v3.26.1
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Operating activities:    
Net income $ 150,242 $ 105,517
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 13,970 14,655
Loss on extinguishment of debt 30,533 0
Other non-cash interest expense, net 5,189 7,211
Stock-based compensation expense 10,618 8,707
Changes in recoveries (133,855) (77,063)
Other, net 7,623 7,045
Changes in operating assets and liabilities    
Other assets 8,530 14,897
Accounts payable, accrued liabilities and other liabilities (39,904) (26,162)
Net cash provided by operating activities 52,946 54,807
Investing activities:    
Purchases of receivable portfolios, net of put-backs (800,301) (725,391)
Collections applied to receivable portfolios 665,017 553,400
Purchases of property and equipment (13,249) (13,320)
Other, net 17,883 15,659
Net cash used in investing activities (130,650) (169,652)
Financing activities:    
Payment of loan and debt refinancing costs (38,382) (2,491)
Proceeds from credit facilities 791,079 549,605
Repayment of credit facilities (723,790) (418,463)
Proceeds from senior secured notes 1,128,676 0
Repayment of senior secured notes (983,540) 0
Repurchase and retirement of common stock (47,029) (25,215)
Other, net (20,182) (16,206)
Net cash provided by financing activities 106,832 87,230
Net increase (decrease) in cash and cash equivalents 29,128 (27,615)
Effect of exchange rate changes on cash and cash equivalents (2,980) 646
Cash and cash equivalents, beginning of period 156,784 199,865
Cash and cash equivalents, end of period 182,932 172,896
Supplemental disclosures of cash flow information:    
Cash paid for interest 148,719 133,830
Cash paid for income taxes, net of refunds 33,786 29,278
Supplemental schedule of non-cash investing activities:    
Receivable portfolios transferred to real estate owned $ 1,868 $ 2,011