Company: TRTN-PA
Filing Date: 2025-11-06
Form Type: 6-K
Source: 0001660734-25-000034
Chunk: 50

Company: Triton International Ltd
Filing Date: 2025-11-06
Form: 6-K
Chunk 50
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 placed on-hire during 2024 at higher rates; partially offset by a

• $12.0 million decrease due to a decrease of approximately 0.3 million CEU in the average number of containers on-hire.

Fee and ancillary lease revenues were $46.6 million for the nine months ended September 30, 2025 compared to $44.3 million in the same period in 2024, an increase of $2.3 million. The increase was primarily due to a $6.8 million increase in repair revenue, partially offset by a $3.9 million decrease related to the TCF VIII Distribution.

Finance lease revenues were $82.5 million for the nine months ended September 30, 2025 compared to $80.6 million in the same period in 2024, an increase of $1.9 million. The increase was primarily due to the additions of new finance leases in connection with the GCI acquisition, partially offset by the runoff of the existing portfolio.

Management fee revenues were $13.4 million for the nine months ended September 30, 2025 resulting from the management of the containers in the TCF VIII securitization portfolio following the TCF VIII Distribution. We did not record any management fee revenues in 2024.

Trading margin. Trading margin was $2.0 million for the nine months ended September 30, 2025 compared to $3.4 million in the same period in 2024, a decrease of $1.4 million. The decrease was primarily due to a decrease in volume in the re-sale of higher margin new production units.

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Net gain (loss) on sale of leasing equipment. Gain on sale of leasing equipment was $21.7 million for the nine months ended September 30, 2025 compared to a $6.1 million loss on sale in the same period in 2024, an increase of $27.8 million. In the second quarter of 2024, we recorded a $57.1 million up-front loss on a finance lease transaction that included certain containers purchased during the COVID-19 pandemic with carrying values exceeding their current market values. Excluding this loss, gain on sale of equipment decreased by $29.3 million primarily due to a decrease in sales volume and a decrease in the average sales price for used dry containers.

Depreciation and amortization. Depreciation and amortization was $297.0 million for the nine