Assets Held For Sale Assets Held For Sale (Notes)

3 Months Ended

Mar. 31, 2016

Asset Impairment [Abstract]

Disclosure of Long Lived Assets Held-for-sale [Table Text Block]

NOTE 5. Assets Held For Sale

During the third quarter of 2015, we made the decision to exit the majority of our marine investments within the Portfolio Management segment, including six chemical parcel tankers (the "Nordic Vessels"), most of the inland marine vessels, and our 50% interest in the Cardinal Marine joint venture. At that time, the Nordic Vessels and the inland marine vessels were classified as held for sale and adjusted to the lower of their respective carrying amounts or fair value less costs to dispose. Subsequently, certain of these marine investments were sold during the fourth quarter of 2015.

In the first quarter of 2016, we sold additional marine investments, including three of the Nordic Vessels and other inland marine vessels. Proceeds from sales completed in the first quarter of 2016 were $37.6 million, resulting in a gain of $2.4 million. As of March 31, 2016 and December 31, 2015, GATX had $70.6 million and $106.0 million of assets classified as held for sale on the balance sheet, including $69.6 million and $103.4 million of marine assets held in the Portfolio Management segment.