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DERIVATIVE INSTRUMENTS
 9 Months Ended
Sep. 30, 2023
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
DERIVATIVE INSTRUMENTS
6. DERIVATIVE INSTRUMENTS

The Company enters into derivative instruments from time to time to help mitigate its foreign currency and interest rate risk exposures.

Foreign Currency Forward Contracts

Certain information related to the Company’s foreign currency forward derivative instruments as of September 30, 2023 and December 31, 2022 is presented below.
 As of September 30, 2023
Derivative InstrumentNotional
Amount		Maturity DateGross Amount of Recognized AssetsGross Amount of Recognized LiabilitiesBalance Sheet
Location of Net Amounts
Foreign currency forward contractCAD172 10/27/2023$129 $(126)Other assets
Foreign currency forward contract€167 10/27/2023186 (177)Other assets
Foreign currency forward contractCAD153 10/19/2023113 (112)Other assets
Foreign currency forward contract£112 10/27/2023145 (137)Other assets
Foreign currency forward contractNZD68 10/27/202342 (41)Other assets
Foreign currency forward contract£25 8/21/202631 (30)Other assets
Foreign currency forward contractCAD13 10/10/202310 (10)Accounts payable and other liabilities
Foreign currency forward contract€12 1/26/202413 (13)Accounts payable and other liabilities
Foreign currency forward contract€10 10/6/202311 (11)Accounts payable and other liabilities
Foreign currency forward contractCAD1 10/27/2023— — Accounts payable and other liabilities
Total$680 $(657)

 As of December 31, 2022
Derivative InstrumentNotional
Amount		Maturity DateGross Amount of Recognized AssetsGross Amount of Recognized LiabilitiesBalance Sheet
Location of Net Amounts
Foreign currency forward contractCAD264 1/27/2023$195 $(196)Accounts payable and other liabilities
Foreign currency forward contractCAD242 1/18/2023178 (179)Accounts payable and other liabilities
Foreign currency forward contract€158 1/27/2023159 (169)Accounts payable and other liabilities
Foreign currency forward contract£125 1/27/2023145 (151)Accounts payable and other liabilities
Foreign currency forward contractNZD59 1/27/202334 (37)Accounts payable and other liabilities
Foreign currency forward contractCAD17 1/27/202312 (12)Accounts payable and other liabilities
Total$723 $(744)

As of September 30, 2023, the counterparties to the Company’s foreign currency forward contracts were Canadian Imperial Bank of Commerce and Royal Bank of Canada. As of December 31, 2022, the counterparty to the Company’s foreign currency forward contracts was Royal Bank of Canada.

Net realized gains and losses on derivative instruments not designated as a qualifying hedge accounting relationship recognized by the Company for the three and nine months ended September 30, 2023 and 2022 is in the following location in the consolidated statements of operations:
For the Three Months Ended September 30,For the Nine Months Ended September 30,
Derivative InstrumentStatement Location2023202220232022
Foreign currency forward contractNet realized gains (losses) from foreign currency and other transactions$(7)$22 (39)$36 
Total$(7)$22 $(39)$36 

Net unrealized gains and losses on derivative instruments not designated as a qualifying hedge accounting relationship recognized by the Company for the three and nine months ended September 30, 2023 and 2022 is in the following location in the consolidated statements of operations:

For the Three Months Ended September 30,For the Nine Months Ended September 30,
Derivative InstrumentStatement Location2023202220232022
Foreign currency forward contractNet unrealized gains (losses) from foreign currency and other transactions$26 $31 $44 $52 
Total$26 $31 $44 $52 

Interest Rate Swap

In connection with the January 2027 Notes, the Company entered into an interest rate swap agreement to more closely align the interest rate of such liability with its investment portfolio, which consists of primarily floating rate loans. Under the interest rate swap agreement, the Company receives a fixed interest rate of 7.000% and pays a floating interest rate of one-month SOFR plus 2.585%. The Company designated this interest rate swap and the January 2027 Notes as a qualifying fair value hedge accounting relationship. See Note 5 for more information on the January 2027 Notes.

As of September 30, 2023, the counterparty to the Company’s interest rate swap agreement was Wells Fargo Bank, N.A.

As a result of the Company’s designation of the interest rate swap as a hedging instrument in a qualifying fair value hedge accounting relationship, the Company is required to fair value the hedging instrument and the related hedged item, with the changes in the fair value of each being recorded in interest expense. The net gain related to the fair value hedge was $0 and $0, respectively, for the three and nine months ended September 30, 2023, which is included in “interest and credit facility fees” in the Company’s consolidated statement of operations. The balance sheet impact of fair valuing the interest rate swap as of September 30, 2023 is presented below:

 As of September 30, 2023
Derivative InstrumentNotional
Amount		Maturity DateGross Amount of Recognized AssetsGross Amount of Recognized LiabilitiesBalance Sheet Location of Amounts
Interest rate swap(1)$600 1/15/2027$— $(5)Accounts payable and other liabilities
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(1)The liability related to the fair value of the interest rate swap is offset by a $5 reduction to the carrying value of the January 2027 Notes.