Company: TRTN-PA
Filing Date: 2025-02-28
Form Type: 20-F
Source: 0001660734-25-000004
Chunk: 127

Company: Triton International Ltd
Filing Date: 2025-02-28
Form: 20-F
Item: Item 19
Chunk 127
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.4                 $ 1.72      10.4                 $ 1.72      10.4  
  E (1)                        $ 1.44                  $10.1                 $ 1.44      10.1                 $ 1.44      10.1  
  Total                                                $52.1                             52.1                             52.1  

(1) Per share payments rounded to the nearest whole cent.

As of December 31, 2024, the Company had cumulative unpaid preference dividends of $ 2.2

Note 12 - Segment and Geographic Information

Segment Information

The Company operates its business in one industry, intermodal transportation equipment, and has two

• Equipment leasing - the Company owns, leases and ultimately disposes of containers and chassis from its lease fleet.

• Equipment trading - the Company purchases containers from shipping line customers, and other sellers of containers, and resells these containers to container retailers and users of containers for storage or one-way shipment. Included in the equipment trading segment revenues are leasing revenues from equipment purchased for resale that is currently on lease until the containers are dropped off.

These operating segments were determined based on the chief operating decision maker's review and resource allocation of the products and services offered. The Company’s Chief Operating Decision Maker(s) ("CODM") is the Senior executive team.

F-27

TRITON INTERNATIONAL LIMITED

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)

Most of Triton’s revenues are derived from leasing equipment to the Company's core shipping line customers. The most important driver of profitability is the extent to which leasing revenues, which are driven by the Company's owned equipment fleet size, utilization and average lease rates, exceed ownership (depreciation and interest expense) and operating costs. The Company's profitability is also driven by the gains or losses realized on the sale of used containers and the margins generated from trading new and used containers. The CODM uses leasing margin and disposal gains in the Company's equipment leasing segment and net trading margin in the equipment trading segment as the primary measures of profitability and the basis for the allocation of resources. Within the components of leasing margin the CODM will analyze the relationship between revenue trends and certain significant expenses including storage and handling and repair costs. The Company adopted ASU 2023-07 in December of 2024 on a retrospective basis.

The following tables summarizes the Company's segment information and the consolidated totals reported (in thousands):

  As of and for