Annual report pursuant to Section 13 and 15(d)

Fair Value Measurement (Tables)

v3.22.4
Fair Value Measurement (Tables)
 12 Months Ended
Dec. 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):
December 31, 2022 December 31, 2021
Carrying Value
Fair Value
Carrying Value
Fair Value
Recourse debt $ 898,040  $ 787,340  $ 601,684  $ 518,168 
Senior debt 3,238,633  3,176,774  2,269,623  2,261,071 
Subordinated debt 1,743,048  1,625,258  1,160,115  1,160,432 
Securitization debt 2,519,428  2,169,247  2,471,468  2,494,070 
Total
 $ 8,399,149  $ 7,758,619  $ 6,502,890  $ 6,433,741 
Schedule of Financial Instruments Measured at Fair Value on a Recurring Basis
At December 31, 2022 and 2021, financial instruments measured at fair value on a recurring basis, based upon the fair value hierarchy are as follows (in thousands):
December 31, 2022
Level 1
Level 2
Level 3
Total
Derivative assets:
Interest rate swaps
 $ —  $ 177,827  $ —  $ 177,827 
Total
 $ —  $ 177,827  $ —  $ 177,827 
Derivative liabilities:
Interest rate swaps $ —  $ 8,247  $ —  $ 8,247 
Total
 $ —  $ 8,247  $ —  $ 8,247 
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