Segment and Geographic Information (Tables)

3 Months Ended

Mar. 31, 2020

Segment Reporting [Abstract]

Schedule of segment information

The following tables summarizes our segment information and the consolidated totals reported (in thousands):

	Three Months Ended March 31,
	2020									2019
	Equipment Leasing			Equipment Trading			Totals			Equipment Leasing			Equipment Trading			Totals
Total leasing revenues	$	321,037		$	431		$	321,468		$	340,070		$	789		$	340,859
Trading margin	—			1,933			1,933			—			3,587			3,587
Net gain on sale of leasing equipment	4,077			—			4,077			8,469			—			8,469
Depreciation and amortization expense	132,518			177			132,695			134,422			187			134,609
Interest and debt expense	68,699			303			69,002			83,174			346			83,520
Realized (gain) loss on derivative instruments, net	(234		)	(1		)	(235		)	(702		)	(2		)	(704		)
Income (loss) before income taxes(1)	81,517			1,393			82,910			98,466			3,181			101,647
Purchases of leasing equipment and investments in finance leases(2)	$	62,406		$	—		$	62,406		$	43,981		$	—		$	43,981

(1) Segment income (loss) before income taxes excludes unrealized loss on derivative instruments of $0.3 million and $1.0 million for the three months ended March 31, 2020 and March 31, 2019, respectively, and an immaterial amount for debt termination expense for the three months ended March 31, 2020.

(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.

	March 31, 2020						December 31, 2019
	Equipment Leasing		Equipment Trading		Totals		Equipment Leasing		Equipment Trading		Totals
Equipment held for sale	$	97,403	$	25,072	$	122,475	$	89,755	$	24,749	$	114,504
Goodwill	220,864		15,801		236,665		220,864		15,801		236,665
Total assets	$	9,828,479	$	45,911	$	9,874,390	$	9,596,263	$	46,370	$	9,642,633

Schedule of revenues by geographic location

The following table summarizes the geographic allocation of equipment trading revenues for the three months ended March 31, 2020 and 2019 based on the location of the sale (in thousands):

	Three Months Ended March 31,
	2020		2019
Total equipment trading revenues:
Asia	$	1,532	$	3,292
Europe	4,952		4,871
Americas	6,595		6,765
Bermuda	—		—
Other International	2,301		2,900
Total	$	15,380	$	17,828

The following table summarizes the geographic allocation of equipment leasing revenues for the three months ended March 31, 2020 and 2019 based on customers' primary domicile (in thousands):

	Three Months Ended March 31,
	2020		2019
Total equipment leasing revenues:
Asia	$	120,806	$	137,450
Europe	164,263		162,557
Americas	26,261		30,782
Bermuda	443		678
Other International	9,695		9,392
Total	$	321,468	$	340,859