PRA GROUP INC
For the period ended Dec 31, 2023. Filed Feb 29, 2024.
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FY2023 · Filed Feb 29, 2024
PRAA$11.96-5.9%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Item 8. Consolidated Statements of Cash Flows
Consolidated Statements of Cash Flows
| 2023 | 2022 | 2021 | |
|---|---|---|---|
| Cash flows from operating activities: | |||
| Net income/(loss) | $(66,754) | $117,998 | $195,509 |
| Adjustments to reconcile net income to net cash provided by operating activities: | |||
| Share-based compensation expense | 11,095 | 13,047 | 15,940 |
| Depreciation, amortization and impairment | 18,615 | 15,243 | 15,256 |
| Gain on extinguishment of senior notes | (343) | — | — |
| Amortization of debt discount and issuance costs | 9,223 | 10,097 | 9,508 |
| Changes in expected recoveries | (29,134) | (168,904) | (197,904) |
| Deferred income taxes | (35,942) | 607 | 6,803 |
| Net unrealized foreign currency transaction (gains)/losses | (16,552) | 34,970 | 29,003 |
| Fair value in earnings for equity securities | 1,564 | 437 | (386) |
| Other | (2,755) | (191) | (211) |
| Changes in operating assets and liabilities: | |||
| Other assets | (1,835) | 7,096 | 195 |
| Accounts payable | (1,205) | 3,960 | (1,323) |
| Income taxes payable, net | (4,815) | 13,709 | (30,824) |
| Accrued expenses | 18,968 | (2,449) | 19,586 |
| Other liabilities | 2,834 | (24,492) | 23,691 |
| Right-of-use asset/lease liability | (499) | 464 | 82 |
| Net cash provided by/(used in) operating activities | (97,535) | 21,592 | 84,925 |
| Cash flows from investing activities: | |||
| Purchases of property and equipment, net | (2,887) | (13,251) | (11,212) |
| Purchases of nonperforming loan portfolios | (1,160,289) | (844,255) | (971,708) |
| Recoveries applied to negative allowance | 917,025 | 974,846 | 1,185,954 |
| Purchases of investments | (60,057) | (63,000) | (110,915) |
| Proceeds from sales and maturities of investments | 71,348 | 66,113 | 68,904 |
| Business acquisition, net of cash acquired | — | — | (647) |
| Net cash provided by/(used in) investing activities | (234,860) | 120,453 | 160,376 |
| Cash flows from financing activities: | |||
| Proceeds from lines of credit | 814,630 | 1,607,108 | 769,903 |
| Principal payments on lines of credit | (480,100) | (1,598,608) | (1,163,075) |
| Retirement of Convertible Senior Notes due 2023 | (345,000) | — | — |
| Proceeds from issuance of Senior Notes due 2029 | — | — | 350,000 |
| Proceeds from issuance of Senior Notes due 2028 | 400,000 | — | — |
| Principal payments on long-term debt | (7,500) | (10,000) | (10,000) |
| Repurchases of senior notes | (3,657) | — | — |
| Repurchases of common stock | — | (111,371) | (200,887) |
| Payments of origination cost and fees | (5,323) | (15,550) | (9,479) |
| Tax withholdings related to share-based payments | (6,194) | (8,472) | (5,992) |
| Distributions to noncontrolling interests | (10,140) | (6,691) | (21,411) |
| Contributions from noncontrolling interests | — | 17,554 | 23,413 |
| Net decrease in interest-bearing deposits | (1,416) | 4,688 | 4,716 |
| Net cash provided by/(used in) financing activities | 355,300 | (121,342) | (262,812) |
| Effect of exchange rates on cash | 6,029 | (25,017) | (14,464) |
| Net increase/(decrease) in cash and cash equivalents | 28,934 | (4,314) | (31,975) |
| Cash and cash equivalents, beginning of period | 84,758 | 89,072 | 121,047 |
| Cash and cash equivalents, end of period | $113,692 | $84,758 | $89,072 |
| Supplemental disclosure of cash flow information: | |||
| Cash paid for interest | $138,305 | $116,932 | $112,277 |
| Cash paid for income taxes | 25,544 | 21,860 | 77,817 |
| Cash, cash equivalents and restricted cash reconciliation: | |||
| Cash and cash equivalents per the Consolidated Balance Sheets | $112,528 | $83,376 | $87,584 |
| Restricted cash included in Other assets per the Consolidated Balance Sheets | 1,164 | 1,382 | 1,488 |
| Total cash, cash equivalents and restricted cash | $113,692 | $84,758 | $89,072 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.