Leases (Tables)

12 Months Ended

Dec. 31, 2016

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):

	2016			2015
Total contractual lease payments receivable	$	164.4		$	199.6
Estimated unguaranteed residual value of leased assets	59.0			58.7
Unearned income	(75.7		)	(90.7		)
Finance leases	$	147.7		$	167.6

Minimum Future Receipts

The following table shows our future contractual receipts from finance leases and noncancelable operating leases as of December 31, 2016 (in millions):

	Finance Leases		Operating Leases (1)		Total
2017	$	23.4	$	920.1	$	943.5
2018	21.1		768.6		789.7
2019	21.1		636.9		658.0
2020	20.6		504.4		525.0
2021	19.9		378.6		398.5
Years thereafter	58.3		715.9		774.2
	$	164.4	$	3,924.5	$	4,088.9

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):

	2016			2015
Railcars	$	18.9		$	17.8
Marine vessels	62.1			84.5
Less: allowance for depreciation	(61.6		)	(79.8		)
	$	19.4		$	22.5

Future minimum rental payments due under noncancelable operating leases

uture contractual rental payments due under noncancelable leases as of December 31, 2016 (in millions):

	Capital Leases			Operating Leases
2017	$	3.0		$	77.3
2018	1.4			74.5
2019	11.7			77.8
2020	—			72.4
2021	—			59.9
Years thereafter	—			237.4
	$	16.1		$	599.3
Less: amounts representing interest	(1.2		)
Present value of future contractual capital lease payments	$	14.9