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Fair Value Measurements (Tables) | 3 Months Ended
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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 |
_______________________ (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.

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- Definition Tabular disclosure of the fair value measurement of liabilities using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets), and gains or losses recognized in other comprehensive income (loss) and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issues, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs) by class of liability. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c) -URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19279-110258 + Details
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- Definition Tabular disclosure of assets and liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3). + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258 + Details
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