Triton international ltd (TRTN)
CashFlow / Quarterly
Mar'20Dec'19Sep'19Jun'19Mar'19Dec'18Sep'18Jun'18Mar'18Dec'17Sep'17Jun'17Mar'17Dec'16Sep'16Jun'16Mar'16
Cash flows from operating activities:
Net income (loss)

77,036

83,769

90,603

86,096

92,811

71,425

95,629

106,753

82,865

209,663

59,546

48,014

36,303

25,625

-49,130

7,655

10,065

Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Depreciation, Depletion and Amortization

132,695

132,807

133,367

135,348

134,609

139,474

141,337

133,894

130,433

130,168

128,581

124,091

117,880

120,007

112,309

81,132

79,144

Amortization of deferred debt cost and other debt related amortization

3,595

3,088

2,869

3,248

3,601

4,935

3,443

3,514

3,113

3,216

3,424

4,271

2,490

2,560

702

1,407

1,265

Lease related amortization

7,054

9,609

8,482

11,581

12,254

15,310

17,243

17,713

20,009

22,364

23,330

22,955

24,138

29,813

25,726

0

0

Share-based compensation expense

1,605

1,800

1,700

3,682

1,818

1,600

1,700

3,200

2,500

1,109

1,193

2,241

1,057

1,065

2,046

930

1,358

Gain (Loss) on Sale of Leased Assets, Net, Operating Leases

4,077

4,857

6,196

7,519

8,469

7,999

7,055

11,105

9,218

10,749

10,263

9,639

5,161

-4,261

-12,319

-1,930

-1,837

Gain (Loss) on Derivative Instruments, Net, Pretax

-300

-300

-500

-1,300

-1,000

-1,400

-300

114

1,186

1,320

-629

-789

1,498

9,648

3,486

-4,133

-4,596

Debt termination expense

31

100

1,800

600

0

-

-

-

-

-

-

-

-

-

-

-

-

Deferred income taxes

5,505

8,296

4,975

6,794

7,116

31,831

10,690

14,645

9,301

-123,050

11,266

10,513

6,593

5,964

-7,222

184

265

Changes in operating assets and liabilities:
Accounts receivable

3,775

-32,165

-9,461

28,876

-41,421

43,945

-9,111

29,480

1,071

2,039

2,105

-4,446

6,269

17,530

-17,938

3,671

-1,661

Accounts payable and other accrued expenses

-15,111

11,165

1,658

-11,879

3,019

-10,360

13,319

-17,632

844

-6,204

-10,802

-21,418

-3,978

-15,985

32,172

-9,015

3,522

Net equipment sold for resale activity

-1,435

2,039

-6,719

-286

8,803

-3,690

-5,655

6,501

5,185

-3,529

-5,044

-9,141

8,893

-1,436

-2,595

0

0

Cash collections on finance lease receivables, net of income earned

15,466

19,723

20,026

16,555

17,125

19,208

15,566

14,827

14,771

15,527

15,193

14,373

15,580

16,335

14,404

4,042

3,869

Other assets

23,796

-8,813

-1,588

11,029

1,757

981

-640

265

953

-2,417

-1,304

935

-279

825

-2,228

2,309

-3,055

Net cash provided by (used in) operating activities

197,960

282,399

277,693

206,083

295,731

230,037

308,999

208,951

246,235

292,678

217,337

194,512

162,941

146,706

148,197

82,517

106,768

Cash flows from investing activities:
Payments to Acquire Productive Assets

62,406

79,652

10,532

106,005

43,981

256,305

463,195

625,339

258,668

377,382

520,008

399,767

265,706

244,593

320,641

21,006

43,092

Proceeds from sale of equipment, net of selling costs

49,498

54,263

56,430

56,656

49,947

41,156

38,657

44,558

38,885

54,097

46,508

55,151

34,988

43,196

41,556

28,352

32,468

Other

216

-159

115

156

-26

57

39

119

-55

12

-12

-460

405

319

-208

218

356

Net cash provided by (used in) investing activities

-13,124

-25,990

45,783

-49,505

5,992

-215,206

-424,577

-553,270

-219,728

-368,443

-458,295

-329,783

-215,543

-185,381

-214,124

11,170

-7,111

Cash flows from financing activities:
Issuance of preferred shares, net of underwriting discount

145,275

-221,790

0

138,732

83,058

0

0

0

0

-1

192,932

0

0

-

-

-

-

Purchases of treasury shares

-34,357

431,828

-52,517

-74,809

-82,266

56,274

0

0

0

-

-

-

-

-

-

-

-

Redemption of common shares for withholding taxes

-2,156

0

-4,688

0

-978

-268

-295

0

-822

-

-

-

-

-

-

-

-

Debt issuance costs

0

42

3,254

3,493

1,962

7,083

2,925

4,591

4,976

1,756

12,894

12,327

7,517

836

650

4,880

188

Borrowings under debt facilities

530,000

280,000

274,200

1,018,000

125,000

1,925,000

700,652

907,775

510,210

320,000

1,199,943

1,194,629

388,253

294,271

323,000

37,200

7,500

Payments under debt facilities and finance lease obligations

425,073

638,626

497,507

1,179,537

293,290

1,871,094

513,951

580,155

469,841

205,302

1,153,622

920,312

260,475

236,455

177,393

81,342

106,962

Dividends paid on preferred shares

9,395

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

Dividends paid on common shares

37,110

31,089

41,979

40,366

40,427

41,009

41,642

41,630

36,008

35,971

33,202

33,201

33,183

33,132

51,620

0

0

Distributions to noncontrolling interests

0

-

-

-

2,078

-

-

-

-

-

-

-

-

-

-

-

-

(Increase) decrease in restricted cash

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-22,080

-922

-734

Purchase of noncontrolling interests

0

0

0

-68,922

71,000

7,023

4,380

3,494

4,249

4,617

4,564

4,811

4,898

5,547

6,332

5,893

6,960

Payments to Acquire Limited Partnership Interests

-

-

-

-

-

0

0

0

0

-

-

-

-

-

-

-

-

Other

-410

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

Net cash provided by (used in) financing activities

166,774

-245,553

-325,745

-173,512

-283,943

-57,751

137,459

277,905

-5,686

71,465

189,652

223,978

82,180

-8,646

105,262

-54,369

-105,876

Net increase (decrease) in cash, cash equivalents and restricted cash

351,610

10,856

-2,269

-16,934

17,780

-42,920

21,881

-66,414

20,821

-4,300

-51,306

88,707

29,578

-47,321

39,335

39,318

-6,219

Supplemental disclosures:
Interest paid

53,795

82,794

63,822

94,105

66,106

95,250

65,570

91,436

56,571

85,520

56,721

127,311

49

-

-

-

-

Income taxes paid (refunded)

139

-3,399

288

2,061

155

2,647

1,296

297

244

-

-

-

-

-

-

-

-

Right-of-use asset for leased property

0

410

-656

-427

8,289

0

0

0

0

-

-

-

-

-

-

-

-