v3.26.3
ACQUISITION (Tables)
 9 Months Ended
Sep. 30, 2026
Business Combination, Asset Acquisition, Transaction between Entities under Common Control, and Joint Venture Formation [Abstract]  
Schedule of Consideration Transferred The consideration was paid entirely in cash and consisted of the following components:
(in thousands)
Amount
Cash paid to Seller
$216,220 
Indebtedness of the Seller settled in cash by the Company at closing1
199,283 
Transaction-related costs of the Seller paid by the Company at closing
6,724 
Amounts placed in escrow for general representations and warranties
2,000 
Total consideration transferred1
$424,227 
1 Total consideration transferred comprises a $420 million negotiated purchase price plus $4.2 million of asset-backed indebtedness of the Seller that was repaid by the Company at closing.
Schedule of Purchase Consideration to Estimated FV of Assets Acquired and Liabilities Assumed
The following table summarizes the preliminary allocation of the purchase consideration to the estimated fair values of the assets acquired and liabilities assumed as of January 2, 2026:
(in thousands)
Amounts recognized as of acquisition date (January 2, 2026)
Aggregate purchase price
$424,227 
Estimated fair value of identifiable assets acquired and liabilities assumed
Cash and cash equivalents
15,125 
Restricted cash
17,257 
Accounts receivable1
355,993 
Other receivables1
35,143 
Property, plant and equipment
1,692 
Other intangible assets
319,000 
Other assets
15,153 
Total identifiable assets acquired
759,363 
Accounts payable and accrued expenses
(85,213)
Non-recourse funding debt
(338,608)
Deferred income tax liability
(18,988)
Other liabilities
(2,980)
Total liabilities assumed
(445,789)
Goodwill2
110,653 
Net assets acquired
$424,227 
1 The gross contractual unpaid principal balance of acquired installment accounts receivable and other receivables, with fair values of $324.0 million and $35.1 million, respectively, was $426.3 million, and the Company expects to collect $370.7 million. Accounts receivable also includes $32.0 million of client receivables, which the Company expects will be fully paid.
2 The excess of the purchase consideration over the estimated fair value of the net identifiable assets acquired has been recorded as goodwill.
Schedule of Intangible Asset, Acquisition
The intangible assets attributable to the acquisition are comprised of the following:
Fair value
(in thousands)
Weighted average life
(in years)
Client relationships
$258,000 10.0
Broker relationships
24,000 10.0
Trade name
29,000 20.0
Developed technology
8,000 5.0
Total acquired intangible assets1
$319,000 
1 Acquired definite-lived intangible assets have a total weighted average life of 10.8 years.
Schedule of Unaudited Pro Forma Information on Acquisition
The following unaudited pro forma information presents the combined results of operations of the Company as if the acquisition of Purchasing Power had occurred on January 1, 2025:
Three months ended September 30,Nine months ended September 30,
(in thousands)
2026202520262025
Total revenues from continuing operations
$725,779 $699,244 $2,188,168 $2,179,344 
Net earnings from continuing operations
$36,915 $28,715 $111,922 $90,355