Company: TRTN-PA
Filing Date: 2025-02-28
Form Type: 20-F
Source: 0001660734-25-000004
Chunk: 130

Company: Triton International Ltd
Filing Date: 2025-02-28
Form: 20-F
Item: Item 19
Chunk 130
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 410,524      $                      415,901  

At December 31, 2024, the Company had U. S. state net operating loss carryforwards of $ 7.6 46.2

The Company has not recorded a valuation allowance for deferred tax assets as of December 31, 2024 or 2023. In assessing the potential future realization of deferred tax assets, management considers whether it is more likely than not that some portion or all of the deferred tax assets will not be realized. The ultimate realization of deferred tax assets is dependent upon the generation of future taxable income during the periods in which those temporary differences become deductible. The Company considers the scheduled reversal of deferred tax liabilities, projected future taxable income and tax planning strategies in making this assessment. Based upon the level of historical taxable income and projections for future taxable income over the periods during which the deferred tax assets are deductible, the Company believes it is more likely than not that the Company will realize the benefits of these deductible differences as of December 31, 2024.

Certain income taxes on unremitted earnings have not been reflected on the Consolidated Financial Statements because such earnings are intended to be permanently reinvested in those jurisdictions. Such earnings and related income taxes are estimated to be approximately $ 520.8 156.1

The Company did not record any unrecognized tax benefits for the years ended December 31, 2024 or 2023.

The Company files income tax returns in several jurisdictions including the U. S. and certain U. S. states. The tax years 2021 through 2024 remain subject to examination by major tax jurisdictions.

The Company accrues interest and penalties related to income taxes in the provision for income taxes. The following table summarizes interest and penalty expense (in thousands):

                                  Year Ended December 31,                                 
                                  2024                         2023      2022             
 ──────────────────────────────────────────────────────────────────────────────────────────
  Interest expense (benefit)      $                            $         $         ( 86)  
  Penalty expense (benefit)       $                            $         $         ( 98)  

F-32

TRITON INTERNATIONAL LIMITED

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)

The following table summarizes the components of income taxes payable included in Accounts payable and other accrued expenses on the Consolidated Balance Sheets (in thousands):

                                      December 31, 2024               December 31, 2023          
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