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Leases (Tables)
 12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Leases [Abstract]    
Assets And Liabilities, Lessee [Table Text Block]  
The following table shows the lease terms and discount rates related to leases as of December 31:
20202019
Weighted-average remaining lease term (years):
Operating leases
9.39.6
Finance leases (1)
— — 
Weighted-average discount rate:
Operating leases
3.57 %3.66 %
Finance leases
0.95 %2.26 %
________
(1)     The weighted-average remaining lease term for outstanding finance leases was less than one year in both 2020 and 2019.
Lease, Cost [Table Text Block]
The following table shows the components of lease expense for the years ended December 31 (in millions):
20202019
Finance lease cost:
Amortization of right-of-use assets
$0.6 $0.7 
Interest on lease liabilities
0.2 0.3 
Operating lease cost (1):
Fixed lease cost - operating leases
53.3 59.7 
Total lease cost
$54.1 $60.7 
________
(1)     Total operating lease cost includes amounts recorded in selling, general and administrative expense. Operating lease cost also includes short-term leases, which are immaterial.
The following table shows other information related to leases for the years ended December 31 (in millions):
20202019
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows for operating leases
$58.5 $66.5 
Operating cash flows for finance leases
— 0.3 
Financing cash flows for finance leases
40.0 11.3 
Total cash for leases$98.5 $78.1 
Non-cash financing lease transactions (1)$64.9 $7.8 
__________
(1) Non-cash financing lease transactions are a result of the reclassification from operating lease liability to finance lease liability upon notice of the intent to exercise an early buy-out option.
  
Operating Lease, Lease Income [Table Text Block]  
The following table shows the components of our lease income for the years ended December 31 (in millions):
20202019
Operating lease income:
Fixed lease income
$1,020.9 $1,013.5 
Variable lease income
59.4 65.2 
Total operating lease income
$1,080.3 $1,078.7 
Finance lease income
7.2 9.8 
Total lease income
$1,087.5 $1,088.5 
The following table shows the components of our finance leases as of December 31 (in millions):
20202019
Total contractual lease payments receivable
$77.1 $84.4 
Estimated unguaranteed residual value of leased assets
24.6 40.7 
Unearned income
(27.7)(34.8)
Finance leases
$74.0 $90.3 
Components of GATX's finance leases The following table shows assets recorded as finance leases as of December 31 (in millions):
20202019
Railcars
$37.8 $9.0 
Less: allowance for depreciation
(0.3)(0.1)
Finance leases, net of accumulated depreciation$37.5 $8.9 
  
Lessee, Leases, Future Minimum Payments [Table Text Block]
The following table shows the maturities of our lease liabilities as of December 31, 2019 (in millions):
Operating LeasesFinance LeasesTotal
2021$50.6 $33.3 $83.9 
202249.0 — 49.0 
202348.0 — 48.0 
202445.1 — 45.1 
202537.7 — 37.7 
Thereafter
180.0 — 180.0 
Total undiscounted lease payments$410.4 $33.3 $443.7 
Less: amounts representing interest
(61.8)— (61.8)
Total discounted lease liabilities
$348.6 $33.3 $381.9 
The following table shows our future contractual receipts from our noncancelable operating leases and finance leases as of December 31, 2020 (in millions):
 
Operating Leases (1)Finance Leases Total
2021$925.5 $16.2 $941.7 
2022702.7 21.8 724.5 
2023524.7 8.4 533.1 
2024357.7 9.3 367.0 
2025193.1 5.8 198.9 
Years thereafter
215.0 15.6 230.6 
$2,918.7 $77.1 $2,995.8 
__________
(1)     The future contractual receipts due under our full-service operating leases include executory costs such as maintenance, car taxes, and insurance.