Consolidated Statements of Cash Flows $ in Millions	9 Months Ended
	Sep. 30, 2015 USD ($)	Sep. 30, 2014 USD ($) railcar
Operating Activities
Net income	$ 147.1	$ 146.5
Adjustments to reconcile income to net cash provided by operating activities:
Depreciation expense	227.4	211.9
Gains on sales of assets	(69.7)	(55.1)
Asset Impairment Charges	31.2	0.4
Deferred income taxes	(55.8)	(42.8)
Share of affiliates’ earnings, net of dividends	(18.6)	(9.8)
Change in accrued operating lease expense	(38.0)	(24.9)
Other	(23.2)	(26.5)
Net cash provided by operating activities	312.0	285.3
Investing Activities
Purchases of leased-in assets	(118.4)	(150.5)
Portfolio proceeds	(298.2)	(181.8)
Proceeds from sales of other assets	(16.2)	(22.7)
Net decrease (increase) in restricted cash	(1.0)	6.4
Other	9.7	5.8
Net cash used in investing activities	(293.6)	(760.4)
Financing Activities
Net proceeds from issuances of debt (original maturities longer than 90 days)	748.8	976.2
Repayments of debt (original maturities longer than 90 days)	(649.4)	(682.9)
Net increase (decrease) in debt with original maturities of 90 days or less	54.0	(36.8)
Stock repurchases	(105.0)	(124.6)
Dividends	(51.9)	(47.1)
Other	3.7	(2.8)
Net cash (used in) provided by financing activities	107.8	(155.6)
Effect of Exchange Rate Changes on Cash and Cash Equivalents	(4.5)	(0.8)
Net decrease in Cash and Cash Equivalents	(93.9)	(320.3)
Cash and Cash Equivalents at beginning of period	209.9	379.7
Cash and Cash Equivalents at end of period	116.0	59.4
Noncash Investing Transactions
Distributions from affiliates	0.0	1.1	[1]
Portfolio proceeds	298.2	$ 181.8
Number of railcars received | railcar		62
Portfolio Investments and Capital Additions	$ (498.3)	$ (826.6)

[1] (1) In 2014, we received a distribution of 62 railcars from our Southern Capital affiliate.