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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Operating activities    
Net income $ 44,755 $ 44,027
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation, amortization and accretion, net 1,916 844
Provision for losses on loans, interest and fees receivable 147 4,135
Interest expense from accretion of discount on notes 0 132
Income from accretion of merchant fees and discount associated with receivables purchases (27,189) (34,213)
Changes in fair value of loans, interest and fees receivable and notes payable associated with structured financings recorded at fair value 104,680 27,491
Amortization of deferred loan costs 1,136 888
Income from equity-method investments 0 (19)
Loss on repurchase and redemption of convertible senior notes 0 7,807
Deferred stock-based compensation costs 1,111 545
Lease liability payments (2,635) (2,584)
Changes in assets and liabilities:    
Increase in uncollected fees on earning assets (45,363) (9,517)
(Decrease) increase in income tax liability (7,177) 7,634
Increase in accounts payable and accrued expenses 9,499 658
Other (131) 4,952
Net cash provided by operating activities 80,749 52,780
Investing activities    
Proceeds from equity-method investee 0 190
Proceeds from recoveries on charged off receivables 5,460 1,892
Investments in earning assets (563,313) (356,011)
Proceeds from earning assets 455,298 351,839
Purchases and development of property, net of disposals (76) (73)
Net cash used in investing activities (102,631) (2,163)
Financing activities    
Noncontrolling interests contributions 4 0
Preferred dividends (6,016) (4,701)
Proceeds from exercise of stock options 2,788 1,696
Purchase and retirement of outstanding stock (65,214) (297)
Proceeds from borrowings 41,247 53,314
Repayment of borrowings (52,068) (116,069)
Net cash used in financing activities (79,259) (66,057)
Effect of exchange rate changes on cash (10) 6
Net decrease in cash and cash equivalents and restricted cash (101,151) (15,434)
Cash and cash equivalents and restricted cash at beginning of period 506,628 258,961
Cash and cash equivalents and restricted cash at end of period 405,477 243,527
Supplemental cash flow information    
Cash paid for interest 16,199 12,265
Net cash income tax payments 56 136
Increase (decrease) in accrued and unpaid preferred dividends $ 115 $ (89)