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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.