Offsetting assets and liabilities (Tables)

6 Months Ended

Jun. 30, 2024

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
June 30, 2024
Assets
FX forwards	$	343	$	—	$	343	$	—	$	—	$	343
Interest rate swaps		55,770		41,731		14,039		—		—		14,039
Total	$	56,113	$	41,731	$	14,382	$	—	$	—	$	14,382
Liabilities
Interest rate swaps		2,038		—		2,038		—		—		2,038
FX forwards		600		—		600		—		—		600
Secured borrowings		2,311,969		—		2,311,969		2,311,969		—		—
PPPLF		24,830		—		24,830		23,735		—		1,095
Total	$	2,339,437	$	—	$	2,339,437	$	2,335,704	$	—	$	3,733
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

(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.