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Investment in Receivable Portfolios, Net (Tables)
 12 Months Ended
Dec. 31, 2020
Receivables [Abstract]  
Transition of Receivable Portfolios
The table below illustrates the Company’s transition approach for its investment in receivable portfolios as of January 1, 2020 (in thousands):
Amount
Investment in receivable portfolios prior to transition$3,283,984 
Initial transitioned deferred court costs44,166 
3,328,150 
Allowance for credit losses79,028,043 
Amortized cost82,356,193 
Noncredit discount132,533,142 
Face value214,889,335 
Write-off of amortized cost(82,356,193)
Write-off of noncredit discount(132,533,142)
Negative allowance3,328,150 
Initial negative allowance from transition$3,328,150 

The table below provides the detail on the establishment of negative allowance for expected recoveries of portfolios purchased during the periods presented (in thousands):
Year Ended
December 31, 2020
Purchase price$659,872 
Allowance for credit losses1,703,420 
Amortized cost2,363,292 
Noncredit discount3,464,670 
Face value5,827,962 
Write-off of amortized cost(2,363,292)
Write-off of noncredit discount(3,464,670)
Negative allowance659,872 
Negative allowance for expected recoveries - current period purchases$659,872 
Schedule Of Investment In Receivable Portfolios Table
The following tables summarize the changes in the balance of the investment in receivable portfolios during the periods presented (in thousands):
Year Ended December 31,
202020192018
Balance, beginning of period$3,328,150 $3,137,893 $2,890,613 
Purchases of receivable portfolios659,872 1,046,696 1,131,898 
Deconsolidation of receivable portfolios(1)
(2,822)(51,935)— 
Put-backs and Recalls(15,824)(11,591)(14,429)
Disposals and transfers to real estate owned(9,459)(11,495)(12,456)
Sale of receivable portfolios(2)
— (98,636)— 
Cash collections(2,111,848)(2,026,928)(1,967,620)
Revenue from receivable portfolios1,374,717 1,269,288 1,167,132 
Changes in expected current period recoveries228,075 — — 
Changes in expected future period recoveries(220,829)— — 
Portfolio (allowance) reversals, net— (8,108)41,473 
Foreign currency adjustments61,886 38,800 (98,718)
Balance, end of period$3,291,918 $3,283,984 $3,137,893 
________________________
(1)Deconsolidation of receivable portfolios as a result of the Company’s divestiture of its investment in Brazil for the year ended December 31, 2020 and as a result of the sale of Baycorp for the year ended December 31, 2019.
(2)Represents the sale of certain portfolios in the Company’s European operations under its co-investment framework.
Schedule Of Accretable Yield And Estimate Of Zero Basis Future Cash Flows Table The following table summarizes the change in accretable yield under the previous accounting guidance during the period presented (in thousands):
Balance as of December 31, 2018$4,026,206 
Revenue from receivable portfolios(1,269,288)
Allowance on receivable portfolios, net8,108 
Additions on existing portfolios, net524,964 
Additions for current purchases, net
1,081,774 
Effect of foreign currency translation
77,307 
Balance as of December 31, 2019$4,449,071 
Schedule of Valuation Allowance for Investment in Receivable Portfolios
The following table summarizes the change in the valuation allowance for investment in receivable portfolios as accounted for under the previous accounting guidance during the period presented (in thousands):
 Valuation Allowance
Balance as of December 31, 2017$102,576 
Provision for portfolio allowances14,421 
Reversal of prior allowances(55,894)
Effect of foreign currency translation(472)
Balance as of December 31, 201860,631 
Provision for portfolio allowances36,806 
Reversal of prior allowances(28,698)
Sale of Baycorp(1,036)
Effect of foreign currency translation1,776 
Balance as of December 31, 2019$69,479