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Derivative Instruments and Hedging Activities (Tables) | 9 Months Ended
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Sep. 30, 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 September 30, 2023 and December 31, 2022, by derivative instrument, are as follows:
|  | SEPTEMBER 30, 2023 |  | DECEMBER 31, 2022
DERIVATIVE INSTRUMENTS(1) |  | Assets |  | Liabilities |  | Assets |  | Liabilities
Cash Flow Hedges(2) |  |  |  |  |  |  |  |
Interest rate swap agreements |  | $ | 11,519 |  |  | $ | 38 |  |  | $ | 12,995 |  |  | $ | 489 |
Net Investment Hedges(3) |  |  |  |  |  |  |  |
Cross-currency swap agreements |  | 27,959 |  |  | — |  |  | 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 September 30, 2023, $3,938 is included within Prepaid expenses and other, $35,540 is included within Other assets and $38 is included with 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 September 30, 2023, cumulative net gains recorded within Accumulated other comprehensive items, net associated with our interest rate swap agreements are $18,090, which include $5,054 related to our terminated interest rate swap agreements. (3)As of September 30, 2023, cumulative net gains recorded within Accumulated other comprehensive items, net associated with our cross-currency swap agreements are $53,980, which include $26,021 related to the excluded component of our cross-currency swap agreements.
Schedule of (Losses) Gains for Derivative Instruments | Unrealized gains (losses) recognized in Accumulated other comprehensive income during the three and nine months ended September 30, 2023 and 2022, by derivative instrument, are as follows:
|  | THREE MONTHS ENDED SEPTEMBER 30, |  | NINE MONTHS ENDED SEPTEMBER 30,
DERIVATIVE INSTRUMENTS |  | 2023 |  | 2022 |  | 2023 |  | 2022
Cash Flow Hedges |  |  |  |  |  |  |  |
Interest rate swap agreements |  | $ | 6,184 |  |  | $ | 5,157 |  |  | $ | 10,638 |  |  | $ | 20,559 |
Net Investment Hedges |  |  |  |  |  |  |  |
Cross-currency swap agreements |  | 5,822 |  |  | 27,076 |  |  | (15,685) |  |  | 62,651 |
Cross-currency swap agreements (excluded component) |  | 5,270 |  |  | — |  |  | 16,921 |  |  | — |
Gains (losses) recognized in Net income during the three and nine months ended September 30, 2023 and 2022, by derivative instrument, are as follows:
|  |  | THREE MONTHS ENDED SEPTEMBER 30, |  | NINE MONTHS ENDED SEPTEMBER 30,
DERIVATIVE INSTRUMENTS | Location of gain (loss) |  | 2023 |  | 2022 |  | 2023 |  | 2022
Cash Flow Hedges |  |  |  |  |  |  |  |  |
Interest rate swap agreements | Interest expense |  | $ | 2,527 |  |  | $ | — |  |  | $ | 5,054 |  |  | $ | — |
Net Investment Hedges |  |  |  |  |  |  |  |  |
Cross-currency swap agreements (excluded component) | Interest expense |  | (5,270) |  |  | — |  |  | (16,921) |  |  | — |

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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 -Topic 815 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 4E -Publisher FASB -URI https://asc.fasb.org//1943274/2147480434/815-10-50-4E Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4C -Publisher FASB -URI https://asc.fasb.org//1943274/2147480434/815-10-50-4C Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4A -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480434/815-10-50-4A + 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 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -SubTopic 10 -Topic 815 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480434/815-10-50-2 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 1A -Publisher FASB -URI https://asc.fasb.org//1943274/2147480434/815-10-50-1A Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 1B -Publisher FASB -URI https://asc.fasb.org//1943274/2147480434/815-10-50-1B Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 8 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480434/815-10-50-8 Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4B -Publisher FASB -URI https://asc.fasb.org//1943274/2147480434/815-10-50-4B Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 1 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480434/815-10-50-1 Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480434/815-10-50-4 Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 5 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480434/815-10-50-5 Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4C -Publisher FASB -URI https://asc.fasb.org//1943274/2147480434/815-10-50-4C + Details
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