Revolving Credit Facility, Term Loans and Capital Lease Obligations	6 Months Ended
Jun. 30, 2011
Debt Disclosure [Abstract]
Revolving Credit Facility, Term Loans and Capital Lease Obligations	(6) Revolving Credit Facility, Term Loans and Capital Lease Obligations (a) Revolving Credit Facility The Company has a revolving line of credit agreement with a consortium of banks to finance the acquisition of assets and for general working capital purposes. This agreement was amended on May 27, 2008, August 20, 2010 and June 27, 2011. As of June 30, 2011, the maximum credit commitment under the revolving line of credit was $330.0 million. The Company's revolving credit facility may be increased under certain conditions described in the agreement governing the facility. In addition, there is a commitment fee on the unused amount of the total commitment, payable quarterly in arrears. The agreement provides that swing line loans (short-term borrowings of up to $10.0 million in the aggregate that are payable within 10 business days or at maturity date, whichever comes earlier) and standby letters of credit (up to $15.0 million in the aggregate) will be available to the Company. These credit commitments are part of, and not in addition to, the total commitment provided under the agreement. The interest rates vary depending upon whether the loans are characterized as Base Rate loans or Eurodollar rate loans, as defined in the revolving credit facility. As of June 30, 2011, the interest rate under the amended agreement was approximately 2.5%. The agreement governing the Company's revolving credit facility also contains various financial and other covenants. It also includes certain restrictions on the Company's ability to incur other indebtedness or pay dividends to stockholders. As of June 30, 2011, the Company was in compliance with the terms of the revolving credit facility. On June 27, 2011, the Company entered into an agreement with the banks to amend its revolving credit facility to provide it with greater flexibility in regards to its capital structure. The amendments include revising certain financial covenants, reducing the borrowing base and adding the ability for the Company to form subsidiary entities that will be structured in a manner which will provide the Company with the ability to access public debt markets through the use of asset-backed securities that are collateralized by the Company's assets. As of June 30, 2011, the outstanding balance under the Company's revolving credit facility was $256.6 million. As of June 30, 2011, the Company had $73.3 million in availability under the revolving credit facility (net of $0.1 million in letters of credit) subject to the Company's ability to meet the collateral requirements under the agreement governing the facility. The entire amount of the facility drawn at any time plus accrued interest and fees is callable on demand in the event of certain specified events of default. The agreement under the Company's revolving credit facility will terminate on September 25, 2014. On July 15, 2011, the Company drew down an additional $95.0 million under the existing terms of its term loan facility (see paragraph (b)(i) below). The Company used these proceeds to reduce the outstanding balance under its revolving credit facility. The Company's revolving credit facility, including any amounts drawn on the facility, is secured by substantially all of the assets of the Company (not otherwise used as security for its other credit facilities) including the containers owned by the Company, the underlying leases thereon and the Company's interest in any money received under such contracts. (b) Term Loans Term loans consist of the following: (i) Bank Term Loan. On December 20, 2010, the Company entered into a Term Loan Agreement with a consortium of banks. Under this loan agreement, the Company was initially eligible to borrow up to $300.0 million, subject to certain borrowing conditions, which amount is secured by certain assets of the Company's wholly owned foreign subsidiaries. The Company initially borrowed $185.0 million under the agreement and had until September 2011 to utilize the remaining $115.0 million of the loan facility. The loan agreement is an amortizing facility with a term of six years, with quarterly payments of principal of $6.0 million each (i.e. 2.0% of the aggregate commitment). Any unpaid principal will be due on December 20, 2016. The applicable interest rate is equal to LIBOR plus 3.0% per annum for Eurodollar loans, and Base Rate plus 2.0% for base rate loans. The Base Rate is defined as the highest of (i) the federal funds rate plus 1/2 of 1.0%, (ii) the prime rate (as published in The Wall Street Journal), and (iii) the Eurodollar rate (for three-month loans) plus 1.0%. The proceeds from the initial borrowing were used to pay part of the Company's revolving credit facility. On March 11, 2011 the Company entered into an Amendment to the Term Loan Agreement that reduced the quarterly payments of principal for the $185.0 million initially borrowed to $3.7 million each (i.e. 2.0% of the drawn amount) for the first 23 quarterly payment dates with a final payment of $99.9 million (54.0% of the drawn amount) due on December 20, 2016. The Company is entitled to draw down the remaining $115.0 million commitment in up to three additional drawdowns through September 2011. The quarterly payments of principal on these drawdowns (each determined separately) will be determined for each Principal Payment Date (other than the Maturity Date), as an amount equal to the product of (x) the quotient obtained by dividing 46.0% by the number of remaining scheduled Principal Payment Dates, as of the Drawdown Date of such Term Loan and (y) the initial Principal Balance of such Term Loan, with a final payment due on December 20, 2016 of 54.0% of the initial Principal Balance of such Term Loan. As of June 30, 2011, the loan had a balance of $177.6 million and interest rate of 3.2%. The loan agreement contains various financial and other covenants. As of June 30, 2011, the Company was in compliance with all the covenants under the loan agreement. On July 15, 2011, the Company drew down an additional $95.0 million under the existing terms of its term loan facility, and used these proceeds to reduce the outstanding balance under its revolving credit facility. The Company's term loan with a consortium of banks, related party term loan and capital lease obligations are secured by a specific pool of containers owned by the Company, the underlying leases thereon and the Company's interest in any money received under such contracts. (ii) Related Party Term Loan. On August 20, 2009, the Company signed a $10.0 million five-year loan agreement with the Development Bank of Japan (DBJ). As of the date of closing of the loan agreement, DBJ owned approximately 9.4% of the Company's outstanding common stock. The loan is payable in 19 quarterly installments of $0.2 million starting October 31, 2009 and a final payment of $6.2 million on July 31, 2014. The loan bears a variable interest rate based on BBA LIBOR and is secured by container rental equipment owned by the Company. The loan had a balance of $8.6 million and an interest rate of 2.7% as of June 30, 2011. The agreement governing the Company's term loan contains various financial and other covenants. As of June 30, 2011, the Company was in compliance with all the covenants under the loan agreement. In December 2010, DBJ sold 753,000 shares of the Company's stock, thereby reducing its equity interest to 4.9% of the Company's total outstanding shares of common stock as of June 30, 2011. (c) Capital Lease Obligations As of June 30, 2011, the Company had capital lease obligations of $13.3 million. The underlying obligations are denominated in U.S. Dollars and Euros at floating interest rates averaging 3.2% as of June 30, 2011 and with maturity dates between April 2012 and March 2020. The liability under each lease is secured by the underlying leased equipment.

(6) Revolving Credit Facility, Term Loans and Capital Lease Obligations

(a) Revolving Credit Facility

The Company has a revolving line of credit agreement with a consortium of banks to finance the acquisition of assets and for general working capital purposes. This agreement was amended on May 27, 2008, August 20, 2010 and June 27, 2011. As of June 30, 2011, the maximum credit commitment under the revolving line of credit was $330.0 million.

The Company's revolving credit facility may be increased under certain conditions described in the agreement governing the facility. In addition, there is a commitment fee on the unused amount of the total commitment, payable quarterly in arrears. The agreement provides that swing line loans (short-term borrowings of up to $10.0 million in the aggregate that are payable within 10 business days or at maturity date, whichever comes earlier) and standby letters of credit (up to $15.0 million in the aggregate) will be available to the Company. These credit commitments are part of, and not in addition to, the total commitment provided under the agreement. The interest rates vary depending upon whether the loans are characterized as Base Rate loans or Eurodollar rate loans, as defined in the revolving credit facility. As of June 30, 2011, the interest rate under the amended agreement was approximately 2.5%. The agreement governing the Company's revolving credit facility also contains various financial and other covenants. It also includes certain restrictions on the Company's ability to incur other indebtedness or pay dividends to stockholders. As of June 30, 2011, the Company was in compliance with the terms of the revolving credit facility.

On June 27, 2011, the Company entered into an agreement with the banks to amend its revolving credit facility to provide it with greater flexibility in regards to its capital structure. The amendments include revising certain financial covenants, reducing the borrowing base and adding the ability for the Company to form subsidiary entities that will be structured in a manner which will provide the Company with the ability to access public debt markets through the use of asset-backed securities that are collateralized by the Company's assets.

As of June 30, 2011, the outstanding balance under the Company's revolving credit facility was $256.6 million. As of June 30, 2011, the Company had $73.3 million in availability under the revolving credit facility (net of $0.1 million in letters of credit) subject to the Company's ability to meet the collateral requirements under the agreement governing the facility. The entire amount of the facility drawn at any time plus accrued interest and fees is callable on demand in the event of certain specified events of default. The agreement under the Company's revolving credit facility will terminate on September 25, 2014.

On July 15, 2011, the Company drew down an additional $95.0 million under the existing terms of its term loan facility (see paragraph (b)(i) below). The Company used these proceeds to reduce the outstanding balance under its revolving credit facility.

The Company's revolving credit facility, including any amounts drawn on the facility, is secured by substantially all of the assets of the Company (not otherwise used as security for its other credit facilities) including the containers owned by the Company, the underlying leases thereon and the Company's interest in any money received under such contracts.

(b) Term Loans

Term loans consist of the following:

(i) Bank Term Loan. On December 20, 2010, the Company entered into a Term Loan Agreement with a consortium of banks. Under this loan agreement, the Company was initially eligible to borrow up to $300.0 million, subject to certain borrowing conditions, which amount is secured by certain assets of the Company's wholly owned foreign subsidiaries. The Company initially borrowed $185.0 million under the agreement and had until September 2011 to utilize the remaining $115.0 million of the loan facility. The loan agreement is an amortizing facility with a term of six years, with quarterly payments of principal of $6.0 million each (i.e. 2.0% of the aggregate commitment). Any unpaid principal will be due on December 20, 2016. The applicable interest rate is equal to LIBOR plus 3.0% per annum for Eurodollar loans, and Base Rate plus 2.0% for base rate loans. The Base Rate is defined as the highest of (i) the federal funds rate plus 1/2 of 1.0%, (ii) the prime rate (as published in The Wall Street Journal), and (iii) the Eurodollar rate (for three-month loans) plus 1.0%. The proceeds from the initial borrowing were used to pay part of the Company's revolving credit facility.

On March 11, 2011 the Company entered into an Amendment to the Term Loan Agreement that reduced the quarterly payments of principal for the $185.0 million initially borrowed to $3.7 million each (i.e. 2.0% of the drawn amount) for the first 23 quarterly payment dates with a final payment of $99.9 million (54.0% of the drawn amount) due on December 20, 2016. The Company is entitled to draw down the remaining $115.0 million commitment in up to three additional drawdowns through September 2011. The quarterly payments of principal on these drawdowns (each determined separately) will be determined for each Principal Payment Date (other than the Maturity Date), as an amount equal to the product of (x) the quotient obtained by dividing 46.0% by the number of remaining scheduled Principal Payment Dates, as of the Drawdown Date of such Term Loan and (y) the initial Principal Balance of such Term Loan, with a final payment due on December 20, 2016 of 54.0% of the initial Principal Balance of such Term Loan. As of June 30, 2011, the loan had a balance of $177.6 million and interest rate of 3.2%. The loan agreement contains various financial and other covenants. As of June 30, 2011, the Company was in compliance with all the covenants under the loan agreement.

On July 15, 2011, the Company drew down an additional $95.0 million under the existing terms of its term loan facility, and used these proceeds to reduce the outstanding balance under its revolving credit facility.

The Company's term loan with a consortium of banks, related party term loan and capital lease obligations are secured by a specific pool of containers owned by the Company, the underlying leases thereon and the Company's interest in any money received under such contracts.

(ii) Related Party Term Loan. On August 20, 2009, the Company signed a $10.0 million five-year loan agreement with the Development Bank of Japan (DBJ). As of the date of closing of the loan agreement, DBJ owned approximately 9.4% of the Company's outstanding common stock. The loan is payable in 19 quarterly installments of $0.2 million starting October 31, 2009 and a final payment of $6.2 million on July 31, 2014. The loan bears a variable interest rate based on BBA LIBOR and is secured by container rental equipment owned by the Company. The loan had a balance of $8.6 million and an interest rate of 2.7% as of June 30, 2011. The agreement governing the Company's term loan contains various financial and other covenants. As of June 30, 2011, the Company was in compliance with all the covenants under the loan agreement. In December 2010, DBJ sold 753,000 shares of the Company's stock, thereby reducing its equity interest to 4.9% of the Company's total outstanding shares of common stock as of June 30, 2011.

As of June 30, 2011, the Company had capital lease obligations of $13.3 million. The underlying obligations are denominated in U.S. Dollars and Euros at floating interest rates averaging 3.2% as of June 30, 2011 and with maturity dates between April 2012 and March 2020. The liability under each lease is secured by the underlying leased equipment.