Segment and Geographic Information Segment Information The Company operates its business in one industry, intermodal transportation equipment, and has two operating segments which also represent its reporting segments:  Equipment leasingthe Company owns, leases and ultimately disposes of containers and chassis from its lease fleet.  Equipment tradingthe Company purchases containers from shipping line customers, and other sellers of containers, and resells these containers to container retailers and users of containers for storage or one-way shipment. Included in the equipment trading segment revenues are leasing revenues from equipment purchased for resale that is currently on lease until the containers are dropped off. These operating segments were determined based on the chief operating decision maker's review and resource allocation of the products and service offered. The following tables summarize segment information and the consolidated totals reported (in thousands): Three Months Ended June 30, 2019 2018 Equipment Leasing Equipment Trading Totals Equipment Leasing Equipment Trading Totals Total leasing revenues $ 337,897 $ 669 $ 338,566 $ 328,188 $ 1,583 $ 329,771 Trading margin  4,496 4,496  3,994 3,994 Net gain on sale of leasing equipment 7,519  7,519 11,105  11,105 Depreciation and amortization expense 135,181 167 135,348 133,810 84 133,894 Interest and debt expense 81,883 377 82,260 78,641 386 79,027 Realized (gain) loss on derivative instruments, net (667 ) (2 ) (669 ) (491 ) (1 ) (492 ) Income before income taxes (1)(3) 92,294 3,669 95,963 116,430 6,605 123,035 Purchases of leasing equipment and investments in finance leases (2) $ 106,005 $  $ 106,005 $ 625,339 $  $ 625,339 Six Months Ended June 30, 2019 2018 Equipment Leasing Equipment Trading Totals Equipment Leasing Equipment Trading Totals Total leasing revenues $ 677,967 $ 1,458 $ 679,425 $ 642,617 $ 2,251 $ 644,868 Trading margin  8,083 8,083  6,985 6,985 Net gain on sale of leasing equipment 15,988  15,988 20,323  20,323 Depreciation and amortization expense 269,603 354 269,957 263,664 663 264,327 Interest and debt expense 165,057 723 165,780 153,415 710 154,125 Realized (gain) loss on derivative instruments, net (1,369 ) (4 ) (1,373 ) (739 ) (1 ) (740 ) Income before income taxes (1)(3) 190,760 6,850 197,610 206,396 8,821 215,217 Purchases of leasing equipment and investments in finance leases (2) $ 149,986 $  $ 149,986 884,007 $  $ 884,007 (1) Segment income before income taxes excludes unrealized gains or losses on derivative instruments and debt termination expense. The Company recorded unrealized losses on derivative instruments of $1.3 million and $2.3 million for the three and six months ended June 30, 2019 , respectively, and unrealized gains on derivative instruments of $0.1 million and $1.3 million for the three and six months ended June 30, 2018 , respectively. The Company recorded debt termination expense of $0.6 million for the three and six months ended June 30, 2019 and $0.5 million for the three and six months ended June 30, 2018 . (2) Represents cash disbursements for purchases of leasing equipment and investments in finance leases as reflected in the consolidated statements of cash flows for the periods indicated, but excludes cash flows associated with the purchase of equipment held for resale. (3) Equipment leasing segment includes gain on sale of an office building of $21.0 million for the three and six months ended June 30, 2018 . June 30, 2019 December 31, 2018 Equipment Leasing Equipment Trading Totals Equipment Leasing Equipment Trading Totals Equipment held for sale $ 62,613 $ 29,155 $ 91,768 $ 46,968 $ 19,485 $ 66,453 Goodwill 220,864 15,801 236,665 220,864 15,801 236,665 Total assets $ 9,943,110 $ 52,723 $ 9,995,833 $ 10,224,421 $ 45,592 $ 10,270,013 There are no intercompany revenues or expenses between segments. Certain administrative expenses have been allocated between segments based on an estimate of services provided to each segment. A portion of the Company's equipment purchased for resale was purchased through certain sale-leaseback transactions with its shipping line customers. Due to the expected longer-term nature of these transactions, these purchases are reflected as leasing equipment as opposed to equipment held for sale and the cash flows associated with these transactions are reflected as purchases of leasing equipment and proceeds from the sale of equipment in investing activities in the Company's consolidated statements of cash flows. Geographic Segment Information The Company generates the majority of its leasing revenues from international containers which are deployed by its customers in a wide variety of global trade routes. The majority of the Company's leasing related revenue is denominated in U.S. dollars. The following table summarizes the geographic allocation of equipment leasing revenues for the three and six months ended June 30, 2019 and 2018 based on the Company's customers' primary domicile (in thousands): Three Months Ended June 30, Six Months Ended June 30, 2019 2018 2019 2018 Total equipment leasing revenues: Asia $ 134,355 $ 134,751 $ 271,805 $ 264,941 Europe 163,436 154,482 325,993 298,131 Americas 30,908 30,102 61,690 61,152 Bermuda 539 721 1,217 1,334 Other International 9,328 9,715 18,720 19,310 Total $ 338,566 $ 329,771 $ 679,425 $ 644,868 Since the majority of the Company's containers are used internationally, where no one container is domiciled in one particular place for a prolonged period of time, all of the Company's long-lived assets are considered to be international. The following table summarizes the geographic allocation of equipment trading revenues for the three and six months ended June 30, 2019 and 2018 based on the location of the sale (in thousands): Three Months Ended June 30, Six Months Ended June 30, 2019 2018 2019 2018 Total equipment trading revenues: Asia $ 3,693 $ 3,261 $ 6,985 $ 5,715 Europe 7,560 5,064 12,431 9,353 Americas 9,288 7,773 16,053 12,757 Bermuda     Other International 2,668 2,001 5,568 3,649 Total $ 23,209 $ 18,099 $ 41,037 $ 31,474