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Derivative Instruments (Tables)

12 Months Ended

Dec. 31, 2023

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Fair Values of Derivative Instruments

The fair values of our derivative instruments were as follows as of:

						Asset derivatives												Liability Derivatives
(dollars in thousands)			Balance sheet location			December 31, 2023			December 31, 2022						Balance sheet location			December 31, 2023			December 31, 2022
Derivative instruments designated as hedging instruments:
Interest rate swaps, current portion			Prepaid expenses and other current assets			$	16,198		$	—					Accrued expenses and other current liabilities			$	—		$	—
Foreign currency forward contracts, current portion			Prepaid expenses and other current assets			—			247						Accrued expenses and other current liabilities			536			323
Interest rate swaps, long-term			Other assets			—			31,870						Other liabilities			5,004			—
Total derivative instruments designated as hedging instruments						$	16,198		$	32,117								$	5,540		$	323

Effects of Derivative Instruments in Cash Flow Hedging Relationships

The effects of derivative instruments in cash flow and net investment hedging relationships were as follows:

			Gain recognized in accumulated other comprehensive (loss) income as of			Location of gain reclassified from accumulated other comprehensive (loss) income into income (loss)			Gain (loss) reclassified from accumulated other comprehensive (loss) income into income (loss)
(dollars in thousands)			December 31, 2023						Year ended December 31, 2023
Cash Flow Hedges
Interest rate swaps			$	11,194		Interest expense			$	20,418
Foreign currency forward contracts			$	(235)		Revenue			$	388
Net Investment Hedge
Foreign currency forward contracts			$	(301)					$	—
			December 31, 2022						Year ended December 31, 2022
Cash Flow Hedges
Interest rate swaps			$	31,870		Interest expense			$	5,520
Foreign currency forward contracts			$	247		Revenue			$	165
Net Investment Hedges
Foreign currency forward contracts			$	(323)					$	—
			December 31, 2021						Year ended December 31, 2021
Cash Flow Hedges
Interest rate swaps			$	7,160		Interest expense			$	(3,714)

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- References

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- Definition

Tabular disclosure of gain (loss) on derivative and nonderivative instruments designated and qualifying as cash flow hedge recorded in accumulated other comprehensive income (AOCI) and reclassified into earnings.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4C
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480434/815-10-50-4C

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- Definition

Tabular disclosure of the location and fair value amounts of derivative instruments (and nonderivative instruments that are designated and qualify as hedging 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 4B
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480434/815-10-50-4B

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