XML 38 R4.htm IDEA: XBRL DOCUMENT v3.3.1.900
Consolidated Statements of Comprehensive Income - USD ($)
shares in Millions, $ in Millions
12 Months Ended
Dec. 31, 2015
Dec. 31, 2014
Dec. 31, 2013
Revenues      
Lease revenue $ 1,130.1 $ 1,086.6 $ 975.2
Marine operating revenue 235.0 286.3 275.1
Other revenue 84.8 78.1 70.7
Total Revenues 1,449.9 1,451.0 1,321.0
Expenses      
Maintenance expense 326.1 337.0 294.0
Marine operating expense 155.9 197.8 189.8
Depreciation 290.5 273.5 255.0
Operating lease expense 87.2 108.7 129.4
Other operating expense 38.4 28.9 26.1
Selling, general and administrative 192.4 189.2 178.3
Total Expenses 1,090.5 1,135.1 1,072.6
Other Income (Expense)      
Net gain on asset dispositions 79.2 87.2 85.6
Interest expense, net (155.1) (158.4) (166.6)
Other (expense) income (13.2) (13.5) (8.4)
Income before Income Taxes and Share of Affiliates’ Earnings 270.3 231.2 159.0
Income Taxes (110.9) (75.7) (65.5)
Share of Affiliates’ Earnings (net of tax) 45.9 49.5 75.8
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 gain (loss) on securities 0.6 0.1 (0.8)
Unrealized gain (loss) on derivative instruments 1.8 (3.0) (22.4)
Post-retirement benefit plans 7.8 (29.5) 52.9
Other comprehensive income (loss) (50.4) (105.7) 101.9
Comprehensive Income $ 154.9 $ 99.3 $ 271.2
Share Data      
Basic earnings per share (in dollars per share) $ 4.76 $ 4.55 [1] $ 3.64
Average number of common shares (in shares) 43.1 45.0 46.4
Diluted earnings per share (in dollars per share) $ 4.69 $ 4.48 [1] $ 3.59
Average number of common shares and common share equivalents (in shares) 43.8 45.8 47.1
Dividends declared per common share (in dollars per share) $ 1.52 $ 1.32 $ 1.24
[1] (1)Quarterly earnings per share may not be additive, as per share amounts are computed independently for each quarter and the full year is based on the respective weighted average common shares and common stock equivalents outstanding.(2)In the third quarter of 2015, net income included $31.1 million of net impairment losses and $4.5 million of net disposition gains, both related to the decision to exit the majority of the marine investments within the Portfolio Management segment.(3)In the fourth quarter of 2015, net income included $9.0 million of net disposition gains related to the decision to exit the majority of the marine investments within the Portfolio Management segment. In addition, we recorded $14.1 million of expense attributable to an increase in our effective state income tax rate, $7.7 million of benefit resulting from a reduction in the statutory income tax rate in the UK, and $5.6 million of net expenses associated with an early retirement program offered to certain employees.