Summary of Significant Accounting Policies (Tables)

3 Months Ended

Mar. 31, 2021

Accounting Policies [Abstract]

Remaining Performance Obligation

The following table includes estimated revenue expected to be recognized in future periods related to performance obligations that are unsatisfied or partially satisfied as of March 31, 2021 and the percentage of the outstanding performance obligations as of March 31, 2021 expected to be delivered during the remainder of 2021:

	Unsatisfied performance obligations at March 31, 2021
	Total Amount		Percent expected to be delivered in 2021
	(in millions)
Rail Products Group:
Rail products:
External customers	$	694.1
Leasing Group	295.8
	$	989.9	55.3	%
Maintenance services	$	3.3	100.0	%
Railcar Leasing and Management Services Group	$	78.2	17.6	%

Lessee, Operating Lease, Disclosure [Table Text Block]

The following table summarizes the impact of our operating leases on our Consolidated Financial Statements (in millions, except lease term and discount rate):

	Three Months Ended March 31,
	2021			2020
Consolidated Statements of Operations
Operating lease expense	$	3.7		$	3.9
Short-term lease expense	$	—		$	0.2
	March 31, 2021			December 31, 2020
Consolidated Balance Sheets
Right-of-use assets (1)	$	86.9		$	77.1
Lease liabilities (2)	$	110.2		$	96.9
Weighted average remaining lease term	10.9 years			11.3 years
Weighted average discount rate	3.1		%	3.3		%
	Three Months Ended March 31,
	2021			2020
Consolidated Statements of Cash Flows
Cash flows from operating activities	$	3.7		$	3.9
Right-of-use assets recognized in exchange for new lease liabilities	$	13.8		$	2.1

(1) Included in other assets in our Consolidated Balance Sheet.

(2) Included in other liabilities in our Consolidated Balance Sheet.

Lessee, Operating Lease, Liability, Maturity [Table Text Block]

Future contractual minimum operating lease liabilities will mature as follows (in millions):

	Leasing Group		Non-Leasing Group		Total
Remaining nine months of 2021	$	7.6	$	3.1	$	10.7
2022	9.3		8.0		17.3
2023	7.6		8.1		15.7
2024	4.3		6.9		11.2
2025	2.4		6.2		8.6
Thereafter	3.8		64.8		68.6
Total operating lease payments	$	35.0	$	97.1	$	132.1
Less: Present value adjustment					(21.9)
Total operating lease liabilities					$	110.2

Leases of Lessor Disclosure [Text Block]

The following table summarizes the impact of our leases on our Consolidated Statement of Operations:

	Three Months Ended March 31,
	2021		2020
	(in millions)
Operating lease revenues	$	163.0	$	172.2
Variable operating lease revenues	$	13.4	$	12.6
Interest income on sales-type lease receivables	$	—	$	1.7

Lessor, Payments to be Received, Maturity [Table Text Block]

Future contractual minimum revenues for operating leases will mature as follows (in millions)(1):

Remaining nine months of 2021	$	423.5
2022	457.5
2023	339.8
2024	252.7
2025	174.9
Thereafter	307.6
Total	$	1,956.0

(1) Total contractual minimum rental revenues on operating leases relates to our wholly-owned and partially-owned subsidiaries and sub-lease rental revenues associated with the Leasing Group's operating lease obligations.

Schedule of Product Warranty Liability [Table Text Block]

The changes in the accruals for warranties for the three months ended March 31, 2021 and 2020 are as follows:

	Three Months Ended March 31,
	2021		2020
	(in millions)
Beginning balance	$	11.7	$	8.1
Warranty costs incurred	(0.5)		(0.9)
Warranty originations and revisions	(3.6)		0.6
Warranty expirations	(0.2)		(0.1)
Ending balance	$	7.4	$	7.7