TAL International 10-Q 29 Oct 13 2013 Q3 Quarterly report Financial data

Document_and_Entity_Informatio

Document and Entity Information	9 Months Ended
	Sep. 30, 2013	Oct. 18, 2013
Document and Entity Information
Entity Registrant Name	TAL International Group, Inc.
Entity Central Index Key	1331745
Document Type	10-Q
Document Period End Date	30-Sep-13
Amendment Flag	FALSE
Current Fiscal Year End Date	-19
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding		33,848,464
Document Fiscal Year Focus	2013
Document Fiscal Period Focus	Q3

Consolidated_Balance_Sheets

Consolidated Balance Sheets (USD $)	Sep. 30, 2013	Dec. 31, 2012
In Thousands, unless otherwise specified
ASSETS:
Leasing equipment, net of accumulated depreciation and allowances of $872,180 and $766,898	$3,368,817	$3,249,374
Net investment in finance leases, net of allowances of $1,056 and $897	205,911	121,933
Equipment held for sale	44,523	47,139
Revenue earning assets	3,619,251	3,418,446
Unrestricted cash and cash equivalents	53,036	65,843
Restricted cash	28,476	35,837
Accounts receivable, net of allowances of $950 and $692	77,122	71,363
Goodwill	74,523	71,898
Deferred financing costs	28,534	26,450
Other assets	11,161	9,453
Fair value of derivative instruments	17,948	1,904
Total assets	3,910,051	3,701,194
LIABILITIES AND STOCKHOLDERS' EQUITY:
Equipment purchases payable	38,797	111,176
Fair value of derivative instruments	3,498	34,633
Accounts payable and other accrued expenses	55,623	64,936
Net deferred income tax liability	336,282	270,459
Debt	2,801,749	2,604,015
Total liabilities	3,235,949	3,085,219
Stockholders' equity:
Preferred stock, $0.001 par value, 500,000 shares authorized, none issued	0	0
Common stock, $0.001 par value, 100,000,000 shares authorized, 36,860,307 and 36,697,366 shares issued respectively	37	37
Treasury stock, at cost, 3,011,843 shares	-37,535	-37,535
Additional paid-in capital	497,737	493,456
Accumulated earnings	211,086	168,447
Accumulated other comprehensive income (loss)	2,777	-8,430
Total stockholders' equity	674,102	615,975
Total liabilities and stockholders' equity	$3,910,051	$3,701,194

Consolidated_Balance_Sheets_Pa

Consolidated Balance Sheets (Parenthetical) (USD $)	Sep. 30, 2013	Dec. 31, 2012
In Thousands, except Share data, unless otherwise specified
Statement of Financial Position [Abstract]
Leasing equipment, accumulated depreciation and allowances	$872,180	$766,898
Net investment in finance leases, allowances	1,056	897
Accounts receivable, allowances	$950	$692
Preferred stock, par value (in dollars per share)	$0.00	$0.00
Preferred stock, shares authorized (in shares)	500,000	500,000
Preferred stock, shares issued (in shares)	0	0
Common stock, par value (in dollars per share)	$0.00	$0.00
Common stock, shares authorized (in shares)	100,000,000	100,000,000
Common stock, shares issued (in shares)	36,860,307	36,697,366
Treasury stock, shares (in shares)	3,011,843	3,011,843

Consolidated_Statements_of_Inc

Consolidated Statements of Income (USD $)	3 Months Ended		9 Months Ended
In Thousands, except Per Share data, unless otherwise specified	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2013	Sep. 30, 2012
Leasing revenues:
Operating leases	$139,994	$131,839	$410,352	$375,623
Finance leases	3,868	3,339	10,118	10,589
Total leasing revenues	143,862	135,178	420,470	386,212
Equipment trading revenues	13,984	12,981	64,051	48,750
Management fee income	549	823	1,769	2,303
Other revenues	33	39	175	111
Total revenues	158,428	149,021	486,465	437,376
Operating expenses (income):
Equipment trading expenses	11,977	11,273	55,082	42,867
Direct operating expenses	6,854	6,195	19,034	17,802
Administrative expenses	10,432	10,674	32,950	32,908
Depreciation and amortization	52,321	52,155	151,470	144,529
Provision (reversal) for doubtful accounts	256	-8	1,759	-177
Net (gain) on sale of leasing equipment	-4,293	-11,317	-22,580	-35,229
Total operating expenses	77,547	68,972	237,715	202,700
Operating income	80,881	80,049	248,750	234,676
Other expenses:
Interest and debt expense	27,105	30,390	84,291	85,088
Write-off of deferred financing costs	0	0	2,578	0
Net loss (gain) on interest rate swaps	295	1,286	-8,125	5,042
Total other expenses	27,400	31,676	78,744	90,130
Income before income taxes	53,481	48,373	170,006	144,546
Income tax expense	18,820	17,220	59,949	51,169
Net income	$34,661	$31,153	$110,057	$93,377
Net income per common sharebBasic (in dollars per share)	$1.04	$0.94	$3.29	$2.81
Net income per common sharebDiluted (in dollars per share)	$1.03	$0.93	$3.27	$2.78
Cash dividends paid per common share (in dollars per share)	$0.68	$0.60	$1.98	$1.73
Weighted average number of common shares outstandingbBasic (in shares)	33,486	33,230	33,480	33,213
Dilutive stock options and restricted stock (in shares)	222	402	194	401
Weighted average number of common shares outstandingbDiluted (in shares)	33,708	33,632	33,674	33,614

Consolidated_Statements_of_Com

Consolidated Statements of Comprehensive Income (USD $)	3 Months Ended		9 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2013	Sep. 30, 2012
Statement of Comprehensive Income [Abstract]
Net income	$34,661	$31,153	$110,057	$93,377
Other comprehensive (loss) income:
Change in fair value of derivative instruments designated as cash flow hedges (net of income tax effect of $(1,734), $0, $5,342 and $(625), respectively)	-3,172	0	9,780	-1,145
Amortization of loss on terminated derivative instruments designated as cash flow hedges (net of income tax effect of $266, $301, $812 and $871, respectively)	482	549	1,484	1,595
Foreign currency translation adjustment	288	118	-57	183
Other comprehensive (loss) income, net of tax	-2,402	667	11,207	633
Comprehensive income	$32,259	$31,820	$121,264	$94,010

Consolidated_Statements_of_Com1

Consolidated Statements of Comprehensive Income (Parenthetical) (USD $)	3 Months Ended		9 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2013	Sep. 30, 2012
Statement of Comprehensive Income [Abstract]
Change in fair value derivative instruments designated as cash flow hedges, income tax effect	($1,734)	$0	$5,342	($625)
Amortization of loss on terminated derivative instruments designated as cash flow hedges, income tax effect	$266	$301	$812	$871

Consolidated_Statements_of_Cas

Consolidated Statements of Cash Flows (USD $)	9 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2013		Sep. 30, 2012
Cash flows from operating activities:
Net income	$110,057		$93,377
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	151,470		144,529
Amortization of deferred financing costs	5,400		4,234
Amortization of net loss on terminated derivative instruments designated as cash flow hedges	2,296		2,466
Net (gain) on sale of leasing equipment	-22,580		-35,229
Net loss (gain) on interest rate swaps	-8,125		5,042
Write-off of deferred financing costs	2,578		0
Deferred income taxes	59,836		50,964
Stock compensation charge	4,099		2,882
Changes in operating assets and liabilities:
Net equipment purchased for resale activity	-5,214		8,295
Net realized loss on interest rate swaps terminated prior to their contractual maturities	-24,235		-19,444
Other changes in operating assets and liabilities	-17,123		-23,483
Net cash provided by operating activities	258,459		233,633
Cash flows from investing activities:
Purchases of leasing equipment and investments in finance leases	-534,884	[1]	-773,586	[1]
Proceeds from sale of equipment, net of selling costs	106,141		98,886
Cash collections on finance lease receivables, net of income earned	29,083		25,846
Other	0		116
Net cash (used in) investing activities	-399,660		-648,738
Cash flows from financing activities:
Stock options exercised and stock related activity	-222		-27
Financing fees paid under debt facilities	-10,062		-7,446
Borrowings under debt facilities	1,521,207		1,165,404
Payments under debt facilities and capital lease obligations	-1,323,590		-769,127
Decrease (increase) in restricted cash	7,361		-4,249
Common stock dividends paid	-66,300		-57,479
Net cash provided by financing activities	128,394		327,076
Net (decrease) in unrestricted cash and cash equivalents	-12,807		-88,029
Unrestricted cash and cash equivalents, beginning of period	65,843		140,877
Unrestricted cash and cash equivalents, end of period	53,036		52,848
Supplemental non-cash investing activities:
Equipment purchases payable	$38,797		$29,771
[1]	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.

Description_of_the_Business_Ba

Description of the Business, Basis of Presentation and Recently Adopted Accounting Pronouncements	9 Months Ended
	Sep. 30, 2013
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Description of the Business, Basis of Presentation and Recently Adopted Accounting Pronouncements	Description of the Business, Basis of Presentation and Recently Adopted Accounting Pronouncements
	A.    Description of the Business
	TAL International Group, Inc. ("TAL" or the "Company") leases intermodal transportation equipment, primarily maritime containers, and provides maritime container management services, through a worldwide network of offices, third party depots and other facilities. The Company operates in both international and domestic markets. The majority of the Company's business is derived from leasing its containers to shipping line customers through a variety of long-term and short-term contractual lease arrangements. The Company also sells its own containers and containers purchased from third parties for resale. TAL also enters into management agreements with third party container owners under which the Company manages the leasing and selling of containers on behalf of the third party owners.
	B.    Basis of Presentation
	The preparation of financial statements in conformity with U.S. generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the reported amounts of revenues and expenses during the reporting period and disclosure of contingent assets and liabilities at the date of the financial statements. Actual results could differ from those estimates.
	The consolidated financial statements include the accounts of the Company and its subsidiaries. All intercompany transactions and balances have been eliminated in consolidation. Certain reclassifications have been made to the accompanying prior period financial statements and notes to conform to the current year's presentation.
	Effective October 1, 2012, the Company increased the residual value estimates used in its equipment depreciation policy. The increase in estimated residual values resulted in a decrease in depreciation expense of $4.7 million ($3.0 million after tax or $0.09 per fully diluted share) for the three months ended September 30, 2013 and $14.6 million ($9.5 million after tax or $0.28 per fully diluted share) for the nine months ended September 30, 2013. Also effective October 1, 2012, the Company revised the estimated depreciation start date used in its leasing equipment depreciation policy. Under the Company's revised estimate, depreciation on leasing equipment begins on the date of initial on-hire.
	C.    Recently Adopted Accounting Pronouncements
	In February 2013, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update No. 2013-2 ("ASU 2013-2"), Comprehensive Income (Topic 220): Reporting of Amounts Reclassified Out of Accumulated Other Comprehensive Income. ASU 2013-2 requires the presentation, in one place, of information about reclassifications out of accumulated other comprehensive income. Additionally, ASU 2013-2 requires the presentation of reclassifications out of accumulated other comprehensive income by component for periods in which changes in accumulated other comprehensive income balances are presented. The Company has adopted ASU 2013-2 effective January 1, 2013. The Company's adoption of ASU 2013-2 had no impact on the Company's consolidated financial statements as it is disclosure-only in nature.
	D.    Business Combination
	Effective July 1, 2013, the Company acquired the assets and business of Martec Leasing for $11.9 million. Martec Leasing is a worldwide supplier of roll on roll off equipment. Of the total purchase price, the Company preliminarily allocated $8.5 million to Leasing equipment, $0.8 million to Other assets representing the acquisition date fair value of above-market leases, and $2.6 million to Goodwill, in its consolidated balance sheet. The company believes that the acquisition of Martec Leasing compliments our current leasing business by expanding our product types available for our existing customer base.

Fair_Value_of_Financial_Instru

Fair Value of Financial Instruments	9 Months Ended
	Sep. 30, 2013
Fair Value Disclosures [Abstract]
Fair Value of Financial Instruments	Fair Value of Financial Instruments
	The Company believes that the carrying amounts of its cash and cash equivalents, accounts receivable, equipment purchases payable, and accounts payable approximated their fair value as of September 30, 2013 and December 31, 2012.
	Fair value represents the price that would be received upon the sale of an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. The Company utilizes the following fair value hierarchy when selecting inputs for its valuation techniques, with the highest priority given to Level 1:
	•	Level 1—Financial assets and liabilities whose values are based on observable inputs such as quoted prices for identical instruments in active markets (unadjusted).
	Note 2—Fair Value of Financial Instruments (Continued)
	•	Level 2—Financial assets and liabilities whose values are based on observable inputs such as (i) quoted prices for similar instruments in active markets; (ii) quoted prices for identical or similar instruments in markets that are not active; or (iii) model-derived valuations in which all significant inputs are observable in active markets.
	•	Level 3—Financial assets and liabilities whose values are derived from valuation techniques based on one or more significant unobservable inputs.
	The Company does not measure debt at fair value in its consolidated balance sheets. The fair value, which was measured using Level 2 inputs, and the carrying value of the Company's debt are listed in the table below as of the dates indicated (in thousands).
		September 30,		December 31,
		2013		2012
	Liabilities
	Debt—carrying value	$	2,801,749	$	2,604,015
	Debt—estimated fair value	$	2,789,692	$	2,701,668
	The Company estimated the fair value of its debt instruments based on the net present value of its future debt payments, using a discount rate which reflects the Company's estimate of current market interest rates and spreads as of the balance sheet date.

Dividends

Dividends	9 Months Ended
	Sep. 30, 2013
Stockholders' Equity Note [Abstract]
Dividends	Dividends
	The Company paid the following quarterly dividends during the nine months ended September 30, 2013 and 2012 on its issued and outstanding common stock:
	Record Date	Payment	Aggregate	Per Share
		Date	Payment	Payment
	3-Sep-13	24-Sep-13	$22.8 Million	$0.68
	4-Jun-13	25-Jun-13	$22.1 Million	$0.66
	7-Mar-13	March 28, 2013	$21.4 Million	$0.64
	4-Sep-12	25-Sep-12	$20.0 Million	$0.60
	1-Jun-12	22-Jun-12	$19.2 Million	$0.58
	March 8, 2012	March 29, 2012	$18.3 Million	$0.55

Capital_Stock_and_Stock_Option

Capital Stock and Stock Options	9 Months Ended
	Sep. 30, 2013
Equity [Abstract]
Capital Stock and Stock Options	Capital Stock and Stock Options
	Stock Based Compensation Plans
	The Company records compensation cost relating to stock based payment transactions in accordance with ASC 718. The cost is measured at the grant date, based on the calculated fair value of the award, and is recognized as an expense over the employee's requisite service period (generally the vesting period of the equity award) on a straight-line basis.
	The Company recognized compensation costs in administrative expenses related to the vesting of restricted shares granted in 2011, 2012 and 2013 under the Company's stock based compensation plans of $1.1 million and $0.8 million during the three months ended September 30, 2013 and 2012, respectively, and $4.1 million and $2.9 million during the nine months ended September 30, 2013 and 2012, respectively.
	Total unrecognized compensation cost of approximately $6.3 million as of September 30, 2013 related to restricted shares granted during 2011, 2012 and 2013 will be recognized over the remaining weighted average vesting period of approximately 1.9 years.
	During the nine months ended September 30, 2013, plan participants exercised 34,150 options which had been granted under the 2005 Management Omnibus Incentive Plan. Plan participants tendered 16,153 shares, all of which were subsequently retired by the Company, to satisfy payment of the exercise price, and in certain instances withholding taxes related to activity under the Company's stock compensation plans.
	Note 4—Capital Stock and Stock Options (Continued)
	Accumulated Other Comprehensive Income (Loss)
	Accumulated other comprehensive income (loss) consisted of the following as of the dates indicated (in thousands and net of tax effects):
		Cash Flow			Foreign				Accumulated Other Comprehensive Income (Loss)
		Hedges			Currency
					Translation
	Balance as of December 31, 2012	$	(7,481	)	$	(949	)		$	(8,430	)
	Change in fair value of derivative instruments designated as cash flow hedges	6,847			—				6,847
	Reclassification of realized loss on interest rate swap agreements designated as cash flow hedges	2,933			—				2,933
	Amortization of net loss on derivative instruments previously designated as cash flow hedges	1,484			—				1,484
	Foreign currency translation adjustment	—			(57		)		(57		)
	Other comprehensive income (loss)	11,264			(57		)		11,207
	Balance at September 30, 2013	$	3,783		$	(1,006	)		$	2,777
	The following table presents reclassifications out of Accumulated other comprehensive income (loss) for the period indicated (in thousands):
		Amounts Reclassified From Accumulated Other Comprehensive Income (Loss)						Affected Line Item
								in the Consolidated
		Three Months Ended September 30, 2013			Nine Months Ended September 30, 2013			Statements of Income
	Realized loss on interest rate swap agreements, designated as cash flow hedges	$	2,701		$	4,533		Interest and debt expense
	Amortization of net loss on derivative instruments previously designated as cash flow hedges	748			2,296			Interest and debt expense
	Amounts reclassified from Accumulated other comprehensive income	3,449			6,829			Income before income taxes
	Income tax (benefit)	(1,219		)	(2,412		)	Income tax expense
	Amounts reclassified from Accumulated other comprehensive income (loss)	$	2,230		$	4,417		Net income

Net_Investment_in_Finance_Leas

Net Investment in Finance Leases	9 Months Ended
	Sep. 30, 2013
Leases, Capital [Abstract]
Net Investment in Finance Leases	Net Investment in Finance Leases
	The following table represents the components of the net investment in finance leases (in thousands):
		September 30,			December 31,
		2013			2012
	Gross finance lease receivables	$	255,927		$	152,321
	Allowance on gross finance lease receivables	(1,056		)	(897		)
	Gross finance lease receivables, net of allowance	254,871			151,424
	Unearned income	(48,960		)	(29,491		)
	Net investment in finance leases	$	205,911		$	121,933
	The Company evaluates potential losses in its finance lease portfolio by regularly reviewing the specific receivables in the portfolio and analyzing historical loss experience. The Company's historical loss experience on its gross finance lease receivables, after considering equipment recoveries, was less than 1%. Net investment in finance lease receivables is generally charged off after an analysis is completed which indicates that collection of the full balance is remote.
	Note 5—Net Investment in Finance Leases (Continued)
	In order to estimate its allowance for losses contained in the gross finance lease receivables, the Company categorizes the credit worthiness of the receivables in the portfolio based on internal customer credit ratings, which are reviewed and updated, as appropriate, on an ongoing basis. The internal customer credit ratings are developed based on a review of the financial performance and condition, operating environment, geographical location and trade routes of our customers.
	The categories of gross finance lease receivables based on the Company's internal customer credit ratings can be described as follows:
	Tier 1—These customers are typically large international shipping lines who have been in business for many years and have world class operating capabilities and significant financial resources. In most cases, the Company has had a long commercial relationship with these customers and currently maintains regular communication with them at several levels of management, which provides TAL with insight into the customer's current operating and financial performance. In the Company's view, these customers have the greatest ability to withstand cyclical down turns and would likely have greater access to needed capital than lower rated customers. The Company views the risk of default for Tier 1 customers to range from minimal to modest.
	Tier 2—These customers are typically either smaller shipping lines with less operating scale or shipping lines with a high degree of financial leverage, and accordingly the Company views these customers as subject to higher volatility in financial performance over the business cycle. The Company generally expects these customers to have less access to capital markets or other sources of financing during cyclical down turns. The Company views the risk of default for Tier 2 customers as moderate.
	Tier 3—Customers in this category exhibit volatility in payments on a regular basis, thus they are considered non-performing. The Company has initiated or implemented plans to recover equipment on lease to these customers and believes that default is likely, or has already occurred.
	Based on the above categories, the Company's gross finance lease receivables are as follows (in thousands):
		September 30,			December 31,
		2013			2012
	Tier 1	$	220,217		$	109,883
	Tier 2	35,710			42,438
	Tier 3	—			—
	Gross finance lease receivables	$	255,927		$	152,321
	The Company considers an account past due when a payment has not been received in accordance with the terms of the related lease agreement. As of September 30, 2013, approximately $0.4 million of the Company's Tier 1 gross finance lease receivables and $0.2 million of the Company's Tier 2 gross finance lease receivables were past due, substantially all of which were aged approximately 31 days. As of September 30, 2013, none of the Company's gross finance lease receivables were in non-accrual status. The Company categorizes customers as non-accrual based on the credit ratings described above and recognizes income on gross finance lease receivables in non-accrual status as collections are made.
	The following table represents the activity of the Company's allowance on gross finance lease receivables for the periods presented (in thousands):
		Beginning			Additions/			Ending
		Balance			(Reversals)			Balance
	Finance Lease—Allowance for doubtful accounts:
	For the nine months ended
	30-Sep-13	$	897		$	159		$	1,056
	30-Sep-12	$	1,073		$	(152	)	$	921

Debt

Debt	9 Months Ended
	Sep. 30, 2013
Debt Disclosure [Abstract]
Debt	Debt
	Debt consisted of the following (amounts in thousands):
		September 30,		December 31,
		2013		2012
	Asset backed securitization (ABS) term notes	$	1,242,212	$	1,343,826
	Term loan facilities	780,128		698,570
	Asset backed warehouse facility	210,500		355,000
	Revolving credit facilities	450,000		75,000
	Capital lease obligations	118,909		131,619
	Total Debt	$	2,801,749	$	2,604,015
	As of September 30, 2013, the Company had $1,238.4 million of debt outstanding on facilities with fixed interest rates and $1,563.3 million of debt outstanding on facilities with interest rates based on floating rate indices (primarily LIBOR). The Company economically hedges the risks associated with fluctuations in interest rates on a portion of its floating rate borrowings by entering into interest rate swap agreements that convert a portion of its floating rate debt to a fixed rate basis, thus reducing the impact of interest rate changes on future interest expense. As of September 30, 2013, the Company had interest rate swaps in place with a net notional amount of $987.5 million to fix the floating interest rates on a portion of its floating rate debt obligations.
	The Company is subject to certain financial covenants under its debt facilities, and as of September 30, 2013, was in compliance with all such covenants.
	Asset Backed Securitization Term Notes
	In July 2013, TAL Advantage I LLC, an indirect wholly owned subsidiary of the Company, entered into a Fourth Supplemental Indenture to the Amended and Restated Indenture dated April 12, 2006 to reduce the minimum Asset Base from $400 million to $50 million thereby continuing the scheduled amortization in accordance with the agreement at the contractual advance rate.
	In May 2013, the Company prepaid all of the outstanding principal balance on certain fixed rate secured notes issued under the Asset Backed Securitization ("ABS") facilities in the amount of $190.0 million. Also in May 2013, the Company entered into an amendment to revise the optional prepayment date for certain other fixed rate secured notes issued under the ABS facilities from July 2013 to July 2015, and to reduce the interest rate on the notes from 5.50% to 3.25%.
	In February 2013, the Company issued $253 million of Class A fixed rate secured notes and $18.8 million of Class B fixed rate secured notes under the ABS facilities.
	Asset Backed Warehouse Facility
	In July 2013, the Company renewed its $550 million asset backed warehouse facility. The period in which funds are available on a revolving basis has been extended to July 2, 2015, after which if the facility is not refinanced, the notes will convert to term notes with a maturity date of July 2, 2019. The term notes amortize on a level basis over the four year term period to 60% of the outstanding balance.
	The interest rate on the asset backed warehouse facility is LIBOR plus 1.95% during the two year revolving period and will increase to LIBOR plus 2.95% for the term period. The advance rate was increased to 81%. The facility contains customary affirmative and negative covenants, financial covenants, representations and warranties, and events of default, which are subject to various exceptions and qualifications. The proceeds will be used to finance the acquisition of equipment and for other general corporate purposes.
	In April 2013, the Company decreased the size of its asset backed warehouse facility from $600.0 million to $550.0 million.
	Note 6—Debt (Continued)
	Revolving Credit Facilities
	In March 2013, the Company entered into a $450 million senior secured revolving credit facility.

Derivative_Instruments

Derivative Instruments

9 Months Ended

Sep. 30, 2013

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Derivative Instruments

Derivative Instruments

Interest Rate Swaps

The Company has entered into interest rate swap agreements to manage interest rate risk exposure. The majority of interest rate swap agreements utilized by TAL effectively modify the Company's exposure to interest rate risk by converting a portion of its floating rate debt to a fixed rate basis, thus reducing the impact of interest rate changes on future interest expense. Such agreements involve the receipt of floating rate amounts in exchange for fixed rate interest payments over the lives of the agreements without an exchange of the underlying principal amounts. In limited instances, the Company has also entered into interest rate swap agreements that involve the receipt of fixed rate amounts in exchange for floating rate interest payments. The counterparties to the Company's interest rate swap agreements are highly rated financial institutions. In the unlikely event that the counterparties fail to meet the terms of the interest rate swap agreements, the Company's exposure is limited to the interest rate differential on the notional amount at each monthly settlement period over the life of the agreements. The Company does not anticipate any non-performance by the counterparties. Substantially all of the assets of certain indirect, wholly owned subsidiaries of the Company have been pledged as collateral for the underlying indebtedness and the amounts payable under the interest rate swap agreements for each of these entities. In addition, certain assets of TAL International Container Corporation, a wholly owned subsidiary of the Company, are pledged as collateral for the $450 million senior secured revolving credit facility and the amounts payable under certain interest rate swap agreements.

As of September 30, 2013, the Company had net interest rate swap agreements in place to fix the floating interest rates on a portion of the borrowings under its debt facilities as summarized below:

Net Notional

Weighted Average

Weighted Average

Amount(1)

Fixed Leg (Pay) Interest Rate(2)

Remaining Term(2)

$987.5 Million

1.47%

6.0 years

_______________________________________________________________________________

-1

As of September 30, 2013, the net notional amount outstanding on the Company's interest rate swap agreements is comprised of $1,303.1 million of pay-fixed rate/receive-floating rate agreements and $315.6 million of pay-floating rate/receive-fixed rate agreements. The Company entered into the pay-floating rate/receive-fixed rate agreements at the parent company level to offset the cash flows on certain pay-fixed rate/receive-floating rate agreements of certain wholly owned subsidiaries. The pay-floating rate/receive-fixed rate and pay-fixed rate/receive-floating rate agreements have terms that offset each other.

-2

The calculations of weighted average fixed (pay) leg interest rate and weighted average remaining term on the Company's interest rate swap agreements reflect the impact of the pay-floating rate/receive-fixed rate agreements and the pay-fixed rate/receive-floating rate agreements they offset.

During the nine months ended September 30, 2013, the Company terminated pay-fixed rate/receive-floating rate interest rate swap agreements with an aggregate notional amount of $654.3 million and entered into new pay-fixed rate/receive-floating rate agreements with lower fixed interest rates, longer maturities and an aggregate notional amount of $910.0 million. The Company designated these interest rate swap agreements as cash flow hedges at their inception. There was no material ineffectiveness associated with these cash flow hedges in the period from designation through September 30, 2013. The Company made net payments of $24.2 million to its interest rate swap counterparties related to the termination of those agreements. As the terminated interest rate swap agreements were non-designated, the entire amount has been previously recognized in the Company's statements of net income.

Note 7—Derivative Instruments (Continued)

The Company recognized amortization of accumulated other comprehensive income (loss) attributable to losses on terminated interest rate swap agreements that had been designated as cash flow hedges in interest and debt expense of $0.7 million and $0.9 million for the three months ended September 30, 2013 and 2012, respectively, and $2.3 million and $2.5 million for the nine months ended September 30, 2013 and 2012, respectively. As of September 30, 2013, the unamortized pre-tax balance in accumulated other comprehensive income (loss) attributable to designated interest rate swap agreements and losses on terminated interest rate swap agreements that had been designated as cash flow hedges was $5.9 million, of which approximately $13.7 million is expected to be amortized to interest and debt expense over the next 12 months. Amounts recorded in accumulated other comprehensive income (loss) attributable to these terminated interest rate swap agreements may be recognized in earnings immediately in conjunction with a termination of the related debt balances.

Foreign Currency Exchange Rate Swaps

In April 2008, the Company entered into foreign currency rate swap agreements to manage foreign currency rate risk exposure by exchanging Euros for U.S. dollars based on expected payments under its Euro denominated finance lease receivables. The Company will pay a total of approximately 1.2 million Euros and receive approximately $1.8 million over the remaining term of the foreign currency rate swap agreements, which expire in April 2015. The Company does not account for the foreign currency rate swap agreements as hedging instruments under ASC 815, and therefore changes in the fair value of the foreign currency rate swap agreements are reflected in the consolidated statements of income in administrative expenses.

Fair Value of Derivative Instruments

Under the criteria established by ASC 820, the Company has elected to use the income approach to value its interest rate swap and foreign currency rate swap agreements, using observable Level 2 market expectations at the measurement date and standard valuation techniques to convert future amounts to a single present amount (discounted) assuming that participants are motivated, but not compelled to transact. The Level 2 inputs for the interest rate swap and forward valuations are limited to quoted prices for similar assets or liabilities in active markets (specifically futures contracts and spot currency rates) and inputs other than quoted prices that are observable for the asset or liability (specifically forward currency points, LIBOR cash and swap rates, basis swap adjustments and credit risk at commonly quoted intervals).

Location of Derivative Instruments in Financial Statements

Fair Value of Derivative Instruments

(In Millions)

Asset Derivatives

Liability Derivatives

September 30, 2013

December 31, 2012

September 30, 2013

December 31, 2012

Derivative Instrument

Balance

Fair

Balance

Fair

Balance

Fair

Balance

Fair

Sheet

Value

Sheet

Value

Sheet

Value

Sheet

Value

Location

Location

Location

Location

Interest rate swap contracts, designated as cash flow hedges

Fair value of derivative instruments

$

17.5

Fair value of derivative instruments

$

—

Fair value of derivative instruments

$

2.4

Fair value of derivative instruments

$

—

Interest rate swap contracts, not designated

Fair value of derivative instruments

0.2

Fair value of derivative instruments

1.4

Fair value of derivative instruments

1.1

Fair value of derivative instruments

34.6

Foreign exchange contracts, not designated

Fair value of derivative instruments

0.2

Fair value of derivative instruments

0.5

Fair value of derivative instruments

—

Fair value of derivative instruments

—

Total derivatives

$

17.9

$

1.9

$

3.5

$

34.6

Note 7—Derivative Instruments (Continued)

Effect of Derivative Instruments on Consolidated Statements of Income and

Consolidated Statements of Comprehensive Income

(In Millions)

Three Months Ended September 30,

Nine Months Ended

Location of (Gain) Loss on

September 30,

Derivative Instruments

2013

2012

2013

2012

Realized loss on interest rate swap agreements

Interest expense

$

3

$

5.4

$

9

$

18.2

Unrealized loss (gain) on interest rate swap agreements, designated as cash flow hedges

Other comprehensive income

4.9

—

(15.1

)

1.8

Net (gain) loss on interest rate swaps, not designated

Net loss (gain) on interest rate swaps

0.3

1.3

(8.1

)

5

Foreign exchange agreements, not designated

Administrative expenses

0.1

0.1

0.3

0.1

Segment_and_Geographic_Informa

Segment and Geographic Information	9 Months Ended
	Sep. 30, 2013
Segment Reporting [Abstract]
Segment and Geographic Information	Segment and Geographic Information
	Industry Segment Information
	The Company conducts its business activities in one industry, intermodal transportation equipment, and has two reporting segments:
	•	Equipment leasing—the Company owns, leases and ultimately disposes of containers and chassis from its lease fleet, as well as manages leasing activities for containers owned by third parties.
	•	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.
	The following tables show segment information for the periods indicated and the consolidated totals reported (dollars in thousands):
		Three Months Ended September 30,
		2013								2012
		Equipment			Equipment		Totals			Equipment			Equipment		Totals
		Leasing			Trading					Leasing			Trading
	Total revenues	$	140,735		$	17,693	$	158,428		$	134,038		$	14,983	$	149,021
	Equipment trading expenses	—			11,977		11,977			—			11,273		11,273
	Depreciation and amortization expense	51,958			363		52,321			51,222			933		52,155
	Net (gain) on sale of leasing equipment	(4,293		)	—		(4,293		)	(11,317		)	—		(11,317		)
	Interest and debt expense	26,510			595		27,105			29,655			735		30,390
	Income before income taxes(1)	49,320			4,456		53,776			47,801			1,858		49,659
	_______________________________________________________________________________
	-1	Segment income before income taxes excludes net losses on interest rate swaps of $0.3 million and $1.3 million for the three months ended September 30, 2013 and 2012.
	Note 8—Segment and Geographic Information (Continued)
		Nine Months Ended September 30,
		2013								2012
		Equipment			Equipment		Totals			Equipment			Equipment		Totals
		Leasing			Trading					Leasing			Trading
	Total revenues	$	412,894		$	73,571	$	486,465		$	382,614		$	54,762	$	437,376
	Equipment trading expenses	—			55,082		55,082			—			42,867		42,867
	Depreciation and amortization expense	149,912			1,558		151,470			141,594			2,935		144,529
	Net (gain) on sale of leasing equipment	(22,580		)	—		(22,580		)	(35,229		)	—		(35,229		)
	Interest and debt expense	82,313			1,978		84,291			82,723			2,365		85,088
	Income before income taxes(1)	150,538			13,921		164,459			143,722			5,866		149,588
	Equipment held for sale at September 30	30,065			14,458		44,523			13,870			15,592		29,462
	Goodwill at September 30	73,523			1,000		74,523			70,898			1,000		71,898
	Total assets at September 30	3,840,716			69,335		3,910,051			3,574,748			66,733		3,641,481
	Purchases of leasing equipment and investments in finance leases(2)	520,487			14,397		534,884			767,960			5,626		773,586
	_______________________________________________________________________________
	-1	Segment income before income taxes excludes net gains on interest rate swaps of $8.1 million and net losses on interest rate swaps of $5.0 million for the nine months ended September 30, 2013 and 2012, respectively, and the write-off of deferred financing costs of $2.6 million for the nine months ended September 30, 2013.
	-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.
	There are no intercompany revenues or expenses between segments. Additionally, 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 was purchased through certain sale-leaseback transactions with our shipping line customers. Due to the expected longer term nature of these transactions, these purchases are reflected as leasing equipment as opposed to equipment held for sale and the cash flows associated with these transactions are and will be 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 earns its revenues from international containers which are deployed by its customers in a wide variety of global trade routes. Substantially all of the Company's leasing related revenue is denominated in U.S. dollars. The following table represents the geographic allocation of revenues for the periods indicated based on customers' primary domicile and allocates equipment trading revenue based on the location of sale (in thousands):
		Three Months Ended					Nine Months Ended
		September 30,					September 30,
		2013			2012		2013			2012
	Total revenues:
	United States of America	$	9,863		$	10,282	$	31,065		$	33,672
	Asia	69,352			62,018		219,531			187,287
	Europe	69,972			68,576		206,566			191,607
	Other International	9,241			8,145		29,303			24,810
	Total	$	158,428		$	149,021	$	486,465		$	437,376
	As all of the Company's containers are used internationally, where no one container is domiciled in one particular place for a prolonged period of time, substantially all of the Company's long-lived assets are considered to be international.

Commitments_and_Contingencies

Commitments and Contingencies	9 Months Ended
	Sep. 30, 2013
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies
	Residual Value Guarantees
	During 2008, the Company entered into commitments for equipment residual value guarantees in connection with certain finance leases that were sold or brokered to financial institutions. The guarantees represent the Company's commitment that these assets will be worth a specified amount at the end of certain lease terms (if the lessee does not default on the lease) which expire in 2016. At September 30, 2013, the maximum potential amount of the guarantees under which the Company could be required to perform was approximately $27.1 million. The carrying values of the guarantees of $1.1 million have been deferred and are included in accounts payable and accrued expenses. Under the criteria established by ASC 820, the Company performed fair value measurements of the guarantees at origination using Level 2 inputs, which were based on significant other observable inputs other than quoted prices, either on a direct or indirect basis. The Company accounts for the residual value guarantees under Accounting Standards Codification 460, Guarantees. The Company expects that the market value of the equipment covered by the guarantees will equal or exceed the value of the guarantees and therefore, no contingent loss has been provided as of September 30, 2013.
	Purchase Commitments
	At September 30, 2013, commitments for capital expenditures totaled approximately $182.2 million.

Income_Taxes

Income Taxes	9 Months Ended
	Sep. 30, 2013
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes
	The consolidated income tax expense for the three and nine months ended September 30, 2013 and 2012 was determined based upon estimates of the Company's consolidated effective income tax rates for the year ending December 31, 2013 and the year ended December 31, 2012. The difference between the consolidated effective income tax rate and the U.S. federal statutory rate is primarily attributable to state income taxes, foreign income taxes and the effect of certain permanent differences.

Subsequent_Events

Subsequent Events	9 Months Ended
	Sep. 30, 2013
Subsequent Events [Abstract]
Subsequent Events	Subsequent Events
	Quarterly Dividend
	On October 22, 2013, the Company's Board of Directors approved and declared a $0.70 per share quarterly cash dividend on its issued and outstanding common stock, payable on December 23, 2013 to shareholders of record at the close of business on December 2, 2013.

Description_of_the_Business_Ba1

Description of the Business, Basis of Presentation and Recently Adopted Accounting Pronouncements (Policies)	9 Months Ended
	Sep. 30, 2013
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	Basis of Presentation
	The preparation of financial statements in conformity with U.S. generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the reported amounts of revenues and expenses during the reporting period and disclosure of contingent assets and liabilities at the date of the financial statements. Actual results could differ from those estimates.
	The consolidated financial statements include the accounts of the Company and its subsidiaries. All intercompany transactions and balances have been eliminated in consolidation. Certain reclassifications have been made to the accompanying prior period financial statements and notes to conform to the current year's presentation.
Recently Adopted Accounting Pronouncements	Recently Adopted Accounting Pronouncements
	In February 2013, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update No. 2013-2 ("ASU 2013-2"), Comprehensive Income (Topic 220): Reporting of Amounts Reclassified Out of Accumulated Other Comprehensive Income. ASU 2013-2 requires the presentation, in one place, of information about reclassifications out of accumulated other comprehensive income. Additionally, ASU 2013-2 requires the presentation of reclassifications out of accumulated other comprehensive income by component for periods in which changes in accumulated other comprehensive income balances are presented. The Company has adopted ASU 2013-2 effective January 1, 2013. The Company's adoption of ASU 2013-2 had no impact on the Company's consolidated financial statements as it is disclosure-only in nature.

Fair_Value_of_Financial_Instru1

Fair Value of Financial Instruments (Tables)	9 Months Ended
	Sep. 30, 2013
Fair Value Disclosures [Abstract]
Schedule of fair value, which was measured using Level 2 inputs, and the carrying value of the entity's debt	The fair value, which was measured using Level 2 inputs, and the carrying value of the Company's debt are listed in the table below as of the dates indicated (in thousands).
		September 30,		December 31,
		2013		2012
	Liabilities
	Debt—carrying value	$	2,801,749	$	2,604,015
	Debt—estimated fair value	$	2,789,692	$	2,701,668

Dividends_Tables

Dividends (Tables)	9 Months Ended
	Sep. 30, 2013
Stockholders' Equity Note [Abstract]
Schedule of quarterly dividends paid	The Company paid the following quarterly dividends during the nine months ended September 30, 2013 and 2012 on its issued and outstanding common stock:
	Record Date	Payment	Aggregate	Per Share
		Date	Payment	Payment
	3-Sep-13	24-Sep-13	$22.8 Million	$0.68
	4-Jun-13	25-Jun-13	$22.1 Million	$0.66
	7-Mar-13	March 28, 2013	$21.4 Million	$0.64
	4-Sep-12	25-Sep-12	$20.0 Million	$0.60
	1-Jun-12	22-Jun-12	$19.2 Million	$0.58
	March 8, 2012	March 29, 2012	$18.3 Million	$0.55

Capital_Stock_and_Stock_Option1

Capital Stock and Stock Options (Tables)	9 Months Ended
	Sep. 30, 2013
Equity [Abstract]
Schedule of accumulated other comprehensive (loss)	Accumulated other comprehensive income (loss) consisted of the following as of the dates indicated (in thousands and net of tax effects):
		Cash Flow			Foreign				Accumulated Other Comprehensive Income (Loss)
		Hedges			Currency
					Translation
	Balance as of December 31, 2012	$	(7,481	)	$	(949	)		$	(8,430	)
	Change in fair value of derivative instruments designated as cash flow hedges	6,847			—				6,847
	Reclassification of realized loss on interest rate swap agreements designated as cash flow hedges	2,933			—				2,933
	Amortization of net loss on derivative instruments previously designated as cash flow hedges	1,484			—				1,484
	Foreign currency translation adjustment	—			(57		)		(57		)
	Other comprehensive income (loss)	11,264			(57		)		11,207
	Balance at September 30, 2013	$	3,783		$	(1,006	)		$	2,777
Schedule of reclassifications out of accumulated other comprehensive (loss)	The following table presents reclassifications out of Accumulated other comprehensive income (loss) for the period indicated (in thousands):
		Amounts Reclassified From Accumulated Other Comprehensive Income (Loss)						Affected Line Item
								in the Consolidated
		Three Months Ended September 30, 2013			Nine Months Ended September 30, 2013			Statements of Income
	Realized loss on interest rate swap agreements, designated as cash flow hedges	$	2,701		$	4,533		Interest and debt expense
	Amortization of net loss on derivative instruments previously designated as cash flow hedges	748			2,296			Interest and debt expense
	Amounts reclassified from Accumulated other comprehensive income	3,449			6,829			Income before income taxes
	Income tax (benefit)	(1,219		)	(2,412		)	Income tax expense
	Amounts reclassified from Accumulated other comprehensive income (loss)	$	2,230		$	4,417		Net income

Net_Investment_in_Finance_Leas1

Net Investment in Finance Leases (Tables)	9 Months Ended
	Sep. 30, 2013
Leases, Capital [Abstract]
Schedule of components of the net investment in finance leases	The following table represents the components of the net investment in finance leases (in thousands):
		September 30,			December 31,
		2013			2012
	Gross finance lease receivables	$	255,927		$	152,321
	Allowance on gross finance lease receivables	(1,056		)	(897		)
	Gross finance lease receivables, net of allowance	254,871			151,424
	Unearned income	(48,960		)	(29,491		)
	Net investment in finance leases	$	205,911		$	121,933
Schedule of categories of gross finance lease receivables based on the Company's internal customer credit ratings	Based on the above categories, the Company's gross finance lease receivables are as follows (in thousands):
		September 30,			December 31,
		2013			2012
	Tier 1	$	220,217		$	109,883
	Tier 2	35,710			42,438
	Tier 3	—			—
	Gross finance lease receivables	$	255,927		$	152,321
Schedule of activity of allowance on gross finance lease receivables	The following table represents the activity of the Company's allowance on gross finance lease receivables for the periods presented (in thousands):
		Beginning			Additions/			Ending
		Balance			(Reversals)			Balance
	Finance Lease—Allowance for doubtful accounts:
	For the nine months ended
	30-Sep-13	$	897		$	159		$	1,056
	30-Sep-12	$	1,073		$	(152	)	$	921

Debt_Tables

Debt (Tables)	9 Months Ended
	Sep. 30, 2013
Debt Disclosure [Abstract]
Schedule of debt instruments	Debt consisted of the following (amounts in thousands):
		September 30,		December 31,
		2013		2012
	Asset backed securitization (ABS) term notes	$	1,242,212	$	1,343,826
	Term loan facilities	780,128		698,570
	Asset backed warehouse facility	210,500		355,000
	Revolving credit facilities	450,000		75,000
	Capital lease obligations	118,909		131,619
	Total Debt	$	2,801,749	$	2,604,015

Derivative_Instruments_Tables

Derivative Instruments (Tables)

9 Months Ended

Sep. 30, 2013

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of interest rate swap contracts

As of September 30, 2013, the Company had net interest rate swap agreements in place to fix the floating interest rates on a portion of the borrowings under its debt facilities as summarized below:

Net Notional

Weighted Average

Weighted Average

Amount(1)

Fixed Leg (Pay) Interest Rate(2)

Remaining Term(2)

$987.5 Million

1.47%

6.0 years

_______________________________________________________________________________

-1

As of September 30, 2013, the net notional amount outstanding on the Company's interest rate swap agreements is comprised of $1,303.1 million of pay-fixed rate/receive-floating rate agreements and $315.6 million of pay-floating rate/receive-fixed rate agreements. The Company entered into the pay-floating rate/receive-fixed rate agreements at the parent company level to offset the cash flows on certain pay-fixed rate/receive-floating rate agreements of certain wholly owned subsidiaries. The pay-floating rate/receive-fixed rate and pay-fixed rate/receive-floating rate agreements have terms that offset each other.

-2

The calculations of weighted average fixed (pay) leg interest rate and weighted average remaining term on the Company's interest rate swap agreements reflect the impact of the pay-floating rate/receive-fixed rate agreements and the pay-fixed rate/receive-floating rate agreements they offset.

Schedule of fair value of derivative instruments

Fair Value of Derivative Instruments

(In Millions)

Asset Derivatives

Liability Derivatives

September 30, 2013

December 31, 2012

September 30, 2013

December 31, 2012

Derivative Instrument

Balance

Fair

Balance

Fair

Balance

Fair

Balance

Fair

Sheet

Value

Sheet

Value

Sheet

Value

Sheet

Value

Location

Location

Location

Location

Interest rate swap contracts, designated as cash flow hedges

Fair value of derivative instruments

$

17.5

Fair value of derivative instruments

$

—

Fair value of derivative instruments

$

2.4

Fair value of derivative instruments

$

—

Interest rate swap contracts, not designated

Fair value of derivative instruments

0.2

Fair value of derivative instruments

1.4

Fair value of derivative instruments

1.1

Fair value of derivative instruments

34.6

Foreign exchange contracts, not designated

Fair value of derivative instruments

0.2

Fair value of derivative instruments

0.5

Fair value of derivative instruments

—

Fair value of derivative instruments

—

Total derivatives

$

17.9

$

1.9

$

3.5

$

34.6

Schedule of derivatives instruments and their effect on consolidated statements of operations and consolidated statements of comprehensive income

Note 7—Derivative Instruments (Continued)

Effect of Derivative Instruments on Consolidated Statements of Income and

Consolidated Statements of Comprehensive Income

(In Millions)

Three Months Ended September 30,

Nine Months Ended

Location of (Gain) Loss on

September 30,

Derivative Instruments

2013

2012

2013

2012

Realized loss on interest rate swap agreements

Interest expense

$

3

$

5.4

$

9

$

18.2

Unrealized loss (gain) on interest rate swap agreements, designated as cash flow hedges

Other comprehensive income

4.9

—

(15.1

)

1.8

Net (gain) loss on interest rate swaps, not designated

Net loss (gain) on interest rate swaps

0.3

1.3

(8.1

)

5

Foreign exchange agreements, not designated

Administrative expenses

0.1

0.1

0.3

0.1

Segment_and_Geographic_Informa1

Segment and Geographic Information (Tables)	9 Months Ended
	Sep. 30, 2013
Segment Reporting [Abstract]
Schedule of segment information	The following tables show segment information for the periods indicated and the consolidated totals reported (dollars in thousands):
		Three Months Ended September 30,
		2013								2012
		Equipment			Equipment		Totals			Equipment			Equipment		Totals
		Leasing			Trading					Leasing			Trading
	Total revenues	$	140,735		$	17,693	$	158,428		$	134,038		$	14,983	$	149,021
	Equipment trading expenses	—			11,977		11,977			—			11,273		11,273
	Depreciation and amortization expense	51,958			363		52,321			51,222			933		52,155
	Net (gain) on sale of leasing equipment	(4,293		)	—		(4,293		)	(11,317		)	—		(11,317		)
	Interest and debt expense	26,510			595		27,105			29,655			735		30,390
	Income before income taxes(1)	49,320			4,456		53,776			47,801			1,858		49,659
	_______________________________________________________________________________
	-1	Segment income before income taxes excludes net losses on interest rate swaps of $0.3 million and $1.3 million for the three months ended September 30, 2013 and 2012.
	Note 8—Segment and Geographic Information (Continued)
		Nine Months Ended September 30,
		2013								2012
		Equipment			Equipment		Totals			Equipment			Equipment		Totals
		Leasing			Trading					Leasing			Trading
	Total revenues	$	412,894		$	73,571	$	486,465		$	382,614		$	54,762	$	437,376
	Equipment trading expenses	—			55,082		55,082			—			42,867		42,867
	Depreciation and amortization expense	149,912			1,558		151,470			141,594			2,935		144,529
	Net (gain) on sale of leasing equipment	(22,580		)	—		(22,580		)	(35,229		)	—		(35,229		)
	Interest and debt expense	82,313			1,978		84,291			82,723			2,365		85,088
	Income before income taxes(1)	150,538			13,921		164,459			143,722			5,866		149,588
	Equipment held for sale at September 30	30,065			14,458		44,523			13,870			15,592		29,462
	Goodwill at September 30	73,523			1,000		74,523			70,898			1,000		71,898
	Total assets at September 30	3,840,716			69,335		3,910,051			3,574,748			66,733		3,641,481
	Purchases of leasing equipment and investments in finance leases(2)	520,487			14,397		534,884			767,960			5,626		773,586
	_______________________________________________________________________________
	-1	Segment income before income taxes excludes net gains on interest rate swaps of $8.1 million and net losses on interest rate swaps of $5.0 million for the nine months ended September 30, 2013 and 2012, respectively, and the write-off of deferred financing costs of $2.6 million for the nine months ended September 30, 2013.
	-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 represents the geographic allocation of revenues for the periods indicated based on customers' primary domicile and allocates equipment trading revenue based on the location of sale (in thousands):
		Three Months Ended					Nine Months Ended
		September 30,					September 30,
		2013			2012		2013			2012
	Total revenues:
	United States of America	$	9,863		$	10,282	$	31,065		$	33,672
	Asia	69,352			62,018		219,531			187,287
	Europe	69,972			68,576		206,566			191,607
	Other International	9,241			8,145		29,303			24,810
	Total	$	158,428		$	149,021	$	486,465		$	437,376

Description_of_the_Business_Ba2

Description of the Business, Basis of Presentation and Recently Adopted Accounting Pronouncements (Details) (USD $)	3 Months Ended	9 Months Ended
In Millions, except Per Share data, unless otherwise specified	Sep. 30, 2013	Sep. 30, 2013
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Decrease in depreciation expense	$4.70	$14.60
Decrease in depreciation expense after tax	$3	$9.50
Decrease in depreciation expense per diluted common share (in dollars per share)	$0.09	$0.28

Description_of_the_Business_Ba3

Description of the Business, Basis of Presentation and Recently Adopted Accounting Pronouncements Description of the Business, Basis of Presentation and Recently Adopted Accounting Pronouncements (Details 2) (Details) (USD $)	0 Months Ended
In Millions, unless otherwise specified	Jul. 02, 2013
Business Combination [Abstract]
Business Combination, Consideration Transferred	$11.90
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Property, Plant and Equipment	8.5
Finite-lived Intangible Assets, Off-market Lease, Favorable, Gross	0.8
Goodwill, Acquired During Period	$2.60

Fair_Value_of_Financial_Instru2

Fair Value of Financial Instruments (Details) (USD $)	Sep. 30, 2013	Dec. 31, 2012
In Thousands, unless otherwise specified
Liabilities
Debt	$2,801,749	$2,604,015
Carrying Value
Liabilities
Debt	2,801,749	2,604,015
Estimate of Fair Value | Level 2
Liabilities
Debt	$2,789,692	$2,701,668

Dividends_Details

Dividends (Details) (USD $)	0 Months Ended						3 Months Ended		9 Months Ended
In Thousands, except Per Share data, unless otherwise specified	Sep. 24, 2013	Jun. 25, 2013	Mar. 28, 2013	Sep. 25, 2012	Jun. 22, 2012	Mar. 29, 2012	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2013	Sep. 30, 2012
Stockholders' Equity Note [Abstract]
Aggregate dividend payment	$22,800	$22,100	$21,400	$20,000	$19,200	$18,300			$66,300	$57,479
Per share dividend payment (in dollars per share)	$0.68	$0.66	$0.64	$0.60	$0.58	$0.55	$0.68	$0.60	$1.98	$1.73

Capital_Stock_and_Stock_Option2

Capital Stock and Stock Options (Narrative) (Details) (USD $)	3 Months Ended		9 Months Ended
	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2013	Sep. 30, 2012
Stock based compensation plans
Stock compensation charge	$1,100,000	$800,000	$4,099,000	$2,882,000
Restricted stock
Stock based compensation plans
Total unrecognized compensation cost	$6,300,000		$6,300,000
Weighted-average vesting period over which unrecognized compensation is expected to be recognized			1 year 10 months 16 days
Stock options
Stock based compensation plans
Exercised (in shares)			34,150
Number of shares withheld and subsequently canceled and retired			16,153

Capital_Stock_and_Stock_Option3

Capital Stock and Stock Options (Details 2) (USD $)	3 Months Ended		9 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2013	Sep. 30, 2012
Accumulated Other Comprehensive Income (Loss)
Balance at the beginning of the period			($8,430)
Change in fair value of derivative instruments designated as cash flow hedges	-3,172	0	9,780	-1,145
Amortization of net loss on derivative instruments previously designated as cash flow hedges	482	549	1,484	1,595
Foreign currency translation adjustment	288	118	-57	183
Other comprehensive (loss) income, net of tax	-2,402	667	11,207	633
Balance at the end of the period	2,777		2,777
Cash Flow Hedges
Accumulated Other Comprehensive Income (Loss)
Balance at the beginning of the period			-7,481
Change in fair value of derivative instruments designated as cash flow hedges			6,847
Reclassification of realized loss on interest rate swap agreements designated as cash flow hedges			2,933
Amortization of net loss on derivative instruments previously designated as cash flow hedges			1,484
Foreign currency translation adjustment			0
Other comprehensive (loss) income, net of tax			11,264
Balance at the end of the period	3,783		3,783
Foreign Currency Translation
Accumulated Other Comprehensive Income (Loss)
Balance at the beginning of the period			-949
Change in fair value of derivative instruments designated as cash flow hedges			0
Reclassification of realized loss on interest rate swap agreements designated as cash flow hedges			0
Amortization of net loss on derivative instruments previously designated as cash flow hedges			0
Foreign currency translation adjustment			-57
Other comprehensive (loss) income, net of tax			-57
Balance at the end of the period	-1,006		-1,006
Accumulated Other Comprehensive (Loss) Income
Accumulated Other Comprehensive Income (Loss)
Balance at the beginning of the period			-8,430
Change in fair value of derivative instruments designated as cash flow hedges			6,847
Reclassification of realized loss on interest rate swap agreements designated as cash flow hedges			2,933
Amortization of net loss on derivative instruments previously designated as cash flow hedges			1,484
Foreign currency translation adjustment			-57
Other comprehensive (loss) income, net of tax			11,207
Balance at the end of the period	$2,777		$2,777

Capital_Stock_and_Stock_Option4

Capital Stock and Stock Options (Details 3) (USD $)	3 Months Ended		9 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2013	Sep. 30, 2012
Amounts Reclassified from AOCI
Realized loss on interest rate swap agreements, designated as cash flow hedges	$27,105	$30,390	$84,291	$85,088
Amortization of net loss on terminated derivative instruments designated as cash flow hedges			2,296	2,466
Income tax (benefit)	18,820	17,220	59,949	51,169
Amounts reclassified from Accumulated other comprehensive income (loss)	-34,661	-31,153	-110,057	-93,377
Cash Flow Hedges | Amounts Reclassified From Accumulated Other Comprehensive Income
Amounts Reclassified from AOCI
Realized loss on interest rate swap agreements, designated as cash flow hedges	2,701		4,533
Amortization of net loss on terminated derivative instruments designated as cash flow hedges	748	850	2,296	2,466
Amounts reclassified from Accumulated other comprehensive income	3,449		6,829
Income tax (benefit)	-1,219		-2,412
Amounts reclassified from Accumulated other comprehensive income (loss)	$2,230		$4,417

Net_Investment_in_Finance_Leas2

Net Investment in Finance Leases (Details) (USD $)	108 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2012	Sep. 30, 2013
Components of the net investment in finance leases
Gross finance lease receivables	$152,321	$255,927
Allowance on gross finance lease receivables	-897	-1,056
Gross finance lease receivables, net of allowance	151,424	254,871
Unearned income	-29,491	-48,960
Net investment in finance leases	$121,933	$205,911
Company's historical loss experience on its gross finance lease receivables, after considering equipment recoveries, maximum	1.00%

Net_Investment_in_Finance_Leas3

Net Investment in Finance Leases (Details 2) (USD $)	9 Months Ended
	Sep. 30, 2012	Sep. 30, 2013	Dec. 31, 2012
Gross finance lease receivables based on the company's internal customer credit rating
Gross finance lease receivables		$255,927,000	$152,321,000
Number of days gross finance lease were past due	31 days
Impaired Financing Receivable, with Related Allowance, Recorded Investment		0
Tier 1
Gross finance lease receivables based on the company's internal customer credit rating
Gross finance lease receivables		220,217,000	109,883,000
Gross finance lease receivables past due		400,000
Tier 2
Gross finance lease receivables based on the company's internal customer credit rating
Gross finance lease receivables		35,710,000	42,438,000
Gross finance lease receivables past due		200,000
Tier 3
Gross finance lease receivables based on the company's internal customer credit rating
Gross finance lease receivables		$0	$0

Net_Investment_in_Finance_Leas4

Net Investment in Finance Leases (Details 3) (Finance Lease - Allowance for doubtful accounts, USD $)	9 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2013	Sep. 30, 2012
Finance Lease - Allowance for doubtful accounts
Changes in valuation and qualifying accounts
Beginning Balance	$897	$1,073
Additions/ (Reversals)	159	-152
Ending Balance	$1,056	$921

Debt_Details

Debt (Details) (USD $)

9 Months Ended

0 Months Ended

1 Months Ended

24 Months Ended

48 Months Ended

Sep. 30, 2013

Sep. 30, 2012

Dec. 31, 2012

Sep. 30, 2013

20-May-13

Sep. 30, 2013

Dec. 31, 2012

Feb. 28, 2013

Feb. 28, 2013

Sep. 30, 2013

Dec. 31, 2012

Sep. 30, 2013

Jul. 31, 2013

Apr. 30, 2013

Dec. 31, 2012

Jul. 31, 2013

Sep. 30, 2013

Mar. 31, 2013

Dec. 31, 2012

Sep. 30, 2013

Dec. 31, 2012

2-May-13

2-May-13

Jul. 31, 2013

Jul. 02, 2015

Jul. 31, 2013

Jul. 02, 2019

Interest rate swaps

Asset backed securitization (ABS) term notes

Asset backed securitization (ABS) term notes

Asset backed securitization (ABS) term notes

Asset backed securitization (ABS) term notes

Asset backed securitization (ABS) term notes

Term loan facilities

Term loan facilities

Asset backed warehouse facility

Asset backed warehouse facility

Asset backed warehouse facility

Asset backed warehouse facility

Term notes

Revolving credit facilities

Revolving credit facilities

Revolving credit facilities

Capital lease obligations

Capital lease obligations

Rate before revision

Rate after revision

Minimum [Member]

CreditSpreadDuringRevolvingPeriod [Member]

CreditSpreadDuringRevolvingPeriod [Member]

DebtInstrumentBasisSpreadOnVariableRateDebtTermPeriod [Member]

Class A fixed rate secured notes

Class B fixed rate secured notes

Asset backed securitization (ABS) term notes

Asset backed warehouse facility

Asset backed warehouse facility

Asset backed warehouse facility

Debt

Total debt

$2,801,749,000

$2,604,015,000

$1,242,212,000

$1,343,826,000

$780,128,000

$698,570,000

$210,500,000

$355,000,000

$450,000,000

$75,000,000

$118,909,000

$131,619,000

Debt outstanding on facilities with fixed interest rates

1,238,400,000

Debt outstanding on facilities with interest rates based on floating rate indices

1,563,300,000

Net notional amount

987,500,000

[1]

Payments under debt facilities and capital lease obligations

1,323,590,000

769,127,000

190,000,000

Interest rate

5.50%

3.25%

Notes issued

253,000,000

18,800,000

Borrowing capacity, before increase/decrease

600,000,000

Borrowing capacity

550,000,000

550,000,000

450,000,000

Term Notes Previous Asset Base

400,000,000

Term Notes Asset Base

$50,000,000

Debt Instrument, Amortization Term

4 years

Maximum Amortization Percent of Outstanding Balance

60.00%

Debt Instrument, Basis Spread on Variable Rate

1.95%

2.95%

Debt Instrument, Advance Rate Used in Calculating Borrowing Capacity

81.00%

Term of Revolving Period

2 years

[1]

As of SeptemberB 30, 2013, the net notional amount outstanding on the Company's interest rate swap agreements is comprised of $1,303.1 million of pay-fixed rate/receive-floating rate agreements and $315.6 million of pay-floating rate/receive-fixed rate agreements. The Company entered into the pay-floating rate/receive-fixed rate agreements at the parent company level to offset the cash flows on certain pay-fixed rate/receive-floating rate agreements of certain wholly owned subsidiaries. The pay-floating rate/receive-fixed rate and pay-fixed rate/receive-floating rate agreements have terms that offset each other.

Derivative_Instruments_Details

Derivative Instruments (Details)

3 Months Ended

9 Months Ended

3 Months Ended

9 Months Ended

3 Months Ended

3 Months Ended

9 Months Ended

Sep. 30, 2013

Sep. 30, 2012

Sep. 30, 2013

Sep. 30, 2012

Dec. 31, 2012

Sep. 30, 2013

Sep. 30, 2013

Sep. 30, 2013

Sep. 30, 2013

Sep. 30, 2013

Sep. 30, 2013

Sep. 30, 2013

Sep. 30, 2013

Sep. 30, 2013

Sep. 30, 2012

Sep. 30, 2013

Sep. 30, 2012

USD ($)

USD ($)

USD ($)

USD ($)

USD ($)

Interest rate swaps

Interest rate swaps

Interest Rate Swap Pay Fixed Rate Receive Floating Rate [Member]

Interest Rate Swap Pay Fixed Rate Receive Floating Rate Lower Fixed Interest Rates [Member]

Foreign exchange agreements

Foreign exchange agreements

Interest Rate Swap Pay Floating Rate Receive Fixed Rate [Member]

Interest Rate Swap Pay Fixed Rate Receive Floating Rate [Member]

Cash Flow Hedges

Cash Flow Hedges

Cash Flow Hedges

Cash Flow Hedges

USD ($)

USD ($)

USD ($)

USD ($)

USD ($)

EUR (€)

Interest rate swaps

Interest rate swaps

Amounts Reclassified From Accumulated Other Comprehensive Income

Amounts Reclassified From Accumulated Other Comprehensive Income

Amounts Reclassified From Accumulated Other Comprehensive Income

Amounts Reclassified From Accumulated Other Comprehensive Income

USD ($)

USD ($)

USD ($)

USD ($)

USD ($)

USD ($)

Derivative Instruments

Amortization of net loss on terminated derivative instruments designated as cash flow hedges

$2,296,000

$2,466,000

$748,000

$850,000

$2,296,000

$2,466,000

Net Notional Amount of Interest Rate Swaps

987,500,000

[1]

987,500,000

[1]

Weighted average fixed leg (Pay) interest rate (as a percent)

1.47%

[2]

1.47%

[2]

Weighted Average Remaining Term

6 years

[2]

Notional Amount of Fixed Rate Interest Rate Swaps

315,600,000

1,303,100,000

Notional amount of derivative contracts terminated

654,300,000

Notional Amount of Derivative Contracts

910,000,000

Payments to Terminate Derivatives

24,235,000

19,444,000

Fair value of derivative instruments (assets)

17,948,000

17,948,000

1,904,000

Fair value of derivative instruments (liabilities)

3,498,000

3,498,000

34,633,000

Unamortized pre-tax balance in accumulated other comprehensive loss attributable to interest rate swap contracts

5,900,000

Unamortized pre-tax balance in accumulated other comprehensive loss attributable to interest rate swap which is expected to be amortized over the next 12 months

13,700,000

Foreign Currency Rate Swaps

Payments in Euros under foreign currency rate swap agreements

1,200,000

Receipts in U.S. dollars under foreign currency rate swap agreements

1,800,000

Net loss (gain) on interest rate swaps

$295,000

$1,286,000

($8,125,000)

$5,042,000

[1]

As of SeptemberB 30, 2013, the net notional amount outstanding on the Company's interest rate swap agreements is comprised of $1,303.1 million of pay-fixed rate/receive-floating rate agreements and $315.6 million of pay-floating rate/receive-fixed rate agreements. The Company entered into the pay-floating rate/receive-fixed rate agreements at the parent company level to offset the cash flows on certain pay-fixed rate/receive-floating rate agreements of certain wholly owned subsidiaries. The pay-floating rate/receive-fixed rate and pay-fixed rate/receive-floating rate agreements have terms that offset each other.

[2]

The calculations of weighted average fixed (pay) leg interest rate and weighted average remaining term on the Company's interest rate swap agreements reflect the impact of the pay-floating rate/receive-fixed rate agreements and the pay-fixed rate/receive-floating rate agreements they offset.

Derivative_Instruments_Details1

Derivative Instruments (Details 2) (USD $)	Sep. 30, 2013	Dec. 31, 2012
In Thousands, unless otherwise specified
Fair Value of Derivative Instruments
Fair value of derivative instruments (assets)	$17,948	$1,904
Fair value of derivative instruments (liabilities)	3,498	34,633
Interest rate swap agreements | Designated as cash flow hedges
Fair Value of Derivative Instruments
Fair value of derivative instruments (assets)	17,500	0
Fair value of derivative instruments (liabilities)	2,400	0
Interest rate swap agreements | Derivatives Not Designated as Hedging Instruments
Fair Value of Derivative Instruments
Fair value of derivative instruments (assets)	200	1,400
Fair value of derivative instruments (liabilities)	1,100	34,600
Foreign exchange agreements | Derivatives Not Designated as Hedging Instruments
Fair Value of Derivative Instruments
Fair value of derivative instruments (assets)	200	500
Fair value of derivative instruments (liabilities)	$0	$0

Derivative_Instruments_Details2

Derivative Instruments (Details 3) (USD $)	3 Months Ended		9 Months Ended
	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2013	Sep. 30, 2012
Effect of Derivative Instruments on Consolidated Statements of Income and Consolidated Statements of Comprehensive Income
Loss on Cash Flow Hedge Ineffectiveness			$0
Net (gain) loss on interest rate swaps, not designated	-295,000	-1,286,000	8,125,000	-5,042,000
Interest rate swap agreements | Derivatives Not Designated as Hedging Instruments
Effect of Derivative Instruments on Consolidated Statements of Income and Consolidated Statements of Comprehensive Income
Net (gain) loss on interest rate swaps, not designated	300,000	1,300,000	-8,100,000	5,000,000
Interest rate swap agreements | Designated as cash flow hedges | Other comprehensive income
Effect of Derivative Instruments on Consolidated Statements of Income and Consolidated Statements of Comprehensive Income
Unrealized loss (gain) on interest rate swap agreements, designated as cash flow hedges	4,900,000	0	-15,100,000	1,800,000
Interest rate swap agreements | Designated as cash flow hedges | Interest expense
Effect of Derivative Instruments on Consolidated Statements of Income and Consolidated Statements of Comprehensive Income
Realized loss on interest rate swap agreements	3,000,000	5,400,000	9,000,000	18,200,000
Foreign exchange agreements | Derivatives Not Designated as Hedging Instruments | Administrative expenses
Effect of Derivative Instruments on Consolidated Statements of Income and Consolidated Statements of Comprehensive Income
Foreign exchange agreements, not designated	$100,000	$100,000	$300,000	$100,000

Segment_and_Geographic_Informa2

Segment and Geographic Information (Details) (USD $)	3 Months Ended				9 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2013		Sep. 30, 2012		Sep. 30, 2013		Sep. 30, 2012		Dec. 31, 2012
					industry
					segment
Industry Segment Information
Number of Industries in which Business Activities Conducted					1
Number of Reportable Segments					2
Total revenues	$158,428		$149,021		$486,465		$437,376
Equipment trading expenses	11,977		11,273		55,082		42,867
Depreciation and amortization expense	52,321		52,155		151,470		144,529
Net (gain) on sale of leasing equipment	-4,293		-11,317		-22,580		-35,229
Interest and debt expense	27,105		30,390		84,291		85,088
Income before income taxes	53,776	[1]	49,659	[1]	164,459	[2]	149,588	[2]
Equipment held for sale	44,523		29,462		44,523		29,462		47,139
Goodwill at the end of the period	74,523		71,898		74,523		71,898		71,898
Total assets at the end of the period	3,910,051		3,641,481		3,910,051		3,641,481		3,701,194
Purchases of leasing equipment and investments in finance leases					534,884	[3]	773,586	[3]
Net loss (gain) on interest rate swaps	295		1,286		-8,125		5,042
Write-off of deferred financing costs	0		0		2,578		0
Costs and Expenses	77,547		68,972		237,715		202,700
Equipment leasing
Industry Segment Information
Total revenues	140,735		134,038		412,894		382,614
Equipment trading expenses	0		0		0		0
Depreciation and amortization expense	51,958		51,222		149,912		141,594
Net (gain) on sale of leasing equipment	-4,293		-11,317		-22,580		-35,229
Interest and debt expense	26,510		29,655		82,313		82,723
Income before income taxes	49,320	[1]	47,801	[1]	150,538	[2]	143,722	[2]
Equipment held for sale	30,065		13,870		30,065		13,870
Goodwill at the end of the period	73,523		70,898		73,523		70,898
Total assets at the end of the period	3,840,716		3,574,748		3,840,716		3,574,748
Purchases of leasing equipment and investments in finance leases					520,487	[3]	767,960	[3]
Equipment trading
Industry Segment Information
Total revenues	17,693		14,983		73,571		54,762
Equipment trading expenses	11,977		11,273		55,082		42,867
Depreciation and amortization expense	363		933		1,558		2,935
Net (gain) on sale of leasing equipment	0		0		0		0
Interest and debt expense	595		735		1,978		2,365
Income before income taxes	4,456	[1]	1,858	[1]	13,921	[2]	5,866	[2]
Equipment held for sale	14,458		15,592		14,458		15,592
Goodwill at the end of the period	1,000		1,000		1,000		1,000
Total assets at the end of the period	69,335		66,733		69,335		66,733
Purchases of leasing equipment and investments in finance leases					14,397	[3]	5,626	[3]
Intersegment Elimination [Member]
Industry Segment Information
Total revenues	0		0		0		0
Costs and Expenses	$0		$0		$0		$0
[1]	Segment income before income taxes excludes net losses on interest rate swaps of $0.3 million and $1.3 million for the three months ended SeptemberB 30, 2013 and 2012.
[2]	Segment income before income taxes excludes net gains on interest rate swaps of $8.1 million and net losses on interest rate swaps of $5.0 million for the nine months ended SeptemberB 30, 2013 and 2012, respectively, and the write-off of deferred financing costs of $2.6 million for the nine months ended SeptemberB 30, 2013.
[3]	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.

Segment_and_Geographic_Informa3

Segment and Geographic Information (Details 2) (USD $)	3 Months Ended		9 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2013	Sep. 30, 2012
Geographic Segment Information
Total revenues	$158,428	$149,021	$486,465	$437,376
United States of America
Geographic Segment Information
Total revenues	9,863	10,282	31,065	33,672
Asia
Geographic Segment Information
Total revenues	69,352	62,018	219,531	187,287
Europe
Geographic Segment Information
Total revenues	69,972	68,576	206,566	191,607
Other international
Geographic Segment Information
Total revenues	$9,241	$8,145	$29,303	$24,810

Commitments_and_Contingencies_

Commitments and Contingencies (Details) (USD $)	9 Months Ended
In Millions, unless otherwise specified	Sep. 30, 2013
Guarantee obligations
Loss Contingency, Loss in Period	$0
Residual value guarantees
Guarantee obligations
Maximum potential amount of guarantees	27.1
Carrying value of guarantees	$1.10

Commitments_and_Contingencies_1

Commitments and Contingencies (Details 2) (USD $)	Sep. 30, 2013
In Millions, unless otherwise specified
Commitments and Contingencies Disclosure [Abstract]
Purchase commitment payable in 2013	$182.20

Subsequent_Events_Details

Subsequent Events (Details) (Subsequent Event [Member], USD $)	Oct. 22, 2013
Subsequent Event [Member]
Subsequent Event [Line Items]
Dividend approved and declared (in dollars per share)	$0.70