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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2021
Mar. 31, 2020
Operating activities:    
Net income (loss) $ 94,765 $ (10,579)
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 11,512 10,285
Other non-cash interest expense, net 4,749 5,909
Stock-based compensation expense 3,405 4,527
Deferred income taxes (3,302) (12,030)
Changes in expected current and future recoveries (44,537) 98,661
Other, net 4,931 2,161
Changes in operating assets and liabilities    
Other assets (3,816) 3,377
Prepaid income tax and income taxes payable 28,627 14,970
Accounts payable, accrued liabilities and other liabilities (27,215) (46,476)
Net cash provided by operating activities 69,119 70,805
Investing activities:    
Purchases of receivable portfolios, net of put-backs (167,025) (209,045)
Collections applied to investment in receivable portfolios, net 268,443 169,914
Other, net (6,151) (4,124)
Net cash provided by (used in) investing activities 95,267 (43,255)
Financing activities:    
Proceeds from credit facilities 273,293 171,880
Repayment of credit facilities (235,399) (167,221)
Repayment of senior secured notes (9,770) (16,250)
Repayment of convertible senior notes (161,000) 0
Repurchase of common stock (20,390) 0
Other, net (6,844) (10,171)
Net cash used in financing activities (160,110) (21,762)
Net increase in cash and cash equivalents 4,276 5,788
Effect of exchange rate changes on cash and cash equivalents (8,862) (9,924)
Cash and cash equivalents, beginning of period 189,184 192,335
Cash and cash equivalents, end of period 184,598 188,199
Supplemental disclosure of cash information:    
Cash paid for interest 37,258 60,495
Cash paid for taxes, net of refunds $ 813 $ 766