Company: FCNCB
Filing Date: 2025-08-08
Form Type: 10-Q
Source: 0000798941-25-000040
Chunk: 41

Company: FIRST CITIZENS BANCSHARES INC /DE/
Filing Date: 2025-08-08
Form: 10-Q
Item: Item 2
Chunk 41
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 average prior or expiring lease rate during the Current Quarter. Railcar utilization, including commitments to lease, was 96.9% at June 30, 2025, stable with 97.0% at December 31, 2024. 

Rail segment customers include all of the U.S. and Canadian Class I railroads (i.e., railroads with annual revenues of approximately $500 million and greater) and other railroads, as well as manufacturers and commodity shippers. Our total operating lease fleet at June 30, 2025 consisted of approximately 127,300 railcars and locomotives. 

The following tables reflect the proportion of railcars by type based on units and net investment, and rail operating lease equipment by obligor industry:

Table 19

Operating Lease Railcar Portfolio by Type (units and net investment)

June 30, 2025March 31, 2025December 31, 2024Railcar TypeTotal Owned Fleet - % Total UnitsTotal Owned Fleet - % TotalNet InvestmentTotal Owned Fleet - % Total UnitsTotal Owned Fleet - % TotalNet InvestmentTotal Owned Fleet - % Total UnitsTotal Owned Fleet - % TotalNet InvestmentCovered hoppers45 %41 %45 %41 %45 %42 %Tank cars28 39 27 39 27 38 Mill/ coil gondolas8 6 8 6 8 6 Coal7 1 7 1 7 1 Boxcars6 5 6 5 6 6 Other6 8 7 8 7 7 Total100 %100 %100 %100 %100 %100 %

Table 20

Rail Operating Lease Equipment by Obligor Industry

dollars in millions June 30, 2025March 31, 2025December 31, 2024Manufacturing$3,659 42 %$3,545 41 %$3,467 40 %Rail2,011 23 2,011 23 2,003 23 Wholesale1,550 18 1,553 18 1,505 18 Oil and gas extraction / services483 5 518 6 583 7 Energy and utilities222 3 240 3 239 3 Other 791 9 773 9 776 9 Total$8,716 100