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Investment in Receivable Portfolios, Net (Tables)
 6 Months Ended
Jun. 30, 2016
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
December 31, 2015
$
3,047,640

 
$
223,031

 
$
3,270,671

Revenue recognized, net
(238,547
)
 
(31,547
)
 
(270,094
)
Net additions on existing portfolios
39,538

 
8,071

 
47,609

Additions for current purchases, net
193,654

 
—

 
193,654

Effect of foreign currency translation
(64,330
)
 
470

 
(63,860
)
Balance at March 31, 2016
2,977,955

 
200,025

 
3,177,980

Revenue recognized, net
(233,714
)
 
(33,738
)
 
(267,452
)
Net additions on existing portfolios
59,459

 
95,135

 
154,594

Additions for current purchases, net
183,217

 
—

 
183,217

Effect of foreign currency translation
(181,223
)
 
245

 
(180,978
)
Balance at June 30, 2016
$
2,805,694

 
$
261,667

 
$
3,067,361

 
Accretable
Yield
 
Estimate of
Zero Basis
Cash Flows
 
Total
Balance at December 31, 2014
$
2,993,321

 
$
66,392

 
$
3,059,713

Revenue recognized, net
(248,539
)
 
(15,571
)
 
(264,110
)
Net additions on existing portfolios
228,560

 
39,661

 
268,221

Additions for current purchases, net
85,907

 
—

 
85,907

Effect of foreign currency translation
(108,046
)
 
(54
)
 
(108,100
)
Balance at March 31, 2015
2,951,203

 
90,428

 
3,041,631

Revenue recognized, net
(243,425
)
 
(26,876
)
 
(270,301
)
Net additions on existing portfolios
(40,337
)
 
74,587

 
34,250

Additions for current purchases, net
395,009

 
—

 
395,009

Effect of foreign currency translation
131,654

 
(1
)
 
131,653

Balance at June 30, 2015
$
3,194,104

 
$
138,138

 
$
3,332,242
Summary of Changes in Balance of the Investment in Receivable Portfolios
The following tables summarize the changes in the balance of the investment in receivable portfolios during the following periods (in thousands, except percentages):
 
Three Months Ended June 30, 2016
 
Accrual Basis
Portfolios
 
Cost Recovery
Portfolios
 
Zero Basis
Portfolios
 
Total
Balance, beginning of period
$
2,482,855

 
$
4,123

 
$
—

 
$
2,486,978

Purchases of receivable portfolios
233,116

 
—

 
—

 
233,116

Transfer of portfolios
(96
)
 
96

 
—

 
—

Gross collections(1)
(399,498
)
 
(724
)
 
(33,878
)
 
(434,100
)
Put-backs and Recalls(2)
(3,692
)
 
(5
)
 
140

 
(3,557
)
Foreign currency adjustments
(80,432
)
 
136

 
—

 
(80,296
)
Revenue recognized
233,010

 
—

 
31,963

 
264,973

Portfolio allowance reversals, net
704

 
—

 
1,775

 
2,479

Balance, end of period
$
2,465,967

 
$
3,626

 
$
—

 
$
2,469,593

Revenue as a percentage of collections(3)
58.3
%
 
0.0
%
 
94.3
%
 
61.0
%
 
 
 
 
 
 
 
 
 
Three Months Ended June 30, 2015
 
Accrual Basis
Portfolios
 
Cost Recovery
Portfolios
 
Zero Basis
Portfolios
 
Total
Balance, beginning of period
$
2,029,335

 
$
9,072

 
$
—

 
$
2,038,407

Purchases of receivable portfolios
418,780

 
—

 
—

 
418,780

Gross collections(1)
(409,339
)
 
(1,253
)
 
(26,732
)
 
(437,324
)
Put-backs and Recalls(2)
(1,458
)
 
(1
)
 
(164
)
 
(1,623
)
Foreign currency adjustments
63,121

 
85

 
20

 
63,226

Revenue recognized
242,618

 
—

 
23,323

 
265,941

Portfolio allowance reversals, net
807

 
—

 
3,553

 
4,360

Balance, end of period
$
2,343,864

 
$
7,903

 
$
—

 
$
2,351,767

Revenue as a percentage of collections(3)
59.3
%
 
0.0
%
 
87.2
%
 
60.8
%
________________________
(1)
Does not include amounts collected on behalf of others.
(2)
Put-backs represent accounts that are returned to the seller in accordance with the respective purchase agreement (“Put-Backs”). Recalls represent accounts that are recalled by the seller in accordance with the respective purchase agreement (“Recalls”).
(3)
Revenue as a percentage of collections excludes the effects of net portfolio allowances or net portfolio allowance reversals.
 
Six Months Ended June 30, 2016
 
Accrual Basis
Portfolios
 
Cost Recovery
Portfolios
 
Zero Basis
Portfolios
 
Total
Balance, beginning of period
$
2,436,054

 
$
4,615

 
$
—

 
$
2,440,669

Purchases of receivable portfolios
489,869

 
—

 
—

 
489,869

Transfer of portfolios
(96
)
 
96

 
—

 
—

Gross collections(1)
(815,225
)
 
(1,357
)
 
(65,323
)
 
(881,905
)
Put-backs and Recalls(2)
(16,577
)
 
(11
)
 
38

 
(16,550
)
Foreign currency adjustments
(100,319
)
 
283

 
—

 
(100,036
)
Revenue recognized
471,088

 
—

 
61,788

 
532,876

Portfolio allowance reversals, net
1,173

 
—

 
3,497

 
4,670

Balance, end of period
$
2,465,967

 
$
3,626

 
$
—

 
$
2,469,593

Revenue as a percentage of collections(3)
57.8
%
 
0.0
%
 
94.6
%
 
60.4
%
 
 
 
 
 
 
 
 
 
Six Months Ended June 30, 2015
 
Accrual Basis
Portfolios
 
Cost Recovery
Portfolios
 
Zero Basis
Portfolios
 
Total
Balance, beginning of period
$
2,131,084

 
$
12,476

 
$
—

 
$
2,143,560

Purchases of receivable portfolios
543,934

 
—

 
—

 
543,934

Gross collections(1)
(816,895
)
 
(3,225
)
 
(42,275
)
 
(862,395
)
Put-backs and Recalls(2)
(3,975
)
 
(19
)
 
(192
)
 
(4,186
)
Foreign currency adjustments
(2,248
)
 
(1,329
)
 
20

 
(3,557
)
Revenue recognized
491,157

 
—

 
36,035

 
527,192

Portfolio allowance reversals, net
807

 
—

 
6,412

 
7,219

Balance, end of period
$
2,343,864

 
$
7,903

 
$
—

 
$
2,351,767

Revenue as a percentage of collections(3)
60.1
%
 
0.0
%
 
85.2
%
 
61.1
%
________________________
(1)
Does not include amounts collected on behalf of others.
(2)
Put-backs represent accounts that are returned to the seller in accordance with the respective purchase agreement. Recalls represent accounts that are recalled by the seller in accordance with the respective purchase agreement.
(3)
Revenue as a percentage of collections excludes the effects of net portfolio allowances or net portfolio allowance reversals.
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
 
Three Months Ended June 30,
 
Six Months Ended June 30,
 
2016
 
2015
 
2016
 
2015
Balance at beginning of period
$
58,397

 
$
72,814

 
$
60,588

 
$
75,673

Reversal of prior allowances
(2,479
)
 
(4,360
)
 
(4,670
)
 
(7,219
)
Balance at end of period
$
55,918

 
$
68,454

 
$
55,918

 
$
68,454