XML 16 R2.htm IDEA: XBRL DOCUMENT v3.6.0.2
CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Dec. 31, 2016
Dec. 31, 2015
Current assets    
Accounts receivable, net of allowance for doubtful accounts of $1,340 and $548 at December 31, 2016 and 2015, respectively $ 63,745 $ 55,284 [1]
Current portion of direct finance leases 19,959 21,158 [1]
Prepaid expenses and other current assets 5,315 2,155 [1]
Total current assets 135,153 131,150 [1]
Restricted cash 6,192 7,212 [1]
Rental equipment, net of accumulated depreciation of $421,153 and $349,810 at December 31, 2016 and 2015, respectively 1,807,010 1,748,211 [1]
Net investment in direct finance leases 80,582 82,210 [1]
Goodwill [2] 15,794 2,905 [1]
Intangible assets, net of accumulated amortization of $2,681 and $1,237 at December 31, 2016 and 2015, respectively 9,691 1,223 [1]
Furniture, fixtures and equipment, net of accumulated depreciation of $2,833 and $2,027 at December 31, 2016 and 2015, respectively 550 674 [1]
Other non-current assets 962  
Total assets [2],[3] 2,055,934 1,973,585 [1]
Current liabilities    
Accounts payable 13,804 11,962 [1]
Accrued expenses and other current liabilities 11,778 4,813 [1]
Due to container investors 7,077 5,801 [1]
Unearned revenue 10,613 11,990 [1]
Current portion of debt 95,527 169,249 [1]
Rental equipment payable 25,207 10,901 [1]
Total current liabilities 164,006 214,716 [1]
Debt 1,380,499 1,250,560 [1]
Deferred income tax liability 51,804 48,204 [1]
Other long term liabilities 2,121  
Total liabilities [4] 1,598,430 1,513,480 [1]
Stockholders' equity    
Common stock: par value $.0001 per share; authorized 84,000,000 shares; issued and outstanding 19,057,217 and 20,132,706 shares at December 31, 2016 and 2015, respectively 2 2 [1]
Additional paid-in capital 141,058 148,523 [1]
Accumulated other comprehensive loss (8,132) (7,922) [1]
Retained earnings 324,576 318,579 [1]
Total CAI stockholders' equity 457,504 459,182 [1]
Non-controlling interest [1]   923
Total stockholders' equity 457,504 460,105 [1]
Total liabilities and stockholders' equity 2,055,934 1,973,585 [1]
Consolidated Entity Excluding Variable Interest Entities (VIE) [Member]    
Current assets    
Cash 15,685 17,447 [1]
Variable Interest Entity, Primary Beneficiary [Member]    
Current assets    
Cash 30,449 35,106 [1]
Rental equipment, net of accumulated depreciation of $421,153 and $349,810 at December 31, 2016 and 2015, respectively 62,477 85,101
Net investment in direct finance leases 7,331 1,915
Current liabilities    
Current portion of debt 30,980 60,382
Debt $ 74,887 $ 59,445
[1] Amounts for the year ended December 31, 2015 have been restated for immaterial corrections of identified errors relating to prepaid loan fees (see Note 2 (b) "Correction of Immaterial Errors").
[2] Amounts for the years ended December 31, 2015 and 2014 have been restated for immaterial corrections of identified errors relating to prepaid loan fees (see Note 2 (b) "Correction of Immaterial Errors").
[3] Total assets at December 31, 2016 and December 31, 2015 include the following assets of certain variable interest entities (VIEs) that can only be used to settle the liabilities of those VIEs: Cash, $30,449 and $35,106; Net investment in direct finance leases, $7,331 and $1,915; and Rental equipment net of accumulated depreciation, $62,477 and $85,101, respectively.
[4] Total liabilities at December 31, 2016 and December 31, 2015 include the following VIE liabilities for which the VIE creditors do not have recourse to CAI International, Inc.: Current portion of debt, $30,980 and $60,382; Debt, $74,887 and $59,445, respectively.