Triton International Limited (TRTN-PB) 10-Q7 Aug 182018 Q2 Quarterly reportFinancial data

Company Profile

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
Document and Entity Information - shares	Jun. 30, 2018	Aug. 03, 2018
Document and Entity Information
Entity Registrant Name	Triton International Ltd
Entity Central Index Key	1,660,734
Document Type	10-Q
Document Period End Date	Jun. 30, 2018
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding		80,855,072
Document Fiscal Year Focus	2,018
Document Fiscal Period Focus	Q2

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2018	Dec. 31, 2017
ASSETS:
Leasing equipment, net of accumulated depreciation of $2,441,745 and $2,218,897	$ 8,956,091	$ 8,364,484
Net investment in finance leases	270,746	295,891
Equipment held for sale	50,068	43,195
Revenue earning assets	9,276,905	8,703,570
Cash and cash equivalents	48,145	132,031
Restricted cash	132,433	94,140
Accounts receivable, net of allowances of $2,861 and $3,002	229,697	199,876
Goodwill	236,665	236,665
Lease intangibles, net of accumulated amortization of $177,187 and $144,081	121,270	154,376
Other assets	35,534	49,591
Fair value of derivative instruments	29,467	7,376
Total assets	10,110,116	9,577,625
LIABILITIES AND SHAREHOLDERS' EQUITY:
Equipment purchases payable	159,454	128,133
Fair value of derivative instruments	0	2,503
Accounts payable and other accrued expenses	93,008	109,999
Net deferred income tax liability	243,342	215,439
Debt, net of unamortized debt costs of $44,603 and $40,636	7,282,056	6,911,725
Total liabilities	7,777,860	7,367,799
Shareholders' equity:
Additional paid-in capital	894,005	889,168
Accumulated earnings	1,269,429	1,159,367
Accumulated other comprehensive income	38,358	26,942
Total shareholders' equity	2,202,601	2,076,284
Non-controlling interests	129,655	133,542
Total equity	2,332,256	2,209,826
Total liabilities and equity	10,110,116	9,577,625
Common shares, $0.01 par value, 294,000,000 shares authorized, 80,855,072 and 80,687,757 shares issued and outstanding, respectively
Shareholders' equity:
Common shares	809	807
Undesignated shares, $0.01 par value, 6,000,000 shares authorized, no shares issued and outstanding
Shareholders' equity:
Common shares	$ 0	$ 0

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Jun. 30, 2018	Dec. 31, 2017
Statement of Financial Position [Abstract]
Leasing equipment, accumulated depreciation and allowances	$ 2,441,745	$ 2,218,897
Accounts receivable, allowances	2,861	3,002
Finite-Lived Intangible Assets, Accumulated Amortization	177,187	144,081
Deferred financing costs	$ 44,603	$ 40,636
Designated Common Stock
Class of Stock [Line Items]
Common Shares, Shares Authorized (in shares)	294,000,000	294,000,000
Common Shares, Shares Issued (in shares)	80,855,072	80,687,757
Undesignated Common Stock
Class of Stock [Line Items]
Common Shares, Par Value (in dollars per share)	$ 0.01	$ 0.01
Common Shares, Shares Authorized (in shares)	6,000,000	6,000,000

Consolidated Statements of Inco

Consolidated Statements of Income - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Leasing revenues:
Operating leases	$ 324,954	$ 276,160	$ 635,185	$ 535,745
Finance leases	4,817	5,779	9,683	11,796
Total leasing revenues	329,771	281,939	644,868	547,541
Equipment trading revenues	18,099	12,755	31,474	18,239
Equipment trading expenses	(14,105)	(11,427)	(24,489)	(16,519)
Trading margin	3,994	1,328	6,985	1,720
Net gain on sale of leasing equipment	11,105	9,639	20,323	14,800
Net gain on sale of building	20,953	0	20,953	0
Operating expenses:
Depreciation and amortization	133,894	124,091	264,327	241,971
Direct operating expenses	10,195	15,609	21,243	37,563
Administrative expenses	20,775	22,068	40,357	45,035
Transaction and other (income) costs	(1)	836	(30)	3,308
(Benefit) provision for doubtful accounts	(25)	(113)	(126)	461
Total operating expenses	164,838	162,491	325,771	328,338
Operating income	200,985	130,415	367,358	235,723
Other expenses:
Interest and debt expense	79,027	70,777	154,125	134,281
Realized (gain) loss on derivative instruments, net	(492)	283	(740)	882
Unrealized (gain) loss on derivative instruments, net	(111)	789	(1,297)	(709)
Write-off of debt costs	503	43	503	43
Other (income), net	(585)	(974)	(1,244)	(1,716)
Total other expenses	78,342	70,918	151,347	132,781
Income before income taxes	122,643	59,497	216,011	102,942
Income tax expense	15,890	11,483	26,393	18,625
Net income	106,753	48,014	189,618	84,317
Less: income attributable to noncontrolling interest	1,883	2,343	3,856	4,035
Net income attributable to shareholders	$ 104,870	$ 45,671	$ 185,762	$ 80,282
Net income per common share—Basic	$ 1.31	$ 0.62	$ 2.32	$ 1.09
Net income per common share—Diluted	1.30	0.62	2.30	1.08
Cash dividends paid per common share	$ 0.52	$ 0.45	$ 0.97	$ 0.90
Weighted average number of common shares outstanding—Basic	80,044	73,763	80,007	73,752
Dilutive restricted shares and share options	611	414	589	356
Weighted average number of common shares outstanding—Diluted	80,655	74,177	80,596	74,108

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Statement of Comprehensive Income [Abstract]
Net income	$ 106,753	$ 48,014	$ 189,618	$ 84,317
Other comprehensive income:
Change in fair value of derivative instruments designated as cash flow hedges (net of income tax effect of $1,350, ($2,367), $4,704 and ($2,109), respectively)	5,005	(4,349)	17,464	(3,917)
Reclassification of (gain) loss on interest rate swap agreements designated as cash flow hedges (net of income tax effect of ($393), $204, ($745) and $461, respectively)	(1,461)	490	(2,933)	1,000
Tax reclassification to accumulated earnings for the adoption of ASU 2018-02	0	0	(3,029)	0
Foreign currency translation adjustment	(179)	115	(86)	112
Other comprehensive income (loss), net of tax	3,365	(3,744)	11,416	(2,805)
Comprehensive income	110,118	44,270	201,034	81,512
Other comprehensive income attributable to noncontrolling interest	1,883	2,343	3,856	4,035
Comprehensive Income (Loss), Net of Tax, Including Portion Attributable to Noncontrolling Interest	$ 108,235	$ 41,927	$ 197,178	$ 77,477

Consolidated Statements of Com6

Consolidated Statements of Comprehensive Income (Parenthetical) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Statement of Comprehensive Income [Abstract]
Change in fair value derivative instruments designated as cash flow hedges, income tax effect	$ 1,350	$ (2,367)	$ 4,704	$ (2,109)
Reclassification of realized loss on interest rate swap agreements designated as cash flow hedges, income tax effect	$ (393)	$ 204	$ (745)	$ 461

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Statement of Cash Flows [Abstract]
Net income	$ 106,753	$ 48,014	$ 189,618	$ 84,317
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Depreciation and amortization	133,894	124,091	264,327	241,971
Amortization of deferred financing cost and other debt related amortization			6,627	6,761
Lease related amortization			37,722	47,093
Share-based compensation expense	3,200	2,200	5,661	3,298
Net (gain) on sale of leasing equipment	(11,105)	(9,639)	(20,323)	(14,800)
Gain (Loss) on Sale of Properties	(20,953)	0	(20,953)	0
Unrealized (gain) on derivative instruments	(111)	789	(1,297)	(709)
Write-off of debt costs	503	43	503	43
Deferred income taxes			23,946	17,106
Changes in operating assets and liabilities:
Accounts receivable			(30,551)	(1,823)
Accounts payable and other accrued expenses			(16,788)	(25,396)
Net equipment sold for resale activity			(11,686)	248
Other assets			(1,218)	(656)
Net cash provided by operating activities			425,588	357,453
Cash flows from investing activities:
Purchases of leasing equipment and investments in finance leases			(884,007)	(665,473)
Proceeds from sale of equipment, net of selling costs			83,443	90,139
Proceeds from the sale of building			27,630	0
Cash collections on finance lease receivables, net of income earned			29,598	29,953
Other			(64)	55
Net cash (used in) in investing activities			(743,400)	(545,326)
Cash flows from financing activities:
Redemption of common shares for withholding taxes			(822)	0
Debt issuance costs			(9,567)	(19,844)
Borrowings under debt facilities			1,417,985	1,582,882
Payments under debt facilities and capital lease obligations			(1,049,996)	(1,180,787)
Dividends paid			(77,638)	(66,384)
Distributions to noncontrolling interests			(7,743)	(9,709)
Net cash provided by financing activities			272,219	306,158
Net (decrease) increase in cash, cash equivalents and restricted cash			(45,593)	118,285
Cash, cash equivalents and restricted cash, beginning of period			226,171	163,492
Cash, cash equivalents and restricted cash, end of period	180,578	281,777	180,578	281,777
Supplemental non-cash investing activities:
Interest paid			148,007	127,360
Equipment purchases payable	$ 159,454	$ 153,594	$ 159,454	$ 153,594

Description of the Business

Description of the Business	6 Months Ended
Description of the Business	Jun. 30, 2018
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Description of the Business, Basis of Presentation and Recently Adopted Accounting Pronouncements [Text Block]	Note 1—Description of the Business and Significant Accounting Policies Description of the Business Triton International Limited ("Triton" or the "Company"), through its subsidiaries, leases intermodal transportation equipment, primarily maritime containers, and provides maritime container management services through a worldwide network of service subsidiaries, third-party depots and other facilities. The majority of the Company's business is derived from leasing its containers to shipping line customers through a variety of long-term and short-term contractual lease arrangements. The Company also sells containers from its equipment leasing fleet as well as containers specifically acquired for resale from third parties. The Company's registered office is located in Bermuda. Basis of Presentation The unaudited consolidated financial statements and accompanying notes have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, these financial statements do not include all information and footnotes required by GAAP for complete financial statements. The interim consolidated balance sheet as of June 30, 2018 , the consolidated statements of operations and the consolidated statements of comprehensive income for the three and six months ended June 30, 2018 and 2017 , and the consolidated statements of cash flows for the six months ended June 30, 2018 and 2017 are unaudited. The consolidated balance sheet as of December 31, 2017 , included herein, was derived from the audited financial statements as of that date, but does not include all disclosures required by GAAP. These unaudited interim financial statements have been prepared on a basis consistent with the Company’s annual financial statements and, in the opinion of management, reflect all adjustments, which include only normal recurring adjustments necessary to state fairly the Company’s financial position, results of operations, comprehensive income, and cash flows for the periods presented. The financial data and the other financial information disclosed in the notes to the financial statements related to these periods are also unaudited. The consolidated results of operations for the three and six months ended June 30, 2018 are not necessarily indicative of the results to be expected for the fiscal year ending December 31, 2018 or for any other future annual or interim period. These financial statements should be read in conjunction with the Company’s audited consolidated financial statements and notes thereto as of and for the year ended December 31, 2017 included in the Company’s Annual Report on Form 10-K which was filed with the SEC on February 27, 2018 . The unaudited consolidated financial statements include the accounts of the Company and its wholly-owned subsidiaries. All intercompany balances and transactions have been eliminated in consolidation. Certain changes in presentation have been made to conform the prior period presentation to current period reporting. Use of Estimates The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the reported amounts of revenues and expenses during the reporting period and disclosure of contingent assets and liabilities in the financial statements. Such estimates include, but are not limited to, the Company's estimates in connection with leasing equipment, residual values, depreciable lives, values of assets held for sale and other long lived assets, provision for income tax, allowance for doubtful accounts, share-based compensation, goodwill and intangible assets. Actual results could differ from those estimates. Concentration of Credit Risk The Company's equipment leases and trade receivables subject it to potential credit risk. The Company extends credit to its customers based upon an evaluation of each customer's financial condition and credit history. Evaluations of the financial condition and associated credit risk of customers are performed on an ongoing basis. The Company's two largest customers CMA CGM S.A. and MSC Mediterranean Shipping Company S.A., accounted for 20% and 14% , respectively, of the Company's lease billings during the six months ended June 30, 2018 . New Accounting Pronouncements Recently Adopted Accounting Standards Updates In March 2016, the FASB issued ASU No. 2016-08, Revenue from Contracts with Customers (Topic 606): Principal versus Agent Considerations , amending previous updates regarding this topic. Leasing revenue recognition is specifically excluded from this ASU, and therefore, the new standard only applied to equipment trading revenues and sales of leasing equipment. The adoption of this ASU had minimal impact on the Company since the majority of its sales contracts are for containers and do not contain multiple elements. The standard allows for either “full retrospective” adoption, meaning the standard is applied to all of the periods presented, or “modified retrospective” adoption, meaning the standard is applied only to the most current period presented in the financial statements. The Company adopted the standard on January 1, 2018, using the modified retrospective approach. The adoption of Topic 606 did not impact its leasing revenue recognition model because, as noted above, leasing revenue recognition, including ancillary fees, is specifically excluded from this ASU. The Company has assessed the requirements of the new revenue standard with respect to its equipment trading revenue and sales of leasing equipment and has concluded that the timing and amount of recognition was not materially affected based on the fact that there generally are no long-term contracts, multiple element arrangements, or significant customer acquisition costs related to these revenue streams. The Company also considered the requirement to present disaggregated revenue for its equipment trading revenue and sales of leasing equipment upon the adoption of Topic 606. The Company currently presents these revenue items separately in its statement of operations. As a result, the Company has concluded that the adoption of Topic 606 does not have a significant impact on either the timing of its revenue recognition or manner of presentation. In August 2016, the FASB issued ASU No. 2016-15, Statement of Cash Flows (Topic 230): Classification of Certain Receipts and Cash Payments . The updated amendment provides guidance as to where certain cash flow items are presented, including debt prepayment or debt extinguishment costs and proceeds from the settlement of insurance claims. The Company adopted the standard on January 1, 2018. The adoption of this ASU did not have an impact on the consolidated financial statements since none of the cash flows items specified in the guidance are currently presented in the Company's consolidated statement of cash flows. In October 2016, the FASB issued ASU No. 2016-16, Accounting for Income Taxes (Topic 740) : Intra-Entity Transfers of Assets Other than Inventory . The ASU eliminates the deferral of the tax effects of intra-entity asset transfers other than inventory. As a result, the tax expense from the intercompany sale of assets, other than inventory, and associated changes to deferred taxes will be recognized when the sale occurs even though the pre-tax effects of the transaction have not been recognized. The Company adopted the standard on January 1, 2018. The adoption of this ASU did not have a significant impact on its consolidated financial statements. In November 2016, the FASB issued ASU No. 2016-18, Statement of Cash Flows (Topic 230): Restricted Cash . The amendments in this ASU require that a statement of cash flows explain the change during the period in the total of cash, cash equivalents and amounts generally described as restricted cash or restricted cash equivalents. As a result, amounts generally described as restricted cash and restricted cash equivalents should be included with cash and cash equivalents when reconciling the beginning-of-period and end-of-period total amounts shown on the statement of cash flows. The amendments do not provide a definition of restricted cash or restricted cash equivalents. The Company adopted this guidance on January 1, 2018 using the retrospective approach. Upon adoption, the Company recorded an increase of $61.8 million in net cash provided by financing activities for the six months ended June 30, 2017 related to presentation changes of its restricted cash balance from financing activities to the cash, cash equivalents and restricted cash balance within the consolidated statements of cash flows. In May 2017, the FASB issued ASU 2017-09, Compensation-Stock Compensation (Topic 718): Scope of Modification Accounting. ASU 2017-09 provides clarification on when modification accounting should be used for changes to the terms or conditions of a share-based payment award. This ASU does not change the accounting for modifications but clarifies that modification accounting guidance should only be applied if there is a change to the value, vesting conditions, or award classification and would not be required if the changes are considered non-substantive. The Company adopted the standard on January 1, 2018 on a prospective basis. The adoption of this ASU did not have an impact on the consolidated financial statements since the Company did not modify its share-based payment awards since adoption of the standard. In February 2018, the FASB issued ASU 2018-02, Income Statement - Reporting Comprehensive Income (Topic 220): Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income . This ASU allows a reclassification from accumulated other comprehensive income to accumulated earnings for tax effects resulting from the Tax Cuts and Jobs Act (the “Act”) and requires certain new disclosures. ASU 2018-02 will be effective for the Company for fiscal years beginning after December 15, 2018, with early adoption permitted. The update should be applied either in the period of adoption or retrospectively to each period in which the effect of the change in the U.S. federal corporate income tax rate in the Act is recognized. The Company elected to adopt this ASU in the first quarter of 2018 by making a one-time reclassification in the period of change of stranded tax effects from accumulated other comprehensive income to accumulated earnings related to the change in tax rates resulting from the Act. The reclassified amount of $3.0 million represents the difference between the amount initially recorded directly to accumulated other comprehensive income at the previously enacted US federal corporate income tax rate as of December 31, 2017 and the amount that would have been recorded directly to accumulated other comprehensive income as of December 31, 2017 by using the newly enacted US federal corporate income tax rate. In March 2018, the FASB issued ASU No. 2018-05, Income Taxes (Topic 740): Amendments to SEC Paragraphs Pursuant to SEC Staff Accounting Bulletin No. 118 . The amendments in this update add various Securities and Exchange Commission (“SEC) paragraphs pursuant to the issuance of SEC Accounting Bulletin No. 118, Income Tax Accounting Implications of the Tax Cuts and Jobs Act (“SAB 118”). The SEC issued SAB 118 to address concerns about reporting entities’ ability to timely comply with the accounting requirements to recognize all of the effects of the Act in the period of enactment. SAB 118 allows disclosure that timely determination of some or all of the income tax effects from the Act are incomplete by the due date of the financial statements and if possible to provide a reasonable estimate. The Company recorded the effects of the change in the tax law pursuant to SAB 118 as of December 31, 2017. The Company adopted the standard on January 1, 2018. There were no updates to the amounts recorded as of December 31, 2017 during the first six months of 2018. Recently Issued Accounting Standards Updates In February 2016, the FASB issued ASU No. 2016-02, Leases (Topic 842) that replaces existing lease accounting guidance. The accounting standard will require lessees to recognize a right of use asset and a corresponding lease liability on their balance sheets. The accounting that will be applied by lessors under ASC 842 is largely unchanged from previous GAAP. Certain targeted improvements were made to align, where necessary, lessor accounting with the lessee accounting model and ASC 606, Revenue from Contracts with Customers . We currently plan to adopt the standard on its effective date of January 1, 2019. We are currently quantifying the expected recognition on our balance sheet for a right to use asset and a lease liability as required by the standard. We do not expect the adoption of the standard to have a significant impact on the consolidated financial statements. In June 2016, the FASB issued ASU 2016-13, Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments. The guidance affects trade receivables and net investments in leases and requires the measurement of expected credit losses to be based on relevant information from past events, including historical experiences, current conditions and reasonable and supportable forecasts that affect collectability. The new guidance will be effective for fiscal years and interim periods beginning after December 15, 2019 and early adoption is permitted for fiscal years beginning after December 15, 2018, including interim periods within those fiscal years. Different components of the guidance require modified retrospective and/or prospective adoption. Based on the composition of the Company's receivables, current market conditions and historical credit loss activity, the Company does not expect the adoption of this ASU to have a significant impact on the consolidated financial statements. In August 2017, FASB issued ASU 2017-12, Derivatives and Hedging (Topic 815): Targeted Improvements to Accounting for Hedging Activities. ASU 2017-12 changes the recognition and presentation requirements of hedge accounting, including: eliminating the requirement to separately measure and report hedge ineffectiveness; and presenting all items that affect earnings in the same income statement line item as the hedged item. The ASU also provides new alternatives for: applying hedge accounting to additional hedging strategies; measuring the hedged item in fair value hedges of interest rate risk; reducing the cost and complexity of applying hedge accounting by easing the requirements for effectiveness testing, hedge documentation and application of the critical terms match method; and reducing the risk of material error correction if a company applies the shortcut method inappropriately. This ASU is effective for interim periods beginning after December 15, 2018. The Company is currently evaluating the impact of this ASU on the consolidated financial statements. In June 2018, the FASB issued ASU 2018-07 (Topic 718): Improvements to Nonemployee Share-Based Payment Accounting that expands the scope of Topic 718 to include share-based payment transactions for acquiring goods and services from nonemployees. An entity should apply the requirements of Topic 718 to nonemployee awards except for certain exemptions specified in the amendment. The guidance is effective for fiscal years beginning after December 15, 2018, including interim reporting periods within that fiscal year. Early adoption is permitted, but no earlier than an entity’s adoption date of Topic 606. The Company is currently evaluating the impact of the guidance on its consolidated financial statements.

Fair Value of Financial Instrum

Fair Value of Financial Instruments	6 Months Ended
Fair Value of Financial Instruments	Jun. 30, 2018
Fair Value Disclosures [Abstract]
Fair Value of Financial Instruments	Note 2—Fair Value of Financial Instruments Fair value represents the price that would be received upon the sale of an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. The Company uses the following fair value hierarchy when selecting inputs for its valuation techniques, with the highest priority given to Level 1: • Level 1—quoted prices (unadjusted) in active markets for identical assets or liabilities; • Level 2—inputs other than quoted prices included within Level 1 that are either directly or indirectly observable; and • Level 3—unobservable inputs in which little or no market activity exists, therefore requiring an entity to develop its own assumptions about the assumptions that market participants would use in pricing. Fair Value of Debt The Company does not measure debt, net of unamortized debt costs, at fair value in its consolidated balance sheets. The fair value was measured using Level 2 inputs and the carrying value and fair value are summarized in the following table (in thousands): June 30, December 31, Liabilities Total debt - carrying value (1) $ 7,348,568 $ 6,979,877 Total debt - fair value $ 7,328,218 $ 6,991,537 (1) Excludes unamortized debt costs of $44.6 million and $40.6 million and purchase price debt adjustments of $21.9 million and $27.5 million as of June 30, 2018 and December 31, 2017 , respectively. Fair Value of Equipment Held for Sale The Company’s equipment held for sale fair value is measured using Level 2 inputs and is based on recent sales prices and other factors. Equipment held for sale is recorded at the lower of fair value or carrying value and an impairment charge is recorded when the carrying value of the asset exceeds its fair value. The following table summarizes the portion of the Company’s equipment held for sale measured at fair value and the cumulative impairment charges recorded to net gain on sale of leasing equipment through the periods summarized below (in thousands): June 30, December 31, Assets Equipment held for sale - assets at fair value (1) $ 4,193 $ 6,104 Cumulative impairment charges (2) $ (1,462 ) $ (2,242 ) (1) Represents the fair value of containers included in equipment held for sale in the consolidated balance sheets that have been impaired to write down the carrying value of the containers to their estimated fair value less cost to sell. (2) Represents the cumulative impairment charges recognized on equipment held for sale from the date of designated held for sale status to the indicated period end date. The Company recognized net impairment charges of $0.5 million and $1.4 million for the three and six months ended June 30, 2018 , respectively. The Company recognized net impairment reversals of $0.5 million and $ 1.0 million for the three and six months ended June 30, 2017 , respectively. Fair Value of Derivative Instruments The Company has elected to use the income approach to value its interest rate swap and cap agreements, using Level 2 market expectations at the measurement date and standard valuation techniques to convert future amounts to a single present amount (discounted) assuming that participants are motivated, but not compelled to transact. The Level 2 inputs for the interest rate swap and cap valuations are inputs other than quoted prices that are observable for the asset or liability (specifically LIBOR and swap rates, basis swap adjustments and credit risk at commonly quoted intervals). The fair value of derivative instruments on its consolidated balance sheets as of June 30, 2018 and December 31, 2017 was as follows (in thousands): Asset Derivatives Liability Derivatives Derivative Instrument June 30, 2018 December 31, 2017 June 30, 2018 December 31, 2017 Interest rate swap contracts, designated $ 24,347 $ 3,554 $ — $ 2,503 Interest rate swap contracts, not designated 5,119 3,822 — — Interest rate cap, designated 1 — — — Total derivatives $ 29,467 $ 7,376 $ — $ 2,503 Fair Value of Other Assets and Liabilities Cash and cash equivalents, restricted cash, accounts receivable, equipment purchases payable and accounts payable carrying amounts approximate fair values because of the short-term nature of these instruments. The Company’s other financial and non-financial assets, which include leasing equipment, finance leases, intangible assets and goodwill, are not required to be measured at fair value on a recurring basis. However, if certain triggering events occur, or if an annual impairment test is required, and the Company determines that these other financial and non-financial assets are impaired after completing an evaluation, these assets would be written down to their fair value.

Share Based Compensation and Ot

Share Based Compensation and Other Equity Matters	6 Months Ended
Share Based Compensation and Other Equity Matters	Jun. 30, 2018
Equity [Abstract]
Capital Stock and Stock Options	Note 3—Share-Based Compensation and Other Equity Matters The Company recognizes share-based compensation expense for share-based payment transactions based on the grant date’s fair value. The expense is recognized over the employee's requisite service period which is generally the vesting period of the equity award. The Company recognized $3.2 million and $2.2 million of share-based compensation expense in administrative expenses for the three months ended June 30, 2018 and 2017 , respectively, and recognized $5.7 million and $3.3 million of share-based compensation expense in administrative expenses for the six months ended June 30, 2018 and 2017 . Included in the expense are certain performance-based share expense where the achievement of the performance condition was deemed probable. As of June 30, 2018 , the total unrecognized compensation expense related to non-vested restricted shares was approximately $10.5 million , which is expected to be recognized through 2020. During the six months ended June 30, 2018 , the Company granted 138,445 time-based restricted shares and canceled 28,838 vested shares to settle payroll taxes on behalf of employees. Additional shares may be accrued and granted based upon the Company's performance measured against selected peers. On May 2, 2018, the Company granted 39,320 shares to non-employee directors at a fair value of $31.85 per share that vested immediately. Accumulated Other Comprehensive Income The following table summarizes the components of accumulated other comprehensive income, net of tax, for the six months ended June 30, 2018 and 2017 (in thousands): Cash Flow Foreign Accumulated Other Comprehensive (Loss) Income Balance as of December 31, 2017 $ 31,215 $ (4,273 ) $ 26,942 Change in fair value of derivative instruments designated as cash flow hedges 17,464 — 17,464 Reclassification of (gain) on interest rate swap agreements designated as cash flow hedges (2,933 ) — (2,933 ) Tax reclassification for the adoption of ASU 2018-02 accumulated earnings (3,029 ) — (3,029 ) Foreign currency translation adjustment — (86 ) (86 ) Other comprehensive income 11,502 (86 ) 11,416 Balance as of June 30, 2018 $ 42,717 $ (4,359 ) $ 38,358 Cash Flow Foreign Accumulated Other Comprehensive (Loss) Income Balance as of December 31, 2016 $ 31,182 $ (4,424 ) $ 26,758 Change in fair value of derivative instruments designated as cash flow hedges (3,917 ) — (3,917 ) Reclassification of loss on interest rate swap agreements designated as cash flow hedges 1,000 — 1,000 Foreign currency translation adjustment — 112 112 Other comprehensive income (loss) (2,917 ) 112 (2,805 ) Balance as of June 30, 2017 $ 28,265 $ (4,312 ) $ 23,953 The following table summarizes the reclassifications out of accumulated other comprehensive income (in thousands): Amounts Reclassified From Accumulated Other Comprehensive Income Affected Line Item in the Consolidated Statements of Income Three Months Ended June 30, Six Months Ended June 30, 2018 2017 2018 2017 Reclassification of (gain) loss on interest rate swap agreements $ (1,854 ) $ 694 $ (3,678 ) $ 1,461 Interest and debt expense Income tax expense (benefit) 393 (204 ) 745 (461 ) Income tax expense Amounts reclassified from accumulated other comprehensive income, net of tax $ (1,461 ) $ 490 $ (2,933 ) $ 1,000 Net income

Debt

Debt	6 Months Ended
Debt	Jun. 30, 2018
Debt Disclosure [Abstract]
Debt	Note 4—Debt Debt consisted of the following (in thousands): June 30, December 31, Institutional notes $ 2,239,057 $ 2,381,000 Asset-backed securitization term notes 3,004,419 2,378,470 Term loan facilities 1,496,942 1,701,998 Asset-backed warehouse facility 175,000 110,000 Revolving credit facilities 340,000 305,000 Capital lease obligations 93,150 103,409 Total debt outstanding 7,348,568 6,979,877 Debt costs (44,603 ) (40,636 ) Unamortized fair value debt adjustment (21,909 ) (27,516 ) Debt, net of unamortized debt costs $ 7,282,056 $ 6,911,725 The Company is subject to certain financial covenants under its debt agreements. The agreements remain the obligations of the respective subsidiaries, and all related debt covenants are calculated at the subsidiary level. As of June 30, 2018 and December 31, 2017 , the Company was in compliance with all financial covenants in accordance with the terms of its debt agreements. As of June 30, 2018 , the Company had $4,813.0 million of total debt outstanding on facilities with fixed interest rates. These fixed rate facilities had a contractual weighted average interest rate of 4.24% , are scheduled to mature between 2018 and 2029 , and had a weighted average remaining term of 4.3 years as of June 30, 2018 . As of June 30, 2018 , the Company had $2,535.5 million of debt outstanding on facilities with interest rates based on floating rate indices (LIBOR). These floating rate facilities had a contractual weighted average interest rate of 4.11% , are scheduled to mature between 2018 and 2024 , and had a weighted average remaining term of 2.8 years as of June 30, 2018 . Including the impact of the Company's interest rate swaps, the contractual weighted average interest rate on its floating rate facilities was 4.01% as of June 30, 2018 . The Company hedges the risks associated with fluctuations in interest rates on a portion of its floating rate borrowings by entering into interest rate swap agreements that convert a portion of its floating rate debt to a fixed rate basis, thus reducing the impact of interest rate changes on future interest expense. As of June 30, 2018 , the Company had interest rate swaps in place with a notional amount of $1,225.2 million to fix the floating interest rates on a portion of its floating rate debt obligations, with a weighted average fixed leg interest rate of 1.88% and a weighted average remaining term of 4.1 years . As of June 30, 2018 , the Company had $6,038.2 million of total debt on facilities with fixed interest rates or floating interest rates that have been synthetically fixed through interest rate swap contracts. This accounts for 82.2% of total debt. These facilities had a contractual weighted average interest rate of 4.17% and a weighted average remaining term of 4.2 years as of June 30, 2018 . Overall, the Company's total debt had a contractual weighted average interest rate of 4.16% as of June 30, 2018 , including the impact of the swap contracts. The Company wrote-off $0.5 million of debt related costs for the three and six months ended June 30, 2018 and wrote-off a minimal amount of debt related costs for the three and six months ended June 30, 2017 . Institutional Notes In accordance with the institutional note agreements, interest payments on the Company's institutional notes are due semi-annually. Institutional note maturities typically range from 7 - 12 years, with level principal payments due annually following an interest-only period. The Company's institutional notes are pre-payable (in whole or in part) at the Company's option at any time, subject to certain provisions in the note agreements, including the payment of a make-whole premium in respect to such prepayment. These facilities provide for an advance rate against the net book values of designated eligible equipment generally in the range from 83% to 85% . These institutional notes had a contractual weighted average interest rate of 4.74% as of June 30, 2018 and are scheduled to mature between 2018 and 2029 . Asset-Backed Securitization Term Notes Under the Company’s Asset-Backed Securitization (“ABS”) facilities, indirect wholly-owned subsidiaries of the Company issue asset-backed notes. The issuance of asset-backed notes is the primary business objective of those subsidiaries. The ABS facilities are intended to be bankruptcy remote so that such assets are not available to creditors of the Company or its affiliates until and unless the related secured borrowings have been fully discharged. These transactions do not meet accounting requirements for sales treatment and are recorded as secured borrowings. The Company’s borrowings under the ABS facilities amortize in monthly installments, typically in level payments over ten years. These facilities provide for an advance rate against the net book values of designated eligible equipment generally in the range from 77% to 87% . The net book values for purposes of calculating eligible equipment is determined according to the related debt agreement and may be different than those calculated per U.S. GAAP. The Company is required to maintain restricted cash balances on deposit in designated bank accounts equal to three to nine months of interest expense depending on the terms of each facility. These asset-backed securitization term notes had a contractual weighted average interest rate of 3.87% as of June 30, 2018 and are scheduled to mature between 2018 and 2028 . On March 20, 2018, the Company completed an offering of $450.0 million of Class A and B fixed rate asset-backed notes. The notes have a contractual weighted average interest rate of 3.99% and a scheduled maturity of March 20, 2028. On June 20, 2018, the Company completed an offering of $367.9 million of Class A and B fixed rate asset-backed notes. The notes have a contractual weighted average interest rate of 4.23% and a scheduled maturity of June 20, 2028. Term Loan Facilities The term loan facilities amortize in monthly or quarterly installments. These facilities provide for an advance rate against the net book values of designated eligible equipment generally in the range from 80% to 83% . These term loan facilities had a contractual weighted average interest rate of 4.09% as of June 30, 2018 , and are scheduled to mature between 2019 and 2022 . On April 20, 2018, the Company sold an office building for net proceeds of $27.6 million and recorded a gain on sale of $21.0 million . The proceeds of the sale were used to pay off the mortgage balance of $18.3 million plus accrued interest of $0.1 million . On May 31, 2018, the Company extinguished a term loan and paid the outstanding balance of $93.9 million . The Company wrote-off debt costs of $0.5 million relating to the loan. Asset-Backed Warehouse Facilities Under the Company’s asset-backed warehouse facilities, indirect wholly-owned subsidiaries of the Company issue asset-backed notes. The issuance of asset-backed notes is the primary business objective of those subsidiaries. The asset-backed warehouse facilities are intended to be bankruptcy remote so that such assets are not available to creditors of the Company or its affiliates until and unless the related secured borrowings have been fully discharged. These transactions do not meet accounting requirements for sales treatment and are recorded as secured borrowings. The Company has two asset-backed warehouse facilities which have a combined maximum borrowing capacity of $600.0 million . One facility has a maximum borrowing capacity of $200.0 million which is available on a revolving basis until March 10, 2019, after which any borrowings would convert to term notes with a maturity date of March 21, 2022. This facility has a contractual interest rate of three-month LIBOR plus 2.25% margin until the conversion date when it would have a contractual interest rate of three-month LIBOR plus 3.25% . The second facility has a maximum borrowing capacity of $400.0 million which is available on a revolving basis until September 28, 2020, after which any borrowings would convert to term notes with a maturity date of September 20, 2024. This facility has a contractual interest rate of one-month LIBOR plus 1.85% margin until the conversion date when it would have a contractual interest rate of one-month LIBOR plus 2.85% . As of June 30, 2018 , the asset-backed warehouse facilities had a contractual weighted average interest rate of 3.93% and are scheduled to mature between 2022 and 2024 . During the revolving period, the borrowing capacity under the facilities is determined by applying an advance rate against the net book values of designated eligible equipment. The approximate average advance rate for the two facilities is 80% . The net book values for purposes of calculating eligible equipment is determined according to the related debt agreement and may be different than those calculated per U.S. GAAP. The Company is required to maintain restricted cash balances on deposit in designated bank accounts equal to three to five months of interest expense. Revolving Credit Facilities The revolving credit facilities have a maximum borrowing capacity of $1,175.0 million . These facilities provides for an advance rate against the net book values of designated eligible equipment. The approximate average advance rate for these facilities is 83% . The revolving credit facilities had a contractual weighted average interest rate of 4.15% as of June 30, 2018 and are scheduled to mature between 2020 and 2022 . On May 8, 2018, the Company increased its credit limit on one of its asset-backed revolving credit facilities from $1,025.0 million to $1,125.0 million . This revolving credit facility’s contractual weighted average interest rate remained at one-month LIBOR plus 2.00% . Capital Lease Obligations The Company has entered into a series of direct finance lease transactions with various financial institutions to finance chassis and containers. Each lease is accounted for as a capital lease, with interest expense recognized on a level yield basis over the period preceding early purchase options, if any, which is generally three to ten years from the transaction date. These agreements have fixed interest rates ranging from 3.26% to 4.93% , and mature between 2018 and 2024 .

Derivative Instruments

Derivative Instruments	6 Months Ended
Derivative Instruments	Jun. 30, 2018
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative Instruments	Note 5—Derivative Instruments Interest Rate Hedging The Company enters into interest rate swap agreements to manage interest rate risk exposure. Interest rate swap agreements are utilized to limit the Company's exposure to interest rate risk by converting a portion of its floating rate debt to a fixed rate basis, thus reducing the impact of interest rate changes on future interest expense. These agreements involve the receipt of floating rate amounts in exchange for fixed rate interest payments over the lives of the agreements without an exchange of the underlying principal amounts. The counterparties to the Company's interest rate swap agreements are highly rated financial institutions. In the unlikely event that the counterparties fail to meet the terms of the interest rate swap agreements, the Company's exposure is limited to the interest rate differential on the notional amount at each monthly settlement period over the life of the agreements. The Company does not anticipate any non-performance by the counterparties. Substantially all of the assets of certain indirect, wholly-owned subsidiaries of the Company have been pledged as collateral for the underlying indebtedness and the amounts payable under the interest rate swap agreements for each of these entities. In addition, certain assets of the Company's subsidiaries, are pledged as collateral for various credit facilities and the amounts payable under certain interest rate swap agreements. The Company entered into an interest rate cap agreement during the first quarter of 2018 for a total notional amount of $400.0 million . The agreement is amortizing over a one year term. The Company has designated this interest rate cap agreement as a cash flow hedge for accounting purposes. As of June 30, 2018 , the Company had interest rate swap and cap agreements in place to fix the floating interest rates on a portion of the borrowings under its debt facilities as summarized below: Derivatives Net Notional Amount Weighted Average Cap Rate Weighted Average Interest rate swaps $ 1,225.2 Million 1.88% n/a 4.1 years Interest rate cap $ 391.7 Million n/a 2.9% 0.6 years The following table summarizes the impact of derivative instruments on the consolidated statements of operations and the consolidated statements of comprehensive income on a pretax basis (in thousands): Three Months Ended June 30, Six Months Ended June 30, Derivative instrument Financial statement caption 2018 2017 2018 2017 Non-designated interest rate swaps Realized (gain) loss on derivative instruments, net $ (492 ) $ 283 $ (740 ) $ 882 Non-designated interest rate swaps Unrealized (gain) loss on derivative instruments, net $ (111 ) $ 789 $ (1,297 ) $ (709 ) Designated interest rate swaps Other comprehensive (income) loss $ (6,355 ) $ 6,716 $ (22,168 ) $ 6,026 Designated interest rate swaps Interest and debt (income) expense $ (1,854 ) $ 694 $ (3,678 ) $ 1,461

Segment and Geographic Informat

Segment and Geographic Information	6 Months Ended
Segment and Geographic Information	Jun. 30, 2018
Segment Reporting [Abstract]
Segment and Geographic Information	Note 6—Segment and Geographic Information Segment Information The Company operates its business in one industry, intermodal transportation equipment, and has two operating segments which also represent its reporting segments: • Equipment leasing—the Company owns, leases and ultimately disposes of containers and chassis from its lease fleet. • Equipment trading—the Company purchases containers from shipping line customers, and other sellers of containers, and resells these containers to container retailers and users of containers for storage or one-way shipment. Included in the equipment trading segment revenues are leasing revenues from equipment purchased for resale that is currently on lease until the containers are dropped off. • These operating segments were determined based on the chief operating decision maker's review and resource allocation of the products and service offered. The following tables summarize segment information and the consolidated totals reported (in thousands): Three Months Ended June 30, 2018 2017 Equipment Equipment Totals Equipment Equipment Totals Total leasing revenues $ 328,188 $ 1,583 $ 329,771 $ 280,995 $ 944 $ 281,939 Trading margin — 3,994 3,994 — 1,328 1,328 Net gain on sale of leasing equipment 11,105 — 11,105 9,639 — 9,639 Depreciation and amortization expense 133,810 84 133,894 123,932 159 124,091 Interest and debt expense 78,641 386 79,027 70,365 412 70,777 Realized (gain) loss on derivative instruments, net (491 ) (1 ) (492 ) 283 — 283 Income before income taxes (1)(2) 116,430 6,605 123,035 58,466 1,863 60,329 (1) Segment income before income taxes excludes unrealized gains or losses on derivative instruments and the write-off of debt costs. Unrealized gains on derivative instruments of $0.1 million and unrealized losses of $0.8 million for the three months ended June 30, 2018 and 2017 , respectively. Write-off of debt costs was $0.5 million and a minimal amount for the three months ended June 30, 2018 and 2017 , respectively. (2) Equipment leasing segment includes gain on sale of an office building of $21.0 million for the three months ended June 30, 2018 . Six Months Ended June 30, 2018 2017 Equipment Equipment Totals Equipment Equipment Totals Total leasing revenues $ 642,617 $ 2,251 $ 644,868 $ 545,854 $ 1,687 $ 547,541 Trading margin — 6,985 6,985 — 1,720 1,720 Net gain on sale of leasing equipment 20,323 — 20,323 14,800 — 14,800 Depreciation and amortization expense 263,664 663 264,327 241,653 318 241,971 Interest and debt expense 153,415 710 154,125 133,493 788 134,281 Realized (gain) loss on derivative instruments, net (739 ) (1 ) (740 ) 882 — 882 Income before income taxes (1)(2) 206,396 8,821 215,217 100,098 2,178 102,276 (1) Segment income before income taxes excludes unrealized gains or losses on derivative instruments and the write-off of debt costs. Unrealized gains on derivative instruments were $1.3 million and $0.7 million for the six months ended June 30, 2018 and 2017 , respectively. Write-off of debt costs was $0.5 million and a minimal amount for the six months ended June 30, 2018 and 2017 , respectively. (2) Equipment leasing segment includes gain on sale of an office building of $21.0 million for the six months ended June 30, 2018 . June 30, 2018 December 31, 2017 Equipment Equipment Totals Equipment Equipment Totals Equipment held for sale $ 25,712 $ 24,356 $ 50,068 $ 31,534 $ 11,661 $ 43,195 Goodwill 220,864 15,801 236,665 220,864 15,801 236,665 Total assets 10,055,673 54,443 10,110,116 9,534,330 43,295 9,577,625 There are no intercompany revenues or expenses between segments. Certain administrative expenses have been allocated between segments based on an estimate of services provided to each segment. A portion of the Company's equipment purchased for resale was purchased through certain sale-leaseback transactions with its shipping line customers. Due to the expected longer term nature of these transactions, these purchases are reflected as leasing equipment as opposed to equipment held for sale and the cash flows associated with these transactions are reflected as purchases of leasing equipment and proceeds from the sale of equipment in investing activities in the Company's consolidated statements of cash flows. Geographic Segment Information The Company generates the majority of its leasing revenues from international containers which are deployed by its customers in a wide variety of global trade routes. The majority of the Company's leasing related revenue is denominated in U.S. dollars. The following table summarizes the geographic allocation of equipment leasing revenues for the three and six months ended June 30, 2018 and 2017 based on the Company's customers' primary domicile (in thousands): Three Months Ended June 30, Six Months Ended June 30, 2018 2017 2018 2017 Total equipment leasing revenues: Asia $ 134,751 $ 120,393 $ 264,941 $ 234,770 Europe 154,482 123,294 298,131 242,663 Americas 30,102 27,560 61,152 49,449 Other International 9,715 10,417 19,310 20,268 Bermuda 721 275 1,334 391 Total $ 329,771 $ 281,939 $ 644,868 $ 547,541 Since the majority of the Company's containers are used internationally, where no one container is domiciled in one particular place for a prolonged period of time, all of the Company's long-lived assets are considered to be international. The following table summarizes the geographic allocation of equipment trading revenues for the three and six months ended June 30, 2018 and 2017 based on the location of the sale (in thousands): Three Months Ended June 30, Six Months Ended June 30, 2018 2017 2018 2017 Total equipment trading revenues: Asia $ 3,261 $ 6,523 $ 5,715 $ 8,480 Europe 5,064 2,632 9,353 4,218 Americas 7,773 2,580 12,757 3,699 Other International 2,001 998 3,649 1,820 Bermuda — 22 — 22 Total $ 18,099 $ 12,755 $ 31,474 $ 18,239

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
Commitments and Contingencies	Jun. 30, 2018
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Note 7—Commitments and Contingencies Lease Commitments The Company has cancelable and non-cancelable operating lease agreements principally for facilities and office equipment used in the Company’s operations. Total operating lease rental expense included in administrative expenses on the consolidated statements of operations was $0.7 million and $0.6 million for the three months ended June 30, 2018 and 2017 , respectively. Total operating lease rental expense included in administrative expenses on the consolidated statements of operations was $1.4 million and $1.2 million for the six months ended June 30, 2018 and 2017 , respectively. Contingencies The Company is party to various pending or threatened legal or regulatory proceedings arising in the ordinary course of its business. Based upon information presently available, the Company does not expect any liabilities arising from these matters to have a material effect on the consolidated financial position, results of operations or cash flows of the Company. Container Equipment Purchase Commitments At June 30, 2018 , the Company had commitments to purchase equipment in the amount of $269.9 million payable in 2018. Severance Plan The Company established severance plans in order to provide severance benefits to eligible employees who are involuntarily terminated for reasons other than cause, or who resign for “good reason”. Employees eligible for benefits under the severance plans would receive a severance and other benefits based upon their tenure. The following table summarizes changes to the Company’s total severance balance (in thousands): Total Balance at December 31, 2017 $ 9,677 Accrual — Payments / Adjustments (4,363 ) Balance at June 30, 2018 $ 5,314

Income Taxes

Income Taxes	6 Months Ended
Income Taxes	Jun. 30, 2018
Income Tax Disclosure [Abstract]
Income Taxes	Note 8—Income Taxes The Company's effective tax rates were 13.0% and 19.3% for the three months ended June 30, 2018 and 2017 , and 12.2% and 18.1% for the six months ended June 30, 2018 and 2017 , respectively. The Company has computed the provision for income taxes based on the estimated annual effective tax rate and the application of discrete items, if any, in the applicable period. The decrease in the effective tax rate is primarily due to a decrease in the U.S. federal income tax rate from 35% to 21% resulting from passage of the Tax Cuts and Jobs Act on December 22, 2017.

Related Party Transactions

Related Party Transactions	6 Months Ended
Related Party Transactions	Jun. 30, 2018
Related Party Transactions [Abstract]
Related Party Transactions	Note 9—Related Party Transactions The Company holds a 50% interest in TriStar Container Services (Asia) Private Limited (“TriStar”), which is primarily engaged in the selling and leasing of container equipment in the domestic and short sea markets in India. The Company's equity investment in TriStar is included in other assets on the consolidated balance sheet. The following table summarizes payments, direct finance lease, and a loan payable balance with TriStar (in thousands): Three Months Ended June 30, Six Months Ended June 30, 2018 2017 2018 2017 Payments received from TriStar on direct finance leases $ 450 $ 472 $ 962 $ 896 Payments received from TriStar on loan payable $ — $ 43 $ — $ 85 June 30, December 31, Direct finance lease balance $ 11,203 $ 10,648 Loan payable balance $ — $ —

Subsequent Events

Subsequent Events	6 Months Ended
Subsequent Events	Jun. 30, 2018
Subsequent Events [Abstract]
Subsequent Events	Note 10—Subsequent Events Quarterly Dividend On August 1, 2018 , the Company's Board of Directors approved and declared a $0.52 per share quarterly cash dividend on its issued and outstanding common shares, payable on September 25, 2018 to shareholders of record at the close of business on September 4, 2018 . Term Loan Facilities On August 1, 2018, the Company extended the term on one of its term loan facilities by three years. This facility will mature in April 2022. Share Repurchase Authorization On August 1, 2018, the Company's Board of Directors authorized the repurchase of up to $200 million of its common shares.

Description of the Business, Ba

Description of the Business, Basis of Presentation and Recently Adopted Accounting Pronouncements (Policies)	6 Months Ended
	Jun. 30, 2018
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	Basis of Presentation The unaudited consolidated financial statements and accompanying notes have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, these financial statements do not include all information and footnotes required by GAAP for complete financial statements. The interim consolidated balance sheet as of June 30, 2018 , the consolidated statements of operations and the consolidated statements of comprehensive income for the three and six months ended June 30, 2018 and 2017 , and the consolidated statements of cash flows for the six months ended June 30, 2018 and 2017 are unaudited. The consolidated balance sheet as of December 31, 2017 , included herein, was derived from the audited financial statements as of that date, but does not include all disclosures required by GAAP. These unaudited interim financial statements have been prepared on a basis consistent with the Company’s annual financial statements and, in the opinion of management, reflect all adjustments, which include only normal recurring adjustments necessary to state fairly the Company’s financial position, results of operations, comprehensive income, and cash flows for the periods presented. The financial data and the other financial information disclosed in the notes to the financial statements related to these periods are also unaudited. The consolidated results of operations for the three and six months ended June 30, 2018 are not necessarily indicative of the results to be expected for the fiscal year ending December 31, 2018 or for any other future annual or interim period. These financial statements should be read in conjunction with the Company’s audited consolidated financial statements and notes thereto as of and for the year ended December 31, 2017 included in the Company’s Annual Report on Form 10-K which was filed with the SEC on February 27, 2018 . The unaudited consolidated financial statements include the accounts of the Company and its wholly-owned subsidiaries. All intercompany balances and transactions have been eliminated in consolidation. Certain changes in presentation have been made to conform the prior period presentation to current period reporting. Use of Estimates The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the reported amounts of revenues and expenses during the reporting period and disclosure of contingent assets and liabilities in the financial statements. Such estimates include, but are not limited to, the Company's estimates in connection with leasing equipment, residual values, depreciable lives, values of assets held for sale and other long lived assets, provision for income tax, allowance for doubtful accounts, share-based compensation, goodwill and intangible assets. Actual results could differ from those estimates.
Recently Adopted Accounting Pronouncements	New Accounting Pronouncements Recently Adopted Accounting Standards Updates In March 2016, the FASB issued ASU No. 2016-08, Revenue from Contracts with Customers (Topic 606): Principal versus Agent Considerations , amending previous updates regarding this topic. Leasing revenue recognition is specifically excluded from this ASU, and therefore, the new standard only applied to equipment trading revenues and sales of leasing equipment. The adoption of this ASU had minimal impact on the Company since the majority of its sales contracts are for containers and do not contain multiple elements. The standard allows for either “full retrospective” adoption, meaning the standard is applied to all of the periods presented, or “modified retrospective” adoption, meaning the standard is applied only to the most current period presented in the financial statements. The Company adopted the standard on January 1, 2018, using the modified retrospective approach. The adoption of Topic 606 did not impact its leasing revenue recognition model because, as noted above, leasing revenue recognition, including ancillary fees, is specifically excluded from this ASU. The Company has assessed the requirements of the new revenue standard with respect to its equipment trading revenue and sales of leasing equipment and has concluded that the timing and amount of recognition was not materially affected based on the fact that there generally are no long-term contracts, multiple element arrangements, or significant customer acquisition costs related to these revenue streams. The Company also considered the requirement to present disaggregated revenue for its equipment trading revenue and sales of leasing equipment upon the adoption of Topic 606. The Company currently presents these revenue items separately in its statement of operations. As a result, the Company has concluded that the adoption of Topic 606 does not have a significant impact on either the timing of its revenue recognition or manner of presentation. In August 2016, the FASB issued ASU No. 2016-15, Statement of Cash Flows (Topic 230): Classification of Certain Receipts and Cash Payments . The updated amendment provides guidance as to where certain cash flow items are presented, including debt prepayment or debt extinguishment costs and proceeds from the settlement of insurance claims. The Company adopted the standard on January 1, 2018. The adoption of this ASU did not have an impact on the consolidated financial statements since none of the cash flows items specified in the guidance are currently presented in the Company's consolidated statement of cash flows. In October 2016, the FASB issued ASU No. 2016-16, Accounting for Income Taxes (Topic 740) : Intra-Entity Transfers of Assets Other than Inventory . The ASU eliminates the deferral of the tax effects of intra-entity asset transfers other than inventory. As a result, the tax expense from the intercompany sale of assets, other than inventory, and associated changes to deferred taxes will be recognized when the sale occurs even though the pre-tax effects of the transaction have not been recognized. The Company adopted the standard on January 1, 2018. The adoption of this ASU did not have a significant impact on its consolidated financial statements. In November 2016, the FASB issued ASU No. 2016-18, Statement of Cash Flows (Topic 230): Restricted Cash . The amendments in this ASU require that a statement of cash flows explain the change during the period in the total of cash, cash equivalents and amounts generally described as restricted cash or restricted cash equivalents. As a result, amounts generally described as restricted cash and restricted cash equivalents should be included with cash and cash equivalents when reconciling the beginning-of-period and end-of-period total amounts shown on the statement of cash flows. The amendments do not provide a definition of restricted cash or restricted cash equivalents. The Company adopted this guidance on January 1, 2018 using the retrospective approach. Upon adoption, the Company recorded an increase of $61.8 million in net cash provided by financing activities for the six months ended June 30, 2017 related to presentation changes of its restricted cash balance from financing activities to the cash, cash equivalents and restricted cash balance within the consolidated statements of cash flows. In May 2017, the FASB issued ASU 2017-09, Compensation-Stock Compensation (Topic 718): Scope of Modification Accounting. ASU 2017-09 provides clarification on when modification accounting should be used for changes to the terms or conditions of a share-based payment award. This ASU does not change the accounting for modifications but clarifies that modification accounting guidance should only be applied if there is a change to the value, vesting conditions, or award classification and would not be required if the changes are considered non-substantive. The Company adopted the standard on January 1, 2018 on a prospective basis. The adoption of this ASU did not have an impact on the consolidated financial statements since the Company did not modify its share-based payment awards since adoption of the standard. In February 2018, the FASB issued ASU 2018-02, Income Statement - Reporting Comprehensive Income (Topic 220): Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income . This ASU allows a reclassification from accumulated other comprehensive income to accumulated earnings for tax effects resulting from the Tax Cuts and Jobs Act (the “Act”) and requires certain new disclosures. ASU 2018-02 will be effective for the Company for fiscal years beginning after December 15, 2018, with early adoption permitted. The update should be applied either in the period of adoption or retrospectively to each period in which the effect of the change in the U.S. federal corporate income tax rate in the Act is recognized. The Company elected to adopt this ASU in the first quarter of 2018 by making a one-time reclassification in the period of change of stranded tax effects from accumulated other comprehensive income to accumulated earnings related to the change in tax rates resulting from the Act. The reclassified amount of $3.0 million represents the difference between the amount initially recorded directly to accumulated other comprehensive income at the previously enacted US federal corporate income tax rate as of December 31, 2017 and the amount that would have been recorded directly to accumulated other comprehensive income as of December 31, 2017 by using the newly enacted US federal corporate income tax rate. In March 2018, the FASB issued ASU No. 2018-05, Income Taxes (Topic 740): Amendments to SEC Paragraphs Pursuant to SEC Staff Accounting Bulletin No. 118 . The amendments in this update add various Securities and Exchange Commission (“SEC) paragraphs pursuant to the issuance of SEC Accounting Bulletin No. 118, Income Tax Accounting Implications of the Tax Cuts and Jobs Act (“SAB 118”). The SEC issued SAB 118 to address concerns about reporting entities’ ability to timely comply with the accounting requirements to recognize all of the effects of the Act in the period of enactment. SAB 118 allows disclosure that timely determination of some or all of the income tax effects from the Act are incomplete by the due date of the financial statements and if possible to provide a reasonable estimate. The Company recorded the effects of the change in the tax law pursuant to SAB 118 as of December 31, 2017. The Company adopted the standard on January 1, 2018. There were no updates to the amounts recorded as of December 31, 2017 during the first six months of 2018. Recently Issued Accounting Standards Updates In February 2016, the FASB issued ASU No. 2016-02, Leases (Topic 842) that replaces existing lease accounting guidance. The accounting standard will require lessees to recognize a right of use asset and a corresponding lease liability on their balance sheets. The accounting that will be applied by lessors under ASC 842 is largely unchanged from previous GAAP. Certain targeted improvements were made to align, where necessary, lessor accounting with the lessee accounting model and ASC 606, Revenue from Contracts with Customers . We currently plan to adopt the standard on its effective date of January 1, 2019. We are currently quantifying the expected recognition on our balance sheet for a right to use asset and a lease liability as required by the standard. We do not expect the adoption of the standard to have a significant impact on the consolidated financial statements. In June 2016, the FASB issued ASU 2016-13, Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments. The guidance affects trade receivables and net investments in leases and requires the measurement of expected credit losses to be based on relevant information from past events, including historical experiences, current conditions and reasonable and supportable forecasts that affect collectability. The new guidance will be effective for fiscal years and interim periods beginning after December 15, 2019 and early adoption is permitted for fiscal years beginning after December 15, 2018, including interim periods within those fiscal years. Different components of the guidance require modified retrospective and/or prospective adoption. Based on the composition of the Company's receivables, current market conditions and historical credit loss activity, the Company does not expect the adoption of this ASU to have a significant impact on the consolidated financial statements. In August 2017, FASB issued ASU 2017-12, Derivatives and Hedging (Topic 815): Targeted Improvements to Accounting for Hedging Activities. ASU 2017-12 changes the recognition and presentation requirements of hedge accounting, including: eliminating the requirement to separately measure and report hedge ineffectiveness; and presenting all items that affect earnings in the same income statement line item as the hedged item. The ASU also provides new alternatives for: applying hedge accounting to additional hedging strategies; measuring the hedged item in fair value hedges of interest rate risk; reducing the cost and complexity of applying hedge accounting by easing the requirements for effectiveness testing, hedge documentation and application of the critical terms match method; and reducing the risk of material error correction if a company applies the shortcut method inappropriately. This ASU is effective for interim periods beginning after December 15, 2018. The Company is currently evaluating the impact of this ASU on the consolidated financial statements. In June 2018, the FASB issued ASU 2018-07 (Topic 718): Improvements to Nonemployee Share-Based Payment Accounting that expands the scope of Topic 718 to include share-based payment transactions for acquiring goods and services from nonemployees. An entity should apply the requirements of Topic 718 to nonemployee awards except for certain exemptions specified in the amendment. The guidance is effective for fiscal years beginning after December 15, 2018, including interim reporting periods within that fiscal year. Early adoption is permitted, but no earlier than an entity’s adoption date of Topic 606. The Company is currently evaluating the impact of the guidance on its consolidated financial statements.

Fair Value of Financial Instr19

Fair Value of Financial Instruments (Tables)	6 Months Ended
Fair Value of Financial Instruments (Tables)	Jun. 30, 2018
Fair Value Disclosures [Abstract]
Schedule of fair value, which was measured using Level 2 inputs, and the carrying value of the entity's debt	June 30, December 31, Liabilities Total debt - carrying value (1) $ 7,348,568 $ 6,979,877 Total debt - fair value $ 7,328,218 $ 6,991,537 (1) Excludes unamortized debt costs of $44.6 million and $40.6 million and purchase price debt adjustments of $21.9 million and $27.5 million as of June 30, 2018 and December 31, 2017 , respectively
Disclosure of Long Lived Assets Held-for-sale [Table Text Block]	June 30, December 31, Assets Equipment held for sale - assets at fair value (1) $ 4,193 $ 6,104 Cumulative impairment charges (2) $ (1,462 ) $ (2,242 ) (1) Represents the fair value of containers included in equipment held for sale in the consolidated balance sheets that have been impaired to write down the carrying value of the containers to their estimated fair value less cost to sell. (2) Represents the cumulative impairment charges recognized on equipment held for sale from the date of designated held for sale status to the indicated period end date.
Schedule of Derivative Instruments in Statement of Financial Position, Fair Value [Table Text Block]	The fair value of derivative instruments on its consolidated balance sheets as of June 30, 2018 and December 31, 2017 was as follows (in thousands): Asset Derivatives Liability Derivatives Derivative Instrument June 30, 2018 December 31, 2017 June 30, 2018 December 31, 2017 Interest rate swap contracts, designated $ 24,347 $ 3,554 $ — $ 2,503 Interest rate swap contracts, not designated 5,119 3,822 — — Interest rate cap, designated 1 — — — Total derivatives $ 29,467 $ 7,376 $ — $ 2,503

Share Based Compensation and 20

Share Based Compensation and Other Equity Matters (Table)	6 Months Ended
Share Based Compensation and Other Equity Matters (Table)	Jun. 30, 2018
Equity [Abstract]
Schedule of accumulated other comprehensive (loss)	Cash Flow Foreign Accumulated Other Comprehensive (Loss) Income Balance as of December 31, 2017 $ 31,215 $ (4,273 ) $ 26,942 Change in fair value of derivative instruments designated as cash flow hedges 17,464 — 17,464 Reclassification of (gain) on interest rate swap agreements designated as cash flow hedges (2,933 ) — (2,933 ) Tax reclassification for the adoption of ASU 2018-02 accumulated earnings (3,029 ) — (3,029 ) Foreign currency translation adjustment — (86 ) (86 ) Other comprehensive income 11,502 (86 ) 11,416 Balance as of June 30, 2018 $ 42,717 $ (4,359 ) $ 38,358 Cash Flow Foreign Accumulated Other Comprehensive (Loss) Income Balance as of December 31, 2016 $ 31,182 $ (4,424 ) $ 26,758 Change in fair value of derivative instruments designated as cash flow hedges (3,917 ) — (3,917 ) Reclassification of loss on interest rate swap agreements designated as cash flow hedges 1,000 — 1,000 Foreign currency translation adjustment — 112 112 Other comprehensive income (loss) (2,917 ) 112 (2,805 ) Balance as of June 30, 2017 $ 28,265 $ (4,312 ) $ 23,953
Schedule of reclassifications out of accumulated other comprehensive (loss)	The following table summarizes the reclassifications out of accumulated other comprehensive income (in thousands): Amounts Reclassified From Accumulated Other Comprehensive Income Affected Line Item in the Consolidated Statements of Income Three Months Ended June 30, Six Months Ended June 30, 2018 2017 2018 2017 Reclassification of (gain) loss on interest rate swap agreements $ (1,854 ) $ 694 $ (3,678 ) $ 1,461 Interest and debt expense Income tax expense (benefit) 393 (204 ) 745 (461 ) Income tax expense Amounts reclassified from accumulated other comprehensive income, net of tax $ (1,461 ) $ 490 $ (2,933 ) $ 1,000 Net income

Debt (Tables)

Debt (Tables)	6 Months Ended
Debt (Tables)	Jun. 30, 2018
Debt Disclosure [Abstract]
Schedule of debt instruments	June 30, December 31, Institutional notes $ 2,239,057 $ 2,381,000 Asset-backed securitization term notes 3,004,419 2,378,470 Term loan facilities 1,496,942 1,701,998 Asset-backed warehouse facility 175,000 110,000 Revolving credit facilities 340,000 305,000 Capital lease obligations 93,150 103,409 Total debt outstanding 7,348,568 6,979,877 Debt costs (44,603 ) (40,636 ) Unamortized fair value debt adjustment (21,909 ) (27,516 ) Debt, net of unamortized debt costs $ 7,282,056 $ 6,911,725

Derivative Instruments (Tables)

Derivative Instruments (Tables)	6 Months Ended
Derivative Instruments (Tables)	Jun. 30, 2018
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of interest rate swap contracts	As of June 30, 2018 , the Company had interest rate swap and cap agreements in place to fix the floating interest rates on a portion of the borrowings under its debt facilities as summarized below: Derivatives Net Notional Amount Weighted Average Cap Rate Weighted Average Interest rate swaps $ 1,225.2 Million 1.88% n/a 4.1 years Interest rate cap $ 391.7 Million n/a 2.9% 0.6 years
Schedule of derivatives instruments and their effect on consolidated statements of operations and consolidated statements of comprehensive income	Three Months Ended June 30, Six Months Ended June 30, Derivative instrument Financial statement caption 2018 2017 2018 2017 Non-designated interest rate swaps Realized (gain) loss on derivative instruments, net $ (492 ) $ 283 $ (740 ) $ 882 Non-designated interest rate swaps Unrealized (gain) loss on derivative instruments, net $ (111 ) $ 789 $ (1,297 ) $ (709 ) Designated interest rate swaps Other comprehensive (income) loss $ (6,355 ) $ 6,716 $ (22,168 ) $ 6,026 Designated interest rate swaps Interest and debt (income) expense $ (1,854 ) $ 694 $ (3,678 ) $ 1,461

Segment and Geographic Inform23

Segment and Geographic Information (Tables)	6 Months Ended
Segment and Geographic Information (Tables)	Jun. 30, 2018
Segment Reporting [Abstract]
Schedule of segment information	The following tables summarize segment information and the consolidated totals reported (in thousands): Three Months Ended June 30, 2018 2017 Equipment Equipment Totals Equipment Equipment Totals Total leasing revenues $ 328,188 $ 1,583 $ 329,771 $ 280,995 $ 944 $ 281,939 Trading margin — 3,994 3,994 — 1,328 1,328 Net gain on sale of leasing equipment 11,105 — 11,105 9,639 — 9,639 Depreciation and amortization expense 133,810 84 133,894 123,932 159 124,091 Interest and debt expense 78,641 386 79,027 70,365 412 70,777 Realized (gain) loss on derivative instruments, net (491 ) (1 ) (492 ) 283 — 283 Income before income taxes (1)(2) 116,430 6,605 123,035 58,466 1,863 60,329 (1) Segment income before income taxes excludes unrealized gains or losses on derivative instruments and the write-off of debt costs. Unrealized gains on derivative instruments of $0.1 million and unrealized losses of $0.8 million for the three months ended June 30, 2018 and 2017 , respectively. Write-off of debt costs was $0.5 million and a minimal amount for the three months ended June 30, 2018 and 2017 , respectively. (2) Equipment leasing segment includes gain on sale of an office building of $21.0 million for the three months ended June 30, 2018 . Six Months Ended June 30, 2018 2017 Equipment Equipment Totals Equipment Equipment Totals Total leasing revenues $ 642,617 $ 2,251 $ 644,868 $ 545,854 $ 1,687 $ 547,541 Trading margin — 6,985 6,985 — 1,720 1,720 Net gain on sale of leasing equipment 20,323 — 20,323 14,800 — 14,800 Depreciation and amortization expense 263,664 663 264,327 241,653 318 241,971 Interest and debt expense 153,415 710 154,125 133,493 788 134,281 Realized (gain) loss on derivative instruments, net (739 ) (1 ) (740 ) 882 — 882 Income before income taxes (1)(2) 206,396 8,821 215,217 100,098 2,178 102,276 (1) Segment income before income taxes excludes unrealized gains or losses on derivative instruments and the write-off of debt costs. Unrealized gains on derivative instruments were $1.3 million and $0.7 million for the six months ended June 30, 2018 and 2017 , respectively. Write-off of debt costs was $0.5 million and a minimal amount for the six months ended June 30, 2018 and 2017 , respectively. (2) Equipment leasing segment includes gain on sale of an office building of $21.0 million for the six months ended June 30, 2018 . June 30, 2018 December 31, 2017 Equipment Equipment Totals Equipment Equipment Totals Equipment held for sale $ 25,712 $ 24,356 $ 50,068 $ 31,534 $ 11,661 $ 43,195 Goodwill 220,864 15,801 236,665 220,864 15,801 236,665 Total assets 10,055,673 54,443 10,110,116 9,534,330 43,295 9,577,625
Schedule of revenues by geographic location	The following table summarizes the geographic allocation of equipment leasing revenues for the three and six months ended June 30, 2018 and 2017 based on the Company's customers' primary domicile (in thousands): Three Months Ended June 30, Six Months Ended June 30, 2018 2017 2018 2017 Total equipment leasing revenues: Asia $ 134,751 $ 120,393 $ 264,941 $ 234,770 Europe 154,482 123,294 298,131 242,663 Americas 30,102 27,560 61,152 49,449 Other International 9,715 10,417 19,310 20,268 Bermuda 721 275 1,334 391 Total $ 329,771 $ 281,939 $ 644,868 $ 547,541 The following table summarizes the geographic allocation of equipment trading revenues for the three and six months ended June 30, 2018 and 2017 based on the location of the sale (in thousands): Three Months Ended June 30, Six Months Ended June 30, 2018 2017 2018 2017 Total equipment trading revenues: Asia $ 3,261 $ 6,523 $ 5,715 $ 8,480 Europe 5,064 2,632 9,353 4,218 Americas 7,773 2,580 12,757 3,699 Other International 2,001 998 3,649 1,820 Bermuda — 22 — 22 Total $ 18,099 $ 12,755 $ 31,474 $ 18,239

Commitments and Contingencies C

Commitments and Contingencies Commitments and Contingencies (Tables)	6 Months Ended
	Jun. 30, 2018
Commitments and Contingencies Disclosure [Abstract]
Other Commitments	The following table summarizes changes to the Company’s total severance balance (in thousands): Total Balance at December 31, 2017 $ 9,677 Accrual — Payments / Adjustments (4,363 ) Balance at June 30, 2018 $ 5,314

Related Party Transactions (Tab

Related Party Transactions (Tables)	6 Months Ended
Related Party Transactions (Tables)	Jun. 30, 2018
Related Party Transactions [Abstract]
Schedule of Related Party Transactions	The following table summarizes payments, direct finance lease, and a loan payable balance with TriStar (in thousands): Three Months Ended June 30, Six Months Ended June 30, 2018 2017 2018 2017 Payments received from TriStar on direct finance leases $ 450 $ 472 $ 962 $ 896 Payments received from TriStar on loan payable $ — $ 43 $ — $ 85 June 30, December 31, Direct finance lease balance $ 11,203 $ 10,648 Loan payable balance $ — $ —

Description of the Business Con

Description of the Business Concentration of Credit Risk (Details) - Operating and Capital Leases Income Statement Lease Revenue [Member] - Credit Concentration Risk [Member]	6 Months Ended
	Jun. 30, 2018
CMACGN [Member]
Concentration Risk [Line Items]
Concentration Risk, Percentage	20.00%
Mediterranean Shipping Company [Member]
Concentration Risk [Line Items]
Concentration Risk, Percentage	14.00%

Description of the Business, 27

Description of the Business, Basis of Presentation and Recently Adopted Accounting Pronouncements - Change in Basis of Accounting(Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017	Jan. 01, 2018
Property, Plant and Equipment [Line Items]
Tax reclassification to accumulated earnings for the adoption of ASU 2018-02	$ 0	$ 0	$ 3,029	$ 0
Accounting Standards Update 2016-18 [Member]
Property, Plant and Equipment [Line Items]
Cumulative effect of new accounting principle in period of adoption					$ 61,800

Fair Value of Financial Instr28

Fair Value of Financial Instruments (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017	Dec. 31, 2017
Liabilities
Deferred financing costs	$ (44,603)		$ (44,603)		$ (40,636)
Adjustment to Purchase Price of Debt	(21,909)		(21,909)		(27,516)
Asset Impairment (Charges) Reversal, Net	500	$ (500)	(1,400)	$ (1,000)
Fair value of derivative instruments (assets)	29,467		29,467		7,376
Fair value of derivative instruments (liabilities)	0		0		2,503
Level 2
Liabilities
Assets Held-for-sale, Impairment Charges	(1,462)		(1,462)		(2,242)
Carrying Value
Liabilities
Debt and Capital Lease Obligations	7,348,568		7,348,568		6,979,877
Estimate of Fair Value \| Level 2
Liabilities
Debt and Capital Lease Obligations	7,328,218		7,328,218		6,991,537
Carrying value containers impaired to fair value [Member] \| Level 2
Liabilities
Assets Held-for-sale, Long Lived, Fair Value Disclosure	4,193		4,193		6,104
Designated as Hedging Instrument [Member] \| Interest Rate Swap [Member]
Liabilities
Fair value of derivative instruments (assets)	24,347		24,347		3,554
Fair value of derivative instruments (liabilities)	0		0		2,503
Designated as Hedging Instrument [Member] \| Interest Rate Cap [Member]
Liabilities
Fair value of derivative instruments (assets)	1		1		0
Fair value of derivative instruments (liabilities)	0		0		0
Not Designated as Hedging Instrument [Member] \| Interest Rate Swap [Member]
Liabilities
Fair value of derivative instruments (assets)	5,119		5,119		3,822
Fair value of derivative instruments (liabilities)	$ 0		$ 0		$ 0

Share Based Compensation and 29

Share Based Compensation and Other Equity Matters (Details) - USD ($) $ / shares in Units, $ in Thousands	May 02, 2018	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Stock based compensation plans
Share-based Compensation		$ 3,200	$ 2,200	$ 5,661	$ 3,298
2016 Triton Plan [Member]
Stock based compensation plans
Employee Service Share-based Compensation Not yet Recognized		$ 10,500		$ 10,500
Restricted Stock [Member] \| Common Stock [Member] \| 2016 Triton Plan [Member]
Stock based compensation plans
Grants of restricted shares (in shares)				138,445
Settled or Cancelled (in shares)				28,838
Director [Member] \| Restricted Stock [Member] \| Common Stock [Member] \| 2016 Triton Plan [Member]
Stock based compensation plans
Granted (in shares)	39,320
Vested (Dollar per share)	$ 31.85

Share Based Compensation and 30

Share Based Compensation and Other Equity Matters (Details 2) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Accumulated Other Comprehensive Income [Roll Forward]
Balance at the beginning of the period			$ 26,942
Change in fair value of derivative instruments designated as cash flow hedges	$ 5,005	$ (4,349)	17,464	$ (3,917)
Reclassification of loss on interest rate swap agreements designated as cash flow hedges	(1,461)	490	(2,933)	1,000
Tax reclassification to accumulated earnings for the adoption of ASU 2018-02	0	0	(3,029)	0
Foreign currency translation adjustment	(179)	115	(86)	112
Other comprehensive income (loss), net of tax	3,365	(3,744)	11,416	(2,805)
Balance at the end of the period	38,358		38,358
Interest and debt expense	79,027	70,777	154,125	134,281
Income tax expense	15,890	11,483	26,393	18,625
Net (income) loss	(104,870)	(45,671)	(185,762)	(80,282)
Cash Flow Hedges
Accumulated Other Comprehensive Income [Roll Forward]
Balance at the beginning of the period			31,215	31,182
Change in fair value of derivative instruments designated as cash flow hedges			17,464	(3,917)
Reclassification of loss on interest rate swap agreements designated as cash flow hedges			(2,933)	1,000
Tax reclassification to accumulated earnings for the adoption of ASU 2018-02			(3,029)
Foreign currency translation adjustment			0	0
Other comprehensive income (loss), net of tax			11,502	(2,917)
Balance at the end of the period	42,717	28,265	42,717	28,265
Foreign Currency Translation
Accumulated Other Comprehensive Income [Roll Forward]
Balance at the beginning of the period			(4,273)	(4,424)
Change in fair value of derivative instruments designated as cash flow hedges			0	0
Reclassification of loss on interest rate swap agreements designated as cash flow hedges			0	0
Tax reclassification to accumulated earnings for the adoption of ASU 2018-02			0
Foreign currency translation adjustment			(86)	112
Other comprehensive income (loss), net of tax			(86)	112
Balance at the end of the period	(4,359)	(4,312)	(4,359)	(4,312)
Accumulated Other Comprehensive Income (Loss)
Accumulated Other Comprehensive Income [Roll Forward]
Balance at the beginning of the period			26,942	26,758
Change in fair value of derivative instruments designated as cash flow hedges			17,464	(3,917)
Reclassification of loss on interest rate swap agreements designated as cash flow hedges			(2,933)	1,000
Tax reclassification to accumulated earnings for the adoption of ASU 2018-02			(3,029)
Foreign currency translation adjustment			(86)	112
Other comprehensive income (loss), net of tax			11,416	(2,805)
Balance at the end of the period	38,358	23,953	38,358	23,953
Reclassification out of Accumulated Other Comprehensive Income [Member] \| Cash Flow Hedges
Accumulated Other Comprehensive Income [Roll Forward]
Interest and debt expense	(1,854)	694	(3,678)	1,461
Income tax expense	393	(204)	745	(461)
Net (income) loss	$ 1,461	$ (490)	$ (2,933)	$ 1,000

Debt Debt Items (Details)

Debt Debt Items (Details) - USD ($) $ in Thousands	Jun. 30, 2018	Dec. 31, 2017
Debt Instrument [Line Items]
Debt And Capital Lease Obligations Outstanding Before Deferred Financing Cost and Purchase Accounting	$ 7,348,568	$ 6,979,877
Deferred financing costs	44,603	40,636
Adjustment to Purchase Price of Debt	(21,909)	(27,516)
Debt and Capital Lease Obligations, net of deferred financing costs	7,282,056	6,911,725
Institutional Notes [Domain]
Debt Instrument [Line Items]
Debt and Capital Lease Obligations	2,239,057	2,381,000
Asset-backed securitization term notes
Debt Instrument [Line Items]
Debt and Capital Lease Obligations	3,004,419	2,378,470
Secured Debt [Member]
Debt Instrument [Line Items]
Debt and Capital Lease Obligations	1,496,942	1,701,998
Asset Backed Warehouse Facility [Member]
Debt Instrument [Line Items]
Debt and Capital Lease Obligations	175,000	110,000
Revolving credit facilities
Debt Instrument [Line Items]
Debt and Capital Lease Obligations	340,000	305,000
Capital lease obligations
Debt Instrument [Line Items]
Debt and Capital Lease Obligations	$ 93,150	$ 103,409

Debt (Details)

Debt (Details)	May 31, 2018USD ($)	May 08, 2018USD ($)	Apr. 20, 2018USD ($)	Jun. 30, 2018USD ($)	Jun. 30, 2017USD ($)	Jun. 30, 2018USD ($)asset-backed_warehouse_facilitiy	Jun. 30, 2017USD ($)	Jun. 20, 2018USD ($)	May 07, 2018USD ($)	Mar. 20, 2018USD ($)	Dec. 31, 2017USD ($)
Debt Instrument [Line Items]
Debt outstanding on facilities with fixed interest rates				$ 4,813,000,000		$ 4,813,000,000
Debt Instrument Interest Rate During Period Fixed Rate Debt						4.24%
Long Term Debt, Percentage Bearing Fixed Interest Rate Remaining Term						4 years 3 months 19 days
Debt outstanding on facilities with interest rates based on floating rate indices				$ 2,535,500,000		$ 2,535,500,000
Debt Instrument Interest Rate During Period Variable Rate Debt						4.11%
Long Term Debt, Percentage Bearing Variable Interest Rate Remaining Term						2 years 9 months 18 days
Percentage of Debt Hedged by Interest Rate Derivatives				82.20%		82.20%
Debt Instrument Interest Rate During Period Fixed Rate and Interest Swap Rate Debt						4.17%
Hedged Portion of Debt Average Remaining Maturity						4 years 2 months 12 days
Debt Instrument, Interest Rate During Period						4.16%
Write-off of debt costs				$ 503,000	$ 43,000	$ 503,000	$ 43,000
Proceeds from the sale of building						27,630,000	0
Net gain on sale of building				20,953,000	$ 0	$ 20,953,000	$ 0
Number Of Asset-backed Warehouse Facilities \| asset-backed_warehouse_facilitiy						2
Institutional Notes [Domain]
Debt Instrument [Line Items]
Debt and Capital Lease Obligations				$ 2,239,057,000		$ 2,239,057,000					$ 2,381,000,000
Debt Instrument, Interest Rate, Effective Percentage				4.74%		4.74%
Asset-backed securitization term notes
Debt Instrument [Line Items]
Debt and Capital Lease Obligations				$ 3,004,419,000		$ 3,004,419,000					2,378,470,000
Debt Instrument, Interest Rate, Effective Percentage				3.87%		3.87%		4.23%		3.99%
Debt Instrument, Face Amount								$ 368,000,000		$ 450,000,000
Term Notes [Member]
Debt Instrument [Line Items]
Write-off of debt costs	$ 500,000
Debt Instrument, Interest Rate, Effective Percentage				4.09%		4.09%
Proceeds from the sale of building			$ 27,600,000
Payment of Mortgage			18,300,000
Payment of Mortgage, Accrued Interest			$ 100,000
Extinguishment Term Loan, Payment	$ 93,900,000
Asset Backed Warehouse Facility [Member]
Debt Instrument [Line Items]
Debt and Capital Lease Obligations				$ 175,000,000		$ 175,000,000					110,000,000
Debt Instrument, Advance Rate Used in Calculating Borrowing Capacity				80.00%		80.00%
Debt Instrument, Interest Rate, Effective Percentage				3.93%		3.93%
Maximum borrowing capacity				$ 600,000,000		$ 600,000,000
Revolving credit facilities
Debt Instrument [Line Items]
Debt and Capital Lease Obligations				$ 340,000,000		$ 340,000,000					305,000,000
Debt Instrument, Advance Rate Used in Calculating Borrowing Capacity				83.00%		83.00%
Debt Instrument, Interest Rate, Effective Percentage				4.15%		4.15%
Maximum borrowing capacity		$ 1,125,000,000		$ 1,175,000,000		$ 1,175,000,000			$ 1,025,000,000
Debt Instrument, Basis Spread on Variable Rate		2.00%
Capital lease obligations
Debt Instrument [Line Items]
Debt and Capital Lease Obligations				93,150,000		93,150,000					$ 103,409,000
Interest Rate Swap [Member]
Debt Instrument [Line Items]
Net notional amount				1,225,200,000		$ 1,225,200,000
Net Notional Amount of Interest Rate During Period						1.88%
Weighted Average Remaining Term						4 years 1 month 6 days
Asset-backed Warehouse Facility A [Member] \| Asset Backed Warehouse Facility [Member]
Debt Instrument [Line Items]
Maximum borrowing capacity				200,000,000		$ 200,000,000
Asset-backed Warehouse Facility B [Member] \| Asset Backed Warehouse Facility [Member]
Debt Instrument [Line Items]
Maximum borrowing capacity				$ 400,000,000		$ 400,000,000
Minimum [Member]
Debt Instrument [Line Items]
Capital Lease Period Over Which Interest Expense Recognized Preceding Early Purchase Option						3 years
Minimum [Member] \| Institutional Notes [Domain]
Debt Instrument [Line Items]
Debt Instrument, Term						7 years
Debt Instrument, Advance Rate Used in Calculating Borrowing Capacity				83.00%		83.00%
Minimum [Member] \| Asset-backed securitization term notes
Debt Instrument [Line Items]
Debt Instrument, Advance Rate Used in Calculating Borrowing Capacity				77.00%		77.00%
Minimum [Member] \| Term Notes [Member]
Debt Instrument [Line Items]
Debt Instrument, Advance Rate Used in Calculating Borrowing Capacity				80.00%		80.00%
Minimum [Member] \| Asset Backed Warehouse Facility [Member]
Debt Instrument [Line Items]
Bank Account Maintenance Required Amount Balance, Interest Expense						3 months
Minimum [Member] \| Capital lease obligations
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Effective Percentage				3.26%		3.26%
Maximum [Member]
Debt Instrument [Line Items]
Capital Lease Period Over Which Interest Expense Recognized Preceding Early Purchase Option						10 years
Maximum [Member] \| Institutional Notes [Domain]
Debt Instrument [Line Items]
Debt Instrument, Term						12 years
Debt Instrument, Advance Rate Used in Calculating Borrowing Capacity				85.00%		85.00%
Maximum [Member] \| Asset-backed securitization term notes
Debt Instrument [Line Items]
Debt Instrument, Advance Rate Used in Calculating Borrowing Capacity				87.00%		87.00%
Maximum [Member] \| Term Notes [Member]
Debt Instrument [Line Items]
Debt Instrument, Advance Rate Used in Calculating Borrowing Capacity				83.00%		83.00%
Maximum [Member] \| Asset Backed Warehouse Facility [Member]
Debt Instrument [Line Items]
Bank Account Maintenance Required Amount Balance, Interest Expense						5 months
Maximum [Member] \| Capital lease obligations
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Effective Percentage				4.93%		4.93%
Pre-Conversion [Member] \| London Interbank Offered Rate (LIBOR) [Member] \| Asset-backed Warehouse Facility A [Member] \| Asset Backed Warehouse Facility [Member]
Debt Instrument [Line Items]
Debt Instrument, Basis Spread on Variable Rate						2.25%
Pre-Conversion [Member] \| London Interbank Offered Rate (LIBOR) [Member] \| Asset-backed Warehouse Facility B [Member] \| Asset Backed Warehouse Facility [Member]
Debt Instrument [Line Items]
Debt Instrument, Basis Spread on Variable Rate						1.85%
Post-Conversion [Member] \| London Interbank Offered Rate (LIBOR) [Member] \| Asset-backed Warehouse Facility A [Member] \| Asset Backed Warehouse Facility [Member]
Debt Instrument [Line Items]
Debt Instrument, Basis Spread on Variable Rate						3.25%
Post-Conversion [Member] \| London Interbank Offered Rate (LIBOR) [Member] \| Asset-backed Warehouse Facility B [Member] \| Asset Backed Warehouse Facility [Member]
Debt Instrument [Line Items]
Debt Instrument, Basis Spread on Variable Rate						2.85%
Interest Rate Swap [Member]
Debt Instrument [Line Items]
Debt Instrument Interest Rate During Period Variable Rate Debt						4.01%
Debt and Capital Lease Obligations				$ 6,038,200,000		$ 6,038,200,000

Derivative Instruments (Details

Derivative Instruments (Details) - USD ($) $ in Millions	6 Months Ended
Derivative Instruments (Details) - USD ($) $ in Millions	Jun. 30, 2018	Mar. 31, 2018
Interest Rate Swap [Member]
Derivative Instruments
Net notional amount	$ 1,225.2
Weighted Average Remaining Term	4 years 1 month 6 days
Interest Rate Cap [Member]
Derivative Instruments
Notional amount		$ 400
Net notional amount	$ 391.7
Derivative, Cap Interest Rate	2.90%
Weighted Average Remaining Term	6 months 24 days

Derivative Instruments (Detai34

Derivative Instruments (Details 2) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
Derivative Instruments (Details 2) - USD ($) $ in Thousands	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Effect of Derivative Instruments on Consolidated Statements of Income and Consolidated Statements of Comprehensive Income
Realized loss on derivative instruments, net	$ (492)	$ 283	$ (740)	$ 882
Unrealized (gain) loss on derivative instruments, net	(111)	789	(1,297)	(709)
Interest Rate Swap [Member] \| Designated as Hedging Instrument [Member] \| Other comprehensive (income) loss
Effect of Derivative Instruments on Consolidated Statements of Income and Consolidated Statements of Comprehensive Income
Designated interest rate swaps	(6,355)	6,716	(22,168)	6,026
Interest and Debt Expense \| Interest Rate Swap [Member] \| Designated as Hedging Instrument [Member]
Effect of Derivative Instruments on Consolidated Statements of Income and Consolidated Statements of Comprehensive Income
Derivative Instruments, Gain (Loss) Reclassified from Accumulated OCI into Income, Effective Portion, Net	$ 1,854	$ (694)	$ 3,678	$ (1,461)

Segment and Geographic Inform35

Segment and Geographic Information (Details)	May 31, 2018USD ($)	Jun. 30, 2018USD ($)	Jun. 30, 2017USD ($)	Jun. 30, 2018USD ($)segment	Jun. 30, 2017USD ($)	Dec. 31, 2017USD ($)
Industry Segment Information
Number of operating segments \| segment				2
Number of reportable segments \| segment				2
Total leasing revenues		$ 329,771,000	$ 281,939,000	$ 644,868,000	$ 547,541,000
Trading margin		3,994,000	1,328,000	6,985,000	1,720,000
Net gain on sale of leasing equipment		11,105,000	9,639,000	20,323,000	14,800,000
Depreciation and amortization expense		133,894,000	124,091,000	264,327,000	241,971,000
Interest and debt expense		79,027,000	70,777,000	154,125,000	134,281,000
Realized (gain) loss on derivative instruments, net		(492,000)	283,000	(740,000)	882,000
Income before income taxes		123,035,000	60,329,000	215,217,000	102,276,000
Equipment held for sale		50,068,000		50,068,000		$ 43,195,000
Goodwill at the end of the period		236,665,000		236,665,000		236,665,000
Total assets at the end of the period		10,110,116,000		10,110,116,000		9,577,625,000
Equipment trading revenues		18,099,000	12,755,000	31,474,000	18,239,000
Costs and Expenses		164,838,000	162,491,000	325,771,000	328,338,000
Unrealized (gain) loss on derivative instruments, net		(111,000)	789,000	(1,297,000)	(709,000)
Write-off of debt costs		503,000	43,000	503,000	43,000
Net gain on sale of building		20,953,000	0	20,953,000	0
Equipment Leasing
Industry Segment Information
Total leasing revenues		328,188,000	280,995,000	642,617,000	545,854,000
Trading margin		0	0	0	0
Depreciation and amortization expense		133,810,000	123,932,000	263,664,000	241,653,000
Interest and debt expense		78,641,000	70,365,000	153,415,000	133,493,000
Realized (gain) loss on derivative instruments, net		(491,000)	283,000	(739,000)	882,000
Income before income taxes		116,430,000	58,466,000	206,396,000	100,098,000
Equipment held for sale		25,712,000		25,712,000		31,534,000
Goodwill at the end of the period		220,864,000		220,864,000		220,864,000
Total assets at the end of the period		10,055,673,000		10,055,673,000		9,534,330,000
Equipment Trading
Industry Segment Information
Total leasing revenues		1,583,000	944,000	2,251,000	1,687,000
Trading margin		3,994,000	1,328,000	6,985,000	1,720,000
Net gain on sale of leasing equipment		0	0	0	0
Depreciation and amortization expense		84,000	159,000	663,000	318,000
Interest and debt expense		386,000	412,000	710,000	788,000
Realized (gain) loss on derivative instruments, net		(1,000)	0	(1,000)	0
Income before income taxes		6,605,000	$ 1,863,000	8,821,000	2,178,000
Equipment held for sale		24,356,000		24,356,000		11,661,000
Goodwill at the end of the period		15,801,000		15,801,000		15,801,000
Total assets at the end of the period		$ 54,443,000		54,443,000		$ 43,295,000
Intersegment Eliminations
Industry Segment Information
Equipment trading revenues				0	0
Costs and Expenses				$ 0	$ 0
Term Notes [Member]
Industry Segment Information
Write-off of debt costs	$ 500,000

Segment and Geographic Inform36

Segment and Geographic Information (Details 2) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Geographic Segment Information
Write-off of debt costs	$ 503	$ 43	$ 503	$ 43
Net gain on sale of building	20,953	0	20,953	0
Total leasing revenues	329,771	281,939	644,868	547,541
Equipment trading revenues	18,099	12,755	31,474	18,239
Asia
Geographic Segment Information
Total leasing revenues	134,751	120,393	264,941	234,770
Equipment trading revenues	3,261	6,523	5,715	8,480
Europe
Geographic Segment Information
Total leasing revenues	154,482	123,294	298,131	242,663
Equipment trading revenues	5,064	2,632	9,353	4,218
Americas [Member]
Geographic Segment Information
Total leasing revenues	30,102	27,560	61,152	49,449
Equipment trading revenues	7,773	2,580	12,757	3,699
Other international
Geographic Segment Information
Total leasing revenues	9,715	10,417	19,310	20,268
Equipment trading revenues	2,001	998	3,649	1,820
BERMUDA
Geographic Segment Information
Total leasing revenues	721	275	1,334	391
Equipment trading revenues	$ 0	$ 22	$ 0	$ 22

Commitments and Contingencies (

Commitments and Contingencies (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017	Dec. 31, 2017
Other Commitments [Line Items]
Purchase commitment payable	$ 269,900		$ 269,900
SeverancePlan [Member]
Other Commitments [Line Items]
Supplemental Unemployment Benefits, Severance Benefits	5,314		5,314		$ 9,677
SeverancePlan [Member] \| Accruals [Member]
Other Commitments [Line Items]
Supplemental Unemployment Benefits, Severance Benefits	0		0
SeverancePlan [Member] \| Payments [Member]
Other Commitments [Line Items]
Supplemental Unemployment Benefits, Severance Benefits	(4,363)		(4,363)
General and Administrative Expense [Member]
Other Commitments [Line Items]
Operating Leases, Rent Expense, Net	$ 700	$ 600	$ 1,400	$ 1,200

Income Taxes Tax Detail (Detail

Income Taxes Tax Detail (Details)	3 Months Ended		6 Months Ended
Income Taxes Tax Detail (Details)	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Income Tax Disclosure [Abstract]
Effective Income Tax Rate Reconciliation, Percent	13.00%	19.30%	12.20%	18.10%

Related Party Transactions (Det

Related Party Transactions (Details) - TriStar [Member] [Member] - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017	Dec. 31, 2017
Related Party Transaction [Line Items]
Percentage Of Ownership	50.00%		50.00%
Direct Financing Lease Receivable [Member]
Related Party Transaction [Line Items]
Proceeds from (Repayments of) Related Party Debt	$ 450	$ 472	$ 962	$ 896
Loans and Leases Receivable, Related Parties	11,203		11,203		$ 10,648
Loans Receivable [Member]
Related Party Transaction [Line Items]
Proceeds from (Repayments of) Related Party Debt	0	$ 43	0	$ 85
Loans and Leases Receivable, Related Parties	$ 0		$ 0		$ 0

Subsequent Events (Details)

Subsequent Events (Details) - Subsequent Event [Member] shares in Millions	Aug. 01, 2018$ / sharesshares
Subsequent Event [Line Items]
Dividend approved and declared (in dollars per share) \| $ / shares	$ 0.52
Common Shares, Shares Authorized (in shares) \| shares	200
Term Notes [Member]
Subsequent Event [Line Items]
Long-term debt, term	3 years