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Derivatives (Tables) | 3 Months Ended
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Mar. 31, 2024
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 March 31, 2024:
| March 31, 2024
Type of Derivatives | Number of Contracts |  | Aggregate Notional Amount (in thousands) |  | Notional Currency |  | Maturity |  | Weighted-Average Years to Maturity
Fx contracts - GBP | 111 |  | 1,013,469 |  | GBP |  | April 2024 - February 2027 |  | 1.01
Fx contracts - EUR | 130 |  | 519,322 |  | EUR |  | April 2024 - August 2026 |  | 0.90
Fx contracts - SEK | 17 |  | 678,464 |  | SEK |  | May 2024 - May 2026 |  | 1.96
Interest rate cap | 1 |  | 164,835 |  | USD |  | October 2024 |  | 0.50
The following table summarizes our non-designated Fx forwards and interest rate cap as of December 31, 2023:
| December 31, 2023
Type of Derivatives | Number of Contracts |  | Aggregate Notional Amount (in thousands) |  | Notional Currency |  | Maturity |  | Weighted-Average Years to Maturity
Fx contracts - GBP | 97 |  | 938,903 |  | GBP |  | January 2024 - February 2027 |  | 1.13
Fx contracts - EUR | 135 |  | 561,441 |  | EUR |  | January 2024 - August 2026 |  | 1.08
Fx contracts - SEK | 17 |  | 690,740 |  | SEK |  | February 2024 - May 2026 |  | 2.16
Interest rate cap | 1 |  | 164,835 |  | USD |  | October 2024 |  | 0.75
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 three months ended March 31, 2024 and 2023 ($ in thousands):
|  |  |  |  |  |  | Amount of gain (loss) recognized in income
|  |  |  |  | Three months ended March 31,
| Location of Gain (Loss) Recognized in Income |  |  |  |  |  | 2024 |  | 2023 |  |
Forward currency contracts | Unrealized gain (loss) on derivative instruments |  |  |  |  |  | $ | 18,053 |  |  | $ | (35,851) |  |  |
Forward currency contracts | Realized gain (loss) on derivative instruments |  |  |  |  |  | 5,345 |  |  | 21,716 |  |  |
Total |  |  |  |  |  |  | $ | 23,398 |  |  | $ | (14,135) |  |  |
The following table summarizes the amounts recognized on our condensed consolidated statements of operations related to our interest rate caps for the three months ended March 31, 2024 and 2023 ($ in thousands):
|  |  |  |  |  | Amount of gain (loss) recognized in income
|  |  |  | Three months ended March 31,
| Location of Gain (Loss) recognized in Income |  |  |  |  | 2024 |  | 2023 |
Interest rate cap | Unrealized gain (loss) on interest rate hedging instruments |  |  |  |  | $ | (194) |  |  | $ | (4,813) |  |
Interest rate cap | Realized gain on interest rate hedging instruments |  |  |  |  | 550 |  |  | 4,706 |  |
Total |  |  |  |  |  | $ | 356 |  |  | $ | (107) |  |
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 March 31, 2024 and December 31, 2023 ($ in thousands):
| March 31, 2024 |  | December 31, 2023
| 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 | $ | 67,402 |  |  | $ | (21,284) |  |  | $ | 46,118 |  |  | $ | 55,102 |  |  | $ | (27,037) |  |  | $ | 28,065 |
Interest rate cap | — |  |  | 1,166 |  |  | 1,166 |  |  | 1,360 |  |  | — |  |  | 1,360 |
Total derivative assets (liabilities) | $ | 67,402 |  |  | $ | (20,118) |  |  | $ | 47,284 |  |  | $ | 56,462 |  |  | $ | (27,037) |  |  | $ | 29,425 |

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