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Derivatives (Tables) | 9 Months Ended
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Sep. 30, 2022
Derivative Instruments and Hedging Activities Disclosure [Abstract] |
Schedule of Non-Designated Foreign Exchange Forwards | The following table summarizes our non-designated Fx forwards and our interest rate cap as of September 30, 2022:
| September 30, 2022
Type of Derivatives | Number of Contracts |  | Aggregate Notional Amount (in thousands) |  | Notional Currency |  | Maturity |  | Weighted-Average Years to Maturity
Fx contracts - GBP | 130 |  | 971,560 |  | GBP |  | October 2022 - February 2027 |  | 1.98
Fx contracts - EUR | 127 |  | 560,982 |  | EUR |  | October 2022 - November 2025 |  | 1.97
Fx contracts - SEK | 20 |  | 744,089 |  | SEK |  | November 2022 - May 2026 |  | 3.15
Interest rate cap | 1 |  | 500,000 |  | USD |  | June 2023 |  | 0.71
The following table summarizes our non-designated Fx forwards and our interest rate cap as of December 31, 2021:
| December 31, 2021
Type of Derivatives | Number of Contracts |  | Aggregate Notional Amount (in thousands) |  | Notional Currency |  | Maturity |  | Weighted-Average Years to Maturity
Fx contracts - GBP | 125 |  | 738,178 |  | GBP |  | January 2022 - February 2026 |  | 2.14
Fx contracts - EUR | 90 |  | 508,541 |  | EUR |  | January 2022 - November 2025 |  | 1.88
Fx contracts - SEK | 20 |  | 765,138 |  | SEK |  | February 2022 - May 2026 |  | 3.74
Interest rate cap | 1 |  | 500,000 |  | USD |  | June 2023 |  | 1.45
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 nine months ended September 30, 2022 and 2021 ($ 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 |  | 2022 |  | 2021 |  | 2022 |  | 2021 |
Forward currency contracts | Unrealized gain on derivative instruments |  | $ | 108,428 |  |  | $ | 32,376 |  |  | $ | 221,623 |  |  | $ | 40,857 |  |
Forward currency contracts | Realized gain (loss) on derivative instruments |  | 20,824 |  |  | 571 |  |  | 35,604 |  |  | (1,204) |  |
Total |  |  | $ | 129,252 |  |  | $ | 32,947 |  |  | $ | 257,227 |  |  | $ | 39,653 |  |
The following table summarizes the amount recognized on our condensed consolidated statements of operations related to our interest rate cap for the three and nine months ended September 30, 2022 and 2021 ($ in thousands):
|  |  | Amount of gain (loss) recognized in income
|  |  | Three months ended September 30, | Nine months ended September 30,
| Location of Gain Recognized in Income |  | 2022 |  | 2021 | 2022 |  | 2021 |  |
Interest rate cap(1) | Unrealized gain (loss) on interest rate hedging instruments |  | $ | 1,044 |  |  | $ | (75) |  | $ | 10,808 |  |  | $ | 171 |  |  |
Total |  |  | $ | 1,044 |  |  | $ | (75) |  | $ | 10,808 |  |  | $ | 171 |  |  |
——————— (1)With a notional amount of $500.0 million at September 30, 2022 and 2021.
Schedule of Gross Asset and Liability Amounts Related to Derivatives | The following tables summarize the gross asset and liability amounts related to our derivatives at September 30, 2022 and December 31, 2021 ($ in thousands):
| September 30, 2022 |  | December 31, 2021
| 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 | $ | 270,871 |  |  | $ | (33,908) |  |  | $ | 236,963 |  |  | $ | 28,781 |  |  | $ | (13,441) |  |  | $ | 15,340 |
Interest rate cap | 12,257 |  |  | — |  |  | 12,257 |  |  | 1,448 |  |  | — |  |  | 1,448 |
Total derivative assets (liabilities) | $ | 283,128 |  |  | $ | (33,908) |  |  | $ | 249,220 |  |  | $ | 30,229 |  |  | $ | (13,441) |  |  | $ | 16,788 |

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