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Segment and Revenue Information
 6 Months Ended
Jun. 30, 2023
Segment Reporting [Abstract]  
Segment and Revenue Information SEGMENT AND REVENUE INFORMATIONThe Company operates in two reportable segments: CAM and ACMI Services. The CAM segment consists of the Company's aircraft and engine leasing operations. The ACMI Services segment consists of the Company's airline operations, including CMI agreements as well as ACMI, charter service and passenger service agreements that the Company has with its customers. The Company's aircraft maintenance services, aircraft modification services, ground services and other support services, are not large enough to constitute reportable segments and are combined in All other. Intersegment revenues are valued at arms-length market rates.
The Company's segment information from continuing operations is presented below (in thousands):
Three Months EndedSix Months Ended
 June 30,June 30,
 2023202220232022
Total revenues:
CAM$111,378 $109,674 $223,422 $216,579 
ACMI Services366,187 347,498 700,314 677,588 
All other110,789 107,879 221,377 210,414 
Eliminate inter-segment revenues(59,015)(55,383)(114,679)(109,053)
Total$529,339 $509,668 $1,030,434 $995,528 
Customer revenues:
CAM$84,194 $80,800 $167,352 $157,491 
ACMI Services366,179 347,478 700,292 677,562 
All other78,966 81,390 162,790 160,475 
Total$529,339 $509,668 $1,030,434 $995,528 
The Company's external customer revenues from other activities for the three and six month periods ended June 30, 2023, and 2022 are presented below (in thousands):
Three Months EndedSix Months Ended
June 30,June 30,
2023202220232022
Aircraft maintenance, modifications and part sales$39,165 $34,621 $81,238 $72,161 
Ground services24,987 26,970 48,652 52,071 
Other, including aviation fuel sales14,814 19,799 32,900 36,243 
Total customer revenues$78,966 $81,390 $162,790 $160,475 
During the three and six month periods ending June 30, 2023, the Company recognized $12.2 million and $6.5 million, respectively, of non-lease revenue that was reported as deferred revenue at the beginning of the applicable period, compared to $3.3 million and $3.9 million, respectively, for the comparable periods in the prior year. Current deferred revenue of $9.9 million and $17.0 million as of June 30, 2023 and December 31, 2022, respectively, for contracts with customers is derived from other activities as described above. Revenue related to deferred revenue will be recognized based on percentage of completion. Customers are required to pay deposits and may be required to make milestone payments for these services resulting in deferred revenue. Long-term contract assets were $0.7 million as of June 30, 2023 compared to $0.0 million as of December 31, 2022. Cash will be collected over the term of the multi-year agreement based on number cycles per period while revenue is recognized as parts are provided for engine maintenance services. This may result in a contract asset or liability based on the timing of engine maintenance services.
CAM's leases do not contain residual guarantees. Approximately 10% of CAM's leases to external customers contain purchase options at projected market values. As of June 30, 2023, minimum future payments from external customers for leased aircraft and equipment were scheduled to be $141.4 million for the remainder of 2023, and $247.3 million, $227.2 million, $203.5 million and $172.3 million, respectively, for each of the next four years ending December 31, 2027 and $313.9 million thereafter. CAM's external customer revenues for non-lease activities were $8.7 million and $15.4 million for the three and six month period ended June 30, 2023 for engine services and the sale of spare engine parts compared to $7.4 million and $17.3 million, respectively, during the comparable periods in the prior year.
The Company's other segment information from continuing operations is presented below (in thousands):
Three Months EndedSix Months Ended
 June 30,June 30,
 2023202220232022
Depreciation and amortization expense:
CAM$58,091 $56,421 $118,488 $112,712 
ACMI Services23,835 24,248 47,456 49,438 
All other765 703 1,475 1,293 
Total$82,691 $81,372 $167,419 $163,443 
Interest expense
CAM10,908 6,224 20,930 13,929 
ACMI Services5,058 2,648 10,016 6,026 
Segment earnings (loss):
CAM$31,020 $39,617 $65,220 $74,612 
ACMI Services24,054 21,837 21,643 44,002 
     All other(1,299)191 (645)1,742 
Net unallocated interest expense(526)(574)(1,036)(881)
Net gain (loss) on financial instruments1,818 6,011 78 8,707 
Other non-service components of retiree benefit costs, net(3,218)5,388 (6,436)10,776 
Loss from non-consolidated affiliate(2,107)(3,220)(2,513)(4,623)
Pre-tax earnings from continuing operations$49,742 $69,250 $76,311 $134,335 
The amortization of customer incentives included in revenue for CAM was $3.9 million and $8.9 million for the three and six month periods ended June 30, 2023, respectively, compared to $5.0 million and $10.1 million, respectively, for the corresponding periods in 2022. The amortization of customer incentives included in revenue for ACMI Services was $0.8 million and $1.6 million for the three and six month periods ended June 30, 2023, respectively, compared to $0.8 million and $1.6 million in the corresponding periods of 2022.
The Company's assets are presented below by segment (in thousands). Cash and cash equivalents are reflected in Assets - All other.
June 30,December 31,
 20232022
Assets:
CAM$2,743,731 $2,510,559 
ACMI Services839,091 921,522 
All other169,743 157,812 
Total$3,752,565 $3,589,893 
During the six months ended June 30, 2023, the Company had capital expenditures for property and equipment of $47.4 million and $363.5 million for the ACMI Services and CAM, respectively.