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10-Q Filing

UPBOUND GROUP, INC. CIK: 933036 Q1 2021
Filing Information
Form Type 10-Q
Accession Number 0000933036-21-000147
Period End Date 20210331
Filing Date 20210507
Fiscal Year 2021
Fiscal Period Q1
XBRL Instance rcii-20210331_htm.xml
Balance Sheet 66 line items
Line Item Tag Value Unit Period
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $123.02M USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $70.49M USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $182.92M USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $159.45M USD Point-in-time
Receivables, net of allowance for doubtful accounts of $7,981 and $8,047 in 2021 and 2020, respectively AccountsReceivableNet $115.34M USD Point-in-time
Receivables, net of allowance for doubtful accounts of $7,981 and $8,047 in 2021 and 2020, respectively AccountsReceivableNet $90.00M USD Point-in-time
Allowance for doubtful accounts AllowanceForDoubtfulAccountsReceivable $7.98M USD Point-in-time
Allowance for doubtful accounts AllowanceForDoubtfulAccountsReceivable $8.05M USD Point-in-time
Prepaid expenses and other assets PrepaidExpenseAndOtherAssets $40.84M USD Point-in-time
Prepaid expenses and other assets PrepaidExpenseAndOtherAssets $50.01M USD Point-in-time
On rent RentalMerchandiseOnRentNet $1.12B USD Point-in-time
On rent RentalMerchandiseOnRentNet $762.89M USD Point-in-time
Held for rent RentalMerchandiseHeldForRentNet $146.27M USD Point-in-time
Held for rent RentalMerchandiseHeldForRentNet $135.24M USD Point-in-time
Merchandise held for installment sale RetailRelatedInventoryMerchandise $5.73M USD Point-in-time
Merchandise held for installment sale RetailRelatedInventoryMerchandise $5.44M USD Point-in-time
Property assets, net of accumulated depreciation of $517,765 and $505,074 in 2021 and 2020, respectively PropertyPlantAndEquipmentNet $141.64M USD Point-in-time
Property assets, net of accumulated depreciation of $517,765 and $505,074 in 2021 and 2020, respectively PropertyPlantAndEquipmentNet $309.86M USD Point-in-time
Property assets, accumulated depreciation AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment $517.76M USD Point-in-time
Property assets, accumulated depreciation AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment $505.07M USD Point-in-time
Operating lease right-of-use assets OperatingLeaseRightOfUseAsset $283.42M USD Point-in-time
Operating lease right-of-use assets OperatingLeaseRightOfUseAsset $297.58M USD Point-in-time
Deferred tax asset DeferredIncomeTaxAssetsNet $33.78M USD Point-in-time
Deferred tax asset DeferredIncomeTaxAssetsNet $37.74M USD Point-in-time
Goodwill Goodwill $70.22M USD Point-in-time
Goodwill Goodwill $311.99M USD Point-in-time
Other intangible assets, net FiniteLivedIntangibleAssetsNet $513.71M USD Point-in-time
Other intangible assets, net FiniteLivedIntangibleAssetsNet $7.87M USD Point-in-time
Total Assets Assets $1.75B USD Point-in-time
Total Assets Assets $3.01B USD Point-in-time
Accounts payable - trade AccountsPayableCurrentAndNoncurrent $179.93M USD Point-in-time
Accounts payable - trade AccountsPayableCurrentAndNoncurrent $186.06M USD Point-in-time
Accrued liabilities AccruedLiabilitiesCurrentAndNoncurrent $320.58M USD Point-in-time
Accrued liabilities AccruedLiabilitiesCurrentAndNoncurrent $381.26M USD Point-in-time
Operating lease liabilities OperatingLeaseLiability $285.35M USD Point-in-time
Operating lease liabilities OperatingLeaseLiability $299.89M USD Point-in-time
Deferred tax liability DeferredTaxLiabilitiesTaxDeferredIncome $176.41M USD Point-in-time
Deferred tax liability DeferredTaxLiabilitiesTaxDeferredIncome $71.26M USD Point-in-time
Senior debt, net SecuredDebtNet $190.49M USD Point-in-time
Senior debt, net SecuredDebtNet $897.91M USD Point-in-time
Senior notes, net SeniorNotesNet - USD Point-in-time
Senior notes, net SeniorNotesNet $434.51M USD Point-in-time
Total Liabilities Liabilities $2.26B USD Point-in-time
Total Liabilities Liabilities $1.16B USD Point-in-time
Common stock, $.01 par value; 250,000,000 shares authorized; 124,193,049 and 112,180,517 shares issued in March 31, 2021 and December 31, 2020, respectively CommonStockValue $1.10M USD Point-in-time
Common stock, $.01 par value; 250,000,000 shares authorized; 124,193,049 and 112,180,517 shares issued in March 31, 2021 and December 31, 2020, respectively CommonStockValue $1.14M USD Point-in-time
Common stock - par value CommonStockParOrStatedValuePerShare $0.01 USD Point-in-time
Common stock - par value CommonStockParOrStatedValuePerShare $0.01 USD Point-in-time
Common stock - shares authorized CommonStockSharesAuthorized 250.00M shares Point-in-time
Common stock - shares authorized CommonStockSharesAuthorized 250.00M shares Point-in-time
Common stock - shares issued CommonStockSharesIssued 112.18M shares Point-in-time
Common stock - shares issued CommonStockSharesIssued 124.19M shares Point-in-time
Additional paid-in capital AdditionalPaidInCapitalCommonStock $886.90M USD Point-in-time
Additional paid-in capital AdditionalPaidInCapitalCommonStock $1.02B USD Point-in-time
Retained earnings RetainedEarningsAccumulatedDeficit $1.11B USD Point-in-time
Retained earnings RetainedEarningsAccumulatedDeficit $1.09B USD Point-in-time
Treasury stock at cost, 57,891,859 shares in March 31, 2021 and December 31, 2020 TreasuryStockValue $1.38B USD Point-in-time
Treasury stock at cost, 57,891,859 shares in March 31, 2021 and December 31, 2020 TreasuryStockValue $1.38B USD Point-in-time
Treasury stock - shares at cost TreasuryStockShares 57.89M shares Point-in-time
Treasury stock - shares at cost TreasuryStockShares 57.89M shares Point-in-time
Accumulated other comprehensive loss AccumulatedOtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentNetOfTax $-11.40M USD Point-in-time
Accumulated other comprehensive loss AccumulatedOtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentNetOfTax $-12.25M USD Point-in-time
Total Stockholders' Equity StockholdersEquity $742.19M USD Point-in-time
Total Stockholders' Equity StockholdersEquity $592.08M USD Point-in-time
Total Liabilities and Stockholders' Equity LiabilitiesAndStockholdersEquity $1.75B USD Point-in-time
Total Liabilities and Stockholders' Equity LiabilitiesAndStockholdersEquity $3.01B USD Point-in-time
Income Statement 62 line items
Line Item Tag Value Unit Period
Rentals and fees RentalsAndFees $745.53M USD 1 Quarter
Rentals and fees RentalsAndFees $568.00M USD 1 Quarter
Merchandise sales MerchandiseSales $232.79M USD 1 Quarter
Merchandise sales MerchandiseSales $101.38M USD 1 Quarter
Installment sales InstallmentSales $17.77M USD 1 Quarter
Installment sales InstallmentSales $14.75M USD 1 Quarter
Other OtherStoreRevenue $722.00K USD 1 Quarter
Other OtherStoreRevenue $918.00K USD 1 Quarter
Total store revenues Storerevenues $684.85M USD 1 Quarter
Total store revenues Storerevenues $997.02M USD 1 Quarter
Merchandise sales FranchiseMerchandiseSales $33.05M USD 1 Quarter
Merchandise sales FranchiseMerchandiseSales $12.44M USD 1 Quarter
Royalty income and fees FranchiseRoyaltyIncomeAndFees $6.71M USD 1 Quarter
Royalty income and fees FranchiseRoyaltyIncomeAndFees $4.65M USD 1 Quarter
Total revenues Revenues $701.94M USD 1 Quarter
Total revenues Revenues $1.04B USD 1 Quarter
Cost of rentals and fees CostOfRentalsAndFees $247.03M USD 1 Quarter
Cost of rentals and fees CostOfRentalsAndFees $165.46M USD 1 Quarter
Cost of merchandise sold CostOfMerchandiseSold $98.76M USD 1 Quarter
Cost of merchandise sold CostOfMerchandiseSold $240.11M USD 1 Quarter
Cost of installment sales CostOfInstallmentSales $6.04M USD 1 Quarter
Cost of installment sales CostOfInstallmentSales $5.03M USD 1 Quarter
Total cost of store revenues Costofstorerevenues $269.24M USD 1 Quarter
Total cost of store revenues Costofstorerevenues $493.18M USD 1 Quarter
Franchise cost of merchandise sold FranchiseCostOfMerchandiseSold $33.08M USD 1 Quarter
Franchise cost of merchandise sold FranchiseCostOfMerchandiseSold $12.52M USD 1 Quarter
Total cost of revenues CostOfRevenue $526.26M USD 1 Quarter
Total cost of revenues CostOfRevenue $281.76M USD 1 Quarter
Gross profit GrossProfit $510.52M USD 1 Quarter
Gross profit GrossProfit $420.18M USD 1 Quarter
Labor LaborAndRelatedExpense $156.71M USD 1 Quarter
Labor LaborAndRelatedExpense $153.79M USD 1 Quarter
Other store expenses OtherSellingGeneralAndAdministrativeExpense $170.13M USD 1 Quarter
Other store expenses OtherSellingGeneralAndAdministrativeExpense $161.72M USD 1 Quarter
General and administrative expenses GeneralAndAdministrativeExpense $39.17M USD 1 Quarter
General and administrative expenses GeneralAndAdministrativeExpense $49.12M USD 1 Quarter
Depreciation and amortization DepreciationAndAmortization $14.91M USD 1 Quarter
Depreciation and amortization DepreciationAndAmortization $13.39M USD 1 Quarter
Other charges RestructuringCostsAndAssetImpairmentCharges $1.70M USD 1 Quarter
Other charges RestructuringCostsAndAssetImpairmentCharges $51.12M USD 1 Quarter
Total operating expenses OperatingExpenses $440.48M USD 1 Quarter
Total operating expenses OperatingExpenses $371.30M USD 1 Quarter
Operating profit OperatingIncomeLoss $70.05M USD 1 Quarter
Operating profit OperatingIncomeLoss $48.88M USD 1 Quarter
Debt refinancing charges FinanceChargesFromRefinancing - USD 1 Quarter
Debt refinancing charges FinanceChargesFromRefinancing $8.74M USD 1 Quarter
Interest expense InterestExpense $4.45M USD 1 Quarter
Interest expense InterestExpense $11.99M USD 1 Quarter
Interest income InvestmentIncomeInterest $74.00K USD 1 Quarter
Interest income InvestmentIncomeInterest $144.00K USD 1 Quarter
Earnings before income taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments $44.57M USD 1 Quarter
Earnings before income taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments $49.39M USD 1 Quarter
Income tax expense (benefit) IncomeTaxExpenseBenefit $-4.72M USD 1 Quarter
Income tax expense (benefit) IncomeTaxExpenseBenefit $6.83M USD 1 Quarter
Net earnings NetIncomeLoss $42.55M USD 1 Quarter
Net earnings NetIncomeLoss $49.29M USD 1 Quarter
Basic earnings per common share EarningsPerShareBasic $0.90 USD 1 Quarter
Basic earnings per common share EarningsPerShareBasic $0.76 USD 1 Quarter
Diluted earnings per common share EarningsPerShareDiluted $0.64 USD 1 Quarter
Diluted earnings per common share EarningsPerShareDiluted $0.88 USD 1 Quarter
Cash dividends declared per common share CommonStockDividendsPerShareDeclared - USD 1 Quarter
Cash dividends declared per common share CommonStockDividendsPerShareDeclared $0.31 USD 1 Quarter
Cash Flow Statement 70 line items
Line Item Tag Value Unit Period
Net earnings NetIncomeLoss $42.55M USD 1 Quarter
Net earnings NetIncomeLoss $49.29M USD 1 Quarter
Depreciation of rental merchandise DepreciationOfRentalMerchandise $237.64M USD 1 Quarter
Depreciation of rental merchandise DepreciationOfRentalMerchandise $160.44M USD 1 Quarter
Bad debt expense ProvisionForDoubtfulAccounts $3.75M USD 1 Quarter
Bad debt expense ProvisionForDoubtfulAccounts $3.45M USD 1 Quarter
Stock-based compensation expense ShareBasedCompensation $3.04M USD 1 Quarter
Stock-based compensation expense ShareBasedCompensation $20.15M USD 1 Quarter
Depreciation of property assets Depreciation $14.46M USD 1 Quarter
Depreciation of property assets Depreciation $14.60M USD 1 Quarter
Loss on sale or disposal of property assets GainLossOnSaleOfPropertyPlantEquipment $-165.00K USD 1 Quarter
Loss on sale or disposal of property assets GainLossOnSaleOfPropertyPlantEquipment $-558.00K USD 1 Quarter
Amortization of intangibles AmortizationOfIntangibleAssets $319.00K USD 1 Quarter
Amortization of intangibles AmortizationOfIntangibleAssets $14.19M USD 1 Quarter
Amortization of financing fees AmortizationOfFinancingCosts $408.00K USD 1 Quarter
Amortization of financing fees AmortizationOfFinancingCosts $1.12M USD 1 Quarter
Write-off of debt financing fees OtherAmortizationOfDeferredCharges $4.55M USD 1 Quarter
Write-off of debt financing fees OtherAmortizationOfDeferredCharges - USD 1 Quarter
Deferred income taxes DeferredIncomeTaxesAndTaxCredits $3.85M USD 1 Quarter
Deferred income taxes DeferredIncomeTaxesAndTaxCredits $-121.00K USD 1 Quarter
Rental merchandise IncreaseDecreaseInRentalMerchandise $222.05M USD 1 Quarter
Rental merchandise IncreaseDecreaseInRentalMerchandise $106.74M USD 1 Quarter
Receivables IncreaseDecreaseInAccountsReceivable $-1.67M USD 1 Quarter
Receivables IncreaseDecreaseInAccountsReceivable $-7.27M USD 1 Quarter
Prepaid expenses and other assets IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets $-9.93M USD 1 Quarter
Prepaid expenses and other assets IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets $-5.93M USD 1 Quarter
Operating lease right-of-use assets and lease liabilities IncreaseDecreaseofOperatingLeasesNet $171.00K USD 1 Quarter
Operating lease right-of-use assets and lease liabilities IncreaseDecreaseofOperatingLeasesNet $-3.70M USD 1 Quarter
Accounts payable - trade IncreaseDecreaseInAccountsPayableTrade $-22.15M USD 1 Quarter
Accounts payable - trade IncreaseDecreaseInAccountsPayableTrade $-61.27M USD 1 Quarter
Accrued liabilities IncreaseDecreaseInAccruedLiabilities $26.45M USD 1 Quarter
Accrued liabilities IncreaseDecreaseInAccruedLiabilities $-33.80M USD 1 Quarter
Net cash provided by operating activities NetCashProvidedByUsedInOperatingActivities $47.40M USD 1 Quarter
Net cash provided by operating activities NetCashProvidedByUsedInOperatingActivities $135.79M USD 1 Quarter
Purchase of property assets PaymentsToAcquirePropertyPlantAndEquipment $9.15M USD 1 Quarter
Purchase of property assets PaymentsToAcquirePropertyPlantAndEquipment $11.39M USD 1 Quarter
Proceeds from sale of property assets ProceedsFromSaleOfPropertyPlantAndEquipment - USD 1 Quarter
Proceeds from sale of property assets ProceedsFromSaleOfPropertyPlantAndEquipment $187.00K USD 1 Quarter
Acquisitions of businesses PaymentsToAcquireBusinessesNetOfCashAcquired $1.27B USD 1 Quarter
Acquisitions of businesses PaymentsToAcquireBusinessesNetOfCashAcquired - USD 1 Quarter
Net cash used in investing activities NetCashProvidedByUsedInInvestingActivities $-1.28B USD 1 Quarter
Net cash used in investing activities NetCashProvidedByUsedInInvestingActivities $-8.96M USD 1 Quarter
Share repurchases PaymentsForRepurchaseOfCommonStock $26.51M USD 1 Quarter
Share repurchases PaymentsForRepurchaseOfCommonStock - USD 1 Quarter
Exercise of stock options ProceedsFromStockOptionsExercised $1.19M USD 1 Quarter
Exercise of stock options ProceedsFromStockOptionsExercised $8.94M USD 1 Quarter
Shares withheld for payment of employee tax withholdings PaymentsRelatedToTaxWithholdingForShareBasedCompensation $5.27M USD 1 Quarter
Shares withheld for payment of employee tax withholdings PaymentsRelatedToTaxWithholdingForShareBasedCompensation $20.90M USD 1 Quarter
Debt issuance costs PaymentsOfDebtIssuanceCosts - USD 1 Quarter
Debt issuance costs PaymentsOfDebtIssuanceCosts $46.09M USD 1 Quarter
Proceeds from debt ProceedsFromIssuanceOfSecuredDebt $198.00M USD 1 Quarter
Proceeds from debt ProceedsFromIssuanceOfSecuredDebt $1.49B USD 1 Quarter
Repayments of debt RepaymentsOfSecuredDebt $75.50M USD 1 Quarter
Repayments of debt RepaymentsOfSecuredDebt $307.50M USD 1 Quarter
Dividends paid PaymentsOfDividends $15.91M USD 1 Quarter
Dividends paid PaymentsOfDividends $17.12M USD 1 Quarter
Net cash provided by financing activities NetCashProvidedByUsedInFinancingActivities $76.00M USD 1 Quarter
Net cash provided by financing activities NetCashProvidedByUsedInFinancingActivities $1.11B USD 1 Quarter
Effect of exchange rate changes on cash EffectOfExchangeRateOnCashAndCashEquivalents $-2.01M USD 1 Quarter
Effect of exchange rate changes on cash EffectOfExchangeRateOnCashAndCashEquivalents $-272.00K USD 1 Quarter
Net (decrease) increase in cash and cash equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect $112.42M USD 1 Quarter
Net (decrease) increase in cash and cash equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect $-36.43M USD 1 Quarter
Cash and cash equivalents at beginning of period CashAndCashEquivalentsAtCarryingValue $123.02M USD Point-in-time
Cash and cash equivalents at beginning of period CashAndCashEquivalentsAtCarryingValue $70.49M USD Point-in-time
Cash and cash equivalents at beginning of period CashAndCashEquivalentsAtCarryingValue $182.92M USD Point-in-time
Cash and cash equivalents at beginning of period CashAndCashEquivalentsAtCarryingValue $159.45M USD Point-in-time
Cash and cash equivalents at end of period CashAndCashEquivalentsAtCarryingValue $123.02M USD Point-in-time
Cash and cash equivalents at end of period CashAndCashEquivalentsAtCarryingValue $70.49M USD Point-in-time
Cash and cash equivalents at end of period CashAndCashEquivalentsAtCarryingValue $182.92M USD Point-in-time
Cash and cash equivalents at end of period CashAndCashEquivalentsAtCarryingValue $159.45M USD Point-in-time
Stockholders Equity 17 line items
Line Item Tag Value Unit Period
Total stockholders' equity StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $592.08M USD Point-in-time
Total stockholders' equity StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $742.19M USD Point-in-time
Total stockholders' equity StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $476.02M USD Point-in-time
Total stockholders' equity StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $458.96M USD Point-in-time
Net earnings NetIncomeLoss $42.55M USD 1 Quarter
Net earnings NetIncomeLoss $49.29M USD 1 Quarter
Other comprehensive loss OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent $-3.91M USD 1 Quarter
Other comprehensive loss OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent $-853.00K USD 1 Quarter
Purchase of treasury stock TreasuryStockValueAcquiredCostMethod $26.52M USD 1 Quarter
Exercise of stock options StockIssuedDuringPeriodValueStockOptionsExercised $8.94M USD 1 Quarter
Exercise of stock options StockIssuedDuringPeriodValueStockOptionsExercised $1.20M USD 1 Quarter
Vesting of restricted share units, net of shares withheld for employee taxes StockIssuedDuringPeriodValueRestrictedStockAwardNetOfForfeitures $-5.27M USD 1 Quarter
Vesting of restricted share units, net of shares withheld for employee taxes StockIssuedDuringPeriodValueRestrictedStockAwardNetOfForfeitures $-20.90M USD 1 Quarter
Stock-based compensation AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationStockOptionsRequisiteServicePeriodRecognition $3.04M USD 1 Quarter
Stock-based compensation AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationStockOptionsRequisiteServicePeriodRecognition $20.15M USD 1 Quarter
Dividends declared DividendsCommonStockCash $20.72M USD 1 Quarter
Acima Acquisition StockIssuedDuringPeriodValueAcquisitions $120.94M USD 1 Quarter
Comprehensive Income 10 line items
Line Item Tag Value Unit Period
Net earnings NetIncomeLoss $42.55M USD 1 Quarter
Net earnings NetIncomeLoss $49.29M USD 1 Quarter
Foreign currency translation adjustments, net of tax of $(227) and $(1,038) for the three months ended March 31, 2021 and 2020, respectively OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax $-3.91M USD 1 Quarter
Foreign currency translation adjustments, net of tax of $(227) and $(1,038) for the three months ended March 31, 2021 and 2020, respectively OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax $-853.00K USD 1 Quarter
foreign currency translation tax adjustment OtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentTax $-227.00K USD 1 Quarter
foreign currency translation tax adjustment OtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentTax $-1.04M USD 1 Quarter
Total other comprehensive loss OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent $-3.91M USD 1 Quarter
Total other comprehensive loss OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent $-853.00K USD 1 Quarter
Comprehensive income ComprehensiveIncomeNetOfTax $45.39M USD 1 Quarter
Comprehensive income ComprehensiveIncomeNetOfTax $41.70M USD 1 Quarter

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.

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