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CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Jun. 30, 2015
Dec. 31, 2014
Current assets    
Cash $ 20,271 $ 27,810
Cash held by variable interest entities 40,859 26,011
Accounts receivable (owned fleet), net of allowance for doubtful accounts of $896 and $680 at June 30, 2015 and December 31, 2014, respectively 48,172 49,524
Accounts receivable (managed fleet) 7,348 8,498
Current portion of direct finance leases 20,288 18,150
Prepaid expenses 17,404 14,806
Total current assets 154,342 144,799
Restricted cash 7,723 8,232
Rental equipment, net of accumulated depreciation of $311,726 and $274,333 at June 30, 2015 and December 31, 2014, respectively 1,721,187 1,564,777
Net investment in direct finance leases 82,288 76,814
Furniture, fixtures and equipment, net of accumulated depreciation of $2,232 and $2,019 at June 30, 2015 and December 31, 2014, respectively 780 945
Intangible assets, net of accumulated amortization of $4,807 and $4,817 at June 30, 2015 and December 31, 2014, respectively 137 273
Total assets [1] 1,966,457 1,795,840
Current liabilities    
Accounts payable 6,722 8,414
Accrued expenses and other current liabilities 8,116 9,029
Due to container investors 8,791 12,984
Unearned revenue 10,352 7,172
Current portion of debt 231,181 203,199
Current portion of capital lease obligations 92 1,015
Rental equipment payable 17,999 7,381
Total current liabilities 283,253 249,194
Debt 1,165,324 1,058,754
Deferred income tax liability 43,848 43,419
Capital lease obligations   1,568
Total liabilities [2] 1,492,425 1,352,935
Stockholders' equity    
Common stock: par value $.0001 per share; authorized 84,000,000 shares; issued and outstanding 21,201,743 and 20,788,277 shares at June 30, 2015 and December 31, 2014, respectively 2 2
Additional paid-in capital 161,481 154,894
Accumulated other comprehensive loss (7,638) (5,677)
Retained earnings 319,328 292,897
Total CAI stockholders' equity 473,173 442,116
Non-controlling interest 859 789
Total stockholders' equity 474,032 442,905
Total liabilities and stockholders' equity $ 1,966,457 $ 1,795,840
[1] Total assets at June 30, 2015 and December 31, 2014 include the following assets of certain variable interest entities (VIEs) that can only be used to settle the liabilities of those VIEs: Cash, $40,859 and $26,011; Net investment in direct finance leases, $323 and $156; and Rental equipment, net of accumulated depreciation, $98,081 and $102,100, respectively.
[2] Total liabilities at June 30, 2015 and December 31, 2014 include the following VIE liabilities for which the VIE creditors do not have recourse to CAI International, Inc.: Current portion of debt, $80,201 and none; Debt, $64,029 and $132,419, respectively.