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Segment Information
 6 Months Ended
Jun. 30, 2012
Segment Reporting [Abstract]  
Segment Information
SEGMENT INFORMATION
The Company operates in two reportable segments, as described below. The CAM segment consists of the Company's aircraft leasing operations and its segment earnings includes an allocation of interest expense. The ACMI Services segment consists of the Company's airline operations including the CMI agreement with DHL, as well as ACMI and charter service agreements that the Company provides to other customers. Due to the similarities among
the Company's airline operations, the airline operations are aggregated into a single reportable segment, ACMI Services. The Company's other activities, which include contracts with the USPS, the sale of aircraft parts and maintenance services, management services for workers' compensation and logistics services, do not constitute reportable segments and are combined in “All other” with inter-segment profit eliminations. Inter-segment revenues are valued at arms-length, market rates. Cash, cash equivalents and deferred tax assets are reflected in Assets - All other below. The Company's segment information from continuing operations is presented below (in thousands):
 
Three Months Ending
 
Six Months Ending
 
June 30,
 
June 30,
 
2012
 
2011
 
2012
 
2011
Total revenues:
 
 
 
 
 
 
 
CAM
$
38,067

 
$
32,762

 
$
75,918

 
$
64,890

ACMI Services
121,630

 
164,709

 
234,825

 
311,414

All other
26,682

 
25,469

 
55,103

 
50,907

Eliminate inter-segment revenues
(32,825
)
 
(29,879
)
 
(66,786
)
 
(59,023
)
Total
$
153,554

 
$
193,061

 
$
299,060

 
$
368,188

Customer revenues:
 
 
 
 
 
 
 
CAM
$
18,635

 
$
15,824

 
$
38,024

 
$
29,895

ACMI Services
121,389

 
164,597

 
234,584

 
311,032

All other
13,530

 
12,640

 
26,452

 
27,261

Total
$
153,554

 
$
193,061

 
$
299,060

 
$
368,188

Depreciation and amortization expense:
 
 
 
 
 
 
 
CAM
$
14,680

 
$
13,663

 
$
29,101

 
$
25,926

ACMI Services
6,755

 
10,253

 
12,559

 
20,401

All other
79

 
(38
)
 
154

 
(78
)
Total
$
21,514

 
$
23,878

 
$
41,814

 
$
46,249

Segment earnings (loss):
 
 
 
 
 
 
 
CAM
$
16,667

 
$
13,634

 
$
33,485

 
$
27,100

ACMI Services
(1,582
)
 
4,560

 
(9,797
)
 
2,050

     All other
3,228

 
1,675

 
5,229

 
3,329

Net unallocated interest expense
(344
)
 
(572
)
 
(665
)
 
(1,790
)
Net gain (loss) on derivative instruments
202

 
376

 
662

 
(3,556
)
Write-off of unamortized debt issuance costs
—

 
(16
)
 
—

 
(2,886
)
Pre-tax earnings from continuing operations
$
18,171

 
$
19,657

 
$
28,914

 
$
24,247



The Company's assets are presented below by segment (in thousands):
 
June 30,
 
December 31,
 
2012
 
2011
Assets:
 
 
 
CAM
$
780,858

 
$
760,588

ACMI Services
153,557

 
137,640

All other
82,844

 
95,491

Total
$
1,017,259

 
$
993,719


Interest expense of $0.2 million and $0.5 million for the three and six month periods ending June 30, 2012, respectively, compared to $0.3 million and $0.6 million for the corresponding periods in 2011, respectively, was included in the ACMI Services segment earnings above. Interest expense allocated to CAM was $3.1 million and $6.0 million for the three and six month periods ending June 30, 2012, respectively, compared to $2.6 million and $5.1 million for the corresponding periods of 2011.