0000933036-21-000049 | 10-K | XBRL Viewer

Document and Entity Information Document - USD ($)	12 Months Ended
Document and Entity Information Document - USD ($)	Dec. 31, 2020	Feb. 19, 2021	Jun. 30, 2020
Document and Entity Information [Abstract]
Document Type	10-K
Document Annual Report	true
Document Period End Date	Dec. 31, 2020
Document Transition Report	false
Entity File Number	001-38047
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	45-0491516
Entity Address, Address Line One	5501 Headquarters Drive
Entity Address, City or Town	Plano
Entity Address, State or Province	TX
Entity Address, Postal Zip Code	75024
City Area Code	972
Local Phone Number	801-1100
Title of 12(b) Security	Common Stock, par value $0.01 per share
Trading Symbol	RCII
Security Exchange Name	NASDAQ
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
IcfrAuditorAttestationFlag	true
Entity Shell Company	false
Entity Public Float Shares			48,283,983
Entity Public Float			$ 1,343,260,407
Entity Common Stock, Shares Outstanding		54,413,717
Documents Incorporated by Reference [Text Block]	Portions of the definitive proxy statement relating to the 2021 Annual Meeting of Stockholders of Rent-A-Center, Inc. are incorporated by reference into Part III of this report.
Entity Registrant Name	RENT A CENTER INC DE
Entity Central Index Key	0000933036
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	FY
Amendment Flag	false

Consolidated Statement of Operations - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Store [Abstract]
Rentals and fees	$ 2,263,091	$ 2,224,402	$ 2,244,860
Merchandise sales	378,717	304,630	304,455
Installment sales	68,500	70,434	69,572
Other	3,845	4,795	9,000
Total store revenues	2,714,153	2,604,261	2,627,887
Franchise [Abstract]
Franchise merchandise sales	80,023	49,135	19,087
Royalty income and fees	20,015	16,456	13,491
Total revenues	2,814,191	2,669,852	2,660,465
Store [Abstract]
Cost of rentals and fees	655,612	634,878	621,860
Cost of merchandise sold	382,182	319,006	308,912
Cost of installment sales	24,111	23,383	23,326
Total cost of store revenues	1,061,905	977,267	954,098
Franchise [Abstract]
Franchise cost of merchandise sold	80,134	48,514	18,199
Total cost of revenues	1,142,039	1,025,781	972,297
Gross profit	1,672,152	1,644,071	1,688,168
Operating expenses [Abstract]
Labor	579,125	630,096	683,422
Other store expenses	609,370	617,106	656,894
General and administrative expenses	153,108	142,634	163,445
Depreciation, amortization and write-down of intangibles	56,658	61,104	68,946
Other charges and (gains)	36,555	(60,728)	59,324
Total operating expenses	1,434,816	1,390,212	1,632,031
Operating profit	237,336	253,859	56,137
Debt refinancing charges	0	2,168	475
Interest expense	15,325	31,031	42,968
Interest income	(768)	(3,123)	(1,147)
Earnings before income taxes	222,779	223,783	13,841
Income tax expense	14,664	50,237	5,349
Net earnings	$ 208,115	$ 173,546	$ 8,492
Basic earnings per common share	$ 3.84	$ 3.19	$ 0.16
Diluted earnings per common share	3.73	3.10	0.16
Cash dividends declared per common share	$ 1.18	$ 0.54	$ 0

Statements of Comprehensive Income - USD ($) $ in Thousands	12 Months Ended
Statements of Comprehensive Income - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Consolidated Statements of Comprehensive Income (Loss) [Abstract]
Net earnings	$ 208,115	$ 173,546	$ 8,492
Foreign currency translation adjustments, net of tax $(193), $158, and ($73) for 2020, 2019, and 2018, respectively	(726)	595	(274)
Total other comprehensive (loss) income	(726)	595	(274)
Comprehensive income	$ 207,389	$ 174,141	$ 8,218

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References + Details

Statement of Comprehensive Income (Parenthetical) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Statement of Comprehensive Income [Abstract]
Foreign currency translation tax adjustment	$ (193)	$ 158	$ (73)

Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
ASSETS [Abstract]
Cash and cash equivalents	$ 159,449	$ 70,494
Receivables, net of allowance for doubtful accounts of $8,047 and $5,601 in 2020 and 2019, respectively	90,003	84,123
Prepaid expenses and other assets	50,006	46,043
Rental merchandise, net [Abstract]
On rent	762,886	697,270
Held for rent	146,266	138,418
Merchandise held for installment sale	5,439	4,878
Property assets, net of accumulated depreciation of $505,074 and $522,826 in 2020 and 2019, respectively	141,641	166,138
Operating lease right-of-use assets	283,422	281,566
Deferred tax asset	33,782	14,889
Goodwill	70,217	70,217
Other intangible assets, net	7,869	8,762
Assets	1,750,980	1,582,798
LIABILITIES [Abstract]
Accounts payable - trade	186,063	168,120
Accrued liabilities	320,583	275,777
Operating lease liabilities	285,354	285,041
Deferred tax liabilities	176,410	163,984
Senior debt, net	190,490	230,913
Total liabilities	1,158,900	1,123,835
STOCKHOLDERS' EQUITY [Abstract]
Common stock, $.01 par value; 250,000,000 shares authorized; 112,180,517 and 111,166,229 shares issued in 2020 and 2019, respectively	1,105	1,110
Additional paid-in capital	886,902	869,617
Retained earnings	1,091,010	947,875
Treasury stock at cost, 57,891,859 and 56,428,482 shares in 2020 and 2019, respectively	1,375,541	1,348,969
Accumulated other comprehensive loss	(11,396)	(10,670)
Total stockholders' equity	592,080	458,963
Total liabilities and stockholders' equity	$ 1,750,980	$ 1,582,798
Treasury stock - shares at cost	57,891,859	56,428,482

Consolidated Balance Sheets (Parethetical) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Statement of Financial Position [Abstract]
Allowance for doubtful accounts	$ 8,047	$ 5,601
Accumulated depreciation of property assets	$ 505,074	$ 522,826
Common stock - par value	$ 0.01	$ 0.01
Common stock - shares authorized	250,000,000	250,000,000
Common stock - shares issued	112,180,517	111,166,229

Consolidated Statement of Stockholders' Equity - USD ($) $ in Thousands	Total	Common Stock [Member]	Additional Paid-In Capital [Member]	Retained Earnings [Member]	Treasury Stock [Member]	Accumulated Other Comprehensive (Loss) Income [Member]
Beginning balance, shares at Dec. 31, 2017		109,682,000
Beginning balance at Dec. 31, 2017	$ 272,443	$ 1,097	$ 831,271	$ 798,743	$ (1,347,677)	$ (10,991)
Beginning balance (Accounting Standards Update 2014-09 [Member]) at Dec. 31, 2017				(1,311)
Net earnings	8,492			8,492
Foreign currency translation adjustments, net of tax $(193), $158, and ($73) for 2020, 2019, and 2018, respectively	(274)					(274)
Total other comprehensive (loss) income	(274)
Exercise of stock options, shares		138,000
Exercise of stock options	1,400	$ 1	1,399
Vesting of restricted share units, shares		90,000
Vesting of restricted share units	0	$ 1	(1)
Tax effect of stock awards vested and options exercised	(194)		(194)
Stock-based compensation expense	(5,961)		5,961
Ending balance, shares at Dec. 31, 2018		109,910,000
Ending balance at Dec. 31, 2018	286,517	$ 1,099	838,436	805,924	(1,347,677)	(11,265)
Ending balance (Accounting Standards Update 2014-09 [Member]) at Dec. 31, 2018	(1,311)
Ending balance (Accounting Standards Update 2016-02 [Member]) at Dec. 31, 2018	(1,976)			(1,976)
Net earnings	173,546			173,546
Foreign currency translation adjustments, net of tax $(193), $158, and ($73) for 2020, 2019, and 2018, respectively	595					595
Total other comprehensive (loss) income	595
Purchase of treasury stock	(1,292)				(1,292)
Exercise of stock options, shares		550,000
Exercise of stock options	6,799	$ 5	6,794
Vesting of restricted share units, shares		267,000
Vesting of restricted share units	0	$ 2	(2)
Tax effect of stock awards vested and options exercised	(1,734)		(1,734)
Stock-based compensation expense	6,958		6,958
Dividends declared	(29,619)			(29,619)
Merchants Preferred acquisition, shares		439,000
Merchants Preferred acquisition	19,169	$ 4	19,165
Ending balance, shares at Dec. 31, 2019		111,166,000
Ending balance at Dec. 31, 2019	458,963	$ 1,110	869,617	947,875	(1,348,969)	(10,670)
Ending balance (Accounting Standards Update 2016-13 [Member]) at Dec. 31, 2019	(769)			(769)
Net earnings	208,115			208,115
Foreign currency translation adjustments, net of tax $(193), $158, and ($73) for 2020, 2019, and 2018, respectively	(726)					(726)
Total other comprehensive (loss) income	(726)
Purchase of treasury stock	$ (26,586)	$ (14)			(26,572)
Exercise of stock options, shares	496,018	494,000
Exercise of stock options	$ 10,280	$ 5	10,275
Vesting of restricted share units, shares		521,000
Vesting of restricted share units	0	$ 4	(4)
Tax effect of stock awards vested and options exercised	(5,270)		(5,270)
Stock-based compensation expense	12,284		12,284
Dividends declared	(64,211)			(64,211)
Ending balance, shares at Dec. 31, 2020		112,181,000
Ending balance at Dec. 31, 2020	$ 592,080	$ 1,105	$ 886,902	$ 1,091,010	$ (1,375,541)	$ (11,396)

Consolidated Statements of Cash Flows $ in Thousands	12 Months Ended
Consolidated Statements of Cash Flows $ in Thousands	Dec. 31, 2020 USD ($)	Dec. 31, 2019 USD ($)	Dec. 31, 2018 USD ($)
Cash flows from operating activities [Abstract]
Net earnings	$ 208,115	$ 173,546	$ 8,492
Adjustments to reconcile net earnings to net cash provided by operating activities [Abstract]
Depreciation of rental merchandise	633,695	619,353	616,640
Bad debt expense	14,635	15,077	14,610
Stock-based compensation expense	12,284	6,958	5,961
Depreciation for property assets	55,597	60,592	68,275
Loss (gain) on sale or disposal of property assets	18,215	(23,537)	7,388
Amortization of intangibles	1,070	723	671
Amortization of financing fees	1,577	2,987	5,486
Write-off of debt financing fees	0	2,168	475
Deferred income taxes	(6,605)	55,257	6,816
Changes in operating assets and liabilities, net of effects of acquisitions
Rental merchandise	(736,444)	(651,487)	(569,717)
Receivables	(20,674)	(28,855)	(14,431)
Prepaid expenses and other assets	(3,963)	3,185	13,105
Operating lease right-of-use assets and lease liabilities	(1,543)	4,366	0
Accounts payable - trade	17,943	54,282	23,486
Accrued liabilities	42,600	(79,199)	40,248
Net cash provided by operating activities	236,502	215,416	227,505
Cash flows from investing activities
Purchase of property assets	(34,545)	(21,157)	(27,962)
Proceeds from sale of assets	14,477	69,717	25,317
Hurricane insurance recovery proceeds	158	1,113	0
Acquisitions of businesses	(700)	(28,915)	(2,048)
Net cash (used in) provided by investing activities	(20,610)	20,758	(4,693)
Cash flows from financing activities
Share repurchases	(26,572)	(1,292)	0
Exercise of stock options	10,280	6,799	1,401
Shares withheld for payment of employee tax withholdings	(5,270)	(1,733)	(317)
Debt issuance costs	0	(8,454)	(2,098)
Proceeds from debt	198,000	305,400	27,060
Repayments of debt	(240,000)	(608,640)	(166,358)
Dividends paid	(63,119)	(13,707)	0
Net cash used in financing activities	(126,681)	(321,627)	(140,312)
Effect of exchange rate changes on cash	(256)	556	(77)
Cash and cash equivalents	159,449	70,494	155,391
Supplemental cash flow information [Abstract]
Interest	14,222	32,114	37,530
Income taxes (excludes $32,318, $2,074, and $47,837 of income taxes refunded in 2020, 2019 and 2018, respectively)	51,569	24,332	2,227
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect, Total	$ 88,955	$ (84,897)	$ 82,423

Consolidated Statements of Cash Flows Consolidated Statements of Cash Flows (Parenthetical) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2013
Income taxes refunded	$ 32,318	$ 2,074	$ 47,837	$ 41,800

Nature of Operations and Summary of Accounting Policies	12 Months Ended
Nature of Operations and Summary of Accounting Policies	Dec. 31, 2020
Nature of Operations and Summary of Accounting Policies [Abstract]
Nature of Operations and Summary of Accounting Policies [Text Block]	Nature of Operations and Summary of Accounting Policies A summary of the significant accounting policies consistently applied in the preparation of the accompanying consolidated financial statements follows: Principles of Consolidation and Nature of Operations The financial statements included herein include the accounts of Rent-A-Center, Inc. and its direct and indirect subsidiaries. All intercompany accounts and transactions have been eliminated. Unless the context indicates otherwise, references to “Rent-A-Center” refer only to Rent-A-Center, Inc., the parent, and references to the “Company,” “we,” “us” and “our” refer to the consolidated business operations of Rent-A-Center and any or all of its direct and indirect subsidiaries. We report four operating segments: Rent-A-Center Business, Preferred Lease, Mexico and Franchising. Our Rent-A-Center Business segment consists of company-owned lease-to-own stores in the United States and Puerto Rico that lease household durable goods to customers on a lease-to-own basis. We also offer merchandise on an installment sales basis in certain of our stores under the names “Get It Now” and “Home Choice.” Our Rent-A-Center Business segment operates through our company-owned stores and e-commerce platform through rentacenter.com. At December 31, 2020, we operated 1,845 company-owned stores nationwide and in Puerto Rico, including 44 retail installment sales stores. Our Preferred Lease segment, which operates in the United States and Puerto Rico, and includes the operations of Merchants Preferred (as defined in Note B below) acquired in August 2019, generally offers the lease-to-own transaction to consumers who do not qualify for financing from the traditional retailer through kiosks located within such retailer’s locations, including staffed options, unstaffed or virtual options, or a combination of the two (the hybrid model). The hybrid model can be staffed by a Preferred Lease employee (staffed locations) or employ a virtual solution where customers, either directly or with the assistance of a representative of the third-party retailer, initiate the lease-to-own transaction online in the retailers’ locations using our virtual solutions (virtual locations). Our Mexico segment consists of our company-owned lease-to-own stores in Mexico that lease household durable goods to customers on a lease-to-own basis. At December 31, 2020, we operated 121 stores in Mexico. Rent-A-Center Franchising International, Inc., an indirect wholly-owned subsidiary of Rent-A-Center, is a franchisor of lease-to-own stores. At December 31, 2020, Franchising had 462 franchised stores operating in 33 states. Our Franchising segment’s primary source of revenue is the sale of rental merchandise to its franchisees, who in turn offer the merchandise to the general public for rent or purchase under a lease-to-own transaction. The balance of our Franchising segment’s revenue is generated primarily from royalties based on franchisees’ monthly gross revenues. Rental Merchandise Rental merchandise is carried at cost, net of accumulated depreciation. Depreciation for merchandise is generally provided using the income forecasting method, which is intended to match as closely as practicable the recognition of depreciation expense with the consumption of the rental merchandise, and assumes no salvage value. The consumption of rental merchandise occurs during periods the merchandise is under a rental agreement and directly coincides with the receipt of rental revenue over the rental purchase agreement period. Under the income forecasting method, merchandise held for rent is not depreciated and merchandise on rent is depreciated in the proportion of rents received to total rents provided in the rental contract, which is an activity-based method similar to the units of production method. We depreciate merchandise (including computers and tablets) that is held for rent for at least 180 consecutive days using the straight-line method over a period generally not to exceed 18 months. Smartphones are depreciated over an 18-month straight-line basis beginning with the earlier of on rent or 90 consecutive days on held for rent. Rental merchandise that is damaged and inoperable is expensed when such impairment occurs. If a customer does not return the merchandise or make payment, the remaining book value of the rental merchandise associated with delinquent accounts is generally charged off on or before the 90th day following the time the account became past due in the Rent-A-Center Business and Mexico segments, and during the month following the 150th day in the Preferred Lease segment. We maintain a reserve for these expected expenses. In addition, any minor repairs made to rental merchandise are expensed at the time of the repair. Expenses related to merchandise losses, damaged merchandise, or merchandise repairs are recorded to other store expenses in our consolidated statement of operations. Cash Equivalents Cash equivalents include all highly liquid investments with an original maturity of three months or less. We maintain cash and cash equivalents at several financial institutions, which at times may not be federally insured or may exceed federally insured limits. We have not experienced any losses in such accounts and believe we are not exposed to any significant credit risks on such accounts. Revenues Merchandise is rented to customers pursuant to rental purchase agreements which provide for weekly, semi-monthly or monthly rental terms with non-refundable rental payments. Generally, the customer has the right to acquire title either through a purchase option or through payment of all required rentals. Rental revenue and fees are recognized over the rental term and merchandise sales revenue is recognized when the customer exercises the purchase option and pays the cash price due. Cash received prior to the period in which it should be recognized is deferred and recognized according to the rental term. Revenue is accrued for uncollected amounts due based on historical collection experience. However, the total amount of the rental purchase agreement is not accrued because the customer can terminate the rental agreement at any time and we cannot enforce collection for non-payment of future rents. Revenues from the sale of merchandise in our retail installment stores are recognized when the installment note is signed, the customer has taken possession of the merchandise and collectability is reasonably assured. Revenues from the sale of rental merchandise are recognized upon shipment of the merchandise to the franchisee. Franchise royalty income and fee revenue is recognized upon completion of substantially all services and satisfaction of all material conditions required under the terms of the franchise agreement. Initial franchise fees charged to franchisees for new or converted franchise stores are recognized on a straight-line basis over the term of the franchise agreement. Receivables and Allowance for Doubtful Accounts The installment notes receivable associated with the sale of merchandise at our Get It Now and Home Choice stores generally consists of the sales price of the merchandise purchased and any additional fees for services the customer has chosen, less the customer’s down payment. No interest is accrued and interest income is recognized each time a customer makes a payment, generally on a monthly basis. We have established an allowance for doubtful accounts for our installment notes receivable. Our policy for determining the allowance is based on historical loss experience, as well as the results of management’s review and analysis of the payment and collection of the installment notes receivable within the previous year. We believe our allowance is adequate to absorb any known or probable losses. Our policy is to charge off installment notes receivable that are 120 days or more past due. Charge-offs are applied as a reduction to the allowance for doubtful accounts and any recoveries of previously charged off balances are applied as an increase to the allowance for doubtful accounts. Our trade and notes receivables consist primarily of amounts due from our rental customers for renewal and uncollected rental payments, Franchising receivables, and other corporate related receivables. The majority of our Franchising trade and notes receivables relate to amounts due from franchisees for inventory purchases, earned royalties and other obligations. Credit is extended based on an evaluation of a franchisee’s financial condition and collateral is generally not required. Trade receivables are generally due within 30 days and are reported as amounts due from franchisees, net of an allowance for doubtful accounts. Accounts that are outstanding longer than the contractual payment terms are considered past due. Franchising determines its allowance by considering a number of factors, including the length of time receivables are past due, previous loss history, the franchisee’s current ability to pay its obligation, and the condition of the general economy and the industry as a whole. Franchising writes off trade receivables that are 90 or more days past due and payments subsequently received on such receivables are credited to the allowance for doubtful accounts. Property Assets and Related Depreciation Furniture, equipment and vehicles are stated at cost less accumulated depreciation. Depreciation is provided over the estimated useful lives of the respective assets (generally 5 years) by the straight-line method. Leasehold improvements are amortized over the useful life of the asset or the initial term of the applicable leases by the straight-line method, whichever is shorter. We have incurred costs to develop computer software for internal use. We capitalize the costs incurred during the application development stage, which includes designing the software configuration and interfaces, coding, installation, and testing. Costs incurred during the preliminary stages along with post-implementation stages of internally developed software are expensed as incurred. Internally developed software costs, once placed in service, are amortized over various periods up to 10 years. We incur repair and maintenance expenses on our vehicles and equipment. These amounts are recognized when incurred, unless such repairs significantly extend the life of the asset, in which case we amortize the cost of the repairs for the remaining useful life of the asset utilizing the straight-line method. Goodwill and Other Intangible Assets We record goodwill when the consideration paid for an acquisition exceeds the fair value of the identifiable net tangible and identifiable intangible assets acquired. Goodwill is not subject to amortization but must be periodically evaluated for impairment. Impairment occurs when the carrying value of goodwill is not recoverable from future cash flows. We perform an assessment of goodwill for impairment at the reporting unit level annually as of October 1, or when events or circumstances indicate that impairment may have occurred. Our reporting units are our reportable operating segments. Factors which could necessitate an interim impairment assessment include a sustained decline in our stock price, prolonged negative industry or economic trends and significant underperformance relative to expected historical or projected future operating results. Based on our assessment, if the fair value of the reporting unit exceeds its carrying value, then the goodwill is not deemed impaired. If the carrying value of the reporting unit exceeds fair value, goodwill is deemed impaired and the impairment is measured as the difference between the carrying value and the fair value of the respective reporting unit. We determine the fair value of each reporting unit using methodologies which include the present value of estimated future cash flows and comparisons of multiples of enterprise values to earnings before interest, taxes, depreciation and amortization. The analysis is based upon available information regarding expected future cash flows and discount rates. Discount rates are generally based upon our weighted average cost of capital. As an alternative to performing a quantitative assessment to measure the fair value of the reporting unit, the Company may perform a qualitative assessment for impairment if it believes it is not more likely than not that the carrying value of the net assets of the reporting unit exceeds its fair value. At December 31, 2020, the amount of goodwill attributable to the Rent-A-Center Business and Preferred Lease segments was approximately $1.5 million and $68.7 million, respectively. We currently do not have goodwill balances attributable to our Mexico or Franchising segments. Acquired customer relationships are amortized over a 21-month period, non-compete agreements are amortized over the contractual life of the agreements, vendor relationships are amortized over a 7 or 15 year period, and other intangible assets are amortized over the life of the asset. Intangible assets are amortized using methods that we believe reflect the pattern in which the economic benefits of the related asset are consumed, including using a straight-line method. Accounting for Impairment of Long-Lived Assets We evaluate all long-lived assets, including intangible assets, excluding goodwill, for impairment whenever events or changes in circumstances indicate that the carrying amounts of the related assets may not be recoverable by the undiscounted net cash flows they will generate. Impairment is recognized when the carrying amounts of such assets exceed their fair value. We determine the fair value of our long-lived assets using methodologies which include the present value of estimated future cash flows of the asset, or related fair market values for similar assets. Self-Insurance Liabilities We have self-insured retentions with respect to losses under our workers’ compensation, general liability, vehicle liability and health insurance programs. We establish reserves for our liabilities associated with these losses by obtaining forecasts for the ultimate expected losses and estimating amounts needed to pay losses within our self-insured retentions. We make assumptions on our liabilities within our self-insured retentions using actuarial loss forecasts, company-specific development factors, general industry loss development factors, and third-party claim administrator loss estimates which are based on known facts surrounding individual claims. These assumptions incorporate expected increases in health care costs. Periodically, we reevaluate our estimate of liability within our self-insured retentions. At that time, we evaluate the adequacy of our reserves by comparing amounts reserved on our balance sheet for anticipated losses to our updated actuarial loss forecasts and third-party claim administrator loss estimates, and make adjustments to our reserves as needed. Foreign Currency Translation The functional currency of our foreign operations is the applicable local currency. Assets and liabilities denominated in a foreign currency are translated into U.S. dollars at the current rate of exchange on the last day of the reporting period. Revenues and expenses are generally translated at a daily exchange rate and equity transactions are translated using the actual rate on the day of the transaction. Other Comprehensive (Loss) Income Other comprehensive (loss) income is comprised exclusively of our foreign currency translation adjustment. Income Taxes We record deferred taxes for temporary differences between the tax and financial reporting bases of assets and liabilities at the enacted tax rate expected to be in effect when those temporary differences are expected to be recovered or settled. Income tax accounting requires management to make estimates and apply judgments to events that will be recognized in one period under rules that apply to financial reporting in a different period in our tax returns. In particular, judgment is required when estimating the value of future tax deductions, tax credits and net operating loss carryforwards (NOLs), as represented by deferred tax assets. We evaluate the recoverability of these future tax deductions and credits by assessing the future expected taxable income from all sources, including reversal of taxable temporary differences, forecasted operating earnings and available tax planning strategies. These sources of income rely heavily on estimates. We use our historical experience and our short- and long-range business forecasts to provide insight and assist us in determining recoverability. When it is determined the recovery of all or a portion of a deferred tax asset is not likely, a valuation allowance is established. We include NOLs in the calculation of deferred tax assets. NOLs are utilized to the extent allowable due to the provisions of the Internal Revenue Code of 1986, as amended, and relevant state statutes. We recognize the financial statement benefit of a tax position only after determining that the relevant tax authority would more likely than not sustain the position following an audit. For tax positions meeting the more likely-than-not threshold, the amount recognized in the financial statements is the largest benefit that has a greater than 50 percent likelihood of being realized upon the ultimate settlement with the relevant tax authority. A number of years may elapse before a particular matter, for which we have recorded a liability, is audited and effectively settled. We review our tax positions quarterly and adjust our liability for unrecognized tax benefits in the period in which we determine the issue is effectively settled with the tax authorities, the statute of limitations expires for the relevant taxing authority to examine the tax position, or when more information becomes available. We classify accrued interest and penalties related to unrecognized tax benefits as interest expense and general & administrative expense, respectively. Sales Taxes We apply the net basis for sales taxes imposed on our goods and services in our consolidated statements of operations. We are required by the applicable governmental authorities to collect and remit sales taxes. Accordingly, such amounts are charged to the customer, collected and remitted directly to the appropriate jurisdictional entity. Earnings Per Common Share Basic earnings per common share are based upon the weighted average number of common shares outstanding during each period presented. Diluted earnings per common share are based upon the weighted average number of common shares outstanding during the period, plus, if dilutive, the assumed exercise of stock options and vesting of stock awards at the beginning of the year, or for the period outstanding during the year for current year issuances. Advertising Costs Costs incurred for producing and communicating advertising are expensed when incurred. Advertising expense was $50.9 million, $58.8 million and $74.6 million, for the years ended December 31, 2020, 2019 and 2018, respectively. Advertising expense is net of vendor allowances of $24.8 million, $21.2 million, and $17.1 million for the years ended December 31, 2020, 2019 and 2018, respectively. Stock-Based Compensation We maintain long-term incentive plans for the benefit of certain employees and directors, which are described more fully in Note O. We recognize share-based payment awards to our employees and directors at the estimated fair value on the grant date. Determining the fair value of any share-based award requires information about several variables that include, but are not limited to, expected stock volatility over the term of the award, expected dividend yields, and the risk free interest rate. We base the expected term on historical exercise and post-vesting employment-termination experience, and expected volatility on historical realized volatility trends. In addition, all stock-based compensation expense is recorded net of an estimated forfeiture rate. The forfeiture rate is based upon historical activity and is analyzed at least annually as actual forfeitures occur. Compensation costs are recognized net of estimated forfeitures over the requisite service period on a straight-line basis. We issue new shares to settle stock awards. Stock options are valued using a Black-Scholes pricing model. Time-vesting restricted stock units are valued using the closing price on the Nasdaq Global Select Market on the day before the grant date, adjusted for any provisions affecting fair value, such as the lack of dividends or dividend equivalents during the vesting period. Performance-based restricted stock units will vest in accordance with a total shareholder return formula, and are valued by a third-party valuation firm using Monte Carlo simulations. Reclassifications Certain reclassifications may be made to the reported amounts for prior periods to conform to the current period presentation. These reclassifications have no impact on net earnings or earnings per share in any period. Use of Estimates In preparing financial statements in conformity with U.S. generally accepted accounting principles, we are required to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent losses and liabilities at the date of the financial statements, and the reported amounts of revenues and expenses during the reporting period. In applying accounting principles, we must often make individual estimates and assumptions regarding expected outcomes or uncertainties. Our estimates, judgments and assumptions are continually evaluated based on available information and experience. However, uncertainties, including future unknown impacts of the COVID-19 pandemic, may affect certain estimates and assumptions inherent in the financial reporting process, which may impact reported amounts of assets and liabilities in future periods and cause actual results to differ from those estimates. Newly Adopted Accounting Pronouncements In June 2016, the FASB issued ASU 2016-13, Financial Instruments—Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments, which requires immediate recognition of estimated current expected credit losses, rather than recognition when incurred. We adopted ASU 2016-13 and all related amendments, including ASU 2020-02 and ASU 2020-03, beginning January 1, 2020, using a modified retrospective approach. Under such approach, we recognized the cumulative-effect of our adoption of the guidance as an adjustment to the opening balance of retained earnings for the quarter ended March 31, 2020. The application of this new methodology is limited to our installment notes receivables and trade receivables with our franchisees, primarily related to merchandise sales. The comparative information has not been restated and continues to be reported under the accounting standards in effect for periods ending prior to January 1, 2020. The cumulative effect as of January 1, 2020 resulting from the adoption of ASU 2016-13 and related amendments was a net decrease to opening retained earnings in our condensed consolidated balance sheet of $0.8 million. See Note D for additional information regarding our trade and note receivables and related allowances for doubtful accounts. In January 2017, the FASB issued ASU 2017-04, Intangibles - Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment, which simplifies the subsequent measurement of goodwill by eliminating the hypothetical purchase price allocation and instead using the difference between the carrying amount and the fair value of the reporting unit. We adopted ASU 2017-04 beginning January 1, 2020, using a prospective approach. There was no impact on our financial statements for the twelve months ended December 31, 2020 resulting from the adoption of this ASU. In August 2018, the FASB issued ASU 2018-13, Fair Value Measurement (Topic 820): Disclosure Framework - Changes to the Disclosure Requirements for Fair Value Measurement, which removes, modifies, and adds certain disclosure requirements in ASC 820, to improve the effectiveness of the fair value measurement disclosures. We adopted ASU 2018-13 beginning January 1, 2020, using a prospective approach. There was no impact on our financial statements for the twelve months ended December 31, 2020 resulting from the adoption of this ASU. In August 2018, the FASB issued ASU 2018-15, Intangibles - Goodwill and Other - Internal-Use Software (Subtopic 350-40); Customer's Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement, which requires implementation costs incurred by customers in cloud computing arrangements to be deferred and recognized over the term of the arrangement, if those costs would be capitalized by the customer in a software licensing agreement under the internal-use software guidance in ASC 350-40. We adopted ASU 2018-15 beginning January 1, 2020, using a prospective approach. Following our adoption of this ASU, deferred implementation costs related to cloud computing arrangements are recorded to prepaid expenses and other assets in our condensed consolidated balance sheet and subsequently amortized to other store expenses in our condensed consolidated statement of operations. Impacts to our financial statements resulting from the adoption of this ASU were immaterial to our financial statements for the twelve months ended December 31, 2020. In February 2016, the FASB issued ASU 2016-02, Leases (Topic 842), which replaces existing accounting literature relating to the classification of, and accounting for, leases. Under ASU 2016-02, a company must recognize for all leases (with the exception of leases with terms of 12 months or less) a liability representing a lessee's obligation to make lease payments arising from a lease, and a right-of-use asset representing the lessee's right to use, or control the use of, a specified asset for the lease term. Lessor accounting is largely unchanged, with certain improvements to align lessor accounting with the lessee accounting model and Topic 606, Revenue from Contracts with Customers. Adoption of ASU 2016-02 requires the use of a modified retrospective transition method to measure leases at the beginning of the earliest period presented in the consolidated financial statements. In July 2018, the FASB issued ASU 2018-11, allowing companies to apply a transition method for adoption of the new standard as of the adoption date, with recognition of any cumulative-effects as adjustments to the opening balance of retained earnings in the period of adoption. We adopted these ASUs beginning January 1, 2019 and elected the transition method under ASU 2018-11. Our lease-to-own agreements, which comprise the majority of our annual revenue, fall within the scope of ASU 2016-02 under lessor accounting; however, the new standard does not significantly affect the timing of recognition or presentation of revenue for our rental contracts. As a lessee, the new standard affected a substantial portion of our lease contracts. As of December 31, 2019, we had $281.6 million operating lease right-of-use assets and $285.0 million operating lease liabilities in our condensed consolidated balance sheet. Upon adoption, we identified impairment losses related to closure of our product service centers and Rent-A-Center Business stores resulting in a cumulative-effect decrease of $2.0 million, net of tax, to our January 1, 2019 retained earnings balance. There were no significant effects to our condensed consolidated statements of operations or condensed consolidated statements of cash flows. We elected a package of optional practical expedients in our adoption of the new standard, including the option to retain the current classification for leases entered into prior to the date of adoption; the option not to reassess initial direct costs for capitalization for leases entered into prior to the date of adoption; and the option not to separate lease and non-lease components for our lease-to-own agreements as a lessor, and our real estate, and certain categories of equipment leases, as a lessee. In conjunction with the adoption of the new lease accounting standard, we implemented a new back-office lease administration and accounting system to support the new accounting and disclosure requirements as a lessee. In addition, we implemented changes to our previous accounting policies, processes, and internal controls to ensure compliance with the new standard. In February 2018, the FASB issued ASU 2018-02, Income Statement - Reporting Comprehensive Income (Topic 220): Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income, which allows a company to reclassify to retained earnings the disproportionate income tax effects of the Tax Act on items with accumulated other comprehensive income that the FASB refers to as having been stranded in accumulated other comprehensive income. The adoption of ASU 2018-02 was required for us beginning January 1, 2019. We elected not to exercise the option to reclassify stranded tax effects within accumulated other comprehensive income in each period in which the effect of the change in the U.S. federal corporate income tax rate in the Tax Act (or portion thereof) is recorded.

Acquisitions & Divestitures

12 Months Ended

Dec. 31, 2020

Business Combinations [Abstract]

Acquisitions and Divestitures

Acima Acquisition

On December 20, 2020, we entered into an Agreement and Plan of Merger (the “Merger Agreement”) with Radalta, LLC, a Utah limited liability company and wholly owned subsidiary of the Company, Acima Holdings, LLC, a Utah limited liability company (“Acima”), and Aaron Allred, solely in his capacity as the representative of the former owners of Acima, providing for the merger of Radalta, LLC with and into Acima, with Acima surviving as a wholly owned subsidiary of the Company (the “Merger”). The Merger was completed on February 17, 2021. In accordance with the Merger Agreement, we issued to the former owners of Acima an aggregate of 10,779,923 shares of our common stock (the “Aggregate Stock Consideration”), with a value of $51.14 per share based on the closing price of our common stock on the date of closing, and paid to them aggregate cash consideration of $1,273.3 million (the “Aggregate Cash Consideration”). Under the terms of the Merger Agreement, $50.0 million of the Aggregate Cash Consideration was placed into escrow at the closing of the Merger to cover certain potential tax and regulatory indemnification obligations of the former owners of Acima under the Merger Agreement.

In accordance with the terms of the Merger Agreement, the portion of the Aggregate Stock Consideration issued to former owners of Acima who are also employees of Acima is subject to certain vesting conditions over a three year period. The portion of the Aggregate Stock Consideration issued to non-employee former owners of Acima is subject to the terms of an 18-month lockup agreement, pursuant to which one-third of the aggregate shares of common stock of the Company received by a non-employee former owner in the Merger becomes transferable after each six month period following the closing of the Merger. The Company entered into a Registration Rights Agreement, dated as of February 17, 2021, pursuant to which certain former owners of Acima are entitled to registration rights in respect of the portion of the Aggregate Stock Consideration received by them in the Merger.

In connection with the signing of the Merger Agreement, we entered into employment agreements with certain executives of Acima, including Aaron Allred, Chairman and Founder of Acima, which became effective upon the closing of the Merger.

As of the date of this Annual Report on Form 10-K, we are unable to disclose supplemental pro forma financial information, including combined revenue and earnings of the recently merged companies, for the year ended December 31, 2020, or the preliminary fair value of assets acquired and liabilities assumed in connection with this acquisition, due to the unavailability of Acima's financial statements as of December 31, 2020, and as of the date of the Merger. We intend to report the above information in our Quarterly Report on Form 10-Q for the period ended March 31, 2021.

Merchants Preferred Acquisition

On August 13, 2019, we completed the acquisition of substantially all of the assets of Merchants Preferred, a nationwide provider of virtual lease-to-own services (“Merchant's Preferred”). The aggregate purchase price was approximately $46.4 million, including net cash consideration of approximately $28.0 million, and 701,918 shares of our common stock valued at $27.31 per share, as of the date of closing, less working capital adjustments of approximately $0.9 million.

Assets acquired and liabilities assumed in connection with the acquisition have been recorded at their fair values. The following table provides the final estimated fair values of the identifiable assets acquired and liabilities assumed as of the acquisition date:


(in thousands)	August 13, 2019
Receivables	$	1,813
Prepaid expenses and other assets	154
Rental merchandise	17,904
Software	4,300
Right of use operating leases	404
Other intangible assets	8,900
Goodwill	13,403
Lease liabilities	(487)
Net identifiable assets acquired	$	46,391

The fair value measurements were primarily based on significant unobservable inputs (level 3) developed using company-specific information. Certain fair value estimates were determined based on an independent valuation of the net assets acquired, including identifiable intangible assets, relating to dealer relationships, of $8.9 million, and software of $4.3 million. The fair value for dealer relationships and software were estimated using common industry valuation methods for similar asset types, based primarily on cost inputs and projected cash flows. The dealer relationships and software assets were both assigned remaining lives of 10 years.

In addition, we recorded goodwill of $13.4 million, which consists of the excess of the net purchase price over the fair value of the net assets acquired. The goodwill was not deductible for tax purposes.

Merchants Preferred results of operations are reflected in our consolidated statements of operations from the date of acquisition.

In connection with this acquisition, we recorded approximately $1.4 million in acquisition-related expenses during the twelve months ended December 31, 2019 including expenses related to legal, professional, and banking transaction fees. These costs were included in other charges and (gains) in our consolidated statement of operations.

Other Acquisitions

The following table provides information concerning the other acquisitions, excluding Merchants Preferred, made during the years ended December 31, 2020, 2019 and 2018.


	Year Ended December 31,
(Dollar amounts in thousands)	2020		2019		2018
Number of stores acquired remaining open	—		—		1
Number of stores acquired that were merged with existing stores	2		4		6
Number of transactions	2		4		7
Total purchase price	$	700	$	504	$	2,048
Amounts allocated to:
Goodwill	$	—	$	66	$	169

Customer relationships	177		85		289
Rental merchandise	523		353		1,590

Purchase prices are determined by evaluating the average monthly rental income of the acquired stores and applying a multiple to the total for lease-to-own store acquisitions. Operating results of the acquired stores and accounts have been included in the financial statements since their date of acquisition.

The weighted average amortization period was approximately 21 months for intangible assets added during the year ended December 31, 2020.

California Refranchise Sale

On October 5, 2020, we sold all 99 Rent-A-Center Business corporate stores in the state of California to an experienced franchisee. We received cash consideration of approximately $16 million, including approximately $1 million in respect of related franchise fees. The sale included idle and on-rent inventory of approximately $30.0 million and property assets of approximately $0.8 million, resulting in a total loss on sale of approximately $16.6 million. The loss on sale was recorded to other charges and (gains) in our consolidated statement of operations.

Revenues Revenues (Notes)

12 Months Ended

Dec. 31, 2020

Revenues [Abstract]

Revenues [Text Block]

Revenues

The following tables disaggregates our revenue:


	Twelve Months Ended December 31, 2020
	Rent-A-Center Business		Preferred Lease		Mexico		Franchising		Consolidated
(In thousands)	Unaudited
Store
Rentals and fees	$	1,604,615	$	610,908	$	47,568	$	—	$	2,263,091
Merchandise sales	177,223		198,517		2,977		—		378,717
Installment sales	68,500		—		—		—		68,500
Other	2,303		726		38		778		3,845
Total store revenues	1,852,641		810,151		50,583		778		2,714,153
Franchise
Merchandise sales	—		—		—		80,023		80,023
Royalty income and fees	—		—		—		20,015		20,015
Total revenues	$	1,852,641	$	810,151	$	50,583	$	100,816	$	2,814,191


	Twelve Months Ended December 31, 2019
	Rent-A-Center Business		Preferred Lease		Mexico		Franchising		Consolidated
(In thousands)	Unaudited
Store
Rentals and fees	$	1,585,997	$	587,502	$	50,903	$	—	$	2,224,402
Merchandise sales	140,372		161,235		3,023		—		304,630
Installment sales	70,434		—		—		—		70,434
Other	3,683		523		34		555		4,795
Total store revenues	1,800,486		749,260		53,960		555		2,604,261
Franchise
Merchandise sales	—		—		—		49,135		49,135
Royalty income and fees	—		—		—		16,456		16,456
Total revenues	$	1,800,486	$	749,260	$	53,960	$	66,146	$	2,669,852

Lease Purchase Agreements

Rent-A-Center Business, Preferred Lease, and Mexico

Rentals and Fees. Rental merchandise is leased to customers pursuant to rental purchase agreements which provide for weekly, semi-monthly or monthly rental terms with non-refundable rental payments. At the expiration of each rental term, customers may renew the rental agreement for the next rental term. Generally, the customer has the right to acquire title of the merchandise either through a purchase option or through payment of all required rental terms. Customers can terminate the rental agreement at the end of any rental term without penalty. Therefore, rental transactions are accounted for as operating leases.

Rental payments received at our Rent-A-Center Business, Preferred Lease (excluding virtual) and Mexico locations must be prepaid in advance of the next rental term. Under the virtual business model, revenues are earned prior to the rental payment due date. Therefore, virtual business revenue is accrued prior to receipt of the rental payment, net of estimated returns and uncollectible renewal payments. Under both models, rental revenue is recognized over the rental term. See Note D for additional information regarding accrued rental revenue.

Cash received for rental payments, including fees, prior to the period in which it should be recognized, is deferred and recognized according to the rental term. At December 31, 2020 and 2019, we had $45.8 million and $39.9 million, respectively, in deferred revenue included in accrued liabilities related to our rental purchase agreements. Revenue related to various payment, reinstatement or late fees is recognized when paid by the customer at the point service is provided. Rental merchandise is depreciated using the income forecasting method and is recognized in cost of sales over the rental term.

We also offer additional product plans along with our rental agreements which provide customers with liability protection against significant damage or loss of a product, and club membership benefits, including various discount programs and product service and replacement benefits in the event merchandise is damaged or lost, and payment insurance in the event eligible customers become unemployed. Customers renew product plans in conjunction with their rental term renewals, and can cancel the plans at any time. Revenue for product plans is recognized over the term of the plan. Costs incurred related to product plans are primarily recognized in cost of sales.

Revenue from contracts with customers

Rent-A-Center Business, Preferred Lease, and Mexico

Merchandise Sales. Merchandise sales include payments received for the exercise of the early purchase option offered through our rental purchase agreements or merchandise sold through point of sale transactions. Revenue for merchandise sales is recognized when payment is received and ownership of the merchandise passes to the customer. The remaining net value of merchandise sold is recorded to cost of sales at the time of the transaction.

Installment Sales. Revenue from the sale of merchandise in our retail installment stores is recognized when the installment note is signed and control of the merchandise has passed to the customer. The cost of merchandise sold through installment agreements is recognized in cost of sales at the time of the transaction. We offer extended service plans with our installment

agreements which are administered by third parties and provide customers with product service maintenance beyond the term of the installment agreement. Payments received for extended service plans are deferred and recognized, net of related costs, when the installment payment plan is complete and the service plan goes into effect. Customers can cancel extended service plans at any time during the installment agreement period and receive a refund for payments previously made towards the plan. At December 31, 2020 and 2019, we had $3.1 million and $2.9 million, respectively, in deferred revenue included in accrued liabilities related to extended service plans.

Other. Other revenue consisted of revenue generated by other miscellaneous product plans offered to our rental and installment customers. Revenue for other product plans is recognized in accordance with the terms of the applicable plan agreement.

Franchising

Merchandise Sales. Revenue from the sale of rental merchandise is recognized upon shipment of the merchandise to the franchisee.

Royalty Income and Fees. Franchise royalties, including franchisee contributions to corporate advertising funds, represent sales-based royalties calculated as a percentage of gross rental payments and sales. Royalty revenue is accrued and recognized as rental payments and merchandise sales occur. Franchise fees are initial fees charged to franchisees for new or converted franchise stores. Franchise fee revenue is recognized on a straight-line basis over the term of the franchise agreement. At December 31, 2020 and 2019, we had $4.7 million and $4.5 million, respectively, in deferred revenue included in accrued liabilities related to franchise fees.

Receivables and Allowance for Doubtful Accounts

12 Months Ended

Dec. 31, 2020

Receivables and Allowance for Doubtful Accounts [Abstract]

Receivables and Allowance for Doubtful Accounts [Text Block]

Receivables and Allowance for Doubtful Accounts

Installment sales receivables consist primarily of receivables due from customers for the sale of merchandise in our retail installment stores. Installment sales receivable associated with the sale of merchandise at our Get It Now and Home Choice stores generally consist of the sales price of the merchandise purchased and any additional fees for services the customer has chosen, less the customer’s down payment. No interest is accrued and interest income is recognized each time a customer makes a payment, generally on a monthly basis. Interest paid on installment agreements for the twelve months ended December 31, 2020, 2019 and 2018 was $11.5 million, $10.8 million, and $11.0 million, respectively.

Trade and notes receivables consist primarily of amounts owed from our franchisees for inventory purchases, earned royalties and other obligations; and other corporate related receivables. Credit is extended based on an evaluation of a franchisee’s financial condition and collateral is generally not required. Trade receivables are generally due within 30 days.

Receivables consist of the following:


	December 31,
(In thousands)	2020		2019
Installment sales receivable	$	61,794	$	56,370
Trade and notes receivables	36,256		33,354

Total receivables	98,050		89,724
Less allowance for doubtful accounts	(8,047)		(5,601)
Total receivables, net of allowance for doubtful accounts	$	90,003	$	84,123

We have established an allowance for doubtful accounts for our installment notes receivable. Our policy for determining the allowance is primarily based on historical loss experience, as well as the results of management’s review and analysis of the payment and collection of the installment notes receivable within the previous year. We believe our allowance is adequate to absorb all expected losses. Our policy is to charge off installment notes receivable that are 120 days or more past due. Charge-offs are applied as a reduction to the allowance for doubtful accounts and any recoveries of previously charged off balances are applied as an increase to the allowance for doubtful accounts.

The allowance for our Franchising trade and note receivables is determined by considering a number of factors, including the length of time receivables are past due, previous loss history, the franchisee’s current ability to pay its obligation, and the condition of the general economy and the industry as a whole. Trade receivables that are more than 90 days past due are either written-off or fully reserved in our allowance for doubtful accounts. Payments subsequently received on such receivables are credited to the allowance for doubtful accounts.

The allowance for doubtful accounts related to trade and notes receivable was $1.0 million and $1.5 million, and the allowance for doubtful accounts related to installment sales receivable was $7.0 million and $4.1 million at December 31, 2020 and 2019, respectively.

Changes in our allowance for doubtful accounts are as follows:


	Year Ended December 31,
(In thousands)	2020		2019		2018
Beginning allowance for doubtful accounts	$	5,601	$	4,883	$	4,167
Estimated uncollectible payments and returns(1)	14,636		15,077		14,610
Accounts written off, net of recoveries	(12,190)		(14,359)		(13,894)
Ending allowance for doubtful accounts	$	8,047	$	5,601	$	4,883

(1) Uncollectible installment payments, franchisee obligations, and other corporate receivables are recognized in other store operating expenses in our condensed consolidated financial statements.

Rental Merchandise

12 Months Ended

Dec. 31, 2020

Rental Merchandise [Abstract]

Rental Merchandise [Text Block]

Rental Merchandise


	December 31,
(In thousands)	2020		2019
On rent
Cost	$	1,169,333	$	1,112,130
Less accumulated depreciation	(406,447)		(414,860)
Net book value, on rent	$	762,886	$	697,270
Held for rent
Cost	$	165,879	$	163,636
Less accumulated depreciation	(19,613)		(25,218)
Net book value, held for rent	$	146,266	$	138,418

Property Assets

12 Months Ended

Dec. 31, 2020

Property Assets [Abstract]

Property Assets [Text Block]

Property Assets


	December 31,
(In thousands)	2020		2019
Software	$	279,141	$	300,690
Building and leasehold improvements	196,179		207,620
Furniture and equipment	163,623		174,741
Transportation equipment	503		567
Construction in progress	7,269		5,346
Total property assets	646,715		688,964
Less accumulated depreciation	(505,074)		(522,826)
Total property assets, net of accumulated depreciation	$	141,641	$	166,138

We had $4.8 million and $3.8 million of capitalized software costs included in construction in progress at December 31, 2020 and 2019, respectively. For the years ended December 31, 2020, 2019 and 2018, we placed in service internally developed software of approximately $9.5 million, $6.0 million and $9.7 million, respectively.

On December 27, 2019, we completed the sale of our corporate headquarters for proceeds of $43.2 million, and entered into a lease agreement for a reduced portion, approximately 60%, of the total square footage of the building. Assets written-off in connection with this transaction included building assets of $14.0 million, including furniture and equipment, and land of $6.7 million. We recorded a total gain on sale of approximately $21.8 million in the fourth quarter of 2019. The gain was recorded to other charges and (gains) in our consolidated statement of operations. The lease includes an initial term of 12 years, with two five year renewal option periods at our discretion. In accordance with ASC 842, we recorded operating lease right-of-use assets and operating lease liabilities of $19.0 million for this lease in our condensed consolidated balance sheet.

Leases Leases (Notes)

12 Months Ended

Dec. 31, 2020

Leases [Abstract]

Leases [Text Block]

Leases

We lease space for all of our Rent-A-Center Business and Mexico stores under operating leases expiring at various times through 2027. In addition, we lease space for certain support facilities under operating leases expiring at various times through 2032. Most of our store leases are five year leases and contain renewal options for additional periods ranging from three to five years at rental rates adjusted according to agreed formulas. We evaluate all leases to determine if it is likely that we will exercise future renewal options and in most cases we are not reasonably certain of exercise due to competing market rental rates and lack of significant penalty or business disruption incurred by not exercising the renewal options. We include month-to-month leases in operating lease right-of-use assets and operating lease liabilities in our condensed consolidated balance sheet. In certain situations involving the sale of a Rent-A-Center Business corporate store to a franchisee, we enter into a lease assignment agreement with the buyer, but we remain the primary obligor under the original lease for the remaining active term. These assignments are therefore classified as subleases and the original lease is included in our operating lease right-of-use assets and operating lease liabilities in our condensed consolidated balance sheet.

We lease vehicles for all of our Rent-A-Center Business stores under operating leases with lease terms expiring twelve months after the start date of the lease. We classify these leases as short-term and have elected the short-term lease exemption for our vehicle leases, and have therefore excluded them from our operating lease right-of-use assets within our condensed consolidated balance sheet. We also lease vehicles for all of our Mexico stores which have terms expiring at various times through 2024 with rental rates adjusted periodically for inflation. Finally, we have a minimal number of equipment leases, primarily related to temporary storage containers and certain back office technology hardware assets.

For all of the leases described above, we have elected not to separate the lease and non-lease components and instead account for these as a single component. In addition, we have elected to use available practical expedients that eliminate the requirement to reassess whether expired or existing contracts contained leases, and the requirement to reassess the lease classification for any existing leases prior to our adoption of ASU 2016-02 on January 1, 2019.

Operating lease right-of-use assets and operating lease liabilities are discounted using our incremental borrowing rate, since the implicit rate is not readily determinable. We do not currently have any financing leases.

Operating lease costs are recorded on a straight-line basis within other store expenses in our condensed consolidated statements of operations.

Total operating lease costs by expense type:


	Twelve Months Ended
(in thousands)	December 31, 2020		December 31, 2019
Operating lease cost included in other store expenses(1)(2)	$	140,186	$	148,314
Operating lease cost included in other charges(2)	1,236		9,222
Sublease receipts	(9,727)		(7,683)
Total operating lease charges	$	131,695	$	149,853

(1) Includes short-term lease costs, which are not significant.

(2) Excludes variable lease costs of $34.6 million and $35.1 million for the twelve months ended December 31, 2020 and 2019, respectively.

Supplemental cash flow information related to leases:


	Twelve Months Ended
(in thousands)	December 31, 2020		December 31, 2019
Cash paid for amounts included in measurement of operating lease liabilities	$	113,243	$	120,826
Cash paid for short-term operating leases not included in operating lease liabilities	22,339		27,402
Right-of-use assets obtained in exchange for new operating lease liabilities	104,771		78,250

Weighted-average discount rate and weighted-average remaining lease term:


(in thousands)	December 31, 2020		December 31, 2019
Weighted-average discount rate(1)	6.8	%	7.7	%
Weighted-average remaining lease term (in years)	4		4

(1) January 1, 2019 incremental borrowing rate was used for leases in existence at the time of adoption of ASU 2016-02.

Reconciliation of undiscounted operating lease liabilities to the present value operating lease liabilities at December 31, 2020:


(In thousands)	Operating Leases
2021	$	107,898
2022	81,114
2023	55,176
2024	37,554
2025	22,662
Thereafter	18,883
Total undiscounted operating lease liabilities	323,287
Less: Interest	(37,933)
Total present value of operating lease liabilities	$	285,354

In response to the COVID-19 pandemic and related government restrictions negatively impacting our operations, we renegotiated certain store lease agreements in the second quarter to obtain rent relief in the near term, in order to help offset the negative financial impacts of COVID-19. As of December 31, 2020, we renegotiated approximately 500 lease agreements, receiving near term rent abatements of approximately $2.3 million and rent deferrals of approximately $2.1 million. On April 10, 2020, the Financial Accounting Standards Board ("FASB") staff issued a question-and-answer document providing guidance for lease concessions provided to lessees in response to the effects of COVID-19. Such guidance allows lessees to make an election not to evaluate whether a lease concession provided by a lessor should be accounted for as a lease modification in the event the concession does not result in a substantial increase in the rights of the lessor or the obligations of the lessee. We elected this practical expedient in our accounting for any lease concessions provided in connection with our renegotiated lease agreements that did not result in a substantial increase in the rights of or obligations to the lessor. As a result of this election, we recognized rent abatement credits of approximately $0.8 million for the year ended December 31, 2020 in our condensed consolidated statement of operations.

Intangible Assets and Acquisitions

12 Months Ended

Dec. 31, 2020

Goodwill and Intangible Assets Disclosure [Abstract]

Intangible Assets and Acquisitions [Text Block]

Goodwill and Other Intangible Assets

Goodwill

In the fourth quarter of 2020, we completed a qualitative assessment for impairment of goodwill as of October 1, 2020, concluding it was not more likely than not that the carrying value of the net assets of our reporting units exceeded their respective fair values and therefore no impairment of goodwill existed as of December 31, 2020.

At December 31, 2020 and 2019, the amount of goodwill attributable to the Rent-A-Center Business and Preferred Lease segments was approximately $1.5 million and $68.7 million, respectively.

A summary of the changes in recorded goodwill follows:


	Year Ended December 31,
(In thousands)	2020		2019
Beginning goodwill balance	$	70,217	$	56,845
Additions from acquisitions	—		13,700

Post purchase price allocation adjustments	—		(328)
Ending goodwill balance	$	70,217	$	70,217

Other Intangible Assets

Amortizable intangible assets consist of the following:


		December 31, 2020				December 31, 2019
(Dollar amounts in thousands)	Avg. Life (years)	Gross Carrying Amount		Accumulated Amortization		Gross Carrying Amount		Accumulated Amortization
Customer relationships	2	$	80,008	$	79,853	$	80,036	$	79,941
Vendor relationships	9	9,760		2,046		9,760		1,113
Non-compete agreements	3	6,719		6,719		6,747		6,727
Total other intangible assets		$	96,487	$	88,618	$	96,543	$	87,781

Aggregate amortization expense (in thousands):


Year Ended December 31, 2020	$	1,070
Year Ended December 31, 2019	$	723
Year Ended December 31, 2018	$	671

Estimated amortization expense, assuming current intangible balances and no new acquisitions, for each of the years ending December 31, is as follows:


(In thousands)	Estimated Amortization Expense
2021	$	1,008
2022	927
2023	890
2024	890
2025	890
Thereafter	3,264
Total amortization expense	$	7,869

Accrued Liabilities

12 Months Ended

Dec. 31, 2020

Accrued Liabilities [Abstract]

Accrued liabilities [Text Block]

Accrued Liabilities


	December 31,
(In thousands)	2020		2019
Accrued insurance costs	$	94,744	$	104,557
Accrued compensation	48,027		38,547
Deferred revenue	61,066		52,589
Taxes other than income	48,038		28,397

Accrued legal settlement	5,440		440
Deferred compensation	9,437		9,711
Accrued interest payable	1,041		1,391

Accrued dividends	17,003		15,912
Accrued other	35,787		24,233
Total Accrued liabilities	$	320,583	$	275,777

Income Taxes

12 Months Ended

Dec. 31, 2020

Income Taxes [Abstract]

Income Taxes [Text Block]

Income Taxes

For financial statement purposes, earnings before income taxes by source was comprised of the following:


	Year Ended December 31,
(In thousands)	2020		2019		2018
Domestic	$	212,859	$	212,406	$	11,290
Foreign	9,920		11,377		2,551
Earnings before income taxes	$	222,779	$	223,783	$	13,841

A reconciliation of the federal statutory rate of 21% to the effective rate follows:


	Year Ended December 31,
	2020		2019		2018
Tax at statutory rate	21.0	%	21.0	%	21.0	%

State income taxes	2.8	%	4.3	%	17.6	%
Effect of foreign operations	(0.3)	%	0.3	%	(1.2)	%
Effect of current and prior year credits	(0.8)	%	(2.7)	%	(31.4)	%
Change in unrecognized tax benefits	0.3	%	—	%	10.9	%
Other permanent differences	(0.7)	%	0.2	%	14.9	%
Prior year return to provision adjustments	1.1	%	(2.7)	%	7.3	%

Benefit of CARES Act	(7.5)	%	—	%	—	%
Valuation allowance	(9.3)	%	1.2	%	(0.5)	%
Other, net	—	%	0.8	%	—	%
Effective income tax rate	6.6	%	22.4	%	38.6	%

The components of income tax expense (benefit) are as follows:


	Year Ended December 31,
(In thousands)	2020		2019		2018
Current expense (benefit)
Federal	$	14,354	$	(6,996)	$	(2,573)
State	4,735		528		816
Foreign	1,608		796		724
Total current	20,697		(5,672)		(1,033)
Deferred expense (benefit)
Federal	12,576		37,309		4,691
State	(2,956)		16,439		3,325
Foreign	(15,653)		2,161		(1,634)
Total deferred	(6,033)		55,909		6,382
Total income tax expense (benefit)	$	14,664	$	50,237	$	5,349

Deferred tax assets (liabilities) consist of the following:


	December 31,
(In thousands)	2020		2019
Deferred tax assets

Net operating loss carryforwards	$	32,834	$	34,928

Accrued liabilities	45,776		45,671
Intangible assets	9,676		13,088

Lease obligations	67,999		71,104
Other assets including credits	10,079		10,915
Foreign tax credit carryforwards	5,643		7,815
Total deferred tax assets	172,007		183,521
Valuation allowance	(21,645)		(43,555)
Deferred tax assets, net	150,362		139,966
Deferred tax liabilities
Rental merchandise	(206,833)		(193,878)
Property assets	(18,935)		(24,513)
Lease assets	(66,661)		(69,035)
Other liabilities	(561)		(1,635)
Total deferred tax liabilities	(292,990)		(289,061)
Net deferred taxes	$	(142,628)	$	(149,095)

At December 31, 2020, we had net operating loss carryforwards of approximately $293 million for state and $58 million for foreign jurisdictions, partially offset by valuation allowance. We also had federal, state and foreign tax credit carryforwards of approximately $12.8 million of which a portion has been offset by a valuation allowance. The net operating losses and credits will expire in various years between 2021 and 2040.

We file income tax returns in the U.S. and multiple foreign jurisdictions with varying statutes of limitations. In the normal course of business, we are subject to examination by various taxing authorities. We are currently under examination by certain Federal and state revenue authorities for the fiscal years 2011 through 2018. The following is a summary of all tax years that are open to examination.

•U.S. Federal - 2013 and forward

•U.S. States - 2011 and forward

•Foreign - 2013 and forward

We do not anticipate that adjustments as a result of these audits, if any, will have a material impact to our consolidated statement of operations, consolidated balance sheets, and statement of cash flows or earnings per share.

As of each reporting date, the Company’s management considers new evidence, both positive and negative, that could impact management’s view with regard to future realization of deferred tax assets. As a result, in 2020, we decreased the valuation allowance against net operating losses and credits in multiple state jurisdictions. After review of the positive evidence generated during the year related to our foreign operations in Mexico, management now believes that a portion of the deferred tax assets will more likely than not be utilized. As a result, $12.2 million has been removed from the valuation allowance related to foreign deferred tax assets in Mexico.

A reconciliation of the beginning and ending amount of unrecognized tax benefits follows:


	Year Ended December 31,
(In thousands)	2020		2019		2018
Beginning unrecognized tax benefit balance	$	24,208	$	36,364	$	37,319
Additions (Reductions) based on tax positions related to current year	1,204		(654)		(206)
Additions for tax positions of prior years	45		415		735
Reductions for tax positions of prior years	(2,086)		(11,917)		(488)
Settlements	(1,187)		—		(996)
Ending unrecognized tax benefit balance	$	22,184	$	24,208	$	36,364

Included in the balance of unrecognized tax benefits at December 31, 2020, is $2.7 million, net of federal benefit, which, if ultimately recognized, will affect our annual effective tax rate.

As of December 31, 2020, we have accrued approximately $2.7 million for the payment of interest for uncertain tax positions and recorded interest expense of approximately $0.4 million for the year then ended, which are excluded from the reconciliation of unrecognized tax benefits presented above. These amounts are net of the reversal of interest expense due to settlement of certain tax positions and closing of tax years.

On March 27, 2020, the President signed the Coronavirus Aid, Relief, and Economic Security Act, (the "CARES Act"). The CARES Act included several tax relief options for companies, including a five-year net operating loss carryback. Rent-A-Center elected to carryback its 2018 net operating losses of $119.5 million to offset the Company’s 2013 taxable income, thus generating a refund of $41.8 million and an income tax benefit of $16.7 million. The tax benefit is the result of the federal income tax rate differential between the current statutory rate of 21% and the 35% rate applicable to 2013.

The effect of the tax rate change for items originally recognized in other comprehensive income was properly recorded in tax expense from continuing operations. This results in stranded tax effects in accumulated other comprehensive income at December 31, 2020. Companies can make a policy election to reclassify from accumulated other comprehensive income to retained earnings the stranded tax effects directly arising from the change in the federal corporate tax rate. We did not exercise the option to reclassify stranded tax effects within accumulated other comprehensive income in each period in which the effect of the change in the U.S. federal corporate income tax rate resulting from the Tax Cuts and Jobs Act of 2017 was recorded.

Senior Debt

12 Months Ended

Dec. 31, 2020

Senior Debt [Abstract]

Debt Disclosure [Text Block]

Senior Debt

As of December 31, 2020, we were party to a Term Loan Credit Agreement (the “Prior Term Loan Credit Agreement”) providing for a seven-year $200 million senior secured term loan facility and an Asset Based Loan Credit Agreement (the “Prior ABL Credit Agreement”) providing a five-year asset-based revolving credit facility (the “Prior ABL Credit Facility”) with commitments of up to $300 million, the proceeds of which were used for the redemption of all of our previously outstanding senior notes due 2020.

The amount of outstanding borrowings under the Prior Term Loan Credit Agreement was $197.5 million at December 31, 2020. We had no amounts outstanding under our Prior ABL Credit Facility at December 31, 2020, and had $209.3 million available for borrowing.

Proceeds from the Prior Term Loan Credit Agreement were net of original issue discount of $2.0 million upon issuance from the lenders. In addition, in connection with the closing of the Prior Term Loan Credit Agreement and the Prior ABL Credit Agreement, we incurred approximately $6.3 million in debt issuance costs. As of December 31, 2020, the total unamortized balance of debt issuance costs and original issue discount related to our Prior Term Loan Credit Agreement and Prior ABL Credit Agreement reported in our consolidated balance sheet were $5.4 million and $1.6 million, respectively.

We also utilized the Prior ABL Credit Facility for the issuance of letters of credit. As of December 31, 2020, we have issued letters of credit in the aggregate outstanding amount of $90.7 million primarily relating to workers compensation insurance claims.

The debt facilities as of December 31, 2020 and 2019 are as follows:


		December 31, 2020						December 31, 2019
(In thousands)	Facility Maturity	Maximum Facility		Amount Outstanding		Amount Available		Maximum Facility		Amount Outstanding		Amount Available
Senior Debt:
Prior Term Loan	August 5, 2026	$	200,000	$	197,500	$	—	$	200,000	$	199,500	$	—
Prior ABL Credit Facility	August 5, 2024	300,000		—		209,268		300,000		40,000		168,200
Total		500,000		197,500		209,268		500,000		239,500		168,200
Other indebtedness:
Line of credit		—		—		—		—		—		—
Total		$	500,000	197,500		$	209,268	$	500,000	239,500		$	168,200
Unamortized debt issuance costs				(7,010)						(8,587)
Total senior debt, net				$	190,490					$	230,913

The table below shows the scheduled maturity dates of our outstanding debt at December 31, 2020 for each of the years ending December 31:


(in thousands)	Prior Term Loan		Prior ABL Credit Facility		Total
2021	$	2,000	$	—	$	2,000
2022	2,000		—		2,000
2023	2,000		—		2,000
2024	2,000		—		2,000
2025	2,000		—		2,000
Thereafter	187,500		—		187,500
Total senior debt	$	197,500	$	—	$	197,500

On February 17, 2021 in connection with the Merger, we entered into two new credit facilities as described below and issued 6.375% unsecured senior notes as described in Note L, the proceeds of which were used, in part, to prepay in full all outstanding borrowings under the Prior ABL Credit Facility and Prior Term Loan Credit Agreement, fund the Aggregate Cash Consideration upon closing of the Merger to acquire Acima, repay all outstanding indebtedness of Acima and its subsidiaries and pay certain fees and expenses incurred in connection with the Merger. Please reference Note B for discussion of our recent acquisition of Acima.

ABL Credit Agreement

On February 17, 2021, we entered into a credit agreement with JPMorgan Chase Bank, N.A., as administrative agent, and lenders party thereto, that provides for a five-year asset-based revolving credit facility with commitments of $550 million and a letter of credit sublimit of $150 million, which commitments may be increased, at the Company’s option and under certain conditions, by up to an additional $125 million in the aggregate (the “ABL Credit Facility”).

Under the ABL Credit Facility, the Company may borrow only up to the lesser of the level of the then-current borrowing base and the aggregate amount of commitments under the ABL Credit Facility. The borrowing base is tied to the amount of eligible installment sales accounts, inventory and eligible rental contracts, reduced by reserves.

The ABL Credit Facility bears interest at a fluctuating rate determined by reference to the eurodollar rate plus an applicable margin of 1.50% to 2.00%. A commitment fee equal to 0.250% to 0.375% of the unused portion of the ABL Credit Facility fluctuates dependent upon average utilization for the prior month as defined by a pricing grid included in the documentation governing the ABL Credit Facility.

Loans under the ABL Credit Facility may be borrowed, repaid and re-borrowed until February 17, 2026, at which time all amounts borrowed must be repaid. The obligations under the ABL Credit Facility are guaranteed by the Company and certain of its wholly owned domestic restricted subsidiaries, subject to certain exceptions. The obligations under the ABL Credit Facility and such guarantees are secured on a first-priority basis by all of the Company’s and the subsidiary guarantors’ accounts, inventory, deposit accounts, securities accounts, cash and cash equivalents, rental agreements, general intangibles

(other than equity interests in the Company’s subsidiaries), chattel paper, instruments, documents, letter of credit rights, commercial tort claims related to the foregoing and other related assets and all proceeds thereof related to the foregoing, subject to permitted liens and certain exceptions (such assets, collectively, the “ABL Priority Collateral”) and a second-priority basis in substantially all other present and future tangible and intangible personal property of the Company and the subsidiary guarantors, subject to certain exceptions.

The ABL Facility contains covenants that are usual and customary for similar facilities and transactions and that, among other things, restrict the ability of the Company and its restricted subsidiaries to create certain liens and enter into certain sale and lease-back transactions; create, assume, incur or guarantee certain indebtedness; consolidate or merge with, or convey, transfer or lease all or substantially all of the Company’s and its restricted subsidiaries’ assets, to another person; pay dividends or make other distributions on, or repurchase or redeem, the Company’s capital stock or certain other debt; and make other restricted payments.

The ABL Facility also requires the maintenance of a consolidated fixed charge coverage ratio of 1.10 to 1.00 at the end of each fiscal quarter when either (i) certain specified events of default have occurred and are continuing or (ii) availability is less than or equal to the greater of $56.25 million and 15% of the line cap then in effect. These covenants are subject to a number of limitations and exceptions set forth in the documentation governing the ABL Facility.

The documentation governing the ABL Facility provides for customary events of default, including, but not limited to, failure to pay principal and interest, failure to comply with covenants, agreements or conditions, and certain events of bankruptcy or insolvency involving the Company and its significant subsidiaries.

Term Loan Credit Agreement

On February 17, 2021, we entered into a term loan credit agreement with JPMorgan Chase Bank, N.A., as administrative agent, and lenders party thereto, that provides for a seven-year $875 million senior secured term loan facility (the “Term Loan Facility”). Subject in each case to certain restrictions and conditions, the Company may add up to $500 million of incremental term loan facilities to the Term Loan Facility or utilize incremental capacity under the Term Loan Facility at any time by issuing or incurring incremental equivalent term debt.

Interest on borrowings under the Term Loan Facility is payable at a fluctuating rate of interest determined by reference to the eurodollar rate plus an applicable margin of 4.00%, subject to a 0.75% LIBOR floor. Borrowings under the Term Loan Facility amortize in equal quarterly installments in an amount equal to 1.000% per annum of the original aggregate principal amount thereof, with the remaining balance due at final maturity.

The Term Loan Facility is secured by a first-priority security interest in substantially all of present and future tangible and intangible personal property of the Company and the subsidiary guarantors, other than the ABL Priority Collateral, and by a second-priority security interest in the ABL Priority Collateral, subject to certain exceptions. The obligations under the Term Loan Facility are guaranteed by the Company and the Company’s material wholly-owned domestic restricted subsidiaries that also guarantee the ABL Credit Facility.

The Term Loan contains covenants that are usual and customary for similar facilities and transactions and that, among other things, restrict the ability of the Company and its restricted subsidiaries to create certain liens and enter into certain sale and lease-back transactions; create, assume, incur or guarantee certain indebtedness; consolidate or merge with, or convey, transfer or lease all or substantially all of the Company’s and its restricted subsidiaries’ assets, to another person; pay dividends or make other distributions on, or repurchase or redeem, the Company’s capital stock or certain other debt; and make other restricted payments. The Term Loan also includes mandatory prepayment requirements related to asset sales (subject to reinvestment), debt incurrence (other than permitted debt) and excess cash flow, subject to certain limitations described therein. Any voluntary prepayment of the Term Loan Facility made using proceeds from a substantially concurrent incurrence of indebtedness and in connection with a repricing transaction in the first six months following the closing date of the Acquisition will be subject to a 1.00% prepayment premium, except that no such prepayment premium will be required in connection with a change of control or a transformative acquisition. These covenants are subject to a number of limitations and exceptions set forth in the documentation governing the Term Loan.

The Term Loan provides for customary events of default, including, but not limited to, failure to pay principal and interest, failure to comply with covenants, agreements or conditions, and certain events of bankruptcy or insolvency involving the Company and its significant subsidiaries.

The Term Loan Facility was fully drawn at the closing of the Merger to fund a portion of the Aggregate Cash Consideration payable in the Merger, repay certain outstanding indebtedness of the Company and its subsidiaries, repay all outstanding

indebtedness of Acima and its subsidiaries and pay certain fees and expenses incurred in connection with the Merger. A portion of such proceeds were used to repay $197.5 million outstanding under the Prior Term Loan Credit Agreement.

Senior Notes	3 Months Ended
Senior Notes	Sep. 30, 2019
Subsidiary Guarantors - Senior Notes [Abstract]
Subsidiary Guarantors Senior Notes [Text Block]	Senior Notes On November 2, 2010, we issued $300 million in senior unsecured notes due November 2020, bearing interest at 6.625%, and on May 2, 2013, we issued $250 million in senior unsecured notes due May 2021, bearing interest at 4.75%. The 6.625% and 4.75% senior notes were redeemed effective August 5, 2019, at a price equal to 100% of their principal amount plus accrued and unpaid interest to, but excluding, the redemption date. In connection with redeeming our senior unsecured notes, we recorded a write-down of previously unamortized debt issuance costs of approximately $2.0 million in the third quarter of 2019. On February 17, 2021, we issued $450 million in senior unsecured notes due February 15, 2029, at par value, bearing interest at 6.375% (the "Notes"), the proceeds of which were used to fund a portion of the Aggregate Cash Consideration upon closing of the Merger to acquire Acima. Interest on the Notes is payable in arrears on February 15 and August 15 of each year, beginning on August 15, 2021. The Company may redeem some or all of the Notes at any time on or after February 15, 2024 for cash at the redemption prices set forth in the indenture governing the Notes, plus accrued and unpaid interest to, but not including, the redemption date. Prior to February 15, 2024, the Company may redeem up to 40% of the aggregate principal amount of the Notes with the proceeds of certain equity offerings at a redemption price of 106.375% plus accrued and unpaid interest to, but not including, the redemption date. In addition, the Company may redeem some or all of the Notes prior to February 15, 2024, at a redemption price of 100% of the principal amount of the Notes plus accrued and unpaid interest to, but not including, the redemption date, plus a “make-whole” premium. If the Company experiences specific kinds of change of control, it will be required to offer to purchase the Notes at a price equal to 101% of the principal amount thereof plus accrued and unpaid interest. The Notes are the Company’s general unsecured senior obligations, and are effectively subordinated to all of the Company’s existing and future secured indebtedness to the extent of the value of the collateral securing such indebtedness, structurally subordinated to all existing and future indebtedness and other liabilities of the Company’s non-guarantor subsidiaries, equal in right of payment to all of the Company’s and Company’s guarantor subsidiaries’ existing and future senior indebtedness and senior in right of payment to all of the Company’s future subordinated indebtedness, if any. The Notes are jointly and severally guaranteed on a senior unsecured basis by certain of the Company’s domestic subsidiaries that have outstanding indebtedness or guarantee other specified indebtedness, including the ABL Credit Facility and the Term Loan Facility. The indenture governing the Notes contains covenants that limit, among other things, the Company’s ability and the ability of some of the Company’s restricted subsidiaries to create liens, transfer or sell assets, incur indebtedness or issue certain preferred stock, pay dividends, redeem stock or make other distributions, make other restricted payments or investments, create restrictions on payment of dividends or other amounts to the Company by its restricted subsidiaries, merge or consolidate with other entities, engage in certain transactions with affiliates and designate the Company’s subsidiaries as unrestricted subsidiaries. These covenants are subject to a number of exceptions and qualifications. The covenants limiting restricted payments, restrictions on payment of dividends or other amounts to the Company by its restricted subsidiaries, the ability to incur indebtedness, asset dispositions and transactions with affiliates will be suspended if and while the Notes have investment grade ratings from any two of Standard & Poor’s Ratings Services, Moody’s Investors Service, Inc. and Fitch, Inc. The indenture governing the Notes also provides for events of default, which, if any of them occurs, would permit or require the principal, premium, if any, and interest on all the then outstanding Notes issued under the Indenture to be due and payable.

Commitments and Contingencies	12 Months Ended
Commitments and Contingencies	Dec. 31, 2020
Commitments and Contingencies [Abstract]
Contingencies Disclosure [Text Block]	Contingencies From time to time, we, along with our subsidiaries, are party to various legal proceedings and governmental inquiries arising in the ordinary course of business. We reserve for loss contingencies that are both probable and reasonably estimable. We regularly monitor developments related to these legal proceedings, and review the adequacy of our legal reserves on a quarterly basis. We do not expect these losses to have a material impact on our condensed consolidated financial statements if and when such losses are incurred. Nevertheless, we cannot predict the impact of future developments affecting our claims and lawsuits, and any resolution of a claim or lawsuit or reserve within a particular fiscal period may materially and adversely impact our results of operations for that period. We are subject to unclaimed property audits by states in the ordinary course of business. The property subject to review in the audit process include unclaimed wages, vendor payments and customer refunds. State escheat laws generally require entities to report and remit abandoned and unclaimed property to the state. Failure to timely report and remit the property can result in assessments that could include interest and penalties, in addition to the payment of the escheat liability itself. We routinely remit escheat payments to states in compliance with applicable escheat laws. Acima Consumer Financial Protection Bureau investigation. Prior to the execution of the Merger Agreement, Acima received a Civil Investigative Demand dated October 1, 2020 (the “CID”) from the Consumer Financial Protection Bureau (the “CFPB”) requesting certain information, documents and data relating to Acima’s products, services and practices for the period from January 1, 2015 to the date on which responses to the CID are provided in full. The purpose of the CID is to determine whether Acima extends credit, offers leases, or otherwise offers or provides a consumer financial product or service and whether Acima complies with certain consumer financial protection laws. The Company is fully cooperating with the CFPB investigation and expects to submit responses to all existing requests of the CFPB no later than the end of March 2021. The CFPB has not made any allegations in the investigation, and we are currently unable to predict the eventual scope, ultimate timing or outcome of the CFPB investigation. On the terms and subject to the conditions set forth in the Merger Agreement, the former owners of Acima have agreed to indemnify Rent-A-Center for certain losses arising after the consummation of the Merger with respect to the CID and certain pre-closing taxes. The indemnification obligations of the former owners of Acima are limited to an indemnity holdback in the aggregate amount of $50 million, which amount was escrowed at the closing of the Merger, and will be Rent-A-Center’s sole recourse against the former owners of Acima with respect to all of the indemnifiable claims under the Merger Agreement. Other than with respect to any pending or unresolved claims for indemnification submitted by Rent-A-Center prior to such time, and subject to other limited exceptions, the escrowed amount will be released to the former owners of Acima as follows: (i) in respect of the CID, on the earlier of the third anniversary of the closing date of the Merger and the date on which a final determination is entered providing for a resolution of the matters regarding the CID and (ii) in respect of certain pre-closing taxes, on August 18, 2022, the first business day following the date that is 18 months after the closing date of the Merger. There can be no assurance that the CID will be finally resolved prior to the release to the former owners of Acima of the escrowed funds reserved therefor, or that such escrowed amount will be sufficient to address all covered losses or that the CFPB’s ongoing investigation or future exercise of its enforcement, regulatory, discretionary or other powers will not result in findings or alleged violations of consumer financial protection laws that could lead to enforcement actions, proceedings or litigation, whether by the CFPB, other state or federal agencies, or other parties, and the imposition of damages, fines, penalties, restitution, other monetary liabilities, sanctions, settlements or changes to Acima’s business practices or operations that could materially and adversely affect the Company's business, financial condition, results of operations or reputation. California Attorney General. The California Attorney General (“CAG”) previously issued an investigative subpoena seeking information with respect to our Acceptance Now business practices (now part of the Preferred Lease segment). The request for documents and information was sought in connection with a broader investigation of the lease-to-own industry in California. Since receiving such demand, we have cooperated with the CAG in connection with its investigation and made several productions of requested documents. In March 2020, the CAG put forth proposed settlement terms to address alleged violations of California law. After several rounds of negotiations, in September 2020, the CAG proposed revised terms. In both cases, the proposed settlement terms include civil penalties, disgorgement of certain revenues, additional training requirements, and recommended changes to Acceptance Now business practices. We believe that our business practices are in compliance with California law and are continuing to discuss resolution of the inquiry with the CAG. At this point, while we cannot predict the ultimate outcome, we do not believe any such outcome will have a material impact on our condensed consolidated financial statements.

Other Charges and (Gains)

12 Months Ended

Dec. 31, 2020

Other Charges - Operating Expenses [Abstract]

Other (Gains) and Charges [Text Block]

Other Charges and (Gains) Store Consolidations. During 2020, we closed 28 Rent-A-Center Business stores, resulting in pre-tax charges of $1.5 million in other miscellaneous shutdown and holding costs, $0.4 million in lease impairment charges, $0.1 million in disposal of fixed assets, and $0.1 million in severance and other payroll-related costs. During 2019, we closed 88 Rent-A-Center Business stores, resulting in pre-tax charges of $3.7 million in lease impairment charges, $2.3 million in other miscellaneous shutdown and holding costs, $0.9 million in disposal of fixed assets, and $0.4 million in severance and other payroll-related costs. During 2018, we closed 138 Rent-A-Center Business stores and 9 locations in Mexico, resulting in pre-tax charges of $11.2 million, consisting of $8.1 million in lease obligation costs, $1.6 million in disposal of fixed assets, $1.3 million in other miscellaneous shutdown costs, and $0.2 million in severance and other payroll-related cost.

Cost Savings Initiatives. During 2018, we began the execution of multiple cost savings initiatives, including reductions in overhead and supply chain operations. In connection with these initiatives, we recorded pre-tax charges during 2020 consisting of $0.8 million in severance and other payroll-related costs, $0.4 million in lease impairment charges, and $0.4 million in other miscellaneous shutdown and holding costs. Costs incurred during 2019 consisted of $4.9 million in lease impairment charges, $2.6 million in severance and other payroll-related costs, $2.3 million in other miscellaneous shutdown and holding costs, and $0.4 million in disposal of fixed assets. Costs incurred during 2018 related to these initiatives included pre-tax charges of $13.1 million in severance and other payroll-related costs, $6.8 million in contract termination fees, $2.3 million in other miscellaneous shutdown costs, $3.4 million in lease obligation costs, $1.9 million in legal and advisory fees, $1.9 million related to the write-down of capitalized software, and $1.0 million in disposal of fixed assets.

COVID-19 Pandemic. In March 2020, national efforts to contain the COVID-19 virus began to be implemented. In connection with COVID-19, during 2020, we incurred approximately $1.4 million in sanitization cleaning and personal protective equipment expenses, $0.4 million in payroll-related costs, and $0.2 million in lease expense related to closed stores and idled vehicles, partially offset by real estate lease abatement credits of $0.8 million for our Rent-A-Center Business stores.

Social Unrest. During the second quarter of 2020, we incurred expenses resulting from certain civil unrest that occurred in connection with efforts to institute law enforcement and other social and political reforms. In connection with this unrest, approximately 30 Rent-A-Center Business stores were looted and/or damaged, resulting in $0.9 million of inventory write-offs and less than $0.1 million in disposal of fixed assets during 2020.

California Refranchise Sale. On October 5, 2020, we sold all 99 Rent-A-Center Business corporate stores in the state of California to an experienced franchisee. We received cash consideration of approximately $16 million, including approximately $1 million paid for related franchise fees. The sale included idle and on-rent inventory of approximately $30.0 million and property assets of approximately $0.8 million, resulting in a total loss on sale of approximately $16.6 million.

Acima Acquisition. On December 20, 2020, we entered into a definitive agreement to acquire Acima Holdings LLC, a leading provider of virtual lease-to-own solutions, which was completed on February 17, 2021. In connection with this acquisition, we recorded approximately $6.4 million in acquisition-related expenses during 2020 primarily including legal and other professional fees.

Vintage Settlement. On April 22, 2019, we agreed to settle all litigation with Vintage Rodeo Parent, LLC, Vintage Rodeo Acquisition, Inc., Vintage Capital Management, LLC (collectively, “Vintage Capital”) and B. Riley Financial, Inc. (“B. Riley”) relating to our termination of the Agreement and Plan of Merger, by and among Vintage Rodeo Parent, LLC, Vintage Rodeo Acquisition, Inc. and Rent-A-Center, Inc. (the “Vintage Merger Agreement”). In such settlement, we received a payment of $92.5 million in cash in May 2019, of which we retained net pre-tax proceeds of approximately $80 million following payment of all remaining costs, fees and expenses relating to the termination (the “Vintage Settlement Proceeds”). The Vintage Settlement Proceeds were recorded as a pre-tax gain upon receipt.

Merchants Preferred Acquisition. On August 13, 2019, we completed the acquisition of substantially all of the assets of Merchants Preferred, a nationwide virtual lease-to-own provider. In connection with this acquisition, we recorded approximately $1.4 million in acquisition-related expenses during 2019 including expenses related to legal, professional, and banking transaction fees.

Sale/Partial Leaseback of Corporate Headquarters. On December 27, 2019, we completed the sale of our corporate headquarters for proceeds of $43.2 million, and entered into a lease agreement for a reduced portion, approximately 60%, of the total square footage of the building. In connection with the sale, we recorded a total gain of approximately $21.8 million in the fourth quarter of 2019.

Activity with respect to other charges and (gains) for the years ended December 31, 2019 and 2020 is summarized in the below table:


(In thousands)	Accrued Charges at December 31, 2018		Charges & Adjustments		Payments & Adjustments		Accrued Charges at December 31, 2019		Charges & Adjustments		Payments & Adjustments		Accrued Charges at December 31, 2020
Cash:
Labor reduction costs	$	7,623	$	3,039	$	(9,924)	$	738	$	1,334	$	(1,728)	$	344
Lease obligation costs(1)	4,882		—		(4,882)		—		(645)		645		—
Contract termination costs	—		—		—		—		—		—		—
Other miscellaneous	—		4,615		(4,615)		—		1,889		(1,889)		—
Total cash charges	$	12,505	7,654		$	(19,421)	$	738	2,578		$	(2,972)	$	344
Non-cash:
Rental merchandise losses(2)			—						860
Asset impairments(3)			9,938						2,749

Other(4)			(78,320)						30,368
Total other (gains) charges			$	(60,728)					$	36,555

(1) Includes lease abatement credits in 2020 related to renegotiated lease agreements in response to COVID-19. Upon adoption of ASU 2016-02, in 2019, previously accrued lease obligation costs related to discontinued operations were eliminated and are now reflected as an adjustment to our operating lease right-of-use assets in our condensed consolidated balance sheet.

(2) Reflects merchandise losses due to looting.

(3) Asset impairments primarily includes impairments of operating lease right-of-use assets and other property assets related to the closure of Rent-A-Center Business stores and previously closed product service centers, store damage related to looting, as well as a write-down of capitalized software for the year ended December 31, 2020. Asset impairments primarily includes impairments of operating lease right-of-use assets and other property assets related to the closure of Rent-A-Center Business stores and our product service centers for the year ended December 31, 2019.

(4) Other primarily includes a $16.6 million loss on the sale of our stores in California, $6.4 million in expenses related to the Merger, $7.9 million for legal settlement reserves, $1.2 million for state tax audit assessment reserves, $1.4 million in expenses related to COVID-19, partially offset by $2.8 million in proceeds received from the sale of a class action claim and $0.3 million in insurance proceeds related to Hurricane Maria in 2017 for the year ended December 31, 2020. Other primarily includes $92.5 million in Vintage Settlement Proceeds, $21.8 million gain on the sale of our corporate headquarters, and $1.1 million in insurance proceeds related to the 2017 hurricanes, offset by $21.4 million in incremental legal and professional fees related to the termination of the Vintage Merger Agreement and the Merchants Preferred acquisition, $13.0 million for the Blair class action settlement, $2.4 million in state tax audit assessments, and $0.3 million in other litigation settlements for the year ended December 31, 2019

Stock-Based Compensation

12 Months Ended

Dec. 31, 2020

Stock-Based Compensation [Abstract]

Stock-Based Compensation [Text Block]

Stock-Based Compensation

We maintain long-term incentive plans for the benefit of certain employees and directors. Our plans consist of the Rent-A-Center, Inc. 2006 Long-Term Incentive Plan (the “2006 Plan”), the Rent-A-Center, Inc. 2006 Equity Incentive Plan (the “Equity Incentive Plan”), and the Rent-A-Center 2016 Long-Term Incentive Plan (the "2016 Plan") which are collectively known as the “Plans.”

On March 9, 2016, upon the recommendation of the Compensation Committee, the Board adopted, subject to stockholder approval, the 2016 Plan and directed that it be submitted for the approval of the stockholders. On June 2, 2016, the stockholders approved the 2016 Plan. The 2016 Plan authorizes the issuance of a total of 6,500,000 shares of common stock. Any shares of common stock granted in connection with an award of stock options or stock appreciation rights will be counted against this limit as one share and any shares of common stock granted in connection with awards of restricted stock, restricted stock units, deferred stock or similar forms of stock awards other than stock options and stock appreciation rights will be counted against this limit as two shares of common stock for every one share of common stock granted in connection with such awards. No shares of common stock will be deemed to have been issued if (1) such shares covered by the unexercised portion of an option that terminates, expires, or is cancelled or settled in cash or (2) such shares are forfeited or subject to awards that are forfeited, canceled, terminated or settled in cash. In any calendar year, (1) no employee will be granted options and/or stock appreciation rights for more than 800,000 shares of common stock; (2) no employee will be granted performance-based equity awards under the 2016 Plan (other than options and stock appreciation rights), covering more than 800,000 shares of common stock; and (3) no employee will be granted performance-based cash awards for more than $5,000,000. At December 31, 2020 and 2019, there were 2,767,703 and 2,556,180 shares, respectively, allocated to equity awards outstanding in the 2016 Plan.

The 2006 Plan authorizes the issuance of 7,000,000 shares of Rent-A-Center’s common stock that may be issued pursuant to awards granted under the 2006 Plan, of which no more than 3,500,000 shares may be issued in the form of restricted stock, deferred stock or similar forms of stock awards which have value without regard to future appreciation in value of or dividends declared on the underlying shares of common stock. In applying these limitations, the following shares will be deemed not to have been issued: (1) shares covered by the unexercised portion of an option that terminates, expires, or is canceled or settled in cash, and (2) shares that are forfeited or subject to awards that are forfeited, canceled, terminated or settled in cash. At

December 31, 2020 and 2019, there were 263,657 and 450,531 shares, respectively, allocated to equity awards outstanding in the 2006 Plan. The 2006 Plan expired in accordance with its terms on March 24, 2016, and all shares remaining available for grant under the 2006 Plan were canceled.

We acquired the Equity Incentive Plan (formerly known as the Rent-Way, Inc. 2006 Equity Incentive Plan) in conjunction with our acquisition of Rent-Way in 2006. There were 2,468,461 shares of our common stock reserved for issuance under the Equity Incentive Plan. There were 231,454 and 398,551 shares allocated to equity awards outstanding in the Equity Incentive Plan at December 31, 2020 and 2019, respectively. The Equity Incentive Plan expired in accordance with its terms on January 13, 2016, and all shares remaining available for grant under the Equity Incentive Plan were canceled.

Options granted to our employees generally become exercisable over a period of 1 to 4 years from the date of grant and may be exercised up to a maximum of 10 years from the date of grant. Options granted to directors were immediately exercisable.

We grant restricted stock units to certain employees that vest after a three-year service requirement has been met. We recognize expense for these awards using the straight-line method over the requisite service period based on the number of awards expected to vest. We also grant performance-based restricted stock units that vest between 0% and 200% depending on our stock performance against an index using a total shareholder return formula established at the date of grant for the subsequent three-year period. We record expense for these awards over the requisite service period, net of the expected forfeiture rate, since the employee must maintain employment to vest in the award.

Stock-based compensation expense for the years ended December 31, 2020, 2019 and 2018 is as follows:


	Year Ended December 31,
(In thousands)	2020		2019		2018
Stock options	$	1,878	$	1,273	$	1,388
Restricted share units	10,406		5,685		4,573
Total stock-based compensation expense	12,284		6,958		5,961
Tax benefit recognized in the statements of earnings	3,062		1,562		1,739
Stock-based compensation expense, net of tax	$	9,222	5,396		$	4,222

We issue new shares of stock to satisfy option exercises and the vesting of restricted stock units.

The fair value of unvested options that we expect to result in compensation expense was approximately $4.3 million with a weighted average number of years to vesting of 2.76 at December 31, 2020.

Information with respect to stock option activity related to the Plans for the year ended December 31, 2020 follows:


	Equity Awards Outstanding	Weighted Average Exercise Price		Weighted Average Remaining Contractual Life	Aggregate Intrinsic Value (In thousands)
Balance outstanding at January 1, 2020	1,834,862	$	21.70
Granted	463,124	25.32
Exercised	(496,018)	20.63
Forfeited	(97,863)	20.03
Expired	(45,940)	29.63
Balance outstanding at December 31, 2020	1,658,165	$	22.91	6.39	$	25,957

Exercisable at December 31, 2020	752,200	$	25.96	3.97	$	9,345

The intrinsic value of options exercised during the years ended December 31, 2020, 2019, and 2018 was $5.8 million, $5.1 million, and $0.4 million, respectively, resulting in tax benefits of $2.0 million, $1.8 million, and $0.1 million, respectively, which are reflected as an outflow from operating activities and an inflow from financing activities in the consolidated statements of cash flows.

The weighted average fair values of the options granted under the Plans were calculated using the Black-Scholes method. The weighted average grant date fair value and weighted average assumptions used in the option pricing models are as follows:


	Year Ended December 31,
	2020			2019			2018
Weighted average grant date fair value	$	7.28		$	8.92		$	3.80
Weighted average risk free interest rate	0.93		%	2.07		%	2.51		%
Weighted average expected dividend yield	4.75		%	1.28		%	—		%
Weighted average expected volatility	49.44		%	50.93		%	49.58		%
Weighted average expected life (in years)	4.62			4.63			4.63

Information with respect to non-vested restricted stock unit activity follows:


	Restricted Awards Outstanding	Weighted Average Grant Date Fair Value
Balance outstanding at January 1, 2020	1,570,400	$	14.38
Granted	600,449	27.79
Vested	(667,233)	10.18
Forfeited	(119,665)	18.98
Balance outstanding at December 31, 2020	1,383,951	$	20.09

Restricted stock units are valued using the closing price reported by the Nasdaq Global Select Market on the trading day immediately preceding the day of the grant. Unrecognized compensation expense for unvested restricted stock units at December 31, 2020, was approximately $15.2 million expected to be recognized over a weighted average period of 1.73 years.

Deferred Compensation Plan	12 Months Ended
Deferred Compensation Plan	Dec. 31, 2020
Deferred Compensation Plan [Abstract]
Deferred Compensation Plan [Text Block]	Deferred Compensation Plan The Rent-A-Center, Inc. Deferred Compensation Plan (the “Deferred Compensation Plan”) is an unfunded, nonqualified deferred compensation plan for a select group of our key management personnel and highly compensated employees. The Deferred Compensation Plan first became available to eligible employees in July 2007, with deferral elections taking effect as of August 3, 2007. The Deferred Compensation Plan allows participants to defer up to 50% of their base compensation and up to 100% of any bonus compensation. Participants may invest the amounts deferred in measurement funds that are the same funds offered as the investment options in the Rent-A-Center, Inc. 401(k) Retirement Savings Plan. We may make discretionary contributions to the Deferred Compensation Plan, which are subject to a three-year graded vesting schedule based on the participant’s years of service with us. We are obligated to pay the deferred compensation amounts in the future in accordance with the terms of the Deferred Compensation Plan. Assets and associated liabilities of the Deferred Compensation Plan are included in prepaid and other assets and accrued liabilities in our consolidated balance sheets. For the years ended December 31, 2020, 2019 and 2018, we made matching cash contributions of approximately $160 thousand, $150 thousand and $50 thousand, respectively, which represents 50% of the employees’ contributions to the Deferred Compensation Plan up to an amount not to exceed 6% of each employee's respective compensation. No other discretionary contributions were made for the years ended December 31, 2020, 2019 and 2018. The deferred compensation plan assets and liabilities were approximately $9.5 million and $9.7 million as of December 31, 2020 and 2019, respectively.

401(k) Plan	12 Months Ended
401(k) Plan	Dec. 31, 2020
401(k) Plan [Abstract]
Compensation and Employee Benefit Plans [Text Block]	401(k) Plan We sponsor a defined contribution plan under Section 401(k) of the Internal Revenue Code for certain employees who have completed at least three months of service. Employees may elect to contribute up to 50% of their eligible compensation on a pre-tax basis, subject to limitations. We may make discretionary contributions to the 401(k) plan. Employer matching contributions are subject to a three-year graded vesting schedule based on the participant's years of service with us. For the years ended December 31, 2020, 2019 and 2018, we made matching cash contributions of $5.5 million, $6.6 million and $6.3 million, respectively, which represents 50% of the employees’ contributions to the 401(k) plan up to an amount not to exceed 6% of each employee's respective compensation. Employees are permitted to elect to purchase our common stock as part of their 401(k) plan, up to specified limitations. As of both December 31, 2020 and 2019, 8.2% of the total plan assets consisted of our common stock.

Fair Value	12 Months Ended
Fair Value	Dec. 31, 2020
Fair Value [Abstract]
Fair Value Disclosures [Text Block]	Fair Value We follow a three-tier fair value hierarchy, which classifies the inputs used in measuring fair values, in determining the fair value of our non-financial assets and non-financial liabilities, which consist primarily of goodwill. These tiers include: Level 1, defined as observable inputs such as quoted prices for identical instruments in active markets; Level 2, defined as inputs other than quoted prices in active markets that are either directly or indirectly observable; and Level 3, defined as unobservable inputs in which little or no market data exists, therefore requiring an entity to develop its own assumptions. There were no changes in the methods and assumptions used in measuring fair value during the period. Our financial instruments include cash and cash equivalents, receivables, payables, and borrowings against our ABL Credit Facility and Term Loan Facility. The carrying amount of cash and cash equivalents, receivables and payables approximates fair value at December 31, 2020 and December 31, 2019, because of the short maturities of these instruments. In addition, the interest rates on our Term Loan Facility and ABL Credit Facility are variable and, therefore, the carrying value of outstanding borrowings approximates their fair value.

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References + Details

Stock Repurchase Plan	12 Months Ended
Stock Repurchase Plan	Dec. 31, 2020
Stock Repurchase Plan [Abstract]
Stock repurchase plan [Text Block]	Stock Repurchase Plan Under our current common stock repurchase program, our Board of Directors has authorized the purchase, from time to time, in the open market and privately negotiated transactions, up to an aggregate of $75 million of Rent-A-Center common stock. During the twelve months ended December 31, 2020, the Company repurchased 1,463,377 shares of our common stock for an aggregate purchase price of $26.6 million, which includes shares having an aggregate purchase price of $10.0 million that were purchased under a repurchase program that was previously authorized by our Board of Directors until its replacement by the current program in March 2020. We did not repurchase any shares of common stock during the three months ended December 31, 2020. Under the March 2020 authorization, $58.4 million remains available for repurchases in the open market and privately negotiated transactions.

Segment Information

12 Months Ended

Dec. 31, 2020

Segment Information [Abstract]

Segment Information [Text Block]

Segment Information

The operating segments reported below are the segments for which separate financial information is available and for which segment results are evaluated by the chief operating decision makers. Our operating segments are organized based on factors including, but not limited to, type of business transactions, geographic location and store ownership. All operating segments offer merchandise from certain basic product categories: furniture, consumer electronics, appliances, computers, and accessories. Smartphones are also offered in our Rent-A-Center Business stores and franchise locations. In addition, in the Rent-A-Center Business segment, we have recently expanded into other product categories including tires, tools, handbags and other accessories.

We report financial operating performance under four operating segments. To better reflect the Company's current strategic focus, our retail partner business operations are now reported as the Preferred Lease segment (formerly Acceptance Now), which includes our virtual, staffed and hybrid business models; and our Rent-A-Center Business segment (formerly Core U.S.), which operates our company-owned stores and e-commerce platform through rentacenter.com. In addition, we report operating results for our Mexico and Franchising segments. Reportable segments and their respective operations are defined as follows.

Our Rent-A-Center Business segment primarily operates lease-to-own stores in the United States and Puerto Rico whose customers enter into weekly, semi-monthly or monthly rental purchase agreements, which renew automatically upon receipt of each payment. We retain the title to the merchandise during the term of the rental purchase agreement and ownership passes to the customer if the customer has continuously renewed the rental purchase agreement through the end of the term or exercises a specified early purchase option. This segment also includes the 44 stores operating in two states that utilize a retail model which generates installment credit sales through a retail sale transaction. Segment assets include cash, receivables, rental merchandise, property assets and other intangible assets.

Our Preferred Lease segment, which operates in the United States and Puerto Rico, and includes the operations of the 2019 acquisition of Merchants Preferred, generally offers the lease-to-own transactions to consumers who do not qualify for financing from the traditional retailer. Our Preferred Lease operating model is highly agile and dynamic because we can open and close locations quickly and efficiently. Generally, our Preferred Lease staffed locations consist of an area with a computer, desk and chairs. We occupy the space without charge by agreement with each retailer. In our virtual locations, transactions are initiated through an electronic portal accessible by retail partners on their store computers. Accordingly, capital expenditures with respect to new Preferred Lease locations are minimal. The transaction offered at our Preferred Lease locations (excluding virtual) is generally similar to that of the Rent-A-Center Business segment; however, we generally pay the retail price for merchandise purchased from our retail partners and subsequently leased to the customer. In addition, the majority of the customers in this segment enter into monthly rather than weekly agreements. Under the virtual business model, revenues are

earned prior to the renal payment due date. Therefore, revenue is accrued prior to receipt of the rental payment, net of estimated returns and uncollectible renewal payments. Segment assets include cash, rental merchandise, property assets, goodwill and other intangible assets.

Our Mexico segment currently consists of our company-owned lease-to-own stores in Mexico. The nature of this segment's operations and assets are the same as our Rent-A-Center Business segment.

The stores in our Franchising segment use Rent-A-Center’s, ColorTyme’s or RimTyme’s trade names, service marks, trademarks and logos, and operate under distinctive operating procedures and standards. Franchising’s primary source of revenue is the sale of rental merchandise to its franchisees who, in turn, offer the merchandise to the general public for rent or purchase under a lease-to-own program. As franchisor, Franchising receives royalties of 2.0% to 6.0% of the franchisees' monthly gross revenue and initial fees for new locations. Segment assets include cash, trade receivables, property assets and intangible assets.

Segment information as of and for the years ended December 31, 2020, 2019 and 2018 is as follows:


	Year Ended December 31,
(In thousands)	2020		2019		2018
Revenues
Rent-A-Center Business	$	1,852,641	$	1,800,486	$	1,855,712
Preferred Lease	810,151		749,260		722,562
Mexico	50,583		53,960		49,613
Franchising	100,816		66,146		32,578
Total revenues	$	2,814,191	$	2,669,852	$	2,660,465


	Year Ended December 31,
(In thousands)	2020		2019		2018
Gross profit
Rent-A-Center Business	$	1,294,695	$	1,255,153	$	1,299,809
Preferred Lease	321,110		333,798		339,616
Mexico	35,665		37,488		34,364
Franchising	20,682		17,632		14,379
Total gross profit	$	1,672,152	$	1,644,071	$	1,688,168


	Year Ended December 31,
(In thousands)	2020		2019		2018
Operating profit (loss)
Rent-A-Center Business	$	333,379	$	235,964	$	147,787
Preferred Lease	57,847		83,066		93,951
Mexico	5,798		5,357		2,605
Franchising	12,570		7,205		4,385
Total segments	409,594		331,592		248,728
Corporate	(172,258)		(77,733)		(192,591)
Total operating profit	$	237,336	$	253,859	$	56,137


	Year Ended December 31,
(In thousands)	2020		2019		2018
Depreciation and amortization
Rent-A-Center Business	$	19,912	$	20,822	$	25,566
Preferred Lease	2,066		1,533		1,677
Mexico	413		401		1,006
Franchising	40		45		172
Total segments	22,431		22,801		28,421
Corporate	34,227		38,303		40,525
Total depreciation and amortization	$	56,658	$	61,104	$	68,946


	Year Ended December 31,
(In thousands)	2020		2019		2018
Capital expenditures
Rent-A-Center Business	$	14,869	$	10,255	$	17,173
Preferred Lease	161		141		203
Mexico	392		172		295

Total segments	15,422		10,568		17,671
Corporate	19,123		10,589		10,291
Total capital expenditures	$	34,545	$	21,157	$	27,962


	December 31,
(In thousands)	2020		2019		2018
On rent rental merchandise, net
Rent-A-Center Business	$	444,945	$	411,482	$	424,829
Preferred Lease	299,660		268,845		242,978
Mexico	18,281		16,943		16,001
Total on rent rental merchandise, net	$	762,886	$	697,270	$	683,808


	December 31,
(In thousands)	2020		2019		2018
Held for rent rental merchandise, net
Rent-A-Center Business	$	136,219	$	131,086	$	117,294
Preferred Lease	2,228		1,254		1,207
Mexico	7,819		6,078		5,161
Total held for rent rental merchandise, net	$	146,266	$	138,418	$	123,662


	December 31,
(In thousands)	2020		2019		2018
Assets by segment
Rent-A-Center Business	$	999,252	$	953,151	$	714,914
Preferred Lease	389,650		357,859		312,151
Mexico	42,278		33,707		29,321
Franchising	14,729		11,095		4,287
Total segments	1,445,909		1,355,812		1,060,673
Corporate	305,071		226,986		336,244
Total assets	$	1,750,980	$	1,582,798	$	1,396,917


	December 31,
(In thousands)	2020		2019		2018
Assets by country
United States	$	1,708,702	$	1,547,895	$	1,366,405
Mexico	42,278		33,707		29,321
Canada	—		1,196		1,191
Total assets	$	1,750,980	$	1,582,798	$	1,396,917


	Year Ended December 31,
(In thousands)	2020		2019		2018
Rentals and fees by inventory category
Furniture and accessories	$	1,028,876	$	982,644	$	962,241
Appliances	358,931		346,668		344,548
Consumer electronics	322,261		358,619		410,184
Computers	119,015		103,171		120,756
Smartphones	59,205		62,948		62,592
Other products and services	374,803		370,352		344,539
Total rentals and fees	$	2,263,091	$	2,224,402	$	2,244,860


	Year Ended December 31,
(In thousands)	2020		2019		2018
Revenue by country
United States	$	2,763,608	$	2,615,892	$	2,610,432
Mexico	50,583		53,960		49,612
Canada	—		—		421
Total revenues	$	2,814,191	$	2,669,852	$	2,660,465

Earnings Per Common Share

12 Months Ended

Dec. 31, 2020

Earnings Per Common Share [Abstract]

Earnings Per Share [Text Block]

Earnings Per Common Share

Summarized basic and diluted earnings per common share were calculated as follows:


	Year Ended December 31,
(In thousands, except per share data)	2020		2019		2018
Numerator:
Net earnings	$	208,115	$	173,546	$	8,492
Denominator:
Weighted-average shares outstanding	54,187		54,325		53,471
Effect of dilutive stock awards	1,567		1,630		1,071
Weighted-average dilutive shares	55,754		55,955		54,542

Basic earnings per share	$	3.84	$	3.19	$	0.16
Diluted earnings per share	$	3.73	$	3.10	$	0.16
Anti-dilutive securities excluded from diluted earnings per common share:
Anti-dilutive restricted share units	1		—		—
Anti-dilutive performance share units	3		290		200
Anti-dilutive stock options	949		1,109		1,498

Unaudited Quarterly Data

12 Months Ended

Dec. 31, 2020

Unaudited Quarterly Data [Abstract]

Unaudited Quarterly Data [Text Block]

Unaudited Quarterly Data

Summarized quarterly financial data for the years ended December 31, 2020, and 2019 is as follows:


(In thousands, except per share data)	1st Quarter		2nd Quarter		3rd Quarter		4th Quarter
Year Ended December 31, 2020
Revenues	$	701,939	$	683,746	$	712,015	$	716,491
Gross profit	420,178		399,532		425,028		427,414
Operating profit	48,875		53,635		80,187		54,639
Net earnings	49,292		38,493		64,030		56,300
Basic earnings per common share	$	0.90	$	0.72	$	1.19	$	1.04
Diluted earnings per common share	$	0.88	$	0.70	$	1.15	$	1.00


(In thousands, except per share data)	1st Quarter		2nd Quarter		3rd Quarter		4th Quarter

Year Ended December 31, 2019
Revenues	$	696,694	$	655,925	$	649,371	$	667,862
Gross profit	424,866		408,071		399,996		411,138
Operating profit	17,349		129,829		38,847		67,834
Net earnings	7,323		94,455		31,277		40,491
Basic earnings per common share	$	0.14	$	1.74	$	0.57	$	0.74
Diluted earnings per common share	$	0.13	$	1.70	$	0.56	$	0.72

Nature of Operations and Summary of Accounting Policies Nature of Operations and Summary of Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2020
Nature of Operations and Summary of Accounting Policies [Abstract]
Principles of Consolidation and Nature of Operations [Policy Text Block]	Principles of Consolidation and Nature of Operations The financial statements included herein include the accounts of Rent-A-Center, Inc. and its direct and indirect subsidiaries. All intercompany accounts and transactions have been eliminated. Unless the context indicates otherwise, references to “Rent-A-Center” refer only to Rent-A-Center, Inc., the parent, and references to the “Company,” “we,” “us” and “our” refer to the consolidated business operations of Rent-A-Center and any or all of its direct and indirect subsidiaries. We report four operating segments: Rent-A-Center Business, Preferred Lease, Mexico and Franchising. Our Rent-A-Center Business segment consists of company-owned lease-to-own stores in the United States and Puerto Rico that lease household durable goods to customers on a lease-to-own basis. We also offer merchandise on an installment sales basis in certain of our stores under the names “Get It Now” and “Home Choice.” Our Rent-A-Center Business segment operates through our company-owned stores and e-commerce platform through rentacenter.com. At December 31, 2020, we operated 1,845 company-owned stores nationwide and in Puerto Rico, including 44 retail installment sales stores. Our Preferred Lease segment, which operates in the United States and Puerto Rico, and includes the operations of Merchants Preferred (as defined in Note B below) acquired in August 2019, generally offers the lease-to-own transaction to consumers who do not qualify for financing from the traditional retailer through kiosks located within such retailer’s locations, including staffed options, unstaffed or virtual options, or a combination of the two (the hybrid model). The hybrid model can be staffed by a Preferred Lease employee (staffed locations) or employ a virtual solution where customers, either directly or with the assistance of a representative of the third-party retailer, initiate the lease-to-own transaction online in the retailers’ locations using our virtual solutions (virtual locations). Our Mexico segment consists of our company-owned lease-to-own stores in Mexico that lease household durable goods to customers on a lease-to-own basis. At December 31, 2020, we operated 121 stores in Mexico. Rent-A-Center Franchising International, Inc., an indirect wholly-owned subsidiary of Rent-A-Center, is a franchisor of lease-to-own stores. At December 31, 2020, Franchising had 462 franchised stores operating in 33 states. Our Franchising segment’s primary source of revenue is the sale of rental merchandise to its franchisees, who in turn offer the merchandise to the general public for rent or purchase under a lease-to-own transaction. The balance of our Franchising segment’s revenue is generated primarily from royalties based on franchisees’ monthly gross revenues.
Rental Merchandise [Policy Text Block]	Rental Merchandise Rental merchandise is carried at cost, net of accumulated depreciation. Depreciation for merchandise is generally provided using the income forecasting method, which is intended to match as closely as practicable the recognition of depreciation expense with the consumption of the rental merchandise, and assumes no salvage value. The consumption of rental merchandise occurs during periods the merchandise is under a rental agreement and directly coincides with the receipt of rental revenue over the rental purchase agreement period. Under the income forecasting method, merchandise held for rent is not depreciated and merchandise on rent is depreciated in the proportion of rents received to total rents provided in the rental contract, which is an activity-based method similar to the units of production method. We depreciate merchandise (including computers and tablets) that is held for rent for at least 180 consecutive days using the straight-line method over a period generally not to exceed 18 months. Smartphones are depreciated over an 18-month straight-line basis beginning with the earlier of on rent or 90 consecutive days on held for rent. Rental merchandise that is damaged and inoperable is expensed when such impairment occurs. If a customer does not return the merchandise or make payment, the remaining book value of the rental merchandise associated with delinquent accounts is generally charged off on or before the 90th day following the time the account became past due in the Rent-A-Center Business and Mexico segments, and during the month following the 150th day in the Preferred Lease segment. We maintain a reserve for these expected expenses. In addition, any minor repairs made to rental merchandise are expensed at the time of the repair. Expenses related to merchandise losses, damaged merchandise, or merchandise repairs are recorded to other store expenses in our consolidated statement of operations.
Cash Equivalents [Policy Text Block]	Cash Equivalents Cash equivalents include all highly liquid investments with an original maturity of three months or less. We maintain cash and cash equivalents at several financial institutions, which at times may not be federally insured or may exceed federally insured limits. We have not experienced any losses in such accounts and believe we are not exposed to any significant credit risks on such accounts.
Revenues [Policy Text Block]	Revenues Merchandise is rented to customers pursuant to rental purchase agreements which provide for weekly, semi-monthly or monthly rental terms with non-refundable rental payments. Generally, the customer has the right to acquire title either through a purchase option or through payment of all required rentals. Rental revenue and fees are recognized over the rental term and merchandise sales revenue is recognized when the customer exercises the purchase option and pays the cash price due. Cash received prior to the period in which it should be recognized is deferred and recognized according to the rental term. Revenue is accrued for uncollected amounts due based on historical collection experience. However, the total amount of the rental purchase agreement is not accrued because the customer can terminate the rental agreement at any time and we cannot enforce collection for non-payment of future rents. Revenues from the sale of merchandise in our retail installment stores are recognized when the installment note is signed, the customer has taken possession of the merchandise and collectability is reasonably assured. Revenues from the sale of rental merchandise are recognized upon shipment of the merchandise to the franchisee. Franchise royalty income and fee revenue is recognized upon completion of substantially all services and satisfaction of all material conditions required under the terms of the franchise agreement. Initial franchise fees charged to franchisees for new or converted franchise stores are recognized on a straight-line basis over the term of the franchise agreement.
Receivables and Allowance for Doubtful Accounts [Policy Text Block]	Receivables and Allowance for Doubtful Accounts The installment notes receivable associated with the sale of merchandise at our Get It Now and Home Choice stores generally consists of the sales price of the merchandise purchased and any additional fees for services the customer has chosen, less the customer’s down payment. No interest is accrued and interest income is recognized each time a customer makes a payment, generally on a monthly basis. We have established an allowance for doubtful accounts for our installment notes receivable. Our policy for determining the allowance is based on historical loss experience, as well as the results of management’s review and analysis of the payment and collection of the installment notes receivable within the previous year. We believe our allowance is adequate to absorb any known or probable losses. Our policy is to charge off installment notes receivable that are 120 days or more past due. Charge-offs are applied as a reduction to the allowance for doubtful accounts and any recoveries of previously charged off balances are applied as an increase to the allowance for doubtful accounts. Our trade and notes receivables consist primarily of amounts due from our rental customers for renewal and uncollected rental payments, Franchising receivables, and other corporate related receivables. The majority of our Franchising trade and notes receivables relate to amounts due from franchisees for inventory purchases, earned royalties and other obligations. Credit is extended based on an evaluation of a franchisee’s financial condition and collateral is generally not required. Trade receivables are generally due within 30 days and are reported as amounts due from franchisees, net of an allowance for doubtful accounts. Accounts that are outstanding longer than the contractual payment terms are considered past due. Franchising determines its allowance by considering a number of factors, including the length of time receivables are past due, previous loss history, the franchisee’s current ability to pay its obligation, and the condition of the general economy and the industry as a whole. Franchising writes off trade receivables that are 90 or more days past due and payments subsequently received on such receivables are credited to the allowance for doubtful accounts.
Property Assets and Related Depreciation [Policy Text Block]	Property Assets and Related Depreciation Furniture, equipment and vehicles are stated at cost less accumulated depreciation. Depreciation is provided over the estimated useful lives of the respective assets (generally 5 years) by the straight-line method. Leasehold improvements are amortized over the useful life of the asset or the initial term of the applicable leases by the straight-line method, whichever is shorter. We have incurred costs to develop computer software for internal use. We capitalize the costs incurred during the application development stage, which includes designing the software configuration and interfaces, coding, installation, and testing. Costs incurred during the preliminary stages along with post-implementation stages of internally developed software are expensed as incurred. Internally developed software costs, once placed in service, are amortized over various periods up to 10 years. We incur repair and maintenance expenses on our vehicles and equipment. These amounts are recognized when incurred, unless such repairs significantly extend the life of the asset, in which case we amortize the cost of the repairs for the remaining useful life of the asset utilizing the straight-line method.
Goodwill and Other Intangible Assets [Policy Text Block]	Goodwill and Other Intangible Assets We record goodwill when the consideration paid for an acquisition exceeds the fair value of the identifiable net tangible and identifiable intangible assets acquired. Goodwill is not subject to amortization but must be periodically evaluated for impairment. Impairment occurs when the carrying value of goodwill is not recoverable from future cash flows. We perform an assessment of goodwill for impairment at the reporting unit level annually as of October 1, or when events or circumstances indicate that impairment may have occurred. Our reporting units are our reportable operating segments. Factors which could necessitate an interim impairment assessment include a sustained decline in our stock price, prolonged negative industry or economic trends and significant underperformance relative to expected historical or projected future operating results. Based on our assessment, if the fair value of the reporting unit exceeds its carrying value, then the goodwill is not deemed impaired. If the carrying value of the reporting unit exceeds fair value, goodwill is deemed impaired and the impairment is measured as the difference between the carrying value and the fair value of the respective reporting unit. We determine the fair value of each reporting unit using methodologies which include the present value of estimated future cash flows and comparisons of multiples of enterprise values to earnings before interest, taxes, depreciation and amortization. The analysis is based upon available information regarding expected future cash flows and discount rates. Discount rates are generally based upon our weighted average cost of capital. As an alternative to performing a quantitative assessment to measure the fair value of the reporting unit, the Company may perform a qualitative assessment for impairment if it believes it is not more likely than not that the carrying value of the net assets of the reporting unit exceeds its fair value. At December 31, 2020, the amount of goodwill attributable to the Rent-A-Center Business and Preferred Lease segments was approximately $1.5 million and $68.7 million, respectively. We currently do not have goodwill balances attributable to our Mexico or Franchising segments. Acquired customer relationships are amortized over a 21-month period, non-compete agreements are amortized over the contractual life of the agreements, vendor relationships are amortized over a 7 or 15 year period, and other intangible assets are amortized over the life of the asset. Intangible assets are amortized using methods that we believe reflect the pattern in which the economic benefits of the related asset are consumed, including using a straight-line method.
Accounting for Impairment of Long-Lived Assets [Policy Text Block]	Accounting for Impairment of Long-Lived AssetsWe evaluate all long-lived assets, including intangible assets, excluding goodwill, for impairment whenever events or changes in circumstances indicate that the carrying amounts of the related assets may not be recoverable by the undiscounted net cash flows they will generate. Impairment is recognized when the carrying amounts of such assets exceed their fair value. We determine the fair value of our long-lived assets using methodologies which include the present value of estimated future cash flows of the asset, or related fair market values for similar assets.
Self-Insurance Liabilities [Policy Text Block]	Self-Insurance Liabilities We have self-insured retentions with respect to losses under our workers’ compensation, general liability, vehicle liability and health insurance programs. We establish reserves for our liabilities associated with these losses by obtaining forecasts for the ultimate expected losses and estimating amounts needed to pay losses within our self-insured retentions. We make assumptions on our liabilities within our self-insured retentions using actuarial loss forecasts, company-specific development factors, general industry loss development factors, and third-party claim administrator loss estimates which are based on known facts surrounding individual claims. These assumptions incorporate expected increases in health care costs. Periodically, we reevaluate our estimate of liability within our self-insured retentions. At that time, we evaluate the adequacy of our reserves by comparing amounts reserved on our balance sheet for anticipated losses to our updated actuarial loss forecasts and third-party claim administrator loss estimates, and make adjustments to our reserves as needed.
Foreign Currency Translation [Policy Text Block]	Foreign Currency Translation The functional currency of our foreign operations is the applicable local currency. Assets and liabilities denominated in a foreign currency are translated into U.S. dollars at the current rate of exchange on the last day of the reporting period. Revenues and expenses are generally translated at a daily exchange rate and equity transactions are translated using the actual rate on the day of the transaction.
Other Comprehensive income (Loss) [Policy Text Block]	Other Comprehensive (Loss) Income Other comprehensive (loss) income is comprised exclusively of our foreign currency translation adjustment.
Income Taxes [Policy Text Block]	Income Taxes We record deferred taxes for temporary differences between the tax and financial reporting bases of assets and liabilities at the enacted tax rate expected to be in effect when those temporary differences are expected to be recovered or settled. Income tax accounting requires management to make estimates and apply judgments to events that will be recognized in one period under rules that apply to financial reporting in a different period in our tax returns. In particular, judgment is required when estimating the value of future tax deductions, tax credits and net operating loss carryforwards (NOLs), as represented by deferred tax assets. We evaluate the recoverability of these future tax deductions and credits by assessing the future expected taxable income from all sources, including reversal of taxable temporary differences, forecasted operating earnings and available tax planning strategies. These sources of income rely heavily on estimates. We use our historical experience and our short- and long-range business forecasts to provide insight and assist us in determining recoverability. When it is determined the recovery of all or a portion of a deferred tax asset is not likely, a valuation allowance is established. We include NOLs in the calculation of deferred tax assets. NOLs are utilized to the extent allowable due to the provisions of the Internal Revenue Code of 1986, as amended, and relevant state statutes. We recognize the financial statement benefit of a tax position only after determining that the relevant tax authority would more likely than not sustain the position following an audit. For tax positions meeting the more likely-than-not threshold, the amount recognized in the financial statements is the largest benefit that has a greater than 50 percent likelihood of being realized upon the ultimate settlement with the relevant tax authority. A number of years may elapse before a particular matter, for which we have recorded a liability, is audited and effectively settled. We review our tax positions quarterly and adjust our liability for unrecognized tax benefits in the period in which we determine the issue is effectively settled with the tax authorities, the statute of limitations expires for the relevant taxing authority to examine the tax position, or when more information becomes available. We classify accrued interest and penalties related to unrecognized tax benefits as interest expense and general & administrative expense, respectively.
Sales Tax [Policy Text Block]	Sales Taxes We apply the net basis for sales taxes imposed on our goods and services in our consolidated statements of operations. We are required by the applicable governmental authorities to collect and remit sales taxes. Accordingly, such amounts are charged to the customer, collected and remitted directly to the appropriate jurisdictional entity.
Earnings Per Common Share [Policy Text Block]	Earnings Per Common Share Basic earnings per common share are based upon the weighted average number of common shares outstanding during each period presented. Diluted earnings per common share are based upon the weighted average number of common shares outstanding during the period, plus, if dilutive, the assumed exercise of stock options and vesting of stock awards at the beginning of the year, or for the period outstanding during the year for current year issuances.
Advertising Costs [Policy Text Block]	Advertising Costs Costs incurred for producing and communicating advertising are expensed when incurred. Advertising expense was $50.9 million, $58.8 million and $74.6 million, for the years ended December 31, 2020, 2019 and 2018, respectively. Advertising expense is net of vendor allowances of $24.8 million, $21.2 million, and $17.1 million for the years ended December 31, 2020, 2019 and 2018, respectively.
Share-based Compensation [Policy Text Block]	Stock-Based Compensation We maintain long-term incentive plans for the benefit of certain employees and directors, which are described more fully in Note O. We recognize share-based payment awards to our employees and directors at the estimated fair value on the grant date. Determining the fair value of any share-based award requires information about several variables that include, but are not limited to, expected stock volatility over the term of the award, expected dividend yields, and the risk free interest rate. We base the expected term on historical exercise and post-vesting employment-termination experience, and expected volatility on historical realized volatility trends. In addition, all stock-based compensation expense is recorded net of an estimated forfeiture rate. The forfeiture rate is based upon historical activity and is analyzed at least annually as actual forfeitures occur. Compensation costs are recognized net of estimated forfeitures over the requisite service period on a straight-line basis. We issue new shares to settle stock awards. Stock options are valued using a Black-Scholes pricing model. Time-vesting restricted stock units are valued using the closing price on the Nasdaq Global Select Market on the day before the grant date, adjusted for any provisions affecting fair value, such as the lack of dividends or dividend equivalents during the vesting period. Performance-based restricted stock units will vest in accordance with a total shareholder return formula, and are valued by a third-party valuation firm using Monte Carlo simulations.
Reclassifications [Policy Text Block]	Reclassifications Certain reclassifications may be made to the reported amounts for prior periods to conform to the current period presentation. These reclassifications have no impact on net earnings or earnings per share in any period.
Use of Estimates [Policy Text Block]	Use of Estimates In preparing financial statements in conformity with U.S. generally accepted accounting principles, we are required to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent losses and liabilities at the date of the financial statements, and the reported amounts of revenues and expenses during the reporting period. In applying accounting principles, we must often make individual estimates and assumptions regarding expected outcomes or uncertainties. Our estimates, judgments and assumptions are continually evaluated based on available information and experience. However, uncertainties, including future unknown impacts of the COVID-19 pandemic, may affect certain estimates and assumptions inherent in the financial reporting process, which may impact reported amounts of assets and liabilities in future periods and cause actual results to differ from those estimates.
Newly Adopted Accounting Pronouncements [Text Block]	Newly Adopted Accounting Pronouncements In June 2016, the FASB issued ASU 2016-13, Financial Instruments—Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments, which requires immediate recognition of estimated current expected credit losses, rather than recognition when incurred. We adopted ASU 2016-13 and all related amendments, including ASU 2020-02 and ASU 2020-03, beginning January 1, 2020, using a modified retrospective approach. Under such approach, we recognized the cumulative-effect of our adoption of the guidance as an adjustment to the opening balance of retained earnings for the quarter ended March 31, 2020. The application of this new methodology is limited to our installment notes receivables and trade receivables with our franchisees, primarily related to merchandise sales. The comparative information has not been restated and continues to be reported under the accounting standards in effect for periods ending prior to January 1, 2020. The cumulative effect as of January 1, 2020 resulting from the adoption of ASU 2016-13 and related amendments was a net decrease to opening retained earnings in our condensed consolidated balance sheet of $0.8 million. See Note D for additional information regarding our trade and note receivables and related allowances for doubtful accounts. In January 2017, the FASB issued ASU 2017-04, Intangibles - Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment, which simplifies the subsequent measurement of goodwill by eliminating the hypothetical purchase price allocation and instead using the difference between the carrying amount and the fair value of the reporting unit. We adopted ASU 2017-04 beginning January 1, 2020, using a prospective approach. There was no impact on our financial statements for the twelve months ended December 31, 2020 resulting from the adoption of this ASU. In August 2018, the FASB issued ASU 2018-13, Fair Value Measurement (Topic 820): Disclosure Framework - Changes to the Disclosure Requirements for Fair Value Measurement, which removes, modifies, and adds certain disclosure requirements in ASC 820, to improve the effectiveness of the fair value measurement disclosures. We adopted ASU 2018-13 beginning January 1, 2020, using a prospective approach. There was no impact on our financial statements for the twelve months ended December 31, 2020 resulting from the adoption of this ASU. In August 2018, the FASB issued ASU 2018-15, Intangibles - Goodwill and Other - Internal-Use Software (Subtopic 350-40); Customer's Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement, which requires implementation costs incurred by customers in cloud computing arrangements to be deferred and recognized over the term of the arrangement, if those costs would be capitalized by the customer in a software licensing agreement under the internal-use software guidance in ASC 350-40. We adopted ASU 2018-15 beginning January 1, 2020, using a prospective approach. Following our adoption of this ASU, deferred implementation costs related to cloud computing arrangements are recorded to prepaid expenses and other assets in our condensed consolidated balance sheet and subsequently amortized to other store expenses in our condensed consolidated statement of operations. Impacts to our financial statements resulting from the adoption of this ASU were immaterial to our financial statements for the twelve months ended December 31, 2020. In February 2016, the FASB issued ASU 2016-02, Leases (Topic 842), which replaces existing accounting literature relating to the classification of, and accounting for, leases. Under ASU 2016-02, a company must recognize for all leases (with the exception of leases with terms of 12 months or less) a liability representing a lessee's obligation to make lease payments arising from a lease, and a right-of-use asset representing the lessee's right to use, or control the use of, a specified asset for the lease term. Lessor accounting is largely unchanged, with certain improvements to align lessor accounting with the lessee accounting model and Topic 606, Revenue from Contracts with Customers. Adoption of ASU 2016-02 requires the use of a modified retrospective transition method to measure leases at the beginning of the earliest period presented in the consolidated financial statements. In July 2018, the FASB issued ASU 2018-11, allowing companies to apply a transition method for adoption of the new standard as of the adoption date, with recognition of any cumulative-effects as adjustments to the opening balance of retained earnings in the period of adoption. We adopted these ASUs beginning January 1, 2019 and elected the transition method under ASU 2018-11. Our lease-to-own agreements, which comprise the majority of our annual revenue, fall within the scope of ASU 2016-02 under lessor accounting; however, the new standard does not significantly affect the timing of recognition or presentation of revenue for our rental contracts. As a lessee, the new standard affected a substantial portion of our lease contracts. As of December 31, 2019, we had $281.6 million operating lease right-of-use assets and $285.0 million operating lease liabilities in our condensed consolidated balance sheet. Upon adoption, we identified impairment losses related to closure of our product service centers and Rent-A-Center Business stores resulting in a cumulative-effect decrease of $2.0 million, net of tax, to our January 1, 2019 retained earnings balance. There were no significant effects to our condensed consolidated statements of operations or condensed consolidated statements of cash flows. We elected a package of optional practical expedients in our adoption of the new standard, including the option to retain the current classification for leases entered into prior to the date of adoption; the option not to reassess initial direct costs for capitalization for leases entered into prior to the date of adoption; and the option not to separate lease and non-lease components for our lease-to-own agreements as a lessor, and our real estate, and certain categories of equipment leases, as a lessee. In conjunction with the adoption of the new lease accounting standard, we implemented a new back-office lease administration and accounting system to support the new accounting and disclosure requirements as a lessee. In addition, we implemented changes to our previous accounting policies, processes, and internal controls to ensure compliance with the new standard. In February 2018, the FASB issued ASU 2018-02, Income Statement - Reporting Comprehensive Income (Topic 220): Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income, which allows a company to reclassify to retained earnings the disproportionate income tax effects of the Tax Act on items with accumulated other comprehensive income that the FASB refers to as having been stranded in accumulated other comprehensive income. The adoption of ASU 2018-02 was required for us beginning January 1, 2019. We elected not to exercise the option to reclassify stranded tax effects within accumulated other comprehensive income in each period in which the effect of the change in the U.S. federal corporate income tax rate in the Tax Act (or portion thereof) is recorded

Acquisitions and Divestitures (Tables)

12 Months Ended

Dec. 31, 2020

Business Combinations [Abstract]

Merchants Preferred acquisition [Table Text Block]


(in thousands)	August 13, 2019
Receivables	$	1,813
Prepaid expenses and other assets	154
Rental merchandise	17,904
Software	4,300
Right of use operating leases	404
Other intangible assets	8,900
Goodwill	13,403
Lease liabilities	(487)
Net identifiable assets acquired	$	46,391

Acquisitions [Table Text Block]

The following table provides information concerning the other acquisitions, excluding Merchants Preferred, made during the years ended December 31, 2020, 2019 and 2018.


	Year Ended December 31,
(Dollar amounts in thousands)	2020		2019		2018
Number of stores acquired remaining open	—		—		1
Number of stores acquired that were merged with existing stores	2		4		6
Number of transactions	2		4		7
Total purchase price	$	700	$	504	$	2,048
Amounts allocated to:
Goodwill	$	—	$	66	$	169

Customer relationships	177		85		289
Rental merchandise	523		353		1,590

Revenues Revenues (Tables)

12 Months Ended

Dec. 31, 2020

Revenues [Abstract]

Disaggregation of Revenue [Table Text Block]

The following tables disaggregates our revenue:


	Twelve Months Ended December 31, 2020
	Rent-A-Center Business		Preferred Lease		Mexico		Franchising		Consolidated
(In thousands)	Unaudited
Store
Rentals and fees	$	1,604,615	$	610,908	$	47,568	$	—	$	2,263,091
Merchandise sales	177,223		198,517		2,977		—		378,717
Installment sales	68,500		—		—		—		68,500
Other	2,303		726		38		778		3,845
Total store revenues	1,852,641		810,151		50,583		778		2,714,153
Franchise
Merchandise sales	—		—		—		80,023		80,023
Royalty income and fees	—		—		—		20,015		20,015
Total revenues	$	1,852,641	$	810,151	$	50,583	$	100,816	$	2,814,191


	Twelve Months Ended December 31, 2019
	Rent-A-Center Business		Preferred Lease		Mexico		Franchising		Consolidated
(In thousands)	Unaudited
Store
Rentals and fees	$	1,585,997	$	587,502	$	50,903	$	—	$	2,224,402
Merchandise sales	140,372		161,235		3,023		—		304,630
Installment sales	70,434		—		—		—		70,434
Other	3,683		523		34		555		4,795
Total store revenues	1,800,486		749,260		53,960		555		2,604,261
Franchise
Merchandise sales	—		—		—		49,135		49,135
Royalty income and fees	—		—		—		16,456		16,456
Total revenues	$	1,800,486	$	749,260	$	53,960	$	66,146	$	2,669,852

Receivables and Allowance for Doubtful Accounts Receivables and Allowance for Doubtful Accounts (Tables)

12 Months Ended

Dec. 31, 2020

Receivables and Allowance for Doubtful Accounts [Abstract]

Receivables [Table Text Block]

Receivables consist of the following:


	December 31,
(In thousands)	2020		2019
Installment sales receivable	$	61,794	$	56,370
Trade and notes receivables	36,256		33,354

Total receivables	98,050		89,724
Less allowance for doubtful accounts	(8,047)		(5,601)
Total receivables, net of allowance for doubtful accounts	$	90,003	$	84,123

Changes in allowance for doubtful accounts [Table Text Block]

Changes in our allowance for doubtful accounts are as follows:


	Year Ended December 31,
(In thousands)	2020		2019		2018
Beginning allowance for doubtful accounts	$	5,601	$	4,883	$	4,167
Estimated uncollectible payments and returns(1)	14,636		15,077		14,610
Accounts written off, net of recoveries	(12,190)		(14,359)		(13,894)
Ending allowance for doubtful accounts	$	8,047	$	5,601	$	4,883

(1) Uncollectible installment payments, franchisee obligations, and other corporate receivables are recognized in other store operating expenses in our condensed consolidated financial statements.

Rental Merchandise Rental Merchandise (Tables)

12 Months Ended

Dec. 31, 2020

Rental Merchandise [Abstract]

Rental Merchandise [Table Text Block]

Rental Merchandise


	December 31,
(In thousands)	2020		2019
On rent
Cost	$	1,169,333	$	1,112,130
Less accumulated depreciation	(406,447)		(414,860)
Net book value, on rent	$	762,886	$	697,270
Held for rent
Cost	$	165,879	$	163,636
Less accumulated depreciation	(19,613)		(25,218)
Net book value, held for rent	$	146,266	$	138,418

Property Assets Property Assets (Tables)

12 Months Ended

Dec. 31, 2020

Property Assets [Abstract]

Property Assets [Table Text Block]

Property Assets


	December 31,
(In thousands)	2020		2019
Software	$	279,141	$	300,690
Building and leasehold improvements	196,179		207,620
Furniture and equipment	163,623		174,741
Transportation equipment	503		567
Construction in progress	7,269		5,346
Total property assets	646,715		688,964
Less accumulated depreciation	(505,074)		(522,826)
Total property assets, net of accumulated depreciation	$	141,641	$	166,138

Leases Leases (Tables)

12 Months Ended

Dec. 31, 2020

Leases [Abstract]

Operating lease costs [Table Text Block]

Total operating lease costs by expense type:


	Twelve Months Ended
(in thousands)	December 31, 2020		December 31, 2019
Operating lease cost included in other store expenses(1)(2)	$	140,186	$	148,314
Operating lease cost included in other charges(2)	1,236		9,222
Sublease receipts	(9,727)		(7,683)
Total operating lease charges	$	131,695	$	149,853

(1) Includes short-term lease costs, which are not significant.

(2) Excludes variable lease costs of $34.6 million and $35.1 million for the twelve months ended December 31, 2020 and 2019, respectively.

Supplemental cash flow information related to leases:


	Twelve Months Ended
(in thousands)	December 31, 2020		December 31, 2019
Cash paid for amounts included in measurement of operating lease liabilities	$	113,243	$	120,826
Cash paid for short-term operating leases not included in operating lease liabilities	22,339		27,402
Right-of-use assets obtained in exchange for new operating lease liabilities	104,771		78,250

Weighted-average discount rate and weighted-average remaining lease term:


(in thousands)	December 31, 2020		December 31, 2019
Weighted-average discount rate(1)	6.8	%	7.7	%
Weighted-average remaining lease term (in years)	4		4

(1) January 1, 2019 incremental borrowing rate was used for leases in existence at the time of adoption of ASU 2016-02.

Operating lease liability maturity [Table Text Block]

Reconciliation of undiscounted operating lease liabilities to the present value operating lease liabilities at December 31, 2020:


(In thousands)	Operating Leases
2021	$	107,898
2022	81,114
2023	55,176
2024	37,554
2025	22,662
Thereafter	18,883
Total undiscounted operating lease liabilities	323,287
Less: Interest	(37,933)
Total present value of operating lease liabilities	$	285,354

Intangible Assets and Acquisitions Intangible Assets and Acquisitions (Tables)

12 Months Ended

Dec. 31, 2020

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Finite-Lived Intangible Assets [Table Text Block]

Amortizable intangible assets consist of the following:


		December 31, 2020				December 31, 2019
(Dollar amounts in thousands)	Avg. Life (years)	Gross Carrying Amount		Accumulated Amortization		Gross Carrying Amount		Accumulated Amortization
Customer relationships	2	$	80,008	$	79,853	$	80,036	$	79,941
Vendor relationships	9	9,760		2,046		9,760		1,113
Non-compete agreements	3	6,719		6,719		6,747		6,727
Total other intangible assets		$	96,487	$	88,618	$	96,543	$	87,781

Aggregate Amortization Expense [Table Text Block]

Aggregate amortization expense (in thousands):


Year Ended December 31, 2020	$	1,070
Year Ended December 31, 2019	$	723
Year Ended December 31, 2018	$	671

Schedule of Finite-Lived Intangible Assets, Future Amortization Expense [Table Text Block]

Estimated amortization expense, assuming current intangible balances and no new acquisitions, for each of the years ending December 31, is as follows:


(In thousands)	Estimated Amortization Expense
2021	$	1,008
2022	927
2023	890
2024	890
2025	890
Thereafter	3,264
Total amortization expense	$	7,869

Schedule of Goodwill [Table Text Block]

A summary of the changes in recorded goodwill follows:


	Year Ended December 31,
(In thousands)	2020		2019
Beginning goodwill balance	$	70,217	$	56,845
Additions from acquisitions	—		13,700

Post purchase price allocation adjustments	—		(328)
Ending goodwill balance	$	70,217	$	70,217

Accrued Liabilities Accrued Liabilities (Tables)

12 Months Ended

Dec. 31, 2020

Accrued Liabilities [Abstract]

Accrued liabilities [Table Text Block]

Accrued Liabilities


	December 31,
(In thousands)	2020		2019
Accrued insurance costs	$	94,744	$	104,557
Accrued compensation	48,027		38,547
Deferred revenue	61,066		52,589
Taxes other than income	48,038		28,397

Accrued legal settlement	5,440		440
Deferred compensation	9,437		9,711
Accrued interest payable	1,041		1,391

Accrued dividends	17,003		15,912
Accrued other	35,787		24,233
Total Accrued liabilities	$	320,583	$	275,777

Income Taxes Income Taxes (Tables)

12 Months Ended

Dec. 31, 2020

Income Taxes [Abstract]

Loss Before Income Tax, Domestic and Foreign [Table Text Block]

For financial statement purposes, earnings before income taxes by source was comprised of the following:


	Year Ended December 31,
(In thousands)	2020		2019		2018
Domestic	$	212,859	$	212,406	$	11,290
Foreign	9,920		11,377		2,551
Earnings before income taxes	$	222,779	$	223,783	$	13,841

Reconciliation of Income Tax Expense [Table Text Block]

A reconciliation of the federal statutory rate of 21% to the effective rate follows:


	Year Ended December 31,
	2020		2019		2018
Tax at statutory rate	21.0	%	21.0	%	21.0	%

State income taxes	2.8	%	4.3	%	17.6	%
Effect of foreign operations	(0.3)	%	0.3	%	(1.2)	%
Effect of current and prior year credits	(0.8)	%	(2.7)	%	(31.4)	%
Change in unrecognized tax benefits	0.3	%	—	%	10.9	%
Other permanent differences	(0.7)	%	0.2	%	14.9	%
Prior year return to provision adjustments	1.1	%	(2.7)	%	7.3	%

Benefit of CARES Act	(7.5)	%	—	%	—	%
Valuation allowance	(9.3)	%	1.2	%	(0.5)	%
Other, net	—	%	0.8	%	—	%
Effective income tax rate	6.6	%	22.4	%	38.6	%

Components of Income Tax Expense [Table Text Block]

The components of income tax expense (benefit) are as follows:


	Year Ended December 31,
(In thousands)	2020		2019		2018
Current expense (benefit)
Federal	$	14,354	$	(6,996)	$	(2,573)
State	4,735		528		816
Foreign	1,608		796		724
Total current	20,697		(5,672)		(1,033)
Deferred expense (benefit)
Federal	12,576		37,309		4,691
State	(2,956)		16,439		3,325
Foreign	(15,653)		2,161		(1,634)
Total deferred	(6,033)		55,909		6,382
Total income tax expense (benefit)	$	14,664	$	50,237	$	5,349

Deferred Tax Assets [Table Text Block]

Deferred tax assets (liabilities) consist of the following:


	December 31,
(In thousands)	2020		2019
Deferred tax assets

Net operating loss carryforwards	$	32,834	$	34,928

Accrued liabilities	45,776		45,671
Intangible assets	9,676		13,088

Lease obligations	67,999		71,104
Other assets including credits	10,079		10,915
Foreign tax credit carryforwards	5,643		7,815
Total deferred tax assets	172,007		183,521
Valuation allowance	(21,645)		(43,555)
Deferred tax assets, net	150,362		139,966
Deferred tax liabilities
Rental merchandise	(206,833)		(193,878)
Property assets	(18,935)		(24,513)
Lease assets	(66,661)		(69,035)
Other liabilities	(561)		(1,635)
Total deferred tax liabilities	(292,990)		(289,061)
Net deferred taxes	$	(142,628)	$	(149,095)

Unrecognized Tax Benefits [Table Text Block]

A reconciliation of the beginning and ending amount of unrecognized tax benefits follows:


	Year Ended December 31,
(In thousands)	2020		2019		2018
Beginning unrecognized tax benefit balance	$	24,208	$	36,364	$	37,319
Additions (Reductions) based on tax positions related to current year	1,204		(654)		(206)
Additions for tax positions of prior years	45		415		735
Reductions for tax positions of prior years	(2,086)		(11,917)		(488)
Settlements	(1,187)		—		(996)
Ending unrecognized tax benefit balance	$	22,184	$	24,208	$	36,364

Senior Debt (Tables)

12 Months Ended

Dec. 31, 2020

Senior Debt [Abstract]

Debt facilities [Table Text Block]

The debt facilities as of December 31, 2020 and 2019 are as follows:


		December 31, 2020						December 31, 2019
(In thousands)	Facility Maturity	Maximum Facility		Amount Outstanding		Amount Available		Maximum Facility		Amount Outstanding		Amount Available
Senior Debt:
Prior Term Loan	August 5, 2026	$	200,000	$	197,500	$	—	$	200,000	$	199,500	$	—
Prior ABL Credit Facility	August 5, 2024	300,000		—		209,268		300,000		40,000		168,200
Total		500,000		197,500		209,268		500,000		239,500		168,200
Other indebtedness:
Line of credit		—		—		—		—		—		—
Total		$	500,000	197,500		$	209,268	$	500,000	239,500		$	168,200
Unamortized debt issuance costs				(7,010)						(8,587)
Total senior debt, net				$	190,490					$	230,913

Maturities of outstanding debt [Table Text Block]

The table below shows the scheduled maturity dates of our outstanding debt at December 31, 2020 for each of the years ending December 31:


(in thousands)	Prior Term Loan		Prior ABL Credit Facility		Total
2021	$	2,000	$	—	$	2,000
2022	2,000		—		2,000
2023	2,000		—		2,000
2024	2,000		—		2,000
2025	2,000		—		2,000
Thereafter	187,500		—		187,500
Total senior debt	$	197,500	$	—	$	197,500

Other Charges and (Gains) (Tables)

12 Months Ended

Dec. 31, 2020

Other Charges - Operating Expenses [Abstract]

Other (Gains) and Charges [Table Text Block]

Activity with respect to other charges and (gains) for the years ended December 31, 2019 and 2020 is summarized in the below table:


(In thousands)	Accrued Charges at December 31, 2018		Charges & Adjustments		Payments & Adjustments		Accrued Charges at December 31, 2019		Charges & Adjustments		Payments & Adjustments		Accrued Charges at December 31, 2020
Cash:
Labor reduction costs	$	7,623	$	3,039	$	(9,924)	$	738	$	1,334	$	(1,728)	$	344
Lease obligation costs(1)	4,882		—		(4,882)		—		(645)		645		—
Contract termination costs	—		—		—		—		—		—		—
Other miscellaneous	—		4,615		(4,615)		—		1,889		(1,889)		—
Total cash charges	$	12,505	7,654		$	(19,421)	$	738	2,578		$	(2,972)	$	344
Non-cash:
Rental merchandise losses(2)			—						860
Asset impairments(3)			9,938						2,749

Other(4)			(78,320)						30,368
Total other (gains) charges			$	(60,728)					$	36,555

(2) Reflects merchandise losses due to looting.

Stock-Based Compensation Stock-Based Compensation (Tables)

12 Months Ended

Dec. 31, 2020

Stock-Based Compensation [Abstract]

Stock-based compensation expense [Table Text Block]

Stock-based compensation expense for the years ended December 31, 2020, 2019 and 2018 is as follows:


	Year Ended December 31,
(In thousands)	2020		2019		2018
Stock options	$	1,878	$	1,273	$	1,388
Restricted share units	10,406		5,685		4,573
Total stock-based compensation expense	12,284		6,958		5,961
Tax benefit recognized in the statements of earnings	3,062		1,562		1,739
Stock-based compensation expense, net of tax	$	9,222	5,396		$	4,222

Stock option activity [Table Text Block]

Information with respect to stock option activity related to the Plans for the year ended December 31, 2020 follows:


	Equity Awards Outstanding	Weighted Average Exercise Price		Weighted Average Remaining Contractual Life	Aggregate Intrinsic Value (In thousands)
Balance outstanding at January 1, 2020	1,834,862	$	21.70
Granted	463,124	25.32
Exercised	(496,018)	20.63
Forfeited	(97,863)	20.03
Expired	(45,940)	29.63
Balance outstanding at December 31, 2020	1,658,165	$	22.91	6.39	$	25,957

Exercisable at December 31, 2020	752,200	$	25.96	3.97	$	9,345

Weighted average fair values of options granted [Table Text Block]


	Year Ended December 31,
	2020			2019			2018
Weighted average grant date fair value	$	7.28		$	8.92		$	3.80
Weighted average risk free interest rate	0.93		%	2.07		%	2.51		%
Weighted average expected dividend yield	4.75		%	1.28		%	—		%
Weighted average expected volatility	49.44		%	50.93		%	49.58		%
Weighted average expected life (in years)	4.62			4.63			4.63

Nonvested restricted stock units activity [Table Text Block]

Information with respect to non-vested restricted stock unit activity follows:


	Restricted Awards Outstanding	Weighted Average Grant Date Fair Value
Balance outstanding at January 1, 2020	1,570,400	$	14.38
Granted	600,449	27.79
Vested	(667,233)	10.18
Forfeited	(119,665)	18.98
Balance outstanding at December 31, 2020	1,383,951	$	20.09

Segment Information Segment Information (Tables)

12 Months Ended

Dec. 31, 2020

Segment Information [Abstract]

Segment Information [Table Text Block]

Segment information as of and for the years ended December 31, 2020, 2019 and 2018 is as follows:


	Year Ended December 31,
(In thousands)	2020		2019		2018
Revenues
Rent-A-Center Business	$	1,852,641	$	1,800,486	$	1,855,712
Preferred Lease	810,151		749,260		722,562
Mexico	50,583		53,960		49,613
Franchising	100,816		66,146		32,578
Total revenues	$	2,814,191	$	2,669,852	$	2,660,465


	Year Ended December 31,
(In thousands)	2020		2019		2018
Gross profit
Rent-A-Center Business	$	1,294,695	$	1,255,153	$	1,299,809
Preferred Lease	321,110		333,798		339,616
Mexico	35,665		37,488		34,364
Franchising	20,682		17,632		14,379
Total gross profit	$	1,672,152	$	1,644,071	$	1,688,168


	Year Ended December 31,
(In thousands)	2020		2019		2018
Operating profit (loss)
Rent-A-Center Business	$	333,379	$	235,964	$	147,787
Preferred Lease	57,847		83,066		93,951
Mexico	5,798		5,357		2,605
Franchising	12,570		7,205		4,385
Total segments	409,594		331,592		248,728
Corporate	(172,258)		(77,733)		(192,591)
Total operating profit	$	237,336	$	253,859	$	56,137


	Year Ended December 31,
(In thousands)	2020		2019		2018
Depreciation and amortization
Rent-A-Center Business	$	19,912	$	20,822	$	25,566
Preferred Lease	2,066		1,533		1,677
Mexico	413		401		1,006
Franchising	40		45		172
Total segments	22,431		22,801		28,421
Corporate	34,227		38,303		40,525
Total depreciation and amortization	$	56,658	$	61,104	$	68,946


	Year Ended December 31,
(In thousands)	2020		2019		2018
Capital expenditures
Rent-A-Center Business	$	14,869	$	10,255	$	17,173
Preferred Lease	161		141		203
Mexico	392		172		295

Total segments	15,422		10,568		17,671
Corporate	19,123		10,589		10,291
Total capital expenditures	$	34,545	$	21,157	$	27,962


	December 31,
(In thousands)	2020		2019		2018
On rent rental merchandise, net
Rent-A-Center Business	$	444,945	$	411,482	$	424,829
Preferred Lease	299,660		268,845		242,978
Mexico	18,281		16,943		16,001
Total on rent rental merchandise, net	$	762,886	$	697,270	$	683,808


	December 31,
(In thousands)	2020		2019		2018
Held for rent rental merchandise, net
Rent-A-Center Business	$	136,219	$	131,086	$	117,294
Preferred Lease	2,228		1,254		1,207
Mexico	7,819		6,078		5,161
Total held for rent rental merchandise, net	$	146,266	$	138,418	$	123,662


	December 31,
(In thousands)	2020		2019		2018
Assets by segment
Rent-A-Center Business	$	999,252	$	953,151	$	714,914
Preferred Lease	389,650		357,859		312,151
Mexico	42,278		33,707		29,321
Franchising	14,729		11,095		4,287
Total segments	1,445,909		1,355,812		1,060,673
Corporate	305,071		226,986		336,244
Total assets	$	1,750,980	$	1,582,798	$	1,396,917


	December 31,
(In thousands)	2020		2019		2018
Assets by country
United States	$	1,708,702	$	1,547,895	$	1,366,405
Mexico	42,278		33,707		29,321
Canada	—		1,196		1,191
Total assets	$	1,750,980	$	1,582,798	$	1,396,917


	Year Ended December 31,
(In thousands)	2020		2019		2018
Rentals and fees by inventory category
Furniture and accessories	$	1,028,876	$	982,644	$	962,241
Appliances	358,931		346,668		344,548
Consumer electronics	322,261		358,619		410,184
Computers	119,015		103,171		120,756
Smartphones	59,205		62,948		62,592
Other products and services	374,803		370,352		344,539
Total rentals and fees	$	2,263,091	$	2,224,402	$	2,244,860


	Year Ended December 31,
(In thousands)	2020		2019		2018
Revenue by country
United States	$	2,763,608	$	2,615,892	$	2,610,432
Mexico	50,583		53,960		49,612
Canada	—		—		421
Total revenues	$	2,814,191	$	2,669,852	$	2,660,465

Earnings Per Common Share Earnings Per Common Share (Tables)

12 Months Ended

Dec. 31, 2020

Earnings Per Common Share [Abstract]

Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]

Summarized basic and diluted earnings per common share were calculated as follows:


	Year Ended December 31,
(In thousands, except per share data)	2020		2019		2018
Numerator:
Net earnings	$	208,115	$	173,546	$	8,492
Denominator:
Weighted-average shares outstanding	54,187		54,325		53,471
Effect of dilutive stock awards	1,567		1,630		1,071
Weighted-average dilutive shares	55,754		55,955		54,542

Basic earnings per share	$	3.84	$	3.19	$	0.16
Diluted earnings per share	$	3.73	$	3.10	$	0.16
Anti-dilutive securities excluded from diluted earnings per common share:
Anti-dilutive restricted share units	1		—		—
Anti-dilutive performance share units	3		290		200
Anti-dilutive stock options	949		1,109		1,498

Unaudited Quarterly Data Unaudited Quarterly Data (Tables)

12 Months Ended

Dec. 31, 2020

Unaudited Quarterly Data [Abstract]

Unaudited Quarterly Data [Table Text Block]

Summarized quarterly financial data for the years ended December 31, 2020, and 2019 is as follows:


(In thousands, except per share data)	1st Quarter		2nd Quarter		3rd Quarter		4th Quarter
Year Ended December 31, 2020
Revenues	$	701,939	$	683,746	$	712,015	$	716,491
Gross profit	420,178		399,532		425,028		427,414
Operating profit	48,875		53,635		80,187		54,639
Net earnings	49,292		38,493		64,030		56,300
Basic earnings per common share	$	0.90	$	0.72	$	1.19	$	1.04
Diluted earnings per common share	$	0.88	$	0.70	$	1.15	$	1.00


(In thousands, except per share data)	1st Quarter		2nd Quarter		3rd Quarter		4th Quarter

Year Ended December 31, 2019
Revenues	$	696,694	$	655,925	$	649,371	$	667,862
Gross profit	424,866		408,071		399,996		411,138
Operating profit	17,349		129,829		38,847		67,834
Net earnings	7,323		94,455		31,277		40,491
Basic earnings per common share	$	0.14	$	1.74	$	0.57	$	0.74
Diluted earnings per common share	$	0.13	$	1.70	$	0.56	$	0.72

Nature of Operations and Summary of Accounting Policies Nature of Operations and Summary of Accounting Policies (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2020 USD ($) store	Dec. 31, 2019 USD ($)	Dec. 31, 2018 USD ($)	Dec. 31, 2017 USD ($)
Nature of Operations [Abstract]
Number of company-owned stores nationwide and in Puerto Rico \| store	1,845
Number of retail installment sales stores \| store	44
Number of stores in Mexico \| store	121
Number of Franchised stores \| store	462
Number of states with Franchised stores	33
Rental merchandise, net [Abstract]
Minimum Period in Held for Rent status needed for depreciation of merchandise	180 days
Maximum Period used for depreciation of Merchandise Held for Rent	18 months
Maximum Period used for depreciation of smartphones Held for Rent	18 months
Minimum Period in Held for Rent status needed for depreciation of smartphones	90 days
Maximum period of past due required to charge off remaining book value of rental merchandise for Rent-A-Center business and Mexico segments	90 days
Maximum period of past due required to charge off remaining book value of rental merchandise for Preferred Lease segment	150 days
Receivables and Allowance for Doubtful Accounts [Abstract]
Minimum Period of Past Due Required to Charge Off installment Notes	120 days
Maximum period in current status allowed to Franchisees for payment of receivables	30 days
Minimum period of past due required to write off receivables from Franchisees	90 days
Major Property Class Useful Life [Line Items]
Goodwill	$ 70,217	$ 70,217	$ 56,845
Goodwill and Other Intangibles [Abstract]
Amortization period for acquired customer relationships	21 months
Amortization period for vendor relationships minimum	7 years
Amortization period for vendor relationships maximum	15 years
Advertising Costs [Abstract]
Advertising Costs	$ 50,900	58,800	74,600
Vendor Allowances	24,800	21,200	17,100
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Operating lease right-of-use assets	283,422	281,566
Operating lease liabilities	285,354	285,041
Adjustment to beginning retained earnings	$ (592,080)	(458,963)	(286,517)	$ (272,443)
Furniture, equipment and vehicle [Member]
Major Property Class Useful Life [Line Items]
Useful life	5 years
Internally Developed Software [Member]
Major Property Class Useful Life [Line Items]
Useful life	10 years
Rent-A-Center Business [Member]
Major Property Class Useful Life [Line Items]
Goodwill	$ 1,500
Preferred Lease [Member]
Major Property Class Useful Life [Line Items]
Goodwill	$ 68,700
Accounting Standards Update 2016-13 [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Adjustment to beginning retained earnings		769
Accounting Standards Update 2016-02 [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Operating lease right-of-use assets		281,600
Operating lease liabilities		$ 285,000
Adjustment to beginning retained earnings			$ 1,976

Acquisitions and Divestitures (Details) $ / shares in Units, $ in Thousands		12 Months Ended
	Feb. 17, 2021 USD ($) $ / shares	Dec. 31, 2020 USD ($) store	Dec. 31, 2019 USD ($) store	Dec. 31, 2018 USD ($) store	Oct. 05, 2020 USD ($) store	Aug. 13, 2019 USD ($) $ / shares
Acquisitions and Divestitures [Line Items]
Goodwill		$ 70,217	$ 70,217	$ 56,845
Acquired intangible assets weighted average useful life		21 months
Goodwill		$ 0	13,700
Proceeds from sale of assets		14,477	69,717	25,317
Royalty income and fees		20,015	16,456	13,491
On rent		762,886	697,270	683,808
Property assets, net of accumulated depreciation of $505,074 and $522,826 in 2020 and 2019, respectively		141,641	166,138
Loss (gain) on sale or disposal of property assets		(18,215)	23,537	(7,388)
Rent-A-Center Business [Member]
Acquisitions and Divestitures [Line Items]
Total purchase price		700	504	2,048
Rental merchandise		523	$ 353	$ 1,590
Goodwill		$ 1,500
Number of stores acquired remaining open \| store		0	0	1
Number of stores acquired that were merged with existing stores \| store		2	4	6
Number of transactions		2	4	7
Goodwill		$ 0	$ 66	$ 169
Royalty income and fees		0	0
On rent		444,945	411,482	424,829
Rent-A-Center Business [Member] \| Customer relationships [Member]
Acquisitions and Divestitures [Line Items]
Acquisition amounts allocated to finite-lived intangible assets		177	$ 85	$ 289
CALIFORNIA
Acquisitions and Divestitures [Line Items]
Number of stores in California [Line Items] \| store					99
Proceeds from sale of assets		16,000
Royalty income and fees		1,000
On rent					$ 30,000
Property assets, net of accumulated depreciation of $505,074 and $522,826 in 2020 and 2019, respectively					$ 800
Loss (gain) on sale or disposal of property assets		$ 16,600
Acima [Member] \| Subsequent Event
Acquisitions and Divestitures [Line Items]
Acquired entity	Acima
Acquisition date	Feb. 17, 2021
Common stock consideration	10,779,923 shares of our common stock
Common stock price \| $ / shares	$ 51.14
Aggregate purchase price	$ 1,273,300
Escrow Deposit	$ 50,000
Merchants Preferred [Member]
Acquisitions and Divestitures [Line Items]
Acquired entity			Merchants Preferred
Acquisition date			Aug. 13, 2019
Common stock consideration			701,918 shares of our common stock
Common stock price \| $ / shares						$ 27.31
Aggregate purchase price			$ 46,400
Description of acquired entity			a nationwide provider of virtual lease-to-own services
Total purchase price			$ 28,000
Working capital adjustment			$ 900
Receivables						$ 1,813
Prepaid expenses and other assets						154
Rental merchandise						17,904
Software						4,300
Right of use operating leases						404
Other intangible assets						8,900
Goodwill						13,403
Lease liabilities						(487)
Net identifiable assets acquired						$ 46,391
Acquired intangible assets weighted average useful life			10 years
Description of goodwill recognized			consists of the excess of the net purchase price over the fair value of the net assets acquired
Acquisition related expenses			$ 1,400

Revenues Revenues (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
Revenues Revenues (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Disaggregation of Revenue [Line Items]
Rentals and fees									$ 2,263,091	$ 2,224,402	$ 2,244,860
Merchandise sales									378,717	304,630	304,455
Installment sales									68,500	70,434	69,572
Other									3,845	4,795	9,000
Total store revenues									2,714,153	2,604,261	2,627,887
Franchise merchandise sales									80,023	49,135	19,087
Royalty income and fees									20,015	16,456	13,491
Total revenues	$ 716,491	$ 712,015	$ 683,746	$ 701,939	$ 667,862	$ 649,371	$ 655,925	$ 696,694	2,814,191	2,669,852	2,660,465
Rental Purchase Agreement Deferred Revenue	45,800				39,900				45,800	39,900
Other Deferred Revenue	3,100				2,900				3,100	2,900
Franchise Fee Deferred Revenue	$ 4,700				$ 4,500				4,700	4,500
Rent-A-Center Business [Member]
Disaggregation of Revenue [Line Items]
Rentals and fees									1,604,615	1,585,997
Merchandise sales									177,223	140,372
Installment sales									68,500	70,434
Other									2,303	3,683
Total store revenues									1,852,641	1,800,486
Franchise merchandise sales									0	0
Royalty income and fees									0	0
Total revenues									1,852,641	1,800,486	1,855,712
Preferred Lease [Member]
Disaggregation of Revenue [Line Items]
Rentals and fees									610,908	587,502
Merchandise sales									198,517	161,235
Installment sales									0	0
Other									726	523
Total store revenues									810,151	749,260
Franchise merchandise sales									0	0
Royalty income and fees									0	0
Total revenues									810,151	749,260	722,562
Mexico [Member]
Disaggregation of Revenue [Line Items]
Rentals and fees									47,568	50,903
Merchandise sales									2,977	3,023
Installment sales									0	0
Other									38	34
Total store revenues									50,583	53,960
Franchise merchandise sales									0	0
Royalty income and fees									0	0
Total revenues									50,583	53,960	49,613
Franchising [Member]
Disaggregation of Revenue [Line Items]
Rentals and fees									0	0
Merchandise sales									0	0
Installment sales									0	0
Other									778	555
Total store revenues									778	555
Franchise merchandise sales									80,023	49,135
Royalty income and fees									20,015	16,456
Total revenues									$ 100,816	$ 66,146	$ 32,578

Receivables and Allowance for Doubtful Accounts Receivables and Allowance for Doubtful Accounts (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Receivables [Line Items]
Proceeds from Interest Received	$ 11,500	$ 10,800	$ 11,000
Accounts Receivable, before Allowance for Credit Loss	98,050	89,724
Receivables, net of allowance for doubtful accounts of $8,047 and $5,601 in 2020 and 2019, respectively	90,003	84,123
Changes in allowance for doubtful accounts [Roll Forward]
Bad debt expense	14,635	15,077	14,610
Accounts written off	(12,190)	(14,359)	(13,894)
Allowance for doubtful accounts	(8,047)	(5,601)	$ (4,883)	$ (4,167)
Installment sales receivable [Member]
Receivables [Line Items]
Accounts Receivable, before Allowance for Credit Loss	61,794	56,370
Changes in allowance for doubtful accounts [Roll Forward]
Allowance for doubtful accounts	(7,000)	(4,100)
Trade and notes receivables [Member]
Receivables [Line Items]
Accounts Receivable, before Allowance for Credit Loss	36,256	33,354
Changes in allowance for doubtful accounts [Roll Forward]
Allowance for doubtful accounts	$ (1,000)	$ (1,500)

Rental Merchandise Rental Merchandise (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Rental Merchandise [Abstract]
On rent cost	$ 1,169,333	$ 1,112,130
On rent accumulated depreciation	(406,447)	(414,860)
On rent	762,886	697,270	$ 683,808
Held for rent cost	165,879	163,636
Held for rent accumulated depreciation	(19,613)	(25,218)
Held for rent	$ 146,266	$ 138,418	$ 123,662

Property Assets Property Assets (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Property, Plant and Equipment [Line Items]
Software	$ 279,141	$ 300,690
Building and leasehold improvements	196,179	207,620
Furniture and equipment	163,623	174,741
Transportation equipment	503	567
Construction in progress	7,269	5,346
Total property assets	646,715	688,964
Accumulated depreciation of property assets	(505,074)	(522,826)
Property assets, net of accumulated depreciation of $505,074 and $522,826 in 2020 and 2019, respectively	141,641	166,138
Capitalized software costs included in construction in progress	4,800	3,800
Cost of internally developed software placed in service	9,500	6,000	$ 9,700
Proceeds from sale of corporate headquarters	43,200
Gain on sale of corporate headquarters	21,800	$ 21,800
Corporate headquarters lease terms		The lease includes an initial term of 12 years, with two five year renewal option periods at our discretion
Operating lease right-of-use assets	283,422	$ 281,566
Corporate Headquarters [Member]
Property, Plant and Equipment [Line Items]
Operating lease right-of-use assets	$ 19,000
Building and building improvements [Member]
Property, Plant and Equipment [Line Items]
Write-off		14,000
Land and land improvements [Member]
Property, Plant and Equipment [Line Items]
Write-off		$ 6,700

Leases Leases (Details) $ in Thousands	12 Months Ended
Leases Leases (Details) $ in Thousands	Dec. 31, 2020 USD ($) store	Dec. 31, 2019 USD ($)
Lessee, Lease, Description [Line Items]
Operating lease charges	$ 131,695	$ 149,853
Sublease receipts	(9,727)	(7,683)
Cash paid for amounts included in measurement of operating lease liabilities	113,243	120,826
Cash paid for short-term operating leases not included in operating lease liabilities	22,339	27,402
Right-of-use asset obtained in exchange for new operating lease liabilities	$ 104,771	$ 78,250
Weighted-average discount rate	6.80%	7.70%
Weighted-average remaining lease term (in years)	4 years	4 years
2021	$ 107,898
2022	81,114
2023	55,176
2024	37,554
2025	22,662
Thereafter	18,883
Total undiscounted operating lease liabilities	323,287
Less: Interest	(37,933)
Operating lease liabilities	$ 285,354	$ 285,041
Operating lease, number of units \| store	500
COVID Rent Abatement	$ 2,300
COVID Rent Deferral	2,100
Payments for Rent	800
Other store expenses [Member]
Lessee, Lease, Description [Line Items]
Operating lease charges	140,186	148,314
Other charges [Member]
Lessee, Lease, Description [Line Items]
Operating lease charges	$ 1,236	$ 9,222

Intangible Assets and Acquisitions Intangible Assets and Acquisitions (Details) - USD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Intangible Assets and Acquisitions [Line Items]
Goodwill impairment charge	$ 0
Goodwill	70,217,000	$ 70,217,000	$ 56,845,000
Goodwill	0	13,700,000
Post purchase price allocation adjustments	0	(328,000)
Gross carrying amount	96,487,000	96,543,000
Accumulated amortization	88,618,000	87,781,000
Amortization of intangibles	1,070,000	723,000	671,000
Finite-Lived Intangible Assets, Net, Amortization Expense, Rolling Maturity [Abstract]
2021 Estimated amortization expense	1,008,000
2022 Estimated amortization expense	927,000
2023 Estimated amortization expense	890,000
2024 Estimated amortization expense	890,000
2025 Estimated amortization expense	890,000
Thereafter Estimated amortization expense	3,264,000
Other intangible assets, net	7,869,000	8,762,000
Rent-A-Center Business [Member]
Intangible Assets and Acquisitions [Line Items]
Goodwill	1,500,000
Goodwill	0	66,000	$ 169,000
Preferred Lease [Member]
Intangible Assets and Acquisitions [Line Items]
Goodwill	$ 68,700,000
Customer relationships [Member]
Intangible Assets and Acquisitions [Line Items]
Average life	2 years
Gross carrying amount	$ 80,008,000	80,036,000
Accumulated amortization	$ 79,853,000	79,941,000
Vendor relationships [Member]
Intangible Assets and Acquisitions [Line Items]
Average life	9 years
Gross carrying amount	$ 9,760,000	9,760,000
Accumulated amortization	$ 2,046,000	1,113,000
Non-compete agreements [Member]
Intangible Assets and Acquisitions [Line Items]
Average life	3 years
Gross carrying amount	$ 6,719,000	6,747,000
Accumulated amortization	$ 6,719,000	$ 6,727,000

Accrued Liabilities Accrued Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Accrued Liabilities [Abstract]
Accrued insurance costs	$ 94,744	$ 104,557
Accrued compensation	48,027	38,547
Deferred revenue	61,066	52,589
Taxes other than income	48,038	28,397
Accrued legal settlement	5,440	440
Deferred compensation	9,437	9,711
Accrued interest payable	1,041	1,391
Accrued dividends	17,003	15,912
Accrued other	35,787	24,233
Accrued liabilities	$ 320,583	$ 275,777

Income Taxes Income Taxes (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2013
Income Taxes [Abstract]
Domestic loss before income taxes	$ 212,859	$ 212,406	$ 11,290
Foreign loss before income taxes	9,920	11,377	2,551
Earnings before income taxes	$ 222,779	$ 223,783	$ 13,841
Tax at statutory rate	21.00%	21.00%	21.00%	35.00%
State income taxes	2.80%	4.30%	17.60%
Effect of foreign operations	(0.30%)	0.30%	(1.20%)
Effect of current and prior year credits	(0.80%)	(2.70%)	(31.40%)
Change in unrecognized tax benefits	0.30%	0.00%	10.90%
Other permanent differences	(0.70%)	0.20%	14.90%
Prior year return to provision adjustments	1.10%	(2.70%)	7.30%
Benefit of CARES Act	(7.50%)	0.00%	0.00%
Valuation allowance	(9.30%)	1.20%	(0.50%)
Other, net	0.00%	0.80%	0.00%
Effective income tax rate	6.60%	22.40%	38.60%
Federal current expense (benefit)	$ 14,354	$ (6,996)	$ (2,573)
State current expense	4,735	528	816
Foreign current expense	1,608	796	724
Total current	20,697	(5,672)	(1,033)
Federal deferred expense	12,576	37,309	4,691
State deferred (benefit) expense	(2,956)	16,439	3,325
Foreign deferred (benefit) expense	(15,653)	2,161	(1,634)
Total deferred (benefit) expense	(6,033)	55,909	6,382
Income tax expense	14,664	50,237	5,349	$ 16,700
Net operating loss carryforwards	32,834	34,928		119,500
Accrued liabilities	45,776	45,671
Intangible assets	9,676	13,088
Lease obligations	67,999	71,104
Other assets including credits	10,079	10,915
Foreign tax credit carryfowards	5,643	7,815
Total deferred tax assets	172,007	183,521
Valuation allowance	(21,645)	(43,555)
Deferred tax assets, net	150,362	139,966
Rental merchandise	(206,833)	(193,878)
Property assets	(18,935)	(24,513)
Lease assets	(66,661)	(69,035)
Other liabilities	(561)	(1,635)
Total deferred tax liabilities	(292,990)	(289,061)
Net deferred taxes	(142,628)	(149,095)
Valuation allowance decrease	12,200
Operating Loss Carryforwards [Line Items]
Tax credit carryforward	12,800
Income taxes refunded	32,318	$ 2,074	$ 47,837	$ 41,800
State [Member]
Operating Loss Carryforwards [Line Items]
Net operating loss carryforwards	293,000
Foreign [Member]
Operating Loss Carryforwards [Line Items]
Net operating loss carryforwards	$ 58,000

Income Taxes Unrecognized tax benefit (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Income Taxes [Abstract]
Unrecognized tax benefit balance	$ 22,184	$ 24,208	$ 36,364	$ 37,319
Reductions based on tax positions related to current year	1,204	654	206
Additions for tax positions of prior years	45	415	735
Reductions for tax positions of prior years	(2,086)	(11,917)	(488)
Settlements	(1,187)	$ 0	$ (996)
Tax benefits, if recognized, affect annual effective tax rate	2,700
Accrued for payment of interest related to unrecognized tax benefits	2,700
Interest expense related to unrecognized tax benefits	$ 400

Senior Debt (Details) - USD ($)	3 Months Ended	12 Months Ended
Senior Debt (Details) - USD ($)	Mar. 31, 2021	Dec. 31, 2020	Feb. 17, 2021	Dec. 31, 2019	Aug. 05, 2019
Debt Instrument [Line Items]
Senior debt		$ 197,500,000		$ 239,500,000
Original issue discount					$ 2,000,000.0
Debt issuance costs					$ 6,300,000
Unamortized debt issuance expense		(7,010,000)		(8,587,000)
Letters of credit, amount outstanding		90,700,000
Senior debt, net		190,490,000		230,913,000
Debt Issuance Costs [Member]
Debt Instrument [Line Items]
Unamortized debt issuance expense		(5,400,000)
Original Issue Discount [Member]
Debt Instrument [Line Items]
Unamortized debt issuance expense		(1,600,000)
Subsequent Event
Debt Instrument [Line Items]
Required minimum consolidated fixed charge coverage ratio			110.00%
Subsequent Event \| Minimum [Member]
Debt Instrument [Line Items]
Line of credit commitment fee percentage	0.25%
Subsequent Event \| Maximum [Member]
Debt Instrument [Line Items]
Line of credit commitment fee percentage	0.375%
Term loan [Member]
Debt Instrument [Line Items]
Senior debt		197,500,000		199,500,000
Maximum borrowing capacity		200,000,000		200,000,000
Amount outstanding		197,500,000
Amount available		$ 0		0
Maturity date		Aug. 05, 2026
2021		$ 2,000,000
2022		2,000,000
2023		2,000,000
2024		2,000,000
2025		2,000,000
Thereafter		187,500,000
Term loan [Member] \| Maximum [Member]
Debt Instrument [Line Items]
Senior debt		200,000,000
Term loan [Member] \| Subsequent Event \| Maximum [Member]
Debt Instrument [Line Items]
Senior debt			$ 875,000,000
Term loan [Member] \| Subsequent Event \| Eurodollar [Member]
Debt Instrument [Line Items]
Basis margin on variable rate	4.00%
Term loan [Member] \| Subsequent Event \| LIBOR [Member]
Debt Instrument [Line Items]
Basis margin on variable rate	0.75%
ABL credit facility [Member]
Debt Instrument [Line Items]
Senior debt		0		40,000,000
ABL credit facility availability		209,268,000		168,200,000
Maximum borrowing capacity		300,000,000		300,000,000
Amount outstanding		$ 0
Maturity date		Aug. 05, 2024
2021		$ 0
2022		0
2023		0
2024		0
2025		0
Thereafter		0
ABL credit facility [Member] \| Maximum [Member]
Debt Instrument [Line Items]
Senior debt		300,000,000
ABL credit facility [Member] \| Subsequent Event \| Maximum [Member]
Debt Instrument [Line Items]
Senior debt			$ 550,000,000
ABL credit facility [Member] \| Subsequent Event \| Eurodollar [Member] \| Minimum [Member]
Debt Instrument [Line Items]
Basis margin on variable rate	1.50%
ABL credit facility [Member] \| Subsequent Event \| Eurodollar [Member] \| Maximum [Member]
Debt Instrument [Line Items]
Basis margin on variable rate	2.00%
Term Loan and Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Maximum borrowing capacity		500,000,000		500,000,000
Amount available		209,268,000		168,200,000
Line of Credit [Member]
Debt Instrument [Line Items]
Unsecured line of credit, maximum facility		0		0
Unsecured line of credit, amount outstanding		0		0
Amount available		0		0
Senior Debt [Member]
Debt Instrument [Line Items]
Maximum borrowing capacity		500,000,000		500,000,000
Amount outstanding		197,500,000		239,500,000
Amount available		209,268,000		$ 168,200,000
2021		2,000,000
2022		2,000,000
2023		2,000,000
2024		2,000,000
2025		2,000,000
Thereafter		$ 187,500,000

Senior Notes Senior Notes (Details) - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2021	Sep. 30, 2019	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Feb. 17, 2021	May 02, 2013	Nov. 02, 2010
Senior Notes [Line Items]
Senior note redemption price, percent			100.00%
Write-off of debt financing fees			$ 0	$ 2,168	$ 475
Subsequent Event
Senior Notes [Line Items]
Debt Instrument, Redemption Price, Percentage	106.375%
Senior Notes Due 2020 [Member]
Senior Notes [Line Items]
Initial borrowing in senior notes								$ 300,000
Senior Notes Due 2021 [Member]
Senior Notes [Line Items]
Initial borrowing in senior notes							$ 250,000
Write-off of debt financing fees		$ 2,000
Senior Notes Due 2029 [Member] \| Subsequent Event
Senior Notes [Line Items]
Initial borrowing in senior notes						$ 450,000

Commitments and Contingencies Commitments and Contingencies (Details) $ in Millions	Feb. 17, 2021 USD ($)
Acima [Member] \| Subsequent Event
Loss Contingencies [Line Items]
Escrow Deposit	$ 50.0

Other Charges and (Gains) (Details) $ in Thousands	12 Months Ended
Other Charges and (Gains) (Details) $ in Thousands	Dec. 31, 2020 USD ($) store	Dec. 31, 2019 USD ($) store	Dec. 31, 2018 USD ($) store	Oct. 05, 2020 USD ($) store
Restructuring Cost and Reserve [Line Items]
Restructuring cash charges	$ 2,578	$ 7,654
Payments for Rent	800
Proceeds from sale of assets	14,477	69,717	$ 25,317
Royalty income and fees	20,015	16,456	13,491
On rent	762,886	697,270	683,808
Property assets, net of accumulated depreciation of $505,074 and $522,826 in 2020 and 2019, respectively	141,641	166,138
Loss (gain) on sale or disposal of property assets	(18,215)	23,537	(7,388)
Cash payment from Vintage settlement	92,500
Proceeds from Vintage settlement	80,000
Proceeds from sale of corporate headquarters	43,200
Gain on sale of corporate headquarters	21,800	21,800
Restructuring Reserve	344	738	12,505
Restructuring payments	2,972	19,421
Other charges and (gains)	36,555	(60,728)	59,324
CALIFORNIA
Restructuring Cost and Reserve [Line Items]
Number of stores in California [Line Items] \| store				99
Proceeds from sale of assets	16,000
Royalty income and fees	1,000
On rent				$ 30,000
Property assets, net of accumulated depreciation of $505,074 and $522,826 in 2020 and 2019, respectively				$ 800
Loss (gain) on sale or disposal of property assets	16,600
Sale of California Stores [Member]
Restructuring Cost and Reserve [Line Items]
Other	16,600
Acima [Member]
Restructuring Cost and Reserve [Line Items]
Other	6,400
Legal settlement reserves [Member]
Restructuring Cost and Reserve [Line Items]
Other	7,900
State tax audit assessments [Member]
Restructuring Cost and Reserve [Line Items]
Other	1,200
COVID-19 Pandemic [Member]
Restructuring Cost and Reserve [Line Items]
Other	1,400
Sale of class action claim [Member]
Restructuring Cost and Reserve [Line Items]
Other	2,800
Insurance proceeds [Member]
Restructuring Cost and Reserve [Line Items]
Other	300	1,100
Vintage Settlement [Member]
Restructuring Cost and Reserve [Line Items]
Other		92,500
Sale of corporate headquarters [Member]
Restructuring Cost and Reserve [Line Items]
Other		21,800
Incremental legal and professional fees [Member]
Restructuring Cost and Reserve [Line Items]
Other		21,400
Blair settlement [Member]
Restructuring Cost and Reserve [Line Items]
Other		13,000
Other settlements [Member]
Restructuring Cost and Reserve [Line Items]
Other		300
Other miscellaneous [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring cash charges	1,889	4,615
Restructuring Reserve	0	0	0
Restructuring payments	1,889	4,615
Labor reduction costs [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring cash charges	1,334	3,039
Restructuring Reserve	344	738	7,623
Restructuring payments	1,728	9,924
Lease obligation costs [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring cash charges	(645)	0
Restructuring Reserve	0	0	4,882
Restructuring payments	645	4,882
Contract Termination [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring cash charges	0	0
Restructuring Reserve	0	0	0
Restructuring payments	0	0
Rent-A-Center Business [Member]
Restructuring Cost and Reserve [Line Items]
Royalty income and fees	0	0
On rent	444,945	411,482	424,829
Mexico [Member]
Restructuring Cost and Reserve [Line Items]
Royalty income and fees	0	0
On rent	18,281	16,943	16,001
Preferred Lease [Member]
Restructuring Cost and Reserve [Line Items]
Legal Fees	(1,400)
Royalty income and fees	0	0
On rent	299,660	268,845	242,978
Store Consolidation Plan [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring cash charges			11,200
Store Consolidation Plan [Member] \| Other miscellaneous [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring cash charges	1,500	2,300	1,300
Store Consolidation Plan [Member] \| Disposal of fixed assets [Member]
Restructuring Cost and Reserve [Line Items]
Asset impairments	100	900	1,600
Store Consolidation Plan [Member] \| Labor reduction costs [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring cash charges	$ 100	$ 400	200
Store Consolidation Plan [Member] \| Lease obligation costs [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring cash charges			$ 8,100
Store Consolidation Plan [Member] \| Rent-A-Center Business [Member]
Restructuring Cost and Reserve [Line Items]
Number of stores closed \| store	28	88	138
Store Consolidation Plan [Member] \| Mexico [Member]
Restructuring Cost and Reserve [Line Items]
Number of stores closed \| store			9
Cost Savings Initiative [Member]
Restructuring Cost and Reserve [Line Items]
Legal Fees			$ 1,900
Cost Savings Initiative [Member] \| Other miscellaneous [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring cash charges	$ 400	$ 2,300	2,300
Cost Savings Initiative [Member] \| Disposal of fixed assets [Member]
Restructuring Cost and Reserve [Line Items]
Asset impairments		400	1,000
Cost Savings Initiative [Member] \| Labor reduction costs [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring cash charges	800	2,600	13,100
Cost Savings Initiative [Member] \| Lease obligation costs [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring cash charges			3,400
Cost Savings Initiative [Member] \| Contract Termination [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring cash charges			6,800
Cost Savings Initiative [Member] \| Capitalized software write-down [Member]
Restructuring Cost and Reserve [Line Items]
Asset impairments			$ 1,900
COVID-19 Pandemic [Member]
Restructuring Cost and Reserve [Line Items]
Other	1,400
Payments for Rent	800
COVID-19 Pandemic [Member] \| Labor reduction costs [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring cash charges	400
COVID-19 Pandemic [Member] \| Lease obligation costs [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring cash charges	200
Social Unrest [Member]
Restructuring Cost and Reserve [Line Items]
Rental merchandise losses	900
Social Unrest [Member] \| Disposal of fixed assets [Member]
Restructuring Cost and Reserve [Line Items]
Asset impairments	$ 100
Social Unrest [Member] \| Rent-A-Center Business [Member]
Restructuring Cost and Reserve [Line Items]
Number of stores closed \| store	30
Non-Cash Charges [Member]
Restructuring Cost and Reserve [Line Items]
Asset impairments	$ 2,749	9,938
Other	30,368	(78,320)
Rental merchandise losses	860	0
Non-Cash Charges [Member] \| Store Consolidation Plan [Member]
Restructuring Cost and Reserve [Line Items]
Asset impairments	400	3,700
Non-Cash Charges [Member] \| Cost Savings Initiative [Member]
Restructuring Cost and Reserve [Line Items]
Asset impairments	$ 400	$ 4,900

Stock-Based Compensation Stock-Based Compensation (Details) - USD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock options outstanding	1,658,165	1,834,862
Exercise period of options once vested	10 years
Stock-based compensation expense	$ 12,284,000	$ 6,958,000	$ 5,961,000
Tax benefit recognized in the statements of earnings	3,062,000	1,562,000	1,739,000
Share-based compensation expense, net of tax	$ 9,222,000	$ 5,396,000	4,222,000
Stock options granted	463,124
Exercise of stock options, shares	(496,018)
Stock options forfeited	(97,863)
Stock options expired	(45,940)
Stock options outstanding, weighted average exercise price	$ 22.91	$ 21.70
Stock options granted, weighted average exercise price	25.32
Stock options exercised, weighted average exercise price	20.63
Stock options forfeited, weighted average exercise price	20.03
Stock options expired, weighted average exercise price	$ 29.63
Stock options outstanding, weighted average remaining contractual life	6 years 4 months 20 days
Stock options outstanding, aggregate intrinsic value	$ 25,957,000
Stock options exercisable	752,200
Stock options exercisable, weighted average exercise price	$ 25.96
Stock options exercisable, weighted average remaining contractual life	3 years 11 months 19 days
Stock options exercisable, aggregate intrinsic value	$ 9,345,000
Stock options exercised, intrinsic value	5,800,000	$ 5,100,000	400,000
Tax benefits from exercise of stock options	$ 2,000,000.0	$ 1,800,000	$ 100,000
Weighted average grant date fair value	$ 7.28	$ 8.92	$ 3.80
Weighted average risk free interest rate	0.93%	2.07%	2.51%
Weighted average expected dividend yield	4.75%	1.28%	0.00%
Weighted average expected volatility	49.44%	50.93%	49.58%
Weighted average expected life (in years)	4 years 7 months 13 days	4 years 7 months 17 days	4 years 7 months 17 days
Restricted share units outstanding	1,383,951	1,570,400
Restricted share units granted	600,449
Restricted share units vested	(667,233)
Restricted share units forfeited	(119,665)
Restricted share units outstanding, weighted average exercise price	$ 20.09	$ 14.38
Restricted share units granted, weighted average exercise price	27.79
Restricted share units vested, weighted average exercise price	10.18
Restricted share units forfeited, weighted average exercise price	$ 18.98
2016 Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares authorized to issue	6,500,000
Stock options outstanding	2,767,703	2,556,180
2006 Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares authorized to issue	7,000,000
Stock options outstanding	263,657	450,531
Equity Incentive Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares authorized to issue	2,468,461
Stock options outstanding	231,454	398,551
Minimum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period of options granted	1 year
Vesting % of performance based restricted stock units	0.00%
Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period of options granted	4 years
Vesting % of performance based restricted stock units	200.00%
Stock options [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	$ 1,878,000	$ 1,273,000	$ 1,388,000
Unvested awards - to result in compensation expense	$ 4,300,000
Weighted average number of years to vesting	2 years 9 months 3 days
Restricted Stock Units (RSUs) [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	$ 10,406,000	$ 5,685,000	$ 4,573,000
Unvested awards - to result in compensation expense	$ 15,200,000
Weighted average number of years to vesting	1 year 8 months 23 days
Restricted Stock Units (RSUs) [Member] \| 2006 Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares authorized to issue	3,500,000

Deferred Compensation Plan Deferred Compensation Plan (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Deferred Compensation Plan [Abstract]
Maximum Deferral Percentage of Base Compensation under Deferred Compensation Plan	50.00%
Maximum Deferral Percentage of Bonus Compensation under Deferred Compensation Plan	100.00%
Contributions by Employer under Deferred Compensation Plan	$ 160	$ 150	$ 50
Employer match under Deferred Compensation Plan, Percent	50.00%
Employee Contribution Maximum Percent of Compensation under Deferred Compensation Plan	6.00%
Discretionary Contribution under Deferred Compensation Plan	$ 0
Deferred compensation	$ 9,437	$ 9,711

401(k) Plan 401(k) Plan (Details) - USD ($) $ in Millions	12 Months Ended
401(k) Plan 401(k) Plan (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
401(k) Plan [Abstract]
Maximum contribution % of eligible pre-tax compensation allowed to participants of defined contribution plan	50.00%
Employer match	$ 5.5	$ 6.6	$ 6.3
Employer match, percent	50.00%
Employer match, percent of employees' compensation	6.00%
Percent of company stock purchased	8.20%

Stock Repurchase Plan Stock Repurchase Plan (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Stock Repurchase Plan [Abstract]
Authorized common stock repurchase amount	$ 75,000
Common stock repurchased, shares	1,463,377
Treasury Stock, Value, Acquired, Cost Method	$ 26,586	$ 1,292
Stock Repurchased During Period, Value	10,000
Stock Repurchase Program, Remaining Authorized Repurchase Amount	$ 58,400

Segment Information Segment Information (Details) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2020 USD ($) store	Sep. 30, 2020 USD ($)	Jun. 30, 2020 USD ($)	Mar. 31, 2020 USD ($)	Dec. 31, 2019 USD ($)	Sep. 30, 2019 USD ($)	Jun. 30, 2019 USD ($)	Mar. 31, 2019 USD ($)	Dec. 31, 2020 USD ($) store	Dec. 31, 2019 USD ($)	Dec. 31, 2018 USD ($)
Segment Reporting Information [Line Items]
Total revenues	$ 716,491	$ 712,015	$ 683,746	$ 701,939	$ 667,862	$ 649,371	$ 655,925	$ 696,694	$ 2,814,191	$ 2,669,852	$ 2,660,465
Gross profit	427,414	425,028	399,532	420,178	411,138	399,996	408,071	424,866	1,672,152	1,644,071	1,688,168
Operating profit	54,639	$ 80,187	$ 53,635	$ 48,875	67,834	$ 38,847	$ 129,829	$ 17,349	237,336	253,859	56,137
Depreciation, amortization and write-down of intangibles									56,658	61,104	68,946
Capital expenditures									34,545	21,157	27,962
On rent	762,886				697,270				762,886	697,270	683,808
Held for rent	146,266				138,418				146,266	138,418	123,662
Assets	$ 1,750,980				1,582,798				1,750,980	1,582,798	1,396,917
Rentals and fees									$ 2,263,091	2,224,402	2,244,860
Number of retail installment sales stores \| store	44								44
Royalty Fee Percentage Minimum									2.00%
Royalty Fee Percentage Maximum									6.00%
Furniture and accessories [Member]
Segment Reporting Information [Line Items]
Rentals and fees									$ 1,028,876	982,644	962,241
Appliances [Member]
Segment Reporting Information [Line Items]
Rentals and fees									358,931	346,668	344,548
Consumer electronics [Member]
Segment Reporting Information [Line Items]
Rentals and fees									322,261	358,619	410,184
Computers [Member]
Segment Reporting Information [Line Items]
Rentals and fees									119,015	103,171	120,756
Smartphones [Member]
Segment Reporting Information [Line Items]
Rentals and fees									59,205	62,948	62,592
Other products and services [Member]
Segment Reporting Information [Line Items]
Rentals and fees									374,803	370,352	344,539
Rent-A-Center Business [Member]
Segment Reporting Information [Line Items]
Total revenues									1,852,641	1,800,486	1,855,712
Gross profit									1,294,695	1,255,153	1,299,809
Operating profit									333,379	235,964	147,787
Depreciation, amortization and write-down of intangibles									19,912	20,822	25,566
Capital expenditures									14,869	10,255	17,173
On rent	$ 444,945				411,482				444,945	411,482	424,829
Held for rent	136,219				131,086				136,219	131,086	117,294
Assets	999,252				953,151				999,252	953,151	714,914
Rentals and fees									1,604,615	1,585,997
Preferred Lease [Member]
Segment Reporting Information [Line Items]
Total revenues									810,151	749,260	722,562
Gross profit									321,110	333,798	339,616
Operating profit									57,847	83,066	93,951
Depreciation, amortization and write-down of intangibles									2,066	1,533	1,677
Capital expenditures									161	141	203
On rent	299,660				268,845				299,660	268,845	242,978
Held for rent	2,228				1,254				2,228	1,254	1,207
Assets	389,650				357,859				389,650	357,859	312,151
Rentals and fees									610,908	587,502
Mexico [Member]
Segment Reporting Information [Line Items]
Total revenues									50,583	53,960	49,613
Gross profit									35,665	37,488	34,364
Operating profit									5,798	5,357	2,605
Depreciation, amortization and write-down of intangibles									413	401	1,006
Capital expenditures									392	172	295
On rent	18,281				16,943				18,281	16,943	16,001
Held for rent	7,819				6,078				7,819	6,078	5,161
Assets	42,278				33,707				42,278	33,707	29,321
Rentals and fees									47,568	50,903
Franchising [Member]
Segment Reporting Information [Line Items]
Total revenues									100,816	66,146	32,578
Gross profit									20,682	17,632	14,379
Operating profit									12,570	7,205	4,385
Depreciation, amortization and write-down of intangibles									40	45	172
Assets	14,729				11,095				14,729	11,095	4,287
Rentals and fees									0	0
Operating Segments [Member]
Segment Reporting Information [Line Items]
Operating profit									409,594	331,592	248,728
Depreciation, amortization and write-down of intangibles									22,431	22,801	28,421
Capital expenditures									15,422	10,568	17,671
Assets	1,445,909				1,355,812				1,445,909	1,355,812	1,060,673
Corporate, Non-Segment [Member]
Segment Reporting Information [Line Items]
Operating profit									(172,258)	(77,733)	(192,591)
Depreciation, amortization and write-down of intangibles									34,227	38,303	40,525
Capital expenditures									19,123	10,589	10,291
Assets	305,071				226,986				305,071	226,986	336,244
United States [Member]
Segment Reporting Information [Line Items]
Total revenues									2,763,608	2,615,892	2,610,432
Assets	1,708,702				1,547,895				1,708,702	1,547,895	1,366,405
Mexico [Member]
Segment Reporting Information [Line Items]
Total revenues									50,583	53,960	49,612
Assets	42,278				33,707				42,278	33,707	29,321
Canada [Member]
Segment Reporting Information [Line Items]
Total revenues									0	0	421
Assets	$ 0				$ 1,196				$ 0	$ 1,196	$ 1,191

Earnings Per Common Share Earnings Per Common Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Net earnings	$ 56,300	$ 64,030	$ 38,493	$ 49,292	$ 40,491	$ 31,277	$ 94,455	$ 7,323	$ 208,115	$ 173,546	$ 8,492
Weighted-average shares outstanding									54,187	54,325	53,471
Effect of dilutive stock awards									1,567	1,630	1,071
Weighted-average dilutive shares									55,754	55,955	54,542
Basic earnings per common share	$ 1.04	$ 1.19	$ 0.72	$ 0.90	$ 0.74	$ 0.57	$ 1.74	$ 0.14	$ 3.84	$ 3.19	$ 0.16
Diluted earnings per common share	$ 1.00	$ 1.15	$ 0.70	$ 0.88	$ 0.72	$ 0.56	$ 1.70	$ 0.13	$ 3.73	$ 3.10	$ 0.16
Restricted share units [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-dilutive securities excluded from diluted earnings per common share									1	0	0
Performance share units [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-dilutive securities excluded from diluted earnings per common share									3	290	200
Stock options [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-dilutive securities excluded from diluted earnings per common share									949	1,109	1,498

Unaudited Quarterly Data Unaudited Quarterly Data (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Unaudited Quarterly Data [Abstract]
Total revenues	$ 716,491	$ 712,015	$ 683,746	$ 701,939	$ 667,862	$ 649,371	$ 655,925	$ 696,694	$ 2,814,191	$ 2,669,852	$ 2,660,465
Gross profit	427,414	425,028	399,532	420,178	411,138	399,996	408,071	424,866	1,672,152	1,644,071	1,688,168
Operating profit	54,639	80,187	53,635	48,875	67,834	38,847	129,829	17,349	237,336	253,859	56,137
Net earnings	$ 56,300	$ 64,030	$ 38,493	$ 49,292	$ 40,491	$ 31,277	$ 94,455	$ 7,323	$ 208,115	$ 173,546	$ 8,492
Basic earnings per common share	$ 1.04	$ 1.19	$ 0.72	$ 0.90	$ 0.74	$ 0.57	$ 1.74	$ 0.14	$ 3.84	$ 3.19	$ 0.16
Diluted earnings per common share	$ 1.00	$ 1.15	$ 0.70	$ 0.88	$ 0.72	$ 0.56	$ 1.70	$ 0.13	$ 3.73	$ 3.10	$ 0.16

- Definition

The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period.

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+ Details

- Definition

The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period.

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+ Details

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References + Details