ENCORE CAPITAL GROUP, INC. ECPG Cash Flow

Encore capital group, inc. (ECPG)

CashFlow / TTM

Mar'20	Dec'19	Sep'19	Jun'19	Mar'19	Dec'18	Sep'18	Jun'18	Mar'18	Dec'17	Sep'17	Jun'17	Mar'17	Dec'16	Sep'16	Jun'16	Mar'16	Dec'15	Sep'15	Jun'15	Mar'15	Dec'14	Sep'14	Jun'14	Mar'14	Dec'13	Sep'13	Jun'13	Mar'13	Dec'12	Sep'12	Jun'12	Mar'12	Dec'11	Sep'11	Jun'11	Mar'11
Operating activities:
Net (loss) income
108,888	168,909	171,710	145,313	135,465	109,736	66,482	95,610	87,712	78,978	87,522	-6,568	5,189	16,817	7,090	49,672	44,024	47,384	73,745	113,247	109,415	98,278	92,537	83,463	73,122	73,740	71,691	71,935	77,519	69,477	66,444	60,506	58,685	60,958	0	0	0
Adjustments to reconcile net income to net cash provided by operating activities:
Loss from discontinued operations, net of income taxes
-	-	-	-	-	-	-	-	-	-199	630	630	630	-2,353	-32,396	-30,110	-28,449	-23,387	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Depreciation and amortization
41,319	41,029	39,732	39,605	40,787	41,228	45,390	44,039	41,788	39,977	34,559	34,069	33,632	34,868	35,230	35,241	34,884	33,160	31,279	30,169	29,120	27,100	24,899	22,489	17,818	13,547	10,174	7,184	6,323	5,840	5,938	5,459	4,971	4,661	0	0	0
Other non-cash interest expense, net
-4,065	-4,785	24,209	23,825	22,773	17,805	2,161	6,902	8,153	7,846	-26,834	-32,690	-32,994	-30,623	-38,132	-37,164	-36,832	-35,104	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Non-cash interest expense
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	6,588	5,608	4,319	3,268	2,557	2,142	1,859	1,833	0	0	0
Impairment charge for goodwill and identifiable intangible assets
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	10,400	0	0	0	-	-	-	-
Stock-based compensation expense
15,258	12,557	11,940	12,942	12,530	12,980	13,810	12,334	11,925	10,399	10,166	7,268	9,659	12,627	14,251	18,774	19,821	22,008	20,880	19,733	18,250	17,181	17,046	17,020	14,484	12,649	11,247	9,169	9,529	8,794	8,439	8,939	8,210	7,709	0	0	0
Loss on derivative instruments, net
-	-	-	-	-	-	-	-	-	-	-	-	-	7,816	0	0	5,399	-	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Deferred income taxes
-9,373	22,339	3,093	32,535	31,425	16,814	53,099	40,390	38,081	28,970	-11,777	-31,067	-35,357	-52,905	-62,932	-42,432	-33,977	-16,665	-36,472	-56,929	-57,121	-48,078	-39,834	-15,275	-23,628	-28,188	-9,514	-10,682	-6,644	-7,474	0	0	0	-	-	-	0
Changes in expected current and future recoveries
0	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Excess tax benefit from stock-based payment arrangements
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	2,211	2,651	9,936	11,928	11,793	12,517	7,255	5,609	12,961	6,282	4,039	4,123	-3,403	2,063	4,825	5,101	0	0	0
Loss on sale of discontinued operations, net of tax
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Allowance reversals on receivable portfolios, net
-9,475	-8,108	21,946	17,460	33,029	41,473	42,183	79,640	48,915	41,236	-140,429	-90,468	-79,854	-84,177	97,498	9,312	7,431	6,763	-8,910	-17,974	-17,036	-17,407	-16,990	-14,165	-14,417	-12,193	-10,373	-8,112	-5,600	-4,221	1,208	3,530	16,694	10,823	0	0	0
Other, net
0	-	0	0	0	-	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Changes in operating assets and liabilities
Deferred court costs and other assets
-10,031	-25,379	-29,326	-1,479	11,090	35,626	3,544	11,516	7,499	4,101	48,030	25,649	24,010	20,364	-5,489	20,659	20,324	33,430	26,131	15,694	22,684	11,282	30,092	13,712	10,497	11,697	-4,770	4,415	-1,548	-2,893	-255	-2,414	-3,672	-2,179	0	0	0
Deferred court costs
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	3,325	4,102	5,553	6,348	0	0	0
Prepaid income tax and income taxes payable
19,539	-25,678	-18,375	-34,835	-3,718	24,284	-20,845	-24,538	-44,327	-26,699	43,467	40,546	21,976	25,417	17,442	1,586	-15,527	-29,504	-29,653	5,388	23,904	22,180	27,719	10,053	-1,659	-468	-10,318	-6,044	9,244	7,060	-5,335	16	188	6,495	0	0	0
Accounts payable, accrued liabilities and other liabilities
-40,945	-62,244	-22,078	-34,941	-16,631	15,605	5,237	11,111	-17,789	1,655	17,084	26,905	367	2,439	-19,375	21,515	44,193	43,135	24,346	2,642	19,197	9,832	36,466	9,981	-10,238	11,228	1,004	1,689	357	4,190	4,073	9,450	4,590	3,287	0	0	0
Net cash provided by operating activities from continuing operations
-	-	-	-	-	-	-	-	-	-	-	-	-	128,236	142,515	120,705	127,518	117,816	66,430	98,442	114,624	106,720	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Net cash provided by operating activities from discontinued operations
-	-	-	-	-	-	-	-	-	-	-	-	-	2,096	-4,479	-2,888	1,094	-1,667	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net cash provided by operating activities
304,547	244,733	263,715	197,984	196,753	186,791	162,149	150,155	97,687	123,818	126,755	152,542	125,639	130,332	138,036	117,817	128,612	116,149	0	0	0	-	-	-	-	-	-	-	95,110	98,520	92,501	97,441	86,608	84,579	0	0	0
Investing activities:
Cash paid for acquisitions, net of cash acquired
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	276,575	186,860	380,506	188,439	446,165	531,488	459,227	706,750	449,024	0	0	0	-	-	-	-	-	-	-	-
Proceeds from divestiture of business, net of cash divested
-	-	-	-	-	-	-	-	-	-	-	-	-	106,041	106,041	106,041	106,041	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Purchases of receivable portfolios, net of put-backs
985,540	1,035,130	1,006,407	997,992	1,108,821	1,131,095	1,188,140	1,214,362	1,103,853	1,045,829	934,185	854,255	849,308	907,413	912,509	911,123	887,511	749,760	746,484	744,178	749,061	862,997	759,594	626,487	448,844	249,562	308,832	296,009	486,689	559,259	543,608	563,920	426,638	386,850	0	0	0
Collections applied to investment in receivable portfolios, net
724,859	757,640	782,937	799,595	805,981	809,688	774,886	753,309	726,157	709,420	701,313	679,387	668,190	659,321	655,277	652,531	652,478	635,899	634,048	643,096	636,250	633,960	616,428	611,286	577,800	546,366	511,634	460,141	433,078	406,815	379,953	345,535	325,493	301,474	0	0	0
Proceeds from put-backs of receivable portfolios
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	2,779	2,686	2,852	0	0	0
Originations and purchases of receivables secured by tax liens
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	125,421	114,013	108,637	116,960	0	0	0	-	-	-	-	-	-	-	-
Collections applied to receivables secured by tax liens
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	113,448	96,692	80,846	70,573	0	0	0	-	-	-	-	-	-	-	-
Purchases of property and equipment
36,913	39,602	60,751	60,300	66,482	67,475	45,044	40,797	33,265	28,126	35,638	33,558	35,180	31,668	29,418	28,076	26,922	28,624	25,240	24,783	24,377	23,084	18,843	17,031	14,086	13,423	10,778	9,005	7,025	6,265	5,771	6,698	6,489	5,564	0	0	0
Payments to acquire interest in affiliates
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Payment for derivative instruments, net
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Other, net
-13,583	-6,822	13,838	13,620	13,220	8,634	-13,439	-5,869	-19,723	-8,794	-4,149	-3,051	7,021	-1,994	0	0	0	-	-	5,102	5,353	5,102	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Net cash used in investing activities from continuing operations
-	-	-	-	-	-	-	-	-	-	-	-	-	-183,474	-212,840	-217,735	-432,638	-420,293	-312,898	-479,675	-333,942	-703,388	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Net cash provided by investing activities from discontinued operations
-	-	-	-	-	-	-	-	-	-	-	-	-	14,685	3,423	23,921	-25,766	-52,416	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net cash used in investing activities
-176,074	-202,333	-269,403	-272,317	-382,542	-397,516	-570,422	-577,943	-487,628	-452,131	-284,956	-230,877	-236,576	-168,789	-209,417	-193,814	-458,404	-472,709	0	0	0	-	-	-	-	-	-	-	-262,065	-343,770	-353,593	-414,899	-104,948	-88,088	0	0	0
Financing activities:
Payment of loan and debt refinancing costs
-	-	-	-	-	-	-	-	-	28,972	48,498	32,819	33,685	32,338	14,429	14,355	15,111	17,995	12,146	12,002	10,158	20,101	15,326	20,034	29,089	17,207	0	0	0	-	-	-	-	840	0	0	0
Proceeds from credit facilities
579,251	603,634	656,820	839,393	961,000	942,186	1,272,810	1,529,110	1,411,967	1,434,480	1,058,371	628,286	597,462	586,016	628,591	631,478	1,138,624	1,084,393	1,261,556	1,405,210	1,020,436	1,343,417	1,131,324	825,747	1,083,465	659,940	640,065	639,065	498,640	508,399	0	0	0	-	-	-	-
Repayment of credit facilities
633,796	586,429	546,470	554,902	603,642	571,144	661,282	1,087,154	997,352	1,168,069	1,144,342	681,256	637,558	615,857	870,444	848,536	1,010,063	898,086	776,971	808,883	861,594	1,184,244	1,017,584	1,134,845	985,408	630,163	618,087	447,348	346,973	289,673	0	0	0	-	-	-	-
Proceeds from senior secured notes
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	288,645	0	0	0	-	-	-	-	-	-	-	-	25,000	0	0	0
Repayment of senior secured notes
487,018	470,768	0	0	0	-	-	-	-	204,241	541,418	347,467	351,886	352,549	18,093	18,756	15,000	15,000	15,000	15,000	15,000	15,000	15,000	15,000	15,000	13,750	0	0	0	-	-	-	-	-	-	-	-
Proceeds from issuance of convertible and exchangeable senior notes
-	-	-	-	-	-	-	-	-	150,000	150,000	150,000	150,000	0	0	0	0	-	-	-	-	161,000	161,000	183,500	333,500	172,500	0	0	0	-	-	-	-	-	-	-	-
Repayment of convertible senior notes
-	-	-	-	-	-	-	-	-	125,407	60,406	60,406	60,406	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Proceeds from convertible hedge instruments
-	-	-	-	-	-	-	-	-	-	0	0	0	-	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Purchases of convertible hedge instruments
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	33,576	47,471	49,834	65,584	32,008	0	0	0	-	-	-	-	-	-	-	-
Proceeds from revolving credit facility
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0
Repayment of revolving credit facility
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0
Proceeds from exercise of stock options
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	-	2,598	2,027	1,263	0	0	0
Taxes paid related to net share settlement of equity awards
-	-	-	-	-	-	-	0	0	-	-	0	0	-	0	0	5,089	-	7,018	7,209	19,634	20,324	19,677	19,546	11,963	9,591	9,952	9,212	3,748	2,969	2,702	2,680	4,545	3,891	0	0	0
Excess tax benefit from stock-based payment arrangements
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	2,211	2,651	9,936	11,928	11,793	12,517	7,255	5,609	5,761	6,282	4,039	4,123	3,797	2,063	4,825	5,101	0	0	0
Proceeds from other debt
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	-	-	-	-	-	-	-	-
Repayment of securitized notes
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	44,251	41,478	43,654	36,378	29,753	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Repayment of other debt
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	-	-	-	-	-	-	-	-
Other, net
-22,706	-17,397	-17,123	-13,305	-15,416	-13,438	-1,516	4,590	-1,138	870	8,994	3,189	3,685	-571	-13,750	-10,522	-9,988	-8,448	456	-876	3,146	7,146	1,512	1,444	-2,148	-548	0	0	0	-	-	-	-	-	-	-	-
Repayment of capital lease obligations
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	5,423	4,790	3,982	0	0	0
Net cash (used in) provided by financing activities
-113,079	-19,770	-7,237	72,920	153,286	166,377	427,835	463,403	434,562	378,217	184,875	90,324	133,033	43,253	67,953	85,104	350,907	400,121	379,127	487,052	207,939	626,323	574,371	292,913	718,041	245,980	292,309	340,678	181,413	254,713	269,683	317,812	11,411	651	0	0	0
Net increase in cash and cash equivalents
15,394	22,630	-12,925	-1,413	-32,503	-44,348	19,562	35,615	44,621	49,904	26,674	11,989	22,096	4,796	-3,428	9,107	21,115	43,561	49,428	499	-70,994	-17,330	956	-99,650	156,393	103,515	88,379	207,157	14,458	9,463	8,591	354	-6,929	-2,858	0	0	0
Effect of exchange rate changes on cash and cash equivalents
5,709	12,287	-5,047	-11,679	-17,539	-10,373	-3,159	-605	12,586	12,470	3,900	-4,351	-6,778	-8,624	-14,120	-8,256	-12,711	-14,131	10,352	14,252	10,814	15,280	4,328	886	10,092	5,188	0	0	0	-	-	-	-	-	-	-	-
Supplemental disclosure of cash information:
Cash paid for interest
0	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	95,034	122,063	92,316	85,826	50,181	54,827	26,680	25,584	25,218	23,081	20,395	19,155	19,038	0	0	0
Cash paid for taxes, net of refunds
0	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	69,948	66,712	64,051	65,342	66,759	63,956	63,702	49,742	46,297	44,105	37,419	36,034	32,125	0	0	0
Supplemental schedule of non-cash investing and financing activities:
Property and equipment acquired through finance leases
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	8,341	10,674	7,588	5,506	5,011	3,659	3,697	4,397	5,287	3,332	4,002	4,142	2,949	0	0	0