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Consolidated Statements of Cash Flows - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2015
Dec. 31, 2014
Dec. 31, 2013
Operating activities:      
Net income $ 826.0 $ 709.3 $ 392.4
Adjustments to reconcile net income to net cash provided by operating activities:      
Income from discontinued operations 0.0 0.0 (6.3)
Depreciation and amortization 266.4 244.6 211.5
Stock-based compensation expense 61.1 53.3 44.5
Excess tax benefits from stock-based compensation (13.3) (24.4) (8.5)
Provision (benefit) for deferred income taxes 116.6 (5.8) 45.8
Net gains on railcar lease fleet sales owned more than one year at the time of sale (166.1) (92.3) (20.4)
Gains on disposition of property and other assets (12.7) (12.1) (0.8)
Non-cash interest expense 30.1 30.7 30.8
Other (2.5) (4.5) (6.4)
Changes in assets and liabilities:      
(Increase) decrease in receivables (0.8) (56.4) 17.2
(Increase) decrease in inventories 128.5 (186.3) (95.6)
(Increase) decrease in restricted cash (9.4) 25.0 (25.0)
(Increase) decrease in other assets (40.9) (8.3) (29.1)
Increase (decrease) in accounts payable (78.6) 60.7 29.0
Increase (decrease) in accrued liabilities (169.6) 82.1 72.4
Increase (decrease) in other liabilities 4.9 2.6 8.2
Net cash provided by operating activities - continuing operations 939.7 818.2 659.7
Net cash provided by operating activities - discontinued operations 0.0 1.0 2.5
Net cash provided by operating activities 939.7 819.2 662.2
Investing activities:      
(Increase) decrease in short-term marketable securities (9.9) 74.7 (149.7)
Proceeds from railcar lease fleet sales owned more than one year at the time of sale 514.6 265.8 131.6
Proceeds from disposition of property and other assets 8.2 23.0 3.7
Capital expenditures – leasing, net of sold lease fleet railcars owned one year or less with a net cost of $295.9, $350.2 and $49.4 (833.8) (245.3) (581.1)
Capital expenditures – manufacturing and other (196.0) (219.3) (149.9)
Acquisitions, net of cash acquired (46.2) (714.4) (73.2)
Divestitures 51.3 0.0 0.0
Other 0.5 0.8 0.0
Net cash required by investing activities - continuing operations (511.3) (814.7) (818.6)
Net cash provided by investing activities - discontinued operations 0.0 0.0 0.6
Net cash required by investing activities (511.3) (814.7) (818.0)
Financing activities:      
Proceeds from issuance of common stock, net 0.3 0.6 2.5
Excess tax benefits from stock-based compensation 13.3 24.4 8.5
Payments to retire debt (587.2) (186.6) (262.1)
Proceeds from issuance of debt 242.4 727.3 175.0
(Increase) decrease in restricted cash 48.3 1.0 (12.5)
Shares repurchased (115.0) (36.5) (103.2)
Dividends paid to common shareholders (64.9) (54.4) (39.3)
Purchase of shares to satisfy employee tax on vested stock (27.5) (38.3) (9.6)
Proceeds from sale of interests in partially-owned leasing subsidiaries 0.0 0.0 296.7
Repurchase of noncontrolling interests in partially-owned leasing subsidiary 0.0 0.0 (84.0)
Contributions from noncontrolling interest 0.0 49.6 50.0
Distributions to noncontrolling interest (39.2) (28.2) (10.0)
Other (0.8) (2.5) 0.8
Net cash provided (required) by financing activities - continuing (530.3) 456.4 12.8
Net cash provided (required) by financing activities - discontinued operations 0.0 (1.5) (1.5)
Net cash provided (required) by financing activities (530.3) 454.9 11.3
Net increase (decrease) in cash and cash equivalents (101.9) 459.4 (144.5)
Cash and cash equivalents at beginning of period 887.9 428.5 573.0
Cash and cash equivalents at end of period 786.0 887.9 428.5
Supplemental Cash Flow Information      
Interest paid 164.3 158.3 163.6
Income tax payments made, net $ 326.8 $ 399.0 $ 110.9