v3.26.1
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Cash flows from operating activities:    
Net income/(loss) $ (1,623,667) $ 142,063
Adjustments to reconcile net income/(loss) to net cash provided by/(used in) operating activities:    
(Income)/loss on marketable securities (1,379) (7,019)
Other (income)/loss (622) (247)
Share-based and deferred compensation (2,995) 10,064
Deferred tax (benefit)/expense 2,734 10,457
Other 41,115 1,332
Changes in operating assets and liabilities:    
Proceeds from capital provision assets 294,381 447,812
Deployments to capital provision assets (250,023) (316,780)
Net proceeds from/(funding of) marketable securities 41,891 1,820
Proceeds from/(payments of) other income 2,781 1,331
(Increase)/decrease in other assets (6,397) (10,570)
Increase/(decrease) in other liabilities (214,267) 69,979
Net increase/(decrease) on financial liability to third-party investment (765,491) 76,377
Net cash provided by/(used in) operating activities (84,653) 70,939
Cash flows from investing activities:    
Acquisitions of equity method and other investments (2,962) 0
Purchases of property and equipment (96) (127)
Net cash provided by/(used in) investing activities (3,058) (127)
Cash flows from financing activities:    
Debt issuance, including original issue premium 500,000 0
Debt issuance costs (9,278) 0
Debt extinguishment (218,205) (6,682)
Dividends paid on ordinary shares (13,747) (13,667)
Acquisition of ordinary shares held in treasury (3,653) (15,310)
Third-party net capital contribution/(distribution) (36,640) (134,869)
Net cash provided by/(used in) financing activities 218,477 (170,528)
Net increase/(decrease) in cash and cash equivalents 130,766 (99,716)
Cash and cash equivalents at beginning of period 566,437 469,930
Effect of exchange rate changes on cash and cash equivalents (304) 2,034
Cash and cash equivalents at end of period 696,899 372,248
Supplemental disclosure    
Cash received from interest and dividend income 12,437 8,852
Cash paid for debt interest (77,059) (32,074)
Cash received from income tax refund 395 13
Cash paid for income taxes (7,280) (21,182)
Capital provision income/(loss)    
Adjustments to reconcile net income/(loss) to net cash provided by/(used in) operating activities:    
Capital provision (income)/loss $ 2,397,286 $ (355,680)