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Segments (Tables)
3 Months Ended
Mar. 31, 2020
Segment Reporting [Abstract]  
Information on Segments and Reconciliation to Earnings Before Income Taxes from Continuing Operations
The following is a summary of total assets by segment and shared corporate-related assets.
(In Thousands)
March 31, 2020
 
December 31, 2019
Assets:
 
 
 
Progressive Leasing
$
1,235,893

 
$
1,261,786

Aaron's Business1,2
1,215,979

 
1,740,281

Vive
71,697

 
85,825

Other3
629,386

 
209,908

Total Assets
$
3,152,955

 
$
3,297,800

1 Includes inventory (principally raw materials and work-in-process) that has been classified within lease merchandise in the condensed consolidated balance sheets of $14.1 million and $14.0 million as of March 31, 2020 and December 31, 2019, respectively.
2 During the three months ended March 31, 2020, the Aaron's Business segment assets were impacted by a goodwill impairment charge of $446.9 million to fully write-off its goodwill balance.
3 Corporate-related assets that benefit multiple segments are reported as other assets. During the three months ended March 31, 2020, the increase in corporate-related assets is primarily due to a temporary $300.0 million draw on the Company's revolving credit facility in March 2020, which the Company subsequently repaid on April 30, 2020, that was held as cash as of March 31, 2020.
The following is a summary of earnings (loss) before income taxes by segment:
 
Three Months Ended
March 31,
(In Thousands)
2020
 
2019
(Loss) Earnings Before Income Taxes:
 
 
 
Progressive Leasing
$
58,987

 
$
55,388

Aaron's Business1
(465,357
)
 
17,588

Vive
(8,083
)
 
(2,668
)
Total (Loss) Earnings Before Income Taxes
$
(414,453
)
 
$
70,308


1 Loss before income taxes for the Aaron's Business during the three months ended March 31, 2020 was impacted by (i) goodwill impairment charges of $446.9 million, (ii) $14.1 million related to an early termination fee for a sales and marketing agreement, and (iii) restructuring charges of $22.3 million related to stores the Company has closed or plans to close in conjunction with its 2020 restructuring plan, which includes operating lease right-of-use asset impairment and operating lease charges, fixed asset impairment charges, and workforce reductions.
The following table presents revenue by source and by segment for the three months ended March 31, 2020:
 
Three Months Ended March 31, 2020
(In Thousands)
Progressive Leasing
Aaron's Business
Vive
Total
Lease Revenues and Fees1
$
658,534

$
389,379

$

$
1,047,913

Retail Sales2

9,531


9,531

Non-Retail Sales2

26,846


26,846

Franchise Royalties and Fees2

6,724


6,724

Interest and Fees on Loans Receivable3


9,908

9,908

Other

352


352

Total
$
658,534

$
432,832

$
9,908

$
1,101,274

1 Substantially all lease revenues and fees are within the scope of ASC 842, Leases. The Company had $6.7 million of other revenue within the scope of ASC 606, Revenue from Contracts with Customers.
2 
Substantially all retail sales, non-retail sales and franchise royalties and fees are within the scope of ASC 606, Revenue from Contracts with Customers.
3 All interest and fees on loans receivable are within the scope of ASC 310, Credit Card Interest & Fees.
The following table presents revenue by source and by segment for the three months ended March 31, 2019:
 
Three Months Ended March 31, 2019
(In Thousands)
Progressive Leasing
Aaron's Business
Vive
Total
Lease Revenues and Fees1
$
523,401

$
420,756

$

$
944,157

Retail Sales2

12,809


12,809

Non-Retail Sales2

36,981


36,981

Franchise Royalties and Fees2

9,207


9,207

Interest and Fees on Loans Receivable3


8,646

8,646

Other

303


303

Total
$
523,401

$
480,056

$
8,646

$
1,012,103

1 Substantially all lease revenues and fees are within the scope of ASC 842, Leases. The Company had $6.5 million of other revenue within the scope of ASC 606, Revenue from Contracts with Customers.
2 Substantially all retail sales, non-retail sales and franchise royalties and fees are within the scope of ASC 606, Revenue from Contracts with Customers.
3 All interest and fees on loans receivable are within the scope of ASC 310, Credit Card Interest & Fees.