Triton International Limited (NYSE:TRTN) Q4 2022 Earnings Call Transcript

Brian Sondey: And when we think of leverage, we typically look at the ratio of our net debt compared to our revenue earnings assets and actually adjust it a little bit for preferred stock and for some customer prepayments. But generally speaking, we try to keep that ratio in a relatively constant place, and so if assets are shrinking like they did towards the end of last year, usually we’re paying down debt in addition to using cash flow to buy back stock, and if assets are growing, usually we’re issuing new debt to finance at least a portion of that asset growth, again maintaining constant leverage ratios. As Michael said, we look at the amount of debt and the balance of fixed and floating as being somewhat disconnected, with the amount of debt being targeted towards keeping our ratios constant and the fixed and floating mix really oriented around making sure that we’re properly hedging our long term lease portfolio.

Liam Burke: Great, thank you Brian, thank you Michael.

Brian Sondey: Thanks Liam.

Operator: This concludes our question and answer session. I would like to turn the conference back over to Brian Sondey for any closing remarks.

Brian Sondey: Just like to thank everyone for your continued interest and support for Triton. Thank you.

Operator: The conference has now concluded. Thank you for attending today’s presentation. You may now disconnect.