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Segment and Geographic Information
 9 Months Ended
Sep. 30, 2023
Segment Reporting [Abstract]  
Segment and Geographic Information Segment and Geographic Information
Segment Information

The Company operates its business in one industry, intermodal transportation equipment, and has two operating segments which also represent its reporting segments:
•Equipment leasing - the Company owns, leases and ultimately disposes of containers and chassis from its lease fleet.
•Equipment trading - the Company purchases containers from shipping line customers, and other sellers of containers, and resells these containers to container retailers and users of containers for storage or one-way shipment. Included in the equipment trading segment revenues are leasing revenues from equipment purchased for resale that is currently on lease until the containers are dropped off.
These operating segments were determined based on the chief operating decision maker's review and resource allocation of the products and services offered.

The following tables summarizes the Company's segment information and the consolidated totals reported (in thousands):
 Three Months Ended September 30,
 20232022
 Equipment
Leasing		Equipment
Trading		TotalsEquipment
Leasing		Equipment
Trading		Totals
Total leasing revenues$383,342 $1,559 $384,901 $420,694 $3,989 $424,683 
Trading margin— 4,508 4,508 — 3,680 3,680 
Net gain on sale of leasing equipment12,318 — 12,318 26,468 — 26,468 
Depreciation and amortization expense141,237 201 141,438 158,349 189 158,538 
Interest and debt expense59,823 250 60,073 56,688 436 57,124 
Segment income (loss) before income taxes(1)
75,446 5,643 81,089 200,062 6,602 206,664 
Purchases of leasing equipment and investments in finance leases(2)
$31,847 $— $31,847 $139,790 $— $139,790 
Nine Months Ended September 30,
20232022
Equipment
Leasing		Equipment
Trading		TotalsEquipment
Leasing		Equipment
Trading		Totals
Total leasing revenues$1,164,019 $5,144 $1,169,163 $1,252,046 $11,333 $1,263,379 
Trading margin— 7,491 7,491 — 14,223 14,223 
Net gain on sale of leasing equipment49,401 — 49,401 90,509 — 90,509 
Depreciation and amortization expense436,174 579 436,753 479,617 559 480,176 
Interest and debt expense175,391 820 176,211 164,946 1,347 166,293 
Segment income (loss) before income taxes(1)
388,653 11,263 399,916 607,751 21,978 629,729 
Purchases of leasing equipment and investments in finance leases(2)
$151,361 $— $151,361 $889,811 $— $889,811 

(1)     Segment income before income taxes excludes unrealized gains or losses on derivative instruments and debt termination expense. For the three and nine months ended September 30, 2023, the Company recorded an immaterial amount of unrealized gains on derivative instruments. For the three and nine months ended September 30, 2023 the Company did not record any debt termination expenses. For the three and nine months ended September 30, 2022, the Company recorded an unrealized gain on derivative instruments for an immaterial amount and $0.3 million, respectively. For the three and nine months ended September 30, 2022, the Company recorded $0.2 million and $1.9 million of debt termination expense, 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, 2023December 31, 2022
Equipment LeasingEquipment TradingTotalsEquipment LeasingEquipment TradingTotals
Equipment held for sale$160,832 $28,782 $189,614 $97,463 $41,043 $138,506 
Goodwill220,864 15,801 236,665 220,864 15,801 236,665 
Total assets$11,391,585 $78,613 $11,470,198 $12,010,654 $98,604 $12,109,258 

There are no intercompany revenues or expenses between segments. Certain administrative expenses have been allocated between segments based on an estimate of services provided to each segment. A portion of the Company's equipment purchased for resale in the equipment trading segment may be leased for a period of time and is reflected as leasing equipment as opposed to equipment held for sale and the cash flows associated with these transactions are reflected as purchases of leasing equipment and proceeds from the sale of equipment in investing activities in the Company's Consolidated Statements of Cash Flows.

Geographic Segment Information

The Company generates the majority of its leasing revenues from international containers which are deployed by its customers in a wide variety of global trade routes. The majority of the Company's leasing related revenue is denominated in U.S. dollars.
The following table summarizes the geographic allocation of total leasing revenues based on customers' primary domicile (in thousands):
 Three Months Ended September 30,Nine Months Ended September 30,
 2023202220232022
Total leasing revenues:  
Asia$129,863 $152,012 $402,300 $453,892 
Europe207,541 220,228 621,751 660,115 
Americas32,769 36,720 100,723 107,479 
Bermuda1,058 834 3,143 2,164 
Other International13,670 14,889 41,246 39,729 
Total$384,901 $424,683 $1,169,163 $1,263,379 

Since the majority of the Company's containers are used internationally, where no one container is domiciled in one particular place for a prolonged period of time, all of the Company's long-lived assets are considered to be international.

The following table summarizes the geographic allocation of equipment trading revenues based on the location of the sale (in thousands):
 Three Months Ended September 30,Nine Months Ended September 30,
 2023202220232022
Total equipment trading revenues:  
Asia$13,870 $25,659 $30,805 $68,937 
Europe6,135 6,646 14,841 22,157 
Americas5,109 10,864 19,384 31,715 
Bermuda— — — — 
Other International9,882 1,617 15,494 4,205 
Total$34,996 $44,786 $80,524 $127,014