0000933036-23-000050 | 10-K | XBRL Viewer

Document and Company Information - USD ($)	12 Months Ended
Document and Company Information - USD ($)	Dec. 31, 2022	Feb. 20, 2023	Jun. 30, 2022
Document and Entity Information [Abstract]
Document Type	10-K
Document Annual Report	true
Document Period End Date	Dec. 31, 2022
Current Fiscal Year End Date	--12-31
Entity Registrant Name	Upbound Group, Inc.
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			$ 1,036,495,277
Entity Public Float Shares			53,290,246
Entity Common Stock, Shares Outstanding		55,729,109
Documents Incorporated by Reference	Portions of the definitive proxy statement relating to the 2023 Annual Meeting of Stockholders of Upbound Group, Inc. are incorporated by reference into Part III of this report.
Entity Central Index Key	0000933036
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	FY
Amendment Flag	false

Audit Information	12 Months Ended
Audit Information	Dec. 31, 2022
Auditor Information [Abstract]
Auditor Firm ID	42
Auditor Name	Ernst & Young, LLP
Auditor Location	Dallas, TX

Consolidated Statement of Operations - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Store [Abstract]
Rentals and fees	$ 3,375,453	$ 3,522,453	$ 2,263,091
Merchandise sales	675,288	829,222	378,717
Installment sales	72,328	73,585	68,500
Other	4,975	4,148	3,845
Total store revenues	4,128,044	4,429,408	2,714,153
Franchise [Abstract]
Merchandise sales	91,350	126,856	80,023
Royalty income and fees	25,998	27,187	20,015
Total revenues	4,245,392	4,583,451	2,814,191
Store [Abstract]
Cost of rentals and fees	1,268,809	1,260,434	655,612
Cost of merchandise sold	779,789	935,765	382,182
Cost of installment sales	25,547	25,637	24,111
Total cost of store revenues	2,074,145	2,221,836	1,061,905
Franchise [Abstract]
Franchise cost of merchandise sold	91,715	126,603	80,134
Total cost of revenues	2,165,860	2,348,439	1,142,039
Gross profit	2,079,532	2,235,012	1,672,152
Operating expenses [Abstract]
Labor	634,341	644,763	579,125
Other store expenses	821,821	770,073	609,370
General and administrative expenses	186,470	194,894	153,108
Depreciation, Amortization and Write-down of Intangibles	53,079	54,830	56,658
Other charges	235,283	289,913	36,555
Total operating expenses	1,930,994	1,954,473	1,434,816
Operating profit	148,538	280,539	237,336
Debt refinancing charges	0	15,582	0
Interest expense	87,708	70,874	15,325
Interest income	(641)	(221)	(768)
Earnings before income taxes	61,471	194,304	222,779
Income tax expense	49,114	59,364	14,664
Net earnings	$ 12,357	$ 134,940	$ 208,115
Basic earnings per common share	$ 0.23	$ 2.37	$ 3.84
Diluted earnings per common share	0.21	2.02	3.73
Cash dividends declared per common share	$ 1.36	$ 1.27	$ 1.18

Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Statement of Comprehensive Income [Abstract]
Net earnings	$ 12,357	$ 134,940	$ 208,115
Foreign currency translation adjustments, net of tax of $464, $(259), and $(193) for 2022, 2021, and 2020, respectively	1,745	(975)	(726)
Total other comprehensive income (loss)	1,745	(975)	(726)
Comprehensive income	$ 14,102	$ 133,965	$ 207,389

- Definition

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

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+ Details

Consolidated Statements of Comprehensive Income (Parenthetical) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Statement of Comprehensive Income [Abstract]
Foreign currency translation tax adjustment	$ 464	$ (259)	$ (193)

Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
ASSETS [Abstract]
Cash and cash equivalents	$ 144,141	$ 108,333
Receivables, net of allowance for doubtful accounts of $13,214 and $8,479 in 2022 and 2021, respectively	111,865	126,378
Prepaid expenses and other assets	46,070	63,468
Rental merchandise, net [Abstract]
On rent	989,869	1,173,024
Held for rent	134,959	132,984
Merchandise held for installment sale	6,988	6,405
Property assets, net of accumulated depreciation of $576,675 and $557,453 in 2022 and 2021, respectively	295,371	308,098
Operating lease right-of-use assets	302,311	291,338
Deferred tax asset	82,886	68,391
Goodwill	289,750	289,750
Other intangible assets, net	359,409	425,158
Total assets	2,763,619	2,993,327
LIABILITIES [Abstract]
Accounts payable — trade	155,449	135,666
Accrued liabilities	320,624	362,708
Operating lease liabilities	305,556	296,535
Deferred tax liability	87,986	113,943
Senior debt, net	930,902	1,135,207
Senior notes, net	437,956	435,992
Total liabilities	$ 2,238,473	$ 2,480,051
Common stock - shares authorized	250,000,000	250,000,000
Common stock - shares issued	125,028,169	124,398,373
STOCKHOLDERS' EQUITY [Abstract]
Common stock, $0.01 par value; 250,000,000 shares authorized; 125,028,169 and 124,398,373 shares issued in 2022 and 2021, respectively	$ 1,080	$ 1,065
Additional paid-in capital	1,298,094	1,146,509
Retained earnings	1,077,189	1,143,647
Treasury stock at cost, 69,354,651 and 65,790,667 shares in 2022 and 2021, respectively	1,840,591	1,765,574
Accumulated other comprehensive loss	(10,626)	(12,371)
Total stockholders' equity	525,146	513,276
Total liabilities and stockholders' equity	$ 2,763,619	$ 2,993,327

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Statement of Financial Position [Abstract]
Allowance for doubtful accounts	$ 13,214	$ 8,479
Accumulated depreciation of property assets	$ 576,675	$ 557,453
Common stock - par value	$ 0.01	$ 0.01
Common stock - shares authorized	250,000,000	250,000,000
Common stock - shares issued	125,028,169	124,398,373
Treasury stock - shares at cost	69,354,651	65,790,667

Consolidated Statement of Stockholders' Equity - USD ($) $ in Thousands	Total	Common Stock	Additional Paid-In Capital	Retained Earnings	Treasury Stock	Accumulated Other Comprehensive (Loss) Income
Balance (in shares) at Dec. 31, 2019		111,166,000
Balance excluding shares at Dec. 31, 2019	$ 458,963	$ 1,110	$ 869,617	$ 947,875	$ (1,348,969)	$ (10,670)
Balance excluding shares (Accounting Standards Update 2016-13) at Dec. 31, 2019	(769)			(769)
Net earnings	208,115			208,115
Accumulated Other Comprehensive (Loss) Income	(726)					(726)
Total other comprehensive income (loss)	(726)
Purchase of treasury stock	(26,586)	$ (14)			(26,572)
Exercise of stock options, shares		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)
Balance (in shares) at Dec. 31, 2020		112,181,000
Balance excluding shares at Dec. 31, 2020	592,080	$ 1,105	886,902	1,091,010	(1,375,541)	(11,396)
Net earnings	134,940			134,940
Accumulated Other Comprehensive (Loss) Income	(975)					(975)
Total other comprehensive income (loss)	(975)
Purchase of treasury stock	(390,112)	$ (79)			(390,033)
Exercise of stock options, shares		477,000
Exercise of stock options	12,054	$ 4	12,050
Vesting of restricted share units, shares		960,000
Vesting of restricted share units	0	$ 8	(8)
Tax effect of stock awards vested and options exercised	(20,903)		(20,903)
Stock-based compensation expense	147,554		147,554
Dividends declared	(82,303)			(82,303)
Acima acquisition, shares		10,780,000
Acima acquisition	120,941	$ 27	120,914
Balance (in shares) at Dec. 31, 2021		124,398,000
Balance excluding shares at Dec. 31, 2021	513,276	$ 1,065	1,146,509	1,143,647	(1,765,574)	(12,371)
Net earnings	12,357			12,357
Accumulated Other Comprehensive (Loss) Income	1,745					1,745
Total other comprehensive income (loss)	1,745
Purchase of treasury stock	$ (75,052)	$ (35)			(75,017)
Exercise of stock options, shares	108,701	110,000
Exercise of stock options	$ 1,786	$ 1	1,785
Vesting of restricted share units, shares		520,000
Vesting of restricted share units	0	$ 49	(49)
Tax effect of stock awards vested and options exercised	(9,509)		(9,509)
Stock-based compensation expense	159,358		159,358
Dividends declared	(78,815)			(78,815)
Balance (in shares) at Dec. 31, 2022		125,028,000
Balance excluding shares at Dec. 31, 2022	$ 525,146	$ 1,080	$ 1,298,094	$ 1,077,189	$ (1,840,591)	$ (10,626)

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Cash flows from operating activities [Abstract]
Net earnings	$ 12,357	$ 134,940	$ 208,115
Adjustments to reconcile net earnings to net cash provided by operating activities [Abstract]
Depreciation of rental merchandise	1,229,136	1,216,735	633,695
Bad debt expense	24,658	14,397	14,635
Stock-based compensation expense	159,358	147,554	12,284
Depreciation for property assets	67,981	67,091	55,597
Loss on sale or disposal of property assets	6,080	353	18,215
Amortization of intangibles	65,890	102,742	1,070
Amortization of financing fees	6,409	6,008	1,577
Write-off of debt financing fees	0	9,926	0
Deferred income taxes	(41,209)	48,315	(6,605)
Changes in operating assets and liabilities, net of effects of acquisitions
Rental merchandise	(1,047,687)	(1,273,734)	(736,444)
Receivables	(10,145)	(25,516)	(20,674)
Prepaid expenses and other assets	17,398	(12,766)	(3,963)
Operating lease right-of-use assets and lease liabilities	(1,952)	2,712	(1,543)
Accounts payable — trade	19,783	(66,419)	17,943
Accrued liabilities	(39,597)	19,960	42,600
Net cash provided by operating activities	468,460	392,298	236,502
Cash flows from investing activities
Purchase of property assets	(61,387)	(62,450)	(34,545)
Proceeds from sale of assets	52	4	14,477
Hurricane insurance recovery proceeds	0	0	158
Acquisitions of businesses	(995)	(1,273,528)	(700)
Net cash used in investing activities	(62,330)	(1,335,974)	(20,610)
Cash flows from financing activities
Share repurchases	(75,052)	(390,112)	(26,572)
Exercise of stock options	1,786	12,054	10,280
Shares withheld for payment of employee tax withholdings	(9,509)	(20,903)	(5,270)
Debt issuance costs	0	(47,622)	0
Proceeds from debt	90,000	1,780,000	198,000
Repayments of debt	(298,750)	(369,063)	(240,000)
Dividends paid	(79,188)	(71,505)	(63,119)
Net cash (used in) provided by financing activities	(370,713)	892,849	(126,681)
Effect of exchange rate changes on cash	391	(289)	(256)
Net increase (decrease) in cash and cash equivalents	35,808	(51,116)	88,955
Cash and cash equivalents at beginning of year	108,333	159,449	70,494
Cash and cash equivalents at end of year	144,141	108,333	159,449
Supplemental cash flow information [Abstract]
Interest	71,195	51,071	14,222
Income taxes (excludes $725, $1,571, and $32,318 of income taxes refunded in 2022, 2021, and 2020, respectively)	72,307	19,340	51,569
Income taxes refunded	$ 725	$ 1,571	$ 32,318

Nature of Operations and Summary of Accounting Policies (Notes)	12 Months Ended
	Dec. 31, 2022
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 In February 2023, we changed our corporate name from Rent-A-Center, Inc. to Upbound Group, Inc. The financial statements included herein include the accounts of Upbound Group, Inc., and its direct and indirect subsidiaries. All intercompany accounts and transactions have been eliminated. Unless the context indicates otherwise, references to “Upbound Group, Inc.” refer only to Upbound Group, Inc., the parent, and references to the “Company,” “we,” “us” and “our” refer to the consolidated business operations of Upbound Group, Inc. and any or all of its direct and indirect subsidiaries. We report four operating segments: Rent-A-Center Business, Acima (formerly 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, 2022, we operated 1,851 company-owned stores nationwide and in Puerto Rico, including 48 retail installment sales stores. Our Acima segment, which operates in the United States and Puerto Rico, which includes the operations of Acima Holdings (as defined in Note B below) acquired in February 2021 and our previous Preferred Lease virtual and staffed locations, generally offers the lease-to-own transaction to consumers who do not qualify for financing from the traditional retailer through staffed or unstaffed kiosks located within such retailer’s locations, or other virtual options. Virtual locations 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. 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, 2022, we operated 126 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, 2022, Franchising had 447 franchised stores operating in 31 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 in Rent-A-Center Business, staffed Acima locations and Mexico stores is depreciated 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 of rental 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. Lease merchandise in Acima Holdings is depreciated over the lease term using a straight-line depreciation method. Depreciation under the straight-line method is recognized each period over the term of the lease-to-own contract irrespective of receipt of revenue payments from the customer. In addition, we depreciate merchandise 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 held for rent. Depreciation of merchandise in our virtual business is recognized using a straight-line method over the term of the lease contract. 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 120th day in our Acima virtual business and 150th day in our Acima staffed locations. Minor repairs made to rental merchandise are expensed at the time of the repair. In addition, we maintain a reserve for these expected losses, which estimates the merchandise losses incurred but not yet identified by management as of the end of the accounting period based on a combination of historical write-offs and expected future losses. As of December 31, 2022 and 2021, the reserve for merchandise losses was $93.6 million and $98.2 million, respectively. Expenses related to merchandise losses, damaged merchandise, or merchandise repairs are recorded to other store expenses in our Consolidated Statement of Operations and were $375.2 million, $331.9 million, and $205.2 million for the years ended December 31, 2022, 2021, and 2020, respectively. 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 Rental merchandise is leased to customers pursuant to lease-to-own agreements which provide for weekly, bi-weekly, semi-monthly or monthly terms with non-refundable lease payments. Generally, the customer has the right to acquire title of the merchandise either through a purchase option or through payment of all required lease terms. Rental revenue and fees are recognized over the lease 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 lease term. Revenue is accrued for uncollected amounts due based on historical collection experience. However, the total amount of the lease-to-own agreement is not accrued because the customer can elect not to renew the lease-to-own agreement at any time and we cannot enforce collection for non-payment of future lease payments. 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. Franchise 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 lease-to-own customers for renewal and uncollected rental payments, adjusted for the probability of collection based on our assessment of historical collection rates; amounts owed from our franchisees for inventory purchases, earned royalties and other obligations; 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) on the straight-line method. Leasehold improvements are amortized over the useful life of the asset or the initial term of the applicable leases on 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 for each reporting unit. 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. 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, 2022, the amount of goodwill attributable to the Rent-A-Center Business and Acima segments was approximately $1.5 million and $288.3 million, respectively. We currently do not have goodwill balances attributable to our Mexico or Franchising segments. Acquired intangible assets are recorded at their estimated fair value as of the date of acquisition and generally include customer relationships, merchant relationships, non-compete agreements and trade names. Customer relationships are generally amortized over a 21-month period, excluding Relationships with Existing Lessees recently acquired from Acima Holdings which are being amortized over 12 months. Non-compete Agreements are amortized over the contractual life of the agreements, Merchant Relationships are amortized over a 7 to 15 year period, and Trade Names and other intangible assets are amortized over the estimated 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 unless such pattern cannot be reliably determined, in which case we amortize using a straight-line amortization 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 Income (Loss) Other (loss) comprehensive 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 $53.6 million, $73.9 million, and $50.9 million, for the years ended December 31, 2022, 2021, and 2020, respectively. Advertising expense is net of vendor allowances of $20.0 million, $21.6 million, and $24.8 million for the years ended December 31, 2022, 2021, and 2020, 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. 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. There were no reclassifications of reported amounts for prior periods included in the financial statements of our Annual Report on Form 10-K for the year ended December 31, 2022. 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 from recent macro-economic trends, including related to the COVID-19 pandemic, and consumer spending behavior, 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 From time to time, new accounting pronouncements are issued by the FASB or other standards setting bodies that we adopt as of the specified effective date. As of December 31, 2022, we believe the impact of any recently issued standards that are not yet effective are either not applicable to us at this time, or will not have a material impact on our consolidated financial statements upon adoption.

Acquisitions and Divestitures (Notes)

12 Months Ended

Dec. 31, 2022

Business Combinations [Abstract]

Acquisitions and Divestitures

Acima Acquisition

On February 17, 2021, we completed the acquisition of Acima Holdings, LLC (“Acima Holdings”). Acima Holdings is a leading platform offering customers virtual lease-to-own solutions at the point-of-sale via web and mobile technology.

In accordance with the agreement and plan of merger entered into in connections with the transaction (the “Merger Agreement”), we issued to the former owners of Acima Holdings an aggregate of 10,779,923 shares of our common stock (the “Aggregate Stock Consideration”) and paid to them aggregate cash consideration of $1.3 billion (the “Aggregate Cash Consideration”). In accordance with the terms of the Merger Agreement, the portion of the Aggregate Stock Consideration issued to employee former owners of Acima Holdings, is subject to restricted stock agreements providing vesting conditions over a 36-month period that began upon closing of the transaction. The portion of the Aggregate Stock Consideration issued to nonemployee former owners of Acima Holdings were previously subject to the terms of an 18-month lockup agreement, which expired on August 17, 2022. Following the expiration of the lock-up agreement, all shares of our common stock received by non-employee former owners in the transaction have now become transferable. We entered into a Registration Rights Agreement at the closing of the transaction 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 transaction.

The aggregate purchase price calculated in accordance with accounting standards under U.S. GAAP was approximately $1.4 billion, including the Aggregate Cash Consideration, and the 2,683,328 shares of the Aggregate Stock Consideration issued to non-employee former owners of Acima Holdings, valued at $51.14 per share, as of the closing date and discounted for lack of marketability on account of the transfer restrictions described above. The Aggregate Cash Consideration for the acquisition was financed with a combination of cash on hand, borrowings under our ABL Credit Facility and proceeds from issuances under our Term Loan Facility, as defined in Note K, in addition to proceeds from the issuance of new unsecured senior notes. See Note K and Note L for additional information.

The aggregate purchase price excludes the remaining 8,096,595 shares of the Aggregate Stock Consideration issued to employee former owners of Acima Holdings. Such shares were valued at $414.1 million, based on the per share price of $51.14 as of the date of closing. These shares are instead being recognized as stock-based compensation expense subject to ASC Topic 718, “Stock-based Compensation”, over the required vesting period, and recorded to Other charges in our Consolidated Statements of Operations.

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


(in thousands)	February 17, 2021
Aggregate cash consideration	$	1,273,263
Aggregate stock consideration, subject to lockup agreements	120,929
Total Purchase price	$	1,394,192
ASSETS ACQUIRED
Receivables, net(1)	$	25,255
Prepaid expenses and other assets	700
Rental merchandise
On rent	340,575
Property assets	171,455
Operating lease right-of-use assets	9,136
Deferred income taxes	28,559
Goodwill	219,530
Other intangible assets	520,000
Total assets acquired	$	1,315,210
LIABILITIES ASSUMED
Accounts payable - trade	16,023
Accrued liabilities	11,716
Operating lease liabilities	9,689
Deferred income taxes	(116,410)
Total liabilities assumed	(78,982)
Total equity value	$	1,394,192

(1) Includes gross contractual receivables of $61.6 million related to merchandise lease contracts, of which $34.7 million were estimated to be uncollectible.

Carrying value for assets and liabilities assumed as part of the acquisition, including receivables, prepaid expenses and other assets, accounts payable and accrued liabilities were recorded as fair value, as of the date of acquisition, due to the short term nature of these balances. Operating lease right-of-use assets and liabilities were recorded as the discounted value of future obligations in accordance with ASC Topic 842, “Leases”. The fair value measurements for acquired intangible assets and developed technology were primarily based on significant unobservable inputs (Level 3) developed using company-specific information. Certain fair values were determined based on an independent valuation of the net assets acquired, including

$340.6 million of rental merchandise and $520 million of identifiable intangible assets with an estimated weighted average useful life of 8 years, as follows:


Asset Class	Estimated Fair Value (in thousands)		Estimated Remaining Useful Life (in years)
Merchant relationships	$	380,000	10
Relationship with existing lessees	60,000		1
Trade name	40,000		7
Non-compete agreements	40,000		3

Developed technology, included in Property assets, net, in line with our accounting policies, was also acquired with a value of $170.0 million and an estimated remaining useful life of 10 years. The fair value for these intangible and property assets were estimated using common industry valuation methods for similar asset types, based primarily on cost inputs and projected cash flows.

In addition, we recorded goodwill of $219.5 million in our Acima operating segment, which consists of the excess of the net purchase price over the fair value of the net assets acquired. Goodwill represents expected cost and revenue synergies and other benefits expected to result within our retail partner business from the acquisition of Acima Holdings. The total value of goodwill for tax purposes differs from recorded goodwill as a result of the Aggregate Stock Consideration subject to restricted stock agreements, differences in value assigned to other purchased assets, and acquisition-related expenses. Tax goodwill will be amortized over 15 years.

Acima Holdings' results of operations are reflected in our Consolidated Statements of Operations from the date of acquisition.

Subsequent to the date of acquisition, we recorded certain adjustments to the purchase price allocation within the measurement period. Total cumulative measurement period adjustments resulted in a decrease to goodwill of approximately $(22.2) million. The purchase price allocation for the Acima Holdings acquisition was complete as of December 31, 2021.

In connection with this acquisition, we incurred approximately $23.9 million in acquisition-related expenses including expenses related to legal, professional, and banking transaction fees, which are treated as an addition to goodwill for tax purposes. These costs were included in Other charges in our Consolidated Statements of Operations.

The following unaudited pro forma combined results of operations present our financial results as if the acquisition of Acima had been completed on January 1, 2020. These unaudited pro forma results may not necessarily reflect the actual results of operations that would have been achieved, nor are they necessarily indicative of future results of operations. The unaudited pro forma information reflects the step-up and step-down depreciation and amortization adjustments for the fair value of the assets acquired, adjustments to stock compensation expense as a result of Aggregate Stock Consideration subject to restricted stock awards, the adjustments in interest expense due to the elimination of historical debt and placement of the new debt, and the related adjustments to the income tax provision. In addition, the pro forma net income has been adjusted to include transaction expenses and other non-recurring costs as of January 1, 2020. The unaudited pro forma financial information is as follows:


	Year Ended December 31,
(in thousands)		2021		2020
		(unaudited)		(unaudited)
Pro Forma total revenues		$	4,778,055	$	4,071,990
Pro Forma net earnings(1)		178,103		66,352

(1) Total pro forma adjustments to net earnings represented an increase of $16.0 million and a decrease of $356.8 million for the twelve months ended December 31, 2021 and 2020, respectively.

The amounts of revenue and earnings of Acima Holdings included in our Consolidated Statements of Operations as of December 31, 2021 from the acquisition date of February 17th 2021 are as follows:


(in thousands)	February 17, 2021 - December 31, 2021
	audited
Total revenues	$	1,495,746
Net earnings(1)	119,183

(1) Net Earnings includes amortization of intangible assets acquired upon closing of the Acima Holdings acquisition.

Other Acquisitions

The following table provides information concerning other store acquisitions completed during the years ended December 31, 2022, 2021 and 2020.


	Year Ended December 31,
(Dollar amounts in thousands)	2022		2021		2020
Number of stores acquired remaining open	1		1		—
Number of stores acquired that were merged with existing stores	4		—		2
Number of transactions	5		1		2
Total purchase price	$	995	$	278	$	700
Amounts allocated to:
Goodwill	$	—	$	—	$	—

Customer relationships	141		30		177
Rental merchandise	854		248		523

Operating results of the acquired stores and accounts have been included in the financial statements since their date of acquisition.

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 $16.0 million, including approximately $1.0 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 in our Consolidated Statement of Operations in the twelve months ended December 31, 2020.

Revenues (Notes)

12 Months Ended

Dec. 31, 2022

Revenues [Abstract]

Revenues [Text Block]

Revenues

The following tables disaggregates our revenue:


	Twelve Months Ended December 31, 2022
	Rent-A-Center Business		Acima(1)		Mexico		Franchising		Consolidated
(In thousands)
Store
Rentals and fees	$	1,724,541	$	1,589,708	$	61,204	$	—	$	3,375,453
Merchandise sales	151,745		520,077		3,466		—		675,288
Installment sales	72,328		—		—		—		72,328
Other	1,250		535		210		2,980		4,975
Total store revenues	1,949,864		2,110,320		64,880		2,980		4,128,044
Franchise
Merchandise sales	—		—		—		91,350		91,350
Royalty income and fees	—		—		—		25,998		25,998
Total revenues	$	1,949,864	$	2,110,320	$	64,880	$	120,328	$	4,245,392

(1) Represents revenues for our Acima segment, as defined in Note B.


	Twelve Months Ended December 31, 2021
	Rent-A-Center Business		Acima(1)		Mexico		Franchising		Consolidated
(In thousands)
Store
Rentals and fees	$	1,762,847	$	1,701,532	$	58,074	$	—	3,522,453
Merchandise sales	199,781		626,166		3,275		—		829,222
Installment sales	73,585		—		—		—		73,585
Other	1,636		391		54		2,067		4,148
Total store revenues	2,037,849		2,328,089		61,403		2,067		4,429,408
Franchise
Merchandise sales	—		—		—		126,856		126,856
Royalty income and fees	—		—		—		27,187		27,187
Total revenues	$	2,037,849	$	2,328,089	$	61,403	$	156,110	$	4,583,451

(1) Represents revenues for our Acima segment, as defined in Note B.


	Twelve Months Ended December 31, 2020
	Rent-A-Center Business		Acima(1)		Mexico		Franchising		Consolidated
(In thousands)
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

(1) Represents revenues for our Acima segment, as defined in Note B.

Lease Purchase Agreements

Rent-A-Center Business, Acima, and Mexico

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

Lease payments received at our Rent-A-Center Business stores, certain Acima staffed locations formerly operating under the Preferred Lease brand, and Mexico stores must be prepaid in advance of the next lease term. Under the Acima Holdings business model, revenues may be earned prior to the lease payment due date, in which case revenue is accrued prior to receipt of the lease payment, net of estimated returns and uncollectible renewal payments. Under both models, rental revenue is recognized over the lease term. See Note D for additional information regarding accrued lease 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 lease term. At December 31, 2022 and 2021, we had $54.9 million and $51.7 million, respectively, in deferred revenue included in accrued liabilities related to our lease-to-own 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 in our Rent-A-Center Business, former Preferred Lease locations, and Mexico stores is depreciated using the income forecasting method and recognized in cost of rentals and fees in our Consolidated Statement of Operations over the lease term. Lease

merchandise in Acima Holdings is depreciated over the lease term using a straight-line depreciation method. Under the income forecasting method, the consumption of lease merchandise occurs during periods of rental and depreciation directly coincides with the receipt of rental revenue over the lease-to-own contract period. Depreciation under the straight-line method is recognized each period over the term of the lease-to-own contract irrespective of receipt of revenue payments from the customer.

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, Acima, and Mexico

Merchandise Sales. Merchandise sales include payments received for the exercise of the early purchase options offered through our lease-to-own 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, 2022 and 2021, we had $2.0 million and $2.6 million, respectively, in deferred revenue included in accrued liabilities related to extended service plans.

Other. Other revenue consists 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, 2022 and 2021, we had $3.4 million and $4.1 million, respectively, in deferred revenue included in accrued liabilities related to franchise fees.

- Definition

The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
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-Publisher FASB
-Name Accounting Standards Codification
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
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Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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+ Details

Receivables and Allowance for Doubtful Accounts (Notes)

12 Months Ended

Dec. 31, 2022

Receivables and Allowance for Doubtful Accounts [Abstract]

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 receivables 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, 2022, 2021 and 2020 was $12.1 million, $12.2 million, and $11.5 million, respectively.

Trade and notes receivables consist of amounts due from our lease-to-own customers for renewal and uncollected rental payments, adjusted for the probability of collection based on our assessment of historical collection rates and length of time the receivable is past due; amounts owed from our franchisees for inventory purchases, earned royalties and other obligations; and

other corporate related receivables. Credit is extended to franchisees based on an evaluation of each 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)	2022		2021
Installment sales receivable	$	69,550	$	66,276
Trade and notes receivables(1)	55,529		68,581

Total receivables	125,079		134,857
Less allowance for doubtful accounts(2)	(13,214)		(8,479)
Total receivables, net of allowance for doubtful accounts	$	111,865	$	126,378

(1) Trade and notes receivables includes accrued revenue, adjusted for the probability of collection, related to our lease-to-own agreements of $28.7 million and $44.8 million at December 31, 2022 and 2021.

(2) Lease receivables are accrued on a net basis, adjusted for the probability of collection based on our assessment of historical collection rates, as described above. Therefore, we do not maintain a separate allowance for doubtful accounts related to our lease receivables.

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 notes 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 Franchising trade and notes receivables was $1.2 million and $0.9 million, and the allowance for doubtful accounts related to installment sales receivables was $12.0 million and $7.6 million at December 31, 2022 and 2021, respectively.

Changes in our allowance for doubtful accounts are as follows:


	Year Ended December 31,
(In thousands)	2022		2021		2020
Beginning allowance for doubtful accounts	$	8,479	$	8,047	$	5,601
Estimated uncollectible payments and returns(1)	24,658		14,397		14,636
Accounts written off, net of recoveries	(19,923)		(13,965)		(12,190)
Ending allowance for doubtful accounts	$	13,214	$	8,479	$	8,047

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

Rental Merchandise (Notes)

12 Months Ended

Dec. 31, 2022

Rental Merchandise [Abstract]

Rental Merchandise [Text Block]

Rental Merchandise


	December 31,
(In thousands)	2022		2021
On rent
Cost	$	1,629,394	$	1,894,247
Less accumulated depreciation	(639,525)		(721,223)
Net book value, on rent	$	989,869	$	1,173,024
Held for rent
Cost	$	159,399	$	155,832
Less accumulated depreciation	(24,440)		(22,848)
Net book value, held for rent	$	134,959	$	132,984

Property Assets (Notes)

12 Months Ended

Dec. 31, 2022

Property Assets [Abstract]

Property Assets [Text Block]

Property Assets


	December 31,
(In thousands)	2022		2021
Software	$	479,714	$	468,011
Building and leasehold improvements	207,613		199,280
Furniture and equipment	158,843		172,418
Transportation equipment	752		549
Construction in progress	25,124		25,293
Total property assets	872,046		865,551
Less accumulated depreciation	(576,675)		(557,453)
Total property assets, net of accumulated depreciation	$	295,371	$	308,098

We had $19.8 million and $21.6 million of capitalized software costs included in construction in progress at December 31, 2022 and 2021, respectively. For the years ended December 31, 2022, 2021, and 2020, we placed in service internally developed software of approximately $20.5 million, $12.3 million, and $9.5 million, respectively, and acquired software assets with an estimated fair value of $170.0 million for the year ended December 31, 2021.

Leases (Notes)

12 Months Ended

Dec. 31, 2022

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 2032. 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 years to five years at rental rates adjusted according to agreed upon 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.

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 Consolidated Balance Sheets.

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 Consolidated Balance Sheets. We also lease vehicles for all of our Mexico stores which have terms expiring at various times through 2026 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.

In our calculation of operating right-of-use assets and operating lease liabilities, we have elected not to separate the lease and non-lease components. Furthermore, 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 Consolidated Statements of Operations.

Total operating lease costs by expense type:


	Twelve Months Ended
(in thousands)	December 31, 2022		December 31, 2021		December 31, 2020
Operating lease cost included in other store expenses(1)(2)	$	124,376	$	129,217	$	140,186
Operating lease cost included in other charges	303		302		1,236
Sublease receipts	(7,128)		(11,806)		(9,727)
Total operating lease charges	$	117,551	$	117,713	$	131,695

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

(2) Excludes variable lease costs of $36.2 million and $33.7 million for the twelve months ended December 31, 2022 and 2021, respectively.

Supplemental cash flow information related to leases:


	Twelve Months Ended
(in thousands)	December 31, 2022		December 31, 2021		December 31, 2020
Cash paid for amounts included in measurement of operating lease liabilities	$	104,281	$	107,588	$	113,243
Cash paid for short-term operating leases not included in operating lease liabilities	18,639		17,266		22,339
Right-of-use assets obtained in exchange for new operating lease liabilities	99,952		100,779		104,771

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


(in thousands)	December 31, 2022		December 31, 2021		December 31, 2020
Weighted-average discount rate(1)	7.0	%	6.0	%	6.8	%
Weighted-average remaining lease term (in years)	4		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, 2022:


(In thousands)	Operating Leases
2023	$	104,613
2024	88,771
2025	70,454
2026	46,036
2027	25,381
Thereafter	16,482
Total undiscounted operating lease liabilities	351,737
Less: Interest	(46,181)
Total present value of operating lease liabilities	$	305,556

Goodwill and Other Intangible Assets (Notes)

12 Months Ended

Dec. 31, 2022

Goodwill and Intangible Assets Disclosure [Abstract]

Intangible Assets and Acquisitions [Text Block]

Goodwill and Other Intangible Assets

Goodwill

In the fourth quarter of 2022, we completed a quantitative analysis for impairment of goodwill as of October 1, 2022, concluding that the carrying value of the net assets of our reporting units did not exceed their respective fair values and therefore no impairment of goodwill existed as of December 31, 2022. The fair value measurements of our reporting units derived within our quantitative analysis were primarily based on significant unobservable inputs (Level 3) developed using company-specific information.

At December 31, 2022 and 2021, the amount of goodwill attributable to the Rent-A-Center Business segment was approximately $1.5 million. At December 31, 2022 and 2021, the amount of goodwill attributable to the Acima segment was $288.3 million.

A summary of the changes in recorded goodwill follows:


	Year Ended December 31,
(In thousands)	2022		2021
Beginning goodwill balance	$	289,750	$	70,217
Additions from acquisitions	—		241,774

Post purchase price allocation adjustments	—		(22,241)
Ending goodwill balance	$	289,750	$	289,750

Other Intangible Assets

Amortizable intangible assets consist of the following:


		December 31, 2022				December 31, 2021
(Dollar amounts in thousands)	Avg. Life (years)	Gross Carrying Amount		Accumulated Amortization		Gross Carrying Amount		Accumulated Amortization
Customer relationships(1)	2	$	140,180	$	140,080	$	140,039	$	132,127
Merchant relationships	10	389,760		74,850		389,760		35,960
Trade Name	7	40,000		10,680		40,000		4,966
Non-compete agreements	3	46,719		31,640		46,719		18,307
Total other intangible assets		$	616,659	$	257,250	$	616,518	$	191,360

(1) Includes acquired Relationships with Existing Lessees from Acima Holdings with a remaining useful life of 1 year from the date of acquisition, February 17, 2021, completely amortized as of December 31, 2022.

Aggregate amortization expense (in thousands):


Year Ended December 31, 2022	$	65,890
Year Ended December 31, 2021	$	102,742
Year Ended December 31, 2020	$	1,070

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
2023	$	58,017
2024	46,372
2025	44,604
2026	44,604
2027	44,604
Thereafter	121,208
Total amortization expense	$	359,409

Accrued Liabilities (Notes)

12 Months Ended

Dec. 31, 2022

Accrued Liabilities [Abstract]

Accrued liabilities [Text Block]

Accrued Liabilities


	December 31,
(In thousands)	2022		2021
Accrued insurance costs	$	87,298	$	89,621
Deferred revenue	73,953		71,376
Taxes other than income	32,519		49,708
Accrued compensation	22,880		46,750
Accrued dividends	27,428		27,801
Accrued interest payable	24,309		11,993
Income taxes payable	8,034		—
Deferred compensation	8,025		10,349

Accrued legal settlement	7,650		22,500
Accrued other	28,528		32,610
Total Accrued liabilities	$	320,624	$	362,708

Income Taxes (Notes)

12 Months Ended

Dec. 31, 2022

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)	2022		2021		2020
Domestic	$	43,977	$	176,042	$	212,859
Foreign	17,494		18,262		9,920
Earnings before income taxes	$	61,471	$	194,304	$	222,779

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


	Year Ended December 31,
	2022		2021		2020
Tax at statutory rate	21.0	%	21.0	%	21.0	%

Stock compensation	53.4	%	11.6	%	—	%
State income taxes	13.4	%	7.4	%	2.8	%
Effect of foreign operations	6.6	%	2.0	%	(0.3)	%
Effect of current and prior year credits	(13.2)	%	(2.4)	%	(0.8)	%
Change in unrecognized tax benefits	0.1	%	(2.8)	%	0.3	%
Other permanent differences	0.9	%	0.3	%	(0.7)	%
Prior year return to provision adjustments	1.7	%	(0.2)	%	1.1	%

Benefit of CARES Act	—	%	—	%	(7.5)	%
Valuation allowance	(3.0)	%	(7.1)	%	(9.3)	%
Other, net	(1.0)	%	0.8	%	—	%
Effective income tax rate	79.9	%	30.6	%	6.6	%

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


	Year Ended December 31,
(In thousands)	2022		2021		2020
Current expense (benefit)
Federal	$	62,878	$	(7,398)	$	14,354
State	21,473		15,106		4,735
Foreign	4,570		3,690		1,608
Total current	88,921		11,398		20,697
Deferred (benefit) expense
Federal	(25,923)		56,716		12,576
State	(13,321)		(1,205)		(2,956)
Foreign	(563)		(7,545)		(15,653)
Total deferred	(39,807)		47,966		(6,033)
Total income tax expense	$	49,114	$	59,364	$	14,664

Deferred tax assets (liabilities) consist of the following:


	December 31,
(In thousands)	2022		2021
Deferred tax assets

Net operating loss carryforwards	$	27,059	$	35,834

Accrued liabilities	55,527		48,659
Intangible assets	155,238		165,135

Lease obligations	81,412		73,819
Other assets including credits	8,804		12,157
Foreign tax credit carryforwards	2,991		7,696
Total deferred tax assets	331,031		343,300
Valuation allowance	(3,158)		(7,688)
Deferred tax assets, net	327,873		335,612
Deferred tax liabilities
Rental merchandise	(236,381)		(288,504)
Property assets	(16,415)		(20,094)
Lease assets	(79,725)		(72,458)
Other liabilities	(452)		(108)
Total deferred tax liabilities	(332,973)		(381,164)
Net deferred taxes	$	(5,100)	$	(45,552)

At December 31, 2022, we had net operating loss carryforwards of approximately $194 million for state, none for federal and $58 million for foreign jurisdictions. State net operating losses were partially offset by a valuation allowance. We also had federal, state and foreign tax credit carryforwards of approximately $8.3 million of which a portion has been offset by a valuation allowance. The net operating losses and credits will expire in various years between 2023 and 2041.

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 2012 through 2020. 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, our management considers new evidence, both positive and negative, that could impact management’s view with regard to future realization of deferred tax assets. After review of the positive evidence generated during the year, we have determined no valuation allowance is required against Mexico net operating losses. A valuation allowance is still required related to certain tax credits and certain state net operating losses.

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


	Year Ended December 31,
(In thousands)	2022		2021		2020
Beginning unrecognized tax benefit balance	$	6,536	$	22,184	$	24,208
Additions (reductions) based on tax positions related to current year	(474)		461		1,204
Additions for tax positions of prior years	21		4,119		45
Reductions for tax positions of prior years	(983)		(3,006)		(2,086)
Settlements	—		(17,222)		(1,187)
Ending unrecognized tax benefit balance	$	5,100	$	6,536	$	22,184

Included in the balance of unrecognized tax benefits at December 31, 2022, is $1.4 million, net of federal benefit, which, if ultimately recognized, will affect our annual effective tax rate.

During the year ended December 31, 2022, we recorded $0.3 million of interest income primarily related to the reversal of the accrual of interest for matters settled during the year in our favor, partially offset by interest expense of $0.3 million for remaining uncertain tax positions, both of which are excluded from the reconciliation of unrecognized tax benefits presented above.

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, 2022. 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.

- Definition

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 21
-URI https://asc.fasb.org/extlink&oid=121826272&loc=d3e32857-109319

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+ Details

Senior Debt (Notes)

12 Months Ended

Dec. 31, 2022

Senior Debt [Abstract]

Debt Disclosure [Text Block]

Senior Debt

On February 17, 2021, we entered into a credit agreement with JPMorgan Chase Bank, N.A., as administrative agent, and lenders party thereto, providing for a seven-year $875 million senior secured term loan facility (the “Term Loan Facility”) and an Asset Based Loan Credit Facility (the “ABL Credit Facility”) providing for a five-year asset-based revolving credit facility with commitments of $550 million and a letter of credit sublimit of $150 million. Commitments under the ABL Credit Facility may be increased, at our option and under certain conditions, by up to an additional $125 million in the aggregate.

Proceeds from the Term Loan Facility were net of original issue discount of $4.4 million upon issuance from the lenders. In addition, in connection with the closing of the Term Loan Facility and the ABL Credit Facility, we incurred approximately $30.2 million in debt issuance costs, including bank financing fees and third party legal and other professional fees, of which $25.3 million was capitalized in accordance with ASC Topic 470, “Debt” and recorded as a reduction of our outstanding senior debt, net in our Consolidated Balance Sheets. Remaining debt issuance costs incurred of $4.9 million were expensed and recorded to Other charges in our Consolidated Statement of Operations.

On September 21, 2021 we entered into a First Amendment to the Term Loan Facility, effective as of September 21, 2021. The amendment effected a repricing of the applicable margin under the Term Loan Facility by reducing the LIBOR floor by 25 basis points from 0.75% to 0.50%, and the applicable margin, with respect to any initial term loans, by 75 basis points from 4.00% to 3.25%.

In connection with the execution of the First Amendment, we incurred approximately $1.5 million in debt issuance costs, including third party arrangement and other professional fees, of which approximately $1.4 million were expensed as debt refinance charges in our Consolidated Statement of Operations, and approximately $0.1 million were capitalized and recorded as a reduction to our outstanding senior debt in our Consolidated Balance Sheets. In addition, in accordance with ASC Topic 470, “Debt”, we recorded approximately $5.4 million in write-offs of unamortized debt issuance costs and original issue discount previously capitalized upon the issuance of the Term Loan Facility on February 17, 2021. The write-offs were recorded as debt refinance charges in our Consolidated Statement of Operations.

On August 10, 2022, we entered into a First Amendment to the ABL Credit Facility, effective as of August 10, 2022. The amendment effected the replacement of LIBOR with Term Secured Overnight Financing Rate (“Term SOFR”) as the benchmark rate of interest thereunder.

As of December 31, 2022, the total remaining balance of unamortized debt issuance costs and original issue discount related to our senior debt reported in the Consolidated Balance Sheets were approximately $16.4 million and $2.4 million, respectively. Remaining unamortized debt issuance costs and original issue discount will be amortized to interest expense over the remaining term of the Term Loan Facility.

The amount outstanding under the Term Loan Facility was $859.7 million at December 31, 2022. We had $90.0 million outstanding borrowings under our ABL Credit Facility at December 31, 2022 and borrowing capacity of $395.6 million.

We also utilize the ABL Credit Facility for the issuance of letters of credit. As of December 31, 2022, we have issued letters of credit in the aggregate outstanding amount of $64.4 million primarily relating to workers compensation insurance claims.

The senior debt facilities as of December 31, 2022 and 2021 are as follows:


		December 31, 2022						December 31, 2021
(In thousands)	Facility Maturity	Maximum Facility		Amount Outstanding		Amount Available		Maximum Facility		Amount Outstanding		Amount Available
Senior Debt:
Term Loan Facility	February 17, 2028	$	875,000	$	859,688	$	—	$	875,000	$	868,438	$	—
ABL Credit Facility(1)	February 17, 2026	550,000		90,000		395,621		550,000		290,000		173,616

Total		$	1,425,000	949,688		$	395,621	$	1,425,000	1,158,438		$	173,616
Unamortized debt issuance costs				(18,786)						(23,231)
Total senior debt, net				$	930,902					$	1,135,207

(1 )Borrowing availability is net of issued letters of credit of approximately $64.4 million and $86.4 million for the years ended December 31, 2022 and 2021, respectively

Term Loan Credit Agreement

The Term Loan Facility, which matures on February 17, 2028, amortizes in equal quarterly installments at a rate of 1.00% per annum of the original principal amount thereof, with the remaining balance due at final maturity. Subject in each case to certain restrictions and conditions, we 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 3.25%, subject to a 0.50% LIBOR floor. The total interest rate on the Term Loan Facility was 7.69% at December 31, 2022. 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 our present and future tangible and intangible personal property, including our subsidiary guarantors, other than the ABL Priority Collateral (as defined below), 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 us and our material wholly-owned domestic restricted subsidiaries that also guarantee the ABL Credit Facility.

The Term Loan Facility contains covenants that are usual and customary for similar facilities and transactions and that, among other things, restrict our ability and our 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 our and our restricted subsidiaries’ assets, to another person; pay dividends or make other distributions on, or repurchase or redeem, our capital stock or certain other debt; and make other restricted payments. The Term Loan Facility 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. 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 us and our significant subsidiaries.

The Term Loan Facility was fully drawn at the closing of the Acima Holdings acquisition to fund a portion of the Aggregate Cash Consideration payable in the transaction, repay certain of our outstanding indebtedness and that of our subsidiaries, repay

all outstanding indebtedness of Acima Holdings and its subsidiaries and pay certain fees and expenses incurred in connection with the transaction. A portion of such proceeds were used to repay $197.5 million outstanding under the prior term loan facility, dated as of August 5, 2019, among us, JPMorgan Chase Bank, N.A., as administrative agent, and the lenders party thereto (the “Prior Term Loan Facility”).

ABL Credit Agreement

The ABL Credit Facility will mature on February 17, 2026. We 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 certain reserves.

The ABL Credit Facility bears interest at a fluctuating rate determined by reference to Term SOFR plus an applicable margin of 1.50% to 2.00%. The total interest rate on the ABL Credit Facility at December 31, 2022 was 5.82%. 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. The commitment fee at December 31, 2022 was 0.375%. We paid $3.0 million of commitment fees during the twelve months ended December 31, 2022.

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 us and certain of our 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 our and our subsidiary guarantors’ accounts, inventory, deposit accounts, securities accounts, cash and cash equivalents, rental agreements, general intangibles (other than equity interests in our 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 ours and the subsidiary guarantors, subject to certain exceptions.

The ABL Credit Facility contains covenants that are usual and customary for similar facilities and transactions and that, among other things, restrict our ability and our 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 our and our restricted subsidiaries’ assets, to another person; pay dividends or make other distributions on, or repurchase or redeem, our capital stock or certain other debt; and make other restricted payments.

The ABL Credit Facility also requires the maintenance of a consolidated fixed charge coverage ratio of at least 1.10 to 1.00 at the end of each fiscal quarter only in the event 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 Credit Facility. The fixed charge coverage ratio as of December 31, 2022 was 1.17 to 1.00.

The documentation governing the ABL Credit 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 us and our significant subsidiaries. As of December 31, 2022, we were in compliance with all requirements and conditions set forth in our ABL Credit Facility governing documents.

The table below shows the scheduled maturity dates of our outstanding debt at December 31, 2022 for each of the years ending December 31:


(in thousands)	Term Loan Facility		ABL Credit Facility		Total
2023	$	8,750	$	—	$	8,750
2024	8,750		—		8,750
2025	8,750		—		8,750
2026	8,750		90,000		98,750
2027	8,750		—		8,750
Thereafter	815,938		—		815,938
Total senior debt	$	859,688	$	90,000	$	949,688

- Definition

The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.

+ References

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+ Details

Senior Notes (Notes)	12 Months Ended
Senior Notes (Notes)	Dec. 31, 2022
Senior Notes [Abstract]
Subsidiary Guarantors Senior Notes [Text Block]	Senior Notes 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 Acima Holdings acquisition. Interest on the Notes is payable in arrears on February 15 and August 15 of each year, beginning on August 15, 2021. In connection with the issuance of the Notes, we incurred approximately $15.7 million in debt issuance costs, including bank financing fees and third party legal and other professional fees, which were capitalized in accordance with ASC Topic 470, “Debt” and recorded as a reduction of our outstanding Notes in our Consolidated Balance Sheets. Debt issuance costs are amortized as interest expense over the term of the Notes. As of December 31, 2022, the total remaining balance of unamortized debt issuance costs related to our senior notes reported in the Consolidated Balance Sheets was approximately $12.0 million. We 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, we 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, we 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 we experience specific kinds of change of control, we 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 our general unsecured senior obligations, and are effectively subordinated to all of our 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 our non-guarantor subsidiaries, equal in right of payment to all of our and our guarantor subsidiaries’ existing and future senior indebtedness and senior in right of payment to all of our future subordinated indebtedness, if any. The Notes are jointly and severally guaranteed on a senior unsecured basis by certain of our 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, our ability and the ability of some of our 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 us by our restricted subsidiaries, merge or consolidate with other entities, engage in certain transactions with affiliates and designate our 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 us by our 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 to be due and payable.

Commitments and Contingencies (Notes)	12 Months Ended
Commitments and Contingencies (Notes)	Dec. 31, 2022
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 currently expect these losses to have a material impact on our 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. In addition, claims and lawsuits against us may seek injunctive or other relief that requires changes to our business practices or operations and it is possible that any required changes may materially and adversely impact our business, financial condition, results of operations or reputation. Unclaimed Property. We are subject to unclaimed property audits by states in the ordinary course of business. The property subject to review in the audit process includes 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 and believe we are in compliance with applicable escheat laws. Acima Consumer Financial Protection Bureau investigation. Prior to the execution of the definitive agreement to acquire Acima Holdings, Acima Holdings 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 Holding’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 Holdings extends credit, offers leases, or otherwise offers or provides a consumer financial product or service and whether Acima Holdings complies with certain consumer financial protection laws. We are fully cooperating with the CFPB investigation. 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 definitive agreement to acquire Acima Holdings, the former owners of Acima Holdings agreed to indemnify Upbound Group, Inc. for certain losses arising after the consummation of the transaction with respect to the CID and certain pre-closing taxes. The indemnification obligations of the former owners of Acima Holdings are limited to an indemnity holdback in the aggregate amount of $50 million, which was escrowed at the closing of the transaction, and will be Upbound Group, Inc.’s sole recourse against the former owners of Acima Holdings with respect to all of the indemnifiable claims under the definitive transaction agreement. In respect of certain pre-closing taxes, a portion of the escrowed funds were released to Acima Holdings’ former owners on the first business day following the date that was 18 months after the closing date of the transaction, in accordance with the definitive agreement. In respect of the CID, other than with respect to any then-pending or unresolved claims for indemnification submitted by Upbound Group, Inc., remaining escrowed funds of $45 million will be released on the earlier of February 17, 2024 and the date on which a final determination is entered providing for a resolution of the matters regarding the CID. There can be no assurance that the CID will be finally resolved prior to the release to the former owners of Acima Holdings 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 Holdings’ business practices or operations that could materially and adversely affect our business, financial condition, results of operations or reputation. California Attorney General. The California Attorney General (the “CAG”) issued an investigative subpoena in 2018 seeking information with respect to certain of our Acceptance Now business practices (now part of the Acima segment). In November 2021, the parties reached an agreement in principle regarding the resolution of this matter. On August 2, 2022, the parties finalized the settlement of this matter, which includes a proposed final judgment for approval by the Superior Court of the State of California. In the agreement and in consideration of the final resolution of this matter, we agreed to pay a total of $15.5 million in restitution to consumers and civil penalties along with certain injunctive provisions, including (1) in the case of rental-purchase transactions in California originating through a third-party host retailer, not to charge a cash price on the rental-purchase agreement that is greater than the cash price offered to the consumer by the host retailer, and (2) to implement certain additional customer disclosures, employee training and other compliance requirements and restrictions as set forth in the stipulated agreement. We did not admit to any violations of law or any wrongdoing. Although we disagree with the CAG’s interpretation of the relevant California statutory language regarding the definition of “cash price”, we entered into the agreement to avoid the expense, risk and distractions associated with potential protracted litigation. The agreed upon settlement amount of $15.5 million was paid in August 2022. Massachusetts Attorney General. The Massachusetts Attorney General (the “MAG”) issued a civil investigative demand in 2018 seeking information with respect to certain of our business practices, including regarding account management and certain other business practices in connection with our lease-to-own transactions. Since receiving such demand, we have cooperated with the MAG in connection with its investigation. In June 2021, the MAG provided us with proposed settlement terms including a monetary payment, injunctive provisions regarding certain business practices and compliance requirements. We are continuing to cooperate and discuss resolution of the inquiry with the MAG. We are currently unable to predict the ultimate timing or outcome of the MAG investigation. State Attorneys General Investigation. On November 1, 2021, Acima received a letter from the Nebraska Attorney General’s office stating that the Attorney General of Nebraska, along with a coalition of thirty-eight state Attorneys General, initiated a multi-state investigation into the business acts and practices of Acima and that a civil investigative demand(s) and/or subpoena(s) pursuant to respective state consumer protection laws will be forthcoming. Since receiving the letter, we have held multiple discussions with officials at the lead attorneys general offices and, based on those discussions, it is our understanding that the investigation is looking at business practices within the virtual lease-to-own industry and includes or will include multiple companies. In April 2022, we received a request for information and documents. Acima is cooperating with the investigation and is currently in the process of producing requested information. No specific allegations have been made against Acima pursuant to the investigation. We are currently unable to predict the eventual scope, timing or outcome of this matter.

- Definition

The entire disclosure for loss and gain contingencies. Describes any existing condition, situation, or set of circumstances involving uncertainty as of the balance sheet date (or prior to issuance of the financial statements) as to a probable or reasonably possible loss incurred by an entity that will ultimately be resolved when one or more future events occur or fail to occur, and typically discloses the amount of loss recorded or a range of possible loss, or an assertion that no reasonable estimate can be made.

+ References + Details

Other Charges and (Gains) (Notes)

12 Months Ended

Dec. 31, 2021

Other Charges - Operating Expenses [Abstract]

Other (Gains) and Charges [Text Block]

Other Charges

Acima Holdings Acquisition. As described in Note B, on February 17, 2021, we completed the acquisition of Acima Holdings, a leading provider of virtual lease-to-own solutions. Included in the aggregate consideration issued to the former owners of Acima Holdings were 8,096,595 common shares, valued at $414.1 million, subject to 36-month vesting conditions under restricted stock agreements, which will be recognized over the vesting term as stock compensation expense. During the twelve months ended December 31, 2022 and 2021, we recognized approximately $143.2 million and $127.1 million in stock compensation expense related to these restricted stock agreements, respectively.

The fair value of assets acquired as part of the transaction included $520 million in intangible assets and $170 million in developed technology. During the twelve months ended December 31, 2022 and 2021, we recognized approximately $64.9 million and $101.7 million in amortization expense and $15.9 million and $13.2 million in incremental depreciation expense related to these assets, respectively.

During the twelve months ended December 31, 2022 and 2021 we recognized approximately $0.2 million and $17.7 million in transaction costs associated with the closing of the transaction, respectively.

During the twelve months ended December 31, 2021 we recognized approximately $10.3 million in post-acquisition integration costs, including $5.1 million in inventory losses, $3.7 million in employee severance, and $1.5 million in other integration costs, including reorganization advisory fees.

Activity with respect to Other charges for the years ended December 31, 2022 and 2021 is summarized in the below table:


(In thousands)	Accrued Charges at December 31, 2020		Charges & Adjustments		Payments & Adjustments		Accrued Charges at December 31, 2021		Charges & Adjustments		Payments & Adjustments		Accrued Charges at December 31, 2022
Cash:
Acima Holdings transaction costs	$	5,005	$	17,680	$	(22,685)	$	—	$	187	$	(187)	$	—
Acima Holdings integration costs	—		6,572		(6,572)		—		—		—		—
Labor reduction costs(1)	344		3,751		(2,502)		1,593		4,983		(4,374)		2,202
Other cash charges(2)	—		658		(658)		—		406		(406)		—
Total cash charges	$	5,349	28,661		$	(32,417)	$	1,593	5,576		$	(4,967)	$	2,202
Non-cash:
Acima Holdings restricted stock agreements(3)			127,060						143,210
Depreciation and amortization of acquired assets(4)			114,959						80,792
Asset impairments(5)			1,572						6,764


Other(6)			17,661						(1,059)
Total other charges			$	289,913					$	235,283

(1) Represents charges incurred for employee severance.

(2) Represents shutdown and holding expenses related to store closures.

(3) Represents stock compensation expense related to common stock issued to Acima Holdings employees under restricted stock agreements as part of the acquisition proceeds subject to vesting restrictions, as described in Note B and Note O.

(4) Represents amortization of the total fair value of acquired intangible assets and incremental depreciation related to the fair value increase over net book value of acquired software assets in connection with the acquisition of Acima Holdings as described in Note B.

(5) Asset impairments primarily represent impairment of software assets 2022. Asset impairments in 2021 includes store damage related to Hurricane Ida.

(6) Includes $17.5 million in legal settlement reserves and $0.2 million in state sales tax assessment reserves for 2021. Amounts accrued for potential settlements do not represent our maximum loss exposure. The amount of any loss ultimately incurred in relation to matters for which an accrual has been established may be significantly different than the amounts accrued for such matters due to the inherent uncertainty in litigation, regulatory and similar adversarial proceedings.

Stock-Based Compensation (Notes)

12 Months Ended

Dec. 31, 2022

Stock-Based Compensation [Abstract]

Stock-Based Compensation

Stock-Based Compensation We maintain long-term incentive plans for the benefit of certain employees and directors. Our plans consist of the 2021 Long-Term Incentive Plan (the “2021 Plan”), the 2016 Long-Term Incentive Plan (the “2016 Plan”), the 2006 Long-Term Incentive Plan (the “2006 Plan”), and the 2006 Equity Incentive Plan (the “Equity Incentive Plan”), which are collectively known as the

“Plans.” All Plans prior to the 2021 Plan were previously expired upon approval of the superseding Plan, and any shares available for grant under the respective plans were canceled at the time of expiration.

On June 8, 2021, at the 2021 Annual Meeting of Stockholders, the stockholders approved the 2021 Plan. The 2021 Plan authorizes the issuance of a total of 5,000,000 shares of common stock. Any shares of common stock granted in connection with 2021 Plan awards will be counted against this limit as one share. 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 2021 Plan (other than options and stock appreciation rights), covering more than 800,000 shares of common stock. As of December 31, 2022 and 2021, there were 1,002,638 and 100,822 shares allocated to equity awards outstanding in the 2021 Plan, respectively.

Under the previously expired 2016 Plan, there were 1,226,875 and 2,184,396 shares, respectively, allocated to equity awards outstanding as of December 31, 2022 and 2021, respectively, in the 2016 Plan. The 2016 Plan expired on June 8, 2021 upon approval of the 2021 Plan.

Under the previously expired 2006 Plan and Equity Incentive Plan (formerly known as the Rent-Way, Inc. 2006 Equity Incentive Plan) there were 63,156 and 83,757 shares as of December 31, 2022 and 2021, respectively, allocated to outstanding equity awards under the 2006 Plan, and 47,827 and 63,065 shares as of December 31, 2022 and 2021, respectively, allocated to outstanding equity awards under the Equity Incentive Plan. The 2006 Plan and Equity Incentive Plan previously expired in 2016. Outstanding equity awards under these plans represent vested options that will expire at various times through 2026, unless exercised or canceled prior to the expiration date.

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 are immediately exercisable.

We grant restricted stock units to certain employees that vest ratably over a three-year service period. 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, 2022, 2021 and 2020 is as follows:


	Year Ended December 31,
(In thousands)	2022		2021		2020
Stock options	$	1,327	$	2,001	$	1,878
Restricted share units(1)	158,031		145,553		10,406
Total stock-based compensation expense	159,358		147,554		12,284
Tax benefit recognized in the statements of earnings	3,391		4,304		3,062
Stock-based compensation expense, net of tax	$	155,967	143,250		$	9,222

(1) Includes expense of $143.2 million and $127.1 million for the twelve months ended December 31, 2022 and 2021, respectively in stock compensation expense related to 8,096,595 common shares issued to the former owners of Acima, as part of the Aggregate Stock Consideration subject to restricted stock agreements, and recorded to Other charges in our Consolidated Statements of Operations. Shares issued as part of the Aggregate Stock Consideration for the acquisition of Acima Holdings were not issued under the authorization of the 2021 Plan or any prior approved long-term incentive plan described above. See Note B and Note N for additional information.

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 $1.3 million with a weighted average number of years to vesting of 1.52 at December 31, 2022.

Information with respect to stock option activity related to the Plans for the year ended December 31, 2022 follows:


	Equity Awards Outstanding	Weighted Average Exercise Price		Weighted Average Remaining Contractual Life	Aggregate Intrinsic Value (In thousands)
Balance outstanding at January 1, 2022	1,121,489	$	22.68
Granted	—	—
Exercised	(108,701)	16.43
Forfeited	(97,930)	28.64
Expired	(60,519)	29.80
Balance outstanding at December 31, 2022	854,339	$	22.29	5.37	$	3,594

Exercisable at December 31, 2022	610,844	$	19.82	19.82	$	3,453

The intrinsic value of options exercised during the years ended December 31, 2022, 2021, and 2020 was $1.4 million, $14.3 million, and $5.8 million, respectively, resulting in tax benefits of $0.5 million, $5.0 million, and $2.0 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. There were no options granted in 2022. The weighted average grant date fair value and weighted average assumptions used in the option pricing models for 2021 and 2020 are as follows:


	Year Ended December 31,
	2021			2020
Weighted average grant date fair value	$	14.94		$	7.28
Weighted average risk free interest rate	0.49		%	0.93		%
Weighted average expected dividend yield	2.87		%	4.75		%
Weighted average expected volatility	50.29		%	49.44		%
Weighted average expected life (in years)	4.62			4.62

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, 2022(1)	9,209,257	$	50.33
Granted	1,224,764	25.50
Vested(2)	(4,711,403)	48.99
Forfeited (3)	(545,133)	41.41
Balance outstanding at December 31, 2022(1)	5,177,485	$	46.63

(1) Includes 7,898,706 and 3,691,328 outstanding shares at January 1, 2022 and December 31, 2022 related to RSA agreements issued as part of the Aggregate Stock Consideration for the acquisition of Acima Holdings, described further in Note B, which were not issued under the authorization of the 2021 Plan or any previously approved long-term incentive plan described above.

(2) Includes 4,180,193 shares vested during 2022 as part of RSA agreements issued as part of the Aggregate Stock Consideration for the acquisition of Acima Holdings, as described above.

(3) Includes 27,185 shares forfeited during 2022 as part of RSA agreements issued as part of the Aggregate Stock Consideration for the acquisition of Acima Holdings, as described above.

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, 2022, was approximately $169.2 million expected to be recognized over a weighted average period of 1.24 years.

Deferred Compensation Plan (Notes)	12 Months Ended
Deferred Compensation Plan (Notes)	Dec. 31, 2022
Deferred Compensation Plan [Abstract]
Deferred Compensation Plan [Text Block]	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 their 401(k) Retirement Savings Plan ("the "401(k) Plan"). We may make discretionary contributions to the Deferred Compensation Plan, which are subject to a two-year 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, 2022, 2021 and 2020, we made matching cash contributions of approximately $120 thousand, $170 thousand, and $160 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, 2022, 2021 and 2020. The deferred compensation plan assets and liabilities were approximately $8.0 million and $10.4 million as of December 31, 2022 and 2021, respectively.

401(k) Plan (Notes)	12 Months Ended
401(k) Plan (Notes)	Dec. 31, 2022
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 two-year vesting schedule based on the participant's years of service with us. For the years ended December 31, 2022, 2021 and 2020, we made matching cash contributions of $6.0 million, $6.4 million, and $5.5 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 and in accordance with applicable law. As of December 31, 2022 and 2021, 3.7% and 6.9%, respectively, of the total plan assets consisted of our common stock.

Fair Value (Notes)

12 Months Ended

Dec. 31, 2022

Fair Value Disclosures [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.

Our financial instruments include cash and cash equivalents, receivables, payables, borrowings against our ABL Credit Facility and Term Loan Facility, and outstanding Notes. The carrying amount of cash and cash equivalents, receivables and payables approximates fair value at December 31, 2022 and December 31, 2021, 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, we believe the carrying value of outstanding borrowings approximates their fair value.

The fair value of our Notes is based on Level 1 inputs and was as follows at December 31, 2022:


	December 31, 2022
(in thousands)	Carrying Value		Fair Value		Difference
Senior notes	$	450,000	$	365,040	$	(84,960)

- 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 (Notes)	12 Months Ended
Stock Repurchase Plan (Notes)	Dec. 31, 2022
Stock Repurchase Plan [Abstract]
Stock repurchase plan	Stock Repurchase Plan In early December 2021, our Board of Directors authorized a new stock repurchase program for up to $500.0 million (the “December 2021 Program”), which superseded our previous stock repurchase program. Under the December 2021 Program, we may purchase shares of our common stock from time to time in the open market or privately negotiated transactions. We are not obligated to acquire any shares under the program, and the program may be suspended or discontinued at any time. During 2022, 3,536,799 shares of our common stock were repurchased for an aggregate purchase price of approximately $75.1 million under the December 2021 Program, which has approximately $285.0 million remaining under the current authorization available for repurchases. During 2021, 2,829,700 shares of our common stock were repurchased for an aggregate purchase price of approximately $140.0 million under the December 2021 Program. Under previous repurchase programs, 5,069,108 shares of our common stock were repurchased for an aggregate purchase price of $250.0 million during 2021. During 2020, 1,463,377 shares of our common stock were repurchased for an aggregate purchase prices of $26.6 million under previous repurchase programs.

Segment Information (Notes)

12 Months Ended

Dec. 31, 2022

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. Within our operating segments, we offer merchandise for lease from certain basic product categories: furniture, including mattresses, tires, consumer electronics, appliances, tools, handbags, computers, smartphones, and accessories.

We report financial operating performance under four operating segments. To better reflect our current strategic focus, our retail partner business operations are now reported as the Acima segment (formerly Preferred Lease), which includes our virtual and staffed business models; and our Rent-A-Center Business segment, 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 48 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 Acima segment, which primarily operates in the United States and Puerto Rico, and which includes the operations of Acima Holdings acquired in February 2021 and our former Preferred Lease virtual and staffed locations, generally offers the lease-to-own transaction to consumers who do not qualify for financing from the traditional retailer. The Acima segment offers the lease-to-own transaction through our virtual offering solutions across e-commerce, digital, and mobile channels, and through staffed and unstaffed kiosks located within such retailer’s locations.

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, 2022, 2021, and 2020 is as follows:


	Year Ended December 31,
(In thousands)	2022		2021		2020
Revenues
Rent-A-Center Business	$	1,949,864	$	2,037,849	$	1,852,641
Acima	2,110,320		2,328,089		810,151
Mexico	64,880		61,403		50,583
Franchising	120,328		156,110		100,816
Total revenues	$	4,245,392	$	4,583,451	$	2,814,191


	Year Ended December 31,
(In thousands)	2022		2021		2020
Gross profit
Rent-A-Center Business	$	1,372,863	$	1,433,536	$	1,294,695
Acima	632,244		728,852		321,110
Mexico	45,812		43,117		35,665
Franchising	28,613		29,507		20,682
Total gross profit	$	2,079,532	$	2,235,012	$	1,672,152


	Year Ended December 31,
(In thousands)	2022		2021		2020
Operating profit
Rent-A-Center Business	$	334,525	$	448,905	$	333,379
Acima	151,301		176,496		57,847
Mexico	6,267		7,858		5,798
Franchising	19,124		20,321		12,570
Total segments	511,217		653,580		409,594
Corporate(1)	(362,679)		(373,041)		(172,258)
Total operating profit	$	148,538	$	280,539	$	237,336

(1) Includes stock compensation expense of $143.2 million and $127.1 million for the twelve months ended December 31, 2022 and 2021, related to common stock issued to Acima Holdings employees under restricted stock agreements as part of the acquisition consideration subject to vesting restrictions as described in Note N.


	Year Ended December 31,
(In thousands)	2022		2021		2020
Depreciation, amortization and write-down of intangibles
Rent-A-Center Business	$	20,526	$	18,588	$	19,912
Acima(1)	1,928		2,122		2,066
Mexico	711		511		413
Franchising	146		93		40
Total segments	23,311		21,314		22,431
Corporate(2)	29,768		33,516		34,227
Total depreciation, amortization and write-down of intangibles	$	53,079	$	54,830	$	56,658

(1) Excludes amortization expense of approximately $64.9 million and $101.7 million for the twelve months ended December 31, 2022 and 2021, respectively, recorded to Other charges in the Consolidated Statement of Operations, related to intangible assets acquired upon closing of the Acima Holdings acquisition. See Note N for additional information.

(2) Excludes depreciation expense of approximately $15.9 million and $13.2 million for the twelve months ended December 31, 2022 and 2021, respectively, recorded to Other charges in the Consolidated Statement of Operations, related to software acquired upon closing of the Acima Holdings acquisition. See Note N for additional information.


	Year Ended December 31,
(In thousands)	2022		2021		2020
Capital expenditures
Rent-A-Center Business	$	36,682	$	23,139	$	14,869
Acima	244		1,045		161
Mexico	1,590		1,032		392
Franchising	332		—		—
Total segments	38,848		25,216		15,422
Corporate	22,539		37,234		19,123
Total capital expenditures	$	61,387	$	62,450	$	34,545


	December 31,
(In thousands)	2022		2021		2020
On rent rental merchandise, net
Rent-A-Center Business	$	465,095	$	477,901	$	444,945
Acima	503,795		676,279		299,660
Mexico	20,979		18,844		18,281
Total on rent rental merchandise, net	$	989,869	$	1,173,024	$	762,886


	December 31,
(In thousands)	2022		2021		2020
Held for rent rental merchandise, net
Rent-A-Center Business	$	124,117	$	123,111	$	136,219
Acima	373		626		2,228
Mexico	10,469		9,247		7,819
Total held for rent rental merchandise, net	$	134,959	$	132,984	$	146,266


	December 31,
(In thousands)	2022		2021		2020
Assets by segment
Rent-A-Center Business	$	1,067,875	$	1,026,886	$	999,252
Acima	1,198,879		1,476,752		389,650
Mexico	51,225		41,669		42,278
Franchising	18,194		15,412		14,729
Total segments	2,336,173		2,560,719		1,445,909
Corporate	427,446		432,608		305,071
Total assets	$	2,763,619	$	2,993,327	$	1,750,980


	December 31,
(In thousands)	2022		2021		2020
Assets by country
United States	$	2,712,394	$	2,951,658	$	1,708,702
Mexico	51,225		41,669		42,278

Total assets	$	2,763,619	$	2,993,327	$	1,750,980


	Year Ended December 31,
(In thousands)	2022		2021		2020
Rentals and fees by inventory category
Furniture and accessories	$	1,323,437	$	1,542,003	$	1,028,876
Consumer electronics	482,959		435,004		358,931
Appliances	439,309		426,316		322,261
Wheels and tires	308,618		280,132		—
Jewelry	194,123		146,477		—
Computers	129,577		155,313		119,015
Smartphones	52,803		61,058		59,205
Other products and services	444,627		476,150		374,803
Total rentals and fees	$	3,375,453	$	3,522,453	$	2,263,091


	Year Ended December 31,
(In thousands)	2022		2021		2020
Revenue by country
United States	$	4,180,512	$	4,522,048	$	2,763,608
Mexico	64,880		61,403		50,583

Total revenues	$	4,245,392	$	4,583,451	$	2,814,191

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

+ References

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+ Details

Earnings Per Common Share (Notes)

12 Months Ended

Dec. 31, 2022

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)	2022		2021		2020
Numerator:
Net earnings	$	12,357	$	134,940	$	208,115
Denominator:
Weighted-average shares outstanding	53,850		57,053		54,187
Effect of dilutive stock awards	5,116		9,786		1,567
Weighted-average dilutive shares	58,966		66,839		55,754

Basic earnings per share	$	0.23	$	2.37	$	3.84
Diluted earnings per share	$	0.21	$	2.02	$	3.73
Anti-dilutive securities excluded from diluted earnings per common share:
Anti-dilutive restricted share units	80		32		1
Anti-dilutive performance share units	197		107		3
Anti-dilutive stock options	448		295		949

Nature of Operations and Summary of Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2022
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 In February 2023, we changed our corporate name from Rent-A-Center, Inc. to Upbound Group, Inc. The financial statements included herein include the accounts of Upbound Group, Inc., and its direct and indirect subsidiaries. All intercompany accounts and transactions have been eliminated. Unless the context indicates otherwise, references to “Upbound Group, Inc.” refer only to Upbound Group, Inc., the parent, and references to the “Company,” “we,” “us” and “our” refer to the consolidated business operations of Upbound Group, Inc. and any or all of its direct and indirect subsidiaries. We report four operating segments: Rent-A-Center Business, Acima (formerly 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, 2022, we operated 1,851 company-owned stores nationwide and in Puerto Rico, including 48 retail installment sales stores. Our Acima segment, which operates in the United States and Puerto Rico, which includes the operations of Acima Holdings (as defined in Note B below) acquired in February 2021 and our previous Preferred Lease virtual and staffed locations, generally offers the lease-to-own transaction to consumers who do not qualify for financing from the traditional retailer through staffed or unstaffed kiosks located within such retailer’s locations, or other virtual options. Virtual locations 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. 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, 2022, we operated 126 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, 2022, Franchising had 447 franchised stores operating in 31 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 in Rent-A-Center Business, staffed Acima locations and Mexico stores is depreciated 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 of rental 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. Lease merchandise in Acima Holdings is depreciated over the lease term using a straight-line depreciation method. Depreciation under the straight-line method is recognized each period over the term of the lease-to-own contract irrespective of receipt of revenue payments from the customer. In addition, we depreciate merchandise 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 held for rent. Depreciation of merchandise in our virtual business is recognized using a straight-line method over the term of the lease contract. 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 120th day in our Acima virtual business and 150th day in our Acima staffed locations. Minor repairs made to rental merchandise are expensed at the time of the repair. In addition, we maintain a reserve for these expected losses, which estimates the merchandise losses incurred but not yet identified by management as of the end of the accounting period based on a combination of historical write-offs and expected future losses. As of December 31, 2022 and 2021, the reserve for merchandise losses was $93.6 million and $98.2 million, respectively. Expenses related to merchandise losses, damaged merchandise, or merchandise repairs are recorded to other store expenses in our Consolidated Statement of Operations and were $375.2 million, $331.9 million, and $205.2 million for the years ended December 31, 2022, 2021, and 2020, respectively.
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 Rental merchandise is leased to customers pursuant to lease-to-own agreements which provide for weekly, bi-weekly, semi-monthly or monthly terms with non-refundable lease payments. Generally, the customer has the right to acquire title of the merchandise either through a purchase option or through payment of all required lease terms. Rental revenue and fees are recognized over the lease 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 lease term. Revenue is accrued for uncollected amounts due based on historical collection experience. However, the total amount of the lease-to-own agreement is not accrued because the customer can elect not to renew the lease-to-own agreement at any time and we cannot enforce collection for non-payment of future lease payments. 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. Franchise 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 lease-to-own customers for renewal and uncollected rental payments, adjusted for the probability of collection based on our assessment of historical collection rates; amounts owed from our franchisees for inventory purchases, earned royalties and other obligations; 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) on the straight-line method. Leasehold improvements are amortized over the useful life of the asset or the initial term of the applicable leases on 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 for each reporting unit. 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. 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, 2022, the amount of goodwill attributable to the Rent-A-Center Business and Acima segments was approximately $1.5 million and $288.3 million, respectively. We currently do not have goodwill balances attributable to our Mexico or Franchising segments. Acquired intangible assets are recorded at their estimated fair value as of the date of acquisition and generally include customer relationships, merchant relationships, non-compete agreements and trade names. Customer relationships are generally amortized over a 21-month period, excluding Relationships with Existing Lessees recently acquired from Acima Holdings which are being amortized over 12 months. Non-compete Agreements are amortized over the contractual life of the agreements, Merchant Relationships are amortized over a 7 to 15 year period, and Trade Names and other intangible assets are amortized over the estimated 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 unless such pattern cannot be reliably determined, in which case we amortize using a straight-line amortization 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 Income (Loss) Other (loss) comprehensive 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 $53.6 million, $73.9 million, and $50.9 million, for the years ended December 31, 2022, 2021, and 2020, respectively. Advertising expense is net of vendor allowances of $20.0 million, $21.6 million, and $24.8 million for the years ended December 31, 2022, 2021, and 2020, 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. 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. There were no reclassifications of reported amounts for prior periods included in the financial statements of our Annual Report on Form 10-K for the year ended December 31, 2022.
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 from recent macro-economic trends, including related to the COVID-19 pandemic, and consumer spending behavior, 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.
New Accounting Pronouncements	Newly Adopted Accounting Pronouncements From time to time, new accounting pronouncements are issued by the FASB or other standards setting bodies that we adopt as of the specified effective date. As of December 31, 2022, we believe the impact of any recently issued standards that are not yet effective are either not applicable to us at this time, or will not have a material impact on our consolidated financial statements upon adoption.

Acquisitions and Divestitures (Tables)

12 Months Ended

Dec. 31, 2022

Business Combinations [Abstract]

Acima acquisition [Table Text Block]

The following table provides the estimated fair values of the identifiable assets acquired and liabilities assumed as of the acquisition date:


(in thousands)	February 17, 2021
Aggregate cash consideration	$	1,273,263
Aggregate stock consideration, subject to lockup agreements	120,929
Total Purchase price	$	1,394,192
ASSETS ACQUIRED
Receivables, net(1)	$	25,255
Prepaid expenses and other assets	700
Rental merchandise
On rent	340,575
Property assets	171,455
Operating lease right-of-use assets	9,136
Deferred income taxes	28,559
Goodwill	219,530
Other intangible assets	520,000
Total assets acquired	$	1,315,210
LIABILITIES ASSUMED
Accounts payable - trade	16,023
Accrued liabilities	11,716
Operating lease liabilities	9,689
Deferred income taxes	(116,410)
Total liabilities assumed	(78,982)
Total equity value	$	1,394,192

(1) Includes gross contractual receivables of $61.6 million related to merchandise lease contracts, of which $34.7 million were estimated to be uncollectible.

Acquisitions [Table Text Block]

The following table provides information concerning other store acquisitions completed during the years ended December 31, 2022, 2021 and 2020.


	Year Ended December 31,
(Dollar amounts in thousands)	2022		2021		2020
Number of stores acquired remaining open	1		1		—
Number of stores acquired that were merged with existing stores	4		—		2
Number of transactions	5		1		2
Total purchase price	$	995	$	278	$	700
Amounts allocated to:
Goodwill	$	—	$	—	$	—

Customer relationships	141		30		177
Rental merchandise	854		248		523

Finite-Lived and Indefinite-Lived Intangible Assets Acquired as Part of Business Combination [Table Text Block]

The fair value measurements for acquired intangible assets and developed technology were primarily based on significant unobservable inputs (Level 3) developed using company-specific information. Certain fair values were determined based on an independent valuation of the net assets acquired, including

$340.6 million of rental merchandise and $520 million of identifiable intangible assets with an estimated weighted average useful life of 8 years, as follows:


Asset Class	Estimated Fair Value (in thousands)		Estimated Remaining Useful Life (in years)
Merchant relationships	$	380,000	10
Relationship with existing lessees	60,000		1
Trade name	40,000		7
Non-compete agreements	40,000		3

Pro Forma combined results

The unaudited pro forma financial information is as follows:


	Year Ended December 31,
(in thousands)		2021		2020
		(unaudited)		(unaudited)
Pro Forma total revenues		$	4,778,055	$	4,071,990
Pro Forma net earnings(1)		178,103		66,352

(1) Total pro forma adjustments to net earnings represented an increase of $16.0 million and a decrease of $356.8 million for the twelve months ended December 31, 2021 and 2020, respectively.

The amounts of revenue and earnings of Acima Holdings included in our Consolidated Statements of Operations as of December 31, 2021 from the acquisition date of February 17th 2021 are as follows:


(in thousands)	February 17, 2021 - December 31, 2021
	audited
Total revenues	$	1,495,746
Net earnings(1)	119,183

(1) Net Earnings includes amortization of intangible assets acquired upon closing of the Acima Holdings acquisition.

Revenues (Tables)

12 Months Ended

Dec. 31, 2022

Revenues [Abstract]

Disaggregation of Revenue [Table Text Block]

The following tables disaggregates our revenue:


	Twelve Months Ended December 31, 2022
	Rent-A-Center Business		Acima(1)		Mexico		Franchising		Consolidated
(In thousands)
Store
Rentals and fees	$	1,724,541	$	1,589,708	$	61,204	$	—	$	3,375,453
Merchandise sales	151,745		520,077		3,466		—		675,288
Installment sales	72,328		—		—		—		72,328
Other	1,250		535		210		2,980		4,975
Total store revenues	1,949,864		2,110,320		64,880		2,980		4,128,044
Franchise
Merchandise sales	—		—		—		91,350		91,350
Royalty income and fees	—		—		—		25,998		25,998
Total revenues	$	1,949,864	$	2,110,320	$	64,880	$	120,328	$	4,245,392

(1) Represents revenues for our Acima segment, as defined in Note B.


	Twelve Months Ended December 31, 2021
	Rent-A-Center Business		Acima(1)		Mexico		Franchising		Consolidated
(In thousands)
Store
Rentals and fees	$	1,762,847	$	1,701,532	$	58,074	$	—	3,522,453
Merchandise sales	199,781		626,166		3,275		—		829,222
Installment sales	73,585		—		—		—		73,585
Other	1,636		391		54		2,067		4,148
Total store revenues	2,037,849		2,328,089		61,403		2,067		4,429,408
Franchise
Merchandise sales	—		—		—		126,856		126,856
Royalty income and fees	—		—		—		27,187		27,187
Total revenues	$	2,037,849	$	2,328,089	$	61,403	$	156,110	$	4,583,451

(1) Represents revenues for our Acima segment, as defined in Note B.


	Twelve Months Ended December 31, 2020
	Rent-A-Center Business		Acima(1)		Mexico		Franchising		Consolidated
(In thousands)
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

(1) Represents revenues for our Acima segment, as defined in Note B.

Receivables and Allowance for Doubtful Accounts (Tables)

12 Months Ended

Dec. 31, 2022

Receivables and Allowance for Doubtful Accounts [Abstract]

Receivables

Receivables consist of the following:


	December 31,
(In thousands)	2022		2021
Installment sales receivable	$	69,550	$	66,276
Trade and notes receivables(1)	55,529		68,581

Total receivables	125,079		134,857
Less allowance for doubtful accounts(2)	(13,214)		(8,479)
Total receivables, net of allowance for doubtful accounts	$	111,865	$	126,378

Changes in allowance for doubtful accounts

Changes in our allowance for doubtful accounts are as follows:


	Year Ended December 31,
(In thousands)	2022		2021		2020
Beginning allowance for doubtful accounts	$	8,479	$	8,047	$	5,601
Estimated uncollectible payments and returns(1)	24,658		14,397		14,636
Accounts written off, net of recoveries	(19,923)		(13,965)		(12,190)
Ending allowance for doubtful accounts	$	13,214	$	8,479	$	8,047

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

Rental Merchandise Rental (Tables)

12 Months Ended

Dec. 31, 2022

Rental Merchandise [Abstract]

Rental Merchandise [Table Text Block]

Rental Merchandise


	December 31,
(In thousands)	2022		2021
On rent
Cost	$	1,629,394	$	1,894,247
Less accumulated depreciation	(639,525)		(721,223)
Net book value, on rent	$	989,869	$	1,173,024
Held for rent
Cost	$	159,399	$	155,832
Less accumulated depreciation	(24,440)		(22,848)
Net book value, held for rent	$	134,959	$	132,984

Property Assets (Tables)

12 Months Ended

Dec. 31, 2022

Property Assets [Abstract]

Property Assets [Table Text Block]

Property Assets


	December 31,
(In thousands)	2022		2021
Software	$	479,714	$	468,011
Building and leasehold improvements	207,613		199,280
Furniture and equipment	158,843		172,418
Transportation equipment	752		549
Construction in progress	25,124		25,293
Total property assets	872,046		865,551
Less accumulated depreciation	(576,675)		(557,453)
Total property assets, net of accumulated depreciation	$	295,371	$	308,098

Leases (Tables)

12 Months Ended

Dec. 31, 2022

Leases [Abstract]

Operating lease costs [Table Text Block]

Total operating lease costs by expense type:


	Twelve Months Ended
(in thousands)	December 31, 2022		December 31, 2021		December 31, 2020
Operating lease cost included in other store expenses(1)(2)	$	124,376	$	129,217	$	140,186
Operating lease cost included in other charges	303		302		1,236
Sublease receipts	(7,128)		(11,806)		(9,727)
Total operating lease charges	$	117,551	$	117,713	$	131,695

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

(2) Excludes variable lease costs of $36.2 million and $33.7 million for the twelve months ended December 31, 2022 and 2021, respectively.

Supplemental cash flow information related to leases:


	Twelve Months Ended
(in thousands)	December 31, 2022		December 31, 2021		December 31, 2020
Cash paid for amounts included in measurement of operating lease liabilities	$	104,281	$	107,588	$	113,243
Cash paid for short-term operating leases not included in operating lease liabilities	18,639		17,266		22,339
Right-of-use assets obtained in exchange for new operating lease liabilities	99,952		100,779		104,771

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


(in thousands)	December 31, 2022		December 31, 2021		December 31, 2020
Weighted-average discount rate(1)	7.0	%	6.0	%	6.8	%
Weighted-average remaining lease term (in years)	4		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, 2022:


(In thousands)	Operating Leases
2023	$	104,613
2024	88,771
2025	70,454
2026	46,036
2027	25,381
Thereafter	16,482
Total undiscounted operating lease liabilities	351,737
Less: Interest	(46,181)
Total present value of operating lease liabilities	$	305,556

Goodwill and Other Intangible Assets (Tables)

12 Months Ended

Dec. 31, 2022

Goodwill and Intangible Assets Disclosure [Abstract]

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

Amortizable intangible assets consist of the following:


		December 31, 2022				December 31, 2021
(Dollar amounts in thousands)	Avg. Life (years)	Gross Carrying Amount		Accumulated Amortization		Gross Carrying Amount		Accumulated Amortization
Customer relationships(1)	2	$	140,180	$	140,080	$	140,039	$	132,127
Merchant relationships	10	389,760		74,850		389,760		35,960
Trade Name	7	40,000		10,680		40,000		4,966
Non-compete agreements	3	46,719		31,640		46,719		18,307
Total other intangible assets		$	616,659	$	257,250	$	616,518	$	191,360

Aggregate Amortization Expense [Table Text Block]

Aggregate amortization expense (in thousands):


Year Ended December 31, 2022	$	65,890
Year Ended December 31, 2021	$	102,742
Year Ended December 31, 2020	$	1,070

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
2023	$	58,017
2024	46,372
2025	44,604
2026	44,604
2027	44,604
Thereafter	121,208
Total amortization expense	$	359,409

Schedule of Goodwill [Table Text Block]

A summary of the changes in recorded goodwill follows:


	Year Ended December 31,
(In thousands)	2022		2021
Beginning goodwill balance	$	289,750	$	70,217
Additions from acquisitions	—		241,774

Post purchase price allocation adjustments	—		(22,241)
Ending goodwill balance	$	289,750	$	289,750

- Definition

Tabular disclosure of goodwill by reportable segment and in total which includes a rollforward schedule.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (h)
-URI https://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (c)
-URI https://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267

Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (g)
-URI https://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267

Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 50
-Paragraph 1
-URI https://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267

Reference 5: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (e)
-URI https://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267

Reference 6: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (d)
-URI https://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267

Reference 7: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 50
-Paragraph 1A
-URI https://asc.fasb.org/extlink&oid=121556970&loc=SL108378252-109267

Reference 8: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (f)
-URI https://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267

Reference 9: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267

Reference 10: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 50
-Paragraph 2
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=121556970&loc=d3e13854-109267

Reference 11: http://www.xbrl.org/2003/role/exampleRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 55
-Paragraph 24
-URI https://asc.fasb.org/extlink&oid=122137925&loc=d3e14258-109268

Reference 12: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267

+ Details

Accrued Liabilities (Tables)

12 Months Ended

Dec. 31, 2022

Accrued Liabilities [Abstract]

Accrued liabilities [Table Text Block]

Accrued Liabilities


	December 31,
(In thousands)	2022		2021
Accrued insurance costs	$	87,298	$	89,621
Deferred revenue	73,953		71,376
Taxes other than income	32,519		49,708
Accrued compensation	22,880		46,750
Accrued dividends	27,428		27,801
Accrued interest payable	24,309		11,993
Income taxes payable	8,034		—
Deferred compensation	8,025		10,349

Accrued legal settlement	7,650		22,500
Accrued other	28,528		32,610
Total Accrued liabilities	$	320,624	$	362,708

Income Taxes (Tables)

12 Months Ended

Dec. 31, 2022

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)	2022		2021		2020
Domestic	$	43,977	$	176,042	$	212,859
Foreign	17,494		18,262		9,920
Earnings before income taxes	$	61,471	$	194,304	$	222,779

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,
	2022		2021		2020
Tax at statutory rate	21.0	%	21.0	%	21.0	%

Stock compensation	53.4	%	11.6	%	—	%
State income taxes	13.4	%	7.4	%	2.8	%
Effect of foreign operations	6.6	%	2.0	%	(0.3)	%
Effect of current and prior year credits	(13.2)	%	(2.4)	%	(0.8)	%
Change in unrecognized tax benefits	0.1	%	(2.8)	%	0.3	%
Other permanent differences	0.9	%	0.3	%	(0.7)	%
Prior year return to provision adjustments	1.7	%	(0.2)	%	1.1	%

Benefit of CARES Act	—	%	—	%	(7.5)	%
Valuation allowance	(3.0)	%	(7.1)	%	(9.3)	%
Other, net	(1.0)	%	0.8	%	—	%
Effective income tax rate	79.9	%	30.6	%	6.6	%

Components of Income Tax Expense [Table Text Block]

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


	Year Ended December 31,
(In thousands)	2022		2021		2020
Current expense (benefit)
Federal	$	62,878	$	(7,398)	$	14,354
State	21,473		15,106		4,735
Foreign	4,570		3,690		1,608
Total current	88,921		11,398		20,697
Deferred (benefit) expense
Federal	(25,923)		56,716		12,576
State	(13,321)		(1,205)		(2,956)
Foreign	(563)		(7,545)		(15,653)
Total deferred	(39,807)		47,966		(6,033)
Total income tax expense	$	49,114	$	59,364	$	14,664

Deferred Tax Assets [Table Text Block]

Deferred tax assets (liabilities) consist of the following:


	December 31,
(In thousands)	2022		2021
Deferred tax assets

Net operating loss carryforwards	$	27,059	$	35,834

Accrued liabilities	55,527		48,659
Intangible assets	155,238		165,135

Lease obligations	81,412		73,819
Other assets including credits	8,804		12,157
Foreign tax credit carryforwards	2,991		7,696
Total deferred tax assets	331,031		343,300
Valuation allowance	(3,158)		(7,688)
Deferred tax assets, net	327,873		335,612
Deferred tax liabilities
Rental merchandise	(236,381)		(288,504)
Property assets	(16,415)		(20,094)
Lease assets	(79,725)		(72,458)
Other liabilities	(452)		(108)
Total deferred tax liabilities	(332,973)		(381,164)
Net deferred taxes	$	(5,100)	$	(45,552)

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)	2022		2021		2020
Beginning unrecognized tax benefit balance	$	6,536	$	22,184	$	24,208
Additions (reductions) based on tax positions related to current year	(474)		461		1,204
Additions for tax positions of prior years	21		4,119		45
Reductions for tax positions of prior years	(983)		(3,006)		(2,086)
Settlements	—		(17,222)		(1,187)
Ending unrecognized tax benefit balance	$	5,100	$	6,536	$	22,184

Senior Debt (Tables)

12 Months Ended

Dec. 31, 2022

Senior Debt [Abstract]

Debt facilities [Table Text Block]

The senior debt facilities as of December 31, 2022 and 2021 are as follows:


		December 31, 2022						December 31, 2021
(In thousands)	Facility Maturity	Maximum Facility		Amount Outstanding		Amount Available		Maximum Facility		Amount Outstanding		Amount Available
Senior Debt:
Term Loan Facility	February 17, 2028	$	875,000	$	859,688	$	—	$	875,000	$	868,438	$	—
ABL Credit Facility(1)	February 17, 2026	550,000		90,000		395,621		550,000		290,000		173,616

Total		$	1,425,000	949,688		$	395,621	$	1,425,000	1,158,438		$	173,616
Unamortized debt issuance costs				(18,786)						(23,231)
Total senior debt, net				$	930,902					$	1,135,207

(1 )Borrowing availability is net of issued letters of credit of approximately $64.4 million and $86.4 million for the years ended December 31, 2022 and 2021, respectively

Maturities of outstanding debt [Table Text Block]

The table below shows the scheduled maturity dates of our outstanding debt at December 31, 2022 for each of the years ending December 31:


(in thousands)	Term Loan Facility		ABL Credit Facility		Total
2023	$	8,750	$	—	$	8,750
2024	8,750		—		8,750
2025	8,750		—		8,750
2026	8,750		90,000		98,750
2027	8,750		—		8,750
Thereafter	815,938		—		815,938
Total senior debt	$	859,688	$	90,000	$	949,688

Other Charges and (Gains) (Tables)

12 Months Ended

Dec. 31, 2022

Other Charges - Operating Expenses [Abstract]

Other Charges (Gains) [Table Text Block]

Activity with respect to Other charges for the years ended December 31, 2022 and 2021 is summarized in the below table:


(In thousands)	Accrued Charges at December 31, 2020		Charges & Adjustments		Payments & Adjustments		Accrued Charges at December 31, 2021		Charges & Adjustments		Payments & Adjustments		Accrued Charges at December 31, 2022
Cash:
Acima Holdings transaction costs	$	5,005	$	17,680	$	(22,685)	$	—	$	187	$	(187)	$	—
Acima Holdings integration costs	—		6,572		(6,572)		—		—		—		—
Labor reduction costs(1)	344		3,751		(2,502)		1,593		4,983		(4,374)		2,202
Other cash charges(2)	—		658		(658)		—		406		(406)		—
Total cash charges	$	5,349	28,661		$	(32,417)	$	1,593	5,576		$	(4,967)	$	2,202
Non-cash:
Acima Holdings restricted stock agreements(3)			127,060						143,210
Depreciation and amortization of acquired assets(4)			114,959						80,792
Asset impairments(5)			1,572						6,764


Other(6)			17,661						(1,059)
Total other charges			$	289,913					$	235,283

(1) Represents charges incurred for employee severance.

(2) Represents shutdown and holding expenses related to store closures.

(5) Asset impairments primarily represent impairment of software assets 2022. Asset impairments in 2021 includes store damage related to Hurricane Ida.

Stock-Based Compensation (Tables)

12 Months Ended

Dec. 31, 2022

Stock-Based Compensation [Abstract]

Stock-based compensation expense [Table Text Block]

Stock-based compensation expense for the years ended December 31, 2022, 2021 and 2020 is as follows:


	Year Ended December 31,
(In thousands)	2022		2021		2020
Stock options	$	1,327	$	2,001	$	1,878
Restricted share units(1)	158,031		145,553		10,406
Total stock-based compensation expense	159,358		147,554		12,284
Tax benefit recognized in the statements of earnings	3,391		4,304		3,062
Stock-based compensation expense, net of tax	$	155,967	143,250		$	9,222

Stock option activity [Table Text Block]

Information with respect to stock option activity related to the Plans for the year ended December 31, 2022 follows:


	Equity Awards Outstanding	Weighted Average Exercise Price		Weighted Average Remaining Contractual Life	Aggregate Intrinsic Value (In thousands)
Balance outstanding at January 1, 2022	1,121,489	$	22.68
Granted	—	—
Exercised	(108,701)	16.43
Forfeited	(97,930)	28.64
Expired	(60,519)	29.80
Balance outstanding at December 31, 2022	854,339	$	22.29	5.37	$	3,594

Exercisable at December 31, 2022	610,844	$	19.82	19.82	$	3,453

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


	Year Ended December 31,
	2021			2020
Weighted average grant date fair value	$	14.94		$	7.28
Weighted average risk free interest rate	0.49		%	0.93		%
Weighted average expected dividend yield	2.87		%	4.75		%
Weighted average expected volatility	50.29		%	49.44		%
Weighted average expected life (in years)	4.62			4.62

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, 2022(1)	9,209,257	$	50.33
Granted	1,224,764	25.50
Vested(2)	(4,711,403)	48.99
Forfeited (3)	(545,133)	41.41
Balance outstanding at December 31, 2022(1)	5,177,485	$	46.63

(2) Includes 4,180,193 shares vested during 2022 as part of RSA agreements issued as part of the Aggregate Stock Consideration for the acquisition of Acima Holdings, as described above.

(3) Includes 27,185 shares forfeited during 2022 as part of RSA agreements issued as part of the Aggregate Stock Consideration for the acquisition of Acima Holdings, as described above.

Fair Value (Tables)

12 Months Ended

Dec. 31, 2022

Fair Value Disclosures [Abstract]

Fair Value Measurement Inputs and Valuation Techniques

The fair value of our Notes is based on Level 1 inputs and was as follows at December 31, 2022:


	December 31, 2022
(in thousands)	Carrying Value		Fair Value		Difference
Senior notes	$	450,000	$	365,040	$	(84,960)

Segment Information (Tables)

12 Months Ended

Dec. 31, 2022

Segment Information [Abstract]

Segment Information [Table Text Block]

Segment information as of and for the years ended December 31, 2022, 2021, and 2020 is as follows:


	Year Ended December 31,
(In thousands)	2022		2021		2020
Revenues
Rent-A-Center Business	$	1,949,864	$	2,037,849	$	1,852,641
Acima	2,110,320		2,328,089		810,151
Mexico	64,880		61,403		50,583
Franchising	120,328		156,110		100,816
Total revenues	$	4,245,392	$	4,583,451	$	2,814,191


	Year Ended December 31,
(In thousands)	2022		2021		2020
Gross profit
Rent-A-Center Business	$	1,372,863	$	1,433,536	$	1,294,695
Acima	632,244		728,852		321,110
Mexico	45,812		43,117		35,665
Franchising	28,613		29,507		20,682
Total gross profit	$	2,079,532	$	2,235,012	$	1,672,152


	Year Ended December 31,
(In thousands)	2022		2021		2020
Operating profit
Rent-A-Center Business	$	334,525	$	448,905	$	333,379
Acima	151,301		176,496		57,847
Mexico	6,267		7,858		5,798
Franchising	19,124		20,321		12,570
Total segments	511,217		653,580		409,594
Corporate(1)	(362,679)		(373,041)		(172,258)
Total operating profit	$	148,538	$	280,539	$	237,336


	Year Ended December 31,
(In thousands)	2022		2021		2020
Depreciation, amortization and write-down of intangibles
Rent-A-Center Business	$	20,526	$	18,588	$	19,912
Acima(1)	1,928		2,122		2,066
Mexico	711		511		413
Franchising	146		93		40
Total segments	23,311		21,314		22,431
Corporate(2)	29,768		33,516		34,227
Total depreciation, amortization and write-down of intangibles	$	53,079	$	54,830	$	56,658


	Year Ended December 31,
(In thousands)	2022		2021		2020
Capital expenditures
Rent-A-Center Business	$	36,682	$	23,139	$	14,869
Acima	244		1,045		161
Mexico	1,590		1,032		392
Franchising	332		—		—
Total segments	38,848		25,216		15,422
Corporate	22,539		37,234		19,123
Total capital expenditures	$	61,387	$	62,450	$	34,545


	December 31,
(In thousands)	2022		2021		2020
On rent rental merchandise, net
Rent-A-Center Business	$	465,095	$	477,901	$	444,945
Acima	503,795		676,279		299,660
Mexico	20,979		18,844		18,281
Total on rent rental merchandise, net	$	989,869	$	1,173,024	$	762,886


	December 31,
(In thousands)	2022		2021		2020
Held for rent rental merchandise, net
Rent-A-Center Business	$	124,117	$	123,111	$	136,219
Acima	373		626		2,228
Mexico	10,469		9,247		7,819
Total held for rent rental merchandise, net	$	134,959	$	132,984	$	146,266


	December 31,
(In thousands)	2022		2021		2020
Assets by segment
Rent-A-Center Business	$	1,067,875	$	1,026,886	$	999,252
Acima	1,198,879		1,476,752		389,650
Mexico	51,225		41,669		42,278
Franchising	18,194		15,412		14,729
Total segments	2,336,173		2,560,719		1,445,909
Corporate	427,446		432,608		305,071
Total assets	$	2,763,619	$	2,993,327	$	1,750,980


	December 31,
(In thousands)	2022		2021		2020
Assets by country
United States	$	2,712,394	$	2,951,658	$	1,708,702
Mexico	51,225		41,669		42,278

Total assets	$	2,763,619	$	2,993,327	$	1,750,980


	Year Ended December 31,
(In thousands)	2022		2021		2020
Rentals and fees by inventory category
Furniture and accessories	$	1,323,437	$	1,542,003	$	1,028,876
Consumer electronics	482,959		435,004		358,931
Appliances	439,309		426,316		322,261
Wheels and tires	308,618		280,132		—
Jewelry	194,123		146,477		—
Computers	129,577		155,313		119,015
Smartphones	52,803		61,058		59,205
Other products and services	444,627		476,150		374,803
Total rentals and fees	$	3,375,453	$	3,522,453	$	2,263,091


	Year Ended December 31,
(In thousands)	2022		2021		2020
Revenue by country
United States	$	4,180,512	$	4,522,048	$	2,763,608
Mexico	64,880		61,403		50,583

Total revenues	$	4,245,392	$	4,583,451	$	2,814,191

Earnings Per Common Share (Tables)

12 Months Ended

Dec. 31, 2022

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)	2022		2021		2020
Numerator:
Net earnings	$	12,357	$	134,940	$	208,115
Denominator:
Weighted-average shares outstanding	53,850		57,053		54,187
Effect of dilutive stock awards	5,116		9,786		1,567
Weighted-average dilutive shares	58,966		66,839		55,754

Basic earnings per share	$	0.23	$	2.37	$	3.84
Diluted earnings per share	$	0.21	$	2.02	$	3.73
Anti-dilutive securities excluded from diluted earnings per common share:
Anti-dilutive restricted share units	80		32		1
Anti-dilutive performance share units	197		107		3
Anti-dilutive stock options	448		295		949

Nature of Operations and Summary of Accounting Policies (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2022 USD ($) segment store	Dec. 31, 2021 USD ($)	Dec. 31, 2020 USD ($)
Nature of Operations and Summary of Accounting Policies [Abstract]
Number of operating segments \| segment	4
Number of company-owned stores nationwide and in Puerto Rico \| store	1,851
Number of retail installment sales stores \| store	48
Number of stores in Mexico \| store	126
Number of Franchised stores \| store	447
Number of states with Franchised stores	31
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
Reserves for Merchandise Losses	$ 93,600	$ 98,200
Other store expenses	$ 821,821	770,073	$ 609,370
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
Goodwill	$ 289,750	289,750	70,217
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	$ 53,600	73,900	50,900
Vendor Allowances	20,000	21,600	24,800
Merchandise Losses, Damages and Repairs
Nature of Operations and Summary of Accounting Policies [Abstract]
Other store expenses	$ 375,200	331,900	$ 205,200
Furniture, equipment and vehicle [Member]
Receivables and Allowance for Doubtful Accounts [Abstract]
Useful life	5 years
Internally Developed Software [Member]
Receivables and Allowance for Doubtful Accounts [Abstract]
Useful life	10 years
Rent-A-Center Business [Member]
Receivables and Allowance for Doubtful Accounts [Abstract]
Goodwill	$ 1,500	1,500
Acima Holdings
Receivables and Allowance for Doubtful Accounts [Abstract]
Goodwill	$ 288,300	$ 288,300

Acquisitions and Divestitures (Details) $ / shares in Units, $ in Thousands			10 Months Ended	12 Months Ended
	Feb. 17, 2021 USD ($) $ / shares shares	Oct. 05, 2020 USD ($) store	Dec. 31, 2021 USD ($)	Dec. 31, 2022 USD ($) store	Dec. 31, 2021 USD ($) store	Dec. 31, 2020 USD ($) store	Dec. 31, 2019 USD ($)
Acquisitions and Divestitures [Line Items]
Goodwill				$ 0	$ 241,774
Proceeds from sale of assets				52	4	$ 14,477
On rent			$ 1,173,024	989,869	1,173,024	762,886
Property, Plant and Equipment, Net			308,098	295,371	308,098
Loss (gain) on sale or disposal of property assets				(6,080)	(353)	(18,215)
Accrued liabilities			362,708	320,624	362,708
Allowance for doubtful accounts			8,479	13,214	8,479	8,047	$ 5,601
Accounts Receivable, before Allowance for Credit Loss			134,857	125,079	134,857
Total revenues				4,245,392	4,583,451	2,814,191
Net earnings				12,357	134,940	208,115
Operating Expenses				1,930,994	1,954,473	1,434,816
Deferred tax asset			68,391	82,886	68,391
Goodwill			289,750	289,750	289,750	70,217
Post purchase price allocation adjustments				0	(22,241)
Royalty income and fees				25,998	27,187	20,015
Pro Forma
Acquisitions and Divestitures [Line Items]
Operating Expenses					16,000	356,800
Rent-A-Center Business [Member]
Acquisitions and Divestitures [Line Items]
Total purchase price				995	278	700
Rental merchandise			248	$ 854	$ 248	$ 523
Number of stores acquired remaining open \| store				1	1	0
Number of stores acquired that were merged with existing stores \| store				4	0	2
Number of transactions \| store				5	1	2
Goodwill				$ 0	$ 0	$ 0
On rent			477,901	465,095	477,901	444,945
Total revenues				1,949,864	2,037,849	1,852,641
Goodwill			1,500	1,500	1,500
Royalty income and fees				0	0	0
Rent-A-Center Business [Member] \| Customer relationships [Member]
Acquisitions and Divestitures [Line Items]
Acquisition amounts allocated to finite-lived intangible assets				$ 141	30	177
CALIFORNIA
Acquisitions and Divestitures [Line Items]
Number of stores in California [Line Items] \| store		99
Proceeds from sale of assets		$ 16,000
On rent		30,000
Property, Plant and Equipment, Net		800
Loss (gain) on sale or disposal of property assets		16,600
Royalty income and fees		$ 1,000
Acima Holdings
Acquisitions and Divestitures [Line Items]
Description of acquired entity	Acima Holdings is a leading platform offering customers virtual lease-to-own solutions at the point-of-sale via web and mobile technology.
Equity interest issued (in shares) \| shares	10,779,923
Total purchase price	$ 1,273,263
Common stock price (in dollars per share) \| $ / shares	$ 51.14
Receivables	$ 25,255
Aggregate purchase price	1,394,192
Prepaid expenses and other assets	700
Rental merchandise	340,575
Right of use operating leases	9,136
Other intangible assets	520,000
Goodwill	219,530
Lease liabilities	(9,689)
Net identifiable assets acquired	$ (1,394,192)
Description of goodwill recognized	which consists of the excess of the net purchase price over the fair value of the net assets acquired. Goodwill represents expected cost and revenue synergies and other benefits expected to result within our retail partner business from the acquisition of Acima Holdings.
Acquisition related expenses	$ 23,900
Business Acquisition, Equity Interest Issued or Issuable, Value Assigned	120,929
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Property, Plant, and Equipment	171,455
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets	1,315,210
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Liabilities, Accounts Payable	16,023
Accrued liabilities	11,716
Business Combination Recognized Identifiable Assets Acquired and Liabilities Assumed, Deferred Tax Assets	(116,410)
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Liabilities	(78,982)
Allowance for doubtful accounts	34,700
Accounts Receivable, before Allowance for Credit Loss	61,600
Business Acquisition, Pro Forma Revenue					4,778,055	4,071,990
Business Acquisition, Pro Forma Net Income (Loss)					178,103	$ 66,352
Total revenues			1,495,746
Net earnings			$ 119,183
Deferred tax asset	28,559
Goodwill	$ 219,500
Acquired intangible assets weighted average useful life	8 years
Weighted average useful life, goodwill	15 years
Post purchase price allocation adjustments					$ (22,200)
Acima Holdings \| Share-Based Payment Arrangement, Employee
Acquisitions and Divestitures [Line Items]
Vesting period of options granted	36 months
Acima Holdings \| Share-Based Payment Arrangement, Nonemployee
Acquisitions and Divestitures [Line Items]
Vesting period of options granted	18 months
Acima Holdings \| Software and Software Development Costs
Acquisitions and Divestitures [Line Items]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Property, Plant, and Equipment	$ 170,000
Acquired intangible assets weighted average useful life	10 years
Acima Holdings \| Share-based Payment Arrangement
Acquisitions and Divestitures [Line Items]
Equity interest issued (in shares) \| shares	2,683,328
Acima Holdings \| Restricted Stock Units (RSUs)
Acquisitions and Divestitures [Line Items]
Equity interest issued (in shares) \| shares	8,096,595
Vesting period of options granted	36 months
Business Acquisition, Equity Interest Issued or Issuable, Value Assigned	$ 414,100
Acima Holdings \| Contract-Based Intangible Assets
Acquisitions and Divestitures [Line Items]
Other intangible assets	$ 380,000
Acquired intangible assets weighted average useful life	10 years
Acima Holdings \| Customer Contracts
Acquisitions and Divestitures [Line Items]
Other intangible assets	$ 60,000
Acquired intangible assets weighted average useful life	1 year
Acima Holdings \| Trade Names
Acquisitions and Divestitures [Line Items]
Other intangible assets	$ 40,000
Acquired intangible assets weighted average useful life	7 years
Acima Holdings \| Non-compete agreements [Member]
Acquisitions and Divestitures [Line Items]
Other intangible assets	$ 40,000
Acquired intangible assets weighted average useful life	3 years

Revenues (Details) - USD ($) $ in Thousands	12 Months Ended
Revenues (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Disaggregation of Revenue [Line Items]
Rentals and fees	$ 3,375,453	$ 3,522,453	$ 2,263,091
Merchandise sales	675,288	829,222	378,717
Installment sales	72,328	73,585	68,500
Other	4,975	4,148	3,845
Total store revenues	4,128,044	4,429,408	2,714,153
Merchandise sales	91,350	126,856	80,023
Royalty income and fees	25,998	27,187	20,015
Total revenues	4,245,392	4,583,451	2,814,191
Rental Purchase Agreement Deferred Revenue	54,900	51,700
Other Deferred Revenue	2,000	2,600
Franchise Fee Deferred Revenue	3,400	4,100
Rent-A-Center Business [Member]
Disaggregation of Revenue [Line Items]
Rentals and fees	1,724,541	1,762,847	1,604,615
Merchandise sales	151,745	199,781	177,223
Installment sales	72,328	73,585	68,500
Other	1,250	1,636	2,303
Total store revenues	1,949,864	2,037,849	1,852,641
Merchandise sales	0	0	0
Royalty income and fees	0	0	0
Total revenues	1,949,864	2,037,849	1,852,641
Mexico [Member]
Disaggregation of Revenue [Line Items]
Rentals and fees	61,204	58,074	47,568
Merchandise sales	3,466	3,275	2,977
Installment sales	0	0	0
Other	210	54	38
Total store revenues	64,880	61,403	50,583
Merchandise sales	0	0	0
Royalty income and fees	0	0	0
Total revenues	64,880	61,403	50,583
Franchising [Member]
Disaggregation of Revenue [Line Items]
Rentals and fees	0	0	0
Merchandise sales	0	0	0
Installment sales	0	0	0
Other	2,980	2,067	778
Total store revenues	2,980	2,067	778
Merchandise sales	91,350	126,856	80,023
Royalty income and fees	25,998	27,187	20,015
Total revenues	120,328	156,110	100,816
Acima Holdings
Disaggregation of Revenue [Line Items]
Rentals and fees	1,589,708	1,701,532	610,908
Merchandise sales	520,077	626,166	198,517
Installment sales	0	0	0
Other	535	391	726
Total store revenues	2,110,320	2,328,089	810,151
Merchandise sales	0	0	0
Royalty income and fees	0	0	0
Total revenues	$ 2,110,320	$ 2,328,089	$ 810,151

Receivables and Allowance for Doubtful Accounts (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Receivables [Line Items]
Proceeds from Interest Received	$ 12,100	$ 12,200	$ 11,500
Accounts Receivable, before Allowance for Credit Loss	125,079	134,857
Accounts Receivable, after Allowance for Credit Loss	111,865	126,378
Changes in allowance for doubtful accounts [Roll Forward]
Allowance for doubtful accounts	(13,214)	(8,479)	(8,047)	$ (5,601)
Bad debt expense	24,658	14,397	14,635
Estimated uncollectible payments and returns			14,636
Accounts written off	(19,923)	(13,965)	$ (12,190)
Installment sales receivable
Receivables [Line Items]
Accounts Receivable, before Allowance for Credit Loss	69,550	66,276
Changes in allowance for doubtful accounts [Roll Forward]
Allowance for doubtful accounts	(12,000)	(7,600)
Trade and notes receivables
Receivables [Line Items]
Accounts Receivable, before Allowance for Credit Loss	55,529	68,581
Changes in allowance for doubtful accounts [Roll Forward]
Allowance for doubtful accounts	(1,200)	(900)
Accrued Revenue	$ 28,700	$ 44,800

Rental Merchandise Rental (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Rental Merchandise [Abstract]
Cost	$ 1,629,394	$ 1,894,247
Less accumulated depreciation	(639,525)	(721,223)
On rent	989,869	1,173,024	$ 762,886
Cost	159,399	155,832
Less accumulated depreciation	(24,440)	(22,848)
Held for rent	$ 134,959	$ 132,984	$ 146,266

Property Assets (Details) - USD ($) $ in Thousands	12 Months Ended
Property Assets (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020	Feb. 17, 2021
Property, Plant and Equipment [Line Items]
Software	$ 479,714	$ 468,011
Building and leasehold improvements	207,613	199,280
Furniture and equipment	158,843	172,418
Transportation equipment	752	549
Construction in progress	25,124	25,293
Total property assets	872,046	865,551
Less accumulated depreciation	(576,675)	(557,453)
Total property assets, net of accumulated depreciation	295,371	308,098
Capitalized software costs included in construction in progress	19,800	21,600
Cost of internally developed software placed in service	$ 20,500	$ 12,300	$ 9,500
Acima Holdings
Property, Plant and Equipment [Line Items]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Property, Plant, and Equipment				$ 171,455
Software and Software Development Costs \| Acima Holdings
Property, Plant and Equipment [Line Items]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Property, Plant, and Equipment				$ 170,000

Leases (Details) - USD ($) $ in Thousands	12 Months Ended
Leases (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Lessee, Lease, Description [Line Items]
Lease, term of contract	5 years
Operating lease charges	$ 117,551	$ 117,713	$ 131,695
Sublease receipts	(7,128)	(11,806)	(9,727)
Variable Lease, Cost	36,200	33,700
Cash paid for amounts included in measurement of operating lease liabilities	104,281	107,588	113,243
Cash paid for short-term operating leases not included in operating lease liabilities	18,639	17,266	22,339
Right-of-use assets obtained in exchange for new operating lease liabilities	$ 99,952	$ 100,779	$ 104,771
Weighted-average discount rate(1)	7.00%	6.00%	6.80%
Weighted-average remaining lease term (in years)	4 years	4 years	4 years
2023	$ 104,613
2024	88,771
2025	70,454
2026	46,036
2027	25,381
Thereafter	16,482
Total undiscounted operating lease liabilities	351,737
Less: Interest	(46,181)
Operating lease liabilities	305,556	$ 296,535
Operating lease cost included in other store expenses(1)(2)
Lessee, Lease, Description [Line Items]
Operating lease charges	124,376	129,217	$ 140,186
Operating lease cost included in other charges
Lessee, Lease, Description [Line Items]
Operating lease charges	$ 303	$ 302	$ 1,236
Minimum
Lessee, Lease, Description [Line Items]
Renewal term	3 years
Maximum
Lessee, Lease, Description [Line Items]
Renewal term	5 years

Goodwill and Other Intangible Assets (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Intangible Assets and Acquisitions [Line Items]
Goodwill	$ 289,750	$ 289,750	$ 70,217
Additions from acquisitions	0	241,774
Post purchase price allocation adjustments	0	(22,241)
Gross carrying amount	616,659	616,518
Accumulated amortization	257,250	191,360
Amortization of intangibles	65,890	102,742	1,070
Finite-Lived Intangible Assets, Net, Amortization Expense, Rolling Maturity [Abstract]
2023	58,017
2024	46,372
2025	44,604
2026	44,604
2027	44,604
Thereafter	121,208
Other intangible assets, net	359,409	425,158
Rent-A-Center Business [Member]
Intangible Assets and Acquisitions [Line Items]
Goodwill	1,500	1,500
Additions from acquisitions	0	0	$ 0
Acima Holdings
Intangible Assets and Acquisitions [Line Items]
Goodwill	$ 288,300	288,300
Customer relationships [Member]
Intangible Assets and Acquisitions [Line Items]
Average life	2 years
Gross carrying amount	$ 140,180	140,039
Accumulated amortization	$ 140,080	132,127
Merchant relationships [Member]
Intangible Assets and Acquisitions [Line Items]
Average life	10 years
Gross carrying amount	$ 389,760	389,760
Accumulated amortization	$ 74,850	35,960
Tradename
Intangible Assets and Acquisitions [Line Items]
Average life	7 years
Gross carrying amount	$ 40,000	40,000
Accumulated amortization	$ 10,680	4,966
Non-compete agreements [Member]
Intangible Assets and Acquisitions [Line Items]
Average life	3 years
Gross carrying amount	$ 46,719	46,719
Accumulated amortization	$ 31,640	$ 18,307

Accrued Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Accrued Liabilities [Abstract]
Accrued insurance costs	$ 87,298	$ 89,621
Deferred revenue	73,953	71,376
Taxes other than income	32,519	49,708
Accrued compensation	22,880	46,750
Accrued dividends	27,428	27,801
Accrued interest payable	24,309	11,993
Income taxes payable	8,034	0
Deferred compensation	8,025	10,349
Accrued legal settlement	7,650	22,500
Accrued other	28,528	32,610
Accrued liabilities	$ 320,624	$ 362,708

Income Taxes (Details) - USD ($) $ in Thousands	12 Months Ended
Income Taxes (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Income Taxes [Abstract]
Domestic	$ 43,977	$ 176,042	$ 212,859
Foreign	17,494	18,262	9,920
Earnings before income taxes	$ 61,471	$ 194,304	$ 222,779
Tax at statutory rate	21.00%	21.00%	21.00%
Stock compensation	53.40%	11.60%	0.00%
State income taxes	13.40%	7.40%	2.80%
Effect of foreign operations	6.60%	2.00%	(0.30%)
Effect of current and prior year credits	(13.20%)	(2.40%)	(0.80%)
Change in unrecognized tax benefits	0.10%	(2.80%)	0.30%
Other permanent differences	0.90%	0.30%	(0.70%)
Prior year return to provision adjustments	1.70%	(0.20%)	1.10%
Benefit of CARES Act	0.00%	0.00%	(7.50%)
Valuation allowance	(3.00%)	(7.10%)	(9.30%)
Other, net	(1.00%)	0.80%	0.00%
Effective income tax rate	79.90%	30.60%	6.60%
Federal	$ 62,878	$ (7,398)	$ 14,354
State	21,473	15,106	4,735
Foreign	4,570	3,690	1,608
Total current	88,921	11,398	20,697
Federal	(25,923)	56,716	12,576
State	(13,321)	(1,205)	(2,956)
Foreign	(563)	(7,545)	(15,653)
Total deferred	(39,807)	47,966	(6,033)
Total income tax expense	49,114	59,364	14,664
Net operating loss carryforwards	27,059	35,834
Accrued liabilities	55,527	48,659
Intangible assets	155,238	165,135
Lease obligations	81,412	73,819
Other assets including credits	8,804	12,157
Foreign tax credit carryforwards	2,991	7,696
Total deferred tax assets	331,031	343,300
Valuation allowance	(3,158)	(7,688)
Deferred tax assets, net	327,873	335,612
Rental merchandise	(236,381)	(288,504)
Property assets	(16,415)	(20,094)
Lease assets	(79,725)	(72,458)
Other liabilities	(452)	(108)
Total deferred tax liabilities	(332,973)	(381,164)
Net deferred taxes	(5,100)	(45,552)
Operating Loss Carryforwards [Line Items]
Tax benefits, if recognized, affect annual effective tax rate	1,400
Tax credit carryforward	8,300
Income taxes refunded	725	1,571	32,318
Interest expense related to unrecognized tax benefits	300
Unrecognized tax benefit balance	5,100	6,536	22,184	$ 24,208
Additions (reductions) based on tax positions related to current year	(474)
Additions (reductions) based on tax positions related to current year		461	1,204
Additions for tax positions of prior years	21	4,119	45
Reductions for tax positions of prior years	(983)	(3,006)	(2,086)
Settlements	0	$ (17,222)	$ (1,187)
Accrued for payment of interest related to unrecognized tax benefits	300
State [Member]
Operating Loss Carryforwards [Line Items]
Net operating loss carryforwards	194,000
Foreign [Member]
Operating Loss Carryforwards [Line Items]
Net operating loss carryforwards	58,000
Domestic Tax Authority
Operating Loss Carryforwards [Line Items]
Net operating loss carryforwards	$ 0

Senior Debt (Details)			3 Months Ended	12 Months Ended
Senior Debt (Details)	Sep. 21, 2021 USD ($)	Feb. 17, 2021 USD ($)	Dec. 31, 2022 USD ($)	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)	Dec. 31, 2020 USD ($)
Debt Instrument [Line Items]
Original issue discount		$ 4,400,000
Debt issuance costs	$ 1,500,000	30,200,000
Unamortized debt issuance expense			$ (18,786,000)	$ (18,786,000)	$ (23,231,000)
Letters of credit, amount outstanding			64,400,000	64,400,000	86,400,000
Senior debt, net			930,902,000	930,902,000	1,135,207,000
Debt and Lease Obligation			949,688,000	$ 949,688,000
Line of credit commitment fee percentage				0.375%
Line of credit commitment fee			3,000,000
Other charges				$ 235,283,000	289,913,000	$ 36,555,000
Debt refinancing charges	1,400,000			0	15,582,000	0
Write-off of debt financing fees	5,400,000			0	9,926,000	$ 0
2023			8,750,000	8,750,000
2024			8,750,000	8,750,000
2025			8,750,000	8,750,000
2026			98,750,000	98,750,000
2027			8,750,000	8,750,000
Thereafter			815,938,000	815,938,000
Debt Issuance Costs [Member]
Debt Instrument [Line Items]
Unamortized debt issuance expense	$ (100,000)	(25,300,000)	(16,400,000)	(16,400,000)
Other charges				4,900,000
Original Issue Discount [Member]
Debt Instrument [Line Items]
Unamortized debt issuance expense			(2,400,000)	$ (2,400,000)
Minimum
Debt Instrument [Line Items]
Line of credit commitment fee percentage				0.25%
Maximum
Debt Instrument [Line Items]
Line of credit commitment fee percentage				0.375%
Term loan
Debt Instrument [Line Items]
Maximum borrowing capacity			875,000,000	$ 875,000,000	875,000,000
Maturity date				Feb. 17, 2028
Debt and Lease Obligation			$ 859,688,000	$ 859,688,000	868,438,000
Long-term Debt, Gross		875,000,000
Frequency of periodic payment				quarterly
Periodic Payment, Percent				1.00%
Actual margin on variable rate			7.69%	7.69%
Debt Instrument, Unused Borrowing Capacity, Fee				$ 0	0
2023			$ 8,750,000	8,750,000
2024			8,750,000	8,750,000
2025			8,750,000	8,750,000
2026			8,750,000	8,750,000
2027			8,750,000	8,750,000
Thereafter			815,938,000	$ 815,938,000
Term loan \| Eurodollar
Debt Instrument [Line Items]
Decrease to basis spread on variable rate	0.0075
Basis margin on variable rate				3.25%
Term loan \| Eurodollar \| Minimum
Debt Instrument [Line Items]
Basis margin on variable rate				3.25%
Term loan \| Eurodollar \| Maximum
Debt Instrument [Line Items]
Basis margin on variable rate				4.00%
Term loan \| LIBOR
Debt Instrument [Line Items]
Decrease to basis spread on variable rate	0.0025
Basis margin on variable rate				0.50%
Term loan \| LIBOR \| Minimum
Debt Instrument [Line Items]
Basis margin on variable rate				0.50%
Term loan \| LIBOR \| Maximum
Debt Instrument [Line Items]
Basis margin on variable rate				0.75%
Revolving Credit Facility
Debt Instrument [Line Items]
ABL credit facility availability			395,600,000	$ 395,600,000
Maximum borrowing capacity			550,000,000	$ 550,000,000	550,000,000
Maturity date				Feb. 17, 2026
Debt and Lease Obligation			$ 90,000,000	$ 90,000,000	290,000,000
Required minimum consolidated fixed charge coverage ratio			1.10	1.10
Actual fixed charge coverage ratio			1.17	1.17
Line of Credit Facility, Current Borrowing Capacity		$ 550,000,000
Actual margin on variable rate			5.82%	5.82%
Debt Instrument, Unused Borrowing Capacity, Fee				$ 395,621,000	173,616,000
2023			$ 0	0
2024			0	0
2025			0	0
2026			90,000,000	90,000,000
2027			0	0
Thereafter			0	$ 0
Revolving Credit Facility \| Eurodollar \| Minimum
Debt Instrument [Line Items]
Basis margin on variable rate				1.50%
Revolving Credit Facility \| Eurodollar \| Maximum
Debt Instrument [Line Items]
Basis margin on variable rate				2.00%
Term Loan and Revolving Credit Facility
Debt Instrument [Line Items]
Maximum borrowing capacity			1,425,000,000	$ 1,425,000,000	1,425,000,000
Debt and Lease Obligation			949,688,000	949,688,000	1,158,438,000
Debt Instrument, Unused Borrowing Capacity, Fee				395,621,000	173,616,000
Prior Senior Loan
Debt Instrument [Line Items]
Debt and Lease Obligation					$ 197,500,000
Term Loan Facility \| Secured Debt
Debt Instrument [Line Items]
Debt instrument, term		7 years
Amount available		$ 500,000,000
ABL Credit Facility \| Revolving Credit Facility
Debt Instrument [Line Items]
Debt instrument, term		5 years
Additional borrowing capacity available		$ 125,000,000
Covenant compliance, maximum remaining borrowing capacity			$ 56,250,000	$ 56,250,000
Covenant compliance, maximum remaining borrowing capacity percent			0.15	0.15
ABL Credit Facility \| Letter of Credit
Debt Instrument [Line Items]
Maximum borrowing capacity		$ 150,000,000

Senior Notes (Details) - USD ($) $ in Thousands	12 Months Ended
Senior Notes (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021	Feb. 17, 2021
Debt Instrument [Line Items]
Unamortized debt issuance expense	$ 18,786	$ 23,231
Senior Notes
Debt Instrument [Line Items]
Initial borrowing in senior notes			$ 450,000
Interest rate, stated percentage			6.375%
Unamortized debt issuance expense	$ 12,000		$ 15,700
Redemption price, percentage	106.375%
Senior Notes \| The Notes
Debt Instrument [Line Items]
Senior note redemption price, percent	40.00%
Additional percentage of principal amount redeemed	1
Percentage of principal amount purchased	1.01

Commitments and Contingencies (Details) - USD ($) $ in Millions		1 Months Ended
	Aug. 02, 2022	Aug. 31, 2022	Feb. 17, 2024	Oct. 01, 2020
California Attorney General
Loss Contingencies [Line Items]
Damages sought	$ 15.5
Damages paid		$ 15.5
Indemnification Agreement
Loss Contingencies [Line Items]
Escrowed indemnity amount				$ 50.0
Indemnification Agreement \| Forecast
Loss Contingencies [Line Items]
Escrowed indemnity amount to be released			$ 45.0

Other Charges and (Gains) (Details) - USD ($) $ in Thousands		12 Months Ended
	Feb. 17, 2021	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Restructuring Cost and Reserve [Line Items]
Restructuring cash charges		$ 5,576	$ 28,661
Restructuring Reserve		2,202	1,593	$ 5,349
Restructuring payments		4,967	32,417
Acima Holdings restricted stock agreements(3)		159,358	147,554	12,284
Depreciation and amortization of acquired assets(4)		53,079	54,830	56,658
Other charges		235,283	289,913	36,555
Depreciation for property assets		67,981	67,091	55,597
Acima Holdings
Restructuring Cost and Reserve [Line Items]
Restructuring cash charges		1,500
Equity interest issued (in shares)	10,779,923
Business Acquisition, Equity Interest Issued or Issuable, Value Assigned	$ 120,929
Other intangible assets	520,000
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Property, Plant, and Equipment	171,455
Amortization		64,900	101,700
Acima Holdings restricted stock agreements(3)		143,200	127,100
Depreciation for property assets		15,900	13,200
Acima Holdings \| Software and Software Development Costs
Restructuring Cost and Reserve [Line Items]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Property, Plant, and Equipment	$ 170,000
Acima Holdings \| Restricted Stock Units (RSUs)
Restructuring Cost and Reserve [Line Items]
Vesting period of options granted	36 months
Equity interest issued (in shares)	8,096,595
Business Acquisition, Equity Interest Issued or Issuable, Value Assigned	$ 414,100
Legal settlement reserves [Member]
Restructuring Cost and Reserve [Line Items]
Other		17,500
State tax audit assessments [Member]
Restructuring Cost and Reserve [Line Items]
Other		200
Acima Holdings transaction costs
Restructuring Cost and Reserve [Line Items]
Restructuring cash charges		187	17,680
Restructuring Reserve		0	0	5,005
Restructuring payments		187	22,685
Acima Holdings transaction costs \| Acima Holdings
Restructuring Cost and Reserve [Line Items]
Restructuring cash charges		200	17,700
Acima Holdings integration costs
Restructuring Cost and Reserve [Line Items]
Restructuring cash charges		0	6,572
Restructuring Reserve		0	0	0
Restructuring payments		0	6,572
Acima Holdings integration costs \| Acima Holdings
Restructuring Cost and Reserve [Line Items]
Restructuring cash charges		10,300
Labor reduction costs(1)
Restructuring Cost and Reserve [Line Items]
Restructuring cash charges		4,983	3,751
Restructuring Reserve		2,202	1,593	344
Restructuring payments		4,374	2,502
Labor reduction costs(1) \| Acima Holdings
Restructuring Cost and Reserve [Line Items]
Restructuring cash charges		3,700
Other cash charges(2)
Restructuring Cost and Reserve [Line Items]
Restructuring cash charges		406	658
Restructuring Reserve		0	0	$ 0
Restructuring payments		406	658
Inventory Valuation and Obsolescence \| Acima Holdings
Restructuring Cost and Reserve [Line Items]
Restructuring cash charges		5,100
Non-Cash Charges [Member]
Restructuring Cost and Reserve [Line Items]
Other		(1,059)	17,661
Acima Holdings restricted stock agreements(3)		143,210	127,060
Depreciation and amortization of acquired assets(4)		80,792	114,959
Asset impairments(5)		$ 6,764	$ 1,572

Stock-Based Compensation (Details) - USD ($)		12 Months Ended
Stock-Based Compensation (Details) - USD ($)	Feb. 17, 2021	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock options outstanding		854,339	1,121,489
Exercise period of options once vested		10 years
Stock-based compensation expense		$ 159,358,000	$ 147,554,000	$ 12,284,000
Tax benefit recognized in the statements of earnings		3,391,000	4,304,000	3,062,000
Share-based compensation expense, net of tax		$ 155,967,000	$ 143,250,000	9,222,000
Stock options granted		0
Exercise of stock options, shares		(108,701)
Stock options forfeited		(97,930)
Stock options expired		(60,519)
Stock options outstanding, weighted average exercise price		$ 22.29	$ 22.68
Stock options granted, weighted average exercise price		0
Stock options exercised, weighted average exercise price		16.43
Stock options forfeited, weighted average exercise price		28.64
Stock options expired, weighted average exercise price		$ 29.80
Stock options outstanding, weighted average remaining contractual life		5 years 4 months 13 days
Stock options outstanding, aggregate intrinsic value		$ 3,594,000
Stock options exercisable		610,844
Stock options exercisable, weighted average exercise price		$ 19.82
Stock options exercisable, weighted average remaining contractual life		19 years 9 months 25 days
Stock options exercisable, aggregate intrinsic value		$ 3,453,000
Stock options exercised, intrinsic value		1,400,000	$ 14,300,000	5,800,000
Tax benefits from exercise of stock options		$ 500,000	$ 5,000,000	$ 2,000,000
Weighted average grant date fair value			$ 14.94	$ 7.28
Weighted average risk free interest rate			0.49%	0.93%
Weighted average expected dividend yield			2.87%	4.75%
Weighted average expected volatility			50.29%	49.44%
Weighted average expected life (in years)			4 years 7 months 13 days	4 years 7 months 13 days
Restricted share units outstanding		5,177,485	9,209,257
Restricted share units granted		1,224,764
Restricted share units vested		(4,711,403)
Restricted share units forfeited		(545,133)
Restricted share units outstanding, weighted average exercise price		$ 46.63	$ 50.33
Restricted share units granted, weighted average exercise price		25.50
Restricted share units vested, weighted average exercise price		48.99
Restricted share units forfeited, weighted average exercise price		$ 41.41
Restricted Stock Units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted share units vested		(4,180,193)
Acima Holdings
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense		$ 143,200,000	$ 127,100,000
Equity interest issued (in shares)	10,779,923
Common stock price (in dollars per share)	$ 51.14
Business Acquisition, Equity Interest Issued or Issuable, Value Assigned	$ 120,929,000
Acima Holdings \| Share-based Payment Arrangement
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Equity interest issued (in shares)	2,683,328
Acima Holdings \| Restricted Stock Units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period of options granted	36 months
Equity interest issued (in shares)	8,096,595
Restricted share units outstanding		3,691,328	7,898,706
Business Acquisition, Equity Interest Issued or Issuable, Value Assigned	$ 414,100,000
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Nonvested Options Forfeited, Number of Shares		27,185
2016 Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock options outstanding		1,226,875	2,184,396
2021 Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares authorized to issue		5,000,000
Maximum number of shares per employee (in shares)		800,000
Stock options outstanding		1,002,638	100,822
2006 Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock options outstanding		63,156	83,757
Equity Incentive Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock options outstanding		47,827	63,065
Minimum
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
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
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense		$ 1,327,000	$ 2,001,000	$ 1,878,000
Unvested awards - to result in compensation expense		$ 1,300,000
Weighted average number of years to vesting		1 year 6 months 7 days
Restricted Stock Units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period of options granted		3 years
Stock-based compensation expense		$ 158,031,000	$ 145,553,000	$ 10,406,000
Unvested awards - to result in compensation expense		$ 169,200,000
Weighted average number of years to vesting		1 year 2 months 26 days

Deferred Compensation Plan (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
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%
Deferred compensation arrangement with individual, requisite service period	2 years
Contributions by Employer under Deferred Compensation Plan	$ 120	$ 170	$ 160
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	8,025	10,349
Deferred Compensation Plan Assets	$ 8,000	$ 10,400

401(k) Plan (Details) - USD ($) $ in Millions	12 Months Ended
401(k) Plan (Details) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
401(k) Plan [Abstract]
Employee service requirement, minimum	3 months
Vesting schedule	2 years
Maximum contribution % of eligible pre-tax compensation allowed to participants of defined contribution plan	50.00%
Employer match	$ 6.0	$ 6.4	$ 5.5
Employer match, percent	50.00%
Employer match, percent of employees' compensation	6.00%
Percent of company stock purchased	3.70%	6.90%

Fair Value (Details) - Senior Notes $ in Thousands	Dec. 31, 2022 USD ($)
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Initial borrowing in senior notes	$ 450,000
Debt Instrument, Fair Value Disclosure	365,040
Amount Of Difference Between Fair Value And Carrying Value	$ (84,960)

Stock Repurchase Plan (Details) - USD ($) $ in Thousands	12 Months Ended
Stock Repurchase Plan (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Repurchase Program
Common stock repurchased, shares		1,463,377
Purchase of treasury stock	$ 75,052	$ 390,112	$ 26,586
Share Repurchase 250 million
Repurchase Program
Authorized common stock repurchase amount	$ 250,000
Common stock repurchased, shares	5,069,108
Purchase of treasury stock		$ 26,600
Share Repurchase 500 million
Repurchase Program
Authorized common stock repurchase amount	$ 500,000
Common stock repurchased, shares	3,536,799	2,829,700
Purchase of treasury stock	$ 285,000	$ 140,000

Segment Information (Details) $ in Thousands	10 Months Ended	12 Months Ended
Segment Information (Details) $ in Thousands	Dec. 31, 2021 USD ($)	Dec. 31, 2022 USD ($) segment store	Dec. 31, 2021 USD ($)	Dec. 31, 2020 USD ($)
Segment Reporting Information [Line Items]
Number of operating segments \| segment		4
Number of retail installment sales stores \| store		48
Royalty Fee Percentage Minimum		2.00%
Royalty Fee Percentage Maximum		6.00%
Total revenues		$ 4,245,392	$ 4,583,451	$ 2,814,191
Gross profit		2,079,532	2,235,012	1,672,152
Operating profit		148,538	280,539	237,336
Depreciation, Amortization and Write-down of Intangibles		53,079	54,830	56,658
Capital expenditures		61,387	62,450	34,545
On rent	$ 1,173,024	989,869	1,173,024	762,886
Held for rent	132,984	134,959	132,984	146,266
Assets	2,993,327	2,763,619	2,993,327	1,750,980
Rentals and fees		3,375,453	3,522,453	2,263,091
Depreciation for property assets		67,981	67,091	55,597
Stock-based compensation expense		159,358	147,554	12,284
Acima Holdings
Segment Reporting Information [Line Items]
Total revenues	1,495,746
Amortization		64,900	101,700
Depreciation for property assets		15,900	13,200
Stock-based compensation expense		143,200	127,100
Furniture and accessories
Segment Reporting Information [Line Items]
Rentals and fees		1,323,437	1,542,003	1,028,876
Consumer electronics
Segment Reporting Information [Line Items]
Rentals and fees		482,959	435,004	358,931
Appliances
Segment Reporting Information [Line Items]
Rentals and fees		439,309	426,316	322,261
Wheels and tires
Segment Reporting Information [Line Items]
Rentals and fees		308,618	280,132	0
Computers
Segment Reporting Information [Line Items]
Rentals and fees		129,577	155,313	119,015
Jewelry
Segment Reporting Information [Line Items]
Rentals and fees		194,123	146,477	0
Smartphones
Segment Reporting Information [Line Items]
Rentals and fees		52,803	61,058	59,205
Other products and services
Segment Reporting Information [Line Items]
Rentals and fees		444,627	476,150	374,803
Rent-A-Center Business [Member]
Segment Reporting Information [Line Items]
Total revenues		1,949,864	2,037,849	1,852,641
Gross profit		1,372,863	1,433,536	1,294,695
Operating profit		334,525	448,905	333,379
Depreciation, Amortization and Write-down of Intangibles		20,526	18,588	19,912
Capital expenditures		36,682	23,139	14,869
On rent	477,901	465,095	477,901	444,945
Held for rent	123,111	124,117	123,111	136,219
Assets	1,026,886	1,067,875	1,026,886	999,252
Rentals and fees		1,724,541	1,762,847	1,604,615
Mexico [Member]
Segment Reporting Information [Line Items]
Total revenues		64,880	61,403	50,583
Gross profit		45,812	43,117	35,665
Operating profit		6,267	7,858	5,798
Depreciation, Amortization and Write-down of Intangibles		711	511	413
Capital expenditures		1,590	1,032	392
On rent	18,844	20,979	18,844	18,281
Held for rent	9,247	10,469	9,247	7,819
Assets	41,669	51,225	41,669	42,278
Rentals and fees		61,204	58,074	47,568
Franchising [Member]
Segment Reporting Information [Line Items]
Total revenues		120,328	156,110	100,816
Gross profit		28,613	29,507	20,682
Operating profit		19,124	20,321	12,570
Depreciation, Amortization and Write-down of Intangibles		146	93	40
Capital expenditures		332	0	0
Assets	15,412	18,194	15,412	14,729
Rentals and fees		0	0	0
Acima Holdings
Segment Reporting Information [Line Items]
Total revenues		2,110,320	2,328,089	810,151
Operating profit		151,301	176,496	57,847
Depreciation, Amortization and Write-down of Intangibles		1,928	2,122	2,066
Capital expenditures		244	1,045	161
On rent	676,279	503,795	676,279	299,660
Held for rent	626	373	626	2,228
Assets	1,476,752	1,198,879	1,476,752	389,650
Rentals and fees		1,589,708	1,701,532	610,908
Acima [Member]
Segment Reporting Information [Line Items]
Total revenues		2,110,320	2,328,089	810,151
Gross profit		632,244	728,852	321,110
Operating Segments [Member]
Segment Reporting Information [Line Items]
Operating profit		511,217	653,580	409,594
Depreciation, Amortization and Write-down of Intangibles		23,311	21,314	22,431
Capital expenditures		38,848	25,216	15,422
Assets	2,560,719	2,336,173	2,560,719	1,445,909
Corporate, Non-Segment [Member]
Segment Reporting Information [Line Items]
Operating profit		(362,679)	(373,041)	(172,258)
Depreciation, Amortization and Write-down of Intangibles		29,768	33,516	34,227
Capital expenditures		22,539	37,234	19,123
Assets	432,608	427,446	432,608	305,071
United States [Member]
Segment Reporting Information [Line Items]
Total revenues		4,180,512	4,522,048	2,763,608
Assets	2,951,658	2,712,394	2,951,658	1,708,702
Mexico [Member]
Segment Reporting Information [Line Items]
Total revenues		64,880	61,403	50,583
Assets	$ 41,669	$ 51,225	$ 41,669	$ 42,278

Earnings Per Common Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Net earnings	$ 12,357	$ 134,940	$ 208,115
Weighted-average shares outstanding	53,850	57,053	54,187
Effect of dilutive stock awards	5,116	9,786	1,567
Weighted-average dilutive shares	58,966	66,839	55,754
Basic earnings per common share	$ 0.23	$ 2.37	$ 3.84
Diluted earnings per common share	$ 0.21	$ 2.02	$ 3.73
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	80	32	1
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	197	107	3
Stock options
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-dilutive securities excluded from diluted earnings per common share	448	295	949