Offsetting assets and liabilities (Tables)

12 Months Ended

Dec. 31, 2023

Offsetting assets and liabilities

Schedule of effect of offsetting recognized assets and liabilities

							Gross amounts not offset in the Consolidated Balance Sheets(1)
(in thousands)	Gross amounts of Assets / Liabilities		Gross amounts offset		Balance in Consolidated Balance Sheets		Financial Instruments		Cash Collateral Received / Paid		Net Amount
December 31, 2023
Assets
Interest rate swaps	$	36,812	$	34,408	$	2,404	$	—	$	—	$	2,404
Total	$	36,812	$	34,408	$	2,404	$	—	$	—	$	2,404
Liabilities
FX forwards		212		—		212		—		—		212
Secured borrowings		2,102,075		—		2,102,075		2,102,075		—		—
PPPLF		36,036		—		36,036		34,596		—		1,440
Total	$	2,138,323	$	—	$	2,138,323	$	2,136,671	$	—	$	1,652
December 31, 2022
Assets
FX forwards		1,123		—		1,123		—		—		1,123
Interest rate swaps		53,229		41,820		11,409		—		—		11,409
Total	$	54,352	$	41,820	$	12,532	$	—	$	—	$	12,532
Liabilities
FX forwards		1,319		—		1,319		—		—		1,319
Secured borrowings		2,663,735		—		2,663,735		2,663,735		—		—
PPPLF		201,011		—		201,011		186,985		—		14,026
Total	$	2,866,065	$	—	$	2,866,065	$	2,850,720	$	—	$	15,345

(1) Amounts presented in these columns are limited in total to the net amount of assets or liabilities presented in the prior column by instrument. In certain cases, there is excess cash collateral or financial assets the Company has pledged to a counterparty that exceed the financial liabilities subject to a master netting repurchase arrangement or similar agreement. Additionally, in certain cases, counterparties may have pledged excess cash collateral to the Company that exceeds the Company’s corresponding financial assets. In each case, any of these excess amounts are excluded from the table although they are separately reported in the Company’s consolidated balance sheets as assets or liabilities, respectively.