v3.26.3
Receivable Portfolios, Net (Tables)
 9 Months Ended
Sep. 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):
September 30, 2026December 31, 2025
Amortized cost$— $— 
Negative allowance for expected recoveries
4,763,412 4,371,532 
Balance, end of period$4,763,412 $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
September 30,		Nine Months Ended
September 30,
2026202520262025
Balance, beginning of period$4,609,705 $4,184,780 $4,371,532 $3,776,369 
Negative allowance for expected recoveries - portfolio purchases(1)
389,655 346,069 1,196,311 1,081,019 
Collections applied to receivable portfolios, net(2)
(339,431)(292,892)(1,004,448)(846,292)
Changes in recoveries(3)
111,043 63,636 244,898 140,699 
Put-backs and recalls
(2,884)(5,237)(9,239)(14,796)
Disposals and transfers to real estate owned(749)(949)(2,617)(2,960)
Foreign currency translation adjustments(3,927)(25,391)(33,025)135,977 
Balance, end of period$4,763,412 $4,270,016 $4,763,412 $4,270,016 
_______________________
(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,
2026202520262025
Purchase price$389,655 $346,069 $1,196,311 $1,081,019 
Allowance for credit losses1,233,625 859,199 4,236,604 2,939,336 
Amortized cost1,623,280 1,205,268 5,432,915 4,020,355 
Noncredit discount2,137,180 1,562,698 7,115,179 5,164,621 
Face value3,760,460 2,767,966 12,548,094 9,184,976 
Write-off of amortized cost(1,623,280)(1,205,268)(5,432,915)(4,020,355)
Write-off of noncredit discount(2,137,180)(1,562,698)(7,115,179)(5,164,621)
Negative allowance389,655 346,069 1,196,311 1,081,019 
Negative allowance for expected recoveries - portfolio purchases
$389,655 $346,069 $1,196,311 $1,081,019 
(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,
2026202520262025
Cash Collections$753,845 $663,018 $2,209,123 $1,922,810 
Less - amounts classified to portfolio revenue
(414,414)(370,126)(1,204,675)(1,076,518)
Collections applied to receivable portfolios, net
$339,431 $292,892 $1,004,448 $846,292 
(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,
2026202520262025
Recoveries above forecast
$51,827 $61,459 $150,984 $140,674 
Changes in expected future recoveries59,216 2,177 93,914 25 
Changes in recoveries$111,043 $63,636 $244,898 $140,699