2010 Form 10-K Financial Statement

#000095012311018066 Filed on February 25, 2011

View on sec.gov

Income Statement

Concept 2010 2009 Q4 2009
Revenue $2.732B $672.9M $2.752B
YoY Change -0.74% -3.84% -4.58%
Cost Of Revenue $736.0M $181.8M $764.0M
YoY Change -3.66% -5.56% -6.35%
Gross Profit $1.996B $491.1M $1.988B
YoY Change 0.39% -3.19% -3.89%
Gross Profit Margin 73.06% 72.98% 72.24%
Selling, General & Admin $1.670B $416.1M $1.694B
YoY Change -1.42% -5.88% -4.71%
% of Gross Profit 83.67% 84.73% 85.2%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $63.41M $144.9M $65.79M
YoY Change -3.61% -7.23% -9.49%
% of Gross Profit 3.18% 29.51% 3.31%
Operating Expenses $1.692B $416.5M $1.692B
YoY Change 0.01% -6.74% -35.18%
Operating Profit $303.8M $74.60M $296.3M
YoY Change 2.51% 22.9% 7.99%
Interest Expense $26.77M -$4.500M $26.79M
YoY Change -0.09% -58.72% -59.56%
% of Operating Profit 8.81% -6.03% 9.04%
Other Income/Expense, Net -$3.100M $0.00 $0.00
YoY Change
Pretax Income $274.8M $70.10M $270.4M
YoY Change 1.62% 22.34% 22.15%
Income Tax $103.1M $26.40M $102.5M
% Of Pretax Income 37.53% 37.66% 37.92%
Net Earnings $171.6M $43.70M $167.9M
YoY Change 2.26% 21.05% 20.22%
Net Earnings / Revenue 6.28% 6.49% 6.1%
Basic Earnings Per Share $2.64 $2.54
Diluted Earnings Per Share $2.60 $658.1K $2.52
COMMON SHARES
Basic Shares Outstanding 65.10M shares 65.99M shares
Diluted Shares Outstanding 65.90M shares 66.57M shares

Balance Sheet

Concept 2010 2009 Q4 2009
SHORT-TERM ASSETS
Cash & Short-Term Investments $70.70M $101.8M $101.8M
YoY Change -30.55% 16.48% 16.48%
Cash & Equivalents $70.70M $70.73M $101.8M
Short-Term Investments
Other Short-Term Assets $170.7M $50.70M $50.70M
YoY Change 236.69% -14.36% -14.36%
Inventory $836.9M $750.0M
Prepaid Expenses
Receivables $53.90M $63.40M $63.40M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $1.132B $215.9M $965.9M
YoY Change 17.22% 8.82% -5.07%
LONG-TERM ASSETS
Property, Plant & Equipment $224.6M $204.6M $204.6M
YoY Change 9.78% -75.76% -2.06%
Goodwill $1.269B
YoY Change
Intangibles
YoY Change
Long-Term Investments $160.9M
YoY Change -12.6%
Other Assets
YoY Change
Total Long-Term Assets $1.556B $2.228B $1.478B
YoY Change 5.28% -3.05% -0.07%
TOTAL ASSETS
Total Short-Term Assets $1.132B $215.9M $965.9M
Total Long-Term Assets $1.556B $2.228B $1.478B
Total Assets $2.688B $2.444B $2.444B
YoY Change 10.0% -2.11% -2.11%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $126.1M $97.20M $97.20M
YoY Change 29.73% 3.96% 3.96%
Accrued Expenses $251.8M $265.1M $231.6M
YoY Change 8.72% -8.49% -11.03%
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 $362.3M $362.3M
YoY Change 14.41% -5.45% -5.45%
LONG-TERM LIABILITIES
Long-Term Debt $701.1M $711.2M $711.2M
YoY Change -1.42% -24.91% -24.91%
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $701.1M $711.2M $711.2M
YoY Change -1.42% -24.91% -24.91%
TOTAL LIABILITIES
Total Short-Term Liabilities $414.5M $362.3M $362.3M
Total Long-Term Liabilities $701.1M $711.2M $711.2M
Total Liabilities $1.335B $1.196B $1.197B
YoY Change 11.53% -15.59% -15.59%
SHAREHOLDERS EQUITY
Retained Earnings $1.377B
YoY Change
Common Stock $687.6M
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost) $819.8M
YoY Change
Treasury Stock Shares 39.26M shares
Shareholders Equity $1.354B $1.248B $1.248B
YoY Change
Total Liabilities & Shareholders Equity $2.688B $2.444B $2.444B
YoY Change 10.0% -2.11% -2.11%

Cashflow Statement

Concept 2010 2009 Q4 2009
OPERATING ACTIVITIES
Net Income $171.6M $43.70M $167.9M
YoY Change 2.26% 21.05% 20.22%
Depreciation, Depletion And Amortization $63.41M $144.9M $65.79M
YoY Change -3.61% -7.23% -9.49%
Cash From Operating Activities $216.5M $32.30M $330.1M
YoY Change -34.42% -53.53% -14.11%
INVESTING ACTIVITIES
Capital Expenditures $93.01M -$15.20M $68.84M
YoY Change 35.1% -26.57% 11.16%
Acquisitions $74.38M $7.221M
YoY Change 930.02% -54.01%
Other Investing Activities -$74.20M $800.0K -$4.100M
YoY Change 1709.76% -111.27% -57.29%
Cash From Investing Activities -$167.2M -$14.40M -$72.94M
YoY Change 129.2% -48.2% 2.03%
FINANCING ACTIVITIES
Cash Dividend Paid $7.804M $0.00
YoY Change
Common Stock Issuance & Retirement, Net $84.52M $8.833M
YoY Change 856.87% -33.99%
Debt Paid & Issued, Net $402.3M $196.7M
YoY Change 104.56% -55.94%
Cash From Financing Activities -$81.33M 43.20M -$245.1M
YoY Change -66.81% -180.15% -24.19%
NET CHANGE
Cash From Operating Activities $216.5M 32.30M $330.1M
Cash From Investing Activities -$167.2M -14.40M -$72.94M
Cash From Financing Activities -$81.33M 43.20M -$245.1M
Net Change In Cash -$32.03M 61.10M $12.13M
YoY Change -364.11% -600.82% -216.83%
FREE CASH FLOW
Cash From Operating Activities $216.5M $32.30M $330.1M
Capital Expenditures $93.01M -$15.20M $68.84M
Free Cash Flow $123.5M $47.50M $261.3M
YoY Change -52.74% -47.34% -18.96%

Facts In Submission

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-6620000 USD
CY2010 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
-123649000 USD
CY2010 us-gaap Increase Decrease In Accounts Payable Trade
IncreaseDecreaseInAccountsPayableTrade
25467000 USD
CY2010 us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
-4422000 USD
CY2010 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
216489000 USD
CY2010 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
93007000 USD
CY2010 us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
203000 USD
CY2010 us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
74378000 USD
CY2010 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-167182000 USD
CY2010 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
84520000 USD
CY2010 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
19040000 USD
CY2010 us-gaap Repayments Of Long Term Capital Lease Obligations
RepaymentsOfLongTermCapitalLeaseObligations
979000 USD
CY2010 us-gaap Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
92230000 USD
CY2010 us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
402274000 USD
CY2010 us-gaap Repayments Of Subordinated Debt
RepaymentsOfSubordinatedDebt
0 USD
CY2010 us-gaap Payments Of Dividends
PaymentsOfDividends
7804000 USD
CY2010 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-81333000 USD
CY2010 us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
-31076000 USD
CY2007Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
97375000 USD
CY2008Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
87382000 USD
CY2009 rcii Depreciation Of Rental Merchandise
DepreciationOfRentalMerchandise
519103000 USD
CY2009 us-gaap Share Based Compensation
ShareBasedCompensation
3731000 USD
CY2009 us-gaap Depreciation
Depreciation
65788000 USD
CY2009 us-gaap Gain Loss On Sale Of Property Plant Equipment
GainLossOnSaleOfPropertyPlantEquipment
5856000 USD
CY2009 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
1291000 USD
CY2009 us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
1970000 USD
CY2009 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
35899000 USD
CY2009 us-gaap Excess Tax Benefit From Share Based Compensation Operating Activities
ExcessTaxBenefitFromShareBasedCompensationOperatingActivities
-270000 USD
CY2009 rcii Increase Decrease In Rental Merchandise
IncreaseDecreaseInRentalMerchandise
-449128000 USD
CY2009 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
-34781000 USD
CY2009 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
-9421000 USD
CY2009 us-gaap Increase Decrease In Accounts Payable Trade
IncreaseDecreaseInAccountsPayableTrade
16367000 USD
CY2009 us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
-11534000 USD
CY2009 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
330121000 USD
CY2009 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
68841000 USD
CY2009 us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
3122000 USD
CY2009 us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
7221000 USD
CY2009 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-72940000 USD
CY2009 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
8833000 USD
CY2009 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
1537000 USD
CY2009 us-gaap Repayments Of Long Term Capital Lease Obligations
RepaymentsOfLongTermCapitalLeaseObligations
2100000 USD
CY2009 us-gaap Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
186100000 USD
CY2009 us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
196654000 USD
CY2009 us-gaap Repayments Of Subordinated Debt
RepaymentsOfSubordinatedDebt
225375000 USD
CY2009 us-gaap Payments Of Dividends
PaymentsOfDividends
0 USD
CY2009 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-245055000 USD
CY2009 us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
14421000 USD
CY2008 rcii Depreciation Of Rental Merchandise
DepreciationOfRentalMerchandise
561414000 USD
CY2008 us-gaap Share Based Compensation
ShareBasedCompensation
3341000 USD
CY2008 us-gaap Depreciation
Depreciation
72683000 USD
CY2008 us-gaap Gain Loss On Sale Of Property Plant Equipment
GainLossOnSaleOfPropertyPlantEquipment
375000 USD
CY2008 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
12589000 USD
CY2008 us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
1703000 USD
CY2008 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
77538000 USD
CY2008 us-gaap Excess Tax Benefit From Share Based Compensation Operating Activities
ExcessTaxBenefitFromShareBasedCompensationOperatingActivities
-560000 USD
CY2008 rcii Increase Decrease In Rental Merchandise
IncreaseDecreaseInRentalMerchandise
-438964000 USD
CY2008 us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
-21472000 USD
CY2009 us-gaap Excess Tax Benefit From Share Based Compensation Financing Activities
ExcessTaxBenefitFromShareBasedCompensationFinancingActivities
270000 USD
CY2008 us-gaap Excess Tax Benefit From Share Based Compensation Financing Activities
ExcessTaxBenefitFromShareBasedCompensationFinancingActivities
560000 USD
CY2010 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
16168000 USD
CY2009 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
17395000 USD
CY2008 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
14455000 USD
CY2010 us-gaap Interest Paid
InterestPaid
20569000 USD
CY2009 us-gaap Interest Paid
InterestPaid
27920000 USD
CY2008 us-gaap Interest Paid
InterestPaid
70688000 USD
CY2010 us-gaap Proceeds From Issuance Of Senior Long Term Debt
ProceedsFromIssuanceOfSeniorLongTermDebt
300000000 USD
CY2008 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
-24572000 USD
CY2008 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
-7056000 USD
CY2008 us-gaap Increase Decrease In Accounts Payable Trade
IncreaseDecreaseInAccountsPayableTrade
-6924000 USD
CY2008 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
384336000 USD
CY2008 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
61931000 USD
CY2008 us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
6144000 USD
CY2008 us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
15700000 USD
CY2008 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-71487000 USD
CY2008 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
13382000 USD
CY2008 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
3169000 USD
CY2008 us-gaap Repayments Of Long Term Capital Lease Obligations
RepaymentsOfLongTermCapitalLeaseObligations
5662000 USD
CY2008 us-gaap Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
213050000 USD
CY2008 us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
446338000 USD
CY2008 us-gaap Repayments Of Subordinated Debt
RepaymentsOfSubordinatedDebt
74625000 USD
CY2008 us-gaap Payments Of Dividends
PaymentsOfDividends
0 USD
CY2008 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-323228000 USD
CY2008 us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
-9993000 USD
CY2010 us-gaap Income Taxes Paid
IncomeTaxesPaid
124065000 USD
CY2009 us-gaap Income Taxes Paid
IncomeTaxesPaid
69312000 USD
CY2008 us-gaap Income Taxes Paid
IncomeTaxesPaid
20954000 USD
CY2010 rcii Income Taxes Refunded
IncomeTaxesRefunded
330000 USD
CY2009 rcii Income Taxes Refunded
IncomeTaxesRefunded
1380000 USD
CY2008 rcii Income Taxes Refunded
IncomeTaxesRefunded
34656000 USD
CY2010 us-gaap Excess Tax Benefit From Share Based Compensation Financing Activities
ExcessTaxBenefitFromShareBasedCompensationFinancingActivities
2974000 USD
CY2009 us-gaap Proceeds From Issuance Of Senior Long Term Debt
ProceedsFromIssuanceOfSeniorLongTermDebt
0 USD
CY2008 us-gaap Proceeds From Issuance Of Senior Long Term Debt
ProceedsFromIssuanceOfSeniorLongTermDebt
0 USD
CY2010 dei Entity Registrant Name
EntityRegistrantName
RENT A CENTER INC DE
CY2010 dei Entity Central Index Key
EntityCentralIndexKey
0000933036
CY2010 dei Document Type
DocumentType
10-K
CY2010 dei Document Period End Date
DocumentPeriodEndDate
2010-12-31
CY2010 dei Amendment Flag
AmendmentFlag
false
CY2010 dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2010
CY2010 dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
FY
CY2010 dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
CY2010 dei Entity Well Known Seasoned Issuer
EntityWellKnownSeasonedIssuer
Yes
CY2010 dei Entity Voluntary Filers
EntityVoluntaryFilers
No
CY2010 dei Entity Current Reporting Status
EntityCurrentReportingStatus
Yes
CY2010 dei Entity Filer Category
EntityFilerCategory
Large Accelerated Filer
CY2010Q2 dei Entity Public Float
EntityPublicFloat
1300971203 USD
CY2011Q1 dei Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
63518982 shares

Files In Submission

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0000950123-11-018066.txt Edgar Link pending
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