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Financial Instruments (Tables)

3 Months Ended

Mar. 31, 2023

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Fair Value of Derivatives Held

The fair values of derivative instruments held as of March 31, 2023 and December 31, 2022, respectively are shown below:

			Balance sheet location						March 31, 2023						December 31, 2022
Derivative assets
Derivatives designated as cash flow hedges:
Interest rate caps			Prepaid and other current assets						$	15,996					$	18,510
Interest rate caps			Other long-term assets						10,516						15,864
Total derivative assets									$	26,512					$	34,374
Derivative liabilities
Derivatives designated as cash flow hedges:
Interest rate caps			Other long-term liabilities						3,815						2,071
Total derivative liabilities									$	3,815					$	2,071

Effect of Derivative Instruments Designated as Hedges on Other Comprehensive Income

The following table shows the effect of the Company’s derivative instruments designated as cash flow hedges on AOCI for the three months ended March 31, 2023 and 2022, respectively:

												Three months ended March 31,
												2023												2022
						Location of gain (loss) reclassified from AOCI into income						Amount of gain (loss) recognized in OCI on derivatives						Amount of gain (loss) reclassified from AOCI into income						Amount of gain (loss) recognized in OCI on derivatives						Amount of gain (loss) reclassified from AOCI into income
Interest rate caps						Interest (expense) income						$	(9,605)					$	698					$	17,612					$	(683)

Schedule of Cash Flow Hedges Included in Accumulated Other Comprehensive Income (Loss)

The following table shows the effect of the Company’s cash flow hedge accounting on the condensed consolidated statements of income for the three months ended March 31, 2023 and 2022, respectively:

												Three months ended March 31,
												2023												2022
Total amounts of income and expense line items presented in the statement of income in which the effects of cash flow hedges are recorded in interest (expense) income												$	(9,832)											$	(8,450)
The effects of cash flow hedging:
Gain (loss) on cash flow hedging relationships:
Interest contracts:
Amount of gain (loss) reclassified from AOCI into income												698												(683)

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- Definition

Tabular disclosure of gain (loss) on derivative and nonderivative instruments designated and qualifying as cash flow hedge recorded in accumulated other comprehensive income (AOCI) and reclassified into earnings.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4C
-Subparagraph (c)
-URI https://asc.fasb.org/extlink&oid=125515794&loc=SL5624171-113959

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- Definition

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
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4E
-URI https://asc.fasb.org/extlink&oid=125515794&loc=SL5624181-113959

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4A
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=125515794&loc=SL5618551-113959

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4C
-URI https://asc.fasb.org/extlink&oid=125515794&loc=SL5624171-113959

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- Definition

Tabular disclosure of the location and fair value amounts of derivative instruments (and nonderivative instruments that are designated and qualify as hedging instruments) reported in the statement of financial position.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4B
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