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Investment in Receivable Portfolios, Net (Tables)
 9 Months Ended
Sep. 30, 2017
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, 2016
$
3,092,004

 
$
365,504

 
$
3,457,508

Revenue recognized, net
(211,718
)
 
(40,252
)
 
(251,970
)
(Reductions) additions on existing portfolios, net
(90,138
)
 
57,446

 
(32,692
)
Additions for current purchases, net
200,728

 
—

 
200,728

Effect of foreign currency translation
38,712

 
467

 
39,179

Balance at March 31, 2017
3,029,588

 
383,165

 
3,412,753

Revenue recognized, net
(231,431
)
 
(40,805
)
 
(272,236
)
Net additions on existing portfolios
225,021

 
9,888

 
234,909

Additions for current purchases, net
258,687

 
—

 
258,687

Effect of foreign currency translation
66,927

 
(753
)
 
66,174

Balance at June 30, 2017
3,348,792

 
351,495

 
3,700,287

Revenue recognized, net
(248,220
)
 
(35,368
)
 
(283,588
)
Net additions on existing portfolios
27,162

 
1,539

 
28,701

Additions for current purchases, net
336,725

 
—

 
336,725

Effect of foreign currency translation
56,971

 
375

 
57,346

Balance at September 30, 2017
$
3,521,430

 
$
318,041

 
$
3,839,471

 
Accretable
Yield
 
Estimate of
Zero Basis
Cash Flows
 
Total
Balance at 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

Revenue recognized, net
(119,543
)
 
(39,991
)
 
(159,534
)
Net additions on existing portfolios
299,212

 
22,862

 
322,074

Additions for current purchases, net
180,079

 
—

 
180,079

Effect of foreign currency translation
(75,402
)
 
135

 
(75,267
)
Balance at September 30, 2016
$
3,090,040

 
$
244,673

 
$
3,334,713
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 September 30, 2017
 
Accrual Basis
Portfolios
 
Cost Recovery
Portfolios
 
Zero Basis
Portfolios
 
Total
Balance, beginning of period
$
2,541,590

 
$
14,335

 
$
—

 
$
2,555,925

Purchases of receivable portfolios
292,332

 
—

 
—

 
292,332

Disposals or transfers to held for sale
(3,536
)
 
(265
)
 
—

 
(3,801
)
Gross collections(1)
(407,435
)
 
(435
)
 
(35,126
)
 
(442,996
)
Put-backs and Recalls(2)
(407
)
 
—

 
(242
)
 
(649
)
Foreign currency adjustments
44,366

 
46

 
—

 
44,412

Revenue recognized
230,403

 
—

 
33,621

 
264,024

Portfolio allowance reversals, net
17,817

 
—

 
1,747

 
19,564

Balance, end of period
$
2,715,130

 
$
13,681

 
$
—

 
$
2,728,811

Revenue as a percentage of collections(3)
56.5
%
 
0.0
%
 
95.7
%
 
59.6
%
 
 
 
 
 
 
 
 
 
Three Months Ended September 30, 2016
 
Accrual Basis
Portfolios
 
Cost Recovery
Portfolios
 
Zero Basis
Portfolios
 
Total
Balance, beginning of period
$
2,465,967

 
$
3,626

 
$
—

 
$
2,469,593

Purchases of receivable portfolios
206,359

 
—

 
—

 
206,359

Gross collections(1)
(366,321
)
 
(706
)
 
(39,934
)
 
(406,961
)
Put-backs and Recalls(2)
(3,103
)
 
—

 
(57
)
 
(3,160
)
Foreign currency adjustments
(27,361
)
 
(173
)
 
—

 
(27,534
)
Revenue recognized
212,664

 
—

 
38,317

 
250,981

Portfolio (allowance) reversals, net
(93,121
)
 
—

 
1,674

 
(91,447
)
Balance, end of period
$
2,395,084

 
$
2,747

 
$
—

 
$
2,397,831

Revenue as a percentage of collections(3)
58.1
%
 
0.0
%
 
96.0
%
 
61.7
%
________________________
(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.

 
Nine Months Ended September 30, 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
756,305

 
1,169

 
—

 
757,474

Disposals or transfers to held for sale
(11,004
)
 
(265
)
 
—

 
(11,269
)
Gross collections(1)
(1,212,357
)
 
(1,534
)
 
(116,150
)
 
(1,330,041
)
Put-backs and Recalls(2)
(5,401
)
 
—

 
(275
)
 
(5,676
)
Foreign currency adjustments
127,852

 
(132
)
 
—

 
127,720

Revenue recognized
665,818

 
—

 
111,451

 
777,269

Portfolio allowance reversals, net
25,551

 
—

 
4,974

 
30,525

Balance, end of period
$
2,715,130

 
$
13,681

 
$
—

 
$
2,728,811

Revenue as a percentage of collections(3)
54.9
%
 
0.0
%
 
96.0
%
 
58.4
%
 
 
 
 
 
 
 
 
 
Nine Months Ended September 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
696,228

 
—

 
—

 
696,228

Transfer of portfolios
(96
)
 
96

 
—

 
—

Gross collections(1)
(1,181,546
)
 
(2,063
)
 
(105,257
)
 
(1,288,866
)
Put-backs and Recalls(2)
(19,680
)
 
(11
)
 
(19
)
 
(19,710
)
Foreign currency adjustments
(127,680
)
 
110

 
—

 
(127,570
)
Revenue recognized
683,752

 
—

 
100,105

 
783,857

Portfolio (allowance) reversals, net
(91,948
)
 
—

 
5,171

 
(86,777
)
Balance, end of period
$
2,395,084

 
$
2,747

 
$
—

 
$
2,397,831

Revenue as a percentage of collections(3)
57.9
%
 
0.0
%
 
95.1
%
 
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.
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 September 30,
 
Nine Months Ended September 30,
 
2017
 
2016
 
2017
 
2016
Balance at beginning of period
$
130,675

 
$
55,918

 
$
137,037

 
$
60,588

Provision for portfolio allowances
10,181

 
94,011

 
10,863

 
94,011

Reversal of prior allowances
(29,745
)
 
(2,564
)
 
(41,388
)
 
(7,234
)
Effect of foreign currency translation
1,759

 
(2,890
)
 
6,358

 
(2,890
)
Balance at end of period
$
112,870

 
$
144,475

 
$
112,870

 
$
144,475