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Derivatives (Tables) | 9 Months Ended
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Sep. 30, 2023
Derivative Instruments and Hedging Activities Disclosure [Abstract] |
Schedule of Derivative Instruments | The following table summarizes the fair value of derivative instruments as of September 30, 2023 and December 31, 2022 (amounts in thousands):
|  | September 30, 2023 |  | December 31, 2022
|  | Balance Sheet Location |  | Fair Value |  | Balance Sheet Location |  | Fair Value
Derivatives designated as hedging instruments: |  |  |  |  |  |  |  |
Interest rate contracts |  | Other assets |  | $ | 32,482 |  |  | Other assets |  | $ | 37,305 |
Interest rate contracts |  | Other liabilities |  | 3,195 |  |  | Other liabilities |  | — |
Derivatives not designated as hedging instruments: |  |  |  |  |  |  |  |
Foreign currency contracts |  | Other assets |  | 10,380 |  |  | Other assets |  | 487 |
Foreign currency contracts |  | Other liabilities |  | 206 |  |  | Other liabilities |  | 19,120 |
Schedule of Cash Flow Hedging Instruments, Statements of Financial Performance and Financial Position, Location | The following tables summarize the effects of derivatives designated as cash flow hedging instruments on the Company's Consolidated Financial Statements for the three and nine months ended September 30, 2023 and 2022 (amounts in thousands):
|  | Gain/(loss) recognized in OCI, net of tax
|  | Three Months Ended September 30, |  | Nine Months Ended September 30,
Derivatives designated as cash flow hedging instruments |  | 2023 |  | 2022 |  | 2023 |  | 2022
Interest rate contracts |  | $ | (2,712) |  |  | $ | 19,983 |  |  | $ | 7,430 |  |  | $ | 41,106 |
|  | Gain/(loss) reclassified from OCI into income
|  | Three Months Ended September 30, |  | Nine Months Ended September 30,
Location of gain/(loss) reclassified from OCI into income |  | 2023 |  | 2022 |  | 2023 |  | 2022
Interest expense, net |  | $ | 6,498 |  |  | $ | 383 |  |  | $ | 18,666 |  |  | $ | (3,819) |
Schedule of derivative instruments not designated as hedging instruments | The following table summarizes the effects of derivatives not designated as hedging instruments on the Company's Consolidated Income Statements for the three and nine months ended September 30, 2023 and 2022 (amounts in thousands):
|  |  |  | Gain/(loss) recognized in income
|  |  |  | Three Months Ended September 30,
Derivatives not designated as hedging instruments |  | Location of gain/(loss) recognized in income |  | 2023 |  | 2022
Foreign currency contracts |  | Foreign exchange gain, net |  | $ | 8,137 |  |  | $ | 33,019 |
Foreign currency contracts |  | Interest expense, net |  | 204 |  |  | 313 |
|  |  |  | Gain/(loss) recognized in income
|  |  |  | Nine Months Ended September 30,
Derivatives not designated as hedging instruments |  | Location of gain/(loss) recognized in income |  | 2023 |  | 2022
Foreign currency contracts |  | Foreign exchange gain/(loss), net |  | $ | (7,149) |  |  | $ | 72,371 |
Foreign currency contracts |  | Interest expense, net |  | 1,357 |  |  | (638) |

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- Definition Tabular disclosure for cash flow hedging instruments of (a) the location and amount of gains and losses reported in the statement of financial performance and (b) the location and fair value amounts of the instruments reported in the statement of financial position. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4C -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480434/815-10-50-4C + Details
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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. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 2 -SubTopic 10 -Topic 815 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480434/815-10-50-2 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 1A -Publisher FASB -URI https://asc.fasb.org//1943274/2147480434/815-10-50-1A Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 1B -Publisher FASB -URI https://asc.fasb.org//1943274/2147480434/815-10-50-1B Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 8 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480434/815-10-50-8 Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4B -Publisher FASB -URI https://asc.fasb.org//1943274/2147480434/815-10-50-4B Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 1 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480434/815-10-50-1 Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480434/815-10-50-4 Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 5 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480434/815-10-50-5 Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4C -Publisher FASB -URI https://asc.fasb.org//1943274/2147480434/815-10-50-4C + Details
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