Leases (Tables)

12 Months Ended

Dec. 31, 2017

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):

	2017			2016
Total contractual lease payments receivable	$	140.3		$	164.4
Estimated unguaranteed residual value of leased assets	58.3			59.0
Unearned income	(62.5		)	(75.7		)
Finance leases	$	136.1		$	147.7

Minimum Future Receipts

The following table shows our future contractual receipts from finance leases and noncancelable operating leases as of December 31, 2017 (in millions):

	Finance Leases		Operating Leases (1)		Total
2018	$	21.1	$	947.7	$	968.8
2019	21.1		755.8		776.9
2020	20.6		589.9		610.5
2021	19.9		424.8		444.7
2022	28.8		302.8		331.6
Years thereafter	28.8		524.8		553.6
	$	140.3	$	3,545.8	$	3,686.1

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):

	2017			2016
Railcars	$	19.3		$	18.9
Marine vessels (1)	—			62.1
Less: allowance for depreciation	(1.6		)	(61.6		)
	$	17.7		$	19.4

Future minimum rental payments due under noncancelable operating leases

uture contractual rental payments due under noncancelable leases as of December 31, 2017 (in millions):

	Capital Leases			Operating Leases
2018	$	1.6		$	90.6
2019	11.6			68.7
2020	—			67.4
2021	—			61.3
2022	—			52.9
Years thereafter	—			273.7
	$	13.2		$	614.6
Less: amounts representing interest	(0.7		)
Present value of future contractual capital lease payments	$	12.5