XML 13 R4.htm IDEA: XBRL DOCUMENT v3.20.2
CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Sep. 30, 2020
Sep. 30, 2019
Revenue        
Total revenue $ 79,052 $ 81,406 $ 229,693 $ 245,546
Operating expenses        
Depreciation of rental equipment 30,428 28,030 86,322 89,629
Impairment of rental equipment   25,632 19,724 32,955
Storage, handling and other expenses 6,686 8,125 18,908 18,444
Gain on sale of rental equipment (2,729) (3,168) (6,451) (12,265)
Administrative expenses 6,388 9,278 21,441 26,501
Total operating expenses 40,773 67,897 139,944 155,264
Operating income 38,279 13,509 89,749 90,282
Other expenses        
Net interest expense 16,630 23,102 54,604 70,165
Write-off of debt issuance costs 3,641   3,641  
Other (income) expense (306) 380 (157) 537
Total other expenses 19,965 23,482 58,088 70,702
Income (loss) before income taxes 18,314 (9,973) 31,661 19,580
Income tax expense (benefit) 1,349 (4,830) (594) (2,098)
Income (loss) from continuing operations 16,965 (5,143) 32,255 21,678
Loss from discontinued operations, net of income taxes (1,522) (636) (18,768) (3,389)
Net income (loss) 15,443 (5,779) 13,487 18,289
Preferred stock dividends 2,207 2,207 6,621 6,621
Net income (loss) attributable to CAI common stockholders 13,236 (7,986) 6,866 11,668
Amounts attributable to CAI common stockholders        
Net income (loss) from continuing operations 14,758 (7,350) 25,634 15,057
Net loss from discontinued operations $ (1,522) $ (636) $ (18,768) $ (3,389)
Basic        
Continuing operations $ 0.84 $ (0.42) $ 1.47 $ 0.84
Discontinued operations (0.09) (0.04) (1.08) (0.19)
Total basic 0.75 (0.46) 0.39 0.65
Diluted        
Continuing operations 0.83 (0.42) 1.45 0.83
Discontinued operations (0.08) (0.04) (1.06) (0.19)
Total diluted $ 0.75 $ (0.46) $ 0.39 $ 0.64
Weighted average shares outstanding        
Basic 17,570 17,330 17,491 17,850
Diluted 17,706 17,330 17,664 18,122
Container Lease Revenue [Member]        
Revenue        
Total revenue $ 73,890 $ 75,535 $ 212,446 $ 225,332
Rail Lease Revenue [Member]        
Revenue        
Total revenue $ 5,162 $ 5,871 $ 17,247 $ 20,214