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Investment in Receivable Portfolios, Net (Tables)
 6 Months Ended
Jun. 30, 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, 2016
$
3,092,004

 
$
365,504

 
$
3,457,508

Revenue recognized, net
(211,718
)
 
(40,252
)
 
(251,970
)
(Reductions) additions on existing portfolios, net
(90,138
)
 
57,446

 
(32,692
)
Additions for current purchases, net
200,728

 
—

 
200,728

Effect of foreign currency translation
38,712

 
467

 
39,179

Balance at March 31, 2017
3,029,588

 
383,165

 
3,412,753

Revenue recognized, net
(231,431
)
 
(40,805
)
 
(272,236
)
Net additions on existing portfolios
225,021

 
9,888

 
234,909

Additions for current purchases, net
258,687

 
—

 
258,687

Effect of foreign currency translation
66,927

 
(753
)
 
66,174

Balance at June 30, 2017
$
3,348,792

 
$
351,495

 
$
3,700,287

 
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
(238,547
)
 
(31,547
)
 
(270,094
)
Net additions on existing portfolios
39,538

 
8,071

 
47,609

Additions for current purchases, net
193,654

 
—

 
193,654

Effect of foreign currency translation
(64,330
)
 
470

 
(63,860
)
Balance at March 31, 2016
2,977,955

 
200,025

 
3,177,980

Revenue recognized, net
(233,714
)
 
(33,738
)
 
(267,452
)
Net additions on existing portfolios
59,459

 
95,135

 
154,594

Additions for current purchases, net
183,217

 
—

 
183,217

Effect of foreign currency translation
(181,223
)
 
245

 
(180,978
)
Balance at June 30, 2016
$
2,805,694

 
$
261,667

 
$
3,067,361
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):
 
Three Months Ended June 30, 2017
 
Accrual Basis
Portfolios
 
Cost Recovery
Portfolios
 
Zero Basis
Portfolios
 
Total
Balance, beginning of period
$
2,422,299

 
$
13,719

 
$
—

 
$
2,436,018

Purchases of receivable portfolios
245,246

 
1,169

 
—

 
246,415

Disposals or transfers to held for sale
(2,697
)
 
—

 
—

 
(2,697
)
Gross collections(1)
(404,918
)
 
(459
)
 
(40,805
)
 
(446,182
)
Put-backs and Recalls(2)
(3,237
)
 
—

 
—

 
(3,237
)
Foreign currency adjustments
53,466

 
(94
)
 
—

 
53,372

Revenue recognized
224,310

 
—

 
39,097

 
263,407

Portfolio allowance reversals, net
7,121

 
—

 
1,708

 
8,829

Balance, end of period
$
2,541,590

 
$
14,335

 
$
—

 
$
2,555,925

Revenue as a percentage of collections(3)
55.4
%
 
0.0
%
 
95.8
%
 
59.0
%
 
 
 
 
 
 
 
 
 
Three Months Ended June 30, 2016
 
Accrual Basis
Portfolios
 
Cost Recovery
Portfolios
 
Zero Basis
Portfolios
 
Total
Balance, beginning of period
$
2,482,855

 
$
4,123

 
$
—

 
$
2,486,978

Purchases of receivable portfolios
233,116

 
—

 
—

 
233,116

Transfer of portfolios
(96
)
 
96

 
—

 
—

Disposals or transfers to held for sale
—

 
—

 
—

 
—

Gross collections(1)
(399,498
)
 
(724
)
 
(33,878
)
 
(434,100
)
Put-backs and Recalls(2)
(3,692
)
 
(5
)
 
140

 
(3,557
)
Foreign currency adjustments
(80,432
)
 
136

 
—

 
(80,296
)
Revenue recognized
233,010

 
—

 
31,963

 
264,973

Portfolio allowance reversals, net
704

 
—

 
1,775

 
2,479

Balance, end of period
$
2,465,967

 
$
3,626

 
$
—

 
$
2,469,593

Revenue as a percentage of collections(3)
58.3
%
 
0.0
%
 
94.3
%
 
61.0
%
________________________
(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.

 
Six Months Ended June 30, 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
463,973

 
1,169

 
—

 
465,142

Disposals or transfers to held for sale
(7,468
)
 
—

 
—

 
(7,468
)
Gross collections(1)
(804,922
)
 
(1,099
)
 
(81,024
)
 
(887,045
)
Put-backs and Recalls(2)
(4,994
)
 
—

 
(33
)
 
(5,027
)
Foreign currency adjustments
83,486

 
(178
)
 
—

 
83,308

Revenue recognized
435,415

 
—

 
77,830

 
513,245

Portfolio allowance reversals, net
7,734

 
—

 
3,227

 
10,961

Balance, end of period
$
2,541,590

 
$
14,335

 
$
—

 
$
2,555,925

Revenue as a percentage of collections(3)
54.1
%
 
0.0
%
 
96.1
%
 
57.9
%
 
 
 
 
 
 
 
 
 
Six Months Ended June 30, 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
489,869

 
—

 
—

 
489,869

Gross collections(1)
(815,225
)
 
(1,357
)
 
(65,323
)
 
(881,905
)
Put-backs and Recalls(2)
(16,577
)
 
(11
)
 
38

 
(16,550
)
Foreign currency adjustments
(100,319
)
 
283

 
—

 
(100,036
)
Revenue recognized
471,088

 
—

 
61,788

 
532,876

Portfolio allowance reversals, net
1,173

 
—

 
3,497

 
4,670

Balance, end of period
$
2,465,967

 
$
3,626

 
$
—

 
$
2,469,593

Revenue as a percentage of collections(3)
57.8
%
 
0.0
%
 
94.6
%
 
60.4
%
________________________
(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
 
Three Months Ended June 30,
 
Six Months Ended June 30,
 
2017
 
2016
 
2017
 
2016
Balance at beginning of period
$
136,325

 
$
58,397

 
$
137,037

 
$
60,588

Provision for portfolio allowances
682

 
—

 
682

 
—

Reversal of prior allowances
(9,511
)
 
(2,479
)
 
(11,643
)
 
(4,670
)
Effect of foreign currency translation
3,179

 
—

 
4,599

 
—

Balance at end of period
$
130,675

 
$
55,918

 
$
130,675

 
$
55,918