10-Q Filing

PROG HOLDINGS, INC. CIK: 1808834 Q1 2022

Filing Information

Form Type	10-Q
Accession Number	`0001808834-22-000061`
Period End Date	20220331
Filing Date	20220427
Fiscal Year	2022
Fiscal Period	Q1
XBRL Instance	aan-20220331_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 70 Income Statement 28 Cash Flow Statement 72

Balance Sheet 70 line items

Line Item	Tag	Value	Unit	Period
Accounts receivable, allowances	`AllowanceForDoubtfulAccountsReceivable`	$56.36M	USD	Point-in-time
Accounts receivable, allowances	`AllowanceForDoubtfulAccountsReceivable`	$71.23M	USD	Point-in-time
Accounts receivable, allowances	`AllowanceForDoubtfulAccountsReceivable`	$76.51M	USD	Point-in-time
Accounts receivable, allowances	`AllowanceForDoubtfulAccountsReceivable`	$47.76M	USD	Point-in-time
Cash and Cash Equivalents	`CashAndCashEquivalentsAtCarryingValue`	$184.01M	USD	Point-in-time
Lease Merchandise, accumulated depreciation and allowances	`AccumulatedDepreciationOnLeaseMerchandise`	$473.56M	USD	Point-in-time
Lease Merchandise, accumulated depreciation and allowances	`AccumulatedDepreciationOnLeaseMerchandise`	$463.93M	USD	Point-in-time
Cash and Cash Equivalents	`CashAndCashEquivalentsAtCarryingValue`	$170.16M	USD	Point-in-time
Loans Receivable, allowances and unamortized fees	`FinancingReceivableUnamortizedFeesandAllowanceForCreditLosses`	$53.30M	USD	Point-in-time
Accounts Receivable (net of allowances of $76,507 in 2022 and $71,233 in 2021)	`AccountsReceivableNet`	$72.46M	USD	Point-in-time
Loans Receivable, allowances and unamortized fees	`FinancingReceivableUnamortizedFeesandAllowanceForCreditLosses`	$52.29M	USD	Point-in-time
Accounts Receivable (net of allowances of $76,507 in 2022 and $71,233 in 2021)	`AccountsReceivableNet`	$66.27M	USD	Point-in-time
Lease Merchandise (net of accumulated depreciation and allowances of $473,557 in 2022 and $463,929 in 2021)	`LeaseMerchandiseNet`	$645.23M	USD	Point-in-time
Common Stock, Par Value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.50	USD	Point-in-time
Lease Merchandise (net of accumulated depreciation and allowances of $473,557 in 2022 and $463,929 in 2021)	`LeaseMerchandiseNet`	$714.05M	USD	Point-in-time
Common Stock, Par Value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.50	USD	Point-in-time
Loans Receivable (net of allowances and unamortized fees of $52,286 in 2022 and $53,300 in 2021)	`NotesReceivableNet`	$116.86M	USD	Point-in-time
Common Stock, Shares Authorized (in shares)	`CommonStockSharesAuthorized`	225.00M	shares	Point-in-time
Common Stock, Shares Authorized (in shares)	`CommonStockSharesAuthorized`	225.00M	shares	Point-in-time
Loans Receivable (net of allowances and unamortized fees of $52,286 in 2022 and $53,300 in 2021)	`NotesReceivableNet`	$119.31M	USD	Point-in-time
Property, Plant and Equipment, Net	`PropertyPlantAndEquipmentNet`	$24.49M	USD	Point-in-time
Common Stock, Shares Issued (in shares)	`CommonStockSharesIssued`	82.08M	shares	Point-in-time
Common Stock, Shares Issued (in shares)	`CommonStockSharesIssued`	82.08M	shares	Point-in-time
Property, Plant and Equipment, Net	`PropertyPlantAndEquipmentNet`	$25.65M	USD	Point-in-time
Operating Lease Right-of-Use Assets	`OperatingLeaseRightOfUseAsset`	$16.53M	USD	Point-in-time
Treasury Shares (in shares)	`TreasuryStockShares`	25.64M	shares	Point-in-time
Treasury Shares (in shares)	`TreasuryStockShares`	27.66M	shares	Point-in-time
Operating Lease Right-of-Use Assets	`OperatingLeaseRightOfUseAsset`	$17.49M	USD	Point-in-time
Goodwill	`Goodwill`	$306.21M	USD	Point-in-time
Goodwill	`Goodwill`	$306.21M	USD	Point-in-time
Other Intangibles, Net	`IntangibleAssetsNetExcludingGoodwill`	$131.58M	USD	Point-in-time
Other Intangibles, Net	`IntangibleAssetsNetExcludingGoodwill`	$137.31M	USD	Point-in-time
Income Tax Receivable	`IncomeTaxReceivable`	$14.34M	USD	Point-in-time
Income Tax Receivable	`IncomeTaxReceivable`	$14.35M	USD	Point-in-time
Deferred Income Tax Assets	`DeferredIncomeTaxAssetsNet`	$2.76M	USD	Point-in-time
Deferred Income Tax Assets	`DeferredIncomeTaxAssetsNet`	$2.76M	USD	Point-in-time
Prepaid Expenses and Other Assets	`PrepaidExpenseAndOtherAssets`	$48.20M	USD	Point-in-time
Prepaid Expenses and Other Assets	`PrepaidExpenseAndOtherAssets`	$58.25M	USD	Point-in-time
Total Assets	`Assets`	$1.62B	USD	Point-in-time
Total Assets	`Assets`	$1.57B	USD	Point-in-time
Accounts Payable and Accrued Expenses	`AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent`	$134.16M	USD	Point-in-time
Accounts Payable and Accrued Expenses	`AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent`	$135.95M	USD	Point-in-time
Deferred Income Tax Liability	`DeferredIncomeTaxLiabilitiesNet`	$152.37M	USD	Point-in-time
Deferred Income Tax Liability	`DeferredIncomeTaxLiabilitiesNet`	$146.26M	USD	Point-in-time
Customer Deposits and Advance Payments	`ContractWithCustomerLiability`	$39.49M	USD	Point-in-time
Customer Deposits and Advance Payments	`ContractWithCustomerLiability`	$45.07M	USD	Point-in-time
Operating Lease Liabilities	`OperatingLeaseLiability`	$24.18M	USD	Point-in-time
Operating Lease Liabilities	`OperatingLeaseLiability`	$25.41M	USD	Point-in-time
Debt	`DebtAndCapitalLeaseObligations`	$589.99M	USD	Point-in-time
Debt	`DebtAndCapitalLeaseObligations`	$589.65M	USD	Point-in-time
Total Liabilities	`Liabilities`	$942.35M	USD	Point-in-time
Total Liabilities	`Liabilities`	$940.19M	USD	Point-in-time
Commitments and Contingencies (Note 6)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and Contingencies (Note 6)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Common Stock, Par Value $0.50 Per Share: Authorized: 225,000,000 Shares at March 31, 2022 and December 31, 2021; Shares Issued: 82,078,654 at March 31, 2022 and December 31, 2021	`CommonStockValue`	$41.04M	USD	Point-in-time
Common Stock, Par Value $0.50 Per Share: Authorized: 225,000,000 Shares at March 31, 2022 and December 31, 2021; Shares Issued: 82,078,654 at March 31, 2022 and December 31, 2021	`CommonStockValue`	$41.04M	USD	Point-in-time
Additional Paid-in Capital	`AdditionalPaidInCapitalCommonStock`	$331.06M	USD	Point-in-time
Additional Paid-in Capital	`AdditionalPaidInCapitalCommonStock`	$332.24M	USD	Point-in-time
Retained Earnings	`RetainedEarningsAccumulatedDeficit`	$1.08B	USD	Point-in-time
Retained Earnings	`RetainedEarningsAccumulatedDeficit`	$1.06B	USD	Point-in-time
Stockholders' Equity before Treasury Stock, Total	`StockholdersEquityBeforeTreasuryStock`	$1.43B	USD	Point-in-time
Stockholders' Equity before Treasury Stock, Total	`StockholdersEquityBeforeTreasuryStock`	$1.45B	USD	Point-in-time
Common Stock: 27,660,899 Shares at March 31, 2022 and 25,638,057 at December 31, 2021	`TreasuryStockValue`	$822.22M	USD	Point-in-time
Common Stock: 27,660,899 Shares at March 31, 2022 and 25,638,057 at December 31, 2021	`TreasuryStockValue`	$749.40M	USD	Point-in-time
Total Shareholders Equity	`StockholdersEquity`	$632.53M	USD	Point-in-time
Total Shareholders Equity	`StockholdersEquity`	$679.41M	USD	Point-in-time
Total Shareholders Equity	`StockholdersEquity`	$986.14M	USD	Point-in-time
Total Shareholders Equity	`StockholdersEquity`	$1.04B	USD	Point-in-time
Total Liabilities & Shareholders Equity	`LiabilitiesAndStockholdersEquity`	$1.57B	USD	Point-in-time
Total Liabilities & Shareholders Equity	`LiabilitiesAndStockholdersEquity`	$1.62B	USD	Point-in-time

Income Statement 28 line items

Line Item	Tag	Value	Unit	Period
Revenues	`Revenues`	$710.46M	USD	1 Quarter
Revenues	`Revenues`	$721.00M	USD	1 Quarter
Depreciation of Lease Merchandise	`DepreciationOfLeaseMerchandise`	$505.06M	USD	1 Quarter
Depreciation of Lease Merchandise	`DepreciationOfLeaseMerchandise`	$497.01M	USD	1 Quarter
Provision for Lease Merchandise Write-offs	`AllowanceForLoanAndLeaseLossesWriteOffs`	$50.33M	USD	1 Quarter
Provision for Lease Merchandise Write-offs	`AllowanceForLoanAndLeaseLossesWriteOffs`	$18.64M	USD	1 Quarter
Operating Expenses	`OperatingExpenses`	$91.20M	USD	1 Quarter
Operating Expenses	`OperatingExpenses`	$113.66M	USD	1 Quarter
COSTS AND EXPENSES	`CostsAndExpenses`	$614.89M	USD	1 Quarter
COSTS AND EXPENSES	`CostsAndExpenses`	$661.00M	USD	1 Quarter
OPERATING PROFIT	`OperatingIncomeLoss`	$49.47M	USD	1 Quarter
OPERATING PROFIT	`OperatingIncomeLoss`	$106.11M	USD	1 Quarter
Interest Expense	`InterestExpense`	$512.00K	USD	1 Quarter
Interest Expense	`InterestExpense`	$9.63M	USD	1 Quarter
EARNINGS BEFORE INCOME TAX EXPENSE	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$105.60M	USD	1 Quarter
EARNINGS BEFORE INCOME TAX EXPENSE	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$39.84M	USD	1 Quarter
INCOME TAX EXPENSE	`IncomeTaxExpenseBenefit`	$26.11M	USD	1 Quarter
INCOME TAX EXPENSE	`IncomeTaxExpenseBenefit`	$12.70M	USD	1 Quarter
NET EARNINGS	`NetIncomeLoss`	$27.14M	USD	1 Quarter
NET EARNINGS	`NetIncomeLoss`	$79.49M	USD	1 Quarter
Basic (in dollars per share)	`EarningsPerShareBasic`	$1.17	USD	1 Quarter
Basic (in dollars per share)	`EarningsPerShareBasic`	$0.49	USD	1 Quarter
Assuming Dilution (in dollars per share)	`EarningsPerShareDiluted`	$1.16	USD	1 Quarter
Assuming Dilution (in dollars per share)	`EarningsPerShareDiluted`	$0.49	USD	1 Quarter
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	55.40M	shares	1 Quarter
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	67.73M	shares	1 Quarter
Assuming Dilution (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	55.71M	shares	1 Quarter
Assuming Dilution (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	68.26M	shares	1 Quarter

Cash Flow Statement 72 line items

Line Item	Tag	Value	Unit	Period
Net Earnings	`NetIncomeLoss`	$27.14M	USD	1 Quarter
Net Earnings	`NetIncomeLoss`	$79.49M	USD	1 Quarter
Depreciation of Lease Merchandise	`DepreciationOfLeaseMerchandise`	$505.06M	USD	1 Quarter
Depreciation of Lease Merchandise	`DepreciationOfLeaseMerchandise`	$497.01M	USD	1 Quarter
Other Depreciation and Amortization	`OtherDepreciationAndAmortization`	$7.11M	USD	1 Quarter
Other Depreciation and Amortization	`OtherDepreciationAndAmortization`	$8.48M	USD	1 Quarter
Provisions for Accounts Receivable and Loan Losses	`ProvisionForAccountsReceivableCreditLossAndLoanLosses`	$96.23M	USD	1 Quarter
Provisions for Accounts Receivable and Loan Losses	`ProvisionForAccountsReceivableCreditLossAndLoanLosses`	$42.96M	USD	1 Quarter
Stock-Based Compensation	`ShareBasedCompensation`	$4.16M	USD	1 Quarter
Stock-Based Compensation	`ShareBasedCompensation`	$6.62M	USD	1 Quarter
Deferred Income Taxes	`IncreaseDecreaseInDeferredIncomeTaxes`	$-6.10M	USD	1 Quarter
Deferred Income Taxes	`IncreaseDecreaseInDeferredIncomeTaxes`	$-5.53M	USD	1 Quarter
Non-Cash Lease Expense	`NonCashLeaseExpense`	$274.00K	USD	1 Quarter
Non-Cash Lease Expense	`NonCashLeaseExpense`	$229.00K	USD	1 Quarter
Other Changes, Net	`IncreaseDecreaseInOtherOperatingCapitalNet`	$179.00K	USD	1 Quarter
Other Changes, Net	`IncreaseDecreaseInOtherOperatingCapitalNet`	$1.71M	USD	1 Quarter
Additions to Lease Merchandise	`AdditionsToLeaseMerchandise`	$480.11M	USD	1 Quarter
Additions to Lease Merchandise	`AdditionsToLeaseMerchandise`	$490.71M	USD	1 Quarter
Book Value of Lease Merchandise Sold or Disposed	`BookValueOfLeaseMerchandiseSoldOrDisposed`	$21.34M	USD	1 Quarter
Book Value of Lease Merchandise Sold or Disposed	`BookValueOfLeaseMerchandiseSoldOrDisposed`	$51.93M	USD	1 Quarter
Accounts Receivable	`IncreaseDecreaseInAccountsReceivable`	$94.74M	USD	1 Quarter
Accounts Receivable	`IncreaseDecreaseInAccountsReceivable`	$29.24M	USD	1 Quarter
Prepaid Expenses and Other Assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$9.39M	USD	1 Quarter
Prepaid Expenses and Other Assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$4.42M	USD	1 Quarter
Income Tax Receivable and Payable	`IncreaseDecreaseInIncomeTaxesReceivable`	$-841.00K	USD	1 Quarter
Income Tax Receivable and Payable	`IncreaseDecreaseInIncomeTaxesReceivable`	$-20.46M	USD	1 Quarter
Operating Lease Right-of-Use Assets and Liabilities	`IncreaseDecreaseOperatingLeaseRightOfUseAssetsAndLiability`	$-400.00K	USD	1 Quarter
Operating Lease Right-of-Use Assets and Liabilities	`IncreaseDecreaseOperatingLeaseRightOfUseAssetsAndLiability`	$-556.00K	USD	1 Quarter
Accounts Payable and Accrued Expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$6.44M	USD	1 Quarter
Accounts Payable and Accrued Expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-4.24M	USD	1 Quarter
Customer Deposits and Advance Payments	`IncreaseDecreaseInContractWithCustomerLiability`	$-759.00K	USD	1 Quarter
Customer Deposits and Advance Payments	`IncreaseDecreaseInContractWithCustomerLiability`	$-5.58M	USD	1 Quarter
Cash Provided by Operating Activities	`NetCashProvidedByUsedInOperatingActivities`	$98.30M	USD	1 Quarter
Cash Provided by Operating Activities	`NetCashProvidedByUsedInOperatingActivities`	$167.07M	USD	1 Quarter
Investments in Loans Receivable	`PaymentsToAcquireLoansReceivable`	$48.72M	USD	1 Quarter
Investments in Loans Receivable	`PaymentsToAcquireLoansReceivable`	$42.32M	USD	1 Quarter
Proceeds from Loans Receivable	`ProceedsFromCollectionOfLoansReceivable`	$30.82M	USD	1 Quarter
Proceeds from Loans Receivable	`ProceedsFromCollectionOfLoansReceivable`	$39.05M	USD	1 Quarter
Outflows on Purchases of Property, Plant and Equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$2.33M	USD	1 Quarter
Outflows on Purchases of Property, Plant and Equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$1.84M	USD	1 Quarter
Proceeds from Property, Plant and Equipment	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$12.00K	USD	1 Quarter
Proceeds from Property, Plant and Equipment	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$6.00K	USD	1 Quarter
Proceeds from Acquisitions of Businesses	`ProceedsFromPreviousAcquisition`	$7.00K	USD	1 Quarter
Proceeds from Acquisitions of Businesses	`ProceedsFromPreviousAcquisition`	-	USD	1 Quarter
Cash Used in Investing Activities	`NetCashProvidedByUsedInInvestingActivities`	$-5.59M	USD	1 Quarter
Cash Used in Investing Activities	`NetCashProvidedByUsedInInvestingActivities`	$-19.73M	USD	1 Quarter
Acquisition of Treasury Stock	`PaymentsForRepurchaseOfCommonStock`	$78.08M	USD	1 Quarter
Acquisition of Treasury Stock	`PaymentsForRepurchaseOfCommonStock`	$28.10M	USD	1 Quarter
Tender Offer Shares Repurchased and Retired	`ProceedsFromIssuanceOfPrivatePlacement`	$199.00K	USD	1 Quarter
Tender Offer Shares Repurchased and Retired	`ProceedsFromIssuanceOfPrivatePlacement`	-	USD	1 Quarter
Issuance of Stock Under Stock Option Plans	`ProceedsFromStockOptionsExercised`	-	USD	1 Quarter
Issuance of Stock Under Stock Option Plans	`ProceedsFromStockOptionsExercised`	$282.00K	USD	1 Quarter
Shares Withheld for Tax Payments	`PaymentsRelatedToTaxWithholdingForShareBasedCompensation`	$5.01M	USD	1 Quarter
Shares Withheld for Tax Payments	`PaymentsRelatedToTaxWithholdingForShareBasedCompensation`	$2.52M	USD	1 Quarter
Debt Issuance Costs	`ProceedsFromDebtNetOfIssuanceCosts`	$1.53M	USD	1 Quarter
Debt Issuance Costs	`ProceedsFromDebtNetOfIssuanceCosts`	-	USD	1 Quarter
Cash Used in Financing Activities	`NetCashProvidedByUsedInFinancingActivities`	$-78.86M	USD	1 Quarter
Cash Used in Financing Activities	`NetCashProvidedByUsedInFinancingActivities`	$-32.83M	USD	1 Quarter
Increase in Cash and Cash Equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$114.51M	USD	1 Quarter
Increase in Cash and Cash Equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$13.85M	USD	1 Quarter
Cash and Cash Equivalents at Beginning of Period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$151.15M	USD	Point-in-time
Cash and Cash Equivalents at Beginning of Period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$184.01M	USD	Point-in-time
Cash and Cash Equivalents at Beginning of Period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$170.16M	USD	Point-in-time
Cash and Cash Equivalents at Beginning of Period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$36.65M	USD	Point-in-time
Cash and Cash Equivalents at End of Period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$151.15M	USD	Point-in-time
Cash and Cash Equivalents at End of Period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$184.01M	USD	Point-in-time
Cash and Cash Equivalents at End of Period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$170.16M	USD	Point-in-time
Cash and Cash Equivalents at End of Period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$36.65M	USD	Point-in-time
Interest	`InterestPaidNet`	$223.00K	USD	1 Quarter
Interest	`InterestPaidNet`	$185.00K	USD	1 Quarter
Income Taxes	`IncomeTaxesPaidNet`	$4.16B	USD	1 Quarter
Income Taxes	`IncomeTaxesPaidNet`	$101.00M	USD	1 Quarter

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