Derivative Instruments (Tables)

3 Months Ended

Mar. 31, 2022

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): 

	March 31, 2022		December 31, 2021
Derivatives designated as net investment hedges:
Denominated in Canadian Dollars	$	1,075,000	$	675,000
Denominated in Pound Sterling	£	1,890,708	£	1,904,708
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	$	25,000
Interest rate swaps designated as fair value hedges:
Denominated in U.S Dollars	$	550,000	$	—
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 March 31, 2022 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 March 31,
Description	Location	2022		2021
Gain (loss) on derivative instruments designated as hedges recognized in income	Interest expense	$	5,984	$	6,024
Gain (loss) on derivative instruments not designated as hedges recognized in income	Interest expense	$	(693)	$	(719)
Gain (loss) on equity warrants recognized in income	Gain (loss) on derivatives and financial instruments	$	(2,423)	$	—
Gain (loss) on derivative and financial instruments designated as hedges recognized in OCI	OCI	$	51,940	$	(20,037)