Property and Equipment

12 Months Ended

Dec. 31, 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):

	December 31, 2016			December 31, 2015
Flight equipment	$	1,541,872		$	1,372,099
Ground equipment	49,229			36,593
Leasehold improvements, facilities and office equipment	27,364			25,327
Aircraft modifications and projects in progress	113,518			52,717
	1,731,983			1,486,736
Accumulated depreciation	(730,991		)	(611,335		)
Property and equipment, net	$	1,000,992		$	875,401

CAM owned aircraft with a carrying value of $524.3 million and $369.2 million that were under leases to external customers as of December 31, 2016 and 2015, respectively. Minimum future lease payments for aircraft and equipment leased to external customers as of December 31, 2016 is scheduled to be $80.2 million, $77.6 million, $45.2 million, $28.5 million and $17.1 million for each of the next five years ending December 31, 2021.