10-Q/A

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 10-Q/A

(Amendment No. 1)

ý QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For The Quarterly Period Ended September 30, 2016

Or

o TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the Transition Period from                             to   

Commission file number- 001-37827

Triton International Limited

(Exact name of registrant as specified in the charter)

Bermuda (State or other jurisdiction of incorporation or organization)	98-1276572 (I.R.S. Employer Identification Number)
22 Victoria Street, Hamilton HM12, Bermuda (Address of principal executive office)
(441) 295-2287 (Registrant's telephone number including area code)

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirement for the past 90 days. Yes o    No ý

Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files). Yes ý    No o

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer or a smaller reporting company. See definitions of "large accelerated filer," "accelerated filer" and "smaller reporting company" in Rule 12b-2 of the Exchange Act.

Large Accelerated Filer o	Accelerated Filer o	Non-accelerated filer ý	Smaller reporting company o
		(Do not check if a smaller reporting company)

Indicate by check mark whether the registrant is a shell company (as defined in rule 12b-2 of the Exchange Act). YES o    NO ý

As of November 4, 2016, there were 74,376,025 common shares, $0.01 par value, of the Registrant outstanding.

EXPLANATORY NOTE

The sole purpose of this Amendment No. 1 to Triton International Limited's Quarterly Report on Form 10-Q for the quarterly period ended September 30, 2016 (the Form 10-Q) is to file Exhibit 101 with the Form 10-Q in accordance with Rule 405 of Regulation S-T. Due to a technical error, the eXtensible Business Reporting Language (XBRL) data associated with the Form 10-Q was omitted from that filing.

No other changes have been made to the Form 10-Q. This Amendment No. 1 does not reflect any subsequent events occurring after the original filing date of the Form 10-Q or modify or update in any way disclosures made in the original filing.

Exhibit 101 consists of the following materials from the Form 10-Q, filed with the Securities and Exchange Commission on November 14, 2016, formatted in XBRL:

101.INS	XBRL Instance Document
101.SCH	XBRL Taxonomy Extension Schema Document
101.CAL	XBRL Taxonomy Calculation Linkbase Document
101.LAB	XBRL Taxonomy Extension Labels Linkbase Document
101.PRE	XBRL Taxonomy Extension Presentation Linkbase Document
101.DEF	XBRL Taxonomy Extension Definition Linkbase Document

PART II—OTHER INFORMATION

ITEM 6.    EXHIBITS.

Exhibit Number	Exhibit Description
4.1	Memorandum of Association of Triton International Limited, dated September 29, 2015 (incorporated by reference to Exhibit 3.1 to the Company’s Quarterly Report on Form 10-Q, filed June 23, 2016)
4.2	Amended and Restated Bye-Laws of Triton International Limited, dated July 12, 2016 (incorporated by reference to Exhibit 3.1 to the Company’s Current Report on Form 8-K, filed July 14, 2016)
31.1*	Certification of the Chief Executive Officer pursuant to Rules 13a-14(a) and 15d-14(a) under the Securities Exchange Act of 1934, as amended
31.2*	Certification of the Chief Financial Officer pursuant to Rules 13a-14(a) and 15d-14(a) under the Securities Exchange Act of 1934, as amended
32.1*	Certification by Chief Executive Officer pursuant to 18 U.S.C. Section 1350
32.2*	Certification by Chief Financial Officer pursuant to 18 U.S.C. Section 1350
101.INS	XBRL Instance Document
101.SCH	XBRL Instance Extension Schema
101.CAL	XBRL Taxonomy Extension Calculation Linkbase
101.DEF	XBRL Taxonomy Extension Definition Linkbase
101.LAB	XBRL Taxonomy Extension Label Linkbase
101.PRE	XBRL Taxonomy Extension Presentation Linkbase

______________________________________________________________________________

* Filed herewith.

3

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

	TRITON INTERNATIONAL LIMITED
November 14, 2016	By:	/s/ JOHN BURNS
		John Burns
		Chief Financial Officer

4

EX-31.1

Exhibit 31.1

CERTIFICATION

I, Brian M. Sondey, certify that:

1. I have reviewed this quarterly report on Form 10-Q/A of Triton International Limited;

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

4. The registrant’s other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rule 13a-15(f) and 15(d)-15(f) for the registrant and have:

(a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

(b) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

(c) Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

(d) Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and

5. The registrant’s other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions):

(a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and

(b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.

Date: November 14, 2016

/s/ BRIAN M. SONDEY

Brian M. Sondey

Chairman and Chief Executive Officer

EX-31.2

Exhibit 31.2

CERTIFICATION

I, John Burns, certify that:

1. I have reviewed this quarterly report on Form 10-Q/A of Triton International Limited;

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

4. The registrant’s other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rule 13a-15(f) and 15(d)-15(f) for the registrant and have:

(a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

(b) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

(c) Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

(d) Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and

5. The registrant’s other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions):

(a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and

(b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.

Date: November 14, 2016

/s/ JOHN BURNS

John Burns

Chief Financial Officer

EX-32.1

Exhibit 32.1

CERTIFICATION BY CHIEF EXECUTIVE OFFICER

PURSUANT TO 18 U.S.C. SECTION 1350,

AS ADOPTED PURSUANT TO

SECTION 906 OF THE SARBANES‑OXLEY ACT OF 2002

In connection with the Quarterly Report of Triton International Limited (the “Company”) on Form 10-Q/A for the period ended September 30, 2016 as filed with the Securities and Exchange Commission on the date hereof (the “Report”), I, Brian M. Sondey, Chairman and Chief Executive Officer of the Company, certify, pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes‑Oxley Act of 2002, that:

(1) The Report fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934; and

(2) The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company.

Date: November 14, 2016 /s/ BRIAN M. SONDEY

Brian M. Sondey Chairman and Chief Executive Officer

EX-32.2

Exhibit 32.2

CERTIFICATION BY CHIEF FINANCIAL OFFICER

PURSUANT TO 18 U.S.C. SECTION 1350,

AS ADOPTED PURSUANT TO

SECTION 906 OF THE SARBANES‑OXLEY ACT OF 2002

In connection with the Quarterly Report of Triton International Limited (the “Company”) on Form 10-Q/A for the period ended September 30, 2016 as filed with the Securities and Exchange Commission on the date hereof (the “Report”), I, John Burns, Chief Financial Officer of the Company, certify, pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes‑Oxley Act of 2002, that:

(1) The Report fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934; and

(2) The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company.

Date: November 14, 2016 /s/ JOHN BURNS

John Burns Chief Financial Officer

XML

Document and Entity Information - shares	9 Months Ended
	Sep. 30, 2016	Nov. 04, 2016
Document and Entity Information
Entity Registrant Name	Triton International Ltd
Entity Central Index Key	0001660734
Document Type	10-Q
Document Period End Date	Sep. 30, 2016
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Entity Filer Category	Non-accelerated Filer
Entity Common Stock, Shares Outstanding		74,376,025
Document Fiscal Year Focus	2016
Document Fiscal Period Focus	Q3

XML

Consolidated Balance Sheets - USD ($) $ in Thousands	Sep. 30, 2016	Dec. 31, 2015
ASSETS:
Leasing equipment, net of accumulated depreciation of $1,683,693 and $1,566,963	$ 7,261,562	$ 4,362,043
Net investment in finance leases, net of allowances of $527 and $526	364,114	68,107
Equipment held for sale	105,540	0
Revenue earning assets	7,731,216	4,430,150
Unrestricted cash and cash equivalents	129,123	56,689
Restricted cash	57,953	22,575
Accounts receivable, net of allowances of $26,701 and $8,297	176,015	109,519
Goodwill	261,966	0
Lease intangibles, net of accumulated amortization of $26,488 and $0	275,955	0
Other assets	55,435	40,064
Total assets	8,687,663	4,658,997
LIABILITIES AND SHAREHOLDERS' EQUITY:
Equipment purchases payable	62,638	12,128
Fair value of derivative instruments	63,137	257
Accounts payable and other accrued expenses	162,490	81,306
Net deferred income tax liability	318,906	20,570
Debt, net of unamortized deferred financing costs of $20,548 and $19,024	6,291,597	3,166,903
Total liabilities	6,898,768	3,281,164
Shareholders' equity:
Common shares, $0.01 par value, 294,000,000 shares authorized, undesignated shares $0.01 par value, 6,000,000 shares authorized, 74,376,025 and 0 shares issued, respectively	747	0
Additional paid-in capital	689,283	176,088
Accumulated earnings	956,023	1,044,402
Accumulated other comprehensive loss	(3,363)	(3,666)
Total shareholders' equity	1,642,690	1,217,329
Non-controlling interests	146,205	160,504
Total equity	1,788,895	1,377,833
Total liabilities and shareholders' equity	8,687,663	4,658,997
Class A common shares, $0.01 par value; 294,000,000 shares authorized, 44,535,732 issued and outstanding at December 31, 2015
Shareholders' equity:
Common shares, $0.01 par value, 294,000,000 shares authorized, undesignated shares $0.01 par value, 6,000,000 shares authorized, 74,376,025 and 0 shares issued, respectively	0	445
Class B common shares, $0.01 par value; 6,000,000 shares authorized, 6,000,000 issued and outstanding at December 31, 2015
Shareholders' equity:
Common shares, $0.01 par value, 294,000,000 shares authorized, undesignated shares $0.01 par value, 6,000,000 shares authorized, 74,376,025 and 0 shares issued, respectively	$ 0	$ 60

XML

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Sep. 30, 2016	Dec. 31, 2015
Statement of Financial Position [Abstract]
Leasing equipment, accumulated depreciation and allowances	$ 1,683,693	$ 1,566,963
Net investment in finance leases, allowances	527	526
Accounts receivable, allowances	26,701	8,297
Finite-Lived Intangible Assets, Accumulated Amortization	26,488	0
Deferred financing costs	20,548	19,024
Class of Stock [Line Items]
Common Stock, Value, Issued	$ 747	$ 0
Common stock, shares issued (in shares)	74,376,025	0
Class A common shares, $0.01 par value; 294,000,000 shares authorized, 44,535,732 issued and outstanding at December 31, 2015
Class of Stock [Line Items]
Common Stock, Value, Issued	$ 0	$ 445
Common stock, par value (in dollars per share)	$ 0	$ 0.01
Common stock, shares authorized (in shares)	0	294,000,000
Common stock, shares issued (in shares)	0	44,535,732
Class B common shares, $0.01 par value; 6,000,000 shares authorized, 6,000,000 issued and outstanding at December 31, 2015
Class of Stock [Line Items]
Common Stock, Value, Issued	$ 0	$ 60
Common stock, par value (in dollars per share)		$ 0.01
Common stock, shares authorized (in shares)		6,000,000
Common stock, shares issued (in shares)		6,000,000
Designated Common Stock
Class of Stock [Line Items]
Common stock, par value (in dollars per share)	$ 0.01	$ 0
Common stock, shares authorized (in shares)	294,000,000	0
Undesignated Common Stock
Class of Stock [Line Items]
Common stock, par value (in dollars per share)	$ 0.01	$ 0
Common stock, shares authorized (in shares)	6,000,000	0

XML

Consolidated Statements of Income - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Leasing revenues:
Operating leases	$ 242,899	$ 173,685	$ 560,262	$ 528,822
Finance leases	4,890	2,034	8,886	6,017
Other revenues	143	0	143	0
Total leasing revenues	247,932	175,719	569,291	534,839
Equipment trading revenues	9,820	0	9,820	0
Equipment trading expenses	(9,588)	0	(9,588)	0
Trading margin	232	0	232	0
Net (loss) gain on sale of leasing equipment	(12,319)	(3,254)	(16,086)	3,071
Operating expenses:
Depreciation and amortization	112,309	77,176	272,585	217,296
Direct operating expenses	27,815	12,886	54,298	39,008
Administrative expenses	17,456	12,166	45,136	41,896
Transaction and other costs	59,570	2,429	66,517	12,385
Provision (reversal) for doubtful accounts	22,372	11	22,201	(2,121)
Total operating expenses	239,522	104,668	460,737	308,464
Operating (loss) income	(3,677)	67,797	92,700	229,446
Other expenses:
Interest and debt expense	55,437	35,426	122,626	105,892
Realized loss on derivative instruments, net	864	1,386	2,268	4,399
Unrealized (gain) loss on derivative instruments, net	(3,487)	4,159	5,243	5,833
Write-off of deferred financing costs	0	0	141	0
Other expense (income), net	357	734	(632)	469
Total other expenses	53,171	41,705	129,646	116,593
(Loss) income before income taxes	(56,848)	26,092	(36,946)	112,853
Income tax (benefit) expense	(7,719)	112	(5,536)	3,056
Net (loss) income	(49,129)	25,980	(31,410)	109,797
Less: income attributable to noncontrolling interest	2,082	4,822	4,886	11,528
Net (loss) income attributable to shareholders	$ (51,211)	$ 21,158	$ (36,296)	$ 98,269
Net (loss) income per common share—Basic	$ (0.74)	$ 0.53	$ (0.72)	$ 2.46
Net (loss) income per common share—Diluted	(0.74)	0.52	(0.72)	2.37
Cash dividends paid per common share	$ 0.90	$ 0.00	$ 0.90	$ 0.00
Weighted average number of common shares outstanding—Basic	69,336	39,966	50,090	39,966
Dilutive share options and restricted shares	0	998	0	1,486
Weighted average number of common shares outstanding—Diluted	69,336	40,964	50,090	41,452

XML

Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Statement of Comprehensive Income [Abstract]
Net (loss) income	$ (49,129)	$ 25,980	$ (31,410)	$ 109,797
Other comprehensive income (loss):
Change in fair value of derivative instruments designated as cash flow hedges (net of income tax effect of $312, $0, $312 and $0, respectively)	574	0	574	0
Reclassification of realized (gain) on interest rate swap agreements designated as cash flow hedges (net of income tax effect of $(100), $0, $(100) and $0, respectively)	(184)	0	(184)	0
Foreign currency translation adjustment	57	(142)	(87)	(368)
Other comprehensive income (loss), net of tax	447	(142)	303	(368)
Other comprehensive income attributable to noncontrolling interest	(2,082)	(4,822)	(4,886)	(11,528)
Comprehensive (loss) income, attributable to shareholders	$ (50,764)	$ 21,016	$ (35,993)	$ 97,901

XML

Consolidated Statements of Comprehensive Income (Parenthetical) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Statement of Comprehensive Income [Abstract]
Change in fair value derivative instruments designated as cash flow hedges, income tax effect	$ 312	$ 0	$ 312	$ 0
Reclassification of realized loss on interest rate swap agreements designated as cash flow hedges, income tax effect	(100)	0	(100)	0
Amortization of loss on terminated derivative instruments designated as cash flow hedges, income tax effect	$ 0	$ 0	$ 0	$ 0

XML

Consolidated Statements of Cash Flows - USD ($) $ in Thousands		9 Months Ended
		Sep. 30, 2016	Sep. 30, 2015
Cash flows from operating activities:
Net (loss) income		$ (31,410)	$ 109,797
Adjustments to reconcile net (loss) income to net cash provided by operating activities:
Depreciation and amortization		272,585	217,296
Amortization of deferred financing costs and other debt related amortization		8,758	10,135
Amortization of lease premiums		26,488	0
Share compensation expense		4,334	9,546
Net loss (gain) on sale of leasing equipment		16,086	(3,071)
Deferred income taxes		(6,773)	2,107
Changes in operating assets and liabilities, net of acquired assets and liabilities:
Decrease in accounts receivable		15,928	6,644
Increase in accounts payable and other accrued expenses		26,679	7,613
Net equipment sold for resale activity		2,595	0
Other changes in operating assets and liabilities		2,212	(3,023)
Net cash provided by operating activities		337,482	357,044
Cash flows from investing activities:
Purchases of leasing equipment and investments in finance leases	[1]	(384,739)	(375,804)
Proceeds from sale of equipment, net of selling costs		102,376	134,577
Cash collections on finance lease receivables, net of income earned		22,315	10,326
Cash and cash equivalents acquired		50,349	0
Other		(366)	(2,404)
Net cash used in investing activities		(210,065)	(233,305)
Cash flows from financing activities:
Redemption of common shares		(4,199)	0
Financing fees paid under debt facilities		(5,718)	(2,972)
Borrowings under debt facilities		367,700	535,000
Payments under debt facilities and capital lease obligations		(365,697)	(630,260)
Decrease in restricted cash		23,736	8,668
Common share dividends paid		(51,620)	0
Distributions to noncontrolling interest		(19,185)	(38,035)
Net cash used in financing activities		(54,983)	(127,599)
Net increase (decrease) in unrestricted cash and cash equivalents		72,434	(3,860)
Unrestricted cash and cash equivalents, beginning of period		56,689	65,607
Unrestricted cash and cash equivalents, end of period		129,123	61,747
Supplemental non-cash investing activities:
Equipment purchases payable		$ 62,638	$ 12,128

[1] 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.

XML

Description of the Business, Basis of Presentation and Recently Adopted Accounting Pronouncements

9 Months Ended

Sep. 30, 2016

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, Basis of Presentation and Recently Adopted Accounting Pronouncements

A.    Description of the Business

Triton, 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 Company operates in both international and U.S. markets. The majority of Triton’s business is derived from leasing its containers to shipping line customers through a variety of long-term and short-term contractual lease arrangements. Triton also sells its own containers and containers purchased from third parties and enters into management agreements with third party container owners under which the Company manages the leasing and selling of containers on behalf of the third party owners for a fee. The Company's registered office is located at 22 Victoria Street, Hamilton HM12, Bermuda.

B.    Basis of Presentation

The consolidated financial statements of Triton presented herein reflect, for each period presented below that follows the completion of the mergers, the consolidated results of operations of TAL and TCIL. The consolidated financial statements of Triton presented herein represent the historical financial statements of TCIL, the accounting acquirer, and also reflect the results of operations of TAL after July 12, 2016, the date of the acquisition.

In addition, certain information and note disclosures normally included in financial statements prepared in accordance with U.S. generally accepted accounting principles have been condensed or omitted pursuant to such rules and regulations, although the Company believes that the disclosures are adequate to make the information presented not misleading. These financial statements reflect, in the opinion of management, all adjustments (consisting only of normal recurring adjustments) necessary to present fairly the results for the interim periods. The results of operations for such interim periods are not necessarily indicative of the results for the full year. These financial statements should be read in conjunction with the consolidated financial statements and the notes thereto included in the Company's Form S-4 filed with the SEC, on May 6, 2016 and our other reports filed with the SEC through the current date pursuant to the Exchange Act.

The preparation of financial statements in conformity with U.S. generally accepted accounting principles 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 at the date of the financial statements. Such estimates include our estimates in connection with purchase accounting, residual value, depreciable lives, values of assets held for sale, and estimates related to the bankruptcy of a lessee (including amounts for recoveries under insurance policies as described below) among others. Actual results could differ from those estimates.

The consolidated financial statements include the accounts of the Company and its subsidiaries. All intercompany transactions and balances have been eliminated in consolidation. Certain reclassifications have been made to the accompanying prior period financial statements and notes to conform to the current year's presentation.

C.    Impact from Lessee Bankruptcy

On August 31, 2016, Hanjin Shipping Co. ("Hanjin"), a lessee of the Company, filed for court protection and immediately began a liquidation process. At that time, we had approximately 87,000 container units on lease to Hanjin with a net book value of $243.3 million.

The Company maintains credit insurance to cover the value of such containers that are unrecoverable, costs incurred to recover containers and a portion of lost lease revenue, (limited up to six months or until a container is recovered, repaired, and available for re-lease) all subject to a deductible. In connection with the Hanjin bankruptcy, the Company has recorded a charge to bad debt expense in the three and nine-months ended September 30, 2016 of $23.4 million, and an accrual for additional costs not expected to be recovered under our insurance policies due to the deductible limits of $6.5 million. Upon the announcement of the Hanjin bankruptcy, the Company ceased recognizing revenue from the customer which amounted to $6.3 million during the three and nine-months ended September 30, 2016. A portion of this lost revenue has been applied towards the deductible under the policies. The Company has recorded a receivable under one insurance policy of approximately $0.6 million since the deductible has been achieved. At the present time, the Company believes the anticipated losses as a result of Hanjin will be recoverable under the insurance policies, subject to the deductible limits.

The Company estimates that a large portion of its equipment will ultimately be recovered, and this estimate has been considered into the estimated loss described above.

Note 1—Description of the Business, Basis of Presentation and Recently Adopted Accounting Pronouncements (continued)

D.    New Accounting Pronouncements

In March 2016, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update No. 2016-08 ("ASU No. 2016-08"), Revenue from Contracts with Customers (Topic 606), amending previous updates regarding this topic. The effective date is interim periods beginning after December 15, 2017. Earlier application is permitted. The Company is evaluating the transition method that will be elected and the potential effects of adopting the provisions of ASU No. 2016-08.

In August 2014, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update No. 2014-15 ("ASU No. 2014-15"), Presentation of Financial Statements (Topic 205): Disclosure of Uncertainties about an Entity's Ability to Continue as a Going Concern. This standard requires management to evaluate whether there are conditions or events, considered in the aggregate, that raise substantial doubt about the entity’s ability to continue as a going concern within one year after the date that financial statements are issued and to disclose those conditions if management has concluded that substantial doubt exists. Subsequent to adoption, this guidance will need to be applied by management at the end of each annual period and interim period therein to determine what, if any, impact there will be on the Consolidated Financial Statements in a given reporting period. These changes become effective for the Company for the 2016 annual period. Management has determined that the adoption of these changes will not have an impact on the Consolidated Financial Statements as this standard is disclosure only.

In April 2015, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update No. 2015-03 ("ASU No. 2015-03"), Imputation of Interest (Topic 835): Simplifying the Presentation of Debt Issuance Costs, which was updated in August 2015 by Accounting Standards Update No. 2015-15 ("ASU No. 2015-15"), Imputation of Interest (Topic 835): Presentation and Subsequent Measurement of Debt Issuance Costs Associated with Line-of-Credit Agreements. These standards change the presentation of debt issuance costs in the financial statements but do not affect the recognition and measurement of debt issuance costs. Generally, the ASU specifies that debt issuance costs related to debt shall be reported in the balance sheet as a direct deduction from the face amount of that note and that amortization of debt issuance costs also shall be reported as interest expense. These changes became effective for the Company as of December 31, 2015. The Company adopted ASU No. 2015-15 in conjunction with ASU No. 2015-03, with no impact on its results of operations or cash flows and no material impact on its financial position.

In February 2016, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update No. 2016-02 ("ASU No. 2016-02"), Leases (Topic 842) that replaces existing lease guidance. The accounting applied by lessors under Topic 842 is largely unchanged from previous GAAP. The new lease guidance will become effective for the Company for periods beginning after December 15, 2018. The Company is currently evaluating the effect the guidance will have on the Consolidated Financial Statements, but does not expect any material impact to its Consolidated Financial Statements.

In March 2016, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update No. 2016-09 ("ASU No. 2016-09"), Compensation-Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting. The updated guidance changes how companies account for certain aspects of share-based payment awards to employees, including the accounting for income taxes, forfeitures, and statutory tax withholding requirements, as well as classification in the statement of cash flows. The update to the standard is effective for the Company for periods beginning after December 15, 2016. The Company is currently evaluating the effect the guidance will have on the Consolidated Financial Statements.

Description of the Business, Basis of Presentation and Recently Adopted Accounting Pronouncements

Description of the Business

Triton, 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 Company operates in both international and U.S. markets. The majority of Triton’s business is derived from leasing its containers to shipping line customers through a variety of long-term and short-term contractual lease arrangements. Triton also sells its own containers and containers purchased from third parties and enters into management agreements with third party container owners under which the Company manages the leasing and selling of containers on behalf of the third party owners for a fee. The Company's registered office is located at 22 Victoria Street, Hamilton HM12, Bermuda.

B.    Basis of Presentation

The consolidated financial statements of Triton presented herein reflect, for each period presented below that follows the completion of the mergers, the consolidated results of operations of TAL and TCIL. The consolidated financial statements of Triton presented herein represent the historical financial statements of TCIL, the accounting acquirer, and also reflect the results of operations of TAL after July 12, 2016, the date of the acquisition.

In addition, certain information and note disclosures normally included in financial statements prepared in accordance with U.S. generally accepted accounting principles have been condensed or omitted pursuant to such rules and regulations, although the Company believes that the disclosures are adequate to make the information presented not misleading. These financial statements reflect, in the opinion of management, all adjustments (consisting only of normal recurring adjustments) necessary to present fairly the results for the interim periods. The results of operations for such interim periods are not necessarily indicative of the results for the full year. These financial statements should be read in conjunction with the consolidated financial statements and the notes thereto included in the Company's Form S-4 filed with the SEC, on May 6, 2016 and our other reports filed with the SEC through the current date pursuant to the Exchange Act.

The preparation of financial statements in conformity with U.S. generally accepted accounting principles 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 at the date of the financial statements. Such estimates include our estimates in connection with purchase accounting, residual value, depreciable lives, values of assets held for sale, and estimates related to the bankruptcy of a lessee (including amounts for recoveries under insurance policies as described below) among others. Actual results could differ from those estimates.

The consolidated financial statements include the accounts of the Company and its subsidiaries. All intercompany transactions and balances have been eliminated in consolidation. Certain reclassifications have been made to the accompanying prior period financial statements and notes to conform to the current year's presentation.

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Common Shares Common Shares (Notes)

9 Months Ended

Sep. 30, 2016

Equity [Abstract]

Common Shares

Note 2—Common Shares

As of July 12, 2016, the effective time of the mergers, Triton is authorized to issue up to 294,000,000 (par value $0.01) common shares and up to 6,000,000 (par value $0.01) undesignated shares.

In the event of a voluntary or involuntary liquidation, dissolution or winding up of Triton, the holders of Triton common shares will be entitled to share equally in any of the assets available for distribution after Triton has paid in full all of its debts.

Triton common shares issued upon the completion of the mergers on July 12, 2016 were validly issued, fully paid and non-assessable (meaning that no further sums are required to be paid by the holders of such shares in connection with the issue of such shares). Holders of Triton common shares will not be entitled to preemptive rights. Triton common shares will not be convertible into shares of any other class of common shares.

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Acquisition (Notes)

9 Months Ended

Sep. 30, 2016

Business Combinations [Abstract]

Acquisition [Table Text Block]

Note 3—Acquisition

On November 9, 2015, TCIL and TAL announced that they entered into a definitive agreement, under which the companies agreed to combine in an all-stock merger, pursuant to the Transaction Agreement, dated as of November 9, 2015 (the "Transaction Agreement"), by and among TAL, Triton International Limited ("Triton" or the "Company"), TCIL, Ocean Delaware Sub, Inc., a Delaware corporation and direct wholly owned subsidiary of Triton, and Ocean Bermuda Sub Limited, a Bermuda exempted company and direct wholly owned subsidiary of Triton.

On July 12, 2016, the transactions contemplated by the Transaction Agreement (the "mergers") were approved by the stockholders of TAL and became effective. Immediately following the completion of the mergers, former TCIL shareholders owned approximately 55% of the outstanding equity of the Company and former TAL stockholders owned approximately 45% of the outstanding equity of the Company.

The Company has accounted for the mergers described above under the acquisition method of accounting in accordance with the FASB Accounting Standards Topic No. 805, Business Combinations (“ASC No. 805”). Triton has been treated as the acquirer in the mergers for accounting purposes. In making the determination of the accounting acquirer, Triton considered all pertinent information and facts related to the combined entity as identified by ASC No. 805-10-55-12 to 15, which included relative voting rights, presence of a large minority interest, composition of the Board of Directors and senior management, terms of the exchange of equity interests, and relative size. In the aggregate, it was concluded that factors, such as the former Triton shareholders’ 55% voting rights in the combined entity, after considering certain voting limitations, the presence of a large minority voting interest concentrated within the former Company shareholders and the relative size of Triton in relation to TAL, indicated that Triton should be the accounting acquirer.

The consideration for the transaction was paid in common shares of Triton with TAL stockholders receiving one common share of Triton in exchange for each share of TAL common shares of 33.4 million and TCIL’s shareholders received approximately 0.80 of Triton common shares for each of TCIL's common shares. The fair value of the consideration, or the purchase price in the following preliminary purchase price allocation is approximately $510.2 million. This amount was derived based on the fair value of the shares issued to former TAL shareholders.

Triton has allocated the purchase price to the fair value of the TAL assets acquired and liabilities assumed based on preliminary estimates. The preliminary purchase price allocation below has been developed based on preliminary estimates of fair value using the historical financial statements of TAL as of July 12, 2016. In addition, the allocation of the purchase price to acquired tangible and intangible assets is based on preliminary fair value estimates and is subject to final management analysis, with the assistance of third-party valuation advisers.

Since the date of acquisition, total leasing revenues and net loss attributable to shareholders include TAL's results of $94.6 million and $22.6 million, respectively.

Note 3—Acquisition (continued)

The residual amount of the purchase price after the preliminary allocation to identifiable intangibles has been allocated to goodwill. The actual amounts recorded when the final allocations are complete may differ materially from the preliminary amounts presented below:

Net assets acquired:	(in thousands)
Unrestricted cash and cash equivalents	$	50,349
Restricted cash	59,115
Accounts receivable, net	58,646
Leasing equipment	3,052,693
Net investment in finance leases	159,885
Equipment held for sale	80,655
Goodwill	261,966
Other assets	32,084
Intangible assets	302,757
Accounts payable and other accrued expenses	(47,674		)
Derivative instruments	(64,206		)
Equipment purchases payable	(10,071		)
Deferred income tax liability	(304,895		)
Debt	(3,121,118		)
Total consideration	$	510,186

Triton reported transaction and other costs related to the mergers. These expenses are included in "Transaction and other costs" in our Consolidated Statements of Operations. Transaction and other costs associated with the mergers for the three and nine months ended September 30, 2016 and 2015, respectively, were as follows:

	Three Months Ended   September 30,				Nine Months Ended   September 30,
	2016		2015		2016		2015
Employee compensation costs	$	42,773	$	2,429	$	47,028	$	12,261
Professional fees	12,615		—		13,818		112
Legal expenses	1,810		—		3,290		12
Other	2,372		—		2,381		—
Total	$	59,570	$	2,429	$	66,517	$	12,385

Employee compensation costs include costs to maintain and retain key employees, severance expenses, and certain stock compensation expense, including retention and stock compensation expense pursuant to plans established as part of TCIL's 2011 re-capitalization. The accrual related to employee compensation costs is $56.7 million included in accounts payable and other accrued expenses as of September 30, 2016.

Professional fees and legal expenses include costs paid for services directly related to the closing of the mergers and include legal fees, accounting fees and transaction and advisory fees.

Note 3—Acquisition (continued)

Pro Forma Disclosure

The following table provides the unaudited pro forma results of operations, which gives effect to the transaction as if it had occurred on the first day of the earliest period presented (January 1, 2015). The pro forma results of operations reflects adjustments (i) to adjust amortization and depreciation expense resulting from the write-down of leasing equipment to fair value and the fair value of operating lease contracts over the current market rate as a result of purchase accounting and (ii) to eliminate non-recurring charges that were incurred in connection with the transactions including acquisition-related share-based compensation, transaction costs related to legal, accounting, and other advisory fees, and transaction costs related to retention and benefit costs.

The unaudited pro forma results do not include any anticipated synergies or other expected benefits of the mergers. The unaudited pro forma financial information presented below is not necessarily indicative of either future results of operations or results that might have been achieved had the mergers occurred as of January 1, 2015.

	Nine Months Ended   September 30,
	2016		2015
Total revenues	$	815,675	$	903,035
Net income	11,646		156,503

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Fair Value of Financial Instruments

9 Months Ended

Sep. 30, 2016

Fair Value Disclosures [Abstract]

Fair Value of Financial Instruments

Note 4—Fair Value of Financial Instruments

The Company believes that the carrying amounts of its cash and cash equivalents, accounts receivable, equipment purchases payable, and accounts payable approximated their fair value as of September 30, 2016 and December 31, 2015.

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 utilizes the following fair value hierarchy when selecting inputs for its valuation techniques, with the highest priority given to Level 1:

• Level 1—Financial assets and liabilities whose values are based on observable inputs such as quoted prices for identical instruments in active markets (unadjusted).

• Level 2—Financial assets and liabilities whose values are based on observable inputs such as (i) quoted prices for similar instruments in active markets, (ii) quoted prices for identical or similar instruments in markets that are not active, or (iii) model-derived valuations in which all significant inputs are observable in active markets.

• Level 3—Financial assets and liabilities whose values are derived from valuation techniques based on one or more significant unobservable inputs.

The Company does not record debt at fair value in its consolidated balance sheets. The fair value, which was measured using Level 2 inputs, and the carrying value of the Company's debt is listed in the table below as of the dates indicated (in thousands):

	September 30, 2016		December 31, 2015
Liabilities
Total debt(1) - carrying value	$	6,312,145	$	3,185,927
Total debt(1) - estimated fair value	$	6,409,767	$	3,256,284

______________________________________________________________________________

(1) Excludes unamortized deferred financing costs of $20.5 million and $19.0 million as of September 30, 2016 and December 31, 2015, respectively.

The Company estimated the fair value of its debt instruments based on the net present value of its future payments, using a discount rate which reflects the Company's estimate of current market interest rates and spreads as of the balance sheet date.

For the fair value of derivatives, please refer to Note 9 - "Derivative Instruments".

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Dividends

9 Months Ended

Sep. 30, 2016

Stockholders' Equity Note [Abstract]

Dividends

Note 5—Dividends

Dividends

The Company paid the following quarterly dividends during the nine months ended September 30, 2016 on its issued and outstanding common shares adjusted for the effects of the mergers:

Record Date	Payment Date	Aggregate Payment	Per Share Payment
September 8, 2016	September 22, 2016	$33.3 Million	$0.45
July 8, 2016	July 11, 2016	$18.3 Million	$0.45

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Restricted Shares, Share Options and Accumulated Other Comprehensive Income / (Loss)

9 Months Ended

Sep. 30, 2016

Equity [Abstract]

Capital Stock and Stock Options

Note 6—Restricted Shares, Share Options and Accumulated Other Comprehensive (Loss)

The Company accounts for compensation cost relating to share-based payment transactions in accordance with the FASB Accounting Standards Codification No. 718, Compensation-Stock Compensation. The cost is measured at the grant date, based on the calculated fair value of the award, and is recognized as an expense over the employee's requisite service period (generally the vesting period of the equity award) on a straight-line basis.

Unvested restricted shares of approximately 538,000 as of September 30, 2016 were considered anti-dilutive due to net losses for the three and nine months ended September 30, 2016.

TCIL

Share Options

Effective May 23, 2011, TCIL adopted a share-based compensation plan (the “Option Plan”) for the benefit of certain executives of TCIL and its consolidated subsidiaries. The Option Plan allows for the issuance of service-based and market-based options.

On November 9, 2015, TCIL entered into option transaction agreements (the “Option Transaction Agreements”) with option holders in anticipation of the closing of the merger with TAL. In accordance with the terms of the Option Transaction Agreements, TCIL settled and cancelled all vested and unvested market-based options as of November 9, 2015 in exchange for 865,157 fully vested Class A common shares at $14.51 per share, of which approximately 371,000 were redeemed to satisfy tax withholding obligations in respect of the settlement.

On July 8, 2016, TCIL settled and cancelled all vested and unvested service-based options in exchange for approximately 647,000 fully vested Class A common shares at $10.94 per share, of which approximately 291,000 were redeemed to satisfy tax withholding obligations in respect of the settlement.

Restricted Shares

On July 8, 2016, approximately 143,000 restricted Class A common shares were issued to Option Plan participants after approval and authorization by the Board of Directors. The shares were granted at $10.94, which will be amortized on a straight line basis over an approximately 30-month vesting period. On July 12, 2016, the 143,000 restricted Class A common shares were converted to approximately 114,000 common shares of the Company under the terms of the mergers pursuant to which TCIL shareholders received approximately 0.80 common shares of the Company for each of TCIL's common shares.

Non-Employee Director Equity Plan

On May 19, 2016, TCIL entered into equity repurchase and cash bonus agreements with certain management shareholders and non-employee directors whereby TCIL agreed to repurchase approximately 30,700 restricted Class A common shares at a fair market value redemption price of $12.26 per share. On July 12, 2016, these restricted Class A common shares became fully vested and converted as a result of the mergers.

Note 6—Restricted Shares, Share Options and Accumulated Other Comprehensive (Loss) (continued)

TAL

TAL Stock Based Compensation Plan

TAL’s previously existing stock-based compensation plans consisted of the 2005 Management Omnibus Incentive Plan and the 2014 Equity Incentive Plan. The TAL restricted shares granted in 2014 and 2015 vested on July 12, 2016 upon the closing of

the mergers. A total of 140,000 restricted shares granted in January 2016 were converted to Triton restricted shares and will vest in approximately 2.25 years in accordance with their original terms. Unearned compensation expense of $1.4 million will be amortized to Administrative expenses on a straight line basis over the remaining vesting period.

Triton

2016 Triton Plan

On September 7, 2016, the Company’s Compensation Committee approved the grants of restricted shares to various executives, certain employees and directors. Under the Company’s 2016 Equity Incentive Plan the total number of restricted shares granted to executives and employees was approximately 418,000 at a fair value of $14.55 per share and will vest over 3 years. Additional shares may be granted based upon performance. There were approximately 47,000 shares granted at $14.55 per share to directors and these shares vested immediately on September 7, 2016. Total unrecognized compensation costs of approximately $6.8 million as of September 30, 2016 related to the September 2016 grants of restricted shares will be recognized over the remaining weighted average vesting period of approximately 2.9 years.

Accumulated Other Comprehensive (Loss)

Accumulated other comprehensive (loss) consisted of the following as of the dates indicated (in thousands and net of tax effects):

	Cash Flow Hedges			Foreign Currency Translation			Accumulated Other Comprehensive (Loss) Income
Balance as of December 31, 2015	$	—		$	(3,666	)	$	(3,666	)
Change in fair value of derivative instruments designated as cash flow hedges	574			—			574
Reclassification of realized (gain) on interest rate swap agreements designated as cash flow hedges	(184		)	—			(184		)
Foreign currency translation adjustment	—			(87		)	(87		)
Other comprehensive income (loss)	390			(87		)	303
Balance as of September 30, 2016	$	390		$	(3,753	)	$	(3,363	)

	Cash Flow Hedges		Foreign Currency Translation			Accumulated Other Comprehensive (Loss) Income
Balance as of December 31, 2014	$	—	$	(3,258	)	$	(3,258	)
Foreign currency translation adjustment	—		(368		)	(368		)
Other comprehensive (loss)	—		(368		)	(368		)
Balance as of September 30, 2015	$	—	$	(3,626	)	$	(3,626	)

Note 6—Restricted Shares, Share Options and Accumulated Other Comprehensive (Loss) (continued)

The following table presents reclassifications out of Accumulated other comprehensive (loss) for the period indicated (in thousands):

	Amounts Reclassified From Accumulated Other Comprehensive (Loss)										Affected Line Item in the Consolidated Statements of Income
	Three Months Ended   September 30,					Nine Months Ended   September 30,
	2016			2015		2016			2015
Amounts reclassified from Accumulated other comprehensive (loss) related to designated interest rate swaps	$	(284	)	$	—	$	(284	)	$	—	Interest and debt expense
Income tax (benefit)	100			—		100			—		Income tax expense
Amounts reclassified from Accumulated other comprehensive (loss)	$	(184	)	$	—	$	(184	)	$	—	Net income

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Net Investment in Finance Leases

9 Months Ended

Sep. 30, 2016

Leases, Capital [Abstract]

Net Investment in Finance Leases

Note 7—Net Investment in Finance Leases

The following table represents the components of the net investment in finance leases (in thousands):

	September 30, 2016			December 31, 2015
Future minimum lease payment receivable	377,881			$	91,488
Estimated residuals receivable	65,899			125
Allowance on gross finance lease receivables	(527		)	(526		)
Gross finance lease receivables, net of allowance	443,253			91,087
Unearned income	(79,139		)	(22,980		)
Net investment in finance leases	$	364,114		$	68,107

The Company evaluates potential losses in its finance lease portfolio by regularly reviewing the specific receivables in the portfolio and analyzing historical loss experience. Net investment in finance lease receivables is generally charged off after an analysis is completed which indicates that collection of the full balance is remote.

In order to estimate its allowance for losses contained in the gross finance lease receivables, the Company categorizes the credit worthiness of the receivables in the portfolio based on internal customer credit ratings, which are reviewed and updated, as appropriate, on an ongoing basis. The internal customer credit ratings are developed based on a review of the financial performance and condition, operating environment, geographical location and trade routes of our customers.

The following table represents the activity of the Company's allowance on gross finance lease receivables for the periods presented (in thousands):

	Beginning Balance		Additions/ (Reversals)		Ending Balance
Finance Lease— Allowance for doubtful accounts:
For the nine months ended
September 30, 2016	$	526	$	1	$	527

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Debt

9 Months Ended

Sep. 30, 2016

Debt Disclosure [Abstract]

Debt

Note 8—Debt

Debt consisted of the following (amounts in thousands):

	September 30, 2016			December 31, 2015
Asset backed securitization (ABS) notes	$	1,451,490		$	557,144
Term loan facilities	1,300,439			331,500
Asset backed warehouse facility	660,000			—
Revolving credit facilities	650,250			142,750
Capital lease obligations	75,367			13,676
Institutional notes	2,220,286			2,140,857
Total debt outstanding	$	6,357,832		$	3,185,927
Deferred financing costs	(20,548		)	(19,024		)
Purchase price debt adjustment	$	(45,687	)	$	—
Debt, net of unamortized deferred financing costs	$	6,291,597		$	3,166,903

As of September 30, 2016, the Company had $3.3 billion of debt outstanding on facilities with fixed interest rates and $3.1 billion of debt outstanding on facilities with interest rates based on floating rate indices (primarily LIBOR). The Company economically 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 September 30, 2016, the Company had interest rate swaps in place with a notional amount of $1.6 billion to fix the floating interest rates on a portion of its floating rate debt obligations.

The Company is subject to certain financial covenants under its debt facilities, and as of September 30, 2016, was in compliance with all such covenants.

Asset Backed Securitization Term Notes

On April 8, 2016, TCF-III and the holders of the TCF-III Series 2009-1 Notes restructured the TCF-III Series 2009-1 Notes from a warehouse facility to a five-year amortizing term loan. Effective April 8, 2016, TCF-III was no longer able to borrow under the TCF-III Series 2009-1 Notes. The outstanding principal balance of the TCF-III Series 2009-1 Notes at closing was $316.7 million. The contractual interest rate of the TCF-III Series 2009‑1 Notes was modified from (i) one-month LIBOR, or the commercial paper rate, plus an applicable margin of 1.60%, to (ii) one-month LIBOR, or the commercial paper rate, plus an applicable margin of 2.00%.

Between May 31, 2016 and June 1, 2016, TCF-III entered into three interest rate swap agreements in order to fix the interest rate on a portion of the outstanding principal balance of the TCF-III Series 2009-1 Notes. These interest rate swaps have fixed interest rates ranging between 1.11% and 1.12% per year and termination dates through April 2021 and had a total notional amount of $229.1 million at September 30, 2016.

TCIL Credit Facility

On April 15, 2016, TCIL and a group of commercial banks entered into an amendment and restatement of the TCIL Credit Facility providing for the extension of the facility termination date from November 4, 2016 to April 15, 2021, and the reduction of the aggregate commitment amount thereunder from $600.0 million (which was shared under the prior TCIL Credit Facility with the TCI Credit Facility) to an aggregate commitment, available to TCIL only, of $300.0 million. An accordion feature provided for up to $300.0 million of increased and/or additive commitments for TCIL (for a total of up to $600.0 million of aggregate commitments). No changes were made to the borrowing base or to the pricing of the TCIL Credit Facility.

On May 23, 2016, the aggregate commitments under the TCIL Credit Facility were increased to $555.0 million pursuant to the accordion feature. On August 31, 2016, the aggregate commitments under the TCIL Credit Facility were increased to $600.0 million.

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Derivative Instruments

9 Months Ended

Sep. 30, 2016

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Derivative Instruments

Note 9—Derivative Instruments

Interest Rate Swaps

The Company has entered into interest rate swap agreements to manage interest rate risk exposure. Interest rate swap agreements utilized by the Company effectively modify 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. Such 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.

As of September 30, 2016, the Company had interest rate swap 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 Fixed Leg (Pay) Interest Rate	Cap Rate	Weighted Average Remaining Term
Interest rate swaps	$1.6 Billion	1.73%	—%	5.0 years
Interest rate caps	$92.1 Million	—%	4.0%	1.0 year

Fair Value of Derivative Instruments

Under the criteria established by ASC 820, the Company has elected to use the income approach to value its interest rate swap agreements, using observable 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 forward valuations are limited to quoted prices for similar assets or liabilities in active markets and inputs other than quoted prices that are observable for the asset or liability (specifically LIBOR cash and swap rates, basis swap adjustments and credit risk at commonly quoted intervals).

Note 9—Derivative Instruments (Continued)

Location of Derivative Instruments in Financial Statements

		Fair Value of Derivative Instruments (In Millions)
		Asset Derivatives				Liability Derivatives
		September 30, 2016		December 31, 2015		September 30, 2016		December 31, 2015
Derivative Instrument	Balance Sheet Location	Fair Value		Fair Value		Fair Value		Fair Value
Interest rate swap contracts, designated as cash flow hedges	Fair value of derivative instruments	$	—	$	—	$	58.0	$	—
Interest rate swap contracts, not designated	Fair value of derivative instruments	—		2.2		5.1		0.3
Total derivatives		$	—	$	2.2	$	63.1	$	0.3

		Effect of Derivative Instruments on Consolidated Statements of Income and Consolidated Statements of Comprehensive Income (In Millions)
		Three Months Ended    September 30,					Nine Months Ended   September 30,
	Location of Loss (Gain) on Derivative Instruments
		2016			2015		2016			2015
Realized loss on non-designated interest rate swaps	Realized loss on derivative instruments, net	$	0.9		$	1.4	$	2.3		$	4.4
Change in fair value of derivatives, designated as cash flow hedges	Other comprehensive income	(0.9		)	—		(0.9		)	—
Realized (gain) on designated interest rate swap agreements	Interest and debt expense	(0.3		)	—		(0.3		)	—
Net (gain) loss on interest rate swaps, not designated	Unrealized (gain) loss on derivative instruments, net	$	(3.5	)	$	4.2	$	5.2		$	5.8

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Segment and Geographic Information

9 Months Ended

Sep. 30, 2016

Segment Reporting [Abstract]

Segment and Geographic Information

Note 10—Segment and Geographic Information

Industry Segment Information

The Company conducts its business activities in one industry, intermodal transportation equipment, and has two reporting segments:

• Equipment leasing—the Company owns, leases and ultimately disposes of containers and chassis from its lease fleet, as well as manages leasing activities for containers owned by third parties.

• 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.

Triton acquired the Equipment trading segment as part of the acquisition on July 12, 2016 and had no such reporting segment prior to that time. The purchase price allocation and goodwill are preliminary estimates as of September 30, 2016, and therefore, the goodwill allocated to the equipment trading segment is also preliminary.

The following tables show segment information for the periods indicated and the consolidated totals reported (in thousands):

	Three Months Ended September 30,
	2016									2015
	Equipment Leasing			Equipment Trading			Totals			Equipment Leasing			Equipment Trading		Totals
Total leasing revenues	$	247,154		$	778		$	247,932		$	175,719		$	—	$	175,719
Trading margin	—			232			232			—			—		—
Net (loss) on sale of leasing equipment	(12,319		)	—			(12,319		)	(3,254		)	—		(3,254		)
Depreciation and amortization expense	112,134			175			112,309			77,176			—		77,176
Interest and debt expense	55,124			313			55,437			35,426			—		35,426
Realized loss on derivative instruments, net	864			—			864			1,386			—		1,386
(Loss) Income before income taxes	(52,869		)	(3,979		)	(56,848		)	26,092			—		26,092

_______________________________________________________________________________

(1) Segment income before income taxes excludes unrealized gains or losses on interest rate swaps and the write-off of deferred financing costs. Unrealized gains on interest rate swaps were $3.5 million and unrealized losses on interest rate swaps of $4.2 million for the three months ended September 30, 2016 and 2015, respectively. There were no write-offs of deferred financing costs the three months ended September 30, 2016 and 2015, respectively.

	Nine Months Ended September 30,
	2016									2015
	Equipment Leasing			Equipment Trading			Totals			Equipment Leasing		Equipment Trading		Totals
Total leasing revenues	$	568,513		$	778		$	569,291		$	534,839	$	—	$	534,839
Trading margin	—			232			232			—		—		—
Net (loss) gain on sale of leasing equipment	(16,086		)	—			(16,086		)	3,071		—		3,071
Depreciation and amortization expense	272,410			175			272,585			217,296		—		217,296
Interest and debt expense	122,313			313			122,626			105,892		—		105,892
Realized loss on derivative instruments, net	2,268			—			2,268			4,399		—		4,399
(Loss) Income before income taxes	(32,967		)	(3,979		)	(36,946		)	112,853		—		112,853
Equipment held for sale at September 30	90,146			15,394			105,540			—		—		—
Goodwill at September 30	244,475			17,491			261,966			—		—		—
Total assets at September 30	8,633,818			53,845			8,687,663			4,775,329		—		4,775,329
Purchases of leasing equipment and investments in finance leases(2)	384,739			—			384,739			375,804		—		375,804

_______________________________________________________________________________

Note 10—Segment and Geographic Information (Continued)

(1) Segment income before income taxes excludes unrealized gains or losses on interest rate swaps and the write-off of deferred financing costs. Unrealized losses on interest rate swaps were $5.2 million and $5.8 million for the nine

months ended September 30, 2016 and 2015, respectively. Write-offs of deferred financing costs for the nine months ended September 30, 2016 were $0.1 million and there were no such write-offs for the nine months ended September 30, 2015.

(2) 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.

There are no intercompany revenues or expenses between segments. Additionally, 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 our 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 earns most of its leasing revenues from international containers which are deployed by its customers in a wide variety of global trade routes. Substantially all of the Company's leasing related revenue is denominated in U.S. dollars.

The following table represents the geographic allocation of equipment leasing revenues for the periods indicated based on customers' primary domicile (in thousands):

	Three Months Ended   September 30,				Nine Months Ended   September 30,
	2016		2015		2016		2015
Total leasing revenues:
Asia	$	114,579	$	99,982	$	287,736	$	305,408
Europe	107,219		56,802		215,545		171,050
North America / South America	15,814		9,977		38,287		31,875
Bermuda	115		26		348		61
Other International	10,205		8,932		27,375		26,445
Total	$	247,932	$	175,719	$	569,291	$	534,839

As most of the Company's containers are used internationally, where no one container is domiciled in one particular place for a prolonged period of time, substantially all of the Company's long-lived assets are considered to be international.

The following table represents the geographic allocation of equipment trading revenues for the periods indicated based on the location of sale (in thousands):

	Three Months Ended   September 30,				Nine Months Ended   September 30,
	2016		2015		2016		2015
Total equipment trading revenues:
Asia	$	5,330	$	—	$	5,330	$	—
Europe	2,297		—		2,297		—
North America / South America	1,386		—		1,386		—
Other International	807		—		807		—
Total	$	9,820	$	—	$	9,820	$	—

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Commitments and Contingencies

9 Months Ended

Sep. 30, 2016

Commitments and Contingencies Disclosure [Abstract]

Commitments and Contingencies

Note 11—Commitments and Contingencies

Purchase Commitments

At September 30, 2016, commitments for capital expenditures totaled approximately $123.2 million.

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Income Taxes

9 Months Ended

Sep. 30, 2016

Income Tax Disclosure [Abstract]

Income Taxes

Note 12—Income Taxes

The consolidated income tax expense for the three and nine months ended September 30, 2016 and 2015, respectively, was determined primarily based upon estimates of the Company's consolidated effective income tax rates for the year ending December 31, 2016 and the year ended December 31, 2015. The difference between the consolidated effective income tax rate and the U.S. federal statutory rate is primarily attributable to state income taxes, foreign income taxes, and the effect of certain permanent tax differences. The effective tax rate change from 2015 to 2016 is directly attributable to the acquisition.

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Related Party Footnote (Notes)

9 Months Ended

Sep. 30, 2016

Related Party Transaction [Line Items]

Related Party Transactions Disclosure [Text Block]

Note 13—Related Party Transactions

Payments to Affiliate

Payments made to an affiliate for services which were mainly related to container repositioning for the periods indicated below were as follows:

International Asset Systems ("IAS") is a leader in cloud-based solutions for global logistics and transportation management in which two of our significant shareholders have an interest. IAS serves providers of global transportation, focusing on first- and last-mile landside movement for logistics service providers, motor carriers, ocean carriers, railroads and equipment lessors. On July 21, 2016, REZ-1, Inc., a leading provider of asset management, equipment reservation, billing and reload services to the domestic intermodal industry, announced its acquisition of IAS. Payments made to IAS for the periods indicated below were as follows (in thousands):

	Three Months Ended   September 30,				Nine Months Ended   September 30,
	2016		2015		2016		2015
Payments to IAS	$	13	$	408	$	149	$	715

Marine Container Services (India) Private Limited (“MCS”) is a related party, as MCS is party to a joint venture agreement with TCIL. Payments made to MCS for services related primarily to container operations for the periods indicated below were as follows (in thousands):

	Three Months Ended   September 30,				Nine Months Ended   September 30,
	2016		2015		2016		2015
Payments to MCS	$	—	$	60	$	123	$	164

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Subsequent Events

9 Months Ended

Sep. 30, 2016

Subsequent Events [Abstract]

Subsequent Events

Note 14—Subsequent Events

Quarterly Dividend

On November 9, 2016, the Company's Board of Directors approved and declared a $0.45 per share quarterly cash dividend on its issued and outstanding common shares, payable on December 22, 2016 to shareholders of record at the close of business on December 2, 2016.

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Description of the Business, Basis of Presentation and Recently Adopted Accounting Pronouncements Description of the Business, Basis of Presentation and Recently Adopted Accounting Pronouncements (Policies)

9 Months Ended

Sep. 30, 2016

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Basis of Presentation

Recently Adopted Accounting Pronouncements

New Accounting Pronouncements

In March 2016, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update No. 2016-08 ("ASU No. 2016-08"), Revenue from Contracts with Customers (Topic 606), amending previous updates regarding this topic. The effective date is interim periods beginning after December 15, 2017. Earlier application is permitted. The Company is evaluating the transition method that will be elected and the potential effects of adopting the provisions of ASU No. 2016-08.

In August 2014, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update No. 2014-15 ("ASU No. 2014-15"), Presentation of Financial Statements (Topic 205): Disclosure of Uncertainties about an Entity's Ability to Continue as a Going Concern. This standard requires management to evaluate whether there are conditions or events, considered in the aggregate, that raise substantial doubt about the entity’s ability to continue as a going concern within one year after the date that financial statements are issued and to disclose those conditions if management has concluded that substantial doubt exists. Subsequent to adoption, this guidance will need to be applied by management at the end of each annual period and interim period therein to determine what, if any, impact there will be on the Consolidated Financial Statements in a given reporting period. These changes become effective for the Company for the 2016 annual period. Management has determined that the adoption of these changes will not have an impact on the Consolidated Financial Statements as this standard is disclosure only.

In April 2015, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update No. 2015-03 ("ASU No. 2015-03"), Imputation of Interest (Topic 835): Simplifying the Presentation of Debt Issuance Costs, which was updated in August 2015 by Accounting Standards Update No. 2015-15 ("ASU No. 2015-15"), Imputation of Interest (Topic 835): Presentation and Subsequent Measurement of Debt Issuance Costs Associated with Line-of-Credit Agreements. These standards change the presentation of debt issuance costs in the financial statements but do not affect the recognition and measurement of debt issuance costs. Generally, the ASU specifies that debt issuance costs related to debt shall be reported in the balance sheet as a direct deduction from the face amount of that note and that amortization of debt issuance costs also shall be reported as interest expense. These changes became effective for the Company as of December 31, 2015. The Company adopted ASU No. 2015-15 in conjunction with ASU No. 2015-03, with no impact on its results of operations or cash flows and no material impact on its financial position.

In February 2016, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update No. 2016-02 ("ASU No. 2016-02"), Leases (Topic 842) that replaces existing lease guidance. The accounting applied by lessors under Topic 842 is largely unchanged from previous GAAP. The new lease guidance will become effective for the Company for periods beginning after December 15, 2018. The Company is currently evaluating the effect the guidance will have on the Consolidated Financial Statements, but does not expect any material impact to its Consolidated Financial Statements.

In March 2016, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update No. 2016-09 ("ASU No. 2016-09"), Compensation-Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting. The updated guidance changes how companies account for certain aspects of share-based payment awards to employees, including the accounting for income taxes, forfeitures, and statutory tax withholding requirements, as well as classification in the statement of cash flows. The update to the standard is effective for the Company for periods beginning after December 15, 2016. The Company is currently evaluating the effect the guidance will have on the Consolidated Financial Statements.

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Acquisition (Tables)

9 Months Ended

Sep. 30, 2016

Business Combinations [Abstract]

Schedule of Business Acquisitions by Acquisition, Contingent Consideration

Net assets acquired:	(in thousands)
Unrestricted cash and cash equivalents	$	50,349
Restricted cash	59,115
Accounts receivable, net	58,646
Leasing equipment	3,052,693
Net investment in finance leases	159,885
Equipment held for sale	80,655
Goodwill	261,966
Other assets	32,084
Intangible assets	302,757
Accounts payable and other accrued expenses	(47,674		)
Derivative instruments	(64,206		)
Equipment purchases payable	(10,071		)
Deferred income tax liability	(304,895		)
Debt	(3,121,118		)
Total consideration	$	510,186

Business Combination, Separately Recognized Transactions

Transaction and other costs associated with the mergers for the three and nine months ended September 30, 2016 and 2015, respectively, were as follows:

	Three Months Ended   September 30,				Nine Months Ended   September 30,
	2016		2015		2016		2015
Employee compensation costs	$	42,773	$	2,429	$	47,028	$	12,261
Professional fees	12,615		—		13,818		112
Legal expenses	1,810		—		3,290		12
Other	2,372		—		2,381		—
Total	$	59,570	$	2,429	$	66,517	$	12,385

Business Acquisition, Pro Forma Information [Table Text Block]

The unaudited pro forma financial information presented below is not necessarily indicative of either future results of operations or results that might have been achieved had the mergers occurred as of January 1, 2015.

	Nine Months Ended   September 30,
	2016		2015
Total revenues	$	815,675	$	903,035
Net income	11,646		156,503

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Fair Value of Financial Instruments (Tables)

9 Months Ended

Sep. 30, 2016

Fair Value Disclosures [Abstract]

Schedule of fair value, which was measured using Level 2 inputs, and the carrying value of the entity's debt

The fair value, which was measured using Level 2 inputs, and the carrying value of the Company's debt is listed in the table below as of the dates indicated (in thousands):

	September 30, 2016		December 31, 2015
Liabilities
Total debt(1) - carrying value	$	6,312,145	$	3,185,927
Total debt(1) - estimated fair value	$	6,409,767	$	3,256,284

______________________________________________________________________________

(1) Excludes unamortized deferred financing costs of $20.5 million and $19.0 million as of September 30, 2016 and December 31, 2015, respectively.

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Dividends (Tables)

9 Months Ended

Sep. 30, 2016

Stockholders' Equity Note [Abstract]

Schedule of quarterly dividends paid

The Company paid the following quarterly dividends during the nine months ended September 30, 2016 on its issued and outstanding common shares adjusted for the effects of the mergers:

Record Date	Payment Date	Aggregate Payment	Per Share Payment
September 8, 2016	September 22, 2016	$33.3 Million	$0.45
July 8, 2016	July 11, 2016	$18.3 Million	$0.45

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Restricted Shares, Share Options and Accumulated Other Comprehensive Income / (Loss) (Tables)

9 Months Ended

Sep. 30, 2016

Equity [Abstract]

Schedule of accumulated other comprehensive (loss)

Accumulated other comprehensive (loss) consisted of the following as of the dates indicated (in thousands and net of tax effects):

	Cash Flow Hedges			Foreign Currency Translation			Accumulated Other Comprehensive (Loss) Income
Balance as of December 31, 2015	$	—		$	(3,666	)	$	(3,666	)
Change in fair value of derivative instruments designated as cash flow hedges	574			—			574
Reclassification of realized (gain) on interest rate swap agreements designated as cash flow hedges	(184		)	—			(184		)
Foreign currency translation adjustment	—			(87		)	(87		)
Other comprehensive income (loss)	390			(87		)	303
Balance as of September 30, 2016	$	390		$	(3,753	)	$	(3,363	)

	Cash Flow Hedges		Foreign Currency Translation			Accumulated Other Comprehensive (Loss) Income
Balance as of December 31, 2014	$	—	$	(3,258	)	$	(3,258	)
Foreign currency translation adjustment	—		(368		)	(368		)
Other comprehensive (loss)	—		(368		)	(368		)
Balance as of September 30, 2015	$	—	$	(3,626	)	$	(3,626	)

Schedule of reclassifications out of accumulated other comprehensive (loss)

The following table presents reclassifications out of Accumulated other comprehensive (loss) for the period indicated (in thousands):

	Amounts Reclassified From Accumulated Other Comprehensive (Loss)										Affected Line Item in the Consolidated Statements of Income
	Three Months Ended   September 30,					Nine Months Ended   September 30,
	2016			2015		2016			2015
Amounts reclassified from Accumulated other comprehensive (loss) related to designated interest rate swaps	$	(284	)	$	—	$	(284	)	$	—	Interest and debt expense
Income tax (benefit)	100			—		100			—		Income tax expense
Amounts reclassified from Accumulated other comprehensive (loss)	$	(184	)	$	—	$	(184	)	$	—	Net income

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Net Investment in Finance Leases (Tables)

9 Months Ended

Sep. 30, 2016

Leases, Capital [Abstract]

Schedule of components of the net investment in finance leases

The following table represents the components of the net investment in finance leases (in thousands):

	September 30, 2016			December 31, 2015
Future minimum lease payment receivable	377,881			$	91,488
Estimated residuals receivable	65,899			125
Allowance on gross finance lease receivables	(527		)	(526		)
Gross finance lease receivables, net of allowance	443,253			91,087
Unearned income	(79,139		)	(22,980		)
Net investment in finance leases	$	364,114		$	68,107

Schedule of activity of allowance on gross finance lease receivables

The following table represents the activity of the Company's allowance on gross finance lease receivables for the periods presented (in thousands):

	Beginning Balance		Additions/ (Reversals)		Ending Balance
Finance Lease— Allowance for doubtful accounts:
For the nine months ended
September 30, 2016	$	526	$	1	$	527

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Debt (Tables)

9 Months Ended

Sep. 30, 2016

Debt Disclosure [Abstract]

Schedule of debt instruments

Debt consisted of the following (amounts in thousands):

	September 30, 2016			December 31, 2015
Asset backed securitization (ABS) notes	$	1,451,490		$	557,144
Term loan facilities	1,300,439			331,500
Asset backed warehouse facility	660,000			—
Revolving credit facilities	650,250			142,750
Capital lease obligations	75,367			13,676
Institutional notes	2,220,286			2,140,857
Total debt outstanding	$	6,357,832		$	3,185,927
Deferred financing costs	(20,548		)	(19,024		)
Purchase price debt adjustment	$	(45,687	)	$	—
Debt, net of unamortized deferred financing costs	$	6,291,597		$	3,166,903

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Derivative Instruments (Tables)

9 Months Ended

Sep. 30, 2016

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of interest rate swap contracts

As of September 30, 2016, the Company had interest rate swap 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 Fixed Leg (Pay) Interest Rate	Cap Rate	Weighted Average Remaining Term
Interest rate swaps	$1.6 Billion	1.73%	—%	5.0 years
Interest rate caps	$92.1 Million	—%	4.0%	1.0 year

Schedule of pre-tax amounts in accumulated other comprehensive (loss) income related to interest rate swap agreements

Schedule of fair value of derivative instruments

		Fair Value of Derivative Instruments (In Millions)
		Asset Derivatives				Liability Derivatives
		September 30, 2016		December 31, 2015		September 30, 2016		December 31, 2015
Derivative Instrument	Balance Sheet Location	Fair Value		Fair Value		Fair Value		Fair Value
Interest rate swap contracts, designated as cash flow hedges	Fair value of derivative instruments	$	—	$	—	$	58.0	$	—
Interest rate swap contracts, not designated	Fair value of derivative instruments	—		2.2		5.1		0.3
Total derivatives		$	—	$	2.2	$	63.1	$	0.3

Schedule of derivatives instruments and their effect on consolidated statements of operations and consolidated statements of comprehensive income

		Effect of Derivative Instruments on Consolidated Statements of Income and Consolidated Statements of Comprehensive Income (In Millions)
		Three Months Ended    September 30,					Nine Months Ended   September 30,
	Location of Loss (Gain) on Derivative Instruments
		2016			2015		2016			2015
Realized loss on non-designated interest rate swaps	Realized loss on derivative instruments, net	$	0.9		$	1.4	$	2.3		$	4.4
Change in fair value of derivatives, designated as cash flow hedges	Other comprehensive income	(0.9		)	—		(0.9		)	—
Realized (gain) on designated interest rate swap agreements	Interest and debt expense	(0.3		)	—		(0.3		)	—
Net (gain) loss on interest rate swaps, not designated	Unrealized (gain) loss on derivative instruments, net	$	(3.5	)	$	4.2	$	5.2		$	5.8

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Segment and Geographic Information (Tables)

9 Months Ended

Sep. 30, 2016

Segment Reporting [Abstract]

Schedule of segment information

The following tables show segment information for the periods indicated and the consolidated totals reported (in thousands):

	Three Months Ended September 30,
	2016									2015
	Equipment Leasing			Equipment Trading			Totals			Equipment Leasing			Equipment Trading		Totals
Total leasing revenues	$	247,154		$	778		$	247,932		$	175,719		$	—	$	175,719
Trading margin	—			232			232			—			—		—
Net (loss) on sale of leasing equipment	(12,319		)	—			(12,319		)	(3,254		)	—		(3,254		)
Depreciation and amortization expense	112,134			175			112,309			77,176			—		77,176
Interest and debt expense	55,124			313			55,437			35,426			—		35,426
Realized loss on derivative instruments, net	864			—			864			1,386			—		1,386
(Loss) Income before income taxes	(52,869		)	(3,979		)	(56,848		)	26,092			—		26,092

_______________________________________________________________________________

(1) Segment income before income taxes excludes unrealized gains or losses on interest rate swaps and the write-off of deferred financing costs. Unrealized gains on interest rate swaps were $3.5 million and unrealized losses on interest rate swaps of $4.2 million for the three months ended September 30, 2016 and 2015, respectively. There were no write-offs of deferred financing costs the three months ended September 30, 2016 and 2015, respectively.

	Nine Months Ended September 30,
	2016									2015
	Equipment Leasing			Equipment Trading			Totals			Equipment Leasing		Equipment Trading		Totals
Total leasing revenues	$	568,513		$	778		$	569,291		$	534,839	$	—	$	534,839
Trading margin	—			232			232			—		—		—
Net (loss) gain on sale of leasing equipment	(16,086		)	—			(16,086		)	3,071		—		3,071
Depreciation and amortization expense	272,410			175			272,585			217,296		—		217,296
Interest and debt expense	122,313			313			122,626			105,892		—		105,892
Realized loss on derivative instruments, net	2,268			—			2,268			4,399		—		4,399
(Loss) Income before income taxes	(32,967		)	(3,979		)	(36,946		)	112,853		—		112,853
Equipment held for sale at September 30	90,146			15,394			105,540			—		—		—
Goodwill at September 30	244,475			17,491			261,966			—		—		—
Total assets at September 30	8,633,818			53,845			8,687,663			4,775,329		—		4,775,329
Purchases of leasing equipment and investments in finance leases(2)	384,739			—			384,739			375,804		—		375,804

_______________________________________________________________________________

Note 10—Segment and Geographic Information (Continued)

(1) Segment income before income taxes excludes unrealized gains or losses on interest rate swaps and the write-off of deferred financing costs. Unrealized losses on interest rate swaps were $5.2 million and $5.8 million for the nine

months ended September 30, 2016 and 2015, respectively. Write-offs of deferred financing costs for the nine months ended September 30, 2016 were $0.1 million and there were no such write-offs for the nine months ended September 30, 2015.

(2) 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.

Schedule of revenues by geographic location

The following table represents the geographic allocation of equipment trading revenues for the periods indicated based on the location of sale (in thousands):

	Three Months Ended   September 30,				Nine Months Ended   September 30,
	2016		2015		2016		2015
Total equipment trading revenues:
Asia	$	5,330	$	—	$	5,330	$	—
Europe	2,297		—		2,297		—
North America / South America	1,386		—		1,386		—
Other International	807		—		807		—
Total	$	9,820	$	—	$	9,820	$	—

The following table represents the geographic allocation of equipment leasing revenues for the periods indicated based on customers' primary domicile (in thousands):

	Three Months Ended   September 30,				Nine Months Ended   September 30,
	2016		2015		2016		2015
Total leasing revenues:
Asia	$	114,579	$	99,982	$	287,736	$	305,408
Europe	107,219		56,802		215,545		171,050
North America / South America	15,814		9,977		38,287		31,875
Bermuda	115		26		348		61
Other International	10,205		8,932		27,375		26,445
Total	$	247,932	$	175,719	$	569,291	$	534,839

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Related Party Footnote (Tables)

9 Months Ended

Sep. 30, 2016

Related Party Transaction [Line Items]

Schedule of Related Party Transactions [Table Text Block]

Payments made to IAS for the periods indicated below were as follows (in thousands):

	Three Months Ended   September 30,				Nine Months Ended   September 30,
	2016		2015		2016		2015
Payments to IAS	$	13	$	408	$	149	$	715

Marine Container Services (India) Private Limited (“MCS”) is a related party, as MCS is party to a joint venture agreement with TCIL. Payments made to MCS for services related primarily to container operations for the periods indicated below were as follows (in thousands):

	Three Months Ended   September 30,				Nine Months Ended   September 30,
	2016		2015		2016		2015
Payments to MCS	$	—	$	60	$	123	$	164

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Description of the Business, Basis of Presentation and Recently Adopted Accounting Pronouncements Description of the Business, Basis of Presentation and Recently Adopted Accounting Pronouncements - Hanjin Bankruptcy (Details) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2016 USD ($)	Sep. 30, 2015 USD ($)	Sep. 30, 2016 USD ($)	Sep. 30, 2015 USD ($)	Aug. 31, 2016 USD ($)
Loss Contingencies [Line Items]
Bad debt expense	$ 22,372	$ 11	$ 22,201	$ (2,121)
Hanjin Shipping Co.
Loss Contingencies [Line Items]
Number of units leased					87,000
Net book value of leased property					$ 243,300
Estimated total loss from bankruptcy	600
Bad debt expense	23,400
Loss on deferred revenue	6,300
Insurance deductible expense	$ 6,500

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Common Shares Common Shares (Details) - $ / shares	Sep. 30, 2016	Dec. 31, 2015
Designated Common Stock
Class of Stock [Line Items]
Common stock, shares authorized (in shares)	294,000,000	0
Common stock, par value (in dollars per share)	$ 0.01	$ 0
Undesignated Common Stock
Class of Stock [Line Items]
Common stock, shares authorized (in shares)	6,000,000	0
Common stock, par value (in dollars per share)	$ 0.01	$ 0

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Acquisition (Details) - USD ($) $ in Thousands, shares in Millions	3 Months Ended			9 Months Ended
	Sep. 30, 2016	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015	Jul. 12, 2016	Dec. 31, 2015
Business Acquisition [Line Items]
Transaction and other costs		$ 59,570	$ 2,429	$ 66,517	$ 12,385
Net Income (Loss) Available to Common Stockholders, Basic		(51,211)	21,158	(36,296)	98,269
Business Acquisition, Pro Forma Revenue				815,675	903,035
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Cash and Equivalents						$ 50,349
Business Acquisition, Percentage of Voting Interests Acquired						55.00%
trtn_BusinessAcquisitionCommonStockShareReceivedRatio						79.86555%
Business Combination, Contingent Consideration, Asset						$ 510,186
Operating and Capital Leases Income Statement Lease Revenue		247,932	175,719	569,291	534,839
trtn_BusinessCombinationsRestrictedCashandCashEquivalents						59,115
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Assets, Receivables						58,646
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Equipment						3,052,693
trtn_BusinessCombinationCapitalLeasesNetInvestmentinDirectFinancingLeases						159,885
trtn_BusinessCombinationAssetsHeldforsaleNotPartofDisposal						80,655
Goodwill	$ 261,966	261,966	0	261,966	0	261,966	$ 0
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Assets, Other						32,084
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill						302,757
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Liabilities, Accounts Payable						(47,674)
trtn_BusinessCombinationDerivativeInstruments						(64,206)
trtn_BusinessCombinationRecognizedIdentifiableAssetsAcquiredandLiabilitiesAssumedLiabilitiesEquipmentPayable						(10,071)
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Deferred Tax Liabilities Noncurrent						(304,895)
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Noncurrent Liabilities, Long-term Debt						$ (3,121,118)
Business Acquisition, Pro Forma Net Income (Loss)				11,646	156,503
Employee Compensation Costs [Member]
Business Acquisition [Line Items]
Transaction and other costs		42,773	2,429	47,028	12,261
Professional Fees Expense
Business Acquisition [Line Items]
Transaction and other costs		12,615	0	13,818	112
Legal Expense
Business Acquisition [Line Items]
Transaction and other costs		1,810	0	3,290	12
Other Expense
Business Acquisition [Line Items]
Transaction and other costs		2,372	$ 0	2,381	$ 0
TCIL [Member]
Business Acquisition [Line Items]
Business Acquisition, Percentage of Voting Interests Acquired						55.00%
TAL
Business Acquisition [Line Items]
Net Income (Loss) Available to Common Stockholders, Basic	(22,589)
Business Acquisition, Percentage of Voting Interests Acquired						45.00%
Entity Common Stock, Shares Outstanding						33.4
Operating and Capital Leases Income Statement Lease Revenue	94,552
Accounts Payable and Accrued Liabilities
Business Acquisition [Line Items]
Business Combination, Acquisition Related Costs	$ 56,700	$ 56,700		$ 56,700

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Fair Value of Financial Instruments (Details) - USD ($) $ in Thousands	Sep. 30, 2016	Dec. 31, 2015
Fair Value
Deferred financing costs	$ (20,548)	$ (19,024)
Capital Leases, Net Investment in Direct Financing and Sales Type Leases	364,114	68,107
Carrying Value
Liabilities
Total Debt	6,312,145	3,185,927
Estimate of Fair Value | Level 2
Liabilities
Total Debt	$ 6,409,767	$ 3,256,284

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Dividends (Details) - USD ($) $ / shares in Units, $ in Thousands			3 Months Ended		9 Months Ended
	Sep. 22, 2016	Jul. 11, 2016	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Aggregate dividend payment	$ 33,250	$ 18,316			$ 51,620	$ 0
Per share dividend payment (in dollars per share)	$ 0.45	$ 0.45	$ 0.90	$ 0.00	$ 0.90	$ 0.00

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Restricted Shares, Share Options and Accumulated Other Comprehensive Income / (Loss) (Narrative) (Details) - USD ($) $ / shares in Units, $ in Thousands						1 Months Ended	3 Months Ended	9 Months Ended
	Sep. 07, 2016	Jul. 12, 2016	Jul. 08, 2016	May 19, 2016	Nov. 09, 2015	Jan. 31, 2016	Sep. 30, 2016	Sep. 30, 2016	Sep. 30, 2015
Stock based compensation plans
trtn_BusinessAcquisitionCommonStockShareReceivedRatio		79.86555%
Shares repurchased (in shares)				30,700
Share repurchase price (in dollars per share)				$ 12.26
Share-based Compensation								$ 4,334	$ 9,546
2016 Triton Plan
Stock based compensation plans
Total unrecognized compensation cost							$ 6,800	$ 6,800
Weighted-average vesting period over which unrecognized compensation is expected to be recognized								2 years 11 months
Class A common shares, $0.01 par value; 294,000,000 shares authorized, 44,535,732 issued and outstanding at December 31, 2015 | Option Plan
Stock based compensation plans
Common shares granted from exchange of options (in shares)			647,000		865,157
Common shares redeemed (in shares)			291,000		371,000
Common share price (in dollars per share)			$ 10.94		$ 14.51
Vesting period			30 months
Restricted common shares converted to unrestricted shares		114,000
Common Stock | TAL
Stock based compensation plans
Vesting period						2 years 3 months
Restricted Stock
Stock based compensation plans
Antidilutive restricted shares (in shares)							538,000	538,000
Restricted Stock | Class A common shares, $0.01 par value; 294,000,000 shares authorized, 44,535,732 issued and outstanding at December 31, 2015 | Option Plan
Stock based compensation plans
Common shares granted (in shares)			143,000
Restricted Stock | Class A common shares, $0.01 par value; 294,000,000 shares authorized, 44,535,732 issued and outstanding at December 31, 2015 | TAL
Stock based compensation plans
Common shares granted (in shares)						140,000
Unearned compensation expense						$ 1,400
Employees, Non-Directors | Restricted Stock | Common Stock | 2016 Triton Plan
Stock based compensation plans
Common share price (in dollars per share)	$ 14.55
Common shares granted (in shares)	418,000
Vesting period	3 years
Directors | Restricted Stock | Common Stock | 2016 Triton Plan
Stock based compensation plans
Common shares granted (in shares)	47,000

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Restricted Shares, Share Options and Accumulated Other Comprehensive Income / (Loss) (Details 2) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Balance at the beginning of the period			$ (3,666)
Change in fair value of derivative instruments designated as cash flow hedges	$ 574	$ 0	574	$ 0
Reclassification of realized (gain) on interest rate swap agreements designated as cash flow hedges	(184)	0	(184)	0
Foreign currency translation adjustment	57	(142)	(87)	(368)
Other comprehensive income (loss), net of tax	447	(142)	303	(368)
Balance at the end of the period	(3,363)		(3,363)
Cash Flow Hedges
Balance at the beginning of the period			0	0
Change in fair value of derivative instruments designated as cash flow hedges			574
Reclassification of realized (gain) on interest rate swap agreements designated as cash flow hedges			(184)
Foreign currency translation adjustment			0	0
Other comprehensive income (loss), net of tax			390	0
Balance at the end of the period	390	0	390	0
Foreign Currency Translation
Balance at the beginning of the period			(3,666)	(3,258)
Change in fair value of derivative instruments designated as cash flow hedges			0
Reclassification of realized (gain) on interest rate swap agreements designated as cash flow hedges			0
Foreign currency translation adjustment			(87)	(368)
Other comprehensive income (loss), net of tax			(87)	(368)
Balance at the end of the period	(3,753)	(3,626)	(3,753)	(3,626)
Accumulated Other Comprehensive Income (Loss)
Balance at the beginning of the period			(3,666)	(3,258)
Change in fair value of derivative instruments designated as cash flow hedges			574
Reclassification of realized (gain) on interest rate swap agreements designated as cash flow hedges			(184)
Foreign currency translation adjustment			(87)	(368)
Other comprehensive income (loss), net of tax			303	(368)
Balance at the end of the period	$ (3,363)	$ (3,626)	$ (3,363)	$ (3,626)

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Restricted Shares, Share Options and Accumulated Other Comprehensive Income / (Loss) (Details 3) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Amounts Reclassified from AOCI
Share-based Compensation			$ 4,334	$ 9,546
Realized loss on interest rate swap agreements, designated as cash flow hedges	$ 55,437	$ 35,426	122,626	105,892
Amounts reclassified from Accumulated other comprehensive (loss) related to designated interest rate swaps	49,129	(25,980)	31,410	(109,797)
Income tax (benefit)	(7,719)	112	(5,536)	3,056
Amounts reclassified from Accumulated other comprehensive (loss)	51,211	(21,158)	36,296	(98,269)
Cash Flow Hedges | Amounts Reclassified From Accumulated Other Comprehensive Income
Amounts Reclassified from AOCI
Amounts reclassified from Accumulated other comprehensive (loss) related to designated interest rate swaps	(284)	0	(284)	0
Income tax (benefit)	100	0	100	0
Amounts reclassified from Accumulated other comprehensive (loss)	$ (184)	$ 0	$ (184)	$ 0
Restricted Stock
Amounts Reclassified from AOCI
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	538,000		538,000

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Net Investment in Finance Leases (Details) - USD ($) $ in Thousands	Sep. 30, 2016	Dec. 31, 2015
Components of the net investment in finance leases
Future minimum lease payment receivable	$ 377,881	$ 91,488
Estimated residuals receivable	65,899	125
Allowance on gross finance lease receivables	(527)	(526)
Gross finance lease receivables, net of allowance	443,253	91,087
Unearned income	(79,139)	(22,980)
Net investment in finance leases	$ 364,114	$ 68,107

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Net Investment in Finance Leases (Details 2) - USD ($) $ in Thousands	Sep. 30, 2016	Dec. 31, 2015
Leases, Capital [Abstract]
Future minimum lease payment receivable	$ 377,881	$ 91,488

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Net Investment in Finance Leases (Details 3) - Finance Lease - Allowance for doubtful accounts $ in Thousands	9 Months Ended
	Sep. 30, 2016 USD ($)
Changes in valuation and qualifying accounts
Beginning Balance	$ 526
Additions/ (Reversals)	1
Ending Balance	$ 527

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Debt (Details) - USD ($) $ in Thousands	Apr. 08, 2016	Apr. 07, 2016	Sep. 30, 2016	Aug. 31, 2016	Jun. 01, 2016	May 23, 2016	Apr. 15, 2016	Apr. 14, 2016	Dec. 31, 2015
Debt
DebtAndCapitalLeaseObligationsOutstandingBeforeDeferredFinancingCostandPurchaseAccounting			$ 6,357,832						$ 3,185,927
Deferred financing costs			(20,548)						(19,024)
Adjustment to Purchase Price of Debt			(45,687)						0
Debt and Capital Lease Obligations, net of deferred financing costs			6,291,597						3,166,903
Debt outstanding on facilities with fixed interest rates			3,300,000
Debt outstanding on facilities with interest rates based on floating rate indices			3,100,000
Interest Rate Swap
Debt
Net notional amount			1,625,000
Loans Payable | TCF-III Series 2009-1 Notes
Debt
Debt principal amount	$ 316,700
Interest rate margin added to one month LIBOR or commercial paper rate	200.00%	1.60%
Asset backed securitization (ABS) notes
Debt
Total Debt			1,451,490						557,144
Term loan facilities
Debt
Total Debt			1,300,439						331,500
Asset backed warehouse facility
Debt
Total Debt			660,000						0
Revolving credit facilities
Debt
Total Debt			650,250						142,750
Line of credit, aggregate commitment							$ 600,000
Revolving credit facilities | TCIL Credit Facility
Debt
Line of credit, aggregate commitment				$ 600,000		$ 555,000	300,000	$ 600,000
Line of credit, additional commitment provided by accordion feature							$ 300,000
Capital lease obligations
Debt
Total Debt			75,367						13,676
Institutional Notes [Domain]
Debt
Total Debt			2,220,286						2,140,857
Carrying Value
Debt
Total Debt			$ 6,312,145						$ 3,185,927
Interest Rate Swap
Debt
Interest rate swap notional amount					$ 229,100
Minimum | Interest Rate Swap
Debt
Derivative fixed interest rate					1.11%
Maximum | Interest Rate Swap
Debt
Derivative fixed interest rate					1.12%

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Derivative Instruments (Details) $ in Millions	9 Months Ended
	Sep. 30, 2016 USD ($)
Interest Rate Swap
Derivative Instruments
Net notional amount	$ 1,625.0
Weighted average fixed leg (Pay) interest rate (as a percent)	1.73%
Derivative, Cap Interest Rate	0.00%
Weighted Average Remaining Term	5 years
Interest Rate Cap
Derivative Instruments
Net notional amount	$ 92.1
Weighted average fixed leg (Pay) interest rate (as a percent)	0.00%
Derivative, Cap Interest Rate	4.00%
Weighted Average Remaining Term	1 year

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Derivative Instruments (Details 2) - USD ($) $ in Thousands	Sep. 30, 2016	Dec. 31, 2015
Fair Value of Derivative Instruments
Fair value of derivative instruments (assets)	$ 0	$ 2,200
Fair value of derivative instruments (liabilities)	63,137	257
Interest Rate Swap | Derivatives designated as hedging instruments
Fair Value of Derivative Instruments
Fair value of derivative instruments (assets)	0	0
Fair value of derivative instruments (liabilities)	58,000	0
Interest Rate Swap | Derivatives not designated as hedging instruments
Fair Value of Derivative Instruments
Fair value of derivative instruments (assets)	0	2,200
Fair value of derivative instruments (liabilities)	$ 5,100	$ 300

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Derivative Instruments (Details 3) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Effect of Derivative Instruments on Consolidated Statements of Income and Consolidated Statements of Comprehensive Income
Derivative Instruments Not Designated as Hedging Instruments, Gain (Loss), Net	$ (864)	$ (1,386)	$ (2,268)	$ (4,399)
Net (gain) loss on interest rate swaps, not designated	(3,487)	4,159	5,243	5,833
Interest Rate Swap | Derivatives designated as hedging instruments | Other comprehensive income
Effect of Derivative Instruments on Consolidated Statements of Income and Consolidated Statements of Comprehensive Income
Change in fair value of derivatives, designated as cash flow hedges	(900)	0	(900)	0
Interest and Debt Expense | Interest Rate Swap | Derivatives designated as hedging instruments
Effect of Derivative Instruments on Consolidated Statements of Income and Consolidated Statements of Comprehensive Income
Derivative Instruments Not Designated as Hedging Instruments, Gain (Loss), Net	$ (300)	$ 0	$ (300)	$ 0

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Segment and Geographic Information (Details) $ in Thousands		3 Months Ended		9 Months Ended
		Sep. 30, 2016 USD ($)	Sep. 30, 2015 USD ($)	Sep. 30, 2016 USD ($) industry segment	Sep. 30, 2015 USD ($)	Jul. 12, 2016 USD ($)	Dec. 31, 2015 USD ($)
Industry Segment Information
Number of industries | industry				1
Number of reportable segments | segment				2
Total leasing revenues		$ 247,932	$ 175,719	$ 569,291	$ 534,839
Trading margin		232	0	232	0
Net (loss) gain on sale of leasing equipment		(12,319)	(3,254)	(16,086)	3,071
Depreciation and amortization expense		112,309	77,176	272,585	217,296
Interest and debt expense		55,437	35,426	122,626	105,892
Derivative Instruments Not Designated as Hedging Instruments, Gain (Loss), Net		(864)	(1,386)	(2,268)	(4,399)
Equipment held for sale		105,540	0	105,540	0		$ 0
Goodwill at the end of the period		261,966	0	261,966	0	$ 261,966	0
Total assets at the end of the period		8,687,663	4,775,329	8,687,663	4,775,329		$ 4,658,997
Purchases of leasing equipment and investments in finance leases	[1]			384,739	375,804
Unrealized (gain) loss on derivative instruments, net		(3,487)	4,159	5,243	5,833
Write-off of deferred financing costs		0	0	141	0
Costs and Expenses		239,522	104,668	460,737	308,464
Equipment Leasing
Industry Segment Information
Total leasing revenues		247,154	175,719	568,513	534,839
Trading margin		0	0	0	0
Depreciation and amortization expense		112,134	77,176	272,410	217,296
Interest and debt expense		55,124	35,426	122,313	105,892
Derivative Instruments Not Designated as Hedging Instruments, Gain (Loss), Net		864	1,386	2,268	4,399
Income before income taxes	[2]	(52,869)	26,092	(32,967)	112,853
Equipment held for sale		90,146	0	90,146	0
Goodwill at the end of the period		244,475	0	244,475	0
Total assets at the end of the period		8,633,818	4,775,329	8,633,818	4,775,329
Purchases of leasing equipment and investments in finance leases	[1]			384,739	375,804
Equipment Trading
Industry Segment Information
Total leasing revenues		778	0	778	0
Net (loss) gain on sale of leasing equipment		0	0	0	0
Depreciation and amortization expense		175	0	175	0
Interest and debt expense		313	0	313	0
Derivative Instruments Not Designated as Hedging Instruments, Gain (Loss), Net		0	0	0	0
Income before income taxes	[2]	(3,979)	0	(3,979)	0
Equipment held for sale		15,394	0	15,394	0
Goodwill at the end of the period		17,491	0	17,491	0
Total assets at the end of the period		53,845	0	53,845	0
Purchases of leasing equipment and investments in finance leases	[1]			0	0
Intersegment Eliminations
Industry Segment Information
Revenues		0	0	0	0
Costs and Expenses		$ 0	$ 0	$ 0	$ 0

[1] 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.

[2] (1)Segment income before income taxes excludes unrealized gains or losses on interest rate swaps and the write-off of deferred financing costs. Unrealized losses on interest rate swaps were $5.2 million and $5.8 million for the nine months ended September 30, 2016 and 2015, respectively. Write-offs of deferred financing costs for the nine months ended September 30, 2016 were $0.1 million and there were no such write-offs for the nine months ended September 30, 2015.

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Segment and Geographic Information (Details 2) - USD ($) $ in Thousands		3 Months Ended		9 Months Ended
		Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Geographic Segment Information
Write off of Deferred Debt Issuance Cost		$ 0	$ 0	$ 141	$ 0
Unrealized (gain) loss on derivative instruments, net		(3,487)	4,159	5,243	5,833
Total leasing revenues		247,932	175,719	569,291	534,839
Equipment trading revenues		9,820	0	9,820	0
Gross Profit		232	0	232	0
Gain (Loss) on Sale of Leased Assets, Net, Operating Leases		(12,319)	(3,254)	(16,086)	3,071
Depreciation and amortization expense		112,309	77,176	272,585	217,296
Interest and debt expense		55,437	35,426	122,626	105,892
Derivative Instruments Not Designated as Hedging Instruments, Gain (Loss), Net		(864)	(1,386)	(2,268)	(4,399)
Income (Loss) from Continuing Operations before Equity Method Investments, Income Taxes, Extraordinary Items, Noncontrolling Interest		(56,848)	26,092	(36,946)	112,853
Asia
Geographic Segment Information
Total leasing revenues		114,579	99,982	287,736	305,408
Equipment trading revenues		5,330	0	5,330	0
Europe
Geographic Segment Information
Total leasing revenues		107,219	56,802	215,545	171,050
Equipment trading revenues		2,297	0	2,297	0
Americas [Member]
Geographic Segment Information
Total leasing revenues		15,814	9,977	38,287	31,875
Equipment trading revenues		1,386	0	1,386	0
BERMUDA
Geographic Segment Information
Total leasing revenues		115	26	348	61
Other international
Geographic Segment Information
Total leasing revenues		10,205	8,932	27,375	26,445
Equipment trading revenues		807	0	807	0
Equipment Leasing
Geographic Segment Information
Total leasing revenues		247,154	175,719	568,513	534,839
Gross Profit		0	0	0	0
Depreciation and amortization expense		112,134	77,176	272,410	217,296
Interest and debt expense		55,124	35,426	122,313	105,892
Derivative Instruments Not Designated as Hedging Instruments, Gain (Loss), Net		864	1,386	2,268	4,399
Segment Reporting Income (Loss) before Taxes	[1]	(52,869)	26,092	(32,967)	112,853
Equipment Trading
Geographic Segment Information
Total leasing revenues		778	0	778	0
Gain (Loss) on Sale of Leased Assets, Net, Operating Leases		0	0	0	0
Depreciation and amortization expense		175	0	175	0
Interest and debt expense		313	0	313	0
Derivative Instruments Not Designated as Hedging Instruments, Gain (Loss), Net		0	0	0	0
Segment Reporting Income (Loss) before Taxes	[1]	$ (3,979)	$ 0	$ (3,979)	$ 0

[1] (1)Segment income before income taxes excludes unrealized gains or losses on interest rate swaps and the write-off of deferred financing costs. Unrealized losses on interest rate swaps were $5.2 million and $5.8 million for the nine months ended September 30, 2016 and 2015, respectively. Write-offs of deferred financing costs for the nine months ended September 30, 2016 were $0.1 million and there were no such write-offs for the nine months ended September 30, 2015.

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Commitments and Contingencies (Details) $ in Millions	Sep. 30, 2016 USD ($)
Commitments and Contingencies Disclosure [Abstract]
Purchase commitment payable in 2016	$ 123.2

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Related Party Footnote (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
MCS
Related Party Transaction [Line Items]
Related Party Transaction, Purchases from Related Party	$ 0	$ 60	$ 123	$ 164
IAS
Related Party Transaction [Line Items]
Related Party Transaction, Purchases from Related Party	$ 13	$ 408	$ 149	$ 715

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Subsequent Events (Details)	Dec. 22, 2016 $ / shares
Subsequent Event [Member]
Subsequent Event [Line Items]
Dividend approved and declared (in dollars per share)	$ 0.45