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Consolidated Statements of Cash Flows (unaudited) - USD ($)
$ in Millions
9 Months Ended
Sep. 30, 2018
Sep. 30, 2017
Operating activities:    
Net income $ 135.4 $ 173.6
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 234.0 220.7
Stock-based compensation expense 29.3 22.4
Provision for deferred income taxes 57.8 151.7
Net gains on railcar lease fleet sales owned more than one year at the time of sale (21.0) (40.2)
Gains on dispositions of property and other assets (4.1) (1.6)
Non-cash interest expense 15.0 24.1
Asset Impairment Charges 24.8 0.0
Other 4.8 (0.6)
Changes in assets and liabilities:    
(Increase) decrease in receivables (23.5) (94.3)
(Increase) decrease in inventories (110.1) 10.6
(Increase) decrease in other assets (57.1) (4.3)
Increase (decrease) in accounts payable 45.9 38.4
Increase (decrease) in accrued liabilities (14.7) 12.5
Increase (decrease) in other liabilities 3.4 (24.8)
Net cash provided (required) by operating activities 319.9 488.2
Investing activities:    
(Increase) decrease in short-term marketable securities 319.5 84.7
Proceeds from dispositions of property and other assets 11.8 8.1
Proceeds from railcar lease fleet sales owned more than one year at the time of sale 123.4 160.3
Capital expenditures – leasing, net of sold lease fleet railcars owned one year or less with a net cost of $63.2 and $74.3 (675.8) (360.4)
Capital expenditures – manufacturing and other (63.0) (61.9)
Acquisitions, net of cash acquired (25.0) (47.5)
Other (1.9) (0.3)
Net cash provided (required) by investing activities (311.0) (217.0)
Financing activities:    
Payments to retire debt (739.0) (334.9)
Proceeds from issuance of debt, net of debt issuance costs 561.3 534.1
Shares repurchased (156.1) (52.4)
Dividends paid to common shareholders (58.1) (53.0)
Purchase of shares to satisfy employee tax on vested stock (11.5) (14.1)
Distributions to noncontrolling interest (10.3) (41.4)
Other (3.1) (0.1)
Net cash provided (required) by financing activities (416.8) 38.2
Net (decrease) increase in cash, cash equivalents, and restricted cash (407.9) 309.4
Cash, cash equivalents, and restricted cash at beginning of period 973.8 741.6
Cash, cash equivalents, and restricted cash at end of period $ 565.9 $ 1,051.0