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CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Mar. 31, 2018
Dec. 31, 2017
Current assets    
Accounts receivable, net of allowance for doubtful accounts of $1,717 and $1,440 at March 31, 2018 and December 31, 2017, respectively $ 67,703 $ 68,324
Current portion of net investment in direct finance leases 35,135 30,063
Prepaid expenses and other current assets 4,057 4,258
Total current assets 151,224 138,065
Restricted cash 21,742 11,789
Rental equipment, net of accumulated depreciation of $529,866 and $505,546 at March 31, 2018 and December 31, 2017, respectively 2,106,515 2,004,961
Net investment in direct finance leases 249,665 246,450
Goodwill 15,794 15,794
Intangible assets, net of accumulated amortization of $3,951 and $3,407 at March 31, 2018 and December 31, 2017, respectively 7,179 7,723
Furniture, fixtures and equipment, net of accumulated depreciation of $3,246 and $3,201 at March 31, 2018 and December 31, 2017, respectively 365 338
Other non-current assets 2,647 3,008
Total assets [1] 2,555,131 2,428,128
Current liabilities    
Accounts payable 6,845 7,831
Accrued expenses and other current liabilities 11,245 15,706
Due to container investors 387 1,845
Unearned revenue 7,248 7,811
Current portion of debt 168,928 132,049
Rental equipment payable 133,714 92,415
Total current liabilities 328,367 257,657
Debt 1,567,339 1,570,773
Deferred income tax liability 36,605 35,853
Total liabilities [2] 1,932,311 1,864,283
Stockholders' equity    
8.50% Series A fixed-to-floating rate cumulative redeemable perpetual preferred stock: par value $.0001 per share; authorized 4,000,000 shares; issued and outstanding 1,600,000 and 0 shares at March 31, 2018 and December 31, 2017, respectively ($40,000 aggregate liquidation preference)
Common stock: par value $.0001 per share; authorized 84,000,000 shares; issued and outstanding 20,492,519 and 20,390,622 shares at March 31, 2018 and December 31, 2017, respectively 2 2
Additional paid-in capital 213,873 172,325
Accumulated other comprehensive loss (5,812) (6,122)
Retained earnings 414,757 397,640
Total stockholders' equity 622,820 563,845
Total liabilities and stockholders' equity 2,555,131 2,428,128
Consolidated Entity Excluding Variable Interest Entities (VIE) [Member]    
Current assets    
Cash 21,564 14,735
Variable Interest Entity, Primary Beneficiary [Member]    
Current assets    
Cash 22,765 20,685
Rental equipment, net of accumulated depreciation of $529,866 and $505,546 at March 31, 2018 and December 31, 2017, respectively 61,920 61,842
Net investment in direct finance leases 7,052 4,423
Current liabilities    
Current portion of debt 25,448 22,549
Debt $ 72,447 $ 72,727
[1] Total assets at March 31, 2018 and December 31, 2017 include the following assets of certain variable interest entities (VIEs) that can only be used to settle the liabilities of those VIEs: Cash, $22,765 and $20,685; Net investment in direct finance leases, $7,052 and $4,423; and Rental equipment, net of accumulated depreciation, $61,920 and $61,842, respectively.
[2] Total liabilities at March 31, 2018 and December 31, 2017 include the following VIE liabilities for which the VIE creditors do not have recourse to CAI International, Inc.: Current portion of debt, $25,448 and $22,549; Debt, $72,447 and $72,727, respectively.