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Document and Entity Information
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9 Months Ended | |
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Sep. 30, 2013
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Oct. 30, 2013
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| Document And Entity Information [Abstract] | ||
| Document Type | 10-Q | |
| Amendment Flag | false | |
| Document Period End Date | Sep. 30, 2013 | |
| Document Fiscal Year Focus | 2013 | |
| Document Fiscal Period Focus | Q3 | |
| Trading Symbol | ECPG | |
| Entity Registrant Name | ENCORE CAPITAL GROUP INC | |
| Entity Central Index Key | 0001084961 | |
| Current Fiscal Year End Date | --12-31 | |
| Entity Filer Category | Accelerated Filer | |
| Entity Common Stock, Shares Outstanding | 25,421,823 |
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- Definition
If the value is true, then the document is an amendment to previously-filed/accepted document. No definition available.
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- Definition
End date of current fiscal year in the format --MM-DD. No definition available.
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- Definition
This is focus fiscal period of the document report. For a first quarter 2006 quarterly report, which may also provide financial information from prior periods, the first fiscal quarter should be given as the fiscal period focus. Values: FY, Q1, Q2, Q3, Q4, H1, H2, M9, T1, T2, T3, M8, CY. No definition available.
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- Definition
This is focus fiscal year of the document report in CCYY format. For a 2006 annual report, which may also provide financial information from prior periods, fiscal 2006 should be given as the fiscal year focus. Example: 2006. No definition available.
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- Definition
The end date of the period reflected on the cover page if a periodic report. For all other reports and registration statements containing historical data, it is the date up through which that historical data is presented. If there is no historical data in the report, use the filing date. The format of the date is CCYY-MM-DD. No definition available.
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- Definition
The type of document being provided (such as 10-K, 10-Q, 485BPOS, etc). The document type is limited to the same value as the supporting SEC submission type, or the word "Other". No definition available.
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- Definition
A unique 10-digit SEC-issued value to identify entities that have filed disclosures with the SEC. It is commonly abbreviated as CIK. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Indicate number of shares or other units outstanding of each of registrant's classes of capital or common stock or other ownership interests, if and as stated on cover of related periodic report. Where multiple classes or units exist define each class/interest by adding class of stock items such as Common Class A [Member], Common Class B [Member] or Partnership Interest [Member] onto the Instrument [Domain] of the Entity Listings, Instrument. No definition available.
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- Definition
Indicate whether the registrant is one of the following: (1) Large Accelerated Filer, (2) Accelerated Filer, (3) Non-accelerated Filer, (4) Smaller Reporting Company (Non-accelerated) or (5) Smaller Reporting Accelerated Filer. Definitions of these categories are stated in Rule 12b-2 of the Exchange Act. This information should be based on the registrant's current or most recent filing containing the related disclosure. No definition available.
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- Definition
The exact name of the entity filing the report as specified in its charter, which is required by forms filed with the SEC. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Trading symbol of an instrument as listed on an exchange. No definition available.
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- Details
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Condensed Consolidated Statements of Financial Condition (USD $)
In Thousands, unless otherwise specified |
Sep. 30, 2013
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Dec. 31, 2012
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| Assets | ||||||
| Cash and cash equivalents | $ 110,156 | $ 17,510 | ||||
| Investment in receivable portfolios, net | 1,595,642 | 873,119 | ||||
| Deferred court costs, net | 39,004 | 35,407 | ||||
| Receivables secured by property tax liens, net | 186,190 | 135,100 | ||||
| Property and equipment, net | 50,050 | 23,223 | ||||
| Other assets | 120,441 | 31,535 | ||||
| Goodwill | 489,520 | 55,446 | ||||
| Total assets | 2,591,003 | [1] | 1,171,340 | [1] | ||
| Liabilities: | ||||||
| Accounts payable and accrued liabilities | 106,632 | 45,450 | ||||
| Deferred tax liabilities, net | 110,453 | 8,236 | ||||
| Debt | 1,806,680 | 706,036 | ||||
| Other liabilities | 6,967 | 5,802 | ||||
| Total liabilities | 2,030,732 | [1] | 765,524 | [1] | ||
| Redeemable noncontrolling interest | 12,231 | |||||
| Commitments and contingencies | ||||||
| Stockholders' equity: | ||||||
| Convertible preferred stock, $.01 par value, 5,000 shares authorized, no shares issued and outstanding | ||||||
| Common stock, $.01 par value, 50,000 shares authorized, 25,412 shares and 23,191 shares issued and outstanding as of September 30, 2013 and December 31, 2012, respectively | 254 | 232 | ||||
| Additional paid-in capital | 171,548 | 88,029 | ||||
| Accumulated earnings | 371,676 | 319,329 | ||||
| Accumulated other comprehensive gain (loss) | 455 | (1,774) | ||||
| Total Encore Capital Group, Inc. stockholders' equity | 543,933 | 405,816 | ||||
| Noncontrolling interest | 4,107 | |||||
| Total stockholders' equity | 548,040 | 405,816 | ||||
| Total liabilities, redeemable noncontrolling interest and stockholders' equity | $ 2,591,003 | $ 1,171,340 | ||||
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- Definition
Net amount of deferred court costs capitalized at the end of reporting period. No definition available.
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- Definition
Property tax payment agreements receivable, net. No definition available.
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- Definition
Sum of the carrying values as of the balance sheet date of obligations incurred through that date, including liabilities incurred and payable to vendors for goods and services received, taxes, interest, rent and utilities, compensation costs, payroll taxes and fringe benefits (other than pension and postretirement obligations), contractual rights and obligations, and statutory obligations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Accumulated change in equity from transactions and other events and circumstances from non-owner sources, net of tax effect, at period end. Excludes Net Income (Loss), and accumulated changes in equity from transactions resulting from investments by owners and distributions to owners. Includes foreign currency translation items, certain pension adjustments, unrealized gains and losses on certain investments in debt and equity securities, other than temporary impairment (OTTI) losses related to factors other than credit losses on available-for-sale and held-to-maturity debt securities that an entity does not intend to sell and it is not more likely than not that the entity will be required to sell before recovery of the amortized cost basis, as well as changes in the fair value of derivatives related to the effective portion of a designated cash flow hedge. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Excess of issue price over par or stated value of the entity's capital stock and amounts received from other transactions involving the entity's stock or stockholders. Includes adjustments to additional paid in capital. Some examples of such adjustments include recording the issuance of debt with a beneficial conversion feature and certain tax consequences of equity instruments awarded to employees. Use this element for the aggregate amount of additional paid-in capital associated with common and preferred stock. For additional paid-in capital associated with only common stock, use the element additional paid in capital, common stock. For additional paid-in capital associated with only preferred stock, use the element additional paid in capital, preferred stock. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Sum of the carrying amounts as of the balance sheet date of all assets that are recognized. Assets are probable future economic benefits obtained or controlled by an entity as a result of past transactions or events. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Details
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- Definition
Amount of currency on hand as well as demand deposits with banks or financial institutions. Includes other kinds of accounts that have the general characteristics of demand deposits. Also includes short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Excludes cash and cash equivalents within disposal group and discontinued operation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The recorded balance, net of any applicable reductions (for example, unamortized accretable yield and allowance for loan losses). This relates to loans not accounted for debt securities with evidence of deterioration of credit quality since origination that were acquired by completion of a transfer for which it is probable, at acquisition, that the investor will be unable to collect all contractually required payments receivable. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Represents the caption on the face of the balance sheet to indicate that the entity has entered into (1) purchase or supply arrangements that will require expending a portion of its resources to meet the terms thereof, and (2) is exposed to potential losses or, less frequently, gains, arising from (a) possible claims against a company's resources due to future performance under contract terms, and (b) possible losses or likely gains from uncertainties that will ultimately be resolved when one or more future events that are deemed likely to occur do occur or fail to occur. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Aggregate par or stated value of issued nonredeemable common stock (or common stock redeemable solely at the option of the issuer). This item includes treasury stock repurchased by the entity. Note: elements for number of nonredeemable common shares, par value and other disclosure concepts are in another section within stockholders' equity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Sum of the carrying values as of the balance sheet date of all debt, including all short-term borrowings, long-term debt, and capital lease obligations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Amount of deferred tax liability attributable to taxable temporary differences. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Amount after accumulated impairment loss of an asset representing future economic benefits arising from other assets acquired in a business combination that are not individually identified and separately recognized. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Sum of the carrying amounts as of the balance sheet date of all liabilities that are recognized. Liabilities are probable future sacrifices of economic benefits arising from present obligations of an entity to transfer assets or provide services to other entities in the future. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Details
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- Definition
Amount of liabilities and equity items, including the portion of equity attributable to noncontrolling interests, if any. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Total of all stockholders' equity (deficit) items, net of receivables from officers, directors, owners, and affiliates of the entity which is directly or indirectly attributable to that ownership interest in subsidiary equity which is not attributable to the parent (that is, noncontrolling interest, previously referred to as minority interest). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The aggregate carrying amounts, as of the balance sheet date, of assets not separately disclosed in the balance sheet. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The aggregate carrying amount, as of the balance sheet date, of liabilities not separately disclosed in the balance sheet. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Aggregate par or stated value of issued nonredeemable preferred stock (or preferred stock redeemable solely at the option of the issuer). This item includes treasury stock repurchased by the entity. Note: elements for number of nonredeemable preferred shares, par value and other disclosure concepts are in another section within stockholders' equity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Amount after accumulated depreciation, depletion and amortization of physical assets used in the normal conduct of business to produce goods and services and not intended for resale. Examples include, but are not limited to, land, buildings, machinery and equipment, office equipment, and furniture and fixtures. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
As of the reporting date, the aggregate carrying amount of all noncontrolling interests which are redeemable by the (parent) entity (1) at a fixed or determinable price on a fixed or determinable date, (2) at the option of the holder of the noncontrolling interest, or (3) upon occurrence of an event that is not solely within the control of the (parent) entity. This item includes noncontrolling interest holder's ownership (or holders' ownership) regardless of the type of equity interest (common, preferred, other) including all potential organizational (legal) forms of the investee entity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The cumulative amount of the reporting entity's undistributed earnings or deficit. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Total of all stockholders' equity (deficit) items, net of receivables from officers, directors, owners, and affiliates of the entity which are attributable to the parent. The amount of the economic entity's stockholders' equity attributable to the parent excludes the amount of stockholders' equity which is allocable to that ownership interest in subsidiary equity which is not attributable to the parent (noncontrolling interest, minority interest). This excludes temporary equity and is sometimes called permanent equity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Amount of stockholders' equity (deficit), net of receivables from officers, directors, owners, and affiliates of the entity, attributable to both the parent and noncontrolling interests. Amount excludes temporary equity. Alternate caption for the concept is permanent equity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Details
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Condensed Consolidated Statements of Financial Condition (Parenthetical) (USD $)
In Thousands, except Per Share data, unless otherwise specified |
Sep. 30, 2013
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Dec. 31, 2012
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| Convertible preferred stock, par value | $ 0.01 | $ 0.01 | ||||
| Convertible preferred stock, shares authorized | 5,000 | 5,000 | ||||
| Convertible preferred stock, shares issued | ||||||
| Convertible preferred stock, shares outstanding | ||||||
| Common stock, par value | $ 0.01 | $ 0.01 | ||||
| Common stock, shares authorized | 50,000 | 50,000 | ||||
| Common stock, shares issued | 25,412 | 23,191 | ||||
| Common stock, shares outstanding | 25,412 | 23,191 | ||||
| Total assets | $ 2,591,003 | [1] | $ 1,171,340 | [1] | ||
| Cash and cash equivalents | 110,156 | 17,510 | ||||
| Investment in receivable portfolios, net | 1,595,642 | 873,119 | ||||
| Property and equipment, net | 50,050 | 23,223 | ||||
| Other assets | 120,441 | 31,535 | ||||
| Goodwill | 489,520 | 55,446 | ||||
| Total liabilities | 2,030,732 | [1] | 765,524 | [1] | ||
| Accounts payable and accrued liabilities | 106,632 | 45,450 | ||||
| Deferred tax liabilities, net | 110,453 | 8,236 | ||||
| Debt | 1,806,680 | 706,036 | ||||
| Other liabilities | 6,967 | 5,802 | ||||
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Janus Holdings [Member]
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| Total assets | 1,067,007 | |||||
| Cash and cash equivalents | 54,584 | |||||
| Investment in receivable portfolios, net | 596,160 | |||||
| Property and equipment, net | 14,249 | |||||
| Other assets | 32,102 | |||||
| Goodwill | 369,912 | |||||
| Total liabilities | 864,432 | |||||
| Accounts payable and accrued liabilities | 31,817 | |||||
| Deferred tax liabilities, net | 6,978 | |||||
| Debt | 825,524 | |||||
| Other liabilities | $ 113 | |||||
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- Definition
Sum of the carrying values as of the balance sheet date of obligations incurred through that date, including liabilities incurred and payable to vendors for goods and services received, taxes, interest, rent and utilities, compensation costs, payroll taxes and fringe benefits (other than pension and postretirement obligations), contractual rights and obligations, and statutory obligations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Sum of the carrying amounts as of the balance sheet date of all assets that are recognized. Assets are probable future economic benefits obtained or controlled by an entity as a result of past transactions or events. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Amount of currency on hand as well as demand deposits with banks or financial institutions. Includes other kinds of accounts that have the general characteristics of demand deposits. Also includes short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Excludes cash and cash equivalents within disposal group and discontinued operation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The recorded balance, net of any applicable reductions (for example, unamortized accretable yield and allowance for loan losses). This relates to loans not accounted for debt securities with evidence of deterioration of credit quality since origination that were acquired by completion of a transfer for which it is probable, at acquisition, that the investor will be unable to collect all contractually required payments receivable. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Face amount or stated value per share of common stock. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The maximum number of common shares permitted to be issued by an entity's charter and bylaws. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Total number of common shares of an entity that have been sold or granted to shareholders (includes common shares that were issued, repurchased and remain in the treasury). These shares represent capital invested by the firm's shareholders and owners, and may be all or only a portion of the number of shares authorized. Shares issued include shares outstanding and shares held in the treasury. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Number of shares of common stock outstanding. Common stock represent the ownership interest in a corporation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Sum of the carrying values as of the balance sheet date of all debt, including all short-term borrowings, long-term debt, and capital lease obligations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Amount of deferred tax liability attributable to taxable temporary differences. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Amount after accumulated impairment loss of an asset representing future economic benefits arising from other assets acquired in a business combination that are not individually identified and separately recognized. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Sum of the carrying amounts as of the balance sheet date of all liabilities that are recognized. Liabilities are probable future sacrifices of economic benefits arising from present obligations of an entity to transfer assets or provide services to other entities in the future. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The aggregate carrying amounts, as of the balance sheet date, of assets not separately disclosed in the balance sheet. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The aggregate carrying amount, as of the balance sheet date, of liabilities not separately disclosed in the balance sheet. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Face amount or stated value per share of preferred stock nonredeemable or redeemable solely at the option of the issuer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The maximum number of nonredeemable preferred shares (or preferred stock redeemable solely at the option of the issuer) permitted to be issued by an entity's charter and bylaws. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Total number of nonredeemable preferred shares (or preferred stock redeemable solely at the option of the issuer) issued to shareholders (includes related preferred shares that were issued, repurchased, and remain in the treasury). May be all or portion of the number of preferred shares authorized. Excludes preferred shares that are classified as debt. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Aggregate share number for all nonredeemable preferred stock (or preferred stock redeemable solely at the option of the issuer) held by stockholders. Does not include preferred shares that have been repurchased. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Amount after accumulated depreciation, depletion and amortization of physical assets used in the normal conduct of business to produce goods and services and not intended for resale. Examples include, but are not limited to, land, buildings, machinery and equipment, office equipment, and furniture and fixtures. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Certain loans acquired in transfer not accounted for as debt securities, revenue recognized, net. No definition available.
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- Definition
Contingent fees paid to our nationwide network of third party collection agencies. No definition available.
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| X | ||||||||||
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- Definition
Contingent fees paid to our nationwide network of attorneys and costs of litigation. No definition available.
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| X | ||||||||||
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- Definition
The current period expense charged against earnings on long-lived, physical assets not used in production, and which are not intended for resale, to allocate or recognize the cost of such assets over their useful lives; or to record the reduction in book value of an intangible asset over the benefit period of such asset; or to reflect consumption during the period of an asset that is not used in production. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Details
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| X | ||||||||||
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- Definition
The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Details
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- Definition
The aggregate total of expenses of managing and administering the affairs of an entity, including affiliates of the reporting entity, which are not directly or indirectly associated with the manufacture, sale or creation of a product or product line. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Details
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| X | ||||||||||
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- Definition
Amount of income (loss) from continuing operations attributable to the parent. Also defined as revenue less expenses and taxes from ongoing operations before extraordinary items but after deduction of those portions of income or loss from continuing operations that are allocable to noncontrolling interests. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Sum of operating profit and nonoperating income or expense before Income or Loss from equity method investments, income taxes, extraordinary items, and noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
This element represents the income or loss from continuing operations attributable to the economic entity which may also be defined as revenue less expenses and taxes from ongoing operations before extraordinary items, and noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The amount of net income (loss) from continuing operations per each share of common stock or unit outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The amount of net income (loss) derived from continuing operations during the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Amount of income (loss) from a disposal group, net of income tax before extraordinary items allocable to noncontrolling interests. Includes, net of tax, income (loss) from operations during the phase-out period, gain (loss) on disposal, provision (or any reversals of earlier provisions) for loss on disposal, and adjustments of a prior period gain (loss) on disposal. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Amount of income (loss) from a disposal group, net of income tax, reported as a separate component of income before extraordinary items after deduction or consideration of the amount allocable to noncontrolling interests. Includes, net of tax, income (loss) from operations during the phase-out period, gain (loss) on disposal, provision (or any reversals of earlier provisions) for loss on disposal, and adjustments of a prior period gain (loss) on disposal. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Per basic share amount, after tax, of income (loss) from the day-to-day business activities of the discontinued operation and gain (loss) from the disposal of the discontinued operation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Per diluted share amount, after tax, of income (loss) from the day-to-day business activities of the discontinued operation and gain (loss) from the disposal of the discontinued operation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Amount of the cost of borrowed funds accounted for as interest expense. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The net amount of operating interest income (expense). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The aggregate amount of expenditures for salaries, wages, profit sharing and incentive compensation, and other employee benefits, including equity-based compensation, and pension and other postretirement benefit expense. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Amount of Net Income (Loss) attributable to noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The aggregate amount of income or expense from ancillary business-related activities (that is to say, excluding major activities considered part of the normal operations of the business). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Generally recurring costs associated with normal operations except for the portion of these expenses which can be clearly related to production and included in cost of sales or services. Includes selling, general and administrative expense. No definition available.
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| X | ||||||||||
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- Details
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| X | ||||||||||
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- Definition
The net result for the period of deducting operating expenses from operating revenues. No definition available.
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| X | ||||||||||
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- Definition
The total amount of other operating cost and expense items that are associated with the entity's normal revenue producing operation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The net amount of other income and expense amounts, the components of which are not separately disclosed on the income statement, resulting from ancillary business-related activities (that is, excluding major activities considered part of the normal operations of the business) also known as other nonoperating income (expense) recognized for the period. Such amounts may include: (a) dividends, (b) interest on securities, (c) net gains or losses on securities, (d) unusual costs, (e) gains or losses on foreign exchange transactions, and (f) miscellaneous other income and expense items. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Details
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| X | ||||||||||
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- Definition
Revenues from the sale of other goods or rendering of other services, not elsewhere specified in the taxonomy; net of (reduced by) sales adjustments, returns, allowances, and discounts. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
|
- Definition
Amount of revenue recognized from goods sold, services rendered, insurance premiums, or other activities that constitute an earning process. Includes, but is not limited to, investment and interest income before deduction of interest expense when recognized as a component of revenue, and sales and trading gain (loss). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Details
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| X | ||||||||||
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- Definition
The average number of shares or units issued and outstanding that are used in calculating diluted EPS or earnings per unit (EPU), determined based on the timing of issuance of shares or units in the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Details
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| X | ||||||||||
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- Definition
Number of [basic] shares or units, after adjustment for contingently issuable shares or units and other shares or units not deemed outstanding, determined by relating the portion of time within a reporting period that common shares or units have been outstanding to the total time in that period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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|
Condensed Consolidated Statements of Comprehensive Income (USD $)
In Thousands, unless otherwise specified |
3 Months Ended | 9 Months Ended | ||
|---|---|---|---|---|
|
Sep. 30, 2013
|
Sep. 30, 2012
|
Sep. 30, 2013
|
Sep. 30, 2012
|
|
| Statement Of Income And Comprehensive Income [Abstract] | ||||
| Net income | $ 21,064 | $ 21,308 | $ 51,524 | $ 49,310 |
| Other comprehensive (loss) gain, net of tax: | ||||
| Unrealized (loss) gain on derivative instruments | (768) | 1,841 | (1,722) | 1,205 |
| Unrealized gain (loss) on foreign currency translation | 4,648 | 3,951 | (472) | |
| Other comprehensive gain, net of tax | 3,880 | 1,841 | 2,229 | 733 |
| Comprehensive income | 24,944 | 23,149 | 53,753 | 50,043 |
| Comprehensive gain attributable to noncontrolling interest | ||||
| Net loss attributable to noncontrolling interest | 822 | 822 | ||
| Unrealized gain on foreign currency translation | (2,633) | (2,633) | ||
| Comprehensive gain attributable to noncontrolling interests | (1,811) | (1,811) | ||
| Comprehensive income attributable to Encore Capital Group, Inc. stockholders | $ 23,133 | $ 23,149 | $ 51,942 | $ 50,043 |
| X | ||||||||||
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- Definition
Amount after tax of increase (decrease) in equity from transactions and other events and circumstances from net income and other comprehensive income, attributable to parent entity. Excludes changes in equity resulting from investments by owners and distributions to owners. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
|
- Definition
Amount after tax of (increase) decrease in equity from transactions and other events and circumstances from net income and other comprehensive income, attributable to noncontrolling interests. Excludes changes in equity resulting from investments by owners and distributions to owners. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
|
- Details
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| X | ||||||||||
|
- Definition
Amount after tax of increase (decrease) in equity from transactions and other events and circumstances from net income and other comprehensive income. Excludes changes in equity resulting from investments by owners and distributions to owners. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
|
- Details
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| X | ||||||||||
|
- Definition
Amount of Net Income (Loss) attributable to noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
|
- Definition
Amount after tax and reclassification adjustments of (gain) loss on foreign currency translation adjustments, foreign currency transactions designated and effective as economic hedges of a net investment in a foreign entity and intra-entity foreign currency transactions that are of a long-term-investment nature, attributable to noncontrolling interests. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
|
- Definition
Amount after tax, before reclassification adjustments of gain (loss) on foreign currency translation adjustments, foreign currency transactions designated and effective as economic hedges of a net investment in a foreign entity and intra-entity foreign currency transactions that are of a long-term-investment nature. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
|
- Definition
Amount after tax of other comprehensive income (loss) attributable to parent entity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
|
- Definition
Amount after tax of increase (decrease) in accumulated gain (loss) from derivative instruments designated and qualifying as the effective portion of cash flow hedges and an entity's share of an equity investee's increase (decrease) in deferred hedging gain (loss). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
|
- Definition
The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
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| X | ||||||||||
|
- Definition
Reversal provision for allowances on receivable portfolios net. No definition available.
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| X | ||||||||||
|
- Details
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| X | ||||||||||
|
- Definition
Amount of noncash expense included in interest expense to allocate debt discount and premium, and the costs to issue debt and obtain financing over the related debt instruments. Alternate captions include noncash interest expense. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
|
- Definition
Amount of currency on hand as well as demand deposits with banks or financial institutions. Includes other kinds of accounts that have the general characteristics of demand deposits. Also includes short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Excludes cash and cash equivalents within disposal group and discontinued operation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
|
- Definition
Amount of increase (decrease) in cash and cash equivalents. Cash and cash equivalents are the amount of currency on hand as well as demand deposits with banks or financial institutions. Includes other kinds of accounts that have the general characteristics of demand deposits. Also includes short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Includes effect from exchange rate changes. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
|
- Details
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| X | ||||||||||
|
- Definition
Amount of deferred income tax expense (benefit) pertaining to income (loss) from continuing operations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
|
- Definition
The aggregate expense recognized in the current period that allocates the cost of tangible assets, intangible assets, or depleting assets to periods that benefit from use of the assets. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
|
- Definition
Amount of gain (loss), before tax expense or benefit and not previously recognized, resulting from the sale of a business component. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of increase (decrease) from the effect of exchange rate changes on cash and cash equivalent balances held in foreign currencies. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of cash inflow from realized tax benefit related to deductible compensation cost reported on the entity's tax return for equity instruments in excess of the compensation cost for those instruments recognized for financial reporting purposes. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
|
- Definition
Amount of cash outflow for realized tax benefit related to deductible compensation cost reported on the entity's tax return for equity instruments in excess of the compensation cost for those instruments recognized for financial reporting purposes. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Total loss recognized during the period from the impairment of goodwill plus the loss recognized in the period resulting from the impairment of the carrying amount of intangible assets, other than goodwill. No definition available.
|
| X | ||||||||||
|
- Definition
The amount of cash paid during the current period to foreign, federal, state, and local authorities as taxes on income. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The increase (decrease) during the reporting period in the amounts payable to vendors for goods and services received and the amount of obligations and expenses incurred but not paid. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The increase (decrease) during the period in the amount due for taxes based on the reporting entity's earnings or attributable to the entity's income earning process (business presence) within a given jurisdiction. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The increase (decrease) during the reporting period in the value of expenditures made during the current reporting period for benefits that will be received over a period of years. Deferred charges differ from prepaid expenses in that they usually extend over a long period of time and may or may not be regularly recurring costs of operation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
|
- Details
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| X | ||||||||||
|
- Definition
The increase (decrease) during the reporting period in other assets used in operating activities not separately disclosed in the statement of cash flows. May include changes in other current assets, other noncurrent assets, or a combination of other current and noncurrent assets. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
|
- Definition
The amount of cash paid for interest during the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
|
- Definition
The loss recognized on termination of a contract. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
|
- Definition
Amount of cash inflow (outflow) from financing activities, including discontinued operations. Financing activity cash flows include obtaining resources from owners and providing them with a return on, and a return of, their investment; borrowing money and repaying amounts borrowed, or settling the obligation; and obtaining and paying for other resources obtained from creditors on long-term credit. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
|
- Details
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| X | ||||||||||
|
- Definition
Amount of cash inflow (outflow) from investing activities, including discontinued operations. Investing activity cash flows include making and collecting loans and acquiring and disposing of debt or equity instruments and property, plant, and equipment and other productive assets. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
|
- Details
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| X | ||||||||||
|
- Definition
Amount of cash inflow (outflow) from operating activities, including discontinued operations. Operating activity cash flows include transactions, adjustments, and changes in value not defined as investing or financing activities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
The amount of fixed assets that an Entity acquires in a noncash (or part noncash) acquisition. Noncash is defined as information about all investing and financing activities of an enterprise during a period that affect recognized assets or liabilities but that do not result in cash receipts or cash payments in the period. "Part noncash" refers to that portion of the transaction not resulting in cash receipts or cash payments in the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
|
- Definition
The cash outflow for derivative instruments during the period, which are classified as investing activities, excluding those designated as hedging instruments. No definition available.
|
| X | ||||||||||
|
- Definition
The cash outflow for a financial contract that meets the hedge criteria as either cash flow hedge, fair value hedge or hedge of net investment in foreign operations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The net cash outflow or inflow from other investing activities. This element is used when there is not a more specific and appropriate element in the taxonomy. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The cash outflow for loan and debt issuance costs. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
|
- Definition
Amount of cash outflow to satisfy an employee's income tax withholding obligation as part of a net-share settlement of a share-based award. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The cash outflow associated with the acquisition of a business, net of the cash acquired from the purchase. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The cash outflow for the purchase of amounts due from customers, clients, lessees, borrowers, or others under the terms of its agreements therewith. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
|
- Definition
The cash outflow to acquire an agreement for an unconditional promise by the maker to pay the entity (holder) a definite sum of money at a future date. Such amount may include accrued interest receivable in accordance with the terms of the note. The note also may contain provisions including a discount or premium, payable on demand, secured, or unsecured, interest bearing or noninterest bearing, among myriad other features and characteristics. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The cash outflow associated with the acquisition of long-lived, physical assets that are used in the normal conduct of business to produce goods and services and not intended for resale; includes cash outflows to pay for construction of self-constructed assets. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The cash inflow associated with the collection of receivables arising from the financing of goods and services. No definition available.
|
| X | ||||||||||
|
- Definition
The cash inflow associated with principal collections from a borrowing supported by a written promise to pay an obligation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
|
- Definition
The cash inflow from the issuance of a long-term debt instrument which can be exchanged for a specified amount of another security, typically the entity's common stock, at the option of the issuer or the holder. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The cash inflow from a contractual arrangement with the lender, including letter of credit, standby letter of credit and revolving credit arrangements, under which borrowings can be made up to a specific amount at any point in time with maturities due beyond one year or the operating cycle, if longer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
|
- Definition
The net cash inflow or outflow from other financing activities. This element is used when there is not a more specific and appropriate element in the taxonomy. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The cash inflow from borrowings supported by a written promise to pay an obligation that is collateralized (backed by pledge, mortgage or other lien in the entity's assets). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The cash outflow for the settlement of obligation drawn from a contractual arrangement with the lender, including letter of credit, standby letter of credit and revolving credit arrangements, under which borrowings can be made up to a specific amount at any point in time with maturities due beyond one year or the operating cycle, if longer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
|
- Definition
The cash outflow for the payment of other borrowing not otherwise defined in the taxonomy. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The cash outflow for a long-term debt where the holder has highest claim on the entity's asset in case of bankruptcy or liquidation during the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The aggregate amount of noncash, equity-based employee remuneration. This may include the value of stock or unit options, amortization of restricted stock or units, and adjustment for officers' compensation. As noncash, this element is an add back when calculating net cash generated by operating activities using the indirect method. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
|
- Details
|
|
Ownership, Description of Business and Summary of Significant Accounting Policies
|
9 Months Ended |
|---|---|
|
Sep. 30, 2013
|
|
| Accounting Policies [Abstract] | |
| Ownership, Description of Business and Summary of Significant Accounting Policies | Note 1: Ownership, Description of Business and Summary of Significant Accounting Policies Encore Capital Group, Inc. (“Encore”), through its subsidiaries (collectively, the “Company”), is a global leading provider of debt recovery solutions for consumers and property owners across a broad range of financial assets. The Company purchases portfolios of defaulted consumer receivables at deep discounts to face value and manages them by working with individuals as they repay their obligations and work toward financial recovery. Defaulted receivables are consumers’ unpaid financial commitments to credit originators, including banks, credit unions, consumer finance companies, commercial retailers, and telecommunication companies. Defaulted receivables may also include receivables subject to bankruptcy proceedings. Encore’s subsidiary, Janus Holdings Luxembourg S.a.r.l. (“Janus Holdings”), through its indirectly held United Kingdom based subsidiary Cabot Credit Management Limited (“Cabot”), is a market leader in debt management in the United Kingdom specializing in higher balance, “semi-performing” accounts. In addition, through Encore’s subsidiary, Propel Financial Services, LLC (“Propel”), the Company assists Texas and Nevada property owners who are delinquent on their property taxes by paying these taxes on behalf of the property owners in exchange for payment agreements collateralized by the existing tax liens on the property. Propel also acquires tax lien certificates directly from taxing authorities outside of Texas. Portfolio Purchasing and Recovery United States. The Company purchases receivable portfolios based on robust, account-level valuation methods and employs a suite of proprietary statistical and behavioral models across the full extent of its operations. These investments allow the Company to value portfolios accurately (and limit the risk of overpaying), avoid buying portfolios that are incompatible with its methods or goals and precisely align the accounts it purchases with its operational channels to maximize future collections. As a result, the Company has been able to realize significant returns from the receivables it acquires. The Company maintains strong relationships with many of the largest credit and telecommunication providers, and possesses one of the industry’s best collection staff retention rates. The Company uses insights discovered during its purchasing process to build account collection strategies. The Company’s proprietary consumer-level collectability analysis is the primary determinant of whether an account will be actively serviced post-purchase. The Company continuously refines this analysis to determine the most effective collection strategy to pursue for each account it owns. After the Company’s preliminary analysis, it seeks to collect on only a fraction of the accounts it purchases, through one or more of its collection channels. The channel identification process is analogous to a funneling system, where the Company first differentiates those consumers who it believes are not able to pay from those who are able to pay. Consumers who the Company believes are financially incapable of making any payments, facing extenuating circumstances or hardships (such as medical issues), serving in the military, or currently receiving social security as their only source of income are excluded from the next step of its collection process and are designated as inactive. The remaining pool of accounts in the funnel then receives further evaluation. At that point, the Company analyzes and determines a consumer’s perceived willingness to pay. Based on that analysis, the Company will pursue collections through letters and/or phone calls to its consumers. Despite its efforts to reach consumers and work out a settlement option, only a small number of consumers who are contacted choose to engage with the Company. Those who do are often offered deep discounts on their obligations, or are presented with payment plans that are better suited to meet their daily cash flow needs. The majority of contacted consumers, however, ignore both the Company’s calls and letters, and therefore the Company must then make the difficult decision whether or not to pursue collections through legal means. The Company continually monitors applicable changes to laws governing statutes of limitations and disclosures to consumers. The Company maintains policies, system controls, and processes designed to ensure that accounts past the applicable statute of limitations do not get placed into legal collections. Additionally, in written and verbal communications with consumers, the Company provides disclosures to the consumer that the account is past its applicable statute of limitations and, therefore, the Company will not pursue collections through legal means. United Kingdom. Through Cabot, portfolio receivables are purchased using a proprietary pricing model. This model allows Cabot to value portfolios with a high degree of accuracy and quantify portfolio performance in order to maximize future collections. As a result, Cabot has been able to realize significant returns from the assets it has acquired. Cabot maintains strong relationships with many of the largest financial service providers in the United Kingdom.
Cabot also uses insights discovered during its purchasing process to build account collection strategies. Cabot’s proprietary consumer-level collectability analysis is the primary determinant of how an account will be serviced post-purchase. Cabot continuously refines this analysis to determine the most effective collection strategy to pursue for each account it owns. In recent years, Cabot has concentrated on buying portfolios that are described as semi-performing in which over 50% of accounts have made a payment in three of the last four months immediately prior to the portfolio purchase. Cabot will try to establish contact with these consumers in order to transfer payment arrangements and gauge the willingness of these consumers to pay. Consumers who Cabot believes are financially incapable of making any payments, those having negative disposable income, or those experiencing hardships (such as medical issues or mental incapacity), are placed on hold and handled outside of normal collections routines. The remaining pool of accounts in the funnel then receives further evaluation. At that point, Cabot analyzes and determines a consumer’s perceived willingness to pay. Based on that analysis, Cabot pursues collections through letters and/or phone calls to its consumers. Where contact is made and consumers indicate a willingness to pay, a patient approach of forbearance is applied using regulatory protocols within the United Kingdom to assess affordability and ensure that plans are fair and balanced and therefore sustainable. Where consumers are not locatable or refuse to engage in a constructive dialogue, Cabot will pass these accounts through a litigation scorecard and rule set in order to assess suitability for legal action. Tax Lien Business Propel’s principal activities are the acquisition and servicing of residential and commercial tax liens on real property. These liens take priority over most other liens. By funding tax liens, Propel provides state and local taxing authorities and governments with much needed tax revenue. To the extent permitted by local law, Propel works with property owners to structure affordable payment plans designed to allow them to keep their property while paying their property tax obligation over time. Propel maintains a foreclosure rate of less than one-half of one percent. Propel’s receivables secured by property tax liens include tax lien transfers (“TLTs”) and tax lien certificates (“TLCs”). With TLTs, property owners choose to have the taxing authority transfer their tax lien to Propel. Propel pays their tax lien obligation to the taxing authority and the property owner pays Propel over time at a lower interest rate than is being assessed by the taxing authority. TLTs provide property owners with repayment plans that are both affordable and flexible when compared with other payment options. Propel also purchases TLCs directly from taxing authorities, securing rights to future property tax payments, interest and penalties. In most cases, TLCs continue to be serviced by the taxing authority. When the taxing authority is paid, it repays the Company the outstanding balance of the lien plus interest, which is negotiated at the time of the purchase. Financial Statement Preparation and Presentation The accompanying interim condensed consolidated financial statements have been prepared by Encore, without audit, in accordance with the instructions to the Quarterly Report on Form 10-Q, and Rule 10-01 of Regulation S-X promulgated by the United States Securities and Exchange Commission (the “SEC”) and, therefore, do not include all information and footnotes necessary for a fair presentation of its consolidated financial position, results of operations and cash flows in accordance with accounting principles generally accepted in the United States (“GAAP”). In the opinion of management, the unaudited financial information for the interim periods presented reflects all adjustments, consisting of only normal and recurring adjustments, necessary for a fair presentation of the Company’s consolidated financial position, results of operations, and cash flows. These condensed consolidated financial statements should be read in conjunction with the consolidated financial statements included in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2012. Operating results for interim periods are not necessarily indicative of operating results for an entire fiscal year. The preparation of financial statements in conformity with accounting principles generally accepted in the United States requires management to make estimates and assumptions that affect the reported amounts and the disclosure of contingent amounts in the Company’s financial statements and the accompanying notes. Actual results could materially differ from those estimates. Basis of Consolidation The consolidated financial statements have been prepared in conformity with GAAP, and reflect the accounts and operations of the Company and those of its subsidiaries in which the Company has a controlling financial interest. The Company also consolidates Variable Interest Entities (“VIE”), for which it is the primary beneficiary. The primary beneficiary has both (a) the power to direct the activities of the VIE that most significantly affect the entity’s economic performance, and (b) the obligation to absorb losses or the right to receive benefits. The Company has determined that its less than wholly owned subsidiary Janus Holdings is a VIE, and the Company is the primary beneficiary of the VIE. As a result, the financial results of Janus Holdings are consolidated under the VIE consolidation model. Refer to Note 12, “Variable Interest Entity,” for further details. The Company evaluates its relationships with the VIE on an ongoing basis to ensure that it continues to be the primary beneficiary. All intercompany transactions and balances have been eliminated in consolidation.
Translation of Foreign Currencies The financial statements of Janus Holdings are measured using their local currency Great British Pounds as the functional currency. Janus Holdings assets and liabilities are translated as of the end of the balance sheet date and revenue and expenses are translated at an average rate over the period. Currency translation adjustments are recorded as a component of other comprehensive income. Transaction gains and losses are included in other (expense) income. Reclassifications Certain immaterial amounts in the 2012 consolidated financial statements have been reclassified to conform to the 2013 presentation. |
| X | ||||||||||
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- Details
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| X | ||||||||||
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- Definition
The entire disclosure for organization, consolidation and basis of presentation of financial statements disclosure. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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|
Discontinued Operations
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Sep. 30, 2013
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| Discontinued Operations And Disposal Groups [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Discontinued Operations | Note 2: Discontinued Operations On May 16, 2012, the Company completed the sale of substantially all of the assets and certain of the liabilities of its bankruptcy servicing subsidiary, Ascension Capital Group, Inc. (“Ascension”), to a subsidiary of American InfoSource, L.P. (“AIS”). As part of the sale, the Company agreed to fund certain agreed-upon operating losses in the first year of AIS’ ownership of the Ascension business, not to exceed $4.0 million. If the Ascension business becomes profitable under AIS’ ownership, the Company will be paid an earn-out equal to 40% of Ascension’s EBITDA for the first five years commencing May 16, 2012. The Company received no proceeds from the sale and recognized the entire $4.0 million loss contingency during the second quarter of 2012. Additionally, the Company did not receive any earn-out from AIS during the first year subsequent to the sale. During the quarter ending September 30, 2013, the Company incurred $0.5 million in expense related to Ascension, which is presented as a discontinued operation in the Company’s condensed consolidated statements of income for the three and nine months ended September 30, 2013 and 2012. The following table presents the revenue and loss from discontinued operations (in thousands):
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The entire disclosure for the facts and circumstances leading to the completed or expected disposal, manner and timing of disposal, the gain (loss) recognized in the income statement and the income statement caption that includes that gain (loss), amounts of revenues and pretax profit or loss reported in discontinued operations, the segment in which the disposal group was reported, and the classification (whether sold or classified as held for sale) and carrying value of the assets and liabilities comprising the disposal group. Includes all disposal groups, including those classified as components of the entity (discontinued operations). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Business Combinations
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Sep. 30, 2013
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| Business Combinations [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Business Combinations | Note 3: Business Combinations Cabot Acquisition On July 1, 2013, the Company, through its wholly owned subsidiary Encore Europe Holdings S.a.r.l. (“Encore Europe”), completed its acquisition (the “Cabot Acquisition”) of 50.1% of the equity interest in Janus Holdings, the indirect holding company of United Kingdom based Cabot from certain funds advised by J.C. Flowers & Co. LLC (“J.C. Flowers”) pursuant to a Securities Purchase Agreement (as amended, the “Purchase Agreement”). Pursuant to the terms and conditions of the Purchase Agreement, Encore Europe purchased from J.C. Flowers: (i) E Bridge preferred equity certificates issued by Janus Holdings, with a face value of £10,218,574 (and any accrued interest thereof) (the “E Bridge PECs”), (ii) E preferred equity certificates issued by Janus Holdings with a face value of £96,729,661 (and any accrued interest thereof) (the “E PECs”), (iii) 3,498,563 E shares of Janus Holdings (the “E Shares”), and (iv) 100 A shares of Cabot Holdings S.a.r.l. (“ Cabot Holdings”), the direct subsidiary of Janus Holdings, for an aggregate purchase price of approximately £115.1 million. The E Bridge PECs, E PECs, and E Shares represent 50.1% of all of the issued and outstanding equity and debt securities of Janus Holdings. The remaining 49.9% of Janus Holdings’ equity and debt securities are owned by J.C. Flowers and include: (a) J Bridge preferred equity certificates with a face value of £10,177,781 (the “J Bridge PECs”) (represents the amount after the partial redemption of the J Bridge PECs contemplated in the Purchase Agreement and discussed in Note 11, “Debt”), (b) J preferred equity certificates with a face value of £96,343,515 (the “J PECs”), (c) 3,484,597 J shares of Janus Holdings (the “J Shares”), and (d) 100 A shares of Cabot Holdings.
Through its acquisition of Janus Holdings, the Company’s effective equity ownership of Cabot will amount to approximately 42.9%, after reflecting the ownership of the noncontrolling interests and the redemption or conversion of the E Bridge PECS and the J Bridge PECs. The E Bridge PECs and the J Bridge PECs may be redeemed at any time prior to June 18, 2014. Any E Bridge PECs and J Bridge PECs that remain unredeemed as of June 18, 2014 will be converted into E Shares and E PECs, or J Shares and J PECs, as the case may be, in proportion to the number of E Shares and E PECs, or J Shares and J PECs, as applicable, outstanding on the closing date of the Cabot Acquisition. The E Bridge PECs, E PECs, J Bridge PECs and J PECs accrue interest at 12% per annum. The following diagram summarizes Cabot’s corporate structure after the Company’s completion of the Cabot Acquisition. Encore has no interest in the J.C. Flowers entities or the employee benefit trust and they are not included in the Company’s consolidated financial statements. LOGO The Cabot Acquisition was accounted for using the acquisition method of accounting and, accordingly, the tangible and intangible assets acquired and liabilities assumed were recorded at their estimated fair values as of the date of the acquisition. Fair value measurements have been applied based on assumptions that market participants would use in the pricing of the respective assets and liabilities. As of the date of this Quarterly Report on Form 10-Q, the Company is still finalizing the allocation of the purchase price. The initial purchase price allocation presented below was based on the preliminary assessment of assets acquired and liabilities assumed, which is subject to change based on the final valuation study that is expected to be completed by the second quarter of 2014. The components of the preliminary purchase price allocation for the Cabot Acquisition are as follows (in thousands):
The goodwill recognized is primarily attributable to (i) the ability to capitalize on Cabot’s existing operating platform to gain immediate access to the debt management business in Europe and (ii) substantial synergies that are expected to be achieved through Cabot’s ability to leverage the Company’s analytic capacities and efficient operating platform. The entire goodwill of $351.6 million related to the Cabot Acquisition was assigned to the Company’s portfolio purchasing reporting unit and is not deductible for income tax purposes. As discussed above, the Company purchased a majority interest in Janus Holdings. The Company has determined that Janus Holdings is a VIE and the Company is the primary beneficiary of the VIE. In accordance with authoritative guidance, the Company consolidates the financial results of Janus Holdings under the VIE consolidation model. The J Bridge PECs, J PECs, and any accrued interest are legal form debt, and are included as debt in the Company’s consolidated financial statements. In addition, certain other minority owners hold preferred equity certificates at the Cabot Holdings level. These preferred equity certificates and accrued interests are also included as debt. The Company’s preliminary valuation study indicated that the fair value of these preferred equity certificates approximates face value. The J shares represent noncontrolling interest at the Janus Holdings level, and the 100 A shares owned by J.C. Flowers represent noncontrolling interest at the Cabot Holdings level, and have been fair valued at the time of acquisition. In connection with the Cabot Acquisition, the Company entered into an Investors Agreement with J.C. Flowers. Pursuant to the Investors Agreement, J.C. Flowers has the right, at certain times, to offer to sell its interest in Janus Holdings to the Company. The Company would then have the right, but not the obligation, to acquire J.C. Flowers’ interest at the offered price, or allow J.C. Flowers to offer Janus Holdings for sale to others. As a result, the noncontrolling interests owned by J.C. Flowers have been reflected as redeemable noncontrolling interests in the accompanying condensed consolidated statements of financial condition. The remaining noncontrolling interests represent other minority owners’ share of interests in Cabot Holdings. Total acquisition and integration costs related to the Cabot Acquisition were approximately $3.3 million and $6.4 million for the three and nine months ended September 30, 2013, respectively, and have been expensed in the accompanying condensed consolidated statements of income within general and administrative expenses. The amount of revenue and net income included in the Company’s condensed consolidated statement of income for the three months ended September 30, 2013 directly related to the Cabot Acquisition, excluding the acquisition and integration costs, was $46.5 million and $4.4 million, respectively. The revenue and loss for the three months ended September 30, 2013 at Janus Holdings was $46.5 million and $1.4 million, respectively. This loss is due to the fact that Janus Holdings recognizes all interest expense related to the outstanding preferred equity certificates owed to Encore, J.C. Flowers, and management. The loss attributable to noncontrolling interests included in the Company’s consolidated statement of income of $0.8 million for the three months ended September 30, 2013 represents the total loss at Janus Holdings of $1.4 million multiplied by the noncontrolling ownership interest of 57.1%. The difference of $5.8 million between what was included in the Company’s financial statements and what was reported by Janus Holdings, represents Encore’s share of preferred equity certificate interest income recognized at Encore Europe and the loss attributable to noncontrolling interests. The following table summarizes the operating performance of Janus Holdings and Encore Europe (in thousands):
AACC Merger On June 13, 2013, the Company completed its merger (the “AACC Merger”) with Asset Acceptance Capital Corp. (“AACC”), a leading provider of debt management and recovery solutions in the United States. The purchase price consisted of $150.8 million in cash consideration and 1.7 million shares of Encore common stock valued at $37.30 per share. In addition, the Company paid off approximately $165.7 million of AACC debt on the closing date of the AACC Merger. The AACC Merger was accounted for using the acquisition method of accounting and, accordingly, the tangible and intangible assets acquired and liabilities assumed were recorded at their estimated fair values as of the date of the merger. Fair value measurements have been applied based on assumptions that market participants would use in the pricing of the respective assets and liabilities. As of the date of this Quarterly Report on Form 10-Q, the Company is still finalizing the allocation of the purchase price. The initial purchase price allocation presented below was based on the preliminary assessment of assets acquired and liabilities assumed, which is subject to change based on the final valuation study that is expected to be completed by the second quarter of 2014. The components of the preliminary purchase price allocation for the AACC Merger are as follows (in thousands):
The entire goodwill of $68.2 million related to AACC was assigned to the Company’s portfolio purchasing reporting unit and is not deductible for income tax purposes. The goodwill recognized is primarily attributable to expected synergies when combining AACC with the Company. Total acquisition and integration costs related to the AACC Merger were approximately $1.8 million and $7.9 million for the three and nine months ended September 30, 2013, respectively, and were expensed in the accompanying condensed consolidated statements of income within general and administrative expenses. The amount of revenue and net income included in the Company’s condensed consolidated statement of income for the three months ended September 30, 2013 related to AACC was $49.1 million and $7.3 million, respectively. The amount of revenue and net income included in the Company’s condensed consolidated statement of income for the nine months ended September 30, 2013 related to AACC was $59.1 million and $8.2 million, respectively. The following summary presents unaudited pro forma consolidated results of operations for the three and nine months ended September 30, 2013 and 2012 as if the Cabot Acquisition and AACC Merger had occurred on January 1, 2012. The following unaudited pro forma financial information does not necessarily reflect the actual results that would have occurred had Encore, Cabot, and AACC been combined during the periods presented, nor is it necessarily indicative of the future results of operations of the combined companies (in thousands):
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The entire disclosure for a business combination (or series of individually immaterial business combinations) completed during the period, including background, timing, and recognized assets and liabilities. The disclosure may include leverage buyout transactions (as applicable). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Earnings per Share
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Sep. 30, 2013
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| Earnings Per Share [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Earnings per Share | Note 4: Earnings per Share Basic earnings per share is calculated by dividing net earnings attributable to Encore by the weighted average number of shares of common stock outstanding during the period. Diluted earnings per share is calculated on the basis of the weighted average number of shares of common stock plus the effect of dilutive potential common shares outstanding during the period using the treasury stock method. Dilutive potential common shares include outstanding stock options, restricted stock, and the dilutive effect of the convertible senior notes. A reconciliation of shares used in calculating earnings per basic and diluted shares follows (in thousands):
No anti-dilutive employee stock options were outstanding during the three and nine months ended September 30, 2013. Employee stock options to purchase approximately 210,000 and 335,000 shares of common stock during the three and nine months ended September 30, 2012, respectively, were outstanding but not included in the computation of diluted earnings per share because the effect on diluted earnings per share would be anti-dilutive. For the three and nine months ended September 30, 2013, diluted earnings per share includes the effect of common shares issuable upon conversion of the Company’s convertible senior notes due 2017. During the periods, the notes were convertible at a conversion price equivalent to approximately $31.56 per share of the Company’s common stock as a result of the conditions of the notes. As a result, the amount in excess of the principal is presumed to be settled in common shares and is reflected in the calculation of diluted earnings per share. However, as described in Note 11, “Debt—Convertible Senior Notes—2017 Convertible Senior Notes,” the convertible note hedge transactions and warrant transactions entered into in connection with the notes have the effect of increasing the effective conversion price of those notes to $44.1875 per share. For the three and nine months ended September 30, 2012, the Company’s convertible senior notes were not convertible at a premium and thus the impact of an assumed conversion was not applicable. In conjunction with the issuance of convertible senior notes due 2017, the Company sold warrants to purchase approximately 3.6 million shares of its common stock. As of September 30, 2013, all of these warrants were outstanding but were not included in the computation of diluted earnings per share because the warrants’ exercise price of $44.1875 was greater than the average share price of the Company’s common stock during the three and nine months ended September 30, 2013; therefore, the effect of the warrants was anti-dilutive for those periods. |
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| Fair Value Measurements | Note 5: Fair Value Measurements The authoritative guidance for fair value measurements defines fair value as the price that would be received upon sale of an asset or the price paid to transfer a liability, in an orderly transaction between market participants at the measurement date (i.e., the “exit price”). The guidance utilizes a fair value hierarchy that prioritizes the inputs used in valuation techniques to measure fair value into three broad levels. The following is a brief description of each level:
Financial Instruments Required To Be Carried At Fair Value Financial assets and liabilities measured at fair value on a recurring basis are summarized below (in thousands):
Derivative Contracts: The Company uses derivative instruments to minimize its exposure to fluctuations in interest rates and foreign currency exchange rates. The Company’s derivative instruments primarily include interest rate swap agreements and foreign currency exchange contracts. Fair values of these derivative instruments are estimated using industry standard valuation models. These models project future cash flows and discount the future amounts to a present value using market-based observable inputs, including interest rate curves, foreign currency exchange rates, and forward and spot prices for currencies. Redeemable Noncontrolling Interests: As discussed in Note 3, “Business Combinations,” the minority shareholder in the Company’s Janus Holdings subsidiary, J.C. Flowers, has the right, at certain times, to offer to sell its interest in Janus Holdings to the Company. The Company would then have the right, but not the obligation, to acquire J.C. Flowers’ interest at the offered price, or allow J.C. Flowers to offer Janus Holdings for sale to others. The noncontrolling interests subject to this arrangement are included in temporary equity as redeemable noncontrolling interests, and are adjusted to their estimated redemption amounts each reporting period with a corresponding adjustment to additional paid-in capital. Future reductions in the carrying amounts are subject to a “floor” amount that is equal to the fair value of the redeemable noncontrolling interests at the time they were originally recorded. The recorded value of the redeemable noncontrolling interests cannot go below the floor level. These adjustments will not affect the calculation of earnings per share. There is no change in fair value of the redeemable noncontrolling interests for the three months ended September 30, 2013. The components of the change in the redeemable noncontrolling interests for the periods ended September 30, 2013 are presented in the following table:
Financial Instruments Not Required To Be Carried At Fair Value Investment in Receivable Portfolios: The Company records its investment in receivable portfolios at cost, which represents a significant discount from the contractual receivable balances due. The Company computes the fair value of its investment in receivable portfolios by discounting the estimated future cash flows generated by its proprietary forecasting models, using an estimated market participant cost to collect of approximately 50.3% and a discount rate of approximately 12.0% for United States portfolios and an estimated market participant cost to collect of approximately 29.7% and a discount rate of approximately 18.2% for United Kingdom portfolios. Using this method, the fair value of investment in receivable portfolios approximates book value as of September 30, 2013 and December 31, 2012, respectively. A 100 basis point fluctuation in the cost to collect and discount rate used would result in an increase or decrease in the fair value by approximately $37.9 million and $18.3 million, respectively, as of September 30, 2013. This fair value calculation does not represent, and should not be construed to represent, the underlying value of the Company or the amount which could be realized if its investment in receivable portfolios were sold. The carrying value of the investment in receivable portfolios was $1.6 billion and $873.1 million as of September 30, 2013 and December 31, 2012, respectively. Deferred Court Costs: The Company capitalizes deferred court costs and provides a reserve for those costs that it believes will ultimately be uncollectible. The carrying value of net deferred court costs approximates fair value. Receivables Secured By Property Tax Liens: The fair value of receivables secured by property tax liens is estimated as follows: for TLT receivables, the fair value is estimated by discounting the future cash flows of the portfolio using a discount rate equivalent to the current rate at which similar portfolios would be originated and; for TLC receivables, the fair value is estimated by discounting the expected future cash flows of the portfolio using a discount rate equivalent to the interest rate expected when acquiring these certificates. The carrying value of receivables secured by property tax liens approximates fair value. Additionally, the carrying value of the related interest receivable also approximates fair value. Debt: Encore’s senior secured notes and borrowings under its revolving credit and term loan facilities are carried at historical amount, adjusted for additional borrowings less principal repayments, which approximate fair value. Encore’s convertible senior notes are carried at historical cost, adjusted for the debt discount. The carrying value of the convertible senior notes was $287.5 million, net of debt discount of $43.8 million, and $115.0 million, net of debt discount of $14.4 million as of September 30, 2013 and December 31, 2012, respectively. The fair value estimate for these convertible senior notes incorporates quoted market prices, which was approximately $384.7 million and $128.3 million as of September 30, 2013 and December 31, 2012, respectively. Cabot’s senior secured notes due 2019 are carried at the fair value determined at the time of the Cabot Acquisition. Cabot’s senior secured notes due 2020 are carried at historical cost. The carrying values of both the Cabot senior secured notes approximate their respective fair values. Cabot’s senior revolving credit facility is carried at historical costs, adjusted for additional borrowings less principal repayments, which approximate fair value. The Company’s preferred equity certificates are legal obligations to the noncontrolling shareholders at its Janus Holdings and Cabot Holdings subsidiaries. They are carried at the face amount, plus any accrued interest. The Company determined, at the time of the Cabot Acquisition and at September 30, 2013, that the carrying value of these preferred equity certificates approximates fair value. |
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The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Derivatives and Hedging Instruments
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Sep. 30, 2013
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| Derivative Instruments And Hedging Activities Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Derivatives and Hedging Instruments | Note 6: Derivatives and Hedging Instruments The Company uses derivative instruments to manage risks related to interest rates and foreign currency. The Company’s outstanding interest rate swap contracts and foreign currency exchange contracts qualify for hedge accounting treatment under the authoritative guidance for derivatives and hedging. The Company’s Cabot subsidiary also holds an interest rate cap that is used to manage its risk related to interest rate fluctuations. The Company does not apply hedge accounting on the interest rate cap contract. The impact of the interest rate cap contract to the Company’s consolidated financial statements for the three months ended September 30, 2013, was immaterial. Interest Rate Swaps The Company may periodically enter into derivative financial instruments, typically interest rate swap agreements, to reduce its exposure to fluctuations in interest rates on variable interest rate debt and their impact on earnings and cash flows. As of September 30, 2013, the Company had three interest rate swap agreements outstanding with a total notional amount of $75.0 million. Under the swap agreements, the Company receives floating interest rate payments based on one-month reserve-adjusted LIBOR and makes interest payments based on fixed interest rates. The Company intends to continue electing the one-month reserve-adjusted LIBOR as the benchmark interest rate on the debt being hedged through its term. No credit spread was hedged. The Company designates its interest rate swap instruments as cash flow hedges. The authoritative accounting guidance requires companies to recognize derivative instruments as either an asset or liability measured at fair value in the statement of financial position. The effective portion of the change in fair value of the derivative instrument is recorded in other comprehensive income (“OCI”). The ineffective portion of the change in fair value of the derivative instrument, if any, is recognized in interest expense in the period of change. From the inception of the hedging program, the Company has determined that the hedging instruments are highly effective.
Foreign Currency Exchange Contracts The Company has operations in India, which exposes the Company to foreign currency exchange rate fluctuations due to transactions denominated in Indian rupees, such as employee salaries and rent expenditures. To mitigate this risk, the Company enters into derivative financial instruments, principally forward contracts, which are designated as cash flow hedges, to mitigate fluctuations in the cash payments of future forecasted transactions in Indian rupees for up to 36 months. The Company adjusts the level and use of derivatives as soon as practicable after learning that an exposure has changed and reviews all exposures and derivative positions on an ongoing basis. Gains and losses on cash flow hedges are recorded in OCI until the hedged transaction is recorded in the consolidated financial statements. Once the underlying transaction is recorded in the consolidated financial statements, the Company reclassifies the OCI on the derivative into earnings. If all or a portion of the forecasted transaction is cancelled, this would render all or a portion of the cash flow hedge ineffective and the Company would reclassify the ineffective portion of the hedge into earnings. The Company generally does not experience ineffectiveness of the hedge relationship and the accompanying consolidated financial statements do not include any such gains or losses. As of September 30, 2013, the total notional amount of the forward contracts to buy Indian rupees in exchange for United States dollars was $52.8 million. As of September 30, 2013, all outstanding contracts qualified for hedge accounting treatment. The Company estimates that approximately $2.2 million of net derivative loss included in OCI will be reclassified into earnings within the next 12 months. No gains or losses were reclassified from OCI into earnings as a result of forecasted transactions that failed to occur during the three and nine months ended September 30, 2013 and 2012. The Company may periodically enter into other foreign currency exchange contracts to mitigate its risk that cash flows and earnings will be adversely affected by foreign currency exchange rate fluctuations. In anticipation of the Cabot Acquisition, on June 7, 2013, the Company entered into a European style zero-cost collar foreign exchange contract with a notional amount of £132.1 million (approximately $206.0 million), which was equal to the anticipated purchase price for the Cabot Acquisition. The collar was set to expire on August 13, 2013, which was the anticipated date of closing of the Cabot Acquisition. The collar was used to offset the risk of changes in the foreign exchange rate relating to the purchase price for the Company’s interest in Janus Holdings. The Company did not apply hedge accounting on this foreign exchange contract. Due to the early closing of the Cabot Acquisition, the foreign exchange contract was terminated on June 28, 2013 at a loss of $3.6 million, which was recorded as other expenses in the Company’s condensed consolidated statements of income in the second quarter of 2013 and is included in the nine months ended September 30, 2013. This foreign exchange loss was offset by a decrease in the estimated purchase price for Cabot of approximately $4.3 million. The Company does not enter into derivative instruments for trading or speculative purposes. The following table summarizes the fair value of derivative instruments as recorded in the Company’s condensed consolidated statements of financial condition (in thousands):
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The entire disclosure for derivative instruments and hedging activities including, but not limited to, risk management strategies, non-hedging derivative instruments, assets, liabilities, revenue and expenses, and methodologies and assumptions used in determining the amounts. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Investment in Receivable Portfolios, Net
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Sep. 30, 2013
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| Investment in Receivable Portfolios, Net | Note 7: Investment in Receivable Portfolios, Net In accordance with the authoritative guidance for loans and debt securities acquired with deteriorated credit quality, discrete receivable portfolio purchases during a quarter are aggregated into pools based on common risk characteristics. Once a static pool is established, the portfolios are permanently assigned to the pool. The discount (i.e., the difference between the cost of each static pool and the related aggregate contractual receivable balance) is not recorded because the Company expects to collect a relatively small percentage of each static pool’s contractual receivable balance. As a result, receivable portfolios are recorded at cost at the time of acquisition. The purchase cost of the portfolios includes certain fees paid to third parties incurred in connection with the direct acquisition of the receivable portfolios. In compliance with the authoritative guidance, the Company accounts for its investments in receivable portfolios using either the interest method or the cost recovery method. The interest method applies an internal rate of return (“IRR”) to the cost basis of the pool, which remains unchanged throughout the life of the pool, unless there is an increase in subsequent expected cash flows. Subsequent increases in expected cash flows are generally recognized prospectively through an upward adjustment of the pool’s IRR over its remaining life. Subsequent decreases in expected cash flows do not change the IRR, but are recognized as an allowance to the cost basis of the pool, and are reflected in the consolidated statements of comprehensive income as a reduction in revenue, with a corresponding valuation allowance, offsetting the investment in receivable portfolios in the consolidated statements of financial condition. The Company utilizes its proprietary forecasting models to continuously evaluate the economic life of each pool. The collection forecast of each pool is generally estimated to be between 84 to 96 months based on the expected collection period of each pool (up to 120 months for Cabot’s semi-performing pools). The Company often experiences collections beyond the 84 to 96 month collection forecast. As of September 30, 2013, the total estimated remaining collections beyond the 84 to 96 month collection forecast, which are not included in the calculation of the Company’s IRRs, were $142.6 million. The collection forecast estimates for Cabot include a 120 month collection period which is included in its estimated remaining collections and is used for calculating its IRRs. The Company accounts for each static pool as a unit for the economic life of the pool (similar to one loan) for recognition of revenue from receivable portfolios, for collections applied to the cost basis of receivable portfolios, and for provision for loss or allowance. Revenue from receivable portfolios is accrued based on each pool’s IRR applied to each pool’s adjusted cost basis. The cost basis of each pool is increased by revenue earned and decreased by gross collections and portfolio allowances. If the amount and timing of future cash collections on a pool of receivables are not reasonably estimable, the Company accounts for such portfolios on the cost recovery method as Cost Recovery Portfolios. The accounts in these portfolios have different risk characteristics than those included in other portfolios acquired during the same quarter, or the necessary information was not available to estimate future cash flows and, accordingly, they were not aggregated with other portfolios. Under the cost recovery method of accounting, no income is recognized until the purchase price of a Cost Recovery Portfolio has been fully recovered. Accretable yield represents the amount of revenue the Company expects to generate over the remaining life of its existing investment in receivable portfolios based on estimated future cash flows. Total accretable yield is the difference between future estimated collections and the current carrying value of a portfolio. All estimated cash flows on portfolios where the cost basis has been fully recovered are classified as zero basis cash flows. The following table summarizes the Company’s accretable yield and an estimate of zero basis future cash flows at the beginning and end of the period presented (in thousands):
During the three months ended September 30, 2013, the Company purchased receivable portfolios with a face value of $13.4 billion for $617.9 million, or a purchase cost of 4.6% of face value. Purchases of charged-off credit card, telecom and consumer bankruptcy portfolios include $559.0 million of portfolios acquired in conjunction with the Cabot Acquisition. The estimated future collections at acquisition for all portfolios purchased during the quarter amounted to $1.5 billion. During the nine months ended September 30, 2013, the Company purchased receivable portfolios with a face value of $83.9 billion for $1.1 billion, or a purchase cost of 1.3% of face value. Purchases of charged-off credit card, telecom and consumer bankruptcy portfolios include $559.0 million of portfolios acquired in conjunction with the Cabot Acquisition and $381.2 million acquired in conjunction with the AACC Merger. The lower purchase rate for the nine months ended September 30, 2013 is due to the portfolio acquired in conjunction with the AACC Merger, which included all portfolios owned, including accounts that have no value and which the Company has no intention to collect. No-value accounts would typically not be included in a portfolio purchase transaction, as the sellers would remove them from the sale file. The estimated future collections at acquisition for all portfolios purchased during the nine months ended September 30, 2013, amounted to $2.6 billion. During the three months ended September 30, 2012, the Company purchased receivable portfolios with a face value of $1.1 billion for $47.3 million, or a purchase cost of 4.5% of face value. The estimated future collections at acquisition for these portfolios amounted to $80.4 million. During the nine months ended September 30, 2012, the Company purchased receivable portfolios with a face value of $10.0 billion for $408.8 million, or a purchase cost of 4.1% of face value. The estimated future collections at acquisition for these portfolios amounted to $717.3 million. All collections realized after the net book value of a portfolio has been fully recovered (“Zero Basis Portfolios”) are recorded as revenue (“Zero Basis Revenue”). During the three months ended September 30, 2013 and 2012, Zero Basis Revenue was approximately $4.2 million and $5.5 million, respectively. During the nine months ended September 30, 2013 and 2012, Zero Basis Revenue was approximately $13.6 million and $17.6 million, respectively. The following tables summarize the changes in the balance of the investment in receivable portfolios during the following periods (in thousands, except percentages):
The following table summarizes the change in the valuation allowance for investment in receivable portfolios during the periods presented (in thousands):
The Company currently utilizes various business channels for the collection of its receivables. The following table summarizes the total collections by collection channel and geographic area (in thousands):
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The entire disclosure for claims held for amounts due a entity, excluding financing receivables. Examples include, but are not limited to, trade accounts receivables, notes receivables, loans receivables. Includes disclosure for allowance for credit losses. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Receivables Secured by Property Tax Liens, Net
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| Receivables Secured by Property Tax Liens, Net | Note 8: Receivables Secured by Property Tax Liens, Net The Company’s receivables secured by property tax liens include TLTs and TLCs. Repayment of the tax liens is generally dependent on the property owner but can also come through payments from other lien holders or foreclosure on the properties. The Company evaluates the entire portfolio of tax liens for impairment. The primary factor the Company uses to evaluate each receivable is the lien to value ratio, which is typically less than 15% and rarely exceeds 25%. The Company has not experienced any losses on receivables secured by property tax liens in its portfolio. In addition, management believes, based on the fact that the tax liens that collateralize the TLTs and TLCs are in a priority position over most other liens on the properties, that it will not experience any material losses on the ultimate collection of these receivables. Therefore, no allowance has been provided for as of September 30, 2013. The following table presents the Company’s aging analysis of receivables secured by tax liens as of September 30, 2013 and December 31, 2012 (in thousands):
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Property tax payment agreements receivable, net. No definition available.
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Deferred Court Costs, Net
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| Deferred Court Costs, Net | Note 9: Deferred Court Costs, Net Within the United States, the Company contracts with a nationwide network of attorneys that specialize in collection matters. The Company generally refers charged-off accounts to its contracted attorneys when it believes the related consumer has sufficient assets to repay the indebtedness and has, to date, been unwilling to pay. In connection with the Company’s agreement with the contracted attorneys, it advances certain out-of-pocket court costs (“Deferred Court Costs”). The Company capitalizes Deferred Court Costs in its consolidated financial statements and provides a reserve for those costs that it believes will ultimately be uncollectible. The Company determines the reserve based on its analysis of court costs that have been advanced and those that have been recovered. Historically, the Company wrote off Deferred Court Costs not recovered within three years of placement. However, as a result of a history of court cost recoveries beyond three years, the Company has determined that court costs are recovered over a longer period of time. As a result, in January 2013, on a prospective basis, the Company began increasing its deferral period from three years to five years. Collections received from these debtors are first applied against related court costs with the balance applied to the debtors’ account. Deferred Court Costs consist of the following as of the dates presented (in thousands):
A roll forward of the Company’s court cost reserve is as follows (in thousands):
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Deferred court costs. No definition available.
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| Other Assets | Note 10: Other Assets Other assets consist of the following (in thousands):
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The entire disclosure for other assets. This disclosure includes other current assets and other noncurrent assets. No definition available.
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| Debt | Note 11: Debt The Company is in compliance with all covenants under its financing arrangements. The components of the Company’s consolidated debt and capital lease obligations are as follows (in thousands):
Encore Revolving Credit Facility and Term Loan Facility Encore’s Amended and Restated Credit Agreement (the “Restated Credit Agreement”) includes a term loan facility tranche of $150.0 million, a six-month term loan facility tranche of $48.6 million, a revolving credit facility tranche of $613.9 million and an accordion feature that would allow the Company to increase the revolving credit facility by an additional $162.5 million. Including the accordion feature, the maximum amount that can be borrowed under the Restated Credit Agreement is $975.0 million. The term loan facility and the revolving credit facility have five-year maturities expiring in November 2017, except with respect to a $50.0 million subtranche of the term loan facility, which has a three-year maturity, expiring in November 2015. The $48.6 million six-month term loan facility tranche matures in November 2013. The Restated Credit Agreement includes several financial institutions and lenders and is led by an administrative agent.
The Restated Credit Agreement includes a basket to allow for investments in unrestricted subsidiaries and a subordinated debt basket of $300.0 million, among other things. Provisions of the Restated Credit Agreement include, but are not limited to:
At September 30, 2013, the outstanding balance under the Restated Credit Agreement was $509.8 million, which bore a weighted average interest rate of 3.07% and 4.16% for the three months ended September 30, 2013 and 2012, respectively, and a weighted average interest rate of 3.13% and 4.13% for the nine months ended September 30, 2013 and 2012, respectively. Encore Senior Secured Notes In 2010 and 2011, Encore entered into an aggregate of $75.0 million in senior secured notes with certain affiliates of Prudential Capital Group (the “Senior Secured Notes”). $25.0 million of the Senior Secured Notes bear an annual interest rate of 7.375%, mature in 2018 and require quarterly principal amortization payments of $1.25 million. Prior to May 2013, these notes required quarterly payments of interest only. Prior to May 2013, these notes required quarterly interest payments only. The remaining $50.0 million of Senior Secured Notes bear an annual interest rate of 7.75%, mature in 2017 and require quarterly principal amortization payments of $2.5 million. Prior to December 2012, these notes required quarterly interest payments only. As of September 30, 2013, $62.5 million is outstanding under these obligations. The Senior Secured Notes are guaranteed in full by certain of Encore’s subsidiaries. Similar to, and pari passu with, Encore’s credit facility, the Senior Secured Notes are also collateralized by all assets of the Company other than the assets of the Propel entities and any foreign and unrestricted subsidiaries including Janus Holdings. The Senior Secured Notes may be accelerated and become automatically and immediately due and payable upon certain events of default, including certain events related to insolvency, bankruptcy, or liquidation. Additionally, the Senior Secured Notes may be accelerated at the election of the holder or holders of a majority in principal amount of the Senior Secured Notes upon certain events of default by Encore, including the breach of affirmative covenants regarding guarantors, collateral, most favored lender treatment, minimum revolving credit facility commitment or the breach of any negative covenant. If Encore prepays the Senior Secured Notes at any time for any reason, payment will be at the higher of par or the present value of the remaining scheduled payments of principal and interest on the portion being prepaid. The discount rate used to determine the present value is 50 basis points over the then current Treasury Rate corresponding to the remaining average life of the senior secured notes. The covenants are substantially similar to those in the Restated Credit Agreement. Prudential Capital Group and the administrative agent for the lenders of the Restated Credit Agreement have an intercreditor agreement related to their pro rata rights to the collateral, actionable default, powers and duties and remedies, among other topics. The terms of the Senior Secured Notes were amended and restated on May 9, 2013 in connection with the Restated Credit Agreement in order to properly align certain provisions between the two agreements. Encore Convertible Senior Notes 2017 Convertible Senior Notes On November 27, 2012, Encore sold $100.0 million in aggregate principal amount of 3.0% convertible senior notes due November 27, 2017 in a private placement transaction. On December 6, 2012, the initial purchasers exercised, in full, their option to purchase an additional $15.0 million of the convertible senior notes, which resulted in an aggregate principal amount of $115.0 million of the convertible senior notes outstanding (collectively, the “2017 Convertible Notes”). Interest on the 2017 Convertible Notes is payable semi-annually, in arrears, on May 27 and November 27 of each year, beginning on May 27, 2013. The 2017 Convertible Notes are the Company’s general unsecured obligations. The 2017 Convertible Notes will be convertible into cash up to the aggregate principal amount of the 2017 Convertible Notes to be converted and the Company will pay or deliver, as the case may be, cash, shares of the Company’s common stock or a combination of cash and shares of the Company’s common stock, at the Company’s election, in respect of the remainder, if any, of the Company’s conversion obligation in excess of the aggregate principal amount of the 2017 Convertible Notes being converted. The 2017 Convertible Notes will be convertible at an initial conversion rate of 31.6832 shares of the Company’s common stock per $1,000 principal amount of 2017 Convertible Notes, subject to adjustment upon certain events, which is equivalent to an initial conversion price of approximately $31.56 per share of the Company’s common stock. As of September 30, 2013, none of the conditions allowing holders of the 2017 Convertible Notes to convert their notes had occurred. In accordance with authoritative guidance related to derivatives and hedging and earnings per share calculation, only the conversion spread of the 2017 Convertible Notes is included in the diluted earnings per share calculation, if dilutive. Under such method, the settlement of the conversion spread has a dilutive effect when the average share price of the Company’s common stock during any quarter exceeds $31.56. The average share price of the Company’s common stock for the three and nine months ended September 30, 2013 exceeded $31.56. The dilutive effect from the 2017 Convertible Notes was approximately 0.8 million and 0.3 million shares for the three and nine months ended September 30, 2013, respectively. See Note 4, “Earnings per Share” for additional information. Concurrent with the pricing of the 2017 Convertible Notes, the Company entered into privately negotiated convertible note hedge transactions (together, the “Convertible Note Hedge Transactions”) with certain counterparties. The Convertible Note Hedge Transactions collectively cover, subject to customary anti-dilution adjustments, the number of shares of the Company’s common stock underlying the 2017 Convertible Notes, as described below. Concurrently with entering into the Convertible Note Hedge Transactions, the Company also entered into separate, privately negotiated warrant transactions (together, the “Warrant Transactions”) with the same counterparties, whereby the Company sold to the counterparties warrants to purchase, collectively, subject to customary anti-dilution adjustments, up to the same number of shares of the Company’s common stock as in the Convertible Note Hedge Transactions. Subject to certain conditions, the Company may settle the warrants in cash or on a net-share basis. The Convertible Note Hedge Transactions are expected generally to reduce the potential dilution and/or offset the potential cash payments the Company is required to make in excess of the principal amount upon conversion of the 2017 Convertible Notes in the event that the market price per share of the Company’s common stock, is greater than the strike price of the Convertible Note Hedge Transactions, which initially corresponds to the conversion price of the 2017 Convertible Notes and is subject to anti-dilution adjustments. If, however, the market price per share of the Company’s common stock, as measured under the terms of the Warrant Transactions, exceeds the strike price of the warrants, there would nevertheless be dilution to the extent that such market price exceeds the strike price of the warrants, unless the Company elects, subject to certain conditions, to settle the Warrant Transactions in cash. The strike price of the Warrant Transactions will initially be $44.1875 per share of the Company’s common stock and is subject to certain adjustments under the terms of the Warrant Transactions. Taken together, the Convertible Note Hedge Transactions and the Warrant Transactions have the effect of increasing the effective conversion price of the 2017 Convertible Notes to $44.1875 per share. The average share price of the Company’s common stock for the three months ended September 30, 2013 did not exceed $44.1875. The Convertible Note Hedge Transactions and the Warrant Transactions are separate transactions, in each case, entered into by the Company with certain counterparties, and are not part of the terms of the 2017 Convertible Notes and will not affect any holder’s rights under the 2017 Convertible Notes. Holders of the 2017 Convertible Notes will not have any rights with respect to the Convertible Note Hedge Transactions or the Warrant Transactions. In accordance with authoritative guidance, the Company recorded the net cost of the Convertible Note Hedge Transactions and the Warrant Transactions as a reduction in additional paid in capital, and will not recognize subsequent changes in fair value of these financial instruments in its consolidated financial statements. 2020 Convertible Senior Notes On June 24, 2013, Encore sold $150.0 million in aggregate principal amount of 3.0% convertible senior notes due July 1, 2020 in a private placement transaction. On July 18, 2013, the initial purchasers exercised, in full, their option to purchase an additional $22.5 million of the convertible senior notes, which resulted in an aggregate principal amount of $172.5 million of the convertible senior notes outstanding (collectively, the “2020 Convertible Notes”). The 2020 Convertible Notes are general unsecured obligations of the Company. Interest on the 2020 Convertible Notes is payable semi-annually, in arrears, on January 1 and July 1 of each year, beginning on January 1, 2014. Prior to January 1, 2020, the 2020 Convertible Notes will be convertible only during specified periods, if certain conditions are met. On or after January 1, 2020, the 2020 Convertible Notes will be convertible regardless of these conditions. Upon conversion, holders will receive cash, shares of the Company’s common stock or a combination of cash and shares of the Company’s common stock, at the Company’s election. The conversion rate for the 2020 Convertible Notes is 21.8718 shares per $1,000 principal amount, which is equivalent to an initial conversion price of approximately $45.72 per share of common stock. As of September 30, 2013, none of the conditions allowing holders of the 2020 Convertible Notes to convert their notes had occurred. As noted above, upon conversion, holders of the Company’s 2020 Convertible Notes will receive cash, shares of the Company’s common stock or a combination of cash and shares of the Company’s common stock, at the Company’s election. However, the Company’s current intent is to settle conversions through combination settlement (i.e., convertible into cash up to the aggregate principal amount, and shares of the Company’s common stock or a combination of cash and shares of the Company’s common stock, at the Company’s election, for the remainder). As a result and in accordance with authoritative guidance related to derivatives and hedging and earnings per share, only the conversion spread is included in the diluted earnings per share calculation, if dilutive. Under such method, the settlement of the conversion spread has a dilutive effect when the average share price of the Company’s common stock during any quarter exceeds $45.72. In connection with the pricing of the 2020 Convertible Notes, the Company entered into privately negotiated capped call transactions (the “Capped Call Transactions”) with one or more of the initial purchasers (or their affiliates) and one or more other financial institutions (the “Option Counterparties”). The Capped Call Transactions cover, collectively, the number of shares of the Company’s common stock underlying the 2020 Convertible Notes, subject to anti-dilution adjustments substantially similar to those applicable to the 2020 Convertible Notes. The cost of the Capped Call Transactions was approximately $18.1 million. In accordance with authoritative guidance, the Company recorded the net cost of the Capped Call Transactions as a reduction in additional paid in capital, and will not recognize subsequent changes in fair value of these financial instruments in its consolidated financial statements. The Capped Call Transactions are expected generally to reduce the potential dilution and/or offset the cash payments the Company is required to make in excess of the principal amount upon conversion of the 2020 Convertible Notes in the event that the market price of the Company’s common stock is greater than the strike price of the Capped Call Transactions (which initially corresponds to the initial conversion price of the 2020 Convertible Notes and is subject to certain adjustments under the terms of the Capped Call Transactions), with such reduction and/or offset subject to a cap based on the cap price of the Capped Call Transactions. The cap price of the Capped Call Transactions is $61.5475 per share, and is subject to certain adjustments under the terms of the Capped Call Transactions. The Capped Call Transactions are separate transactions, in each case, entered into by the Company with the Option Counterparties, and are not part of the terms of the 2020 Convertible Notes and will not affect any holder’s rights under the 2020 Convertible Notes. Holders of the 2020 Convertible Notes do not have any rights with respect to the Capped Call Transactions. The net proceeds from the sale of the 2020 Convertible Notes were approximately $167.4 million, after deducting the initial purchasers’ discounts and commissions and the estimated offering expenses paid by the Company. The Company used approximately $18.1 million of the net proceeds from this offering to pay the cost of the Capped Call Transactions and used the remainder of the net proceeds from this offering to pay a portion of the purchase price for the Cabot Acquisition and for general corporate purposes. The Company determined that the fair value of the 2020 Convertible Notes at the date of issuance was approximately $140.2 million, and designated the residual value of approximately $32.3 million as the equity component. Additionally, the Company allocated approximately $4.9 million of the $6.0 million original 2020 Convertible Notes issuance cost as debt issuance costs and the remaining $1.1 million as equity issuance costs.
Authoritative guidance related to debt with conversion and other options requires that, for convertible debt instruments that may be settled fully or partially in cash upon conversion, issuers must separately account for the liability and equity components in a manner that will reflect the entity’s nonconvertible debt borrowing rate when interest cost is recognized in subsequent periods. Additionally, debt issuance costs are required to be allocated in proportion to the allocation of the liability and equity components and accounted for as debt issuance costs and equity issuance costs, respectively. The balances of the liability and equity components of all of the convertible notes outstanding were as follows (in thousands):
The debt discount is being amortized into interest expense over the remaining life of the convertible notes using the effective interest rates, which are 6.0 % and 6.35% for the 2017 and 2020 Convertible Notes, respectively. Interest expense related to the convertible notes was as follows (in thousands):
Propel Tax Lien Transfer Facility Propel has a $160.0 million syndicated loan facility (the “Propel TLT Facility”). The Propel TLT Facility has a three-year term and includes the following key provisions:
The Propel TLT Facility is primarily collateralized by the TLT tax liens and requires Propel to maintain various financial covenants, including a minimum interest coverage ratio and a maximum cash flow leverage ratio. At September 30, 2013, the outstanding balance on the Propel TLT Facility was $131.3 million, which bore a weighted average interest rate of 3.64% and 3.54% for the three months ended September 30, 2013 and 2012, respectively, and a weighted average interest rate of 3.52% and 3.56% for the nine months ended September 30, 2013 and 2012, respectively. Propel Tax Lien Certificate Facility On May 9, 2013, the Company, through subsidiaries of Propel, entered into a $100.0 million revolving credit facility (the “Propel TLC Facility”). The Propel TLC Facility is used to purchase TLCs from taxing authorities. The Propel TLC Facility has a four-year term and includes the following key provisions:
The Propel TLC Facility is collateralized by the TLCs acquired under the Propel TLC Facility. At September 30, 2013, the outstanding balance on the Propel TLC Facility was $27.0 million and, for the three and nine months ended September 30, 2013, bore a weighted average interest rate of 5.34% and 5.11%, respectively. Cabot Senior Secured Notes On September 20, 2012, Cabot Financial (Luxembourg) S.A. (“Cabot Financial”), an indirect subsidiary of Janus Holdings, issued £265.0 million in aggregate principal amount of 10.375% Senior Secured Notes due 2019 (the “Cabot 2019 Notes”). Interest on the Cabot 2019 Notes is payable semi-annually, in arrears, on April 1 and October 1 of each year. On August 2, 2013, Cabot Financial issued £100 million in aggregate principal amount of 8.375% Senior Secured Notes due 2020 (the “Cabot 2020 Notes” and, together with the Cabot 2019 Notes, the “Cabot Notes”). Interest on the Cabot 2020 Notes is payable semi-annually, in arrears, on February 1 and August 1 of each year, beginning on February 1, 2014. The total debt issuance cost associated with the Cabot 2020 Notes was approximately $4.9 million. Of the proceeds from the issuance of the Cabot 2020 Notes, approximately £75 million was used to repay all amounts outstanding under the senior credit facilities of Cabot Financial (UK) Limited (“Cabot Financial UK”), an indirect subsidiary of Janus Holdings, £25 million was used to partially repay a portion of the J Bridge PECs (as anticipated in the Purchase Agreement discussed in Note 3, “Business Combinations”) to J.C. Flowers. The Cabot Notes are fully and unconditionally guaranteed by the following indirect subsidiaries of the Company: Cabot, Cabot Financial Limited, and all material subsidiaries of Cabot Financial Limited (other than Cabot Financial). The Cabot Notes are secured by a first ranking security interest in all the outstanding shares of Cabot Financial and the guarantors (other than Cabot) and substantially all the assets of Cabot Financial and the guarantors (other than Cabot). Interest expense related to the Cabot Notes was as follows (in thousands):
Cabot Senior Revolving Credit Facility On September 20, 2012, Cabot Financial UK entered into an agreement for a senior committed revolving credit facility of £50.0 million (the “Cabot Credit Agreement”). This agreement was amended and restated on June 28, 2013 to increase the size of the revolving credit facility to £85.0 million (the “Cabot Credit Facility”). The Cabot Credit Facility has a five-year term expiring in September 2017, and includes the following key provisions:
The Cabot Credit Facility is unconditionally guaranteed by the following indirect subsidiaries of the Company: Cabot, Cabot Financial Limited, and all material subsidiaries of Cabot Financial Limited. The Cabot Notes are secured by a first ranking security interest in all the outstanding shares of Cabot Financial UK and the guarantors (other than Cabot) and substantially all the assets of Cabot Financial UK and the guarantors (other than Cabot). At September 30, 2013, there were no outstanding borrowings under the Cabot Credit Facility. Preferred Equity Certificates As discussed in Note 3, “Business Combinations,” on July 1, 2013, the Company, through Encore Europe, completed the Cabot Acquisition by acquiring E Bridge PECs, E PECs, and E Shares that represent 50.1% of all of the issued and outstanding equity and debt securities of Janus Holdings. The remaining 49.9% of Janus Holdings’ equity and debt securities constitute J Bridge PECs, J PECs, and J shares owned by J.C. Flowers. All of the PECs accrue interest at 12% per annum. In accordance with authoritative guidance related to debt and equity securities, the J Bridge PECs, J PECs and any accrued interests thereof are classified as liabilities and are included in debt in the Company’s accompanying condensed consolidated statements of financial condition. In addition, certain other minority owners hold PECs at the Cabot Holdings level (the “Management PECs”). These PECs are also included in debt in the Company’s accompanying condensed consolidated statements of financial condition. The E Bridge PECs and E PECs held by the Company, and their related interest eliminate in consolidation and therefore are not included in debt. As noted above, the J Bridge PECs, J PECs and Management PECs are included in debt in the Company’s accompanying condensed consolidated statements of financial condition. However, as these liabilities are held by the noncontrolling interest holders and do not require the payment of cash interest expense, they have characteristics similar to equity with a preferred return. The ultimate payment of the accumulated interest would be satisfied only in connection with the disposition of the noncontrolling interests of J.C. Flowers and management. The Company determined, at the time of the Cabot Acquisition, that the fair value of the preferred equity certificates and the respective accrued interests approximated their face value. As anticipated in the Purchase Agreement, and as discussed in Note 3, “Business Combinations,” in August 2013, Cabot made a payment of approximately $41.2 million to J.C. Flowers for a partial redemption of the J Bridge PECs. As of September 30, 2013, the outstanding balance of the PECs and their accrued interests was $190.3 million. Capital Lease Obligations The Company has capital lease obligations primarily for computer equipment. As of September 30, 2013, the Company’s combined obligations for these equipment leases were approximately $6.9 million. These lease obligations require monthly or quarterly payments through May 2018 and have implicit interest rates that range from zero to approximately 7.7%. |
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The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| Variable Interest Entity | Note 12: Variable Interest Entity On July 1, 2013, the Company, through Encore Europe, completed its acquisition of 50.1% of the equity interest in Janus Holdings. See Note 3, “Business Combinations” for more information. The Company has determined that Janus Holdings is a VIE, and the Company is the primary beneficiary of the VIE. As a result, the financial results of Janus Holdings are consolidated under the VIE consolidation model. A VIE is defined as a legal entity whose equity owners do not have sufficient equity at risk, or, as a group, the holders of the equity investment at risk lack any of the following three characteristics: decision-making rights, the obligation to absorb losses, or the right to receive the expected residual returns of the entity. The primary beneficiary is identified as the variable interest holder that has both the power to direct the activities of the VIE that most significantly affect the entity’s economic performance and the obligation to absorb expected losses or the right to receive benefits from the entity that could potentially be significant to the VIE. The key activities that affect Cabot’s economic performance include, but are not limited to, operational budgets and purchasing decisions. Through its control of the board of directors of Cabot’s immediate parent company, the Company controls the key operating activities at Cabot. The Company evaluates its relationships with the VIE on an ongoing basis to ensure that it continues to be the primary beneficiary.
The Company considers that the rights granted to J.C. Flowers under the contractual arrangements are more protective in nature rather than participating rights. The Company does not intend to provide financial support to Janus Holdings. The Company’s consolidated assets as of September 30, 2013 included assets from Janus Holdings that can only be used to settle obligations of Janus Holdings. The Company’s consolidated liabilities as of September 30, 2013, included liabilities of Janus Holdings, whose creditors have no recourse to the Company. The following table presents Janus Holdings’ assets and liabilities (after elimination of intercompany transactions and balances) in the Company’s consolidated statement of financial position as of September 30, 2013 (in thousands):
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| Income Taxes | Note 13: Income Taxes During the three months ended September 30, 2013 and 2012, the Company recorded an income tax provision of $10.3 million and $13.9 million, respectively. During the nine months ended September 30, 2013 and 2012, the Company recorded an income tax provision of $30.1 million and $38.4 million, respectively. The effective tax rates for the respective periods are shown below:
The Company’s subsidiary in Costa Rica is operating under a 100% tax holiday through December 31, 2018 and a 50% tax holiday for the subsequent four years. The impact of the tax holiday in Costa Rica for the three and nine months ended September 30, 2013 and 2012 was immaterial. As of September 30, 2013, the Company had a gross unrecognized tax benefit of $17.6 million that, if recognized, would result in a net tax benefit of approximately $15.3 million and would have a positive effect on the Company’s effective tax rate. During the three and nine months ended September 30, 2013, there was an increase in the gross unrecognized tax benefit of $2.2 million primarily as a result of the Cabot acquisition as discussed in Note 3, “Business Combinations.”
During the three and nine months ended September 30, 2013, the Company did not provide for United States income taxes or foreign withholding taxes on the quarterly undistributed earnings from continuing operations of its subsidiaries operating outside of the United States. Undistributed earnings of these subsidiaries during the three and nine months ended September 30, 2013, were approximately $1.5 million and $4.7 million, respectively. Such undistributed earnings are considered permanently reinvested. |
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The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| Purchase Concentrations | Note 14: Purchase Concentrations The following table summarizes purchases by seller sorted by total aggregate cost (in thousands, except percentages):
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| Commitments and Contingencies | Note 15: Commitments and Contingencies Litigation The Company is involved in disputes and legal actions from time to time in the ordinary course of business. The Company, along with others in its industry, is routinely subject to legal actions in the United States based on the Fair Debt Collection Practices Act (“FDCPA”), comparable state statutes, the Telephone Consumer Protection Act (“TCPA”), state and federal unfair competition statutes, and common law causes of action. The violations of law alleged in these actions often include claims that the Company lacks specified licenses to conduct its business, attempts to collect debts on which the statute of limitations has run, has made inaccurate assertions of fact in support of its collection actions, and/or has acted improperly in connection with its efforts to contact consumers. These cases are frequently styled as supposed class actions. On March 8, 2013, March 19, 2013 and March 20, 2013, three actions entitled Shell v. Asset Acceptance Capital Corp., et. al., Neumann v. Asset Acceptance Capital Corp., et. al., and Jaluka v. Asset Acceptance Capital Corp. et. al., respectively, were filed in the Macomb County Circuit Court of the State of Michigan. On April 19, 2013, a fourth action entitled Dix v. Asset Acceptance Capital Corp. et al was filed in the Court of Chancery of the State of Delaware. These actions were brought by purported stockholders of AACC, against the Company, AACC, and certain other named entities and individuals, and allege, among other things, that the Company has aided and abetted AACC’s directors in breaching their fiduciary duties of care, loyalty and candor or disclosure owed to AACC stockholders. Plaintiffs in the actions sought, among other things, injunctive relief prohibiting consummation of the proposed acquisition, or rescission of the proposed acquisition (in the event the transaction has already been consummated), as well as costs and disbursements, including reasonable attorneys’ and experts’ fees, and other equitable or injunctive relief as the court may deem just and proper. The plaintiffs did not specify the dollar amount of damages sought in each action. On June 2, 2013, AACC entered into a Memorandum of Understanding (the “MOU”) with the plaintiffs in the Michigan actions and Delaware action that sets forth the parties’ agreement in principle for settlement. As explained in the MOU, without admitting any wrongdoing, AACC agreed to make certain additional disclosures related to the proposed merger, and to enter into a stipulation of settlement providing for the certification of a class, for settlement purposes only, that includes certain persons or entities who held shares of AACC common stock and the release of all asserted claims. On September 16, 2013, AACC entered into a stipulation of settlement which sets forth the terms of the MOU. On October 7, 2013, the Michigan court preliminarily approved the stipulation of settlement. Upon final approval by the Michigan court, which has yet to and may not occur, the attorneys for the class members intend to seek an award of attorneys’ fees and costs incurred in a total amount not to exceed $550,000, which the defendants have agreed to not oppose. Except as described above and in the Company’s Quarterly Reports on Form 10-Q for the quarters ended March 31, 2013 and June 30, 2013, there have been no material developments in any of the legal proceedings disclosed in the Company’s Annual Report on Form 10-K for the year ended December 31, 2012. In certain legal proceedings, the Company may have recourse to insurance or third party contractual indemnities to cover all or portions of its litigation expenses, judgments, or settlements. In accordance with authoritative guidance, the Company records loss contingencies in its financial statements only for matters in which losses are probable and can be reasonably estimated. Where a range of loss can be reasonably estimated with no best estimate in the range, the Company records the minimum estimated liability. The Company continuously assesses the potential liability related to the Company’s pending litigation and revises its estimates when additional information becomes available. As of September 30, 2013, the Company has no material reserves for litigation. Additionally, based on the current status of litigation matters, either the estimate of exposure is immaterial to the Company’s financial statements or an estimate cannot yet be determined. The Company’s legal costs are recorded to expense as incurred. Purchase Commitments In the normal course of business, the Company enters into forward flow purchase agreements and other purchase commitment agreements. As of September 30, 2013, the Company has entered into agreements to purchase receivable portfolios with a face value of approximately $562.8 million for a purchase price of approximately $58.5 million. The Company has no purchase commitments beyond December 2014. |
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Sep. 30, 2013
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| Segment Reporting [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Segment Information | Note 16: Segment Information The Company conducts business primarily through two reportable segments: portfolio purchasing and recovery and tax lien business. The Company’s management relies on internal management reporting processes that provide segment revenue, segment operating income, and segment asset information in order to make financial decisions and allocate resources. The operating results from the Company’s tax lien business segment are immaterial to the Company’s total consolidated operating results. However, total assets from the tax lien business segment are significant as compared to the Company’s total consolidated assets. As a result, in accordance with authoritative guidance on segment reporting, the Company’s tax lien business segment is determined to be a reportable segment. Segment operating income includes income from operations before depreciation, amortization of intangible assets, and stock-based compensation expense. The following table provides a reconciliation of revenue and segment operating income by reportable segment to consolidated results and was derived from the segments’ internal financial information as used for corporate management purposes (in thousands):
Additionally, assets are allocated to operating segments for management review. As of September 30, 2013, total segment assets were $2.3 billion and $237.3 million for the portfolio purchasing and recovery segment and tax lien business segment, respectively. The following presents information about geographic areas in which the Company operates (in thousands):
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The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Goodwill and Identifiable Intangible Assets
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Sep. 30, 2013
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| Goodwill And Intangible Assets Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Goodwill and Identifiable Intangible Assets | Note 17: Goodwill and Identifiable Intangible Assets In accordance with authoritative guidance, goodwill is tested at the reporting unit level annually for impairment and in interim periods if certain events occur that indicate the fair value of a reporting unit may be below its carrying value.
As of September 30, 2013, the Company has two reporting units that carry goodwill: portfolio purchasing and recovery and tax lien business. Annual testing is performed as of October 1st for the portfolio purchasing and recovery reporting unit and as of April 1st for the tax lien business reporting unit. The Company’s acquired intangible assets are summarized as follows (in thousands):
The changes in carrying amount of goodwill by reporting unit for the nine months ended September 30, 2013 are as follows (in thousands):
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The entire disclosure for the aggregate amount of goodwill and a description of intangible assets, which may include (a) for amortizable intangible assets (also referred to as finite-lived intangible assets), the carrying amount, the amount of any significant residual value, and the weighted-average amortization period, (b) for intangible assets not subject to amortization (also referred to as indefinite-lived intangible assets), the carrying amount, and (c) the amount of research and development assets acquired and written off in the period, including the line item in the income statement in which the amounts written off are aggregated, if not readily apparent from the income statement. Also discloses (a) for amortizable intangibles assets in total and by major class, the gross carrying amount and accumulated amortization, the total amortization expense for the period, and the estimated aggregate amortization expense for each of the five succeeding fiscal years, (b) for intangible assets not subject to amortization the carrying amount in total and by major class, and (c) for goodwill, in total and for each reportable segment, the changes in the carrying amount of goodwill during the period (including the aggregate amount of goodwill acquired, the aggregate amount of impairment losses recognized, and the amount of goodwill included in the gain (loss) on disposal of a reporting unit). If any part of goodwill has not been allocated to a reportable segment, discloses the unallocated amount and the reasons for not allocating. For each impairment loss recognized related to an intangible asset (excluding goodwill), discloses: (a) a description of the impaired intangible asset and the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method for determining fair value, (c) the caption in the income statement or the statement of activities in which the impairment loss is aggregated, and (d) the segment in which the impaired intangible asset is reported. For each goodwill impairment loss recognized, discloses: (a) a description of the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method of determining the fair value of the associated reporting unit, and (c) if a recognized impairment loss is an estimate not finalized and the reasons why the estimate is not final. May also disclose the nature and amount of any significant adjustments made to a previous estimate of an impairment loss. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Ownership, Description of Business and Summary of Significant Accounting Policies (Policies)
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9 Months Ended |
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Sep. 30, 2013
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| Accounting Policies [Abstract] | |
| Portfolio Purchasing and Recovery | Portfolio Purchasing and Recovery United States. The Company purchases receivable portfolios based on robust, account-level valuation methods and employs a suite of proprietary statistical and behavioral models across the full extent of its operations. These investments allow the Company to value portfolios accurately (and limit the risk of overpaying), avoid buying portfolios that are incompatible with its methods or goals and precisely align the accounts it purchases with its operational channels to maximize future collections. As a result, the Company has been able to realize significant returns from the receivables it acquires. The Company maintains strong relationships with many of the largest credit and telecommunication providers, and possesses one of the industry’s best collection staff retention rates. The Company uses insights discovered during its purchasing process to build account collection strategies. The Company’s proprietary consumer-level collectability analysis is the primary determinant of whether an account will be actively serviced post-purchase. The Company continuously refines this analysis to determine the most effective collection strategy to pursue for each account it owns. After the Company’s preliminary analysis, it seeks to collect on only a fraction of the accounts it purchases, through one or more of its collection channels. The channel identification process is analogous to a funneling system, where the Company first differentiates those consumers who it believes are not able to pay from those who are able to pay. Consumers who the Company believes are financially incapable of making any payments, facing extenuating circumstances or hardships (such as medical issues), serving in the military, or currently receiving social security as their only source of income are excluded from the next step of its collection process and are designated as inactive. The remaining pool of accounts in the funnel then receives further evaluation. At that point, the Company analyzes and determines a consumer’s perceived willingness to pay. Based on that analysis, the Company will pursue collections through letters and/or phone calls to its consumers. Despite its efforts to reach consumers and work out a settlement option, only a small number of consumers who are contacted choose to engage with the Company. Those who do are often offered deep discounts on their obligations, or are presented with payment plans that are better suited to meet their daily cash flow needs. The majority of contacted consumers, however, ignore both the Company’s calls and letters, and therefore the Company must then make the difficult decision whether or not to pursue collections through legal means. The Company continually monitors applicable changes to laws governing statutes of limitations and disclosures to consumers. The Company maintains policies, system controls, and processes designed to ensure that accounts past the applicable statute of limitations do not get placed into legal collections. Additionally, in written and verbal communications with consumers, the Company provides disclosures to the consumer that the account is past its applicable statute of limitations and, therefore, the Company will not pursue collections through legal means. United Kingdom. Through Cabot, portfolio receivables are purchased using a proprietary pricing model. This model allows Cabot to value portfolios with a high degree of accuracy and quantify portfolio performance in order to maximize future collections. As a result, Cabot has been able to realize significant returns from the assets it has acquired. Cabot maintains strong relationships with many of the largest financial service providers in the United Kingdom.
Cabot also uses insights discovered during its purchasing process to build account collection strategies. Cabot’s proprietary consumer-level collectability analysis is the primary determinant of how an account will be serviced post-purchase. Cabot continuously refines this analysis to determine the most effective collection strategy to pursue for each account it owns. In recent years, Cabot has concentrated on buying portfolios that are described as semi-performing in which over 50% of accounts have made a payment in three of the last four months immediately prior to the portfolio purchase. Cabot will try to establish contact with these consumers in order to transfer payment arrangements and gauge the willingness of these consumers to pay. Consumers who Cabot believes are financially incapable of making any payments, those having negative disposable income, or those experiencing hardships (such as medical issues or mental incapacity), are placed on hold and handled outside of normal collections routines. The remaining pool of accounts in the funnel then receives further evaluation. At that point, Cabot analyzes and determines a consumer’s perceived willingness to pay. Based on that analysis, Cabot pursues collections through letters and/or phone calls to its consumers. Where contact is made and consumers indicate a willingness to pay, a patient approach of forbearance is applied using regulatory protocols within the United Kingdom to assess affordability and ensure that plans are fair and balanced and therefore sustainable. Where consumers are not locatable or refuse to engage in a constructive dialogue, Cabot will pass these accounts through a litigation scorecard and rule set in order to assess suitability for legal action. |
| Tax Lien Business | Tax Lien Business Propel’s principal activities are the acquisition and servicing of residential and commercial tax liens on real property. These liens take priority over most other liens. By funding tax liens, Propel provides state and local taxing authorities and governments with much needed tax revenue. To the extent permitted by local law, Propel works with property owners to structure affordable payment plans designed to allow them to keep their property while paying their property tax obligation over time. Propel maintains a foreclosure rate of less than one-half of one percent. Propel’s receivables secured by property tax liens include tax lien transfers (“TLTs”) and tax lien certificates (“TLCs”). With TLTs, property owners choose to have the taxing authority transfer their tax lien to Propel. Propel pays their tax lien obligation to the taxing authority and the property owner pays Propel over time at a lower interest rate than is being assessed by the taxing authority. TLTs provide property owners with repayment plans that are both affordable and flexible when compared with other payment options. Propel also purchases TLCs directly from taxing authorities, securing rights to future property tax payments, interest and penalties. In most cases, TLCs continue to be serviced by the taxing authority. When the taxing authority is paid, it repays the Company the outstanding balance of the lien plus interest, which is negotiated at the time of the purchase. |
| Financial Statement Preparation and Presentation | Financial Statement Preparation and Presentation The accompanying interim condensed consolidated financial statements have been prepared by Encore, without audit, in accordance with the instructions to the Quarterly Report on Form 10-Q, and Rule 10-01 of Regulation S-X promulgated by the United States Securities and Exchange Commission (the “SEC”) and, therefore, do not include all information and footnotes necessary for a fair presentation of its consolidated financial position, results of operations and cash flows in accordance with accounting principles generally accepted in the United States (“GAAP”). In the opinion of management, the unaudited financial information for the interim periods presented reflects all adjustments, consisting of only normal and recurring adjustments, necessary for a fair presentation of the Company’s consolidated financial position, results of operations, and cash flows. These condensed consolidated financial statements should be read in conjunction with the consolidated financial statements included in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2012. Operating results for interim periods are not necessarily indicative of operating results for an entire fiscal year. The preparation of financial statements in conformity with accounting principles generally accepted in the United States requires management to make estimates and assumptions that affect the reported amounts and the disclosure of contingent amounts in the Company’s financial statements and the accompanying notes. Actual results could materially differ from those estimates. |
| Basis of Consolidation | Basis of Consolidation The consolidated financial statements have been prepared in conformity with GAAP, and reflect the accounts and operations of the Company and those of its subsidiaries in which the Company has a controlling financial interest. The Company also consolidates Variable Interest Entities (“VIE”), for which it is the primary beneficiary. The primary beneficiary has both (a) the power to direct the activities of the VIE that most significantly affect the entity’s economic performance, and (b) the obligation to absorb losses or the right to receive benefits. The Company has determined that its less than wholly owned subsidiary Janus Holdings is a VIE, and the Company is the primary beneficiary of the VIE. As a result, the financial results of Janus Holdings are consolidated under the VIE consolidation model. Refer to Note 12, “Variable Interest Entity,” for further details. The Company evaluates its relationships with the VIE on an ongoing basis to ensure that it continues to be the primary beneficiary. All intercompany transactions and balances have been eliminated in consolidation.
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| Translation of Foreign Currencies | Translation of Foreign Currencies The financial statements of Janus Holdings are measured using their local currency Great British Pounds as the functional currency. Janus Holdings assets and liabilities are translated as of the end of the balance sheet date and revenue and expenses are translated at an average rate over the period. Currency translation adjustments are recorded as a component of other comprehensive income. Transaction gains and losses are included in other (expense) income. |
| Reclassifications | Reclassifications Certain immaterial amounts in the 2012 consolidated financial statements have been reclassified to conform to the 2013 presentation. |
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Reclassification. No definition available.
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Disclosure of accounting policy for determining when transfers between levels are recognized. No definition available.
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Disclosure of accounting policy for basis of accounting, or basis of presentation, used to prepare the financial statements (for example, US Generally Accepted Accounting Principles, Other Comprehensive Basis of Accounting, IFRS). No definition available.
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Disclosure of accounting policy regarding (1) the principles it follows in consolidating or combining the separate financial statements, including the principles followed in determining the inclusion or exclusion of subsidiaries or other entities in the consolidated or combined financial statements and (2) its treatment of interests (for example, common stock, a partnership interest or other means of exerting influence) in other entities, for example consolidation or use of the equity or cost methods of accounting. The accounting policy may also address the accounting treatment for intercompany accounts and transactions, noncontrolling interest, and the income statement treatment in consolidation for issuances of stock by a subsidiary. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Disclosure of accounting policy for (1) transactions denominated in a currency other than the reporting enterprise's functional currency, (2) translating foreign currency financial statements that are incorporated into the financial statements of the reporting enterprise by consolidation, combination, or the equity method of accounting, and (3) remeasurement of the financial statements of a foreign reporting enterprise in a hyperinflationary economy. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Disclosure of accounting policy for determining the lower of cost or market value of loans that are unsecured or secured by collateral other than real property, and whether the method is applied to an individual loan or to an aggregate portfolio of loans. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Discontinued Operations (Tables)
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| Discontinued Operations And Disposal Groups [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Revenue and Loss from Discontinued Operations | The following table presents the revenue and loss from discontinued operations (in thousands):
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Tabular disclosure of disposal groups, which may include the gain (loss) recognized in the income statement and the income statement caption that includes that gain (loss), amounts of revenues and pretax profit or loss reported in discontinued operations, the classification and carrying value of the assets and liabilities comprising the disposal group, and the segment in which the disposal group was reported. Also may include the amount of adjustments to amounts previously reported in discontinued operations such as resolution of contingencies arising from the disposal transaction or the operations of the component prior to disposal. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Business Combinations (Tables)
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Sep. 30, 2013
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| Summary of Operating Performance | The following table summarizes the operating performance of Janus Holdings and Encore Europe (in thousands):
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| Pro Forma Consolidated Results of Operations | The following unaudited pro forma financial information does not necessarily reflect the actual results that would have occurred had Encore, Cabot, and AACC been combined during the periods presented, nor is it necessarily indicative of the future results of operations of the combined companies (in thousands):
|
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|
AACC Merger [Member]
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| Components of Preliminary Purchase Price Allocation for Acquisition/Merger | The components of the preliminary purchase price allocation for the AACC Merger are as follows (in thousands):
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Cabot Acquisition [Member]
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| Components of Preliminary Purchase Price Allocation for Acquisition/Merger | The components of the preliminary purchase price allocation for the Cabot Acquisition are as follows (in thousands):
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| X | ||||||||||
|
- Definition
Business Combination Results Of Acquired Company Included In Consolidated Statement Of Operation Table [Text Block] No definition available.
|
| X | ||||||||||
|
- Definition
Schedule Of Business Acquisitions Purchase Price Allocation Table [Text Block] No definition available.
|
| X | ||||||||||
|
- Definition
Tabular disclosure of pro forma results of operations for a material business acquisition or series of individually immaterial business acquisitions that are material in the aggregate. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Earnings per Share (Tables)
|
9 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Sep. 30, 2013
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| Earnings Per Share [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Reconciliation of Shares Used in Calculating Earnings Per Basic and Diluted Shares | A reconciliation of shares used in calculating earnings per basic and diluted shares follows (in thousands):
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- Details
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| X | ||||||||||
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- Definition
Tabular disclosure of an entity's basic and diluted earnings per share calculations, including a reconciliation of numerators and denominators of the basic and diluted per-share computations for income from continuing operations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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|
Fair Value Measurements (Tables)
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9 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Sep. 30, 2013
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| Fair Value Disclosures [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| 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):
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| Change in Redeemable Noncontrolling Interests | The components of the change in the redeemable noncontrolling interests for the periods ended September 30, 2013 are presented in the following table:
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| X | ||||||||||
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- Definition
Redeemable Noncontrolling Interest Rollforward [Table Text Block] No definition available.
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| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- 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). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Derivatives and Hedging Instruments (Tables)
|
9 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Sep. 30, 2013
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| Derivative Instruments And Hedging Activities Disclosure [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Summary of Fair Value of Derivative Instruments as Recorded in the Company's Condensed Consolidated Statements of Financial Condition | The following table summarizes the fair value of derivative instruments as recorded in the Company’s condensed consolidated statements of financial condition (in thousands):
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| Summary of Effects of Derivatives in Cash Flow Hedging Relationships in the Company's Statements of Comprehensive Income |
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| X | ||||||||||
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- Details
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| X | ||||||||||
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- Definition
Tabular disclosure of the location and amount of derivative instruments and nonderivative instruments designated as hedging instruments reported before netting adjustments, and the amount of gain (loss) on derivative instruments and nonderivative instruments designated and qualified as hedging instruments. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Tabular disclosure of the location and fair value amounts of derivative instruments (and nonderivative instruments that are designated and qualify as hedging instruments) reported in the statement of financial position. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Investment in Receivable Portfolios, Net (Tables)
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9 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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|
Sep. 30, 2013
|
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| Receivables [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Summary of Accretable Yield and an Estimate of Zero Basis Future Cash Flows | The following table summarizes the Company’s accretable yield and an estimate of zero basis future cash flows at the beginning and end of the period presented (in thousands):
|
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| Summary of Changes in Balance of the Investment in Receivable Portfolios | The following tables summarize the changes in the balance of the investment in receivable portfolios during the following periods (in thousands, except percentages):
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| Summary of Change in the Valuation Allowance for Investment in Receivable Portfolios | The following table summarizes the change in the valuation allowance for investment in receivable portfolios during the periods presented (in thousands):
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| Summary of Total Collections by Collection Channel | The Company currently utilizes various business channels for the collection of its receivables. The following table summarizes the total collections by collection channel and geographic area (in thousands):
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| X | ||||||||||
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- Definition
Schedule of accretable yield and estimate of zero basis future cash flows. No definition available.
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| X | ||||||||||
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- Definition
Schedule of change in valuation allowance for investment in receivable portfolio. No definition available.
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| X | ||||||||||
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- Definition
Schedule of changes in balance of investment in receivable portfolios . No definition available.
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| X | ||||||||||
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- Definition
Summary of total collections by collection channel. No definition available.
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| X | ||||||||||
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- Details
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|
Receivables Secured by Property Tax Liens, Net (Tables)
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9 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Sep. 30, 2013
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| Text Block [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Aging Analysis of Receivables Secured by Tax Liens | The following table presents the Company’s aging analysis of receivables secured by tax liens as of September 30, 2013 and December 31, 2012 (in thousands):
|
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| X | ||||||||||
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- Definition
Schedule of aging analysis of property tax payment agreements receivable, net. No definition available.
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- Details
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Deferred Court Costs, Net (Tables)
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9 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Sep. 30, 2013
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| Text Block [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule of Deferred Court Costs | Deferred Court Costs consist of the following as of the dates presented (in thousands):
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| Schedule of Court Cost Reserve | A roll forward of the Company’s court cost reserve is as follows (in thousands):
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- Definition
Schedule of court cost reserve. No definition available.
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- Definition
Schedule of deferred court costs. No definition available.
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- Details
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Other Assets (Tables)
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9 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Sep. 30, 2013
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| Deferred Costs Capitalized Prepaid And Other Assets Disclosure [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Components of Other Assets | Other assets consist of the following (in thousands):
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- Definition
Tabular disclosure of the carrying amounts of other assets. This disclosure includes other current assets and other noncurrent assets. No definition available.
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Debt (Tables)
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Sep. 30, 2013
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| Components of Debt | The components of the Company’s consolidated debt and capital lease obligations are as follows (in thousands):
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| Balances of the Liability and Equity Components | The balances of the liability and equity components of all of the convertible notes outstanding were as follows (in thousands):
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Cabot Senior Secured Notes [Member]
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| Interest Expense | Interest expense related to the Cabot Notes was as follows (in thousands):
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Convertible notes [Member]
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| Interest Expense | Interest expense related to the convertible notes was as follows (in thousands):
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- Definition
Balances of the liability and Equity components table text block. No definition available.
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- Definition
Tabular disclosure of information pertaining to short-term and long-debt instruments or arrangements, including but not limited to identification of terms, features, collateral requirements and other information necessary to a fair presentation. No definition available.
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| X | ||||||||||
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- Definition
Tabular disclosure of the components of non-operating income or non-operating expense that may include amounts earned from dividends, interest on securities, gains (losses) on securities sold, equity earnings of unconsolidated affiliates, net gain (loss) on sales of business, interest expense and other miscellaneous income or expense items. No definition available.
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Variable Interest Entity (Tables)
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9 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Sep. 30, 2013
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| Text Block [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Assets and Liabilities of Variable Interest Entity | The following table presents Janus Holdings’ assets and liabilities (after elimination of intercompany transactions and balances) in the Company’s consolidated statement of financial position as of September 30, 2013 (in thousands):
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| X | ||||||||||
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- Definition
Tabular disclosure of the significant judgments and assumptions made in determining whether a variable interest (as defined) held by the entity requires the variable interest entity (VIE) (as defined) to be consolidated and (or) disclose information about its involvement with the VIE, individually or in aggregate (as applicable); the nature of restrictions, if any, on the consolidated VIE's assets and on the settlement of its liabilities reported by an entity in its statement of financial position, including the carrying amounts of such assets and liabilities; the nature of, and changes in, the risks associated with involvement in the VIE; how involvement with the VIE affects the entity's financial position, financial performance, and cash flows; the lack of recourse if creditors (or beneficial interest holders) of the consolidated VIE have no recourse to the general credit of the primary beneficiary (if applicable); the terms of arrangements, giving consideration to both explicit arrangements and implicit variable interests, if any, that could require the entity to provide financial support to the VIE, including events or circumstances that could expose the entity to a loss; the methodology used by the entity for determining whether or not it is the primary beneficiary of the variable interest entity; the significant factors considered and judgments made in determining that the power to direct the activities of a VIE that most significantly impact the VIE's economic performance are shared (as defined); the carrying amounts and classification of assets and liabilities of the VIE included in the statement of financial position; the entity's maximum exposure to loss, if any, as a result of its involvement with the VIE, including how the maximum exposure is determined and significant sources of the entity's exposure to the VIE; a comparison of the carrying amounts of the assets and liabilities and the entity's maximum exposure to loss; information about any liquidity arrangements, guarantees, and (or) other commitments by third parties that may affect the fair value or risk of the entity's variable interest in the VIE; whether or not the entity has provided financial support or other support (explicitly or implicitly) to the VIE that it was not previously contractually required to provide or whether the entity intends to provide that support, including the type and amount of the support and the primary reasons for providing the support; and supplemental information the entity determines necessary to provide. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Details
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Income Taxes (Tables)
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9 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Sep. 30, 2013
|
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| Income Tax Disclosure [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule of Effective Tax Rates | The effective tax rates for the respective periods are shown below:
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| X | ||||||||||
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- Definition
Tabular disclosure of the reconciliation using percentage or dollar amounts of the reported amount of income tax expense attributable to continuing operations for the year to the amount of income tax expense that would result from applying domestic federal statutory tax rates to pretax income from continuing operations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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|
Purchase Concentrations (Tables)
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9 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
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Sep. 30, 2013
|
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| Text Block [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Summary of Concentration of Initial Purchase Cost | The following table summarizes purchases by seller sorted by total aggregate cost (in thousands, except percentages):
|
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| X | ||||||||||
|
- Definition
Schedule of concentration of initial purchase cost. No definition available.
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| X | ||||||||||
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- Details
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Segment Information (Tables)
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9 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Sep. 30, 2013
|
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| Segment Reporting [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Reconciliation of Revenue and Operating Income from Segments to Consolidated | The following table provides a reconciliation of revenue and segment operating income by reportable segment to consolidated results and was derived from the segments’ internal financial information as used for corporate management purposes (in thousands):
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule of Geographical Areas of Which Company Operates | The following presents information about geographic areas in which the Company operates (in thousands):
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| X | ||||||||||
|
- Definition
Tabular disclosure of all significant reconciling items in the reconciliation of total profit or loss from reportable segments, to the entity's consolidated income before income taxes, extraordinary items, and discontinued operations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Tabular disclosure of information concerning material long-lived assets (excluding financial instruments, customer relationships with financial institutions, mortgage and other servicing rights, deferred policy acquisition costs, and deferred taxes assets) located in identified geographic areas and/or the amount of revenue from external customers attributed to that country from which revenue is material. An entity may also provide subtotals of geographic information about groups of countries. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
|
Goodwill and Identifiable Intangible Assets (Tables)
|
9 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|
Sep. 30, 2013
|
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| Goodwill And Intangible Assets Disclosure [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Summary of Acquired Intangible Assets | The Company’s acquired intangible assets are summarized as follows (in thousands):
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule of Changes in Carrying Amount of Goodwill by Reporting Unit | The changes in carrying amount of goodwill by reporting unit for the nine months ended September 30, 2013 are as follows (in thousands):
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Tabular disclosure of goodwill by reportable segment and in total which includes a rollforward schedule. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Tabular disclosure of goodwill and intangible assets, which may be broken down by segment or major class. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Ownership, Description of Business and Summary of Significant Accounting Policies - Additional Information (Detail)
|
9 Months Ended |
|---|---|
|
Sep. 30, 2013
|
|
| Basis Of Presentation And Significant Accounting Policies [Line Items] | |
| Percentage of payments made for portfolio purchase | 50.00% |
|
Maximum [Member]
|
|
| Basis Of Presentation And Significant Accounting Policies [Line Items] | |
| Foreclosure rate | 0.50% |
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Percentage Of Payments Made For Portfolio Purchase No definition available.
|
| X | ||||||||||
|
- Definition
Rate Of Tax Foreclosure No definition available.
|
|
Discontinued Operations - Additional Information (Detail) (USD $)
In Millions, unless otherwise specified |
1 Months Ended | 3 Months Ended | |
|---|---|---|---|
|
May 31, 2012
|
Sep. 30, 2013
|
Jun. 30, 2012
|
|
| Discontinued Operations And Disposal Groups [Abstract] | |||
| Additional recognition of loss contingency | $ 4.0 | ||
| Description of payment of earn-out of EBITDA from discontinued operation | Company will be paid an earn-out equal to 40% of Ascension's EBITDA for the first five years commencing May 16, 2012. | ||
| Recognized loss contingency | 4.0 | ||
| Expenses incurred | $ 0.5 | ||
| X | ||||||||||
|
- Definition
Description of earn out consideration to be received in future on discontinued operation. No definition available.
|
| X | ||||||||||
|
- Definition
Maximum operating profit of discontinued business to be covered. No definition available.
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Amount of operating expenses attributable to the disposal group, including a component of the entity (discontinued operation), during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The amount of loss pertaining to the specified contingency that was charged against earnings in the period, including the effects of revisions in previously reported estimates. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Discontinued Operations - Revenue and Loss from Discontinued Operations (Detail) (USD $)
In Thousands, unless otherwise specified |
3 Months Ended | 9 Months Ended | ||
|---|---|---|---|---|
|
Sep. 30, 2013
|
Sep. 30, 2012
|
Sep. 30, 2013
|
Sep. 30, 2012
|
|
| Discontinued Operations And Disposal Groups [Abstract] | ||||
| Revenue | $ 5,704 | |||
| Loss from discontinued operations before income taxes | (500) | (500) | (11,942) | |
| Income tax benefit | 192 | 192 | 4,678 | |
| Loss from discontinued operations | (308) | (308) | (7,264) | |
| Loss on sale of discontinued operations, before income taxes | (2,416) | |||
| Income tax benefit | 586 | |||
| Loss on sale of discontinued operations | (1,830) | |||
| Total loss from discontinued operations | $ (308) | $ (308) | $ (9,094) | |
| X | ||||||||||
|
- Definition
Amount of gain (loss), before tax expense or benefit and not previously recognized, resulting from the sale of a business component. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of gain (loss), after tax expense or benefit and not previously recognized, resulting from the sale of a business component. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Pretax income (loss) from operations of a business component (exclusive of any gain (loss) on disposal, or provision therefore) during the reporting period, until its disposal. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
After tax income (loss) from operations of a business component (exclusive of any gain (loss) on disposal, or provision therefore) during the reporting period, until its disposal. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Income tax expense or benefit attributable to Income or Loss from discontinued operations during the phase-out period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of tax expense or benefit on gain (loss), not previously recognized, resulting from the sale of a business component. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of sales or other form of revenues attributable to the disposal group, including a component of the entity (discontinued operation), during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of income (loss) from a disposal group, net of income tax before extraordinary items allocable to noncontrolling interests. Includes, net of tax, income (loss) from operations during the phase-out period, gain (loss) on disposal, provision (or any reversals of earlier provisions) for loss on disposal, and adjustments of a prior period gain (loss) on disposal. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Business Combinations - Additional Information (Detail)
|
3 Months Ended | 9 Months Ended | 3 Months Ended | 3 Months Ended | 1 Months Ended | 3 Months Ended | 9 Months Ended | 3 Months Ended | 9 Months Ended | 0 Months Ended | 0 Months Ended | 9 Months Ended | 0 Months Ended | 0 Months Ended | ||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|
Sep. 30, 2013
USD ($)
|
Sep. 30, 2012
USD ($)
|
Sep. 30, 2013
USD ($)
|
Sep. 30, 2012
USD ($)
|
Dec. 31, 2012
USD ($)
|
Sep. 30, 2013
Janus Holdings [Member]
USD ($)
|
Jul. 02, 2013
Janus Holdings [Member]
|
Sep. 30, 2013
Janus Holdings [Member]
Preferred Equity Certificate [Member]
USD ($)
|
Sep. 30, 2013
Encore Europe Consolidated [Member]
USD ($)
|
Sep. 30, 2013
Encore Europe Consolidated [Member]
Preferred Equity Certificate [Member]
USD ($)
|
Jun. 13, 2013
AACC Merger [Member]
USD ($)
|
Sep. 30, 2013
AACC Merger [Member]
USD ($)
|
Sep. 30, 2013
AACC Merger [Member]
USD ($)
|
Jul. 02, 2013
Cabot Credit Management [Member]
Janus Holdings [Member]
|
Sep. 30, 2013
Cabot Acquisition [Member]
USD ($)
|
Sep. 30, 2013
Cabot Acquisition [Member]
USD ($)
|
Jul. 02, 2013
Cabot Acquisition [Member]
A Shares [Member]
|
Jul. 02, 2013
Cabot Acquisition [Member]
Janus Holdings [Member]
GBP (£)
|
Jun. 30, 2014
Cabot Acquisition [Member]
Janus Holdings [Member]
Subsequent Event [Member]
|
Jul. 02, 2013
Cabot Acquisition [Member]
Janus Holdings [Member]
E Shares [Member]
|
Jul. 02, 2013
Cabot Acquisition [Member]
Janus Holdings [Member]
E Bridge PECs [Member]
GBP (£)
|
Jul. 02, 2013
Cabot Acquisition [Member]
Janus Holdings [Member]
E PECs [Member]
GBP (£)
|
Sep. 30, 2013
J.C Flowers [Member]
|
Jul. 02, 2013
Cabot Holdings [Member]
A Shares [Member]
|
Jul. 02, 2013
Cabot Holdings [Member]
Janus Holdings [Member]
|
Jul. 02, 2013
Cabot Holdings [Member]
Janus Holdings [Member]
J Shares [Member]
|
Jul. 02, 2013
Cabot Holdings [Member]
Janus Holdings [Member]
J Bridge PECs [Member]
GBP (£)
|
Jul. 02, 2013
Cabot Holdings [Member]
Janus Holdings [Member]
J PECs [Member]
GBP (£)
|
|
| Business Acquisition [Line Items] | ||||||||||||||||||||||||||||
| Percentage of equity interest acquired | 50.10% | 42.90% | ||||||||||||||||||||||||||
| Debt instrument purchased, face value | £ 10,218,574 | £ 10,177,781 | ||||||||||||||||||||||||||
| Debt instrument purchased, face amount | 96,729,661 | 96,343,515 | ||||||||||||||||||||||||||
| Common stock, shares issued | 1,700,000 | 3,498,563 | 100 | 100 | ||||||||||||||||||||||||
| Number of shares held | 100 | 3,484,597 | ||||||||||||||||||||||||||
| Aggregate purchase price | 150,800,000 | 316,485,000 | 177,246,000 | 115,100,000 | ||||||||||||||||||||||||
| Minority interest percentage | 49.90% | 49.90% | ||||||||||||||||||||||||||
| Interest rate of PECs | 12.00% | 12.00% | ||||||||||||||||||||||||||
| Acquisition and integration costs | 1,800,000 | 7,900,000 | 3,300,000 | 6,400,000 | ||||||||||||||||||||||||
| Total revenues | 235,558,000 | 145,218,000 | 536,265,000 | 412,874,000 | 46,472,000 | 46,472,000 | ||||||||||||||||||||||
| Net income | 21,064,000 | 21,308,000 | 51,524,000 | 49,310,000 | (1,440,000) | 3,558,000 | ||||||||||||||||||||||
| Net (loss) income attributable to Encore | 21,886,000 | 21,308,000 | 52,346,000 | 49,310,000 | (618,000) | 4,380,000 | ||||||||||||||||||||||
| Loss attributable to noncontrolling interests | (822,000) | (822,000) | (822,000) | (822,000) | ||||||||||||||||||||||||
| Noncontrolling ownership interest percentage | 57.10% | |||||||||||||||||||||||||||
| PEC interest (expense) income | 4,379,000 | 4,110,000 | 11,698,000 | 6,442,000 | (10,875,000) | (5,877,000) | ||||||||||||||||||||||
| Goodwill | 489,520,000 | 489,520,000 | 55,446,000 | 369,912,000 | 68,171,000 | 68,171,000 | 351,618,000 | 351,618,000 | ||||||||||||||||||||
| Common stock, price per share | $ 37.30 | |||||||||||||||||||||||||||
| Business acquisition, debt paid off on the closing date of AACC Merger | 165,700,000 | |||||||||||||||||||||||||||
| Revenue included in condensed consolidated statement of income | 49,100,000 | 59,100,000 | ||||||||||||||||||||||||||
| Net income included in condensed consolidated statement of income | $ 7,300,000 | $ 8,200,000 | ||||||||||||||||||||||||||
| X | ||||||||||
|
- Definition
Business Acquisition Debt Of Acquired Entity Paid Off No definition available.
|
| X | ||||||||||
|
- Definition
Business Acquisition Percentage Of Equity Interests Acquired No definition available.
|
| X | ||||||||||
|
- Definition
Business Combination Number Of Shares Acquired No definition available.
|
| X | ||||||||||
|
- Definition
Business Combination Number Of Shares Still Held By Minority Interest No definition available.
|
| X | ||||||||||
|
- Definition
Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Financial Liabilities Still Held By Minority Interest No definition available.
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Price of a single share of a number of saleable stocks paid or offered to be paid in a business combination. No definition available.
|
| X | ||||||||||
|
- Definition
This element represents acquisition-related costs incurred to effect a business combination which costs have been expensed during the period. Such costs include finder's fees; advisory, legal, accounting, valuation, and other professional or consulting fees; general administrative costs, including the costs of maintaining an internal acquisitions department; and may include costs of registering and issuing debt and equity securities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
This element represents the amount of earnings or loss of the acquiree since the acquisition date included in the consolidated income statement for the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
This element represents the amount of revenue of the acquiree since the acquisition date included in the consolidated income statement for the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The amount of financial liabilities assumed (as defined) which have been recognized as of the acquisition date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Contractual interest rate for funds borrowed, under the debt agreement. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount after accumulated impairment loss of an asset representing future economic benefits arising from other assets acquired in a business combination that are not individually identified and separately recognized. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The net amount of operating interest income (expense). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The equity interest of noncontrolling shareholders, partners or other equity holders in consolidated entity. No definition available.
|
| X | ||||||||||
|
- Definition
The parent entity's interest in net assets of the subsidiary, expressed as a percentage. No definition available.
|
| X | ||||||||||
|
- Definition
The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of Net Income (Loss) attributable to noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The cash outflow associated with the acquisition of business during the period. The cash portion only of the acquisition price. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of revenue recognized from goods sold, services rendered, insurance premiums, or other activities that constitute an earning process. Includes, but is not limited to, investment and interest income before deduction of interest expense when recognized as a component of revenue, and sales and trading gain (loss). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Sum of operating profit and nonoperating income or expense before Income or Loss from equity method investments, income taxes, extraordinary items, and noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of the cost of borrowed funds accounted for as interest expense. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The net amount of operating interest income (expense). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of Net Income (Loss) attributable to noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Generally recurring costs associated with normal operations except for the portion of these expenses which can be clearly related to production and included in cost of sales or services. Includes selling, general and administrative expense. No definition available.
|
| X | ||||||||||
|
- Definition
The net result for the period of deducting operating expenses from operating revenues. No definition available.
|
| X | ||||||||||
|
- Definition
The aggregate amount of other income amounts, the components of which are not separately disclosed on the income statement, resulting from ancillary business-related activities (that is, excluding major activities considered part of the normal operations of the business) also known as other nonoperating income recognized for the period. Such amounts may include: (a) dividends, (b) interest on securities, (c) profits on securities (net of losses), and (d) miscellaneous other income items. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of revenue recognized from goods sold, services rendered, insurance premiums, or other activities that constitute an earning process. Includes, but is not limited to, investment and interest income before deduction of interest expense when recognized as a component of revenue, and sales and trading gain (loss). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Business Combinations - Components of Preliminary Purchase Price Allocation for Acquisition/Merger (Detail) (USD $)
In Thousands, unless otherwise specified |
1 Months Ended | 9 Months Ended | |||
|---|---|---|---|---|---|
|
Sep. 30, 2013
|
Dec. 31, 2012
|
Jun. 13, 2013
AACC Merger [Member]
|
Sep. 30, 2013
AACC Merger [Member]
|
Sep. 30, 2013
Cabot Acquisition [Member]
|
|
| Business Acquisition [Line Items] | |||||
| Cash paid at acquisition | $ 150,800 | $ 316,485 | $ 177,246 | ||
| Stock consideration | 62,352 | ||||
| Total net assets acquired | 378,837 | 177,246 | |||
| Allocation of purchase price: | |||||
| Cash | 23,156 | 57,520 | |||
| Investment in receivable portfolios | 381,233 | 558,951 | |||
| Deferred court costs | 6,141 | ||||
| Property and equipment | 11,003 | 13,672 | |||
| Other assets | 16,004 | 20,772 | |||
| Preferred equity certificates assumed | (211,549) | ||||
| Liabilities assumed | (128,341) | ||||
| Debt assumed | (559,907) | ||||
| Other liabilities assumed | (44,727) | ||||
| Redeemable noncontrolling interests | (12,064) | ||||
| Noncontrolling interests | (4,051) | ||||
| Identifiable intangible assets | 1,470 | 7,011 | |||
| Goodwill | 489,520 | 55,446 | 68,171 | 351,618 | |
| Total net assets acquired | 378,837 | 177,246 | |||
| Total net assets acquired | $ 378,837 | $ 177,246 | |||
| X | ||||||||||
|
- Definition
Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Deferred Court Costs No definition available.
|
| X | ||||||||||
|
- Definition
Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Preferred Equity Certificates No definition available.
|
| X | ||||||||||
|
- Definition
Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Redeemable Noncontrolling Interests No definition available.
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
This element represents the fair value of the noncontrolling interest in the acquiree at the acquisition date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of equity interests of the acquirer, including instruments or interests issued or issuable in consideration for the business combination. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of currency on hand as well as demand deposits with banks or financial institutions, acquired at the acquisition date. Includes other kinds of accounts that have the general characteristics of demand deposits. Also includes short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount due from customers or clients for goods or services, including trade receivables, that have been delivered or sold in the normal course of business, and amounts due from others, including related parties expected to be converted to cash, sold or exchanged within one year or the normal operating cycle, if longer, acquired at the acquisition date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of intangible assets, excluding goodwill, acquired at the acquisition date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of liabilities assumed at the acquisition date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Amount of long-term debt due after one year or the normal operating cycle, if longer, assumed at the acquisition date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of other liabilities due after one year or the normal operating cycle, if longer, assumed at the acquisition date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of other assets expected to be realized or consumed after one year or the normal operating cycle, if longer, acquired at the acquisition date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The amount of property, plant, and equipment recognized as of the acquisition date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount recognized for assets, including goodwill, in excess of (less than) the aggregate liabilities assumed. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount after accumulated impairment loss of an asset representing future economic benefits arising from other assets acquired in a business combination that are not individually identified and separately recognized. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The cash outflow associated with the acquisition of business during the period. The cash portion only of the acquisition price. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Business Combinations - Pro Forma Consolidated Results of Operations (Detail) (Consolidated Entities [Member], USD $)
In Thousands, unless otherwise specified |
3 Months Ended | 9 Months Ended | ||
|---|---|---|---|---|
|
Sep. 30, 2013
|
Sep. 30, 2012
|
Sep. 30, 2013
|
Sep. 30, 2012
|
|
|
Consolidated Entities [Member]
|
||||
| Business Acquisitions Pro Forma Information [Line Items] | ||||
| Consolidated pro forma revenue | $ 235,558 | $ 236,693 | $ 712,237 | $ 693,718 |
| Consolidated pro forma income from continuing operations attributable to Encore | $ 22,194 | $ 27,743 | $ 68,731 | $ 75,928 |
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
The pro forma net Income or Loss for the period as if the business combination or combinations had been completed at the beginning of a period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The pro forma revenue for a period as if the business combination or combinations had been completed at the beginning of the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Earnings per Share - Reconciliation of Shares Used in Calculating Earnings Per Basic and Diluted Shares (Detail)
In Thousands, unless otherwise specified |
3 Months Ended | 9 Months Ended | ||
|---|---|---|---|---|
|
Sep. 30, 2013
|
Sep. 30, 2012
|
Sep. 30, 2013
|
Sep. 30, 2012
|
|
| Earnings Per Share Basic And Diluted [Abstract] | ||||
| Weighted average common shares outstanding - basic | 25,535 | 25,071 | 24,323 | 24,930 |
| Dilutive effect of stock-based awards | 843 | 976 | 940 | 990 |
| Dilutive effect of convertible senior notes | 805 | 298 | ||
| Weighted average common shares outstanding - diluted | 27,183 | 26,047 | 25,561 | 25,920 |
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Additional shares included in the calculation of diluted EPS as a result of the potentially dilutive effect of convertible debt securities using the if-converted method. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Additional shares included in the calculation of diluted EPS as a result of the potentially dilutive effect of share based payment arrangements using the treasury stock method. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The average number of shares or units issued and outstanding that are used in calculating diluted EPS or earnings per unit (EPU), determined based on the timing of issuance of shares or units in the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Number of [basic] shares or units, after adjustment for contingently issuable shares or units and other shares or units not deemed outstanding, determined by relating the portion of time within a reporting period that common shares or units have been outstanding to the total time in that period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Earnings per Share - Additional Information (Detail) (USD $)
|
9 Months Ended | 3 Months Ended | 9 Months Ended | ||
|---|---|---|---|---|---|
|
Sep. 30, 2013
|
Sep. 30, 2013
2017 Convertible Senior Notes [Member]
|
Nov. 27, 2012
2017 Convertible Senior Notes [Member]
|
Sep. 30, 2012
Employee Stock Options [Member]
|
Sep. 30, 2012
Employee Stock Options [Member]
|
|
| Schedule Of Earnings Per Share [Line Items] | |||||
| Anti-dilutive securities to purchase common stock excluded from computation of diluted earnings per share | 3,600,000 | 210,000 | 335,000 | ||
| Initial conversion price per share | $ 31.56 | $ 31.56 | |||
| Effective conversion price of Notes per share | $ 44.1875 | ||||
| Warrant's exercise price | $ 44.1875 |
| X | ||||||||||
|
- Definition
Debt instrument convertible effective conversion price. No definition available.
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Exercise price of the warrants. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Securities (including those issuable pursuant to contingent stock agreements) that could potentially dilute basic earnings per share (EPS) or earnings per unit (EPU) in the future that were not included in the computation of diluted EPS or EPU because to do so would increase EPS or EPU amounts or decrease loss per share or unit amounts for the period presented. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The price per share of the conversion feature embedded in the debt instrument. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Fair value portion of liability contracts related to the exchange of different currencies, including, but not limited to, foreign currency options, forward (delivery or nondelivery) contracts, and swaps entered into. No definition available.
|
| X | ||||||||||
|
- Definition
Fair value as of the balance sheet date of interest rate derivative assets, which includes all such derivative instruments in hedging and nonhedging relationships that are recognized as assets. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Fair value as of the balance sheet date of interest rate derivative liabilities, which includes all such derivative instruments in hedging and nonhedging relationships that are recognized as liabilities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
The aggregate fair value as of the reporting date of all noncontrolling interests which are redeemable by the (parent) entity (1) at a fixed or determinable price on a fixed or determinable date, (2) at the option of the holder of the noncontrolling interest, or (3) upon occurrence of an event that is not solely within the control of the (parent) entity. This item includes noncontrolling interest holder's ownership (or holders' ownership) regardless of the type of equity interest (common, preferred, other) including all potential organizational (legal) forms of the investee entity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
|
Fair Value Measurements - Change in Redeemable Noncontrolling Interests (Detail) (USD $)
In Thousands, unless otherwise specified |
3 Months Ended |
|---|---|
|
Sep. 30, 2013
|
|
| Fair Value Disclosures [Abstract] | |
| Balance at beginning of period | |
| Initial redeemable noncontrolling interest related to business combination | 12,064 |
| Net loss attributable to redeemable noncontrolling interests | (615) |
| Effect of foreign currency translation attributable to redeemable noncontrolling interests | 782 |
| Balance at end of period | $ 12,231 |
| X | ||||||||||
|
- Definition
Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Portion Attributable To Redeemable Noncontrolling Interest No definition available.
|
| X | ||||||||||
|
- Definition
Redeemable Noncontrolling Interest Increase From Business Combination No definition available.
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Amount of Net Income (Loss) attributable to redeemable noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
As of the reporting date, the aggregate carrying amount of all noncontrolling interests which are redeemable by the (parent) entity (1) at a fixed or determinable price on a fixed or determinable date, (2) at the option of the holder of the noncontrolling interest, or (3) upon occurrence of an event that is not solely within the control of the (parent) entity. This item includes noncontrolling interest holder's ownership (or holders' ownership) regardless of the type of equity interest (common, preferred, other) including all potential organizational (legal) forms of the investee entity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Fair Value Of Estimated Market Participant Rate No definition available.
|
| X | ||||||||||
|
- Definition
Fluctuation in discount rate. No definition available.
|
| X | ||||||||||
|
- Definition
Increase or decrease of the fair value. No definition available.
|
| X | ||||||||||
|
- Definition
The recorded balance, net of any applicable reductions (for example, unamortized accretable yield and allowance for loan losses). This relates to loans not accounted for debt securities with evidence of deterioration of credit quality since origination that were acquired by completion of a transfer for which it is probable, at acquisition, that the investor will be unable to collect all contractually required payments receivable. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Fair value portion of borrowing which can be exchanged for a specified number of another security at the option of the issuer or the holder, for example, but not limited to, the entity's common stock. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Including the current and noncurrent portions, carrying value as of the balance sheet date of a written promise to pay a note, initially due after one year or beyond the operating cycle if longer, which can be exchanged for a specified amount of one or more securities (typically common stock), at the option of the issuer or the holder. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The amount of debt discount that was originally recognized at the issuance of the instrument that has yet to be amortized. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Interest rate used to find the present value of an amount to be paid or received in the future as an input to measure fair value. For example, but not limited to, weighted average cost of capital (WACC), cost of capital, cost of equity and cost of debt. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Derivatives and Hedging Instruments - Additional Information (Detail)
In Millions, unless otherwise specified |
3 Months Ended | 9 Months Ended | 1 Months Ended | 9 Months Ended | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
|
Sep. 30, 2013
USD ($)
Interest_Rate_Swaps
|
Jun. 30, 2013
USD ($)
|
Sep. 30, 2012
USD ($)
|
Sep. 30, 2013
USD ($)
Interest_Rate_Swaps
|
Sep. 30, 2012
USD ($)
|
Sep. 30, 2013
Interest rate swaps [Member]
USD ($)
|
Jun. 28, 2013
Forward contracts [Member]
USD ($)
|
Sep. 30, 2013
Forward contracts [Member]
USD ($)
|
Sep. 30, 2013
Zero-cost collar foreign exchange contract [Member]
|
Jun. 07, 2013
Zero-cost collar foreign exchange contract [Member]
USD ($)
|
Jun. 07, 2013
Zero-cost collar foreign exchange contract [Member]
EUR (€)
|
|
| Derivative [Line Items] | |||||||||||
| Notional amount of derivative instruments | $ 75.0 | $ 52.8 | $ 206.0 | € 132.1 | |||||||
| Number of interest rate swap agreements outstanding | 3 | 3 | |||||||||
| Cash payments of future forecasted transactions in Indian rupees maximum | 36 months | ||||||||||
| Net derivative loss included in OCI will be reclassified into earnings | 2.2 | ||||||||||
| Gains or losses were reclassified from OCI into earnings | 0 | 0 | 0 | 0 | |||||||
| Derivative expiry date | Aug. 13, 2013 | ||||||||||
| Foreign exchange contract loss | 3.6 | ||||||||||
| Decrease in estimated purchase price by offsetting foreign exchange loss | $ 4.3 | $ 4.3 | |||||||||
| X | ||||||||||
|
- Definition
Decrease In Estimated Purchase Price By Offsetting Foreign Exchange Loss No definition available.
|
| X | ||||||||||
|
- Definition
Aggregate notional amount specified by the derivative(s). Expressed as an absolute value. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The effective portion of loss reclassified from accumulated other comprehensive income into income on derivative instruments designated and qualifying as hedging instruments. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Amount of decrease in the fair value of derivatives recognized in the income statement. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Date the derivative contract matures, in CCYY-MM-DD format. No definition available.
|
| X | ||||||||||
|
- Definition
Aggregate impact of foreign currency derivatives on earnings for the period. Includes impact of foreign currency cash flow hedge ineffectiveness and the ineffectiveness of fair value hedging derivatives and full change in fair value of the foreign currency derivatives not designated as hedging instruments. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Maximum period of time the entity is hedging its exposure to variability in future cash flows for forecasted transactions, in 'PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents the reported fact of one year, five months, and thirteen days. Excludes forecasted transactions related to payment of variable interest on existing financial instruments. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Number of interest rate derivative instruments held by the entity at the reporting date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Derivatives and Hedging Instruments - Summary of Fair Value of Derivative Instruments as Recorded in Company's Condensed Consolidated Statements of Financial Condition (Detail) (USD $)
In Thousands, unless otherwise specified |
Sep. 30, 2013
|
Dec. 31, 2012
|
|---|---|---|
|
Other Liabilities [Member] | Interest rate swaps [Member]
|
||
| Derivative [Line Items] | ||
| Derivatives designated as hedging instruments | $ (139) | $ (645) |
|
Other Liabilities [Member] | Foreign currency exchange contracts [Member]
|
||
| Derivative [Line Items] | ||
| Derivatives designated as hedging instruments | (5,567) | (2,010) |
|
Other assets [Member] | Interest rate cap [Member]
|
||
| Derivative [Line Items] | ||
| Derivatives not designated as hedging instruments | $ 206 |
| X | ||||||||||
|
- Definition
Aggregate net fair value of all derivative instruments designated as hedging instruments. Includes instruments designated as cash flow hedges, fair value hedges, and hedges of net investments in foreign operations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Net fair value of all derivative instruments not designated as a hedging instrument. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Derivatives and Hedging Instruments - Summary of Effects of Derivatives in Cash Flow Hedging Relationships in Company's Statements of Comprehensive Income (Detail) (USD $)
In Thousands, unless otherwise specified |
3 Months Ended | 9 Months Ended | ||
|---|---|---|---|---|
|
Sep. 30, 2013
|
Sep. 30, 2012
|
Sep. 30, 2013
|
Sep. 30, 2012
|
|
|
Interest rate swaps [Member]
|
||||
| Derivative [Line Items] | ||||
| Gain or (Loss) Recognized in OCI - Effective Portion | $ 132 | $ 62 | $ 506 | $ (9) |
|
Foreign currency exchange contracts 1 [Member]
|
||||
| Derivative [Line Items] | ||||
| Gain or (Loss) Recognized in OCI - Effective Portion | (1,871) | 2,131 | (3,809) | (69) |
|
Foreign currency exchange contracts 2 [Member]
|
||||
| Derivative [Line Items] | ||||
| Gain or (Loss) Recognized in OCI - Effective Portion | (381) | 377 | (809) | 173 |
|
Other (expense) income [Member] | Interest rate swaps [Member]
|
||||
| Derivative [Line Items] | ||||
| Amount of Gain or (Loss) Recognized - Ineffective Portion and Amount Excluded from Effectiveness Testing | ||||
|
Other (expense) income [Member] | Foreign currency exchange contracts 1 [Member]
|
||||
| Derivative [Line Items] | ||||
| Amount of Gain or (Loss) Recognized - Ineffective Portion and Amount Excluded from Effectiveness Testing | ||||
|
Other (expense) income [Member] | Foreign currency exchange contracts 2 [Member]
|
||||
| Derivative [Line Items] | ||||
| Amount of Gain or (Loss) Recognized - Ineffective Portion and Amount Excluded from Effectiveness Testing | ||||
|
Interest expense [Member] | Interest rate swaps [Member]
|
||||
| Derivative [Line Items] | ||||
| Gain or (Loss) Reclassified from OCI into Income - Effective Portion | ||||
|
Salaries and employee benefits [Member] | Foreign currency exchange contracts 1 [Member]
|
||||
| Derivative [Line Items] | ||||
| Gain or (Loss) Reclassified from OCI into Income - Effective Portion | (622) | (389) | (890) | (946) |
|
General and administrative expenses [Member] | Foreign currency exchange contracts 2 [Member]
|
||||
| Derivative [Line Items] | ||||
| Gain or (Loss) Reclassified from OCI into Income - Effective Portion | $ (119) | $ (69) | $ (171) | $ (164) |
| X | ||||||||||
|
- Definition
The effective portion of net gain (loss) reclassified from accumulated other comprehensive income into income on derivative instruments designated and qualifying as hedging instruments. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The portion of gains and losses (net) on derivative instruments designated and qualifying as hedging instruments representing (a) the amount of the hedge ineffectiveness and (b) the amount, if any, excluded from the assessment of hedge effectiveness. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The effective portion of gains and losses (net) on derivative instruments designated and qualifying as hedging instruments that was recognized in other comprehensive income during the current period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
|
Investment in Receivable Portfolios, Net - Additional Information (Detail) (USD $)
|
3 Months Ended | 9 Months Ended | 1 Months Ended | 3 Months Ended | 9 Months Ended | ||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
|
Sep. 30, 2013
|
Sep. 30, 2012
|
Sep. 30, 2013
|
Sep. 30, 2012
|
Sep. 30, 2013
Investment Receivables AACC [Member]
|
Jul. 31, 2013
Cabot Acquisition [Member]
|
Sep. 30, 2013
Cabot Acquisition [Member]
|
Sep. 30, 2013
Cabot Acquisition [Member]
|
Sep. 30, 2013
Minimum [Member]
|
Sep. 30, 2013
Maximum [Member]
|
Sep. 30, 2013
Maximum [Member]
Cabot Holdings [Member]
|
|
| Certain Loans Acquired In Transfer Not Accounted For As Debt Securities Carrying Amount Net [Line Items] | |||||||||||
| Collection forecast estimated on receivable portfolios | 84 months | 96 months | 120 months | ||||||||
| Investment in receivable portfolios collection forecast estimate | $ 142,600,000 | $ 142,600,000 | |||||||||
| Income recognized under cost recovery method | 0 | ||||||||||
| Face value of receivable portfolios | 13,400,000,000 | 1,100,000,000 | 83,900,000,000 | 10,000,000,000 | |||||||
| Purchase price of receivable portfolios | 617,852,000 | 47,311,000 | 1,099,736,000 | 408,757,000 | 381,200,000 | 559,000,000 | 559,000,000 | 559,000,000 | |||
| Purchase cost as a percentage of face value | 4.60% | 4.50% | 1.30% | 4.10% | |||||||
| Estimated future collections at acquisition for receivable portfolios | 1,500,000,000 | 80,400,000 | 2,600,000,000 | 717,300,000 | |||||||
| Zero Basis Revenue | $ 4,200,000 | $ 5,500,000 | $ 13,600,000 | $ 17,600,000 | |||||||
| X | ||||||||||
|
- Definition
Certain Loans Acquired In Transfer Not Accounted For As Debt Securities Carrying Amount Net Collection Forecast Estimate No definition available.
|
| X | ||||||||||
|
- Definition
Certain Loans Acquired In Transfer Not Accounted For As Debt Securities Carrying Amount Net Collection Forecast Estimated Period No definition available.
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Certain loans acquired in transfer not accounted for as debt securities, purchases of receivable portfolios. No definition available.
|
| X | ||||||||||
|
- Definition
Estimated future collections at acquisition for receivable portfolios. No definition available.
|
| X | ||||||||||
|
- Definition
Face value of receivable portfolios. No definition available.
|
| X | ||||||||||
|
- Definition
Income recognized under cost recovery method. No definition available.
|
| X | ||||||||||
|
- Definition
Receivable portfolios, percentage of face value on purchase cost. No definition available.
|
| X | ||||||||||
|
- Definition
Zero basis revenue. No definition available.
|
|
Investment in Receivable Portfolios, Net - Summary of Accretable Yield and an Estimate of Zero Basis Future Cash Flows (Detail) (USD $)
In Thousands, unless otherwise specified |
3 Months Ended | |||||
|---|---|---|---|---|---|---|
|
Sep. 30, 2013
|
Jun. 30, 2013
|
Mar. 31, 2013
|
Sep. 30, 2012
|
Jun. 30, 2012
|
Mar. 31, 2012
|
|
| Certain Loans Acquired In Transfer Not Accounted For As Debt Securities Carrying Amount Net [Line Items] | ||||||
| Beginning Balance | $ 1,644,213 | $ 1,109,130 | $ 1,002,310 | $ 1,112,790 | $ 981,978 | $ 854,203 |
| Revenue recognized, net | (225,387) | (152,024) | (140,683) | (140,682) | (138,731) | (126,405) |
| Net additions to existing portfolios | 32,149 | 41,242 | 180,695 | 69,689 | 91,211 | 134,647 |
| Additions for current purchases | 975,380 | 645,865 | 66,808 | 36,387 | 178,332 | 119,533 |
| Ending Balance | 2,426,355 | 1,644,213 | 1,109,130 | 1,078,184 | 1,112,790 | 981,978 |
|
Accretable Yield [Member]
|
||||||
| Certain Loans Acquired In Transfer Not Accounted For As Debt Securities Carrying Amount Net [Line Items] | ||||||
| Beginning Balance | 1,622,451 | 1,090,314 | 984,944 | 1,076,940 | 952,759 | 821,527 |
| Revenue recognized, net | (218,182) | (144,186) | (135,072) | (134,295) | (131,624) | (119,340) |
| Net additions to existing portfolios | 29,101 | 30,458 | 173,634 | 71,730 | 77,473 | 131,039 |
| Additions for current purchases | 975,380 | 645,865 | 66,808 | 36,387 | 178,332 | 119,533 |
| Ending Balance | 2,408,750 | 1,622,451 | 1,090,314 | 1,050,762 | 1,076,940 | 952,759 |
|
Estimate of Zero Basis Cash Flows [Member]
|
||||||
| Certain Loans Acquired In Transfer Not Accounted For As Debt Securities Carrying Amount Net [Line Items] | ||||||
| Beginning Balance | 21,762 | 18,816 | 17,366 | 35,850 | 29,219 | 32,676 |
| Revenue recognized, net | (7,205) | (7,838) | (5,611) | (6,387) | (7,107) | (7,065) |
| Net additions to existing portfolios | 3,048 | 10,784 | 7,061 | (2,041) | 13,738 | 3,608 |
| Ending Balance | $ 17,605 | $ 21,762 | $ 18,816 | $ 27,422 | $ 35,850 | $ 29,219 |
| X | ||||||||||
|
- Definition
Certain Loans Acquired In Transfer Not Accounted For As Debt Securities Additions For Current Purchases Accretable Yield No definition available.
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Certain Loans Acquired In Transfer Not Accounted For As Debt Securities Net Additions To Existing Portfolios Accretable Yield No definition available.
|
| X | ||||||||||
|
- Definition
Amount of the excess of a loan's cash flows expected to be collected over the investor's initial investment in acquired loans not accounted for as debt securities with evidence of deterioration of credit quality. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of decrease from accretion of the excess of a loan's cash flows expected to be collected over the investor's initial investment in acquired loans not accounted for as debt securities with evidence of deterioration of credit quality. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Investment in Receivable Portfolios, Net - Summary of Accretable Yield and an Estimate of Zero Basis Future Cash Flows (Parenthetical) (Detail) (USD $)
In Thousands, unless otherwise specified |
3 Months Ended | 9 Months Ended | 1 Months Ended | 3 Months Ended | 9 Months Ended | |||
|---|---|---|---|---|---|---|---|---|
|
Sep. 30, 2013
|
Sep. 30, 2012
|
Sep. 30, 2013
|
Sep. 30, 2012
|
Jul. 31, 2013
Cabot Acquisition [Member]
|
Sep. 30, 2013
Cabot Acquisition [Member]
|
Sep. 30, 2013
Cabot Acquisition [Member]
|
Sep. 30, 2013
Investment Receivables AACC [Member]
|
|
| Certain Loans Acquired In Transfer Not Accounted For As Debt Securities Carrying Amount Net [Line Items] | ||||||||
| Purchase price of receivable portfolios | $ 617,852 | $ 47,311 | $ 1,099,736 | $ 408,757 | $ 559,000 | $ 559,000 | $ 559,000 | $ 381,200 |
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Certain loans acquired in transfer not accounted for as debt securities, purchases of receivable portfolios. No definition available.
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Certain Loans Acquired In Transfer Not Accounted For As Debt Securities Foreign Currency Translation Adjustment No definition available.
|
| X | ||||||||||
|
- Definition
Certain loans acquired in transfer not accounted for as debt securities, gross collections. No definition available.
|
| X | ||||||||||
|
- Definition
Certain loans acquired in transfer not accounted for as debt securities, (portfolio allowances) portfolio allowance reversals, net. No definition available.
|
| X | ||||||||||
|
- Definition
Certain loans acquired in transfer not accounted for as debt securities, purchases of receivable portfolios. No definition available.
|
| X | ||||||||||
|
- Definition
Certain loans acquired in transfer not accounted for as debt securities, put-backs and recalls. No definition available.
|
| X | ||||||||||
|
- Definition
Certain loans acquired in transfer not accounted for as debt securities, revenue recognized. No definition available.
|
| X | ||||||||||
|
- Definition
Certain Loans Acquired In Transfer Not Accounted For As Debt Securities Transfers Of Receivable Portfolios Net No definition available.
|
| X | ||||||||||
|
- Definition
Revenue as a percentage of collections. No definition available.
|
| X | ||||||||||
|
- Definition
The recorded balance, net of any applicable reductions (for example, unamortized accretable yield and allowance for loan losses). This relates to loans not accounted for debt securities with evidence of deterioration of credit quality since origination that were acquired by completion of a transfer for which it is probable, at acquisition, that the investor will be unable to collect all contractually required payments receivable. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Investment in Receivable Portfolios, Net - Summary of Changes in Balance of Investment in Receivable Portfolios (Parenthetical) (Detail) (USD $)
In Thousands, unless otherwise specified |
3 Months Ended | 9 Months Ended | 1 Months Ended | 3 Months Ended | 9 Months Ended | |||
|---|---|---|---|---|---|---|---|---|
|
Sep. 30, 2013
|
Sep. 30, 2012
|
Sep. 30, 2013
|
Sep. 30, 2012
|
Jun. 30, 2013
AACC Merger [Member]
|
Jul. 31, 2013
Cabot Acquisition [Member]
|
Sep. 30, 2013
Cabot Acquisition [Member]
|
Sep. 30, 2013
Cabot Acquisition [Member]
|
|
| Certain Loans Acquired In Transfer Not Accounted For As Debt Securities Carrying Amount Net [Line Items] | ||||||||
| Purchase price of receivable portfolios | $ 617,852 | $ 47,311 | $ 1,099,736 | $ 408,757 | $ 381,200 | $ 559,000 | $ 559,000 | $ 559,000 |
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Certain loans acquired in transfer not accounted for as debt securities, purchases of receivable portfolios. No definition available.
|
|
Investment in Receivable Portfolios, Net - Summary of Change in Valuation Allowance for Investment in Receivable Portfolios (Detail) (USD $)
In Thousands, unless otherwise specified |
3 Months Ended | 9 Months Ended | ||
|---|---|---|---|---|
|
Sep. 30, 2013
|
Sep. 30, 2012
|
Sep. 30, 2013
|
Sep. 30, 2012
|
|
| Certain Loans Acquired In Transfer Not Accounted For As Debt Securities [Abstract] | ||||
| Balance at beginning of period | $ 100,593 | $ 108,705 | $ 105,273 | $ 109,494 |
| Provision for portfolio allowances | 1,616 | 479 | 5,491 | |
| Reversal of prior allowances | (2,978) | (2,333) | (8,137) | (6,997) |
| Balance at end of period | $ 97,615 | $ 107,988 | $ 97,615 | $ 107,988 |
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Reserve for loans impairments recorded after acquisition as a result of current information and events which result in it being probable that estimated cash flows will be less than previously expected or because actual cash flows are less than cash flows previously expected. This relates to loans not accounted for as debt securities, with evidence of deterioration of credit quality since origination that was acquired by completion of a transfer for which it is probable, at acquisition, that the investor will be unable to collect all contractually required payments receivable. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of reduction in the reserve for loans impairments as a result of current information and events which result in it being probable that estimated cash flows will be significantly higher than previously expected or because actual cash flows are significantly greater than cash flows previously expected for loans not accounted for as debt securities, with evidence of deterioration of credit quality since origination that was acquired by completion of a transfer for which it is probable, at acquisition, that the investor will be unable to collect all contractually required payments receivable. No definition available.
|
| X | ||||||||||
|
- Definition
Amount of expense related to loan loss not accounted for as debt securities, with evidence of deterioration of credit quality. No definition available.
|
|
Investment in Receivable Portfolios, Net - Summary of Total Collections by Collection Channel (Detail) (USD $)
In Thousands, unless otherwise specified |
3 Months Ended | 9 Months Ended | ||
|---|---|---|---|---|
|
Sep. 30, 2013
|
Sep. 30, 2012
|
Sep. 30, 2013
|
Sep. 30, 2012
|
|
| Collection Of Receivables [Line Items] | ||||
| Collection of receivables | $ 379,670 | $ 245,977 | $ 928,228 | $ 717,565 |
|
United States [Member]
|
||||
| Collection Of Receivables [Line Items] | ||||
| Collection of receivables | 312,243 | 245,977 | 860,801 | 717,565 |
|
United States [Member] | Legal collections [Member]
|
||||
| Collection Of Receivables [Line Items] | ||||
| Collection of receivables | 153,556 | 111,334 | 409,511 | 335,782 |
|
United States [Member] | Collection sites [Member]
|
||||
| Collection Of Receivables [Line Items] | ||||
| Collection of receivables | 119,080 | 116,928 | 362,495 | 338,439 |
|
United States [Member] | Collection agencies [Member]
|
||||
| Collection Of Receivables [Line Items] | ||||
| Collection of receivables | 39,607 | 17,715 | 88,795 | 43,344 |
|
United Kingdom [Member]
|
||||
| Collection Of Receivables [Line Items] | ||||
| Collection of receivables | 67,427 | 67,427 | ||
|
United Kingdom [Member] | Collection sites [Member]
|
||||
| Collection Of Receivables [Line Items] | ||||
| Collection of receivables | 37,931 | 37,931 | ||
|
United Kingdom [Member] | Collection agencies [Member]
|
||||
| Collection Of Receivables [Line Items] | ||||
| Collection of receivables | $ 29,496 | $ 29,496 | ||
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
The cash inflow associated with the proceeds from sale and collection of receivables during the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Receivables Secured by Property Tax Liens, Net - Additional Information (Detail)
|
Sep. 30, 2013
|
|---|---|
| Property Tax Payment Agreements Receivable Net [Abstract] | |
| Maximum rare lien to value ratio, percentage | 25.00% |
| Maximum typical lien to value ratio, percentage | 15.00% |
| X | ||||||||||
|
- Definition
Maximum percentage of general origination of tax lien transfer. No definition available.
|
| X | ||||||||||
|
- Definition
Maximum percentage of most origination of tax lien transfer. No definition available.
|
| X | ||||||||||
|
- Details
|
|
Receivables Secured by Property Tax Liens, Net - Aging Analysis of Receivables Secured by Tax Liens (Detail) (USD $)
In Thousands, unless otherwise specified |
Sep. 30, 2013
|
Dec. 31, 2012
|
|---|---|---|
| Financing Receivable Recorded Investment Aging[Line Items] | ||
| Receivables secured by tax liens | $ 186,190 | $ 135,100 |
|
Property tax payment agreements receivable [Member]
|
||
| Financing Receivable Recorded Investment Aging[Line Items] | ||
| Current | 113,985 | 101,052 |
| 31-60 days past due | 12,500 | 10,175 |
| 61-90 days past due | 4,269 | 1,982 |
| > 90 days past due | 24,530 | 21,891 |
|
Tax lien transfer [Member]
|
||
| Financing Receivable Recorded Investment Aging[Line Items] | ||
| Receivables secured by tax liens | 155,284 | 135,100 |
|
Tax lien certificates [Member]
|
||
| Financing Receivable Recorded Investment Aging[Line Items] | ||
| Receivables secured by tax liens | $ 30,906 |
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Property tax payment agreements receivable, net. No definition available.
|
| X | ||||||||||
|
- Definition
Financing receivables that are less than 60 days past due but more than 29 days past due. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Financing receivables that are less than 90 days past due but more than 59 days past due. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Financing receivables that are current. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Financing receivables that are equal to or greater than 90 days past due. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Deferred Court Costs, Net - Additional Information (Detail)
|
9 Months Ended |
|---|---|
|
Sep. 30, 2013
|
|
| Deferred Costs Capitalized Prepaid And Other Assets Disclosure [Abstract] | |
| Deferred Court Costs not recovered, years | 3 years |
| Extended Deferred Court Costs not recovered, years | 5 years |
| X | ||||||||||
|
- Definition
Deferred court costs not recovered write-off years. No definition available.
|
| X | ||||||||||
|
- Definition
Extended deferred court costs not recovered write-off years. No definition available.
|
| X | ||||||||||
|
- Details
|
|
Deferred Court Costs, Net - Schedule of Deferred Court Costs (Detail) (USD $)
In Thousands, unless otherwise specified |
Sep. 30, 2013
|
Jun. 30, 2013
|
Dec. 31, 2012
|
Sep. 30, 2012
|
Jun. 30, 2012
|
Dec. 31, 2011
|
|---|---|---|---|---|---|---|
| Deferred Costs Capitalized Prepaid And Other Assets Disclosure [Abstract] | ||||||
| Court costs advanced | $ 365,714 | $ 279,314 | ||||
| Court costs recovered | (132,750) | (94,827) | ||||
| Court costs reserve | (193,960) | (176,094) | (149,080) | (140,507) | (132,780) | (130,454) |
| Deferred court costs, net | $ 39,004 | $ 35,407 |
| X | ||||||||||
|
- Definition
Deferred court costs, advanced. No definition available.
|
| X | ||||||||||
|
- Definition
Net amount of deferred court costs capitalized at the end of reporting period. No definition available.
|
| X | ||||||||||
|
- Definition
Deferred court costs, recovered. No definition available.
|
| X | ||||||||||
|
- Definition
Deferred court costs, reserve. No definition available.
|
| X | ||||||||||
|
- Details
|
|
Deferred Court Costs, Net - Schedule of Court Cost Reserve (Detail) (USD $)
In Thousands, unless otherwise specified |
3 Months Ended | 9 Months Ended | ||
|---|---|---|---|---|
|
Sep. 30, 2013
|
Sep. 30, 2012
|
Sep. 30, 2013
|
Sep. 30, 2012
|
|
| Deferred Costs Capitalized Prepaid And Other Assets Disclosure [Abstract] | ||||
| Balance at beginning of period | $ (176,094) | $ (132,780) | $ (149,080) | $ (130,454) |
| Provision for court costs | (17,866) | (13,378) | (44,880) | (37,536) |
| Write-off of reserve after the deferral period | 5,651 | 27,483 | ||
| Balance at end of period | $ (193,960) | $ (140,507) | $ (193,960) | $ (140,507) |
| X | ||||||||||
|
- Definition
Deferred court costs, reserve. No definition available.
|
| X | ||||||||||
|
- Definition
Provision for court cost spent. No definition available.
|
| X | ||||||||||
|
- Definition
Write-off of reserve after the 36th month. No definition available.
|
| X | ||||||||||
|
- Details
|
|
Other Assets - Components of Other Assets (Detail) (USD $)
In Thousands, unless otherwise specified |
Sep. 30, 2013
|
Dec. 31, 2012
|
|---|---|---|
| Deferred Costs Capitalized Prepaid And Other Assets Disclosure [Abstract] | ||
| Debt issuance costs, net of amortization | $ 29,275 | $ 14,397 |
| Prepaid income taxes | 24,975 | |
| Deferred tax assets | 13,229 | |
| Service fee receivable | 12,662 | |
| Prepaid expenses | 12,710 | 6,399 |
| Identifiable intangible assets, net | 10,481 | 487 |
| Interest receivable | 6,851 | 4,042 |
| Security deposit-India building leases | 2,405 | 1,696 |
| Recoverable legal fees | 2,573 | 1,521 |
| Other | 5,280 | 2,993 |
| Total other assets | $ 120,441 | $ 31,535 |
| X | ||||||||||
|
- Definition
Recoverable legal fees. No definition available.
|
| X | ||||||||||
|
- Definition
Service Fee Receivable No definition available.
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
For an unclassified balance sheet, the carrying amount (net of accumulated amortization) as of the balance sheet date of capitalized costs associated with the issuance of debt instruments (for example, legal, accounting, underwriting, printing, and registration costs) that will be charged against earnings over the life of the debt instruments to which such costs pertain. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount after allocation of valuation allowances of deferred tax asset attributable to deductible temporary differences and carryforwards, net of deferred tax liability attributable to taxable temporary differences. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount after amortization of assets, excluding financial assets and goodwill, lacking physical substance with a finite life. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Carrying amount as of the balance sheet date of interest earned but not received. Also called accrued interest or accrued interest receivable. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The aggregate carrying amounts, as of the balance sheet date, of assets not separately disclosed in the balance sheet. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of other miscellaneous assets. No definition available.
|
| X | ||||||||||
|
- Definition
Carrying amount as of the balance sheet date of expenditures made in advance of when the economic benefit of the cost will be realized, and which will be expensed in future periods with the passage of time or when a triggering event occurs. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of asset related to consideration paid in advance for income and other taxes that provide economic benefits within a future period of one year or the normal operating cycle, if longer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The amount of an asset, typically cash, provided to a counterparty to provide certain assurance of performance by the entity pursuant to the terms of a written or oral agreement, such as a lease. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Debt - Components of Debt (Detail) (USD $)
In Thousands, unless otherwise specified |
Sep. 30, 2013
|
Dec. 31, 2012
|
|---|---|---|
| Debt Instrument [Line Items] | ||
| Encore revolving credit facility | $ 343,000 | $ 258,000 |
| Encore term loan facility | 166,813 | 148,125 |
| Encore senior secured notes | 62,500 | 72,500 |
| Encore convertible notes | 287,500 | 115,000 |
| Less: Debt discount | (43,846) | (14,442) |
| Add: Debt premium | 44,164 | |
| Preferred equity certificates | 190,279 | |
| Capital lease obligations | 6,920 | 9,252 |
| Debt and capital lease obligations, total | 1,806,680 | 706,036 |
|
Propel TLT Facility [Member]
|
||
| Debt Instrument [Line Items] | ||
| Encore revolving credit facility | 131,292 | 117,601 |
|
Propel TLC Facility [Member]
|
||
| Debt Instrument [Line Items] | ||
| Encore revolving credit facility | 26,977 | |
|
Cabot Senior Secured Notes [Member]
|
||
| Debt Instrument [Line Items] | ||
| Encore senior secured notes | $ 591,081 |
| X | ||||||||||
|
- Definition
Financing Obligations No definition available.
|
| X | ||||||||||
|
- Definition
Amount equal to the present value (the principal) at the beginning of the lease term of minimum lease payments during the lease term (excluding that portion of the payments representing executory costs such as insurance, maintenance, and taxes to be paid by the lessor, together with any profit thereon) net of payments or other amounts applied to the principal through the balance sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Sum of the carrying values as of the balance sheet date of all debt, including all short-term borrowings, long-term debt, and capital lease obligations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Face (par) amount of debt instrument at time of issuance. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
The amount of debt discount that was originally recognized at the issuance of the instrument that has yet to be amortized. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The amount of debt premium that was originally recognized at the issuance of the instrument that has yet to be amortized. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The carrying value as of the balance sheet date of the current and noncurrent portions of long-term obligations drawn from a line of credit, which is a bank's commitment to make loans up to a specific amount. Examples of items that might be included in the application of this element may consist of letters of credit, standby letters of credit, and revolving credit arrangements, under which borrowings can be made up to a maximum amount as of any point in time conditional on satisfaction of specified terms before, as of and after the date of drawdowns on the line. Includes short-term obligations that would normally be classified as current liabilities but for which (a) postbalance sheet date issuance of a long term obligation to refinance the short term obligation on a long term basis, or (b) the enterprise has entered into a financing agreement that clearly permits the enterprise to refinance the short-term obligation on a long term basis and the following conditions are met (1) the agreement does not expire within 1 year and is not cancelable by the lender except for violation of an objectively determinable provision, (2) no violation exists at the BS date, and (3) the lender has entered into the financing agreement is expected to be financially capable of honoring the agreement. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Including both current and noncurrent portions, carrying amount as of the balance sheet date of other forms of debt not elsewhere specified in the taxonomy with initial maturities beyond one year or beyond the normal operating cycle, if longer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Carrying value as of the balance sheet date, including the current and noncurrent portions, of collateralized debt obligations (with maturities initially due after one year or beyond the operating cycle, if longer). Such obligations include mortgage loans, chattel loans, and any other borrowings secured by assets of the borrower. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Debt - Additional Information (Detail) (USD $)
In Millions, unless otherwise specified |
9 Months Ended |
|---|---|
|
Sep. 30, 2013
|
|
| Debt Instrument [Line Items] | |
| Revolving credit facility | $ 613.9 |
| Subordinated debt basket | 300.0 |
| Percentage to be added to base rate for alternate base rate | 0.50% |
| Percentage to be added to adjusted base rate for alternate base rate | 1.00% |
|
Minimum [Member] | Five-year tranche, One [Member]
|
|
| Debt Instrument [Line Items] | |
| Basis spread on variable rate for the five-year tranches, One | 2.50% |
|
Minimum [Member] | Five-year tranche, Two [Member]
|
|
| Debt Instrument [Line Items] | |
| Basis spread on variable rate for the five-year tranches, One | 1.50% |
|
Maximum [Member] | Five-year tranche, One [Member]
|
|
| Debt Instrument [Line Items] | |
| Basis spread on variable rate for the five-year tranches, One | 3.00% |
|
Maximum [Member] | Five-year tranche, Two [Member]
|
|
| Debt Instrument [Line Items] | |
| Basis spread on variable rate for the five-year tranches, One | 2.00% |
|
Revolving credit facility [Member]
|
|
| Debt Instrument [Line Items] | |
| Maximum borrowing capacity including accordion agreement after amendment | 975.0 |
| Maturity of term loan facility and revolving credit facility | 5 years |
| Term loan facility and revolving credit facility expiry date | Nov. 01, 2017 |
| Revolving credit facility, initial amount of a sub-tranche of the term loan | 50.0 |
| Term loan maturity | 3 years |
| Term loan expiry date | November 2015 |
| Revolving credit facility | 613.9 |
| Revolving credit facility, description of loan | A revolving loan of $613.9 million, interest at a floating rate equal to, at the Company’s option, either: (1) reserve adjusted London Interbank Offered Rate (“LIBOR”), plus a spread that ranges from, depending on the Company’s cash flow leverage ratio, 250 to 300 basis points; or (2) Alternate Base Rate, plus a spread that ranges from, depending on the Company’s cash flow leverage ratio, 150 to 200 basis points. “Alternate Base Rate,” as defined in the agreement, means the highest of (i) the per annum rate which the administrative agent publicly announces from time to time as its prime lending rate, as in effect from time to time, (ii) the federal funds effective rate from time to time, plus 0.5% and (iii) reserved adjusted LIBOR determined on a daily basis for a one month interest period, plus 1.0%; |
|
Term Loan [Member]
|
|
| Debt Instrument [Line Items] | |
| Term loan facility tranche amount | 150.0 |
| Additional line of revolving credit facility | 162.5 |
|
Six-months term loan facility [Member]
|
|
| Debt Instrument [Line Items] | |
| Term loan facility tranche amount | $ 48.6 |
| Term loan facility and revolving credit facility expiry date | Nov. 01, 2013 |
| X | ||||||||||
|
- Definition
Additional Borrowing Capacity No definition available.
|
| X | ||||||||||
|
- Definition
Line of credit facility maximum borrowing capacity including accordion facility. No definition available.
|
| X | ||||||||||
|
- Definition
Maturity Period Of Term Loan Facility No definition available.
|
| X | ||||||||||
|
- Definition
Maturity period of term loan facility under subtranche. No definition available.
|
| X | ||||||||||
|
- Definition
Other Long Term Debt Original Amount No definition available.
|
| X | ||||||||||
|
- Definition
Other Long Term Debt Sub Tranche Expiration Date No definition available.
|
| X | ||||||||||
|
- Definition
Other Long Term Debt Sub Tranche Original Amount No definition available.
|
| X | ||||||||||
|
- Definition
Percentage to be added to adjusted base rate for alternate base rate. No definition available.
|
| X | ||||||||||
|
- Definition
Percentage to be added to base rate for alternate base rate. No definition available.
|
| X | ||||||||||
|
- Definition
Subordinated Debt Basket No definition available.
|
| X | ||||||||||
|
- Definition
Percentage points added to the reference rate to compute the variable rate on the debt instrument. No definition available.
|
| X | ||||||||||
|
- Definition
Description of the interest rate as being fixed or variable, and, if variable, identification of the index or rate on which the interest rate is based and the number of points or percentage added to that index or rate to set the rate, and other pertinent information, such as frequency of rate resets. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Date the credit facility terminates, in CCYY-MM-DD format. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Maximum borrowing capacity under the credit facility without consideration of any current restrictions on the amount that could be borrowed or the amounts currently outstanding under the facility. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Debt - Additional Information 1 (Detail) (USD $)
In Millions, unless otherwise specified |
9 Months Ended |
|---|---|
|
Sep. 30, 2013
|
|
|
Minimum [Member] | Five-year tranche, One [Member]
|
|
| Debt Instrument [Line Items] | |
| Basis spread on variable rate for the five-year tranches, One | 2.50% |
|
Minimum [Member] | Five-year tranche, Two [Member]
|
|
| Debt Instrument [Line Items] | |
| Basis spread on variable rate for the five-year tranches, One | 1.50% |
|
Maximum [Member] | Five-year tranche, One [Member]
|
|
| Debt Instrument [Line Items] | |
| Basis spread on variable rate for the five-year tranches, One | 3.00% |
|
Maximum [Member] | Five-year tranche, Two [Member]
|
|
| Debt Instrument [Line Items] | |
| Basis spread on variable rate for the five-year tranches, One | 2.00% |
|
Term loan two [Member]
|
|
| Debt Instrument [Line Items] | |
| Credit facility, description of loan | A $50.0 million three-year term loan, interest at a floating rate equal to, at the Company’s option, either: (1) reserve adjusted LIBOR, plus a spread that ranges from 200 to 250 basis points, depending on the Company’s cash flow leverage ratio; or (2) Alternate Base Rate, plus a spread that ranges from 100 to 150 basis points, depending on the Company’s cash flow leverage ratio. Principal amortizes $0.6 million in 2012, $2.5 million in 2013, $2.8 million in 2014, $2.8 million in 2015 with the remaining principal due at the end of the term; |
| Debt instrument base rate period | 3 years |
| Provisions of debt obligation of term loan, One | $ 50.0 |
| Principal amount amortized, 2012 | 0.6 |
| Principal amount amortized, 2013 | 2.5 |
| Principal amount amortized, 2014 | 2.8 |
| Principal amount amortized, 2015 | 2.8 |
|
Term loan two [Member] | Minimum [Member] | Five-year tranche, One [Member]
|
|
| Debt Instrument [Line Items] | |
| Basis spread on variable rate for the five-year tranches, One | 2.00% |
|
Term loan two [Member] | Minimum [Member] | Five-year tranche, Two [Member]
|
|
| Debt Instrument [Line Items] | |
| Basis spread on variable rate for the five-year tranches, One | 1.00% |
|
Term loan two [Member] | Maximum [Member] | Five-year tranche, One [Member]
|
|
| Debt Instrument [Line Items] | |
| Basis spread on variable rate for the five-year tranches, One | 2.50% |
|
Term loan two [Member] | Maximum [Member] | Five-year tranche, Two [Member]
|
|
| Debt Instrument [Line Items] | |
| Basis spread on variable rate for the five-year tranches, One | 1.50% |
|
Term loan one [Member]
|
|
| Debt Instrument [Line Items] | |
| Credit facility, description of loan | A $100.0 million five-year term loan, interest at a floating rate equal to, at the Company’s option, either: (1) reserve adjusted LIBOR, plus a spread that ranges from 250 to 300 basis points, depending on the Company’s cash flow leverage ratio; or (2) Alternate Base Rate, plus a spread that ranges from 150 to 200 basis points, depending on the Company’s cash flow leverage ratio. Principal amortizes $1.3 million in 2012, $5.0 million in 2013, $5.6 million in 2014, $8.1 million in 2015, $10.0 million in 2016 and $5.0 million in 2017 with the remaining principal due at the end of the term; |
| Debt instrument base rate period | 5 years |
| Provisions of debt obligation of term loan, One | 100.0 |
| Principal amount amortized, 2012 | 1.3 |
| Principal amount amortized, 2013 | 5.0 |
| Principal amount amortized, 2014 | 5.6 |
| Principal amount amortized, 2015 | 8.1 |
| Principal amount amortized, 2016 | 10.0 |
| Principal amount amortized, 2017 | 5.0 |
|
Term loan one [Member] | Minimum [Member] | Five-year tranche, One [Member]
|
|
| Debt Instrument [Line Items] | |
| Basis spread on variable rate for the five-year tranches, One | 2.50% |
|
Term loan one [Member] | Minimum [Member] | Five-year tranche, Two [Member]
|
|
| Debt Instrument [Line Items] | |
| Basis spread on variable rate for the five-year tranches, One | 1.50% |
|
Term loan one [Member] | Maximum [Member] | Five-year tranche, One [Member]
|
|
| Debt Instrument [Line Items] | |
| Basis spread on variable rate for the five-year tranches, One | 3.00% |
|
Term loan one [Member] | Maximum [Member] | Five-year tranche, Two [Member]
|
|
| Debt Instrument [Line Items] | |
| Basis spread on variable rate for the five-year tranches, One | 2.00% |
|
Term loan three [Member]
|
|
| Debt Instrument [Line Items] | |
| Credit facility, description of loan | A $48.6 million six-month term loan, interest at a floating rate equal to, at the Company's option, either (1) reserve adjusted LIBOR, plus a spread that ranges from 250 to 300 basis points, depending on the Company's cash flow leverage ratio; or (2) Alternate Base Rate, plus a spread that ranges from 150 to 200 basis points, depending on the Company's cash flow leverage ratio. Principal amortizes in six equal monthly installments; |
| Debt instrument base rate period | 6 months |
| Provisions of debt obligation of term loan, One | $ 48.6 |
|
Term loan three [Member] | Minimum [Member] | Five-year tranche, One [Member]
|
|
| Debt Instrument [Line Items] | |
| Basis spread on variable rate for the five-year tranches, One | 2.50% |
|
Term loan three [Member] | Minimum [Member] | Five-year tranche, Two [Member]
|
|
| Debt Instrument [Line Items] | |
| Basis spread on variable rate for the five-year tranches, One | 1.50% |
|
Term loan three [Member] | Maximum [Member] | Five-year tranche, One [Member]
|
|
| Debt Instrument [Line Items] | |
| Basis spread on variable rate for the five-year tranches, One | 3.00% |
|
Term loan three [Member] | Maximum [Member] | Five-year tranche, Two [Member]
|
|
| Debt Instrument [Line Items] | |
| Basis spread on variable rate for the five-year tranches, One | 2.00% |
| X | ||||||||||
|
- Definition
Other Long Term Debt Original Amount No definition available.
|
| X | ||||||||||
|
- Definition
Percentage points added to the reference rate to compute the variable rate on the debt instrument. No definition available.
|
| X | ||||||||||
|
- Definition
Description of the interest rate as being fixed or variable, and, if variable, identification of the index or rate on which the interest rate is based and the number of points or percentage added to that index or rate to set the rate, and other pertinent information, such as frequency of rate resets. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Period of time between issuance and maturity of debt instrument, in PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents the reported fact of one year, five months, and thirteen days. No definition available.
|
| X | ||||||||||
|
- Definition
Amount of long-term debt, sinking fund requirements, and other securities redeemable at fixed or determinable prices and dates maturing after the fifth fiscal year following the latest fiscal year. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of long-term debt, sinking fund requirements, and other securities redeemable at fixed or determinable prices and dates maturing in the next fiscal year following the latest fiscal year. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of long-term debt, sinking fund requirements, and other securities redeemable at fixed or determinable prices and dates maturing in the fifth fiscal year following the latest fiscal year. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of long-term debt, sinking fund requirements, and other securities redeemable at fixed or determinable prices and dates maturing in the fourth fiscal year following the latest fiscal year. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of long-term debt, sinking fund requirements, and other securities redeemable at fixed or determinable prices and dates maturing in the third fiscal year following the latest fiscal year. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of long-term debt, sinking fund requirements, and other securities redeemable at fixed or determinable prices and dates maturing in the second fiscal year following the latest fiscal year. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Debt - Additional Information 2 (Detail) (USD $)
In Millions, unless otherwise specified |
1 Months Ended | 3 Months Ended | 9 Months Ended | |
|---|---|---|---|---|
|
Jan. 31, 2013
|
Dec. 31, 2012
|
Sep. 30, 2013
|
Sep. 30, 2012
|
|
| Debt Disclosure [Abstract] | ||||
| Eligible estimated remaining collections for consumer receivables | 55.00% | |||
| Total estimated remaining collections | 35.00% | |||
| Borrowing base as percentage of eligible estimated collection range start | 30.00% | |||
| Borrowing base as percentage of eligible estimated collection range end | 35.00% | |||
| Percentage of eligible estimated remaining collections | 33.00% | |||
| Percentage of multiplying factor | 95.00% | |||
| Borrowing base description | A borrowing base equal to (1) the lesser of (i) (a) 55% of eligible estimated remaining collections for consumer receivables subject to bankruptcy proceedings, provided that the amount described in this clause (i)(a) may not exceed 35% of the amount described in clauses (i)(a) and (i)(b), plus (b) 30%—35% (depending on the Company’s trailing 12-month cost per dollar collected) of all other eligible estimated remaining collections, initially set at 33%, and (ii) the product of the net book value of all receivable portfolios acquired on or after January 1, 2005 multiplied by 95%, minus (2) (x) the aggregate principal amount outstanding of the Prudential senior secured notes plus (y) the aggregate principal amount outstanding under the term loans | |||
| Allowance of additional unsecured indebtedness | $ 300.0 | |||
| Company's repurchases, common stock | 50.0 | |||
| Cost of common stock shares repurchased | 50.0 | 50.0 | ||
| Repurchase of common stock | 50.0 | |||
| Percentage of acquisitions excluded | 50.00% | |||
| Acquisition limit | 100.0 | |||
| Amount outstanding | $ 509.8 | |||
| Revolving credit facility, interest rate | 3.13% | 4.13% |
| X | ||||||||||
|
- Definition
Acquisition Limit No definition available.
|
| X | ||||||||||
|
- Definition
Borrowing base as percentage of eligible estimated collection range start No definition available.
|
| X | ||||||||||
|
- Definition
Borrowing base as percentage of eligible estimated collection range end. No definition available.
|
| X | ||||||||||
|
- Definition
Debt instrument borrowing base as percentage of receivables. No definition available.
|
| X | ||||||||||
|
- Definition
Debt instrument covenant percentage of receivables. No definition available.
|
| X | ||||||||||
|
- Definition
Maximum Additional Unsecured Debt No definition available.
|
| X | ||||||||||
|
- Definition
Other Long Term Debt And Line Of Credit Facility Amount Outstanding No definition available.
|
| X | ||||||||||
|
- Definition
Percentage of eligible estimated remaining collections. No definition available.
|
| X | ||||||||||
|
- Definition
Percentage of multiplying factor. No definition available.
|
| X | ||||||||||
|
- Definition
Percentage Of Outstanding Voting Stock No definition available.
|
| X | ||||||||||
|
- Definition
Stock repurchase program maximum amount of common stock. No definition available.
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Weighted average interest rate of debt outstanding. No definition available.
|
| X | ||||||||||
|
- Definition
Description of the credit facility's borrowing capacity including discussion of how the borrowing capacity is determined (for example, borrowing capacity based on the amount of current assets). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Equity impact of the value of stock that has been repurchased during the period and has not been retired and is not held in treasury. Some state laws may mandate the circumstances under which an entity may acquire its own stock and prescribe the accounting treatment therefore. This element is used when state law does not recognize treasury stock. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of a stock repurchase plan authorized by an entity's Board of Directors. No definition available.
|
|
Debt - Additional Information 3 (Detail)
|
9 Months Ended | 9 Months Ended | 0 Months Ended | 9 Months Ended | 9 Months Ended | 9 Months Ended | 6 Months Ended | 9 Months Ended | ||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|
Sep. 30, 2013
USD ($)
|
Sep. 30, 2012
USD ($)
|
Dec. 31, 2012
USD ($)
|
Sep. 30, 2013
2011 Senior Secured Notes [Member]
USD ($)
|
Sep. 30, 2013
2010 Senior Secured Notes [Member]
USD ($)
|
Sep. 20, 2012
Cabot 2019 Notes [Member]
GBP (£)
|
Aug. 02, 2013
Cabot 2020 Notes [Member]
USD ($)
|
Aug. 02, 2013
Cabot 2020 Notes [Member]
GBP (£)
|
Sep. 30, 2013
J Bridge PECs [Member]
GBP (£)
|
Sep. 20, 2012
Cabot Credit Agreement [Member]
GBP (£)
|
Sep. 30, 2013
Cabot Credit Facility [Member]
|
Jun. 28, 2013
Cabot Credit Facility [Member]
GBP (£)
|
Sep. 30, 2013
Cabot Corporation [Member]
GBP (£)
|
Sep. 30, 2013
Minimum [Member]
LIBOR [Member]
|
Sep. 30, 2013
Minimum [Member]
Prime Rate [Member]
|
Sep. 30, 2013
Maximum [Member]
LIBOR [Member]
|
Sep. 30, 2013
Maximum [Member]
Prime Rate [Member]
|
Sep. 30, 2013
Propel facility [Member]
|
Sep. 30, 2013
Propel TLT Facility [Member]
USD ($)
|
Sep. 30, 2012
Propel TLT Facility [Member]
|
Jun. 30, 2013
Propel TLC Facility [Member]
|
May 09, 2013
Propel TLC Facility [Member]
USD ($)
|
Sep. 09, 2013
Propel TLC Facility [Member]
LIBOR [Member]
|
Sep. 30, 2013
Propel TLC Facility [Member]
Maximum [Member]
USD ($)
|
|
| Debt Instrument [Line Items] | ||||||||||||||||||||||||
| Senior Secured Notes | $ 62,500,000 | $ 25,000,000 | $ 50,000,000 | |||||||||||||||||||||
| Senior Secured Notes, aggregate amount | 75,000,000 | |||||||||||||||||||||||
| Senior Secured Notes, stated percentage | 12.00% | 7.375% | 7.75% | 10.375% | 8.375% | |||||||||||||||||||
| Senior Secured Notes, periodic principal repayment | 1,250,000 | 2,500,000 | ||||||||||||||||||||||
| Frequency of repayment, Senior Secured Notes | Quarterly | |||||||||||||||||||||||
| Senior Secured Notes, date of first required payment | May 01, 2013 | Dec. 01, 2012 | ||||||||||||||||||||||
| Debt instrument maturity date | 2018 | 2017 | 2019 | |||||||||||||||||||||
| Debt instrument description of discount rate | The discount rate used to determine the present value is 50 basis points over the then current Treasury Rate corresponding to the remaining average life | |||||||||||||||||||||||
| Basis spread over the current Treasury Rate | 0.50% | |||||||||||||||||||||||
| Financing acquisition through syndicated loan facility | 613,900,000 | 50,000,000 | 85,000,000 | 160,000,000 | 100,000,000 | |||||||||||||||||||
| Debt instrument base rate period | 3 years | 4 years | ||||||||||||||||||||||
| Interest at Propel's option, Variable rate, plus a spread | 4.00% | 3.00% | 0.00% | 3.75% | 0.75% | 3.25% | ||||||||||||||||||
| Borrowing base of the face value of the tax lien collateralized notes | 90.00% | |||||||||||||||||||||||
| Propel Facility, accordion feature | 40,000,000 | |||||||||||||||||||||||
| Amount outstanding | 509,800,000 | 131,300,000 | 27,000,000 | |||||||||||||||||||||
| Weighted average interest rate | 3.13% | 4.13% | 3.64% | 3.54% | 5.34% | |||||||||||||||||||
| Aggregate principal amount of senior notes | 287,500,000 | 115,000,000 | 265,000,000 | 100,000,000 | ||||||||||||||||||||
| Debt instrument interest payment date | Interest on the Cabot 2019 Notes is payable semi-annually, in arrears, on April 1 and October 1 of each year. | Interest on the Cabot 2020 Notes is payable semi-annually, in arrears, on February 1 and August 1 of each year, beginning on February 1, 2014. | ||||||||||||||||||||||
| Debt issuance cost | 4,900,000 | |||||||||||||||||||||||
| Repayment of senior credit facility | 491,462,000 | 163,048,000 | 75,000,000 | |||||||||||||||||||||
| Repayment of J Bridge PECs | $ 39,743,000 | £ 25,000,000 | ||||||||||||||||||||||
| Maturity period of credit facility | 5 years | |||||||||||||||||||||||
| Credit facility expiry date | Sep. 01, 2017 | |||||||||||||||||||||||
| LTV ratio | 75.00% | |||||||||||||||||||||||
| X | ||||||||||
|
- Definition
Borrowing base of the face value of the tax lien collateralized notes. No definition available.
|
| X | ||||||||||
|
- Definition
Debt Instrument Interest Payments Date No definition available.
|
| X | ||||||||||
|
- Definition
Debt Instrument Maturity Year No definition available.
|
| X | ||||||||||
|
- Definition
Description Of Present Value Calculation Of Remaining Debt Payments No definition available.
|
| X | ||||||||||
|
- Definition
Line Of Credit Facility Time Period No definition available.
|
| X | ||||||||||
|
- Definition
Maximum Loan To Value Ratio No definition available.
|
| X | ||||||||||
|
- Definition
Other Long Term Debt And Line Of Credit Facility Amount Outstanding No definition available.
|
| X | ||||||||||
|
- Definition
Propel facility accordion feature. No definition available.
|
| X | ||||||||||
|
- Definition
Senior Notes Original Amount No definition available.
|
| X | ||||||||||
|
- Definition
Senior secured notes present value inputs discount rate spread. No definition available.
|
| X | ||||||||||
|
- Definition
Percentage points added to the reference rate to compute the variable rate on the debt instrument. No definition available.
|
| X | ||||||||||
|
- Definition
Date the debt agreement requires the first payment to be made, in CCYY-MM-DD format. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Face (par) amount of debt instrument at time of issuance. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Description of the frequency of periodic payments (monthly, quarterly, annual). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Contractual interest rate for funds borrowed, under the debt agreement. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Amount of the required periodic payments applied to principal. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Period of time between issuance and maturity of debt instrument, in PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents the reported fact of one year, five months, and thirteen days. No definition available.
|
| X | ||||||||||
|
- Definition
Amount of debt issuance costs (for example, but not limited to, legal, accounting, broker, and regulatory fees). No definition available.
|
| X | ||||||||||
|
- Definition
Weighted average interest rate of debt outstanding. No definition available.
|
| X | ||||||||||
|
- Definition
Date the credit facility terminates, in CCYY-MM-DD format. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Maximum borrowing capacity under the credit facility without consideration of any current restrictions on the amount that could be borrowed or the amounts currently outstanding under the facility. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The cash outflow for the settlement of obligation drawn from a contractual arrangement with the lender, including letter of credit, standby letter of credit and revolving credit arrangements, under which borrowings can be made up to a specific amount at any point in time with maturities due beyond one year or the operating cycle, if longer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The cash outflow for the payment of other borrowing not otherwise defined in the taxonomy. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Including the current and noncurrent portions, carrying value as of the balance sheet date of Notes with the highest claim on the assets of the issuer in case of bankruptcy or liquidation (with maturities initially due after one year or beyond the operating cycle if longer). Senior note holders are paid off in full before any payments are made to junior note holders. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Debt - Additional Information 4 (Detail) (USD $)
Share data in Thousands, except Per Share data, unless otherwise specified |
1 Months Ended | 3 Months Ended | 9 Months Ended | 0 Months Ended | 1 Months Ended | 3 Months Ended | 9 Months Ended | 0 Months Ended | 1 Months Ended | 9 Months Ended | ||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|
Aug. 30, 2013
|
Sep. 30, 2013
|
Sep. 30, 2013
|
Dec. 31, 2012
|
Jul. 02, 2013
Janus Holdings [Member]
|
Jul. 02, 2013
Cabot Credit Management [Member]
Janus Holdings [Member]
|
Nov. 27, 2012
2017 Convertible Senior Notes [Member]
|
Jun. 30, 2012
2017 Convertible Senior Notes [Member]
|
Nov. 27, 2012
2017 Convertible Senior Notes [Member]
|
Sep. 30, 2013
2017 Convertible Senior Notes [Member]
|
Sep. 30, 2013
2017 Convertible Senior Notes [Member]
|
Jul. 18, 2013
2020 Convertible Senior Notes [Member]
|
Jun. 24, 2013
2020 Convertible Senior Notes [Member]
|
Jun. 24, 2013
2020 Convertible Senior Notes [Member]
|
Sep. 30, 2013
2020 Convertible Senior Notes [Member]
|
Sep. 30, 2013
Computer equipment [Member]
|
|
| Debt Instrument [Line Items] | ||||||||||||||||
| Proceeds from issuance of additional convertible senior notes | $ 172,500,000 | $ 100,000,000 | $ 15,000,000 | $ 22,500,000 | $ 150,000,000 | |||||||||||
| Interest rate of PEC | 12.00% | 12.00% | 3.00% | 3.00% | 3.00% | 3.00% | ||||||||||
| Maturity date of 3.0% convertible senior notes | Nov. 27, 2017 | Jul. 01, 2020 | ||||||||||||||
| Convertible senior notes outstanding | 287,500,000 | 287,500,000 | 115,000,000 | 115,000,000 | 115,000,000 | 172,500,000 | ||||||||||
| Debt instrument interest payment date | Interest on the 2017 Convertible Notes is payable semi-annually, in arrears, on May 27 and November 27 of each year | Interest on the 2020 Convertible Notes is payable semi-annually, in arrears, on January 1 and July 1 of each year | ||||||||||||||
| Initial conversion rate | 31.6832 | 21.8718 | ||||||||||||||
| Convertible senior notes, principal amount | 1,000 | 1,000 | 1,000 | 1,000 | ||||||||||||
| Initial conversion price per share | $ 31.56 | $ 31.56 | $ 31.56 | $ 31.56 | $ 45.72 | $ 45.72 | ||||||||||
| Dilutive effect of convertible senior notes | 805 | 298 | 800 | 300 | ||||||||||||
| Strike price of the Warrant Transactions per share | $ 44.1875 | |||||||||||||||
| Effective conversion price of Notes per share | $ 44.1875 | $ 44.1875 | ||||||||||||||
| Average share price of common stock | $ 44.1875 | $ 44.1875 | ||||||||||||||
| Capped Call Transactions cost | 18,100,000 | |||||||||||||||
| Cap price of capped call transactions per share | $ 61.5475 | |||||||||||||||
| Proceeds from sale of Notes | 167,400,000 | |||||||||||||||
| Net proceeds used for payment of convertible note hedge transaction cost | 18,100,000 | |||||||||||||||
| Fair value of notes | 140,200,000 | |||||||||||||||
| Residual value | 46,954,000 | 46,954,000 | 14,702,000 | 32,300,000 | ||||||||||||
| Debt issuance cost | 4,900,000 | |||||||||||||||
| Initial debt issuance costs | 6,000,000 | |||||||||||||||
| Equity issuance cost | 1,100,000 | |||||||||||||||
| Effective interest rate on the liability component | 6.00% | 6.00% | 6.35% | |||||||||||||
| Percentage of equity interest acquired | 50.10% | |||||||||||||||
| Minority interest percentage | 49.90% | |||||||||||||||
| Repayment of J Bridge PECs | 41,200,000 | |||||||||||||||
| Preferred equity certificates | 190,279,000 | 190,279,000 | ||||||||||||||
| Capital lease obligations | $ 6,920,000 | $ 6,920,000 | $ 9,252,000 | $ 6,900,000 | ||||||||||||
| Capital lease obligations, minimum percentage | 0.00% | |||||||||||||||
| Capital lease obligations, maximum percentage | 7.70% | |||||||||||||||
| X | ||||||||||
|
- Definition
Business Acquisition Percentage Of Equity Interests Acquired No definition available.
|
| X | ||||||||||
|
- Definition
Capped Call Transactions No definition available.
|
| X | ||||||||||
|
- Definition
Capped Call Transactions Cap Price No definition available.
|
| X | ||||||||||
|
- Definition
Debt instrument convertible effective conversion price. No definition available.
|
| X | ||||||||||
|
- Definition
Debt instrument convertible principal amount converted for conversation ratio. No definition available.
|
| X | ||||||||||
|
- Definition
Debt Instrument Interest Payments Date No definition available.
|
| X | ||||||||||
|
- Definition
Financing Obligations No definition available.
|
| X | ||||||||||
|
- Definition
Initial debt issuance costs. No definition available.
|
| X | ||||||||||
|
- Definition
Net proceeds used for payment of convertible note hedge transaction cost. No definition available.
|
| X | ||||||||||
|
- Definition
Notes Payable Fair Value Disclosure At Issuance No definition available.
|
| X | ||||||||||
|
- Definition
Payment For Partial Redemption Of Debt No definition available.
|
| X | ||||||||||
|
- Definition
Proceeds from sale of notes net of discount and issuance cost. No definition available.
|
| X | ||||||||||
|
- Definition
Strike price of the warrant transactions. No definition available.
|
| X | ||||||||||
|
- Definition
Amount equal to the present value (the principal) at the beginning of the lease term of minimum lease payments during the lease term (excluding that portion of the payments representing executory costs such as insurance, maintenance, and taxes to be paid by the lessor, together with any profit thereon) net of payments or other amounts applied to the principal through the balance sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The carrying amount of the equity component of convertible debt which may be settled in cash upon conversion. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The price per share of the conversion feature embedded in the debt instrument. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Ratio applied to the conversion of debt instrument into equity with equity shares divided by debt principal amount. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Face (par) amount of debt instrument at time of issuance. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Effective interest rate for the funds borrowed under the debt agreement considering interest compounding and original issue discount or premium. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Contractual interest rate for funds borrowed, under the debt agreement. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Maximum contractual interest rate for funds borrowed, under the debt agreement. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Minimum contractual interest rate for funds borrowed, under the debt agreement. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Date when the debt instrument is scheduled to be fully repaid, in CCYY-MM-DD format. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of debt issuance costs (for example, but not limited to, legal, accounting, broker, and regulatory fees). No definition available.
|
| X | ||||||||||
|
- Definition
Additional shares included in the calculation of diluted EPS as a result of the potentially dilutive effect of convertible debt securities using the if-converted method. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The equity interest of noncontrolling shareholders, partners or other equity holders in consolidated entity. No definition available.
|
| X | ||||||||||
|
- Definition
The cash outflow for cost incurred directly with the issuance of an equity security. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The cash inflow from the issuance of a long-term debt instrument which can be exchanged for a specified amount of another security, typically the entity's common stock, at the option of the issuer or the holder. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Price of a single share of a number of saleable stocks of a company. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Debt - Balances of the Liability and Equity Components (Detail) (USD $)
In Thousands, unless otherwise specified |
Sep. 30, 2013
|
Dec. 31, 2012
|
|---|---|---|
| Debt Disclosure [Abstract] | ||
| Liability component-principal amount | $ 287,500 | $ 115,000 |
| Unamortized debt discount | (43,846) | (14,442) |
| Liability component-net carrying amount | 243,654 | 100,558 |
| Equity component | $ 46,954 | $ 14,702 |
| X | ||||||||||
|
- Definition
Carrying value as of the balance sheet date of long-term debt (with maturities initially due after one year or beyond the operating cycle if longer) identified as Convertible Notes Payable, excluding current portion. Convertible Notes Payable is a written promise to pay a note which can be exchanged for a specified amount of another, related security, at the option of the issuer and the holder. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
The carrying amount of the equity component of convertible debt which may be settled in cash upon conversion. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Face (par) amount of debt instrument at time of issuance. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The amount of debt discount that was originally recognized at the issuance of the instrument that has yet to be amortized. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Debt - Interest Expense (Detail) (USD $)
In Thousands, unless otherwise specified |
3 Months Ended | 9 Months Ended |
|---|---|---|
|
Sep. 30, 2013
|
Sep. 30, 2013
|
|
|
Convertible notes [Member]
|
||
| Debt Instrument [Line Items] | ||
| Interest expense - stated coupon rate | $ 2,141 | $ 3,947 |
| Interest expense - amortization/appreciation of debt discount/premium | 1,570 | 2,887 |
| Total interest expense - convertible notes | 3,711 | 6,834 |
|
Cabot Senior Secured Notes [Member]
|
||
| Debt Instrument [Line Items] | ||
| Interest expense - stated coupon rate | 12,857 | |
| Interest expense - amortization/appreciation of debt discount/premium | (1,367) | |
| Total interest expense - convertible notes | $ 11,490 |
| X | ||||||||||
|
- Definition
Amount of noncash expense included in interest expense to amortize debt discount and premium associated with the related debt instruments. Excludes amortization of financing costs. Alternate captions include noncash interest expense. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Amount of the cost of borrowed funds accounted for as interest expense for debt. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Represents the portion of interest incurred in the period on debt arrangements that was charged against earnings, excluding amortization of debt discount (premium) and financing costs. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Variable Interest Entity - Assets and Liabilities of Variable Interest Entity (Detail) (USD $)
In Thousands, unless otherwise specified |
Sep. 30, 2013
|
Jun. 30, 2013
|
Dec. 31, 2012
|
Sep. 30, 2012
|
Jun. 30, 2012
|
Dec. 31, 2011
|
||||
|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||
| Cash and cash equivalents | $ 110,156 | $ 17,510 | $ 19,263 | $ 8,047 | ||||||
| Investment in receivable portfolios, net | 1,595,642 | 1,096,698 | 873,119 | 811,620 | 869,859 | 716,454 | ||||
| Property and equipment, net | 50,050 | 23,223 | ||||||||
| Other assets | 120,441 | 31,535 | ||||||||
| Goodwill | 489,520 | 55,446 | ||||||||
| Total assets | 2,591,003 | [1] | 1,171,340 | [1] | ||||||
| Liabilities | ||||||||||
| Accounts payable and accrued liabilities | 106,632 | 45,450 | ||||||||
| Deferred tax liabilities, net | 110,453 | 8,236 | ||||||||
| Debt | 1,806,680 | 706,036 | ||||||||
| Other liabilities | 6,967 | 5,802 | ||||||||
| Total liabilities | 2,030,732 | [1] | 765,524 | [1] | ||||||
|
Janus Holdings [Member]
|
||||||||||
| Assets | ||||||||||
| Cash and cash equivalents | 54,584 | |||||||||
| Investment in receivable portfolios, net | 596,160 | |||||||||
| Property and equipment, net | 14,249 | |||||||||
| Other assets | 32,102 | |||||||||
| Goodwill | 369,912 | |||||||||
| Total assets | 1,067,007 | |||||||||
| Liabilities | ||||||||||
| Accounts payable and accrued liabilities | 31,817 | |||||||||
| Deferred tax liabilities, net | 6,978 | |||||||||
| Debt | 825,524 | |||||||||
| Other liabilities | 113 | |||||||||
| Total liabilities | $ 864,432 | |||||||||
|
||||||||||
| X | ||||||||||
|
- Definition
Sum of the carrying values as of the balance sheet date of obligations incurred through that date, including liabilities incurred and payable to vendors for goods and services received, taxes, interest, rent and utilities, compensation costs, payroll taxes and fringe benefits (other than pension and postretirement obligations), contractual rights and obligations, and statutory obligations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Sum of the carrying amounts as of the balance sheet date of all assets that are recognized. Assets are probable future economic benefits obtained or controlled by an entity as a result of past transactions or events. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Amount of currency on hand as well as demand deposits with banks or financial institutions. Includes other kinds of accounts that have the general characteristics of demand deposits. Also includes short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Excludes cash and cash equivalents within disposal group and discontinued operation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The recorded balance, net of any applicable reductions (for example, unamortized accretable yield and allowance for loan losses). This relates to loans not accounted for debt securities with evidence of deterioration of credit quality since origination that were acquired by completion of a transfer for which it is probable, at acquisition, that the investor will be unable to collect all contractually required payments receivable. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Sum of the carrying values as of the balance sheet date of all debt, including all short-term borrowings, long-term debt, and capital lease obligations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of deferred tax liability attributable to taxable temporary differences. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount after accumulated impairment loss of an asset representing future economic benefits arising from other assets acquired in a business combination that are not individually identified and separately recognized. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Sum of the carrying amounts as of the balance sheet date of all liabilities that are recognized. Liabilities are probable future sacrifices of economic benefits arising from present obligations of an entity to transfer assets or provide services to other entities in the future. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
The aggregate carrying amounts, as of the balance sheet date, of assets not separately disclosed in the balance sheet. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The aggregate carrying amount, as of the balance sheet date, of liabilities not separately disclosed in the balance sheet. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount after accumulated depreciation, depletion and amortization of physical assets used in the normal conduct of business to produce goods and services and not intended for resale. Examples include, but are not limited to, land, buildings, machinery and equipment, office equipment, and furniture and fixtures. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Variable Interest Entity - Additional Information (Detail) (Cabot Credit Management [Member], Janus Holdings [Member])
|
Jul. 02, 2013
|
|---|---|
|
Cabot Credit Management [Member] | Janus Holdings [Member]
|
|
| Variable Interest Entities Not Consolidated [Line Items] | |
| Percentage of equity interest acquired | 50.10% |
| X | ||||||||||
|
- Definition
Business Acquisition Percentage Of Equity Interests Acquired No definition available.
|
| X | ||||||||||
|
- Details
|
|
Income Taxes - Additional Information (Detail) (USD $)
|
3 Months Ended | 9 Months Ended | ||
|---|---|---|---|---|
|
Sep. 30, 2013
|
Sep. 30, 2012
|
Sep. 30, 2013
|
Sep. 30, 2012
|
|
| Income Tax Disclosure [Abstract] | ||||
| Provision for income taxes | $ 10,272,000 | $ 13,887,000 | $ 30,110,000 | $ 38,393,000 |
| Income tax holiday, description | The Company's subsidiary in Costa Rica is operating under a 100% tax holiday through December 31, 2018 and a 50% tax holiday for the subsequent four years. The impact of the tax holiday in Costa Rica for the three and nine months ended September 30, 2013 and 2012 was immaterial. | |||
| Unrecognized tax benefit | 17,600,000 | 17,600,000 | ||
| Net tax benefit from unrecognized tax benefits, if recognized | 15,300,000 | 15,300,000 | ||
| Increase in gross unrecognized tax benefit | 2,200,000 | 2,200,000 | ||
| Undistributed earnings | $ 1,500,000 | $ 4,700,000 | ||
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
A description of the factual circumstances giving rise to an income tax exemption or special reduction received from a taxing jurisdiction. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The earnings that is allocated to common stock and participating securities to the extent that each security may share in earnings as if all of the earnings for the period had been distributed. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of unrecognized tax benefits pertaining to uncertain tax positions taken in tax returns. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The net amount of all increases and decreases in unrecognized tax benefits for the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The total amount of unrecognized tax benefits that, if recognized, would affect the effective tax rate. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Income Taxes -Schedule of Effective Tax Rates (Detail)
|
3 Months Ended | 9 Months Ended | ||
|---|---|---|---|---|
|
Sep. 30, 2013
|
Sep. 30, 2012
|
Sep. 30, 2013
|
Sep. 30, 2012
|
|
| Income Tax Disclosure [Abstract] | ||||
| Federal provision | 35.00% | 35.00% | 35.00% | 35.00% |
| State provision | 5.20% | 6.50% | 5.20% | 6.50% |
| State benefit | (1.80%) | (2.30%) | (1.80%) | (2.30%) |
| Changes in state apportionment | (4.00%) | (0.50%) | (1.70%) | 0.70% |
| Tax reserves | 1.80% | 0.00% | 0.70% | 0.00% |
| International provision | (4.80%) | (0.50%) | (2.00%) | (0.60%) |
| Permanent items | 1.10% | 1.30% | 1.30% | 0.40% |
| Effective rate | 32.50% | 39.50% | 36.70% | 39.70% |
| X | ||||||||||
|
- Definition
Benefit For State Taxes No definition available.
|
| X | ||||||||||
|
- Definition
Effective Income Tax Rate Reconciliation Tax Reserves No definition available.
|
| X | ||||||||||
|
- Definition
Percentage of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Percentage of domestic federal statutory tax rate applicable to pretax income (loss). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Percentage of the difference between reported income tax expense (benefit) and expected income tax expense (benefit) computed by applying the domestic federal statutory income tax rates to pretax income (loss) from continuing operations attributable to changes in the income tax rates. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Percentage of the difference between reported income tax expense (benefit) and expected income tax expense (benefit) computed by applying the domestic federal statutory income tax rates to pretax income (loss) from continuing operations applicable to statutory income tax expense (benefit) outside of the country of domicile. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Percentage of the difference between reported income tax expense (benefit) and expected income tax expense (benefit) computed by applying the domestic federal statutory income tax rates to pretax income (loss) from continuing operations attributable to nondeductible expenses. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Percentage of the difference between reported income tax expense (benefit) and expected income tax expense (benefit) computed by applying the domestic federal statutory income tax rates to pretax income (loss) from continuing operations applicable to state and local income tax expense (benefit), net of federal tax expense (benefit). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Percentage of purchase concentration. No definition available.
|
| X | ||||||||||
|
- Definition
Purchase concentration, gross. No definition available.
|
| X | ||||||||||
|
- Definition
Purchase concentration net. No definition available.
|
| X | ||||||||||
|
- Details
|
|
Commitments and Contingencies - Additional Information (Detail) (USD $)
|
9 Months Ended |
|---|---|
|
Sep. 30, 2013
|
|
| Contingencies And Commitments [Line Items] | |
| Material reserves for litigation | $ 0 |
| Purchase price of receivable portfolios | 562,800,000 |
| Purchase price | 58,500,000 |
| Purchase commitments beyond December, 2014 | 0 |
|
Maximum [Member]
|
|
| Contingencies And Commitments [Line Items] | |
| Attorneys' fees and costs | $ 550,000 |
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Purchase Commitment, Face Amount No definition available.
|
| X | ||||||||||
|
- Definition
Aggregate carrying amount of the estimated litigation liability for known or estimated probable loss from litigation, which may include attorneys' fees and other litigation costs. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The minimum amount the entity agreed to spend under the long-term purchase commitment. No definition available.
|
| X | ||||||||||
|
- Definition
The value (monetary amount) of the award the plaintiff seeks in the legal matter. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Minimum amount to be expended to satisfy the terms of arrangements in which the entity has agreed to expend funds to procure goods or services, excluding long-term purchase commitments or unconditional purchase obligations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Segment Information - Additional Information (Detail) (USD $)
In Thousands, unless otherwise specified |
9 Months Ended | |||||
|---|---|---|---|---|---|---|
|
Sep. 30, 2013
Segment
|
Dec. 31, 2012
|
|||||
| Segment Reporting, Asset Reconciling Item [Line Items] | ||||||
| Number of reportable segments | 2 | |||||
| Assets | $ 2,591,003 | [1] | $ 1,171,340 | [1] | ||
|
Portfolio Purchasing and Recovery [Member]
|
||||||
| Segment Reporting, Asset Reconciling Item [Line Items] | ||||||
| Assets | 2,300,000 | |||||
|
Tax Lien Business [Member]
|
||||||
| Segment Reporting, Asset Reconciling Item [Line Items] | ||||||
| Assets | $ 237,300 | |||||
|
||||||
| X | ||||||||||
|
- Definition
Sum of the carrying amounts as of the balance sheet date of all assets that are recognized. Assets are probable future economic benefits obtained or controlled by an entity as a result of past transactions or events. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Number of segments reported by the entity. A reportable segment is a component of an entity for which there is an accounting requirement to report separate financial information on that component in the entity's financial statements. No definition available.
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| X | ||||||||||
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- Details
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Segment Information - Reconciliation of Revenue and Operating Income from Segments to Consolidated (Detail) (USD $)
In Thousands, unless otherwise specified |
3 Months Ended | 9 Months Ended | ||
|---|---|---|---|---|
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Sep. 30, 2013
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Sep. 30, 2012
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Sep. 30, 2013
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Sep. 30, 2012
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| Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items] | ||||
| Revenues | $ 235,558 | $ 145,218 | $ 536,265 | $ 412,874 |
| Depreciation and amortization | (4,523) | (1,533) | (8,527) | (4,193) |
| Stock-based compensation | (3,983) | (1,905) | (9,163) | (6,710) |
| Other expense | (29,485) | (6,402) | (47,784) | (18,253) |
| Income from continuing operations before income taxes | 31,644 | 35,195 | 81,942 | 96,797 |
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Operating Segments [Member]
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| Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items] | ||||
| Revenues | 235,558 | 145,218 | 536,265 | 412,874 |
| Operating income loss before depreciation and amortization | 69,635 | 45,035 | 147,416 | 125,953 |
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Operating Segments [Member] | Portfolio Purchasing and Recovery [Member]
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| Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items] | ||||
| Revenues | 230,885 | 140,682 | 523,659 | 405,818 |
| Operating income loss before depreciation and amortization | 67,803 | 42,980 | 143,961 | 123,079 |
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Operating Segments [Member] | Tax Lien Business [Member]
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| Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items] | ||||
| Revenues | 4,673 | 4,536 | 12,606 | 7,056 |
| Operating income loss before depreciation and amortization | $ 1,832 | $ 2,055 | $ 3,455 | $ 2,874 |
| X | ||||||||||
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- Definition
Operating Income (Loss) Before Depreciation and Amortization Stock Compensation and Other Expense No definition available.
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| X | ||||||||||
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- Definition
Represents the expense recognized during the period arising from equity-based compensation arrangements (for example, shares of stock, unit, stock options or other equity instruments) with employees, directors and certain consultants qualifying for treatment as employees. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The current period expense charged against earnings on long-lived, physical assets not used in production, and which are not intended for resale, to allocate or recognize the cost of such assets over their useful lives; or to record the reduction in book value of an intangible asset over the benefit period of such asset; or to reflect consumption during the period of an asset that is not used in production. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Sum of operating profit and nonoperating income or expense before Income or Loss from equity method investments, income taxes, extraordinary items, and noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The aggregate amount of income or expense from ancillary business-related activities (that is to say, excluding major activities considered part of the normal operations of the business). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Amount of revenue recognized from goods sold, services rendered, insurance premiums, or other activities that constitute an earning process. Includes, but is not limited to, investment and interest income before deduction of interest expense when recognized as a component of revenue, and sales and trading gain (loss). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Details
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Segment Information - Schedule of Geographical Areas of Which Company Operates (Detail) (USD $)
In Thousands, unless otherwise specified |
3 Months Ended | 9 Months Ended | ||
|---|---|---|---|---|
|
Sep. 30, 2013
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Sep. 30, 2012
|
Sep. 30, 2013
|
Sep. 30, 2012
|
|
| Segment Reporting Information [Line Items] | ||||
| Revenues | $ 235,558 | $ 145,218 | $ 536,265 | $ 412,874 |
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Reportable Geographical Components [Member] | United States [Member]
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| Segment Reporting Information [Line Items] | ||||
| Revenues | 189,086 | 145,218 | 489,793 | 412,874 |
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Reportable Geographical Components [Member] | United Kingdom [Member]
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| Segment Reporting Information [Line Items] | ||||
| Revenues | $ 46,472 | $ 46,472 | ||
| X | ||||||||||
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- Definition
Amount of revenue recognized from goods sold, services rendered, insurance premiums, or other activities that constitute an earning process. Includes, but is not limited to, investment and interest income before deduction of interest expense when recognized as a component of revenue, and sales and trading gain (loss). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Details
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Goodwill and Identifiable Intangible Assets - Additional Information (Detail)
|
9 Months Ended |
|---|---|
|
Sep. 30, 2013
Segment
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| Goodwill And Intangible Assets Disclosure [Abstract] | |
| Reporting units | 2 |
| X | ||||||||||
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- Details
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| X | ||||||||||
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- Definition
Number of segments reported by the entity. A reportable segment is a component of an entity for which there is an accounting requirement to report separate financial information on that component in the entity's financial statements. No definition available.
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| X | ||||||||||
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- Definition
Accumulated amount of amortization of assets, excluding financial assets and goodwill, lacking physical substance with a finite life. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Amount before amortization of assets, excluding financial assets and goodwill, lacking physical substance with a finite life. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Details
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| X | ||||||||||
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- Definition
Amount after accumulated impairment loss of an asset representing future economic benefits arising from other assets acquired in a business combination that are not individually identified and separately recognized. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Sum of the carrying amounts of all intangible assets, excluding goodwill, as of the balance sheet date, net of accumulated amortization and impairment charges. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Goodwill and Identifiable Intangible Assets - Schedule of Changes in Carrying Amount of Goodwill by Reporting Unit (Detail) (USD $)
In Thousands, unless otherwise specified |
9 Months Ended | |||
|---|---|---|---|---|
|
Sep. 30, 2013
|
Dec. 31, 2012
|
Sep. 30, 2013
Tax Lien Business [Member]
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Sep. 30, 2013
Portfolio Purchasing and Recovery [Member]
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| Goodwill [Line Items] | ||||
| Balance, December 31, 2012 | $ 489,520 | $ 55,446 | $ 49,399 | $ 6,047 |
| Goodwill acquired | 419,969 | |||
| Goodwill adjustment | (4,009) | (180) | ||
| Effect of foreign currency translation | 18,294 | |||
| Balance, September 30, 2013 | $ 489,520 | $ 55,446 | $ 45,390 | $ 444,130 |
| X | ||||||||||
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- Definition
Amount after accumulated impairment loss of an asset representing future economic benefits arising from other assets acquired in a business combination that are not individually identified and separately recognized. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Amount of increase in asset representing future economic benefits arising from other assets acquired in a business combination that are not individually identified and separately recognized resulting from a business combination. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Details
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| X | ||||||||||
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- Definition
Amount of increase (decrease) from adjustments after acquisition date under purchase accounting of an asset representing the future economic benefits arising from other assets acquired in a business combination that are not individually identified and separately recognized. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Amount of increase (decrease) from foreign currency translation adjustments of an asset representing future economic benefits arising from other assets acquired in a business combination that are not individually identified and separately recognized. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Goodwill and Identifiable Intangible Assets - Schedule of Changes in Carrying Amount of Goodwill by Reporting Unit (Parenthetical) (Detail) (USD $)
|
9 Months Ended |
|---|---|
|
Sep. 30, 2013
|
|
| Goodwill [Line Items] | |
| Adjustment to initial purchase price allocation | $ 4,000,000 |
|
Tax Lien Business [Member]
|
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| Goodwill [Line Items] | |
| Goodwill adjustment | $ (4,009,000) |
| X | ||||||||||
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- Definition
This element represents the amount of any measurement period adjustment (as defined) realized during the reporting period to financial assets acquired in connection with a business combination for which the initial accounting was incomplete. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Details
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| X | ||||||||||
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- Definition
Amount of increase (decrease) from adjustments after acquisition date under purchase accounting of an asset representing the future economic benefits arising from other assets acquired in a business combination that are not individually identified and separately recognized. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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