Segment and Geographic Information (Tables)

12 Months Ended

Dec. 31, 2017

(in thousands):



As of and for the Year Ended December 31, 2017	Equipment Leasing		Equipment Trading		Totals
Total leasing revenues	$	1,160,196	$	3,321	$	1,163,517
Trading margin	—		4,184		4,184
Net gain on sale of leasing equipment	35,812		—		35,812
Depreciation and amortization expense	500,099		621		500,720
Interest and debt expense	280,909		1,438		282,347
Realized loss on derivative instruments, net	900		—		900
Income before income taxes(1)	262,574		3,254		265,828
Equipment held for sale	31,534		11,661		43,195
Goodwill	220,864		15,801		236,665
Total assets	9,534,330		43,295		9,577,625
Purchases of leasing equipment and investments in finance leases(2)	1,562,863		—		1,562,863



As of and for the Year Ended December 31, 2016	Equipment Leasing			Equipment Trading			Totals
Total leasing revenues	$	827,111		$	1,583		$	828,694
Trading margin	—			618			618
Net (loss) on sale of leasing equipment	(20,347		)	—			(20,347		)
Depreciation and amortization expense	392,250			342			392,592
Interest and debt expense	183,377			637			184,014
Realized loss on derivative instruments, net	3,438			—			3,438
Loss before income taxes(1)	(6,302		)	(3,795		)	(10,097		)
Equipment held for sale	81,804			18,059			99,863
Goodwill	220,864			15,801			236,665
Total assets	8,660,786			52,785			8,713,571
Purchases of leasing equipment and investments in finance leases(2)	629,176			156			629,332



As of and for the Year Ended December 31, 2015	Equipment Leasing		Equipment Trading		Totals
Total leasing revenues	$	707,839	$	—	$	707,839
Net gain on sale of leasing equipment	2,013		—		2,013
Depreciation and amortization expense	300,470		—		300,470
Interest and debt expense	140,644		—		140,644
Realized loss on derivative instruments, net	5,496		—		5,496
Income before income taxes(1)	135,127		—		135,127
Equipment held for sale	—		—		—
Goodwill	—		—		—
Total assets	4,658,997		—		4,658,997
Purchases of leasing equipment and investments in finance leases(2)	398,799		—		398,799

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(1)

Segment income (loss) before income taxes excludes unrealized gains on interest rate swaps of $1.4 million, unrealized gains on interest rate swaps of $4.4 million, and unrealized losses on interest swaps of $2.2 million for the years ended December 31, 2017, 2016, and 2015, respectively, and the write-off of debt costs of $7.0 million, $0.1 million, and $1.2 million for the years ended December 31, 2017, 2016, and 2015, respectively.


(2)	Represents cash disbursements for purchases of leasing equipment and investments in finance lease 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.

Geographic allocation of revenues for the periods indicated based on the customers primary domicile and allocates equipment trading revenue based on the location of sale

The following table represents the geographic allocation of equipment trading revenues for the years ended December 31, 2017 and 2016 (the Company had no equipment trading revenues in 2015) based on the location of the sale (in thousands):



	Year Ended December 31, 2017		Year Ended December 31, 2016
Total revenues:
Asia	$	17,342	$	7,410
Europe	8,383		4,439
Americas	7,747		3,082
Other International	3,925		1,487
Bermuda	22		—
Total	$	37,419	$	16,418

The following table summarizes the geographic allocation of equipment leasing revenues for the years ended December 31, 2017, 2016, and 2015 based on customers' primary domicile (in thousands):



	Year Ended December 31, 2017		Year Ended December 31, 2016		Year Ended December 31, 2015
Total revenues:
Asia	$	491,996	$	397,500	$	403,910
Europe	518,598		334,118		226,905
Americas	111,558		58,945		41,566
Bermuda	1,745		464		120
Other International	39,620		37,667		35,338
Total	$	1,163,517	$	828,694	$	707,839