ࡱ> OP l \pThe Free Software Foundation B=PF0*8X@"1 Helvetica1Courier1 Courier New1 Courier New1 Helvetica$#,##0_);($#,##0)$#,##0_);[Red]($#,##0)$#,##0.00_);($#,##0.00)$#,##0.00_);[Red]($#,##0.00)-**_($* #,##0_);_($* (#,##0);_($* "-"_);_(@_)*)'_(* #,##0_);_(* (#,##0);_(* "-"_);_(@_)5,2_($* #,##0.00_);_($* (#,##0.00);_($* "-"??_);_(@_)2+/_(* #,##0.00_);_(* (#,##0.00);_(* "-"??_);_(@_)2$#,##0.00;[Red]$#,##0.003$#,##0.00;[Red]($#,##0.00)4$#,##0;[Red]($#,##00)50.00%;[Red](0.00%)6 0%;[Red](0%)7#,##0.00;[Red](#,##0.00)8#,##0;[Red](#,##0)                + ) , *   Ј ~~ ؈ ~~#؈ ~~ ؈ ~~9#܈ ~~4#܈ ~~8#܈ ~~3#܈ ~~83ffff̙̙3f3fff3f3f33333f33i SIGNATURES$ Balance Sheet1Income StatementX Cash Flows x Highlights̐Highlights (1) l    dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/?? Balance SheetIncome Statement Cash Flows HighlightsHighlights (1)U } } $ } } $} $      CAI International, Inc. 8-K 07/31/2018 SIGNATURESCAI INTERNATIONAL, INC.           Dated: July 31, 2018  By: /s/ Timothy B. Page     Name: Timothy B. Page    & Title: Chief Financial Officer $____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/*wh~r7Yn=PF0*8X> @" l  Q)0  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/?? SIGNATURESIncome Statement Cash Flows HighlightsHighlights (1)U } >} $ }  } $ }  } $ Q                                 CAI International, Inc. 8-K 07/31/2018 Balance Sheet CAI International, Inc.# Consolidated Balance Sheets0 ((In thousands, except share information)  (UNAUDITED)     June 30, December 31,~ ~ AssetsCurrent assets Cash~ :~ >/'Cash held by variable interest entities~ r|~ 6C-%Accounts receivable, net of allowance~ >~ +2*for doubtful accounts of $2,110 and $1,440<4at June 30, 2018 and December 31, 2017, respectively3+Current portion of net investment in direct~ &K~ finance leases1)Prepaid expenses and other current assets~ '~ BTotal current assets~  ~ FmRestricted cash~ *I~ 691Rental equipment, net of accumulated depreciation~ c~ _z1)of $550,426 and $505,546 at June 30, 2018+#and December 31, 2017, respectively/'Net investment in direct finance leases~ ~  D% l{o3bFSHvV! ! " # $ % & ' ( ) * + , - . / 0 1 2 3 4 5 6 7 8 9 : ; < = > ?  Goodwill  ~    ~  -!%Intangible assets, net of accumulated!!~ !g!!!~ !x!1")amortization of $4,493 and $3,407 at June4#,30, 2018 and December 31, 2017, respectively.$&Furniture, fixtures and equipment, net$$~ $B$$$~ $J$-%%of accumulated depreciation of $3,2650&(and $3,201 at June 30, 2018 and December'31, 2017, respectively (Other non-current assets((~ (>(((~ (/() Total assets)~ )* ))~ )3)*****,+$Liabilities and Stockholders' Equity++++,Current liabilities,,,,-Accounts payable-~ - f--~ -^z-6..Accrued expenses and other current liabilities..~ . ...~ .j."/Due to container investors//~ ////~ //0Unearned revenue00~ 0u000~ 0z01Current portion of debt11~ 1 111~ 1F1 2Rental equipment payable22~ 2 ? 222~ 22!3Total current liabilities33~ 3>333~ 33 4Debt44~ 4f444~ 4V_4%5Deferred income tax liability55~ 5C555~ 56056Total liabilities66~ 6666~ 6nq6777778Stockholders' equity888849,Preferred stock, par value $.0001 per share;99~ 9:[999~ 99.:&authorized 10,000,000 and 5,000,000 at:;2June 30, 2018 and December 31, 2017, respectively;-<%8.50% Series A fixed-to-floating rate5=-cumulative redeemable, issued and outstanding3>+2,199,610 and 0 shares at June 30, 2018 and7?/December 31, 2017, respectively, at liquidationDli}A*svh,@f@ A B C D E F G H I J K L M N O P @ preference1A)Common stock: par value $.0001 per share;AA~ A AAA~ A A,B$authorized 84,000,000 shares; issued1C)and outstanding 19,306,377 and 20,390,6220D(shares at June 30, 2018 and December 31,E2017, respectively"FAdditional paid-in capitalFF~ FFFF~ F F,G$Accumulated other comprehensive lossGG~ GGGG~ GZGHRetained earningsHH~ H{HHH~ H"EH"ITotal stockholders' equityII~ I2`&III~ Ij"I2J*Total liabilities and stockholders' equityJ~ J* JJ~ J3JKKKKKKKKKLM$N____________________________1O)Created by Morningstar Document Research.0P(http://documentresearch.morningstar.com/&z@Q!|qwkC=PF0*8X> @PPOONNJJJJ----))))     l  ;E%W  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/?? SIGNATURES Balance Sheet Cash Flows HighlightsHighlights (1)U } y<} $ }  } $ }  }  $ } } $ }  } $ ;     CAI International, Inc. 8-K 07/31/2018Income StatementCAI International, Inc.) !Consolidated Statements of Income- %(In thousands, except per share data)  (UNAUDITED)            Three Months Ended  Six Months EndedJune 30,  June 30,~ ~  ~   ~ Revenue   Container lease revenue~ +~ Z ~    ~ *Rail lease revenue~ ~~ ~  ~    ~ Logistics revenue~ v~ V2  ~     ~ r Total revenue~ s~    ~  E   ~     Operating expenses   ( Depreciation of rental equipment~ j~   ~  &  ~ [,$Storage, handling and other expenses~ (~ `  ~  h  ~ f&Logistics transportation costs~ *|~   ~  Ο  ~ f-%Gain on sale of used rental equipment~ ~   ~  :  ~ RAdministrative expenses~ ~ F  ~  m  ~ >? Total operating expenses~ ~   ~    ~ j   Operating income~ o~   ~  .  ~ ~   DdlxlIh J6Qpl !"#$%&'()*+,-./0123456789: Other expenses        !Net interest expense!!~ !" !!!~ !!! ! ~ ! .(! ! !~ !Vv!"Other expense (income)""~ """"~ "B"" " ~ " *" " "~ "*"#Total other expenses##~ #&###~ #6## # ~ # V.# # #~ #~y#$$$$$$ $ $ $"%Income before income taxes%%~ %H%%%~ %%% % ~ % _% % %~ %"%$&Income tax expense (benefit)&&~ & &&&~ &V&& & ~ & & & &~ &* &'''''' ' ' '( Net income((~ (&=(((~ (z(( ( ~ ( H( ( (~ ((!)Preferred stock dividends))~ ))))~ ))) ) ~ ) F) ) )~ )):*2Net income attributable to CAI common stockholders*~ *6+**~ *z** ~ * 6* * ~ **++++++ + + +,,,,,, , , ,0-(Net income per share attributable to CAI----- - - -.common stockholders /Basic//\(\?///Q?// / (\?/ / /Gz?/0Diluted00 ףp= ?000?00 0 p= ף?0 0 0(\?0111111 1 1 1+2#Weighted average shares outstanding22222 2 2 2 3Basic33~ 3v2333~ 3*33 3 ~ 3 83 3 3~ 3)34Diluted44~ 46444~ 4n/44 4 ~ 4 <4 4 4~ 4.45555555555 5 5 5 5 55567$8____________________________19)Created by Morningstar Document Research.0:(http://documentresearch.morningstar.com/:`r8Ku 1v {=PF0*8X> @::9988000000 00////// //****** **         l  @f w  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/?? SIGNATURES Balance SheetIncome Statement HighlightsHighlights (1)U } y<} $ }  } $ }  } $ @                                 CAI International, Inc. 8-K 07/31/2018 Cash FlowsCAI International, Inc.- %Consolidated Statements of Cash Flows- %(In thousands, except per share data)  (UNAUDITED)        Six Months EndedJune 30,~ ~ ,$Cash flows from operating activities Net income~ H~ .&Adjustments to reconcile net income to2*net cash provided by operating activities: Depreciation~ >~ ^+#Amortization of debt issuance costs~ !~ j)!Amortization of intangible assets~ ~ :( Stock-based compensation expense~ ~ -%Reduction in contingent consideration~ ~ &+#Unrealized loss on foreign exchange~ *~ -%Gain on sale of used rental equipment~ :~ RDeferred income taxes~ ~ n#Bad debt expense (recovery)~ ~ :2Changes in other operating assets and liabilities:Accounts receivable~ !~ )!Prepaid expenses and other assets~ B~ D_ l~rOf:8$pH.5 ! " # $ % & ' ( ) * + , - . / 0 1 2 3 4 5 6 7 8 9 : ; < = > ? . &Accounts payable, accrued expenses and  ~    ~  !!other current liabilities""Due to container investors""~ """"~ """#Unearned revenue##~ ####~ ##1$)Net cash provided by operating activities$$~ $2$$$~ $$,%$Cash flows from investing activities%%%%$&Purchase of rental equipment&&~ &f&&&~ &&&3'+Proceeds from sale of used rental equipment''~ 'ʍ'''~ '2-'5(-Purchase of furniture, fixtures and equipment((~ ((((~ ((1))Receipt of principal payments from direct))~ )))))~ ))*finance leases-+%Net cash used in investing activities++~ ++++~ +R+,,$Cash flows from financing activities,,,,-Proceeds from debt--~ -;+---~ -w -".Principal payments on debt..~ .e...~ .y./Debt issuance costs//~ ////~ //'0Proceeds from issuance of stock00~ 0u000~ 00"1Repurchase of common stock11~ 1ZK111~ 11!2Exercise of stock options22~ 2b222~ 2203(Net cash provided by (used in) financing33~ 3b 333~ 334 activities65.Effect on cash of foreign currency translation55~ 5555~ 55'6Net increase (decrease) in cash66~ 6.666~ 6607(Cash and restricted cash at beginning of77~ 7777~ 7178 the period59-Cash and restricted cash at end of the period9~ 999~ 9*9:::::::::;<$=____________________________1>)Created by Morningstar Document Research.0?(http://documentresearch.morningstar.com/DljE;B~6TG. Y2+=PF0*8X> @z??>>==9999     l  2  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/?? SIGNATURES Balance SheetIncome Statement Cash FlowsHighlights (1)U } 7} $ }  } $ }  } $ } y} $ } y 2                                 CAI International, Inc. 8-K 07/31/2018 HighlightsCAI International, Inc.  Fleet Data  (UNAUDITED)                As of June 30,      ~  ~ %Owned container fleet in TEUs~ N~ :'Managed container fleet in TEUs~ ½~  %Total container fleet in TEUs~ S~ C%Owned container fleet in CEUs~ *R~ @'Managed container fleet in CEUs~ Q~ 4%Total container fleet in CEUs~ fV~ ;H$Owned railcar fleet in units~ t~ fThree Months EndedSix Months EndedJune 30,June 30,~ ~ ~ ~ Average Utilization+#Container fleet utilization in CEUs 99.3% 97.1% 99.3% 96.3%1)Owned container fleet utilization in CEUs 99.3% 97.2% 99.3% 96.5%D l~rO9"Tx\cGNV@M ! " # $ % & ' ( ) * + , - . / 0 1 6 .Railcar fleet utilization in units - excluding  87.2%  91.0%  87.6%  91.8% !new units not yet leased6".Railcar fleet utilization in units - including" "77.9%" "80.4%" "76.6%" "81.1% #new units not yet leased$$$$$$$$$%%%%%%%As of June 30,&&&&&&~ &&~ &!'Period Ending Utilization''''''''+(#Container fleet utilization in CEUs((((( (99.2%( (97.6%1))Owned container fleet utilization in CEUs))))) )99.2%) )97.7%6*.Railcar fleet utilization in units - excluding***** *87.8%* *90.5% +new units not yet leased6,.Railcar fleet utilization in units - including,,,,, ,79.4%, ,80.1% -new units not yet leased.$/____________________________10)Created by Morningstar Document Research.01(http://documentresearch.morningstar.com/(4TR.\a=PF0*8X> @b 1100//%%    l  &˙@  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/?? SIGNATURES Balance SheetIncome Statement Cash Flows HighlightsU } $ &     CAI International, Inc. 8-K 07/31/2018 Highlights- %Utilization of containers is computed4 ,by dividing the total units on lease in CEUs3 +(cost equivalent units), by the total units in our fleet in CEUs.. &The total container fleet excludes new/'units not yet leased and off-hire unitsdesignated for sale..&Utilization of railcars is computed by0(dividing the total number of railcars on0(lease by the total number of railcars in our fleet..&The impact on utilization of including5-new units not yet leased in the total railcar3+fleet has been included in the table above.1)CEU is a ratio used to convert the actual5-number of containers in our fleet to a figure0(based on the relative purchase prices of0(our various equipment types to that of a/'standard 20 foot dry van container. For0(example, the CEU ratio for a standard 404,foot dry van container is 1.6, and a 40 foot#high cube container is 1.7.Dl~rN[(nX&]$U !"#$% !"$#____________________________1$)Created by Morningstar Document Research.0%(http://documentresearch.morningstar.com/-d=PF0*8X> @%%$$##      Root Entry FBook  ]  !"#$%&'()*+,-./0123456789:;<=>?@ABCDEFGHIJKLMN