Investment in Receivable Portfolios, Net (Tables)

6 Months Ended

Jun. 30, 2021

The table below provides the detail on the establishment of negative allowance for expected recoveries of portfolios purchased during the periods presented (in thousands):


	Three Months Ended June 30,				Six Months Ended June 30,
	2021		2020		2021		2020
Purchase price	$	142,728	$	147,939	$	312,906	$	362,052
Allowance for credit losses	350,537		371,424		725,112		892,618
Amortized cost	493,265		519,363		1,038,018		1,254,670
Noncredit discount	658,358		786,512		1,442,470		1,754,227
Face value	1,151,623		1,305,875		2,480,488		3,008,897
Write-off of amortized cost	(493,265)		(519,363)		(1,038,018)		(1,254,670)
Write-off of noncredit discount	(658,358)		(786,512)		(1,442,470)		(1,754,227)
Negative allowance	142,728		147,939		312,906		362,052
Negative allowance for expected recoveries - current period purchases	$	142,728	$	147,939	$	312,906	$	362,052

Schedule of Investment in Receivable Portfolios

The following table summarizes the changes in the balance of the investment in receivable portfolios during the periods presented (in thousands):


	Three Months Ended June 30,				Six Months Ended June 30,
	2021		2020		2021		2020
Balance, beginning of period	$	3,225,678	$	3,166,018	$	3,291,918	$	3,328,150
Purchases of receivable portfolios	142,728		147,939		312,906		362,052
Deconsolidation of receivable portfolios(1)	—		(2,822)		—		(2,822)
Put-backs and Recalls	(3,204)		(6,326)		(6,357)		(11,394)
Disposals and transfers to assets held for sale	(2,647)		(1,182)		(4,312)		(2,713)
Cash collections	(612,427)		(508,215)		(1,218,888)		(1,035,494)
Revenue from receivable portfolios	328,150		335,287		666,168		692,652
Changes in expected current period recoveries	109,396		108,572		200,797		118,887
Changes in expected future period recoveries	(43,218)		(42,565)		(90,082)		(151,541)
Foreign currency adjustments	9,545		4,535		1,851		(96,536)
Balance, end of period	$	3,154,001	$	3,201,241	$	3,154,001	$	3,201,241

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(1)Deconsolidation of receivable portfolios as a result of the Company’s divestiture of its investment in Brazil.