Company: TRTN-PA
Filing Date: 2025-02-28
Form Type: 20-F
Source: 0001660734-25-000004
Chunk: 122

Company: Triton International Ltd
Filing Date: 2025-02-28
Form: 20-F
Item: Item 19
Chunk 122
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639,232  
                       2028        542,814  
                       2029        397,239  
        2030 and thereafter        950,413  
                      Total      4,256,533  

F-23

TRITON INTERNATIONAL LIMITED

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)

As of December 31, 2024, the Company has deferred revenue balances related to operating leases with uneven payment terms. These amounts will be amortized into revenue as follows (in thousands):

  Years ending December 31,               
 ──────────────────────────────────────────
                       2025       65,984  
                       2026       43,225  
                       2027       16,725  
                       2028       15,568  
                       2029       13,877  
        2030 and thereafter       29,381  
                      Total      184,760  

Finance Leases

The following table summarizes the components of the net investment in finance leases (in thousands):

                                                   December 31, 2024                      December 31, 2023                  
 ─────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────
  Future minimum lease payment receivable (1)      $                       1,989,859      $                       1,928,167  
  Estimated residual receivable (2)                                          269,090                                218,199  
  Gross finance lease receivables (3)                                      2,258,949                              2,146,366  
  Unearned income (4)                                                     ( 673,137)                             ( 636,486)  
  Finance lease reserve (5)                        —                                      ( 2,588)                           
  Net investment in finance leases (6)             $                       1,585,812      $                       1,507,292  

(1) There were no executory costs included in gross finance lease receivables as of December 31, 2024 and December 31, 2023.

(2) The Company's finance leases generally include a purchase option at nominal amounts that is reasonably certain to be exercised, and therefore, the Company has immaterial residual value risk for assets.

(3) The gross finance lease receivable is reduced as billed to customers and reclassified to accounts receivable until paid by customers.

(4) There were no unamortized initial direct costs as of December 31