PRA (PRAA) 10-K 28 Feb 22 2021 FY Annual report Financial data

Cover Page

Cover Page - USD ($)	12 Months Ended
	Dec. 31, 2021	Feb. 23, 2022	Jun. 30, 2021
Cover [Abstract]
Document Type	10-K
Document Annual Report	true
Document Period End Date	Dec. 31, 2021
Document Transition Report	false
Entity File Number	000-50058
Entity Registrant Name	PRA Group, Inc.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	75-3078675
Entity Address, Address Line One	120 Corporate Boulevard
Entity Address, City or Town	Norfolk
Entity Address, State or Province	VA
Entity Address, Postal Zip Code	23502
City Area Code	888
Local Phone Number	772-7326
Title of 12(b) Security	Common Stock, $0.01 par value per share
Trading Symbol	PRAA
Security Exchange Name	NASDAQ
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Public Float			$ 1,730,201,484
Entity Common Stock, Shares Outstanding		40,685,522
Documents Incorporated by Reference	Portions of the Registrant's definitive Proxy Statement for its 2022 Annual Meeting of Stockholders are incorporated by reference into Part III of this Form 10-K.
Amendment Flag	false
Entity Central Index Key	0001185348
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	FY
Current Fiscal Year End Date	--12-31
ICFR Auditor Attestation Flag	true

Audit Information

Audit Information	12 Months Ended
	Dec. 31, 2021
Auditor [Line Items]
Auditor Name	KPMG LLP
Auditor Location	Norfolk, VA
Auditor Firm ID	185

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Assets
Cash and cash equivalents	$ 87,584	$ 108,613
Investments	92,977	55,759
Finance receivables, net		3,514,788
Income taxes receivable	41,146	21,928
Deferred tax assets, net	67,760	83,205
Operating lease, right-of-use asset	56,713	52,951
Property and equipment, net	54,513	58,356
Goodwill	480,263	492,989
Other assets	57,002	64,472
Total assets	4,366,243	4,453,061
Liabilities:
Accounts payable	3,821	5,294
Accrued expenses	127,802	97,320
Income taxes payable	19,276	29,692
Deferred tax liabilities, net	36,630	40,867
Operating lease, liability	61,188	57,348
Interest-bearing deposits		132,739
Borrowings	2,608,714	2,661,289
Other Liabilities	59,352	54,986
Total liabilities	3,041,406	3,079,535
Equity:
Preferred stock, $0.01 par value, 2,000 shares authorized, no shares issued and outstanding	0	0
Common stock, $0.01 par value, 100,000 shares authorized, 41,008 shares issued and outstanding at December 31, 2021; 100,000 shares authorized, 45,585 shares issued and outstanding at December 31, 2020	410	456
Additional paid-in capital	0	75,282
Retained earnings	1,552,845	1,511,970
Accumulated other comprehensive loss	(266,909)	(245,791)
Total stockholders' equity - PRA Group, Inc.	1,286,346	1,341,917
Noncontrolling interests	38,491	31,609
Total equity	1,324,837	1,373,526
Total liabilities and equity	$ 4,366,243	$ 4,453,061

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - $ / shares	Dec. 31, 2021	Dec. 31, 2020
Statement of Financial Position [Abstract]
Preferred stock, par value (USD per share)	$ 0.01
Preferred stock, shares authorized	2,000,000
Preferred stock, shares issued	0
Preferred stock, shares outstanding	0
Common stock, par value (USD per share)	$ 0.01	$ 0.01
Common stock, shares authorized	100,000,000	100,000,000
Common stock, shares issued	41,008,000	45,585,000
Common stock, shares outstanding	41,008,000	45,585,000

Consolidated Income Statements

Consolidated Income Statements - USD ($) shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Revenues:
Portfolio income	$ 875,327	$ 984,036	$ 0
Changes in estimated recoveries	197,904	69,297	0
Total portfolio revenue	1,073,231	1,053,333	0
Income recognized on finance receivables	0	0	998,361
Fee income	14,699	9,748	15,769
Other revenue	7,802	2,333	2,951
Total revenues	1,095,732	1,065,414	1,017,081
Net allowance charges	0	0	(24,025)
Operating expenses:
Compensation and employee services	301,981	295,150	310,441
Legal collection fees	47,206	53,758	55,261
Legal collection costs	78,330	101,635	134,156
Agency fees	63,140	56,418	55,812
Outside fees and services	92,615	84,087	63,513
Communication	42,755	40,801	44,057
Rent and occupancy	18,376	17,973	17,854
Depreciation and amortization	15,256	18,465	17,464
Other operating expenses	61,077	47,426	46,811
Total operating expenses	720,736	715,713	745,369
Income from operations	374,996	349,701	247,687
Other income and (expense):
Interest expense, net	(124,143)	(141,712)	(141,918)
Foreign exchange (loss)/gain	(809)	2,005	11,954
Other	282	(1,049)	(364)
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest, Total	250,326	208,945	117,359
Income tax expense	54,817	41,203	19,680
Net income	195,509	167,742	97,679
Adjustment for net income attributable to noncontrolling interests	12,351	18,403	11,521
Net income attributable to PRA Group, Inc.	$ 183,158	$ 149,339	$ 86,158
Net income per share attributable to PRA Group, Inc.:
Basic (USD per share)	$ 4.07	$ 3.28	$ 1.90
Diluted (USD per share)	$ 4.04	$ 3.26	$ 1.89
Weighted average number of shares outstanding:
Basic (shares)	44,960	45,540	45,387
Diluted (shares)	45,330	45,860	45,577

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Statement of Comprehensive Income [Abstract]
Net income	$ 195,509	$ 167,742	$ 97,679
Currency translation adjustments	(56,219)	20,056	(6,359)
Cash flow hedges	27,978	(20,261)	(13,132)
Debt securities available-for-sale	(348)	171	39
Other comprehensive loss	(28,589)	(34)	(19,452)
Total comprehensive income	166,920	167,708	78,227
Less comprehensive income attributable to noncontrolling interests	4,880	3,141	10,978
Comprehensive income attributable to PRA Group, Inc.	$ 162,040	$ 164,567	$ 67,249

Consolidated Statements of Chan

Consolidated Statements of Changes in Equity - USD ($) $ in Thousands	Total	Cumulative Effect, Period of Adoption, Adjusted Balance	Cumulative Effect, Period of Adoption, Adjustment [Member]	Common Stock	Common StockCumulative Effect, Period of Adoption, Adjusted Balance	Additional Paid-in Capital	Additional Paid-in CapitalCumulative Effect, Period of Adoption, Adjusted Balance	Additional Paid-in CapitalCumulative Effect, Period of Adoption, Adjustment [Member]	Retained Earnings	Retained EarningsCumulative Effect, Period of Adoption, Adjusted Balance	Retained EarningsCumulative Effect, Period of Adoption, Adjustment [Member]	Accumulated  Other Comprehensive (Loss)	Accumulated  Other Comprehensive (Loss)Cumulative Effect, Period of Adoption, Adjusted Balance	Noncontrolling Interests	Noncontrolling InterestsCumulative Effect, Period of Adoption, Adjusted Balance
Beginning Balance, shares at Dec. 31, 2018					45,304,000
Beginning balance at Dec. 31, 2018		$ 1,123,969			$ 453		$ 60,303			$ 1,276,473		$ (242,109)	$ (242,109)		$ 28,849
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	$ 97,679								$ 86,158					$ 11,521
Currency translation adjustment	(6,359)											(5,816)		(543)
Cash flow hedges	(13,132)											(13,132)
Debt securities available-for-sale	39											39
Distributions to noncontrolling interest	(6,877)													(6,877)
Contributions from noncontrolling interests	24,675													24,675
Vesting of nonvested shares, shares				112,000
Vesting of restricted stock				$ 1
Share-based compensation expense	0					$ (1)
APIC, Share-based Payment Arrangement, Recognition and Exercise	10,717					10,717
Employee stock relinquished for payment of taxes	(1,609)					(1,609)
Other	2,089					2,089
Ending Balance, shares at Dec. 31, 2019				45,416,000
Ending balance at Dec. 31, 2019	1,227,013			$ 454		67,321			1,362,631			(261,018)		57,625
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	167,742								149,339					18,403
Currency translation adjustment	20,056											35,317		(15,261)
Cash flow hedges	(20,261)											(20,261)
Debt securities available-for-sale	171											171
Distributions to noncontrolling interest	(30,276)													(30,276)
Contributions from noncontrolling interests	1,118													1,118
Vesting of nonvested shares, shares				169,000
Vesting of restricted stock	0			$ 2		(2)
Share-based compensation expense	14,387					14,387
Employee stock relinquished for payment of taxes	(3,299)					(3,299)
Other	$ (3,125)					(3,125)
Ending Balance, shares at Dec. 31, 2020	45,585,000			45,585,000	45,585,000
Ending balance at Dec. 31, 2020	$ 1,373,526	$ 1,358,837	$ (14,689)	$ 456	$ 456	75,282	$ 48,585	$ (26,697)	1,511,970	$ 1,523,978	$ 12,008	(245,791)	$ (245,791)	31,609	$ 31,609
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	195,509								183,158					12,351
Currency translation adjustment	(56,219)											(48,748)		(7,471)
Cash flow hedges	27,978											27,978
Debt securities available-for-sale	(348)											(348)
Distributions to noncontrolling interest	(21,411)													(21,411)
Contributions from noncontrolling interests	23,413													23,413
Vesting of nonvested shares, shares				264,000
Vesting of restricted stock	0			$ 2		(2)
Stock Repurchased and Retired During Period, Value	(212,870)			$ (48)		(58,531)			(154,291)
Number of shares repurchased and retired				(4,841,000)
Share-based compensation expense	15,940					15,940
Employee stock relinquished for payment of taxes	$ (5,992)					(5,992)
Ending Balance, shares at Dec. 31, 2021	41,008,000			41,008,000
Ending balance at Dec. 31, 2021	$ 1,324,837			$ 410		$ 0			$ 1,552,845			$ (266,909)		$ 38,491

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Cash flows from operating activities:
Net income	$ 195,509	$ 167,742	$ 97,679
Adjustments to reconcile net income to net cash provided by operating activities:
Share-based compensation expense	15,940	14,387	10,717
Depreciation and amortization	15,256	18,465	17,464
Amortization of debt discount and issuance costs	9,508	21,063	22,987
Changes in expected recoveries	(197,904)	(69,297)	0
Deferred income taxes	6,803	(58,503)	(37,561)
Net unrealized foreign currency transactions	29,003	15,240	(4,543)
Fair value in earnings for equity securities	(386)	977	(5,826)
Net allowance charges	0	0	24,025
Other operating activities	(211)	(893)	(234)
Changes in operating assets and liabilities:
Other assets	195	(4,644)	9,613
Accounts payable	(1,323)	914	(2,070)
Income taxes payable, net	(30,824)	22,001	(12,375)
Accrued expenses	19,586	7,767	11,632
Other liabilities	23,691	6,496	1,149
Right of use assets/lease liabilities	82	(11)	731
Net cash provided by operating activities	84,925	141,704	133,388
Cash flows from investing activities:
Purchases of property and equipment, net	(11,212)	(17,230)	(18,033)
Purchases of finance receivables	(971,708)	(903,588)	(1,231,351)
Recoveries applied to negative allowance	1,185,954	1,037,659	0
Collections applied to principal on finance receivables	0	0	842,910
Business acquisition, net of cash acquired	(647)	0	(57,610)
Proceeds from sale of subsidiaries, net	0	0	31,177
Purchase of investments	(110,915)	(45,229)	(83,291)
Proceeds from sales and maturities of investments	68,904	43,391	75,008
Net cash provided by/(used in) investing activities	160,376	115,003	(441,190)
Cash flows from financing activities:
Proceeds from lines of credit	769,903	1,290,799	1,340,700
Principal payments on lines of credit	(1,163,075)	(1,557,186)	(728,282)
Payments on convertible senior notes	0	(287,442)	0
Proceeds from senior notes	350,000	300,000	0
Proceeds from long-term debt	0	55,000	0
Principal payments on long-term debt	(10,000)	(10,000)	(313,165)
Repurchases of common stock	(200,887)	0	0
Payments of origination costs and fees	(9,479)	(17,218)	0
Tax withholdings related to share-based payments	(5,992)	(3,301)	(1,609)
Cash paid for purchase of portion of noncontrolling interest	0	0	1,255
Distributions paid to noncontrolling interest	(21,411)	(30,276)	(6,877)
Contributions from noncontrolling interest	23,413	1,118	24,675
Net increase in interest-bearing deposits	4,716	9,591	27,427
Other financing activities	0	(3,185)	(2,091)
Net cash (used in)/provided by financing activities	(262,812)	(252,100)	339,523
Effect of exchange rate on cash	(14,464)	(7,367)	(6,609)
Net (decrease)/increase in cash and cash equivalents	(31,975)	(2,760)	25,112
Cash and cash equivalents, beginning of the year	121,047	123,807	98,695
Cash and cash equivalents, end of year	89,072	121,047	123,807
Cash and cash equivalents per Consolidated Balance Sheets	87,584	108,613	119,774
Restricted cash included in Other Assets per Consolidated Balance Sheets	1,488	12,434	4,033
Total cash, cash equivalents and restricted cash	89,072	121,047	123,807
Supplemental disclosure of cash flow information:
Cash paid for interest	112,277	117,986	119,424
Cash paid for income taxes	$ 77,817	$ 80,856	$ 68,979

General and Summary of Signific

General and Summary of Significant Accounting Policies	12 Months Ended
	Dec. 31, 2021
Accounting Policies [Abstract]
General and Summary of Significant Accounting Policies	General and Summary of Significant Accounting Policies: Nature of operations: As used herein, the terms "PRA Group," the "Company," or similar terms refer to PRA Group, Inc. and its subsidiaries. PRA Group, Inc., a Delaware corporation, is a global financial and business services company with operations in the Americas, Europe and Australia. The Company's primary business is the purchase, collection and management of portfolios of nonperforming loans. The Company also provides fee-based services on class action claims recoveries and by servicing of consumer bankruptcy accounts in the United States ("U.S."). Since March 2020, the world has been, and continues to be, impacted by the novel coronavirus ("COVID-19") and its variants. The Company has taken steps to modify its operations to mitigate adverse effects where possible while conforming with various COVID-19 protocols within the countries in which it operates. These actions have allowed the Company to operate its business while minimizing disruption and complying with country-specific, federal, state and local laws, regulations and governmental actions related to the pandemic. Basis of presentation: The Consolidated Financial Statements of the Company are prepared in accordance with U.S. generally accepted accounting principles ("GAAP"). The preparation of the Consolidated Financial Statements in conformity with GAAP requires management to make estimates and assumptions that affect reported amounts and disclosures. Realized results could differ from those estimates and assumptions. Changes in accounting principles: Beginning January 1, 2021, the Company implemented Accounting Standards Update ("ASU") 2020-06 Debt-Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging-Contracts in Entity’s Own Equity (Subtopic 815-40): Accounting for Convertible Instruments and Contracts in an Entity’s Own Equity ("ASU 2020-06") using a modified retrospective method. See Convertible Notes accounting policy below for more information. Beginning January 1, 2020, the Company implemented Accounting Standards Codification ("ASC") Financial Instruments-Credit Losses ("ASC 326"), on a prospective basis. Prior to January 1, 2020, the Company's investments in finance receivables were accounted for under ASC 310-30 "Loans and Debt Securities Acquired with Deteriorated Credit Quality" ("ASC 310-30"). Reclassification of prior year presentation: Certain prior year amounts have been reclassified for consistency with the current year presentation. Other receivables and Restricted cash are now included within Other assets on the Consolidated Balance Sheets. They were previously separate line items. Consolidation : The Consolidated Financial Statements include the accounts of PRA Group and other entities in which the Company has a controlling interest. All significant intercompany accounts and transactions have been eliminated. Entities in which the Company has a controlling financial interest, through ownership of the majority of the entities’ voting equity interests, or through other contractual rights that give the Company control, consist of entities that purchase and collect on portfolios of nonperforming loans. Investments in companies in which the Company has significant influence over operating and financing decisions, but does not own a majority of the voting equity interests, are accounted for in accordance with the equity method of accounting, which requires the Company to recognize its proportionate share of the entity’s net earnings. These investments are included in Other assets, with income or loss included in Other revenue. The Company performs on-going reassessments whether changes in the facts and circumstances regarding the Company’s involvement with an entity cause the Company’s consolidation conclusion to change. Foreign currency: Assets and liabilities have been translated to the reporting currency using the exchange rates in effect on the Consolidated Balance Sheets dates. Equity accounts are translated at historical rates, except for the change in retained earnings during the year, which is the result of the income statement translation process. Revenue and expense accounts are translated using the weighted average exchange rate during the period. The cumulative translation adjustments associated with the net assets of international subsidiaries are recorded in Accumulated other comprehensive loss in the accompanying Consolidated Statements of Changes in Equity. Segments: The Company has determined that it has two operating segments that meet the aggregation criteria of ASC 280, Segment Reporting ("ASC 280"), and, therefore, it has one reportable segment, accounts receivable management. This conclusion is based on similarities among the operating segments, including economic characteristics, the nature of the products and services, the nature of the production processes, the types or classes of customers for their products and services, the methods used to distribute their products and services and the nature of the regulatory environment. Revenues and long-lived assets by geographical location: Revenue for the years ended December 31, 2021, 2020 and 2019, and long-lived assets held at December 31, 2021 and 2020, both for the U.S., the Company's country of domicile, and outside of the U.S. were (amounts in thousands): 2021 2020 2019 2021 2020 Revenues (2) Long-Lived Assets United States $ 651,991 $ 677,234 $ 673,264 $ 87,881 $ 99,271 United Kingdom 175,383 132,749 120,377 7,264 2,500 Others (1) 268,358 255,431 223,440 16,081 9,536 Total $ 1,095,732 $ 1,065,414 $ 1,017,081 $ 111,226 $ 111,307 (1) None of the countries included in "Others" comprise greater than 10% of the Company's consolidated revenues or long-lived assets. (2) Based on the Company’s financial statement information used to produce the Company's general-purpose financial statements, it is impracticable to report further breakdowns of revenues from external customers by product or service. Revenues are attributed to countries based on the location of the related operations. Long-lived assets consist of net property and equipment and right-of-use assets. The Company reports revenues earned from collection activities on finance receivables, fee-based services and investments. For additional information on the Company's investments, see Note 3 . Cash and cash equivalents: The Company considers all highly liquid investments with a maturity of three months or less when purchased to be cash equivalents. Restricted cash : Cash that is subject to legal restrictions or is unavailable for general operating purposes is classified as restricted cash and included in Other assets on the Company's Consolidated Balance Sheets. Concentrations of credit risk: Financial instruments, which potentially expose the Company to concentrations of credit risk, consist primarily of cash and cash equivalents, investments, derivative instruments and finance receivables. Accumulated other comprehensive loss: The Company records unrealized gains and losses on certain available-for-sale investments and foreign currency translation adjustments in other comprehensive income ("OCI"). Unrealized gains and losses on available for sale investments are reclassified to earnings as the gains or losses are realized upon sale of the securities. Translation gains or losses on foreign currency translation adjustments are reclassified to earnings upon the substantial sale or liquidation of investments in international operations. For the Company’s financial derivative instruments that are designated as hedging instruments, the change in fair value of the derivative is recorded in OCI. Investments: Debt Securities: The Company determines the appropriate classification of its investments in debt securities at the time of purchase and reevaluates such determinations at each balance sheet date. Debt securities are classified as held-to-maturity when the Company has the positive intent and ability to hold the securities to maturity. Held-to-maturity securities are carried at amortized cost. Debt securities for which the Company does not have the intent or ability to hold to maturity are classified as available-for-sale. Available-for-sale securities are carried at fair market value. Fair value is determined using quoted market prices. Unrealized gains and losses are included in comprehensive income and reported in stockholders' equity. The Company evaluates debt securities for impairment. When there has been a decline in fair value below the amortized cost, the Company recognizes an impairment if: (1) it has the intent to sell the security; (2) it is more likely than not that it will be required to sell the security before recovery of the amortized cost; or (3) it does not expect to recover the entire amortized cost of the security. If the Company identifies that the decline in fair value has resulted from credit losses, the credit loss component is recognized as an allowance on the Consolidated Balance Sheets with a corresponding charge to Other expense on the Consolidated Income Statements. The non-credit loss component remains in Other comprehensive loss until realized from a sale or subsequent impairment. Equity Securities: Investments in equity securities are measured at fair value with changes in unrealized gains and losses reported in earnings. Equity Method Investments: Equity investments that are not consolidated, but over which the Company exercises significant influence, are accounted for as equity method investments. Whether or not the Company exercises significant influence with respect to an investee company depends on an evaluation of several factors including, among others, representation on the investee company’s board of directors and ownership level, which is generally a 20% to 50% interest in the voting securities of the investee company. Under the equity method of accounting, an investee company’s accounts are not reflected within the Company’s Consolidated Balance Sheets and Income Statements; however, the Company’s share of the earnings or losses of the investee company is reflected in the caption ‘‘Other revenue’’ in the Consolidated Income Statements. The Company’s carrying value in an equity method investee company is reflected in the caption ‘‘Investments’’ in the Company’s Consolidated Balance Sheets. When the Company’s carrying value in an equity method investee company is reduced to zero, no further losses are recorded in the Company’s Consolidated Financial Statements unless the Company guaranteed obligations of the investee company or has committed additional funding. When the investee company subsequently reports income, the Company will not record its share of such income until it equals the amount of its share of losses not previously recognized. Finance receivables and income recognition: The Company's financial assets (or a group of financial assets) are measured at amortized cost and presented at the net amount expected to be collected. Credit quality information : The Company acquires portfolios of accounts that have experienced deterioration of credit quality between origination and the Company's acquisition of the accounts. The amount paid for a portfolio reflects the Company's determination that it is probable the Company will be unable to collect all amounts due according to an account's contractual terms. The Company accounts for the portfolios in accordance with the guidance for purchased credit deteriorated ("PCD") assets. The initial allowance for credit losses is added to the purchase price rather than recorded as a credit loss expense. The Company has established a policy to write off the amortized cost of individual assets when it deems probable that it will not collect on an individual asset. Due to the deteriorated credit quality of the individual accounts, the Company may write off the unpaid principal balance of all accounts in a portfolio at the time of acquisition. However, when the Company has an expectation of collecting cash flows at the portfolio level, a negative allowance is established for expected recoveries at an amount not to exceed the amount paid for the financial portfolios. The negative allowance is recorded as an asset and presented as Finance receivables, net on the Company's Consolidated Balance Sheets. Portfolio segments : The Company develops systematic methodologies to determine its allowance for credit losses at the portfolio segment level. The Company’s nonperforming loan portfolio segments consist of two broad categories: Core and Insolvency. The Company’s Core portfolios contain loan accounts that are in default, which were purchased at a substantial discount to face value because either the credit originator and/or other third-party collection agencies have been unsuccessful in collecting the full balance owed. The Company’s Insolvency portfolios contain loan accounts that are in default and the customer is involved in a bankruptcy or insolvency proceeding and the accounts were purchased at a substantial discount to face value. Each of the two broad portfolio segments of purchased nonperforming loan portfolios consist of large numbers of homogeneous receivables with similar risk characteristics. Effective interest rate and accounting pools : Within each portfolio segment, the Company pools accounts with similar risk characteristics that are acquired in the same year. Similar risk characteristics generally include portfolio segment and geographic region. The initial effective interest rate of the pool is established based on the purchase price and expected recoveries of each individual purchase at the purchase date. During the year of acquisition, the annual pool is aggregated, and the blended effective interest rate will adjust to reflect new acquisitions and new cash flow estimates until the end of the year. The effective interest rate for a pool is fixed for the remaining life of the pool once the year has ended. Methodology : The Company develops its estimates of expected recoveries in the Consolidated Balance Sheets by applying discounted cash flow methodologies to its estimated remaining collections ("ERC") and recognizes income over the estimated life of the pool at the constant effective interest rate of the pool. Subsequent changes (favorable and unfavorable) in expected cash flows are recognized within Changes in expected recoveries in the Consolidated Income Statements by adjusting the present value of increases or decreases in ERC at a constant effective interest rate. Amounts included in the estimate of recoveries do not exceed the aggregate amount of the amortized cost basis previously written off or expected to be written off. The measurement of expected recoveries is based on relevant information about past events, including historical experience, current conditions, and reasonable and supportable forecasts that affect the collectability of the reported amount. Development of the Company’s forecasts rely on both quantitative and qualitative factors. Qualitative factors can include both external and internal information and consider management’s view on available facts and circumstances at each reporting period. More specifically, external factors that may have an impact on the collectability, and subsequently on the overall profitability of acquired portfolios of nonperforming loans, would include new laws or regulations relating to collections, new interpretations of existing laws or regulations, and the overall condition of the economy. Internal factors that may have an impact on the collectability, and subsequently the overall profitability of acquired portfolios of nonperforming loans, would include necessary revisions to initial and post-acquisition scoring and modeling estimates, operational activities, expected impact of operational strategies and changes in productivity related to turnover and tenure of the Company's collection staff. Portfolio income : The recognition of income on expected recoveries is based on the constant effective interest rate established for a pool. Changes in expected recoveries : The activity consists of differences between actual recoveries compared to expected recoveries for the reporting period, as well as the net present value of increases or decreases in ERC at the constant effective interest rate. Agreements to acquire the aforementioned receivables include general representations and warranties from the sellers covering matters such as account holder death or insolvency and accounts settled or disputed prior to sale. The representation and warranty period permitting the return of these accounts from the Company to the seller is typically 90 to 180 days, with certain international agreements extending as long as 24 months. Any funds received from the seller as a return of purchase price are referred to as buybacks. Buyback funds are included in changes in expected recoveries when received. Fees paid to third parties other than the seller related to the direct acquisition of a portfolio of accounts are expensed when incurred. Fee income recognition: The Company recognizes revenue from its class action claims recovery services when there is persuasive evidence that an arrangement exists, delivery has occurred or services have been rendered, the amount is fixed or determinable, and collectability is reasonably assured. Property and equipment: Property and equipment, including improvements that significantly add to the productive capacity or extend useful life, are recorded at cost. Maintenance and repairs are expensed as incurred. Property and equipment are depreciated over their useful lives using the straight-line method of depreciation. Software and computer equipment are generally amortized or depreciated over three three ten Goodwill: Goodwill is not amortized but rather is reviewed for impairment annually or more frequently if indicators of potential impairment exist. The Company performs its annual assessment of goodwill as of October 1. The Company may first assess qualitative factors to determine whether it is more likely than not that the fair value of a reporting unit is less than its carrying amount, including goodwill. If management concludes that it is more likely than not that the fair value of a reporting unit is less than its carrying amount, an impairment loss is recognized. The loss will be recorded at the amount by which the carrying amount exceeds the reporting unit’s fair value, not to exceed the total amount of goodwill allocated to the respective reporting unit. Convertible Notes: The Company has outstanding 3.50% Convertible Notes due 2023 (the "2023 Notes" or "Convertible Notes"). On January 1, 2021, the Company adopted ASU 2020-06 using a modified retrospective method. ASU 2020-06 reduces the number of accounting models for convertible debt instruments and convertible preferred stock. Additionally, ASU 2020-06 removes certain settlement conditions that are required for equity contracts to qualify for the derivative scope exception and simplifies the diluted earnings per share ("EPS") calculation in certain areas. Under ASU 2020-06, the embedded conversion features are no longer separated from the host contract for convertible instruments with conversion features that are not required to be accounted for as derivatives or that do not result in substantial premiums accounted for as paid-in capital. Consequently, a convertible debt instrument is accounted for as a single liability measured at its amortized cost. Upon adoption, the Company made adjustments that increased retained earnings by $12.0 million, reduced additional paid-in capital by $26.7 million and increased the net carrying amount of the 2023 Notes by $19.8 million. Additionally, for the year ended December 31, 2021, the effect of adoption reduced interest expense by $8.2 million, increased net income by $6.4 million and impacted EPS by $0.14 per share. For more information on the 2023 Notes, see Note 6 . Prior to ASU 2020-06, the Company accounted for its Convertible Notes by separately accounting for the liability and equity components in a manner that reflected the entity's nonconvertible debt borrowing rate when interest cost was recognized in subsequent periods. The excess of the principal amount of the liability component over its carrying amount was amortized to interest expense over the expected life of a similar liability that did not have an associated equity component, using the effective interest method. The equity component was not remeasured as long as it continued to meet the conditions for equity classification. Transaction costs incurred with third parties were allocated to the liability and equity components in proportion to the allocation of proceeds and accounted for as debt issuance costs and equity issuance costs, respectively. Income taxes: The Company records a tax provision for the anticipated tax consequences of the reported results of operations. The provision for income taxes is estimated using the asset and liability method, under which deferred tax assets and liabilities are recognized for the expected future tax consequences of temporary differences between the financial reporting and tax basis of assets and liabilities, and for operating losses and tax credit carryforwards. Deferred tax assets and liabilities are measured using the currently enacted tax rates that apply to taxable income in effect for the years in which those tax assets are expected to be realized or settled. The Company is subject to income taxes throughout the U.S. and in numerous international jurisdictions. The Company recognizes the financial statement benefits of a tax position if it is more likely than not to be sustained in the event of challenges by relevant taxing authorities based on the technical merit. The amounts of benefit to recognize in the financial statements are the largest benefits that have a greater than 50 percent likelihood of being realized upon settlement with the relevant tax authorities. The Company records interest and penalties related to unrecognized tax benefits as a component of income tax expense when the more likely than not standards are not met. In preparation of the Consolidated Financial Statements, the Company exercises significant judgment in estimating the potential exposure to unresolved tax matters and applies a more likely than not criteria approach for recording tax benefits related to uncertain tax positions in the application of complex tax laws. While actual results could vary, the Company believes it has adequate tax accruals with respect to the ultimate outcome of such tax matters. The Company establishes a valuation allowance when it determines all or part of the deferred tax assets are not realizable. If the Company subsequently realizes deferred tax assets that were previously determined to be unrealizable, the respective valuation allowance would be reversed, resulting in a positive adjustment to earnings . Leases: The Company recognizes a liability for future lease payments and a right-of-use ("ROU") asset representing its right to use the underlying asset for the lease term on the balance sheet. The Company's operating lease portfolio primarily includes corporate offices and call centers. The majority of its leases have remaining lease terms of one year to 14 years, some of which include options to extend the leases for up to five years, and others include options to terminate the leases within one year. Exercises of lease renewal options are typically at the Company's sole discretion and are included in its ROU assets and lease liabilities based upon whether the Company is reasonably certain of exercising the renewal options. The Company has lease agreements with lease and non-lease components, which are generally accounted for separately. The Company's lease agreements do not contain any material residual value guarantees or material restrictive covenants. As most of the Company's leases do not provide an implicit rate, the Company uses its incremental borrowing rate based on the information available at the lease commencement date in determining the present value of the lease payments. Share-based compensation: Compensation expense associated with share equity awards are recognized in the income statement. The Company determines stock-based compensation expense for all share-based payment awards based on the measurement date fair value. The Company has certain share awards that include market conditions that affect vesting. The fair value of these shares is estimated using a lattice model. Compensation cost is not adjusted if the market condition is not met, as long as the requisite service is provided. The Company estimates a forfeiture rate for most equity share grants based on historical experience. Time-based equity share awards generally vest between one Note 1 1 for additional information. Derivatives: The Company periodically enters into derivative financial instruments, typically interest rate swap agreements, interest rate caps, and foreign currency contracts to reduce its exposure to fluctuations in interest rates on variable-rate debt and foreign currency exchange rates. The Company does not utilize derivative financial instruments with a level of complexity or with a risk greater than the exposure to be managed nor does it enter into or hold derivatives for trading or speculative purposes. All of the Company's outstanding derivative financial instruments are recognized in the balance sheet at their fair values. The effect on earnings from recognizing the fair values of these derivative financial instruments depends on their intended use, their hedge designation, and their effectiveness in offsetting changes in the fair values of the exposures they are hedging. Changes in the fair values of instruments designated to reduce or eliminate adverse fluctuations in the fair values of recognized assets and liabilities and unrecognized firm commitments are reported in earnings along with changes in the fair values of the hedged items. Changes in the effective portions of the fair values of instruments used to reduce or eliminate adverse fluctuations in cash flows of anticipated or forecasted transactions are reported in equity as a component of Accumulated other comprehensive loss. Amounts in Accumulated other comprehensive loss are reclassified to earnings when the related hedged items affect earnings or the anticipated transactions are no longer probable. Changes in the fair values of derivative instruments that are not designated as hedges or do not qualify for hedge accounting treatment are reported in earnings. The Company realizes gains and losses from derivative instruments in the same financial statement line item as the hedged item/forecasted transaction. Changes in unrealized gains and losses for derivatives not designated in a hedge accounting relationship are recorded directly in earnings each period and are also recorded in the same financial statement line item as the hedged item/forecasted transaction. Cash flows from the settlement of derivatives, including both economic hedges and those designated in hedge accounting relationships, appear in the Consolidated Statements of Cash Flows in the same categories as the cash flows of the hedged item. For derivative financial instruments accounted for as hedging instruments, the Company formally designates and documents, at inception, the financial instrument as a hedge of a specific underlying exposure, the risk management objective, and the manner in which effectiveness of the hedge will be assessed. The Company formally assesses, both at inception and at each reporting period thereafter, whether the derivative financial instruments used in hedging transactions are effective in offsetting changes in fair value or cash flows of the related underlying exposures. In 2020, the Company adopted ASU 2020-04, "Reference Rate Reform (Topic 848): Facilitation of the Effect of Reference Rate Reform on Financial Reporting" ("ASU 2020-04"). ASU 2020-04 is effective for a limited time through December 31, 2022 and allows the Company to elect certain expedients to continue accounting for its interest rate swaps contracts designated as cash flow hedges. The Company discontinues the use of hedge accounting prospectively when (1) the derivative instrument is no longer effective in offsetting changes in fair value or cash flows of the underlying hedged item; (2) the derivative instrument expires, is sold, terminated, or exercised; or (3) designating the derivative instrument as a hedge is no longer appropriate. See Note 9 for additional information. Use of estimates: The preparation of the Consolidated Financial Statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the Consolidated Financial Statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Significant estimates have been made by management with respect to the timing and amount of future cash collections of the Company's finance receivables portfolios. Actual results could differ from these estimates making it reasonably possible that a change in these estimates could occur within one year. Commitments and contingencies: The Company is subject to various claims and contingencies related to lawsuits, certain taxes and commitments under contractual and other obligations. The Company recognizes liabilities for commitments and contingencies when a loss is probable and estimable. The Company expenses related legal costs as incurred. See Note 1 4 for additional information. Estimated fair value of financial instruments: Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. The Company takes into consideration differing levels of inputs in the determination of fair values. Disclosure of the estimated fair values of financial instruments often requires the use of estimates. See Note 8 for additional information. Recent accounting pronouncements: Recently issued accounting standards adopted: Income Taxes In December 2019, the Financial Accounting Standards Board ("FASB") issued ASU 2019-12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes ("ASU 2019-12"). ASU 2019-12 removes certain exceptions for recognizing deferred taxes for investments and calculating income taxes in interim periods. Additionally, the standard adds guidance to reduce complexity in certain areas, including recognizing taxes for tax goodwill and allocating taxes to members of a consolidated group. ASU 2019-12 is effective for annual and interim periods beginning after December 15, 2020 on a prospective basis. The Company adopted ASU 2019-12 on January 1, 2021 with no material impact to the Company's Consolidated Financial Statements upon adoption. Investments - Equity Securities In January 2020, the FASB issued ASU 2020-01 “Investments-Equity Securities (Topic 321), Investments-Equity Method and Joint Ventures (Topic 323), and Derivatives and Hedging (Topic 815)-Clarifying the Interactions between Topic 321, Topic 323, and Topic 815” ("ASU 2020-01"). ASU 2020-01 clarifies that a company should consider observable transactions that require a company to either apply or discontinue the equity method of accounting under Topic 323, Investments - Equity Method and Joint Ventures, for the purposes of applying the measurement alternative in accordance with Topic 321 immediately before applying or upon discontinuing the equity method. Additionally, it clarifies that, when determining the accounting for certain forward contracts and purchased options a company should not consider, whether upon settlement or exercise, if the underlying securities would be accounted for under the equity method or fair value option. The Company adopted ASU 2020-01 on January 1, 2021 with no impact to the Company's Consolidated Financial Statements upon adoption. Accounting for Convertible Instruments Effective January 1, 2021, the Company early adopted ASU 2020-06. Refer to the Convertible Notes accounting policy above. Reference Rate Reform In January 2021, the FASB issued ASU 2021-01, "Reference Rate Reform (Topic 848): Overall" ("ASU 2021-01"). ASU 2021-01 expands the scope of ASC 848 to include derivatives affected by the discounting transition for ce

Finance Receivables, net

Finance Receivables, net	12 Months Ended
	Dec. 31, 2020
Receivables [Abstract]
Finance Receivables, net	Finance Receivables, net: Finance receivables, net consisted of the following at December 31, 2021 and 2020 (amounts in thousands): 2021 2020 Amortized cost $ — $ — Negative allowance for expected recoveries (1) 3,428,285 3,514,788 Balance at end of year $ 3,428,285 $ 3,514,788 (1) The negative allowance balance includes certain portfolios of nonperforming loans for which the Company holds a beneficial interest representing approximately 1% of the balance. Changes in the negative allowance for expected recoveries by portfolio segment for the years ended December 31, 2021 and 2020 were as follows (amounts in thousands): 2021 Core Insolvency Total Balance at beginning of year $ 3,019,477 $ 495,311 $ 3,514,788 Initial negative allowance for expected recoveries - portfolio acquisitions (1) 863,379 108,901 972,280 Foreign currency translation adjustment (68,544) (2,189) (70,733) Recoveries applied to negative allowance (2) (1,002,400) (183,554) (1,185,954) Changes in expected recoveries (3) 178,020 19,884 197,904 Balance at end of year $ 2,989,932 $ 438,353 $ 3,428,285 2020 Core Insolvency Total Balance at beginning of year $ 3,051,426 $ 462,739 $ 3,514,165 Initial negative allowance for expected recoveries - portfolio acquisitions (1) 742,583 162,535 905,118 Foreign currency translation adjustment 54,735 9,132 63,867 Recoveries applied to negative allowance (2) (891,925) (145,734) (1,037,659) Changes in expected recoveries (3) 62,658 6,639 69,297 Balance at end of year $ 3,019,477 $ 495,311 $ 3,514,788 (1) Initial negative allowance for expected recoveries - portfolio acquisitions Portfolio acquisitions for the years ended December 31, 2021 and 2020 were as follows (amounts in thousands): 2021 Core Insolvency Total Face value $ 5,917,827 $ 508,868 $ 6,426,695 Noncredit discount (696,983) (37,202) (734,185) Allowance for credit losses at acquisition (4,357,465) (362,765) (4,720,230) Purchase price $ 863,379 $ 108,901 $ 972,280 2020 Core Insolvency Total Face value $ 5,820,159 $ 887,134 $ 6,707,293 Noncredit discount (710,636) (53,357) (763,993) Allowance for credit losses at acquisition (4,366,940) (671,242) (5,038,182) Purchase price $ 742,583 $ 162,535 $ 905,118 The initial negative allowance recorded on portfolio acquisitions for the years ended December 31, 2021 and 2020 were as follows (amounts in thousands): 2021 Core Insolvency Total Allowance for credit losses at acquisition $ (4,357,465) $ (362,765) $ (4,720,230) Writeoffs, net 4,357,465 362,765 4,720,230 Expected recoveries 863,379 108,901 972,280 Initial negative allowance for expected recoveries $ 863,379 $ 108,901 $ 972,280 2020 Core Insolvency Total Allowance for credit losses at acquisition $ (4,366,940) $ (671,242) $ (5,038,182) Writeoffs, net 4,366,940 671,242 5,038,182 Expected recoveries 742,583 162,535 905,118 Initial negative allowance for expected recoveries $ 742,583 $ 162,535 $ 905,118 (2) Recoveries applied to negative allowance Recoveries applied to the negative allowance for the years ended December 31, 2021 and 2020 were as follows (amounts in thousands): 2021 Core Insolvency Total Recoveries (a) $ 1,818,635 $ 242,646 $ 2,061,281 Less - amounts reclassified to portfolio income 816,235 59,092 875,327 Recoveries applied to negative allowance $ 1,002,400 $ 183,554 $ 1,185,954 2020 Core Insolvency Total Recoveries (a) $ 1,803,480 $ 218,215 $ 2,021,695 Less - amounts reclassified to portfolio income 911,555 72,481 984,036 Recoveries applied to negative allowance $ 891,925 $ 145,734 $ 1,037,659 (a) Recoveries includes cash collections, buybacks and other cash-based adjustments. (3) Changes in expected recoveries Changes in expected recoveries for the years ended December 31, 2021 and 2020 were as follows (amounts in thousands): 2021 Core Insolvency Total Changes in expected future recoveries $ (35,432) $ (16,816) $ (52,248) Recoveries received in excess of forecast 213,452 36,700 250,152 Changes in expected recoveries $ 178,020 $ 19,884 $ 197,904 2020 Core Insolvency Total Changes in expected future recoveries $ (207,982) $ (5,289) $ (213,271) Recoveries received in excess of forecast 270,640 11,928 282,568 Changes in expected recoveries $ 62,658 $ 6,639 $ 69,297 In order to make estimates of future cash collections, the Company considered historical performance, current economic forecasts, short-term and long-term growth in the various geographies in which the Company operates and consumer habits. The Company considered recent collection activity in its determination to adjust assumptions related to near-term ERC for certain pools. Based on these considerations, the Company’s estimates incorporate changes in both amounts and in the timing of expected cash collections over the forecast period. For the year ended December 31, 2021, Changes in expected recoveries were a net positive $197.9 million. The changes were the net result of recoveries received in excess of forecast of $250.2 million from significant cash collections overperformance during the year reduced by a $52.2 million net negative adjustment to changes in expected future recoveries. The changes in expected future recoveries includes the Company's assumption that the majority of the current year overperformance was due to acceleration of future collections. The Company also increased near-term expected collections in certain geographies to reflect recent performance trends in collections, and made corresponding reductions later in the forecast period. For the year ended December 31, 2020, Changes in expected recoveries were a net positive $69.3 million. This reflected $282.6 million in recoveries received in excess of forecast, which was largely due to significant cash collections overperformance during the last three quarters of 2020. This was mostly offset by a $213.3 million decrease in the present value of expected future recoveries. The decrease reflected the Company's assumption that the majority of the overperformance was primarily due to acceleration in the timing of cash collections rather than an increase to total expected collections. Additionally, the Company made forecast adjustments in all quarters deemed appropriate given the environment in which the Company operated. Changes in the Company’s assumptions regarding the duration and impact of the COVID-19 pandemic to cash collections, could change significantly as conditions evolve.

Investments

Investments	12 Months Ended
	Dec. 31, 2021
Investments, Debt and Equity Securities [Abstract]
Investments	Investments: Investments consisted of the following at December 31, 2021 and 2020 (amounts in thousands): 2021 2020 Debt securities Available-for-sale $ 77,538 $ 5,368 Equity securities Exchange traded funds 1,746 34,847 Private equity funds 5,137 6,123 Mutual funds 508 1,023 Equity method investments 8,048 8,398 Total investments $ 92,977 $ 55,759 Debt Securities Available-for-Sale Government securities : The Company's investments primarily in short-term government instruments with maturities of twelve months or less, including bonds and treasury securities, which are classified as available-for-sale and are stated at fair value. The amortized cost and estimated fair value of investments in debt securities at December 31, 2021 and 2020 were as follows (amounts in thousands): 2021 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Aggregate Fair Value Available-for-sale Government securities $ 77,757 $ — $ 219 $ 77,538 2020 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Aggregate Fair Value Available-for-sale Government securities $ 5,239 $ 129 $ — $ 5,368 Equity Securities Exchange traded funds: The Company invested in certain treasury bill exchange traded funds, which were accounted for as equity securities and carried at fair value. In August 2021, the Company sold the majority of these funds. Gains and losses from these investments are included within Other income and (expense) in the Company's Consolidated Income Statements. Investments in private equity funds : Investments in private equity funds represent limited partnerships in which the Company has less than a 1% interest. Mutual funds: Represents investment funds held in Brazil in a Brazilian real denominated mutual fund benchmarked to the U.S. dollar that invests principally in Brazilian fixed income securities. The investments are carried at fair value based on quoted market prices. Gains and losses from these investments are included as a foreign exchange component of Other income and (expense) in the Company's Consolidated Income Statements.

Leases

Leases	12 Months Ended
	Dec. 31, 2021
Leases [Abstract]
Leases	Leases: The Company leases office space and equipment under operating leases. The components of lease expense for the years ended December 31, 2021 and 2020 were as follows (amounts in thousands): 2021 2020 Operating lease expense $ 12,256 $ 12,263 Short-term lease expense 2,986 2,598 Sublease income (196) — Total lease expense $ 15,046 $ 14,861 Supplemental cash flow information and non-cash activity related to leases for the years ended December 31, 2021 and 2020 were as follows (amounts in thousands): 2021 2020 Cash paid for amounts included in the measurement of operating lease liabilities $ 12,034 $ 12,416 ROU assets obtained/(disposed), net in exchange for operating lease obligations $ 13,525 $ (7,506) Lease term and discount rate information related to operating leases were as follows as of the date indicated: 2021 2020 Weighted-average remaining lease terms (years) 8.6 9.1 Weighted-average discount rate 4.5 % 4.7 % Maturities of lease liabilities at December 31, 2021, are as follows for the years ending December 31, (amounts in thousands): Operating Leases 2022 $ 11,231 2023 9,288 2024 8,851 2025 8,673 2026 7,671 Thereafter 28,512 Total lease payments $ 74,226 Less: imputed interest 13,038 Total present value of lease liabilities $ 61,188

Goodwill and Intangible Assets,

Goodwill and Intangible Assets, net	12 Months Ended
	Dec. 31, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Intangible Assets, net	Goodwill:The Company performs an annual review of goodwill as of October 1 of each year or more frequently if indicators of impairment exist. The Company performed an annual review of goodwill as of October 1, 2021 and concluded that no goodwill impairment was necessary. The following table represents the changes in goodwill for the years ended December 31, 2021 and 2020 (amounts in thousands): 2021 2020 Balance at beginning of year $ 492,989 $ 480,794 Change in foreign currency translation adjustment (12,726) 12,195 Balance at end of year $ 480,263 $ 492,989

Borrowings

Borrowings	12 Months Ended
	Dec. 31, 2021
Debt Disclosure [Abstract]
Borrowings	Borrowings: The Company's borrowings consisted of the following as of December 31, 2021 and 2020 (amounts in thousands): 2021 2020 Americas revolving credit (1) $ 372,119 $ 405,706 Europe revolving credit 795,687 1,171,890 Term loan 460,000 470,000 Senior Notes 650,000 300,000 Convertible Notes 345,000 345,000 2,622,806 2,692,596 Less: Debt discount and issuance costs (14,092) (31,307) Total $ 2,608,714 $ 2,661,289 (1) Includes a credit agreement with Banco de Occidente in an aggregate amount of approximately $1.0 million. As of December 31, 2021, the outstanding balance under the credit agreement was approximately $0.9 million, with an interest rate of 5.85%. The following principal payments are due on the Company's borrowings at December 31, 2021 for the years ending December 31, (amounts in thousands): 2022 $ 10,300 2023 1,150,986 2024 10,300 2025 310,000 2026 791,220 Thereafter 350,000 Total $ 2,622,806 The Company determined that it was in compliance with the covenants of its financing arrangements as of December 31, 2021. Set forth below is a description of the Company's material borrowing arrangements: North American Revolving Credit and Term Loan The Company has a credit agreement with Bank of America, N.A., as administrative agent, Bank of America, National Association, acting through its Canada branch, as the Canadian Administrative Agent, and a syndicate of lenders named therein. On July 30, 2021, the Company entered into the Fourth Amendment to the North American Credit Agreement (as amended, the "North American Credit Agreement"), which extended the maturity date to July 30, 2026 and, among other things, decreased the floors on the revolving loans, increased the limit of stock repurchases and redemption of convertible notes, lowered both the margin and unused line fee and added London Interbank Offered Rate ("LIBOR") replacement provisions to reflect the current market approach. The total credit facility under the North American Credit Agreement includes an aggregate principal amount of $1.5 billion (subject to compliance with a borrowing base and applicable debt covenants), which consists of (i) a fully-funded $460.0 million term loan, (ii) a $1.0 billion domestic revolving credit facility and (iii) a $75.0 million Canadian revolving credit facility. The facility includes an accordion feature for up to $500.0 million in additional commitments (at the option of the lender) and also provides for up to $25.0 million of letters of credit and a $25.0 million swingline loan sub-limit that would reduce amounts available for borrowing. The term and revolving loans accrue interest, at the option of the Company, at either the base rate, Canadian Dollar Offered Rate, or the Eurodollar rate (each, as defined in the North American Credit Agreement) for the applicable term plus 2.25% per annum, or 2.00% if the consolidated senior secured leverage ratio (as defined in the North American Credit Agreement) is less than or equal to 1.60 to 1.0. The revolving loans within the credit facilities are subject to a 0% floor. The revolving credit facilities also bear an unused line fee of 0.35% per annum, or 0.30% if the consolidated senior secured leverage ratio (as defined in the North American Credit Agreement) is less than or equal to 1.60 to 1.0, payable quarterly in arrears. As of December 31, 2021, the unused portion of the North American Credit Agreement was $703.8 million . Considering borrowing base calculations as of December 31, 2021, the amount available to be drawn was $131.3 million . The North American Credit Agreement is secured by a first priority lien on substantially all of the Company's North American assets. The North American Credit Agreement contains restrictive covenants and events of default including the following: • the ERC borrowing base is 35% for all eligible core asset pools and 55% for all insolvency eligible asset pools; • the consolidated total leverage ratio (as defined in the North American Credit Agreement) cannot exceed 3.50 to 1.0 as of the end of any fiscal quarter; • the consolidated senior secured leverage ratio cannot exceed 2.25 to 1.0 as of the end of any fiscal quarter; • subject to no default or event of default, cash dividends and distributions during any fiscal year cannot exceed $20.0 million; and • the Company must maintain positive consolidated income from operations during any fiscal quarter. The outstanding balances and weighted average interest rates by type of borrowing under the credit facility as of December 31, 2021 and 2020 are as follows (dollar amounts in thousands): 2021 2020 Amount Outstanding Weighted Average Interest Rate Amount Outstanding Weighted Average Interest Rate Term loan $ 460,000 2.10 % $ 470,000 2.65 % Revolving credit facilities $ 371,220 2.14 % $ 403,669 3.25 % European Revolving Credit Facility European subsidiaries of the Company ("PRA Europe") are parties to a credit agreement with DNB Bank ASA and a syndicate of lenders named therein, for a Multicurrency Revolving Credit Facility. On March 12, 2021, the Company entered into the Seventh Amendment and Restatement to its European Credit Agreement (as amended, the "European Credit Agreement") that, among other things, increased borrowings by $50.0 million through the accordion feature. The European Credit Agreement provides borrowings for an aggregate amount of approximately $1.35 billion (subject to the borrowing base), accrues interest at the Interbank Offered Rate plus 2.70% - 3.80% (as determined by the estimated remaining collections ratio ("ERC Ratio") as defined in the European Credit Agreement), bears an unused line fee, currently 1.12% per annum, or 35% of the margin, is subject to a 0% floor, is payable monthly in arrears and matures February 19, 2023. The European Credit Agreement also includes an overdraft facility in the aggregate amount of $40.0 million (subject to the borrowing base), which accrues interest (per currency) at the daily rates as published by the facility agent, bears a facility line fee of 0.125% per quarter, payable quarterly in arrears and matures February 19, 2023. As of December 31, 2021, the unused portion of the European Credit Agreement (including the overdraft facility) was $594.3 million. Considering borrowing base restrictions and other covenants as of December 31, 2021, the amount available to be drawn under the European Credit Agreement (including the overdraft facility) was $493.3 million . The European Credit Agreement is secured by the shares of most of the Company's European subsidiaries and all intercompany loans receivable in Europe. The European Credit Agreement contains restrictive covenants and events of default including the following: • the ERC Ratio cannot exceed 45%; • the gross interest-bearing debt ratio in Europe cannot exceed 3.25 to 1.0 as of the end of any fiscal quarter; • interest bearing deposits in AK Nordic AB cannot exceed SEK 1.2 billion; and • PRA Europe's cash collections must meet certain thresholds, measured on a quarterly basis. The outstanding balances and weighted average interest rates by type of borrowing under the European Credit Agreement as of December 31, 2021 and 2020 are as follows (dollar amounts in thousands): 2021 2020 Amount Outstanding Weighted Average Interest Rate Amount Outstanding Weighted Average Interest Rate Revolving credit facility $ 795,687 3.48 % $ 1,171,890 3.74 % Senior Notes due 2029 On September 22, 2021, the Company completed the private offering of $350.0 million in aggregate principal amount of its 5.00% Senior Notes due October 1, 2029 (the "2029 Notes"). The 2029 Notes were issued pursuant to an Indenture dated September 22, 2021 (the "2021 Indenture"), between the Company and Regions Bank, as trustee. The 2021 Indenture contains customary terms and covenants, including certain events of default after which the 2029 Notes may be due and payable immediately. The 2029 Notes are senior unsecured obligations of the Company and are guaranteed on a senior unsecured basis by all of the Company's existing and future domestic restricted subsidiaries that guarantee the North American Credit Agreement, subject to certain exceptions. Interest on the Notes is payable semi-annually, in arrears, on October 1 and April 1 of each year. On or after October 1, 2024, the Notes may be redeemed, at the Company's option in whole or in part at a price equal to 102.50% of the aggregate principal amount of the 2029 Notes being redeemed. The applicable redemption price changes if redeemed during the 12-months beginning October 1 of each year to 101.25% for 2025 and then 100% for 2026 and thereafter. In addition, on or before October 1, 2024, the Company may redeem up to 40% of the aggregate principal amount of the 2029 Notes at a redemption price of 105.00% plus accrued and unpaid interest subject to the rights of holders of the 2029 Notes with the net cash proceeds of a public offering of common stock of the Company provided, that at least 60% in aggregate principal amount of the 2029 Notes remains outstanding immediately after the occurrence of such redemption and that such redemption will occur within 90 days of the date of the closing of such public offering. In the event of a Change of Control (as defined in the 2021 Indenture), each holder will have the right to require the Company to repurchase all or any part of such holder's 2029 Notes at an offer price equal to 101% of the aggregate principal amount plus accrued and unpaid interest. If the Company sells assets under certain circumstances and does not use the proceeds for specified purposes, the Company will be required to make an offer to repurchase the 2029 Notes at 100% of their principal amount. Senior Notes due 2025 On August 27, 2020, the Company completed the private offering of $300.0 million in aggregate principal amount of its 7.375% Senior Notes due September 1, 2025 (the "2025 Notes" and together with the 2029 Notes, the "Senior Notes"). The 2025 Notes were issued pursuant to an Indenture dated August 27, 2020 (the "2020 Indenture"), between the Company and Regions Bank, as a trustee. The 2020 Indenture contains customary terms and covenants, including certain events of default after which the 2025 Notes may be due and payable immediately. The 2025 Notes are senior unsecured obligations of the Company and are guaranteed on a senior unsecured basis by all of the Company's existing and future domestic restricted subsidiaries that guarantee the North American Credit Agreement, subject to certain exceptions. Interest on the 2025 Notes is payable semi-annually, in arrears, on September 1 and March 1 of each year. On or after September 1, 2022, the 2025 Notes may be redeemed, in whole or in part, at a price equal to 103.688% of the aggregate principal amount of the 2025 Notes being redeemed. The applicable redemption price changes if redeemed during the 12-months beginning September 1 of each year to 101.844% for 2023 and then 100% for 2024 and thereafter. In addition, on or before September 1, 2022, the Company may redeem up to 40% of the aggregate principal amount of the 2025 Notes at a redemption price of 107.375% plus accrued and unpaid interest subject to the rights of holders of the 2025 Notes with the net cash proceeds of a public offering of common stock of the Company provided that at least 60% in aggregate principal amount of the 2025 Notes remains outstanding immediately after the occurrence of such redemption and that such redemption will occur within 90 days of the date of the closing of such public offering. In the event of a Change of Control (as defined in the 2020 Indenture), the Company must offer to repurchase all of the 2025 Notes (unless otherwise redeemed) at a price equal to 101% of their aggregate principal amount plus accrued and unpaid interest. If the Company sells assets under certain circumstances and does not use the proceeds for specified purposes, the Company will be required to make an offer to repurchase the 2025 Notes at 100% of their principal amount plus accrued and unpaid interest. Convertible Senior Notes due 2023 On May 26, 2017, the Company completed the private offering of $345.0 million in aggregate principal amount of its 3.50% Convertible Senior Notes due June 1, 2023. The 2023 Notes were issued pursuant to an Indenture, dated May 26, 2017 (the "2017 Indenture"), between the Company and Regions Bank, as trustee. The 2017 Indenture contains customary terms and covenants, including certain events of default after which the 2023 Notes may be due and payable immediately. The 2023 Notes are senior unsecured obligations of the Company. Interest on the 2023 Notes is payable semi-annually, in arrears, on June 1 and December 1 of each year. The holders of the 2023 Notes have the right to convert all, or a portion of, the 2023 Notes upon occurrence of specific events prior to the close of business on the business day immediately preceding March 1, 2023, including: • if during any calendar quarter, the last reported sales price of the Company's common stock is greater than 130% of the conversion price for at least 20 trading days during the period of 30 consecutive trading days; • if the trading price of the 2023 Notes is less than 98% of the product of the last reported sales price of the Company's common stock and the conversion rate for a 10 consecutive trading day period; • the Company elects to issue to all, or substantially all, holders of its common stock any rights, options or warrants entitling them, for a period of more than 45 calendar days, to subscribe for or purchase shares at a price per share that is less than the average of the last reported sales price (as defined in the 2017 Indenture) for the 10 consecutive trading day-period ending on the trading day immediately preceding the date of announcement of such issuance; • the Company elects to distribute to all, or substantially all, holders of its common stock the Company’s assets, debt securities or rights to purchase securities of the Company, which distribution has a share value exceeding 10% of the last reported sale price (as defined in the 2017 Indenture) on the trading day preceding the announcement of such distribution; or • a transaction occurs that constitutes a fundamental change (as defined in the 2017 Indenture) or, the Company is party to a consolidation, merger, binding share exchange, or transfer or lease of all, or substantially all, of the Company’s assets. On or after March 1, 2023, the 2023 Notes will be convertible at any time. As of December 31, 2021, the Company does not believe that any of the conditions allowing holders of the 2023 Notes to convert their notes has occurred. Furthermore, the Company has the right, at its election, to redeem all or any part of the outstanding 2023 Notes at any time on or after June 1, 2021 for cash, but only if the last reported sale price (as defined in the 2017 Indenture) of the Company's common stock exceeds 130% of the conversion price on each of at least 20 trading days during the 30 consecutive trading days ending on and including the trading day immediately before the date the Company sends the related redemption notice. The conversion rate for the 2023 Notes is initially 21.6275 shares per $1,000 principal amount of 2023 Notes, which is equivalent to an initial conversion price of approximately $46.24 per share of the Company's common stock and is subject to adjustment in certain circumstances pursuant to the 2017 Indenture. Upon conversion, holders of the 2023 Notes will receive cash, shares of the Company's common stock or a combination of cash and shares of the Company's common stock, at the Company's election. The Company has made an irrevocable election to settle conversions by paying holders of the 2023 Notes cash up to the aggregate principal amount of the 2023 Notes and shares of the Company's common stock or a combination of cash and shares of the Company's common stock, at the Company's election, for the remaining amounts owed, if any. In accordance with authoritative guidance related to derivatives and hedging and EPS, only the conversion spread is included in the diluted EPS calculation, if dilutive. Under such method, the settlement of the conversion spread has a dilutive effect when the market conversion criteria is met. The Company determined that the fair value of the 2023 Notes at the date of issuance was approximately $298.8 million and designated the residual value of approximately $46.2 million as the equity component. Additionally, the Company allocated approximately $8.3 million of the $9.6 million issuance cost as debt issuance cost and the remaining $1.3 million as an equity issuance cost. Upon adoption of ASU 2020-06, the equity classification model was eliminated, resulting in an adjustment to retained earnings and an increase to the 2023 Notes. Refer to the Company's Convertible Notes accounting policy in Note 1 for further information. The balances of the liability and equity components of the Company's Convertible Notes outstanding as of December 31, 2021 and 2020 were as follows (amounts in thousands): 2021 2020 Liability component - principal amount $ 345,000 $ 345,000 Unamortized debt discount — (20,603) Unamortized debt issuance costs (2,476) (3,335) Liability component - net carrying amount $ 342,524 $ 321,062 Equity component $ — $ 44,910 The Company amortizes debt issuance costs over the life of the debt using the effective interest method. Upon adoption of ASU 2020-06 the debt discount was eliminated and the debt issuance costs were remeasured, resulting in an effective interest rate of 4.00%. Interest expense related to the Company's Convertible Notes for the years ended December 31, 2021, 2020 and 2019 was as follows (amounts in thousands): 2021 2020 (1) 2019 (1) Interest expense - stated coupon rate $ 12,075 $ 17,064 $ 20,700 Interest expense - amortization of debt discount — 10,811 12,398 Interest expense - amortization of debt issuance costs 1,660 1,989 2,424 Total interest expense - Convertible Notes $ 13,735 $ 29,864 $ 35,522 (1) 2020 and 2019 amounts include interest expense related to the Company's 3.00% Convertible Senior Notes due August 1, 2020, which were repaid in the third quarter of 2020. Interest Expense, Net The Company incurs interest expense on its borrowings, interest-bearing deposits, and interest rate derivative agreements. The Company earns interest income on certain of its cash and cash equivalents, restricted cash and its interest rate derivative agreements. Interest expense, net, was as follows for the years ended December 31, 2021, 2020 and 2019 (amounts in thousands): 2021 2020 2019 Interest expense $ 125,231 $ 142,727 $ 144,165 Interest income (1,088) (1,015) (2,247) Interest expense, net $ 124,143 $ 141,712 $ 141,918

Property and Equipment, net

Property and Equipment, net	12 Months Ended
	Dec. 31, 2021
Property, Plant and Equipment, Net [Abstract]
Property and Equipment, net	Property and Equipment, net: Property and equipment, at cost, consisted of the following as of December 31, 2021 and 2020 (amounts in thousands): 2021 2020 Software $ 69,549 $ 66,947 Computer equipment 25,457 23,740 Furniture and fixtures 20,034 17,978 Equipment 15,297 15,137 Leasehold improvements 17,606 17,403 Building and improvements 19,456 17,905 Land 1,407 1,407 Accumulated depreciation (117,420) (105,707) Assets in process 3,127 3,546 Property and equipment, net $ 54,513 $ 58,356 Depreciation expense relating to property and equipment for the years ended December 31, 2021, 2020 and 2019 was $15.1 million , $15.6 million and $15.9 million, respectively.

Fair Value

Fair Value	12 Months Ended
	Dec. 31, 2021
Fair Value Disclosures [Abstract]
Fair Value	Fair Value: Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. ASC Topic 820, "Fair Value Measurement", ("ASC 820") also requires the consideration of differing levels of inputs in the determination of fair values. Those levels of input are summarized as follows: • Level 1: Quoted prices in active markets for identical assets and liabilities. • Level 2: Observable inputs other than Level 1 quoted prices, such as quoted prices for similar instruments in active markets, quoted prices for identical or similar instruments in markets that are not active, and model-based valuation techniques for which all significant assumptions are observable in the market. • Level 3: Unobservable inputs that are supported by little or no market activity. Level 3 assets and liabilities include financial instruments whose value is determined using pricing models, discounted cash flow methodologies, or similar techniques as well as instruments for which the determination of fair value requires significant management judgment or estimation. The level in the fair value hierarchy within which a fair value measurement in its entirety falls is based on the lowest level input that is significant to the fair value measurement in its entirety. Financial Instruments Not Required To Be Carried at Fair Value In accordance with the disclosure requirements of ASC Topic 825, "Financial Instruments" ("ASC 825"), the table below summarizes fair value estimates for the Company's financial instruments that are not required to be carried at fair value. The total of the fair value calculations presented does not represent, and should not be construed to represent, the underlying value of the Company. The carrying amounts in the table are recorded in the Consolidated Balance Sheets at December 31, 2021 and 2020 (amounts in thousands): 2021 2020 Carrying Estimated Carrying Estimated Financial assets: Cash and cash equivalents $ 87,584 $ 87,584 $ 108,613 $ 108,613 Finance receivables, net 3,428,285 3,317,658 3,514,788 3,541,159 Financial liabilities: Interest-bearing deposits 124,623 124,623 132,739 132,739 Revolving lines of credit 1,167,806 1,167,806 1,577,596 1,577,596 Term loan 460,000 460,000 470,000 470,000 Senior Notes 650,000 673,366 300,000 324,408 Convertible Notes 345,000 406,607 324,397 376,012 Disclosure of the estimated fair values of financial instruments often requires the use of estimates. The carrying amount and estimates of the fair value of the Company's debt obligations outlined above do not include any related debt issuance costs associated with the debt obligations. The Company uses the following methods and assumptions to estimate the fair value of financial instruments: Cash and cash equivalents: The carrying amount approximates fair value and quoted prices for identical assets in active markets. Accordingly, the Company estimates the fair value of cash and cash equivalents using Level 1 inputs. Finance receivables, net: The Company estimates the fair value of these receivables using proprietary pricing models that the Company utilizes to make portfolio acquisition decisions. Accordingly, the Company's fair value estimates use Level 3 inputs as there is little observable market data available and management is required to use significant judgment in its estimates. Interest-bearing deposits: The carrying amount approximates fair value due to the short-term nature of the deposits and the observable quoted prices for similar instruments in active markets. Accordingly, the Company uses Level 2 inputs for its fair value estimates. Revolving lines of credit: The carrying amount approximates fair value due to the short-term nature of the interest rate periods and the observable quoted prices for similar instruments in active markets. Accordingly, the Company uses Level 2 inputs for its fair value estimates. Term loan: The carrying amount approximates fair value due to the short-term nature of the interest rate periods and the observable quoted prices for similar instruments in active markets. Accordingly, the Company uses Level 2 inputs for its fair value estimates. Senior Notes and Convertible Notes: The fair value estimates for the Senior Notes and Convertible Notes incorporate quoted market prices that were obtained from secondary market broker quotes that were derived from a variety of inputs including client orders, information from their pricing vendors, modeling software, and actual trading prices when they occur. Accordingly, the Company uses Level 2 inputs for its fair value estimates. Furthermore, in the table above, the carrying amount as of the December 31, 2020 represents the Convertible Notes net of the debt discount. Upon adoption of ASU 2020-06, the carrying amount of the Convertible Notes reflects face value as the debt discount was eliminated. Financial Instruments Required To Be Carried At Fair Value The carrying amounts in the following table are measured at fair value on a recurring basis in the accompanying Consolidated Balance Sheets at December 31, 2021 and 2020 (amounts in thousands): Fair Value Measurements as of December 31, 2021 Level 1 Level 2 Level 3 Total Assets: Government securities $ 77,538 $ — $ — $ 77,538 Exchange traded funds 1,746 — — 1,746 Mutual funds 508 — — 508 Derivative contracts (recorded in other assets) — 9,785 — 9,785 Liabilities: Derivative contracts (recorded in other liabilities) — 25,978 — 25,978 Fair Value Measurements as of December 31, 2020 Level 1 Level 2 Level 3 Total Assets: Government securities $ 5,368 $ — $ — $ 5,368 Exchange traded funds 34,847 — — 34,847 Mutual funds 1,023 — — 1,023 Derivative contracts (recorded in other assets) — 3,512 — 3,512 Liabilities: Derivative contracts (recorded in other liabilities) — 45,432 — 45,432 Government securities: Fair value of the Company's investment in government instruments is estimated using quoted market prices. Accordingly, the Company uses Level 1 inputs. Exchange traded funds: Fair value of the Company's investment in exchange traded funds is estimated using quoted market prices. Accordingly, the Company uses Level 1 inputs. Mutual funds: Fair value of the Company's investment in mutual funds is estimated using quoted market prices. Accordingly, the Company uses Level 1 inputs. Derivative contracts: The estimated fair value of the derivative contracts is determined using industry standard valuation models. These models project future cash flows and discount the future amounts to a present value using market-based observable inputs, including interest rate curves and other factors. Accordingly, the Company uses Level 2 inputs for its fair value estimates. Investments measured using net asset value ("NAV") Private equity funds: This class of investments consists of private equity funds that invest primarily in loans and securities including single-family residential debt; corporate debt products; and financially-oriented, real estate-rich and other operating companies in the Americas, Western Europe, and Japan. These investments are subject to certain restrictions regarding transfers and withdrawals. The investments cannot be redeemed with the funds. Instead, the nature of the investments in this class is that distributions are received through the liquidation of the underlying assets of the fund. The investments are expected to be returned through distributions as a result of liquidations of the funds' underlying assets over one $5.1 million and $6.1 million as of December 31, 2021 and December 31, 2020, respectively.

Derivatives

Derivatives	12 Months Ended
	Dec. 31, 2021
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivatives	Derivatives: The following table summarizes the fair value of derivative instruments in the Company's Consolidated Balance Sheets as of December 31, 2021 and 2020 (amounts in thousands): 2021 2020 Balance Sheet Location Fair Value Balance Sheet Location Fair Value Derivatives designated as hedging instruments: Interest rate contracts Other assets $ 6,251 Other assets $ — Interest rate contracts Other liabilities 14,879 Other liabilities 43,017 Derivatives not designated as hedging instruments: Foreign currency contracts Other assets 3,534 Other assets 3,512 Foreign currency contracts Other liabilities 11,099 Other liabilities 2,415 Derivatives Designated as Hedging Instruments: Changes in the fair value of derivative contracts designated as cash flow hedging instruments are recognized in OCI. As of December 31, 2021 and December 31, 2020, the notional amount of interest rate contracts designated as cash flow hedging instruments was $869.1 million and $967.2 million, respectively. Derivatives designated as cash flow hedging instruments were evaluated and remained highly effective at December 31, 2021 and have initial terms of one $4.2 million of net derivative loss included in OCI will be reclassified into earnings within the next 12 months. The following table summarizes the effects of derivatives designated as cash flow hedging instruments on the Consolidated Financial Statements for the years ended December 31, 2021, 2020 and 2019 (amounts in thousands): Gain or (loss) recognized in OCI, net of tax Derivatives designated as cash flow hedging instruments 2021 2020 2019 Interest rate contracts $ 17,961 $ (28,101) $ (14,311) Gain or (loss) reclassified from OCI into income Location of gain or (loss) reclassified from OCI into income 2021 2020 2019 Interest expense, net $ (12,722) $ (10,027) $ (1,457) Derivatives Not Designated as Hedging Instruments: Changes in fair value of derivative contracts not designated as hedging instruments are recognized in earnings. The Company also enters into foreign currency contracts to economically hedge the foreign currency re-measurement exposure related to certain balances that are denominated in currencies other than the functional currency of the entity. As of December 31, 2021 and December 31, 2020, the notional amount of foreign currency contracts that are not designated as hedging instruments was $1,061.7 million and $500.8 million, respectively. The following table summarizes the effects of derivatives not designated as hedging instruments on the Company’s Consolidated Income Statements for the years ended December 31, 2021, 2020 and 2019 (amounts in thousands): Amount of gain or (loss) recognized in income Derivatives not designated as hedging instruments Location of gain or (loss) recognized in income 2021 2020 2019 Foreign currency contracts Foreign exchange gain/(loss) $ 12,160 $ 24,009 $ (7,008) Foreign currency contracts Interest expense, net 406 (2,475) (3,875) Interest rate contracts Interest expense, net — — (492)

Accumulated Other Comprehensive

Accumulated Other Comprehensive Loss	12 Months Ended
	Dec. 31, 2021
Equity [Abstract]
Accumulated Other Comprehensive Loss	Accumulated Other Comprehensive Loss: The following table provides details about the reclassifications out of accumulated other comprehensive loss for the years ended December 31, 2021 and 2020 (amounts in thousands): Gains and losses on cash flow hedges 2021 2020 Affected line in the Consolidated Income Statements Interest rate swaps $ (12,722) $ (10,027) Interest expense, net Income tax effect of item above 2,705 2,187 Income tax expense Total losses on cash flow hedges $ (10,017) $ (7,840) The following table represents the changes in accumulated other comprehensive loss by component after tax, for the years ended December 31, 2021, 2020 and 2019 (amounts in thousands): Debt Securities Available for Sale Cash Flow Hedges Currency Translation Adjustment Accumulated Other Comprehensive Loss 1 Balance at December 31, 2018 $ (83) $ 44 $ (242,070) $ (242,109) Other comprehensive gain/(loss) before reclassifications 39 (14,311) (5,816) (20,088) Reclassifications, net — 1,179 — 1,179 Net current period other comprehensive gain/(loss) 39 (13,132) (5,816) (18,909) Balance at December 31, 2019 $ (44) $ (13,088) $ (247,886) $ (261,018) Other comprehensive gain/(loss) before reclassifications 171 (28,101) 35,317 7,387 Reclassifications, net — 7,840 — 7,840 Net current period other comprehensive gain/(loss) 171 (20,261) 35,317 15,227 Balance at December 31, 2020 $ 127 $ (33,349) $ (212,569) $ (245,791) Other comprehensive (loss)/gain before reclassifications (348) 17,961 (48,748) (31,135) Reclassifications, net — 10,017 — 10,017 Net current period other comprehensive (loss)/gain (348) 27,978 (48,748) (21,118) Balance at December 31, 2021 $ (221) $ (5,371) $ (261,317) $ (266,909) (1) For the years ended December 31, 2021, 2020 and 2019, net deferred taxes for unrealized losses from cash flow hedges were $3.1 million, $9.2 million and $4.4 million, respectively.

Share-Based Compensation

Share-Based Compensation	12 Months Ended
	Dec. 31, 2021
Share-based Payment Arrangement, Noncash Expense [Abstract]
Share-Based Compensation	Share-Based Compensation: The Company has an Omnibus Incentive Plan (the "Plan") that is intended to assist the Company in attracting and retaining selected individuals to serve as employees and directors, who are expected to contribute to the Company's success and to achieve long-term objectives that will benefit stockholders of the Company. The Plan enables the Company to award shares of the Company's common stock to select employees and directors, not to exceed 5,400,000 shares as authorized by the Plan. Total share-based compensation expense was $15.9 million , $14.4 million and $10.7 million for the years ended December 31, 2021, 2020 and 2019, respectively. The Company recognizes all excess tax benefits and tax deficiencies in the income statement when the awards vest or are settled. The total tax benefit realized from share-based compensation was approximately $3.9 million, $2.4 million and $1.2 million for the years ended December 31, 2021, 2020 and 2019, respectively. Nonvested Shares As of December 31, 2021, total future compensation expense related to nonvested share grants to individual employee plans and directors (not including nonvested shares granted under the Long-Term Incentive ("LTI") program discussed below), is estimated to be $11.4 million with a weighted average remaining life of 1.5 years . For these shares, the Company assumed no forfeiture rates, generally the shares vest ratably over one The following summarizes all nonvested share activity, excluding those pursuant to the LTI program, from December 31, 2018 through December 31, 2021 (amounts in thousands, except per share amounts): Nonvested Shares Weighted-Average Balance at December 31, 2018 379 $ 34.85 Granted 329 28.47 Vested (167) 34.81 Canceled (9) 31.01 Balance at December 31, 2019 532 30.97 Granted 256 38.69 Vested (219) 31.56 Canceled (14) 33.95 Balance at December 31, 2020 555 34.23 Granted 312 38.14 Vested (320) 33.80 Canceled (37) 36.06 Balance at December 31, 2021 510 $ 36.76 The total grant date fair value of shares vested, excluding those granted under the LTI program, during the years ended December 31, 2021, 2020 and 2019, was $10.8 million , $6.9 million and $5.8 million, respectively. Long-Term Incentive Program Pursuant to the Plan, the Compensation Committee may grant time-vested and performance-based nonvested shares. All shares granted under the LTI program were granted to key employees of the Company. The following table summarizes all LTI share activity from December 31, 2018 through December 31, 2021 (amounts in thousands, except per share amounts): Nonvested LTI Shares Weighted-Average Balance at December 31, 2018 454 $ 33.27 Granted at target level 168 28.28 Adjustments for actual performance (172) 28.98 Vested — — Canceled (3) 35.87 Balance at December 31, 2019 447 33.03 Granted at target level 118 39.04 Adjustments for actual performance (131) 34.44 Vested (36) 33.50 Canceled (6) 33.77 Balance at December 31, 2020 392 34.30 Granted at target level 148 37.45 Adjustments for actual performance (10) 39.40 Vested (99) 39.40 Canceled (24) 35.31 Balance at December 31, 2021 407 $ 34.01 The total grant date fair value of LTI shares vested during the years ended December 31, 2021, 2020 and 2019, was $3.9 million , $1.2 million and $0.0 million, respectively. At December 31, 2021, total future compensation expense, assuming the current estimated performance levels are achieved, related to nonvested shares granted under the LTI program is estimated to be approximately $5.4 million. The Company assumed a 5.0% forfeiture rate for these grants and the remaining shares have a weighted average remaining life of 1.1 years at December 31, 2021.

Earnings per Share

Earnings per Share	12 Months Ended
	Dec. 31, 2021
Earnings Per Share [Abstract]
Earnings per Share	Earnings per Share: Basic EPS are computed by dividing net income available to common stockholders of PRA Group, Inc. by weighted average common shares outstanding. Diluted EPS are computed using the same components as basic EPS with the denominator adjusted for the dilutive effect of the conversion spread of the Convertible Notes and nonvested share awards, if dilutive. There has been no dilutive effect of the Convertible Notes since issuance through December 31, 2021. Share-based awards that are contingent upon the attainment of performance goals are included in the computation of diluted EPS if the effect is dilutive. The dilutive effect of nonvested shares is computed using the treasury stock method, which assumes any proceeds that could be obtained upon the vesting of nonvested shares would be used to purchase common shares at the average market price for the period. On July 29, 2021, the Board of Directors approved a share repurchase program that authorized the repurchase of up to $150.0 million of the Company's outstanding shares of common stock. On October 28, 2021, the Board of Directors approved an increase of $80.0 million to the existing share repurchase program for a total of $230.0 million. During the year ended December 31, 2021, the Company repurchased 4,841,313 shares of its common stock for approximately $212.9 million , at an average price of $43.97 per share. The Company's practice is to retire the shares it repurchases. The following table provides a reconciliation between the computation of basic EPS and diluted EPS for the years ended December 31, 2021, 2020 and 2019 (amounts in thousands, except per share amounts): 2021 2020 2019 Net Income Attributable to PRA Group, Inc. Weighted Average Common Shares EPS Net Income Attributable to PRA Group, Inc. Weighted Average Common Shares EPS Net Income Attributable to PRA Group, Inc. Weighted Average Common Shares EPS Basic EPS $ 183,158 44,960 $ 4.07 $ 149,339 45,540 $ 3.28 $ 86,158 45,387 $ 1.90 Dilutive effect of nonvested share awards — 370 (0.03) — 320 (0.02) — 190 (0.01) Diluted EPS $ 183,158 45,330 $ 4.04 $ 149,339 45,860 $ 3.26 $ 86,158 45,577 $ 1.89 There were no options outstanding, antidilutive or otherwise, as of December 31, 2021, 2020 and 2019.

Income Taxes

Income Taxes	12 Months Ended
	Dec. 31, 2021
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes: The income tax expense recognized for the years ended December 31, 2021, 2020 and 2019 is comprised of the following (amounts in thousands): Federal State International Total For the year ended December 31, 2021: Current tax expense $ 30,659 $ 5,397 $ 11,958 $ 48,014 Deferred tax (benefit)/expense (3,056) (323) 10,182 6,803 Total income tax expense $ 27,603 $ 5,074 $ 22,140 $ 54,817 For the year ended December 31, 2020: Current tax expense $ 48,223 $ 12,416 $ 39,067 $ 99,706 Deferred tax benefit (32,699) (8,921) (16,883) (58,503) Total income tax expense $ 15,524 $ 3,495 $ 22,184 $ 41,203 For the year ended December 31, 2019: Current tax expense $ 41,391 $ 6,390 $ 9,460 $ 57,241 Deferred tax benefit (27,311) (6,030) (4,220) (37,561) Total income tax expense $ 14,080 $ 360 $ 5,240 $ 19,680 On December 22, 2017, the United States government enacted comprehensive tax legislation commonly referred to as the "Tax Act." The main impact of the Tax Act was a reduction of the U.S. federal corporate tax rate from 35% to 21% and the current taxation of international entities. New legislation and authoritative guidance as a result of the Tax Act are still being released that may impact tax amounts recorded in the financial statements. Under U.S. GAAP, the Company made an accounting policy election to treat taxes due related to global intangible low-taxed income ("GILTI") as a current-period expense when incurred. On March 27, 2020, the Coronavirus Aid, Relief, and Economic Security Act was enacted into U.S. law in response to COVID-19, with varying legislation enacted in many of the other countries in which the Company operates. The Company has implemented the tax payment and filing deferral provisions as applicable on a global basis and does not believe that any of the other provisions will have a material impact to its financial reporting. COVID-19 related legislation and administrative releases are monitored by the Company. A reconciliation of the Company's expected tax expense at the U.S. statutory federal tax rate to actual tax expense/(benefit) for the years ended December 31, 2021, 2020 and 2019 is as follows (amounts in thousands): 2021 2020 2019 Income tax expense at statutory federal rates $ 52,568 $ 43,878 $ 24,645 State tax expense, net of federal tax benefit 4,303 2,449 161 Tax impact on international earnings, excluding uncertain tax positions (4,449) (29,992) (7,326) Uncertain tax positions on international earnings — 23,917 — Other 2,395 951 2,200 Total income tax expense $ 54,817 $ 41,203 $ 19,680 The Company recognized a net deferred tax asset of $31.1 million and $42.3 million as of December 31, 2021 and 2020, respectively. The components of the net deferred tax are as follows (amounts in thousands): 2021 2020 Deferred tax assets: Employee compensation $ 8,609 $ 8,770 Net operating loss carryforward 121,035 117,889 Interest 10,160 12,840 Finance receivable revenue recognition - international 2,351 17,160 Lease liability 11,811 14,478 Other 4,873 6,348 Valuation allowance (75,375) (73,595) Total deferred tax asset 83,464 103,890 Deferred tax liabilities: Property and equipment (5,075) (6,214) Intangible assets and goodwill (4,185) (3,245) ROU asset (10,884) (13,509) Convertible debt — (5,113) Finance receivable revenue recognition - domestic (32,189) (33,471) Total deferred tax liability (52,333) (61,552) Net deferred tax asset/(liability) $ 31,131 $ 42,338 A valuation allowance for deferred tax assets is recognized and charged to earnings in the period such determination is made, if it is determined that it is more likely than not that the deferred tax asset will not be realized. If the Company subsequently realized deferred tax assets that were previously determined to be unrealizable, the respective valuation allowance would be reversed, resulting in a positive adjustment to earnings in the period such determination is made. The determination for a valuation allowance is made on a jurisdiction-by-jurisdiction basis. At December 31, 2021 and 2020, the valuation allowance, relating mainly to net operating losses, capital losses and deferred interest expense in Norway, Poland, Luxembourg, Sweden and Switzerland was $75.4 million and $73.6 million, respectively. The increase in the valuation allowance is primarily related to foreign tax credits in Sweden. The Company believes it is more likely than not that the results of future operations will generate sufficient taxable income to realize the remaining net deferred tax assets. ASC Topic 740 "Income Taxes" ("ASC 740") requires the recognition of interest if the tax law would require interest to be paid on the underpayment of taxes, and recognition of penalties if a tax position does not meet the minimum statutory threshold to avoid payment of penalties. The Company believes it has sufficient support for the technical merits of its positions and that it is more likely than not these positions will be sustained. Accordingly, the Company has not accrued for interest or penalties on any of its tax positions, except as noted for uncertain tax positions. At December 31, 2021, the tax years subject to examination by the major federal, state and international taxing jurisdictions are 2015 and subsequent years. As of December 31, 2021, the cumulative unremitted earnings of the Company's international subsidiaries were approximately $116.3 million. The Company intends for predominantly all international earnings to be indefinitely reinvested in its international operations and, therefore, the recording of deferred tax liabilities for such unremitted earnings is not required. It is impracticable to determine the total amount of unrecognized deferred taxes with respect to these indefinitely reinvested earnings. The Company's non-U.S. subsidiaries had $514.4 million and $517.0 million of net operating loss carryforwards as of December 31, 2021 and 2020, respectively. There are $276.6 million and $275.3 million of valuation allowances recorded to offset those losses as of December 31, 2021 and 2020, respectively. The net operating losses do not expire under most local laws and the remaining jurisdictions allow for a seven Uncertain Tax Positions ASC 740 prescribes a recognition threshold and measurement attribute for a tax position taken or expected to be taken in a tax return. Under ASC 740, an entity should recognize a financial statement benefit for a tax position if it determines that it is more likely than not that the position will be sustained upon examination. The balance for unrecognized tax benefits at December 31, 2021 and 2020, was $114.3 million and $110.4 million, respectively. The unrecognized tax benefits recorded in 2021 are included in the provision for income taxes. The following is a reconciliation of gross unrecognized tax benefits for the year ended December 31, 2021 and 2020 (amounts in thousands): 2021 2020 Balance at beginning of year $ 110,425 $ — Additions, based on tax positions related to current year (1) — 32,673 Additions, based on tax positions related to prior year (2) 3,869 77,752 Balance at end of year $ 114,294 $ 110,425 (1) The 2020 additions relate to international transactions, primarily due to an ongoing audit of the prior year returns. (2) The 2021 additions relate to international transactions, primarily due to statutory audit adjustments. The total amount of unrecognized tax benefits at December 31, 2021, that, if recognized, would affect the effective tax rate was $22.1 million. During the year ended December 31, 2021, the Company accrued potential interest of $1.2 million and penalties of $1.7 million related to unrecognized tax benefits.

Commitments and Contingencies

Commitments and Contingencies	12 Months Ended
	Dec. 31, 2021
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies: Employment Agreements: The Company has entered into employment agreements with each of its U.S. executive officers, which expire on December 31, 2023. Such agreements provide for base salary payments as well as potential discretionary bonuses that consider the Company's overall performance against its short and long-term financial and strategic objectives. The agreements also contain confidentiality and non-compete provisions. As of December 31, 2021, estimated future compensation under these agreements was approximately $13.0 million . Outside the U.S., the Company has entered into employment agreements with certain employees pursuant to local country regulations. Generally, these agreements do not have expiration dates. As a result it is impractical to estimate the amount of future compensation under these agreements. Accordingly, the future compensation under these agreements is not included in the $13.0 million total above. Forward Flow Agreements: The Company is party to several forward flow agreements that allow for the purchase of nonperforming loans at pre-established prices. The maximum remaining amount to be purchased under forward flow agreements at December 31, 2021 was approximately $650.6 million . Finance Receivables: Certain agreements for the purchase of finance receivables portfolios contain provisions that may, in limited circumstances, require the Company to refund a portion or all of the collections subsequently received by the Company on particular accounts. The potential refunds as of the balance sheet date are not considered to be significant. Litigation and Regulatory Matters: The Company and its subsidiaries are from time to time subject to a variety of routine legal and regulatory claims, inquiries and proceedings and regulatory matters, most of which are incidental to the ordinary course of its business. The Company initiates lawsuits against customers and is occasionally countersued by them in such actions. Also, customers, either individually, as members of a class action, or through a governmental entity on behalf of customers, may initiate litigation against the Company in which they allege that the Company has violated a state or federal law in the process of collecting on an account. From time to time, other types of lawsuits are brought against the Company. Additionally, the Company receives subpoenas and other requests or demands for information from regulators or governmental authorities who are investigating the Company's debt collection activities. The Company accrues for potential liability arising from legal proceedings and regulatory matters when it is probable that such liability has been incurred and the amount of the loss can be reasonably estimated. This determination is based upon currently available information for those proceedings in which the Company is involved, taking into account the Company's best estimate of such losses for those cases for which such estimates can be made. The Company's estimate involves significant judgment, given the varying stages of the proceedings (including the fact that many of them are currently in preliminary stages), the number of unresolved issues in many of the proceedings (including issues regarding class certification and the scope of many of the claims), and the related uncertainty of the potential outcomes of these proceedings. In making determinations of the likely outcome of pending litigation, the Company considers many factors, including, but not limited to, the nature of the claims, the Company's experience with similar types of claims, the jurisdiction in which the matter is filed, input from outside legal counsel, the likelihood of resolving the matter through alternative mechanisms, the matter's current status and the damages sought or demands made. Accordingly, the Company's estimate will change from time to time, and actual losses could be more than the current estimate. The Company believes that the estimate of the aggregate range of reasonably possible losses in excess of the amount accrued for its legal proceedings outstanding at December 31, 2021, where the range of loss can be estimated, was not material. In certain legal proceedings, the Company may have recourse to insurance or third-party contractual indemnities to cover all or portions of its litigation expenses, judgments, or settlements. Loss estimates and accruals for potential liability related to legal proceedings are typically exclusive of potential recoveries, if any, under the Company's insurance policies or third-party indemnities. The Company has not recorded any potential recoveries under the Company's insurance policies or third-party indemnities as of December 31, 2021. The matters described below fall outside of the normal parameters of the Company's routine legal proceedings. Consumer Financial Protection Bureau ("CFPB") Investigation In response to requests and civil investigative demands from the CFPB, the Company has provided certain documents and data regarding its debt collection practices to the CFPB. In December 2020, the CFPB advised the Company that the CFPB believes the Company may have violated certain provisions of the Company's Consent Order with the CFPB and applicable law and provided the Company with the opportunity to respond. The Company has discussed with the CFPB the possible resolution of the investigation. During the Company's discussions with the CFPB, the CFPB has taken positions with which the Company disagrees, including positions related to penalties, restitution and/or the adoption of new practices in the conduct of the Company's business. At this time, the Company is unable to predict the outcome of the investigation. Multi-State Investigation On November 17, 2015, the Company received civil investigative demands from multiple state Attorneys General offices ("AGOs") broadly relating to its U.S. debt collection practices. The Company believes that it has fully cooperated with the investigations and discussed potential resolution of the investigations with the AGOs. In these discussions, the AGOs have taken positions with which the Company disagrees, including positions related to penalties, restitution and/or the adoption of new practices and controls in the conduct of the Company's business. Although the Company has settled certain claims with one of the states, it is possible that one or more of the remaining individual state AGOs may file claims against the Company if the Company is unable to resolve its differences with them. Iris Pounds v. Portfolio Recovery Associates, LLC On November 21, 2016, Iris Pounds filed suit against the Company in Durham County, North Carolina alleging violations of the North Carolina Prohibited Practices by Collection Agencies Act. The purported class consists of all individuals against whom the Company had obtained a judgment by default in North Carolina on or after October 1, 2009. On December 9, 2016, the Company removed the matter to the United States District Court for the Middle District of North Carolina (the "District Court"). On March 28, 2018, the District Court entered an order remanding the matter to the North Carolina state court, which the Fourth Circuit Court of Appeals affirmed on May 17, 2018. On January 11, 2019, the Company filed motions to compel arbitration with the North Carolina state court, which was denied. The Company is seeking review of the North Carolina state court's decision to deny the Company's motion to compel arbitration. The range of loss, if any, cannot be estimated at this time due to the uncertainty surrounding liability, class certification and the interpretation of statutory damages. Telephone Consumer Protection Act ("TCPA") Litigation On January 25, 2017, the Company resolved the matter of In Re Portfolio Recovery Associates, LLC Telephone Consumer Protection Act Litigation , which consisted of a number of class actions and single plaintiff claims consolidated by order of the Panel for Multi-District Litigation ("MDL"). While the settlement disposed of a large number of claims, several hundred class members opted out ("Opt-Out Plaintiffs") of that settlement. Many of these Opt-Out Plaintiffs have been consolidated before the MDL appointed court, which is the U.S. District Court for the Southern District of California, and are pending a determination on cross-motions for summary judgment. On April 1, 2021, the U.S. Supreme Court defined "automatic telephone dialing system" in its Facebook v. Duguid

Retirement Plans

Retirement Plans	12 Months Ended
	Dec. 31, 2021
Retirement Benefits [Abstract]
Retirement Plans	Retirement Plans:The Company sponsors defined contribution plans primarily in the U.S. and Europe. The U.S. plan is organized as a 401(k) plan under which all employees over 18 years of age are eligible to make voluntary contributions to the plan up to 100% of their compensation, subject to IRS limitations, after completing six months of service, as defined in the plan. The Company makes matching contributions of up to 4% of an employee's salary. For the defined contribution plans in Europe, the Company pays contributions to publicly or privately administered pension insurance plans on a mandatory, contractual or voluntary basis. Total compensation expense related to the Company's contributions was $6.5 million, $6.4 million and $5.9 million for the years ended December 31, 2021, 2020 and 2019, respectively.

Subsequent Event

Subsequent Event	12 Months Ended
	Dec. 31, 2021
Subsequent Events [Abstract]
Subsequent Events	Subsequent Event:On February 25, 2022, the Company completed its $230.0 million share repurchase program. Also on February 25, 2022, the Company's Board of Directors approved a new share repurchase program under which the Company is authorized to repurchase up to $150.0 million of its outstanding common stock. Repurchases may be made from time-to-time in open market transactions, through privately negotiated transactions, in block transactions, through purchases made in accordance with trading plans adopted under Rule 10b5-1 of the Securities Exchange Act of 1934 or other methods, subject to market and/or other conditions and applicable regulatory requirements. The new share repurchase program has no stated expiration date and does not obligate the Company to repurchase any specified amount of shares, remains subject to the discretion of the Board of Directors and, subject to compliance with applicable laws, may be modified, suspended or discontinued at any time.

General and Summary of Signif_2

General and Summary of Significant Accounting Policies (Policy)	12 Months Ended
	Dec. 31, 2021
Accounting Policies [Abstract]
Basis of presentation	Basis of presentation: The Consolidated Financial Statements of the Company are prepared in accordance with U.S. generally accepted accounting principles ("GAAP"). The preparation of the Consolidated Financial Statements in conformity with GAAP requires management to make estimates and assumptions that affect reported amounts and disclosures. Realized results could differ from those estimates and assumptions. Changes in accounting principles: Beginning January 1, 2021, the Company implemented Accounting Standards Update ("ASU") 2020-06 Debt-Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging-Contracts in Entity’s Own Equity (Subtopic 815-40): Accounting for Convertible Instruments and Contracts in an Entity’s Own Equity ("ASU 2020-06") using a modified retrospective method. See Convertible Notes accounting policy below for more information.
Consolidation	Consolidation : The Consolidated Financial Statements include the accounts of PRA Group and other entities in which the Company has a controlling interest. All significant intercompany accounts and transactions have been eliminated. Entities in which the Company has a controlling financial interest, through ownership of the majority of the entities’ voting equity interests, or through other contractual rights that give the Company control, consist of entities that purchase and collect on portfolios of nonperforming loans. Investments in companies in which the Company has significant influence over operating and financing decisions, but does not own a majority of the voting equity interests, are accounted for in accordance with the equity method of accounting, which requires the Company to recognize its proportionate share of the entity’s net earnings. These investments are included in Other assets, with income or loss included in Other revenue. The Company performs on-going reassessments whether changes in the facts and circumstances regarding the Company’s involvement with an entity cause the Company’s consolidation conclusion to change.
Reclassification of prior year presentation and correction of immaterial errors	Reclassification of prior year presentation: Certain prior year amounts have been reclassified for consistency with the current year presentation. Other receivables and Restricted cash are now included within Other assets on the Consolidated Balance Sheets. They were previously separate line items.
Foreign currency	Foreign currency: Assets and liabilities have been translated to the reporting currency using the exchange rates in effect on the Consolidated Balance Sheets dates. Equity accounts are translated at historical rates, except for the change in retained earnings during the year, which is the result of the income statement translation process. Revenue and expense accounts are translated using the weighted average exchange rate during the period. The cumulative translation adjustments associated with the net assets of international subsidiaries are recorded in Accumulated other comprehensive loss in the accompanying Consolidated Statements of Changes in Equity.
Segments	Segments: The Company has determined that it has two operating segments that meet the aggregation criteria of ASC 280, Segment Reporting ("ASC 280"), and, therefore, it has one reportable segment, accounts receivable management.
Cash and cash equivalents	Cash and cash equivalents: The Company considers all highly liquid investments with a maturity of three months or less when purchased to be cash equivalents. Restricted cash : Cash that is subject to legal restrictions or is unavailable for general operating purposes is classified as restricted cash and included in Other assets on the Company's Consolidated Balance Sheets.
Concentrations of credit risk	Concentrations of credit risk: Financial instruments, which potentially expose the Company to concentrations of credit risk, consist primarily of cash and cash equivalents, investments, derivative instruments and finance receivables.
Accumulated other comprehensive income/(loss)	Accumulated other comprehensive loss: The Company records unrealized gains and losses on certain available-for-sale investments and foreign currency translation adjustments in other comprehensive income ("OCI"). Unrealized gains and losses on available for sale investments are reclassified to earnings as the gains or losses are realized upon sale of the securities. Translation gains or losses on foreign currency translation adjustments are reclassified to earnings upon the substantial sale or liquidation of investments in international operations. For the Company’s financial derivative instruments that are designated as hedging instruments, the change in fair value of the derivative is recorded in OCI.
Investments	Investments: Debt Securities: The Company determines the appropriate classification of its investments in debt securities at the time of purchase and reevaluates such determinations at each balance sheet date. Debt securities are classified as held-to-maturity when the Company has the positive intent and ability to hold the securities to maturity. Held-to-maturity securities are carried at amortized cost. Debt securities for which the Company does not have the intent or ability to hold to maturity are classified as available-for-sale. Available-for-sale securities are carried at fair market value. Fair value is determined using quoted market prices. Unrealized gains and losses are included in comprehensive income and reported in stockholders' equity. The Company evaluates debt securities for impairment. When there has been a decline in fair value below the amortized cost, the Company recognizes an impairment if: (1) it has the intent to sell the security; (2) it is more likely than not that it will be required to sell the security before recovery of the amortized cost; or (3) it does not expect to recover the entire amortized cost of the security. If the Company identifies that the decline in fair value has resulted from credit losses, the credit loss component is recognized as an allowance on the Consolidated Balance Sheets with a corresponding charge to Other expense on the Consolidated Income Statements. The non-credit loss component remains in Other comprehensive loss until realized from a sale or subsequent impairment. Equity Securities: Investments in equity securities are measured at fair value with changes in unrealized gains and losses reported in earnings. Equity Method Investments: Equity investments that are not consolidated, but over which the Company exercises significant influence, are accounted for as equity method investments. Whether or not the Company exercises significant influence with respect to an investee company depends on an evaluation of several factors including, among others, representation on the investee company’s board of directors and ownership level, which is generally a 20% to 50% interest in the voting securities of the investee company. Under the equity method of accounting, an investee company’s accounts are not reflected within the Company’s Consolidated Balance Sheets and Income Statements; however, the Company’s share of the earnings or losses of the investee company is reflected in the caption ‘‘Other revenue’’ in the Consolidated Income Statements. The Company’s carrying value in an equity method investee company is reflected in the caption ‘‘Investments’’ in the Company’s Consolidated Balance Sheets. When the Company’s carrying value in an equity method investee company is reduced to zero, no further losses are recorded in the Company’s Consolidated Financial Statements unless the Company guaranteed obligations of the investee company or has committed additional funding. When the investee company subsequently reports income, the Company will not record its share of such income until it equals the amount of its share of losses not previously recognized.
Finance receivables and income recognition	Finance receivables and income recognition: The Company's financial assets (or a group of financial assets) are measured at amortized cost and presented at the net amount expected to be collected. Credit quality information : The Company acquires portfolios of accounts that have experienced deterioration of credit quality between origination and the Company's acquisition of the accounts. The amount paid for a portfolio reflects the Company's determination that it is probable the Company will be unable to collect all amounts due according to an account's contractual terms. The Company accounts for the portfolios in accordance with the guidance for purchased credit deteriorated ("PCD") assets. The initial allowance for credit losses is added to the purchase price rather than recorded as a credit loss expense. The Company has established a policy to write off the amortized cost of individual assets when it deems probable that it will not collect on an individual asset. Due to the deteriorated credit quality of the individual accounts, the Company may write off the unpaid principal balance of all accounts in a portfolio at the time of acquisition. However, when the Company has an expectation of collecting cash flows at the portfolio level, a negative allowance is established for expected recoveries at an amount not to exceed the amount paid for the financial portfolios. The negative allowance is recorded as an asset and presented as Finance receivables, net on the Company's Consolidated Balance Sheets. Portfolio segments : The Company develops systematic methodologies to determine its allowance for credit losses at the portfolio segment level. The Company’s nonperforming loan portfolio segments consist of two broad categories: Core and Insolvency. The Company’s Core portfolios contain loan accounts that are in default, which were purchased at a substantial discount to face value because either the credit originator and/or other third-party collection agencies have been unsuccessful in collecting the full balance owed. The Company’s Insolvency portfolios contain loan accounts that are in default and the customer is involved in a bankruptcy or insolvency proceeding and the accounts were purchased at a substantial discount to face value. Each of the two broad portfolio segments of purchased nonperforming loan portfolios consist of large numbers of homogeneous receivables with similar risk characteristics. Effective interest rate and accounting pools : Within each portfolio segment, the Company pools accounts with similar risk characteristics that are acquired in the same year. Similar risk characteristics generally include portfolio segment and geographic region. The initial effective interest rate of the pool is established based on the purchase price and expected recoveries of each individual purchase at the purchase date. During the year of acquisition, the annual pool is aggregated, and the blended effective interest rate will adjust to reflect new acquisitions and new cash flow estimates until the end of the year. The effective interest rate for a pool is fixed for the remaining life of the pool once the year has ended. Methodology : The Company develops its estimates of expected recoveries in the Consolidated Balance Sheets by applying discounted cash flow methodologies to its estimated remaining collections ("ERC") and recognizes income over the estimated life of the pool at the constant effective interest rate of the pool. Subsequent changes (favorable and unfavorable) in expected cash flows are recognized within Changes in expected recoveries in the Consolidated Income Statements by adjusting the present value of increases or decreases in ERC at a constant effective interest rate. Amounts included in the estimate of recoveries do not exceed the aggregate amount of the amortized cost basis previously written off or expected to be written off. The measurement of expected recoveries is based on relevant information about past events, including historical experience, current conditions, and reasonable and supportable forecasts that affect the collectability of the reported amount. Development of the Company’s forecasts rely on both quantitative and qualitative factors. Qualitative factors can include both external and internal information and consider management’s view on available facts and circumstances at each reporting period. More specifically, external factors that may have an impact on the collectability, and subsequently on the overall profitability of acquired portfolios of nonperforming loans, would include new laws or regulations relating to collections, new interpretations of existing laws or regulations, and the overall condition of the economy. Internal factors that may have an impact on the collectability, and subsequently the overall profitability of acquired portfolios of nonperforming loans, would include necessary revisions to initial and post-acquisition scoring and modeling estimates, operational activities, expected impact of operational strategies and changes in productivity related to turnover and tenure of the Company's collection staff. Portfolio income : The recognition of income on expected recoveries is based on the constant effective interest rate established for a pool. Changes in expected recoveries : The activity consists of differences between actual recoveries compared to expected recoveries for the reporting period, as well as the net present value of increases or decreases in ERC at the constant effective interest rate. Agreements to acquire the aforementioned receivables include general representations and warranties from the sellers covering matters such as account holder death or insolvency and accounts settled or disputed prior to sale. The representation and warranty period permitting the return of these accounts from the Company to the seller is typically 90 to 180 days, with certain international agreements extending as long as 24 months. Any funds received from the seller as a return of purchase price are referred to as buybacks. Buyback funds are included in changes in expected recoveries when received. Fees paid to third parties other than the seller related to the direct acquisition of a portfolio of accounts are expensed when incurred.
Fee income recognition	Fee income recognition: The Company recognizes revenue from its class action claims recovery services when there is persuasive evidence that an arrangement exists, delivery has occurred or services have been rendered, the amount is fixed or determinable, and collectability is reasonably assured.
Property and equipment	Property and equipment: Property and equipment, including improvements that significantly add to the productive capacity or extend useful life, are recorded at cost. Maintenance and repairs are expensed as incurred. Property and equipment are depreciated over their useful lives using the straight-line method of depreciation. Software and computer equipment are generally amortized or depreciated over three three ten
Goodwill	Goodwill: Goodwill is not amortized but rather is reviewed for impairment annually or more frequently if indicators of potential impairment exist. The Company performs its annual assessment of goodwill as of October 1. The Company may first assess qualitative factors to determine whether it is more likely than not that the fair value of a reporting unit is less than its carrying amount, including goodwill. If management concludes that it is more likely than not that the fair value of a reporting unit is less than its carrying amount, an impairment loss is recognized. The loss will be recorded at the amount by which the carrying amount exceeds the reporting unit’s fair value, not to exceed the total amount of goodwill allocated to the respective reporting unit.
Convertible senior notes	Convertible Notes: The Company has outstanding 3.50% Convertible Notes due 2023 (the "2023 Notes" or "Convertible Notes"). On January 1, 2021, the Company adopted ASU 2020-06 using a modified retrospective method. ASU 2020-06 reduces the number of accounting models for convertible debt instruments and convertible preferred stock. Additionally, ASU 2020-06 removes certain settlement conditions that are required for equity contracts to qualify for the derivative scope exception and simplifies the diluted earnings per share ("EPS") calculation in certain areas. Under ASU 2020-06, the embedded conversion features are no longer separated from the host contract for convertible instruments with conversion features that are not required to be accounted for as derivatives or that do not result in substantial premiums accounted for as paid-in capital. Consequently, a convertible debt instrument is accounted for as a single liability measured at its amortized cost. Upon adoption, the Company made adjustments that increased retained earnings by $12.0 million, reduced additional paid-in capital by $26.7 million and increased the net carrying amount of the 2023 Notes by $19.8 million. Additionally, for the year ended December 31, 2021, the effect of adoption reduced interest expense by $8.2 million, increased net income by $6.4 million and impacted EPS by $0.14 per share. For more information on the 2023 Notes, see Note 6 . Prior to ASU 2020-06, the Company accounted for its Convertible Notes by separately accounting for the liability and equity components in a manner that reflected the entity's nonconvertible debt borrowing rate when interest cost was recognized in subsequent periods. The excess of the principal amount of the liability component over its carrying amount was amortized to interest expense over the expected life of a similar liability that did not have an associated equity component, using the effective interest method. The equity component was not remeasured as long as it continued to meet the conditions for equity classification. Transaction costs incurred with third parties were allocated to the liability and equity components in proportion to the allocation of proceeds and accounted for as debt issuance costs and equity issuance costs, respectively.
Income taxes	Income taxes: The Company records a tax provision for the anticipated tax consequences of the reported results of operations. The provision for income taxes is estimated using the asset and liability method, under which deferred tax assets and liabilities are recognized for the expected future tax consequences of temporary differences between the financial reporting and tax basis of assets and liabilities, and for operating losses and tax credit carryforwards. Deferred tax assets and liabilities are measured using the currently enacted tax rates that apply to taxable income in effect for the years in which those tax assets are expected to be realized or settled. The Company is subject to income taxes throughout the U.S. and in numerous international jurisdictions. The Company recognizes the financial statement benefits of a tax position if it is more likely than not to be sustained in the event of challenges by relevant taxing authorities based on the technical merit. The amounts of benefit to recognize in the financial statements are the largest benefits that have a greater than 50 percent likelihood of being realized upon settlement with the relevant tax authorities. The Company records interest and penalties related to unrecognized tax benefits as a component of income tax expense when the more likely than not standards are not met. In preparation of the Consolidated Financial Statements, the Company exercises significant judgment in estimating the potential exposure to unresolved tax matters and applies a more likely than not criteria approach for recording tax benefits related to uncertain tax positions in the application of complex tax laws. While actual results could vary, the Company believes it has adequate tax accruals with respect to the ultimate outcome of such tax matters. The Company establishes a valuation allowance when it determines all or part of the deferred tax assets are not realizable. If the Company subsequently realizes deferred tax assets that were previously determined to be unrealizable, the respective valuation allowance would be reversed, resulting in a positive adjustment to earnings .
Operating leases	Leases: The Company recognizes a liability for future lease payments and a right-of-use ("ROU") asset representing its right to use the underlying asset for the lease term on the balance sheet. The Company's operating lease portfolio primarily includes corporate offices and call centers. The majority of its leases have remaining lease terms of one year to 14 years, some of which include options to extend the leases for up to five years, and others include options to terminate the leases within one year. Exercises of lease renewal options are typically at the Company's sole discretion and are included in its ROU assets and lease liabilities based upon whether the Company is reasonably certain of exercising the renewal options. The Company has lease agreements with lease and non-lease components, which are generally accounted for separately. The Company's lease agreements do not contain any material residual value guarantees or material restrictive covenants.
Share-based compensation	Share-based compensation: Compensation expense associated with share equity awards are recognized in the income statement. The Company determines stock-based compensation expense for all share-based payment awards based on the measurement date fair value. The Company has certain share awards that include market conditions that affect vesting. The fair value of these shares is estimated using a lattice model. Compensation cost is not adjusted if the market condition is not met, as long as the requisite service is provided. The Company estimates a forfeiture rate for most equity share grants based on historical experience. Time-based equity share awards generally vest between one Note 1 1 for additional information.
Derivatives	Derivatives: The Company periodically enters into derivative financial instruments, typically interest rate swap agreements, interest rate caps, and foreign currency contracts to reduce its exposure to fluctuations in interest rates on variable-rate debt and foreign currency exchange rates. The Company does not utilize derivative financial instruments with a level of complexity or with a risk greater than the exposure to be managed nor does it enter into or hold derivatives for trading or speculative purposes. All of the Company's outstanding derivative financial instruments are recognized in the balance sheet at their fair values. The effect on earnings from recognizing the fair values of these derivative financial instruments depends on their intended use, their hedge designation, and their effectiveness in offsetting changes in the fair values of the exposures they are hedging. Changes in the fair values of instruments designated to reduce or eliminate adverse fluctuations in the fair values of recognized assets and liabilities and unrecognized firm commitments are reported in earnings along with changes in the fair values of the hedged items. Changes in the effective portions of the fair values of instruments used to reduce or eliminate adverse fluctuations in cash flows of anticipated or forecasted transactions are reported in equity as a component of Accumulated other comprehensive loss. Amounts in Accumulated other comprehensive loss are reclassified to earnings when the related hedged items affect earnings or the anticipated transactions are no longer probable. Changes in the fair values of derivative instruments that are not designated as hedges or do not qualify for hedge accounting treatment are reported in earnings. The Company realizes gains and losses from derivative instruments in the same financial statement line item as the hedged item/forecasted transaction. Changes in unrealized gains and losses for derivatives not designated in a hedge accounting relationship are recorded directly in earnings each period and are also recorded in the same financial statement line item as the hedged item/forecasted transaction. Cash flows from the settlement of derivatives, including both economic hedges and those designated in hedge accounting relationships, appear in the Consolidated Statements of Cash Flows in the same categories as the cash flows of the hedged item. For derivative financial instruments accounted for as hedging instruments, the Company formally designates and documents, at inception, the financial instrument as a hedge of a specific underlying exposure, the risk management objective, and the manner in which effectiveness of the hedge will be assessed. The Company formally assesses, both at inception and at each reporting period thereafter, whether the derivative financial instruments used in hedging transactions are effective in offsetting changes in fair value or cash flows of the related underlying exposures. In 2020, the Company adopted ASU 2020-04, "Reference Rate Reform (Topic 848): Facilitation of the Effect of Reference Rate Reform on Financial Reporting" ("ASU 2020-04"). ASU 2020-04 is effective for a limited time through December 31, 2022 and allows the Company to elect certain expedients to continue accounting for its interest rate swaps contracts designated as cash flow hedges.
Use of estimates	Use of estimates: The preparation of the Consolidated Financial Statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the Consolidated Financial Statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Significant estimates have been made by management with respect to the timing and amount of future cash collections of the Company's finance receivables portfolios. Actual results could differ from these estimates making it reasonably possible that a change in these estimates could occur within one year.
Commitments and contingencies	Commitments and contingencies: The Company is subject to various claims and contingencies related to lawsuits, certain taxes and commitments under contractual and other obligations. The Company recognizes liabilities for commitments and contingencies when a loss is probable and estimable. The Company expenses related legal costs as incurred. See Note 1 4 for additional information.
Estimated fair value of financial instruments	Estimated fair value of financial instruments: Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. The Company takes into consideration differing levels of inputs in the determination of fair values. Disclosure of the estimated fair values of financial instruments often requires the use of estimates. See Note 8 for additional information.
Recent accounting pronouncements	Recent accounting pronouncements: Recently issued accounting standards adopted: Income Taxes In December 2019, the Financial Accounting Standards Board ("FASB") issued ASU 2019-12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes ("ASU 2019-12"). ASU 2019-12 removes certain exceptions for recognizing deferred taxes for investments and calculating income taxes in interim periods. Additionally, the standard adds guidance to reduce complexity in certain areas, including recognizing taxes for tax goodwill and allocating taxes to members of a consolidated group. ASU 2019-12 is effective for annual and interim periods beginning after December 15, 2020 on a prospective basis. The Company adopted ASU 2019-12 on January 1, 2021 with no material impact to the Company's Consolidated Financial Statements upon adoption. Investments - Equity Securities In January 2020, the FASB issued ASU 2020-01 “Investments-Equity Securities (Topic 321), Investments-Equity Method and Joint Ventures (Topic 323), and Derivatives and Hedging (Topic 815)-Clarifying the Interactions between Topic 321, Topic 323, and Topic 815” ("ASU 2020-01"). ASU 2020-01 clarifies that a company should consider observable transactions that require a company to either apply or discontinue the equity method of accounting under Topic 323, Investments - Equity Method and Joint Ventures, for the purposes of applying the measurement alternative in accordance with Topic 321 immediately before applying or upon discontinuing the equity method. Additionally, it clarifies that, when determining the accounting for certain forward contracts and purchased options a company should not consider, whether upon settlement or exercise, if the underlying securities would be accounted for under the equity method or fair value option. The Company adopted ASU 2020-01 on January 1, 2021 with no impact to the Company's Consolidated Financial Statements upon adoption. Accounting for Convertible Instruments Effective January 1, 2021, the Company early adopted ASU 2020-06. Refer to the Convertible Notes accounting policy above. Reference Rate Reform In January 2021, the FASB issued ASU 2021-01, "Reference Rate Reform (Topic 848): Overall" ("ASU 2021-01"). ASU 2021-01 expands the scope of ASC 848 to include derivatives affected by the discounting transition for certain optional expedients and exceptions. ASU 2021-01 is effective immediately for a limited time through December 31, 20 22. The Company is evaluating the effect of ASU 2020-01 but does not expect transition to an alternative reference rate will have a material impact on the Company's Consolidated Financial Statements. Recently issued accounting standards not yet adopted: The Company does not expect that any other recently issued accounting pronouncements will have a material impact on its Consolidated Financial Statements.

General and Summary of Signif_3

General and Summary of Significant Accounting Policies (Tables)	12 Months Ended
	Dec. 31, 2021
Accounting Policies [Abstract]
Schedule of Revenues and Long-lived Assets by Geographical Location	Revenue for the years ended December 31, 2021, 2020 and 2019, and long-lived assets held at December 31, 2021 and 2020, both for the U.S., the Company's country of domicile, and outside of the U.S. were (amounts in thousands): 2021 2020 2019 2021 2020 Revenues (2) Long-Lived Assets United States $ 651,991 $ 677,234 $ 673,264 $ 87,881 $ 99,271 United Kingdom 175,383 132,749 120,377 7,264 2,500 Others (1) 268,358 255,431 223,440 16,081 9,536 Total $ 1,095,732 $ 1,065,414 $ 1,017,081 $ 111,226 $ 111,307 (1) None of the countries included in "Others" comprise greater than 10% of the Company's consolidated revenues or long-lived assets. (2) Based on the Company’s financial statement information used to produce the Company's general-purpose financial statements, it is impracticable to report further breakdowns of revenues from external customers by product or service.

Finance Receivables, net (Table

Finance Receivables, net (Tables)	12 Months Ended
	Dec. 31, 2021
Receivables [Abstract]
Schedule of Finance Receivables, Net	Finance receivables, net consisted of the following at December 31, 2021 and 2020 (amounts in thousands): 2021 2020 Amortized cost $ — $ — Negative allowance for expected recoveries (1) 3,428,285 3,514,788 Balance at end of year $ 3,428,285 $ 3,514,788
Schedule of Changes in Negative Allowance for Expected Recoveries	Changes in the negative allowance for expected recoveries by portfolio segment for the years ended December 31, 2021 and 2020 were as follows (amounts in thousands): 2021 Core Insolvency Total Balance at beginning of year $ 3,019,477 $ 495,311 $ 3,514,788 Initial negative allowance for expected recoveries - portfolio acquisitions (1) 863,379 108,901 972,280 Foreign currency translation adjustment (68,544) (2,189) (70,733) Recoveries applied to negative allowance (2) (1,002,400) (183,554) (1,185,954) Changes in expected recoveries (3) 178,020 19,884 197,904 Balance at end of year $ 2,989,932 $ 438,353 $ 3,428,285 2020 Core Insolvency Total Balance at beginning of year $ 3,051,426 $ 462,739 $ 3,514,165 Initial negative allowance for expected recoveries - portfolio acquisitions (1) 742,583 162,535 905,118 Foreign currency translation adjustment 54,735 9,132 63,867 Recoveries applied to negative allowance (2) (891,925) (145,734) (1,037,659) Changes in expected recoveries (3) 62,658 6,639 69,297 Balance at end of year $ 3,019,477 $ 495,311 $ 3,514,788 (1) Initial negative allowance for expected recoveries - portfolio acquisitions Portfolio acquisitions for the years ended December 31, 2021 and 2020 were as follows (amounts in thousands): 2021 Core Insolvency Total Face value $ 5,917,827 $ 508,868 $ 6,426,695 Noncredit discount (696,983) (37,202) (734,185) Allowance for credit losses at acquisition (4,357,465) (362,765) (4,720,230) Purchase price $ 863,379 $ 108,901 $ 972,280 2020 Core Insolvency Total Face value $ 5,820,159 $ 887,134 $ 6,707,293 Noncredit discount (710,636) (53,357) (763,993) Allowance for credit losses at acquisition (4,366,940) (671,242) (5,038,182) Purchase price $ 742,583 $ 162,535 $ 905,118 The initial negative allowance recorded on portfolio acquisitions for the years ended December 31, 2021 and 2020 were as follows (amounts in thousands): 2021 Core Insolvency Total Allowance for credit losses at acquisition $ (4,357,465) $ (362,765) $ (4,720,230) Writeoffs, net 4,357,465 362,765 4,720,230 Expected recoveries 863,379 108,901 972,280 Initial negative allowance for expected recoveries $ 863,379 $ 108,901 $ 972,280 2020 Core Insolvency Total Allowance for credit losses at acquisition $ (4,366,940) $ (671,242) $ (5,038,182) Writeoffs, net 4,366,940 671,242 5,038,182 Expected recoveries 742,583 162,535 905,118 Initial negative allowance for expected recoveries $ 742,583 $ 162,535 $ 905,118 (2) Recoveries applied to negative allowance Recoveries applied to the negative allowance for the years ended December 31, 2021 and 2020 were as follows (amounts in thousands): 2021 Core Insolvency Total Recoveries (a) $ 1,818,635 $ 242,646 $ 2,061,281 Less - amounts reclassified to portfolio income 816,235 59,092 875,327 Recoveries applied to negative allowance $ 1,002,400 $ 183,554 $ 1,185,954 2020 Core Insolvency Total Recoveries (a) $ 1,803,480 $ 218,215 $ 2,021,695 Less - amounts reclassified to portfolio income 911,555 72,481 984,036 Recoveries applied to negative allowance $ 891,925 $ 145,734 $ 1,037,659 (a) Recoveries includes cash collections, buybacks and other cash-based adjustments. (3) Changes in expected recoveries Changes in expected recoveries for the years ended December 31, 2021 and 2020 were as follows (amounts in thousands): 2021 Core Insolvency Total Changes in expected future recoveries $ (35,432) $ (16,816) $ (52,248) Recoveries received in excess of forecast 213,452 36,700 250,152 Changes in expected recoveries $ 178,020 $ 19,884 $ 197,904 2020 Core Insolvency Total Changes in expected future recoveries $ (207,982) $ (5,289) $ (213,271) Recoveries received in excess of forecast 270,640 11,928 282,568 Changes in expected recoveries $ 62,658 $ 6,639 $ 69,297

Investments (Tables)

Investments (Tables)	12 Months Ended
	Dec. 31, 2021
Investments, Debt and Equity Securities [Abstract]
Summary of Investments	Investments consisted of the following at December 31, 2021 and 2020 (amounts in thousands): 2021 2020 Debt securities Available-for-sale $ 77,538 $ 5,368 Equity securities Exchange traded funds 1,746 34,847 Private equity funds 5,137 6,123 Mutual funds 508 1,023 Equity method investments 8,048 8,398 Total investments $ 92,977 $ 55,759
Unrealized Gain (Loss) on Investments	The amortized cost and estimated fair value of investments in debt securities at December 31, 2021 and 2020 were as follows (amounts in thousands): 2021 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Aggregate Fair Value Available-for-sale Government securities $ 77,757 $ — $ 219 $ 77,538 2020 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Aggregate Fair Value Available-for-sale Government securities $ 5,239 $ 129 $ — $ 5,368

Leases (Tables)

Leases (Tables)	12 Months Ended
	Dec. 31, 2021
Leases [Abstract]
Lease, Cost	The components of lease expense for the years ended December 31, 2021 and 2020 were as follows (amounts in thousands): 2021 2020 Operating lease expense $ 12,256 $ 12,263 Short-term lease expense 2,986 2,598 Sublease income (196) — Total lease expense $ 15,046 $ 14,861 Supplemental cash flow information and non-cash activity related to leases for the years ended December 31, 2021 and 2020 were as follows (amounts in thousands): 2021 2020 Cash paid for amounts included in the measurement of operating lease liabilities $ 12,034 $ 12,416 ROU assets obtained/(disposed), net in exchange for operating lease obligations $ 13,525 $ (7,506) Lease term and discount rate information related to operating leases were as follows as of the date indicated: 2021 2020 Weighted-average remaining lease terms (years) 8.6 9.1 Weighted-average discount rate 4.5 % 4.7 %
Lessee, Operating Lease, Liability, Maturity	Maturities of lease liabilities at December 31, 2021, are as follows for the years ending December 31, (amounts in thousands): Operating Leases 2022 $ 11,231 2023 9,288 2024 8,851 2025 8,673 2026 7,671 Thereafter 28,512 Total lease payments $ 74,226 Less: imputed interest 13,038 Total present value of lease liabilities $ 61,188

Goodwill and Intangible Asset_2

Goodwill and Intangible Assets, net (Tables)	12 Months Ended
	Dec. 31, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Changes in Goodwill	The following table represents the changes in goodwill for the years ended December 31, 2021 and 2020 (amounts in thousands): 2021 2020 Balance at beginning of year $ 492,989 $ 480,794 Change in foreign currency translation adjustment (12,726) 12,195 Balance at end of year $ 480,263 $ 492,989

Borrowings (Tables)

Borrowings (Tables)	12 Months Ended
	Dec. 31, 2021
Debt Disclosure [Abstract]
Schedule of Debt	The Company's borrowings consisted of the following as of December 31, 2021 and 2020 (amounts in thousands): 2021 2020 Americas revolving credit (1) $ 372,119 $ 405,706 Europe revolving credit 795,687 1,171,890 Term loan 460,000 470,000 Senior Notes 650,000 300,000 Convertible Notes 345,000 345,000 2,622,806 2,692,596 Less: Debt discount and issuance costs (14,092) (31,307) Total $ 2,608,714 $ 2,661,289 (1) Includes a credit agreement with Banco de Occidente in an aggregate amount of approximately $1.0 million. As of December 31, 2021, the outstanding balance under the credit agreement was approximately $0.9 million, with an interest rate of 5.85%.
Schedule of Maturities of Long-term Debt	The following principal payments are due on the Company's borrowings at December 31, 2021 for the years ending December 31, (amounts in thousands): 2022 $ 10,300 2023 1,150,986 2024 10,300 2025 310,000 2026 791,220 Thereafter 350,000 Total $ 2,622,806
Schedule of Line of Credit Facilities	The outstanding balances and weighted average interest rates by type of borrowing under the credit facility as of December 31, 2021 and 2020 are as follows (dollar amounts in thousands): 2021 2020 Amount Outstanding Weighted Average Interest Rate Amount Outstanding Weighted Average Interest Rate Term loan $ 460,000 2.10 % $ 470,000 2.65 % Revolving credit facilities $ 371,220 2.14 % $ 403,669 3.25 % The outstanding balances and weighted average interest rates by type of borrowing under the European Credit Agreement as of December 31, 2021 and 2020 are as follows (dollar amounts in thousands): 2021 2020 Amount Outstanding Weighted Average Interest Rate Amount Outstanding Weighted Average Interest Rate Revolving credit facility $ 795,687 3.48 % $ 1,171,890 3.74 %
Schedule of Liability and Equity Components	The balances of the liability and equity components of the Company's Convertible Notes outstanding as of December 31, 2021 and 2020 were as follows (amounts in thousands): 2021 2020 Liability component - principal amount $ 345,000 $ 345,000 Unamortized debt discount — (20,603) Unamortized debt issuance costs (2,476) (3,335) Liability component - net carrying amount $ 342,524 $ 321,062 Equity component $ — $ 44,910
Schedule of Debt Interest Expense	Interest expense related to the Company's Convertible Notes for the years ended December 31, 2021, 2020 and 2019 was as follows (amounts in thousands): 2021 2020 (1) 2019 (1) Interest expense - stated coupon rate $ 12,075 $ 17,064 $ 20,700 Interest expense - amortization of debt discount — 10,811 12,398 Interest expense - amortization of debt issuance costs 1,660 1,989 2,424 Total interest expense - Convertible Notes $ 13,735 $ 29,864 $ 35,522 (1) 2020 and 2019 amounts include interest expense related to the Company's 3.00% Convertible Senior Notes due August 1, 2020, which were repaid in the third quarter of 2020.
Schedule of Interest Expense, Net	Interest expense, net, was as follows for the years ended December 31, 2021, 2020 and 2019 (amounts in thousands): 2021 2020 2019 Interest expense $ 125,231 $ 142,727 $ 144,165 Interest income (1,088) (1,015) (2,247) Interest expense, net $ 124,143 $ 141,712 $ 141,918

Property and Equipment, net (Ta

Property and Equipment, net (Tables)	12 Months Ended
	Dec. 31, 2021
Property, Plant and Equipment, Net [Abstract]
Property and Equipment, at Cost	Property and equipment, at cost, consisted of the following as of December 31, 2021 and 2020 (amounts in thousands): 2021 2020 Software $ 69,549 $ 66,947 Computer equipment 25,457 23,740 Furniture and fixtures 20,034 17,978 Equipment 15,297 15,137 Leasehold improvements 17,606 17,403 Building and improvements 19,456 17,905 Land 1,407 1,407 Accumulated depreciation (117,420) (105,707) Assets in process 3,127 3,546 Property and equipment, net $ 54,513 $ 58,356

Fair Value (Tables)

Fair Value (Tables)	12 Months Ended
	Dec. 31, 2021
Fair Value Disclosures [Abstract]
Carrying and Estimated Fair Value Recorded in the Consolidated Balance Sheet	The carrying amounts in the table are recorded in the Consolidated Balance Sheets at December 31, 2021 and 2020 (amounts in thousands): 2021 2020 Carrying Estimated Carrying Estimated Financial assets: Cash and cash equivalents $ 87,584 $ 87,584 $ 108,613 $ 108,613 Finance receivables, net 3,428,285 3,317,658 3,514,788 3,541,159 Financial liabilities: Interest-bearing deposits 124,623 124,623 132,739 132,739 Revolving lines of credit 1,167,806 1,167,806 1,577,596 1,577,596 Term loan 460,000 460,000 470,000 470,000 Senior Notes 650,000 673,366 300,000 324,408 Convertible Notes 345,000 406,607 324,397 376,012
Summary of Fair Value Assets Measured on a Recurring Basis	The carrying amounts in the following table are measured at fair value on a recurring basis in the accompanying Consolidated Balance Sheets at December 31, 2021 and 2020 (amounts in thousands): Fair Value Measurements as of December 31, 2021 Level 1 Level 2 Level 3 Total Assets: Government securities $ 77,538 $ — $ — $ 77,538 Exchange traded funds 1,746 — — 1,746 Mutual funds 508 — — 508 Derivative contracts (recorded in other assets) — 9,785 — 9,785 Liabilities: Derivative contracts (recorded in other liabilities) — 25,978 — 25,978 Fair Value Measurements as of December 31, 2020 Level 1 Level 2 Level 3 Total Assets: Government securities $ 5,368 $ — $ — $ 5,368 Exchange traded funds 34,847 — — 34,847 Mutual funds 1,023 — — 1,023 Derivative contracts (recorded in other assets) — 3,512 — 3,512 Liabilities: Derivative contracts (recorded in other liabilities) — 45,432 — 45,432
Summary of Fair Value Liabilities Measured on a Recurring Basis	The carrying amounts in the following table are measured at fair value on a recurring basis in the accompanying Consolidated Balance Sheets at December 31, 2021 and 2020 (amounts in thousands): Fair Value Measurements as of December 31, 2021 Level 1 Level 2 Level 3 Total Assets: Government securities $ 77,538 $ — $ — $ 77,538 Exchange traded funds 1,746 — — 1,746 Mutual funds 508 — — 508 Derivative contracts (recorded in other assets) — 9,785 — 9,785 Liabilities: Derivative contracts (recorded in other liabilities) — 25,978 — 25,978 Fair Value Measurements as of December 31, 2020 Level 1 Level 2 Level 3 Total Assets: Government securities $ 5,368 $ — $ — $ 5,368 Exchange traded funds 34,847 — — 34,847 Mutual funds 1,023 — — 1,023 Derivative contracts (recorded in other assets) — 3,512 — 3,512 Liabilities: Derivative contracts (recorded in other liabilities) — 45,432 — 45,432

Derivatives (Tables)

Derivatives (Tables)	12 Months Ended
	Dec. 31, 2021
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of Derivative Instruments	The following table summarizes the fair value of derivative instruments in the Company's Consolidated Balance Sheets as of December 31, 2021 and 2020 (amounts in thousands): 2021 2020 Balance Sheet Location Fair Value Balance Sheet Location Fair Value Derivatives designated as hedging instruments: Interest rate contracts Other assets $ 6,251 Other assets $ — Interest rate contracts Other liabilities 14,879 Other liabilities 43,017 Derivatives not designated as hedging instruments: Foreign currency contracts Other assets 3,534 Other assets 3,512 Foreign currency contracts Other liabilities 11,099 Other liabilities 2,415
Schedule of Cash Flow Hedging Instruments, Statements of Financial Performance and Financial Position, Location	The following table summarizes the effects of derivatives designated as cash flow hedging instruments on the Consolidated Financial Statements for the years ended December 31, 2021, 2020 and 2019 (amounts in thousands): Gain or (loss) recognized in OCI, net of tax Derivatives designated as cash flow hedging instruments 2021 2020 2019 Interest rate contracts $ 17,961 $ (28,101) $ (14,311) Gain or (loss) reclassified from OCI into income Location of gain or (loss) reclassified from OCI into income 2021 2020 2019 Interest expense, net $ (12,722) $ (10,027) $ (1,457)
Schedule of derivative instruments not designated as hedging instruments	The following table summarizes the effects of derivatives not designated as hedging instruments on the Company’s Consolidated Income Statements for the years ended December 31, 2021, 2020 and 2019 (amounts in thousands): Amount of gain or (loss) recognized in income Derivatives not designated as hedging instruments Location of gain or (loss) recognized in income 2021 2020 2019 Foreign currency contracts Foreign exchange gain/(loss) $ 12,160 $ 24,009 $ (7,008) Foreign currency contracts Interest expense, net 406 (2,475) (3,875) Interest rate contracts Interest expense, net — — (492)

Accumulated Other Comprehensi_2

Accumulated Other Comprehensive Loss (Tables)	12 Months Ended
	Dec. 31, 2021
Equity [Abstract]
Schedule of Accumulated Other Comprehensive Income (Loss)	The following table provides details about the reclassifications out of accumulated other comprehensive loss for the years ended December 31, 2021 and 2020 (amounts in thousands): Gains and losses on cash flow hedges 2021 2020 Affected line in the Consolidated Income Statements Interest rate swaps $ (12,722) $ (10,027) Interest expense, net Income tax effect of item above 2,705 2,187 Income tax expense Total losses on cash flow hedges $ (10,017) $ (7,840) The following table represents the changes in accumulated other comprehensive loss by component after tax, for the years ended December 31, 2021, 2020 and 2019 (amounts in thousands): Debt Securities Available for Sale Cash Flow Hedges Currency Translation Adjustment Accumulated Other Comprehensive Loss 1 Balance at December 31, 2018 $ (83) $ 44 $ (242,070) $ (242,109) Other comprehensive gain/(loss) before reclassifications 39 (14,311) (5,816) (20,088) Reclassifications, net — 1,179 — 1,179 Net current period other comprehensive gain/(loss) 39 (13,132) (5,816) (18,909) Balance at December 31, 2019 $ (44) $ (13,088) $ (247,886) $ (261,018) Other comprehensive gain/(loss) before reclassifications 171 (28,101) 35,317 7,387 Reclassifications, net — 7,840 — 7,840 Net current period other comprehensive gain/(loss) 171 (20,261) 35,317 15,227 Balance at December 31, 2020 $ 127 $ (33,349) $ (212,569) $ (245,791) Other comprehensive (loss)/gain before reclassifications (348) 17,961 (48,748) (31,135) Reclassifications, net — 10,017 — 10,017 Net current period other comprehensive (loss)/gain (348) 27,978 (48,748) (21,118) Balance at December 31, 2021 $ (221) $ (5,371) $ (261,317) $ (266,909) (1) For the years ended December 31, 2021, 2020 and 2019, net deferred taxes for unrealized losses from cash flow hedges were $3.1 million, $9.2 million and $4.4 million, respectively.

Share-Based Compensation (Table

Share-Based Compensation (Tables)	12 Months Ended
	Dec. 31, 2021
Share-based Payment Arrangement, Noncash Expense [Abstract]
Nonvested Share Transactions	The following summarizes all nonvested share activity, excluding those pursuant to the LTI program, from December 31, 2018 through December 31, 2021 (amounts in thousands, except per share amounts): Nonvested Shares Weighted-Average Balance at December 31, 2018 379 $ 34.85 Granted 329 28.47 Vested (167) 34.81 Canceled (9) 31.01 Balance at December 31, 2019 532 30.97 Granted 256 38.69 Vested (219) 31.56 Canceled (14) 33.95 Balance at December 31, 2020 555 34.23 Granted 312 38.14 Vested (320) 33.80 Canceled (37) 36.06 Balance at December 31, 2021 510 $ 36.76
Summarization of Option Related Transactions	The following table summarizes all LTI share activity from December 31, 2018 through December 31, 2021 (amounts in thousands, except per share amounts): Nonvested LTI Shares Weighted-Average Balance at December 31, 2018 454 $ 33.27 Granted at target level 168 28.28 Adjustments for actual performance (172) 28.98 Vested — — Canceled (3) 35.87 Balance at December 31, 2019 447 33.03 Granted at target level 118 39.04 Adjustments for actual performance (131) 34.44 Vested (36) 33.50 Canceled (6) 33.77 Balance at December 31, 2020 392 34.30 Granted at target level 148 37.45 Adjustments for actual performance (10) 39.40 Vested (99) 39.40 Canceled (24) 35.31 Balance at December 31, 2021 407 $ 34.01

Earnings per Share (Tables)

Earnings per Share (Tables)	12 Months Ended
	Dec. 31, 2021
Earnings Per Share [Abstract]
Reconciliation Between the Computation of Basic EPS and Diluted EPS	The following table provides a reconciliation between the computation of basic EPS and diluted EPS for the years ended December 31, 2021, 2020 and 2019 (amounts in thousands, except per share amounts): 2021 2020 2019 Net Income Attributable to PRA Group, Inc. Weighted Average Common Shares EPS Net Income Attributable to PRA Group, Inc. Weighted Average Common Shares EPS Net Income Attributable to PRA Group, Inc. Weighted Average Common Shares EPS Basic EPS $ 183,158 44,960 $ 4.07 $ 149,339 45,540 $ 3.28 $ 86,158 45,387 $ 1.90 Dilutive effect of nonvested share awards — 370 (0.03) — 320 (0.02) — 190 (0.01) Diluted EPS $ 183,158 45,330 $ 4.04 $ 149,339 45,860 $ 3.26 $ 86,158 45,577 $ 1.89

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Dec. 31, 2021
Income Tax Disclosure [Abstract]
Summary of Income Tax Expense Recognized	The income tax expense recognized for the years ended December 31, 2021, 2020 and 2019 is comprised of the following (amounts in thousands): Federal State International Total For the year ended December 31, 2021: Current tax expense $ 30,659 $ 5,397 $ 11,958 $ 48,014 Deferred tax (benefit)/expense (3,056) (323) 10,182 6,803 Total income tax expense $ 27,603 $ 5,074 $ 22,140 $ 54,817 For the year ended December 31, 2020: Current tax expense $ 48,223 $ 12,416 $ 39,067 $ 99,706 Deferred tax benefit (32,699) (8,921) (16,883) (58,503) Total income tax expense $ 15,524 $ 3,495 $ 22,184 $ 41,203 For the year ended December 31, 2019: Current tax expense $ 41,391 $ 6,390 $ 9,460 $ 57,241 Deferred tax benefit (27,311) (6,030) (4,220) (37,561) Total income tax expense $ 14,080 $ 360 $ 5,240 $ 19,680
Schedule of Reconciliation of Expected Tax Expense at The Statutory Federal Tax Rate to Actual Tax Expense	A reconciliation of the Company's expected tax expense at the U.S. statutory federal tax rate to actual tax expense/(benefit) for the years ended December 31, 2021, 2020 and 2019 is as follows (amounts in thousands): 2021 2020 2019 Income tax expense at statutory federal rates $ 52,568 $ 43,878 $ 24,645 State tax expense, net of federal tax benefit 4,303 2,449 161 Tax impact on international earnings, excluding uncertain tax positions (4,449) (29,992) (7,326) Uncertain tax positions on international earnings — 23,917 — Other 2,395 951 2,200 Total income tax expense $ 54,817 $ 41,203 $ 19,680
Summary of Components of Net Deferred Tax Liability	2021 2020 2019 Income tax expense at statutory federal rates $ 52,568 $ 43,878 $ 24,645 State tax expense, net of federal tax benefit 4,303 2,449 161 Tax impact on international earnings, excluding uncertain tax positions (4,449) (29,992) (7,326) Uncertain tax positions on international earnings — 23,917 — Other 2,395 951 2,200 Total income tax expense $ 54,817 $ 41,203 $ 19,680 The Company recognized a net deferred tax asset of $31.1 million and $42.3 million as of December 31, 2021 and 2020, respectively. The components of the net deferred tax are as follows (amounts in thousands): 2021 2020 Deferred tax assets: Employee compensation $ 8,609 $ 8,770 Net operating loss carryforward 121,035 117,889 Interest 10,160 12,840 Finance receivable revenue recognition - international 2,351 17,160 Lease liability 11,811 14,478 Other 4,873 6,348 Valuation allowance (75,375) (73,595) Total deferred tax asset 83,464 103,890 Deferred tax liabilities: Property and equipment (5,075) (6,214) Intangible assets and goodwill (4,185) (3,245) ROU asset (10,884) (13,509) Convertible debt — (5,113) Finance receivable revenue recognition - domestic (32,189) (33,471) Total deferred tax liability (52,333) (61,552) Net deferred tax asset/(liability) $ 31,131 $ 42,338
Schedule of Unrecognized Tax Benefits Roll Forward	The following is a reconciliation of gross unrecognized tax benefits for the year ended December 31, 2021 and 2020 (amounts in thousands): 2021 2020 Balance at beginning of year $ 110,425 $ — Additions, based on tax positions related to current year (1) — 32,673 Additions, based on tax positions related to prior year (2) 3,869 77,752 Balance at end of year $ 114,294 $ 110,425 (1) The 2020 additions relate to international transactions, primarily due to an ongoing audit of the prior year returns. (2) The 2021 additions relate to international transactions, primarily due to statutory audit adjustments.

General and Summary of Signif_4

General and Summary of Significant Accounting Policies (Narrative) (Details) $ / shares in Units, $ in Thousands	May 26, 2017$ / shares	Dec. 31, 2021USD ($)segment$ / shares	Dec. 31, 2020USD ($)	Dec. 31, 2019USD ($)	Jan. 01, 2021USD ($)
Accounting Policies [Line Items]
Number of reportable segments | segment		1
Percentage of income tax positions likely to be realized		50.00%
Optional extension period		5 years
Requisite service period		3 years
Possible change in estimates, in years		1 year
Operating lease, right-of-use asset		$ 56,713	$ 52,951
Operating lease, liability		61,188	57,348
Recoveries received in excess of forecast		250,152	282,568
Retained Earnings (Accumulated Deficit)		1,552,845	1,511,970
Interest Income (Expense), Net		124,143	141,712	$ 141,918
Net income		195,509	$ 167,742	$ 97,679
Accounting Standards Update 2020-06
Accounting Policies [Line Items]
Retained Earnings (Accumulated Deficit)					$ 12,000
Additional Paid in Capital					26,700
Convertible notes, carrying amount					$ 19,800
Interest Income (Expense), Net		8,200
Net income		$ 6,400
Earnings Per Share, Basic and Diluted | $ / shares		$ 0.14
Minimum
Accounting Policies [Line Items]
Remaining lease term		1 year
Options and nonvested share awards vesting period, minimum, in years		1 year
Minimum | Computer Equipment
Accounting Policies [Line Items]
Property and equipment, useful life, in years		3 years
Minimum | Equipment
Accounting Policies [Line Items]
Property and equipment, useful life, in years		5 years
Minimum | Leasehold Improvements
Accounting Policies [Line Items]
Property and equipment, useful life, in years		3 years
Minimum | Building Improvements
Accounting Policies [Line Items]
Property and equipment, useful life, in years		10 years
Maximum
Accounting Policies [Line Items]
Remaining lease term		14 years
Options and nonvested share awards vesting period, minimum, in years		3 years
Maximum | Computer Equipment
Accounting Policies [Line Items]
Property and equipment, useful life, in years		5 years
Maximum | Furniture and Fixtures
Accounting Policies [Line Items]
Property and equipment, useful life, in years		10 years
Maximum | Leasehold Improvements
Accounting Policies [Line Items]
Property and equipment, useful life, in years		10 years
Maximum | Building Improvements
Accounting Policies [Line Items]
Property and equipment, useful life, in years		39 years
Note Due 2020 | Convertible Debt
Accounting Policies [Line Items]
Stated percentage			3.00%
Note Due 2023 | Convertible Debt
Accounting Policies [Line Items]
Stated percentage	3.50%
Average share price of common stock (usd per share) | $ / shares	$ 46.24

General and Summary of Signif_5

General and Summary of Significant Accounting Policies (Revenue and Long-lived Assets by Geographical Location) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenues (2)	$ 1,095,732	$ 1,065,414	$ 1,017,081
Long-Lived Assets	111,226	111,307
United States
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenues (2)	651,991	677,234	673,264
Long-Lived Assets	87,881	99,271
United Kingdom
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenues (2)	175,383	132,749	120,377
Long-Lived Assets	7,264	2,500
Others
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenues (2)	268,358	255,431	$ 223,440
Long-Lived Assets	$ 16,081	$ 9,536

Finance Receivables, net (Rollf

Finance Receivables, net (Rollforward) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Receivables [Abstract]
Amortized cost	$ 0	$ 0
Initial negative allowance for expected recoveries	3,428,285	3,514,788
Balance at end of period	$ 3,428,285	$ 3,514,788	$ 3,514,165
Beneficial interest, percentage of balance	1.00%

Finance Receivables, net Financ

Finance Receivables, net Finance Receivables, net (Allowance for Expected Recoveries) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Financing Receivable, Allowance for Credit Losses [Roll Forward]
Balance at beginning of year	$ 3,514,788	$ 3,514,165
Initial negative allowance for expected recoveries - acquisitions	972,280	905,118
Foreign currency translation adjustment	(70,733)	63,867
Recoveries applied to negative allowance	(1,185,954)	(1,037,659)
Changes in estimated recoveries	197,904	69,297	$ 0
Balance at end of year	3,428,285	3,514,788	3,514,165
Core
Financing Receivable, Allowance for Credit Losses [Roll Forward]
Balance at beginning of year	3,019,477	3,051,426
Initial negative allowance for expected recoveries - acquisitions	863,379	742,583
Foreign currency translation adjustment	(68,544)	54,735
Recoveries applied to negative allowance	(1,002,400)	(891,925)
Changes in estimated recoveries	178,020	62,658
Balance at end of year	2,989,932	3,019,477	3,051,426
Insolvency
Financing Receivable, Allowance for Credit Losses [Roll Forward]
Balance at beginning of year	495,311	462,739
Initial negative allowance for expected recoveries - acquisitions	108,901	162,535
Foreign currency translation adjustment	(2,189)	9,132
Recoveries applied to negative allowance	(183,554)	(145,734)
Changes in estimated recoveries	19,884	6,639
Balance at end of year	$ 438,353	$ 495,311	$ 462,739

Finance Receivables, net (Portf

Finance Receivables, net (Portfolio Acquisitions) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Accounts, Notes, Loans and Financing Receivable [Line Items]
Face value	$ 6,426,695	$ 6,707,293
Noncredit discount	(734,185)	(763,993)
Allowance for credit losses at acquisition	(4,720,230)	(5,038,182)
Purchase price	972,280	905,118
Core
Accounts, Notes, Loans and Financing Receivable [Line Items]
Face value	5,917,827	5,820,159
Noncredit discount	(696,983)	(710,636)
Allowance for credit losses at acquisition	(4,357,465)	(4,366,940)
Purchase price	863,379	742,583
Insolvency
Accounts, Notes, Loans and Financing Receivable [Line Items]
Face value	508,868	887,134
Noncredit discount	(37,202)	(53,357)
Allowance for credit losses at acquisition	(362,765)	(671,242)
Purchase price	$ 108,901	$ 162,535

Finance Receivables, net Fina_2

Finance Receivables, net Finance Receivables, net (Initial Negative Allowance for Recoveries) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Financing Receivable, Allowance for Credit Losses [Line Items]
Allowance for credit losses at acquisition	$ (4,720,230)	$ (5,038,182)
Writeoffs, net	4,720,230	5,038,182
Expected recoveries	972,280	905,118
Initial negative allowance for expected recoveries	972,280	905,118
Core
Financing Receivable, Allowance for Credit Losses [Line Items]
Allowance for credit losses at acquisition	(4,357,465)	(4,366,940)
Writeoffs, net	4,357,465	4,366,940
Expected recoveries	863,379	742,583
Initial negative allowance for expected recoveries	863,379	742,583
Insolvency
Financing Receivable, Allowance for Credit Losses [Line Items]
Allowance for credit losses at acquisition	(362,765)	(671,242)
Writeoffs, net	362,765	671,242
Expected recoveries	108,901	162,535
Initial negative allowance for expected recoveries	$ 108,901	$ 162,535

Finance Receivables, net Fina_3

Finance Receivables, net Finance Receivables, net (Recoveries) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Financing Receivable, Allowance for Credit Losses [Line Items]
Recoveries	$ 2,061,281	$ 2,021,695
Less - amounts reclassified to portfolio income	875,327	984,036	$ 0
Expected recoveries	1,185,954	1,037,659
Core
Financing Receivable, Allowance for Credit Losses [Line Items]
Recoveries	1,818,635	1,803,480
Less - amounts reclassified to portfolio income	816,235	911,555
Expected recoveries	1,002,400	891,925
Insolvency
Financing Receivable, Allowance for Credit Losses [Line Items]
Recoveries	242,646	218,215
Less - amounts reclassified to portfolio income	59,092	72,481
Expected recoveries	$ 183,554	$ 145,734

Finance Receivables, net (Chang

Finance Receivables, net (Changes in Estimated Future Recoveries) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Financing Receivable, Allowance for Credit Losses [Line Items]
Changes in expected future recoveries	$ (52,248)	$ (213,271)
Recoveries received in excess of forecast	250,152	282,568
Changes in estimated recoveries	197,904	69,297	$ 0
Core
Financing Receivable, Allowance for Credit Losses [Line Items]
Changes in expected future recoveries	(35,432)	(207,982)
Recoveries received in excess of forecast	213,452	270,640
Changes in estimated recoveries	178,020	62,658
Insolvency
Financing Receivable, Allowance for Credit Losses [Line Items]
Changes in expected future recoveries	(16,816)	(5,289)
Recoveries received in excess of forecast	36,700	11,928
Changes in estimated recoveries	$ 19,884	$ 6,639

Finance Receivables, net (Narra

Finance Receivables, net (Narrative) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Receivables [Abstract]
Changes in estimated recoveries	$ 197,904	$ 69,297	$ 0
Recoveries received in excess of forecast	250,152	282,568
Decrease in present value of expected future recoveries	$ 52,248	$ 213,271

Investments (Summary of Investm

Investments (Summary of Investments) (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Debt securities
Available-for-sale	$ 77,538	$ 5,368
Equity securities
Equity method investments	8,048	8,398
Investments	92,977	55,759
Level 1
Debt securities
Available-for-sale	77,538	5,368
Exchange traded funds
Equity securities
Equity securities	1,746	34,847
Exchange traded funds | Level 1
Equity securities
Equity securities	1,746
Private equity funds
Equity securities
Equity securities	5,137	6,123
Mutual funds
Equity securities
Equity securities	508	1,023
Mutual funds | Level 1
Equity securities
Equity securities	$ 508	$ 1,023

Investments (Narrative) (Detail

Investments (Narrative) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Investment [Line Items]
Finance receivables, net		$ 3,514,788
Cash and cash equivalents per Consolidated Balance Sheets	$ 87,584	108,613	$ 119,774
Cost-method investment, ownership percentage	1.00%
Cumulative effect adjustment	$ 1,324,837	1,373,526	$ 1,227,013
Cumulative Effect, Period of Adoption, Adjustment [Member]
Investment [Line Items]
Cumulative effect adjustment		$ (14,689)
RCB Investimentos S.A.
Investment [Line Items]
Ownership percentage	11.70%

Investments (Amortized Cost) (D

Investments (Amortized Cost) (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Available-for-sale
Available-for-sale	$ 77,538	$ 5,368
Government securities
Available-for-sale
Amortized Cost	77,757	5,239
Gross Unrealized Gains	0	129
Gross Unrealized Losses	219	0
Available-for-sale	$ 77,538	$ 5,368

Leases - Narrative (Details)

Leases - Narrative (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Leases [Abstract]
Rental expense	$ 15,046	$ 14,861

Leases - Lease Cost and Other I

Leases - Lease Cost and Other Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Leases [Abstract]
Operating lease cost	$ 12,256	$ 12,263
Short-term lease cost	2,986	2,598
Total lease cost	15,046	14,861
Cash paid for amounts included in the measurement of operating lease liabilities	12,034	12,416
Right-of-use assets obtained in exchange for operating lease obligations	$ 13,525	$ (7,506)
Weighted-average remaining lease term (years)	8 years 7 months 6 days	9 years 1 month 6 days
Weighted-average discount rate	4.50%	4.70%
Sublease Income	$ (196)	$ 0

Leases - Schedule of Operating

Leases - Schedule of Operating Lease Liability Maturity (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Leases [Abstract]
2021	$ 11,231
2022	9,288
2023	8,851
2024	8,673
2025	7,671
Thereafter	28,512
Total lease payments	74,226
Less imputed interest	(13,038)
Total	$ 61,188	$ 57,348

Goodwill and Intangible Asset_3

Goodwill and Intangible Assets, net (Narrative) (Details) $ in Millions	12 Months Ended
	Dec. 31, 2021USD ($)
Goodwill and Intangible Assets Disclosure [Abstract]
Impairment of goodwill	$ 0

Goodwill and Intangible Asset_4

Goodwill and Intangible Assets, net (Schedule of Goodwill) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Goodwill [Roll Forward]
Balance at beginning of year	$ 492,989	$ 480,794
Change in foreign currency translation adjustment	(12,726)	12,195
Balance at end of year	$ 480,263	$ 492,989

Borrowings (Details)

Borrowings (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Debt Instrument [Line Items]
Debt outstanding	$ 2,622,806	$ 2,692,596
Less: Debt discount and issuance costs	(14,092)	(31,307)
Total	2,608,714	2,661,289
Line of Credit | Americas revolving credit (1)
Debt Instrument [Line Items]
Debt outstanding	372,119	405,706
Line of Credit | Europe revolving credit
Debt Instrument [Line Items]
Debt outstanding	795,687	1,171,890
Term Loan
Debt Instrument [Line Items]
Debt outstanding	460,000	470,000
Senior Notes
Debt Instrument [Line Items]
Debt outstanding	650,000	300,000
Convertible Debt
Debt Instrument [Line Items]
Debt outstanding	$ 345,000	$ 345,000

Borrowings (Long term debt Matu

Borrowings (Long term debt Maturities) (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Debt Disclosure [Abstract]
2020	$ 10,300
2021	1,150,986
2022	10,300
2023	310,000
2024 and thereafter	791,220
Total	2,622,806	$ 2,692,596
Long-Term Debt, Maturity, after Year Five	$ 350,000

Borrowings (North American Revo

Borrowings (North American Revolving Credit and Term Loan) (Details)	12 Months Ended
	Dec. 31, 2021USD ($)	Dec. 31, 2020USD ($)	May 26, 2017
Interest Rate Floor
Debt Instrument [Line Items]
Basis spread variable rate (as a percent)	0.00%
North American Credit Agreement
Debt Instrument [Line Items]
Total credit facility available	$ 1,500,000,000
Credit Agreement
Debt Instrument [Line Items]
Credit agreement consolidated leverage ratio	3.50
Debt instrument, covenant, maximum cash dividends	$ 20,000,000
Unused commitment fee under revolving credit	0.35%
Credit Agreement, Consolidated Senior Secured Leverage Ratio	2.25
Credit Agreement | Minimum
Debt Instrument [Line Items]
Unused commitment fee under revolving credit	0.30%
Credit Agreement | Eurodollar Rate
Debt Instrument [Line Items]
Basis spread variable rate (as a percent)	2.25%
Credit Agreement | Eurodollar Rate | Minimum
Debt Instrument [Line Items]
Basis spread variable rate (as a percent)	2.00%
Convertible Debt
Debt Instrument [Line Items]
Long-term debt	$ 342,524,000	$ 321,062,000
Convertible Debt | Note Due 2023
Debt Instrument [Line Items]
Stated percentage			3.50%
Convertible Debt | Credit Agreement
Debt Instrument [Line Items]
Credit Agreement, Consolidated Senior Secured Leverage Ratio	1.60
Line of Credit | Line of Credit
Debt Instrument [Line Items]
Long-term debt	$ 460,000,000
Revolving Credit Facility | North American Credit Agreement
Debt Instrument [Line Items]
Total credit facility available	1,000,000,000
Optional increase in borrowing capacity	500,000,000
Option for letters of credit	25,000,000
Option to reduce borrowing capacity	25,000,000
Unused portion	703,800,000
Current borrowing capacity	131,300,000
Canadian Revolving Credit Facility | North American Credit Agreement
Debt Instrument [Line Items]
Total credit facility available	$ 75,000,000
Eligible Core Asset Pool | Credit Agreement
Debt Instrument [Line Items]
Percentage of maximum level of borrowings of ERC of eligible asset pools	35.00%
Eligible Insolvent Asset Pool | Credit Agreement
Debt Instrument [Line Items]
Covenant, maximum borrowing as a percentage of insolvent asset pools	55.00%

Borrowings (Outstanding balance

Borrowings (Outstanding balances and weighted average interest rates) (Details) - Revolving Credit Facility - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Domestic Line of Credit [Member] | North American Credit Agreement
Line of Credit Facility [Line Items]
Amount Outstanding	$ 371,220	$ 403,669
Weighted Average Interest Rate	2.14%	3.25%
Foreign Line of Credit [Member] | European Revolving Facility and Term Loan
Line of Credit Facility [Line Items]
Amount Outstanding	$ 795,687	$ 1,171,890
Weighted Average Interest Rate	3.48%	3.74%
Loans Payable | North American Credit Agreement
Line of Credit Facility [Line Items]
Amount Outstanding	$ 460,000	$ 470,000
Weighted Average Interest Rate	2.10%	2.65%

Borrowings (European Revolving

Borrowings (European Revolving Credit Facility and Term Loan) (Details) $ in Millions	12 Months Ended
	Dec. 31, 2021SEK (kr)	Dec. 31, 2021USD ($)	Mar. 12, 2021USD ($)
Interest Rate Floor
Line of Credit Facility [Line Items]
Basis spread variable rate (as a percent)	0.00%
European Revolving Facility and Term Loan
Line of Credit Facility [Line Items]
Covenant, loan-to-value	45.00%
European Revolving Facility and Term Loan | Revolving Credit Facility
Line of Credit Facility [Line Items]
Maximum interest bearing deposits | kr	kr 1,200,000,000
Current borrowing capacity		$ 594.3
European Revolving Facility and Term Loan | Overdraft Facility
Line of Credit Facility [Line Items]
Total credit facility available		40
Commitment fee percentage	0.125%
Line of Credit | European Revolving Facility and Term Loan | Revolving Credit Facility
Line of Credit Facility [Line Items]
Total credit facility available		1,350
Unused commitment fee under revolving credit	1.12%
Commitment fee as a percentage of margin	35.00%
Current borrowing capacity		$ 493.3
Maximum GIBD ratio	3.25
Line Of Credit Facility, Accordion Feature, Increase Limit			$ 50
Line of Credit | European Revolving Facility and Term Loan | Interbank Offered Rate (IBOR) | Minimum | Revolving Credit Facility
Line of Credit Facility [Line Items]
Basis spread variable rate (as a percent)	2.70%
Line of Credit | European Revolving Facility and Term Loan | Interbank Offered Rate (IBOR) | Maximum | Revolving Credit Facility
Line of Credit Facility [Line Items]
Basis spread variable rate (as a percent)	3.80%

Borrowings (Columbian Revolving

Borrowings (Columbian Revolving Credit Facility) (Details) - Revolving Credit Facility - Colombian Revolving Credit Facility $ in Millions	Dec. 31, 2021USD ($)
Debt Instrument [Line Items]
Total credit facility available	$ 1
Revolving lines of credit, carrying amount	$ 0.9
Weighted Average Interest Rate	5.85%

Borrowings (Senior Notes) (Deta

Borrowings (Senior Notes) (Details)	Sep. 22, 2021USD ($)	Aug. 27, 2020USD ($)	May 26, 2017USD ($)	May 26, 2017USD ($)	May 26, 2017USD ($)	May 26, 2017USD ($)day	May 26, 2017USD ($)$ / shares	Dec. 31, 2021USD ($)	Dec. 31, 2020USD ($)
Convertible Debt
Debt Instrument [Line Items]
Equity component								$ 0	$ 44,910,000
2025 Notes | Senior Notes
Debt Instrument [Line Items]
Liability component - principal amount		$ 300,000,000
Stated percentage		7.375%
2025 Notes | Senior Notes | On Or After September 1, 2022
Debt Instrument [Line Items]
Redemption price percentage		103.688%
2025 Notes | Senior Notes | September 1, 2023 To October 31, 2024
Debt Instrument [Line Items]
Redemption price percentage		101.844%
2025 Notes | Senior Notes | September 1, 2024 And Thereafter
Debt Instrument [Line Items]
Redemption price percentage		100.00%
2025 Notes | Senior Notes | On Or Before September 1, 2022
Debt Instrument [Line Items]
Redemption price percentage		107.375%
Redemption price, percentage of aggregate principal amount		40.00%
Redemption price, minimum percentage of aggregate principal amount outstanding		60.00%
Redemption period		90 days
2025 Notes | Senior Notes | On Or Before September 1, 2022 | Change Of Control Event
Debt Instrument [Line Items]
Redemption price percentage		101.00%
Redemption price, percentage of aggregate principal amount		100.00%
2029 Notes | Senior Notes
Debt Instrument [Line Items]
Liability component - principal amount	$ 350,000,000
Stated percentage	5.00%
2029 Notes | Senior Notes | October 1, 2024 To October 31, 2025
Debt Instrument [Line Items]
Redemption price percentage	101.25%
2029 Notes | Senior Notes | October 1, 2026 And Thereafter
Debt Instrument [Line Items]
Redemption price percentage	100.00%
2029 Notes | Senior Notes | On Or Before October 1, 2024
Debt Instrument [Line Items]
Redemption price percentage	105.00%
Redemption price, percentage of aggregate principal amount	40.00%
Redemption price, minimum percentage of aggregate principal amount outstanding	60.00%
Redemption period	90 days
2029 Notes | Senior Notes | On Or Before October 1, 2024 | Change Of Control Event
Debt Instrument [Line Items]
Redemption price percentage	101.00%
2029 Notes | Senior Notes | October 1, 2024 And Thereafter
Debt Instrument [Line Items]
Redemption price percentage	100.00%
2029 Notes | Senior Notes | On Or After October 1, 2024
Debt Instrument [Line Items]
Stated percentage	102.50%
Note Due 2023 | Convertible Debt
Debt Instrument [Line Items]
Liability component - principal amount			$ 345,000,000	$ 345,000,000	$ 345,000,000	$ 345,000,000	$ 345,000,000
Stated percentage			3.50%	3.50%	3.50%	3.50%	3.50%
Convertible, threshold percentage of stock price trigger					130.00%
Convertible, threshold trading days | day						20
Convertible, threshold consecutive trading days					30	30
Debt Instrument, Convertible, Threshold Percentage Used In Trading Price Calculation			98.00%	98.00%	98.00%	98.00%	98.00%
Debt Instrument, Convertible, Threshold Trading Days Used In Trading Price Calculation			10 days
Debt Instrument, Convertible, Share Subscription Or Sale Period			45 days
Debt Instrument, Convertible, Consecutive Trading Days Used In Share Price Calculation			10 days
Debt Instrument, Convertible, Distribution Share Value, Percentage In Excess Of Sale Price			10.00%	10.00%	10.00%	10.00%	10.00%
Conversion ratio					21.6275
Average share price of common stock (usd per share) | $ / shares							$ 46.24
Convertible debt, estimated fair value			$ 298,800,000	$ 298,800,000	$ 298,800,000	$ 298,800,000	$ 298,800,000
Equity component			46,200,000	46,200,000	46,200,000	46,200,000	46,200,000
Debt issuance costs, gross			$ 8,300,000	8,300,000	$ 8,300,000	$ 8,300,000	$ 8,300,000
Debt and equity issuance costs				9,600,000
Equity issuance costs				$ 1,300,000

Borrowings (Convertible Debt an

Borrowings (Convertible Debt and Additional information) (Details) - Convertible Debt	May 26, 2017USD ($)	May 26, 2017USD ($)	May 26, 2017USD ($)day	May 26, 2017USD ($)$ / shares	Dec. 31, 2021USD ($)	Dec. 31, 2020USD ($)
Debt Instrument [Line Items]
Carrying amount of convertible debt					$ 0	$ 44,910,000
Note Due 2020
Debt Instrument [Line Items]
Stated percentage						3.00%
Note Due 2023
Debt Instrument [Line Items]
Face amount	$ 345,000,000	$ 345,000,000	$ 345,000,000	$ 345,000,000
Stated percentage	3.50%	3.50%	3.50%	3.50%
Conversion ratio		21.6275
Average share price of common stock (usd per share) | $ / shares				$ 46.24
Convertible debt, estimated fair value	$ 298,800,000	$ 298,800,000	$ 298,800,000	$ 298,800,000
Carrying amount of convertible debt	46,200,000	46,200,000	46,200,000	46,200,000
Debt issuance costs, gross	8,300,000	$ 8,300,000	$ 8,300,000	$ 8,300,000
Debt and equity issuance costs	9,600,000
Equity issuance costs	$ 1,300,000
Effective interest rate (as a percent)					4.00%
Convertible, threshold percentage of stock price trigger		130.00%
Convertible, threshold trading days | day			20
Convertible, threshold consecutive trading days		30	30

Borrowings (Breakdown of Debt I

Borrowings (Breakdown of Debt Instrument) (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Debt Instrument [Line Items]
Debt outstanding	$ 2,622,806	$ 2,692,596
Convertible Debt
Debt Instrument [Line Items]
Debt outstanding	345,000	345,000
Unamortized debt discount	0	(20,603)
Liability component - net carrying amount	342,524	321,062
Equity component	0	44,910
Debt Issuance Costs, Net	$ (2,476)	$ (3,335)

Borrowings (Interest Expense) (

Borrowings (Interest Expense) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Debt Instrument [Line Items]
Interest expense - amortization of debt discount and issuance costs	$ 9,508	$ 21,063	$ 22,987
Interest expense	125,231	142,727	144,165
Interest income	(1,088)	(1,015)	(2,247)
Interest expense, net	124,143	141,712	141,918
Convertible Debt
Debt Instrument [Line Items]
Interest expense - stated coupon rate	12,075	17,064	20,700
Interest expense - amortization of debt discount and issuance costs	0	10,811	12,398
Interest expense - amortization of debt issuance costs	1,660	1,989	2,424
Total interest expense - Convertible Notes	$ 13,735	$ 29,864	$ 35,522

Property and Equipment, net (Pr

Property and Equipment, net (Property and Equipment, at Cost) (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Property, Plant and Equipment, Net [Abstract]
Software	$ 69,549	$ 66,947
Computer equipment	25,457	23,740
Furniture and fixtures	20,034	17,978
Equipment	15,297	15,137
Leasehold improvements	17,606	17,403
Building and improvements	19,456	17,905
Land	1,407	1,407
Accumulated depreciation	(117,420)	(105,707)
Assets in process	3,127	3,546
Property and equipment, net	$ 54,513	$ 58,356

Property and Equipment, net (Na

Property and Equipment, net (Narrative) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Property, Plant and Equipment [Line Items]
Depreciation and amortization expense	$ 15.1	$ 15.6	$ 15.9

Fair Value (Carrying And Estima

Fair Value (Carrying And Estimated Fair Value Recorded In The Consolidated Balance Sheet) (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Assets:
Cash and cash equivalents per Consolidated Balance Sheets	$ 87,584	$ 108,613	$ 119,774
Finance receivables, net, carrying amount		3,514,788
Financial liabilities:
Interest-bearing deposits, carrying amount		132,739
Carrying Amount
Assets:
Cash and cash equivalents per Consolidated Balance Sheets	87,584
Finance receivables, net, carrying amount	3,428,285
Financial liabilities:
Interest-bearing deposits, carrying amount	124,623
Revolving lines of credit, carrying amount	1,167,806	1,577,596
Term loans, carrying amount	460,000	470,000
Senior notes, carrying amount		300,000
Convertible notes, carrying amount	345,000	324,397
Estimated Fair Value
Assets:
Cash and cash equivalents, estimated fair value	87,584	108,613
Finance receivables, net, estimated fair value	3,317,658	3,541,159
Financial liabilities:
Interest-bearing deposits, estimated fair value	124,623	132,739
Revolving lines of credit, estimated fair value	1,167,806	1,577,596
Term loans, estimated fair value	460,000	470,000
Senior notes, estimated fair value	673,366	324,408
Convertible notes, estimated fair value	$ 406,607	$ 376,012

Fair Value (Fair Value Assets a

Fair Value (Fair Value Assets and Liabilities Measured on a Recurring Basis) (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Assets:
Available-for-sale investments	$ 77,538	$ 5,368
Derivative contracts (recorded in other assets)	9,785	3,512
Liabilities:
Derivative contracts (recorded in other liabilities)	25,978	45,432
Level 1
Assets:
Available-for-sale investments	77,538	5,368
Derivative contracts (recorded in other assets)	0	0
Liabilities:
Derivative contracts (recorded in other liabilities)	0	0
Level 2
Assets:
Available-for-sale investments	0	0
Derivative contracts (recorded in other assets)	9,785	3,512
Liabilities:
Derivative contracts (recorded in other liabilities)	25,978	45,432
Level 3
Assets:
Available-for-sale investments	0	0
Derivative contracts (recorded in other assets)	0	0
Liabilities:
Derivative contracts (recorded in other liabilities)	0	0
Exchange traded funds
Assets:
Equity securities	1,746	34,847
Exchange traded funds | Level 1
Assets:
Equity securities	1,746
Exchange traded funds | Level 2
Assets:
Equity securities	0	0
Exchange traded funds | Level 3
Assets:
Equity securities	0	0
Mutual funds
Assets:
Equity securities	508	1,023
Mutual funds | Level 1
Assets:
Equity securities	508	1,023
Mutual funds | Level 2
Assets:
Equity securities	0	0
Mutual funds | Level 3
Assets:
Equity securities	$ 0	$ 0

Fair Value (Narrative) (Details

Fair Value (Narrative) (Details) - Private equity funds - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Private equity funds	$ 5.1	$ 6.1
Minimum
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Private equity funds, liquidating investment, period	1 year
Maximum
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Private equity funds, liquidating investment, period	5 years

Derivatives (Schedule of Deriva

Derivatives (Schedule of Derivatives by Balance Sheet Location) (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Derivatives, Fair Value [Line Items]
Derivative contracts (recorded in other assets)	$ 9,785	$ 3,512
Derivative contracts (recorded in other liabilities)	25,978	45,432
Interest rate contracts | Designated as Hedging Instrument | Other assets
Derivatives, Fair Value [Line Items]
Derivative contracts (recorded in other liabilities)	14,879	43,017
Interest rate contracts | Designated as Hedging Instrument | Other assets
Derivatives, Fair Value [Line Items]
Derivative contracts (recorded in other assets)	6,251	0
Foreign currency contracts | Not Designated as Hedging Instrument | Other assets
Derivatives, Fair Value [Line Items]
Derivative contracts (recorded in other liabilities)	11,099	2,415
Foreign currency contracts | Not Designated as Hedging Instrument | Other assets
Derivatives, Fair Value [Line Items]
Derivative contracts (recorded in other assets)	$ 3,534	$ 3,512

Derivatives (Narrative) (Detail

Derivatives (Narrative) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Designated as Hedging Instrument | Cash Flow Hedging | Minimum
Derivative [Line Items]
Initial term of derivative	1 year
Designated as Hedging Instrument | Cash Flow Hedging | Maximum
Derivative [Line Items]
Initial term of derivative	4 years
Designated as Hedging Instrument | Interest rate contracts
Derivative [Line Items]
Derivative, notional amount	$ 869.1	$ 967.2
Net derivative gain (loss) included in OCI to be reclassified next 12 months	4.2
Not Designated as Hedging Instrument | Foreign currency contracts
Derivative [Line Items]
Derivative, notional amount	$ 1,061.7	$ 500.8

Derivatives (Schedule of Effect

Derivatives (Schedule of Effects of Derivatives Designated as Cash Flow Hedging Instruments) (Details) - Interest rate contracts - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Derivative Instruments, Gain (Loss) [Line Items]
Gain or (loss) recognized in OCI, net of tax	$ 17,961	$ (28,101)	$ (14,311)
Interest expense, net
Derivative Instruments, Gain (Loss) [Line Items]
Gain or (loss) reclassified from OCI into income	$ (12,722)	$ (10,027)	$ (1,457)

Derivatives (Schedule of Effe_2

Derivatives (Schedule of Effects of Derivatives Not Designated as Hedging Instruments) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Foreign currency contracts | Foreign exchange gain/(loss)
Derivative Instruments, Gain (Loss) [Line Items]
Amount of gain or (loss) recognized in income	$ 12,160	$ 24,009	$ (7,008)
Foreign currency contracts | Interest expense, net
Derivative Instruments, Gain (Loss) [Line Items]
Amount of gain or (loss) recognized in income	406	(2,475)	(3,875)
Interest rate contracts | Interest expense, net
Derivative Instruments, Gain (Loss) [Line Items]
Amount of gain or (loss) recognized in income	$ 0	$ 0	$ (492)

Accumulated Other Comprehensi_3

Accumulated Other Comprehensive Loss (Reclassifications Out of AOCI) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Other	$ 282	$ (1,049)	$ (364)
Income tax expense	54,817	41,203	19,680
Net income	195,509	167,742	$ 97,679
Cash Flow Hedges | Reclassification out of Accumulated Other Comprehensive Income
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Other	(12,722)	(10,027)
Income tax expense	2,705	2,187
Net income	$ (10,017)	$ (7,840)

Accumulated Other Comprehensi_4

Accumulated Other Comprehensive Loss (Changes in Accumulated Other Comprehensive Loss) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	$ 1,373,526	$ 1,227,013
Other comprehensive (loss)/income before reclassifications, net	(31,135)	7,387	$ (20,088)
Reclassifications, net	10,017	7,840	1,179
Other comprehensive income/(loss) attributable to PRA Group, Inc.	(21,118)	15,227	(18,909)
Ending balance	1,324,837	1,373,526	1,227,013
Debt Securities Available-for-Sale
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	127	(44)	(83)
Other comprehensive (loss)/income before reclassifications, net	(348)	171	39
Reclassifications, net	0	0	0
Other comprehensive income/(loss) attributable to PRA Group, Inc.	(348)	171	39
Ending balance	(221)	127	(44)
Deferred taxes	3,100	9,200	4,400
Cash Flow Hedges
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	(33,349)	(13,088)	44
Other comprehensive (loss)/income before reclassifications, net	17,961	(28,101)	(14,311)
Reclassifications, net	10,017	7,840	1,179
Other comprehensive income/(loss) attributable to PRA Group, Inc.	27,978	(20,261)	(13,132)
Ending balance	(5,371)	(33,349)	(13,088)
Currency Translation Adjustments
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	(212,569)	(247,886)	(242,070)
Other comprehensive (loss)/income before reclassifications, net	(48,748)	35,317	(5,816)
Reclassifications, net	0	0	0
Other comprehensive income/(loss) attributable to PRA Group, Inc.	(48,748)	35,317	(5,816)
Ending balance	(261,317)	(212,569)	(247,886)
Accumulated  Other Comprehensive (Loss)
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	(245,791)	(261,018)	(242,109)
Ending balance	$ (266,909)	$ (245,791)	$ (261,018)

Share-Based Compensation (Narra

Share-Based Compensation (Narrative) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Maximum number of shares authorized	5,400,000
Total share-based compensation expense	$ 15.9	$ 14.4	$ 10.7
Total tax benefit realized from share-based compensation	3.9	2.4	1.2
Grant date fair value of shares vested	10.8	6.9	5.8
Long-Term Incentive Programs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Future compensation cost related to stock option	$ 5.4
Weighted average remaining life of nonvested shares (in years)	1 year 1 month 6 days
Grant date fair value of shares vested	$ 3.9	$ 1.2	$ 0
Forfeiture rate for share awards granted under LTI Programs (as a percent)	5.00%
Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Options issued under the amended plan vesting period (in years)	1 year
Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Options issued under the amended plan vesting period (in years)	3 years
Nonvested Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Future compensation cost related to stock option	$ 11.4
Weighted average remaining life of nonvested shares (in years)	1 year 6 months
Nonvested Awards | Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Options issued under the amended plan vesting period (in years)	1 year
Nonvested Awards | Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Options issued under the amended plan vesting period (in years)	3 years

Share-Based Compensation (Nonve

Share-Based Compensation (Nonvested Share Transactions) (Details) - $ / shares shares in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Nonvested Shares Outstanding
Beginning balance, shares	555	532	379
Granted, shares	312	256	329
Vested, shares	(320)	(219)	(167)
Cancelled, shares	(37)	(14)	(9)
Ending balance, shares	510	555	532
Weighted-Average Price at Grant Date
Beginning balance (usd per share)	$ 34.23	$ 30.97	$ 34.85
Granted (usd per share)	38.14	38.69	28.47
Vested (usd per share)	33.80	31.56	34.81
Cancelled (usd per share)	36.06	33.95	31.01
Ending balance (usd per share)	$ 36.76	$ 34.23	$ 30.97
Long-Term Incentive Programs
Nonvested Shares Outstanding
Beginning balance, shares	392	447	454
Granted, shares	148	118	168
Adjustments for actual performance, shares	(10)	(131)	(172)
Vested, shares	(99)	(36)	0
Cancelled, shares	(24)	(6)	(3)
Ending balance, shares	407	392	447
Weighted-Average Price at Grant Date
Beginning balance (usd per share)	$ 34.30	$ 33.03	$ 33.27
Granted (usd per share)	37.45	39.04	28.28
Adjustments for actual performance (usd per share)	39.40	34.44	28.98
Vested (usd per share)	39.40	33.50	0
Cancelled (usd per share)	35.31	33.77	35.87
Ending balance (usd per share)	$ 34.01	$ 34.30	$ 33.03

Earnings per Share (Details)

Earnings per Share (Details) - USD ($)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019	Oct. 28, 2021	Jul. 29, 2021
Earnings Per Share [Abstract]
Net Income Attributable to PRA Group, Inc.	$ 183,158,000	$ 149,339,000	$ 86,158,000
Weighted Average Common Shares, Basic EPS	44,960,000	45,540,000	45,387,000
Weighted Average Common Shares, Dilutive effect of nonvested share awards	370,000	320,000	190,000
Weighted Average Common Shares, Diluted EPS	45,330,000	45,860,000	45,577,000
Basic EPS (usd per share)	$ 4.07	$ 3.28	$ 1.90
Dilutive effect of nonvested share awards (usd per share)	(0.03)	(0.02)	(0.01)
Diluted EPS (usd per share)	$ 4.04	$ 3.26	$ 1.89
Antidilutive options outstanding (in shares)	0	0	0
Stock repurchases, additional amount authorized				$ 80,000,000	$ 150,000,000
Stock repurchases authorized amount				$ 230,000,000
Stock Repurchased During Period, Shares	4,841,313
Stock Repurchased During Period, Value	$ 212,900,000
Average price of shares repurchased and retired (usd per share)	$ 43.97

Income Taxes (Summary of Income

Income Taxes (Summary of Income Tax Expense Recognized) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Income Tax Disclosure [Abstract]
Current tax expense, Federal	$ 30,659	$ 48,223	$ 41,391
Current tax expense, State	5,397	12,416	6,390
Current foreign tax expense	11,958	39,067	9,460
Current tax expense, Total	48,014	99,706	57,241
Deferred tax (benefit)/expense, Federal	(3,056)	(32,699)	(27,311)
Deferred tax expense/(benefit), State	(323)	(8,921)	(6,030)
Deferred Foreign Income Tax (benefit)/Expense	10,182	(16,883)	(4,220)
Deferred tax (benefit)/expense, Total	6,803	(58,503)	(37,561)
Total income tax expense, Federal	27,603	15,524	14,080
Total income tax expense, State	5,074	3,495	360
Foreign Income Tax Expense, Continuing Operations	22,140	22,184	5,240
Total income tax expense	$ 54,817	$ 41,203	$ 19,680

Income Taxes (Narrative) (Detai

Income Taxes (Narrative) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2018	Dec. 31, 2020	Dec. 31, 2019
Income Taxes [Line Items]
Federal corporate tax rate	21.00%	35.00%
Net deferred tax asset	$ 31,131		$ 42,338
Net deferred tax liability			42,300
Valuation allowance	75,375		73,595
Unremitted earnings of foreign subsidiaries	116,300
Unrecognized tax benefits	114,294		110,425	$ 0
Unrecognized benefit, if recognized, effect on effective tax rate	22,100
Accrued potential interest related to unrecognized tax benefits	1,200
Penalties related to unrecognized tax benefits	1,700
Foreign Tax Authority
Income Taxes [Line Items]
Operating loss carryforward, foreign subsidiaries	514,400		517,000
Valuation allowance of operating loss carryforwards, foreign subsidiaries	$ 276,600		$ 275,300
Minimum | Foreign Tax Authority
Income Taxes [Line Items]
Operating loss carryforward, carryforward period	7 years
Maximum | Foreign Tax Authority
Income Taxes [Line Items]
Operating loss carryforward, carryforward period	20 years

Income Taxes (Schedule of Recon

Income Taxes (Schedule of Reconciliation of Expected Tax Expense At Statutory Tax Rates to Actual Tax Expense) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Income Tax Disclosure [Abstract]
Income tax expense at statutory federal rates	$ 52,568	$ 43,878	$ 24,645
State tax expense, net of federal tax benefit	4,303	2,449	161
Tax impact on international earnings, excluding uncertain tax positions	(4,449)	(29,992)	(7,326)
Uncertain tax positions on international earnings	0	23,917	0
Other	2,395	951	2,200
Total income tax expense	$ 54,817	$ 41,203	$ 19,680

Income Taxes (Summary of Compon

Income Taxes (Summary of Components of Net Deferred Tax Liability) (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Deferred tax assets:
Employee compensation	$ 8,609	$ 8,770
Net operating loss carryforward	121,035	117,889
Interest	10,160	12,840
Finance receivable revenue recognition - international	2,351	17,160
Lease liability	11,811	14,478
Other	4,873	6,348
Valuation allowance	(75,375)	(73,595)
Total deferred tax asset	83,464	103,890
Deferred tax liabilities:
Property and equipment	(5,075)	(6,214)
Intangible assets and goodwill	(4,185)	(3,245)
ROU asset	(10,884)	(13,509)
Convertible debt	0	(5,113)
Finance receivable revenue recognition - domestic	(32,189)	(33,471)
Total deferred tax liability	(52,333)	(61,552)
Net deferred tax asset/(liability)	$ 31,131	42,338
Total deferred tax liability		$ 42,300

Income Taxes (Unrecognized Tax

Income Taxes (Unrecognized Tax Benefits) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward]
Balance at beginning of year	$ 110,425	$ 0
Additions, based on tax positions related to current year	0	32,673
Additions, based on tax positions related to prior year	3,869	77,752
Balance at end of year	$ 114,294	$ 110,425

Commitments and Contingencies (

Commitments and Contingencies (Details) $ in Thousands	Dec. 31, 2021USD ($)
Commitments and Contingencies Disclosure [Abstract]
Future compensation under employment agreements	$ 13,000
Total future minimum lease payments	74,226
Amount to be purchased under forward flow agreements	$ 650,600

Retirement Plans (Details)

Retirement Plans (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Retirement Benefits [Abstract]
Minimum eligible age to make voluntary contributions	18 years
Employee contribution, percentage of employee's compensation	100.00%
Employer contribution, percentage of employee's compensation	4.00%
Total compensation expense related to contribution plan	$ 6.5	$ 6.4	$ 5.9

Subsequent Event (Details)

Subsequent Event (Details) - USD ($)	Feb. 25, 2022	Oct. 28, 2021
Subsequent Event [Line Items]
Stock repurchases authorized amount		$ 230,000,000
Subsequent Event | Prior Repurchase Program
Subsequent Event [Line Items]
Stock repurchases authorized amount	$ 230,000,000
Subsequent Event | New Repurchase Program
Subsequent Event [Line Items]
Stock repurchases authorized amount	$ 150,000,000