TRAC Intermodal 10-K 4 Mar 16 2015 FY Annual report Financial data

Document and Entity Information

Document and Entity Information	12 Months Ended
	Dec. 31, 2015USD ($)shares
Document and Entity Information
Entity Registrant Name	TRAC Intermodal LLC
Entity Central Index Key	1,570,774
Document Type	10-K
Document Period End Date	Dec. 31, 2015
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Filer Category	Non-accelerated Filer
Entity Public Float | $	$ 0
Entity Common Stock, Shares Outstanding | shares	0
Document Fiscal Year Focus	2,015
Document Fiscal Period Focus	FY

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Assets
Cash and cash equivalents	$ 3,161	$ 4,256
Accounts receivable, net of allowances of $12,454 and $19,030, respectively	110,662	135,076
Net investment in direct finance leases	12,797	16,215
Leasing equipment, net of accumulated depreciation of $452,962 and $400,408, respectively	1,435,978	1,436,909
Goodwill	251,907	251,907
Other assets	32,991	20,399
Total assets	1,847,496	1,864,762
Liabilities
Accounts payable	13,593	14,781
Accrued expenses and other liabilities	75,340	74,449
Deferred income taxes, net	127,580	102,467
Debt and capital lease obligations:
Due within one year	41,396	30,546
Due after one year	1,039,283	1,133,676
Total debt and capital lease obligations	1,080,679	1,164,222
Less unamortized debt issuance costs	18,350	21,555
Total debt and capital lease obligations less debt issuance costs	1,062,329	1,142,667
Total liabilities	$ 1,278,842	$ 1,334,364
Commitments and contingencies (Note 9)
Member's interest:
Member's interest	$ 586,757	$ 559,015
Accumulated other comprehensive loss	(18,103)	(28,617)
Total member's interest	568,654	530,398
Total liabilities and member's interest	$ 1,847,496	$ 1,864,762

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Consolidated Balance Sheets
Accounts receivable, allowance	$ 12,454	$ 19,030
Leasing equipment, accumulated depreciation	$ 452,962	$ 400,408

Consolidated Statements of Oper

Consolidated Statements of Operations - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Revenues:
Equipment leasing revenue	$ 661,247	$ 588,287	$ 472,571
Finance revenue	1,536	2,111	3,254
Other revenue	28,641	36,590	39,419
Total revenue	691,424	626,988	515,244
Expenses:
Direct operating expenses	377,715	333,135	289,767
Selling, general and administrative expenses	91,279	84,346	58,031
Depreciation expense	72,128	72,114	71,791
(Recovery) provision for doubtful accounts	(258)	14,007	11,369
Impairment of leasing equipment	7,277	5,855	5,857
Early retirement of leasing equipment		37,766
Loss on modification and extinguishment of debt and capital lease obligations	19,852	315	904
Interest expense	80,246	86,837	91,085
Interest income	(19)	(61)	(287)
Other income, net	(1,394)	(925)	(2,074)
Total expenses	646,826	633,389	526,443
Income (loss) before provision (benefit) for income taxes	44,598	(6,401)	(11,199)
Provision (benefit) for income taxes	17,880	(3,445)	18,154
Net income (loss)	$ 26,718	$ (2,956)	$ (29,353)

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income (Loss) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Consolidated Statements of Comprehensive Income (Loss)
Net income (loss)	$ 26,718	$ (2,956)	$ (29,353)
Unrealized (loss) gain on derivative instruments, net of tax of $601, $585 and $(1,313), respectively	(923)	(899)	2,020
Derivative loss reclassified into earnings, net of tax of $(7,920), $(7,265) and $(7,774), respectively	12,257	11,025	12,204
Foreign currency translation (loss), net of tax of $636, $364 and $398, respectively	(820)	(395)	(596)
Total other comprehensive income, net of tax	10,514	9,731	13,628
Total comprehensive income (loss)	$ 37,232	$ 6,775	$ (15,725)

Consolidated Statements of Com6

Consolidated Statements of Comprehensive (Loss) Income (Parenthetical) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Consolidated Statements of Comprehensive Income (Loss)
Unrealized loss on derivative instruments, tax	$ 601	$ 585	$ (1,313)
Derivative loss reclassified into earnings, tax	(7,920)	(7,265)	(7,774)
Foreign currency translation, tax	$ 636	$ 364	$ 398

Consolidated Statements of Memb

Consolidated Statements of Member's Interest - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Increase (Decrease) in Members' Interest
Balance	$ 530,398	$ 523,658	$ 538,907
Repurchase of shares from employees	(594)	(858)	(820)
Share based compensation	625	810	1,181
Contribution from affiliate		13	42
Sale of Investment in indirect parent	993
Excess tax benefits restricted shares			73
Net income (loss)	26,718	(2,956)	(29,353)
Other comprehensive income	10,514	9,731	13,628
Balance	568,654	530,398	523,658
Member's Interest
Increase (Decrease) in Members' Interest
Balance	559,015	562,006	590,883
Repurchase of shares from employees	(594)	(858)	(820)
Share based compensation	625	810	1,181
Contribution from affiliate		13	42
Sale of Investment in indirect parent	993
Excess tax benefits restricted shares			73
Net income (loss)	26,718	(2,956)	(29,353)
Balance	586,757	559,015	562,006
Accumulated Other Comprehensive Loss
Increase (Decrease) in Members' Interest
Balance	(28,617)	(38,348)	(51,976)
Other comprehensive income	10,514	9,731	13,628
Balance	$ (18,103)	$ (28,617)	$ (38,348)

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Cash flows from operating activities
Net income (loss)	$ 26,718	$ (2,956)	$ (29,353)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Depreciation and amortization	72,227	72,365	72,026
(Recovery) provision for doubtful accounts	(258)	14,007	11,369
Amortization of deferred financing fees	6,760	6,763	6,183
Loss on modification and extinguishment of debt and capital lease obligations	19,852	315	904
Derivative loss reclassified into earnings	20,177	18,290	19,978
Ineffective portion of cash flow hedges	(85)	(84)	(82)
Impairment of leasing equipment	7,277	5,855	5,857
Early retirement of leasing equipment		37,766
Share-based compensation	625	810	1,181
Deferred income taxes, net	19,123	(4,351)	18,080
Other, net	(1,320)	(928)	(1,340)
Changes in assets and liabilities:
Accounts receivable	24,405	(35,264)	(43,888)
Other assets	(906)	(1,013)	(36)
Accounts payable	(1,188)	2,689	1,822
Accrued expenses and other liabilities	(12,072)	24,285	4,055
Net cash provided by operating activities	181,335	138,549	66,756
Cash flows from investing activities
Proceeds from sale of leasing equipment	11,528	8,265	7,066
Collections on net investment in direct finance leases, net of interest earned	3,665	4,622	5,706
Proceeds from sale of other assets, net of other investing activities	2,056
Purchase of leasing equipment	(75,357)	(149,376)	(141,113)
Purchase of fixed assets	(16,920)	(4,999)	(4,225)
Net cash used in investing activities	(75,028)	(141,488)	(132,566)
Cash flows from financing activities
Proceeds from long-term debt	1,179,194	148,000	142,000
Repayments of long term debt	(1,263,736)	(148,292)	(87,290)
Cash paid for debt issuance fees	(9,999)	(3,156)	(2,267)
Premium paid for redemption of notes	(12,375)
Sale of investment in indirect parent	993
Excess tax benefits restricted shares			73
Repurchase of shares from employees	(594)	(858)	(820)
Net cash (used in) provided by financing activities	(106,517)	(4,306)	51,696
Effect of changes in exchange rates on cash and cash equivalents	(885)	(342)	(599)
Net (decrease) increase in cash and cash equivalents	(1,095)	(7,587)	(14,713)
Cash and cash equivalents, beginning of year	4,256	11,843	26,556
Cash and cash equivalents, end of period	3,161	4,256	11,843
Supplemental disclosures of cash flow information
Cash paid for interest	58,894	61,609	65,957
Cash (refunded) paid for taxes, net	$ (854)	$ 1,136	$ 763

Description of the Business and

Description of the Business and Basis of Presentation	12 Months Ended
	Dec. 31, 2015
Description of the Business and Basis of Presentation
Description of the Business and Basis of Presentation	1. Description of the Business and Basis of Presentation TRAC Intermodal LLC (the "Company" or "TRAC") is an intermodal chassis solutions provider for domestic and international transportation companies in North America. Its principal business is providing marine and domestic chassis on both long and short-term leases or rental agreements to a diversified customer base including the world's leading shipping lines, Class I railroads, major U.S. intermodal transportation companies and motor carriers. The Company's fleet of equipment consists of marine and domestic chassis. These assets are owned, leased-in or managed by TRAC on behalf of third-party owners in pooling arrangements. As of December 31, 2015, the Company owned, leased-in or managed a fleet of approximately 311,375 chassis and units available for remanufacture. The net book value of the Company's owned equipment was approximately $1.45 billion. TRAC is a Delaware limited liability company and TRAC Intermodal Corp. is a Delaware corporation, both of which were formed on July 12, 2012 to facilitate the issuance of $300,000 aggregate principle amount of 11% Senior Secured Notes (the "Original Notes"). The Company conducts its business through its 100% owned subsidiary, Interpool, Inc. ("Interpool") and its consolidated subsidiaries. To date, neither the Company nor TRAC Intermodal Corp. have conducted any activities other than those incidental to their formation and the preparation of the offering memorandum relating to the Original Notes and a prospectus relating to the exchange of the Original Notes for notes which have been registered under the Securities Act of 1933, as amended (the "Securities Act") pursuant to the terms set forth in the prospectus (the "Exchange Notes" and together with the Original Notes, the "Notes"). The Company has no operations of its own so it is dependent upon the cash flows of its subsidiaries to meet its obligations under the Notes. Since the proceeds from the Original Notes were used to repay debt owed by Interpool, an intercompany note was entered into between TRAC and Interpool with terms identical to the Notes. The proceeds from the intercompany note arrangement with Interpool provides the funds for TRAC to service the interest and debt payments due under the Notes. Interpool, headquartered in Princeton, New Jersey, is a private company wholly owned by TRAC, which is ultimately owned by Seacastle Inc. ("Seacastle"). Seacastle is owned by private equity funds that are managed by an affiliate of Fortress Investment Group LLC ("Fortress") and by employees of affiliates of Seacastle. Interpool was founded in 1968 as an operating lessor servicing the intermodal transportation equipment industry. Interpool was listed on The New York Stock Exchange as a public company in 1993 and was acquired and taken private by Seacastle in July 2007. The accompanying Consolidated Financial Statements of TRAC and subsidiaries (the "Consolidated Financial Statements") have been prepared in accordance with accounting principles generally accepted in the United States ("U.S. GAAP"). The Company and its subsidiaries conduct business principally in one industry, the leasing of intermodal transportation equipment. The Company has two reportable segments, the Marine Market segment and the Domestic Market segment. The Marine Market and Domestic Market segments provide marine and domestic chassis to the world's leading shipping lines, motor carriers, major U.S. intermodal transportation companies and Class 1 railroads. The Company purchases equipment directly from manufacturers and shipping lines as well as through lease agreements, some of which qualify as capital leases. Primarily all of the Company's revenues and long-lived assets are attributable to the United States. For the years ended December 31, 2015, 2014 and 2013, approximately 58%, 62% and 70%, respectively, of the Company's total revenues were earned from its top 25 customers. Beginning in 2011 and continuing to the present, certain of the Company's shipping line customers changed to a business model in which they no longer provide chassis to motor carriers. Therefore, the Company is leasing marine chassis directly to over 3,600 motor carriers whose per diem billing rates are generally higher than that of shipping lines and railroad customers. Motor carrier billings represented approximately 56%, 48% and 25% of the Company's total revenues for the years ended December 31, 2015, 2014 and 2013, respectively. As more shipping lines adopt this new business model, the Company anticipates growth in both the number of motor carrier customers and related billings.

Summary of Significant Accounti

Summary of Significant Accounting Policies	12 Months Ended
	Dec. 31, 2015
Summary of Significant Accounting Policies
Summary of Significant Accounting Policies	2. Summary of Significant Accounting Policies Principles of Consolidation The Company's Consolidated Financial Statements include the accounts of the Company and its subsidiaries, all of which are 100% owned. All significant intercompany transactions have been eliminated in consolidation. Use of Estimates The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts and classification of assets and liabilities, and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenue and expense during the reporting period. Actual results may differ materially from those estimates. Risk and Uncertainties In the normal course of business, the Company encounters two significant types of economic risk: credit and market. Credit risk is the risk of a lessee's inability or unwillingness to make contractually required payments. The Company is subject to concentrations of credit risk with respect to amounts due from customers. The Company attempts to limit its credit risk by performing ongoing credit evaluations and, when deemed necessary, requires letters of credit, guarantees or collateral. For the years ended December 31, 2015, 2014 and 2013, the Company earned approximately 41%, 45% and 52% of revenues from its top ten customers, respectively. The Company's largest customer accounted for approximately 7%, 6% and 7% of total revenues in 2015, 2014 and 2013, respectively. These revenues are included in the Domestic Market segment for 2015 and the Marine Market segment for 2014 and 2013. Based on balances due at December 31, 2015, the maximum amount of loss the Company would incur if this customer failed completely to perform according to the terms of their contracts would be $4,526. While the Company believes that it has properly reserved for uncollectible accounts receivable, it is possible that the Company may experience longer collection cycles. Although the Company is not dependent on any one customer for more than 7% of its revenue, deterioration in credit quality of several of the Company's major customers could have an adverse effect on its consolidated financial position and operating results. Management does not believe significant risk exists in connection with the Company's concentrations of credit as of December 31, 2015. The Company also has a concentration of credit within its direct finance lease portfolio. The Company's top three customers account for $12,197, $14,592 and $21,893 of the outstanding principal at December 31, 2015, 2014 and 2013, respectively which represents approximately 95%, 90% and 87% of the outstanding principal in those years. The Company does not record an allowance for credit losses associated with direct finance leases. If any of these customers were to default, the Company would seek to recover the equipment securing the lease, often at fair market values in excess of the remaining receivable. Historically, the Company has not experienced losses related to direct finance leases and does not project future uncollectible amounts related to the principal balances receivable. Market risk reflects the change in the value of derivatives and financings due to changes in interest rate spreads or other market factors, including the value of collateral underlying debt investments and financings. The Company believes that the carrying values of its investments and derivative obligations are reasonable taking into consideration these risks, along with estimated collateral values, payment histories and other relevant financial information. Cash and Cash Equivalents Cash and cash equivalents include all cash balances and highly liquid investments having original maturities of three months or less at the time of purchase. These instruments are stated at cost, which approximates market value because of the short-term nature of the instruments. Direct Finance Leases Direct finance leases are recorded at the aggregated future minimum lease payments, including any bargain or economically compelled purchase options granted to the customer, less unearned income. The Company generally bears greater risk in operating lease transactions (versus direct finance lease transactions) due to redeployment costs and related risks that are shifted to the lessee under a direct finance lease. Management performs annual reviews of the estimated residual values which can vary depending on a number of factors. Leasing Equipment Leasing equipment is primarily comprised of marine and domestic chassis. All equipment is recorded at cost and depreciated to an estimated residual value on a straight-line basis over the estimated useful life of the equipment. Estimated useful lives and residual values have been principally determined based on the Company's historical disposal and utilization experience. The estimated useful lives and average residual values for the Company's Leasing equipment from the date of manufacture are as follows: Useful Lives (Years) Residual Values (in Dollars) Chassis 20.0 - 22.5 $ The Company will continue to review its depreciation policies on a regular basis to determine whether changes have taken place that would suggest that a change in its depreciation policies, useful lives of its equipment or the assigned residual values is warranted. The Company recognizes repair and maintenance costs that do not extend the lives of the assets as incurred and includes such costs in Direct operating expenses in the Consolidated Statements of Operations. Also included in Depreciation of leasing equipment is the depreciation on assets recorded under capital leases. Remanufacture / Refurbishment of Leasing Equipment Chassis are long-lived assets, with an economic life of approximately 20 years for domestic chassis and 22.5 years for marine chassis. Older chassis can generally be remanufactured at the end of their useful life to provide 20 or more additional years of service rather than be replaced by new equipment. Remanufacturing provides a material cash savings compared to the cost of purchasing a new chassis. The remanufacturing process can bring an aged chassis up to a "like new" condition, and customers typically do not differentiate between new and remanufactured chassis. In addition to the cost savings, an additional benefit is that an older chassis can be remanufactured into any size unit, which provides excellent flexibility to meet demands of different equipment types as the market changes. Remanufacturing costs are capitalized and depreciated over the new useful life of the equipment. Remanufacturing costs capitalized totaled $41,211, $40,214 and $4,038 for the years ended December 31, 2015, 2014 and 2013, respectively. Alternatively, chassis meeting certain age and condition criteria can be refurbished. Refurbishments reflect improvements that go beyond preventive maintenance and normal repairs, thus serving to increase the cash flow generating capability of the refurbished asset. Cash flows are enhanced through extending the useful life of the asset or otherwise altering its structural state to be more marketable. Refurbishment costs are capitalized and depreciated over the remaining / extended useful life of the equipment. Refurbishment costs capitalized totaled $12,701, $2,712 and $3,124 for the years ended December 31, 2015, 2014 and 2013, respectively. Impairment of Leasing Equipment In accordance with the Property, Plant and Equipment Topic of the Financial Accounting Standards Board, Accounting Standards Codification , (the "FASB ASC"), the Company reviews its leasing assets for impairment when events or changes in circumstances indicate that the carrying amount of the asset group as a whole may not be recoverable. If indicators of impairment are present, a determination is made as to whether the carrying value of the Company's fleet exceeds its estimated future undiscounted cash flows. Impairment exists when the carrying value of leasing assets taken as a whole exceeds the sum of the related undiscounted cash flows. The Company's review for impairment includes considering the existence of impairment indicators including third-party appraisals of its equipment, adverse changes in market conditions or the future utility of specific long-lived assets, shrinkage and the occurrence of significant adverse changes in general industry and market conditions that could affect the fair value of its equipment. When indicators of impairment suggest that the carrying value of its leasing assets may not be recoverable, the Company determines whether the impairment recognition criteria have been met by evaluating whether the carrying value of the leasing assets taken as a whole exceeds the related undiscounted future cash flows expected to result from the use and eventual disposition of the asset group. The preparation of the related undiscounted cash flows requires the use of assumptions and estimates, including the level of future rents, and the residual value expected to be realized upon disposition of the assets, estimated downtime between re-leasing events and the amount of re-leasing costs. If the Company determines that the carrying value may not be recoverable, it will assess the fair value of the assets. In determining the fair value of the assets, the Company considers market trends, published values for similar assets, recent transactions of similar assets and quotes from third-party appraisers. If the carrying amount of an asset group exceeds its fair value, an impairment charge is recognized in the amount by which the carrying amount of the asset group exceeds the fair value of the asset group. Property and Equipment Property and equipment is recorded at cost less accumulated depreciation. In accordance with the Property, Plant and Equipment Topic of the FASB ASC, the Company reduces the carrying amount for property and equipment that has been impaired to the estimated fair value at the impairment date. Property and equipment is included in Other assets in the Consolidated Balance Sheets. The Company capitalizes significant improvements and the Company charges repairs and maintenance costs that do not extend the lives of the assets to expense as incurred. The Company removes the cost and accumulated depreciation of assets sold or otherwise disposed of from the accounts and recognizes any resulting gain or loss upon the disposition of the assets. The Company depreciates the cost of property and equipment over their estimated useful lives on a straight-line basis as follows: buildings—40 years; furniture and fixtures—3 to 7 years; computers and office equipment—3 to 5 years; capitalized development costs for internal use software—7 years; and other property and equipment—3 to 10 years. Capitalized Software In accordance with FASB ASC Topic 350-40 "Internal Use Software", the Company capitalizes certain computer software and software development costs incurred in connection with developing or obtaining computer software for internal use when both the preliminary project stage is completed and it is probable that the software will be used as intended. Capitalized software costs include only (i) external direct costs of materials and services utilized in developing or obtaining computer software, (ii) compensation and related benefits for employees who are directly associated with the software project and (iii) interest costs incurred while developing internal-use computer software. Capitalized software costs are included in Other assets in the Consolidated Balance Sheets and amortized on a straight-line basis when placed into service over the estimated useful lives of the software, approximately 7 years. Goodwill Goodwill represents the excess of purchase price and related costs over the value assigned to the net tangible and identifiable intangible assets of businesses acquired. In accordance with the Intangibles—Goodwill and Other Topic of the FASB ASC, goodwill is not amortized, but instead is tested for impairment at the reporting unit level annually or more frequently if events or changes in circumstances indicate that the asset might be impaired. Management has determined that there are two reporting units, the Marine Market segment and the Domestic Market segment. For the purpose of testing goodwill for impairment, the goodwill balance has been assigned to these two reporting units using a relative fair value allocation approach. The Company evaluates the recoverability of goodwill using a two-step impairment test approach. In the first step, the reporting units' fair value is compared to its carrying value including goodwill. Fair value of the reporting unit is estimated using a discounted cash flow analysis which is based on current operating budgets and long-range projections. The assumptions for the projections are based on management's historical experience, as well as their future expectations of market conditions. Estimated cash flows are discounted based on market comparable weighted-average cost of capital rates derived from the capital asset pricing model. The inputs to the model were primarily derived from publicly available market data. Although management uses the best estimates available, if actual results fall below the estimated budgets and long range projections used for the fair value calculation or cost of capital rates differ from the inputs used to calculate discounted cash flow, a different outcome could result. If the fair value of the reporting unit is less than the carrying value, a second step is performed which compares the implied fair value of the reporting units' goodwill to the carrying value of the goodwill. The implied fair value of the goodwill is determined based on the difference between the fair value of the reporting unit and the net fair value of the identifiable assets and liabilities. If the implied fair value of the goodwill is less than the carrying value, the difference is recognized as an impairment charge. Comprehensive Income (Loss) Comprehensive income (loss) consists of net income (loss) and other gains and losses, net of tax, if any, affecting Member's interest that, under U.S. GAAP, are excluded from net income. Such amounts include the changes in the fair value of derivative instruments, reclassification into earnings of amounts previously deferred relating to derivative instruments and foreign currency translation gains and losses primarily relating to the Company's Canadian and Mexican operations. Share-Based Compensation Certain key employees are the recipients of employment agreements that have restricted stock benefits. The Company has recognized compensation expense relating to these share-based awards in the Consolidated Statements of Operations based upon the fair value of the equity instruments at the time they were issued. The Company uses a straight-line method of accounting for the compensation expense on share-based payment awards that contain pro rata vesting provisions with the compensation expense recognized as of any date being at least equal to the portion of the grant-date fair value that is vested at that date. The Company expects to settle with affiliates all management fees, including these awards, in cash. Such employment agreements also provide for additional grants of restricted stock upon the achievement by the Company of certain performance conditions or a certain market condition following a liquidity event. The grant-date fair value of these awards would be recognized as compensation expense over the implicit service period once it is probable that the performance conditions will be achieved. Foreign Currency Translation The net assets and results of operations of the Company's foreign operations (primarily Canada) have been translated at the rates of exchange in effect at the respective period end for the Consolidated Balance Sheets and at a weighted-average of the exchange rates for the respective period for the Consolidated Statements of Operations. The effects of changes in exchange rates in translating the financial statements of foreign subsidiaries are included in the Consolidated Statements of Comprehensive Income and in Accumulated other comprehensive loss ("AOCI") on the Consolidated Balance Sheets. The Company has determined that the U.S. dollar is its functional currency; therefore, all gains and losses resulting from translating foreign currency transactions into the functional currency are included in income. Management Services In addition to leasing equipment, which the Company owns or finances through capital lease obligations, the Company's customers are turning to outside service companies to help them manage chassis that they own and lease. The Company offers management services through an internally developed proprietary software system, known as "PoolStat®". During the period that the Company is managing the equipment for its customers, the Company earns a management fee. This fee income is recognized as services are rendered and is included in Other revenue in the Consolidated Statements of Operations. Derivative Instruments and Hedging Activities The Company accounted for derivative instruments in accordance with the Derivatives and Hedging Topic of the FASB ASC. The FASB ASC requires that all derivative instruments be recorded on the balance sheet at their fair value and establishes criteria for both the designation and effectiveness of hedging activities. The Company had entered into derivative instruments in the form of interest rate swaps, which were used to reduce its interest rate risk. Through these interest rate swaps, the Company received floating rate payments in exchange for fixed rate payments, effectively converting its floating rate debt to a fixed rate. As a matter of policy, the Company does not enter into derivative instruments for speculative purposes. The manner in which a derivative instrument is recorded depends on whether it qualifies for hedge accounting. The Company applied hedge accounting and designated and accounted for its interest rate swap contracts as cash flow hedges. For effective cash flow hedges, changes in fair value were deferred and recorded in AOCI in the Consolidated Balance Sheets. The ineffective portion of cash flow hedges was recognized in earnings immediately and recorded in Interest expense in the Consolidated Statements of Operations. On August 9, 2012, in connection with the closing of the sale of the Original Notes and the asset based senior secured credit agreement (the "ABL Facility") and the repayment of the $630,000 senior secured credit agreement with BNP Paribas CC, Inc. (f/k/a Fortis Capital Corp.) and a group of lenders with Fortis acting as the agent entered into on July 10, 2008 (the "Fortis Facility"), the Company terminated all of its interest rate derivatives. Balances in Accumulated other comprehensive loss for terminated derivatives are being reclassified into earnings over the remaining life of the item previously hedged. Terminated interest rate derivatives are reviewed periodically to determine if the forecasted transactions remain probable of occurring. If the forecasted transactions were deemed remote, the related portion of the gain or loss associated with the terminated derivative included in AOCI would be recognized in the Consolidated Statement of Operations immediately. On January 10, 2013, the Company entered into an interest rate swap transaction with Deutsche Bank AG. See also Notes 8, 11, 16 and 18 for further information. Revenue Recognition The Company's primary sources of equipment leasing revenue are derived from operating leases and revenue earned on direct finance leases. Revenue Recognition—Equipment Leasing Revenue The Company generates equipment leasing revenue through short-term and long-term operating leases, principally with shipping lines and North American rail and trucking companies. In the majority of its transactions, the Company acts as the lessor of leasing equipment for a specified period of time and at a specified per diem rate. Revenue is recognized on a straight-line basis over the life of the respective lease for term leases. Subscription agreements typically contain periodic pricing and minimum chassis usage reset features. Revenue associated with such agreements is recognized on a straight line basis for committed quantities at contractual rates. Revenue Recognition—Finance Revenue The Company enters into direct finance leases as lessor of equipment that it owns. In most instances, the leases include a bargain purchase option which allows the customer to purchase the leased equipment at the end of the lease term. Net investment in direct finance leases represents the receivables due from lessees, net of unearned income. The lease payments are segregated into principal and interest components similar to a loan. Unearned income is recognized on an effective interest basis over the life of the lease term and is recorded as Finance revenue in the Consolidated Statements of Operations. The principal component of the lease payment is reflected as a reduction to the Net investment in direct finance leases. Revenue Recognition—Other Revenue Other revenue includes fees that the Company's customers are contractually obligated to pay to return equipment to a leasable condition, fees for third-party positioning of equipment and scrap revenue generated from end of life chassis. When a lessee leases equipment from the Company, the lessee is contractually obligated to return the equipment in a leasable condition according to predetermined standards. Upon redelivery of the units, the Company charges the lessee for the expected cost to repair the equipment based on a repair survey performed at the depot. The Company charges the lessee based on this estimate and records maintenance and repair revenue at that time. In accordance with the Revenue—Revenue Recognition—Principal Agent Considerations Topic of the FASB ASC, the Company recognizes billings to customers for damages incurred and certain other pass-through costs as Other revenue in the Consolidated Statements of Operations. The Company recognizes gross revenues from these pass-through costs as the Company is the primary obligor with respect to purchasing goods and services from third parties. The Company generally has the discretion in selection of the repair service provider and the Company generally has the credit risk because the services are purchased prior to reimbursement being received. In addition, Other revenue includes fees earned for providing chassis pool management services. Revenue is recognized as services are rendered. Direct Operating Expenses Direct operating expenses are primarily related to costs incurred in relation to leasing equipment that is not being leased to a third-party and for equipment in the Company's chassis pools. These expenses primarily consist of costs to repair and maintain the equipment, to store the equipment when it is not on lease, to reposition the equipment for pick-up by a customer, and equipment rental related costs to meet customer demand. Costs to reposition the equipment incurred prior to the initial lease of the equipment are capitalized as a cost of the asset acquisition. Provision for Doubtful Accounts The Company determines the provision for doubtful accounts based on its assessment of the collectability of its receivables. The Company identifies these accounts based on two methods: (1) a customer-by-customer basis and (2) an allowance method. In the first method, the Company reviews certain accounts based on size, payment history and third-party credit reports and places a likelihood of default percentage on each account individually. For the remaining receivable balance, the Company applies a delinquency factor based on prior history which represents the Company's best estimate of those accounts that will become uncollectible. Changes in economic conditions and trends may require a re-assessment of the risk and could result in increases or decreases in the allowance for doubtful accounts. Sales of Leasing Equipment Sales of leasing equipment consist of sales of equipment to third parties, as well as billings to customers for lost or damaged equipment. The Company records the gains and losses from the sales of leasing equipment as part of Other income, net in the Consolidated Statements of Operations. Gains and losses are recognized upon completion of the sale based upon the sales price and the book value of the equipment. For the years ended December 31, 2015, 2014 and 2013, the Company recorded net gains of $1,327, $928 and $1,340, respectively. Provision (Benefit) for Income Taxes The Company is a Limited Liability Company with a single member and therefore is subject to U.S. income taxes. Income taxes have been provided based upon the tax laws and rates in countries in which the Company's operations are conducted and income is earned. The Company's chassis leasing business is domiciled in the United States and, therefore, its income is subject to United States taxation. The provision (benefits) for income taxes recorded relates to the income earned by certain of the Company's subsidiaries, which are located in or have earned income in jurisdictions that impose income taxes, primarily in the United States. The Company is also subject to income tax in Canada and Mexico. New Accounting Standards Adopted in 2015 In June 2014, the FASB issued authoritative guidance on accounting for Compensation—Stock Compensation (Topic 718): Accounting for Share-Based Payments When the Terms of an Award Provide That a Performance Target Could Be Achieved after the Requisite Service Period ("ASU 2014-12"). The amendments require that a performance target that affects vesting and that could be achieved after the requisite service period be treated as a performance condition. The performance target should not be reflected in estimating the grant date fair value of the award. Compensation cost should be recognized in the period in which it becomes probable that the performance target will be achieved and should represent the compensation cost attributable to the period(s) for which the requisite service has already been rendered. If the performance target becomes probable of being achieved before the end of the requisite service period, the remaining unrecognized compensation cost should be recognized prospectively over the remaining requisite service period. The total amount of compensation cost recognized during and after the requisite service period should reflect the number of awards that are expected to vest and should be adjusted to reflect those awards that ultimately vest. The amendments in this update are effective for annual periods and interim periods beginning after December 15, 2015. Earlier adoption is permitted. The Company adopted this guidance for the year ended December 31, 2015 which had no impact on the Company's Consolidated Financial Statements. In August 2014, the FASB issued authoritative guidance on accounting for Presentation of Financial Statements—Going Concern (Subtopic 205-40): Disclosure of Uncertainties about an Entity's Ability to Continue as a Going Concern ("ASU 2014-15"). The amendments in this update provide guidance on management's responsibility in evaluating whether there is substantial doubt about an entity's ability to continue as a going concern and to provide related footnote disclosures. Currently, there is no guidance in U.S. GAAP about management's responsibility to evaluate whether there is substantial doubt about an entity's ability to continue as a going concern or to provide related footnote disclosures. U.S. auditing standards and federal securities law require that an auditor evaluate whether there is substantial doubt about an entity's ability to continue as a going concern for a reasonable period of time not to exceed one year beyond the date of the financial statements being audited. Because of the lack of guidance in U.S. GAAP and the differing views about when there is substantial doubt about an entity's ability to continue as a going concern, there is diversity in whether, when, and how an entity discloses the relevant conditions and events in its footnotes. These amendments should reduce diversity in the timing and content of footnote disclosures. The amendments in this update are effective for the annual period ending after December 15, 2016, and for annual periods and interim periods thereafter. Early application is permitted. The Company adopted this guidance for the year ended December 31, 2015 which did not change the disclosures in the Notes to the Consolidated Financial Statements. In April 2015, the Financial Accounting Standards Board ("FASB") issued authoritative guidance on accounting for Interest—Imputation of Interest (Subtopic 835-30): Simplifying the Presentation of Debt Issuance Costs ("ASU 2015-03"). This update requires that debt issuance cost related to a recognized debt liability be presented in the balance sheet as a direct deduction from the carrying amount of the debt liability, consistent with debt discounts, without changing existing recognition and measurement guidance for debt issuance costs. The new guidance is required to be applied on a retrospective basis and to be accounted for as a change in an accounting principle. The amendments in this update are effective for financial statements issued for fiscal years beginning after December 15, 2015 and interim periods within those fiscal years and early adoption of the amendments in this update is permitted. The Company adopted this standard for the year ended December 31, 2015 on a retrospective basis and has reclassified $18,350 and $21,556 of unamortized debt issuance cost at December 31, 2015 and 2014, respectively from Other assets to offset Debt and capital lease obligations in the Consolidated Balance Sheet. The reclassification affected only the balance sheet and had no impact on income from continuing operations, net income, retained earnings or net assets. See Note 7. In September 2015, the Financial Accounting Standards Board ("FASB") issued authoritative guidance on accounting for Business Combinations (Topic 805): Simplifying the Accounting for Measurement-Period Adjustments ("ASU 2015-16"). The guidance requires that adjustments to provisional amounts recognized in a business combination be recorded during the measurement period in the period in which the adjustment amounts are determined. The amendments in this update require that the acquirer record, in the same period's financial statements, the effects on earnings of changes in depreciation, amortization, or other income effects, if any, as the result of the change to the provisional amounts, calculated as if the accounting had been completed at the acquisition date. Additional disclosures are required to clarify the impact the adjustments to provisional amounts would have had on prior periods (by income statement line item). The update is effective for reporting periods beginning after December 15, 2015 and for interim periods within those fiscal years, with early adoption permitted. The Company adopted this guidance for the year ended December 31, 2015 which had no impact on the Company's Consolidated Financial Statements. Pending Adoption In May 2014, the FASB issued authoritative guidance on accounting for Revenue from Contracts with Customers (Topic 606): ("ASU 2014-09"). This update supersedes most of the current revenue recognition requirements. The core principle of the new guidance is that an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. New disclosures about the nature, amount, timing and uncertainty of revenue and cash flows arising from contracts with customers are also required. This guidance was effective for fiscal years and interim periods beginning after December 15, 2016 and early application was not permitted. However on July 9, 2015, the FASB decided to delay the effective date by one year. The deferral results in the new revenue standard being effective for fiscal years and interim periods beginning after December 15, 2017. The FASB also decided to allow early adoption but no earlier than the original effective date of December 15, 2016. Entities must adopt the new guidance using one of two retrospective application methods. The Company is currently evaluating the standard to determin

Leasing Activity

Leasing Activity	12 Months Ended
	Dec. 31, 2015
Leasing Activity
Leasing Activity	3. Leasing Activity The Company's term leases are typically "triple net," requiring the lessee to maintain, insure and pay taxes on the equipment until return, at no cost to the lessor. Typical term lease provisions allocate all risk of loss to the lessee, requiring the lessee to indemnify the lessor against all risks, claims, or causes of actions arising from the leasing, operation, maintenance, repair, possession or control of the equipment. The Company also leases chassis through its network of chassis pools located throughout the United States. The cost of maintaining chassis in these pools is borne by the Company. The lessee is responsible for compliance with all laws and regulations, including all environmental risk. The lessee is further responsible for loss or damage to the equipment, however caused, subject to normal wear or tear. The lessee must defend and hold harmless the lessor in the event of any claims for loss or damage to the equipment, cargo, or third parties occurring while leased. The lease terms that are variable, and can change based on the lease type, are the per diem rates, the length of the lease and the redelivery locations and quantities that may be redelivered to such locations. However, the general governing terms and conditions of the lease remain the same whether the lease is short-term, long-term or a direct finance lease, and whether the lease is for the initial term or a renewal. Multiple contracts with a single lessee are not combined and are accounted for as separate arrangements. The Company had no amounts of contingent rental in any period presented. The Company has non-cancelable operating leases for its leasing equipment. At December 31, 2015, future minimum lease revenue under these agreements is estimated as follows: 2016 $ 2017 2018 2019 2020 Thereafter ​ ​ ​ ​ ​ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Finance Revenue The Company enters into direct finance leases. These leases generally provide that, after a stated lease term, the lessee has the option to purchase the equipment, typically for amounts below the estimated fair market value of the equipment, at the time the purchase option becomes exercisable. Guaranteed and unguaranteed residual values are included in Net investment in direct finance leases on the Consolidated Balance Sheets. Under the terms of these leases, the substantive risks and rewards of equipment ownership are passed to the lessee. The lease payments are segregated into principal and interest components similar to a loan. The principal component is equal to the cost or carrying amount of the leased property. The interest component is equal to the gross cash flows charged to the lessee less the principal component. The Company recognizes the interest component, which is calculated using the effective interest method over the term of the lease as finance revenue. The principal component of the lease payment is reflected as a reduction to Net investment in direct finance leases. As of December 31, 2015 and 2014, the Company had guaranteed and unguaranteed residual values for leasing equipment on direct finance leases of $8,673 and $8,778, respectively. At December 31, 2015, receivables under these direct finance leases are collectible through 2022 as follows: Total Lease Receivables Unearned Lease Income Net Lease Receivables 2016 $ $ $ 2017 2018 2019 2020 Thereafter ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ $ $ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As of December 31, 2014, the Company had total lease receivables, unearned lease income and net lease receivables of $19,271, $3,056 and $16,215, respectively. The unguaranteed residual values are reflected in "Total Lease Receivables" above. Historically, the Company has not experienced losses related to direct finance leases and does not project future uncollectible amounts related to the principal balances receivable. If customers were to default, the Company would seek to recover the equipment securing the lease, often at fair market values in excess of the remaining receivable.

Leasing Equipment

Leasing Equipment	12 Months Ended
	Dec. 31, 2015
Leasing Equipment
Leasing Equipment	4. Leasing Equipment The following is a summary of leasing equipment recorded on the Consolidated Balance Sheets: December 31 2015 2014 Total leasing equipment $ $ Less accumulated depreciation ) ) ​ ​ ​ ​ ​ ​ ​ ​ Leasing equipment, net of accumulated depreciation $ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Leasing equipment includes assets recorded under capital leases of $121,817 and $182,688 with accumulated depreciation of $46,304 and $53,016 at December 31, 2015 and 2014, respectively. In conjunction with the analysis of the Company's fleet in the second quarter of 2014, discussed below, management performed a review of the estimated useful life of its domestic chassis, currently at 17.5 years, versus marine chassis at 22.5 years. Such analysis involved inspections of a sampling of 53' chassis located across the United States for the purpose of evaluating their physical condition to assess future operating potential, allowing for normal maintenance and repair over the extended life. Based on such review, management believes extending the useful life of its domestic chassis fleet to 20 years is appropriate and better reflects its expected service life. Accordingly, this change in accounting estimate took effect as of April 1, 2014 and had the effect of reducing depreciation expense and increasing pre-tax income for the nine months ended December 31, 2014 by approximately $3,931. Impairment of Leasing Equipment The Company periodically analyzes the usability of leasing equipment at remanufacturing facilities, depots and other storage facilities. Certain leasing equipment is rejected in the remanufacturing process due to rust and corrosion or if otherwise determined to be unusable for future remanufacturing. Additionally, due to the frequent movement of the Company's assets in its operations, its chassis and axles are subject to shrinkage. Impairment charges are recorded based on management's ongoing analysis of the impairment indicators described in Note 2, and include estimates of shrinkage and other charges based on recent historical experience. Impairment of leasing equipment amounted to $7,277, $5,855 and $5,857 for the years ended December 31, 2015, 2014 and 2013, respectively. The 2013 impairment charges is net of an insurance recovery of $494 that the Company received related to the theft of axles that occurred in 2010 and 2011. The following is a summary of the Company's impairment charges recorded for the years ended December 31, 2015, 2014 and 2013 by category: December 31 2015 2014 2013 Shrinkage $ $ $ Corroded/Unusable Impairment Insurance recoveries — — ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total impairment of leasing equipment $ $ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Early Retirement of Leasing Equipment During the second quarter of 2014, management recommended the retirement of identified excess and other non-standard chassis residing at depots and chassis pools, in addition to certain axle sets residing at depots. Management's action was largely influenced by the consummation of the last of several shipping line deals or conversions to the "motor carrier" model during the quarter, whereby chassis owned or leased by the shipping line are sold or returned to the Company to be managed in its marine chassis pools. Having bid on and being awarded such deals has profound implications on the Company's fleet size, utilization model, and customer base. Chassis Retirements As a result of the continuing shift in the Company's business model and the significant impact of consummating deals during the second quarter of 2014, management developed a multi-year fleet requirements projection for its Marine Market segment which considered relevant factors such as market growth, the current performance of the marine chassis pools and utilization under pool versus term arrangements among other factors. Based on such analysis, the Company determined it had an excess amount of chassis in its Marine Market segment, specifically 20' chassis and to a lesser degree 40' chassis. Other non-standard type chassis were similarly considered for retirement given the significant influx of assets associated with the shipping line chassis purchases. Total charges incurred during the second quarter of 2014 associated with retiring approximately 11,000 identified chassis amounted to $14,766. Axle Retirements Retiring approximately 11,000 chassis will produce an almost equivalent number of axle sets available for the future remanufacturing of chassis. Accordingly, management performed a similar review of the types, quality and quantity of axle sets residing at depots and identified certain types, such as German and Square axles, which are deemed to be less cost effective to remanufacture or repair due to the difficulty of obtaining spare parts. Accordingly, approximately 9,000 axle sets have been written-off in the second quarter of 2014 amounting to $23,000. Axles are not assigned to the Company's reportable segments. The value of idle chassis and axle sets are included in Leasing equipment in the Other category in the Company's segment disclosure. The total of the above retirement charges of $37,766 is recorded in Early retirement of leasing equipment in the Consolidated Statements of Operations.

Capitalized Software Developmen

Capitalized Software Development Costs	12 Months Ended
	Dec. 31, 2015
Capitalized Computer Software, Net
Capitalized Software Development Costs	5. Capitalized Software Development Costs In 2014, the Company's Investment Committee approved the proposal to replace its principal operating and financial reporting systems, named "Project Helix" to provide more functional capabilities necessitated by new business requirements emerging from the industry shift to the motor carrier model. In conjunction with application development efforts during the years ended December 31, 2015 and 2014, the Company capitalized $9,675 and $952, respectively of eligible costs in accordance with ASC 350-40, Internal-Use Software. These costs are included in Other assets in the Consolidated Balance Sheet. Once the software is substantially complete and ready for its intended use, capitalization will cease. Capitalized software costs will be amortized on a straight-line basis over seven years, the estimated useful life of the software.

Goodwill

Goodwill	12 Months Ended
	Dec. 31, 2015
Goodwill
Goodwill	6. Goodwill Management has determined that the Company has two reporting units, the Marine Market segment and the Domestic Market segment. For the purpose of testing goodwill for impairment, the goodwill balance has been assigned to these two reporting units using a relative fair value allocation approach. The goodwill balance for the Marine Market segment was $134,019 at both December 31, 2015 and 2014. The goodwill balance for the Domestic Market segment was $117,888 at both December 31, 2015 and 2014. At December 31, 2015, there are no accumulated impairment losses related to Goodwill. Based upon the annual assessment of goodwill, the Company concluded that no impairment existed during the years ended December 31, 2015, 2014 and 2013.

Borrowings

Borrowings	12 Months Ended
	Dec. 31, 2015
Borrowings
Borrowings	$600 million * * * Applies only if the Total Leverage Ratio for Test Period in effect (each as defined in the ABL Facility) does not exceed 3.50 to 1.00. The ABL Facility contains various representations and covenants, including the financial covenants described below. A minimum fixed charge coverage ratio of 1.00 to 1.00 shall be required for applicable testing periods on any day on which Average Availability is less than the greater of (i) 12.5% of the Total Revolving Commitment (all as defined in the ABL Facility) and (ii) $100,000, and shall continue to be required until the date on which Average Availability shall have exceeded such thresholds for at least 30 consecutive days. A maximum senior secured leverage ratio for the applicable testing periods of (i) 5.25 to 1.00 for Test Periods ending from the effective date of the ABL Facility to December 31, 2016, (ii) 5.00 to 1.00 for Test Periods ending March 31, 2017 to December 31, 2017, and (iii) 4.50 to 1.00 for Test Periods ending March 31, 2018 to the maturity date shall be required on any day on which Availability (as defined in the ABL Facility) is less than the greater of (i) 12.5% of the Total Revolving Commitment and (ii) $100,000, and shall continue to be required until the date on which Availability shall have exceeded such thresholds for at least 30 consecutive days. In addition to the above financial covenants, the ABL Facility contains restrictions, which include but are not limited to, restrictions on the creation of liens, the incurrence of additional indebtedness (including guarantee obligations), investments, asset dispositions, sale and leaseback transactions, swap agreements, optional payments and modifications of subordinated and other debt instruments, changes in fiscal year, negative pledge clauses and other burdensome agreements, transactions with affiliates, mergers and consolidations, liquidations and dissolutions, restricted payments (including dividends and other payments in respect of capital stock), asset sales or transfers, amendments of material documents and transactions with respect to PoolStat®. The ABL Facility also provides for cash dominion subject to certain availability triggers. In accordance with FASB ASC Topic 470-50, Modifications and Extinguishments of Debt, the Company evaluated the accounting for financing fees on a lender by lender basis. Since several lenders withdrew from the ABL Facility, the Company recognized a loss of $2,647. This amount is recorded in Loss on modification and extinguishment of debt and capital lease obligations in the Consolidated Statement of Operations. Additionally, costs incurred in connection with the Amendment No. 4 and the December 2015 Incremental Amendment for commitment, arrangement and other fees were approximately $9,250 and are classified as deferred financing fees and reflected as a deduction from the carrying amount of the debt liability. These fees along with the unamortized deferred costs related to the old arrangement will be amortized into interest expense over the term of the new arrangement, through December 9, 2020. The amount outstanding under this facility was $867,000 and $759,000 at December 31, 2015 and 2014, respectively. The weighted-average interest rates including amortized debt issuance fees for the years ended December 31, 2015, 2014 and 2013 was 3.51%, 4.60% and 4.03%, respectively. At December 31, 2015, $343,481 additional borrowing capacity was available under this facility. Swaps On August 9, 2012, in connection with the closing of the sale of the Original Notes and the ABL Facility and the repayment of the Fortis Facility, the Company terminated all six interest rate derivatives. On January 10, 2013, the Company entered into a new interest rate swap transaction with Deutsche Bank AG effectively converting $300,000 of variable rate debt based upon LIBOR into a fixed rate instrument. The Company receives one month LIBOR with interest payable at a rate of 0.756% on the notional amount. At December 31, 2015, one month LIBOR was 0.4295%. The agreement terminates on August 9, 2017. See Note 8. Loans Payable CIMC During 2010, the Company contracted for the remanufacture and financing of 3,135 chassis with CIMC Vehicles Group Ltd. and CIMC Transportation Equipment, Inc. (collectively, "CIMC"). CIMC financed 90% of the acquisition cost of these remanufactured chassis. This equipment was delivered in eight tranches as manufacturing was completed over various delivery dates from October 11, 2010 to June 30, 2011 and eight corresponding financing agreements were signed. The term of each agreement is 120 months commencing on the acceptance date of the equipment. Amounts outstanding under these agreements bear an interest rate equal to LIBOR plus a margin and payments are made quarterly. Upon registration, CIMC is listed as the first lien holder on all certificates of title to the equipment. At December 31, 2015 and 2014, $14,519 and $16,950 was outstanding under these agreements. The weighted-average interest rates for the years ended December 31, 2015, 2014 and 2013 were 4.59%, 4.53% and 4.56%, respectively. Capital Lease Obligations At December 31, 2015 and 2014, the total capital lease obligations outstanding associated with leasing equipment were $49,160 and $88,272, respectively. The capital lease obligations mature in varying amounts from 2016 through 2021 and have stated or implicit rates ranging from 3.53% to 7.07%. The weighted-average interest rates for the years ended December 31, 2015, 2014 and 2013 were 4.81%, 4.96% and 5.10%, respectively. On December 31, 2014 the Company exercised an early purchase option for one of its capital leases. The Company purchased 1,371 chassis for approximately $12,032 and recognized a loss on modifications and extinguishment of debt and capital lease obligations of $225. During 2015, the Company exercised early purchase options for several of its capital leases. The Company purchased 1,537 chassis for approximately $11,855 and recognized a loss on modifications and extinguishment of debt and capital lease obligations of $860. Additionally during 2015, the Company exercised purchase options from two maturing capital leases. The Company purchased 5,161 chassis for an aggregate price of $14,644. Assets Pledged as Collateral The Company's debt obligations are collateralized by the Company's Leasing equipment and Net investment in direct finance leases. As of December 31, 2015 and 2014, assets pledged as collateral are as follows: December 31 2015 2014 ABL Facility $ $ CIMC Loans Capital Lease Obligations ​ ​ ​ ​ ​ ​ ​ ​ Total Pledged as Collateral $ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ The Company's 11% Senior Secured Notes are secured on a second-priority lien basis. Collateral generally consists of cash, owned chassis, accounts receivable, and investment property of the guarantors including, with limitations, the equity of the non-guarantors. Covenants At December 31, 2015, under the Company's debt instruments, the Company is required to maintain certain financial covenants (as defined in each agreement) including Minimum Tangible Net Worth tests, Funded Debt to Tangible Net Worth, Senior Secured Leverage Ratio and a Fixed Charge Coverage test. As of December 31, 2015, the Company was in compliance with all covenants. Debt Maturities The Company's outstanding debt, including capital lease obligations, as of December 31, 2015 matures as follows: 2016 $ 2017 2018 2019 2020 Thereafter ​ ​ ​ ​ ​ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​" id="sjs-B4">7. Borrowings The following is a summary of the Company's borrowings: December 31 2015 2014 Debt Instrument Debt Issuance Cost Debt Instrument Debt Issuance Costs Senior Secured 11% Notes $ $ $ $ ABL Facility Loans Payable CIMC Capital lease obligations ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total $ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Less current maturities ) ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Long-term debt, less current maturities $ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ The Company's debt consisted of notes, loans and capital lease obligations payable in varying amounts through 2021, with a weighted-average interest rate of 5.37%, 5.78% and 6.11% for the years ended December 31, 2015, 2014 and 2013, respectively. The weighted-average interest rates disclosed are calculated as "all-in" rates which include interest expense and amortization of agents' fees and deferred financing fees. Senior Secured 11% Notes On August 9, 2012, TRAC along with TRAC Intermodal Corp., sold $300,000 aggregate principal amount of 11.0% Senior Secured Notes, (the "Notes"), issued at par in a private transaction. The Notes mature on August 15, 2019, with interest payable semi-annually beginning on February 15, 2013. The Notes are secured on a second-priority lien basis. Collateral generally consists of cash, owned chassis, accounts receivable, and investment property of the guarantors including, with limitations, the equity of the non-guarantors. The Company may redeem some or all of the Notes at any time on or after August 15, 2015 at the redemption prices set forth in the Notes plus accrued and unpaid interest, if any, to the redemption date. At any time prior to August 15, 2015, the Company may redeem some or all of the Notes at a price equal to 100% of the principal amount of the Notes to be redeemed plus a "make-whole" premium, plus accrued and unpaid interest, if any, to the redemption date. The Company may also redeem up to 35% of the aggregate principal amount of the Notes at any time on or prior to August 15, 2015 using net proceeds from certain equity offerings, subject to the satisfaction of certain conditions set forth in the Notes. If the Company experiences certain kinds of changes in control, the Company must offer to purchase the Notes at a price equal to 101% of the principal amount of the Notes plus accrued and unpaid interest, if any, to the redemption date. Holders of the Notes will have the option to redeem their Notes for 101.0% of principal upon a change of control as defined by the Notes and upon the Company's collateral or non-collateral asset sales as defined in the Notes, at a redemption price of 100.0%. TRAC has no operations of its own so it is dependent upon the cash flows of its subsidiaries to meet its obligations under the Notes. Since the proceeds from the Notes were used to repay debt owed by Interpool, an intercompany note was entered into between TRAC and Interpool with terms identical to the Notes. The servicing of the intercompany note arrangement by Interpool provides the funds for TRAC to service the interest and debt payments due under the Notes. The indenture governing the Notes also contains various restrictive covenants, including limitations on the payment of dividends and other restrictive payments, limitations on incurrence of indebtedness, investments, creation of liens and limitations on asset sales. The proceeds from the offering of the Notes were used to repay existing indebtedness of Interpool, including interest rate swap liabilities, and for general corporate purposes. The Company incurred approximately $9,555 in fees and expenses related to the note offering. These fees and expenses are classified as deferred financing fees and reflected as a deduction from the carrying amount of the debt liability. These fees are being amortized into interest expense over the seven year term of the Notes. On August 17, 2015, the Company borrowed $176,000 under its ABL Facility which carries an interest rate of one-month USD LIBOR + 2.25%. The funds were used to finance the redemption of $150,000 in aggregate principal amount of the outstanding Notes at a redemption price equal to 108.250 of such aggregate principal amount. Approximately $162,375 was paid to redeem the Notes, $150,000 aggregate principal amount and a premium of $12,375, and approximately $3,058 of deferred financing fees were expensed upon redemption. The aggregate principal amount of Notes outstanding was $150,000 and $300,000 at December 31, 2015 and 2014. The weighted-average interest rates including amortized debt issuance fees for the years ended December 31, 2015, 2014 and 2013 was 11.53%, 11.54% and 11.50%, respectively. The Company has analyzed each of the redemption features included in the Notes to determine whether any of these embedded features should be bifurcated in accordance with the Derivatives and Hedging Topic of the FASB ASC (ASC 815). The Company has concluded that the redemption feature which offers optional redemption by the Company of up to 35% of the aggregate principal amount of the Notes at a redemption price of 111% of the aggregate principa1 amount of the Notes using the cash proceeds of an equity offering qualifies as a feature that should be bifurcated under ASC 815. The Company has determined that the resulting measurement of the fair value of this derivative is immaterial to the consolidated financial statements, and will reassess the fair value of this derivative each reporting period with any changes recorded in earnings. ABL Facility Concurrent with the closing of the sale of the Original Notes, Interpool together with certain of its subsidiaries, and TRAC and TRAC Intermodal Corp entered into the ABL Facility, a $725,000 asset-based, senior secured credit agreement, with JPMorgan Chase Bank, N.A. and a group of lenders, with JPMorgan Chase Bank, N.A. acting as administrative agent. In connection with the ABL Facility, the Company pledged certain rental fleet assets, accounts receivable and various other assets for the benefit of the lenders as collateral security for the payment and performance of the Company's obligations under the ABL Facility and related loan documents. From December 2012 to December 2014 the ABL Facility was amended numerous times, each time increasing the revolving commitment. During this time, the revolving commitment was increased from $725,000 at December 31, 2012 to $1.25 billion at December 31, 2014. Fees paid in connection with these amendments totaled $3,113. These fees were classified as deferred financing fees and are reflected as a deduction from the carrying amount of the debt liability. These fees are being amortized into interest expense over the remaining term of the ABL Facility. Additionally, on April 15, 2014, the Company entered into an agreement with its lenders to amend the ABL Facility. The interest rate on the ABL Facility was decreased to LIBOR plus 2.25% from LIBOR plus 2.75%. Fees paid in connection with this amendment were $1,880. These fees were classified as deferred financing fees and are reflected as a deduction from the carrying amount of the debt liability. These fees are being amortized over the remaining life of the loan. A Current Report on Form 8-K was filed with the SEC on April 18, 2014 in connection with the amendment. Amendments to ABL Facility 2015 On August 11, 2015, Interpool entered into Amendment No. 3 to Interpool's existing asset backed credit agreement, with the loan parties listed therein, the lenders named therein and the JPMorgan Chase Bank as Administrative Agent. Pursuant to Amendment No. 3, the definition of "Payment Conditions" was amended by modifying the calculation used for purposes of determining the amount of any permitted acquisition, investment, asset sale and restricted payment the Company may make as well as any indebtedness the Company may prepay under the Credit Agreement. Under Amendment No. 3, the aggregate total revolving commitment available under the ABL Facility was also increased from $1.25 billion to $1.40 billion. In addition, on August 11, 2015, Interpool entered into an incremental facility amendment (the "August 2015 Incremental Amendment") to the Credit Agreement. Pursuant to the August 2015 Incremental Amendment, Interpool obtained additional revolving commitments under the ABL Facility through its Administrative Agent from Citibank, N.A., as a new lender in the amount of $100,000 and from existing lender, City National Bank, in the amount of $9,000. Three existing lenders, Bank of America, N.A., JPMorgan Chase Bank, N.A. and Deutsche Bank AG New York Branch reduced their commitments by $22,750, $22,750 and $13,500, respectively resulting in an aggregate increase in revolving commitments of $50,000. As a result of the August 2015 Incremental Amendment, lenders have committed to an aggregate total revolving commitment under the Credit Agreement of $1.30 billion. In accordance with FASB ASC Topic 470-50, Modifications and Extinguishments of Debt, the Company evaluated the accounting for financing fees on a lender by lender basis. Since three lenders reduced their commitments under the ABL Facility, the Company recognized a loss on modification of debt of $739. This amount is recorded in Loss on modification and extinguishment of debt and capital lease obligations in the Consolidated Statement of Operations. Additionally, costs incurred in connection with the Amendment No. 3 and the August 2015 Incremental Amendment for commitment, arrangement and other fees were approximately $749. These fees are classified as deferred financing fees and reflected as a deduction from the carrying amount of the debt liability. These fees will be amortized into interest expense over the remaining term of the ABL Facility. On December 10, 2015, Interpool entered into Amendment No. 4 to the Company's existing asset based credit agreement among the loan parties listed therein, the lenders named therein, and Bank of America, N.A., as successor administrative agent (as successor in interest to JPMorgan Chase Bank, N.A.). Under Amendment No 4, the percentage per annum for alternative base rate loans (the "ABR Rate") and Eurodollar loans (the "Eurodollar Rate") was lowered from 1.25% to 1.00% and from 2.25% to 2.00%, respectively, until December 10, 2016, the first anniversary of the date of Amendment No. 4. Thereafter, the ABR Rate and the Eurodollar Rate each will be subject to increases or decreases based on average daily availability during the most recently ended fiscal quarter to a range of between 1.25% and 0.75% and between 2.25% and 1.75%, respectively. In addition, certain financial and negative covenants were relaxed and the definition of "Payment Conditions" was amended by modifying the calculation used for purposes of determining the amount of any permitted acquisition, investment, asset sale and restricted payment the Company may make as well as any indebtedness the Company may prepay. Under the Amendment No. 4, the maximum total revolving commitment under the Credit Agreement was increased from $1.40 billion to $1.50 billion and the maturity date of the revolving credit facility was extended from August 9, 2017 to December 10, 2020. Finally, the lenders party to the Credit Agreement appointed Bank of America, N.A., as Administrative Agent (as successor in interest to JPMorgan Chase Bank, N.A. in such capacity) under the Credit Agreement and other loan documents. As a result of the Amendment No. 4, the aggregate total revolving commitment of the existing lenders under the Credit Agreement decreased from $1.30 billion to $1.25 billion. Additionally, on December 14, 2015, the Company entered into the "December 2015 Incremental Amendment") to the Credit Agreement among the loan parties listed therein, the lenders named therein and the Administrative Agent. Pursuant to the December 2015 Incremental Amendment, the Company obtained additional revolving commitments under the Credit Agreement through its Administrative Agent from DVB Bank SE, in the amount of $50.0 million. As a result of the Incremental Amendment, the aggregate total revolving commitment of the existing lenders under the Credit Agreement is $1.30 billion. The ABL Facility, as amended, has a maturity date of December 10, 2020 (provided such maturity is at least 91 days prior to the maturity of the Notes or senior notes the Company may issue, subject to certain exceptions) and borrowings are limited to a maximum amount (the "Borrowing Base") equal to the sum of (i) 85% multiplied by eligible accounts receivable (including Canadian accounts receivable), plus (ii) the lesser of (a) 85% multiplied by the sum of the net book GAAP depreciated value for eligible rental fleet assets not subject to a direct finance lease and the net investment in accordance with U.S. GAAP with respect to eligible rental fleet assets subject to a direct finance lease (in each case, including rental fleet assets located in Canada and up to the lesser of 5% of the Borrowing Base and $60,000 of fleet assets located in Mexico) and (b) 80% multiplied by the net orderly liquidation value percentage identified in the most recent rental fleet asset appraisals multiplied by the sum of the net book GAAP depreciated value for eligible rental fleet assets not subject to a direct finance lease and the net investment in accordance with U.S. GAAP with respect to eligible rental fleet assets subject to a direct finance lease (in each case, including rental fleet assets located in Canada and up to the lesser of 5% of the Borrowing Base and $60,000 of fleet assets located in Mexico), less (iii) reserves established by the Administrative Agent. Field exams and appraisals will be conducted on a periodic basis, the frequency of which increases subject to certain availability triggers or during the continuance of an event of default The ABL Facility bears an interest rate equal to the Adjusted LIBO Rate for the applicable Interest Period plus the Applicable Rate for Eurodollar Loans or the Alternate Base Rate plus the Applicable Rate for ABR Loans (all as defined in the ABL Facility). Until December 10, 2016, the Applicable Rate is equal to (i) 2.00% for Eurodollar Loans, and (ii) 1.00% for ABR Loans. Thereafter, the Applicable Rate is subject to increase or decrease on the first business day of each fiscal quarter, based on the Average Availability (as defined in the ABL Facility) for the then most recently ended fiscal quarter, as set forth below: Average Availability Eurodollar Loans ABR Loans <$300 million % % $300 million to <$600 million % % >$600 million * * * Applies only if the Total Leverage Ratio for Test Period in effect (each as defined in the ABL Facility) does not exceed 3.50 to 1.00. The ABL Facility contains various representations and covenants, including the financial covenants described below. A minimum fixed charge coverage ratio of 1.00 to 1.00 shall be required for applicable testing periods on any day on which Average Availability is less than the greater of (i) 12.5% of the Total Revolving Commitment (all as defined in the ABL Facility) and (ii) $100,000, and shall continue to be required until the date on which Average Availability shall have exceeded such thresholds for at least 30 consecutive days. A maximum senior secured leverage ratio for the applicable testing periods of (i) 5.25 to 1.00 for Test Periods ending from the effective date of the ABL Facility to December 31, 2016, (ii) 5.00 to 1.00 for Test Periods ending March 31, 2017 to December 31, 2017, and (iii) 4.50 to 1.00 for Test Periods ending March 31, 2018 to the maturity date shall be required on any day on which Availability (as defined in the ABL Facility) is less than the greater of (i) 12.5% of the Total Revolving Commitment and (ii) $100,000, and shall continue to be required until the date on which Availability shall have exceeded such thresholds for at least 30 consecutive days. In addition to the above financial covenants, the ABL Facility contains restrictions, which include but are not limited to, restrictions on the creation of liens, the incurrence of additional indebtedness (including guarantee obligations), investments, asset dispositions, sale and leaseback transactions, swap agreements, optional payments and modifications of subordinated and other debt instruments, changes in fiscal year, negative pledge clauses and other burdensome agreements, transactions with affiliates, mergers and consolidations, liquidations and dissolutions, restricted payments (including dividends and other payments in respect of capital stock), asset sales or transfers, amendments of material documents and transactions with respect to PoolStat®. The ABL Facility also provides for cash dominion subject to certain availability triggers. In accordance with FASB ASC Topic 470-50, Modifications and Extinguishments of Debt, the Company evaluated the accounting for financing fees on a lender by lender basis. Since several lenders withdrew from the ABL Facility, the Company recognized a loss of $2,647. This amount is recorded in Loss on modification and extinguishment of debt and capital lease obligations in the Consolidated Statement of Operations. Additionally, costs incurred in connection with the Amendment No. 4 and the December 2015 Incremental Amendment for commitment, arrangement and other fees were approximately $9,250 and are classified as deferred financing fees and reflected as a deduction from the carrying amount of the debt liability. These fees along with the unamortized deferred costs related to the old arrangement will be amortized into interest expense over the term of the new arrangement, through December 9, 2020. The amount outstanding under this facility was $867,000 and $759,000 at December 31, 2015 and 2014, respectively. The weighted-average interest rates including amortized debt issuance fees for the years ended December 31, 2015, 2014 and 2013 was 3.51%, 4.60% and 4.03%, respectively. At December 31, 2015, $343,481 additional borrowing capacity was available under this facility. Swaps On August 9, 2012, in connection with the closing of the sale of the Original Notes and the ABL Facility and the repayment of the Fortis Facility, the Company terminated all six interest rate derivatives. On January 10, 2013, the Company entered into a new interest rate swap transaction with Deutsche Bank AG effectively converting $300,000 of variable rate debt based upon LIBOR into a fixed rate instrument. The Company receives one month LIBOR with interest payable at a rate of 0.756% on the notional amount. At December 31, 2015, one month LIBOR was 0.4295%. The agreement terminates on August 9, 2017. See Note 8. Loans Payable CIMC During 2010, the Company contracted for the remanufacture and financing of 3,135 chassis with CIMC Vehicles Group Ltd. and CIMC Transportation Equipment, Inc. (collectively, "CIMC"). CIMC financed 90% of the acquisition cost of these remanufactured chassis. This equipment was delivered in eight tranches as manufacturing was completed over various delivery dates from October 11, 2010 to June 30, 2011 and eight corresponding financing agreements were signed. The term of each agreement is 120 months commencing on the acceptance date of the equipment. Amounts outstanding under these agreements bear an interest rate equal to LIBOR plus a margin and payments are made quarterly. Upon registration, CIMC is listed as the first lien holder on all certificates of title to the equipment. At December 31, 2015 and 2014, $14,519 and $16,950 was outstanding under these agreements. The weighted-average interest rates for the years ended December 31, 2015, 2014 and 2013 were 4.59%, 4.53% and 4.56%, respectively. Capital Lease Obligations At December 31, 2015 and 2014, the total capital lease obligations outstanding associated with leasing equipment were $49,160 and $88,272, respectively. The capital lease obligations mature in varying amounts from 2016 through 2021 and have stated or implicit rates ranging from 3.53% to 7.07%. The weighted-average interest rates for the years ended December 31, 2015, 2014 and 2013 were 4.81%, 4.96% and 5.10%, respectively. On December 31, 2014 the Company exercised an early purchase option for one of its capital leases. The Company purchased 1,371 chassis for approximately $12,032 and recognized a loss on modifications and extinguishment of debt and capital lease obligations of $225. During 2015, the Company exercised early purchase options for several of its capital leases. The Company purchased 1,537 chassis for approximately $11,855 and recognized a loss on modifications and extinguishment of debt and capital lease obligations of $860. Additionally during 2015, the Company exercised purchase options from two maturing capital leases. The Company purchased 5,161 chassis for an aggregate price of $14,644. Assets Pledged as Collateral The Company's debt obligations are collateralized by the Company's Leasing equipment and Net investment in direct finance leases. As of December 31, 2015 and 2014, assets pledged as collateral are as follows: December 31 2015 2014 ABL Facility $ $ CIMC Loans Capital Lease Obligations ​ ​ ​ ​ ​ ​ ​ ​ Total Pledged as Collateral $ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ The Company's 11% Senior Secured Notes are secured on a second-priority lien basis. Collateral generally consists of cash, owned chassis, accounts receivable, and investment property of the guarantors including, with limitations, the equity of the non-guarantors. Covenants At December 31, 2015, under the Company's debt instruments, the Company is required to maintain certain financial covenants (as defined in each agreement) including Minimum Tangible Net Worth tests, Funded Debt to Tangible Net Worth, Senior Secured Leverage Ratio and a Fixed Charge Coverage test. As of December 31, 2015, the Company was in compliance with all covenants. Debt Maturities The Company's outstanding debt, including capital lease obligations, as of December 31, 2015 matures as follows: 2016 $ 2017 2018 2019 2020 Thereafter ​ ​ ​ ​ ​ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Derivatives and Hedging Activit

Derivatives and Hedging Activities	12 Months Ended
	Dec. 31, 2015
Derivatives and Hedging Activities
Derivatives and Hedging Activities	8. Derivatives and Hedging Activities On August 9, 2012, in connection with the closing of the sale of the Original Notes and the ABL Facility and the repayment of the Fortis Facility, the Company terminated all six existing interest rate derivatives. Additionally, on January 10, 2013, the Company entered into an interest rate swap transaction with Deutsche Bank AG effectively converting $300,000 of variable rate debt based upon LIBOR into a fixed rate instrument. The Company receives one month LIBOR with interest payable at a rate of 0.756% on the notional amount. At December 31, 2015, one month LIBOR was 0.4295%. The agreement terminates on August 9, 2017. The Company accounts for derivative instruments in accordance with the Derivatives and Hedging Topic of the FASB ASC. In the normal course of business, the Company is exposed to fluctuations in interest rates on its floating rate debt. In order to reduce its interest rate risk, the Company utilized interest rate derivatives to manage its exposure to interest rate risks. Through the utilization of these interest rate derivatives, the Company receives floating rate payments in exchange for fixed rate payments, effectively converting its floating rate debt to a fixed rate. In accordance with the Derivatives and Hedging Topic of the FASB ASC, if certain conditions are met, an interest rate derivative may be specifically designated as a cash flow hedge. All of the Company's interest rate derivatives are cash flow hedges. On the date that the Company entered into an interest rate derivative, it formally documented the intended use of the interest rate derivative and its designation as a cash flow hedge, if applicable. The Company also assessed (both at inception and on an ongoing basis) whether the interest rate derivative had been highly effective in offsetting changes in the cash flows of the floating rate interest payments on its debt and whether the interest rate derivative was expected to remain highly effective in future periods. If it were to be determined that the interest rate derivative was not (or had ceased to be) highly effective as a cash flow hedge, the Company would have discontinued hedge accounting treatment. At inception of an interest rate derivative designated as a cash flow hedge, the Company established the method it would use to assess effectiveness and the method it would use to measure any ineffectiveness. The Company used the "hypothetical derivative method" to estimate the fair value of the hedged interest payments in both its assessments and measurement of hedge effectiveness. The degree to which a hedge was judged as highly effective under the hypothetical derivative method depended on a calculation involving the comparison of the change in the fair value of the actual interest rate derivative to the change in the fair value of a hypothetical interest rate derivative with critical terms which matched the hedged floating-rate interest payments. The effectiveness of the Company's hedge relationships was assessed prospectively and retrospectively by regressing historical changes in the actual interest rate derivative against historical changes in the hypothetical interest rate derivative and evaluating whether certain statistical measures (such as correlation and slope) had been met. However, measurement of hedge effectiveness in the Consolidated Financial Statements each period required a comparison of the cumulative change in the fair value of the actual interest rate derivative to the cumulative change in the fair value of the hypothetical interest rate derivative. When the change in the interest rate derivative exceeded the change in the hypothetical interest rate derivative, the amount of the change in fair value by which the actual interest rate derivative exceeded the hypothetical interest rate derivative was the calculated ineffectiveness which was recorded in Interest expense in the Consolidated Statements of Operations. In accordance with the Derivatives and Hedging Topic of the FASB ASC, all interest rate derivatives were recognized on the Company's Consolidated Balance Sheets at their fair value and consisted of United States dollar denominated LIBOR-based interest rate swaps. Their fair values were determined using cash flows discounted at relevant market interest rates in effect at the period close. The fair value generally reflected the estimated amounts that the Company would receive or pay to transfer the contracts at the reporting date and therefore reflects the Company's or counterparty's non-performance risk. See Note 16. For the Company's interest rate derivatives designated as cash flow hedges, the effective portion of the interest rate derivative's gain or loss was deferred and initially reported as a component of Accumulated other comprehensive income (loss) ("AOCI") and subsequently reclassified into earnings when the interest payments on the debt were recorded in earnings. The ineffective portion of the interest rate derivative was calculated and recorded in Interest expense in the Consolidated Statements of Operations at each quarter-end. Refer to Note 11 for further information regarding the amounts accumulated in other comprehensive loss. The Company may, at its discretion, choose to terminate or re-designate any interest rate derivatives prior to their contractual maturities. At that time, any gains and losses previously reported in AOCI on termination would continue to amortize into interest expense or interest income to correspond to the recognition of interest expense or interest income as the interest payments on the debt affect earnings, provided that management has determined that the forecasted transactions are probable of occurring. On August 9, 2012, in connection with the closing of the sale of the Original Notes and the ABL Facility and the repayment of the Fortis Facility, the Company terminated all six remaining interest rate derivatives. Upon settlement, the Company paid $91,422, which included $1,052 of accrued interest. The balance in AOCI is being reclassified into earnings over the remaining life of the items previously hedged through October 2017, as management has determined that the forecasted transactions remain probable of occurring. Terminated interest rate derivatives are reviewed periodically to determine if the forecasted transactions remain probable of occurring. To the extent that the debt instrument was also terminated or the occurrence of the interest payments on the debt is deemed remote, the related portion of the gain or loss associated with the terminated derivative included in AOCI would be recognized in the Consolidated Statements of Operations immediately. For additional disclosures related to derivative instruments, see Notes 2, 11 and 16. The Company held the following interest rate derivative designated as a cash flow hedge as of December 31, 2015: Hedged Item Current Notional Amount Effective Date Maturity Date Floating Rate Fixed Leg Interest Rate Fair Value Gain(a) ABL Facility $ Jan-2013 Aug-2017 1M LIBOR % $ (a) This interest rate derivative is recorded in Other Assets in the Consolidated Balance Sheets. At the dates indicated, the Company had in place total interest rate derivatives to fix floating interest rates on a portion of the borrowings under its debt facilities as summarized below: Total Current Notional Amount Weighted- Average Fixed Leg Interest Rate Weighted- Average Remaining Term December 31, 2015 $ % 1.5 years December 31, 2014 $ % 2.5 years December 31, 2013 $ % 3.5 years The following table sets forth the net of tax effect of the Company's cash flow hedge derivative instruments on the Consolidated Financial Statements for the years ended December 31, 2015, 2014 and 2013: Effective Portion Ineffective Portion Derivative Instruments Change in Unrealized Gain (Loss) Recognized in OCI on Derivatives(a) Classification of Loss Reclassified from OCI into Income Loss Reclassified from OCI into Income(b) Classification of (Gain) Loss Recognized Directly in Income on Derivative (Gain) Loss Recognized Directly in Income on Derivative(c) December 31, 2015 Interest rate derivatives $ ) Interest expense $ Interest expense $ ) December 31, 2014 Interest rate derivatives $ ) Interest expense $ Interest expense $ ) December 31, 2013 Interest rate derivatives $ Interest expense $ Interest expense $ ) (a) This represents the change in the fair market value of the Company's interest rate derivatives, net of tax, offset by the amount of actual cash paid related to the net settlements of the interest rate derivatives, net of tax. (b) This represents the amount of actual cash paid, net of tax, related to the net settlements of the interest rate derivatives plus any effective amortization of deferred losses on the Company's terminated derivatives, net of tax. 2015 2014 2013 Net settlements of interest rate derivatives, net of tax of ($685), ($720) and ($610), respectively $ $ $ Amortization of terminated derivatives, net of tax of ($7,920), ($7,265) and ($7,774), respectively ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ $ $ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (c) Amounts impacting income not related to OCI reclassification. The following table summarizes the deferred (gains) and losses for the terminated interest rate derivatives and the related amortization into interest expense for the years ended December 31, 2015, 2014 and 2013: Amount of Deferred Loss Expected to be Amortized over the Next 12 months Unamortized Deferred (Gain) Loss at December 31, 2015 Amount of Deferred Loss Amortized (including Accelerated Amortization) into Interest Expense Original Maximum Notional Amount Effective Date Maturity Date Fixed Rate % Termination Date Deferred Loss Upon Termination Hedged Item 2015 2014 2013 (a) $ Jul-2007 Oct-2017 % Dec-2007 $ $ ) $ ) $ $ $ ) (a) Jul-2007 Jul-2017 % Dec-2007 ) ) ) (a) Jul-2007 Jul-2014 % Dec-2007 — — — (b) Jul-2008 Oct-2014 % Jul-2008 — — — (b) Oct-2007 Oct-2014 % Jul-2008 — — — (b) Oct-2014 Oct-2017 % Jul-2008 — (b) Oct-2014 Oct-2017 % Jul-2008 — (a) Nov-2007 Jul-2014 % Jul-2008 — — ) ) — (b) Oct-2007 Oct-2014 % Jul-2008 — — ) — (a) Nov-2007 Oct-2017 % Jul-2008 ) ) ) ) ) (a) Nov-2007 Jul-2017 % Jul-2008 ) ) ) ) ) (c) Sep-2007 Jul-2014 % Mar-2011 — — — (d) Jul-2008 Oct-2017 % Aug-2012 (d) Jul-2008 Jul-2017 % Aug-2012 (d) Jul-2008 Jul-2014 % Aug-2012 — — — (d) Jul-2008 Oct-2014 % Aug-2012 — — — (d) Jul-2008 Oct-2014 % Aug-2012 — — — (d) Oct-2014 Oct-2017 % Aug-2012 — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total $ $ $ $ $ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (a) This hedged item is referred to as Chassis Funding II Floating Rate Asset-Backed Notes, Series 2007-1 (b) This hedged item is referred to as Chassis Funding Floating Rate Asset-Backed Notes, Series 2007-1 (c) This hedged item is referred to as Chassis Financing Program, Term Loan Agreement—Portfolio C (d) This hedged item is referred to as Chassis Financing Program, Portfolio A The amount of loss expected to be reclassified from AOCI into interest expense over the next 12 months consists of net interest settlements on an active interest rate derivative in the amount of $208 (which is net of tax of $135) and amortization of deferred losses on the Company's terminated derivatives of $9,934 (which is net of tax of $6,424).

Commitments and Contingencies

Commitments and Contingencies	12 Months Ended
	Dec. 31, 2015
Commitments and Contingencies
Commitments and Contingencies	9. Commitments and Contingencies Purchase Commitments The Company's current chassis purchase commitments are related to commitments to refurbish and remanufacture chassis. At December 31, 2015, commitments for capital expenditures for leasing equipment totaled approximately $40,297, of which $37,517 and $2,780 was committed for 2016 and 2017, respectively. Lease Commitments The Company is party to various operating leases relating to office facilities and certain other equipment with various expiration dates through 2025. All leasing arrangements contain normal leasing terms without unusual purchase options or escalation clauses. Rental expense under operating leases was $14,417, $8,541 and $9,660 for the years ended December 31, 2015, 2014 and 2013, respectively. As of December 31, 2015, the aggregate minimum rental commitment under operating leases having initial or remaining non-cancelable lease terms in excess of one year was as follows: 2016 $ 2017 2018 2019 2020 Thereafter ​ ​ ​ ​ ​ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ The Company is party to various capital leases and is obligated to make payments related to its long-term borrowings. See Note 7. Guarantees and Indemnifications In the ordinary course of business, the Company executes contracts involving indemnifications standard in the industry and indemnifications specific to a transaction such as an assignment and assumption agreement. These indemnifications might include claims related to any of the following: tax matters, governmental regulations, and contractual relationships. Performance under these indemnities would generally be triggered by a breach of terms of the contract or by a third-party claim. The Company regularly evaluates the probability of having to incur costs associated with these indemnifications and have accrued for any expected losses that are probable. No losses have been accrued at December 31, 2015 and 2014. At December 31, 2015, the following guarantees and indemnifications for which payments are possible are as follows: Taxes In the ordinary course of business, the Company provides various tax-related indemnifications as part of transactions. The indemnified party typically is protected from certain events that result in a tax treatment different from that originally anticipated. The Company's liability typically is fixed when a final determination of the indemnified party's tax liability is made. In some cases, a payment under a tax indemnification may be offset in whole or in part by refunds from the applicable governmental taxing authority. Interpool is party to numerous tax indemnifications and many of these indemnities do not limit potential payment; therefore, it is unable to estimate a maximum amount of potential future payments that could result from claims made under these indemnities. ILWU Roadability Program—Inspection Fees A recent agreement reached between the Pacific Maritime Association ("PMA") and the International Longshore and Warehouse Union ("ILWU") provides for mandatory roadability inspections (subject to limited exceptions) of all chassis before they leave any of the West Coast terminals where the ILWU has jurisdiction (the "ILWU Roadability Program"). In connection with this program, we have received invoices and payment demands from certain host locations. We are currently disputing such fees because, among other reasons, we believe there is no legal basis for them to be imposed and the ILWU Roadability Program provides for inspections beyond those required by applicable law. Since we believe that any amounts we may be required to pay are not probable, we are not currently accruing such expenses in our financial statements. As of December 31, 2015, we have received invoices aggregating approximately $1.8 million. Other The Company is engaged in various legal proceedings from time to time incidental to the conduct of its business. Such proceedings may relate to claims arising out of accidents that occur which involve death and injury to persons and damage to property. Accordingly, the Company requires all of its lessees to indemnify the Company against any losses arising out of such accidents or other occurrences while its equipment is on-hire to the lessees. In addition, the Company's lessees are generally required to maintain minimum levels of general liability and property insurance coverages which are standard in the industry. The Company maintains general liability and property damage policies in the event that the above lessee coverages are insufficient or there is a loss for which the Company is responsible. While the Company believes that such coverage should be adequate to cover current claims, there can be no guarantee that future claims will never exceed such amounts. Nevertheless, the Company believes that no current or potential claims of which it is aware will have a material adverse effect on its consolidated financial condition, results of operations or cash flows. The Company is subject to legal proceedings and claims in the ordinary course of business, principally personal injury and property casualty claims. The Company may spend significant financial and managerial resources to defend itself against such claims, even when they are without merit. The Company is not aware of any legal proceedings or claims that it believes will have, individually or in the aggregate, a material adverse effect on the Company, its consolidated financial condition, results of operations or cash flows.

Income Taxes

Income Taxes	12 Months Ended
	Dec. 31, 2015
Income Taxes
Income Taxes	10. Income Taxes Deferred tax assets and liabilities are recognized for the expected future taxation of events that have been reflected in the Consolidated Financial Statements. Deferred tax assets and liabilities are determined based on the differences between the book values and tax bases of assets and liabilities, using tax rates in effect for the years in which the differences are expected to reverse. A valuation allowance is provided to offset any deferred tax assets if, based upon the relevant facts and circumstances, it is more likely than not that some or all of the deferred tax assets will not be realized. U.S. income taxes are generally not provided on undistributed earnings of U.S.-owned foreign subsidiaries as such earnings are considered permanently invested in the foreign jurisdictions. The Company's liability for uncertain tax positions represents open tax return positions and tax assessments received and are reflected in Accrued expenses and other liabilities and offsets to deferred tax assets. The Company's chassis leasing business is primarily domiciled in the United States. Therefore, its income is primarily subject to United States taxation. Domestic and foreign pre-tax income was as follows: Year ended December 31 2015 2014 2013 Domestic $ $ ) $ ) Foreign ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total $ $ ) $ ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ The provision (benefit) for income taxes is comprised of the following: Year ended December 31 2015 2014 2013 Current taxes: Federal $ $ ) $ State ) Foreign ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total current taxes ) ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Deferred taxes: Federal ) State ) Foreign ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total deferred taxes ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total provision (benefit) for income taxes $ $ ) $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ The increase in the tax provision in 2015 compared to 2014 was due to the increase in the Company's earnings. The decrease in the tax provision in 2014 compared to 2013 was due primarily to the Company recognizing for tax purposes in 2013 a $56,120 gain from the distribution of stock in a related company. The recognized gain was fully offset by net operating loss carryforwards. A reconciliation of the U.S. statutory tax rate to the effective tax rate for continuing operations follows: Year ended December 31 2015 2014 2013 U.S. statutory rate % % % State taxes ) Foreign earnings taxed at other than 35% ) ) Gain — — ) Changes in uncertain tax positions — ) ) Valuation allowances — ) Permanent tax items ) Other — — — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Effective tax rate % % )% ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ In all years the effective tax rate differs from the U.S. federal tax rate of 35% due to state and local income taxes and foreign earnings. In 2015 the effective tax rate decreased due to the significant increase in domestic pre-tax income relative to worldwide earnings. In addition, in 2014, the effective tax rate decreased due to an increase in an uncertain state tax position. In 2013, permanent differences between book and tax treatment of certain items including a recognized gain from the distribution of stock in a related company significantly increased the effective tax rate. The tax gain resulted from the difference between the fair market value of the stock at the time of the distribution and the stock's historical tax basis. The transaction that produced the gain for income tax purposes did not result in a corresponding book gain. This difference is reflected in the significant decrease in the Company's effective tax rate for 2013. Significant components of deferred tax assets and liabilities were as follows: December 31 2015 2014 Deferred tax assets: Loss carryforwards $ $ Derivative instruments Other ​ ​ ​ ​ ​ ​ ​ ​ Deferred tax assets Valuation allowance ) ) ​ ​ ​ ​ ​ ​ ​ ​ Total deferred tax assets ​ ​ ​ ​ ​ ​ ​ ​ Deferred tax liabilities: Operating property, net Derivative Instruments ​ ​ ​ ​ ​ ​ ​ ​ Total deferred tax liabilities ​ ​ ​ ​ ​ ​ ​ ​ Net deferred tax liabilities $ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Through December 31, 2015, the Company has incurred passive activity loss ("PALs") and net operating loss ("NOLs") carryforwards of approximately $228,931 and $538,574, respectively, for U.S. federal and state income tax purposes. The PALs can be carried forward indefinitely to offset income generated from future leasing activities. The remaining $538,574 of NOLs can be carried forward to offset any income from future leasing activities or other future non-leasing taxable income (i.e., dividends, interest, and capital gain income). The NOL carryforward will not begin to expire until 2028. After considering the future reversal of its existing taxable temporary differences coupled with the tax planning strategies, the Company does not believe a valuation allowance is required for federal taxes with respect to these PALs or NOLs. However, as of December 31, 2015 and 2014, the Company has a valuation allowance recorded of $199 and $2,205, respectively, relating to state NOL and capital loss carryforwards which have a remaining expiration period of five years or less. A reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows: Balance at December 31, 2013 $ Change during 2014 ​ ​ ​ ​ ​ Balance at December 31, 2014 Change during 2015 — ​ ​ ​ ​ ​ Balance at December 31, 2015 $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As of December 31, 2015, 2014 and 2013 the Company had $706, $696 and $152 of unrecognized tax benefits (comprised of unrecognized tax benefits and associated interest and penalties), all of which, if recognized, would favorably affect the Company's effective tax rate. The Company recognizes accrued interest and penalties related to unrecognized tax benefits in income tax expense. During the years ended December 31, 2015, 2014 and 2013, the Company recognized approximately $16, $94 and $9, respectively, in interest and penalties. The Company does not anticipate any material reversals of its recorded uncertain tax positions in the subsequent twelve month period. The Company's 2012 to 2014 federal income tax returns and 2011 to 2014 state tax returns remain subject to examination. The Company does not expect the outcome of any federal or state examinations to have a material impact on the Consolidated Financial Statements. In addition, the Company's NOLs generally remain subject to potential examination until three years from their utilization year regardless of their year of origin. As of December 31, 2015, 2014 and 2013 the cumulative undistributed foreign earnings were approximately $4,306, $2,610 and $1,098, respectively. Determining the unrecognized deferred tax liability for these undistributed foreign earnings is not practical. The Company reinvests its earnings in Mexico into its local operations and does not have a domestic need to reinvest such earnings. As such the Company considers all of its foreign earnings to be permanently invested in the foreign jurisdictions.

Accumulated Other Comprehensive

Accumulated Other Comprehensive Loss	12 Months Ended
	Dec. 31, 2015
Accumulated Other Comprehensive Loss.
Accumulated Other Comprehensive Loss	11. Accumulated Other Comprehensive Loss Accumulated other comprehensive loss ("AOCI") includes the changes in the fair value of derivative instruments, reclassification into earnings of amounts previously deferred relating to derivative instruments and foreign currency translation gains and losses primarily relating to the Company's Canadian operation. The components of Accumulated comprehensive (loss), net of tax, are as follows: Unrealized Gain (Loss) on Derivative Instruments Net Derivative Loss to be Reclassified into Earnings Foreign Currency Translation Total Accumulated Other Comprehensive Loss Balance, December 31, 2012 $ — $ ) $ $ ) Current-period other comprehensive income (loss) ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Balance, December 31, 2013 $ $ ) $ ) $ ) Current-period other comprehensive (loss) income ) ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Balance, December 31, 2014 $ $ ) $ ) $ ) Current-period other comprehensive (loss) income ) ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Balance, December 31, 2015 $ $ ) $ ) $ ) The amount of loss expected to be reclassified from AOCI interest expense over the next twelve months consists of net interest settlements on an active interest rate derivative in the amount of $208 (which is net of tax of $135) and amortization of deferred losses on the Company's terminated derivatives of $9,934 (which is net of tax of $6,424). The following table presents the effects of reclassifications out of AOCI and into the Consolidated Statement of Income: Year ended December 31, Income Statement Line Item 2015 2014 2013 Total loss in AOCI reclassifications for previously unrealized net losses on terminated derivatives Interest expense $ $ $ Related income tax benefit Benefit for income taxes ) ) ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net loss reclassified out of AOCI $ $ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Share-Based Payment

Share-Based Payment	12 Months Ended
	Dec. 31, 2015
Share-Based Payment
Share-Based Payment	12. Share-Based Payments Restricted Stock Awards—SCT Chassis, Inc. On March 28, 2012, the Company's indirect parent, SCT Chassis, Inc. increased its authorized share capital to 71,000,000 common shares, par value $0.01 per share. SCT Chassis, Inc. issued 68,459,471 common shares to its parent, Seacastle Inc. who previously held 200 shares. During 2012, Interpool purchased 584,410 shares of common stock of SCT Chassis, Inc. at fair market value for a total of $3,615 for use in its newly created stock incentive program for key employees. As a result of these transactions, SCT Chassis, Inc. has 69,044,081 common shares outstanding. The fair value of these shares was determined by a valuation by the Board of Directors of Seacastle Inc. In determining fair market value, the Board of Directors relies on a number of valuation approaches including the market-based approach using current market multiples as well as the income approach utilizing a discounted cash flow analysis. On March 1, 2013, 27,599 restricted shares of SCT Chassis, Inc. were granted at a fair value of $7.15 per share or a total fair value of $197. Of this grant 6,900 shares vested immediately, with the remainder vesting in equal increments on January 1, 2014, 2015 and 2016. On May 1, 2013, 21,570 restricted shares of SCT Chassis, Inc. were granted at a fair value of $7.63 per share or a total fair value of $165. These shares will vest in equal increments on January 1, 2014, 2015, 2016 and 2017. Finally, on December 1, 2013, 50,000 restricted shares of SCT Chassis, Inc. were granted at a fair value of $7.63 per share or a total fair value of $382. These shares will vest in equal increments on January 1, 2014, 2015, 2016 and 2017. No shares were granted during the year ended December 31, 2014. During the year ended December 31, 2015, 63,963 restricted shares of SCT Chassis, Inc. were granted to key employees at a weighted average fair value of $10.52 per share for a total fair value of $673. Of these shares, 14,702 shares vested immediately with the remaining 49,261 shares vesting in equal increments on January 1, 2016, 2017, 2018 and 2019. The Management Shareholder Agreements also provided for additional grants of 1,096,954 restricted shares if certain performance conditions were achieved or if certain market conditions were met following a liquidity event. No compensation expense has been recorded since achievement of these conditions was not considered probable. As of December 31, 2015, the time allowed to achieve the performance and market conditions has expired. As of December 31, 2015 the total number of shares authorized for grant under this plan was 2,470,012 with 2,009,891 shares available for future grant. During the years ended December 31, 2015, 2014 and 2013, the Company recorded share-based compensation expense of $625, $810 and $1,181, respectively. Compensation expense is recorded as a component of Selling, general and administrative expense in the Company's Consolidated Statements of Operations and is recognized on a straight-line basis with the compensation cost recognized as of any date being at least equal to the portion of the grant-date fair value that is vested at that date. Total unrecognized compensation cost was approximately $478 at December 31, 2015, which is expected to be recognized over the remaining weighted-average vesting period of 1.7 years. Non-vested Shares Shares Weighted- Average Grant Date Fair Value per share Fair Value of Shares at Grant Date Non-vested at December 31, 2012 $ $ Granted Forfeited ) ) Vested ) ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Non-vested at December 31, 2013 $ $ Granted — — — Forfeited ) ) Vested ) ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Non-vested at December 31, 2014 $ $ Granted Forfeited — — — Vested ) ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Non-vested at December 31, 2015 $ $ Stock Repurchases During the year ended December 31, 2015, Interpool purchased 53,972 shares of SCT Chassis, Inc. common stock from employees to meet their minimum statutory withholding requirements upon share vesting. The cost of these shares was $594 and is included in Member's interest in the Consolidated Balance Sheet. Stock Sales to Indirect Parent On October 8, 2015, Seacastle, Inc. purchased 78,414 restricted shares of SCT Chassis, Inc. from Interpool at $12.67 per share for a total of $993.

Segment and Geographic Informat

Segment and Geographic Information	12 Months Ended
	Dec. 31, 2015
Segment and Geographic Information
Segment and Geographic Information	13. Segment and Geographic Information The Company's principal business operations consist of the leasing of intermodal transportation equipment. The Company provides such services to its customers through two operating and reportable segments, the Marine Market segment and the Domestic Market segment. The Company does not aggregate its operating segments. The reportable segments are based on the chassis markets that are served by the Company. Revenue and expenses not directly assigned to reportable segments, such as equipment repair and storage services performed at third-party facilities, certain headquarter-related expenses and certain maintenance, repair and positioning costs re-billed to customers are reflected in the Other category. Assets in the Other category are primarily made up of idle chassis and axle sets. Reporting under the aforementioned segment structure facilitates the Company's chief operating decision maker's ability to allocate resources and assess the Company's performance. The Marine Market segment provides marine chassis to the world's leading shipping lines and motor carriers. A marine chassis is typically 20', 40' or 45' in length and is used in the transport of dry or refrigerated marine shipping containers of the same size carrying goods between port terminals and/or railroad ramps and retail or wholesale warehouse or store locations. The Domestic Market segment provides domestic chassis to major U.S. intermodal transportation companies and Class 1 railroads. A domestic chassis is typically 53' in length and is used in the transport of domestic shipping containers of the same size carrying goods between railroad ramps and retail or wholesale warehouses or store locations. Product offerings in the Marine and Domestic Market segments include both short-term and long-term leasing arrangements. Short term or pool leasing arrangements operate under the concept of a chassis pool, which is similar to a car rental model, whereby the Company provides a shared pool of chassis at major intermodal transportation points such as port terminals and railroad ramps for use by multiple customers on an as-needed basis. Customers in pools generally enter into pool user agreements for a period of 1 to 3 years and may be subject to subscription levels for minimum chassis usage, known as minimum usage or subscription arrangements. The long-term and direct finance leasing arrangements typically represent long-term triple-net leases with fixed rate per diems, which require the lessee to pay all maintenance fees, insurance premiums and tax payments related to the equipment. Under a term lease, the Company retains the benefit and residual value of, and bears the risk of re-leasing the asset at the end of the lease term. Under a direct finance lease, the customer typically receives a bargain purchase option at the expiration of the lease. The accounting policies of the segments are the same as those described in Note 2; however, certain expenses are allocated among segments using metrics such as revenue, units in fleet, net book value of equipment or headcount. Given their relative significance to total assets and ability to be identified to reportable segments, leasing assets represents the most significant balance sheet item reviewed by the Company's chief operating decision maker. In accordance with FASB ASC 280-10 and because the Company's management views goodwill as a corporate asset, the Company does not allocate its goodwill balance to its reportable segments. However, in accordance with the provisions of FASB ASC 350, Intangibles—Goodwill and Other, the Company is required to allocate goodwill to each reporting unit in order to perform its annual impairment review of goodwill. See Note 6. The Company evaluates current and future projected segment performance and allocates resources to them primarily based upon Adjusted EBITDA. The Company defines EBITDA as income (loss) before income taxes, interest expense, depreciation and amortization expense, impairment of assets and leasing equipment, early retirement of leasing equipment, loss on modification and extinguishment of debt and capital lease obligations, other expense (income) and interest income. The Company defines Adjusted EBITDA as EBITDA excluding non-cash share-based compensation and principle collections on direct finance leases. Adjusted EBITDA helps management identify controllable expenses and make decisions designed to help the Company meet its current financial goals and optimize its financial performance. Accordingly, the Company believes this metric measures its financial performance based on operational factors that management can impact in the short-term, namely the cost structure and expenses of the organization. The following tables show segment information for the years ended December 31, 2015, 2014 and 2013. 2015 Marine Market segment Domestic Market segment Other Total Term revenue $ $ $ — $ Pool revenue — All other revenue ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total revenue Adjusted EBITDA ) Depreciation expense Net investment in direct finance leases — Leasing equipment Capital expenditures for long-lived assets 2014 Marine Market segment Domestic Market segment Other Total Term revenue $ $ $ — $ Pool revenue — All other revenue ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total revenue Adjusted EBITDA ) Depreciation expense Net investment in direct finance leases — Leasing equipment Capital expenditures for long-lived assets 2013 Marine Market segment Domestic Market segment Other Total Term revenue $ $ $ — $ Pool revenue — All other revenue ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total revenue Adjusted EBITDA ) Depreciation expense Net investment in direct finance leases — Leasing equipment Capital expenditures for long-lived assets The following are reconciliations of the total measure of profit or loss to the Company's net loss. Year ended December 31 2015 2014 2013 Adjusted EBITDA $ $ $ Principal collections on direct finance leases, net of interest earned ) ) ) Non-cash share-based compensation ) ) ) Interest expense ) ) ) Depreciation expense ) ) ) Impairment of leasing equipment ) ) ) Early retirement of leasing equipment — ) — Loss on modification and extinguishment of debt and capital lease obligations ) ) ) Interest income Other income, net ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Income (loss) before provision (benefit) for income taxes ) ) Provision (benefit) for income taxes ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net income (loss) $ $ ) $ ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Geographic Information Primarily all of the Company's revenues and long-lived assets are attributable to the United States, the Company's country of domicile.

Defined Contribution Plan

Defined Contribution Plan	12 Months Ended
	Dec. 31, 2015
Defined Contribution Plan
Defined Contribution Plan	14. Defined Contribution Plan The Company has a defined contribution plan covering substantially all of its eligible employees. Participating employees may make contributions to the plan, through payroll deductions. The Company matches 100% of the employee's contribution to the extent such employee contribution did not exceed 6% of such employee's compensation. For the years ended December 31, 2015, 2014 and 2013, the Company contributed approximately $1,993, $1,961 and $1,283, respectively, to this plan. These amounts are included in Selling, general and administrative expenses on the Consolidated Statements of Operations.

Related Party Transactions

Related Party Transactions	12 Months Ended
	Dec. 31, 2015
Related Party Transactions
Related Party Transactions	15. Related Party Transactions Management, Facility Fees and Chassis Leasing Beginning in July 2007, management and facility fees have been allocated among affiliates of Seacastle Inc. Such allocations relate to expenses incurred and services performed by one affiliate on behalf of another affiliate. For the years ended December 31, 2015, 2014 and 2013, the Company reflected income of $124, $107 and $296, respectively, associated with such allocations. The Company believes the estimates and assumptions used in deriving such allocations are reasonable and would not be materially different if negotiated independently. Included in such amounts are expenses for share-based compensation allocated from Seacastle Inc., the Parent, relative to both dedicated and shared Seacastle Inc. employees. These amounts are recorded in Selling, general and administrative expenses on the Consolidated Statements of Operations. The Company has a net receivable from affiliates of $584 and $705 at December 31, 2015 and 2014, respectively, which is included in Other assets on the Consolidated Balance Sheets. The Company also leases chassis to the Florida East Coast railway ("FEC") under term lease and pool arrangements. The parent company to the FEC is Florida East Coast Industries, Inc., which is owned by private equity funds managed by affiliates of Fortress Investment Group LLC. For the years ended December 31, 2015, 2014 and 2013, the Company recorded revenue from FEC of $2,242, $1,766 and $1,028, respectively. In addition to the above, during 2013, the Company received a one-time stock distribution in a related company that resulted in a tax gain of $56.1 million without producing a corresponding book gain. The Company recorded a non-cash tax provision related to this gain of $22.1 million. The recognized tax gain was fully offset by net operating loss carryforwards.

Fair Value of Financial Instrum

Fair Value of Financial Instruments	12 Months Ended
	Dec. 31, 2015
Fair Value of Financial Instruments
Fair Value of Financial Instruments	16. Fair Value of Financial Instruments The Company applies the provisions included in the Fair Value Measurement Topic in the FASB ASC to all financial and non-financial assets and liabilities. This Topic emphasizes that fair value is a market-based measurement, not an entity-specific measurement. The objective of a fair value measurement is to estimate the price at which an orderly transaction to sell the asset or to transfer the liability would take place between market participants at the measurement date under current conditions (that is, an exit price) at the measurement date from the perspective of the market participant that holds the asset or owes the liability. The Topic requires the use of valuation techniques that are appropriate in the circumstances and for which sufficient data are available to measure fair value, maximizing the use of relevant observable inputs and minimizing the use of unobservable inputs. These inputs are prioritized as follows:  Level 1: Observable inputs such as quoted prices in active markets for identical assets or liabilities that the Company can access at the measurement date. A quoted price in an active market provides the most reliable evidence of fair value and shall be used without adjustment to measure fair value whenever available.  Level 2: Inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly. If the asset or liability has a specified (contractual) term, a Level 2 input must be observable for substantially the full term of the asset or liability. Level 2 inputs include quoted prices for similar assets or liabilities in active markets and inputs other than quoted prices that are observable for the asset or liability, such as interest rates and yield curves that are observable at commonly quoted intervals.  Level 3: Unobservable inputs for which there is little or no market data and which require internal development of assumptions about how market participants price the asset or liability. In developing unobservable inputs, the Company may begin with its own data, but it shall adjust those data if reasonably available information indicates that other market participants would use different data or there is something particular to the Company that is not available to other market participants. In determining fair value, the Company utilizes valuation techniques that maximize the use of observable inputs and minimize the use of unobservable inputs to the extent possible and considers counterparty credit risk and the Company's credit risk in its assessment of fair value. The following table sets forth the valuation of the Company's financial assets and liabilities measured at fair value on a recurring basis by the input levels (as defined) at the dates indicated: Fair Value as of December 31, Fair Value Measurement as of December 31, 2015 using Fair Value Hierarchy 2015 Level 1 Level 2 Level 3 Assets: Cash and cash equivalents $ $ $ — $ — Derivative instruments — — Fair Value as of December 31, Fair Value Measurement as of December 31, 2014 using Fair Value Hierarchy 2014 Level 1 Level 2 Level 3 Assets: Cash and cash equivalents $ $ $ — $ — Derivative instruments — — Cash and cash equivalents: Cash and cash equivalents include all cash balances and highly liquid investments having original maturities of three months or less at the time of purchase. These instruments are stated at cost, which approximates market value because of the short-term nature of the instruments. Derivative instruments: The Company's interest rate derivative was recorded at fair value in Other Assets on the Company's Consolidated Balance Sheets and consists of a United States dollar denominated LIBOR-based interest rate swap. Its fair value was determined using cash flows discounted at relevant market interest rates in effect at the period close. The fair value generally reflected the estimated amounts that the Company would receive or pay to transfer the contracts at the reporting date and therefore reflected the Company's or counterparty's non-performance risk. Additionally, the Company has analyzed each of the redemption features included in the Notes to determine whether any of these embedded features should be bifurcated in accordance with the Derivatives and Hedging Topic of the FASB ASC (ASC 815). The Company has concluded that the redemption feature which offers optional redemption by the Company of up to 35% of the aggregate principal amount of the Notes at a redemption price of 111% of the aggregate principal amount of the Notes using the cash proceeds of an equity offering qualifies as a feature that should be bifurcated under ASC 815. The Company has determined that the resulting measurement of the fair value of this derivative is immaterial to the consolidated financial statements, and will reassess the fair value of this derivative each reporting period with any changes recorded in earnings. Leasing equipment that is deemed to be impaired is measured at fair value on a non-recurring basis. The fair value is calculated using the income approach based on inputs classified as level 2 in the fair value hierarchy. The Company believes the carrying amounts of cash and cash equivalents, accounts receivable, accounts payable and accrued expenses and other liabilities approximates the fair value of these financial instruments because of their short-term nature. Debt: The Company's debt consists of fixed and floating rate instruments. Variable interest rate debt is $584,401 as of December 31, 2015 and $479,334 as of December 31, 2014. Variable interest rate debt in both years is net of $300,000 of variable rate debt which has been effectively converted to fixed rate debt through the use of an interest rate swap entered into with Deutsche Bank AG. Accordingly, the Company's variable rate debt approximates market value for similar instruments at the respective dates. The Company had fixed rate debt of $496,278 as of December 31, 2015 and $684,888 as of December 31, 2014. In order to estimate the fair value of its fixed rate debt, where quoted market prices were not available, the Company valued the instruments using a present value discounted cash flow analysis with a discount rate approximating current market rates of similar term debt at the end of each period. The discount rate used in the present value calculation was 4.90% at December 31, 2015 and 4.87% at December 31, 2014. Fair value was calculated based on inputs classified as Level 2 in the fair value hierarchy. The carrying amounts and fair values of the Company's financial instruments are as follows: December 31, 2015 December 31, 2014 Carrying Amount of Asset (Liability) Fair Value of Asset (Liability) Carrying Amount of Asset (Liability) Fair Value of Asset (Liability) Derivative instrument Total debt ) ) ) )

Guarantor Financial Information

Guarantor Financial Information	12 Months Ended
	Dec. 31, 2015
Guarantor Financial Information
Guarantor Financial Information	17. Guarantor Financial Information On August 9, 2012, TRAC along with TRAC Intermodal Corp., entered into a Purchase Agreement pursuant to which it sold $300,000 total principal amount of the Notes. Concurrent with the offering of the Notes, the Company entered into a registration rights agreement with investors which required the Company to file a registration statement with the Securities and Exchange Commission to offer exchange notes with terms substantially identical in all material respects to the Notes within 365 days of closing. The exchange offer commenced on June 6, 2013 and expired on July 5, 2013. Based on information provided by Wells Fargo Bank, N.A., the exchange agent for the exchange offer, as of the expiration date, $300,000 aggregate principal amount of the Notes were validly tendered for exchange, representing 100% of the principal amount of the outstanding Notes. The Notes are jointly and severally guaranteed unconditionally on a senior secured basis by all of the Issuer's existing and future wholly-owned domestic subsidiaries, with certain exceptions. All guarantor subsidiaries are 100% owned by the Issuer. On August 17, 2015, the Company redeemed $150,000 aggregate principal amount of the Notes. See Note 7 to the Consolidated Financial Statements. TRAC Intermodal LLC Condensed Consolidating Balance Sheet December 31, 2015 Issuer Parent Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Consolidated Assets Cash and cash equivalents $ — $ $ $ — $ Accounts receivable, net — — Net investment in direct finance leases — — ) Leasing equipment, net of accumulated depreciation — — Goodwill — — — Affiliate and intercompany receivable — — ) Intercompany interest receivable — — ) — Intercompany note receivable — — ) — Investment in subsidiary — ) Other assets — — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total assets $ $ $ $ ) $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Liabilities member's interest Accounts payable, accrued expenses and other liabilities $ $ $ $ — $ Intercompany payable — — ) — Intercompany note payable — — ) — Intercompany interest payable — — ) — Intercompany lease payable — — ) — Deferred income taxes, net — — Debt and capital lease obligations less debt issuance costs — — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total liabilities ) Total member's interest ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total liabilities and member's interest $ $ $ $ ) $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ TRAC Intermodal LLC Condensed Consolidating Statements of Operations and Comprehensive Income For The Year Ended December 31, 2015 Issuer Parent Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Consolidated Total revenue $ — $ $ $ ) $ Direct operating expenses — — Selling, general and administrative expenses — — Depreciation expense — — Recovery for doubtful accounts — ) — — ) Impairment of leasing equipment — — — Loss on modification and extinguishment of debt and capital lease obligations — — — Interest expense ) Interest income ) ) — ) Equity in earnings of subsidiary ) ) — — Other income, net — ) ) — ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total expenses ) Income before provision for income taxes ) Provision for income taxes — — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net income ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Unrealized gain on derivative instruments, net of tax of $601 — ) — — ) Derivative loss reclassified into earnings, net of tax of ($7,920) — — — Foreign currency translation loss, net of tax of $636 — ) — — ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total other comprehensive income — — — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total comprehensive income $ $ $ $ ) $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ TRAC Intermodal LLC Condensed Consolidating Statement of Cash Flows For The Year Ended December 31, 2015 Issuer Parent Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Consolidated Net cash provided by operating activities $ — $ $ $ $ Investing activities: Proceeds from sale of leasing equipment — — — Collections on net investment in direct finance leases, net of interest earned — — ) Proceeds from sale of other assets, net of other investing activities — — — Purchase of leasing equipment — ) — — ) Purchase of fixed asset — ) — — ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net cash used in investing activities — ) — ) ) Financing activities: Proceeds from long-term debt — — — Repayment of long-term debt — ) — — ) Cash paid for debt issuance fees — ) — — ) Premium paid for redemption of notes — ) — — ) Sale of investment in indirect parent — — — Repurchase of shares from employees — ) — — ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net cash used in financing activities — ) — — ) Effect of changes in exchange rates on cash and cash equivalents — ) — — ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net (decrease) increase in cash and cash equivalents — ) — ) Cash and cash equivalents, beginning of period — — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Cash and cash equivalents, end of period $ — $ $ $ — $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ TRAC Intermodal LLC Condensed Consolidating Balance Sheet December 31, 2014 Issuer Parent Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Consolidated Assets Cash and cash equivalents $ — $ $ $ — $ Accounts receivable, net — — Net investment in direct finance leases — — ) Leasing equipment, net of accumulated depreciation — — Goodwill — — — Affiliate and intercompany receivable — ) Intercompany interest receivable — — ) — Intercompany note receivable — — ) — Investment in subsidiary — ) — Other assets — — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total assets $ $ $ $ ) $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Liabilities member's interest Accounts payable, accrued expenses and other liabilities $ $ $ $ — $ Intercompany payable — — ) — Intercompany note payable — — ) — Intercompany interest payable — — ) — Intercompany lease payable — — ) — Deferred income taxes, net — — Debt and capital lease obligations less debt issue costs — — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total liabilities ) Total member's interest ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total liabilities and member's interest $ $ $ $ ) $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ TRAC Intermodal LLC Condensed Consolidating Statements of Operations and Comprehensive (Loss) Income For The Year Ended December 31, 2014 Issuer Parent Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Consolidated Total revenue $ — $ $ $ ) $ Direct operating expenses — — Selling, general and administrative expenses — — Depreciation expense — — Provision for doubtful accounts — — — Impairment of leasing equipment — — — Early retirement of leasing equipment — — — Loss on modification and extinguishment of debt and capital lease obligations — — — Interest expense ) Interest income ) ) — ) Equity in earnings of subsidiary ) — ) — Other income, net — ) — — ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total expenses ) (Loss) income before (benefit) provision for income taxes ) ) ) (Benefit) provision for income taxes — ) — ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net (loss) income ) ) ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Unrealized gain on derivative instruments, net of tax of $585 — ) — — ) Derivative loss reclassified into earnings, net of tax of ($7,265) — — — Foreign currency translation loss, net of tax of $364 — ) — — ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total other comprehensive income — — — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total comprehensive (loss) income $ ) $ $ $ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ TRAC Intermodal LLC Condensed Consolidating Statement of Cash Flows For The Year Ended December 31, 2014 Issuer Parent Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Consolidated Net cash provided by operating activities $ — $ $ $ $ Investing activities: Proceeds from sale of leasing equipment — — — Collections on net investment in direct finance leases, net of interest earned — — ) Purchase of leasing equipment — ) — — ) Purchase of fixed asset — ) — — ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net cash used in investing activities — ) — ) ) Financing activities: Proceeds from long-term debt — — — Repayment of long-term debt — ) — — ) Cash paid for debt issuance fees — ) — — ) Repurchase of shares from employees — ) — — ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net cash used in financing activities — ) — — ) Effect of changes in exchange rates on cash and cash equivalents — ) — — ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net (decrease) increase in cash and cash equivalents — ) — ) Cash and cash equivalents, beginning of period — — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Cash and cash equivalents, end of period $ — $ $ $ — $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ TRAC Intermodal LLC Condensed Consolidating Statements of Operations and Comprehensive (Loss) Income For The Year Ended December 31, 2013 Issuer Parent Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Consolidated Total revenue $ — $ $ $ ) $ Direct operating expenses — — Selling, general and administrative expenses — — Depreciation expense — — Provision for doubtful accounts — — — Impairment of leasing equipment — — — Loss on modification and extinguishment of debt and capital lease obligations — — — Interest expense ) Interest income ) ) — ) Equity in earnings of subsidiary ) — ) — Other income, net — ) ) — ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total expenses ) (Loss) income before provision for income taxes ) ) ) Provision for income taxes — — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net (loss) income ) ) ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Unrealized gain on derivative instruments, net of tax of ($1,313) — — — Derivative loss reclassified into earnings, net of tax of ($7,774) — — — Foreign currency translation loss, net of tax of $398 — ) — — ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total other comprehensive income — — — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total comprehensive (loss) income $ ) $ ) $ $ $ ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ TRAC Intermodal LLC Condensed Consolidating Statement of Cash Flows For The Year Ended December 31, 2013 Issuer Parent Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Consolidated Net cash provided by (used in) operating activities $ — $ $ ) $ $ Investing activities: Proceeds from sale of leasing equipment — — — Collections on net investment in direct finance leases, net of interest earned — — ) Purchase of leasing equipment — ) — — ) Purchase of fixed asset — ) — — ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net cash used in investing activities — ) — ) ) Financing activities: Proceeds from long-term debt — — — Repayment of long-term debt — ) — — ) Cash paid for debt issuance fees — ) — — ) Excess tax benefits—restricted shares — — — Repurchase of shares from employees — ) — — ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net cash provided by financing activities — — — Effect of changes in exchange rates on cash and cash equivalents — ) — — ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net decrease in cash and cash equivalents — ) ) — ) Cash and cash equivalents, beginning of period — — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Cash and cash equivalents, end of period $ — $ $ $ — $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Subsequent Events

Subsequent Events	12 Months Ended
	Dec. 31, 2015
Subsequent Events
Subsequent Events	18. Subsequent Events Retirement of Shares and subsequent Dividend Declaration On January 14, 2016, the Company borrowed $52.0 million (the "Borrowing") under the revolving credit facility of the ABL Facility. The Borrowing was used to finance the repurchase and retirement of 62 shares, par value $0.01 per share, of the common stock of Interpool, Inc. held by the Company, the sole stockholder of Interpool, Inc., at an aggregate purchase price of approximately $51.0 million (the "Repurchase Amount"). The Repurchase Amount was received pro rata, through a successive chain of dividends, by the Company's indirect shareholders of record, including certain private equity funds that are managed by an affiliate of Fortress Investment Group LLC, employees of affiliates of Seacastle Inc. (the Company's indirect parent) and members of the Company's management. New Interest Rate Swaps On February 4, 2016, the Company executed two interest rate swap agreements with Deutsche Bank effectively converting $50.0 million of variable rate debt based upon LIBOR into a fixed rate of 1.063% per annum. The agreement will terminate on December 10, 2020 at the same time our ABL agreement terminates. Additionally, the Company executed a $300.0 million forward interest rate swap agreement. This agreement begins in August 9, 2017 when our existing $300.0 million swap agreement ends. At that time, we will effectively convert $300 million of variable rate debt based upon LIBOR into a fixed rate of 1.2985%. On February 5, 2016, the Company executed an interest rate swap with PNC Bank effectively converting $100 million of variable rate debt based upon LIBOR into a fixed rate of 1.1175%. The agreement will terminate December 10, 2020 at the same time our ABL agreement terminates. Interstar Acquisition On February 29, 2016, TRAC Interstar LLC ("TRAC Interstar"), a newly formed, indirect wholly owned subsidiary of the Company, acquired the assets of the Emergency Road Service Business of Interstar Mobile, LLC and Interstar North America, Inc. (collectively "Interstar") for a purchase price of $5.7 million which includes a $1.0 million earn-out provision based on future operating performance. Interstar, located in Kentucky, is a leading provider of road service repair solutions for both the intermodal and commercial trucking industries. The new entity, TRAC Interstar, combines a dispatch center and one of the country's largest managed vendor networks and will provide roadside repair services covering chassis, truck and trailer breakdowns 24 hours a day, 7 days a week, 365 days a year. Tire Purchase Commitments Contemporaneous with the Interstar acquisition, the Company committed to purchase from an affiliate of the acquired company 45,000 tires annually for a period of five years. Initial prices for tire types were agreed upon but are subject to purchase price adjustments based on certain changes in the cost of raw materials used in the manufacturing process. Based on the initial pricing and an estimate of the types of tires to be purchased, the total purchase commitment over the five year term of the agreements is approximately $27.7 million.

SCHEDULE II Valuation and Quali

SCHEDULE II Valuation and Qualifying Accounts	12 Months Ended
	Dec. 31, 2015
SCHEDULE II Valuation and Qualifying Accounts
SCHEDULE II Valuation and Qualifying Accounts	SCHEDULE II TRAC Intermodal LLC Valuation and Qualifying Accounts Years ended December 31, 2015, 2014 and 2013 Allowance for Doubtful Accounts Beginning Balance Additions (Reversals) (Write-offs) Reversals Other Ending Balance For the year ended December 31, 2015 $ $ ) $ ) $ ) $ For the year ended December 31, 2014 $ $ $ ) $ ) $ For the year ended December 31, 2013 $ $ $ ) $ ) $

Summary of Significant Accoun28

Summary of Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2015
Summary of Significant Accounting Policies
Principles of Consolidation	Principles of Consolidation The Company's Consolidated Financial Statements include the accounts of the Company and its subsidiaries, all of which are 100% owned. All significant intercompany transactions have been eliminated in consolidation.
Use of Estimates	Use of Estimates The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts and classification of assets and liabilities, and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenue and expense during the reporting period. Actual results may differ materially from those estimates.
Risk and Uncertainties	Risk and Uncertainties In the normal course of business, the Company encounters two significant types of economic risk: credit and market. Credit risk is the risk of a lessee's inability or unwillingness to make contractually required payments. The Company is subject to concentrations of credit risk with respect to amounts due from customers. The Company attempts to limit its credit risk by performing ongoing credit evaluations and, when deemed necessary, requires letters of credit, guarantees or collateral. For the years ended December 31, 2015, 2014 and 2013, the Company earned approximately 41%, 45% and 52% of revenues from its top ten customers, respectively. The Company's largest customer accounted for approximately 7%, 6% and 7% of total revenues in 2015, 2014 and 2013, respectively. These revenues are included in the Domestic Market segment for 2015 and the Marine Market segment for 2014 and 2013. Based on balances due at December 31, 2015, the maximum amount of loss the Company would incur if this customer failed completely to perform according to the terms of their contracts would be $4,526. While the Company believes that it has properly reserved for uncollectible accounts receivable, it is possible that the Company may experience longer collection cycles. Although the Company is not dependent on any one customer for more than 7% of its revenue, deterioration in credit quality of several of the Company's major customers could have an adverse effect on its consolidated financial position and operating results. Management does not believe significant risk exists in connection with the Company's concentrations of credit as of December 31, 2015. The Company also has a concentration of credit within its direct finance lease portfolio. The Company's top three customers account for $12,197, $14,592 and $21,893 of the outstanding principal at December 31, 2015, 2014 and 2013, respectively which represents approximately 95%, 90% and 87% of the outstanding principal in those years. The Company does not record an allowance for credit losses associated with direct finance leases. If any of these customers were to default, the Company would seek to recover the equipment securing the lease, often at fair market values in excess of the remaining receivable. Historically, the Company has not experienced losses related to direct finance leases and does not project future uncollectible amounts related to the principal balances receivable. Market risk reflects the change in the value of derivatives and financings due to changes in interest rate spreads or other market factors, including the value of collateral underlying debt investments and financings. The Company believes that the carrying values of its investments and derivative obligations are reasonable taking into consideration these risks, along with estimated collateral values, payment histories and other relevant financial information.
Cash and Cash Equivalents	Cash and Cash Equivalents Cash and cash equivalents include all cash balances and highly liquid investments having original maturities of three months or less at the time of purchase. These instruments are stated at cost, which approximates market value because of the short-term nature of the instruments.
Direct Finance Leases	Direct Finance Leases Direct finance leases are recorded at the aggregated future minimum lease payments, including any bargain or economically compelled purchase options granted to the customer, less unearned income. The Company generally bears greater risk in operating lease transactions (versus direct finance lease transactions) due to redeployment costs and related risks that are shifted to the lessee under a direct finance lease. Management performs annual reviews of the estimated residual values which can vary depending on a number of factors.
Leasing Equipment	Leasing Equipment Leasing equipment is primarily comprised of marine and domestic chassis. All equipment is recorded at cost and depreciated to an estimated residual value on a straight-line basis over the estimated useful life of the equipment. Estimated useful lives and residual values have been principally determined based on the Company's historical disposal and utilization experience. The estimated useful lives and average residual values for the Company's Leasing equipment from the date of manufacture are as follows: Useful Lives (Years) Residual Values (in Dollars) Chassis 20.0 - 22.5 $ The Company will continue to review its depreciation policies on a regular basis to determine whether changes have taken place that would suggest that a change in its depreciation policies, useful lives of its equipment or the assigned residual values is warranted. The Company recognizes repair and maintenance costs that do not extend the lives of the assets as incurred and includes such costs in Direct operating expenses in the Consolidated Statements of Operations. Also included in Depreciation of leasing equipment is the depreciation on assets recorded under capital leases.
Remanufacture / Refurbishment of Leasing Equipment	Remanufacture / Refurbishment of Leasing Equipment Chassis are long-lived assets, with an economic life of approximately 20 years for domestic chassis and 22.5 years for marine chassis. Older chassis can generally be remanufactured at the end of their useful life to provide 20 or more additional years of service rather than be replaced by new equipment. Remanufacturing provides a material cash savings compared to the cost of purchasing a new chassis. The remanufacturing process can bring an aged chassis up to a "like new" condition, and customers typically do not differentiate between new and remanufactured chassis. In addition to the cost savings, an additional benefit is that an older chassis can be remanufactured into any size unit, which provides excellent flexibility to meet demands of different equipment types as the market changes. Remanufacturing costs are capitalized and depreciated over the new useful life of the equipment. Remanufacturing costs capitalized totaled $41,211, $40,214 and $4,038 for the years ended December 31, 2015, 2014 and 2013, respectively. Alternatively, chassis meeting certain age and condition criteria can be refurbished. Refurbishments reflect improvements that go beyond preventive maintenance and normal repairs, thus serving to increase the cash flow generating capability of the refurbished asset. Cash flows are enhanced through extending the useful life of the asset or otherwise altering its structural state to be more marketable. Refurbishment costs are capitalized and depreciated over the remaining / extended useful life of the equipment. Refurbishment costs capitalized totaled $12,701, $2,712 and $3,124 for the years ended December 31, 2015, 2014 and 2013, respectively.
Impairment of Leasing Equipment	Impairment of Leasing Equipment In accordance with the Property, Plant and Equipment Topic of the Financial Accounting Standards Board, Accounting Standards Codification, (the "FASB ASC"), the Company reviews its leasing assets for impairment when events or changes in circumstances indicate that the carrying amount of the asset group as a whole may not be recoverable. If indicators of impairment are present, a determination is made as to whether the carrying value of the Company's fleet exceeds its estimated future undiscounted cash flows. Impairment exists when the carrying value of leasing assets taken as a whole exceeds the sum of the related undiscounted cash flows. The Company's review for impairment includes considering the existence of impairment indicators including third-party appraisals of its equipment, adverse changes in market conditions or the future utility of specific long-lived assets, shrinkage and the occurrence of significant adverse changes in general industry and market conditions that could affect the fair value of its equipment. When indicators of impairment suggest that the carrying value of its leasing assets may not be recoverable, the Company determines whether the impairment recognition criteria have been met by evaluating whether the carrying value of the leasing assets taken as a whole exceeds the related undiscounted future cash flows expected to result from the use and eventual disposition of the asset group. The preparation of the related undiscounted cash flows requires the use of assumptions and estimates, including the level of future rents, and the residual value expected to be realized upon disposition of the assets, estimated downtime between re-leasing events and the amount of re-leasing costs. If the Company determines that the carrying value may not be recoverable, it will assess the fair value of the assets. In determining the fair value of the assets, the Company considers market trends, published values for similar assets, recent transactions of similar assets and quotes from third-party appraisers. If the carrying amount of an asset group exceeds its fair value, an impairment charge is recognized in the amount by which the carrying amount of the asset group exceeds the fair value of the asset group.
Property and Equipment	Property and Equipment Property and equipment is recorded at cost less accumulated depreciation. In accordance with the Property, Plant and Equipment Topic of the FASB ASC, the Company reduces the carrying amount for property and equipment that has been impaired to the estimated fair value at the impairment date. Property and equipment is included in Other assets in the Consolidated Balance Sheets. The Company capitalizes significant improvements and the Company charges repairs and maintenance costs that do not extend the lives of the assets to expense as incurred. The Company removes the cost and accumulated depreciation of assets sold or otherwise disposed of from the accounts and recognizes any resulting gain or loss upon the disposition of the assets. The Company depreciates the cost of property and equipment over their estimated useful lives on a straight-line basis as follows: buildings—40 years; furniture and fixtures—3 to 7 years; computers and office equipment—3 to 5 years; capitalized development costs for internal use software—7 years; and other property and equipment—3 to 10 years.
Capitalized Software	Capitalized Software In accordance with FASB ASC Topic 350-40 "Internal Use Software", the Company capitalizes certain computer software and software development costs incurred in connection with developing or obtaining computer software for internal use when both the preliminary project stage is completed and it is probable that the software will be used as intended. Capitalized software costs include only (i) external direct costs of materials and services utilized in developing or obtaining computer software, (ii) compensation and related benefits for employees who are directly associated with the software project and (iii) interest costs incurred while developing internal-use computer software. Capitalized software costs are included in Other assets in the Consolidated Balance Sheets and amortized on a straight-line basis when placed into service over the estimated useful lives of the software, approximately 7 years. Goodwill
Goodwill	Goodwill Goodwill represents the excess of purchase price and related costs over the value assigned to the net tangible and identifiable intangible assets of businesses acquired. In accordance with the Intangibles—Goodwill and Other Topic of the FASB ASC, goodwill is not amortized, but instead is tested for impairment at the reporting unit level annually or more frequently if events or changes in circumstances indicate that the asset might be impaired. Management has determined that there are two reporting units, the Marine Market segment and the Domestic Market segment. For the purpose of testing goodwill for impairment, the goodwill balance has been assigned to these two reporting units using a relative fair value allocation approach. The Company evaluates the recoverability of goodwill using a two-step impairment test approach. In the first step, the reporting units' fair value is compared to its carrying value including goodwill. Fair value of the reporting unit is estimated using a discounted cash flow analysis which is based on current operating budgets and long-range projections. The assumptions for the projections are based on management's historical experience, as well as their future expectations of market conditions. Estimated cash flows are discounted based on market comparable weighted-average cost of capital rates derived from the capital asset pricing model. The inputs to the model were primarily derived from publicly available market data. Although management uses the best estimates available, if actual results fall below the estimated budgets and long range projections used for the fair value calculation or cost of capital rates differ from the inputs used to calculate discounted cash flow, a different outcome could result. If the fair value of the reporting unit is less than the carrying value, a second step is performed which compares the implied fair value of the reporting units' goodwill to the carrying value of the goodwill. The implied fair value of the goodwill is determined based on the difference between the fair value of the reporting unit and the net fair value of the identifiable assets and liabilities. If the implied fair value of the goodwill is less than the carrying value, the difference is recognized as an impairment charge.
Comprehensive Income (Loss)	Comprehensive Income (Loss) Comprehensive income (loss) consists of net income (loss) and other gains and losses, net of tax, if any, affecting Member's interest that, under U.S. GAAP, are excluded from net income. Such amounts include the changes in the fair value of derivative instruments, reclassification into earnings of amounts previously deferred relating to derivative instruments and foreign currency translation gains and losses primarily relating to the Company's Canadian and Mexican operations.
Share-Based Compensation	Share-Based Compensation Certain key employees are the recipients of employment agreements that have restricted stock benefits. The Company has recognized compensation expense relating to these share-based awards in the Consolidated Statements of Operations based upon the fair value of the equity instruments at the time they were issued. The Company uses a straight-line method of accounting for the compensation expense on share-based payment awards that contain pro rata vesting provisions with the compensation expense recognized as of any date being at least equal to the portion of the grant-date fair value that is vested at that date. The Company expects to settle with affiliates all management fees, including these awards, in cash. Such employment agreements also provide for additional grants of restricted stock upon the achievement by the Company of certain performance conditions or a certain market condition following a liquidity event. The grant-date fair value of these awards would be recognized as compensation expense over the implicit service period once it is probable that the performance conditions will be achieved.
Foreign Currency Translation	Foreign Currency Translation The net assets and results of operations of the Company's foreign operations (primarily Canada) have been translated at the rates of exchange in effect at the respective period end for the Consolidated Balance Sheets and at a weighted-average of the exchange rates for the respective period for the Consolidated Statements of Operations. The effects of changes in exchange rates in translating the financial statements of foreign subsidiaries are included in the Consolidated Statements of Comprehensive Income and in Accumulated other comprehensive loss ("AOCI") on the Consolidated Balance Sheets. The Company has determined that the U.S. dollar is its functional currency; therefore, all gains and losses resulting from translating foreign currency transactions into the functional currency are included in income.
Management Services	Management Services In addition to leasing equipment, which the Company owns or finances through capital lease obligations, the Company's customers are turning to outside service companies to help them manage chassis that they own and lease. The Company offers management services through an internally developed proprietary software system, known as "PoolStat®". During the period that the Company is managing the equipment for its customers, the Company earns a management fee. This fee income is recognized as services are rendered and is included in Other revenue in the Consolidated Statements of Operations.
Derivative Instruments and Hedging Activities	Derivative Instruments and Hedging Activities The Company accounted for derivative instruments in accordance with the Derivatives and Hedging Topic of the FASB ASC. The FASB ASC requires that all derivative instruments be recorded on the balance sheet at their fair value and establishes criteria for both the designation and effectiveness of hedging activities. The Company had entered into derivative instruments in the form of interest rate swaps, which were used to reduce its interest rate risk. Through these interest rate swaps, the Company received floating rate payments in exchange for fixed rate payments, effectively converting its floating rate debt to a fixed rate. As a matter of policy, the Company does not enter into derivative instruments for speculative purposes. The manner in which a derivative instrument is recorded depends on whether it qualifies for hedge accounting. The Company applied hedge accounting and designated and accounted for its interest rate swap contracts as cash flow hedges. For effective cash flow hedges, changes in fair value were deferred and recorded in AOCI in the Consolidated Balance Sheets. The ineffective portion of cash flow hedges was recognized in earnings immediately and recorded in Interest expense in the Consolidated Statements of Operations. On August 9, 2012, in connection with the closing of the sale of the Original Notes and the asset based senior secured credit agreement (the "ABL Facility") and the repayment of the $630,000 senior secured credit agreement with BNP Paribas CC, Inc. (f/k/a Fortis Capital Corp.) and a group of lenders with Fortis acting as the agent entered into on July 10, 2008 (the "Fortis Facility"), the Company terminated all of its interest rate derivatives. Balances in Accumulated other comprehensive loss for terminated derivatives are being reclassified into earnings over the remaining life of the item previously hedged. Terminated interest rate derivatives are reviewed periodically to determine if the forecasted transactions remain probable of occurring. If the forecasted transactions were deemed remote, the related portion of the gain or loss associated with the terminated derivative included in AOCI would be recognized in the Consolidated Statement of Operations immediately. On January 10, 2013, the Company entered into an interest rate swap transaction with Deutsche Bank AG. See also Notes 8, 11, 16 and 18 for further information.
Revenue Recognition	Revenue Recognition The Company's primary sources of equipment leasing revenue are derived from operating leases and revenue earned on direct finance leases.
Revenue Recognition-Equipment Leasing Revenue	Revenue Recognition—Equipment Leasing Revenue The Company generates equipment leasing revenue through short-term and long-term operating leases, principally with shipping lines and North American rail and trucking companies. In the majority of its transactions, the Company acts as the lessor of leasing equipment for a specified period of time and at a specified per diem rate. Revenue is recognized on a straight-line basis over the life of the respective lease for term leases. Subscription agreements typically contain periodic pricing and minimum chassis usage reset features. Revenue associated with such agreements is recognized on a straight line basis for committed quantities at contractual rates.
Revenue Recognition-Finance Revenue	Revenue Recognition—Finance Revenue The Company enters into direct finance leases as lessor of equipment that it owns. In most instances, the leases include a bargain purchase option which allows the customer to purchase the leased equipment at the end of the lease term. Net investment in direct finance leases represents the receivables due from lessees, net of unearned income. The lease payments are segregated into principal and interest components similar to a loan. Unearned income is recognized on an effective interest basis over the life of the lease term and is recorded as Finance revenue in the Consolidated Statements of Operations. The principal component of the lease payment is reflected as a reduction to the Net investment in direct finance leases.
Revenue Recognition-Other Revenue	Revenue Recognition—Other Revenue Other revenue includes fees that the Company's customers are contractually obligated to pay to return equipment to a leasable condition, fees for third-party positioning of equipment and scrap revenue generated from end of life chassis. When a lessee leases equipment from the Company, the lessee is contractually obligated to return the equipment in a leasable condition according to predetermined standards. Upon redelivery of the units, the Company charges the lessee for the expected cost to repair the equipment based on a repair survey performed at the depot. The Company charges the lessee based on this estimate and records maintenance and repair revenue at that time. In accordance with the Revenue—Revenue Recognition—Principal Agent Considerations Topic of the FASB ASC, the Company recognizes billings to customers for damages incurred and certain other pass-through costs as Other revenue in the Consolidated Statements of Operations. The Company recognizes gross revenues from these pass-through costs as the Company is the primary obligor with respect to purchasing goods and services from third parties. The Company generally has the discretion in selection of the repair service provider and the Company generally has the credit risk because the services are purchased prior to reimbursement being received. In addition, Other revenue includes fees earned for providing chassis pool management services. Revenue is recognized as services are rendered.
Direct Operating Expenses	Direct Operating Expenses Direct operating expenses are primarily related to costs incurred in relation to leasing equipment that is not being leased to a third-party and for equipment in the Company's chassis pools. These expenses primarily consist of costs to repair and maintain the equipment, to store the equipment when it is not on lease, to reposition the equipment for pick-up by a customer, and equipment rental related costs to meet customer demand. Costs to reposition the equipment incurred prior to the initial lease of the equipment are capitalized as a cost of the asset acquisition.
Provision for Doubtful Accounts	Provision for Doubtful Accounts The Company determines the provision for doubtful accounts based on its assessment of the collectability of its receivables. The Company identifies these accounts based on two methods: (1) a customer-by-customer basis and (2) an allowance method. In the first method, the Company reviews certain accounts based on size, payment history and third-party credit reports and places a likelihood of default percentage on each account individually. For the remaining receivable balance, the Company applies a delinquency factor based on prior history which represents the Company's best estimate of those accounts that will become uncollectible. Changes in economic conditions and trends may require a re-assessment of the risk and could result in increases or decreases in the allowance for doubtful accounts.
Sales of Leasing Equipment	Sales of Leasing Equipment Sales of leasing equipment consist of sales of equipment to third parties, as well as billings to customers for lost or damaged equipment. The Company records the gains and losses from the sales of leasing equipment as part of Other income, net in the Consolidated Statements of Operations. Gains and losses are recognized upon completion of the sale based upon the sales price and the book value of the equipment. For the years ended December 31, 2015, 2014 and 2013, the Company recorded net gains of $1,327, $928 and $1,340, respectively.
Provision (Benefit) for Income Taxes	Provision (Benefit) for Income Taxes The Company is a Limited Liability Company with a single member and therefore is subject to U.S. income taxes. Income taxes have been provided based upon the tax laws and rates in countries in which the Company's operations are conducted and income is earned. The Company's chassis leasing business is domiciled in the United States and, therefore, its income is subject to United States taxation. The provision (benefits) for income taxes recorded relates to the income earned by certain of the Company's subsidiaries, which are located in or have earned income in jurisdictions that impose income taxes, primarily in the United States. The Company is also subject to income tax in Canada and Mexico.
New Accounting Standards	New Accounting Standards Adopted in 2015 In June 2014, the FASB issued authoritative guidance on accounting for Compensation— Stock Compensation (Topic 718): Accounting for Share-Based Payments When the Terms of an Award Provide That a Performance Target Could Be Achieved after the Requisite Service Period ("ASU 2014-12"). The amendments require that a performance target that affects vesting and that could be achieved after the requisite service period be treated as a performance condition. The performance target should not be reflected in estimating the grant date fair value of the award. Compensation cost should be recognized in the period in which it becomes probable that the performance target will be achieved and should represent the compensation cost attributable to the period(s) for which the requisite service has already been rendered. If the performance target becomes probable of being achieved before the end of the requisite service period, the remaining unrecognized compensation cost should be recognized prospectively over the remaining requisite service period. The total amount of compensation cost recognized during and after the requisite service period should reflect the number of awards that are expected to vest and should be adjusted to reflect those awards that ultimately vest. The amendments in this update are effective for annual periods and interim periods beginning after December 15, 2015. Earlier adoption is permitted. The Company adopted this guidance for the year ended December 31, 2015 which had no impact on the Company's Consolidated Financial Statements. In August 2014, the FASB issued authoritative guidance on accounting for Presentation of Financial Statements—Going Concern (Subtopic 205-40): Disclosure of Uncertainties about an Entity's Ability to Continue as a Going Concern ("ASU 2014-15"). The amendments in this update provide guidance on management's responsibility in evaluating whether there is substantial doubt about an entity's ability to continue as a going concern and to provide related footnote disclosures. Currently, there is no guidance in U.S. GAAP about management's responsibility to evaluate whether there is substantial doubt about an entity's ability to continue as a going concern or to provide related footnote disclosures. U.S. auditing standards and federal securities law require that an auditor evaluate whether there is substantial doubt about an entity's ability to continue as a going concern for a reasonable period of time not to exceed one year beyond the date of the financial statements being audited. Because of the lack of guidance in U.S. GAAP and the differing views about when there is substantial doubt about an entity's ability to continue as a going concern, there is diversity in whether, when, and how an entity discloses the relevant conditions and events in its footnotes. These amendments should reduce diversity in the timing and content of footnote disclosures. The amendments in this update are effective for the annual period ending after December 15, 2016, and for annual periods and interim periods thereafter. Early application is permitted. The Company adopted this guidance for the year ended December 31, 2015 which did not change the disclosures in the Notes to the Consolidated Financial Statements. In April 2015, the Financial Accounting Standards Board ("FASB") issued authoritative guidance on accounting for Interest—Imputation of Interest (Subtopic 835-30): Simplifying the Presentation of Debt Issuance Costs ("ASU 2015-03"). This update requires that debt issuance cost related to a recognized debt liability be presented in the balance sheet as a direct deduction from the carrying amount of the debt liability, consistent with debt discounts, without changing existing recognition and measurement guidance for debt issuance costs. The new guidance is required to be applied on a retrospective basis and to be accounted for as a change in an accounting principle. The amendments in this update are effective for financial statements issued for fiscal years beginning after December 15, 2015 and interim periods within those fiscal years and early adoption of the amendments in this update is permitted. The Company adopted this standard for the year ended December 31, 2015 on a retrospective basis and has reclassified $18,350 and $21,556 of unamortized debt issuance cost at December 31, 2015 and 2014, respectively from Other assets to offset Debt and capital lease obligations in the Consolidated Balance Sheet. The reclassification affected only the balance sheet and had no impact on income from continuing operations, net income, retained earnings or net assets. See Note 7. In September 2015, the Financial Accounting Standards Board ("FASB") issued authoritative guidance on accounting for Business Combinations (Topic 805): Simplifying the Accounting for Measurement-Period Adjustments ("ASU 2015-16"). The guidance requires that adjustments to provisional amounts recognized in a business combination be recorded during the measurement period in the period in which the adjustment amounts are determined. The amendments in this update require that the acquirer record, in the same period's financial statements, the effects on earnings of changes in depreciation, amortization, or other income effects, if any, as the result of the change to the provisional amounts, calculated as if the accounting had been completed at the acquisition date. Additional disclosures are required to clarify the impact the adjustments to provisional amounts would have had on prior periods (by income statement line item). The update is effective for reporting periods beginning after December 15, 2015 and for interim periods within those fiscal years, with early adoption permitted. The Company adopted this guidance for the year ended December 31, 2015 which had no impact on the Company's Consolidated Financial Statements. Pending Adoption In May 2014, the FASB issued authoritative guidance on accounting for Revenue from Contracts with Customers (Topic 606): ("ASU 2014-09"). This update supersedes most of the current revenue recognition requirements. The core principle of the new guidance is that an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. New disclosures about the nature, amount, timing and uncertainty of revenue and cash flows arising from contracts with customers are also required. This guidance was effective for fiscal years and interim periods beginning after December 15, 2016 and early application was not permitted. However on July 9, 2015, the FASB decided to delay the effective date by one year. The deferral results in the new revenue standard being effective for fiscal years and interim periods beginning after December 15, 2017. The FASB also decided to allow early adoption but no earlier than the original effective date of December 15, 2016. Entities must adopt the new guidance using one of two retrospective application methods. The Company is currently evaluating the standard to determine the impact of its adoption on the Consolidated Financial Statements. On February 25, 2016, the FASB issued authoritative guidance on accounting for Leases (Topic 842) : ("ASU 2016-02"). The FASB is issuing this update to increase transparency and comparability among organizations by recognizing lease assets and lease liabilities on the balance sheet and disclosing key information about leasing arrangements. This guidance is effective for fiscal years beginning after December 15, 2018, including interim periods within those fiscal years. Entities are required to adopt this guidance using a modified retrospective approach. The Company is currently evaluating the standard to determine the impact of its adoption on the Consolidated Financial Statements. No other new accounting pronouncements issued or effective during 2015 had or are expected to have a material impact on the Company's Consolidated Financial Statements.

Summary of Significant Accoun29

Summary of Significant Accounting Policies (Tables)	12 Months Ended
	Dec. 31, 2015
Summary of Significant Accounting Policies
Schedule of estimated useful lives and average residual values for the Company's Leasing equipment from the date of manufacture	Useful Lives (Years) Residual Values (in Dollars) Chassis 20.0 - 22.5 $

Leasing Activity (Tables)

Leasing Activity (Tables)	12 Months Ended
	Dec. 31, 2015
Leasing Activity
Schedule of the estimated future minimum lease revenue	2016 $ 2017 2018 2019 2020 Thereafter ​ ​ ​ ​ ​ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
Schedule of receivables under direct finance leases collectible through 2022	Total Lease Receivables Unearned Lease Income Net Lease Receivables 2016 $ $ $ 2017 2018 2019 2020 Thereafter ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ $ $ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Leasing Equipment (Tables)

Leasing Equipment (Tables)	12 Months Ended
	Dec. 31, 2015
Leasing Equipment
Summary of leasing equipment	December 31 2015 2014 Total leasing equipment $ $ Less accumulated depreciation ) ) ​ ​ ​ ​ ​ ​ ​ ​ Leasing equipment, net of accumulated depreciation $ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
Summary of the impairment charges recorded by category	December 31 2015 2014 2013 Shrinkage $ $ $ Corroded/Unusable Impairment Insurance recoveries — — ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total impairment of leasing equipment $ $ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Borrowings (Tables)

Borrowings (Tables)	12 Months Ended
	Dec. 31, 2015
Borrowings
Summary of the Company's borrowings	December 31 2015 2014 Debt Instrument Debt Issuance Cost Debt Instrument Debt Issuance Costs Senior Secured 11% Notes $ $ $ $ ABL Facility Loans Payable CIMC Capital lease obligations ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total $ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Less current maturities ) ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Long-term debt, less current maturities $ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
Schedule of Change in Applicable Rate Based on Average Availability	Average Availability Eurodollar Loans ABR Loans <$300 million % % $300 million to <$600 million % % >$600 million * * * Applies only if the Total Leverage Ratio for Test Period in effect (each as defined in the ABL Facility) does not exceed 3.50 to 1.00.
Schedule of assets pledged as collateral	December 31 2015 2014 ABL Facility $ $ CIMC Loans Capital Lease Obligations ​ ​ ​ ​ ​ ​ ​ ​ Total Pledged as Collateral $ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
Schedule of maturities of outstanding debt, including capital lease obligations	2016 $ 2017 2018 2019 2020 Thereafter ​ ​ ​ ​ ​ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Derivatives and Hedging Activ33

Derivatives and Hedging Activities (Tables)	12 Months Ended
	Dec. 31, 2015
Derivatives and Hedging Activities
Schedule of interest rate derivative designated as a cash flow hedge	Hedged Item Current Notional Amount Effective Date Maturity Date Floating Rate Fixed Leg Interest Rate Fair Value Gain(a) ABL Facility $ Jan-2013 Aug-2017 1M LIBOR % $ (a) This interest rate derivative is recorded in Other Assets in the Consolidated Balance Sheets.
Schedule of total interest rate derivatives to fix floating interest rates on a portion of the borrowings under debt facilities	Total Current Notional Amount Weighted- Average Fixed Leg Interest Rate Weighted- Average Remaining Term December 31, 2015 $ % 1.5 years December 31, 2014 $ % 2.5 years December 31, 2013 $ % 3.5 years
Schedule of the net of tax effect of the Company's cash flow hedge derivative instruments	Effective Portion Ineffective Portion Derivative Instruments Change in Unrealized Gain (Loss) Recognized in OCI on Derivatives(a) Classification of Loss Reclassified from OCI into Income Loss Reclassified from OCI into Income(b) Classification of (Gain) Loss Recognized Directly in Income on Derivative (Gain) Loss Recognized Directly in Income on Derivative(c) December 31, 2015 Interest rate derivatives $ ) Interest expense $ Interest expense $ ) December 31, 2014 Interest rate derivatives $ ) Interest expense $ Interest expense $ ) December 31, 2013 Interest rate derivatives $ Interest expense $ Interest expense $ ) (a) This represents the change in the fair market value of the Company's interest rate derivatives, net of tax, offset by the amount of actual cash paid related to the net settlements of the interest rate derivatives, net of tax. (b) This represents the amount of actual cash paid, net of tax, related to the net settlements of the interest rate derivatives plus any effective amortization of deferred losses on the Company's terminated derivatives, net of tax. 2015 2014 2013 Net settlements of interest rate derivatives, net of tax of ($685), ($720) and ($610), respectively $ $ $ Amortization of terminated derivatives, net of tax of ($7,920), ($7,265) and ($7,774), respectively ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ $ $ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (c) Amounts impacting income not related to OCI reclassification.
Schedule of the amount of actual cash paid, net of tax, related to the net settlements of the interest rate derivatives plus any effective amortization of deferred losses on the Company's terminated derivatives, net of tax	2015 2014 2013 Net settlements of interest rate derivatives, net of tax of ($685), ($720) and ($610), respectively $ $ $ Amortization of terminated derivatives, net of tax of ($7,920), ($7,265) and ($7,774), respectively ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ $ $ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
Summary of deferred (gains) and losses for the terminated interest rate derivatives and the related amortization into interest expense	Amount of Deferred Loss Expected to be Amortized over the Next 12 months Unamortized Deferred (Gain) Loss at December 31, 2015 Amount of Deferred Loss Amortized (including Accelerated Amortization) into Interest Expense Original Maximum Notional Amount Effective Date Maturity Date Fixed Rate % Termination Date Deferred Loss Upon Termination Hedged Item 2015 2014 2013 (a) $ Jul-2007 Oct-2017 % Dec-2007 $ $ ) $ ) $ $ $ ) (a) Jul-2007 Jul-2017 % Dec-2007 ) ) ) (a) Jul-2007 Jul-2014 % Dec-2007 — — — (b) Jul-2008 Oct-2014 % Jul-2008 — — — (b) Oct-2007 Oct-2014 % Jul-2008 — — — (b) Oct-2014 Oct-2017 % Jul-2008 — (b) Oct-2014 Oct-2017 % Jul-2008 — (a) Nov-2007 Jul-2014 % Jul-2008 — — ) ) — (b) Oct-2007 Oct-2014 % Jul-2008 — — ) — (a) Nov-2007 Oct-2017 % Jul-2008 ) ) ) ) ) (a) Nov-2007 Jul-2017 % Jul-2008 ) ) ) ) ) (c) Sep-2007 Jul-2014 % Mar-2011 — — — (d) Jul-2008 Oct-2017 % Aug-2012 (d) Jul-2008 Jul-2017 % Aug-2012 (d) Jul-2008 Jul-2014 % Aug-2012 — — — (d) Jul-2008 Oct-2014 % Aug-2012 — — — (d) Jul-2008 Oct-2014 % Aug-2012 — — — (d) Oct-2014 Oct-2017 % Aug-2012 — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total $ $ $ $ $ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (a) This hedged item is referred to as Chassis Funding II Floating Rate Asset-Backed Notes, Series 2007-1 (b) This hedged item is referred to as Chassis Funding Floating Rate Asset-Backed Notes, Series 2007-1 (c) This hedged item is referred to as Chassis Financing Program, Term Loan Agreement—Portfolio C (d) This hedged item is referred to as Chassis Financing Program, Portfolio A

Commitments and Contingencies (

Commitments and Contingencies (Tables)	12 Months Ended
	Dec. 31, 2015
Commitments and Contingencies
Schedule of aggregate minimum rental commitment under operating leases having initial or remaining non-cancelable lease terms in excess of one year	2016 $ 2017 2018 2019 2020 Thereafter ​ ​ ​ ​ ​ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Dec. 31, 2015
Income Taxes
Schedule of domestic and foreign pre-tax income	Year ended December 31 2015 2014 2013 Domestic $ $ ) $ ) Foreign ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total $ $ ) $ ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
Schedule of provision (benefit) for income taxes	Year ended December 31 2015 2014 2013 Current taxes: Federal $ $ ) $ State ) Foreign ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total current taxes ) ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Deferred taxes: Federal ) State ) Foreign ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total deferred taxes ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total provision (benefit) for income taxes $ $ ) $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
Schedule of reconciliation of the U.S. statutory tax rate to the effective tax rate for continuing operations	Year ended December 31 2015 2014 2013 U.S. statutory rate % % % State taxes ) Foreign earnings taxed at other than 35% ) ) Gain — — ) Changes in uncertain tax positions — ) ) Valuation allowances — ) Permanent tax items ) Other — — — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Effective tax rate % % )% ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
Schedule of significant components of deferred tax assets and liabilities	December 31 2015 2014 Deferred tax assets: Loss carryforwards $ $ Derivative instruments Other ​ ​ ​ ​ ​ ​ ​ ​ Deferred tax assets Valuation allowance ) ) ​ ​ ​ ​ ​ ​ ​ ​ Total deferred tax assets ​ ​ ​ ​ ​ ​ ​ ​ Deferred tax liabilities: Operating property, net Derivative Instruments ​ ​ ​ ​ ​ ​ ​ ​ Total deferred tax liabilities ​ ​ ​ ​ ​ ​ ​ ​ Net deferred tax liabilities $ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
Schedule of reconciliation of the beginning and ending amount of unrecognized tax benefits	Balance at December 31, 2013 $ Change during 2014 ​ ​ ​ ​ ​ Balance at December 31, 2014 Change during 2015 — ​ ​ ​ ​ ​ Balance at December 31, 2015 $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Accumulated Other Comprehensi36

Accumulated Other Comprehensive Loss (Tables)	12 Months Ended
	Dec. 31, 2015
Accumulated Other Comprehensive Loss.
Schedule of the components of AOCI, net of tax	Unrealized Gain (Loss) on Derivative Instruments Net Derivative Loss to be Reclassified into Earnings Foreign Currency Translation Total Accumulated Other Comprehensive Loss Balance, December 31, 2012 $ — $ ) $ $ ) Current-period other comprehensive income (loss) ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Balance, December 31, 2013 $ $ ) $ ) $ ) Current-period other comprehensive (loss) income ) ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Balance, December 31, 2014 $ $ ) $ ) $ ) Current-period other comprehensive (loss) income ) ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Balance, December 31, 2015 $ $ ) $ ) $ )
Schedule of the effects of reclassifications out of AOCI and into the Consolidated Statements of Operations	Year ended December 31, Income Statement Line Item 2015 2014 2013 Total loss in AOCI reclassifications for previously unrealized net losses on terminated derivatives Interest expense $ $ $ Related income tax benefit Benefit for income taxes ) ) ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net loss reclassified out of AOCI $ $ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Share-Based Payment (Tables)

Share-Based Payment (Tables)	12 Months Ended
	Dec. 31, 2015
SCT Chassis, Inc.
Share-based payment
Summary of the non-vested restricted shares of SCT Chassis, Inc.	Non-vested Shares Shares Weighted- Average Grant Date Fair Value per share Fair Value of Shares at Grant Date Non-vested at December 31, 2012 $ $ Granted Forfeited ) ) Vested ) ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Non-vested at December 31, 2013 $ $ Granted — — — Forfeited ) ) Vested ) ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Non-vested at December 31, 2014 $ $ Granted Forfeited — — — Vested ) ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Non-vested at December 31, 2015 $ $

Segment and Geographic Inform38

Segment and Geographic Information (Tables)	12 Months Ended
	Dec. 31, 2015
Segment and Geographic Information
Schedule of segment information	2015 Marine Market segment Domestic Market segment Other Total Term revenue $ $ $ — $ Pool revenue — All other revenue ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total revenue Adjusted EBITDA ) Depreciation expense Net investment in direct finance leases — Leasing equipment Capital expenditures for long-lived assets 2014 Marine Market segment Domestic Market segment Other Total Term revenue $ $ $ — $ Pool revenue — All other revenue ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total revenue Adjusted EBITDA ) Depreciation expense Net investment in direct finance leases — Leasing equipment Capital expenditures for long-lived assets 2013 Marine Market segment Domestic Market segment Other Total Term revenue $ $ $ — $ Pool revenue — All other revenue ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total revenue Adjusted EBITDA ) Depreciation expense Net investment in direct finance leases — Leasing equipment Capital expenditures for long-lived assets
Schedule of reconciliations of Adjusted EBITDA to the Company's net (loss) income	Year ended December 31 2015 2014 2013 Adjusted EBITDA $ $ $ Principal collections on direct finance leases, net of interest earned ) ) ) Non-cash share-based compensation ) ) ) Interest expense ) ) ) Depreciation expense ) ) ) Impairment of leasing equipment ) ) ) Early retirement of leasing equipment — ) — Loss on modification and extinguishment of debt and capital lease obligations ) ) ) Interest income Other income, net ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Income (loss) before provision (benefit) for income taxes ) ) Provision (benefit) for income taxes ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net income (loss) $ $ ) $ ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Fair Value of Financial Instr39

Fair Value of Financial Instruments (Tables)	12 Months Ended
	Dec. 31, 2015
Fair Value of Financial Instruments
Schedule of valuation of the Company's financial assets and liabilities measured at fair value on a recurring basis	Fair Value as of December 31, Fair Value Measurement as of December 31, 2015 using Fair Value Hierarchy 2015 Level 1 Level 2 Level 3 Assets: Cash and cash equivalents $ $ $ — $ — Derivative instruments — — Fair Value as of December 31, Fair Value Measurement as of December 31, 2014 using Fair Value Hierarchy 2014 Level 1 Level 2 Level 3 Assets: Cash and cash equivalents $ $ $ — $ — Derivative instruments — —
Schedule of carrying amounts and fair values of the Company's financial instruments	December 31, 2015 December 31, 2014 Carrying Amount of Asset (Liability) Fair Value of Asset (Liability) Carrying Amount of Asset (Liability) Fair Value of Asset (Liability) Derivative instrument Total debt ) ) ) )

Guarantor Financial Informati40

Guarantor Financial Information (Tables)	12 Months Ended
	Dec. 31, 2015
Guarantor Financial Information
Condensed Consolidating Balance Sheet	Condensed Consolidating Balance Sheet December 31, 2015 Issuer Parent Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Consolidated Assets Cash and cash equivalents $ — $ $ $ — $ Accounts receivable, net — — Net investment in direct finance leases — — ) Leasing equipment, net of accumulated depreciation — — Goodwill — — — Affiliate and intercompany receivable — — ) Intercompany interest receivable — — ) — Intercompany note receivable — — ) — Investment in subsidiary — ) Other assets — — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total assets $ $ $ $ ) $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Liabilities member's interest Accounts payable, accrued expenses and other liabilities $ $ $ $ — $ Intercompany payable — — ) — Intercompany note payable — — ) — Intercompany interest payable — — ) — Intercompany lease payable — — ) — Deferred income taxes, net — — Debt and capital lease obligations less debt issuance costs — — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total liabilities ) Total member's interest ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total liabilities and member's interest $ $ $ $ ) $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Condensed Consolidating Balance Sheet December 31, 2014 Issuer Parent Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Consolidated Assets Cash and cash equivalents $ — $ $ $ — $ Accounts receivable, net — — Net investment in direct finance leases — — ) Leasing equipment, net of accumulated depreciation — — Goodwill — — — Affiliate and intercompany receivable — ) Intercompany interest receivable — — ) — Intercompany note receivable — — ) — Investment in subsidiary — ) — Other assets — — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total assets $ $ $ $ ) $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Liabilities member's interest Accounts payable, accrued expenses and other liabilities $ $ $ $ — $ Intercompany payable — — ) — Intercompany note payable — — ) — Intercompany interest payable — — ) — Intercompany lease payable — — ) — Deferred income taxes, net — — Debt and capital lease obligations less debt issue costs — — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total liabilities ) Total member's interest ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total liabilities and member's interest $ $ $ $ ) $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
Condensed Consolidating Statements of Operations and Comprehensive Income	Condensed Consolidating Statements of Operations and Comprehensive Income For The Year Ended December 31, 2015 Issuer Parent Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Consolidated Total revenue $ — $ $ $ ) $ Direct operating expenses — — Selling, general and administrative expenses — — Depreciation expense — — Recovery for doubtful accounts — ) — — ) Impairment of leasing equipment — — — Loss on modification and extinguishment of debt and capital lease obligations — — — Interest expense ) Interest income ) ) — ) Equity in earnings of subsidiary ) ) — — Other income, net — ) ) — ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total expenses ) Income before provision for income taxes ) Provision for income taxes — — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net income ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Unrealized gain on derivative instruments, net of tax of $601 — ) — — ) Derivative loss reclassified into earnings, net of tax of ($7,920) — — — Foreign currency translation loss, net of tax of $636 — ) — — ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total other comprehensive income — — — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total comprehensive income $ $ $ $ ) $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Condensed Consolidating Statements of Operations and Comprehensive (Loss) Income For The Year Ended December 31, 2014 Issuer Parent Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Consolidated Total revenue $ — $ $ $ ) $ Direct operating expenses — — Selling, general and administrative expenses — — Depreciation expense — — Provision for doubtful accounts — — — Impairment of leasing equipment — — — Early retirement of leasing equipment — — — Loss on modification and extinguishment of debt and capital lease obligations — — — Interest expense ) Interest income ) ) — ) Equity in earnings of subsidiary ) — ) — Other income, net — ) — — ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total expenses ) (Loss) income before (benefit) provision for income taxes ) ) ) (Benefit) provision for income taxes — ) — ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net (loss) income ) ) ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Unrealized gain on derivative instruments, net of tax of $585 — ) — — ) Derivative loss reclassified into earnings, net of tax of ($7,265) — — — Foreign currency translation loss, net of tax of $364 — ) — — ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total other comprehensive income — — — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total comprehensive (loss) income $ ) $ $ $ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Condensed Consolidating Statements of Operations and Comprehensive (Loss) Income For The Year Ended December 31, 2013 Issuer Parent Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Consolidated Total revenue $ — $ $ $ ) $ Direct operating expenses — — Selling, general and administrative expenses — — Depreciation expense — — Provision for doubtful accounts — — — Impairment of leasing equipment — — — Loss on modification and extinguishment of debt and capital lease obligations — — — Interest expense ) Interest income ) ) — ) Equity in earnings of subsidiary ) — ) — Other income, net — ) ) — ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total expenses ) (Loss) income before provision for income taxes ) ) ) Provision for income taxes — — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net (loss) income ) ) ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Unrealized gain on derivative instruments, net of tax of ($1,313) — — — Derivative loss reclassified into earnings, net of tax of ($7,774) — — — Foreign currency translation loss, net of tax of $398 — ) — — ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total other comprehensive income — — — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total comprehensive (loss) income $ ) $ ) $ $ $ ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
Condensed Consolidating Statement of Cash Flows	Condensed Consolidating Statement of Cash Flows For The Year Ended December 31, 2015 Issuer Parent Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Consolidated Net cash provided by operating activities $ — $ $ $ $ Investing activities: Proceeds from sale of leasing equipment — — — Collections on net investment in direct finance leases, net of interest earned — — ) Proceeds from sale of other assets, net of other investing activities — — — Purchase of leasing equipment — ) — — ) Purchase of fixed asset — ) — — ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net cash used in investing activities — ) — ) ) Financing activities: Proceeds from long-term debt — — — Repayment of long-term debt — ) — — ) Cash paid for debt issuance fees — ) — — ) Premium paid for redemption of notes — ) — — ) Sale of investment in indirect parent — — — Repurchase of shares from employees — ) — — ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net cash used in financing activities — ) — — ) Effect of changes in exchange rates on cash and cash equivalents — ) — — ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net (decrease) increase in cash and cash equivalents — ) — ) Cash and cash equivalents, beginning of period — — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Cash and cash equivalents, end of period $ — $ $ $ — $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Condensed Consolidating Statement of Cash Flows For The Year Ended December 31, 2014 Issuer Parent Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Consolidated Net cash provided by operating activities $ — $ $ $ $ Investing activities: Proceeds from sale of leasing equipment — — — Collections on net investment in direct finance leases, net of interest earned — — ) Purchase of leasing equipment — ) — — ) Purchase of fixed asset — ) — — ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net cash used in investing activities — ) — ) ) Financing activities: Proceeds from long-term debt — — — Repayment of long-term debt — ) — — ) Cash paid for debt issuance fees — ) — — ) Repurchase of shares from employees — ) — — ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net cash used in financing activities — ) — — ) Effect of changes in exchange rates on cash and cash equivalents — ) — — ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net (decrease) increase in cash and cash equivalents — ) — ) Cash and cash equivalents, beginning of period — — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Cash and cash equivalents, end of period $ — $ $ $ — $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Condensed Consolidating Statement of Cash Flows For The Year Ended December 31, 2013 Issuer Parent Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Consolidated Net cash provided by (used in) operating activities $ — $ $ ) $ $ Investing activities: Proceeds from sale of leasing equipment — — — Collections on net investment in direct finance leases, net of interest earned — — ) Purchase of leasing equipment — ) — — ) Purchase of fixed asset — ) — — ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net cash used in investing activities — ) — ) ) Financing activities: Proceeds from long-term debt — — — Repayment of long-term debt — ) — — ) Cash paid for debt issuance fees — ) — — ) Excess tax benefits—restricted shares — — — Repurchase of shares from employees — ) — — ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net cash provided by financing activities — — — Effect of changes in exchange rates on cash and cash equivalents — ) — — ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net decrease in cash and cash equivalents — ) ) — ) Cash and cash equivalents, beginning of period — — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Cash and cash equivalents, end of period $ — $ $ $ — $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Description of the Business a41

Description of the Business and Basis of Presentation, Equipment (Details) $ in Millions	Dec. 31, 2015USD ($)item
Description of the Business and Basis of Presentation
Number of chassis and units available for remanufacture which are owned, leased-in and managed by the entity | item	311,375
Net book value of owned equipment | $	$ 1,450

Description of the Business a42

Description of the Business and Basis of Presentation, Organization (Details 2) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Aug. 09, 2012
Senior Secured 11% Notes
Borrowings
Interest rate (as a percent)	11.00%	11.00%
Senior Secured 11% Notes | Unregistered Original Notes
Borrowings
Aggregate principal amount of issuance			$ 300,000
Interest rate (as a percent)			11.00%
Interpool
Borrowings
Percentage ownership of subsidiaries	100.00%

Description of the Business a43

Description of the Business and Basis of Presentation, Concentration (Details 3)	12 Months Ended
	Dec. 31, 2015segmentcustomeritem	Dec. 31, 2014customer	Dec. 31, 2013customer
Description of Business
Number of industries in which the entity and its subsidiaries conduct business	1
Number of reportable segments | segment	2
Top 25 customers | Revenues | Customer concentration
Description of Business
Percentage of the Company's total revenues	58.00%	62.00%	70.00%
Number of customers | customer	25	25	25
Motor carriers | Revenues | Customer concentration
Description of Business
Percentage of the Company's total revenues	56.00%	48.00%	25.00%
Motor carriers | Revenues | Customer concentration | Minimum
Description of Business
Number of customers	3,600

Summary of Significant Accoun44

Summary of Significant Accounting Policies, Consolidation (Details)	12 Months Ended
	Dec. 31, 2015
All subsidiaries of the Company
Principles of Consolidation
Percentage ownership of subsidiaries	100.00%

Summary of Significant Accoun45

Summary of Significant Accounting Policies, Risks (Details 2) $ in Thousands	12 Months Ended
	Dec. 31, 2015USD ($)customeritem	Dec. 31, 2014USD ($)customer	Dec. 31, 2013USD ($)customer
Risk and Uncertainties
Number of significant types of economic risk | item	2
Risk and Uncertainties
Outstanding principal in direct finance leases	$ 12,797	$ 16,215	$ 25,026
Revenues | Customer concentration | Top ten customers
Risk and Uncertainties
Concentration risk (as a percent)	41.00%	45.00%	52.00%
Number of customers | customer	10	10	10
Revenues | Customer concentration | Largest customer
Risk and Uncertainties
Concentration risk (as a percent)	7.00%	6.00%	7.00%
Balances due to Company | Credit concentration | Largest customer
Risk and Uncertainties
Maximum loss that the entity would incur, if customer failed completely to perform according to the terms of contract	$ 4,526
Outstanding principal | Credit concentration | Top three customers
Risk and Uncertainties
Outstanding principal in direct finance leases	$ 12,197	$ 14,592	$ 21,893
Concentration risk (as a percent)	95.00%	90.00%	87.00%
Number of customers | customer	3	3	3

Summary of Significant Accoun46

Summary of Significant Accounting Policies, Lease Equipment (Details 3) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Jun. 30, 2014	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Leasing equipment
Remanufacturing Expense		$ 41,211	$ 40,214	$ 4,038
Chassis | Minimum
Leasing equipment
Useful lives		20 years
Chassis | Maximum
Leasing equipment
Useful lives		22 years 6 months
Chassis | Average
Leasing equipment
Residual values		$ 2,600
Domestic Chassis
Leasing equipment
Useful lives	20 years	20 years
Marine Chassis
Leasing equipment
Useful lives	22 years 6 months	22 years 6 months
Extension of useful life of domestic chassis fleet
Leasing equipment
Useful lives		20 years
Remanufacturing Expense		$ 12,701	$ 2,712	$ 3,124

Summary of Significant Accoun47

Summary of Significant Accounting Policies, Equipment (Details 4)	12 Months Ended
	Dec. 31, 2015
Buildings
Property and Equipment
Useful lives	40 years
Furniture and fixtures | Minimum
Property and Equipment
Useful lives	3 years
Furniture and fixtures | Maximum
Property and Equipment
Useful lives	7 years
Computers and office equipment | Minimum
Property and Equipment
Useful lives	3 years
Computers and office equipment | Maximum
Property and Equipment
Useful lives	5 years
Software Development
Property and Equipment
Useful lives	7 years
Other property and equipment | Minimum
Property and Equipment
Useful lives	3 years
Other property and equipment | Maximum
Property and Equipment
Useful lives	10 years

Summary of Significant Accoun48

Summary of Significant Accounting Policies, Additional (Details 5)	12 Months Ended
	Dec. 31, 2015USD ($)segmentitem	Dec. 31, 2014USD ($)	Dec. 31, 2013USD ($)	Aug. 09, 2012USD ($)
Capitalized Software
Software Useful Life	7 years
Goodwill
Number of reportable units | segment	2
Provision for Doubtful Accounts
Number of methods to assess doubtful accounts based on collectability of receivables | item	2
Sales of Leasing Equipment
Net gain on sales of leasing equipment	$ 1,327,000	$ 928,000	$ 1,340,000
Senior Secured Credit Agreement | Fortis Facility
Derivative Instruments and Hedging Activities
Repayments of senior secured credit agreement				$ 630,000

Summary of Significant Accoun49

Summary of Significant Accounting Policies, New Accounting Standards (Details 6) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Recent Accounting Pronouncements
Unamortized debt issuance cost	$ 18,350	$ 21,555
ASU 2015-03
Recent Accounting Pronouncements
Unamortized debt issuance cost	$ 18,350	$ 21,556

Leasing Activity (Details)

Leasing Activity (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Leasing Activity
Contingent rental, operating leases	$ 0	$ 0	$ 0
Contingent rental, direct finance leases	0	0	0
Future minimum lease revenue
2,016	63,953
2,017	40,663
2,018	9,710
2,019	7,840
2,020	3,189
Thereafter	699
Total	126,054
Direct finance leases
Guaranteed and unguaranteed residual values	8,673	8,778
Total Lease Receivables
2,016	3,869
2,017	10,350
2,018	89
2,019	4
2,020	3
Thereafter	15
Total	14,330	19,271
Unearned Lease Income
2,016	1,131
2,017	393
2,018	5
2,019	2
2,020	1
Thereafter	1
Total	1,533	3,056
Net Lease Receivables
2,016	2,738
2,017	9,957
2,018	84
2,019	2
2,020	2
Thereafter	14
Total	$ 12,797	$ 16,215	$ 25,026

Leasing Equipment (Details)

Leasing Equipment (Details) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended	12 Months Ended
	Jun. 30, 2014	Dec. 31, 2014	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Leasing equipment
Total leasing equipment		$ 1,837,317	$ 1,888,940	$ 1,837,317
Less accumulated depreciation		(400,408)	(452,962)	(400,408)
Leasing equipment, net of accumulated depreciation		1,436,909	1,435,978	1,436,909	$ 1,394,088
Depreciation expense			72,128	72,114	71,791
Net income (loss)			26,718	(2,956)	$ (29,353)
Assets recorded under capital leases
Leasing equipment under capital leases		182,688	121,817	182,688
Accumulated depreciation under capital leases		53,016	$ 46,304	$ 53,016
Domestic Chassis
Leasing equipment
Estimated useful life	20 years		20 years
Domestic Chassis | Extension of useful life of domestic chassis fleet
Leasing equipment
Depreciation expense		(3,931)
Net income (loss)		$ 3,931
Domestic Chassis | Previous Estimate
Leasing equipment
Estimated useful life	17 years 6 months
Marine Chassis
Leasing equipment
Estimated useful life	22 years 6 months		22 years 6 months

Leasing Equipment, Impairment (

Leasing Equipment, Impairment (Details 2) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Leasing Equipment
Shrinkage	$ 1,102	$ 218	$ 51
Corroded/Unusable	4,128	2,527	658
Impairment	2,047	3,110	5,642
Insurance recoveries			(494)
Total impairment of leasing equipment	$ 7,277	$ 5,855	$ 5,857

Leasing Equipment, Retirement (

Leasing Equipment, Retirement (Details 3) $ in Thousands	3 Months Ended	12 Months Ended
	Jun. 30, 2014USD ($)item	Dec. 31, 2014USD ($)
Early Retirement of Leasing Equipment
Early retirement of leasing equipment		$ 37,766
Chassis Retirements
Early Retirement of Leasing Equipment
Number identified for retirement | item	11,000
Early retirement of leasing equipment	$ 14,766
Axle Retirements
Early Retirement of Leasing Equipment
Number identified for retirement | item	9,000
Early retirement of leasing equipment	$ 23,000

Capitalized Software Developm54

Capitalized Software Development Costs (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Capitalized Computer Software, Net
Capitalized software development costs	$ 9,675	$ 952
Estimated useful life of software	7 years

Goodwill (Details)

Goodwill (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2015USD ($)segment	Dec. 31, 2014USD ($)	Dec. 31, 2013USD ($)
Goodwill
Number of reportable units | segment	2
Goodwill	$ 251,907	$ 251,907
Accumulated impairment losses	0
Impairment	0	0	$ 0
Marine Market segment
Goodwill
Goodwill	134,019	$ 134,019
Domestic Market segment
Goodwill
Goodwill	$ 117,888

Borrowings (Details)

Borrowings (Details) $ in Thousands	Dec. 31, 2015USD ($)	Dec. 14, 2015USD ($)	Aug. 17, 2015USD ($)	Aug. 11, 2015USD ($)	Aug. 15, 2014	Apr. 15, 2014USD ($)	Aug. 10, 2012USD ($)	Jun. 30, 2011item	Dec. 31, 2015USD ($)item	Dec. 31, 2014USD ($)item	Dec. 31, 2013USD ($)	Dec. 31, 2012USD ($)	Dec. 31, 2010item	Dec. 10, 2015USD ($)	Feb. 05, 2015USD ($)	Feb. 04, 2015USD ($)	Jan. 14, 2015USD ($)	Jan. 10, 2013USD ($)	Aug. 09, 2012USD ($)derivative
Borrowings
Total debt and capital lease obligations	$ 1,080,679								$ 1,080,679	$ 1,164,222
Debt Issuance Cost									18,350	21,555
Less current maturities	(41,396)								(41,396)	(30,546)
Long-term debt, less current maturities	1,039,283								$ 1,039,283	$ 1,133,676
Weighted average interest rate (as a percent)									5.37%	5.78%	6.11%
Variable rate debt effectively converted to fixed rate																$ 300,000
Assets pledged as collateral	1,447,223								$ 1,447,223	$ 1,434,417
Loss on modification and extinguishment of debt and capital lease obligations									$ 19,852	315	$ 904
Interest rate swap
Borrowings
Maximum percentage of principal amount of debt for optional redemption with equity offering proceeds									35.00%
Redemption price as percentage of principal amount, for optional redemption with equity offering proceeds									111.00%
Number of derivative instruments terminated | derivative																			6
Variable rate debt effectively converted to fixed rate	$ 300,000								$ 300,000	300,000								$ 300,000
Fixed interest rate payable (as a percent)	0.756%								0.756%							1.063%
LIBOR | Interest rate swap
Borrowings
Variable rate debt effectively converted to fixed rate															$ 100,000	$ 50,000
Maturity of reference rate for variable interest									1 month
Fixed interest rate payable (as a percent)															1.1175%	1.2985%
One month LIBOR interest rate (as a percent)	0.4295%								0.4295%
ABL Facility
Borrowings
Total debt and capital lease obligations			$ 176,000
Maximum borrowing capacity																	$ 52,000
Variable rate basis			one-month USD LIBOR
Interest rate added to variable rate basis (as a percent)			2.25%
Senior Secured Debt leverage ratio									3.50
Percentage of total commitment used in the calculation of average availability									12.5
Amount used in the calculation of average availability									$ 100,000
Number of consecutive days that average availability shall have exceeded the required thresholds | item									30
ABL Facility | Minimum
Borrowings
Average availability	$ 300,000								$ 300,000
Fixed charge coverage ratio									1
ABL Facility | Maximum
Borrowings
Average availability	600,000								$ 600,000
ABL Facility | Interpool
Borrowings
Loss on extinguishment of debt				$ 739
Senior Secured 11% Notes
Borrowings
Total debt and capital lease obligations	$ 150,000		$ 150,000						150,000	300,000
Debt Issuance Cost									$ 2,746	$ 7,058
Interest rate (as a percent)	11.00%								11.00%	11.00%
Weighted average interest rate (as a percent)									11.53%	11.54%	11.50%
Redemption price as a percentage of principal, due to change in control									101.00%
Redemption price as a percentage of principal, upon collateral or non-collateral asset sales									100.00%
Financing fees expensed upon redemption			$ 3,058				$ 9,555
Debt instrument term							7 years
Percentage of principal amount			108.25%
Debt repayment			$ 162,375
Redemption of principal amount			150,000
Debt instrument premium			$ 12,375
Senior Secured 11% Notes | Unregistered Original Notes
Borrowings
Interest rate (as a percent)																			11.00%
Total principal amount of the Original Notes sold																			$ 300,000
Senior Secured 11% Notes | Prior to August 15, 2015
Borrowings
End date of redemption period									Aug. 15, 2015
Redemption price as a percentage of principal									100.00%
Maximum percentage of principal amount of debt for optional redemption with equity offering proceeds									35.00%
Redemption price as percentage of principal amount, for optional redemption with equity offering proceeds									111.00%
Senior Secured Credit Agreement | Interpool
Borrowings
Deferred financing fees				749
Senior Secured Credit Agreement | ABL Facility
Borrowings
Total debt and capital lease obligations	$ 867,000								$ 867,000	$ 759,000
Debt Issuance Cost									$ 15,585	14,470
Maximum borrowing capacity										1,250,000		$ 725,000							$ 725,000
Financing fees expensed upon redemption						$ 1,880				3,113
Percentage of eligible accounts receivable, basis for calculation of maximum borrowings under the debt covenant									85.00%
Percentage of net book GAAP depreciated value of eligible rental fleet assets used in calculating maximum borrowings									85.00%
Percentage of the borrowing base									5.00%
Amount of fleet assets located in Mexico used in the calculation of maximum borrowings									$ 60,000
Percentage of net orderly liquidation value of eligible rental fleet assets used in for calculating maximum borrowings									80.00%
Assets pledged as collateral	1,344,961								$ 1,344,961	1,276,781
Senior Secured Credit Agreement | ABL Facility | Effective date to December 31, 2016 | Maximum
Borrowings
Senior Secured Debt leverage ratio									5.25
Senior Secured Credit Agreement | ABL Facility | Periods ending March 31, 2017 to December 31, 2017 | Maximum
Borrowings
Senior Secured Debt leverage ratio									5
Senior Secured Credit Agreement | ABL Facility | Periods ending March 31, 2018 to the maturity date | Maximum
Borrowings
Senior Secured Debt leverage ratio									4.50
Senior Secured Credit Agreement | ABL Facility | LIBOR
Borrowings
Interest rate added to variable rate basis (as a percent)					2.75%				2.25%
Credit Agreement-Third Amendment | ABL Facility | Interpool
Borrowings
Maximum borrowing capacity				1,400,000
Current revolving commitment borrowing capacity				1,250,000
Credit Agreement-Fourth Amendment | ABL Facility | Interpool
Borrowings
Maximum borrowing capacity														$ 1,500,000
Credit Agreement-Fourth Amendment | ABL Facility With existing lenders | Interpool
Borrowings
Maximum borrowing capacity														$ 1,250,000
Credit Agreement-Incremental Amendment | ABL Facility | Interpool
Borrowings
Total debt and capital lease obligations	867,000								$ 867,000	$ 759,000
Weighted average interest rate (as a percent)									3.51%	4.60%	4.03%
Maximum borrowing capacity		$ 1,300,000		1,300,000
Increase (decrease) in revolving commitment		$ 50,000		50,000
Deferred financing fees	9,250								$ 9,250
Loss on extinguishment of debt									2,647
Available borrowing capacity	343,481								343,481
Credit Agreement-Incremental Amendment | ABL Facility with JPMorgan Chase Bank, N.A. | Interpool
Borrowings
Increase (decrease) in revolving commitment				22,750
Credit Agreement-Incremental Amendment | ABL Facility with Citibank, N.A. | Interpool
Borrowings
Increase (decrease) in revolving commitment				100,000
Credit Agreement-Incremental Amendment | ABL Facility with City National Bank | Interpool
Borrowings
Increase (decrease) in revolving commitment				9,000
Credit Agreement-Incremental Amendment | ABL Facility with Bank of America, N.A. | Interpool
Borrowings
Increase (decrease) in revolving commitment				22,750
Credit Agreement-Incremental Amendment | ABL Facility with Deutsche Bank AG New York Branch | Interpool
Borrowings
Increase (decrease) in revolving commitment				$ 13,500
Loans Payable CIMC
Borrowings
Total debt and capital lease obligations	14,519								14,519	$ 16,950
Debt Issuance Cost									$ 16	$ 20
Weighted average interest rate (as a percent)									4.59%	4.53%	4.56%
Number of chassis contracted for the remanufacture and financing with CIMC | item													3,135
Percentage of acquisition cost of remanufactured chassis financed by CIMC													90.00%
Number of tranches in which equipment were delivered. | item								8
Number of financing agreements signed | item								8
Term of each agreement commencing on the acceptance date of the equipment								120 months
Assets pledged as collateral	26,609								$ 26,609	$ 27,966
Capital lease obligations
Borrowings
Total debt and capital lease obligations	49,160								49,160	88,272
Debt Issuance Cost									3	$ 7
Weighted average interest rate (as a percent)										4.81%	4.96%	5.10%
Assets pledged as collateral	$ 75,653								$ 75,653	$ 129,670
Number of purchase options exercised under capital lease | item										1
Number of chassis purchased under early purchase option of capital leases | item									1,537	1,371
Exercise of early purchase options, payment to lender									$ 11,855	$ 12,032
Loss on modification and extinguishment of debt and capital lease obligations									$ 860	$ 225
Capital lease obligations | Minimum
Borrowings
Interest rate (as a percent)	3.53%								3.53%
Capital lease obligations | Maximum
Borrowings
Interest rate (as a percent)	7.07%								7.07%
Maturing Capital Leases
Borrowings
Number of chassis purchased under early purchase option of capital leases | item									5,161
Exercise of early purchase options, payment to lender	$ 14,644
ABR Loans | ABL Facility
Borrowings
Interest rate (as a percent)	1.00%								1.00%
ABR Loans | Less than 300 Million | ABL Facility
Borrowings
Interest rate (as a percent)	1.25%								1.25%
ABR Loans | 300 Million to less than 600 Million | ABL Facility
Borrowings
Interest rate (as a percent)	1.00%								1.00%
ABR Loans | Greater than 600 Million | ABL Facility
Borrowings
Interest rate (as a percent)	0.75%								0.75%
Eurodollar Loans | ABL Facility
Borrowings
Interest rate (as a percent)	2.00%								2.00%
Eurodollar Loans | Less than 300 Million | ABL Facility
Borrowings
Interest rate (as a percent)	2.25%								2.25%
Eurodollar Loans | 300 Million to less than 600 Million | ABL Facility
Borrowings
Interest rate (as a percent)	2.00%								2.00%
Eurodollar Loans | Greater than 600 Million | ABL Facility
Borrowings
Interest rate (as a percent)	1.75%								1.75%

Borrowings, Maturities (Details

Borrowings, Maturities (Details 2) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Debt Maturities
2,016	$ 41,396
2,017	10,493
2,018	7,883
2,019	153,425
2,020	866,565
Thereafter	917
Total debt and capital lease obligations	$ 1,080,679	$ 1,164,222

Derivatives and Hedging Activ58

Derivatives and Hedging Activities (Details) $ in Thousands	Aug. 09, 2012USD ($)derivative	Dec. 31, 2015USD ($)	Feb. 05, 2015USD ($)	Feb. 04, 2015USD ($)	Dec. 31, 2014USD ($)	Jan. 10, 2013USD ($)
Derivative and Hedging Activities
Variable rate debt hedged				$ 300,000
Interest rate swap
Derivative and Hedging Activities
Number of derivative instruments terminated | derivative	6
Variable rate debt hedged		$ 300,000			$ 300,000	$ 300,000
Fixed interest rate payable (as a percent)		0.756%		1.063%
Amount paid on settlement, including accrued interest	$ 91,422
Accrued interest paid at settlement	$ 1,052
Interest rate swap | LIBOR
Derivative and Hedging Activities
Variable rate debt hedged			$ 100,000	$ 50,000
Fixed interest rate payable (as a percent)			1.1175%	1.2985%
Maturity of reference rate for variable interest		1 month
One month LIBOR interest rate (as a percent)		0.4295%

Derivatives and Hedging Activ59

Derivatives and Hedging Activities (Details 2) - Interest rate swap - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012	Feb. 05, 2015	Feb. 04, 2015
Derivative and Hedging Activities
Notional Amount		$ 300,000	$ 300,000	$ 300,000
Fixed Leg Interest Rate (as a percent)	0.756%					1.063%
Weighted-Average Fixed Leg Interest Rate (as a percent)		0.756%	0.756%	0.756%
Weighted-Average Remaining Term		1 year 6 months	2 years 6 months	3 years 6 months
LIBOR
Derivative and Hedging Activities
Floating Rate, maturity	1 month
Fixed Leg Interest Rate (as a percent)					1.1175%	1.2985%
Designated as hedge | Cash flow hedge
Derivative and Hedging Activities
Notional Amount	$ 300,000
Fixed Leg Interest Rate (as a percent)	0.756%
Designated as hedge | Cash flow hedge | Other Asset
Derivative and Hedging Activities
Fair Value Gain	$ 576
Designated as hedge | Cash flow hedge | LIBOR
Derivative and Hedging Activities
Floating Rate, maturity	1 month

Derivatives and Hedging Activ60

Derivatives and Hedging Activities (Details 3) - Interest rate swap - Designated as hedge - Cash flow hedge - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Net of tax effect of cash flow hedge derivative instruments
Change in Unrealized Gain (Loss) Recognized in OCI on Derivatives, Effective Portion	$ (1,982)	$ (2,005)	$ 1,081
Interest expenses
Net of tax effect of cash flow hedge derivative instruments
Loss Reclassified from OCI into Income, Effective Portion	13,316	12,131	13,143
(Gain) Loss Recognized Directly in Income on Derivative, Ineffective Portion	(85)	(84)	(82)
Net settlements of interest rate derivatives, net of tax of ($685), ($720) and ($610), respectively	1,059	1,106	939
Net settlements of interest rate derivatives, tax	(685)	(720)	(610)
Amortization of terminated derivatives, net of tax of ($7,920), ($7,265) and ($7,774), respectively	12,257	11,025	12,204
Amortization of terminated derivatives, tax	$ (7,920)	$ (7,265)	$ (7,774)

Derivatives and Hedging Activ61

Derivatives and Hedging Activities (Details 4) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013	Feb. 04, 2015
Deferred (gains) and losses for the terminated interest rate derivatives and the related amortization into interest expense
Net interest settlements on active interest rate derivatives expected to be amortized over the next 12 months, net of tax	$ 208
Net interest settlements on active interest rate derivatives expected to be amortized over the next 12 months, tax	135
Deferred losses on the Company's terminated derivatives expected to be amortized over the next twelve months, net of tax	9,934
Deferred losses on the Company's terminated derivatives expected to be amortized over the next twelve months, tax	$ 6,424
Interest rate swap
Deferred (gains) and losses for the terminated interest rate derivatives and the related amortization into interest expense
Fixed Rate %	0.756%			1.063%
Interest rate swap | Designated as hedge | Cash flow hedge
Deferred (gains) and losses for the terminated interest rate derivatives and the related amortization into interest expense
Fixed Rate %	0.756%
Deferred Loss Upon Termination	$ 127,529
Unamortized Deferred (Gain) Loss	27,900
Amount of Deferred Loss Amortized (including Accelerated Amortization) into Interest Expense	20,177	$ 18,290	$ 19,978
Amount of Deferred Loss Expected to be Amortized over the Next 12 Months	16,358
Interest rate swap | Designated as hedge | Cash flow hedge | Terminated derivative at fixed rate of 5.299%, original maturity of Oct-2017
Deferred (gains) and losses for the terminated interest rate derivatives and the related amortization into interest expense
Original Maximum Notional Amount	$ 60,852
Fixed Rate %	5.299%
Deferred Loss Upon Termination	$ 1,853
Unamortized Deferred (Gain) Loss	(6)
Amount of Deferred Loss Amortized (including Accelerated Amortization) into Interest Expense	(2)	10	33
Amount of Deferred Loss Expected to be Amortized over the Next 12 Months	(6)
Interest rate swap | Designated as hedge | Cash flow hedge | Terminated derivative at fixed rate of 5.307%, original maturity of Jul-2017
Deferred (gains) and losses for the terminated interest rate derivatives and the related amortization into interest expense
Original Maximum Notional Amount	$ 200,000
Fixed Rate %	5.307%
Deferred Loss Upon Termination	$ 6,412
Unamortized Deferred (Gain) Loss	(17)
Amount of Deferred Loss Amortized (including Accelerated Amortization) into Interest Expense	(6)	45	141
Amount of Deferred Loss Expected to be Amortized over the Next 12 Months	(14)
Interest rate swap | Designated as hedge | Cash flow hedge | Terminated derivative at fixed rate of 5.58%, original maturity of Jul-2014
Deferred (gains) and losses for the terminated interest rate derivatives and the related amortization into interest expense
Original Maximum Notional Amount	$ 163,333
Fixed Rate %	5.58%
Deferred Loss Upon Termination	$ 3,773
Amount of Deferred Loss Amortized (including Accelerated Amortization) into Interest Expense		200	413
Interest rate swap | Designated as hedge | Cash flow hedge | Terminated derivative at fixed rate of 5.512%, original maturity of Oct-2014, one
Deferred (gains) and losses for the terminated interest rate derivatives and the related amortization into interest expense
Original Maximum Notional Amount	$ 150,000
Fixed Rate %	5.512%
Deferred Loss Upon Termination	$ 1,711
Amount of Deferred Loss Amortized (including Accelerated Amortization) into Interest Expense		44	65
Interest rate swap | Designated as hedge | Cash flow hedge | Terminated derivative at fixed rate of 5.512%, original maturity of Oct-2014, two
Deferred (gains) and losses for the terminated interest rate derivatives and the related amortization into interest expense
Original Maximum Notional Amount	$ 150,000
Fixed Rate %	5.512%
Deferred Loss Upon Termination	$ 3,498
Amount of Deferred Loss Amortized (including Accelerated Amortization) into Interest Expense		139	235
Interest rate swap | Designated as hedge | Cash flow hedge | Terminated derivative at fixed rate of 5.436%, original maturity of Oct-2017, one
Deferred (gains) and losses for the terminated interest rate derivatives and the related amortization into interest expense
Original Maximum Notional Amount	$ 480,088
Fixed Rate %	5.436%
Deferred Loss Upon Termination	$ 1,711
Unamortized Deferred (Gain) Loss	904
Amount of Deferred Loss Amortized (including Accelerated Amortization) into Interest Expense	662	145
Amount of Deferred Loss Expected to be Amortized over the Next 12 Months	526
Interest rate swap | Designated as hedge | Cash flow hedge | Terminated derivative at fixed rate of 5.436%, original maturity of Oct-2017, two
Deferred (gains) and losses for the terminated interest rate derivatives and the related amortization into interest expense
Original Maximum Notional Amount	$ 480,088
Fixed Rate %	5.436%
Deferred Loss Upon Termination	$ 1,526
Unamortized Deferred (Gain) Loss	682
Amount of Deferred Loss Amortized (including Accelerated Amortization) into Interest Expense	698	146
Amount of Deferred Loss Expected to be Amortized over the Next 12 Months	471
Interest rate swap | Designated as hedge | Cash flow hedge | Terminated derivative at fixed rate of 4.605%, original maturity of Jul-2014
Deferred (gains) and losses for the terminated interest rate derivatives and the related amortization into interest expense
Original Maximum Notional Amount	$ 163,333
Fixed Rate %	4.605%
Deferred Loss Upon Termination	$ 2,082
Amount of Deferred Loss Amortized (including Accelerated Amortization) into Interest Expense		(166)	(84)
Interest rate swap | Designated as hedge | Cash flow hedge | Terminated derivative at fixed rate of 4.743%, original maturity of Oct-2014
Deferred (gains) and losses for the terminated interest rate derivatives and the related amortization into interest expense
Original Maximum Notional Amount	$ 332,525
Fixed Rate %	4.743%
Deferred Loss Upon Termination	$ 7,641
Amount of Deferred Loss Amortized (including Accelerated Amortization) into Interest Expense		(167)	102
Interest rate swap | Designated as hedge | Cash flow hedge | Terminated derivative at fixed rate of 4.305%, original maturity of Oct-2017
Deferred (gains) and losses for the terminated interest rate derivatives and the related amortization into interest expense
Original Maximum Notional Amount	$ 58,238
Fixed Rate %	4.305%
Deferred Loss Upon Termination	$ 862
Unamortized Deferred (Gain) Loss	(45)
Amount of Deferred Loss Amortized (including Accelerated Amortization) into Interest Expense	(58)	(61)	(59)
Amount of Deferred Loss Expected to be Amortized over the Next 12 Months	(44)
Interest rate swap | Designated as hedge | Cash flow hedge | Terminated derivative at fixed rate of 4.365%, original maturity of Jul-2017
Deferred (gains) and losses for the terminated interest rate derivatives and the related amortization into interest expense
Original Maximum Notional Amount	$ 193,333
Fixed Rate %	4.365%
Deferred Loss Upon Termination	$ 3,265
Unamortized Deferred (Gain) Loss	(134)
Amount of Deferred Loss Amortized (including Accelerated Amortization) into Interest Expense	(206)	(247)	(209)
Amount of Deferred Loss Expected to be Amortized over the Next 12 Months	(114)
Interest rate swap | Designated as hedge | Cash flow hedge | Terminated derivative at fixed rate of 5.526%, original maturity of Jul-2014
Deferred (gains) and losses for the terminated interest rate derivatives and the related amortization into interest expense
Original Maximum Notional Amount	$ 37,000
Fixed Rate %	5.526%
Deferred Loss Upon Termination	$ 3,122
Amount of Deferred Loss Amortized (including Accelerated Amortization) into Interest Expense		335	809
Interest rate swap | Designated as hedge | Cash flow hedge | Terminated derivative at fixed rate of 3.989%, original maturity of Oct-2017
Deferred (gains) and losses for the terminated interest rate derivatives and the related amortization into interest expense
Original Maximum Notional Amount	$ 53,286
Fixed Rate %	3.989%
Deferred Loss Upon Termination	$ 2,048
Unamortized Deferred (Gain) Loss	204
Amount of Deferred Loss Amortized (including Accelerated Amortization) into Interest Expense	330	469	678
Amount of Deferred Loss Expected to be Amortized over the Next 12 Months	197
Interest rate swap | Designated as hedge | Cash flow hedge | Terminated derivative at fixed rate of 4.033%, original maturity of Jul-2017
Deferred (gains) and losses for the terminated interest rate derivatives and the related amortization into interest expense
Original Maximum Notional Amount	$ 181,667
Fixed Rate %	4.033%
Deferred Loss Upon Termination	$ 8,538
Unamortized Deferred (Gain) Loss	666
Amount of Deferred Loss Amortized (including Accelerated Amortization) into Interest Expense	1,321	2,135	2,944
Amount of Deferred Loss Expected to be Amortized over the Next 12 Months	579
Interest rate swap | Designated as hedge | Cash flow hedge | Terminated derivative at fixed rate of 4.328%, original maturity of Jul-2014
Deferred (gains) and losses for the terminated interest rate derivatives and the related amortization into interest expense
Original Maximum Notional Amount	$ 43,333
Fixed Rate %	4.328%
Deferred Loss Upon Termination	$ 11,033
Amount of Deferred Loss Amortized (including Accelerated Amortization) into Interest Expense		3,437	5,477
Interest rate swap | Designated as hedge | Cash flow hedge | Terminated derivative at fixed rate of 4.147%, original maturity of Oct-2014
Deferred (gains) and losses for the terminated interest rate derivatives and the related amortization into interest expense
Original Maximum Notional Amount	$ 211,567
Fixed Rate %	4.147%
Deferred Loss Upon Termination	$ 17,002
Amount of Deferred Loss Amortized (including Accelerated Amortization) into Interest Expense		6,578	7,200
Interest rate swap | Designated as hedge | Cash flow hedge | Terminated derivative at fixed rate of 4%, original maturity of Oct-2014
Deferred (gains) and losses for the terminated interest rate derivatives and the related amortization into interest expense
Original Maximum Notional Amount	$ 150,000
Fixed Rate %	4.00%
Deferred Loss Upon Termination	$ 5,080
Amount of Deferred Loss Amortized (including Accelerated Amortization) into Interest Expense		1,960	$ 2,233
Interest rate swap | Designated as hedge | Cash flow hedge | Terminated derivative at fixed rate of 5.174%, original maturity of Oct-2017
Deferred (gains) and losses for the terminated interest rate derivatives and the related amortization into interest expense
Original Maximum Notional Amount	$ 427,407
Fixed Rate %	5.174%
Deferred Loss Upon Termination	$ 46,372
Unamortized Deferred (Gain) Loss	25,646
Amount of Deferred Loss Amortized (including Accelerated Amortization) into Interest Expense	17,438	$ 3,288
Amount of Deferred Loss Expected to be Amortized over the Next 12 Months	$ 14,763

Commitments and Contingencies62

Commitments and Contingencies (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Lease Commitments
Rental expense under operating leases	$ 14,417	$ 8,541	$ 9,660
2,016	15,672
2,017	12,393
2,018	5,168
2,019	3,767
2,020	3,407
Thereafter	15,532
Total	55,939
Equipment Leased
Purchase Commitments
Commitments for capital expenditures for leasing equipment	40,297
Capital expenditure commitment in 2016	37,517
Capital expenditure commitment in 2017	$ 2,780

Commitments and Contingencies63

Commitments and Contingencies (Details 2) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Indemnifications
Guarantees and Indemnifications
Accrued losses	$ 0	$ 0
ILWU Roadability Program - Inspection Fees
Guarantees and Indemnifications
Invoices received for inspection fees	$ 1,800

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Domestic and foreign pre-tax income
Domestic	$ 42,204	$ (7,988)	$ (13,472)
Foreign	2,394	1,587	2,273
Income (loss) before provision (benefit) for income taxes	44,598	(6,401)	(11,199)
Current taxes:
Federal	10	(795)	796
State	(211)	713	54
Foreign	162	67	398
Total current taxes	(39)	(15)	1,248
Deferred taxes:
Federal	15,101	(2,115)	14,211
State	2,832	(1,395)	1,936
Foreign	(14)	80	759
Total deferred taxes	17,919	(3,430)	16,906
Total provision (benefit) for income taxes	$ 17,880	$ (3,445)	18,154
Capital gain recognized from the distribution of stock in a related company			$ 56,120
Reconciliation of the U.S. statutory tax rate to the effective tax rate for continuing operations
U.S. statutory rate (as a percent)	35.00%	35.00%	35.00%
State taxes (as a percent)	5.80%	12.90%	(12.20%)
Foreign earnings taxed at other than 35% (as a percent)	(1.10%)	7.50%	(4.80%)
Gain (as a percent)			(175.30%)
Changes in uncertain tax positions (as a percent)		(6.30%)	(0.10%)
Valuation allowances (as a percent)		5.10%	(5.60%)
Permanent tax items (as a percent)	0.40%	(0.40%)	0.90%
Effective tax rate (as a percent)	40.10%	53.80%	(162.10%)
Deferred tax assets:
Loss carryforwards	$ 302,485	$ 304,263
Derivative instruments	10,821	18,148
Other	5,741	8,977
Deferred tax assets	319,047	331,388
Valuation allowance	(199)	(2,205)
Total deferred tax assets	318,848	329,183
Deferred tax liabilities:
Operating property, net	435,376	412,706
Derivative Instruments	11,052	18,944
Total deferred tax liabilities	446,428	431,650
Net deferred tax liabilities	127,580	102,467
Additional disclosures
PALs carryforwards	228,931
NOLs carryforwards	$ 538,574
Maximum remaining expiration period relating to state NOL and capital loss carryforwards	5 years
Reconciliation of the beginning and ending amount of unrecognized tax benefits
Balance at the beginning of the period	$ 977	84
Change during the period		893
Balance at the end of the period	977	977	$ 84
Unrecognized tax benefits, including interest and penalties	706	696	152
Interest and penalties	$ 16	94	9
Period from utilization, regardless of year of origin, for NOLs to remain subject to audit	3 years
Cumulative undistributed foreign earnings	$ 4,306	$ 2,610	$ 1,098

Accumulated Other Comprehensi65

Accumulated Other Comprehensive Loss (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Changes in accumulated other comprehensive (loss) by component:
Balance at the beginning of the period	$ (28,617)	$ (38,348)	$ (51,976)
Current-period other comprehensive income (loss)	10,514	9,731	13,628
Balance at the end of the period	(18,103)	(28,617)	(38,348)
Net settlements and amortization of interest rate derivative
Net interest settlements on active interest rate derivatives expected to be amortized over the next 12 months, net of tax	208
Net interest settlements on active interest rate derivatives expected to be amortized over the next 12 months, tax	135
Deferred losses on the Company's terminated derivatives expected to be amortized over the next twelve months, net of tax	9,934
Deferred losses on the Company's terminated derivatives expected to be amortized over the next twelve months, tax	6,424
Unrealized Gain (Loss) on Derivative Instruments
Changes in accumulated other comprehensive (loss) by component:
Balance at the beginning of the period	1,121	2,020
Current-period other comprehensive income (loss)	(923)	(899)	2,020
Balance at the end of the period	198	1,121	2,020
Net Derivative Loss to be Reclassified into Earnings
Changes in accumulated other comprehensive (loss) by component:
Balance at the beginning of the period	(29,201)	(40,226)	(52,430)
Current-period other comprehensive income (loss)	12,257	11,025	12,204
Balance at the end of the period	(16,944)	(29,201)	(40,226)
Foreign Currency Translation
Changes in accumulated other comprehensive (loss) by component:
Balance at the beginning of the period	(537)	(142)	454
Current-period other comprehensive income (loss)	(820)	(395)	(596)
Balance at the end of the period	$ (1,357)	$ (537)	$ (142)

Accumulated Other Comprehensi66

Accumulated Other Comprehensive Loss (Details 2) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Income Statement Totals
Interest expense	$ 80,246	$ 86,837	$ 91,085
Benefit for income taxes	17,880	(3,445)	18,154
Net loss reclassified out of AOCI	(26,718)	2,956	29,353
AOCI reclassifications | Net Derivative Loss to be Reclassified into Earnings
Income Statement Totals
Interest expense	20,177	18,290	19,978
Benefit for income taxes	(7,920)	(7,265)	(7,774)
Net loss reclassified out of AOCI	$ 12,257	$ 11,025	$ 12,204

Share-Based Payment (Details)

Share-Based Payment (Details) - USD ($) $ / shares in Units, $ in Thousands	Dec. 31, 2015	Dec. 01, 2013	May. 01, 2013	Mar. 01, 2013	Mar. 28, 2012	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012	Mar. 27, 2012
SCT Chassis, Inc - legal entity
Share-based payments, additional information
Common shares, authorized share capital (in shares)					71,000,000
Common shares, par value (in dollars per share)					$ 0.01
Common shares, outstanding	69,044,081					69,044,081
Seacastle Inc. | SCT Chassis, Inc - legal entity
Share-based payments, additional information
Shares of common stock issued to related party.					68,459,471
Number of shares owned by related party										200
SCT Chassis, Inc. | Interpool
Share-based payments, additional information
Number of shares purchased for award									584,410
Cost of shares purchased for award									$ 3,615
Restricted shares | SCT Chassis, Inc - legal entity
Share-based payments, additional information
Number of shares granted							0
Restricted shares | SCT Chassis, Inc.
Share-based payments, additional information
Additional grants contingent upon achievement of certain performance or market conditions (in shares)	1,096,954					1,096,954
Share-based compensation expense recorded related to shares to be granted on achievement of certain conditions	$ 0					$ 0
Total number of shares authorized for grant under the plan	2,470,012					2,470,012
Additional shares available for future grant (in shares)	2,009,891					2,009,891
Number of shares vesting in equal increments	49,261					49,261
Share-based compensation expense						$ 625	$ 810	$ 1,181
Unrecognized compensation expense	$ 478					$ 478
Remaining weighted-average vesting period over which the total unrecognized compensation cost is expected to be recognized						1 year 8 months 12 days
Shares
Non-vested at the beginning of the period (in shares)						180,217	352,443	451,360
Granted (in shares)		50,000	21,570	27,599		63,963		99,169
Forfeited (in shares)							(20,000)	(23,750)
Vested (in shares)	(14,702)			(6,900)		(142,010)	(152,226)	(174,336)
Non-vested at the end of the period (in shares)	102,170					102,170	180,217	352,443	451,360
Weighted-Average Grant Date Fair Value per share
Non-vested at the beginning of the period (in dollars per share)						$ 6.71	$ 6.61	$ 6.29
Granted (in dollars per share)		$ 7.63	$ 7.63	$ 7.15		10.52		7.50
Forfeited (in dollars per share)							6.17	6.17
Vested (in dollars per share)						6.93	6.54	6.34
Non-vested at the end of the period (in dollars per share)	$ 8.79					$ 8.79	$ 6.71	$ 6.61	$ 6.29
Fair Value of Shares at Grant Date
Non-vested at the beginning of the period (in dollars)						$ 1,209	$ 2,328	$ 2,837
Granted (in dollars)		$ 382	$ 165	$ 197		673		743
Forfeited (in dollars)							(123)	(146)
Vested (in dollars)						(984)	(996)	(1,106)
Non-vested at the end of the period (in dollars)	$ 898					$ 898	$ 1,209	$ 2,328	$ 2,837

Share-Based Payment (Details 2)

Share-Based Payment (Details 2) - SCT Chassis, Inc. - Interpool - USD ($) $ / shares in Units, $ in Thousands	Oct. 08, 2015	Dec. 31, 2015
Share repurchases
Number of shares repurchased by Interpool		53,972
Cost of shares repurchased by Interpool		$ 594
Restricted shares
Share repurchases
Number of shares repurchased by Seacastle, Inc.	78,414
Cost of shares repurchased by Seacastle, Inc, (in dollars per share)	$ 12.67
Cost of shares repurchased by Seacastle, Inc.	$ 993

Segment and Geographic Inform69

Segment and Geographic Information (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2015USD ($)segment	Dec. 31, 2014USD ($)	Dec. 31, 2013USD ($)
Segment and Geographic Information
Number of operating and reportable segments | segment	2
Segment information
Total revenue	$ 691,424	$ 626,988	$ 515,244
Adjusted EBITDA	227,228	200,932	162,964
Depreciation expense	72,128	72,114	71,791
Net investment in direct finance leases	12,797	16,215	25,026
Leasing equipment	1,435,978	1,436,909	1,394,088
Capital expenditures for long-lived assets	$ 92,277	154,375	145,338
Minimum
Segment information
Period of entering into pool user agreements for customers	1 year
Maximum
Segment information
Period of entering into pool user agreements for customers	3 years
Term revenue
Segment information
Total revenue	$ 53,897	56,080	64,009
Pool revenue
Segment information
Total revenue	607,350	532,207	408,562
All other revenue
Segment information
Total revenue	30,177	38,701	42,673
Operating segments | Marine Market segment
Segment information
Total revenue	497,268	441,201	345,163
Adjusted EBITDA	150,934	127,779	96,731
Depreciation expense	38,333	37,867	33,862
Net investment in direct finance leases	12,657	16,105	24,865
Leasing equipment	752,056	789,874	742,434
Capital expenditures for long-lived assets	33,656	111,604	102,837
Operating segments | Marine Market segment | Term revenue
Segment information
Total revenue	37,938	38,767	45,782
Operating segments | Marine Market segment | Pool revenue
Segment information
Total revenue	444,513	380,491	273,391
Operating segments | Marine Market segment | All other revenue
Segment information
Total revenue	14,817	21,943	25,990
Operating segments | Domestic Market segment
Segment information
Total revenue	187,387	178,644	160,250
Adjusted EBITDA	107,305	99,313	79,410
Depreciation expense	27,165	26,666	30,923
Net investment in direct finance leases	140	110	161
Leasing equipment	534,573	501,609	475,371
Capital expenditures for long-lived assets	41,701	37,772	38,276
Operating segments | Domestic Market segment | Term revenue
Segment information
Total revenue	15,959	17,313	18,227
Operating segments | Domestic Market segment | Pool revenue
Segment information
Total revenue	162,837	151,716	135,171
Operating segments | Domestic Market segment | All other revenue
Segment information
Total revenue	8,591	9,615	6,852
Other
Segment information
Total revenue	6,769	7,143	9,831
Adjusted EBITDA	(31,011)	(26,160)	(13,177)
Depreciation expense	6,630	7,581	7,006
Leasing equipment	149,349	145,426	176,283
Capital expenditures for long-lived assets	16,920	4,999	4,225
Other | All other revenue
Segment information
Total revenue	$ 6,769	$ 7,143	$ 9,831

Segment and Geographic Inform70

Segment and Geographic Information (Details 2) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Reconciliations of the total measure of profit or loss to the Company's net loss
Adjusted EBITDA	$ 227,228	$ 200,932	$ 162,964
Principal collections on direct finance leases, net of interest earned	(3,665)	(4,622)	(5,706)
Non-cash share-based compensation	(625)	(810)	(1,181)
Interest expense	(80,246)	(86,837)	(91,085)
Depreciation expense	(72,128)	(72,114)	(71,791)
Impairment of leasing equipment	(7,277)	(5,855)	(5,857)
Early retirement of leasing equipment		(37,766)
Loss on modification and extinguishment of debt and capital lease obligations	(19,852)	(315)	(904)
Interest income	19	61	287
Other income, net	1,144	925	2,074
Income (loss) before provision (benefit) for income taxes	44,598	(6,401)	(11,199)
Provision (benefit) for income taxes	17,880	(3,445)	18,154
Net income (loss)	$ 26,718	$ (2,956)	$ (29,353)

Defined Contribution Plan (Deta

Defined Contribution Plan (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Defined Contribution Plan
Matching contributions as a percentage of the employee's contribution	100.00%
Maximum employee contribution as a percentage of the employee's compensation	6.00%
Contribution to the plan	$ 1,993	$ 1,961	$ 1,283

Related Party Transactions (Det

Related Party Transactions (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Related party transactions
Net receivable from affiliates	$ 584	$ 705
Tax gain resulting from receipt of one-time stock distribution			$ 56,120
Income tax provision related to tax gain on receipt of stock distribution			22,100
Seacastle Inc.
Related party transactions
Management fees charged to related party	124	107	296
Florida East Coast Railway
Related party transactions
Revenue from related party	$ 2,242	$ 1,766	$ 1,028

Fair Value of Financial Instr73

Fair Value of Financial Instruments (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Feb. 04, 2015	Jan. 10, 2013
Liabilities:
Total debt and capital lease obligations	$ (1,080,679)	$ (1,164,222)
Debt
Variable interest rate debt	584,401	479,334
Variable rate debt effectively converted to fixed rate			$ 300,000
Fixed rate debt	496,278	684,888
Fair Value
Assets:
Derivative instruments	576	2,015
Liabilities:
Total debt and capital lease obligations	(1,094,088)	(1,186,862)
Reported Value Measurement
Assets:
Derivative instruments	576	2,015
Liabilities:
Total debt and capital lease obligations	$ (1,080,679)	(1,164,222)
Interest rate swap
Derivative instruments
Maximum percentage of principal amount of debt for optional redemption with equity offering proceeds	35.00%
Debt redemption price as percentage of principal amount, for optional redemption with equity offering proceeds	111.00%
Debt
Variable rate debt effectively converted to fixed rate	$ 300,000	$ 300,000		$ 300,000
Level 2 | Fixed rate debt
Debt
Discount rate (as a percent)	4.90%	4.87%
Recurring | Fair Value
Assets:
Cash and cash equivalents	$ 3,161	$ 4,256
Derivative instruments	576	2,015
Recurring | Level 1 | Fair Value
Assets:
Cash and cash equivalents	3,161	4,256
Recurring | Level 2 | Fair Value
Assets:
Derivative instruments	$ 576	$ 2,015

Guarantor Financial Informati74

Guarantor Financial Information (Details) - USD ($) $ in Thousands	Jul. 05, 2013	Aug. 09, 2012	Dec. 31, 2015	Aug. 17, 2015	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Assets
Cash and cash equivalents			$ 3,161		$ 4,256	$ 11,843	$ 26,556
Accounts receivable, net			110,662		135,076
Net investment in direct finance leases			12,797		16,215	25,026
Leasing equipment, net of accumulated depreciation			1,435,978		1,436,909	1,394,088
Goodwill			251,907		251,907
Affiliate and intercompany receivable			584		704
Investment in subsidiary			237
Other assets			32,170		19,695
Total assets			1,847,496		1,864,762
Liabilities and member's interest
Accounts payable, accrued expenses and other liabilities			88,933		89,230
Deferred income taxes, net			127,580		102,467
Debt and Capital Lease Obligations Less Debt Issuance Costs			1,062,329		1,142,667
Total liabilities			1,278,842		1,334,364
Total member's interest			568,654		530,398	523,658	538,907
Total liabilities and member's interest			$ 1,847,496		$ 1,864,762
Senior Secured 11% Notes
Condensed Consolidating Balance Sheet
Interest rate (as a percent)			11.00%		11.00%
Redemption of principal amount				$ 150,000
Senior Secured 11% Notes | Unregistered Original Notes
Condensed Consolidating Balance Sheet
Total principal amount of the Original Notes sold		$ 300,000
Interest rate (as a percent)		11.00%
Days from closing to file registration statement with the SEC		365 days
Aggregate principal amount of the Original Notes validly tendered under exchange offer	$ 300,000
Percentage of principal amount of the outstanding Original Notes validly tendered under exchange offer	100.00%
Eliminations
Assets
Net investment in direct finance leases			$ (7,667)		$ (8,961)
Affiliate and intercompany receivable			(6)		(8)
Intercompany interest receivable			(6,188)		(12,467)
Intercompany note receivable			(150,000)		(300,000)
Investment in subsidiary			(574,992)		(535,040)
Total assets			(738,853)		(856,476)
Liabilities and member's interest
Intercompany payable			(6)		(8)
Intercompany note payable			(150,000)		(300,000)
Intercompany interest payable			(6,188)		(12,467)
Intercompany lease payable			(7,667)		(8,961)
Total liabilities			(163,861)		(321,436)
Total member's interest			(574,992)		(535,040)
Total liabilities and member's interest			(738,853)		(856,476)
Issuer Parent | Reportable Legal Entities
Assets
Intercompany interest receivable			6,188		12,467
Intercompany note receivable			150,000		300,000
Investment in subsidiary			568,654		530,398
Total assets			724,842		842,865
Liabilities and member's interest
Accounts payable, accrued expenses and other liabilities			6,188		12,467
Debt and Capital Lease Obligations Less Debt Issuance Costs			150,000		300,000
Total liabilities			156,188		312,467
Total member's interest			568,654		530,398
Total liabilities and member's interest			$ 724,842		842,865
Guarantor Subsidiaries
Condensed Consolidating Balance Sheet
Percentage ownership of subsidiaries			100.00%
Guarantor Subsidiaries | Reportable Legal Entities
Assets
Cash and cash equivalents			$ 91		2,037	11,308	25,837
Accounts receivable, net			110,039		134,765
Net investment in direct finance leases			20,464		25,176
Leasing equipment, net of accumulated depreciation			1,423,788		1,424,112
Goodwill			251,907		251,907
Affiliate and intercompany receivable			590		704
Investment in subsidiary			6,575		4,642
Other assets			31,911		19,411
Total assets			1,845,365		1,862,754
Liabilities and member's interest
Accounts payable, accrued expenses and other liabilities			82,598		76,705
Intercompany payable					8
Intercompany note payable			150,000		300,000
Intercompany interest payable			6,188		12,467
Deferred income taxes, net			125,596		100,509
Debt and Capital Lease Obligations Less Debt Issuance Costs			912,329		842,667
Total liabilities			1,276,711		1,332,356
Total member's interest			568,654		530,398
Total liabilities and member's interest			1,845,365		1,862,754
Non-Guarantor Subsidiaries | Reportable Legal Entities
Assets
Cash and cash equivalents			3,070		2,219	$ 535	$ 719
Accounts receivable, net			623		311
Leasing equipment, net of accumulated depreciation			12,190		12,797
Affiliate and intercompany receivable					8
Other assets			259		284
Total assets			16,142		15,619
Liabilities and member's interest
Accounts payable, accrued expenses and other liabilities			147		58
Intercompany payable			6
Intercompany lease payable			7,667		8,961
Deferred income taxes, net			1,984		1,958
Total liabilities			9,804		10,977
Total member's interest			6,338		4,642
Total liabilities and member's interest			$ 16,142		$ 15,619

Guarantor Financial Informati75

Guarantor Financial Information (Details 2) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Condensed Consolidating Statements of Operations and Comprehensive (Loss) Income
Total Revenue	$ 691,424	$ 626,988	$ 515,244
Direct operating expenses	377,715	333,135	289,767
Selling, general and administrative expenses	91,279	84,346	58,031
Depreciation expense	72,128	72,114	71,791
Provision for doubtful accounts	(258)	14,007	11,369
Impairment of leasing equipment	7,277	5,855	5,857
Early retirement of leasing equipment		37,766
Loss on modification and extinguishment of debt and capital lease obligations	19,852	315	904
Interest expense	80,246	86,837	91,085
Interest income	(19)	(61)	(287)
Other income, net	(1,394)	(925)	(2,074)
Total expenses	646,826	633,389	526,443
Income before provision for income taxes	44,598	(6,401)	(11,199)
Provision for income taxes	17,880	(3,445)	18,154
Net income (loss)	26,718	(2,956)	(29,353)
Unrealized gain on derivative instruments, net of tax	(923)	(899)	2,020
Derivative loss reclassified into earnings, net of tax	12,257	11,025	12,204
Foreign currency translation loss, net of tax	(820)	(395)	(596)
Total other comprehensive income	10,514	9,731	13,628
Total comprehensive income (loss)	37,232	6,775	(15,725)
Consolidated Statements of Comprehensive Income (Parenthetical)
Unrealized loss on derivative instruments, net of tax	601	585	(1,313)
Derivative loss reclassified into earnings, tax	(7,920)	(7,265)	(7,774)
Foreign currency translation, tax	636	364	398
Eliminations
Condensed Consolidating Statements of Operations and Comprehensive (Loss) Income
Total Revenue	(237)	(276)	(314)
Interest expense	(26,958)	(33,276)	(33,321)
Interest income	26,721	33,000	33,007
Equity in earnings of subsidiary	28,414	(1,444)	(28,740)
Total expenses	28,177	(1,720)	(29,054)
Income before provision for income taxes	(28,414)	1,444	28,740
Net income (loss)	(28,414)	1,444	28,740
Total comprehensive income (loss)	(28,414)	1,444	28,740
Issuer Parent | Reportable Legal Entities
Condensed Consolidating Statements of Operations and Comprehensive (Loss) Income
Interest expense	26,721	33,000	33,000
Interest income	(26,721)	(33,000)	(33,000)
Equity in earnings of subsidiary	(26,718)	2,956	29,353
Total expenses	(26,718)	2,956	29,353
Income before provision for income taxes	26,718	(2,956)	(29,353)
Net income (loss)	26,718	(2,956)	(29,353)
Total comprehensive income (loss)	26,718	(2,956)	(29,353)
Guarantor Subsidiaries | Reportable Legal Entities
Condensed Consolidating Statements of Operations and Comprehensive (Loss) Income
Total Revenue	688,460	624,059	512,351
Direct operating expenses	377,673	333,095	289,726
Selling, general and administrative expenses	90,674	83,788	57,303
Depreciation expense	71,556	71,518	71,120
Provision for doubtful accounts	(258)	14,007	11,369
Impairment of leasing equipment	7,277	5,855	5,857
Early retirement of leasing equipment		37,766
Loss on modification and extinguishment of debt and capital lease obligations	19,852	315	904
Interest expense	80,243	86,836	91,083
Interest income	(19)	(61)	(294)
Equity in earnings of subsidiary	(1,696)	(1,512)	(613)
Other income, net	(1,386)	(925)	(2,069)
Total expenses	643,916	630,682	524,386
Income before provision for income taxes	44,544	(6,623)	(12,035)
Provision for income taxes	17,826	(3,667)	17,318
Net income (loss)	26,718	(2,956)	(29,353)
Unrealized gain on derivative instruments, net of tax	(923)	(899)	2,020
Derivative loss reclassified into earnings, net of tax	12,257	11,025	12,204
Foreign currency translation loss, net of tax	(820)	(395)	(596)
Total other comprehensive income	10,514	9,731	13,628
Total comprehensive income (loss)	37,232	6,775	(15,725)
Consolidated Statements of Comprehensive Income (Parenthetical)
Foreign currency translation, tax			398
Non-Guarantor Subsidiaries | Reportable Legal Entities
Condensed Consolidating Statements of Operations and Comprehensive (Loss) Income
Total Revenue	3,201	3,205	3,207
Direct operating expenses	42	40	41
Selling, general and administrative expenses	605	558	728
Depreciation expense	572	596	671
Interest expense	240	277	323
Other income, net	(8)		(5)
Total expenses	1,451	1,471	1,758
Income before provision for income taxes	1,750	1,734	1,449
Provision for income taxes	54	222	836
Net income (loss)	1,696	1,512	613
Total comprehensive income (loss)	$ 1,696	$ 1,512	$ 613

Guarantor Financial Informati76

Guarantor Financial Information (Details 3) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Condensed Consolidating Statement of Cash Flows
Net cash provided by operating activities	$ 181,335	$ 138,549	$ 66,756
Investing activities:
Proceeds from sale of leasing equipment	11,528	8,265	7,066
Collections on net investment in direct finance leases, net of interest earned	3,665	4,622	5,706
Purchase of leasing equipment	(75,357)	(149,376)	(141,113)
Purchase of fixed assets	(16,920)	(4,999)	(4,225)
Proceeds from sale of other assets, net of other investing activities	2,056
Net cash used in investing activities	(75,028)	(141,488)	(132,566)
Financing activities:
Proceeds from long-term debt	1,179,194	148,000	142,000
Repayments of long-term debt	(1,263,736)	(148,292)	(87,290)
Cash paid for debt issuance fees	(9,999)	(3,156)	(2,267)
Premium paid for redemption of notes	(12,375)
Sale of investment in indirect parent	993
Excess tax benefits - restricted shares			73
Repurchase of shares from employees	(594)	(858)	(820)
Net cash (used in) provided by financing activities	(106,517)	(4,306)	51,696
Effect of changes in exchange rates on cash and cash equivalents	(885)	(342)	(599)
Net (decrease) increase in cash and cash equivalents	(1,095)	(7,587)	(14,713)
Cash and cash equivalents, beginning of year	4,256	11,843	26,556
Cash and cash equivalents, end of period	3,161	4,256	11,843
Eliminations
Condensed Consolidating Statement of Cash Flows
Net cash provided by operating activities	1,514	1,654	2,401
Investing activities:
Collections on net investment in direct finance leases, net of interest earned	(1,514)	(1,654)	(2,401)
Net cash used in investing activities	(1,514)	(1,654)	(2,401)
Guarantor Subsidiaries | Reportable Legal Entities
Condensed Consolidating Statement of Cash Flows
Net cash provided by operating activities	178,970	135,211	64,539
Investing activities:
Proceeds from sale of leasing equipment	11,528	8,265	7,066
Collections on net investment in direct finance leases, net of interest earned	5,179	6,276	8,107
Purchase of leasing equipment	(75,357)	(149,376)	(141,113)
Purchase of fixed assets	(16,920)	(4,999)	(4,225)
Proceeds from sale of other assets, net of other investing activities	2,056
Net cash used in investing activities	(73,514)	(139,834)	(130,165)
Financing activities:
Proceeds from long-term debt	1,179,194	148,000	142,000
Repayments of long-term debt	(1,263,736)	(148,292)	(87,290)
Cash paid for debt issuance fees	(9,999)	(3,156)	(2,267)
Premium paid for redemption of notes	(12,375)
Sale of investment in indirect parent	993
Excess tax benefits - restricted shares			73
Repurchase of shares from employees	(594)	(858)	(820)
Net cash (used in) provided by financing activities	(106,517)	(4,306)	51,696
Effect of changes in exchange rates on cash and cash equivalents	(885)	(342)	(599)
Net (decrease) increase in cash and cash equivalents	(1,946)	(9,271)	(14,529)
Cash and cash equivalents, beginning of year	2,037	11,308	25,837
Cash and cash equivalents, end of period	91	2,037	11,308
Non-Guarantor Subsidiaries | Reportable Legal Entities
Condensed Consolidating Statement of Cash Flows
Net cash provided by operating activities	851	1,684	(184)
Financing activities:
Net (decrease) increase in cash and cash equivalents	851	1,684	(184)
Cash and cash equivalents, beginning of year	2,219	535	719
Cash and cash equivalents, end of period	$ 3,070	$ 2,219	$ 535

Subsequent Events (Details)

Subsequent Events (Details) $ / shares in Units, $ in Thousands	Feb. 29, 2016USD ($)tier	Jan. 14, 2015USD ($)$ / sharesshares	Dec. 31, 2015USD ($)	Feb. 05, 2015USD ($)	Feb. 04, 2015USD ($)	Dec. 31, 2014USD ($)	Jan. 10, 2013USD ($)
Subsequent events
Variable rate debt effectively converted to fixed rate					$ 300,000
Forward Contracts
Subsequent events
Variable rate debt effectively converted to fixed rate					300,000
Swap
Subsequent events
Variable rate debt effectively converted to fixed rate					$ 300,000
Interest rate swap
Subsequent events
Variable rate debt effectively converted to fixed rate			$ 300,000			$ 300,000	$ 300,000
Fixed interest rate payable (as a percent)			0.756%		1.063%
Interest rate swap | LIBOR
Subsequent events
Variable rate debt effectively converted to fixed rate				$ 100,000	$ 50,000
Fixed interest rate payable (as a percent)				1.1175%	1.2985%
Subsequent Event
Subsequent events
Number of tires committed to purchase from an affiliate of acquired company | tier	45,000
Period for purchase of tires under purchase commitment (in years)	5 years
Total purchase commitment	$ 27,700
Subsequent Event | Interstar
Subsequent events
Purchase consideration	5,700
Earn-out provision included in the purchase consideration	$ 1,000
ABL Facility
Subsequent events
Borrowings		$ 52,000
ABL Facility | Interpool
Subsequent events
Number of shares repurchased and retired | shares		62
Common shares, par value (in dollars per share) | $ / shares		$ 0.01
Repurchase amount		$ 51,000

SCHEDULE II Valuation and Qua78

SCHEDULE II Valuation and Qualifying Accounts (Details) - Allowance for Doubtful Accounts - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Movement in valuation and qualifying accounts
Beginning Balance	$ 19,030	$ 12,475	$ 7,325
Additions (Reversals)	(258)	14,007	11,369
(Write-offs) Reversals	(6,300)	(7,445)	(6,214)
Other	(18)	(7)	(5)
Ending Balance	$ 12,454	$ 19,030	$ 12,475