Leases (Tables)

12 Months Ended

Dec. 31, 2015

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):

	2015			2014
Total contractual lease payments receivable	$	199.6		$	204.8
Estimated unguaranteed residual value of leased assets	58.7			68.5
Unearned income	(90.7		)	(98.6		)
Finance leases	$	167.6		$	174.7

Minimum Future Receipts

The following table shows our future contractual receipts from finance leases and noncancelable operating leases as of December 31, 2015 (in millions):

	Finance Leases		Operating Leases (1)		Total
2016	$	28.3	$	970.3	$	998.6
2017	25.9		815.1		841.0
2018	23.9		684.3		708.2
2019	22.6		568.1		590.7
2020	21.1		442.6		463.7
Years thereafter	77.8		912.2		990.0
	$	199.6	$	4,392.6	$	4,592.2

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):

	2015			2014
Railcars	$	17.8		$	—
Marine vessels	84.5			83.1
Less: allowance for depreciation	(79.8		)	(75.3		)
	$	22.5		$	7.8

Future minimum rental payments due under noncancelable operating leases

uture contractual rental payments due under noncancelable leases as of December 31, 2015 (in millions):

	Capital Leases			Recourse Operating Leases
2016	$	4.3		$	85.1
2017	2.8			91.7
2018	1.6			83.0
2019	11.5			79.8
2020	—			72.7
Years thereafter	—			244.0
	$	20.2		$	656.3
Less: amounts representing interest	(1.8		)
Present value of future contractual capital lease payments	$	18.4