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Investment in Receivable Portfolios, Net (Tables)
 12 Months Ended
Dec. 31, 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, 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

Revenue recognized, net
(943,533
)
 
(151,076
)
 
(1,094,609
)
Net additions on existing portfolios
365,357

 
155,160

 
520,517

Additions for current purchases, net
1,019,856

 
—

 
1,019,856

Effect of foreign currency translation
161,385

 
44

 
161,429

Balance at December 31, 2017
$
3,695,069

 
$
369,632

 
$
4,064,701
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, 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
)
Gross collections(1)
(1,613,351
)
 
(3,511
)
 
(150,782
)
 
(1,767,644
)
Put-backs and Recalls(2)
(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(3)
56.4
%
 
0.0
%
 
95.6
%
 
59.6
%
 
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
%
________________________
(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, 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
)
Effect of foreign currency translation
(7,728
)
Balance at December 31, 2016
137,037

Provision for portfolio allowances
12,047

Reversal of prior allowances
(53,283
)
Effect of foreign currency translation
6,775

Balance at December 31, 2017
$
102,576