| Dec'19 | Dec'18 | Dec'17 | Dec'16 | |||
|---|---|---|---|---|---|---|
Cash flows from operating activities | ||||||
Net income from continuing operations | ||||||
103,898 | 16,459 | 60,609 | 65,444 | |||
Adjustments to reconcile net income to net cash provided by continuing operating activities: | ||||||
Depreciation and amortization | ||||||
18,630 | 18,337 | 18,185 | 18,905 | |||
Provision for losses | ||||||
468,551 | 421,600 | 312,566 | 258,289 | |||
Amortization of debt issuance costs and bond discount | ||||||
2,971 | 3,658 | 4,554 | - | |||
Goodwill impairment charges | ||||||
- | - | - | 0 | |||
Asset Impairment Charges, Excluding Goodwill | ||||||
- | - | - | 0 | |||
Restructuring costs | ||||||
- | - | - | 523 | |||
Amortization of debt issuance costs | ||||||
- | - | - | 3,289 | |||
Amortization of bond (premium)/discount | ||||||
- | - | - | -1,541 | |||
Deferred income tax (benefit) expense | ||||||
-6,396 | 2,126 | 9,036 | -680 | |||
Loss on disposal of property and equipment | ||||||
-85 | -889 | -2,278 | -217 | |||
Gain (Loss) on Extinguishment of Debt | ||||||
0 | -90,569 | -12,458 | 6,991 | |||
Loss from equity method investment | ||||||
-6,295 | 0 | 0 | - | |||
Increase in cash surrender value of life insurance | ||||||
- | - | - | 918 | |||
Share-based compensation | ||||||
10,323 | 8,210 | 965 | 1,148 | |||
Realized loss on cash flow hedge | ||||||
0 | -556 | -333 | 0 | |||
Changes in operating assets and liabilities: | ||||||
Accrued interest on loans receivable | ||||||
12,844 | 11,096 | 16,770 | 6,180 | |||
Prepaid expenses and other assets | ||||||
-10,771 | 2,578 | 4,574 | 5,733 | |||
Accounts payable and accrued liabilities | ||||||
9,798 | -5,085 | 6,232 | 2,010 | |||
Deferred revenue | ||||||
527 | -1,630 | -682 | -2,080 | |||
Income taxes payable | ||||||
34,102 | 1,636 | 529 | 6,852 | |||
Income taxes receivable | ||||||
-9,798 | 13,287 | -2,557 | 7,154 | |||
Other assets and liabilities | ||||||
5,374 | 6,708 | -16,962 | -3,959 | |||
Net cash provided by continuing operating activities | ||||||
651,135 | 523,656 | 425,238 | - | |||
Net cash provided by (used in) discontinued operating activities | ||||||
-504 | 10,808 | 9,666 | - | |||
Net cash provided by operating activities | ||||||
650,631 | 534,464 | 434,904 | 329,359 | |||
Cash flows from investing activities | ||||||
Purchase of property, equipment and software | ||||||
13,981 | 14,033 | 8,717 | 16,026 | |||
Loans receivable originated or acquired | ||||||
1,835,301 | 2,136,164 | 2,063,213 | 1,985,465 | |||
Loans receivable repaid | ||||||
1,327,190 | 1,558,201 | 1,660,440 | 1,703,818 | |||
Investments in Katapult | ||||||
8,168 | 958 | 5,600 | 0 | |||
Net cash used in continuing investing activities | ||||||
-530,260 | -592,954 | -417,090 | - | |||
Net cash used in discontinued investing activities | ||||||
-14,213 | -27,891 | -15,761 | - | |||
Net cash used in investing activities | ||||||
-544,473 | -620,845 | -432,851 | -297,673 | |||
Cash flows from financing activities | ||||||
Payments on 12.00% Senior Cash Pay Notes | ||||||
0 | 0 | 125,000 | 0 | |||
Proceeds from credit facilities | ||||||
- | - | - | 30,000 | |||
Payments on credit facilities | ||||||
- | - | - | 38,050 | |||
Payments on subordinated stockholder debt | ||||||
2,256 | 0 | 0 | - | |||
Debt issuance costs paid | ||||||
200 | 18,609 | 18,701 | 5,346 | |||
Proceeds from exercise of stock options | ||||||
149 | 559 | 0 | 0 | |||
Payments of call premiums from early debt extinguishments | ||||||
0 | 69,650 | 0 | 0 | |||
Net proceeds from issuance of common stock | ||||||
0 | 11,167 | 81,117 | 0 | |||
Payments to net share settle restricted stock units vesting | ||||||
2,400 | 1,942 | 0 | 0 | |||
Repurchase of common stock | ||||||
71,942 | 0 | 0 | - | |||
Dividends paid to stockholders | ||||||
0 | 0 | 182,000 | 0 | |||
Net cash (used in) provided by financing activities | ||||||
-97,968 | 19,092 | -36,691 | 59,382 | |||
Effect of exchange rate changes on cash and restricted cash | ||||||
1,974 | -7,345 | 7,776 | -2,039 | |||
Net increase in cash and restricted cash | ||||||
10,164 | -74,634 | -26,862 | 89,029 | |||
10.75% Senior Secured Notes | ||||||
Payments on Senior Secured Notes | ||||||
0 | 0 | 426,034 | 18,939 | |||
12.00% Senior Secured Notes | ||||||
Payments on Senior Secured Notes | ||||||
0 | 605,000 | 0 | 0 | |||
Proceeds from issuance of Senior Secured Notes | ||||||
0 | 0 | 601,054 | 0 | |||
8.25% Senior Notes Due 2025 | ||||||
Proceeds from issuance of Senior Secured Notes | ||||||
0 | 690,000 | 0 | 0 | |||
Revolving Credit Facility | ||||||
Proceeds from credit facilities | ||||||
- | - | - | 91,717 | |||