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Consolidated Statements of Cash Flows (unaudited) - USD ($)
$ in Millions
9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Operating activities:    
Net income (loss) $ (99.6) $ 114.6
Loss from discontinued operations, net of income taxes (0.2) (2.3)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:    
Depreciation and amortization 199.5 210.5
Stock-based compensation expense 19.7 21.4
Provision for deferred income taxes 245.1 38.5
Net gains on railcar lease fleet sales owned more than one year at the time of sale (17.3) (44.7)
Gains on dispositions of property and other assets (6.3) (2.5)
Impairment of long-lived assets 369.4 0.0
Non-cash impact of restructuring activities 5.9 0.0
Non-cash interest expense 9.5 10.4
Loss on early extinguishment of debt 5.0 0.0
Other 2.1 (2.0)
Changes in operating assets and liabilities:    
(Increase) decrease in receivables 40.1 (28.1)
(Increase) decrease in income tax receivable (470.3) 19.3
(Increase) decrease in inventories 60.3 (108.2)
(Increase) decrease in other assets 142.0 (68.6)
Increase (decrease) in accounts payable (28.9) 38.7
Increase (decrease) in accrued liabilities (18.8) (28.8)
Increase (decrease) in other liabilities (0.8) (6.5)
Net cash provided by operating activities – continuing operations 456.8 166.3
Net cash used in operating activities – discontinued operations (0.2) (2.3)
Net cash provided by operating activities 456.6 164.0
Investing activities:    
Proceeds from dispositions of property and other assets 19.8 19.5
Proceeds from railcar lease fleet sales owned more than one year at the time of sale 138.7 175.0
Capital expenditures – leasing, net of sold lease fleet railcars owned one year or less with a net cost of $54.0 and $210.3 448.8 854.3
Payments to Acquire Leasing Assets Net of Sold Railcars Owned One Year or Less Net Cost 54.0 210.3
Capital expenditures – manufacturing and other (70.7) (63.3)
Other 0.0 (0.2)
Net cash used in investing activities (361.0) (723.3)
Financing activities:    
Payments to retire debt (795.5) (1,360.8)
Proceeds from issuance of debt 835.8 2,010.2
Shares repurchased (120.4) (154.9)
Dividends paid to common shareholders (67.8) (60.8)
Purchase of shares to satisfy employee tax on vested stock (9.3) (8.0)
Contributions from (distributions to) noncontrolling interest 6.1 2.1
Other (0.2) 0.0
Net cash provided by (used in) financing activities (151.3) 423.6
Net decrease in cash, cash equivalents, and restricted cash (55.7) (135.7)
Cash, cash equivalents, and restricted cash at beginning of period 277.6 350.8
Cash, cash equivalents, and restricted cash at end of period $ 221.9 $ 215.1