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Financial Data of Business Segments (Tables)
9 Months Ended
Sep. 30, 2017
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, 2017
 
 
 
 
 
 
 
 
 
 
Profitability
 
 
 
 
 
 
 
 
 
 
 
Revenues
 
 
 
 
 
 
 
 
 
 
 
Lease revenue
$
224.5

 
$
50.3

 
$
1.1

 
$
0.7

 
$

 
$
276.6

Marine operating revenue

 

 
59.1

 
3.8

 

 
62.9

Other revenue
17.9

 
2.0

 

 
0.2

 

 
20.1

Total Revenues   
242.4

 
52.3

 
60.2

 
4.7

 

 
359.6

Expenses
 
 
 
 
 
 
 
 
 
 
 
Maintenance expense
66.1

 
11.1

 
7.7

 

 

 
84.9

Marine operating expense

 

 
34.7

 
4.2

 

 
38.9

Depreciation expense
60.1

 
12.8

 
4.0

 
1.7

 

 
78.6

Operating lease expense
15.5

 

 
0.3

 

 

 
15.8

Other operating expense
7.3

 
1.1

 

 
0.1

 

 
8.5

Total Expenses
149.0

 
25.0

 
46.7

 
6.0

 

 
226.7

Other Income (Expense)
 
 
 
 
 
 
 
 
 
 
 
Net gain on asset dispositions
8.1

 
1.0

 

 
0.3

 

 
9.4

Interest (expense) income, net
(30.5
)
 
(8.5
)
 
(1.4
)
 
(2.2
)
 
2.4

 
(40.2
)
Other (expense) income
(0.9
)
 
0.3

 

 

 
(1.5
)
 
(2.1
)
Share of affiliates' pre-tax income
0.1

 

 

 
16.0

 

 
16.1

Segment profit
$
70.2

 
$
20.1

 
$
12.1

 
$
12.8

 
$
0.9

 
116.1

Selling, general and administrative expense
42.8

Income taxes (includes $3.9 related to affiliates' earnings)
24.3

Net income
$
49.0

 
 
 
 
 
 
 
 
 
 
 
 
Net Gain on Asset Dispositions
 
 
 
 
 
 
 
 
 
 
 
Asset Remarketing Income:
 
 
 
 
 
 
 
 
 
 
 
Disposition gains on owned assets
$
7.5

 
$
0.1

 
$

 
$

 
$

 
$
7.6

Residual sharing income
0.2

 

 

 
0.3

 

 
0.5

Non-remarketing disposition gains (1)
0.4

 
0.9

 

 

 

 
1.3

 
$
8.1

 
$
1.0

 
$

 
$
0.3

 
$

 
$
9.4

 
 
 
 
 
 
 
 
 
 
 
 
Capital Expenditures
 
 
 
 
 
 
 
 
 
 
 
Portfolio investments and capital additions
$
103.3

 
$
22.9

 
$
0.8

 
$
36.6

 
$
0.1

 
$
163.7

 
 
 
 
 
 
 
 
 
 
 
 
Selected Balance Sheet Data at September 30, 2017
 
 
 
 
 
 
 
 
 
 
Investments in affiliated companies
$
9.8

 
$

 
$

 
$
439.5

 
$

 
$
449.3

Identifiable assets
$
4,841.2

 
$
1,290.0

 
$
310.1

 
$
616.8

 
$
203.8

 
$
7,261.9

__________
(1) Includes scrapping gains.



Rail North America
 

Rail International
 

ASC
 

Portfolio Management
 
Other
 
GATX Consolidated
Three Months Ended September 30, 2016
 
 
 
 
 
 
 
 
 
 
Profitability
 
 
 
 
 
 
 
 
 
 
 
Revenues
 
 
 
 
 
 
 
 
 
 
 
Lease revenue
$
233.0

 
$
46.6

 
$
1.0

 
$
1.2

 
$

 
$
281.8

Marine operating revenue

 

 
51.8

 
10.3

 

 
62.1

Other revenue
17.3

 
1.6

 

 
0.1

 

 
19.0

Total Revenues   
250.3

 
48.2

 
52.8

 
11.6

 

 
362.9

Expenses
 
 
 
 
 
 
 
 
 
 
 
Maintenance expense
62.8

 
10.7

 
6.1

 

 

 
79.6

Marine operating expense

 

 
31.5

 
7.7

 

 
39.2

Depreciation expense
58.4

 
11.6

 
4.2

 
1.7

 

 
75.9

Operating lease expense
17.2

 

 
2.0

 

 

 
19.2

Other operating expense
8.6

 
1.2

 

 
0.3

 

 
10.1

Total Expenses
147.0

 
23.5

 
43.8

 
9.7

 

 
224.0

Other Income (Expense)
 
 
 
 
 
 
 
 
 
 
 
Net gain on asset dispositions
13.1

 
0.5

 

 
49.1

 

 
62.7

Interest (expense) income, net
(27.1
)
 
(7.3
)
 
(1.1
)
 
(2.1
)
 
1.4

 
(36.2
)
Other (expense) income
(1.4
)
 
5.5

 
(0.1
)
 

 
0.3

 
4.3

Share of affiliates' pre-tax (loss) income

 
(0.1
)
 

 
15.2

 

 
15.1

Segment profit
$
87.9

 
$
23.3

 
$
7.8

 
$
64.1

 
$
1.7

 
184.8

Selling, general and administrative expense
48.1

Income taxes (includes $0.1 tax benefit related to affiliates' earnings)
41.0

Net income
$
95.7

 
 
 
 
 
 
 
 
 
 
 
 
Net Gain on Asset Dispositions
 
 
 
 
 
 
 
 
 
 
 
Asset Remarketing Income:
 
 
 
 
 
 
 
 
 
 
 
Disposition gains on owned assets
$
11.9

 
$

 
$

 
$
(0.3
)
 
$

 
$
11.6

Residual sharing income
0.3

 

 

 
49.4

 

 
49.7

Non-remarketing disposition gains (1)
0.9

 
0.5

 

 

 

 
1.4

 
$
13.1

 
$
0.5

 
$

 
$
49.1

 
$

 
$
62.7

 
 
 
 
 
 
 
 
 
 
 
 
Capital Expenditures
 
 
 
 
 
 
 
 
 
 
 
Portfolio investments and capital additions
$
108.4

 
$
10.8

 
$

 
$

 
$
1.2

 
$
120.4

 
 
 
 
 
 
 
 
 
 
 
 
Selected Balance Sheet Data at December 31, 2016
 
 
 
 
 
 
 
Investments in affiliated companies
$
10.5

 
$
1.2

 
$

 
$
375.3

 
$

 
$
387.0

Identifiable assets
$
4,775.6

 
$
1,128.7

 
$
278.8

 
$
593.5

 
$
328.8

 
$
7,105.4

__________
(1) Includes scrapping gains.



Rail North America
 

Rail International
 

ASC
 

Portfolio Management
 
Other
 
GATX Consolidated
Nine Months Ended September 30, 2017
 
 
 
 
 
 
 
 
 
 
Profitability
 
 
 
 
 
 
 
 
 
 
 
Revenues
 
 
 
 
 
 
 
 
 
 
 
Lease revenue
$
677.4

 
$
139.8

 
$
3.1

 
$
3.1

 
$

 
$
823.4

Marine operating revenue

 

 
113.2

 
21.8

 

 
135.0

Other revenue
60.0

 
4.7

 

 
1.0

 

 
65.7

Total Revenues   
737.4

 
144.5

 
116.3

 
25.9

 

 
1,024.1

Expenses
 
 
 
 
 
 
 
 
 
 
 
Maintenance expense
202.3

 
30.8

 
14.6

 

 

 
247.7

Marine operating expense

 

 
70.6

 
19.2

 

 
89.8

Depreciation expense
178.8

 
35.8

 
8.1

 
5.2

 

 
227.9

Operating lease expense
45.3

 

 
1.5

 

 

 
46.8

Other operating expense
21.7

 
3.5

 

 
0.7

 

 
25.9

Total Expenses
448.1

 
70.1

 
94.8

 
25.1

 

 
638.1

Other Income (Expense)
 
 
 
 
 
 
 
 
 
 
 
Net gain on asset dispositions
42.6

 
2.6

 

 
11.1

 

 
56.3

Interest (expense) income, net
(90.1
)
 
(24.5
)
 
(3.9
)
 
(6.8
)
 
5.9

 
(119.4
)
Other (expense) income
(4.1
)
 
(2.3
)
 
0.8

 
2.3

 
(1.2
)
 
(4.5
)
Share of affiliates' pre-tax income (loss)
0.4

 
(0.1
)
 

 
39.9

 

 
40.2

Segment profit
$
238.1

 
$
50.1

 
$
18.4

 
$
47.3

 
$
4.7

 
358.6

Selling, general and administrative expense
128.8

Income taxes (includes $9.6 related to affiliates' earnings)
69.9

Net income
$
159.9

 
 
 
 
 
 
 
 
 
 
 
 
Net Gain on Asset Dispositions
 
 
 
 
 
 
 
 
 
 
 
Asset Remarketing Income:
 
 
 
 
 
 
 
 
 
 
 
Disposition gains on owned assets
$
39.5

 
$
0.1

 
$

 
$
1.8

 
$

 
$
41.4

Residual sharing income
0.5

 

 

 
9.3

 

 
9.8

Non-remarketing disposition gains (1)
4.5

 
2.5

 

 

 

 
7.0

Asset impairments
(1.9
)
 

 

 

 

 
(1.9
)
 
$
42.6

 
$
2.6

 
$

 
$
11.1

 
$

 
$
56.3

 
 
 
 
 
 
 
 
 
 
 
 
Capital Expenditures
 
 
 
 
 
 
 
 
 
 
 
Portfolio investments and capital additions
$
333.7

 
$
74.7

 
$
13.6

 
$
36.6

 
$
0.4

 
$
459.0

__________
(1) Includes scrapping gains.





Rail North America
 

Rail International
 

ASC
 

Portfolio Management
 
Other
 
GATX Consolidated
Nine Months Ended September 30, 2016
 
 
 
 
 
 
 
 
 
 
Profitability
 
 
 
 
 
 
 
 
 
 
 
Revenues
 
 
 
 
 
 
 
 
 
 
 
Lease revenue
$
703.0

 
$
136.8

 
$
3.1

 
$
4.6

 
$

 
$
847.5

Marine operating revenue

 

 
102.3

 
37.4

 

 
139.7

Other revenue
63.5

 
4.8

 

 
0.7

 

 
69.0

Total Revenues   
766.5

 
141.6

 
105.4

 
42.7

 

 
1,056.2

Expenses
 
 
 
 
 
 
 
 
 
 
 
Maintenance expense
196.2

 
36.1

 
12.3

 

 

 
244.6

Marine operating expense

 

 
64.0

 
24.9

 

 
88.9

Depreciation expense
173.0

 
34.2

 
8.6

 
5.2

 

 
221.0

Operating lease expense
50.6

 

 
4.0

 

 
(0.1
)
 
54.5

Other operating expense
25.0

 
3.8

 

 
4.9

 

 
33.7

Total Expenses
444.8

 
74.1

 
88.9

 
35.0

 
(0.1
)
 
642.7

Other Income (Expense)
 
 
 
 
 
 
 
 
 
 
 
Net gain on asset dispositions
36.4

 
1.5

 

 
84.9

 

 
122.8

Interest (expense) income, net
(81.2
)
 
(21.9
)
 
(3.3
)
 
(6.4
)
 
2.9

 
(109.9
)
Other (expense) income
(3.8
)
 
2.0

 
(0.3
)
 

 
(0.8
)
 
(2.9
)
Share of affiliates' pre-tax income (loss)
0.3

 
(0.2
)
 

 
33.0

 

 
33.1

Segment profit
$
273.4

 
$
48.9

 
$
12.9

 
$
119.2

 
$
2.2

 
456.6

Selling, general and administrative expense
127.8

Income taxes (includes $4.0 related to affiliates' earnings)
102.6

Net income
$
226.2

 
 
 
 
 
 
 
 
 
 
 
 
Net Gain on Asset Dispositions
 
 
 
 
 
 
 
 
 
 
 
Asset Remarketing Income:
 
 
 
 
 
 
 
 
 
 
 
Disposition gains on owned assets
$
32.5

 
$

 
$

 
$
4.2

 
$

 
$
36.7

Residual sharing income
0.7

 

 

 
82.5

 

 
83.2

Non-remarketing disposition gains (1)
3.2

 
1.5

 

 

 

 
4.7

Asset impairments

 

 

 
(1.8
)
 

 
(1.8
)
 
$
36.4

 
$
1.5

 
$

 
$
84.9

 
$

 
$
122.8

 
 
 
 
 
 
 
 
 
 
 
 
Capital Expenditures
 
 
 
 
 
 
 
 
 
 
 
Portfolio investments and capital additions
$
366.7

 
$
63.2

 
$
9.1

 
$

 
$
3.6

 
$
442.6

__________
(1) Includes scrapping gains.