v3.26.1
Derivative instruments and hedge accounting (Tables)
6 Months Ended
Jun. 30, 2026
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Summary of Derivative Instruments
 
  
June 30, 2026
 
(in millions of $)
  
Notional
amount
 
  
Derivative assets
 
  
Derivative liabilities
 
  
Other current
assets
 
  
Other non-

current asset
 
  
Other current
liabilities
 
 
Other non-

current
liabilities
 
Interest rate swaps (Euribor)
  
 
877.3
 
  
 
— 
 
  
 
4.2
 
  
 
— 
 
 
 
— 
 
Interest rate swaps (SOFR)
  
 
945.0
 
  
 
— 
 
  
 
9.1
 
  
 
— 
 
 
 
— 
 
  
 
 
 
  
 
 
 
  
 
 
 
  
 
 
 
 
 
 
 
Total—Interest rate
  
 
1,822.3
 
  
 
— 
 
  
 
13.3
 
  
 
— 
 
 
 
— 
 
Foreign currency hedges
  
 
1,809.6
 
  
 
— 
 
  
 
— 
 
  
 
(25.6
 
 
(11.5
  
 
 
 
  
 
 
 
  
 
 
 
  
 
 
 
 
 
 
 
Total—Foreign currency hedges
  
 
1,809.6
 
  
 
— 
 
  
 
— 
 
  
 
(25.6
 
 
(11.5
  
 
 
 
  
 
 
 
  
 
 
 
  
 
 
 
 
 
 
 
Total
  
 
3,631.9
 
  
 
— 
 
  
 
13.3
 
  
 
(25.6
 
 
(11.5
 
    
December 31, 2025
 
(in millions of $)
  
Notional
amount
    
Derivative assets
    
Derivative liabilities
 
  
Other current
assets
    
Other non-

current asset
    
Other current
liabilities
   
Other non-

current
liabilities
 
Interest rate swaps (Euribor)
     904.8        —         0.1        —        (2.5
Interest rate swaps (SOFR)
     945.0        —         —         —        (4.8
  
 
 
    
 
 
    
 
 
    
 
 
   
 
 
 
Total—Interest rate
  
 
1,849.8
 
  
 
— 
 
  
 
0.1
 
  
 
— 
 
 
 
(7.3
Foreign currency hedges
     926.7        3.7        —         (0.3     (0.3
  
 
 
    
 
 
    
 
 
    
 
 
   
 
 
 
Total—Foreign currency hedges
    
926.7
 
  
 
3.7
 
  
 
— 
 
  
 
(0.3
 
 
(0.3
  
 
 
    
 
 
    
 
 
    
 
 
   
 
 
 
Total
  
 
2,776.5
 
  
 
3.7
 
  
 
0.1
 
  
 
(0.3
 
 
(7.6
Summary of Accumulated Other Comprehensive Income Loss For The Interest Rate Hedge Accounting
Amounts deferred in Accumulated other comprehensive income (loss) for the interest rate hedge accounting were reclassified to the consolidated statement of operations as follows:
 
(in millions of $)
  
June 30, 2026
    
June 30, 2025
 
Gains (losses) recognized in OCI
     22.8        (9.7 )
 
Reclassified to interest expense
     (1.9      0.0  
Summary of Amounts Recognized In Statement Of Operation For The Foreign Currency Hedge Accounting
The following table represents the amounts recognized in the statement of operation for the foreign currency hedge accounting, started in August, 2025:
 
(in millions of $)
  
June 30, 2026
    
June 30, 2025
 
Gains (losses) recognized in OCI
     (32.8      —   
Recycled to revenue
     (0.8 )
 
     —   
Changes in spot-forward differential
     11.3        —   
Summary of Derivative Instruments Netting Agreements
Derivative instruments subject to master netting agreements are presented in the following table:
 
 
  
June 30, 2026
 
(in millions of $)
  
Gross
Amounts of
Recognized
Assets/
Liabilities
 
 
Gross
Amounts
Offset in the
Statements
of Financial
Position
 
  
Net Amounts of
Assets/
Liabilities
Presented in
the Statements
of Financial
Position
 
 
Gross Amounts Not Offset
in the Statements of
Financial Position
 
  
Net Amount
 
 
Financial
Instruments
 
  
Cash
Collateral
Received
 
Derivative assets
     13.3        —      
13.3
     —         —         13.3  
From which interest hedges
     13.3        —         13.3        —         —         13.3  
From which FX hedges
     —         —         —         —         —         —   
Derivative liabilities
     (37.1 )
 
     —         (37.1 )
 
     —         —         (37.1 )
 
From which interest hedges
     —         —         —         —         —         —   
From which FX hedges
     (37.1 )      —         (37.1 )      —         —         (37.1 )
 
    
December 31, 2025
 
(in millions of $)
  
Gross
Amounts of
Recognized
Assets/
Liabilities
   
Gross
Amounts
Offset in the
Statement of
Financial
Position
    
Net Amounts of
Assets/
Liabilities
Presented in
the Statements
of Financial
Position
   
Gross Amounts Not Offset
in the Statements of
Financial Position
    
Net Amount
 
 
Financial
Instruments
   
Cash
Collateral
Received
 
Derivative assets
     3.8       —         3.8       (0.2     —         3.6  
From which interest hedges
     0.1       —         0.1       —        —         0.1  
From which FX hedges
     3.7       —         3.7       (0.2     —         3.5  
Derivative liabilities
     (7.9     —         (7.9     0.2       —         (7.7
From which interest hedges
     (7.3     —         (7.3     —        —         (7.3
From which FX hedges
     (0.6     —         (0.6     0.2       —         (0.4