@ValueSearchRevenue = Collections - Amortisation.
Sometimes other companies use the word Liquidations for Collections. And the word Fair Value Adjustment for Amortisation. Although CCP makes these numbers transparent in their reports, there are others that make it difficult, requiring back-solving to uncover the actual numbers.
Amortisation should viewed as the declining value of the PDL assets as they're used up (money have been collected), have been deemed un-collectable, or become less valuable (e.g. as time passes, it becomes harder to collect on a debt).
An analogy might be that PDL assets are like crappy second-hand stereo gear that you purchased for $150 per piece, hoping to sell for $1000 - mostly via Afterpay-esque payment plans. You've purchased $150m worth of these stereos in the past year. They have a "face value" of $1.0b, but in reality you're hoping to receive $330m over the next 3-4 years. Sometimes you get one sold at full price, sometimes you do a discount to move the product, sometimes people stop paying the payment plans, sometimes you find a stereo you purchased is actually broken, and as time passes they become harder and harder to sell as there are new models available - each time this happens you write-off (amortise) the value of your inventory.
It's a real cost. But requires modelling from management to determine the actual based on a whole bunch of assumptions.
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