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Component: (Network and Table)
Network
2301302 - Disclosure - Business and Summary of Significant Accounting Policies (Tables)
(http://www.aarons.com/role/BusinessAndSummaryOfSignificantAccountingPoliciesTables)
Table(Implied)
Slicers (applies to each fact value in each table cell)
Reporting Entity [Axis]0000706688 (http://www.sec.gov/CIK)
Accounting Policies [Abstract]Period [Axis]
2016-01-01 - 2016-12-31
Accounting Policies [Abstract]
 
Schedules of Company Operated Store Activity
The following table presents store count by ownership type for the Company’s store-based operations:
Stores at December 31 (Unaudited)
2016
 
2015
 
2014
Company-Operated Stores
 
 
 
 
 
Sales and Lease Ownership - Aaron's stores
1,165

 
1,223

 
1,243

HomeSmart
—

 
82

 
83

Total Company-Operated Stores
1,165

 
1,305

 
1,326

Franchised Stores1
699

 
734

 
782

Systemwide Stores
1,864

 
2,039

 
2,108

1The Company has awarded 749, 813 and 920 franchises as of December 31, 2016, 2015 and 2014, respectively.
The following table presents active doors for Progressive:
Active Doors at December 31 (Unaudited)
2016
 
2015
 
2014
Progressive Active Doors1
17,963

 
13,248

 
12,307

1 An active door is a retail store location at which at least one virtual lease-to-own transaction has been completed during the trailing three month period.
  
Allowance for Lease Merchandise
The following table shows the components of the allowance for lease merchandise write-offs:
 
Year ended December 31,
(In Thousands)
2016
 
2015
 
2014
Beginning Balance
$
33,405

 
$
27,573

 
$
8,323

Merchandise Written off, net of Recoveries
(134,110
)
 
(130,548
)
 
(80,692
)
Provision for Write-offs
134,104

 
136,380

 
99,942

Ending Balance
$
33,399

 
$
33,405

 
$
27,573

  
Calculation of Dilutive Stock Awards
The following table shows the calculation of dilutive share-based awards:
 
Year Ended December 31,
(Shares In Thousands)
2016
 
2015
 
2014
Weighted Average Shares Outstanding
72,354

 
72,568

 
72,384

Dilutive Effect of Share-Based Awards
659

 
475

 
339

Weighted Average Shares Outstanding Assuming Dilution
73,013

 
73,043

 
72,723

  
Accounts Receivable Net of Allowances
Accounts receivable, net of allowances, consist of the following:
 
December 31,
(In Thousands)
2016
 
2015
Customers
$
36,227

 
$
35,153

Corporate
26,375

 
26,175

Franchisee
33,175

 
52,111

 
$
95,777

 
$
113,439

The following is a summary of the Company’s loans receivable, net:
 
December 31,
(In Thousands)
2016
 
2015
Credit Card Loans
$
64,794

 
$
13,900

Acquired Loans
33,840

 
74,866

Loans Receivable, Gross
98,634

 
88,766

 


 
 
Allowance for Loan Losses
(6,624
)
 
(937
)
Unamortized Fees
(7,206
)
 
(2,034
)
Loans Receivable, Net of Allowances and Unamortized Fees
$
84,804

 
$
85,795

  
Allowance for Doubtful Accounts
The following table shows the components of the accounts receivable allowance:
 
Year Ended December 31,
(In Thousands)
2016
 
2015
 
2014
Beginning Balance
$
34,861

 
$
27,401

 
$
7,172

Accounts Written Off
(167,094
)
 
(155,651
)
 
(79,054
)
Accounts Receivable Provision
167,923

 
163,111

 
99,283

Ending Balance
$
35,690

 
$
34,861

 
$
27,401


The following table shows the amounts recognized for bad debt expense and provision for returns and uncollected renewal payments for the years ended December 31:
 
Year Ended December 31,
(In Thousands)
2016
 
2015
 
2014
Bad Debt Expense
128,333

 
122,184

 
60,514

Provision for Returns and Uncollected Renewal Payments
39,590

 
40,927

 
38,769

Accounts Receivable Provision
$
167,923

 
$
163,111

 
$
99,283

  
Loan Portfolio Credit Quality Indicators
Below is a summary of the credit quality of the Company’s loan portfolio as of December 31, 2016 and 2015 by Fair Issac and Company (FICO) score as determined at the time of loan origination:
 
December 31,
FICO Score Category
2016
 
2015
600 or Less
1.8
%
 
1.1
%
Between 600 and 700
78.1
%
 
79.8
%
700 or Greater
20.1
%
 
19.1
%
  
Schedule of Prepaid Expenses and Other Assets
Prepaid Expenses and Other Assets
Prepaid expenses and other assets consist of the following:
 
December 31,
(In Thousands)
2016
 
2015
Prepaid Expenses
$
75,485

 
$
76,118

Assets Held for Sale
8,866

 
6,976

Deferred Tax Asset
5,912

 
—

Other Assets
18,881

 
19,657

 
$
109,144

 
$
102,751

  
Schedule of Accounts Payable and Accrued Expenses
Accounts Payable and Accrued Expenses
Accounts payable and accrued expenses consist of the following:
 
December 31,
(In Thousands)
2016
 
2015
Accounts Payable
$
71,941

 
$
98,655

Accrued Insurance Costs
47,649

 
55,411

Accrued Salaries and Benefits
41,612

 
47,939

Accrued Real Estate and Sales Taxes
32,986

 
32,952

Deferred Rent
31,859

 
25,110

Other Accrued Expenses and Liabilities
71,719

 
83,606

 
$
297,766

 
$
343,673