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Receivable Portfolios, Net (Tables)
 9 Months Ended
Sep. 30, 2025
Receivables [Abstract]  
Schedule of Accounts, Notes, Loans and Financing Receivable
Receivable portfolios, net consists of the following as of the dates presented (in thousands):
September 30, 2025December 31, 2024
Amortized cost$— $— 
Negative allowance for expected recoveries
4,270,016 3,776,369 
Balance, end of period$4,270,016 $3,776,369 
Schedule of Receivable Portfolios, Net
The following table summarizes the changes in the balance of receivable portfolios, net during the periods presented (in thousands):
Three Months Ended
September 30,		Nine Months Ended
September 30,
2025202420252024
Balance, beginning of period$4,184,780 $3,583,322 $3,776,369 $3,468,432 
Negative allowance for expected recoveries - portfolio purchases (1)
346,069 282,485 1,081,019 856,891 
Collections applied to receivable portfolios, net (2)
(292,892)(222,149)(846,292)(641,982)
Changes in recoveries (3)
63,636 12,675 140,699 6,020 
Put-backs and recalls
(5,237)(4,577)(14,796)(12,023)
Disposals and transfers to real estate owned(949)(7,055)(2,960)(10,153)
Foreign currency translation adjustments(25,391)74,559 135,977 52,075 
Balance, end of period$4,270,016 $3,719,260 $4,270,016 $3,719,260 
_______________________
(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,
2025202420252024
Purchase price$346,069 $282,485 $1,081,019 $856,891 
Allowance for credit losses859,199 667,584 2,939,336 1,961,740 
Amortized cost1,205,268 950,069 4,020,355 2,818,631 
Noncredit discount1,562,698 1,220,316 5,164,621 3,688,070 
Face value2,767,966 2,170,385 9,184,976 6,506,701 
Write-off of amortized cost(1,205,268)(950,069)(4,020,355)(2,818,631)
Write-off of noncredit discount(1,562,698)(1,220,316)(5,164,621)(3,688,070)
Negative allowance346,069 282,485 1,081,019 856,891 
Negative allowance for expected recoveries - portfolio purchases
$346,069 $282,485 $1,081,019 $856,891 
(2)Collections applied to receivable portfolios, net, is calculated as follows during the periods presented:
Three Months Ended
September 30,		Nine Months Ended
September 30,
2025202420252024
Cash Collections$663,018 $550,268 $1,922,810 $1,607,883 
Less - amounts classified to portfolio revenue
(370,126)(328,119)(1,076,518)(965,901)
Collections applied to receivable portfolios, net
$292,892 $222,149 $846,292 $641,982 
(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,
2025202420252024
Recoveries above forecast
$61,459 $22,962 $140,674 $51,258 
Changes in expected future recoveries2,177 (10,287)25 (45,238)
Changes in recoveries$63,636 $12,675 $140,699 $6,020