PRA GROUP INC Fair Value Disclosure
| Quoted Prices in Active Markets (Level 1) | Other Observable Inputs (Level 2) | Total | |||||||||||||||
| December 31, 2025 | |||||||||||||||||
| Assets | |||||||||||||||||
| Government securities | $ | 64,934 | $ | — | $ | 64,934 | |||||||||||
Derivatives (1) | — | 3,104 | 3,104 | ||||||||||||||
| Liabilities | |||||||||||||||||
Derivatives (1) | — | 12,385 | 12,385 | ||||||||||||||
| December 31, 2024 | |||||||||||||||||
| Assets | |||||||||||||||||
| Government securities | $ | 55,762 | $ | — | $ | 55,762 | |||||||||||
Derivatives (1) | — | 10,723 | 10,723 | ||||||||||||||
| Liabilities | |||||||||||||||||
Derivatives (1) | — | 4,963 | 4,963 | ||||||||||||||
| Estimated Fair Value | |||||||||||||||||||||||
| Quoted Prices in Active Markets (Level 1) | Other Observable Inputs (Level 2) | Unobservable Inputs (Level 3) | Carrying Value | ||||||||||||||||||||
| December 31, 2025 | |||||||||||||||||||||||
| Financial assets | |||||||||||||||||||||||
| Cash and cash equivalents | $ | 104,409 | $ | — | $ | — | $ | 104,409 | |||||||||||||||
Finance receivables, net (1) | — | — | 4,394,028 | 4,688,024 | |||||||||||||||||||
| Financial liabilities | |||||||||||||||||||||||
Interest-bearing deposits (2) | — | 106,148 | — | 106,148 | |||||||||||||||||||
Revolving lines of credit (3) | — | 1,600,530 | — | 1,600,530 | |||||||||||||||||||
Term loan (3) (4) | — | 460,111 | — | 460,111 | |||||||||||||||||||
Senior notes (4) (5) | — | 1,652,451 | — | 1,650,350 | |||||||||||||||||||
| December 31, 2024 | |||||||||||||||||||||||
| Financial assets | |||||||||||||||||||||||
| Cash and cash equivalents | $ | 105,938 | $ | — | $ | — | $ | 105,938 | |||||||||||||||
Finance receivables, net (1) | — | — | 3,523,949 | 4,140,742 | |||||||||||||||||||
| Financial liabilities | |||||||||||||||||||||||
Interest-bearing deposits (2) | — | 163,406 | — | 163,406 | |||||||||||||||||||
Revolving lines of credit (3) | — | 1,569,430 | — | 1,569,430 | |||||||||||||||||||
Term loan (3) (4) | — | 470,111 | — | 470,111 | |||||||||||||||||||
Senior notes (4) (5) | — | 1,301,244 | — | 1,298,000 | |||||||||||||||||||
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | Mar 2, 2026 | Showing above |
| 2024 | Feb 27, 2025 | |
| 2023 | Feb 29, 2024 | |
| 2022 | Feb 28, 2023 | |
| 2021 | Mar 1, 2022 | |
| 2020 | Feb 26, 2021 | |
| 2019 | Mar 2, 2020 | |
| 2018 | Mar 12, 2019 | |
| 2017 | Feb 28, 2018 | |
| 2016 | Mar 1, 2017 | |
| 2015 | Feb 26, 2016 | |
About Fair Value Disclosures
Fair value disclosures classify all assets and liabilities measured at fair value into a three-level hierarchy: Level 1 (quoted market prices), Level 2 (observable inputs like yield curves), and Level 3 (unobservable inputs requiring management estimates). The proportion of Level 3 assets directly reflects how much of the balance sheet depends on internal models rather than market evidence.
Key signals: a growing Level 3 balance relative to total fair-value assets increases valuation uncertainty and earnings volatility risk. Watch for transfers between levels — assets moving from Level 2 to Level 3 often signal deteriorating market liquidity. Unrealized gains and losses on Level 3 positions flow through earnings or other comprehensive income, so large swings deserve scrutiny. For financial institutions, examine the sensitivity disclosures that show how Level 3 valuations change under alternative assumptions. Compare the fair value of debt against its carrying amount to gauge hidden leverage.