Company: TRTN-PA
Filing Date: 2025-05-02
Form Type: 6-K
Source: 0001660734-25-000016
Chunk: 8

Company: Triton International Ltd
Filing Date: 2025-05-02
Form: 6-K
Chunk 8
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 conform to the current year's presentation.

In connection with the acquisition of the Company by Brookfield Infrastructure through its subsidiary Brookfield Infrastructure Corporation in September 2023 (the "Merger"), the Company cancelled all of its then issued treasury shares on September 28, 2023. The Company recorded the cancellation as a reduction to Additional paid-in capital of $ 1,203.2million during the year ended December 31, 2023. Subsequent to the issuance of the December 31, 2024 financial statements, the Company concluded that the reduction should have been recorded to Retained earnings. Accordingly, the Company recorded an out-of-period adjustment between Additional paid-in capital and Accumulated earnings of $ 1,203.2million as of March 31, 2025.

Use of Estimates

The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenues and expenses, and disclosure of contingent assets and liabilities in the financial statements. Such estimates include, but are not limited to, the Company's estimates in connection with leasing equipment, including residual values and depreciable lives, values of assets held for sale and other long-lived assets, provision for income tax, allowance for doubtful accounts, components of compensation, goodwill and intangible assets. Actual results could differ from those estimates.

Effective January 1, 2025, the Company increased the estimated useful lives for dry containers and refrigerated containers to 15and 13years, respectively, and decreased the residual value of its refrigerated containers. For the three months ended March 31, 2025, the impact of these changes resulted in a net decrease to depreciation expense of $ 4.2million, including a one-time increase of $ 22.8million related to those refrigerated containers in the Company's leasing fleet that had reached the end of their useful life at the time of the change.

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### TRITON INTERNATIONAL LIMITED

### NOTES TO UNAUDITED CONSOLIDATED FINANCIAL STATEMENTS
Concentration of Credit Risk

The Company's equipment leases and trade receivables subject it to potential credit risk. The Company extends credit to its customers based upon an evaluation of each customer's financial condition and credit history. Evaluations of the financial condition and associated credit risk of customers are performed on an ongoing basis.As a percent of its lease billings, the Company's three largest customers accounted for 20%, 18%, and