Encore capital group, inc. (ECPG)
CashFlow / Quarterly
Mar'20Dec'19Sep'19Jun'19Mar'19Dec'18Sep'18Jun'18Mar'18Dec'17Sep'17Jun'17Mar'17Dec'16Sep'16Jun'16Mar'16Dec'15Sep'15Jun'15Mar'15Dec'14Sep'14Jun'14Mar'14Dec'13Sep'13Jun'13Mar'13Dec'12Sep'12Jun'12Mar'12Dec'11Sep'11Jun'11Mar'11
Operating activities:
Net (loss) income

-10,579

43,232

39,413

36,822

49,442

46,033

13,016

26,974

23,713

2,779

42,144

19,076

14,979

11,323

-51,946

30,833

26,607

1,596

-9,364

25,185

29,967

27,957

30,138

21,353

18,830

22,216

21,064

11,012

19,448

20,167

21,308

16,596

11,406

17,134

15,370

14,775

13,679

Adjustments to reconcile net income to net cash provided by operating activities:
Loss from discontinued operations, net of income taxes

-

-

-

-

-

-

-

-

-

0

0

0

-199

829

0

0

-3,182

-29,214

2,286

1,661

1,880

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Depreciation and amortization

10,285

11,293

10,000

9,741

9,995

9,996

9,873

10,923

10,436

14,158

8,522

8,672

8,625

8,740

8,032

8,235

9,861

9,102

8,043

7,878

8,137

7,221

6,933

6,829

6,117

5,020

4,523

2,158

1,846

1,647

1,533

1,297

1,363

1,745

1,054

809

1,053

Other non-cash interest expense, net

-5,909

19,264

-7,816

-9,604

-6,629

48,258

-8,200

-10,656

-11,597

32,614

-3,459

-9,405

-11,904

-2,066

-9,315

-9,709

-9,533

-9,575

-8,347

-9,377

-7,805

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Non-cash interest expense

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

5,254

-

1,861

2,033

1,517

1,177

881

744

466

466

466

461

440

Impairment charge for goodwill and identifiable intangible assets

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

51

10,349

-

-

-

-

Stock-based compensation expense

4,527

3,145

4,005

3,581

1,826

2,528

5,007

3,169

2,276

3,358

3,531

2,760

750

3,125

633

5,151

3,718

4,749

5,156

6,198

5,905

3,621

4,009

4,715

4,836

3,486

3,983

2,179

3,001

2,084

1,905

2,539

2,266

1,729

2,405

1,810

1,765

Loss on derivative instruments, net

-

-

-

-

-

-

-

-

-

-

-

-

-

-3,069

3,354

2,132

5,399

-

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Deferred income taxes

-12,030

17,327

-18,965

4,295

19,682

-1,919

10,477

3,185

5,071

34,366

-2,232

876

-4,040

-6,381

-21,522

-3,414

-21,588

-16,408

-1,022

5,041

-4,276

-36,215

-21,479

4,849

4,767

-27,971

3,080

-3,504

207

-9,297

1,912

534

-623

-

-

-

-58

Changes in expected current and future recoveries

98,661

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Excess tax benefit from stock-based payment arrangements

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

226

842

637

506

666

8,127

2,629

371

1,390

2,865

983

7,723

-5,289

622

1,067

197

177

3,384

1,343

Loss on sale of discontinued operations, net of tax

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Allowance reversals on receivable portfolios, net

0

-20,053

8,515

2,063

1,367

10,001

4,029

17,632

9,811

10,711

41,486

-13,093

2,132

-170,954

91,447

-2,479

-2,191

10,721

3,261

-4,360

-2,859

-4,952

-5,803

-3,422

-3,230

-4,535

-2,978

-3,674

-1,006

-2,715

-717

-1,162

373

2,714

1,605

12,002

-5,498

Other, net

2,161

-

4,488

9,919

4,081

-

-2,234

-8,798

1,342

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Changes in operating assets and liabilities
Deferred court costs and other assets

-3,377

20,036

-21,676

-5,014

-18,725

16,089

6,171

7,555

5,811

-15,993

14,143

3,538

2,413

27,936

-8,238

1,899

-1,233

2,083

17,910

1,564

11,873

-5,216

7,473

8,554

471

13,594

-8,907

5,339

1,671

-2,873

278

-624

326

-235

-1,881

-1,882

1,819

Deferred court costs

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-719

331

1,333

2,380

58

1,782

2,128

Prepaid income tax and income taxes payable

14,970

-4,438

15,329

-6,322

-30,247

2,865

-1,131

24,795

-2,245

-42,264

-4,824

5,006

15,383

27,902

-7,745

-13,564

18,824

19,927

-23,601

-30,677

4,847

19,778

11,440

-12,161

3,123

25,317

-6,226

-23,873

4,314

15,467

-1,952

-8,585

2,130

3,072

3,399

-8,413

8,437

Accounts payable, accrued liabilities and other liabilities

-46,476

-18,642

258

23,915

-67,775

21,524

-12,605

42,225

-35,539

11,156

-6,731

13,325

-16,095

26,585

3,090

-13,213

-14,023

4,771

43,980

9,465

-15,081

-14,018

22,276

26,020

-24,446

12,616

-4,209

5,801

-2,980

2,392

-3,524

4,469

853

2,275

1,853

-391

-450

Net cash provided by operating activities from continuing operations

-

-

-

-

-

-

-

-

-

-

-

-

-

45,064

36,188

17,227

29,757

59,343

14,378

24,040

20,055

7,957

46,390

40,222

12,151

-

-

-

-

-

-

-

-

-

-

-

-

Net cash provided by operating activities from discontinued operations

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

2,096

-6,575

1,591

3,982

-665

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net cash provided by operating activities

70,805

47,787

88,126

97,829

10,991

66,769

22,395

96,598

1,029

42,127

10,401

44,130

27,160

45,064

36,188

17,227

31,853

52,768

15,969

28,022

19,390

-

-

-

-

-

-

-

23,693

32,367

21,548

17,502

27,103

26,348

26,488

6,669

25,074

Investing activities:
Cash paid for acquisitions, net of cash acquired

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

40,361

-1,659

237,873

0

-49,354

191,987

45,806

257,726

35,969

119,726

293,329

0

-

-

-

-

-

-

-

-

Proceeds from divestiture of business, net of cash divested

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

106,041

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Purchases of receivable portfolios, net of put-backs

209,045

278,029

257,164

241,302

258,635

249,306

248,749

352,131

280,909

306,351

274,971

241,622

222,885

194,707

195,041

236,675

280,990

199,803

193,655

213,063

143,239

196,527

191,349

217,946

257,175

93,124

58,242

40,303

57,893

152,394

45,419

230,983

130,463

136,743

65,731

93,701

90,675

Collections applied to investment in receivable portfolios, net

169,914

169,381

183,178

202,386

202,695

194,678

199,836

208,772

206,402

159,876

178,259

181,620

189,665

151,769

156,333

170,423

180,796

147,725

153,587

170,370

164,217

145,874

162,635

163,524

161,927

128,342

157,493

130,038

130,493

93,610

106,000

102,975

104,230

66,748

71,582

82,933

80,211

Proceeds from put-backs of receivable portfolios

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

891

734

509

645

798

900

Originations and purchases of receivables secured by tax liens

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

23,725

65,891

19,123

16,682

12,317

60,515

27,446

-

-

-

-

-

-

-

-

Collections applied to receivables secured by tax liens

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

40,770

31,131

22,085

19,462

24,014

15,285

11,812

-

-

-

-

-

-

-

-

Purchases of property and equipment

7,538

8,890

13,232

7,253

10,227

30,039

12,781

13,435

11,220

7,608

8,534

5,903

6,081

15,120

6,454

7,525

2,569

12,870

5,112

6,371

4,271

9,486

4,655

5,965

2,978

5,245

2,843

3,020

2,315

2,600

1,070

1,040

1,555

2,106

1,997

831

630

Payments to acquire interest in affiliates

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Payment for derivative instruments, net

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-1,508

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Other, net

-3,414

-5,226

-4,948

5

3,347

15,434

-5,166

-395

-1,239

-6,639

2,404

-14,249

9,690

-1,994

3,502

-4,177

675

-

-

-251

251

3,115

1,987

0

0

-

-

-

-

-

-

-

-

-

-

-

-

Net cash used in investing activities from continuing operations

-

-

-

-

-

-

-

-

-

-

-

-

-

-77,176

-38,626

-71,783

4,111

-106,542

-43,521

-286,686

16,456

853

-210,298

-140,953

-352,990

-

-

-

-

-

-

-

-

-

-

-

-

Net cash provided by investing activities from discontinued operations

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

14,685

-11,262

20,498

-49,687

-11,965

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net cash used in investing activities

-43,255

-4,375

-82,270

-46,174

-69,514

-71,445

-85,184

-156,399

-84,488

-244,351

-92,705

-66,084

-48,991

-77,176

-38,626

-71,783

18,796

-117,804

-23,023

-336,373

4,491

-

-

-

-

-

-

-

54,651

-61,769

65,805

-320,752

-27,054

-71,592

4,499

-10,801

-10,194

Financing activities:
Payment of loan and debt refinancing costs

-

-

-

-

-

-

-

-

-

9,062

16,495

673

2,742

28,588

816

1,539

1,395

10,679

742

2,295

4,279

4,830

598

451

14,222

55

5,306

9,506

2,340

-

-

-

-

5

21

80

734

Proceeds from credit facilities

171,880

122,529

158,248

126,594

196,263

175,715

340,821

248,201

177,449

506,339

597,121

131,058

199,962

130,230

167,036

100,234

188,516

172,805

169,923

607,380

134,285

349,968

313,577

222,606

457,266

137,875

8,000

480,324

33,741

118,000

7,000

339,899

43,500

-

-

-

-

Repayment of credit facilities

167,221

145,437

164,804

156,334

119,854

105,478

173,236

205,074

87,356

195,616

599,108

115,272

258,073

171,889

136,022

71,574

236,372

426,476

114,114

233,101

124,395

305,361

146,026

285,812

447,045

138,701

263,287

136,375

91,800

126,625

92,548

36,000

34,500

-

-

-

-

Proceeds from senior secured notes

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

288,645

-

-

-

-

-

-

-

-

0

0

0

25,000

Repayment of senior secured notes

16,250

10,313

0

460,455

0

-

-

-

-

1,029

197,038

3,087

3,087

338,206

3,087

7,506

3,750

3,750

3,750

3,750

3,750

3,750

3,750

3,750

3,750

3,750

3,750

3,750

2,500

-

-

-

-

-

-

-

-

Proceeds from issuance of convertible and exchangeable senior notes

-

-

-

-

-

-

-

-

-

0

0

0

150,000

0

0

0

0

-

-

-

-

0

0

0

161,000

0

22,500

150,000

0

-

-

-

-

-

-

-

-

Repayment of convertible senior notes

-

-

-

-

-

-

-

-

-

65,001

0

0

60,406

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds from convertible hedge instruments

-

-

-

-

-

-

-

-

-

-

0

0

5,580

-

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Purchases of convertible hedge instruments

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

33,576

13,895

2,363

15,750

0

-

-

-

-

-

-

-

-

Proceeds from revolving credit facility

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

19,000

Repayment of revolving credit facility

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

46,000

Proceeds from exercise of stock options

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

846

-

-

1,522

1,061

-24

39

951

297

Taxes paid related to net share settlement of equity awards

-

-

-

-

-

-

-

80

2,571

-

-

392

2,065

-

45

714

3,354

-

790

706

4,554

968

981

13,131

5,244

321

850

5,548

2,872

682

110

84

2,093

415

88

1,949

1,439

Excess tax benefit from stock-based payment arrangements

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

226

842

637

506

666

8,127

2,629

371

1,390

2,865

983

523

1,911

622

1,067

197

177

3,384

1,343

Proceeds from other debt

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

-

-

-

-

-

-

-

-

Repayment of securitized notes

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

11,927

9,630

16,069

6,625

9,154

11,806

8,793

0

-

-

-

-

-

-

-

-

-

-

-

-

Repayment of other debt

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

39,743

0

0

-

-

-

-

-

-

-

-

Other, net

-10,171

-9,886

-6,410

3,761

-4,862

-9,612

-2,592

1,650

-2,884

2,310

3,514

-4,078

-876

10,434

-2,291

-3,582

-5,132

-2,745

937

-3,048

-3,592

6,159

-395

974

408

525

-463

-2,618

2,008

-

-

-

-

-

-

-

-

Repayment of capital lease obligations

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

1,522

1,685

1,134

1,082

889

877

Net cash (used in) provided by financing activities

-21,762

-51,083

3,735

-43,969

71,547

-38,550

83,892

36,397

84,638

222,908

119,460

7,556

28,293

29,566

24,909

50,265

-61,487

54,266

42,060

316,068

-12,273

33,272

149,985

36,955

406,111

-18,680

-131,473

462,083

-65,950

27,649

-83,104

302,818

7,350

42,619

-34,975

-3,583

-3,410

Net increase in cash and cash equivalents

5,788

-7,671

9,591

7,686

13,024

-43,226

21,103

-23,404

1,179

20,684

37,156

-14,398

6,462

-2,546

22,471

-4,291

-10,838

-10,770

35,006

7,717

11,608

-4,903

-13,923

-63,776

65,272

13,383

-114,529

192,267

12,394

-1,753

4,249

-432

7,399

-2,625

-3,988

-7,715

11,470

Effect of exchange rate changes on cash and cash equivalents

-9,924

13,329

8,521

-6,217

-3,346

-4,005

1,889

-12,077

3,820

3,209

4,443

1,114

3,704

-5,361

-3,808

-1,313

1,858

-10,857

2,056

-5,768

438

13,626

5,956

-9,206

4,904

2,674

2,514

0

0

-

-

-

-

-

-

-

-

Supplemental disclosure of cash information:
Cash paid for interest

60,495

-

-

-

62,135

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-25,091

65,453

13,542

41,130

1,938

35,706

7,052

5,485

6,584

7,559

5,956

5,119

4,447

4,873

4,716

5,002

Cash paid for taxes, net of refunds

766

-

-

-

15,003

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

15,496

16,647

31,702

6,103

12,260

13,986

32,993

7,520

9,457

13,732

19,033

4,075

7,265

7,046

17,648

166

Supplemental schedule of non-cash investing and financing activities:
Property and equipment acquired through finance leases

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

1,489

3,086

2,597

1,169

3,822

0

515

674

2,470

38

1,215

1,564

515

708

1,355

371