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Consolidated Statements of Income - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Jun. 30, 2022
Jun. 30, 2021
Revenues        
Revenue from receivable portfolios $ 306,282 $ 328,150 $ 610,387 $ 666,168
Changes in recoveries 25,150 66,178 192,373 110,715
Total debt purchasing revenue 331,432 394,328 802,760 776,883
Servicing revenue 23,788 32,064 49,934 64,580
Other revenues 1,697 1,343 3,905 3,109
Total revenues 356,917 427,735 856,599 844,572
Operating expenses        
Salaries and employee benefits 98,880 97,774 195,836 194,230
Cost of legal collections 55,148 66,900 110,865 134,042
General and administrative expenses 34,967 34,823 68,501 66,971
Other operating expenses 27,405 28,228 54,432 56,669
Collection agency commissions 9,923 13,677 19,528 26,501
Depreciation and amortization 11,646 12,046 23,475 23,558
Total operating expenses 237,969 253,448 472,637 501,971
Income from operations 118,948 174,287 383,962 342,601
Other expense        
Interest expense (37,054) (44,159) (71,687) (90,685)
Loss on extinguishment of debt 0 (9,300) 0 (9,300)
Other income 1,795 566 2,187 511
Total other expense (35,259) (52,893) (69,500) (99,474)
Income before income taxes 83,689 121,394 314,462 243,127
Provision for income taxes (23,250) (24,607) (78,274) (51,575)
Net income 60,439 96,787 236,188 191,552
Net income attributable to noncontrolling interest 0 (284) 0 (419)
Net income attributable to Encore Capital Group, Inc. stockholders $ 60,439 $ 96,503 $ 236,188 $ 191,133
Earnings per share attributable to Encore Capital Group, Inc.:        
Basic (USD per share) $ 2.48 $ 3.12 $ 9.63 $ 6.13
Diluted (USD per share) $ 2.29 $ 3.07 $ 8.77 $ 6.04
Weighted average shares outstanding:        
Basic (shares) 24,359 30,909 24,539 31,187
Diluted (shares) 26,411 31,415 26,945 31,622