Fair Value Disclosure (Tables)

6 Months Ended

Jun. 30, 2013

Fair Value Disclosures [Abstract]

Assets and Liabilities at Fair Value, Recurring Basis

The following tables show our assets and liabilities that are measured at fair value on a recurring basis (in millions):

	June 30 2013		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Assets
Interest rate derivatives (a)	$	8.1	$	—	$	8.1	$	—
Foreign exchange rate derivatives (b)	0.3		—		0.3		—
Available-for-sale equity securities	3.8		3.8		—		—
Liabilities
Interest rate derivatives (a)	0.1		—		0.1		—
Interest rate derivatives (b)	0.3		—		0.3		—

	December 31 2012		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Assets
Interest rate derivatives (a)	$	10.2	$	—	$	10.2	$	—
Available-for-sale equity securities	3.3		3.3		—		—
Liabilities
Interest rate derivatives (a)	1.0		—		1.0		—
Interest rate derivatives (b)	0.3		—		0.3		—
Foreign exchange rate derivatives (b)	2.1		—		2.1		—

________________

(a) Designated as hedges

(b) Not designated as hedges

Impact of GATX's Derivative Instrument On Income Statement and Other comprehensive income (loss)

The following table shows the impacts of our derivative instruments on our statement of comprehensive income (in millions):

Derivative Designation	Location of Gain (Loss) Recognized	Three Months Ended June 30						Six Months Ended June 30
		2013			2012			2013			2012
Fair value hedges (a)	Interest expense	$	(1.2	)	$	(1.5	)	$	(2.3	)	$	(2.6	)
Cash flow hedges	Unrealized gain on derivative instruments (effective portion)	0.6			0.4			0.9			0.7
Cash flow hedges	Interest expense (effective portion reclassified from accumulated other comprehensive loss)	(1.3		)	(1.1		)	(2.5		)	(3.0		)
Cash flow hedges	Operating lease expense (effective portion reclassified from accumulated other comprehensive loss)	(0.3		)	(0.3		)	(0.7		)	(0.7		)
Non-designated	Other income (expense)	1.5			(1.8		)	2.0			(1.5		)

__________________

(a) The fair value adjustments related to the underlying debt equally offsets the amounts recognized in interest expense

Fair Value Other Financial Instruments

The following table shows the carrying amounts and fair values of our other financial instruments as of (in millions):

	June 30, 2013				December 31, 2012
	Carrying Amount		Fair Value		Carrying Amount		Fair Value
Assets
Investment funds	$	1.9	$	5.9	$	2.5	$	5.8
Loans	24.4		24.9		27.2		27.7
Liabilities
Recourse fixed rate debt	$	2,683.5	$	2,801.3	$	2,343.3	$	2,513.4
Recourse floating rate debt	862.9		869.1		809.1		807.9
Nonrecourse debt	103.0		106.9		130.6		138.2