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Investment in Receivable Portfolios, Net (Tables)
 12 Months Ended
Dec. 31, 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
Balance at December 31, 2014
$
2,993,321

 
$
66,392

 
$
3,059,713

Revenue recognized, net
(964,225
)
 
(108,211
)
 
(1,072,436
)
Net additions on existing portfolios
263,713

 
266,252

 
529,965

Additions for current purchases, net
846,632

 
—

 
846,632

Effect of foreign currency translation
(91,801
)
 
(1,402
)
 
(93,203
)
Balance at December 31, 2015
3,047,640

 
223,031

 
3,270,671

Revenue recognized, net
(801,736
)
 
(144,879
)
 
(946,615
)
Net additions on existing portfolios
441,632

 
287,116

 
728,748

Additions for current purchases, net
861,698

 
—

 
861,698

Effect of foreign currency translation
(457,230
)
 
236

 
(456,994
)
Balance at December 31, 2016
$
3,092,004

 
$
365,504

 
$
3,457,508
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):
 
Year Ended December 31, 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
906,719

 
—

 
—

 
906,719

Transfer of portfolios
(13,076
)
 
13,076

 
—

 
—

Gross collections(1)
(1,538,663
)
 
(2,102
)
 
(144,839
)
 
(1,685,604
)
Put-backs and Recalls(2)
(27,561
)
 
(1,019
)
 
(33
)
 
(28,613
)
Foreign currency adjustments
(196,842
)
 
(127
)
 
(8
)
 
(196,977
)
Revenue recognized
892,732

 
—

 
138,060

 
1,030,792

Portfolio (allowance) reversals, net
(90,997
)
 
—

 
6,820

 
(84,177
)
Balance, end of period
$
2,368,366

 
$
14,443

 
$
—

 
$
2,382,809

Revenue as a percentage of collections(3)
58.0
%
 
0.0
%
 
95.3
%
 
61.2
%
________________________
(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.

 
Year Ended December 31, 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
1,023,722

 
—

 
—

 
1,023,722

Gross collections(1)
(1,587,525
)
 
(5,237
)
 
(107,963
)
 
(1,700,725
)
Put-backs and Recalls(2)
(13,009
)
 
(20
)
 
(268
)
 
(13,297
)
Foreign currency adjustments
(82,443
)
 
(2,604
)
 
20

 
(85,027
)
Revenue recognized
969,227

 
—

 
96,446

 
1,065,673

Portfolio (allowance) reversals, net
(5,002
)
 
—

 
11,765

 
6,763

Balance, end of period
$
2,436,054

 
$
4,615

 
$
—

 
$
2,440,669

Revenue as a percentage of collections(3)
61.1
%
 
0.0
%
 
89.3
%
 
62.7
%
 
Year Ended December 31, 2014
 
Accrual Basis
Portfolios
 
Cost Recovery
Portfolios
 
Zero Basis
Portfolios
 
Total
Balance, beginning of period
$
1,585,587

 
$
4,662

 
$
—

 
$
1,590,249

Purchases of receivable portfolios
1,249,651

 
1,709

 
—

 
1,251,360

Transfer of portfolios
(18,682
)
 
18,682

 
—

 
—

Gross collections(1)
(1,563,996
)
 
(9,010
)
 
(34,491
)
 
(1,607,497
)
Put-backs and Recalls(2)
(15,164
)
 
(536
)
 
(9
)
 
(15,709
)
Foreign currency adjustments
(64,644
)
 
(3,031
)
 
—

 
(67,675
)
Revenue recognized
953,154

 
—

 
22,271

 
975,425

Portfolio allowance reversals, net
5,178

 
—

 
12,229

 
17,407

Balance, end of period
$
2,131,084

 
$
12,476

 
$
—

 
$
2,143,560

Revenue as a percentage of collections(3)
60.9
%
 
0.0
%
 
64.6
%
 
60.7
%
________________________
(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.
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, 2013
$
93,080

Reversal of prior allowances
(17,407
)
Balance at December 31, 2014
75,673

Provision for portfolio allowances
8,322

Reversal of prior allowances
(15,085
)
Allowance charged off to investment in receivable portfolios
(8,322
)
Balance at December 31, 2015
60,588

Provision for portfolio allowances
94,011

Reversal of prior allowances
(9,834
)
Balance at December 31, 2016
$
144,765