Company: ATLCL
Filing Date: 2025-11-10
Form Type: 10-Q
Source: 0001437749-25-033947
Chunk: 185

Company: Atlanticus Holdings Corp
Filing Date: 2025-11-10
Form: 10-Q
Item: Item 1
Chunk 185
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815. We have recorded the derivative at fair value within Accounts payable and accrued expenses on the accompanying condensed consolidated balance sheets, calculated using internally-developed estimates. These estimates on performance of the acquired portfolio include expected credit losses, payment rates, servicing costs, discount rates and yields earned on our general purpose credit card receivables. 
    
   For our credit and debt facilities where market prices are not available, we assess the fair value of these liabilities based on our estimate of future cash flows generated from their underlying credit card receivables collateral, net of servicing compensation required under the note facilities. We have evaluated the fair value of our third party debt by analyzing repayment terms and credit spreads included in our recent financing arrangements to those of our existing facilities. See Note 10, "Notes Payable," for further discussion on our other notes payable.

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   Other Relevant Data
    
   Other relevant data (in thousands) as of  September 30, 2025 and  December 31, 2024 concerning certain assets we carry at fair value are as follows:

       Loans at Fair Value Pledged as Collateral under Structured Financings 
   As of September 30, 2025    As of December 31, 2024  
 Aggregate unpaid gross balance of loans carried at fair value  $6,600,135  $2,724,782 
 Aggregate unpaid principal balance included within loans at fair value  $6,198,693  $2,472,999 
 Aggregate fair value of loans at fair value  $6,350,009  $2,630,274 
 Aggregate fair value of loans at fair value that are 90 days or more past due (which also coincides with finance charge and fee non-accrual policies)  $47,635  $32,781 
 Unpaid principal balance of loans at fair value and are 90 days or more past due (which also coincides with finance charge and fee non-accrual policies) over the fair value of such loans, interest and fees receivable  $264,254  $145,099 

       8. 
       Variable Interest Entities 

   The Company contributes the vast majority of receivables to VIEs. These entities are sometimes established to facilitate third party financing. When assets are contributed to a VIE, they serve as collateral for the debt securities issued by that VIE