##### Table of Contents



UNITED STATES SECURITIES AND EXCHANGE COMMISSION
 Washington, D.C. 20549
 FORM 10-Q
 þ
    
    QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
 For the quarterly period ended March 31, 2007
 OR
 o
    
    TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
 For the transition period fromto
 Commission file number 0-23158
 CRONOS GLOBAL INCOME FUND XIV, L.P.
  California
    
    94-3163375(State or other jurisdiction of
 incorporation or organization)
    
    (I.R.S. Employer
 Identification No.)One Front Street, Suite 925, San Francisco, California
    
    94111(Address of principal executive offices)
    
    (Zip Code)
 
 þ o
  o o þ
 o þ




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CRONOS GLOBAL INCOME FUND XIV, L.P.
 Report on Form 10-Q for the Quarterly Period
Ended March 31, 2007
 TABLE OF CONTENTS


PAGEItem 1.
    
    Financial Statements
    
    3Condensed Balance Sheets  March 31, 2007 and December 31, 2006 (unaudited)
    
    4Condensed Statements of Operations for the three months ended March 31, 2007 and 2006 (unaudited)
    
    5Condensed Statements of Cash Flows for the three months ended March 31, 2007 and 2006 (unaudited)
    
    6Notes to Condensed Financial Statements (unaudited)
    
    7Item 2.
    
    Management's Discussion and Analysis of Financial Condition and Results of Operations
    
    12Item 3.
    
    Quantitative and Qualitative Disclosures About Market Risk
    
    17Item 4.
    
    Controls and Procedures
    
    17Item 4T.
    
    Controls and Procedures
    
    17PART II  OTHER INFORMATION
    
    18Item 1.
    
    Legal Proceedings
    
    18Item 1A.
    
    Risk Factors
    
    18Item 2.
    
    Unregistered Sales of Equity Securities and Use of Proceeds
    
    18Item 3.
    
    Defaults Upon Senior Securities
    
    18Item 4.
    
    Submissions of Matters to a Vote of Securities Holders
    
    18Item 5.
    
    Other Information
    
    18Item 6.
    
    Exhibits
    
    18EXHIBIT 31.1EXHIBIT 31.2EXHIBIT 32




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PART I  FINANCIAL INFORMATION
 
 Item 1.
    
    Financial StatementsPresented herein are Cronos Global Income XIV, L.P.s (the Partnership) condensed balance
sheets as of March 31, 2007 and December 31, 2006, condensed statements of operations for
the three months ended March 31, 2007 and 2006, and condensed statements of cash flows for
the three months ended March 31, 2007 and 2006, (collectively the Financial Statements)
prepared by the Partnership without audit, pursuant to the rules and regulations of the
Securities and Exchange Commission (SEC). Certain information and footnote disclosures
normally included in financial statements prepared in accordance with accounting principles
generally accepted in the United States of America have been condensed or omitted pursuant
to such rules and regulations, although the Partnership believes that the disclosures are
adequate to make the information presented not misleading. It is suggested that these
Financial Statements be read in conjunction with the financial statements and the notes
thereto included in the Partnerships December 31, 2006 Annual Report on Form 10-K. These
Financial Statements reflect, in the opinion of the Partnership and Cronos Capital Corp.
(CCC), the general partner, all adjustments (consisting only of normal recurring
adjustments) necessary to present fairly the results for the interim periods. The
statements of operations for such interim periods are not necessarily indicative of the
results for the full year.The information in this Quarterly Report on Form 10-Q contains certain forward-looking
statements within the meaning of the securities laws. These forward-looking statements
reflect the current view of the Partnership with respect to future events and financial
performance and are subject to a number of risks and uncertainties, many of which are
beyond the Partnerships control. All statements, other than statements of historical
facts included in this report, including the statements under Managements Discussion and
Analysis of Financial Condition and Results of Operations, regarding the Partnerships
strategy, future operations, financial position, estimated revenues, projected costs,
prospects, plans and objectives of the Partnership are forward-looking statements. When
used in this report, the words would, believe, anticipate, intend, estimate,
expect, project, and similar expressions are intended to identify forward-looking
statements, although not all forward-looking statements contain these identifying words.
All forward-looking statements speak only as of the date of this report. The Partnership
does not undertake any obligation to update or revise publicly any forward-looking
statements, whether as a result of new information, future events or otherwise. Although
the Partnership believes that its plans, intentions and expectations reflected in or
suggested by the forward-looking statements made in this report are reasonable, the
Partnership can give no assurance that these plans, intentions or expectations will be
achieved. Future economic and industry trends that could potentially impact revenues and
profitability are difficult to predict.
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CRONOS GLOBAL INCOME FUND XIV, L.P.
 
 Condensed Balance Sheets
 (Unaudited)
 March 31,
    
    
    December 31,2007
    
    
    2006AssetsCurrent assets:Cash and cash equivalents, includes $1,057,854 at March 31, 2007 and
$1,027,791 at December 31, 2006 in interest-bearing accounts
    
    $
    1,072,854
    
    
    $
    1,042,791Net lease and other receivables due from Leasing Company
    
    
    297,402
    
    
    
    334,430Total current assets
    
    
    1,370,256
    
    
    
    1,377,221Container rental equipment, at cost
    
    
    17,576,250
    
    
    
    19,091,024Less accumulated depreciation
    
    
    (13,993,627
    )
    
    
    (14,919,722
    )Net container rental equipment
    
    
    3,582,623
    
    
    
    4,171,302Total assets
    
    $
    4,952,879
    
    
    $
    5,548,523Partners CapitalPartners capital (deficit):General partner
    
    $
    (129,268
    )
    
    $
    (229,740
    )Limited partners
    
    
    5,082,147
    
    
    
    5,778,263Total partners capital
    
    $
    4,952,879
    
    
    $
    5,548,523
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CRONOS GLOBAL INCOME FUND XIV, L.P.
 
 Condensed Statements of Operations
 (Unaudited)
 Three Months EndedMarch 31,
    
    
    March 31,2007
    
    
    2006Net lease revenue
    
    $
    302,504
    
    
    $
    478,813Other operating income (expenses):Depreciation
    
    
    (284,730
    )
    
    
    (385,815
    )Other general and administrative expenses
    
    
    (42,097
    )
    
    
    (35,892
    )Net gain on disposal of equipment
    
    
    120,725
    
    
    
    44,666(206,102
    )
    
    
    (377,041
    )Income from operations
    
    
    96,402
    
    
    
    101,772Other income:Interest income
    
    
    11,988
    
    
    
    14,673Net income
    
    $
    108,390
    
    
    $
    116,445Allocation of net income:General partner
    
    $
    120,602
    
    
    $
    69,745Limited partners
    
    
    (12,212
    )
    
    
    46,700$
    108,390
    
    
    $
    116,445Limited partners per unit share of net income
    
    $
    
    
    
    $
    0.02
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CRONOS GLOBAL INCOME FUND XIV, L.P.
 
 Condensed Statements of Cash Flows
 (Unaudited)
 Three Months EndedMarch 31,
    
    
    March 31,2007
    
    
    2006Net cash provided by operating activities
    
    $
    339,643
    
    
    $
    545,137Cash flows from investing activities:Proceeds from sale of container rental equipment
    
    
    394,454
    
    
    
    471,671Cash flows from financing activities:Distribution to general partner
    
    
    (20,130
    )
    
    
    (36,664
    )Distribution to limited partners
    
    
    (683,904
    )
    
    
    (1,168,855
    )Net cash used in financing activities
    
    
    (704,034
    )
    
    
    (1,205,519
    )Net increase (decrease) in cash and cash equivalents
    
    
    30,063
    
    
    
    (188,711
    )Cash and cash equivalents at the beginning of the period
    
    
    1,042,791
    
    
    
    1,649,572Cash and cash equivalents at the end of the period
    
    $
    1,072,854
    
    
    $
    1,460,861
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CRONOS GLOBAL INCOME FUND XIV, L.P.
 
 Notes to Unaudited Condensed Financial Statements
 (1)
    
    Summary of Significant Accounting Policies
 (a)
    
    Nature of OperationsCronos Global Income Fund XIV, L.P. (the Partnership) is a limited partnership organized
under the laws of the State of California on July 30, 1992, for the purpose of owning and
leasing marine cargo containers worldwide to ocean carriers. The Partnerships operations
are subject to the fluctuations of world economic and political conditions. The
Partnership believes that the profitability of, and risks associated with, leases to
foreign customers is generally the same as those of leases to domestic customers. The
Partnerships leases generally require all payments to be made in United States currency.Cronos Capital Corp. (CCC) is the general partner and, with its affiliate Cronos
Containers Limited (the Leasing Company), manages the business of the Partnership. CCC
and the Leasing Company also manage the container leasing business for other partnerships
affiliated with CCC.The Partnership commenced operations on January 29, 1993 when the minimum subscription
proceeds of $2,000,000 were obtained. The Partnership offered 4,250,000 units of limited
partnership interests at $20 per unit, or $85,000,000. The offering terminated on November
30, 1993, at which time 2,984,309 limited partnership units had been sold.The Partnership is in its 15th year of operations and is in the liquidation phase wherein
CCC is focusing its attention on the retirement of the remaining equipment in the
Partnerships container fleet. At March 31, 2007, approximately 39% of the original
equipment remained in the Partnerships fleet.(b)
    
    Leasing Company and Leasing Agent AgreementA Leasing Agent Agreement exists between the Partnership and the Leasing Company,
whereby the Leasing Company has the responsibility to manage the leasing operations of all
equipment owned by the Partnership. Pursuant to the Agreement, the Leasing Company is
responsible for leasing, managing and re-leasing the Partnerships containers to ocean
carriers and has full discretion over which ocean carriers and suppliers of goods and
services it may deal with. The Leasing Agent Agreement permits the Leasing Company to use
the containers owned by the Partnership, together with other containers owned or managed by
the Leasing Company and its affiliates, as part of a single fleet operated without regard
to ownership. Since the Leasing Agent Agreement meets the definition of an operating lease
in Statement of Financial Accounting Standards (SFAS) No. 13 Accounting for Lease, it is
accounted for as a lease under which the Partnership is lessor and the Leasing Company is
lessee.The Leasing Agent Agreement generally provides that the Leasing Company will make
payments to the Partnership based upon rentals collected from ocean carriers after
deducting direct operating expenses and management fees to CCC and the Leasing Company.
The Leasing Company leases containers to ocean carriers, generally under operating leases
which are either master leases or term leases (mostly one to five years). Master leases do
not specify the exact number of containers to be leased or the term that each container
will remain on hire but allow the ocean carrier to pick up and drop off containers at
various locations, and rentals are based upon the number of containers used and the
applicable per-diem rate. Accordingly, rentals under master leases are all variable and
contingent upon the number of containers used. Most containers are leased to ocean
carriers under master leases; leasing agreements with fixed payment terms are not material
to the financial statements. Since there are no material minimum lease rentals, no
disclosure of minimum lease rentals is provided in these financial statements.
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CRONOS GLOBAL INCOME FUND XIV, L.P.
 Notes to Unaudited Condensed Financial Statements
 (c)
    
    Basis of PresentationThese unaudited consolidated financial statements have been prepared in accordance
with Generally Accepted Accounting Principles in the United States of
America (GAAP). For
interim financial information and regulation S-X, Article 10 under the Securities Exchange
Act of 1934. Certain information and footnote disclosures normally included in financial
statements prepared in accordance with GAAP have been condensed or omitted pursuant to such rules and
regulations, although the Partnership believes that the disclosures are adequate to make
the information presented not misleading. It is suggested that these financial statements
be read in conjunction with the financial statements and accompanying notes in the
Partnerships December 31, 2006 Annual Report on Form 10-K.The interim financial statements presented herewith reflect, in the opinion of
management, all adjustments of a normal recurring nature necessary to present fairly the
results for the interim periods presented. The results of operations for such interim
periods are not necessarily indicative of the results to be expected for the full year.
 (d)
    
    Use of EstimatesThe preparation of financial statements in conformity with GAAP requires the
Partnership to make estimates and assumptions that affect the reported amounts of assets
and liabilities and disclosure of contingent assets and liabilities at the date of the
financial statements and the reported amounts of revenues and expenses during the reported
period. Actual results could differ from those estimates.The most significant estimates included within the financial statements are the container
rental equipment estimated useful lives and residual values, and the estimate of future
cash flows from container rental equipment operations, used to determine the carrying value
of container rental equipment in accordance with SFAS No. 144 Accounting for the
Impairment or Disposal of Long Lived Assets.(e)
    
    Container Rental EquipmentContainer rental equipment is depreciated over a 15-year life using the straight-line basis
to its salvage value, estimated to be 10% of its original equipment cost. Depreciation
policies are also evaluated to determine whether subsequent events and circumstances
warrant revised estimates of useful lives.In accordance with SFAS No. 144, Accounting for the Impairment or Disposal of
Long-Lived Assets, container rental equipment is considered to be impaired if the carrying
value of the asset exceeds the expected future cash flows from related operations
(undiscounted and without interest charges). If impairment is deemed to exist, the assets
are written down to fair value. An analysis projecting future cash flows from container
rental equipment operations is prepared annually, or upon material changes in market
conditions.Current and projected utilization rates, per-diem rental rates, direct operating expenses,
fleet size and container disposals are the primary variables utilized in the analysis.
Additionally, the Partnership evaluates future cash flows and potential impairment by
container type rather than for each individual container, and as a result, future losses
could result for individual container dispositions due to various factors, including age,
condition, suitability for continued leasing, as well as the geographical location of
containers when disposed. There were no impairment charges to the carrying value of
container rental equipment for the three-month periods ended March 31, 2007 and 2006.
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CRONOS GLOBAL INCOME FUND XIV, L.P.
 Notes to Unaudited Condensed Financial Statements
 (f)
    
    Allocation of Net Income or Loss, Partnership Distributions and Partners
Capital AccountsNet income or loss has been allocated between the general and limited partners in
accordance with the Partnership Agreement. The Partnership Agreement generally provides
that CCC shall at all times maintain at least a 1% interest in each item of income or loss,
including the gain arising from the sale of containers. The Partnership Agreement further
provides that the gain arising from the sale of containers be allocated first to the
partners with capital account deficit balances in an amount sufficient to eliminate any
deficit capital account balance. Thereafter, the Partnerships gains arising from the sale
of containers are allocated to the partners in accordance with their share of sale proceeds
distributed. The Partnership Agreement also provides for income (excluding the gain
arising from the sale of containers) for any period, be allocated to CCC in an amount equal
to that portion of CCCs distributions in excess of 1% of the total distributions made to
both CCC and the limited partners of the Partnership for such period, as well as other
allocation adjustments.Actual cash distributions differ from the allocations of net income or loss between the
general and limited partners as presented in these financial statements. Partnership
distributions are paid to its partners (general and limited) from distributable cash from
operations, allocated 95% to the limited partners and 5% to CCC. Distributions of sales
proceeds are allocated 99% to the limited partners and 1% to CCC. The allocations remain
in effect until such time as the limited partners have received from the Partnership
aggregate distributions in an amount equal to their capital contributions plus an 8%
cumulative, compounded (daily), annual return on their adjusted capital contributions.
Thereafter, all Partnership distributions will be allocated 85% to the limited partners and
15% to CCC. Cash distributions from operations to CCC in excess of 5% of distributable
cash will be considered an incentive fee and will be recorded as compensation to CCC, with
the remaining distributions from operations charged to partners capital.Upon dissolution, the assets of the Partnership will be sold and the proceeds thereof
distributed as follows: (i) all of the Partnerships debts and liabilities to persons
other than CCC or the limited partners shall be paid and discharged; (ii) all of the
Partnerships debts and liabilities to CCC and the limited partners shall be paid and
discharged; and (iii) the balance of such proceeds shall be distributed to CCC and the
limited partners in accordance with the positive balances of CCC and the limited partners
capital accounts. CCC shall contribute to the Partnership, if necessary, an amount equal
to the lesser of the deficit balance in its capital account at the time of such
liquidation, or 1.01% of the excess of the Limited Partners capital contribution to the
Partnership over the capital contributions previously made to the Partnership by CCC, after
giving effect to the allocation of income or loss arising from the liquidation of the
Partnerships assets.
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CRONOS GLOBAL INCOME FUND XIV, L.P.
 Notes to Unaudited Condensed Financial Statements
 (2)
    
    Net Lease and Other Receivables Due from Leasing CompanyNet lease and other receivables due from the Leasing Company are determined by deducting direct
operating payables and accrued expenses, base management fees payable, and reimbursed
administrative expenses payable to CCC and its affiliates from the rental billings earned by
the Leasing Company under operating leases to ocean carriers for the containers owned by the
Partnership, as well as proceeds earned from container disposals. Net lease and other
receivables at March 31, 2007 and December 31, 2006 were as follows:
 March 31,
    
    
    December 31,2007
    
    
    2006Gross lease and other receivables
    
    $
    613,353
    
    
    $
    679,307Less:Direct operating payables and accrued expenses
    
    
    152,723
    
    
    
    197,703Base management fees payable (receivable)
    
    
    14,148
    
    
    
    (1,195
    )Reimbursed administrative expenses
    
    
    8,356
    
    
    
    8,774Allowance for doubtful accounts
    
    
    140,724
    
    
    
    139,595315,951
    
    
    
    344,877Net lease and other receivables
    
    $
    297,402
    
    
    $
    334,430
 (3)
    
    Net Lease RevenueNet lease revenue is recorded by the Partnership in each period based upon its leasing agent
agreement with the Leasing Company. Net lease revenue is generally dependent upon operating
lease rentals from operating lease agreements between the Leasing Company and its various
lessees, less direct operating expenses, management fees and reimbursed administrative expenses
incurred in respect of the containers specified in each operating lease agreement. Net lease
revenue for the three-month periods ended March 31, 2007 and 2006 were as follows:
 Three Months EndedMarch 31,
    
    
    March 31,2007
    
    
    2006Rental revenue
    
    $
    406,338
    
    
    $
    628,335Less:Rental equipment operating expenses
    
    
    52,239
    
    
    
    63,884Base management fees
    
    
    27,954
    
    
    
    43,852Reimbursed administrative expensesSalaries
    
    
    15,749
    
    
    
    30,575Other payroll related expenses
    
    
    2,955
    
    
    
    4,239General and administrative expenses
    
    
    4,937
    
    
    
    6,972Total reimbursed administrative expenses
    
    
    23,641
    
    
    
    41,786103,834
    
    
    
    149,522Net lease revenue
    
    $
    302,504
    
    
    $
    478,813
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CRONOS GLOBAL INCOME FUND XIV, L.P.
 Notes to Unaudited Condensed Financial Statements
 (4)
    
    Operating SegmentAn operating segment is a component of an enterprise that engages in business activities from
which it may earn revenues and incur expenses, whose operating results are regularly reviewed
by the enterprises chief operating decision maker to make decisions about resources to be
allocated to the segment and assess its performance, and about which separate financial
information is available. Management operates the Partnerships container fleet as a
homogenous unit and have determined that as such, it has a single reportable operating segment.The Partnership derives revenues from dry cargo and refrigerated containers used by its
customers in global trade routes. As of March 31, 2007, the Partnership operated 3,737
twenty-foot 1,262 forty-foot and 144 forty-foot high-cube marine dry cargo containers, as well
as 157 twenty-foot and three forty-foot marine refrigerated containers. A summary of gross
lease revenue earned by the Leasing Company, on behalf of the Partnership, by product, for the
three-month periods ended March 31, 2007 and 2006 follows:
 Three Months EndedMarch 31,
    
    
    March 31,2007
    
    
    2006Dry cargo containers
    
    $
    330,523
    
    
    $
    495,068Refrigerated containers
    
    
    75,815
    
    
    
    133,267Total
    
    $
    406,338
    
    
    $
    628,335
 Due to the Partnerships lack of information regarding the physical location of its fleet
of containers when on lease in the global shipping trade, the Partnership believes that it does
not possess discernible geographic reporting segments as defined in SFAS No. 131 (SFAS 131),
Disclosures about Segments of an Enterprise and Related Information.(5)
    
    The Cronos GroupThe Cronos Group (the Parent Company) announced on February 28, 2007 the proposed sale of the
Parent Company to CRX Acquisition Ltd. (Purchaser), an affiliate of the Fortis group of
companies, which include the Parent Companys lead lender and a partner in the Parent Companys
Joint Venture Program. The Parent Company is the indirect corporate parent of CCC, the general
partner of the Partnership. The Parent Company reported the proposed sale in its 8-K report of
March 2, 2007. Consummation of the transaction requires the approval of the Parent Companys
shareholders, which will be sought at the Parent Companys 2007 annual meeting. The proxy
statement for that meeting will contain detailed disclosures regarding the transaction. As
proposed, the transaction consists of the sale of all of the Parent Companys assets to CRX and
the assumption by CRX of all of its liabilities. In connection with the proposed sale, the
Parent Company will submit to its shareholders a plan of liquidation, providing for the
liquidation of the Parent Company promptly after sale of its assets to CRX and CRXs assumption
of the Parent Companys liabilities. If approved by the Parent Companys shareholders, and the
transaction closes, the Parent Company will liquidate and dissolve, and its business will be
continued by CRX as a private company. The management of the Parent Company will continue as
the management of CRX, and members of the senior management of the Parent Company will acquire
an equity interest in the Purchaser. The Parent Company anticipates a closing of the
transaction this summer.CCC does not anticipate any changes in its management, or in the Leasing Companys ability to
manage the Partnerships fleet in subsequent periods, but is unable to determine the impact, if
any, the Parent Companys sale may have on the future operating results, financial condition
and cash flows of the Partnership or CCC.
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Managements Discussion and Analysis of Financial Condition and Results of
Operations
  Market Overview
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Results of Operations
   
    
    Activity-related expenses, including agent and depot costs such as repairs,
maintenance and handling.
    
    Inventory-related expenses for off-hire containers, comprising storage and
repositioning costs. These costs are sensitive to the quantity of off-hire containers
as well as the frequency at which containers are re-delivered.
    
    Legal and other expenses, including legal costs related to the recovery of containers
and doubtful accounts, insurance and provisions for doubtful accounts.
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Dry Cargo
    
    
    RefrigeratedContainers
    
    
    Containers40-Foot20-Foot
    
    
    40-Foot
    
    
    High-Cube
    
    
    20-Foot
    
    
    40-FootContainers on lease:Master lease
    
    
    2,253
    
    
    
    689
    
    
    
    112
    
    
    
    86
    
    
    
    2Term leaseShort term1
    
    
    1,267
    
    
    
    486
    
    
    
    15
    
    
    
    19
    
    
    
    Long term2
    
    
    128
    
    
    
    21
    
    
    
    2
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    2
    
    
    
    1Subtotal
    
    
    3,648
    
    
    
    1,196
    
    
    
    129
    
    
    
    107
    
    
    
    3Containers off lease
    
    
    89
    
    
    
    66
    
    
    
    15
    
    
    
    50
    
    
    
    Total container fleet
    
    
    3,737
    
    
    
    1,262
    
    
    
    144
    
    
    
    157
    
    
    
    3
 
 1.
    
    Short term leases represent term leases that are either scheduled for renegotiation or
that may expire on or before March 2008.2.
    
    Long term leases represent term leases, the majority of which will expire between April
2008 and December 2011. Dry Cargo
    
    
    RefrigeratedContainers
    
    
    Containers40-Foot20-Foot
    
    
    40-Foot
    
    
    High-Cube
    
    
    20-Foot
    
    
    40-FootUnits
    
    
    %
    
    
    Units
    
    
    %
    
    
    Units
    
    
    %
    
    
    Units
    
    
    %
    
    
    Units
    
    
    %Total purchases
    
    
    8,778
    
    
    
    100
    %
    
    
    3,612
    
    
    
    100
    %
    
    
    216
    
    
    
    100
    %
    
    
    511
    
    
    
    100
    %
    
    
    350
    
    
    
    100
    %Less disposals
    
    
    5,041
    
    
    
    57
    %
    
    
    2,350
    
    
    
    65
    %
    
    
    72
    
    
    
    33
    %
    
    
    354
    
    
    
    69
    %
    
    
    347
    
    
    
    99
    %Remaining fleet at March 31, 2007
    
    
    3,737
    
    
    
    43
    %
    
    
    1,262
    
    
    
    35
    %
    
    
    144
    
    
    
    67
    %
    
    
    157
    
    
    
    31
    %
    
    
    3
    
    
    
    1
    %
 Three Months Ended March 31, 2007 Compared to the Three Months Ended March 31, 2006
 Net lease revenue
 Three Months EndedMarch 31,
    
    March 31,2007
    
    2006Fleet size (measured in twenty-foot equivalent units (TEU))Dry cargo containers
    
    
    6,763
    
    
    
    8,878Refrigerated containers
    
    
    182
    
    
    
    299Average utilization ratesDry cargo containers
    
    
    97
    %
    
    
    91
    %Refrigerated containers
    
    
    70
    %
    
    
    74
    %
 Depreciation expense
 Other general and administrative expenses
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Net gain on disposal of equipment
  Liquidity and Capital Resources
     15




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Cash from Operating Activities:
 Cash from Investing Activities:
 Cash from Financing Activities
 Critical Accounting Policies
  
    
    Container equipment  depreciable lives and residual values
    
    Container equipment  recoverability and valuation in accordance with SFAS 144
Accounting for the Impairment or Disposal of Long Lived Assets
    
    Allowance for doubtful accounts
  Inflation
  The Cronos Group
   16




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Quantitative and Qualitative Disclosures About Market Risk
 Exchange rate risk:
 
 Controls and Procedures
   
 Controls and Procedures
  17




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##### Table of Contents



PART II  OTHER INFORMATION
 
 Item 1.
    
    Legal ProceedingsNot applicable.
 
 Item 1A.
    
    Risk FactorsThere are no material changes from the risk factors as previously disclosed in the
Partnerships December 31, 2006 Form 10-K in response to Item 1A to Part I of Form 10-K.
 
 Item 2.
    
    Unregistered Sales of Equity Securities and Use of ProceedsNot applicable.
 
 Item 3.
    
    Defaults Upon Senior SecuritiesNot applicable.
 
 Item 4.
    
    Submissions of Matters to a Vote of Securities HoldersNot applicable.
 
 Item 5.
    
    Other InformationNot applicable.
 
 Item 6.
    
    Exhibits
  ExhibitNo.
    
    Description
    
    Method of Filing3(a)
    
    Limited Partnership Agreement, amended
and restated as of December 2, 1992
    
    *3(b)
    
    Certificate of Limited Partnership
    
    **10
    
    Form of Leasing Agent Agreement with
Cronos Containers Limited
    
    ***31.1
    
    Rule 13a-14 Certification
    
    Filed with this document31.2
    
    Rule 13a-14 Certification
    
    Filed with this document32
    
    Section 1350 Certification
    
    Filed with this document****
 
 *
    
    Incorporated by reference to Exhibit A to the Prospectus of the Partnership dated December
2, 1992, included as part of Registration Statement on Form S-1 (No. 33-51810)**
    
    Incorporated by reference to Exhibit 3.2 to the Registration Statement on Form S-1 (No.
33-51810)***
    
    Incorporated by reference to Exhibit 10.2 to the Registration Statement on Form S-1 (No. 33-51810)****
    
    This certification, required by Section 906 of the Sarbanes-Oxley Act of 2002, other than as
required by Section 906, is not to be deemed filed with the Commission or subject to the
rules and regulations promulgated by the Commission under the Securities Exchange Act of 1934,
as amended, or to the liabilities of Section 18 of said Act. 18




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SIGNATURES
  CRONOS GLOBAL INCOME FUND XIV, L.P.By
    
    Cronos Capital Corp.The General PartnerBy
    
    /s/ Dennis J. TietzDennis J. TietzPresident and Director of Cronos Capital Corp. (CCC)

Principal Executive Officer of CCCBy
    
    /s/ John KallasJohn KallasChief Financial Officer and
Director of Cronos Capital Corp. (CCC)

Principal Financial and Accounting Officer of CCCDate: May 11, 2007
 19




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##### Table of Contents



EXHIBIT INDEX
 ExhibitNo.
    
    Description
    
    Method of Filing3(a)
    
    Limited Partnership Agreement, amended
and restated as of December 2, 1992
    
    *3(b)
    
    Certificate of Limited Partnership
    
    **10
    
    Form of Leasing Agent Agreement with
Cronos Containers Limited
    
    ***31.1
    
    Rule 13a-14 Certification
    
    Filed with this document31.2
    
    Rule 13a-14 Certification
    
    Filed with this document32
    
    Section 1350 Certification
    
    Filed with this document****
 
 *
    
    Incorporated by reference to Exhibit A to the Prospectus of the Partnership dated December
2, 1992, included as part of Registration Statement on Form S-1 (No. 33-51810)**
    
    Incorporated by reference to Exhibit 3.2 to the Registration Statement on Form S-1 (No.
33-51810)***
    
    Incorporated by reference to Exhibit 10.2 to the Registration Statement on Form S-1 (No.
33-51810)****
    
    This certification, required by Section 906 of the Sarbanes-Oxley Act of 2002, other than as
required by Section 906, is not to be deemed filed with the Commission or subject to the
rules and regulations promulgated by the Commission under the Securities Exchange Act of 1934,
as amended, or to the liabilities of Section 18 of said Act.