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Condensed Consolidated Statements of Comprehensive Income (Unaudited) (USD $)
In Thousands, except Per Share data, unless otherwise specified
3 Months Ended 9 Months Ended
Sep. 30, 2012
Sep. 30, 2011
Sep. 30, 2012
Sep. 30, 2011
Revenue        
Revenue from receivable portfolios, net $ 140,682 $ 115,843 $ 405,818 $ 332,262
Tax lien transfer        
Interest income 5,585   8,567  
Interest expense (1,475)   (2,125)  
Net interest income 4,110   6,442  
Total revenues 144,792 115,843 412,260 332,262
Operating expenses        
Salaries and employee benefits 25,397 20,087 72,891 57,458
Cost of legal collections 43,544 40,169 123,203 117,364
Other operating expenses 14,829 9,904 38,854 26,944
Collection agency commissions 4,227 3,264 12,352 10,774
General and administrative expenses 14,091 10,704 46,331 29,471
Depreciation and amortization 1,533 1,054 4,193 2,916
Total operating expenses 103,621 85,182 297,824 244,927
Income from operations 41,171 30,661 114,436 87,335
Other (expense) income        
Interest expense (7,012) (5,175) (19,024) (16,137)
Other income (expense) 1,036 (342) 1,385 (182)
Total other expense (5,976) (5,517) (17,639) (16,319)
Income from continuing operations before income taxes 35,195 25,144 96,797 71,016
Provision for income taxes (13,887) (9,834) (38,393) (27,658)
Income from continuing operations 21,308 15,310 58,404 43,358
Income (loss) from discontinued operations, net of tax    60 (9,094) 466
Net income 21,308 15,370 49,310 43,824
Weighted average shares outstanding:        
Basic 25,071 24,638 24,930 24,493
Diluted 26,047 25,604 25,920 25,636
Basic earnings (loss) per share from:        
Continuing operations $ 0.85 $ 0.62 $ 2.34 $ 1.77
Discontinued operations $ 0.00 $ 0.00 $ (0.36) $ 0.02
Net basic earnings per share $ 0.85 $ 0.62 $ 1.98 $ 1.79
Diluted earnings (loss) per share from:        
Continuing operations $ 0.82 $ 0.60 $ 2.25 $ 1.69
Discontinued operations $ 0.00 $ 0.00 $ (0.36) $ 0.02
Net diluted earnings per share $ 0.82 $ 0.60 $ 1.90 $ 1.71
Other comprehensive gain (loss):        
Unrealized gain (loss) on derivative instruments 3,027 (2,042) 1,205 (2,094)
Income tax(provison) benefit related to unrealized gain (loss)on derivative instruments (1,186) 796 (472) 819
Other comprehensive gain (loss), net of tax 1,841 (1,246) 733 (1,275)
Comprehensive income $ 23,149 $ 14,124 $ 50,043 $ 42,549