Fair Value Measurements (Tables)

6 Months Ended

Jun. 30, 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 June 30, 2021
	Level 1		Level 2		Level 3		Total
Assets
Interest rate cap contracts	$	—	$	727	$	—	$	727
Liabilities
Interest rate swap agreements	—		(2,501)				(2,501)
Cross-currency swap agreements	—		(968)				(968)
Contingent consideration	—				(5,404)		(5,404)

	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 six months ended June 30, 2021 and year ended December 31, 2020 (in thousands):

	Amount
Balance as of December 31, 2019	$	66
Issuance of contingent consideration in connection with purchase of noncontrolling interest	2,848
Payment of contingent consideration	(88)
Effect of foreign currency translation	131
Balance as of December 31, 2020	2,957
Issuance of contingent consideration in connection with purchase of noncontrolling interest	2,913
Change in fair value of contingent consideration	(388)
Payment of contingent consideration	(113)
Effect of foreign currency translation	35
Balance as of June 30, 2021	$	5,404

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 June 30, 2021 and December 31, 2020 (in thousands):

	June 30, 2021				December 31, 2020
	Carrying Amount		Estimated Fair Value		Carrying Amount		Estimated Fair Value
Financial Assets
Investment in receivable portfolios, net	$	3,154,001	$	3,530,567	$	3,291,918	$	3,705,672
Financial Liabilities
Convertible notes and exchangeable notes(1)	422,500		524,195		564,136		622,081
Senior secured notes(2)	1,659,406		1,732,423		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.