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10-Q Filing

UPBOUND GROUP, INC. CIK: 933036 Q1 2023
Filing Information
Form Type 10-Q
Accession Number 0000933036-23-000104
Period End Date 20230331
Filing Date 20230504
Fiscal Year 2023
Fiscal Period Q1
XBRL Instance upbd-20230331_htm.xml
Balance Sheet 64 line items
Line Item Tag Value Unit Period
Allowance for doubtful accounts AllowanceForDoubtfulAccountsReceivable $13.21M USD Point-in-time
Allowance for doubtful accounts AllowanceForDoubtfulAccountsReceivable $12.94M USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $171.70M USD Point-in-time
Property assets, accumulated depreciation AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment $592.05M USD Point-in-time
Property assets, accumulated depreciation AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment $576.67M USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $144.14M 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
Receivables, net of allowance for doubtful accounts of $12,937 and $13,214 in 2023 and 2022, respectively AccountsReceivableNet $111.86M USD Point-in-time
Receivables, net of allowance for doubtful accounts of $12,937 and $13,214 in 2023 and 2022, respectively AccountsReceivableNet $101.77M USD Point-in-time
Prepaid expenses and other assets PrepaidExpenseAndOtherAssets $44.83M USD Point-in-time
Common Stock, Shares, Issued CommonStockSharesIssued 125.03M shares Point-in-time
Prepaid expenses and other assets PrepaidExpenseAndOtherAssets $46.07M USD Point-in-time
Common Stock, Shares, Issued CommonStockSharesIssued 125.29M shares Point-in-time
Treasury Stock, Shares TreasuryStockCommonShares 69.35M shares Point-in-time
Treasury Stock, Shares TreasuryStockCommonShares 69.35M shares Point-in-time
On rent RentalMerchandiseOnRentNet $989.87M USD Point-in-time
Common Stock, Par Value Per Share CommonStockParOrStatedValuePerShare $0.01 USD Point-in-time
Common Stock, Par Value Per Share CommonStockParOrStatedValuePerShare $0.01 USD Point-in-time
On rent RentalMerchandiseOnRentNet $943.49M USD Point-in-time
Held for rent RentalMerchandiseHeldForRentNet $126.76M USD Point-in-time
Held for rent RentalMerchandiseHeldForRentNet $134.96M USD Point-in-time
Merchandise held for installment sale RetailRelatedInventoryMerchandise $6.99M USD Point-in-time
Merchandise held for installment sale RetailRelatedInventoryMerchandise $6.11M USD Point-in-time
Property assets, net of accumulated depreciation of $592,048 and $576,675 in 2023 and 2022, respectively PropertyPlantAndEquipmentNet $295.37M USD Point-in-time
Property assets, net of accumulated depreciation of $592,048 and $576,675 in 2023 and 2022, respectively PropertyPlantAndEquipmentNet $287.96M USD Point-in-time
Operating lease right-of-use assets OperatingLeaseRightOfUseAsset $302.31M USD Point-in-time
Operating lease right-of-use assets OperatingLeaseRightOfUseAsset $300.73M USD Point-in-time
Deferred tax asset DeferredIncomeTaxAssetsNet $82.89M USD Point-in-time
Deferred tax asset DeferredIncomeTaxAssetsNet $123.11M USD Point-in-time
Goodwill Goodwill $289.75M USD Point-in-time
Goodwill Goodwill $289.75M USD Point-in-time
Other intangible assets, net FiniteLivedIntangibleAssetsNet $344.92M USD Point-in-time
Other intangible assets, net FiniteLivedIntangibleAssetsNet $359.41M USD Point-in-time
Total assets Assets $2.76B USD Point-in-time
Total assets Assets $2.74B USD Point-in-time
Accounts payable trade AccountsPayableCurrentAndNoncurrent $155.45M USD Point-in-time
Accounts payable trade AccountsPayableCurrentAndNoncurrent $118.66M USD Point-in-time
Accrued liabilities AccruedLiabilitiesCurrentAndNoncurrent $320.62M USD Point-in-time
Accrued liabilities AccruedLiabilitiesCurrentAndNoncurrent $319.68M USD Point-in-time
Operating lease liabilities OperatingLeaseLiability $304.06M USD Point-in-time
Operating lease liabilities OperatingLeaseLiability $305.56M USD Point-in-time
Deferred tax liability DeferredTaxLiabilitiesTaxDeferredIncome - USD Point-in-time
Deferred tax liability DeferredTaxLiabilitiesTaxDeferredIncome $87.99M USD Point-in-time
Senior debt, net SecuredDebtNet $930.90M USD Point-in-time
Senior debt, net SecuredDebtNet $889.95M USD Point-in-time
Senior notes, net SeniorNotesNet $438.44M USD Point-in-time
Senior notes, net SeniorNotesNet $437.96M USD Point-in-time
Total liabilities Liabilities $2.24B USD Point-in-time
Total liabilities Liabilities $2.07B USD Point-in-time
Common stock, $0.01 par value; 250,000,000 shares authorized; 125,286,720 and 125,028,169 shares issued in March 31, 2023 and December 31, 2022, respectively CommonStockValue $1.08M USD Point-in-time
Common stock, $0.01 par value; 250,000,000 shares authorized; 125,286,720 and 125,028,169 shares issued in March 31, 2023 and December 31, 2022, respectively CommonStockValue $1.11M USD Point-in-time
Additional paid-in capital AdditionalPaidInCapitalCommonStock $1.41B USD Point-in-time
Additional paid-in capital AdditionalPaidInCapitalCommonStock $1.30B USD Point-in-time
Retained earnings RetainedEarningsAccumulatedDeficit $1.11B USD Point-in-time
Retained earnings RetainedEarningsAccumulatedDeficit $1.08B USD Point-in-time
Treasury stock at cost, 69,354,651 shares in March 31, 2023 and December 31, 2022 TreasuryStockValue $1.84B USD Point-in-time
Treasury stock at cost, 69,354,651 shares in March 31, 2023 and December 31, 2022 TreasuryStockValue $1.84B USD Point-in-time
Accumulated other comprehensive loss AccumulatedOtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentNetOfTax $-7.52M USD Point-in-time
Accumulated other comprehensive loss AccumulatedOtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentNetOfTax $-10.63M USD Point-in-time
Total Stockholders' Equity StockholdersEquity $670.34M USD Point-in-time
Total Stockholders' Equity StockholdersEquity $525.15M USD Point-in-time
Total Liabilities and Stockholders' Equity LiabilitiesAndStockholdersEquity $2.76B USD Point-in-time
Total Liabilities and Stockholders' Equity LiabilitiesAndStockholdersEquity $2.74B USD Point-in-time
Income Statement 60 line items
Line Item Tag Value Unit Period
Rentals and fees RentalsAndFees $883.05M USD 1 Quarter
Rentals and fees RentalsAndFees $806.72M USD 1 Quarter
Merchandise sales MerchandiseSales $162.99M USD 1 Quarter
Merchandise sales MerchandiseSales $232.88M USD 1 Quarter
Installment sales InstallmentSales $15.85M USD 1 Quarter
Installment sales InstallmentSales $17.09M USD 1 Quarter
Other OtherStoreRevenue $1.29M USD 1 Quarter
Other OtherStoreRevenue $1.45M USD 1 Quarter
Total store revenues Storerevenues $987.00M USD 1 Quarter
Total store revenues Storerevenues $1.13B USD 1 Quarter
Merchandise sales FranchiseMerchandiseSales $18.52M USD 1 Quarter
Merchandise sales FranchiseMerchandiseSales $22.83M USD 1 Quarter
Royalty income and fees FranchiseRoyaltyIncomeAndFees $6.24M USD 1 Quarter
Royalty income and fees FranchiseRoyaltyIncomeAndFees $6.89M USD 1 Quarter
Total revenues Revenues $1.16B USD 1 Quarter
Total revenues Revenues $1.02B USD 1 Quarter
Cost of rentals and fees CostOfRentalsAndFees $338.63M USD 1 Quarter
Cost of rentals and fees CostOfRentalsAndFees $297.15M USD 1 Quarter
Cost of merchandise sold CostOfMerchandiseSold $184.26M USD 1 Quarter
Cost of merchandise sold CostOfMerchandiseSold $250.33M USD 1 Quarter
Cost of installment sales CostOfInstallmentSales $5.92M USD 1 Quarter
Cost of installment sales CostOfInstallmentSales $5.62M USD 1 Quarter
Total cost of store revenues Costofstorerevenues $487.02M USD 1 Quarter
Total cost of store revenues Costofstorerevenues $594.88M USD 1 Quarter
Franchise cost of merchandise sold FranchiseCostOfMerchandiseSold $22.77M USD 1 Quarter
Franchise cost of merchandise sold FranchiseCostOfMerchandiseSold $18.74M USD 1 Quarter
Total cost of revenues CostOfRevenue $509.80M USD 1 Quarter
Total cost of revenues CostOfRevenue $613.63M USD 1 Quarter
Gross profit GrossProfit $546.10M USD 1 Quarter
Gross profit GrossProfit $506.26M USD 1 Quarter
Labor LaborAndRelatedExpense $166.60M USD 1 Quarter
Labor LaborAndRelatedExpense $156.49M USD 1 Quarter
Other store expenses OtherSellingGeneralAndAdministrativeExpense $227.37M USD 1 Quarter
Other store expenses OtherSellingGeneralAndAdministrativeExpense $196.71M USD 1 Quarter
General and administrative expenses GeneralAndAdministrativeExpense $56.40M USD 1 Quarter
General and administrative expenses GeneralAndAdministrativeExpense $47.73M USD 1 Quarter
Depreciation and amortization DepreciationAndAmortization $12.88M USD 1 Quarter
Depreciation and amortization DepreciationAndAmortization $14.53M USD 1 Quarter
Other charges RestructuringCostsAndAssetImpairmentCharges $127.57M USD 1 Quarter
Other charges RestructuringCostsAndAssetImpairmentCharges $70.15M USD 1 Quarter
Total operating expenses OperatingExpenses $541.38M USD 1 Quarter
Total operating expenses OperatingExpenses $535.05M USD 1 Quarter
Operating (loss) profit OperatingIncomeLoss $-35.11M USD 1 Quarter
Operating (loss) profit OperatingIncomeLoss $11.04M USD 1 Quarter
Interest expense InterestExpense $18.97M USD 1 Quarter
Interest expense InterestExpense $28.10M USD 1 Quarter
Interest income InvestmentIncomeInterest $420.00K USD 1 Quarter
Interest income InvestmentIncomeInterest $45.00K USD 1 Quarter
Loss before income taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest $-62.79M USD 1 Quarter
Loss before income taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest $-7.88M USD 1 Quarter
Income tax benefit IncomeTaxExpenseBenefit $-110.12M USD 1 Quarter
Income tax benefit IncomeTaxExpenseBenefit $-3.65M USD 1 Quarter
Net earnings (loss) NetIncomeLoss $47.33M USD 1 Quarter
Net earnings (loss) NetIncomeLoss $-4.24M USD 1 Quarter
Basic earnings (loss) per common share EarningsPerShareBasic $0.86 USD 1 Quarter
Basic earnings (loss) per common share EarningsPerShareBasic $-0.08 USD 1 Quarter
Diluted earnings (loss) per common share EarningsPerShareDiluted $0.84 USD 1 Quarter
Diluted earnings (loss) per common share EarningsPerShareDiluted $-0.08 USD 1 Quarter
Cash dividends declared per common share CommonStockDividendsPerShareDeclared $0.34 USD 1 Quarter
Cash dividends declared per common share CommonStockDividendsPerShareDeclared $0.34 USD 1 Quarter
Cash Flow Statement 62 line items
Line Item Tag Value Unit Period
Net earnings (loss) NetIncomeLoss $47.33M USD 1 Quarter
Net earnings (loss) NetIncomeLoss $-4.24M USD 1 Quarter
Depreciation of rental merchandise DepreciationOfRentalMerchandise $288.43M USD 1 Quarter
Depreciation of rental merchandise DepreciationOfRentalMerchandise $327.44M USD 1 Quarter
Bad debt expense ProvisionForDoubtfulAccounts $5.86M USD 1 Quarter
Bad debt expense ProvisionForDoubtfulAccounts $4.97M USD 1 Quarter
Stock-based compensation expense ShareBasedCompensation $115.68M USD 1 Quarter
Stock-based compensation expense ShareBasedCompensation $41.41M USD 1 Quarter
Depreciation of property assets Depreciation $18.25M USD 1 Quarter
Depreciation of property assets Depreciation $16.61M USD 1 Quarter
Loss on sale or disposal of property assets GainLossOnSaleOfPropertyPlantEquipment $-4.34M USD 1 Quarter
Loss on sale or disposal of property assets GainLossOnSaleOfPropertyPlantEquipment $-332.00K USD 1 Quarter
Amortization of intangibles AmortizationOfIntangibleAssets $22.37M USD 1 Quarter
Amortization of intangibles AmortizationOfIntangibleAssets $14.51M USD 1 Quarter
Amortization of financing fees AmortizationOfFinancingCosts $1.56M USD 1 Quarter
Amortization of financing fees AmortizationOfFinancingCosts $1.57M USD 1 Quarter
Deferred income taxes DeferredIncomeTaxesAndTaxCredits $-129.06M USD 1 Quarter
Deferred income taxes DeferredIncomeTaxesAndTaxCredits $-16.61M USD 1 Quarter
Rental merchandise IncreaseDecreaseInRentalMerchandise $232.94M USD 1 Quarter
Rental merchandise IncreaseDecreaseInRentalMerchandise $165.30M USD 1 Quarter
Receivables IncreaseDecreaseInAccountsReceivable $-4.23M USD 1 Quarter
Receivables IncreaseDecreaseInAccountsReceivable $-220.00K USD 1 Quarter
Prepaid expenses and other assets IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets $-16.00M USD 1 Quarter
Prepaid expenses and other assets IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets $-1.24M USD 1 Quarter
Operating lease right-of-use assets and lease liabilities IncreaseDecreaseofOperatingLeasesNet $-87.00K USD 1 Quarter
Operating lease right-of-use assets and lease liabilities IncreaseDecreaseofOperatingLeasesNet $3.26M USD 1 Quarter
Accounts payable trade IncreaseDecreaseInAccountsPayableTrade $-36.80M USD 1 Quarter
Accounts payable trade IncreaseDecreaseInAccountsPayableTrade $-4.95M USD 1 Quarter
Accrued liabilities IncreaseDecreaseInAccruedLiabilities $8.34M USD 1 Quarter
Accrued liabilities IncreaseDecreaseInAccruedLiabilities $-36.91M USD 1 Quarter
Net cash provided by operating activities NetCashProvidedByUsedInOperatingActivities $105.42M USD 1 Quarter
Net cash provided by operating activities NetCashProvidedByUsedInOperatingActivities $205.29M USD 1 Quarter
Purchase of property assets PaymentsToAcquirePropertyPlantAndEquipment $9.53M USD 1 Quarter
Purchase of property assets PaymentsToAcquirePropertyPlantAndEquipment $16.40M USD 1 Quarter
Proceeds from sale of property assets ProceedsFromSaleOfPropertyPlantAndEquipment $6.00K USD 1 Quarter
Proceeds from sale of property assets ProceedsFromSaleOfPropertyPlantAndEquipment $3.00K USD 1 Quarter
Acquisitions of businesses PaymentsToAcquireBusinessesNetOfCashAcquired $324.00K USD 1 Quarter
Acquisitions of businesses PaymentsToAcquireBusinessesNetOfCashAcquired $39.00K USD 1 Quarter
Net cash used in investing activities NetCashProvidedByUsedInInvestingActivities $-16.72M USD 1 Quarter
Net cash used in investing activities NetCashProvidedByUsedInInvestingActivities $-9.57M USD 1 Quarter
Exercise of stock options ProceedsFromStockOptionsExercised $684.00K USD 1 Quarter
Exercise of stock options ProceedsFromStockOptionsExercised $477.00K USD 1 Quarter
Shares withheld for payment of employee tax withholdings PaymentsRelatedToTaxWithholdingForShareBasedCompensation $8.47M USD 1 Quarter
Shares withheld for payment of employee tax withholdings PaymentsRelatedToTaxWithholdingForShareBasedCompensation $2.54M USD 1 Quarter
Repayments of debt RepaymentsOfSecuredDebt $42.04M USD 1 Quarter
Repayments of debt RepaymentsOfSecuredDebt $172.19M USD 1 Quarter
Dividends paid PaymentsOfDividends $21.11M USD 1 Quarter
Dividends paid PaymentsOfDividends $25.52M USD 1 Quarter
Net cash used in financing activities NetCashProvidedByUsedInFinancingActivities $-69.41M USD 1 Quarter
Net cash used in financing activities NetCashProvidedByUsedInFinancingActivities $-201.28M USD 1 Quarter
Effect of exchange rate changes on cash EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $1.12M USD 1 Quarter
Effect of exchange rate changes on cash EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $64.00K USD 1 Quarter
Net increase (decrease) in cash and cash equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect $27.56M USD 1 Quarter
Net increase (decrease) in cash and cash equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect $-12.65M USD 1 Quarter
Cash and cash equivalents at beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $95.68M USD Point-in-time
Cash and cash equivalents at beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $171.70M USD Point-in-time
Cash and cash equivalents at beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $108.33M USD Point-in-time
Cash and cash equivalents at beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $144.14M USD Point-in-time
Cash and cash equivalents at end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $95.68M USD Point-in-time
Cash and cash equivalents at end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $171.70M USD Point-in-time
Cash and cash equivalents at end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $108.33M USD Point-in-time
Cash and cash equivalents at end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $144.14M USD Point-in-time
Stockholders Equity 18 line items
Line Item Tag Value Unit Period
Total stockholders' equity StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $523.06M USD Point-in-time
Total stockholders' equity StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $513.28M USD Point-in-time
Total stockholders' equity StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $670.34M USD Point-in-time
Total stockholders' equity StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $525.15M USD Point-in-time
Net earnings (loss) NetIncomeLoss $47.33M USD 1 Quarter
Net earnings (loss) NetIncomeLoss $-4.24M USD 1 Quarter
Total other comprehensive income OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent $3.10M USD 1 Quarter
Total other comprehensive income OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent $661.00K USD 1 Quarter
Exercise of stock options StockIssuedDuringPeriodValueStockOptionsExercised $477.00K USD 1 Quarter
Exercise of stock options StockIssuedDuringPeriodValueStockOptionsExercised $684.00K USD 1 Quarter
Vesting of restricted share units, net of shares withheld for employee taxes StockIssuedDuringPeriodValueRestrictedStockAwardNetOfForfeitures - USD 1 Quarter
Vesting of restricted share units, net of shares withheld for employee taxes StockIssuedDuringPeriodValueRestrictedStockAwardNetOfForfeitures - USD 1 Quarter
Tax effect of stock awards vested and options exercised AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue $-2.54M USD 1 Quarter
Tax effect of stock awards vested and options exercised AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue $-8.47M USD 1 Quarter
Stock-based compensation AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationStockOptionsRequisiteServicePeriodRecognition $41.41M USD 1 Quarter
Stock-based compensation AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationStockOptionsRequisiteServicePeriodRecognition $115.68M USD 1 Quarter
Dividends declared DividendsCommonStockCash $20.06M USD 1 Quarter
Dividends declared DividendsCommonStockCash $19.07M USD 1 Quarter
Comprehensive Income 10 line items
Line Item Tag Value Unit Period
Foreign Currency Translation Tax Adjustment OtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentTax $176.00K USD 1 Quarter
Net earnings (loss) NetIncomeLoss $47.33M USD 1 Quarter
Foreign Currency Translation Tax Adjustment OtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentTax $825.00K USD 1 Quarter
Net earnings (loss) NetIncomeLoss $-4.24M USD 1 Quarter
Foreign currency translation adjustments, net of tax of $825 and $176 for the three months ended March 31, 2023 and 2022, respectively OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax $3.10M USD 1 Quarter
Foreign currency translation adjustments, net of tax of $825 and $176 for the three months ended March 31, 2023 and 2022, respectively OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax $661.00K USD 1 Quarter
Total other comprehensive income OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent $3.10M USD 1 Quarter
Total other comprehensive income OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent $661.00K USD 1 Quarter
Comprehensive income (loss) ComprehensiveIncomeNetOfTax $50.43M USD 1 Quarter
Comprehensive income (loss) ComprehensiveIncomeNetOfTax $-3.58M USD 1 Quarter

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

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