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FAIR VALUE MEASUREMENTS (Tables)
 9 Months Ended
Sep. 30, 2021
Fair Value Disclosures [Abstract]  
Summary of Assets and Liabilities Not Measured at Fair Value
The table below presents the assets and liabilities that were carried at fair value on the unaudited Condensed Consolidated Balance Sheets at September 30, 2021 (in thousands):

Estimated Fair Value
Carrying Value September 30,
2021		Level 1Level 2Level 3Total
Financial assets:
Cash Surrender Value of Life Insurance$7,994 $7,994 $— $— $7,994 
Financial liabilities:
Non-qualified deferred compensation plan$4,945 $4,945 $— $— $4,945 
Contingent consideration related to acquisition24,129 — — 24,129 24,129 
The table below presents the assets and liabilities that were carried at fair value on the unaudited Condensed Consolidated Balance Sheets at December 31, 2020 (in thousands):
Estimated Fair Value
Carrying Value December 31,
2020		Level 1Level 2Level 3Total
Financial assets:
Cash Surrender Value of Life Insurance$7,140 $7,140 $— $— $7,140 
Financial liabilities:
Non-qualified deferred compensation plan$4,690 $4,690 $— $— $4,690 
The table below presents the assets and liabilities that were not carried at fair value on the unaudited Condensed Consolidated Balance Sheets at September 30, 2021 (in thousands):
Estimated Fair Value
Carrying Value September 30,
2021		Level 1Level 2Level 3Total
Financial assets:
Cash and cash equivalents$205,785 $205,785 $— $— $205,785 
Restricted cash66,168 66,168 — — 66,168 
Loans receivable, net809,813 — — 809,813 809,813 
Financial liabilities:
Liability for losses on CSO lender-owned consumer loans
$7,007 $— $— $7,007 $7,007 
7.50% Senior Secured Notes
734,533 — 757,650 — 757,650 
Non-Recourse U.S. SPV facility44,940 — — 49,456 49,456 
Non-Recourse Canada SPV facility96,821 — — 97,818 97,818 
Non-Recourse Flexiti SPE facility255,704 — — 259,940 259,940 
The table below presents the assets and liabilities that were not carried at fair value on the unaudited Condensed Consolidated Balance Sheets at December 31, 2020 (in thousands):
Estimated Fair Value
Carrying Value December 31,
2020		Level 1Level 2Level 3Total
Financial assets:
Cash and cash equivalents$213,343 $213,343 $— $— $213,343 
Restricted cash54,765 54,765 — — 54,765 
Loans receivable, net467,560 — — 467,560 467,560 
Financial liabilities:
Liability for losses on CSO lender-owned consumer loans$7,228 $— $— $7,228 $7,228 
8.25% Senior Secured Notes
680,000 — 646,000 — 646,000 
Non-Recourse U.S. SPV facility43,586 — — 49,456 49,456 
Non-Recourse Canada SPV facility96,075 — — 97,971 97,971 
Summary of Equity Method Investments
The table below presents the Company's investment in Katapult (in thousands):
Equity Method Investment
Measurement Alternative (1)
Total Investment in Katapult
Balance at December 31, 2019$10,068 $— $10,068 
Equity method (loss) - Q1 2020(1,618)— (1,618)
Balance at March 31, 20208,450 — 8,450 
Equity method income - Q2 2020741 741
Balance at June 30, 20209,191 — 9,191 
Equity method income - Q3 20203,530 — 3,530 
Accounting policy change for certain securities from equity method investment to measurement alternative(12,452)12,452 — 
Purchases of common stock warrants and preferred shares4,030 7,157 11,187 
Balance at September 30, 20204,299 19,609 23,908 
Equity method income - Q4 20201,893 — 1,893 
Purchases of common stock1,570 — 1,570 
Balance at December 31, 20207,762 19,609 27,371 
Equity method income - Q1 2021546 — 546 
Balance at March 31, 20218,308 19,609 27,917 
Equity method income - Q2 20211,712 — 1,712 
Conversion of investment(2)
6,481 (19,609)(13,128)
Balance at June 30, 202116,501 — 16,501 
Equity method loss - Q3 2021(1,582)$— (1,582)
Balance at September 30, 2021$14,919 $— $14,919 
Classification as of December 31, 2020Level 3, not carried at fair valueLevel 3, carried at measurement alternative
Classification as of September 30, 2021Level 3, not carried at fair valueN/A
(1) The Company elected to measure this equity security without a readily determinable fair value equal to its cost minus impairment. If the Company identifies an observable price change in orderly transactions for same or similar investment in Katapult, it will measure the equity security at fair value as of the date that the observable transaction occurred.
(2) On June 9, 2021, Katapult completed its merger with FinServ. Immediately prior to the merger, the Company first converted all of its preferred stock and exercised all common stock warrants, and then exchanged all shares of Katapult common stock for $146.9 million in cash and 18.9 million shares of common stock in the resulting public company, Katapult (NASDAQ: KPLT). The Company's entire investment in Katapult is now accounted for under the equity method of accounting. The Company recorded a related net gain of $135.4 million on its equity method investment in Katapult, based on the pro rata cost basis of the investment and the discharge of the guarantee provided during the second quarter of 2021.