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Derivatives (Tables)
 12 Months Ended
Dec. 31, 2019
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of Derivative Assets at Fair Value
As of December 31, 2019 and December 31, 2018, fair value of derivative assets and derivative liabilities were as follows (dollars in thousands):
 
 
December 31, 2019
 
December 31, 2018
 
 
Designated Hedges
 
Non-Designated Hedges
 
Total
 
Designated Hedges
 
Non-Designated Hedges
 
Total
Derivative Assets
 
 
 
 
 
 
 
 
 
 
 
 
Foreign exchange contracts
 
$
—

 
$
4,122

 
$
4,122

 
$
11,312

 
$
2,796

 
$
14,108

Interest rate contracts
 
—

 
—

 
—

 
—

 
31

 
31

Included in other assets
 
$
—

 
$
4,122

 
$
4,122

 
$
11,312

 
$
2,827

 
$
14,139

Derivative Liabilities
 
 
 
 
 
 
 
 
 
 
 
 
Foreign exchange contracts
 
$
(2,128
)
 
$
(29
)
 
$
(2,157
)
 
$
(10
)
 
$
—

 
$
(10
)
Interest rate contracts
 
—

 
(16,976
)
 
(16,976
)
 
—

 
(6,032
)
 
(6,032
)
Included in accrued and other liabilities
 
$
(2,128
)
 
$
(17,005
)
 
$
(19,133
)
 
$
(10
)
 
$
(6,032
)
 
$
(6,042
)
Schedule of Derivative Liabilities at Fair Value
As of December 31, 2019 and December 31, 2018, fair value of derivative assets and derivative liabilities were as follows (dollars in thousands):
 
 
December 31, 2019
 
December 31, 2018
 
 
Designated Hedges
 
Non-Designated Hedges
 
Total
 
Designated Hedges
 
Non-Designated Hedges
 
Total
Derivative Assets
 
 
 
 
 
 
 
 
 
 
 
 
Foreign exchange contracts
 
$
—

 
$
4,122

 
$
4,122

 
$
11,312

 
$
2,796

 
$
14,108

Interest rate contracts
 
—

 
—

 
—

 
—

 
31

 
31

Included in other assets
 
$
—

 
$
4,122

 
$
4,122

 
$
11,312

 
$
2,827

 
$
14,139

Derivative Liabilities
 
 
 
 
 
 
 
 
 
 
 
 
Foreign exchange contracts
 
$
(2,128
)
 
$
(29
)
 
$
(2,157
)
 
$
(10
)
 
$
—

 
$
(10
)
Interest rate contracts
 
—

 
(16,976
)
 
(16,976
)
 
—

 
(6,032
)
 
(6,032
)
Included in accrued and other liabilities
 
$
(2,128
)
 
$
(17,005
)
 
$
(19,133
)
 
$
(10
)
 
$
(6,032
)
 
$
(6,042
)
Schedule of Derivative Instruments
The following table summarizes the foreign exchange and interest rate contracts as of December 31, 2019:
Type of Derivatives
 
Notional Currency
 
Notional Amount (in thousands)
 
Range of Maturity Dates
Designated
 
Non-Designated
FX Forward
 
EUR
 
€
164,686

 
€
—

 
June 2020 - June 2023
FX Forward
 
NOK
 
NOK 585,600

 
NOK 318,400

 
January 2020 - July 2023
Interest Rate Swap
 
USD
 
$
—

 
$
403,838

 
April 2020 - August 2028
The table below represents the effect of the derivative financial instruments on the consolidated statements of operations and of comprehensive income (loss) for the years ended December 31, 2019 and 2018 (dollars in thousands):
 
 
Year Ended December 31,
 
 
2019
 
2018
Other gain (loss), net
 
 
 
 
Non-designated foreign exchange contracts
 
$
1,286

 
$
2,796

Non-designated interest rate contracts
 
(10,966
)
 
(6,001
)
 
 
$
(9,680
)
 
$
(3,205
)
Accumulated other comprehensive income (loss)
 
 
 
 
Designated foreign exchange contracts
 
$
15,460

 
$
11,305

 
 
$
15,460

 
$
11,305

Interest income
 
 
 

Non-designated interest rate contracts
 
$
—

 
$
2,176
Offsetting Derivative Assets
The following table sets forth derivative positions where the Company has a right of offset under netting arrangements with the same counterparty as of December 31, 2019 and December 31, 2018 (dollars in thousands):
 
 
Gross Amounts of Assets (Liabilities) Included on Consolidated Balance Sheets
 
Gross Amounts Not Offset on Consolidated Balance Sheets
 
Net Amounts of Assets (Liabilities)
(Assets) Liabilities
 
Cash Collateral Pledged
December 31, 2019
 
 
 
 
 
 
 
 
Derivative Assets
 
 
 
 
 
 
 
 
Foreign exchange contracts
 
$
4,122

 
$
(2,157
)
 
$
—

 
$
1,965

Interest rate contracts
 
—

 
—

 
—

 
—

 
 
$
4,122

 
$
(2,157
)
 
$
—

 
$
1,965

Derivative Liabilities
 
 
 
 
 
 
 
 
Foreign exchange contracts
 
$
(2,157
)
 
$
2,157

 
$
—

 
$
—

Interest rate contracts
 
(16,976
)
 
—

 
16,976

 
—

 
 
$
(19,133
)
 
$
2,157

 
$
16,976

 
$
—

 
 
 
 
 
 
 
 
 
December 31, 2018
 
 
 
 
 
 
 
 
Derivative Assets
 
 
 
 
 
 
 
 
Foreign exchange contracts
 
$
14,108

 
$
(10
)
 
$
—

 
$
14,098

Interest rate contracts
 
31

 
—

 
—

 
31

 
 
$
14,139

 
$
(10
)
 
$
—

 
$
14,129

Derivative Liabilities
 
 
 
 
 
 
 
 
Foreign exchange contracts
 
$
(10
)
 
$
10

 
$
—

 
$
—

Interest rate contracts
 
(6,032
)
 
—

 
5,490

 
(542
)
 
 
$
(6,042
)
 
$
10

 
$
5,490

 
$
(542
)
Offsetting Derivative Liabilities
The following table sets forth derivative positions where the Company has a right of offset under netting arrangements with the same counterparty as of December 31, 2019 and December 31, 2018 (dollars in thousands):
 
 
Gross Amounts of Assets (Liabilities) Included on Consolidated Balance Sheets
 
Gross Amounts Not Offset on Consolidated Balance Sheets
 
Net Amounts of Assets (Liabilities)
(Assets) Liabilities
 
Cash Collateral Pledged
December 31, 2019
 
 
 
 
 
 
 
 
Derivative Assets
 
 
 
 
 
 
 
 
Foreign exchange contracts
 
$
4,122

 
$
(2,157
)
 
$
—

 
$
1,965

Interest rate contracts
 
—

 
—

 
—

 
—

 
 
$
4,122

 
$
(2,157
)
 
$
—

 
$
1,965

Derivative Liabilities
 
 
 
 
 
 
 
 
Foreign exchange contracts
 
$
(2,157
)
 
$
2,157

 
$
—

 
$
—

Interest rate contracts
 
(16,976
)
 
—

 
16,976

 
—

 
 
$
(19,133
)
 
$
2,157

 
$
16,976

 
$
—

 
 
 
 
 
 
 
 
 
December 31, 2018
 
 
 
 
 
 
 
 
Derivative Assets
 
 
 
 
 
 
 
 
Foreign exchange contracts
 
$
14,108

 
$
(10
)
 
$
—

 
$
14,098

Interest rate contracts
 
31

 
—

 
—

 
31

 
 
$
14,139

 
$
(10
)
 
$
—

 
$
14,129

Derivative Liabilities
 
 
 
 
 
 
 
 
Foreign exchange contracts
 
$
(10
)
 
$
10

 
$
—

 
$
—

Interest rate contracts
 
(6,032
)
 
—

 
5,490

 
(542
)
 
 
$
(6,042
)
 
$
10

 
$
5,490

 
$
(542
)