v3.26.1
Derivatives (Tables)
6 Months Ended
Jun. 30, 2026
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of Non-Designated Foreign Exchange Forwards and Interest Rate Caps

The following table summarizes our non-designated Fx forwards and interest rate cap as of December 31, 2025. As previously stated, we did not hold any forward currency contracts or interest rate caps as of June 30, 2026.

 

 

December 31, 2025

 

Type of Derivatives

 

Number of
Contracts

 

 

Aggregate
Notional Amount
(in thousands)

 

 

Notional
Currency

 

Maturity

 

Weighted-Average
Years to Maturity

 

Fx contracts - GBP

 

 

153

 

 

 

577,672

 

 

GBP

 

January 2026 - August 2029

 

 

1.46

 

Fx contracts - EUR

 

 

21

 

 

 

254,588

 

 

EUR

 

February 2026 - December 2028

 

 

1.55

 

Fx contracts - SEK

 

 

10

 

 

 

558,278

 

 

SEK

 

February 2026 - May 2026

 

 

0.40

 

Interest rate cap

 

 

1

 

 

 

73,700

 

 

USD

 

September 2026

 

 

0.67

 

Schedule of Amounts Recognized on Condensed Consolidated Statements of Operations Related to Company's Derivatives The following table summarizes the amounts recognized on our condensed consolidated statements of operations related to our forward currency contracts for the three and six months ended June 30, 2026 and 2025 ($ in thousands):

 

 

 

 

Amount of gain (loss)
 recognized in income

 

 

Amount of gain (loss)
 recognized in income

 

 

 

 

Three Months Ended June 30,

 

 

Six Months Ended June 30,

 

 

Location of Gain (Loss) Recognized in Income

 

2026

 

 

2025

 

 

2026

 

 

2025

 

Forward currency contracts

 

Unrealized gain (loss) on derivative instruments

 

$

(17,772

)

 

$

(73,682

)

 

$

26,722

 

 

$

(115,511

)

Forward currency contracts

 

Realized loss on derivative instruments

 

 

(254

)

 

 

(8,457

)

 

 

(27,936

)

 

 

(5,600

)

Total

 

 

 

$

(18,026

)

 

$

(82,139

)

 

$

(1,214

)

 

$

(121,111

)

 

The following table summarizes the amounts recognized on our condensed consolidated statements of operations related to our interest rate caps for the three and six months ended June 30, 2026 and 2025 ($ in thousands):

 

 

 

 

Amount of gain (loss)
 recognized in income

 

 

Amount of gain (loss)
 recognized in income

 

 

 

 

Three Months Ended June 30,

 

 

Six Months Ended June 30,

 

 

Location of Gain (Loss) recognized in Income

 

2026

 

 

2025

 

 

2026

 

 

2025

 

Interest rate caps

 

Unrealized loss on interest rate hedging instruments

 

$

 

 

$

(72

)

 

$

 

 

$

(246

)

Interest rate caps

 

Realized gain on interest rate hedging instruments

 

 

 

 

 

137

 

 

 

 

 

 

269

 

Total

 

 

 

$

 

 

$

65

 

 

$

 

 

$

23

 

Schedule of Gross Asset and Liability Amounts Related to Derivatives

The following table summarizes the gross asset and liability amounts related to our derivatives at December 31, 2025 ($ in thousands):

 

 

December 31, 2025

 

 

Gross
Amount of
Recognized
Assets

 

 

Gross
Amounts
Offset in our
 Consolidated
Balance Sheet

 

 

Net Amounts
of Assets
Presented in our
Consolidated
Balance Sheet

 

Forward currency contracts

 

$

7,464

 

 

$

(34,255

)

 

$

(26,791

)

Interest rate caps

 

 

 

 

 

 

 

 

 

Total derivative assets (liabilities)

 

$

7,464

 

 

$

(34,255

)

 

$

(26,791

)