View Filing Data

Document and Company Information - shares	9 Months Ended
Document and Company Information - shares	Sep. 30, 2010	Oct. 25, 2010
Document and Company Information [Abstract]
Entity Registrant Name	RENT A CENTER INC DE
Entity Central Index Key	0000933036
Document Type	10-Q
Document Period End Date	Sep. 30, 2010
Amendment Flag	false
Document Fiscal Year Focus	2010
Document Fiscal Period Focus	Q3
Current Fiscal Year End Date	--12-31
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding		64,167,534

Consolidated Statements of Earnings (Unaudited) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2010	Sep. 30, 2009	Sep. 30, 2010	Sep. 30, 2009
Store
Rentals and fees	$ 576,019,000	$ 576,124,000	$ 1,746,390,000	$ 1,763,199,000
Merchandise sales	44,352,000	59,085,000	176,780,000	211,826,000
Installment sales	15,599,000	12,983,000	45,239,000	37,699,000
Other	20,413,000	15,236,000	60,272,000	41,818,000
Franchise
Merchandise sales	6,975,000	6,663,000	22,155,000	20,872,000
Royalty income and fees	1,222,000	1,160,000	3,706,000	3,629,000
Revenues	664,580,000	671,251,000	2,054,542,000	2,079,043,000
Store expenses
Cost of rentals and fees	127,573,000	130,183,000	387,505,000	398,278,000
Cost of merchandise sold	34,807,000	42,940,000	129,221,000	150,704,000
Cost of installment sales	5,507,000	4,511,000	15,936,000	13,201,000
Salaries and other expenses	389,295,000	389,573,000	1,161,887,000	1,175,991,000
Franchise expenses
Franchise cost of merchandise sold	6,680,000	6,378,000	21,202,000	19,987,000
Direct operating expenses	563,862,000	573,585,000	1,715,751,000	1,758,161,000
General and administrative expenses	30,796,000	32,714,000	94,744,000	101,581,000
Amortization and write-down of intangibles	529,000	585,000	3,120,000	2,428,000
Litigation expense (credit)			0	(4,869,000)
Total operating expenses	595,187,000	606,884,000	1,813,615,000	1,857,301,000
Operating profit	69,393,000	64,367,000	240,927,000	221,742,000
Interest expense	6,085,000	4,866,000	18,219,000	22,143,000
Interest income	(282,000)	(153,000)	(606,000)	(689,000)
Earnings before income taxes	63,590,000	59,654,000	223,314,000	200,288,000
Income tax expense	23,093,000	22,814,000	83,526,000	76,127,000
NET EARNINGS	$ 40,497,000	$ 36,840,000	$ 139,788,000	$ 124,161,000
Basic earnings per common share	$ 0.62	$ 0.56	$ 2.13	$ 1.88
Diluted earnings per common share	$ 0.62	$ 0.55	$ 2.11	$ 1.86
Cash dividends per common share	$ 0.06	$ 0	$ 0.06	$ 0

Consolidated Balance Sheets (Unaudited) - USD ($)
$ in Thousands

9 Months Ended

12 Months Ended

Sep. 30, 2010

Dec. 31, 2009

ASSETS

Cash and cash equivalents

$ 80,775

$ 101,803

^[1]

Receivables, net of allowance for doubtful accounts of $9,588 in 2010 and $9,753 in 2009

67,625

63,439

^[1]

Prepaid expenses and other assets

47,836

50,680

^[1]

Rental merchandise, net

On rent

544,308

589,066

^[1]

Held for rent

172,784

160,932

^[1]

Merchandise held for installment sale

4,106

4,069

^[1]

Property assets, net

214,136

204,551

^[1]

Goodwill, net

1,268,187

1,268,684

^[1]

Other intangible assets, net

458

773

^[1]

Total Assets

2,400,215

2,443,997

^[1]

LIABILITIES

Accounts payable - trade

87,841

97,159

^[1]

Accrued liabilities

233,553

265,051

^[1]

Deferred income taxes

129,823

123,115

^[1]

Senior debt

596,084

711,158

^[1]

Total Liabilities

$ 1,047,301

$ 1,196,483

^[1]

COMMITMENTS AND CONTINGENCIES

STOCKHOLDERS' EQUITY

Common stock, $.01 par value; 250,000,000 shares authorized; 105,586,261 and 104,910,759 shares issued in 2010 and 2009, respectively

$ 1,056

$ 1,049

^[1]

Additional paid-in capital

701,667

686,592

^[1]

Retained earnings

1,513,158

1,377,332

^[1]

Treasury stock, 41,441,451 and 39,259,949 shares at cost in 2010 and 2009, respectively

(865,623)

(819,754)

^[1]

Cumulative translation adjustment

2,656

2,295

^[1]

Total Stockholders' Equity

1,352,914

1,247,514

^[1]

Total Liabilities and Stockholders' Equity

$ 2,400,215

$ 2,443,997

^[1]

[1]

Audited

Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands

9 Months Ended

Sep. 30, 2010

Sep. 30, 2009

Cash flows from operating activities

Net earnings

$ 139,788

$ 124,161

Adjustments to reconcile net earnings to net cash provided by operating activities

Depreciation of rental merchandise

378,335

390,126

Bad debt expense

12,084

10,387

Stock-based compensation expense

3,125

2,920

Depreciation of property assets

47,152

50,187

Loss on sale or disposal of property assets

3,099

6,686

Amortization of intangibles

567

1,043

Amortization of financing fees

1,544

1,664

Deferred income taxes

6,708

31,869

(2,342)

(208)

Changes in operating assets and liabilities, net of effects of acquisitions

Rental merchandise

(344,636)

(293,258)

Receivables

(16,270)

(18,460)

Prepaid expenses and other assets

1,202

3,060

Accounts payable - trade

(9,318)

3,255

Accrued liabilities

(28,385)

(15,583)

Net cash provided by operating activities

192,653

297,849

Cash flows from investing activities

Purchase of property assets

(57,373)

(53,644)

Proceeds from sale of property assets

2,147

Acquisitions of businesses, net of cash acquired

(3,112)

(7,025)

Net cash used in investing activities

(60,396)

(58,522)

Cash flows from financing activities

Purchase of treasury stock

(45,869)

Exercise of stock options

9,703

1,276

2,342

208

Payments on capital leases

(800)

(1,781)

Proceeds from debt

55,870

68,385

Repayments of debt

(170,944)

(131,017)

Repurchase of subordinated notes

(225,375)

Dividends paid

(3,949)

Net cash used in financing activities

(153,647)

(288,304)

Effect of exchange rate changes on cash

362

1,500

NET DECREASE IN CASH AND CASH EQUIVALENTS

(21,028)

(47,477)

Cash and cash equivalents at beginning of period

^[1]

101,803

87,382

Cash and cash equivalents at end of period

$ 80,775

$ 39,905

[1]

Audited

Intangible Assets and Acquisitions

9 Months Ended

Sep. 30, 2010

Intangible Assets And Acquisitions [Abstract]

Intangible Assets and Acquisitions

2. Intangible Assets and Acquisitions.

Amortizable intangible assets consist of the following (in thousands):

September 30, 2010

December 31, 2009

Avg.

;

Gross

Life

Carrying

Accumulated

Carrying

Accumulated

(years)

Income Taxes	9 Months Ended
Income Taxes	Sep. 30, 2010
Income Taxes [Abstract]
Income Taxes	div style="font-size:12pt"p3. Income Taxes. We are subject to federal, state, local and foreign income taxes. Along with our U.S. subsidiaries, we file a U.S. federal consolidated income tax return. We are no longer subject to U.S. federal, state, foreign and local income tax examinations by tax authorities for years before 2001. The IRS has concluded its examination of our federal income tax returns for the years 2001 through 2007. Through the appeals process, we reached agreement on all issues except one issue with respect to the 2003 tax year which also recurs in each of the 2004, 2005, 2006 and 2007 taxable years. We believe the position and supporting case law applied by the IRS are incorrectly applied to our situation and that our fact pattern is distinguishable from the IRS#8217; position. We intend to vigorously defend our position on the issue and, accordingly, we filed in April 2009 a petition for the issue to be heard in the United States Tax Court. The trial is currently scheduled to commence in early 2011. Currently, we are also under examination in various states. We do not anticipate that adjustments, if any, regarding the 2003 through 2007 disputed issue or state examinations will result in a material change to our consolidated statement of earnings, financial condition, statement of cash flows or earnings per share. br /br /In determining the quarterly provision for income taxes, we use an estimated annual effective tax rate based on forecasted annual income, permanent items, statutory tax rates and tax planning opportunities in the various jurisdictions in which we operate.#160;#160;Significant factors that could impact the annual effective tax rate include management's assessment of certain tax matters and the composition of taxable income between the various jurisdictions in which we operate.#160; We recognize the impact of significant discrete items separately in the quarter in which they occur.br /br /We provide for uncertain tax positions and related interest and penalties and adjust our unrecognized tax benefits, accrued interest and penalties in the normal course of our business. At September 30, 2010, our unrecognized tax benefits increased by $3.2 million from December 31, 2009./p/div

Fair Value	9 Months Ended
Fair Value	Sep. 30, 2010
Fair Value [Abstract]
Fair Value	div style="font-size:12pt"p4.#160;#160;#160;#160;#160;#160;#160;#160;Fair Value. At September 30, 2010, our financial instruments include cash and cash equivalents, receivables, payables, and senior debt. The carrying amount of cash and cash equivalents, receivables and payables approximates fair value at September 30, 2010 and December 31, 2009, because of the short maturities of these instruments. Our senior debt is variable rate debt that re-prices frequently and entails no significant change in credit risk and, as a result, fair value approximates carrying value. br /br /We use a three-tier fair value hierarchy, which classifies the inputs used in measuring fair values, in determining the fair value of our non-financial assets and non-financial liabilities, which consist primarily of goodwill. These tiers include: Level 1, defined as observable inputs such as quoted prices for identical instruments in active markets; Level 2, defined as inputs other than quoted prices in active markets that are either directly or indirectly observable; and Level 3, defined as unobservable inputs in which little or no market data exists, therefore requiring an entity to develop its own assumptions.br /br /We recorded charges for goodwill related to stores sold or closed of $356,000 and $2.6 million for the three months and nine months ended September 30, 2010, respectively.#160; These charges were determined using both a revenue method and trading multiples, which are Level 3 inputs based on our historical experience with store acquisitions and divestitures./p/div

Earnings Per Share	9 Months Ended
Earnings Per Share	Sep. 30, 2010
Earnings Per Share [Abstract]
Earnings Per Share	div style="font-size:12pt"p6. Earnings Per Share. #160;#160;#160;#160;#160;#160;#160;#160;br /br /Basic and diluted earnings per common share were calculated as follows:br /#160;#160;#160;#160;#160;#160;#160;#160;/ptable style="border-collapse: collapse; margin-top: 20px;"trtd height="18" width="23" align="left"#160;/tdtd height="18" width="260" align="left"#160;/tdtd height="18" width="13" align="left"b#160;/b/tdtd height="18" width="12" align="left"b#160;/b/tdtd width="315" align="center" colspan="8" style="border-bottom: 1px solid #000000;" height="18"bThree months ended September 30, 2010/b/tdtd height="18" width="19" al ign="left"#160;/td/trtrtd height="15" width="23" align="left"#160;/tdtd height="15" width="260" align="left"b#160;/b/tdtd height="15" width="13" align="left"b#160;/b/tdtd height="15" width="12" align="left"b#160;/b/tdtd height="15" style="border-top: 1px solid #000000;" align="center" width="79"b#160;/b/tdtd height="15" style="border-top: 1px solid #000000;" align="center" width="17"b#160;/b/tdtd height="15" style="border-top: 1px solid #000000;" align="center" width="16"b#160;/b/tdtd width="96" align="center" colspan="2" style="border-top: 1px solid #000000;" height="15"bWeighted /b/tdtd height="15" style="border-top: 1px solid #000000;" align="center" width="16"b#160;/b/t dtd height="15" style="border-top: 1px solid #000000;" align="center" width="12"b#160;/b/tdtd height="15" style="border-top: 1px solid #000000;" align="center" width="79"b#160;/b/tdtd height="15" width="19" align="left"#160;/td/trtrtd height="20" width="23" align="left"#160;/tdtd height="20" width="260" align="left"b(In thousands, except per share data)/b/tdtd height="20" width="13" align="left"b#160;/b/tdtd width="108" align="center" colspan="3" style="border-bottom: 1px solid #000000;" height="20"bNet Earnings/b/tdtd height="20" width="16" align="center"b#160;/b/tdtd width="96" align="center" colspan="2" style="border-bottom: 1px solid #000000;" height="20"bAverage Shares/b/tdtd height="20" width="16" align="center"b#160;/b/tdtd width="110" align="center" colspan="3" style="border-bottom: 1px solid #000000;" height="20"bPer Share/b/td/trtrtd height="8" width="23" align="left"#160;/tdtd height="8" width="260" align="left"#160;/tdtd height="8" width="13" align="left"#160;/tdtd height="8" style="border-top: 1px solid #000000;" align="right" width="12"#160;/tdtd height="8" style="border-top: 1px solid #000000;" align="left" width="79"#160;/tdtd height="8" style="border-top: 1px solid #000000;" align="left" width="17"#160;/tdtd height="8" width="16" align="left"#160;/tdtd height="8" style="border-top: 1px solid #000000;" align="left" width="79"#160;/tdtd height="8" style="border-top: 1px solid #000000;" align="left" width="17"#160;/tdtd heig ht="8" width="16" align="left"#160;/tdtd height="8" style="border-top: 1px solid #000000;" align="right" width="12"#160;/tdtd height="8" style="border-top: 1px solid #000000;" align="left" width="79"#160;/tdtd height="8" style="border-top: 1px solid #000000;" align="left" width="19"#160;/td/trtrtd height="18" width="23" align="left"#160;/tdtd width="273" align="left" height="18" colspan="2"Basic earnings per common share #8230;#8230;#8230;#8230;/tdtd height="18" width="12" align="right"$/tdtd height="18" width="79" align="right"40,497#160;/tdtd height="18" width="17" align="right"#160;/tdtd height="18" width="16" align="right"#160;/tdtd height="18" width="79" align="right"65,094#160;/tdtd height="18" width="17" align="right"#160;/tdtd height="18" width="16" align="left"#160;/tdtd height="18" width="12" align="right"$/tdtd height="18" width="79" align="right"#160;0.62#160;/tdtd height="18" width="19" align="left"#160;/td/trtrtd height="18" width="23" align="left"#160;/tdtd width="273" align="left" height="18" colspan="2"Effect of dilutive stock options #8230;#8230;#8230;#8230;#8230;/tdtd height="18" style="border-bottom: 1px solid #000000;" align="right" width="12"#160;/tdtd height="18" style="border-bottom: 1px solid #000000;" align="right" width="79"#160;#8212;/tdtd height="18" style="border-bottom: 1px solid #000000;" align="right" width="17"#160;/tdtd height="18" width="16" align="right"#160;/tdtd height="18" style="border-bottom: 1px solid #000000;" align="right" width="79"652#16 0;/tdtd height="18" style="border-bottom: 1px solid #000000;" align="right" width="17"#160;/tdtd height="18" width="16" align="left"#160;/tdtd height="18" width="12" align="right"#160;/tdtd height="18" width="79" align="right"#160;/tdtd height="18" width="19" align="left"#160;/td/trtrtd height="8" width="23" align="left"#160;/tdtd height="8" width="260" align="left"#160;/tdtd height="8" width="13" align="left"#160;/tdtd height="8" style="border-top: 1px solid #000000;" align="right" width="12"#160;/tdtd height="8" style="border-top: 1px solid #000000;" align="right" width="79"#160;/tdtd height="8" style="border-top: 1px solid #000000;" align="right" width="17"#160;/tdtd height="8" width="16" align="right"#160;/tdtd height="8" style=" border-top: 1px solid #000000;" align="right" width="79"#160;/tdtd height="8" style="border-top: 1px solid #000000;" align="right" width="17"#160;/tdtd height="8" width="16" align="left"#160;/tdtd height="8" width="12" align="right"#160;/tdtd height="8" width="79" align="right"#160;/tdtd height="8" width="19" align="left"#160;/td/trtrtd height="18" width="23" align="left"#160;/tdtd width="273" align="left" height="18" colspan="2"Diluted earnings per common share #8230;#8230;#8230;/tdtd height="18" style="border-bottom: 3px double #000000;" align="right" width="12"$/tdtd height="18" style="border-bottom: 3px double #000000;" align="right" width="79"40,497#160;/tdtd height="18" style="border-bottom: 3px double #000000;" align="right" width="17"#160;/tdtd height=" 18" width="16" align="right"#160;/tdtd height="18" style="border-bottom: 3px double #000000;" align="right" width="79"65,746#160;/tdtd height="18" style="border-bottom: 3px double #000000;" align="right" width="17"#160;/tdtd height="18" width="16" align="left"#160;/tdtd height="18" style="border-bottom: 3px double #000000;" align="right" width="12"$/tdtd height="18" style="border-bottom: 3px double #000000;" align="right" width="79"#160;0.62#160;/tdtd height="18" style="border-bottom: 3px double #000000;" align="left" width="19"#160;/td/tr/tabletable style="border-collapse: collapse; margin-top: 20px;"trtd height="20" width="23" align="left"#160;/tdtd height="20" width="260" align="left"#160;/tdtd height="20" width="13" align="left"b#160;/b/tdtd height="2 0" width="12" align="left"b#160;/b/tdtd width="315" align="center" colspan="8" style="border-bottom: 1px solid #000000;" height="20"bThree months ended September 30, 2009/b/tdtd height="20" width="19" align="left"#160;/td/trtrtd height="15" width="23" align="left"#160;/tdtd height="15" width="260" align="left"b#160;/b/tdtd height="15" width="13" align="left"b#160;/b/tdtd height="15" width="12" align="left"b#160;/b/tdtd height="15" style="border-top: 1px solid #000000;" align="center" width="79"b#160;/b/tdtd height="15" style="border-top: 1px solid #000000;" align="center" width="17"b#160;/b/tdtd height="15" style="border-top: 1px solid #000000;" align="center" width="16"b#160;/b ;/tdtd width="96" align="center" colspan="2" style="border-top: 1px solid #000000;" height="15"bWeighted /b/tdtd height="15" style="border-top: 1px solid #000000;" align="center" width="16"b#160;/b/tdtd height="15" style="border-top: 1px solid #000000;" align="center" width="12"b#160;/b/tdtd height="15" style="border-top: 1px solid #000000;" align="center" width="79"b#160;/b/tdtd height="15" width="19" align="left"#160;/td/trtrtd height="20" width="23" align="left"#160;/tdtd height="20" width="260" align="left"b(In thousands, except per share data)/b/tdtd height="20" width="13" align="left"b#160;/b/tdtd width="108" align="center" colspan="3" style="border-bottom: 1px solid #000000;" height="20"bNet Earnings/b ;/tdtd height="20" width="16" align="center"b#160;/b/tdtd width="96" align="center" colspan="2" style="border-bottom: 1px solid #000000;" height="20"bAverage Shares/b/tdtd height="20" width="16" align="center"b#160;/b/tdtd width="110" align="center" colspan="3" style="border-bottom: 1px solid #000000;" height="20"bPer Share/b/td/trtrtd height="8" width="23" align="left"#160;/tdtd height="8" width="260" align="left"#160;/tdtd height="8" width="13" align="left"#160;/tdtd height="8" style="border-top: 1px solid #000000;" align="right" width="12"#160;/tdtd height="8" style="border-top: 1px solid #000000;" align="left" width="79"#160;/tdtd height="8" style="border-top: 1px solid #000000;" align="left" width="17"#160;/tdtd height=" 8" width="16" align="left"#160;/tdtd height="8" style="border-top: 1px solid #000000;" align="left" width="79"#160;/tdtd height="8" style="border-top: 1px solid #000000;" align="left" width="17"#160;/tdtd height="8" width="16" align="left"#160;/tdtd height="8" style="border-top: 1px solid #000000;" align="right" width="12"#160;/tdtd height="8" style="border-top: 1px solid #000000;" align="left" width="79"#160;/tdtd height="8" style="border-top: 1px solid #000000;" align="left" width="19"#160;/td/trtrtd height="18" width="23" align="left"#160;/tdtd width="273" align="left" height="18" colspan="2"Basic earnings per common share #8230;#8230;#8230;#8230;/tdtd height="18" width="12" align="right"$/tdtd height="18" width="79" align="right"36,840#160;/tdtd height ="18" width="17" align="right"#160;/tdtd height="18" width="16" align="right"#160;/tdtd height="18" width="79" align="right"66,077#160;/tdtd height="18" width="17" align="right"#160;/tdtd height="18" width="16" align="left"#160;/tdtd height="18" width="12" align="right"$/tdtd height="18" width="79" align="right"#160;0.56#160;/tdtd height="18" width="19" align="left"#160;/td/trtrtd height="18" width="23" align="left"#160;/tdtd width="273" align="left" height="18" colspan="2"Effect of dilutive stock options #8230;#8230;#8230;#8230;#8230;/tdtd height="18" style="border-bottom: 1px solid #000000;" align="right" width="12"#160;/tdtd height="18" style="border-bottom: 1px solid #000000;" align="right" width="79"#160;#8212;/tdtd height="18" style="border-bottom: 1px solid #000000;" align="right" width="17"#160;/tdtd height="18" width="16" align="right"#160;/tdtd height="18" style="border-bottom: 1px solid #000000;" align="right" width="79"616#160;/tdtd height="18" style="border-bottom: 1px solid #000000;" align="right" width="17"#160;/tdtd height="18" width="16" align="left"#160;/tdtd height="18" width="12" align="right"#160;/tdtd height="18" width="79" align="right"#160;/tdtd height="18" width="19" align="left"#160;/td/trtrtd height="8" width="23" align="left"#160;/tdtd height="8" width="260" align="left"#160;/tdtd height="8" width="13" align="left"#160;/tdtd height="8" style="border-top: 1px solid #000000;" align="right" width="12"#160;/tdtd height="8" style="border- top: 1px solid #000000;" align="right" width="79"#160;/tdtd height="8" style="border-top: 1px solid #000000;" align="right" width="17"#160;/tdtd height="8" width="16" align="right"#160;/tdtd height="8" style="border-top: 1px solid #000000;" align="right" width="79"#160;/tdtd height="8" style="border-top: 1px solid #000000;" align="right" width="17"#160;/tdtd height="8" width="16" align="left"#160;/tdtd height="8" width="12" align="right"#160;/tdtd height="8" width="79" align="right"#160;/tdtd height="8" width="19" align="left"#160;/td/trtrtd height="18" width="23" align="left"#160;/tdtd width="273" align="left" height="18" colspan="2"Diluted earnings per common share #8230;#8230;#8230;/tdtd height="18" style="border-bottom: 3px double #000000;" align="righ t" width="12"$/tdtd height="18" style="border-bottom: 3px double #000000;" align="right" width="79"36,840#160;/tdtd height="18" style="border-bottom: 3px double #000000;" align="right" width="17"#160;/tdtd height="18" width="16" align="right"#160;/tdtd height="18" style="border-bottom: 3px double #000000;" align="right" width="79"66,693#160;/tdtd height="18" style="border-bottom: 3px double #000000;" align="right" width="17"#160;/tdtd height="18" width="16" align="left"#160;/tdtd height="18" style="border-bottom: 3px double #000000;" align="right" width="12"$/tdtd height="18" style="border-bottom: 3px double #000000;" align="right" width="79"#160;0.55#160;/tdtd height="18" style="border-bottom: 3px double #000000;" align="left" width="19"#160;/td/tr/tabletable style="border-collapse: collaps e; margin-top: 20px;"trtd height="18" width="23" align="left"#160;/tdtd height="18" width="260" align="left"#160;/tdtd height="18" width="13" align="left"b#160;/b/tdtd height="18" width="12" align="left"b#160;/b/tdtd width="315" align="center" colspan="8" style="border-bottom: 1px solid #000000;" height="18"bNine months ended September 30, 2010/b/tdtd height="18" width="19" align="left"#160;/td/trtrtd height="15" width="23" align="left"#160;/tdtd height="15" width="260" align="left"b#160;/b/tdtd height="15" width="13" align="left"b#160;/b/tdtd height="15" width="12" align="left"b#160;/b/tdtd height="15" style="border-top: 1px solid #000000;" align="center" width="79"b mp;#160;/b/tdtd height="15" style="border-top: 1px solid #000000;" align="center" width="17"b#160;/b/tdtd height="15" style="border-top: 1px solid #000000;" align="center" width="16"b#160;/b/tdtd width="96" align="center" colspan="2" style="border-top: 1px solid #000000;" height="15"bWeighted /b/tdtd height="15" style="border-top: 1px solid #000000;" align="center" width="16"b#160;/b/tdtd height="15" style="border-top: 1px solid #000000;" align="center" width="12"b#160;/b/tdtd height="15" style="border-top: 1px solid #000000;" align="center" width="79"b#160;/b/tdtd height="15" width="19" align="left"#160;/td/trtrtd height="20" width="23" align="left"#160;/tdtd height="20" width="260" align="left"b(In thousa nds, except per share data)/b/tdtd height="20" width="13" align="left"b#160;/b/tdtd width="108" align="center" colspan="3" style="border-bottom: 1px solid #000000;" height="20"bNet Earnings/b/tdtd height="20" width="16" align="center"b#160;/b/tdtd width="96" align="center" colspan="2" style="border-bottom: 1px solid #000000;" height="20"bAverage Shares/b/tdtd height="20" width="16" align="center"b#160;/b/tdtd width="110" align="center" colspan="3" style="border-bottom: 1px solid #000000;" height="20"bPer Share/b/td/trtrtd height="8" width="23" align="left"#160;/tdtd height="8" width="260" align="left"#160;/tdtd height="8" width="13" align="left"#160;/tdtd height="8" style="border-top: 1px solid #000000;" ali gn="right" width="12"#160;/tdtd height="8" style="border-top: 1px solid #000000;" align="left" width="79"#160;/tdtd height="8" style="border-top: 1px solid #000000;" align="left" width="17"#160;/tdtd height="8" width="16" align="left"#160;/tdtd height="8" style="border-top: 1px solid #000000;" align="left" width="79"#160;/tdtd height="8" style="border-top: 1px solid #000000;" align="left" width="17"#160;/tdtd height="8" width="16" align="left"#160;/tdtd height="8" style="border-top: 1px solid #000000;" align="right" width="12"#160;/tdtd height="8" style="border-top: 1px solid #000000;" align="left" width="79"#160;/tdtd height="8" style="border-top: 1px solid #000000;" align="left" width="19"#160;/td/trtrtd height="18" width="23" align="left"#160;/tdtd width="273" al ign="left" height="18" colspan="2"Basic earnings per common share #8230;#8230;#8230;#8230;/tdtd height="18" width="12" align="right"$/tdtd height="18" width="79" align="right"139,788#160;/tdtd height="18" width="17" align="right"#160;/tdtd height="18" width="16" align="right"#160;/tdtd height="18" width="79" align="right"65,579#160;/tdtd height="18" width="17" align="right"#160;/tdtd height="18" width="16" align="left"#160;/tdtd height="18" width="12" align="right"$/tdtd height="18" width="79" align="right"#160;2.13#160;/tdtd height="18" width="19" align="left"#160;/td/trtrtd height="18" width="23" align="left"#160;/tdtd width="273" align="left" height="18" colspan="2"Effect of dilutive stock options #8230;#8230;#823 0;#8230;#8230;/tdtd height="18" style="border-bottom: 1px solid #000000;" align="right" width="12"#160;/tdtd height="18" style="border-bottom: 1px solid #000000;" align="right" width="79"#160;#8212;/tdtd height="18" style="border-bottom: 1px solid #000000;" align="right" width="17"#160;/tdtd height="18" width="16" align="right"#160;/tdtd height="18" style="border-bottom: 1px solid #000000;" align="right" width="79"766#160;/tdtd height="18" style="border-bottom: 1px solid #000000;" align="right" width="17"#160;/tdtd height="18" width="16" align="left"#160;/tdtd height="18" width="12" align="right"#160;/tdtd height="18" width="79" align="right"#160;/tdtd height="18" width="19" align="left"#160;/td/trtrtd height="8" width="23" align="left"#160;/td ;td height="8" width="260" align="left"#160;/tdtd height="8" width="13" align="left"#160;/tdtd height="8" style="border-top: 1px solid #000000;" align="right" width="12"#160;/tdtd height="8" style="border-top: 1px solid #000000;" align="right" width="79"#160;/tdtd height="8" style="border-top: 1px solid #000000;" align="right" width="17"#160;/tdtd height="8" width="16" align="right"#160;/tdtd height="8" style="border-top: 1px solid #000000;" align="right" width="79"#160;/tdtd height="8" style="border-top: 1px solid #000000;" align="right" width="17"#160;/tdtd height="8" width="16" align="left"#160;/tdtd height="8" width="12" align="right"#160;/tdtd height="8" width="79" align="right"#160;/tdtd height="8" width="19" align="left"#160;/td/trtrt d height="18" width="23" align="left"#160;/tdtd width="273" align="left" height="18" colspan="2"Diluted earnings per common share #8230;#8230;#8230;/tdtd height="18" style="border-bottom: 3px double #000000;" align="right" width="12"$/tdtd height="18" style="border-bottom: 3px double #000000;" align="right" width="79"139,788#160;/tdtd height="18" style="border-bottom: 3px double #000000;" align="right" width="17"#160;/tdtd height="18" width="16" align="right"#160;/tdtd height="18" style="border-bottom: 3px double #000000;" align="right" width="79"66,345#160;/tdtd height="18" style="border-bottom: 3px double #000000;" align="right" width="17"#160;/tdtd height="18" width="16" align="left"#160;/tdtd height="18" style="border-bottom: 3px double #000000;" align="right" width="12"$/tdtd height="18" style="bo rder-bottom: 3px double #000000;" align="right" width="79"#160;2.11#160;/tdtd height="18" style="border-bottom: 3px double #000000;" align="left" width="19"#160;/td/tr/tabletable style="border-collapse: collapse; margin-top: 20px;"trtd height="20" width="23" align="left"#160;/tdtd height="20" width="260" align="left"#160;/tdtd height="20" width="13" align="left"b#160;/b/tdtd height="20" width="12" align="left"b#160;/b/tdtd width="315" align="center" colspan="8" style="border-bottom: 1px solid #000000;" height="20"bNine months ended September 30, 2009/b/tdtd height="20" width="19" align="left"#160;/td/trtrtd height="15" width="23" align="left"#160;/tdtd height="15" width="260" align="left"b#160;/b/td gt;td height="15" width="13" align="left"b#160;/b/tdtd height="15" width="12" align="left"b#160;/b/tdtd height="15" style="border-top: 1px solid #000000;" align="center" width="79"b#160;/b/tdtd height="15" style="border-top: 1px solid #000000;" align="center" width="17"b#160;/b/tdtd height="15" style="border-top: 1px solid #000000;" align="center" width="16"b#160;/b/tdtd width="96" align="center" colspan="2" style="border-top: 1px solid #000000;" height="15"bWeighted /b/tdtd height="15" style="border-top: 1px solid #000000;" align="center" width="16"b#160;/b/tdtd height="15" style="border-top: 1px solid #000000;" align="center" width="12"b#160;/b/tdtd height="15" style="border-top: 1px solid #000000;" align="center" wi dth="79"b#160;/b/tdtd height="15" width="19" align="left"#160;/td/trtrtd height="20" width="23" align="left"#160;/tdtd height="20" width="260" align="left"b(In thousands, except per share data)/b/tdtd height="20" width="13" align="left"b#160;/b/tdtd width="108" align="center" colspan="3" style="border-bottom: 1px solid #000000;" height="20"bNet Earnings/b/tdtd height="20" width="16" align="center"b#160;/b/tdtd width="96" align="center" colspan="2" style="border-bottom: 1px solid #000000;" height="20"bAverage Shares/b/tdtd height="20" width="16" align="center"b#160;/b/tdtd width="110" align="center" colspan="3" style="border-bottom: 1px solid #000000;" height="20"bPer Share/b/td/tr trtd height="8" width="23" align="left"#160;/tdtd height="8" width="260" align="left"#160;/tdtd height="8" width="13" align="left"#160;/tdtd height="8" style="border-top: 1px solid #000000;" align="right" width="12"#160;/tdtd height="8" style="border-top: 1px solid #000000;" align="left" width="79"#160;/tdtd height="8" style="border-top: 1px solid #000000;" align="left" width="17"#160;/tdtd height="8" width="16" align="left"#160;/tdtd height="8" style="border-top: 1px solid #000000;" align="left" width="79"#160;/tdtd height="8" style="border-top: 1px solid #000000;" align="left" width="17"#160;/tdtd height="8" width="16" align="left"#160;/tdtd height="8" style="border-top: 1px solid #000000;" align="right" width="12"#160;/tdtd height="8" style="border-top: 1px solid #000000;" align="left" width="79"#160;/tdtd height="8" style="border-top: 1px solid #000000;" align="left" width="19"#160;/td/trtrtd height="18" width="23" align="left"#160;/tdtd width="273" align="left" height="18" colspan="2"Basic earnings per common share #8230;#8230;#8230;#8230;/tdtd height="18" width="12" align="right"$/tdtd height="18" width="79" align="right"124,161#160;/tdtd height="18" width="17" align="right"#160;/tdtd height="18" width="16" align="right"#160;/tdtd height="18" width="79" align="right"66,034#160;/tdtd height="18" width="17" align="right"#160;/tdtd height="18" width="16" align="left"#160;/tdtd height="18" width="12" align="right"$/tdtd height="18" width="79" align="right"#160;1.88#160;/tdt d height="18" width="19" align="left"#160;/td/trtrtd height="18" width="23" align="left"#160;/tdtd width="273" align="left" height="18" colspan="2"Effect of dilutive stock options #8230;#8230;#8230;#8230;#8230;/tdtd height="18" style="border-bottom: 1px solid #000000;" align="right" width="12"#160;/tdtd height="18" style="border-bottom: 1px solid #000000;" align="right" width="79"#160;#8212;/tdtd height="18" style="border-bottom: 1px solid #000000;" align="right" width="17"#160;/tdtd height="18" width="16" align="right"#160;/tdtd height="18" style="border-bottom: 1px solid #000000;" align="right" width="79"578#160;/tdtd height="18" style="border-bottom: 1px solid #000000;" align="right" width="17"#160;/tdtd height="18" width="16" align="left"#160;/tdtd height="1 8" width="12" align="right"#160;/tdtd height="18" width="79" align="right"#160;/tdtd height="18" width="19" align="left"#160;/td/trtrtd height="8" width="23" align="left"#160;/tdtd height="8" width="260" align="left"#160;/tdtd height="8" width="13" align="left"#160;/tdtd height="8" style="border-top: 1px solid #000000;" align="right" width="12"#160;/tdtd height="8" style="border-top: 1px solid #000000;" align="right" width="79"#160;/tdtd height="8" style="border-top: 1px solid #000000;" align="right" width="17"#160;/tdtd height="8" width="16" align="right"#160;/tdtd height="8" style="border-top: 1px solid #000000;" align="right" width="79"#160;/tdtd height="8" style="border-top: 1px solid #000000;" align="right" width="17"#160;/tdtd height="8" w idth="16" align="left"#160;/tdtd height="8" width="12" align="right"#160;/tdtd height="8" width="79" align="right"#160;/tdtd height="8" width="19" align="left"#160;/td/trtrtd height="18" width="23" align="left"#160;/tdtd width="273" align="left" height="18" colspan="2"Diluted earnings per common share #8230;#8230;#8230;/tdtd height="18" style="border-bottom: 3px double #000000;" align="right" width="12"$/tdtd height="18" style="border-bottom: 3px double #000000;" align="right" width="79"124,161#160;/tdtd height="18" style="border-bottom: 3px double #000000;" align="right" width="17"#160;/tdtd height="18" width="16" align="right"#160;/tdtd height="18" style="border-bottom: 3px double #000000;" align="right" width="79"66,612#160;/tdtd height="18" style="border-bo ttom: 3px double #000000;" align="right" width="17"#160;/tdtd height="18" width="16" align="left"#160;/tdtd height="18" style="border-bottom: 3px double #000000;" align="right" width="12"$/tdtd height="18" style="border-bottom: 3px double #000000;" align="right" width="79"#160;1.86#160;/tdtd height="18" style="border-bottom: 3px double #000000;" align="left" width="19"#160;/td/tr/tablepFor the three months ended September 30, 2010 and 2009, the number of stock options that were outstanding but not included in the computation of diluted earnings per common share and, therefore anti-dilutive, was 2,366,676 and 2,816,883, respectively.br /br /For the nine months ended September 30, 2010 and 2009, the number of stock options that were outstanding but not included in the computation of diluted earnings per common share and, therefore anti-dilutive, was 2,044,471 and 2,973,51 8, respectively.br //p/div

Significant Accounting Policies and Nature of Operations	9 Months Ended
	Sep. 30, 2010
Significant Accounting Policies And Nature Of Operations [Abstract]
Significant Accounting Policies and Nature of Operations	1. Significant Accounting Policies and Nature of Operations. The interim financial statements of Rent-A-Center, Inc. included herein have been prepared by us pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”). Certain information and footnote disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States of America have been condensed or omitted pursuant to the SEC’s rules and regulations, although we believe the disclosures are adequate to make the information presented not misleading. We suggest that these financial statements be read in conjunction with the financial statements and notes included in our Annual Report on Form 10-K for the year ended December 31, 2009. In our opinion, the accompanying unaudited interim financial statements contain all adjustments, consisting only of those of a normal recurring nature, necessary to present fairly our results of operations and cash flows for the periods presented. The results of operations for the periods presented are not necessarily indicative of the results to be expected for the full year. Principles of Consolidation and Nature of Operations. These financial statements include the accounts of Rent-A-Center, Inc. and its direct and indirect subsidiaries. All intercompany accounts and transactions have been eliminated. Unless the context indicates otherwise, references to “Rent-A-Center” refer only to Rent-A-Center, Inc., the parent, and references to “we,” “us” and “our” refer to the consolidated business operations of Rent-A-Center and all of its direct and indirect subsidiaries. Our primary op erating segment consists of leasing household durable goods to customers on a rent-to-own basis. We also offer merchandise on an installment sales basis in certain of our stores. At September 30, 2010, we operated 3,001 company-owned stores nationwide and in Canada and Puerto Rico, including 41 retail installment sales stores under the names “Get It Now” and “Home Choice,” and 18 rent-to-own stores in Canada under the names “Rent-A-Centre” and “Better Living.” We also operate kiosk locations under the trade name “RAC Acceptance” which offer the rent-to-own transaction to consumers who do not qualify for financing from the traditional retailer. These kiosks are located within such retailer’s store locations. At September 30, 2010, we operated 151 RAC Acceptance locations. We also offer an array of financial services in certain of our existing stores under the names “RAC Financial Services” and “Cash AdvantEdge.” The financial services we offer include, but are not limited to, short term secured and unsecured loans, debit cards, check cashing and money transfer services. As of September 30, 2010, we offered financial services in 326 of our existing stores in 14 states. On October 25, 2010, we announced that in connection with our analysis of available growth initiatives, we are exploring strategic alternatives with respect to our financial services business, which may or may not include a sale or divestiture of such business. We do not intend to disclose developments with respect to the strategic alternatives for our financial services business unless and until a final decision is made and further disclosure is required. We do not anticipate these strategic alternatives to result in a material adverse change to our financial condition or results of operations. ColorT yme, Inc., an indirect wholly-owned subsidiary of Rent-A-Center, is a nationwide franchisor of rent-to-own stores. At September 30, 2010, ColorTyme had 206 franchised stores operating in 34 states. ColorTyme’s primary source of revenue is the sale of rental merchandise to its franchisees, who in turn offer the merchandise to the general public for rent or purchase under a rent-to-own program. The balance of ColorTyme’s revenue is generated primarily from royalties based on franchisees’ monthly gross revenues. New Accounting Pronouncements. In June 2009, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update 2009-17, Improvements to Financial Reporting by Enterprises Involved with Variable Interest Entities (“ASU 2009-17”), which changes various aspects of accounting for and disclosures of interests in variable interest entities. ASU 2009-17 is effective for interim and annual periods beg inning after November 15, 2009. The adoption of ASU 2009-17 had no effect on our consolidated statement of earnings, financial condition, statement of cash flows or earnings per share. From time to time, new accounting pronouncements are issued by the FASB or other standards setting bodies that we adopt as of the specified effective date. Unless otherwise discussed, we believe the impact of any other recently issued standards that are not yet effective are either not applicable to us at this time or will not have a material impact on our consolidated financial statements upon adoption.