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Financial Data of Business Segments (Tables)
6 Months Ended
Jun. 30, 2013
Segment Reporting [Abstract]  
Segment data
The following tables show the profitability, financial position, and investment volume of each of our business segments (in millions):



Rail North America
 

Rail International
 

ASC
 

Portfolio Management
 
Other
 
GATX Consolidated
Three Months Ended June 30, 2013
 
 
 
 
 
 
 
 
 
 
 
Profitability
 
 
 
 
 
 
 
 
 
 
 
Revenues
 
 
 
 
 
 
 
 
 
 
 
Lease revenue
$
187.3

 
$
43.6

 
$
1.0

 
$
7.1

 
$

 
$
239.0

Marine operating revenue

 

 
71.7

 
11.6

 

 
83.3

Other revenue
13.8

 
1.7

 

 
1.1

 

 
16.6

Total Revenues   
201.1

 
45.3

 
72.7

 
19.8

 

 
338.9

Expenses
 
 
 
 
 
 
 
 
 
 
 
Maintenance expense
57.6

 
9.6

 
7.1

 

 

 
74.3

Marine operating expense

 

 
48.2

 
9.5

 

 
57.7

Depreciation expense
42.7

 
10.6

 
4.0

 
5.8

 

 
63.1

Operating lease expense
32.0

 

 
1.7

 

 
(0.1
)
 
33.6

Other operating expense
5.0

 
1.4

 

 
0.6

 

 
7.0

Total Expenses
137.3

 
21.6

 
61.0

 
15.9

 
(0.1
)
 
235.7

Other Income (Expense)
 
 
 
 
 
 
 
 
 
 
 
Net gain on asset dispositions
10.2

 
1.3

 

 
8.1

 

 
19.6

Interest expense, net
(28.7
)
 
(5.2
)
 
(1.6
)
 
(6.7
)
 
(1.0
)
 
(43.2
)
Other (expense) income
(3.3
)
 

 

 

 
0.2

 
(3.1
)
Share of affiliates' earnings (pretax)
6.2

 
4.6

 

 
12.0

 

 
22.8

Segment Profit (Loss)   
$
48.2

 
$
24.4

 
$
10.1

 
$
17.3

 
$
(0.7
)
 
99.3

Selling, general and administrative expense
 
45.8

Income taxes ($9.3 million related to affiliates' earnings)
 
18.4

Net Income
 
$
35.1

Investment Volume
 
 
 
 
 
 
 
 
 
 
 
Portfolio investments and capital additions
$
129.4

 
$
46.9

 
$
7.8

 
$
135.2

 
$
1.4

 
$
320.7

Selected Balance Sheet Data at June 30, 2013
 
 
 
 
 
 
 
 
Investments in affiliated companies
$
33.5

 
$
83.8

 
$

 
$
307.0

 
$

 
$
424.3

Identifiable assets
$
3,710.2

 
$
1,151.1

 
$
298.6

 
$
828.0

 
$
131.3

 
$
6,119.2





Rail North America
 

Rail International
 

ASC
 

Portfolio Management
 
Other
 
GATX Consolidated
Three Months Ended June 30, 2012
 
 
 
 
 
 
 
 
 
 
 
Profitability
 
 
 
 
 
 
 
 
 
 
 
Revenues
 
 
 
 
 
 
 
 
 
 
 
Lease revenue
$
176.6

 
$
39.0

 
$
1.0

 
$
9.0

 
$

 
$
225.6

Marine operating revenue

 

 
76.2

 
6.9

 

 
83.1

Other revenue
12.1

 
1.6

 

 
0.7

 

 
14.4

Total Revenues   
188.7

 
40.6

 
77.2

 
16.6

 

 
323.1

Expenses
 
 
 
 
 
 
 
 
 
 
 
Maintenance expense
48.8

 
12.3

 
6.7

 

 

 
67.8

Marine operating expense

 

 
49.6

 
5.6

 

 
55.2

Depreciation expense
41.8

 
8.6

 
3.9

 
5.2

 

 
59.5

Operating lease expense
31.3

 

 
1.2

 
0.1

 
(0.1
)
 
32.5

Other operating expense
4.0

 
1.8

 
(0.1
)
 
0.6

 

 
6.3

Total Expenses
125.9

 
22.7

 
61.3

 
11.5

 
(0.1
)
 
221.3

Other Income (Expense)
 
 
 
 
 
 
 
 
 
 
 
Net gain on asset dispositions
14.5

 
1.2

 

 
2.6

 

 
18.3

Interest expense, net
(25.9
)
 
(6.5
)
 
(1.9
)
 
(6.5
)
 
(0.8
)
 
(41.6
)
Other (expense) income
(0.2
)
 
0.3

 

 
0.2

 
0.2

 
0.5

Share of affiliates' earnings (pretax)
2.0

 
(16.5
)
 

 
13.2

 

 
(1.3
)
Segment Profit (Loss)   
$
53.2

 
$
(3.6
)
 
$
14.0

 
$
14.6

 
$
(0.5
)
 
77.7

Selling, general and administrative expense
 
38.9

Income taxes ($2.1 million related to affiliates' earnings)
 
15.3

Net Income
 
$
23.5

Investment Volume
 
 
 
 
 
 
 
 
 
 
 
Portfolio investments and capital additions
$
137.7

 
$
39.2

 
$
5.5

 
$
53.4

 
$
2.3

 
$
238.1

Selected Balance Sheet Data at December 31, 2012
 
 
 
 
 
 
 
 
Investments in affiliated companies
$
46.9

 
$
77.2

 
$

 
$
377.9

 
$

 
$
502.0

Identifiable assets
$
3,601.1

 
$
1,105.8

 
$
284.2

 
$
797.4

 
$
266.9

 
$
6,055.4





Rail North America
 

Rail International
 

ASC
 

Portfolio Management
 
Other
 
GATX Consolidated
Six Months Ended June 30, 2013
 
 
 
 
 
 
 
 
 
 
 
Profitability
 
 
 
 
 
 
 
 
 
 
 
Revenues
 
 
 
 
 
 
 
 
 
 
 
Lease revenue
$
371.1

 
$
86.6

 
$
2.1

 
$
16.4

 
$

 
$
476.2

Marine operating revenue

 

 
84.0

 
17.8

 

 
101.8

Other revenue
27.6

 
3.9

 

 
1.7

 

 
33.2

Total Revenues   
398.7

 
90.5

 
86.1

 
35.9

 

 
611.2

Expenses
 
 
 
 
 
 
 
 
 
 
 
Maintenance expense
112.2

 
21.1

 
7.7

 

 

 
141.0

Marine operating expense

 

 
58.0

 
16.3

 

 
74.3

Depreciation expense
85.0

 
20.7

 
4.0

 
11.3

 

 
121.0

Operating lease expense
64.3

 

 
1.7

 

 
(0.1
)
 
65.9

Other operating expense
9.0

 
2.3

 

 
1.0

 

 
12.3

Total Expenses
270.5

 
44.1

 
71.4

 
28.6

 
(0.1
)
 
414.5

Other Income (Expense)
 
 
 
 
 
 
 
 
 
 
 
Net gain on asset dispositions
20.4

 
2.5

 

 
13.4

 

 
36.3

Interest expense, net
(54.4
)
 
(10.8
)
 
(3.2
)
 
(13.4
)
 
(2.3
)
 
(84.1
)
Other (expense) income
(4.1
)
 
0.5

 
(0.6
)
 

 

 
(4.2
)
Share of affiliates' earnings (pretax)
8.4

 
4.4

 

 
22.5

 

 
35.3

Segment Profit (Loss)   
$
98.5

 
$
43.0

 
$
10.9

 
$
29.8

 
$
(2.2
)
 
180.0

Selling, general and administrative expense
 
87.8

Income taxes ($13.4 million related to affiliates' earnings)
 
30.0

Net Income
 
$
62.2

Investment Volume
 
 
 
 
 
 
 
 
 
 
 
Portfolio investments and capital additions
$
215.1

 
$
91.2

 
$
11.0

 
$
151.2

 
$
2.1

 
$
470.6





Rail North America
 

Rail International
 

ASC
 

Portfolio Management
 
Other
 
GATX Consolidated
Six Months Ended June 30, 2012
 
 
 
 
 
 
 
 
 
 
 
Profitability
 
 
 
 
 
 
 
 
 
 
 
Revenues
 
 
 
 
 
 
 
 
 
 
 
Lease revenue
$
351.2

 
$
79.0

 
$
2.1

 
$
18.8

 
$

 
$
451.1

Marine operating revenue

 

 
86.9

 
13.7

 

 
100.6

Other revenue
23.9

 
2.5

 

 
1.5

 

 
27.9

Total Revenues   
375.1

 
81.5

 
89.0

 
34.0

 

 
579.6

Expenses
 
 
 
 
 
 
 
 
 
 
 
Maintenance expense
96.8

 
24.8

 
7.1

 

 

 
128.7

Marine operating expense

 

 
57.3

 
11.4

 

 
68.7

Depreciation expense
83.5

 
17.2

 
3.9

 
10.6

 

 
115.2

Operating lease expense
62.7

 

 
1.2

 
0.2

 
(0.2
)
 
63.9

Other operating expense
8.4

 
2.9

 
(0.3
)
 
(1.0
)
 

 
10.0

Total Expenses
251.4

 
44.9

 
69.2

 
21.2

 
(0.2
)
 
386.5

Other Income (Expense)
 
 
 
 
 
 
 
 
 
 
 
Net gain on asset dispositions
30.5

 
2.1

 

 
13.7

 

 
46.3

Interest expense, net
(51.7
)
 
(12.9
)
 
(3.7
)
 
(13.7
)
 
(2.2
)
 
(84.2
)
Other (expense) income
(2.1
)
 
(1.5
)
 

 
3.1

 
0.4

 
(0.1
)
Share of affiliates' earnings (pretax)
3.5

 
(20.0
)
 

 
20.7

 

 
4.2

Segment Profit (Loss)   
$
103.9

 
$
4.3

 
$
16.1

 
$
36.6

 
$
(1.6
)
 
159.3

Selling, general and administrative expense
 
77.0

Income taxes ($4.5 million related to affiliates' earnings)
 
28.5

Net Income
 
$
53.8

Investment Volume
 
 
 
 
 
 
 
 
 
 
 
Portfolio investments and capital additions
$
236.6

 
$
84.0

 
$
11.4

 
$
56.5

 
$
3.3

 
$
391.8