Derivative Instruments (Tables)

6 Months Ended

Jun. 30, 2021

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): 

	June 30, 2021		December 31, 2020
Derivatives designated as net investment hedges:
Denominated in Canadian Dollars	$	625,000	$	625,000
Denominated in Pound Sterling	£	1,880,708	£	1,340,708
Financial instruments designated as net investment hedges:
Denominated in Canadian Dollars	$	250,000	$	250,000
Denominated in Pound Sterling	£	1,050,000	£	1,050,000
Interest rate swaps designated as cash flow hedges:
Denominated in U.S Dollars (1)	$	25,000	$	450,000
Derivative instruments not designated:
Interest rate caps denominated in U.S. Dollars	$	26,137	$	26,137
Forward sales contracts denominated in Canadian Dollars	$	80,000	$	80,000

(1) At June 30, 2021 the maximum maturity date was November 1, 2023.

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):

		Three Months Ended June 30,				Six Months Ended June 30,
Description	Location	2021		2020		2021		2020
Gain (loss) on derivative instruments designated as hedges recognized in income	Interest expense	$	5,544	$	4,106	$	11,567	$	10,751
Gain (loss) on derivative instruments not designated as hedges recognized in income	Interest expense	$	(936)	$	(1,953)	$	(1,656)	$	(2,048)
Gain (loss) on derivative and financial instruments designated as hedges recognized in OCI	OCI	$	(9,808)	$	(27,171)	$	(29,845)	$	231,941