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Other Equity Matters (Tables) | 12 Months Ended
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Dec. 31, 2019
Equity [Abstract] |
Preferred Stock [Text Block] | Preferred Shares The following table summarizes the Company's preferred share issuances (the "Series") during 2019:
Preferred Share Offerings | Issuance | Liquidation Preference | # of Shares(1)
Series A 8.50% Cumulative Redeemable Perpetual Preference Shares ("Series A") | March 2019 | $ | 86,250 |  | 3,450,000 |
Series B 8.00% Cumulative Redeemable Perpetual Preference Shares ("Series B") | June 2019 | 143,750 |  | 5,750,000 |
Series C 7.375% Cumulative Redeemable Perpetual Preference Shares ("Series C") | November 2019 | 175,000 |  | 7,000,000 |
|  | $ | 405,000 |  | 16,200,000 |
(1) | Represents number of shares authorized, issued, and outstanding.
As a result of these offerings, the Company received $392.2 million in aggregate net proceeds after deducting underwriting discounts of $2.7 million, $4.6 million, and $5.5 million for Series A, Series B, and Series C, respectively. The net proceeds were used for general corporate purposes, including the purchase of containers, the repurchase of outstanding common shares, the payment of dividends, and the repayment or repurchase of outstanding indebtedness.
Quarterly Financial Information [Table Text Block] | Dividends Dividends on shares of each Series are cumulative from the date of original issue and will be payable quarterly in arrears on the 15th day of March, June, September and December of each year, when, as and if declared by the Company's Board of Directors. Dividends will be payable equal to the stated rate per annum of the $25.00 liquidation preference per share. The Series rank senior to the Company's common shares with respect to dividend rights and rights upon the Company's liquidation, dissolution or winding up, whether voluntary or involuntary. The Company paid the following quarterly dividends during the year ended December 31, 2019 on its issued and outstanding Series:
|  |  | Series A |  | Series B |  | Series C
Record Date | Payment Date |  | Aggregate Payment |  | Per Share Payment |  | Aggregate Payment |  | Per Share Payment |  | Aggregate Payment |  | Per Share Payment
December 9, 2019 | December 16, 2019 |  | $1.8 million |  | $0.53125 |  | $2.9 million |  | $0.50000 |  | $1.4 million |  | $0.19462
September 9, 2019 | September 16, 2019 |  | $1.8 million |  | $0.53125 |  | $2.6 million |  | $0.45000 |  | n/a |  | n/a
June 10, 2019 | June 17, 2019 |  | $1.8 million |  | $0.53125 |  | n/a |  | n/a |  | n/a |  | n/a
As of December 31, 2019, the Company had cumulative unpaid preferred dividends of $1.3 million. The following table sets forth certain key interim financial information for the years ended December 31, 2019 and 2018:
(In thousands, except per share amounts)
| First Quarter |  | Second Quarter |  | Third Quarter |  | Fourth Quarter
2019 |  |  |  |  |  |  |
Total leasing revenues | $ | 340,859 |  |  | $ | 338,566 |  |  | $ | 336,668 |  |  | $ | 331,176 |
Trading margin | $ | 3,587 |  |  | $ | 4,496 |  |  | $ | 4,150 |  |  | $ | 2,275 |
Net gain on sale of leasing equipment | $ | 8,469 |  |  | $ | 7,519 |  |  | $ | 6,196 |  |  | $ | 4,857 |
Net income attributable to shareholders | $ | 91,914 |  |  | $ | 84,071 |  |  | $ | 85,895 |  |  | $ | 77,161 |
Net income per basic common share | $ | 1.18 |  |  | $ | 1.13 |  |  | $ | 1.18 |  |  | $ | 1.07 |
Net income per diluted common share | $ | 1.17 |  |  | $ | 1.12 |  |  | $ | 1.17 |  |  | $ | 1.07 |
2018 |  |  |  |  |  |  |
Total leasing revenues | $ | 315,097 |  |  | $ | 329,771 |  |  | $ | 350,078 |  |  | $ | 355,357 |
Trading margin | $ | 2,991 |  |  | $ | 3,994 |  |  | $ | 5,810 |  |  | $ | 6,126 |
Net gain on sale of leasing equipment | $ | 9,218 |  |  | $ | 11,105 |  |  | $ | 7,055 |  |  | $ | 7,999 |
Net income attributable to shareholders | $ | 80,892 |  |  | $ | 104,870 |  |  | $ | 94,236 |  |  | $ | 69,557 |
Net income per basic common share | $ | 1.01 |  |  | $ | 1.31 |  |  | $ | 1.18 |  |  | $ | 0.88 |
Net income per diluted common share | $ | 1.00 |  |  | $ | 1.30 |  |  | $ | 1.17 |  |  | $ | 0.87 |
Dividends Declared | The Company paid the following quarterly dividends during the years ended December 31, 2019, 2018, and 2017 on its issued and outstanding common shares:
Record Date | Payment Date |  | Aggregate Payment |  | Per Share Payment
December 3, 2019 | December 20, 2019 |  | $37.3 Million |  | $0.52
September 5, 2019 | September 26, 2019 |  | $37.6 Million |  | $0.52
June 6, 2019 | June 27, 2019 |  | $38.6 Million |  | $0.52
March 12, 2019 | March 28, 2019 |  | $40.4 Million |  | $0.52
December 3, 2018 | December 20, 2018 |  | $41.0 Million |  | $0.52
September 4, 2018 | September 25, 2018 |  | $41.6 Million |  | $0.52
June 1, 2018 | June 22, 2018 |  | $41.6 Million |  | $0.52
March 12, 2018 | March 28, 2018 |  | $36.1 Million |  | $0.45
December 1, 2017 | December 22, 2017 |  | $36.0 Million |  | $0.45
September 1, 2017 | September 22, 2017 |  | $33.2 Million |  | $0.45
June 1, 2017 | June 22, 2017 |  | $33.2 Million |  | $0.45
March 20, 2017 | March 30, 2017 |  | $33.2 Million |  | $0.45
Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block] | The following table summarizes the components of accumulated other comprehensive income (loss), net of tax, for the years ended December 31, 2019, 2018, and 2017 (in thousands):
| Cash Flow Hedges |  | Foreign Currency Translation |  | Accumulated Other Comprehensive (Loss) Income
Balance at January 1, 2017 | $ | 31,182 |  |  | $ | (4,424 | ) |  | $ | 26,758 |
Change in derivative instruments designated as cash flow hedges(1) | (407 | ) |  | — |  |  | (407 | )
Reclassification of (gain) loss on derivative instruments designated as cash flow hedges(1) | 440 |  |  | — |  |  | 440 |
Foreign currency translation adjustment | — |  |  | 151 |  |  | 151 |
Balance at December 31, 2017 | $ | 31,215 |  |  | $ | (4,273 | ) |  | $ | 26,942 |
Change in derivative instruments designated as cash flow hedges(1) | (3,933 | ) |  | — |  |  | (3,933 | )
Reclassification of (gain) loss on derivative instruments designated as cash flow hedges(1) | (5,210 | ) |  | — |  |  | (5,210 | )
Tax reclassification to accumulated earnings for the adoption of ASU 2018-02 | (3,029 | ) |  | $ | — |  |  | (3,029 | )
Foreign currency translation adjustment | — |  |  | (207 | ) |  | (207 | )
Balance at December 31, 2018 | $ | 19,043 |  |  | $ | (4,480 | ) |  | $ | 14,563 |
Change in derivative instruments designated as cash flow hedges(1) | (42,532 | ) |  | — |  |  | (42,532 | )
Reclassification of (gain) loss on derivative instruments designated as cash flow hedges(1) | (4,039 | ) |  | — |  |  | (4,039 | )
Cumulative effect for the adoption of ASU 2017-12, net of income tax effect | 432 |  |  | — |  |  | 432 |
Foreign currency translation adjustment | — |  |  | (57 | ) |  | (57 | )
Balance at December 31, 2019 | $ | (27,096 | ) |  | $ | (4,537 | ) |  | $ | (31,633 | )
(1) Refer to Note 7 - "Derivative Instruments" for reclassification impact on the Consolidated Statements of Operations.

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