CAI International, Inc. (CAI) is a container leasing and management company. The Company operates in two segments: container management and container leasing. The Company purchase containers, lease them to container shipping lines, freight forwarders and others and either retain them as part of its owned fleet or sell them to container investors for whom the Company then provide management services. In operating its fleet, it leases, re-leases and disposes of containers and contract for the repair, repositioning and storage of containers. As of December 31, 2011, its fleet consisted of 928,655 20-foot equivalent units (TEUs), 50.7% of which represented its owned fleet and 49.3% of which represented the Company�s managed fleet. On December 20, 2011, the Company formed CAI Rail Inc. (CAI Rail), as a wholly owned subsidiary.