SEGMENT INFORMATION (Tables)

6 Months Ended

Jun. 30, 2021

Schedule of Segment Reporting Information, by Segment

The following tables set forth certain information for each reportable segment:

I. For the Three Months Ended June 30, 2021


	Three Months Ended June 30, 2021
	Equipment Leasing		Infrastructure
	Aviation Leasing		Jefferson Terminal		Ports and Terminals		Corporate and Other		Total
Revenues
Equipment leasing revenues	$	78,443	$	—	$	—	$	3,128	$	81,571
Infrastructure revenues	—		11,527		2,344		1,473		15,344
Total revenues	78,443		11,527		2,344		4,601		96,915

Expenses
Operating expenses	9,145		11,777		3,828		6,433		31,183
General and administrative	—		—		—		3,655		3,655
Acquisition and transaction expenses	836		—		—		3,563		4,399
Management fees and incentive allocation to affiliate	—		—		—		4,113		4,113
Depreciation and amortization	33,732		9,315		2,216		2,108		47,371
Asset impairment	89		—		—		—		89
Interest expense	—		3,213		295		33,996		37,504
Total expenses	43,802		24,305		6,339		53,868		128,314

Other (expense) income
Equity in (losses) earnings of unconsolidated entities	(341)		—		(7,015)		204		(7,152)
Gain on sale of assets, net	3,971		—		16		—		3,987
Loss on extinguishment of debt	—		—		—		(3,254)		(3,254)
Interest income	357		—		91		6		454
Other (expense) income	—		(886)		—		2		(884)
Total other income (expense)	3,987		(886)		(6,908)		(3,042)		(6,849)
Income (loss) from continuing operations before income taxes	38,628		(13,664)		(10,903)		(52,309)		(38,248)
(Benefit from) provision for income taxes	(4)		59		(1,621)		(74)		(1,640)
Net income (loss) from continuing operations	38,632		(13,723)		(9,282)		(52,235)		(36,608)
Less: Net loss attributable to non-controlling interests in consolidated subsidiaries	—		(6,538)		(87)		—		(6,625)
Less: Dividends on preferred shares	—		—		—		6,551		6,551
Net income (loss) from continuing operations attributable to shareholders	$	38,632	$	(7,185)	$	(9,195)	$	(58,786)	$	(36,534)

III. For the Three Months Ended June 30, 2020


	Three Months Ended June 30, 2020
	Equipment Leasing		Infrastructure
	Aviation Leasing		Jefferson Terminal		Ports and Terminals		Corporate and Other		Total
Revenues
Equipment leasing revenues	$	75,259	$	—	$	—	$	4,575	$	79,834
Infrastructure revenues	—		13,081		—		1,394		14,475
Total revenues	75,259		13,081		—		5,969		94,309

Expenses
Operating expenses	4,577		12,290		1,875		5,830		24,572
General and administrative	—		—		—		4,388		4,388
Acquisition and transaction expenses	2,061		—		19		1,581		3,661
Management fees and incentive allocation to affiliate	—		—		—		4,756		4,756
Depreciation and amortization	32,203		7,160		378		1,979		41,720
Asset impairment	10,476		—		—		—		10,476
Interest expense	—		2,310		354		19,130		21,794
Total expenses	49,317		21,760		2,626		37,664		111,367

Other income (expense)
Equity in losses of unconsolidated entities	(594)		—		(2,582)		(33)		(3,209)
Gain (loss) on sale of assets, net	775		(7)		—		—		768

Interest income	17		—		—		5		22
Other expense	—		(1)		—		—		(1)
Total other income (expense)	198		(8)		(2,582)		(28)		(2,420)
Income (loss) from continuing operations before income taxes	26,140		(8,687)		(5,208)		(31,723)		(19,478)
(Benefit from) provision for income taxes	(3,427)		74		(597)		200		(3,750)
Net income (loss) from continuing operations	29,567		(8,761)		(4,611)		(31,923)		(15,728)
Less: Net loss attributable to non-controlling interests in consolidated subsidiaries	—		(4,020)		(92)		—		(4,112)
Less: Dividends on preferred shares	—		—		—		4,079		4,079
Net income (loss) from continuing operations attributable to shareholders	$	29,567	$	(4,741)	$	(4,519)	$	(36,002)	$	(15,695)

Reconciliation of Operating Profit (Loss) from Segments to Consolidated

The following table sets forth a reconciliation of Adjusted EBITDA to net loss attributable to shareholders from continuing operations:


	Three Months Ended June 30, 2021
	Equipment Leasing		Infrastructure
	Aviation Leasing		Jefferson Terminal		Ports and Terminals		Corporate and Other		Total
Adjusted EBITDA	$	80,137	$	3,555	$	376	$	(16,114)	$	67,954
Add: Non-controlling share of Adjusted EBITDA									3,257
Add: Equity in losses of unconsolidated entities									(7,152)
Less: Pro-rata share of Adjusted EBITDA from unconsolidated entities									11
Less: Interest expense									(37,504)
Less: Depreciation and amortization expense									(54,168)
Less: Incentive allocations									—
Less: Asset impairment charges									(89)
Less: Changes in fair value of non-hedge derivative instruments									(1,391)
Less: Losses on the modification or extinguishment of debt and capital lease obligations									(3,254)
Less: Acquisition and transaction expenses									(4,399)
Less: Equity-based compensation expense									(1,439)
Less: Provision for income taxes									1,640
Net loss attributable to shareholders from continuing operations									$	(36,534)

The following table sets forth a reconciliation of Adjusted EBITDA to net loss attributable to shareholders from continuing operations:


	Three Months Ended June 30, 2020
	Equipment Leasing		Infrastructure
	Aviation Leasing		Jefferson Terminal		Ports and Terminals		Corporate and Other		Total
Adjusted EBITDA	$	77,501	$	2,968	$	(885)	$	(13,112)	$	66,472
Add: Non-controlling share of Adjusted EBITDA									2,101
Add: Equity in losses of unconsolidated entities									(3,209)
Less: Pro-rata share of Adjusted EBITDA from unconsolidated entities									(126)
Less: Interest expense									(21,794)
Less: Depreciation and amortization expense									(48,341)
Less: Incentive allocations									—
Less: Asset impairment charges									(10,476)
Less: Changes in fair value of non-hedge derivative instruments									—
Less: Losses on the modification or extinguishment of debt and capital lease obligations									—
Less: Acquisition and transaction expenses									(3,661)
Less: Equity-based compensation expense									(411)
Less: Benefit from income taxes									3,750
Net loss attributable to shareholders from continuing operations									$	(15,695)

Revenue from External Customers by Geographic Areas

Summary information with respect to our geographic sources of revenue, based on location of customer, is as follows:


	Three Months Ended June 30, 2021
	Equipment Leasing		Infrastructure
	Aviation Leasing		Jefferson Terminal		Ports and Terminals		Corporate and Other		Total
Revenues
Africa	$	235	$	—	$	—	$	—	$	235
Asia	32,479		—		—		3,128		35,607
Europe	30,662		—		—		—		30,662
North America	13,358		11,527		2,344		1,473		28,702
South America	1,709		—		—		—		1,709
Total	$	78,443	$	11,527	$	2,344	$	4,601	$	96,915

Summary information with respect to our geographic sources of revenue, based on location of customer, is as follows:


	Three Months Ended June 30, 2020
	Equipment Leasing		Infrastructure
	Aviation Leasing		Jefferson Terminal		Ports and Terminals		Corporate and Other		Total
Revenues
Africa	$	1,319	$	—	$	—	$	—	$	1,319
Asia	31,732		—		—		4,575		36,307
Europe	31,287		—		—		—		31,287
North America	9,931		13,081		—		1,394		24,406
South America	990		—		—		—		990
Total	$	75,259	$	13,081	$	—	$	5,969	$	94,309

Reconciliation of Other Significant Reconciling Items from Segments to Consolidated

. Balance Sheet and Location of Long-Lived Assets

The following tables sets forth summarized balance sheet information and the geographic location of property, plant and equipment and leasing equipment, net:


	June 30, 2021
	Equipment Leasing		Infrastructure
	Aviation Leasing		Jefferson Terminal		Ports and Terminals		Corporate and Other		Total
Total assets	$	1,783,011	$	1,078,163	$	428,528	$	264,244	$	3,553,946

Debt, net	—		279,082		25,000		1,823,004		2,127,086

Total liabilities	189,738		423,695		38,816		1,860,684		2,512,933

Non-controlling interests in equity of consolidated subsidiaries	—		11,226		1,697		524		13,447

Total equity	1,593,273		654,468		389,712		(1,596,440)		1,041,013

Total liabilities and equity	$	1,783,011	$	1,078,163	$	428,528	$	264,244	$	3,553,946


	December 31, 2020
	Equipment Leasing		Infrastructure
	Aviation Leasing		Jefferson Terminal		Ports and Terminals		Corporate and Other		Total
Total assets	$	1,704,205	$	989,928	$	400,217	$	293,627	$	3,387,977

Debt, net	—		253,473		25,000		1,626,289		1,904,762

Total liabilities	219,692		365,629		38,242		1,665,093		2,288,656

Non-controlling interests in equity of consolidated subsidiaries	—		20,785		1,354		524		22,663

Total equity	1,484,513		624,299		361,975		(1,371,466)		1,099,321

Total liabilities and equity	$	1,704,205	$	989,928	$	400,217	$	293,627	$	3,387,977

Long-lived Assets by Geographic Areas


	June 30, 2021
	Equipment Leasing		Infrastructure
	Aviation Leasing		Jefferson Terminal		Ports and Terminals		Corporate and Other		Total
Property, plant and equipment and leasing equipment, net

Asia	$	398,602	$	—	$	—	$	63,054	$	461,656
Europe	799,826		—		—		—		799,826
North America	188,382		735,341		278,753		114,714		1,317,190
South America	92,420		—		—		—		92,420
Total	$	1,479,230	$	735,341	$	278,753	$	177,768	$	2,671,092


	December 31, 2020
	Equipment Leasing		Infrastructure
	Aviation Leasing		Jefferson Terminal		Ports and Terminals		Corporate and Other		Total
Property, plant and equipment and leasing equipment, net

Asia	$	445,566	$	—	$	—	$	56,702	$	502,268
Europe	774,300		—		—		—		774,300
North America	208,190		702,393		269,680		117,782		1,298,045
South America	25,009		—		—		—		25,009
Total	$	1,453,065	$	702,393	$	269,680	$	174,484	$	2,599,622