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DERIVATIVE INSTRUMENTS (Tables)

12 Months Ended

Dec. 31, 2025

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Certain information related to the Company’s foreign currency forward derivative instruments as of December 31, 2025 and 2024 is presented below.


	As of December 31, 2025
Derivative Instrument	Notional Amount		Gross Amount of Recognized Assets		Gross Amount of Recognized Liabilities		Balance Sheet Location of Net Amounts
Foreign currency forward contract	¥	8,131	$	58	$	(56)	Other assets
Foreign currency forward contract	CAD	402	290		(295)		Accounts payable and other liabilities
Foreign currency forward contract	£	304	367		(369)		Accounts payable and other liabilities
Foreign currency forward contract	£	238	312		(315)		Accounts payable and other liabilities
Foreign currency forward contract	€	180	210		(212)		Accounts payable and other liabilities
Foreign currency forward contract	€	155	181		(182)		Accounts payable and other liabilities
Foreign currency forward contract	CAD	148	107		(109)		Accounts payable and other liabilities
Foreign currency forward contract	NZD	64	37		(37)		Other assets
Foreign currency forward contract	NOK	64	6		(6)		Other assets
Foreign currency forward contract	AUD	22	15		(15)		Accounts payable and other liabilities
Total			$	1,583	$	(1,596)


	As of December 31, 2024
Derivative Instrument	Notional Amount		Gross Amount of Recognized Assets		Gross Amount of Recognized Liabilities		Balance Sheet Location of Net Amounts
Foreign currency forward contract	CAD	240	$	184	$	(179)	Other assets
Foreign currency forward contract	CAD	188	133		(131)		Other assets
Foreign currency forward contract	€	182	195		(189)		Other assets
Foreign currency forward contract	£	133	168		(166)		Other assets
Foreign currency forward contract	€	103	109		(105)		Other assets
Foreign currency forward contract	NOK	97	96		(96)		Other assets
Foreign currency forward contract	£	74	95		(93)		Other assets
Foreign currency forward contract	NZD	68	41		(38)		Other assets
Foreign currency forward contract	NOK	63	6		(6)		Other assets
Foreign currency forward contract	AUD	21	14		(14)		Other assets
Total			$	1,041	$	(1,017)

Schedule of Net Realized and Unrealized Gains (Losses) on Derivative Instruments

Net realized and unrealized gains and losses on derivative instruments not designated as a qualifying hedge accounting relationship recognized by the Company for the years ended December 31, 2025, 2024 and 2023 is in the following location in the consolidated statements of operations:


		For the Years Ended December 31,
Derivative Instrument	Statement Location		2025		2024		2023

Foreign currency forward contract	Net realized gains (losses) from foreign currency and other transactions		$	(8)	$	(1)	$	(13)
Foreign currency forward contract	Net unrealized gains (losses) from foreign currency and other transactions		$	(39)	$	51	$	(5)

Schedule of Interest Rate Swap Instruments

As of December 31, 2025 and 2024, the counterparties to each of the Company’s interest rate swaps were Wells Fargo Bank, N.A or SMBC Capital Markets, Inc. Certain information related to the Company’s interest rate swaps as of December 31, 2025 is presented below.


Description	Hedged Item	Company Receives		Company Pays	Maturity Date	Notional Amount
Interest rate swap	January 2027 Notes	7.000	%	SOFR +2.5810%	January 15, 2027	$	900
Interest rate swap	March 2029 Notes	5.875	%	SOFR +2.0230%	March 1, 2029	$	1,000
Interest rate swap	July 2029 Notes	5.950	%	SOFR +1.6430%	July 15, 2029	$	850
Interest rate swap	September 2030 Notes	5.500	%	SOFR +1.7705%	September 1, 2030	$	750
Interest rate swap(1)	January 2031 Notes	5.100	%	SOFR +1.7270%	January 15, 2031	$	650
Interest rate swap(1)	March 2032 Notes	5.800	%	SOFR +1.6995%	March 8, 2032	$	1,000

________________________________________

(1)In connection with the issuances of the January 2031 Notes and the March 2032 Notes, the Company entered into forward-starting interest rate swaps with effective dates of July 15, 2026 and January 8, 2026, respectively.

Schedule of Interest Rate Swap Derivative Instruments

The balance sheet impact of fair valuing the interest rate swaps as of December 31, 2025 and 2024 is presented below:


	As of December 31, 2025
Derivative Instrument	Notional Amount		Maturity Date	Gross Amount of Recognized Assets		Gross Amount of Recognized Liabilities		Balance Sheet Location of Amounts
Interest rate swap(1)	$	900	January 15, 2027	$	8	$	—	Other assets
Interest rate swap(2)	$	1,000	March 1, 2029	13		—		Other assets
Interest rate swap(3)	$	850	July 15, 2029	25		—		Other assets
Interest rate swap(4)	$	750	September 1, 2030	7		—		Other assets
Interest rate swap(5)	$	650	January 15, 2031	—		(4)		Accounts payable and other liabilities
Interest rate swap(6)	$	1,000	March 8, 2032	28		—		Other assets
Total				$	81	$	(4)

________________________________________

(1)The asset related to the fair value of the interest rate swaps was offset by a $8 increase to the carrying value of the January 2027 Notes.

(2)The asset related to the fair value of the interest rate swap was offset by a $13 increase to the carrying value of the March 2029 Notes.

(3)The asset related to the fair value of the interest rate swap was offset by a $25 increase to the carrying value of the July 2029 Notes.

(4)The asset related to the fair value of the interest rate swap was offset by a $7 increase to the carrying value of the September 2030 Notes.

(5)The liability related to the fair value of the interest rate swap was offset by a $4 decrease to the carrying value of the January 2031 Notes.

(6)The asset related to the fair value of the interest rate swap was offset by a $28 increase to the carrying value of the March 2032 Notes.


	As of December 31, 2024
Derivative Instrument	Notional Amount		Maturity Date	Gross Amount of Recognized Assets		Gross Amount of Recognized Liabilities		Balance Sheet Location of Amounts
Interest rate swap(1)	$	900	January 15, 2027	$	4	$	—	Other assets
Interest rate swap(2)	$	1,000	March 1, 2029	—		(9)		Accounts payable and other liabilities
Interest rate swap(3)	$	850	July 15, 2029	7		—		Other assets
Total				$	11	$	(9)

________________________________________

(1)The asset related to the fair value of the interest rate swaps was offset by a $4 increase to the carrying value of the January 2027 Notes.

(2)The liability related to the fair value of the interest rate swap was offset by a $9 decrease to the carrying value of the March 2029 Notes.

(3)The asset related to the fair value of the interest rate swap was offset by a $7 increase to the carrying value of the July 2029 Notes.