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Investment in Receivable Portfolios, Net (Tables) | 6 Months Ended
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Jun. 30, 2018
Receivables [Abstract] |
Schedule 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, 2017 | $ | 3,695,069 |  |  | $ | 369,632 |  |  | $ | 4,064,701 |
Revenue from receivable portfolios | (249,821 | ) |  | (31,188 | ) |  | (281,009 | )
Allowance reversals on receivable portfolios, net | (8,082 | ) |  | (1,729 | ) |  | (9,811 | )
Reductions on existing portfolios, net | (24,945 | ) |  | (39,529 | ) |  | (64,474 | )
Additions for current purchases | 285,172 |  |  | — |  |  | 285,172 |
Effect of foreign currency translation | 57,577 |  |  | 643 |  |  | 58,220 |
Balance at March 31, 2018 | 3,754,970 |  |  | 297,829 |  |  | 4,052,799 |
Revenue from receivable portfolios | (258,698 | ) |  | (33,964 | ) |  | (292,662 | )
Allowance reversals on receivable portfolios, net | (15,411 | ) |  | (2,221 | ) |  | (17,632 | )
Additions on existing portfolios, net | 136,267 |  |  | 5,824 |  |  | 142,091 |
Additions for current purchases | 345,006 |  |  | — |  |  | 345,006 |
Effect of foreign currency translation | (97,448 | ) |  | (597 | ) |  | (98,045 | )
Balance at June 30, 2018 | $ | 3,864,686 |  |  | $ | 266,871 |  |  | $ | 4,131,557 |
| Accretable Yield |  | Estimate of Zero Basis Cash Flows |  | Total
Balance at December 31, 2016 | $ | 3,092,004 |  |  | $ | 365,504 |  |  | $ | 3,457,508 |
Revenue from receivable portfolios | (211,105 | ) |  | (38,733 | ) |  | (249,838 | )
Allowance reversals on receivable portfolios, net | (613 | ) |  | (1,519 | ) |  | (2,132 | )
(Reductions) additions on existing portfolios, net | (90,138 | ) |  | 57,446 |  |  | (32,692 | )
Additions for current purchases | 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 from receivable portfolios | (224,310 | ) |  | (39,097 | ) |  | (263,407 | )
Allowance reversals on receivable portfolios, net | (7,121 | ) |  | (1,708 | ) |  | (8,829 | )
Additions on existing portfolios, net | 225,021 |  |  | 9,888 |  |  | 234,909 |
Additions for current purchases | 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 |
Schedule of 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, 2018
| Accrual Basis Portfolios |  | Cost Recovery Portfolios |  | Zero Basis Portfolios |  | Total
Balance, beginning of period | $ | 3,013,519 |  |  | $ | 10,622 |  |  | $ | — |  |  | $ | 3,024,141 |
Purchases of receivable portfolios | 359,580 |  |  | — |  |  | — |  |  | 359,580 |
Disposals or transfers to assets held for sale | (2,033 | ) |  | (262 | ) |  | — |  |  | (2,295 | )
Gross collections(1) | (460,478 | ) |  | (252 | ) |  | (35,363 | ) |  | (496,093 | )
Put-backs and Recalls(2) | (8,484 | ) |  | — |  |  | (24 | ) |  | (8,508 | )
Foreign currency adjustments | (101,921 | ) |  | (577 | ) |  | — |  |  | (102,498 | )
Revenue recognized | 258,698 |  |  | — |  |  | 33,964 |  |  | 292,662 |
Reclassification adjustments(3) | — |  |  | 798 |  |  | (798 | ) |  | — |
Portfolio allowance reversals, net | 15,411 |  |  | — |  |  | 2,221 |  |  | 17,632 |
Balance, end of period | $ | 3,074,292 |  |  | $ | 10,329 |  |  | $ | — |  |  | $ | 3,084,621 |
Revenue as a percentage of collections(4) | 56.2 | % |  | 0.0 | % |  | 96.0 | % |  | 59.0 | %
| 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 assets 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(4) | 55.4 | % |  | 0.0 | % |  | 95.8 | % |  | 59.0 | %
________________________
(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) | Reclassification relating to certain Zero Basis Revenue that was classified as collections in cost recovery portfolios in prior periods.
(4) | Revenue as a percentage of collections excludes the effects of net portfolio allowances or net portfolio allowance reversals.
| Six Months Ended June 30, 2018
| Accrual Basis Portfolios |  | Cost Recovery Portfolios |  | Zero Basis Portfolios |  | Total
Balance, beginning of period | $ | 2,879,170 |  |  | $ | 11,443 |  |  | $ | — |  |  | $ | 2,890,613 |
Purchases of receivable portfolios | 636,342 |  |  | — |  |  | — |  |  | 636,342 |
Disposals or transfers to held for sale | (5,105 | ) |  | (262 | ) |  | — |  |  | (5,367 | )
Gross collections(1) | (915,621 | ) |  | (1,423 | ) |  | (68,151 | ) |  | (985,195 | )
Put-backs and Recalls(2) | (12,175 | ) |  | — |  |  | (153 | ) |  | (12,328 | )
Foreign currency adjustments | (40,331 | ) |  | (227 | ) |  | — |  |  | (40,558 | )
Revenue recognized | 508,519 |  |  | — |  |  | 65,152 |  |  | 573,671 |
Reclassification adjustments(3) | — |  |  | 798 |  |  | (798 | ) |  | — |
Portfolio allowance reversals, net | 23,493 |  |  | — |  |  | 3,950 |  |  | 27,443 |
Balance, end of period | $ | 3,074,292 |  |  | $ | 10,329 |  |  | $ | — |  |  | $ | 3,084,621 |
Revenue as a percentage of collections(4) | 55.5 | % |  | 0.0 | % |  | 95.6 | % |  | 58.2 | %
| 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(4) | 54.1 | % |  | 0.0 | % |  | 96.1 | % |  | 57.9 | %
________________________
(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) | Reclassification relating to certain Zero Basis Revenue that was classified as collections in cost recovery portfolios in prior periods.
(4) | Revenue as a percentage of collections excludes the effects of net portfolio allowances or net portfolio allowance reversals.
Schedule of 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,
| 2018 |  | 2017 |  | 2018 |  | 2017
Balance at beginning of period | $ | 94,317 |  |  | $ | 136,325 |  |  | $ | 102,576 |  |  | $ | 137,037 |
Provision for portfolio allowances | 1,720 |  |  | 682 |  |  | 2,660 |  |  | 682 |
Reversal of prior allowances | (19,352 | ) |  | (9,511 | ) |  | (30,103 | ) |  | (11,643 | )
Effect of foreign currency translation | (1,556 | ) |  | 3,179 |  |  | (4 | ) |  | 4,599 |
Balance at end of period | $ | 75,129 |  |  | $ | 130,675 |  |  | $ | 75,129 |  |  | $ | 130,675 |

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