Property and Equipment

6 Months Ended

Jun. 30, 2012

Property, Plant and Equipment [Abstract]

PROPERTY AND EQUIPMENT

The Company's property and equipment consists primarily of cargo aircraft, aircraft engines and flight equipment. Property and equipment, to be held and used, is summarized as follows (in thousands):



	June 30, 2012			December 31, 2011
Aircraft and flight equipment	$	1,073,054		$	1,012,000
Support equipment	51,499			51,297
Vehicles and other equipment	1,577			1,589
Leasehold improvements	754			714
	1,126,884			1,065,600
Accumulated depreciation	(348,771		)	(316,687		)
Property and equipment, net	$	778,113		$	748,913

CAM owned aircraft with a carrying value of $303.0 million and $316.4 million that were under leases to external customers as of June 30, 2012 and December 31, 2011, respectively.

The carrying value of Boeing 727 and DC-8 freighter aircraft and engines available for sale totaled $5.5 million as of June 30, 2012. Cash flows generated from sales of aircraft and engines totaled $2.5 million for the six month period ended June 30, 2012.

- Definition

The entire disclosure for long-lived, physical assets that are used in the normal conduct of business to produce goods and services and not intended for resale. Examples include land, buildings, machinery and equipment, and other types of furniture and equipment including, but not limited to, office equipment, furniture and fixtures, and computer equipment and software. This disclosure may include property plant and equipment accounting policies and methodology, a schedule of property, plant and equipment gross, additions, deletions, transfers and other changes, depreciation, depletion and amortization expense, net, accumulated depreciation, depletion and amortization expense and useful lives, income statement disclosures, assets held for sale and public utility disclosures.

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