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Investment in Receivable Portfolios, Net (Tables)
 6 Months Ended
Jun. 30, 2019
Receivables [Abstract]  
Schedule 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, 2018
$
3,773,171

 
$
253,035

 
$
4,026,206

Revenue from receivable portfolios
(285,255
)
 
(25,903
)
 
(311,158
)
Allowance (reversals) on receivable portfolios, net
900

 
(2,267
)
 
(1,367
)
Additions (reductions) on existing portfolios, net
38,512

 
(199
)
 
38,313

Additions for current purchases
285,637

 
—

 
285,637

Effect of foreign currency translation
26,244

 
217

 
26,461

Balance at March 31, 2019
$
3,839,209

 
$
224,883

 
$
4,064,092

Revenue from receivable portfolios
(285,562
)
 
(26,933
)
 
(312,495
)
Allowance (reversals) on receivable portfolios, net
255

 
(2,318
)
 
(2,063
)
Additions (reductions) on existing portfolios, net
113,074

 
32,285

 
145,359

Additions for current purchases
277,556

 
—

 
277,556

Effect of foreign currency translation
(46,492
)
 
(34
)
 
(46,526
)
Balance at June 30, 2019
$
3,898,040

 
$
227,883

 
$
4,125,923

 
Accretable
Yield
 
Estimate of
Zero Basis
Cash Flows
 
Total
Balance at December 31, 2017
$
3,695,069

 
$
369,632

 
$
4,064,701

Revenue from receivable portfolios
(249,821
)
 
(31,188
)
 
(281,009
)
Allowance (reversals) on receivable portfolios, net
(8,082
)
 
(1,729
)
 
(9,811
)
Additions (reductions) on existing portfolios, net
(24,945
)
 
(39,529
)
 
(64,474
)
Additions for current purchases
285,172

 
—

 
285,172

Effect of foreign currency translation
57,577

 
643

 
58,220

Balance at March 31, 2018
$
3,754,970

 
$
297,829

 
$
4,052,799

Revenue from receivable portfolios
(258,698
)
 
(33,964
)
 
(292,662
)
Allowance (reversals) on receivable portfolios, net
(15,411
)
 
(2,221
)
 
(17,632
)
Additions (reductions) on existing portfolios, net
136,267

 
5,824

 
142,091

Additions for current purchases
345,006

 
—

 
345,006

Effect of foreign currency translation
(97,448
)
 
(597
)
 
(98,045
)
Balance at June 30, 2018
$
3,864,686

 
$
266,871

 
$
4,131,557
Schedule of 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, 2019
 
Accrual Basis
Portfolios
 
Cost Recovery
Portfolios
 
Zero Basis
Portfolios
 
Total
Balance, beginning of period
$
3,203,892

 
$
7,695

 
$
—

 
$
3,211,587

Purchases of receivable portfolios
242,697

 
—

 
—

 
242,697

Transfer of portfolios(4)
(78,980
)
 
78,980

 
—

 
—

Transfers to assets held for sale
(813
)
 
(1,514
)
 
—

 
(2,327
)
Collections on receivable portfolios (1)
(484,018
)
 
(1,615
)
 
(29,248
)
 
(514,881
)
Put-Backs and Recalls(2)
(1,392
)
 
—

 
(3
)
 
(1,395
)
Foreign currency adjustments
(26,756
)
 
1,085

 
—

 
(25,671
)
Revenue recognized
285,562

 
—

 
26,933

 
312,495

Portfolio (allowance) reversals, net
(255
)
 
—

 
2,318

 
2,063

Balance, end of period
$
3,139,937

 
$
84,631

 
$
—

 
$
3,224,568

Revenue as a percentage of collections(3)
59.0
%
 
0.0
%
 
92.1
%
 
60.7
%
 
Three Months Ended June 30, 2018
 
Accrual Basis
Portfolios
 
Cost Recovery
Portfolios
 
Zero Basis
Portfolios
 
Total
Balance, beginning of period
$
3,013,519

 
$
10,622

 
$
—

 
$
3,024,141

Purchases of receivable portfolios
359,580

 
—

 
—

 
359,580

Transfers to assets held for sale
(2,033
)
 
(262
)
 
—

 
(2,295
)
Collections on receivable portfolios (1)
(460,478
)
 
(252
)
 
(35,363
)
 
(496,093
)
Put-Backs and Recalls(2)
(8,484
)
 
—

 
(24
)
 
(8,508
)
Foreign currency adjustments
(101,921
)
 
(577
)
 
—

 
(102,498
)
Revenue recognized
258,698

 
—

 
33,964

 
292,662

Reclassification adjustment(5)
—

 
798

 
(798
)
 
—

Portfolio allowance reversals, net
15,411

 
—

 
2,221

 
17,632

Balance, end of period
$
3,074,292

 
$
10,329

 
$
—

 
$
3,084,621

Revenue as a percentage of collections(3)
56.2
%
 
0.0
%
 
96.0
%
 
59.0
%
________________________
(1)
Does not include amounts collected on behalf of others.
(2)
Put-backs (“Put-Backs”) and recalls (“Recalls”) represent ineligible accounts that are returned by us or recalled by the seller pursuant to specific guidelines as set forth in the respective purchase agreements.
(3)
Revenue as a percentage of collections excludes the effect of net portfolio allowances or net portfolio allowance reversals.
(4)
Represents all portfolios in Mexico, which were transferred from accrual basis portfolios to cost recovery portfolios as the timing of future collections were determined to not be currently reasonably estimable due to the changing political and economic conditions in Mexico.
(5)
Reclassification relating to certain Zero Basis Revenue that was classified as collections in cost recovery portfolios in prior periods.

 
Six Months Ended June 30, 2019
 
Accrual Basis
Portfolios
 
Cost Recovery
Portfolios
 
Zero Basis
Portfolios
 
Total
Balance, beginning of period
$
3,129,502

 
$
8,391

 
$
—

 
$
3,137,893

Purchases of receivable portfolios
505,032

 
—

 
—

 
505,032

Transfer of portfolios(5)
(78,980
)
 
78,980

 
—

 
—

Transfers to assets held for sale
(3,958
)
 
(1,958
)
 
—

 
(5,916
)
Collections on receivable portfolios (1)
(969,616
)
 
(1,706
)
 
(57,412
)
 
(1,028,734
)
Put-Backs and Recalls(2)
(5,086
)
 
—

 
(9
)
 
(5,095
)
Foreign currency adjustments
(6,619
)
 
924

 
—

 
(5,695
)
Revenue recognized
570,817

 
—

 
52,836

 
623,653

Portfolio (allowance) reversals, net
(1,155
)
 
—

 
4,585

 
3,430

Balance, end of period
$
3,139,937

 
$
84,631

 
$
—

 
$
3,224,568

Revenue as a percentage of collections(4)
58.9
%
 
0.0
%
 
92.0
%
 
60.6
%
 
Six Months Ended June 30, 2018
 
Accrual Basis
Portfolios
 
Cost Recovery
Portfolios
 
Zero Basis
Portfolios
 
Total
Balance, beginning of period
$
2,879,170

 
$
11,443

 
$
—

 
$
2,890,613

Purchases of receivable portfolios
636,342

 
—

 
—

 
636,342

Transfers to assets held for sale
(5,105
)
 
(262
)
 
—

 
(5,367
)
Collections on receivable portfolios (1)
(915,621
)
 
(1,423
)
 
(68,151
)
 
(985,195
)
Put-Backs and Recalls(2)
(12,175
)
 
—

 
(153
)
 
(12,328
)
Foreign currency adjustments
(40,331
)
 
(227
)
 
—

 
(40,558
)
Revenue recognized
508,519

 
—

 
65,152

 
573,671

Reclassification adjustment(3)
—

 
798

 
(798
)
 
—

Portfolio allowance reversals, net
23,493

 
—

 
3,950

 
27,443

Balance, end of period
$
3,074,292

 
$
10,329

 
$
—

 
$
3,084,621

Revenue as a percentage of collections(4)
55.5
%
 
0.0
%
 
95.6
%
 
58.2
%
________________________
(1)
Does not include amounts collected on behalf of others.
(2)
Put-backs (“Put-Backs”) and recalls (“Recalls”) represent ineligible accounts that are returned by us or recalled by the seller pursuant to specific guidelines as set forth in the respective purchase agreements.
(3)
Reclassification relating to certain Zero Basis Revenue that was classified as collections in cost recovery portfolios in prior periods.
(4)
Revenue as a percentage of collections excludes the effect of net portfolio allowances or net portfolio allowance reversals.
(5)
Represents all portfolios in Mexico, which were transferred from accrual basis portfolios to cost recovery portfolios as the timing of future collections were determined to not be currently reasonably estimable, due to the changing political and economic conditions in Mexico.
Schedule of 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,
 
2019
 
2018
 
2019
 
2018
Balance at beginning of period
$
59,428

 
$
94,317

 
$
60,631

 
$
102,576

Provision for portfolio allowances
1,089

 
1,720

 
3,715

 
2,660

Reversal of prior allowances
(3,152
)
 
(19,352
)
 
(7,145
)
 
(30,103
)
Effect of foreign currency translation
(161
)
 
(1,556
)
 
3

 
(4
)
Balance at end of period
$
57,204

 
$
75,129

 
$
57,204

 
$
75,129