Investment in Receivable Portfolios, Net (Tables)

9 Months Ended

Sep. 30, 2022

Receivables [Abstract]

Schedule of Investment in Receivable Portfolios

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

	Three Months Ended September 30,				Nine Months Ended September 30,
	2022		2021		2022		2021
Balance, beginning of period	$	3,035,123	$	3,154,001	$	3,065,553	$	3,291,918
Purchases of receivable portfolios (1)	232,652		168,188		575,164		481,094
Collections applied to investment in receivable portfolios, net (2)	(161,037)		(250,465)		(567,775)		(803,185)
Changes in recoveries (3)	(13,080)		65,913		179,293		176,628
Put-backs and Recalls	(1,552)		(1,724)		(6,132)		(8,081)
Deconsolidation of receivable portfolios	—		(7,335)		—		(7,335)
Disposals and transfers to assets held for sale	(3,035)		(1,816)		(6,867)		(6,128)
Foreign currency translation adjustments	(112,869)		(43,491)		(263,034)		(41,640)
Balance, end of period	$	2,976,202	$	3,083,271	$	2,976,202	$	3,083,271

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

	Three Months Ended September 30,				Nine Months Ended September 30,
	2022		2021		2022		2021
Purchase price	$	232,652	$	168,188	$	575,164	$	481,094
Allowance for credit losses	608,708		449,412		1,727,826		1,174,524
Amortized cost	841,360		617,600		2,302,990		1,655,618
Noncredit discount	834,468		786,194		2,398,775		2,228,664
Face value	1,675,828		1,403,794		4,701,765		3,884,282
Write-off of amortized cost	(841,360)		(617,600)		(2,302,990)		(1,655,618)
Write-off of noncredit discount	(834,468)		(786,194)		(2,398,775)		(2,228,664)
Negative allowance	232,652		168,188		575,164		481,094
Negative allowance for expected recoveries - current period purchases	$	232,652	$	168,188	$	575,164	$	481,094

(2)Collections applied to investment in receivable portfolios, net, is calculated as follows during the periods presented:

	Three Months Ended September 30,				Nine Months Ended September 30,
	2022		2021		2022		2021
Cash Collections	$	458,256	$	566,690	$	1,475,381	$	1,785,578
Less - amounts classified to revenue from receivable portfolios	(297,219)		(316,225)		(907,606)		(982,393)
Collections applied to investment in receivable portfolios, net	$	161,037	$	250,465	$	567,775	$	803,185

(3)Changes in recoveries is calculated as follows during the periods presented, where recoveries include cash collections, put-backs and recalls, and other cash-based adjustments:

	Three Months Ended September 30,				Nine Months Ended September 30,
	2022		2021		2022		2021
Recoveries (below) above forecast	$	(4,880)	$	77,064	$	51,407	$	277,861
Changes in expected future recoveries	(8,200)		(11,151)		127,886		(101,233)
Changes in recoveries	$	(13,080)	$	65,913	$	179,293	$	176,628