Income Taxes	9 Months Ended
Sep. 30, 2014
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes Our effective tax rate was 33% for the nine months ended September 30, 2014, compared to 45% for the nine months ended September 30, 2013. The prior year effective tax rate reflected US and state income taxes of $23.2 million incurred upon the sale of our investment in AAE. Additionally, foreign tax credit carry forwards of $3.9 million were utilized as a result of this gain and recognized as a reduction of income tax expense. Excluding the effects of the AAE gain and tax benefits, GATX's effective tax rate for the first nine months of 2013 was 27%. The remaining difference in the effective rates for each period, compared to the statutory rate of 35%, is primarily attributable to the mix of pretax income in each year among domestic and foreign jurisdictions which are taxed at different rates. The current year reflects a higher contribution from domestic source income, which is taxed at a higher rate. As of September 30, 2014, our gross liability for unrecognized tax benefits was $5.3 million. If fully recognized, these tax benefits would decrease our income tax expense by $5.3 million ($3.4 million, net of federal tax). During the nine months ended September 30, 2014, upon the close of a foreign tax audit, we released a gross unrecognized tax benefit of $0.4 million. We do not anticipate the recognition of any tax benefits that were previously unrecognized within the next 12 months.

Income Taxes

9 Months Ended

Sep. 30, 2014

Our effective tax rate was 33% for the nine months ended September 30, 2014, compared to 45% for the nine months ended September 30, 2013. The prior year effective tax rate reflected US and state income taxes of $23.2 million incurred upon the sale of our investment in AAE. Additionally, foreign tax credit carry forwards of $3.9 million were utilized as a result of this gain and recognized as a reduction of income tax expense. Excluding the effects of the AAE gain and tax benefits, GATX's effective tax rate for the first nine months of 2013 was 27%. The remaining difference in the effective rates for each period, compared to the statutory rate of 35%, is primarily attributable to the mix of pretax income in each year among domestic and foreign jurisdictions which are taxed at different rates. The current year reflects a higher contribution from domestic source income, which is taxed at a higher rate.

As of September 30, 2014, our gross liability for unrecognized tax benefits was $5.3 million. If fully recognized, these tax benefits would decrease our income tax expense by $5.3 million ($3.4 million, net of federal tax). During the nine months ended September 30, 2014, upon the close of a foreign tax audit, we released a gross unrecognized tax benefit of $0.4 million. We do not anticipate the recognition of any tax benefits that were previously unrecognized within the next 12 months.