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Schedule I Condensed Statement of Cash Flows (Notes) | 12 Months Ended
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Dec. 31, 2019
Condensed Financial Information Disclosure [Abstract] |
Condensed financial information of registrant | TRITON INTERNATIONAL LIMITED Parent Company Condensed Balance Sheets (In thousands, except share data)
| December 31, 2019 |  | December 31, 2018
ASSETS: |  |  |
Cash and cash equivalents | $ | 1 |  |  | $ | 2 |
Investment in subsidiaries | 2,535,211 |  |  | 2,250,159 |
Other assets | 49 |  |  | 10 |
Total assets | $ | 2,535,261 |  |  | $ | 2,250,171 |
LIABILITIES AND SHAREHOLDERS' EQUITY: |  |  |
Accounts payable and other accrued expenses | $ | 2,381 |  |  | $ | 5,988 |
Intercompany payable | 643 |  |  | 487 |
Intercompany loan | — |  |  | 40,000 |
Total liabilities | 3,024 |  |  | 46,475 |
Shareholders' equity |  |  |
Preferred shares, $0.01 par value, at liquidation preference | 405,000 |  |  | — |
Common shares, $0.01 par value, 270,000,000 shares authorized, 80,979,833 and 80,843,472 shares issued, respectively | 810 |  |  | 809 |
Undesignated shares, $0.01 par value, 13,800,000 and 30,000,000 shares authorized, respectively, no shares issued and outstanding | — |  |  | — |
Treasury shares, at cost, 8,771,345 and 1,853,148 shares, respectively | (278,510 | ) |  | (58,114 | )
Additional paid-in capital | 902,725 |  |  | 896,811 |
Accumulated earnings | 1,533,845 |  |  | 1,349,627 |
Accumulated other comprehensive income | (31,633 | ) |  | 14,563 |
Total shareholders' equity | 2,532,237 |  |  | 2,203,696 |
Total liabilities and shareholders' equity | $ | 2,535,261 |  |  | $ | 2,250,171 |
TRITON INTERNATIONAL LIMITED Parent Company Condensed Statements of Cash Flows (In thousands)
| Year Ended December 31,
| 2019 |  | 2018 |  | 2017
Cash flows from operating activities: |  |  |  |  |
Net income (loss) | $ | 352,687 |  |  | $ | 349,555 |  |  | $ | 344,598 |
Adjustments to reconcile net income (loss) to net cash provided by operating activities: |  |  |  |  |
Net (income) loss from subsidiaries | (359,508 | ) |  | (354,955 | ) |  | (348,609 | )
Dividends received from subsidiaries | 338,569 |  |  | 220,304 |  |  | 197,171 |
Share-based compensation expense | 1,403 |  |  | 1,252 |  |  | 1,084 |
Changes in operating assets and liabilities: |  |  |  |  |
Other | (3,696 | ) |  | 409 |  |  | 2,622 |
Net cash provided by (used in) operating activities | 329,455 |  |  | 216,565 |  |  | 196,866 |
Cash flows from investing activities: |  |  |  |  |
Investment in subsidiary | (291,997 | ) |  | (40,000 | ) |  | (254,240 | )
Net cash provided by (used in) investing activities | (291,997 | ) |  | (40,000 | ) |  | (254,240 | )
Cash flows from financing activities: |  |  |  |  |
Issuance of preferred shares, net of underwriting discount | 392,242 |  |  | — |  |  | — |
Issuance of common shares, net of underwriting discount | — |  |  | — |  |  | 192,931 |
Purchases of treasury shares | (222,236 | ) |  | (56,274 | ) |  | — |
Intercompany loan | (40,000 | ) |  | 40,000 |  |  | — |
Dividends paid on preferred shares | (12,323 | ) |  | — |  |  | — |
Dividends paid on common shares | (153,861 | ) |  | (160,289 | ) |  | (135,557 | )
Other | (1,281 | ) |  | — |  |  | — |
Net cash provided by (used in) financing activities | (37,459 | ) |  | (176,563 | ) |  | 57,374 |
Net increase (decrease) in cash and cash equivalents | $ | (1 | ) |  | $ | 2 |  |  | $ | — |
Cash, cash equivalents and restricted cash, beginning of period | 2 |  |  | — |  |  | — |
Cash, cash equivalents and restricted cash, end of period | $ | 1 |  |  | $ | 2 |  |  | $ | — |
TRITON INTERNATIONAL LIMITED Parent Company Condensed Statements of Operations (In thousands)
| Year Ended December 31,
| 2019 |  | 2018 |  | 2017
Revenues: |  |  |  |  |
Revenues | $ | — |  |  | $ | — |  |  | $ | — |
Total revenues | — |  |  | — |  |  | — |
Operating expenses: |  |  |  |  |
Administrative expenses | 5,865 |  |  | 5,343 |  |  | 4,011 |
Operating income (loss) | (5,865 | ) |  | (5,343 | ) |  | (4,011 | )
Other income (expenses): |  |  |  |  |
Interest and debt expense | (956 | ) |  | (57 | ) |  | — |
Net income from subsidiaries | 359,508 |  |  | 354,955 |  |  | 348,609 |
Total other income (expenses) | 358,552 |  |  | 354,898 |  |  | 348,609 |
Income (loss) before income taxes | 352,687 |  |  | 349,555 |  |  | 344,598 |
Income tax expense (benefit) | — |  |  | — |  |  | — |
Net income (loss) | $ | 352,687 |  |  | $ | 349,555 |  |  | $ | 344,598 |

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- Definition The entire disclosure for condensed financial information, including the financial position, cash flows, and the results of operations of the registrant (parent company) as of the same dates or for the same periods for which audited consolidated financial statements are being presented. Alternatively, the details of this disclosure can be reported by the specific parent company taxonomy elements, indicating the appropriate date and period contexts in an instance document. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 3 -Subparagraph (SX 210.12-04) -URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e24072-122690 Reference 2: http://www.xbrl.org/2003/role/recommendedDisclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 810 -SubTopic 10 -Section 45 -Paragraph 11 -URI http://asc.fasb.org/extlink&oid=108774443&loc=d3e5283-111683 + Details
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