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Investment in Receivable Portfolios, Net (Tables) | 12 Months Ended
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Dec. 31, 2015
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, 2013 | $ | 2,391,471 |  |  | $ | 8,465 |  |  | $ | 2,399,936 |
Revenue recognized, net | (958,332 | ) |  | (34,500 | ) |  | (992,832 | )
Net additions on existing portfolios | 340,152 |  |  | 92,427 |  |  | 432,579 |
Additions for current purchases | 1,332,121 |  |  | — |  |  | 1,332,121 |
Effect of foreign currency translation | (112,091 | ) |  | — |  |  | (112,091 | )
Balance at December 31, 2014 | 2,993,321 |  |  | 66,392 |  |  | 3,059,713 |
Revenue recognized, net | (964,225 | ) |  | (108,211 | ) |  | (1,072,436 | )
Net additions on existing portfolios | 263,713 |  |  | 266,252 |  |  | 529,965 |
Additions for current purchases | 846,632 |  |  | — |  |  | 846,632 |
Effect of foreign currency translation | (91,801 | ) |  | (1,402 | ) |  | (93,203 | )
Balance at December 31, 2015 | $ | 3,047,640 |  |  | $ | 223,031 |  |  | $ | 3,270,671 |
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):
| Year Ended December 31, 2015
| Accrual Basis Portfolios |  | Cost Recovery Portfolios |  | Zero Basis Portfolios |  | Total
Balance, beginning of period | $ | 2,131,084 |  |  | $ | 12,476 |  |  | $ | — |  |  | $ | 2,143,560 |
Purchases of receivable portfolios | 1,023,722 |  |  | — |  |  | — |  |  | 1,023,722 |
Gross collections(1) | (1,587,525 | ) |  | (5,237 | ) |  | (107,963 | ) |  | (1,700,725 | )
Put-backs and Recalls(2) | (13,009 | ) |  | (20 | ) |  | (268 | ) |  | (13,297 | )
Foreign currency adjustments | (82,443 | ) |  | (2,604 | ) |  | 20 |  |  | (85,027 | )
Revenue recognized | 969,227 |  |  | — |  |  | 96,446 |  |  | 1,065,673 |
Portfolio (allowance) reversals, net | (5,002 | ) |  | — |  |  | 11,765 |  |  | 6,763 |
Balance, end of period | $ | 2,436,054 |  |  | $ | 4,615 |  |  | $ | — |  |  | $ | 2,440,669 |
Revenue as a percentage of collections(3) | 61.1 | % |  | 0.0 | % |  | 89.3 | % |  | 62.7 | %
| Year Ended December 31, 2014
| Accrual Basis Portfolios |  | Cost Recovery Portfolios |  | Zero Basis Portfolios |  | Total
Balance, beginning of period | $ | 1,585,587 |  |  | $ | 4,662 |  |  | $ | — |  |  | $ | 1,590,249 |
Purchases of receivable portfolios | 1,249,651 |  |  | 1,709 |  |  | — |  |  | 1,251,360 |
Transfer of portfolios | (18,682 | ) |  | 18,682 |  |  | — |  |  | — |
Gross collections(1) | (1,563,996 | ) |  | (9,010 | ) |  | (34,491 | ) |  | (1,607,497 | )
Put-backs and Recalls(2) | (15,162 | ) |  | (536 | ) |  | (9 | ) |  | (15,707 | )
Foreign currency adjustments | (64,646 | ) |  | (3,031 | ) |  | — |  |  | (67,677 | )
Revenue recognized | 953,154 |  |  | — |  |  | 22,271 |  |  | 975,425 |
Portfolio allowance reversals, net | 5,178 |  |  | — |  |  | 12,229 |  |  | 17,407 |
Balance, end of period | $ | 2,131,084 |  |  | $ | 12,476 |  |  | $ | — |  |  | $ | 2,143,560 |
Revenue as a percentage of collections(3) | 60.9 | % |  | 0.0 | % |  | 64.6 | % |  | 60.7 | %
| Year Ended December 31, 2013
| Accrual Basis Portfolios |  | Cost Recovery Portfolios |  | Zero Basis Portfolios |  | Total
Balance, beginning of period | $ | 873,119 |  |  | $ | — |  |  | $ | — |  |  | $ | 873,119 |
Purchases of receivable portfolios | 1,203,706 |  |  | 1,073 |  |  | — |  |  | 1,204,779 |
Transfer of portfolios | (6,649 | ) |  | 6,649 |  |  | — |  |  | — |
Gross collections(1) | (1,249,625 | ) |  | (2,764 | ) |  | (27,117 | ) |  | (1,279,506 | )
Put-backs and Recalls(2) | (2,331 | ) |  | (296 | ) |  | (2 | ) |  | (2,629 | )
Foreign currency adjustments | 49,634 |  |  | — |  |  | — |  |  | 49,634 |
Revenue recognized | 715,458 |  |  | — |  |  | 17,201 |  |  | 732,659 |
Portfolio allowance reversals, net | 2,275 |  |  | — |  |  | 9,918 |  |  | 12,193 |
Balance, end of period | $ | 1,585,587 |  |  | $ | 4,662 |  |  | $ | — |  |  | $ | 1,590,249 |
Revenue as a percentage of collections(3) | 57.3 | % |  | 0.0 | % |  | 63.4 | % |  | 57.3 | %
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(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
Balance at December 31, 2012 | $ | 105,273 |
Provision for portfolio allowances | 479 |
Reversal of prior allowances | (12,672 | )
Balance at December 31, 2013 | 93,080 |
Provision for portfolio allowances | — |
Reversal of prior allowances | (17,407 | )
Balance at December 31, 2014 | 75,673 |
Provision for portfolio allowances | 8,322 |
Reversal of prior allowances | (15,085 | )
Allowance charged off to investment in receivable portfolios | (8,322 | )
Balance at December 31, 2015 | $ | 60,588 |

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