XML 33 R2.htm IDEA: XBRL DOCUMENT v2.4.0.8
CONSOLIDATED BALANCE SHEETS (USD $)
In Thousands, unless otherwise specified
Sep. 30, 2014
Dec. 31, 2013
Current assets    
Cash $ 19,048 $ 31,141
Cash attributable to variable interest entities 31,402 14,600
Accounts receivable (owned fleet), net of allowance for doubtful accounts of $504 and $503 at September 30, 2014 and December 31, 2013, respectively 46,220 41,226
Accounts receivable (managed fleet) 8,619 10,646
Current portion of direct finance leases 17,466 12,998
Prepaid expenses 14,712 14,803
Other current assets 555 5,553
Total current assets 138,022 130,967
Restricted cash 8,488 9,253
Rental equipment, net of accumulated depreciation of $260,290 and $210,165 at September 30, 2014 and December 31, 2013, respectively 1,565,149 1,465,092
Net investment in direct finance leases 79,890 68,210
Furniture, fixtures and equipment, net of accumulated depreciation of $1,987 and $1,697 at September 30, 2014 and December 31, 2013, respectively 1,058 1,390
Intangible assets, net of accumulated amortization of $4,797 and $4,638 at September 30, 2014 and December 31, 2013, respectively 368 677
Total assets 1,792,975 [1] 1,675,589 [1]
Current liabilities    
Accounts payable 6,785 8,002
Accrued expenses and other current liabilities 8,641 6,230
Due to container investors 13,815 14,815
Unearned revenue 8,199 6,862
Current portion of debt 183,216 74,080
Current portion of capital lease obligations 1,215 1,921
Rental equipment payable 44,792 45,181
Total current liabilities 266,663 157,091
Debt 1,055,335 1,058,628
Deferred income tax liability 41,751 41,378
Capital lease obligations 1,817 3,366
Total liabilities 1,365,566 [2] 1,260,463 [2]
Stockholders' equity    
Common stock: par value $.0001 per share; authorized 84,000,000 shares; issued and outstanding 20,782,776 and 22,240,673 shares at September 30, 2014 and December 31, 2013, respectively 2 2
Additional paid-in capital 154,265 184,263
Accumulated other comprehensive loss (4,317) (2,356)
Retained earnings 276,735 232,623
Total CAI stockholders' equity 426,685 414,532
Non-controlling interest 724 594
Total stockholders' equity 427,409 415,126
Total liabilities and stockholders' equity $ 1,792,975 $ 1,675,589
[1] Total assets at September 30, 2014 and December 31, 2013 include the following assets of certain variable interest entities (VIEs) that can only be used to settle the liabilities of those VIEs: Cash, $31,402 and $14,600; Net investment in direct finance leases, $154 and $137; and Rental equipment net of accumulated depreciation, $101,893 and $84,107, respectively.
[2] Total liabilities at September 30, 2014 and December 31, 2013 include the following VIE liabilities for which the VIE creditors do not have recourse to CAI International, Inc.: Debt, $132,082 and $101,269, respectively.