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Derivative Financial Instruments (Tables)
 9 Months Ended
Sep. 30, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Summary of Company’s Outstanding Derivatives
The following table details the Company’s outstanding derivatives:
Notional Amount
Financial InstrumentsNumber of InstrumentsWeighted Average Maturity DateSeptember 30, 2024December 31, 2023
Derivatives designated as hedging instruments
Interest rate swaps71/4/2028$1,344,392 $1,242,480 
Interest rate caps— N/A— 519,000 
Derivatives not designated as hedging instruments
Foreign currency forward contracts (1)
312/6/2028131,037 131,037 
Foreign currency option contracts (1)
211/30/2028104,370 104,370 
Total $1,579,799 $1,996,887 
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(1)The notional amount reflects the balance we expect to settle at the maturity date based on the contractual strike price at trade execution.
Summary of Derivative Financial Instruments as well as Their Classification
The fair value of our derivative financial instruments as well as their classification on our Condensed Consolidated Balance Sheets as of September 30, 2024 and December 31, 2023 is detailed below.
Asset DerivativesLiability Derivatives
Fair ValueFair Value
Balance Sheet
Location		September 30, 2024December 31, 2023Balance Sheet
Location		September 30, 2024December 31, 2023
Derivatives Designated as Hedging Instruments
Interest rate swapsOther Assets$— $1,654 Other Liabilities$15,280 $6,305 
Interest rate capsOther Assets— 6,945 Other Liabilities— — 
Total Derivatives Designated as Hedging Instruments$— $8,599 $15,280 $6,305 
Derivatives Not Designated as Hedging Instruments
Foreign currency forward contractsOther Assets$36 $— Other Liabilities$7,043 $6,820 
Foreign currency option contractsOther Assets4,269 5,065 Other Liabilities— — 
Total Derivatives Not Designated as Hedging Instruments$4,305 $5,065 $7,043 $6,820 
Summary Of Company’s Derivative Financial Instrument
The following table details the effect of the Company’s derivative financial instrument on the Condensed Consolidated Statement of Operations during the three months ended September 30, 2024 and 2023:
Amount of
Unrealized Gain
(Loss) Recognized
in OCI		Location of Gain
(Loss) Recognized in
Income on Derivatives		Amount of Gain (Loss)
Reclassified from
Accumulated OCI into Income
Derivatives Designated as Hedging InstrumentsSeptember 30, 2024September 30, 2023September 30, 2024September 30, 2023
Interest rate swap$(28,741)$11,179 Interest Expense$5,470 $3,909 
Interest rate caps397 (38)Interest Expense1,423 3,435 
Total Derivatives Designated as Hedging Instruments$(28,344)$11,141 $6,893 $7,344 
The following table details the effect of the Company’s derivative financial instrument on the Condensed Consolidated Statement of Operations during the nine months ended September 30, 2024 and 2023:
Amount of
Unrealized Gain
(Loss) Recognized
in OCI		Location of Gain
(Loss) Recognized in
Income on Derivatives		Amount of Gain (Loss)
Reclassified from
Accumulated OCI into
Income
Derivatives Designated as Hedging InstrumentsSeptember 30, 2024September 30, 2023September 30, 2024September 30, 2023
Interest rate swap$5,240 $24,599 Interest Expense$15,835 $9,226 
Interest rate caps6,053 143 Interest Expense6,053 8,701 
Total Derivatives Designated as Hedging Instruments$11,293 $24,742 $21,888 $17,927 
The following table details the effect of the Company’s derivative financial instruments not designated as hedging instruments on the Condensed Consolidated Statement of Operations for the three and nine months ended September 30, 2024 and 2023:
Income Statement LocationThree Months EndedNine Months Ended
Derivatives Not Designated as Hedging InstrumentsSeptember 30, 2024September 30, 2023September 30, 2024September 30, 2023
Foreign currency forward contractsOther Expense $3,084 $— $187 $— 
Foreign currency option contractsOther (Income) Expense(912)— 796 — 
Total Derivatives Not Designated as Hedging Instruments$2,172 $— $983 $—