Upbound Group, Inc. · NASDAQ:UPBD
Upbound — Investor Day (May 2023)
89 slides from Upbound's investor day presentation, May 2023
Slide 1: Investor Day
Investor Day May 2023
Slide 2: Disclosures
Investor Day 2 Disclosures Forward-Looking Statements This communication contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including. among others, statements regarding our goals, plans and projections with respect to our operations, fina
Slide 3: Agenda
Investor Day Agenda 10:00 am – 1:00 pm 1 Upbound Mitch Fadel, Sudeep Gautam, Brendan Metrano 2 Rent-A-Center Anthony Blasquez Break Acima 3 Tyler Montrone 4 Finance Overview Fahmi Karam 5 Q&A 3
Slide 4: Mitch Fadel
upbound @) Mitch Fadel
Slide 5: Key Investment Highlights
Upbound 5 Key Investment Highlights Industry leader within a large and underserved market 1 Leader in LTO space with retail and virtual lease-to-own capabilities Estimated $45-$55 billion market with 106 million non-prime core consumers Resilient business model that performs well under various macro
Slide 6: Elevating Financial Opportunity for All
Upbound Elevating Financial Opportunity for All Upbound provides consumers access to financial growth and confidence. Our platform creates value by seamlessly connecting consumers with the products they want and need. 6
Slide 7: A Solutions Platform for the Financially Underserved
Upbound 7 A Solutions Platform for the Financially Underserved U.S. Adult Population 58% Have less than 64% Living paycheck to $1,000 in savings, paycheck 106M 149M while 26% have no savings 57M Non-Prime 114M Prime 63% 33% 28M No Credit file 35M Near-Prime Consumers earning <$75k that feel Consumer
Slide 8: Led with Deep Market Knowledge and Strong Functional Expertise
Upbound 8 Led with Deep Market Knowledge and Strong Functional Expertise Operating Unit Leaders Anthony Blasquez Head of Tyler Montrone Head of Acima Rent-A-Center Mitch Fadel Fahmi Karam Sudeep Gautam Ann Davids Mike Bagull Director & Chief Chief Financial Chief Technology & Chief Customer & Busine
Slide 9: We Employ a True Omni-Channel Model
Upbound 9 We Employ a True Omni-Channel Model ~2,400 corporate and franchise >31k retail partners in 46 states stores in the communities we serve Serving lease to own customers in ~25% of revenue from e-commerce several diverse industries Operations in all 50 states, Mexico Proprietary technology an
Slide 10: Long History of Serving Our Customers
Upbound 10 Long History of Serving Our Customers Our established operations are strongly-rooted in our communities, with 50 years deep customer and retailer relationships that help provide consumers with access to the products they want and need 1993- 2010 - 1973 2005 2005 2014 2021 2023 Rent-A-Cent
Slide 11: Strong Financial Profile
Upbound 11 Strong Financial Profile Diversified Revenue Mix Steady Revenue Stream Adjusted EBITDA & Margin1,2 (2022) (2022) $647M 79.5% $563M $453M $394M 45.9% 49.7% 18.1% 2019 2020 2021 2022 4.4% 2.4% 11.1% 13.8% 13.5% 10.7% Rent-A-Center Acima Other Rental & Fees Merchandise Sales Other Rent-A-Cen
Slide 12: Offering a Solutions Platform
Upbound 12 Offering a Solutions Platform Making Challenging Commerce Possible Consumers Retailers Limited financial access Pressure for new customers, Underwriting Technology sales, and growth channels UPBD Value Servicing Capital Financial Access UPBD Value Logistics CX & UX Increase Sales Payment
Slide 13: Upbound Partner Touchpoints – a Differentiator
Upbound 13 at work Upbound Partner Touchpoints – a Differentiator RAC retail Acima Acima on Acima In-store POS Second 1 purchases 2 Marketplace 3 Partner Website 4 (Virtual & Staffed) 5 Look Credit Furniture Technology Big Box RAC Retail Inventory Purchases Extended Aisle on Rent-A-Center Extended A
Slide 14: Our Industry & Opportunity
Our Industry & Opportunity 14
Slide 15: We Serve Two Large Stakeholders
Upbound – Our Industry & Opportunity 15 We Serve Two Large Stakeholders Consumers Retailers Limited financial access & Pressure for new customers growth opportunities and growth channels
Slide 16: Lease / Rent-to-Own Industry and Our Customers
Upbound – Our Industry & Opportunity 16 Lease / Rent-to-Own Industry Our Customers Income $48k Average Income | Acima $45B to $55B $37k Average Income | RAC Age Trending Younger 65% Gen Z & Millennial Gender 48% Male Access at 52% Female Consumers Retailers Household 53% Family Households $4.2B Upbo
Slide 17: Lease / Rent-to-Own Industry and Our Retailers
Upbound – Our Industry & Opportunity 17 Lease / Rent-to-Own Industry Our Retailers Large Industry 400 – 450k Durable Goods Locations in U.S. Upbound SMB Partner Mix Share of US Durable % of GMV Goods Retailers Retailers Customers Electronics & Other Store Appliances Furniture 31,000 at Acima Jewelry
Slide 18: Expanding Our Offerings = Enabling Growth in Two Channels
Upbound – Our Industry & Opportunity 18 Expanding Our Offerings = Enabling Growth in Two Channels International Consumers • Expand offering to increase access to financial opportunities Everyday Needs • Elevate customer lifetime value • Increase addressable expenditure share New Industries Retailers
Slide 19: Strategic Priorities
Strategic Priorities 19
Slide 20: Upbound Strategic Priorities
Upbound – Strategic Priorities 20 Upbound Strategic Priorities 1 2 3 Invest in Expand Offerings Optimize Our Platform and Financial Offerings Access Improve our core Provide consumers business, while creating Add new products that a personalized journey a foundation for create more financial through
Slide 21: Invest in Our Platform
Upbound – Strategic Priorities 21 1 Invest in Our Platform Core Growth Improve our core solutions through Omni-channel enablement, customer loyalty, and expansion of products and retail relationships Systems Further develop integrated technologies to better meet current and future retailer and consu
Slide 22: Expand Offerings and Financial Access
Upbound – Strategic Priorities 22 2 Expand Offerings and Financial Access New Financial Solutions Elevate Consumer Opportunity Adjacent and complementary products to increase Platform that continuously engages customers, customer opportunity through expanded access provides financial options, and cu
Slide 23: Expanding Offering Beyond Lease-to-Own
Upbound – Strategic Priorities 23 Expanding Offering Beyond Lease-to-Own Increase Financial Solutions Options Expand Addressable Market Beyond Durable Goods General Purpose Credit Card Retail Credit & Lease Solution Offered to qualified Upbound customers Grow retailers' sales and attract more custom
Slide 24: Optimize Offerings
Upbound – Strategic Priorities 24 3 Optimize Offerings Consumers Retailers Become consumers product of choice to reach Develop solutions that better enable our retailers the next step in their financial journey; provide to access our customers & customers to shop at opportunity when circumstances ch
Slide 25: Technology Enabling the Power of Choice
TECHNOLOGY ENABLING THE POWER OF CHOICE SPEED . SCALE . STABILITY Sudeep Gautam 25
Slide 26: Our Digital Footprint has Delivered Exceptional Results
Upbound – Technology 26 Our Digital Footprint has Delivered Exceptional Results 5.1M Applications Processed in 57% 4-year CAGR RAC $9B Approvals in 2022 40M Payment 2022 Web Growth Transactions in 2022 Digital Product Portfolio Acquire Transact E-commerce & Customer Decision & Retailer Integration I
Slide 27: And We are Just Getting Started
Upbound – Technology 27 And We are Just Getting Started Winning beyond the core with hyper-personalization Expected Outcomes • Omni-channel Experience 5% reduction in negative lease outcomes Supercharge 6-10% improvement in application • Frictionless Approval Customer completion rate Loyalty • Retai
Slide 28: Creating Expanded Gateways to Unlock the Power Of Choice
Upbound – Technology 28 Creating Expanded Gateways to Unlock the Power Of Choice Financial Access | Deeper Engagements | Growth Technology Domains Data & Intelligence Ubiquitous, Trustworthy, & Secure Software Engineering Product Management Software Engineering Excellence Speed, Productivity, & Qual
Slide 29: Anthony Blasquez
Anthony Blasquez 29
Slide 30: Leading Dedicated Lease-to-Own Retail Platform
Rent-A-Center 30 Leading Dedicated Lease-to-Own Retail Platform Established Leader Access to Top Quality, Large Market Strong Customer in Financial Access Durable Goods Brands Presence Value Proposition • 50-year history • ~2,300 retail locations • Quality products • 98% of transactions with strong
Slide 31: Serving a Set of Consumers with Specific Needs
Rent-A-Center 31 Serving a Set of Consumers with Specific Needs Rent-A-Center Customers Household Income Overall U.S. Distribution FICO Scores in April 2021 10% <$30K 16% 15% 53% $30K - $50K $50K - $75K 22% >$75K - $100K 300 - 599 46% 600 - 749 750 - 850 38% National Distribution 25% <$30K $30K-$50K
Slide 32: A Differentiated Business Model to Meet Consumers' Needs
Rent-A-Center 32 A Differentiated Business Model to Meet Consumers' Needs Product Sourcing Shopping Acquisition Wholesale Retail In-Store Online Underwriting Agreement Delivery Setup Ownership Options Post Transaction Customers Paid in Full Early Payout Account Management After achieving ownership,
Slide 33: Our Local Store Base and Co-Workers are a Key Strategic Asset
Rent-A-Center 33 Our Local Store Base and Co-Workers are a Key Strategic Asset ~2,400 Stores Product Deliveries, Returns, and Service Across 50 States, Puerto Last Mile • Enables quick, flexible, and reliable delivery, Rico, and Mexico & pickups, and service Service • Ease of returns allows for deep
Slide 34: History of Stable Revenues & Strong Profits and Cash Generation
Rent-A-Center 34 1973 Rent-A-Center Founded History of Stable Revenues & Strong Profits and Cash Renter’s Choice acquires Rent-A-Center to form Generation the largest Rent-to-Own company in the U.S. 1998 with ~3,000 stores. Adopts the Rent-A-Center name Revenue¹ 2008 Rent-A-Center topline trends out
Slide 35: Macro Impact on Profits is Normalizing
Rent-A-Center 35 Macro Impact on Profits is Normalizing $140 Adjusted EBITDA1 ($ millions) $131 30% EBITDA Margin $126 $120 $115 $106 $107 $104 25% $103 $98 $100 $92 $73 $75 $77 $74 20% $80 $72 $67 $68 $59 15% $60 $40 10% $20 $0 5% Q1'19 Q2'19 Q3'19 Q4'19 Q1'20 Q2'20 Q3'20 Q4'20 Q1'21 Q2'21 Q3'21 Q4
Slide 36: Snapshot of the Business
Rent-A-Center 36 Snapshot of the Business $1.7B 1.2M 1M Portfolio Mix Appliance 10% 4% 22% Annualized Average Agreements Unique Customers Electronics Portfolio Value on Rent Transacting Furniture Mobile/Computers 22% 42% Other 2022 2022 2022 2022 3.6% 54M E-Commerce % of Revenue 25% Rolling five-yea
Slide 37: Strong E-Commerce Growth
Rent-A-Center 37 Strong E-Commerce Growth Web Visits and Lead Volume Web Visits Web Leads 16 500 Key Initiatives Millions 14 450 12 400 10 350 8 300 Website Optimizations 6 250 Thousands 4 FY 2018 to FY 2022 200 Visits: +67% 2 Leads: +32% 150 Centralized Decisioning 0 100 Full Online Transactions We
Slide 38: Our Opportunity to Drive Growth
Rent-A-Center 38 Our Opportunity to Drive Growth Significant Internal Large Untapped Opportunities Addressable Market Five-year look-back 5.1M 5.1M Unique web Unique web customer leads customer leads >40M Customers 3.3M Unique customers served
Slide 39: Strategic Priorities
Rent-A-Center 39 Strategic Priorities Efficiently grow customers and lifetime value RAC Omni-Channel 1 Convert more customers & attract new prospects Grow Customers Central Digital 2 Retain more customers & upsell and cross-sell Increase Customer Lifetime Value Improve Operational Efficiencies 3 Inc
Slide 40: Grow Customers
Rent-A-Center 40 1 Grow Customers Conversion Attract New Prospects Increase E-Commerce Throughput Marketing Make meaningful web enhancements to reduce Drive new prospects to the web and stores friction & boost throughput New Products & Sourcing Central Sales Support Attract new customers through div
Slide 41: Increase Customer Lifetime Value
Rent-A-Center 41 2 Increase Customer Lifetime Value Retention Upsell & Cross-Sell Enhance Our Value Proposition Personalized Digital Sales Increase customer loyalty through new program Increase lifetime agreements per customer via flexibility and gamification journey-based digital personalization Pe
Slide 42: Improvement of Operational Efficiencies
Rent-A-Center 42 3 Improvement of Operational Efficiencies Increase Productivity Underwriting & Losses Centralize & Digitize Introduce New Tools Enable sales and collections activities across the Explore and launch new tools to enhance Omni-channel to improve capacity and experience underwriting acc
Slide 43: Key Takeaways
Rent-A-Center 43 Key Takeaways High value proposition for customers creates Estimated Business Growth a resilient business with strong profitability 2023 – 2026 (CAGR) and cash flow generation Low High > Proven, stable track record of sustained profits Revenue Growth 2% 4% > Evolved through pandemic
Slide 44: Break
upbound Return in 15 minutes.
Slide 45: Tyler Montrone
Tyler Montrone 45
Slide 46: Our History
Acima 46 Our History 2013 2017 2018 2019 Early Late 2021 2022 - 2021 2021 2023 Acima founded in Strategic entry into Enrolled our Acima grows Acquired by Launched Salt Lake City new verticals/ 10,000th retailer & GMV by 58% Rent-A-Center & proprietary digital Exceeds 1M app industries enabled e-com
Slide 47: A Leading Fintech Platform
Acima 47 A Leading Fintech Platform Delivering high growth in the Virtual Lease-to-Own Market for a decade $1.6B 1.5M >31,000 Retail Locations Powered with Acima 2022 GMV Generated 2022 Customers Served Furniture B&M - Virtual Auto B&M - Staffed Jewelry E-com Electronics & Appliances Other
Slide 48: Serving Two Large Sets of Customers with Unmet Needs
Acima 48 Serving Two Large Sets of Customers with Unmet Needs $45-$55B Total Addressable Market Accessed Through Two Channels Consumers Retailers Significant Adult Population Who Lack Access Large Durable Goods Retailer Base to Impact 106M | 57M Non-prime & 49M with no-to-limited 280K Retailers 45
Slide 49: Platform that Enables Consumers & Retailer Commerce
Acima 49 Platform that Enables Consumers & Retailer Commerce Consumers Retailers Acima Value Acima Value Creation Platform Creation Shopping power for those • Proprietary Technology, Data Convert credit who may not qualify for credit Analytics, & Underwriting declined customers Enables access to bro
Slide 50: Our Platform and Products
Acima 50 Our Platform and Products Technology developed to seamlessly allow our retailers and customers to transact For Our Customers For Our Retailers Support Models Virtual Hybrid Staff Online Online E-commerce Shop Plug-ins Apply Waterfall Checkout In-Store Partners Service MarketPlace Mobile App
Slide 51: Customer Experience
Acima 51 Customer Experience Simple. •. Intuitive . •. Flexible Shop >30k Locations Apply Approved Checkout Manage Tyler Tyler • On Our Site • On your device • Use Online • Make Initial Payment • Make Payments • Our Partners’ Site • Stores device • Use Instore • Sign Lease Agreement • Return Product
Slide 52: Flexible Transaction Value
Acima 52 Flexible Transaction Value Flexible Lease Options Credit Card 90 Days Option #1 Customer Option $1,075 $1,0611 Anytime before 90 days Cost at 90 days Own Take it home Early Purchase with a low $1,650 initial payment 8 months – Pay 65% of remaining payments Pay Over Full Lease Term $2,050 $1
Slide 53: Merchant Experience
Acima 53 Merchant Experience Simple. •. Intuitive . •. Flexible Engage Customers Attract Customers Convert Customers Transact Re-Engage Easy to understand Highlighted on Materials to make Track Pipeline of All Marketing Journey to value proposition Acima.com & Mobile App engagement easy Interested C
Slide 54: We Have Delivered Strong Growth
Acima 54 We Have Delivered Strong Growth Retailer Expansion 23.6% Customer Growth 19.0% GMV Growth 26.6% CAGR CAGR CAGR 2018 2019 2020 2021 2022 2018 2019 2020 2021 2022 2018 2019 2020 2021 2022 Growing our retail network has been the primary historical driver of growth for our business Note: Exclud
Slide 55: Diversified Into New Products and Channels
Acima 55 Diversified Into New Products and Channels Description 2018 2020 2022 Key Industry Furniture Portfolio Mix Auto The business continues Jewelry to grow in core industries, while Elec/app expanding in others Other Channel Mix Consumer shopping behavior has moved to In-Store an Omni-channel On
Slide 56: Underwriting at the Center of Our Platform
Acima 56 Underwriting at the Center of Our Platform Data from more than 10+ million customers guides underwriting Fast Granular Aggregates thousands of data Customer behavior allows Acima points from dozens of sources to tailor the risk profile for Custom to render a decision in seconds Risk retaile
Slide 57: Return to Growth 2H'2023
Acima 57 Return to Growth 2H'2023 Headwinds that drove a 23% decrease in GMV for 2022 should continue to abate in the second half of 2023 Acima GMV | YoY % Change Merchant and Product Diversification Outpacing Demand Pressure Cycling Past Substantial Flat Tightening in Underwriting Q1 '21 Q2 '21 Q3
Slide 58: Significant Long-Term Growth Opportunities
Acima 58 Significant Long-Term Growth Opportunities Our estimated market share measured across our industry & consumer bases remains underpenetrated Merchant Locations that Offer U.S. Adult Population that Could Estimated Annual Addressable Consumer Durable Goods Use Lease-to-Own Solution Lease & Re
Slide 59: Strategic Priorities to Enable Growth
Acima 59 Strategic Priorities to Enable Growth 1 2 3 Grow Retailer Increase Improve Base Lifetime Value Profitability Enhance our network of Increase the lifetime Continuously improve our retailers and create value of customers operations in order to innovative ways to shop and retailers deliver cus
Slide 60: Grow Retailer Base
Acima 60 Grow Retailer Base Retailer Expansion Expand our retailer base to provide more choice Expand Acima in Expand strategic Improve market share across the Acima network in our core verticals new verticals partnerships to enable Acima in more places Consumer Choice Develop solutions that put + s
Slide 61: Increase Lifetime Value
Acima 61 Increase Lifetime Value More customers • Leverage our customer network to drive incremental sales to our retail partners • Leverage our retail network to Our Retailers Our Consumers provide customers more choices Enable retailers with an Become a repeat shopping and opportunities to lease o
Slide 62: Improve Profitability
Acima 62 Improve Profitability Risk Continuously improve risk & underwriting, while also leveraging Upbound assets Leverage data across Invest in solutions that Leverage Upbound all business lines to will continue to reduce people, process, and and data enhance decisioning fraud in an increasing str
Slide 63: Additional Opportunities
Acima 63 Additional Opportunities SMB Integrated Offering Enterprise (Credit + Leasing) Partnerships Retailer Value Increased Interest • Single integration with two products • Macro-environment is increasing interest in • Higher conversion rates customer & sales growth • Increase loyalty & repeat bu
Slide 64: Key Takeaways
Acima 64 Key Takeaways Scalable platform with a diversified approach to enable sustainable growth > Large, untapped market Estimated Business Growth opportunity focused on two 2023 – 2026 (CAGR) large stakeholders: Consumers and Retailers Low High GMV 10% 12% > Platform emphasizing customer and merc
Slide 65: Financial Overview
Financial Overview Fahmi Karam 65
Slide 66: Proven and Scalable Business Model to Capture Opportunity
Financial Overview 66 Proven and Scalable Business Model to Capture Opportunity Two core business segments with complementary commercial and financial attributes that generate a stable and strong stream of free cash flow, with significant opportunity for long-term growth • 50-year established brand
Slide 67: Strong Growth, Profitability, and Cash Flow
Financial Overview 67 Strong Growth, Profitability, and Cash Flow¹ Revenues² CAGR: 6.3% Adj. EBITDA³ CAGR: 4.8% $'s Millions $'s Millions $4,778 $647 $4,072 $4,245 $563 $3,537 $309 $453 $394 $2,523 $2,110 $293 $1,616 $2,068 $217 $225 $375 $470 $1,800 $1,853 $2,038 $1,950 $271 $357 2019 2020 2021 202
Slide 68: Driven by Solid Underlying Unit Economics
Financial Overview 68 Driven by Solid Underlying Unit Economics Most customers opt to exercise a purchase option, either by Same-as-Cash (SAC) or Early Payout Option (EPO). On average, RAC covers wholesale costs in all scenarios. SAC is the most likely outcome at Acima which drives overall level of
Slide 69: Resilient Business Model that Performs Well Across Cycles
Financial Overview 69 Resilient Business Model that Performs Well Across Cycles Normal vs. Strong Normal vs. Weak Macroeconomic Conditions Macroeconomic Conditions Consumers Prime Prime Trade-Down ≥720 Prime Prime ≥720 Consumers Trade-Up Near-Prime 621-720 Near-Prime Near-Prime 621-720 Near-Prime cu
Slide 70: 2023 Should Be a Normalized Base for Growth
Financial Overview 70 2023 Should Be a Normalized Base for Growth Pandemic-related stimulus drove high portfolio values and revenue, as well as low loss rates, in 2020 and 2021. 2022 benefited from large portfolio, however inflation took a toll on consumer demand and performance. After underwriting
Slide 71: Underwriting Improvements
Financial Overview 71 Underwriting Improvements Continuous improvements to underwriting, fraud protection, and risk management increase efficiency and returns Underwriting Fraud Risk Management • Granular decisioning • New fraud solutions • Established KPI-based framework enables risk reduce frictio
Slide 72: Risk Indicators Demonstrate Positive Trends
Financial Overview 72 Risk Indicators Demonstrate Positive Trends Disciplined underwriting produced significant improvement in delinquencies and losses Skip Stolen Loss Rates Past Due Rates 20% 20% 14.4% 15% 15% 13.8% 12.6% 12.2% 10.7% 10.2% 12.0% 10% 8.6% 8.9% 10% 8.6% 8.2% 6.5% 7.7% 3.7% 5% 5% 3.0
Slide 73: We Have Levers to Support Profitability
Financial Overview 73 We Have Levers to Support Profitability Productivity Synergy Grow GMV and portfolio Adopt RAC’s Best Practices for Product Returns at Acima Shared Services Model Share Customer Risk Data and Centralize Account Management Across Business Units Launch New Credit Products Grow E-C
Slide 74: Strong Financial Position
Financial Overview 74 Strong Financial Position Solid Credit Profile Ample Liquidity • Operational cash flows sufficient to fund • Liquidity of $560M at Q1 2023 inventory purchases, without relying on • $1.4 billion outstanding debt capital markets • $90 million ABL (2.00%+SOFR) • Ended Q1 2023 with
Slide 75: Capital Allocation to Drive Shareholder Value
Financial Overview 75 Capital Allocation to Drive Shareholder Value Disciplined capital allocation strategy with a focus on optimizing long-term shareholder value Optimizing Shareholder Value $ millions 2021 2022 2023 Q1 1 Reinvest in the business Operating Cash Flow $ 392 $ 469 $ 105 Uses of Cash F
Slide 76: Shareholder Value Creation Algorithm 2023-2026
Financial Overview 76 Shareholder Value Creation Algorithm 2023-2026 Estimated Business Growth Annual Total Shareholder Return Illustration1 2023 – 2026 (CAGR) TSR Algorithm Mid-Point 2023 – 2026 25% Low High 20% Consolidated Revenue 6.0% 8.0% 15% Rent-A-Center 2.0% 4.0% 10% Acima 10.0% 12.0% 5% 0%
Slide 77: Closing Remarks
Closing Remarks Mitch Fadel 77
Slide 78: Key Investment Highlights
Closing Remarks 78 Key Investment Highlights Industry leader within a large and underserved market 1 Leader in LTO space with retail and virtual lease-to-own capabilities Estimated $45-$55 billion market with 106 million non-prime core consumers Resilient business model that performs well under vari
Slide 79: Thank you
upbound Leasing
Slide 80: Appendix
Appendix Upbound 80
Slide 81: Reconciliation of Net Earnings Excluding Special Items and Non-GAAP Diluted EPS (2022)
Appendix – Upbound 81 Reconciliation of Net Earnings Excluding Special Items and Non-GAAP Diluted Earnings Per Share Twelve Months Ended December 31, 2022 Earnings Before Diluted Earnings (In thousands) Gross Profit Operating Profit Tax Expense Net Earnings Income Tax per Share GAAP Results $ 2,079,
Slide 82: Reconciliation of Net Earnings Excluding Special Items and Non-GAAP Diluted EPS (2021)
Appendix – Upbound 82 Reconciliation of Net Earnings Excluding Special Items and Non-GAAP Diluted Earnings Per Share Twelve Months Ended December 31, 2021 Earnings Before Diluted Earnings (In thousands) Gross Profit Operating Profit Tax Expense Net Earnings Income Tax per Share GAAP Results $ 2,235,
Slide 83: Reconciliation of Net Earnings Excluding Special Items and Non-GAAP Diluted EPS (2020)
Appendix – Upbound 83 Reconciliation of Net Earnings Excluding Special Items and Non-GAAP Diluted Earnings Per Share Twelve Months Ended December 31, 2020 Earnings Before Diluted Earnings (In thousands) Gross Profit Operating Profit Tax Expense Net Earnings Income Tax per Share GAAP Results $ 1,672,
Slide 84: Reconciliation of Net Earnings Excluding Special Items and Non-GAAP Diluted EPS (2019)
Appendix – Upbound 84 Reconciliation of Net Earnings Excluding Special Items and Non-GAAP Diluted Earnings Per Share Twelve Months Ended December 31, 2019 Earnings Before Diluted Earnings (In thousands) Gross Profit Operating Profit Tax Expense Net Earnings Income Tax per Share GAAP Results $ 1,644,
Slide 85: Reconciliation of Operating Profit to Adjusted EBITDA (2022)
Appendix – Upbound 85 Reconciliation of Operating Profit to Adjusted EBITDA (Consolidated and by Segment) Twelve Months Ended December 31, 2022 Rent-A-Center (in thousands) Acima Mexico Franchising Corporate Consolidated Business GAAP Operating Profit (Loss) $ 334,525 $ 151,301 $ 6,267 $ 19,124 $ (3
Slide 86: Reconciliation of Operating Profit to Adjusted EBITDA (2021)
Appendix – Upbound 86 Reconciliation of Operating Profit to Adjusted EBITDA (Consolidated and by Segment) Twelve Months Ended December 31, 2021 Rent-A-Center (in thousands) Acima Mexico Franchising Corporate Consolidated Business GAAP Operating Profit (Loss) $ 448,905 $ 176,496 $ 7,858 $ 20,321 $ (3
Slide 87: Reconciliation of Operating Profit to Adjusted EBITDA (2020)
Appendix – Upbound 87 Reconciliation of Operating Profit to Adjusted EBITDA (Consolidated and by Segment) Twelve Months Ended December 31, 2020 Rent-A-Center (in thousands) Acima Mexico Franchising Corporate Consolidated Business GAAP Operating Profit (Loss) $ 333,379 $ 57,847 $ 5,798 $ 12,570 $ (17
Slide 88: Reconciliation of Operating Profit to Adjusted EBITDA (2019)
Appendix – Upbound 88 Reconciliation of Operating Profit to Adjusted EBITDA (Consolidated and by Segment) Twelve Months Ended December 31, 2019 Rent-A-Center (in thousands) Acima Mexico Franchising Corporate Consolidated Business GAAP Operating Profit (Loss) $ 235,964 $ 83,066 $ 5,357 $ 7,205 $ (77,
Slide 89: Reconciliation of Net Cash Provided by Operating Activities to Free Cash Flow
Appendix – Upbound 89 Reconciliation of Net Cash Provided by Operating Activities to Free Cash Flow Twelve Months Ended December 31, (in thousands) 2022 2021 2020 2019 2018 Net cash provided by operating activities $ 468,460 $ 392,298 $ 236,502 $ 215,416 $ 227,505 Purchase of property assets (61,387