Acquisitions (Tables)

12 Months Ended

Dec. 31, 2015

DAMI

Business Acquisition [Line Items]

Schedule of Recognized Identified Assets Acquired and Liabilities Assumed

The following table presents the summary of the preliminary estimated fair value of the assets acquired and liabilities assumed in the DAMI acquisition as of the October 15, 2015 acquisition date:

(In Thousands)
Purchase Price	$	54,900
Estimated Fair Value of Identifiable Assets Acquired and Liabilities Assumed
Cash and Cash Equivalents	4,185
Loans Receivable1	89,186
Receivables	45
Property, Plant and Equipment	2,754
Other Intangibles2	3,400
Income Tax Receivable	728
Prepaid Expenses and Other Assets	671
Deferred Income Tax Assets	375
Total Identifiable Assets Acquired	101,344
Accounts Payable and Accrued Expenses	(1,709		)
Debt	(45,025		)
Total Liabilities Assumed	(46,734		)
Goodwill	290
Net Assets Acquired	$	54,900

¹ Contractually required amounts due at the acquisition date were $94.2 million.

² Identifiable intangible assets are further disaggregated in the table below.

Finite-Lived and Indefinite-Lived Intangible Assets Acquired as Part of Business Combination

The estimated intangible assets attributable to the DAMI acquisition are comprised of the following:

	Fair Value (in thousands)		Weighted Average Life (in years)
Technology	$	2,550	5.0
Trade Names and Trademarks	500		10.0
Non-compete Agreements	350		5.0
Total Acquired Intangible Assets1	$	3,400

¹ Acquired definite-lived intangible assets have a total weighted average life of 5.7 years.

Progressive

Business Acquisition [Line Items]

Schedule of Business Acquisitions, by Acquisition

The following table reconciles the total estimated purchase price of the Company’s acquisition of Progressive:

(In Thousands)
Proceeds from Private Placement Note Issuance	$	300,000
Proceeds from Term Loan	126,250
Proceeds from Revolving Credit Facility	65,000
Cash Consideration	185,454
Deferred Cash Consideration	29,106
Purchase Price	$	705,810

Schedule of Recognized Identified Assets Acquired and Liabilities Assumed

The following table presents the summary of the preliminary estimated fair value of the assets acquired and liabilities assumed in the Progressive acquisition as of the April 14, 2014 acquisition date, as well as adjustments made during the year ended December 31, 2015 (referred to as the "measurement period adjustments"):

(In Thousands)	Amounts Recognized as of Acquisition Date (as adjusted)1			Measurement Period Adjustments2			Amounts Recognized as of Acquisition Date (as adjusted)
Purchase Price	$	705,810		$	—		$	705,810
Estimated Fair Value of Identifiable Assets Acquired and Liabilities Assumed
Cash and Cash Equivalents	5,810			—			5,810
Receivables2, 3	27,581			(4,245		)	23,336
Lease Merchandise2	141,185			110			141,295
Property, Plant and Equipment	4,010			—			4,010
Other Intangibles4	325,000			—			325,000
Prepaid Expenses and Other Assets	893			—			893
Total Identifiable Assets Acquired	504,479			(4,135		)	500,344
Accounts Payable and Accrued Expenses2	(29,104		)	3,049			(26,055		)
Deferred Income Taxes Payable2	(48,749		)	(335		)	(49,084		)
Customer Deposits and Advance Payments	(10,000		)	—			(10,000		)
Total Liabilities Assumed	(87,853		)	2,714			(85,139		)
Goodwill5	289,184			1,421			290,605
Net Assets Acquired	$	705,810		$	—		$	705,810

¹ As previously reported in the notes to consolidated financial statements included in the Company's Annual Report on Form 10-K for the year ended December 31, 2014, which includes the effects of certain measurement period adjustments recognized in 2014.

² The measurement period adjustments recognized in 2015 related to the resolution of income tax uncertainties and sales tax exposures, which also impacted the fair value estimates of receivables and lease merchandise related to the secondary escrow amount, subsequent to the acquisition date.

³ Receivables include $13.4 million related to the secondary escrow amount, which the Company expects to recover prior to termination of the escrow agreement 36 months from the April 14, 2014 closing date. The gross amount due under customer-related receivables acquired was $22.7 million, of which $10.9 million was expected to be uncollectible.

⁴ Identifiable intangible assets are further disaggregated in the following table.

⁵ The total goodwill recognized in conjunction with the Progressive acquisition has been assigned to the Progressive operating segment. Of the goodwill recognized as part of this acquisition, $247.0 million is expected to be deductible for tax purposes. The primary reasons the purchase price of the acquisition exceeded the fair value of the net assets acquired, which resulted in the recognition of goodwill, is related to synergistic value created from the combination of Progressive’s virtual customer payment capabilities with the Company’s leading traditional lease-to-own model. Goodwill also includes certain other intangible assets that do not qualify for separate recognition, such as an assembled workforce.

Finite-Lived and Indefinite-Lived Intangible Assets Acquired as Part of Business Combination

The estimated intangible assets attributable to the Progressive acquisition are comprised of the following:

	Fair Value (in thousands)		Weighted Average Life (in years)
Internal Use Software	$	14,000	3.0
Technology	66,000		10.0
Trade Names and Trademarks	53,000		Indefinite
Customer Lease Contracts	11,000		1.0
Merchant Relationships	181,000		12.0
Total Acquired Intangible Assets1	$	325,000

¹ Acquired definite-lived intangible assets have a total weighted average life of 10.6 years.

Business Acquisition, Pro Forma Information

The following table presents unaudited consolidated pro forma information as if the acquisition of Progressive had occurred on January 1, 2013:

	Twelve Months Ended   December 31,
	2014				2013
(In Thousands)	As Reported		Pro Forma		As Reported		Pro Forma
Revenues	$	2,695,033	$	2,851,631	$	2,234,631	$	2,607,977
Net Earnings	78,233		86,038		120,666		105,682