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Consolidated Statements Of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Cash flows from operating activities:      
Net income $ 284,288 $ 73,673 $ 56,556
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation expense 281,575 261,665 260,372
Bad debt (recovery) expense, net (1,285) (1,668) 2,002
Container (recovery) write-off from lessee default, net (4,868) (260) 7,179
Unrealized (gain) loss on financial instruments, net (4,409) 6,044 15,442
Amortization of unamortized debt issuance costs and accretion of bond discounts [1] 9,845 8,112 7,953
Debt termination expense [1] 15,209 8,750  
Amortization of intangible assets 2,540 2,572 2,093
Gain on sale of owned fleet containers, net (67,229) (27,230) (21,397)
Gain on settlement of pre-existing management agreement     (1,823)
Share-based compensation expense 6,699 4,723 4,388
Decrease (increase) in:      
Accounts receivable, net (6,686) 11,539 25,530
Trading containers, net (1,911) 7,211 19,549
Receipt of payments on finance leases, net of income earned 104,770 44,569 49,796
Interest portion of container leaseback financing receivable 122 (933) (2,286)
Prepaid expenses and other current assets (2,577) 1,103 8,693
Due from affiliates, net (867) 371 (39)
Receipt of marketable securities from a lessee (5,789)    
Proceeds from sale of marketable securities 2,112    
Other assets 1,139 502 (10,000)
Increase (decrease) in:      
Accounts payable and accrued expenses (2,350) 981 (4,363)
Other liabilities 14,823 (1,354) 13,519
Due to container investors, net (712) (3,281) (6,407)
Settlement of interest rate swaps (14,350)    
Long-term income tax payable 700 138 339
Deferred taxes, net 994 (972) 1,449
Total adjustments 327,495 322,582 371,989
Net cash provided by operating activities 611,783 396,255 428,545
Cash flows from investing activities:      
Purchase of containers and fixed assets (2,083,819) (746,145) (466,993)
Payments on container leaseback financing receivable (18,705) (116,263) (281,445)
Payment for Leased Assets Pool Company Limited, net of cash acquired     (171,841)
Proceeds from sale of containers and fixed assets 142,276 151,021 150,742
Receipt of principal payments on container leaseback financing receivable 30,119 21,485 7,745
Net cash used in investing activities (1,930,129) (689,902) (761,792)
Cash flows from financing activities:      
Proceeds from debt 4,863,756 2,114,260 1,439,223
Payments on debt (3,635,663) (1,799,870) (1,049,857)
Payment of debt issuance costs (27,895) (13,637) (9,417)
Proceeds from container leaseback financing liability, net 16,305   17,448
Principal repayments on container leaseback financing liability, net (3,314) (12,825)  
Issuance of preferred shares, net of underwriting discount 290,550    
Purchase of treasury shares (72,220) (68,493) (8,597)
Issuance of common shares upon exercise of share options 9,043 1,295 126
Dividends paid on common shares (12,285)    
Dividends paid on preferred shares (9,975)    
Dividends paid to noncontrolling interest     (2,744)
Purchase of noncontrolling interest (21,500)    
Other (970)    
Net cash provided by financing activities 1,395,832 220,730 386,182
Effect of exchange rate changes (79) 177 42
Net increase (decrease) in cash, cash equivalents and restricted cash 77,407 (72,740) 52,977
Cash, cash equivalents and restricted cash, beginning of the year 205,165 277,905 224,928
Cash, cash equivalents and restricted cash, end of the year 282,572 205,165 277,905
Supplemental disclosures of cash flow information:      
Cash paid for interest expense and realized (loss) gain on derivative instruments, net 145,711 126,958 142,248
Net income taxes paid 1,567 34 42
Supplemental disclosures of noncash operating activities:      
Right-of-use asset for leased properties 272 574 11,276
Supplemental disclosures of noncash investing activities:      
(Decrease) increase in accrued container purchases (90,679) 222,253 (33,316)
Containers placed in finance leases $ 1,043,323 $ 635,004 $ 173,856
[1] Amounts for the years ended December 31, 2020 and 2019 have been reclassified to conform with the 2021 presentation (see Note 1 (w) “Reclassifications and Changes in Presentation”).