Aarons 2015 Annual Report Download - page 73
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The following is a summary of the Company’s property, plant, and equipment at December 31:
Land $ 24,300
$ 24,861
Buildings and Improvements 76,982
83,053
Leasehold Improvements and Signs 98,435
107,380
Fixtures and Equipment1223,382
196,965
Assets Under Capital Leases:
with Related Parties 10,573
10,573
with Unrelated Parties 11,063
10,564
Construction in Progress 3,853
2,086
448,588
435,482
Less: Accumulated Depreciation and Amortization (222,752)
(216,065)
$ 225,836
$ 219,417
1 Includes internal-use software development costs of $60.7 million and $50.3 million as of December 31, 2015 and 2014, respectively. Accumulated
amortization of internal-use software development costs amounted to $22.2 million and $14.8 million as of December 31, 2015 and 2014, respectively.
Amortization expense on assets recorded under capital leases is included in operating expenses and was $1.7 million, $1.7 million and $1.7 million in 2015,
2014 and 2013, respectively. Capital leases consist of buildings and improvements. Assets under capital leases with related parties included $8.0 million and
$6.9 million in accumulated depreciation and amortization as of December 31, 2015 and 2014, respectively. Assets under capital leases with unrelated parties
included $6.3 million and $5.7 million in accumulated depreciation and amortization as of December 31, 2015 and 2014, respectively.
The following is a summary of the Company’s loans receivable, net at December 31:
Credit Card Loans
$ 13,900
Acquired Loans
74,866
Loans Receivable, Gross
88,766
Allowance for Loan Losses
(937)
Unamortized Fees
(2,034)
Loans Receivable, Net
$ 85,795
Included in the table below is an aging of the loans receivable, gross balance at December 31, 2015:
30-59 days past due
7.9%
60-89 days past due
3.3%
90 or more days past due
4.1%
Past due loans receivable
15.3%
Current loans receivable
84.7%
Balance of loans receivable 90 or more days past due and still accruing interest and fees
$ —
1 This aging is based on the contractual amounts outstanding for each loan as of period end, and does not reflect the fair value adjustments for the Acquired
Loans.
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