Consolidated Statements of Cash Flows (unaudited) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2017		Mar. 31, 2016
Operating activities:
Net income	$ 51.7		$ 102.1
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	72.8		69.4
Stock-based compensation expense	7.6		10.3
Excess tax benefits from stock-based compensation	0.0		(0.4)
Provision for deferred income taxes	55.3		60.5
Net gains on railcar lease fleet sales owned more than one year at the time of sale	0.0		(2.1)
(Gains) losses on dispositions of property and other assets	(1.3)		0.2
Non-cash interest expense	7.3		7.2
Other	0.1		(1.0)
Changes in assets and liabilities:
(Increase) decrease in receivables	24.1		67.9
(Increase) decrease in inventories	33.7		7.0
(Increase) decrease in other assets	22.1		30.4
Increase (decrease) in accounts payable	0.3		7.0
Increase (decrease) in accrued liabilities	(26.6)		(73.3)
Increase (decrease) in other liabilities	(27.0)		0.9
Net cash provided (required) by operating activities	220.1		286.1
Investing activities:
(Increase) decrease in short-term marketable securities	42.6		(115.0)
Proceeds from dispositions of property and other assets	3.6		1.1
Proceeds from railcar lease fleet sales owned more than one year at the time of sale	0.0		6.7
Capital expenditures – leasing, net of sold lease fleet railcars owned one year or less with a net cost of $ – and $5.7	(162.9)		(222.8)
Capital expenditures – manufacturing and other	(24.3)		(26.3)
Other	0.5		0.2
Net cash provided (required) by investing activities	(140.5)		(356.1)
Financing activities:
Excess tax benefits from stock-based compensation	0.0		0.4
Payments to retire debt	(26.7)		(30.4)
(Increase) decrease in restricted cash	(5.6)		10.2
Shares repurchased	0.0		(34.7)
Dividends paid to common shareholders	(16.7)		(16.8)
Purchase of shares to satisfy employee tax on vested stock	0.0		(0.1)
Distributions to noncontrolling interest	(7.3)		(6.8)
Other	0.0		(2.1)
Net cash provided (required) by financing activities	(56.3)		(80.3)
Net increase (decrease) in cash and cash equivalents	23.3		(150.3)
Cash and cash equivalents at beginning of period	563.4		786.0
Cash and cash equivalents at end of period	$ 586.7	[1]	$ 635.7

[1] (unaudited)