Railcar Leasing and Management Services Group (Tables)

6 Months Ended

Jun. 30, 2011

Railcar Leasing and Management Services Group (Tables) [Abstract]

Consolidating financial information

	June 30, 2011
	Leasing Group
	Wholly-
	Owned Subsidiaries			TRIP Holdings			Manufacturing/ Corporate			Total
				(in millions, unaudited)
Cash, cash equivalents, and short-term marketable securities	$	2.6		$	—		$	296.5		$	299.1
Property, plant, and equipment, net	$	3,078.9		$	1,166.6		$	482.2		$	4,727.7
Net deferred profit on railcars sold to the Leasing Group		(348.9	)		(192.4	)		—			(541.3	)
	$	2,730.0		$	974.2		$	482.2		$	4,186.4
Restricted cash	$	160.6		$	44.7		$	—		$	205.3
Debt:
Recourse	$	106.0		$	—		$	454.9		$	560.9
Less: unamortized discount		—			—			(105.6	)		(105.6	)
		106.0			—			349.3			455.3
Non-recourse		1,468.0			963.3			—			2,431.3
Total debt	$	1,574.0		$	963.3		$	349.3		$	2,886.6

	December 31, 2010
	Leasing Group
	Wholly-
	Owned Subsidiaries			TRIP Holdings			Manufacturing/ Corporate			Total
				(in millions)
Cash, cash equivalents, and short-term marketable securities	$	3.8		$	—		$	508.2		$	512.0
Property, plant, and equipment, net	$	2,965.4		$	1,191.8		$	491.4		$	4,648.6
Net deferred profit on railcars sold to the Leasing Group		(340.4	)		(196.2	)		—			(536.6	)
	$	2,625.0		$	995.6		$	491.4		$	4,112.0
Restricted cash	$	161.1		$	46.0		$	—		$	207.1
Debt:
Recourse	$	108.6		$	—		$	452.8		$	561.4
Less: unamortized discount		—			—			(111.1	)		(111.1	)
		108.6			—			341.7			450.3
Non-recourse		1,453.5			1,003.9			—			2,457.4
Total debt	$	1,562.1		$	1,003.9		$	341.7		$	2,907.7

Investment in TRIP Holdings and TRIP Holdings' debt

	Three Months Ended June 30,									Six Months Ended June 30,
	2011			2010			Percent			2011			2010			Percent
	($ in millions)						Change			($ in millions)						Change
Revenues:
Wholly owned subsidiaries:
Leasing and management	$	92.9		$	86.0			8.0	%	$	183.2		$	170.1			7.7	%
Sales of cars from the lease fleet		8.8			3.7			137.8			10.7			11.6			(7.8	)
		101.7			89.7			13.4			193.9			181.7			6.7
TRIP Holdings:
Leasing and management		28.7			29.2			(1.7	)		58.2			58.2			—
Sales of cars from the lease fleet		—			0.7			*			8.1			0.9			*
		28.7			29.9			(4.0	)		66.3			59.1			12.2
Total revenues	$	130.4		$	119.6			9.0		$	260.2		$	240.8			8.1
Operating Profit:
Wholly owned subsidiaries:
Leasing and management	$	39.5		$	31.4					$	76.0		$	60.6
Sales of cars from the lease fleet		3.4			0.3						4.4			2.2
		42.9			31.7						80.4			62.8
TRIP Holdings:
Leasing and management		16.8			17.5						33.9			34.6
Sales of cars from the lease fleet		—			—						0.1			—
		16.8			17.5						34.0			34.6
Total operating profit	$	59.7		$	49.2					$	114.4		$	97.4
Operating profit margin:
Leasing and management		46.3	%		42.4	%					45.5	%		41.7	%
Sales of cars from the lease fleet		38.6			6.8						23.9			17.6
Total operating profit margin		45.8			41.1						44.0			40.4

Future contractual minimum rental revenues on leases

	Remaining six months
	of 2011		2012		2013		2014		2015		Thereafter		Total
							(in millions)
Wholly-owned subsidiaries	$	126.3	$	215.0	$	168.3	$	121.3	$	90.5	$	197.6	$	919.0
TRIP Holdings		51.9		86.3		55.5		35.6		29.7		70.8		329.8
	$	178.2	$	301.3	$	223.8	$	156.9	$	120.2	$	268.4	$	1,248.8

Future operating lease obligations and future contractual minimum rental revenues related to these leases

	Remaining six
	months of 2011		2012		2013		2014		2015		Thereafter		Total
					(in millions)
Future operating lease obligations of Trusts’ railcars	$	21.2	$	44.5	$	45.7	$	44.9	$	43.2	$	382.0	$	581.5
Future contractual minimum rental revenues of Trusts’ railcars	$	29.0	$	47.3	$	32.2	$	18.6	$	13.8	$	28.5	$	169.4

Future contractual minimum rental revenues related to operating leases other than leases with the Trusts

	Remaining six
	months of 2011		2012		2013		2014		2015		Thereafter		Total
					(in millions)
Future operating lease obligations	$	2.7	$	4.8	$	4.5	$	4.4	$	4.4	$	13.9	$	34.7
Future contractual minimum rental revenues	$	2.4	$	4.3	$	3.9	$	3.4	$	2.7	$	7.0	$	23.7