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Derivatives (Tables)

9 Months Ended

Sep. 30, 2025

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of Non-Designated Foreign Exchange Forwards and Interest Rate Caps

The following table summarizes our non-designated Fx forwards and interest rate caps as of September 30, 2025:

September 30, 2025

Type of Derivatives

Number of Contracts

Aggregate Notional Amount (in thousands)

Notional Currency

Maturity

Weighted-Average Years to Maturity

Fx contracts - GBP

144

596,183

GBP

October 2025 - August 2029

1.40

Fx contracts - EUR

26

256,709

EUR

November 2025 - August 2028

0.80

Fx contracts - SEK

11

587,718

SEK

November 2025 - May 2026

0.64

Interest rate caps

2

238,535

USD

October 2025 - September 2026

0.29

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 Condensed 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 and nine months ended September 30, 2025 and 2024 ($ in thousands):

				Amount of gain (loss)  recognized in income								Amount of gain (loss)  recognized in income
				Three Months Ended September 30,								Nine Months Ended September 30,
		Location of Gain (Loss) Recognized in Income		2025				2024				2025				2024
Forward currency contracts		Unrealized gain (loss) on derivative instruments		$	26,788			$	(57,621	)		$	(88,723	)		$	(38,657	)
Forward currency contracts		Realized gain (loss) on derivative instruments			(2,541	)			(1,914	)			(8,141	)			8,897
Total				$	24,247			$	(59,535	)		$	(96,864	)		$	(29,760	)

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, 2025 and 2024 ($ in thousands):

				Amount of gain (loss)  recognized in income								Amount of gain (loss)  recognized in income
				Three Months Ended September 30,								Nine Months Ended September 30,
		Location of Gain (Loss) recognized in Income		2025				2024				2025				2024
Interest rate caps		Unrealized gain (loss) on interest rate hedging instruments		$	(133	)		$	(562	)		$	(379	)		$	(1,213	)
Interest rate caps		Realized gain on interest rate hedging instruments			133				548				402				1,649
Total				$	—			$	(14	)		$	23			$	436

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

		September 30, 2025												December 31, 2024
		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		$	8,139			$	(39,109	)		$	(30,970	)		$	59,261			$	(1,508	)		$	57,753
Interest rate caps			37				—				37				416				—				416
Total derivative assets (liabilities)		$	8,176			$	(39,109	)		$	(30,933	)		$	59,677			$	(1,508	)		$	58,169

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- References

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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.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 4CC
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480434/815-10-50-4CC

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 4C
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480434/815-10-50-4C

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 4A
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480434/815-10-50-4A

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 4A
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480434/815-10-50-4A

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 4E
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480434/815-10-50-4E

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- Definition

Tabular disclosure of pertinent information about a derivative or group of derivatives on a disaggregated basis, such as for individual instruments, or small groups of similar instruments. May include a combination of the type of instrument, risks being hedged, notional amount, hedge designation, related hedged item, inception date, maturity date, or other relevant item.

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- Definition

Tabular disclosure of the notional amounts of outstanding derivative positions.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 815
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1A
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480434/815-10-50-1A

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