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Investment in Receivable Portfolios, Net (Tables) | 6 Months Ended
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Jun. 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 June 30, |  | Six Months Ended June 30, |  |
| 2022 |  | 2021 |  | 2022 |  | 2021 |  |  |  |
Balance, beginning of period | $ | 3,137,386 |  |  | $ | 3,225,678 |  |  | $ | 3,065,553 |  |  | $ | 3,291,918 |  |  |  |  |
Purchases of receivable portfolios (1) | 173,007 |  |  | 142,728 |  |  | 342,512 |  |  | 312,906 |  |  |  |  |
Collections applied to investment in receivable portfolios, net (2) | (191,429) |  |  | (284,277) |  |  | (406,738) |  |  | (552,720) |  |  |  |  |
Changes in recoveries (3) | 25,150 |  |  | 66,178 |  |  | 192,373 |  |  | 110,715 |  |  |  |  |
Put-backs and Recalls | (1,373) |  |  | (3,204) |  |  | (4,580) |  |  | (6,357) |  |  |  |  |
Disposals and transfers to assets held for sale | (1,856) |  |  | (2,647) |  |  | (3,832) |  |  | (4,312) |  |  |  |  |
Foreign currency adjustments | (105,762) |  |  | 9,545 |  |  | (150,165) |  |  | 1,851 |  |  |  |  |
Balance, end of period | $ | 3,035,123 |  |  | $ | 3,154,001 |  |  | $ | 3,035,123 |  |  | $ | 3,154,001 |  |  |  |  |
_______________________ (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 June 30, |  | Six Months Ended June 30,
| 2022 |  | 2021 |  | 2022 |  | 2021
Purchase price | $ | 173,007 |  |  | $ | 142,728 |  |  | $ | 342,512 |  |  | $ | 312,906 |
Allowance for credit losses | 768,932 |  |  | 350,537 |  |  | 1,119,118 |  |  | 725,112 |
Amortized cost | 941,939 |  |  | 493,265 |  |  | 1,461,630 |  |  | 1,038,018 |
Noncredit discount | 907,249 |  |  | 658,358 |  |  | 1,564,307 |  |  | 1,442,470 |
Face value | 1,849,188 |  |  | 1,151,623 |  |  | 3,025,937 |  |  | 2,480,488 |
Write-off of amortized cost | (941,939) |  |  | (493,265) |  |  | (1,461,630) |  |  | (1,038,018) |
Write-off of noncredit discount | (907,249) |  |  | (658,358) |  |  | (1,564,307) |  |  | (1,442,470) |
Negative allowance | 173,007 |  |  | 142,728 |  |  | 342,512 |  |  | 312,906 |
Negative allowance for expected recoveries - current period purchases | $ | 173,007 |  |  | $ | 142,728 |  |  | $ | 342,512 |  |  | $ | 312,906 |
(2)Collections applied to investment in receivable portfolios, net, is calculated as follows during the periods presented:
| Three Months Ended June 30, |  | Six Months Ended June 30,
| 2022 |  | 2021 |  | 2022 |  | 2021
Cash Collections | $ | 497,711 |  |  | $ | 612,427 |  |  | $ | 1,017,125 |  |  | $ | 1,218,888 |
Less - amounts classified to revenue from receivable portfolios | (306,282) |  |  | (328,150) |  |  | (610,387) |  |  | (666,168) |
Collections applied to investment in receivable portfolios, net | $ | 191,429 |  |  | $ | 284,277 |  |  | $ | 406,738 |  |  | $ | 552,720 |
(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 June 30, |  | Six Months Ended June 30,
| 2022 |  | 2021 |  | 2022 |  | 2021
Recoveries above forecast | $ | 9,935 |  |  | $ | 109,396 |  |  | $ | 56,287 |  |  | $ | 200,797 |
Changes in expected future recoveries | 15,215 |  |  | (43,218) |  |  | 136,086 |  |  | (90,082) |
Changes in recoveries | $ | 25,150 |  |  | $ | 66,178 |  |  | $ | 192,373 |  |  | $ | 110,715 |

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