Leases (Tables)

12 Months Ended

Dec. 31, 2014

Leases [Abstract]

Components of GATX's finance leases

GATX as Lessor

The following table shows the components of our direct finance leases as of December 31 (in millions):

	2014			2013
Total contractual lease payments receivable	$	204.8		$	270.2
Estimated unguaranteed residual value of leased assets	68.5			79.8
Unearned income	(98.6		)	(142.7		)
Finance leases	$	174.7		$	207.3

Minimum Future Receipts

The following table shows our future contractual receipts from finance leases and noncancelable operating leases as of December 31, 2014 (in millions):

	Finance Leases		Operating Leases (1)		Total
2015	$	26.3	$	923.4	$	949.7
2016	25.2		740.3		765.5
2017	23.9		584.1		608.0
2018	22.2		464.7		486.9
2019	11.8		370.0		381.8
Years thereafter	95.4		770.4		865.8
	$	204.8	$	3,852.9	$	4,057.7

Assets that are financed with capital lease obligations

The following table shows assets we financed with capital lease obligations as of December 31 (in millions):

	2014			2013
Marine vessels	$	83.1		$	81.4
Less: allowance for depreciation	(75.3		)	(71.4		)
	$	7.8		$	10.0

Future minimum rental payments due under noncancelable operating leases

uture contractual rental payments due under noncancelable leases as of December 31, 2014 (in millions):

	Capital Leases			Recourse Operating Leases		Nonrecourse Operating Leases (1)
2015	$	3.1		$	86.3	$	11.0
2016	2.7			89.0		8.1
2017	1.1			94.2		9.5
2018	—			85.6		9.0
2019	—			81.5		9.7
Years thereafter	—			310.1		18.7
	$	6.9		$	746.7	$	66.0
Less: amounts representing interest	(0.6		)
Present value of future contractual capital lease payments	$	6.3

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(1) The amounts shown are primarily the rental payments of one wholly owned, bankruptcy-remote special purpose corporations. We consolidate these rentals for accounting purposes, but they are not our legal obligations.