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Cover Page - USD ($) $ in Millions	12 Months Ended
Cover Page - USD ($) $ in Millions	Dec. 31, 2019	Feb. 19, 2020	Jun. 28, 2019
Cover page.
Amendment Flag	false
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	FY
Entity Central Index Key	0001084961
Current Fiscal Year End Date	--12-31
Document Type	10-K
Document Annual Report	true
Document Period End Date	Dec. 31, 2019
Document Transition Report	false
Entity File Number	000-26489
Entity Registrant Name	ENCORE CAPITAL GROUP, INC.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	48-1090909
Entity Address, Address Line One	350 Camino De La Reina
Entity Address, Address Line Two	Suite 100
Entity Address, City or Town	San Diego
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	92108
City Area Code	877
Local Phone Number	445-4581
Title of 12(b) Security	Common Stock, $0.01 Par Value Per Share
Trading Symbol	ECPG
Security Exchange Name	NASDAQ
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Public Float			$ 1,037.5
Entity Common Stock, Shares Outstanding		31,097,865
Documents Incorporated by Reference	Portions of the registrant’s definitive proxy statement in connection with its annual meeting of stockholders to be held in 2020 are incorporated by reference in Items 10, 11, 12, 13, and 14 of Part III of this Annual Report on Form 10-K for the fiscal year ended December 31, 2019, which proxy statement will be filed no later than 120 days after the close of the registrant’s fiscal year December 31, 2019.

Consolidated Statements of Financial Condition - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Assets
Cash and cash equivalents	$ 192,335	$ 157,418
Investment in receivable portfolios, net	3,283,984	3,137,893
Deferred court costs, net	100,172	95,918
Property and equipment, net	120,051
Property and equipment, net		115,518
Other assets	329,223	257,002
Goodwill	884,185	868,126
Total assets	4,909,950	4,631,875
Liabilities:
Accounts payable and accrued liabilities	223,911	287,945
Borrowings	3,513,197	3,490,633
Other liabilities	147,436	33,609
Total liabilities	3,884,544	3,812,187
Commitments and contingencies (Note 13)
Equity:
Convertible preferred stock, $0.01 par value, 5,000 shares authorized, no shares issued and outstanding	0	0
Common stock, $0.01 par value, 75,000 and 50,000 shares authorized, 31,097 shares and 30,884 shares issued and outstanding as of December 31, 2019 and December 31, 2018, respectively	311	309
Additional paid-in capital	222,590	208,498
Accumulated earnings	888,058	720,189
Accumulated other comprehensive loss	(88,766)	(110,987)
Total Encore Capital Group, Inc. stockholders’ equity	1,022,193	818,009
Noncontrolling interest	3,213	1,679
Total equity	1,025,406	819,688
Total liabilities and equity	4,909,950	4,631,875
VIEs
Assets
Cash and cash equivalents	34	448
Investment in receivable portfolios, net	539,596	501,489
Other assets	4,759	9,563
Liabilities:
Accounts payable and accrued liabilities	0	4,556
Borrowings	464,092	445,837
Other liabilities	$ 0	$ 46

Consolidated Statements of Operations - USD ($) shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Revenues
Revenue from receivable portfolios	$ 1,269,288	$ 1,167,132	$ 1,053,373
Servicing revenue	126,527	148,044	90,087
Other revenues	9,974	5,381	2,342
Total revenues	1,405,789	1,320,557	1,145,802
(Allowances) allowance reversals on receivable portfolios, net	(8,108)	41,473	41,236
Total revenues, adjusted by net allowances	1,397,681	1,362,030	1,187,038
Operating expenses
Salaries and employee benefits	376,365	369,064	315,742
Cost of legal collections	202,670	205,204	200,058
General and administrative expenses	148,256	158,352	158,080
Other operating expenses	108,433	134,934	104,938
Collection agency commissions	63,865	47,948	43,703
Depreciation and amortization	41,029	41,228	39,977
Goodwill impairment	10,718	0	0
Total operating expenses	951,336	956,730	862,498
Income from operations	446,345	405,300	324,540
Other (expense) income
Interest expense	(226,760)	(240,048)	(204,161)
Other (expense) income	(18,343)	(8,764)	10,847
Total other expense	(245,103)	(248,812)	(193,314)
Income from continuing operations before income taxes	201,242	156,488	131,226
Provision for income taxes	(32,333)	(46,752)	(52,049)
Income from continuing operations	168,909	109,736	79,177
Loss from discontinued operations, net of tax	0	0	(199)
Net income	168,909	109,736	78,978
Net (income) loss attributable to noncontrolling interest	(1,040)	6,150	4,250
Net income attributable to Encore Capital Group, Inc. stockholders	167,869	115,886	83,228
Amounts attributable to Encore Capital Group, Inc.:
Income from continuing operations	167,869	115,886	83,427
Loss from discontinued operations, net of tax	0	0	(199)
Net income attributable to Encore Capital Group, Inc. stockholders	$ 167,869	$ 115,886	$ 83,228
Basic earnings (loss) per share from:
Continuing operations (USD per share)	$ 5.38	$ 4.09	$ 3.21
Discontinued operations (USD per share)	0	0	(0.01)
Net basic earnings per share (USD per share)	5.38	4.09	3.20
Diluted earnings (loss) per share from:
Continuing operations (USD per share)	5.33	4.06	3.16
Discontinued operations (USD per share)	0	0	(0.01)
Net diluted earnings per share (USD per share)	$ 5.33	$ 4.06	$ 3.15
Weighted average shares outstanding:
Basic (shares)	31,210	28,313	25,972
Diluted (shares)	31,474	28,572	26,405

Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Statement of Comprehensive Income [Abstract]
Net income	$ 168,909	$ 109,736	$ 78,978
Change in unrealized gains/losses on derivative instruments:
Unrealized (loss) gain on derivative instruments	(5,029)
Income tax effect	761
Unrealized (loss) gain on derivative instruments, net of tax	(4,268)
Unrealized (loss) gain on derivative instruments		(7,658)	1,242
Income tax effect		1,743	(200)
Unrealized (loss) gain on derivative instruments, net of tax		(5,915)	1,042
Change in foreign currency translation:
Unrealized gain (loss) on foreign currency translation	23,169	(36,927)	28,362
Unrealized gain (loss) on foreign currency translation, net of divestiture	(3,814)	(3,663)	0
Unrealized gain (loss) on foreign currency translation, net of divestiture	26,983	(33,264)	28,362
Other comprehensive income (loss), net of tax	22,715	(39,179)	29,404
Comprehensive income	191,624	70,557	108,382
Comprehensive (income) loss attributable to noncontrolling interest:
Net (income) loss	(1,040)	6,150	4,250
Unrealized (income) loss on foreign currency translation	(494)	5,548	(1,849)
Comprehensive (income) loss attributable to noncontrolling interest	(1,534)	11,698	2,401
Comprehensive income attributable to Encore Capital Group, Inc. stockholders	$ 190,090	$ 82,255	$ 110,783

Consolidated Statements of Equity - USD ($) shares in Thousands, $ in Thousands	Total	Common Stock	Additional Paid-In Capital	Accumulated Earnings	Accumulated Other Comprehensive (Loss) Income	Noncontrolling Interest
Balance (in shares) at Dec. 31, 2016		25,593
Balance at Dec. 31, 2016	$ 551,765	$ 256	$ 103,392	$ 560,567	$ (104,911)	$ (7,539)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	83,883			83,228		655
Other comprehensive income (loss), net of tax	26,848				27,555	(707)
Change in fair value of redeemable noncontrolling interest	(108,296)		(81,074)	(27,222)
Purchase of noncontrolling interest	(1,532)		806			(2,338)
Exercise of stock options and issuance of share-based awards, net of shares withheld for employee taxes (in shares)		208
Exercise of stock options and issuance of share-based awards, net of shares withheld for employee taxes	(2,115)	$ 2	(2,117)
Stock-based compensation	10,399		10,399
Issuance of convertible senior notes/exchangeable notes	12,341		12,341
Settlement and repurchase of convertible senior notes (in shares)		622
Settlement and repurchase of convertible senior notes	(7,875)	$ 6	(7,881)
Reclassification of redeemable equity component of convertible senior notes	2,995		2,995
Reclassification of certain income tax effects of items within accumulated other comprehensive income to retained earnings	(259)			(259)
Convertible/Exchangeable notes hedge transactions (in shares)		(622)
Convertible/Exchangeable notes hedge transactions	3,519	$ (6)	3,525
Other	260		260
Balance (in shares) at Dec. 31, 2017		25,801
Balance at Dec. 31, 2017	571,933	$ 258	42,646	616,314	(77,356)	(9,929)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	114,527			115,886		(1,359)
Other comprehensive income (loss), net of tax	(36,374)				(37,294)	920
Change in fair value of redeemable noncontrolling interest	7,419		19,430	(12,011)
Purchase of noncontrolling interest	9,626					9,626
Exercise of stock options and issuance of share-based awards, net of shares withheld for employee taxes (in shares)		163
Exercise of stock options and issuance of share-based awards, net of shares withheld for employee taxes	(2,508)	$ 2	(2,510)
Stock-based compensation	12,980		12,980
Issuance of convertible senior notes/exchangeable notes	14,009		14,009
Convertible/Exchangeable notes hedge transactions	(17,785)		(17,785)
Net equity adjustment on Cabot Transaction	(43,097)		(43,097)
Other	7,771		1,687		3,663	2,421
Issuance of common stock (shares)		4,920
Issuance of common stock	181,187	$ 49	181,138
Balance (in shares) at Dec. 31, 2018		30,884
Balance at Dec. 31, 2018	819,688	$ 309	208,498	720,189	(110,987)	1,679
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	168,909			167,869		1,040
Other comprehensive income (loss), net of tax	18,901				18,407	494
Exercise of stock options and issuance of share-based awards, net of shares withheld for employee taxes (in shares)		213
Exercise of stock options and issuance of share-based awards, net of shares withheld for employee taxes	(4,872)	$ 2	(4,874)
Stock-based compensation	12,557		12,557
Issuance of convertible senior notes/exchangeable notes	4,733		4,733
Convertible/Exchangeable notes hedge transactions	1,792		1,792
Other	3,698		(116)		3,814	0
Balance (in shares) at Dec. 31, 2019		31,097
Balance at Dec. 31, 2019	$ 1,025,406	$ 311	$ 222,590	$ 888,058	$ (88,766)	$ 3,213

Consolidated Statements of Cash Flows $ in Thousands	12 Months Ended
Consolidated Statements of Cash Flows $ in Thousands	Dec. 31, 2019 USD ($)	Dec. 31, 2018 USD ($)	Dec. 31, 2017 USD ($)
Operating activities:
Net income	$ 168,909	$ 109,736	$ 78,978
Adjustments to reconcile net income to net cash provided by operating activities:
Loss from discontinued operations, net of income taxes	0	0	199
Interest expense related to financing	3,523	11,710	0
Depreciation and amortization	41,029	41,228	39,977
Goodwill impairment	10,718	0	0
Other non-cash interest expense, net	30,299	38,549	47,437
Stock-based compensation expense	12,557	12,980	10,399
Loss (gain) on derivative instruments, net	5,009	10,789	(3,915)
Deferred income taxes	22,339	16,814	28,970
Provision for (reversal of) allowances on receivable portfolios, net	8,108	(41,473)	(41,236)
Other, net	4,785	(17,805)	(7,846)
Changes in operating assets and liabilities
Deferred court costs and other assets	25,379	(35,626)	(4,101)
Prepaid income tax and income taxes payable	(25,678)	24,284	(26,699)
Accounts payable, accrued liabilities and other liabilities	(62,244)	15,605	1,655
Net cash provided by operating activities	244,733	186,791	123,818
Investing activities:
Cash paid for acquisitions, net of cash acquired	0	0	(96,390)
Purchases of receivable portfolios, net of put-backs	(1,035,130)	(1,131,095)	(1,045,829)
Collections applied to investment in receivable portfolios, net	757,640	809,688	709,420
Purchases of property and equipment	(39,602)	(67,475)	(28,126)
Proceeds from sale of portfolios	107,937	0	0
Other, net	6,822	(8,634)	8,794
Net cash used in investing activities	(202,333)	(397,516)	(452,131)
Financing activities:
Payment of loan and debt refinancing costs	(11,586)	(23,286)	(28,972)
Proceeds from credit facilities	603,634	942,186	1,434,480
Repayment of credit facilities	(586,429)	(571,144)	(1,168,069)
Proceeds from senior secured notes	454,573	0	325,000
Repayment of senior secured notes	(470,768)	(91,578)	(204,241)
Proceeds from issuance of convertible and exchangeable senior notes	100,000	172,500	150,000
Repayment of convertible senior notes	(84,600)	0	(125,407)
Proceeds from other debt	18,334	27,694	33,197
Repayment of other debt	(25,531)	(42,456)	(8,910)
Payment for the purchase of PECs and noncontrolling interest	0	(234,101)	(29,731)
Other, net	(17,397)	(13,438)	870
Net cash (used in) provided by financing activities	(19,770)	166,377	378,217
Net increase (decrease) in cash and cash equivalents	22,630	(44,348)	49,904
Effect of exchange rate changes on cash and cash equivalents	12,287	(10,373)	12,470
Cash and cash equivalents, beginning of period	157,418	212,139	149,765
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Including Disposal Group and Discontinued Operations, Ending Balance		157,418	212,139
Cash and cash equivalents of continuing operations, end of period	192,335	157,418	212,139
Supplemental disclosures of cash flow information:
Cash paid for interest	178,948	198,797	162,545
Cash paid for income taxes, net of refunds	43,973	5,734	42,378
Supplemental schedule of non-cash investing and financing activities:
Stock consideration for the Cabot Transaction	0	180,559	0
Conversion of convertible senior notes	0	0	28,277
Property and equipment acquired through finance leases	$ 5,299	$ 3,283	$ 3,577

Consolidated Statements of Financial Condition (Parenthetical) - $ / shares	Dec. 31, 2019	Dec. 31, 2018
Statement of Financial Position [Abstract]
Convertible preferred stock, par value (in dollars per share)	$ 0.01	$ 0.01
Convertible preferred stock, shares authorized	5,000,000	5,000,000
Convertible preferred stock, shares issued	0	0
Convertible preferred stock, shares outstanding	0	0
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized	75,000,000	50,000,000
Common stock, shares issued	31,097,000	30,884,000
Common stock, shares outstanding	31,097,000	30,884,000

Ownership, Description of Business, and Summary of Significant Accounting Policies

12 Months Ended

Dec. 31, 2019

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 with Encore, the “Company”), is an international specialty finance company providing debt recovery solutions and other related services for consumers 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 obligations to credit originators, including banks, credit unions, consumer finance companies and commercial retailers. Defaulted receivables may also include receivables subject to bankruptcy proceedings. The Company also provides debt servicing and other portfolio management services to credit originators for non-performing loans.

Through Midland Credit Management, Inc. and its domestic affiliates (collectively, “MCM”), the Company is a market leader in portfolio purchasing and recovery in the United States. Through Cabot Credit Management plc (“CCM”) and its subsidiaries and European affiliates (collectively, “Cabot”) the Company is one of the largest credit management services providers in Europe and a market leader in the United Kingdom and Ireland. These are the Company’s primary operations.

The Company also has investments and operations in Latin America and Asia-Pacific, which the Company refers to as “LAAP.” In August 2019, the Company completed the sale (the “Baycorp Transaction”) of its wholly-owned subsidiary Encore Australia Holdings I PTY LTD (together with its subsidiaries “Baycorp”), which represented the Company’s investments and operations in Australia and New Zealand and was a component of LAAP.

Basis of Consolidation

The consolidated financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America (“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 VIEs 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) either the obligation to absorb losses or the right to receive benefits. Refer to “Note 9: Variable Interest Entities” for further details. All intercompany transactions and balances have been eliminated in consolidation.

Translation of Foreign Currencies

The financial statements of certain of the Company’s foreign subsidiaries are measured using their local currency as the functional currency. Assets and liabilities of foreign operations are translated into U.S. dollars using period-end exchange rates, and revenues and expenses are translated into U.S. dollars using average exchange rates in effect during each period. The resulting translation adjustments are recorded as a component of other comprehensive income or loss. Equity accounts are translated at historical rates, except for the change in retained earnings during the year which is the result of the income statement translation process. Intercompany transaction gains or losses at each period end arising from subsequent measurement of balances for which settlement is not planned or anticipated in the foreseeable future are included as translation adjustments and recorded within other comprehensive income or loss. Translation gains or losses are the material components of accumulated other comprehensive income or loss and are reclassified to earnings upon the substantial sale or liquidation of investments in foreign operations.

Reclassifications

Certain immaterial reclassifications have been made to the prior years’ consolidated financial statements to conform to current year presentation.

Change in Accounting Principle

As discussed in “Note 12: Leases” to the consolidated financial statements, effective January 1, 2019, the Company adopted Accounting Standard Codification 842 - Leases (“Topic 842”) using the modified retrospective method.

The Company adopted ASU 2017-04, Intangibles - Goodwill and Other (Topic 350) in 2019. The amendments in this update simplify the test for goodwill impairment by eliminating Step 2 from the impairment test, which required the entity to perform procedures to determine the fair value at the impairment testing date of its assets and liabilities following the procedure that would be required in determining the fair value of assets acquired and liabilities assumed in a business combination.

Recent Accounting Pronouncements

Other than the adoption of the standards discussed in the “Change in Accounting Principle” section above, there have been no new accounting pronouncements made effective during the year ended December 31, 2019 that have significance, or potential significance, to the Company’s consolidated financial statements.

Recent Accounting Pronouncements Not Yet Effective

In June 2016, the Financial Accounting Standards Board (“FASB”) issued ASU No. 2016-13, Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments (“ASU 2016-13” or “CECL”). ASU 2016-13 introduces a new impairment approach for credit loss recognition based on current expected lifetime losses rather than incurred losses. ASU 2016-13 applies to all financial assets carried at amortized costs, including the Company’s investment in receivable portfolios, which are defined as purchased credit deteriorated (“PCD”) financial assets under CECL. For PCD financial assets, the unit of account is at individual loan level. Since each loan is deeply delinquent and deemed uncollectible at the individual loan level, the Company will apply its charge-off policy and fully write-off the amortized costs (i.e., face value net of noncredit discount) of the individual receivables immediately after purchasing the portfolio. The Company will then record a negative allowance that represents the present value of expected all future recoveries on the aggregated portfolio level using a discounted approach. Revenue will be recognized over the life of the portfolio at an effective interest rate established at the time of purchase. Subsequent over and under-performance and changes in expected cash flows are recognized in the statements of operations as adjustments to the provision for credit losses. ASU 2016-13, including the effect of ongoing developments and amendments to the guidance, represents a significant change from existing U.S. GAAP and will result in changes to the Company’s accounting for its investment in receivable portfolios. ASU 2016-13 is effective for reporting periods beginning after December 15, 2019. The Company will adopt ASU 2016-13 as of January 1, 2020 using a modified-retrospective approach, by recording a cumulative-effect adjustment to opening retained earnings. Implementation efforts have been substantially completed.

As part of the adoption of CECL, the Company will change its current method of accounting for its court costs spent in its legal collection channel effective January 1, 2020. As of December 31, 2019, the Company capitalizes its upfront court costs spent in its consolidated financial statements (“Deferred Court Costs”) and provides a reserve for those costs that it believes will ultimately be uncollectible. For financial statements for reporting periods subsequent to January 1, 2020, the Company will expense all of its court costs as incurred and will include expected recoveries on these upfront court costs in the measurement of the investment in receivable portfolios at a discounted value. Upon transition, an adjustment will be made to retained earnings to reflect the net change from an undiscounted to discounted value prior to writing-off uncollectible receivables and establishing a balance for discounted value of future recoveries of amounts expected to be collected. The adoption of this new accounting policy will result in the write-off of existing Deferred Court Costs, an increase to investment in receivable portfolios, and a decrease to opening retained earnings estimated to be between $40 and $50 million. The Company expects that, subsequent to the adoption of CECL, revenue from receivable portfolios will be favorably impacted by including expected court costs recoveries in its estimated remaining collections, while expensing all court costs as incurred will result in higher operating expenses in 2020 as compared to prior years.

In April 2019, the FASB issued ASU No. 2019-04, Codification Improvements to Topic 326, Financial Instruments-Credit Losses, Topic 815, Derivatives and Hedging, and Topic 825, Financial Instruments (“ASU 2019-04”). The amendments in ASU 2019-04 clarify certain aspects of accounting for credit losses, hedging activities, and financial instruments. For clarifications around credit losses, the effective date will be the same as the effective date of ASU 2016-13. For entities that have adopted ASU No. 2017-12, Derivatives and Hedging (Topic 815): Targeted Improvements to Accounting for Hedging Activities, ASU 2019-04 is effective the first annual reporting period beginning after the date of issuance of ASU 2019-04 and may be early adopted. The amendments in ASU 2019-04 that are related to financial instruments are effective for fiscal years beginning after December 15, 2019, and interim periods within those years, with early adoption permitted. The Company's adoption of ASU 2019-04 is not expected to have a material impact on its consolidated financial statements.

With the exception of the updated standards discussed above, there have been no new accounting pronouncements not yet effective as of December 31, 2019 that have significance, or potential significance, to the Company’s consolidated financial statements.

Use of Estimates

The preparation of financial statements, in conformity with GAAP, requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could materially differ from those estimates.

Cash and Cash Equivalents

Cash and cash equivalents consist of highly liquid investments with maturities of three months or less at the date of purchase. The Company maintains its cash and cash equivalents in multiple financial institutions and certain account balances exceed federally insurable limits. To date, the Company has experienced no loss or lack of access to cash in its bank accounts. The Company believes any risks are mitigated by maintaining cash with highly rated financial institutions. The carrying amounts reported in the consolidated statements of financial condition for cash and cash equivalents approximate their fair value.

Included in cash and cash equivalents is cash collected on behalf of and due to third-party clients. A corresponding balance is included in accounts payable and accrued liabilities. The balance of cash held for clients was $25.0 million and $21.8 million at December 31, 2019 and 2018, respectively.

Investment in Receivable Portfolios

Discrete receivable portfolio purchases during the same fiscal quarter are aggregated into pools based on common risk characteristics. Common risk characteristics include risk ratings (e.g., FICO or similar scores), financial asset type, collateral type, size, interest rate, date of origination, term, and geographic location. The Company’s static pools are typically grouped into credit card, purchased consumer bankruptcy, and mortgage portfolios. The Company further groups these static pools by geographic region or location. Portfolios acquired in business combinations are also grouped into these pools. During any fiscal quarter in which the Company has an acquisition of an entity that has portfolio, the entire historical portfolio of the acquired company is aggregated into the pool groups for that quarter, based on common characteristics, resulting in pools for that quarter that may consist of several different vintages of portfolio. 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.

The Company accounts for its investment 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 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 operations as an adjustment to revenue, with a corresponding valuation allowance, offsetting the investment in receivable portfolios in the consolidated statements of financial condition. With gross collections being discounted at monthly IRRs, when collections are lower in the near term, even if substantially higher collections are expected later in the collection curve, an allowance charge could result.

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 portfolio allowance reversals and decreased by gross collections and portfolio allowances. Once the net book value of a static pool has been fully recovered, it becomes zero basis portfolio (“ZBA”) and all subsequent collections are recognized as ZBA revenue.

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 revenue is recognized until the carrying value of a Cost Recovery Portfolio has been fully recovered. See “Note 4: Investment in Receivable Portfolios, Net” for further discussion of investment in receivable portfolios.

Effective January 1, 2020, the Company’s investment in receivable portfolios is accounted for under CECL.

Transfers of Financial Assets

The Company accounts for transfers of financial assets as sales when it has surrendered control over the related assets. Whether control has been relinquished requires, among other things, an evaluation of relevant legal considerations and an assessment of the nature and extent of the Company’s ongoing involvement with the assets transferred. Gains and losses stemming from transfers reported as sales are included in “Other revenues” in the Company’s consolidated statements of operations. Assets obtained and liabilities incurred in connection with transfers reported as sales are initially recognized in the statements of financial condition at fair value.

Transfers of financial assets that do not qualify for sale accounting are reported as collateralized borrowings. Accordingly, the related assets remain on the Company’s statements of financial condition and continue to be reported and accounted for as if the transfer had not occurred. Cash proceeds from these transfers are reported as liabilities, with attributable interest expense recognized over the life of the related transactions. To date, the Company has not had any transfers of financial assets that did not qualify for sale accounting.

Servicing Revenue

Certain of the Company’s subsidiaries earn servicing revenue by providing portfolio management services to credit originators for non-performing loans. The Company recognizes servicing revenue when it satisfies the performance obligation over time by providing debt solution and credit management services.

Goodwill and Other Intangible Assets

Goodwill represents the excess of purchase price over the value assigned to the tangible and identifiable intangible assets, liabilities assumed, and noncontrolling interest of businesses acquired. Acquired intangible assets other than goodwill are amortized over their useful lives unless the lives are determined to be indefinite. Goodwill and other indefinite-lived intangible assets are tested at the reporting unit level annually for impairment and in interim periods if certain events occur indicating the fair value of a reporting unit may be below its carrying value. See “Note 15: Goodwill and Identifiable Intangible Assets” for further discussion of the Company’s goodwill and other intangible assets.

Property and Equipment

Property and equipment are recorded at cost, less accumulated depreciation and amortization. The provision for depreciation and amortization is computed using the straight-line method over the estimated useful lives of the assets as follows:


Fixed Asset Category						Estimated Useful Life
Leasehold improvements						Lesser of lease term, including periods covered by renewal options, or useful life
Furniture, fixtures and equipment						5 to 10 years
Computer hardware and software						3 to 5 years

Maintenance and repairs are charged to expense in the year incurred. Expenditures for major renewals that extend the useful lives of fixed assets are capitalized and depreciated over the useful lives of such assets.

Deferred Court Costs

The Company pursues legal collections using a network of attorneys that specialize in collection matters and through its internal legal channel. The Company generally pursues collections through legal means only when it believes a consumer has sufficient assets to repay their indebtedness but has, to date, been unwilling to pay. In order to pursue legal collections the Company is required to pay certain upfront costs to the applicable courts that are recoverable from the consumer. 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 an estimated court cost recovery rate established based on its analysis of historical court costs recovery data. The Company estimates deferral periods for Deferred Court Costs based on jurisdiction and nature of litigation and writes off any Deferred Court Costs not recovered within the respective deferral period. Collections received from debtors are first applied against related court costs with the balance applied to the debtors’ account balance. See “Note 5: Deferred Court Costs, Net” for further details.

Effective January 1, 2020, in connection with the adoption of CECL, the Company expenses all upfront court costs in its statements of operations and includes all future projected recoveries of these upfront court costs in the measurement of the investment in receivable portfolios, at a discounted value.

Income Taxes

The Company uses the liability method of accounting for income taxes in accordance with the authoritative guidance for Income Taxes. When the Company prepares its consolidated financial statements, it estimates income taxes based on the various jurisdictions and countries where it conducts business. This requires the Company to estimate current tax exposure and to assess temporary differences that result from differing treatments of certain items for tax and accounting purposes. Deferred income taxes are recognized based on the differences between the financial statement and income tax bases of assets and liabilities using enacted tax rates in effect for the year in which the differences are expected to reverse. The Company then assesses the likelihood that deferred tax assets will be realized. Valuation allowances are established, when it is more likely than

not the deferred tax assets will not be realized. When the Company establishes a valuation allowance or increases this allowance in an accounting period, it records a corresponding tax expense in the consolidated statements of operations. The Company includes interest and penalties related to income taxes within its provision for income taxes. See “Note 11: Income Taxes” for further discussion.

Management must make significant judgments to determine the provision for income taxes, deferred tax assets and liabilities, and any valuation allowance to be recorded against deferred tax assets.

Stock-Based Compensation

The Company determines stock-based compensation expense for all share-based payment awards based on the measurement date fair value. The Company has certain share awards that include market conditions that affect vesting, the fair value of these shares is estimated using a lattice model. Compensation cost is not adjusted if the market condition is not met, as long as the requisite service is provided. For share awards that require service and performance conditions, the Company recognizes compensation cost only for those awards expected to meet the service and performance vesting conditions over the requisite service period of the award. Forfeiture rates are estimated based on the Company’s historical experience. Stock-based compensation expenses are included in “Salaries and Employee Benefits” in the Company’s consolidated statements of operations. See “Note 10: Stock-Based Compensation” for further discussion.

Derivative Instruments and Hedging Activities

The Company recognizes all derivative financial instruments in its consolidated financial statements at fair value. Changes in the fair value of derivative instruments are recorded in earnings unless hedge accounting criteria are met. The Company designates certain derivative instruments as cash flow hedges. The changes in fair value of derivatives designated as cash flow hedges is recorded each period, net of tax, in accumulated other comprehensive income or loss until the related hedged transaction occurs. If in the event the hedged cash flow does not occur, or it becomes probable that it will not occur, the Company would reclassify the amount of any gain or loss on the related cash flow hedge to income or expense at that time. If the hedged cash flows are still reasonably possible to occur, the hedged cash flows will continue to be recorded in accumulated other comprehensive income or loss until the hedged cash flows are no longer probable of occurring. See “Note 3: Derivatives and Hedging Instruments” for further discussion.

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 and exchangeable senior notes, if applicable.

A reconciliation of shares used in calculating earnings per basic and diluted shares follows (in thousands, except per share amounts):


	Year Ended December 31,
	2019		2018		2017
Amounts attributable to Encore Capital Group, Inc.:
Income from continuing operations	$	167,869	$	115,886	$	83,427
Loss from discontinued operations, net of tax	—		—		(199)
Net income	$	167,869	$	115,886	$	83,228

Total weighted-average basic shares outstanding	31,210		28,313		25,972
Dilutive effect of stock-based awards	264		259		255
Dilutive effect of convertible and exchangeable senior notes	—		—		178
Total weighted-average dilutive shares outstanding	31,474		28,572		26,405

Basic earnings (loss) per share from:
Continuing operations	$	5.38	$	4.09	$	3.21
Discontinued operations	—		—		(0.01)
Net basic earnings per share	$	5.38	$	4.09	$	3.20
Diluted earnings (loss) per share from:
Continuing operations	$	5.33	$	4.06	$	3.16
Discontinued operations	—		—		(0.01)
Net diluted earnings per share	$	5.33	$	4.06	$	3.15

Anti-dilutive employee stock options outstanding were approximately 64,000, 66,000 and 107,000 for the years ended December 31, 2019, 2018, and 2017, respectively.

The Company has the following convertible and exchangeable senior notes outstanding: $89.4 million convertible senior notes due 2020 at a conversion price equivalent to approximately $45.72 per share of the Company’s common stock (the “2020 Convertible Notes”), $161.0 million convertible senior notes due 2021 at a conversion price equivalent to approximately $59.39 per share of the Company’s common stock (the “2021 Convertible Notes”), $150.0 million convertible senior notes due 2022 at a conversion price equivalent to approximately $45.57 per share of the Company’s common stock (the “2022 Convertible Notes”), $172.5 million exchangeable senior notes due 2023 at a conversion price equivalent to approximately $44.62 per share of the Company’s common stock (the “Exchangeable Notes”), and $100.0 million convertible senior notes due 2025 at a conversion price equivalent to approximately $40.00 per share of the Company's common stock (the “2025 Convertible Notes”).

In the event of conversion for the 2021 Convertible Notes, 2022 Convertible Notes, Exchangeable Notes and 2025 Convertible Notes, the Company has the option to pay cash, issue shares of common stock or any combination thereof for the aggregate amount due upon conversion. The Company will settle the principal amount of the 2020 Convertible Notes in cash upon conversion. The Company’s intent is to settle the principal amount of the 2021, 2022, 2025 Convertible Notes and Exchangeable Notes in cash upon conversion. As a result, upon conversion of all the convertible and exchangeable senior notes, only the amounts payable in excess of the principal amounts are considered in diluted earnings per share under the treasury stock method. Diluted earnings per share during the year ended December 31, 2017 included the effect of the common shares issuable upon conversion of certain of the convertible senior notes because the average stock price exceeded the conversion price of these notes. However, as described in the “Encore Convertible Notes and Exchangeable Notes” section of “Note 8: Borrowings” the Company entered into certain hedge transactions that have the effect of increasing the effective conversion price of the 2020 Convertible Notes to $61.55, the 2021 Convertible Notes to $83.14 and the Exchangeable Notes to $62.48.

Fair Value Measurements

12 Months Ended

Dec. 31, 2019

Fair Value Disclosures [Abstract]

Fair Value Measurements

Note 2: Fair Value Measurements

Fair value is defined 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 Company uses 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:

•Level 1: Observable inputs such as quoted prices (unadjusted) in active markets for identical assets or liabilities.

•Level 2: Inputs other than quoted prices that are observable for the asset or liability, either directly or indirectly. These include quoted prices for similar assets or liabilities in active markets and quoted prices for identical or similar assets or liabilities in markets that are not active.

•Level 3: Unobservable inputs, including inputs that reflect the reporting entity’s own assumptions.

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):


	Fair Value Measurements as of December 31, 2019
	Level 1		Level 2		Level 3		Total
Assets
Foreign currency exchange contracts	$	—	$	1,473	$	—	$	1,473
Interest rate cap contracts	—		2,460		—		2,460
Liabilities

Interest rate swap agreements	—		(9,116)		—		(9,116)
Contingent consideration	—		—		(66)		(66)


	Fair Value Measurements as of December 31, 2018
	Level 1		Level 2		Level 3		Total
Assets

Interest rate cap contracts	$	—	$	2,023	$	—	$	2,023
Liabilities
Foreign currency exchange contracts	—		(237)		—		(237)
Interest rate swap agreements	—		(4,881)		—		(4,881)
Contingent consideration	—		—		(6,198)		(6,198)

Derivative Contracts:

The Company uses derivative instruments to manage its exposure to fluctuations in interest rates and foreign currency exchange rates. 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.

Contingent Consideration:

The Company carries certain contingent liabilities resulting from its mergers and acquisition activities. Certain sellers of the Company’s acquired entities could earn additional earn-out payments in cash based on the entities’ subsequent operating performance. The Company recorded the acquisition date fair values of these contingent liabilities, based on the likelihood of contingent earn-out payments, as part of the consideration transferred. The earn-out payments are subsequently remeasured to fair value at each reporting date, based on actual and forecasted operating performance.

The following table provides a roll-forward of the fair value of contingent consideration for the years ended December 31, 2019, 2018 and 2017 (in thousands):


	Amount





Balance at December 31, 2016	$	2,531
Issuance of contingent consideration in connection with acquisition	10,808
Change in fair value of contingent consideration	(2,822)
Time value amortization	381
Payment of contingent consideration	(781)
Effect of foreign currency translation	495
Balance at December 31, 2017	10,612
Issuance of contingent consideration in connection with acquisition	1,728
Change in fair value of contingent consideration	(5,664)
Payment of contingent consideration	(271)
Effect of foreign currency translation	(207)
Balance at December 31, 2018	6,198

Change in fair value of contingent consideration	(2,300)
Payment of contingent consideration	(3,686)
Effect of foreign currency translation	(146)
Balance at December 31, 2019	$	66

Redeemable Noncontrolling Interest:

Some minority shareholders in certain subsidiaries of the Company had the right, at certain times, to require the Company to acquire their ownership interest in those entities at fair value and, in some cases, to force a sale of the subsidiary if the Company chose not to purchase their interests at fair value. In connection with various business transactions, the Company redeemed or deconsolidated all of its redeemable noncontrolling interest during the year ended December 31, 2018 and no longer carried any redeemable noncontrolling interest as of December 31, 2018.

The components of the change in the redeemable noncontrolling interest for the years ended December 31, 2019, 2018 and 2017 are presented in the following table (in thousands):


	Amount






Balance at December 31, 2016	$	45,755
Addition to redeemable noncontrolling interest	277
Net loss attributable to redeemable noncontrolling interest	(4,905)
Adjustment of the redeemable noncontrolling interest to fair value	108,296
Effect of foreign currency translation attributable to redeemable noncontrolling interest	2,555
Balance at December 31, 2017	151,978

Redemption of redeemable noncontrolling interest	(138,835)
Deconsolidation upon sale of redeemable noncontrolling interest	5,535
Net loss attributable to redeemable noncontrolling interest	(4,791)
Adjustment of the redeemable noncontrolling interest to fair value	(7,419)
Effect of foreign currency translation attributable to redeemable noncontrolling interest	(6,468)
Balance at December 31, 2018	—
Balance at December 31, 2019	$	—

Non-Recurring Fair Value Measurement:

Certain assets are measured at fair value on a nonrecurring basis. These assets include real estate-owned assets classified as held for sale at the lower of their carrying value or fair value less cost to sell. The fair value of the assets held for sale and estimated selling expenses were determined at the time of initial recognition and in each reporting period using Level 3

measurements. The fair value estimate of the assets held for sale was approximately $46.7 million and $26.7 million as of December 31, 2019 and December 31, 2018, respectively.

Financial Instruments Not Required To Be Carried At Fair Value

The table below summarizes fair value estimates for the Company’s financial instruments that are not required to be carried at fair value. The total of the fair value calculations presented does not represent, and should not be construed to represent, the underlying value of the Company. The carrying amounts in the following table are recorded in the consolidated statements of financial condition at December 31, 2019 and December 31, 2018 (in thousands):


	December 31, 2019						December 31, 2018
	Carrying Amount		Estimated Fair Value		Carrying Amount		Estimated Fair Value
Financial Assets
Investment in receivable portfolios	$	3,283,984	$	3,464,050	$	3,137,893	$	3,525,861
Deferred court costs	100,172		100,172		95,918		95,918
Financial Liabilities
Encore convertible notes and exchangeable notes⁽¹⁾	642,547		693,708		619,639		553,744
Cabot senior secured notes⁽²⁾	1,127,435		1,170,945		1,109,922		1,036,905

________________________

(1)Carrying amount represents the portion of the convertible and exchangeable notes classified as debt, while estimated fair value pertains to the face amount of the notes.

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

Investment in Receivable Portfolios:

The fair value of investment in receivable portfolios is measured using Level 3 inputs by discounting the estimated future cash flows generated by its proprietary forecasting models. The key inputs include the estimated future gross cash flow, average cost to collect, and discount rate. The Company estimates the average cost to collect and discount rates based on its estimate of what a market participant might use in valuing these portfolios. The determination of such inputs requires significant judgment, including assessing the assumed market participant’s cost structure, its determination of whether to include fixed costs in its valuation, its collection strategies, and determining the appropriate weighted average cost of capital. The Company evaluates the use of these key inputs on an ongoing basis and refines the data as it continues to obtain better information from market participants in the debt recovery and purchasing business.

A 100 basis point increase in the cost to collect and discount rate used would result in a decrease in the fair value of U.S. and European portfolios by approximately $65.6 million and $77.3 million, respectively, as of December 31, 2019. 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.

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 was $100.2 million and $95.9 million as of December 31, 2019 and 2018, respectively, and approximated fair value.

Borrowings:

The majority of the Company’s borrowings are carried at historical amounts, adjusted for additional borrowings less principal repayments, which approximate fair value. These borrowings include Encore’s senior secured notes and borrowings under its revolving credit and term loan facilities and Cabot’s borrowings under its revolving credit facility. The carrying value of the Company’s revolving credit and term loan facilities approximates fair value due to the short-term nature of the interest rate periods. The fair value of the Company’s senior secured notes was estimated using widely accepted valuation techniques, including discounted cash flow analyses using available market information on discount and borrowing rates with similar terms, maturities, and credit ratings. Accordingly, the Company used Level 2 inputs for these debt instrument fair value estimates. The Company’s borrowings also include finance lease liabilities for which the carrying value approximates fair value.

Encore’s convertible notes and exchangeable notes and Cabot’s senior secured notes are carried at historical cost, adjusted for the debt discount. The fair value estimate for these convertible and exchangeable notes incorporates quoted market prices using Level 2 inputs.

- Definition

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.

+ References + Details

Derivatives and Hedging Instruments

12 Months Ended

Dec. 31, 2019

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Derivatives and Hedging Instruments

Note 3: Derivatives and Hedging Instruments

The Company may periodically enter into derivative financial instruments to manage risks related to interest rates and foreign currency. Certain of the Company’s derivative financial instruments qualify for hedge accounting treatment.

The following table summarizes the fair value of derivative instruments as recorded in the Company’s consolidated statements of financial condition (in thousands):

December 31, 2019

December 31, 2018

Balance Sheet
Location

Fair Value

Balance Sheet
Location

Fair Value

Derivatives designated as hedging instruments:

Interest rate cap contracts

Other assets

2,460

Other assets

2,023

Foreign currency exchange contracts

Other assets

443

Other liabilities

(237)

Interest rate swap agreements

Other liabilities

(9,116)

Other liabilities

(4,881)

Derivatives not designated as hedging instruments:

Foreign currency exchange contracts

Other assets

1,030

Other assets

—

Derivatives Designated as Hedging Instruments

The Company has operations in foreign countries, which expose the Company to foreign currency exchange rate fluctuations due to transactions denominated in foreign currencies. To mitigate a portion of this risk, the Company enters into derivative financial instruments, principally foreign currency forward contracts with financial counterparties. 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.

Certain of the foreign currency forward contracts are designated as cash flow hedging instruments and qualify for hedge accounting treatment. Gains and losses arising from such contracts are recorded as a component of accumulated other comprehensive income (“OCI”) as gains and losses on derivative instruments, net of income taxes. The hedging gains and losses in OCI are subsequently reclassified into earnings in the same period in which the underlying transactions affect the Company’s earnings. If all or a portion of the forecasted transaction is cancelled, the accumulated gains or losses in OCI would be reclassified into earnings.

As of December 31, 2019, the total notional amount of the foreign currency forward contracts that are designated as cash flow hedging instruments was $13.8 million. All of these outstanding contracts qualified for hedge accounting treatment. The Company estimates that approximately $0.4 million of net derivative gain included in OCI will be reclassified into earnings within the next 12 months. No gain or loss was reclassified from OCI into earnings as a result of forecasted transactions that failed to occur during the years ended December 31, 2019, 2018, or 2017.

The Company may periodically enter into 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. Under the swap agreements, the Company receives floating interest rate payments and makes interest payments based on fixed interest rates. The Company designates its interest rate swap instruments as cash flow hedges. As of December 31, 2019, there were four interest rate swap agreements outstanding with a total notional amount of $331.7 million.

As of December 31, 2019, the Company also held three interest rate cap contracts with a notional amount of approximately $913.0 million that are used to manage its risk related to interest rate fluctuations on the Company’s variable interest rate bearing debt. Two of the interest rate cap contracts mature in 2021 (the “2018 Caps”) and one matures in 2024 (the “2019 Cap”). The 2018 Caps have a notional amount of £350.0 million (approximately $464.1 million) and the 2019 Cap has a notional amount of €400.0 million (approximately $448.9 million). The 2018 Caps are structured as a series of European call options (“Caplets”) such that if exercised, the Company will receive a payment equal to 3-months GBP-LIBOR on a notional amount equal to the hedged notional amount net of a fixed strike price. The 2019 Cap is also structured as a series of Caplets such that if exercised, the Company will receive a payment equal to 3-months EURIBOR on a notional amount equal to the hedged notional amount net of a fixed strike price. Each interest rate reset date, the Company will elect to exercise the Caplet or let it expire. The potential cash flows from each Caplet are expected to offset any variability in the cash flows of the interest payments to the extent GBP-LIBOR or EURIBOR exceeds the strike price of the Caplets. The Company expects the hedge relationship to be highly effective and designates the 2018 Caps and 2019 Cap as cash flow hedge instruments.

The following table summarizes the effects of derivatives in cash flow hedging relationships designated as hedging instruments in the Company’s consolidated financial statements for the years ended December 31, 2019 and 2018 (in thousands):


	Gain (Loss) Recognized in OCI					Location of Gain (Loss) Reclassified from OCI into Income			Gain (Loss) Reclassified from OCI into Income
	2019		2018					2019			2018
Foreign currency exchange contracts	$	1,100	$	(1,253)	Salaries and employee benefits	$	383		$	794
Foreign currency exchange contracts	(56)		(100)		General and administrative expenses	(19)			2
Interest rate swap agreements	(6,347)		(5,228)		Interest expense	(2,560)			(384)
Interest rate cap contracts	(1,752)		(643)		Interest expense	146			—

Derivatives Not Designated as Hedging Instruments

The Company enters into currency exchange forward contracts to reduce the effects of currency exchange rate fluctuations between the British Pound and Euro. These derivative contracts generally mature within one to three months and are not designated as hedge instruments for accounting purposes. The Company continues to monitor the level of exposure of the foreign currency exchange risk and may enter into additional short-term forward contracts on an ongoing basis. The gains or losses on these derivative contracts are recognized in other income or expense based on the changes in fair value.

In May 2018, in anticipation of the completion of the Cabot Transaction, Encore entered into a foreign exchange forward contract with a notional amount of £176.0 million, which was approximately the amount of cash consideration for the Cabot Transaction. The forward contract settled in August 2018 at a total loss of $9.3 million. This loss was substantially offset by a decrease in the final purchase price in U.S. dollars for the Cabot Transaction.

The following table summarizes the effects of derivatives not designated as hedging instruments on the Company’s consolidated statements of operations for the years ended December 31, 2019, 2018 and 2017 (in thousands):


Derivatives Not Designated as Hedging Instruments	Location of Derivative Gain (Loss) Recognized in Income	Amount of Derivative Gain (Loss) Recognized in Income
				2019		2018		2017
Foreign currency exchange contracts	Other (expense) income	$	(2,959)	$	(9,221)	$	1,755
Interest rate cap contracts	Interest expense	—		(1,568)		2,026
Interest rate swap agreements	Interest expense	—		—		110

Investment in Receivable Portfolios, Net

12 Months Ended

Dec. 31, 2019

Receivables [Abstract]

Investment in Receivable Portfolios, Net

Note 4: Investment in Receivable Portfolios, Net

The following tables summarize the changes in the balance of the investment in receivable portfolios during the following periods (in thousands, except percentages):


	Year Ended December 31, 2019
	Accrual Basis Portfolios			Cost Recovery Portfolios		Zero Basis Portfolios			Total
Balance, beginning of period	$	3,129,502		$	8,391	$	—		$	3,137,893
Purchases of receivable portfolios	1,046,696			—		—			1,046,696
Transfer of portfolios⁽¹⁾	(78,980)			78,980		—			—
Deconsolidation of receivable portfolios⁽²⁾	(51,935)			—		—			(51,935)
Disposals or transfers to held for sale	(6,178)			(5,317)		—			(11,495)
Sale of receivable portfolios⁽³⁾	(98,636)			—		—			(98,636)
Collections on receivable portfolios⁽⁴⁾	(1,930,539)			(4,201)		(92,188)			(2,026,928)
Put-backs and Recalls⁽⁵⁾	(11,566)			—		(25)			(11,591)
Foreign currency adjustments	37,224			1,596		(20)			38,800
Revenue recognized	1,185,681			—		83,607			1,269,288
Portfolio (allowance) reversals, net	(16,734)			—		8,626			(8,108)
Balance, end of period	$	3,204,535		$	79,449	$	—		$	3,283,984
Revenue as a percentage of collections⁽⁶⁾	61.4		%	—		90.7		%	62.6		%


	Year Ended December 31, 2018
	Accrual Basis Portfolios			Cost Recovery Portfolios		Zero Basis Portfolios			Total
Balance, beginning of period	$	2,879,170		$	11,443	$	—		$	2,890,613
Purchases of receivable portfolios	1,131,898			—		—			1,131,898
Disposals or transfers to held for sale	(10,852)			(1,604)		—			(12,456)
Collections on receivable portfolios⁽⁴⁾	(1,832,539)			(1,826)		(133,255)			(1,967,620)
Put-backs and Recalls⁽⁵⁾	(14,253)			—		(176)			(14,429)
Foreign currency adjustments	(98,298)			(420)		—			(98,718)
Revenue recognized	1,041,947			—		125,185			1,167,132
Portfolio allowance reversals, net	32,429			—		9,044			41,473
Reclassification from prior period	—			798		(798)			—
Balance, end of period	$	3,129,502		$	8,391	$	—		$	3,137,893
Revenue as a percentage of collections⁽⁶⁾	56.9		%	—		93.9		%	59.3		%


	Year Ended December 31, 2017
	Accrual Basis Portfolios			Cost Recovery Portfolios		Zero Basis Portfolios			Total
Balance, beginning of period	$	2,368,366		$	14,443	$	—		$	2,382,809
Purchases of receivable portfolios	1,057,066			1,169		—			1,058,235
Disposals or transfers to held for sale	(12,695)			(493)		—			(13,188)
Collections on receivable portfolios⁽⁴⁾	(1,613,351)			(3,511)		(150,782)			(1,767,644)
Put-backs and Recalls⁽⁵⁾	(2,577)			—		(294)			(2,871)
Foreign currency adjustments	138,828			(165)		—			138,663
Revenue recognized	909,239			—		144,134			1,053,373
Portfolio allowance reversals, net	34,294			—		6,942			41,236
Balance, end of period	$	2,879,170		$	11,443	$	—		$	2,890,613
Revenue as a percentage of collections⁽⁶⁾	56.4		%	—		95.6		%	59.6		%

________________________

(1)Represents all portfolios in Mexico, which were transferred from accrual basis portfolios to cost recovery portfolios as the timing of future collections were determined to not be currently reasonably estimable, due to the changing political and economic conditions in Mexico.

(2)Deconsolidation of receivable portfolios as a result of the Baycorp Transaction.

(3)Represents the sale of certain portfolios in the Company’s European operations under the co-investment framework.

(4)Does not include amounts collected on behalf of others.

(5)Put-backs (“Put-Backs”) and recalls (“Recalls”) represent ineligible accounts that are returned by us or recalled by the seller pursuant to specific guidelines as set forth in the respective purchase agreements.

(6)Revenue as a percentage of collections excludes the effects of net portfolio allowances or net portfolio allowance reversals.

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):


	Accretable Yield		Estimate of Zero Basis Cash Flows		Total






Balance at December 31, 2017	$	3,695,069	$	369,632	$	4,064,701
Revenue from receivable portfolios	(1,041,947)		(125,185)		(1,167,132)
Allowance reversals on receivable portfolios, net	(32,429)		(9,044)		(41,473)
Net additions on existing portfolios	144,726		18,114		162,840
Additions for current purchases, net	1,155,451		—		1,155,451
Effect of foreign currency translation	(147,699)		(482)		(148,181)
Balance at December 31, 2018	3,773,171		253,035		4,026,206
Revenue from receivable portfolios	(1,185,681)		(83,607)		(1,269,288)
Allowance (allowance reversals) on receivable portfolios, net	16,734		(8,626)		8,108
Additions (reductions) on existing portfolios, net	549,253		(24,289)		524,964
Additions for current purchases, net	1,081,774		—		1,081,774
Effect of foreign currency translation	77,340		(33)		77,307
Balance at December 31, 2019	$	4,312,591	$	136,480	$	4,449,071

During the year ended December 31, 2019, the Company purchased receivable portfolios with a face value of $11.6 billion for $1.0 billion, or a purchase cost of 8.6% of face value. The estimated future collections at acquisition for all portfolios purchased during the year amounted to $2.1 billion.

During the year ended December 31, 2018, the Company purchased receivable portfolios with a face value of $8.5 billion for $1.1 billion, or a purchase cost of 13.3% of face value. The estimated future collections at acquisition for all portfolios purchased during the year amounted to $2.3 billion.

After the net book value of a portfolio has been fully recovered, all collections are recorded as ZBA revenue. During the years ended December 31, 2019, 2018, and 2017, ZBA revenue was approximately $83.6 million, $125.2 million, and $144.1 million, respectively.

The following table summarizes the change in the valuation allowance for investment in receivable portfolios during the periods presented (in thousands):


	Valuation Allowance








Balance at December 31, 2017	$	102,576
Provision for portfolio allowances	14,421
Reversal of prior allowances	(55,894)
Effect of foreign currency translation	(472)
Balance at December 31, 2018	60,631
Provision for portfolio allowances	36,806
Reversal of prior allowances	(28,698)
Baycorp Transaction	(1,036)
Effect of foreign currency translation	1,776
Balance at December 31, 2019	$	69,479

Deferred Court Costs, Net

12 Months Ended

Dec. 31, 2019

Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]

Deferred Court Costs, Net

Note 5: Deferred Court Costs, Net

Deferred Court Costs for the deferral period consist of the following as of the dates presented (in thousands):


	December 31, 2019		December 31, 2018
Court costs advanced	$	891,207	$	828,713
Court costs recovered	(369,043)		(336,335)
Court costs reserve	(421,992)		(396,460)
Deferred court costs	$	100,172	$	95,918

A roll forward of the Company’s court cost reserve is as follows (in thousands):


	December 31, 2019		December 31, 2018		December 31, 2017
Balance at beginning of period	$	(396,460)	$	(364,015)	$	(327,926)
Provision for court costs	(82,987)		(90,026)		(82,702)
Charge-offs	60,618		53,383		50,743
Effect of foreign currency translation	(3,163)		4,198		(4,130)
Balance at end of period	$	(421,992)	$	(396,460)	$	(364,015)

Property and Equipment, Net

12 Months Ended

Dec. 31, 2019

Property, Plant and Equipment [Abstract]

Property and Equipment, Net

Note 6: Property and Equipment, Net

Property and equipment consist of the following, as of the dates presented (in thousands):


	December 31, 2019		December 31, 2018
Computer equipment and software	$	136,426	$	156,769
Leasehold improvements	37,245		28,775
Furniture, fixtures and equipment	10,428		17,335
Telecommunications equipment and other	3,893		1,866
Construction in process	2,089		25,839
	190,081		230,584
Less: accumulated depreciation and amortization	(70,030)		(115,066)
	$	120,051	$	115,518

Depreciation and amortization expense from continuing operations was $33.3 million, $29.5 million, and $31.1 million for the years ended December 31, 2019, 2018, and 2017, respectively.

Other Assets

12 Months Ended

Dec. 31, 2019

Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]

Other Assets

Note 7: Other Assets

Other assets consist of the following (in thousands):


	December 31, 2019		December 31, 2018
Operating lease right-of-use assets	$	75,254	$	—
Identifiable intangible assets, net	51,371		60,581
Assets held for sale	46,717		26,664
Service fee receivables	27,705		28,035
Deferred tax assets	24,134		24,910
Prepaid expenses	22,272		24,989
Other financial receivables	17,308		47,363




Other	64,462		44,460
Total	$	329,223	$	257,002

Borrowings

12 Months Ended

Dec. 31, 2019

Debt Disclosure [Abstract]

Borrowings

Note 8: Borrowings

The Company is in compliance in all material respects with all covenants under its financing arrangements as of December 31, 2019. The components of the Company’s consolidated borrowings were as follows (in thousands):


	December 31, 2019		December 31, 2018
Encore revolving credit facility	$	492,000	$	429,000
Encore term loan facility	171,677		195,056
Encore senior secured notes	308,750		325,000
Encore convertible notes and exchangeable notes	672,855		656,000
Less: debt discount	(30,308)		(36,361)
Cabot senior secured notes	1,129,039		1,111,399

Less: debt discount	(1,604)		(1,477)
Cabot senior revolving credit facility	285,749		298,005
Cabot securitisation senior facility	464,092		445,837
Other	54,151		107,920
Finance lease liabilities	8,121		7,563
	3,554,522		3,537,942
Less: debt issuance costs, net of amortization	(41,325)		(47,309)
Total	$	3,513,197	$	3,490,633

Encore Revolving Credit Facility and Term Loan Facility

The Company has a revolving credit facility (the “Revolving Credit Facility”) and term loan facility (the “Term Loan Facility,” and together with the Revolving Credit Facility, the “Senior Secured Credit Facilities”) pursuant to a Third Amended and Restated Credit Agreement dated December 20, 2016 (as amended, the “Restated Credit Agreement”).

Provisions of the Restated Credit Agreement as of December 31, 2019 include, but are not limited to:

•Revolving Credit Facility commitments of $884.2 million that expire in December 2021 with interest at a floating rate equal to, at the Company’s option, either: (a) reserve adjusted London Interbank Offered Rate (“LIBOR”), plus a spread that ranges from 250 to 300 basis points depending on the cash flow leverage ratio of Encore and its restricted subsidiaries as defined in the Restated Credit Agreement; or (b) alternate base rate, plus a spread that ranges from 150 to 200 basis points, depending on the cash flow leverage ratio of Encore and its restricted subsidiaries. “Alternate base rate,” as defined in the Restated Credit 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, (ii) the

federal funds effective rate from time to time, plus 0.5% per annum, (iii) reserved adjusted LIBOR determined on a daily basis for a one month interest period, plus 1.0% per annum and (iv) zero;

•A $194.6 million term loan maturing in December 2021, with 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 cash flow leverage ratio of Encore and its restricted subsidiaries; or (2) alternate base rate, plus a spread that ranges from 150 to 200 basis points, depending on the cash flow leverage ratio of Encore and its restricted subsidiaries. Principal amortizes $15.3 million in each of 2019 and 2020 with the remaining principal due in 2021;

•A borrowing base under the Revolving Credit Facility equal to 35% of all eligible non-bankruptcy estimated remaining collections plus 55% of eligible estimated remaining collections for consumer receivables subject to bankruptcy;

•A maximum cash flow leverage ratio permitted of 3.00:1.00;

•A maximum cash flow first-lien leverage ratio of 2.00:1.00;

•A minimum interest coverage ratio of 1.75:1.00;

•The allowance of indebtedness in the form of senior secured notes not to exceed $350.0 million;

•The allowance of additional unsecured or subordinated indebtedness not to exceed $1.1 billion, including junior lien indebtedness not to exceed $400.0 million;

•Restrictions and covenants, which limit the payment of dividends and the incurrence of additional indebtedness and liens, among other limitations;

•Repurchases of up to $150.0 million of Encore’s common stock after July 9, 2015, subject to compliance with certain covenants and available borrowing capacity;

•A change of control definition, that excludes acquisitions of stock by Red Mountain Capital Partners LLC, JCF FPK I, LP and their respective affiliates of up to 50% of the outstanding shares of Encore’s voting stock;

•Events of default which, upon occurrence, may permit the lenders to terminate the facility and declare all amounts outstanding to be immediately due and payable;

•A pre-approved acquisition limit of $225.0 million per fiscal year;

•A basket to allow for investments not to exceed the greater of (1) 200% of the consolidated net worth of Encore and its restricted subsidiaries; and (2) an unlimited amount such that after giving effect to the making of any investment, the cash flow leverage ratio is less than 1.25:1:00;

•A basket to allow for investments in persons organized under the laws of Canada in the amount of $50.0 million;

•Collateralization by all assets of the Company, other than the assets of certain foreign subsidiaries and all unrestricted subsidiaries as defined in the Restated Credit Agreement.

At December 31, 2019, the outstanding balance under the Revolving Credit Facility was $492.0 million, which bore a weighted average interest rate of 5.27% and 5.01% for the years ended December 31, 2019 and 2018, respectively. Available capacity under the Revolving Credit Facility, after taking into account borrowing base and applicable debt covenants, was $272.3 million as of December 31, 2019. At December 31, 2019, the outstanding balance under the Term Loan Facility was $171.7 million.

Encore Senior Secured Notes

In August 2017, Encore entered into $325.0 million in senior secured notes with a group of insurance companies (the “Senior Secured Notes”). The Senior Secured Notes bear an annual interest rate of 5.625%, mature in 2024 and beginning in November 2019, require quarterly principal payments of $16.3 million. As of December 31, 2019, $308.8 million of the Senior Secured Notes remained outstanding.

The Senior Secured Notes are guaranteed in full by certain of Encore’s subsidiaries. The Senior Secured Notes are pari passu with, and are collateralized by the same collateral as the Senior Secured Credit Facilities. 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, any series of the Senior Secured Notes may be

accelerated at the election of the holder or holders of a majority in principal amount of such series of Senior Secured Notes upon certain events of default by Encore, including the breach of affirmative covenants regarding guarantors, collateral, minimum revolving credit facility commitment or the breach of any negative covenant. Encore may prepay the Senior Secured Notes at any time for any reason. If Encore prepays the Senior Secured Notes, 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 and material terms in the purchase agreement for the Senior Secured Notes are substantially similar to those in the Restated Credit Agreement. The holders of the Senior Secured Notes 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.

Encore Convertible Notes and Exchangeable Notes

The following table provides a summary of the principal balance, maturity date and interest rate for the outstanding convertible and exchangeable senior notes ($ in thousands):


	December 31, 2019		December 31, 2018		Maturity Date	Interest Rate
2020 Convertible Notes	$	89,355	$	172,500	Jul 1, 2020	3.000	%
2021 Convertible Notes	161,000		161,000		Mar 15, 2021	2.875	%
2022 Convertible Notes	150,000		150,000		Mar 15, 2022	3.250	%
Exchangeable Notes	172,500		172,500		Sep 1, 2023	4.500	%
2025 Convertible Notes	100,000		—		Oct 1, 2025	3.250	%
	$	672,855	$	656,000

In June and July 2013, Encore issued $172.5 million aggregate principal amount of 3.000% convertible senior notes that mature on July 1, 2020 in private placement transactions (the “2020 Convertible Notes”). In March 2014, Encore issued $161.0 million aggregate principal amount of 2.875% convertible senior notes that mature on March 15, 2021 in private placement transactions (the “2021 Convertible Notes”). In March 2017, Encore issued $150.0 million aggregate principal amount of 3.250% convertible senior notes that mature on March 15, 2022 in private placement transactions (the “2022 Convertible Notes”). In September 2019, Encore issued $100.0 million aggregate principal amount of 3.250% convertible senior notes that mature on October 1, 2025 in private placement transactions (the “2025 Convertible Notes” and together with the 2020 Convertible Notes the 2021 Convertible Notes, and the 2022 Convertible Notes, the “Convertible Notes”). The interest on the Convertible Notes is payable semi-annually.

The Company used a portion of the net proceeds from the issuance of the 2025 Convertible Notes to repurchase, in separate privately negotiated transactions, approximately $83.1 million aggregate principal amount of its 2020 Convertible Notes for approximately $85.0 million, including accrued and unpaid interest. Additionally, the Company received proceeds of $1.8 million from the unwind of the capped call options associated with the repurchased portion of the 2020 Convertible Notes. Based on the fair value allocated to the debt and equity components of the 2020 Convertible Notes at the time of repurchase, the Company recognized a pre-tax loss on the repurchase of approximately $1.7 million, which was recorded to other expense in the consolidated statements of operations during the year ended December 31, 2019. In addition, the Company recognized approximately $0.4 million of interest expense to record the write-off of unamortized debt issuance costs associated with the repurchase of the 2020 Convertible Notes in the consolidated statements of operations during the year ended December 31, 2019. Since the capped call options were determined to be equity instruments, the partial unwind of the capped call options was recorded as an increase in additional paid-in capital in the consolidated statements of financial condition as of December 31, 2019.

In July 2018, Encore Finance (defined below), a 100% owned finance subsidiary of Encore, issued $172.5 million aggregate principal amount of exchangeable senior notes due 2023 (the “Exchangeable Notes”) which are fully and unconditionally guaranteed by Encore. The Exchangeable Notes mature on September 1, 2023 and bear interest at a rate of 4.500% per year, payable semi-annually in arrears on March 1 and September 1 of each year, beginning on March 1, 2019.

Unless otherwise indicated in connection with a particular offering of debt securities, Encore will fully and unconditionally guarantee any debt securities issued by Encore Capital Europe Finance Limited (“Encore Finance”), a 100% owned finance subsidiary of Encore. Amounts related to Encore Finance are included in the consolidated financial statements of Encore subsequent to April 30, 2018, the date of the incorporation of Encore Finance.

Prior to the close of business on the business day immediately preceding their respective conversion or exchange date (listed below), holders may convert or exchange their Convertible Notes or Exchangeable Notes under certain circumstances set

forth in the applicable indentures. On or after their respective conversion or exchange dates until the close of business on the scheduled trading day immediately preceding their respective maturity date, holders may convert or exchange their notes at any time. Certain key terms related to the convertible and exchangeable features as of December 31, 2019 are listed below:


	2020 Convertible Notes		2021 Convertible Notes		2022 Convertible Notes		2023 Exchangeable Notes		2025 Convertible Notes
Initial conversion or exchange price	$	45.72	$	59.39	$	45.57	$	44.62	$	40.00
Closing stock price at date of issuance	$	33.35	$	47.51	$	35.05	$	36.45	$	32.00
Closing stock price date	Jun 24, 2013		Mar 5, 2014		Feb 27, 2017		Jul 20, 2018		Sep 4, 2019
Conversion or exchange rate (shares per $1,000 principal amount)	21.8718		16.8386		21.9467		22.4090		25.0000
Conversion or exchange date	Jan 1, 2020		Sep 15, 2020		Sep 15, 2021		Mar 1, 2023		Jul 1, 2025

In the event of conversion or exchange, holders of the Company’s Convertible Notes or Exchangeable 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. The Company’s current intent is to settle conversions and exchanges through combination settlement (i.e., convertible or exchangeable 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 and subject to certain restrictions contained in each of the indentures governing the Convertible Notes and Exchangeable Notes, for the remainder). As a result, and in accordance with authoritative guidance related to derivatives and hedging and earnings per share, only the conversion or exchange spread is included in the diluted earnings per share calculation, if dilutive. Under such method, the settlement of the conversion or exchange spread has a dilutive effect when, during any quarter, the average share price of the Company’s common stock exceeds the initial conversion or exchange prices listed in the above table.

The Company separately accounts for the liability and equity components in a manner that will reflect the entity’s nonconvertible or nonexchangeable debt borrowing rate when interest cost is recognized in subsequent periods. Additionally, debt issuance costs are allocated in proportion to the allocation of the liability and equity components and accounted for as debt issuance costs and equity issuance costs, respectively.

As discussed above, upon exchange of the Exchangeable Notes, 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. The debt and equity components, the issuance costs related to the equity component, the stated interest rate, and the effective interest rate for each of the Convertible Notes and Exchangeable Notes at the time of the original offering are listed below (in thousands, except percentages):


	2020 Convertible Notes⁽¹⁾			2021 Convertible Notes			2022 Convertible Notes			2023 Exchangeable Notes			2025 Convertible Notes
Debt component	$	140,247		$	143,645		$	137,266		$	157,971		$	91,024
Equity component	$	32,253		$	17,355		$	12,734		$	14,009		$	8,976
Equity issuance cost	$	1,106		$	581		$	398		$	—		$	224
Stated interest rate	3.000		%	2.875		%	3.250		%	4.500		%	3.250		%
Effective interest rate	6.350		%	4.700		%	5.200		%	6.500		%	5.000		%

________________________

(1)The Company used a portion of the net proceeds from the issuance of the 2025 Convertible Notes to repurchase approximately $83.1 million aggregate principal amount of its 2020 Convertible Notes. As a result, the remaining principal amount of the 2020 Convertible Notes was $89.4 million as of December 31, 2019.

The balances of the liability and equity components of all the Convertible Notes and Exchangeable Notes outstanding were as follows (in thousands):


	December 31, 2019		December 31, 2018
Liability component—principal amount	$	672,855	$	656,000
Unamortized debt discount	(30,308)		(36,361)
Liability component—net carrying amount	$	642,547	$	619,639
Equity component	$	83,127	$	76,351

The debt discount is being amortized into interest expense over the remaining life of the Convertible Notes and Exchangeable Notes using the effective interest rates. Interest expense related to the Convertible Notes and Exchangeable Notes was as follows (in thousands):


	Year ended December 31,
	2019		2018
Interest expense—stated coupon rate	$	23,845	$	17,518
Interest expense—amortization of debt discount	12,780		10,888
Interest expense—Convertible Notes and Exchangeable Notes	$	36,625	$	28,406

Hedge Transactions

In order to reduce the risk related to the potential dilution and/or the potential cash payments the Company may be required to make in the event that the market price of the Company’s common stock becomes greater than the conversion or exchange prices of the Convertible Notes and the Exchangeable Notes, the Company maintains a hedge program that increases the effective conversion or exchange price for the 2020 Convertible Notes, the 2021 Convertible Notes and the Exchangeable Notes. The Company did not hedge the 2022 Convertible Notes or the 2025 Convertible Notes. As discussed above, the Company unwound the capped call options associated with the portion of the 2020 Convertible Notes repurchased by the Company in September 2019.

The details of the hedge program are listed below (in thousands, except conversion or exchange price):


	2020 Convertible Notes		2021 Convertible Notes		2023 Exchangeable Notes
Cost of the hedge transaction(s)	$	18,113	$	19,545	$	17,785
Initial conversion or exchange price	$	45.72	$	59.39	$	44.62
Effective conversion or exchange price	$	61.55	$	83.14	$	62.48

Cabot Senior Secured Notes

The following table provides a summary of the Cabot senior secured notes ($ in thousands):


	December 31, 2019		December 31, 2018		Maturity Date	Interest Rate
Floating rate senior secured notes due 2024	$	448,921	$	—	Jun 1, 2024	EURIBOR +6.375%
Floating rate senior secured notes due 2021	—		356,067		Nov 15, 2021	EURIBOR +5.875%
Senior secured notes due 2023	680,118		653,355		Oct 1, 2023	7.500	%
Senior secured notes due 2021	—		101,977		Apr 1, 2021	6.500	%
	$	1,129,039	$	1,111,399

In June 2019, Cabot Financial (Luxembourg) II S.A. (“Cabot Financial II”), an indirect subsidiary of Encore, issued €400.0 million (approximately $452.0 million) in aggregate principal amount of Senior Secured Floating Rate Notes due 2024 (the “Cabot 2024 Floating Rate Notes”). The Cabot 2024 Floating Rate Notes mature in June 2024 and bear interest at a rate equal to the sum of (i) three-month EURIBOR (subject to a 0% floor) plus (ii) 6.375%, reset quarterly. Interest is payable quarterly in arrears on January 15, April 15, July 15 and October 15 of each year. The weighted average interest rate was 6.375% for the year ended December 31, 2019.

The proceeds from the issuance of the Cabot 2024 Floating Rate Notes, together with cash on hand, were used to (1) fully redeem existing €310.0 million (approximately $350.3 million) floating rate notes due in November 2021 and pay premium and accrued interest thereon, (2) fully redeem existing £80.0 million (approximately $101.6 million) senior secured notes due in April 2021 and pay accrued interest thereon, and (3) pay commissions, fees and other expenses. The transaction was treated as a debt extinguishment and related fees of approximately $9.0 million were recorded as interest expense in the Company’s consolidated statements of operations during the year ended December 31, 2019. The weighted average interest rate was 5.875% for the years ended December 31, 2019 and 2018.

The Cabot 2024 Floating Rate Notes are fully and unconditionally guaranteed on a senior secured basis by the following indirect subsidiaries of the Company: CCM, Cabot Financial Limited and all material subsidiaries of Cabot Financial Limited (other than Cabot Financial II, Marlin Intermediate Holdings plc, Cabot Securitisation UK Limited and Cabot Securitisation (UK) II Limited). The Cabot 2024 Floating Rate Notes are secured by a first-ranking security interest in all the outstanding shares of Cabot Financial II and the guarantors (other than CCM and Marlin Midway Limited) and substantially all the assets of Cabot Financial II and the guarantors (other than CCM).

Cabot Financial (Luxembourg) S.A. (“Cabot Financial”) has issued £512.9 million (approximately $651.3 million) in aggregate principal amount of 7.500% Senior Secured Notes due 2023 (the “Cabot 2023 Notes”). The Cabot 2023 Notes mature in October 2023. Interest on the Cabot 2023 Notes is payable semi-annually, in arrears, on April 1 and October 1 of each year. The Cabot 2023 Notes are fully and unconditionally guaranteed on a senior secured basis by the following indirect subsidiaries of the Company: CCM, Cabot Financial Limited, and all material subsidiaries of Cabot Financial Limited (other than Cabot Financial, Marlin Intermediate Holdings plc, Cabot Securitisation UK Limited and Cabot Securitisation (UK) II Limited). The Cabot 2023 Notes are secured by a first ranking security interest in all the outstanding shares of Cabot Financial and the guarantors (other than CCM and Marlin Midway Limited) and substantially all the assets of Cabot Financial and the guarantors (other than CCM). Subject to the Intercreditor Agreement described below under “Cabot Senior Revolving Credit Facility,” the guarantees provided in respect of the Cabot 2023 Notes are pari passu with each such guarantee given in respect of the Cabot 2024 Floating Rate Notes and the Cabot Credit Facility described below.

Interest expense related to the Cabot senior secured notes was as follows (in thousands):


	Year ended December 31,
	2019		2018
Interest expense—stated coupon rate	$	76,897	$	84,772

Interest expense—amortization of debt discount	532		343
Interest expense—Cabot senior secured notes	$	77,429	$	85,115

Cabot Senior Revolving Credit Facility

Cabot Financial (UK) Limited (“Cabot Financial UK”) has an amended and restated senior secured revolving credit facility agreement (as amended and restated, the “Cabot Credit Facility”). At December 31, 2019, the Cabot Credit Facility provided for a total committed facility of £375.0 million that expires in September 2023 and included the following key provisions:

•Interest at LIBOR (or EURIBOR for any loan drawn in euro) plus 3.00% per annum;

•A restrictive covenant that limits the loan to value ratio to 0.75 in the event that the Cabot Credit Facility is more than 20% utilized;

•A restrictive covenant that limits the super senior loan (i.e. the Cabot Credit Facility and any super priority hedging liabilities) to value ratio to 0.275;

•Additional restrictions and covenants which limit, among other things, the payment of dividends and the incurrence of additional indebtedness and liens; and

•Events of default which, upon occurrence, may permit the lenders to terminate the Cabot Credit Facility and declare all amounts outstanding to be immediately due and payable.

The Cabot Credit Facility is unconditionally guaranteed by the following indirect subsidiaries of the Company: CCM, Cabot Financial Limited, and all material subsidiaries of Cabot Financial Limited. The Cabot Credit Facility is secured by first ranking security interests in all the outstanding shares of Cabot Financial UK and the guarantors (other than CCM) and substantially all the assets of Cabot Financial UK and the guarantors (other than CCM). Pursuant to the terms of intercreditor agreements entered into with respect to the relative positions of the Cabot 2023 Notes, the Cabot 2024 Floating Rate Notes, and the Cabot Credit Facility, any liabilities in respect of obligations under the Cabot Credit Facility that are secured by assets that also secure the Cabot 2023 Notes, the Cabot 2024 Floating Rate Notes will receive priority with respect to any proceeds received upon any enforcement action over any such assets.

At December 31, 2019, the outstanding borrowings under the Cabot Credit Facility were £215.5 million (approximately $285.7 million). The weighted average interest rate was 3.52% and 3.73% for the years ended December 31, 2019 and 2018, respectively. Available capacity under the Cabot Credit Facility, after taking into account borrowing base and applicable debt covenants, was £159.5 million (approximately $211.5 million) as of December 31, 2019.

Cabot Securitisation Senior Facility

Cabot’s wholly owned subsidiary Cabot Securitisation UK Ltd (“Cabot Securitisation”) entered into a senior facility agreement (the “Senior Facility Agreement”) for a committed amount of £300.0 million, of which £300.0 million was drawn as of December 31, 2019. The Senior Facility Agreement matures in September 2023. The obligations of Cabot Securitisation under the Senior Facility Agreement are secured by first ranking security interests over all of Cabot Securitisation’s property, assets and rights (including receivables purchased from Cabot Financial UK from time to time), the book value of which was £342.2 million (approximately $453.8 million) as of December 31, 2019. Funds drawn under the Senior Facility Agreement will bear interest at a rate per annum equal to LIBOR plus a margin of 2.85%.

In November 2018, Cabot’s wholly owned subsidiary Cabot Securitisation UK II Ltd (“Cabot Securitisation II”) entered into a new non-recourse asset backed senior facility of £50.0 million, of which £50.0 million was drawn as of December 31, 2019. The senior facility matures in September 2023. The facility is secured by first ranking security interests over all of Cabot Securitisation II’s property, assets and rights (including receivables purchased from Cabot Financial UK from time to time), the book value of which was £54.1 million (approximately $71.7 million) as of December 31, 2019. Funds drawn under this facility will bear interest at a rate per annum equal to LIBOR plus a margin of 4.075%.

At December 31, 2019, the outstanding borrowings under the Cabot Securitisation Senior Facility were £350.0 million (approximately $464.1 million). The weighted average interest rate was 3.74% and 3.46% for the year ended December 31, 2019 and 2018.

Cabot Securitisation and Cabot Securitisation II are securitized financing vehicles and are VIEs for consolidation purposes. Refer to “Note 9: Variable Interest Entities” for further details.

Finance Lease Liabilities

The Company has finance lease liabilities primarily for computer equipment. As of December 31, 2019, the Company’s finance lease liabilities were approximately $8.1 million. Refer to “Note 12: Leases” for further details.

Maturity Schedule

The aggregate amounts of the Company’s borrowings, maturing in each of the next five years and thereafter are as follows (in thousands):


2020	$	197,041
2021	900,114
2022	221,768
2023	1,669,840
2024	497,671
Thereafter	100,000
Total	$	3,586,434

Variable Interest Entities	12 Months Ended
Variable Interest Entities	Dec. 31, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Variable Interest Entities	Note 9: Variable Interest Entities 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 expected losses, or the right to receive 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 Company consolidates VIEs when it is the primary beneficiary. The Company evaluates its relationships with its VIEs on an ongoing basis to ensure that it continues to be the primary beneficiary. A reconsideration event is significant if it changes the design of the entity or the entity’s equity investment at risk. Prior to the purchase of all of the outstanding equity of CCM not owned by the Company, CCM’s indirect holding Company Janus Holdings S.a r.l. (“Janus Holdings”) was a VIE. Upon completion of the Cabot Transaction on July 24, 2018 and the subsequent change in organizational structure, Janus Holdings no longer qualified as a VIE and CCM is consolidated via the voting interest model. As of December 31, 2019, the Company’s VIEs include certain securitized financing vehicles and other immaterial special purpose entities that were created to purchase receivable portfolios in certain geographies. The Company is the primary beneficiary of these VIEs. The Company has the power to direct the activities of the VIEs which includes but is not limited to the ability to exercise discretion in the servicing of the financial assets. Most assets recognized as a result of consolidating these VIEs do not represent additional assets that could be used to satisfy claims against the Company’s general assets. Conversely, liabilities recognized as a result of consolidating these VIEs do not represent additional claims on the Company’s general assets; rather, they represent claims against the specific assets of the VIE.

Stock-Based Compensation

12 Months Ended

Dec. 31, 2019

Share-based Payment Arrangement [Abstract]

Stock-Based Compensation

Note 10: Stock-Based Compensation

In April 2017, Encore’s Board of Directors (the “Board”) approved the Encore Capital Group, Inc. 2017 Incentive Award Plan (the “2017 Plan”), which was then approved by the Company’s stockholders on June 15, 2017. The 2017 Plan superseded the Company’s 2013 Incentive Compensation Plan (as amended, the “2013 Plan”), which had previously superseded the Company’s 2005 Stock Incentive Plan (“2005 Plan”). Board members, employees, and consultants of Encore and its subsidiaries and affiliates are eligible to receive awards under the 2017 Plan. Subject to certain adjustments, the Company may grant awards for an aggregate of 5,713,571 shares of the Company’s common stock under the 2017 Plan. The aggregate number

of shares available for issuance under the 2017 Plan will be reduced by 2.12 shares for each share delivered in settlement of any full value award and by one share for each share delivered in settlement of any stock option or stock appreciation right. If an award under the 2017 Plan or the 2013 Plan expires, lapses or is terminated, exchanged for cash, surrendered, repurchased, canceled without having been fully exercised or forfeited, the unused shares covered by such award will again become or again be available for award grants under the 2017 Plan. Shares available under the 2017 Plan will be increased by 2.12 shares for each share subject to a full value award and by one share for each share subject to a stock option or a stock appreciation right, in each case, that become or again be available for issuance pursuant to the foregoing share counting provisions.

The 2017 Plan provides for the grant of incentive stock options, nonqualified stock options, restricted stock, restricted stock units, dividend equivalent rights, stock appreciation rights, cash awards, performance-based awards and any other types of awards not inconsistent with the 2017 Plan.

In accordance with authoritative guidance for stock-based compensation, compensation expense is recognized only for those shares expected to vest, based on the Company’s historical experience and future expectations. The Company has elected a policy of estimating expected forfeitures. Total stock-based compensation expense during the years ended December 31, 2019, 2018, and 2017 was $12.6 million, $13.0 million, and $10.4 million, respectively. The actual tax benefit from stock-based compensation arrangements totaled $1.2 million, $1.3 million, and $3.6 million for the years ended December 31, 2019, 2018, and 2017, respectively. Cash received from option exercise under all share-based payment arrangements for the years ended December 31, 2019, 2018 and 2017, was $0.3 million, $0.7 million and $0.5 million, respectively.

The Company’s stock-based compensation arrangements are described below:

Stock Options

Under the 2005 Plan, option awards were generally granted with an exercise price equal to the market price of the Company’s stock at the date of issuance. They generally vest over three to five years of continuous service, and have ten-year contractual terms. Other than the Performance Options discussed below, no options have been awarded under the 2013 Plan or 2017 Plan.

The Company uses the Black-Scholes option-pricing model to determine the fair-value of stock-based awards. All options are amortized ratably over the requisite service periods of the awards, which are generally the vesting periods. There were no options granted during the years ended December 31, 2019, 2018, or 2017. As of December 31, 2019, all outstanding stock options have been fully vested and all related compensation expense has been fully recognized.

A summary of the Company’s stock option activity as of December 31, 2019, and changes during the year then ended, are presented below:


	Number of Shares	Weighted Average Exercise Price		Weighted Average Remaining Contractual Term (in years)	Aggregate Intrinsic Value (in thousands)
Outstanding at December 31, 2018	55,766	$	15.21


Exercised	(46,600)	13.84

Outstanding at December 31, 2019	9,166	$	22.17	2.26	$	121
Exercisable as of December 31, 2019	9,166	$	22.17	2.26	$	121

The total intrinsic value of options exercised during the years ended December 31, 2019, 2018 and 2017 was $1.0 million, $0.4 million and $0.8 million, respectively.

Performance Stock Options

Under the 2017 Plan and the 2013 Plan, the Company granted performance stock options, with an exercise price equal to the closing price of the Company’s stock at the date of issuance, that vest in equal annual installments over a three year service period but only if, within four years from the date of grant, the 20 trading day average of the closing price of the Company’s stock (subject to dividend-related adjustments) exceeds a target equal to a 25% increase from the closing price on the date of grant. These performance options have a seven-year contractual life.

A summary of the Company’s performance stock option activity as of December 31, 2019, and changes during the year then ended, are presented below:


	Number of Shares	Weighted Average Exercise Price		Weighted Average Remaining Contractual Term (in years)	Aggregate Intrinsic Value (in thousands)
Outstanding at December 31, 2018	216,582	$	31.54


Exercised	(10,952)	30.95
Cancelled/forfeited	(13,872)	30.95
Expired	(27,745)	30.95
Outstanding at December 31, 2019	164,013	$	31.73	4.21	$	665
Vested and expected to vest as of December 31, 2019	163,024	$	31.73	4.21	$	660
Exercisable as of December 31, 2019	105,696	$	31.75	4.21	$	427

As of December 31, 2019, there was $0.1 million of total unrecognized compensation cost related to non-vested performance stock options which is expected to be recognized over a period of approximately 0.2 years. The weighted average grant date fair value for performance stock options granted during the year ended December 31, 2017 was $31.32. No performance stock options were granted during the years ended December 31, 2019 or 2018.

Non-Vested Shares

The Company’s 2017 Plan (and previously, the 2013 Plan and 2005 Plan), permits restricted stock units, restricted stock awards, performance stock units, and performance stock awards (collectively “stock awards”). The fair value of non-vested shares with a service condition and/or a performance condition that affect vesting is equal to the closing sale price of the Company’s common stock on the grant date. Compensation cost is recognized only for the awards that ultimately vest. The Company has certain share awards that include market conditions that affect vesting. The fair value of these shares is estimated using a lattice model. Compensation cost is not adjusted if the market condition is not met, as long as the requisite service is provided. For the majority of non-vested shares, shares are issued on the vesting dates net of the number of shares needed to satisfy minimal statutory tax withholding requirements. The tax obligations are then paid by the Company on behalf of the employees.

A summary of the status of the Company’s stock awards as of December 31, 2019, and changes during the year then ended, is presented below:


	Non-Vested Shares ⁽¹⁾	Weighted Average Grant Date Fair Value
Non-vested at December 31, 2018	859,932	$	34.43
Awarded	569,872	$	32.42
Vested	(267,157)	$	35.32
Cancelled	(240,117)	$	32.00
Non-vested at December 31, 2019	922,530	$	33.11

________________________

(1)Certain of the Company’s stock awards have a vesting matrix under which the stock awards can vest at a maximum level that is 200% of the shares that would vest for achieving the performance goals at target. The number of shares presented is based on achieving the performance goals at target levels as defined in the stock award agreements. As of December 31, 2019 and 2018, the maximum number of non-vested performance shares that could vest under the provisions of the agreements was 1,171,334 and 1,218,359, respectively.

Unrecognized compensation expense related to non-vested shares as of December 31, 2019 was $13.0 million. The weighted-average remaining expense period, based on the unamortized value of these outstanding non-vested shares, was approximately 1.3 years. The fair value of restricted stock units and restricted stock awards vested for the years ended December 31, 2019, 2018, and 2017 was $8.9 million, $8.8 million, and $7.8 million, respectively. The weighted average grant date fair value for stock awards granted during the years ended December 31, 2019, 2018 and 2017 was $32.42, $38.52 and $33.09, respectively.

Income Taxes

12 Months Ended

Dec. 31, 2019

Income Tax Disclosure [Abstract]

Income Taxes

Note 11: Income Taxes

Income before provision for income taxes consisted of the following (in thousands):


	Year Ended December 31,
	2019		2018		2017
US	$	144,495	$	61,972	$	71,794
Foreign	56,747		94,516		59,432
Total income before provision for income taxes	$	201,242	$	156,488	$	131,226

The income tax provision on earnings from continuing operations consisted of the following (in thousands):


	Year Ended December 31,
	2019		2018		2017
Current expense (benefit):
Federal	$	(2,917)	$	23,254	$	9,969
State	(6,464)		2,983		(794)
Foreign	21,008		29,532		15,690
	11,627		55,769		24,865
Deferred expense (benefit):
Federal	27,640		(10,447)		16,563
State	5,535		(2,169)		784
Foreign	(12,469)		3,599		9,837
	20,706		(9,017)		27,184
Provision for income taxes	$	32,333	$	46,752	$	52,049

The reconciliation of federal statutory income tax rate to our effective tax rate was as follows:


	Year Ended December 31,
	2019		2018		2017
Federal provision	21.0	%	21.0	%	35.0	%
State provision	0.2	%	0.1	%	0.5	%
Foreign rate differential⁽¹⁾	(2.2)	%	(11.7)	%	(20.0)	%
Transaction costs⁽²⁾	0.0	%	1.0	%	5.0	%

Permanent items⁽³⁾	0.0	%	1.1	%	10.2	%

Change in valuation allowance⁽⁴⁾	(0.5)	%	17.7	%	8.2	%
IRS settlement⁽⁵⁾	(2.4)	%	—	%	—	%
Other	0.0	%	0.7	%	0.8 %
Effective rate	16.1	%	29.9	%	39.7	%

________________________

(1)Relates primarily to the lower tax rates on the income or loss attributable to international operations.

(2)In 2018, relates primarily to transaction costs incurred in connection with the Cabot Transaction. In 2017, relates primarily to certain withdrawn IPO costs disallowed for U.K. tax purposes.

(3)Represents a provision for nondeductible items, including nondeductible interest in a foreign subsidiary and certain foreign income taxable in the U.S. under Internal Revenue Code Section 951 (Subpart F) in 2017.

(4)Net decrease in valuation allowance during 2019 is attributable to disposition of certain foreign subsidiaries with cumulative operating losses for tax purposes. In 2017 and 2018, valuation allowance net increase recorded as a result of certain foreign subsidiaries’ cumulative operating losses for tax purposes.

(5)In 2019, includes tax benefit resulting from tax accounting method change.

The Company’s subsidiary in Costa Rica is operating under a 100% tax holiday through December 31, 2026. The impact of the tax holiday in Costa Rica for the year ended December 31, 2019 was immaterial.

The Company has not provided for applicable income or withholding taxes on the undistributed earnings from continuing operations for certain of its subsidiaries operating outside of the United States. Undistributed net income of these subsidiaries as of December 31, 2019, was approximately $151.3 million. Such undistributed earnings are considered permanently reinvested. The Company does not provide for deferred taxes on translation adjustments on unremitted earnings under the indefinite reversal exemption. Determination of the amount of unrecognized deferred tax liability related to these earnings is not practicable due to the complexities of a hypothetical calculation. Subsidiaries operating outside of the United States, for which the Company does not consider under the indefinite reversal exemption, have no material undistributed earnings or outside basis differences, and therefore, no U.S. taxes have been provided.

Deferred income taxes reflect the net effects of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the carrying amounts for income tax purposes. Significant components of the Company's deferred tax assets and liabilities were as follows (in thousands):


	December 31, 2019		December 31, 2018
Deferred tax assets:
Net operating losses	$	36,236	$	42,013
Financing obligation	18,023		—
Accrued expenses	10,050		17,715
Difference in basis of bond and loan costs	4,194		3,728
Stock-based compensation	2,882		2,796
State taxes	1		174
Differences in income recognition related to receivable portfolios	—		13,857
Prepaid expenses	—		2,949
Other	1,821		4,825
Total deferred tax assets	73,207		88,057
Valuation allowance	(36,422)		(46,516)
Total deferred tax assets net of valuation allowance	36,785		41,541
Deferred tax liabilities:
Deferred court costs	(23,682)		(23,484)
Right-of-use asset	(14,422)		—
Difference in basis of depreciable and amortizable assets	(3,680)		(1,937)
Prepaid expenses	(628)		—
Other	(4,616)		(3,403)
Total deferred tax liabilities	(47,028)		(28,824)
Net deferred tax (liability) asset⁽¹⁾	$	(10,243)	$	12,717

________________________

(1)The Company operates in multiple jurisdictions. In accordance with authoritative guidance relating to income taxes, deferred tax assets and liabilities are netted for each tax-paying component of the Company within a particular tax jurisdiction and presented as a single amount in the statement of financial condition.

As of December 31, 2019, certain of the Company’s foreign subsidiaries have net operating loss carry forwards of approximately $238.2 million, which will begin to expire in 2024. Certain of the Company's domestic subsidiaries have state net operating losses of approximately $2.2 million, which will generally begin to expire in 2020.

Valuation allowances are recognized on deferred tax assets if the Company believes that it is more likely than not that some or all of the deferred tax assets will not be realized. As of December 31, 2019, valuation allowances decreased to $36.4 million, as compared to $46.5 million as of December 31, 2018. The decrease was primarily related to the disposition of certain foreign entities with cumulative operating losses for tax purposes during the year ended December 31, 2019.

A reconciliation of the beginning and ending amounts of unrecognized tax benefit is as follows (in thousands):


	Amount





Balance at December 31, 2016	$	18,945
Increases related to current year tax positions	5,902
Decreases related to current year tax positions	(4,599)
Decreases related to settlements with taxing authorities	(228)
Balance at December 31, 2017	20,020


Increases related to prior year tax positions	256
Increases related to current year tax positions	1,958
Decrease related to expiration of statute of limitations	(3,221)
Decreases related to settlements with taxing authorities	(461)
Balance at December 31, 2018	18,552
Decreases related to prior year tax positions	(10,673)
Increases related to current year tax positions	4,442
Decrease related to expiration of statute of limitations	(2,493)
Decreases related to settlements with taxing authorities	(1,920)
Balance at December 31, 2019	$	7,908

The Company had gross unrecognized tax benefits, inclusive of penalties and interest, of $8.2 million, $19.9 million and $22.2 million at December 31, 2019, 2018, and 2017 respectively. At December 31, 2019, 2018 and 2017, there was $7.6 million, $13.0 million and $9.9 million, respectively, of unrecognized tax benefit that if recognized, would result in a net tax benefit. During the year ended December 31, 2019, the decrease in the Company’s gross unrecognized tax benefit was primarily related to decreases in prior year tax positions resulting from exam resolutions. During the year ended December 31, 2018, the decrease in the Company’s gross unrecognized tax benefit was primarily related to expiration of state statute of limitations. During the year ended December 31, 2017, the increase in the Company’s gross unrecognized tax benefit was primarily related to prepaid services to be performed within three and a half months of December 31, 2017.

The Company believes that an adequate provision has been made for any adjustments that may result from tax examinations. However, it is reasonably possible that certain changes may occur within the next 12 months, which could significantly increase or decrease the balance of the Company’s gross unrecognized tax benefits.

The Company recognizes interest and penalties related to unrecognized tax benefits as a component of tax expense. The Company recognized a benefit of approximately $2.7 million, and expense of $0.6 million and $0.8 million in interest and penalties during the years ended December 31, 2019, 2018 and 2017, respectively. Interest and penalties accrued as of December 31, 2019 and 2018 were $0.3 million and $1.4 million, respectively.

The Company files federal, state and non-U.S. income tax returns in jurisdictions with varying statutes of limitations. The Internal Revenue Service has completed examinations of the Company’s U.S. federal income tax returns for tax years 2012 through 2017, and the Company is no longer subject to federal tax examinations for years prior to 2018. For U.S. state tax returns, the Company is generally not subject to tax examinations for years prior to 2012. The Company is subject to the examination of its income tax returns by various taxing authorities, and the timing of the resolution of income tax examinations cannot be predicted with certainty. The Company’s management regularly assesses the likelihood of adverse outcomes resulting from these examinations to determine the adequacy of the Company’s provision for income taxes. If any issues addressed in the Company’s tax examinations are resolved in a manner not consistent with management's expectations, the Company could be required to adjust its provision for income taxes in the period such resolution occurs.

Leases (Notes)

12 Months Ended

Dec. 31, 2019

Leases [Abstract]

Leases

Note 12: Leases

Effective January 1, 2019, the Company adopted Topic 842 using the modified retrospective method. As such, the Company recognized operating lease right-of-use (“ROU”) assets and operating lease liabilities in the consolidated statements of financial condition. Prior period financial statements were not adjusted under the new standard and therefore, those amounts are not presented below. The Company elected not to apply the recognition requirements to short-term leases, not to separate non-lease components from lease components, and elected the transition provisions available for existing contracts, which allowed the Company to carryforward its historical assessments of (1) whether contracts are or contain a lease, (2) lease classification, and (3) initial direct costs.

ROU assets represent the Company’s right to use an underlying asset during the lease term and lease liabilities represent the Company's obligation to make lease payments arising from the lease. ROU assets and lease liabilities are recognized at commencement date based on the net present value of fixed lease payments over the lease term. The Company’s lease term includes options to extend or terminate the lease when it is reasonably certain that it will exercise that option. ROU assets also include any advance lease payments made and are net of any lease incentives. As most of the Company’s operating leases do not provide an implicit rate, the Company uses its incremental borrowing rate based on the information available at commencement date in determining the present value of lease payments. The incremental borrowing rate is the rate of interest that the Company would expect to pay to borrow over a similar term, and on a collateralized basis, an amount equal to the lease payments in a similar economic environment.

The majority of the Company’s leases are for corporate offices, various facilities and information technology equipment. The components of lease expense for the year ended December 31, 2019 were as follows (in thousands):


	Year Ended December 31, 2019
Operating lease costs⁽¹⁾	$	19,450
Finance lease costs
Amortization of right-of-use assets	1,825
Interest on lease liabilities	563
Total lease costs	$	21,838

________________________

(1)Operating lease expenses are included in general and administrative expenses in the Company’s consolidated statements of operations. Costs include short-term and variable lease components which were not material for the period.

The following table provides supplemental consolidated statement of financial condition information related to leases as of December 31, 2019 (in thousands):


	Classification	December 31, 2019
Assets
Operating lease right-of-use assets	Other assets	$	75,254
Finance lease right-of-use assets	Property and equipment, net	9,133
Total lease right-of-use assets		$	84,387

Liabilities
Operating lease liabilities	Other liabilities	$	93,847
Finance lease liabilities	Borrowings	8,121
Total lease liabilities		$	101,968

Supplemental lease information is summarized below (in thousands, except rate and lease term):


	Year Ended December 31, 2019
Right-of-use assets obtained in exchange for new operating lease obligations	$	123,477
Right-of-use assets obtained in exchange for new finance lease obligations	5,299
Cash paid for amounts included in the measurement of lease liabilities
Operating leases - operating cash flows	14,874
Finance leases - operating cash flows	295
Finance leases - financing cash flows	1,898


	December 31, 2019
Weighted-average remaining lease term
Operating leases	8.1 years
Finance leases	3.1 years
Weighted-average discount rate
Operating leases⁽¹⁾	5.3	%
Finance leases	4.7	%

________________________

(1)Upon adoption of the new lease standard, discount rates used for existing operating leases were established at January 1, 2019.

Minimum future payments on noncancelable leases as of December 31, 2019 are summarized as follows (in thousands):


	Finance Leases		Operating Leases		Total
2020	$	2,898	$	17,898	$	20,796
2021	2,736		16,845		19,581
2022	2,509		13,726		16,235
2023	597		12,534		13,131
2024	—		12,275		12,275
Thereafter	—		41,497		41,497
Total undiscounted lease payments	8,740		114,775		123,515
Less: imputed interest	(619)		(20,928)		(21,547)
Lease obligations	$	8,121	$	93,847	$	101,968

As previously disclosed in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2018 and under the previous lease accounting standard, minimum future payments on noncancelable leases as of December 31, 2018 are summarized as follows (in thousands):


	Finance Leases		Operating Leases		Total
2019	$	2,507	$	16,538	$	19,045
2020	1,983		13,850		15,833
2021	1,844		13,044		14,888
2022	1,630		11,737		13,367
2023	204		9,741		9,945
Thereafter	—		37,997		37,997
Total minimal leases payments	8,168		$	102,907	$	111,075
Less: interest	(605)
Present value of minimal lease payments	$	7,563

Leases

Note 12: Leases


	Year Ended December 31, 2019
Operating lease costs⁽¹⁾	$	19,450
Finance lease costs
Amortization of right-of-use assets	1,825
Interest on lease liabilities	563
Total lease costs	$	21,838

________________________

The following table provides supplemental consolidated statement of financial condition information related to leases as of December 31, 2019 (in thousands):


	Classification	December 31, 2019
Assets
Operating lease right-of-use assets	Other assets	$	75,254
Finance lease right-of-use assets	Property and equipment, net	9,133
Total lease right-of-use assets		$	84,387

Liabilities
Operating lease liabilities	Other liabilities	$	93,847
Finance lease liabilities	Borrowings	8,121
Total lease liabilities		$	101,968

Supplemental lease information is summarized below (in thousands, except rate and lease term):


	Year Ended December 31, 2019
Right-of-use assets obtained in exchange for new operating lease obligations	$	123,477
Right-of-use assets obtained in exchange for new finance lease obligations	5,299
Cash paid for amounts included in the measurement of lease liabilities
Operating leases - operating cash flows	14,874
Finance leases - operating cash flows	295
Finance leases - financing cash flows	1,898


	December 31, 2019
Weighted-average remaining lease term
Operating leases	8.1 years
Finance leases	3.1 years
Weighted-average discount rate
Operating leases⁽¹⁾	5.3	%
Finance leases	4.7	%

________________________

(1)Upon adoption of the new lease standard, discount rates used for existing operating leases were established at January 1, 2019.

Minimum future payments on noncancelable leases as of December 31, 2019 are summarized as follows (in thousands):


	Finance Leases		Operating Leases		Total
2020	$	2,898	$	17,898	$	20,796
2021	2,736		16,845		19,581
2022	2,509		13,726		16,235
2023	597		12,534		13,131
2024	—		12,275		12,275
Thereafter	—		41,497		41,497
Total undiscounted lease payments	8,740		114,775		123,515
Less: imputed interest	(619)		(20,928)		(21,547)
Lease obligations	$	8,121	$	93,847	$	101,968


	Finance Leases		Operating Leases		Total
2019	$	2,507	$	16,538	$	19,045
2020	1,983		13,850		15,833
2021	1,844		13,044		14,888
2022	1,630		11,737		13,367
2023	204		9,741		9,945
Thereafter	—		37,997		37,997
Total minimal leases payments	8,168		$	102,907	$	111,075
Less: interest	(605)
Present value of minimal lease payments	$	7,563

Commitments and Contingencies	12 Months Ended
Commitments and Contingencies	Dec. 31, 2019
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Note 13: Commitments and Contingencies Litigation and Regulatory The Company is involved in disputes, legal actions, regulatory investigations, inquiries, and other 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 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 investigated or 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 or unsupported assertions of fact in support of its collection actions and/or has acted improperly in connection with its efforts to contact consumers. Such litigation and regulatory actions could involve potential compensatory or punitive damage claims, fines, sanctions, injunctive relief, or changes in business practices. Many continue on for some length of time and involve substantial investigation, litigation, negotiation, and other expense and effort before a result is achieved, and during the process the Company often cannot determine the substance or timing of any eventual outcome. 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. 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 its pending litigation and regulatory matters and revises its estimates when additional information becomes available. The Company’s legal costs are recorded to expense as incurred. As of December 31, 2019, the Company has no material reserves for legal matters. Purchase Commitments In the normal course of business, the Company enters into forward flow purchase agreements and other purchase commitment agreements. As of December 31, 2019, the Company had entered into agreements to purchase receivable portfolios with a face value of approximately $2.4 billion for a purchase price of approximately $298.9 million. Most purchase commitments do not extend past one year. Guarantees Encore’s Certificate of Incorporation and indemnification agreements between the Company and its officers and directors provide that the Company will indemnify and hold harmless its officers and directors for certain events or occurrences arising as a result of the officer or director serving in such capacity. The Company has also agreed to indemnify certain third parties under certain circumstances pursuant to the terms of certain underwriting agreements, registration rights agreements, credit facilities, portfolio purchase and sale agreements, and other agreements entered into by the Company in the ordinary course of business. The maximum potential amount of future payments the Company could be required to make under these indemnification agreements is unlimited. The Company believes the estimated fair value of these indemnification agreements is minimal and, as of December 31, 2019, has no liabilities recorded for these agreements.

Segment Information

12 Months Ended

Dec. 31, 2019

Segment Reporting [Abstract]

Segment Information

Note 14: Segment Information

The Company conducts business through several operating segments. 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 Company determined its operating segments meet the aggregation criteria, and therefore, it has one reportable segment, portfolio purchasing and recovery, based on similarities among the operating units including economic characteristics, the nature of the services, the nature of the production process, customer types for their services, the methods used to provide their services and the nature of the regulatory environment.

The following tables present information about geographic areas in which the Company operates (in thousands):


	Year Ended December 31,
	2019		2018		2017
Total revenues, adjusted by net allowances⁽¹⁾:
United States	$	817,693	$	709,493	$	665,564
International
Europe⁽²⁾	520,433		556,265		427,655
Other geographies	59,555		96,272		93,819
Total	$	1,397,681	$	1,362,030	$	1,187,038

________________________

(1)Revenues are attributed to countries based on consumer location.

(2)Based on the financial information that is used to produce the general-purpose financial statements, providing further geographic information is impracticable.


	December 31, 2019		December 31, 2018
Long-lived assets⁽¹⁾:
United States	$	84,118	$	76,791
International
United Kingdom	28,602		27,454
Other foreign countries	7,331		11,273
	35,933		38,727
Total	$	120,051	$	115,518

________________________

(1)Long-lived assets consist of property and equipment, net and finance leases.

Goodwill and Identifiable Intangible Assets

12 Months Ended

Dec. 31, 2019

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Identifiable Intangible Assets

Note 15: Goodwill and Identifiable Intangible Assets

The Company’s goodwill is attributable to reporting units included in its portfolio purchasing and recovery segment. Goodwill is tested for impairment at the reporting unit level annually and in interim periods if certain events occur that indicate that the fair value of a reporting unit may be below its carrying value. Determining the number of reporting units and the fair value of a reporting unit requires the Company to make judgments and involves the use of significant estimates and assumptions. The Company performs its annual goodwill impairment assessment as of October 1. As of October 1, 2019, the Company had two reporting units, MCM and Cabot, that carried goodwill.

The Company first assesses qualitative factors to determine whether it is necessary to perform the quantitative goodwill impairment test. The qualitative factors include economic environment, business climate, market capitalization, operating performance, competition, and other factors. The Company may proceed directly to the quantitative test without performing the qualitative test. For the goodwill impairment tests performed as of October 1, 2019, the Company performed qualitative analysis for the MCM reporting unit and proceeded directly to the quantitative test for its Cabot reporting unit.

If goodwill is quantitatively assessed for impairment and a reporting unit’s carrying value exceeds its fair value, the difference is recorded as an impairment. The Company applies various valuation techniques to measure the fair value of each reporting unit, including the income approach and the market approach. For goodwill impairment analyses, the Company uses the income approach in determining fair value, specifically the discounted cash flow method, or DCF. In applying the DCF method, an identified level of future cash flow is estimated. Annual estimated cash flows and a terminal value are then discounted to their present value at an appropriate discount rate to obtain an indication of fair value. The discount rate utilized reflects estimates of required rates of return for investments that are seen as similar to an investment in the reporting unit. DCF analyses are based on management’s long-term financial projections and require significant judgments. Therefore, for the Company’s reporting units where the Company has access to reliable market participant data, the market approach is conducted in addition to the income approach in determining the fair value. The Company uses a guideline company method under the market approach to estimate the fair value of equity and the market value of invested capital (“MVIC”). The guideline company approach relies on estimated remaining collections data or the earnings before interest, tax, depreciation and amortization (“EBITDA”) for each of the selected guideline companies, which enables a direct comparison between the reporting unit and the selected peer group. The Company believes that the current methodology used in determining the fair value at its reporting units represent its best estimates. In addition, the Company compares the aggregate fair value of the reporting units to its overall market capitalization.

Based on the annual goodwill impairment tests performed at October 1, 2019, no goodwill impairment existed at these two reporting units.

On August 15, 2019, the Company completed the sale of Baycorp. The Company concluded that the fair value of Baycorp immediately prior to the Baycorp Transaction was less than its recorded book value and, as a result, the entire goodwill balance carried at the Baycorp reporting unit of $10.7 million was impaired. The goodwill impairment is included in operating expenses in the Company’s consolidated statements of operations during the year ended December 31, 2019.

Management continues to evaluate and monitor all key factors impacting the carrying value of the Company’s recorded goodwill and long-lived assets. Further adverse changes in the Company’s actual or expected operating results, market capitalization, business climate, economic factors or other negative events that may be outside the control of management could result in a material non-cash impairment charge in the future.

In December 2018, the Company completed the sale of all its interests in Refinancia S.A. and its subsidiaries (collectively, “Refinancia”) to the existing minority shareholders of Refinancia. As a result, the Company no longer consolidates Refinancia and the goodwill carried at Refinancia was eliminated from the Company’s consolidated statements of financial position.

The following table summarizes the activity in the Company’s goodwill balance, as follows (in thousands):


	2019		2018
Balance at beginning of period:	$	868,126	$	928,993

Goodwill adjustment	—		(2,213)
Goodwill eliminated in connection with divestiture	—		(13,347)
Goodwill impairment	(10,718)		—
Effect of foreign currency translation	26,777		(45,307)
Balance at end of period:	$	884,185	$	868,126

The Company’s acquired intangible assets are summarized as follows (in thousands):


	As of December 31, 2019										As of December 31, 2018
	Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount		Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount
Customer relationships	$	67,897	$	(18,191)	$	49,706	$	73,458	$	(17,025)	$	56,433
Developed technologies	4,734		(4,124)		610		7,461		(6,446)		1,015
Trade name and other	6,299		(5,244)		1,055		8,346		(5,213)		3,133

Total intangible assets	$	78,930	$	(27,559)	$	51,371	$	89,265	$	(28,684)	$	60,581

The weighted-average useful lives of intangible assets at the time of acquisition were as follows (in years):


			Weighted-Average Useful Lives
Customer relationships			10
Developed technologies			5
Trade name and other			7

The amortization expense for intangible assets subject to amortization was $7.7 million, $11.7 million, and $8.9 million for the years ended December 31, 2019, 2018, and 2017, respectively. Estimated future amortization expense related to finite-lived intangible assets at December 31, 2019 is as follows (in thousands):


2020	$	7,304
2021	7,168
2022	6,573
2023	6,187
2024	6,094
Thereafter	18,045
Total	$	51,371

Quarterly Information (Unaudited)

12 Months Ended

Dec. 31, 2019

Quarterly Financial Information Disclosure [Abstract]

Quarterly Information (Unaudited)

Note 16: Quarterly Information (Unaudited)

The following table summarizes quarterly financial data for the periods presented (in thousands, except per share amounts):


	Three Months Ended
	March 31		June 30		September 30		December 31
2019
Gross collections	$	513,853	$	514,881	$	499,395	$	498,799
Total revenues, adjusted by net allowances	347,077		346,874		355,936		347,794
Total operating expenses	236,019		233,142		247,591		234,584
Income from continuing operations	49,442		36,822		39,413		43,232
Net income	49,442		36,822		39,413		43,232
Amounts attributable to Encore Capital Group, Inc.:
Income from continuing operations	49,254		36,661		38,869		43,085
Net income attributable to Encore Capital Group, Inc. stockholders	49,254		36,661		38,869		43,085
Earnings per share attributable to Encore Capital Group, Inc.:
Basic earnings per share	$	1.58	$	1.17	$	1.24	$	1.38
Diluted earnings per share	1.57		1.17		1.23		1.36

2018
Gross collections	$	489,102	$	496,093	$	498,843	$	483,582
Total revenues, adjusted by net allowances	326,788		349,747		336,774		348,721
Total operating expenses	238,336		246,314		239,246		232,834
Income from continuing operations	23,713		26,974		13,016		46,033
Net income	23,713		26,974		13,016		46,033
Amounts attributable to Encore Capital Group, Inc.:
Income from continuing operations	21,827		26,298		20,725		47,036
Net income attributable to Encore Capital Group, Inc. stockholders	21,827		26,298		20,725		47,036
Earnings per share attributable to Encore Capital Group, Inc.:
Basic earnings per share	$	0.84	$	1.01	$	0.69	$	1.51
Diluted earnings per share	0.83		1.00		0.69		1.50

Subsequent Event	12 Months Ended
Subsequent Event	Dec. 31, 2019
Subsequent Events [Abstract]
Subsequent Event	Note 17: Subsequent Event On February 18, 2020, Cabot Securitisation amended and restated its Senior Facility Agreement. Pursuant to the amendment and restatement of the Senior Facility Agreement, the total commitment amount was increased by £50.0 million from £300.0 million to £350.0 million, the repayment date was extended from September 15, 2023 to March 15, 2025 and SONIA (sterling overnight index average) replaced LIBOR as the reference rate. Funds drawn under the amended and restated Senior Facility Agreement bear interest at a rate per annum equal to SONIA plus a margin of 3.06% plus, for periods after March 15, 2023, a step-up margin ranging from zero to 1.00%. Cabot Securitisation has drawn down the additional £50.0 million and used the proceeds to purchase receivables from Cabot Securitisation II in order to effect the termination of the £50.0 million senior facility of Cabot Securitisation II.

Ownership, Description of Business, and Summary of Significant Accounting Policies (Policies)

12 Months Ended

Dec. 31, 2019

Accounting Policies [Abstract]

Basis of Consolidation

Translation of Foreign Currencies

Reclassifications

Certain immaterial reclassifications have been made to the prior years’ consolidated financial statements to conform to current year presentation.

Change in Accounting Principle and Recent Accounting Pronouncements

Change in Accounting Principle

Recent Accounting Pronouncements

Recent Accounting Pronouncements Not Yet Effective

Use of Estimates

Cash and Cash Equivalents

Cash and Cash EquivalentsCash and cash equivalents consist of highly liquid investments with maturities of three months or less at the date of purchase. The Company maintains its cash and cash equivalents in multiple financial institutions and certain account balances exceed federally insurable limits. To date, the Company has experienced no loss or lack of access to cash in its bank accounts. The Company believes any risks are mitigated by maintaining cash with highly rated financial institutions. The carrying amounts reported in the consolidated statements of financial condition for cash and cash equivalents approximate their fair value.

Restricted Cash

Included in cash and cash equivalents is cash collected on behalf of and due to third-party clients. A corresponding balance is included in accounts payable and accrued liabilities.

Investment in Receivable Portfolios

Effective January 1, 2020, the Company’s investment in receivable portfolios is accounted for under CECL.

Fee-Based Income

Goodwill and Other Intangible Assets

Property and Equipment


Fixed Asset Category						Estimated Useful Life
Leasehold improvements						Lesser of lease term, including periods covered by renewal options, or useful life
Furniture, fixtures and equipment						5 to 10 years
Computer hardware and software						3 to 5 years

Deferred Court Costs

Income Taxes

Management must make significant judgments to determine the provision for income taxes, deferred tax assets and liabilities, and any valuation allowance to be recorded against deferred tax assets.

Stock-Based Compensation

Derivative Instruments and Hedging Activities

Derivative Instruments and Hedging ActivitiesThe Company recognizes all derivative financial instruments in its consolidated financial statements at fair value. Changes in the fair value of derivative instruments are recorded in earnings unless hedge accounting criteria are met. The Company designates certain derivative instruments as cash flow hedges. The changes in fair value of derivatives designated as cash flow hedges is recorded each period, net of tax, in accumulated other comprehensive income or loss until the related hedged transaction occurs. If in the event the hedged cash flow does not occur, or it becomes probable that it will not occur, the Company would reclassify the amount of any gain or loss on the related cash flow hedge to income or expense at that time. If the hedged cash flows are still reasonably possible to occur, the hedged cash flows will continue to be recorded in accumulated other comprehensive income or loss until the hedged cash flows are no longer probable of occurring. See “Note 3: Derivatives and Hedging Instruments” for further discussion.

Earnings Per Share

Fair Value Measurements

air value is defined 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 Company uses 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:•Level 1: Observable inputs such as quoted prices (unadjusted) in active markets for identical assets or liabilities.

•Level 3: Unobservable inputs, including inputs that reflect the reporting entity’s own assumptions.

Ownership, Description of Business, and Summary of Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2019

Accounting Policies [Abstract]

Estimated Useful Lives of Property and Equipment

The provision for depreciation and amortization is computed using the straight-line method over the estimated useful lives of the assets as follows:


Fixed Asset Category						Estimated Useful Life
Leasehold improvements						Lesser of lease term, including periods covered by renewal options, or useful life
Furniture, fixtures and equipment						5 to 10 years
Computer hardware and software						3 to 5 years

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, except per share amounts):


	Year Ended December 31,
	2019		2018		2017
Amounts attributable to Encore Capital Group, Inc.:
Income from continuing operations	$	167,869	$	115,886	$	83,427
Loss from discontinued operations, net of tax	—		—		(199)
Net income	$	167,869	$	115,886	$	83,228

Total weighted-average basic shares outstanding	31,210		28,313		25,972
Dilutive effect of stock-based awards	264		259		255
Dilutive effect of convertible and exchangeable senior notes	—		—		178
Total weighted-average dilutive shares outstanding	31,474		28,572		26,405

Basic earnings (loss) per share from:
Continuing operations	$	5.38	$	4.09	$	3.21
Discontinued operations	—		—		(0.01)
Net basic earnings per share	$	5.38	$	4.09	$	3.20
Diluted earnings (loss) per share from:
Continuing operations	$	5.33	$	4.06	$	3.16
Discontinued operations	—		—		(0.01)
Net diluted earnings per share	$	5.33	$	4.06	$	3.15

Fair Value Measurements (Tables)

12 Months Ended

Dec. 31, 2019

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):


	Fair Value Measurements as of December 31, 2019
	Level 1		Level 2		Level 3		Total
Assets
Foreign currency exchange contracts	$	—	$	1,473	$	—	$	1,473
Interest rate cap contracts	—		2,460		—		2,460
Liabilities

Interest rate swap agreements	—		(9,116)		—		(9,116)
Contingent consideration	—		—		(66)		(66)


	Fair Value Measurements as of December 31, 2018
	Level 1		Level 2		Level 3		Total
Assets

Interest rate cap contracts	$	—	$	2,023	$	—	$	2,023
Liabilities
Foreign currency exchange contracts	—		(237)		—		(237)
Interest rate swap agreements	—		(4,881)		—		(4,881)
Contingent consideration	—		—		(6,198)		(6,198)

Schedule of Fair Value of Contingent Consideration

The following table provides a roll-forward of the fair value of contingent consideration for the years ended December 31, 2019, 2018 and 2017 (in thousands):


	Amount





Balance at December 31, 2016	$	2,531
Issuance of contingent consideration in connection with acquisition	10,808
Change in fair value of contingent consideration	(2,822)
Time value amortization	381
Payment of contingent consideration	(781)
Effect of foreign currency translation	495
Balance at December 31, 2017	10,612
Issuance of contingent consideration in connection with acquisition	1,728
Change in fair value of contingent consideration	(5,664)
Payment of contingent consideration	(271)
Effect of foreign currency translation	(207)
Balance at December 31, 2018	6,198

Change in fair value of contingent consideration	(2,300)
Payment of contingent consideration	(3,686)
Effect of foreign currency translation	(146)
Balance at December 31, 2019	$	66

Change in Redeemable Noncontrolling Interests

The components of the change in the redeemable noncontrolling interest for the years ended December 31, 2019, 2018 and 2017 are presented in the following table (in thousands):


	Amount






Balance at December 31, 2016	$	45,755
Addition to redeemable noncontrolling interest	277
Net loss attributable to redeemable noncontrolling interest	(4,905)
Adjustment of the redeemable noncontrolling interest to fair value	108,296
Effect of foreign currency translation attributable to redeemable noncontrolling interest	2,555
Balance at December 31, 2017	151,978

Redemption of redeemable noncontrolling interest	(138,835)
Deconsolidation upon sale of redeemable noncontrolling interest	5,535
Net loss attributable to redeemable noncontrolling interest	(4,791)
Adjustment of the redeemable noncontrolling interest to fair value	(7,419)
Effect of foreign currency translation attributable to redeemable noncontrolling interest	(6,468)
Balance at December 31, 2018	—
Balance at December 31, 2019	$	—

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

The carrying amounts in the following table are recorded in the consolidated statements of financial condition at December 31, 2019 and December 31, 2018 (in thousands):


	December 31, 2019						December 31, 2018
	Carrying Amount		Estimated Fair Value		Carrying Amount		Estimated Fair Value
Financial Assets
Investment in receivable portfolios	$	3,283,984	$	3,464,050	$	3,137,893	$	3,525,861
Deferred court costs	100,172		100,172		95,918		95,918
Financial Liabilities
Encore convertible notes and exchangeable notes⁽¹⁾	642,547		693,708		619,639		553,744
Cabot senior secured notes⁽²⁾	1,127,435		1,170,945		1,109,922		1,036,905

________________________

(1)Carrying amount represents the portion of the convertible and exchangeable notes classified as debt, while estimated fair value pertains to the face amount of the notes.

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

Derivatives and Hedging Instruments (Tables)

12 Months Ended

Dec. 31, 2019

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Summary of Fair Value of Derivative Instruments as Recorded on Company's Consolidated Statements of Financial Condition

The following table summarizes the fair value of derivative instruments as recorded in the Company’s consolidated statements of financial condition (in thousands):

December 31, 2019

December 31, 2018

Balance Sheet
Location

Fair Value

Balance Sheet
Location

Fair Value

Derivatives designated as hedging instruments:

Interest rate cap contracts

Other assets

2,460

Other assets

2,023

Foreign currency exchange contracts

Other assets

443

Other liabilities

(237)

Interest rate swap agreements

Other liabilities

(9,116)

Other liabilities

(4,881)

Derivatives not designated as hedging instruments:

Foreign currency exchange contracts

Other assets

1,030

Other assets

—

Summary of Effects of Derivatives in Cash Flow Hedging Relationships in Company's Statements of Income


	Gain (Loss) Recognized in OCI					Location of Gain (Loss) Reclassified from OCI into Income			Gain (Loss) Reclassified from OCI into Income
	2019		2018					2019			2018
Foreign currency exchange contracts	$	1,100	$	(1,253)	Salaries and employee benefits	$	383		$	794
Foreign currency exchange contracts	(56)		(100)		General and administrative expenses	(19)			2
Interest rate swap agreements	(6,347)		(5,228)		Interest expense	(2,560)			(384)
Interest rate cap contracts	(1,752)		(643)		Interest expense	146			—


Derivatives Not Designated as Hedging Instruments	Location of Derivative Gain (Loss) Recognized in Income	Amount of Derivative Gain (Loss) Recognized in Income
				2019		2018		2017
Foreign currency exchange contracts	Other (expense) income	$	(2,959)	$	(9,221)	$	1,755
Interest rate cap contracts	Interest expense	—		(1,568)		2,026
Interest rate swap agreements	Interest expense	—		—		110

Investment in Receivable Portfolios, Net (Tables)

12 Months Ended

Dec. 31, 2019

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):


	Accretable Yield		Estimate of Zero Basis Cash Flows		Total






Balance at December 31, 2017	$	3,695,069	$	369,632	$	4,064,701
Revenue from receivable portfolios	(1,041,947)		(125,185)		(1,167,132)
Allowance reversals on receivable portfolios, net	(32,429)		(9,044)		(41,473)
Net additions on existing portfolios	144,726		18,114		162,840
Additions for current purchases, net	1,155,451		—		1,155,451
Effect of foreign currency translation	(147,699)		(482)		(148,181)
Balance at December 31, 2018	3,773,171		253,035		4,026,206
Revenue from receivable portfolios	(1,185,681)		(83,607)		(1,269,288)
Allowance (allowance reversals) on receivable portfolios, net	16,734		(8,626)		8,108
Additions (reductions) on existing portfolios, net	549,253		(24,289)		524,964
Additions for current purchases, net	1,081,774		—		1,081,774
Effect of foreign currency translation	77,340		(33)		77,307
Balance at December 31, 2019	$	4,312,591	$	136,480	$	4,449,071

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):


	Valuation Allowance








Balance at December 31, 2017	$	102,576
Provision for portfolio allowances	14,421
Reversal of prior allowances	(55,894)
Effect of foreign currency translation	(472)
Balance at December 31, 2018	60,631
Provision for portfolio allowances	36,806
Reversal of prior allowances	(28,698)
Baycorp Transaction	(1,036)
Effect of foreign currency translation	1,776
Balance at December 31, 2019	$	69,479

Deferred Court Costs, Net (Tables)

12 Months Ended

Dec. 31, 2019

Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]

Schedule of Deferred Court Costs

Deferred Court Costs for the deferral period consist of the following as of the dates presented (in thousands):


	December 31, 2019		December 31, 2018
Court costs advanced	$	891,207	$	828,713
Court costs recovered	(369,043)		(336,335)
Court costs reserve	(421,992)		(396,460)
Deferred court costs	$	100,172	$	95,918

Schedule of Court Cost Reserve

A roll forward of the Company’s court cost reserve is as follows (in thousands):


	December 31, 2019		December 31, 2018		December 31, 2017
Balance at beginning of period	$	(396,460)	$	(364,015)	$	(327,926)
Provision for court costs	(82,987)		(90,026)		(82,702)
Charge-offs	60,618		53,383		50,743
Effect of foreign currency translation	(3,163)		4,198		(4,130)
Balance at end of period	$	(421,992)	$	(396,460)	$	(364,015)

Property and Equipment, Net (Tables)

12 Months Ended

Dec. 31, 2019

Property, Plant and Equipment [Abstract]

Property and Equipment

Property and equipment consist of the following, as of the dates presented (in thousands):


	December 31, 2019		December 31, 2018
Computer equipment and software	$	136,426	$	156,769
Leasehold improvements	37,245		28,775
Furniture, fixtures and equipment	10,428		17,335
Telecommunications equipment and other	3,893		1,866
Construction in process	2,089		25,839
	190,081		230,584
Less: accumulated depreciation and amortization	(70,030)		(115,066)
	$	120,051	$	115,518

Other Assets (Tables)

12 Months Ended

Dec. 31, 2019

Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]

Components of Other Assets

Other assets consist of the following (in thousands):


	December 31, 2019		December 31, 2018
Operating lease right-of-use assets	$	75,254	$	—
Identifiable intangible assets, net	51,371		60,581
Assets held for sale	46,717		26,664
Service fee receivables	27,705		28,035
Deferred tax assets	24,134		24,910
Prepaid expenses	22,272		24,989
Other financial receivables	17,308		47,363




Other	64,462		44,460
Total	$	329,223	$	257,002

Borrowings (Tables)

12 Months Ended

Dec. 31, 2019

Debt Disclosure [Abstract]

Schedule of Obligation Under Borrowings

The components of the Company’s consolidated borrowings were as follows (in thousands):


	December 31, 2019		December 31, 2018
Encore revolving credit facility	$	492,000	$	429,000
Encore term loan facility	171,677		195,056
Encore senior secured notes	308,750		325,000
Encore convertible notes and exchangeable notes	672,855		656,000
Less: debt discount	(30,308)		(36,361)
Cabot senior secured notes	1,129,039		1,111,399

Less: debt discount	(1,604)		(1,477)
Cabot senior revolving credit facility	285,749		298,005
Cabot securitisation senior facility	464,092		445,837
Other	54,151		107,920
Finance lease liabilities	8,121		7,563
	3,554,522		3,537,942
Less: debt issuance costs, net of amortization	(41,325)		(47,309)
Total	$	3,513,197	$	3,490,633

The following table provides a summary of the principal balance, maturity date and interest rate for the outstanding convertible and exchangeable senior notes ($ in thousands):


	December 31, 2019		December 31, 2018		Maturity Date	Interest Rate
2020 Convertible Notes	$	89,355	$	172,500	Jul 1, 2020	3.000	%
2021 Convertible Notes	161,000		161,000		Mar 15, 2021	2.875	%
2022 Convertible Notes	150,000		150,000		Mar 15, 2022	3.250	%
Exchangeable Notes	172,500		172,500		Sep 1, 2023	4.500	%
2025 Convertible Notes	100,000		—		Oct 1, 2025	3.250	%
	$	672,855	$	656,000

The following table provides a summary of the Cabot senior secured notes ($ in thousands):


	December 31, 2019		December 31, 2018		Maturity Date	Interest Rate
Floating rate senior secured notes due 2024	$	448,921	$	—	Jun 1, 2024	EURIBOR +6.375%
Floating rate senior secured notes due 2021	—		356,067		Nov 15, 2021	EURIBOR +5.875%
Senior secured notes due 2023	680,118		653,355		Oct 1, 2023	7.500	%
Senior secured notes due 2021	—		101,977		Apr 1, 2021	6.500	%
	$	1,129,039	$	1,111,399

Convertible Debt, Features and Hedging

Certain key terms related to the convertible and exchangeable features as of December 31, 2019 are listed below:


	2020 Convertible Notes		2021 Convertible Notes		2022 Convertible Notes		2023 Exchangeable Notes		2025 Convertible Notes
Initial conversion or exchange price	$	45.72	$	59.39	$	45.57	$	44.62	$	40.00
Closing stock price at date of issuance	$	33.35	$	47.51	$	35.05	$	36.45	$	32.00
Closing stock price date	Jun 24, 2013		Mar 5, 2014		Feb 27, 2017		Jul 20, 2018		Sep 4, 2019
Conversion or exchange rate (shares per $1,000 principal amount)	21.8718		16.8386		21.9467		22.4090		25.0000
Conversion or exchange date	Jan 1, 2020		Sep 15, 2020		Sep 15, 2021		Mar 1, 2023		Jul 1, 2025

The details of the hedge program are listed below (in thousands, except conversion or exchange price):


	2020 Convertible Notes		2021 Convertible Notes		2023 Exchangeable Notes
Cost of the hedge transaction(s)	$	18,113	$	19,545	$	17,785
Initial conversion or exchange price	$	45.72	$	59.39	$	44.62
Effective conversion or exchange price	$	61.55	$	83.14	$	62.48

Balances of the Liability and Equity Components


	2020 Convertible Notes⁽¹⁾			2021 Convertible Notes			2022 Convertible Notes			2023 Exchangeable Notes			2025 Convertible Notes
Debt component	$	140,247		$	143,645		$	137,266		$	157,971		$	91,024
Equity component	$	32,253		$	17,355		$	12,734		$	14,009		$	8,976
Equity issuance cost	$	1,106		$	581		$	398		$	—		$	224
Stated interest rate	3.000		%	2.875		%	3.250		%	4.500		%	3.250		%
Effective interest rate	6.350		%	4.700		%	5.200		%	6.500		%	5.000		%

________________________

The balances of the liability and equity components of all the Convertible Notes and Exchangeable Notes outstanding were as follows (in thousands):


	December 31, 2019		December 31, 2018
Liability component—principal amount	$	672,855	$	656,000
Unamortized debt discount	(30,308)		(36,361)
Liability component—net carrying amount	$	642,547	$	619,639
Equity component	$	83,127	$	76,351

Interest Expense

Interest expense related to the Convertible Notes and Exchangeable Notes was as follows (in thousands):


	Year ended December 31,
	2019		2018
Interest expense—stated coupon rate	$	23,845	$	17,518
Interest expense—amortization of debt discount	12,780		10,888
Interest expense—Convertible Notes and Exchangeable Notes	$	36,625	$	28,406

Interest expense related to the Cabot senior secured notes was as follows (in thousands):


	Year ended December 31,
	2019		2018
Interest expense—stated coupon rate	$	76,897	$	84,772

Interest expense—amortization of debt discount	532		343
Interest expense—Cabot senior secured notes	$	77,429	$	85,115

Summary of Debt Including Capital Lease Obligations Maturities

The aggregate amounts of the Company’s borrowings, maturing in each of the next five years and thereafter are as follows (in thousands):


2020	$	197,041
2021	900,114
2022	221,768
2023	1,669,840
2024	497,671
Thereafter	100,000
Total	$	3,586,434

Stock-Based Compensation (Tables)

12 Months Ended

Dec. 31, 2019

Share-based Payment Arrangement [Abstract]

Summary of Stock Option Activity

A summary of the Company’s stock option activity as of December 31, 2019, and changes during the year then ended, are presented below:


	Number of Shares	Weighted Average Exercise Price		Weighted Average Remaining Contractual Term (in years)	Aggregate Intrinsic Value (in thousands)
Outstanding at December 31, 2018	55,766	$	15.21


Exercised	(46,600)	13.84

Outstanding at December 31, 2019	9,166	$	22.17	2.26	$	121
Exercisable as of December 31, 2019	9,166	$	22.17	2.26	$	121

A summary of the Company’s performance stock option activity as of December 31, 2019, and changes during the year then ended, are presented below:


	Number of Shares	Weighted Average Exercise Price		Weighted Average Remaining Contractual Term (in years)	Aggregate Intrinsic Value (in thousands)
Outstanding at December 31, 2018	216,582	$	31.54


Exercised	(10,952)	30.95
Cancelled/forfeited	(13,872)	30.95
Expired	(27,745)	30.95
Outstanding at December 31, 2019	164,013	$	31.73	4.21	$	665
Vested and expected to vest as of December 31, 2019	163,024	$	31.73	4.21	$	660
Exercisable as of December 31, 2019	105,696	$	31.75	4.21	$	427

Summary of Restricted Stock Units

A summary of the status of the Company’s stock awards as of December 31, 2019, and changes during the year then ended, is presented below:


	Non-Vested Shares ⁽¹⁾	Weighted Average Grant Date Fair Value
Non-vested at December 31, 2018	859,932	$	34.43
Awarded	569,872	$	32.42
Vested	(267,157)	$	35.32
Cancelled	(240,117)	$	32.00
Non-vested at December 31, 2019	922,530	$	33.11

________________________

Income Taxes (Tables)

12 Months Ended

Dec. 31, 2019

Income Tax Disclosure [Abstract]

Components of Pretax Income

Income before provision for income taxes consisted of the following (in thousands):


	Year Ended December 31,
	2019		2018		2017
US	$	144,495	$	61,972	$	71,794
Foreign	56,747		94,516		59,432
Total income before provision for income taxes	$	201,242	$	156,488	$	131,226

Components of Provision for Income Taxes

The income tax provision on earnings from continuing operations consisted of the following (in thousands):


	Year Ended December 31,
	2019		2018		2017
Current expense (benefit):
Federal	$	(2,917)	$	23,254	$	9,969
State	(6,464)		2,983		(794)
Foreign	21,008		29,532		15,690
	11,627		55,769		24,865
Deferred expense (benefit):
Federal	27,640		(10,447)		16,563
State	5,535		(2,169)		784
Foreign	(12,469)		3,599		9,837
	20,706		(9,017)		27,184
Provision for income taxes	$	32,333	$	46,752	$	52,049

Schedule of Effective Tax Rates


	Year Ended December 31,
	2019		2018		2017
Federal provision	21.0	%	21.0	%	35.0	%
State provision	0.2	%	0.1	%	0.5	%
Foreign rate differential⁽¹⁾	(2.2)	%	(11.7)	%	(20.0)	%
Transaction costs⁽²⁾	0.0	%	1.0	%	5.0	%

Permanent items⁽³⁾	0.0	%	1.1	%	10.2	%

Change in valuation allowance⁽⁴⁾	(0.5)	%	17.7	%	8.2	%
IRS settlement⁽⁵⁾	(2.4)	%	—	%	—	%
Other	0.0	%	0.7	%	0.8 %
Effective rate	16.1	%	29.9	%	39.7	%

________________________

(1)Relates primarily to the lower tax rates on the income or loss attributable to international operations.

(2)In 2018, relates primarily to transaction costs incurred in connection with the Cabot Transaction. In 2017, relates primarily to certain withdrawn IPO costs disallowed for U.K. tax purposes.

(5)In 2019, includes tax benefit resulting from tax accounting method change.

Components of Deferred Tax Assets and Liabilities

Significant components of the Company's deferred tax assets and liabilities were as follows (in thousands):


	December 31, 2019		December 31, 2018
Deferred tax assets:
Net operating losses	$	36,236	$	42,013
Financing obligation	18,023		—
Accrued expenses	10,050		17,715
Difference in basis of bond and loan costs	4,194		3,728
Stock-based compensation	2,882		2,796
State taxes	1		174
Differences in income recognition related to receivable portfolios	—		13,857
Prepaid expenses	—		2,949
Other	1,821		4,825
Total deferred tax assets	73,207		88,057
Valuation allowance	(36,422)		(46,516)
Total deferred tax assets net of valuation allowance	36,785		41,541
Deferred tax liabilities:
Deferred court costs	(23,682)		(23,484)
Right-of-use asset	(14,422)		—
Difference in basis of depreciable and amortizable assets	(3,680)		(1,937)
Prepaid expenses	(628)		—
Other	(4,616)		(3,403)
Total deferred tax liabilities	(47,028)		(28,824)
Net deferred tax (liability) asset⁽¹⁾	$	(10,243)	$	12,717

________________________

Unrecognized Tax Benefit

A reconciliation of the beginning and ending amounts of unrecognized tax benefit is as follows (in thousands):


	Amount





Balance at December 31, 2016	$	18,945
Increases related to current year tax positions	5,902
Decreases related to current year tax positions	(4,599)
Decreases related to settlements with taxing authorities	(228)
Balance at December 31, 2017	20,020


Increases related to prior year tax positions	256
Increases related to current year tax positions	1,958
Decrease related to expiration of statute of limitations	(3,221)
Decreases related to settlements with taxing authorities	(461)
Balance at December 31, 2018	18,552
Decreases related to prior year tax positions	(10,673)
Increases related to current year tax positions	4,442
Decrease related to expiration of statute of limitations	(2,493)
Decreases related to settlements with taxing authorities	(1,920)
Balance at December 31, 2019	$	7,908

Leases (Tables)

12 Months Ended

Dec. 31, 2019

Leases [Abstract]

Lease cost

The components of lease expense for the year ended December 31, 2019 were as follows (in thousands):


	Year Ended December 31, 2019
Operating lease costs⁽¹⁾	$	19,450
Finance lease costs
Amortization of right-of-use assets	1,825
Interest on lease liabilities	563
Total lease costs	$	21,838

________________________

Supplemental lease information is summarized below (in thousands, except rate and lease term):


	Year Ended December 31, 2019
Right-of-use assets obtained in exchange for new operating lease obligations	$	123,477
Right-of-use assets obtained in exchange for new finance lease obligations	5,299
Cash paid for amounts included in the measurement of lease liabilities
Operating leases - operating cash flows	14,874
Finance leases - operating cash flows	295
Finance leases - financing cash flows	1,898

Supplemental balance sheet information

The following table provides supplemental consolidated statement of financial condition information related to leases as of December 31, 2019 (in thousands):


	Classification	December 31, 2019
Assets
Operating lease right-of-use assets	Other assets	$	75,254
Finance lease right-of-use assets	Property and equipment, net	9,133
Total lease right-of-use assets		$	84,387

Liabilities
Operating lease liabilities	Other liabilities	$	93,847
Finance lease liabilities	Borrowings	8,121
Total lease liabilities		$	101,968


	December 31, 2019
Weighted-average remaining lease term
Operating leases	8.1 years
Finance leases	3.1 years
Weighted-average discount rate
Operating leases⁽¹⁾	5.3	%
Finance leases	4.7	%

________________________

(1)Upon adoption of the new lease standard, discount rates used for existing operating leases were established at January 1, 2019.

Lease maturities

Minimum future payments on noncancelable leases as of December 31, 2019 are summarized as follows (in thousands):


	Finance Leases		Operating Leases		Total
2020	$	2,898	$	17,898	$	20,796
2021	2,736		16,845		19,581
2022	2,509		13,726		16,235
2023	597		12,534		13,131
2024	—		12,275		12,275
Thereafter	—		41,497		41,497
Total undiscounted lease payments	8,740		114,775		123,515
Less: imputed interest	(619)		(20,928)		(21,547)
Lease obligations	$	8,121	$	93,847	$	101,968

Lease maturities

Minimum future payments on noncancelable leases as of December 31, 2019 are summarized as follows (in thousands):


	Finance Leases		Operating Leases		Total
2020	$	2,898	$	17,898	$	20,796
2021	2,736		16,845		19,581
2022	2,509		13,726		16,235
2023	597		12,534		13,131
2024	—		12,275		12,275
Thereafter	—		41,497		41,497
Total undiscounted lease payments	8,740		114,775		123,515
Less: imputed interest	(619)		(20,928)		(21,547)
Lease obligations	$	8,121	$	93,847	$	101,968

Future minimum lease payments for operating leases


	Finance Leases		Operating Leases		Total
2019	$	2,507	$	16,538	$	19,045
2020	1,983		13,850		15,833
2021	1,844		13,044		14,888
2022	1,630		11,737		13,367
2023	204		9,741		9,945
Thereafter	—		37,997		37,997
Total minimal leases payments	8,168		$	102,907	$	111,075
Less: interest	(605)
Present value of minimal lease payments	$	7,563

Future minimum lease payments for capital leases


	Finance Leases		Operating Leases		Total
2019	$	2,507	$	16,538	$	19,045
2020	1,983		13,850		15,833
2021	1,844		13,044		14,888
2022	1,630		11,737		13,367
2023	204		9,741		9,945
Thereafter	—		37,997		37,997
Total minimal leases payments	8,168		$	102,907	$	111,075
Less: interest	(605)
Present value of minimal lease payments	$	7,563

Segment Information (Tables)

12 Months Ended

Dec. 31, 2019

Segment Reporting [Abstract]

Schedule of Geographical Areas of Which Company Operates

The following tables present information about geographic areas in which the Company operates (in thousands):


	Year Ended December 31,
	2019		2018		2017
Total revenues, adjusted by net allowances⁽¹⁾:
United States	$	817,693	$	709,493	$	665,564
International
Europe⁽²⁾	520,433		556,265		427,655
Other geographies	59,555		96,272		93,819
Total	$	1,397,681	$	1,362,030	$	1,187,038

________________________

(1)Revenues are attributed to countries based on consumer location.

(2)Based on the financial information that is used to produce the general-purpose financial statements, providing further geographic information is impracticable.

Schedule of Long-lived Assets by Geographic Areas


	December 31, 2019		December 31, 2018
Long-lived assets⁽¹⁾:
United States	$	84,118	$	76,791
International
United Kingdom	28,602		27,454
Other foreign countries	7,331		11,273
	35,933		38,727
Total	$	120,051	$	115,518

________________________

(1)Long-lived assets consist of property and equipment, net and finance leases.

Goodwill and Identifiable Intangible Assets (Tables)

12 Months Ended

Dec. 31, 2019

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Goodwill

The following table summarizes the activity in the Company’s goodwill balance, as follows (in thousands):


	2019		2018
Balance at beginning of period:	$	868,126	$	928,993

Goodwill adjustment	—		(2,213)
Goodwill eliminated in connection with divestiture	—		(13,347)
Goodwill impairment	(10,718)		—
Effect of foreign currency translation	26,777		(45,307)
Balance at end of period:	$	884,185	$	868,126

Summary of Acquired Intangible Assets

The Company’s acquired intangible assets are summarized as follows (in thousands):


	As of December 31, 2019										As of December 31, 2018
	Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount		Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount
Customer relationships	$	67,897	$	(18,191)	$	49,706	$	73,458	$	(17,025)	$	56,433
Developed technologies	4,734		(4,124)		610		7,461		(6,446)		1,015
Trade name and other	6,299		(5,244)		1,055		8,346		(5,213)		3,133

Total intangible assets	$	78,930	$	(27,559)	$	51,371	$	89,265	$	(28,684)	$	60,581

Weighted-Average Useful Lives of Intangible Assets

The weighted-average useful lives of intangible assets at the time of acquisition were as follows (in years):


			Weighted-Average Useful Lives
Customer relationships			10
Developed technologies			5
Trade name and other			7

Estimated Future Amortization Expense

Estimated future amortization expense related to finite-lived intangible assets at December 31, 2019 is as follows (in thousands):


2020	$	7,304
2021	7,168
2022	6,573
2023	6,187
2024	6,094
Thereafter	18,045
Total	$	51,371

Quarterly Information (Unaudited) (Tables)

12 Months Ended

Dec. 31, 2019

Quarterly Financial Information Disclosure [Abstract]

Summary of Quarterly Financial Data

The following table summarizes quarterly financial data for the periods presented (in thousands, except per share amounts):


	Three Months Ended
	March 31		June 30		September 30		December 31
2019
Gross collections	$	513,853	$	514,881	$	499,395	$	498,799
Total revenues, adjusted by net allowances	347,077		346,874		355,936		347,794
Total operating expenses	236,019		233,142		247,591		234,584
Income from continuing operations	49,442		36,822		39,413		43,232
Net income	49,442		36,822		39,413		43,232
Amounts attributable to Encore Capital Group, Inc.:
Income from continuing operations	49,254		36,661		38,869		43,085
Net income attributable to Encore Capital Group, Inc. stockholders	49,254		36,661		38,869		43,085
Earnings per share attributable to Encore Capital Group, Inc.:
Basic earnings per share	$	1.58	$	1.17	$	1.24	$	1.38
Diluted earnings per share	1.57		1.17		1.23		1.36

2018
Gross collections	$	489,102	$	496,093	$	498,843	$	483,582
Total revenues, adjusted by net allowances	326,788		349,747		336,774		348,721
Total operating expenses	238,336		246,314		239,246		232,834
Income from continuing operations	23,713		26,974		13,016		46,033
Net income	23,713		26,974		13,016		46,033
Amounts attributable to Encore Capital Group, Inc.:
Income from continuing operations	21,827		26,298		20,725		47,036
Net income attributable to Encore Capital Group, Inc. stockholders	21,827		26,298		20,725		47,036
Earnings per share attributable to Encore Capital Group, Inc.:
Basic earnings per share	$	0.84	$	1.01	$	0.69	$	1.51
Diluted earnings per share	0.83		1.00		0.69		1.50

Ownership, Description of Business, and Summary of Significant Accounting Policies - Additional Information (Detail) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017	Jan. 01, 2020
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Restricted cash	$ 25,000	$ 21,800
Anti-dilutive employee stock options outstanding (in shares)	64	66	107
Decrease to retained earnings	$ (888,058)	$ (720,189)
Minimum \| Accounting Standards Update 2016-13 \| Subsequent Event
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Decrease to retained earnings				$ 40,000
Maximum \| Accounting Standards Update 2016-13 \| Subsequent Event
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Decrease to retained earnings				$ 50,000
2020 Convertible Senior Notes
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Convertible/exchangeable debt	$ 89,400
Initial conversion price (in dollars per share)	$ 45.72
2020 Convertible Senior Notes \| Adjusted Debt Conversion Rate Following Hedge Transactions
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Initial conversion price (in dollars per share)	$ 61.55
2021 Convertible Senior Notes
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Convertible/exchangeable debt	$ 161,000
Initial conversion price (in dollars per share)	$ 59.39
2021 Convertible Senior Notes \| Adjusted Debt Conversion Rate Following Hedge Transactions
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Initial conversion price (in dollars per share)	$ 83.14
2022 Convertible Senior Notes
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Convertible/exchangeable debt	$ 150,000
Initial conversion price (in dollars per share)	$ 45.57
Exchange Notes Due 2023
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Convertible/exchangeable debt	$ 172,500
Initial conversion price (in dollars per share)	$ 44.62
Exchange Notes Due 2025
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Convertible/exchangeable debt	$ 100,000
Initial conversion price (in dollars per share)	$ 40.00
Exchange Notes \| Adjusted Debt Conversion Rate Following Hedge Transactions
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Initial conversion price (in dollars per share)	$ 62.48

Ownership, Description of Business, and Summary of Significant Accounting Policies - Estimated Useful Lives of Property and Equipment (Detail)	12 Months Ended
	Dec. 31, 2019
Furniture, fixtures and equipment \| Minimum
Property, Plant and Equipment [Line Items]
Estimated useful life	5 years
Furniture, fixtures and equipment \| Maximum
Property, Plant and Equipment [Line Items]
Estimated useful life	10 years
Computer hardware and software \| Minimum
Property, Plant and Equipment [Line Items]
Estimated useful life	3 years
Computer hardware and software \| Maximum
Property, Plant and Equipment [Line Items]
Estimated useful life	5 years

Ownership, Description of Business, and Summary of Significant Accounting Policies - Reconciliation of Shares Used in Calculating Earnings Per Basic and Diluted Shares (Detail) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Accounting Policies [Abstract]
Income from continuing operations	$ 43,085	$ 38,869	$ 36,661	$ 49,254	$ 47,036	$ 20,725	$ 26,298	$ 21,827	$ 167,869	$ 115,886	$ 83,427
Loss from discontinued operations, net of tax									0	0	(199)
Net income attributable to Encore Capital Group, Inc. stockholders	$ 43,085	$ 38,869	$ 36,661	$ 49,254	$ 47,036	$ 20,725	$ 26,298	$ 21,827	$ 167,869	$ 115,886	$ 83,228
Weighted average common shares outstanding-basic (in shares)									31,210	28,313	25,972
Dilutive effect of stock-based awards (in shares)									264	259	255
Dilutive effect of convertible and exchangeable senior notes (in shares)									0	0	178
Weighted average common shares outstanding-diluted (in shares)									31,474	28,572	26,405
Earnings per share
Basic (USD per share)									$ 5.38	$ 4.09	$ 3.21
Discontinued operations (USD per share)									0	0	(0.01)
Net basic earnings per share (USD per share)	$ 1.38	$ 1.24	$ 1.17	$ 1.58	$ 1.51	$ 0.69	$ 1.01	$ 0.84	5.38	4.09	3.20
Continuing operations (USD per share)									5.33	4.06	3.16
Discontinued operations (USD per share)									0	0	(0.01)
Net diluted earnings per share (USD per share)	$ 1.36	$ 1.23	$ 1.17	$ 1.57	$ 1.50	$ 0.69	$ 1.00	$ 0.83	$ 5.33	$ 4.06	$ 3.15

Fair Value Measurements - Summary of Financial Assets and Liabilities Measured at Fair Value on Recurring Basis (Detail) - Recurring - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Liabilities
Contingent consideration	$ (66)	$ (6,198)
Level 1
Liabilities
Contingent consideration	0	0
Level 2
Liabilities
Contingent consideration	0	0
Level 3
Liabilities
Contingent consideration	(66)	(6,198)
Foreign currency exchange contracts
Assets
Foreign currency exchange contracts	1,473
Liabilities
Foreign currency exchange contracts		(237)
Foreign currency exchange contracts \| Level 1
Assets
Foreign currency exchange contracts	0
Liabilities
Foreign currency exchange contracts		0
Foreign currency exchange contracts \| Level 2
Assets
Foreign currency exchange contracts	1,473
Liabilities
Foreign currency exchange contracts		(237)
Foreign currency exchange contracts \| Level 3
Assets
Foreign currency exchange contracts	0
Liabilities
Foreign currency exchange contracts		0
Interest rate cap contracts
Assets
Interest rate cap contracts	2,460	2,023
Interest rate cap contracts \| Level 1
Assets
Interest rate cap contracts	0	0
Interest rate cap contracts \| Level 2
Assets
Interest rate cap contracts	2,460	2,023
Interest rate cap contracts \| Level 3
Assets
Interest rate cap contracts	0	0
Interest rate swap agreements
Liabilities
Interest rate swap agreements	(9,116)	(4,881)
Interest rate swap agreements \| Level 1
Liabilities
Interest rate swap agreements	0	0
Interest rate swap agreements \| Level 2
Liabilities
Interest rate swap agreements	(9,116)	(4,881)
Interest rate swap agreements \| Level 3
Liabilities
Interest rate swap agreements	$ 0	$ 0

Fair Value Measurements - Schedule of Contingent Consideration Roll Forward (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Time value amortization			$ 381
Contingent Consideration
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning of period	$ 6,198	$ 10,612	2,531
Issuance of contingent consideration in connection with acquisition		1,728	10,808
Change in fair value of contingent consideration	(2,300)	(5,664)	(2,822)
Payment of contingent consideration	(3,686)	(271)	(781)
Effect of foreign currency translation	(146)	(207)	495
End of period	$ 66	$ 6,198	$ 10,612

Fair Value Measurements - Change in Redeemable Noncontrolling Interests (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Change in Redeemable Noncontrolling Interests [Roll Forward]
Balance, beginning of period	$ 151,978	$ 45,755
Addition to redeemable noncontrolling interest		277
Redemption of redeemable noncontrolling interest	(138,835)
Net loss attributable to redeemable noncontrolling interest	(4,791)	(4,905)
Adjustment of the redeemable noncontrolling interest to fair value	(7,419)	108,296
Effect of foreign currency translation attributable to redeemable noncontrolling interest	(6,468)	2,555
Deconsolidation upon sale of redeemable noncontrolling interest	5,535
Balance, end of period	$ 0	$ 151,978

Fair Value Measurements - Narrative (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets held for sale	$ 46,717	$ 26,664
Investment in receivable portfolios, carrying amount	$ 3,283,984	3,137,893	$ 2,890,613	$ 2,382,809
Fluctuation in discount rate (basis points)	1.00%
Deferred court costs, net	$ 100,172	95,918
Unamortized debt discount	30,308	36,361
Senior notes, carrying value	308,750	325,000
United States
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Decrease of the fair value	65,600
Europe
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Decrease of the fair value	77,300
Senior Notes
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Convertible and exchangeable senior notes, carrying value	642,547	619,639
Secured Debt
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Senior notes, carrying value	1,129,039	1,111,399
Level 2 \| Senior Notes
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value estimate of convertible senior notes incorporates quoted market prices	693,708	553,744
Cabot senior secured notes \| Senior Notes
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Senior notes, carrying value	1,129,039
Cabot senior secured notes \| Secured Debt
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Senior notes, carrying value	1,127,435	1,109,922
Cabot senior secured notes \| Level 2 \| Secured Debt
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Senior notes, estimated fair value	1,170,945	1,036,905
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investment in receivable portfolios, carrying amount	3,283,984	3,137,893
Fair Value \| Certain Loans Acquired in Transfer Not Accounted for as Debt Securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investment in receivable portfolios, estimated fair value	$ 3,464,050	$ 3,525,861

Fair Value Measurements - Schedule of Financial Instruments Not Required to Be Carried at Fair Value (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Investment in receivable portfolios, carrying amount	$ 3,283,984	$ 3,137,893	$ 2,890,613	$ 2,382,809
Deferred court costs	100,172	95,918
Senior notes, carrying value	308,750	325,000
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Investment in receivable portfolios, carrying amount	3,283,984	3,137,893
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities \| Fair Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Investment in receivable portfolios, estimated fair value	3,464,050	3,525,861
Senior Notes
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Convertible and exchangeable senior notes, carrying value	642,547	619,639
Secured Debt
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Senior notes, carrying value	1,129,039	1,111,399
Level 2 \| Senior Notes
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Convertible and exchangeable senior notes, estimated fair value	693,708	553,744
Cabot senior secured notes \| Senior Notes
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Senior notes, carrying value	1,129,039
Cabot senior secured notes \| Secured Debt
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Senior notes, carrying value	1,127,435	1,109,922
Cabot senior secured notes \| Level 2 \| Secured Debt
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Senior notes, estimated fair value	$ 1,170,945	$ 1,036,905

Derivatives and Hedging Instruments - Summary of Fair Value of Derivative Instruments as Recorded in Company's Consolidated Statements of Financial Condition (Detail) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Designated as Hedging Instrument \| Other assets \| Interest rate cap contracts
Derivative [Line Items]
Interest rate cap contracts	$ 2,460	$ 2,023
Designated as Hedging Instrument \| Other assets \| Foreign currency exchange contracts
Derivative [Line Items]
Foreign currency exchange contracts	443
Designated as Hedging Instrument \| Other liabilities \| Foreign currency exchange contracts
Derivative [Line Items]
Foreign currency exchange contracts		(237)
Designated as Hedging Instrument \| Other liabilities \| Interest rate swap agreements
Derivative [Line Items]
Interest rate swap agreements	(9,116)	(4,881)
Not Designated as Hedging Instruments \| Other assets \| Foreign currency exchange contracts
Derivative [Line Items]
Foreign currency exchange contracts	$ 1,030	$ 0

Derivatives and Hedging Instruments - Additional Information (Detail) € in Millions, £ in Millions		12 Months Ended
	Aug. 03, 2018 USD ($)	Dec. 31, 2019 USD ($) instrument	Dec. 31, 2018 USD ($)	Dec. 31, 2017 USD ($)	Dec. 31, 2019 GBP (£) instrument	Dec. 31, 2019 EUR (€) instrument	May 08, 2018 GBP (£)
Cash Flow Hedges \| Foreign currency exchange contracts
Derivative [Line Items]
Derivative notional amount		$ 13,800,000
Net derivative gain (loss) included in OCI to be reclassified into earnings		400,000
Derivative gain (loss) reclassified from OCI into earnings as a result of forecasted transactions		0	$ 0	$ 0
Cash Flow Hedges \| Interest rate swap agreements
Derivative [Line Items]
Derivative notional amount		$ 331,700,000
Number of interest rate cap contracts \| instrument		4			4	4
Cash Flow Hedges \| Interest rate cap contracts
Derivative [Line Items]
Derivative notional amount		$ 913,000,000.0
Number of interest rate cap contracts \| instrument		3			3	3
Not Designated as Hedging Instruments \| Foreign currency exchange contracts
Derivative [Line Items]
Derivative notional amount \| £							£ 176.0
Loss on forward contract settlement	$ 9,300,000
Minimum \| Not Designated as Hedging Instruments \| Cash Flow Hedges
Derivative [Line Items]
Derivative term of contract		1 month
Maximum \| Not Designated as Hedging Instruments \| Cash Flow Hedges
Derivative [Line Items]
Derivative term of contract		3 months
2018 Caps \| Cash Flow Hedges \| Interest rate cap contracts
Derivative [Line Items]
Derivative notional amount		$ 464,100,000			£ 350.0
2019 Cap \| Cash Flow Hedges \| Interest rate cap contracts
Derivative [Line Items]
Derivative notional amount		$ 448,900,000				€ 400.0

Derivatives and Hedging Instruments - Summary of Effects of Derivatives on Cash Flow Hedging Relationships in Company's Statements of Income, Derivatives Designated as Hedging Instruments (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Derivative [Line Items]
Gain (Loss) Recognized in OCI		$ (7,658)	$ 1,242
Cash Flow Hedges \| Foreign currency exchange contracts
Derivative [Line Items]
Gain (Loss) Recognized in OCI	$ 1,100
Gain (Loss) Recognized in OCI		(1,253)
Cash Flow Hedges \| Foreign currency exchange contracts \| Salaries and employee benefits
Derivative [Line Items]
Gain (Loss) Reclassified from OCI into Income	383
Gain (Loss) Reclassified from OCI into Income		794
Cash Flow Hedges \| Foreign currency exchange contracts
Derivative [Line Items]
Gain (Loss) Recognized in OCI	(56)
Gain (Loss) Recognized in OCI		(100)
Cash Flow Hedges \| Foreign currency exchange contracts \| General and administrative expenses
Derivative [Line Items]
Gain (Loss) Reclassified from OCI into Income	(19)
Gain (Loss) Reclassified from OCI into Income		2
Cash Flow Hedges \| Interest rate swap agreements
Derivative [Line Items]
Gain (Loss) Recognized in OCI	(6,347)
Gain (Loss) Recognized in OCI		(5,228)
Cash Flow Hedges \| Interest rate swap agreements \| Interest expense
Derivative [Line Items]
Gain (Loss) Reclassified from OCI into Income	(2,560)
Gain (Loss) Reclassified from OCI into Income		(384)
Cash Flow Hedges \| Interest rate cap contracts
Derivative [Line Items]
Gain (Loss) Recognized in OCI	(1,752)
Gain (Loss) Recognized in OCI		(643)
Cash Flow Hedges \| Interest rate cap contracts \| Interest expense
Derivative [Line Items]
Gain (Loss) Reclassified from OCI into Income	$ 146
Gain (Loss) Reclassified from OCI into Income		$ 0

Derivatives and Hedging Instruments Derivatives and Hedging Instruments - Summary of Effects of Derivatives on Cash Flow Hedging Relationships in Company's Statements of Income, Derivatives Not Designated as Hedging Instruments (Details) - Not Designated as Hedging Instruments - Cash Flow Hedges - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Other (expense) income \| Foreign currency exchange contracts
Derivative [Line Items]
Amount of Derivative Gain (Loss) Recognized in Income	$ (2,959)	$ (9,221)	$ 1,755
Interest expense \| Interest rate cap contracts
Derivative [Line Items]
Amount of Derivative Gain (Loss) Recognized in Income	0	(1,568)	2,026
Interest expense \| Interest rate swap agreements
Derivative [Line Items]
Amount of Derivative Gain (Loss) Recognized in Income	$ 0	$ 0	$ 110

Investment in Receivable Portfolios, Net - Additional Information (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Receivables [Abstract]
Face value of receivable portfolios	$ 11,600,000	$ 8,500,000
Purchase price of receivable portfolios	$ 1,046,696	$ 1,131,898	$ 1,058,235
Purchase cost as a percentage of face value	8.60%	13.30%
Estimated future collections at acquisition for receivable portfolios	$ 2,100,000	$ 2,300,000
Zero basis revenue	$ (83,600)	$ 125,200	$ 144,100

Investment in Receivable Portfolios, Net - Summary of Accretable Yield and an Estimate of Zero Basis Future Cash Flows (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Accretable Yield and Estimate of Zero Basis Future Cash Flows Movement Schedule [Roll Forward]
Beginning balance	$ 4,026,206	$ 4,064,701
Revenue from receivable portfolios	(1,269,288)	(1,167,132)	$ (1,053,373)
Provision for (reversal of) allowances on receivable portfolios, net	8,108	(41,473)	(41,236)
Net additions on existing portfolios	524,964	162,840
Additions for current purchases, net	1,081,774	1,155,451
Effect of foreign currency translation	77,307	(148,181)
Ending balance	4,449,071	4,026,206	4,064,701
Accretable Yield
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Accretable Yield and Estimate of Zero Basis Future Cash Flows Movement Schedule [Roll Forward]
Beginning balance	3,773,171	3,695,069
Revenue from receivable portfolios	(1,185,681)	(1,041,947)
Provision for (reversal of) allowances on receivable portfolios, net	16,734	(32,429)
Net additions on existing portfolios	549,253	144,726
Additions for current purchases, net	1,081,774	1,155,451
Effect of foreign currency translation	77,340	(147,699)
Ending balance	4,312,591	3,773,171	3,695,069
Estimate of Zero Basis Cash Flows
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Accretable Yield and Estimate of Zero Basis Future Cash Flows Movement Schedule [Roll Forward]
Beginning balance	253,035	369,632
Revenue from receivable portfolios	(83,607)	(125,185)
Provision for (reversal of) allowances on receivable portfolios, net	(8,626)	(9,044)
Net additions on existing portfolios	(24,289)	18,114
Additions for current purchases, net	0	0
Effect of foreign currency translation	(33)	(482)
Ending balance	$ 136,480	$ 253,035	$ 369,632

Investment in Receivable Portfolios, Net - Summary of Changes in Balance of Investment in Receivable Portfolios (Detail) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Investment in Receivables Portfolio [Roll Forward]
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Carrying Amount, Net				$ 3,137,893				$ 2,890,613	$ 3,137,893	$ 2,890,613	$ 2,382,809
Certain Loans Acquired In Transfer Not Accounted For As Debt Securities Purchases Of Receivable Portfolios									1,046,696	1,131,898	1,058,235
Transfer of portfolios									0
Deconsolidation of receivable portfolios									(51,935)
Certain Loans Acquired In Transfer Not Accounted For As Debt Securities Disposals Or Transfers To Held-For-Sale									(11,495)	(12,456)	(13,188)
Collections on receivable portfolios	$ (498,799)	$ (499,395)	$ (514,881)	(513,853)	$ (483,582)	$ (498,843)	$ (496,093)	(489,102)	(2,026,928)	(1,967,620)	(1,767,644)
Put-backs and Recalls									(11,591)	(14,429)	(2,871)
Certain Loans Acquired In Transfer Not Accounted For As Debt Securities Foreign Currency Translation Adjustment Gain (Loss)									38,800	(98,718)	138,663
Certain Loans Acquired In Transfer Not Accounted For As Debt Securities Revenue Recognized									1,269,288	1,167,132	1,053,373
Portfolio (allowance) reversals, net									(8,108)	41,473	41,236
Reclassification from prior period										0
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Carrying Amount, Net	3,283,984				3,137,893				$ 3,283,984	$ 3,137,893	$ 2,890,613
Revenue as a percentage of collections									62.60%	59.30%	59.60%
Accrual Basis Portfolios [Member]
Investment in Receivables Portfolio [Roll Forward]
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Carrying Amount, Net				3,129,502				2,879,170	$ 3,129,502	$ 2,879,170	$ 2,368,366
Certain Loans Acquired In Transfer Not Accounted For As Debt Securities Purchases Of Receivable Portfolios									1,046,696	1,131,898	1,057,066
Transfer of portfolios									(78,980)
Deconsolidation of receivable portfolios									(51,935)
Certain Loans Acquired In Transfer Not Accounted For As Debt Securities Disposals Or Transfers To Held-For-Sale									(6,178)	(10,852)	(12,695)
Collections on receivable portfolios									(1,930,539)	(1,832,539)	(1,613,351)
Put-backs and Recalls									(11,566)	(14,253)	(2,577)
Certain Loans Acquired In Transfer Not Accounted For As Debt Securities Foreign Currency Translation Adjustment Gain (Loss)									37,224	(98,298)	138,828
Certain Loans Acquired In Transfer Not Accounted For As Debt Securities Revenue Recognized									1,185,681	1,041,947	909,239
Portfolio (allowance) reversals, net									(16,734)	32,429	34,294
Reclassification from prior period										0
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Carrying Amount, Net	3,204,535				3,129,502				$ 3,204,535	$ 3,129,502	$ 2,879,170
Revenue as a percentage of collections									61.40%	56.90%	56.40%
Cost Recovery Portfolios [Member]
Investment in Receivables Portfolio [Roll Forward]
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Carrying Amount, Net				8,391				11,443	$ 8,391	$ 11,443	$ 14,443
Certain Loans Acquired In Transfer Not Accounted For As Debt Securities Purchases Of Receivable Portfolios									0	0	1,169
Transfer of portfolios									78,980
Deconsolidation of receivable portfolios									0
Certain Loans Acquired In Transfer Not Accounted For As Debt Securities Disposals Or Transfers To Held-For-Sale									(5,317)	(1,604)	(493)
Collections on receivable portfolios									(4,201)	(1,826)	(3,511)
Put-backs and Recalls									0	0	0
Certain Loans Acquired In Transfer Not Accounted For As Debt Securities Foreign Currency Translation Adjustment Gain (Loss)									1,596	(420)	(165)
Certain Loans Acquired In Transfer Not Accounted For As Debt Securities Revenue Recognized									0	0	0
Portfolio (allowance) reversals, net									0	0	0
Reclassification from prior period										798
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Carrying Amount, Net	79,449				8,391				$ 79,449	$ 8,391	$ 11,443
Revenue as a percentage of collections									0.00%	0.00%	0.00%
Zero Basis Portfolios [Member]
Investment in Receivables Portfolio [Roll Forward]
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Carrying Amount, Net				$ 0				$ 0	$ 0	$ 0	$ 0
Certain Loans Acquired In Transfer Not Accounted For As Debt Securities Purchases Of Receivable Portfolios									0	0	0
Transfer of portfolios									0
Deconsolidation of receivable portfolios									0
Certain Loans Acquired In Transfer Not Accounted For As Debt Securities Disposals Or Transfers To Held-For-Sale									0	0	0
Collections on receivable portfolios									(92,188)	(133,255)	(150,782)
Put-backs and Recalls									(25)	(176)	(294)
Certain Loans Acquired In Transfer Not Accounted For As Debt Securities Foreign Currency Translation Adjustment Gain (Loss)									(20)	0	0
Certain Loans Acquired In Transfer Not Accounted For As Debt Securities Revenue Recognized									83,607	125,185	144,134
Portfolio (allowance) reversals, net									8,626	9,044	6,942
Reclassification from prior period										(798)
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Carrying Amount, Net	$ 0				$ 0				$ 0	$ 0	$ 0
Revenue as a percentage of collections									90.70%	93.90%	95.60%

Investment in Receivable Portfolios, Net - Summary of Change in Valuation Allowance for Investment in Receivable Portfolios (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Receivable Portfolio, Valuation Allowance [Roll Forward]
Balance at beginning of period	$ 60,631	$ 102,576
Provision for portfolio allowances	36,806	14,421
Reversal of prior allowances	(28,698)	(55,894)
Effect of foreign currency translation	1,776	(472)
Baycorp Transaction	(1,036)
Balance at end of period	$ 69,479	$ 60,631

Deferred Court Costs, Net - Schedule of Deferred Court Costs (Detail) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Court costs advanced	$ 891,207	$ 828,713
Court costs recovered	(369,043)	(336,335)
Court costs reserve	(421,992)	(396,460)	$ (364,015)	$ (327,926)
Deferred court costs	$ 100,172	$ 95,918

Deferred Court Costs, Net - Schedule of Court Cost Reserve (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Deferred Costs, Capitalized, Prepaid, and Other Assets [Roll Forward]
Balance at beginning of period	$ (396,460)	$ (364,015)	$ (327,926)
Provision for court costs	(82,987)	(90,026)	(82,702)
Charge-offs	60,618	53,383	50,743
Effect of foreign currency translation	(3,163)	4,198	(4,130)
Balance at end of period	$ (421,992)	$ (396,460)	$ (364,015)

Property and Equipment, Net (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Property, Plant and Equipment [Line Items]
Property and equipment, gross		$ 230,584
Property, plant, and equipment gross	$ 190,081
Less: accumulated depreciation and amortization	(70,030)
Property and equipment, net	120,051
Less: accumulated depreciation and amortization		(115,066)
Property and equipment, net		115,518
Depreciation and amortization expense	33,300	29,500	$ 31,100
Computer equipment and software
Property, Plant and Equipment [Line Items]
Property and equipment, gross	136,426	156,769
Leasehold improvements
Property, Plant and Equipment [Line Items]
Property and equipment, gross	37,245	28,775
Furniture, fixtures and equipment
Property, Plant and Equipment [Line Items]
Property and equipment, gross	10,428	17,335
Telecommunications equipment and other
Property, Plant and Equipment [Line Items]
Property and equipment, gross	3,893	1,866
Construction in process
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 2,089	$ 25,839

Other Assets (Detail) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Operating lease right-of-use assets	$ 75,254
Identifiable intangible assets, net	51,371	$ 60,581
Assets held for sale	46,717	26,664
Service fee receivables	27,705	28,035
Deferred tax assets	24,134	24,910
Prepaid expenses	22,272	24,989
Other financial receivables	17,308	47,363
Other	64,462	44,460
Total	$ 329,223	$ 257,002

Borrowings - Components of Debt (Detail) $ in Thousands, £ in Millions	Dec. 31, 2019 USD ($)	Dec. 31, 2019 GBP (£)	Dec. 31, 2018 USD ($)
Debt Instrument [Line Items]
Senior secured notes	$ 308,750		$ 325,000
Encore convertible and exchangeable notes	672,855		656,000
Less: debt discount	(30,308)		(36,361)
Other debt	54,151		107,920
Finance lease liabilities	8,121
Finance lease liabilities			7,563
Debt and capital lease obligations, before debt issuance costs	3,554,522		3,537,942
Less: debt issuance costs, net of amortization	(41,325)		(47,309)
Total	3,513,197		3,490,633
Encore revolving credit facility
Debt Instrument [Line Items]
Outstanding borrowings for credit facility	492,000		429,000
Cabot senior revolving credit facility
Debt Instrument [Line Items]
Outstanding borrowings for credit facility	285,700	£ 215.5	298,005
Cabot securitisation senior facility
Debt Instrument [Line Items]
Outstanding borrowings for credit facility			445,837
Cabot senior secured notes
Debt Instrument [Line Items]
Senior secured notes			1,111,399
Less: debt discount	(1,604)		(1,477)
Term Loan
Debt Instrument [Line Items]
Long-term debt	171,677		$ 195,056
Other debt	$ 171,700

Borrowings - Encore Revolving Credit Facility and Term Loan Facility (Detail) - USD ($)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Debt Instrument [Line Items]
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%
Term loan facility	$ 54,151,000	$ 107,920,000
Principal amortization in 2020	197,041,000
Principal amortization in 2021	$ 900,114,000
Borrowing base as percentage of eligible estimated collection range end	35.00%
Eligible estimated remaining collections for consumer receivables	55.00%
Maximum cash flow leverage ratio	300.00%
Maximum cash flow secured leverage ratio	200.00%
Minimum interest coverage ratio	175.00%
Maximum senior secured notes	$ 350,000,000.0
Allowance of additional unsecured indebtedness	1,100,000,000
Company's repurchases, common stock	$ 150,000,000.0
Percentage of acquisitions excluded	50.00%
Acquisition limit	$ 225,000,000.0
Maximum percentage of consolidated net worth	200.00%
Basket allowed for investments under laws of Canada	$ 50,000,000.0
Weighted average interest rate	5.27%	5.01%
Minimum
Debt Instrument [Line Items]
Maximum cash flow leverage ratio	125.00%
Base Rate \| Minimum
Debt Instrument [Line Items]
Basis spread on variable rate	1.50%
Base Rate \| Maximum
Debt Instrument [Line Items]
Basis spread on variable rate	2.00%
Junior Lien Portion
Debt Instrument [Line Items]
Allowance of additional unsecured indebtedness	$ 400,000,000.0
Revolving Credit Facility One
Debt Instrument [Line Items]
Revolving credit facility	$ 884,200,000
Revolving Credit Facility \| LIBOR \| Minimum
Debt Instrument [Line Items]
Basis spread on variable rate	2.50%
Revolving Credit Facility \| LIBOR \| Maximum
Debt Instrument [Line Items]
Basis spread on variable rate	3.00%
Term Loan One
Debt Instrument [Line Items]
Term loan facility	$ 194,600,000
Principal amortization in 2020	15,300,000
Principal amortization in 2021	$ 15,300,000
Term Loan One \| LIBOR \| Minimum
Debt Instrument [Line Items]
Basis spread on variable rate	2.50%
Term Loan One \| LIBOR \| Maximum
Debt Instrument [Line Items]
Basis spread on variable rate	3.00%
Term Loan One \| Base Rate \| Minimum
Debt Instrument [Line Items]
Basis spread on variable rate	1.50%
Term Loan One \| Base Rate \| Maximum
Debt Instrument [Line Items]
Basis spread on variable rate	2.00%
Encore revolving credit facility
Debt Instrument [Line Items]
Outstanding borrowings for credit facility	$ 492,000,000	$ 429,000,000
Restated Credit Agreement \| Revolving Credit Facility
Debt Instrument [Line Items]
Available borrowing capacity	$ 272,300,000

Borrowings - Encore Senior Secured Notes (Detail) - USD ($)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Aug. 31, 2017
Debt Instrument [Line Items]
Encore convertible and exchangeable notes	$ 672,855,000	$ 656,000,000
Senior secured notes	$ 308,750,000	$ 325,000,000
Basis spread over the current Treasury Rate (percent)	0.50%
2017 Senior Secured Notes
Debt Instrument [Line Items]
Encore convertible and exchangeable notes			$ 325,000,000.0
Debt instrument, interest rate (percent)	5.625%
Senior Secured Notes, periodic principal repayment	$ 16,300,000

Borrowings - Encore Convertible Notes and Exchangeable Notes (Detail)	1 Months Ended	12 Months Ended
	Sep. 30, 2019 USD ($)	Dec. 31, 2019 USD ($) $ / shares	Dec. 31, 2018 USD ($)	Dec. 31, 2017 USD ($)	Jul. 20, 2018	Mar. 31, 2017 USD ($)	Mar. 31, 2015 USD ($)	Jul. 31, 2013 USD ($)
Debt Instrument [Line Items]
Convertible senior notes sold		$ 672,855,000	$ 656,000,000
Unamortized debt discount		(30,308,000)	(36,361,000)
Total interest expense		3,523,000	11,710,000	$ 0
Convertible Notes \| 2020 Convertible Senior Notes
Debt Instrument [Line Items]
Convertible senior notes sold		$ 89,355,000	172,500,000
Stated interest rate (percent)		3.00%
Extinguishment of debt	$ 83,100,000
Payment for debt extinguishment	85,000,000.0
Loss on extinguishment of debt	1,700,000
Write off of deferred debt issuance cost	400,000
Initial conversion price (in dollars per share) \| $ / shares		$ 45.72
Closing stock price at date of issuance (in dollars per share) \| $ / shares		$ 33.35
Conversion or exchange rate (shares per $1,000 principal amount)		0.0218718
Debt component		$ 140,247,000
Equity component		32,253,000
Equity issuance cost		$ 1,106,000
Effective interest rate		6.35%
Equity component		$ 32,253,000
Convertible Notes \| 2021 Convertible Senior Notes
Debt Instrument [Line Items]
Convertible senior notes sold		$ 161,000,000	161,000,000				$ 161,000,000.0
Stated interest rate (percent)		2.875%					2.875%
Initial conversion price (in dollars per share) \| $ / shares		$ 59.39
Closing stock price at date of issuance (in dollars per share) \| $ / shares		$ 47.51
Conversion or exchange rate (shares per $1,000 principal amount)		0.0168386
Debt component		$ 143,645,000
Equity component		17,355,000
Equity issuance cost		$ 581,000
Effective interest rate		4.70%
Equity component		$ 17,355,000
Convertible Notes \| 2022 Convertible Senior Notes
Debt Instrument [Line Items]
Convertible senior notes sold		$ 150,000,000	150,000,000			$ 150,000,000.0
Stated interest rate (percent)		3.25%				3.25%
Initial conversion price (in dollars per share) \| $ / shares		$ 45.57
Closing stock price at date of issuance (in dollars per share) \| $ / shares		$ 35.05
Conversion or exchange rate (shares per $1,000 principal amount)		0.0219467
Debt component		$ 137,266,000
Equity component		12,734,000
Equity issuance cost		$ 398,000
Effective interest rate		5.20%
Equity component		$ 12,734,000
Convertible Notes \| 2023 Senior Secured Notes
Debt Instrument [Line Items]
Initial conversion price (in dollars per share) \| $ / shares		$ 44.62
Convertible Notes \| 2025 Convertible Senior Notes
Debt Instrument [Line Items]
Convertible senior notes sold	$ 100,000,000.0	$ 100,000,000	0
Stated interest rate (percent)	3.25%	3.25%
Initial conversion price (in dollars per share) \| $ / shares		$ 40.00
Closing stock price at date of issuance (in dollars per share) \| $ / shares		$ 32.00
Conversion or exchange rate (shares per $1,000 principal amount)		0.025
Debt component		$ 91,024,000
Equity component		8,976,000
Equity issuance cost		$ 224,000
Effective interest rate		5.00%
Equity component		$ 8,976,000
Senior Notes
Debt Instrument [Line Items]
Liability component—principal amount		642,547,000	619,639,000
Senior Notes \| 2023 Senior Secured Notes
Debt Instrument [Line Items]
Convertible senior notes sold		$ 172,500,000	172,500,000
Stated interest rate (percent)		4.50%
Initial conversion price (in dollars per share) \| $ / shares		$ 44.62
Closing stock price at date of issuance (in dollars per share) \| $ / shares		$ 36.45
Conversion or exchange rate (shares per $1,000 principal amount)		0.022409
Debt component		$ 157,971,000
Equity component		14,009,000
Equity issuance cost		$ 0
Effective interest rate		6.50%
Equity component		$ 14,009,000
Call Option \| 2020 Convertible Senior Notes
Debt Instrument [Line Items]
Proceeds from hedge, financing activities	$ 1,800,000
Convertible Notes And Senior Notes
Debt Instrument [Line Items]
Equity component		83,127,000	76,351,000
Liability component—principal amount		672,855,000	656,000,000
Unamortized debt discount		(30,308,000)	(36,361,000)
Liability component—net carrying amount		642,547,000	619,639,000
Equity component		83,127,000	76,351,000
Interest expense—stated coupon rate		23,845,000	17,518,000
Interest income— amortization of debt discount (accretion of debt premium)		12,780,000	10,888,000
Total interest expense		$ 36,625,000	$ 28,406,000
Subsidiaries \| Encore Finance
Debt Instrument [Line Items]
Ownership percentage					100.00%
Encore Finance \| Convertible Notes \| 2020 Convertible Senior Notes
Debt Instrument [Line Items]
Convertible senior notes sold								$ 172,500,000
Stated interest rate (percent)								3.00%

Borrowings - Hedge Transactions (Details) - Convertible Notes $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2019 USD ($) $ / shares
2020 Convertible Senior Notes
Debt Instrument [Line Items]
Cost of the hedge transaction(s) \| $	$ 18,113
Conversion or exchange price (in dollars per share)	$ 45.72
2020 Convertible Senior Notes \| Hedging of Convertible Debt Instrument
Debt Instrument [Line Items]
Conversion or exchange price (in dollars per share)	$ 61.55
2021 Convertible Senior Notes
Debt Instrument [Line Items]
Cost of the hedge transaction(s) \| $	$ 19,545
Conversion or exchange price (in dollars per share)	$ 59.39
2021 Convertible Senior Notes \| Hedging of Convertible Debt Instrument
Debt Instrument [Line Items]
Conversion or exchange price (in dollars per share)	$ 83.14
2023 Senior Secured Notes
Debt Instrument [Line Items]
Cost of the hedge transaction(s) \| $	$ 17,785
Conversion or exchange price (in dollars per share)	$ 44.62
2023 Senior Secured Notes \| Hedging of Convertible Debt Instrument
Debt Instrument [Line Items]
Conversion or exchange price (in dollars per share)	$ 62.48

Borrowings - Cabot Senior Debt (Details) $ in Thousands	1 Months Ended		12 Months Ended
Borrowings - Cabot Senior Debt (Details) $ in Thousands	Jun. 30, 2019 USD ($)	Jun. 30, 2019 EUR (€)	Dec. 31, 2019 USD ($)	Dec. 31, 2018 USD ($)	Dec. 31, 2017 USD ($)	Dec. 31, 2019 EUR (€)	Jun. 30, 2019 EUR (€)
Debt Instrument [Line Items]
Senior secured notes			$ 308,750	$ 325,000
Convertible senior notes sold			672,855	656,000
Debt issuance and redemption costs			9,000
Total interest expense			$ 3,523	11,710	$ 0
Senior Notes \| Senior secured notes due 2023
Debt Instrument [Line Items]
Debt instrument, interest rate (percent)			7.50%			7.50%
Senior Notes \| 2024 Cabot Floating Rate Notes
Debt Instrument [Line Items]
Debt instrument, interest rate (percent)	6.375%						6.375%
Convertible senior notes sold	$ 452,000						€ 400,000,000.0
Senior Notes \| Cabot senior secured notes
Debt Instrument [Line Items]
Senior secured notes			$ 1,129,039
Total interest expense			77,429	85,115
Secured Debt
Debt Instrument [Line Items]
Senior secured notes			1,129,039	1,111,399
Secured Debt \| Floating rate senior secured notes due 2024
Debt Instrument [Line Items]
Senior secured notes			448,921	0
Secured Debt \| Floating rate senior secured notes due 2021
Debt Instrument [Line Items]
Senior secured notes			0	356,067
Secured Debt \| Senior secured notes due 2023
Debt Instrument [Line Items]
Senior secured notes			$ 680,118	653,355
Debt instrument, interest rate (percent)			7.50%			7.50%
Convertible senior notes sold			$ 651,300			€ 512,900,000
Secured Debt \| Senior secured notes due 2021
Debt Instrument [Line Items]
Extinguishment of debt	350,300	€ 310,000,000.0
Secured Debt \| Senior secured notes due 2021
Debt Instrument [Line Items]
Senior secured notes			$ 0	101,977
Debt instrument, interest rate (percent)			6.50%			6.50%
Extinguishment of debt	$ 101,600	€ 80,000,000.0
Secured Debt \| Cabot senior secured notes
Debt Instrument [Line Items]
Senior secured notes			$ 1,127,435	1,109,922
Three-Month EURIBOR \| Secured Debt \| Floating rate senior secured notes due 2024
Debt Instrument [Line Items]
Basis spread on variable rate			6.375%
Three-Month EURIBOR \| Secured Debt \| Floating rate senior secured notes due 2021
Debt Instrument [Line Items]
Basis spread on variable rate			5.875%
Interest expense \| Senior Notes \| Cabot senior secured notes
Debt Instrument [Line Items]
Interest expense—stated coupon rate			$ 76,897	84,772
Interest income— amortization of debt discount (accretion of debt premium)			$ 532	343
Cabot senior secured notes
Debt Instrument [Line Items]
Senior secured notes				$ 1,111,399

Borrowings - Cabot Senior Revolving Credit Facility & Securitisation Senior Facility (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2019 USD ($)	Dec. 31, 2018 USD ($)	Dec. 31, 2019 GBP (£)	Nov. 01, 2018 GBP (£)
Debt Instrument [Line Items]
Weighted average interest rate	5.27%	5.01%
Assets \| $	$ 4,909,950	$ 4,631,875
Cabot senior revolving credit facility
Debt Instrument [Line Items]
Maximum loan to value ratio	75.00%
Outstanding borrowings for credit facility	$ 285,700	$ 298,005	£ 215,500,000
Weighted average interest rate	3.52%	3.73%
Available capacity	$ 211,500		159,500,000
Senior Loans \| Cabot senior revolving credit facility
Debt Instrument [Line Items]
Maximum loan to value ratio	27.50%
Cabot Credit Agreement, Tranche with Expiration in September 2022 \| Secured Debt \| Cabot senior revolving credit facility
Debt Instrument [Line Items]
Revolving credit facility			375,000,000.0
Cabot Credit Agreement, Tranche with Expiration in September 2022 \| LIBOR \| Secured Debt \| Cabot senior revolving credit facility
Debt Instrument [Line Items]
Debt instrument, initial spread percentage	3.00%
Cabot securitisation senior facility
Debt Instrument [Line Items]
Revolving credit facility			300,000,000.0
Outstanding borrowings for credit facility	$ 464,100		350,000,000.0
Amount drawn on facility			300,000,000.0
Assets	$ 453,800		342,200,000
Long-term debt, weighted average interest rate, over time (percentage)	3.74%	3.46%
Cabot securitisation senior facility \| LIBOR
Debt Instrument [Line Items]
Debt instrument, initial spread percentage	2.85%
Cabot Securitisation Non-Recourse Asset-Backed Senior Facility
Debt Instrument [Line Items]
Revolving credit facility				£ 50,000,000.0
Assets	$ 71,700		54,100,000
Available borrowing capacity			£ 50,000,000.0
Cabot Securitisation Non-Recourse Asset-Backed Senior Facility \| LIBOR
Debt Instrument [Line Items]
Debt instrument, initial spread percentage	4.075%

Borrowings - Summary of Debt and Capital Lease Obligations Maturities (Detail) $ in Thousands	Dec. 31, 2019 USD ($)
Maturities of Long-term Debt and Capital Lease Obligations [Abstract]
Finance lease liabilities	$ 8,121
Principal amortization in 2020	197,041
Principal amortization in 2021	900,114
Principal amortization in 2020	221,768
Principal amortization in 2022	1,669,840
Principal amortization in 2023	497,671
Thereafter	100,000
Total	$ 3,586,434

Stock-Based Compensation - Narrative (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017	Apr. 30, 2017
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	$ 12.6	$ 13.0	$ 10.4
Tax benefit from stock-based compensation arrangements	1.2	1.3	3.6
Cash received from option exercise	0.3	0.7	0.5
Stock options intrinsic value	$ 1.0	0.4	0.8
Performance stock options, threshold trading days	20 days
Performance stock options, threshold increase from closing price on date of grant	25.00%
Unrecognized compensation cost, expected period of recognition	1 year 3 months 18 days
Unrecognized compensation cost, non vested shares	$ 13.0
Fair value of restricted stock units and restricted stock awards vested	$ 8.9	$ 8.8	$ 7.8
Stock Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation, contractual term	10 years
Performance Stock Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total unrecognized compensation cost related to non-vested performance stock options	$ 0.1
Unrecognized compensation cost, expected period of recognition	2 months 12 days
Minimum \| Stock Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation, vesting period	3 years
Maximum \| Stock Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation, vesting period	5 years
2017 Incentive Compensation Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares authorized for grant (in shares)				5,713,571
Conversion ratio full value awards				2.12
2017 Incentive Compensation Plan \| Full Value Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Conversion ratio full value awards				2.12
2017 Incentive Compensation Plan \| Stock Options and Stock Appreciation Rights
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Conversion ratio full value awards				1
2017 Plan and 2013 Plan \| Performance Stock Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation, vesting period	3 years
Share-based compensation, contractual term	7 years
Options performance measurement period	4 years

Stock-Based Compensation - Summary of Stock Option Activity (Detail) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2019 USD ($) $ / shares shares
Number of Shares
Number of Shares, Outstanding, Beginning Balance (in shares) \| shares	55,766
Number of Shares, Exercised (in shares) \| shares	(46,600)
Number of Shares, Outstanding, Ending Balance (in shares) \| shares	9,166
Number of Shares, Exercisable, Ending Balance (in shares) \| shares	9,166
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price [Abstract]
Weighted Average Exercise Price, Outstanding, Beginning Balance (in dollars per share) \| $ / shares	$ 15.21
Weighted Average Exercise Price, Exercised (in dollars per share) \| $ / shares	13.84
Weighted Average Exercise Price, Outstanding, Ending Balance (in dollars per share) \| $ / shares	22.17
Weighted Average Exercise Price, Exercisable, Ending Balance (in dollars per share) \| $ / shares	$ 22.17
Weighted Average Remaining Contractual Term (in years), Outstanding	2 years 3 months 3 days
Weighted Average Remaining Contractual Term (in years), Exercisable	2 years 3 months 3 days
Aggregate intrinsic value, Outstanding \| $	$ 121
Aggregate intrinsic value, Exercisable \| $	$ 121

Stock-Based Compensation - Summary of Performance Stock Options Activity (Details) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2019 USD ($) $ / shares shares
Number of Shares
Number of Shares, Outstanding, Beginning Balance (in shares) \| shares	55,766
Number of Shares, Exercised (in shares) \| shares	(46,600)
Number of Shares, Outstanding, Ending Balance (in shares) \| shares	9,166
Number of Shares, Exercisable, Ending Balance (in shares) \| shares	9,166
Weighted Average Grant Date Fair Value
Weighted Average Exercise Price, Outstanding, Beginning Balance (in dollars per share) \| $ / shares	$ 15.21
Weighted Average Exercise Price, Exercised (in dollars per share) \| $ / shares	13.84
Weighted Average Exercise Price, Outstanding, Ending Balance (in dollars per share) \| $ / shares	22.17
Weighted Average Exercise Price, Exercisable, Ending Balance (in dollars per share) \| $ / shares	$ 22.17
Weighted Average Remaining Contractual Term (in years), Outstanding	2 years 3 months 3 days
Weighted Average Remaining Contractual Term (in years), Exercisable	2 years 3 months 3 days
Aggregate intrinsic value, Outstanding \| $	$ 121
Aggregate intrinsic value, Exercisable \| $	$ 121
Performance Stock Options
Number of Shares
Number of Shares, Outstanding, Beginning Balance (in shares) \| shares	216,582
Number of Shares, Exercised (in shares) \| shares	(10,952)
Number of Shares, Cancelled/Forfeited (in shares) \| shares	(13,872)
Number of Shares, Expired (in shares) \| shares	(27,745)
Number of Shares, Outstanding, Ending Balance (in shares) \| shares	164,013
Number of Shares, Vested or Expected to Vest (in shares) \| shares	163,024
Number of Shares, Exercisable, Ending Balance (in shares) \| shares	105,696
Weighted Average Grant Date Fair Value
Weighted Average Exercise Price, Outstanding, Beginning Balance (in dollars per share) \| $ / shares	$ 31.54
Weighted Average Exercise Price, Exercised (in dollars per share) \| $ / shares	30.95
Weighted Average Exercise Price, Cancelled/Forfeited (in dollars per share) \| $ / shares	30.95
Weighted Average Exercise Price, Expired (in dollars per share) \| $ / shares	30.95
Weighted Average Exercise Price, Outstanding, Ending Balance (in dollars per share) \| $ / shares	31.73
Weighted Average Exercise Price, Vested and Expected to Vest (in dollars per share) \| $ / shares	31.73
Weighted Average Exercise Price, Exercisable, Ending Balance (in dollars per share) \| $ / shares	$ 31.75
Weighted Average Remaining Contractual Term (in years), Outstanding	4 years 2 months 15 days
Weighted Average Remaining Contractual Term (in years), Vested or expected to vest	4 years 2 months 15 days
Weighted Average Remaining Contractual Term (in years), Exercisable	4 years 2 months 15 days
Aggregate intrinsic value, Outstanding \| $	$ 665
Aggregate intrinsic value, Vested or expected to vest \| $	660
Aggregate intrinsic value, Exercisable \| $	$ 427

Stock-Based Compensation - Summary of Stock Awards (Detail) - $ / shares	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Non-Vested Shares (1)
Non-Vested Shares, Beginning Balance (in shares)	859,932
Non-Vested Shares, Awarded (in shares)	569,872
Non-Vested Shares, Vested (in shares)	(267,157)
Non-Vested Shares, Cancelled (in shares)	(240,117)
Non-Vested Shares, Ending Balance (in shares)	922,530
Weighted Average Grant Date Fair Value
Weighted Average Grant Date Fair Value, Beginning Balance (in dollars per share)	$ 34.43
Weighted Average Grant Date Fair Value, Awarded (in dollars per share)	32.42
Weighted Average Grant Date Fair Value, Vested (in dollars per share)	35.32
Weighted Average Grant Date Fair Value, Cancelled (in dollars per share)	32.00
Weighted Average Grant Date Fair Value, Ending Balance (in dollars per share)	$ 33.11
Performance Shares
Weighted Average Grant Date Fair Value
Maximum shares that could vest (percent)	200.00%
Maximum number that could vest (in shares)	1,171,334	1,218,359

Income Taxes Income Taxes - Income Before Provision for Income Taxes (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Income Tax Disclosure [Abstract]
Domestic	$ 144,495	$ 61,972	$ 71,794
Foreign	56,747	94,516	59,432
Income from continuing operations before income taxes	$ 201,242	$ 156,488	$ 131,226

Income Taxes Income Taxes - Income Tax Provision for Continuing Operations (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Income Tax Disclosure [Abstract]
Federal	$ (2,917)	$ 23,254	$ 9,969
State	(6,464)	2,983	(794)
Foreign	21,008	29,532	15,690
Total current income tax expense	11,627	55,769	24,865
Federal	27,640	(10,447)	16,563
State	5,535	(2,169)	784
Foreign	(12,469)	3,599	9,837
Total deferred income tax expense	20,706	(9,017)	27,184
Provision for income taxes	$ 32,333	$ 46,752	$ 52,049

Income Taxes - Schedule of Effective Tax Rates (Detail)	12 Months Ended
Income Taxes - Schedule of Effective Tax Rates (Detail)	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Income Tax Disclosure [Abstract]
Federal provision	21.00%	21.00%	35.00%
State provision	0.20%	0.10%	0.50%
Foreign rate differential	(2.20%)	(11.70%)	(20.00%)
Transaction costs	0.00%	1.00%	5.00%
Permanent items	0.00%	1.10%	10.20%
Change in valuation allowance	(0.50%)	17.70%	8.20%
Other	0.00%	0.70%	0.80%
Effective rate	16.10%	29.90%	39.70%

Income Taxes - Narrative (Detail) - USD ($) $ in Thousands	12 Months Ended
Income Taxes - Narrative (Detail) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Income Taxes [Line Items]
Undistributed earnings	$ 151,300
Valuation allowance	36,422	$ 46,516
Unrecognized tax benefits, including penalties and interest	8,200	19,900	$ 22,200
Net tax benefit from unrecognized tax benefits, if recognized	7,600	13,000	9,900
Unrecognized tax benefits, income tax penalties and interest expense	2,700	600	$ 800
Unrecognized tax benefits, income tax penalties and interest accrued	300	$ 1,400
Foreign Subsidiaries
Income Taxes [Line Items]
Net operating loss carry forward	238,200
State and Local Jurisdiction \| Domestic Subsidiaries
Income Taxes [Line Items]
Net operating loss carry forward	$ 2,200
Tax Holiday Through 2026 \| Costa Rica
Income Taxes [Line Items]
Holiday tax rate	100.00%

Income Taxes - Components of Deferred Tax Assets and Liabilities (Detail) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Deferred tax assets:
Net operating losses	$ 36,236	$ 42,013
Financing obligation	18,023
Accrued expenses	10,050	17,715
Difference in basis of bond and loan costs	4,194	3,728
Stock-based compensation	2,882	2,796
State taxes	1	174
Differences in income recognition related to receivable portfolios	0	13,857
Prepaid expenses	0	2,949
Other	1,821	4,825
Total deferred tax assets	73,207	88,057
Valuation allowance	(36,422)	(46,516)
Total deferred tax assets net of valuation allowance	36,785	41,541
Deferred tax liabilities:
Deferred court costs	(23,682)	(23,484)
Right-of-use asset	(14,422)
Difference in basis of depreciable and amortizable assets	(3,680)	(1,937)
Prepaid expenses	(628)	0
Other	(4,616)	(3,403)
Total deferred tax liabilities	(47,028)	(28,824)
Net deferred tax asset	$ (10,243)
Net deferred tax asset		$ 12,717

Income Taxes - Unrecognized Tax Benefit (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Reconciliation of Unrecognized Tax Benefits [Roll Forward]
Beginning Balance	$ 18,552	$ 20,020	$ 18,945
Decreases related to prior year tax positions	(10,673)
Increases related to prior year tax positions		256
Increases related to current year tax positions	4,442	1,958	5,902
Decreases related to settlements with taxing authorities	(1,920)	(461)	(228)
Decreases related to current year tax positions			(4,599)
Decrease related to expiration of statute of limitations	(2,493)	(3,221)
Ending Balance	$ 7,908	$ 18,552	$ 20,020

Leases - Lease Cost (Details) $ in Thousands	12 Months Ended
Leases - Lease Cost (Details) $ in Thousands	Dec. 31, 2019 USD ($)
Leases [Abstract]
Operating lease costs	$ 19,450
Amortization of right-of-use assets	1,825
Finance Lease, Interest Expense	563
Total lease costs	$ 21,838

Leases - Supplemental Balance Sheet Information (Details) $ in Thousands	Dec. 31, 2019 USD ($)
Leases [Abstract]
Operating lease right-of-use assets	$ 75,254
Finance lease right-of-use assets	9,133
Total lease right-of-use assets	84,387
Operating lease liabilities	93,847
Finance lease liabilities	8,121
Total lease liabilities	$ 101,968

Leases - Operating Information (Details) $ in Thousands	12 Months Ended
Leases - Operating Information (Details) $ in Thousands	Dec. 31, 2019 USD ($)
Leases [Abstract]
Right-of-use assets obtained in exchange for new operating lease obligations	$ 123,477
Right-of-use assets obtained in exchange for new finance lease obligations	5,299
Operating leases - operating cash flows	14,874
Finance leases - operating cash flows	295
Finance leases - financing cash flows	$ 1,898
Weighted-average remaining lease term, operating leases (years)	8 years 1 month 6 days
Weighted-average remaining lease term, finance leases (years)	3 years 1 month 6 days
Weighted-average discount rate, operating leases (percentage)	5.30%
Weighted-average discount rate, finance leases (percentage)	4.70%

Leases - Schedule of Lease Payments (Details) $ in Thousands	Dec. 31, 2019 USD ($)
Finance Lease, Liability, Payment, Due [Abstract]
2020	$ 2,898
2021	2,736
2022	2,509
2023	597
2024	0
Thereafter	0
Total undiscounted lease payments	8,740
Less: imputed interest	(619)
Finance lease liabilities	8,121
Lessee, Operating Lease, Liability, Payment, Due [Abstract]
2020	17,898
2021	16,845
2022	13,726
2023	12,534
2024	12,275
Thereafter	41,497
Total undiscounted lease payments	114,775
Less: imputed interest	(20,928)
Operating lease liabilities	93,847
2020	20,796
2021	19,581
2022	16,235
2023	13,131
2024	12,275
Thereafter	41,497
Total undiscounted lease payments	123,515
Less: imputed interest	(21,547)
Total lease liabilities	$ 101,968

Leases - Schedule of Lease Payments as of Prior Year End (Details) $ in Thousands	Dec. 31, 2018 USD ($)
Capital Lease Obligations [Abstract]
Capital lease obligation, 2019	$ 2,507
Capital lease obligation, 2020	1,983
Capital lease obligation, 2021	1,844
Capital lease obligation, 2022	1,630
Capital lease obligation, 2023	204
Capital lease obligation, Thereafter	0
Total minimal leases payments, Capital Leases	8,168
Less: interest	(605)
Present value of minimal lease payments	7,563
Lessee, Operating Lease, Liability, Payment, Due [Abstract]
Operating lease obligation, 2019	16,538
Operating lease obligation, 2020	13,850
Operating lease obligation, 2021	13,044
Operating lease obligation, 2022	11,737
Operating lease obligation, 2023	9,741
Operating lease obligation, Thereafter	37,997
Total minimal leases payments, Operating Leases	102,907
Total lease, 2019	19,045
Total lease, 2020	15,833
Total lease, 2021	14,888
Total lease, 2022	13,367
Total lease, 2023	9,945
Total lease, Thereafter	37,997
Contractual Obligation, Total	$ 111,075

Commitments and Contingencies - Narrative (Detail)	12 Months Ended
Commitments and Contingencies - Narrative (Detail)	Dec. 31, 2019 USD ($)
Loss Contingencies [Line Items]
Material reserves for legal matters	$ 0
Purchase price of receivable portfolios	2,400,000,000
Purchase price	298,900,000
Estimated fair value, liability	$ 0
Maximum
Loss Contingencies [Line Items]
Purchase commitment term (years)	1 year

Segment Information - Narrative (Detail)	12 Months Ended
Segment Information - Narrative (Detail)	Dec. 31, 2019 segment
Segment Reporting [Abstract]
Number of reportable segments	1

Segment Information - Schedule of Geographical Areas of Which Company Operates (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Segment Reporting Information [Line Items]
Revenues	$ 1,397,681	$ 1,362,030	$ 1,187,038
United States
Segment Reporting Information [Line Items]
Revenues	817,693	709,493	665,564
Europe
Segment Reporting Information [Line Items]
Revenues	520,433	556,265	427,655
Other geographies
Segment Reporting Information [Line Items]
Revenues	$ 59,555	$ 96,272	$ 93,819

Segment Information - Schedule of Long-lived Assets by Geographic Areas (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Segment Reporting Information [Line Items]
Property and equipment, net	$ 120,051
Property and equipment, net		$ 115,518
United States
Segment Reporting Information [Line Items]
Property and equipment, net	84,118
Property and equipment, net		76,791
United Kingdom
Segment Reporting Information [Line Items]
Property and equipment, net	28,602
Property and equipment, net		27,454
Other foreign countries
Segment Reporting Information [Line Items]
Property and equipment, net	7,331
Property and equipment, net		11,273
International
Segment Reporting Information [Line Items]
Property and equipment, net	$ 35,933
Property and equipment, net		$ 38,727

Goodwill and Identifiable Intangible Assets - Narrative (Detail) - USD ($)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Goodwill [Line Items]
Goodwill impairment	$ 10,718,000	$ 0	$ 0
Amortization expense	7,700,000	$ 11,700,000	$ 8,900,000
MCM And Cabot
Goodwill [Line Items]
Goodwill impairment	$ 0

Goodwill and Identifiable Intangible Assets - Schedule of Reportable Segments by Reporting Units (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Goodwill [Roll Forward]
Balance at beginning of period:	$ 868,126	$ 928,993
Goodwill adjustment	0	(2,213)
Goodwill eliminated in connection with divestiture	0	(13,347)
Goodwill impairment	(10,718)	0	$ 0
Effect of foreign currency translation	26,777	(45,307)
Balance at end of period:	$ 884,185	$ 868,126	$ 928,993

Goodwill and Identifiable Intangible Assets - Summary of Acquired Intangible Assets (Detail) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Finite-Lived Intangible Assets [Line Items]
Accumulated Amortization	$ (27,559)	$ (28,684)
Net Carrying Amount	51,371
Gross Carrying Amount	78,930	89,265
Net Carrying Amount	51,371	60,581
Customer relationships
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	67,897	73,458
Accumulated Amortization	(18,191)	(17,025)
Net Carrying Amount	49,706	56,433
Developed technologies
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	4,734	7,461
Accumulated Amortization	(4,124)	(6,446)
Net Carrying Amount	610	1,015
Trade name and other
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	6,299	8,346
Accumulated Amortization	(5,244)	(5,213)
Net Carrying Amount	$ 1,055	$ 3,133

Goodwill and Identifiable Intangible Assets - Weighted-Average Useful Lives of Intangible Assets (Detail)	12 Months Ended
	Dec. 31, 2019
Customer relationships
Acquired Finite-Lived Intangible Assets [Line Items]
Weighted-average useful lives	10 years
Developed technologies
Acquired Finite-Lived Intangible Assets [Line Items]
Weighted-average useful lives	5 years
Trade name and other
Acquired Finite-Lived Intangible Assets [Line Items]
Weighted-average useful lives	7 years

Goodwill and Identifiable Intangible Assets - Estimated Future Amortization Expense (Detail) $ in Thousands	Dec. 31, 2019 USD ($)
Goodwill and Intangible Assets Disclosure [Abstract]
2020	$ 7,304
2021	7,168
2022	6,573
2023	6,187
2024	6,094
Thereafter	18,045
Net Carrying Amount	$ 51,371

Quarterly Information (Unaudited) - Summary of Quarterly Financial Data for Periods (Detail) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Quarterly Financial Information Disclosure [Abstract]
Gross collections	$ 498,799	$ 499,395	$ 514,881	$ 513,853	$ 483,582	$ 498,843	$ 496,093	$ 489,102	$ 2,026,928	$ 1,967,620	$ 1,767,644
Total revenues, adjusted by net allowances	347,794	355,936	346,874	347,077	348,721	336,774	349,747	326,788	1,405,789	1,320,557	1,145,802
Total operating expenses	234,584	247,591	233,142	236,019	232,834	239,246	246,314	238,336	951,336	956,730	862,498
Income from continuing operations	43,232	39,413	36,822	49,442	46,033	13,016	26,974	23,713	168,909	109,736	79,177
Net income	43,232	39,413	36,822	49,442	46,033	13,016	26,974	23,713	168,909	109,736	78,978
Amounts attributable to Encore Capital Group, Inc.:
Income from continuing operations	43,085	38,869	36,661	49,254	47,036	20,725	26,298	21,827	167,869	115,886	83,427
Net income attributable to Encore Capital Group, Inc. stockholders	$ 43,085	$ 38,869	$ 36,661	$ 49,254	$ 47,036	$ 20,725	$ 26,298	$ 21,827	$ 167,869	$ 115,886	$ 83,228
Basic (USD per share)	$ 1.38	$ 1.24	$ 1.17	$ 1.58	$ 1.51	$ 0.69	$ 1.01	$ 0.84	$ 5.38	$ 4.09	$ 3.20
Diluted (USD per share)	$ 1.36	$ 1.23	$ 1.17	$ 1.57	$ 1.50	$ 0.69	$ 1.00	$ 0.83	$ 5.33	$ 4.06	$ 3.15

Subsequent Event (Details) - GBP (£)	Feb. 18, 2020	Dec. 31, 2019	Nov. 01, 2018
Cabot securitisation senior facility
Subsequent Event [Line Items]
Maximum borrowing capacity		£ 300,000,000.0
Cabot Securitisation Non-Recourse Asset-Backed Senior Facility
Subsequent Event [Line Items]
Maximum borrowing capacity			£ 50,000,000.0
Subsequent Event \| Cabot securitisation senior facility
Subsequent Event [Line Items]
Increase (decrease) in borrowing capacity	£ 50,000,000.0
Maximum borrowing capacity	350,000,000.0
Proceeds from lines of credit	£ 50,000,000.0
Subsequent Event \| Cabot securitisation senior facility \| Sterling Overnight Index Average (SONIA) \| Debt Instrument, Redemption, Period One
Subsequent Event [Line Items]
Basis spread on variable rate	3.06%
Subsequent Event \| Cabot securitisation senior facility \| Sterling Overnight Index Average (SONIA) \| Debt Instrument, Redemption, Period Two \| Minimum
Subsequent Event [Line Items]
Basis spread on variable rate	0.00%
Subsequent Event \| Cabot securitisation senior facility \| Sterling Overnight Index Average (SONIA) \| Debt Instrument, Redemption, Period Two \| Maximum
Subsequent Event [Line Items]
Basis spread on variable rate	1.00%
Subsequent Event \| Cabot Securitisation Non-Recourse Asset-Backed Senior Facility
Subsequent Event [Line Items]
Repayments of lines of credit	£ 50,000,000.0

Label	Element	Value
Redeemable Noncontrolling Interest, Equity, Carrying Amount	us-gaap_RedeemableNoncontrollingInterestEquityCarryingAmount	$ 0