Asset Impairments and Assets Held for Sale (Notes)

12 Months Ended

Dec. 31, 2020

Asset Impairments and Assets Held for Sale

We review our operating assets annually, or whenever indicators of impairment may be present. We considered the impact of COVID-19, and it did not have a material impact on our impairment results. The following table summarizes the components of asset impairments for the years ended December 31 (in millions):


	2020		2019		2018
Attributable to Consolidated Assets

Rail North America	$	0.3	$	0.4	$	0.6
Rail International	—		—		0.9
Portfolio Management	—		6.2		4.5
Rail International - railcar maintenance facility closure	—		—		3.0
Total	$	0.3	$	6.6	$	9.0

Impairment losses recorded at Rail North America and Rail International were primarily attributable to railcars with declines in value due to excessive damage or functional obsolescence. Impairment losses recorded at Portfolio Management each year related to certain offshore marine supply vessels.

In 2018, GRE recorded $3.0 million of impairment losses associated with the closure of a railcar maintenance facility in Germany.

In the consolidated statements of comprehensive income, impairment losses related to consolidated assets were included in net (loss) gains on asset dispositions.

As of December 31, 2020 and 2019, assets held for sale were $4.8 million and $3.4 million, all of which were at Rail North America. All assets held for sale at December 31, 2020 are expected to be sold in 2021.