Financial Data of Business Segments (Tables)

12 Months Ended

Dec. 31, 2019

The following tables show certain segment data for the years ended December 31, 2020, 2019, and 2018 (in millions):


	Rail North America		Rail International		Portfolio Management		Other		GATX Consolidated
2020 Profitability
Revenues
Lease revenue	$	838.3	$	248.4	$	0.8	$	—	$	1,087.5
Marine operating revenue	—		—		15.6		—		15.6
Other revenue	95.8		9.7		0.6		—		106.1
Total Revenues	934.1		258.1		17.0		—		1,209.2
Expenses
Maintenance expense	264.7		50.8		—		—		315.5
Marine operating expense	—		—		19.7		—		19.7
Depreciation expense	258.6		66.6		5.3		—		330.5
Operating lease expense	49.3		—		—		—		49.3
Other operating expense	27.3		7.5		0.5		—		35.3
Total Expenses	599.9		124.9		25.5		—		750.3
Other Income (Expense)
Net gain on asset dispositions	38.3		1.2		2.2		—		41.7
Interest (expense) income, net	(139.9)		(45.9)		(12.2)		7.7		(190.3)
Other expense	(4.9)		(5.0)		—		(3.1)		(13.0)
Share of affiliates' (loss) pre-tax income	(0.1)		—		95.9		—		95.8
Segment profit	$	227.6	$	83.5	$	77.4	$	4.6	393.1
Less:
Selling, general and administrative expense									172.0
Income taxes (includes $33.6 related to affiliates' earnings)									70.9
Net income from continuing operations									$	150.2
Net income from discontinued operations, net of taxes									1.1
Net income									$	151.3

Net Gain (Loss) on Asset Dispositions
Asset Remarketing Income:
Net gains on dispositions of owned assets	$	38.8	$	0.5	$	0.1	$	—	$	39.4
Residual sharing income	0.4		—		2.1		—		2.5
Non-remarketing net (losses) gains (1)	(0.6)		0.7		—		—		0.1
Asset impairments	(0.3)		—		—		—		(0.3)
	$	38.3	$	1.2	$	2.2	$	—	$	41.7

Capital Expenditures
Portfolio investments and capital additions	$	642.0	$	216.0	$	0.5	$	205.5	$	1,064.0

Selected Balance Sheet Data
Investments in affiliated companies	$	—	$	—	$	584.7	$	—	$	584.7
Identifiable assets from continuing operations	$	5,944.4	$	1,851.8	$	706.1	$	435.3	$	8,937.6

__________

(1) Includes net gains (losses) from scrapping of railcars.


	Rail North America		Rail International		Portfolio Management		Other		GATX Consolidated
2019 Profitability
Revenues
Lease revenue	$	868.3	$	219.2	$	1.0	$	—	$	1,088.5
Marine operating revenue	—		—		8.2		—		8.2
Other revenue	96.2		8.5		0.7		—		105.4
Total Revenues	964.5		227.7		9.9		—		1,202.1
Expenses
Maintenance expense	267.9		46.5		—		—		314.4
Marine operating expense	—		—		18.9		—		18.9
Depreciation expense	256.9		57.8		6.6		—		321.3
Operating lease expense	54.4		—		—		—		54.4
Other operating expense	23.9		6.8		0.6		—		31.3
Total Expenses	603.1		111.1		26.1		—		740.3
Other Income (Expense)
Net gain (loss) on asset dispositions	54.6		1.7		(4.7)		—		51.6
Interest (expense) income, net	(134.5)		(40.6)		(11.2)		5.8		(180.5)
Other (expense) income	(5.3)		1.2		—		(3.2)		(7.3)
Share of affiliates' pre-tax income	—		—		94.5		—		94.5
Segment profit	$	276.2	$	78.9	$	62.4	$	2.6	420.1
Less:
Selling, general and administrative expense									180.4
Income taxes (includes $18.0 related to affiliates' earnings)									58.9
Net income from continuing operations									$	180.8
Net income from discontinued operations, net of taxes									30.4
Net income									$	211.2

Net Gain (Loss) on Asset Dispositions
Asset Remarketing Income:
Net gains on dispositions of owned assets	$	58.5	$	0.1	$	—	$	—	$	58.6
Residual sharing income	0.4		—		1.5		—		1.9
Non-remarketing net (losses) gains (1)	(3.9)		1.6		—		—		(2.3)
Asset impairments	(0.4)		—		(6.2)		—		(6.6)
	$	54.6	$	1.7	$	(4.7)	$	—	$	51.6

Capital Expenditures
Portfolio investments and capital additions	$	502.2	$	215.7	$	—	$	4.9	$	722.8

Selected Balance Sheet Data
Investments in affiliated companies	$	0.2	$	—	$	512.4	$	—	$	512.6
Identifiable assets from continuing operations	$	5,646.7	$	1,486.7	$	653.7	$	206.9	$	7,994.0
Identifiable assets from discontinued operations	$	—	$	—	$	—	$	—	$	291.1

__________

(1) Includes net gains (losses) from scrapping of railcars.


	Rail North America		Rail International		Portfolio Management		Other		GATX Consolidated
2018 Profitability
Revenues
Lease revenue	$	873.4	$	209.3	$	1.0	$	—	$	1,083.7
Marine operating revenue	—		—		14.3		—		14.3
Other revenue	68.1		8.2		0.8		—		77.1
Total Revenues	941.5		217.5		16.1		—		1,175.1
Expenses
Maintenance expense	254.7		44.5		—		—		299.2
Marine operating expense	—		—		16.8		—		16.8
Depreciation expense	248.5		55.5		7.3		—		311.3
Operating lease expense	49.6		—		—		—		49.6
Other operating expense	27.3		5.8		—		—		33.1
Total Expenses	580.1		105.8		24.1		—		710.0
Other Income (Expense)
Net gain (loss) on asset dispositions	76.3		(0.2)		(3.4)		—		72.7
Interest (expense) income, net	(125.2)		(35.9)		(10.4)		8.6		(162.9)
Other expense	(5.2)		(7.0)		—		(9.5)		(21.7)
Share of affiliates' pre-tax income	0.6		—		60.5		—		61.1
Segment profit (loss)	$	307.9	$	68.6	$	38.7	$	(0.9)	414.3
Less:
Selling, general and administrative expense									182.5
Income taxes (includes $10.8 related to affiliates' earnings)									41.3
Net income from continuing operations									$	190.5
Net income from discontinued operations, net of taxes									20.8
Net income									$	211.3

Net Gain (Loss) on Asset Dispositions
Asset Remarketing Income:
Net gains on dispositions of owned assets	$	64.7	$	—	$	—	$	—	$	64.7
Residual sharing income	1.4		—		1.1		—		2.5
Non-remarketing net gains (1)	10.8		3.7		—		—		14.5
Asset impairments	(0.6)		(3.9)		(4.5)		—		(9.0)
	$	76.3	$	(0.2)	$	(3.4)	$	—	$	72.7

Capital Expenditures
Portfolio investments and capital additions	$	737.4	$	152.7	$	14.1	$	23.4	$	927.6

Selected Balance Sheet Data
Investments in affiliated companies	$	0.2	$	—	$	464.3	$	—	$	464.5
Identifiable assets from continuing operations	$	5,236.6	$	1,363.2	$	606.8	$	112.3	$	7,318.9
Identifiable assets from discontinued operations	$	—	$	—	$	—	$	—	$	297.8

__________

(1) Includes net gains (losses) from scrapping of railcars.