PRA GROUP INC
For the period ended Mar 31, 2024. Filed May 8, 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.
Mar 31, 2024 · Filed May 8, 2024
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3. Investments
- Investments:
Investments consisted of the following as of March 31, 2024 and December 31, 2023 (amounts in thousands):
| March 31, 2024 | December 31, 2023 | |
|---|---|---|
| Debt securities | ||
| Available-for-sale | $47,149 | $59,470 |
| Equity securities | ||
| Private equity funds | 2,243 | 2,451 |
| Equity method investment | 9,487 | 10,483 |
| Total investments | $58,879 | $72,404 |
Debt Securities
Government securities: As of March 31, 2024, the Company's available-for-sale debt securities consisted of Swedish treasury securities, all of which mature within one year. As of March 31, 2024 and December 31, 2023, the amortized cost and fair value of these investments were as follows (amounts in thousands):
| March 31, 2024 | ||||
|---|---|---|---|---|
| Amortized Cost | Gross Unrealized Gains | Gross Unrealized Losses | Aggregate Fair Value | |
| Available-for-sale | ||||
| Government securities | $47,037 | $112 | $— | $47,149 |
| December 31, 2023 | ||||
| Amortized Cost | Gross Unrealized Gains | Gross Unrealized Losses | Aggregate Fair Value | |
| Available-for-sale | ||||
| Government securities | $59,404 | $66 | $— | $59,470 |
Equity Method Investment
The Company has an 11.7% interest in RCB Investimentos S.A. ("RCB"), a servicing platform for nonperforming loans in Brazil, accounted for under the equity method.
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