Note 16. Financial Statements for Guarantors of Senior Notes Financial Statements for Guarantors of Senior Notes (Tables)

12 Months Ended

Dec. 31, 2019

Financial Statements for Guarantors [Abstract]

Condensed Income Statement [Table Text Block]

Condensed Consolidating Statement of Operations and Comprehensive Income
Year Ended December 31, 2019
	Parent			Combined Guarantor Subsidiaries		Combined Non-Guarantor Subsidiaries			Eliminations			Consolidated
	(in millions)
Revenues	$	—		$	2,138.9	$	1,148.7		$	(282.5	)	$	3,005.1
Cost of revenues	2.9			1,802.2		883.7			(323.1		)	2,365.7
Selling, engineering, and administrative expenses	102.4			105.7		54.7			—			262.8
Gains on dispositions of property	(0.3		)	24.4		30.3			—			54.4
Restructuring activities	2.4			0.2		12.1			—			14.7
	108.0			1,883.7		920.2			(323.1		)	2,588.8
Operating profit (loss)	(108.0		)	255.2		228.5			40.6			416.3
Other (income) expense	(82.5		)	84.2		214.4			(0.5		)	215.6
Equity in earnings of subsidiaries, net of taxes	193.5			46.6		18.7			(258.8		)	—
Income from continuing operations before income taxes	168.0			217.6		32.8			(217.7		)	200.7
Provision (benefit) for income taxes	27.3			60.3		0.7			(26.8		)	61.5
Income from continuing operations	140.7			157.3		32.1			(190.9		)	139.2
Loss from discontinued operations, net of income taxes	(3.1		)	—		—			—			(3.1		)
Net income	137.6			157.3		32.1			(190.9		)	136.1
Net loss attributable to noncontrolling interest	—			—		—			(1.5		)	(1.5		)
Net income attributable to controlling interest	$	137.6		$	157.3	$	32.1		$	(189.4	)	$	137.6
Net income	$	137.6		$	157.3	$	32.1		$	(190.9	)	$	136.1
Other comprehensive income (loss)	(26.7		)	—		(8.3		)	—			(35.0		)
Comprehensive income	110.9			157.3		23.8			(190.9		)	101.1
Comprehensive loss attributable to noncontrolling interest	—			—		—			(0.2		)	(0.2		)
Comprehensive income attributable to controlling interest	$	110.9		$	157.3	$	23.8		$	(190.7	)	$	101.3

Condensed Consolidating Statement of Operations and Comprehensive Income
Year Ended December 31, 2018
	Parent			Combined Guarantor Subsidiaries			Combined Non-Guarantor Subsidiaries			Eliminations			Consolidated
	(in millions)
Revenues	$	—		$	1,817.9		$	992.9		$	(301.7	)	$	2,509.1
Cost of revenues	2.1			1,545.2			724.5			(333.0		)	1,938.8
Selling, engineering, and administrative expenses	141.7			113.0			41.9			—			296.6
Gains on dispositions of property	1.0			17.6			22.8			—			41.4
	142.8			1,640.6			743.6			(333.0		)	2,194.0
Operating profit (loss)	(142.8		)	177.3			249.3			31.3			315.1
Other (income) expense	(70.3		)	81.3			152.5			—			163.5
Equity in earnings of subsidiaries, net of taxes	246.8			74.6			19.5			(340.9		)	—
Income from continuing operations before income taxes	174.3			170.6			116.3			(309.6		)	151.6
Provision (benefit) for income taxes	(1.0		)	48.8			11.2			(16.4		)	42.6
Income from continuing operations	175.3			121.8			105.1			(293.2		)	109.0
Income (loss) from discontinued operations, net of income taxes	(16.0		)	—			70.1			—			54.1
Net income	159.3			121.8			175.2			(293.2		)	163.1
Net income attributable to noncontrolling interest	—			—			—			3.8			3.8
Net income attributable to controlling interest	$	159.3		$	121.8		$	175.2		$	(297.0	)	$	159.3
Net income	$	159.3		$	121.8		$	175.2		$	(293.2	)	$	163.1
Other comprehensive loss	(5.8		)	(0.4		)	(7.0		)	—			(13.2		)
Comprehensive income	153.5			121.4			168.2			(293.2		)	149.9
Comprehensive income attributable to noncontrolling interest	—			—			—			5.2			5.2
Comprehensive income attributable to controlling interest	$	153.5		$	121.4		$	168.2		$	(298.4	)	$	144.7

Condensed Consolidating Statement of Operations and Comprehensive Income
Year Ended December 31, 2017
	Parent			Combined Guarantor Subsidiaries			Combined Non-Guarantor Subsidiaries		Eliminations			Consolidated
	(in millions)
Revenues	$	—		$	1,738.0		$	955.8	$	(296.4	)	$	2,397.4
Cost of revenues	3.0			1,389.2			703.9		(320.9		)	1,775.2
Selling, engineering, and administrative expenses	166.9			129.7			42.7		—			339.3
Gains on dispositions of property	1.1			71.0			13.3		—			85.4
	168.8			1,447.9			733.3		(320.9		)	2,029.1
Operating profit (loss)	(168.8		)	290.1			222.5		24.5			368.3
Other (income) expense	(158.6		)	127.2			204.3		—			172.9
Equity in earnings of subsidiaries, net of taxes	617.0			55.5			3.8		(676.3		)	—
Income from continuing operations before income taxes	606.8			218.4			22.0		(651.8		)	195.4
Provision (benefit) for income taxes	(87.0		)	(310.3		)	6.0		(23.5		)	(414.8		)
Income from continuing operations	693.8			528.7			16.0		(628.3		)	610.2
Income from discontinued operations, net of income taxes	8.7			—			94.7		—			103.4
Net income	702.5			528.7			110.7		(628.3		)	713.6
Net income attributable to noncontrolling interest	—			—			—		11.1			11.1
Net income attributable to controlling interest	$	702.5		$	528.7		$	110.7	$	(639.4	)	$	702.5
Net income	$	702.5		$	528.7		$	110.7	$	(628.3	)	$	713.6
Other comprehensive income	8.3			0.2			2.8		—			11.3
Comprehensive income	710.8			528.9			113.5		(628.3		)	724.9
Comprehensive income attributable to noncontrolling interest	—			—			—		13.7			13.7
Comprehensive income attributable to controlling interest	$	710.8		$	528.9		$	113.5	$	(642.0	)	$	711.2

Condensed Balance Sheet [Table Text Block]

Condensed Consolidating Balance Sheet
December 31, 2019
	Parent		Combined Guarantor Subsidiaries		Combined Non-Guarantor Subsidiaries			Eliminations			Consolidated
	(in millions)
Assets:
Cash and cash equivalents	$	155.1	$	0.1	$	36.3		$	(25.3	)	$	166.2
Receivables, net of allowance	1.3		185.7		74.0			(0.9		)	260.1
Income tax receivable	14.6		—		0.1			—			14.7
Inventory	—		398.8		34.7			(0.1		)	433.4
Property, plant, and equipment, net	37.8		1,320.7		6,595.8			(843.7		)	7,110.6
Investments in and advances to subsidiaries	4,600.0		3,136.2		347.0			(8,083.2		)	—
Restricted cash	—		—		86.1			25.3			111.4
Goodwill and other assets	190.9		394.4		58.6			(38.9		)	605.0
	$	4,999.7	$	5,435.9	$	7,232.6		$	(8,966.8	)	$	8,701.4
Liabilities:
Accounts payable	$	5.3	$	109.1	$	90.6		$	(1.1	)	$	203.9
Accrued liabilities	166.7		23.2		152.9			(0.7		)	342.1
Debt	522.8		—		4,359.1			—			4,881.9
Deferred income taxes	—		844.6		(8.2		)	(38.1		)	798.3
Advances from subsidiaries	1,871.8		—		—			(1,871.8		)	—
Other liabilities	54.2		40.9		1.2			—			96.3
Total stockholders' equity	2,378.9		4,418.1		2,637.0			(7,055.1		)	2,378.9
	$	4,999.7	$	5,435.9	$	7,232.6		$	(8,966.8	)	$	8,701.4

Condensed Consolidating Balance Sheet
December 31, 2018
	Parent		Combined Guarantor Subsidiaries			Combined Non-Guarantor Subsidiaries		Eliminations			Consolidated
	(in millions)
Assets:
Cash and cash equivalents	$	154.7	$	4.1		$	59.1	$	(38.7	)	$	179.2
Receivables, net of allowance	12.5		181.8			82.3		—			276.6
Income tax receivable	40.4		—			—		—			40.4
Inventory	—		485.8			40.9		(2.0		)	524.7
Property, plant, and equipment, net	42.0		1,436.3			5,579.7		(723.6		)	6,334.4
Investments in and advances to subsidiaries	4,505.2		2,925.0			651.0		(8,081.2		)	—
Restricted cash	—		—			132.9		38.7			171.6
Goodwill and other assets	205.1		198.0			98.1		(38.9		)	462.3
	$	4,959.9	$	5,231.0		$	6,644.0	$	(8,845.7	)	$	7,989.2
Liabilities:
Accounts payable	$	8.6	$	134.0		$	69.9	$	(0.4	)	$	212.1
Accrued liabilities	184.3		55.4			128.7		(0.1		)	368.3
Debt	397.4		—			3,631.8		—			4,029.2
Deferred income	—		16.5			1.2		—			17.7
Deferred income taxes	—		781.7			—		(38.6		)	743.1
Advances from subsidiaries	1,750.8		(0.1		)	—		(1,750.7		)	—
Other liabilities	56.8		—			—		—			56.8
Total stockholders' equity	2,562.0		4,243.5			2,812.4		(7,055.9		)	2,562.0
	$	4,959.9	$	5,231.0		$	6,644.0	$	(8,845.7	)	$	7,989.2

Condensed Cash Flow Statement [Table Text Block]

Condensed Consolidating Statement of Cash Flows
Year Ended December 31, 2019
	Parent			Combined Guarantor Subsidiaries			Combined Non-Guarantor Subsidiaries			Eliminations			Consolidated
	(in millions)
Operating activities:
Net income	$	137.6		$	157.3		$	32.1		$	(190.9	)	$	136.1
Loss from discontinued operations	3.1			—			—			—			3.1
Equity in earnings of subsidiaries, net of taxes	(193.5		)	(46.6		)	(18.7		)	258.8			—
Other	86.4			(93.2		)	282.9			(18.6		)	257.5
Net cash provided by operating activities – continuing operations	33.6			17.5			296.3			49.3			396.7
Net cash used in operating activities – discontinued operations	(3.1		)	—			—			—			(3.1		)
Net cash provided by operating activities	$	30.5		$	17.5		$	296.3		$	49.3		$	393.6
Investing activities:
Proceeds from railcar lease fleet sales owned more than one year	—			1,462.8			196.8			(1,453.9		)	205.7
Proceeds from dispositions of property and other assets	—			7.8			12.4			—			20.2
Capital expenditures – leasing	—			(1,142.8		)	(1,433.3		)	1,453.9			(1,122.2		)
Capital expenditures – manufacturing and other	(4.1		)	(53.6		)	(39.3		)	—			(97.0		)
(Increase) decrease in investment in partially-owned subsidiaries	—			1.7			—			(1.7		)	—
Net cash (used in) provided by investing activities	(4.1		)	275.9			(1,263.4		)	(1.7		)	(993.3		)
Financing activities:
Payments to retire debt	(875.0		)	—			(849.1		)	—			(1,724.1		)
Proceeds from issuance of debt	1,000.0			—			1,567.8			—			2,567.8
Shares repurchased	(224.7		)	—			—			—			(224.7		)
Dividends paid to common shareholders	(82.1		)	—			—			—			(82.1		)
Purchase of shares to satisfy employee tax on vested stock	(8.2		)	—			—			—			(8.2		)
Distributions to noncontrolling interest	—			—			(2.2		)	—			(2.2		)
Distributions to controlling interest in partially-owned subsidiaries	—			—			(1.7		)	1.7			—
Change in intercompany financing between entities	164.0			(297.4		)	182.7			(49.3		)	—
Net cash (used in) provided by financing activities	(26.0		)	(297.4		)	897.5			(47.6		)	526.5
Net decrease in cash, cash equivalents, and restricted cash	0.4			(4.0		)	(69.6		)	—			(73.2		)
Cash, cash equivalents, and restricted cash at beginning of period	154.7			4.1			192.0			—			350.8
Cash, cash equivalents, and restricted cash at end of period	$	155.1		$	0.1		$	122.4		$	—		$	277.6

Condensed Consolidating Statement of Cash Flows
Year Ended December 31, 2018
	Parent			Combined Guarantor Subsidiaries			Combined Non-Guarantor Subsidiaries			Eliminations			Consolidated
	(in millions)
Operating activities:
Net income	$	159.3		$	121.8		$	175.2		$	(293.2	)	$	163.1
Income (loss) from discontinued operations	16.0			—			(70.1		)	—			(54.1		)
Equity in earnings of subsidiaries, net of taxes	(246.8		)	(74.6		)	(19.5		)	340.9			—
Other	(57.8		)	79.3			157.3			(13.6		)	165.2
Net cash (used in) provided by operating activities – continuing operations	(129.3		)	126.5			242.9			34.1			274.2
Net cash (used in) provided by operating activities – discontinued operations	(16.0		)	—			120.9			—			104.9
Net cash (used in) provided by operating activities	(145.3		)	126.5			363.8			34.1			379.1
Investing activities:
Decrease in short-term marketable securities	319.5			—			—			—			319.5
Proceeds from railcar lease fleet sales owned more than one year	—			759.5			118.7			(647.7		)	230.5
Proceeds from dispositions of property and other assets	0.1			4.1			12.9			—			17.1
Capital expenditures – leasing	—			(807.3		)	(788.7		)	647.7			(948.3		)
Capital expenditures – manufacturing and other	(14.5		)	(18.6		)	(4.2		)	—			(37.3		)
(Increase) decrease in investment in partially-owned subsidiaries	—			7.5			—			(7.5		)	—
Other	—			(1.9		)	8.1			—			6.2
Net cash (used in) provided by investing activities – continuing operations	305.1			(56.7		)	(653.2		)	(7.5		)	(412.3		)
Net cash used in investing activities – discontinued operations	—			—			(78.2		)	—			(78.2		)
Net cash (used in) provided by investing activities	305.1			(56.7		)	(731.4		)	(7.5		)	(490.5		)
Financing activities:
Payments to retire debt	(647.6		)	(1.8		)	(238.4		)	—			(887.8		)
Proceeds from issuance of debt	—			—			1,206.6			—			1,206.6
Shares repurchased	(506.1		)	—			—			—			(506.1		)
Dividends paid to common shareholders	(77.4		)	—			—			—			(77.4		)
Purchase of shares to satisfy employee tax on vested stock	(12.2		)	—			—			—			(12.2		)
Distributions to noncontrolling interest	—			—			(10.9		)	—			(10.9		)
Distributions to controlling interest in partially-owned subsidiaries	—			—			(7.5		)	7.5			—
Change in intercompany financing between entities	474.3			(65.5		)	(374.7		)	(34.1		)	—
Other	—			—			(3.3		)	—			(3.3		)
Net cash (used in) provided by financing activities – continuing operations	(769.0		)	(67.3		)	571.8			(26.6		)	(291.1		)
Cash distributions to Arcosa, Inc.	—			—			(220.5		)	—			(220.5		)
Net cash (used in) provided by financing activities	(769.0		)	(67.3		)	351.3			(26.6		)	(511.6		)
Net (decrease) increase in cash, cash equivalents, and restricted cash	(609.2		)	2.5			(16.3		)	—			(623.0		)
Cash, cash equivalents, and restricted cash at beginning of period	763.9			1.6			208.3			—			973.8
Cash, cash equivalents, and restricted cash at end of period	$	154.7		$	4.1		$	192.0		$	—		$	350.8

Condensed Consolidating Statement of Cash Flows
Year Ended December 31, 2017
	Parent			Combined Guarantor Subsidiaries			Combined Non-Guarantor Subsidiaries			Eliminations			Consolidated
	(in millions)
Operating activities:
Net income	$	702.5		$	528.7		$	110.7		$	(628.3	)	$	713.6
Loss from discontinued operations	(8.7		)	—			(94.7		)	—			(103.4		)
Equity in earnings of subsidiaries, net of taxes	(617.0		)	(55.5		)	(3.8		)	676.3			—
Other	116.8			(274.0		)	152.1			5.0			(0.1		)
Net cash provided by operating activities – continuing operations	193.6			199.2			164.3			53.0			610.1
Net cash provided by operating activities – discontinued operations	8.7			—			142.8			—			151.5
Net cash provided by operating activities	202.3			199.2			307.1			53.0			761.6
Investing activities:
Decrease in short-term marketable securities	(84.8		)	—			—			—			(84.8		)
Proceeds from railcar lease fleet sales owned more than one year	—			663.3			61.3			(363.9		)	360.7
Proceeds from dispositions of property and other assets	—			1.4			6.4			—			7.8
Capital expenditures – leasing	—			(589.8		)	(382.4		)	363.9			(608.3		)
Capital expenditures – manufacturing and other	(7.4		)	(7.5		)	(7.1		)	—			(22.0		)
(Increase) decrease in investment in partially-owned subsidiaries	—			35.0			—			(35.0		)	—
Other	—			—			0.3			—			0.3
Net cash (used in) provided by investing activities – continuing operations	(92.2		)	102.4			(321.5		)	(35.0		)	(346.3		)
Net cash used in investing activities – discontinued operations	—			—			(126.4		)	—			(126.4		)
Net cash (used in) provided by investing activities	(92.2		)	102.4			(447.9		)	(35.0		)	(472.7		)
Financing activities:
Payments to retire debt	—			(3.8		)	(371.5		)	—			(375.3		)
Proceeds from issuance of debt	—			—			533.5			—			533.5
Shares repurchased	(79.4		)	—			—			—			(79.4		)
Dividends paid to common shareholders	(72.6		)	—			—			—			(72.6		)
Purchase of shares to satisfy employee tax on vested stock	(14.4		)	—			—			—			(14.4		)
Distributions to noncontrolling interest	—			—			(48.7		)	—			(48.7		)
Distributions to controlling interest in partially-owned subsidiaries	—			—			(35.0		)	35.0			—
Change in intercompany financing between entities	282.3			(301.5		)	72.2			(53.0		)	—
Other	—			—			0.2			—			0.2
Net cash (used in) provided by financing activities	115.9			(305.3		)	150.7			(18.0		)	(56.7		)
Net (decrease) increase in cash, cash equivalents, and restricted cash	226.0			(3.7		)	9.9			—			232.2
Cash, cash equivalents, and restricted cash at beginning of period	537.9			5.3			198.4			—			741.6
Cash, cash equivalents, and restricted cash at end of period	$	763.9		$	1.6		$	208.3		$	—		$	973.8