2010 Q4 Form 10-Q Financial Statement

#000095012310096884 Filed on October 28, 2010

View on sec.gov

Income Statement

Concept 2010 Q4 2010 Q3 2009 Q3
Revenue $677.1M $664.6M $671.3M
YoY Change 0.62% -0.99% -5.3%
Cost Of Revenue $182.1M $174.6M $184.0M
YoY Change 0.17% -5.11% -7.4%
Gross Profit $495.0M $490.0M $487.2M
YoY Change 0.79% 0.57% -4.47%
Gross Profit Margin 73.11% 73.73% 72.58%
Selling, General & Admin $413.1M $420.1M $422.3M
YoY Change -0.72% -0.52% -5.67%
% of Gross Profit 83.45% 85.73% 86.68%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $144.9M $140.3M $144.0M
YoY Change 0.0% -2.57% -10.67%
% of Gross Profit 29.27% 28.63% 29.56%
Operating Expenses $413.2M $595.2M $606.9M
YoY Change -0.79% -1.93% 34.47%
Operating Profit $81.80M $69.39M $64.37M
YoY Change 9.65% 7.81% 9.65%
Interest Expense -$8.300M $6.085M $4.866M
YoY Change 84.44% 25.05% -137.43%
% of Operating Profit -10.15% 8.77% 7.56%
Other Income/Expense, Net -$3.100M
YoY Change
Pretax Income $51.40M $63.59M $59.65M
YoY Change -26.68% 6.6% 30.82%
Income Tax $19.60M $23.09M $22.81M
% Of Pretax Income 38.13% 36.32% 38.24%
Net Earnings $31.90M $40.50M $36.84M
YoY Change -27.0% 9.93% 25.31%
Net Earnings / Revenue 4.71% 6.09% 5.49%
Basic Earnings Per Share $0.62 $0.56
Diluted Earnings Per Share $493.8K $0.62 $0.55
COMMON SHARES
Basic Shares Outstanding 64.17M shares 65.09M shares
Diluted Shares Outstanding 65.75M shares

Balance Sheet

Concept 2010 Q4 2010 Q3 2009 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $70.70M $80.80M $39.90M
YoY Change -30.55% 102.51% -59.78%
Cash & Equivalents $70.73M $80.78M $39.91M
Short-Term Investments
Other Short-Term Assets $170.7M $47.80M $54.50M
YoY Change 236.69% -12.29% -7.0%
Inventory
Prepaid Expenses
Receivables $53.90M $67.60M $59.90M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $295.3M $196.2M $154.3M
YoY Change 36.78% 27.15% -23.54%
LONG-TERM ASSETS
Property, Plant & Equipment $224.6M $214.1M $752.3M
YoY Change 9.82% -71.54% -9.48%
Goodwill $1.320B $1.268B
YoY Change 4.08%
Intangibles
YoY Change
Long-Term Investments $181.6M $172.8M $175.7M
YoY Change 12.87% -1.65% -17.55%
Other Assets
YoY Change
Total Long-Term Assets $2.393B $2.204B $2.202B
YoY Change 7.4% 0.09% -4.6%
TOTAL ASSETS
Total Short-Term Assets $295.3M $196.2M $154.3M
Total Long-Term Assets $2.393B $2.204B $2.202B
Total Assets $2.688B $2.400B $2.356B
YoY Change 10.0% 1.86% -6.12%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $126.1M $87.80M $96.80M
YoY Change 29.73% -9.3% 1.68%
Accrued Expenses $288.4M $233.6M $272.1M
YoY Change 8.79% -14.15% -5.06%
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 $414.5M $321.4M $368.9M
YoY Change 14.41% -12.88% -3.38%
LONG-TERM LIABILITIES
Long-Term Debt $701.1M $596.1M $659.1M
YoY Change -1.42% -9.56% -33.71%
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $701.1M $596.1M $659.1M
YoY Change -1.42% -9.56% -33.71%
TOTAL LIABILITIES
Total Short-Term Liabilities $414.5M $321.4M $368.9M
Total Long-Term Liabilities $701.1M $596.1M $659.1M
Total Liabilities $1.335B $1.047B $1.147B
YoY Change 11.54% -8.69% -21.25%
SHAREHOLDERS EQUITY
Retained Earnings $1.541B $1.513B
YoY Change 11.9%
Common Stock $713.7M $702.7M
YoY Change 3.78%
Preferred Stock
YoY Change
Treasury Stock (at cost) $904.3M $865.6M
YoY Change 10.31%
Treasury Stock Shares 42.85M shares 41.44M shares
Shareholders Equity $1.354B $1.353B $1.209B
YoY Change
Total Liabilities & Shareholders Equity $2.688B $2.400B $2.356B
YoY Change 10.0% 1.86% -6.12%

Cashflow Statement

Concept 2010 Q4 2010 Q3 2009 Q3
OPERATING ACTIVITIES
Net Income $31.90M $40.50M $36.84M
YoY Change -27.0% 9.93% 25.31%
Depreciation, Depletion And Amortization $144.9M $140.3M $144.0M
YoY Change 0.0% -2.57% -10.67%
Cash From Operating Activities $23.80M $104.4M $87.40M
YoY Change -26.32% 19.45% -14.06%
INVESTING ACTIVITIES
Capital Expenditures -$35.60M -$27.60M -$24.10M
YoY Change 134.21% 14.52% 102.52%
Acquisitions
YoY Change
Other Investing Activities -$71.20M -$1.800M -$2.700M
YoY Change -9000.0% -33.33% 35.0%
Cash From Investing Activities -$106.8M -$29.40M -$26.80M
YoY Change 641.67% 9.7% 92.81%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 72.30M -68.50M -116.9M
YoY Change 67.36% -41.4% 83.52%
NET CHANGE
Cash From Operating Activities 23.80M 104.4M 87.40M
Cash From Investing Activities -106.8M -29.40M -26.80M
Cash From Financing Activities 72.30M -68.50M -116.9M
Net Change In Cash -10.70M 6.500M -56.30M
YoY Change -117.51% -111.55% -333.61%
FREE CASH FLOW
Cash From Operating Activities $23.80M $104.4M $87.40M
Capital Expenditures -$35.60M -$27.60M -$24.10M
Free Cash Flow $59.40M $132.0M $111.5M
YoY Change 25.05% 18.39% -1.85%

Facts In Submission

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us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
567000 USD
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
1043000 USD
us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
1544000 USD
us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
1664000 USD
us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
6708000 USD
us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
31869000 USD
rcii Increase Decrease In Rental Merchandise
IncreaseDecreaseInRentalMerchandise
-344636000 USD
rcii Increase Decrease In Rental Merchandise
IncreaseDecreaseInRentalMerchandise
-293258000 USD
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
-16270000 USD
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
-18460000 USD
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
1202000 USD
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
3060000 USD
us-gaap Increase Decrease In Accounts Payable Trade
IncreaseDecreaseInAccountsPayableTrade
-9318000 USD
us-gaap Increase Decrease In Accounts Payable Trade
IncreaseDecreaseInAccountsPayableTrade
3255000 USD
us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
-28385000 USD
us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
-15583000 USD
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
192653000 USD
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
297849000 USD
us-gaap Excess Tax Benefit From Share Based Compensation Operating Activities
ExcessTaxBenefitFromShareBasedCompensationOperatingActivities
-208000 USD
us-gaap Repayments Of Subordinated Debt
RepaymentsOfSubordinatedDebt
0 USD
us-gaap Payments Of Dividends
PaymentsOfDividends
3949000 USD
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
0 USD
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
1276000 USD
us-gaap Excess Tax Benefit From Share Based Compensation Financing Activities
ExcessTaxBenefitFromShareBasedCompensationFinancingActivities
208000 USD
us-gaap Repayments Of Long Term Capital Lease Obligations
RepaymentsOfLongTermCapitalLeaseObligations
1781000 USD
us-gaap Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
68385000 USD
us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
131017000 USD
us-gaap Repayments Of Subordinated Debt
RepaymentsOfSubordinatedDebt
225375000 USD
us-gaap Payments Of Dividends
PaymentsOfDividends
0 USD
us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
12084000 USD
us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
10387000 USD
dei Entity Registrant Name
EntityRegistrantName
RENT A CENTER INC DE
dei Entity Central Index Key
EntityCentralIndexKey
0000933036
dei Document Type
DocumentType
10-Q
dei Document Period End Date
DocumentPeriodEndDate
2010-09-30
dei Amendment Flag
AmendmentFlag
false
dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
dei Entity Well Known Seasoned Issuer
EntityWellKnownSeasonedIssuer
Yes
dei Entity Voluntary Filers
EntityVoluntaryFilers
No
dei Entity Current Reporting Status
EntityCurrentReportingStatus
Yes
dei Entity Filer Category
EntityFilerCategory
Large Accelerated Filer
CY2010Q4 dei Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
64167534 shares
dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2010
dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q3

Files In Submission

Name View Source Status
0000950123-10-096884-index-headers.html Edgar Link pending
0000950123-10-096884-index.html Edgar Link pending
0000950123-10-096884.txt Edgar Link pending
0000950123-10-096884-xbrl.zip Edgar Link pending
d77160e10vq.htm Edgar Link pending
d77160exv31w1.htm Edgar Link pending
d77160exv31w2.htm Edgar Link pending
d77160exv32w1.htm Edgar Link pending
d77160exv32w2.htm Edgar Link pending
defnref.xml Edgar Link unprocessable
FilingSummary.xml Edgar Link unprocessable
Financial_Report.xls Edgar Link pending
R1.xml Edgar Link unprocessable
R10.xml Edgar Link unprocessable
R11.xml Edgar Link unprocessable
R12.xml Edgar Link unprocessable
R2.xml Edgar Link unprocessable
R3.xml Edgar Link unprocessable
R4.xml Edgar Link unprocessable
R5.xml Edgar Link unprocessable
R6.xml Edgar Link unprocessable
R7.xml Edgar Link unprocessable
R8.xml Edgar Link unprocessable
R9.xml Edgar Link unprocessable
rcii-20100930.xml Edgar Link completed
rcii-20100930.xsd Edgar Link pending
rcii-20100930_cal.xml Edgar Link unprocessable
rcii-20100930_lab.xml Edgar Link unprocessable
rcii-20100930_pre.xml Edgar Link unprocessable