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Borrowings (Tables)
 3 Months Ended
Mar. 31, 2020
Debt Disclosure [Abstract]  
Schedule of Consolidated Debt and Capital Lease Obligations The components of the Company’s consolidated borrowings were as follows (in thousands):
March 31,
2020		December 31,
2019
Encore revolving credit facility$528,000  $492,000  
Encore term loan facility167,855  171,677  
Encore senior secured notes292,500  308,750  
Encore convertible notes and exchangeable notes672,855  672,855  
Less: debt discount(27,264) (30,308) 
Cabot senior secured notes1,078,965  1,129,039  
Less: debt discount(1,417) (1,604) 
Cabot senior revolving credit facility241,170  285,749  
Cabot securitisation senior facilities435,099  464,092  
Other47,924  54,151  
Finance lease liabilities8,642  8,121  
3,444,329  3,554,522  
Less: debt issuance costs, net of amortization(39,902) (41,325) 
Total$3,404,427  $3,513,197  
Schedule of Notes
The following table provides a summary of the principal balance, maturity date and interest rate for the Company’s convertible and exchangeable senior notes (the “Convertible Notes” or “Exchangeable Notes,” as applicable) ($ in thousands):
March 31,
2020		December 31,
2019		Maturity dateInterest rate
2020 Convertible Notes$89,355  $89,355  Jul 1, 20203.000 %
2021 Convertible Notes161,000  161,000  Mar 15, 20212.875 %
2022 Convertible Notes150,000  150,000  Mar 15, 20223.250 %
Exchangeable Notes172,500  172,500  Sep 1, 20234.500 %
2025 Convertible Notes100,000  100,000  Oct 1, 20253.250 %
$672,855  $672,855  
The following table provides a summary of the Cabot senior secured notes ($ in thousands):
March 31,
2020		December 31,
2019		Maturity dateInterest rate
Floating rate senior secured notes due 2024$441,336  $448,921  Jun 1, 2024
EURIBOR +6.375%
Senior secured notes due 2023637,629  680,118  Oct 1, 20237.500 %
$1,078,965  $1,129,039  
Schedule of Hedge Program for Convertible Notes Certain key terms related to the convertible and exchangeable features as of March 31, 2020 are listed below:
2020 Convertible Notes2021 Convertible Notes2022 Convertible Notes2023 Exchangeable Notes2025 Convertible Notes
Initial conversion or exchange price$45.72  $59.39  $45.57  $44.62  $40.00  
Closing stock price at date of issuance$33.35  $47.51  $35.05  $36.45  $32.00  
Closing stock price dateJun 24, 2013Mar 5, 2014Feb 27, 2017Jul 20, 2018Sep 4, 2019
Conversion or exchange rate (shares per $1,000 principal amount)21.8718  16.8386  21.9467  22.4090  25.0000  
Conversion or exchange dateJan 1, 2020Sep 15, 2020Sep 15, 2021Mar 1, 2023Jul 1, 2025
The details of the hedge program are listed below (in thousands, except conversion price):
2020 Convertible Notes2021 Convertible Notes2023 Exchangeable Notes
Cost of the hedge transaction(s)$18,113  $19,545  $17,785  
Initial conversion or exchange price$45.72  $59.39  $44.62  
Effective conversion or exchange price$61.55  $83.14  $62.48  
Schedule of Balances of the Liability and Equity Components
The debt and equity components, the issuance costs related to the equity component, the stated interest rate, and the effective interest rate for each of the Convertible Notes and Exchangeable Notes at the time of the original offering are listed below (in thousands, except percentages):
2020 Convertible Notes(1)
2021 Convertible Notes2022 Convertible Notes2023 Exchangeable Notes2025 Convertible Notes
Debt component$140,247  $143,645  $137,266  $157,971  $91,024  
Equity component$32,253  $17,355  $12,734  $14,009  $8,976  
Equity issuance cost$1,106  $581  $398  $—  $224  
Stated interest rate3.000 %2.875 %3.250 %4.500 %3.250 %
Effective interest rate6.350 %4.700 %5.200 %6.500 %5.000 %
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(1)The Company used a portion of the net proceeds from the issuance of the 2025 Convertible Notes to repurchase approximately $83.1 million aggregate principal amount of its 2020 Convertible Notes. As a result, the remaining principal amount of the 2020 Convertible Notes was $89.4 million as of March 31, 2020.
The balances of the liability and equity components of all the Convertible Notes and Exchangeable Notes outstanding were as follows (in thousands):
March 31,
2020		December 31,
2019
Liability component—principal amount$672,855  $672,855  
Unamortized debt discount(27,264) (30,308) 
Liability component—net carrying amount$645,591  $642,547  
Equity component$83,127  $83,127  
Schedule of Interest Expense Interest expense related to the Convertible Notes and Exchangeable Notes was as follows (in thousands):
Three Months Ended March 31,
20202019
Interest expense—stated coupon rate$5,799  $5,337  
Interest expense—amortization of debt discount3,044  3,121  
Interest expense—Convertible Notes and Exchangeable Notes$8,843  $8,458  
Interest expense related to the Cabot senior secured notes was as follows (in thousands):
 Three Months Ended March 31,
20202019
Interest expense—stated coupon rate$19,417  $19,394  
Interest expense—amortization of debt discount85  202  
Interest expense—Cabot senior secured notes$19,502  $19,596