PRA (PRAA) 10-Q 8 Nov 24 2024 Q3 Quarterly report Financial data

Cover Page

Cover Page - shares	9 Months Ended
	Sep. 30, 2024	Oct. 31, 2024
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 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		39,426,698
Amendment Flag	false
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q3
Current Fiscal Year End Date	--12-31
Entity Central Index Key	0001185348

Recently Issued Accounting Stan

Recently Issued Accounting Standards	9 Months Ended
	Sep. 30, 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: In November 2023, the Financial Accounting Standards Board ("FASB") issued ASU 2023-07, "Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures" ("ASU 2023-07"), which, among other updates, requires enhanced disclosures about significant segment expenses regularly provided to the chief operating decision maker, as well as the aggregate amount of other segment items included in the reported measure of segment profit or loss. ASU 2023-07 is effective for fiscal years beginning after December 15, 2023, and for interim periods within fiscal years beginning after December 15, 2024, and requires retrospective adoption. Early adoption is permitted. In December 2023, the FASB issued ASU 2023-09, "Income Taxes (Topic 740): Improvements to Income Tax Disclosures" ("ASU 2023-09"), which requires enhanced annual disclosures with respect to the rate reconciliation and income taxes paid information. ASU 2023-09 is effective for fiscal years beginning after December 15, 2024, and may be adopted on a prospective or retrospective basis. Early adoption is permitted. The Company is in the process of evaluating both ASU 2023-07 and ASU 2023-09 to determine the impacts on its disclosures.

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Assets [Abstract]
Cash and Cash Equivalents, at Carrying Value	$ 141,135	$ 112,528
Investments	61,322	72,404
Financing Receivable, after Allowance for Credit Loss, Current	4,064,467	3,656,598
Income Taxes Receivable, Current	33,368	27,713
Deferred Income Tax Assets, Net	88,260	74,694
Operating Lease, Right-of-Use Asset	40,831	45,877
Property, Plant and Equipment, Net	31,835	36,450
Goodwill	423,011	431,564
Other Assets	51,841	67,526
Assets, Total	4,936,070	4,525,354
Liabilities [Abstract]
Accounts Payable	8,176	6,325
Accrued Liabilities	108,926	131,893
Accrued Income Taxes	27,501	17,912
Deferred Tax Liabilities, Net, After Adjustments	19,881	17,051
Operating Lease, Liability	45,222	50,300
Interest-Bearing Deposit Liabilities	128,594	115,589
Debt, Long-Term and Short-Term, Combined Amount	3,296,172	2,914,270
Other Liabilities, Current	19,806	32,638
Liabilities, Total	3,654,278	3,285,978
Equity, Attributable to Parent [Abstract]
Preferred Stock, Value, Issued	0	0
Common Stock, Value, Outstanding	394	392
Additional Paid in Capital, Common Stock	15,415	7,071
Retained Earnings (Accumulated Deficit)	1,541,693	1,489,548
Accumulated Other Comprehensive Income (Loss), Net of Tax	(338,620)	(329,899)
Equity, Attributable to Parent, Total	1,218,882	1,167,112
Equity, Attributable to Noncontrolling Interest	62,910	72,264
Equity, Including Portion Attributable to Noncontrolling Interest, Total	1,281,792	1,239,376
Liabilities and Equity, Total	$ 4,936,070	$ 4,525,354

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - $ / shares	Sep. 30, 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	39,426,000	39,247,000
Common stock, shares outstanding	39,426,000	39,247,000

Consolidated Income Statements

Consolidated Income Statements - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Revenues:
Financing Receivable, Allowance For Credit Losses, Recoveries Reclassified To Income	$ 216,122	$ 189,960	$ 627,468	$ 562,492
Financing Receivable, Allowance For Credit Loss, Changes In Estimated Recoveries	60,614	22,156	185,608	6,380
Financing Receivable, Allowance For Credit Loss, Portfolio Revenue	276,736	212,116	813,076	568,872
Revenue From Contract With Customer And Fee Revenue, Excluding Assessed Tax	4,741	4,314	8,216	12,264
Revenues, Total	281,477	216,430	821,292	581,136
Operating Expenses [Abstract]
Labor and Related Expense	76,106	69,517	223,944	217,708
Legal Fees	14,479	9,839	40,353	28,228
Legal Costs	28,781	20,761	90,746	66,228
Agency Fees	21,020	19,436	61,751	54,491
Outside Fees And Services Expenses	20,452	18,858	63,626	62,064
Communication	10,048	9,881	34,203	30,525
Rent And Occupancy	4,175	4,426	12,455	13,193
Depreciation, Depletion and Amortization, Nonproduction	2,469	3,273	7,826	10,344
Impairment, Long-Lived Asset, Held-for-Use	0	5,037	0	5,037
Other Cost and Expense, Operating	13,969	12,356	40,792	38,355
Operating Expenses, Total	191,499	173,384	575,696	526,173
Operating Income (Loss), Total	89,978	43,046	245,596	54,963
Interest Income (Expense), Nonoperating	(61,062)	(49,473)	(168,693)	(130,778)
Nonoperating Income (Expense) [Abstract]
Interest Income (Expense), Nonoperating	(61,062)	(49,473)	(168,693)	(130,778)
Gain (Loss), Foreign Currency Transaction, before Tax	10	564	138	984
Other Nonoperating Income (Expense)	(676)	(500)	(836)	(1,380)
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest, Total	28,250	(6,363)	76,205	(76,211)
Income Tax Expense (Benefit)	(672)	1,788	10,416	(15,317)
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest, Total	28,922	(8,151)	65,789	(60,894)
Net Income (Loss) Attributable to Noncontrolling Interest	1,768	4,111	13,644	13,801
Net Income (Loss) Attributable to Parent, Total	$ 27,154	$ (12,262)	$ 52,145	$ (74,695)
Earnings Per Share [Abstract]
Basic (in dollars per share)	$ 0.69	$ (0.31)	$ 1.33	$ (1.91)
Diluted (in dollars per share)	$ 0.69	$ (0.31)	$ 1.32	$ (1.91)
Weighted Average Number of Shares Outstanding, Diluted [Abstract]
Basic (shares)	39,421	39,242	39,353	39,155
Diluted (shares)	39,492	39,242	39,495	39,155

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income (Loss) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Statement of Comprehensive Income [Abstract]
Net income	$ 28,922	$ (8,151)	$ 65,789	$ (60,894)
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Gain (Loss) Arising During Period, Net of Tax	52,979	(34,279)	(9,470)	(28,746)
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), after Reclassification and Tax	(8,503)	(7,660)	(6,988)	(6,772)
OCI, Debt Securities, Available-for-Sale, Gain (Loss), after Adjustment and Tax	246	(26)	357	22
Other Comprehensive Income (Loss), Net of Tax, Total	44,722	(41,965)	(16,101)	(35,496)
Comprehensive Income (Loss), Net of Tax, Including Portion Attributable to Noncontrolling Interest, Total	73,644	(50,116)	49,688	(96,390)
Comprehensive Income (Loss), Net of Tax, Attributable to Noncontrolling Interest	3,301	1,436	6,263	17,668
Comprehensive Income (Loss), Net of Tax, Attributable to Parent, Total	$ 70,343	$ (51,552)	$ 43,425	$ (114,058)

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
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]
Cash flow hedges	(6,772)
Debt securities available-for-sale	22
Changes in estimated recoveries	6,380
Ending balance (in shares) at Sep. 30, 2023		39,243,000
Ending balance at Sep. 30, 2023	1,189,987	$ 392	4,157	1,498,330	(387,289)	74,397
Beginning balance (in shares) at Mar. 31, 2023		39,170,000
Beginning balance at Mar. 31, 2023	1,224,709	$ 392	285	1,514,396	(356,730)	66,366
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	1,160			(3,804)		4,964
Currency translation adjustments	7,083				3,091	3,992
Cash flow hedges	5,719				5,719
Debt securities available-for-sale	(80)				(80)
Distributions to noncontrolling interest	1,173					1,173
Vesting of restricted stock (in shares)		72,000
Vesting of restricted stock		$ 0	0
Share-based compensation expense	2,715		2,715
Employee stock relinquished for payment of taxes	(459)		(459)
Ending balance (in shares) at Jun. 30, 2023		39,242,000
Ending balance at Jun. 30, 2023	1,239,674	$ 392	2,541	1,510,592	(348,000)	74,149
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	(8,151)			(12,262)		4,111
Currency translation adjustments	(34,279)				(31,603)	(2,676)
Cash flow hedges	(7,660)				(7,660)
Debt securities available-for-sale	(26)				(26)
Changes in estimated recoveries	22,156
Distributions to noncontrolling interest	1,187					1,187
Proceeds from Noncontrolling Interests	0
Vesting of restricted stock (in shares)		1,000
Vesting of restricted stock		$ 0	0
Share-based compensation expense	1,629		1,629
Employee stock relinquished for payment of taxes	(13)		(13)
Ending balance (in shares) at Sep. 30, 2023		39,243,000
Ending balance at Sep. 30, 2023	$ 1,189,987	$ 392	4,157	1,498,330	(387,289)	74,397
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
Distributions to noncontrolling interest	11,332					11,332
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
Ending balance at Mar. 31, 2024	$ 1,196,318	$ 393	8,928	1,493,023	(373,018)	66,992
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]
Cash flow hedges	(6,988)
Debt securities available-for-sale	357
Changes in estimated recoveries	185,608
Proceeds from Noncontrolling Interests	$ 2,396
Ending balance (in shares) at Sep. 30, 2024	39,426,000	39,426,000
Ending balance at Sep. 30, 2024	$ 1,281,792	$ 394	15,415	1,541,693	(338,620)	62,910
Beginning balance (in shares) at Mar. 31, 2024		39,345,000
Beginning 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]
Net income	25,114			21,516		3,598
Currency translation adjustments	(14,258)				(7,563)	(6,695)
Cash flow hedges	(1,293)				(1,293)
Debt securities available-for-sale	65				65
Distributions to noncontrolling interest	6,080					6,080
Vesting of restricted stock (in shares)		72,000
Vesting of restricted stock		$ 1	(1)
Share-based compensation expense	3,555		3,555
Employee stock relinquished for payment of taxes	(143)		(143)
Ending balance (in shares) at Jun. 30, 2024		39,417,000
Ending balance at Jun. 30, 2024	1,203,278	$ 394	12,339	1,514,539	(381,809)	57,815
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	28,922			27,154		1,768
Currency translation adjustments	52,979				51,446	1,533
Cash flow hedges	(8,503)				(8,503)
Debt securities available-for-sale	246				246
Changes in estimated recoveries	60,614
Distributions to noncontrolling interest	602					602
Proceeds from Noncontrolling Interests	2,396					2,396
Vesting of restricted stock (in shares)		9,000
Vesting of restricted stock		$ 0	0
Share-based compensation expense	3,251		3,251
Employee stock relinquished for payment of taxes	$ (175)		(175)
Ending balance (in shares) at Sep. 30, 2024	39,426,000	39,426,000
Ending balance at Sep. 30, 2024	$ 1,281,792	$ 394	$ 15,415	$ 1,541,693	$ (338,620)	$ 62,910

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
Net Cash Provided by (Used in) Operating Activities [Abstract]
Net income	$ 65,789	$ (60,894)
Adjustments, Noncash Items, to Reconcile Net Income (Loss) to Cash Provided by (Used in) Operating Activities [Abstract]
Share-Based Payment Arrangement, Noncash Expense	10,133	8,143
Depreciation, amortization and impairment	7,826	15,381
Amortization of Debt Issuance Costs and Discounts	8,326	7,045
Financing Receivable, Allowance For Credit Loss, Changes In Estimated Recoveries	(185,608)	(6,380)
Deferred Income Taxes and Tax Credits	(7,277)	(26,276)
Unrealized Gain (Loss), Foreign Currency Transaction, before Tax	16,593	31,783
Other Noncash Income (Expense)	(234)	(567)
Increase (Decrease) in Operating Capital [Abstract]
Increase (Decrease) in Other Operating Assets	(201)	1,111
Accrued expenses, accounts payable and other liabilities	(22,092)	(5,793)
Increase (Decrease) in Income Taxes	2,407	(18,259)
Net Cash Provided by (Used in) Operating Activities, Total	(137,524)	(118,272)
Net Cash Provided by (Used in) Investing Activities [Abstract]
Payments to Acquire Property, Plant, and Equipment	(2,881)	(2,306)
Payments to Acquire Finance Receivables	(975,164)	(875,373)
Proceeds From Recovery Of Negative Financing Receivable Allowance	784,329	695,386
Payments For (Proceeds From) Marketable Securities)	(48,247)	(60,058)
Proceeds from Sale and Maturity of Marketable Securities	58,130	62,762
Net Cash Provided by (Used in) Investing Activities, Total	(183,833)	(179,589)
Net Cash Provided by (Used in) Financing Activities [Abstract]
Proceeds from Long-Term Lines of Credit	958,636	695,651
Repayments of Long-Term Lines of Credit	(693,622)	(389,658)
Repayments of Other Long-Term Debt	(10,000)	(7,500)
Payments On Senior Notes	0	(3,657)
Payments of Financing Costs	(5,926)	(5,323)
Payment, Tax Withholding, Share-Based Payment Arrangement	(1,787)	(6,155)
Payments to Noncontrolling Interests	(18,014)	(2,360)
Proceeds from Noncontrolling Interests	2,396
Net Change Interest-Bearing Deposits, Foreign	13,390	(7,747)
Net Cash Provided by (Used in) Financing Activities, Total	347,073	328,251
Effect of Exchange Rate on Cash, Cash Equivalents, Restricted Cash, and Restricted Cash Equivalents, Continuing Operations	3,024	3,270
Cash, Cash Equivalents, Restricted Cash, and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect, Total	28,740	33,660
Cash, Cash Equivalents, Restricted Cash, and Restricted Cash Equivalents, Beginning Balance	113,692	84,758
Cash, Cash Equivalents, Restricted Cash, and Restricted Cash Equivalents, Ending Balance	142,432	118,418
Supplemental Cash Flow Information [Abstract]
Interest Paid, Excluding Capitalized Interest, Operating Activities	176,537	111,344
Income Taxes Paid	15,460	28,479
Cash, Cash Equivalents, Restricted Cash, and Restricted Cash Equivalents [Abstract]
Cash and Cash Equivalents, at Carrying Value	141,135	105,172
Restricted Cash and Cash Equivalents	1,297	13,246
Cash, cash equivalents and restricted cash	142,432	118,418
2028 Notes
Net Cash Provided by (Used in) Financing Activities [Abstract]
Proceeds from Issuance of Other Long-Term Debt	0	400,000
2025 Notes
Net Cash Provided by (Used in) Financing Activities [Abstract]
Repayments of Convertible Debt	(298,000)	0
Note Due 2023
Net Cash Provided by (Used in) Financing Activities [Abstract]
Repayments of Convertible Debt	0	(345,000)
2030 Notes
Net Cash Provided by (Used in) Financing Activities [Abstract]
Proceeds from Issuance of Other Long-Term Debt	$ 400,000	$ 0

Organization and Business

Organization and Business	9 Months Ended
	Sep. 30, 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 September 30, 2024, its Consolidated Income Statements and Statements of Comprehensive Income for the three and nine months ended September 30, 2024 and 2023, and its Consolidated Statements of Changes in Equity and Statements of Cash Flows for the nine months ended September 30, 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 September 30, 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 and nine months ended September 30, 2024 may not be indicative of future results. Reclassification of prior year presentation: In the Consolidated Statements of Cash Flows, certain prior period amounts have been reclassified for consistency with the current period presentation.

Finance Receivables, net

Finance Receivables, net	9 Months Ended
	Sep. 30, 2024
Receivables [Abstract]
Finance Receivables, net	Finance Receivables, net: Finance receivables, net consisted of the following as of September 30, 2024 and December 31, 2023 (amounts in thousands): September 30, 2024 December 31, 2023 Amortized cost $ — $ — Negative allowance for expected recoveries 4,064,467 3,656,598 Balance at end of period $ 4,064,467 $ 3,656,598 Changes in the negative allowance for expected recoveries by portfolio segment for the three and nine months ended September 30, 2024 and 2023 were as follows (amounts in thousands): Three Months Ended September 30, 2024 2023 Core Insolvency Total Core Insolvency Total Balance at beginning of period $ 3,450,721 $ 369,465 $ 3,820,186 $ 3,086,405 $ 338,143 $ 3,424,548 Initial negative allowance for expected recoveries - portfolio acquisitions (1) 335,120 14,858 349,978 248,181 63,002 311,183 Recoveries applied to negative allowance (2) (222,960) (40,429) (263,389) (189,710) (41,709) (231,419) Changes in expected recoveries (3) 55,992 4,622 60,614 15,894 6,262 22,156 Foreign currency translation adjustment $ 87,496 $ 9,582 $ 97,078 $ (58,878) $ (6,786) $ (65,664) Balance at end of period $ 3,706,369 $ 358,098 $ 4,064,467 $ 3,101,892 $ 358,912 $ 3,460,804 Nine Months Ended September 30, 2024 2023 Core Insolvency Total Core Insolvency Total Balance at beginning of period $ 3,295,214 $ 361,384 $ 3,656,598 $ 2,936,207 $ 358,801 $ 3,295,008 Initial negative allowance for expected recoveries - portfolio acquisitions (1) 880,529 94,635 975,164 763,776 105,391 869,167 Recoveries applied to negative allowance (2) (664,423) (119,906) (784,329) (574,993) (120,392) (695,385) Changes in expected recoveries (3) 171,303 14,305 185,608 (7,436) 13,816 6,380 Foreign currency translation adjustment $ 23,746 $ 7,680 $ 31,426 $ (15,662) $ 1,296 $ (14,366) Balance at end of period $ 3,706,369 $ 358,098 $ 4,064,467 $ 3,101,892 $ 358,912 $ 3,460,804 (1) Initial negative allowance for expected recoveries - portfolio acquisitions Portfolio acquisitions for the three and nine months ended September 30, 2024 and 2023 were as follows (amounts in thousands): Three Months Ended September 30, 2024 2023 Core Insolvency Total Core Insolvency Total Face value $ 3,739,494 $ 75,859 $ 3,815,353 $ 1,992,448 $ 382,363 $ 2,374,811 Noncredit discount (333,122) (7,837) (340,959) (209,131) (23,837) (232,968) Allowance for credit losses at acquisition (3,071,252) (53,164) (3,124,416) (1,535,136) (295,524) (1,830,660) Purchase price $ 335,120 $ 14,858 $ 349,978 $ 248,181 $ 63,002 $ 311,183 Nine Months Ended September 30, 2024 2023 Core Insolvency Total Core Insolvency Total Face value $ 7,850,273 $ 469,492 $ 8,319,765 $ 5,717,674 $ 579,113 $ 6,296,787 Noncredit discount (881,441) (44,465) (925,906) (600,174) (38,621) (638,795) Allowance for credit losses at acquisition (6,088,303) (330,392) (6,418,695) (4,353,724) (435,101) (4,788,825) Purchase price $ 880,529 $ 94,635 $ 975,164 $ 763,776 $ 105,391 $ 869,167 The initial negative allowance recorded on portfolio acquisitions for the three and nine months ended September 30, 2024 and 2023 was as follows (amounts in thousands): Three Months Ended September 30, 2024 2023 Core Insolvency Total Core Insolvency Total Allowance for credit losses at acquisition $ (3,071,252) $ (53,164) $ (3,124,416) $ (1,535,136) $ (295,524) $ (1,830,660) Writeoffs, net 3,071,252 53,164 3,124,416 1,535,136 295,524 1,830,660 Expected recoveries 335,120 14,858 349,978 248,181 63,002 311,183 Initial negative allowance for expected recoveries $ 335,120 $ 14,858 $ 349,978 $ 248,181 $ 63,002 $ 311,183 Nine Months Ended September 30, 2024 2023 Core Insolvency Total Core Insolvency Total Allowance for credit losses at acquisition $ (6,088,303) $ (330,392) $ (6,418,695) $ (4,353,724) $ (435,101) $ (4,788,825) Writeoffs, net 6,088,303 330,392 6,418,695 4,353,724 435,101 4,788,825 Expected recoveries 880,529 94,635 975,164 763,776 105,391 869,167 Initial negative allowance for expected recoveries $ 880,529 $ 94,635 $ 975,164 $ 763,776 $ 105,391 $ 869,167 (2) Recoveries applied to negative allowance Recoveries applied to the negative allowance for the three and nine months ended September 30, 2024 and 2023 were as follows (amounts in thousands): Three Months Ended September 30, 2024 2023 Core Insolvency Total Core Insolvency Total Recoveries (a) $ 426,574 $ 52,937 $ 479,511 $ 369,385 $ 51,994 $ 421,379 Less - amounts reclassified to portfolio income 203,614 12,508 216,122 179,675 10,285 189,960 Recoveries applied to negative allowance $ 222,960 $ 40,429 $ 263,389 $ 189,710 $ 41,709 $ 231,419 Nine Months Ended September 30, 2024 2023 Core Insolvency Total Core Insolvency Total Recoveries (a) $ 1,256,546 $ 155,251 $ 1,411,797 $ 1,106,799 $ 151,078 $ 1,257,877 Less - amounts reclassified to portfolio income 592,123 35,345 627,468 531,806 30,686 562,492 Recoveries applied to negative allowance $ 664,423 $ 119,906 $ 784,329 $ 574,993 $ 120,392 $ 695,385 (a) Recoveries include cash collections, buybacks and other cash-based adjustments. (3) Changes in expected recoveries The Company develops its estimates of expected recoveries by applying discounted cash flow methodologies to its estimated remaining collections and recognizes income over the estimated life of the pool at the constant effective interest rate of the pool. For additional information about these methodologies, refer to Note 1 to the Consolidated Financial Statements in the 2023 Form 10-K. Changes in expected recoveries for the three months ended September 30, 2024 and 2023 were as follows (amounts in thousands): Three Months Ended September 30, 2024 2023 Core Insolvency Total Core Insolvency Total Recoveries received in excess of forecast $ 29,133 $ 5,025 $ 34,158 $ 11,660 $ 6,430 $ 18,090 Changes in expected future recoveries 26,859 (403) 26,456 4,234 (168) 4,066 Changes in expected recoveries $ 55,992 $ 4,622 $ 60,614 $ 15,894 $ 6,262 $ 22,156 Changes in expected recoveries for the three months ended September 30, 2024 were $60.6 million, which included $34.2 million in recoveries received in excess of forecast (cash collections overperformance), due primarily to collections performance in the U.S. and Europe. Changes in expected future recoveries of $26.5 million mainly reflect the Company's assessment of the 2013 to 2020 U.S. Core pools and a number of pools in Europe, which resulted in increases to the expected cash flows considering that recent performance of those pools is expected to continue. Changes in expected recoveries for the three months ended September 30, 2023 were a net positive $22.2 million. This included $18.1 million in recoveries received in excess of forecast (cash collections overperformance) and a $4.1 million positive adjustment to changes in expected future recoveries. The $18.1 million in recoveries received in excess of forecast reflected overperformance in Europe and the Americas. Changes in expected recoveries for the nine months ended September 30, 2024 and 2023 were as follows (amounts in thousands): Nine Months Ended September 30, 2024 2023 Core Insolvency Total Core Insolvency Total Recoveries received in excess of forecast $ 109,881 $ 14,375 $ 124,256 $ 33,483 $ 13,793 $ 47,276 Changes in expected future recoveries 61,422 (70) 61,352 (40,919) 23 (40,896) Changes in expected recoveries $ 171,303 $ 14,305 $ 185,608 $ (7,436) $ 13,816 $ 6,380 Changes in expected recoveries for the nine months ended September 30, 2024 were $185.6 million, which included $124.3 million in recoveries received in excess of forecast, due primarily to collections performance in the U.S. and Europe. Changes in expected future recoveries of $61.4 million mainly reflect the Company's assessment of the 2013 to 2020 U.S. Core pools and a number of pools in Europe, which resulted in increases to the expected cash flows considering that recent performance of those pools is expected to continue.

Investments

Investments	9 Months Ended
	Sep. 30, 2024
Investments, Debt and Equity Securities [Abstract]
Investments	Investments: Investments consisted of the following as of September 30, 2024 and December 31, 2023 (amounts in thousands): September 30, 2024 December 31, 2023 Debt securities Available-for-sale $ 50,605 $ 59,470 Equity securities Private equity funds 1,831 2,451 Equity method investment 8,886 10,483 Total investments $ 61,322 $ 72,404 Debt Securities Government securities: As of September 30, 2024, the Company's available-for-sale debt securities consisted of Swedish treasury securities maturing within one year. As of September 30, 2024 and December 31, 2023, the amortized cost and fair value of these investments were as follows (amounts in thousands): September 30, 2024 Amortized Cost Gross Unrealized Gains Aggregate Fair Value Available-for-sale Government securities $ 50,293 $ 312 $ 50,605 December 31, 2023 Amortized Cost Gross Unrealized Gains 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	9 Months Ended
	Sep. 30, 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 September 30, 2024 , which included considering current market conditions, and determined that goodwill was not more-likely-than-not impaired. Changes in goodwill for the three and nine months ended September 30, 2024 and 2023, were as follows (amounts in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2024 2023 2024 2023 Balance as of beginning of period $ 415,646 $ 414,905 $ 431,564 $ 435,921 Foreign currency translation 7,365 (2,392) (8,553) (23,408) Balance as of end of period $ 423,011 $ 412,513 $ 423,011 $ 412,513

Borrowings

Borrowings	9 Months Ended
	Sep. 30, 2024
Debt Disclosure [Abstract]
Borrowings	Borrowings: Borrowings consisted of the following as of September 30, 2024 and December 31, 2023 (amounts in thousands): September 30, 2024 December 31, 2023 North American revolving credit facility (1) $ 683,890 $ 396,303 United Kingdom revolving credit facility (2) 508,060 502,847 European revolving credit facility (3) 537,172 538,565 North American term loan (4) 432,500 442,500 Credit facility borrowings 2,161,622 1,880,215 Senior Notes due 2025 (the "2025 Notes") — 298,000 Senior Notes due 2028 (the "2028 Notes") 398,000 398,000 Senior Notes due 2029 (the "2029 Notes") 350,000 350,000 Senior Notes due 2030 (the "2030 Notes") 400,000 — Senior notes 1,148,000 1,046,000 Credit facility borrowings and senior notes 3,309,622 2,926,215 Debt discount and issuance costs (13,450) (11,945) Borrowings $ 3,296,172 $ 2,914,270 (1) Revolving credit facility under the Company's North American Revolving Credit and Term Loan (the "North American Credit Agreement"), which included 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 $432.5 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. The North American Credit Agreement was amended and extended on October 28, 2024 (refer to Note 13 for additional details). (2) Revolving credit facility under the Company's United Kingdom ("UK") Credit Agreement (the "UK Credit Agreement"), which consisted of an $800.0 million revolving credit facility (subject to a borrowing base) and an accordion feature for up to $200.0 million in additional commitments, subject to certain conditions, maturing on July 30, 2026. The UK Credit Agreement was amended and extended on October 30, 2024 (refer to Note 13 for additional details). (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. As of September 30, 2024, after an increase in limit during the quarter ended March 31, 2024, interest bearing deposits in AK Nordic AB cannot exceed SEK2.2 billion . The European Credit Agreement was amended on October 28, 2024 (refer to Note 13 for additional details). (4) Term Loan under t he North American Credit Agreement. During the quarter ended June 30, 2024, the Company repaid $395.9 million aggregate principal amount of outstanding borrowings under the North American revolving credit facility with net proceeds obtained from issuance of the 2030 Notes. On September 3, 2024, using funds obtained primarily from the North American revolving credit facility, the Company repaid the 2025 Notes in full by redeeming $298.0 million in aggregate principal amount of the 2025 Notes at par value. For additional details about the North American Credit Agreement, UK Credit Agreement, European Credit Agreement and the Company's senior notes, refer to Note 7 to the Consolidated Financial Statements in the 2023 Form 10-K and description of the 2030 Notes below. Th e Company was in compliance with the covenants contained in its financing arrangements as of September 30, 2024 . 2030 Notes On May 20, 2024, the Company completed the private offering of $400.0 million in aggregate principal amount of its 8.875% Senior Notes due January 31, 2030. The 2030 Notes were issued pursuant to an Indenture dated May 20, 2024 (the "2024 Indenture"), between the Company and Regions Bank, as trustee. The 2024 Indenture contains customary terms and covenants, including certain events of default after which the 2030 Notes may be due and payable immediately. The 2030 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 2030 Notes is payable semi-annually, in arrears, on January 31 and July 31 of each year. Before June 1, 2026, the Company may redeem the 2030 Notes, in whole or in part, at a price equal to 100% of the aggregate principal amount of the 2030 Notes being redeemed, plus the applicable "make whole" premium. On or before June 1, 2026, the Company may redeem up to 40% of the aggregate principal amount of the 2030 Notes at a redemption price of 108.875% plus accrued and unpaid interest 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 2030 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 ad dition, on or after June 1, 2026, the Company may redeem the 2030 Notes, in whole or in part, at a price equal to 104.438% of the aggregate principal amount of the 2030 Notes being redeemed. The applicable redemption price changes if redeemed during the 12 months beginning June 1 of each year to 102.219% for 2027 and then 100% for 2028 and thereafter. In the event of a change of control, each holder will have the right to require the Company to repurchase all or any part of such holder's 2030 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 2030 Notes at 100% of their principal amount plus accrued and unpaid interest.

Derivatives

Derivatives	9 Months Ended
	Sep. 30, 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 derivative instruments, refer to Note 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 September 30, 2024 and December 31, 2023 (amounts in thousands): September 30, 2024 December 31, 2023 Balance Sheet Account Fair Value Balance Sheet Account Fair Value Derivatives designated as hedging instruments: Interest rate contracts Other assets $ 9,856 Other assets $ 21,770 Interest rate contracts Other liabilities 8,956 Other liabilities 11,627 Derivatives not designated as hedging instruments: Foreign currency contracts Other assets 923 Other assets 1,007 Foreign currency contracts Other liabilities 345 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 September 30, 2024 and December 31, 2023, the notional amount of interest rate contracts designated as cash flow hedging instruments w as $827.9 million and $872.3 million, respectively. Derivatives designated as cash flow hedging instruments remained highly effective as of September 30, 2024, and have remaining ter ms from three months to four years . As of September 30, 2024, t he Company estimat es that $5.7 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 and nine months ended September 30, 2024 and 2023 (amounts in thousands): Gain/(loss) recognized in OCI, net of tax Three Months Ended September 30, Nine Months Ended September 30, Hedging instrument 2024 2023 2024 2023 Interest rate contracts $ (4,321) $ (2,712) $ 5,609 $ 7,430 Gain reclassified from OCI into income Three Months Ended September 30, Nine Months Ended September 30, Income statement account 2024 2023 2024 2023 Interest expense, net $ 5,568 $ 6,498 $ 16,774 $ 18,666 During the three months ended September 30, 2024, the Company discontinued the optional expedients previously elected in accordance with ASU 2021-01, "Reference Rate Reform (Topic 848): Overall" ("ASU 2021-01"), and ASU 2022-06, "Reference Rate Reform (Topic 848): Deferral of the Sunset Date of Topic 848" (“ASU 2022-06”). 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 September 30, 2024 and December 31, 2023, the notional amount of foreign currency contracts w as $316.0 million and $368.5 million, respectively. The following table summarizes the effects of derivatives not designated as hedging instruments for the three and nine months ended September 30, 2024 and 2023 (amounts in thousands): Gain/(loss) recognized in income Derivatives not designated as hedging instruments Three Months Ended September 30, Nine Months Ended September 30, Income statement account 2024 2023 2024 2023 Foreign currency contracts Foreign exchange gain/(loss), net $ (8,718) $ 8,137 $ (7,893) $ (7,149) Foreign currency contracts Interest expense, net 200 204 509 1,357

Fair Value Measurements and Dis

Fair Value Measurements and Disclosures	9 Months Ended
	Sep. 30, 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 September 30, 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): September 30, 2024 December 31, 2023 Carrying Estimated Carrying Estimated Financial assets: Cash and cash equivalents $ 141,135 $ 141,135 $ 112,528 $ 112,528 Finance receivables, net 4,064,467 3,512,160 3,656,598 3,167,798 Financial liabilities: Interest-bearing deposits 128,594 128,594 115,589 115,589 Revolving lines of credit 1,729,122 1,729,122 1,437,715 1,437,715 Term Loan (1) 432,500 432,500 442,500 442,500 Senior notes (1) 1,148,000 1,152,894 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 Company's 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 September 30, 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 September 30, 2024 Level 1 Level 2 Level 3 Total Assets: Government securities $ 50,605 $ — $ — $ 50,605 Derivative contracts (recorded in Other assets) — 10,779 — 10,779 Liabilities: Derivative contracts (recorded in Other liabilities) — 9,301 — 9,301 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	9 Months Ended
	Sep. 30, 2024
Equity [Abstract]
Accumulated Other Comprehensive Loss	Accumulated Other Comprehensive Loss: Reclassifications out of Accumulated other comprehensive loss for the three and nine months ended September 30, 2024 and 2023, were as follows (amounts in thousands): Three Months Ended September 30, Nine Months Ended September 30, Gain on cash flow hedges Income Statement account 2024 2023 2024 2023 Interest rate swaps Interest expense, net $ 5,568 $ 6,498 $ 16,774 $ 18,666 Income tax effect of item above (1) Income tax expense/(benefit) (1,387) (1,550) (4,177) (4,464) Total gain on cash flow hedges $ 4,181 $ 4,948 $ 12,597 $ 14,202 (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 and nine months ended September 30, 2024 and 2023, were as follows (amounts in thousands): Three Months Ended September 30, 2024 2023 Debt Securities Cash Currency Accumulated Debt Securities Cash Currency Accumulated Available-for-sale Flow Hedges Translation Adjustments Other Comp. Loss (1) Available-for-sale Flow Hedges Translation Adjustments Other Comp. Loss (1) Balance as of beginning of period $ 176 $ 8,112 $ (390,097) $ (381,809) $ (189) $ 28,692 $ (376,503) $ (348,000) Other comprehensive gain/(loss) before reclassifications 246 (4,322) 51,446 47,370 (26) (2,712) (31,603) (34,341) Reclassifications, net — (4,181) — (4,181) — (4,948) — (4,948) Net current period other comprehensive gain/(loss) 246 (8,503) 51,446 43,189 (26) (7,660) (31,603) (39,289) Balance as of end of period $ 422 $ (391) $ (338,651) $ (338,620) $ (215) $ 21,032 $ (408,106) $ (387,289) (1) Net of deferred taxes for unrealized (gains)/losses from cash flow hedges of $2.8 million and $2.5 million for the three months ended September 30, 2024 and 2023, respectively. Nine Months Ended September 30, 2024 2023 Debt Securities Cash Currency Accumulated Debt Securities Cash Currency Accumulated Available-for-sale Flow Hedges Translation Adjustments Other Comp. Loss (1) Available-for-sale Flow Hedges Translation Adjustments Other Comp. Loss (1) Balance at beginning of period $ 65 $ 6,597 $ (336,561) $ (329,899) $ (237) $ 27,804 $ (375,493) $ (347,926) Other comprehensive gain/(loss) before reclassifications 357 5,609 (2,090) 3,876 22 7,430 (32,613) (25,161) Reclassifications, net — (12,597) — (12,597) — (14,202) — (14,202) Net current period other comprehensive gain/(loss) 357 (6,988) (2,090) (8,721) 22 (6,772) (32,613) (39,363) Balance at end of period $ 422 $ (391) $ (338,651) $ (338,620) $ (215) $ 21,032 $ (408,106) $ (387,289) (1) Net of deferred taxes for unrealized gains from cash flow hedges $0.1 million and $(7.0) million for the nine months ended September 30, 2024 and 2023, respectively.

Earnings Per Share

Earnings Per Share	9 Months Ended
	Sep. 30, 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 tables provide a reconciliation between the computation of basic and diluted EPS f or the three and nine months ended September 30, 2024 and 2023 (amounts in thousands, except per share amounts): Three Months Ended September 30, 2024 2023 Net Income Attributable to PRA Group, Inc. Weighted EPS Net Loss Attributable to PRA Group, Inc. Weighted EPS Basic EPS $ 27,154 39,421 $ 0.69 $ (12,262) 39,242 $ (0.31) Dilutive effect of nonvested share awards 71 — — — Diluted EPS $ 27,154 39,492 $ 0.69 $ (12,262) 39,242 $ (0.31) Nine Months Ended September 30, 2024 2023 Net Income Attributable to PRA Group, Inc. Weighted EPS Net Loss Attributable to PRA Group, Inc. Weighted EPS Basic EPS $ 52,145 39,353 $ 1.33 $ (74,695) 39,155 $ (1.91) Dilutive effect of nonvested share awards 142 (0.01) — — Diluted EPS $ 52,145 39,495 $ 1.32 $ (74,695) 39,155 $ (1.91)

Income Taxes

Income Taxes	9 Months Ended
	Sep. 30, 2024
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes: The Company's effective tax rate for the three and nine months ended September 30, 2024 and 2023 was as follows (amounts in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2024 2023 2024 2023 Income/(loss) before income taxes $ 28,250 $ (6,363) $ 76,205 $ (76,211) Income tax expense/(benefit) (672) $ 1,788 10,416 $ (15,317) Effective tax rate (2.4) % (28.1) % 13.7 % 20.1 % During the three and nine months ended September 30, 2024, the relationship between Income/(loss) before income taxes and Income tax expense/(benefit) was impacted by a $7.7 million reduction in tax expense due to the reversal of a valuation allowance associated with the resolution of a tax matter in Europe.

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Sep. 30, 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 three 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 September 30, 2024, the estimated minimum contractual purchase obligation under 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.

Subsequent Events (Notes)

Subsequent Events (Notes)	9 Months Ended
	Sep. 30, 2024
Subsequent Events [Abstract]
Subsequent Events	Subsequent Events: North American Credit Agreement On October 28, 2024, the Company entered into the Second Amended and Restated Credit Agreement (the "Second A&R North American Credit Agreement") that modified the North American Credit Agreement to, among other things, extend the maturity date from July 30, 2026 to October 28, 2029 and increase the aggregate revolving and Term Loan commitments by $40.1 million from $1.508 billion to $1.548 billion. The U.S. domestic revolving credit facility was reduced from $1.0 billion to $950.0 million and the Canadian revolving credit facility increased from $75.0 million to $125.0 million, resulting in no change to the aggregate revolving commitments. The Term Loan was increased by $40.1 million from $432.5 million to $472.6 million. Modifications to the financial covenants include the following: • Positive income from operations was replaced by a new consolidated fixed charge coverage ratio: (i) consolidated EBITDA to (ii) scheduled principal payment on consolidated funded indebtedness, plus consolidated interest charges (last four fiscal quarters) to be not less than 2.0 to 1.0. • Consolidated senior secured indebtedness was reduced by qualified cash when calculating the consolidated senior secured leverage ratio and the ratio was increased from 2.25 to 1.0 to 2.5 to 1.0. • Consolidated funded indebtedness was reduced by qualified cash when calculating the consolidated total leverage ratio. UK Credit Agreement On October 30, 2024, the Company entered into a Deed of Amendment and Restatement (the “A&R UK Credit Agreement”) that modified the UK Credit Agreement to, among other things, extend the maturity date from July 30, 2026 to October 30, 2029, decrease the revolving credit facility from $800.0 million to $725.0 million and make certain modifications to the financial covenants to more closely conform to the Second A&R North American Credit Agreement. European Credit Agreement On October 28, 2024, the Company entered into an amendment to the European Credit Agreement (the "Letter Amendment") to modify the financial covenants to more closely conform to the Second A&R North American Agreement and the A&R UK Credit Agreement. Modifications to the financial covenants include the following: • Replacing the positive net income covenant with a consolidated fixed charge coverage ratio (such ratio to be not less than 2.0 to 1.0 as of the end of any fiscal quarter). • Increasing the consolidated senior secured leverage ratio from a maximum of 2.25 to 1.0 to a maximum of 2.5 to 1.0.

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Pay vs Performance Disclosure
Net income	$ 27,154	$ (12,262)	$ 52,145	$ (74,695)

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
	Sep. 30, 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)	9 Months Ended
	Sep. 30, 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 September 30, 2024, its Consolidated Income Statements and Statements of Comprehensive Income for the three and nine months ended September 30, 2024 and 2023, and its Consolidated Statements of Changes in Equity and Statements of Cash Flows for the nine months ended September 30, 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: In November 2023, the Financial Accounting Standards Board ("FASB") issued ASU 2023-07, "Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures" ("ASU 2023-07"), which, among other updates, requires enhanced disclosures about significant segment expenses regularly provided to the chief operating decision maker, as well as the aggregate amount of other segment items included in the reported measure of segment profit or loss. ASU 2023-07 is effective for fiscal years beginning after December 15, 2023, and for interim periods within fiscal years beginning after December 15, 2024, and requires retrospective adoption. Early adoption is permitted. In December 2023, the FASB issued ASU 2023-09, "Income Taxes (Topic 740): Improvements to Income Tax Disclosures" ("ASU 2023-09"), which requires enhanced annual disclosures with respect to the rate reconciliation and income taxes paid information. ASU 2023-09 is effective for fiscal years beginning after December 15, 2024, and may be adopted on a prospective or retrospective basis. Early adoption is permitted. The Company is in the process of evaluating both ASU 2023-07 and ASU 2023-09 to determine the impacts on its disclosures.

Finance Receivables, net (Table

Finance Receivables, net (Tables)	9 Months Ended
	Sep. 30, 2024
Receivables [Abstract]
Schedule of Finance Receivables, Net	Finance receivables, net consisted of the following as of September 30, 2024 and December 31, 2023 (amounts in thousands): September 30, 2024 December 31, 2023 Amortized cost $ — $ — Negative allowance for expected recoveries 4,064,467 3,656,598 Balance at end of period $ 4,064,467 $ 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 and nine months ended September 30, 2024 and 2023 were as follows (amounts in thousands): Three Months Ended September 30, 2024 2023 Core Insolvency Total Core Insolvency Total Balance at beginning of period $ 3,450,721 $ 369,465 $ 3,820,186 $ 3,086,405 $ 338,143 $ 3,424,548 Initial negative allowance for expected recoveries - portfolio acquisitions (1) 335,120 14,858 349,978 248,181 63,002 311,183 Recoveries applied to negative allowance (2) (222,960) (40,429) (263,389) (189,710) (41,709) (231,419) Changes in expected recoveries (3) 55,992 4,622 60,614 15,894 6,262 22,156 Foreign currency translation adjustment $ 87,496 $ 9,582 $ 97,078 $ (58,878) $ (6,786) $ (65,664) Balance at end of period $ 3,706,369 $ 358,098 $ 4,064,467 $ 3,101,892 $ 358,912 $ 3,460,804 Nine Months Ended September 30, 2024 2023 Core Insolvency Total Core Insolvency Total Balance at beginning of period $ 3,295,214 $ 361,384 $ 3,656,598 $ 2,936,207 $ 358,801 $ 3,295,008 Initial negative allowance for expected recoveries - portfolio acquisitions (1) 880,529 94,635 975,164 763,776 105,391 869,167 Recoveries applied to negative allowance (2) (664,423) (119,906) (784,329) (574,993) (120,392) (695,385) Changes in expected recoveries (3) 171,303 14,305 185,608 (7,436) 13,816 6,380 Foreign currency translation adjustment $ 23,746 $ 7,680 $ 31,426 $ (15,662) $ 1,296 $ (14,366) Balance at end of period $ 3,706,369 $ 358,098 $ 4,064,467 $ 3,101,892 $ 358,912 $ 3,460,804 (1) Initial negative allowance for expected recoveries - portfolio acquisitions Portfolio acquisitions for the three and nine months ended September 30, 2024 and 2023 were as follows (amounts in thousands): Three Months Ended September 30, 2024 2023 Core Insolvency Total Core Insolvency Total Face value $ 3,739,494 $ 75,859 $ 3,815,353 $ 1,992,448 $ 382,363 $ 2,374,811 Noncredit discount (333,122) (7,837) (340,959) (209,131) (23,837) (232,968) Allowance for credit losses at acquisition (3,071,252) (53,164) (3,124,416) (1,535,136) (295,524) (1,830,660) Purchase price $ 335,120 $ 14,858 $ 349,978 $ 248,181 $ 63,002 $ 311,183 Nine Months Ended September 30, 2024 2023 Core Insolvency Total Core Insolvency Total Face value $ 7,850,273 $ 469,492 $ 8,319,765 $ 5,717,674 $ 579,113 $ 6,296,787 Noncredit discount (881,441) (44,465) (925,906) (600,174) (38,621) (638,795) Allowance for credit losses at acquisition (6,088,303) (330,392) (6,418,695) (4,353,724) (435,101) (4,788,825) Purchase price $ 880,529 $ 94,635 $ 975,164 $ 763,776 $ 105,391 $ 869,167 The initial negative allowance recorded on portfolio acquisitions for the three and nine months ended September 30, 2024 and 2023 was as follows (amounts in thousands): Three Months Ended September 30, 2024 2023 Core Insolvency Total Core Insolvency Total Allowance for credit losses at acquisition $ (3,071,252) $ (53,164) $ (3,124,416) $ (1,535,136) $ (295,524) $ (1,830,660) Writeoffs, net 3,071,252 53,164 3,124,416 1,535,136 295,524 1,830,660 Expected recoveries 335,120 14,858 349,978 248,181 63,002 311,183 Initial negative allowance for expected recoveries $ 335,120 $ 14,858 $ 349,978 $ 248,181 $ 63,002 $ 311,183 Nine Months Ended September 30, 2024 2023 Core Insolvency Total Core Insolvency Total Allowance for credit losses at acquisition $ (6,088,303) $ (330,392) $ (6,418,695) $ (4,353,724) $ (435,101) $ (4,788,825) Writeoffs, net 6,088,303 330,392 6,418,695 4,353,724 435,101 4,788,825 Expected recoveries 880,529 94,635 975,164 763,776 105,391 869,167 Initial negative allowance for expected recoveries $ 880,529 $ 94,635 $ 975,164 $ 763,776 $ 105,391 $ 869,167 (2) Recoveries applied to negative allowance Recoveries applied to the negative allowance for the three and nine months ended September 30, 2024 and 2023 were as follows (amounts in thousands): Three Months Ended September 30, 2024 2023 Core Insolvency Total Core Insolvency Total Recoveries (a) $ 426,574 $ 52,937 $ 479,511 $ 369,385 $ 51,994 $ 421,379 Less - amounts reclassified to portfolio income 203,614 12,508 216,122 179,675 10,285 189,960 Recoveries applied to negative allowance $ 222,960 $ 40,429 $ 263,389 $ 189,710 $ 41,709 $ 231,419 Nine Months Ended September 30, 2024 2023 Core Insolvency Total Core Insolvency Total Recoveries (a) $ 1,256,546 $ 155,251 $ 1,411,797 $ 1,106,799 $ 151,078 $ 1,257,877 Less - amounts reclassified to portfolio income 592,123 35,345 627,468 531,806 30,686 562,492 Recoveries applied to negative allowance $ 664,423 $ 119,906 $ 784,329 $ 574,993 $ 120,392 $ 695,385 (a) Recoveries include cash collections, buybacks and other cash-based adjustments. (3) Changes in expected recoveries The Company develops its estimates of expected recoveries by applying discounted cash flow methodologies to its estimated remaining collections and recognizes income over the estimated life of the pool at the constant effective interest rate of the pool. For additional information about these methodologies, refer to Note 1 to the Consolidated Financial Statements in the 2023 Form 10-K. Changes in expected recoveries for the three months ended September 30, 2024 and 2023 were as follows (amounts in thousands): Three Months Ended September 30, 2024 2023 Core Insolvency Total Core Insolvency Total Recoveries received in excess of forecast $ 29,133 $ 5,025 $ 34,158 $ 11,660 $ 6,430 $ 18,090 Changes in expected future recoveries 26,859 (403) 26,456 4,234 (168) 4,066 Changes in expected recoveries $ 55,992 $ 4,622 $ 60,614 $ 15,894 $ 6,262 $ 22,156 Changes in expected recoveries for the three months ended September 30, 2024 were $60.6 million, which included $34.2 million in recoveries received in excess of forecast (cash collections overperformance), due primarily to collections performance in the U.S. and Europe. Changes in expected future recoveries of $26.5 million mainly reflect the Company's assessment of the 2013 to 2020 U.S. Core pools and a number of pools in Europe, which resulted in increases to the expected cash flows considering that recent performance of those pools is expected to continue. Changes in expected recoveries for the three months ended September 30, 2023 were a net positive $22.2 million. This included $18.1 million in recoveries received in excess of forecast (cash collections overperformance) and a $4.1 million positive adjustment to changes in expected future recoveries. The $18.1 million in recoveries received in excess of forecast reflected overperformance in Europe and the Americas. Changes in expected recoveries for the nine months ended September 30, 2024 and 2023 were as follows (amounts in thousands): Nine Months Ended September 30, 2024 2023 Core Insolvency Total Core Insolvency Total Recoveries received in excess of forecast $ 109,881 $ 14,375 $ 124,256 $ 33,483 $ 13,793 $ 47,276 Changes in expected future recoveries 61,422 (70) 61,352 (40,919) 23 (40,896) Changes in expected recoveries $ 171,303 $ 14,305 $ 185,608 $ (7,436) $ 13,816 $ 6,380

Investments (Tables)

Investments (Tables)	9 Months Ended
	Sep. 30, 2024
Investments, Debt and Equity Securities [Abstract]
Summary of Investments	Investments consisted of the following as of September 30, 2024 and December 31, 2023 (amounts in thousands): September 30, 2024 December 31, 2023 Debt securities Available-for-sale $ 50,605 $ 59,470 Equity securities Private equity funds 1,831 2,451 Equity method investment 8,886 10,483 Total investments $ 61,322 $ 72,404
Schedule of Amortized Cost and Estimated Fair Value in Debt Securities	September 30, 2024 and December 31, 2023, the amortized cost and fair value of these investments were as follows (amounts in thousands): September 30, 2024 Amortized Cost Gross Unrealized Gains Aggregate Fair Value Available-for-sale Government securities $ 50,293 $ 312 $ 50,605 December 31, 2023 Amortized Cost Gross Unrealized Gains Aggregate Fair Value Available-for-sale Government securities $ 59,404 $ 66 $ 59,470

Goodwill (Tables)

Goodwill (Tables)	9 Months Ended
	Sep. 30, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Changes in Goodwill	hanges in goodwill for the three and nine months ended September 30, 2024 and 2023, were as follows (amounts in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2024 2023 2024 2023 Balance as of beginning of period $ 415,646 $ 414,905 $ 431,564 $ 435,921 Foreign currency translation 7,365 (2,392) (8,553) (23,408) Balance as of end of period $ 423,011 $ 412,513 $ 423,011 $ 412,513

Borrowings (Tables)

Borrowings (Tables)	9 Months Ended
	Sep. 30, 2024
Debt Disclosure [Abstract]
Schedule of Debt	Borrowings consisted of the following as of September 30, 2024 and December 31, 2023 (amounts in thousands): September 30, 2024 December 31, 2023 North American revolving credit facility (1) $ 683,890 $ 396,303 United Kingdom revolving credit facility (2) 508,060 502,847 European revolving credit facility (3) 537,172 538,565 North American term loan (4) 432,500 442,500 Credit facility borrowings 2,161,622 1,880,215 Senior Notes due 2025 (the "2025 Notes") — 298,000 Senior Notes due 2028 (the "2028 Notes") 398,000 398,000 Senior Notes due 2029 (the "2029 Notes") 350,000 350,000 Senior Notes due 2030 (the "2030 Notes") 400,000 — Senior notes 1,148,000 1,046,000 Credit facility borrowings and senior notes 3,309,622 2,926,215 Debt discount and issuance costs (13,450) (11,945) Borrowings $ 3,296,172 $ 2,914,270 (1) Revolving credit facility under the Company's North American Revolving Credit and Term Loan (the "North American Credit Agreement"), which included 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 $432.5 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. The North American Credit Agreement was amended and extended on October 28, 2024 (refer to Note 13 for additional details). (2) Revolving credit facility under the Company's United Kingdom ("UK") Credit Agreement (the "UK Credit Agreement"), which consisted of an $800.0 million revolving credit facility (subject to a borrowing base) and an accordion feature for up to $200.0 million in additional commitments, subject to certain conditions, maturing on July 30, 2026. The UK Credit Agreement was amended and extended on October 30, 2024 (refer to Note 13 for additional details). (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. As of September 30, 2024, after an increase in limit during the quarter ended March 31, 2024, interest bearing deposits in AK Nordic AB cannot exceed SEK2.2 billion . The European Credit Agreement was amended on October 28, 2024 (refer to Note 13 for additional details). (4) Term Loan under t he North American Credit Agreement.

Derivatives (Tables)

Derivatives (Tables)	9 Months Ended
	Sep. 30, 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 September 30, 2024 and December 31, 2023 (amounts in thousands): September 30, 2024 December 31, 2023 Balance Sheet Account Fair Value Balance Sheet Account Fair Value Derivatives designated as hedging instruments: Interest rate contracts Other assets $ 9,856 Other assets $ 21,770 Interest rate contracts Other liabilities 8,956 Other liabilities 11,627 Derivatives not designated as hedging instruments: Foreign currency contracts Other assets 923 Other assets 1,007 Foreign currency contracts Other liabilities 345 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 and nine months ended September 30, 2024 and 2023 (amounts in thousands): Gain/(loss) recognized in OCI, net of tax Three Months Ended September 30, Nine Months Ended September 30, Hedging instrument 2024 2023 2024 2023 Interest rate contracts $ (4,321) $ (2,712) $ 5,609 $ 7,430 Gain reclassified from OCI into income Three Months Ended September 30, Nine Months Ended September 30, Income statement account 2024 2023 2024 2023 Interest expense, net $ 5,568 $ 6,498 $ 16,774 $ 18,666
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 and nine months ended September 30, 2024 and 2023 (amounts in thousands): Gain/(loss) recognized in income Derivatives not designated as hedging instruments Three Months Ended September 30, Nine Months Ended September 30, Income statement account 2024 2023 2024 2023 Foreign currency contracts Foreign exchange gain/(loss), net $ (8,718) $ 8,137 $ (7,893) $ (7,149) Foreign currency contracts Interest expense, net 200 204 509 1,357

Fair Value Measurements and D_2

Fair Value Measurements and Disclosures (Tables)	9 Months Ended
	Sep. 30, 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): September 30, 2024 December 31, 2023 Carrying Estimated Carrying Estimated Financial assets: Cash and cash equivalents $ 141,135 $ 141,135 $ 112,528 $ 112,528 Finance receivables, net 4,064,467 3,512,160 3,656,598 3,167,798 Financial liabilities: Interest-bearing deposits 128,594 128,594 115,589 115,589 Revolving lines of credit 1,729,122 1,729,122 1,437,715 1,437,715 Term Loan (1) 432,500 432,500 442,500 442,500 Senior notes (1) 1,148,000 1,152,894 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 Company's 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 September 30, 2024 Level 1 Level 2 Level 3 Total Assets: Government securities $ 50,605 $ — $ — $ 50,605 Derivative contracts (recorded in Other assets) — 10,779 — 10,779 Liabilities: Derivative contracts (recorded in Other liabilities) — 9,301 — 9,301 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)	9 Months Ended
	Sep. 30, 2024
Equity [Abstract]
Reclassification out of Accumulated Other Comprehensive Income	Reclassifications out of Accumulated other comprehensive loss for the three and nine months ended September 30, 2024 and 2023, were as follows (amounts in thousands): Three Months Ended September 30, Nine Months Ended September 30, Gain on cash flow hedges Income Statement account 2024 2023 2024 2023 Interest rate swaps Interest expense, net $ 5,568 $ 6,498 $ 16,774 $ 18,666 Income tax effect of item above (1) Income tax expense/(benefit) (1,387) (1,550) (4,177) (4,464) Total gain on cash flow hedges $ 4,181 $ 4,948 $ 12,597 $ 14,202 (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 and nine months ended September 30, 2024 and 2023, were as follows (amounts in thousands): Three Months Ended September 30, 2024 2023 Debt Securities Cash Currency Accumulated Debt Securities Cash Currency Accumulated Available-for-sale Flow Hedges Translation Adjustments Other Comp. Loss (1) Available-for-sale Flow Hedges Translation Adjustments Other Comp. Loss (1) Balance as of beginning of period $ 176 $ 8,112 $ (390,097) $ (381,809) $ (189) $ 28,692 $ (376,503) $ (348,000) Other comprehensive gain/(loss) before reclassifications 246 (4,322) 51,446 47,370 (26) (2,712) (31,603) (34,341) Reclassifications, net — (4,181) — (4,181) — (4,948) — (4,948) Net current period other comprehensive gain/(loss) 246 (8,503) 51,446 43,189 (26) (7,660) (31,603) (39,289) Balance as of end of period $ 422 $ (391) $ (338,651) $ (338,620) $ (215) $ 21,032 $ (408,106) $ (387,289) (1) Net of deferred taxes for unrealized (gains)/losses from cash flow hedges of $2.8 million and $2.5 million for the three months ended September 30, 2024 and 2023, respectively. Nine Months Ended September 30, 2024 2023 Debt Securities Cash Currency Accumulated Debt Securities Cash Currency Accumulated Available-for-sale Flow Hedges Translation Adjustments Other Comp. Loss (1) Available-for-sale Flow Hedges Translation Adjustments Other Comp. Loss (1) Balance at beginning of period $ 65 $ 6,597 $ (336,561) $ (329,899) $ (237) $ 27,804 $ (375,493) $ (347,926) Other comprehensive gain/(loss) before reclassifications 357 5,609 (2,090) 3,876 22 7,430 (32,613) (25,161) Reclassifications, net — (12,597) — (12,597) — (14,202) — (14,202) Net current period other comprehensive gain/(loss) 357 (6,988) (2,090) (8,721) 22 (6,772) (32,613) (39,363) Balance at end of period $ 422 $ (391) $ (338,651) $ (338,620) $ (215) $ 21,032 $ (408,106) $ (387,289) (1) Net of deferred taxes for unrealized gains from cash flow hedges $0.1 million and $(7.0) million for the nine months ended September 30, 2024 and 2023, respectively.

Earnings Per Share (Tables)

Earnings Per Share (Tables)	9 Months Ended
	Sep. 30, 2024
Earnings Per Share [Abstract]
Reconciliation Between the Computation of Basic and Diluted EPS	The following tables provide a reconciliation between the computation of basic and diluted EPS f or the three and nine months ended September 30, 2024 and 2023 (amounts in thousands, except per share amounts): Three Months Ended September 30, 2024 2023 Net Income Attributable to PRA Group, Inc. Weighted EPS Net Loss Attributable to PRA Group, Inc. Weighted EPS Basic EPS $ 27,154 39,421 $ 0.69 $ (12,262) 39,242 $ (0.31) Dilutive effect of nonvested share awards 71 — — — Diluted EPS $ 27,154 39,492 $ 0.69 $ (12,262) 39,242 $ (0.31) Nine Months Ended September 30, 2024 2023 Net Income Attributable to PRA Group, Inc. Weighted EPS Net Loss Attributable to PRA Group, Inc. Weighted EPS Basic EPS $ 52,145 39,353 $ 1.33 $ (74,695) 39,155 $ (1.91) Dilutive effect of nonvested share awards 142 (0.01) — — Diluted EPS $ 52,145 39,495 $ 1.32 $ (74,695) 39,155 $ (1.91)

Income Taxes (Tables)

Income Taxes (Tables)	9 Months Ended
	Sep. 30, 2024
Income Tax Disclosure [Abstract]
Schedule of income tax expense	The Company's effective tax rate for the three and nine months ended September 30, 2024 and 2023 was as follows (amounts in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2024 2023 2024 2023 Income/(loss) before income taxes $ 28,250 $ (6,363) $ 76,205 $ (76,211) Income tax expense/(benefit) (672) $ 1,788 10,416 $ (15,317) Effective tax rate (2.4) % (28.1) % 13.7 % 20.1 %

Finance Receivables, net (Rollf

Finance Receivables, net (Rollforward) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023	Jun. 30, 2024	Dec. 31, 2023	Jun. 30, 2023	Dec. 31, 2022
Receivables [Abstract]
Amortized cost	$ 0		$ 0			$ 0
Negative allowance for expected recoveries	4,064,467		4,064,467			3,656,598
Balance at end of period	4,064,467	$ 3,460,804	4,064,467	$ 3,460,804	$ 3,820,186	3,656,598	$ 3,424,548	$ 3,295,008
Financing Receivable, Allowance for Credit Losses [Line Items]
Balance at end of period	4,064,467	3,460,804	4,064,467	3,460,804	3,820,186	3,656,598	3,424,548	3,295,008
Initial negative allowance for expected recoveries - acquisitions	349,978	311,183	975,164	869,167
Foreign currency translation adjustment	97,078	(65,664)	31,426	(14,366)
Financing Receivable, Allowance for Credit Loss, Recovery	(263,389)	(231,419)	(784,329)	(695,385)
Changes in estimated recoveries	60,614	22,156	185,608	6,380
Core
Receivables [Abstract]
Balance at end of period	3,706,369	3,101,892	3,706,369	3,101,892	3,450,721	3,295,214	3,086,405	2,936,207
Financing Receivable, Allowance for Credit Losses [Line Items]
Balance at end of period	3,706,369	3,101,892	3,706,369	3,101,892	3,450,721	3,295,214	3,086,405	2,936,207
Initial negative allowance for expected recoveries - acquisitions	335,120	248,181	880,529	763,776
Foreign currency translation adjustment	87,496	(58,878)	23,746	(15,662)
Financing Receivable, Allowance for Credit Loss, Recovery	(222,960)	(189,710)	(664,423)	(574,993)
Changes in estimated recoveries	55,992	15,894	171,303	(7,436)
Insolvency
Receivables [Abstract]
Balance at end of period	358,098	358,912	358,098	358,912	369,465	361,384	338,143	358,801
Financing Receivable, Allowance for Credit Losses [Line Items]
Balance at end of period	358,098	358,912	358,098	358,912	$ 369,465	$ 361,384	$ 338,143	$ 358,801
Initial negative allowance for expected recoveries - acquisitions	14,858	63,002	94,635	105,391
Foreign currency translation adjustment	9,582	(6,786)	7,680	1,296
Financing Receivable, Allowance for Credit Loss, Recovery	(40,429)	(41,709)	(119,906)	(120,392)
Changes in estimated recoveries	$ 4,622	$ 6,262	$ 14,305	$ 13,816

Finance Receivables, net Financ

Finance Receivables, net Finance Receivables, net (Allowance for Expected Recoveries) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023	Jun. 30, 2024	Dec. 31, 2023	Jun. 30, 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	$ 349,978	$ 311,183	975,164	$ 869,167
Foreign currency translation adjustment	97,078	(65,664)	31,426	(14,366)
Recoveries applied to negative allowance	263,389	231,419	784,329	695,385
Changes in estimated recoveries	60,614	22,156	185,608	6,380
Balance at end of period	4,064,467		4,064,467
Balance at end of period	4,064,467	3,460,804	4,064,467	3,460,804	$ 3,820,186	$ 3,656,598	$ 3,424,548	$ 3,295,008
Core
Financing Receivable, Allowance for Credit Losses [Roll Forward]
Initial negative allowance for expected recoveries - acquisitions	335,120	248,181	880,529	763,776
Foreign currency translation adjustment	87,496	(58,878)	23,746	(15,662)
Recoveries applied to negative allowance	222,960	189,710	664,423	574,993
Changes in estimated recoveries	55,992	15,894	171,303	(7,436)
Balance at end of period	3,706,369	3,101,892	3,706,369	3,101,892	3,450,721	3,295,214	3,086,405	2,936,207
Insolvency
Financing Receivable, Allowance for Credit Losses [Roll Forward]
Initial negative allowance for expected recoveries - acquisitions	14,858	63,002	94,635	105,391
Foreign currency translation adjustment	9,582	(6,786)	7,680	1,296
Recoveries applied to negative allowance	40,429	41,709	119,906	120,392
Changes in estimated recoveries	4,622	6,262	14,305	13,816
Balance at end of period	$ 358,098	$ 358,912	$ 358,098	$ 358,912	$ 369,465	$ 361,384	$ 338,143	$ 358,801

Finance Receivables, net (Portf

Finance Receivables, net (Portfolio Acquisitions) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Accounts, Notes, Loans and Financing Receivable [Line Items]
Face value	$ 3,815,353	$ 2,374,811	$ 8,319,765	$ 6,296,787
Noncredit discount	(340,959)	(232,968)	(925,906)	(638,795)
Allowance for credit losses at acquisition	(3,124,416)	(1,830,660)	(6,418,695)	(4,788,825)
Purchase price	349,978	311,183	975,164	869,167
Core
Accounts, Notes, Loans and Financing Receivable [Line Items]
Face value	3,739,494	1,992,448	7,850,273	5,717,674
Noncredit discount	(333,122)	(209,131)	(881,441)	(600,174)
Allowance for credit losses at acquisition	(3,071,252)	(1,535,136)	(6,088,303)	(4,353,724)
Purchase price	335,120	248,181	880,529	763,776
Insolvency
Accounts, Notes, Loans and Financing Receivable [Line Items]
Face value	75,859	382,363	469,492	579,113
Noncredit discount	(7,837)	(23,837)	(44,465)	(38,621)
Allowance for credit losses at acquisition	(53,164)	(295,524)	(330,392)	(435,101)
Purchase price	$ 14,858	$ 63,002	$ 94,635	$ 105,391

Finance Receivables, net Fina_2

Finance Receivables, net Finance Receivables, net (Initial Negative Allowance for Recoveries) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023	Jun. 30, 2024	Dec. 31, 2023	Jun. 30, 2023	Dec. 31, 2022
Financing Receivable, Allowance for Credit Losses [Line Items]
Allowance for credit losses at acquisition	$ (3,124,416)	$ (1,830,660)	$ (6,418,695)	$ (4,788,825)
Writeoffs, net	3,124,416	1,830,660	6,418,695	4,788,825
Expected recoveries	349,978	311,183	975,164	869,167
Purchase price	349,978	311,183	975,164	869,167
Amortized cost	0		0			$ 0
Negative allowance for expected recoveries	4,064,467		4,064,467			3,656,598
Balance at end of period	4,064,467	3,460,804	4,064,467	3,460,804	$ 3,820,186	3,656,598	$ 3,424,548	$ 3,295,008
Core
Financing Receivable, Allowance for Credit Losses [Line Items]
Allowance for credit losses at acquisition	(3,071,252)	(1,535,136)	(6,088,303)	(4,353,724)
Writeoffs, net	3,071,252	1,535,136	6,088,303	4,353,724
Expected recoveries	335,120	248,181	880,529	763,776
Purchase price	335,120	248,181	880,529	763,776
Balance at end of period	3,706,369	3,101,892	3,706,369	3,101,892	3,450,721	3,295,214	3,086,405	2,936,207
Insolvency
Financing Receivable, Allowance for Credit Losses [Line Items]
Allowance for credit losses at acquisition	(53,164)	(295,524)	(330,392)	(435,101)
Writeoffs, net	53,164	295,524	330,392	435,101
Expected recoveries	14,858	63,002	94,635	105,391
Purchase price	14,858	63,002	94,635	105,391
Balance at end of period	$ 358,098	$ 358,912	$ 358,098	$ 358,912	$ 369,465	$ 361,384	$ 338,143	$ 358,801

Finance Receivables, net Fina_3

Finance Receivables, net Finance Receivables, net (Recoveries) (Details) - USD ($) $ in Thousands	3 Months Ended						9 Months Ended
	Sep. 30, 2024	Jun. 30, 2024	Mar. 31, 2024	Sep. 30, 2023	Jun. 30, 2023	Mar. 31, 2023	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023	Dec. 31, 2022
Financing Receivable, Allowance for Credit Losses [Line Items]
Recoveries	$ 479,511			$ 421,379			$ 1,411,797	$ 1,257,877
Less - amounts reclassified to portfolio income	216,122			189,960			627,468	562,492
Recoveries applied to negative allowance	263,389			231,419			784,329	695,385
Amortized cost	0						0		$ 0
Balance at end of period	4,064,467	$ 3,820,186		3,460,804	$ 3,424,548		4,064,467	3,460,804	3,656,598	$ 3,295,008
Initial negative allowance for expected recoveries - acquisitions	349,978			311,183			975,164	869,167
Foreign currency translation adjustment	97,078			(65,664)			31,426	(14,366)
Changes in estimated recoveries	60,614			22,156			185,608	6,380
Debt Securities, Available-for-Sale	50,605						50,605		59,470
Equity Method Investments	8,886						8,886		10,483
Additional Paid-in Capital
Financing Receivable, Allowance for Credit Losses [Line Items]
Vesting of restricted stock	0	(1)	$ (1)	0	0	$ (2)
Common Stock
Financing Receivable, Allowance for Credit Losses [Line Items]
Vesting of restricted stock	0	1	$ 1	0	0	$ 2
Government Bonds and Fixed Income Funds [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Debt Securities, Available-for-Sale, Amortized Cost	50,293						50,293		59,404
Debt Securities, Available-for-Sale, Accumulated Gross Unrealized Gain, before Tax	312						312		66
Debt Securities, Available-for-Sale	50,605						50,605		59,470
Core
Financing Receivable, Allowance for Credit Losses [Line Items]
Recoveries	426,574			369,385			1,256,546	1,106,799
Less - amounts reclassified to portfolio income	203,614			179,675			592,123	531,806
Recoveries applied to negative allowance	222,960			189,710			664,423	574,993
Balance at end of period	3,706,369	3,450,721		3,101,892	3,086,405		3,706,369	3,101,892	3,295,214	2,936,207
Initial negative allowance for expected recoveries - acquisitions	335,120			248,181			880,529	763,776
Foreign currency translation adjustment	87,496			(58,878)			23,746	(15,662)
Changes in estimated recoveries	55,992			15,894			171,303	(7,436)
Insolvency
Financing Receivable, Allowance for Credit Losses [Line Items]
Recoveries	52,937			51,994			155,251	151,078
Less - amounts reclassified to portfolio income	12,508			10,285			35,345	30,686
Recoveries applied to negative allowance	40,429			41,709			119,906	120,392
Balance at end of period	358,098	$ 369,465		358,912	$ 338,143		358,098	358,912	$ 361,384	$ 358,801
Initial negative allowance for expected recoveries - acquisitions	14,858			63,002			94,635	105,391
Foreign currency translation adjustment	9,582			(6,786)			7,680	1,296
Changes in estimated recoveries	$ 4,622			$ 6,262			$ 14,305	$ 13,816

Finance Receivables, net (Chang

Finance Receivables, net (Changes in Estimated Future Recoveries) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Financing Receivable, Allowance for Credit Losses [Line Items]
Changes in expected future recoveries	$ 26,456	$ 4,066	$ 61,352	$ (40,896)
Recoveries received in excess of forecast	34,158	18,090	124,256	47,276
Financing Receivable, Allowance For Credit Loss, Changes In Estimated Recoveries	60,614	22,156	185,608	6,380
Recoveries	479,511	421,379	1,411,797	1,257,877
Less - amounts reclassified to portfolio income	216,122	189,960	627,468	562,492
Recoveries applied to negative allowance	263,389	231,419	784,329	695,385
Core
Financing Receivable, Allowance for Credit Losses [Line Items]
Changes in expected future recoveries	26,859	4,234	61,422	(40,919)
Recoveries received in excess of forecast	29,133	11,660	109,881	33,483
Financing Receivable, Allowance For Credit Loss, Changes In Estimated Recoveries	55,992	15,894	171,303	(7,436)
Recoveries	426,574	369,385	1,256,546	1,106,799
Less - amounts reclassified to portfolio income	203,614	179,675	592,123	531,806
Recoveries applied to negative allowance	222,960	189,710	664,423	574,993
Insolvency
Financing Receivable, Allowance for Credit Losses [Line Items]
Changes in expected future recoveries	(403)	(168)	(70)	23
Recoveries received in excess of forecast	5,025	6,430	14,375	13,793
Financing Receivable, Allowance For Credit Loss, Changes In Estimated Recoveries	4,622	6,262	14,305	13,816
Recoveries	52,937	51,994	155,251	151,078
Less - amounts reclassified to portfolio income	12,508	10,285	35,345	30,686
Recoveries applied to negative allowance	$ 40,429	$ 41,709	$ 119,906	$ 120,392

Finance Receivables, net (Narra

Finance Receivables, net (Narrative) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Receivables [Abstract]
Changes in estimated recoveries	$ 60,614	$ 22,156	$ 185,608	$ 6,380
Recoveries received in excess of forecast	34,158	18,090	124,256	47,276
Changes in expected future recoveries	$ 26,456	$ 4,066	$ 61,352	$ (40,896)

Investments - Summary of Invest

Investments - Summary of Investments (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Debt Securities [Abstract]
Debt Securities, Available-for-Sale	$ 50,605	$ 59,470
Equity Securities [Abstract]
Equity Method Investments	8,886	10,483
Investments	61,322	72,404
Private equity funds
Equity Securities [Abstract]
Equity Securities, FV-NI, Current	$ 1,831	$ 2,451

Investments - Amortized Costs (

Investments - Amortized Costs (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Available-for-sale
Debt Securities, Available-for-Sale	$ 50,605	$ 59,470
Government Bonds and Fixed Income Funds
Available-for-sale
Debt Securities, Available-for-Sale, Amortized Cost	50,293	59,404
Debt Securities, Available-for-Sale, Accumulated Gross Unrealized Gain, before Tax	312	66
Debt Securities, Available-for-Sale	$ 50,605	$ 59,470

Investments - Narrative (Detail

Investments - Narrative (Details)	Sep. 30, 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		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Goodwill [Roll Forward]
Goodwill, Beginning Balance	$ 415,646	$ 414,905	$ 431,564	$ 435,921
Goodwill, Foreign Currency Translation Gain (Loss)	7,365	(2,392)	(8,553)	(23,408)
Goodwill, Ending Balance	$ 423,011	$ 412,513	$ 423,011	$ 412,513

Borrowings - Components of Borr

Borrowings - Components of Borrowings (Details) € in Millions, kr in Billions			3 Months Ended
	Sep. 03, 2024 USD ($)	May 20, 2024 USD ($)	Sep. 30, 2024 USD ($)	Sep. 30, 2024 EUR (€)	Sep. 30, 2024 SEK (kr)	Dec. 31, 2023 USD ($)
Debt Instrument [Line Items]
Debt outstanding			$ 3,309,622,000			$ 2,926,215,000
Debt Instrument, Unamortized Discount (Premium) and Debt Issuance Costs, Net			(13,450,000)			(11,945,000)
Debt, Long-Term and Short-Term, Combined Amount			3,296,172,000			2,914,270,000
North American Credit Agreement
Debt Instrument [Line Items]
Line of Credit Facility, Maximum Borrowing Capacity			1,508,000,000
Repayments of Lines of Credit			395,900,000
Loans Payable | North American Credit Agreement
Debt Instrument [Line Items]
Debt outstanding			432,500,000			442,500,000
Line of Credit and Loans Payable
Debt Instrument [Line Items]
Debt outstanding			2,161,622,000			1,880,215,000
Senior Notes
Debt Instrument [Line Items]
Principal amount			1,148,000,000			1,046,000,000
Repayments of Long-Term Debt	$ 298,000,000
Senior Notes | 2029 Notes
Debt Instrument [Line Items]
Principal amount			350,000,000			350,000,000
Senior Notes | 2028 Notes
Debt Instrument [Line Items]
Principal amount			398,000,000			398,000,000
Senior Notes | 2025 Notes
Debt Instrument [Line Items]
Principal amount			0			298,000,000
Senior Notes | 2030 Notes
Debt Instrument [Line Items]
Principal amount		$ 400,000,000	400,000,000			0
Stated percentage		8.875%
Senior Notes | 2030 Notes | Change Of Control Event
Debt Instrument [Line Items]
Redemption price of original principal amount		101%
Senior Notes | 2030 Notes | Certain Asset Sale Events
Debt Instrument [Line Items]
Redemption price of original principal amount		100%
Senior Notes | 2030 Notes | On or Before June 1, 2026
Debt Instrument [Line Items]
Redemption price, percentage of aggregate principal amount		100%
Debt Instrument, Redemption Price, Percentage of Principal Amount Redeemed - Offering of Common Stock		40%
Redemption price of original principal amount		108.875%
Redemption price, minimum percentage of principal amount outstanding		60%
Senior Notes | 2030 Notes | On or After June 1, 2026
Debt Instrument [Line Items]
Redemption price of original principal amount		104.438%
Senior Notes | 2030 Notes | June 1, 2027 to May 31, 2028
Debt Instrument [Line Items]
Redemption price of original principal amount		102.219%
Senior Notes | 2030 Notes | June 1, 2028 and Thereafter
Debt Instrument [Line Items]
Redemption price of original principal amount		100%
Americas Revolving Credit Facility | Line of Credit
Debt Instrument [Line Items]
Debt outstanding			683,890,000			396,303,000
UK revolving credit facility | Line of Credit | UK Credit Agreement
Debt Instrument [Line Items]
Debt outstanding			508,060,000			502,847,000
Long term line of debt, accordion feature			200,000,000
Line of Credit Facility, Maximum Borrowing Capacity			725,000,000
European revolving credit facility | European Revolving Credit Facility | Maximum
Debt Instrument [Line Items]
Debt Instrument, covenant, interest bearing deposits, maximum | kr					kr 2.2
European revolving credit facility | Line of Credit | European Revolving Credit Facility
Debt Instrument [Line Items]
Debt outstanding			537,172,000			$ 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	Sep. 30, 2024	Dec. 31, 2023
Derivatives, Fair Value [Line Items]
Derivative Liability	$ 9,301	$ 20,403
Derivative Asset, Statement of Financial Position [Extensible Enumeration]	Other Assets	Other Assets
Derivative Asset	$ 10,779	$ 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	$ 8,956	$ 11,627
Derivative Asset	9,856	21,770
Foreign currency contracts | Not Designated as Hedging Instrument
Derivatives, Fair Value [Line Items]
Derivative Liability	345	8,776
Derivative Asset	$ 923	$ 1,007

Derivatives - Narrative (Detail

Derivatives - Narrative (Details) - USD ($) $ in Millions	3 Months Ended
	Sep. 30, 2024	Dec. 31, 2023
Designated as Hedging Instrument | Interest expense, net
Derivative [Line Items]
Derivative, Notional Amount1	$ 827.9	$ 872.3
Net derivative gain (loss) included in OCI to be reclassified next 12 months	5.7
Not Designated as Hedging Instrument | Foreign currency contracts
Derivative [Line Items]
Derivative, Notional Amount1	$ 316	$ 368.5
Maximum
Derivative [Line Items]
Derivative, Term of Contract	4 years
Minimum
Derivative [Line Items]
Derivative, Term of Contract	3 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		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Derivative Instruments, Gain (Loss) [Line Items]
Gain/(loss) recognized in OCI, net of tax	$ (4,321)	$ (2,712)	$ 5,609	$ 7,430
Interest expense, net
Derivative Instruments, Gain (Loss) [Line Items]
Gain reclassified from OCI into income	$ 5,568	$ 6,498	$ 16,774	$ 18,666

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		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Foreign Currency Gain (Loss) [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Gain/(loss) recognized in income	$ (8,718)	$ 8,137	$ (7,893)	$ (7,149)
Interest expense, net
Derivative Instruments, Gain (Loss) [Line Items]
Gain/(loss) recognized in income	$ 200	$ 204	$ 509	$ 1,357

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	Sep. 30, 2024	Dec. 31, 2023	Sep. 30, 2023
Financial Instruments, Financial Assets, Balance Sheet Groupings [Abstract]
Cash and cash equivalents, carrying amount	$ 141,135	$ 112,528	$ 105,172
Financing Receivable, after Allowance for Credit Loss, Current	4,064,467	3,656,598
Financial Instruments, Financial Liabilities, Balance Sheet Groupings [Abstract]
Interest-bearing deposits, carrying value	128,594	115,589
Restricted Cash and Cash Equivalents	1,297		$ 13,246
Reported Value Measurement [Member]
Financial Instruments, Financial Assets, Balance Sheet Groupings [Abstract]
Cash and cash equivalents, carrying amount	141,135	112,528
Financing Receivable, after Allowance for Credit Loss, Current	4,064,467	3,656,598
Financial Instruments, Financial Liabilities, Balance Sheet Groupings [Abstract]
Interest-bearing deposits, carrying value	128,594	115,589
Outstanding borrowings under credit facility	1,729,122	1,437,715
Term loans, carrying amount	432,500	442,500
Senior Notes, carrying amount	1,148,000	1,046,000
Estimate of Fair Value Measurement [Member]
Financial Instruments, Financial Assets, Balance Sheet Groupings [Abstract]
Cash and cash equivalents, estimated fair value	141,135	112,528
Finance receivables, net, estimated fair value	3,512,160	3,167,798
Financial Instruments, Financial Liabilities, Balance Sheet Groupings [Abstract]
Interest-bearing deposits, fair value	128,594	115,589
Revolving lines of credit, estimated fair value	1,729,122	1,437,715
Term loans, estimated fair value	432,500	442,500
Debt Instrument, Fair Value Disclosure	$ 1,152,894	$ 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	Sep. 30, 2024	Dec. 31, 2023
Assets, Fair Value Disclosure [Abstract]
Debt Securities, Available-for-Sale	$ 50,605	$ 59,470
Derivative Asset	10,779	22,777
Financial Liabilities Fair Value Disclosure [Abstract]
Derivative Liability	9,301	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	10,779	22,777
Financial Liabilities Fair Value Disclosure [Abstract]
Derivative Liability	9,301	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	50,605	59,470
Government Bonds [Member] | Fair Value, Inputs, Level 1 [Member]
Assets, Fair Value Disclosure [Abstract]
Debt Securities, Available-for-Sale	50,605	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		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023	Jun. 30, 2024	Mar. 31, 2024	Dec. 31, 2023	Jun. 30, 2023	Mar. 31, 2023	Dec. 31, 2022
Accumulated Other Comprehensive Income (Loss) [Line Items]
Income tax expense/(benefit)	$ (672)	$ 1,788	$ 10,416	$ (15,317)
Net income	28,922	(8,151)	65,789	(60,894)
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest	1,281,792	1,189,987	1,281,792	1,189,987	$ 1,203,278	$ 1,196,318	$ 1,239,376	$ 1,239,674	$ 1,224,709	$ 1,286,750
Other comprehensive (loss)/income before reclassifications, net	47,370	(34,341)	3,876	(25,161)
Reclassifications	(4,181)	(4,948)	(12,597)	(14,202)
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent	43,189	(39,289)	(8,721)	(39,363)
Interest Income (Expense), Nonoperating	(61,062)	(49,473)	(168,693)	(130,778)
Cash Flow Hedges
Accumulated Other Comprehensive Income (Loss) [Line Items]
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest	(391)	21,032	(391)	21,032	8,112		6,597	28,692		27,804
Other comprehensive (loss)/income before reclassifications, net	(4,322)	(2,712)	5,609	7,430
Reclassifications	(4,181)	(4,948)	(12,597)	(14,202)
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent	(8,503)	(7,660)	(6,988)	(6,772)
Currency Translation Adjustments
Accumulated Other Comprehensive Income (Loss) [Line Items]
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest	(338,651)	(408,106)	(338,651)	(408,106)	(390,097)		(336,561)	(376,503)		(375,493)
Other comprehensive (loss)/income before reclassifications, net	51,446	(31,603)	(2,090)	(32,613)
Reclassifications	0	0	0	0
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent	51,446	(31,603)	(2,090)	(32,613)
Debt Securities Available-for-sale
Accumulated Other Comprehensive Income (Loss) [Line Items]
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest	422	(215)	422	(215)	176		65	(189)		(237)
Other comprehensive (loss)/income before reclassifications, net	246	(26)	357	22
Reclassifications	0	0	0	0
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent	246	(26)	357	22
Accumulated Other Comprehensive (Loss)
Accumulated Other Comprehensive Income (Loss) [Line Items]
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest	(338,620)	(387,289)	(338,620)	(387,289)	$ (381,809)	$ (373,018)	$ (329,899)	$ (348,000)	$ (356,730)	$ (347,926)
Reclassification out of Accumulated Other Comprehensive Income | Cash Flow Hedges
Accumulated Other Comprehensive Income (Loss) [Line Items]
Income tax expense/(benefit)	(1,387)	(1,550)	(4,177)	(4,464)
Net income	4,181	4,948	12,597	14,202
Interest Income (Expense), Nonoperating	$ 5,568	$ 6,498	$ 16,774	$ 18,666

Accumulated Other Comprehensi_4

Accumulated Other Comprehensive Loss - AOCI by Component (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	$ 1,203,278	$ 1,239,674	$ 1,239,376	$ 1,286,750
Other comprehensive (loss)/income before reclassifications, net	47,370	(34,341)	3,876	(25,161)
Reclassifications	(4,181)	(4,948)	(12,597)	(14,202)
Other comprehensive loss attributable to PRA Group, Inc.	43,189	(39,289)	(8,721)	(39,363)
Ending balance	1,281,792	1,189,987	1,281,792	1,189,987
Deferred taxes for unrealized losses from cash flow hedges	2,800	2,500	100	(7,000)
Debt Securities Available-for-sale
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	176	(189)	65	(237)
Other comprehensive (loss)/income before reclassifications, net	246	(26)	357	22
Reclassifications	0	0	0	0
Other comprehensive loss attributable to PRA Group, Inc.	246	(26)	357	22
Ending balance	422	(215)	422	(215)
Cash Flow Hedges
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	8,112	28,692	6,597	27,804
Other comprehensive (loss)/income before reclassifications, net	(4,322)	(2,712)	5,609	7,430
Reclassifications	(4,181)	(4,948)	(12,597)	(14,202)
Other comprehensive loss attributable to PRA Group, Inc.	(8,503)	(7,660)	(6,988)	(6,772)
Ending balance	(391)	21,032	(391)	21,032
Currency Translation Adjustments
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	(390,097)	(376,503)	(336,561)	(375,493)
Other comprehensive (loss)/income before reclassifications, net	51,446	(31,603)	(2,090)	(32,613)
Reclassifications	0	0	0	0
Other comprehensive loss attributable to PRA Group, Inc.	51,446	(31,603)	(2,090)	(32,613)
Ending balance	(338,651)	(408,106)	(338,651)	(408,106)
Accumulated Other Comprehensive (Loss)
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	(381,809)	(348,000)	(329,899)	(347,926)
Ending balance	$ (338,620)	$ (387,289)	$ (338,620)	$ (387,289)

Earnings Per Share (Details)

Earnings Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Earnings Per Share [Abstract]
Net income	$ 27,154	$ (12,262)	$ 52,145	$ (74,695)
Weighted Average Common Shares, Basic EPS	39,421	39,242	39,353	39,155
Weighted Average Common Shares, Dilutive effect of nonvested share awards	71	0	142	0
Weighted Average Common Shares, Diluted EPS	39,492	39,242	39,495	39,155
EPS, Basic (in dollars per share)	$ 0.69	$ (0.31)	$ 1.33	$ (1.91)
EPS, Dilutive effect of nonvested share awards (in dollars per share)	0	0	(0.01)	0
EPS, Diluted (in dollars per share)	$ 0.69	$ (0.31)	$ 1.32	$ (1.91)

Income Taxes - Additional Discl

Income Taxes - Additional Disclosures (Details) - USD ($) $ in Millions	3 Months Ended	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2024
Income Tax Disclosure [Abstract]
Tax matter valuation allowance reversal	$ 7.7	$ 7.7

Income Taxes (Details) - Schedu

Income Taxes (Details) - Schedule of income tax expense - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Income Tax Disclosure [Abstract]
Income/(loss) before income taxes	$ 28,250	$ (6,363)	$ 76,205	$ (76,211)
Income tax expense/(benefit)	$ (672)	$ 1,788	$ 10,416	$ (15,317)
Effective tax rate	(2.40%)	(28.10%)	13.70%	20.10%

Subsequent Events (Details)

Subsequent Events (Details) $ in Thousands, € in Millions	Oct. 30, 2024 USD ($)	Oct. 28, 2024 USD ($)	Sep. 30, 2024 USD ($)	Sep. 30, 2024 EUR (€)	Dec. 31, 2023 USD ($)
Subsequent Event [Line Items]
Debt outstanding			$ 3,309,622		$ 2,926,215
North American Credit Agreement
Subsequent Event [Line Items]
Line of Credit Facility, Maximum Borrowing Capacity			$ 1,508,000
Consolidated senior secured leverage ratio			2.25	2.25
North American Credit Agreement | Loans Payable
Subsequent Event [Line Items]
Debt outstanding			$ 432,500		442,500
Revolving Credit Facility | North American Credit Agreement
Subsequent Event [Line Items]
Line of Credit Facility, Maximum Borrowing Capacity			1,000,000
Canadian Revolving Credit Facility | North American Credit Agreement
Subsequent Event [Line Items]
Line of Credit Facility, Maximum Borrowing Capacity			75,000
UK revolving credit facility | UK Credit Agreement | Line of Credit
Subsequent Event [Line Items]
Line of Credit Facility, Maximum Borrowing Capacity			725,000
Debt outstanding			$ 508,060		502,847
European revolving credit facility | European Revolving Credit Facility
Subsequent Event [Line Items]
Consolidated senior secured leverage ratio			2.25	2.25
European revolving credit facility | European Revolving Credit Facility | Line of Credit
Subsequent Event [Line Items]
Line of Credit Facility, Maximum Borrowing Capacity | €				€ 730
Debt outstanding			$ 537,172		$ 538,565
Subsequent Event | North American Credit Agreement
Subsequent Event [Line Items]
Line of Credit Facility, Maximum Borrowing Capacity		$ 1,548,000
Credit Agreement, Consolidated EBITDA to Principal Payment Plus Interest Ratio		2
Consolidated senior secured leverage ratio		2.5
Subsequent Event | North American Credit Agreement | Loans Payable
Subsequent Event [Line Items]
Line of Credit Facility, Increase In Borrowing Capacity		$ 40,100
Debt outstanding		472,600
Subsequent Event | Revolving Credit Facility | North American Credit Agreement
Subsequent Event [Line Items]
Line of Credit Facility, Maximum Borrowing Capacity		950,000
Subsequent Event | Canadian Revolving Credit Facility | North American Credit Agreement
Subsequent Event [Line Items]
Line of Credit Facility, Maximum Borrowing Capacity		$ 125,000
Subsequent Event | UK revolving credit facility | UK Credit Agreement | Line of Credit
Subsequent Event [Line Items]
Line of Credit Facility, Maximum Borrowing Capacity	$ 800,000
Subsequent Event | European revolving credit facility | European Revolving Credit Facility
Subsequent Event [Line Items]
Consolidated senior secured leverage ratio		2.5
Credit Agreement, Consolidated Fixed Charge Coverage Ratio		2