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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.