TRAC Intermodal 10-Q 12 Aug 15 2015 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - Jun. 30, 2015 - shares	Total
Document and Entity Information
Entity Registrant Name	TRAC Intermodal LLC
Entity Central Index Key	1,570,774
Document Type	10-Q
Document Period End Date	Jun. 30, 2015
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Entity Current Reporting Status	Yes
Entity Filer Category	Non-accelerated Filer
Entity Common Stock, Shares Outstanding	0
Document Fiscal Year Focus	2,015
Document Fiscal Period Focus	Q2

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014
Assets
Cash and cash equivalents	$ 3,717	$ 4,256
Accounts receivable, net of allowance of $18,330 and $19,030, respectively	131,581	135,076
Net investment in direct finance leases	14,473	16,215
Leasing equipment, net of accumulated depreciation of $426,187 and $400,408, respectively	1,400,515	1,436,909
Goodwill	251,907	251,907
Other assets	47,846	41,954
Total assets	1,850,039	1,886,317
Liabilities
Accounts payable	18,382	14,781
Accrued expenses and other liabilities	61,474	74,449
Deferred income taxes, net	118,243	102,467
Debt and capital lease obligations:
Due within one year	28,194	30,546
Due after one year	1,068,183	1,133,676
Total debt and capital lease obligations	1,096,377	1,164,222
Total liabilities	$ 1,294,476	$ 1,355,919
Commitments and contingencies (Note 7)
Member's interest
Member's interest	$ 579,236	$ 559,015
Accumulated other comprehensive loss	(23,673)	(28,617)
Total member's interest	555,563	530,398
Total liabilities and member's interest	$ 1,850,039	$ 1,886,317

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014
Consolidated Balance Sheets
Accounts receivable, allowance	$ 18,330	$ 19,030
Leasing equipment, accumulated depreciation	$ 426,187	$ 400,408

Consolidated Statements of Oper

Consolidated Statements of Operations - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Revenues
Equipment leasing revenue	$ 169,438	$ 139,715	$ 330,127	$ 271,084
Finance revenue	389	561	795	1,156
Other revenue	7,786	12,151	15,446	19,838
Total revenues	177,613	152,427	346,368	292,078
Expenses
Direct operating expenses	99,969	82,983	184,920	149,816
Selling, general and administrative expenses	23,012	22,544	44,288	41,113
Depreciation expense	17,914	16,773	35,815	35,277
Provision for doubtful accounts	99	3,660	2,171	7,117
Impairment of leasing equipment	2,569	1,191	4,002	2,317
Early retirement of leasing equipment		37,766		37,766
Loss on modification and extinguishment of debt and capital lease obligations		80	39	102
Interest expense	21,506	21,375	43,603	43,591
Interest income		(23)	(1)	(47)
Other income, net	(221)	(135)	(775)	(517)
Total expenses	164,848	186,214	314,062	316,535
Income (loss) before provision (benefit) for income taxes	12,765	(33,787)	32,306	(24,457)
Provision (benefit) for income taxes	5,054	(12,042)	12,434	(8,186)
Net income (loss)	$ 7,711	$ (21,745)	$ 19,872	$ (16,271)

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income (Loss) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Consolidated Statements of Comprehensive Income (Loss)
Net income (loss)	$ 7,711	$ (21,745)	$ 19,872	$ (16,271)
Unrealized loss on derivative instruments, net of tax of $8 and $612 and $712 and $701, respectively	(11)	(942)	(1,095)	(1,078)
Derivative loss reclassified into earnings, net of tax of ($2,007) and ($1,729) and ($4,130) and ($3,543), respectively	3,103	2,660	6,396	5,452
Foreign currency translation loss, net of tax of ($32) and ($95) and $205 and $35, respectively	50	146	(357)	(61)
Total other comprehensive income, net of tax	3,142	1,864	4,944	4,313
Total comprehensive income (loss)	$ 10,853	$ (19,881)	$ 24,816	$ (11,958)

Consolidated Statements of Com6

Consolidated Statements of Comprehensive (Loss) Income (Parenthetical) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Consolidated Statements of Comprehensive Income (Loss)
Unrealized loss on derivative instruments, tax	$ 8	$ 612	$ 712	$ 701
Derivative loss reclassified into earnings, net	(2,007)	(1,729)	(4,130)	(3,543)
Foreign currency translation, net	$ (32)	$ (95)	$ 205	$ 35

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014
Cash flows from operating activities
Net income (loss)	$ 19,872	$ (16,271)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Depreciation and amortization	35,874	35,407
Provision for doubtful accounts	2,171	7,117
Amortization of deferred financing fees	3,636	3,296
Loss on modification and extinguishment of debt and capital lease obligations	39	102
Derivative loss reclassified into earnings	10,526	8,995
Ineffective portion of cash flow hedges	(42)	(41)
Impairment of leasing equipment	4,002	2,317
Early retirement of leasing equipment		37,766
Share-based compensation	349	436
Deferred income taxes, net	13,340	(9,113)
Other, net	(783)	(521)
Changes in assets and liabilities:
Accounts receivable	1,259	(21,430)
Other assets	(2,079)	(2,030)
Accounts payable	3,601	1,770
Accrued expenses and other liabilities	(6,401)	13,651
Net cash provided by (used in) operating activities	85,364	61,451
Cash flows from investing activities
Proceeds from sale of leasing equipment	7,288	6,694
Collections on net investment in direct finance leases, net of interest earned	2,010	2,359
Purchase of leasing equipment	(16,728)	(95,888)
Purchase of fixed assets	(10,183)	(1,023)
Net cash used in investing activities	(17,613)	(87,858)
Cash flows from financing activities
Proceeds from long-term debt	66,750	92,000
Repayments of long term debt	(134,694)	(61,192)
Cash paid for debt issuance fees		(1,973)
Repurchase of indirect parent shares from employees		(585)
Net cash (used in) provided by financing activities	(67,944)	28,250
Effect of changes in exchange rates on cash and cash equivalents	(346)	(99)
Net (decrease) increase in cash and cash equivalents	(539)	1,744
Cash and cash equivalents, beginning of year	4,256	11,843
Cash and cash equivalents, end of period	3,717	13,587
Supplemental disclosures of cash flow information
Cash paid for interest	29,490	31,224
Cash paid (refunded) for taxes, net	$ (809)	$ 937

Description of the Business and

Description of the Business and Basis of Presentation	6 Months Ended
	Jun. 30, 2015
Description of the Business and Basis of Presentation
Description of the Business and Basis of Presentation	1. Description of the Business and Basis of Presentation The accompanying Consolidated Financial Statements of TRAC Intermodal LLC (the “Company,” “we,” “our” or “TRAC”) are unaudited and have been prepared pursuant to U.S. generally accepted accounting principles (“U.S. GAAP”) and the rules and regulations of the Securities and Exchange Commission (the “SEC”) for interim financial reporting and, in our opinion, reflect all adjustments, including normal recurring items, which are necessary to present fairly the results for interim periods. Operating results for the periods presented are not necessarily indicative of the results that may be expected for the entire year. Certain information and footnote disclosures normally included in consolidated financial statements prepared in accordance with U.S. GAAP have been omitted in accordance with the rules and regulations of the SEC; however, we believe that the disclosures are adequate to make information presented not misleading. These interim Consolidated Financial Statements should be read in conjunction with the Consolidated Financial Statements and notes thereto included in the Company’s annual report on Form 10-K for the year ended December 31, 2014 and with the information contained in other publicly-available filings with the SEC. 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 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 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. TRAC is a Delaware limited liability company that was formed on July 12, 2012 to facilitate the issuance of $300,000 aggregate principal amount of 11% Senior Secured Notes (the “Notes”). The Company conducts its business through its 100% owned subsidiary, Interpool, Inc. (“Interpool”) and its consolidated subsidiaries. TRAC 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. Significant Accounting Policies 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. New Accounting Standards Pending Adoption In April 2015, the Financial Accounting Standards Board (“FASB”) issued authoritative guidance on accounting for Interest-Imputation of Interest (Subtopic 835-30): Simplifying the Presentation of Debt Issuance Costs (“ASU 2015-03”). This update requires that debt issuance cost related to a recognized debt liability be presented in the balance sheet as a direct deduction from the carrying amount of the debt liability, consistent with debt discounts, without changing existing recognition and measurement guidance for debt issuance costs. The new guidance is required to be applied on a retrospective basis and to be accounted for as a change in an accounting principle. The amendments in this update are effective for financial statements issued for fiscal years beginning after December 15, 2015 and interim periods within those fiscal years and early adoption of the amendments in this update is permitted. The Company will adopt this standard on December 31, 2015 on a retrospective basis. The implementation of this standard will result in the reclassification of certain debt issuance costs from Other assets to a reduction in the carrying amount of the related debt liability within the Consolidated Balance Sheets. The estimated reclassifications for the years ended December 31, 2015, 2014 and 2013 are $12.5 million, $21.6 million and $25.3 million, respectively. In February 2015, the FASB issued authoritative guidance on accounting for Consolidation (Topic 810): Amendments to the Consolidation Analysis (“ASU 2015-02”). The amendments address stakeholders concerns that current U.S. GAAP might require a reporting entity to consolidate another legal entity in situations in which the reporting entity’s contractual rights do not give it the ability to act primarily on its own behalf, the reporting entity does not hold a majority of the legal entity’s voting rights, or the reporting entity is not exposed to a majority of the legal entity’s economic benefits or obligations. This update changes the analysis that a reporting entity performs to determine whether it should consolidate certain types of legal entities. This update is effective for fiscal years and interim periods within those fiscal years, beginning after December 15, 2015 and early adoption is permitted. The Company is currently evaluating the impact of this standard on its Consolidated Financial Statements. In January 2015, the FASB issued authoritative guidance on accounting for Income Statement-Extraordinary and Unusual Items (Topic 225-20): Simplifying Income Statement Presentation by Eliminating the Concept of Extraordinary Items (“ASU 2015-01”). The update eliminates from U.S. GAAP the concept of extraordinary items. This update is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2015 and early adoption is permitted provided that the guidance is applied from the beginning of the fiscal year of adoption. The Company will adopt this standard in the first quarter of 2016. The implementation of this standard is not expected to have any impact on the Company’s Consolidated Financial Statements. In May 2014, FASB issued authoritative guidance on accounting for Revenue from Contracts with Customers (Topic 606): (“ASU 2014-09”). This update supersedes most of the current revenue recognition requirements. The core principle of the new guidance is that an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. New disclosures about the nature, amount, timing and uncertainty of revenue and cash flows arising from contracts with customers are also required. This guidance was effective for fiscal years and interim periods beginning after December 15, 2016 and early application was not permitted. However on July 9, 2015, the FASB decided to delay the effective date by one year. The deferral results in the new revenue standard being effective for fiscal years and interim periods beginning after December 15, 2017. The FASB also decided to allow early adoption but no earlier than the original effective date of December 15, 2016. Entities must adopt the new guidance using one of two retrospective application methods. The Company is currently evaluating the standard to determine the impact of its adoption on the Consolidated Financial Statements. No other new accounting pronouncements issued or effective during 2015 had or are expected to have a material impact on the Company’s Consolidated Financial Statements.

Leasing Activity

Leasing Activity	6 Months Ended
	Jun. 30, 2015
Leasing Activity
Leasing Activity	2. Leasing Activity Equipment Leasing Revenue The Company has non-cancelable operating leases for certain of its leasing equipment. At June 30, 2015, future minimum lease revenue under these agreements is estimated as follows: 2015 $ 2016 2017 2018 2019 Thereafter $ Finance Revenue At June 30, 2015, receivables under direct finance leases are collectible through 2022 as follows: Total Lease Receivables Unearned Lease Income Net Lease Receivables 2015 $ $ $ 2016 2017 2018 2019 Thereafter $ $ $ As of December 31, 2014, the Company had total lease receivables, unearned lease income and net lease receivables of $19,271, $3,056 and $16,215, respectively. As of June 30, 2015 and December 31, 2014, the Company had guaranteed and unguaranteed residual values for leasing equipment on direct finance leases of $8,773 and $8,778, 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, and present certain claims to its insurers of default losses.

Leasing Equipment

Leasing Equipment	6 Months Ended
	Jun. 30, 2015
Leasing Equipment
Leasing Equipment	3. Leasing Equipment The following is a summary of leasing equipment recorded on the Consolidated Balance Sheets: June 30, December 31, 2015 2014 Total leasing equipment $ $ Less accumulated depreciation ) ) Leasing equipment, net of accumulated depreciation $ $ Leasing equipment includes assets recorded under capital leases of $149,093 and $182,688 with accumulated depreciation of $48,457 and $53,016 at June 30, 2015 and December 31, 2014, respectively. Impairment of Leasing Equipment Impairment of leasing equipment amounted to $2,569 and $4,002 for the three and six months ended June 30, 2015, respectively. This compares to $1,191 and $2,317 for the three and six months ended June 30, 2014, respectively. The increase in impairment charges reflected during 2015 was primarily due to estimated provisions associated with axle sets anticipated to be unsuitable for the remanufacturing program and estimated shrinkage of certain chassis in our marine pools. The above impairment charges are recorded in Impairment of leasing equipment in the Consolidated Statements of Operations. 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 second quarter of 2014, whereby chassis owned or leased by the shipping line were sold or returned to the Company to be managed in its marine chassis pools. Having bid on and being awarded such deals had 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 and quality 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 were 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	6 Months Ended
	Jun. 30, 2015
Capitalized Software Development Costs
Capitalized Software Development Costs	4. Capitalized Software Development Costs In 2014, the Company’s Investment Committee approved the proposal to replace its principal operating and financial reporting systems, named “Project Helix” to provide more functional capabilities necessitated by new business requirements emerging from the industry shift to the motor carrier model. In conjunction with application development efforts during the six months ended June 30, 2015, the Company capitalized $5,369 of eligible costs in accordance with ASC 350-40, Internal-Use Software. These costs are included in Other assets in the Consolidated Balance Sheet. Once the software is substantially complete and ready for its intended use, capitalization will cease. Capitalized software costs will be amortized on a straight-line basis over seven years, the estimated useful life of the software.

Borrowings

Borrowings	6 Months Ended
	Jun. 30, 2015
Borrowings
Borrowings	5. Borrowings The following is a summary of the Company’s borrowings: June 30, December 31, 2015 2014 Senior Secured 11% Notes $ $ ABL Facility Loans Payable CIMC Capital lease obligations Total debt Less current maturities ) ) Long-term debt, less current maturities $ $ The Company’s debt consisted of notes, loans and capital lease obligations payable in varying amounts through 2021, with a weighted-average interest rate of 5.78% for the year ended December 31, 2014. For the six months ended June 30, 2015 and 2014, the weighted-average interest rate was 5.78% and 5.89%, respectively. The weighted-average interest rates disclosed are calculated as “all-in” rates which include cash interest expense and amortization of agents’ fees and deferred financing fees. On February 28, 2015, the Company exercised a purchase option from a maturing capital lease for an aggregate price of $11,806.

Derivatives and Hedging Activit

Derivatives and Hedging Activities	6 Months Ended
	Jun. 30, 2015
Derivatives and Hedging Activities
Derivatives and Hedging Activities	6. Derivatives and Hedging Activities In the normal course of business, the Company utilizes interest rate derivatives to manage its exposure to interest rate risks. Through the utilization of 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. If certain conditions are met, an interest rate derivative may be specifically designated as a cash flow hedge. The Company’s interest rate derivative qualifies and has been designated as a cash flow hedge. For the effective portion of the derivative gain or loss, changes in fair value are recorded in Accumulated other comprehensive income and subsequently reclassified into earnings when the interest payments on the debt are recorded in earnings. The ineffective portion of the derivative gain or loss is recorded in Interest expense in the Consolidated Statements of Operations. On January 10, 2013, the Company entered into an interest rate swap transaction with Deutsche Bank AG effectively converting $300,000 of variable rate debt based upon LIBOR into a fixed rate instrument. The Company receives one month LIBOR with interest payable at a rate of 0.756% on the notional amount. At June 30, 2015, one month LIBOR was 0.186%. The agreement terminates on August 9, 2017, in line with the termination date of the ABL Facility. The Company’s interest rate derivative involves counterparty credit risk. As of June 30, 2015, the Company does not anticipate its counterparty will fail to meet its obligation. As of June 30, 2015, there are no credit risk related contingent features in the Company’s derivative agreement. For additional disclosures related to derivative instruments, see Notes 9 and 13 to the Consolidated Financial Statements. The Company held the following interest rate derivative as of June 30, 2015: Notional Effective Maturity Floating Fixed Leg Fair Hedged Item Amount Date Date Rate Interest Rate Value Gain(a) ABL Facility $ Jan-2013 Aug-2017 1M LIBOR % $ (a) This interest rate derivative is recorded in Other Assets in the Consolidated Balance Sheets. At the dates indicated, the Company had in place total interest rate derivatives to fix floating interest rates on a portion of the borrowings under its debt facilities as summarized below: Total Current Notional Amount Weighted-Average Fixed Leg Interest Rate Weighted-Average Remaining Term June 30, 2015 $ % 2.03 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 periods indicated: Effective Portion Ineffective Portion Derivative Instruments Change in Unrealized Loss Recognized in OCI on Derivatives (a) Classification of Loss Reclassified from OCI into Income Loss Reclassified from OCI into Income (b) Classification of Loss Recognized Directly in Income on Derivative (Gain) Loss Recognized Directly in Income on Derivative (c) Three Months ended June 30, 2015 Interest rate derivatives $ ) Interest expense $ Interest expense $ ) Six Months ended June 30, 2015 Interest rate derivatives $ ) Interest expense $ Interest expense $ ) Three Months ended June 30, 2014 Interest rate derivatives $ ) Interest expense $ Interest expense $ ) Six Months ended June 30, 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 derivative, net of tax. Three Months Ended Six Months Ended June 30, June 30, 2015 2014 2015 2014 Net settlements of interest rate derivative, net of tax of ($174), ($181), ($348) and ($358), respectively $ $ $ $ Amortization of terminated derivatives, net of tax of ($2,007), ($1,729), ($4,130) and ($3,543), respectively $ $ $ $ (c) Amount impacting income not related to AOCI 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 three and six months ended June 30, 2015 and 2014: Amount of Amount of Deferred Deferred (Gain)Loss (Gain)Loss Amount Amortized Amortized of Deferred (including (including (Gain) Loss Un- Accelerated Accelerated Expected amortized Amortization) Amortization) to be Deferred Into Interest Into Interest Amortized Original Deferred (Gain) or Expense for the Expense for the Over Maximum Termination Loss Loss at Three Months Six Months the Next Notional Effective Maturity Fixed De-designation Upon June 30, Ended June 30, Ended June 30 Twelve Item Amount Date Date Rate % Date Termination 2015 2015 2014 2015 2014 Months (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 active interest rate derivatives in the amount of $721 (which is net of tax of $467) and amortization of deferred losses on the Company’s terminated derivatives of $11,063 (which is net of tax of $7,154).

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Jun. 30, 2015
Commitments and Contingencies
Commitments and Contingencies	7. Commitments and Contingencies Purchase Commitments Our current chassis purchase commitments are related to commitments to refurbish and remanufacture chassis. At June 30, 2015, the Company had commitments totaling approximately $28,701, all of which was committed for 2015. 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. As of June 30, 2015, the aggregate minimum rental commitment under operating leases having initial or remaining non-cancelable lease terms in excess of one year was $45,884.

Income Taxes

Income Taxes	6 Months Ended
	Jun. 30, 2015
Income Taxes
Income Taxes	8. Income Taxes The consolidated income tax provision (benefit) for the three and six months ended June, 30, 2015 and 2014 was determined based upon estimates of the Company’s consolidated forecasted effective income tax rates for the years ended December 31, 2015 and 2014, respectively. For the three months ended June 30, 2015, the Company recorded a tax provision of $5,054, reflecting a 39.6% effective tax rate. This compares to a tax benefit of $12,042, reflecting a 35.6% effective tax rate for the three months ended June 30, 2014. For the six months ended June 30, 2015, the Company recorded a tax provision of $12,434, reflecting a 38.5% effective tax rate. This compares to a tax benefit of $8,186, reflecting a 33.5% effective tax rate for the six months ended June 30, 2014. The Company’s effective tax rate differs from the U.S. federal tax rate of 35% primarily due to Canadian and Mexican tax provisions.

Accumulated Other Comprehensive

Accumulated Other Comprehensive Loss	6 Months Ended
	Jun. 30, 2015
Accumulated Other Comprehensive Loss
Accumulated Other Comprehensive Loss	9. 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. For the six months ended June 30, 2015, the components of AOCI, net of tax, are as follows: Unrealized Gain (Loss) on Derivative Instruments Net Derivative Loss to be Reclassified into Earnings Foreign Currency Translation Total Accumulated Other Comprehensive Loss Balance, December 31, 2014 $ $ ) $ ) $ ) Current-period other comprehensive (loss) income ) ) Balance, June 30, 2015 $ $ ) $ ) $ ) The following table presents the effects of reclassifications out of AOCI and into the Consolidated Statement of Operations for the periods indicated: Income Statement Line Item Three Months Ended June 30, 2015 Six Months Ended June 30, 2015 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 $ $ Income Statement Line Item Three Months Ended June 30, 2014 Six Months Ended June 30, 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 Payment

Share-Based Payment	6 Months Ended
	Jun. 30, 2015
Share-Based Payment
Share-Based Payment	10. Share-Based Payment A summary of the restricted shares of SCT Chassis, Inc. 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- Average Grant Date Fair Value per share Fair Value of Shares at Grant Date Non-vested at January 1, 2015 $ $ Granted Forfeited — — — Vested ) ) Non-vested at June 30, 2015 $ $ During the six months ended June 30, 2015, 63,963 restricted shares of SCT Chassis, Inc. were granted to key employees at a weighted average fair value of $10.52 per share for a total fair value of $673. Of these shares, 14,702 shares vested immediately with the remaining 49,261 shares vesting in equal increments on January 1, 2016, 2017, 2018 and 2019. The Company recorded share-based compensation expense for the three and six months ended June 30, 2015 of $102 and $349, respectively. This compares to compensation expense of $218 and $436, respectively, for the three and six months ended June 30, 2014. 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 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. Total unrecognized compensation expense was approximately $754 at June 30, 2015, which is expected to be recognized over the remaining weighted-average vesting period of 2.0 years. The Management Shareholder Agreements also provide for additional grants of 1,096,954 restricted shares upon the achievement of certain performance conditions or a certain market condition following a liquidity event. No compensation expense has been recorded related to these shares since achievement of these conditions is not considered probable. Share Repurchases There were no share repurchases during the six months ended June 30, 2015.

Segment and Geographic Informat

Segment and Geographic Information	6 Months Ended
	Jun. 30, 2015
Segment and Geographic Information
Segment and Geographic Information	11. Segment and Geographic Information The Company’s 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 provides such services to its customers through two operating and reportable segments, the Marine Market segment and the Domestic Market segment. The reportable segments are based on the chassis markets that are served by the Company. The Company evaluates segment performance and allocates resources to them primarily based upon Adjusted EBITDA. The Company defines Adjusted 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), interest income, non-cash share-based compensation and principal collections on direct finance leases. Adjusted EBITDA is not a measure recognized under U.S. GAAP and does not have a standardized meaning prescribed by U.S. GAAP and is therefore unlikely to be comparable to similar measures presented by other companies. 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 three months ended June 30, 2015 and 2014. Three Months ended June 30, 2015 Marine Market segment Domestic Market segment Other Total Term revenue $ $ $ — $ Pool revenue — All other revenue Total revenue $ $ $ $ Adjusted EBITDA ) Depreciation expense Net investment in direct finance leases — Leasing equipment Capital expenditures for long-lived assets Three Months ended June 30, 2014 Marine Market segment Domestic Market segment Other Total Term revenue $ $ $ — $ Pool revenue — All other revenue Total revenue $ $ $ $ Adjusted EBITDA ) Depreciation expense Net investment in direct finance leases — Leasing equipment Capital expenditures for long-lived assets The following tables show segment information for the six months ended June 30, 2015 and 2014: Six Months ended June 30, 2015 Marine Market segment Domestic Market segment Other Total Term revenue $ $ $ — $ Pool revenue — All other revenue Total revenue $ $ $ $ Adjusted EBITDA ) Depreciation expense Net investment in direct finance leases — Leasing equipment Capital expenditures for long-lived assets Six Months ended June 30, 2014 Marine Market segment Domestic Market segment Other Total Term revenue $ $ $ — $ Pool revenue — All other revenue Total revenue $ $ $ $ Adjusted EBITDA ) Depreciation expense Net investment in direct finance leases — Leasing equipment Capital expenditures for long-lived assets The following are reconciliations of Adjusted EBITDA to the Company’s net income (loss) for the three months ended June 30, 2015 and 2014. Three Months Ended June 30, 2015 2014 Adjusted EBITDA $ $ Principal collections on direct finance leases, net of interest earned ) ) Non-cash share-based compensation ) ) Interest expense ) ) Depreciation expense ) ) Impairment of leasing equipment ) ) Early retirement of leasing equipment — ) Loss on modification and extinguishment of debt and capital lease obligations — ) Other income, net Interest income — Income (loss) before provision (benefit) for income taxes ) Provision (benefit) for income taxes ) Net income (loss) $ $ ) The following are reconciliations of Adjusted EBITDA to the Company’s net income (loss) for the six months ended June 30, 2015 and 2014. Six Months Ended June 30, 2015 2014 Adjusted EBITDA $ $ Principal collections on direct finance leases, net of interest earned ) ) Non-cash share-based compensation ) ) Interest expense ) ) Depreciation expense ) ) Impairment of leasing equipment ) ) Early retirement of leasing equipment — ) Loss on modification and extinguishment of debt and capital lease obligations ) ) Other income, net Interest income Income (loss) before provision (benefit) for income taxes ) Provision (benefit) for income taxes ) Net income (loss) $ $ ) Geographic Information Primarily all of the Company’s revenues and long lived assets are attributable to the United States, the Company’s country of domicile.

Related Party Transactions

Related Party Transactions	6 Months Ended
	Jun. 30, 2015
Related Party Transactions
Related Party Transactions	12. Related Party Transactions Management Fees and Chassis Leasing The Company charges management fees to a subsidiary of Seacastle for expenses incurred and services performed on its behalf. For the three and six months ended June 30, 2015, the above activity resulted in income for the Company of $31 and $62, respectively. This compares to income of $25 and $49 for the three and six months ended June 30, 2014. These amounts are included in Selling, general and administrative expenses on the Consolidated Statements of Operations. The Company has a net receivable from affiliates of $611 and $705 at June 30, 2015 and December 31, 2014, respectively, which is included in Other assets on the Consolidated Balance Sheets. The Company also leases chassis to the Florida East Coast Railway (“FEC”) under term lease and pool arrangements. The parent company to the FEC is Florida East Coast Industries, Inc., which is owned by private equity funds managed by affiliates of Fortress. For the three and six months ended June 30, 2015, the Company recorded chassis leasing revenue from FEC of $564 and $1,073, respectively. This compares to chassis leasing revenue of $407 and $777, respectively, for the three and six months ended June 30, 2014. These amounts are recorded in Equipment leasing revenue on the Consolidated Statements of Operations. Due from Employees During the first quarter of 2015, the Company recorded a receivable from certain key employees of $543 for payroll taxes paid on their behalf by the Company related to the vesting of their restricted stock grants. The receivable is included in Other assets in the Consolidated Balance Sheet. Settlement is anticipated on or before December 31, 2015.

Fair Value of Financial Instrum

Fair Value of Financial Instruments	6 Months Ended
	Jun. 30, 2015
Fair Value of Financial Instruments
Fair Value of Financial Instruments	13. Fair Value of Financial Instruments The following table sets forth the valuation of the Company’s financial assets and liabilities measured at fair value on a recurring basis by the input levels (as defined) at the dates indicated: Fair Value as of June 30, Fair Value Measurement as of June 30, 2015 using Fair Value Hierarchy 2015 Level 1 Level 2 Level 3 Assets: Cash and cash equivalents $ $ $ — $ — Derivative instruments — — Fair Value as of December 31, Fair Value Measurement as of December 31, 2014 using Fair Value Hierarchy 2014 Level 1 Level 2 Level 3 Assets: Cash and cash equivalents $ $ $ — $ — Derivative instruments — — Cash and cash equivalents: Cash and cash equivalents include all cash balances and highly liquid investments having original maturities of three months or less at the time of purchase. These instruments are stated at cost, which approximates market value because of the short-term nature of the instruments. Derivative instruments: The Company’s interest rate derivatives were recorded at fair value on the Company’s Consolidated Balance Sheets and consist 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 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 embedded derivative is immaterial to the Consolidated Financial Statements, and will continue to reassess the fair value of this derivative prospectively with any changes recorded in earnings. Leasing equipment that is deemed to be impaired is measured at fair value on a non-recurring basis. The fair value is calculated using the income approach based on inputs classified as Level 2 in the fair value hierarchy. The Company believes the carrying amounts of cash and cash equivalents, accounts receivable, accounts payable and accrued expenses and other liabilities approximates the fair value of these financial instruments because of their short-term nature. Debt: The Company’s debt consists of fixed and floating rate instruments. Variable interest rate debt was $429,880 as of June 30, 2015 and $479,334 as of December 31, 2014. Accordingly, the Company’s variable rate debt approximates market value for similar instruments at the respective dates. The Company had fixed rate debt of $666,497 as of June 30, 2015 and $684,888 as of December 31, 2014. Fair value was calculated based on inputs classified as Level 2 in the fair value hierarchy. The carrying amounts and fair values of the Company’s financial instruments are as follows: June 30, 2015 December 31, 2014 Carrying Amount of Asset (Liability) Fair Value of Asset (Liability) Carrying Amount of Asset (Liability) Fair Value of Asset (Liability) Derivative Instrument $ $ $ $ Total debt and capital lease obligations $ ) $ ) $ ) $ )

Guarantor Financial Information

Guarantor Financial Information	6 Months Ended
	Jun. 30, 2015
Guarantor Financial Information
Guarantor Financial Information	14. Guarantor Financial Information On August 9, 2012, TRAC Intermodal LLC along with TRAC Intermodal Corp., entered into a purchase agreement pursuant to which it sold $300,000 aggregate principal amount of the Notes. Concurrent with the offering of the Notes, the Company entered into a registration rights agreement with investors which required the Company to file a registration statement with the SEC to offer exchange notes with terms substantially identical to the Notes. The exchange offer to exchange the Notes for notes which have been registered under the Securities Act of 1933, as amended (the “Securities Act”), commenced on June 6, 2013, expired on July 5, 2013 and closed on July 10, 2013. Based on information provided by Wells Fargo Bank, N.A., the exchange agent for the exchange offer, as of the expiration date 100% of the Notes were validly tendered for exchange. The Notes are jointly and severally guaranteed unconditionally on a senior secured basis by all of the Company’s existing and future wholly-owned domestic subsidiaries, with certain exceptions. All guarantor subsidiaries are 100% owned by the Company. TRAC Intermodal LLC Condensed Consolidating Balance Sheet June 30, 2015 Company Parent Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Consolidated Assets Cash and cash equivalents $ — $ $ $ — $ Accounts receivable, net — — Net investment in direct finance leases — — ) Leasing equipment, net of accumulated depreciation — — Goodwill — — — Affiliate and intercompany receivable — — — Intercompany interest receivable — — ) — Intercompany note receivable — — ) — Investment in subsidiary — ) — Other assets — — Total assets $ $ $ $ ) $ Liabilities 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 — — Total liabilities ) Total member’s interest ) Total liabilities and member’s interest $ $ $ $ ) $ TRAC Intermodal LLC Condensed Consolidating Statements of Operations and Comprehensive Income For The Three Months Ended June 30, 2015 Company Parent Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Consolidated Total revenue $ — $ $ $ ) $ Direct operating expenses — — Selling, general and administrative expenses — — Depreciation expense — — Provision for doubtful accounts — — — Impairment of leasing equipment — — — Interest expense ) Interest income ) — — — Equity in earnings of subsidiary ) ) — — Other income, net — ) ) — ) Total (income) expense ) Income before provision for income taxes ) Provision for income taxes — — Net income ) Unrealized loss on derivative instruments, net of tax of $8 — ) — — ) Derivative loss reclassified into earnings, net of tax of ($2,007) — — — Foreign currency translation gain, net of tax of $(32) — — — Total other comprehensive income — — — Total comprehensive income $ $ $ $ ) $ TRAC Intermodal LLC Condensed Consolidating Statements of Operations and Comprehensive Income For The Six Months Ended June 30, 2015 Company Parent Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Consolidated Total revenue $ — $ $ $ ) $ Direct operating expenses — — Selling, general and administrative expenses — — Depreciation expense — — Provision for doubtful accounts — — — Impairment of leasing equipment — — — Loss on modification and extinguishment of debt and capital lease obligations — — — Interest expense ) Interest income ) ) — ) Equity in earnings of subsidiary ) ) — — Other income, net — ) ) — ) Total (income) expense ) Income before provision for income taxes ) Provision for income taxes — — Net income ) Unrealized loss on derivative instruments, net of tax of $712 — ) — — ) Derivative loss reclassified into earnings, net of tax of ($4,130) — — — Foreign currency translation loss, net of tax of $205 — ) — — ) Total other comprehensive income — — — Total comprehensive income $ $ $ $ ) $ TRAC Intermodal LLC Condensed Consolidating Statement of Cash Flows For The Six Months Ended June 30, 2015 Company Parent Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Consolidated Net cash provided by (used in) operating activities $ — $ $ ) $ $ Investing activities: Proceeds from sale of leasing equipment — — — Collections on net investment in direct finance leases, net of interest earned — — ) Purchase of leasing equipment — ) — — ) Purchase of fixed assets — ) — — ) Net cash used in investing activities — ) — ) ) Financing activities: Proceeds from long-term debt — — — Repayments of long-term debt — ) — — ) Repurchase of indirect parent shares from employees — — — — — Net cash used in financing activities — ) — — ) Effect of changes in exchange rates on cash and cash equivalents — ) — — ) Net decrease in cash and cash equivalents — ) ) — ) Cash and cash equivalents, beginning of period — — Cash and cash equivalents, end of period $ — $ $ $ — $ TRAC Intermodal LLC Condensed Consolidating Balance Sheet December 31, 2014 Company Parent Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Consolidated Assets Cash and cash equivalents $ — $ $ $ — $ Accounts receivable, net — — Net investment in direct finance leases — — ) Leasing equipment, net of accumulated depreciation — — Goodwill — — — Affiliate and intercompany receivable — ) Intercompany interest receivable — — ) — Intercompany note receivable — — ) — Investment in subsidiary — ) — Other assets — — Total assets $ $ $ $ ) $ Liabilities 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 — — Total liabilities ) Total member’s interest ) Total liabilities and member’s interest $ $ $ $ ) $ TRAC Intermodal LLC Condensed Consolidating Statements of Operations and Comprehensive (Loss) Income For The Three Months Ended June 30, 2014 Company Parent Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Consolidated Total revenue $ — $ $ $ ) $ Direct operating expenses — — Selling, general and administrative expenses — — Depreciation expense — — Provision for doubtful accounts — — — Impairment of leasing equipment — — — Early retirement of leasing equipment — — — Loss on modification and extinguishment of debt and capital lease obligations — — — Interest expense ) Interest income ) ) — ) Equity in earnings of subsidiary ) — ) — Other income, net — ) — ) Total expense ) (Loss) income before (benefit) provision for income taxes ) ) ) (Benefit) provision for income taxes — ) — ) Net (loss) income ) ) ) Unrealized loss on derivative instruments, net of tax of $612 — ) — — ) Derivative loss reclassified into earnings, net of tax of ($1,729) — — — Foreign currency translation loss, net of tax of $(95) — — — Total other comprehensive income — — — Total comprehensive (loss) income $ ) $ ) $ $ $ ) TRAC Intermodal LLC Condensed Consolidating Statements of Operations and Comprehensive (Loss) Income For The Six Months Ended June 30, 2014 Company Parent Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Consolidated Total revenue $ — $ $ $ ) $ Direct operating expenses — — Selling, general and administrative expenses — — Depreciation expense — — Provision for doubtful accounts — — — Impairment of leasing equipment — — — Early retirement of leasing equipment — — — Loss on modification and extinguishment of debt and capital lease obligations — — — Interest expense ) Interest income ) ) — ) Equity in earnings of subsidiary ) — ) — Other income, net — ) — ) Total expense ) (Loss) income before (benefit) provision for income taxes ) ) ) (Benefit) provision for income taxes — ) — ) Net (loss) income ) ) ) Unrealized loss on derivative instruments, net of tax of $701 — ) — — ) Derivative loss reclassified into earnings, net of tax of ($3,543) — — — Foreign currency translation loss, net of tax of $35 — ) — — ) Total other comprehensive income — — — Total comprehensive (loss) income $ ) $ ) $ $ $ ) TRAC Intermodal LLC Condensed Consolidating Statement of Cash Flows For The Six Months Ended June 30, 2014 Company Parent Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Consolidated Net cash provided by operating activities $ — $ $ $ $ Investing activities: Proceeds from sale of leasing equipment — — — Collections on net investment in direct finance leases, net of interest earned — — ) Purchase of leasing equipment — ) — — ) Purchase of fixed assets — ) — — ) Net cash used in investing activities — ) — ) ) Financing activities: Proceeds from long-term debt — — — Repayments of long-term debt — ) — — ) Cash paid for debt issuance fees — ) — — ) Repurchase of indirect parent shares from employees — ) — — ) Net cash provided by 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 $ — $ $ $ — $

Subsequent Events

Subsequent Events	6 Months Ended
	Jun. 30, 2015
Subsequent Events
Subsequent Events	15. Subsequent Events On July 15, 2015, 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 $150,000 in aggregate principal amount of the outstanding Notes. The Notes are called for redemption on August 15, 2015 at a redemption price equal to 108.250 percent of the principal amount. Additionally, approximately $3,058 of deferred financing fees related to these notes will be expensed upon redemption. The Company intends to fund the redemption amount by borrowing on its ABL Facility. On August 7, 2015, Interpool, Inc. (“Interpool”), a wholly owned subsidiary of the Company, closed on the sale of the building that previously served as its corporate headquarters at 211 College Road East, Princeton, New Jersey and received $2,300 in proceeds, less brokerage fees and other standard adjustments. On August 11, 2015, Interpool entered into Amendment No. 3 (the “Third Amendment”) to Interpool’s existing asset backed credit agreement, dated as of August 9, 2012 (the “Credit Agreement”) among the loan parties listed therein, the lenders named therein and the JPMorgan Chase Bank, N.A., as Administrative Agent (the “Administrative Agent”). Pursuant to the Third Amendment, 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 the Third Amendment, the aggregate total revolving commitment under the ABL Facility was also increased from $1,250,000 to $1,400,000. In addition, on August 11, 2015, Interpool entered into an incremental facility amendment (the “Incremental Amendment”) to the Credit Agreement. Pursuant to the 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 Incremental Amendment, the aggregate total revolving commitment of the existing lenders under the Credit Agreement is $1,300,000. The Company incurred approximately $749 in commitment, arrangement and other fees in connection with the Third Amendment and the Incremental Amendment. These fees will be classified as deferred financing fees and will be amortized into interest expense over the remaining term of the ABL Facility. On July 14, 2015, Interpool entered into an Incentive Agreement with the New Jersey Economic Development Authority which agreement, among other things, approved the application of Interpool to receive an award of a “Grow NJ Tax Credit” for up to $9,800 in tax credits over a 10-year period subject to Interpool satisfying certain covenants and conditions including retaining and adding new jobs in New Jersey. The Company has evaluated all significant activities through the time of filing these financial statements with the SEC and has concluded that no additional subsequent events have occurred that would require recognition in the Consolidated Financial Statements or disclosure in the notes to the Consolidated Financial Statements.

Leasing Activity (Tables)

Leasing Activity (Tables)	6 Months Ended
	Jun. 30, 2015
Leasing Activity
Schedule of the estimated future minimum lease revenue	2015 $ 2016 2017 2018 2019 Thereafter $
Schedule of receivables under direct finance leases collectible through 2022	Total Lease Receivables Unearned Lease Income Net Lease Receivables 2015 $ $ $ 2016 2017 2018 2019 Thereafter $ $ $

Leasing Equipment (Tables)

Leasing Equipment (Tables)	6 Months Ended
	Jun. 30, 2015
Leasing Equipment
Summary of leasing equipment	June 30, December 31, 2015 2014 Total leasing equipment $ $ Less accumulated depreciation ) ) Leasing equipment, net of accumulated depreciation $ $

Borrowings (Tables)

Borrowings (Tables)	6 Months Ended
	Jun. 30, 2015
Borrowings
Summary of the Company's borrowings	June 30, December 31, 2015 2014 Senior Secured 11% Notes $ $ ABL Facility Loans Payable CIMC Capital lease obligations Total debt Less current maturities ) ) Long-term debt, less current maturities $ $

Derivatives and Hedging Activ26

Derivatives and Hedging Activities (Tables)	6 Months Ended
	Jun. 30, 2015
Derivatives and Hedging Activities
Schedule of interest rate derivative designated as a cash flow hedge	Notional Effective Maturity Floating Fixed Leg Fair Hedged Item Amount Date Date Rate Interest Rate Value Gain(a) ABL Facility $ Jan-2013 Aug-2017 1M LIBOR % $ (a) This interest rate derivative is recorded in Other Assets in the Consolidated Balance Sheets.
Schedule of total interest rate derivatives to fix floating interest rates on a portion of the borrowings under debt facilities	Total Current Notional Amount Weighted-Average Fixed Leg Interest Rate Weighted-Average Remaining Term June 30, 2015 $ % 2.03 years December 31, 2014 $ % 2.53 years
Schedule of the net of tax effect of the Company's cash flow hedge derivative instruments	Effective Portion Ineffective Portion Derivative Instruments Change in Unrealized Loss Recognized in OCI on Derivatives (a) Classification of Loss Reclassified from OCI into Income Loss Reclassified from OCI into Income (b) Classification of Loss Recognized Directly in Income on Derivative (Gain) Loss Recognized Directly in Income on Derivative (c) Three Months ended June 30, 2015 Interest rate derivatives $ ) Interest expense $ Interest expense $ ) Six Months ended June 30, 2015 Interest rate derivatives $ ) Interest expense $ Interest expense $ ) Three Months ended June 30, 2014 Interest rate derivatives $ ) Interest expense $ Interest expense $ ) Six Months ended June 30, 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 derivative, net of tax. Three Months Ended Six Months Ended June 30, June 30, 2015 2014 2015 2014 Net settlements of interest rate derivative, net of tax of ($174), ($181), ($348) and ($358), respectively $ $ $ $ Amortization of terminated derivatives, net of tax of ($2,007), ($1,729), ($4,130) and ($3,543), respectively $ $ $ $ (c) Amount impacting income not related to AOCI reclassification.
Schedule of the amount of actual cash paid, net of tax, related to the net settlements of the interest rate derivatives plus any effective amortization of deferred losses on the Company's terminated derivatives, net of tax	Three Months Ended Six Months Ended June 30, June 30, 2015 2014 2015 2014 Net settlements of interest rate derivative, net of tax of ($174), ($181), ($348) and ($358), respectively $ $ $ $ Amortization of terminated derivatives, net of tax of ($2,007), ($1,729), ($4,130) and ($3,543), respectively $ $ $ $
Summary of deferred (gains) and losses for the terminated interest rate derivatives and the related amortization into interest expense	Amount of Amount of Deferred Deferred (Gain)Loss (Gain)Loss Amount Amortized Amortized of Deferred (including (including (Gain) Loss Un- Accelerated Accelerated Expected amortized Amortization) Amortization) to be Deferred Into Interest Into Interest Amortized Original Deferred (Gain) or Expense for the Expense for the Over Maximum Termination Loss Loss at Three Months Six Months the Next Notional Effective Maturity Fixed De-designation Upon June 30, Ended June 30, Ended June 30 Twelve Item Amount Date Date Rate % Date Termination 2015 2015 2014 2015 2014 Months (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

Accumulated Other Comprehensi27

Accumulated Other Comprehensive Loss (Tables)	6 Months Ended
	Jun. 30, 2015
Accumulated Other Comprehensive Loss
Schedule of the components of AOCI, net of tax	Unrealized Gain (Loss) on Derivative Instruments Net Derivative Loss to be Reclassified into Earnings Foreign Currency Translation Total Accumulated Other Comprehensive Loss Balance, December 31, 2014 $ $ ) $ ) $ ) Current-period other comprehensive (loss) income ) ) Balance, June 30, 2015 $ $ ) $ ) $ )
Schedule of the effects of reclassifications out of AOCI and into the Consolidated Statements of Operations	Income Statement Line Item Three Months Ended June 30, 2015 Six Months Ended June 30, 2015 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 $ $ Income Statement Line Item Three Months Ended June 30, 2014 Six Months Ended June 30, 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 Payment (Tables)

Share-Based Payment (Tables)	6 Months Ended
	Jun. 30, 2015
Share-Based Payment
Summary of the restricted shares of SCT Chassis, Inc.	Non-vested Shares Shares Weighted- Average Grant Date Fair Value per share Fair Value of Shares at Grant Date Non-vested at January 1, 2015 $ $ Granted Forfeited — — — Vested ) ) Non-vested at June 30, 2015 $ $

Segment and Geographic Inform29

Segment and Geographic Information (Tables)	6 Months Ended
	Jun. 30, 2015
Segment and Geographic Information
Schedule of segment information	Three Months ended June 30, 2015 Marine Market segment Domestic Market segment Other Total Term revenue $ $ $ — $ Pool revenue — All other revenue Total revenue $ $ $ $ Adjusted EBITDA ) Depreciation expense Net investment in direct finance leases — Leasing equipment Capital expenditures for long-lived assets Three Months ended June 30, 2014 Marine Market segment Domestic Market segment Other Total Term revenue $ $ $ — $ Pool revenue — All other revenue Total revenue $ $ $ $ Adjusted EBITDA ) Depreciation expense Net investment in direct finance leases — Leasing equipment Capital expenditures for long-lived assets Six Months ended June 30, 2015 Marine Market segment Domestic Market segment Other Total Term revenue $ $ $ — $ Pool revenue — All other revenue Total revenue $ $ $ $ Adjusted EBITDA ) Depreciation expense Net investment in direct finance leases — Leasing equipment Capital expenditures for long-lived assets Six Months ended June 30, 2014 Marine Market segment Domestic Market segment Other Total Term revenue $ $ $ — $ Pool revenue — All other revenue Total revenue $ $ $ $ Adjusted EBITDA ) Depreciation expense Net investment in direct finance leases — Leasing equipment Capital expenditures for long-lived assets
Schedule of reconciliations of Adjusted EBITDA to the Company's net loss	Three Months Ended June 30, 2015 2014 Adjusted EBITDA $ $ Principal collections on direct finance leases, net of interest earned ) ) Non-cash share-based compensation ) ) Interest expense ) ) Depreciation expense ) ) Impairment of leasing equipment ) ) Early retirement of leasing equipment — ) Loss on modification and extinguishment of debt and capital lease obligations — ) Other income, net Interest income — Income (loss) before provision (benefit) for income taxes ) Provision (benefit) for income taxes ) Net income (loss) $ $ ) Six Months Ended June 30, 2015 2014 Adjusted EBITDA $ $ Principal collections on direct finance leases, net of interest earned ) ) Non-cash share-based compensation ) ) Interest expense ) ) Depreciation expense ) ) Impairment of leasing equipment ) ) Early retirement of leasing equipment — ) Loss on modification and extinguishment of debt and capital lease obligations ) ) Other income, net Interest income Income (loss) before provision (benefit) for income taxes ) Provision (benefit) for income taxes ) Net income (loss) $ $ )

Fair Value of Financial Instr30

Fair Value of Financial Instruments (Tables)	6 Months Ended
	Jun. 30, 2015
Fair Value of Financial Instruments
Schedule of valuation of the Company's financial assets and liabilities measured at fair value on a recurring basis	Fair Value as of June 30, Fair Value Measurement as of June 30, 2015 using Fair Value Hierarchy 2015 Level 1 Level 2 Level 3 Assets: Cash and cash equivalents $ $ $ — $ — Derivative instruments — — Fair Value as of December 31, Fair Value Measurement as of December 31, 2014 using Fair Value Hierarchy 2014 Level 1 Level 2 Level 3 Assets: Cash and cash equivalents $ $ $ — $ — Derivative instruments — —
Schedule of carrying amounts and fair values of the Company's financial instruments	June 30, 2015 December 31, 2014 Carrying Amount of Asset (Liability) Fair Value of Asset (Liability) Carrying Amount of Asset (Liability) Fair Value of Asset (Liability) Derivative Instrument $ $ $ $ Total debt and capital lease obligations $ ) $ ) $ ) $ )

Guarantor Financial Informati31

Guarantor Financial Information (Tables)	6 Months Ended
	Jun. 30, 2015
Guarantor Financial Information
Condensed Consolidating Balance Sheet	Condensed Consolidating Balance Sheet June 30, 2015 Company Parent Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Consolidated Assets Cash and cash equivalents $ — $ $ $ — $ Accounts receivable, net — — Net investment in direct finance leases — — ) Leasing equipment, net of accumulated depreciation — — Goodwill — — — Affiliate and intercompany receivable — — — Intercompany interest receivable — — ) — Intercompany note receivable — — ) — Investment in subsidiary — ) — Other assets — — Total assets $ $ $ $ ) $ Liabilities 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 — — Total liabilities ) Total member’s interest ) Total liabilities and member’s interest $ $ $ $ ) $ Condensed Consolidating Balance Sheet December 31, 2014 Company Parent Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Consolidated Assets Cash and cash equivalents $ — $ $ $ — $ Accounts receivable, net — — Net investment in direct finance leases — — ) Leasing equipment, net of accumulated depreciation — — Goodwill — — — Affiliate and intercompany receivable — ) Intercompany interest receivable — — ) — Intercompany note receivable — — ) — Investment in subsidiary — ) — Other assets — — Total assets $ $ $ $ ) $ Liabilities 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 — — Total liabilities ) Total member’s interest ) Total liabilities and member’s interest $ $ $ $ ) $
Condensed Consolidating Statements of Operations and Comprehensive Income	Condensed Consolidating Statements of Operations and Comprehensive Income For The Three Months Ended June 30, 2015 Company Parent Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Consolidated Total revenue $ — $ $ $ ) $ Direct operating expenses — — Selling, general and administrative expenses — — Depreciation expense — — Provision for doubtful accounts — — — Impairment of leasing equipment — — — Interest expense ) Interest income ) — — — Equity in earnings of subsidiary ) ) — — Other income, net — ) ) — ) Total (income) expense ) Income before provision for income taxes ) Provision for income taxes — — Net income ) Unrealized loss on derivative instruments, net of tax of $8 — ) — — ) Derivative loss reclassified into earnings, net of tax of ($2,007) — — — Foreign currency translation gain, net of tax of $(32) — — — Total other comprehensive income — — — Total comprehensive income $ $ $ $ ) $ Condensed Consolidating Statements of Operations and Comprehensive Income For The Six Months Ended June 30, 2015 Company Parent Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Consolidated Total revenue $ — $ $ $ ) $ Direct operating expenses — — Selling, general and administrative expenses — — Depreciation expense — — Provision for doubtful accounts — — — Impairment of leasing equipment — — — Loss on modification and extinguishment of debt and capital lease obligations — — — Interest expense ) Interest income ) ) — ) Equity in earnings of subsidiary ) ) — — Other income, net — ) ) — ) Total (income) expense ) Income before provision for income taxes ) Provision for income taxes — — Net income ) Unrealized loss on derivative instruments, net of tax of $712 — ) — — ) Derivative loss reclassified into earnings, net of tax of ($4,130) — — — Foreign currency translation loss, net of tax of $205 — ) — — ) Total other comprehensive income — — — Total comprehensive income $ $ $ $ ) $ Condensed Consolidating Statements of Operations and Comprehensive (Loss) Income For The Three Months Ended June 30, 2014 Company Parent Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Consolidated Total revenue $ — $ $ $ ) $ Direct operating expenses — — Selling, general and administrative expenses — — Depreciation expense — — Provision for doubtful accounts — — — Impairment of leasing equipment — — — Early retirement of leasing equipment — — — Loss on modification and extinguishment of debt and capital lease obligations — — — Interest expense ) Interest income ) ) — ) Equity in earnings of subsidiary ) — ) — Other income, net — ) — ) Total expense ) (Loss) income before (benefit) provision for income taxes ) ) ) (Benefit) provision for income taxes — ) — ) Net (loss) income ) ) ) Unrealized loss on derivative instruments, net of tax of $612 — ) — — ) Derivative loss reclassified into earnings, net of tax of ($1,729) — — — Foreign currency translation loss, net of tax of $(95) — — — Total other comprehensive income — — — Total comprehensive (loss) income $ ) $ ) $ $ $ ) Condensed Consolidating Statements of Operations and Comprehensive (Loss) Income For The Six Months Ended June 30, 2014 Company Parent Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Consolidated Total revenue $ — $ $ $ ) $ Direct operating expenses — — Selling, general and administrative expenses — — Depreciation expense — — Provision for doubtful accounts — — — Impairment of leasing equipment — — — Early retirement of leasing equipment — — — Loss on modification and extinguishment of debt and capital lease obligations — — — Interest expense ) Interest income ) ) — ) Equity in earnings of subsidiary ) — ) — Other income, net — ) — ) Total expense ) (Loss) income before (benefit) provision for income taxes ) ) ) (Benefit) provision for income taxes — ) — ) Net (loss) income ) ) ) Unrealized loss on derivative instruments, net of tax of $701 — ) — — ) Derivative loss reclassified into earnings, net of tax of ($3,543) — — — Foreign currency translation loss, net of tax of $35 — ) — — ) Total other comprehensive income — — — Total comprehensive (loss) income $ ) $ ) $ $ $ )
Condensed Consolidating Statement of Cash Flows	Condensed Consolidating Statement of Cash Flows For The Six Months Ended June 30, 2015 Company Parent Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Consolidated Net cash provided by (used in) operating activities $ — $ $ ) $ $ Investing activities: Proceeds from sale of leasing equipment — — — Collections on net investment in direct finance leases, net of interest earned — — ) Purchase of leasing equipment — ) — — ) Purchase of fixed assets — ) — — ) Net cash used in investing activities — ) — ) ) Financing activities: Proceeds from long-term debt — — — Repayments of long-term debt — ) — — ) Repurchase of indirect parent shares from employees — — — — — Net cash used in financing activities — ) — — ) Effect of changes in exchange rates on cash and cash equivalents — ) — — ) Net decrease in cash and cash equivalents — ) ) — ) Cash and cash equivalents, beginning of period — — Cash and cash equivalents, end of period $ — $ $ $ — $ Condensed Consolidating Statement of Cash Flows For The Six Months Ended June 30, 2014 Company Parent Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Consolidated Net cash provided by operating activities $ — $ $ $ $ Investing activities: Proceeds from sale of leasing equipment — — — Collections on net investment in direct finance leases, net of interest earned — — ) Purchase of leasing equipment — ) — — ) Purchase of fixed assets — ) — — ) Net cash used in investing activities — ) — ) ) Financing activities: Proceeds from long-term debt — — — Repayments of long-term debt — ) — — ) Cash paid for debt issuance fees — ) — — ) Repurchase of indirect parent shares from employees — ) — — ) Net cash provided by 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 $ — $ $ $ — $

Description of the Business a32

Description of the Business and Basis of Presentation (Details) - Entity [Domain] $ in Thousands	6 Months Ended
	Jun. 30, 2015USD ($)segmentitem	Dec. 31, 2014USD ($)	Jul. 12, 2012USD ($)
Description of the business and basis of presentation
Number of industries in which the entity and its subsidiaries conduct business	1
Number of reportable segments | segment	2
Debt and Capital Lease Obligations | $	$ 1,096,377	$ 1,164,222	$ 300,000
Debt Instrument, Interest Rate, Stated Percentage			11.00%
Interpool
Description of the business and basis of presentation
Percentage ownership of subsidiaries	100.00%

Description of the Business a33

Description of the Business and Basis of Presentation (Details 2) - Entity [Domain] - USD ($) $ in Thousands	Dec. 31, 2015	Jun. 30, 2015	Dec. 31, 2014	Dec. 31, 2013	Jul. 12, 2012
Recently Issued Accounting Standards
Other assets		$ (47,846)	$ (41,954)
Debt and capital lease obligations		$ 1,096,377	1,164,222		$ 300,000
Accounting Standards Update 2015-03: Simplifying the Presentation of Debt Issuance Costs | Forecast Adjustment
Recently Issued Accounting Standards
Other assets	$ 12,500
Debt and capital lease obligations	$ 12,500
Accounting Standards Update 2015-03: Simplifying the Presentation of Debt Issuance Costs | Pro Forma Adjustment
Recently Issued Accounting Standards
Other assets			21,600	$ 25,300
Debt and capital lease obligations			$ 21,600	$ 25,300

Leasing Activity (Details)

Leasing Activity (Details) - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014
Future minimum lease revenue
2,015	$ 45,867
2,016	53,668
2,017	35,737
2,018	5,535
2,019	3,965
Thereafter	153
Total	144,925
Total Lease Receivables
2,015	2,392
2,016	3,875
2,017	10,352
2,018	94
2,019	9
Thereafter	39
Total	16,761	$ 19,271
Unearned Lease Income
2,015	707
2,016	1,145
2,017	402
2,018	12
2,019	8
Thereafter	14
Total	2,288	3,056
Net Lease Receivables
2,014	1,685
2,016	2,730
2,017	9,950
2,018	82
2,019	1
Thereafter	25
Total	14,473	16,215
Guaranteed and unguaranteed residual values	$ 8,773	$ 8,778

Leasing Equipment (Details)

Leasing Equipment (Details) $ in Thousands	3 Months Ended	6 Months Ended
	Jun. 30, 2014USD ($)item	Jun. 30, 2014USD ($)	Jun. 30, 2015USD ($)	Dec. 31, 2014USD ($)
Leasing equipment
Total leasing equipment			$ 1,826,702	$ 1,837,317
Less accumulated depreciation			(426,187)	(400,408)
Leasing equipment, net of accumulated depreciation			1,400,515	1,436,909
Assets recorded under capital leases
Leasing equipment under capital leases			149,093	182,688
Accumulated depreciation under capital leases			$ 48,457	$ 53,016
Early Retirement of Leasing Equipment
Early retirement of leasing equipment	$ 37,766	$ 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 Developm36

Capitalized Software Development Costs - Jun. 30, 2015 - USD ($) $ in Thousands	Total
Capitalized Software Development Costs
Capitalized software development costs	$ 5,369
Estimated useful life of software	7 years

Borrowings (Details)

Borrowings (Details) - USD ($) $ in Thousands	Feb. 28, 2015	Jun. 30, 2015	Jun. 30, 2014	Dec. 31, 2014	Jul. 12, 2012
Borrowings
Total debt and capital lease obligations		$ 1,096,377		$ 1,164,222	$ 300,000
Less current maturities		(28,194)		(30,546)
Long-term debt, less current maturities		$ 1,068,183		$ 1,133,676
Interest rate (as a percent)					11.00%
Weighted average interest rate (as a percent)		5.78%	5.89%	5.78%
ABL Facility
Borrowings
Total debt and capital lease obligations		$ 711,000		$ 759,000
Senior Secured 11% Notes
Borrowings
Total debt and capital lease obligations		$ 300,000		300,000
Interest rate (as a percent)		11.00%
Loans Payable CIMC
Borrowings
Total debt and capital lease obligations		$ 15,748		16,950
Capital lease obligations
Borrowings
Total debt and capital lease obligations		$ 69,629		$ 88,272
Exercise of purchase options from maturing capital leases	$ 11,806

Derivatives and Hedging Activ38

Derivatives and Hedging Activities (Details) - Interest rate swap - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2015	Jan. 10, 2013
Derivative and Hedging Activities
Variable rate debt hedged		$ 300,000
Fixed interest rate payable (as a percent)		0.756%
LIBOR
Derivative and Hedging Activities
Maturity of reference rate for variable interest	1 month
One month LIBOR interest rate (as a percent)	0.186%

Derivatives and Hedging Activ39

Derivatives and Hedging Activities (Details 2) - Interest rate swap - USD ($) $ in Thousands	6 Months Ended	12 Months Ended
	Jun. 30, 2015	Dec. 31, 2014	Jan. 10, 2013
Derivative and Hedging Activities
Notional Amount	$ 300,000	$ 300,000
Fixed Leg Interest Rate (as a percent)			0.756%
Weighted-Average Fixed Leg Interest Rate (as a percent)	0.756%	0.756%
Weighted-Average Remaining Term	2 years 11 days	2 years 6 months 11 days
LIBOR
Derivative and Hedging Activities
Floating Rate, maturity	1 month
Designated as hedge | Cash flow hedge
Derivative and Hedging Activities
Notional Amount	$ 300,000
Floating Rate, maturity	1 month
Fixed Leg Interest Rate (as a percent)	0.756%
Designated as hedge | Cash flow hedge | Other Asset
Derivative and Hedging Activities
Fair Value Gain	$ 250

Derivatives and Hedging Activ40

Derivatives and Hedging Activities (Details 3) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Interest expenses
Net of tax effect of cash flow hedge derivative instruments
Net settlements of interest rate derivatives, net of tax			$ 538	$ 550
Amortization of terminated derivatives, net of tax			6,396	5,452
Interest rate swap | Designated as hedge | Cash flow hedge
Net of tax effect of cash flow hedge derivative instruments
Change in Unrealized Loss Recognized in OCI on Derivatives, Effective Portion	$ (281)	$ (1,219)	(1,633)	(1,628)
Interest rate swap | Designated as hedge | Cash flow hedge | Interest expenses
Net of tax effect of cash flow hedge derivative instruments
Loss Reclassified from OCI into Income, Effective Portion	3,372	2,937	6,934	6,002
(Gain) Loss Recognized Directly in Income on Derivative, Ineffective Portion	(20)	(20)	(42)	(41)
Net settlements of interest rate derivatives, net of tax	269	277
Net settlements of interest rate derivatives, tax	(174)	(181)	(348)	(358)
Amortization of terminated derivatives, net of tax	3,103	2,660
Amortization of terminated derivatives, tax	$ (2,007)	$ (1,729)	$ (4,130)	$ (3,543)

Derivatives and Hedging Activ41

Derivatives and Hedging Activities (Details 4) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014	Jan. 10, 2013
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			$ 721
Net interest settlements on active interest rate derivatives expected to be amortized over the next 12 months, tax			467
Deferred losses on the Company's terminated derivatives expected to be amortized over the next twelve months, net of tax			11,063
Deferred losses on the Company's terminated derivatives expected to be amortized over the next twelve months, tax			$ 7,154
Interest rate swap
Deferred (gains) and losses for the terminated interest rate derivatives and the related amortization into interest expense
Fixed Rate %					0.756%
Interest rate swap | Designated as hedge | Cash flow hedge
Deferred (gains) and losses for the terminated interest rate derivatives and the related amortization into interest expense
Fixed Rate %	0.756%		0.756%
Deferred Loss Upon Termination	$ 127,529		$ 127,529
Unamortized Deferred (Gain) Loss	37,552		37,552
Amount of Deferred (Gain) Loss Amortized (including Accelerated Amortization) into Interest Expense	5,110	$ 4,389	10,526	$ 8,995
Amount of Deferred (Gain) Loss Expected to be Amortized over the Next 12 Months			18,217
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		$ 60,852
Fixed Rate %	5.299%		5.299%
Deferred Loss Upon Termination	$ 1,853		$ 1,853
Unamortized Deferred (Gain) Loss	(8)		(8)
Amount of Deferred (Gain) Loss Amortized (including Accelerated Amortization) into Interest Expense		3		7
Amount of Deferred (Gain) Loss Expected to be Amortized over the Next 12 Months			(4)
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		$ 200,000
Fixed Rate %	5.307%		5.307%
Deferred Loss Upon Termination	$ 6,412		$ 6,412
Unamortized Deferred (Gain) Loss	(23)		(23)
Amount of Deferred (Gain) Loss Amortized (including Accelerated Amortization) into Interest Expense	(1)	13		31
Amount of Deferred (Gain) Loss Expected to be Amortized over the Next 12 Months			(14)
Interest rate swap | Designated as hedge | Cash flow hedge | Terminated derivative at fixed rate of 5.58%, original maturity of Jul-2014
Deferred (gains) and losses for the terminated interest rate derivatives and the related amortization into interest expense
Original Maximum Notional Amount	$ 163,333		$ 163,333
Fixed Rate %	5.58%		5.58%
Deferred Loss Upon Termination	$ 3,773		$ 3,773
Amount of Deferred (Gain) Loss Amortized (including Accelerated Amortization) into Interest Expense		85		174
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		$ 150,000
Fixed Rate %	5.512%		5.512%
Deferred Loss Upon Termination	$ 1,711		$ 1,711
Amount of Deferred (Gain) Loss Amortized (including Accelerated Amortization) into Interest Expense		13		27
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		$ 150,000
Fixed Rate %	5.512%		5.512%
Deferred Loss Upon Termination	$ 3,498		$ 3,498
Amount of Deferred (Gain) Loss Amortized (including Accelerated Amortization) into Interest Expense		42		88
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		$ 480,088
Fixed Rate %	5.436%		5.436%
Deferred Loss Upon Termination	$ 1,711		$ 1,711
Unamortized Deferred (Gain) Loss	1,225		1,225
Amount of Deferred (Gain) Loss Amortized (including Accelerated Amortization) into Interest Expense	162		341
Amount of Deferred (Gain) Loss Expected to be Amortized over the Next 12 Months			583
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		$ 480,088
Fixed Rate %	5.436%		5.436%
Deferred Loss Upon Termination	$ 1,526		$ 1,526
Unamortized Deferred (Gain) Loss	1,038		1,038
Amount of Deferred (Gain) Loss Amortized (including Accelerated Amortization) into Interest Expense	156		342
Amount of Deferred (Gain) Loss Expected to be Amortized over the Next 12 Months			621
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		$ 163,333
Fixed Rate %	4.605%		4.605%
Deferred Loss Upon Termination	$ 2,082		$ 2,082
Amount of Deferred (Gain) Loss Amortized (including Accelerated Amortization) into Interest Expense		(77)		(136)
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		$ 332,525
Fixed Rate %	4.743%		4.743%
Deferred Loss Upon Termination	$ 7,641		$ 7,641
Amount of Deferred (Gain) Loss Amortized (including Accelerated Amortization) into Interest Expense		(34)		(53)
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		$ 58,238
Fixed Rate %	4.305%		4.305%
Deferred Loss Upon Termination	$ 862		$ 862
Unamortized Deferred (Gain) Loss	(73)		(73)
Amount of Deferred (Gain) Loss Amortized (including Accelerated Amortization) into Interest Expense	(16)	(15)	(30)	(30)
Amount of Deferred (Gain) Loss Expected to be Amortized over the Next 12 Months			(53)
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		$ 193,333
Fixed Rate %	4.365%		4.365%
Deferred Loss Upon Termination	$ 3,265		$ 3,265
Unamortized Deferred (Gain) Loss	(226)		(226)
Amount of Deferred (Gain) Loss Amortized (including Accelerated Amortization) into Interest Expense	(56)	(62)	(114)	(122)
Amount of Deferred (Gain) Loss Expected to be Amortized over the Next 12 Months			(163)
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		$ 37,000
Fixed Rate %	5.526%		5.526%
Deferred Loss Upon Termination	$ 3,122		$ 3,122
Amount of Deferred (Gain) Loss Amortized (including Accelerated Amortization) into Interest Expense		141		291
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		$ 53,286
Fixed Rate %	3.989%		3.989%
Deferred Loss Upon Termination	$ 2,048		$ 2,048
Unamortized Deferred (Gain) Loss	356		356
Amount of Deferred (Gain) Loss Amortized (including Accelerated Amortization) into Interest Expense	86	122	179	255
Amount of Deferred (Gain) Loss Expected to be Amortized over the Next 12 Months			270
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		$ 181,667
Fixed Rate %	4.033%		4.033%
Deferred Loss Upon Termination	$ 8,538		$ 8,538
Unamortized Deferred (Gain) Loss	1,224		1,224
Amount of Deferred (Gain) Loss Amortized (including Accelerated Amortization) into Interest Expense	357	555	763	1,167
Amount of Deferred (Gain) Loss Expected to be Amortized over the Next 12 Months			925
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		$ 43,333
Fixed Rate %	4.328%		4.328%
Deferred Loss Upon Termination	$ 11,033		$ 11,033
Amount of Deferred (Gain) Loss Amortized (including Accelerated Amortization) into Interest Expense		1,476		2,938
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		$ 211,567
Fixed Rate %	4.147%		4.147%
Deferred Loss Upon Termination	$ 17,002		$ 17,002
Amount of Deferred (Gain) Loss Amortized (including Accelerated Amortization) into Interest Expense		1,543		3,191
Interest rate swap | Designated as hedge | Cash flow hedge | Terminated derivative at fixed rate of 4%, original maturity of Oct-2014
Deferred (gains) and losses for the terminated interest rate derivatives and the related amortization into interest expense
Original Maximum Notional Amount	$ 150,000		$ 150,000
Fixed Rate %	4.00%		4.00%
Deferred Loss Upon Termination	$ 5,080		$ 5,080
Amount of Deferred (Gain) Loss Amortized (including Accelerated Amortization) into Interest Expense		$ 584		$ 1,167
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		$ 427,407
Fixed Rate %	5.174%		5.174%
Deferred Loss Upon Termination	$ 46,372		$ 46,372
Unamortized Deferred (Gain) Loss	34,039		34,039
Amount of Deferred (Gain) Loss Amortized (including Accelerated Amortization) into Interest Expense	$ 4,422		9,045
Amount of Deferred (Gain) Loss Expected to be Amortized over the Next 12 Months			$ 16,052

Commitments and Contingencies (

Commitments and Contingencies (Details) $ in Thousands	Jun. 30, 2015USD ($)
Lease Commitments
Minimum rental commitment under operating leases	$ 45,884
Equipment Leased
Purchase Commitments
Capital expenditures	$ 28,701

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Income Taxes
Provision (benefit) for income taxes	$ 5,054	$ (12,042)	$ 12,434	$ (8,186)
Effective tax rate (as a percent)	39.60%	35.60%	38.50%	33.50%
U.S. federal tax rate (as a percent)			35.00%
Charge for the early retirement of leasing equipment		$ 37,766		$ 37,766

Accumulated Other Comprehensi44

Accumulated Other Comprehensive Loss (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Changes in accumulated other comprehensive (loss) by component:
Balance at the beginning of the period			$ (28,617)
Current-period other comprehensive income (loss)	$ 3,142	$ 1,864	4,944	$ 4,313
Balance at the end of the period	(23,673)		(23,673)
Unrealized Gain (Loss) on Derivative Instruments
Changes in accumulated other comprehensive (loss) by component:
Balance at the beginning of the period			1,121
Current-period other comprehensive income (loss)			(1,095)
Balance at the end of the period	26		26
Net Derivative Loss to be Reclassified into Earnings
Changes in accumulated other comprehensive (loss) by component:
Balance at the beginning of the period			(29,201)
Current-period other comprehensive income (loss)			6,396
Balance at the end of the period	(22,805)		(22,805)
Foreign Currency Translation
Changes in accumulated other comprehensive (loss) by component:
Balance at the beginning of the period			(537)
Current-period other comprehensive income (loss)			(357)
Balance at the end of the period	$ (894)		$ (894)

Accumulated Other Comprehensi45

Accumulated Other Comprehensive Loss (Details 2) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Income Statement Totals
Interest expense	$ 21,506	$ 21,375	$ 43,603	$ 43,591
Provision for income taxes	5,054	(12,042)	12,434	(8,186)
Net loss reclassified out of AOCI	(7,711)	21,745	(19,872)	16,271
AOCI reclassifications | Net Derivative Loss to be Reclassified into Earnings
Income Statement Totals
Interest expense	5,110	4,389	10,526	8,995
Provision for income taxes	(2,007)	(1,729)	(4,130)	(3,543)
Net loss reclassified out of AOCI	$ 3,103	$ 2,660	$ 6,396	$ 5,452

Share-Based Payments (Details)

Share-Based Payments (Details) - Restricted shares - SCT Chassis, Inc. - USD ($) $ / shares in Units, $ in Thousands	Jan. 01, 2015	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Shares
Non-vested at the beginning of the period (in shares)	180,217			180,217
Granted (in shares)	63,963			63,963
Vested (in shares)				(128,741)
Non-vested at the end of the period (in shares)		115,439		115,439
Weighted-Average Grant Date Fair Value per share
Non-vested at the beginning of the period (in dollars per share)	$ 6.71			$ 6.71
Granted (in dollars per share)				10.52
Vested (in dollars per share)				7.01
Non-vested at the end of the period (in dollars per share)		$ 8.49		$ 8.49
Fair Value of Shares at Grant Date
Non-vested at the beginning of the period (in dollars)	$ 1,209			$ 1,209
Granted (in dollars)				673
Vested (in dollars)				(902)
Non-vested at the end of the period (in dollars)		$ 980		$ 980
Share-based payments, additional information
Granted and immediately vested (in shares)				14,702
Granted and incrementally vested (in shares)				49,261
Share-based compensation expense		102	$ 218	$ 349	$ 436
Unrecognized compensation expense		$ 754		$ 754
Remaining weighted-average vesting period over which the total unrecognized compensation cost is expected to be recognized				2 years
Additional grants (in shares)		1,096,954		1,096,954
Share-based compensation expense recorded related to shares to be granted on achievement of certain conditions		$ 0		$ 0

Share-Based Payment (Details 2)

Share-Based Payment (Details 2)	6 Months Ended
	Jun. 30, 2015shares
Share-Based Payment
Number of shares repurchased	0

Segment and Geographic Inform48

Segment and Geographic Information (Details) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015USD ($)	Jun. 30, 2014USD ($)	Jun. 30, 2015USD ($)segment	Jun. 30, 2014USD ($)	Dec. 31, 2014USD ($)
Segment and Geographic Information
Number of operating and reportable segments | segment			2
Segment information
Total revenues	$ 177,613	$ 152,427	$ 346,368	$ 292,078
Adjusted EBITDA	55,420	44,630	117,348	96,827
Depreciation expense	17,914	16,773	35,815	35,277
Net investment in direct finance leases	14,473		14,473		$ 16,215
Leasing equipment	1,400,515		1,400,515		$ 1,436,909
Operating segments
Segment information
Total revenues	177,613	152,427	346,368	292,078
Adjusted EBITDA	55,420	44,630	117,348	96,827
Depreciation expense	17,914	16,773	35,815	35,277
Net investment in direct finance leases	14,473	19,255	14,473	19,255
Leasing equipment	1,400,515	1,414,950	1,400,515	1,414,950
Capital expenditures for long-lived assets	11,454	80,503	26,911	96,911
Operating segments | Term revenue
Segment information
Total revenues	13,274	13,390	26,387	28,693
Operating segments | Pool revenue
Segment information
Total revenues	156,164	126,325	303,740	242,391
Operating segments | All other revenue
Segment information
Total revenues	8,175	12,712	16,241	20,994
Operating segments | Marine Market segment
Segment information
Total revenues	129,924	107,232	252,329	203,117
Adjusted EBITDA	38,664	28,176	80,845	61,064
Depreciation expense	9,583	9,255	19,237	18,276
Net investment in direct finance leases	14,288	19,118	14,288	19,118
Leasing equipment	771,783	801,069	771,783	801,069
Capital expenditures for long-lived assets	3,287	79,026	5,438	93,936
Operating segments | Marine Market segment | Term revenue
Segment information
Total revenues	9,298	9,372	18,465	19,520
Operating segments | Marine Market segment | Pool revenue
Segment information
Total revenues	116,079	89,062	225,436	169,840
Operating segments | Marine Market segment | All other revenue
Segment information
Total revenues	4,547	8,798	8,428	13,757
Operating segments | Domestic Market segment
Segment information
Total revenues	45,972	44,007	90,469	86,821
Adjusted EBITDA	25,322	23,496	52,516	48,968
Depreciation expense	6,804	6,292	13,586	13,926
Net investment in direct finance leases	185	137	185	137
Leasing equipment	485,733	454,580	485,733	454,580
Capital expenditures for long-lived assets	1,283	1,084	11,290	1,951
Operating segments | Domestic Market segment | Term revenue
Segment information
Total revenues	3,976	4,018	7,922	9,173
Operating segments | Domestic Market segment | Pool revenue
Segment information
Total revenues	40,085	37,263	78,304	72,551
Operating segments | Domestic Market segment | All other revenue
Segment information
Total revenues	1,911	2,726	4,243	5,097
Other
Segment information
Total revenues	1,717	1,188	3,570	2,140
Adjusted EBITDA	(8,566)	(7,042)	(16,013)	(13,205)
Depreciation expense	1,527	1,226	2,992	3,075
Leasing equipment	142,999	159,301	142,999	159,301
Capital expenditures for long-lived assets	6,884	393	10,183	1,024
Other | All other revenue
Segment information
Total revenues	$ 1,717	$ 1,188	$ 3,570	$ 2,140

Segment and Geographic Inform49

Segment and Geographic Information (Details 2) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Reconciliations of the total measure of profit or loss to the Company's net income (loss)
Adjusted EBITDA	$ 55,420	$ 44,630	$ 117,348	$ 96,827
Principal collections on direct finance leases, net of interest earned	(785)	(1,172)	(2,010)	(2,359)
Non-cash share-based compensation	(102)	(218)	(349)	(436)
Interest expense	(21,506)	(21,375)	(43,603)	(43,591)
Depreciation expense	(17,914)	(16,773)	(35,815)	(35,277)
Impairment of leasing equipment	(2,569)	(1,191)	(4,002)	(2,317)
Early retirement of leasing equipment		(37,766)		(37,766)
Loss on modification and extinguishment of debt and capital lease obligations		(80)	(39)	(102)
Other income, net	221	135	775	517
Interest income		23	1	47
Income (loss) before provision (benefit) for income taxes	12,765	(33,787)	32,306	(24,457)
Provision (benefit) for income taxes	5,054	(12,042)	12,434	(8,186)
Net income (loss)	$ 7,711	$ (21,745)	$ 19,872	$ (16,271)

Related Party Transactions (Det

Related Party Transactions (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014	Mar. 31, 2015	Dec. 31, 2014
Seacastle Inc.
Related party transactions
Management fees charged to related party	$ 31	$ 25	$ 62	$ 49
Net receivable from affiliates	611		611			$ 705
Florida East Coast Railway
Related party transactions
Revenue from related party	564	$ 407	1,073	$ 777
SCT Chassis, Inc.
Related party transactions
Key employee receivable	$ 543		$ 543		$ 543

Fair Value of Financial Instr51

Fair Value of Financial Instruments (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2015	Dec. 31, 2014	Jan. 10, 2013	Jul. 12, 2012
Debt
Variable interest rate debt	$ 429,880	$ 479,334
Fixed rate debt	666,497	684,888
Liabilities:
Total debt and capital lease obligations	(1,096,377)	(1,164,222)		$ (300,000)
Fair Value
Liabilities:
Derivative instruments	250	2,015
Total debt and capital lease obligations	(1,121,495)	(1,186,862)
Reported Value Measurement
Liabilities:
Derivative instruments	250	2,015
Total debt and capital lease obligations	$ (1,096,377)	(1,164,222)
Interest rate swap
Derivative instruments
Maximum percentage of principal amount of debt for optional redemption with equity offering proceeds	35.00%
Debt redemption price as percentage of principal amount, for optional redemption with equity offering proceeds	111.00%
Debt
Variable rate debt effectively converted to fixed rate			$ 300,000
Recurring | Fair Value
Assets:
Cash and cash equivalents	$ 3,717	4,256
Derivative instruments	250	2,015
Recurring | Level 1
Assets:
Cash and cash equivalents	3,717	4,256
Recurring | Level 2
Assets:
Derivative instruments	$ 250	$ 2,015

Guarantor Financial Informati52

Guarantor Financial Information (Details) - USD ($) $ in Thousands	Jul. 05, 2013	Jun. 30, 2015	Dec. 31, 2014	Jun. 30, 2014	Dec. 31, 2013	Aug. 09, 2012	Jul. 12, 2012
Condensed Consolidating Balance Sheet
Interest rate (as a percent)							11.00%
Assets
Cash and cash equivalents		$ 3,717	$ 4,256	$ 13,587	$ 11,843
Accounts receivable, net		131,581	135,076
Net investment in direct finance leases		14,473	16,215
Leasing equipment, net of accumulated depreciation		1,400,515	1,436,909
Goodwill		251,907	251,907
Affiliate and intercompany receivable		611	704
Other assets		47,235	41,250
Total assets		1,850,039	1,886,317
Liabilities and member's interest
Accounts payable, accrued expenses and other liabilities		79,856	89,230
Intercompany payable			0
Deferred income taxes, net		118,243	102,467
Debt and capital lease obligations		1,096,377	1,164,222				$ 300,000
Total liabilities		1,294,476	1,355,919
Total member's interest		555,563	530,398
Total liabilities and member's interest		$ 1,850,039	1,886,317
Senior Secured 11% Notes
Condensed Consolidating Balance Sheet
Interest rate (as a percent)		11.00%
Liabilities and member's interest
Debt and capital lease obligations		$ 300,000	300,000
Senior Secured 11% Notes | Unregistered Original Notes
Condensed Consolidating Balance Sheet
Total principal amount of the Original Notes sold						$ 300,000
Percentage of principal amount of the outstanding Original Notes validly tendered under exchange offer	100.00%
Eliminations
Assets
Net investment in direct finance leases		(8,334)	(8,961)
Affiliate and intercompany receivable			(8)
Intercompany interest receivable		(12,467)	(12,467)
Intercompany note receivable		(300,000)	(300,000)
Investment in subsidiary		(560,831)	(535,040)
Total assets		(881,632)	(856,476)
Liabilities and member's interest
Intercompany payable			(8)
Intercompany note payable		(300,000)	(300,000)
Intercompany interest payable		(12,467)	(12,467)
Intercompany lease payable		(8,334)	(8,961)
Total liabilities		(320,801)	(321,436)
Total member's interest		(560,831)	(535,040)
Total liabilities and member's interest		$ (881,632)	(856,476)
Guarantor Subsidiaries
Condensed Consolidating Balance Sheet
Percentage ownership of subsidiaries		100.00%
Issuer Parent | Reportable Legal Entities
Assets
Intercompany interest receivable		$ 12,467	12,467
Intercompany note receivable		300,000	300,000
Investment in subsidiary		555,563	530,398
Total assets		868,030	842,865
Liabilities and member's interest
Accounts payable, accrued expenses and other liabilities		12,467	12,467
Debt and capital lease obligations		300,000	300,000
Total liabilities		312,467	312,467
Total member's interest		555,563	530,398
Total liabilities and member's interest		868,030	842,865
Guarantor Subsidiaries | Reportable Legal Entities
Assets
Cash and cash equivalents		1,571	2,037	12,037	11,308
Accounts receivable, net		130,612	134,765
Net investment in direct finance leases		22,807	25,176
Leasing equipment, net of accumulated depreciation		1,388,034	1,424,112
Goodwill		251,907	251,907
Affiliate and intercompany receivable		611	704
Investment in subsidiary		5,268	4,642
Other assets		46,954	40,966
Total assets		1,847,764	1,884,309
Liabilities and member's interest
Accounts payable, accrued expenses and other liabilities		67,342	76,705
Intercompany payable			8
Intercompany note payable		300,000	300,000
Intercompany interest payable		12,467	12,467
Deferred income taxes, net		116,015	100,509
Debt and capital lease obligations		796,377	864,222
Total liabilities		1,292,201	1,353,911
Total member's interest		555,563	530,398
Total liabilities and member's interest		1,847,764	1,884,309
Non-Guarantor Subsidiaries | Reportable Legal Entities
Assets
Cash and cash equivalents		2,146	2,219	$ 1,550	$ 535
Accounts receivable, net		969	311
Leasing equipment, net of accumulated depreciation		12,481
Goodwill			12,797
Intercompany interest receivable			8
Other assets		281	284
Total assets		15,877	15,619
Liabilities and member's interest
Accounts payable, accrued expenses and other liabilities		47	58
Intercompany lease payable		8,334	8,961
Deferred income taxes, net		2,228	1,958
Total liabilities		10,609	10,977
Total member's interest		5,268	4,642
Total liabilities and member's interest		$ 15,877	$ 15,619

Guarantor Financial Informati53

Guarantor Financial Information (Details 2) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Condensed Consolidating Statements of Operations and Comprehensive Income
Total Revenue	$ 177,613	$ 152,427	$ 346,368	$ 292,078
Direct operating expenses	99,969	82,983	184,920	149,816
Selling, general and administrative expenses	23,012	22,544	44,288	41,113
Depreciation expense	17,914	16,773	35,815	35,277
Provision for doubtful accounts	99	3,660	2,171	7,117
Impairment of leasing equipment	2,569	1,191	4,002	2,317
Early retirement of leasing equipment		37,766		37,766
Loss on modification and extinguishment of debt and capital lease obligations		80	39	102
Interest expense	21,506	21,375	43,603	43,591
Interest income		(23)	(1)	(47)
Other income, net	(221)	(135)	(775)	(517)
Total expenses	164,848	186,214	314,062	316,535
Income (loss) before provision (benefit) for income taxes	12,765	(33,787)	32,306	(24,457)
Provision for income taxes	5,054	(12,042)	12,434	(8,186)
Net income (loss)	7,711	(21,745)	19,872	(16,271)
Unrealized loss on derivative instruments, net	(11)	(942)	(1,095)	(1,078)
Derivative loss reclassified into earnings, net	3,103	2,660	6,396	5,452
Foreign currency translation loss, net	50	146	(357)	(61)
Total other comprehensive income	3,142	1,864	4,944	4,313
Total comprehensive income (loss)	10,853	(19,881)	24,816	(11,958)
Consolidated Statements of Comprehensive Income (Parenthetical)
Unrealized loss on derivative instruments, net of tax	8	612	712	701
Derivative loss reclassified into earnings, net	(2,007)	(1,729)	(4,130)	(3,543)
Foreign currency translation, net	(32)	(95)	205	35
Eliminations
Condensed Consolidating Statements of Operations and Comprehensive Income
Total Revenue	(61)	(69)	(124)	(142)
Interest expense	(8,311)	(8,319)	(16,624)	(16,642)
Interest income	8,250	8,250	16,500	16,500
Equity in earnings of subsidiary	8,032	(21,485)	20,498	(15,787)
Total expenses	7,971	(21,554)	20,374	(15,929)
Income (loss) before provision (benefit) for income taxes	(8,032)	21,485	(20,498)	15,787
Net income (loss)	(8,032)	21,485	(20,498)	15,787
Total comprehensive income (loss)	(8,032)	21,485	(20,498)	15,787
Issuer Parent
Condensed Consolidating Statements of Operations and Comprehensive Income
Interest expense			16,500
Interest income			(16,500)
Equity in earnings of subsidiary			(19,872)
Total expenses			(19,872)
Income (loss) before provision (benefit) for income taxes			19,872
Net income (loss)			19,872
Total comprehensive income (loss)			19,872
Issuer Parent | Reportable Legal Entities
Condensed Consolidating Statements of Operations and Comprehensive Income
Interest expense	8,250	8,250		16,500
Interest income	(8,250)	(8,250)		(16,500)
Equity in earnings of subsidiary	(7,711)	21,745		16,271
Total expenses	(7,711)	21,745		16,271
Income (loss) before provision (benefit) for income taxes	7,711	(21,745)		(16,271)
Net income (loss)	7,711	(21,745)		(16,271)
Total comprehensive income (loss)	7,711	(21,745)		(16,271)
Guarantor Subsidiaries
Condensed Consolidating Statements of Operations and Comprehensive Income
Total Revenue			344,904
Direct operating expenses			184,899
Selling, general and administrative expenses			44,003
Depreciation expense			35,529
Provision for doubtful accounts			2,171
Impairment of leasing equipment			4,002
Loss on modification and extinguishment of debt and capital lease obligations			39
Interest expense			43,602
Interest income			(1)
Equity in earnings of subsidiary			(626)
Other income, net			(769)
Total expenses			312,849
Income (loss) before provision (benefit) for income taxes			32,055
Provision for income taxes			12,183
Net income (loss)			19,872
Unrealized loss on derivative instruments, net			(1,095)
Derivative loss reclassified into earnings, net			6,396
Foreign currency translation loss, net			(357)
Total other comprehensive income			4,944
Total comprehensive income (loss)			24,816
Guarantor Subsidiaries | Reportable Legal Entities
Condensed Consolidating Statements of Operations and Comprehensive Income
Total Revenue	176,875	151,680		290,630
Direct operating expenses	99,958	82,972		149,795
Selling, general and administrative expenses	22,869	22,412		40,856
Depreciation expense	17,771	16,605		34,942
Provision for doubtful accounts	99	3,660		7,117
Impairment of leasing equipment	2,569	1,191		2,317
Early retirement of leasing equipment		37,766		37,766
Loss on modification and extinguishment of debt and capital lease obligations		80		102
Interest expense	21,505	21,374		43,590
Interest income		(23)		(47)
Equity in earnings of subsidiary	(321)	(260)		(484)
Other income, net	(215)	(136)		(518)
Total expenses	164,235	185,641		315,436
Income (loss) before provision (benefit) for income taxes	12,640	(33,961)		(24,806)
Provision for income taxes	4,929	(12,216)		(8,535)
Net income (loss)	7,711	(21,745)		(16,271)
Unrealized loss on derivative instruments, net	(11)	(942)		(1,078)
Derivative loss reclassified into earnings, net	3,103	2,660		5,452
Foreign currency translation loss, net	50	146		(61)
Total other comprehensive income	3,142	1,864		4,313
Total comprehensive income (loss)	10,853	(19,881)		(11,958)
Non-Guarantor Subsidiaries
Condensed Consolidating Statements of Operations and Comprehensive Income
Total Revenue			1,588
Direct operating expenses			21
Selling, general and administrative expenses			285
Depreciation expense			286
Interest expense			125
Other income, net			(6)
Total expenses			711
Income (loss) before provision (benefit) for income taxes			877
Provision for income taxes			251
Net income (loss)			626
Total comprehensive income (loss)			$ 626
Non-Guarantor Subsidiaries | Reportable Legal Entities
Condensed Consolidating Statements of Operations and Comprehensive Income
Total Revenue	799	816		1,590
Direct operating expenses	11	11		21
Selling, general and administrative expenses	143	132		257
Depreciation expense	143	168		335
Interest expense	62	70		143
Other income, net	(6)	1		1
Total expenses	353	382		757
Income (loss) before provision (benefit) for income taxes	446	434		833
Provision for income taxes	125	174		349
Net income (loss)	321	260		484
Total comprehensive income (loss)	$ 321	$ 260		$ 484

Guarantor Financial Informati54

Guarantor Financial Information (Details 3) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Condensed Consolidating Statement of Cash Flows
Net cash (used in) provided by operating activities			$ 85,364	$ 61,451
Investing activities:
Proceeds from sale of leasing equipment			7,288	6,694
Collections on net investment in direct finance leases, net of interest earned	$ 785	$ 1,172	2,010	2,359
Purchase of leasing equipment			(16,728)	(95,888)
Purchase of fixed assets			(10,183)	(1,023)
Net cash used in investing activities			(17,613)	(87,858)
Financing activities:
Proceeds from debt			66,750	92,000
Repayments of long-term debt			(134,694)	(61,192)
Cash paid for debt issuance fees				(1,973)
Repurchase of indirect parent shares from employees				(585)
Net cash (used in) provided by financing activities			(67,944)	28,250
Effect of changes in exchange rates on cash and cash equivalents			(346)	(99)
Net (decrease) increase in cash and cash equivalents			(539)	1,744
Cash and cash equivalents, beginning of year			4,256	11,843
Cash and cash equivalents, end of period	3,717	13,587	3,717	13,587
Eliminations
Condensed Consolidating Statement of Cash Flows
Net cash (used in) provided by operating activities			751	756
Investing activities:
Collections on net investment in direct finance leases, net of interest earned			(751)	(756)
Net cash used in investing activities			(751)	(756)
Guarantor Subsidiaries | Reportable Legal Entities
Condensed Consolidating Statement of Cash Flows
Net cash (used in) provided by operating activities			84,686	59,680
Investing activities:
Proceeds from sale of leasing equipment			7,288	6,694
Collections on net investment in direct finance leases, net of interest earned			2,761	3,115
Purchase of leasing equipment			(16,728)	(95,888)
Purchase of fixed assets			(10,183)	(1,023)
Net cash used in investing activities			(16,862)	(87,102)
Financing activities:
Proceeds from debt			66,750	92,000
Repayments of long-term debt			(134,694)	(61,192)
Cash paid for debt issuance fees				(1,973)
Repurchase of indirect parent shares from employees				(585)
Net cash (used in) provided by financing activities			(67,944)	28,250
Effect of changes in exchange rates on cash and cash equivalents			(346)	(99)
Net (decrease) increase in cash and cash equivalents			(466)	729
Cash and cash equivalents, beginning of year			2,037	11,308
Cash and cash equivalents, end of period	1,571	12,037	1,571	12,037
Non-Guarantor Subsidiaries | Reportable Legal Entities
Condensed Consolidating Statement of Cash Flows
Net cash (used in) provided by operating activities			(73)	1,015
Financing activities:
Net (decrease) increase in cash and cash equivalents			(73)	1,015
Cash and cash equivalents, beginning of year			2,219	535
Cash and cash equivalents, end of period	$ 2,146	$ 1,550	$ 2,146	$ 1,550

Subsequent Events (Details)

Subsequent Events (Details) - USD ($) $ in Thousands	Aug. 11, 2015	Aug. 07, 2015	Jul. 15, 2015	Jul. 14, 2015	Jun. 30, 2015	Dec. 31, 2014	Jul. 12, 2012
Subsequent events
Aggregate principal					$ 1,096,377	$ 1,164,222	$ 300,000
Senior Secured 11% Notes
Subsequent events
Aggregate principal					300,000	300,000
Subsequent Event | Senior Secured 11% Notes
Subsequent events
Aggregate principal			$ 150,000
Percentage of principal amount			108.25%
Financing fees expensed upon redemption			$ 3,058
ABL Facility
Subsequent events
Aggregate principal					$ 711,000	$ 759,000
Interpool | Subsequent Event
Subsequent events
Proceeds from sale of corporate headquarters building		$ 2,300
Tax incentive credit				$ 9,800
Period of time tax credits are received				10 years
Interpool | Subsequent Event | Credit Agreement-Third and Incremental Amendments
Subsequent events
Deferred financing fees	$ 749
Interpool | ABL Facility | Subsequent Event | Credit Agreement-Third Amendment
Subsequent events
Current revolving commitment borrowing capacity	1,250,000
Maximum revolving commitment borrowing capacity	1,400,000
Interpool | ABL Facility | Subsequent Event | Credit Agreement-Incremental Amendment
Subsequent events
Increase (decrease) in revolving commitment	50,000
Maximum revolving commitment borrowing capacity	1,300,000
Interpool | ABL Facility with JPMorgan Chase Bank, N.A. | Subsequent Event | Credit Agreement-Incremental Amendment
Subsequent events
Increase (decrease) in revolving commitment	(22,750)
Interpool | ABL Facility with Citibank, N.A. | Subsequent Event | Credit Agreement-Incremental Amendment
Subsequent events
Increase (decrease) in revolving commitment	100,000
Interpool | ABL Facility with City National Bank | Subsequent Event | Credit Agreement-Incremental Amendment
Subsequent events
Increase (decrease) in revolving commitment	9,000
Interpool | ABL Facility with Bank of America, N.A. | Subsequent Event | Credit Agreement-Incremental Amendment
Subsequent events
Increase (decrease) in revolving commitment	(22,750)
Interpool | ABL Facility with Deutsche Bank AG New York Branch | Subsequent Event | Credit Agreement-Incremental Amendment
Subsequent events
Increase (decrease) in revolving commitment	$ (13,500)