XML 45 R31.htm IDEA: XBRL DOCUMENT v3.8.0.1
Business Combination (Tables)
12 Months Ended
Dec. 31, 2017
Acquired Finite-Lived Intangible Assets [Line Items]  
Business Combination, Separately Recognized Transactions [Table Text Block]
Transaction and other costs associated with the Merger for the years ended December 31, 2017, 2016 and 2015 were as follows (in thousands):
 
December 31, 2017
 
December 31, 2016
 
December 31, 2015
Employee compensation costs
$
9,271

 
$
40,360

 
$
3,520

Professional fees
—

 
14,295

 
2,841

Legal expenses
10

 
3,370

 
3,919

Other
(9
)
 
2,412

 
—

     Total
$
9,272

 
$
60,437

 
$
10,280

Finite-Lived and Indefinite-Lived Intangible Assets Acquired as Part of Business Combination [Table Text Block]
The acquired intangible assets are comprised of a lease intangible for leases acquired with lease rates that were above market and a customer intangible related to the chassis and tank customer lists acquired. The estimated weighted average remaining useful lives of 1.9 years for the lease intangibles and 1.5 years for customer intangibles are consistent with the expected remaining benefit period of these intangible assets.

The following table summarizes the intangible assets amortization as of December 31, 2017 (in thousands):
Years ending December 31,
Above market lease intangibles
 
Customer intangibles (1)
 
Total intangible assets
2018
$
61,451

 
$
1,433

 
$
62,884

2019
36,426

 
758

 
37,184

2020
22,632

 
—

 
22,632

2021
16,652

 
—

 
16,652

2022
10,572

 
—

 
10,572

2023 and thereafter
6,643

 
—

 
6,643

Total
$
154,376

 
$
2,191

 
$
156,567

Business Acquisition, Pro Forma Information [Table Text Block]
The unaudited pro forma financial information presented below is not necessarily indicative of results that might have been achieved had the Merger occurred as of January 1, 2015. The following table summarizes the unaudited pro forma results of operations (in thousands):
 
December 31, 2016
 
December 31, 2015
Total leasing revenues
$
1,076,753

 
$
1,198,148

Net income attributable to shareholders
$
36,015

 
$
180,638

Schedule of Business Acquisitions by Acquisition, Contingent Consideration [Table Text Block]
Net assets acquired:
 
Assets:
 
Cash and cash equivalents
$
50,349

Restricted cash
59,115

Accounts receivable, net
75,846

Leasing equipment
3,052,693

Net investment in finance leases
159,885

Equipment held for sale
80,655

Other assets
32,084

Intangible Assets:
 
Lease intangibles
298,457

Customer intangibles
4,300

Goodwill
236,665

Accounts payable and other accrued expenses
(63,858
)
Derivative instruments
(64,206
)
Equipment purchases payable
(10,071
)
Deferred income tax liability
(280,610
)
Debt
(3,121,118
)
Total consideration
$
510,186