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Consolidated Statements of Cash Flows (unaudited) (USD $)
In Millions, unless otherwise specified
9 Months Ended
Sep. 30, 2013
Sep. 30, 2012
Operating activities:    
Net income $ 273.1 $ 182.9
Adjustments to reconcile net income to net cash provided by operating activities:    
Income from discontinued operations (5.9) (2.0)
Depreciation and amortization 156.2 144.5
Stock-based compensation expense 31.1 19.9
Excess tax benefits from stock-based compensation (8.1) 1.4
Provision for deferred income taxes (41.9) 92.8
Net gains on sales of railcars owned more than one year at the time of sale (9.6) (22.3)
Gains (losses) on disposition of property, plant, equipment, and other assets (0.3) (4.7)
Non-cash interest expense 23.7 22.3
Other (5.8) (9.7)
Changes in assets and liabilities:    
(Increase) decrease in receivables (112.3) (38.5)
(Increase) decrease in inventories (86.0) (141.0)
(Increase) decrease in other assets (34.8) (60.3)
Increase (decrease) in accounts payable 19.7 4.4
Increase (decrease) in accrued liabilities 123.8 62.8
Increase (decrease) in other liabilities 45.6 (3.0)
Net cash provided by operating activities - continuing operations 368.5 249.5
Net cash provided by operating activities - discontinued operations 6.2 2.6
Net cash provided by operating activities 374.7 252.1
Investing activities:    
(Increase) decrease in short-term marketable securities (96.0) 0
Proceeds from sales of railcars owned more than one year at the time of sale 59.3 94.9
Proceeds from lease fleet sales - sale and leaseback 0 7.2
Proceeds from disposition of property, plant, equipment, and other assets 1.1 15.7
Capital expenditures – leasing, net of sold railcars owned one year or less with a net cost of $15.4 and $79.8 (455.5) (266.3)
Capital expenditures – manufacturing and other (91.2) (64.6)
Acquisitions, net of cash acquired (37.2) (4.9)
Other (9.4) 0
Net cash required by investing activities - continuing operations (628.9) (218.0)
Net cash provided by investing activities - discontinued operations 0.4 0.4
Net cash required by investing activities (628.5) (217.6)
Financing activities:    
Proceeds from issuance of common stock, net 2.1 2.1
Excess tax benefits from stock-based compensation 8.1 (1.4)
Payments to retire debt (227.5) (122.4)
Proceeds from issuance of debt 175.4 115.1
(Increase) decrease in restricted cash (26.1) 5.5
Shares repurchased (71.1) (45.2)
Dividends paid to common shareholders (27.5) (23.1)
Proceeds from sale of interests in partially-owned leasing subsidiaries 296.7 0
Repurchase of noncontrolling interests in partially-owned leasing subsidiary (84.0) 0
Contributions from noncontrolling interest 50.0 0
Distributions to noncontrolling interest (3.3) 0
Other (8.3) (5.3)
Net cash provided (required) by financing activities - continuing operations 84.5 (74.7)
Net cash provided (required) by financing activities - discontinued operations (1.1) 1.3
Net cash provided (required) by financing activities 83.4 (73.4)
Net decrease in cash and cash equivalents (170.4) (38.9)
Cash and cash equivalents at beginning of period 573.0 351.1
Cash and cash equivalents at end of period $ 402.6 [1] $ 312.2
[1] (unaudited)