v3.26.1
Receivable Portfolios, Net (Tables)
 6 Months Ended
Jun. 30, 2026
Receivables [Abstract]  
Schedule of Accounts, Notes, Loans and Financing Receivable
Receivable portfolios, net consists of the following as of the dates presented (in thousands):
June 30, 2026December 31, 2025
Amortized cost$— $— 
Negative allowance for expected recoveries
4,609,705 4,371,532 
Balance, end of period$4,609,705 $4,371,532 
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
June 30,		Six Months Ended
June 30,
2026202520262025
Balance, beginning of period$4,437,415 $3,952,531 $4,371,532 $3,776,369 
Negative allowance for expected recoveries - portfolio purchases(1)
443,815 367,099 806,656 734,950 
Collections applied to receivable portfolios, net(2)
(336,622)(293,811)(665,017)(553,400)
Changes in recoveries(3)
71,115 55,599 133,855 77,063 
Put-backs and recalls
(2,977)(4,420)(6,355)(9,559)
Disposals and transfers to real estate owned(848)(971)(1,868)(2,011)
Foreign currency translation adjustments(2,193)108,753 (29,098)161,368 
Balance, end of period$4,609,705 $4,184,780 $4,609,705 $4,184,780 
_______________________
(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,
2026202520262025
Purchase price$443,815 $367,099 $806,656 $734,950 
Allowance for credit losses2,051,335 1,125,478 3,002,979 2,080,137 
Amortized cost2,495,150 1,492,577 3,809,635 2,815,087 
Noncredit discount3,222,177 1,942,657 4,977,999 3,601,923 
Face value5,717,327 3,435,234 8,787,634 6,417,010 
Write-off of amortized cost(2,495,150)(1,492,577)(3,809,635)(2,815,087)
Write-off of noncredit discount(3,222,177)(1,942,657)(4,977,999)(3,601,923)
Negative allowance443,815 367,099 806,656 734,950 
Negative allowance for expected recoveries - portfolio purchases
$443,815 $367,099 $806,656 $734,950 
(2)Collections applied to receivable portfolios, net, is calculated as follows during the periods presented:
Three Months Ended
June 30,		Six Months Ended
June 30,
2026202520262025
Cash Collections$736,864 $654,985 $1,455,278 $1,259,792 
Less - amounts classified to portfolio revenue
(400,242)(361,174)(790,261)(706,392)
Collections applied to receivable portfolios, net
$336,622 $293,811 $665,017 $553,400 
(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,
2026202520262025
Recoveries above forecast
$53,113 $52,263 $99,157 $79,215 
Changes in expected future recoveries18,002 3,336 34,698 (2,152)
Changes in recoveries$71,115 $55,599 $133,855 $77,063