Income Taxes	9 Months Ended
Sep. 30, 2013
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes Our effective tax rate was 45% for the nine months ended September 30, 2013 compared to 20% for the nine months ended September 30, 2012. The current year effective tax rate reflects U.S. and state income taxes of $23.2 million incurred by GATX on the tax gain recognized on the sale of our investment in AAE. Additionally, foreign tax credit carry forwards of $3.9 million were recognized as a result of this gain. In the prior year, GATX’s liability for unrecognized tax benefits was reduced by $15.5 million in connection with the close of a federal tax audit. Excluding the effects of the AAE gain and other tax benefits from each year as applicable, GATX’s effective tax rate for the first nine months of 2013 and 2012 was 27% and 34%, respectively. The remaining difference in the effective tax rates for each year is primarily attributable to the mix of pre-tax income among domestic and foreign jurisdictions which are taxed at different rates. As of September 30, 2013, our gross liability for unrecognized tax benefits was $4.7 million. If fully recognized, these tax benefits would decrease our income tax expense by $4.7 million ($3.2 million, net of federal tax). Subject to the completion of certain audits or the expiration of the applicable statute of limitations, we believe it is reasonably possible that we will recognize $0.4 million in unrecognized tax benefits within the next 12 months.

Income Taxes

9 Months Ended

Sep. 30, 2013

Our effective tax rate was 45% for the nine months ended September 30, 2013 compared to 20% for the nine months ended September 30, 2012. The current year effective tax rate reflects U.S. and state income taxes of $23.2 million incurred by GATX on the tax gain recognized on the sale of our investment in AAE. Additionally, foreign tax credit carry forwards of $3.9 million were recognized as a result of this gain. In the prior year, GATX’s liability for unrecognized tax benefits was reduced by $15.5 million in connection with the close of a federal tax audit. Excluding the effects of the AAE gain and other tax benefits from each year as applicable, GATX’s effective tax rate for the first nine months of 2013 and 2012 was 27% and 34%, respectively. The remaining difference in the effective tax rates for each year is primarily attributable to the mix of pre-tax income among domestic and foreign jurisdictions which are taxed at different rates.

As of September 30, 2013, our gross liability for unrecognized tax benefits was $4.7 million. If fully recognized, these tax benefits would decrease our income tax expense by $4.7 million ($3.2 million, net of federal tax). Subject to the completion of certain audits or the expiration of the applicable statute of limitations, we believe it is reasonably possible that we will recognize $0.4 million in unrecognized tax benefits within the next 12 months.