XML 43 R33.htm IDEA: XBRL DOCUMENT
v3.20.2

Derivatives (Tables) | 9 Months Ended
--- | ---
Sep. 30, 2020
Derivative Instruments and Hedging Activities Disclosure [Abstract] |
Schedule of Non-Designated Foreign Exchange Forwards | The following table summarizes our non-designated foreign exchange ("Fx") forwards and our interest rate cap as of September 30, 2020:
| September 30, 2020 |  |  |  |  |  |  |  |
| Number of Contracts |  | Aggregate Notional Amount (in thousands) |  | Notional Currency |  | Maturity |  | Weighted-Average Years to Maturity
Fx contracts - GBP | 106 |  | 422,585 |  | GBP |  | October 2020 - December 2024 |  | 2.16
Fx contracts - EUR | 70 |  | 238,817 |  | EUR |  | November 2020 - August 2024 |  | 2.79
Interest rate cap | 1 |  | 500,000 |  | USD |  | June 2023 |  | 2.71
The following table summarizes our non-designated Fx forwards and our interest rate swap as of December 31, 2019:
| December 31, 2019 |  |  |  |  |  |  |  |
| Number of Contracts |  | Aggregate Notional Amount (in thousands) |  | Notional Currency |  | Maturity |  | Weighted-Average Years to Maturity
Fx contracts - GBP | 156 |  | 735,349 |  | GBP |  | January 2020 - December 2024 |  | 1.49
Fx contracts - EUR | 44 |  | 168,879 |  | EUR |  | February 2020 - August 2024 |  | 3.22
Interest rate swap | 1 |  | 500,000 |  | USD |  | May 2026 |  | 6.37
Schedule of Amounts Recognized on Consolidated Statements of Operations Related to Company's Derivatives | The following table summarizes the amounts recognized on our condensed consolidated statements of operations related to our derivatives for the three and nine months ended September 30, 2020 and 2019 ($ in thousands):
|  |  | Amount of gain (loss) recognized in income |  |  |  |  |  |
|  |  | Three months ended September 30, |  |  |  | Nine months ended September 30, |  |
| Location of Gain (Loss) Recognized in Income |  | 2020 |  | 2019 |  | 2020 |  | 2019
Forward currency contracts | Unrealized gain (loss) on derivative instruments |  | $ | (35,076) |  |  | $ | 16,227 |  |  | $ | 18,356 |  |  | $ | 12,029 |
Forward currency contracts | Realized gain on derivative instruments |  | 539 |  |  | 7,926 |  |  | 14,603 |  |  | 16,590 |
Total |  |  | $ | (34,537) |  |  | $ | 24,153 |  |  | $ | 32,959 |  |  | $ | 28,619 |
|  |  | Amount of loss recognized in income |  |  |  |  |  |
|  |  | Three months ended September 30, |  |  |  | Nine months ended September 30, |  |
| Location of Loss Recognized in Income |  | 2020 |  | 2019 |  | 2020 |  | 2019
Interest rate cap(1) | Unrealized gain (loss) on interest rate cap |  | $ | (564) |  |  | $ | — |  |  | $ | 174 |  |  | $ | — |
Interest rate swap(2) | Unrealized gain (loss) on interest rate swap |  | — |  |  | (10,307) |  |  | 14,470 |  |  | (23,420) |
Interest rate swap(2) | Realized loss on interest rate swap |  | — |  |  | — |  |  | (53,851) |  |  | — |
Total |  |  | $ | (564) |  |  | $ | (10,307) |  |  | $ | (39,207) |  |  | $ | (23,420) |
——————— (1)With a notional amount of $500.0 million and $0 at September 30, 2020, and 2019, respectively. (2)With a notional amount of $0 and $500.0 million at September 30, 2020, and 2019, respectively.
Schedule of Gross Asset and Liability Amounts Related to Derivatives | The following tables summarize the gross asset and liability amounts related to our derivatives at September 30, 2020 and December 31, 2019 ($ in thousands)
| September 30, 2020 |  |  |  |  |  | December 31, 2019 |  |  |  |
| Gross Amount of Recognized Assets |  | Gross Amounts Offset in our Condensed Consolidated Balance Sheet |  | Net Amounts of Assets Presented in our Condensed Consolidated Balance Sheet |  | Gross Amount of Recognized Assets |  | Gross Amounts Offset in our Condensed Consolidated Balance Sheet |  | Net Amounts of Assets Presented in our Condensed Consolidated Balance Sheet
Forward currency contracts | $ | 20,788 |  |  | $ | (7,307) |  |  | $ | 13,481 |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Interest rate cap | 173 |  |  | — |  |  | 173 |  |  | — |  |  | — |  |  | — |
Total | $ | 20,961 |  |  | $ | (7,307) |  |  | $ | 13,654 |  |  | $ | — |  |  | $ | — |  |  | $ | — |
| September 30, 2020 |  |  |  |  |  | December 31, 2019 |  |  |  |
| Gross Amount of Recognized Liability |  | Gross Amounts Offset in our Condensed Consolidated Balance Sheet |  | Net Amounts of Liability Presented in our Condensed Consolidated Balance Sheet |  | Gross Amount of Recognized Liabilities |  | Gross Amounts Offset in our Condensed Consolidated Balance Sheet |  | Net Amounts of Liabilities Presented in our Condensed Consolidated Balance Sheet
Interest rate swap | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 14,470 |  |  | $ | — |  |  | $ | 14,470 |
Forward currency contracts | — |  |  | — |  |  | — |  |  | 12,687 |  |  | (7,811) |  |  | 4,876 |
Total derivative liabilities | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 27,157 |  |  | $ | (7,811) |  |  | $ | 19,346 |

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 -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4E -URI http://asc.fasb.org/extlink&oid=121590274&loc=SL5624181-113959 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4A -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=121590274&loc=SL5618551-113959 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4C -URI http://asc.fasb.org/extlink&oid=121590274&loc=SL5624171-113959 + Details
Name: | us-gaap_ScheduleOfDerivativeInstrumentsGainLossInStatementOfFinancialPerformanceTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of pertinent information about a derivative or group of derivatives on a disaggregated basis, such as for individual instruments, or small groups of similar instruments. May include a combination of the type of instrument, risks being hedged, notional amount, hedge designation, related hedged item, inception date, maturity date, or other relevant item. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4B -URI http://asc.fasb.org/extlink&oid=121590274&loc=SL5624163-113959 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 1B -URI http://asc.fasb.org/extlink&oid=121590274&loc=SL5580258-113959 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=121590274&loc=d3e41620-113959 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 1A -URI http://asc.fasb.org/extlink&oid=121590274&loc=SL5579245-113959 Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=121590274&loc=d3e41638-113959 Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 8 -URI http://asc.fasb.org/extlink&oid=121590274&loc=d3e41678-113959 Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 5 -URI http://asc.fasb.org/extlink&oid=121590274&loc=d3e41641-113959 Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4C -URI http://asc.fasb.org/extlink&oid=121590274&loc=SL5624171-113959 Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=121590274&loc=SL5579240-113959 + Details
Name: | us-gaap_ScheduleOfDerivativeInstrumentsTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the notional amounts of outstanding derivative positions. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 1A -Subparagraph (d) -URI http://asc.fasb.org/extlink&oid=121590274&loc=SL5579245-113959 + Details
Name: | us-gaap_ScheduleOfNotionalAmountsOfOutstandingDerivativePositionsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration