Commitments And Contingencies

9 Months Ended

Sep. 30, 2016

Commitments And Contingencies [Abstract]

Commitments And Contingencies

CAI INTERNATIONAL, INC.

NOTES TO UNAUDITED CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED)

(13)Commitments and Contingencies

In addition to its debt obligations described in Note 9 above, the Company had commitments to purchase approximately $204.7 million of rental equipment as of September 30, 2016; $159.2 million in the twelve months ending September 30, 2017, $32.1 million in the twelve months ending September 30, 2018, and $13.4 million in the twelve months ending September 30, 2019. The Company also utilizes certain office facilities and equipment under long-term non-cancellable operating lease agreements with total future minimum lease payments of approximately $2.3 million as of September 30, 2016.

On October 21, 2016, the Company entered into an amendment to its multi-year rail car order dated June 29, 2015, by which it modified the types of railcars yet to be delivered as of the effective date of the amendment, reduced the overall baseline pricing and revised the amounts and delivery dates for various car types. These changes are estimated to reduce the commitments noted above by approximately $10.0 million.