TRAC Intermodal 10-K 7 Mar 17 2016 FY Annual report Financial data

Document and Entity Information

Document and Entity Information	12 Months Ended
	Dec. 31, 2016USD ($)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, 2016
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	2,016
Document Fiscal Period Focus	FY

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015
Assets
Cash and cash equivalents	$ 15,620	$ 3,161
Accounts receivable, net of allowances of $14,043 and $12,454, respectively	96,898	110,662
Net investment in direct finance leases	11,306	12,797
Leasing equipment, net of accumulated depreciation of $482,104 and $452,962, respectively	1,408,370	1,435,978
Goodwill	256,815	251,907
Other assets	56,842	32,991
Total assets	1,845,851	1,847,496
Liabilities
Accounts payable	15,345	13,593
Accrued expenses and other liabilities	47,285	75,340
Deferred income taxes, net	147,765	127,580
Debt and capital lease obligations:
Due within one year	9,173	41,396
Due after one year	1,088,228	1,039,283
Total debt and capital lease obligations	1,097,401	1,080,679
Less unamortized debt issuance costs	13,244	18,350
Total debt and capital lease obligations less debt issuance costs	1,084,157	1,062,329
Total liabilities	1,294,552	1,278,842
Redeemable indirect parent shares held by management	2,076
Commitments and contingencies (Note 9)
Member's interest:
Member's interest	552,654	586,757
Accumulated other comprehensive loss	(3,431)	(18,103)
Total member's interest	549,223	568,654
Total liabilities and member's interest	$ 1,845,851	$ 1,847,496

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015
Consolidated Balance Sheets
Accounts receivable, allowance	$ 14,043	$ 12,454
Leasing equipment, accumulated depreciation	$ 482,104	$ 452,962

Consolidated Statements of Oper

Consolidated Statements of Operations - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Revenues:
Equipment leasing revenue	$ 624,728	$ 661,247	$ 588,287
Finance revenue	1,390	1,536	2,111
Other revenue	43,085	28,641	36,590
Total revenues	669,203	691,424	626,988
Expenses:
Direct operating expenses	373,966	377,715	333,135
Selling, general and administrative expenses	98,023	91,279	84,346
Depreciation expense	74,414	72,128	72,114
Provision (recovery) for doubtful accounts	7,812	(258)	14,007
Impairment of leasing equipment	13,917	7,277	5,855
Early retirement of leasing equipment			37,766
Restructuring expense	1,806
Loss on modification and extinguishment of debt and capital lease obligations	7,486	19,852	315
Interest expense	62,777	80,246	86,837
Interest income	(109)	(19)	(61)
Other income, net	(1,607)	(1,394)	(925)
Total expenses	638,485	646,826	633,389
Income (loss) before provision (benefit) for income taxes	30,718	44,598	(6,401)
Provision (benefit) for income taxes	10,793	17,880	(3,445)
Net income (loss)	$ 19,925	$ 26,718	$ (2,956)

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Consolidated Statements of Comprehensive Income
Net income (loss)	$ 19,925	$ 26,718	$ (2,956)
Unrealized gain (loss) on derivative instruments, net of tax of $(3,061), $601 and $585, respectively	4,738	(923)	(899)
Derivative loss reclassified into earnings, net of tax of $(6,425), $(7,920) and $(7,265), respectively	9,934	12,257	11,025
Foreign currency translation gain (loss), net of tax of $(128), $636 and $364, respectively		(820)	(395)
Total other comprehensive income, net of tax	14,672	10,514	9,731
Total comprehensive income	$ 34,597	$ 37,232	$ 6,775

Consolidated Statements of Com6

Consolidated Statements of Comprehensive Income (Parenthetical) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Consolidated Statements of Comprehensive Income
Unrealized gain (loss) on derivative instruments, tax	$ (3,061)	$ 601	$ 585
Derivative loss reclassified into earnings, tax	(6,425)	(7,920)	(7,265)
Foreign currency translation gain (loss), tax	$ (128)	$ 636	$ 364

Consolidated Statements of Memb

Consolidated Statements of Member's Interest - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Increase (Decrease) in Members' Interest
Balance	$ 568,654	$ 530,398	$ 523,658
Repurchase of shares from employees	(306)	(594)	(858)
Share-based compensation	544	625	810
Dividend distribution	(51,145)
Modification of share-based awards	(2,501)
Revaluation of redeemable shares	(620)
Contribution from affiliate			13
Sale of Investment in indirect parent		993
Net income (loss)	19,925	26,718	(2,956)
Other comprehensive income	14,672	10,514	9,731
Balance	549,223	568,654	530,398
Member's Interest
Increase (Decrease) in Members' Interest
Balance	586,757	559,015	562,006
Repurchase of shares from employees	(306)	(594)	(858)
Share-based compensation	544	625	810
Dividend distribution	(51,145)
Modification of share-based awards	(2,501)
Revaluation of redeemable shares	(620)
Contribution from affiliate			13
Sale of Investment in indirect parent		993
Net income (loss)	19,925	26,718	(2,956)
Balance	552,654	586,757	559,015
Accumulated Other Comprehensive Loss
Increase (Decrease) in Members' Interest
Balance	(18,103)	(28,617)	(38,348)
Other comprehensive income	14,672	10,514	9,731
Balance	$ (3,431)	$ (18,103)	$ (28,617)

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Cash flows from operating activities
Net income (loss)	$ 19,925	$ 26,718	$ (2,956)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Depreciation and amortization	74,477	72,227	72,365
Provision (recovery) for doubtful accounts	7,812	(258)	14,007
Amortization of deferred financing fees	3,876	6,760	6,763
Loss on modification and extinguishment of debt and capital lease obligations	7,486	19,852	315
Derivative loss reclassified into earnings	16,359	20,177	18,290
Ineffective portion of cash flow hedges	251	(85)	(84)
Impairment of leasing equipment	13,917	7,277	5,855
Early retirement of leasing equipment			37,766
Share-based compensation	1,821	625	810
Deferred income taxes, net	10,613	19,123	(4,351)
Other, net	(918)	(1,320)	(928)
Changes in assets and liabilities:
Accounts receivable	7,573	24,405	(35,264)
Other assets	(2,471)	(906)	(1,013)
Accounts payable	(435)	(1,188)	2,689
Accrued expenses and other liabilities	(9,234)	(12,072)	24,285
Net cash provided by operating activities	151,052	181,335	138,549
Cash flows from investing activities
Proceeds from sale of leasing equipment	4,156	11,528	8,265
Collections on net investment in direct finance leases, net of interest earned	2,945	3,665	4,622
Business acquisition	(4,791)
Proceeds from sale of other assets, net of other investing activity		2,056
Investment in direct finance leases	(1,276)
Purchase of leasing equipment	(79,967)	(75,357)	(149,376)
Purchase of fixed assets	(16,545)	(16,920)	(4,999)
Net cash used in investing activities	(95,478)	(75,028)	(141,488)
Cash flows from financing activities
Proceeds from long-term debt	294,000	1,179,194	148,000
Repayments of long-term debt	(277,699)	(1,263,736)	(148,292)
Cash paid for debt issuance fees	(306)	(9,999)	(3,156)
Premium paid for redemption of notes	(5,775)	(12,375)
Sale of investment in indirect parent		993
Business acquisition contingent payment	(478)
Dividend paid	(51,145)
Repurchase of indirect parent shares from employees	(1,669)	(594)	(858)
Net cash used in financing activities	(43,072)	(106,517)	(4,306)
Effect of changes in exchange rates on cash and cash equivalents	(43)	(885)	(342)
Net increase (decrease) in cash and cash equivalents	12,459	(1,095)	(7,587)
Cash and cash equivalents, beginning of year	3,161	4,256	11,843
Cash and cash equivalents, end of year	15,620	3,161	4,256
Supplemental disclosures of cash flow information
Cash paid for interest	46,865	58,894	61,609
Cash paid (refunded) for taxes, net	$ 214	$ (854)	$ 1,136

Description of the Business and

Description of the Business and Basis of Presentation	12 Months Ended
	Dec. 31, 2016
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, 2016, the Company owned, leased-in or managed a fleet of approximately 303,246 chassis and units available for remanufacture. The net book value of the Company's owned equipment was approximately $1.42 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 provide 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. On February 29, 2016, TRAC Interstar LLC ("TRAC Interstar"), a newly formed, indirect wholly-owned subsidiary of the Company, acquired certain assets and assumed certain liabilities of the emergency road service business of Interstar Mobile, LLC and Interstar North America, Inc. (collectively "Interstar" and such acquisition and assumption, the "Interstar Acquisition") for a purchase price of $5,943 which includes a $1,000 earn-out provision based on future operating performance. The Company recorded $4,908 of goodwill related to the acquisition. 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 provides roadside repair services covering chassis, truck and trailer breakdowns 24 hours a day, 7 days a week, 365 days a year. 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 I 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, 2016, 2015 and 2014, approximately 54%, 58% and 62%, 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 3,800 motor carriers whose per diem billing rates are generally higher than that of shipping lines and railroad customers. Motor carrier billings represented approximately 56%, 56% and 48% of the Company's total revenues for the years ended December 31, 2016, 2015 and 2014, 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, 2016
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, 2016, 2015 and 2014, the Company earned approximately 38%, 41% and 45% of revenues from its top ten customers, respectively. The Company's largest customer accounted for approximately 8%, 7% and 6% of total revenues in 2016, 2015 and 2014, respectively. These revenues are included in the Domestic Market segment for 2016 and 2015 and the Marine Market segment for 2014. Based on balances due at December 31, 2016, 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 $6,760. 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 8% 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, 2016. The Company also has a concentration of credit within its direct finance lease portfolio. The Company's top three customers account for $10,098, $12,197 and $14,592 of the outstanding principal at December 31, 2016, 2015 and 2014, respectively which represents approximately 89%, 95% and 90% 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. 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 $30,771, $41,211 and $40,214 for the years ended December 31, 2016, 2015 and 2014, 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 $22,115, $12,701 and $2,712 for the years ended December 31, 2016, 2015 and 2014, 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. 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. Additionally in February 2016, the Company entered into three additional swap transactions, two with Deutsche Bank AG and one with PNC Bank. See 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, 2016, 2015 and 2014, the Company recorded net gains of $933, $1,327 and $928, respectively. Provision (Benefit) for Income Taxes The Company is a Limited Liability Company with a single member and therefore is disregarded for U.S. income tax purposes. However, its 100% owned subsidiary, Interpool, Inc. and its U.S. consolidated subsidiaries, are 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 (benefit) 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 2016 In August 2016, the FASB issued authoritative guidance on accounting for Statement of Cash Flows (Topic 230) Classification of Certain Cash Receipts and Cash Payments : ("ASU 2016-15"). The standard provides guidance on eight specific cash flow items and their classifications in the statement of cash flows thereby reducing the current and potential future diversity in practice. The amendments in this update are effective for fiscal years beginning after December 15, 2017 and interim periods within those fiscal years. Early adoption is permitted, provided that all of the amendments are adopted in the same period. The adoption of this standard in 2016 did not have any 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. We established a team comprised of people that are familiar with the contracts we have with our customers within each of our segments. We are in the process of performing a preliminary analysis with regard to such contracts to evaluate the potential effect of the new standard and related disclosures, as well as which transition method we will elect. We will continue to review the terms of such contracts to determine if material differences exist under the new standard versus our existing revenue recognition policy, and will update our disclosure as material changes, if any, are identified. 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. In March 2016, the FASB issued authoritative guidance on accounting for Compensation—Stock Compensation (Topic 718) Improvements to Employee Share-Based Payment Accounting: ("ASU 2016-09"). The amendments in this update affect all entities that issue share-based payment awards to their employees. The new guidance requires excess tax benefits and tax deficiencies to be recorded in the income statement when the awards vest or are settled. In addition, cash flows related to excess tax benefits will no longer be separately classified as a financing activity apart from other income tax cash flows. The standard also allows entities to repurchase more of an employee's shares for tax withholding purposes without triggering liability accounting, clarifies that all cash payments made on an employee's behalf for withheld shares should be presented as a financing activity on the cash flow statement, and provides an accounting policy election to account for forfeitures as they occur. The amendments in this update are effective for annual periods beginning after December 15, 2016, and interim periods within those annual periods. Early adoption is permitted. The adoption of this standard in 2017 will not have a significant impact on the Company's Consolidated Financial Statements. No other new accounting pronouncements issued or effective during 2016 had or are expected to have a material impact on the Company's Consolidated Financial Statements.

Leasing Activity

Leasing Activity	12 Months Ended
	Dec. 31, 2016
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, 2016, future minimum lease revenue under these agreements is estimated as follows: 2017 $ 2018 2019 2020 2021 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, 2016 and 2015, the Company had guaranteed and unguaranteed residual values for leasing equipment on direct finance leases of $8,656 and $8,673, respectively. At December 31, 2016, receivables under these direct finance leases are collectible through 2022 as follows: Total Lease Unearned Net Lease 2017 $ $ $ 2018 2019 2020 2021 Thereafter — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ $ $ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As of December 31, 2015, the Company had total lease receivables, unearned lease income and net lease receivables of $14,330, $1,533 and $12,797, 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, 2016
Leasing Equipment
Leasing Equipment	4. Leasing Equipment The following is a summary of leasing equipment recorded on the Consolidated Balance Sheets: December 31 2016 2015 Total leasing equipment $ $ Less accumulated depreciation ) ) ​ ​ ​ ​ ​ ​ ​ ​ Leasing equipment, net of accumulated depreciation $ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Leasing equipment includes assets recorded under capital leases of $22,008 and $121,817 with accumulated depreciation of $6,777 and $46,304 at December 31, 2016 and 2015, 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 $13,917, $7,277 and $5,855 for the years ended December 31, 2016, 2015 and 2014, respectively. The following is a summary of the Company's impairment charges recorded for the years ended December 31, 2016, 2015 and 2014 by category: December 31 2016 2015 2014 Shrinkage $ $ $ Corroded/Unusable Impairment ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 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, 2016
Capitalized Software Development Costs
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 from project approval in 2014 through December 31, 2016, the Company capitalized $23,398 of eligible costs in accordance with ASC 350-40, Internal-Use Software. The amounts capitalized at December 31, 2016 and 2015 were $23,398 and $9,675, respectively and 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, 2016
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 of $256,815 has been assigned to these two reporting units using a relative fair value allocation approach. The goodwill balance for the Marine Market segment was $134,730 at December 31, 2016 and $134,019 at December 31, 2015. The goodwill balance for the Domestic Market segment was $122,085 at December 31, 2016 and $117,888 at December 31, 2015. At December 31, 2016, 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, 2016, 2015 and 2014. The increase in goodwill in 2016 is due to the Interstar Acquisition on February 29, 2016 for a purchase price of $5,943. The acquisition was facilitated through TRAC Interstar, a newly formed, indirect wholly-owned subsidiary of the Company. The Company recorded $4,908 of goodwill related to the acquisition.

Borrowings

Borrowings	12 Months Ended
	Dec. 31, 2016
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 prepayment of existing indebtedness, 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. On January 14, 2016, the Company borrowed $51,000 (the "Repurchase Amount") under the revolving credit facility of the ABL Facility to finance the repurchase and retirement of 62 shares, par value $0.01 per share, of the common stock of Interpool held by the Company, the sole stockholder of Interpool Through a successive chain of dividends, the Repurchase Amount was received pro rata 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. The amount outstanding under the ABL Facility was $1,032,000 and $867,000 at December 31, 2016 and 2015, respectively. The weighted-average interest rates including amortized debt issuance fees for the years ended December 31, 2016, 2015 and 2014 was 3.11%, 3.51% and 3.60%, respectively. At December 31, 2016, $203,028 additional borrowing capacity was available under this facility. 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, 2016 and 2015, $11,989 and $14,519 was outstanding under these agreements. The weighted-average interest rates for the years ended December 31, 2016, 2015 and 2014 were 4.98%, 4.59% and 4.53%, respectively. Capital Lease Obligations At December 31, 2016 and 2015, the total capital lease obligations outstanding associated with leasing equipment were $8,412 and $49,160, respectively. The capital lease obligations mature in varying amounts from 2017 through 2021 and have stated or implicit rates ranging from 5.00% to 5.29%. The weighted-average interest rates for the years ended December 31, 2016, 2015 and 2014 were 4.86%, 4.81% and 4.96%, 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. During 2016, the Company exercised 16 purchase options related to its capital leases, four early purchase options and 12 from maturing capital leases for an aggregate purchase price of $47,107 and recognized a loss on modification and extinguishment of debt and capital lease obligations of $175. 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, 2016 and 2015, assets pledged as collateral are as follows: December 31 2016 2015 ABL Facility $ $ CIMC Loans Capital Lease Obligations ​ ​ ​ ​ ​ ​ ​ ​ Total Pledged as Collateral $ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ The Company's 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, 2016, 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, 2016, the Company was in compliance with all financial covenants as defined in each agreement. Debt Maturities The Company's outstanding debt, including capital lease obligations, as of December 31, 2016 matures as follows: 2017 $ 2018 2019 2020 2021 Thereafter — ​ ​ ​ ​ ​ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​" id="sjs-B4">7. Borrowings The following is a summary of the Company's borrowings: December 31 2016 2015 Debt Debt Debt Debt 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 4.05%, 5.37% and 5.78% for the years ended December 31, 2016, 2015 and 2014, 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 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. 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, the prepayment of existing indebtedness, 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 LIBOR + 2.25% and matures on December 10, 2020, which is the maturity date of the ABL Facility. 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. Additionally, approximately $3,058 of deferred financing fees were expensed upon redemption. On March 7, 2016, the Company announced its proposed offering of $485,000 aggregate principal amount of senior secured notes due 2021. Subsequently on March 22, 2016, the Company decided that due to current market conditions, it would not proceed with its proposed offering. As a result, during the year ended December 31, 2016, the Company expensed approximately $1,603 of accumulated costs related to the offering. These costs are included in Selling, general and administrative expenses in the Consolidated Statement of Operations. On August 15, 2016, the Company borrowed $80,000 under its ABL Facility which carries an interest rate of one-month LIBOR + 2.00% and matures on December 10, 2020, which is the maturity date of the ABL Facility. The funds were used to finance the redemption of $80,000 in aggregate principal amount of its outstanding Notes at a redemption price equal to 105.500 percent of such aggregate principal amount. Approximately $84,400 was paid to redeem the Notes, $80,000 aggregate principal amount and a premium of $4,400. Additionally, $1,206 of deferred financing fees related to the Notes were expensed upon redemption. On December 28, 2016, the Company borrowed $25,000 under its ABL Facility which carries an interest rate of one-month LIBOR + 2.00% and matures on December 10, 2020, which is the maturity date of the ABL Facility. The funds were used to finance the redemption of $25,000 in aggregate principal amount of its outstanding Notes at a redemption price equal to 105.500 percent of such aggregate principal amount. Approximately $26,375 was paid to redeem the Notes, $25,000 aggregate principal amount and a premium of $1,375. Additionally, $329 of deferred financing fees related to the Notes were expensed upon redemption. The aggregate principal amount of Notes outstanding was $45,000 and $150,000 at December 31, 2016 and 2015. The weighted-average interest rates including amortized debt issuance fees for the years ended December 31, 2016, 2015 and 2014 was 11.54%, 11.53% and 11.54%, respectively. On February 27, 2017, the Company borrowed $19,000 under its ABL Facility to partially finance the redemption of an additional $25,000 in aggregate principal amount of its Notes. See Note 20. 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 an incremental facility amendment (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 U.S. 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 U.S. 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 ABR <$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 prepayment of existing indebtedness, 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. On January 14, 2016, the Company borrowed $51,000 (the "Repurchase Amount") under the revolving credit facility of the ABL Facility to finance the repurchase and retirement of 62 shares, par value $0.01 per share, of the common stock of Interpool held by the Company, the sole stockholder of Interpool Through a successive chain of dividends, the Repurchase Amount was received pro rata 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. The amount outstanding under the ABL Facility was $1,032,000 and $867,000 at December 31, 2016 and 2015, respectively. The weighted-average interest rates including amortized debt issuance fees for the years ended December 31, 2016, 2015 and 2014 was 3.11%, 3.51% and 3.60%, respectively. At December 31, 2016, $203,028 additional borrowing capacity was available under this facility. 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, 2016 and 2015, $11,989 and $14,519 was outstanding under these agreements. The weighted-average interest rates for the years ended December 31, 2016, 2015 and 2014 were 4.98%, 4.59% and 4.53%, respectively. Capital Lease Obligations At December 31, 2016 and 2015, the total capital lease obligations outstanding associated with leasing equipment were $8,412 and $49,160, respectively. The capital lease obligations mature in varying amounts from 2017 through 2021 and have stated or implicit rates ranging from 5.00% to 5.29%. The weighted-average interest rates for the years ended December 31, 2016, 2015 and 2014 were 4.86%, 4.81% and 4.96%, 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. During 2016, the Company exercised 16 purchase options related to its capital leases, four early purchase options and 12 from maturing capital leases for an aggregate purchase price of $47,107 and recognized a loss on modification and extinguishment of debt and capital lease obligations of $175. 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, 2016 and 2015, assets pledged as collateral are as follows: December 31 2016 2015 ABL Facility $ $ CIMC Loans Capital Lease Obligations ​ ​ ​ ​ ​ ​ ​ ​ Total Pledged as Collateral $ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ The Company's 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, 2016, 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, 2016, the Company was in compliance with all financial covenants as defined in each agreement. Debt Maturities The Company's outstanding debt, including capital lease obligations, as of December 31, 2016 matures as follows: 2017 $ 2018 2019 2020 2021 Thereafter — ​ ​ ​ ​ ​ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Derivatives and Hedging Activit

Derivatives and Hedging Activities	12 Months Ended
	Dec. 31, 2016
Derivatives and Hedging Activities
Derivatives and Hedging Activities	8. Derivatives and Hedging Activities 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 18. 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 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. 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. The agreement terminates on August 9, 2017. On February 4, 2016, the Company executed two interest rate swap agreements with Deutsche Bank. One agreement effectively converts $50,000 of variable rate debt based upon LIBOR into a fixed rate of 1.063% per annum. This agreement will terminate on December 10, 2020 at the same time the Company's ABL Facility terminates. Additionally, the Company executed a $300,000 forward interest rate swap agreement. This agreement begins on August 9, 2017 when the Company's existing $300,000 swap agreement ends. At that time, the Company will effectively convert $300,000 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 $100,000 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 the Company's ABL Facility terminates. At December 31, 2016, one month LIBOR was 0.7717%. For additional disclosures related to derivative instruments, see Notes 2, 11 and 18. The Company held the following interest rate derivatives as of December 31, 2016: Hedged Item Notional Effective Maturity Floating Fixed Leg Fair ABL Facility $ Jan-2013 Aug-2017 1M LIBOR % $ ABL Facility $ Feb-2016 Dec-2020 1M LIBOR % $ ABL Facility $ Feb-2016 Dec-2020 1M LIBOR % $ ABL Facility $ Aug-2017 Dec-2020 1M LIBOR % $ (a) These interest rate derivatives are 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 Weighted-Average Weighted-Average December 31, 2016 $ % 1.72 years December 31, 2015 $ % 1.53 years December 31, 2014 $ % 2.53 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, 2016, 2015 and 2014: Effective Portion Ineffective Portion Derivative Change in Classification Loss Classification (Gain) Loss December 31, 2016 Interest rate derivatives $ Interest expense $ Interest expense $ December 31, 2015 Interest rate derivatives $ ) Interest expense $ Interest expense $ ) December 31, 2014 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. 2016 2015 2014 Net settlements of interest rate derivatives, net of tax of ($676), ($685) and ($720), respectively $ $ $ Amortization of terminated derivatives, net of tax of ($6,425), ($7,920) and ($7,265), 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, 2016, 2015 and 2014: Amount of Deferred Loss Unamortized Amount of Original Deferred Effective Maturity Fixed Termination Hedged 2016 2015 2014 (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 $171 (which is net of tax of $111) and amortization of deferred losses on the Company's terminated derivatives of $7,008 (which is net of tax of $4,532).

Commitments and Contingencies

Commitments and Contingencies	12 Months Ended
	Dec. 31, 2016
Commitments and Contingencies
Commitments and Contingencies	9. Commitments and Contingencies Chassis Purchase Commitments The Company's chassis purchase commitments are related to commitments to refurbish chassis, remanufacture chassis and to exercise an early purchase option related to a capital lease. At December 31, 2016, the Company had non-cancellable commitments totaling approximately $18,950 all of which was committed for 2017. In addition, the Company entered into purchase orders for the refurbishment of chassis which allows for cancellation with an agreed upon notice period. If the Company were to cancel, it would be required to fulfill refurbishments committed aggregating approximately $11,588 which is included in the 2017 commitment number above. The above represents the non-cancellable portion of contracts that aggregate $92,784 over a four year period. 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 as well as the mix of tires to be purchased over the commitment period. At December 31, 2016, the tire purchase commitments are estimated to be $23,203 with $6,613 committed for 2017 and $5,530 committed for 2018, 2019 and 2020, respectively. See Note 15. Lease Commitments The Company is party to various operating leases relating to office facilities and certain other equipment with various expiration dates through 2026. All leasing arrangements contain normal leasing terms without unusual purchase options or escalation clauses. Rental expense under operating leases was $12,877, $14,417 and $8,541 for the years ended December 31, 2016, 2015 and 2014, respectively. As of December 31, 2016, the aggregate minimum rental commitment under operating leases having initial or remaining non-cancelable lease terms in excess of one year was as follows: 2017 $ 2018 2019 2020 2021 Thereafter ​ ​ ​ ​ ​ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ The Company is party to various capital leases and is obligated to make payments related to its long-term borrowings. See Note 7. Stock Buyback Program On April 13, 2016, Interpool instituted the Stock Buyback Program whereby employees who hold vested shares of SCT Chassis, an indirect parent of the Company, pursuant to Management Shareholder Agreements executed prior to January 1, 2016, will be eligible to elect, on an annual basis, to sell up to 25% of such shares to Interpool. Under the Stock Buyback Program, participants will elect annually whether to participate in the Stock Buyback Program and the number of eligible shares they wish to sell. Elections will generally be made on or about April 30 of each year, and the Stock Buyback Program will expire in 2019 after all completed share repurchase elections are fulfilled for that year. The fair market value price, at which SCT Chassis shares will be repurchased, will be determined each year by the Board of Directors of SCT Chassis. At December 31, 2016, the estimated repurchase amount based on the current such fair market value price of $10.50 per share is $3,035. See Note 12. 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, 2016 and 2015. At December 31, 2016, 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 An agreement reached in March 2015 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, the Company has received invoices and payment demands from certain host locations. The Company is not party to the above agreement and is currently disputing such fees because, among other reasons, it believes 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 the Company believes that any amounts it may be required to pay are not probable, it is not currently accruing such expenses in its financial statements. As of December 31, 2016, the Company has received invoices aggregating approximately $5,550. 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, 2016
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 (loss) was as follows: Year ended December 31 2016 2015 2014 Domestic $ $ $ ) Foreign ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total $ $ $ ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ The provision (benefit) for income taxes is comprised of the following: Year ended December 31 2016 2015 2014 Current taxes: Federal $ — $ $ ) State ) Foreign ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total current taxes ) ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Deferred taxes: Federal ) State ) Foreign ) ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total deferred taxes ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total provision (benefit) for income taxes $ $ $ ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ The decrease in the tax provision in 2016 compared to 2015 is due to a decrease in the Company's earnings. The increase in the tax provision in 2015 compared to 2014 was due to the increase in the Company's earnings. A reconciliation of the U.S. statutory tax rate to the effective tax rate for continuing operations follows: Year ended December 31 2016 2015 2014 U.S. statutory rate % % % State taxes Foreign earnings taxed at other than 35% ) ) Research and development tax credit ) — — Changes in uncertain tax positions — ) Valuation allowances — — Permanent tax items ) ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 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 2016, the effective tax rate decreased due to a reduction in the state effective tax rate and the benefit from a research and development tax credit. In 2015, the effective tax rate decreased due to the significant increase in domestic pre-tax income relative to worldwide earnings. Significant components of deferred tax assets and liabilities were as follows: December 31 2016 2015 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, 2016, the Company has incurred passive activity loss ("PALs") and net operating loss ("NOLs") carryforwards of approximately $228,931 and $546,804, respectively, for U.S. federal and state income tax purposes. In addition, through December 31, 2016, the Company claimed $242 of research and development ("R&D") tax credits pertaining to Project Helix for U.S. federal tax purposes. The PALs can be carried forward indefinitely to offset income generated from future leasing activities. The remaining $546,804 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. The R&D tax credit carryforward will not begin to expire until 2035. After considering the future reversal of its existing taxable temporary differences coupled with future earnings and tax planning strategies, the Company does not believe a valuation allowance is required for federal taxes with respect to these PALs, NOLs or R&D tax credits. However, as of December 31, 2016 and 2015, the Company has a valuation allowance recorded of $21 and $199, 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, 2014 $ Change during 2014 — ​ ​ ​ ​ ​ Balance at December 31, 2015 Change during 2016 ​ ​ ​ ​ ​ Balance at December 31, 2016 $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ All of the unrecognized tax benefits, 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, 2016, 2015 and 2014, the Company recognized approximately $17, $16 and $94, 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 2014 federal income tax return is presently under examination. The Company's 2015 and 2016 federal income tax returns and 2013 to 2016 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, 2016, 2015 and 2014 the cumulative undistributed foreign earnings were approximately $6,106, $4,306 and $2,610, respectively. Any U.S. tax liability on possible future distribution of these undistributed foreign earnings, net of foreign tax credits, is not a material amount. The Company reinvests its earnings in Mexico into its local operations and does not have a domestic need to repatriate 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, 2016
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 Net Derivative Foreign Total Balance, December 31, 2013 $ $ ) $ ) $ ) Current-period other comprehensive (loss) income ) ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Balance, December 31, 2014 $ $ ) $ ) $ ) Current-period other comprehensive (loss) income ) ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Balance, December 31, 2015 $ $ ) $ ) $ ) Current-period other comprehensive (loss) income — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Balance, December 31, 2016 $ $ ) $ ) $ ) 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 2016 2015 2014 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 Payments

Share-Based Payments	12 Months Ended
	Dec. 31, 2016
Share-Based Payments
Share-Based Payments	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. 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. On June 1, 2016, 35,682 restricted shares of SCT Chassis were granted to a key employee at a fair value of $11.21 per share for a total fair value of $400. These shares vest in equal increments on January 1, 2017, 2018, 2019 and 2020. Additionally on June 1, 2016, the Company advised the employee that he would be permitted to participate in the Stock Buyback Program (as defined below) instituted by the Company in April 2016. See description of program following. A summary of the restricted shares of SCT Chassis under the Company's share-based compensation plan is as follows. All amounts are in thousands except share and per share amounts. Non-vested Shares Shares Weighted- Fair Value of Non-vested at December 31, 2013 $ $ Granted — — — Forfeited ) ) Vested ) ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Non-vested at December 31, 2014 $ $ Granted Forfeited — — — Vested ) ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Non-vested at December 31, 2015 $ $ Granted Forfeited — — — Vested ) ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Non-vested at December 31, 2016 $ $ Stock Buyback Program On April 13, 2016, Interpool instituted the Stock Buyback Program. Under the Stock Buyback Program, participants will elect annually whether to participate in the Stock Buyback Program and the number of eligible shares they wish to sell. Elections will generally be made on or about April 30 of each year, and the Stock Buyback Program will expire in 2019 after all completed share repurchase elections are fulfilled for that year. The fair market value price, at which SCT Chassis shares will be repurchased, will be determined each year by the Board of Directors of SCT Chassis. For the 2016 repurchase, Interpool offered a purchase price of $11.21 per share, and such offer expired on May 13, 2016. The Company accounted for the repurchase feature which provides for a cash settlement option for eligible shares in accordance with the Compensation—Stock Compensation Topic of the FASB ASC. Provisions of the Program require certain equity awards to be accounted for under liability accounting; hence such awards have been reclassified and will be re-measured at each reporting date. The Company recognized $312 of additional compensation expense with regard to these awards due to the Program modification and reclassified $641 from Member's interest to a share repurchase liability account. At inception the Share repurchase liability was $953 and is recorded in Accrued expenses and other liabilities in the Consolidated Balance Sheet. Additionally, the guidance in Accounting Series Release No. 268 ("ASR 268") requires equity awards, which are now redeemable under the Program to be classified as temporary equity on the balance sheet and re-measured to the estimated redemption value at each reporting period. The Company recognized $744 of additional compensation expense due to the Program modification and reclassified $1,859 from Member's interest to Redeemable indirect parent shares held by management associated with such awards. Additionally, $775 was recorded to Redeemable indirect parent shares held by management with the offset to Member's interest to reflect the estimated redemption value for these shares. At inception the balance in this account was $3,378. On May 13, 2016, the Company repurchased 94,527 shares for $1,060 in accordance with the Stock Buyback Program discussed above. Accordingly, the Company reduced Redeemable indirect parent shares held by management by $845 on the Consolidated Balance Sheet and also reduced the Share repurchase liability by $215. At December 31, 2016, the Share repurchase liability was $959 and is recorded in Accrued expenses and other liabilities in the Consolidated Balance Sheet. Additionally, the balance in Redeemable indirect parent shares held by management was $2,076 and is presented as temporary equity in the Consolidated Balance Sheet. Both accounts were revalued to fair value and estimated redemption value, respectively, at December 31, 2016. Share Repurchases In addition to the share repurchase discussed above under the Stock Buyback Program, during the year ended December 31, 2016 Interpool purchased 60,834 shares of SCT Chassis common stock from employees to meet their minimum statutory withholding requirements upon share vesting and to repurchase shares from employees upon termination. The cost of these shares was $609 of which $306 is included in Member's interest and $303 reduced the balance of Redeemable indirect parent shares held by management on 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. Restricted Stock Unit Plan—SCT Chassis, Inc On October 25, 2016, the SCT Chassis board of directors authorized and approved the terms of the SCT Chassis Restricted Stock Unit Plan dated as of October 1, 2016 (the "RSU Plan"), the form of Restricted Stock Unit Award and Management Shareholder Agreement (the "RSU MSA") and the list of participants in the Plan that would receive RSU MSAs in 2016. The RSU Plan provides for annual grants of Restricted Stock Units ("RSUs") to participating employees upon the Company's achievement of targeted levels of Adjusted Earnings before Tax ("Adjusted EBT"). Adjusted EBT targets are determined each year during the budget process. The number of shares to be granted is based upon levels of Adjusted EBT attained, the grade level of each participant and the fair value of SCT Chassis Stock at the grant date. On October 26, 2016, in accordance with the RSU Plan and upon determination of the SCT Chassis Board of Directors, a total of 168,577 RSUs were granted to certain members of Interpool management at a fair value of $8.36 per RSU, or a total fair value of $1,409, for achievement of the Adjusted EBT target for performance year 2015. The fair market value of the RSUs reflects a 22% lack of marketability discount as the RSU Plan provides no provision for participants to sell their shares to the Company. These RSUs will vest in one-third increments on January 1, 2017, 2018 and 2019, respectively with the underlying common stock being delivered to employees no later than March 15 of the year following the year in which the RSUs vest. A summary of the restricted stock units of SCT Chassis under the Company's new Restricted Stock Unit Plan is as follows. All amounts are in thousands except share and per share amounts. Non-vested RSUs RSUs Weighted- Fair Value of Non-vested at December 31, 2015 — $ — $ — Granted Forfeited — — — Vested — — — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Non-vested at December 31, 2016 $ $ During the years ended December 31, 2016, 2015 and 2014, the Company recorded share-based compensation expense of $1,821, $625 and $810, respectively. The compensation expense for 2016 includes expense related to both the Restricted Stock Plan and the new RSU Plan. 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 $1,479 at December 31, 2016, which is expected to be recognized over the remaining weighted-average vesting period of 2.0 years. As of December 31, 2016 the total number of shares authorized for grant under the Company's stock incentive program was 2,470,012 with 1,960,993 shares available for future grant.

Segment and Geographic Informat

Segment and Geographic Information	12 Months Ended
	Dec. 31, 2016
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 I 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 share-based compensation and other non-routine or non-cash items as determined by management plus principal 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, 2016, 2015 and 2014. 2016 Marine Domestic 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 2015 Marine Domestic 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 Domestic 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 table shows the reconciliations of the Company's net income (loss), the most directly comparable U.S. GAAP measure, to Adjusted EBITDA, the Company's total measure of profit. Year ended December 31 2016 2015 2014 Net income (loss) $ $ $ ) Provision (benefit) for income taxes ) 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 ) ) ) Restructuring expense — — Principal collections on direct finance leases, net of interest earned Share-based compensation Non-recurring professional fees primarily associated with termination of bond offering — — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Adjusted EBITDA $ $ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 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, 2016
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, 2016, 2015 and 2014, the Company contributed approximately $2,212, $1,993 and $1,961, 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, 2016
Related Party Transactions
Related Party Transactions	15. Related Party Transactions 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, 2016, 2015 and 2014, the Company reflected income of $89, $124 and $107, respectively, associated with such allocations. 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. There was no affiliate receivable balance at December 31, 2016. At December 31, 2015, the Company had a net receivable from affiliate of $584 which is included in Other assets on the Consolidated Balance Sheet. 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, 2016, 2015 and 2014, the Company recorded revenue from FEC of $2,359, $2,242 and $1,766, respectively. As of December 31, 2016, the Company's Vice President of TRAC Interstar, Rodney Goderwis, owned a majority equity position in Core Fleet Retreading ("Core"), a company from which the Company purchases tires. In addition, Mr. Goderwis owned a minority equity position in each of INA Towing Network ("INA") and Caliber Information Systems ("Caliber") from which the Company purchases towing services and maintenance and repair cost control services, respectively. Mr. Goderwis was also a director of Core and INA. Since Mr. Goderwis joined TRAC Interstar in March, 2016 in connection with the Interstar Acquisition, the Company has incurred expenses in the amount of $4,022, $226 and $1,344 from Core and affiliates, INA and Caliber, respectively. In connection with its purchase of tires from Core, the Company is committed to purchasing 45,000 tires annually for a period of five years beginning in 2016. At December 31, 2016, the tire purchase commitments are estimated to be $23,203 with $6,613 committed for 2017 and $5,530 committed for 2018, 2019 and 2020, respectively. See Note 9.

Restructuring Charge

Restructuring Charge	12 Months Ended
	Dec. 31, 2016
Restructuring Charge
Restructuring Charge	16. Restructuring Charge During 2016, in response to changing market conditions, the Company initiated a reduction in certain staffing levels. In accordance with the Compensation—Non-Retirement Post-Employment Benefits Topic of the FASB ASC, the Company recorded a restructuring charge of $1,806 related to employee severance and termination benefits. This charge is recorded in Restructuring expense in the Consolidated Statements of Operations. At December 31, 2016, the balance in Accrued restructuring is $432 which is included in Accrued expenses and other liabilities on the Consolidated Balance Sheet. The decrease in the liability balance from $1,806 to $432 at December 31, 2016 is due primarily to payments made.

Grow New Jersey Tax Credit

Grow New Jersey Tax Credit	12 Months Ended
	Dec. 31, 2016
Grow New Jersey Tax Credit
Grow New Jersey Tax Credit	17. Grow New Jersey Tax Credit On June 10, 2014, the Company was approved to receive a Grow NJ Tax Credit in the amount not to exceed $9,800 subject to the terms and conditions of the Grow New Jersey Assistance Act, P.L. 2011, c. 149, as amended; the Grow NJ Program regulations, N.J.A.C. 19:31-18.1 et seq. subject to final amendments to the regulations; and the terms and conditions set forth in the Approval Letter and in the Incentive Agreement. During 2015, the Company satisfied all the terms and conditions necessary to obtain the Grow NJ Tax Credit and in January 2016, the New Jersey Division of Taxation approved and issued the overall tax credit certificate for $8,800. Since the grant is payable in yearly increments over a ten year period commencing in 2016, the year the first tax credit certificate is issued, the Company received credits amounting to $880 during the first quarter of 2016. It is anticipated that upon continued compliance with the terms and conditions of the grant, the Company will receive an annual grant of $880 each year from 2017 to 2025. Additionally, as provided for in the statutes governing the grant, the Company sold the tax credits it received to a third party. The third party agreed to purchase, over the ten year period, all credits not used by the Company at 92.5% of the face value of the credits. On February 25, 2016, the third party purchased tax credits totaling $880 and paid the Company $814. There was also a $4 transfer fee related to this transaction. Based on the above transaction, the Company recognized Grant income of $538 for the year ended December 31, 2016. This is recorded in Selling, general and administrative expenses in the Consolidated Statements of Operations. At December 31, 2016, the amount in deferred income was $272 which is recorded in Accrued expenses and other liabilities in the Consolidated Balance Sheets.

Fair Value of Financial Instrum

Fair Value of Financial Instruments	12 Months Ended
	Dec. 31, 2016
Fair Value of Financial Instruments
Fair Value of Financial Instruments	18. 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 Fair Value Measurement as of 2016 Level 1 Level 2 Level 3 Assets: Cash and cash equivalents $ $ $ — $ — Derivative instruments — — Liabilities: Share Repurchase Liability — — Redeemable indirect parent shares held by management — — Fair Value Fair Value Measurement as 2015 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. 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. Share repurchase liability and Redeemable indirect parent shares held by management: The Share repurchase liability account and the Redeemable indirect parent shares held by management were recorded at fair value and estimated redemption value on the Company's Balance Sheet. The fair value and estimated redemption value of these shares at December 31, 2016 was determined to be $10.50 per share. The value per share was determined by a valuation by the Board of Directors of SCT Chassis. 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. Repurchase Redeemable Beginning Balance January 1, 2016 $ — $ — Instituted Stock Buyback Program—Modification Share Repurchases ) ) Revaluation recorded to Paid in capital — ) Revaluation recorded to Stock compensation expense ) — Additions for Shares continuing to vest — ​ ​ ​ ​ ​ ​ ​ ​ Ending Balance December 31, 2016 $ $ 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 $596,370 as of December 31, 2016 and $584,401 as of December 31, 2015. Variable interest rate debt at December 31, 2016 and December 31, 2015 is net of $450,000 and $300,000 of variable rate debt which has been effectively converted to fixed rate debt through the use of interest rate swaps. Accordingly, the Company's variable rate debt approximates market value for similar instruments at the respective dates. The Company had fixed rate debt of $501,031 as of December 31, 2016 and $496,278 as of December 31, 2015. 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 5.00% at December 31, 2016 and 4.90% at December 31, 2015. 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, 2016 December 31, 2015 Carrying Fair Value Carrying Fair Value Derivative instrument Total debt ) ) ) )

Guarantor Financial Information

Guarantor Financial Information	12 Months Ended
	Dec. 31, 2016
Guarantor Financial Information
Guarantor Financial Information	19. 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 aggregate principal amount of the Original Notes. Concurrent with the offering of the Original 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 Original Notes were validly tendered for exchange, representing 100% of the principal amount of the outstanding Original 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. Additionally, on August 15, 2016 and December 28, 2016, the Company redeemed $80,000 and $25,000 aggregate principal amount of the Notes, respectively. As of December 31, 2016, $45,000 aggregate principal amount of the Notes remain outstanding. Additionally, on February 27, 2017, the Company redeemed $25,000 aggregate principal amount of the Notes. See Notes 7 and 20 to the Consolidated Financial Statements. TRAC Intermodal LLC Issuer Guarantor Non-Guarantor Eliminations Consolidated Assets Cash and cash equivalents $ — $ $ $ — $ Accounts receivable, net — — Net investment in direct finance leases — — ) Leasing equipment, net of accumulated depreciation — — Goodwill — — — Intercompany interest receivable — — ) — Intercompany note receivable — — ) — Investment in subsidiary — ) Other assets — — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total assets $ $ $ $ ) $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Liabilities and member's interest Accounts payable, accrued expenses and other liabilities $ $ $ $ — $ Intercompany note payable — — ) — Intercompany interest payable — — ) — Intercompany lease payable — — ) — Deferred income taxes, net — — Debt and capital lease obligations less debt issuance costs — — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total liabilities ) Redeemable indirect parent shares held by management — — — Total member's interest ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total liabilities and member's interest $ $ $ $ ) $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ TRAC Intermodal LLC Issuer Guarantor Non-Guarantor Eliminations Consolidated Total revenue $ — $ $ $ ) $ Direct operating expenses — — Selling, general and administrative expenses — — Depreciation expense — — Provision for doubtful accounts — — — Impairment of leasing equipment — — — Restructuring expense — — — 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 ($3,061) — — — Derivative loss reclassified into earnings, net of tax of ($6,425) — — — Foreign currency translation loss, net of tax of ($128) — — — — — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total other comprehensive income — — — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total comprehensive income $ $ $ $ ) $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ TRAC Intermodal LLC Issuer Guarantor Non-Guarantor 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 — — ) Business acquisition — ) — — ) Sale of Interpool shares — — ) — Investment in direct finance leases — ) — — ) Purchase of leasing equipment — ) — — ) Purchase of fixed assets — ) — — ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net cash used in investing activities ) — ) ) Financing activities: Proceeds from long-term debt — ) Repayment of long-term debt ) ) — ) Cash paid for debt issuance fees — ) — — ) Dividend paid ) — — ) Repurchase of Interpool shares — ) — — Premium paid for redemption of notes — ) — — ) Business acquisition contingent payment — ) — — ) Repurchase of shares from employees — ) — — ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net cash used in financing activities ) ) — ) Effect of changes in exchange rates on cash and cash equivalents — ) — — ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net increase in cash and cash equivalents — — Cash and cash equivalents, beginning of period — — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Cash and cash equivalents, end of period — $ $ $ — $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ TRAC Intermodal LLC Issuer Guarantor Non-Guarantor 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 and 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 Issuer Guarantor Non-Guarantor 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 — ) — — ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total other comprehensive income — — — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total comprehensive income $ $ $ $ ) $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ TRAC Intermodal LLC Issuer Guarantor Non-Guarantor 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 assets — ) — — ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 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 Issuer Guarantor Non-Guarantor 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 Issuer Guarantor Non-Guarantor 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 assets — ) — — ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 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 $ — $ $ $ — $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Subsequent Events

Subsequent Events	12 Months Ended
	Dec. 31, 2016
Subsequent Events
Subsequent Events	20. Subsequent Events Chassis Purchase Option Exercised On January 3, 2017, the Company exercised a purchase option for a maturing capital lease for an aggregate purchase price of $5,937. Redemption of Notes On January 27, 2017, the Company and TRAC Intermodal Corp. (collectively, the "Issuers") delivered to the holders of the Notes a notice of redemption notifying the holders that the Issuers have elected to redeem $25,000 in aggregate principal amount of the outstanding Notes. The Notes were called for redemption on February 27, 2017, at a redemption price equal to 105.500 percent of the principal amount. On February 27, 2017, the Company borrowed $19,000 (the "Borrowing") under the ABL Facility to partially finance the redemption. This amount currently carries an interest rate of one-month USD LIBOR + 2.25% and matures on December 10, 2020, which is the maturity date of the ABL Facility. Approximately $26,375 was paid to redeem the Notes, $25,000 aggregate principal amount and a premium of $1,375. Additionally, approximately $308 of deferred financing fees related to these Notes were expensed upon redemption. Purchase of assets On February 1, 2017, the Company agreed to purchase 1,028 chassis from one of its shipping line customers for an aggregate purchase price of $4,112. SoftBank Acquisition of Fortress On February 14, 2017, Fortress and SoftBank Group Corp., a corporation organized under the laws of Japan ("SoftBank"), issued a joint press release announcing that they had entered into definitive agreements pursuant to which SoftBank will acquire Fortress. The transaction is subject to approval by Fortress shareholders, certain regulatory approvals and other customary closing conditions, and is expected to close in the second half of 2017.

SCHEDULE II Valuation and Quali

SCHEDULE II Valuation and Qualifying Accounts	12 Months Ended
	Dec. 31, 2016
SCHEDULE II Valuation and Qualifying Accounts
SCHEDULE II Valuation and Qualifying Accounts	SCHEDULE II Allowance for Doubtful Accounts Beginning Additions (Write-offs) Other Ending For the year ended December 31, 2016 $ $ $ ) $ $ For the year ended December 31, 2015 $ $ ) $ ) $ ) $ For the year ended December 31, 2014 $ $ $ ) $ ) $

Summary of Significant Accoun30

Summary of Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2016
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, 2016, 2015 and 2014, the Company earned approximately 38%, 41% and 45% of revenues from its top ten customers, respectively. The Company's largest customer accounted for approximately 8%, 7% and 6% of total revenues in 2016, 2015 and 2014, respectively. These revenues are included in the Domestic Market segment for 2016 and 2015 and the Marine Market segment for 2014. Based on balances due at December 31, 2016, 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 $6,760. 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 8% 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, 2016. The Company also has a concentration of credit within its direct finance lease portfolio. The Company's top three customers account for $10,098, $12,197 and $14,592 of the outstanding principal at December 31, 2016, 2015 and 2014, respectively which represents approximately 89%, 95% and 90% 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. 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 $30,771, $41,211 and $40,214 for the years ended December 31, 2016, 2015 and 2014, 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 $22,115, $12,701 and $2,712 for the years ended December 31, 2016, 2015 and 2014, 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 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.
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. Additionally in February 2016, the Company entered into three additional swap transactions, two with Deutsche Bank AG and one with PNC Bank. See 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, 2016, 2015 and 2014, the Company recorded net gains of $933, $1,327 and $928, 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 disregarded for U.S. income tax purposes. However, its 100% owned subsidiary, Interpool, Inc. and its U.S. consolidated subsidiaries, are 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 (benefit) 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 2016 In August 2016, the FASB issued authoritative guidance on accounting for Statement of Cash Flows (Topic 230) Classification of Certain Cash Receipts and Cash Payments : ("ASU 2016-15"). The standard provides guidance on eight specific cash flow items and their classifications in the statement of cash flows thereby reducing the current and potential future diversity in practice. The amendments in this update are effective for fiscal years beginning after December 15, 2017 and interim periods within those fiscal years. Early adoption is permitted, provided that all of the amendments are adopted in the same period. The adoption of this standard in 2016 did not have any 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. We established a team comprised of people that are familiar with the contracts we have with our customers within each of our segments. We are in the process of performing a preliminary analysis with regard to such contracts to evaluate the potential effect of the new standard and related disclosures, as well as which transition method we will elect. We will continue to review the terms of such contracts to determine if material differences exist under the new standard versus our existing revenue recognition policy, and will update our disclosure as material changes, if any, are identified. 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. In March 2016, the FASB issued authoritative guidance on accounting for Compensation—Stock Compensation (Topic 718) Improvements to Employee Share-Based Payment Accounting: ("ASU 2016-09"). The amendments in this update affect all entities that issue share-based payment awards to their employees. The new guidance requires excess tax benefits and tax deficiencies to be recorded in the income statement when the awards vest or are settled. In addition, cash flows related to excess tax benefits will no longer be separately classified as a financing activity apart from other income tax cash flows. The standard also allows entities to repurchase more of an employee's shares for tax withholding purposes without triggering liability accounting, clarifies that all cash payments made on an employee's behalf for withheld shares should be presented as a financing activity on the cash flow statement, and provides an accounting policy election to account for forfeitures as they occur. The amendments in this update are effective for annual periods beginning after December 15, 2016, and interim periods within those annual periods. Early adoption is permitted. The adoption of this standard in 2017 will not have a significant impact on the Company's Consolidated Financial Statements. No other new accounting pronouncements issued or effective during 2016 had or are expected to have a material impact on the Company's Consolidated Financial Statements.

Summary of Significant Accoun31

Summary of Significant Accounting Policies (Tables)	12 Months Ended
	Dec. 31, 2016
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, 2016
Leasing Activity
Schedule of estimated future minimum lease revenue	2017 $ 2018 2019 2020 2021 Thereafter ​ ​ ​ ​ ​ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
Schedule of receivables under direct finance leases	Total Lease Unearned Net Lease 2017 $ $ $ 2018 2019 2020 2021 Thereafter — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ $ $ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Leasing Equipment (Tables)

Leasing Equipment (Tables)	12 Months Ended
	Dec. 31, 2016
Leasing Equipment
Summary of leasing equipment	December 31 2016 2015 Total leasing equipment $ $ Less accumulated depreciation ) ) ​ ​ ​ ​ ​ ​ ​ ​ Leasing equipment, net of accumulated depreciation $ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
Summary of the impairment charges recorded by category	December 31 2016 2015 2014 Shrinkage $ $ $ Corroded/Unusable Impairment ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total impairment of leasing equipment $ $ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Borrowings (Tables)

Borrowings (Tables)	12 Months Ended
	Dec. 31, 2016
Borrowings
Summary of the Company's borrowings	December 31 2016 2015 Debt Debt Debt Debt 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 ABR <$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 2016 2015 ABL Facility $ $ CIMC Loans Capital Lease Obligations ​ ​ ​ ​ ​ ​ ​ ​ Total Pledged as Collateral $ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
Schedule of maturities of outstanding debt, including capital lease obligations	2017 $ 2018 2019 2020 2021 Thereafter — ​ ​ ​ ​ ​ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Derivatives and Hedging Activ35

Derivatives and Hedging Activities (Tables)	12 Months Ended
	Dec. 31, 2016
Derivatives and Hedging Activities
Schedule of interest rate derivatives	Hedged Item Notional Effective Maturity Floating Fixed Leg Fair ABL Facility $ Jan-2013 Aug-2017 1M LIBOR % $ ABL Facility $ Feb-2016 Dec-2020 1M LIBOR % $ ABL Facility $ Feb-2016 Dec-2020 1M LIBOR % $ ABL Facility $ Aug-2017 Dec-2020 1M LIBOR % $ (a) These interest rate derivatives are 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 Weighted-Average Weighted-Average December 31, 2016 $ % 1.72 years December 31, 2015 $ % 1.53 years December 31, 2014 $ % 2.53 years
Schedule of net of tax effect of the Company's cash flow hedge derivative instruments	Effective Portion Ineffective Portion Derivative Change in Classification Loss Classification (Gain) Loss December 31, 2016 Interest rate derivatives $ Interest expense $ Interest expense $ December 31, 2015 Interest rate derivatives $ ) Interest expense $ Interest expense $ ) December 31, 2014 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. 2016 2015 2014 Net settlements of interest rate derivatives, net of tax of ($676), ($685) and ($720), respectively $ $ $ Amortization of terminated derivatives, net of tax of ($6,425), ($7,920) and ($7,265), respectively ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ $ $ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (c) Amounts impacting income not related to OCI reclassification.
Schedule of 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 terminated derivatives, net of tax	2016 2015 2014 Net settlements of interest rate derivatives, net of tax of ($676), ($685) and ($720), respectively $ $ $ Amortization of terminated derivatives, net of tax of ($6,425), ($7,920) and ($7,265), respectively ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ $ $ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (c) Amounts impacting income not related to OCI reclassification.
Summary of deferred (gains) and losses for the terminated interest rate derivatives and the related amortization into interest expense	Amount of Deferred Loss Unamortized Amount of Original Deferred Effective Maturity Fixed Termination Hedged 2016 2015 2014 (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, 2016
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	2017 $ 2018 2019 2020 2021 Thereafter ​ ​ ​ ​ ​ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Dec. 31, 2016
Income Taxes
Schedule of domestic and foreign pre-tax income (loss)	Year ended December 31 2016 2015 2014 Domestic $ $ $ ) Foreign ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total $ $ $ ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
Schedule of provision (benefit) for income taxes	Year ended December 31 2016 2015 2014 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 2016 2015 2014 U.S. statutory rate % % % State taxes Foreign earnings taxed at other than 35% ) ) Research and development tax credit ) — — Changes in uncertain tax positions — ) Valuation allowances — — Permanent tax items ) ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Effective tax rate % % % ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
Schedule of significant components of deferred tax assets and liabilities	December 31 2016 2015 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, 2014 $ Change during 2014 — ​ ​ ​ ​ ​ Balance at December 31, 2015 Change during 2016 ​ ​ ​ ​ ​ Balance at December 31, 2016 $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Accumulated Other Comprehensi38

Accumulated Other Comprehensive Loss (Tables)	12 Months Ended
	Dec. 31, 2016
Accumulated Other Comprehensive Loss
Schedule of components of Accumulated comprehensive (loss), net of tax	Unrealized Net Derivative Foreign Total Balance, December 31, 2013 $ $ ) $ ) $ ) Current-period other comprehensive (loss) income ) ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Balance, December 31, 2014 $ $ ) $ ) $ ) Current-period other comprehensive (loss) income ) ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Balance, December 31, 2015 $ $ ) $ ) $ ) Current-period other comprehensive (loss) income — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Balance, December 31, 2016 $ $ ) $ ) $ )
Schedule of effects of reclassifications out of AOCI and into the Consolidated Statement of Income	Year ended December 31, Income Statement Line Item 2016 2015 2014 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 Payments (Tables)

Share-Based Payments (Tables) - SCT Chassis, Inc.	12 Months Ended
	Dec. 31, 2016
Share-Based Payments
Summary of non-vested restricted shares of SCT Chassis, Inc.	Non-vested Shares Shares Weighted- Fair Value of Non-vested at December 31, 2013 $ $ Granted — — — Forfeited ) ) Vested ) ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Non-vested at December 31, 2014 $ $ Granted Forfeited — — — Vested ) ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Non-vested at December 31, 2015 $ $ Granted Forfeited — — — Vested ) ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Non-vested at December 31, 2016 $ $
Summary of restricted stock units of SCT Chassis	Non-vested RSUs RSUs Weighted- Fair Value of Non-vested at December 31, 2015 — $ — $ — Granted Forfeited — — — Vested — — — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Non-vested at December 31, 2016 $ $

Segment and Geographic Inform40

Segment and Geographic Information (Tables)	12 Months Ended
	Dec. 31, 2016
Segment and Geographic Information
Schedule of segment information	2016 Marine Domestic 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 2015 Marine Domestic 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 Domestic 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 net income (loss) to Adjusted EBITDA	Year ended December 31 2016 2015 2014 Net income (loss) $ $ $ ) Provision (benefit) for income taxes ) 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 ) ) ) Restructuring expense — — Principal collections on direct finance leases, net of interest earned Share-based compensation Non-recurring professional fees primarily associated with termination of bond offering — — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Adjusted EBITDA $ $ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Fair Value of Financial Instr41

Fair Value of Financial Instruments (Tables)	12 Months Ended
	Dec. 31, 2016
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 Fair Value Measurement as of 2016 Level 1 Level 2 Level 3 Assets: Cash and cash equivalents $ $ $ — $ — Derivative instruments — — Liabilities: Share Repurchase Liability — — Redeemable indirect parent shares held by management — — Fair Value Fair Value Measurement as 2015 Level 1 Level 2 Level 3 Assets: Cash and cash equivalents $ $ $ — $ — Derivative instruments — —
Schedule of fair value of the Company's share repurchase liability and redeemable indirect parent shares held by management	Repurchase Redeemable Beginning Balance January 1, 2016 $ — $ — Instituted Stock Buyback Program—Modification Share Repurchases ) ) Revaluation recorded to Paid in capital — ) Revaluation recorded to Stock compensation expense ) — Additions for Shares continuing to vest — ​ ​ ​ ​ ​ ​ ​ ​ Ending Balance December 31, 2016 $ $
Schedule of carrying amounts and fair values of financial instruments	December 31, 2016 December 31, 2015 Carrying Fair Value Carrying Fair Value Derivative instrument Total debt ) ) ) )

Guarantor Financial Informati42

Guarantor Financial Information (Tables)	12 Months Ended
	Dec. 31, 2016
Guarantor Financial Information
Schedule of condensed consolidating balance sheet	Condensed Consolidating Balance Sheet Issuer Guarantor Non-Guarantor Eliminations Consolidated Assets Cash and cash equivalents $ — $ $ $ — $ Accounts receivable, net — — Net investment in direct finance leases — — ) Leasing equipment, net of accumulated depreciation — — Goodwill — — — Intercompany interest receivable — — ) — Intercompany note receivable — — ) — Investment in subsidiary — ) Other assets — — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total assets $ $ $ $ ) $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Liabilities and member's interest Accounts payable, accrued expenses and other liabilities $ $ $ $ — $ Intercompany note payable — — ) — Intercompany interest payable — — ) — Intercompany lease payable — — ) — Deferred income taxes, net — — Debt and capital lease obligations less debt issuance costs — — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total liabilities ) Redeemable indirect parent shares held by management — — — Total member's interest ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total liabilities and member's interest $ $ $ $ ) $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Condensed Consolidating Balance Sheet Issuer Guarantor Non-Guarantor 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 and 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 $ $ $ $ ) $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
Schedule of condensed consolidating statements of operations and comprehensive income	Condensed Consolidating Statements of Operations Issuer Guarantor Non-Guarantor Eliminations Consolidated Total revenue $ — $ $ $ ) $ Direct operating expenses — — Selling, general and administrative expenses — — Depreciation expense — — Provision for doubtful accounts — — — Impairment of leasing equipment — — — Restructuring expense — — — 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 ($3,061) — — — Derivative loss reclassified into earnings, net of tax of ($6,425) — — — Foreign currency translation loss, net of tax of ($128) — — — — — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total other comprehensive income — — — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total comprehensive income $ $ $ $ ) $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Condensed Consolidating Statements of Operations Issuer Guarantor Non-Guarantor 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 — ) — — ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total other comprehensive income — — — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total comprehensive income $ $ $ $ ) $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Condensed Consolidating Statements of Operations Issuer Guarantor Non-Guarantor 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 $ ) $ $ $ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
Schedule of condensed consolidating statement of cash flows	Condensed Consolidating Statement of Cash Flows Issuer Guarantor Non-Guarantor 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 — — ) Business acquisition — ) — — ) Sale of Interpool shares — — ) — Investment in direct finance leases — ) — — ) Purchase of leasing equipment — ) — — ) Purchase of fixed assets — ) — — ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net cash used in investing activities ) — ) ) Financing activities: Proceeds from long-term debt — ) Repayment of long-term debt ) ) — ) Cash paid for debt issuance fees — ) — — ) Dividend paid ) — — ) Repurchase of Interpool shares — ) — — Premium paid for redemption of notes — ) — — ) Business acquisition contingent payment — ) — — ) Repurchase of shares from employees — ) — — ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net cash used in financing activities ) ) — ) Effect of changes in exchange rates on cash and cash equivalents — ) — — ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net 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 Issuer Guarantor Non-Guarantor 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 assets — ) — — ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 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 Issuer Guarantor Non-Guarantor 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 assets — ) — — ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 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 $ — $ $ $ — $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Description of the Business a43

Description of the Business and Basis of Presentation, Equipment (Details) $ in Millions	Dec. 31, 2016USD ($)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	303,246
Net book value of owned equipment | $	$ 1,420

Description of the Business a44

Description of the Business and Basis of Presentation, Organization (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Aug. 09, 2012	Jul. 12, 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	$ 300,000
Interest rate (as a percent)				11.00%
Interpool
Borrowings
Percentage ownership of subsidiaries	100.00%

Description of the Business a45

Description of the Business and Basis of Presentation - Acquisition (Details) - USD ($) $ in Thousands	Feb. 29, 2016	Dec. 31, 2016	Dec. 31, 2015
Business Combination, Consideration Transferred
Goodwill		$ 256,815	$ 251,907
Interstar
Business Combination, Consideration Transferred
Purchase consideration	$ 5,943
Earn-out provision included in the purchase consideration	1,000
Goodwill	$ 4,908

Description of the Business a46

Description of the Business and Basis of Presentation, Concentration (Details)	12 Months Ended
	Dec. 31, 2016segmentcustomeritem	Dec. 31, 2015customer	Dec. 31, 2014customer
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	54.00%	58.00%	62.00%
Number of customers | customer	25	25	25
Motor carriers | Revenues | Customer concentration
Description of Business
Percentage of the Company's total revenues	56.00%	56.00%	48.00%
Motor carriers | Revenues | Customer concentration | Minimum
Description of Business
Number of customers	3,800

Summary of Significant Accoun47

Summary of Significant Accounting Policies, Consolidation (Details)	12 Months Ended
	Dec. 31, 2016
TRAC Interstar
Principles of Consolidation
Percentage ownership of subsidiaries	100.00%

Summary of Significant Accoun48

Summary of Significant Accounting Policies, Risks (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2016USD ($)customeritem	Dec. 31, 2015USD ($)customer	Dec. 31, 2014USD ($)customer
Risk and Uncertainties
Number of significant types of economic risk | item	2
Risk and Uncertainties
Outstanding principal in direct finance leases	$ 11,306	$ 12,797	$ 16,215
Revenues | Customer concentration | Top ten customers
Risk and Uncertainties
Concentration risk (as a percent)	38.00%	41.00%	45.00%
Number of customers | customer	10	10	10
Revenues | Customer concentration | Largest customer
Risk and Uncertainties
Concentration risk (as a percent)	8.00%	7.00%	6.00%
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	$ 6,760
Outstanding principal | Credit concentration | Top three customers
Risk and Uncertainties
Outstanding principal in direct finance leases	$ 10,098	$ 12,197	$ 14,592
Concentration risk (as a percent)	89.00%	95.00%	90.00%
Number of customers | customer	3	3	3

Summary of Significant Accoun49

Summary of Significant Accounting Policies, Lease Equipment (Details) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Jun. 30, 2014	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Leasing equipment
Remanufacturing costs		$ 30,771	$ 41,211	$ 40,214
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
Refurbishment costs		$ 22,115	$ 12,701	$ 2,712

Summary of Significant Accoun50

Summary of Significant Accounting Policies, Equipment (Details)	12 Months Ended
	Dec. 31, 2016
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 Accoun51

Summary of Significant Accounting Policies, Derivative Instruments and Hedging Activities (Details) $ in Thousands	Feb. 29, 2016derivative	Feb. 04, 2016derivative	Aug. 09, 2012USD ($)
Interest rate swap
Derivative Instruments and Hedging Activities
Number of interest rate swap agreements	3	2
Deutsche Bank AG | Interest rate swap
Derivative Instruments and Hedging Activities
Number of interest rate swap agreements	2
PNC Bank | Interest rate swap
Derivative Instruments and Hedging Activities
Number of interest rate swap agreements	1
Senior Secured Credit Agreement | Fortis Facility
Derivative Instruments and Hedging Activities
Repayments of senior secured credit agreement | $			$ 630,000

Summary of Significant Accoun52

Summary of Significant Accounting Policies, Additional (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2016USD ($)segmentitem	Dec. 31, 2015USD ($)	Dec. 31, 2014USD ($)
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 | $	$ 933	$ 1,327	$ 928

Leasing Activity (Details)

Leasing Activity (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Leasing Activity
Contingent rental, operating leases	$ 0	$ 0	$ 0
Contingent rental, direct finance leases	0	0	0
Future minimum lease revenue
2,017	67,054
2,018	28,832
2,019	25,792
2,020	20,666
2,021	16,726
Thereafter	334
Total	159,404
Direct finance leases
Guaranteed and unguaranteed residual values	8,656	8,673
Total Lease Receivables
2,017	10,967
2,018	713
2,019	324
2,020	216
2,021	63
Thereafter	7
Total	12,290	14,330
Unearned Lease Income
2,017	692
2,018	194
2,019	67
2,020	27
2,021	4
Total	984	1,533
Net Lease Receivables
2,017	10,275
2,018	519
2,019	257
2,020	189
2,021	59
Thereafter	7
Total	$ 11,306	$ 12,797	$ 16,215

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, 2016	Dec. 31, 2015	Dec. 31, 2014
Leasing equipment
Total leasing equipment			$ 1,890,474	$ 1,888,940
Less accumulated depreciation			(482,104)	(452,962)
Leasing equipment, net of accumulated depreciation		$ 1,436,909	1,408,370	1,435,978	$ 1,436,909
Depreciation expense			74,414	72,128	72,114
Income before provision for income taxes			30,718	44,598	$ (6,401)
Assets recorded under capital leases
Leasing equipment under capital leases			22,008	121,817
Accumulated depreciation under capital leases			$ 6,777	$ 46,304
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)
Income before provision for income taxes		$ 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) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Leasing Equipment
Shrinkage	$ 1,811	$ 1,102	$ 218
Corroded/Unusable	6,406	4,128	2,527
Impairment	5,700	2,047	3,110
Total impairment of leasing equipment	$ 13,917	$ 7,277	$ 5,855

Leasing Equipment, Retirement (

Leasing Equipment, Retirement (Details) $ 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 Developm57

Capitalized Software Development Costs (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
Capitalized Software Development Costs
Capitalized software development costs	$ 23,398	$ 9,675
Estimated useful life of software	7 years

Goodwill (Details)

Goodwill (Details) $ in Thousands	Feb. 29, 2016USD ($)	Dec. 31, 2016USD ($)segment	Dec. 31, 2015USD ($)	Dec. 31, 2014USD ($)
Goodwill
Number of reportable units | segment		2
Goodwill		$ 256,815	$ 251,907
Accumulated impairment losses		0
Impairment		0	0	$ 0
Marine Market segment
Goodwill
Goodwill		134,730	134,019
Domestic Market segment
Goodwill
Goodwill		$ 122,085	$ 117,888
Interstar
Goodwill
Goodwill	$ 4,908
Purchase consideration	$ 5,943

Borrowings - Summary of long-te

Borrowings - Summary of long-term debt (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014	Aug. 17, 2015
Borrowings
Total debt and capital lease obligations	$ 1,097,401	$ 1,080,679
Debt Issuance Cost	13,244	18,350
Less current maturities	(9,173)	(41,396)
Long-term debt, less current maturities	$ 1,088,228	$ 1,039,283
Weighted average interest rate (as a percent)	4.05%	5.37%	5.78%
ABL Facility
Borrowings
Total debt and capital lease obligations				$ 176,000
Senior Secured 11% Notes
Borrowings
Total debt and capital lease obligations	$ 45,000	$ 150,000		$ 150,000
Debt Issuance Cost	$ 593	$ 2,746
Interest rate (as a percent)	11.00%	11.00%
Weighted average interest rate (as a percent)	11.54%	11.53%	11.54%
Senior Secured Credit Agreement | ABL Facility
Borrowings
Total debt and capital lease obligations	$ 1,032,000	$ 867,000
Debt Issuance Cost	12,636	15,585
Loans Payable CIMC
Borrowings
Total debt and capital lease obligations	11,989	14,519
Debt Issuance Cost	$ 13	$ 16
Weighted average interest rate (as a percent)	4.98%	4.59%	4.53%
Capital lease obligations
Borrowings
Total debt and capital lease obligations	$ 8,412	$ 49,160
Debt Issuance Cost	$ 2	$ 3
Weighted average interest rate (as a percent)	4.86%	4.81%	4.96%

Borrowings - Senior Secured 11%

Borrowings - Senior Secured 11% Notes (Details) - USD ($) $ in Thousands	Dec. 28, 2016	Aug. 15, 2016	Aug. 17, 2015	Aug. 09, 2012	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014	Feb. 27, 2017	Aug. 17, 2016	Mar. 07, 2016	Jul. 12, 2012
Borrowings
Aggregate outstanding amount					$ 1,097,401	$ 1,080,679
Weighted average interest rate (as a percent)					4.05%	5.37%	5.78%
LIBOR
Borrowings
Maturity of reference rate for variable interest					1 month
One month LIBOR interest rate (as a percent)					0.7717%
ABL Facility
Borrowings
Principal amount of debt	$ 25,000							$ 19,000
Aggregate outstanding amount			$ 176,000
Variable rate basis			one-month LIBOR
Interest rate added to variable rate basis (as a percent)			2.25%
Borrowings		$ 80,000
ABL Facility | LIBOR
Borrowings
Interest rate added to variable rate basis (as a percent)	2.00%	2.00%
Maturity of reference rate for variable interest	1 month	1 month
Senior Secured 11% Notes
Borrowings
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
Aggregate outstanding amount			$ 150,000		$ 45,000	$ 150,000
Percentage of principal amount			108.25%
Debt repayment			$ 162,375
Redemption of principal amount	$ 25,000	$ 80,000	150,000		$ 45,000			$ 25,000	$ 80,000
Debt instrument premium			$ 12,375
Redemption price as a percentage of principal	105.50%	105.50%
Debt offering expenses	$ 329	$ 1,206
Amount paid for notes redeemed	26,375	84,400
Premium amount paid	$ 1,375	$ 4,400
Weighted average interest rate (as a percent)					11.54%	11.53%	11.54%
Senior Secured 11% Notes | Unregistered Original Notes
Borrowings
Principal amount of debt				$ 300,000							$ 300,000
Senior Secured 11% Notes | Prior to August 15, 2015
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%
Senior secured notes
Borrowings
Principal amount of debt										$ 485,000
Senior secured notes | Selling, general and administrative expenses
Borrowings
Debt offering expenses					$ 1,603

Borrowings - ABL Facility (Deta

Borrowings - ABL Facility (Details) $ / shares in Units, $ in Thousands

Dec. 28, 2016

Aug. 15, 2016USD ($)

Jan. 14, 2016USD ($)$ / sharesshares

Dec. 14, 2015USD ($)

Aug. 17, 2015USD ($)

Aug. 11, 2015USD ($)

Apr. 15, 2014USD ($)

Apr. 14, 2014

Aug. 09, 2012USD ($)

Dec. 31, 2016USD ($)item

Dec. 31, 2015USD ($)

Dec. 31, 2014USD ($)

Dec. 10, 2016

Dec. 10, 2015USD ($)

Dec. 31, 2012USD ($)

Borrowings

Weighted average interest rate (as a percent)

4.05%

5.37%

5.78%

Aggregate outstanding amount

$ 1,097,401

$ 1,080,679

ABL Facility

Borrowings

Borrowings

$ 80,000

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

Aggregate outstanding amount

$ 176,000

ABL Facility | Minimum

Borrowings

Fixed charge coverage ratio

1

ABL Facility | Interpool

Borrowings

Loss on extinguishment of debt

$ 739

Repurchase amount

$ 51,000

Number of shares repurchased and retired | shares

62

Common shares, par value (in dollars per share) | $ / shares

$ 0.01

LIBOR | ABL Facility

Borrowings

Interest rate added to variable rate basis (as a percent)

2.00%

2.00%

Less than 300 Million | ABL Facility | Maximum

Borrowings

Average availability

$ 300,000

300 Million to less than 600 Million | ABL Facility | Minimum

Borrowings

Average availability

300,000

300 Million to less than 600 Million | ABL Facility | Maximum

Borrowings

Average availability

600,000

Greater than 600 Million | ABL Facility | Minimum

Borrowings

Average availability

$ 600,000

Senior Secured Credit Agreement | Interpool

Borrowings

Deferred financing fees

749

Senior Secured Credit Agreement | ABL Facility

Borrowings

Borrowings

$ 725,000

$ 1,250,000

$ 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%

Aggregate outstanding amount

$ 1,032,000

$ 867,000

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 | LIBOR | ABL Facility

Borrowings

Interest rate added to variable rate basis (as a percent)

2.75%

2.25%

Credit Agreement-Third Amendment | ABL Facility | Interpool

Borrowings

Borrowings

1,400,000

Current revolving commitment borrowing capacity

1,250,000

Credit Agreement-Incremental Amendment | ABL Facility | Interpool

Borrowings

Borrowings

$ 1,300,000

1,300,000

Increase (decrease) in revolving commitment

$ 50,000

50,000

Loss on extinguishment of debt

$ 2,647

Deferred financing fees

$ 9,250

Weighted average interest rate (as a percent)

3.11%

3.51%

3.60%

Aggregate outstanding amount

$ 1,032,000

$ 867,000

Available borrowing capacity

$ 203,028

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 JPMorgan Chase Bank, 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

Credit Agreement-Fourth Amendment | ABL Facility | Interpool

Borrowings

Borrowings

$ 1,500,000

Credit Agreement-Fourth Amendment | ABL Facility With existing lenders | Interpool

Borrowings

Borrowings

$ 1,250,000

Eurodollar Loans | ABL Facility

Borrowings

Interest rate (as a percent)

2.00%

Eurodollar Loans | Less than 300 Million | ABL Facility

Borrowings

Interest rate (as a percent)

2.25%

Eurodollar Loans | 300 Million to less than 600 Million | ABL Facility

Borrowings

Interest rate (as a percent)

2.00%

Eurodollar Loans | Greater than 600 Million | ABL Facility

Borrowings

Interest rate (as a percent)

1.75%

ABR Loans | ABL Facility

Borrowings

Interest rate (as a percent)

1.00%

ABR Loans | Less than 300 Million | ABL Facility

Borrowings

Interest rate (as a percent)

1.25%

ABR Loans | 300 Million to less than 600 Million | ABL Facility

Borrowings

Interest rate (as a percent)

1.00%

ABR Loans | Greater than 600 Million | ABL Facility

Borrowings

Interest rate (as a percent)

0.75%

Senior Secured 11% Notes

Borrowings

Financing fees expensed upon redemption

3,058

$ 9,555

Interest rate (as a percent)

11.00%

11.00%

Weighted average interest rate (as a percent)

11.54%

11.53%

11.54%

Aggregate outstanding amount

$ 150,000

$ 45,000

$ 150,000

Loans Payable CIMC

Borrowings

Weighted average interest rate (as a percent)

4.98%

4.59%

4.53%

Aggregate outstanding amount

$ 11,989

$ 14,519

Capital lease obligations

Borrowings

Weighted average interest rate (as a percent)

4.86%

4.81%

4.96%

Aggregate outstanding amount

$ 8,412

$ 49,160

Capital lease obligations | Minimum

Borrowings

Interest rate (as a percent)

5.00%

Capital lease obligations | Maximum

Borrowings

Interest rate (as a percent)

5.29%

Borrowings - Loans Payable CIMC

Borrowings - Loans Payable CIMC (Details) $ in Thousands	9 Months Ended	12 Months Ended
	Jun. 30, 2011item	Dec. 31, 2016USD ($)	Dec. 31, 2015USD ($)	Dec. 31, 2014	Dec. 31, 2010item
Borrowings
Aggregate outstanding amount | $		$ 1,097,401	$ 1,080,679
Weighted average interest rate (as a percent)		4.05%	5.37%	5.78%
Loans Payable CIMC
Borrowings
Number of chassis contracted for the remanufacture and financing with CIMC					3,135
Percentage of acquisition cost of remanufactured chassis financed by CIMC					90.00%
Number of tranches in which equipment were delivered.	8
Number of financing agreements signed	8
Term of each agreement commencing on the acceptance date of the equipment	120 months
Aggregate outstanding amount | $		$ 11,989	$ 14,519
Weighted average interest rate (as a percent)		4.98%	4.59%	4.53%

Borrowings - Capital Lease Obli

Borrowings - Capital Lease Obligations (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2016USD ($)item	Dec. 31, 2015USD ($)leaseitem	Dec. 31, 2014USD ($)item
Borrowings
Total debt and capital lease obligations	$ 1,097,401	$ 1,080,679
Weighted average interest rate (as a percent)	4.05%	5.37%	5.78%
Loss on modification and extinguishment of debt and capital lease obligations	$ 7,486	$ 19,852	$ 315
Capital lease obligations
Borrowings
Total debt and capital lease obligations	$ 8,412	$ 49,160
Weighted average interest rate (as a percent)	4.86%	4.81%	4.96%
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	$ 175	$ 860	$ 225
Number of capital lease purchase options | item	16
Number of early purchase options | item	4
Number of maturing capital leases | item	12
Aggregate purchase price of asset under capital lease	$ 47,107
Capital lease obligations | Minimum
Borrowings
Interest rate (as a percent)	5.00%
Capital lease obligations | Maximum
Borrowings
Interest rate (as a percent)	5.29%
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
Number of maturing capital leases | lease		2

Borrowings - Assets Pledged as

Borrowings - Assets Pledged as Collateral (Details) - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015
Borrowings
Assets pledged as collateral	$ 1,418,197	$ 1,447,223
Senior Secured Credit Agreement | ABL Facility
Borrowings
Assets pledged as collateral	1,377,571	1,344,961
Loans Payable CIMC
Borrowings
Assets pledged as collateral	25,387	26,609
Capital lease obligations
Borrowings
Assets pledged as collateral	$ 15,239	$ 75,653

Borrowings - Debt Maturities (D

Borrowings - Debt Maturities (Details) - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015
Debt Maturities
2,017	$ 9,173
2,018	3,284
2,019	48,432
2,020	1,035,589
2,021	923
Total debt and capital lease obligations	$ 1,097,401	$ 1,080,679

Derivatives and Hedging Activ66

Derivatives and Hedging Activities (Details) $ in Thousands	Jan. 10, 2013USD ($)	Aug. 09, 2012USD ($)derivative	Dec. 31, 2016USD ($)	Feb. 29, 2016derivative	Feb. 05, 2016USD ($)	Feb. 04, 2016USD ($)derivative	Dec. 31, 2015USD ($)
LIBOR
Derivative and Hedging Activities
Maturity of reference rate for variable interest			1 month
One month LIBOR interest rate (as a percent)			0.7717%
Interest rate swap
Derivative and Hedging Activities
Number of derivative instruments terminated | derivative		6
Amount paid on settlement, including accrued interest		$ 91,422
Accrued interest paid at settlement		$ 1,052
Variable rate debt hedged			$ 450,000				$ 300,000
Fixed interest rate payable (as a percent)					1.1175%	1.063%
Number of interest rate swap agreements | derivative				3		2
Interest rate swap | LIBOR
Derivative and Hedging Activities
Variable rate debt hedged	$ 300,000				$ 100,000	$ 50,000
Maturity of reference rate for variable interest	1 month
One month LIBOR interest rate (as a percent)	0.756%
Interest rate swap | Forward Contracts
Derivative and Hedging Activities
Variable rate debt hedged						$ 300,000
Fixed interest rate payable (as a percent)						1.2985%
Interest rate swap | Forward Contracts | LIBOR
Derivative and Hedging Activities
Variable rate debt hedged						$ 300,000

Derivatives and Hedging Activ67

Derivatives and Hedging Activities - Interest Rate Derivatives (Details) - USD ($) $ in Thousands	Dec. 31, 2016	Jan. 10, 2013	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014	Feb. 05, 2016	Feb. 04, 2016
LIBOR
Derivative and Hedging Activities
Floating Rate, maturity			1 month
Interest rate swap
Derivative and Hedging Activities
Notional Amount	$ 450,000		$ 450,000	$ 300,000	$ 300,000
Fixed Leg Interest Rate (as a percent)						1.1175%	1.063%
Weighted-Average Fixed Leg Interest Rate (as a percent)	0.8704%		0.8704%	0.756%	0.756%
Weighted-Average Remaining Term	1 year 8 months 19 days			1 year 6 months 11 days	2 years 6 months 11 days
Interest rate swap | LIBOR
Derivative and Hedging Activities
Floating Rate, maturity		1 month
Interest rate swap | Designated as hedge | Derivative Maturing in Aug-2017 with 0.756% | Cash flow hedge
Derivative and Hedging Activities
Notional Amount	$ 300,000		$ 300,000
Fixed Leg Interest Rate (as a percent)	0.756%		0.756%
Interest rate swap | Designated as hedge | Derivative Maturing in Aug-2017 with 0.756% | Cash flow hedge | Other assets
Derivative and Hedging Activities
Fair Value	$ 168		$ 168
Interest rate swap | Designated as hedge | Derivative Maturing in Aug-2017 with 0.756% | Cash flow hedge | LIBOR
Derivative and Hedging Activities
Floating Rate, maturity			1 month
Interest rate swap | Designated as hedge | Derivative Maturing in Dec-2020 with 1.063% | Cash flow hedge
Derivative and Hedging Activities
Notional Amount	$ 50,000		$ 50,000
Fixed Leg Interest Rate (as a percent)	1.063%		1.063%
Interest rate swap | Designated as hedge | Derivative Maturing in Dec-2020 with 1.063% | Cash flow hedge | Other assets
Derivative and Hedging Activities
Fair Value	$ 1,103		$ 1,103
Interest rate swap | Designated as hedge | Derivative Maturing in Dec-2020 with 1.063% | Cash flow hedge | LIBOR
Derivative and Hedging Activities
Floating Rate, maturity			1 month
Interest rate swap | Designated as hedge | Derivative Maturing in Dec-2020 with 1.1175% | Cash flow hedge
Derivative and Hedging Activities
Notional Amount	$ 100,000		$ 100,000
Fixed Leg Interest Rate (as a percent)	1.1175%		1.1175%
Interest rate swap | Designated as hedge | Derivative Maturing in Dec-2020 with 1.1175% | Cash flow hedge | Other assets
Derivative and Hedging Activities
Fair Value	$ 2,066		$ 2,066
Interest rate swap | Designated as hedge | Derivative Maturing in Dec-2020 with 1.1175% | Cash flow hedge | LIBOR
Derivative and Hedging Activities
Floating Rate, maturity			1 month
Interest rate swap | Designated as hedge | Derivative Maturing in Dec-2020 with 1.2985% | Cash flow hedge
Derivative and Hedging Activities
Notional Amount	$ 300,000		$ 300,000
Fixed Leg Interest Rate (as a percent)	1.2985%		1.2985%
Interest rate swap | Designated as hedge | Derivative Maturing in Dec-2020 with 1.2985% | Cash flow hedge | Other assets
Derivative and Hedging Activities
Fair Value	$ 4,787		$ 4,787
Interest rate swap | Designated as hedge | Derivative Maturing in Dec-2020 with 1.2985% | Cash flow hedge | LIBOR
Derivative and Hedging Activities
Floating Rate, maturity			1 month

Derivatives and Hedging Activ68

Derivatives and Hedging Activities - Net of Tax Effect of Cash Flow Hedge (Details) - Interest rate swap - Designated as hedge - Cash flow hedge - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Net of tax effect of cash flow hedge derivative instruments
Change in Unrealized Gain (Loss) Recognized in OCI on Derivatives, Effective Portion	$ 3,693	$ (1,982)	$ (2,005)
Interest expenses
Net of tax effect of cash flow hedge derivative instruments
Loss Reclassified from OCI into Income, Effective Portion	10,979	13,316	12,131
(Gain) Loss Recognized Directly in Income on Derivative, Ineffective Portion	251	(85)	(84)
Net settlements of interest rate derivatives, net of tax of ($676), ($685) and ($720), respectively	1,045	1,059	1,106
Net settlements of interest rate derivatives, tax	(676)	(685)	(720)
Amortization of terminated derivatives, net of tax of ($6,425), ($7,920) and ($7,265), respectively	9,934	12,257	11,025
Amortization of terminated derivatives, tax	$ (6,425)	$ (7,920)	$ (7,265)

Derivatives and Hedging Activ69

Derivatives and Hedging Activities - Deferred (Gains) and Losses for Terminated Interest Rate Derivatives (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014	Feb. 05, 2016	Feb. 04, 2016
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	$ 171
Net interest settlements on active interest rate derivatives expected to be amortized over the next 12 months, tax	111
Deferred losses on the Company's terminated derivatives expected to be amortized over the next twelve months, net of tax	7,008
Deferred losses on the Company's terminated derivatives expected to be amortized over the next twelve months, tax	4,532
Interest rate swap
Deferred (gains) and losses for the terminated interest rate derivatives and the related amortization into interest expense
Fixed Rate %				1.1175%	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
Deferred Loss Upon Termination	127,529
Un-amortized Deferred (Gain) Loss	11,540
Amount of Deferred Loss Amortized (including Accelerated Amortization) into Interest Expense	16,359	$ 20,177	$ 18,290
Amount of Deferred Loss Expected to be Amortized over the Next 12 months	11,540
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
Amount of Deferred Loss Amortized (including Accelerated Amortization) into Interest Expense	(6)	(2)	10
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
Un-amortized Deferred (Gain) Loss	(3)
Amount of Deferred Loss Amortized (including Accelerated Amortization) into Interest Expense	(14)	(6)	45
Amount of Deferred Loss Expected to be Amortized over the Next 12 months	(3)
Interest rate swap | Designated as hedge | Cash flow hedge | Terminated derivative at fixed rate of 5.580%, 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
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
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
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
Un-amortized Deferred (Gain) Loss	378
Amount of Deferred Loss Amortized (including Accelerated Amortization) into Interest Expense	526	662	145
Amount of Deferred Loss Expected to be Amortized over the Next 12 months	378
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
Un-amortized Deferred (Gain) Loss	211
Amount of Deferred Loss Amortized (including Accelerated Amortization) into Interest Expense	471	698	146
Amount of Deferred Loss Expected to be Amortized over the Next 12 months	211
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)
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)
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
Un-amortized Deferred (Gain) Loss	(1)
Amount of Deferred Loss Amortized (including Accelerated Amortization) into Interest Expense	(44)	(58)	(61)
Amount of Deferred Loss Expected to be Amortized over the Next 12 months	(1)
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
Un-amortized Deferred (Gain) Loss	(20)
Amount of Deferred Loss Amortized (including Accelerated Amortization) into Interest Expense	(114)	(206)	(247)
Amount of Deferred Loss Expected to be Amortized over the Next 12 months	(20)
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
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
Un-amortized Deferred (Gain) Loss	6
Amount of Deferred Loss Amortized (including Accelerated Amortization) into Interest Expense	197	330	469
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 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
Un-amortized Deferred (Gain) Loss	87
Amount of Deferred Loss Amortized (including Accelerated Amortization) into Interest Expense	579	1,321	2,135
Amount of Deferred Loss Expected to be Amortized over the Next 12 months	87
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
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
Interest rate swap | Designated as hedge | Cash flow hedge | Terminated derivative at fixed rate of 4.000%, 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
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
Un-amortized Deferred (Gain) Loss	10,882
Amount of Deferred Loss Amortized (including Accelerated Amortization) into Interest Expense	14,764	$ 17,438	$ 3,288
Amount of Deferred Loss Expected to be Amortized over the Next 12 months	$ 10,882

Commitments and Contingencies70

Commitments and Contingencies (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2016USD ($)tier	Dec. 31, 2015USD ($)	Dec. 31, 2014USD ($)
Purchase Commitments
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	$ 23,203
Purchase commitments due in 2017	6,613
Purchase commitments due in 2018	5,530
Purchase commitments due in 2019	5,530
Purchase commitments due in 2020	5,530
Lease Commitments
Rental expense under operating leases	12,877	$ 14,417	$ 8,541
2,017	11,864
2,018	5,210
2,019	3,773
2,020	3,407
2,021	3,465
Thereafter	12,067
Total	39,786
Refurbishment of chassis
Purchase Commitments
Commitments for capital expenditures for leasing equipment	18,950
Payments to be made on cancellation of order	11,588
Commitments for capital expenditures over a four year period	$ 92,784
Period for contractual obligation	4 years

Commitments and Contingencies -

Commitments and Contingencies - Stock Buyback Program (Details) - USD ($) $ / shares in Units, $ in Thousands	Apr. 13, 2016	Dec. 31, 2016
Stock Buyback Program
Purchase price (in dollars per share)		$ 10.50
SCT Chassis, Inc. | Interpool
Stock Buyback Program
Percentage of shares to be repurchased	25.00%
Purchase price (in dollars per share)		$ 10.50
Estimated repurchase amount		$ 3,035

Commitments and Contingencies72

Commitments and Contingencies - Guarantees and Indemnifications (Details) - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015
Indemnifications
Guarantees and Indemnifications
Accrued losses	$ 0	$ 0
ILWU Roadability Program - Inspection Fees
Guarantees and Indemnifications
Invoices received for inspection fees	$ 5,550,000

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Domestic and foreign pre-tax income (loss)
Domestic	$ 28,440	$ 42,204	$ (7,988)
Foreign	2,278	2,394	1,587
Income (loss) before provision (benefit) for income taxes	30,718	44,598	(6,401)
Current taxes:
Federal		10	(795)
State	39	(211)	713
Foreign	108	162	67
Total current taxes	147	(39)	(15)
Deferred taxes:
Federal	9,847	15,101	(2,115)
State	945	2,832	(1,395)
Foreign	(146)	(14)	80
Total deferred taxes	10,646	17,919	(3,430)
Total provision (benefit) for income taxes	$ 10,793	$ 17,880	$ (3,445)
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)	3.10%	5.80%	12.90%
Foreign earnings taxed at other than 35% (as a percent)	(1.90%)	(1.10%)	7.50%
Research and development tax credit (as a percent)	(0.80%)
Changes in uncertain tax positions (as a percent)	0.10%		(6.30%)
Valuation allowances (as a percent)			5.10%
Permanent tax items (as a percent)	(0.40%)	0.40%	(0.40%)
Effective tax rate (as a percent)	35.10%	40.10%	53.80%
Deferred tax assets:
Loss carryforwards	$ 305,157	$ 302,485
Derivative instruments	1,334	10,821
Other	7,162	5,741
Deferred tax assets	313,653	319,047
Valuation allowance	(21)	(199)
Total deferred tax assets	313,632	318,848
Deferred tax liabilities:
Operating property, net	456,961	435,376
Derivative instruments	4,436	11,052
Total deferred tax liabilities	461,397	446,428
Net deferred tax liabilities	147,765	127,580
Additional disclosures
PALs carryforwards	228,931
NOLs carryforwards	546,804
R&D tax credits pertaining to Project Helix	$ 242
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	977
Change during the period	12
Balance at the end of the period	989	977	$ 977
Interest and penalties	$ 17	16	94
Period from utilization, regardless of year of origin, for NOLs to remain subject to examination	3 years
Cumulative undistributed foreign earnings	$ 6,106	$ 4,306	$ 2,610

Accumulated Other Comprehensi74

Accumulated Other Comprehensive Loss (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Changes in accumulated other comprehensive (loss) by component:
Balance at beginning of the year	$ (18,103)	$ (28,617)	$ (38,348)
Current-period other comprehensive (loss) income	14,672	10,514	9,731
Balance at end of the year	(3,431)	(18,103)	(28,617)
Unrealized Gain (Loss) on Derivative Instruments
Changes in accumulated other comprehensive (loss) by component:
Balance at beginning of the year	198	1,121	2,020
Current-period other comprehensive (loss) income	4,738	(923)	(899)
Balance at end of the year	4,936	198	1,121
Net Derivative Loss to be Reclassified into Earnings
Changes in accumulated other comprehensive (loss) by component:
Balance at beginning of the year	(16,944)	(29,201)	(40,226)
Current-period other comprehensive (loss) income	9,934	12,257	11,025
Balance at end of the year	(7,010)	(16,944)	(29,201)
Foreign Currency Translation
Changes in accumulated other comprehensive (loss) by component:
Balance at beginning of the year	(1,357)	(537)	(142)
Current-period other comprehensive (loss) income		(820)	(395)
Balance at end of the year	$ (1,357)	$ (1,357)	$ (537)

Accumulated Other Comprehensi75

Accumulated Other Comprehensive Loss - Effects of Reclassifications Out of AOCI (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Income Statement Total
Interest expense	$ 62,777	$ 80,246	$ 86,837
Benefit for income taxes	10,793	17,880	(3,445)
Net loss reclassified out of AOCI	(19,925)	(26,718)	2,956
AOCI reclassifications | Net Derivative Loss to be Reclassified into Earnings
Income Statement Total
Interest expense	16,359	20,177	18,290
Benefit for income taxes	(6,425)	(7,920)	(7,265)
Net loss reclassified out of AOCI	$ 9,934	$ 12,257	$ 11,025

Share-Based Payments - Restrict

Share-Based Payments - Restricted Stock Awards (Details) - USD ($) $ / shares in Units, $ in Thousands	Jun. 01, 2016	Dec. 31, 2015	Mar. 28, 2012	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014	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
Shares
Granted (in shares)						0
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.
Share-based payments, additional information
Number of shares vesting in equal increments		49,261			49,261
Shares
Non-vested at beginning of the year				102,170	180,217	352,443
Granted (in shares)	35,682			35,682	63,963
Forfeited (in shares)						(20,000)
Vested (in shares)		(14,702)		(52,724)	(142,010)	(152,226)
Non-vested at ending of the year		102,170		85,128	102,170	180,217
Weighted-Average Grant Date Fair Value per share
Non-vested at beginning of the year (in dollars per share)				$ 8.79	$ 6.71	$ 6.61
Granted (in dollars per share)	$ 11.21			11.21	10.52
Forfeited (in dollars per share)						6.17
Vested (in dollars per share)				7.97	6.93	6.54
Non-vested at ending of the year (in dollars per share)		$ 8.79		$ 10.31	$ 8.79	$ 6.71
Fair Value of Shares at Grant Date
Non-vested at beginning of the year (in dollars)				$ 898	$ 1,209	$ 2,328
Granted (in dollars)	$ 400			400	673
Forfeited (in dollars)						(123)
Vested (in dollars)				(420)	(984)	(996)
Non-vested at ending of the year (in dollars)		$ 898		$ 878	$ 898	$ 1,209

Share-Based Payments - Stock Bu

Share-Based Payments - Stock Buyback Program (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	May 13, 2016	Dec. 31, 2016	Apr. 13, 2016
Share-based payments, additional information
Purchase price (in dollars per share)		$ 10.50
Additional compensation expense due to liability award		$ 312
Members' interest reclassified to share repurchase liability		641
Additional compensation expense due to redeemable share		744
Reclassification of members' interest to redeemable share		1,859
Estimated redemption value of redeemable indirect parent shares		$ 775
Redeemable shares		2,076	3,378
Interpool
Share-based payments, additional information
Decrease in redeemable indirect parent shares held by management	$ 845
Decrease in share repurchase liability	$ 215
Interpool | Stock Buyback Program
Share-based payments, additional information
Purchase price (in dollars per share)		$ 11.21
Stock repurchase program	94,527
Value of stock repurchase	$ 1,060
Accrued expenses and other liabilities
Share-based payments, additional information
Share repurchase liability		$ 959	$ 953

Share-Based Payments - Share Re

Share-Based Payments - Share Repurchases (Details) - Interpool - USD ($) $ / shares in Units, $ in Thousands	Oct. 08, 2015	Dec. 31, 2016
Share repurchases
Number of shares repurchased by Interpool		60,834
Cost of shares repurchased by Interpool		$ 609
Member's interest
Share repurchases
Cost of shares repurchased by Interpool		306
Redeemable indirect parent shares held by management
Share repurchases
Cost of shares repurchased by Interpool		$ 303
Seacastle Inc. | 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

Share-Based Payments - Restri79

Share-Based Payments - Restricted Stock Unit Plan (Details) - USD ($) $ / shares in Units, $ in Thousands	Oct. 26, 2016	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Share-based payments, additional information
Total number of shares authorized for grant under the plan		2,470,012
Shares available for future grant (in shares)		1,960,993
SCT Chassis, Inc.
Share-based payments, additional information
Share-based compensation expense		$ 1,821	$ 625	$ 810
Unrecognized compensation expense		$ 1,479
Remaining weighted-average vesting period over which the total unrecognized compensation cost is expected to be recognized		2 years
RSUs
Share-based payments, additional information
Lack of marketability discount rate	22.00%
RSUs | SCT Chassis, Inc.
Shares
Granted (in shares)	168,577	168,577
Non-vested at ending of the year		168,577
Weighted-Average Grant Date Fair Value per share
Granted (in dollars per share)	$ 8.36	$ 8.36
Non-vested at ending of the year (in dollars per share)		$ 8.36
Fair Value of Shares at Grant Date
Granted (in dollars)	$ 1,409	$ 1,409
Non-vested at ending of the year (in dollars)		$ 1,409
Vesting on January 1, 2017 | RSUs
Share-based payments, additional information
Vesting percentage		0.33%
Vesting on January 1, 2018 | RSUs
Share-based payments, additional information
Vesting percentage		0.33%
Vesting on January 1, 2019 | RSUs
Share-based payments, additional information
Vesting percentage		0.33%

Segment and Geographic Inform80

Segment and Geographic Information (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2016USD ($)segment	Dec. 31, 2015USD ($)	Dec. 31, 2014USD ($)
Segment and Geographic Information
Number of operating segments | segment	2
Number of reportable segments | segment	2
Segment information
Total revenue	$ 669,203	$ 691,424	$ 626,988
Adjusted EBITDA	195,771	227,228	200,932
Depreciation expense	74,414	72,128	72,114
Net investment in direct finance leases	11,306	12,797	16,215
Leasing equipment	1,408,370	1,435,978	1,436,909
Capital expenditures for long-lived assets	$ 97,788	92,277	154,375
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	$ 49,842	53,897	56,080
Pool revenue
Segment information
Total revenue	574,886	607,350	532,207
All other revenue
Segment information
Total revenue	44,475	30,177	38,701
Operating segments | Marine Market segment
Segment information
Total revenue	453,217	497,268	441,201
Adjusted EBITDA	112,175	150,934	127,779
Depreciation expense	37,285	38,333	37,867
Net investment in direct finance leases	11,283	12,657	16,105
Leasing equipment	726,722	752,056	789,874
Capital expenditures for long-lived assets	54,750	33,656	111,604
Operating segments | Marine Market segment | Term revenue
Segment information
Total revenue	35,248	37,938	38,767
Operating segments | Marine Market segment | Pool revenue
Segment information
Total revenue	405,274	444,513	380,491
Operating segments | Marine Market segment | All other revenue
Segment information
Total revenue	12,695	14,817	21,943
Operating segments | Domestic Market segment
Segment information
Total revenue	191,163	187,387	178,644
Adjusted EBITDA	102,915	107,305	99,313
Depreciation expense	28,186	27,165	26,666
Net investment in direct finance leases	23	140	110
Leasing equipment	494,066	534,573	501,609
Capital expenditures for long-lived assets	26,494	41,701	37,772
Operating segments | Domestic Market segment | Term revenue
Segment information
Total revenue	14,594	15,959	17,313
Operating segments | Domestic Market segment | Pool revenue
Segment information
Total revenue	169,612	162,837	151,716
Operating segments | Domestic Market segment | All other revenue
Segment information
Total revenue	6,957	8,591	9,615
Other
Segment information
Total revenue	24,823	6,769	7,143
Adjusted EBITDA	(19,319)	(31,011)	(26,160)
Depreciation expense	8,943	6,630	7,581
Leasing equipment	187,582	149,349	145,426
Capital expenditures for long-lived assets	16,544	16,920	4,999
Other | All other revenue
Segment information
Total revenue	$ 24,823	$ 6,769	$ 7,143

Segment and Geographic Inform81

Segment and Geographic Information - Reconciliations of Adjusted EBITDA (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Reconciliations of Adjusted EBITDA
Net income (loss)	$ 19,925	$ 26,718	$ (2,956)
Provision (benefit) for income taxes	10,793	17,880	(3,445)
Interest expense	62,777	80,246	86,837
Depreciation expense	74,414	72,128	72,114
Impairment of leasing equipment	13,917	7,277	5,855
Early retirement of leasing equipment			37,766
Loss on modification and extinguishment of debt and capital lease obligations	7,486	19,852	315
Interest income	(109)	(19)	(61)
Other income, net	(1,607)	(1,144)	(925)
Restructuring expense	1,806
Principal collections on direct finance leases, net of interest earned	2,945	3,665	4,622
Share-based compensation	1,821	625	810
Non-recurring professional fees primarily associated with termination of bond offering	1,603
Adjusted EBITDA	$ 195,771	$ 227,228	$ 200,932

Defined Contribution Plan (Deta

Defined Contribution Plan (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
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	$ 2,212	$ 1,993	$ 1,961

Related Party Transactions (Det

Related Party Transactions (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2016USD ($)tier	Dec. 31, 2015USD ($)	Dec. 31, 2014USD ($)
Related party transactions
Net receivables from affiliates	$ 0	$ 584
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	$ 23,203
Purchase commitments due in 2017	6,613
Purchase commitments due in 2018	5,530
Purchase commitments due in 2019	5,530
Purchase commitments due in 2020	5,530
Seacastle Inc.
Related party transactions
Management and facility fees charged to related party	89	124	$ 107
Florida East Coast Railway
Related party transactions
Revenue from related party	2,359	$ 2,242	$ 1,766
Core and affiliates
Related party transactions
Acquisition related costs	4,022
INA
Related party transactions
Acquisition related costs	226
Caliber
Related party transactions
Acquisition related costs	$ 1,344
Core Fleet Retreading
Related party transactions
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	$ 23,203
Purchase commitments due in 2017	6,613
Purchase commitments due in 2018	5,530
Purchase commitments due in 2019	5,530
Purchase commitments due in 2020	$ 5,530

Restructuring Charge (Details)

Restructuring Charge (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2016USD ($)
Restructuring Charge
Restructuring charge	$ 1,806
Accrued restructuring reserve	$ 432

Grow New Jersey Tax Credit (Det

Grow New Jersey Tax Credit (Details) - USD ($) $ in Thousands	Feb. 25, 2016	Jun. 10, 2014	Jan. 31, 2016	Mar. 31, 2016	Dec. 31, 2016
Grow New Jersey Tax Credit
Grow NJ Tax Credit		$ 9,800
Percentage of face value of tax credits to be sold					92.50%
Sale of tax credits to third party	$ 880
Amount received from third party for sale of tax credits	814
Transfer fee for sale of tax credits to third party	$ 4
Sale of NJ Tax Credit | Accrued expenses and other liabilities
Grow New Jersey Tax Credit
Deferred income					$ 272
Sale of NJ Tax Credit | Selling, general and administrative expenses
Grow New Jersey Tax Credit
Grant income recognized					538
New Jersey Division of Taxation
Grow New Jersey Tax Credit
Tax credit certificate issued by New Jersey Division of Taxation			$ 8,800
Period for tax credit (in years)			10 years
Tax credits received				$ 880
Tax credits receivable in future for each year					$ 880

Fair Value of Financial Instr86

Fair Value of Financial Instruments (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
Assets:
Total debt	$ 1,097,401	$ 1,080,679
Liabilities:
Redeemable indirect parent shares held by management	$ 2,076
Share repurchase liability and Redeemable indirect parent shares held by management
Fair value of share (in dollars per share)	$ 10.50
Fair Value of Repurchase Liability
Instituted Stock Buyback Program - Modification	$ 953
Share Repurchases	(215)
Revaluation recorded to Stock compensation expense	(36)
Additions for Shares continuing to vest	257
Ending Balance	959
Fair Value of Redeemable Shares
Instituted Stock Buyback Program - Modification	3,378
Share Repurchases	(1,148)
Revaluation recorded to Paid in capital	(154)
Ending Balance	2,076
Debt
Variable interest rate debt	596,370	584,401
Fixed rate debt	$ 501,031	496,278
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	$ 450,000	300,000
Fair Value
Assets:
Derivative instruments	8,124	576
Total debt	1,107,684	1,094,088
Carrying Amount
Assets:
Derivative instruments	8,124	576
Total debt	$ 1,097,401	$ 1,080,679
Level 2 | Fixed rate debt
Debt
Discount rate (as a percent)	5.00%	4.90%
Recurring | Fair Value
Assets:
Cash and cash equivalents	$ 15,620	$ 3,161
Derivative instruments	8,124	576
Liabilities:
Share Repurchase Liability	959
Redeemable indirect parent shares held by management	2,076
Recurring | Level 1 | Fair Value
Assets:
Cash and cash equivalents	15,620	3,161
Recurring | Level 2 | Fair Value
Assets:
Derivative instruments	8,124	$ 576
Recurring | Level 3 | Fair Value
Liabilities:
Share Repurchase Liability	959
Redeemable indirect parent shares held by management	$ 2,076

Guarantor Financial Informati87

Guarantor Financial Information (Details) - USD ($) $ in Thousands	Jul. 05, 2013	Aug. 09, 2012	Dec. 31, 2016	Feb. 27, 2017	Dec. 28, 2016	Aug. 17, 2016	Aug. 15, 2016	Aug. 17, 2015	Jul. 12, 2012
Senior Secured 11% Notes
Condensed Consolidating Balance Sheet
Redemption of principal amount			$ 45,000	$ 25,000	$ 25,000	$ 80,000	$ 80,000	$ 150,000
Senior Secured 11% Notes | Unregistered Original Notes
Condensed Consolidating Balance Sheet
Principal amount of debt		$ 300,000							$ 300,000
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%
Guarantor Subsidiaries
Condensed Consolidating Balance Sheet
Percentage ownership of subsidiaries			100.00%

Guarantor Financial Informati88

Guarantor Financial Information - Balance Sheet (Details) - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Assets
Cash and cash equivalents	$ 15,620	$ 3,161	$ 4,256	$ 11,843
Accounts receivable, net	96,898	110,662
Net investment in direct finance leases	11,306	12,797	16,215
Leasing equipment, net of accumulated depreciation	1,408,370	1,435,978	1,436,909
Goodwill	256,815	251,907
Affiliate and intercompany receivable		584
Investment in subsidiary	307	237
Other assets	56,535	32,170
Total assets	1,845,851	1,847,496
Liabilities and member's interest
Accounts payable, accrued expenses and other liabilities	62,630	88,933
Deferred income taxes, net	147,765	127,580
Debt and capital lease obligations less debt issuance costs	1,084,157	1,062,329
Total liabilities	1,294,552	1,278,842
Redeemable indirect parent shares held by management	2,076
Total member's interest	549,223	568,654	530,398	523,658
Total liabilities and member's interest	1,845,851	1,847,496
Eliminations
Assets
Net investment in direct finance leases	(6,348)	(7,667)
Affiliate and intercompany receivable		(6)
Intercompany interest receivable	(1,856)	(6,188)
Intercompany note receivable	(45,000)	(150,000)
Investment in subsidiary	(557,364)	(574,992)
Total assets	(610,568)	(738,853)
Liabilities and member's interest
Intercompany payable		(6)
Intercompany note payable	(45,000)	(150,000)
Intercompany interest payable	(1,856)	(6,188)
Intercompany lease payable	(6,348)	(7,667)
Total liabilities	(53,204)	(163,861)
Total member's interest	(557,364)	(574,992)
Total liabilities and member's interest	(610,568)	(738,853)
Issuer Parent | Reportable Legal Entities
Assets
Intercompany interest receivable	1,856	6,188
Intercompany note receivable	45,000	150,000
Investment in subsidiary	549,223	568,654
Total assets	596,079	724,842
Liabilities and member's interest
Accounts payable, accrued expenses and other liabilities	1,856	6,188
Debt and capital lease obligations less debt issuance costs	45,000	150,000
Total liabilities	46,856	156,188
Total member's interest	549,223	568,654
Total liabilities and member's interest	596,079	724,842
Guarantor Subsidiaries | Reportable Legal Entities
Assets
Cash and cash equivalents	11,428	91	2,037	11,308
Accounts receivable, net	96,280	110,039
Net investment in direct finance leases	17,654	20,464
Leasing equipment, net of accumulated depreciation	1,396,750	1,423,788
Goodwill	256,815	251,907
Affiliate and intercompany receivable		590
Investment in subsidiary	8,448	6,575
Other assets	56,294	31,911
Total assets	1,843,669	1,845,365
Liabilities and member's interest
Accounts payable, accrued expenses and other liabilities	60,626	82,598
Intercompany note payable	45,000	150,000
Intercompany interest payable	1,856	6,188
Deferred income taxes, net	145,731	125,596
Debt and capital lease obligations less debt issuance costs	1,039,157	912,329
Total liabilities	1,292,370	1,276,711
Redeemable indirect parent shares held by management	2,076
Total member's interest	549,223	568,654
Total liabilities and member's interest	1,843,669	1,845,365
Non-Guarantor Subsidiaries | Reportable Legal Entities
Assets
Cash and cash equivalents	4,192	3,070	$ 2,219	$ 535
Accounts receivable, net	618	623
Leasing equipment, net of accumulated depreciation	11,620	12,190
Other assets	241	259
Total assets	16,671	16,142
Liabilities and member's interest
Accounts payable, accrued expenses and other liabilities	148	147
Intercompany payable		6
Intercompany lease payable	6,348	7,667
Deferred income taxes, net	2,034	1,984
Total liabilities	8,530	9,804
Total member's interest	8,141	6,338
Total liabilities and member's interest	$ 16,671	$ 16,142

Guarantor Financial Informati89

Guarantor Financial Information - Statements of Operations (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Condensed Consolidating Statements of Operations and Comprehensive Income
Total revenue	$ 669,203	$ 691,424	$ 626,988
Direct operating expenses	373,966	377,715	333,135
Selling, general and administrative expenses	98,023	91,279	84,346
Depreciation expense	74,414	72,128	72,114
Provision (recovery) for doubtful accounts	7,812	(258)	14,007
Impairment of leasing equipment	13,917	7,277	5,855
Restructuring expense	1,806
Early retirement of leasing equipment			37,766
Loss on modification and extinguishment of debt and capital lease obligations	7,486	19,852	315
Interest expense	62,777	80,246	86,837
Interest income	(109)	(19)	(61)
Other income, net	(1,607)	(1,394)	(925)
Total expenses	638,485	646,826	633,389
(Loss) income before (benefit) provision for income taxes	30,718	44,598	(6,401)
Provision (benefit) for income taxes	10,793	17,880	(3,445)
Net income (loss)	19,925	26,718	(2,956)
Unrealized gain on derivative instruments, net of tax of $(3,061), $601 and $585 respectively	4,738	(923)	(899)
Derivative loss reclassified into earnings, net of tax of ($6,425), ($7,920) and ($7,265) respectively	9,934	12,257	11,025
Foreign currency translation loss, net of tax of $(128), $636 and $364 respectively		(820)	(395)
Total other comprehensive income, net of tax	14,672	10,514	9,731
Total comprehensive income	34,597	37,232	6,775
Consolidated Statements of Comprehensive Income (Parenthetical)
Unrealized gain on derivative instruments, tax	(3,061)	601	585
Derivative loss reclassified into earnings, tax	(6,425)	(7,920)	(7,265)
Foreign currency translation loss, tax	(128)	636	364
Eliminations
Condensed Consolidating Statements of Operations and Comprehensive Income
Total revenue	(199)	(237)	(276)
Interest expense	(13,391)	(26,958)	(33,276)
Interest income	13,192	26,721	33,000
Equity in earnings of subsidiary	21,725	28,414	(1,444)
Total expenses	21,526	28,177	(1,720)
(Loss) income before (benefit) provision for income taxes	(21,725)	(28,414)	1,444
Net income (loss)	(21,725)	(28,414)	1,444
Total comprehensive income	(21,725)	(28,414)	1,444
Issuer Parent | Reportable Legal Entities
Condensed Consolidating Statements of Operations and Comprehensive Income
Interest expense	13,192	26,721	33,000
Interest income	(13,192)	(26,721)	(33,000)
Equity in earnings of subsidiary	(19,925)	(26,718)	2,956
Total expenses	(19,925)	(26,718)	2,956
(Loss) income before (benefit) provision for income taxes	19,925	26,718	(2,956)
Net income (loss)	19,925	26,718	(2,956)
Total comprehensive income	19,925	26,718	(2,956)
Guarantor Subsidiaries | Reportable Legal Entities
Condensed Consolidating Statements of Operations and Comprehensive Income
Total revenue	666,196	688,460	624,059
Direct operating expenses	373,922	377,673	333,095
Selling, general and administrative expenses	97,475	90,674	83,788
Depreciation expense	73,844	71,556	71,518
Provision (recovery) for doubtful accounts	7,812	(258)	14,007
Impairment of leasing equipment	13,917	7,277	5,855
Restructuring expense	1,806
Early retirement of leasing equipment			37,766
Loss on modification and extinguishment of debt and capital lease obligations	7,486	19,852	315
Interest expense	62,776	80,243	86,836
Interest income	(101)	(19)	(61)
Equity in earnings of subsidiary	(1,800)	(1,696)	(1,512)
Other income, net	(1,607)	(1,386)	(925)
Total expenses	635,530	643,916	630,682
(Loss) income before (benefit) provision for income taxes	30,666	44,544	(6,623)
Provision (benefit) for income taxes	10,741	17,826	(3,667)
Net income (loss)	19,925	26,718	(2,956)
Unrealized gain on derivative instruments, net of tax of $(3,061), $601 and $585 respectively	4,738	(923)	(899)
Derivative loss reclassified into earnings, net of tax of ($6,425), ($7,920) and ($7,265) respectively	9,934	12,257	11,025
Foreign currency translation loss, net of tax of $(128), $636 and $364 respectively		(820)	(395)
Total other comprehensive income, net of tax	14,672	10,514	9,731
Total comprehensive income	34,597	37,232	6,775
Non-Guarantor Subsidiaries | Reportable Legal Entities
Condensed Consolidating Statements of Operations and Comprehensive Income
Total revenue	3,206	3,201	3,205
Direct operating expenses	44	42	40
Selling, general and administrative expenses	548	605	558
Depreciation expense	570	572	596
Interest expense	200	240	277
Interest income	(8)
Other income, net		(8)
Total expenses	1,354	1,451	1,471
(Loss) income before (benefit) provision for income taxes	1,852	1,750	1,734
Provision (benefit) for income taxes	52	54	222
Net income (loss)	1,800	1,696	1,512
Total comprehensive income	$ 1,800	$ 1,696	$ 1,512

Guarantor Financial Informati90

Guarantor Financial Information - Statement of Cash Flows (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Condensed Consolidating Statement of Cash Flows
Net cash provided by operating activities	$ 151,052	$ 181,335	$ 138,549
Investing activities:
Proceeds from sale of leasing equipment	4,156	11,528	8,265
Collections on net investment in direct finance leases, net of interest earned	2,945	3,665	4,622
Proceeds from sale of other assets, net of other investing activity		2,056
Business acquisition	(4,791)
Investment in direct finance leases	(1,276)
Purchase of leasing equipment	(79,967)	(75,357)	(149,376)
Purchase of fixed assets	(16,545)	(16,920)	(4,999)
Net cash used in investing activities	(95,478)	(75,028)	(141,488)
Financing activities:
Proceeds from long-term debt	294,000	1,179,194	148,000
Repayment of long-term debt	(277,699)	(1,263,736)	(148,292)
Cash paid for debt issuance fees	(306)	(9,999)	(3,156)
Dividend paid	(51,145)
Premium paid for redemption of notes	(5,775)	(12,375)
Business acquisition contingent payment	(478)
Sale of investment in indirect parent		993
Repurchase of shares from employees	(1,669)	(594)	(858)
Net cash used in financing activities	(43,072)	(106,517)	(4,306)
Effect of changes in exchange rates on cash and cash equivalents	(43)	(885)	(342)
Net increase (decrease) in cash and cash equivalents	12,459	(1,095)	(7,587)
Cash and cash equivalents, beginning of year	3,161	4,256	11,843
Cash and cash equivalents, end of year	15,620	3,161	4,256
Eliminations
Condensed Consolidating Statement of Cash Flows
Net cash provided by operating activities	1,517	1,514	1,654
Investing activities:
Collections on net investment in direct finance leases, net of interest earned	(1,517)	(1,514)	(1,654)
Sale of Interpool shares	(51,185)
Net cash used in investing activities	(52,702)	(1,514)	(1,654)
Financing activities:
Proceeds from long-term debt	(105,000)
Repayment of long-term debt	105,000
Repurchase of Interpool shares	51,185
Net cash used in financing activities	51,185
Issuer Parent | Reportable Legal Entities
Investing activities:
Sale of Interpool shares	51,185
Net cash used in investing activities	51,185
Financing activities:
Proceeds from long-term debt	105,000
Repayment of long-term debt	(105,000)
Dividend paid	(51,185)
Net cash used in financing activities	(51,185)
Guarantor Subsidiaries | Reportable Legal Entities
Condensed Consolidating Statement of Cash Flows
Net cash provided by operating activities	148,413	178,970	135,211
Investing activities:
Proceeds from sale of leasing equipment	4,156	11,528	8,265
Collections on net investment in direct finance leases, net of interest earned	4,462	5,179	6,276
Proceeds from sale of other assets, net of other investing activity		2,056
Business acquisition	(4,791)
Investment in direct finance leases	(1,276)
Purchase of leasing equipment	(79,967)	(75,357)	(149,376)
Purchase of fixed assets	(16,545)	(16,920)	(4,999)
Net cash used in investing activities	(93,961)	(73,514)	(139,834)
Financing activities:
Proceeds from long-term debt	294,000	1,179,194	148,000
Repayment of long-term debt	(277,699)	(1,263,736)	(148,292)
Cash paid for debt issuance fees	(306)	(9,999)	(3,156)
Dividend paid	40
Repurchase of Interpool shares	(51,185)
Premium paid for redemption of notes	(5,775)	(12,375)
Business acquisition contingent payment	(478)
Sale of investment in indirect parent		993
Repurchase of shares from employees	(1,669)	(594)	(858)
Net cash used in financing activities	(43,072)	(106,517)	(4,306)
Effect of changes in exchange rates on cash and cash equivalents	(43)	(885)	(342)
Net increase (decrease) in cash and cash equivalents	11,337	(1,946)	(9,271)
Cash and cash equivalents, beginning of year	91	2,037	11,308
Cash and cash equivalents, end of year	11,428	91	2,037
Non-Guarantor Subsidiaries | Reportable Legal Entities
Condensed Consolidating Statement of Cash Flows
Net cash provided by operating activities	1,122	851	1,684
Financing activities:
Net increase (decrease) in cash and cash equivalents	1,122	851	1,684
Cash and cash equivalents, beginning of year	3,070	2,219	535
Cash and cash equivalents, end of year	$ 4,192	$ 3,070	$ 2,219

Subsequent Events (Details)

Subsequent Events (Details) $ in Thousands	Feb. 27, 2017USD ($)	Feb. 01, 2017USD ($)item	Dec. 28, 2016USD ($)	Aug. 15, 2016USD ($)	Aug. 17, 2015USD ($)	Jan. 27, 2017USD ($)	Jan. 03, 2017USD ($)	Dec. 31, 2016USD ($)	Aug. 17, 2016USD ($)
Senior Secured 11% Notes
Subsequent Event
Repayments of senior secured credit agreement	$ 25,000		$ 25,000	$ 80,000	$ 150,000			$ 45,000	$ 80,000
Redemption price as a percentage of principal			105.50%	105.50%
Amount paid for notes redeemed			$ 26,375	$ 84,400
Premium amount paid			1,375	4,400
Debt offering expenses			$ 329	$ 1,206
Capital lease obligations
Subsequent Event
Aggregate purchase price of asset under capital lease								$ 47,107
Subsequent Event
Subsequent Event
Number of chassis agreed to be purchased | item		1,028
Total purchase commitment		$ 4,112
Subsequent Event | Senior Secured 11% Notes
Subsequent Event
Repayments of senior secured credit agreement	$ 25,000					$ 25,000
Redemption price as a percentage of principal	105.50%
Amount paid for notes redeemed	$ 26,375
Premium amount paid	1,375
Debt offering expenses	308
Subsequent Event | Capital lease obligations
Subsequent Event
Aggregate purchase price of asset under capital lease							$ 5,937
ABL Facility
Subsequent Event
Variable rate basis					one-month LIBOR
Interest rate added to variable rate basis (as a percent)					2.25%
ABL Facility | LIBOR
Subsequent Event
Interest rate added to variable rate basis (as a percent)			2.00%	2.00%
ABL Facility | Subsequent Event
Subsequent Event
Repayments of senior secured credit agreement	$ 19,000
ABL Facility | Subsequent Event | LIBOR
Subsequent Event
Variable rate basis	one-month USD LIBOR
Interest rate added to variable rate basis (as a percent)	2.25%

SCHEDULE II Valuation and Qua92

SCHEDULE II Valuation and Qualifying Accounts (Details) - Allowance for Doubtful Accounts - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Movement in valuation and qualifying accounts
Beginning Balance	$ 12,454	$ 19,030	$ 12,475
Additions (Reversals)	7,812	(258)	14,007
(Write-offs) Reversals	(6,301)	(6,300)	(7,445)
Other	78	(18)	(7)
Ending Balance	$ 14,043	$ 12,454	$ 19,030