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Consolidated Statements of Cash Flows
$ in Thousands
12 Months Ended
Dec. 31, 2018
USD ($)
Dec. 31, 2017
USD ($)
Dec. 31, 2016
USD ($)
Operating activities:      
Net income $ 109,736 $ 78,978 $ 16,817
Adjustments to reconcile net income to net cash provided by operating activities:      
Loss from discontinued operations, net of income taxes 0 199 2,353
Interest expense related to financing 11,710 0 0
Depreciation and amortization 41,228 39,977 34,868
Other non-cash expense, net 20,744 39,591 30,623
Stock-based compensation expense 12,980 10,399 12,627
Loss (gain) on derivative instruments, net 10,789 (3,915) (7,816)
Deferred income taxes 16,814 28,970 (52,905)
(Reversal of) provision for allowances on receivable portfolios, net (41,473) (41,236) 84,177
Changes in operating assets and liabilities      
Deferred court costs and other assets (35,626) (4,101) (20,364)
Prepaid income tax and income taxes payable 24,284 (26,699) 25,417
Accounts payable, accrued liabilities and other liabilities 15,605 1,655 2,439
Net cash provided by operating activities from continuing operations 186,791 123,818 128,236
Net cash provided by operating activities from discontinued operations 0 0 2,096
Net cash provided by operating activities 186,791 123,818 130,332
Investing activities:      
Cash paid for acquisitions, net of cash acquired 0 (96,390) (675)
Proceeds from divestiture of business, net of cash divested (1,877) 0 106,041
Purchases of assets held for sale 0 0 (19,874)
Purchases of receivable portfolios, net of put-backs (1,131,095) (1,045,829) (907,413)
Collections applied to investment in receivable portfolios, net 809,688 709,420 659,321
Purchases of property and equipment (67,475) (28,126) (31,668)
(Payment of) proceeds from derivative instruments, net (18,302) 3,533 8,800
Other, net 11,545 5,261 1,994
Net cash used in investing activities from continuing operations (397,516) (452,131) (183,474)
Net cash provided by investing activities from discontinued operations 0 0 14,685
Net cash used in investing activities (397,516) (452,131) (168,789)
Financing activities:      
Payment of loan costs (11,576) (28,972) (32,338)
Payment related to debt financing (11,710) 0 0
Repayment of credit facilities 942,186 1,434,480 586,016
Repayment of credit facilities (571,144) (1,168,069) (615,857)
Proceeds from senior secured notes 0 325,000 442,610
Repayment of senior secured notes (91,578) (204,241) (352,549)
Proceeds from issuance of convertible and exchangeable senior notes 172,500 150,000 0
Repayment of convertible senior notes 0 (125,407) 0
Proceeds from other debt 27,694 33,197 36,172
Repayment of other debt (42,456) (8,910) (15,388)
Payment for the purchase of PECs and noncontrolling interest (234,101) (29,731) (4,842)
Payment of direct and incremental costs relating to Cabot Transaction (8,622) 0 0
Other, net (4,816) 870 (571)
Net cash provided by financing activities 166,377 378,217 43,253
Net increase in cash and cash equivalents (44,348) 49,904 4,796
Effect of exchange rate changes on cash and cash equivalents (10,373) 12,470 (8,624)
Cash and cash equivalents, beginning of period 212,139 149,765 153,593
Cash and cash equivalents, end of period 157,418 212,139 149,765
Cash and cash equivalents of discontinued operations, end of period 0 0 0
Cash and cash equivalents of continuing operations, end of period 157,418 212,139 149,765
Supplemental disclosures of cash flow information:      
Cash paid for interest 198,797 162,545 147,899
Cash paid for income taxes, net 30,247 44,365 60,071
Supplemental schedule of non-cash investing and financing activities:      
Stock consideration for the Cabot Transaction 180,559 0 0
Conversion of convertible senior notes 0 28,277 0
Fixed assets acquired through capital lease $ 3,283 $ 3,577 $ 55