XML 46 R37.htm IDEA: XBRL DOCUMENT v3.23.3
Derivatives (Tables)
 9 Months Ended
Sep. 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 and interest rate cap as of September 30, 2023:
September 30, 2023
Type of DerivativesNumber of ContractsAggregate Notional Amount (in thousands)Notional CurrencyMaturityWeighted-Average Years to Maturity
Fx contracts - GBP110934,662GBPOctober 2023 - February 20271.29
Fx contracts - EUR99424,355EUROctober 2023 - August 20261.17
Fx contracts - SEK17689,627SEKNovember 2023 - May 20262.36
Interest rate cap1164,835USDOctober 20241.00
    
The following table summarizes our non-designated Fx forwards and interest rate cap as of December 31, 2022:
December 31, 2022
Type of DerivativesNumber of ContractsAggregate Notional Amount (in thousands)Notional CurrencyMaturityWeighted-Average Years to Maturity
Fx contracts - GBP124936,930GBPJanuary 2023 - February 20271.78
Fx contracts - EUR130576,240EURJanuary 2023 - November 20251.78
Fx contracts - SEK19730,432SEKFebruary 2023 - May 20262.95
Interest rate cap1500,000USDJune 20230.46
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 forward currency contracts for the nine months ended September 30, 2023 and 2022 ($ 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 Income2023202220232022
Forward currency contractsUnrealized gain (loss) on derivative instruments $28,244 $108,428 $(27,709)$221,623 
Forward currency contractsRealized gain on derivative instruments 11,246 20,824 35,948 35,604 
Total$39,490 $129,252 $8,239 $257,227 
The following table summarizes the amounts recognized on our condensed consolidated statements of operations related to our interest rate caps for the three and nine months ended September 30, 2023 and 2022 ($ 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		2023202220232022
Interest rate capUnrealized gain (loss) on interest rate hedging instruments$(70)$1,044 $(9,211)$10,808 
Interest rate capRealized gain on interest rate hedging instruments— — 9,089 — 
Total$(70)$1,044 $(122)$10,808 
Schedule of Gross Asset and Liability Amounts Related to Derivatives
The following tables summarize the gross asset and liability amounts related to our derivatives at September 30, 2023 and December 31, 2022 ($ in thousands):
September 30, 2023December 31, 2022
Gross Amount of Recognized AssetsGross Amounts Offset in our Condensed Consolidated Balance SheetNet Amounts
of Assets
Presented in
our Condensed Consolidated Balance Sheet		Gross Amount of Recognized AssetsGross
Amounts
Offset in our
 Consolidated Balance Sheet		Net Amounts of Assets Presented in our Consolidated Balance Sheet
Forward currency contracts$112,698 $(20,908)$91,790 $143,285 $(23,786)$119,499 
Interest rate cap2,247 — 2,247 9,141 — 9,141 
Total derivative assets (liabilities)$114,945 $(20,908)$94,037 $152,426 $(23,786)$128,640