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Consolidated Statements of Cash Flows - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2016
Dec. 31, 2015
Dec. 31, 2014
Operating activities:      
Net income $ 364.7 $ 826.0 $ 709.3
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 283.0 266.4 244.6
Stock-based compensation expense 41.3 61.1 53.3
Excess tax benefits from stock-based compensation (1.0) (13.3) (24.4)
Provision (benefit) for deferred income taxes 321.4 116.6 (5.8)
Net gains on railcar lease fleet sales owned more than one year at the time of sale (13.5) (166.1) (92.3)
Gains on disposition of property and other assets (3.9) (12.7) (12.1)
Non-cash interest expense 28.5 30.1 30.7
Other (3.4) (2.5) (4.5)
Changes in assets and liabilities:      
(Increase) decrease in receivables (16.0) (0.8) (56.4)
(Increase) decrease in inventories 273.3 128.5 (186.3)
(Increase) decrease in restricted cash 0.0 (9.4) 25.0
(Increase) decrease in other assets 18.6 (40.9) (8.3)
Increase (decrease) in accounts payable (60.7) (78.6) 60.7
Increase (decrease) in accrued liabilities (104.9) (169.6) 82.1
Increase (decrease) in other liabilities (37.2) 4.9 2.6
Net cash provided by operating activities - continuing operations 1,090.2 939.7 818.2
Net cash provided by operating activities - discontinued operations 0.0 0.0 1.0
Net cash provided by operating activities 1,090.2 939.7 819.2
Investing activities:      
(Increase) decrease in short-term marketable securities (149.8) (9.9) 74.7
Proceeds from railcar lease fleet sales owned more than one year at the time of sale 37.7 514.6 265.8
Proceeds from disposition of property and other assets 16.0 8.2 23.0
Capital expenditures – leasing, net of sold lease fleet railcars owned one year or less with a net cost of $92.0, $295.9, and $350.2 (799.1) (833.8) (245.3)
Capital expenditures – manufacturing and other (134.3) (196.0) (219.3)
Acquisitions, net of cash acquired 0.0 (46.2) (714.4)
Divestitures 0.0 51.3 0.0
Other 6.8 0.5 0.8
Net cash required by investing activities - continuing operations (1,022.7) (511.3) (814.7)
Net cash required by investing activities - discontinued operations 0.0 0.0 0.0
Net cash required by investing activities (1,022.7) (511.3) (814.7)
Financing activities:      
Proceeds from issuance of common stock, net 0.0 0.3 0.6
Excess tax benefits from stock-based compensation 1.0 13.3 24.4
Payments to retire debt (162.5) (587.2) (186.6)
Proceeds from issuance of debt 0.0 242.4 727.3
(Increase) decrease in restricted cash 17.6 48.3 1.0
Shares repurchased (34.7) (115.0) (36.5)
Dividends paid to common shareholders (66.7) (64.9) (54.4)
Purchase of shares to satisfy employee tax on vested stock (16.3) (27.5) (38.3)
Contributions from noncontrolling interest 0.0 0.0 49.6
Distributions to noncontrolling interest (26.4) (39.2) (28.2)
Other (2.1) (0.8) (2.5)
Net cash provided (required) by financing activities - continuing (290.1) (530.3) 456.4
Net cash required by financing activities - discontinued operations 0.0 0.0 (1.5)
Net cash provided (required) by financing activities (290.1) (530.3) 454.9
Net increase (decrease) in cash and cash equivalents (222.6) (101.9) 459.4
Cash and cash equivalents at beginning of period 786.0 887.9 428.5
Cash and cash equivalents at end of period 563.4 786.0 887.9
Supplemental Cash Flow Information      
Interest paid 151.0 164.3 158.3
Income tax payments made, net $ (57.9) $ 326.8 $ 399.0