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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Operating activities:    
Net income $ 191,552 $ 120,205
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 23,558 20,827
Loss on extinguishment of debt 9,300 0
Other non-cash interest expense, net 9,403 12,127
Stock-based compensation expense 9,056 9,305
Deferred income taxes (5,097) (17,101)
Changes in expected current and future recoveries (110,715) 32,654
Other, net 12,006 4,923
Changes in operating assets and liabilities    
Other assets 11,474 11,917
Prepaid income tax and income taxes payable 31,374 41,748
Accounts payable, accrued liabilities and other liabilities (32,946) (26,890)
Net cash provided by operating activities 148,965 209,715
Investing activities:    
Purchases of receivable portfolios, net of put-backs (306,549) (350,658)
Collections applied to investment in receivable portfolios, net 552,720 342,842
Payments to Acquire Property, Plant, and Equipment (10,351) (13,028)
Other, net 4,877 9,831
Net cash provided by (used in) investing activities 240,697 (11,013)
Financing activities:    
Payments of Financing Costs (10,617) 0
Proceeds from credit facilities 358,063 279,070
Repayment of credit facilities (511,200) (315,622)
Proceeds from senior secured notes 353,747 0
Repayment of senior secured notes (339,585) (32,500)
Repayments of Other Debt 0 (14,882)
Repayment of convertible senior notes (161,000) 0
Repurchase of common stock (47,421) 0
Other, net (11,634) (3,634)
Net cash used in financing activities (369,647) (87,568)
Net increase in cash and cash equivalents 20,015 111,134
Effect of exchange rate changes on cash and cash equivalents (10,683) (9,669)
Cash and cash equivalents, beginning of period 189,184 192,335
Cash and cash equivalents, end of period 198,516 293,800
Supplemental disclosure of cash information:    
Cash paid for interest 69,152 88,363
Cash paid for taxes, net of refunds $ 24,273 $ 16,292