Company: TRTN-PA
Filing Date: 2025-11-06
Form Type: 6-K
Source: 0001660734-25-000034
Chunk: 47

Company: Triton International Ltd
Filing Date: 2025-11-06
Form: 6-K
Chunk 47
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67.4 million in the same period in 2024, an increase of $2.5 million. This increase was primarily due to a $1.4 million increase due to an increase in the average effective interest rate which is primarily due to the maturity of lower interest fixed-rate debt in the second quarter of 2024, coupled with higher variable rate debt borrowings in the second quarter of 2025 to fund the GCI acquisition. In addition, there was an $8.9 million increase in interest and debt expense in connection with the GCI acquisition, partially offset by a $8.0 million decrease related to the TCF VIII Distribution.

Income tax expense (benefit). Income tax expense was $13.8 million for the three months ended September 30, 2025 compared to $15.4 million in the same period in 2024, a decrease of $1.6 million. The decrease in income tax expense was primarily the result of a decrease in pre-tax income partially offset by an increase in the effective tax rate. The Company's effective tax rate was 10.5% for the three months ended September 30, 2025 compared to 9.3% in 2024. The increase in the effective tax rate was primarily due to an increase in pre-tax income in higher rate tax jurisdictions.

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The following table presents our comparative operating results (in thousands):

| Revenues:                                            |     | Nine Months Ended September 30, 
 2025                            |           |     | 2024 |           |     | Variance |          |
|:-----------------------------------------------------|:----|:--------------------------------|----------:|:----|:-----|----------:|:----|:---------|---------:|
| Operating lease revenues                             |     | $                               |   930,877 |     | $    | 1,060,968 |     | $        | -130,091 |
| Finance lease revenues                               |     |                                 |    82,467 |     |      |    80,625 |     |          |    1,842 |
| Management fee revenues                              |     |                                 |    13,412 |     |      |         — |     |          |   13,412 |
| Total revenues                                       |     |                                 | 1,026,756 |     |      | 1,141,593 |     |          | -114,837 |
| Equipment trading revenues