ENCORE CAPITAL GROUP INC
For the period ended Sep 30, 2024. Filed Nov 6, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Sep 30, 2024 · Filed Nov 6, 2024
Extracted filing text, with the paragraph anchors used by the comparison.
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Condensed Consolidated Statements of Financial Condition
(In Thousands, Except Par Value Amounts)
(Unaudited)
| September 30,2024 | December 31,2023 | |
|---|---|---|
| Assets | ||
| Cash and cash equivalents | $247,353 | $158,364 |
| Investment in receivable portfolios, net | 3,719,260 | 3,468,432 |
| Property and equipment, net | 103,550 | 103,959 |
| Other assets | 295,422 | 293,256 |
| Goodwill | 628,131 | 606,475 |
| Total assets | $4,993,716 | $4,630,486 |
| Liabilities and Equity | ||
| Liabilities: | ||
| Accounts payable and accrued liabilities | $222,841 | $189,928 |
| Borrowings | 3,550,574 | 3,318,031 |
| Other liabilities | 172,196 | 185,989 |
| Total liabilities | 3,945,611 | 3,693,948 |
| Commitments and contingencies (Note 11) | ||
| Equity: | ||
| Convertible preferred stock, $0.01 par value, 5,000 shares authorized, no shares issued and outstanding | — | — |
| Common stock, $0.01 par value, 75,000 shares authorized, 23,691 and 23,545 shares issued and outstanding as of September 30, 2024 and December 31, 2023, respectively | 237 | 235 |
| Additional paid-in capital | 17,016 | 11,052 |
| Accumulated earnings | 1,135,234 | 1,049,171 |
| Accumulated other comprehensive loss | (104,382) | (123,920) |
| Total stockholders’ equity | 1,048,105 | 936,538 |
| Total liabilities and stockholders’ equity | $4,993,716 | $4,630,486 |
The following table presents certain assets and liabilities of consolidated variable interest entities (“VIEs”) included in the condensed consolidated statements of financial condition above. The liabilities in the table below can only be settled from assets in the respective VIEs. Creditors of the VIEs do not have recourse to the general credit of the Company. See “Note 8: Variable Interest Entities” for additional information on the Company’s VIEs.
| September 30,2024 | December 31,2023 | |
|---|---|---|
| Assets | ||
| Cash and cash equivalents | $28,740 | $24,472 |
| Investment in receivable portfolios, net | 818,540 | 717,556 |
| Other assets | 5,485 | 19,358 |
| Liabilities | ||
| Accounts payable and accrued liabilities | 2,129 | 1,854 |
| Borrowings | 484,105 | 494,925 |
| Other liabilities | 2,915 | 2,452 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.