Segment And Geographic Information

12 Months Ended

Dec. 31, 2017

Segment And Geographic Information [Abstract]

Segment And Geographic Information

(17)Segment and Geographic Information

The Company organizes itself by the nature of the services it provides which includes equipment leasing (consisting of container leasing and rail leasing) and logistics.

The container leasing segment is aggregated with equipment management and derives its revenue from the ownership and leasing of containers and fees earned for managing container portfolios on behalf of third party investors. The rail leasing segment derives its revenue from the ownership and leasing of railcars. The logistics segment derives its revenue from the provision of logistics services. There are no inter-segment revenues.

With the exception of administrative expenses, operating expenses are directly attributable to each segment. Administrative expenses that are not directly attributable to a segment are allocated to container or rail leasing based on the net book value of equipment in each segment.

The following tables show condensed segment information for the years ended December 31, 2017, 2016 and 2015, reconciled to the Company’s net income before income taxes and non-controlling interest as shown in its consolidated statements of income for such periods (in thousands):

	Year Ended December 31, 2017
	Container Leasing		Rail Leasing		Logistics		Total
Container lease revenue	$	235,365	$	-	$	-	$	235,365
Rail lease revenue		-		32,476		-		32,476
Logistics revenue		-		-		80,552		80,552
Total revenue		235,365		32,476		80,552		348,393
Depreciation of rental equipment		99,753		11,199		-		110,952
Storage, handling and other expenses		15,207		5,615		96		20,918
Logistics transportation costs		-		-		68,155		68,155
Gain on sale of used rental equipment		(5,333)		(14)		-		(5,347)
Administrative expenses		22,925		4,756		15,018		42,699
Total operating expenses		132,552		21,556		83,269		237,377
Operating income (loss)		102,813		10,920		(2,717)		111,016
Net interest expense		41,815		11,237		-		53,052
Other expense		765		-		-		765
Total other expenses		42,580		11,237		-		53,817
Net income (loss) before income taxes and non-controlling interest	$	60,233	$	(317)	$	(2,717)	$	57,199
Goodwill	$	-	$	-	$	15,794	$	15,794
Total assets	$	1,940,997	$	449,376	$	40,029	$	2,430,402
Purchase of rental equipment (1)	$	445,168	$	56,882	$	-	$	502,050

	Year Ended December 31, 2016
	Container Leasing		Rail Leasing		Logistics		Total
Container lease revenue	$	202,328	$	-	$	-	$	202,328
Rail lease revenue		-		30,490		-		30,490
Logistics revenue		-		-		61,536		61,536
Total revenue		202,328		30,490		61,536		294,354
Depreciation of rental equipment		95,755		9,122		-		104,877
Storage, handling and other expenses		32,465		3,386		11		35,862
Logistics transportation costs		-		-		51,980		51,980
Loss (gain) on sale of used rental equipment		12,750		33		(112)		12,671
Administrative expenses		20,453		3,759		11,466		35,678
Total operating expenses		161,423		16,300		63,345		241,068
Operating income (loss)		40,905		14,190		(1,809)		53,286
Net interest expense		35,784		6,970		-		42,754
Other expense		654		-		-		654
Total other expenses		36,438		6,970		-		43,408
Income (loss) before income taxes and non-controlling interest	$	4,467	$	7,220	$	(1,809)	$	9,878
Goodwill	$	-	$	-	$	15,794	$	15,794
Total assets	$	1,638,263	$	378,059	$	39,612	$	2,055,934
Purchase of rental equipment (1)	$	118,374	$	132,791	$	-	$	251,165

	Year Ended December 31, 2015
	Container Leasing		Rail Leasing		Logistics		Total
Container lease revenue	$	220,732	$	-	$	-	$	220,732
Rail lease revenue		-		17,433		-		17,433
Logistics revenue		-		-		11,502		11,502
Total revenue		220,732		17,433		11,502		249,667
Depreciation of rental equipment		108,996		4,594		-		113,590
Storage, handling and other expenses		27,653		2,540		1		30,194
Logistics transportation costs		-		-		10,172		10,172
Loss (gain) on sale of used rental equipment		2,276		(1,622)		-		654
Administrative expenses		21,969		3,131		2,517		27,617
Total operating expenses		160,894		8,643		12,690		182,227
Operating income (loss)		59,838		8,790		(1,188)		67,440
Net interest expense		33,156		3,109		6		36,271
Other expense		182		-		-		182
Total other expenses		33,338		3,109		6		36,453
Income (loss) before income taxes and non-controlling interest	$	26,500	$	5,681	$	(1,194)	$	30,987
Purchase of rental equipment (1)	$	226,469	$	162,862	$	-	$	389,331

(1) Represents cash disbursements for purchasing of rental equipment as reflected in the consolidated statements of cash flows for the periods indicated.

Geographic Data

The Company earns its revenue primarily from intermodal containers which are deployed by its customers in a wide variety of global trade routes. Virtually all of the Company’s containers are used internationally and typically no container is domiciled in one particular place for a prolonged period of time. As such, substantially all of the Company’s long-lived assets are considered to be international, with no single country of use.

The Company’s railcars, with a net book value of $440.8 million as of December 31, 2017, are used to transport cargo within North America.

The following table represents the geographic allocation of revenue for the periods indicated based on customers’ primary domicile (in thousands):

	Year Ended December 31,
	2017		2016		2015
United States	$	120,558	$	99,824	$	36,197
France		34,862		29,273		27,603
Switzerland		32,430		19,636		20,215
Korea		20,755		14,904		18,933
Japan		20,388		21,717		26,559
Singapore		19,856		16,172		18,627
Other Europe		45,176		40,170		41,034
Other Asia		43,709		41,473		47,301
Other International		10,659		11,185		13,198
Total revenue	$	348,393	$	294,354	$	249,667