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Segment and Geographic Information | 9 Months Ended
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Sep. 30, 2025 segment
Segment Reporting [Abstract] |
Segment and Geographic Information | Segment and Geographic Information The Company conducts business through several operating segments. The accounting policies applied to the segments are the same as those described in the summary of significant accounting policies. The Company determined its operating segments meet the aggregation criteria, and therefore, it has one reportable segment, debt purchasing and recovery segment, based on similarities among the operating units including economic characteristics, the nature of the services, the nature of the production process, customer types for their services, the methods used to provide their services and the nature of the regulatory environment. The Company’s Chief Operating Decision Maker, which is the Company’s chief executive officer, relies on internal management reporting processes that provide segment revenues, segment total operating expenses, segment operating income, and segment asset information in order to make financial decisions. The measure of segment performance is segment operating income. The Company’s Chief Operating Decision Maker assesses the segment’s performance and makes decisions about the allocation of capital resources to each segment accordingly. Corporate and other unallocated represents corporate overhead and other items not allocated to any of the Company’s operating segments. Segment assets are presented in the Company’s Consolidated Statements of Financial Position 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, 2025
| Debt purchasing and recovery segment |  | Corporate and other unallocated |  | Consolidated
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 approximately $11.3 million for corporate employees and general and administrative expenses of approximately $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.
| Three Months Ended September 30, 2024
| Debt purchasing and recovery segment |  | Corporate and other unallocated |  | Consolidated
Total revenues | $ | 367,071 |  |  | $ | — |  |  | $ | 367,071 |
Total operating expenses(1) | (246,824) |  |  | (14,157) |  |  | (260,981) |
Operating income | 120,247 |  |  |  |  | 106,090 |
Other segment items(2) |  |  | 1,578 |  |  | 1,578 |
Interest expense(3) |  |  | (66,906) |  |  | (66,906) |
Provision for income taxes |  |  | (10,119) |  |  | (10,119) |
Net income |  |  |  |  | $ | 30,643 |
(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, 2024, such non-allocated operating expenses primarily consisted of salaries and employee benefits of approximately $9.8 million for corporate employees and general and administrative expenses of approximately $4.2 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, 2025
| Debt purchasing and recovery segment |  | Corporate and other unallocated |  | Consolidated
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 approximately $31.6 million for corporate employees and general and administrative expenses of approximately $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.
| Nine Months Ended September 30, 2024
| Debt purchasing and recovery segment |  | Corporate and other unallocated |  | Consolidated
Total revenues | $ | 1,050,742 |  |  | $ | — |  |  | $ | 1,050,742 |
Total operating expenses(1) | (716,150) |  |  | (43,072) |  |  | (759,222) |
Operating income | 334,592 |  |  |  |  | 291,520 |
Other segment items(2) |  |  | 6,291 |  |  | 6,291 |
Interest expense(3) |  |  | (184,047) |  |  | (184,047) |
Provision for income taxes |  |  | (27,701) |  |  | (27,701) |
Net income |  |  |  |  | $ | 86,063 |
_______________________ (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, 2024, such non-allocated operating expenses primarily consisted of salaries and employee benefits of approximately $28.7 million for corporate employees and general and administrative expenses of approximately $13.8 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,
| 2025 |  | 2024 |  | 2025 |  | 2024
Total revenues: |  |  |  |  |  |  |
United States | $ | 335,101 |  |  | $ | 258,300 |  |  | $ | 917,277 |  |  | $ | 717,186 |
Europe |  |  |  |  |  |  |
United Kingdom | 89,799 |  |  | 84,000 |  |  | 265,276 |  |  | 233,152 |
Other European countries(1) | 33,726 |  |  | 24,415 |  |  | 107,848 |  |  | 98,707 |
Total Europe | 123,525 |  |  | 108,415 |  |  | 373,124 |  |  | 331,859 |
Other geographies(1) | 1,727 |  |  | 356 |  |  | 4,849 |  |  | 1,697 |
Total | $ | 460,353 |  |  | $ | 367,071 |  |  | $ | 1,295,250 |  |  | $ | 1,050,742 |
________________________ (1)None of these countries comprise greater than 10% of the Company's consolidated revenues.
Number of reportable segments | 1

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- Definition The entire disclosure for reporting segments including data and tables. 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