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Derivative Instruments (Tables)

6 Months Ended

Jun. 30, 2024

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			June 30, 2024			December 31, 2023						Balance sheet location			June 30, 2024			December 31, 2023
Derivative instruments designated as hedging instruments:
Interest rate swaps, current portion			Prepaid expenses and other current assets			$	7,362		$	16,198					Accrued expenses and other current liabilities			$	—		$	—
Foreign currency forward contracts, current portion			Prepaid expenses and other current assets			252			—						Accrued expenses and other current liabilities			56			536
Interest rate swaps, long-term			Other assets			6,920			—						Other liabilities			—			5,004
Total derivative instruments designated as hedging instruments						$	14,534		$	16,198								$	56		$	5,540

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 (loss) recognized in accumulated other comprehensive income (loss) as of			Location of gain (loss) reclassified from accumulated other comprehensive income (loss) into income (loss)			Gain reclassified from accumulated  other comprehensive income (loss) into income (loss)
(dollars in thousands)			June 30, 2024						Three months ended June 30, 2024						Six months ended June 30, 2024
Cash Flow Hedges
Interest rate swaps			$	14,282		Interest expense			$	5,456					$	10,929
Foreign currency forward contracts			$	252		Revenue			$	129					$	163
Net Investment Hedges
Foreign currency forward contracts			$	(56)					$	—					$	—
			June 30, 2023						Three months ended June 30, 2023						Six months ended June 30, 2023
Cash Flow Hedges
Interest rate swaps			$	25,204		Interest expense			$	5,083					$	9,582
Foreign currency forward contracts			$	(292)		Revenue			$	109					$	234
Net Investment Hedges
Foreign currency forward contracts			$	(401)					$	—					$	—

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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
-Topic 815
-SubTopic 10
-Name Accounting Standards Codification
-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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