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Segment Information
3 Months Ended
Mar. 31, 2014
Segment Reporting [Abstract]  
Segment Information
SEGMENT INFORMATION
The Company operates in two reportable segments. 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 has with 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, facility and ground equipment maintenance services and management services for workers' compensation 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 March 31,
 
2014
 
2013
Total revenues:
 
 
 
CAM
$
40,635

 
$
38,969

ACMI Services
108,596

 
113,051

All other
26,808

 
26,254

Eliminate inter-segment revenues
(32,446
)
 
(34,995
)
Total
$
143,593

 
$
143,279

Customer revenues:
 
 
 
CAM
$
18,413

 
$
18,336

ACMI Services
108,596

 
111,315

All other
16,584

 
13,628

Total
$
143,593

 
$
143,279

Depreciation and amortization expense:
 
 
 
CAM
$
18,345

 
$
14,516

ACMI Services
6,835

 
6,138

All other
(201
)
 
266

Total
$
24,979

 
$
20,920

Segment earnings (loss):
 
 
 
CAM
$
14,440

 
$
16,873

ACMI Services
(7,046
)
 
(5,404
)
     All other
3,017

 
2,181

Net unallocated interest expense
(379
)
 
(348
)
Net gain (loss) on derivative instruments
299

 
290

Pre-tax earnings from continuing operations
$
10,331

 
$
13,592


The Company's assets are presented below by segment (in thousands):
 
March 31,
 
December 31,
 
2014
 
2013
Assets:
 
 
 
CAM
$
792,220

 
$
808,987

ACMI Services
146,065

 
141,664

Discontinued operations
623

 
294

All other
89,137

 
82,194

Total
$
1,028,045

 
$
1,033,139


Interest expense of $0.1 million and $0.2 million for the three month periods ending March 31, 2014 and 2013, respectively, was reimbursed through the commercial agreements with DHL and included in the ACMI Services segment earnings above. Interest expense allocated to CAM was $3.3 million and $2.6 million for the three month periods ending March 31, 2014 and 2013, respectively.