$UPBD
UPBOUND GROUP, INC.

2014 Q4 Form 10-Q Financial Statement

#000093303614000033 Filed on October 24, 2014

View on sec.gov

Income Statement

Concept 2014 Q4 2014 Q3 2013 Q3
Revenue $781.3M $764.4M $754.8M
YoY Change 2.88% 1.27% 2.09%
Cost Of Revenue $235.8M $224.6M $225.4M
YoY Change 8.86% -0.37% 2.49%
Gross Profit $545.6M $539.8M $529.3M
YoY Change 0.5% 1.97% 1.92%
Gross Profit Margin 69.83% 70.62% 70.13%
Selling, General & Admin $29.80M $466.2M $472.9M
YoY Change -10.78% -1.42% 5.37%
% of Gross Profit 5.46% 86.37% 89.34%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $20.70M $18.54M $19.42M
YoY Change -3.72% -4.56% 5.48%
% of Gross Profit 3.79% 3.43% 3.67%
Operating Expenses $496.8M $493.8M $473.6M
YoY Change -2.13% 4.28% 4.95%
Operating Profit $48.80M $45.92M $55.77M
YoY Change 38.24% -17.67% -18.12%
Interest Expense -$12.40M $11.98M $10.92M
YoY Change 15.89% 9.76% 34.83%
% of Operating Profit -25.41% 26.09% 19.57%
Other Income/Expense, Net -$2.300M $0.00 $0.00
YoY Change
Pretax Income $34.10M $34.14M $45.04M
YoY Change 39.18% -24.2% -25.16%
Income Tax $9.300M $8.214M $17.88M
% Of Pretax Income 27.27% 24.06% 39.69%
Net Earnings $24.70M $25.93M $27.17M
YoY Change 81.62% -4.56% -31.93%
Net Earnings / Revenue 3.16% 3.39% 3.6%
Basic Earnings Per Share $0.49 $0.51
Diluted Earnings Per Share $463.4K $0.49 $0.50
COMMON SHARES
Basic Shares Outstanding 52.90M shares 52.86M shares 53.44M shares
Diluted Shares Outstanding 53.11M shares 53.81M shares

Balance Sheet

Concept 2014 Q4 2014 Q3 2013 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $46.10M $62.00M $52.90M
YoY Change 8.98% 17.2% -35.33%
Cash & Equivalents $46.13M $61.96M $52.86M
Short-Term Investments
Other Short-Term Assets $206.2M $85.60M $73.90M
YoY Change 162.68% 15.83% 2.78%
Inventory $1.238B $1.134B $1.072B
Prepaid Expenses
Receivables $65.50M $68.20M $48.50M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $1.556B $1.350B $1.247B
YoY Change 19.28% 8.2% 529.95%
LONG-TERM ASSETS
Property, Plant & Equipment $332.7M $331.7M $324.6M
YoY Change -1.12% 2.18% 8.05%
Goodwill $1.370B $1.366B $1.354B
YoY Change 0.43% 0.92% 0.95%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets
YoY Change
Total Long-Term Assets $1.715B $1.710B $1.690B
YoY Change 0.09% 1.16% -35.05%
TOTAL ASSETS
Total Short-Term Assets $1.556B $1.350B $1.247B
Total Long-Term Assets $1.715B $1.710B $1.690B
Total Assets $3.271B $3.059B $2.937B
YoY Change 8.38% 4.15% 4.91%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $141.9M $116.8M $124.3M
YoY Change 17.86% -6.03% -12.83%
Accrued Expenses $351.8M $323.9M $306.7M
YoY Change 7.55% 5.61% 0.07%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $493.7M $440.7M $431.0M
YoY Change 10.32% 2.25% -4.03%
LONG-TERM LIABILITIES
Long-Term Debt $1.043B $975.1M $834.6M
YoY Change 13.81% 16.83% 40.67%
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $1.043B $975.1M $834.6M
YoY Change 13.81% 16.83% 40.67%
TOTAL LIABILITIES
Total Short-Term Liabilities $493.7M $440.7M $431.0M
Total Long-Term Liabilities $1.043B $975.1M $834.6M
Total Liabilities $1.882B $1.674B $1.590B
YoY Change 11.86% 5.32% 18.7%
SHAREHOLDERS EQUITY
Retained Earnings $1.927B $1.923B $1.894B
YoY Change 2.51% 1.55% 6.58%
Common Stock $814.3M $810.8M $760.9M
YoY Change 1.38% 6.55% -2.42%
Preferred Stock
YoY Change
Treasury Stock (at cost) $1.348B $1.348B $1.308B
YoY Change 0.0% 3.06% 19.04%
Treasury Stock Shares 56.37M shares 56.37M shares 55.55M shares
Shareholders Equity $1.389B $1.385B $1.348B
YoY Change
Total Liabilities & Shareholders Equity $3.271B $3.059B $2.937B
YoY Change 8.38% 4.15% 4.91%

Cashflow Statement

Concept 2014 Q4 2014 Q3 2013 Q3
OPERATING ACTIVITIES
Net Income $24.70M $25.93M $27.17M
YoY Change 81.62% -4.56% -31.93%
Depreciation, Depletion And Amortization $20.70M $18.54M $19.42M
YoY Change -3.72% -4.56% 5.48%
Cash From Operating Activities -$44.20M -$5.700M $57.40M
YoY Change 14.51% -109.93% -41.19%
INVESTING ACTIVITIES
Capital Expenditures -$22.10M -$20.20M -$29.00M
YoY Change -36.13% -30.34% 16.94%
Acquisitions
YoY Change
Other Investing Activities -$6.400M -$300.0K -$7.200M
YoY Change -29.67% -95.83% 7100.0%
Cash From Investing Activities -$28.50M -$20.60M -$36.20M
YoY Change -34.63% -43.09% 45.38%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 57.90M 20.60M -47.00M
YoY Change -19.47% -143.83% -49.13%
NET CHANGE
Cash From Operating Activities -44.20M -5.700M 57.40M
Cash From Investing Activities -28.50M -20.60M -36.20M
Cash From Financing Activities 57.90M 20.60M -47.00M
Net Change In Cash -14.80M -5.700M -25.80M
YoY Change 43.69% -77.91% 30.96%
FREE CASH FLOW
Cash From Operating Activities -$44.20M -$5.700M $57.40M
Capital Expenditures -$22.10M -$20.20M -$29.00M
Free Cash Flow -$22.10M $14.50M $86.40M
YoY Change 452.5% -83.22% -29.41%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
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us-gaap Debt Instrument Interest Rate Terms
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us-gaap Description Of New Accounting Pronouncements Not Yet Adopted
DescriptionOfNewAccountingPronouncementsNotYetAdopted
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-top:8px;text-align:justify;padding-left:18px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;"></font><font style="font-family:inherit;font-size:10pt;">In July 2013, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") 2013-11, </font><font style="font-family:inherit;font-size:10pt;font-style:italic;">Presentation of Unrecognized Tax Benefit When a Net Operating Loss Carryforward, a Similar Tax Loss, or a Tax Credit Carryforward Exists, </font><font style="font-family:inherit;font-size:10pt;">an amendment to FASB Accounting Standards Codification Topic 740, </font><font style="font-family:inherit;font-size:10pt;font-style:italic;">Income Taxes</font><font style="font-family:inherit;font-size:10pt;">. This update clarifies that an unrecognized tax benefit, or a portion of an unrecognized tax benefit, should be presented in the financial statements as a reduction to a deferred tax asset for a net operating loss carryforward, a similar tax loss, or a tax credit carryforward if such settlement is required or expected in the event the uncertain tax position is disallowed. In situations where a net operating loss carryforward, a similar tax loss, or a tax credit carryforward is not available at the reporting date under the tax law of the applicable jurisdiction or the tax law of the jurisdiction does not require, and the entity does not intend to use the deferred tax asset for such purpose, the unrecognized tax benefit should be presented in the financial statements as a liability and should not be combined with deferred tax assets. This ASU is effective prospectively for fiscal years, and interim periods within those years, beginning after December 15, 2013. We adopted this standard prospectively effective January 1, 2014, and it did not have a material impact on our consolidated statement of earnings, financial condition, statement of cash flows or earnings per share.</font></div><div style="line-height:120%;padding-bottom:8px;padding-top:8px;text-align:justify;padding-left:18px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">In May 2014, the FASB issued ASU 2014-09,</font><font style="font-family:inherit;font-size:10pt;font-style:italic;"> Revenue from Contracts with Customers (Topic 606)</font><font style="font-family:inherit;font-size:10pt;">, which clarifies existing accounting literature relating to how and when a company recognizes revenue. Under ASU 2014-09, a company will recognize revenue when it transfers promised goods or services to customers in an amount that reflects the consideration to which the company expects to be entitled in exchange for those goods and services. ASU 2014-09 will be effective for Rent-A-Center beginning January 1, 2017, and early adoption is not permitted. The ASU allows adoption with either retrospective application to each prior period presented, or retrospective application with the cumulative effect recognized as of the date of initial application. We are currently in the process of determining what impact, if any, the adoption of this ASU will have on our financial position, results of operations and cash flows, and we are evaluating the transition alternatives.</font></div><div style="line-height:120%;padding-top:8px;text-align:justify;padding-left:18px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">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. Unless otherwise discussed, we believe the impact of any other 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.</font></div></div>
us-gaap Disclosure Of Change Of Date For Annual Goodwill Impairment Test
DisclosureOfChangeOfDateForAnnualGoodwillImpairmentTest
During the three months ended September 30, 2014, the Company changed its annual impairment testing date from December 31 to October 1. The Company believes this new date is preferable because it allows for more timely completion of the annual goodwill impairment test prior to the end of our annual financial reporting period. This change in accounting principle does not delay, accelerate or avoid an impairment charge. The Company has determined that it will be impracticable to objectively determine projected cash flows and related valuation estimates that would have been used as of each October 1 of prior reporting periods without the use of hindsight. As such, the Company will apply the change in annual goodwill impairment testing date prospectively beginning October 1, 2014.
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36606000 USD
us-gaap Increase Decrease In Accounts Payable Trade
IncreaseDecreaseInAccountsPayableTrade
-3407000 USD
us-gaap Increase Decrease In Accounts Payable Trade
IncreaseDecreaseInAccountsPayableTrade
24689000 USD
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
9985000 USD
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
20307000 USD
us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
-5213000 USD
us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
7502000 USD
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
4670000 USD
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
11017000 USD
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
377000 shares
CY2014Q3 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
250000 shares
CY2013Q3 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
374000 shares
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
241000 shares
CY2014Q3 us-gaap Interest Expense
InterestExpense
11981000 USD
CY2013Q3 us-gaap Interest Expense
InterestExpense
10916000 USD
us-gaap Interest Expense
InterestExpense
35178000 USD
us-gaap Interest Expense
InterestExpense
28773000 USD
us-gaap Investment Income Interest
InvestmentIncomeInterest
681000 USD
CY2013Q3 us-gaap Investment Income Interest
InvestmentIncomeInterest
183000 USD
CY2014Q3 us-gaap Investment Income Interest
InvestmentIncomeInterest
200000 USD
us-gaap Investment Income Interest
InvestmentIncomeInterest
659000 USD
CY2014Q3 us-gaap Letters Of Credit Outstanding Amount
LettersOfCreditOutstandingAmount
104700000 USD
CY2014Q3 us-gaap Liabilities
Liabilities
1674167000 USD
us-gaap Loss Contingency Disclosures
LossContingencyDisclosures
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;">Contingencies.</font></div><div style="line-height:120%;padding-top:8px;text-align:justify;padding-left:18px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">From time to time, we, along with our subsidiaries, are party to various legal proceedings arising in the ordinary course of business. We reserve for loss contingencies that are both probable and reasonably estimable. We regularly monitor developments related to these legal proceedings, and review the adequacy of our legal reserves on a quarterly basis. We do not expect these losses to have a material impact on our consolidated financial statements if and when such losses are incurred.</font></div><div style="line-height:120%;padding-top:8px;text-align:justify;padding-left:18px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">We are subject to unclaimed property audits by states in the ordinary course of business. A comprehensive multi-state unclaimed property audit is currently in progress. The property subject to review in this 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 in compliance with applicable escheat laws. Management believes it is too early to determine the ultimate outcome of this audit, as the Company&#8217;s remediation efforts are still in process.</font></div></div>
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-94952000 USD
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
25038000 USD
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-85970000 USD
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-68218000 USD
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
172909000 USD
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
63263000 USD
CY2014Q3 us-gaap Net Income Loss
NetIncomeLoss
25306000 USD
CY2013Q3 us-gaap Net Income Loss
NetIncomeLoss
27165000 USD
us-gaap Net Income Loss
NetIncomeLoss
71696000 USD
us-gaap Net Income Loss
NetIncomeLoss
115174000 USD
us-gaap Net Income Loss Attributable To Parent Diluted
NetIncomeLossAttributableToParentDiluted
115174000 USD
CY2014Q3 us-gaap Net Income Loss Attributable To Parent Diluted
NetIncomeLossAttributableToParentDiluted
25306000 USD
CY2013Q3 us-gaap Net Income Loss Attributable To Parent Diluted
NetIncomeLossAttributableToParentDiluted
27165000 USD
us-gaap Net Income Loss Attributable To Parent Diluted
NetIncomeLossAttributableToParentDiluted
71696000 USD
CY2013Q3 us-gaap Operating Expenses
OperatingExpenses
473559000 USD
us-gaap Operating Expenses
OperatingExpenses
1494068000 USD
CY2014Q3 us-gaap Operating Expenses
OperatingExpenses
494616000 USD
us-gaap Operating Expenses
OperatingExpenses
1398843000 USD
CY2014Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
44823000 USD
us-gaap Operating Income Loss
OperatingIncomeLoss
144745000 USD
us-gaap Operating Income Loss
OperatingIncomeLoss
211787000 USD
CY2013Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
55773000 USD
CY2014Q3 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
-1372000 USD
CY2013Q3 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
41000 USD
us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
-1201000 USD
us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
-1330000 USD
CY2013Q3 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
41000 USD
us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
-1330000 USD
CY2014Q3 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
-1372000 USD
us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
-1201000 USD
us-gaap Other Sales Revenue Net
OtherSalesRevenueNet
14244000 USD
CY2014Q3 us-gaap Other Sales Revenue Net
OtherSalesRevenueNet
6384000 USD
us-gaap Other Sales Revenue Net
OtherSalesRevenueNet
14376000 USD
us-gaap Restructuring Charges
RestructuringCharges
4800000 USD
CY2013Q3 us-gaap Other Sales Revenue Net
OtherSalesRevenueNet
4483000 USD
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
0 USD
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
217419000 USD
us-gaap Payments Of Dividends
PaymentsOfDividends
36479000 USD
us-gaap Payments Of Dividends
PaymentsOfDividends
35564000 USD
us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
12497000 USD
us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
13829000 USD
us-gaap Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
73761000 USD
CY2013Q3 us-gaap Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
28940000 USD
us-gaap Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
61733000 USD
CY2014Q3 us-gaap Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
20283000 USD
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
73761000 USD
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
61733000 USD
CY2013Q4 us-gaap Prepaid Expense And Other Assets
PrepaidExpenseAndOtherAssets
78471000 USD
CY2014Q3 us-gaap Prepaid Expense And Other Assets
PrepaidExpenseAndOtherAssets
85565000 USD
us-gaap Proceeds From Issuance Of Secured Debt
ProceedsFromIssuanceOfSecuredDebt
631435000 USD
us-gaap Proceeds From Issuance Of Secured Debt
ProceedsFromIssuanceOfSecuredDebt
568880000 USD
us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
6012000 USD
us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
1620000 USD
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
10711000 USD
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
2417000 USD
CY2013Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
336498000 USD
CY2014Q3 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
331740000 USD
us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
10827000 USD
us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
9825000 USD
us-gaap Repayments Of Secured Debt
RepaymentsOfSecuredDebt
510020000 USD
us-gaap Repayments Of Secured Debt
RepaymentsOfSecuredDebt
484360000 USD
CY2014Q3 us-gaap Restructuring Charges
RestructuringCharges
400000 USD
CY2014Q3 us-gaap Restructuring Costs And Asset Impairment Charges
RestructuringCostsAndAssetImpairmentCharges
7743000 USD
us-gaap Restructuring Costs And Asset Impairment Charges
RestructuringCostsAndAssetImpairmentCharges
0 USD
us-gaap Restructuring Costs And Asset Impairment Charges
RestructuringCostsAndAssetImpairmentCharges
12120000 USD
CY2013Q3 us-gaap Restructuring Costs And Asset Impairment Charges
RestructuringCostsAndAssetImpairmentCharges
0 USD
CY2013Q4 us-gaap Retail Related Inventory Merchandise
RetailRelatedInventoryMerchandise
4038000 USD
CY2014Q3 us-gaap Retail Related Inventory Merchandise
RetailRelatedInventoryMerchandise
4151000 USD
CY2014Q3 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
1923140000 USD
CY2013Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
1888002000 USD
CY2014Q3 us-gaap Revenues
Revenues
769525000 USD
us-gaap Revenues
Revenues
2376488000 USD
CY2013Q3 us-gaap Revenues
Revenues
754780000 USD
us-gaap Revenues
Revenues
2334572000 USD
CY2013Q4 us-gaap Secured Debt
SecuredDebt
366275000 USD
CY2014Q3 us-gaap Secured Debt
SecuredDebt
425135000 USD
CY2014Q3 us-gaap Senior Notes
SeniorNotes
550000000 USD
CY2013Q4 us-gaap Senior Notes
SeniorNotes
550000000 USD
us-gaap Severance Costs1
SeveranceCosts1
2800000 USD
CY2014Q3 us-gaap Severance Costs1
SeveranceCosts1
2800000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
5524000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
5377000 USD
CY2014Q3 us-gaap Share Based Compensation
ShareBasedCompensation
1900000 USD
CY2013Q3 us-gaap Share Based Compensation
ShareBasedCompensation
1800000 USD
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Grants In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod
147000 shares
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
23.18
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0.028
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.2529
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate Maximum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRateMaximum
0.4141
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Method Used
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsMethodUsed
Black-Scholes
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate Maximum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMaximum
0.0237
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate Minimum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMinimum
0.0051
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
902000 shares
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
6.48
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
28.15
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P2Y120D
CY2014Q3 us-gaap Stock Repurchase Program Authorized Amount1
StockRepurchaseProgramAuthorizedAmount1
1250000000 USD
CY2014Q3 us-gaap Stock Repurchased And Retired During Period Shares
StockRepurchasedAndRetiredDuringPeriodShares
0 shares
us-gaap Stock Repurchased And Retired During Period Shares
StockRepurchasedAndRetiredDuringPeriodShares
0 shares
us-gaap Stock Repurchased And Retired During Period Value
StockRepurchasedAndRetiredDuringPeriodValue
0 USD
CY2014Q3 us-gaap Stock Repurchased And Retired During Period Value
StockRepurchasedAndRetiredDuringPeriodValue
0 USD
CY2014Q3 us-gaap Stockholders Equity
StockholdersEquity
1385024000 USD
CY2013Q4 us-gaap Stockholders Equity
StockholdersEquity
1343551000 USD
CY2013Q4 us-gaap Treasury Stock Shares
TreasuryStockShares
56369752 shares
CY2014Q3 us-gaap Treasury Stock Shares
TreasuryStockShares
56369752 shares
CY2013Q4 us-gaap Treasury Stock Value
TreasuryStockValue
1347677000 USD
CY2014Q3 us-gaap Treasury Stock Value
TreasuryStockValue
1347677000 USD
us-gaap Unrecognized Tax Benefits Period Increase Decrease
UnrecognizedTaxBenefitsPeriodIncreaseDecrease
700000 USD
us-gaap Use Of Estimates
UseOfEstimates
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-bottom:8px;padding-top:8px;text-align:justify;padding-left:18px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;"></font><font style="font-family:inherit;font-size:10pt;">In preparing financial statements in conformity with accounting principles generally accepted in the United States of America, 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. Because of the use of estimates inherent in the financial reporting process, actual results could differ from those estimates.</font></div></div>
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
55800000 shares
CY2014Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
53114000 shares
CY2013Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
53812000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
53069000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
55423000 shares
CY2014Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
52864000 shares
CY2013Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
53438000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
52828000 shares
CY2014Q3 rcii Actual Consolidated Senior Secured Leverage Ratio
ActualConsolidatedSeniorSecuredLeverageRatio
1.4
CY2014Q3 rcii Actual Maximum Consolidated Total Leverage Ratio
ActualMaximumConsolidatedTotalLeverageRatio
3.43
CY2014Q3 rcii Actual Minimum Consolidated Fixed Charge Coverage Ratio
ActualMinimumConsolidatedFixedChargeCoverageRatio
1.78
CY2014 rcii Adjusted Consolidated Ebitda
AdjustedConsolidatedEbitda
519000000 USD
rcii Amortization And Write Down Of Intangibles
AmortizationAndWriteDownOfIntangibles
2694000 USD
CY2014Q3 rcii Amortization And Write Down Of Intangibles
AmortizationAndWriteDownOfIntangibles
1382000 USD
rcii Amortization And Write Down Of Intangibles
AmortizationAndWriteDownOfIntangibles
4174000 USD
CY2013Q3 rcii Amortization And Write Down Of Intangibles
AmortizationAndWriteDownOfIntangibles
639000 USD
rcii Borrowingin Revolving Debt
BorrowinginRevolvingDebt
100000000 USD
rcii Borrowingin Term Loans
BorrowinginTermLoans
225000000 USD
rcii Commitment Fee Percentage Maximum
CommitmentFeePercentageMaximum
0.0050
rcii Commitment Fee Percentage Minimum
CommitmentFeePercentageMinimum
0.003
CY2014 rcii Consolidated Ebitda
ConsolidatedEbitda
273200000 USD
CY2014 rcii Consolidated Fixed Charges
ConsolidatedFixedCharges
290900000 USD
CY2014Q3 rcii Consolidated Funded Debt Definition
ConsolidatedFundedDebtDefinition
25000000 USD
CY2014Q3 rcii Consolidated Funded Debt Outstanding
ConsolidatedFundedDebtOutstanding
938200000 USD
CY2014Q3 rcii Consolidated Senior Secured Debt Outstanding
ConsolidatedSeniorSecuredDebtOutstanding
381900000 USD
CY2014Q3 rcii Cost Of Installment Sales
CostOfInstallmentSales
6134000 USD
CY2013Q3 rcii Cost Of Installment Sales
CostOfInstallmentSales
5983000 USD
rcii Cost Of Installment Sales
CostOfInstallmentSales
18874000 USD
rcii Cost Of Installment Sales
CostOfInstallmentSales
18141000 USD
CY2013Q3 rcii Cost Of Merchandise Sold
CostOfMerchandiseSold
42344000 USD
rcii Cost Of Merchandise Sold
CostOfMerchandiseSold
175903000 USD
CY2014Q3 rcii Cost Of Merchandise Sold
CostOfMerchandiseSold
47569000 USD
rcii Cost Of Merchandise Sold
CostOfMerchandiseSold
174299000 USD
CY2014Q3 rcii Cost Of Rentals And Fees
CostOfRentalsAndFees
177208000 USD
rcii Cost Of Rentals And Fees
CostOfRentalsAndFees
532590000 USD
CY2013Q3 rcii Cost Of Rentals And Fees
CostOfRentalsAndFees
170979000 USD
rcii Cost Of Rentals And Fees
CostOfRentalsAndFees
507826000 USD
rcii Costofstorerevenues
Costofstorerevenues
725763000 USD
CY2013Q3 rcii Costofstorerevenues
Costofstorerevenues
219306000 USD
rcii Costofstorerevenues
Costofstorerevenues
701870000 USD
CY2014Q3 rcii Costofstorerevenues
Costofstorerevenues
230911000 USD
rcii Depreciation Of Rental Merchandise
DepreciationOfRentalMerchandise
487412000 USD
rcii Depreciation Of Rental Merchandise
DepreciationOfRentalMerchandise
509596000 USD
CY2014Q3 rcii Event Of Default Allowed Period For Judgment
EventOfDefaultAllowedPeriodForJudgment
30
rcii Event Of Default Failure Of Other Debt Payment In Excess
EventOfDefaultFailureOfOtherDebtPaymentInExcess
50000000 USD
CY2014Q3 rcii Event Of Default Judgment
EventOfDefaultJudgment
50000000 USD
rcii Event Of Default Not Discharged Judgment In Excess
EventOfDefaultNotDischargedJudgmentInExcess
50000000 USD
CY2013Q3 rcii Finance Charges From Refinancing
FinanceChargesFromRefinancing
0 USD
CY2014Q3 rcii Finance Charges From Refinancing
FinanceChargesFromRefinancing
0 USD
rcii Finance Charges From Refinancing
FinanceChargesFromRefinancing
1946000 USD
rcii Finance Charges From Refinancing
FinanceChargesFromRefinancing
0 USD
CY2013Q3 rcii Franchise Cost Of Merchandise Sold
FranchiseCostOfMerchandiseSold
6142000 USD
rcii Franchise Cost Of Merchandise Sold
FranchiseCostOfMerchandiseSold
18984000 USD
CY2014Q3 rcii Franchise Cost Of Merchandise Sold
FranchiseCostOfMerchandiseSold
6247000 USD
rcii Franchise Cost Of Merchandise Sold
FranchiseCostOfMerchandiseSold
22072000 USD
CY2013Q3 rcii Franchise Merchandise Sales
FranchiseMerchandiseSales
6396000 USD
rcii Franchise Merchandise Sales
FranchiseMerchandiseSales
23072000 USD
rcii Franchise Merchandise Sales
FranchiseMerchandiseSales
19811000 USD
CY2014Q3 rcii Franchise Merchandise Sales
FranchiseMerchandiseSales
6524000 USD
rcii Franchise Royalty Income And Fees
FranchiseRoyaltyIncomeAndFees
5162000 USD
CY2013Q3 rcii Franchise Royalty Income And Fees
FranchiseRoyaltyIncomeAndFees
1285000 USD
rcii Franchise Royalty Income And Fees
FranchiseRoyaltyIncomeAndFees
4062000 USD
CY2014Q3 rcii Franchise Royalty Income And Fees
FranchiseRoyaltyIncomeAndFees
1861000 USD
rcii Increase Decrease In Rental Merchandise
IncreaseDecreaseInRentalMerchandise
515166000 USD
rcii Increase Decrease In Rental Merchandise
IncreaseDecreaseInRentalMerchandise
532923000 USD
CY2013Q3 rcii Installment Sales
InstallmentSales
17474000 USD
CY2014Q3 rcii Installment Sales
InstallmentSales
18089000 USD
rcii Installment Sales
InstallmentSales
52138000 USD
rcii Installment Sales
InstallmentSales
54499000 USD
CY2014Q3 rcii Letters Of Credit Remaining Capacity
LettersOfCreditRemainingCapacity
375300000 USD
rcii Maximum Period Used For Depreciation Of Merchandise Held For Rent
MaximumPeriodUsedForDepreciationOfMerchandiseHeldForRent
P18M
rcii Maximumperiodofpastduerequiredtochargeoffremainingbookvalueofrentalmerchandise
Maximumperiodofpastduerequiredtochargeoffremainingbookvalueofrentalmerchandise
P90D
rcii Maximumperiodofpastduerequiredtochargeoffremainingbookvalueofrentalmerchandisefor Acceptance Nowsegment
MaximumperiodofpastduerequiredtochargeoffremainingbookvalueofrentalmerchandiseforAcceptanceNowsegment
P150D
CY2013Q3 rcii Merchandise Sales
MerchandiseSales
53808000 USD
rcii Merchandise Sales
MerchandiseSales
227171000 USD
CY2014Q3 rcii Merchandise Sales
MerchandiseSales
58477000 USD
rcii Merchandise Sales
MerchandiseSales
226148000 USD
rcii Minimum Period In Held For Rent Status Needed For Depreciation Of Merchandise
MinimumPeriodInHeldForRentStatusNeededForDepreciationOfMerchandise
P180D
rcii Net Cash Paymentin Debt Refinancing
NetCashPaymentinDebtRefinancing
2500000 USD
CY2014Q3 rcii Number Of Issues In Disagreement With Case Law Applied By Internal Revenue Service
NumberOfIssuesInDisagreementWithCaseLawAppliedByInternalRevenueService
0
CY2014Q3 rcii Number Of Retail Installment Sales Stores
NumberOfRetailInstallmentSalesStores
45
rcii Our Ownership Percentage Of Subsidiary Guarantor
OurOwnershipPercentageOfSubsidiaryGuarantor
1.0
CY2014Q3 rcii Our Voting Stock Third Party Ownership Percentage
OurVotingStockThirdPartyOwnershipPercentage
0.35
CY2013Q3 rcii Overstatementofnetearnings
Overstatementofnetearnings
500000 USD
rcii Overstatementofnetearnings
Overstatementofnetearnings
900000 USD
CY2013Q4 rcii Rental Merchandise Held For Rent Net
RentalMerchandiseHeldForRentNet
210450000 USD
CY2014Q3 rcii Rental Merchandise Held For Rent Net
RentalMerchandiseHeldForRentNet
266574000 USD
CY2013Q4 rcii Rental Merchandise On Rent Net
RentalMerchandiseOnRentNet
914618000 USD
CY2014Q3 rcii Rental Merchandise On Rent Net
RentalMerchandiseOnRentNet
867184000 USD
rcii Rentals And Fees
RentalsAndFees
2056492000 USD
CY2013Q3 rcii Rentals And Fees
RentalsAndFees
671334000 USD
rcii Rentals And Fees
RentalsAndFees
2013885000 USD
CY2014Q3 rcii Rentals And Fees
RentalsAndFees
678190000 USD
rcii Repaymentof Revolving Debt
RepaymentofRevolvingDebt
140000000 USD
rcii Repaymentof Term Loans
RepaymentofTermLoans
187500000 USD
CY2014Q3 rcii Required Consolidated Senior Secured Leverage Ratio Maximum
RequiredConsolidatedSeniorSecuredLeverageRatioMaximum
2.75
CY2014Q3 rcii Required Maximum Consolidated Total Leverage Ratio
RequiredMaximumConsolidatedTotalLeverageRatio
4.50
CY2014Q3 rcii Required Minimum Consolidated Fixed Charge Coverage Ratio
RequiredMinimumConsolidatedFixedChargeCoverageRatio
1.5
rcii Restructuringand Related Cost Accelerated Depreciationand Asset Writeoff
RestructuringandRelatedCostAcceleratedDepreciationandAssetWriteoff
3200000 USD
CY2014Q3 rcii Restructuringand Related Cost Early Lease Termination
RestructuringandRelatedCostEarlyLeaseTermination
400000 USD
rcii Restructuringand Related Cost Early Lease Termination
RestructuringandRelatedCostEarlyLeaseTermination
1300000 USD
CY2014Q3 rcii Restructuringand Related Cost Future Lease Obligation
RestructuringandRelatedCostFutureLeaseObligation
2900000 USD
rcii Restructuringand Related Cost Store Decommissioning
RestructuringandRelatedCostStoreDecommissioning
300000 USD
rcii Royalty Fee Percentage Maximum
RoyaltyFeePercentageMaximum
0.06
rcii Royalty Fee Percentage Minimum
RoyaltyFeePercentageMinimum
0.02
CY2013Q3 rcii Salaries And Other Expenses
SalariesAndOtherExpenses
435866000 USD
rcii Salaries And Other Expenses
SalariesAndOtherExpenses
1345303000 USD
CY2014Q3 rcii Salaries And Other Expenses
SalariesAndOtherExpenses
443874000 USD
rcii Salaries And Other Expenses
SalariesAndOtherExpenses
1281922000 USD
CY2013Q4 rcii Segment Assets
SegmentAssets
3018553000 USD
CY2014Q3 rcii Segment Assets
SegmentAssets
3059191000 USD
rcii Segment Gross Profit
SegmentGrossProfit
1610630000 USD
CY2013Q3 rcii Segment Gross Profit
SegmentGrossProfit
529332000 USD
rcii Segment Gross Profit
SegmentGrossProfit
1638813000 USD
CY2014Q3 rcii Segment Gross Profit
SegmentGrossProfit
539439000 USD
rcii Segment Operating Profit
SegmentOperatingProfit
211787000 USD
CY2013Q3 rcii Segment Operating Profit
SegmentOperatingProfit
55773000 USD
rcii Segment Operating Profit
SegmentOperatingProfit
144745000 USD
CY2014Q3 rcii Segment Operating Profit
SegmentOperatingProfit
44823000 USD
CY2014Q3 rcii Senior Credit Facilities Additional Amount Allowed
SeniorCreditFacilitiesAdditionalAmountAllowed
250000000 USD
CY2014Q3 rcii Senior Credit Facility Maximum Amount
SeniorCreditFacilityMaximumAmount
900000000 USD
rcii Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Performance Based Grants In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsPerformanceBasedGrantsInPeriod
227000 shares
rcii Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Term Max
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedTermMax
P8Y120D
rcii Sharebased Compensation Arrangementby Sharebased Payment Award Fair Value Assumptions Expected Dividend Rate Maximum
SharebasedCompensationArrangementbySharebasedPaymentAwardFairValueAssumptionsExpectedDividendRateMaximum
0.037
CY2013 rcii Stock Repurchased And Retired Since Inception Of Program Shares
StockRepurchasedAndRetiredSinceInceptionOfProgramShares
36994653 shares
rcii Stock Repurchased And Retired Since Inception Of Program Shares
StockRepurchasedAndRetiredSinceInceptionOfProgramShares
36994653 shares
CY2013 rcii Stock Repurchased And Retired Since Inception Of Program Value
StockRepurchasedAndRetiredSinceInceptionOfProgramValue
994800000 USD
rcii Stock Repurchased And Retired Since Inception Of Program Value
StockRepurchasedAndRetiredSinceInceptionOfProgramValue
994800000 USD
rcii Storerevenues
Storerevenues
2351515000 USD
CY2014Q3 rcii Storerevenues
Storerevenues
761140000 USD
CY2013Q3 rcii Storerevenues
Storerevenues
747099000 USD
rcii Storerevenues
Storerevenues
2307438000 USD
CY2013Q4 rcii Term Loan Amount Outstanding
TermLoanAmountOutstanding
187500000 USD
CY2014Q3 rcii Term Loan Amount Outstanding
TermLoanAmountOutstanding
223900000 USD
CY2014Q3 rcii Term Loan Maximum Borrowing Capacity
TermLoanMaximumBorrowingCapacity
225000000 USD
rcii Understatementofsalariesandotherexpenses
Understatementofsalariesandotherexpenses
1500000 USD
CY2013Q3 rcii Understatementofsalariesandotherexpenses
Understatementofsalariesandotherexpenses
800000 USD
CY2014Q3 rcii Unsecuredlineofcreditamountoutstanding
Unsecuredlineofcreditamountoutstanding
6300000 USD
CY2013Q4 rcii Unsecuredlineofcreditamountoutstanding
Unsecuredlineofcreditamountoutstanding
18300000 USD
CY2014Q3 rcii Unsecuredlineofcreditmaximumfacility
Unsecuredlineofcreditmaximumfacility
20000000 USD
dei Amendment Flag
AmendmentFlag
false
dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q3
dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2014
dei Document Period End Date
DocumentPeriodEndDate
2014-09-30
dei Document Type
DocumentType
10-Q
dei Entity Central Index Key
EntityCentralIndexKey
0000933036
CY2014Q4 dei Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
52901754 shares
dei Entity Current Reporting Status
EntityCurrentReportingStatus
Yes
dei Entity Filer Category
EntityFilerCategory
Large Accelerated Filer
dei Entity Registrant Name
EntityRegistrantName
RENT A CENTER INC DE
dei Entity Voluntary Filers
EntityVoluntaryFilers
No
dei Entity Well Known Seasoned Issuer
EntityWellKnownSeasonedIssuer
Yes
dei Trading Symbol
TradingSymbol
RCII

Files In Submission

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0000933036-14-000033-index-headers.html Edgar Link pending
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0000933036-14-000033.txt Edgar Link pending
0000933036-14-000033-xbrl.zip Edgar Link pending
a2014q3ex-311.htm Edgar Link pending
a2014q3ex-312.htm Edgar Link pending
a2014q3ex-321.htm Edgar Link pending
a2014q3ex-322.htm Edgar Link pending
ex1034waiverandfourthamend.htm Edgar Link pending
ex181letterfromkpmg.htm Edgar Link pending
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rac-930201410xq.htm Edgar Link pending
rcii-20140930.xml Edgar Link completed
rcii-20140930.xsd Edgar Link pending
rcii-20140930_cal.xml Edgar Link unprocessable
rcii-20140930_def.xml Edgar Link unprocessable
rcii-20140930_lab.xml Edgar Link unprocessable
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