Quarterly report pursuant to Section 13 or 15(d)

Fair Value Measurement (Tables)

v3.22.2
Fair Value Measurement (Tables)
6 Months Ended
Jun. 30, 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):
June 30, 2022 December 31, 2021
Carrying Value Fair Value Carrying Value Fair Value
Recourse debt $ 942,706  $ 833,518  $ 601,684  $ 518,168 
Senior debt 2,253,544  2,174,389  2,269,623  2,261,071 
Subordinated debt 1,480,326  1,409,990  1,160,115  1,160,432 
Securitization debt 2,926,368  2,679,510  2,471,468  2,494,070 
Total $ 7,602,944  $ 7,097,407  $ 6,502,890  $ 6,433,741 
Schedule of Fair Value, Financial Instruments Measured on Recurring Basis
At June 30, 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):
June 30, 2022
Level 1 Level 2 Level 3 Total
Derivative assets:
Interest rate swaps $ —  $ 122,447  $ —  $ 122,447 
Total $ —  $ 122,447  $ —  $ 122,447 
Derivative liabilities:
Interest rate swaps $ —  $ 4,393  $ —  $ 4,393 
Total $ —  $ 4,393  $ —  $ 4,393 
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