v3.25.2
Derivative instruments and hedging activities (Tables)
 6 Months Ended
Jun. 30, 2025
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of Notional Amounts of Derivatives
As of June 30, 2025, the Company had the following outstanding effective interest rate derivatives that were designated as cash flow hedging instruments.
Number of InstrumentsNotionalMaturity Date
Interest rate derivatives:(in millions)
Interest rate swap3USD1,000 December 31, 2025
Interest rate cap3USD1,500 January 9, 2026
Total6USD2,500 
Derivative Instruments, Gain (Loss)
The table below presents the effect of the Company’s interest rate derivatives that are designated as hedging instruments in the condensed consolidated statements of operations and comprehensive income (loss) (in millions). Gain (loss) reclassified from accumulated other comprehensive income (“AOCI”) into earnings for interest rate contracts is presented in Interest expense, net.
Interest Rate Derivatives in Cash Flow Hedging RelationshipsAmount of Gain (Loss) Recognized in OCI on DerivativesAmount of Gain (Loss) Reclassified from AOCI into Earnings
Three Months Ended June 30,Three Months Ended June 30,
2025202420252024
Included in effectiveness testing$3 $11 $19 $25 
Total$3 $11 $19 $25 
Interest Rate Derivatives in Cash Flow Hedging RelationshipsAmount of Gain (Loss) Recognized in OCI on DerivativesAmount of Gain (Loss) Reclassified from AOCI into Earnings
Six Months Ended June 30,Six Months Ended June 30,
2025202420252024
Included in effectiveness testing$4 $43 $38 $51 
Excluded from effectiveness testing and recognized in earnings based on an amortization approach— (3)— (1)
Total$4 $40 $38 $50