| Schedule of Information on Segments and Reconciliation to Earnings Before Income Taxes from Continuing Operations |
The following table presents revenue by source and by segment for the three months ended June 30, 2024 and 2023. The revenues within Other are primarily comprised of the operating activities of Four. | | | | | | | | | | | | | | | | | | | | | | | | | | | | Three Months Ended June 30, 2024 | Three Months Ended June 30, 2023 | | (In Thousands) | Progressive Leasing | Vive | Other | Total | Progressive Leasing | Vive | Other | Total | Lease Revenues and Fees1 | $ | 570,516 | | $ | — | | $ | — | | $ | 570,516 | | $ | 574,839 | | $ | — | | $ | — | | $ | 574,839 | | Interest and Fees on Loans Receivable2 | — | | 15,421 | | 6,224 | | 21,645 | | — | | 17,187 | | 820 | | 18,007 | | | Total | $ | 570,516 | | $ | 15,421 | | $ | 6,224 | | $ | 592,161 | | $ | 574,839 | | $ | 17,187 | | $ | 820 | | $ | 592,846 | |
1 Revenue within the scope of ASC 842, Leases. 2 Revenue within the scope of ASC 310, Receivables. Also included within Interest and Fees on Loans Receivable for the three months ended June 30, 2024 is $2.3 million of subscription fee and interchange revenue within the scope of ASC 606, Revenue from Contracts with Customers. The following table presents revenue by source and by segment for the six months ended June 30, 2024 and 2023: | | | | | | | | | | | | | | | | | | | | | | | | | | | | Six Months Ended June 30, 2024 | Six Months Ended June 30, 2023 | | (In Thousands) | Progressive Leasing | Vive | Other | Total | Progressive Leasing | Vive | Other | Total | Lease Revenues and Fees1 | $ | 1,191,066 | | $ | — | | $ | — | | $ | 1,191,066 | | $ | 1,211,921 | | $ | — | | $ | — | | $ | 1,211,921 | | Interest and Fees on Loans Receivable2 | — | | 31,471 | | 11,494 | | 42,965 | | — | | 34,340 | | 1,725 | | 36,065 | | | Total | $ | 1,191,066 | | $ | 31,471 | | $ | 11,494 | | $ | 1,234,031 | | $ | 1,211,921 | | $ | 34,340 | | $ | 1,725 | | $ | 1,247,986 | |
1 Revenue within the scope of ASC 842, Leases. 2 Revenue within the scope of ASC 310, Receivables. Also included within Interest and Fees on Loans Receivable for the six months ended June 30, 2024 is $3.7 million of subscription fee and interchange revenue within the scope of ASC 606, Revenue from Contracts with Customers. The following is a summary of earnings before income tax expense by segment. The loss before income taxes within Other is primarily comprised of the operating activities of certain other strategic initiatives. | | | | | | | | | | | | | Three Months Ended June 30, | | (In Thousands) | 2024 | | 2023 | | Earnings Before Income Tax Expense: | | | | | Progressive Leasing | $ | 53,966 | | | $ | 55,422 | | | Vive | 631 | | | 1,758 | | | Other | (6,258) | | | (5,166) | | | Total Earnings Before Income Tax Expense | $ | 48,339 | | | $ | 52,014 | |
| | | | | | | | | | | | | Six Months Ended June 30, | | (In Thousands) | 2024 | | 2023 | | Earnings Before Income Tax Expense: | | | | | Progressive Leasing | $ | 89,419 | | | $ | 126,473 | | | Vive | 1,549 | | | 3,921 | | | Other | (11,062) | | | (10,793) | | | Total Earnings Before Income Tax Expense | $ | 79,906 | | | $ | 119,601 | |
The following is a summary of total assets by segment. The amount within Other is primarily comprised of the assets of Four. | | | | | | | | | | | | | (In Thousands) | June 30, 2024 | | December 31, 2023 | | Assets: | | | | | Progressive Leasing | $ | 1,273,834 | | | $ | 1,286,587 | | | Vive | 134,576 | | | 141,028 | | | Other | 52,297 | | | 63,640 | | | Total Assets | $ | 1,460,707 | | | $ | 1,491,255 | |
The following table presents additional segment profit or loss information for the three and six months ended June 30, 2024 and 2023: | | | | | | | | | | | | | | | | | | | | | | | | | Three Months Ended June 30, | | Six Months Ended June 30, | | (In Thousands) | 2024 | | 2023 | | 2024 | | 2023 | | Depreciation and Amortization: | | | | | | | | | Progressive Leasing | $ | 5,660 | | | $ | 7,216 | | | $ | 12,891 | | | $ | 14,542 | | | Vive | 166 | | | 182 | | | 332 | | | 350 | | | Other | 671 | | | 518 | | | 1,292 | | | 1,003 | | Total Depreciation and Amortization1 | $ | 6,497 | | | $ | 7,916 | | | $ | 14,515 | | | $ | 15,895 | | | | | | | | | | | Depreciation of Lease Merchandise: | | | | | | | | | Progressive Leasing | $ | 384,799 | | | $ | 384,874 | | | $ | 816,370 | | | $ | 820,313 | | | Vive | — | | | — | | | — | | | — | | | Other | — | | | — | | | — | | | — | | | Total Depreciation of Lease Merchandise | $ | 384,799 | | | $ | 384,874 | | | $ | 816,370 | | | $ | 820,313 | | | | | | | | | | | Interest Expense, Net: | | | | | | | | | Interest Expense: | | | | | | | | | Progressive Leasing | $ | 9,989 | | | $ | 9,506 | | | $ | 19,982 | | | $ | 18,913 | | | Vive | — | | | 166 | | | — | | | 457 | | | Other | — | | | — | | | — | | | — | | Intercompany Elimination | (316) | | | — | | | (633) | | | — | | | Interest Income: | | | | | | | | | Progressive Leasing | $ | (2,334) | | | $ | (2,389) | | | $ | (3,760) | | | $ | (3,596) | | | Vive | — | | | — | | | — | | | — | | | Other | (316) | | | — | | | (633) | | | — | | Intercompany Elimination | 316 | | | — | | | 633 | | | — | | Total Interest Expense, Net | $ | 7,339 | | | $ | 7,283 | | | $ | 15,589 | | | $ | 15,774 | | | | | | | | | | Capital Expenditures2: | | | | | | | | | Progressive Leasing | $ | 1,250 | | | $ | 1,592 | | | $ | 2,655 | | | $ | 2,598 | | | Vive | 100 | | | 221 | | | 168 | | | 324 | | | Other | 553 | | | 897 | | | 1,176 | | | 1,466 | | | Total Capital Expenditures | $ | 1,903 | | | $ | 2,710 | | | $ | 3,999 | | | $ | 4,388 | |
1 Excludes depreciation of lease merchandise, which is not included in the chief operating decision maker's measure of depreciation and amortization. 2 Capital expenditures primarily consists of internal-use software, as well as computer hardware and furniture and equipment.
|