Company: TRTN-PA
Filing Date: 2025-02-28
Form Type: 20-F
Source: 0001660734-25-000004
Chunk: 80

Company: Triton International Ltd
Filing Date: 2025-02-28
Form: 20-F
Item: Item 11
Chunk 80
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 which helps mitigate the impact of changes in short-term interest rates. A 100 basis point increase in the interest rates on our unhedged debt (SOFR) would result in an increase of approximately $12.3 million in interest expense over the next 12 months.

Foreign currency exchange rate risk

The U. S. dollar is the operating currency for the large majority of our leases and obligations, and most of our revenues and expenses are denominated in U. S. dollars. However, we pay our non-U. S. staff in local currencies, and a portion of our direct operating expenses and disposal transactions for our older containers are denominated in foreign currencies. Due to the relatively small portion of our business that is exposed to foreign currency fluctuations, the impact is de minimis. We record realized and unrealized foreign currency exchange gains and losses in Administrative expenses in the Consolidated Statements of Operations as a result of fluctuations in exchange rates related to our Euro and Pound Sterling transactions and our foreign denominated assets and liabilities.

For the year ended December 31, 2024, net foreign currency exchange losses were $0.7 million and for the year ended December 31, 2023, net foreign currency exchange gains were $0.4 million.

ITEM 12. DESCRIPTION OF SECURITIES OTHER THAN EQUITY SECURITIES