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Derivative Instruments (Tables)

6 Months Ended

Jun. 30, 2023

Summary of Derivative Instruments [Abstract]

Summary Of The Effect Of Derivative Instruments On The Consolidated Statements Of Changes In Equity And Income

Below is a summary of the effect of derivative instruments on the consolidated statements of changes in equity and income for the three and six months ended June 30, 2023 and 2022.

Effect of Derivative Instruments on the Consolidated Statements of Changes in Equity and Comprehensive Income for the Three and Six Ended June 30, 2023 and 2022 (Dollars in thousands)

			Three Months Ended June 30,									Six Months Ended June 30,
Description			2023			2022						2023			2022
Cash Flow Hedges
Interest Rate Swaps
Amount of Gain Recognized in AOCI on Derivative			$	516		$	225					$	218		$	1,050
Amount of Income (Expense) Reclassified from AOCI into Earnings (1)			159			(37)						285			(113)
Cross-Currency Swaps
Amount of (Loss) Gain Recognized in AOCI on Derivative			(460)			199						(456)			173
Amount of Income (Expense) Reclassified from AOCI into Earnings (2)			216			(45)						441			(99)
Net Investment Hedges
Cross-Currency Swaps
Amount of Gain Recognized in AOCI on Derivative			—			3,684						—			665
Amount of Income Recognized in Earnings (2) (3)			—			71						—			170
Currency Forward Agreements
Amount of (Loss) Gain Recognized in AOCI on Derivative			(4,287)			938						(3,946)			938
Total
Amount of (Loss) Gain Recognized in AOCI on Derivatives			$	(4,231)		$	5,046					$	(4,184)		$	2,826
Amount of Income (Expense) Reclassified from AOCI into Earnings			375			(82)						726			(212)
Amount of Income Recognized in Earnings			—			71						—			170
Interest expense, net in accompanying consolidated statements of income and comprehensive income			$	31,591		$	33,289					$	63,313		$	66,549
Other income in accompanying consolidated statements of income and comprehensive income			$	10,124		$	9,961					$	19,457		$	19,266

(1) Included in "Interest expense, net" in the accompanying consolidated statements of income and comprehensive income for the three and six months ended June 30, 2023 and 2022.

(2) Included in "Other income" in the accompanying consolidated statements of income and comprehensive income for the three and six months ended June 30, 2023 and 2022.

(3) Amounts represent derivative gains excluded from the effectiveness testing.

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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

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- References

No definition available.

+ Details

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