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Schedule I Condensed Statement of Cash Flows (Notes)
 12 Months Ended
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