DERIVATIVE INSTRUMENTS (Tables)

3 Months Ended

Mar. 31, 2025

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of Foreign Currency Forward Contracts

The following tables present the Company’s foreign currency forward contracts as of March 31, 2025 and December 31, 2024:

As of March 31, 2025

($ in thousands)

Description

Notional Amount to be Purchased

Notional Amount to be Sold

Maturity Date

Gross Amount of Recognized Assets (Liabilities)

Balance Sheet Location of Net Amounts

Foreign currency forward contract (AUD)

A$80,356

$50,405

04/07/25

(289)

Derivative liabilities

Foreign currency forward contract (AUD)

$51,149

A$80,356

04/07/25

1,033

Derivative assets

Foreign currency forward contract (AUD)

$50,619

A$80,643

06/30/25

289

Derivative assets

Foreign currency forward contract (CAD)

C$6,750

$4,709

04/07/25

(13)

Derivative liabilities

Foreign currency forward contract (CAD)

$4,784

C$6,750

04/07/25

Derivative assets

Foreign currency forward contract (CAD)

$4,664

C$6,660

06/30/25

Derivative assets

Foreign currency forward contract (DKK)

8,758kr.

$1,271

04/07/25

(4)

Derivative liabilities

Foreign currency forward contract (DKK)

$1,241

8,758kr.

04/07/25

(27)

Derivative liabilities

Foreign currency forward contract (DKK)

$1,280

8,772kr.

06/30/25

Derivative assets

Foreign currency forward contract (EUR)

€231,661

$250,403

04/07/25

(259)

Derivative liabilities

Foreign currency forward contract (EUR)

$244,258

€231,661

04/07/25

(5,885)

Derivative liabilities

Foreign currency forward contract (EUR)

$246,931

€227,190

06/30/25

448

Derivative assets

Foreign currency forward contract (GBP)

£93,717

$120,919

04/07/25

(105)

Derivative liabilities

Foreign currency forward contract (GBP)

$119,332

£93,717

04/07/25

(1,481)

Derivative liabilities

Foreign currency forward contract (GBP)

$123,040

£95,375

06/30/25

Derivative assets

Foreign currency forward contract (NZD)

NZ$10,366

$5,945

04/07/25

(72)

Derivative liabilities

Foreign currency forward contract (NZD)

$6,002

NZ$10,366

04/07/25

130

Derivative assets

Foreign currency forward contract (NZD)

$6,020

NZ$10,477

06/30/25

Derivative assets

Foreign currency forward contract (NOK)

47,039kr

$4,463

04/07/25

Derivative assets

Foreign currency forward contract (NOK)

$4,219

47,039kr

04/07/25

(247)

Derivative liabilities

Foreign currency forward contract (NOK)

$4,466

47,066kr

06/30/25

(3)

Derivative liabilities

Foreign currency forward contract (SEK)

22,446kr

$2,219

04/07/25

Derivative assets

Foreign currency forward contract (SEK)

$2,055

22,446kr

04/07/25

(178)

Derivative liabilities

Foreign currency forward contract (SEK)

$2,256

22,710kr

06/30/25

(15)

Derivative liabilities

Foreign currency forward contract (CHF)

6,869Fr.

$7,788

04/07/25

(18)

Derivative liabilities

Foreign currency forward contract (CHF)

$7,860

6,869Fr.

04/07/25

Derivative assets

Foreign currency forward contract (CHF)

$8,016

7,000Fr.

06/30/25

Derivative assets

Total

(6,298)

As of December 31, 2024

($ in thousands)

Description

Notional Amount to be Purchased

Notional Amount to be Sold

Maturity Date

Gross Amount of Recognized Assets (Liabilities)

Balance Sheet Location of Net Amounts

Foreign currency forward contract (AUD)

A$78,475

$49,966

01/08/25

(1,441)

Derivative liabilities

Foreign currency forward contract (AUD)

$53,704

A$78,475

01/08/25

5,178

Derivative assets

Foreign currency forward contract (AUD)

$50,126

A$78,717

04/07/25

1,443

Derivative assets

Foreign currency forward contract (CAD)

C$6,791

$4,816

01/08/25

(100)

Derivative liabilities

Foreign currency forward contract (CAD)

$5,041

C$6,791

01/08/25

326

Derivative assets

Foreign currency forward contract (CAD)

$4,583

C$6,460

04/07/25

Derivative assets

Foreign currency forward contract (DKK)

8,429kr.

$1,187

01/08/25

(17)

Derivative liabilities

Foreign currency forward contract (DKK)

$1,266

8,429kr.

01/08/25

Derivative assets

Foreign currency forward contract (DKK)

$1,215

8,580kr.

04/07/25

Derivative assets

Foreign currency forward contract (EUR)

€235,300

$247,195

01/08/25

(3,598)

Derivative liabilities

Foreign currency forward contract (EUR)

$263,028

€235,300

01/08/25

19,431

Derivative assets

Foreign currency forward contract (EUR)

$237,739

€225,421

04/07/25

3,408

Derivative assets

Foreign currency forward contract (GBP)

£90,210

$115,059

01/08/25

(2,121)

Derivative liabilities

Foreign currency forward contract (GBP)

$119,845

£90,210

01/08/25

6,907

Derivative assets

Foreign currency forward contract (GBP)

$111,674

£87,646

04/07/25

2,019

Derivative assets

Foreign currency forward contract (NZD)

NZ$10,165

$5,881

01/08/25

(196)

Derivative liabilities

Foreign currency forward contract (NZD)

$6,362

NZ$10,165

01/08/25

676

Derivative assets

Foreign currency forward contract (NZD)

$5,881

NZ$10,155

04/07/25

195

Derivative assets

Foreign currency forward contract (NOK)

45,734kr

$4,098

01/08/25

(76)

Derivative liabilities

Foreign currency forward contract (NOK)

$4,365

45,734kr

01/08/25

343

Derivative assets

Foreign currency forward contract (NOK)

$4,129

46,087kr

04/07/25

Derivative assets

Foreign currency forward contract (SEK)

21,630kr

$1,971

01/08/25

(17)

Derivative liabilities

Foreign currency forward contract (SEK)

$2,135

21,630kr

01/08/25

181

Derivative assets

Foreign currency forward contract (SEK)

$2,007

21,910kr

04/07/25

Derivative assets

Foreign currency forward contract (CHF)

6,485Fr.

$7,354

01/08/25

(202)

Derivative liabilities

Foreign currency forward contract (CHF)

$7,736

6,485Fr.

01/08/25

584

Derivative assets

Foreign currency forward contract (CHF)

$7,521

6,569Fr.

04/07/25

204

Derivative assets

Total

33,416