XML 54 R37.htm IDEA: XBRL DOCUMENT
v3.25.0.1

DERIVATIVE INSTRUMENTS (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract] |
Schedule of Derivative Instruments | Certain information related to the Company’s foreign currency forward derivative instruments as of December 31, 2024 and 2023 is presented below.
| As of December 31, 2024
Derivative Instrument | Notional Amount |  |  |  | Gross Amount of Recognized Assets |  | Gross Amount of Recognized Liabilities |  | Balance Sheet Location of Net Amounts
Foreign currency forward contract | CAD | 240 |  |  |  | $ | 184 |  |  | $ | (179) |  |  | Other Assets
Foreign currency forward contract | CAD | 188 |  |  |  | 133 |  |  | (131) |  |  | Other Assets
Foreign currency forward contract | € | 182 |  |  |  | 195 |  |  | (189) |  |  | Other Assets
Foreign currency forward contract | £ | 133 |  |  |  | 168 |  |  | (166) |  |  | Other Assets
Foreign currency forward contract | € | 103 |  |  |  | 109 |  |  | (105) |  |  | Other Assets
Foreign currency forward contract | NOK | 97 |  |  |  | 96 |  |  | (96) |  |  | Other Assets
Foreign currency forward contract | £ | 74 |  |  |  | 95 |  |  | (93) |  |  | Other Assets
Foreign currency forward contract | NZD | 68 |  |  |  | 41 |  |  | (38) |  |  | Other Assets
Foreign currency forward contract | NOK | 63 |  |  |  | 6 |  |  | (6) |  |  | Other Assets
Foreign currency forward contract | AUD | 21 |  |  |  | 14 |  |  | (14) |  |  | Other Assets
Total |  |  |  |  |  | $ | 1,041 |  |  | $ | (1,017) |  |  |
| As of December 31, 2023
Derivative Instrument | Notional Amount |  |  |  | Gross Amount of Recognized Assets |  | Gross Amount of Recognized Liabilities |  | Balance Sheet Location of Net Amounts
Foreign currency forward contract | CAD | 321 |  |  |  | $ | 234 |  |  | $ | (239) |  |  | Accounts payable and other liabilities
Foreign currency forward contract | € | 190 |  |  |  | 200 |  |  | (207) |  |  | Accounts payable and other liabilities
Foreign currency forward contract | £ | 172 |  |  |  | 209 |  |  | (217) |  |  | Accounts payable and other liabilities
Foreign currency forward contract | NZD | 71 |  |  |  | 41 |  |  | (45) |  |  | Accounts payable and other liabilities
Foreign currency forward contract | $ | 10 |  |  |  | 9 |  |  | (9) |  |  | Accounts payable and other liabilities
Foreign currency forward contract | AUD | 10 |  |  |  | 7 |  |  | (7) |  |  | Accounts payable and other liabilities
Foreign currency forward contract | CAD | 4 |  |  |  | 3 |  |  | (3) |  |  | Accounts payable and other liabilities
Total |  |  |  |  |  | $ | 703 |  |  | $ | (727) |  |  |
Schedule of Net Realized and Unrealized Gains (Losses) on Derivative Instruments | Net realized and unrealized gains and losses on derivative instruments not designated as a qualifying hedge accounting relationship recognized by the Company for the years ended December 31, 2024, 2023 and 2022 is in the following location in the consolidated statements of operations:
|  |  |  | For the Years Ended December 31,
Derivative Instrument | Statement Location |  |  |  |  | 2024 |  | 2023 |  | 2022
Foreign currency forward contract | Net realized gains (losses) from foreign currency and other transactions |  |  |  |  | $ | (1) |  |  | $ | (13) |  |  | $ | 62 |
Foreign currency forward contract | Net unrealized gains (losses) from foreign currency and other transactions |  |  |  |  | $ | 51 |  |  | $ | (5) |  |  | $ | (9) |
Schedule of Interest Rate Swap Instruments | Certain information related to the Company’s interest rate swaps as of December 31, 2024 is presented below.
Description |  | Hedged Item |  | Company Receives |  | Company Pays |  |  |  | Maturity Date |  | Notional Amount |  |  |  |
Interest rate swap |  | January 2027 Notes |  | 7.000 | % |  | SOFR +2.581% |  |  |  | January 15, 2027 |  | $ | 900 |  |  |  |  |
Interest rate swap |  | March 2029 Notes |  | 5.875 | % |  | SOFR +2.023% |  |  |  | March 1, 2029 |  | $ | 1,000 |  |  |  |  |
Interest rate swap |  | July 2029 Notes |  | 5.950 | % |  | SOFR +1.643% |  |  |  | July 15, 2029 |  | $ | 850 |  |  |  |  |
As of December 31, 2024 and 2023, the counterparty to all of the Company’s interest rate swaps was Wells Fargo Bank, N.A. Certain information related to the Company’s interest rate swaps as of December 31, 2024 is presented below.
Description |  | Hedged Item |  | Company Receives |  | Company Pays |  |  |  | Maturity Date |  | Notional Amount |  |  |  |
Interest rate swap |  | January 2027 Notes |  | 7.000 | % |  | SOFR +2.581% |  |  |  | January 15, 2027 |  | $ | 900 |  |  |  |  |
Interest rate swap |  | March 2029 Notes |  | 5.875 | % |  | SOFR +2.023% |  |  |  | March 1, 2029 |  | $ | 1,000 |  |  |  |  |
Interest rate swap |  | July 2029 Notes |  | 5.950 | % |  | SOFR +1.643% |  |  |  | July 15, 2029 |  | $ | 850 |  |  |  |  |
Schedule of Interest Rate Swap Derivative Instruments | The balance sheet impact of fair valuing the interest rate swaps as of December 31, 2024 and 2023 is presented below:
| As of December 31, 2024
Derivative Instrument | Notional Amount |  | Maturity Date |  | Gross Amount of Recognized Assets |  | Gross Amount of Recognized Liabilities |  | Balance Sheet Location of Amounts
Interest rate swap(1) | $ | 900 |  |  | January 15, 2027 |  | $ | 4 |  |  | $ | — |  |  | Other assets
Interest rate swap(2) | $ | 1,000 |  |  | March 1, 2029 |  | — |  |  | (9) |  |  | Accounts payable and other liabilities
Interest rate swap(3) | $ | 850 |  | July 15, 2029 |  | 7 |  |  | — |  |  | Other assets
Total |  |  |  |  |  | $ | 11 |  |  | $ | (9) |  |  |
________________________________________ (1)The asset related to the fair value of the interest rate swaps was offset by a $4 increase to the carrying value of the January 2027 Notes. (2)The liability related to the fair value of the interest rate swap was offset by a $9 decrease to the carrying value of the March 2029 Notes. (3)The asset related to the fair value of the interest rate swap was offset by a $7 increase to the carrying value of the July 2029 Notes.
| As of December 31, 2023
Derivative Instrument | Notional Amount |  | Maturity Date |  | Gross Amount of Recognized Assets |  | Gross Amount of Recognized Liabilities |  | Balance Sheet Location of Amounts
Interest rate swap(1) | $ | 900 |  |  | January 15, 2027 |  | $ | 15 |  |  | $ | — |  |  | Other assets
Total |  |  |  |  |  | $ | 15 |  |  | $ | — |  |  |
________________________________________ (1)The asset related to the fair value of the interest rate swaps was offset by a $15 increase to the carrying value of the January 2027 Notes.

X
- References No definition available. + Details
Name: | us-gaap_DerivativeInstrumentsAndHedgingActivitiesDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- 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
Name: | us-gaap_ScheduleOfDerivativeInstrumentsGainLossInStatementOfFinancialPerformanceTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure for fair value hedging instruments of (a) the location and amount of gains and losses reported in the statement of financial performance and (b) the location and fair value amounts of the instruments reported in the statement of financial position. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4C -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-4C + Details
Name: | us-gaap_ScheduleOfFairValueHedgingInstrumentsStatementsOfFinancialPerformanceAndFinancialPositionLocationTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the presentation of foreign exchange contracts on the statement of financial position, including the fair value amounts and location of such amounts. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 815 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 4B -Subparagraph (c)(1) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-4B + Details
Name: | us-gaap_ScheduleOfForeignExchangeContractsStatementOfFinancialPositionTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of interest rate derivatives, including, but not limited to, the fair value of the derivatives, statement of financial position location, and statement of financial performance location of these instruments. + References Reference 1: 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
Name: | us-gaap_ScheduleOfInterestRateDerivativesTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration