10-Q Filing

ENCORE CAPITAL GROUP INC CIK: 1084961 Q1 2012

Filing Information

Form Type	10-Q
Accession Number	`0001193125-12-222079`
Period End Date	20120331
Filing Date	20120509
Fiscal Year	2012
Fiscal Period	Q1
XBRL Instance	ecpg-20120331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 62 Income Statement 53 Cash Flow Statement 67 Stockholders Equity 10

Balance Sheet 62 line items

Line Item	Tag	Value	Unit	Period
Convertible preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Convertible preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$10.90M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$8.05M	USD	Point-in-time
Convertible preferred stock, shares authorized	`PreferredStockSharesAuthorized`	5,000.00	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$15.45M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$22.38M	USD	Point-in-time
Convertible preferred stock, shares authorized	`PreferredStockSharesAuthorized`	5,000.00	shares	Point-in-time
Accounts receivable, net	`AccountsReceivableNet`	$3.62M	USD	Point-in-time
Convertible preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Convertible preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Accounts receivable, net	`AccountsReceivableNet`	$3.27M	USD	Point-in-time
Investment in receivable portfolios, net	`CertainLoansAcquiredInTransferNotAccountedForAsDebtSecuritiesCarryingAmountNet`	$716.45M	USD	Point-in-time
Investment in receivable portfolios, net	`CertainLoansAcquiredInTransferNotAccountedForAsDebtSecuritiesCarryingAmountNet`	$741.58M	USD	Point-in-time
Convertible preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Convertible preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Deferred court costs, net	`DeferredCourtCostsNet`	$39.84M	USD	Point-in-time
Deferred court costs, net	`DeferredCourtCostsNet`	$38.51M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	50,000.00	shares	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$19.60M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	50,000.00	shares	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$17.80M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	24.52M	shares	Point-in-time
Other assets	`OtherAssets`	$11.84M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	24.70M	shares	Point-in-time
Other assets	`OtherAssets`	$11.97M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	24.52M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	24.70M	shares	Point-in-time
Goodwill	`Goodwill`	$6.05M	USD	Point-in-time
Goodwill	`Goodwill`	$15.98M	USD	Point-in-time
Identifiable intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$462.00K	USD	Point-in-time
Total assets	`Assets`	$812.48M	USD	Point-in-time
Total assets	`Assets`	$837.97M	USD	Point-in-time
Accounts payable and accrued liabilities	`AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent`	$31.16M	USD	Point-in-time
Accounts payable and accrued liabilities	`AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent`	$29.63M	USD	Point-in-time
Income tax payable	`AccruedIncomeTaxes`	$2.08M	USD	Point-in-time
Deferred tax liabilities, net	`DeferredIncomeTaxLiabilities`	$15.71M	USD	Point-in-time
Deferred tax liabilities, net	`DeferredIncomeTaxLiabilities`	$16.33M	USD	Point-in-time
Debt	`DebtAndCapitalLeaseObligations`	$398.25M	USD	Point-in-time
Debt	`DebtAndCapitalLeaseObligations`	$388.95M	USD	Point-in-time
Other liabilities	`OtherLiabilities`	$6.66M	USD	Point-in-time
Other liabilities	`OtherLiabilities`	$5.30M	USD	Point-in-time
Total liabilities	`Liabilities`	$440.95M	USD	Point-in-time
Total liabilities	`Liabilities`	$453.12M	USD	Point-in-time
Commitments and contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Convertible preferred stock, $.01 par value, 5,000 shares authorized, no shares issued and outstanding	`PreferredStockValue`	-	USD	Point-in-time
Convertible preferred stock, $.01 par value, 5,000 shares authorized, no shares issued and outstanding	`PreferredStockValue`	-	USD	Point-in-time
Common stock, $.01 par value, 50,000 shares authorized, 24,696 shares and 24,520 shares issued and outstanding as of March 31, 2012 and December 31, 2011, respectively	`CommonStockValue`	$247.00K	USD	Point-in-time
Common stock, $.01 par value, 50,000 shares authorized, 24,696 shares and 24,520 shares issued and outstanding as of March 31, 2012 and December 31, 2011, respectively	`CommonStockValue`	$245.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$124.64M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$123.41M	USD	Point-in-time
Accumulated earnings	`RetainedEarningsAccumulatedDeficit`	$261.26M	USD	Point-in-time
Accumulated earnings	`RetainedEarningsAccumulatedDeficit`	$249.85M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-1.97M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-1.29M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$384.86M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$371.54M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$837.97M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$812.48M	USD	Point-in-time

Income Statement 53 line items

Line Item	Tag	Value	Unit	Period
Revenue from receivable portfolios, net	`CertainLoansAcquiredInTransferNotAccountedForAsDebtSecuritiesAccretableYieldAccretion`	$126.41M	USD	1 Quarter
Revenue from receivable portfolios, net	`CertainLoansAcquiredInTransferNotAccountedForAsDebtSecuritiesAccretableYieldAccretion`	$105.33M	USD	1 Quarter
Servicing fees and other related revenue	`FeesAndCommissionsOther`	$4.98M	USD	1 Quarter
Servicing fees and other related revenue	`FeesAndCommissionsOther`	$3.82M	USD	1 Quarter
Total revenues	`Revenues`	$110.30M	USD	1 Quarter
Total revenues	`Revenues`	$130.22M	USD	1 Quarter
Salaries and employee benefits (excluding stock-based compensation expense)	`SalariesAndEmployeeBenefitsExpenseExcludingStockBasedCompensationExpense`	$19.04M	USD	1 Quarter
Salaries and employee benefits (excluding stock-based compensation expense)	`SalariesAndEmployeeBenefitsExpenseExcludingStockBasedCompensationExpense`	$23.11M	USD	1 Quarter
Stock-based compensation expense	`ShareBasedCompensation`	$1.76M	USD	1 Quarter
Stock-based compensation expense	`ShareBasedCompensation`	$2.27M	USD	1 Quarter
Cost of legal collections	`CostOfLegalCollections`	$36.51M	USD	1 Quarter
Cost of legal collections	`CostOfLegalCollections`	$38.63M	USD	1 Quarter
Other operating expenses	`OtherCostAndExpenseOperating`	$10.10M	USD	1 Quarter
Other operating expenses	`OtherCostAndExpenseOperating`	$12.41M	USD	1 Quarter
Collection agency commissions	`CollectionAgencyCommissions`	$3.96M	USD	1 Quarter
Collection agency commissions	`CollectionAgencyCommissions`	$3.91M	USD	1 Quarter
General and administrative expenses	`GeneralAndAdministrativeExpense`	$14.13M	USD	1 Quarter
General and administrative expenses	`GeneralAndAdministrativeExpense`	$10.17M	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$1.05M	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$1.36M	USD	1 Quarter
Impairment charge for goodwill and identifiable intangible assets	`AssetImpairmentCharges`	$10.35M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$106.22M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$82.55M	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$27.76M	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$24.00M	USD	1 Quarter
Interest expense	`InterestExpense`	$5.59M	USD	1 Quarter
Interest expense	`InterestExpense`	$5.51M	USD	1 Quarter
Other income	`OtherNonoperatingIncomeExpense`	$267.00K	USD	1 Quarter
Other income	`OtherNonoperatingIncomeExpense`	$116.00K	USD	1 Quarter
Total other expenses	`NonoperatingIncomeExpense`	$-5.48M	USD	1 Quarter
Total other expenses	`NonoperatingIncomeExpense`	$-5.25M	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$22.28M	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$18.75M	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$8.60M	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$7.34M	USD	1 Quarter
Net income	`NetIncomeLoss`	$11.41M	USD	1 Quarter
Net income	`NetIncomeLoss`	$13.68M	USD	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	24.26M	shares	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	24.78M	shares	1 Quarter
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	25.45M	shares	1 Quarter
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	25.74M	shares	1 Quarter
Basic	`EarningsPerShareBasic`	$0.46	USD	1 Quarter
Basic	`EarningsPerShareBasic`	$0.56	USD	1 Quarter
Diluted	`EarningsPerShareDiluted`	$0.54	USD	1 Quarter
Diluted	`EarningsPerShareDiluted`	$0.44	USD	1 Quarter
Unrealized gain on derivative instruments	`OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodBeforeTax`	$836.00K	USD	1 Quarter
Unrealized gain on derivative instruments	`OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodBeforeTax`	$1.12M	USD	1 Quarter
Income tax provision related to unrealized gain on derivative instruments	`OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodTax`	$329.00K	USD	1 Quarter
Income tax provision related to unrealized gain on derivative instruments	`OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodTax`	$440.00K	USD	1 Quarter
Other comprehensive income, net of tax	`OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent`	$507.00K	USD	1 Quarter
Other comprehensive income, net of tax	`OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent`	$682.00K	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$12.09M	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$14.19M	USD	1 Quarter

Cash Flow Statement 67 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$11.41M	USD	1 Quarter
Net income	`NetIncomeLoss`	$13.68M	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$1.05M	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$1.36M	USD	1 Quarter
Impairment charge for goodwill and identifiable intangible assets	`AssetImpairmentCharges`	$10.35M	USD	1 Quarter
Amortization of loan costs	`AmortizationOfFinancingCostsAndDiscounts`	$440.00K	USD	1 Quarter
Amortization of loan costs	`AmortizationOfFinancingCostsAndDiscounts`	$466.00K	USD	1 Quarter
Stock-based compensation expense	`ShareBasedCompensation`	$1.76M	USD	1 Quarter
Stock-based compensation expense	`ShareBasedCompensation`	$2.27M	USD	1 Quarter
Deferred income tax expense (benefit)	`DeferredIncomeTaxExpenseBenefit`	$623.00K	USD	1 Quarter
Deferred income tax expense (benefit)	`DeferredIncomeTaxExpenseBenefit`	$-58.00K	USD	1 Quarter
Excess tax benefit from stock-based payment arrangements	`ExcessTaxBenefitFromShareBasedCompensationOperatingActivities`	$1.34M	USD	1 Quarter
Excess tax benefit from stock-based payment arrangements	`ExcessTaxBenefitFromShareBasedCompensationOperatingActivities`	$1.07M	USD	1 Quarter
Provision for allowances on receivable portfolios, net	`IncreaseDecreaseInCertainLoansAcquiredNotAccountedForAsDebtSecuritiesProvisionForLoanLosses`	$-373.00K	USD	1 Quarter
Provision for allowances on receivable portfolios, net	`IncreaseDecreaseInCertainLoansAcquiredNotAccountedForAsDebtSecuritiesProvisionForLoanLosses`	$-5.50M	USD	1 Quarter
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	$326.00K	USD	1 Quarter
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	$1.82M	USD	1 Quarter
Deferred court costs	`IncreaseDecreaseInDeferredCharges`	$2.13M	USD	1 Quarter
Deferred court costs	`IncreaseDecreaseInDeferredCharges`	$1.33M	USD	1 Quarter
Prepaid income tax and income taxes payable	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$8.44M	USD	1 Quarter
Prepaid income tax and income taxes payable	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$2.13M	USD	1 Quarter
Accounts payable, accrued liabilities and other liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$853.00K	USD	1 Quarter
Accounts payable, accrued liabilities and other liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-450.00K	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$27.10M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$25.07M	USD	1 Quarter
Purchases of receivable portfolios	`PaymentsToAcquireFinanceReceivables`	$90.67M	USD	1 Quarter
Purchases of receivable portfolios	`PaymentsToAcquireFinanceReceivables`	$130.46M	USD	1 Quarter
Collections applied to investment in receivable portfolios, net	`ProceedsFromSaleAndCollectionOfFinanceReceivables`	$80.21M	USD	1 Quarter
Collections applied to investment in receivable portfolios, net	`ProceedsFromSaleAndCollectionOfFinanceReceivables`	$104.23M	USD	1 Quarter
Proceeds from put-backs of receivable portfolios	`ProceedsFromPutBacksOfReceivablePortfolios`	$734.00K	USD	1 Quarter
Proceeds from put-backs of receivable portfolios	`ProceedsFromPutBacksOfReceivablePortfolios`	$900.00K	USD	1 Quarter
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$630.00K	USD	1 Quarter
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$1.55M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-10.19M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-27.05M	USD	1 Quarter
Payment of loan costs	`PaymentsOfFinancingCosts`	$734.00K	USD	1 Quarter
Proceeds from senior secured notes	`ProceedsFromIssuanceOfSeniorLongTermDebt`	$25.00M	USD	1 Quarter
Proceeds from revolving credit facility	`ProceedsFromIssuanceOfLongTermDebt`	$19.00M	USD	1 Quarter
Proceeds from revolving credit facility	`ProceedsFromIssuanceOfLongTermDebt`	$43.50M	USD	1 Quarter
Repayment of revolving credit facility	`RepaymentsOfLongTermDebt`	$46.00M	USD	1 Quarter
Repayment of revolving credit facility	`RepaymentsOfLongTermDebt`	$34.50M	USD	1 Quarter
Proceeds from exercise of stock options	`ProceedsFromStockOptionsExercised`	$297.00K	USD	1 Quarter
Proceeds from exercise of stock options	`ProceedsFromStockOptionsExercised`	$1.06M	USD	1 Quarter
Taxes paid related to net share settlement of equity awards	`PaymentsRelatedToTaxWithholdingForShareBasedCompensation`	$1.44M	USD	1 Quarter
Taxes paid related to net share settlement of equity awards	`PaymentsRelatedToTaxWithholdingForShareBasedCompensation`	$2.09M	USD	1 Quarter
Excess tax benefit from stock-based payment arrangements	`ExcessTaxBenefitFromShareBasedCompensationFinancingActivities`	$1.34M	USD	1 Quarter
Excess tax benefit from stock-based payment arrangements	`ExcessTaxBenefitFromShareBasedCompensationFinancingActivities`	$1.07M	USD	1 Quarter
Repayment of capital lease obligations	`RepaymentsOfLongTermCapitalLeaseObligations`	$877.00K	USD	1 Quarter
Repayment of capital lease obligations	`RepaymentsOfLongTermCapitalLeaseObligations`	$1.69M	USD	1 Quarter
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$7.35M	USD	1 Quarter
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-3.41M	USD	1 Quarter
Net increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$7.40M	USD	1 Quarter
Net increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$11.47M	USD	1 Quarter
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$10.90M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$8.05M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$15.45M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$22.38M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$10.90M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$8.05M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$15.45M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$22.38M	USD	Point-in-time
Cash paid for interest	`InterestPaid`	$5.00M	USD	1 Quarter
Cash paid for interest	`InterestPaid`	$5.12M	USD	1 Quarter
Cash paid for income taxes	`IncomeTaxesPaid`	$166.00K	USD	1 Quarter
Cash paid for income taxes	`IncomeTaxesPaid`	$4.08M	USD	1 Quarter
Fixed assets acquired through capital lease	`NoncashOrPartNoncashAcquisitionFixedAssetsAcquired1`	$1.56M	USD	1 Quarter
Fixed assets acquired through capital lease	`NoncashOrPartNoncashAcquisitionFixedAssetsAcquired1`	$371.00K	USD	1 Quarter

Stockholders Equity 10 line items

Line Item	Tag	Value	Unit	Period
Balance	`StockholdersEquity`	$384.86M	USD	Point-in-time
Balance	`StockholdersEquity`	$371.54M	USD	Point-in-time
Net income	`NetIncomeLoss`	$11.41M	USD	1 Quarter
Net income	`NetIncomeLoss`	$13.68M	USD	1 Quarter
Unrealized gain on derivative instruments, net of tax	`OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodNetOfTax`	$682.00K	USD	1 Quarter
Exercise of stock options and issuance of share-based awards, net of shares withheld for employee taxes	`StockIssuedDuringPeriodValueStockOptionsExercisedIncludesRestrictedStockUnitsNetOfTaxWithholdings`	$-2.02M	USD	1 Quarter
Stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$2.27M	USD	1 Quarter
Tax benefit related to stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalTaxEffectFromShareBasedCompensation`	$984.00K	USD	1 Quarter
Balance	`StockholdersEquity`	$384.86M	USD	Point-in-time
Balance	`StockholdersEquity`	$371.54M	USD	Point-in-time

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.