Fair Value Measurements (Tables)

12 Months Ended

Dec. 31, 2023

Summary 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 December 31, 2023
	Level 1		Level 2		Level 3		Total
Assets

Interest rate cap contracts	$	—	$	16,950	$	—	$	16,950
Cross-currency swap agreements	—		361		—		361
Liabilities

Interest rate swap agreements	—		(22,510)		—		(22,510)
Cross-currency swap agreements	—		(28,039)		—		(28,039)


	Fair Value Measurements as of December 31, 2022
	Level 1		Level 2		Level 3		Total
Assets


Interest rate cap contracts	$	—	$	36,807	$	—	$	36,807
Liabilities

Cross-currency swap agreements	—		(36,918)		—		(36,918)

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 years ended December 31, 2022, and 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	(5,273)
Effect of foreign currency translation	(739)
Balance as of December 31, 2022	$	—

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 December 31, 2023 and December 31, 2022 (in thousands):


	December 31, 2023				December 31, 2022
	Carrying Amount		Estimated Fair Value		Carrying Amount		Estimated Fair Value
Financial Assets
Investment in receivable portfolios, net	$	3,468,432	$	3,515,651	$	3,088,261	$	3,242,506

Financial Liabilities
Global senior secured revolving credit facility	816,880		816,880		661,738		661,738
Encore private placement notes	29,310		28,922		68,390		66,947
Senior secured notes(1)	1,649,621		1,598,636		1,480,258		1,334,686
Exchangeable senior notes due September 2023	—		—		172,500		205,227
Convertible senior notes due October 2025	100,000		136,403		100,000		130,556
Convertible senior notes due March 2029	230,000		226,794		—		—
Cabot securitisation senior facility	324,646		324,646		423,522		423,522
U.S. facility	175,000		175,000		—		—
Other borrowings	24,904		24,904		23,512		23,512

________________________

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