v3.25.2
Segment and Geographic Information (Tables)
 6 Months Ended
Jun. 30, 2025
Segment Reporting [Abstract]  
Schedule of segment information
The following tables summarize the Company's segment information and the consolidated totals reported (in thousands):
Three Months Ended June 30,
20252024
Equipment LeasingEquipment TradingTotalsEquipment LeasingEquipment TradingTotals
Total revenues$307,903 $1,975 $309,878 $376,865 $2,124 $378,989 
Less:
Depreciation and amortization79,179 189 79,368 135,330 206 135,536 
Interest and debt expense58,500 391 58,891 61,217 169 61,386 
Storage and handling10,914 — 10,914 13,523 — 13,523 
Repair costs2,558 — 2,558 2,328 — 2,328 
Other operating expenses1,292 — 1,292 1,181 — 1,181 
Administrative expenses(1)
23,972 315 24,287 23,636 376 24,012 
Other (income) expenses(2)
2,006 — 2,006 (1,902)— (1,902)
Leasing margin$129,482 $1,080 $130,562 $141,552 $1,373 $142,925 
Net trading margin— 754 754 — 1,922 1,922 
Net gain (loss) on sale of leasing equipment7,861 — 7,861 (38,118)— (38,118)
Transaction and other costs— (16,139)
Other costs (income)(3)
— (1)
Income (loss) before income taxes$139,177 $90,589 
Total assets9,805,199 96,970 9,902,169 10,945,904 65,805 11,011,709 
Purchases of leasing equipment and investments in finance leases(4)
$79,994 $— $79,994 $293,852 $— $293,852 
Six Months Ended June 30,
20252024
Equipment LeasingEquipment TradingTotalsEquipment LeasingEquipment TradingTotals
Total revenues$689,072 $3,846 $692,918 $746,554 $3,720 $750,274 
Less:
Depreciation and amortization207,345 383 207,728 271,205 412 271,617 
Interest and debt expense126,379 641 127,020 122,505 333 122,838 
Storage and handling20,982 — 20,982 31,479 — 31,479 
Repair costs5,150 — 5,150 5,065 — 5,065 
Other operating expenses3,451 — 3,451 3,235 — 3,235 
Administrative expenses(1)
47,837 576 48,413 45,278 543 45,821 
Other (income) expenses(2)
2,236 — 2,236 (1,615)— (1,615)
Leasing margin$275,692 $2,246 $277,938 $269,402 $2,432 $271,834 
Net trading margin— 1,348 1,348 — 2,299 2,299 
Net gain (loss) on sale of leasing equipment18,555 — 18,555 (23,496)— (23,496)
Transaction and other costs— (21,651)
Other costs (income)(3)
2 (47)
Income (loss) before income taxes$297,843 $228,939 
Total assets9,805,199 96,970 9,902,169 10,945,904 65,805 11,011,709 
Purchases of leasing equipment and investments in finance leases(4)
$100,194 $— $100,194 $368,160 $— $368,160 
(1)     Certain Administrative expenses have been allocated to the equipment trading segment based on a methodology that is consistent in all the periods presented.
(2) Other segment items primarily include the provision (reversal) for doubtful accounts.
(3)    Other non-allocated costs (income) include unrealized gains or losses on derivative instruments and debt termination expense.
(4)    Represents cash disbursements for purchases of leasing equipment and investments in finance leases as reflected in the Consolidated Statements of Cash Flows for the periods indicated, but excludes cash flows associated with the purchase of equipment held for resale.
Geographic allocation of revenues for the periods indicated based on the customers primary domicile and allocates equipment trading revenue based on the location of sale
The following table summarizes the geographic allocation of total leasing revenues based on customers' primary domicile (in thousands):
Three Months Ended June 30,Six Months Ended June 30,
 2025202420252024
Total revenues:  
Asia$116,750 $135,328 $265,719 $259,354 
Europe159,760 204,971 361,827 403,870 
Americas14,803 22,743 31,021 55,545 
Bermuda1,047 1,050 2,195 2,122 
Other International17,518 14,897 32,156 29,383 
Total$309,878 $378,989 $692,918 $750,274 
The following table summarizes the geographic allocation of equipment trading revenues based on the location of the sale (in thousands):
Three Months Ended June 30,Six Months Ended June 30,
 2025202420252024
Total equipment trading revenues:  
Asia$2,181 $6,483 $4,165 $8,474 
Europe2,886 2,605 4,422 4,538 
Americas8,524 2,840 15,275 6,697 
Bermuda— — — — 
Other International2,820 2,043 4,464 4,408 
Total$16,411 $13,971 $28,326 $24,117