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Derivatives (Tables)

12 Months Ended

Dec. 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 December 31, 2024:

December 31, 2024

Type of Derivatives

Number of Contracts

Aggregate Notional Amount (in thousands)

Notional Currency

Maturity

Weighted-Average Years to Maturity

Fx contracts - GBP

80

632,702

GBP

January 2025 - August 2027

1.39

Fx contracts - EUR

48

355,218

EUR

January 2025 - August 2026

1.18

Fx contracts - SEK

14

633,231

SEK

February 2025 - May 2026

1.32

Interest rate cap

2

238,535

USD

July 2025 - October 2025

0.67

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 consolidated statements of operations related to our forward currency contracts for the years ended December 31, 2024, 2023 and 2022 ($ in thousands):

				Amount of gain (loss)  recognized in income
				Year Ended December 31,
		Location of Gain (Loss) Recognized in Income		2024				2023				2022
Forward currency contracts		Unrealized gain (loss) on derivative instruments		$	29,687			$	(91,434	)		$	104,159
Forward currency contracts		Realized gain (loss) on derivative instruments			22,903				43,221				42,822
Total				$	52,590			$	(48,213	)		$	146,981

The following table summarizes the amounts recognized on our consolidated statements of operations related to our interest rate caps for the years ended December 31, 2024, 2023 and 2022 ($ in thousands):

				Amount of gain (loss)  recognized in income
				Year Ended December 31,
		Location of Gain (Loss) recognized in Income		2024				2023				2022
Interest rate caps		Unrealized gain (loss) on interest rate hedging instruments		$	(1,373	)		$	(10,098	)		$	7,692
Interest rate caps		Realized gain on interest rate hedging instruments			1,943				9,684				5,671
Total				$	570			$	(414	)		$	13,363

Schedule of Gross Asset and Liability Amounts Related to Derivatives

The following table summarizes the gross asset and liability amounts related to our derivatives at December 31, 2024 and December 31, 2023 ($ in thousands):

		December 31, 2024												December 31, 2023
		Gross Amount of Recognized Assets				Gross Amounts Offset in our Consolidated Balance Sheet				Net Amounts of Assets Presented in our 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		$	59,261			$	(1,508	)		$	57,753			$	55,102			$	(27,037	)		$	28,065
Interest rate caps			416				—				416				1,360				—				1,360
Total derivative assets		$	59,677			$	(1,508	)		$	58,169			$	56,462			$	(27,037	)		$	29,425

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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.

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Tabular disclosure of the notional amounts of outstanding derivative positions.

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