Company: ATLCL
Filing Date: 2025-11-10
Form Type: 10-Q
Source: 0001437749-25-033947
Chunk: 76

Company: Atlanticus Holdings Corp
Filing Date: 2025-11-10
Form: 10-Q
Item: Item 8
Chunk 76
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. If we control through direct ownership or exert a controlling interest in the entity, we consolidate it and reflect its operations as noted above.

The following discussion of our managed receivables includes the aforementioned acquisition of Mercury and its portfolio of approximately $3,159.9 million in general purpose credit card receivables. As we acquired the receivables on September 11, 2025, the financial impact of the acquisition on the quarter was limited to fees, billings and expenses subsequent to that date, however the receivables acquired are included in the denominator of the ratios calculated below.

       36

Below is the reconciliation of Loans at fair value to Total managed receivables:

      At or for the Three Months Ended 

     2025

     2024

     2023

      (in Millions) 
      
      Sep. 30 

      Jun. 30 

      Mar. 31 

      Dec. 31 

      Sep. 30 

      Jun. 30 

      Mar. 31 

      Dec. 31 

      Loans at fair value 
      
     $
     6,350.0

     $
     3,004.7

     $
     2,668.5

     $
     2,630.3

     $
     2,511.6

     $
     2,277.4

     $
     2,150.6

     $
     2,173.8

      Fair value mark against receivable (1) 

     250.1

     41.8

     37.8

     94.5

     142.5

     137.7

     167.5

     237.5

      Total managed receivables (2) 
      
     $
     6,600.1

     $
     3,046.5

     $
     2,706.3

     $
     2,724.8

     $
     2,654.1

     $
     2,415.1

     $
     2,318.1

     $
     2,411.3

      Fair value to Total managed receivables ratio (3) 

     96.2
     %

     98.6
     %

     98.6
     %

     96.5
     %

     94.6