Schedule I - Condensed Financial Information of Registrant

12 Months Ended

Dec. 31, 2014

Condensed Financial Information of Parent Company Only Disclosure [Abstract]

Condensed Financial Information of Registrant

SCHEDULE I — CONDENSED FINANCIAL INFORMATION OF REGISTRANT

GATX CORPORATION

(Parent Company)

BALANCE SHEETS

(In millions)

	December 31
	2014		2013
Assets
Cash and cash equivalents	$	162.3	$	294.6
Operating assets and facilities, net	3,397.0		2,724.3
Investments in affiliated companies	2,199.5		2,197.9
Other assets	396.0		428.8
Total Assets	$	6,154.8	$	5,645.6
Liabilities and Shareholders’ Equity
Accounts payable and accrued expenses	$	54.9	$	79.6
Debt	3,821.1		3,249.2
Other liabilities	964.8		919.8
Total Liabilities	4,840.8		4,248.6
Total Shareholders’ Equity	1,314.0		1,397.0
Total Liabilities and Shareholders’ Equity	$	6,154.8	$	5,645.6

See accompanying note to condensed financial statements.

SCHEDULE I — CONDENSED FINANCIAL INFORMATION OF REGISTRANT (CONT’D)

GATX CORPORATION

(Parent Company)

STATEMENTS OF COMPREHENSIVE INCOME

(In millions)

	Year Ended December 31
	2014			2013			2012
Revenues
Lease revenue	$	669.7		$	543.0		$	504.5
Other revenue	60.2			51.3			43.5
Total Revenues	729.9			594.3			548.0
Expenses
Maintenance expense	227.6			176.5			154.8
Depreciation expense	147.7			131.1			122.2
Operating lease expense	83.0			89.5			91.6
Other operating expense	17.1			12.7			12.0
Selling, general and administrative expense	139.7			131.1			118.4
Total Expenses	615.1			540.9			499.0
Other Income (Expense)
Net gain on asset dispositions	67.9			68.6			59.4
Interest expense, net	(66.7		)	(63.7		)	(65.4		)
Other income (expense)	2.5			(7.0		)	(4.4		)
Income before Income Taxes and Share of Affiliates' Earnings	118.5			51.3			38.6
Income Taxes	(41.7		)	(10.7		)	1.0
Share of Affiliates' Earnings, Net of Taxes	128.2			128.7			97.7
Net Income	$	205.0		$	169.3		$	137.3
Other Comprehensive Income, Net of Taxes
Foreign currency translation adjustments	(79.1		)	25.8			25.0
Unrealized (loss) gain on securities	(0.1		)	0.8			0.2
Unrealized gain on derivative instruments	3.0			22.4			11.7
Post-retirement benefit plans	(29.5		)	52.9			(12.4		)
Other comprehensive (loss) income	(105.7		)	101.9			24.5
Comprehensive Income	$	99.3		$	271.2		$	161.8

See accompanying note to condensed financial statements.

SCHEDULE I — CONDENSED FINANCIAL INFORMATION OF REGISTRANT (CONT’D)

GATX CORPORATION

(Parent Company)

STATEMENTS OF CASH FLOWS

(In millions)

	Year Ended December 31
	2014			2013			2012
Operating Activities
Net cash provided by operating activities	$	219.5		$	104.3		$	269.6
Investing Activities
Capital additions	(748.1		)	(513.5		)	(444.6		)
Purchases of leased-in assets	(150.5		)	(61.4		)	(1.4		)
Proceeds from sale-leasebacks	—			90.7			104.9
Portfolio proceeds and other	169.5			320.7			136.6
Net cash used in investing activities	(729.1		)	(163.5		)	(204.5		)
Financing Activities
Repayments of debt (original maturities longer than 90 days)	(692.2		)	(483.8		)	(603.7		)
Net increase (decrease) in debt with original maturities of 90 days or less	69.0			(185.0		)	185.0
Proceeds from issuances of debt (original maturities longer than 90 days)	1,188.7			967.0			381.4
Stock repurchased	(124.6		)	(68.6		)	—
Dividends	(62.0		)	(60.5		)	(57.7		)
Other	(1.6		)	1.2			5.0
Net cash provided by (used in) financing activities	377.3			170.3			(90.0		)
Net (decrease) increase in cash and cash equivalents during the year	(132.3		)	111.1			(24.9		)
Cash and Cash Equivalents at beginning of year	294.6			183.5			208.4
Cash and Cash Equivalents at end of year	$	162.3		$	294.6		$	183.5

See accompanying note to condensed financial statements.

Note to Condensed Financial Statements

Basis of Presentation

The condensed financial statements represent the Balance Sheets, Statements of Comprehensive Income and Cash Flows of GATX Corporation, the parent company. In these parent-company-only financial statements, our investment in subsidiaries and joint ventures (collectively "affiliates") is stated at cost plus equity in undistributed earnings of affiliates since the date of acquisition. Our share of net income from affiliates is included in consolidated net income using the equity method. The parent-company-only financial statements should be read in conjunction with our consolidated financial statements.