Property and Equipment

9 Months Ended

Sep. 30, 2016

Property, Plant and Equipment [Abstract]

Property and Equipment

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):

	September 30, 2016			December 31, 2015
Flight equipment	$	1,473,826		$	1,372,099
Ground equipment	42,042			36,593
Leasehold improvements, facilities and office equipment	26,459			25,327
Aircraft modifications and projects in progress	117,368			52,717
	1,659,695			1,486,736
Accumulated depreciation	(698,697		)	(611,335		)
Property and equipment, net	$	960,998		$	875,401

CAM owned aircraft with a carrying value of $446.8 million and $369.2 million that were under leases to external customers as of September 30, 2016 and December 31, 2015, respectively.