XML 52 R83.htm IDEA: XBRL DOCUMENT v3.2.0.727
Financial Statements for Guarantors of the Senior Notes (Details 2) - USD ($)
$ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2015
Jun. 30, 2014
Jun. 30, 2015
Jun. 30, 2014
Operating activities:        
Net income $ 220.8 $ 173.1 $ 409.8 $ 406.1
Equity in earnings of subsidiaries, net of taxes 0.0 0.0 0.0 0.0
Other     (127.8) (248.7)
Net cash provided (required) by operating activities     282.0 157.4
Investing activities:        
(Increase) decrease in short-term marketable securities     75.0 (68.8)
Proceeds from dispositions of property     4.8 21.0
Proceeds from railcar lease fleet sales     167.4 242.1
Capital expenditures – leasing     (419.4) (49.5)
Capital expenditures – manufacturing and other     (100.7) (107.5)
Acquisitions, net of cash acquired 0.0 (6.2) (46.2) (118.8)
(Increase) decrease in investment in partially-owned subsidiaries     0.0 0.0
Proceeds from Divestiture of Businesses, Net of Cash Divested     51.3 0.0
Other     5.2 0.3
Net cash provided (required) by investing activities     (262.6) (81.2)
Financing activities:        
Proceeds from issuance of common stock, net     0.2 0.4
Excess tax benefits from stock-based compensation     12.8 23.6
Payments to retire debt     (471.0) (90.1)
Proceeds from issuance of debt     242.4 332.1
(Increase) decrease in restricted cash     46.8 (12.8)
Shares repurchased     (75.0) (17.5)
Dividends paid to common shareholders     (31.1) (23.2)
Purchase of shares to satisfy employee tax on vested stock     (27.2) (38.1)
Contributions from noncontrolling interest     0.0 49.6
Contributions from controlling interest in partially-owned subsidiaries     0.0 0.0
Distributions to noncontrolling interest     (19.9) (12.3)
Distributions to controlling interest in partially-owned subsidiaries     0.0 0.0
Change in intercompany financing between entities     0.0 0.0
Other     (1.5) (1.1)
Net cash provided (required) by financing activities     (323.5) 210.6
Net increase (decrease) in cash and cash equivalents     (304.1) 286.8
Cash and cash equivalents at beginning of period     887.9 428.5
Cash and cash equivalents at end of period 583.8 [1] 715.3 583.8 [1] 715.3
Parent        
Operating activities:        
Net income 212.0 164.2 392.2 390.6
Equity in earnings of subsidiaries, net of taxes (246.3) (150.1) (443.2) (402.3)
Other     (22.8) 40.4
Net cash provided (required) by operating activities     (73.8) 28.7
Investing activities:        
(Increase) decrease in short-term marketable securities     75.0 (68.8)
Proceeds from dispositions of property     0.0 0.4
Proceeds from railcar lease fleet sales     0.0 0.0
Capital expenditures – leasing     0.0 0.0
Capital expenditures – manufacturing and other     (4.0) (4.7)
Acquisitions, net of cash acquired     0.0 0.0
(Increase) decrease in investment in partially-owned subsidiaries     0.0 0.0
Proceeds from Divestiture of Businesses, Net of Cash Divested     0.0 0.0
Other     0.0 0.0
Net cash provided (required) by investing activities     71.0 (73.1)
Financing activities:        
Proceeds from issuance of common stock, net     0.2 0.4
Excess tax benefits from stock-based compensation     12.8 23.6
Payments to retire debt     0.0 0.0
Proceeds from issuance of debt     (1.5) 0.0
(Increase) decrease in restricted cash     0.0 0.0
Shares repurchased     (75.0) (17.5)
Dividends paid to common shareholders     (31.1) (23.2)
Purchase of shares to satisfy employee tax on vested stock     (27.2) (38.1)
Contributions from noncontrolling interest     0.0 0.0
Contributions from controlling interest in partially-owned subsidiaries     0.0 0.0
Distributions to noncontrolling interest     0.0 0.0
Distributions to controlling interest in partially-owned subsidiaries     0.0 0.0
Change in intercompany financing between entities     (178.2) 378.5
Other     0.0 0.0
Net cash provided (required) by financing activities     (300.0) 323.7
Net increase (decrease) in cash and cash equivalents     (302.8) 279.3
Cash and cash equivalents at beginning of period     827.7 409.8
Cash and cash equivalents at end of period 524.9 689.1 524.9 689.1
Combined Guarantor Subsidiaries        
Operating activities:        
Net income 205.2 116.4 376.0 331.5
Equity in earnings of subsidiaries, net of taxes (66.8) (27.3) (124.6) (76.4)
Other     (134.6) (317.1)
Net cash provided (required) by operating activities     116.8 (62.0)
Investing activities:        
(Increase) decrease in short-term marketable securities     0.0 0.0
Proceeds from dispositions of property     1.9 0.0
Proceeds from railcar lease fleet sales     60.6 544.6
Capital expenditures – leasing     (422.4) (46.8)
Capital expenditures – manufacturing and other     (22.3) (25.6)
Acquisitions, net of cash acquired     0.0 0.0
(Increase) decrease in investment in partially-owned subsidiaries     12.8 (14.5)
Proceeds from Divestiture of Businesses, Net of Cash Divested     0.0 0.0
Other     1.3 0.0
Net cash provided (required) by investing activities     (368.1) 457.7
Financing activities:        
Proceeds from issuance of common stock, net     0.0 0.0
Excess tax benefits from stock-based compensation     0.0 0.0
Payments to retire debt     (1.6) (1.6)
Proceeds from issuance of debt     0.0 0.0
(Increase) decrease in restricted cash     0.0 0.0
Shares repurchased     0.0 0.0
Dividends paid to common shareholders     0.0 0.0
Purchase of shares to satisfy employee tax on vested stock     0.0 0.0
Contributions from noncontrolling interest     0.0 0.0
Contributions from controlling interest in partially-owned subsidiaries     0.0 0.0
Distributions to noncontrolling interest     0.0 0.0
Distributions to controlling interest in partially-owned subsidiaries       0.0
Change in intercompany financing between entities     243.4 (394.4)
Other     0.0 (0.5)
Net cash provided (required) by financing activities     241.8 (396.5)
Net increase (decrease) in cash and cash equivalents     (9.5) (0.8)
Cash and cash equivalents at beginning of period     11.1 2.1
Cash and cash equivalents at end of period 1.6 1.3 1.6 1.3
Combined Non-Guarantor Subsidiaries        
Operating activities:        
Net income 112.1 61.5 203.0 155.0
Equity in earnings of subsidiaries, net of taxes 0.0 0.0 0.0 0.0
Other     48.3 35.2
Net cash provided (required) by operating activities     251.3 190.2
Investing activities:        
(Increase) decrease in short-term marketable securities     0.0 0.0
Proceeds from dispositions of property     2.9 20.6
Proceeds from railcar lease fleet sales     150.0 117.0
Capital expenditures – leasing     (40.2) (422.2)
Capital expenditures – manufacturing and other     (74.4) (77.2)
Acquisitions, net of cash acquired     (46.2) (118.8)
(Increase) decrease in investment in partially-owned subsidiaries     0.0 0.0
Proceeds from Divestiture of Businesses, Net of Cash Divested     51.3 0.0
Other     3.9 0.3
Net cash provided (required) by investing activities     47.3 (480.3)
Financing activities:        
Proceeds from issuance of common stock, net     0.0 0.0
Excess tax benefits from stock-based compensation     0.0 0.0
Payments to retire debt     (469.4) (88.5)
Proceeds from issuance of debt     243.9 332.1
(Increase) decrease in restricted cash     45.5 (6.7)
Shares repurchased     0.0 0.0
Dividends paid to common shareholders     0.0 0.0
Purchase of shares to satisfy employee tax on vested stock     0.0 0.0
Contributions from noncontrolling interest     0.0 49.6
Contributions from controlling interest in partially-owned subsidiaries     0.0 14.5
Distributions to noncontrolling interest     (19.9) (12.3)
Distributions to controlling interest in partially-owned subsidiaries     (12.8) 0.0
Change in intercompany financing between entities     (77.5) 16.5
Other     (1.5) (0.6)
Net cash provided (required) by financing activities     (291.7) 304.6
Net increase (decrease) in cash and cash equivalents     6.9 14.5
Cash and cash equivalents at beginning of period     89.4 44.0
Cash and cash equivalents at end of period 96.3 58.5 96.3 58.5
Eliminations        
Operating activities:        
Net income (308.5) (169.0) (561.4) (471.0)
Equity in earnings of subsidiaries, net of taxes 313.1 177.4 567.8 478.7
Other     (18.7) (7.2)
Net cash provided (required) by operating activities     (12.3) 0.5
Investing activities:        
(Increase) decrease in short-term marketable securities     0.0 0.0
Proceeds from dispositions of property     0.0 0.0
Proceeds from railcar lease fleet sales     (43.2) (419.5)
Capital expenditures – leasing     43.2 419.5
Capital expenditures – manufacturing and other     0.0 0.0
Acquisitions, net of cash acquired     0.0 0.0
(Increase) decrease in investment in partially-owned subsidiaries     (12.8) 14.5
Proceeds from Divestiture of Businesses, Net of Cash Divested     0.0 0.0
Other     0.0 0.0
Net cash provided (required) by investing activities     (12.8) 14.5
Financing activities:        
Proceeds from issuance of common stock, net     0.0 0.0
Excess tax benefits from stock-based compensation     0.0 0.0
Payments to retire debt     0.0 0.0
Proceeds from issuance of debt     0.0 0.0
(Increase) decrease in restricted cash     1.3 (6.1)
Shares repurchased     0.0 0.0
Dividends paid to common shareholders     0.0 0.0
Purchase of shares to satisfy employee tax on vested stock     0.0 0.0
Contributions from noncontrolling interest     0.0 0.0
Contributions from controlling interest in partially-owned subsidiaries     0.0 (14.5)
Distributions to noncontrolling interest     0.0 0.0
Distributions to controlling interest in partially-owned subsidiaries     12.8 0.0
Change in intercompany financing between entities     12.3 (0.6)
Other     0.0 0.0
Net cash provided (required) by financing activities     26.4 (21.2)
Net increase (decrease) in cash and cash equivalents     1.3 (6.2)
Cash and cash equivalents at beginning of period     (40.3) (27.4)
Cash and cash equivalents at end of period $ (39.0) $ (33.6) $ (39.0) $ (33.6)
[1] (unaudited)