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Property and Equipment
12 Months Ended
Dec. 31, 2023
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,
2023
December 31,
2022
Flight equipment$3,865,049 $3,506,134 
Ground equipment72,463 70,092 
Leasehold improvements, facilities and office equipment42,120 40,183 
Aircraft modifications and projects in progress638,631 445,633 
4,618,263 4,062,042 
Accumulated depreciation(1,797,494)(1,659,634)
Property and equipment, net$2,820,769 $2,402,408 
CAM owned aircraft with a carrying value of $1,640.9 million and $1,474.6 million that were under lease to external customers as of December 31, 2023 and 2022, respectively.