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Property and Equipment
 12 Months Ended
Dec. 31, 2019
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,
2019
 
December 31,
2018
Flight equipment
$
2,598,113

 
$
2,340,840

Ground equipment
59,628

 
57,455

Leasehold improvements, facilities and office equipment
33,649

 
28,745

Aircraft modifications and projects in progress
220,827

 
74,449

 
2,912,217

 
2,501,489

Accumulated depreciation
(1,146,197
)
 
(946,484
)
Property and equipment, net
$
1,766,020

 
$
1,555,005


CAM owned aircraft with a carrying value of $889.3 million and $803.7 million that were under leases to external customers as of December 31, 2019 and 2018, respectively.