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Derivatives (Tables)

3 Months Ended

Mar. 31, 2025

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 caps as of March 31, 2025:

March 31, 2025

Type of Derivatives

Number of Contracts

Aggregate Notional Amount (in thousands)

Notional Currency

Maturity

Weighted-Average Years to Maturity

Fx contracts - GBP

88

626,454

GBP

April 2025 - March 2028

1.44

Fx contracts - EUR

44

341,860

EUR

April 2025 - August 2026

0.98

Fx contracts - SEK

13

617,606

SEK

May 2025 - May 2026

1.10

Interest rate caps

2

238,535

USD

July 2025 - October 2025

0.43

The following table summarizes our non-designated Fx forwards and interest rate caps 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 caps

2

238,535

USD

July 2025 - October 2025

0.67

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, 2025 and 2024 ($ in thousands):

				Amount of gain (loss)  recognized in income
				Three Months Ended March 31,
		Location of Gain (Loss) Recognized in Income		2025				2024
Forward currency contracts		Unrealized gain (loss) on derivative instruments		$	(41,829	)		$	18,053
Forward currency contracts		Realized gain (loss) on derivative instruments			2,857				5,345
Total				$	(38,972	)		$	23,398

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, 2025 and 2024 ($ in thousands):

				Amount of gain (loss)  recognized in income
				Three Months Ended March 31,
		Location of Gain (Loss) recognized in Income		2025				2024
Interest rate caps		Unrealized gain (loss) on interest rate hedging instruments		$	(174	)		$	(194	)
Interest rate caps		Realized gain on interest rate hedging instruments			132				550
Total				$	(42	)		$	356

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, 2025 and December 31, 2024 ($ in thousands):

		March 31, 2025												December 31, 2024
		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		$	27,481			$	(11,557	)		$	15,924			$	59,261			$	(1,508	)		$	57,753
Interest rate caps			243				—				243				416				—				416
Total derivative assets		$	27,724			$	(11,557	)		$	16,167			$	59,677			$	(1,508	)		$	58,169

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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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