XML 18 R6.htm IDEA: XBRL DOCUMENT v3.10.0.1
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2018
Jun. 30, 2017
Operating activities:    
Net income $ 50,687 $ 34,055
Adjustments to reconcile net income to net cash provided by operating activities:    
Loss from discontinued operations, net of income taxes 0 199
Depreciation and amortization 21,359 17,297
Other non-cash expense, net 14,797 21,309
Stock-based compensation expense 5,445 3,510
Loss (gain) on derivative instruments, net 8,656 (2,623)
Deferred income taxes 8,256 (3,164)
Allowance reversals on receivable portfolios, net 27,443 10,961
Changes in operating assets and liabilities    
Deferred court costs and other assets (13,366) (5,951)
Prepaid income tax and income taxes payable 22,550 20,389
Accounts payable, accrued liabilities and other liabilities 6,686 (2,770)
Net cash provided by operating activities 97,627 71,290
Investing activities:    
Cash paid for acquisitions, net of cash acquired 0 (5,623)
Purchases of receivable portfolios, net of put-backs (633,040) (464,507)
Collections applied to investment in receivable portfolios, net 415,174 371,285
Purchases of property and equipment (24,655) (11,984)
Payments to acquire interest in affiliates 0 (8,805)
Other, net 1,634 4,559
Net cash used in investing activities (240,887) (115,075)
Financing activities:    
Payment of loan costs (1,387) (3,415)
Proceeds from credit facilities 425,650 331,020
Repayment of credit facilities (292,430) (373,345)
Repayment of senior secured notes (1,029) (6,174)
Proceeds from issuance of convertible senior notes 0 150,000
Repayment of convertible senior notes 0 (60,406)
Proceeds from convertible hedge instruments 0 5,580
Taxes paid related to net share settlement of equity awards (2,651) (2,457)
Other, net (7,118) (4,954)
Net cash provided by financing activities 121,035 35,849
Net decrease in cash and cash equivalents (22,225) (7,936)
Effect of exchange rate changes on cash and cash equivalents (8,257) 4,818
Cash and cash equivalents, beginning of period 212,139 149,765
Cash and cash equivalents, end of period $ 181,657 $ 146,647