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Derivative Instruments and Hedging Activities (Tables)
 3 Months Ended
Mar. 31, 2023
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of Derivative Instruments
The fair value of derivative instruments recognized in our Condensed Consolidated Balance Sheets at March 31, 2023 and December 31, 2022, by derivative instrument, are as follows:
MARCH 31, 2023DECEMBER 31, 2022
DERIVATIVE INSTRUMENTS(1)
AssetsLiabilitiesAssetsLiabilities
Cash Flow Hedges(2)
  
Interest rate swap agreements$10,215 $1,151 $12,995 $489 
Net Investment Hedges(3)
Cross-currency swap agreements31,890 2,292 38,401 — 
(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 Condensed Consolidated Balance Sheets. As of March 31, 2023, $11,538 is included within Prepaid expenses and other, $30,567 is included within Other assets, $2,292 is included within Accrued expense and other current liabilities and $1,151 is included within Other long-term liabilities. 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.
(2)As of March 31, 2023, cumulative net gains of $9,064 are recorded within Accumulated other comprehensive items, net associated with these interest rate swap agreements.
(3)As of March 31, 2023, cumulative net gains of $29,598 are recorded within Accumulated other comprehensive items, net associated with these cross-currency swap agreements. These cumulative net gains are offset by $14,934 related to the excluded component of our cross-currency swap agreements.
Schedule of (Losses) Gains for Derivative Instruments
Unrealized (losses) gains recognized in Accumulated other comprehensive income during the three months ended March 31, 2023 and 2022, by derivative instrument, are as follows:
THREE MONTHS ENDED MARCH 31,
DERIVATIVE INSTRUMENTS20232022
Cash Flow Hedges  
Interest rate swap agreements$(3,442)$11,470 
Net Investment Hedges
Cross-currency swap agreements(8,803)5,296 
Cross-currency swap agreements (excluded component)5,834 — 
(Losses) gains recognized in Net income during the three months ended March 31, 2023 and 2022, by derivative instrument, are as follows:
THREE MONTHS ENDED MARCH 31,
DERIVATIVE INSTRUMENTSLocation of (loss) gain20232022
Net Investment Hedges
Cross-currency swap agreements (excluded component)Interest expense$(5,834)$—