Fair Value Measurements (Tables)

9 Months Ended

Sep. 30, 2022

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 September 30, 2022
	Level 1		Level 2		Level 3		Total
Assets
Interest rate cap contracts	$	—	$	40,282	$	—	$	40,282
Liabilities
Cross-currency swap agreements	—		(67,668)		—		(67,668)
Contingent consideration	—		—		(1,103)		(1,103)

	Fair Value Measurements as of December 31, 2021
	Level 1		Level 2		Level 3		Total
Assets
Interest rate cap contracts	$	—	$	3,541	$	—	$	3,541
Liabilities
Cross-currency swap agreements	—		(16,902)		—		(16,902)
Contingent consideration	—		—		(5,218)		(5,218)

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 nine months ended September 30, 2022 and year ended December 31, 2021 (in thousands):

	Amount
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	(180)
Effect of foreign currency translation	(84)
Balance as of December 31, 2021	5,218
Change in fair value of contingent consideration	794
Payment of contingent consideration	(4,078)
Effect of foreign currency translation	(831)
Balance as of September 30, 2022	$	1,103

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

The carrying amounts in the following table are included in the condensed consolidated statements of financial condition as of September 30, 2022 and December 31, 2021 (in thousands):

	September 30, 2022				December 31, 2021
	Carrying Amount		Estimated Fair Value		Carrying Amount		Estimated Fair Value
Financial Assets
Investment in receivable portfolios, net	$	2,976,202	$	3,197,117	$	3,065,553	$	3,416,926
Financial Liabilities
Convertible senior notes due March 2022(1)	—		—		150,000		195,009
Exchangeable senior notes due September 2023	172,500		201,547		172,500		257,782
Convertible senior notes due October 2025	100,000		125,509		100,000		165,887
Senior secured notes(2)	1,358,671		1,202,918		1,606,327		1,652,246
Encore private placement notes	78,160		75,041		107,470		108,652

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(1)The 2022 Convertible Senior Notes matured on March 15, 2022 and the Company repaid the notes in cash.

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