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Acquisitions and Dispositions (Tables)
12 Months Ended
Dec. 31, 2012
Summary of Acquisitions of Lease Contracts, Merchandise and Related Assets of Sales and Lease Ownership Stores

The following table summarizes the Company’s acquisitions of lease contracts, merchandise and the related assets of sales and lease ownership stores, none of which was individually material to the Company’s consolidated financial statements, during the years ended December 31:

 

(In Thousands, except for store data)    2012      2011      2010  

Number of stores acquired, net

     22         52         14   

Aggregate purchase price (primarily cash consideration)

   $ 31,617       $ 41,425       $ 17,891   

Purchase price allocation:

        

Lease Merchandise

     11,936         13,385         6,489   

Property, Plant and Equipment

     739         500         334   

Other Current Assets and Current Liabilities

     38         34         43   

Identifiable Intangible Assets 1:

        

Customer Relationships

     1,725         2,675         748   

Non-Compete Agreements

     1,201         1,688         541   

Acquired Franchise Development Rights

     764         255         496   

Goodwill2

     15,214         22,888         9,240   

 

1 

The weighted-average amortization period for the Company’s acquired intangible assets was 3.1 years, 2.6 years and 3.5 years in 2012, 2011 and 2010, respectively. The weighted-average amortization period by major intangible asset class for acquisitions completed during 2012, 2011 and 2010 was 2 years for customer relationships, 3 years for non-compete agreements and a range of 6 years to 6.9 years for acquired franchise development rights.

2 

Goodwill is primarily attributable to synergies expected to arise after the acquisition. All goodwill resulting from the Company’s 2012, 2011 and 2010 acquisitions is expected to be deductible for tax purposes.