Textainer Group Holdings Limited (TGH+A) 6-K 28 Nov 23 Current report (foreign) Financial data

Document and Entity Information

Document and Entity Information	9 Months Ended
	Sep. 30, 2023
Cover [Abstract]
Document Type	6-K
Amendment Flag	false
Document Period End Date	Sep. 30, 2023
Entity Registrant Name	Textainer Group Holdings Limited
Entity Central Index Key	0001413159
Current Fiscal Year End Date	--12-31
Entity File Number	001-33725
Entity Address, Address Line One	Century House
Entity Address, Address Line Two	16 Par-La-Ville Road
Entity Address, City or Town	Hamilton
Entity Address, Postal Zip Code	HM 08
Entity Address, Country	BM

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Unaudited) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Current assets:
Cash and cash equivalents	$ 140,999	$ 164,818
Marketable securities		1,411
Accounts receivable, net of allowance of $1,472 and $1,582, respectively	110,440	114,805
Net investment in finance leases, net of allowance of $187 and $252, respectively	132,824	130,913
Container leaseback financing receivable, net of allowance of $43 and $62, respectively	57,812	53,652
Trading containers	4,718	4,848
Containers held for sale	37,033	31,637
Prepaid expenses and other current assets	8,383	16,703
Total current assets	495,339	521,545
Restricted cash	90,033	102,591
Containers, net of accumulated depreciation of $2,136,834 and $2,029,667, respectively	4,071,629	4,365,124
Net investment in finance leases, net of allowance of $656 and $1,027, respectively	1,629,059	1,689,123
Container leaseback financing receivable, net of allowance of $7 and $52, respectively	820,076	770,980
Derivative instruments	177,251	149,244
Deferred taxes	1,161	1,135
Other assets	21,943	13,492
Total assets	7,306,491	7,613,234
Current liabilities:
Accounts payable and accrued expenses	24,383	24,160
Container contracts payable	1,522	6,648
Other liabilities	5,756	5,060
Due to container investors, net	13,918	16,132
Debt, net of unamortized costs of $7,430 and $7,938, respectively	389,570	377,898
Total current liabilities	435,149	429,898
Debt, net of unamortized costs of $20,505 and $26,946, respectively	4,788,501	5,127,021
Income tax payable	14,243	13,196
Deferred taxes	17,479	13,105
Other liabilities	30,388	33,725
Total liabilities	5,285,760	5,616,945
Shareholders' Equity:
Cumulative redeemable perpetual preferred shares, $0.01 par value, $25,000 liquidation preference per share. Authorized 10,000,000 shares; 12,000 shares issued and outstanding (equivalent to 12,000,000 depositary shares at $25.00 liquidation preference per depositary share)	300,000	300,000
Common shares, $0.01 par value. Authorized 140,000,000 shares; 60,119,816 shares issued and 40,399,893 shares outstanding at September 30, 2023; 59,943,282 shares issued and 43,634,655 shares outstanding at December 31, 2022	601	599
Treasury shares, at cost, 19,719,923 and 16,308,627 shares, respectively	(461,711)	(337,551)
Additional paid-in capital	452,262	442,154
Accumulated other comprehensive income	175,027	147,350
Retained earnings	1,554,552	1,443,737
Total shareholders’ equity	2,020,731	1,996,289
Total liabilities and shareholders' equity	7,306,491	7,613,234
Affliated Entity
Current assets:
Due from affiliates, net	$ 3,130	$ 2,758

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Unaudited) (Parenthetical) - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2023	Dec. 31, 2022
Statement of Financial Position [Abstract]
Accounts receivable, allowance	$ 1,472	$ 1,582
Net investment in finance leases, allowance current	187	252
Container leaseback financing receivable, allowance current	43	62
Containers, accumulated depreciation	2,136,834	2,029,667
Net investment in finance leases, allowance non current	656	1,027
Container leaseback financing receivable, allowance non current	7	52
Debt, net of unamortized costs current	20,505	26,946
Debt, net of unamortized costs non current	$ 7,430	$ 7,938
Preferred stock shares, par value	$ 0.01	$ 0.01
Preferred stock shares, liquidation preference per share	$ 25,000	$ 25,000
Preferred stock shares, Authorized	10,000,000	10,000,000
Preferred stock shares, issued	12,000	12,000
Preferred stock shares, outstanding	12,000	12,000
Depository shares issued	12,000,000	12,000,000
Depositary per share equivalent to liquidation preference per share	$ 25	$ 25
Common shares, par value	$ 0.01	$ 0.01
Common shares, Authorized	140,000,000	140,000,000
Common shares, issued	60,119,816	59,943,282
Common shares, outstanding	40,399,893	43,634,655
Treasury shares, at cost, shares	19,719,923	16,308,627

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations (Unaudited) - USD ($) shares in Thousands, $ in Thousands		3 Months Ended		9 Months Ended
		Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Revenues:
Total lease rental income		$ 192,497	$ 205,152	$ 579,561	$ 607,102
Management fees - non-leasing		520	710	1,974	1,915
Trading container margin		306	457	350	1,766
Gain on sale of owned fleet containers, net		5,197	22,788	22,448	61,914
Operating expenses:
Depreciation and amortization		73,686	73,238	216,051	218,688
General and administrative expense		14,628	11,739	40,499	36,451
Bad debt (recovery) expense, net		(198)	206	(603)	743
Container lessee default (recovery) expense, net		(1,108)	963	(1,057)	1,518
Total operating expenses		106,355	105,815	314,111	311,842
Income from operations		92,165	123,292	290,222	360,855
Other (expense) income:
Interest expense		(43,751)	(41,242)	(128,019)	(114,144)
Other, net	[1]	2,355	1,164	6,284	1,422
Net other expense		(41,396)	(40,078)	(121,735)	(112,722)
Income before income taxes		50,769	83,214	168,487	248,133
Income tax expense		(1,124)	(1,846)	(3,946)	(5,532)
Net income		49,645	81,368	164,541	242,601
Less: Dividends on preferred shares		4,968	4,968	14,906	14,906
Net income attributable to common shareholders		$ 44,677	$ 76,400	$ 149,635	$ 227,695
Net income attributable to common shareholders per share:
Basic		$ 1.09	$ 1.66	$ 3.56	$ 4.82
Diluted		$ 1.07	$ 1.64	$ 3.49	$ 4.73
Weighted average shares outstanding (in thousands):
Basic		40,886	45,896	41,980	47,252
Diluted		41,913	46,707	42,878	48,092
Operating Leases - Owned Fleet
Revenues:
Total lease rental income		$ 142,278	$ 153,540	$ 431,086	$ 457,622
Operating Leases - Managed Fleet
Revenues:
Total lease rental income		10,405	12,322	32,208	37,641
Finance leases and container leaseback financing receivable - owned fleet
Revenues:
Total lease rental income		39,814	39,290	116,267	111,839
Trading Containers
Revenues:
Revenue		4,324	5,791	13,139	18,801
Cost of trading containers sold		(4,018)	(5,334)	(12,789)	(17,035)
Gain on sale of owned fleet containers, net		5,197	22,788	22,448	61,914
Owned Fleet
Operating expenses:
Direct container expense - owned fleet		10,133	8,717	30,575	21,015
Managed Fleet
Operating expenses:
Distribution expense to managed fleet container investors		$ 9,214	$ 10,952	$ 28,646	$ 33,427
[1] Amounts for the period ended September 30, 2022 have been reclassified to conform with the 2023 presentation (see Note 2 (f) “Reclassifications and Changes in Presentation”).

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Comprehensive Income (Unaudited) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Income Statement [Abstract]
Net income	$ 49,645	$ 81,368	$ 164,541	$ 242,601
Other comprehensive income (loss), before tax:
Change in derivative instruments designated as cash flow hedges	50,220	54,227	82,459	143,327
Reclassification of realized gain on derivative instruments designated as cash flow hedges	(19,488)	(5,061)	(54,452)	(766)
Foreign currency translation adjustments	(70)	(219)	(57)	(455)
Comprehensive income, before tax	80,307	130,315	192,491	384,707
Income tax expense related to items of other comprehensive income	(300)	(486)	(273)	(1,408)
Comprehensive income, after tax	80,007	129,829	192,218	383,299
Less: Dividends on preferred shares	4,968	4,968	14,906	14,906
Comprehensive income attributable to common shareholders	$ 75,039	$ 124,861	$ 177,312	$ 368,393

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Shareholders' Equity (Unaudited) - USD ($) $ in Thousands	Total	Preferred shares	Common shares	Treasury shares	Additional Paid-in capital	Accumulated other comprehensive income	Retained earnings
Beginning Balances at Dec. 31, 2021	$ 1,781,254	$ 300,000	$ 595	$ (158,459)	$ 428,945	$ 9,750	$ 1,200,423
Beginning Balances (in shares) at Dec. 31, 2021		12,000	59,503,710	(10,671,855)
Restricted share units vested (in shares)			34,047
Exercise of share options	4,460		$ 2		4,458
Exercise of share options (in shares)			173,700
Purchase of treasury shares	$ (133,775)			$ (133,775)
Purchase of treasury shares (in shares)	(4,093,505)			(4,093,505)
Share-based compensation expense	$ 5,315				5,315
Preferred shares dividends declared	(14,906)						(14,906)
Dividends declared to common shareholders	(35,278)						(35,278)
Net income	242,601						242,601
Comprehensive income (loss):
Change in derivative instruments designated as cash flow hedges	143,327					143,327
Reclassification of realized gain on derivative instruments designated as cash flow hedges	(766)					(766)
Foreign currency translation adjustments	(455)					(455)
Income tax expense related to items of other comprehensive income	(1,408)					(1,408)
Total comprehensive income (loss)	140,698
Ending Balances at Sep. 30, 2022	1,990,369	$ 300,000	$ 597	$ 292,234	438,718	150,448	1,392,840
Ending Balances (in shares) at Sep. 30, 2022		12,000	59,711,457	(14,765,360)
Beginning Balances at Dec. 31, 2022	1,996,289	$ 300,000	$ 599	$ (337,551)	442,154	147,350	1,443,737
Beginning Balances (in shares) at Dec. 31, 2022		12,000	59,943,282	(16,308,627)
Restricted share units vested (in shares)			34,362
Exercise of share options	3,174		$ 2		3,172
Exercise of share options (in shares)			142,172
Purchase of treasury shares	$ (124,160)			$ (124,160)
Purchase of treasury shares (in shares)	(3,411,296)			(3,411,296)
Share-based compensation expense	$ 6,936				6,936
Preferred shares dividends declared	(14,906)						(14,906)
Dividends declared to common shareholders	(38,820)						(38,820)
Net income	164,541						164,541
Comprehensive income (loss):
Change in derivative instruments designated as cash flow hedges	82,459					82,459
Reclassification of realized gain on derivative instruments designated as cash flow hedges	(54,452)					(54,452)
Foreign currency translation adjustments	(57)					(57)
Income tax expense related to items of other comprehensive income	(273)					(273)
Total comprehensive income (loss)	27,677
Ending Balances at Sep. 30, 2023	$ 2,020,731	$ 300,000	$ 601	$ (461,711)	$ 452,262	$ 175,027	$ 1,554,552
Ending Balances (in shares) at Sep. 30, 2023		12,000	60,119,816	(19,719,923)

Condensed Consolidated Statem_4

Condensed Consolidated Statements Of Cash Flows (Unaudited) - USD ($) $ in Thousands		9 Months Ended
		Sep. 30, 2023	Sep. 30, 2022
Cash flows from operating activities:
Net income		$ 164,541	$ 242,601
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization		216,051	218,688
Bad debt (recovery) expense, net		(603)	743
Container (recovery) write-off from lessee default, net		(1,160)	1,910
Amortization of unamortized debt issuance costs and accretion of bond discounts		6,948	7,710
Gain on sale of owned fleet containers, net		(22,448)	(61,914)
Share-based compensation expense		6,936	5,315
Changes in operating assets and liabilities	[1]	106,931	122,598
Total adjustments		312,655	295,050
Net cash provided by operating activities		477,196	537,651
Cash flows from investing activities:
Purchase of containers		(71,512)	(382,590)
Payments on container leaseback financing receivable		(96,005)	(533,867)
Proceeds from sale of containers		118,322	143,849
Receipt of principal payments on container leaseback financing receivable		43,566	42,806
Other	[1]	27	(2,497)
Net cash used in investing activities		(5,602)	(732,299)
Cash flows from financing activities:
Proceeds from debt		119,000	989,650
Payments on debt		(452,796)	(640,063)
Payment of debt issuance costs			(4,326)
Principal repayments on container leaseback financing liability, net		(616)	(599)
Purchase of treasury shares		(124,160)	(133,775)
Issuance of common shares upon exercise of share options		3,174	4,460
Dividends paid on common shares		(37,610)	(35,278)
Dividends paid on preferred shares		(14,906)	(14,906)
Net cash (used in) provided by financing activities		(507,914)	165,163
Effect of exchange rate changes		(57)	(455)
Net change in cash, cash equivalents and restricted cash		(36,377)	(29,940)
Cash, cash equivalents and restricted cash, beginning of the year		267,409	282,572
Cash, cash equivalents and restricted cash, end of the period		231,032	252,632
Supplemental disclosures of cash flow information:
Interest paid		120,430	104,844
Income taxes paid		242	257
Receipt of payments on finance leases, net of income earned		103,145	143,317
Supplemental disclosures of noncash investing activities:
Decrease in accrued container purchases		5,126	134,447
Containers placed in finance leases		$ 43,003	$ 217,659
[1] Amounts for the period ended September 30, 2022 have been reclassified to conform with the 2023 presentation (see Note 2 (f) “Reclassifications and Changes in Presentation”).

Description of Business

Description of Business	9 Months Ended
	Sep. 30, 2023
Description of Business [Abstract]
Description of Business	(1) Description of Business Organization Textainer Group Holdings Limited (“TGH”) is incorporated in Bermuda. TGH is the holding company of a group of companies, consisting of TGH and its subsidiaries (collectively, the “Company”), involved in the purchase, management, leasing and resale of a fleet of marine cargo containers. The Company also manages and provides administrative support to the third-party owners’ (the “Container Investors”) container fleets. The Company conducts its business activities in three main segments: Container Ownership, Container Management and Container Resale (see Note 9 “Segment Information”). Merger Agreement with Typewriter Parent Ltd. On October 22, 2023, the Company entered into an Agreement and Plan of Merger (the “Merger Agreement”) with Typewriter Parent Ltd., an exempted company incorporated under the Companies Act (2023 Revision) (as amended) of the Cayman Islands (“Parent”) and Typewriter Merger Sub Ltd., an exempted company limited by shares incorporated under the laws of Bermuda and a subsidiary of Parent (“Merger Sub”). Parent and Merger Sub are entities affiliated with Stonepeak, an investment firm specializing in infrastructure and real assets. Under the terms and subject to the conditions set forth in the Merger Agreement, Merger Sub will merge with and into the Company (the “Merger”), with the Company as the surviving company (the “Surviving Company”). Pursuant to the terms of the Merger Agreement , 1. at the effective time of the proposed Merger (the “Effective Time”), each common share of the Company issued and outstanding immediately prior to the Effective Time (other than (A) common shares owned by the Company or any of its wholly owned subsidiaries, (B) common shares owned by Parent, Merger Sub or any of their wholly owned subsidiaries, (C) common shares contributed to Parent pursuant to any rollover agreement entered into by Parent and the rollover investors and (D) any dissenting common shares), will be canceled and automatically converted into the right to receive $ 50.00 per common share in cash (“Per Share Merger Consideration”), or, in the case of holders of shares on the Johannesburg Stock Exchange (“JSE”), the Rand equivalent of the Per Share Merger Consideration at the USD/Rand exchange rate, 2. at the Effective Time, each outstanding option to purchase common shares granted under the Company’s share plan immediately prior to the Effective Time (whether or not vested) (the “Company Option”) will automatically and without any required action on the part of the holder thereof, be cancelled and converted into the right to receive an amount in cash, without interest, equal to the product obtained by multiplying (x) the number of shares subject to such Company Option that is outstanding immediately prior to the Effective Time, by (y) the amount by which the Per Share Merger Consideration exceeds the per-share exercise price of the Company Option, less applicable Taxes required to be withheld with respect to such payment. For clarity, any Company Option that is issued and outstanding immediately prior to the Effective Time with a per-share exercise price that is greater than or equal to the Per Share Merger Consideration shall be cancelled at the Effective Time without payment or other consideration therefor, 3. at the Effective Time, each award of Company restricted stock units (“RSUs”) that is outstanding as of immediately prior to the Effective Time will be converted into the contingent right to receive an amount in cash, without interest, equal to the product obtained by multiplying (x) the number of Company RSUs subject to such award (with respect to any performance-based vesting requirements, assuming attainment of the maximum level of performance under the terms of the applicable award agreement) immediately prior to the Effective Time, by (y) the Per Share Merger Consideration plus any unpaid cash in respect of dividends equivalent rights accrued prior to the Effective Time with respect to such Company RSU (after giving effect to the maximum level of performance), less applicable Taxes required to be withheld with respect to such payment (the “Unvested Company RSU Consideration”). Subject to the RSU holder’s continued service with Parent and its Affiliates (including the Surviving Company and its Subsidiaries), the Unvested Company RSU Consideration will vest and become payable upon the earlier to occur of: (x) the satisfaction of the time-based vesting conditions (including any vesting acceleration provisions) that applied to the corresponding portion of the applicable unvested Company RSUs immediately prior to the Effective Time, and (y) the twelve month anniversary of the Effective Time (except that this clause (y) shall not apply with respect to RSUs granted after the date of the Merger Agreement, if any). The Unvested Company RSU Consideration will otherwise remain subject to the same terms and conditions that were applicable to the underlying Company RSUs immediately prior to the Effective Time, and 4. at the Effective Time, each Series A and Series B cumulative redeemable perpetual preference share issued and outstanding immediately prior to the Effective Time will (A) automatically convert into a preference share of the Surviving Company and will be entitled to the same dividend and all other preferences and privileges, voting rights, relative, participating, optional and other special rights, and qualifications, limitations and restrictions set forth in the respective certificate of designations and will remain following the Effective Time in full force and effect as an obligation of the Surviving Company and (B) be redeemed by the Surviving Company in accordance with the respective certificate of designations, and each holder thereof will receive an amount equal to the amount to which such holder is entitled in accordance with the respective certificate of designations. The proposed Merger is currently expected to close in the first quarter of 2024. However, the exact timing of completion of the proposed Merger cannot be predicted as the Merger is subject to the receipt of required regulatory approvals and other customary closing conditions, including approval by the Company’s shareholders. If the transaction is consummated, the Company will cease to be a publicly traded company and (i) the Company’s common shares will be delisted from the New York Stock Exchange (“NYSE”) and the JSE, and deregistered under the Exchange Act as promptly as practicable following Effective Time, but in any event no more than ten days thereafter, and (ii) the Company’s Series A and Series B cumulative redeemable perpetual preference shares will be delisted from the NYSE and deregistered under the Exchange Act within 120 days following the closing of the Merger until the redemption of such preference shares of the Surviving Company. The Company has suspended its share repurchase program and no share repurchases will be made during the pendency of the proposed Merger.

Basis of Presentation and Accou

Basis of Presentation and Accounting Policies	9 Months Ended
	Sep. 30, 2023
Accounting Policies [Abstract]
Basis of Presentation and Accounting Policies	(2) Basis of Presentation and Accounting Policies (a) Basis of Presentation and Consolidation Certain information and footnote disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) have been condensed or omitted. The accompanying unaudited condensed consolidated interim financial statements should be read in conjunction with the audited consolidated financial statements and notes thereto included in the Company’s Annual Report on Form 20-F for the fiscal year ended December 31, 2022 (“2022 Form 20-F”) filed with the Securities and Exchange Commission on February 14, 2023. The condensed consolidated financial statements of the Company include TGH and all of its wholly-owned subsidiaries. All intercompany accounts and balances have been eliminated in consolidation. The preparation of financial statements in conformity with U.S. GAAP requires the Company’s management to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenue and expenses, and disclosure of contingent assets and liabilities in the condensed consolidated financial statements. The Company’s management evaluates its estimates on an ongoing basis, including those related to container leasing equipment such as residual values and depreciable lives, containers held for sale, allowance for credit losses, income taxes and accruals. Actual results could differ from those estimates under different assumptions or conditions. In the opinion of management, the accompanying unaudited condensed consolidated financial statements contain all adjustments (consisting of only normal and recurring adjustments) necessary to present fairly the Company’s condensed consolidated balance sheet as of September 30, 2023, the Company’s condensed consolidated statements of operations and comprehensive income for the three and nine month periods ended September 30, 2023 and 2022, and the Company’s condensed consolidated statements of shareholders’ equity and cash flows for the nine month periods ended September 30, 2023 and 2022. These condensed consolidated financial statements are not necessarily indicative of the results of operations or cash flows that may be reported for the remainder of the fiscal year ending December 31, 2023. (b) Concentration of Credit Risk The Company’s customers are mainly international shipping lines, which transport goods on international trade routes. Once the containers are on-hire with a lessee, the Company does not track their location. The domicile of the lessee is not indicative of where the lessee is transporting the containers. The Company’s business risk in its geographic concentration lies with the creditworthiness of the lessees rather than the location of the containers or the domicile of the lessees. Total lease rental income, as reported in the condensed consolidated statements of operations, comprises revenue earned from leases on containers in the Company’s total fleet, including revenue earned from leases on containers in its managed fleet. Except for the lessees noted in the tables below, no other single lessee accounted for more than 10% of the Company’s total lease rental income for the three and nine months ended September 30, 2023 and 2022: Three Months Ended Nine Months Ended September 30, September 30, Total Lease Rental Income 2023 2022 2023 2022 Customer A 26.6 % 24.9 % 25.9 % 24.3 % Customer B 11.6 % 15.0 % 11.7 % 15.1 % Customer C 10.9 % 10.8 % 10.9 % 10.8 % Customer D 4.4 % 7.9 % 4.5 % 10.2 % Other financial instruments that are exposed to concentrations of credit risk are cash and cash equivalents, restricted cash balances, and derivatives (see Note 8 “Debt and Derivative Instruments” for further discussions). The Company maintains cash and cash equivalents and restricted cash accounts with various financial institutions, which often exceed Federal Deposit Insurance Corporation (FDIC) or foreign equivalents insurance limits. The Company has not experienced any losses in such accounts with these financial institutions. The Company does not anticipate any non-performance by the financial institutions or derivative counterparties as they are highly rated financial institutions. (c) Container Leasing Equipment Capitalized costs for container leasing equipment include the container cost payable to the manufacturer, inspection, delivery, and the associated transportation costs incurred in moving the Company’s containers from the manufacturer to the containers’ first destined location. Container leasing equipment are depreciated using the straight-line method over their estimated useful lives to an estimated residual value. Used containers are depreciated based upon their remaining useful lives at the date of acquisition to an estimated residual value. Repair and maintenance costs that do not extend the useful lives of the container leasing equipment are recognized in “direct container expense - owned fleet” in the condensed consolidated statements of operations at the time the costs are incurred. Impairment of Container Leasing Equipment The Company reviews its container leasing equipment for impairment whenever events or circumstances indicate that the carrying amount of such assets may not be recoverable. The Company compares the carrying value of the container leasing equipment to the expected future undiscounted cash flows for the purpose of assessing the recoverability of the recorded amounts. If the carrying value exceeds expected future undiscounted cash flows, the assets are reduced to fair value. There was no such impairment of the Company’s container leasing equipment for the three and nine months ended September 30, 2023 and 2022. Write-Off (Recoveries) of Container Leasing Equipment due to Lessees in Default The Company evaluates the recoverability of the recorded amounts of container leasing equipment that are unlikely to be recovered from lessees in default. For the three and nine months ended September 30, 2023, the Company recorded gains of $ 1,160 associated with recoveries on containers previously estimated as lost with lessees in default. For the three and nine months ended September 30, 2022, the Company recorded impairment charges of $ 867 and $ 1,935 , respectively, to write-off containers that were unlikely to be recovered from lessees in default, offset by gains of $ 0 and $ 827 , respectively, associated with recoveries on containers previously estimated as lost with lessees in default. These amounts are included in “container lessee default (recovery) expense, net” in the condensed consolidated statements of operations. (d) Containers Held for Sale Containers identified as held for sale are valued at the lower of carrying value or fair value, less costs to sell. The Company records impairment to write-down the value of containers held for sale to their estimated fair value, less cost to sell, under observable (Level 2) market inputs. The fair value is estimated based on recent gross sales proceeds for sales of similar types of containers in the locations in which the containers are stored. When containers are sold or otherwise retired, the cost and related accumulated depreciation are removed, and any resulting gain or loss is recognized. Subsequent additions or reductions to the fair values of these written down assets are recorded as adjustments to the carrying value of the containers held for sale. The carrying value of containers held for sale that have been impaired and written down to their estimated fair value less cost to sell was $ 12,355 and $ 3,556 as of September 30, 2023 and December 31, 2022, respectively. Any subsequent increase in fair value less costs to sell is recognized as a reversal of container impairment but not in excess of the cumulative loss previously recognized. During the three and nine months ended September 30, 2023, the Company recorded container impairment charges of $ 3,190 and $ 5,001 , respectively, and during the three and nine months ended September 30, 2022, the Company recorded container impairment charges of $ 180 and $ 783 , respectively, to write down the value of containers held for sale to their estimated fair value less cost to sell, net of reversals of previously recorded impairments on containers held for sale due to rising used container prices. The impairment charges are included in “depreciation and amortization” in the condensed consolidated statements of operations. (e) Fair Value Measurements As of September 30, 2023 and December 31, 2022, the carrying amounts of cash and cash equivalents, restricted cash, accounts receivable and payable, due from affiliates, net, container contracts payable and due to container investors, net, approximate their fair values due to the short-term nature of these financial instruments. See Note 2 (d) “Containers Held for Sale”, Note 5 “Leases” and Note 8 “Debt and Derivative Instruments” for further discussions on fair value of containers held for sale, fair value of net investment in finance leases and container leaseback financing receivable, and fair value of derivative instruments, respectively. As of September 30, 2023, the Company did no t hold any investments in marketable equity securities. As of December 31, 2022, the Company held investments in marketable equity securities with readily determinable fair values of $ 1,411 . The fair value of investments in marketable equity securities was measured at each balance sheet date based on quoted market prices (Level 1), with changes in fair value recorded in earnings as “other, net” in the condensed consolidated statements of operations. (f) Reclassifications and Changes in Presentation Certain prior period amounts for the three and nine months ended September 30, 2022 have been reclassified to conform to the current period presentation. The reclassifications as discussed below have no effect on previously reported net income and net change in cash, cash equivalents, and restricted cash. • The Company reclassified the amounts out of the separate line items “realized gain (loss) on financial instruments, net” and “unrealized gain (loss) on financial instruments, net” to be included within the line item “other, net” and “changes in operating assets and liabilities” in the condensed consolidated statements of operations and in the condensed consolidated statements of cash flows, respectively. • The Company reclassified the fixed asset purchase amounts out of the previously reported line item “purchase of containers and fixed assets” to be included to the separate line item “other” in the condensed consolidated statements of cash flows. (g) Recently Issued Accounting Standards In March 2022, the FASB issued Accounting Standards Update No. 2022-02, Financial Instruments – Credit Losses (Topic 326), Troubled Debt Restructurings and Vintage Disclosures ( “ ASU 2022-02”). The amendment eliminates the accounting guidance for troubled debt restructurings by creditors in Topic 310 - Receivables and amends the disclosure requirements for restructurings involving borrowers that are experiencing financial difficulty under ASU 2016-13 , Financial Instruments – Credit Losses (Topic 326), Measurement of Credit Losses on Financial Instruments , which was adopted by the Company on the effective date of January 1, 2020. ASU 2022-02 requires disclosure of current period gross write-offs by year of origination for financing receivables and net investment in finance leases and must be included in the vintage disclosure of the amortized cost basis of financing receivables and net investment in finance leases by credit quality indicator and by year of origination as required by ASU 2016-13. The Company adopted ASU 2022-02 effective January 1, 2023 on a prospective basis and the adoption of this guidance did not have an impact on the Company’s condensed consolidated financial statements. In October 2023, the FASB issued Accounting Standards Update No. 2023-06, Disclosure Improvements: Codification Amendments in Response to the SEC’s Disclosure Update and Simplification Initiative (“ASU 2023-06” ) , which incorporates updates to the FASB Accounting Standards Codification to align with certain SEC disclosure requirements. The ASU was issued in response to the SEC Final Rule Release No. 33-10532, Disclosure Update and Simplification , that was issued in August 2018 to simplify, improve, and eliminate disclosure requirements that were redundant, overlapping, or superseded. The Company will adopt ASU 2023-06 prospectively on the effective date for each amendment which will be effective upon SEC’s removal of that related disclosure or presentation requirement from Regulation S-X or Regulation S-K by June 30, 2027. The new ASU will not affect the Company’s results of operations, cash flows or financial position and the Company does not expect the adoption to have a material impact on the disclosures of the consolidated financial statements. There were no changes to the Company’s significant accounting policies during the three and nine months ended September 30, 2023. For further discussion on the Company’s accounting policies, please refer to Note 1 “Nature of Business and Summary of Significant Accounting Polices” in Item 18, “Financial Statements” in our 2022 Form 20-F.

Managed Container Fleet

Managed Container Fleet	9 Months Ended
	Sep. 30, 2023
Revenue from Contract with Customer [Abstract]
Managed Container Fleet	(3) Managed Container Fleet Under the Company’s management agreements for managed container fleet, the Company is responsible for providing the leasing services to the customers and responsible for directing and integrating third-party vendors to fulfill its performance obligations. Therefore, it was determined that the management agreements with these Container Investors are deemed to convey to the Company the right to control the use of the managed containers and are therefore accounted for as a lease. Lease rental income and expenses from the managed fleet owned by Container Investors are reported on a gross basis. Lease rental income from managed fleet represents rental charges billed to the ultimate lessees for the managed fleet, including charges for handling fees, drop-off charges, pick-up charges, and charges for a damage protection plan that is set forth in the leases. Management fees from non-leasing services are earned for acquiring new managed containers and sales commissions are earned from sales of the managed containers on behalf of the Container Investors. Distribution expense to managed fleet container investors represents direct container expenses of the managed containers and the amounts distributed to the Container Investors, reduced by associated lease management fees earned and retained by the Company. The Company is deemed to own certain of the managed containers purchased by the Company on behalf of Container Investors, notwithstanding the contractual management relationship which the Company has with the Container Investors. Accordingly, such managed containers are included in “containers, net” in the Company’s condensed consolidated balance sheets as of September 30, 2023 and December 31, 2022. The purchase consideration paid by the Container Investors for such containers is reported as a deemed financial liability of the Company. As of September 30, 2023 and December 31, 2022, the Company’s container leaseback financial liability to the Container Investors amounted to $ 14,212 , and $ 14,841 , respectively, which were reported as “other liabilities” in the condensed consolidated balance sheets. The Company’s container leasing equipment includes such managed containers in the condensed consolidated balance sheets as of September 30, 2023 and December 31, 2022, which consisted of the following: September 30, 2023 December 31, 2022 Cost Accumulated Net Book Cost Accumulated Net Book Containers - owned fleet $ 6,192,062 $ ( 2,134,183 ) $ 4,057,879 $ 6,378,374 $ ( 2,027,743 ) $ 4,350,631 Containers - managed fleet 16,401 ( 2,651 ) 13,750 16,417 ( 1,924 ) 14,493 Total containers $ 6,208,463 $ ( 2,136,834 ) $ 4,071,629 $ 6,394,791 $ ( 2,029,667 ) $ 4,365,124 Income from the managed fleet, including management fees earned from acquisition fees and sales commissions during the three and nine months ended September 30, 2023 and 2022 were as follows: Three Months Ended September 30, Nine Months Ended September 30, 2023 2022 2023 2022 Lease rental income - managed fleet $ 10,405 $ 12,322 $ 32,208 $ 37,641 Less: distribution expense to managed fleet container ( 9,214 ) ( 10,952 ) ( 28,646 ) ( 33,427 ) Less: depreciation and interest expense on managed ( 450 ) ( 462 ) ( 1,340 ) ( 1,373 ) 741 908 2,222 2,841 Management fees from non-leasing services 520 710 1,974 1,915 Total $ 1,261 $ 1,618 $ 4,196 $ 4,756 The following table provides a reconciliation of the balance sheet accounts from the managed fleet to the total amount as of September 30, 2023 and December 31, 2022 in the condensed consolidated balance sheets (also, see Note 4 “Transactions with Affiliates and Container Investors”): September 30, 2023 December 31, 2022 Accounts receivable, net - owned fleet $ 103,645 $ 107,457 Accounts receivable, net - managed fleet 6,795 7,348 Total accounts receivable, net $ 110,440 $ 114,805 Prepaid expenses and other current assets - owned fleet $ 7,969 $ 16,614 Prepaid expenses and other current assets - managed fleet 414 89 Total prepaid expenses and other current assets $ 8,383 $ 16,703 Accounts payable and accrued expenses - owned fleet $ 23,536 $ 22,868 Accounts payable and accrued expenses - managed fleet 847 1,292 Total accounts payable and accrued expenses $ 24,383 $ 24,160 Container contracts payable - owned fleet $ 1,522 $ 6,648 Total container contracts payable $ 1,522 $ 6,648 For further discussion on the Company’s managed container fleet, please refer to Item 18, “Financial Statements – Note 2” in our 2022 Form 20-F.

Transactions with Affiliates an

Transactions with Affiliates and Container Investors	9 Months Ended
	Sep. 30, 2023
Related Party Transactions [Abstract]
Transactions with Affiliates and Container Investors	(4) Transactions with Affiliates and Container Investors Due from affiliates, net of $ 3,130 and $ 2,758 , as of September 30, 2023 and December 31, 2022, respectively, represents lease rentals on tank containers collected on behalf of and payable to the Company from the Company’s tank container manager, net of direct container expenses and management fees. See Note 3 “Managed Fleet” for further detail on management fees earned from the Company’s managed fleet. There were no due to affiliated Container Investors as of September 30, 2023 and December 31, 2022. The following table provides a summary of due to container investors, net at September 30, 2023 and December 31, 2022: September 30, 2023 December 31, 2022 Accounts receivable, net - managed fleet $ 6,795 $ 7,348 Prepaid expenses and other current assets - managed fleet 414 89 Accounts payable and accrued expenses - managed fleet ( 847 ) ( 1,292 ) 6,362 6,145 Distributions due to container investors on lease rentals collected, net of 7,556 9,987 Due to container investors, net $ 13,918 $ 16,132

Leases

Leases	9 Months Ended
	Sep. 30, 2023
Leases [Abstract]
Leases	(5) Leases (a) Lessor The Company’s lease rental income for the three and nine months ended September 30, 2023 and 2022 were as follows: Three Months Ended September 30, 2023 2022 Owned Managed Total Owned Managed Total Lease rental income - operating leases $ 139,373 $ 10,043 $ 149,416 $ 149,729 $ 11,801 $ 161,530 Interest income on net investment in finance leases 26,295 — 26,295 26,842 — 26,842 Interest income on container leaseback financing 13,238 — 13,238 12,216 — 12,216 Variable lease revenue 3,186 362 3,548 4,043 521 4,564 Total lease rental income $ 182,092 $ 10,405 $ 192,497 $ 192,830 $ 12,322 $ 205,152 Nine Months Ended September 30, 2023 2022 Owned Managed Total Owned Managed Total Lease rental income - operating leases $ 420,501 $ 30,574 $ 451,075 $ 448,053 $ 36,502 $ 484,555 Interest income on net investment in finance leases 78,807 — 78,807 81,402 — 81,402 Interest income on container leaseback financing 36,903 — 36,903 29,968 — 29,968 Variable lease revenue 11,142 1,634 12,776 10,038 1,139 11,177 Total lease rental income $ 547,353 $ 32,208 $ 579,561 $ 569,461 $ 37,641 $ 607,102 Variable lease revenue includes other charges set forth in the leases, such as handling fees, pick-up and drop-off charges and charges for damage protection plan. For finance leases, the net selling gain (loss) recognized at lease commencement, representing the difference between the estimated fair value of containers placed on these leases and their net book value, in the amount of $( 6 ) and $ 168 for the three months ended September 30, 2023 and 2022, respectively, and $( 131 ) and $ 1,340 for the nine months ended September 30, 2023 and 2022, respectively, were included in “gain on sale of owned fleet containers, net” in the condensed consolidated statements of operations. Net Investment in Finance Leases The following table represents the components of the net investment in finance leases as of September 30, 2023 and December 31, 2022: September 30, 2023 December 31, 2022 Future minimum lease payments receivable $ 2,380,340 $ 2,487,365 Residual value of containers 46,960 47,686 Less: unearned income ( 664,574 ) ( 713,736 ) Net investment in finance leases (1) 1,762,726 1,821,315 Less: Allowance for credit losses ( 843 ) ( 1,279 ) Net investment in finance leases, net (2) $ 1,761,883 $ 1,820,036 Amounts due within one year 132,824 130,913 Amounts due beyond one year 1,629,059 1,689,123 Net investment in finance leases, net $ 1,761,883 $ 1,820,036 (1) One major customer represented 82.2 % and 80.8 % of the Company’s finance leases portfolio as of September 30, 2023 and December 31, 2022, respectively. No other customer represented more than 10% of the Company’s finance leases portfolio in each of those periods. (2) As of September 30, 2023 and December 31, 2022, the fair value of net investment in finance leases (including the short-term balance) was approximately $ 1,533,656 and $ 1,659,155 , respectively, and was measured using Level 2 inputs. Container Leaseback Financing Receivable The Company’s container leaseback financing receivable pertains to containers purchased that were leased back to the seller-lessees through a sales-type leaseback arrangement that are accounted for as financing transactions. The following table represents the components of the container leaseback financing receivable as of September 30, 2023 and December 31, 2022: September 30, 2023 December 31, 2022 Future minimum payments receivable $ 1,266,662 $ 1,179,515 Less: unearned income ( 388,724 ) ( 354,769 ) Container leaseback financing receivable (1) 877,938 824,746 Less: Allowance for credit losses ( 50 ) ( 114 ) Container leaseback financing receivable, net (2) $ 877,888 $ 824,632 Amounts due within one year 57,812 53,652 Amounts due beyond one year 820,076 770,980 Container leaseback financing receivable, net $ 877,888 $ 824,632 (1) One major customer represented 98.5 % and 97.4 % of the Company’s container leaseback financing receivable portfolio as of September 30, 2023 and December 31, 2022, respectively. (2) As of September 30, 2023 and December 31, 2022, the fair value of container leaseback financing receivable (including the short-term balance) was approximately $ 743,676 and $ 732,951 , respectively, and was measured using Level 2 inputs. (b) Lessee Right-of-use (“ROU”) lease assets and lease liabilities are recognized for the Company’s office space leases at the commencement date based on the present value of lease payments over the lease term. As of September 30, 2023 and December 31, 2022, ROU operating lease assets amounted to $ 5,999 and $ 7,299 , respectively, which were reported in “other assets” in the condensed consolidated balance sheets. As of September 30, 2023 and December 31, 2022, total lease liabilities amounted to $ 7,572 and $ 9,112 , respectively, which were reported in “other liabilities” in the condensed consolidated balance sheets. Operating lease expense amounted to $ 590 and $ 576 for the three months ended September 30, 2023 and 2022, respectively, and $ 1,764 and $ 1,726 for the nine months ended September 30, 2023 and 2022, respectively.

Allowance for Credit Losses

Allowance for Credit Losses	9 Months Ended
	Sep. 30, 2023
Allowance for Credit Loss [Abstract]
Allowance for Credit Losses	(6) Allowance for Credit Losses The Company’s allowance for credit losses is estimated based on historical losses from lessee defaults, current economic conditions, reasonable and supportable forecasts and ongoing review of the credit worthiness, but not limited to, each lessee’s payment history, lessee credit ratings, management’s current assessment of each lessee’s financial condition and the recoverability. Accounts Receivable The allowance for credit losses included in accounts receivable, net, amounted to $ 1,472 and $ 1,582 as of September 30, 2023 and December 31, 2022, respectively. As of September 30, 2023 and December 31, 2022, the allowance for credit losses related to the billed amounts under the container leaseback financing receivable and finance leases were included in accounts receivable, net, amounted to $ 563 and $ 586 , respectively. Net Investment in Finance Leases and Container Leaseback Financing Receivable The allowance for credit losses related to unbilled amounts under finance leases and included in net investment in finance leases, net, amounted to $ 843 and $ 1,279 as of September 30, 2023 and December 31, 2022, respectively. The allowance for credit losses related to unbilled amounts under the financing arrangements and included in container leaseback financing receivable, net, amounted to $ 50 and $ 114 as of September 30, 2023 and December 31, 2022, respectively. As of September 30, 2023, the Company’s net investment in finance leases and container leaseback financing receivable are primarily comprised of the largest shipping lines under “Tier 1” risk rating which represented 89.5 % and 98.5 %, respectively, of the Company’s portfolio (For further discussion on the description of the Company’s internal risk ratings, please refer to Item 18, “Financial Statements – Note 1” in our 2022 Form 20-F). The following table presents the net investment in finance leases and container leaseback financing receivable by internal credit rating category and year of origination as of September 30, 2023: Nine Months Ended September 30, 2023 2022 2021 2020 2019 Prior Total Tier 1 $ 38,945 $ 92,916 $ 776,526 $ 541,788 $ 92,750 $ 34,748 $ 1,577,673 Tier 2 572 23,367 69,890 29,667 26,509 13,907 163,912 Tier 3 1,948 7,367 5,417 1,440 4,899 70 21,141 Net investment in finance $ 41,465 $ 123,650 $ 851,833 $ 572,895 $ 124,158 $ 48,725 $ 1,762,726 Tier 1 $ 93,581 $ 488,238 $ 11,000 $ 96,100 $ 176,127 $ — $ 865,046 Tier 2 — — 3,079 — 9,813 — 12,892 Container leaseback financing $ 93,581 $ 488,238 $ 14,079 $ 96,100 $ 185,940 $ — $ 877,938

Income Taxes

Income Taxes	9 Months Ended
	Sep. 30, 2023
Income Tax Disclosure [Abstract]
Income Taxes	(7) Income Taxes The Company’s effective income tax rates were 2.2 % for both the three months ended September 30, 2023 and 2022, respectively, and 2.3 % and 2.2 % for the nine months ended September 30, 2023 and 2022, respectively. The Company has computed its provision for income taxes based on the estimated annual effective income tax rate and is affected by recurring items, such as tax rates in foreign jurisdictions and the relative amounts of income the Company earns in those jurisdictions. It is also affected by the changes in discrete items that may occur in any given period.

Debt and Derivative Instruments

Debt and Derivative Instruments	9 Months Ended
	Sep. 30, 2023
Debt Disclosure [Abstract]
Debt and Derivative Instruments	(8) Debt and Derivative Instruments Debt The following represents the Company’s debt obligations as of September 30, 2023 and December 31, 2022: Secured Debt Facilities, Revolving Credit Facilities, Term Loan and Bonds Payable September 30, 2023 December 31, 2022 Outstanding Average Interest Outstanding Average Interest Final Maturity TL Revolving Credit Facility $ 1,322,858 6.78 % $ 1,367,858 5.78 % August 2027 TL 2019 Term Loan 118,567 3.50 % 127,293 3.50 % December 2026 TL 2021-1 Term loan 56,101 2.65 % 60,314 2.65 % February 2028 TL 2021-2 Term Loan 181,098 2.90 % 192,202 2.90 % October 2028 TMCL II Secured Debt Facility (1) 1,180,491 7.00 % 1,239,440 6.00 % November 2028 TMCL VII 2020-1 Bonds 294,076 3.06 % 332,413 3.06 % August 2045 TMCL VII 2020-2 Bonds 431,865 2.26 % 476,279 2.26 % September 2045 TMCL VII 2020-3 Bonds 160,667 2.15 % 175,750 2.15 % September 2045 TMCL VII 2021-1 Bonds 434,983 1.72 % 467,881 1.72 % February 2046 TMCL VII 2021-2 Bonds 525,301 2.27 % 564,373 2.27 % April 2046 TMCL VII 2021-3 Bonds 500,000 1.98 % 536,000 1.98 % August 2046 Total debt obligations (2) $ 5,206,007 $ 5,539,803 Unamortized debt premiums and discounts $ ( 27,935 ) $ ( 34,884 ) Debt, net of unamortized costs $ 5,178,071 $ 5,504,919 Debt, net of unamortized costs - current $ 389,570 $ 377,898 Debt, net of unamortized costs - non-current $ 4,788,501 $ 5,127,021 (1) Final maturity of the TMCL II Secured Debt Facility is based on the assumption that the facility will not be extended on its associated conversion date. (2) The fair value of total debt based on the borrowing rates available to the Company was approximately $ 4,770,107 and $ 5,107,874 at September 30, 2023 and December 31, 2022, respectively, and was measured using Level 2 inputs. The Company hedges the risks associated with fluctuations in interest rates on a portion of its floating-rate debt by entering into interest rate swap agreements that convert a portion of its floating-rate debt to a fixed rate basis, thereby reducing the impact of interest rate changes on future interest expense. The following table summarizes the Company’s outstanding fixed-rate and floating-rate debt as of September 30, 2023: Balance Outstanding Contractual Weighted Average Interest Rate Excluding impact of derivative instruments: Fixed-rate debt $ 2,702,658 2.31 % Floating-rate debt 2,503,349 6.88 % Including impact of derivative instruments: Fixed-rate debt 2,702,658 2.31 % Hedged floating-rate debt 2,088,369 3.28 % Total fixed and hedged debt 4,791,027 2.73 % Unhedged floating-rate debt 414,980 6.82 % Total $ 5,206,007 3.06 % The Company’s debt facilities are secured by specific pools of containers and related assets owned by the Company. The Company’s debt agreements contain various restrictive financial and other covenants related to leverage, interest coverage, fixed charge coverage, container sales proceeds ratio, net income and debt levels and consolidated tangible net worth, including limitations on certain liens, indebtedness and investments. TL’s revolving credit facility and term loans also contain limitations on loan and dividend payments to TGH. The Company was in full compliance with these restrictive covenants at September 30, 2023. As of September 30, 2023, the Company’s total commitment and outstanding borrowing, excluding unamortized debt costs, for the debt facilities amounted to $ 6,102,658 and $ 5,206,007 , respectively. The Company’s debt facilities also contain borrowing base minimums that limit borrowing capacity. As of September 30, 2023, the borrowing availability under the Company’s debt facilities was $ 375,929 , assuming no additional contributions of assets. For further discussion on the Company’s debt instruments, please refer to Item 18, “Financial Statements – Note 7” in our 2022 Form 20-F. Derivative Instruments and Hedging Activities The Company has entered into several derivative agreements with several banks to reduce the impact of changes in interest rates associated with its variable rate debt. Interest rate swap agreements involve payments by the Company to counterparties at fixed rate interest payments in return for receipts based on floating-rate amounts. The Company has also utilized forward starting interest rate swap agreements to reduce the impact of interest rate changes on anticipated future debt issuances. The Company has also utilized interest rate cap agreements, which place a ceiling on the Company’s exposure to rising interest rates, to manage interest rate risk exposure. The Company has utilized the income approach to measure at each balance sheet date the fair value of its derivative instruments on a recurring basis using observable (Level 2) market inputs. The Company presents the fair value of derivative instruments, which are inclusive of counterparty risk, on a gross basis as separate line items on the condensed consolidated balance sheets. The Company monitors its counterparties’ credit ratings on an on-going basis and does not anticipate any non-performance by the counterparties as they are highly rated financial institutions. As of September 30, 2023 and December 31, 2022, all of the Company’s interest rate swap agreements were designated for hedge accounting purposes. The change in fair value of derivative instruments that are designated as cash flow hedge for accounting purposes are initially reported in the condensed consolidated balance sheets as a component of “accumulated other comprehensive income” and reclassified to earnings in “interest expense, net” when realized. The following table summarizes the Company’s derivative instruments as of September 30, 2023: Notional Derivative instruments amount Interest rate swap contracts with several banks that were indexed to daily SOFR, with fixed rates between 0.12 % and 3.84 % per annum, amortizing notional amounts, with termination dates through December 31, 2033 (1) $ 2,088,369 (1) Excludes the Company’s interest rate swap contract with an effective date in a future period (“forward starting interest rate swap”). In February 2022, the Company entered into a forward starting interest rate swap with a bank that was indexed to daily SOFR and with an initial notional amount of $ 100,000 . The Company pays a fixed rate at 1.96 % and with an effective date of February 28, 2024 and termination date of February 28 , 2034 . The following table summarizes the fair value of derivative instruments on the consolidated balance sheet as of September 30, 2023: Fair Values of Derivative Instruments Assets (liabilities), net Balance at December 31, 2022 $ 149,244 Change in derivative instruments designated as cash flow hedges 82,459 Reclassification of realized gain on derivative instruments ( 54,452 ) Balance at September 30, 2023 $ 177,251 Over the next twelve months, the Company expects to reclassify an estimated net gain of $ 70,942 related to the designated interest rate swap agreements from “accumulated other comprehensive income (loss)” in the condensed consolidated statements of shareholders’ equity to “interest expense” in the condensed consolidated statements of operations. The following table summarizes the pre-tax impact of derivative instruments on the condensed consolidated statements of operations during the three and nine months ended September 30, 2023 and 2022: Three Months Ended September 30, Nine Months Ended September 30, Derivative instruments Financial Statement Line Item 2023 2022 2023 2022 Designated Other comprehensive income $ 50,220 $ 54,227 $ 82,459 $ 143,327 Designated Interest income $ 19,488 $ 5,061 $ 54,452 $ 766 For further discussion on the Company’s derivative instruments, please refer to Item 18, “Financial Statements – Note 8” in our 2022 Form 20-F.

Segment Information

Segment Information	9 Months Ended
	Sep. 30, 2023
Segment Reporting [Abstract]
Segment Information	(9) Segment Information The Company operates in three reportable segments: Container Ownership, Container Management and Container Resale. The following tables show segment information for the three and nine months ended September 30, 2023 and 2022: Container Container Container Three Months Ended September 30, 2023 Ownership Management Resale Other Eliminations Totals Total lease rental income $ 181,145 $ 10,600 $ — $ — $ 752 $ 192,497 Management fees - non-leasing from $ — $ 46 $ 474 $ — $ — $ 520 Inter-segment management fees $ — $ 14,788 $ 2,600 $ — $ ( 17,388 ) $ — Trading container margin $ — $ — $ 306 $ — $ — $ 306 Gain on sale of owned fleet containers, net $ 5,197 $ — $ — $ — $ — $ 5,197 Depreciation $ 75,158 $ 372 $ — $ — $ ( 1,844 ) $ 73,686 Container lessee default recovery, net $ 1,108 $ — $ — $ — $ — $ 1,108 Interest expense $ 43,545 $ 206 $ — $ — $ — $ 43,751 Segment income (loss) before income taxes $ 43,137 $ 5,259 $ 2,448 $ ( 2,589 ) $ 2,514 $ 50,769 Income tax (expense) benefit $ ( 1,477 ) $ 353 $ — $ — $ — $ ( 1,124 ) Total assets $ 7,261,279 $ 178,118 $ 6,185 $ 4,779 $ ( 143,870 ) $ 7,306,491 Purchase of containers $ 27,948 $ — $ — $ — $ — $ 27,948 Payments on container leaseback financing $ — $ — $ — $ — $ — $ — Container Container Container Nine Months Ended September 30, 2023 Ownership Management Resale Other Eliminations Totals Total lease rental income $ 544,521 $ 32,832 $ — $ — $ 2,208 $ 579,561 Management fees - non-leasing from $ — $ 143 $ 1,831 $ — $ — $ 1,974 Inter-segment management fees $ — $ 45,708 $ 9,838 $ — $ ( 55,546 ) $ — Trading container margin $ — $ — $ 350 $ — $ — $ 350 Gain on sale of owned fleet containers, net $ 22,448 $ — $ — $ — $ — $ 22,448 Depreciation $ 220,460 $ 1,172 $ — $ — $ ( 5,581 ) $ 216,051 Container lessee default recovery, net $ 1,057 $ — $ — $ — $ — $ 1,057 Interest expense $ 127,410 $ 609 $ — $ — $ — $ 128,019 Segment income (loss) before income taxes $ 140,846 $ 18,297 $ 9,600 $ ( 6,411 ) $ 6,155 $ 168,487 Income tax (expense) benefit $ ( 5,148 ) $ 1,202 $ — $ — $ — $ ( 3,946 ) Total assets $ 7,261,279 $ 178,118 $ 6,185 $ 4,779 $ ( 143,870 ) $ 7,306,491 Purchase of containers $ 66,386 $ - $ — $ — $ — $ 66,386 Payments on container leaseback financing $ 96,005 $ — $ — $ — $ — $ 96,005 Container Container Container Three Months Ended September 30, 2022 Ownership Management Resale Other Eliminations Totals Total lease rental income $ 191,926 $ 12,503 $ — $ — $ 723 $ 205,152 Management fees - non-leasing from external $ — $ 53 $ 657 $ — $ — $ 710 Inter-segment management fees $ — $ 16,875 $ 4,576 $ — $ ( 21,451 ) $ — Trading container margin $ — $ — $ 457 $ — $ — $ 457 Gain on sale of owned fleet containers, net $ 22,788 $ — $ — $ — $ — $ 22,788 Depreciation and amortization $ 74,711 $ 432 $ — $ — $ ( 1,905 ) $ 73,238 Container lessee default expense, net $ 963 $ — $ — $ — $ — $ 963 Interest expense $ 41,027 $ 215 $ — $ — $ — $ 41,242 Unrealized loss on financial instruments, net $ — $ 204 $ — $ — $ — $ 204 Segment income (loss) before income tax $ 68,899 $ 8,357 $ 4,873 $ ( 1,164 ) $ 2,249 $ 83,214 Income tax (expense) benefit $ ( 1,930 ) $ 84 $ — $ — $ — $ ( 1,846 ) Total assets $ 7,731,085 $ 171,010 $ 10,364 $ 10,553 $ ( 125,977 ) $ 7,797,035 Purchase of containers and fixed assets $ 55,191 $ 378 $ — $ — $ — $ 55,569 Payments on container leaseback financing $ — $ — $ — $ — $ — $ — Container Container Container Nine Months Ended September 30, 2022 Ownership Management Resale Other Eliminations Totals Total lease rental income $ 566,994 $ 38,105 $ — $ — $ 2,003 $ 607,102 Management fees - non-leasing from external $ — $ 172 $ 1,743 $ — $ — $ 1,915 Inter-segment management fees $ — $ 59,932 $ 10,586 $ — $ ( 70,518 ) $ - Trading container margin $ — $ — $ 1,766 $ — $ — $ 1,766 Gain on sale of owned fleet containers, net $ 61,718 $ — $ — $ — $ 196 $ 61,914 Depreciation and amortization $ 223,173 $ 1,237 $ — $ — $ ( 5,722 ) $ 218,688 Container lessee default expense, net $ 1,518 $ — $ — $ — $ — $ 1,518 Interest expense $ 113,506 $ 638 $ — $ — $ — $ 114,144 Unrealized loss on financial instruments, net $ — $ 326 $ — $ — $ — $ 326 Segment income (loss) before income tax $ 208,861 $ 33,220 $ 11,729 $ ( 4,210 ) $ ( 1,467 ) $ 248,133 Income tax (expense) benefit $ ( 5,541 ) $ 9 $ — $ — $ — $ ( 5,532 ) Total assets $ 7,731,085 $ 171,010 $ 10,364 $ 10,553 $ ( 125,977 ) $ 7,797,035 Purchase of containers and fixed assets $ 248,143 $ 2,497 $ — $ — $ — $ 250,640 Payments on container leaseback financing $ 533,867 $ — $ — $ — $ — $ 533,867 General and administrative expenses are allocated to the reportable business segments based on direct overhead costs incurred by those segments. Amounts reported in the “Other” column represent activity unrelated to the active reportable business segments. Amounts reported in the “Eliminations” column represent inter-segment management fees between the Container Management and Container Resale segments and the Container Ownership segment. Geographic Segment Information Substantially all of the Company’s leasing related revenue is denominated in U.S. dollars. As all of the Company’s containers are used internationally, where no single 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 with no single country of use. The following table represents the geographic allocation of total fleet lease rental income and management fees from non-leasing services during the three and nine months ended September 30, 2023 and 2022 based on customers’ and Container Investors’ primary domicile, respectively: Three Months Ended September 30, Nine Months Ended September 30, 2023 2022 2023 2022 Total lease rental income: Europe $ 93,489 $ 94,443 $ 279,723 $ 283,378 Asia 90,289 102,207 273,426 297,470 North / South America 8,520 8,481 25,757 25,756 Bermuda — — — — All other international 199 21 655 498 $ 192,497 $ 205,152 $ 579,561 $ 607,102 Management fees, non-leasing: Europe $ 290 $ 383 $ 1,139 $ 998 Bermuda 211 300 761 854 North / South America 12 20 52 37 Asia — — — — All other international 7 7 22 26 $ 520 $ 710 $ 1,974 $ 1,915 The following table represents the geographic allocation of trading container sales proceeds and gain on sale of owned fleet containers, net during the three and nine months ended September 30, 2023 and 2022 based on the location of sale: Three Months Ended September 30, Nine Months Ended September 30, 2023 2022 2023 2022 Trading container sales proceeds: North / South America $ 2,909 $ 2,901 $ 8,231 $ 8,525 Asia 1,139 2,602 3,986 8,574 Europe 276 288 922 1,702 Bermuda — — — — All other international — — — — $ 4,324 $ 5,791 $ 13,139 $ 18,801 Gain on sale of owned fleet containers, net: Asia $ 3,294 $ 15,623 $ 13,866 $ 40,450 North / South America 1,174 5,241 6,372 11,942 Europe 729 1,924 2,210 9,522 Bermuda — — — — All other international — — — — $ 5,197 $ 22,788 $ 22,448 $ 61,914

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Sep. 30, 2023
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	(10) Commitments and Contingencies (a) Restricted Cash Restricted interest-bearing cash accounts were established by the Company as additional collateral for outstanding borrowings under certain of the Company’s debt facilities. The total balance of these restricted cash accounts was $ 90,033 and $ 102,591 as of September 30, 2023 and December 31, 2022, respectively. (b) Container Commitments At September 30, 2023, the Company had no commitments to purchase containers to be delivered subsequent to September 30, 2023. (c) Legal Proceedings The Company is the subject of, or party to, pending or threatened legal proceedings arising in the ordinary course of its business. Based upon information presently available, the Company does not expect any liability arising from these matters to have a material effect on the Company’s consolidated financial condition, results of operations or cash flows. (d) Distribution Expense to Managed Fleet Container Investors The amounts distributed to the Container Investors are variable payments based upon the net operating income for each managed container (see Note 3 “Managed Container Fleet”). There are no future minimum lease payment obligations under the Company’s management agreements.

Shareholders' Equity

Shareholders' Equity	9 Months Ended
	Sep. 30, 2023
Equity [Abstract]
Shareholders' Equity	(11) Shareholders’ Equity Share Repurchase Program In 2019, the Company’s board of directors approved a share repurchase program to repurchase up to $ 25,000 of the Company’s common shares, the board of directors approved an aggregate increase of $ 425,000 from 2020 to 2022 , and in 2023 the program was further increased by $ 100,000 . Under the program, the Company may purchase its common shares from time to time in the open market, in privately negotiated transactions or such other manner as will comply with applicable laws and regulations. The authorization does not obligate the Company to acquire a specific number of shares during any period, but it may be modified, suspended, or terminated at any time at the discretion of the Company’s board of directors. During the nine months ended September 30, 2023, the Company repurchased 3,411,296 shares at an average price of $ 36.40 for a total amount of $ 124,160 , including commissions paid. During the nine months ended September 30, 2022, the Company repurchased 4,093,505 shares at an average price of $ 32.68 for a total amount of $ 133,775 , including commissions paid. The Company has suspended its share repurchase program and no share repurchases will be made during the pendency of the proposed Merger. Preferred Shares The following table summarizes the Company’s preferred share issuances (the “Series”): Preferred Share Offering Date of Issuance Number of Depositary Shares Issued and Outstanding (1) Liquidation Preference Underwriting Discounts Net Proceeds 7.00 % Series A fixed-to-floating rate cumulative redeemable perpetual preferred shares (“Series A”) (2) April 2021 6,000,000 $ 150,000 $ 5,292 $ 144,708 6.25 % Series B fixed rate cumulative redeemable perpetual preferred shares (“Series B”) (3) August 2021 6,000,000 150,000 5,128 144,872 Total 12,000,000 $ 300,000 $ 10,420 $ 289,580 (1) Each depositary share representing a 1/1,000 th interest in a preferred share, $ 25,000 liquidation preference per share (equivalent to $ 25.00 per depositary share). (2) Series A have no maturity date and are redeemable from June 15, 2026 by the Company. (3) Series B have no maturity date and are redeemable from December 15, 2026 by the Company. Each Series of preferred shares may be redeemed at the Company’s option, at any time after approximately five years from original issuance, for cash at a redemption price of $ 25.00 per depositary share plus an amount equal to all accumulated and unpaid dividends, whether or not declared. The Company may also redeem each Series of preferred shares in the event of a Change of Control (as defined in the Certificate of Designations). If the Company does not elect to redeem the preferred shares in a Change of Control triggering event, holders of each Series of preferred shares may have the right to convert their preferred shares into common shares. There is no mandatory redemption of each Series of preferred shares or redemption at the option of the holders. Holders of the preferred shares do not have general voting rights. See Note 1 “Description of Business” on the Series A and Series B preferred shares in accordance with the Merger Agreement. Preferred Share Dividends Dividends on each Series of preferred shares accrue daily and are cumulative from and including the date of original issuance and are payable quarterly in arrears on the 15 th day of March, June, September and December of each year, when declared by the Company’s board of directors. Dividends accrue at the stated annual rate of the $ 25,000 liquidation preference. Each Series of preferred shares rank senior to the Company ’ s common shares with respect to dividend rights and rights upon the Company's liquidation, dissolution or winding up. The Company’s board of directors approved and declared the following quarterly preferred cash dividends during the three and nine months ended September 30, 2023 and 2022 on its issued and outstanding preferred shares: Three Months Ended September 30, Nine Months Ended September 30, 2023 2022 2023 2022 Preferred Share Offering Aggregate Payment Per Depositary Share Payment (1) Aggregate Payment Per Depositary Share Payment (1) Aggregate Payment Per Depositary Share Payment (1) Aggregate Payment Per Depositary Share Payment (1) Series A $ 2,625 $ 0.44 $ 2,625 $ 0.44 $ 7,875 $ 0.44 $ 7,875 $ 0.44 Series B $ 2,343 $ 0.39 $ 2,343 $ 0.39 $ 7,031 $ 0.39 $ 7,031 $ 0.39 Total $ 4,968 $ 4,968 $ 14,906 $ 14,906 (1) Rounded to the nearest whole cent. As of September 30, 2023, the Company had cumulative undeclared and unpaid preferred dividends of $ 854 . Common Share Dividends The Company’s board of directors approved and declared the following cash dividends paid during the three and nine months ended September 30, 2023 and 2022 on its issued and outstanding common shares: Three Months Ended September 30, Nine Months Ended September 30, 2023 2022 2023 2022 Aggregate Payment Per Share Payment Aggregate Payment Per Share Payment Aggregate Payment Per Share Payment Aggregate Payment Per Share Payment Common share dividends $ 12,212 $ 0.30 $ 11,420 $ 0.25 $ 37,610 $ 0.30 $ 35,278 $ 0.25 As of September 30, 2023, the Company had accrued dividends of $ 1,210 for unvested performance restricted share units with dividend equivalent rights, which are paid when the associated award vests at the end of the performance period.

Share-Based Compensation

Share-Based Compensation	9 Months Ended
	Sep. 30, 2023
Share-Based Payment Arrangement [Abstract]
Share-Based Compensation	(12) Share-Based Compensation The Company recognizes share-based compensation expense for employee share options, time-based restricted share units (“RSU”) and performance-based restricted share units (“PSU”) based on the grant date fair value. The value of the portion of the award that is expected to vest is recognized as an expense over the employee's requisite service period, which is generally the vesting period of the award. For further discussion on the Company’s share-based compensation, please refer to Item 18, “Financial Statements – Note 11” in our 2022 Form 20-F. Share-based compensation expense of $ 2,386 and $ 6,936 was recorded during the three and nine months ended September 30, 2023, respectively, of which $ 2,282 and $ 6,636 was presented as a part of “general and administrative expenses”, and the remaining balance was presented as a part of “direct container expenses – owned fleet” during the respective periods in the Company’s consolidated statements of operations. Share-based compensation expense of $ 1,817 and $ 5,315 was recorded during the three and nine months ended September 30, 2022, respectively, of which $ 1,726 and $ 5,051 was presented as a part of “general and administrative expenses”, and the remaining balance was presented as a part of “direct container expenses – owned fleet” during the respective periods in the Company’s consolidated statements of operations. As of September 30, 2023, the total unrecognized share-based compensation expense related to non-vested share options and restricted awards was $ 9,022 which is currently expected to be recognized on a straight-line basis through October 2025. In accordance with the Merger Agreement, TGH’s non-vested restricted share units that are outstanding immediately prior to the closing of the proposed Merger will be converted into a contingent right to receive an amount in cash equal to the number of shares subject to such award, assuming attainment of the maximum level of performance, multiplied by the Per Share Merger Consideration, plus any unpaid cash in respect of dividends equivalent rights accrued prior to the Effective Time, which will become payable upon the earlier of the vesting date of the award and the twelve month anniversary of the proposed Merger closing date. In addition, each outstanding option to purchase common shares granted under the Company’s share plan immediately prior to the Effective Time (whether or not vested) (each, a “Company Option”) will automatically and without any required action on the part of the holder thereof, be cancelled and converted into the right to receive an amount in cash, without interest, equal to the product obtained by multiplying (x) the number of shares subject to such Company Option that is outstanding immediately prior to the Effective Time, by (y) the amount by which the Per Share Merger Consideration exceeds the per-share exercise price of the Company Option.

Earnings Per Share

Earnings Per Share	9 Months Ended
	Sep. 30, 2023
Earnings Per Share [Abstract]
Earnings Per Share	(13) Earnings Per Share Basic earnings per share (“EPS”) is computed by dividing net income attributable to common shareholders by the weighted average number of shares outstanding during the applicable period. Diluted EPS reflects the potential dilution that could occur if all outstanding share options were exercised for, and all outstanding RSU and PSU were converted into, common shares. A reconciliation of the numerator and denominator of basic EPS with that of diluted EPS is reported as follows: Three Months Ended Nine Months Ended September 30, September 30, Share amounts in thousands 2023 2022 2023 2022 Numerator: Net income attributable to common shareholders $ 44,677 $ 76,400 $ 149,635 $ 227,695 Denominator: Weighted average common shares outstanding - basic 40,886 45,896 41,980 47,252 Dilutive share options, RSU and PSU 1,027 811 898 840 Weighted average common shares outstanding - diluted 41,913 46,707 42,878 48,092 Net income attributable to common shareholders per common share: Basic $ 1.09 $ 1.66 $ 3.56 $ 4.82 Diluted $ 1.07 $ 1.64 $ 3.49 $ 4.73 Share options, RSU and PSU excluded from the computation of — 285 105 303

Subsequent Events

Subsequent Events	9 Months Ended
	Sep. 30, 2023
Subsequent Events [Abstract]
Subsequent Events	(14) Subsequent Events In October 2023, the Company’s board of directors approved and declared a quarterly preferred cash dividend on its issued and outstanding preferred shares, payable on December 15, 2023 to holders of record as of December 1, 2023. The dividend declared on Series A Preferred Shares and Series B Preferred Shares were $ 0.44 and $ 0.39 per depositary share (rounded to the nearest whole cent), respectively, for a total aggregate amount of $ 2,625 and $ 2,344 , respectively. In October 2023, the Company’s board of directors approved and declared a cash dividend of $ 0.30 per share on its issued and outstanding common shares, payable on December 15, 2023 to holders of record as of December 1, 2023.

Basis of Presentation and Acc_2

Basis of Presentation and Accounting Policies (Policies)	9 Months Ended
	Sep. 30, 2023
Accounting Policies [Abstract]
Basis of Presentation and Consolidation	(a) Basis of Presentation and Consolidation Certain information and footnote disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) have been condensed or omitted. The accompanying unaudited condensed consolidated interim financial statements should be read in conjunction with the audited consolidated financial statements and notes thereto included in the Company’s Annual Report on Form 20-F for the fiscal year ended December 31, 2022 (“2022 Form 20-F”) filed with the Securities and Exchange Commission on February 14, 2023. The condensed consolidated financial statements of the Company include TGH and all of its wholly-owned subsidiaries. All intercompany accounts and balances have been eliminated in consolidation. The preparation of financial statements in conformity with U.S. GAAP requires the Company’s management to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenue and expenses, and disclosure of contingent assets and liabilities in the condensed consolidated financial statements. The Company’s management evaluates its estimates on an ongoing basis, including those related to container leasing equipment such as residual values and depreciable lives, containers held for sale, allowance for credit losses, income taxes and accruals. Actual results could differ from those estimates under different assumptions or conditions. In the opinion of management, the accompanying unaudited condensed consolidated financial statements contain all adjustments (consisting of only normal and recurring adjustments) necessary to present fairly the Company’s condensed consolidated balance sheet as of September 30, 2023, the Company’s condensed consolidated statements of operations and comprehensive income for the three and nine month periods ended September 30, 2023 and 2022, and the Company’s condensed consolidated statements of shareholders’ equity and cash flows for the nine month periods ended September 30, 2023 and 2022. These condensed consolidated financial statements are not necessarily indicative of the results of operations or cash flows that may be reported for the remainder of the fiscal year ending December 31, 2023.
Concentration of Credit Risk	(b) Concentration of Credit Risk The Company’s customers are mainly international shipping lines, which transport goods on international trade routes. Once the containers are on-hire with a lessee, the Company does not track their location. The domicile of the lessee is not indicative of where the lessee is transporting the containers. The Company’s business risk in its geographic concentration lies with the creditworthiness of the lessees rather than the location of the containers or the domicile of the lessees. Total lease rental income, as reported in the condensed consolidated statements of operations, comprises revenue earned from leases on containers in the Company’s total fleet, including revenue earned from leases on containers in its managed fleet. Except for the lessees noted in the tables below, no other single lessee accounted for more than 10% of the Company’s total lease rental income for the three and nine months ended September 30, 2023 and 2022: Three Months Ended Nine Months Ended September 30, September 30, Total Lease Rental Income 2023 2022 2023 2022 Customer A 26.6 % 24.9 % 25.9 % 24.3 % Customer B 11.6 % 15.0 % 11.7 % 15.1 % Customer C 10.9 % 10.8 % 10.9 % 10.8 % Customer D 4.4 % 7.9 % 4.5 % 10.2 % Other financial instruments that are exposed to concentrations of credit risk are cash and cash equivalents, restricted cash balances, and derivatives (see Note 8 “Debt and Derivative Instruments” for further discussions). The Company maintains cash and cash equivalents and restricted cash accounts with various financial institutions, which often exceed Federal Deposit Insurance Corporation (FDIC) or foreign equivalents insurance limits. The Company has not experienced any losses in such accounts with these financial institutions. The Company does not anticipate any non-performance by the financial institutions or derivative counterparties as they are highly rated financial institutions.
Container Leasing Equipment	(c) Container Leasing Equipment Capitalized costs for container leasing equipment include the container cost payable to the manufacturer, inspection, delivery, and the associated transportation costs incurred in moving the Company’s containers from the manufacturer to the containers’ first destined location. Container leasing equipment are depreciated using the straight-line method over their estimated useful lives to an estimated residual value. Used containers are depreciated based upon their remaining useful lives at the date of acquisition to an estimated residual value. Repair and maintenance costs that do not extend the useful lives of the container leasing equipment are recognized in “direct container expense - owned fleet” in the condensed consolidated statements of operations at the time the costs are incurred. Impairment of Container Leasing Equipment The Company reviews its container leasing equipment for impairment whenever events or circumstances indicate that the carrying amount of such assets may not be recoverable. The Company compares the carrying value of the container leasing equipment to the expected future undiscounted cash flows for the purpose of assessing the recoverability of the recorded amounts. If the carrying value exceeds expected future undiscounted cash flows, the assets are reduced to fair value. There was no such impairment of the Company’s container leasing equipment for the three and nine months ended September 30, 2023 and 2022. Write-Off (Recoveries) of Container Leasing Equipment due to Lessees in Default The Company evaluates the recoverability of the recorded amounts of container leasing equipment that are unlikely to be recovered from lessees in default. For the three and nine months ended September 30, 2023, the Company recorded gains of $ 1,160 associated with recoveries on containers previously estimated as lost with lessees in default. For the three and nine months ended September 30, 2022, the Company recorded impairment charges of $ 867 and $ 1,935 , respectively, to write-off containers that were unlikely to be recovered from lessees in default, offset by gains of $ 0 and $ 827 , respectively, associated with recoveries on containers previously estimated as lost with lessees in default. These amounts are included in “container lessee default (recovery) expense, net” in the condensed consolidated statements of operations.
Containers Held for Sale	(d) Containers Held for Sale Containers identified as held for sale are valued at the lower of carrying value or fair value, less costs to sell. The Company records impairment to write-down the value of containers held for sale to their estimated fair value, less cost to sell, under observable (Level 2) market inputs. The fair value is estimated based on recent gross sales proceeds for sales of similar types of containers in the locations in which the containers are stored. When containers are sold or otherwise retired, the cost and related accumulated depreciation are removed, and any resulting gain or loss is recognized. Subsequent additions or reductions to the fair values of these written down assets are recorded as adjustments to the carrying value of the containers held for sale. The carrying value of containers held for sale that have been impaired and written down to their estimated fair value less cost to sell was $ 12,355 and $ 3,556 as of September 30, 2023 and December 31, 2022, respectively. Any subsequent increase in fair value less costs to sell is recognized as a reversal of container impairment but not in excess of the cumulative loss previously recognized. During the three and nine months ended September 30, 2023, the Company recorded container impairment charges of $ 3,190 and $ 5,001 , respectively, and during the three and nine months ended September 30, 2022, the Company recorded container impairment charges of $ 180 and $ 783 , respectively, to write down the value of containers held for sale to their estimated fair value less cost to sell, net of reversals of previously recorded impairments on containers held for sale due to rising used container prices. The impairment charges are included in “depreciation and amortization” in the condensed consolidated statements of operations.
Fair Value Measurements	(e) Fair Value Measurements As of September 30, 2023 and December 31, 2022, the carrying amounts of cash and cash equivalents, restricted cash, accounts receivable and payable, due from affiliates, net, container contracts payable and due to container investors, net, approximate their fair values due to the short-term nature of these financial instruments. See Note 2 (d) “Containers Held for Sale”, Note 5 “Leases” and Note 8 “Debt and Derivative Instruments” for further discussions on fair value of containers held for sale, fair value of net investment in finance leases and container leaseback financing receivable, and fair value of derivative instruments, respectively. As of September 30, 2023, the Company did no t hold any investments in marketable equity securities. As of December 31, 2022, the Company held investments in marketable equity securities with readily determinable fair values of $ 1,411 . The fair value of investments in marketable equity securities was measured at each balance sheet date based on quoted market prices (Level 1), with changes in fair value recorded in earnings as “other, net” in the condensed consolidated statements of operations.
Reclassifications and Changes in Presentation	(f) Reclassifications and Changes in Presentation Certain prior period amounts for the three and nine months ended September 30, 2022 have been reclassified to conform to the current period presentation. The reclassifications as discussed below have no effect on previously reported net income and net change in cash, cash equivalents, and restricted cash. • The Company reclassified the amounts out of the separate line items “realized gain (loss) on financial instruments, net” and “unrealized gain (loss) on financial instruments, net” to be included within the line item “other, net” and “changes in operating assets and liabilities” in the condensed consolidated statements of operations and in the condensed consolidated statements of cash flows, respectively. • The Company reclassified the fixed asset purchase amounts out of the previously reported line item “purchase of containers and fixed assets” to be included to the separate line item “other” in the condensed consolidated statements of cash flows.
Recently Issued Accounting Standards	(g) Recently Issued Accounting Standards In March 2022, the FASB issued Accounting Standards Update No. 2022-02, Financial Instruments – Credit Losses (Topic 326), Troubled Debt Restructurings and Vintage Disclosures ( “ ASU 2022-02”). The amendment eliminates the accounting guidance for troubled debt restructurings by creditors in Topic 310 - Receivables and amends the disclosure requirements for restructurings involving borrowers that are experiencing financial difficulty under ASU 2016-13 , Financial Instruments – Credit Losses (Topic 326), Measurement of Credit Losses on Financial Instruments , which was adopted by the Company on the effective date of January 1, 2020. ASU 2022-02 requires disclosure of current period gross write-offs by year of origination for financing receivables and net investment in finance leases and must be included in the vintage disclosure of the amortized cost basis of financing receivables and net investment in finance leases by credit quality indicator and by year of origination as required by ASU 2016-13. The Company adopted ASU 2022-02 effective January 1, 2023 on a prospective basis and the adoption of this guidance did not have an impact on the Company’s condensed consolidated financial statements. In October 2023, the FASB issued Accounting Standards Update No. 2023-06, Disclosure Improvements: Codification Amendments in Response to the SEC’s Disclosure Update and Simplification Initiative (“ASU 2023-06” ) , which incorporates updates to the FASB Accounting Standards Codification to align with certain SEC disclosure requirements. The ASU was issued in response to the SEC Final Rule Release No. 33-10532, Disclosure Update and Simplification , that was issued in August 2018 to simplify, improve, and eliminate disclosure requirements that were redundant, overlapping, or superseded. The Company will adopt ASU 2023-06 prospectively on the effective date for each amendment which will be effective upon SEC’s removal of that related disclosure or presentation requirement from Regulation S-X or Regulation S-K by June 30, 2027. The new ASU will not affect the Company’s results of operations, cash flows or financial position and the Company does not expect the adoption to have a material impact on the disclosures of the consolidated financial statements. There were no changes to the Company’s significant accounting policies during the three and nine months ended September 30, 2023. For further discussion on the Company’s accounting policies, please refer to Note 1 “Nature of Business and Summary of Significant Accounting Polices” in Item 18, “Financial Statements” in our 2022 Form 20-F.
Derivative Instruments and Hedging Activities	The Company has entered into several derivative agreements with several banks to reduce the impact of changes in interest rates associated with its variable rate debt. Interest rate swap agreements involve payments by the Company to counterparties at fixed rate interest payments in return for receipts based on floating-rate amounts. The Company has also utilized forward starting interest rate swap agreements to reduce the impact of interest rate changes on anticipated future debt issuances. The Company has also utilized interest rate cap agreements, which place a ceiling on the Company’s exposure to rising interest rates, to manage interest rate risk exposure. The Company has utilized the income approach to measure at each balance sheet date the fair value of its derivative instruments on a recurring basis using observable (Level 2) market inputs. The Company presents the fair value of derivative instruments, which are inclusive of counterparty risk, on a gross basis as separate line items on the condensed consolidated balance sheets. The Company monitors its counterparties’ credit ratings on an on-going basis and does not anticipate any non-performance by the counterparties as they are highly rated financial institutions. As of September 30, 2023 and December 31, 2022, all of the Company’s interest rate swap agreements were designated for hedge accounting purposes. The change in fair value of derivative instruments that are designated as cash flow hedge for accounting purposes are initially reported in the condensed consolidated balance sheets as a component of “accumulated other comprehensive income” and reclassified to earnings in “interest expense, net” when realized.

Basis of Presentation and Acc_3

Basis of Presentation and Accounting Policies (Tables)	9 Months Ended
	Sep. 30, 2023
Accounting Policies [Abstract]
Schedule of Concentration Risk of Total Lease Rental Income	Except for the lessees noted in the tables below, no other single lessee accounted for more than 10% of the Company’s total lease rental income for the three and nine months ended September 30, 2023 and 2022: Three Months Ended Nine Months Ended September 30, September 30, Total Lease Rental Income 2023 2022 2023 2022 Customer A 26.6 % 24.9 % 25.9 % 24.3 % Customer B 11.6 % 15.0 % 11.7 % 15.1 % Customer C 10.9 % 10.8 % 10.9 % 10.8 % Customer D 4.4 % 7.9 % 4.5 % 10.2 %

Managed Container Fleet (Tables

Managed Container Fleet (Tables)	9 Months Ended
	Sep. 30, 2023
Revenue from Contract with Customer [Abstract]
Schedule of Company's Leasing Equipment	The Company’s container leasing equipment includes such managed containers in the condensed consolidated balance sheets as of September 30, 2023 and December 31, 2022, which consisted of the following: September 30, 2023 December 31, 2022 Cost Accumulated Net Book Cost Accumulated Net Book Containers - owned fleet $ 6,192,062 $ ( 2,134,183 ) $ 4,057,879 $ 6,378,374 $ ( 2,027,743 ) $ 4,350,631 Containers - managed fleet 16,401 ( 2,651 ) 13,750 16,417 ( 1,924 ) 14,493 Total containers $ 6,208,463 $ ( 2,136,834 ) $ 4,071,629 $ 6,394,791 $ ( 2,029,667 ) $ 4,365,124
Summary of Income from Managed Fleet, Including Management Fees Earned from Acquisition Fees and Sales Commissions	Income from the managed fleet, including management fees earned from acquisition fees and sales commissions during the three and nine months ended September 30, 2023 and 2022 were as follows: Three Months Ended September 30, Nine Months Ended September 30, 2023 2022 2023 2022 Lease rental income - managed fleet $ 10,405 $ 12,322 $ 32,208 $ 37,641 Less: distribution expense to managed fleet container ( 9,214 ) ( 10,952 ) ( 28,646 ) ( 33,427 ) Less: depreciation and interest expense on managed ( 450 ) ( 462 ) ( 1,340 ) ( 1,373 ) 741 908 2,222 2,841 Management fees from non-leasing services 520 710 1,974 1,915 Total $ 1,261 $ 1,618 $ 4,196 $ 4,756
Summary of Reconciliation of Balance Sheet Accounts From the Managed Fleet to Total Amount in Condensed Consolidated Balance Sheets	The following table provides a reconciliation of the balance sheet accounts from the managed fleet to the total amount as of September 30, 2023 and December 31, 2022 in the condensed consolidated balance sheets (also, see Note 4 “Transactions with Affiliates and Container Investors”): September 30, 2023 December 31, 2022 Accounts receivable, net - owned fleet $ 103,645 $ 107,457 Accounts receivable, net - managed fleet 6,795 7,348 Total accounts receivable, net $ 110,440 $ 114,805 Prepaid expenses and other current assets - owned fleet $ 7,969 $ 16,614 Prepaid expenses and other current assets - managed fleet 414 89 Total prepaid expenses and other current assets $ 8,383 $ 16,703 Accounts payable and accrued expenses - owned fleet $ 23,536 $ 22,868 Accounts payable and accrued expenses - managed fleet 847 1,292 Total accounts payable and accrued expenses $ 24,383 $ 24,160 Container contracts payable - owned fleet $ 1,522 $ 6,648 Total container contracts payable $ 1,522 $ 6,648

Transactions with Affiliates _2

Transactions with Affiliates and Container Investors (Tables)	9 Months Ended
	Sep. 30, 2023
Related Party Transactions [Abstract]
Summary of Due to Container Investors, Net	The following table provides a summary of due to container investors, net at September 30, 2023 and December 31, 2022: September 30, 2023 December 31, 2022 Accounts receivable, net - managed fleet $ 6,795 $ 7,348 Prepaid expenses and other current assets - managed fleet 414 89 Accounts payable and accrued expenses - managed fleet ( 847 ) ( 1,292 ) 6,362 6,145 Distributions due to container investors on lease rentals collected, net of 7,556 9,987 Due to container investors, net $ 13,918 $ 16,132

Leases (Tables)

Leases (Tables)	9 Months Ended
	Sep. 30, 2023
Leases [Abstract]
Schedule of Lease Rental Income	The Company’s lease rental income for the three and nine months ended September 30, 2023 and 2022 were as follows: Three Months Ended September 30, 2023 2022 Owned Managed Total Owned Managed Total Lease rental income - operating leases $ 139,373 $ 10,043 $ 149,416 $ 149,729 $ 11,801 $ 161,530 Interest income on net investment in finance leases 26,295 — 26,295 26,842 — 26,842 Interest income on container leaseback financing 13,238 — 13,238 12,216 — 12,216 Variable lease revenue 3,186 362 3,548 4,043 521 4,564 Total lease rental income $ 182,092 $ 10,405 $ 192,497 $ 192,830 $ 12,322 $ 205,152 Nine Months Ended September 30, 2023 2022 Owned Managed Total Owned Managed Total Lease rental income - operating leases $ 420,501 $ 30,574 $ 451,075 $ 448,053 $ 36,502 $ 484,555 Interest income on net investment in finance leases 78,807 — 78,807 81,402 — 81,402 Interest income on container leaseback financing 36,903 — 36,903 29,968 — 29,968 Variable lease revenue 11,142 1,634 12,776 10,038 1,139 11,177 Total lease rental income $ 547,353 $ 32,208 $ 579,561 $ 569,461 $ 37,641 $ 607,102
Schedule of Components of Net Investment in Finance Leases	The following table represents the components of the net investment in finance leases as of September 30, 2023 and December 31, 2022: September 30, 2023 December 31, 2022 Future minimum lease payments receivable $ 2,380,340 $ 2,487,365 Residual value of containers 46,960 47,686 Less: unearned income ( 664,574 ) ( 713,736 ) Net investment in finance leases (1) 1,762,726 1,821,315 Less: Allowance for credit losses ( 843 ) ( 1,279 ) Net investment in finance leases, net (2) $ 1,761,883 $ 1,820,036 Amounts due within one year 132,824 130,913 Amounts due beyond one year 1,629,059 1,689,123 Net investment in finance leases, net $ 1,761,883 $ 1,820,036 (1) One major customer represented 82.2 % and 80.8 % of the Company’s finance leases portfolio as of September 30, 2023 and December 31, 2022, respectively. No other customer represented more than 10% of the Company’s finance leases portfolio in each of those periods. (2) As of September 30, 2023 and December 31, 2022, the fair value of net investment in finance leases (including the short-term balance) was approximately $ 1,533,656 and $ 1,659,155 , respectively, and was measured using Level 2 inputs.
Schedule of Components of Container Leaseback Financing Receivable	The following table represents the components of the container leaseback financing receivable as of September 30, 2023 and December 31, 2022: September 30, 2023 December 31, 2022 Future minimum payments receivable $ 1,266,662 $ 1,179,515 Less: unearned income ( 388,724 ) ( 354,769 ) Container leaseback financing receivable (1) 877,938 824,746 Less: Allowance for credit losses ( 50 ) ( 114 ) Container leaseback financing receivable, net (2) $ 877,888 $ 824,632 Amounts due within one year 57,812 53,652 Amounts due beyond one year 820,076 770,980 Container leaseback financing receivable, net $ 877,888 $ 824,632 (1) One major customer represented 98.5 % and 97.4 % of the Company’s container leaseback financing receivable portfolio as of September 30, 2023 and December 31, 2022, respectively. (2) As of September 30, 2023 and December 31, 2022, the fair value of container leaseback financing receivable (including the short-term balance) was approximately $ 743,676 and $ 732,951 , respectively, and was measured using Level 2 inputs.

Allowance for Credit Losses (Ta

Allowance for Credit Losses (Tables)	9 Months Ended
	Sep. 30, 2023
Allowance for Credit Loss [Abstract]
Summary of Net Investment in Finance Leases and Container Leaseback Financing Receivable	The following table presents the net investment in finance leases and container leaseback financing receivable by internal credit rating category and year of origination as of September 30, 2023: Nine Months Ended September 30, 2023 2022 2021 2020 2019 Prior Total Tier 1 $ 38,945 $ 92,916 $ 776,526 $ 541,788 $ 92,750 $ 34,748 $ 1,577,673 Tier 2 572 23,367 69,890 29,667 26,509 13,907 163,912 Tier 3 1,948 7,367 5,417 1,440 4,899 70 21,141 Net investment in finance $ 41,465 $ 123,650 $ 851,833 $ 572,895 $ 124,158 $ 48,725 $ 1,762,726 Tier 1 $ 93,581 $ 488,238 $ 11,000 $ 96,100 $ 176,127 $ — $ 865,046 Tier 2 — — 3,079 — 9,813 — 12,892 Container leaseback financing $ 93,581 $ 488,238 $ 14,079 $ 96,100 $ 185,940 $ — $ 877,938

Debt and Derivative Instrumen_2

Debt and Derivative Instruments (Tables)	9 Months Ended
	Sep. 30, 2023
Debt Disclosure [Abstract]
Debt Obligation	The following represents the Company’s debt obligations as of September 30, 2023 and December 31, 2022: Secured Debt Facilities, Revolving Credit Facilities, Term Loan and Bonds Payable September 30, 2023 December 31, 2022 Outstanding Average Interest Outstanding Average Interest Final Maturity TL Revolving Credit Facility $ 1,322,858 6.78 % $ 1,367,858 5.78 % August 2027 TL 2019 Term Loan 118,567 3.50 % 127,293 3.50 % December 2026 TL 2021-1 Term loan 56,101 2.65 % 60,314 2.65 % February 2028 TL 2021-2 Term Loan 181,098 2.90 % 192,202 2.90 % October 2028 TMCL II Secured Debt Facility (1) 1,180,491 7.00 % 1,239,440 6.00 % November 2028 TMCL VII 2020-1 Bonds 294,076 3.06 % 332,413 3.06 % August 2045 TMCL VII 2020-2 Bonds 431,865 2.26 % 476,279 2.26 % September 2045 TMCL VII 2020-3 Bonds 160,667 2.15 % 175,750 2.15 % September 2045 TMCL VII 2021-1 Bonds 434,983 1.72 % 467,881 1.72 % February 2046 TMCL VII 2021-2 Bonds 525,301 2.27 % 564,373 2.27 % April 2046 TMCL VII 2021-3 Bonds 500,000 1.98 % 536,000 1.98 % August 2046 Total debt obligations (2) $ 5,206,007 $ 5,539,803 Unamortized debt premiums and discounts $ ( 27,935 ) $ ( 34,884 ) Debt, net of unamortized costs $ 5,178,071 $ 5,504,919 Debt, net of unamortized costs - current $ 389,570 $ 377,898 Debt, net of unamortized costs - non-current $ 4,788,501 $ 5,127,021 (1) Final maturity of the TMCL II Secured Debt Facility is based on the assumption that the facility will not be extended on its associated conversion date. (2) The fair value of total debt based on the borrowing rates available to the Company was approximately $ 4,770,107 and $ 5,107,874 at September 30, 2023 and December 31, 2022, respectively, and was measured using Level 2 inputs.
Summary of Outstanding Fixed-Rate and Floating-Rate Debt	The following table summarizes the Company’s outstanding fixed-rate and floating-rate debt as of September 30, 2023: Balance Outstanding Contractual Weighted Average Interest Rate Excluding impact of derivative instruments: Fixed-rate debt $ 2,702,658 2.31 % Floating-rate debt 2,503,349 6.88 % Including impact of derivative instruments: Fixed-rate debt 2,702,658 2.31 % Hedged floating-rate debt 2,088,369 3.28 % Total fixed and hedged debt 4,791,027 2.73 % Unhedged floating-rate debt 414,980 6.82 % Total $ 5,206,007 3.06 %
Summary of Derivative Instruments	The following table summarizes the Company’s derivative instruments as of September 30, 2023: Notional Derivative instruments amount Interest rate swap contracts with several banks that were indexed to daily SOFR, with fixed rates between 0.12 % and 3.84 % per annum, amortizing notional amounts, with termination dates through December 31, 2033 (1) $ 2,088,369 (1) Excludes the Company’s interest rate swap contract with an effective date in a future period (“forward starting interest rate swap”). In February 2022, the Company entered into a forward starting interest rate swap with a bank that was indexed to daily SOFR and with an initial notional amount of $ 100,000 . The Company pays a fixed rate at 1.96 % and with an effective date of February 28, 2024 and termination date of February 28 , 2034 .
Summary of Fair Value of Derivative Instruments on Consolidated Balance Sheet	The following table summarizes the fair value of derivative instruments on the consolidated balance sheet as of September 30, 2023: Fair Values of Derivative Instruments Assets (liabilities), net Balance at December 31, 2022 $ 149,244 Change in derivative instruments designated as cash flow hedges 82,459 Reclassification of realized gain on derivative instruments ( 54,452 ) Balance at September 30, 2023 $ 177,251
Summary of Pre-tax Impact of Derivative Instruments on Condensed Consolidated Statements of Operations	The following table summarizes the pre-tax impact of derivative instruments on the condensed consolidated statements of operations during the three and nine months ended September 30, 2023 and 2022: Three Months Ended September 30, Nine Months Ended September 30, Derivative instruments Financial Statement Line Item 2023 2022 2023 2022 Designated Other comprehensive income $ 50,220 $ 54,227 $ 82,459 $ 143,327 Designated Interest income $ 19,488 $ 5,061 $ 54,452 $ 766

Segment Information (Tables)

Segment Information (Tables)	9 Months Ended
	Sep. 30, 2023
Segment Reporting [Abstract]
Summary of Segment Information	The following tables show segment information for the three and nine months ended September 30, 2023 and 2022: Container Container Container Three Months Ended September 30, 2023 Ownership Management Resale Other Eliminations Totals Total lease rental income $ 181,145 $ 10,600 $ — $ — $ 752 $ 192,497 Management fees - non-leasing from $ — $ 46 $ 474 $ — $ — $ 520 Inter-segment management fees $ — $ 14,788 $ 2,600 $ — $ ( 17,388 ) $ — Trading container margin $ — $ — $ 306 $ — $ — $ 306 Gain on sale of owned fleet containers, net $ 5,197 $ — $ — $ — $ — $ 5,197 Depreciation $ 75,158 $ 372 $ — $ — $ ( 1,844 ) $ 73,686 Container lessee default recovery, net $ 1,108 $ — $ — $ — $ — $ 1,108 Interest expense $ 43,545 $ 206 $ — $ — $ — $ 43,751 Segment income (loss) before income taxes $ 43,137 $ 5,259 $ 2,448 $ ( 2,589 ) $ 2,514 $ 50,769 Income tax (expense) benefit $ ( 1,477 ) $ 353 $ — $ — $ — $ ( 1,124 ) Total assets $ 7,261,279 $ 178,118 $ 6,185 $ 4,779 $ ( 143,870 ) $ 7,306,491 Purchase of containers $ 27,948 $ — $ — $ — $ — $ 27,948 Payments on container leaseback financing $ — $ — $ — $ — $ — $ — Container Container Container Nine Months Ended September 30, 2023 Ownership Management Resale Other Eliminations Totals Total lease rental income $ 544,521 $ 32,832 $ — $ — $ 2,208 $ 579,561 Management fees - non-leasing from $ — $ 143 $ 1,831 $ — $ — $ 1,974 Inter-segment management fees $ — $ 45,708 $ 9,838 $ — $ ( 55,546 ) $ — Trading container margin $ — $ — $ 350 $ — $ — $ 350 Gain on sale of owned fleet containers, net $ 22,448 $ — $ — $ — $ — $ 22,448 Depreciation $ 220,460 $ 1,172 $ — $ — $ ( 5,581 ) $ 216,051 Container lessee default recovery, net $ 1,057 $ — $ — $ — $ — $ 1,057 Interest expense $ 127,410 $ 609 $ — $ — $ — $ 128,019 Segment income (loss) before income taxes $ 140,846 $ 18,297 $ 9,600 $ ( 6,411 ) $ 6,155 $ 168,487 Income tax (expense) benefit $ ( 5,148 ) $ 1,202 $ — $ — $ — $ ( 3,946 ) Total assets $ 7,261,279 $ 178,118 $ 6,185 $ 4,779 $ ( 143,870 ) $ 7,306,491 Purchase of containers $ 66,386 $ - $ — $ — $ — $ 66,386 Payments on container leaseback financing $ 96,005 $ — $ — $ — $ — $ 96,005 Container Container Container Three Months Ended September 30, 2022 Ownership Management Resale Other Eliminations Totals Total lease rental income $ 191,926 $ 12,503 $ — $ — $ 723 $ 205,152 Management fees - non-leasing from external $ — $ 53 $ 657 $ — $ — $ 710 Inter-segment management fees $ — $ 16,875 $ 4,576 $ — $ ( 21,451 ) $ — Trading container margin $ — $ — $ 457 $ — $ — $ 457 Gain on sale of owned fleet containers, net $ 22,788 $ — $ — $ — $ — $ 22,788 Depreciation and amortization $ 74,711 $ 432 $ — $ — $ ( 1,905 ) $ 73,238 Container lessee default expense, net $ 963 $ — $ — $ — $ — $ 963 Interest expense $ 41,027 $ 215 $ — $ — $ — $ 41,242 Unrealized loss on financial instruments, net $ — $ 204 $ — $ — $ — $ 204 Segment income (loss) before income tax $ 68,899 $ 8,357 $ 4,873 $ ( 1,164 ) $ 2,249 $ 83,214 Income tax (expense) benefit $ ( 1,930 ) $ 84 $ — $ — $ — $ ( 1,846 ) Total assets $ 7,731,085 $ 171,010 $ 10,364 $ 10,553 $ ( 125,977 ) $ 7,797,035 Purchase of containers and fixed assets $ 55,191 $ 378 $ — $ — $ — $ 55,569 Payments on container leaseback financing $ — $ — $ — $ — $ — $ — Container Container Container Nine Months Ended September 30, 2022 Ownership Management Resale Other Eliminations Totals Total lease rental income $ 566,994 $ 38,105 $ — $ — $ 2,003 $ 607,102 Management fees - non-leasing from external $ — $ 172 $ 1,743 $ — $ — $ 1,915 Inter-segment management fees $ — $ 59,932 $ 10,586 $ — $ ( 70,518 ) $ - Trading container margin $ — $ — $ 1,766 $ — $ — $ 1,766 Gain on sale of owned fleet containers, net $ 61,718 $ — $ — $ — $ 196 $ 61,914 Depreciation and amortization $ 223,173 $ 1,237 $ — $ — $ ( 5,722 ) $ 218,688 Container lessee default expense, net $ 1,518 $ — $ — $ — $ — $ 1,518 Interest expense $ 113,506 $ 638 $ — $ — $ — $ 114,144 Unrealized loss on financial instruments, net $ — $ 326 $ — $ — $ — $ 326 Segment income (loss) before income tax $ 208,861 $ 33,220 $ 11,729 $ ( 4,210 ) $ ( 1,467 ) $ 248,133 Income tax (expense) benefit $ ( 5,541 ) $ 9 $ — $ — $ — $ ( 5,532 ) Total assets $ 7,731,085 $ 171,010 $ 10,364 $ 10,553 $ ( 125,977 ) $ 7,797,035 Purchase of containers and fixed assets $ 248,143 $ 2,497 $ — $ — $ — $ 250,640 Payments on container leaseback financing $ 533,867 $ — $ — $ — $ — $ 533,867
Segment Information Geographic Allocation of Lease Rental Income and Management Fees	The following table represents the geographic allocation of total fleet lease rental income and management fees from non-leasing services during the three and nine months ended September 30, 2023 and 2022 based on customers’ and Container Investors’ primary domicile, respectively: Three Months Ended September 30, Nine Months Ended September 30, 2023 2022 2023 2022 Total lease rental income: Europe $ 93,489 $ 94,443 $ 279,723 $ 283,378 Asia 90,289 102,207 273,426 297,470 North / South America 8,520 8,481 25,757 25,756 Bermuda — — — — All other international 199 21 655 498 $ 192,497 $ 205,152 $ 579,561 $ 607,102 Management fees, non-leasing: Europe $ 290 $ 383 $ 1,139 $ 998 Bermuda 211 300 761 854 North / South America 12 20 52 37 Asia — — — — All other international 7 7 22 26 $ 520 $ 710 $ 1,974 $ 1,915
Segment Information Geographic Allocation of Trading Container Sales Proceeds and Gains on Sale of Owned Fleet Containers Net	The following table represents the geographic allocation of trading container sales proceeds and gain on sale of owned fleet containers, net during the three and nine months ended September 30, 2023 and 2022 based on the location of sale: Three Months Ended September 30, Nine Months Ended September 30, 2023 2022 2023 2022 Trading container sales proceeds: North / South America $ 2,909 $ 2,901 $ 8,231 $ 8,525 Asia 1,139 2,602 3,986 8,574 Europe 276 288 922 1,702 Bermuda — — — — All other international — — — — $ 4,324 $ 5,791 $ 13,139 $ 18,801 Gain on sale of owned fleet containers, net: Asia $ 3,294 $ 15,623 $ 13,866 $ 40,450 North / South America 1,174 5,241 6,372 11,942 Europe 729 1,924 2,210 9,522 Bermuda — — — — All other international — — — — $ 5,197 $ 22,788 $ 22,448 $ 61,914

Shareholders' Equity (Tables)

Shareholders' Equity (Tables)	9 Months Ended
	Sep. 30, 2023
Class Of Stock [Line Items]
Summary of Preferred Share Issuances	The following table summarizes the Company’s preferred share issuances (the “Series”): Preferred Share Offering Date of Issuance Number of Depositary Shares Issued and Outstanding (1) Liquidation Preference Underwriting Discounts Net Proceeds 7.00 % Series A fixed-to-floating rate cumulative redeemable perpetual preferred shares (“Series A”) (2) April 2021 6,000,000 $ 150,000 $ 5,292 $ 144,708 6.25 % Series B fixed rate cumulative redeemable perpetual preferred shares (“Series B”) (3) August 2021 6,000,000 150,000 5,128 144,872 Total 12,000,000 $ 300,000 $ 10,420 $ 289,580 (1) Each depositary share representing a 1/1,000 th interest in a preferred share, $ 25,000 liquidation preference per share (equivalent to $ 25.00 per depositary share). (2) Series A have no maturity date and are redeemable from June 15, 2026 by the Company. (3) Series B have no maturity date and are redeemable from December 15, 2026 by the Company.
Summary of Company's Board of Directors Approved and Declared Cash Dividend	The Company’s board of directors approved and declared the following quarterly preferred cash dividends during the three and nine months ended September 30, 2023 and 2022 on its issued and outstanding preferred shares: Three Months Ended September 30, Nine Months Ended September 30, 2023 2022 2023 2022 Preferred Share Offering Aggregate Payment Per Depositary Share Payment (1) Aggregate Payment Per Depositary Share Payment (1) Aggregate Payment Per Depositary Share Payment (1) Aggregate Payment Per Depositary Share Payment (1) Series A $ 2,625 $ 0.44 $ 2,625 $ 0.44 $ 7,875 $ 0.44 $ 7,875 $ 0.44 Series B $ 2,343 $ 0.39 $ 2,343 $ 0.39 $ 7,031 $ 0.39 $ 7,031 $ 0.39 Total $ 4,968 $ 4,968 $ 14,906 $ 14,906 (1) Rounded to the nearest whole cent.
Common Share
Class Of Stock [Line Items]
Summary of Company's Board of Directors Approved and Declared Cash Dividend	The Company’s board of directors approved and declared the following cash dividends paid during the three and nine months ended September 30, 2023 and 2022 on its issued and outstanding common shares: Three Months Ended September 30, Nine Months Ended September 30, 2023 2022 2023 2022 Aggregate Payment Per Share Payment Aggregate Payment Per Share Payment Aggregate Payment Per Share Payment Aggregate Payment Per Share Payment Common share dividends $ 12,212 $ 0.30 $ 11,420 $ 0.25 $ 37,610 $ 0.30 $ 35,278 $ 0.25 As of September 30, 2023, the Company had accrued dividends of $ 1,210 for unvested performance restricted share units with dividend equivalent rights, which are paid when the associated award vests at the end of the performance period.

Earnings Per Share (Tables)

Earnings Per Share (Tables)	9 Months Ended
	Sep. 30, 2023
Earnings Per Share [Abstract]
Reconciliation of Numerator and Denominator of Basic Earnings Per Share ("EPS") With That of Diluted EPS	A reconciliation of the numerator and denominator of basic EPS with that of diluted EPS is reported as follows: Three Months Ended Nine Months Ended September 30, September 30, Share amounts in thousands 2023 2022 2023 2022 Numerator: Net income attributable to common shareholders $ 44,677 $ 76,400 $ 149,635 $ 227,695 Denominator: Weighted average common shares outstanding - basic 40,886 45,896 41,980 47,252 Dilutive share options, RSU and PSU 1,027 811 898 840 Weighted average common shares outstanding - diluted 41,913 46,707 42,878 48,092 Net income attributable to common shareholders per common share: Basic $ 1.09 $ 1.66 $ 3.56 $ 4.82 Diluted $ 1.07 $ 1.64 $ 3.49 $ 4.73 Share options, RSU and PSU excluded from the computation of — 285 105 303

Description of Business - Addit

Description of Business - Additional Information (Detail)	3 Months Ended		9 Months Ended
	Sep. 30, 2023 Segment	Sep. 30, 2022 Segment	Sep. 30, 2023 Segment	Sep. 30, 2022 Segment	Oct. 22, 2023 $ / shares
Segment Reporting Information [Line Items]
Number of reportable segments | Segment	3	3	3	3
Subsequent Event
Segment Reporting Information [Line Items]
Per share merger consideration | $ / shares					$ 50

Basis of Presentation and Acc_4

Basis of Presentation and Accounting Policies - Additional Information (Detail)	3 Months Ended		9 Months Ended
	Sep. 30, 2023 USD ($) $ / shares	Sep. 30, 2022 USD ($)	Sep. 30, 2023 USD ($) Lessee $ / shares	Sep. 30, 2022 USD ($) Lessee	Dec. 31, 2022 USD ($) $ / shares
Accounting Policies And Recent Accounting Pronouncements [Line Items]
Investments in marketable equity securities with readily determinable fair values	$ 0		$ 0		$ 1,411,000
Common shares, par value | $ / shares	$ 0.01		$ 0.01		$ 0.01
Total Lease Rental Income | Customer Concentration Risk
Accounting Policies And Recent Accounting Pronouncements [Line Items]
Number of lessees who made greater than 10% of lease rental | Lessee			0	0
Containers held for sale | Fair Value, Inputs, Level 2
Accounting Policies And Recent Accounting Pronouncements [Line Items]
Assets measured at fair value on non-recurring basis	$ 12,355,000		$ 12,355,000		$ 3,556,000
Containers
Accounting Policies And Recent Accounting Pronouncements [Line Items]
Impairment charges of long lived assets held for use	0	$ 0	0	$ 0
Impairment (recovery) charges to write-off containers		867,000		1,935,000
Gain on container recovery	1,160,000	0	1,160,000	827,000
Containers for Sale
Accounting Policies And Recent Accounting Pronouncements [Line Items]
Container impairment charges (reversals) to write down value, held for sale, net of reversals	$ 3,190,000	$ 180,000	$ 5,001,000	$ 783,000

Schedule of Concentration Risk

Schedule of Concentration Risk of Total Lease Rental Income (Detail) - Total Fleet Lease Rental Income - Customer Concentration Risk	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Customer A
Capital Leased Assets [Line Items]
Percentage of lease rental income	26.60%	24.90%	25.90%	24.30%
Customer B
Capital Leased Assets [Line Items]
Percentage of lease rental income	11.60%	15%	11.70%	15.10%
Customer C
Capital Leased Assets [Line Items]
Percentage of lease rental income	10.90%	10.80%	10.90%	10.80%
Customer D
Capital Leased Assets [Line Items]
Percentage of lease rental income	4.40%	7.90%	4.50%	10.20%

Managed Container Fleet - Addit

Managed Container Fleet - Additional Information (Detail) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Managed Containers
Property Plant And Equipment [Line Items]
Containers, leaseback financial liability	$ 14,212	$ 14,841

Schedule of Company's Leasing E

Schedule of Company's Leasing Equipment (Detail) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Property Plant And Equipment [Line Items]
Containers, cost	$ 6,208,463	$ 6,394,791
Containers, accumulated depreciation	(2,136,834)	(2,029,667)
Containers, net book value	4,071,629	4,365,124
Containers - Owned Fleet
Property Plant And Equipment [Line Items]
Containers, cost	6,192,062	6,378,374
Containers, accumulated depreciation	(2,134,183)	(2,027,743)
Containers, net book value	4,057,879	4,350,631
Containers - Managed Fleet
Property Plant And Equipment [Line Items]
Containers, cost	16,401	16,417
Containers, accumulated depreciation	(2,651)	(1,924)
Containers, net book value	$ 13,750	$ 14,493

Summary of Total Lease Manageme

Summary of Total Lease Management Fee Income from Managed Fleet, Including Management Fees Earned from Acquisition Fees and Sales Commissions (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Disaggregation Of Revenue [Line Items]
Lease rental income - managed fleet	$ 192,497	$ 205,152	$ 579,561	$ 607,102
Managed Fleet
Disaggregation Of Revenue [Line Items]
Lease rental income - managed fleet	10,405	12,322	32,208	37,641
Less: distribution expense to managed fleet container investors	(9,214)	(10,952)	(28,646)	(33,427)
Less: depreciation and interest expense on managed containers purchased on or after January 1, 2019	(450)	(462)	(1,340)	(1,373)
Leasing
Disaggregation Of Revenue [Line Items]
Revenue	741	908	2,222	2,841
Other Services
Disaggregation Of Revenue [Line Items]
Revenue	520	710	1,974	1,915
Total
Disaggregation Of Revenue [Line Items]
Revenue	$ 1,261	$ 1,618	$ 4,196	$ 4,756

Summary of Reconciliation of Ba

Summary of Reconciliation of Balance Sheet Accounts From the Managed Fleet to Total Amount in Condensed Consolidated Balance Sheets (Detail) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Reconciliation Of Current Assets And Liabilities [Line Items]
Total accounts receivable, net	$ 110,440	$ 114,805
Total prepaid expenses and other current assets	8,383	16,703
Total accounts payable and accrued expenses	24,383	24,160
Total container contracts payable	1,522	6,648
Owned Fleet
Reconciliation Of Current Assets And Liabilities [Line Items]
Total accounts receivable, net	103,645	107,457
Total prepaid expenses and other current assets	7,969	16,614
Total accounts payable and accrued expenses	23,536	22,868
Total container contracts payable	1,522	6,648
Managed Fleet
Reconciliation Of Current Assets And Liabilities [Line Items]
Total accounts receivable, net	6,795	7,348
Total prepaid expenses and other current assets	414	89
Total accounts payable and accrued expenses	$ 847	$ 1,292

Transactions with Affiliates _3

Transactions with Affiliates and Container Investors - Additional Information (Detail) - USD ($)	Sep. 30, 2023	Dec. 31, 2022
Related Party Transaction [Line Items]
Due to container investors, net	$ 13,918,000	$ 16,132,000
Affiliated Container Investors
Related Party Transaction [Line Items]
Due to container investors, net	0	0
Affliated Entity
Related Party Transaction [Line Items]
Due from affiliates, net	$ 3,130,000	$ 2,758,000

Summary of Due to Container Inv

Summary of Due to Container Investors, Net (Detail) - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2023	Dec. 31, 2022
Related Party Transaction [Line Items]
Distributions due to container investors on lease rentals collected, net of container expenses paid and management fees	$ 7,556	$ 9,987
Due to container investors, net	13,918	16,132
Managed Fleet
Related Party Transaction [Line Items]
Accounts receivable	6,795	7,348
Prepaid expenses and other current assets	414	89
Accounts payable and accrued expenses	(847)	(1,292)
Due from to related party	$ 6,362	$ 6,145

Schedule of Lease Rental Income

Schedule of Lease Rental Income (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Lessor Lease Description [Line Items]
Lease rental income - operating leases	$ 149,416	$ 161,530	$ 451,075	$ 484,555
Operating Lease, Lease Income, Statement of Income or Comprehensive Income [Extensible Enumeration]	Lease Rental Income	Lease Rental Income	Lease Rental Income	Lease Rental Income
Interest income on net investment in finance leases	$ 26,295	$ 26,842	$ 78,807	$ 81,402
Interest income on container leaseback financing receivable	13,238	12,216	36,903	29,968
Variable lease revenue	3,548	4,564	12,776	11,177
Total lease rental income	192,497	205,152	579,561	607,102
Owned Fleet
Lessor Lease Description [Line Items]
Lease rental income - operating leases	139,373	149,729	420,501	448,053
Interest income on net investment in finance leases	26,295	26,842	78,807	81,402
Interest income on container leaseback financing receivable	13,238	12,216	36,903	29,968
Variable lease revenue	3,186	4,043	11,142	10,038
Total lease rental income	182,092	192,830	547,353	569,461
Managed Fleet
Lessor Lease Description [Line Items]
Lease rental income - operating leases	10,043	11,801	30,574	36,502
Variable lease revenue	362	521	1,634	1,139
Total lease rental income	$ 10,405	$ 12,322	$ 32,208	$ 37,641

Leases - Lessor - Additional In

Leases - Lessor - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Lessor Disclosure [Abstract]
Direct financing and sales-type leases, gain (loss)	$ (6)	$ 168	$ (131)	$ 1,340

Components of net Investment in

Components of net Investment in Direct Financing and Sales-Type Leases (Detail) - USD ($) $ in Thousands		Sep. 30, 2023	Dec. 31, 2022
Leases [Abstract]
Future minimum lease payments receivable		$ 2,380,340	$ 2,487,365
Residual value of containers		46,960	47,686
Less: unearned income		(664,574)	(713,736)
Net investment in finance leases	[1]	1,762,726	1,821,315
Less: Allowance for credit losses		(843)	(1,279)
Net investment in finance leases, net	[2]	1,761,883	1,820,036
Amounts due within one year		132,824	130,913
Amounts due beyond one year		$ 1,629,059	$ 1,689,123
[1] One major customer represented 82.2 % and 80.8 % of the Company’s finance leases portfolio as of September 30, 2023 and December 31, 2022, respectively. No other customer represented more than 10% of the Company’s finance leases portfolio in each of those periods. As of September 30, 2023 and December 31, 2022, the fair value of net investment in finance leases (including the short-term balance) was approximately $ 1,533,656 and $ 1,659,155 , respectively, and was measured using Level 2 inputs.

Components of net Investment _2

Components of net Investment in Direct Financing and Sales-Type Leases (Parenthetical) (Detail) $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2023 USD ($) Customer	Dec. 31, 2022 USD ($) Customer
Capital Leased Assets [Line Items]
Number of customers represent direct financing and sales-type leases portfolio | Customer	1	1
Fair value of net investment in finance leases | $	$ 1,533,656	$ 1,659,155
Customer One
Capital Leased Assets [Line Items]
Percentage of direct financing and sales-type leases portfolio	82.20%	80.80%

Summary of Future Minimum Payme

Summary of Future Minimum Payments Receivable Under Container Leaseback Financing Receivable (Detail) - USD ($) $ in Thousands		Sep. 30, 2023	Dec. 31, 2022
Lessor Disclosure [Abstract]
Future minimum payments receivable		$ 1,266,662	$ 1,179,515
Less: unearned income		(388,724)	(354,769)
Container leaseback financing receivable	[1]	877,938	824,746
Less: Allowance for credit losses		(50)	(114)
Container leaseback financing receivable, net	[2]	877,888	824,632
Amounts due within one year		57,812	53,652
Amounts due beyond one year		$ 820,076	$ 770,980
[1] One major customer represented 98.5 % and 97.4 % of the Company’s container leaseback financing receivable portfolio as of September 30, 2023 and December 31, 2022, respectively. As of September 30, 2023 and December 31, 2022, the fair value of container leaseback financing receivable (including the short-term balance) was approximately $ 743,676 and $ 732,951 , respectively, and was measured using Level 2 inputs.

Summary of Future Minimum Pay_2

Summary of Future Minimum Payments Receivable Under Container Leaseback Financing Receivable (Parenthetical) (Detail) $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2023 USD ($) Customer	Dec. 31, 2022 USD ($) Customer
Lessor Lease Description [Line Items]
Number of customers represent container leaseback financing receivable portfolio | Customer	1	1
Fair value of container leaseback financing receivable | $	$ 743,676	$ 732,951
Customer One
Lessor Lease Description [Line Items]
Percentage of container leaseback financing receivable portfolio	98.50%	97.40%

Leases - Lessee - Additional In

Leases - Lessee - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022	Dec. 31, 2022
Lessee Lease Description [Line Items]
Right-of-use lease assets	$ 5,999		$ 5,999		$ 7,299
Operating Lease, Right-of-Use Asset, Statement of Financial Position [Extensible Enumeration]	Other Assets, Noncurrent		Other Assets, Noncurrent		Other Assets, Noncurrent
Operating lease liabilities	$ 7,572		$ 7,572		$ 9,112
Operating Lease, Liability, Statement of Financial Position [Extensible Enumeration]	Other Liabilities [Member]		Other Liabilities [Member]		Other Liabilities [Member]
Operating lease expense	$ 590	$ 576	$ 1,764	$ 1,726

Allowance for Credit Losses - A

Allowance for Credit Losses - Additional Information (Detail) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2023	Dec. 31, 2022
Financing Receivable Allowance For Credit Losses [Line Items]
Accounts receivable, allowance	$ 1,472	$ 1,582
Finance Leases | Accounts Receivable | Credit Concentration Risk
Financing Receivable Allowance For Credit Losses [Line Items]
Concentration risk percentage	89.50%
Container Leaseback Financing Receivable | Accounts Receivable | Credit Concentration Risk
Financing Receivable Allowance For Credit Losses [Line Items]
Concentration risk percentage	98.50%
Billed
Financing Receivable Allowance For Credit Losses [Line Items]
Accounts receivable, allowance	$ 1,472	1,582
Billed | Finance Leases
Financing Receivable Allowance For Credit Losses [Line Items]
Accounts receivable, allowance	563	586
Unbilled | Finance Leases
Financing Receivable Allowance For Credit Losses [Line Items]
Net investment in finance leases, allowance for credit loss	843	1,279
Unbilled | Container Leaseback Financing Receivable
Financing Receivable Allowance For Credit Losses [Line Items]
Container leaseback financing receivable, allowance for credit losses	$ 50	$ 114

Allowance for Credit Losses - S

Allowance for Credit Losses - Summary of Net Investment in Finance Leases and Container Leaseback Financing Receivable (Detail) - USD ($) $ in Thousands		Sep. 30, 2023	Dec. 31, 2022
Financing Receivable Allowance For Credit Losses [Line Items]
Net investment in finance leases, net	[1]	$ 1,761,883	$ 1,820,036
Finance Leases
Financing Receivable Allowance For Credit Losses [Line Items]
Nine Months Ended September 30, 2023		41,465
2022		123,650
2021		851,833
2020		572,895
2019		124,158
Prior		48,725
Net investment in finance leases, net		1,762,726
Container Leaseback Financing Receivable
Financing Receivable Allowance For Credit Losses [Line Items]
Nine Months Ended September 30, 2023		93,581
2022		488,238
2021		14,079
2020		96,100
2019		185,940
Net investment in finance leases, net		877,938
Tier 1 | Finance Leases
Financing Receivable Allowance For Credit Losses [Line Items]
Nine Months Ended September 30, 2023		38,945
2022		92,916
2021		776,526
2020		541,788
2019		92,750
Prior		34,748
Net investment in finance leases, net		1,577,673
Tier 1 | Container Leaseback Financing Receivable
Financing Receivable Allowance For Credit Losses [Line Items]
Nine Months Ended September 30, 2023		93,581
2022		488,238
2021		11,000
2020		96,100
2019		176,127
Net investment in finance leases, net		865,046
Tier 2 | Finance Leases
Financing Receivable Allowance For Credit Losses [Line Items]
Nine Months Ended September 30, 2023		572
2022		23,367
2021		69,890
2020		29,667
2019		26,509
Prior		13,907
Net investment in finance leases, net		163,912
Tier 2 | Container Leaseback Financing Receivable
Financing Receivable Allowance For Credit Losses [Line Items]
2021		3,079
2019		9,813
Net investment in finance leases, net		12,892
Tier 3 | Finance Leases
Financing Receivable Allowance For Credit Losses [Line Items]
Nine Months Ended September 30, 2023		1,948
2022		7,367
2021		5,417
2020		1,440
2019		4,899
Prior		70
Net investment in finance leases, net		$ 21,141
[1] As of September 30, 2023 and December 31, 2022, the fair value of net investment in finance leases (including the short-term balance) was approximately $ 1,533,656 and $ 1,659,155 , respectively, and was measured using Level 2 inputs.

Income Taxes - Additional Infor

Income Taxes - Additional Information (Detail)	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Income Tax Disclosure [Abstract]
Effective income tax rates	2.20%	2.20%	2.30%	2.20%

Debt Obligation (Detail)

Debt Obligation (Detail) - USD ($) $ in Thousands		9 Months Ended
		Sep. 30, 2023	Dec. 31, 2022
Debt Instrument [Line Items]
Long term debt	[1]	$ 5,206,007	$ 5,539,803
Unamortized debt premiums and discounts		(27,935)	(34,884)
Debt, net of unamortized costs		5,178,071	5,504,919
Debt, net of unamortized costs - current		389,570	377,898
Debt, net of unamortized costs - non-current		4,788,501	5,127,021
TL Revolving Credit Facility
Debt Instrument [Line Items]
Long term debt		$ 1,322,858	$ 1,367,858
Weighted average variable interest rate		6.78%	5.78%
Final Maturity		Aug. 31, 2027
TL 2019 Term Loan
Debt Instrument [Line Items]
Long term debt		$ 118,567	$ 127,293
Weighted average variable interest rate		3.50%	3.50%
Final Maturity		Dec. 31, 2026
TL 2021-1 Term loan
Debt Instrument [Line Items]
Long term debt		$ 56,101	$ 60,314
Weighted average variable interest rate		2.65%	2.65%
Final Maturity		Feb. 29, 2028
TL 2021-2 Term Loan
Debt Instrument [Line Items]
Long term debt		$ 181,098	$ 192,202
Weighted average variable interest rate		2.90%	2.90%
Final Maturity		Oct. 31, 2028
TMCL II Secured Debt Facility
Debt Instrument [Line Items]
Long term debt	[2]	$ 1,180,491	$ 1,239,440
Weighted average variable interest rate	[2]	7%	6%
Final Maturity	[2]	Nov. 30, 2028
TMCL VII 2020-1 Bonds
Debt Instrument [Line Items]
Long term debt		$ 294,076	$ 332,413
Weighted average variable interest rate		3.06%	3.06%
Final Maturity		Aug. 31, 2045
TMCL VII 2020-2 Bonds
Debt Instrument [Line Items]
Long term debt		$ 431,865	$ 476,279
Weighted average variable interest rate		2.26%	2.26%
Final Maturity		Sep. 30, 2045
TMCL VII 2020-3 Bonds
Debt Instrument [Line Items]
Long term debt		$ 160,667	$ 175,750
Weighted average variable interest rate		2.15%	2.15%
Final Maturity		Sep. 30, 2045
TMCL VII 2021-1 Bonds
Debt Instrument [Line Items]
Long term debt		$ 434,983	$ 467,881
Weighted average variable interest rate		1.72%	1.72%
Final Maturity		Feb. 28, 2046
TMCL VII 2021-2 Bonds
Debt Instrument [Line Items]
Long term debt		$ 525,301	$ 564,373
Weighted average variable interest rate		2.27%	2.27%
Final Maturity		Apr. 30, 2046
TMCL VII 2021-3 Bonds
Debt Instrument [Line Items]
Long term debt		$ 500,000	$ 536,000
Weighted average variable interest rate		1.98%	1.98%
Final Maturity		Aug. 31, 2046
[1] The fair value of total debt based on the borrowing rates available to the Company was approximately $ 4,770,107 and $ 5,107,874 at September 30, 2023 and December 31, 2022, respectively, and was measured using Level 2 inputs. Final maturity of the TMCL II Secured Debt Facility is based on the assumption that the facility will not be extended on its associated conversion date.

Debt Obligation (Parenthetical)

Debt Obligation (Parenthetical) (Detail) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Debt Disclosure [Abstract]
Fair value of long-term debt	$ 4,770,107	$ 5,107,874

Debt and Derivative Instrumen_3

Debt and Derivative Instruments - Summary of Outstanding Fixed-Rate and Floating-Rate Debt (Details) $ in Thousands	Sep. 30, 2023 USD ($)
Including impact of derivative instruments [Member]
Debt Instrument [Line Items]
Balance Outstanding	$ 5,206,007
Contractual Weighted Average Interest Rate	3.06%
Fixed-rate debt | Excluding impact of derivative instruments [Member]
Debt Instrument [Line Items]
Balance Outstanding	$ 2,702,658
Contractual Weighted Average Interest Rate	2.31%
Fixed-rate debt | Including impact of derivative instruments [Member]
Debt Instrument [Line Items]
Balance Outstanding	$ 2,702,658
Contractual Weighted Average Interest Rate	2.31%
Floating-rate debt | Excluding impact of derivative instruments [Member]
Debt Instrument [Line Items]
Balance Outstanding	$ 2,503,349
Contractual Weighted Average Interest Rate	6.88%
Hedged floating-rate debt | Including impact of derivative instruments [Member]
Debt Instrument [Line Items]
Balance Outstanding	$ 2,088,369
Contractual Weighted Average Interest Rate	3.28%
Total fixed and hedged debt | Including impact of derivative instruments [Member]
Debt Instrument [Line Items]
Balance Outstanding	$ 4,791,027
Contractual Weighted Average Interest Rate	2.73%
Unhedged floating-rate debt | Including impact of derivative instruments [Member]
Debt Instrument [Line Items]
Balance Outstanding	$ 414,980
Contractual Weighted Average Interest Rate	6.82%

Debt and Derivative Instrumen_4

Debt and Derivative Instruments - Additional Information (Detail) $ in Thousands	9 Months Ended
	Sep. 30, 2023 USD ($)
Debt Instrument [Line Items]
Borrowings outstanding	$ 5,206,007
Designated | Interest Rate Swap
Debt Instrument [Line Items]
Aggregate commitment amount	6,102,658
Estimated amount to be reclassified from AOCI to interest expense	70,942
Designated | Interest Rate Swap | LIBOR | Forward Contracts
Debt Instrument [Line Items]
Borrowing availability under debt facilities	$ 375,929

Summary of Derivative Instrumen

Summary of Derivative Instruments (Detail) $ in Thousands	Sep. 30, 2023 USD ($)
Designated as Hedging Instrument | Interest Rate Swap | Amortizing | SOFR
Derivative [Line Items]
Notional amounts	$ 2,088,369

Summary of Derivative Instrum_2

Summary of Derivative Instruments (Parenthetical) (Detail) - Interest Rate Swap - Designated as Hedging Instrument - SOFR - USD ($) $ in Thousands	1 Months Ended	9 Months Ended
	Feb. 28, 2022	Sep. 30, 2023
Derivative [Line Items]
Derivative term		December 31, 2033
Fixed interest rate on derivative contracts	1.96%
Minimum
Derivative [Line Items]
Fixed interest rate on derivative contracts		0.12%
Maximum
Derivative [Line Items]
Fixed interest rate on derivative contracts		3.84%
Forward Contracts
Derivative [Line Items]
Derivative term	, 2034
Initial notional amount	$ 100,000

Summary of Fair Value of Deriva

Summary of Fair Value of Derivative Instruments on Consolidated Balance Sheet (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Debt Instrument, Fair Value Disclosure [Abstract]
Assets (liabilities), net, Beginning Balances			$ 149,244
Change in derivative instruments designated as cash flow hedges	$ 50,220	$ 54,227	82,459	$ 143,327
Reclassification of realized gain on derivative instruments designated as cash flow hedges	(19,488)	$ (5,061)	(54,452)	$ (766)
Assets (liabilities), net Ending Balances	$ 177,251		$ 177,251

Summary of Pre-tax Impact of De

Summary of Pre-tax Impact of Derivative Instruments on Condensed Consolidated Statements of Operations (Detail) - Designated - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Other comprehensive income
Derivative Instruments Gain Loss [Line Items]
Pre-tax impact of derivative instruments	$ 50,220	$ 54,227	$ 82,459	$ 143,327
Interest income
Derivative Instruments Gain Loss [Line Items]
Pre-tax impact of derivative instruments	$ 19,488	$ 5,061	$ 54,452	$ 766

Segment Information - Additiona

Segment Information - Additional Information (Detail) - Segment	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Segment Reporting [Abstract]
Number of reportable segments	3	3	3	3

Summary of Segment Information

Summary of Segment Information (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022	Dec. 31, 2022
Segment Reporting Information [Line Items]
Total lease rental income	$ 192,497	$ 205,152	$ 579,561	$ 607,102
Trading container margin	306	457	350	1,766
Gain on sale of owned fleet containers, net	5,197	22,788	22,448	61,914
Depreciation	73,686		216,051
Depreciation and amortization	73,686	73,238	216,051	218,688
Container lessee default expense recovery net	1,108	963	1,057	1,518
Interest expense	43,751	41,242	128,019	114,144
Unrealized loss on financial instruments, net		204		326
Segment income (loss) before income taxes	50,769	83,214	168,487	248,133
Income tax (expense) benefit	(1,124)	(1,846)	(3,946)	(5,532)
Total assets	7,306,491	7,797,035	7,306,491	7,797,035	$ 7,613,234
Purchase of containers and fixed assets	27,948	55,569	66,386	250,640
Payments on container leaseback financing receivable			96,005	533,867
Other
Segment Reporting Information [Line Items]
Segment income (loss) before income taxes	(2,589)	(1,164)	(6,411)	(4,210)
Total assets	4,779	10,553	4,779	10,553
Management Fees - Non-Leasing
Segment Reporting Information [Line Items]
Revenue	520	710	1,974	1,915
Management Fees - Non-Leasing | External Customers
Segment Reporting Information [Line Items]
Revenue	520	710	1,974	1,915
Operating Segments | Container Ownership
Segment Reporting Information [Line Items]
Total lease rental income	181,145	191,926	544,521	566,994
Gain on sale of owned fleet containers, net	5,197	22,788	22,448	61,718
Depreciation	75,158		220,460
Depreciation and amortization		74,711		223,173
Container lessee default expense recovery net	1,108	963	1,057	1,518
Interest expense	43,545	41,027	127,410	113,506
Segment income (loss) before income taxes	43,137	68,899	140,846	208,861
Income tax (expense) benefit	(1,477)	(1,930)	(5,148)	(5,541)
Total assets	7,261,279	7,731,085	7,261,279	7,731,085
Purchase of containers and fixed assets	27,948	55,191	66,386	248,143
Payments on container leaseback financing receivable			96,005	533,867
Operating Segments | Container Management
Segment Reporting Information [Line Items]
Total lease rental income	10,600	12,503	32,832	38,105
Depreciation and amortization		432		1,237
Container lessee default expense recovery net	372		1,172
Interest expense	206	215	609	638
Unrealized loss on financial instruments, net		204		326
Segment income (loss) before income taxes	5,259	8,357	18,297	33,220
Income tax (expense) benefit	353	(84)	(1,202)	(9)
Total assets	178,118	171,010	178,118	171,010
Purchase of containers and fixed assets		378		2,497
Operating Segments | Container Resale
Segment Reporting Information [Line Items]
Trading container margin	306	457	350	1,766
Segment income (loss) before income taxes	2,448	4,873	9,600	11,729
Total assets	6,185	10,364	6,185	10,364
Operating Segments | Management Fees - Non-Leasing | Container Management
Segment Reporting Information [Line Items]
Revenue	14,788	16,875	45,708	59,932
Operating Segments | Management Fees - Non-Leasing | Container Management | External Customers
Segment Reporting Information [Line Items]
Revenue	46	53	143	172
Operating Segments | Management Fees - Non-Leasing | Container Resale
Segment Reporting Information [Line Items]
Revenue	2,600	4,576	9,838	10,586
Operating Segments | Management Fees - Non-Leasing | Container Resale | External Customers
Segment Reporting Information [Line Items]
Revenue	474	657	1,831	1,743
Eliminations
Segment Reporting Information [Line Items]
Total lease rental income	752	723	2,208	2,003
Gain on sale of owned fleet containers, net				196
Depreciation	(1,844)		(5,581)
Depreciation and amortization		(1,905)		(5,722)
Segment income (loss) before income taxes	2,514	2,249	6,155	(1,467)
Total assets	(143,870)	(125,977)	(143,870)	(125,977)
Eliminations | Management Fees - Non-Leasing
Segment Reporting Information [Line Items]
Revenue	$ (17,388)	$ (21,451)	$ (55,546)	$ (70,518)

Segment Information Geographic

Segment Information Geographic Allocation of Lease Rental Income and Management Fees (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Segment Reporting Information [Line Items]
Total lease rental income	$ 192,497	$ 205,152	$ 579,561	$ 607,102
Europe
Segment Reporting Information [Line Items]
Total lease rental income	93,489	94,443	279,723	283,378
Asia
Segment Reporting Information [Line Items]
Total lease rental income	90,289	102,207	273,426	297,470
North / South America
Segment Reporting Information [Line Items]
Total lease rental income	8,520	8,481	25,757	25,756
All other international
Segment Reporting Information [Line Items]
Total lease rental income	199	21	655	498
Total Management Fees
Segment Reporting Information [Line Items]
Revenue	1,261	1,618	4,196	4,756
Total Management Fees | Non Leasing From External Customers
Segment Reporting Information [Line Items]
Revenue	520	710	1,974	1,915
Total Management Fees | Non Leasing From External Customers | Europe
Segment Reporting Information [Line Items]
Revenue	290	383	1,139	998
Total Management Fees | Non Leasing From External Customers | North / South America
Segment Reporting Information [Line Items]
Revenue	12	20	52	37
Total Management Fees | Non Leasing From External Customers | Bermuda
Segment Reporting Information [Line Items]
Revenue	211	300	761	854
Total Management Fees | Non Leasing From External Customers | All other international
Segment Reporting Information [Line Items]
Revenue	$ 7	$ 7	$ 22	$ 26

Segment Information Geographi_2

Segment Information Geographic Allocation of Trading Container Sales Proceeds and Gains on Sale of Owned Fleet Containers Net (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Segment Reporting Information [Line Items]
Gain on sale of owned fleet containers, net	$ 5,197	$ 22,788	$ 22,448	$ 61,914
Trading Containers
Segment Reporting Information [Line Items]
Revenue	4,324	5,791	13,139	18,801
Gain on sale of owned fleet containers, net	5,197	22,788	22,448	61,914
North / South America
Segment Reporting Information [Line Items]
Gain on sale of owned fleet containers, net	1,174	5,241	6,372	11,942
North / South America | Trading Containers
Segment Reporting Information [Line Items]
Revenue	2,909	2,901	8,231	8,525
Asia
Segment Reporting Information [Line Items]
Gain on sale of owned fleet containers, net	3,294	15,623	13,866	40,450
Asia | Trading Containers
Segment Reporting Information [Line Items]
Revenue	1,139	2,602	3,986	8,574
Europe
Segment Reporting Information [Line Items]
Gain on sale of owned fleet containers, net	729	1,924	2,210	9,522
Europe | Trading Containers
Segment Reporting Information [Line Items]
Revenue	$ 276	$ 288	$ 922	$ 1,702

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Detail) - USD ($)	Sep. 30, 2023	Dec. 31, 2022
Commitments And Contingencies Disclosure [Line Items]
Restricted cash	$ 90,033,000	$ 102,591,000
Containers orders placed	0
Fleet Management Agreements
Commitments And Contingencies Disclosure [Line Items]
Future minimum lease payment obligations	$ 0

Shareholders' Equity - Addition

Shareholders' Equity - Additional Information (Detail) - USD ($)	9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Mar. 31, 2024	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2020	Dec. 31, 2019
Equity Class Of Treasury Stock [Line Items]
Increase in common stock repurchase program, authorized amount						$ 425,000,000
Purchase of treasury shares (in shares)	3,411,296	4,093,505
Common stock repurchased, average price per share	$ 36.4	$ 32.68
Purchase of treasury shares	$ 124,160,000	$ 133,775,000
Redemption description	Each Series of preferred shares may be redeemed at the Company’s option, at any time after approximately five years from original issuance, for cash at a redemption price of $25.00 per depositary share plus an amount equal to all accumulated and unpaid dividends, whether or not declared.
Redemption price per depositary share	$ 25
Preferred stock shares, liquidation preference per share	$ 25,000				$ 25,000
Cumulative unpaid preferred dividends	$ 854,000
Forecast
Equity Class Of Treasury Stock [Line Items]
Common stock repurchased program, amount remained available for repurchase			$ 0
Subsequent Event
Equity Class Of Treasury Stock [Line Items]
Increase in common stock repurchase program, authorized amount				$ 100,000,000
RSU
Equity Class Of Treasury Stock [Line Items]
Accrued dividends	$ 1,210,000
Maximum
Equity Class Of Treasury Stock [Line Items]
Common stock repurchased program, authorized amount							$ 25,000,000

Shareholders' Equity - Summary

Shareholders' Equity - Summary of Preferred Share Issuances (Detail) - USD ($) $ in Thousands		1 Months Ended		9 Months Ended
		Aug. 31, 2021	Apr. 30, 2021	Sep. 30, 2023
Class Of Stock [Line Items]
Number of Depositary Shares Issued and Outstanding	[1]			12,000,000
Liquidation Preference				$ 300,000
Underwriting Discounts				10,420
Net Proceeds				$ 289,580
Series A
Class Of Stock [Line Items]
Date of Issuance	[2]		2021-04
Number of Depositary Shares Issued and Outstanding	[1],[2]		6,000,000
Liquidation Preference	[2]		$ 150,000
Underwriting Discounts	[2]		5,292
Net Proceeds	[2]		$ 144,708
Series B
Class Of Stock [Line Items]
Date of Issuance	[3]	2021-08
Number of Depositary Shares Issued and Outstanding	[1],[3]	6,000,000
Liquidation Preference	[3]	$ 150,000
Underwriting Discounts	[3]	5,128
Net Proceeds	[3]	$ 144,872
[1] Each depositary share representing a 1/1,000 th interest in a preferred share, $ 25,000 liquidation preference per share (equivalent to $ 25.00 per depositary share). Series A have no maturity date and are redeemable from June 15, 2026 by the Company. Series B have no maturity date and are redeemable from December 15, 2026 by the Company.

Shareholders' Equity - Summar_2

Shareholders' Equity - Summary of Preferred Share Issuances (Parenthetical) (Detail) - $ / shares	1 Months Ended		9 Months Ended	12 Months Ended
	Aug. 31, 2021	Apr. 30, 2021	Sep. 30, 2023	Dec. 31, 2022
Class Of Stock [Line Items]
Preferred stock shares, liquidation preference per share			$ 25,000	$ 25,000
Depositary per share equivalent to liquidation preference per share			$ 25	$ 25
Series A
Class Of Stock [Line Items]
Dividend rate		7%
Preferred shares redeemable date		Jun. 15, 2026
Series B
Class Of Stock [Line Items]
Dividend rate	6.25%
Preferred shares redeemable date	Dec. 15, 2026

Shareholders' Equity - Summar_3

Shareholders' Equity - Summary of Company's Board of Directors Approved and Declared a Quarterly Preferred Cash Dividend (Detail) - USD ($) $ / shares in Units, $ in Thousands		3 Months Ended		9 Months Ended
		Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Class Of Stock [Line Items]
Aggregate Payment		$ 4,968	$ 4,968	$ 14,906	$ 14,906
Series A
Class Of Stock [Line Items]
Aggregate Payment		$ 2,625	$ 2,625	$ 7,875	$ 7,875
Per Depositary Share Payment	[1]	$ 0.44	$ 0.44	$ 0.44	$ 0.44
Series B
Class Of Stock [Line Items]
Aggregate Payment		$ 2,343	$ 2,343	$ 7,031	$ 7,031
Per Depositary Share Payment	[1]	$ 0.39	$ 0.39	$ 0.39	$ 0.39
[1] Rounded to the nearest whole cent.

Shareholders' Equity - Summar_4

Shareholders' Equity - Summary of Company's Board of Directors Approved and Declared Cash Dividends (Detail) - Common Share - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Class Of Stock [Line Items]
Aggregate Payment	$ 12,212	$ 11,420	$ 37,610	$ 35,278
Per Share Payment	$ 0.3	$ 0.25	$ 0.3	$ 0.25

Share-Based Compensation - Addi

Share-Based Compensation - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Share-based compensation expense			$ 6,936	$ 5,315
Unrecognized share-based compensation expense	$ 9,022		9,022
General and Administrative Expense
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Share-based compensation expense	2,282	$ 1,726	6,636	5,051
Stock Options and Restricted Stock Units
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Share-based compensation expense	$ 2,386	$ 1,817	$ 6,936	$ 5,315

Reconciliation of Numerator and

Reconciliation of Numerator and Denominator of Basic Earnings per Share ("EPS") with that of Diluted EPS (Detail) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Numerator:
Net income attributable to common shareholders	$ 44,677	$ 76,400	$ 149,635	$ 227,695
Denominator:
Weighted average common shares outstanding - basic	40,886	45,896	41,980	47,252
Dilutive share options, RSU and PSU	1,027	811	898	840
Weighted average common shares outstanding - diluted	41,913	46,707	42,878	48,092
Net income attributable to common shareholders per common share:
Basic	$ 1.09	$ 1.66	$ 3.56	$ 4.82
Diluted	$ 1.07	$ 1.64	$ 3.49	$ 4.73
Share options, RSU and PSU excluded from the computation of diluted EPS because they were anti-dilutive	0	285	105	303

Subsequent Events - Additional

Subsequent Events - Additional Information (Detail) - Subsequent Event $ / shares in Units, $ in Thousands	Oct. 31, 2023 USD ($) $ / shares
Subsequent Event [Line Items]
Common stock, dividends, per share, declared	$ 0.3
Series A Preferred Shares
Subsequent Event [Line Items]
Preferred cash dividend per depositary share	$ 0.44
Preferred cash dividend per depositary share total aggregate amount payable | $	$ 2,625
Series B Preferred Shares
Subsequent Event [Line Items]
Preferred cash dividend per depositary share	$ 0.39
Preferred cash dividend per depositary share total aggregate amount payable | $	$ 2,344