XML 16 R7.htm IDEA: XBRL DOCUMENT v3.23.2
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Operating activities:    
Net income $ 44,931 $ 236,188
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 21,572 23,475
Other non-cash interest expense, net 8,660 8,149
Stock-based compensation expense 7,925 9,040
Deferred income taxes 2,785 3,699
Changes in recoveries 12,987 (192,373)
Other, net 985 9,267
Changes in operating assets and liabilities    
Other assets (35,730) 39,037
Accounts payable, accrued liabilities and other liabilities (1,492) (37,952)
Net cash provided by operating activities 62,623 98,530
Investing activities:    
Purchases of receivable portfolios, net of put-backs (544,721) (337,932)
Collections applied to investment in receivable portfolios 342,020 406,738
Purchases of asset held for sale (24,645) (35,178)
Purchases of property and equipment (9,503) (11,937)
Other, net 22,603 13,416
Net cash (used in) provided by investing activities (214,246) 35,107
Financing activities:    
Payment of loan and debt refinancing costs (8,151) (1,659)
Proceeds from credit facilities 444,805 446,853
Repayment of credit facilities (259,843) (298,743)
Repayment of senior secured notes (19,540) (19,540)
Proceeds from issuance of convertible senior notes 230,000 0
Repayment of convertible and exchangeable senior notes (192,457) (221,153)
Proceeds from convertible hedge instruments, net 10,050 0
Repurchase and retirement of common stock 0 (50,835)
Other, net (14,238) (10,523)
Net cash provided by (used in) financing activities 190,626 (155,600)
Net increase (decrease) in cash and cash equivalents 39,003 (21,963)
Effect of exchange rate changes on cash and cash equivalents 1,956 (13,387)
Cash and cash equivalents, beginning of period 143,912 189,645
Cash and cash equivalents, end of period 184,871 154,295
Supplemental disclosure of cash information:    
Cash paid for interest 79,167 64,366
Cash paid for taxes, net of refunds $ 36,822 $ 44,671