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Segment and Geographic Information (Tables)

9 Months Ended

Sep. 30, 2022

Segment Reporting [Abstract]

Schedule of segment information

The following tables summarizes our segment information and the consolidated totals reported (in thousands):

			Three Months Ended September 30,
			2022																		2021
			Equipment Leasing						Equipment Trading						Totals						Equipment Leasing						Equipment Trading						Totals
Total leasing revenues			$	420,694					$	3,989					$	424,683					$	396,100					$	4,091					$	400,191
Trading margin			—						3,680						3,680						—						9,163						9,163
Net gain on sale of leasing equipment			26,468						—						26,468						25,606						—						25,606
Depreciation and amortization expense			158,349						189						158,538						163,308						185						163,493
Interest and debt expense			56,688						436						57,124						54,238						490						54,728
Segment income (loss) before income taxes(1)			200,062						6,602						206,664						178,660						11,544						190,204
Purchases of leasing equipment and investments in finance leases(2)			$	139,790					$	—					$	139,790					$	1,074,100					$	—					$	1,074,100
			Nine Months Ended September 30,
			2022																		2021
			Equipment Leasing						Equipment Trading						Totals						Equipment Leasing						Equipment Trading						Totals
Total leasing revenues			$	1,252,046					$	11,333					$	1,263,379					$	1,106,894					$	9,824					$	1,116,718
Trading margin			—						14,223						14,223						—						28,030						28,030
Net gain on sale of leasing equipment			90,509						—						90,509						78,964						—						78,964
Depreciation and amortization expense			479,617						559						480,176						460,326						530						460,856
Interest and debt expense			164,946						1,347						166,293						168,053						1,302						169,355
Segment income (loss) before income taxes(1)			607,751						21,978						629,729						478,173						32,418						510,591
Purchases of leasing equipment and investments in finance leases(2)			$	889,811					$	—					$	889,811					$	2,791,943					$	—					$	2,791,943

(1)    Segment income before income taxes excludes unrealized gains or losses on derivative instruments and debt termination expense. The Company recorded an unrealized gain on derivative instruments for an immaterial amount and $0.3 million for the three and nine months ended September 30, 2022, respectively. For the three and nine months ended September 30, 2021, the Company did not record an unrealized gain on derivative instruments. The Company recorded $0.2 million and $1.9 million of debt termination expense for the three and nine months ended September 30, 2022, respectively, and $42.7 million and $132.5 million of debt termination expense for the three and nine months ended September 30, 2021, respectively.

(2)     Represents cash disbursements for purchases of leasing equipment and investments in finance lease 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.

			September 30, 2022																		December 31, 2021
			Equipment Leasing						Equipment Trading						Totals						Equipment Leasing						Equipment Trading						Totals
Equipment held for sale			$	53,549					$	34,672					$	88,221					$	16,936					$	31,810					$	48,746
Goodwill			220,864						15,801						236,665						220,864						15,801						236,665
Total assets			$	12,289,159					$	95,184					$	12,384,343					$	12,543,270					$	100,568					$	12,643,838

Schedule of revenues by geographic location

The following table summarizes the geographic allocation of total leasing revenues for the three and nine months ended September 30, 2022 and 2021 based on customers' primary domicile (in thousands):

			Three Months Ended September 30,												Nine Months Ended September 30,
			2022						2021						2022						2021
Total leasing revenues:
Asia			$	152,012					$	146,661					$	453,892					$	406,407
Europe			220,228						208,231						660,115						588,674
Americas			36,720						32,017						107,479						84,066
Bermuda			834						625						2,164						1,798
Other International			14,889						12,657						39,729						35,773
Total			$	424,683					$	400,191					$	1,263,379					$	1,116,718

The following table summarizes the geographic allocation of equipment trading revenues for the three and nine months ended September 30, 2022 and 2021 based on the location of the sale (in thousands):

			Three Months Ended September 30,												Nine Months Ended September 30,
			2022						2021						2022						2021
Total equipment trading revenues:
Asia			$	25,659					$	22,918					$	68,937					$	44,687
Europe			6,646						6,247						22,157						18,409
Americas			10,864						13,588						31,715						32,963
Bermuda			—						—						—						—
Other International			1,617						1,665						4,205						7,487
Total			$	44,786					$	44,418					$	127,014					$	103,546

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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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Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss.

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