Derivative Instruments (Tables)

12 Months Ended

Dec. 31, 2019

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Notional Amount of Derivatives and Other Financial Instruments

The following presents the notional amount of derivatives and other financial instruments as of the dates indicated (in thousands):

	December 31, 2019			December 31, 2018
Derivatives designated as net investment hedges:
Denominated in Canadian Dollars	$	725,000		$	575,000
Denominated in Pounds Sterling	£	1,340,708		£	890,708
Financial instruments designated as net investment hedges:
Denominated in Canadian Dollars	$	250,000		$	250,000
Denominated in Pounds Sterling	£	1,050,000		£	1,050,000
Interest rate swaps designated as cash flow hedges:
Denominated in U.S. Dollars(1)	$	1,188,250		$	—
Derivative instruments not designated:
Interest rate caps denominated in U.S. Dollars	$	405,819		$	405,819
Forward purchase contracts denominated in Canadian Dollars	$	—		$	(325,000	)
Forward sales contracts denominated in Canadian Dollars	$	—		$	405,000
Forward purchase contracts denominated in Pounds Sterling	£	(125,000	)	£	(350,000	)
Forward sales contracts denominated in Pounds Sterling	£	125,000		£	350,000

⁽¹⁾ At December 31, 2019 the maximum maturity date was July 15, 2021.

Impact of Derivative Instruments on the Consolidated Statements of Comprehensive Income

The following presents the impact of derivative instruments on the Consolidated Statements of Comprehensive Income for the periods presented (in thousands):

		Year Ended
	Location	December 31, 2019			December 31, 2018		December 31, 2017
Gain (loss) on derivative instruments designated as hedges recognized in income	Interest expense	$	26,419		$	12,271	$	(2,476	)
Gain (loss) on derivative instruments not designated as hedges recognized in income	Interest expense	$	(2,310	)	$	5,233	$	(49	)
Gain (loss) on derivative and financial instruments designated as hedges recognized in OCI	OCI	$	(131,120	)	$	211,390	$	(252,168	)