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Condensed Consolidated Statements of Income - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Jun. 30, 2023
Jun. 30, 2022
Revenues        
Revenue from receivable portfolios $ 301,184 $ 306,282 $ 596,858 $ 610,387
Changes in recoveries (3,486) 25,150 (12,987) 192,373
Total debt purchasing revenue 297,698 331,432 583,871 802,760
Servicing revenue 21,008 23,788 43,593 49,934
Other revenues 4,338 1,697 8,210 3,905
Total revenues 323,044 356,917 635,674 856,599
Operating expenses        
Salaries and employee benefits 95,855 98,880 199,705 195,836
Cost of legal collections 57,150 55,148 111,251 110,865
General and administrative expenses 34,529 34,967 72,494 68,501
Other operating expenses 26,349 27,405 53,905 54,432
Collection agency commissions 10,387 9,923 18,537 19,528
Depreciation and amortization 10,702 11,646 21,572 23,475
Total operating expenses 234,972 237,969 477,464 472,637
Income from operations 88,072 118,948 158,210 383,962
Other expense        
Interest expense (49,983) (37,054) (96,818) (71,687)
Other (expense) income, net (1,755) 1,795 (23) 2,187
Total other expense (51,738) (35,259) (96,841) (69,500)
Income before income taxes 36,334 83,689 61,369 314,462
Provision for income taxes (10,029) (23,250) (16,438) (78,274)
Net income $ 26,305 $ 60,439 $ 44,931 $ 236,188
Earnings per share:        
Basic (USD per share) $ 1.11 $ 2.48 $ 1.90 $ 9.63
Diluted (USD per share) $ 1.08 $ 2.29 $ 1.83 $ 8.77
Weighted average shares outstanding:        
Basic (shares) 23,670 24,359 23,610 24,539
Diluted (shares) 24,280 26,411 24,611 26,945