SEC Filing Summary: Rent-A-Center, Inc. (8-K)
Business Context and Reporting Period
This Form 8-K was filed by Rent-A-Center, Inc. on July 22, 2013. The filing serves to report the company's results of operations and financial condition for the quarter ended June 30, 2013. The detailed financial data is contained in a press release attached as Exhibit 99.1.
Key Financial Metrics
The filing text itself does not provide specific numerical values for revenue, profit, cash flow, margins, debt, or liquidity. It references a press release (Exhibit 99.1) that contains:
- Earnings information for the quarter ended June 30, 2013.
- EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization), defined as a non-GAAP financial measure.
- A reconciliation of EBITDA to reported earnings before income taxes.
Note: Specific financial figures are not present in the provided text; they are located in the referenced exhibit.
Material Changes and Comparisons
The filing text does not explicitly state material changes versus the prior comparable period. It directs investors to the attached press release for the specific earnings results and comparisons.
Management Commentary, Risks, and Unusual Items
Non-GAAP Measures: Management highlights the use of EBITDA as a supplemental measure. They state it is useful for investors because it impacts financial covenants under:
- Senior credit facilities.
- Indentures governing 6.625% senior unsecured notes due November 2020.
- Indentures governing 4.75% senior unsecured notes due May 2021.
Legal Status of Information: Pursuant to General Instruction B.2 of Form 8-K, all information in this filing and the accompanying exhibit is deemed "furnished" and not "filed" for purposes of Section 18 of the Securities Exchange Act of 1934. Consequently, this information shall not be incorporated by reference in any filing under the Securities Act of 1933.
Investor Verification Checklist
- Review Exhibit 99.1 (Press Release dated July 22, 2013) for specific revenue, net income, and EBITDA figures.
- Verify the reconciliation of EBITDA to GAAP earnings before income taxes provided in the press release.
- Confirm the status of financial covenants related to the 6.625% notes (due 2020) and 4.75% notes (due 2021) based on the reported EBITDA.
- Note that this 8-K filing is "furnished" and not "filed," affecting its incorporation by reference in future securities offerings.