2023 Q3 Form 10-Q Financial Statement

#000108496123000090 Filed on August 02, 2023

View on sec.gov

Income Statement

Concept 2023 Q3 2023 Q2
Revenue $309.6M $326.5M
YoY Change 0.61% -8.51%
Cost Of Revenue $64.30M $67.54M
YoY Change 5.8% 3.79%
Gross Profit $262.4M $259.0M
YoY Change 0.9% -2.89%
Gross Profit Margin 84.75% 79.32%
Selling, General & Admin $130.6M $130.4M
YoY Change 3.23% -2.59%
% of Gross Profit 49.77% 50.34%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $11.20M $10.70M
YoY Change -3.94% -8.11%
% of Gross Profit 4.27% 4.13%
Operating Expenses $234.1M $167.4M
YoY Change 3.02% -29.64%
Operating Profit $75.52M $91.56M
YoY Change -6.21% -23.03%
Interest Expense $50.56M -$49.98M
YoY Change 28.62% -234.89%
% of Operating Profit 66.95% -54.59%
Other Income/Expense, Net -$45.46M -$1.755M
YoY Change 19.3% -95.02%
Pretax Income $30.06M $36.33M
YoY Change -29.12% -56.58%
Income Tax $10.72M $10.03M
% Of Pretax Income 35.67% 27.6%
Net Earnings $19.34M $26.31M
YoY Change -38.59% -56.48%
Net Earnings / Revenue 6.25% 8.06%
Basic Earnings Per Share $0.82 $1.11
Diluted Earnings Per Share $0.79 $1.08
COMMON SHARES
Basic Shares Outstanding 23.49M shares 23.48M shares
Diluted Shares Outstanding 24.38M shares 24.28M shares

Balance Sheet

Concept 2023 Q3 2023 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $144.7M $184.9M
YoY Change -1.59% 19.82%
Cash & Equivalents $144.7M $184.9M
Short-Term Investments
Other Short-Term Assets $34.00M $31.79M
YoY Change 62.46% 26.63%
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $188.9M $229.9M
YoY Change 1.29% 17.54%
LONG-TERM ASSETS
Property, Plant & Equipment $102.2M $178.6M
YoY Change -1.77% 62.97%
Goodwill $826.0M $852.2M
YoY Change 7.34% 3.4%
Intangibles
YoY Change
Long-Term Investments $3.321B $3.331B
YoY Change 11.57% 9.75%
Other Assets $16.10M $17.87M
YoY Change -55.49% -61.45%
Total Long-Term Assets $4.571B $4.647B
YoY Change 10.38% 8.98%
TOTAL ASSETS
Total Short-Term Assets $188.9M $229.9M
Total Long-Term Assets $4.571B $4.647B
Total Assets $4.760B $4.877B
YoY Change 9.99% 9.35%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $190.6M $203.1M
YoY Change -3.48% 0.94%
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $190.6M $203.1M
YoY Change -3.48% 0.94%
LONG-TERM LIABILITIES
Long-Term Debt $3.114B $3.203B
YoY Change 15.76% 14.69%
Other Long-Term Liabilities $256.7M $236.3M
YoY Change 3.82% 1.09%
Total Long-Term Liabilities $3.371B $3.440B
YoY Change 14.76% 13.64%
TOTAL LIABILITIES
Total Short-Term Liabilities $190.6M $203.1M
Total Long-Term Liabilities $3.371B $3.440B
Total Liabilities $3.562B $3.643B
YoY Change 13.61% 12.85%
SHAREHOLDERS EQUITY
Retained Earnings $1.320B $1.301B
YoY Change -2.83% -3.66%
Common Stock $235.0K $235.0K
YoY Change 0.0% -2.08%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $1.199B $1.234B
YoY Change
Total Liabilities & Shareholders Equity $4.760B $4.877B
YoY Change 9.99% 9.35%

Cashflow Statement

Concept 2023 Q3 2023 Q2
OPERATING ACTIVITIES
Net Income $19.34M $26.31M
YoY Change -38.59% -56.48%
Depreciation, Depletion And Amortization $11.20M $10.70M
YoY Change -3.94% -8.11%
Cash From Operating Activities $53.60M $26.71M
YoY Change -4.87% -39.3%
INVESTING ACTIVITIES
Capital Expenditures $7.300M $4.618M
YoY Change -179.95% -195.06%
Acquisitions
YoY Change
Other Investing Activities -$49.30M -$78.91M
YoY Change -26.03% -2844.8%
Cash From Investing Activities -$56.50M -$83.53M
YoY Change -25.44% 4112.36%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -31.70M 80.25M
YoY Change -312.64% -313.53%
NET CHANGE
Cash From Operating Activities 53.60M 26.71M
Cash From Investing Activities -56.50M -83.53M
Cash From Financing Activities -31.70M 80.25M
Net Change In Cash -34.60M 23.43M
YoY Change 664.64% 428.56%
FREE CASH FLOW
Cash From Operating Activities $53.60M $26.71M
Capital Expenditures $7.300M $4.618M
Free Cash Flow $46.30M $22.09M
YoY Change -29.29% -54.78%

Facts In Submission

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FinancingReceivablePurchasedWithCreditDeteriorationAllowanceForCreditLossAtAcquisitionDateWriteOffs
941939000 usd
ecpg Financing Receivable Purchased With Credit Deterioration Allowance For Credit Loss At Acquisition Date Write Offs
FinancingReceivablePurchasedWithCreditDeteriorationAllowanceForCreditLossAtAcquisitionDateWriteOffs
1900901000 usd
ecpg Financing Receivable Purchased With Credit Deterioration Allowance For Credit Loss At Acquisition Date Write Offs
FinancingReceivablePurchasedWithCreditDeteriorationAllowanceForCreditLossAtAcquisitionDateWriteOffs
1461630000 usd
CY2023Q2 ecpg Financing Receivable Purchased With Credit Deterioration Discount Premium Write Off
FinancingReceivablePurchasedWithCreditDeteriorationDiscountPremiumWriteOff
1049233000 usd
CY2022Q2 ecpg Financing Receivable Purchased With Credit Deterioration Discount Premium Write Off
FinancingReceivablePurchasedWithCreditDeteriorationDiscountPremiumWriteOff
907249000 usd
ecpg Financing Receivable Purchased With Credit Deterioration Discount Premium Write Off
FinancingReceivablePurchasedWithCreditDeteriorationDiscountPremiumWriteOff
2054454000 usd
ecpg Financing Receivable Purchased With Credit Deterioration Discount Premium Write Off
FinancingReceivablePurchasedWithCreditDeteriorationDiscountPremiumWriteOff
1564307000 usd
CY2023Q2 ecpg Financing Receivable Purchased With Credit Deterioration Allowance For Credit Loss At Acquisition Date Reversals
FinancingReceivablePurchasedWithCreditDeteriorationAllowanceForCreditLossAtAcquisitionDateReversals
274325000 usd
CY2022Q2 ecpg Financing Receivable Purchased With Credit Deterioration Allowance For Credit Loss At Acquisition Date Reversals
FinancingReceivablePurchasedWithCreditDeteriorationAllowanceForCreditLossAtAcquisitionDateReversals
173007000 usd
ecpg Financing Receivable Purchased With Credit Deterioration Allowance For Credit Loss At Acquisition Date Reversals
FinancingReceivablePurchasedWithCreditDeteriorationAllowanceForCreditLossAtAcquisitionDateReversals
550756000 usd
ecpg Financing Receivable Purchased With Credit Deterioration Allowance For Credit Loss At Acquisition Date Reversals
FinancingReceivablePurchasedWithCreditDeteriorationAllowanceForCreditLossAtAcquisitionDateReversals
342512000 usd
CY2023Q2 ecpg Certain Loans Acquired In Transfer Not Accounted For As Debt Securities Purchases Of Receivable Portfolios
CertainLoansAcquiredInTransferNotAccountedForAsDebtSecuritiesPurchasesOfReceivablePortfolios
274325000 usd
CY2022Q2 ecpg Certain Loans Acquired In Transfer Not Accounted For As Debt Securities Purchases Of Receivable Portfolios
CertainLoansAcquiredInTransferNotAccountedForAsDebtSecuritiesPurchasesOfReceivablePortfolios
173007000 usd
ecpg Certain Loans Acquired In Transfer Not Accounted For As Debt Securities Purchases Of Receivable Portfolios
CertainLoansAcquiredInTransferNotAccountedForAsDebtSecuritiesPurchasesOfReceivablePortfolios
550756000 usd
ecpg Certain Loans Acquired In Transfer Not Accounted For As Debt Securities Purchases Of Receivable Portfolios
CertainLoansAcquiredInTransferNotAccountedForAsDebtSecuritiesPurchasesOfReceivablePortfolios
342512000 usd
CY2023Q2 ecpg Certain Loans Acquired In Transfer Not Accounted For As Debt Securities Gross Collections
CertainLoansAcquiredInTransferNotAccountedForAsDebtSecuritiesGrossCollections
476522000 usd
CY2022Q2 ecpg Certain Loans Acquired In Transfer Not Accounted For As Debt Securities Gross Collections
CertainLoansAcquiredInTransferNotAccountedForAsDebtSecuritiesGrossCollections
497711000 usd
ecpg Certain Loans Acquired In Transfer Not Accounted For As Debt Securities Gross Collections
CertainLoansAcquiredInTransferNotAccountedForAsDebtSecuritiesGrossCollections
938878000 usd
ecpg Certain Loans Acquired In Transfer Not Accounted For As Debt Securities Gross Collections
CertainLoansAcquiredInTransferNotAccountedForAsDebtSecuritiesGrossCollections
1017125000 usd
CY2023Q2 us-gaap Certain Loans Acquired In Transfer Not Accounted For As Debt Securities Accretable Yield Accretion
CertainLoansAcquiredInTransferNotAccountedForAsDebtSecuritiesAccretableYieldAccretion
301184000 usd
CY2022Q2 us-gaap Certain Loans Acquired In Transfer Not Accounted For As Debt Securities Accretable Yield Accretion
CertainLoansAcquiredInTransferNotAccountedForAsDebtSecuritiesAccretableYieldAccretion
306282000 usd
us-gaap Certain Loans Acquired In Transfer Not Accounted For As Debt Securities Accretable Yield Accretion
CertainLoansAcquiredInTransferNotAccountedForAsDebtSecuritiesAccretableYieldAccretion
596858000 usd
us-gaap Certain Loans Acquired In Transfer Not Accounted For As Debt Securities Accretable Yield Accretion
CertainLoansAcquiredInTransferNotAccountedForAsDebtSecuritiesAccretableYieldAccretion
610387000 usd
CY2023Q2 ecpg Certain Loans Acquired In Transfer Not Accounted For As Debt Securities Collections Applied To Principal Balance
CertainLoansAcquiredInTransferNotAccountedForAsDebtSecuritiesCollectionsAppliedToPrincipalBalance
175338000 usd
CY2022Q2 ecpg Certain Loans Acquired In Transfer Not Accounted For As Debt Securities Collections Applied To Principal Balance
CertainLoansAcquiredInTransferNotAccountedForAsDebtSecuritiesCollectionsAppliedToPrincipalBalance
191429000 usd
ecpg Certain Loans Acquired In Transfer Not Accounted For As Debt Securities Collections Applied To Principal Balance
CertainLoansAcquiredInTransferNotAccountedForAsDebtSecuritiesCollectionsAppliedToPrincipalBalance
342020000 usd
ecpg Certain Loans Acquired In Transfer Not Accounted For As Debt Securities Collections Applied To Principal Balance
CertainLoansAcquiredInTransferNotAccountedForAsDebtSecuritiesCollectionsAppliedToPrincipalBalance
406738000 usd
CY2023Q2 ecpg Certain Loans Acquired In Transfer Not Accounted For As Debt Securities Changes To Expected Current Period Recoveries
CertainLoansAcquiredInTransferNotAccountedForAsDebtSecuritiesChangesToExpectedCurrentPeriodRecoveries
-477000 usd
CY2022Q2 ecpg Certain Loans Acquired In Transfer Not Accounted For As Debt Securities Changes To Expected Current Period Recoveries
CertainLoansAcquiredInTransferNotAccountedForAsDebtSecuritiesChangesToExpectedCurrentPeriodRecoveries
9935000 usd
ecpg Certain Loans Acquired In Transfer Not Accounted For As Debt Securities Changes To Expected Current Period Recoveries
CertainLoansAcquiredInTransferNotAccountedForAsDebtSecuritiesChangesToExpectedCurrentPeriodRecoveries
-15835000 usd
ecpg Certain Loans Acquired In Transfer Not Accounted For As Debt Securities Changes To Expected Current Period Recoveries
CertainLoansAcquiredInTransferNotAccountedForAsDebtSecuritiesChangesToExpectedCurrentPeriodRecoveries
56287000 usd
CY2023Q2 ecpg Certain Loans Acquired In Transfer Not Accounted For As Debt Securities Changes To Expected Future Period Recoveries
CertainLoansAcquiredInTransferNotAccountedForAsDebtSecuritiesChangesToExpectedFuturePeriodRecoveries
-3009000 usd
CY2022Q2 ecpg Certain Loans Acquired In Transfer Not Accounted For As Debt Securities Changes To Expected Future Period Recoveries
CertainLoansAcquiredInTransferNotAccountedForAsDebtSecuritiesChangesToExpectedFuturePeriodRecoveries
15215000 usd
ecpg Certain Loans Acquired In Transfer Not Accounted For As Debt Securities Changes To Expected Future Period Recoveries
CertainLoansAcquiredInTransferNotAccountedForAsDebtSecuritiesChangesToExpectedFuturePeriodRecoveries
2848000 usd
ecpg Certain Loans Acquired In Transfer Not Accounted For As Debt Securities Changes To Expected Future Period Recoveries
CertainLoansAcquiredInTransferNotAccountedForAsDebtSecuritiesChangesToExpectedFuturePeriodRecoveries
136086000 usd
CY2023Q2 ecpg Certain Loans Acquired In Transfer Not Accounted For As Debt Securities Changes In Expected Recoveries
CertainLoansAcquiredInTransferNotAccountedForAsDebtSecuritiesChangesInExpectedRecoveries
-3486000 usd
CY2022Q2 ecpg Certain Loans Acquired In Transfer Not Accounted For As Debt Securities Changes In Expected Recoveries
CertainLoansAcquiredInTransferNotAccountedForAsDebtSecuritiesChangesInExpectedRecoveries
25150000 usd
ecpg Certain Loans Acquired In Transfer Not Accounted For As Debt Securities Changes In Expected Recoveries
CertainLoansAcquiredInTransferNotAccountedForAsDebtSecuritiesChangesInExpectedRecoveries
-12987000 usd
ecpg Certain Loans Acquired In Transfer Not Accounted For As Debt Securities Changes In Expected Recoveries
CertainLoansAcquiredInTransferNotAccountedForAsDebtSecuritiesChangesInExpectedRecoveries
192373000 usd
CY2023Q2 ecpg Certain Loans Acquired In Transfer Not Accounted For As Debt Securities Changes To Expected Future Period Recoveries
CertainLoansAcquiredInTransferNotAccountedForAsDebtSecuritiesChangesToExpectedFuturePeriodRecoveries
-3000000 usd
ecpg Certain Loans Acquired In Transfer Not Accounted For As Debt Securities Changes To Expected Future Period Recoveries
CertainLoansAcquiredInTransferNotAccountedForAsDebtSecuritiesChangesToExpectedFuturePeriodRecoveries
2800000 usd
CY2023Q2 us-gaap Assets Held For Sale Not Part Of Disposal Group Other
AssetsHeldForSaleNotPartOfDisposalGroupOther
82150000 usd
CY2022Q4 us-gaap Assets Held For Sale Not Part Of Disposal Group Other
AssetsHeldForSaleNotPartOfDisposalGroupOther
68242000 usd
CY2023Q2 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
71386000 usd
CY2022Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
70074000 usd
CY2023Q2 us-gaap Income Tax Receivable
IncomeTaxReceivable
47711000 usd
CY2022Q4 us-gaap Income Tax Receivable
IncomeTaxReceivable
18259000 usd
CY2023Q2 us-gaap Interest Rate Derivative Assets At Fair Value
InterestRateDerivativeAssetsAtFairValue
34957000 usd
CY2022Q4 us-gaap Interest Rate Derivative Assets At Fair Value
InterestRateDerivativeAssetsAtFairValue
36807000 usd
CY2023Q2 us-gaap Prepaid Expense Current And Noncurrent
PrepaidExpenseCurrentAndNoncurrent
31788000 usd
CY2022Q4 us-gaap Prepaid Expense Current And Noncurrent
PrepaidExpenseCurrentAndNoncurrent
30376000 usd
CY2023Q2 us-gaap Intangible Assets Net Including Goodwill
IntangibleAssetsNetIncludingGoodwill
20746000 usd
CY2022Q4 us-gaap Intangible Assets Net Including Goodwill
IntangibleAssetsNetIncludingGoodwill
22112000 usd
CY2023Q2 us-gaap Deferred Income Tax Assets Net
DeferredIncomeTaxAssetsNet
17872000 usd
CY2022Q4 us-gaap Deferred Income Tax Assets Net
DeferredIncomeTaxAssetsNet
18069000 usd
CY2023Q2 ecpg Service Fee Receivable
ServiceFeeReceivable
13253000 usd
CY2022Q4 ecpg Service Fee Receivable
ServiceFeeReceivable
16094000 usd
CY2023Q2 us-gaap Other Assets Miscellaneous
OtherAssetsMiscellaneous
81436000 usd
CY2022Q4 us-gaap Other Assets Miscellaneous
OtherAssetsMiscellaneous
61040000 usd
CY2023Q2 us-gaap Other Assets
OtherAssets
401299000 usd
CY2022Q4 us-gaap Other Assets
OtherAssets
341073000 usd
CY2023Q2 us-gaap Finance Lease Liability
FinanceLeaseLiability
3930000 usd
CY2022Q4 us-gaap Finance Lease Liability
FinanceLeaseLiability
5675000 usd
CY2023Q2 ecpg Long Term Debt And Lease Obligations Including Current Maturities Gross Of Debt Issuances Costs
LongTermDebtAndLeaseObligationsIncludingCurrentMaturitiesGrossOfDebtIssuancesCosts
3245683000 usd
CY2022Q4 ecpg Long Term Debt And Lease Obligations Including Current Maturities Gross Of Debt Issuances Costs
LongTermDebtAndLeaseObligationsIncludingCurrentMaturitiesGrossOfDebtIssuancesCosts
2941225000 usd
CY2023Q2 us-gaap Debt Instrument Unamortized Discount Premium And Debt Issuance Costs Net
DebtInstrumentUnamortizedDiscountPremiumAndDebtIssuanceCostsNet
42258000 usd
CY2022Q4 us-gaap Debt Instrument Unamortized Discount Premium And Debt Issuance Costs Net
DebtInstrumentUnamortizedDiscountPremiumAndDebtIssuanceCostsNet
42404000 usd
CY2023Q2 us-gaap Debt And Capital Lease Obligations
DebtAndCapitalLeaseObligations
3203425000 usd
CY2022Q4 us-gaap Debt And Capital Lease Obligations
DebtAndCapitalLeaseObligations
2898821000 usd
CY2023Q2 us-gaap Senior Notes
SeniorNotes
1532098000 usd
CY2022Q4 us-gaap Senior Notes
SeniorNotes
1485888000 usd
CY2023Q2 us-gaap Debt Instrument Face Amount
DebtInstrumentFaceAmount
347655000 usd
CY2022Q4 us-gaap Debt Instrument Face Amount
DebtInstrumentFaceAmount
272500000 usd
CY2023Q2 ecpg Number Of Hedge Programs
NumberOfHedgePrograms
2 hedgeprogram
CY2023Q2 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.276
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.268
CY2022Q2 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.278
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.249
CY2023Q2 ecpg Unrecognized Tax Benefits State Income Taxes Accrued
UnrecognizedTaxBenefitsStateIncomeTaxesAccrued
2500000 usd
CY2023Q2 us-gaap Litigation Reserve
LitigationReserve
0 usd
CY2023Q2 us-gaap Purchase Commitment Remaining Minimum Amount Committed
PurchaseCommitmentRemainingMinimumAmountCommitted
393000000 usd
us-gaap Number Of Reportable Segments
NumberOfReportableSegments
1 segment
CY2023Q2 ecpg Revenues Adjustedby Net Allowances
RevenuesAdjustedbyNetAllowances
323044000 usd
CY2022Q2 ecpg Revenues Adjustedby Net Allowances
RevenuesAdjustedbyNetAllowances
356917000 usd
ecpg Revenues Adjustedby Net Allowances
RevenuesAdjustedbyNetAllowances
635674000 usd
ecpg Revenues Adjustedby Net Allowances
RevenuesAdjustedbyNetAllowances
856599000 usd
CY2023Q1 us-gaap Goodwill
Goodwill
834174000 usd
CY2022Q1 us-gaap Goodwill
Goodwill
876541000 usd
CY2022Q4 us-gaap Goodwill
Goodwill
821214000 usd
CY2021Q4 us-gaap Goodwill
Goodwill
897795000 usd
CY2023Q2 us-gaap Goodwill Foreign Currency Translation Gain Loss
GoodwillForeignCurrencyTranslationGainLoss
18022000 usd
CY2022Q2 us-gaap Goodwill Foreign Currency Translation Gain Loss
GoodwillForeignCurrencyTranslationGainLoss
-52331000 usd
us-gaap Goodwill Foreign Currency Translation Gain Loss
GoodwillForeignCurrencyTranslationGainLoss
30982000 usd
us-gaap Goodwill Foreign Currency Translation Gain Loss
GoodwillForeignCurrencyTranslationGainLoss
-73585000 usd
CY2022Q2 us-gaap Goodwill
Goodwill
824210000 usd
CY2023Q2 us-gaap Goodwill
Goodwill
852196000 usd
CY2022Q2 us-gaap Goodwill
Goodwill
824210000 usd
CY2023Q2 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
48597000 usd
CY2023Q2 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
27851000 usd
CY2023Q2 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
20746000 usd
CY2022Q4 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
46407000 usd
CY2022Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
24295000 usd
CY2022Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
22112000 usd

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