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Derivative Instruments (Tables) | 3 Months Ended
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Mar. 31, 2023
Derivative Instruments and Hedging Activities Disclosure [Abstract] |
Notional Amount of Derivatives and Other Financial Instruments | The following presents the notional amount of derivatives and other financial instruments as of the dates indicated (in thousands):
|  | March 31, 2023 |  | December 31, 2022
Derivatives designated as net investment hedges: |  |  |  |
Denominated in Canadian Dollars |  | $ | 1,075,000 |  |  | $ | 1,075,000 |
Denominated in Pound Sterling |  | £ | 1,890,708 |  |  | £ | 1,890,708 |
Financial instruments designated as net investment hedges: |  |  |  |
Denominated in Canadian Dollars |  | $ | 250,000 |  |  | $ | 250,000 |
Denominated in Pound Sterling |  | £ | 1,050,000 |  |  | £ | 1,050,000 |
Interest rate swaps designated as cash flow hedges: |  |  |  |
Denominated in U.S Dollars (1) |  | $ | 375,000 |  |  | $ | 25,000 |
Interest rate swaps designated as fair value hedges: |  |  |  |
Denominated in U.S Dollars |  | $ | 550,000 |  |  | $ | 550,000 |
Derivative instruments not designated: |  |  |  |
Interest rate caps denominated in U.S. Dollars |  | $ | 26,137 |  |  | $ | 26,137 |
Foreign currency exchange contracts denominated in Canadian Dollars |  | $ | 80,000 |  |  | $ | 80,000 |
(1) At March 31, 2023 the maximum maturity date was March 31, 2024.
Impact of Derivative Instruments on the Consolidated Statements of Comprehensive Income | The following presents the impact of derivative instruments on the Consolidated Statements of Comprehensive Income for the periods presented (in thousands):
|  |  |  | Three Months Ended March 31, |  |
Description |  | Location |  | 2023 |  | 2022 |  |  |  |
Gain (loss) on derivative instruments designated as hedges recognized in income |  | Interest expense |  | $ | 4,619 |  |  | $ | 5,984 |  |  |  |  |
Gain (loss) on derivative instruments not designated as hedges recognized in income |  | Interest expense |  | $ | (254) |  |  | $ | (693) |  |  |  |  |
Gain (loss) on equity warrants recognized in income |  | Gain (loss) on derivatives and financial instruments |  | $ | (885) |  |  | $ | (2,423) |  |  |  |  |
Gain (loss) on derivative and financial instruments designated as hedges recognized in OCI |  | OCI |  | $ | (69,738) |  |  | $ | 51,940 |  |  |  |  |

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- Definition Tabular disclosure of the location and amount of derivative instruments and nonderivative instruments designated as hedging instruments reported before netting adjustments, and the amount of gain (loss) on derivative instruments and nonderivative instruments designated and qualified as hedging instruments. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4E -URI https://asc.fasb.org/extlink&oid=125515794&loc=SL5624181-113959 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4A -Subparagraph (b) -URI https://asc.fasb.org/extlink&oid=125515794&loc=SL5618551-113959 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4C -URI https://asc.fasb.org/extlink&oid=125515794&loc=SL5624171-113959 + Details
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- Definition Tabular disclosure of pertinent information about a derivative or group of derivatives on a disaggregated basis, such as for individual instruments, or small groups of similar instruments. May include a combination of the type of instrument, risks being hedged, notional amount, hedge designation, related hedged item, inception date, maturity date, or other relevant item. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4B -URI https://asc.fasb.org/extlink&oid=125515794&loc=SL5624163-113959 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 1B -URI https://asc.fasb.org/extlink&oid=125515794&loc=SL5580258-113959 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 2 -URI https://asc.fasb.org/extlink&oid=125515794&loc=d3e41620-113959 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 1A -URI https://asc.fasb.org/extlink&oid=125515794&loc=SL5579245-113959 Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4 -URI https://asc.fasb.org/extlink&oid=125515794&loc=d3e41638-113959 Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 8 -URI https://asc.fasb.org/extlink&oid=125515794&loc=d3e41678-113959 Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 5 -URI https://asc.fasb.org/extlink&oid=125515794&loc=d3e41641-113959 Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4C -URI https://asc.fasb.org/extlink&oid=125515794&loc=SL5624171-113959 Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 1 -URI https://asc.fasb.org/extlink&oid=125515794&loc=SL5579240-113959 + Details
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