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Insurance Receivable And Impairment
12 Months Ended
Dec. 31, 2016
Insurance Receivable And Impairment [Abstract]  
Insurance Receivable and Impairment

(3)Insurance Receivable and Impairment

In August 2016, Hanjin Shipping Co., Ltd. filed for court protection from its creditors. Based on prior experience, the Company believes that most of its containers will be recovered. The Company maintains insurance to cover the value of containers that are unlikely to be recovered from its customers, the cost to recover containers and up to 180 days of lost lease rental income, subject to a deductible of $2.0 million. During the year ended December 31, 2016, the Company estimated that containers with a book value of $3.2 million would not be recovered from Hanjin. An insurance receivable of $3.8 million was recorded for $1.2 million of estimated irrecoverable containers in excess of the insurance deductible, which was recorded in depreciation expense, and $2.6  million of recovery costs, which was recorded as a reduction to storage, handling and other expenses. In addition, bad debt expense of $2.5 million was recorded in the consolidated statement of income for the year ended December 31, 2016, to fully reserve for the customer’s outstanding accounts receivable.