Triton Outlook and Market Fundamentals
Consolidated Statement of Income
(In thousands, except earnings per share)
Q4'22
Total leasing revenues
416,307 $
Trading margin
1,781
Q3 '22
424,683
3,680
% Change
2022
2021
% Change
(2.0%) $1,679,686 $1,533,880
9.5%
(51.6%)
16,004
34,099
(53.1%)
Net gain on sale of leasing equipment
25,156
26,468
(5.0%)
115,665
107,060
8.0%
Depreciation and amortization
154,661
158,538
(2.4%)
634,837
626,240
1.4%
Interest and debt expense
59,798
57,124
4.7%
226,091
222,024
1.8%
Total ownership costs
214,459
215,662
(0.6%)
860,928
848,264
1.5%
Direct operating expenses
18,238
10,525
73.3%
42,381
26,860
57.8%
Administrative expenses
23,996
22,747
5.5%
93,011
89,319
4.1%
Provision (reversal) for doubtful accounts
(2,998)
(123)
2337.4%
(3,102)
(2,475)
25.3%
Other (income) expense, net
(41)
(644)
(93.6%)
(1,182)
(1,379)
(14.3%)
Unrealized (gain) loss on derivative instruments, net
(23)
19
(221.1%)
(343)
N/A
Debt termination expense
80
190
(57.9%)
1,933
133,853
(98.6%)
Total operating and other costs
39,252
32,714
20.0%
132,698
246,178
(46.1%)
Income before income taxes
189,533
206,455
(8.2%)
817,729
580,597
40.8%
Income tax expense
Net income
24,325
16,618
46.4%
70,807
50,357
40.6%
165,208
189,837
(13.0%) $
746,922 $
530,240
40.9%
Less: dividend on preferred shares
13,028
13,028
Net Income attributable to common shareholders
$
152,180 $
176,809
Net income per common share - Diluted
$
2.61 $
2.88
0.0%
(13.9%) $
(9.4%) $
52,112
694,810 $
11.19 $
45,740
13.9%
484,500
43.4%
7.22
55.0%
TRITON
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