XML 66 R32.htm IDEA: XBRL DOCUMENT v3.3.1.900
Schedule I - Condensed Financial Information of Registrant
 12 Months Ended
Dec. 31, 2015
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
 
2015
 
2014
Assets
 
 
 
Cash and cash equivalents
$
147.6

 
$
162.3

Operating assets and facilities, net
3,373.6

 
3,397.0

Investments in affiliated companies
2,255.3

 
2,199.5

Other assets
709.4

 
396.0

Total Assets   
$
6,485.9

 
$
6,154.8

 
 
 
 
Liabilities and Shareholders’ Equity
 
 
 
Accounts payable and accrued expenses
$
72.0

 
$
54.9

Debt
4,107.7

 
3,821.1

Other liabilities
1,026.0

 
964.8

Total Liabilities   
5,205.7

 
4,840.8

Total Shareholders’ Equity   
1,280.2

 
1,314.0

Total Liabilities and Shareholders’ Equity   
$
6,485.9

 
$
6,154.8


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
 
2015
 
2014
 
2013
Revenues
 
 
 
 
 
Lease revenue
$
718.3

 
$
669.7

 
$
543.0

Other revenue
66.7

 
60.2

 
51.3

Total Revenues
785.0

 
729.9

 
594.3

Expenses
 
 
 
 
 
Maintenance expense
233.6

 
227.6

 
176.5

Depreciation expense
164.8

 
147.7

 
131.1

Operating lease expense
61.7

 
83.0

 
89.5

Other operating expense
25.4

 
17.1

 
12.7

Selling, general and administrative expense
149.2

 
139.7

 
131.1

Total Expenses
634.7

 
615.1

 
540.9

Other Income (Expense)
 
 
 
 
 
Net gain on asset dispositions
48.0

 
67.9

 
68.6

Interest expense, net
(68.7
)
 
(66.7
)
 
(63.7
)
Other income (expense)
—

 
2.5

 
(7.0
)
Income before Income Taxes and Share of Affiliates' Earnings
129.6

 
118.5

 
51.3

Income Taxes
(62.4
)
 
(41.7
)
 
(10.7
)
Share of Affiliates' Earnings, Net of Taxes
138.1

 
128.2

 
128.7

Net Income   
$
205.3

 
$
205.0

 
$
169.3

Other Comprehensive Income, Net of Taxes
 
 
 
 
 
Foreign currency translation adjustments
(55.8
)
 
(79.1
)
 
25.8

Unrealized (loss) gain on securities
(0.6
)
 
(0.1
)
 
0.8

Unrealized (loss) gain on derivative instruments
(1.8
)
 
3.0

 
22.4

Post-retirement benefit plans
7.8

 
(29.5
)
 
52.9

Other comprehensive (loss) income
(50.4
)
 
(105.7
)
 
101.9

Comprehensive Income   
$
154.9

 
$
99.3

 
$
271.2



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
 
2015
 
2014
 
2013
Operating Activities
 
 
 
 
 
Net cash provided by operating activities
$
412.5

 
$
219.5

 
$
104.3

Investing Activities
 
 
 
 
 
Capital additions
(602.9
)
 
(748.1
)
 
(513.5
)
Purchases of leased-in assets
(118.4
)
 
(150.5
)
 
(61.4
)
Proceeds from sale-leasebacks
—

 
—

 
90.7

Portfolio proceeds and other
208.7

 
169.5

 
320.7

Net cash used in investing activities
(512.6
)
 
(729.1
)
 
(163.5
)
Financing Activities
 
 
 
 
 
Repayments of debt (original maturities longer than 90 days)
(350.0
)
 
(692.2
)
 
(483.8
)
Net increase (decrease) in debt with original maturities of 90 days or less
(69.0
)
 
69.0

 
(185.0
)
Proceeds from issuances of debt (original maturities longer than 90 days)
695.7

 
1,188.7

 
967.0

Stock repurchased
(125.4
)
 
(124.6
)
 
(68.6
)
Dividends
(68.2
)
 
(62.0
)
 
(60.5
)
Other
2.3

 
(1.6
)
 
1.2

Net cash provided by financing activities
85.4

 
377.3

 
170.3

Net (decrease) increase in cash and cash equivalents during the year
(14.7
)
 
(132.3
)
 
111.1

Cash and Cash Equivalents at beginning of year
162.3

 
294.6

 
183.5

Cash and Cash Equivalents at end of year
$
147.6

 
$
162.3

 
$
294.6



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.