Fair Value Measurements (Tables)

3 Months Ended

Mar. 31, 2021

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, 2021
	Level 1		Level 2		Level 3		Total
Assets
Interest rate cap contracts	$	—	$	854	$	—	$	854
Liabilities
Interest rate swap agreements	—		(3,847)		—		(3,847)
Cross-currency swap agreements	—		(5,340)		—		(5,340)
Contingent consideration	—		—		(2,927)		(2,927)

	Fair Value Measurements as of December 31, 2020
	Level 1		Level 2		Level 3		Total
Assets
Cross-currency swap agreements	$	—	$	11,578	$	—	$	11,578
Interest rate cap contracts	—		659		—		659
Liabilities
Interest rate swap agreements	—		(5,232)		—		(5,232)
Contingent consideration	—		—		(2,957)		(2,957)

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, 2021 and year ended December 31, 2020 (in thousands):

	Amount
Balance as of December 31, 2019	$	66
Issuance of contingent consideration in connection with acquisition	2,848
Payment of contingent consideration	(88)
Effect of foreign currency translation	131
Balance as of December 31, 2020	2,957
Payment of contingent consideration	(56)
Effect of foreign currency translation	26
Balance as of March 31, 2021	$	2,927

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, 2021 and December 31, 2020 (in thousands):

	March 31, 2021				December 31, 2020
	Carrying Amount		Estimated Fair Value		Carrying Amount		Estimated Fair Value
Financial Assets
Investment in receivable portfolios, net	$	3,225,678	$	3,615,300	$	3,291,918	$	3,705,672
Financial Liabilities
Convertible notes and exchangeable notes(1)	422,500		481,126		564,136		622,081
Senior secured notes(2)	1,613,557		1,683,277		1,642,058		1,684,729

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(1)Prior to January 1, 2021, under the previous accounting standard, the convertible and exchangeable notes included a debt discount. The carrying amount as of December 31, 2020 represented the principal amount of the notes, net of the debt discount.

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