Financial Data of Business Segments (Tables)

9 Months Ended

Sep. 30, 2015

Segment Reporting [Abstract]

Segment data

The following tables show certain segment data for each of our business segments (in millions):

	Rail North America			Rail International			ASC			Portfolio Management			Other			GATX Consolidated
Three Months Ended September 30, 2015
Profitability
Revenues
Lease revenue	$	234.9		$	44.1		$	1.1		$	6.1		$	—		$	286.2
Marine operating revenue	—			—			61.7			15.9			—			77.6
Other revenue	20.3			1.7			—			0.4			—			22.4
Total Revenues	255.2			45.8			62.8			22.4			—			386.2
Expenses
Maintenance expense	66.7			9.9			7.3			—			—			83.9
Marine operating expense	—			—			36.7			11.8			—			48.5
Depreciation expense	54.5			11.1			4.7			4.7			—			75.0
Operating lease expense	20.6			(0.1		)	1.8			—			—			22.3
Other operating expense	6.8			1.1			—			0.4			—			8.3
Total Expenses	148.6			22.0			50.5			16.9			—			238.0
Other Income (Expense)
Net gain (loss) on asset dispositions	11.5			0.5			—			(16.5		)	—			(4.5		)
Interest expense, net	(27.0		)	(7.0		)	(1.4		)	(4.7		)	2.4			(37.7		)
Other expense	(1.2		)	(1.8		)	—			—			(0.1		)	(3.1		)
Share of affiliates' earnings (pretax) (1)	0.1			—			—			(1.6		)	—			(1.5		)
Segment Profit (Loss)	$	90.0		$	15.5		$	10.9		$	(17.3	)	$	2.3		101.4
Selling, general and administrative expense																44.4
Income taxes (including $2.8 tax benefit related to affiliates' earnings)																17.5
Net Income																$	39.5
Net Gain on Asset Dispositions
Asset Remarketing Income:
Disposition gains on owned assets	$	10.2		$	—		$	—		$	7.2		$	—		$	17.4
Residual sharing income	0.3			—			—			7.3			—			7.6
Non-remarketing disposition gains (2)	1.0			0.6			—			—			—			1.6
Asset impairment	—			(0.1		)	—			(31.0		)	—			(31.1		)
	$	11.5		$	0.5		$	—		$	(16.5	)	$	—		$	(4.5	)
Capital Expenditures
Portfolio investments and capital additions	$	97.8		$	40.9		$	0.8		$	1.9		$	0.7		$	142.1
Selected Balance Sheet Data at September 30, 2015
Investments in affiliated companies	$	12.3		$	1.5		$	—		$	350.3		$	—		$	364.1
Identifiable assets	$	4,599.0		$	1,140.6		$	297.0		$	737.7		$	130.4		$	6,904.7

_____

(1) Includes a $19.0 million impairment loss in the Portfolio Management segment.

(2) Includes scrapping gains.

	Rail North America			Rail International			ASC			Portfolio Management			Other			GATX Consolidated
Three Months Ended September 30, 2014
Profitability
Revenues
Lease revenue	$	222.6		$	47.9		$	1.1		$	7.5		$	—		$	279.1
Marine operating revenue	—			—			82.7			16.2			—			98.9
Other revenue	15.7			2.3			—			1.2			—			19.2
Total Revenues	238.3			50.2			83.8			24.9			—			397.2
Expenses
Maintenance expense	65.7			11.0			8.9			—			—			85.6
Marine operating expense	—			—			52.2			12.6			—			64.8
Depreciation expense	49.7			11.9			4.5			5.8			—			71.9
Operating lease expense	25.6			—			1.8			—			—			27.4
Other operating expense	6.1			1.2			—			0.7			—			8.0
Total Expenses	147.1			24.1			67.4			19.1			—			257.7
Other Income (Expense)
Net gain on asset dispositions	4.4			0.8			—			1.1			—			6.3
Interest expense, net	(24.1		)	(6.0		)	(1.4		)	(5.8		)	(0.8		)	(38.1		)
Other (expense) income	(1.0		)	(1.1		)	0.2			(1.4		)	0.2			(3.1		)
Share of affiliates' earnings (pretax)	0.1			(0.1		)	—			17.0			—			17.0
Segment Profit (Loss)	$	70.6		$	19.7		$	15.2		$	16.7		$	(0.6	)	121.6
Selling, general and administrative expense																45.8
Income taxes (including $4.6 related to affiliates' earnings)																24.5
Net Income																$	51.3
Net Gain on Asset Dispositions
Asset Remarketing Income:
Disposition gains on owned assets	$	1.2		$	—		$	—		$	—		$	—		$	1.2
Residual sharing income	0.1			—			—			1.1			—			1.2
Non-remarketing disposition gains (1)	3.1			0.9			—			—			—			4.0
Asset impairment	—			(0.1		)	—			—			—			(0.1		)
	$	4.4		$	0.8		$	—		$	1.1		$	—		$	6.3
Capital Expenditures
Portfolio investments and capital additions	$	118.9		$	45.6		$	0.9		$	5.0		$	1.1		$	171.5
Selected Balance Sheet Data at December 31, 2014
Investments in affiliated companies	$	17.2		$	1.8		$	—		$	338.7		$	—		$	357.7
Identifiable assets	$	4,358.3		$	1,229.4		$	286.7		$	813.3		$	249.8		$	6,937.5

_____

(1) Includes scrapping gains.

	Rail North America			Rail International			ASC			Portfolio Management			Other			GATX Consolidated
Nine Months Ended September 30, 2015
Profitability
Revenues
Lease revenue	$	694.3		$	128.6		$	3.1		$	19.1		$	—		$	845.1
Marine operating revenue	—			—			119.7			48.1			—			167.8
Other revenue	51.8			5.3			—			1.2			—			58.3
Total Revenues	746.1			133.9			122.8			68.4			—			1,071.2
Expenses
Maintenance expense	199.7			28.2			14.5			—			—			242.4
Marine operating expense	—			—			77.7			37.0			—			114.7
Depreciation expense	160.1			32.6			9.6			15.6			—			217.9
Operating lease expense	62.0			—			3.5			—			(0.1		)	65.4
Other operating expense	18.1			3.5			—			1.8			—			23.4
Total Expenses	439.9			64.3			105.3			54.4			(0.1		)	663.8
Other Income (Expense)
Net gain (loss) on asset dispositions	54.4			6.5			—			(11.4		)	—			49.5
Interest expense, net	(76.1		)	(16.5		)	(4.0		)	(15.5		)	(5.0		)	(117.1		)
Other expense	(4.2		)	(3.0		)	(0.1		)	—			(1.4		)	(8.7		)
Share of affiliates' earnings (pretax) (1)	0.4			(0.2		)	—			21.8			—			22.0
Segment Profit (Loss)	$	280.7		$	56.4		$	13.4		$	8.9		$	(6.3	)	353.1
Selling, general and administrative expense																134.7
Income taxes (including $3.2 related to affiliates' earnings)																71.3
Net Income																$	147.1
Net Gain on Asset Dispositions
Asset Remarketing Income:
Disposition gains on owned assets	$	51.1		$	—		$	—		$	9.3		$	—		$	60.4
Residual sharing income	0.7			—			—			10.3			—			11.0
Non-remarketing disposition gains (2)	2.6			6.7			—			—			—			9.3
Asset impairment	—			(0.2		)	—			(31.0		)	—			(31.2		)
	$	54.4		$	6.5		$	—		$	(11.4	)	$	—		$	49.5
Capital Expenditures
Portfolio investments and capital additions	$	362.8		$	110.1		$	20.3		$	2.2		$	2.9		$	498.3

_____

(1) Includes a $19.0 million impairment loss in the Portfolio Management segment.

(2) Includes scrapping gains.

	Rail North America			Rail International			ASC			Portfolio Management			Other			GATX Consolidated
Nine Months Ended September 30, 2014
Profitability
Revenues
Lease revenue	$	635.7		$	142.8		$	3.2		$	22.3		$	—		$	804.0
Marine operating revenue	—			—			145.2			43.6			—			188.8
Other revenue	46.4			6.7			—			3.7			—			56.8
Total Revenues	682.1			149.5			148.4			69.6			—			1,049.6
Expenses
Maintenance expense	192.2			34.1			16.4			—			—			242.7
Marine operating expense	—			—			97.9			36.5			—			134.4
Depreciation expense	140.3			35.4			8.9			17.1			—			201.7
Operating lease expense	78.2			—			3.5			—			(0.1		)	81.6
Other operating expense	16.1			3.6			—			1.6			—			21.3
Total Expenses	426.8			73.1			126.7			55.2			(0.1		)	681.7
Other Income (Expense)
Net gain (loss) on asset dispositions	53.1			5.8			(0.4		)	4.1			—			62.6
Interest expense, net	(74.0		)	(18.4		)	(4.2		)	(18.7		)	(4.3		)	(119.6		)
Other expense	(4.7		)	(3.8		)	—			(1.1		)	(1.8		)	(11.4		)
Share of affiliates' earnings (pretax)	7.6			(0.2		)	—			41.4			—			48.8
Segment Profit (Loss)	$	237.3		$	59.8		$	17.1		$	40.1		$	(6.0	)	348.3
Selling, general and administrative expense																133.4
Income taxes (including $14.2 related to affiliates' earnings)																68.4
Net Income																$	146.5
Net Gain on Asset Dispositions
Asset Remarketing Income:
Disposition gains on owned assets	$	40.5		$	0.6		$	—		$	0.5		$	—		$	41.6
Residual sharing income	4.5			—			—			3.5			—			8.0
Non-remarketing disposition gains (1)	8.1			5.3			—			—			—			13.4
Asset impairment	—			(0.1		)	(0.4		)	0.1			—			(0.4		)
	$	53.1		$	5.8		$	(0.4	)	$	4.1		$	—		$	62.6
Capital Expenditures
Portfolio investments and capital additions	$	660.7		$	127.2		$	16.9		$	17.0		$	4.8		$	826.6

_____

(1) Includes scrapping gains.