Company: TRTN-PA
Filing Date: 2025-11-06
Form Type: 6-K
Source: 0001660734-25-000034
Chunk: 52

Company: Triton International Ltd
Filing Date: 2025-11-06
Form: 6-K
Chunk 52
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versal) for doubtful accounts. Provision for doubtful accounts was $2.5 million for the nine months ended September 30, 2025 compared to a reversal of $1.5 million in the same period in 2024. We recorded a reserve in the second quarter of 2025 for equipment not expected to be recovered due to a customer default at the end of 2024. In the second quarter of 2024, reserves established in 2022 related to a customer default were reversed due to better than expected recoveries.

Interest and debt expense. Interest and debt expense was $196.9 million for the nine months ended September 30, 2025 compared to $190.2 million in the same period in 2024, an increase of $6.7 million. This increase was primarily due to a $12.2 million increase in connection with the GCI acquisition. In addition, we had a $11.5 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 rate debt borrowings in 2024 and 2025. These increases were partially offset by a $17.0 million decrease related to the TCF VIII Distribution.

Income tax expense (benefit). Income tax expense was $41.1 million for the nine months ended September 30, 2025 compared to $41.4 million in the same period in 2024, a decrease of $0.3 million. The decrease in income tax expense was primarily the result of an increase in pre-tax income partially offset by a decrease in the effective tax rate. The Company's effective tax rate was 9.6% in 2025 compared to 10.5% in 2024. The decrease in the effective tax rate was primarily due to nondeductible transaction costs incurred in connection with the Merger and the up-front loss on a finance lease transaction recorded in a lower rate tax jurisdiction during the second quarter of 2024, which resulted in a disproportionate increase to pre-tax income in higher rate tax jurisdictions.

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#### Critical Accounting Estimates
Our Consolidated Financial Statements have been prepared in conformity with U.S. generally accepted accounting principles ("GAAP"), which requires us to make estimates and assumptions that affect the amounts and disclosures reported in the Consolidated Financial Statements and accompanying notes. We base our estimates and judgments on historical experience and on various other