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Railcar Leasing and Management Services Group (Tables)
 6 Months Ended
Jun. 30, 2020
Sale Leaseback Transaction [Line Items]  
Selected consolidating financial information for the Leasing Group Selected consolidated financial information for the Leasing Group is as follows:
June 30, 2020
Wholly-
Owned
Subsidiaries		Partially-Owned SubsidiariesTotal Leasing Group
Eliminations — Lease Subsidiary(1)
Adjusted Total Leasing Group
(in millions)
Cash and cash equivalents$2.9  $—  $2.9  $—  $2.9  
Accounts receivable77.2  9.2  86.4  —  86.4  
Property, plant, and equipment, net (2)
5,557.1  1,648.2  7,205.3  (832.6) 6,372.7  
Restricted cash109.2  27.7  136.9  —  136.9  
Other assets37.3  1.3  38.6  —  38.6  
Total assets$5,783.7  $1,686.4  $7,470.1  $(832.6) $6,637.5  
Accounts payable and accrued liabilities$145.0  $40.3  $185.3  $—  $185.3  
Debt, net3,045.7  1,251.7  4,297.4  —  4,297.4  
Deferred income taxes922.6  1.2  923.8  (195.2) 728.6  
Other liabilities29.0  —  29.0  —  29.0  
Total liabilities4,142.3  1,293.2  5,435.5  (195.2) 5,240.3  
Noncontrolling interest—  269.1  269.1  —  269.1  
Total Equity$1,641.4  $124.1  $1,765.5  $(637.4) $1,128.1  
December 31, 2019
Wholly-
Owned
Subsidiaries		Partially-Owned SubsidiariesTotal Leasing Group
Eliminations — Lease Subsidiary(1)
Adjusted Total Leasing Group
(in millions)
Cash and cash equivalents$1.8  $—  $1.8  $—  $1.8  
Accounts receivable73.9  8.7  82.6  —  82.6  
Property, plant, and equipment, net5,818.9  1,786.7  7,605.6  (903.8) 6,701.8  
Restricted cash78.4  33.0  111.4  —  111.4  
Other assets209.8  1.4  211.2  —  211.2  
Total assets$6,182.8  $1,829.8  $8,012.6  $(903.8) $7,108.8  
Accounts payable and accrued liabilities$100.7  $44.6  $145.3  $—  $145.3  
Debt, net3,080.7  1,278.4  4,359.1  —  4,359.1  
Deferred income taxes861.7  1.1  862.8  (184.8) 678.0  
Other liabilities32.7  —  32.7  —  32.7  
Total liabilities4,075.8  1,324.1  5,399.9  (184.8) 5,215.1  
Noncontrolling interest—  348.8  348.8  —  348.8  
Total Equity$2,107.0  $156.9  $2,263.9  $(719.0) $1,544.9  
(1) Net deferred profit on railcars sold to the Leasing Group consists of intersegment profit that is eliminated in consolidation. Net deferred profit and the related deferred tax impact are included as adjustments to the property, plant, and equipment, net and deferred income taxes line items, respectively, in the Eliminations – Lease Subsidiary column above to reflect the net book value of the railcars purchased by the Leasing Group from the Rail Products Group based on manufacturing cost. See Note 4 and Note 7 for a further discussion regarding our investment in our partially-owned leasing subsidiaries and the related indebtedness.
(2) See Note 10 for further information regarding impairment of long-lived assets recorded in the three and six months ended June 30, 2020.
Selected consolidating income statement information for the Leasing Group
 Three Months Ended June 30,Six Months Ended June 30,
 20202019Percent20202019Percent
($ in millions)Change($ in millions)Change
Revenues:
Leasing and management$182.7  $189.4  (3.5)%$374.7  $376.5  (0.5)%
Sales of railcars owned one year or less at the time of sale (1)
10.1  87.7  (88.5)%54.4  101.0  (46.1)%
Total revenues$192.8  $277.1  (30.4)%$429.1  $477.5  (10.1)%
Operating profit (loss)(2):
Leasing and management$78.5  $77.7  1.0 %$161.0  $154.8  4.0 %
Railcar sales:
Railcars owned one year or less at the time of sale
(1.3) 8.4  (115.5)%0.4  9.2  (95.7)%
Railcars owned more than one year at the time of sale
5.7  18.7  (69.5)%14.4  26.6  (45.9)%
Total operating profit$82.9  $104.8  (20.9)%$175.8  $190.6  (7.8)%
Total operating profit margin43.0 %37.8 %41.0 %39.9 %
Leasing and management operating profit margin
43.0 %41.0 %43.0 %41.1 %
Selected expense information:
Depreciation (3)
$54.0  $57.8  (6.6)%$107.6  $112.2  (4.1)%
Maintenance and compliance$23.0  $26.5  (13.2)%$48.9  $54.3  (9.9)%
Rent$3.0  $4.3  (30.2)%$6.0  $9.8  (38.8)%
Selling, engineering, and administrative expenses
$13.0  $12.7  2.4 %$27.3  $25.5  7.1 %
Interest $47.1  $50.4  (6.5)%$102.2  $96.4  6.0 %
(1) Includes revenues associated with sales-type leases of $32.3 million and $34.2 million for the three and six months ended June 30, 2019, respectively.
(2) Operating profit includes: depreciation; maintenance and compliance; rent; and selling, engineering, and administrative expenses. Amortization of deferred profit on railcars sold from the Rail Products Group to the Leasing Group is included in the operating profit of the Leasing Group, resulting in the recognition of depreciation expense based on our original manufacturing cost of the railcars. Interest expense is not a component of operating profit and includes the effect of hedges.
(3) Effective January 1, 2020, we revised the estimated useful lives and salvage values of certain railcar types in our lease fleet. This change in estimate resulted in a decrease in depreciation expense in the three and six months ended June 30, 2020 of approximately $7.7 million and $15.4 million, respectively. This decrease was partially offset by higher depreciation associated with growth in the lease fleet. See Note 1 of the Consolidated Financial Statements for further information.
Schedule of proceeds from leased railcars
During the three and six months ended June 30, 2020 and 2019, information related to the sales of leased railcars is as follows:
Three Months Ended
June 30,		Six Months Ended
June 30,
2020201920202019
(in millions)
Sales of leased railcars:
Railcars owned one year or less at the time of sale (1)
$10.1  $87.7  $54.4  $101.0  
Railcars owned more than one year at the time of sale
63.7  70.5  132.2  99.9  
$73.8  $158.2  $186.6  $200.9  
Operating profit (loss) on sales of leased railcars:
Railcars owned one year or less at the time of sale$(1.3) $8.4  $0.4  $9.2  
Railcars owned more than one year at the time of sale5.7  18.7  14.4  26.6  
$4.4  $27.1  $14.8  $35.8  
Operating profit (loss) margin on sales of leased railcars:
Railcars owned one year or less at the time of sale(12.9)%9.6 %0.7 %9.1 %
Railcars owned more than one year at the time of sale8.9 %26.5 %10.9 %26.6 %
Weighted average operating profit margin on sales of leased railcars
6.0 %17.1 %7.9 %17.8 %
(1) Includes revenues associated with sales-type leases of $32.3 million and $34.2 million for the three and six months ended June 30, 2019, respectively.
Future contractual minimum rental revenues on leases Future contractual minimum rental revenues on operating leases related to our wholly-owned and partially-owned subsidiaries are as follows:
Remaining six months of 20202021202220232024ThereafterTotal
 (in millions)
Future contractual minimum rental revenues
$295.0  $488.3  $384.0  $279.2  $199.0  $353.3  $1,998.8  
Operating leases  
Sale Leaseback Transaction [Line Items]  
Future operating lease obligations and future contractual minimum rental revenues Future amounts due as well as future contractual minimum rental revenues related to the Leasing Group's railcar operating lease obligations are as follows: 
Remaining six months of 20202021202220232024ThereafterTotal
 (in millions)
Future operating lease obligations
$4.7  $8.2  $7.5  $5.5  $2.3  $0.9  $29.1  
Future contractual minimum rental revenues
$3.6  $5.7  $3.9  $1.7  $0.8  $0.5  $16.2