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Derivatives (Tables) | 6 Months Ended
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Jun. 30, 2023
Derivative Instruments and Hedging Activities Disclosure [Abstract] |
Schedule of Non-Designated Foreign Exchange Forwards | The following table summarizes our non-designated Fx forwards as of June 30, 2023:
| June 30, 2023
Type of Derivatives | Number of Contracts |  | Aggregate Notional Amount (in thousands) |  | Notional Currency |  | Maturity |  | Weighted-Average Years to Maturity
Fx contracts - GBP | 118 |  | 922,240 |  | GBP |  | July 2023 - February 2027 |  | 1.43
Fx contracts - EUR | 103 |  | 440,396 |  | EUR |  | July 2023 - November 2025 |  | 1.39
Fx contracts - SEK | 18 |  | 704,254 |  | SEK |  | August 2023 - May 2026 |  | 2.56
The following table summarizes our non-designated Fx forwards and our interest rate cap as of December 31, 2022:
| December 31, 2022
Type of Derivatives | Number of Contracts |  | Aggregate Notional Amount (in thousands) |  | Notional Currency |  | Maturity |  | Weighted-Average Years to Maturity
Fx contracts - GBP | 124 |  | 936,930 |  | GBP |  | January 2023 - February 2027 |  | 1.78
Fx contracts - EUR | 130 |  | 576,240 |  | EUR |  | January 2023 - November 2025 |  | 1.78
Fx contracts - SEK | 19 |  | 730,432 |  | SEK |  | February 2023 - May 2026 |  | 2.95
Interest rate cap | 1 |  | 500,000 |  | USD |  | June 2023 |  | 0.46
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 six months ended June 30, 2023 and 2022 ($ in thousands):
|  |  | Amount of gain (loss) recognized in income
|  |  | Three months ended June 30, |  | Six months ended June 30,
| Location of Gain (Loss) Recognized in Income |  | 2023 |  | 2022 |  | 2023 |  | 2022 |  |
Forward currency contracts | Unrealized gain (loss) on derivative instruments |  | $ | (20,102) |  |  | $ | 95,053 |  |  | $ | (55,953) |  |  | $ | 113,195 |  |  |
Forward currency contracts | Realized gain on derivative instruments |  | 2,986 |  |  | 10,160 |  |  | 24,702 |  |  | 14,780 |  |  |
Total |  |  | $ | (17,116) |  |  | $ | 105,213 |  |  | $ | (31,251) |  |  | $ | 127,975 |  |  |
The following table summarizes the amounts recognized on our condensed consolidated statements of operations related to our interest rate cap for the three and six months ended June 30, 2023 and 2022 ($ in thousands):
|  |  | Amount of gain (loss) recognized in income
|  |  | Three months ended June 30, | Six months ended June 30,
| Location of gain (loss) recognized in income |  | 2023 |  | 2022 | 2023 |  | 2022
Interest rate cap(1) | Unrealized gain (loss) on interest rate hedging instruments |  | $ | (4,328) |  |  | $ | 3,443 |  | $ | (9,141) |  |  | $ | 9,764 |
Interest rate cap(1) | Realized gain on interest rate hedging instruments |  | 4,383 |  |  | — |  | 9,089 |  |  | — |
Total |  |  | $ | 55 |  |  | $ | 3,443 |  | $ | (52) |  |  | $ | 9,764 |
——————— (1)The interest rate cap had a notional amount of $500.0 million before it terminated on June 15, 2023.
Schedule of Gross Asset and Liability Amounts Related to Derivatives | The following tables summarize the gross asset and liability amounts related to our derivatives at June 30, 2023 and December 31, 2022 ($ in thousands):
| June 30, 2023 |  | December 31, 2022
| 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 Consolidated Balance Sheet |  | Net Amounts of Assets Presented in our Consolidated Balance Sheet
Forward currency contracts | $ | 87,978 |  |  | $ | (24,432) |  |  | $ | 63,546 |  |  | $ | 143,285 |  |  | $ | (23,786) |  |  | $ | 119,499 |
Interest rate cap | — |  |  | — |  |  | — |  |  | 9,141 |  |  | — |  |  | 9,141 |
Total derivative assets (liabilities) | $ | 87,978 |  |  | $ | (24,432) |  |  | $ | 63,546 |  |  | $ | 152,426 |  |  | $ | (23,786) |  |  | $ | 128,640 |

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