$UPBD
UPBOUND GROUP, INC. Stock $upbd

$upbd Overview Financials Valuation SEC Filings Company Website

2017 Q1 Form 10-Q Financial Statement

#000093303617000033 Filed on May 05, 2017

Income Statement

Concept	2017 Q1	2016 Q1
Revenue	$742.0M	$835.7M
YoY Change	-11.21%	-4.78%
Cost Of Revenue	$279.3M	$300.7M
YoY Change	-7.11%	-3.94%
Gross Profit	$462.7M	$534.9M
YoY Change	-13.51%	-5.25%
Gross Profit Margin	62.35%	64.02%
Selling, General & Admin	$429.3M	$464.3M
YoY Change	-7.54%	-4.82%
% of Gross Profit	92.79%	86.79%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization	$18.21M	$19.11M
YoY Change	-4.71%	1.38%
% of Gross Profit	3.94%	3.57%
Operating Expenses	$461.5M	$486.5M
YoY Change	-5.14%	-4.23%
Operating Profit	$1.152M	$48.43M
YoY Change	-97.62%	-14.43%
Interest Expense	$11.63M	$11.98M
YoY Change	-2.9%	-4.78%
% of Operating Profit	1009.55%	24.73%
Other Income/Expense, Net
YoY Change
Pretax Income	-$10.32M	$36.55M
YoY Change	-128.24%	-17.33%
Income Tax	-$3.643M	$11.49M
% Of Pretax Income		31.43%
Net Earnings	-$6.679M	$25.06M
YoY Change	-126.65%	-8.19%
Net Earnings / Revenue	-0.9%	3.0%
Basic Earnings Per Share	-$0.13	$0.47
Diluted Earnings Per Share	-$0.13	$0.47
COMMON SHARES
Basic Shares Outstanding	53.22M shares	53.09M shares
Diluted Shares Outstanding	53.22M shares	53.34M shares

Balance Sheet

Concept	2017 Q1	2016 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments	$58.10M	$46.40M
YoY Change	25.22%	-50.16%
Cash & Equivalents	$58.13M	$46.36M
Short-Term Investments
Other Short-Term Assets	$52.20M	$62.10M
YoY Change	-15.94%	-20.38%
Inventory	$945.5M	$1.074B
Prepaid Expenses
Receivables	$66.60M	$67.90M
Other Receivables	$0.00	$0.00
Total Short-Term Assets	$1.122B	$1.251B
YoY Change	-10.25%	-13.8%
LONG-TERM ASSETS
Property, Plant & Equipment	$312.7M	$325.6M
YoY Change	-3.96%	-0.58%
Goodwill	$55.31M	$207.1M
YoY Change	-73.3%	-84.95%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets
YoY Change
Total Long-Term Assets	$372.6M	$544.8M
YoY Change	-31.62%	-68.28%
TOTAL ASSETS
Total Short-Term Assets	$1.122B	$1.251B
Total Long-Term Assets	$372.6M	$544.8M
Total Assets	$1.495B	$1.795B
YoY Change	-16.73%	-43.34%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable	$82.60M	$93.30M
YoY Change	-11.47%	-36.05%
Accrued Expenses	$340.4M	$352.4M
YoY Change	-3.41%	-13.96%
Deferred Revenue
YoY Change
Short-Term Debt	$0.00	$0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities	$423.0M	$445.7M
YoY Change	-5.09%	-19.77%
LONG-TERM LIABILITIES
Long-Term Debt	$653.4M	$744.5M
YoY Change	-12.24%	-17.17%
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities	$653.4M	$744.5M
YoY Change	-12.24%	-17.17%
TOTAL LIABILITIES
Total Short-Term Liabilities	$423.0M	$445.7M
Total Long-Term Liabilities	$653.4M	$744.5M
Total Liabilities	$1.237B	$1.300B
YoY Change	-4.86%	-26.29%
SHAREHOLDERS EQUITY
Retained Earnings	$789.7M	$1.031B
YoY Change	-23.37%	-46.93%
Common Stock	$827.1M	$821.4M
YoY Change	0.69%	0.6%
Preferred Stock
YoY Change
Treasury Stock (at cost)	$1.348B	$1.348B
YoY Change	0.0%	0.0%
Treasury Stock Shares	56.37M shares	56.37M shares
Shareholders Equity	$258.4M	$495.7M
YoY Change
Total Liabilities & Shareholders Equity	$1.495B	$1.795B
YoY Change	-16.73%	-43.34%

Cashflow Statement

Concept	2017 Q1	2016 Q1
OPERATING ACTIVITIES
Net Income	-$6.679M	$25.06M
YoY Change	-126.65%	-8.19%
Depreciation, Depletion And Amortization	$18.21M	$19.11M
YoY Change	-4.71%	1.38%
Cash From Operating Activities	$59.32M	$226.7M
YoY Change	-73.83%	-0.6%
INVESTING ACTIVITIES
Capital Expenditures	$22.05M	$14.44M
YoY Change	52.69%	1.37%
Acquisitions	$0.00	$2.641M
YoY Change	-100.0%	-75.22%
Other Investing Activities	$500.0K	-$1.500M
YoY Change	-133.33%	-85.0%
Cash From Investing Activities	-$21.57M	-$15.98M
YoY Change	35.03%	-34.13%
FINANCING ACTIVITIES
Cash Dividend Paid	$4.268M	$12.77M
YoY Change	-66.59%	0.24%
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities	-$76.02M	-$225.1M
YoY Change	-66.22%	44.03%
NET CHANGE
Cash From Operating Activities	$59.32M	$226.7M
Cash From Investing Activities	-$21.57M	-$15.98M
Cash From Financing Activities	-$76.02M	-$225.1M
Net Change In Cash	-$38.27M	-$14.37M
YoY Change	166.36%	-130.23%
FREE CASH FLOW
Cash From Operating Activities	$59.32M	$226.7M
Capital Expenditures	$22.05M	$14.44M
Free Cash Flow	$37.27M	$212.2M
YoY Change	-82.44%	-0.73%

Facts In Submission

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CY2017Q1	dei	Document Fiscal Year Focus DocumentFiscalYearFocus	2017
CY2017Q1	dei	Document Period End Date DocumentPeriodEndDate	2017-03-31
CY2017Q1	dei	Document Type DocumentType	10-Q
CY2017Q1	dei	Entity Central Index Key EntityCentralIndexKey	0000933036
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CY2017Q1	dei	Entity Current Reporting Status EntityCurrentReportingStatus	Yes
CY2017Q1	dei	Entity Filer Category EntityFilerCategory	Large Accelerated Filer
CY2017Q1	dei	Entity Registrant Name EntityRegistrantName	RENT A CENTER INC DE
CY2017Q1	dei	Entity Voluntary Filers EntityVoluntaryFilers	No
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CY2017	rcii	Consolidated Fixed Charges ConsolidatedFixedCharges	273300000	USD
CY2017Q1	rcii	Consolidated Funded Debt Definition ConsolidatedFundedDebtDefinition	25000000	USD
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CY2017Q1	rcii	Consolidated Senior Secured Debt Outstanding ConsolidatedSeniorSecuredDebtOutstanding	87100000	USD
CY2016Q1	rcii	Cost Of Installment Sales CostOfInstallmentSales	6025000	USD
CY2017Q1	rcii	Cost Of Installment Sales CostOfInstallmentSales	5184000	USD
CY2016Q1	rcii	Cost Of Merchandise Sold CostOfMerchandiseSold	113886000	USD
CY2017Q1	rcii	Cost Of Merchandise Sold CostOfMerchandiseSold	109124000	USD
CY2016Q1	rcii	Cost Of Rentals And Fees CostOfRentalsAndFees	176241000	USD
CY2017Q1	rcii	Cost Of Rentals And Fees CostOfRentalsAndFees	162033000	USD
CY2016Q1	rcii	Costofstorerevenues Costofstorerevenues	296152000	USD
CY2017Q1	rcii	Costofstorerevenues Costofstorerevenues	276341000	USD
CY2017Q1	rcii	Covenantfor Debt Basket Available Under Senior Notes CovenantforDebtBasketAvailableUnderSeniorNotes	20000000	USD
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CY2016Q1	rcii	Depreciation Of Rental Merchandise DepreciationOfRentalMerchandise	174074000	USD
CY2017Q1	rcii	Depreciation Of Rental Merchandise DepreciationOfRentalMerchandise	160491000	USD
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CY2016	rcii	Mandatory Excess Cash Flow Pre Payment MandatoryExcessCashFlowPrePayment	27000000	USD
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CY2017Q1	rcii	Merchandise Sales MerchandiseSales	121722000	USD
CY2016Q1	rcii	Other Store Expenses OtherStoreExpenses	211807000	USD
CY2017Q1	rcii	Other Store Expenses OtherStoreExpenses	197440000	USD
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CY2017Q1	us-gaap	Liabilities Liabilities	1236538000	USD
CY2016Q4	us-gaap	Liabilities And Stockholders Equity LiabilitiesAndStockholdersEquity	1602741000	USD
CY2017Q1	us-gaap	Liabilities And Stockholders Equity LiabilitiesAndStockholdersEquity	1494974000	USD
CY2016Q4	us-gaap	Line Of Credit LineOfCredit	0	USD
CY2017Q1	us-gaap	Line Of Credit LineOfCredit	70000000	USD
CY2017Q1	us-gaap	Line Of Credit Facility Current Borrowing Capacity LineOfCreditFacilityCurrentBorrowingCapacity	225000000	USD
CY2017Q1	us-gaap	Line Of Credit Facility Maximum Borrowing Capacity LineOfCreditFacilityMaximumBorrowingCapacity	675000000	USD
CY2017Q1	us-gaap	Line Of Credit Facility Unused Capacity Commitment Fee Percentage LineOfCreditFacilityUnusedCapacityCommitmentFeePercentage	0.005
CY2017Q1	us-gaap	Long Term Debt Maturities Repayments Of Principal After Year Five LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFive	0	USD
CY2017Q1	us-gaap	Long Term Debt Maturities Repayments Of Principal In Next Twelve Months LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths	1687000	USD
CY2017Q1	us-gaap	Long Term Debt Maturities Repayments Of Principal In Year Five LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive	41813000	USD
CY2017Q1	us-gaap	Long Term Debt Maturities Repayments Of Principal In Year Four LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour	2250000	USD
CY2017Q1	us-gaap	Long Term Debt Maturities Repayments Of Principal In Year Three LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree	72250000	USD
CY2017Q1	us-gaap	Long Term Debt Maturities Repayments Of Principal In Year Two LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo	2250000	USD
CY2016Q1	us-gaap	Net Cash Provided By Used In Financing Activities NetCashProvidedByUsedInFinancingActivities	-225054000	USD
CY2017Q1	us-gaap	Net Cash Provided By Used In Financing Activities NetCashProvidedByUsedInFinancingActivities	-76017000	USD
CY2016Q1	us-gaap	Net Cash Provided By Used In Investing Activities NetCashProvidedByUsedInInvestingActivities	-15977000	USD
CY2017Q1	us-gaap	Net Cash Provided By Used In Investing Activities NetCashProvidedByUsedInInvestingActivities	-21573000	USD
CY2016Q1	us-gaap	Net Cash Provided By Used In Operating Activities NetCashProvidedByUsedInOperatingActivities	226662000	USD
CY2017Q1	us-gaap	Net Cash Provided By Used In Operating Activities NetCashProvidedByUsedInOperatingActivities	59317000	USD
CY2016Q1	us-gaap	Net Income Loss NetIncomeLoss	25061000	USD
CY2017Q1	us-gaap	Net Income Loss NetIncomeLoss	-6679000	USD
CY2016Q1	us-gaap	Operating Expenses OperatingExpenses	486514000	USD
CY2017Q1	us-gaap	Operating Expenses OperatingExpenses	461511000	USD
CY2016Q1	us-gaap	Operating Income Loss OperatingIncomeLoss	48430000	USD
CY2017Q1	us-gaap	Operating Income Loss OperatingIncomeLoss	1152000	USD
CY2016Q1	us-gaap	Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax	2450000	USD
CY2017Q1	us-gaap	Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax	5555000	USD
CY2016Q1	us-gaap	Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent	2450000	USD
CY2017Q1	us-gaap	Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent	5555000	USD
CY2017Q1	us-gaap	Other Nonrecurring Income Expense OtherNonrecurringIncomeExpense	1610000	USD
CY2016Q1	us-gaap	Other Sales Revenue Net OtherSalesRevenueNet	4088000	USD
CY2017Q1	us-gaap	Other Sales Revenue Net OtherSalesRevenueNet	2652000	USD
CY2016Q1	us-gaap	Payments Of Dividends PaymentsOfDividends	12773000	USD
CY2017Q1	us-gaap	Payments Of Dividends PaymentsOfDividends	4268000	USD
CY2016Q1	us-gaap	Payments Related To Tax Withholding For Share Based Compensation PaymentsRelatedToTaxWithholdingForShareBasedCompensation	148000	USD
CY2017Q1	us-gaap	Payments Related To Tax Withholding For Share Based Compensation PaymentsRelatedToTaxWithholdingForShareBasedCompensation	187000	USD
CY2016Q1	us-gaap	Payments To Acquire Businesses Net Of Cash Acquired PaymentsToAcquireBusinessesNetOfCashAcquired	2641000	USD
CY2017Q1	us-gaap	Payments To Acquire Businesses Net Of Cash Acquired PaymentsToAcquireBusinessesNetOfCashAcquired	0	USD
CY2016Q1	us-gaap	Payments To Acquire Productive Assets PaymentsToAcquireProductiveAssets	14440000	USD
CY2017Q1	us-gaap	Payments To Acquire Productive Assets PaymentsToAcquireProductiveAssets	22048000	USD
CY2016Q1	us-gaap	Payments To Acquire Property Plant And Equipment PaymentsToAcquirePropertyPlantAndEquipment	14440000	USD
CY2017Q1	us-gaap	Payments To Acquire Property Plant And Equipment PaymentsToAcquirePropertyPlantAndEquipment	22048000	USD
CY2016Q4	us-gaap	Prepaid Expense And Other Assets PrepaidExpenseAndOtherAssets	54989000	USD
CY2017Q1	us-gaap	Prepaid Expense And Other Assets PrepaidExpenseAndOtherAssets	52159000	USD
CY2016Q1	us-gaap	Proceeds From Issuance Of Secured Debt ProceedsFromIssuanceOfSecuredDebt	7410000	USD
CY2017Q1	us-gaap	Proceeds From Issuance Of Secured Debt ProceedsFromIssuanceOfSecuredDebt	86375000	USD
CY2016Q1	us-gaap	Proceeds From Sale Of Property Plant And Equipment ProceedsFromSaleOfPropertyPlantAndEquipment	1104000	USD
CY2017Q1	us-gaap	Proceeds From Sale Of Property Plant And Equipment ProceedsFromSaleOfPropertyPlantAndEquipment	475000	USD
CY2016Q4	us-gaap	Property Plant And Equipment Net PropertyPlantAndEquipmentNet	316428000	USD
CY2017Q1	us-gaap	Property Plant And Equipment Net PropertyPlantAndEquipmentNet	312679000	USD
CY2016Q1	us-gaap	Provision For Doubtful Accounts ProvisionForDoubtfulAccounts	3634000	USD
CY2017Q1	us-gaap	Provision For Doubtful Accounts ProvisionForDoubtfulAccounts	3422000	USD
CY2016Q1	us-gaap	Repayments Of Secured Debt RepaymentsOfSecuredDebt	219543000	USD
CY2017Q1	us-gaap	Repayments Of Secured Debt RepaymentsOfSecuredDebt	157937000	USD
CY2016Q1	us-gaap	Restructuring Costs And Asset Impairment Charges RestructuringCostsAndAssetImpairmentCharges	2435000	USD
CY2017Q1	us-gaap	Restructuring Costs And Asset Impairment Charges RestructuringCostsAndAssetImpairmentCharges	13651000	USD
CY2016Q4	us-gaap	Retail Related Inventory Merchandise RetailRelatedInventoryMerchandise	3629000	USD
CY2017Q1	us-gaap	Retail Related Inventory Merchandise RetailRelatedInventoryMerchandise	3675000	USD
CY2016Q4	us-gaap	Retained Earnings Accumulated Deficit RetainedEarningsAccumulatedDeficit	800640000	USD
CY2017Q1	us-gaap	Retained Earnings Accumulated Deficit RetainedEarningsAccumulatedDeficit	789685000	USD
CY2016Q1	us-gaap	Revenues Revenues	835652000	USD
CY2017Q1	us-gaap	Revenues Revenues	741986000	USD
CY2017Q1	us-gaap	Secured Debt SecuredDebt	120250000	USD
CY2016Q4	us-gaap	Senior Notes SeniorNotes	542740000	USD
CY2017Q1	us-gaap	Senior Notes SeniorNotes	542740000	USD
CY2016Q1	us-gaap	Share Based Compensation ShareBasedCompensation	2352000	USD
CY2016Q1	us-gaap	Share Based Compensation ShareBasedCompensation	2400000	USD
CY2017Q1	us-gaap	Share Based Compensation ShareBasedCompensation	-698000	USD
CY2017Q1	us-gaap	Share Based Compensation ShareBasedCompensation	-700000	USD
CY2017Q1	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Grants In Period ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod	466000	shares
CY2017Q1	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	9.00
CY2017Q1	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate	0.0284
CY2017Q1	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate Maximum ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRateMaximum	0.5201
CY2017Q1	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate Minimum ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRateMinimum	0.4375
CY2017Q1	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate Maximum ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMaximum	0.0207
CY2017Q1	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate Minimum ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMinimum	0.0154
CY2017Q1	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross	653000	shares
CY2017Q1	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue	2.73
CY2017Q1	us-gaap	Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice	8.98
CY2017Q1	us-gaap	Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1 SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1	P3Y6M
CY2016Q4	us-gaap	Stockholders Equity StockholdersEquity	264933000	USD
CY2017Q1	us-gaap	Stockholders Equity StockholdersEquity	258436000	USD
CY2016Q4	us-gaap	Treasury Stock Shares TreasuryStockShares	56369752	shares
CY2017Q1	us-gaap	Treasury Stock Shares TreasuryStockShares	56369752	shares
CY2016Q4	us-gaap	Treasury Stock Value TreasuryStockValue	1347677000	USD
CY2017Q1	us-gaap	Treasury Stock Value TreasuryStockValue	1347677000	USD
CY2016Q1	us-gaap	Weighted Average Number Of Diluted Shares Outstanding WeightedAverageNumberOfDilutedSharesOutstanding	53342000	shares
CY2017Q1	us-gaap	Weighted Average Number Of Diluted Shares Outstanding WeightedAverageNumberOfDilutedSharesOutstanding	53217000	shares
CY2016Q1	us-gaap	Weighted Average Number Of Shares Outstanding Basic WeightedAverageNumberOfSharesOutstandingBasic	53085000	shares
CY2017Q1	us-gaap	Weighted Average Number Of Shares Outstanding Basic WeightedAverageNumberOfSharesOutstandingBasic	53217000	shares
CY2017Q1	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;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. On July 9, 2015, the FASB approved a one-year deferral of the effective date. In March 2016, the FASB issued ASU 2016-08,</font><font style="font-family:inherit;font-size:10pt;font-style:italic;"> Revenue from Contracts with Customers (Topic 606): Principal versus Agent Considerations (Reporting Revenue Gross versus Net)</font><font style="font-family:inherit;font-size:10pt;">, which amends ASU 2014-09 relating to how and when a company recognizes revenue when another party is involved in providing a good or service to a customer. Under Topic 606, a company will recognize revenue on a gross basis when it provides a good or service to a customer (acts as the principal in a transaction), and on a net basis when it arranges for the good or service to be provided to the customer by another party (acts as an agent in a transaction). ASU 2016-08 provides additional guidance for determining whether a company acts as a principal or agent, depending primarily on whether a company controls goods or services before delivery to the customer. In April 2016, the FASB issued ASU 2016-10,</font><font style="font-family:inherit;font-size:10pt;font-style:italic;"> Revenue from Contracts with Customers (Topic 606): Identifying Performance Obligations and Licensing</font><font style="font-family:inherit;font-size:10pt;">, which provides additional guidance related to the identification of performance obligations within the contract, and licensing. In May 2016, the FASB issued ASU 2016-12,</font><font style="font-family:inherit;font-size:10pt;font-style:italic;"> Revenue from Contracts with Customers (Topic 606): Narrow-Scope Improvements and Practical Expedients</font><font style="font-family:inherit;font-size:10pt;">, which provides additional guidance related to certain technical areas within ASU 2014-09. In December 2016, the FASB issued ASU 2016-20, </font><font style="font-family:inherit;font-size:10pt;font-style:italic;">Technical Corrections and Improvements to Topic 606, Revenue from Contracts with Customers</font><font style="font-family:inherit;font-size:10pt;">, which provides additional guidance related to certain technical areas within ASU 2014-09. The adoption of these additional ASUs must be concurrent with the adoption of ASU 2014-09, which will be required for us beginning January 1, 2018, with early adoption permitted as of the original effective date. These ASUs allow adoption with either retrospective application to each prior period presented, or modified retrospective application with the cumulative effect recognized as of the date of initial application. We are currently in the process of evaluating the potential impact this new pronouncement will have on our financial statements and do not anticipate early adoption. We have not completed our evaluation and therefore cannot conclude whether the pronouncement will have a significant impact on our financial statements at this time. We expect to complete our evaluation by the end of 2017. We currently anticipate that we will utilize the modified retrospective method of adoption, however, this expectation may change following the completion of our evaluation of the impact of this pronouncement on our financial statements.</font></div><div style="line-height:120%;padding-top:8px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">In February 2016, the FASB issued ASU 2016-02,</font><font style="font-family:inherit;font-size:10pt;font-style:italic;"> Leases (Topic 842)</font><font style="font-family:inherit;font-size:10pt;">, which replaces existing accounting literature relating to the classification of, and accounting for, leases. Under ASU 2016-02, a company must recognize for all leases (with the exception of leases with terms less than 12 months) a liability representing a lessee's obligation to make lease payments arising from a lease, and a right-of-use asset representing the lessee's right to use, or control the use of, a specified asset for the lease term. Lessor accounting is largely unchanged, with certain improvements to align lessor accounting with the lessee accounting model and Topic 606, </font><font style="font-family:inherit;font-size:10pt;font-style:italic;">Revenue from Contracts with Customers. </font><font style="font-family:inherit;font-size:10pt;">The adoption of ASU 2016-02 will be required for us beginning January 1, 2019, with early adoption permitted. The ASU must be adopted using a modified retrospective transition, applying the new criteria to all leases existing or entered into after the beginning of the earliest comparative period in the consolidated financial statements. We are currently in the process of determining what impact the adoption of this ASU will have on our financial position, results of operations and cash flows, and we are evaluating the adoption date and transition alternatives.</font></div><div style="line-height:120%;padding-top:8px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">In March 2016, the FASB issued ASU 2016-09,</font><font style="font-family:inherit;font-size:10pt;font-style:italic;"> Compensation - Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting</font><font style="font-family:inherit;font-size:10pt;">, which includes multiple provisions intended to simplify various aspects of the accounting for share-based payments. Rent-A-Center adopted ASU 2016-09 beginning January 1, 2017. We adopted the recognition of excess tax benefits in the provision for income taxes rather than paid-in-capital, and the classification of excess tax benefits on the statement of cash flows on a prospective basis. We elected to continue to estimate forfeitures expected to occur in our determination of compensation cost recognized each period. Furthermore, we adopted the minimum statutory withholding requirements and classification of employee taxes paid on the statement of cash flows on a modified retrospective and full retrospective basis, respectively. Additional amendments included in the accounting standard update were not applicable to us. Impacts resulting from adoption were immaterial to the consolidated financial statements.</font></div><div style="line-height:120%;padding-top:8px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">In August 2016, the FASB issued ASU 2016-15, </font><font style="font-family:inherit;font-size:10pt;font-style:italic;">Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts and Cash Payments</font><font style="font-family:inherit;font-size:10pt;">, which provides guidance on the treatment of cash receipts and cash payments for certain types of cash transactions, to eliminate diversity in practice in the presentation of the cash flow statement. The adoption of ASU 2016-15 will be required for us on a retrospective basis beginning January 1, 2018, with early adoption permitted. We are currently in the process of determining the adoption date and what impact the adoption of this ASU will have on our presentation of cash flows.</font></div><div style="line-height:120%;padding-top:8px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">In January 2017, the FASB issued ASU 2017-04, </font><font style="font-family:inherit;font-size:10pt;font-style:italic;">Intangibles - Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment</font><font style="font-family:inherit;font-size:10pt;">, which simplifies the subsequent measurement of goodwill by eliminating the hypothetical purchase price allocation and instead using the difference between the carrying amount and the fair value of the reporting unit. The adoption of ASU 2017-04 will be required for us on a prospective basis beginning January 1, 2020, with early adoption permitted. We are currently in the process of determining the adoption date and what impact the adoption of this ASU will have on our financial statements.</font></div><div style="line-height:120%;padding-top:8px;text-align:justify;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>
CY2017Q1	us-gaap	Loss Contingency Disclosures LossContingencyDisclosures	<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-top:12px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Contingencies</font></div><div style="line-height:120%;padding-top:8px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">From time to time, the Company, along with our subsidiaries, is 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 condensed consolidated financial statements if and when such losses are incurred.</font></div><div style="line-height:120%;padding-top:8px;text-align:justify;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 our remediation efforts are still in process and there have been recent developments in escheat laws which may be applicable to this matter.</font></div><div style="line-height:120%;padding-top:8px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"></font></div></div>

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2017 Q1 Form 10-Q Financial Statement

#000093303617000033 Filed on May 05, 2017

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2017 Q1 Form 10-Q Financial Statement

#000093303617000033 Filed on May 05, 2017

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