SEGMENT AND REVENUE INFORMATION The Company operates in two reportable segments. The CAM segment consists of the Company's aircraft leasing operations. The ACMI Services segment consists of the Company's airline operations, including CMI agreements as well as ACMI, charter service and passenger service agreements that the Company has with its customers. The Company's aircraft maintenance services, aircraft modification services, ground services and other services, are not large enough to constitute reportable segments and are combined in all other. Intersegment revenues are valued at arms-length market rates. The Company's segment information from continuing operations is presented below (in thousands): Three Months Ending Six Months Ending June 30, June 30, 2020 2019 2020 2019 Total revenues: CAM $ 74,870 $ 69,256 $ 149,033 $ 139,606 ACMI Services 287,604 254,938 571,769 512,894 All other 77,056 71,104 157,092 138,466 Eliminate inter-segment revenues (61,736) (60,722) (110,823) (108,207) Total $ 377,794 $ 334,576 $ 767,071 $ 682,759 Customer revenues: CAM 49,959 39,953 96,695 81,562 ACMI Services 287,595 254,869 571,756 512,822 All other 40,240 39,754 98,620 88,375 Total $ 377,794 $ 334,576 $ 767,071 $ 682,759 ACMI Services revenues are generated from airline service agreements and are typically based on hours flown, cycles operated, the number of aircraft operated and crew resources provided during a month. ACMI Services revenues are recognized over time using the invoice practical expedient as flight hours are performed for the customer. Certain agreements include provisions for incentive payments based upon on-time reliability. These incentives are measured on a monthly basis and recorded to revenue in the corresponding month earned. Under CMI agreements, the Company's airlines have an obligation to provide integrated services including flight crews, aircraft maintenance and insurance for the customer's cargo network. Under ACMI agreements, the Company's airlines are also obligated to provide aircraft. Under CMI and ACMI agreements, customers are generally responsible for aviation fuel, landing fees, navigation fees and certain other flight expenses. When functioning as the customers' agent for arranging such services, the Company records amounts reimbursable from the customer as revenues net of the related expenses as the costs are incurred. Under charter agreements, the Company's airline is obligated to provide full services for one or more flights having specific origins and destinations. Under charter agreements in which the Company's airline is responsible for fuel, airport fees and all flight services, the related costs are recorded in operating expenses. Any sales commissions paid for charter agreements are generally expensed when incurred because the amortization period is less than one year. ACMI Services are invoiced monthly or more frequently. (There are no customer rewards programs associated with services offered by the Company nor does the Company sell passenger tickets or issue freight bills.) The Company's revenues for customer contracts for airframe maintenance and aircraft modification services that do not have an alternative use and for which the Company has an enforceable right to payment are generally recognized over time based on the percentage of costs completed. Services for airframe maintenance and aircraft modifications typically have project durations lasting a few weeks to a few months. Other revenues for aircraft part sales, component repairs and line service are recognized at a point in time typically when the parts are delivered to the customer and the services are completed. For airframe maintenance, aircraft modifications and aircraft component repairs, contracts include assurance warranties that are not sold separately. The Company records revenues and estimated earnings over time for its airframe maintenance and aircraft modification contracts using the costs to costs input method. For such services, the Company estimates the earnings on a contract as the difference between the expected revenue and estimated costs to complete a contract and recognizes revenues and earnings based on the proportion of costs incurred compared to the total estimated costs. Unexpected or abnormal costs that are not reflected in the price of a contract are excluded from calculations of progress toward contract obligations. The Company's estimates consider the timing and extent of the services, including the amount and rates of labor, materials and other resources required to perform the services. These production costs are specifically planned and monitored for regulatory compliance. The expenditure of these costs closely reflect the progress made toward completion of an airframe maintenance and aircraft modification project. The Company recognizes adjustments in estimated earnings on a contract under the cumulative catch-up method in which the impact of the adjustment on estimated earnings of a contract is recognized in the period the adjustment is identified. The Company's ground services revenues include load transfer and sorting services, facility and equipment maintenance services. These revenues are recognized as the services are performed for the customer over time. Revenues from related facility and equipment maintenance services are recognized over time and at a point in time depending on the nature of the customer contracts. The Company's external customer revenues from other activities for the three and six month periods ended June 30, 2020 and 2019 are presented below (in thousands): Three Months Ended Six Months Ended June 30, June 30, 2020 2019 2020 2019 Aircraft maintenance, modifications and part sales $ 18,851 $ 23,303 $ 52,686 $ 57,284 Ground services 16,003 15,775 30,611 29,713 Other, including aviation fuel sales 5,386 676 15,323 1,378 Total customer revenues $ 40,240 $ 39,754 $ 98,620 $ 88,375 CAM's aircraft lease revenues are recognized as operating leases on a straight-line basis over the term of the applicable lease agreements. Customer payments for leased aircraft and equipment are typically paid monthly in advance. CAM's leases do not contain residual guarantees. Approximately 13% of CAM's leases to external customers contain purchase options at projected market values. As of June 30, 2020, minimum future payments from external customers for leased aircraft and equipment were scheduled to be $97.9 million for the remainder of 2020, $188.6 million, $162.0 million, $120.1 million, and $85.6 million, respectively, for each of the next four years ending December 31, 2024 and $214.2 million thereafter. As of December 31, 2019, minimum future payments from external customers for leased aircraft and equipment were scheduled to be $186.8 million, $178.2 million, $152.0 million, $110.1 million and $75.5 million, respectively, for each of the next 5 years ending December 31, 2024 and $186.2 million thereafter. For customers that are not a governmental agency or department, the Company generally receives partial payment in advance of services, otherwise customer balances are typically paid within 30 to 60 days of service. During the three and six month periods ending June 30, 2020 and 2019, the Company recognized $1.6 million and $2.8 million of non lease revenue that was reported in deferred revenue at the beginning of the respective period, respectively, compared to $0.6 million and $2.8 million in the corresponding periods of 2019. Deferred revenue was $4.9 million and $3.0 million at June 30, 2020 and December 31, 2019, respectively, for contracts with customers. Segment earnings, as used by the Company's management, includes an allocation of interest expense based on a reportable segments' assets. Segment earnings does not include asset impairment charges or the recognition of CARES Act grants. The Company's other segment information from continuing operations is presented below (in thousands): Three Months Ending Six Months Ending June 30, June 30, 2020 2019 2020 2019 Segment earnings (loss): CAM $ 19,640 $ 16,683 $ 35,460 $ 32,857 ACMI Services 19,684 973 38,062 13,283 All other (2,244) 4,006 (2,191) 5,909 Net unallocated interest expense (681) (903) (1,336) (1,683) Government grants 9,821  9,821  Impairment of aircraft and related assets (39,075)  (39,075)  Other non-service components of retiree benefit costs, net 2,898 (2,351) 5,796 (4,702) Net loss on financial instruments (109,723) (35,886) (2,679) (31,386) Loss from non-consolidated affiliate (6,513) (5,998) (9,277) (9,814) Transaction fees    (373) Pre-tax earnings from continuing operations $ (106,193) $ (23,476) $ 34,581 $ 4,091 Depreciation and amortization expense: CAM $ 42,024 $ 38,723 85,071 77,518 ACMI Services 25,384 23,865 50,696 46,960 All other 883 678 1,866 1,425 Total $ 68,291 $ 63,266 $ 137,633 $ 125,903 Interest expense CAM 9,707 9,379 19,962 19,344 ACMI Services 5,645 6,441 10,946 12,990 The Company's assets are presented below by segment (in thousands). Cash and cash equivalents are reflected in Assets - All other. June 30, December 31, 2020 2019 Assets: CAM $ 1,959,860 $ 1,857,687 ACMI Services 820,129 830,620 Discontinued operations 2,508 1,499 All other 154,635 130,372 Total $ 2,937,132 $ 2,820,178 During the first six months of 2020, the Company had capital expenditures for property and equipment of $41.7 million and $220.5 million for the ACMI Services and CAM, respectively.