v3.25.2
FINANCIAL INSTRUMENTS (Tables)
6 Months Ended
Jun. 30, 2025
FINANCIAL INSTRUMENTS  
Schedule of fair values of derivatives in the consolidated balance sheets

    

June 30, 

    

December 31,

2025

2024

Derivatives Designated as Hedging Instruments

 

Other assets:

 

Interest rate derivatives

$

27,922

$

12,862

Accounts payable and other accrued liabilities:

 

Interest rate derivatives

$

11,067

$

21,087

Derivatives Not Designated as Hedging Instruments

 

Other assets:

 

Interest rate derivatives

$

10,487

$

21,522

Foreign exchange contracts

 

 

2,996

Total

 

$

10,487

$

24,518

Accounts payable and other accrued liabilities:

 

Interest rate derivatives

$

10,487

$

21,522

Schedule of pre-tax gains (losses) on the consolidated statements of income related to the Company's derivatives

   

Three Months Ended

Six Months Ended

June 30, 

June 30, 

2025

   

2024

   

2025

   

2024

Cash Flow Hedges

 

Recognized in accumulated other comprehensive income (loss):

 

Interest rate derivatives

$

(158)

$

431

 

$

(2,194)

$

3,306

Reclassified from accumulated other comprehensive income (loss):

 

Interest rate derivatives—Interest expense to third parties

$

839

$

1,071

$

1,821

$

1,288

Not Designated as Hedges

 

 

Foreign exchange contracts—Other expenses, net

$

21,263

$

(339)

 

$

21,104

$

(1,243)

Schedule of assets and liabilities measured at fair value on a recurring basis

June 30, 

December 31,

 

2025

    

2024

Assets

 

Interest rate derivatives

$

38,409

$

34,384

Foreign exchange contracts

 

 

2,996

Total assets

 

$

38,409

$

37,380

Liabilities

 

Interest rate derivatives

$

21,554

$

42,609

Schedule of carrying amount and estimated fair value of assets and liabilities considered financial instruments

June 30, 2025

December 31, 2024

    

Carrying

    

Estimated

    

Carrying

    

Estimated

Amount

Fair Value *

Amount

Fair Value *

Receivables

 

$

14,000,141

$

14,001,036

$

13,992,556

$

14,040,507

Long-term debt

$

8,728,806

$

8,813,317

$

8,666,627

$

8,654,374

______________

*

Under the fair value hierarchy, receivables measurements are classified as Level 3 and long-term debt measurements are classified as Level 2.