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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Cash flows from operating activities    
Net income (loss) $ 27,166 $ 67,624
Adjustments to reconcile net income (loss) to net cash provided by operating activities:    
Provision for loss on receivables 8,685 1,411
Depreciation and amortization 1,925 1,839
Amortization of financing costs 5,632 5,579
Equity-based compensation 15,933 9,787
Equity method investments (12,186) (62,941)
Non-cash gain on securitization (14,952) (26,454)
(Gain) loss on sale of receivables and investments (218) (720)
Loss on debt extinguishment 0 14,584
Changes in receivables held-for-sale (51,649) (9,190)
Changes in accounts payable and accrued expenses 3,666 (534)
Change in accrued interest on receivables and investments (7,334) (893)
Other (3,558) (2,285)
Net cash provided by (used in) operating activities (26,890) (2,193)
Cash flows from investing activities    
Equity method investments (136,582) (136,921)
Equity method investment distributions received 36,381 7,677
Proceeds from sales of equity method investments 1,700 0
Purchases of and investments in receivables (264,618) (197,153)
Principal collections from receivables 87,799 51,065
Proceeds from sales of receivables 5,047 75,582
Purchases of real estate (4,550) 0
Purchases of investments (2,329) (4,830)
Proceeds from sales of investments and securitization assets 7,020 15,197
Funding of escrow accounts 0 (11,851)
Withdrawal from escrow accounts 15,156 1,538
Other (574) 1,083
Net cash provided by (used in) investing activities (255,550) (198,613)
Cash flows from financing activities    
Proceeds from credit facilities 100,000 25,000
Principal payments on credit facilities 0 (3,041)
Proceeds from issuance of commercial paper notes 50,000 0
Principal payments on non-recourse debt (13,529) (25,554)
Proceeds from issuance of senior unsecured notes 0 1,000,000
Proceeds from issuance of convertible notes 200,000 0
Redemption of senior unsecured notes 0 (514,101)
Net proceeds of common stock issuances 77,974 102,727
Payments of dividends and distributions (64,930) (55,513)
Withholdings on employee share vesting (3,161) (14,018)
Payment of financing costs (8,241) (15,629)
Other (2,545) (12)
Net cash provided by (used in) financing activities 335,568 499,859
Increase (decrease) in cash, cash equivalents, and restricted cash 53,128 299,053
Cash, cash equivalents, and restricted cash at beginning of period 251,073 310,331
Cash, cash equivalents, and restricted cash at end of period 304,201 609,384
Interest paid 48,402 60,082
Supplemental disclosure of non-cash activity    
Residual assets retained from securitization transactions 14,952 34,684
Right-of-use asset obtained in exchange for lease liability 0 0
Issuance of common stock from conversion of Convertible Notes 7,674 0
Deconsolidation of non-recourse debt 0 121,512
Deconsolidation of assets pledged for non-recourse debt $ 0 $ 127,614

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