Companies worldwide below use cost basis to measure their...

Companies worldwide below use cost basis to measure their portfolio debt ledger. They are mostly debt collectors like PNC.

CLH (Australia)
CCP (Australia)
Arrow Plc (UK)
Encore (US)
Portfolio Recovery Associates (US)
Lock Lower Holding AS - Lindorff (Netherlands)
Garfunkelux (GFKL - Lowell Group)(Luxembourg)

Fair value
PNC - Only debt collector in the world that measures portfolio debt ledger at fair value.

If you refer to note 5 of PNC's 2017 annual report $54m uplift in PDL that went through Income statement, less amortisation rate of 22%. CCP uses an amortisation rate of 47%; CLH's is 39%.

All other companies using cost method increased profits by $0. Huge difference between cost and fair value or if there are not major differences like you suggest why use fair value. This is the same as mark to market and much more. I don't need to believe the BS. I have no further comments on PNC.

DYOR.