v3.25.4
OFFSETTING ASSETS AND LIABILITIES
 12 Months Ended
Dec. 31, 2025
Offsetting [Abstract]  
OFFSETTING ASSETS AND LIABILITIES
8. OFFSETTING ASSETS AND LIABILITIES
 
The following tables present both gross information and net information about derivatives and other instruments eligible for offset in the statement of financial position as of December 31, 2025 and December 31, 2024. The Company’s accounting policy is to record derivative asset and liability positions on a gross basis; therefore, the following tables present the gross derivative asset and liability positions recorded on the balance sheets, while also disclosing the eligible amounts of financial instruments and cash collateral to the extent those amounts could offset the gross amount of derivative asset and liability positions. The actual amounts of collateral posted by or received from counterparties may be in excess of the amounts disclosed in the following tables as the following only disclose amounts eligible to be offset to the extent of the recorded gross derivative positions.

The following table represents offsetting of financial assets and derivative assets as of December 31, 2025 ($ in thousands): 
DescriptionGross amounts of
recognized assets		Gross amounts
offset in the
balance sheet		Net amounts of
assets presented
in the balance
sheet		Gross amounts not offset in the
balance sheet		Net amount
Financial
instruments		Cash collateral
received/(posted)(1)
Derivatives$264 $— $264 $— $(574)$(310)
Total$264 $— $264 $— $(574)$(310)
(1)Included in restricted cash on consolidated balance sheet.
The following table represents offsetting of financial liabilities and derivative liabilities as of December 31, 2025 ($ in thousands): 
DescriptionGross amounts of
recognized
liabilities		Gross amounts
offset in the
balance sheet		Net amounts of
liabilities
presented in the
balance sheet		Gross amounts not offset in the
balance sheet		Net amount
Financial
instruments
collateral		Cash collateral
posted/(received)(1)
Repurchase agreements$627,012 $— $627,012 $627,012 $— $627,012 
Total$627,012 $— $627,012 $627,012 $— $627,012 
(1)Included in restricted cash on consolidated balance sheet.
The following table represents offsetting of financial assets and derivative assets as of December 31, 2024 ($ in thousands):
DescriptionGross amounts of
recognized assets		Gross amounts
offset in the
balance sheet		Net amounts of
assets presented
in the balance
sheet		Gross amounts not offset in the
balance sheet		Net amount
Financial
instruments		Cash collateral
received/(posted)(1)
Derivatives$437 $— $437 $— $— $437 
Total$437 $— $437 $— $— $437 
(1)Included in restricted cash on consolidated balance sheet.
The following table represents offsetting of financial liabilities and derivative liabilities as of December 31, 2024 ($ in thousands):
DescriptionGross amounts of
recognized
liabilities		Gross amounts
offset in the
balance sheet		Net amounts of
liabilities
presented in the
balance sheet		Gross amounts not offset in the
balance sheet		Net amount
Financial
instruments
collateral		Cash collateral
posted/(received)(1)
Repurchase agreements$62,738 $— $62,738 $62,738 $— $62,738 
Total$62,738 $— $62,738 $62,738 $— $62,738 
(1)Included in restricted cash on consolidated balance sheet.
Master netting agreements that the Company has entered into with its derivative and repurchase agreement counterparties allow for netting of the same transaction, in the same currency, on the same date. Assets, liabilities, and collateral subject to master netting agreements as of December 31, 2025 and December 31, 2024 are disclosed in the tables above. The Company does not present its derivative and repurchase agreements net on the consolidated financial statements as it has elected gross presentation.