XML 471 R36.htm IDEA: XBRL DOCUMENT v3.24.0.1

Segment and Geographic Information (Tables)

12 Months Ended

Dec. 31, 2023

Segment Reporting [Abstract]

Schedule of segment information

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

As of and for the Year Ended December 31, 2023			Equipment Leasing						Equipment Trading						Totals
Total leasing revenues			$	1,537,351					$	6,441					$	1,543,792
Trading margin			—						7,899						7,899
Net gain on sale of leasing equipment			58,615						—						58,615
Depreciation and amortization expense			574,767						784						575,551
Interest and debt expense			239,844						994						240,838
Segment income (loss) before income taxes(1)			515,975						12,563						528,538
Equipment held for sale			165,184						20,318						185,502
Goodwill			220,864						15,801						236,665
Total assets			11,164,052						68,816						11,232,868
Purchases of leasing equipment and investments in finance leases(2)			$	208,242					$	—					$	208,242

As of and for the Year Ended December 31, 2022			Equipment Leasing						Equipment Trading						Totals
Total leasing revenues			$	1,665,880					$	13,806					$	1,679,686
Trading margin			—						16,004						16,004
Net gain on sale of leasing equipment			115,665						—						115,665
Depreciation and amortization expense			634,090						747						634,837
Interest and debt expense			224,470						1,621						226,091
Segment income (loss) before income taxes(1)			794,280						25,039						819,319
Equipment held for sale			97,463						41,043						138,506
Goodwill			220,864						15,801						236,665
Total assets			12,010,654						98,604						12,109,258
Purchases of leasing equipment and investments in finance leases(2)			$	943,062					$	—					$	943,062

As of and for the Year Ended December 31, 2021			Equipment Leasing						Equipment Trading						Totals
Total leasing revenues			$	1,519,434					$	14,446					$	1,533,880
Trading margin			—						34,099						34,099
Net gain on sale of leasing equipment			107,060						—						107,060
Depreciation and amortization expense			625,519						721						626,240
Interest and debt expense			220,292						1,732						222,024
Segment income (loss) before income taxes(1)			673,477						40,973						714,450
Equipment held for sale			16,936						31,810						48,746
Goodwill			220,864						15,801						236,665
Total assets			12,543,270						100,568						12,643,838
Purchases of leasing equipment and investments in finance leases(2)			$	3,434,394					$	—					$	3,434,394

(1)     Segment income before income taxes excludes unrealized gains or losses on derivative instruments and debt termination expense. The Company recorded debt termination expense of nil, $1.9 million, and $133.9 million for the years ended December 31, 2023, 2022, and 2021, respectively and an immaterial amount of unrealized gain, an unrealized gain of $0.3 million, and nil for the years ended December 31, 2023, 2022, and 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.

Geographic allocation of revenues for the periods indicated based on the customers primary domicile and allocates equipment trading revenue based on the location of sale

The following table summarizes the geographic allocation of total leasing revenues for the years ended December 31, 2023, 2022, and 2021 based on customers' primary domicile (in thousands):

			Year Ended December 31,
			2023						2022						2021
Total leasing revenues:
Asia			$	529,150					$	602,985					$	556,837
Europe			822,902						876,691						807,735
Americas			132,930						142,822						118,430
Bermuda			4,203						3,135						2,424
Other International			54,607						54,053						48,454
Total			$	1,543,792					$	1,679,686					$	1,533,880

The following table summarizes the geographic allocation of equipment trading revenues for the years ended December 31, 2023, 2022 and 2021 based on the location of the sale (in thousands):

			Year Ended December 31,
			2023						2022						2021
Total equipment trading revenues:
Asia			$	32,673					$	71,739					$	64,588
Europe			19,978						27,620						22,167
Americas			23,897						43,120						47,644
Bermuda			—						—						—
Other International			19,450						5,395						8,570
Total			$	95,998					$	147,874					$	142,969

X

- Definition

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.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 41
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-41

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03.1)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483621/220-10-S99-2

+ Details

Name:	us-gaap_ScheduleOfRevenuesFromExternalCustomersAndLongLivedAssetsByGeographicalAreasTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

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.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 25
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-25

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-22

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-30

+ Details

Name:	us-gaap_ScheduleOfSegmentReportingInformationBySegmentTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- References

No definition available.

+ Details

Name:	us-gaap_SegmentReportingAbstract
Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration