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Segment and Geographic Information (Tables)

3 Months Ended

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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- Definition

Tabular disclosure of information concerning material long-lived assets (excluding financial instruments, customer relationships with financial institutions, mortgage and other servicing rights, deferred policy acquisition costs, and deferred taxes assets) located in identified geographic areas and/or the amount of revenue from external customers attributed to that country from which revenue is material. An entity may also provide subtotals of geographic information about groups of countries.

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