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Derivative Instruments (Tables)
 6 Months Ended
Jun. 30, 2023
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of Notional Amounts of Outstanding Derivative Positions A summary of the Company’s amended interest rate swap contracts with a collective notional amount of $1.1 billion outstanding as of June 30, 2023 is as follows:
Contract InceptionContract End
Fixed Interest Rates Payable by WEX
(prior to amendment)1
Fixed Interest Rates Payable by WEX
(post amendment)
Notional Amount
(in millions)
March 2020December 20231.862%
1.789%2
$200.0 
May 2021May 20240.435%
0.459%3
$150.0 
May 2021May 20240.440%
0.367%2
$150.0 
May 2021May 20250.678%
0.648%2
$300.0 
May 2021May 20260.909%
0.836%2
$150.0 
May 2021May 20260.910%
0.883%2
$150.0 
1 Counterparties paid floating rate equal to the one-month USD LIBOR.
2 Counterparties pay floating rate equal to the one-month USD-SOFR CME Term.
3 Counterparty pays floating rate equal to the one-month USD-SOFR CME Term, plus a spread of 0.114 percent.
Schedule of Location and Amounts of Derivative Gains and Losses in Condensed Consolidated Statements of Income
The following table presents information on the location and amounts of interest rate swap gains and losses:
(In millions)Three Months Ended June 30,Six Months Ended June 30,
Derivatives Not Designated as Hedging InstrumentsLocation of (Loss) Gain Recognized in the Condensed Consolidated Statement of Operations2023202220232022
Interest rate swap contracts – unrealized portionNet unrealized gain (loss) on financial instruments$2.4 $17.8 $(12.5)$68.9 
Interest rate swap contracts –
realized portion		Financing interest expense$11.5 $(3.0)$23.8 $(8.9)