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Derivative Instruments and Hedging Activities (Tables)

12 Months Ended

Dec. 31, 2022

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of derivative instruments

Net assets (liabilities) recognized in our Consolidated Balance Sheets as of December 31, 2022 and 2021, by derivative instrument, are as follows:

DERIVATIVE INSTRUMENTS(1)						DECEMBER 31, 2022						DECEMBER 31, 2021
Cash Flow Hedges(2)
March 2024 Interest Rate Swap Agreements						$	12,915					$	(7,680)
October 2025 Interest Rate Swap Agreement						(409)						—
Net Investment Hedges(3)
August 2023 Cross Currency Swap Agreements						2,526						(664)
February 2026 Cross Currency Swap Agreements						35,875						11,021

(1)Our derivative assets are included as a component of (i) Prepaid expenses and other or (ii) Other within Other assets, net and our derivative liabilities are included as a component of (i) Accrued expenses and other current liabilities or (ii) Other long-term liabilities in our Consolidated Balance Sheets. As of December 31, 2022, $2,606 is included within Prepaid expenses and other, $48,790 is included within Other assets, and $489 is included within Other long-term liabilities. As of December 31, 2021, $11,021 is included within Other assets, $2,082 is included within Accrued expense and other current liabilities and $6,262 is included within Other long-term liabilities.

(2)As of December 31, 2022, cumulative net gains of $12,506 are recorded within Accumulated other comprehensive items, net associated with these interest rate swap agreements.

(3)As of December 31, 2022, cumulative net gains of $38,401 are recorded within Accumulated other comprehensive items, net associated with these cross-currency swap agreements. These cumulative net gains are offset by $9,100 related to the excluded component of our cross-currency swap agreements.

Schedule of gains (losses) for derivative instruments

Unrealized gains (losses), a component of Accumulated other comprehensive items, net, recognized during the years ending December 31, 2022, 2021 and 2020, by derivative instrument, are as follows:

						YEAR ENDED DECEMBER 31,
DERIVATIVE INSTRUMENTS						2022						2021						2020
Cash Flow Hedges
March 2024 Interest Rate Swap Agreements						$	20,595					$	13,382					$	(12,288)
October 2025 Interest Rate Swap Agreement						(409)						—						—
Net Investment Hedges
August 2023 Cross Currency Swap Agreements						3,190						7,565						(7,247)
February 2026 Cross Currency Swap Agreements						24,854						31,433						(20,412)

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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.

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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.

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