v3.26.3
Segment and Geographic Information
 9 Months Ended
Sep. 30, 2026
Segment Reporting [Abstract]  
Segment and Geographic Information Segment and Geographic Information
The Company has one reportable segment, the debt purchasing and recovery segment. Segment assets are presented in the Company’s condensed consolidated statements of financial condition as total assets. The following tables present the results of operations of the Company’s reportable segment for the periods presented (in thousands):
Three Months Ended September 30, 2026
Debt purchasing and recovery segment
Corporate and other unallocatedConsolidated
Total revenues
$544,541 $— $544,541 
Total operating expenses(1)
(298,836)(15,100)(313,936)
Operating income
245,705 230,605 
Other segment items(2)
2,482 2,482 
Interest expense(3)
(72,299)(72,299)
Provision for income taxes
(36,775)(36,775)
Net income
$124,013 
_______________________ 
(1)Certain corporate activities that are not allocated to the debt purchasing and recovery segment are recorded under corporate and other unallocated. During the three months ended September 30, 2026, such non-allocated operating expenses primarily consisted of salaries and employee benefits of $10.9 million for corporate employees and general and administrative expenses of $4.0 million.
(2)The other segment items category includes other income.
(3)The Company manages its available capital resources at the corporate level. Interest expense is not allocated to operating segments.

Three Months Ended September 30, 2025
Debt purchasing and recovery segment
Corporate and other unallocatedConsolidated
Total revenues
$460,353 $— $460,353 
Total operating expenses(1)
(270,035)(17,140)(287,175)
Operating income
190,318 173,178 
Other segment items(2)
929 929 
Interest expense(3)
(74,242)(74,242)
Provision for income taxes
(25,205)(25,205)
Net income
$74,660 
_______________________ 
(1)Certain corporate activities that are not allocated to the debt purchasing and recovery segment are recorded under corporate and other unallocated. During the three months ended September 30, 2025, such non-allocated operating expenses primarily consisted of salaries and employee benefits of $11.3 million for corporate employees and general and administrative expenses of $5.3 million.
(2)The other segment items category includes other income.
(3)The Company manages its available capital resources at the corporate level. Interest expense is not allocated to operating segments.

Nine Months Ended September 30, 2026
Debt purchasing and recovery segment
Corporate and other unallocatedConsolidated
Total revenues
$1,511,824 $— $1,511,824 
Total operating expenses(1)
(861,220)(49,105)(910,325)
Operating income
650,604 601,499 
Other segment items(2)
(26,876)(26,876)
Interest expense(3)
(219,256)(219,256)
Provision for income taxes
(81,112)(81,112)
Net income
$274,255 
_______________________ 
(1)Certain corporate activities that are not allocated to the debt purchasing and recovery segment are recorded under corporate and other unallocated. During the nine months ended September 30, 2026, such non-allocated operating expenses primarily consisted of salaries and employee benefits of $34.3 million for corporate employees and general and administrative expenses of $13.7 million.
(2)The other segment items category includes other income, and loss on extinguishment of debt.
(3)The Company manages its available capital resources at the corporate level. Interest expense is not allocated to operating segments.

Nine Months Ended September 30, 2025
Debt purchasing and recovery segment
Corporate and other unallocatedConsolidated
Total revenues
$1,295,250 $— $1,295,250 
Total operating expenses(1)
(793,851)(48,145)(841,996)
Operating income
501,399 453,254 
Other segment items(2)
3,802 3,802 
Interest expense(3)
(218,715)(218,715)
Provision for income taxes
(58,164)(58,164)
Net income
$180,177 
_______________________ 
(1)Certain corporate activities that are not allocated to the debt purchasing and recovery segment are recorded under corporate and other unallocated. During the nine months ended September 30, 2025, such non-allocated operating expenses primarily consisted of salaries and employee benefits of $31.6 million for corporate employees and general and administrative expenses of $15.1 million.
(2)The other segment items category includes other income.
(3)The Company manages its available capital resources at the corporate level. Interest expense is not allocated to operating segments.

The following table presents information about geographic areas in which the Company operates (in thousands):
Three Months Ended
September 30,		Nine Months Ended
September 30,
2026202520262025
Total revenues:
United States$426,208 $335,101 $1,140,367 $917,277 
Europe
United Kingdom85,565 89,799 271,335 265,276 
Other European countries(1)
31,070 33,726 95,392 107,848 
Total Europe116,635 123,525 366,727 373,124 
Other geographies(1)
1,698 1,727 4,730 4,849 
Total$544,541 $460,353 $1,511,824 $1,295,250 
________________________
(1)None of these countries comprise greater than 10% of the Company's consolidated revenues.