PRA GROUP INC
For the period ended Sep 30, 2024. Filed Nov 8, 2024.
View on SEC.govAbout this filing
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 8, 2024
PRAA$11.96-5.9%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Consolidated Statements of Cash Flows
For the Nine Months Ended September 30, 2024
| Nine Months Ended September 30, | ||
|---|---|---|
| 2024 | 2023 | |
| Cash flows from operating activities: | ||
| Net income/(loss) | $65,789 | $(60,894) |
| Adjustments to reconcile net income/(loss) to net cash used in operating activities: | ||
| Share-based compensation | 10,133 | 8,143 |
| Depreciation, amortization and impairment | 7,826 | 15,381 |
| Amortization of debt discount and issuance costs | 8,326 | 7,045 |
| Changes in expected recoveries | (185,608) | (6,380) |
| Deferred income taxes | (7,277) | (26,276) |
| Net unrealized foreign currency transaction gain | (16,593) | (31,783) |
| Other | (234) | (567) |
| Changes in operating assets and liabilities: | ||
| Other assets | (201) | 1,111 |
| Accrued expenses, accounts payable and other liabilities | (22,092) | (5,793) |
| Income taxes payable, net | 2,407 | (18,259) |
| Net cash used in operating activities | (137,524) | (118,272) |
| Cash flows from investing activities: | ||
| Purchases of property and equipment, net | (2,881) | (2,306) |
| Purchases of nonperforming loan portfolios | (975,164) | (875,373) |
| Recoveries applied to negative allowance | 784,329 | 695,386 |
| Purchases of investments | (48,247) | (60,058) |
| Proceeds from sales and maturities of investments | 58,130 | 62,762 |
| Net cash used in investing activities | (183,833) | (179,589) |
| Cash flows from financing activities: | ||
| Proceeds from lines of credit | 958,636 | 695,651 |
| Principal payments on lines of credit | (693,622) | (389,658) |
| Principal payments on long-term debt | (10,000) | (7,500) |
| Proceeds from issuance of Senior Notes due 2030 | 400,000 | — |
| Proceeds from issuance of Senior Notes due 2028 | — | 400,000 |
| Retirement of Senior Notes due 2025 | (298,000) | — |
| Retirement of Convertible Senior Notes due 2023 | — | (345,000) |
| Repurchases of senior notes | — | (3,657) |
| Payments of origination costs and fees | (5,926) | (5,323) |
| Tax withholdings related to share-based payments | (1,787) | (6,155) |
| Distributions to noncontrolling interests | (18,014) | (2,360) |
| Contributions from noncontrolling interests | 2,396 | — |
| Net increase/(decrease) in interest-bearing deposits | 13,390 | (7,747) |
| Net cash provided by financing activities | 347,073 | 328,251 |
| Effect of exchange rates on cash | 3,024 | 3,270 |
| Net increase in cash, cash equivalents and restricted cash | 28,740 | 33,660 |
| Cash, cash equivalents and restricted cash, beginning of period | 113,692 | 84,758 |
| Cash, cash equivalents and restricted cash, end of period | $142,432 | $118,418 |
| Supplemental disclosure of cash flow information: | ||
| Cash paid for interest | $176,537 | $111,344 |
| Cash paid for income taxes | 15,460 | 28,479 |
| Reconciliation to Balance Sheet accounts: | ||
| Cash and cash equivalents | $141,135 | $105,172 |
| Restricted cash included in Other assets | 1,297 | 13,246 |
| Cash, cash equivalents and restricted cash | $142,432 | $118,418 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.