Property and Equipment

3 Months Ended

Mar. 31, 2016

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):



	March 31, 2016			December 31, 2015
Flight equipment	$	1,400,787		$	1,372,099
Ground equipment	37,180			36,593
Leasehold improvements, facilities and office equipment	25,545			25,327
Aircraft modifications and projects in progress	87,069			52,717
	1,550,581			1,486,736
Accumulated depreciation	(635,743		)	(611,335		)
Property and equipment, net	$	914,838		$	875,401

CAM owned aircraft with a carrying value of $363.7 million and $369.2 million that were under leases to external customers as of March 31, 2016 and December 31, 2015, respectively.