Exhibit 99.2
ENCORE CAPITAL GROUP, INC.
Supplemental Financial Information
Reconciliation of GAAP Net Income to
Net Income Excluding One-Time Benefits and Charges
(In Thousands)
Quarter Ended March 31, | ||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
2004 | 2003 | 2002 | 2001 | |||||||||||
GAAP net income (loss), as reported | $ | 6,016 | $ | 8,166 | $ | 233 | $ | (3,743 | ) | |||||
Gain on settlement of litigation1 | - | (4,376 | ) | - | - | |||||||||
Net income (loss), excluding one-time benefits | $ | 6,016 | $ | 3,790 | $ | 233 | $ | (3,743 | ) | |||||
Quarter Ended June 30, | ||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
2004 | 2003 | 2002 | 2001 | |||||||||||
GAAP net income (loss), as reported | $ | 5,595 | $ | 3,309 | $ | 692 | $ | (3,880 | ) | |||||
Quarter Ended September 30, | |||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|
2003 | 2002 | 2001 | |||||||||
GAAP net income (loss), as reported | $ | 3,104 | $ | 2,521 | $ | (1,045 | ) | ||||
Quarter Ended December 31, | |||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|
2003 | 2002 | 2001 | |||||||||
GAAP net income (loss), as reported | $ | 3,841 | $ | 10,343 | $ | (2,197 | ) | ||||
Write off of deferred costs2 | 528 | - | - | ||||||||
Benefit from restoration of net deferred tax assets3 | - | (8,830 | ) | - | |||||||
Net income (loss), excluding one-time benefits | $ | 4,369 | $ | 1,513 | $ | (2,197 | ) | ||||
1This is the result of a net after-tax gain of $4.4 million associated with a litigation settlement during the first quarter of 2003. |
2This is the result of the after-tax write-off of $0.5 million in deferred loans costs and a debt discount associated with the early retirement of our Senior Notes during the fourth quarter of 2003. |
3This is the result of a change in the valuation allowance associated with our net tax assets during the fourth quarter of 2002, which resulted in the recognition of a current tax benefit in the amount of $8.8 million. |