Fair Value Measurements (Tables)

3 Months Ended

Mar. 31, 2020

Fair Value Disclosures [Abstract]

Schedule of Financial Assets and Liabilities Measured at Fair Value on Recurring Basis

Financial assets and liabilities measured at fair value on a recurring basis are summarized below (in thousands):

	Fair Value Measurements as of March 31, 2020
	Level 1		Level 2		Level 3		Total
Assets
Interest rate cap contracts	$	—	$	2,150	$	—	$	2,150
Liabilities
Foreign currency exchange contracts	—		(2,177)		—		(2,177)
Interest rate swap agreements	—		(14,735)		—		(14,735)
Contingent consideration	—		—		(27)		(27)

	Fair Value Measurements as of December 31, 2019
	Level 1		Level 2		Level 3		Total
Assets
Foreign currency exchange contracts	$	—	$	1,473	$	—	$	1,473
Interest rate cap contracts	—		2,460		—		2,460
Liabilities
Interest rate swap agreements	—		(9,116)		—		(9,116)
Contingent consideration	—		—		(66)		(66)

Schedule of Roll Forward of the Fair Value of Contingent Consideration

The following table provides a roll-forward of the fair value of contingent consideration for the three months ended March 31, 2020 and year ended December 31, 2019 (in thousands):

	Amount
Balance as of December 31, 2018	$	6,198
Change in fair value of contingent consideration	(2,300)
Payment of contingent consideration	(3,686)
Effect of foreign currency translation	(146)
Balance as of December 31, 2019	66
Payment of contingent consideration	(35)
Effect of foreign currency translation	(4)
Balance as of March 31, 2020	$	27

Schedule of Financial Instruments Not Required to be Carried at Fair Value

The carrying amounts in the following table are included in the consolidated statements of financial condition as of March 31, 2020 and December 31, 2019 (in thousands):

	March 31, 2020				December 31, 2019
	Carrying Amount		Estimated Fair Value		Carrying Amount		Estimated Fair Value
Financial Assets
Investment in receivable portfolios, net	$	3,166,018	$	3,547,965	$	3,283,984	$	3,464,050
Deferred court costs	—		—		100,172		100,172
Financial Liabilities
Encore convertible notes and exchangeable notes(1)	645,591		567,691		642,547		693,708
Cabot senior secured notes(2)	1,077,548		996,060		1,127,435		1,170,945

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(1)Carrying amount represents the portion of the convertible and exchangeable notes classified as debt, while estimated fair value pertains to the face amount of the notes.

(2)Carrying amount represents historical cost, adjusted for any related debt discount or debt premium.