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Segment and Geographic Information (Tables) | 3 Months Ended
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Mar. 31, 2019
Segment Reporting [Abstract] |
Schedule of segment information | The following tables summarize segment information and the consolidated totals reported (in thousands):
| Three Months Ended March 31,
| 2019 |  | 2018
| Equipment Leasing |  | Equipment Trading |  | Totals |  | Equipment Leasing |  | Equipment Trading |  | Totals
Total leasing revenues | $ | 340,070 |  |  | $ | 789 |  |  | $ | 340,859 |  |  | $ | 314,429 |  |  | $ | 668 |  |  | $ | 315,097 |
Trading margin | — |  |  | 3,587 |  |  | 3,587 |  |  | — |  |  | 2,991 |  |  | 2,991 |
Net gain on sale of leasing equipment | 8,469 |  |  | — |  |  | 8,469 |  |  | 9,218 |  |  | — |  |  | 9,218 |
Depreciation and amortization expense | 134,422 |  |  | 187 |  |  | 134,609 |  |  | 129,854 |  |  | 579 |  |  | 130,433 |
Interest and debt expense | 83,174 |  |  | 346 |  |  | 83,520 |  |  | 74,774 |  |  | 324 |  |  | 75,098 |
Realized (gain) loss on derivative instruments, net | (702 | ) |  | (2 | ) |  | (704 | ) |  | (248 | ) |  | — |  |  | (248 | )
Income before income taxes(1) | 98,466 |  |  | 3,181 |  |  | 101,647 |  |  | 89,966 |  |  | 2,216 |  |  | 92,182 |
Purchases of leasing equipment and investments in finance leases(2) | $ | 43,981 |  |  | $ | — |  |  | $ | 43,981 |  |  | $ | 258,668 |  |  | $ | — |  |  | $ | 258,668 |
(1) | Segment income before income taxes excludes unrealized gains or losses on derivative instruments and debt termination expense. The Company recorded unrealized losses on derivative instruments of $1.0 million for the three months ended March 31, 2019 and unrealized gains on derivative instruments of $1.2 million for the three months ended March 31, 2018. There was no debt termination expense for the three months ended March 31, 2019 and 2018.
(2) | Represents cash disbursements for purchases of leasing equipment and investments in finance leases as reflected in the consolidated statements of cash flows for the periods indicated, but excludes cash flows associated with the purchase of equipment held for resale.
| March 31, 2019 |  | December 31, 2018
| Equipment Leasing |  | Equipment Trading |  | Totals |  | Equipment Leasing |  | Equipment Trading |  | Totals
Equipment held for sale | $ | 58,339 |  |  | $ | 27,872 |  |  | $ | 86,211 |  |  | $ | 46,968 |  |  | $ | 19,485 |  |  | $ | 66,453 |
Goodwill | 220,864 |  |  | 15,801 |  |  | 236,665 |  |  | 220,864 |  |  | 15,801 |  |  | 236,665 |
Total assets | $ | 10,057,643 |  |  | $ | 52,479 |  |  | $ | 10,110,122 |  |  | $ | 10,224,421 |  |  | $ | 45,592 |  |  | $ | 10,270,013 |
Schedule of revenues by geographic location | The following table summarizes the geographic allocation of equipment trading revenues for the three months ended March 31, 2019 and 2018 based on the location of the sale (in thousands):
| Three Months Ended March 31,
| 2019 |  | 2018
Total equipment trading revenues: |  |  |
Asia | $ | 3,292 |  |  | $ | 2,454 |
Europe | 4,871 |  |  | 4,289 |
Americas | 6,765 |  |  | 4,984 |
Bermuda | — |  |  | — |
Other International | 2,900 |  |  | 1,648 |
Total | $ | 17,828 |  |  | $ | 13,375 |
The following table summarizes the geographic allocation of equipment leasing revenues for the three months ended March 31, 2019 and 2018 based on the Company's customers' primary domicile (in thousands):
| Three Months Ended March 31,
| 2019 |  | 2018
Total equipment leasing revenues: |  |  |
Asia | $ | 137,450 |  |  | $ | 130,190 |
Europe | 162,557 |  |  | 143,649 |
Americas | 30,782 |  |  | 31,050 |
Bermuda | 678 |  |  | 613 |
Other International | 9,392 |  |  | 9,595 |
Total | $ | 340,859 |  |  | $ | 315,097 |

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