v3.22.2.2
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Cash flows from operating activities    
Net income (loss) $ 62,107 $ 64,525
Adjustments to reconcile net income (loss) to net cash provided by operating activities:    
Provision for loss on receivables 6,222 2,896
Depreciation and amortization 2,938 2,811
Amortization of financing costs 8,666 8,445
Equity-based compensation 17,994 13,503
Equity method investments (26,340) (45,684)
Non-cash gain on securitization (25,201) (37,521)
(Gain) loss on sale of receivables and investments (218) (720)
Loss on debt extinguishment 0 14,584
Changes in receivables held-for-sale 5,466 0
Changes in accounts payable and accrued expenses 28,154 11,606
Change in accrued interest on receivables and investments (10,077) (9,516)
Other (5,736) (3,243)
Net cash provided by (used in) operating activities 63,975 21,686
Cash flows from investing activities    
Equity method investments (143,645) (155,461)
Equity method investment distributions received 99,599 10,936
Proceeds from sales of equity method investments 1,700 300
Purchases of and investments in receivables (337,517) (407,517)
Principal collections from receivables 106,695 87,548
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 (228) (12,069)
Withdrawal from escrow accounts 15,156 1,538
Other (815) 546
Net cash provided by (used in) investing activities (253,867) (388,230)
Cash flows from financing activities    
Proceeds from credit facilities 100,000 25,000
Principal payments on credit facilities (100,000) (22,441)
Proceeds from issuance of commercial paper notes 50,000 0
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 127,008 151,501
Payments of dividends and distributions (98,310) (83,354)
Withholdings on employee share vesting (3,211) (14,018)
Payment of financing costs (8,203) (17,672)
Other (8,128) (13)
Net cash provided by (used in) financing activities 237,029 495,002
Increase (decrease) in cash, cash equivalents, and restricted cash 47,137 128,458
Cash, cash equivalents, and restricted cash at beginning of period 251,073 310,331
Cash, cash equivalents, and restricted cash at end of period 298,210 438,789
Interest paid 62,594 74,962
Supplemental disclosure of non-cash activity    
Residual assets retained from securitization transactions 25,374 45,578
Right-of-use asset obtained in exchange for lease liability 0 4,628
Issuance of common stock from conversion of Convertible Notes 7,674 135,800
Deconsolidation of non-recourse debt 0 126,139
Deconsolidation of assets pledged for non-recourse debt 0 130,513
Non-recourse    
Cash flows from financing activities    
Principal payments on non-recourse debt $ (22,127) $ (29,900)

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