Company: TRTN-PA
Filing Date: 2025-02-28
Form Type: 20-F
Source: 0001660734-25-000004
Chunk: 120

Company: Triton International Ltd
Filing Date: 2025-02-28
Form: 20-F
Item: Item 19
Chunk 120
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  Interest Rate Swap                          $ 1,866.3                              2.54%      3.6 years         

The following table summarizes the impact of derivative instruments on the Consolidated Statements of Operations and the Consolidated Statements of Comprehensive Income on a pretax basis (in thousands):

                                                                                                        Year Ended December 31,                                                                    
                                             Financial statement caption                                2024                                        2023                     2022                  
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  Non-Designated Derivative Instruments                                                                                                                                                            
  Unrealized (gains) losses                  Unrealized (gain) loss on derivative instruments, net      $                                   40      $             ( 15)      $             ( 343)  
  Designated Derivative Instruments                                                                                                                                                                
  Realized (gains) losses                    Interest and debt (income) expense                         $                            ( 50,795)      $         ( 47,648)      $                260  
  Unrealized (gains) losses                  Comprehensive (income) loss                                $                            ( 55,913)      $         ( 20,148)      $         ( 168,156)  

Fair Value of Derivative Instruments

The Company presents the fair value of derivative instruments on a gross basis as a separate line item on the Consolidated Balance Sheets.

The Company has elected to use the income approach to value its interest rate swap and cap agreements, using Level 2 market expectations at the measurement date and standard valuation techniques to convert future values to a single discounted present value. The Level 2 inputs for the interest rate swap and cap valuations are inputs other than quoted prices that are observable for the asset or liability (specifically SOFR and swap rates and credit risk at commonly quoted intervals).

Note 9 - Leases

Lessee

The Company's leases office facilities under various cancellable and non-cancellable operating leases, most of which provide extension or early termination options. The Company's lease agreements do not contain any residual value guarantees or material restrictive covenants.

F-22

TRITON INTERNATIONAL LIMITED

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)

The following table summarizes the impact of the Company's leases in its financial statements (in thousands):

  Balance Sheet                       Financial statement caption                                                   December 31, 2024                  December 31, 2023              
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