XML 71 R48.htm IDEA: XBRL DOCUMENT v3.3.1.900
Financial Statements for Guarantors of the Senior Notes (Tables)
 12 Months Ended
Dec. 31, 2015
Financial Statements for Guarantors of the Senior Notes [Abstract]  
Statements of Operations and Comprehensive Income
Statement of Operations and Comprehensive Income
 
 
 
 
 
 
 
 
 
Year Ended December 31, 2015
 
 
 
 
 
 
 
 
 
 
Parent
 
Combined
Guarantor
Subsidiaries
 
Combined
Non-Guarantor
Subsidiaries
 
Eliminations
 
Consolidated
 
(in millions)
Revenues
$
—

 
$
4,668.8

 
$
2,642.6

 
$
(918.7
)
 
$
6,392.7

Cost of revenues
(2.0
)
 
3,594.9

 
2,005.3

 
(942.0
)
 
4,656.2

Selling, engineering, and administrative expenses
147.0

 
153.3

 
176.1

 
—

 
476.4

Gains on dispositions on property
2.0

 
86.0

 
90.8

 
—

 
178.8

 
143.0

 
3,662.2

 
2,090.6

 
(942.0
)
 
4,953.8

Operating profit (loss)
(143.0
)
 
1,006.6

 
552.0

 
23.3

 
1,438.9

Other (income) expense
(118.7
)
 
68.6

 
237.0

 
—

 
186.9

Equity in earnings of subsidiaries, net of taxes
920.0

 
217.4

 
—

 
(1,137.4
)
 
—

Income from continuing operations before income taxes
895.7

 
1,155.4

 
315.0

 
(1,114.1
)
 
1,252.0

Provision (benefit) for income taxes
99.2

 
353.2

 
12.5

 
(38.9
)
 
426.0

Net income from continuing operations
796.5

 
802.2

 
302.5

 
(1,075.2
)
 
826.0

Income (loss) from discontinued operations, net of provision (benefit) for income taxes
—

 
—

 
—

 
—

 
—

Net income
796.5

 
802.2

 
302.5

 
(1,075.2
)
 
826.0

Net income attributable to noncontrolling interest
—

 
—

 
—

 
29.5

 
29.5

Net income attributable to controlling interest
$
796.5

 
$
802.2

 
$
302.5

 
$
(1,104.7
)
 
$
796.5

 
 
 
 
 
 
 
 
 
 
Net income
$
796.5

 
$
802.2

 
$
302.5

 
$
(1,075.2
)
 
$
826.0

Other comprehensive income (loss)
(6.0
)
 
—

 
5.5

 
—

 
(0.5
)
Comprehensive income
790.5

 
802.2

 
308.0

 
(1,075.2
)
 
825.5

Comprehensive income attributable to noncontrolling interest
—

 
—

 
—

 
32.5

 
32.5

Comprehensive income attributable to controlling interest
$
790.5

 
$
802.2

 
$
308.0

 
$
(1,107.7
)
 
$
793.0

Statement of Operations and Comprehensive Income
 
 
 
 
 
 
 
 
 
Year Ended December 31, 2014
 
 
 
 
 
 
 
 
 
 
Parent
 
Combined
Guarantor
Subsidiaries
 
Combined
Non-Guarantor
Subsidiaries
 
Eliminations
 
Consolidated
 
(in millions)
Revenues
$
—

 
$
4,290.3

 
$
2,700.2

 
$
(820.5
)
 
$
6,170.0

Cost of revenues
2.3

 
3,345.5

 
2,098.5

 
(826.5
)
 
4,619.8

Selling, engineering, and administrative expenses
115.6

 
124.9

 
163.1

 
—

 
403.6

Gains on dispositions on property
(1.4
)
 
41.3

 
64.5

 
—

 
104.4

 
119.3

 
3,429.1

 
2,197.1

 
(826.5
)
 
4,919.0

Operating profit (loss)
(119.3
)
 
861.2

 
503.1

 
6.0

 
1,251.0

Other (income) expense
(60.3
)
 
57.1

 
190.1

 
—

 
186.9

Equity in earnings of subsidiaries, net of taxes
741.7

 
191.8

 
—

 
(933.5
)
 
—

Income from continuing operations before income taxes
682.7

 
995.9

 
313.0

 
(927.5
)
 
1,064.1

Provision (benefit) for income taxes
4.5

 
297.2

 
50.6

 
2.5

 
354.8

Net income from continuing operations
678.2

 
698.7

 
262.4

 
(930.0
)
 
709.3

Income (loss) from discontinued operations, net of provision (benefit) for income taxes
—

 
—

 
—

 
—

 
—

Net income
678.2

 
698.7

 
262.4

 
(930.0
)
 
709.3

Net income attributable to noncontrolling interest
—

 
—

 
—

 
31.1

 
31.1

Net income attributable to controlling interest
$
678.2

 
$
698.7

 
$
262.4

 
$
(961.1
)
 
$
678.2

 
 
 
 
 
 
 
 
 
 
Net income
$
678.2

 
$
698.7

 
$
262.4

 
$
(930.0
)
 
$
709.3

Other comprehensive income (loss)
(33.9
)
 
(8.5
)
 
11.4

 
—

 
(31.0
)
Comprehensive income
644.3

 
690.2

 
273.8

 
(930.0
)
 
678.3

Comprehensive income attributable to noncontrolling interest
—

 
—

 
—

 
34.1

 
34.1

Comprehensive income attributable to controlling interest
$
644.3

 
$
690.2

 
$
273.8

 
$
(964.1
)
 
$
644.2


Statement of Operations and Comprehensive Income
 
 
 
 
 
 
 
 
 
Year Ended December 31, 2013
 
 
 
 
 
 
 
 
 
 
Parent
 
Combined
Guarantor
Subsidiaries
 
Combined
Non-Guarantor
Subsidiaries
 
Eliminations
 
Consolidated
 
(in millions)
Revenues
$
—

 
$
2,768.5

 
$
2,237.7

 
$
(640.9
)
 
$
4,365.3

Cost of revenues
0.6

 
2,227.5

 
1,740.2

 
(646.0
)
 
3,322.3

Selling, engineering, and administrative expenses
72.7

 
87.4

 
131.9

 
(0.7
)
 
291.3

Gains on dispositions on property
0.3

 
11.1

 
9.8

 
—

 
21.2

 
73.0

 
2,303.8

 
1,862.3

 
(646.7
)
 
3,592.4

Operating profit (loss)
(73.0
)
 
464.7

 
375.4

 
5.8

 
772.9

Other (income) expense
(71.5
)
 
40.5

 
213.4

 
—

 
182.4

Equity in earnings of subsidiaries, net of taxes
378.6

 
84.6

 
—

 
(463.2
)
 
—

Income from continuing operations before income taxes
377.1

 
508.8

 
162.0

 
(457.4
)
 
590.5

Provision (benefit) for income taxes
1.6

 
160.7

 
40.0

 
2.1

 
204.4

Net income from continuing operations
375.5

 
348.1

 
122.0

 
(459.5
)
 
386.1

Income (loss) from discontinued operations, net of provision (benefit) for income taxes
—

 
—

 
6.3

 
—

 
6.3

Net income
375.5

 
348.1

 
128.3

 
(459.5
)
 
392.4

Net income attributable to noncontrolling interest
—

 
—

 
—

 
16.9

 
16.9

Net income attributable to controlling interest
$
375.5

 
$
348.1

 
$
128.3

 
$
(476.4
)
 
$
375.5

 
 
 
 
 
 
 
 
 
 
Net income
$
375.5

 
$
348.1

 
$
128.3

 
$
(459.5
)
 
$
392.4

Other comprehensive income (loss)
48.2

 
8.4

 
18.1

 
—

 
74.7

Comprehensive income
423.7

 
356.5

 
146.4

 
(459.5
)
 
467.1

Comprehensive income attributable to noncontrolling interest
—

 
—

 
—

 
21.1

 
21.1

Comprehensive income attributable to controlling interest
$
423.7

 
$
356.5

 
$
146.4

 
$
(480.6
)
 
$
446.0
Balance Sheets
Balance Sheet
 
 
 
 
 
 
 
 
 
December 31, 2015
 
 
 
 
 
 
 
 
 
 
Parent
 
Combined
Guarantor
Subsidiaries
 
Combined
Non-Guarantor
Subsidiaries
 
Eliminations
 
Consolidated
 
(in millions)
Assets:
 
 
 
 
 
 
 
 
 
Cash and cash equivalents
$
768.3

 
$
1.7

 
$
51.1

 
$
(35.1
)
 
$
786.0

Short-term marketable securities
84.9

 
—

 
—

 
—

 
84.9

Receivables, net of allowance
0.1

 
196.3

 
173.5

 
—

 
369.9

Income tax receivable
94.9

 
—

 
—

 
—

 
94.9

Inventory
—

 
634.1

 
325.4

 
(16.4
)
 
943.1

Property, plant, and equipment, net
37.7

 
1,597.0

 
4,204.3

 
(491.0
)
 
5,348.0

Investments in and advances to subsidiaries
6,262.9

 
3,633.1

 
908.5

 
(10,804.5
)
 
—

Restricted cash
—

 
0.2

 
160.5

 
35.1

 
195.8

Goodwill and other assets
178.8

 
579.8

 
304.7

 
—

 
1,063.3

 
$
7,427.6

 
$
6,642.2

 
$
6,128.0

 
$
(11,311.9
)
 
$
8,885.9

Liabilities:
 
 
 
 
 
 
 
 
 
Accounts payable
$
9.9

 
$
62.9

 
$
144.3

 
$
(0.3
)
 
$
216.8

Accrued liabilities
224.9

 
137.3

 
168.5

 
(1.1
)
 
529.6

Debt
800.6

 
35.6

 
2,359.2

 
—

 
3,195.4

Deferred income
—

 
25.4

 
1.7

 
—

 
27.1

Deferred income taxes
31.2

 
711.3

 
9.4

 
0.3

 
752.2

Advances from subsidiaries
2,212.2

 
—

 
—

 
(2,212.2
)
 
—

Other liabilities
100.1

 
13.6

 
2.4

 
—

 
116.1

Total stockholders' equity
4,048.7

 
5,656.1

 
3,442.5

 
(9,098.6
)
 
4,048.7

 
$
7,427.6

 
$
6,642.2

 
$
6,128.0

 
$
(11,311.9
)
 
$
8,885.9

Balance Sheet
 
 
 
 
 
 
 
 
 
December 31, 2014
 
 
 
 
 
 
 
 
 
 
Parent
 
Combined
Guarantor
Subsidiaries
 
Combined
Non-Guarantor
Subsidiaries
 
Eliminations
 
Consolidated
 
(in millions)
Assets:
 
 
 
 
 
 
 
 
 
Cash and cash equivalents
$
827.7

 
$
11.1

 
$
89.4

 
$
(40.3
)
 
$
887.9

Short-term marketable securities
75.0

 
—

 
—

 
—

 
75.0

Receivables, net of allowance
—

 
187.5

 
218.2

 
(0.4
)
 
405.3

Income tax receivable
58.6

 
—

 
—

 
—

 
58.6

Inventory
—

 
801.9

 
284.6

 
(18.1
)
 
1,068.4

Property, plant, and equipment, net
29.3

 
813.6

 
4,624.3

 
(564.3
)
 
4,902.9

Investments in and advances to subsidiaries
4,431.1

 
2,610.6

 
526.4

 
(7,568.1
)
 
—

Restricted cash
—

 
—

 
194.4

 
40.3

 
234.7

Goodwill and other assets
175.1

 
575.3

 
342.3

 
(30.2
)
 
1,062.5

 
$
5,596.8

 
$
5,000.0

 
$
6,279.6

 
$
(8,181.1
)
 
$
8,695.3

Liabilities:
 
 
 
 
 
 
 
 
 
Accounts payable
$
15.0

 
$
155.5

 
$
125.5

 
$
(0.6
)
 
$
295.4

Accrued liabilities
235.8

 
280.3

 
193.5

 
—

 
709.6

Debt
784.0

 
38.9

 
2,691.6

 
—

 
3,514.5

Deferred income
—

 
34.5

 
1.9

 
—

 
36.4

Deferred income taxes
—

 
634.1

 
12.1

 
(13.6
)
 
632.6

Advances from subsidiaries
1,072.0

 
—

 
—

 
(1,072.0
)
 
—

Other liabilities
92.6

 
13.0

 
3.8

 
—

 
109.4

Total stockholders' equity
3,397.4

 
3,843.7

 
3,251.2

 
(7,094.9
)
 
3,397.4

 
$
5,596.8

 
$
5,000.0

 
$
6,279.6

 
$
(8,181.1
)
 
$
8,695.3


Asset and debt balances previously reported have been adjusted to reflect the adoption of ASU 2015-03 requiring debt issuance costs in financial statements to be presented as a direct deduction from the related debt liability rather than as an asset. See Note 1 Summary of Significant Accounting Policies.
Statements of Cash Flows
Statement of Cash Flows
 
 
 
 
 
 
 
 
 
Year Ended December 31, 2015
 
 
 
 
 
 
 
 
 
 
Parent
 
Combined
Guarantor
Subsidiaries
 
Combined
Non-Guarantor
Subsidiaries
 
Eliminations
 
Consolidated
 
(in millions)
Operating activities:
 
 
 
 
 
 
 
 
 
Net income
$
796.5

 
$
802.2

 
$
302.5

 
$
(1,075.2
)
 
$
826.0

Equity in earnings of subsidiaries, net of taxes
(920.0
)
 
(217.4
)
 
—

 
1,137.4

 
—

Other
57.8

 
(33.1
)
 
146.4

 
(57.4
)
 
113.7

Net cash provided (required) by operating activities - continuing
(65.7
)
 
551.7

 
448.9

 
4.8

 
939.7

Net cash provided by operating activities - discontinued
—

 
—

 
—

 
—

 
—

Net cash provided (required) by operating activities
(65.7
)
 
551.7

 
448.9

 
4.8

 
939.7

Investing activities:
 
 
 
 
 
 
 
 
 
(Increase) decrease in short-term marketable securities
(9.9
)
 
—

 
—

 
—

 
(9.9
)
Proceeds from railcar lease fleet sales owned more than one year
—

 
290.6

 
267.2

 
(43.2
)
 
514.6

Proceeds from disposition of property and other assets
—

 
1.9

 
6.3

 
—

 
8.2

Capital expenditures – leasing
—

 
(821.6
)
 
(55.4
)
 
43.2

 
(833.8
)
Capital expenditures – manufacturing and other
(14.5
)
 
(39.1
)
 
(142.4
)
 
—

 
(196.0
)
Acquisitions, net of cash acquired
—

 
—

 
(46.2
)
 
—

 
(46.2
)
(Increase) decrease in investment in partially-owned subsidiaries
—

 
24.8

 
—

 
(24.8
)
 
—

Divestitures
—

 
—

 
51.3

 
—

 
51.3

Other
—

 
0.2

 
0.3

 
—

 
0.5

Net cash provided (required) by investing activities - continuing
(24.4
)
 
(543.2
)
 
81.1

 
(24.8
)
 
(511.3
)
Net cash provided (required) by investing activities - discontinued
—

 
—

 
—

 
—

 
—

Net cash provided (required) by investing activities
(24.4
)
 
(543.2
)
 
81.1

 
(24.8
)
 
(511.3
)
Financing activities:
 
 
 
 
 
 
 
 
 
Proceeds from issuance of common stock, net
0.3

 
—

 
—

 
—

 
0.3

Excess tax benefits from stock-based compensation
13.3

 
—

 
—

 
—

 
13.3

Payments to retire debt
—

 
(3.2
)
 
(584.0
)
 
—

 
(587.2
)
Proceeds from issuance of debt
(1.5
)
 
—

 
243.9

 
—

 
242.4

(Increase) decrease in restricted cash
—

 
(0.2
)
 
43.3

 
5.2

 
48.3

Shares repurchased
(115.0
)
 
—

 
—

 
—

 
(115.0
)
Dividends paid to common shareholders
(64.9
)
 
—

 
—

 
—

 
(64.9
)
Purchase of shares to satisfy employee tax on vested stock
(27.5
)
 
—

 
—

 
—

 
(27.5
)
Proceeds from sale of interests in partially-owned leasing subsidiaries
—

 
—

 
—

 
—

 
—

Repurchase of noncontrolling interest in partially-owned leasing subsidiaries
—

 
—

 
—

 
—

 
—

Contributions from noncontrolling interest
—

 
—

 
—

 
—

 
—

Contributions from controlling interest in partially-owned leasing subsidiaries
—

 
—

 
—

 
—

 
—

Distributions to noncontrolling interest
—

 
—

 
(39.2
)
 
—

 
(39.2
)
Distributions to controlling interest in partially-owned leasing subsidiaries
—

 
—

 
(24.8
)
 
24.8

 
—

Change in intercompany financing between entities
226.0

 
(14.5
)
 
(206.7
)
 
(4.8
)
 
—

Other
—

 
—

 
(0.8
)
 
—

 
(0.8
)
Net cash provided (required) by financing activities - continuing
30.7

 
(17.9
)
 
(568.3
)
 
25.2

 
(530.3
)
Net cash required by financing activities - discontinued
—

 
—

 
—

 
—

 
—

Net cash provided (required) by financing activities
30.7

 
(17.9
)
 
(568.3
)
 
25.2

 
(530.3
)
Net increase (decrease) in cash and cash equivalents
(59.4
)
 
(9.4
)
 
(38.3
)
 
5.2

 
(101.9
)
Cash and cash equivalents at beginning of period
827.7

 
11.1

 
89.4

 
(40.3
)
 
887.9

Cash and cash equivalents at end of period
$
768.3

 
$
1.7

 
$
51.1

 
$
(35.1
)
 
$
786.0

Statement of Cash Flows
 
 
 
 
 
 
 
 
 
Year Ended December 31, 2014
 
 
 
 
 
 
 
 
 
 
Parent
 
Combined
Guarantor
Subsidiaries
 
Combined
Non-Guarantor
Subsidiaries
 
Eliminations
 
Consolidated
 
(in millions)
Operating activities:
 
 
 
 
 
 
 
 
 
Net income
$
678.2

 
$
698.7

 
$
262.4

 
$
(930.0
)
 
$
709.3

Equity in earnings of subsidiaries, net of taxes
(741.7
)
 
(191.8
)
 
—

 
933.5

 
—

Other
(26.5
)
 
(99.0
)
 
240.1

 
(5.7
)
 
108.9

Net cash provided (required) by operating activities - continuing
(90.0
)
 
407.9

 
502.5

 
(2.2
)
 
818.2

Net cash provided by operating activities - discontinued
—

 
—

 
1.0

 
—

 
1.0

Net cash provided (required) by operating activities
(90.0
)
 
407.9

 
503.5

 
(2.2
)
 
819.2

Investing activities:
 
 
 
 
 
 
 
 
 
(Increase) decrease in short-term marketable securities
74.7

 
—

 
—

 
—

 
74.7

Proceeds from railcar lease fleet sales owned more than one year
—

 
549.2

 
140.3

 
(423.7
)
 
265.8

Proceeds from disposition of property and other assets
0.3

 
—

 
22.7

 
—

 
23.0

Capital expenditures – leasing
—

 
(222.8
)
 
(446.2
)
 
423.7

 
(245.3
)
Capital expenditures – manufacturing and other
(8.3
)
 
(58.3
)
 
(152.7
)
 
—

 
(219.3
)
Acquisitions, net of cash acquired
—

 
(595.6
)
 
(118.8
)
 
—

 
(714.4
)
(Increase) decrease in investment in partially-owned subsidiaries
—

 
(4.5
)
 
—

 
4.5

 
—

Divestitures
—

 
—

 
—

 
—

 
—

Other
0.9

 
(0.8
)
 
0.7

 
—

 
0.8

Net cash provided (required) by investing activities - continuing
67.6

 
(332.8
)
 
(554.0
)
 
4.5

 
(814.7
)
Net cash provided by investing activities - discontinued
—

 
—

 
—

 
—

 
—

Net cash provided (required) by investing activities
67.6

 
(332.8
)
 
(554.0
)
 
4.5

 
(814.7
)
Financing activities:
 
 
 
 
 
 
 
 
 
Proceeds from issuance of common stock, net
0.6

 
—

 
—

 
—

 
0.6

Excess tax benefits from stock-based compensation
24.4

 
—

 
—

 
—

 
24.4

Payments to retire debt
(0.5
)
 
(3.1
)
 
(183.0
)
 
—

 
(186.6
)
Proceeds from issuance of debt
395.7

 
—

 
331.6

 
—

 
727.3

(Increase) decrease in restricted cash
—

 
—

 
13.9

 
(12.9
)
 
1.0

Shares repurchased
(36.5
)
 
—

 
—

 
—

 
(36.5
)
Dividends paid to common shareholders
(54.4
)
 
—

 
—

 
—

 
(54.4
)
Purchase of shares to satisfy employee tax on vested stock
(38.3
)
 
—

 
—

 
—

 
(38.3
)
Proceeds from sale of interests in partially-owned leasing subsidiaries
—

 
—

 
—

 
—

 
—

Repurchase of noncontrolling interest in partially-owned leasing subsidiaries
—

 
—

 
—

 
—

 
—

Contributions from noncontrolling interest
—

 
—

 
49.6

 
—

 
49.6

Contributions from controlling interest in partially-owned leasing subsidiaries
—

 
—

 
4.5

 
(4.5
)
 
—

Distributions to noncontrolling interest
—

 
—

 
(28.2
)
 
—

 
(28.2
)
Distributions to controlling interest in partially-owned leasing subsidiaries
—

 
—

 
—

 
—

 
—

Change in intercompany financing between entities
149.4

 
(62.3
)
 
(89.3
)
 
2.2

 
—

Other
—

 
(0.7
)
 
(1.8
)
 
—

 
(2.5
)
Net cash provided (required) by financing activities - continuing
440.4

 
(66.1
)
 
97.3

 
(15.2
)
 
456.4

Net cash required by financing activities - discontinued
—

 
—

 
(1.5
)
 
—

 
(1.5
)
Net cash provided (required) by financing activities
440.4

 
(66.1
)
 
95.8

 
(15.2
)
 
454.9

Net increase (decrease) in cash and cash equivalents
418.0

 
9.0

 
45.3

 
(12.9
)
 
459.4

Cash and cash equivalents at beginning of period
409.7

 
2.1

 
44.1

 
(27.4
)
 
428.5

Cash and cash equivalents at end of period
$
827.7

 
$
11.1

 
$
89.4

 
$
(40.3
)
 
$
887.9

Statement of Cash Flows
 
 
 
 
 
 
 
 
 
Year Ended December 31, 2013
 
 
 
 
 
 
 
 
 
 
Parent
 
Combined
Guarantor
Subsidiaries
 
Combined
Non-Guarantor
Subsidiaries
 
Eliminations
 
Consolidated
 
(in millions)
Operating activities:
 
 
 
 
 
 
 
 
 
Net income
$
375.5

 
$
348.1

 
$
128.3

 
$
(459.5
)
 
$
392.4

Equity in earnings of subsidiaries, net of taxes
(378.6
)
 
(84.6
)
 
—

 
463.2

 
—

Other
260.6

 
(79.7
)
 
218.7

 
(132.3
)
 
267.3

Net cash provided (required) by operating activities - continuing
257.5

 
183.8

 
347.0

 
(128.6
)
 
659.7

Net cash provided by operating activities - discontinued
—

 
—

 
2.5

 
—

 
2.5

Net cash provided (required) by operating activities
257.5

 
183.8

 
349.5

 
(128.6
)
 
662.2

Investing activities:
 
 
 
 
 
 
 
 
 
(Increase) decrease in short-term marketable securities
(149.7
)
 
—

 
—

 
—

 
(149.7
)
Proceeds from railcar lease fleet sales owned more than one year
—

 
322.4

 
57.1

 
(247.9
)
 
131.6

Proceeds from disposition of property and other assets
—

 
0.1

 
3.6

 
—

 
3.7

Capital expenditures – leasing
—

 
(545.6
)
 
(283.4
)
 
247.9

 
(581.1
)
Capital expenditures – manufacturing and other
(23.7
)
 
(53.6
)
 
(72.6
)
 
—

 
(149.9
)
Acquisitions, net of cash acquired
—

 
—

 
(73.2
)
 
—

 
(73.2
)
(Increase) decrease in investment in partially-owned subsidiary
—

 
47.3

 
—

 
(47.3
)
 
—

Divestitures
—

 
—

 
—

 
—

 
—

Other
108.8

 
—

 
—

 
(108.8
)
 
—

Net cash required by investing activities - continuing
(64.6
)
 
(229.4
)
 
(368.5
)
 
(156.1
)
 
(818.6
)
Net cash provided by investing activities - discontinued
—

 
—

 
0.6

 
—

 
0.6

Net cash required by investing activities
(64.6
)
 
(229.4
)
 
(367.9
)
 
(156.1
)
 
(818.0
)
Financing activities:
 
 
 
 
 
 
 
 
 
Proceeds from issuance of common stock, net
2.5

 
—

 
—

 
—

 
2.5

Excess tax benefits from stock-based compensation
8.5

 
—

 
—

 
—

 
8.5

Payments to retire debt
—

 
(52.2
)
 
(318.7
)
 
108.8

 
(262.1
)
Proceeds from issuance of debt
—

 
—

 
175.0

 
—

 
175.0

(Increase) decrease in restricted cash
—

 
—

 
2.5

 
(15.0
)
 
(12.5
)
Shares repurchased
(103.2
)
 
—

 
—

 
—

 
(103.2
)
Dividends paid to common shareholders
(39.3
)
 
—

 
—

 
—

 
(39.3
)
Purchase of shares to satisfy employee tax on vested stock
(9.6
)
 
—

 
—

 
—

 
(9.6
)
Proceeds from sale of interests in partially-owned leasing subsidiaries
—

 
—

 
296.7

 
—

 
296.7

Repurchase of noncontrolling interest in partially-owned leasing subsidiaries
—

 
(84.0
)
 
—

 
—

 
(84.0
)
Contributions from noncontrolling interest
—

 
—

 
50.0

 
—

 
50.0

Contributions from controlling interest in partially-owned leasing subsidiaries
—

 
—

 
—

 
—

 
—

Distributions to noncontrolling interest
—

 
—

 
(10.0
)
 
—

 
(10.0
)
Distributions to controlling interest in partially-owned leasing subsidiaries
—

 
—

 
(47.3
)
 
47.3

 
—

Change in intercompany financing between entities
(148.3
)
 
179.5

 
(159.8
)
 
128.6

 
—

Other
—

 
—

 
0.8

 
—

 
0.8

Net cash provided (required) by financing activities - continuing
(289.4
)
 
43.3

 
(10.8
)
 
269.7

 
12.8

Net cash required by financing activities - discontinued
—

 
—

 
(1.5
)
 
—

 
(1.5
)
Net cash provided (required) by financing activities
(289.4
)
 
43.3

 
(12.3
)
 
269.7

 
11.3

Net increase (decrease) in cash and cash equivalents
(96.5
)
 
(2.3
)
 
(30.7
)
 
(15.0
)
 
(144.5
)
Cash and cash equivalents at beginning of period
506.2

 
4.4

 
74.8

 
(12.4
)
 
573.0

Cash and cash equivalents at end of period
$
409.7

 
$
2.1

 
$
44.1

 
$
(27.4
)
 
$
428.5