Property and Equipment

12 Months Ended

Dec. 31, 2018

Property, Plant and Equipment [Abstract]

PROPERTY AND EQUIPMENT

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



	December 31, 2018			December 31, 2017
Flight equipment	$	2,340,840		$	1,801,808
Ground equipment	57,455			53,523
Leasehold improvements, facilities and office equipment	28,745			26,897
Aircraft modifications and projects in progress	74,449			121,760
	2,501,489			2,003,988
Accumulated depreciation	(946,484		)	(844,026		)
Property and equipment, net	$	1,555,005		$	1,159,962

CAM owned aircraft with a carrying value of $803.7 million and $697.4 million that were under leases to external customers as of December 31, 2018 and 2017, respectively. Minimum future payments from external customers for leased aircraft and equipment as of December 31, 2018 is scheduled to be $142.3 million, $127.1 million, $124.3 million, $121.2 million and $87.1 million for each of the next five years ending December 31, 2023.