CAI International (CAI) 10-Q 20 Oct 17 2017 Q3 Quarterly report Financial data

Document And Entity Information

Document And Entity Information	9 Months Ended
	Sep. 30, 2017shares
Document And Entity Information [Abstract]
Entity Registrant Name	CAI International, Inc.
Entity Filer Category	Accelerated Filer
Entity Central Index Key	1,388,430
Amendment Flag	false
Document Type	10-Q
Document Fiscal Period Focus	Q3
Trading Symbol	cai
Document Period End Date	Sep. 30, 2017
Document Fiscal Year Focus	2,017
Current Fiscal Year End Date	--12-31
Entity Common Stock, Shares Outstanding	19,268,083

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands		Sep. 30, 2017	Dec. 31, 2016
Current assets
Accounts receivable, net of allowance for doubtful accounts of $1,636 and $1,340 at September 30, 2017 and December 31, 2016, respectively		$ 69,478	$ 63,745
Current portion of net investment in direct finance leases		27,947	19,959
Prepaid expenses and other current assets		5,016	5,315
Total current assets		137,394	135,153
Restricted cash		12,217	6,192
Rental equipment, net of accumulated depreciation of $484,428 and $421,153 at September 30, 2017 and December 31, 2016, respectively		1,979,012	1,807,010
Net investment in direct finance leases		199,994	80,582
Goodwill		15,794	15,794
Intangible assets, net of accumulated amortization of $2,975 and $2,681 at September 30, 2017 and December 31, 2016, respectively		8,156	9,691
Furniture, fixtures and equipment, net of accumulated depreciation of $3,131 and $2,833 at September 30, 2017 and December 31, 2016, respectively		370	550
Other non-current assets		3,220	962
Total assets	[1]	2,356,157	2,055,934
Current liabilities
Accounts payable		6,320	13,804
Accrued expenses and other current liabilities		13,540	11,778
Due to container investors		4,119	7,077
Unearned revenue		8,361	10,613
Current portion of debt		133,322	95,527
Rental equipment payable		190,180	25,207
Total current liabilities		355,842	164,006
Debt		1,450,588	1,380,499
Deferred income tax liability		51,193	51,804
Other long term liabilities			2,121
Total liabilities	[2]	1,857,623	1,598,430
Stockholders' equity
Common stock: par value $.0001 per share; authorized 84,000,000 shares; issued and outstanding 19,268,083 and 19,057,217 shares at September 30, 2017 and December 31, 2016, respectively		2	2
Additional paid-in capital		143,845	141,058
Accumulated other comprehensive loss		(6,390)	(8,132)
Retained earnings		361,077	324,576
Total stockholders' equity		498,534	457,504
Total liabilities and stockholders' equity		2,356,157	2,055,934
Consolidated Entity Excluding Variable Interest Entities (VIE) [Member]
Current assets
Cash		12,508	15,685
Variable Interest Entity, Primary Beneficiary [Member]
Current assets
Cash		22,445	30,449
Rental equipment, net of accumulated depreciation of $484,428 and $421,153 at September 30, 2017 and December 31, 2016, respectively		58,075	62,477
Net investment in direct finance leases		4,423	7,331
Current liabilities
Current portion of debt		23,365	30,980
Debt		$ 71,086	$ 74,887
[1]	Total assets at September 30, 2017 and December 31, 2016 include the following assets of certain variable interest entities (VIEs) that can only be used to settle the liabilities of those VIEs: Cash, $22,445 and $30,449; Net investment in direct finance leases, $4,423 and $7,331; and Rental equipment, net of accumulated depreciation, $58,075 and $62,477, respectively.
[2]	Total liabilities at September 30, 2017 and December 31, 2016 include the following VIE liabilities for which the VIE creditors do not have recourse to CAI International, Inc.: Current portion of debt, $23,365 and $30,980; Debt, $71,086 and $74,887, respectively.

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Sep. 30, 2017	Dec. 31, 2016
Current assets
Accounts receivable, allowance for doubtful accounts	$ 1,636	$ 1,340
Rental equipment net of accumulated depreciation	1,979,012	1,807,010
Rental equipment, accumulated depreciation	484,428	421,153
Net investment in direct finance leases	199,994	80,582
Intangible assets, accumulated amortization	2,974	2,681
Furniture, fixtures and equipment, accumulated depreciation	3,131	2,833
Current liabilities
Current portion of debt	133,322	95,527
Debt	$ 1,450,588	$ 1,380,499
Stockholders' equity
Common stock, par value	$ 0.0001	$ 0.0001
Common stock, shares authorized	84,000,000	84,000,000
Common stock, shares issued	19,268,083	19,057,217
Common stock, shares outstanding	19,268,083	19,057,217
Variable Interest Entity, Primary Beneficiary [Member]
Current assets
Cash	$ 22,445	$ 30,449
Rental equipment net of accumulated depreciation	58,075	62,477
Net investment in direct finance leases	4,423	7,331
Current liabilities
Current portion of debt	23,365	30,980
Debt	$ 71,086	$ 74,887

CONSOLIDATED STATEMENTS OF INCO

CONSOLIDATED STATEMENTS OF INCOME - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Revenue
Container lease income	$ 61,870	$ 49,661	$ 169,784	$ 152,875
Rail lease income	7,279	7,614	23,459	22,462
Logistics revenue	21,012	21,197	61,116	41,743
Total revenue	90,161	78,472	254,359	217,080
Operating expenses
Depreciation of rental equipment	27,788	29,873	82,814	77,401
Storage, handling and other expenses	3,506	8,802	16,651	27,176
Logistics transportation costs	17,855	18,045	51,608	35,127
(Gain) loss on sale of used rental equipment	(1,663)	3,323	(2,539)	7,950
Administrative expenses	10,781	11,067	31,212	28,750
Total operating expenses	58,267	71,110	179,746	176,404
Operating income	31,894	7,362	74,613	40,676
Other expenses
Net interest expense	13,959	10,902	37,916	31,535
Other expense	449	85	651	407
Total other expenses	14,408	10,987	38,567	31,942
Income (loss) before income taxes and non-controlling interest	17,486	(3,625)	36,046	8,734
Income tax (benefit) expense	(101)	1,826	549	3,320
Net income (loss)	17,587	(5,451)	35,497	5,414
Net income attributable to non-controlling interest				37
Net income (loss) attributable to CAI common stockholders	$ 17,587	$ (5,451)	$ 35,497	$ 5,377
Net income (loss) per share attributable to CAI common stockholders
Basic	$ 0.92	$ (0.28)	$ 1.86	$ 0.28
Diluted	$ 0.90	$ (0.28)	$ 1.83	$ 0.28
Weighted average shares outstanding
Basic	19,180	19,130	19,108	19,427
Diluted	19,633	19,130	19,422	19,498

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME [Abstract]
Net income (loss)	$ 17,587	$ (5,451)	$ 35,497	$ 5,414
Other comprehensive income, net of tax:
Foreign currency translation adjustments	698	137	1,742	1,047
Comprehensive income (loss)	18,285	(5,314)	37,239	6,461
Comprehensive income attributable to non-controlling interest				37
Comprehensive income (loss) attributable to CAI common stockholders	$ 18,285	$ (5,314)	$ 37,239	$ 6,424

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands		9 Months Ended
		Sep. 30, 2017	Sep. 30, 2016
Cash flows from operating activities
Net income		$ 35,497	$ 5,414
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation		83,088	77,636
Amortization of debt issuance costs		2,400	2,217
Amortization of intangible assets		1,536	682
Stock-based compensation expense		1,539	1,320
Reduction in contingent consideration		(2,211)	(1,000)
Unrealized loss on foreign exchange		42	82
(Gain) loss on sale of used rental equipment		(2,539)	7,950
Loss on disposal of subsidiary			146
Deferred income taxes		393	2,193
Bad debt expense		750	2,458
Changes in other operating assets and liabilities:
Accounts receivable		(6,280)	(7,560)
Prepaid expenses and other assets		(72)	(191)
Accounts payable, accrued expenses and other current liabilities		(5,887)	1,540
Due to container investors		(2,958)	(32)
Unearned revenue		(540)	1,013
Net cash provided by operating activities		104,758	93,868
Cash flows from investing activities
Purchase of rental equipment	[1]	(277,769)	(170,582)
Acquisitions, net of cash acquired			(15,620)
Proceeds from sale of used rental equipment		48,863	46,137
Disposal of subsidiary, net of cash disposed of			(460)
Purchase of furniture, fixtures and equipment		(91)	(92)
Receipt of principal payments from direct financing leases		12,362	17,368
Net cash used in investing activities		(216,635)	(123,249)
Cash flows from financing activities
Proceeds from debt		556,544	432,540
Principal payments on debt		(448,436)	(408,375)
Debt issuance costs		(3,129)	(1,461)
(Increase) decrease in restricted cash		(6,025)	765
Repurchase of stock			(9,176)
Exercise of stock options		1,362
Net cash provided by financing activities		100,316	14,293
Effect on cash of foreign currency translation		380	1
Net decrease in cash		(11,181)	(15,087)
Cash at beginning of the period		46,134	52,553
Cash at end of the period		34,953	37,466
Cash paid during the period for:
Income taxes		174	752
Interest		35,014	29,617
Supplemental disclosure of non-cash investing and financing activity
Transfer of rental equipment to direct finance lease		144,907	$ 14,816
Transfer of direct finance lease to rental equipment		$ 291
[1]	Represents cash disbursements for purchasing of rental equipment as reflected in the consolidated statements of cash flows for the periods indicated.

The Company And Nature Of Opera

The Company And Nature Of Operations	9 Months Ended
	Sep. 30, 2017
The Company And Nature Of Operations [Abstract]
The Company And Nature Of Operations	(1 ) The Company and Nature of Operations Organization CAI International, Inc. , together with its subsidiaries (collectively, CAI or the Company) , is a transportation finance and logistics company. The Company purchases equipment, primarily intermodal shipping containers and railcars, which it leases to its customers . The Company also manages equipment for third-party investors. In operating its fleet, the Company leases, re-leases and disposes of equipment and contracts for the repair, repositioning and storage of equipment. The Company also provides domestic and international logistics services . In February 2016, the Company purchased Challenger Overseas LLC (Challenger), a Non-Vessel Operating Common Carrier, for approximately $10.8 million. Challenger is headquartered in Eatontown, New Jersey. In June 2016, the Company purchased Hybrid Logistics, Inc. and its affiliate, General Transportation Services, Inc. (collectively, Hybrid), asset light truck brokers, for approximately $12.0 million. Hybrid is headquartered in Portland, Oregon. The Company’s common stock is traded on the New York Stock Exchange under the symbol “CAI.” The Company’s corporate headquarters are located in San Francisco, California. Basis of Presentation The accompanying unaudited consolidated financial statements include the financial statements of CAI International, Inc. , its wholly-owned subsidiaries, and its previously 80% -owned subsidiary, CAIJ, Inc. (CAIJ) , up to its date of disposal in April 2016 . All significant intercompany balances and transactions have been eliminated in consolidation. In the opinion of management, the accompanying unaudited consolidated financial statements contain all normal, recurring adjustments necessary to present fairly the Company’s financial position as of September 30, 2017 and December 31, 201 6 , the Company’s results of operations for the three and nine months ended September 30, 2017 and 2016, and the Company’s cash flows for the nine months ended September 30, 2017 and 2016 . The results of operations and cash flows for the periods presented are not necessarily indicative of the results of operations or cash flows which may be reported for the remainder of 201 7 or in any future period. Certain information and footnote disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States of America (U.S. GAAP) h ave been condensed or omitted. The accompanying unaudited interim consolidated financial statements should be read in conjunction with the audited consolidated financial statements and notes thereto for the year ended December 31, 201 6 , included in the Company’s Annual Report on Form 10-K filed with the Securities and Exchange Commission (SEC) on March 13, 2017 .

Accounting Policies And Recent

Accounting Policies And Recent Accounting Pronouncements	9 Months Ended
	Sep. 30, 2017
Accounting Policies And Recent Accounting Pronouncements [Abstract]
Accounting Policies And Recent Accounting Pronouncements	(2) Accounting Policies and Recent Accounting Pronouncements Accounting Policies Container rental equipment is recorded at original cost and depreciated to an estimated residual value on a straight-line basis over its estimated useful life. The estimated useful lives and residual values of the Company’s container equipment are based on historical disposal experience and the Company’s expectations for future used container sale prices. Depreciation estimates are reviewed on a regular basis to determine whether sustained changes have taken place in the useful lives of equipment or assigned residual values, which would suggest that a change in depreciation estimates is warranted. After the Company conducted its regular depreciation policy review for 2016, it concluded that a change in the estimated residual value for 40-foot high cube dry van containers from $1,650 to $1,400 per container, effective July 1, 2016, was appropriate. The change increased the Company’s depreciation expense by $4.4 million, decreased net income by $4.3 million, and decreased diluted earnings per share by $0.22, for the nine months ended September 30 , 2017. The Company continuously monitors disposal prices across its entire portfolio for indications of a sustained market downturn. The Company will adjust its residual value estimates as and when conditions warrant. Except as described below in “Recent Accounting Pronouncements , ” there were no changes to the Company’s accounting policies during the nine months ended September 30 , 2017 . See Note 2 to the consolidated financial statements in the Company’s Annual Report on Form 10-K for the year ended December 31, 2016, filed with the SEC on March 13, 2017, for a description of the Company’s significant accounting policies. CAI INTERNATIONAL, INC. NOTES TO UNAUDITED CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED)  Recent Accounting Pronouncements In March 2016, the F inancial A ccounting S tandards B oard (FASB) issued Accounting Standards Update (ASU) No. 2016-09, Improvements to Employee Share-Based Payment Accounting (ASU 2016-09) . The new standard simplifies certain aspects of the accounting for share-based payment transactions, including income taxes, classification of awards and classification on the statement of cash flows. The new guidance also allows an entity to make a policy election to account for forfeitures as they occur. The Company adopted ASU 2016-09 effective January 1, 2017. Accordingly, excess tax benefits or deficiencies from stock-based compensation are now reflected in the consolidated statements of income as a component of the provision for income taxes, whereas they were previously recognized in equity. As a result of the adoption of ASU 2016-09, the Company recognized $1.0 million in deferred tax assets associated with excess tax benefits not previously recognized in deferred taxes as a cumulative-effect adjustment to retained earnings as of January 1, 2017. Adoption of the new standard did not have a material impact on our provision for income taxes for the three and nine months ended September 30 , 2017. The Company elected to apply the change in presentation to the statements of cash flows prospectively and elected to account for forfeitures as they occur, rather than estimate expected forfeitures, which did not have a material impact on the Company’s consolidated financial statements .

Insurance Receivable And Impair

Insurance Receivable And Impairment	9 Months Ended
	Sep. 30, 2017
Insurance Receivable And Impairment [Abstract]
Insurance Receivable and Impairment	( 3 ) Insurance Receivable and Impairment In August 2016, Hanjin Shipping Co., Ltd. (Hanjin) filed for bankruptcy protection from its creditors. Based on the recovery of Hanjin containers to date and prior experience, the Company believes that most of its containers will be recovered. As of September 30 , 2017, the Company has recovered approximately 92% of the containers that were on lease to Hanjin. The Company maintains insurance to cover the value of containers that are unlikely to be recovered from its customers, the cost to recover and repair containers, and up to 180 days of lost lease rental income, subject to deductibles of $0.5 million and $2.0 million. During the year ended December 31, 2016, the Company recorded an impairment of $3.2 million representing the book value of containers the Company estimated would not be recovered from Hanjin. As of December 31, 2016, an insurance receivable of $3.8 million was recorded for $1.2 million of estimated unrecoverable containers in excess of the insurance deductible, which was recorded in depreciation expense, and $2.6 million of recovery costs, which was recorded as a reduction to storage, handling and other expenses for the year ended December 31, 2016. During the nine months ended September 30, 2017, the Company recorded an additional insurance receivable of $7.4 million for $2.2 million of lost lease rental income, recognized as container lease income , and $1.5 million of repair costs and $3.7 million of recovery costs, recorded as a reduction to storage, handling and other expenses. The Company also received insurance proceeds of $8.0 million , which was recorded as a reduction to the insurance receivable. As of September 30 , 2017, the insurance receivable related to this customer was $3.2 million , of which payment of $1.5 million was received in October 2017 . 

Consolidation Of Variable Inter

Consolidation Of Variable Interest Entities	9 Months Ended
	Sep. 30, 2017
Consolidation Of Variable Interest Entities [Abstract]
Consolidation Of Variable Interest Entities	(4 ) Consolidation of Variable Interest Entities The Company regularly performs a review of its container fund arrangements with investors to determine whether or not it has a variable interest in the fund and if the fund is a variable interest entity ( VIE ). If it is determined that the Company does not have a variable interest in the fund, further analysis is not required and the Company does not consolidate the fund. If it is determined that the Company does have a variable interest in the fund and the fund is a VIE, a further analysis is performed to determine if the Company is a primary beneficiary of the VIE and meets both of the following criteria under FASB ASC Topic 810: · i t has power to direct the activities of a VIE that most significantly impact the VIE ’s economic performance; and · i t has the obligation to absorb losses of the VIE that could be potentially significant to the VIE or the right to receive benefits from the VIE that could potentially be significant to the VIE. If in the Company’s judgment both of the above criteria are met, the VIE’s financial statements are included in the Company’s consolidated financial statements as required under FASB ASC Topic 810, Consolidation . The Company currently enters into two types of container fund arrangements with investors which are reviewed under FASB ASC Topic 810, Consolidation . These arrangements include container funds that the Company manages for investors and container funds that have entered into financing arrangements with investors . Several of the funds that the Company manages and funds under financing arrangements are Japanese container funds that were established under separate investment agreements allowed under Japan ese commercial laws (see Note 14 ). Each of the funds is financed by unrelated Japanese third - party investors. Managed Container Funds The fees earned by the Company for arranging, managing and establishing container funds are commensurate with the level of effort required to provide those services, and are at or above the same level of seniority as other operating liabilities of the funds that are incurred in the normal course of business. As such, the Company does not have a variable interest in the managed containers funds , and does not consolidate those funds. The Company recognizes gain on sale of containers to the unconsolidated funds as sales in the ordinary course of business. No container portfolios were sold to the Japanese funds in the three and nine months ended September 30 , 2017 and 2016 . CAI INTERNATIONAL, INC. NOTES TO UNAUDITED CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED)  Collateralized Financing Obligations The Company has transferred containers to Japanese investor funds while concurrently entering into lease agreements for the same containers, un der which the Company leases the containers back from the Japanese investors. In accordance with FASB ASC Topic 840, Sale-Leaseback Transactions, the Company concluded these were financing transactions under which sale-leaseback accounting was not applicable. The terms of the transactions with container funds under financing arrangements include options for the Company to purchase the containers from the funds at a fixed price. As a result of the residual interest resulting from the fixed price call option, the Company concluded that it may absorb a significant amount of the variability associated with the funds’ anticipated economic performance and, as a result, the Company has a variable interest in the funds. The funds are considered VIEs under FASB ASC Topic 810, Consolidation , because, as lessee of the funds, the Company has the power to direct the activities that most significantly impact each entity’s economic performance , including the leasing and managing of containers owned by the funds. As the Company has the power to direct the activities that most significantly impact the economic performance of the VIEs and the variable interest provides the Company with the right to receive benefits from the entity that could potentially be significant to the funds, the Company determined that it is the primary beneficiary of these VIEs and included the VIEs’ assets and liabilities as of September 30, 2017 , and December 31, 201 6 , and the results of the VIEs’ operations and cash flows for the three and nine months ended September 30, 2017 and 2016 , in the Company’s consolidated financial statements. The containers that were transferred to the Japanese investor funds had a net book value of $66.1 million as of September 30, 2017 . The container equipment, together with $22.4 million of cash held by the investor funds that can only be used to settle the liabilities of the VIEs , has been included on the Company’s consolidated balance sheets with the related liability presented in the debt section of the Company’s consolidated balance sheets as collateralized financing obligations of $90.7 milli on and term loans held by VIE of $3.7 million . No gain or loss was recognized by the Company on the initial consolidation of th e VIEs. Containers sold to the Japanese investor funds during the three months ended September 30, 2017 and 2016 , had a net book value of $6.0 million and $9.2 million, respectively. Containers sold to the Japanese investor funds during the nine months ended September 30, 2017 and 2016 , had a book value of $13.2 million and $26.1 million, respectively.

Acquisitions

Acquisitions	9 Months Ended
	Sep. 30, 2017
Acquisitions [Abstract]
Acquisitions	(5) Acquisitions In 2016, the Company completed the acquisitions of Challenger and Hybrid, for total consideration of $22.8 million, $6.0 million of which was contingent and based on their future performance. The aggregate allocation of the combined purchase price included $1.2 million of cash, $9.9 million of identifiable intangible assets, $12.9 million of residual goodwill, and $1.2 million of net liabilities assumed. The contingent consideration liability was $2.2 million as of December 31, 2016. Expected future payments of $ 2.1 million and $0. 1 million were recorded in Other long-term liabilities and Accrued expenses and Other current liabilities, respectively, in the Company’s consolidated balance sheet s at December 31, 2016. Based on the forecasted future performance of Challenger and Hybrid, it has been estimated that there will be no future payments made and, as a result, the fair value of the contingent consideration liability has been estimated to be zero at September 30, 2017. The following table provides a reconciliation of the contingent consideration liability measured at estimated fair value based on the balance as of December 31, 2016 and updated quarterly for the nine months ended September 30, 2017 (in thousands):     2017  January 1 $ 2,211  Net decrease in estimated fair value of contingent consideration  included in Administrative expenses  Three months ended March 31, 2017 -  Three months ended June 30, 2017 (631)  Three months ended September 30, 2017 (1,580)  September 30 $ - 

Rental Equipment

Rental Equipment	9 Months Ended
	Sep. 30, 2017
Rental Equipment [Abstract]
Rental Equipment	(6) Rental Equipment The following table provides a summary of the Company’s rental equipment (in thousands):     September 30, December 31,  2017 2016  Dry containers $ 1,529,405 $ 1,322,508  Refrigerated containers 346,996 350,776  Other specialized equipment 162,357 164,934  Railcars 424,682 389,945  2,463,440 2,228,163  Accumulated depreciation (484,428) (421,153)  Rental equipment, net of accumulated depreciation $ 1,979,012 $ 1,807,010  

Net Investment In Direct Financ

Net Investment In Direct Finance Leases	9 Months Ended
	Sep. 30, 2017
Net Investment In Direct Finance Leases [Abstract]
Net Investment In Direct Finance Leases	(7) Net Investment in Direct Finance Leases The following table represents the components of the Company’s net investment in direct finance leases (in thousands):    September 30, December 31,  2017 2016  Gross finance lease receivables (1) $ 329,223 $ 123,563  Unearned income (2) (101,282) (23,022)  Net investment in direct finance leases $ 227,941 $ 100,541  (1) At the inception of the lease, the Company records the total minimum lease payments, executory costs, if any, and unguaranteed residual value as gross finance lease receivables. The gross finance lease receivables are reduced as c ustomer payments are received. There was $21.9 million and $2.1 million unguaranteed residual value at September 30 , 2017 and December 31, 201 6, respectively, included in gross finance lease receivables. There were no executory costs included in gross finance lease receivables as of September 30 , 2017 and December 31, 201 6 .  (2) The difference between the gross finance lease receivables and the cost of the equipment or carrying amount at the lease inception is recorded as unearned income. Unearned income, together with initial direct costs, are amortized to income over the lease term so as to produce a constant periodic rate of return. There were no unamortized initial direct costs as of September 30 , 2017 and December 31, 201 6 .  In order to estimate the allowance for losses contained in gross finance lease receivables, the Company reviews the credit worthiness of its customers on an ongoing basis. The review includes monitoring credit quality indicators, the aging of customer receivables and general economic conditions. The categories of gross finance lease receivables based on the Company's internal customer credit ratings can be described as follows: Tier 1 — These customers are typically large international shipping lines that have been in business for many years and have world-class operating capabilities and significant financial resources. In most cases, the Company has had a long commercial relationship with these customers and currently maintains regular communication with them at several levels of management, which provides the Company with insight into the customer's current operating and financial performance. In the Company's view, these customers have the greatest ability to withstand cyclical down turns and would likely have greater access to needed capital than lower-rated customers. The Company views the risk of default for Tier 1 customers to range from minimal to moderate. Tier 2 — These customers are typically either smaller shipping lines or freight forwarders with less operating scale or with a high degree of financial leverage, and accordingly the Company views these customers as subject to higher volatility in financial performance over the business cycle. The Company generally expects these customers to have less access to capital markets or other sources of financing during cyclical down turns. The Company views the risk of default for Tier 2 customers as moderate. Tier 3 — Customers in this category exhibit volatility in payments on a regular basis. CAI INTERNATIONAL, INC. NOTES TO UNAUDITED CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED)  Based on the above categories, the Company's gross finance lease receivables were as follows (in thousands):    September 30, December 31,  2017 2016  Tier 1 $ 273,742 $ 74,777  Tier 2 55,481 48,786  Tier 3 - -  $ 329,223 $ 123,563  Contractual maturities of the Company's gross finance lease receivables subsequent to and as of September 30 , 2017 for the years ending September 30 were as follows (in thousands):     2018 $ 46,735  2019 62,606  2020 32,929  2021 30,873  2022 27,974  2023 and thereafter 128,106  $ 329,223  

Intangible Assets

Intangible Assets	9 Months Ended
	Sep. 30, 2017
Intangible Assets [Abstract]
Intangible Assets	( 8) Intangible Assets The Company amortizes intangible assets on a straight line - basis over their estimated useful lives as follows:    Trademarks and tradenames 2 - 3 years Customer relationships 8 years  The Company’s i ntangible assets as of September 30, 2017 and December 31, 2016 were as follows (in thousands):      Gross Carrying Amount Accumulated Amortization Net Carrying Amount  September 30, 2017  Trademarks and tradenames $ 1,786 $ (1,269) $ 517  Customer relationships 9,344 (1,705) 7,639  $ 11,130 $ (2,974) $ 8,156  December 31, 2016  Trademarks and tradenames $ 3,028 $ (1,850) $ 1,178  Customer relationships 9,344 (831) 8,513  $ 12,372 $ (2,681) $ 9,691   Total amortization expense was $ 0.4 million for both the three months ended September 30 , 2017 and 2016 , respectively, and $1.5 million and $0.7 million for the nine months ended September 30, 2017 and 2016, respectively, and was included in administrative expenses in the consolidated statements of income . As of September 30 , 2017 , estimated future amortization expenses are as follows (in thousands):     2018 $ 1,637  2019 1,213  2020 1,167  2021 1,167  2022 1,167  2023 and thereafter 1,805  $ 8,156  

Debt

Debt	9 Months Ended
	Sep. 30, 2017
Debt [Abstract]
Debt	( 9) Debt Details of the Company’s debt as of September 30 , 2017 and December 31, 201 6 were as follows (dollars in thousands):     September 30, 2017 December 31, 2016  Outstanding Average Outstanding Average  Current Long-term Interest Current Long-term Interest Maturity   Revolving credit facility $ - $ 407,000 3.0% $ - $ 526,000 2.5% March 2020  Revolving credit facility - Rail - 254,000 2.7% - 223,500 2.4% October 2020  Revolving credit facility - Euro - 14,534 2.0% - - - September 2020  Term loan 22,350 - 3.2% 1,800 21,900 2.9% April 2018  Term loan 9,000 114,000 2.8% 9,000 120,750 2.3% October 2019  Term loan 7,000 84,250 3.0% 7,000 89,500 2.5% June 2021  Term loan 1,188 16,827 3.4% 1,158 17,723 3.4% December 2020  Term loan 2,780 44,270 3.6% 2,705 46,365 3.6% August 2021  Senior secured notes 6,110 58,885 4.9% 6,110 64,995 4.9% September 2022  Asset-backed notes 65,307 394,311 3.5% 40,000 202,875 3.4% June 2042  Collateralized financing obligations 23,365 67,343 1.3% 28,693 71,346 1.1% September 2020  Term loans held by VIE - 3,743 2.7% 2,287 3,541 2.5% June 2019  137,100 1,459,163 98,753 1,388,495  Debt issuance costs (3,778) (8,575) (3,226) (7,996)  Total Debt $ 133,322 $ 1,450,588 $ 95,527 $ 1,380,499  On June 16, 2017, the Company entered into an amendment to the Third Amended and Restated Revolving Credit Agreement, pursuant to which the revolving credit facility was amended to increase the commitment level from $775.0 million to $960.0 million. The Company maintains its revolving credit facilities to finance the acquisition of rental equipment and for general working capital purposes. As of September 30 , 2017 , the Company had $813.9 million in total availability und er its revolving credit facilities (net of $0.1 million in letters of credit) . On July 6, 2017, CAL Funding III Limited (CAL Funding III), a wholly-owned indirect subsidiary of CAI, issued $240.9 million of 3.6 % Class A fixed rate asset-backed notes and $12.2 million of 4.6% Class B fixed rate asset-backed notes (collectively, the Notes). Principal and interest on the Notes is payable monthly commencing on July 25, 2017, with the Notes maturing in June 2042. The proceeds from the Notes were used for general corporate purposes, including repayment of debt by the Company. The Notes are secured by all of the assets of CAL Funding III. The agreements relating to all of the Company’s debt contain various financial and other covenants. As of September 30, 2017 , the Company was in compliance with all of its debt covenants. For further information on the Company’s debt instruments, see Note 10 to the consolidated financial statements in the Company’s Annual Report on Form 10-K for the year ended December 31, 2016, filed with the SEC on March 13, 2017.

Stock-Based Compensation Plan

Stock-Based Compensation Plan	9 Months Ended
	Sep. 30, 2017
Stock-Based Compensation Plan [Abstract]
Stock-Based Compensation Plan	( 10) Stock–Based Compensation Plan Stock Options The Company grants stock options from time to time to certain employees and independent directors pursuant t o its 2007 Equity Incentive Plan, as amended (Plan) . Under the Plan, a maximum of 3,421,980 share awards may be granted. Stock options granted to employees have a vesting period of four years from grant date, with 25% vesting after one year, and 1/48th vesting each month thereafter until fully vested. Stock options granted to independent directors vest in one year. All of the stock options have a contractual term of ten years. CAI INTERNATIONAL, INC. NOTES TO UNAUDITED CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED)  The following table summarizes the Company’s stock option activities for the nine months ended September 30, 2017 and 2016 :     Nine Months Ended September 30,  2017 2016  Weighted Weighted  Average Average  Number of Exercise Number of Exercise  Shares Price Shares Price  Options outstanding at January 1 1,428,255 $ 16.31 1,189,255 $ 18.08  Options granted 230,500 $ 16.80 245,000 $ 7.87  Options exercised (240,173) $ 11.40 - $ -  Options forfeited/cancelled - $ 16.94 (6,000) $ 21.99  Options outstanding at September 30 1,418,582 $ 17.22 1,428,255 $ 16.31  Options exercisable 975,087 $ 18.24 1,033,518 $ 17.47  Weighted average remaining term 5.0 years 4.7 years  The aggregate intrinsic value of stock options exercised during the nine months ended September 30, 2017 was $2.2 million. The aggregate intrinsic value of all options outstanding as of September 30, 2017 was $18.6 million based on the closing price of the Company’s common stock of $30.32 per share on September 29 , 2017 , the last trading day of the quarter. The Company recognized stock-based compensation expense relating to stock options of $0.4 million and $0.3 million for the three months ended September 30 , 2017 and 2016 , respectively , and $1.2 million and $1.0 million for the nine months ended September 30, 2017 and 2016, respectively . As of September 30 , 2017 , the remaining unamortized stock-based compensation cost relating to stock options granted to the Company’s employees and independent directors was approximately $2.9 million, which is to be recognized over the remaining weighted average vesting period of approximately 2.5 years . The fair value of stock options granted to the Company’s employees and independent directors was estimated using the Black-Scholes-Merton pricing model using the following weighted average assumptions:      Nine Months Ended September 30,  2017 2016  Stock price $ 16.80 $ 7.87  Exercise price $ 16.80 $ 7.87   Expected term (years) 5.50 - 6.25 5.50 - 6.25  Expected volatility (%) 56.40 - 57.50 45.40 - 46.70  Risk-free interest rate (%) 1.77 - 2.14 1.30 - 1.40  Dividend yield (%) - -  The expected option term is calculated using the simplified method in accordance with SEC guidance. The expected volatility was derived from the average volatility of the Company’s stock over a period approximating the expected term of the options. The risk-free rate is based on the daily U.S. Treasury yield curve with a term approximating the expected term of the options. No forfeiture rate was estimated on all options granted during the nine months ended September 30, 2017, as the Company accounts for forfeitures as they occur (see Note 2). CAI INTERNATIONAL, INC. NOTES TO UNAUDITED CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED)  Restricted Stock The Company grants restricted stock from time to time to certain employees pursuant to the Plan. The restricted stock is valued based on the closing price of the Company’s stock on the date of grant and has a vesting period of four years. The following table summarizes the activity of restricted stock under the Plan:     Number of Weighted  Shares of Average  Restricted Grant Date  Stock Fair Value  Restricted stock outstanding, December 31, 2016 65,802 $ 14.75  Restricted stock granted 37,414 $ 17.14  Restricted stock vested (24,674) $ 17.83  Restricted stock outstanding, September 30, 2017 78,542 $ 14.92  The Company recognized $0.1 m illion of stock-based compensation expense relating to restricted stock for both the three months ended September 30, 2017 and 2016, and $0.4 million and $0.3 million for the nine months ended September 30, 2017 and 2016, respectively . As of September 30, 2017 , unamortized stock-based compensation expense relating to restricted stock was $1.0 million, which will be recognized over the remaining average vesting period of 2.6 years. Stock-based compensation expense is recorded as a component of administrative expense s in the Company’s consolidated statements of income with a corresponding credit to additional paid-in capital in the Company’s consolidated balance sheets.

Income Taxes

Income Taxes	9 Months Ended
	Sep. 30, 2017
Income Taxes [Abstract]
Income Taxes	(11) Income Taxes The consolidated income tax expense for the three and nine months ended September 30, 2017 and 2016 , was determined based upon estimates of the Company’s consolidated annual effective income tax rate for the years ending December 31, 201 7 and 201 6 , respectively. The difference between the consolidated annual effective income tax rate and the U.S. federal statutory rate is primarily attributable to foreign income taxes, state income taxes and the effect of certain permanent differences. The Company’s estimated effective tax rate was 1.5% at September 30, 2017 , compared to 38.0% at September 30, 2016 . The lower estimated effective tax rate at September 30, 2017 was due to a significant increase in the proportion of pretax income generated in lower tax jurisdictions. The Company accounts for uncertain tax positions based on an evaluation as to whether it is more likely than not that a position will be sustained on audit, including resolution of any related appeals or litigation processes. This evaluation is based on all available evidence and assumes that the appropriate tax authorities have full knowledge of all relevant information concerning the tax position. Once it has been determined that a tax position is more likely than not to be sustained on its technical merits, the tax benefit recognized is based on the largest amount that is greater than 50% likely of being realized upon ultimate settlement. As of September 30, 2017 , the Company had unrecognized tax benefits of $0.2 million, which if recognized, would reduce the Company’s effective tax rate. Total accrued interest relating to unrecognized tax benefits was less than $0.1 million as of September 30, 2017 . The Company does not believe the total amount of unrecognized tax benefits as of September 30, 2017 will change for th e remainder of 201 7 . The Company was notified on May 1, 2017 that their 2015 federal income tax return was selected for examination. An initial meeting with the examining agent was held in August 2017. The examination is in its preliminary data gathering stage.

Fair Value Of Financial Instrum

Fair Value Of Financial Instruments	9 Months Ended
	Sep. 30, 2017
Fair Value Of Financial Instruments [Abstract]
Fair Value Of Financial Instruments	(12) Fair Value of Financial Instruments The carrying amounts reported in the consolidated balance sheets for cash, accounts receivable and accounts payable approximate fair value because of the immediate or short-term maturity of these financial instruments. The Company’s asset-backed notes of $459.6 million and collateralized financing obligations of $90.7 million as of September 30, 2017 were estimated to have a fair value of approximately $458.0 million and $92.2 million, respectively, based on the fair value of estimated future payments calculated using prevailing interest rates. The fair value of these financial instruments would be categorized as Level 2 in the fair value hierarchy. Management believes that the balances of the Company’s revolving credit facilities of $675.5 million, term loans totaling $301.7 million, senior secured notes of $65.0 million, term loans held by VIE of $3.7 million and net inves tment in direct finance leases of $227.9 approximate their fair values as of September 30 , 2017 . The fair value of these financial instruments would be categorized as Level 2 in the fair value hierarchy.

Commitments And Contingencies

Commitments And Contingencies	9 Months Ended
	Sep. 30, 2017
Commitments And Contingencies [Abstract]
Commitments And Contingencies	(13) Commitments and Contingencies In addition to its debt obligations described in Note 9 above, the Company had commitments to purchase approximately $63.9 million of containers and $ 150.2 million of railcars as of September 30, 2017 ; $63.9 million of containers and $ 113.5 million of railcars in the twelve months ending September 30 , 2018 and $36.7 million of railcars in the twelve months ending September 30 , 2019. The Co mpany also utilizes certain office facilities and equipment under long-term non-cancellable operating lease agreements with total future minimum lease payments of approximately $4.3 million as of September 30 , 2017 .

Related Party Transactions

Related Party Transactions	9 Months Ended
	Sep. 30, 2017
Related Party Transactions [Abstract]
Related Party Transactions	 ( 14) Related Party Transactions The Company has transferred legal ownership of certain containers to Japanese container funds that were established by Japan Investment Adviser Co., Ltd. (JIA) and CAIJ, Inc. (CAIJ). Prior to April 2016, CAIJ was an 80% -owned subsidiary of CAI with the remaining 20% owned by JIA. Prior to the transfer of containers from the Company, the container funds received contributions from unrelated Japanese investors, under separate Japanese investment agreements allowed under Japanese commercial laws. The contributions were used to purchase container equipment from the Company. Under the terms of the agreements, the CAI-related Japanese entities manage the activities of certain Japanese entities but may outsource the whole or part of each operation to a third party. Pursuant to its services agreements with investors, the Japanese container funds outsourced the general management of their operations to CAIJ. The Japanese container funds also entered into equipment management service agreements and financing arrangements whereby the Company managed the leasing activity of containers owned by the Japanese container funds. As described in Note 4 , the Japanese managed container funds and financing arrangements are considered VIEs. However, with the exception of the financing arrangements described in Note 4 , the Company does not consider its interest in the managed Japanese container funds to be a variable interest. As such, the Company did not consolidate the assets and liabilities, results of operations or cash flows of these funds in its consolidated financial statements. As described in Note 4 , the Company has included in its consolidated financial statements, the assets and liabilities, results of operations, and cash flows of the financing arrangements, in accordance with FASB ASC Topic 810, Consolidation .

Segment And Geographic Informat

Segment And Geographic Information	9 Months Ended
	Sep. 30, 2017
Segment And Geographic Information [Abstract]
Segment And Geographic Information	(15) Segment and Geographic Information The Company organizes itself by the nature of the services it provides which includes equipment leasing (consisting of container leasing and rail leasing) and logistics. The container leasing segment is aggregated with equipment management and derives its revenue from the ownership and leasing of containers and fees earned for managing container portfolios on behalf of third party investors . The rail leasing segment derives its revenue from the ownership and leasing of railcars. The logistics segment derives its revenue from the provision of logistics services. There are no inter-segment revenues. With the exception of administrative expenses, operating expenses are directly attributable to each segment. Administrative expenses that are not directly attributable to a segment are allocated to container or rail leasing based on the net book value of equipment in each segment. The following tables show condensed segment information for the three and nine months ended September 30, 2017 and 2016 , reconciled to the Company’s income before income taxes and non-controlling interest as shown in its consolidated statements of income for such periods (in thousands):      Three Months Ended September 30, 2017  Container Leasing Rail Leasing Logistics Total  Total revenue $ 61,870 $ 7,279 $ 21,012 $ 90,161  Total operating expenses 30,270 5,534 22,463 58,267  Operating income (loss) 31,600 1,745 (1,451) 31,894  Total other expenses 11,537 2,871 - 14,408  Income (loss) before income taxes and non-controlling interest $ 20,063 $ (1,126) $ (1,451) $ 17,486  Goodwill $ - $ - $ 15,794 $ 15,794  Total assets $ 1,910,899 $ 405,118 $ 40,140 $ 2,356,157  Purchase of rental equipment (1) $ 132,405 $ 16,771 $ - $ 149,176 CAI INTERNATIONAL, INC. NOTES TO UNAUDITED CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED)     Three Months Ended September 30, 2016  Container Leasing Rail Leasing Logistics Total  Total revenue $ 49,661 $ 7,614 $ 21,197 $ 78,472  Total operating expenses 45,184 4,367 21,559 71,110  Operating income (loss) 4,477 3,247 (362) 7,362  Total other expenses 9,159 1,827 1 10,987  (Loss) income before income taxes and non-controlling interest $ (4,682) $ 1,420 $ (363) $ (3,625)  Goodwill $ - $ - $ 15,579 $ 15,579  Total assets $ 1,643,929 $ 343,214 $ 40,059 $ 2,027,202  Purchase of rental equipment (1) $ 19,730 $ 20,613 $ - $ 40,343        Nine Months Ended September 30, 2017  Container Leasing Rail Leasing Logistics Total  Total revenue $ 169,784 $ 23,459 $ 61,116 $ 254,359  Total operating expenses 99,788 16,038 63,920 179,746  Operating income (loss) 69,996 7,421 (2,804) 74,613  Total other expenses 30,346 8,220 1 38,567  Income (loss) before income taxes and non-controlling interest $ 39,650 $ (799) $ (2,805) $ 36,046  Purchase of rental equipment (1) $ 246,378 $ 31,391 $ - $ 277,769     Nine Months Ended September 30, 2016  Container Leasing Rail Leasing Logistics Total  Total revenue $ 152,875 $ 22,462 $ 41,743 $ 217,080  Total operating expenses 121,519 12,363 42,522 176,404  Operating income (loss) 31,356 10,099 (779) 40,676  Total other expenses 27,203 4,738 1 31,942  Income (loss) before income taxes and non-controlling interest $ 4,153 $ 5,361 $ (780) $ 8,734  Purchase of rental equipment (1) $ 68,183 $ 102,399 $ - $ 170,582  (1 ) Represents cash disbursements for purchasing of rental equipment as reflected in the consolidated statements of cash flows for the periods indicated.  Geographic Data The Company earns its revenue primarily from intermodal containers which are deployed by its customers in a wide variety of global trade routes. Virtually all of the Company’s containers are used internationally and typically no container is domiciled in one particular place for a prolonged period of time. As such, substantially all of the Company’s long-lived assets are considered to be international, with no single country of use. The Company’s railcars, with a net book value of $397.2 million as of September 30, 2017 , are used primarily to transport cargo within North America. CAI INTERNATIONAL, INC. NOTES TO UNAUDITED CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED)  The following table represents the geographic allocation of revenue for the periods indicated based on customers’ primary domicile (in thousands):      Three Months Ended Nine Months Ended  September 30, September 30,  2017 2016 2017 2016  United States $ 30,131 $ 30,777 $ 90,208 $ 70,156  France 8,938 7,138 25,600 21,447  Switzerland 9,182 4,874 21,087 14,883  Japan 5,132 5,368 15,199 16,806  Singapore 5,345 3,846 14,669 12,486  Korea 5,831 3,616 14,096 11,158  Other Asia 11,151 10,184 32,614 31,475  Other Europe 11,815 9,950 32,904 30,138  Other International 2,636 2,719 7,982 8,531  Total revenue $ 90,161 $ 78,472 $ 254,359 $ 217,080 

Earnings Per Share

Earnings Per Share	9 Months Ended
	Sep. 30, 2017
Earnings Per Share [Abstract]
Earnings Per Share	( 16) Earnings Per Share Basic earnings per share is computed by dividing income available to common stockholders by the weighted average number of common shares outstanding for the period. Diluted earnings per share reflects the potential dilution that would occur if securities or other contracts to issue common stock were exercised or converted into common stock; however, potential common equivalent shares are excluded if their effect is anti-dilutive. The following table sets forth the reconciliation of basic and diluted net income per share for the three and nine months ended September 30, 2017 and 2016 (in thousands, except per share data):     Three Months Ended Nine Months Ended  September 30, September 30,  2017 2016 2017 2016  Numerator  Net income (loss) attributable to CAI common stockholders used  in the calculation of basic and diluted earnings per share $ 17,587 $ (5,451) $ 35,497 $ 5,377  Denominator  Weighted-average shares used in the calculation of basic  earnings per share 19,180 19,130 19,108 19,427  Effect of dilutive securities:  Stock options and restricted stock 453 - 314 71  Weighted-average shares used in the calculation of diluted  earnings per share 19,633 19,130 19,422 19,498   Net income (loss) per share attributable to CAI common  stockholders:  Basic $ 0.92 $ (0.28) $ 1.86 $ 0.28  Diluted $ 0.90 $ (0.28) $ 1.83 $ 0.28  The calculation of diluted earnings per share for the three months ended September 30, 2017 and 2016 , excluded from the denominator 41,989 and 1,231,455 shares, respectively, of common stock options because their effect would have been anti-dilutive . The calculation of diluted earnings per share for the nine months ended September 30, 2017 and 2016 , excluded from the denominator 822,226 and 1,103,495 shares, respectively, of common stock options because their effect would have been anti-dilutive .

Accounting Policies And Recen23

Accounting Policies And Recent Accounting Pronouncements (Policy)	9 Months Ended
	Sep. 30, 2017
Accounting Policies And Recent Accounting Pronouncements [Abstract]
Accounting Policies	Accounting Policies Container rental equipment is recorded at original cost and depreciated to an estimated residual value on a straight-line basis over its estimated useful life. The estimated useful lives and residual values of the Company’s container equipment are based on historical disposal experience and the Company’s expectations for future used container sale prices. Depreciation estimates are reviewed on a regular basis to determine whether sustained changes have taken place in the useful lives of equipment or assigned residual values, which would suggest that a change in depreciation estimates is warranted. After the Company conducted its regular depreciation policy review for 2016, it concluded that a change in the estimated residual value for 40-foot high cube dry van containers from $1,650 to $1,400 per container, effective July 1, 2016, was appropriate. The change increased the Company’s depreciation expense by $4.4 million, decreased net income by $4.3 million, and decreased diluted earnings per share by $0.22, for the nine months ended September 30 , 2017. The Company continuously monitors disposal prices across its entire portfolio for indications of a sustained market downturn. The Company will adjust its residual value estimates as and when conditions warrant. Except as described below in “Recent Accounting Pronouncements , ” there were no changes to the Company’s accounting policies during the nine months ended September 30 , 2017 . See Note 2 to the consolidated financial statements in the Company’s Annual Report on Form 10-K for the year ended December 31, 2016, filed with the SEC on March 13, 2017, for a description of the Company’s significant accounting policies.
Recent Accounting Pronouncements	Recent Accounting Pronouncements In March 2016, the F inancial A ccounting S tandards B oard (FASB) issued Accounting Standards Update (ASU) No. 2016-09, Improvements to Employee Share-Based Payment Accounting (ASU 2016-09) . The new standard simplifies certain aspects of the accounting for share-based payment transactions, including income taxes, classification of awards and classification on the statement of cash flows. The new guidance also allows an entity to make a policy election to account for forfeitures as they occur. The Company adopted ASU 2016-09 effective January 1, 2017. Accordingly, excess tax benefits or deficiencies from stock-based compensation are now reflected in the consolidated statements of income as a component of the provision for income taxes, whereas they were previously recognized in equity. As a result of the adoption of ASU 2016-09, the Company recognized $1.0 million in deferred tax assets associated with excess tax benefits not previously recognized in deferred taxes as a cumulative-effect adjustment to retained earnings as of January 1, 2017. Adoption of the new standard did not have a material impact on our provision for income taxes for the three and nine months ended September 30 , 2017. The Company elected to apply the change in presentation to the statements of cash flows prospectively and elected to account for forfeitures as they occur, rather than estimate expected forfeitures, which did not have a material impact on the Company’s consolidated financial statements

Acquisitions (Tables)

Acquisitions (Tables)	9 Months Ended
	Sep. 30, 2017
Acquisitions [Abstract]
Schedule Of Contingent Consideration Liability	  2017  January 1 $ 2,211  Net decrease in estimated fair value of contingent consideration  included in Administrative expenses  Three months ended March 31, 2017 -  Three months ended June 30, 2017 (631)  Three months ended September 30, 2017 (1,580)  September 30 $ - 

Rental Equipment (Tables)

Rental Equipment (Tables)	9 Months Ended
	Sep. 30, 2017
Rental Equipment [Abstract]
Schedule Of Rental Equipment	  September 30, December 31,  2017 2016  Dry containers $ 1,529,405 $ 1,322,508  Refrigerated containers 346,996 350,776  Other specialized equipment 162,357 164,934  Railcars 424,682 389,945  2,463,440 2,228,163  Accumulated depreciation (484,428) (421,153)  Rental equipment, net of accumulated depreciation $ 1,979,012 $ 1,807,010 

Net Investment In Direct Fina26

Net Investment In Direct Finance Leases (Tables)	9 Months Ended
	Sep. 30, 2017
Net Investment In Direct Finance Leases [Abstract]
Components Of Net Investment In Direct Finance Leases	   September 30, December 31,  2017 2016  Gross finance lease receivables (1) $ 329,223 $ 123,563  Unearned income (2) (101,282) (23,022)  Net investment in direct finance leases $ 227,941 $ 100,541  (1) At the inception of the lease, the Company records the total minimum lease payments, executory costs, if any, and unguaranteed residual value as gross finance lease receivables. The gross finance lease receivables are reduced as c ustomer payments are received. There was $21.9 million and $2.1 million unguaranteed residual value at September 30 , 2017 and December 31, 201 6, respectively, included in gross finance lease receivables. There were no executory costs included in gross finance lease receivables as of September 30 , 2017 and December 31, 201 6 .  (2) The difference between the gross finance lease receivables and the cost of the equipment or carrying amount at the lease inception is recorded as unearned income. Unearned income, together with initial direct costs, are amortized to income over the lease term so as to produce a constant periodic rate of return. There were no unamortized initial direct costs as of September 30 , 2017 and December 31, 201 6 . 
Gross Finance Lease Receivables By Customer Categories	   September 30, December 31,  2017 2016  Tier 1 $ 273,742 $ 74,777  Tier 2 55,481 48,786  Tier 3 - -  $ 329,223 $ 123,563 
Contractual Maturities Of Gross Finance Lease Receivables	   2018 $ 46,735  2019 62,606  2020 32,929  2021 30,873  2022 27,974  2023 and thereafter 128,106  $ 329,223 

Intangible Assets (Tables)

Intangible Assets (Tables)	9 Months Ended
	Sep. 30, 2017
Intangible Assets [Abstract]
Schedule Of Estimated Useful Lives	  Trademarks and tradenames 2 - 3 years Customer relationships 8 years 
Schedule Of Intangible Assets	   Gross Carrying Amount Accumulated Amortization Net Carrying Amount  September 30, 2017  Trademarks and tradenames $ 1,786 $ (1,269) $ 517  Customer relationships 9,344 (1,705) 7,639  $ 11,130 $ (2,974) $ 8,156  December 31, 2016  Trademarks and tradenames $ 3,028 $ (1,850) $ 1,178  Customer relationships 9,344 (831) 8,513  $ 12,372 $ (2,681) $ 9,691 
Schedule Of Estimated Future Amortization Expenses	  2018 $ 1,637  2019 1,213  2020 1,167  2021 1,167  2022 1,167  2023 and thereafter 1,805  $ 8,156 

Debt (Tables)

Debt (Tables)	9 Months Ended
	Sep. 30, 2017
Debt [Abstract]
Schedule Of Debt	   September 30, 2017 December 31, 2016  Outstanding Average Outstanding Average  Current Long-term Interest Current Long-term Interest Maturity   Revolving credit facility $ - $ 407,000 3.0% $ - $ 526,000 2.5% March 2020  Revolving credit facility - Rail - 254,000 2.7% - 223,500 2.4% October 2020  Revolving credit facility - Euro - 14,534 2.0% - - - September 2020  Term loan 22,350 - 3.2% 1,800 21,900 2.9% April 2018  Term loan 9,000 114,000 2.8% 9,000 120,750 2.3% October 2019  Term loan 7,000 84,250 3.0% 7,000 89,500 2.5% June 2021  Term loan 1,188 16,827 3.4% 1,158 17,723 3.4% December 2020  Term loan 2,780 44,270 3.6% 2,705 46,365 3.6% August 2021  Senior secured notes 6,110 58,885 4.9% 6,110 64,995 4.9% September 2022  Asset-backed notes 65,307 394,311 3.5% 40,000 202,875 3.4% June 2042  Collateralized financing obligations 23,365 67,343 1.3% 28,693 71,346 1.1% September 2020  Term loans held by VIE - 3,743 2.7% 2,287 3,541 2.5% June 2019  137,100 1,459,163 98,753 1,388,495  Debt issuance costs (3,778) (8,575) (3,226) (7,996)  Total Debt $ 133,322 $ 1,450,588 $ 95,527 $ 1,380,499 

Stock-Based Compensation Plan (

Stock-Based Compensation Plan (Tables)	9 Months Ended
	Sep. 30, 2017
Stock-Based Compensation Plan [Abstract]
Summary Of Stock Option Activities	   Nine Months Ended September 30,  2017 2016  Weighted Weighted  Average Average  Number of Exercise Number of Exercise  Shares Price Shares Price  Options outstanding at January 1 1,428,255 $ 16.31 1,189,255 $ 18.08  Options granted 230,500 $ 16.80 245,000 $ 7.87  Options exercised (240,173) $ 11.40 - $ -  Options forfeited/cancelled - $ 16.94 (6,000) $ 21.99  Options outstanding at September 30 1,418,582 $ 17.22 1,428,255 $ 16.31  Options exercisable 975,087 $ 18.24 1,033,518 $ 17.47  Weighted average remaining term 5.0 years 4.7 years 
Summary Of Fair Value Weighted Average Assumptions	   Nine Months Ended September 30,  2017 2016  Stock price $ 16.80 $ 7.87  Exercise price $ 16.80 $ 7.87   Expected term (years) 5.50 - 6.25 5.50 - 6.25  Expected volatility (%) 56.40 - 57.50 45.40 - 46.70  Risk-free interest rate (%) 1.77 - 2.14 1.30 - 1.40  Dividend yield (%) - - 
Summary Of Restricted Stock Activity	   Number of Weighted  Shares of Average  Restricted Grant Date  Stock Fair Value  Restricted stock outstanding, December 31, 2016 65,802 $ 14.75  Restricted stock granted 37,414 $ 17.14  Restricted stock vested (24,674) $ 17.83  Restricted stock outstanding, September 30, 2017 78,542 $ 14.92 

Segment And Geographic Inform30

Segment And Geographic Information (Tables)	9 Months Ended
	Sep. 30, 2017
Segment And Geographic Information [Abstract]
Schedule Of Segment Information	   Three Months Ended September 30, 2017  Container Leasing Rail Leasing Logistics Total  Total revenue $ 61,870 $ 7,279 $ 21,012 $ 90,161  Total operating expenses 30,270 5,534 22,463 58,267  Operating income (loss) 31,600 1,745 (1,451) 31,894  Total other expenses 11,537 2,871 - 14,408  Income (loss) before income taxes and non-controlling interest $ 20,063 $ (1,126) $ (1,451) $ 17,486  Goodwill $ - $ - $ 15,794 $ 15,794  Total assets $ 1,910,899 $ 405,118 $ 40,140 $ 2,356,157  Purchase of rental equipment (1) $ 132,405 $ 16,771 $ - $ 149,176 CAI INTERNATIONAL, INC. NOTES TO UNAUDITED CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED)     Three Months Ended September 30, 2016  Container Leasing Rail Leasing Logistics Total  Total revenue $ 49,661 $ 7,614 $ 21,197 $ 78,472  Total operating expenses 45,184 4,367 21,559 71,110  Operating income (loss) 4,477 3,247 (362) 7,362  Total other expenses 9,159 1,827 1 10,987  (Loss) income before income taxes and non-controlling interest $ (4,682) $ 1,420 $ (363) $ (3,625)  Goodwill $ - $ - $ 15,579 $ 15,579  Total assets $ 1,643,929 $ 343,214 $ 40,059 $ 2,027,202  Purchase of rental equipment (1) $ 19,730 $ 20,613 $ - $ 40,343        Nine Months Ended September 30, 2017  Container Leasing Rail Leasing Logistics Total  Total revenue $ 169,784 $ 23,459 $ 61,116 $ 254,359  Total operating expenses 99,788 16,038 63,920 179,746  Operating income (loss) 69,996 7,421 (2,804) 74,613  Total other expenses 30,346 8,220 1 38,567  Income (loss) before income taxes and non-controlling interest $ 39,650 $ (799) $ (2,805) $ 36,046  Purchase of rental equipment (1) $ 246,378 $ 31,391 $ - $ 277,769     Nine Months Ended September 30, 2016  Container Leasing Rail Leasing Logistics Total  Total revenue $ 152,875 $ 22,462 $ 41,743 $ 217,080  Total operating expenses 121,519 12,363 42,522 176,404  Operating income (loss) 31,356 10,099 (779) 40,676  Total other expenses 27,203 4,738 1 31,942  Income (loss) before income taxes and non-controlling interest $ 4,153 $ 5,361 $ (780) $ 8,734  Purchase of rental equipment (1) $ 68,183 $ 102,399 $ - $ 170,582  (1 ) Represents cash disbursements for purchasing of rental equipment as reflected in the consolidated statements of cash flows for the periods indicated. 
Schedule Of Geographic Allocation Of Revenue	  Three Months Ended Nine Months Ended  September 30, September 30,  2017 2016 2017 2016  United States $ 30,131 $ 30,777 $ 90,208 $ 70,156  France 8,938 7,138 25,600 21,447  Switzerland 9,182 4,874 21,087 14,883  Japan 5,132 5,368 15,199 16,806  Singapore 5,345 3,846 14,669 12,486  Korea 5,831 3,616 14,096 11,158  Other Asia 11,151 10,184 32,614 31,475  Other Europe 11,815 9,950 32,904 30,138  Other International 2,636 2,719 7,982 8,531  Total revenue $ 90,161 $ 78,472 $ 254,359 $ 217,080 

Earnings Per Share (Tables)

Earnings Per Share (Tables)	9 Months Ended
	Sep. 30, 2017
Earnings Per Share [Abstract]
Reconciliation Of Basic And Diluted Net Income Per Share	   Three Months Ended Nine Months Ended  September 30, September 30,  2017 2016 2017 2016  Numerator  Net income (loss) attributable to CAI common stockholders used  in the calculation of basic and diluted earnings per share $ 17,587 $ (5,451) $ 35,497 $ 5,377  Denominator  Weighted-average shares used in the calculation of basic  earnings per share 19,180 19,130 19,108 19,427  Effect of dilutive securities:  Stock options and restricted stock 453 - 314 71  Weighted-average shares used in the calculation of diluted  earnings per share 19,633 19,130 19,422 19,498   Net income (loss) per share attributable to CAI common  stockholders:  Basic $ 0.92 $ (0.28) $ 1.86 $ 0.28  Diluted $ 0.90 $ (0.28) $ 1.83 $ 0.28 

The Company And Nature Of Ope32

The Company And Nature Of Operations (Narrative) (Details) - USD ($) $ in Millions	Jun. 30, 2016	Feb. 29, 2016
Challenger [Member]
Business Acquisition [Line Items]
Acquisition purchase price		$ 10.8
Hybrid [Member]
Business Acquisition [Line Items]
Acquisition purchase price	$ 12

Accounting Policies And Recen33

Accounting Policies And Recent Accounting Pronouncements (Narrative) (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Significant Accounting Policies [Line Items]
Depreciation expense	$ 27,788,000	$ 29,873,000	$ 82,814,000	$ 77,401,000
Net income	$ 17,587,000	$ (5,451,000)	$ 35,497,000	$ 5,414,000
Earnings Per Share, Diluted	$ 0.90	$ (0.28)	$ 1.83	$ 0.28
Deferred tax asset	$ 1,000,000		$ 1,000,000
40-ft. High Cube Dry Van Container [Member]
Significant Accounting Policies [Line Items]
Residual value	$ 1,400	$ 1,650	1,400	$ 1,650
Reclassification [Member] | 40-ft. High Cube Dry Van Container [Member]
Significant Accounting Policies [Line Items]
Depreciation expense			4,400,000
Net income			$ 4,300,000
Earnings Per Share, Diluted			$ 0.22

Insurance Receivable And Impa34

Insurance Receivable And Impairment (Narrative) (Details) - Customer One, Filed For Court Protection [Member] - USD ($) $ in Millions	1 Months Ended	9 Months Ended	12 Months Ended
	Oct. 31, 2017	Sep. 30, 2017	Dec. 31, 2016
Accounts, Notes, Loans and Financing Receivable [Line Items]
Days covered of lost lease rental income		180 days
Percentage of containers on lease		92.00%
Recover and repair deductible		$ 0.5
Lost lease rental income deductible		2
Insurance receivable		3.2
Proceeds from insurance receivable		8
Dry Containers [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Impairment			$ 3.2
Insurance receivable		7.4	3.8
Estimated proceeds		2.2	1.2
Repair costs		1.5
Recovery costs		$ 3.7	$ 2.6
Subsequent Event [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Proceeds from insurance receivable	$ 1.5

Consolidation Of Variable Int35

Consolidation Of Variable Interest Entities (Narrative) (Details)	3 Months Ended		9 Months Ended
	Sep. 30, 2017USD ($)item	Sep. 30, 2016USD ($)item	Sep. 30, 2017USD ($)item	Sep. 30, 2016USD ($)item	Dec. 31, 2016USD ($)
Variable Interest Entity [Line Items]
Net book value	$ 1,979,012,000		$ 1,979,012,000		$ 1,807,010,000
Collateralized Financing Obligations [Member]
Variable Interest Entity [Line Items]
Long-term debt	90,700,000		90,700,000
Variable Interest Entity, Primary Beneficiary [Member]
Variable Interest Entity [Line Items]
Net book value	58,075,000		58,075,000		62,477,000
Cash	22,445,000		22,445,000		$ 30,449,000
Variable Interest Entity, Primary Beneficiary [Member] | Term Loan [Member]
Variable Interest Entity [Line Items]
Long-term debt	$ 3,700,000		$ 3,700,000
Variable Interest Entity, Primary Beneficiary [Member] | Containers [Member]
Variable Interest Entity [Line Items]
Number of types of container fund arrangements | item			2
Number of container portfolios sold | item	0	0	0	0
Net book value	$ 66,100,000		$ 66,100,000
Cash	22,400,000		22,400,000
Gain (loss) recognized on initial consolidation of VIEs			0
Book value of containers sold	$ 6,000,000	$ 9,200,000	$ 13,200,000	$ 26,100,000

Acquisitions (Narrative) (Detai

Acquisitions (Narrative) (Details) - USD ($) $ in Thousands	Sep. 30, 2017	Dec. 31, 2016	Sep. 30, 2016
Business Acquisition [Line Items]
Contingent consideration liability		$ 2,211
Goodwill	$ 15,794	15,794	$ 15,579
Challenger And Hybrid [Member]
Business Acquisition [Line Items]
Acquisition purchase price		22,800
Contingent consideration liability		6,000
Cash		1,200
Intangible assets		9,900
Net liabilities assumed		1,200
Goodwill		12,900
Challenger And Hybrid [Member] | Other Long-Term Liabilities [Member]
Business Acquisition [Line Items]
Contingent consideration liability		2,100
Challenger And Hybrid [Member] | Accrued Expenses And Other Current Liabilities [Member]
Business Acquisition [Line Items]
Contingent consideration liability		$ 100

Acquisitions (Schedule of Conti

Acquisitions (Schedule of Contingent Consideration Liability) (Details) - USD ($) $ in Thousands	3 Months Ended			9 Months Ended
	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Sep. 30, 2017	Sep. 30, 2016
Acquisitions [Abstract]
Beginning Balance			$ 2,211	$ 2,211
Net decrease in estimated fair value of contingent consideration included in Administrative expenses	$ (1,580)	$ (631)		(2,211)	$ (1,000)
Ending Balance

Rental Equipment (Schedule Of R

Rental Equipment (Schedule Of Rental Equipment) (Details) - USD ($) $ in Thousands	Sep. 30, 2017	Dec. 31, 2016
Property, Plant and Equipment [Line Items]
Rental equipment, gross	$ 2,463,440	$ 2,228,163
Accumulated depreciation	(484,428)	(421,153)
Rental equipment, net of accumulated depreciation	1,979,012	1,807,010
Dry Containers [Member]
Property, Plant and Equipment [Line Items]
Rental equipment, gross	1,529,405	1,322,508
Refrigerated Containers [Member]
Property, Plant and Equipment [Line Items]
Rental equipment, gross	346,996	350,776
Other Specialized Equipment [Member]
Property, Plant and Equipment [Line Items]
Rental equipment, gross	162,357	164,934
Railcars [Member]
Property, Plant and Equipment [Line Items]
Rental equipment, gross	424,682	$ 389,945
Rental equipment, net of accumulated depreciation	$ 397,200

Net Investment In Direct Fina39

Net Investment In Direct Finance Leases (Components Of Net Investment In Direct Finance Leases) (Details) - USD ($) $ in Thousands		Sep. 30, 2017	Dec. 31, 2016
Net Investment In Direct Finance Leases [Abstract]
Gross finance lease receivables	[1]	$ 329,223	$ 123,563
Unearned income	[2]	(101,282)	(23,022)
Net investment in direct finance leases		227,941	100,541
Unguaranteed residual value		21,900	2,100
Executory costs		0	0
Unamortized initial direct costs		$ 0	$ 0
[1]	At the inception of the lease, the Company records the total minimum lease payments, executory costs, if any, and unguaranteed residual value as gross finance lease receivables. The gross finance lease receivables are reduced as customer payments are received. There was $21.9 million and $2.1 million unguaranteed residual value at September 30, 2017 and December 31, 2016, respectively, included in gross finance lease receivables. There were no executory costs included in gross finance lease receivables as of September 30, 2017 and December 31, 2016.
[2]	The difference between the gross finance lease receivables and the cost of the equipment or carrying amount at the lease inception is recorded as unearned income. Unearned income, together with initial direct costs, are amortized to income over the lease term so as to produce a constant periodic rate of return. There were no unamortized initial direct costs as of September 30, 2017 and December 31, 2016.

Net Investment In Direct Fina40

Net Investment In Direct Finance Leases (Gross Finance Lease Receivables By Customer Categories) (Details) - USD ($) $ in Thousands		Sep. 30, 2017	Dec. 31, 2016
Financing Receivable, Recorded Investment [Line Items]
Gross finance lease receivables	[1]	$ 329,223	$ 123,563
Tier 1 [Member]
Financing Receivable, Recorded Investment [Line Items]
Gross finance lease receivables		273,742	74,777
Tier 2 [Member]
Financing Receivable, Recorded Investment [Line Items]
Gross finance lease receivables		55,481	48,786
Tier 3 [Member]
Financing Receivable, Recorded Investment [Line Items]
Gross finance lease receivables
[1]	At the inception of the lease, the Company records the total minimum lease payments, executory costs, if any, and unguaranteed residual value as gross finance lease receivables. The gross finance lease receivables are reduced as customer payments are received. There was $21.9 million and $2.1 million unguaranteed residual value at September 30, 2017 and December 31, 2016, respectively, included in gross finance lease receivables. There were no executory costs included in gross finance lease receivables as of September 30, 2017 and December 31, 2016.

Net Investment In Direct Fina41

Net Investment In Direct Finance Leases (Contractual Maturities Of Gross Finance Lease Receivables) (Details) - USD ($) $ in Thousands		Sep. 30, 2017	Dec. 31, 2016
Net Investment In Direct Finance Leases [Abstract]
2,018		$ 46,735
2,019		62,606
2,020		32,929
2,021		30,873
2,022		27,974
2023 and thereafter		128,106
Gross finance lease receivables	[1]	$ 329,223	$ 123,563
[1]	At the inception of the lease, the Company records the total minimum lease payments, executory costs, if any, and unguaranteed residual value as gross finance lease receivables. The gross finance lease receivables are reduced as customer payments are received. There was $21.9 million and $2.1 million unguaranteed residual value at September 30, 2017 and December 31, 2016, respectively, included in gross finance lease receivables. There were no executory costs included in gross finance lease receivables as of September 30, 2017 and December 31, 2016.

Intangible Assets (Narrative) (

Intangible Assets (Narrative) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Intangible Assets [Abstract]
Amortization expense	$ 400	$ 400	$ 1,536	$ 682

Intangible Assets (Schedule Of

Intangible Assets (Schedule Of Estimated Useful Lives) (Details)	9 Months Ended
	Sep. 30, 2017
Trademarks And Tradenames [Member] | Minimum [Member]
Finite-Lived Intangible Assets [Line Items]
Estimated useful lives	2 years
Trademarks And Tradenames [Member] | Maximum [Member]
Finite-Lived Intangible Assets [Line Items]
Estimated useful lives	3 years
Customer Relationships [Member]
Finite-Lived Intangible Assets [Line Items]
Estimated useful lives	8 years

Intangible Assets (Schedule O44

Intangible Assets (Schedule Of Intangible Assets) (Details) - USD ($) $ in Thousands	Sep. 30, 2017	Dec. 31, 2016
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 11,130	$ 12,372
Accumulated Amortization	(2,974)	(2,681)
Net Carrying Amount	8,156	9,691
Trademarks And Tradenames [Member]
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	1,786	3,028
Accumulated Amortization	(1,269)	(1,850)
Net Carrying Amount	517	1,178
Customer Relationships [Member]
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	9,344	9,344
Accumulated Amortization	(1,705)	(831)
Net Carrying Amount	$ 7,639	$ 8,513

Intangible Assets (Schedule O45

Intangible Assets (Schedule Of Estimated Future Amortization Expenses) (Details) - USD ($) $ in Thousands	Sep. 30, 2017	Dec. 31, 2016
Intangible Assets [Abstract]
2,018	$ 1,637
2,019	1,213
2,020	1,167
2,021	1,167
2,022	1,167
2023 and thereafter	1,805
Net Carrying Amount	$ 8,156	$ 9,691

Debt (Narrative) (Details)

Debt (Narrative) (Details) - USD ($) $ in Thousands	Jul. 06, 2017	Sep. 30, 2017	Dec. 31, 2016	Jan. 30, 2015
Debt Instrument [Line Items]
Net book value		$ 1,979,012	$ 1,807,010
Restricted cash		12,217	6,192
Railcars [Member]
Debt Instrument [Line Items]
Net book value		397,200
Variable Interest Entity, Primary Beneficiary [Member]
Debt Instrument [Line Items]
Net book value		58,075	$ 62,477
Variable Interest Entity, Primary Beneficiary [Member] | Containers [Member]
Debt Instrument [Line Items]
Net book value		$ 66,100
Revolving Credit Facility [Member] | CAI Rail [Member]
Debt Instrument [Line Items]
Debt instrument maturity date		Oct. 22, 2020
Average interest rate		2.70%	2.40%
Revolving Credit Facility [Member] | Consortium of Banks [Member]
Debt Instrument [Line Items]
Debt instrument maturity date		Mar. 15, 2020
Maximum credit commitment		$ 960,000		$ 775,000
Available borrowing capacity		813,900
Letters of credit outstanding		$ 100
Average interest rate		3.00%	2.50%
Revolving Credit Facility [Member] | CAI International GmbH [Member]
Debt Instrument [Line Items]
Debt instrument maturity date		Sep. 1, 2020
Average interest rate		2.00%
Term Loan [Member] | CAI Rail [Member]
Debt Instrument [Line Items]
Debt instrument maturity date		Dec. 22, 2020
Average interest rate		3.40%	3.40%
Term Loan [Member] | Development Bank of Japan [Member]
Debt Instrument [Line Items]
Debt instrument maturity date		Apr. 30, 2018
Average interest rate		3.20%	2.90%
Term Loan [Member] | Consortium of Banks, Note Dated October 1, 2014 [Member]
Debt Instrument [Line Items]
Debt instrument maturity date		Oct. 1, 2019
Average interest rate		2.80%	2.30%
Term Loan [Member] | Consortium of Banks, Note Dated April 11, 2012 [Member]
Debt Instrument [Line Items]
Debt instrument maturity date		Jun. 30, 2021
Average interest rate		3.00%	2.50%
Term Loan [Member] | Consortium Of Banks Note Dated August 30 2016 [Member]
Debt Instrument [Line Items]
Debt instrument maturity date		Aug. 1, 2021
Average interest rate		3.60%	3.60%
Term Loan [Member] | Variable Interest Entity, Primary Beneficiary [Member]
Debt Instrument [Line Items]
Debt instrument maturity date		Jun. 1, 2019
Long-term debt		$ 3,700
Average interest rate		2.70%	2.50%
Senior Secured Notes [Member]
Debt Instrument [Line Items]
Debt instrument maturity date		Sep. 13, 2022
Average interest rate		4.90%	4.90%
Asset Backed Notes [Member]
Debt Instrument [Line Items]
Debt instrument maturity date		Jun. 1, 2042
Average interest rate		3.50%	3.40%
Asset Backed Notes [Member] | Class A Asset-Backed Notes [Member]
Debt Instrument [Line Items]
Proceeds from asset backed notes	$ 240,900
Average interest rate	3.60%
Asset Backed Notes [Member] | Class B Asset-Backed Notes [Member]
Debt Instrument [Line Items]
Proceeds from asset backed notes	$ 12,200
Average interest rate	4.60%
Collateralized Financing Obligations [Member]
Debt Instrument [Line Items]
Debt instrument maturity date		Sep. 1, 2020
Long-term debt		$ 90,700
Average interest rate		1.30%	1.10%

Debt (Schedule Of Debt) (Detail

Debt (Schedule Of Debt) (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2017	Dec. 31, 2016
Debt Instrument [Line Items]
Gross Debt, Current Outstanding	$ 137,100	$ 98,753
Gross Debt, Long-term Outstanding	1,459,163	1,388,495
Debt issuance costs, Current Outstanding	(3,778)	(3,226)
Debt issuance costs, Long-term Outstanding	(8,575)	(7,996)
Total Debt, Current Outstanding	133,322	95,527
Total Debt, Long-term Outstanding	1,450,588	1,380,499
Variable Interest Entity, Primary Beneficiary [Member]
Debt Instrument [Line Items]
Total Debt, Current Outstanding	23,365	30,980
Total Debt, Long-term Outstanding	71,086	74,887
Revolving Credit Facility [Member] | CAI Rail [Member]
Debt Instrument [Line Items]
Gross Debt, Long-term Outstanding	$ 254,000	$ 223,500
Average Interest	2.70%	2.40%
Maturity	Oct. 22, 2020
Revolving Credit Facility [Member] | Consortium of Banks [Member]
Debt Instrument [Line Items]
Gross Debt, Long-term Outstanding	$ 407,000	$ 526,000
Average Interest	3.00%	2.50%
Maturity	Mar. 15, 2020
Revolving Credit Facility [Member] | CAI International GmbH [Member]
Debt Instrument [Line Items]
Total Debt, Long-term Outstanding	$ 14,534
Average Interest	2.00%
Maturity	Sep. 1, 2020
Term Loan [Member] | CAI Rail [Member]
Debt Instrument [Line Items]
Gross Debt, Current Outstanding	$ 1,188	$ 1,158
Gross Debt, Long-term Outstanding	$ 16,827	$ 17,723
Average Interest	3.40%	3.40%
Maturity	Dec. 22, 2020
Term Loan [Member] | Development Bank of Japan [Member]
Debt Instrument [Line Items]
Gross Debt, Current Outstanding	$ 22,350	$ 1,800
Gross Debt, Long-term Outstanding		$ 21,900
Average Interest	3.20%	2.90%
Maturity	Apr. 30, 2018
Term Loan [Member] | Consortium of Banks, Note Dated October 1, 2014 [Member]
Debt Instrument [Line Items]
Gross Debt, Current Outstanding	$ 9,000	$ 9,000
Gross Debt, Long-term Outstanding	$ 114,000	$ 120,750
Average Interest	2.80%	2.30%
Maturity	Oct. 1, 2019
Term Loan [Member] | Consortium of Banks, Note Dated April 11, 2012 [Member]
Debt Instrument [Line Items]
Gross Debt, Current Outstanding	$ 7,000	$ 7,000
Gross Debt, Long-term Outstanding	$ 84,250	$ 89,500
Average Interest	3.00%	2.50%
Maturity	Jun. 30, 2021
Term Loan [Member] | Consortium Of Banks Note Dated August 30 2016 [Member]
Debt Instrument [Line Items]
Total Debt, Current Outstanding	$ 2,780	$ 2,705
Total Debt, Long-term Outstanding	$ 44,270	$ 46,365
Average Interest	3.60%	3.60%
Maturity	Aug. 1, 2021
Term Loan [Member] | Variable Interest Entity, Primary Beneficiary [Member]
Debt Instrument [Line Items]
Gross Debt, Current Outstanding		$ 2,287
Gross Debt, Long-term Outstanding	$ 3,743	$ 3,541
Average Interest	2.70%	2.50%
Maturity	Jun. 1, 2019
Senior Secured Notes [Member]
Debt Instrument [Line Items]
Gross Debt, Current Outstanding	$ 6,110	$ 6,110
Gross Debt, Long-term Outstanding	$ 58,885	$ 64,995
Average Interest	4.90%	4.90%
Maturity	Sep. 13, 2022
Asset Backed Notes [Member]
Debt Instrument [Line Items]
Gross Debt, Current Outstanding	$ 65,307	$ 40,000
Gross Debt, Long-term Outstanding	$ 394,311	$ 202,875
Average Interest	3.50%	3.40%
Maturity	Jun. 1, 2042
Collateralized Financing Obligations [Member]
Debt Instrument [Line Items]
Gross Debt, Current Outstanding	$ 23,365	$ 28,693
Gross Debt, Long-term Outstanding	$ 67,343	$ 71,346
Average Interest	1.30%	1.10%
Maturity	Sep. 1, 2020

Stock-Based Compensation Plan48

Stock-Based Compensation Plan (Narrative) (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Stock Options [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Options available for grant	3,421,980		3,421,980
Vesting period of awards			4 years
Contractual term			10 years
Aggregate intrinsic value of options exercised			$ 2.2
Closing price per share	$ 30.32		$ 30.32
Stock-based compensation expense recorded	$ 0.4	$ 0.3	$ 1.2	$ 1
Remaining unamortized stock-based compensation cost	2.9		$ 2.9
Stock-based compensation cost recognition period			2 years 6 months
Aggregate intrinsic value of options outstanding	18.6		$ 18.6
Stock Options [Member] | Tranche One [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting percentage			25.00%
Stock Options [Member] | Tranche Two [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting percentage			2.083%
Stock Options [Member] | Directors [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period of awards			1 year
Restricted Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period of awards			4 years
Stock-based compensation expense recorded	0.1	$ 0.1	$ 0.4	$ 0.3
Remaining unamortized stock-based compensation cost	$ 1		$ 1
Stock-based compensation cost recognition period			2 years 7 months 6 days

Stock-Based Compensation Plan49

Stock-Based Compensation Plan (Summary Of Stock Option Activities) (Details) - Stock Options [Member] - $ / shares	9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Options outstanding at beginning of period, Number of Shares	1,428,255	1,189,255
Options granted, Number of Shares	230,500	245,000
Options exercised, Number of Shares	(240,173)
Options forfeited/cancelled, Number of Shares		(6,000)
Options outstanding at end of period, Number of Shares	1,418,582	1,428,255
Options exercisable, Number of Shares	975,087	1,033,518
Options outstanding at beginning of period, Weighted Average Exercise Price	$ 16.31	$ 18.08
Options granted, Weighted Average Exercise Price	16.80	7.87
Options exercised, Weighted Average Exercise Price	11.40
Options forfeited/cancelled, Weighted Average Exercise Price	16.94	21.99
Options outstanding at end of period, Weighted Average Exercise Price	17.22	16.31
Options exercisable, Weighted Average Exercise Price	$ 18.24	$ 17.47
Weighted average remaining term	5 years	4 years 8 months 12 days

Stock-Based Compensation Plan50

Stock-Based Compensation Plan (Summary Of Fair Value Weighted Average Assumptions) (Details) - Stock Options [Member] - $ / shares	9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock price	$ 16.80	$ 7.87
Exercise price	$ 16.80	$ 7.87
Dividend yield
Minimum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected term (years)	5 years 6 months	5 years 6 months
Expected volatility	56.40%	45.40%
Risk-free interest rate	1.77%	1.30%
Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected term (years)	6 years 3 months	6 years 3 months
Expected volatility	57.50%	46.70%
Risk-free interest rate	2.14%	1.40%

Stock-Based Compensation Plan51

Stock-Based Compensation Plan (Summary Of Restricted Stock Activity) (Details) - Restricted Stock [Member]	9 Months Ended
	Sep. 30, 2017$ / sharesshares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted stock outstanding, Beginning balance, Number of Shares of Restricted Stock | shares	65,802
Restricted stock granted, Number of Shares of Restricted Stock | shares	37,414
Restricted stock vested, Number of Shares of Restricted Stock | shares	(24,674)
Restricted stock outstanding, Ending balance, Number of Shares of Restricted Stock | shares	78,542
Restricted stock outstanding, Beginning balance, Weighted Average Grant Date Fair Value | $ / shares	$ 14.75
Restricted stock granted, Weighted Average Grant Date Fair Value | $ / shares	17.14
Restricted stock vested, Weighted Average Grant Date Fair Value | $ / shares	17.83
Restricted stock outstanding, Ending balance, Weighted Average Grant Date Fair Value | $ / shares	$ 14.92

Income Taxes (Narrative) (Detai

Income Taxes (Narrative) (Details) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016
Income Taxes [Abstract]
Effective tax rate	1.50%	38.00%
Minimum percentage realization for recognition of income tax position	50.00%
Unrecognized tax benefits	$ 0.2
Total accrued interest relating to unrecognized tax benefits	$ 0.1

Fair Value Of Financial Instr53

Fair Value Of Financial Instruments (Narrative) (Details) - USD ($) $ in Thousands	Sep. 30, 2017	Dec. 31, 2016
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Contingent consideration liability		$ 2,211
Carrying Amount [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Net investment in direct finance leases	227,900
Carrying Amount [Member] | Collateralized Financing Obligations [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term debt	90,700
Carrying Amount [Member] | Revolving Credit Facility [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term debt	675,500
Carrying Amount [Member] | Term Loan [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term debt	301,700
Carrying Amount [Member] | Senior Secured Notes [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term debt	65,000
Carrying Amount [Member] | Asset Backed Notes [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term debt	459,600
Carrying Amount [Member] | Variable Interest Entity, Primary Beneficiary [Member] | Term Loan [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term debt	3,700
Fair Value [Member] | Collateralized Financing Obligations [Member] | Level 2 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term debt	92,200
Fair Value [Member] | Asset Backed Notes [Member] | Level 2 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term debt	$ 458,000

Commitments And Contingencies (

Commitments And Contingencies (Narrative) (Details) $ in Millions	Sep. 30, 2017USD ($)
Purchase Commitment, Excluding Long-term Commitment [Line Items]
Future minimum lease payments under operating lease agreements	$ 4.3
Containers [Member]
Purchase Commitment, Excluding Long-term Commitment [Line Items]
Commitments to purchase rental equipment	63.9
Commitments to purchase rental equipment, year one	63.9
Railcars [Member]
Purchase Commitment, Excluding Long-term Commitment [Line Items]
Commitments to purchase rental equipment	150.2
Commitments to purchase rental equipment, year one	113.5
Commitments to purchase rental equipment, year two	$ 36.7

Related Party Transactions (Nar

Related Party Transactions (Narrative) (Details) - CAIJ [Member]	Mar. 31, 2016
Related Party Transaction [Line Items]
Ownership percentage by parent	80.00%
Ownership percentage by noncontrolling interest	20.00%

Segment And Geographic Inform56

Segment And Geographic Information (Schedule Of Segment Information) (Details) - USD ($) $ in Thousands		3 Months Ended			9 Months Ended
		Sep. 30, 2017		Sep. 30, 2016	Sep. 30, 2017		Sep. 30, 2016	Dec. 31, 2016
Segment Reporting Information [Line Items]
Container lease income		$ 61,870		$ 49,661	$ 169,784		$ 152,875
Rail lease income		7,279		7,614	23,459		22,462
Logistics revenue		21,012		21,197	61,116		41,743
Total revenue		90,161		78,472	254,359		217,080
Depreciation of rental equipment		27,788		29,873	82,814		77,401
Storage, handling and other expenses		3,506		8,802	16,651		27,176
Logistics transportation costs		17,855		18,045	51,608		35,127
(Gain) loss on sale of used rental equipment		(1,663)		3,323	(2,539)		7,950
Administrative expenses		10,781		11,067	31,212		28,750
Total operating expenses		58,267		71,110	179,746		176,404
Operating income		31,894		7,362	74,613		40,676
Net interest expense		13,959		10,902	37,916		31,535
Other expense		449		85	651		407
Total other expenses		14,408		10,987	38,567		31,942
Income (loss) before income taxes and non-controlling interest		17,486		(3,625)	36,046		8,734
Goodwill		15,794		15,579	15,794		15,579	$ 15,794
Total assets		2,356,157	[1]	2,027,202	2,356,157	[1]	2,027,202	$ 2,055,934	[1]
Purchase of rental equipment	[2]	149,176		40,343	277,769		170,582
Inter-Segment [Member]
Segment Reporting Information [Line Items]
Total revenue					0
Operating Segments [Member] | Container Leasing [Member]
Segment Reporting Information [Line Items]
Total revenue		61,870		49,661	169,784		152,875
Total operating expenses		30,270		45,184	99,788		121,519
Operating income		31,600		4,477	69,996		31,356
Total other expenses		11,537		9,159	30,346		27,203
Income (loss) before income taxes and non-controlling interest		20,063		(4,682)	39,650		4,153
Total assets		1,910,899		1,643,929	1,910,899		1,643,929
Purchase of rental equipment	[2]	132,405		19,730	246,378		68,183
Operating Segments [Member] | Rail Leasing [Member]
Segment Reporting Information [Line Items]
Total revenue		7,279		7,614	23,459		22,462
Total operating expenses		5,534		4,367	16,038		12,363
Operating income		1,745		3,247	7,421		10,099
Total other expenses		2,871		1,827	8,220		4,738
Income (loss) before income taxes and non-controlling interest		(1,126)		1,420	(799)		5,361
Total assets		405,118		343,214	405,118		343,214
Purchase of rental equipment	[2]	16,771		20,613	31,391		102,399
Operating Segments [Member] | Logistics [Member]
Segment Reporting Information [Line Items]
Total revenue		21,012		21,197	61,116		41,743
Total operating expenses		22,463		21,559	63,920		42,522
Operating income		(1,451)		(362)	(2,804)		(779)
Total other expenses				1	1		1
Income (loss) before income taxes and non-controlling interest		(1,451)		(363)	(2,805)		(780)
Goodwill		15,794		15,579	15,794		15,579
Total assets		$ 40,140		40,059	$ 40,140		$ 40,059
Purchase of rental equipment	[2]
[1]	Total assets at September 30, 2017 and December 31, 2016 include the following assets of certain variable interest entities (VIEs) that can only be used to settle the liabilities of those VIEs: Cash, $22,445 and $30,449; Net investment in direct finance leases, $4,423 and $7,331; and Rental equipment, net of accumulated depreciation, $58,075 and $62,477, respectively.
[2]	Represents cash disbursements for purchasing of rental equipment as reflected in the consolidated statements of cash flows for the periods indicated.

Segment And Geographic Inform57

Segment And Geographic Information (Schedule Of Geographic Allocation Of Revenue) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Revenues from External Customers and Long-Lived Assets [Line Items]
Total revenue	$ 90,161	$ 78,472	$ 254,359	$ 217,080
United States [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Total revenue	30,131	30,777	90,208	70,156
France [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Total revenue	8,938	7,138	25,600	21,447
Switzerland [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Total revenue	9,182	4,874	21,087	14,883
Japan [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Total revenue	5,132	5,368	15,199	16,806
Singapore [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Total revenue	5,345	3,846	14,669	12,486
Korea [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Total revenue	5,831	3,616	14,096	11,158
Other Asia [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Total revenue	11,151	10,184	32,614	31,475
Other Europe [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Total revenue	11,815	9,950	32,904	30,138
Other International [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Total revenue	$ 2,636	$ 2,719	$ 7,982	$ 8,531

Earnings Per Share (Narrative)

Earnings Per Share (Narrative) (Details) - shares	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Stock Options [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Securities having antidilutive effect	41,989	1,231,455	822,226	1,103,495

Earnings Per Share (Reconciliat

Earnings Per Share (Reconciliation Of Basic And Diluted Net Income Per Share) (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Earnings Per Share [Abstract]
Net income (loss) attributable to CAI common stockholders used in the calculation of basic and diluted earnings per share	$ 17,587	$ (5,451)	$ 35,497	$ 5,377
Weighted-average shares used in the calculation of basic earnings per share	19,180	19,130	19,108	19,427
Effect of dilutive securities: Stock options and restricted stock	453		314	71
Weighted-average shares used in the calculation of diluted earnings per share	19,633	19,130	19,422	19,498
Basic	$ 0.92	$ (0.28)	$ 1.86	$ 0.28
Diluted	$ 0.90	$ (0.28)	$ 1.83	$ 0.28