Quarterly report pursuant to Section 13 or 15(d)

Fair Value Measurement (Tables)

v3.22.1
Fair Value Measurement (Tables)
3 Months Ended
Mar. 31, 2022
Fair Value Disclosures [Abstract]  
Schedule of Carrying Values and Fair Values of Debt Instruments The carrying values and fair values of debt instruments are as follows (in thousands):
March 31, 2022 December 31, 2021
Carrying Value Fair Value Carrying Value Fair Value
Recourse debt $ 861,175  $ 782,175  $ 601,684  $ 518,168 
Senior debt 2,539,232  2,494,413  2,269,623  2,261,071 
Subordinated debt 1,296,885  1,252,911  1,160,115  1,160,432 
Securitization debt 2,441,868  2,328,837  2,471,468  2,494,070 
Total $ 7,139,160  $ 6,858,336  $ 6,502,890  $ 6,433,741 
Schedule of Fair Value, Financial Instruments Measured on Recurring Basis
At March 31, 2022 and December 31, 2021, financial instruments measured at fair value on a recurring basis, based upon the fair value hierarchy, are as follows (in thousands):
March 31, 2022
Level 1 Level 2 Level 3 Total
Derivative assets:
Interest rate swaps $ —  $ 110,534  $ —  $ 110,534 
Total $ —  $ 110,534  $ —  $ 110,534 
Derivative liabilities:
Interest rate swaps $ —  $ 29,788  $ —  $ 29,788 
Total $ —  $ 29,788  $ —  $ 29,788 
December 31, 2021
Level 1 Level 2 Level 3 Total
Derivative assets:
Interest rate swaps $ —  $ 26,673  $ —  $ 26,673 
Total $ —  $ 26,673  $ —  $ 26,673 
Derivative liabilities:
Interest rate swaps $ —  $ 83,873  $ —  $ 83,873 
Total $ —  $ 83,873  $ —  $ 83,873