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Derivative financial instruments (Tables) | 6 Months Ended
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Jun. 30, 2023
Derivative Instruments and Hedging Activities Disclosure [Abstract] |
Schedule of notional amounts and fair values of derivatives outstanding | The following tables present notional amounts and fair values of derivatives outstanding as of June 30, 2023 and December 31, 2022:
| June 30, 2023 |  | December 31, 2022
| Notional amount (a) |  | Fair value |  | Notional amount (a) |  | Fair value
Derivative assets not designated as accounting cash flow hedges: |  |  |  |  |  |  |
Interest rate contracts | $ | 1,575,000 |  |  | $ | 65,883 |  |  | $ | 1,727,500 |  |  | $ | 76,639 |
Derivative assets designated as accounting cash flow hedges: |  |  |  |  |  |  |
Interest rate contracts | $ | 4,475,000 |  |  | $ | 154,714 |  |  | $ | 3,641,000 |  |  | $ | 135,354 |
Total derivative assets |  |  | $ | 220,597 |  |  |  |  | $ | 211,993 |
(a)The notional amount is excluded for interest rate contracts which are not yet effective.
| June 30, 2023 |  | December 31, 2022
| Notional amount (a) |  | Fair value |  | Notional amount (a) |  | Fair value
Derivative liabilities designated as accounting cash flow hedges: |  |  |  |  |  |  |
Interest rate contracts | $ | 150,000 |  |  | $ | 417 |  |  | $ | — |  |  | $ | — |
Total derivative liabilities |  |  | $ | 417 |  |  |  |  | $ | — |
(a)The notional amount is excluded for interest rate contracts which are not yet effective.
Schedule of income (loss) recorded in comprehensive income | We recorded the following in other comprehensive gain or loss related to derivative financial instruments for the three and six months ended June 30, 2023 and 2022:
| Three Months Ended June 30, |  | Six Months Ended June 30,
| 2023 |  | 2022 |  | 2023 |  | 2022
Gain |  |  |  |  |  |  |
Effective portion of change in fair market value of derivatives designated as accounting cash flow hedges: |  |  |  |  |  |  |
Interest rate contracts | $ | 58,408 |  |  | $ | 31,527 |  |  | $ | 20,854 |  |  | $ | 91,672 |
Derivative premium and amortization | 4,321 |  |  | 1,174 |  |  | 5,982 |  |  | 2,341 |
Income tax effect | (8,544) |  |  | (4,088) |  |  | (4,217) |  |  | (11,752) |
Net gain on derivatives, net of tax | $ | 54,185 |  |  | $ | 28,613 |  |  | $ | 22,619 |  |  | $ | 82,261 |
Schedule of effect of derivatives recorded in interest expense in Consolidated Income Statements | The following table presents the effect of derivatives recorded in interest expense in our Condensed Consolidated Income Statements for the three and six months ended June 30, 2023 and 2022:
| Three Months Ended June 30, |  | Six Months Ended June 30,
| 2023 |  | 2022 |  | 2023 |  | 2022
Gain (Loss) |  |  |  |  |  |  |
Derivatives not designated as accounting hedges: |  |  |  |  |  |  |
Interest rate contracts | $ | 2,874 |  |  | $ | 3,239 |  |  | $ | (10,757) |  |  | $ | 39,309 |
Reclassification to Condensed Consolidated Income Statements: |  |  |  |  |  |  |
Reclassification of amounts previously recorded within AOCI | 29,348 |  |  | (10,781) |  |  | 47,005 |  |  | (30,072) |
Gain (loss) recognized in interest expense | $ | 32,222 |  |  | $ | (7,542) |  |  | $ | 36,248 |  |  | $ | 9,237 |

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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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