XML 16 R6.htm IDEA: XBRL DOCUMENT v3.10.0.1
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 9 Months Ended
Sep. 30, 2018
Sep. 30, 2017
Cash flows from operating activities:    
Net income $ 9,510 $ 13,716
Adjustments to reconcile net income to net cash provided by operating activities:    
Accretion of deferred acquisition fees and origination costs 2,119 619
Net interest income accretion on fair value receivables 13,010 0
Depreciation and amortization 746 692
Amortization of deferred financing costs 6,430 6,559
Provision for credit losses 107,997 143,053
Stock-based compensation expense 2,816 4,266
Changes in assets and liabilities:    
Accrued interest receivable 10,521 (5,915)
Deferred tax assets, net 3,760 (4,807)
Other assets (2,892) 5,784
Accounts payable and accrued expenses 4,609 4,285
Net cash provided by operating activities 158,626 168,252
Cash flows from investing activities:    
Purchases of finance receivables held for investment 0 (668,284)
Payments received on finance receivables held for investment 470,312 487,869
Purchases of finance receivables measured at fair value (659,641) 0
Payments received on finance receivables at fair value 31,824 4
Change in repossessions held in inventory 624 1,961
Purchase of furniture and equipment (795) (585)
Net cash used in investing activities (157,676) (179,035)
Cash flows from financing activities:    
Proceeds from issuance of securitization trust debt 622,098 656,315
Proceeds from issuance of subordinated renewable notes 2,226 2,793
Payments on subordinated renewable notes (1,844) (1,513)
Net advances of warehouse lines of credit 15,005 2,951
Net advances of residual interest financing debt 40,000 0
Repayment of securitization trust debt (671,700) (634,171)
Payment of financing costs (6,467) (5,713)
Purchase of common stock (4,437) (10,536)
Exercise of options and warrants 483 1,031
Net cash provided by (used in) financing activities (4,636) 11,157
Increase (decrease) in cash and cash equivalents (3,686) 374
Cash and restricted cash at beginning of period 124,696 126,690
Cash and restricted cash at end of period 121,010 127,064
Cash paid during the period for:    
Interest 68,042 61,756
Income taxes $ 7,256 $ 6,157