PRA (PRAA) 10-Q 8 May 24 2024 Q1 Quarterly report Financial data

Cover Page

Cover Page - shares	3 Months Ended
	Mar. 31, 2024	May 02, 2024
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Mar. 31, 2024
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 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 Common Stock, Shares Outstanding		39,352,006
Amendment Flag	false
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q1
Current Fiscal Year End Date	--12-31
Entity Central Index Key	0001185348

Recently Issued Accounting Stan

Recently Issued Accounting Standards	3 Months Ended
	Mar. 31, 2024
Accounting Standards Update and Change in Accounting Principle [Abstract]
Recently Issued Accounting Standards	Recently Issued Accounting Standards: Recently issued accounting standards not yet adopted: The Company does not expect that any recently issued accounting pronouncements will have a material effect on its Consolidated Financial Statements.

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Assets [Abstract]
Cash and Cash Equivalents, at Carrying Value	$ 108,100	$ 112,528
Investments	58,879	72,404
Financing Receivable, after Allowance for Credit Loss, Current	3,650,195	3,656,598
Income Taxes Receivable, Current	32,067	27,713
Deferred Income Tax Assets, Net	78,883	74,694
Operating Lease, Right-of-Use Asset	44,187	45,877
Property, Plant and Equipment, Net	34,054	36,450
Goodwill	411,846	431,564
Other Assets	63,971	67,526
Assets, Total	4,482,182	4,525,354
Liabilities [Abstract]
Accounts Payable	10,814	6,325
Accrued Liabilities	98,902	131,893
Accrued Income Taxes	23,541	17,912
Deferred Tax Liabilities, Net, After Adjustments	16,888	17,051
Operating Lease, Liability	48,557	50,300
Interest-Bearing Deposit Liabilities	113,259	115,589
Debt, Long-Term and Short-Term, Combined Amount	2,953,048	2,914,270
Other Liabilities, Current	20,855	32,638
Liabilities, Total	3,285,864	3,285,978
Equity, Attributable to Parent [Abstract]
Preferred Stock, Value, Issued	0	0
Common Stock, Value, Outstanding	393	392
Additional Paid in Capital, Common Stock	8,928	7,071
Retained Earnings (Accumulated Deficit)	1,493,023	1,489,548
Accumulated Other Comprehensive Income (Loss), Net of Tax	(373,018)	(329,899)
Equity, Attributable to Parent, Total	1,129,326	1,167,112
Equity, Attributable to Noncontrolling Interest	66,992	72,264
Equity, Including Portion Attributable to Noncontrolling Interest, Total	1,196,318	1,239,376
Liabilities and Equity, Total	$ 4,482,182	$ 4,525,354

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - $ / shares	Mar. 31, 2024	Dec. 31, 2023
Statement of Financial Position [Abstract]
Preferred stock, par value (in dollars per share)	$ 0.01	$ 0.01
Preferred stock, shares authorized	2,000,000	2,000,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized	100,000,000	100,000,000
Common stock, shares issued	39,345,000	39,247,000
Common stock, shares outstanding	39,345,000	39,247,000

Consolidated Income Statements

Consolidated Income Statements - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Revenues:
Financing Receivable, Allowance For Credit Losses, Recoveries Reclassified To Income	$ 202,056	$ 188,242
Financing Receivable, Allowance For Credit Loss, Changes In Estimated Recoveries	51,674	(36,912)
Financing Receivable, Allowance For Credit Loss, Portfolio Revenue	253,730	151,330
Revenue From Contract With Customer And Fee Revenue, Excluding Assessed Tax	1,856	4,140
Revenues, Total	255,586	155,470
Operating Expenses [Abstract]
Labor and Related Expense	73,597	82,403
Legal Fees	12,112	8,838
Legal Costs	26,691	23,945
Agency Fees	19,723	17,378
Outside Fees And Services Expenses	25,050	24,944
Communication	12,578	10,527
Rent And Occupancy	4,144	4,448
Depreciation, Depletion and Amortization, Nonproduction	2,720	3,589
Other Cost and Expense, Operating	12,575	13,042
Operating Expenses, Total	189,190	189,114
Operating Income (Loss), Total	66,396	(33,644)
Interest Income (Expense), Nonoperating	(52,278)	(38,283)
Nonoperating Income (Expense) [Abstract]
Interest Income (Expense), Nonoperating	(52,278)	(38,283)
Gain (Loss), Foreign Currency Transaction, before Tax	227	(9)
Other Nonoperating Income (Expense)	(206)	(650)
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest, Total	14,139	(72,586)
Income Tax Expense (Benefit)	2,386	(18,683)
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest, Total	11,753	(53,903)
Net Income (Loss) Attributable to Noncontrolling Interest	8,278	4,726
Net Income (Loss) Attributable to Parent, Total	$ 3,475	$ (58,629)
Earnings Per Share [Abstract]
Basic (in dollars per share)	$ 0.09	$ (1.50)
Diluted (in dollars per share)	$ 0.09	$ (1.50)
Weighted Average Number of Shares Outstanding, Diluted [Abstract]
Basic (shares)	39,274	39,033
Diluted (shares)	39,448	39,033

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income (Loss) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Statement of Comprehensive Income [Abstract]
Net income	$ 11,753	$ (53,903)
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Gain (Loss) Arising During Period, Net of Tax	(48,191)	(1,550)
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), after Reclassification and Tax	2,808	(4,831)
OCI, Debt Securities, Available-for-Sale, Gain (Loss), after Adjustment and Tax	46	128
Other Comprehensive Income (Loss), Net of Tax, Total	(45,337)	(6,253)
Comprehensive Income (Loss), Net of Tax, Including Portion Attributable to Noncontrolling Interest, Total	(33,584)	(60,156)
Comprehensive Income (Loss), Net of Tax, Attributable to Noncontrolling Interest	6,059	7,276
Comprehensive Income (Loss), Net of Tax, Attributable to Parent, Total	$ (39,643)	$ (67,432)

Consolidated Statement of Chang

Consolidated Statement of Changes in Equity - USD ($) $ in Thousands	Total	Common Stock	Additional Paid-in Capital	Retained Earnings	Accumulated Other Comprehensive (Loss)	Noncontrolling Interest
Beginning balance (in shares) at Dec. 31, 2022		38,980,000
Beginning balance at Dec. 31, 2022	$ 1,286,750	$ 390	$ 2,172	$ 1,573,025	$ (347,926)	$ 59,089
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	(53,903)			(58,629)		4,726
Currency translation adjustments	(1,550)				(4,101)	2,551
Cash flow hedges	(4,831)				(4,831)
Debt securities available-for-sale	128				128
Vesting of restricted stock (in shares)		190,000
Vesting of restricted stock		$ 2	(2)
Share-based compensation expense	3,799		3,799
Employee stock relinquished for payment of taxes	(5,684)		(5,684)
Ending balance (in shares) at Mar. 31, 2023		39,170,000
Ending balance at Mar. 31, 2023	1,224,709	$ 392	285	1,514,396	(356,730)	66,366
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Changes in estimated recoveries	(36,912)
Revenues	$ 155,470
Beginning balance (in shares) at Dec. 31, 2023	39,247,000	39,247,000
Beginning balance at Dec. 31, 2023	$ 1,239,376	$ 392	7,071	1,489,548	(329,899)	72,264
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	11,753			3,475		8,278
Currency translation adjustments	(48,191)				(45,973)	(2,218)
Cash flow hedges	2,808				2,808
Debt securities available-for-sale	46				46
Vesting of restricted stock (in shares)		98,000
Vesting of restricted stock		$ 1	(1)
Share-based compensation expense	3,327		3,327
Employee stock relinquished for payment of taxes	$ (1,469)		(1,469)
Ending balance (in shares) at Mar. 31, 2024	39,345,000	39,345,000
Ending balance at Mar. 31, 2024	$ 1,196,318	$ 393	$ 8,928	$ 1,493,023	$ (373,018)	66,992
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Changes in estimated recoveries	51,674
Distributions to noncontrolling interest	(11,332)					$ (11,332)
Revenues	$ 255,586

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Net Cash Provided by (Used in) Operating Activities [Abstract]
Net income	$ 11,753	$ (53,903)
Adjustments, Noncash Items, to Reconcile Net Income (Loss) to Cash Provided by (Used in) Operating Activities [Abstract]
Share-Based Payment Arrangement, Noncash Expense	3,327	3,799
Depreciation and amortization	2,720	3,589
Amortization of Debt Issuance Costs and Discounts	2,200	2,441
Financing Receivable, Allowance For Credit Loss, Changes In Estimated Recoveries	(51,674)	36,912
Deferred Income Taxes and Tax Credits	(6,487)	(12,400)
Unrealized Gain (Loss), Foreign Currency Transaction, before Tax	9,689	15,020
Equity Securities, FV-NI, Realized Gain (Loss)	206	(3)
Other Noncash Income (Expense)	200	(59)
Increase (Decrease) in Operating Capital [Abstract]
Increase (Decrease) in Other Operating Assets	1,216	(5,197)
Accrued expenses, accounts payable and other liabilities	(26,806)	9,176
Increase (Decrease) in Income Taxes	66	(16,717)
Increase (Decrease) In Operating Lease Asset (Liability)	(31)	(139)
Net Cash Provided by (Used in) Operating Activities, Total	(72,999)	(47,521)
Net Cash Provided by (Used in) Investing Activities [Abstract]
Payments to Acquire Property, Plant, and Equipment	(495)	(405)
Payments to Acquire Finance Receivables	(245,817)	(219,030)
Proceeds From Recovery Of Negative Financing Receivable Allowance	251,660	225,709
Payments For (Proceeds From) Marketable Securities)	(48,247)	(60,057)
Proceeds from Sale and Maturity of Marketable Securities	58,110	62,762
Net Cash Provided by (Used in) Investing Activities, Total	15,211	8,979
Net Cash Provided by (Used in) Financing Activities [Abstract]
Proceeds from Long-Term Lines of Credit	153,171	243,431
Repayments of Long-Term Lines of Credit	(86,435)	(199,377)
Repayments of Other Long-Term Debt	(5,000)	(2,500)
Payments of Financing Costs	(117)	(5,114)
Payment, Tax Withholding, Share-Based Payment Arrangement	(1,469)	(5,683)
Payments to Noncontrolling Interests	(11,332)	0
Net Change Interest-Bearing Deposits, Foreign	4,004	(4,951)
Net Cash Provided by (Used in) Financing Activities, Total	52,822	425,806
Effect of Exchange Rate on Cash, Cash Equivalents, Restricted Cash, and Restricted Cash Equivalents, Continuing Operations	861	3,656
Cash, Cash Equivalents, Restricted Cash, and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect, Total	(4,105)	390,920
Cash, Cash Equivalents, Restricted Cash, and Restricted Cash Equivalents, Beginning Balance	113,692	84,759
Cash, Cash Equivalents, Restricted Cash, and Restricted Cash Equivalents, Ending Balance	109,587	475,679
Supplemental Cash Flow Information [Abstract]
Interest Paid, Excluding Capitalized Interest, Operating Activities	76,677	25,081
Income Taxes Paid	8,616	10,555
Cash, Cash Equivalents, Restricted Cash, and Restricted Cash Equivalents [Abstract]
Cash and Cash Equivalents, at Carrying Value	108,100	116,471
Restricted Cash and Cash Equivalents	1,487	359,208
Cash, Cash Equivalents, Restricted Cash, and Restricted Cash Equivalents	109,587	475,679
2028 Notes
Net Cash Provided by (Used in) Financing Activities [Abstract]
Proceeds from Issuance of Other Long-Term Debt	$ 0	$ 400,000

Organization and Business

Organization and Business	3 Months Ended
	Mar. 31, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization and Business	Organization and Business: 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 in the United States ("U.S."). Basis of presentation : The Consolidated Financial Statements of the Company are prepared in accordance with U.S. generally accepted accounting principles ("GAAP"). The accompanying interim financial statements have been prepared in accordance with the instructions for Quarterly Reports on Form 10-Q, and therefore, do not include all information and Notes to the Consolidated Financial Statements necessary for a complete presentation of financial position, results of operations, comprehensive income/(loss) and cash flows in conformity with GAAP. In the opinion of management, all adjustments, consisting of normal and recurring items, necessary for the fair presentation of the Company's Consolidated Balance Sheets as of March 31, 2024, and the Consolidated Income Statements, Statements of Comprehensive Income, Statements of Changes in Equity and Statements of Cash Flows for the three months ended March 31, 2024 and 2023, have been included. 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. These unaudited Consolidated Financial Statements should be read in conjunction with the audited Consolidated Financial Statements and notes thereto included in the Company's Annual Report on Form 10-K for the year ended December 31, 2023 (the "2023 Form 10-K"). For further discussion of the Company's significant accounting policies, refer to Note 1 to the Consolidated Financial Statements in the 2023 Form 10-K. There were no material changes to these policies during the three months ended March 31, 2024. 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, and the Company's Consolidated Income Statements for the three months ended March 31, 2024 may not be indicative of future results. Reclassification of prior year presentation: Certain prior period amounts have been reclassified for consistency with the current period presentation. In the Consolidated Statements of Cash Flows, changes in Accrued expenses, Accounts payable and Other liabilities are now presented as a single line-item within Changes in operating assets and liabilities.

Finance Receivables, net

Finance Receivables, net	3 Months Ended
	Mar. 31, 2024
Receivables [Abstract]
Finance Receivables, net	Finance Receivables, net: Finance receivables, net consisted of the following as of March 31, 2024 and December 31, 2023 (amounts in thousands): March 31, 2024 December 31, 2023 Amortized cost $ — $ — Negative allowance for expected recoveries 3,650,195 3,656,598 Balance at end of period $ 3,650,195 $ 3,656,598 Changes in the negative allowance for expected recoveries by portfolio segment for the three months ended March 31, 2024 and 2023 were as follows (amounts in thousands): Three Months Ended March 31, 2024 Core Insolvency Total Balance at beginning of period $ 3,295,214 $ 361,384 $ 3,656,598 Initial negative allowance for expected recoveries - portfolio acquisitions (1) 218,657 27,160 245,817 Foreign currency translation adjustment (50,127) (2,107) (52,234) Recoveries applied to negative allowance (2) (215,216) (36,444) (251,660) Changes in expected recoveries (3) 49,564 2,110 51,674 Balance at end of period $ 3,298,092 $ 352,103 $ 3,650,195 Three Months Ended March 31, 2023 Core Insolvency Total Balance at beginning of period $ 2,936,207 $ 358,801 $ 3,295,008 Initial negative allowance for expected recoveries - portfolio acquisitions (1) 207,322 22,903 230,225 Foreign currency translation adjustment 19,835 4,050 23,885 Recoveries applied to negative allowance (2) (186,386) (39,323) (225,709) Changes in expected recoveries (3) (41,128) 4,216 (36,912) Balance at end of period $ 2,935,850 $ 350,647 $ 3,286,497 (1) Initial negative allowance for expected recoveries - portfolio acquisitions Portfolio acquisitions for the three months ended March 31, 2024 and 2023 were as follows (amounts in thousands): Three Months Ended March 31, 2024 Core Insolvency Total Face value $ 1,708,631 $ 114,216 $ 1,822,847 Noncredit discount (231,385) (13,442) (244,827) Allowance for credit losses at acquisition (1,258,589) (73,614) (1,332,203) Purchase price $ 218,657 $ 27,160 $ 245,817 Three Months Ended March 31, 2023 Core Insolvency Total Face value $ 1,507,965 $ 104,809 $ 1,612,774 Noncredit discount (150,511) (8,042) (158,553) Allowance for credit losses at acquisition (1,150,132) (73,864) (1,223,996) Purchase price $ 207,322 $ 22,903 $ 230,225 The initial negative allowance recorded on portfolio acquisitions for the three months ended March 31, 2024 and 2023 was as follows (amounts in thousands): Three Months Ended March 31, 2024 Core Insolvency Total Allowance for credit losses at acquisition $ (1,258,589) $ (73,614) $ (1,332,203) Writeoffs, net 1,258,589 73,614 1,332,203 Expected recoveries 218,657 27,160 245,817 Initial negative allowance for expected recoveries $ 218,657 $ 27,160 $ 245,817 Three Months Ended March 31, 2023 Core Insolvency Total Allowance for credit losses at acquisition $ (1,150,132) $ (73,864) $ (1,223,996) Writeoffs, net 1,150,132 73,864 1,223,996 Expected recoveries 207,322 22,903 230,225 Initial negative allowance for expected recoveries $ 207,322 $ 22,903 $ 230,225 (2) Recoveries applied to negative allowance Recoveries applied to the negative allowance for the three months ended March 31, 2024 and 2023 were as follows (amounts in thousands): Three Months Ended March 31, 2024 Core Insolvency Total Recoveries (a) $ 406,313 $ 47,403 $ 453,716 Less - amounts reclassified to portfolio income 191,097 10,959 202,056 Recoveries applied to negative allowance $ 215,216 $ 36,444 $ 251,660 Three Months Ended March 31, 2023 Core Insolvency Total Recoveries (a) $ 364,236 $ 49,715 $ 413,951 Less - amounts reclassified to portfolio income 177,850 10,392 188,242 Recoveries applied to negative allowance $ 186,386 $ 39,323 $ 225,709 (a) Recoveries include cash collections, buybacks and other cash-based adjustments. (3) Changes in expected recoveries Changes in expected recoveries for the three months ended March 31, 2024 and 2023 were as follows (amounts in thousands): Three Months Ended March 31, 2024 Core Insolvency Total Changes in expected future recoveries $ 15,646 $ 190 $ 15,836 Recoveries received in excess of forecast 33,919 1,919 35,838 Changes in expected recoveries $ 49,565 $ 2,109 $ 51,674 Three Months Ended March 31, 2023 Core Insolvency Total Changes in expected future recoveries $ (41,414) $ 664 $ (40,750) Recoveries received in excess of forecast 286 3,552 3,838 Changes in expected recoveries $ (41,128) $ 4,216 $ (36,912) In order to estimate future cash collections, the Company considers factors such as historical collections performance and its view of economic conditions and consumer habits in the various geographies in which the Company operates. Based on these considerations, adjustments to estimated remaining collections ("ERC") may incorporate changes in both the amounts and the timing of expected cash collections over the forecast period. Changes in expected recoveries for the three months ended March 31, 2024 were $51.7 million. This was primarily due to $35.8 million in recoveries received in excess of forecast (cash collections overperformance), due largely to collections performance in the U.S., driven by the impact of the Company's cash-generating initiatives and supplemented by tax refund seasonality, as well as collections performance in Brazil and Europe. The changes in expected future recoveries of $15.8 million reflect the Company's assessment of certain pools in Europe, Brazil and the U.S., resulting in increases to the expected cash flows. Changes in expected recoveries for the three months ended March 31, 2023 were a net negative $36.9 million. This included $3.8 million in recoveries received in excess of forecast (cash collections overperformance) and a $40.8 million negative adjustment to changes in expected future recoveries. Overperformance decreased by $19.8 million as a result of reduced cash collections primarily in the U.S. due to a slower tax season. The changes in expected future recoveries reflected the Company's assessment of certain pools resulting in a reduction of expected cash flows as a result of slowing collection performance in the U.S. call centers resulting from weak economic conditions.

Investments

Investments	3 Months Ended
	Mar. 31, 2024
Investments, Debt and Equity Securities [Abstract]
Investments	Investments: Investments consisted of the following as of March 31, 2024 and December 31, 2023 (amounts in thousands): March 31, 2024 December 31, 2023 Debt securities Available-for-sale $ 47,149 $ 59,470 Equity securities Private equity funds 2,243 2,451 Equity method investment 9,487 10,483 Total investments $ 58,879 $ 72,404 Debt Securities Government securities: As of March 31, 2024, the Company's available-for-sale debt securities consisted of Swedish treasury securities, all of which mature within one year. A s of March 31, 2024 and December 31, 2023, the amortized cost and fair value of these investments were as follows (amounts in thousands): March 31, 2024 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Aggregate Fair Value Available-for-sale Government securities $ 47,037 $ 112 $ — $ 47,149 December 31, 2023 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Aggregate Fair Value Available-for-sale Government securities $ 59,404 $ 66 $ — $ 59,470 Equity Method Investment The Company ha s an 11.7% interest in RC

Goodwill

Goodwill	3 Months Ended
	Mar. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill	Goodwill: The Company performs an annual review of goodwill as of October 1 of each year, or more frequently if indicators of impairment exist, with the most recent annual review performed as of October 1, 2023 . The Company performed a quarterly assessment by evaluating whether any triggering events had occurred as of March 31, 2024 , which included considering current market conditions, and determined that goodwill was not more-likely-than-not impaired. Changes in goodwill for the three months ended March 31, 2024 and 2023, were as follows (amounts in thousands): Three Months Ended March 31, 2024 2023 Balance as of beginning of period $ 431,564 $ 435,921 Foreign currency translation (19,718) (15,274) Balance as of end of period $ 411,846 $ 420,647

Borrowings

Borrowings	3 Months Ended
	Mar. 31, 2024
Debt Disclosure [Abstract]
Borrowings	Borrowings: Borrowings consisted of the following as of March 31, 2024 and December 31, 2023 (amounts in thousands): March 31, 2024 December 31, 2023 North American revolving credit facility (1) $ 504,180 $ 396,303 United Kingdom revolving credit facility (2) 487,065 502,847 European revolving credit facility (3) 489,391 538,565 North American term loan (4) 437,500 442,500 Senior notes (5) 1,046,000 1,046,000 Total gross borrowings 2,964,136 2,926,215 Less: Debt discount and issuance costs (11,088) (11,945) Borrowings $ 2,953,048 $ 2,914,270 (1) Revolving credit facility under the Company's North American Revolving Credit and Term Loan (the "North American Credit Agreement"), which includes an aggregate principal amount of $1.5 billion (subject to compliance with a borrowing base and applicable debt covenants), consisting of (i) a fully-funded $437.5 million term loan (the "Term Loan"), (ii) a $1.0 billion domestic revolving credit facility, and (iii) a $75.0 million Canadian revolving credit facility, maturing on July 30, 2026. (2) Revolving credit facility under the Company's United Kingdom ("UK") Credit Agreement (the "UK Credit Agreement"), consisting of an $800.0 million revolving credit facility (subject to a borrowing base), a nd an accordion f eature for up to $200.0 million in additional commitments, subject to certain conditions, maturing on July 30, 2026. (3) Revolving credit facility under the Company's European Credit Agreement (the "European Credit Agreement"), providing revolving borrowings for an aggregate amount of approximately €730.0 million (subject to the borrowing base and applicable debt covenants), and an accordion feature for up to €500.0 million, subject to certain conditions, maturing on November 23, 2027. During the three months ended March 31, 2024, the lenders under the European Credit Agreement consented to an increase in the limit for interest bearing deposits in AK Nordic AB from SEK1.2 billion to SEK2.2 billion. (4) Term Loan under t he North American Credit Agreement. (5) Comprised of the Senior Notes due 2025 (the "2025 Notes"), Senior Notes due 2028 (the "2028 Notes") and the Senior Notes due 2029 (the "2029 Notes" and, together with the 2025 Notes and 2028 Notes, the "Senior Notes"), with outstanding principal balances of $298.0 million, $398.0 million and $350.0 million, respectively, as of March 31, 2024 and December 31, 2023. For additional details about the Company's credit facilities, Term Loan and Senior Notes, r efer to Note 7 to the Consolidated Financial Statements in the 2023 Form 10-K. Th e Company determined that it was in compliance with the covenants contained in its financing arrangements as of March 31, 2024 .

Derivatives

Derivatives	3 Months Ended
	Mar. 31, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivatives	Derivatives: The Company periodically enters into derivative financial instruments; typically interest rate swaps and foreign currency contracts, to reduce its exposure to fluctuations in interest rates on variable-rate debt and foreign currency exchange rates. Derivative financial instruments are recognized at fair value in the Company's Consolidated Balance Sheets. For further discussion of the Company's use of, and accounting policies for, derivative instruments, refer to Notes 1 and 8 to the Consolidated Financial Statements in the 2023 Form 10-K. The following table summarizes the fair value of derivative financial instruments as of March 31, 2024 and December 31, 2023 (amounts in thousands): March 31, 2024 December 31, 2023 Balance Sheet Account Fair Value Balance Sheet Account Fair Value Derivatives designated as hedging instruments: Interest rate contracts Other assets $ 20,999 Other assets $ 21,770 Interest rate contracts Other liabilities 7,071 Other liabilities 11,627 Derivatives not designated as hedging instruments: Foreign currency contracts Other assets 968 Other assets 1,007 Foreign currency contracts Other liabilities 1,375 Other liabilities 8,776 Derivatives Designated as Hedging Instruments: Changes in the fair value of derivative contracts designated as cash flow hedging instruments are recognized in other comprehensive income ("OCI"). As of March 31, 2024 and December 31, 2023, the notional amount of interest rate contracts designated as cash flow hedging instruments w as $812.9 million and $872.3 million, respectively. Derivatives designated as cash flow hedging instruments remained highly effective as of March 31, 2024, and have remaining ter ms from eight months to four years. As of March 31, 2024, t he Company estimat es that $12.8 million of net derivative gains included in OCI w ill be reclassified into earnings within the next 12 months. The following tables summarize the effects of derivatives designated as cash flow hedging instruments for the three months ended March 31, 2024 and 2023 (amounts in thousands): Gain/(loss) recognized in OCI, net of tax Three Months Ended March 31, Hedging instrument 2024 2023 Interest rate contracts $ 7,070 $ (629) Gain/(loss) reclassified from OCI into income Three Months Ended March 31, Income statement account 2024 2023 Interest expense, net $ 5,674 $ (5,498) Derivatives Not Designated as Hedging Instruments: The Company enters into foreign currency contracts to economically hedge foreign currency remeasurement exposure related to certain balances denominated in currencies other than the functional currency of the Company or its international subsidiaries. Changes in fair value of derivative contracts not designated as hedging instruments are recognized in earnings. As of March 31, 2024 and December 31, 2023, the notional amount of foreign currency contracts w as $307.4 million and $368.5 million, respectively. The following table summarizes the effects of derivatives not designated as hedging instruments for the three months ended March 31, 2024 and 2023 (amounts in thousands): Gain/(loss) recognized in income Three Months Ended March 31, Derivatives not designated as hedging instruments Income statement account 2024 2023 Foreign currency contracts Foreign exchange gain/(loss), net $ 100 $ (7,697) Foreign currency contracts Interest expense, net 192 521

Fair Value Measurements and Dis

Fair Value Measurements and Disclosures	3 Months Ended
	Mar. 31, 2024
Fair Value Disclosures [Abstract]
Fair Value	Fair Value: As defined by ASC Topic 820, "Fair Value Measurement and Disclosures" ("ASC 820"), 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 820 requires the consideration of different input levels in the determination of fair value, 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 Carried at Fair Value As of March 31, 2024 and December 31, 2023, the carrying amounts and estimated fair values of financial instruments not carried at fair value were as follows (amounts in thousands): March 31, 2024 December 31, 2023 Carrying Estimated Carrying Estimated Financial assets: Cash and cash equivalents $ 108,100 $ 108,100 $ 112,528 $ 112,528 Finance receivables, net 3,650,195 3,172,948 3,656,598 3,167,798 Financial liabilities: Interest-bearing deposits 113,259 113,259 115,589 115,589 Revolving lines of credit 1,480,636 1,480,636 1,437,715 1,437,715 Term Loan (1) 437,500 437,500 442,500 442,500 Senior Notes (1) 1,046,000 988,926 1,046,000 964,907 (1) Carrying amounts and estimated fair values do not include debt issuance costs. The Company uses the following methods and assumptions to estimate the fair value of the above financial instruments: Cash equivalents: Carrying amount approximates fair value due to the short-term nature of the instruments and the observable quoted prices for identical assets in active markets. Accordingly, the Company uses 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: 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: 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 estimate. Term loan: 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 estimate. Senior Notes: Fair value estimates for the Senior Notes incorporate quoted market prices obtained from secondary market broker quotes, which 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. Financial Instruments Carried at Fair Value As of March 31, 2024 and December 31, 2023, financial instruments measured at fair value on a recurring basis were as follows (amounts in thousands): Fair Value Measurements as of March 31, 2024 Level 1 Level 2 Level 3 Total Assets: Government securities $ 47,149 $ — $ — $ 47,149 Derivative contracts (recorded in Other assets) — 21,967 — 21,967 Liabilities: Derivative contracts (recorded in Other liabilities) — 8,446 — 8,446 Fair Value Measurements as of December 31, 2023 Level 1 Level 2 Level 3 Total Assets: Government securities $ 59,470 $ — $ — $ 59,470 Derivative contracts (recorded in Other assets) — 22,777 — 22,777 Liabilities: Derivative contracts (recorded in Other liabilities) — 20,403 — 20,403 The Company uses the following methods and assumptions to estimate the fair value of the above financial instruments: Government securities: Fair value of the Company's investments in government securities is estimated using quoted market prices. Accordingly, the Company uses Level 1 inputs. Derivative contracts: Fair value of derivative contracts is estimated using industry standard valuation models. These models project future cash flows and discount the future amounts to 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.

Accumulated Other Comprehensive

Accumulated Other Comprehensive Loss	3 Months Ended
	Mar. 31, 2024
Equity [Abstract]
Accumulated Other Comprehensive Loss	Accumulated Other Comprehensive Loss: Reclassifications out of Accumulated other comprehensive loss for the three months ended March 31, 2024 and 2023, were as follows (amounts in thousands): Three Months Ended March 31, Gain on cash flow hedges 2024 2023 Income Statement Account Interest rate swaps $ 5,674 $ 5,498 Interest expense, net Income tax effect of item above (1) (1,413) (1,296) Income tax expense/(benefit) Total gain on cash flow hedges $ 4,261 $ 4,202 (1) Income tax effects are released from Accumulated other comprehensive loss contemporaneously with the related gross pretax amount. Changes in Accumulated other comprehensive loss by component, after tax, for the three months ended March 31, 2024 and 2023, were as follows (amounts in thousands): Three Months Ended March 31, 2024 Debt Securities Cash Flow Currency Translation Accumulated Other Available-for-sale Hedges Adjustments Comprehensive Loss (1) Balance as of beginning of period $ 65 $ 6,597 $ (336,561) $ (329,899) Other comprehensive gain/(loss) before reclassifications 46 7,070 (45,973) (38,857) Reclassifications, net — (4,262) — (4,262) Net current period other comprehensive gain/(loss) 46 2,808 (45,973) (43,119) Balance as of end of period $ 111 $ 9,405 $ (382,534) $ (373,018) Three Months Ended March 31, 2023 Debt Securities Cash Flow Currency Translation Accumulated Other Available-for-sale Hedges Adjustments Comprehensive Loss (1) Balance as of beginning of period $ (237) $ 27,804 $ (375,493) $ (347,926) Other comprehensive gain/(loss) before reclassifications 128 (629) (4,101) (4,602) Reclassifications, net — (4,202) — (4,202) Net current period other comprehensive gain/(loss) 128 (4,831) (4,101) (8,804) Balance as of end of period $ (109) $ 22,973 $ (379,594) $ (356,730) (1) Net of deferred taxes for unre alized (gains)/losses from cash flow hedges of $(3.1) million and $(7.6) million for the three months ended March 31, 2024 and 2023, respectively.

Earnings Per Share

Earnings Per Share	3 Months Ended
	Mar. 31, 2024
Earnings Per Share [Abstract]
Earnings Per Share	Earnings per Share: Basic earnings per share ("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 nonvested share awards, if dilutive. 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. The following table provides a reconciliation between the computation of basic and diluted EPS f or the three months ended March 31, 2024 and 2023 (amounts in thousands, except per share amounts): Three Months Ended March 31, 2024 2023 Net Income Attributable to PRA Group, Inc. Weighted EPS Net Loss Attributable to PRA Group, Inc. Weighted EPS Basic EPS $ 3,475 39,274 $ 0.09 $ (58,629) 39,033 $ (1.50) Dilutive effect of nonvested share awards — 174 — — — — Diluted EPS $ 3,475 39,448 $ 0.09 $ (58,629) 39,033 $ (1.50)

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	Mar. 31, 2024
Commitments and Contingencies Disclosure [Abstract]
Commitments And Contingencies	Commitments and Contingencies: Forward Flow Agreements: The Company enters into forward flow agreements for the purchase of nonperforming loans. These agreements typically have terms ranging from six to 12 months, or they can be open-ended, and establish purchase prices and specific criteria for the accounts to be purchased. Some of the agreements establish a volume reference for the contract term in the form of a target or maximum, however, very few agreements establish a minimum contractual obligation, and many of the contracts contain early termination provisions allowing either party to cancel the agreements in accordance with a specified notice period. The amounts purchased are also dependent on actual delivery by the sellers, and while purchases under these agreements comprise a significant portion of the Company's overall purchases, as of March 31, 2024, the minimum purchase obligation under these forward flow agreements was not significant. Litigation and Regulatory Matters: The Company and its subsidiaries are from time-to-time subject to a variety of 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 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 claim, 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 exceed the current estimate. 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.

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Pay vs Performance Disclosure
Net income	$ 3,475	$ (58,629)

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
	Mar. 31, 2024
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

Organization and Business (Poli

Organization and Business (Policies)	3 Months Ended
	Mar. 31, 2024
Organization, Consolidation and Presentation of Financial Statements [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 accompanying interim financial statements have been prepared in accordance with the instructions for Quarterly Reports on Form 10-Q, and therefore, do not include all information and Notes to the Consolidated Financial Statements necessary for a complete presentation of financial position, results of operations, comprehensive income/(loss) and cash flows in conformity with GAAP. In the opinion of management, all adjustments, consisting of normal and recurring items, necessary for the fair presentation of the Company's Consolidated Balance Sheets as of March 31, 2024, and the Consolidated Income Statements, Statements of Comprehensive Income, Statements of Changes in Equity and Statements of Cash Flows for the three months ended March 31, 2024 and 2023, have been included. 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.
New Accounting Pronouncements	Recently issued accounting standards not yet adopted: The Company does not expect that any recently issued accounting pronouncements will have a material effect on its Consolidated Financial Statements.

Finance Receivables, net (Table

Finance Receivables, net (Tables)	3 Months Ended
	Mar. 31, 2024
Receivables [Abstract]
Schedule of Finance Receivables, Net	Finance receivables, net consisted of the following as of March 31, 2024 and December 31, 2023 (amounts in thousands): March 31, 2024 December 31, 2023 Amortized cost $ — $ — Negative allowance for expected recoveries 3,650,195 3,656,598 Balance at end of period $ 3,650,195 $ 3,656,598
Schedule of Changes in Negative Allowance for Expected Recoveries	Changes in the negative allowance for expected recoveries by portfolio segment for the three months ended March 31, 2024 and 2023 were as follows (amounts in thousands): Three Months Ended March 31, 2024 Core Insolvency Total Balance at beginning of period $ 3,295,214 $ 361,384 $ 3,656,598 Initial negative allowance for expected recoveries - portfolio acquisitions (1) 218,657 27,160 245,817 Foreign currency translation adjustment (50,127) (2,107) (52,234) Recoveries applied to negative allowance (2) (215,216) (36,444) (251,660) Changes in expected recoveries (3) 49,564 2,110 51,674 Balance at end of period $ 3,298,092 $ 352,103 $ 3,650,195 Three Months Ended March 31, 2023 Core Insolvency Total Balance at beginning of period $ 2,936,207 $ 358,801 $ 3,295,008 Initial negative allowance for expected recoveries - portfolio acquisitions (1) 207,322 22,903 230,225 Foreign currency translation adjustment 19,835 4,050 23,885 Recoveries applied to negative allowance (2) (186,386) (39,323) (225,709) Changes in expected recoveries (3) (41,128) 4,216 (36,912) Balance at end of period $ 2,935,850 $ 350,647 $ 3,286,497 (1) Initial negative allowance for expected recoveries - portfolio acquisitions Portfolio acquisitions for the three months ended March 31, 2024 and 2023 were as follows (amounts in thousands): Three Months Ended March 31, 2024 Core Insolvency Total Face value $ 1,708,631 $ 114,216 $ 1,822,847 Noncredit discount (231,385) (13,442) (244,827) Allowance for credit losses at acquisition (1,258,589) (73,614) (1,332,203) Purchase price $ 218,657 $ 27,160 $ 245,817 Three Months Ended March 31, 2023 Core Insolvency Total Face value $ 1,507,965 $ 104,809 $ 1,612,774 Noncredit discount (150,511) (8,042) (158,553) Allowance for credit losses at acquisition (1,150,132) (73,864) (1,223,996) Purchase price $ 207,322 $ 22,903 $ 230,225 The initial negative allowance recorded on portfolio acquisitions for the three months ended March 31, 2024 and 2023 was as follows (amounts in thousands): Three Months Ended March 31, 2024 Core Insolvency Total Allowance for credit losses at acquisition $ (1,258,589) $ (73,614) $ (1,332,203) Writeoffs, net 1,258,589 73,614 1,332,203 Expected recoveries 218,657 27,160 245,817 Initial negative allowance for expected recoveries $ 218,657 $ 27,160 $ 245,817 Three Months Ended March 31, 2023 Core Insolvency Total Allowance for credit losses at acquisition $ (1,150,132) $ (73,864) $ (1,223,996) Writeoffs, net 1,150,132 73,864 1,223,996 Expected recoveries 207,322 22,903 230,225 Initial negative allowance for expected recoveries $ 207,322 $ 22,903 $ 230,225 (2) Recoveries applied to negative allowance Recoveries applied to the negative allowance for the three months ended March 31, 2024 and 2023 were as follows (amounts in thousands): Three Months Ended March 31, 2024 Core Insolvency Total Recoveries (a) $ 406,313 $ 47,403 $ 453,716 Less - amounts reclassified to portfolio income 191,097 10,959 202,056 Recoveries applied to negative allowance $ 215,216 $ 36,444 $ 251,660 Three Months Ended March 31, 2023 Core Insolvency Total Recoveries (a) $ 364,236 $ 49,715 $ 413,951 Less - amounts reclassified to portfolio income 177,850 10,392 188,242 Recoveries applied to negative allowance $ 186,386 $ 39,323 $ 225,709 (a) Recoveries include cash collections, buybacks and other cash-based adjustments. (3) Changes in expected recoveries Changes in expected recoveries for the three months ended March 31, 2024 and 2023 were as follows (amounts in thousands): Three Months Ended March 31, 2024 Core Insolvency Total Changes in expected future recoveries $ 15,646 $ 190 $ 15,836 Recoveries received in excess of forecast 33,919 1,919 35,838 Changes in expected recoveries $ 49,565 $ 2,109 $ 51,674 Three Months Ended March 31, 2023 Core Insolvency Total Changes in expected future recoveries $ (41,414) $ 664 $ (40,750) Recoveries received in excess of forecast 286 3,552 3,838 Changes in expected recoveries $ (41,128) $ 4,216 $ (36,912)

Investments (Tables)

Investments (Tables)	3 Months Ended
	Mar. 31, 2024
Investments, Debt and Equity Securities [Abstract]
Summary of Investments	Investments consisted of the following as of March 31, 2024 and December 31, 2023 (amounts in thousands): March 31, 2024 December 31, 2023 Debt securities Available-for-sale $ 47,149 $ 59,470 Equity securities Private equity funds 2,243 2,451 Equity method investment 9,487 10,483 Total investments $ 58,879 $ 72,404
Schedule of Amortized Cost and Estimated Fair Value in Debt Securities	March 31, 2024 and December 31, 2023, the amortized cost and fair value of these investments were as follows (amounts in thousands): March 31, 2024 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Aggregate Fair Value Available-for-sale Government securities $ 47,037 $ 112 $ — $ 47,149 December 31, 2023 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Aggregate Fair Value Available-for-sale Government securities $ 59,404 $ 66 $ — $ 59,470

Goodwill (Tables)

Goodwill (Tables)	3 Months Ended
	Mar. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Changes in Goodwill	hanges in goodwill for the three months ended March 31, 2024 and 2023, were as follows (amounts in thousands): Three Months Ended March 31, 2024 2023 Balance as of beginning of period $ 431,564 $ 435,921 Foreign currency translation (19,718) (15,274) Balance as of end of period $ 411,846 $ 420,647

Borrowings (Tables)

Borrowings (Tables)	3 Months Ended
	Mar. 31, 2024
Debt Disclosure [Abstract]
Schedule of Debt	Borrowings consisted of the following as of March 31, 2024 and December 31, 2023 (amounts in thousands): March 31, 2024 December 31, 2023 North American revolving credit facility (1) $ 504,180 $ 396,303 United Kingdom revolving credit facility (2) 487,065 502,847 European revolving credit facility (3) 489,391 538,565 North American term loan (4) 437,500 442,500 Senior notes (5) 1,046,000 1,046,000 Total gross borrowings 2,964,136 2,926,215 Less: Debt discount and issuance costs (11,088) (11,945) Borrowings $ 2,953,048 $ 2,914,270 (1) Revolving credit facility under the Company's North American Revolving Credit and Term Loan (the "North American Credit Agreement"), which includes an aggregate principal amount of $1.5 billion (subject to compliance with a borrowing base and applicable debt covenants), consisting of (i) a fully-funded $437.5 million term loan (the "Term Loan"), (ii) a $1.0 billion domestic revolving credit facility, and (iii) a $75.0 million Canadian revolving credit facility, maturing on July 30, 2026. (2) Revolving credit facility under the Company's United Kingdom ("UK") Credit Agreement (the "UK Credit Agreement"), consisting of an $800.0 million revolving credit facility (subject to a borrowing base), a nd an accordion f eature for up to $200.0 million in additional commitments, subject to certain conditions, maturing on July 30, 2026. (3) Revolving credit facility under the Company's European Credit Agreement (the "European Credit Agreement"), providing revolving borrowings for an aggregate amount of approximately €730.0 million (subject to the borrowing base and applicable debt covenants), and an accordion feature for up to €500.0 million, subject to certain conditions, maturing on November 23, 2027. During the three months ended March 31, 2024, the lenders under the European Credit Agreement consented to an increase in the limit for interest bearing deposits in AK Nordic AB from SEK1.2 billion to SEK2.2 billion. (4) Term Loan under t he North American Credit Agreement. (5) Comprised of the Senior Notes due 2025 (the "2025 Notes"), Senior Notes due 2028 (the "2028 Notes") and the Senior Notes due 2029 (the "2029 Notes" and, together with the 2025 Notes and 2028 Notes, the "Senior Notes"), with outstanding principal balances of $298.0 million, $398.0 million and $350.0 million, respectively, as of March 31, 2024 and December 31, 2023.

Derivatives (Tables)

Derivatives (Tables)	3 Months Ended
	Mar. 31, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of Derivative Instruments	The following table summarizes the fair value of derivative financial instruments as of March 31, 2024 and December 31, 2023 (amounts in thousands): March 31, 2024 December 31, 2023 Balance Sheet Account Fair Value Balance Sheet Account Fair Value Derivatives designated as hedging instruments: Interest rate contracts Other assets $ 20,999 Other assets $ 21,770 Interest rate contracts Other liabilities 7,071 Other liabilities 11,627 Derivatives not designated as hedging instruments: Foreign currency contracts Other assets 968 Other assets 1,007 Foreign currency contracts Other liabilities 1,375 Other liabilities 8,776
Schedule of Cash Flow Hedging Instruments, Statements of Financial Performance and Financial Position, Location	The following tables summarize the effects of derivatives designated as cash flow hedging instruments for the three months ended March 31, 2024 and 2023 (amounts in thousands): Gain/(loss) recognized in OCI, net of tax Three Months Ended March 31, Hedging instrument 2024 2023 Interest rate contracts $ 7,070 $ (629) Gain/(loss) reclassified from OCI into income Three Months Ended March 31, Income statement account 2024 2023 Interest expense, net $ 5,674 $ (5,498)
Schedule of derivative instruments not designated as hedging instruments	The following table summarizes the effects of derivatives not designated as hedging instruments for the three months ended March 31, 2024 and 2023 (amounts in thousands): Gain/(loss) recognized in income Three Months Ended March 31, Derivatives not designated as hedging instruments Income statement account 2024 2023 Foreign currency contracts Foreign exchange gain/(loss), net $ 100 $ (7,697) Foreign currency contracts Interest expense, net 192 521

Fair Value Measurements and D_2

Fair Value Measurements and Disclosures (Tables)	3 Months Ended
	Mar. 31, 2024
Fair Value Disclosures [Abstract]
Schedule of financial instruments not required to be carried at fair value	carrying amounts and estimated fair values of financial instruments not carried at fair value were as follows (amounts in thousands): March 31, 2024 December 31, 2023 Carrying Estimated Carrying Estimated Financial assets: Cash and cash equivalents $ 108,100 $ 108,100 $ 112,528 $ 112,528 Finance receivables, net 3,650,195 3,172,948 3,656,598 3,167,798 Financial liabilities: Interest-bearing deposits 113,259 113,259 115,589 115,589 Revolving lines of credit 1,480,636 1,480,636 1,437,715 1,437,715 Term Loan (1) 437,500 437,500 442,500 442,500 Senior Notes (1) 1,046,000 988,926 1,046,000 964,907 (1) Carrying amounts and estimated fair values do not include debt issuance costs. The Company uses the following methods and assumptions to estimate the fair value of the above financial instruments: Cash equivalents: Carrying amount approximates fair value due to the short-term nature of the instruments and the observable quoted prices for identical assets in active markets. Accordingly, the Company uses 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: 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: 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 estimate. Term loan: 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 estimate. Senior Notes: Fair value estimates for the Senior Notes incorporate quoted market prices obtained from secondary market broker quotes, which 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.
Schedule of financial instruments required to be carried at fair value	at fair value on a recurring basis were as follows (amounts in thousands): Fair Value Measurements as of March 31, 2024 Level 1 Level 2 Level 3 Total Assets: Government securities $ 47,149 $ — $ — $ 47,149 Derivative contracts (recorded in Other assets) — 21,967 — 21,967 Liabilities: Derivative contracts (recorded in Other liabilities) — 8,446 — 8,446 Fair Value Measurements as of December 31, 2023 Level 1 Level 2 Level 3 Total Assets: Government securities $ 59,470 $ — $ — $ 59,470 Derivative contracts (recorded in Other assets) — 22,777 — 22,777 Liabilities: Derivative contracts (recorded in Other liabilities) — 20,403 — 20,403 The Company uses the following methods and assumptions to estimate the fair value of the above financial instruments: Government securities: Fair value of the Company's investments in government securities is estimated using quoted market prices. Accordingly, the Company uses Level 1 inputs. Derivative contracts: Fair value of derivative contracts is estimated using industry standard valuation models. These models project future cash flows and discount the future amounts to 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.

Accumulated Other Comprehensi_2

Accumulated Other Comprehensive Loss (Tables)	3 Months Ended
	Mar. 31, 2024
Equity [Abstract]
Reclassification out of Accumulated Other Comprehensive Income	Reclassifications out of Accumulated other comprehensive loss for the three months ended March 31, 2024 and 2023, were as follows (amounts in thousands): Three Months Ended March 31, Gain on cash flow hedges 2024 2023 Income Statement Account Interest rate swaps $ 5,674 $ 5,498 Interest expense, net Income tax effect of item above (1) (1,413) (1,296) Income tax expense/(benefit) Total gain on cash flow hedges $ 4,261 $ 4,202 (1) Income tax effects are released from Accumulated other comprehensive loss contemporaneously with the related gross pretax amount.
Schedule of Accumulated Other Comprehensive Income (Loss)	Changes in Accumulated other comprehensive loss by component, after tax, for the three months ended March 31, 2024 and 2023, were as follows (amounts in thousands): Three Months Ended March 31, 2024 Debt Securities Cash Flow Currency Translation Accumulated Other Available-for-sale Hedges Adjustments Comprehensive Loss (1) Balance as of beginning of period $ 65 $ 6,597 $ (336,561) $ (329,899) Other comprehensive gain/(loss) before reclassifications 46 7,070 (45,973) (38,857) Reclassifications, net — (4,262) — (4,262) Net current period other comprehensive gain/(loss) 46 2,808 (45,973) (43,119) Balance as of end of period $ 111 $ 9,405 $ (382,534) $ (373,018) Three Months Ended March 31, 2023 Debt Securities Cash Flow Currency Translation Accumulated Other Available-for-sale Hedges Adjustments Comprehensive Loss (1) Balance as of beginning of period $ (237) $ 27,804 $ (375,493) $ (347,926) Other comprehensive gain/(loss) before reclassifications 128 (629) (4,101) (4,602) Reclassifications, net — (4,202) — (4,202) Net current period other comprehensive gain/(loss) 128 (4,831) (4,101) (8,804) Balance as of end of period $ (109) $ 22,973 $ (379,594) $ (356,730) (1) Net of deferred taxes for unre alized (gains)/losses from cash flow hedges of $(3.1) million and $(7.6) million for the three months ended March 31, 2024 and 2023, respectively.

Earnings Per Share (Tables)

Earnings Per Share (Tables)	3 Months Ended
	Mar. 31, 2024
Earnings Per Share [Abstract]
Reconciliation Between the Computation of Basic and Diluted EPS	The following table provides a reconciliation between the computation of basic and diluted EPS f or the three months ended March 31, 2024 and 2023 (amounts in thousands, except per share amounts): Three Months Ended March 31, 2024 2023 Net Income Attributable to PRA Group, Inc. Weighted EPS Net Loss Attributable to PRA Group, Inc. Weighted EPS Basic EPS $ 3,475 39,274 $ 0.09 $ (58,629) 39,033 $ (1.50) Dilutive effect of nonvested share awards — 174 — — — — Diluted EPS $ 3,475 39,448 $ 0.09 $ (58,629) 39,033 $ (1.50)

Finance Receivables, net (Rollf

Finance Receivables, net (Rollforward) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Dec. 31, 2023	Dec. 31, 2022
Receivables [Abstract]
Amortized cost	$ 0		$ 0
Negative allowance for expected recoveries	3,650,195		3,656,598
Balance at end of period	3,650,195	$ 3,286,497	3,656,598	$ 3,295,008
Financing Receivable, Allowance for Credit Losses [Line Items]
Balance at end of period	3,650,195	3,286,497	3,656,598	3,295,008
Initial negative allowance for expected recoveries - acquisitions	245,817	230,225
Foreign currency translation adjustment	(52,234)	23,885
Financing Receivable, Allowance for Credit Loss, Recovery	(251,660)	(225,709)
Changes in estimated recoveries	51,674	(36,912)
Core
Receivables [Abstract]
Balance at end of period	3,298,092	2,935,850	3,295,214	2,936,207
Financing Receivable, Allowance for Credit Losses [Line Items]
Balance at end of period	3,298,092	2,935,850	3,295,214	2,936,207
Initial negative allowance for expected recoveries - acquisitions	218,657	207,322
Foreign currency translation adjustment	(50,127)	19,835
Financing Receivable, Allowance for Credit Loss, Recovery	(215,216)	(186,386)
Changes in estimated recoveries	49,565	(41,128)
Insolvency
Receivables [Abstract]
Balance at end of period	352,103	350,647	361,384	358,801
Financing Receivable, Allowance for Credit Losses [Line Items]
Balance at end of period	352,103	350,647	$ 361,384	$ 358,801
Initial negative allowance for expected recoveries - acquisitions	27,160	22,903
Foreign currency translation adjustment	(2,107)	4,050
Financing Receivable, Allowance for Credit Loss, Recovery	(36,444)	(39,323)
Changes in estimated recoveries	$ 2,109	$ 4,216

Finance Receivables, net Financ

Finance Receivables, net Finance Receivables, net (Allowance for Expected Recoveries) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Dec. 31, 2023	Dec. 31, 2022
Financing Receivable, Allowance for Credit Losses [Roll Forward]
Balance at beginning of period	$ 3,656,598
Initial negative allowance for expected recoveries - acquisitions	245,817	$ 230,225
Foreign currency translation adjustment	(52,234)	23,885
Recoveries applied to negative allowance	(251,660)	(225,709)
Changes in estimated recoveries	51,674	(36,912)
Balance at end of period	3,650,195
Balance at end of period	3,650,195	3,286,497	$ 3,656,598	$ 3,295,008
Core
Financing Receivable, Allowance for Credit Losses [Roll Forward]
Initial negative allowance for expected recoveries - acquisitions	218,657	207,322
Foreign currency translation adjustment	(50,127)	19,835
Recoveries applied to negative allowance	(215,216)	(186,386)
Changes in estimated recoveries	49,565	(41,128)
Balance at end of period	3,298,092	2,935,850	3,295,214	2,936,207
Insolvency
Financing Receivable, Allowance for Credit Losses [Roll Forward]
Initial negative allowance for expected recoveries - acquisitions	27,160	22,903
Foreign currency translation adjustment	(2,107)	4,050
Recoveries applied to negative allowance	(36,444)	(39,323)
Changes in estimated recoveries	2,109	4,216
Balance at end of period	$ 352,103	$ 350,647	$ 361,384	$ 358,801

Finance Receivables, net (Portf

Finance Receivables, net (Portfolio Acquisitions) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Accounts, Notes, Loans and Financing Receivable [Line Items]
Face value	$ 1,822,847	$ 1,612,774
Noncredit discount	(244,827)	(158,553)
Allowance for credit losses at acquisition	(1,332,203)	(1,223,996)
Purchase price	245,817	230,225
Core
Accounts, Notes, Loans and Financing Receivable [Line Items]
Face value	1,708,631	1,507,965
Noncredit discount	(231,385)	(150,511)
Allowance for credit losses at acquisition	(1,258,589)	(1,150,132)
Purchase price	218,657	207,322
Insolvency
Accounts, Notes, Loans and Financing Receivable [Line Items]
Face value	114,216	104,809
Noncredit discount	(13,442)	(8,042)
Allowance for credit losses at acquisition	(73,614)	(73,864)
Purchase price	$ 27,160	$ 22,903

Finance Receivables, net Fina_2

Finance Receivables, net Finance Receivables, net (Initial Negative Allowance for Recoveries) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Dec. 31, 2023	Dec. 31, 2022
Financing Receivable, Allowance for Credit Losses [Line Items]
Allowance for credit losses at acquisition	$ (1,332,203)	$ (1,223,996)
Writeoffs, net	1,332,203	1,223,996
Expected recoveries	245,817	230,225
Purchase price	245,817	230,225
Amortized cost	0		$ 0
Negative allowance for expected recoveries	3,650,195		3,656,598
Balance at end of period	3,650,195	3,286,497	3,656,598	$ 3,295,008
Core
Financing Receivable, Allowance for Credit Losses [Line Items]
Allowance for credit losses at acquisition	(1,258,589)	(1,150,132)
Writeoffs, net	1,258,589	1,150,132
Expected recoveries	218,657	207,322
Purchase price	218,657	207,322
Balance at end of period	3,298,092	2,935,850	3,295,214	2,936,207
Insolvency
Financing Receivable, Allowance for Credit Losses [Line Items]
Allowance for credit losses at acquisition	(73,614)	(73,864)
Writeoffs, net	73,614	73,864
Expected recoveries	27,160	22,903
Purchase price	27,160	22,903
Balance at end of period	$ 352,103	$ 350,647	$ 361,384	$ 358,801

Finance Receivables, net Fina_3

Finance Receivables, net Finance Receivables, net (Recoveries) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Dec. 31, 2023	Dec. 31, 2022
Financing Receivable, Allowance for Credit Losses [Line Items]
Recoveries	$ 453,716	$ 413,951
Less - amounts reclassified to portfolio income	202,056	188,242
Recoveries applied to negative allowance	251,660	225,709
Amortized cost	0		$ 0
Balance at end of period	3,650,195	3,286,497	3,656,598	$ 3,295,008
Initial negative allowance for expected recoveries - acquisitions	245,817	230,225
Foreign currency translation adjustment	(52,234)	23,885
Changes in estimated recoveries	51,674	(36,912)
Debt Securities, Available-for-Sale	47,149		59,470
Equity Method Investments	9,487		10,483
Additional Paid-in Capital
Financing Receivable, Allowance for Credit Losses [Line Items]
Vesting of restricted stock	(1)	(2)
Common Stock
Financing Receivable, Allowance for Credit Losses [Line Items]
Vesting of restricted stock	1	2
Government Bonds and Fixed Income Funds [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Debt Securities, Available-for-Sale, Amortized Cost	47,037		59,404
Debt Securities, Available-for-Sale, Accumulated Gross Unrealized Gain, before Tax	112		66
Debt Securities, Available-for-Sale, Accumulated Gross Unrealized Loss, before Tax	0		0
Debt Securities, Available-for-Sale	47,149		59,470
Core
Financing Receivable, Allowance for Credit Losses [Line Items]
Recoveries	406,313	364,236
Less - amounts reclassified to portfolio income	191,097	177,850
Recoveries applied to negative allowance	215,216	186,386
Balance at end of period	3,298,092	2,935,850	3,295,214	2,936,207
Initial negative allowance for expected recoveries - acquisitions	218,657	207,322
Foreign currency translation adjustment	(50,127)	19,835
Changes in estimated recoveries	49,565	(41,128)
Insolvency
Financing Receivable, Allowance for Credit Losses [Line Items]
Recoveries	47,403	49,715
Less - amounts reclassified to portfolio income	10,959	10,392
Recoveries applied to negative allowance	36,444	39,323
Balance at end of period	352,103	350,647	$ 361,384	$ 358,801
Initial negative allowance for expected recoveries - acquisitions	27,160	22,903
Foreign currency translation adjustment	(2,107)	4,050
Changes in estimated recoveries	$ 2,109	$ 4,216

Finance Receivables, net (Chang

Finance Receivables, net (Changes in Estimated Future Recoveries) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Financing Receivable, Allowance for Credit Losses [Line Items]
Changes in expected future recoveries	$ 15,836	$ (40,750)
Recoveries received in excess of forecast	35,838	3,838
Financing Receivable, Allowance For Credit Loss, Changes In Estimated Recoveries	51,674	(36,912)
Recoveries	453,716	413,951
Less - amounts reclassified to portfolio income	202,056	188,242
Recoveries applied to negative allowance	251,660	225,709
Core
Financing Receivable, Allowance for Credit Losses [Line Items]
Changes in expected future recoveries	15,646	(41,414)
Recoveries received in excess of forecast	33,919	286
Financing Receivable, Allowance For Credit Loss, Changes In Estimated Recoveries	49,565	(41,128)
Recoveries	406,313	364,236
Less - amounts reclassified to portfolio income	191,097	177,850
Recoveries applied to negative allowance	215,216	186,386
Insolvency
Financing Receivable, Allowance for Credit Losses [Line Items]
Changes in expected future recoveries	190	664
Recoveries received in excess of forecast	1,919	3,552
Financing Receivable, Allowance For Credit Loss, Changes In Estimated Recoveries	2,109	4,216
Recoveries	47,403	49,715
Less - amounts reclassified to portfolio income	10,959	10,392
Recoveries applied to negative allowance	$ 36,444	$ 39,323

Finance Receivables, net (Narra

Finance Receivables, net (Narrative) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Receivables [Abstract]
Changes in estimated recoveries	$ 51,674	$ (36,912)
Recoveries received in excess of forecast	35,838	3,838
Changes in expected future recoveries	$ 15,836	(40,750)
Overperformance decrease		$ 19,800

Investments - Summary of Invest

Investments - Summary of Investments (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Debt Securities [Abstract]
Debt Securities, Available-for-Sale	$ 47,149	$ 59,470
Equity Securities [Abstract]
Equity Method Investments	9,487	10,483
Investments	58,879	72,404
Private equity funds
Equity Securities [Abstract]
Equity Securities, FV-NI, Current	$ 2,243	$ 2,451

Investments - Amortized Costs (

Investments - Amortized Costs (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Available-for-sale
Debt Securities, Available-for-Sale	$ 47,149	$ 59,470
Government Bonds and Fixed Income Funds
Available-for-sale
Debt Securities, Available-for-Sale, Amortized Cost	47,037	59,404
Debt Securities, Available-for-Sale, Accumulated Gross Unrealized Gain, before Tax	112	66
Debt Securities, Available-for-Sale, Accumulated Gross Unrealized Loss, before Tax	0	0
Debt Securities, Available-for-Sale	$ 47,149	$ 59,470

Investments - Narrative (Detail

Investments - Narrative (Details)	Mar. 31, 2024
RCB Investimentos S.A. (RCB) | RCB Investimentos S.A.
Debt and Equity Securities, FV-NI [Line Items]
Ownership percentage	11.70%

Goodwill (Details)

Goodwill (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Goodwill [Roll Forward]
Goodwill, Beginning Balance	$ 431,564	$ 435,921
Goodwill, Foreign Currency Translation Gain (Loss)	(19,718)	(15,274)
Goodwill, Ending Balance	$ 411,846	$ 420,647

Borrowings - Components of Borr

Borrowings - Components of Borrowings (Details) € in Millions, kr in Billions	3 Months Ended
	Mar. 31, 2024 SEK (kr)	Mar. 31, 2023 SEK (kr)	Mar. 31, 2024 USD ($)	Mar. 31, 2024 EUR (€)	Dec. 31, 2023 USD ($)	Feb. 06, 2023 USD ($)	Sep. 22, 2021 USD ($)	Aug. 27, 2020 USD ($)
Debt Instrument [Line Items]
Debt outstanding			$ 2,964,136,000		$ 2,926,215,000
Debt Instrument, Unamortized Discount (Premium) and Debt Issuance Costs, Net			(11,088,000)		(11,945,000)
Debt, Long-Term and Short-Term, Combined Amount			2,953,048,000		2,914,270,000
North American Credit Agreement
Debt Instrument [Line Items]
Line of Credit Facility, Maximum Borrowing Capacity			1,500,000,000
Senior Notes
Debt Instrument [Line Items]
Debt outstanding			1,046,000,000		1,046,000,000
Senior Notes | 2029 Notes
Debt Instrument [Line Items]
Principal amount							$ 350,000,000
Senior Notes | 2028 Notes
Debt Instrument [Line Items]
Principal amount						$ 398,000,000
Senior Notes | 2025 Notes
Debt Instrument [Line Items]
Principal amount								$ 298,000,000
Loans Payable | North American Credit Agreement
Debt Instrument [Line Items]
Debt outstanding			437,500,000		442,500,000
Americas Revolving Credit Facility | Line of Credit
Debt Instrument [Line Items]
Debt outstanding			504,180,000		396,303,000
UK revolving credit facility | Line of Credit | UK Credit Agreement
Debt Instrument [Line Items]
Debt outstanding			487,065,000		502,847,000
Long term line of debt, accordion feature			200,000,000
Line of Credit Facility, Maximum Borrowing Capacity			800,000,000
European revolving credit facility | European Revolving Credit Facility | Maximum
Debt Instrument [Line Items]
Debt Instrument, covenant, interest bearing deposits, maximum | kr	kr 2.2	kr 1.2
European revolving credit facility | Line of Credit | European Revolving Credit Facility
Debt Instrument [Line Items]
Debt outstanding			489,391,000		$ 538,565,000
Long term line of debt, accordion feature | €				€ 500
Line of Credit Facility, Maximum Borrowing Capacity | €				€ 730
Revolving Credit Facility | North American Credit Agreement
Debt Instrument [Line Items]
Line of Credit Facility, Maximum Borrowing Capacity			1,000,000,000
Canadian Revolving Credit Facility | North American Credit Agreement
Debt Instrument [Line Items]
Line of Credit Facility, Maximum Borrowing Capacity			$ 75,000,000

Derivatives - Schedule of Deriv

Derivatives - Schedule of Derivatives by Balance Sheet Location (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Derivatives, Fair Value [Line Items]
Derivative Liability	$ 8,446	$ 20,403
Derivative Asset, Statement of Financial Position [Extensible Enumeration]	Other Assets	Other Assets
Derivative Asset	$ 21,967	$ 22,777
Derivative Liability, Statement of Financial Position [Extensible Enumeration]	Other Liabilities, Current	Other Liabilities, Current
Interest expense, net | Designated as Hedging Instrument
Derivatives, Fair Value [Line Items]
Derivative Liability	$ 7,071	$ 11,627
Derivative Asset	20,999	21,770
Foreign currency contracts | Not Designated as Hedging Instrument
Derivatives, Fair Value [Line Items]
Derivative Liability	1,375	8,776
Derivative Asset	$ 968	$ 1,007

Derivatives - Narrative (Detail

Derivatives - Narrative (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Dec. 31, 2023
Designated as Hedging Instrument | Interest expense, net
Derivative [Line Items]
Derivative, Notional Amount1	$ 812.9	$ 872.3
Net derivative gain (loss) included in OCI to be reclassified next 12 months	12.8
Not Designated as Hedging Instrument | Foreign currency contracts
Derivative [Line Items]
Derivative, Notional Amount1	$ 307.4	$ 368.5
Maximum
Derivative [Line Items]
Derivative, Term of Contract	4 years
Minimum
Derivative [Line Items]
Derivative, Term of Contract	8 months

Derivatives - Schedule of Effec

Derivatives - Schedule of Effects of Derivatives Designated as Cash Flow Hedging Instruments (Details) - Interest expense, net - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Derivative Instruments, Gain (Loss) [Line Items]
Gain/(loss) recognized in OCI, net of tax	$ 7,070	$ (629)
Interest expense, net
Derivative Instruments, Gain (Loss) [Line Items]
Gain/(loss) reclassified from OCI into income	$ 5,674	$ (5,498)

Derivatives - Schedule of Eff_2

Derivatives - Schedule of Effects of Derivatives Not Designated as Hedging Instruments (Details) - Foreign currency contracts - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Foreign Currency Gain (Loss) [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Gain/(loss) recognized in income	$ 100	$ (7,697)
Interest expense, net
Derivative Instruments, Gain (Loss) [Line Items]
Gain/(loss) recognized in income	$ 192	$ 521

Fair Value Measurements And D_3

Fair Value Measurements And Disclosures - Financial Instruments Not Required to be Carried at Fair Value (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023	Mar. 31, 2023
Financial Instruments, Financial Assets, Balance Sheet Groupings [Abstract]
Cash and cash equivalents, carrying amount	$ 108,100	$ 112,528	$ 116,471
Financing Receivable, after Allowance for Credit Loss, Current	3,650,195	3,656,598
Financial Instruments, Financial Liabilities, Balance Sheet Groupings [Abstract]
Interest-bearing deposits, carrying value	113,259	115,589
Restricted Cash and Cash Equivalents	1,487		$ 359,208
Reported Value Measurement [Member]
Financial Instruments, Financial Assets, Balance Sheet Groupings [Abstract]
Cash and cash equivalents, carrying amount	108,100	112,528
Financing Receivable, after Allowance for Credit Loss, Current	3,650,195	3,656,598
Financial Instruments, Financial Liabilities, Balance Sheet Groupings [Abstract]
Interest-bearing deposits, carrying value	113,259	115,589
Outstanding borrowings under credit facility	1,480,636	1,437,715
Term loans, carrying amount	437,500	442,500
Senior Notes, carrying amount	1,046,000	1,046,000
Estimate of Fair Value Measurement [Member]
Financial Instruments, Financial Assets, Balance Sheet Groupings [Abstract]
Cash and cash equivalents, estimated fair value	108,100	112,528
Finance receivables, net, estimated fair value	3,172,948	3,167,798
Financial Instruments, Financial Liabilities, Balance Sheet Groupings [Abstract]
Interest-bearing deposits, fair value	113,259	115,589
Revolving lines of credit, estimated fair value	1,480,636	1,437,715
Term loans, estimated fair value	437,500	442,500
Debt Instrument, Fair Value Disclosure	$ 988,926	$ 964,907

Fair Value Fair Value Measureme

Fair Value Fair Value Measurements and Disclosures - Financial Instruments Required to be Carried at Fair Value (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Assets, Fair Value Disclosure [Abstract]
Debt Securities, Available-for-Sale	$ 47,149	$ 59,470
Derivative Asset	21,967	22,777
Financial Liabilities Fair Value Disclosure [Abstract]
Derivative Liability	8,446	20,403
Fair Value, Inputs, Level 1 [Member]
Assets, Fair Value Disclosure [Abstract]
Derivative Asset	0	0
Financial Liabilities Fair Value Disclosure [Abstract]
Derivative Liability	0	0
Fair Value, Inputs, Level 2 [Member]
Assets, Fair Value Disclosure [Abstract]
Derivative Asset	21,967	22,777
Financial Liabilities Fair Value Disclosure [Abstract]
Derivative Liability	8,446	20,403
Fair Value, Inputs, Level 3 [Member]
Assets, Fair Value Disclosure [Abstract]
Derivative Asset	0	0
Financial Liabilities Fair Value Disclosure [Abstract]
Derivative Liability	0	0
Government Bonds [Member]
Assets, Fair Value Disclosure [Abstract]
Debt Securities, Available-for-Sale	47,149	59,470
Government Bonds [Member] | Fair Value, Inputs, Level 1 [Member]
Assets, Fair Value Disclosure [Abstract]
Debt Securities, Available-for-Sale	47,149	59,470
Government Bonds [Member] | Fair Value, Inputs, Level 2 [Member]
Assets, Fair Value Disclosure [Abstract]
Debt Securities, Available-for-Sale	0	0
Government Bonds [Member] | Fair Value, Inputs, Level 3 [Member]
Assets, Fair Value Disclosure [Abstract]
Debt Securities, Available-for-Sale	$ 0	$ 0

Accumulated Other Comprehensi_3

Accumulated Other Comprehensive Loss - Reclassifications out of AOCI (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Dec. 31, 2023	Dec. 31, 2022
Accumulated Other Comprehensive Income (Loss) [Line Items]
Income tax expense/(benefit)	$ 2,386	$ (18,683)
Net income	11,753	(53,903)
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest	1,196,318	1,224,709	$ 1,239,376	$ 1,286,750
Other comprehensive (loss)/income before reclassifications, net	(38,857)	(4,602)
Reclassifications	(4,262)	(4,202)
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent	(43,119)	(8,804)
Interest Income (Expense), Nonoperating	(52,278)	(38,283)
Cash Flow Hedges
Accumulated Other Comprehensive Income (Loss) [Line Items]
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest	9,405	22,973	6,597	27,804
Other comprehensive (loss)/income before reclassifications, net	7,070	(629)
Reclassifications	(4,262)	(4,202)
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent	2,808	(4,831)
Currency Translation Adjustments
Accumulated Other Comprehensive Income (Loss) [Line Items]
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest	(382,534)	(379,594)	(336,561)	(375,493)
Other comprehensive (loss)/income before reclassifications, net	(45,973)	(4,101)
Reclassifications	0	0
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent	(45,973)	(4,101)
Debt Securities Available-for-sale
Accumulated Other Comprehensive Income (Loss) [Line Items]
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest	111	(109)	65	(237)
Other comprehensive (loss)/income before reclassifications, net	46	128
Reclassifications	0	0
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent	46	128
Accumulated Other Comprehensive (Loss)
Accumulated Other Comprehensive Income (Loss) [Line Items]
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest	(373,018)	(356,730)	$ (329,899)	$ (347,926)
Reclassification out of Accumulated Other Comprehensive Income | Cash Flow Hedges
Accumulated Other Comprehensive Income (Loss) [Line Items]
Income tax expense/(benefit)	(1,413)	(1,296)
Net income	4,261	4,202
Interest Income (Expense), Nonoperating	$ 5,674	$ 5,498

Accumulated Other Comprehensi_4

Accumulated Other Comprehensive Loss - AOCI by Component (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	$ 1,239,376	$ 1,286,750
Other comprehensive (loss)/income before reclassifications, net	(38,857)	(4,602)
Reclassifications	(4,262)	(4,202)
Other comprehensive loss attributable to PRA Group, Inc.	(43,119)	(8,804)
Ending balance	1,196,318	1,224,709
Deferred taxes for unrealized losses from cash flow hedges	(3,100)	(7,600)
Debt Securities Available-for-sale
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	65	(237)
Other comprehensive (loss)/income before reclassifications, net	46	128
Reclassifications	0	0
Other comprehensive loss attributable to PRA Group, Inc.	46	128
Ending balance	111	(109)
Cash Flow Hedges
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	6,597	27,804
Other comprehensive (loss)/income before reclassifications, net	7,070	(629)
Reclassifications	(4,262)	(4,202)
Other comprehensive loss attributable to PRA Group, Inc.	2,808	(4,831)
Ending balance	9,405	22,973
Currency Translation Adjustments
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	(336,561)	(375,493)
Other comprehensive (loss)/income before reclassifications, net	(45,973)	(4,101)
Reclassifications	0	0
Other comprehensive loss attributable to PRA Group, Inc.	(45,973)	(4,101)
Ending balance	(382,534)	(379,594)
Accumulated Other Comprehensive (Loss)
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	(329,899)	(347,926)
Ending balance	$ (373,018)	$ (356,730)

Earnings Per Share (Details)

Earnings Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Earnings Per Share [Abstract]
Net income	$ 3,475	$ (58,629)
Weighted Average Common Shares, Basic EPS	39,274	39,033
Weighted Average Common Shares, Dilutive effect of nonvested share awards	174	0
Weighted Average Common Shares, Diluted EPS	39,448	39,033
EPS, Basic (in dollars per share)	$ 0.09	$ (1.50)
EPS, Dilutive effect of nonvested share awards (in dollars per share)	0	0
EPS, Diluted (in dollars per share)	$ 0.09	$ (1.50)