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Financial Data of Business Segments (Tables)
6 Months Ended
Jun. 30, 2018
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
 

Portfolio Management
 

ASC
 
Other
 
GATX Consolidated
Three Months Ended June 30, 2018
 
 
 
 
 
 
 
 
 
 
 
Revenues
 
 
 
 
 
 
 
 
 
 
 
Lease revenue
$
217.6

 
$
52.2

 
$
0.2

 
$
1.0

 
$
—

 
$
271.0

Marine operating revenue
—

 
—

 
3.5

 
52.3

 
—

 
55.8

Other revenue
20.1

 
2.2

 
0.4

 
—

 
—

 
22.7

Total Revenues
237.7

 
54.4

 
4.1

 
53.3

 
—

 
349.5

Expenses
 
 
 
 
 
 
 
 
 
 
 
Maintenance expense
64.1

 
11.2

 
—

 
6.7

 
—

 
82.0

Marine operating expense
—

 
—

 
4.2

 
33.4

 
—

 
37.6

Depreciation expense
61.8

 
13.8

 
1.9

 
3.6

 
—

 
81.1

Operating lease expense
12.7

 
—

 
—

 
—

 
—

 
12.7

Other operating expense
7.5

 
1.5

 
0.1

 
—

 
—

 
9.1

Total Expenses
146.1

 
26.5

 
6.2

 
43.7

 
—

 
222.5

Other Income (Expense)
 
 
 
 
 
 
 
 
 
 
 
Net gain on asset dispositions
4.7

 
1.1

 
0.3

 
—

 
—

 
6.1

Interest (expense) income, net
(31.1
)
 
(8.9
)
 
(2.7
)
 
(1.5
)
 
2.0

 
(42.2
)
Other expense
(1.2
)
 
(7.3
)
 
—

 
(0.1
)
 
(1.2
)
 
(9.8
)
Share of affiliates' pre-tax income
0.2

 
—

 
15.9

 
—

 
—

 
16.1

Segment profit
$
64.2

 
$
12.8

 
$
11.4

 
$
8.0

 
$
0.8

 
97.2

Less:
 
 
 
 
 
 
 
 
 
 
 
Selling, general and administrative expense
46.2

Income taxes (includes $3.1 related to affiliates' earnings)
12.2

Net income
$
38.8

 
 
 
 
 
 
 
 
 
 
 
 
Net Gain on Asset Dispositions
 
 
 
 
 
 
 
 
 
 
 
Asset Remarketing Income:
 
 
 
 
 
 
 
 
 
 
 
Net gains on disposition of owned assets
$
4.2

 
$
—

 
$
—

 
$
—

 
$
—

 
$
4.2

Residual sharing income
0.3

 
—

 
0.3

 
—

 
—

 
0.6

Non-remarketing net gains (1)
0.2

 
1.1

 
—

 
—

 
—

 
1.3

 
$
4.7

 
$
1.1

 
$
0.3

 
$
—

 
$
—

 
$
6.1

 
 
 
 
 
 
 
 
 
 
 
 
Capital Expenditures
 
 
 
 
 
 
 
 
 
 
 
Portfolio investments and capital additions
$
149.1

 
$
34.6

 
$
—

 
$
4.1

 
$
0.8

 
$
188.6

 
 
 
 
 
 
 
 
 
 
 
 
Selected Balance Sheet Data at June 30, 2018
 
 
 
 
 
 
 
 
Investments in affiliated companies
$
6.8

 
$
—

 
$
462.1

 
$
—

 
$
—

 
$
468.9

Identifiable assets
$
5,022.6

 
$
1,313.9

 
$
606.0

 
$
313.6

 
$
239.4

 
$
7,495.5

__________
(1) Includes net gains from scrapping of railcars.




Rail North America
 

Rail International
 

Portfolio Management
 

ASC
 
Other
 
GATX Consolidated
Three Months Ended June 30, 2017
 
 
 
 
 
 
 
 
 
 
 
Revenues
 
 
 
 
 
 
 
 
 
 
 
Lease revenue
$
225.7

 
$
46.2

 
$
1.2

 
$
1.0

 
$
—

 
$
274.1

Marine operating revenue
—

 
—

 
7.4

 
47.7

 
—

 
55.1

Other revenue
17.3

 
1.6

 
0.3

 
—

 
—

 
19.2

Total Revenues
243.0

 
47.8

 
8.9

 
48.7

 
—

 
348.4

Expenses
 
 
 
 
 
 
 
 
 
 
 
Maintenance expense
68.5

 
9.7

 
—

 
6.7

 
—

 
84.9

Marine operating expense
—

 
—

 
7.4

 
30.6

 
—

 
38.0

Depreciation expense
59.7

 
11.8

 
1.8

 
4.0

 
—

 
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

 
9.5

 
41.7

 
—

 
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
)
 
(2.4
)
 
(1.3
)
 
0.3

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

 
0.8

 
(0.1
)
 
(1.6
)
Share of affiliates' pre-tax income (loss)
0.2

 
(0.1
)
 
12.3

 
—

 
—

 
12.4

Segment profit
$
74.9

 
$
16.6

 
$
19.8

 
$
6.5

 
$
0.2

 
118.0

Less:
 
 
 
 
 
 
 
 
 
 
 
Selling, general and administrative expense
42.6

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

Net income
$
53.4

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

 
$
—

 
$
1.8

 
$
—

 
$
—

 
$
12.7

Residual sharing income
0.2

 
—

 
8.7

 
—

 
—

 
8.9

Non-remarketing net 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 December 31, 2017
 
 
 
 
 
 
 
 
Investments in affiliated companies
$
6.8

 
$
—

 
$
434.2

 
$
—

 
$
—

 
$
441.0

Identifiable assets
$
4,915.0

 
$
1,332.9

 
$
582.8

 
$
286.7

 
$
305.0

 
$
7,422.4

__________
(1) Includes net gains from scrapping of railcars.



Rail North America
 

Rail International
 

Portfolio Management
 

ASC
 
Other
 
GATX Consolidated
Six Months Ended June 30, 2018
 
 
 
 
 
 
 
 
 
 
 
Revenues
 
 
 
 
 
 
 
 
 
 
 
Lease revenue
$
437.1

 
$
104.6

 
0.5

 
$
2.0

 
$
—

 
$
544.2

Marine operating revenue
—

 
—

 
7.9

 
62.1

 
—

 
70.0

Other revenue
35.9

 
4.2

 
0.5

 
—

 
—

 
40.6

Total Revenues   
473.0

 
108.8

 
8.9

 
64.1

 
—

 
654.8

Expenses
 
 
 
 
 
 
 
 
 
 
 
Maintenance expense
132.2

 
23.7

 
—

 
7.3

 
—

 
163.2

Marine operating expense
—

 
—

 
8.5

 
41.6

 
—

 
50.1

Depreciation expense
123.3

 
27.9

 
3.7

 
3.6

 
—

 
158.5

Operating lease expense
25.7

 
—

 
—

 
—

 
—

 
25.7

Other operating expense
14.4

 
3.0

 
0.3

 
—

 
—

 
17.7

Total Expenses
295.6

 
54.6

 
12.5

 
52.5

 
—

 
415.2

Other Income (Expense)
 
 
 
 
 
 
 
 
 
 
 
Net gain on asset dispositions
58.8

 
2.7

 
0.6

 
0.1

 
—

 
62.2

Interest (expense) income, net
(61.3
)
 
(17.6
)
 
(5.0
)
 
(2.8
)
 
4.6

 
(82.1
)
Other expense
(2.1
)
 
(7.5
)
 
—

 
(0.1
)
 
(1.4
)
 
(11.1
)
Share of affiliates' pre-tax income
0.3

 
—

 
33.3

 
—

 
—

 
33.6

Segment profit
$
173.1

 
$
31.8

 
$
25.3

 
$
8.8

 
$
3.2

 
242.2

Less:
 
 
 
 
 
 
 
 
 
 
 
Selling, general and administrative expense
91.1

Income taxes (includes $6.3 related to affiliates' earnings)
36.0

Net income
$
115.1

 
 
 
 
 
 
 
 
 
 
 
 
Net Gain on Asset Dispositions
 
 
 
 
 
 
 
 
 
 
 
Asset Remarketing Income:
 
 
 
 
 
 
 
 
 
 
 
Net gains on disposition of owned assets
$
54.1

 
$
—

 
$
—

 
$
0.1

 
$
—

 
$
54.2

Residual sharing income
0.4

 
—

 
0.6

 
—

 
—

 
1.0

Non-remarketing net gains (1)
4.3

 
2.7

 
—

 
—

 
—

 
7.0

 
$
58.8

 
$
2.7

 
0.6

 
$
0.1

 
$
—

 
$
62.2

 
 
 
 
 
 
 
 
 
 
 
 
Capital Expenditures
 
 
 
 
 
 
 
 
 
 
 
Portfolio investments and capital additions
$
285.6

 
$
64.1

 
—

 
$
15.8

 
$
1.5

 
$
367.0

 
 
 
 
 
 
 
 
 
 
 
 
__________
(1) Includes net gains from scrapping of railcars.





Rail North America
 

Rail International
 

Portfolio Management
 

ASC
 
Other
 
GATX Consolidated
Six Months Ended June 30, 2017
 
 
 
 
 
 
 
 
 
 
 
Revenues
 
 
 
 
 
 
 
 
 
 
 
Lease revenue
$
452.9

 
$
89.5

 
$
2.4

 
$
2.0

 
$
—

 
$
546.8

Marine operating revenue
—

 
—

 
18.0

 
54.1

 
—

 
72.1

Other revenue
42.1

 
2.7

 
0.8

 
—

 
—

 
45.6

Total Revenues
495.0

 
92.2

 
21.2

 
56.1

 
—

 
664.5

Expenses
 
 
 
 
 
 
 
 
 
 
 
Maintenance expense
136.2

 
19.7

 
—

 
6.9

 
—

 
162.8

Marine operating expense
—

 
—

 
15.0

 
35.9

 
—

 
50.9

Depreciation expense
118.7

 
23.0

 
3.5

 
4.1

 
—

 
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

 
19.1

 
48.1

 
—

 
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
)
 
(4.6
)
 
(2.5
)
 
3.5

 
(79.2
)
Other (expense) income
(3.2
)
 
(2.6
)
 
2.3

 
0.8

 
(0.4
)
 
(3.1
)
Share of affiliates' pre-tax income (loss)
0.3

 
(0.1
)
 
23.9

 
—

 
—

 
24.1

Segment profit
$
167.9

 
$
30.0

 
$
34.5

 
$
6.3

 
$
3.1

 
241.8

Less:
 
 
 
 
 
 
 
 
 
 
 
Selling, general and administrative expense
85.3

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

Net income
$
110.9

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

 
$
—

 
$
1.8

 
$
—

 
$
—

 
$
33.8

Residual sharing income
0.3

 
—

 
9.0

 
—

 
—

 
9.3

Non-remarketing net 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 net gains from scrapping of railcars.