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Consolidated Statements of Income - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Sep. 30, 2022
Sep. 30, 2021
Revenues        
Revenue from receivable portfolios $ 297,219 $ 316,225 $ 907,606 $ 982,393
Changes in recoveries (13,080) 65,913 179,293 176,628
Total debt purchasing revenue 284,139 382,138 1,086,899 1,159,021
Servicing revenue 21,992 29,321 71,926 93,901
Other revenues 1,621 1,165 5,526 4,274
Total revenues 307,752 412,624 1,164,351 1,257,196
Operating expenses        
Salaries and employee benefits 89,241 94,662 285,077 288,892
Cost of legal collections 52,891 64,170 163,756 198,212
General and administrative expenses 37,274 35,819 105,775 102,790
Other operating expenses 28,286 25,226 82,718 81,895
Collection agency commissions 7,884 11,964 27,412 38,465
Depreciation and amortization 11,659 14,136 35,134 37,694
Total operating expenses 227,235 245,977 699,872 747,948
Income from operations 80,517 166,647 464,479 509,248
Other expense        
Interest expense (39,308) (40,874) (110,995) (131,559)
Loss on extinguishment of debt 0 0 0 (9,300)
Other income (expense) 1,205 (17,504) 3,392 (16,993)
Total other expense (38,103) (58,378) (107,603) (157,852)
Income before income taxes 42,414 108,269 356,876 351,396
Provision for income taxes (10,920) (24,703) (89,194) (76,278)
Net income 31,494 83,566 267,682 275,118
Net income attributable to noncontrolling interest 0 0 0 (419)
Net income attributable to Encore Capital Group, Inc. stockholders $ 31,494 $ 83,566 $ 267,682 $ 274,699
Earnings per share attributable to Encore Capital Group, Inc.:        
Basic (USD per share) $ 1.31 $ 2.76 $ 11.00 $ 8.90
Diluted (USD per share) $ 1.22 $ 2.66 $ 10.06 $ 8.71
Weighted average shares outstanding:        
Basic (shares) 23,958 30,225 24,344 30,863
Diluted (shares) 25,919 31,362 26,601 31,531