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Aaron's Inc (AAN) SEC Filing 10-K Annual report for the fiscal year ending Tuesday, December 31, 2019

Aaron's Inc

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CIK: 706688



EXHIBIT 99.1

Contact:
Aaron’s, Inc.
 
 
Michael P. Dickerson
 
 
Vice President, Corporate Communications & Investor Relations
 
 
678.402.3590
 
 
Mike.Dickerson@Aarons.com
 


Aaron’s, Inc. Reports Fourth Quarter Revenue and Earnings

•
Revenues of $1.0 Billion; Non-GAAP Revenues Up 8.4%
•
Diluted EPS ($1.60); Non-GAAP Diluted EPS $1.15, Up 12.7%
•
Progressive Reports Record Revenues; Invoice Growth Accelerates to 34.4%
•
Aaron's Business Same Store Revenues up 0.4%
•
Progressive Reaches Agreement In Principle with FTC Staff, Records $179 million charge

ATLANTA, February 20, 2020 - Aaron’s, Inc. (NYSE: AAN), a leading omnichannel provider of lease-purchase solutions, today announced financial results for the
three months ended December 31, 2019.
"Aaron's finished the year on a positive note with record annual revenues, adjusted EBITDA and non-GAAP EPS. Progressive's invoice growth accelerated significantly in the fourth quarter, up 34.4% compared to the prior year. In addition, collections performance at the Aaron's Business improved significantly during the quarter, contributing to positive same-store revenues and strong adjusted EBITDA," said John Robinson, Chief Executive Officer.
"Finally, I’m pleased to report that Progressive has reached an agreement in principle with the staff of the FTC regarding the Civil Investigative Demand Progressive received in July 2018.  Under the proposed agreement, which requires final approval by FTC Commissioners and the U.S. District Court for the Northern District of Georgia, Progressive will make a payment of $175 million and enhance certain compliance-related activities, including monitoring, disclosure and reporting requirements.  We have agreed to settle this matter to avoid the distraction and uncertainty caused by protracted litigation and allow Progressive to remain focused on providing competitive, flexible and affordable purchase options to credit-challenged consumers,” Mr. Robinson concluded.


The following information was filed by Aaron's Inc on Thursday, February 20, 2020 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Inside Aaron's Inc's 10-K Annual Report:

Financial Statements, Disclosures and Schedules

Inside this 10-K Annual Report

Document And Entity Information
Consolidated Balance Sheets
Consolidated Balance Sheets (Parenthetical)
Consolidated Statements Of Cash Flows
Consolidated Statements Of Comprehensive Income
Consolidated Statements Of Earnings
Consolidated Statements Of Shareholders' Equity
Consolidated Statements Of Shareholders' Equity (Parenthetical)
- Quarterly Financial Information (Unaudited) (Details)
Acquisitions
Acquisitions (Tables)
Acquisitions - Fair Value Of Assets Acquired And Liabilities Assumed (Details)
Acquisitions - Intangible Assets Acquired (Details)
Acquisitions - Narrative (Details)
Business And Summary Of Significant Accounting Policies
Business And Summary Of Significant Accounting Policies (Policies)
Business And Summary Of Significant Accounting Policies (Tables)
Business And Summary Of Significant Accounting Policies - Accounts Payable And Accrued Expenses (Details)
Business And Summary Of Significant Accounting Policies - Accounts Receivable Net Of Allowances (Details)
Business And Summary Of Significant Accounting Policies - Accounts Receivable Provision (Details)
Business And Summary Of Significant Accounting Policies - Allowance For Doubtful Accounts (Details)
Business And Summary Of Significant Accounting Policies - Calculation Of Dilutive Stock Awards (Details)
Business And Summary Of Significant Accounting Policies - Credit Quality Indicators (Details)
Business And Summary Of Significant Accounting Policies - Hurricane Impact (Details)
Business And Summary Of Significant Accounting Policies - Interest And Fees On Loans Receivable (Details)
Business And Summary Of Significant Accounting Policies - Lease Merchandise (Details)
Business And Summary Of Significant Accounting Policies - Narrative (Details)
Business And Summary Of Significant Accounting Policies - Prepaid Expenses And Other Assets (Details)
Business And Summary Of Significant Accounting Policies - Recent Accounting Pronouncements (Details)
Business And Summary Of Significant Accounting Policies - Store Count By Ownership Type (Details)
Commitments And Contingencies
Commitments And Contingencies - Narrative (Details)
Compensation Arrangements
Compensation Arrangements - 401(K) Defined Contribution Plan (Details)
Compensation Arrangements - Deferred Compensation (Details)
Fair Value Measurement
Fair Value Measurement (Tables)
Fair Value Measurement - Assets Measured At Fair Value On Nonrecurring Basis (Details)
Fair Value Measurement - Fair Value Of Assets (Liabilities) Not Measured At Fair Value In Consolidated Balance Sheets (Details)
Fair Value Measurement - Narrative (Details)
Fair Value Measurement - Summary Of Financial Assets And Liabilities Measured At Fair Value On Recurring Basis (Details)
Goodwill And Intangible Assets
Goodwill And Intangible Assets (Tables)
Goodwill And Intangible Assets - Estimated Future Amortization Expense (Detail)
Goodwill And Intangible Assets - Indefinite-Lived Intangible Assets (Details)
Goodwill And Intangible Assets - Narrative (Detail)
Goodwill And Intangible Assets - Summary Of Carrying Value Of Goodwill By Operating Segment (Details)
Goodwill And Intangible Assets - Summary Of Identifiable Intangible Assets (Details)
Income Taxes
Income Taxes (Tables)
Income Taxes - Components Of Deferred Income Tax Liabilities And Assets (Details)
Income Taxes - Effective Tax Rate Differs From Statutory United States Federal Income Tax Rate (Details)
Income Taxes - Narrative (Details)
Income Taxes - Summary Of Activity Related To Uncertain Tax Positions (Details)
Income Taxes - Summary Of Income Tax Expense (Details)
Indebtedness
Indebtedness (Tables)
Indebtedness - Future Maturities Of Long Term Debt And Capital Lease Obligations (Details)
Indebtedness - Narrative (Details)
Leases
Leases - Leasing Activities (Details)
Leases - Narrative (Details)
Leases - Operating And Finance Lease Liability (Details)
Leases - Summary Of The Weighted-Average Discount Rate And Weighted-Average Remaining Lease Term (Details)
Leases - Supplemental Balance Sheet Information Related To Leases (Details)
Leases - Total Lease Expense (Details)
Leases (Tables)
Loans Receivable
Loans Receivable (Tables)
Loans Receivable - Aging Of The Loans Receivable Balance (Details)
Loans Receivable - Components Of Loans Receivable, Net (Details)
Loans Receivable - Components Of The Allowance For Loan Losses (Details)
Property, Plant And Equipment
Property, Plant And Equipment (Tables)
Property, Plant And Equipment - Narrative (Details)
Property, Plant And Equipment - Summary Of Property, Plant And Equipment (Details)
Property, Plant And Equipment - Summary Of Property, Plant And Equipment (Footnote) (Details)
Quarterly Financial Information (Unaudited)
Quarterly Financial Information (Unaudited) (Tables)
Quarterly Financial Information (Unaudited) - Narrative (Details)
Related Party Transactions
Related Party Transactions - Narrative (Details)
Restructuring
Restructuring (Tables)
Restructuring - Narrative (Details)
Restructuring - Summary Of Accruals Of Restructuring Programs (Details)
Restructuring - Summary Of Restructuring Charges By Segment (Details)
Segments
Segments (Tables)
Segments - Disaggregated Revenue (Details)
Segments - Information On Segments And Reconciliation To Earnings Before Income Taxes From Continuing Operations (Details)
Segments - Information On Segments And Reconciliation To Earnings Before Income Taxes From Continuing Operations (Footnote) (Details)
Segments - Narrative (Details)
Shareholders' Equity
Shareholders' Equity (Details)
Stock-Based Compensation
Stock-Based Compensation (Tables)
Stock-Based Compensation - Employee Stock Purchase Plan (Details)
Stock-Based Compensation - Narrative (Details)
Stock-Based Compensation - Summary Information About Stock Options Outstanding (Details)
Stock-Based Compensation - Summary Of Restricted Stock And Performance Share Units Activity (Details)
Stock-Based Compensation - Summary Of Stock Option Activity (Details)
Stock-Based Compensation - Weighted Average Valuation Assumptions (Details)
CIK: 706688
Form Type: 10-K Annual Report
Accession Number: 0000706688-20-000012
Submitted to the SEC: Thu Feb 20 2020 9:24:01 AM EST
Accepted by the SEC: Thu Feb 20 2020
Period: Tuesday, December 31, 2019
Industry: Equipment Rental And Leasing

External Resources:
SEC.gov

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