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Consolidated Statements of Income (UNAUDITED) (USD $)
In Thousands, except Share data, unless otherwise specified
3 Months Ended 9 Months Ended
Sep. 30, 2012
Sep. 30, 2011
Sep. 30, 2012
Sep. 30, 2011
Revenue        
Rental revenue $ 40,473 $ 27,593 $ 108,061 $ 74,689
Management fee revenue 2,492 3,065 9,699 9,855
Gain on sale of container portfolios 0 682 1,256 2,345
Finance lease income 1,974 1,622 5,055 2,574
Total revenue 44,939 32,962 124,071 89,463
Operating expenses        
Depreciation of rental equipment 12,495 8,544 34,206 22,726
Amortization of intangible assets 224 339 676 1,025
Gain on disposition of used rental equipment (2,491) (3,751) (8,811) (10,151)
Storage, handling and other expenses 2,197 1,064 5,965 3,519
Marketing, general and administrative expense 6,275 5,317 18,610 15,436
Loss (gain) on foreign exchange 193 (239) 125 (216)
Total operating expenses 18,893 11,274 50,771 32,339
Operating income 26,046 21,688 73,300 57,124
Interest expense 7,179 4,300 19,435 10,803
Interest income (1) (2) (8) (6)
Net interest expense 7,178 4,298 19,427 10,797
Net income before income taxes and non-controlling interest 18,868 17,390 53,873 46,327
Income tax expense 2,102 3,585 7,003 8,436
Net income 16,766 13,805 46,870 37,891
Net income attributable to non-controlling interest (238) (183) (816) (593)
Net income attributable to CAI common stockholders $ 16,528 $ 13,622 $ 46,054 $ 37,298
Net income per share attributable to CAI common stockholders        
Basic (in dollars per share) $ 0.86 $ 0.71 $ 2.39 $ 1.93
Diluted (in dollars per share) $ 0.84 $ 0.70 $ 2.33 $ 1.89
Weighted average shares outstanding        
Basic (in shares) 19,295 19,295 19,295 19,295
Diluted (in shares) 19,764 19,581 19,730 19,727