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Document and Company Information - shares	9 Months Ended
Document and Company Information - shares	Sep. 30, 2013	Oct. 21, 2013
Entity Information [Line Items]
Entity Registrant Name	RENT A CENTER INC DE
Entity Central Index Key	0000933036
Document Type	10-Q
Document Period End Date	Sep. 30, 2013
Amendment Flag	false
Document Fiscal Year Focus	2013
Document Fiscal Period Focus	Q3
Trading Symbol	RCII
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		53,521,972

Consolidated Statements of Earnings - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2013	Sep. 30, 2012
Store
Rentals and fees	$ 671,334	$ 652,059	$ 2,013,885	$ 1,989,027
Merchandise sales	53,808	58,854	227,171	242,335
Installment sales	17,474	15,560	52,138	49,225
Other	4,483	2,811	14,244	12,280
Franchise
Merchandise sales	6,396	8,697	23,072	27,332
Royalty income and fees	1,285	1,333	4,062	4,067
Revenues	754,780	739,314	2,334,572	2,324,266
Store
Cost of rentals and fees	170,979	158,805	507,826	481,954
Cost of merchandise sold	42,344	47,497	175,903	192,038
Cost of installment sales	5,983	5,376	18,141	17,402
Franchise
Franchise cost of merchandise sold	6,142	8,295	22,072	26,141
Cost of revenues	225,448	219,973	723,942	717,535
Gross profit	529,332	519,341	1,610,630	1,606,731
Operating expenses
Salaries and other expenses	435,107	410,693	1,280,457	1,248,732
General and administrative expenses	37,054	38,088	114,227	113,562
Amortization and write-down of intangibles	639	2,447	2,694	5,263
Total operating expenses	472,800	451,228	1,397,378	1,367,557
Operating profit	56,532	68,113	213,252	239,174
Interest expense	10,916	8,096	28,773	25,416
Interest income	(183)	(167)	(659)	(470)
Earnings before income taxes	45,799	60,184	185,138	214,228
Income tax expense	18,177	20,274	69,055	78,195
NET EARNINGS	$ 27,622	$ 39,910	$ 116,083	$ 136,033
Basic earnings per common share	$ 0.52	$ 0.68	$ 2.09	$ 2.30
Diluted earnings per common share	0.51	0.67	2.08	2.28
Cash dividends declared per common share	$ 0.21	$ 0.16	$ 0.63	$ 0.48

Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2013	Sep. 30, 2012
Net earnings	$ 27,622	$ 39,910	$ 116,083	$ 136,033
Other comprehensive income (loss):
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Adjustment, Net of Tax	41	3,470	(1,330)	3,439
Total other comprehensive loss	41	3,470	(1,330)	3,439
COMPREHENSIVE INCOME	$ 27,663	$ 43,380	$ 114,753	$ 139,472

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Glossary Net Income
-URI http://asc.fasb.org/extlink&oid=6518256

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 230
-SubTopic 10
-Section 45
-Paragraph 28
-URI http://asc.fasb.org/extlink&oid=31042434&loc=d3e3602-108585

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
-SubTopic 225
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04.19)
-URI http://asc.fasb.org/extlink&oid=6879464&loc=d3e573970-122913

Reference 4: http://www.xbrl.org/2003/role/presentationRef
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-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3550-109257

Reference 5: http://www.xbrl.org/2003/role/presentationRef
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-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03.18)
-URI http://asc.fasb.org/extlink&oid=26872669&loc=d3e20235-122688

Reference 6: http://www.xbrl.org/2003/role/presentationRef
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-Topic 944
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-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04.22)
-URI http://asc.fasb.org/extlink&oid=6879464&loc=d3e573970-122913

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Glossary Other Comprehensive Income
-URI http://asc.fasb.org/extlink&oid=6519514

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
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-Section 45
-Paragraph 6
-URI http://asc.fasb.org/extlink&oid=28358780&loc=d3e565-108580

Reference 9: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 03
-Paragraph 19
-Article 5

Reference 10: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 04
-Paragraph 20
-Article 9

+ Details

Consolidated Balance Sheets - USD ($) $ in Thousands	Sep. 30, 2013	Dec. 31, 2012
ASSETS
Cash and cash equivalents	$ 52,857	$ 61,087
Receivables, net of allowance for doubtful accounts of $7,386 in 2013 and $6,917 in 2012	48,527	48,822
Prepaid expenses and other assets	73,910	71,963
Rental merchandise, net
On rent	854,580	821,887
Held for rent	217,388	198,917
Merchandise held for installment sale	4,054	3,741
Property assets, net of accumulated depreciation of $427,201 in 2013 and $398,039 in 2012	324,648	309,800
Goodwill	1,353,941	1,344,665
Other intangible assets, net	7,405	8,223
Total Assets	2,937,310	2,869,105
LIABILITIES
Accounts payable - trade	124,256	99,566
Accrued liabilities	306,699	309,066
Deferred income taxes	324,062	303,110
Senior debt	284,575	387,500
Senior notes	550,000	300,000
Total Liabilities	1,589,592	1,399,242
COMMITMENTS AND CONTINGENCIES
STOCKHOLDERS' EQUITY
Common stock, $.01 par value; 250,000,000 shares authorized; 109,036,927 and 108,530,911 shares issued in 2013 and 2012, respectively	1,090	1,085
Additional paid-in capital	759,814	784,725
Retained earnings	1,893,793	1,812,293
Treasury stock at cost, 55,552,836 and 50,495,378 shares in 2013 and 2012, respectively	(1,307,677)	(1,130,268)
Accumulated other comprehensive income	698	2,028
Total Stockholders' Equity	1,347,718	1,469,863
Total Liabilities and Stockholders' Equity	$ 2,937,310	$ 2,869,105

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Sep. 30, 2013	Dec. 31, 2012
Allowance for doubtful accounts	$ 7,386	$ 6,917
Accumulated depreciation, property assets	$ 427,201	$ 398,039
Common stock - par value	$ 0.01	$ 0.01
Common stock - shares authorized	250,000,000	250,000,000
Common stock - shares issued	109,036,927	108,530,911
Treasury stock - shares at cost	55,552,836	50,495,378

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2013	Sep. 30, 2012
Net earnings	$ 116,083	$ 136,033
Adjustments to reconcile net earnings to net cash provided by operating activities
Depreciation of rental merchandise	487,412	464,560
Bad debt expense	3,031	2,543
Stock-based compensation expense	5,524	6,673
Depreciation of property assets	56,654	54,744
Loss on sale or disposal of property assets	2,035	1,833
Amortization of intangibles	1,897	4,042
Amortization of financing fees	2,338	2,074
Deferred income taxes	20,952	(960)
Excess tax benefit related to stock awards	(245)	(2,860)
Changes in operating assets and liabilities, net of effects of acquisitions
Rental merchandise	(534,843)	(457,749)
Receivables	(2,736)	1,394
Prepaid expenses and other assets	(4,670)	(4,788)
Accounts payable - trade	24,689	37,528
Accrued liabilities	(5,212)	13,682
Net cash provided by operating activities	172,909	258,749
Cash flows from investing activities
Purchase of property assets	(73,761)	(73,103)
Proceeds from sale of property assets	1,620	4,898
Acquisitions of businesses	(13,829)	(5,249)
Net cash used in investing activities	(85,970)	(73,454)
Cash flows from financing activities
Purchase of treasury stock	(217,419)	(30,121)
Exercise of stock options	10,711	11,275
Excess tax benefit related to stock awards	245	2,860
Payments on capital leases	0	(27)
Proceeds from debt	631,435	321,985
Repayments of debt	(484,360)	(469,360)
Dividends paid	(35,564)	(28,505)
Net cash used in financing activities	(94,952)	(191,893)
Effect of exchange rate changes on cash	(217)	333
NET INCREASE IN CASH AND CASH EQUIVALENTS	(8,230)	(6,265)
Cash and cash equivalents at beginning of period	61,087	88,065
Cash and cash equivalents at end of period	$ 52,857	$ 81,800

Significant Accounting Policies and Nature of Operations	9 Months Ended
	Sep. 30, 2013
Significant Accounting Policies and Nature of Operations [Abstract]
Significant Accounting Policies and Nature of Operations	Significant Accounting Policies and Nature of Operations. The interim consolidated 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 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, 2012. 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 any or all of its direct and indirect subsidiaries. We report four operating segments: Core U.S., RAC Acceptance, International and Franchising (formerly reported as ColorTyme). Our Core U.S. segment consists of company-owned rent-to-own stores that lease 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 under the names “Get It Now” and “Home Choice.” Our RAC Acceptance segment generally offers the rent-to-own transaction to consumers who do not qualify for financing from the traditional retailer through kiosks located within such retailers’ stores. Our International segment consists of our company-owned rent-to-own stores in Mexico and Canada that lease household durable goods to customers on a rent-to-own basis. Our stores in Canada operate under the name “Rent-A-Centre.” Rent-A-Center Franchising International, Inc. (formerly ColorTyme, Inc.), an indirect wholly owned subsidiary of Rent-A-Center, is a franchisor of rent-to-own stores. Our Franchising segment’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 transaction. The balance of our Franchising segment’s revenue is generated primarily from royalties based on franchisees’ monthly gross revenues. Rental Merchandise. Rental merchandise is carried at cost, net of accumulated depreciation. Depreciation for merchandise is generally provided using the income forecasting method, which is intended to match as closely as practicable the recognition of depreciation expense with the consumption of the rental merchandise, and assumes no salvage value. The consumption of rental merchandise occurs during periods of rental and directly coincides with the receipt of rental revenue over the rental purchase agreement period. Under the income forecasting method, merchandise held for rent is not depreciated and merchandise on rent is depreciated in the proportion of rents received to total rents provided in the rental contract, which is an activity-based method similar to the units of production method. Effective January 1, 2013, we depreciate merchandise (including computers and tablets) that is held for rent for at least 180 consecutive days using the straight-line method over a period generally not to exceed 18 months. Prior to January 1, 2013, merchandise held for rent (except for computers and tablets) that was at least 270 days old and held for rent for at least 180 consecutive days, was depreciated using the straight-line method over a period generally not to exceed 20 months. Prior to January 1, 2013, the straight-line method was used for computers and tablets that were 24 months old or older and which had become idle over a period of at least six months, generally not to exceed an aggregate depreciation period of 30 months. This change has not had a significant impact on cost of revenues, gross profit, net earnings or earnings per share. Rental merchandise which is damaged and inoperable is expensed when such impairment occurs. If a customer does not return the merchandise or make payment, the remaining book value of the rental merchandise associated with delinquent accounts is generally charged off on or before the 90^th day following the time the account became past due in the Core U.S. and International segments, and on or before the 120^th day in the RAC Acceptance segment. We maintain a reserve for these expected expenses. In addition, any minor repairs made to rental merchandise are expensed at the time of the repair. Reclassification. We revised the 2012 consolidated statement of earnings to classify stock-based compensation received by employees above the district manager level that was previously reported within salaries and other expenses to general and administrative expenses to conform to the 2013 presentation. This reclassification resulted in a decrease in salaries and other expenses of $1.9 million and $6.7 million for the three- and nine-month periods ended September 30, 2012, with a corresponding increase to general and administrative expenses. This reclassification had no impact on net earnings or earnings per share for 2012. Use of Estimates. In preparing financial statements in conformity with accounting principles generally accepted in the United States of America, we are required to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent losses and liabilities at the date of the financial statements, and the reported amounts of revenues and expenses during the reporting period. In applying accounting principles, we must often make individual estimates and assumptions regarding expected outcomes or uncertainties. Our estimates, judgments and assumptions are continually evaluated based on available information and experience. Because of the use of estimates inherent in the financial reporting process, actual results could differ from those estimates. New Accounting Pronouncements. From time to time, new accounting pronouncements are issued by the Financial Accounting Standards Board ("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.

Intangible Assets and Acquisitions

9 Months Ended

Sep. 30, 2013

Intangible Assets and Acquisitions [Abstract]

Intangible Assets and Acquisitions

Intangible Assets and Acquisitions.

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



		September 30, 2013				December 31, 2012
	Avg. Life (years)	Gross Carrying Amount		Accumulated Amortization		Gross Carrying Amount		Accumulated Amortization
Non-compete agreements	3	$	6,113	$	6,101	$	6,104	$	6,098
Customer relationships	2	72,876		71,459		71,816		70,001
Vendor relationships	11	7,538		1,562		7,538		1,136
Total		$	86,527	$	79,122	$	85,458	$	77,235

The weighted average amortization period was approximately 21 months for intangible assets added during the three- and nine- month periods ended September 30, 2013. Estimated remaining amortization expense, assuming current intangible balances and no new acquisitions, for each of the years ending December 31, is as follows (in thousands):



	Estimated Amortization Expense
2013	$	461
2014	1,523
2015	722
2016	569
2017	568
Thereafter	3,562
Total	$	7,405

At September 30, 2013, the amount of goodwill allocated to the Core U.S., RAC Acceptance and International segments was approximately $1,298.4 million, $54.4 million and $1.1 million, respectively. At December 31, 2012, the amount of goodwill allocated to the Core U.S., RAC Acceptance and International segments was approximately $1,289.2 million, $54.4 million and $1.1 million, respectively.

A summary of the changes in recorded goodwill follows (in thousands):



	Nine Months Ended			Year Ended
	September 30, 2013			December 31, 2012
Balance as of January 1,	$	1,344,665		$	1,339,125
Additions from acquisitions	9,779			6,874
Store dispositions and write-down	(797		)	(1,221		)
Post purchase price allocation adjustments	294			(113		)
Balance as of the end of the period	$	1,353,941		$	1,344,665

Additions to goodwill due to acquisitions in the first nine months of 2013 were tax deductible.

- Definition

The entire disclosure for the aggregate amount of goodwill and a description of intangible assets, which may include (a) for amortizable intangible assets (also referred to as finite-lived intangible assets), the carrying amount, the amount of any significant residual value, and the weighted-average amortization period, (b) for intangible assets not subject to amortization (also referred to as indefinite-lived intangible assets), the carrying amount, and (c) the amount of research and development assets acquired and written off in the period, including the line item in the income statement in which the amounts written off are aggregated, if not readily apparent from the income statement. Also discloses (a) for amortizable intangibles assets in total and by major class, the gross carrying amount and accumulated amortization, the total amortization expense for the period, and the estimated aggregate amortization expense for each of the five succeeding fiscal years, (b) for intangible assets not subject to amortization the carrying amount in total and by major class, and (c) for goodwill, in total and for each reportable segment, the changes in the carrying amount of goodwill during the period (including the aggregate amount of goodwill acquired, the aggregate amount of impairment losses recognized, and the amount of goodwill included in the gain (loss) on disposal of a reporting unit). If any part of goodwill has not been allocated to a reportable segment, discloses the unallocated amount and the reasons for not allocating. For each impairment loss recognized related to an intangible asset (excluding goodwill), discloses: (a) a description of the impaired intangible asset and the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method for determining fair value, (c) the caption in the income statement or the statement of activities in which the impairment loss is aggregated, and (d) the segment in which the impaired intangible asset is reported. For each goodwill impairment loss recognized, discloses: (a) a description of the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method of determining the fair value of the associated reporting unit, and (c) if a recognized impairment loss is an estimate not finalized and the reasons why the estimate is not final. May also disclose the nature and amount of any significant adjustments made to a previous estimate of an impairment loss.

+ References + Details

Senior Credit Facilities

9 Months Ended

Sep. 30, 2013

Senior Credit Facilities [Abstract]

Senior Credit Facilities

Senior Debt.

Our $750.0 million senior credit facilities consist of a $250.0 million, five-year term loan and a $500.0 million, five-year revolving credit facility. The amounts outstanding under the term loan were $193.8 million and $212.5 million at September 30, 2013, and December 31, 2012, respectively, and the amounts outstanding under the revolving credit facility were $89.0 million and $175.0 million at September 30, 2013, and December 31, 2012, respectively.

The full amount of the revolving credit facility may be used for the issuance of letters of credit, of which $115.1 million had been so utilized as of September 30, 2013, and at which date $295.9 million was available. The revolving credit facility and the term loan expire on July 14, 2016.

Borrowings under our senior credit facility accrue interest at varying rates equal to, at our election, either (y) the prime rate plus 0.50% to 1.50%; or (z) the Eurodollar rate plus 1.50% to 2.50%. Interest periods range from seven days (for borrowings under the revolving credit facility only) to one, two, three or six months, at our election. The margins on the Eurodollar rate and on the prime rate, which were 2.25% and 1.25%, respectively, at September 30, 2013, may fluctuate dependent upon an increase or decrease in our consolidated leverage ratio as defined by a pricing grid included in the amended credit agreement. We have not entered into any interest rate protection agreements with respect to term loans under our senior credit facilities. A commitment fee equal to 0.30% to 0.50% of the average daily amount of the available revolving commitment is payable quarterly.

Our senior credit facilities are secured by a security interest in substantially all of our tangible and intangible assets, including intellectual property. Our senior credit facilities are also secured by a pledge of the capital stock of our wholly owned U.S. subsidiaries (other than certain specified subsidiaries).

Our senior credit facilities contain, without limitation, covenants that generally limit our ability to:


•	incur additional debt in excess of $250.0 million at any one time outstanding (other than subordinated debt, which is generally permitted if the maturity date is later than July 14, 2017);


•	repurchase our capital stock, 6.625% notes and 4.75% notes and pay cash dividends in the event the pro forma senior leverage ratio is greater than 2.50x;


•	incur liens or other encumbrances;


•	merge, consolidate or sell substantially all our property or business;


•	sell assets, other than inventory, in the ordinary course of business;


•	make investments or acquisitions unless we meet financial tests and other requirements;


•	make capital expenditures in the event the pro forma consolidated leverage ratio is greater than 2.75x; or


•	enter into an unrelated line of business.

Our senior credit facilities require us to comply with several financial covenants. The table below shows the required and actual ratios under our credit facilities calculated as of September 30, 2013:



	Required Ratio		Actual Ratio
Maximum consolidated leverage ratio	No greater than	3.25:1	2.17:1
Minimum fixed charge coverage ratio	No less than	1.35:1	1.53:1

These financial covenants, as well as the related components of their computation, are defined in the amended and restated credit agreement governing our senior credit facility, which is included as an exhibit to our Current Report on Form 8-K dated as of July 14, 2011. In accordance with the credit agreement, the maximum consolidated leverage ratio was calculated by dividing the consolidated funded debt outstanding at September 30, 2013 ($804.9 million) by consolidated EBITDA for the 12-month period ending September 30, 2013 ($371.1 million). For purposes of the covenant calculation, (i) “consolidated funded debt” is defined as outstanding indebtedness less cash in excess of $25.0 million, and (ii) “consolidated EBITDA” is generally defined as consolidated net income (a) plus the sum of income taxes, interest expense, depreciation and amortization expense, extraordinary non-cash expenses or losses, and other non-cash charges, and (b) minus the sum of interest income, extraordinary income or gains, other non-cash income, and cash payments with respect to extraordinary non-cash expenses or losses recorded in prior fiscal quarters. Consolidated EBITDA is a non-GAAP financial measure that is presented not as a measure of operating results, but rather as a measure used to determine covenant compliance under our senior credit facilities.

The minimum fixed charge coverage ratio was calculated pursuant to the credit agreement by dividing consolidated EBITDA for the 12-month period ending September 30, 2013, as adjusted for certain capital expenditures ($524.1 million), by consolidated fixed charges for the 12-month period ending September 30, 2013 ($342.3 million). For purposes of the covenant calculation, “consolidated fixed charges” is defined as the sum of interest expense, lease expense, cash dividends and mandatory debt repayments.

Events of default under our senior credit facilities include customary events, such as a cross-acceleration provision in the event that we default on other debt. In addition, an event of default under the senior credit facility would occur if a change of control occurs. This is defined to include the case where a third party becomes the beneficial owner of 35% or more of our voting stock or upon certain changes in the constitution of Rent-A-Center’s Board of Directors. An event of default would also occur if one or more judgments were entered against us of $50.0 million or more and such judgments were not satisfied or bonded pending appeal within 30 days after entry.

We utilize our revolving credit facility for the issuance of letters of credit, as well as to manage normal fluctuations in operational cash flow caused by the timing of cash receipts. In that regard, we may from time to time draw funds under the revolving credit facility for general corporate purposes. The funds drawn on individual occasions have varied in amounts of up to $100.0 million, which occurred at the date we refinanced our senior secured debt, with total amounts outstanding ranging up to $221.0 million. Amounts are drawn as needed due to the timing of cash flows and are generally paid down as cash is generated by our operating activities.

In addition to the senior credit facilities discussed above, we maintain a $20.0 million unsecured, revolving line of credit with INTRUST Bank, N.A. to facilitate cash management. The outstanding balance of this line of credit was $1.8 million and $0 at September 30, 2013, and December 31, 2012, respectively.

Subsidiary Guarantors - Senior Notes

9 Months Ended

Sep. 30, 2013

Subsidiary Guarantors Senior Notes [Abstract]

Subsidiary Guarantors Senior Notes

Subsidiary Guarantors – Senior Notes.

Senior Notes Due 2020. On November 2, 2010, we issued $300.0 million in senior unsecured notes due November 2020, bearing interest at 6.625%, pursuant to an indenture dated November 2, 2010, among Rent-A-Center, Inc., its subsidiary guarantors and The Bank of New York Mellon Trust Company, as trustee. A portion of the proceeds of this offering were used to repay approximately $200.0 million of outstanding term debt under our senior credit facility. The remaining net proceeds were used to repurchase shares of our common stock.

Senior Notes Due 2021. On May 2, 2013, we issued $250.0 million in senior unsecured notes due May 2021, bearing interest at 4.75%, pursuant to an indenture dated May 2, 2013, among Rent-A-Center, Inc., its subsidiary guarantors and The Bank of New York Mellon Trust Company, as trustee. A portion of the proceeds of this offering were used to repurchase shares of our common stock under a $200.0 million accelerated stock buyback program. The remaining net proceeds were used to repay outstanding revolving debt under our senior credit facility.

The indentures governing the 6.625% notes and the 4.75% notes are substantially similar. Each indenture contains covenants that limit our ability to:


•	incur additional debt;


•	sell assets or our subsidiaries;


•	grant liens to third parties;


•	pay cash dividends or repurchase stock; and


•	engage in a merger or sell substantially all of our assets.

Events of default under each indenture include customary events, such as a cross-acceleration provision in the event that we default in the payment of other debt due at maturity or upon acceleration for default in an amount exceeding $50.0 million, as well as in the event a judgment is entered against us in excess of $50.0 million that is not discharged, bonded or insured.

The 6.625% notes may be redeemed on or after November 15, 2015, at our option, in whole or in part, at a premium declining from 103.313%. The 6.625% notes may be redeemed on or after November 15, 2018, at our option, in whole or in part, at par. The 6.625% notes also require that upon the occurrence of a change of control (as defined in the 2010 indenture), the holders of the notes have the right to require us to repurchase the notes at a price equal to 101% of the original aggregate principal amount, together with accrued and unpaid interest, if any, to the date of repurchase.

The 4.75% notes may be redeemed on or after May 1, 2016, at our option, in whole or in part, at a premium declining from 103.563%. The 4.75% notes may be redeemed on or after May 1, 2019, at our option, in whole or in part, at par. The 4.75% notes also require that upon the occurrence of a change of control (as defined in the 2013 indenture), the holders of the notes have the right to require us to repurchase the notes at a price equal to 101% of the original aggregate principal amount, together with accrued and unpaid interest, if any, to the date of repurchase.

Any mandatory repurchase of the 6.625% notes and/or the 4.75% notes would trigger an event of default under our senior credit facilities. We are not required to maintain any financial ratios under either of the indentures.

Rent-A-Center and its subsidiary guarantors have fully, jointly and severally, and unconditionally guaranteed the obligations of Rent-A-Center with respect to the 6.625% notes and the 4.75% notes. Rent-A-Center has no independent assets or operations, and each subsidiary guarantor is 100% owned directly or indirectly by Rent-A-Center. The only direct or indirect subsidiaries of Rent-A-Center that are not guarantors are minor subsidiaries. There are no restrictions on the ability of any of the subsidiary guarantors to transfer funds to Rent-A-Center in the form of loans, advances or dividends, except as provided by applicable law.

Income Taxes	9 Months Ended
Income Taxes	Sep. 30, 2013
Income Tax Expense (Benefit), Continuing Operations [Abstract]
Income Taxes	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 2008. During 2013, the Internal Revenue Service (IRS) commenced a limited-scope audit of our consolidated U.S. income tax return for 2010. One issue is still outstanding with the IRS which occurred in years 2003 through 2007. This matter was appealed through the IRS Office of Appeals and subsequently was heard by the United States Tax Court at trial during November 2011, and a decision is expected during 2013. 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. We provide for uncertain tax positions and related interest and adjust our unrecognized tax benefits and accrued interest in the normal course of our business. At September 30, 2013, our unrecognized tax benefits were increased by approximately $2.8 million from December 31, 2012.

Fair Value	9 Months Ended
Fair Value	Sep. 30, 2013
Fair Value [Abstract]
Fair Value	Fair Value. 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. There were no changes in the methods and assumptions used in measuring fair value during the period. At September 30, 2013, our financial instruments include cash and cash equivalents, receivables, payables, senior debt and senior notes. The carrying amount of cash and cash equivalents, receivables and payables approximates fair value at September 30, 2013 and December 31, 2012, 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. The fair value of our senior notes is based on Level 1 inputs. At September 30, 2013, the fair value of our 6.625% senior notes was $312.4 million, which was approximately $12.4 million above their carrying value of $300.0 million. At December 31, 2012, the fair value of our 6.625% senior notes was $327.0 million, which was approximately $27.0 million above their carrying value of $300.0 million. At September 30, 2013, the fair value of our 4.75% senior notes was $232.5 million, which was approximately $17.5 million below their carrying value of $250.0 million.

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References + Details

Repurchases of Outstanding Securities	9 Months Ended
Repurchases of Outstanding Securities	Sep. 30, 2013
Repurchases of Outstanding Securities [Abstract]
Repurchases of Outstanding Securities	. Under our current common stock repurchase program, our Board of Directors has authorized the purchase, from time to time, in the open market and privately negotiated transactions, of up to an aggregate of $1.25 billion of Rent-A-Center common stock. On May 2, 2013, we entered into an agreement with Goldman, Sachs & Co. ("Goldman Sachs") to repurchase $200.0 million of Rent-A-Center common stock under an accelerated stock buyback program ("the ASB transaction"). Under the agreement, we paid $200.0 million to Goldman Sachs on May 7, 2013, and we received an initial share delivery of 4,592,423 shares, which was estimated to represent 80% of shares expected to be purchased in the ASB transaction. The weighted value of these shares immediately reduced weighted-average shares outstanding in our calculation of earnings per share. The remainder of the ASB transaction was subject to a forward contract that settled in October 2013, at which time we received an additional 816,916 shares, ending the ASB transaction. Our consolidated balance sheet as of September 30, 2013, reflects $160.0 million in treasury stock and $40.0 million in additional paid-in capital. Upon final settlement in October 2013, $40.0 million will be reclassified from additional paid-in capital to treasury stock. We have repurchased a total of 36,177,737 shares and 31,120,279 shares of Rent-A-Center common stock for an aggregate purchase price of $994.8 million and $777.3 million as of September 30, 2013, and December 31, 2012, respectively, under our common stock repurchase program. In addition to the 4,592,423 shares repurchased pursuant to the accelerated stock buyback in the second quarter of 2013, we repurchased 465,035 shares for $17.4 million in the first quarter of 2013, and no shares were repurchased in the third quarter of 2013.

Segment Information

9 Months Ended

Sep. 30, 2013

Segment Reporting [Abstract]

Segment Information

Segment Information.

The operating segments reported below are the segments for which separate financial information is available and for which segment results are evaluated by the chief operating decision makers. Our operating segments are organized based on factors including, but not limited to, type of business transactions, geographic location and store ownership. All operating segments offer merchandise from four basic product categories: consumer electronics, appliances, computers, furniture and accessories. Reportable segments and their respective operations are defined as follows.

Our Core U.S. segment primarily operates rent-to-own stores in the United States and Puerto Rico whose customers enter into weekly, semi-monthly or monthly rental purchase agreements, which renew automatically upon receipt of each payment. We retain the title to the merchandise during the term of the rental purchase agreement and ownership passes to the customer if the customer has continuously renewed the rental purchase agreement through the end of the term or exercises a specified early purchase option. This segment also includes the 43 stores operating in two states that utilize a retail model which generates installment credit sales through a retail sale transaction. Segment assets include cash, receivables, rental merchandise, property assets, goodwill and other intangible assets.

Our RAC Acceptance segment operates kiosks within various traditional retailers’ locations where we generally offer the rent-to-own transaction to consumers who do not qualify for financing from the traditional retailer. The transaction offered is generally similar to that of the Core U.S. segment; however, the majority of the customers in this segment enter into monthly rather than weekly agreements. Segment assets include cash, rental merchandise, property assets, goodwill and other intangible assets.

Our International segment consists of our company-owned rent-to-own stores in Mexico and Canada. The nature of this segment’s operations and assets are the same as our Core U.S. segment. At September 30, 2013, we operated 150 stores in Mexico and 18 stores in Canada.

During the third quarter of 2013, ColorTyme, Inc., our franchisor of rent-to-own stores, changed its name to Rent-A-Center Franchising International, Inc., and all future franchises sold will be licensed under the Rent-A-Center name. This segment will be referred to as Franchising in the future. We offered our current franchisees the opportunity to convert their ColorTyme stores to the Rent-A-Center name. Our franchised stores use Rent-A-Center’s or ColorTyme’s trade names, service marks, trademarks and logos, and operate under distinctive operating procedures and standards. Franchising’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. As franchisor, Franchising receives royalties of 2.0% to 6.0% of the franchisees’ monthly gross revenue and initial fees for new locations. Segment assets include cash, franchise fee receivables, property assets and intangible assets.

To facilitate the conversion of ColorTyme branded stores to Rent-A-Center, we will sell some of our company-owned stores to existing franchisees, purchase some of the former ColorTyme stores and either operate them under the Rent-A-Center brand or merge them with existing stores, and some franchised stores will continue to operate under the ColorTyme brand. We will also bear certain re-imaging costs incurred by franchisees who elect to re-brand. We anticipate recording a pre-tax restructuring charge in the fourth quarter of 2013 in connection with this rebranding initiative. No restructuring charges were incurred in the third quarter of 2013.

We incur costs at our corporate headquarters that benefit our Core U.S., RAC Acceptance and International operating segments. Accordingly, we allocate such costs among these segments based on segment revenue to determine segment operating profit. Likewise, certain corporate assets used to support these operating segments, including the land and building in which the corporate headquarters are located and related property assets, cash and prepaid expenses are also allocated to these operating segments based on segment revenue. Because our Franchising segment has maintained a separate, independent corporate office, no additional corporate costs or assets have been allocated to that segment.

Segment information for the three and nine months ended September 30, 2013 and 2012 is as follows (in thousands):



	Three Months Ended September 30, 2013
	Core U.S.		RAC Acceptance		International			Franchising		Total
Revenue	$	608,333	$	123,798	$	14,968		$	7,681	$	754,780
Gross profit	442,971		74,083		10,739			1,539		529,332
Operating profit (loss)	44,943		18,855		(7,665		)	399		56,532
Depreciation of property assets	16,401		1,323		1,677			20		19,421
Amortization and write-down of intangibles	497		142		—			—		639
Capital expenditures	22,340		2,819		3,781			—		28,940



	Three Months Ended September 30, 2012
	Core U.S.		RAC Acceptance		International			Franchising		Total
Revenue	$	634,575	$	83,838	$	10,871		$	10,030	$	739,314
Gross profit	460,353		49,737		7,516			1,735		519,341
Operating profit (loss)	69,544		7,259		(9,046		)	356		68,113
Depreciation of property assets	15,981		936		1,475			20		18,412
Amortization and write-down of intangibles	583		897		967			—		2,447
Capital expenditures	22,056		1,191		1,536			—		24,783



	Nine Months Ended September 30, 2013
	Core U.S.		RAC Acceptance		International			Franchising		Total
Revenue	$	1,897,586	$	368,454	$	41,398		$	27,134	$	2,334,572
Gross profit	1,365,980		209,960		29,628			5,062		1,610,630
Operating profit (loss)	179,608		52,384		(20,384		)	1,644		213,252
Depreciation of property assets	48,319		3,574		4,701			60		56,654
Amortization and write-down of intangibles	2,267		427		—			—		2,694
Capital expenditures	57,537		7,021		9,203			—		73,761



	Nine Months Ended September 30, 2012
	Core U.S.		RAC Acceptance		International			Franchising		Total
Revenue	$	2,016,761	$	248,626	$	27,480		$	31,399	$	2,324,266
Gross profit	1,444,824		137,524		19,125			5,258		1,606,731
Operating profit (loss)	244,215		17,024		(23,617		)	1,552		239,174
Depreciation of property assets	47,689		2,620		4,366			69		54,744
Amortization and write-down of intangibles	1,606		2,690		967			—		5,263
Capital expenditures	59,089		3,582		10,432			—		73,103



Segment information – selected balance sheet data (in thousands):
	September 30, 2013
	Core U.S.		RAC Acceptance		International		Franchising		Total
Rental merchandise, net
On rent	$	574,871	$	261,967	$	17,742	$	—	$	854,580
Held for rent	205,674		3,579		8,135		—		217,388
Total assets	2,513,251		351,407		71,443		1,209		2,937,310



	December 31, 2012
	Core U.S.		RAC Acceptance		International		Franchising		Total
Rental merchandise, net
On rent	$	597,771	$	209,964	$	14,152	$	—	$	821,887
Held for rent	189,526		2,979		6,412		—		198,917
Total assets	2,508,370		292,070		65,954		2,711		2,869,105

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
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-Name Accounting Standards Codification
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Reference 2: http://www.xbrl.org/2003/role/presentationRef
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+ Details

Stock-Based Compensation	9 Months Ended
Stock-Based Compensation	Sep. 30, 2013
Stock-Based Compensation [Abstract]
Stock-Based Compensation	Stock-Based Compensation. We recognized $1.8 million and $1.9 million in pre-tax compensation expense related to stock options and restricted stock units during the three months ended September 30, 2013 and 2012, respectively, and $5.5 million and $6.7 million, during the nine months ended September 30, 2013 and 2012, respectively. During the nine months ended September 30, 2013, we granted approximately 638,000 stock options, 155,000 performance-based restricted stock units and 85,000 time-vesting restricted stock units. The stock options granted were valued using a Black-Scholes pricing model with the following assumptions: an expected volatility of 30.61% to 44.35%, a risk-free interest rate of 0.27% to 1.73%, an expected dividend yield of 2.2% to 2.4% and an expected life of 2.33 to 6.25 years. The weighted-average exercise price of the options granted during the nine months ended September 30, 2013, was $35.65 and the weighted-average grant-date fair value was $9.21. The restricted stock units are valued using the last trade before the day of the grant, adjusted for any provisions affecting fair value, such as the lack of dividends or dividend equivalents during the vesting period. The weighted-average grant date fair value of the restricted stock units granted during the nine months ended September 30, 2013, was $32.45.

Litigation	9 Months Ended
Litigation	Sep. 30, 2013
Litigation [Abstract]
Litigation	Litigation. From time to time, we, along with our subsidiaries, are party to various legal proceedings arising in the ordinary course of business. We reserve for litigation loss contingencies that are both probable and reasonably estimable. We regularly monitor developments related to these legal proceedings, and review the adequacy of our legal reserves on a quarterly basis. We do not expect these losses to have a material impact on our consolidated financial statements if and when such losses are incurred.

Earnings Per Share

9 Months Ended

Sep. 30, 2013

Earnings Per Share [Abstract]

Earnings Per Share

Earnings Per Common Share.

Basic and diluted earnings per common share were calculated as follows (in thousands, except per share data):



	Three Months Ended September 30, 2013
	Net Earnings		Weighted Average Shares	Per Share
Basic earnings per common share	$	27,622	53,438	$	0.52
Effect of dilutive stock awards	—		374
Diluted earnings per common share	$	27,622	53,812	$	0.51



	Three Months Ended September 30, 2012
	Net Earnings		Weighted Average Shares	Per Share
Basic earnings per common share	$	39,910	58,882	$	0.68
Effect of dilutive stock awards	—		430
Diluted earnings per common share	$	39,910	59,312	$	0.67



	Nine Months Ended September 30, 2013
	Net Earnings		Weighted Average Shares	Per Share
Basic earnings per common share	$	116,083	55,423	$	2.09
Effect of dilutive stock awards	—		377
Diluted earnings per common share	$	116,083	55,800	$	2.08



	Nine Months Ended September 30, 2012
	Net Earnings		Weighted Average Shares	Per Share
Basic earnings per common share	$	136,033	59,098	$	2.30
Effect of dilutive stock awards	—		511
Diluted earnings per common share	$	136,033	59,609	$	2.28

For the three-month periods ended September 30, 2013 and 2012, the number of anti-dilutive stock awards that were outstanding but not included in the computation of diluted earnings per common share were 1,183,826 and 691,491, respectively.

For the nine-month periods ended September 30, 2013 and 2012, the number of anti-dilutive stock awards that were outstanding but not included in the computation of diluted earnings per common share were 1,340,372 and 1,059,078, respectively.

Significant Accounting Policies and Nature of Operations (Policies)	9 Months Ended
	Sep. 30, 2013
Accounting Policies [Abstract]
Principles of Consolidation	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.
Rental Merchandise	Rental merchandise is carried at cost, net of accumulated depreciation. Depreciation for merchandise is generally provided using the income forecasting method, which is intended to match as closely as practicable the recognition of depreciation expense with the consumption of the rental merchandise, and assumes no salvage value. The consumption of rental merchandise occurs during periods of rental and directly coincides with the receipt of rental revenue over the rental purchase agreement period. Under the income forecasting method, merchandise held for rent is not depreciated and merchandise on rent is depreciated in the proportion of rents received to total rents provided in the rental contract, which is an activity-based method similar to the units of production method. Effective January 1, 2013, we depreciate merchandise (including computers and tablets) that is held for rent for at least 180 consecutive days using the straight-line method over a period generally not to exceed 18 months. Prior to January 1, 2013, merchandise held for rent (except for computers and tablets) that was at least 270 days old and held for rent for at least 180 consecutive days, was depreciated using the straight-line method over a period generally not to exceed 20 months. Prior to January 1, 2013, the straight-line method was used for computers and tablets that were 24 months old or older and which had become idle over a period of at least six months, generally not to exceed an aggregate depreciation period of 30 months. This change has not had a significant impact on cost of revenues, gross profit, net earnings or earnings per share. Rental merchandise which is damaged and inoperable is expensed when such impairment occurs. If a customer does not return the merchandise or make payment, the remaining book value of the rental merchandise associated with delinquent accounts is generally charged off on or before the 90^th day following the time the account became past due in the Core U.S. and International segments, and on or before the 120^th day in the RAC Acceptance segment. We maintain a reserve for these expected expenses. In addition, any minor repairs made to rental merchandise are expensed at the time of the repair.
Reclassification	We revised the 2012 consolidated statement of earnings to classify stock-based compensation received by employees above the district manager level that was previously reported within salaries and other expenses to general and administrative expenses to conform to the 2013 presentation. This reclassification resulted in a decrease in salaries and other expenses of $1.9 million and $6.7 million for the three- and nine-month periods ended September 30, 2012, with a corresponding increase to general and administrative expenses. This reclassification had no impact on net earnings or earnings per share for 2012.
Use of Estimates	In preparing financial statements in conformity with accounting principles generally accepted in the United States of America, we are required to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent losses and liabilities at the date of the financial statements, and the reported amounts of revenues and expenses during the reporting period. In applying accounting principles, we must often make individual estimates and assumptions regarding expected outcomes or uncertainties. Our estimates, judgments and assumptions are continually evaluated based on available information and experience. Because of the use of estimates inherent in the financial reporting process, actual results could differ from those estimates.
New Accounting Pronouncements	From time to time, new accounting pronouncements are issued by the Financial Accounting Standards Board ("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.

- Definition

Disclosure of accounting policy regarding (1) the principles it follows in consolidating or combining the separate financial statements, including the principles followed in determining the inclusion or exclusion of subsidiaries or other entities in the consolidated or combined financial statements and (2) its treatment of interests (for example, common stock, a partnership interest or other means of exerting influence) in other entities, for example consolidation or use of the equity or cost methods of accounting. The accounting policy may also address the accounting treatment for intercompany accounts and transactions, noncontrolling interest, and the income statement treatment in consolidation for issuances of stock by a subsidiary.

+ References + Details

Intangible Assets and Acquisitions (Tables)

9 Months Ended

Sep. 30, 2013

Intangible Assets And Acquisitions (Tables) [Abstract]

Amortizable Intangible Assets

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



		September 30, 2013				December 31, 2012
	Avg. Life (years)	Gross Carrying Amount		Accumulated Amortization		Gross Carrying Amount		Accumulated Amortization
Non-compete agreements	3	$	6,113	$	6,101	$	6,104	$	6,098
Customer relationships	2	72,876		71,459		71,816		70,001
Vendor relationships	11	7,538		1,562		7,538		1,136
Total		$	86,527	$	79,122	$	85,458	$	77,235

Estimated Amortization Expense

Estimated remaining amortization expense, assuming current intangible balances and no new acquisitions, for each of the years ending December 31, is as follows (in thousands):



	Estimated Amortization Expense
2013	$	461
2014	1,523
2015	722
2016	569
2017	568
Thereafter	3,562
Total	$	7,405

Changes in Recorded Goodwill

A summary of the changes in recorded goodwill follows (in thousands):



	Nine Months Ended			Year Ended
	September 30, 2013			December 31, 2012
Balance as of January 1,	$	1,344,665		$	1,339,125
Additions from acquisitions	9,779			6,874
Store dispositions and write-down	(797		)	(1,221		)
Post purchase price allocation adjustments	294			(113		)
Balance as of the end of the period	$	1,353,941		$	1,344,665

Senior Credit Facilities (Tables)

9 Months Ended

Sep. 30, 2013

Senior Credit Facilities (Tables) [Abstract]

Financial Covenants Ratios



	Required Ratio		Actual Ratio
Maximum consolidated leverage ratio	No greater than	3.25:1	2.17:1
Minimum fixed charge coverage ratio	No less than	1.35:1	1.53:1

Segment Information (Tables)

9 Months Ended

Sep. 30, 2013

Segment Information (Table) [Abstract]

Segment Information

Segment information for the three and nine months ended September 30, 2013 and 2012 is as follows (in thousands):



	Three Months Ended September 30, 2013
	Core U.S.		RAC Acceptance		International			Franchising		Total
Revenue	$	608,333	$	123,798	$	14,968		$	7,681	$	754,780
Gross profit	442,971		74,083		10,739			1,539		529,332
Operating profit (loss)	44,943		18,855		(7,665		)	399		56,532
Depreciation of property assets	16,401		1,323		1,677			20		19,421
Amortization and write-down of intangibles	497		142		—			—		639
Capital expenditures	22,340		2,819		3,781			—		28,940



	Three Months Ended September 30, 2012
	Core U.S.		RAC Acceptance		International			Franchising		Total
Revenue	$	634,575	$	83,838	$	10,871		$	10,030	$	739,314
Gross profit	460,353		49,737		7,516			1,735		519,341
Operating profit (loss)	69,544		7,259		(9,046		)	356		68,113
Depreciation of property assets	15,981		936		1,475			20		18,412
Amortization and write-down of intangibles	583		897		967			—		2,447
Capital expenditures	22,056		1,191		1,536			—		24,783



	Nine Months Ended September 30, 2013
	Core U.S.		RAC Acceptance		International			Franchising		Total
Revenue	$	1,897,586	$	368,454	$	41,398		$	27,134	$	2,334,572
Gross profit	1,365,980		209,960		29,628			5,062		1,610,630
Operating profit (loss)	179,608		52,384		(20,384		)	1,644		213,252
Depreciation of property assets	48,319		3,574		4,701			60		56,654
Amortization and write-down of intangibles	2,267		427		—			—		2,694
Capital expenditures	57,537		7,021		9,203			—		73,761



	Nine Months Ended September 30, 2012
	Core U.S.		RAC Acceptance		International			Franchising		Total
Revenue	$	2,016,761	$	248,626	$	27,480		$	31,399	$	2,324,266
Gross profit	1,444,824		137,524		19,125			5,258		1,606,731
Operating profit (loss)	244,215		17,024		(23,617		)	1,552		239,174
Depreciation of property assets	47,689		2,620		4,366			69		54,744
Amortization and write-down of intangibles	1,606		2,690		967			—		5,263
Capital expenditures	59,089		3,582		10,432			—		73,103



Segment information – selected balance sheet data (in thousands):
	September 30, 2013
	Core U.S.		RAC Acceptance		International		Franchising		Total
Rental merchandise, net
On rent	$	574,871	$	261,967	$	17,742	$	—	$	854,580
Held for rent	205,674		3,579		8,135		—		217,388
Total assets	2,513,251		351,407		71,443		1,209		2,937,310



	December 31, 2012
	Core U.S.		RAC Acceptance		International		Franchising		Total
Rental merchandise, net
On rent	$	597,771	$	209,964	$	14,152	$	—	$	821,887
Held for rent	189,526		2,979		6,412		—		198,917
Total assets	2,508,370		292,070		65,954		2,711		2,869,105

Earnings Per Share (Tables)

9 Months Ended

Sep. 30, 2013

Earnings Per Share (Tables) [Abstract]

Earnings Per Share

Basic and diluted earnings per common share were calculated as follows (in thousands, except per share data):



	Three Months Ended September 30, 2013
	Net Earnings		Weighted Average Shares	Per Share
Basic earnings per common share	$	27,622	53,438	$	0.52
Effect of dilutive stock awards	—		374
Diluted earnings per common share	$	27,622	53,812	$	0.51



	Three Months Ended September 30, 2012
	Net Earnings		Weighted Average Shares	Per Share
Basic earnings per common share	$	39,910	58,882	$	0.68
Effect of dilutive stock awards	—		430
Diluted earnings per common share	$	39,910	59,312	$	0.67



	Nine Months Ended September 30, 2013
	Net Earnings		Weighted Average Shares	Per Share
Basic earnings per common share	$	116,083	55,423	$	2.09
Effect of dilutive stock awards	—		377
Diluted earnings per common share	$	116,083	55,800	$	2.08



	Nine Months Ended September 30, 2012
	Net Earnings		Weighted Average Shares	Per Share
Basic earnings per common share	$	136,033	59,098	$	2.30
Effect of dilutive stock awards	—		511
Diluted earnings per common share	$	136,033	59,609	$	2.28

Significant Accounting Policies and Nature of Operations (Details) - USD ($) $ in Millions	3 Months Ended	9 Months Ended
	Sep. 30, 2012	Sep. 30, 2012	Sep. 30, 2013	Dec. 31, 2012
Reclassification (Details) [Abstract]
Prior Period Reclassification Adjustment	$ 1.9	$ 6.7
Rental Merchandise Policy (Details) [Abstract]
Minimum Period in Held for Rent Status Needed for Depreciation of Merchandise			180 days	180 days
Minimum Age Needed for Depreciation of Merchandise Held for Rent				270 days
Maximum Period Used for Depreciation of Merchandise Held for Rent			18 months	20 months
Minimum Period in Idle Status Needed for Depreciation of Computer				6 months
Minimum Age Needed for Depreciation of Computer				24 months
Maximum Period Used for Depreciation of Computer				30 months

Intangible Assets and Acquisitions (Details) - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2013	Dec. 31, 2012	Sep. 30, 2013	Dec. 31, 2012
Changes in Recorded Goodwill (Details) [Abstract]
Goodwill, beginning balance	$ 1,344,665	$ 1,339,125
Additions from acquisitions	9,779	6,874
Store dispositions and impairment charges	(797)	(1,221)
Post purchase price allocation adjustments	294	(113)
Goodwill, ending balance	1,353,941	1,344,665
Estimated Amortization Expense (Table Details) [Abstract]
2013			$ 461
2014			1,523
2015			722
2016			569
2017			568
Thereafter			3,562
Total			7,405	$ 8,223
Intangible Assets [Line Items]
Gross carrying amount- amortizable intangible assets			86,527	85,458
Accumulated amortization - amortizable intangible assets			79,122	77,235
Goodwill	$ 1,344,665	1,344,665	1,353,941	1,344,665
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life	21 months
Core U.S. [Member]
Changes in Recorded Goodwill (Details) [Abstract]
Goodwill, beginning balance	$ 1,289,200
Goodwill, ending balance	1,298,400	1,289,200
Intangible Assets [Line Items]
Goodwill	1,298,400	1,289,200	1,298,400	1,289,200
RAC Acceptance [Member]
Changes in Recorded Goodwill (Details) [Abstract]
Goodwill, beginning balance	54,400
Goodwill, ending balance	54,400	54,400
Intangible Assets [Line Items]
Goodwill	54,400	54,400	54,400	54,400
International [Member]
Changes in Recorded Goodwill (Details) [Abstract]
Goodwill, beginning balance	1,100
Goodwill, ending balance	1,100	1,100
Intangible Assets [Line Items]
Goodwill	$ 1,100	$ 1,100	1,100	1,100
Customer Relationships [Member]
Intangible Assets [Line Items]
Average life (years) - amortizable intangible assets	2 years
Gross carrying amount- amortizable intangible assets			72,876	71,816
Accumulated amortization - amortizable intangible assets			71,459	70,001
Vendor Relationships [Member]
Intangible Assets [Line Items]
Average life (years) - amortizable intangible assets	11 years
Gross carrying amount- amortizable intangible assets			7,538	7,538
Accumulated amortization - amortizable intangible assets			1,562	1,136
Noncompete Agreements [Member]
Intangible Assets [Line Items]
Average life (years) - amortizable intangible assets	3 years
Gross carrying amount- amortizable intangible assets			6,113	6,104
Accumulated amortization - amortizable intangible assets			$ 6,101	$ 6,098

Senior Credit Facilities (Details)	9 Months Ended	12 Months Ended
Senior Credit Facilities (Details)	Sep. 30, 2013 USD ($)	Sep. 30, 2013 USD ($)	Dec. 31, 2012 USD ($)
Covenants [Abstract]
Covenant limitation incur additional debt in excess of	$ 250,000,000	$ 250,000,000
Maximum pro forma senior leverage ratio	2.50	2.50
Consolidated fixed charges		$ 342,300,000
Consolidated funded debt outstanding	$ 804,900,000	804,900,000
Consolidated EBITDA		371,100,000
Outstanding indebtedness less cash in excess of	$ 25,000,000	25,000,000
Adjusted Consolidated EBITDA		$ 524,100,000
Pro forma consolidated leverage ratio	2.75	2.75
Financial Covenants Ratios (Table Details) [Abstract]
Required consolidated leverage ratio, maximum	3.25	3.25
Actual consolidated leverage ratio	2.17	2.17
Required fixed charge coverage ratio, minimum	1.35	1.35
Actual fixed charge coverage ratio	1.53	1.53
Interest Rate [Abstract]
Interest accrued at Prime rate plue %, minimum	0.50%	0.50%
Interest accrued at Prime rate plus %, maximum	1.50%	1.50%
Interest accrued at Eurodollar rate plus %, minimum	1.50%	1.50%
Interest accrued at Eurodollar rate plus %, maximum	2.50%	2.50%
Interest period	Interest periods range from seven days (for borrowings under the revolving credit facility only) to one, two, three or six months, at our election.
Margin on Eurodollar rate	2.25%	2.25%
Margin on prime rate	1.25%	1.25%
Commitment fee percentage, minimum	0.30%
Commitment fee percentage, maximum	0.50%
Senior Credit Facilities (Details) [Abstract]
Event of default-3rd party ownership % of our voting stock	35.00%	35.00%
Event of default-not satisfied or bonded judgment in excess of	$ 50,000,000	$ 50,000,000
Maximum period allowed for pending judgment to satisfy or bond (in days)	30	30
Maximum fund drawn on individual occasion	$ 100,000,000	$ 100,000,000
Maximum total amount outstanding	221,000,000	221,000,000
Debt Instrument [Line Items]
Senior credit facilities, maximum amount	750,000,000	750,000,000
Term loan, maximum facility	250,000,000	250,000,000
Term loan, amount outstanding	193,800,000	193,800,000	$ 212,500,000
Line of credit, maximum facility	500,000,000	500,000,000
Line of credit, amount outstanding	89,000,000	89,000,000	175,000,000
Letters of Credit Outstanding, Amount	115,100,000	115,100,000
Letters of credit, amount available	295,900,000	295,900,000
Unsecured line of credit, maximum facility	20,000,000	20,000,000
Unsecured line of credit, amount outstanding	$ 1,800,000	$ 1,800,000	$ 0

Subsidiary Guarantors - Senior Notes (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2013	Dec. 31, 2012
Senior Notes [Line Items]
Carrying value of senior notes	$ 550,000	$ 300,000
Event of default for senior notes - failure of other debt payment at maturity in excess of this amount	$ 50,000
Our ownership percentage of subsidiary guarantors of senior notes	100.00%
Event of default for senior notes - not discharged, bonded or insured judgment in excess of this amount	$ 50,000
Senior Notes Due 2020 [Member]
Senior Notes [Line Items]
Interest rate of senior notes	6.625%
Portion of proceeds from senior notes used to repay outstanding term debt	$ 200,000
Senior notes are redeemable at a premium declining from this percentage	103.313%
Percentage of original aggregate principle amount of senior notes included in repurchase price at change of control	101.00%
Senior Notes Due 2021 [Member]
Senior Notes [Line Items]
Interest rate of senior notes	4.75%
Portion of proceeds from senior notes used to repurchase shares of common stock	$ 200,000
Senior notes are redeemable at a premium declining from this percentage	103.563%
Percentage of original aggregate principle amount of senior notes included in repurchase price at change of control	101.00%

Income Taxes (Details) $ in Millions	9 Months Ended
Income Taxes (Details) $ in Millions	Sep. 30, 2013 USD ($)
Income Tax Examination [Line Items]
Number of Issues in Disagreement with Case Law Applied by Internal Revenue Service	1
Amount of increase in unrecognized tax benefits since year end	$ 2.8

Fair Value (Details) - USD ($) $ in Thousands	Sep. 30, 2013	Dec. 31, 2012
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Carrying value of senior notes	$ 550,000	$ 300,000
Senior Notes Due 2020 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair value of senior notes	312,400	327,000
Carrying value of senior notes	300,000	300,000
Amount of difference between fair value and carrying value	12,400	$ 27,000
Senior Notes Due 2021 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair value of senior notes	232,500
Carrying value of senior notes	250,000
Amount of difference between fair value and carrying value	$ 17,500

Repurchases of Outstanding Securities (Details) - USD ($) $ in Millions	3 Months Ended				9 Months Ended	12 Months Ended
	Dec. 31, 2013	Sep. 30, 2013	Jun. 30, 2013	Mar. 31, 2013	Sep. 30, 2013	Dec. 31, 2012
Accelerated Stock Buyback (Details) [Abstract]
Accelerated stock buyback, gross price paid			$ 200.0
Accelerated stock buyback, initial shares delivered (shares)			4,592,423
Accelerated stock buyback, value of initial shares delivered			$ 160.0
Accelerated stock buyback, additional shares delivered at settlement (shares)	816,916
Accelerated stock buyback, value of final settlement	$ 40.0
Repurchases of Outstanding Securities (Details) [Abstract]
Authorized aggregate amount					$ 1,250.0
Total number of shares repurchased since inception of our stock repurchase program (shares)					36,177,737	31,120,279
Aggregate purchase price of shares repurchased since inception of our stock repurchase program					$ 994.8	$ 777.3
Number of shares repurchased (shares)		0		465,035
Purchase price of shares repurchased				$ 17.4

Segment Information (Details) $ in Thousands	3 Months Ended		9 Months Ended
Segment Information (Details) $ in Thousands	Sep. 30, 2013 USD ($)	Sep. 30, 2012 USD ($)	Sep. 30, 2013 USD ($)	Sep. 30, 2012 USD ($)	Dec. 31, 2012 USD ($)
Segment Information (Details) [Abstract]
Number of retail installment sales stores	43		43
Number of rent-to-own stores in Canada	18		18
Number of rent-to-own stores in Mexico	150		150
Franchising's royalty fee percentage, minimum			2.00%
Franchising's royalty fee percentage, maximum			6.00%
Segment Reporting Information [Line Items]
Revenue	$ 754,780	$ 739,314	$ 2,334,572	$ 2,324,266
Gross profit	529,332	519,341	1,610,630	1,606,731
Operating profit	56,532	68,113	213,252	239,174
Depreciation of property assets	19,421	18,412	56,654	54,744
Amortization and write-down of intangibles	639	2,447	2,694	5,263
Capital expenditures	28,940	24,783	73,761	73,103
Rental merchandise on rent, net	854,580		854,580		$ 821,887
Rental merchandise held for rent, net	217,388		217,388		198,917
Assets	2,937,310		2,937,310		2,869,105
Core U.S. [Member]
Segment Reporting Information [Line Items]
Revenue	608,333	634,575	1,897,586	2,016,761
Gross profit	442,971	460,353	1,365,980	1,444,824
Operating profit	44,943	69,544	179,608	244,215
Depreciation of property assets	16,401	15,981	48,319	47,689
Amortization and write-down of intangibles	497	583	2,267	1,606
Capital expenditures	22,340	22,056	57,537	59,089
Rental merchandise on rent, net	574,871		574,871		597,771
Rental merchandise held for rent, net	205,674		205,674		189,526
Assets	2,513,251		2,513,251		2,508,370
RAC Acceptance [Member]
Segment Reporting Information [Line Items]
Revenue	123,798	83,838	368,454	248,626
Gross profit	74,083	49,737	209,960	137,524
Operating profit	18,855	7,259	52,384	17,024
Depreciation of property assets	1,323	936	3,574	2,620
Amortization and write-down of intangibles	142	897	427	2,690
Capital expenditures	2,819	1,191	7,021	3,582
Rental merchandise on rent, net	261,967		261,967		209,964
Rental merchandise held for rent, net	3,579		3,579		2,979
Assets	351,407		351,407		292,070
International [Member]
Segment Reporting Information [Line Items]
Revenue	14,968	10,871	41,398	27,480
Gross profit	10,739	7,516	29,628	19,125
Operating profit	(7,665)	(9,046)	(20,384)	(23,617)
Depreciation of property assets	1,677	1,475	4,701	4,366
Amortization and write-down of intangibles	0	967	0	967
Capital expenditures	3,781	1,536	9,203	10,432
Rental merchandise on rent, net	17,742		17,742		14,152
Rental merchandise held for rent, net	8,135		8,135		6,412
Assets	71,443		71,443		65,954
Franchising [Member]
Segment Reporting Information [Line Items]
Revenue	7,681	10,030	27,134	31,399
Gross profit	1,539	1,735	5,062	5,258
Operating profit	399	356	1,644	1,552
Depreciation of property assets	20	20	60	69
Amortization and write-down of intangibles	0	0	0	0
Capital expenditures	0	$ 0	0	$ 0
Rental merchandise on rent, net	0		0		0
Rental merchandise held for rent, net	0		0		0
Assets	$ 1,209		$ 1,209		$ 2,711

Stock-Based Compensation (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2013	Sep. 30, 2012
Stock-Based Compensation (Details) [Abstract]
Share-based Compensation	$ 1,800	$ 1,900	$ 5,524	$ 6,673
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross			638,000
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Performance Based, Grants in Period			155,000
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period			85,000
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Method Used			Black-Scholes
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Volatility Rate, Minimum			30.61%
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Volatility Rate, Maximum			44.35%
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Risk Free Interest Rate, Minimum			0.27%
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Risk Free Interest Rate, Maximum			1.73%
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Dividend Rate, Minimum			2.20%
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Dividend Rate, Maximum			2.40%
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Term, Minimum			2 years 120 days
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Term, Maximum			6 years 90 days
Share-based Compensation Arrangements by Share-based Payment Award, Options, Grants in Period, Weighted Average Exercise Price			$ 35.65
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value			9.21
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value			$ 32.45

Earnings Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2013	Sep. 30, 2012
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Number of anti-dilutive stock awards	1,183,826	691,491	1,340,372	1,059,078
Earnings Per Share (Table Details) [Abstract]
Net earnings	$ 27,622	$ 39,910	$ 116,083	$ 136,033
Basic weighted average shares	53,438,000	58,882,000	55,423,000	59,098,000
Effect of dilutive stock options	374,000	430,000	377,000	511,000
Diluted weighted average shares	53,812,000	59,312,000	55,800,000	59,609,000
Basic earnings per common share	$ 0.52	$ 0.68	$ 2.09	$ 2.30
Diluted earnings per common share	$ 0.51	$ 0.67	$ 2.08	$ 2.28

- Definition

The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period.

+ References + Details

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References

+ Details