XML 37 R22.htm IDEA: XBRL DOCUMENT v3.8.0.1
Financial Data of Business Segments (Tables)
9 Months Ended
Sep. 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 September 30, 2017
 
 
 
 
 
 
 
 
 
 
Profitability
 
 
 
 
 
 
 
 
 
 
 
Revenues
 
 
 
 
 
 
 
 
 
 
 
Lease revenue
$
224.5

 
$
50.3

 
$
1.1

 
$
0.7

 
$
—

 
$
276.6

Marine operating revenue
—

 
—

 
59.1

 
3.8

 
—

 
62.9

Other revenue
17.9

 
2.0

 
—

 
0.2

 
—

 
20.1

Total Revenues   
242.4

 
52.3

 
60.2

 
4.7

 
—

 
359.6

Expenses
 
 
 
 
 
 
 
 
 
 
 
Maintenance expense
66.1

 
11.1

 
7.7

 
—

 
—

 
84.9

Marine operating expense
—

 
—

 
34.7

 
4.2

 
—

 
38.9

Depreciation expense
60.1

 
12.8

 
4.0

 
1.7

 
—

 
78.6

Operating lease expense
15.5

 
—

 
0.3

 
—

 
—

 
15.8

Other operating expense
7.3

 
1.1

 
—

 
0.1

 
—

 
8.5

Total Expenses
149.0

 
25.0

 
46.7

 
6.0

 
—

 
226.7

Other Income (Expense)
 
 
 
 
 
 
 
 
 
 
 
Net gain on asset dispositions
8.1

 
1.0

 
—

 
0.3

 
—

 
9.4

Interest (expense) income, net
(30.5
)
 
(8.5
)
 
(1.4
)
 
(2.2
)
 
2.4

 
(40.2
)
Other (expense) income
(0.9
)
 
0.3

 
—

 
—

 
(1.5
)
 
(2.1
)
Share of affiliates' pre-tax income
0.1

 
—

 
—

 
16.0

 
—

 
16.1

Segment profit
$
70.2

 
$
20.1

 
$
12.1

 
$
12.8

 
$
0.9

 
116.1

Selling, general and administrative expense
42.8

Income taxes (includes $3.9 related to affiliates' earnings)
24.3

Net income
$
49.0

 
 
 
 
 
 
 
 
 
 
 
 
Net Gain on Asset Dispositions
 
 
 
 
 
 
 
 
 
 
 
Asset Remarketing Income:
 
 
 
 
 
 
 
 
 
 
 
Disposition gains on owned assets
$
7.5

 
$
0.1

 
$
—

 
$
—

 
$
—

 
$
7.6

Residual sharing income
0.2

 
—

 
—

 
0.3

 
—

 
0.5

Non-remarketing disposition gains (1)
0.4

 
0.9

 
—

 
—

 
—

 
1.3

 
$
8.1

 
$
1.0

 
$
—

 
$
0.3

 
$
—

 
$
9.4

 
 
 
 
 
 
 
 
 
 
 
 
Capital Expenditures
 
 
 
 
 
 
 
 
 
 
 
Portfolio investments and capital additions
$
103.3

 
$
22.9

 
$
0.8

 
$
36.6

 
$
0.1

 
$
163.7

 
 
 
 
 
 
 
 
 
 
 
 
Selected Balance Sheet Data at September 30, 2017
 
 
 
 
 
 
 
 
 
 
Investments in affiliated companies
$
9.8

 
$
—

 
$
—

 
$
439.5

 
$
—

 
$
449.3

Identifiable assets
$
4,841.2

 
$
1,290.0

 
$
310.1

 
$
616.8

 
$
203.8

 
$
7,261.9

__________
(1) Includes scrapping gains.



Rail North America
 

Rail International
 

ASC
 

Portfolio Management
 
Other
 
GATX Consolidated
Three Months Ended September 30, 2016
 
 
 
 
 
 
 
 
 
 
Profitability
 
 
 
 
 
 
 
 
 
 
 
Revenues
 
 
 
 
 
 
 
 
 
 
 
Lease revenue
$
233.0

 
$
46.6

 
$
1.0

 
$
1.2

 
$
—

 
$
281.8

Marine operating revenue
—

 
—

 
51.8

 
10.3

 
—

 
62.1

Other revenue
17.3

 
1.6

 
—

 
0.1

 
—

 
19.0

Total Revenues   
250.3

 
48.2

 
52.8

 
11.6

 
—

 
362.9

Expenses
 
 
 
 
 
 
 
 
 
 
 
Maintenance expense
62.8

 
10.7

 
6.1

 
—

 
—

 
79.6

Marine operating expense
—

 
—

 
31.5

 
7.7

 
—

 
39.2

Depreciation expense
58.4

 
11.6

 
4.2

 
1.7

 
—

 
75.9

Operating lease expense
17.2

 
—

 
2.0

 
—

 
—

 
19.2

Other operating expense
8.6

 
1.2

 
—

 
0.3

 
—

 
10.1

Total Expenses
147.0

 
23.5

 
43.8

 
9.7

 
—

 
224.0

Other Income (Expense)
 
 
 
 
 
 
 
 
 
 
 
Net gain on asset dispositions
13.1

 
0.5

 
—

 
49.1

 
—

 
62.7

Interest (expense) income, net
(27.1
)
 
(7.3
)
 
(1.1
)
 
(2.1
)
 
1.4

 
(36.2
)
Other (expense) income
(1.4
)
 
5.5

 
(0.1
)
 
—

 
0.3

 
4.3

Share of affiliates' pre-tax (loss) income
—

 
(0.1
)
 
—

 
15.2

 
—

 
15.1

Segment profit
$
87.9

 
$
23.3

 
$
7.8

 
$
64.1

 
$
1.7

 
184.8

Selling, general and administrative expense
48.1

Income taxes (includes $0.1 tax benefit related to affiliates' earnings)
41.0

Net income
$
95.7

 
 
 
 
 
 
 
 
 
 
 
 
Net Gain on Asset Dispositions
 
 
 
 
 
 
 
 
 
 
 
Asset Remarketing Income:
 
 
 
 
 
 
 
 
 
 
 
Disposition gains on owned assets
$
11.9

 
$
—

 
$
—

 
$
(0.3
)
 
$
—

 
$
11.6

Residual sharing income
0.3

 
—

 
—

 
49.4

 
—

 
49.7

Non-remarketing disposition gains (1)
0.9

 
0.5

 
—

 
—

 
—

 
1.4

 
$
13.1

 
$
0.5

 
$
—

 
$
49.1

 
$
—

 
$
62.7

 
 
 
 
 
 
 
 
 
 
 
 
Capital Expenditures
 
 
 
 
 
 
 
 
 
 
 
Portfolio investments and capital additions
$
108.4

 
$
10.8

 
$
—

 
$
—

 
$
1.2

 
$
120.4

 
 
 
 
 
 
 
 
 
 
 
 
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
Nine Months Ended September 30, 2017
 
 
 
 
 
 
 
 
 
 
Profitability
 
 
 
 
 
 
 
 
 
 
 
Revenues
 
 
 
 
 
 
 
 
 
 
 
Lease revenue
$
677.4

 
$
139.8

 
$
3.1

 
$
3.1

 
$
—

 
$
823.4

Marine operating revenue
—

 
—

 
113.2

 
21.8

 
—

 
135.0

Other revenue
60.0

 
4.7

 
—

 
1.0

 
—

 
65.7

Total Revenues   
737.4

 
144.5

 
116.3

 
25.9

 
—

 
1,024.1

Expenses
 
 
 
 
 
 
 
 
 
 
 
Maintenance expense
202.3

 
30.8

 
14.6

 
—

 
—

 
247.7

Marine operating expense
—

 
—

 
70.6

 
19.2

 
—

 
89.8

Depreciation expense
178.8

 
35.8

 
8.1

 
5.2

 
—

 
227.9

Operating lease expense
45.3

 
—

 
1.5

 
—

 
—

 
46.8

Other operating expense
21.7

 
3.5

 
—

 
0.7

 
—

 
25.9

Total Expenses
448.1

 
70.1

 
94.8

 
25.1

 
—

 
638.1

Other Income (Expense)
 
 
 
 
 
 
 
 
 
 
 
Net gain on asset dispositions
42.6

 
2.6

 
—

 
11.1

 
—

 
56.3

Interest (expense) income, net
(90.1
)
 
(24.5
)
 
(3.9
)
 
(6.8
)
 
5.9

 
(119.4
)
Other (expense) income
(4.1
)
 
(2.3
)
 
0.8

 
2.3

 
(1.2
)
 
(4.5
)
Share of affiliates' pre-tax income (loss)
0.4

 
(0.1
)
 
—

 
39.9

 
—

 
40.2

Segment profit
$
238.1

 
$
50.1

 
$
18.4

 
$
47.3

 
$
4.7

 
358.6

Selling, general and administrative expense
128.8

Income taxes (includes $9.6 related to affiliates' earnings)
69.9

Net income
$
159.9

 
 
 
 
 
 
 
 
 
 
 
 
Net Gain on Asset Dispositions
 
 
 
 
 
 
 
 
 
 
 
Asset Remarketing Income:
 
 
 
 
 
 
 
 
 
 
 
Disposition gains on owned assets
$
39.5

 
$
0.1

 
$
—

 
$
1.8

 
$
—

 
$
41.4

Residual sharing income
0.5

 
—

 
—

 
9.3

 
—

 
9.8

Non-remarketing disposition gains (1)
4.5

 
2.5

 
—

 
—

 
—

 
7.0

Asset impairments
(1.9
)
 
—

 
—

 
—

 
—

 
(1.9
)
 
$
42.6

 
$
2.6

 
$
—

 
$
11.1

 
$
—

 
$
56.3

 
 
 
 
 
 
 
 
 
 
 
 
Capital Expenditures
 
 
 
 
 
 
 
 
 
 
 
Portfolio investments and capital additions
$
333.7

 
$
74.7

 
$
13.6

 
$
36.6

 
$
0.4

 
$
459.0

__________
(1) Includes scrapping gains.





Rail North America
 

Rail International
 

ASC
 

Portfolio Management
 
Other
 
GATX Consolidated
Nine Months Ended September 30, 2016
 
 
 
 
 
 
 
 
 
 
Profitability
 
 
 
 
 
 
 
 
 
 
 
Revenues
 
 
 
 
 
 
 
 
 
 
 
Lease revenue
$
703.0

 
$
136.8

 
$
3.1

 
$
4.6

 
$
—

 
$
847.5

Marine operating revenue
—

 
—

 
102.3

 
37.4

 
—

 
139.7

Other revenue
63.5

 
4.8

 
—

 
0.7

 
—

 
69.0

Total Revenues   
766.5

 
141.6

 
105.4

 
42.7

 
—

 
1,056.2

Expenses
 
 
 
 
 
 
 
 
 
 
 
Maintenance expense
196.2

 
36.1

 
12.3

 
—

 
—

 
244.6

Marine operating expense
—

 
—

 
64.0

 
24.9

 
—

 
88.9

Depreciation expense
173.0

 
34.2

 
8.6

 
5.2

 
—

 
221.0

Operating lease expense
50.6

 
—

 
4.0

 
—

 
(0.1
)
 
54.5

Other operating expense
25.0

 
3.8

 
—

 
4.9

 
—

 
33.7

Total Expenses
444.8

 
74.1

 
88.9

 
35.0

 
(0.1
)
 
642.7

Other Income (Expense)
 
 
 
 
 
 
 
 
 
 
 
Net gain on asset dispositions
36.4

 
1.5

 
—

 
84.9

 
—

 
122.8

Interest (expense) income, net
(81.2
)
 
(21.9
)
 
(3.3
)
 
(6.4
)
 
2.9

 
(109.9
)
Other (expense) income
(3.8
)
 
2.0

 
(0.3
)
 
—

 
(0.8
)
 
(2.9
)
Share of affiliates' pre-tax income (loss)
0.3

 
(0.2
)
 
—

 
33.0

 
—

 
33.1

Segment profit
$
273.4

 
$
48.9

 
$
12.9

 
$
119.2

 
$
2.2

 
456.6

Selling, general and administrative expense
127.8

Income taxes (includes $4.0 related to affiliates' earnings)
102.6

Net income
$
226.2

 
 
 
 
 
 
 
 
 
 
 
 
Net Gain on Asset Dispositions
 
 
 
 
 
 
 
 
 
 
 
Asset Remarketing Income:
 
 
 
 
 
 
 
 
 
 
 
Disposition gains on owned assets
$
32.5

 
$
—

 
$
—

 
$
4.2

 
$
—

 
$
36.7

Residual sharing income
0.7

 
—

 
—

 
82.5

 
—

 
83.2

Non-remarketing disposition gains (1)
3.2

 
1.5

 
—

 
—

 
—

 
4.7

Asset impairments
—

 
—

 
—

 
(1.8
)
 
—

 
(1.8
)
 
$
36.4

 
$
1.5

 
$
—

 
$
84.9

 
$
—

 
$
122.8

 
 
 
 
 
 
 
 
 
 
 
 
Capital Expenditures
 
 
 
 
 
 
 
 
 
 
 
Portfolio investments and capital additions
$
366.7

 
$
63.2

 
$
9.1

 
$
—

 
$
3.6

 
$
442.6

__________
(1) Includes scrapping gains.