TEXTAINER GROUP HOLDINGS LTD TGH Income Statement

Textainer group holdings ltd (TGH)

Income statement / TTM

Dec'12	Sep'12	Jun'12	Mar'12	Dec'11	Sep'11	Jun'11	Mar'11	Dec'10	Sep'10	Jun'10	Mar'10	Dec'09	Sep'09	Jun'09	Mar'09
Revenues:
Lease rental income
383,989	364,245	351,898	343,156	327,627	308,792	284,913	258,605	235,827	218,650	202,810	190,265	189,779	0	0	0
Management fees
26,169	26,917	28,119	28,441	29,324	30,768	31,131	30,413	29,137	27,646	26,655	25,792	25,228	0	0	0
Trading container sales proceeds
42,099	50,109	48,075	40,986	34,214	20,889	14,076	12,039	11,291	16,417	15,790	13,595	11,843	0	0	0
Gain on sale of containers, net
34,837	34,916	35,271	36,526	31,631	29,969	26,445	24,404	27,624	25,752	23,636	19,045	12,111	0	0	0
Gains (losses) on sales-type leases, net
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0
Total revenues
487,094	476,187	463,363	449,109	422,796	390,418	356,565	325,461	303,879	288,768	269,194	249,000	238,961	0	0	0
Operating expenses:
Direct container expense
25,173	23,143	22,198	20,409	18,307	16,847	16,474	20,124	25,542	32,924	39,093	40,616	39,062	0	0	0
Cost of trading containers sold
36,810	43,262	41,398	35,292	29,456	18,383	12,155	10,050	9,046	13,068	12,523	10,880	9,721	0	0	0
Depreciation expense
-	0	0	0	-	79,726	75,808	64,995	58,972	54,429	52,091	50,164	48,473	0	0	0
Amortization expense
5,020	5,215	5,383	5,658	6,110	6,531	6,724	6,725	6,544	6,389	6,773	7,047	7,080	0	0	0
General and administrative expense
23,015	22,494	22,799	23,020	23,495	23,617	22,962	22,520	21,670	21,151	20,864	20,327	20,304	0	0	0
Short-term incentive compensation expense
5,310	4,682	4,782	4,954	4,921	5,054	5,142	4,998	4,805	4,557	3,850	3,095	2,924	0	0	0
Long-term incentive compensation expense
6,950	6,715	6,520	6,368	5,950	5,582	5,288	4,979	5,318	5,159	4,989	4,809	3,575	0	0	0
Bad debt expense, net
1,525	3,925	4,924	4,589	3,007	0	0	0	-	-	-	2,361	3,304	0	0	0
Bad debt expense (recovery), net
-	-	-	-	-	-	-	-	-	0	0	-	-	-	-	-
Gain on sale of containers to noncontrolling interest
-	-	-	-	-	-	0	-	-	-	-	-	-	-	-	-
Total operating expenses
208,647	202,259	192,695	166,408	154,650	138,591	125,950	134,948	132,042	137,522	140,812	139,299	134,443	0	0	0
Income from operations
278,447	273,928	270,668	282,701	268,146	251,827	230,615	190,513	171,837	151,246	128,382	109,701	104,518	0	0	0
Other (expense) income:
Interest expense
72,886	67,340	61,607	52,087	44,891	36,900	29,250	23,020	18,151	14,344	10,873	11,104	11,750	0	0	0
Gain on early extinguishment of debt
-	-	-	-	-	-	-	-	-	-	-	-	19,398	0	0	0
Interest income
146	115	81	53	32	28	30	26	27	21	21	35	61	0	0	0
Realized losses on interest rate swaps, collars and caps, net
-10,163	-10,276	-10,496	-10,732	-10,824	-10,615	-10,144	-9,733	-9,844	-10,767	-12,013	-13,458	-14,608	0	0	0
Unrealized gains (losses) on interest rate swaps, collars and caps, net
5,527	5,093	466	-5,012	-3,849	-263	65	-210	-4,021	-5,622	-3,243	8,218	11,147	0	0	0
Gain on lost military containers, net
-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0
Other, net
44	4	13	-65	-115	-875	-1,379	-1,579	-1,591	-924	-276	243	35	0	0	0
Net other expense
-67,891	-72,404	-71,543	-67,843	-59,647	-48,625	-40,678	-34,516	-33,580	-32,450	-26,552	93	4,283	0	0	0
Income (loss) before income tax and noncontrolling interests
210,556	201,524	199,125	214,858	208,499	203,202	189,937	155,997	138,257	118,796	101,830	109,794	108,801	0	0	0
Income tax (expense) benefit, net
5,493	2,091	4,546	4,190	4,481	8,785	7,605	6,493	4,493	1,837	3,083	1,929	3,471	0	0	0
Net income (loss)
205,063	199,433	194,579	210,668	204,018	194,417	182,332	149,504	133,764	116,959	98,747	107,865	105,330	0	0	0
Less: Net (income) loss attributable to the noncontrolling interests
-1,887	-1,863	-1,859	8,342	14,412	19,683	22,730	16,522	13,733	11,631	10,584	13,761	14,554	0	0	0
Net income (loss) attributable to Textainer Group Holdings Limited common shareholders
206,950	201,296	196,438	202,326	189,606	174,734	159,602	132,982	120,031	105,328	88,163	94,104	90,776	0	0	0
Net income (loss) attributable to Textainer Group Holdings Limited common shareholders per share:
Basic
1.10	1.01	0.92	1.01	1.12	0.94	1.06	0.76	0.83	0.64	0.52	0.51	0.53	0.28	0.65	0.44
Diluted
1.07	0.99	0.91	0.99	1.10	0.92	1.03	0.75	0.80	0.62	0.51	0.50	0.51	0.28	0.65	0.44
Weighted average shares outstanding (in thousands):
Basic
55,792	50,348	49,543	49,425	48,961	48,916	48,899	48,660	48,228	48,171	48,067	47,966	47,761	47,761	47,761	47,761
Diluted
56,983	51,199	50,358	50,384	49,797	49,692	49,975	49,892	49,867	49,441	49,157	48,763	48,801	48,212	47,964	47,763
Other comprehensive income (loss):
Foreign currency translation adjustments
142	-92	-91	19	24	0	0	0	-	-	-	-	-	-	-	-
Comprehensive income (loss)
205,205	199,341	194,488	210,687	204,042	0	0	0	-	-	-	-	-	-	-	-
Comprehensive (income) loss attributable to the noncontrolling interest
-1,887	-1,863	-1,859	8,342	14,412	0	0	0	-	-	-	-	-	-	-	-
Comprehensive income (loss) attributable to Textainer Group Holdings Limited common shareholders
207,092	201,204	196,347	202,345	189,630	0	0	0	-	-	-	-	-	-	-	-