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Financial Data of Business Segments (Tables)
6 Months Ended
Jun. 30, 2017
Segment Reporting [Abstract]  
Segment data
The following tables show certain segment data for each of our business segments (in millions):




Rail North America
 

Rail International
 

ASC
 

Portfolio Management
 
Other
 
GATX Consolidated
Three Months Ended June 30, 2017
 
 
 
 
 
 
 
 
 
 
Profitability
 
 
 
 
 
 
 
 
 
 
 
Revenues
 
 
 
 
 
 
 
 
 
 
 
Lease revenue
$
225.7

 
$
46.2

 
$
1.0

 
$
1.2

 
$

 
$
274.1

Marine operating revenue

 

 
47.7

 
7.4

 

 
55.1

Other revenue
17.3

 
1.6

 

 
0.3

 

 
19.2

Total Revenues   
243.0

 
47.8

 
48.7

 
8.9

 

 
348.4

Expenses
 
 
 
 
 
 
 
 
 
 
 
Maintenance expense
68.5

 
9.7

 
6.7

 

 

 
84.9

Marine operating expense

 

 
30.6

 
7.4

 

 
38.0

Depreciation expense
59.7

 
11.8

 
4.0

 
1.8

 

 
77.3

Operating lease expense
14.8

 

 
0.4

 

 

 
15.2

Other operating expense
6.3

 
1.2

 

 
0.3

 

 
7.8

Total Expenses
149.3

 
22.7

 
41.7

 
9.5

 

 
223.2

Other Income (Expense)
 
 
 
 
 
 
 
 
 
 
 
Net gain on asset dispositions
10.7

 
0.8

 

 
10.5

 

 
22.0

Interest (expense) income, net
(28.5
)
 
(8.1
)
 
(1.3
)
 
(2.4
)
 
0.3

 
(40.0
)
Other (expense) income
(1.2
)
 
(1.1
)
 
0.8

 

 
0.4

 
(1.1
)
Share of affiliates' pretax income (loss)
0.2

 
(0.1
)
 

 
12.3

 

 
12.4

Segment profit
$
74.9

 
$
16.6

 
$
6.5

 
$
19.8

 
$
0.7

 
118.5

Selling, general and administrative expense
43.1

Income taxes (includes $2.7 related to affiliates' earnings)
22.0

Net income
$
53.4

 
 
 
 
 
 
 
 
 
 
 
 
Net Gain on Asset Dispositions
 
 
 
 
 
 
 
 
 
 
 
Asset Remarketing Income:
 
 
 
 
 
 
 
 
 
 
 
Disposition gains on owned assets
$
10.9

 
$

 
$

 
$
1.8

 
$

 
$
12.7

Residual sharing income
0.2

 

 

 
8.7

 

 
8.9

Non-remarketing disposition gains (1)
1.5

 
0.8

 

 

 

 
2.3

Asset impairments
(1.9
)
 

 

 

 

 
(1.9
)
 
$
10.7

 
$
0.8

 
$

 
$
10.5

 
$

 
$
22.0

 
 
 
 
 
 
 
 
 
 
 
 
Capital Expenditures
 
 
 
 
 
 
 
 
 
 
 
Portfolio investments and capital additions
$
127.6

 
$
33.1

 
$
5.5

 
$

 
$
0.1

 
$
166.3

 
 
 
 
 
 
 
 
 
 
 
 
Selected Balance Sheet Data at June 30, 2017
 
 
 
 
 
 
 
 
 
 
Investments in affiliated companies
$
10.5

 
$
1.2

 
$

 
$
396.1

 
$

 
$
407.8

Identifiable assets
$
4,834.4

 
$
1,246.3

 
$
321.6

 
$
595.5

 
$
274.3

 
$
7,272.1

__________
(1) Includes scrapping gains.



Rail North America
 

Rail International
 

ASC
 

Portfolio Management
 
Other
 
GATX Consolidated
Three Months Ended June 30, 2016
 
 
 
 
 
 
 
 
 
 
Profitability
 
 
 
 
 
 
 
 
 
 
 
Revenues
 
 
 
 
 
 
 
 
 
 
 
Lease revenue
$
233.4

 
$
45.3

 
$
1.1

 
$
1.4

 
$

 
$
281.2

Marine operating revenue

 

 
46.4

 
10.9

 

 
57.3

Other revenue
18.4

 
1.6

 

 
0.4

 

 
20.4

Total Revenues   
251.8

 
46.9

 
47.5

 
12.7

 

 
358.9

Expenses
 
 
 
 
 
 
 
 
 
 
 
Maintenance expense
67.6

 
12.9

 
6.0

 

 

 
86.5

Marine operating expense

 

 
29.6

 
7.8

 

 
37.4

Depreciation expense
58.1

 
11.5

 
4.4

 
1.8

 

 
75.8

Operating lease expense
16.6

 

 
2.0

 

 
(0.1
)
 
18.5

Other operating expense
9.5

 
1.2

 

 
4.1

 

 
14.8

Total Expenses
151.8

 
25.6

 
42.0

 
13.7

 
(0.1
)
 
233.0

Other Income (Expense)
 
 
 
 
 
 
 
 
 
 
 
Net gain on asset dispositions
4.7

 
0.3

 

 
31.9

 

 
36.9

Interest (expense) income, net
(26.9
)
 
(7.3
)
 
(1.1
)
 
(2.1
)
 
0.9

 
(36.5
)
Other expense
(1.1
)
 
(1.3
)
 
(0.2
)
 

 
(1.3
)
 
(3.9
)
Share of affiliates' pretax income
0.1

 

 

 
7.7

 

 
7.8

Segment profit (loss)
$
76.8

 
$
13.0

 
$
4.2

 
$
36.5

 
$
(0.3
)
 
130.2

Selling, general and administrative expense
40.9

Income taxes (includes $1.4 related to affiliates' earnings)
28.1

Net income
$
61.2

 
 
 
 
 
 
 
 
 
 
 
 
Net Gain on Asset Dispositions
 
 
 
 
 
 
 
 
 
 
 
Asset Remarketing Income:
 
 
 
 
 
 
 
 
 
 
 
Disposition gains on owned assets
$
3.0

 
$

 
$

 
$
2.1

 
$

 
$
5.1

Residual sharing income
0.1

 

 

 
31.6

 

 
31.7

Non-remarketing disposition gains (1)
1.6

 
0.3

 

 

 

 
1.9

Asset impairments

 

 

 
(1.8
)
 

 
(1.8
)
 
$
4.7

 
$
0.3

 
$

 
$
31.9

 
$

 
$
36.9

 
 
 
 
 
 
 
 
 
 
 
 
Capital Expenditures
 
 
 
 
 
 
 
 
 
 
 
Portfolio investments and capital additions
$
145.4

 
$
30.4

 
$
4.4

 
$

 
$
1.8

 
$
182.0

 
 
 
 
 
 
 
 
 
 
 
 
Selected Balance Sheet Data at December 31, 2016
 
 
 
 
 
 
 
Investments in affiliated companies
$
10.5

 
$
1.2

 
$

 
$
375.3

 
$

 
$
387.0

Identifiable assets
$
4,775.6

 
$
1,128.7

 
$
278.8

 
$
593.5

 
$
328.8

 
$
7,105.4

__________
(1) Includes scrapping gains.



Rail North America
 

Rail International
 

ASC
 

Portfolio Management
 
Other
 
GATX Consolidated
Six Months Ended June 30, 2017
 
 
 
 
 
 
 
 
 
 
 
Profitability
 
 
 
 
 
 
 
 
 
 
 
Revenues
 
 
 
 
 
 
 
 
 
 
 
Lease revenue
$
452.9

 
$
89.5

 
$
2.0

 
$
2.4

 
$

 
$
546.8

Marine operating revenue

 

 
54.1

 
18.0

 

 
72.1

Other revenue
42.1

 
2.7

 

 
0.8

 

 
45.6

Total Revenues   
495.0

 
92.2

 
56.1

 
21.2

 

 
664.5

Expenses
 
 
 
 
 
 
 
 
 
 
 
Maintenance expense
136.2

 
19.7

 
6.9

 

 

 
162.8

Marine operating expense

 

 
35.9

 
15.0

 

 
50.9

Depreciation expense
118.7

 
23.0

 
4.1

 
3.5

 

 
149.3

Operating lease expense
29.8

 

 
1.2

 

 

 
31.0

Other operating expense
14.4

 
2.4

 

 
0.6

 

 
17.4

Total Expenses
299.1

 
45.1

 
48.1

 
19.1

 

 
411.4

Other Income (Expense)
 
 
 
 
 
 
 
 
 
 
 
Net gain on asset dispositions
34.5

 
1.6

 

 
10.8

 

 
46.9

Interest (expense) income, net
(59.6
)
 
(16.0
)
 
(2.5
)
 
(4.6
)
 
3.5

 
(79.2
)
Other (expense) income
(3.2
)
 
(2.6
)
 
0.8

 
2.3

 
0.3

 
(2.4
)
Share of affiliates' pretax income (loss)
0.3

 
(0.1
)
 

 
23.9

 

 
24.1

Segment profit
$
167.9

 
$
30.0

 
$
6.3

 
$
34.5

 
$
3.8

 
242.5

Selling, general and administrative expense
86.0

Income taxes (includes $5.7 related to affiliates' earnings)
45.6

Net income
$
110.9

 
 
 
 
 
 
 
 
 
 
 
 
Net Gain on Asset Dispositions
 
 
 
 
 
 
 
 
 
 
 
Asset Remarketing Income:
 
 
 
 
 
 
 
 
 
 
 
Disposition gains on owned assets
$
32.0

 
$

 
$

 
$
1.8

 
$

 
$
33.8

Residual sharing income
0.3

 

 

 
9.0

 

 
9.3

Non-remarketing disposition gains (1)
4.1

 
1.6

 

 

 

 
5.7

Asset impairments
(1.9
)
 

 

 

 

 
(1.9
)
 
$
34.5

 
$
1.6

 
$

 
$
10.8

 
$

 
$
46.9

 
 
 
 
 
 
 
 
 
 
 
 
Capital Expenditures
 
 
 
 
 
 
 
 
 
 
 
Portfolio investments and capital additions
$
230.4

 
$
51.8

 
$
12.8

 
$

 
$
0.3

 
$
295.3

__________
(1) Includes scrapping gains.





Rail North America
 

Rail International
 

ASC
 

Portfolio Management
 
Other
 
GATX Consolidated
Six Months Ended June 30, 2016
 
 
 
 
 
 
 
 
 
 
 
Profitability
 
 
 
 
 
 
 
 
 
 
 
Revenues
 
 
 
 
 
 
 
 
 
 
 
Lease revenue
$
470.0

 
$
90.2

 
$
2.1

 
$
3.4

 
$

 
$
565.7

Marine operating revenue

 

 
50.5

 
27.1

 

 
77.6

Other revenue
46.2

 
3.2

 

 
0.6

 

 
50.0

Total Revenues   
516.2

 
93.4

 
52.6

 
31.1

 

 
693.3

Expenses
 
 
 
 
 
 
 
 
 
 
 
Maintenance expense
133.4

 
25.4

 
6.2

 

 

 
165.0

Marine operating expense

 

 
32.5

 
17.2

 

 
49.7

Depreciation expense
114.6

 
22.6

 
4.4

 
3.5

 

 
145.1

Operating lease expense
33.4

 

 
2.0

 

 
(0.1
)
 
35.3

Other operating expense
16.4

 
2.6

 

 
4.6

 

 
23.6

Total Expenses
297.8

 
50.6

 
45.1

 
25.3

 
(0.1
)
 
418.7

Other Income (Expense)
 
 
 
 
 
 
 
 
 
 
 
Net gain on asset dispositions
23.3

 
1.0

 

 
35.8

 

 
60.1

Interest (expense) income, net
(54.1
)
 
(14.6
)
 
(2.2
)
 
(4.3
)
 
1.5

 
(73.7
)
Other expense
(2.4
)
 
(3.5
)
 
(0.2
)
 

 
(1.1
)
 
(7.2
)
Share of affiliates' pretax income (loss)
0.3

 
(0.1
)
 

 
17.8

 

 
18.0

Segment profit
$
185.5

 
$
25.6

 
$
5.1

 
$
55.1

 
$
0.5

 
271.8

Selling, general and administrative expense
79.7

Income taxes (includes $4.1 related to affiliates' earnings)
61.6

Net income
$
130.5

 
 
 
 
 
 
 
 
 
 
 
 
Net Gain on Asset Dispositions
 
 
 
 
 
 
 
 
 
 
 
Asset Remarketing Income:
 
 
 
 
 
 
 
 
 
 
 
Disposition gains on owned assets
$
20.6

 
$

 
$

 
$
4.5

 
$

 
$
25.1

Residual sharing income
0.4

 

 

 
33.1

 

 
33.5

Non-remarketing disposition gains (1)
2.3

 
1.0

 

 

 

 
3.3

Asset impairments

 

 

 
(1.8
)
 

 
(1.8
)
 
$
23.3

 
$
1.0

 
$

 
$
35.8

 
$

 
$
60.1

 
 
 
 
 
 
 
 
 
 
 
 
Capital Expenditures
 
 
 
 
 
 
 
 
 
 
 
Portfolio investments and capital additions
$
258.3

 
$
52.4

 
$
9.1

 
$

 
$
2.4

 
$
322.2

__________
(1) Includes scrapping gains.