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Financial Data of Business Segments (Tables)
9 Months Ended
Sep. 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 September 30, 2018
 

 
 
 
 
 
 
 
 
 
 
Revenues
 
 
 
 
 
 
 
 
 
 
 
Lease revenue
$
218.2

 
$
52.3

 
$
0.3

 
$
1.1

 
$

 
$
271.9

Marine operating revenue

 

 
3.1

 
57.7

 

 
60.8

Other revenue
15.2

 
1.8

 

 

 

 
17.0

Total Revenues
233.4

 
54.1

 
3.4

 
58.8

 

 
349.7

Expenses
 
 
 
 
 
 
 
 
 
 
 
Maintenance expense
60.6

 
10.1

 

 
6.8

 

 
77.5

Marine operating expense

 

 
4.4

 
35.0

 

 
39.4

Depreciation expense
62.5

 
13.8

 
1.8

 
3.5

 

 
81.6

Operating lease expense
11.8

 

 

 

 

 
11.8

Other operating expense
7.1

 
1.3

 
0.1

 

 

 
8.5

Total Expenses
142.0

 
25.2

 
6.3

 
45.3

 

 
218.8

Other Income (Expense)
 
 
 
 
 
 
 
 
 
 
 
Net gain on asset dispositions
9.6

 
0.5

 
0.2

 

 

 
10.3

Interest (expense) income, net
(31.8
)
 
(8.9
)
 
(2.6
)
 
(1.5
)
 
2.2

 
(42.6
)
Other expense (income)
(1.2
)
 
0.2

 

 
(0.1
)
 
(2.7
)
 
(3.8
)
Share of affiliates' pre-tax income
0.2

 

 
14.3

 

 

 
14.5

Segment profit (loss)
$
68.2

 
$
20.7

 
$
9.0

 
$
11.9

 
$
(0.5
)
 
$
109.3

Less:
 
 
 
 
 
 
 
 
 
 
 
Selling, general and administrative expense
46.5

Income taxes (includes $2.7 related to affiliates' earnings)
15.8

Net income
$
47.0

 
 
 
 
 
 
 
 
 
 
 
 
Net Gain on Asset Dispositions
 
 
 
 
 
 
 
 
 
 
 
Asset Remarketing Income:
 
 
 
 
 
 
 
 
 
 
 
Net gains on disposition of owned assets
$
6.7

 
$

 
$

 
$

 
$

 
$
6.7

Residual sharing income
0.5

 

 
0.2

 

 

 
0.7

Non-remarketing net gains (1)
2.4

 
0.5

 

 

 

 
2.9

 
$
9.6

 
$
0.5

 
$
0.2

 
$

 
$

 
$
10.3

 
 
 
 
 
 
 
 
 
 
 
 
Capital Expenditures
 
 
 
 
 
 
 
 
 
 
 
Portfolio investments and capital additions
$
129.1

 
$
40.4

 
$

 
$

 
$
0.2

 
$
169.7

 
 
 
 
 
 
 
 
 
 
 
 
Selected Balance Sheet Data at September 30, 2018
 
 
 
 
 
 
 
 
Investments in affiliated companies
$
3.7

 
$

 
$
474.8

 
$

 
$

 
$
478.5

Identifiable assets
$
5,000.0

 
$
1,357.3

 
$
614.9

 
$
303.5

 
$
241.7

 
$
7,517.4

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




Rail North America
 

Rail International
 

Portfolio Management
 

ASC
 
Other
 
GATX Consolidated
Three Months Ended September 30, 2017
 
 
 
 
 
 
 
 
 
 
 
Revenues
 
 
 
 
 
 
 
 
 
 
 
Lease revenue
$
224.5

 
$
50.3

 
$
0.7

 
$
1.1

 
$

 
$
276.6

Marine operating revenue

 

 
3.8

 
59.1

 

 
62.9

Other revenue
17.9

 
2.0

 
0.2

 

 

 
20.1

Total Revenues
242.4

 
52.3

 
4.7

 
60.2

 

 
359.6

Expenses
 
 
 
 
 
 
 
 
 
 
 
Maintenance expense
66.1

 
11.1

 

 
7.7

 

 
84.9

Marine operating expense

 

 
4.2

 
34.7

 

 
38.9

Depreciation expense
60.1

 
12.8

 
1.7

 
4.0

 

 
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

 
6.0

 
46.7

 

 
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
)
 
(2.2
)
 
(1.4
)
 
2.4

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

 

 

 
(1.8
)
 
(2.4
)
Share of affiliates' pre-tax income
0.1

 

 
16.0

 

 

 
16.1

Segment profit
$
70.2

 
$
20.1

 
$
12.8

 
$
12.1

 
$
0.6

 
$
115.8

Less:
 
 
 
 
 
 
 
 
 
 
 
Selling, general and administrative expense
42.5

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

Net income
$
49.0

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

 
$
0.1

 
$

 
$

 
$

 
$
7.6

Residual sharing income
0.2

 

 
0.3

 

 

 
0.5

Non-remarketing net 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

 
$
36.6

 
$
0.8

 
$
0.1

 
$
163.7

 
 
 
 
 
 
 
 
 
 
 
 
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
Nine Months Ended September 30, 2018
 
 
 
 
 
 
 
 
 
 
 
Revenues
 
 
 
 
 
 
 
 
 
 
 
Lease revenue
$
655.3

 
$
156.9

 
$
0.8

 
$
3.1

 
$

 
$
816.1

Marine operating revenue

 

 
11.0

 
119.8

 

 
130.8

Other revenue
51.1

 
6.0

 
0.5

 

 

 
57.6

Total Revenues   
706.4

 
162.9

 
12.3

 
122.9

 

 
1,004.5

Expenses
 
 
 
 
 
 
 
 
 
 
 
Maintenance expense
192.8

 
33.8

 

 
14.1

 

 
240.7

Marine operating expense

 

 
12.9

 
76.6

 

 
89.5

Depreciation expense
185.8

 
41.7

 
5.5

 
7.1

 

 
240.1

Operating lease expense
37.5

 

 

 

 

 
37.5

Other operating expense
21.5

 
4.3

 
0.4

 

 

 
26.2

Total Expenses
437.6

 
79.8

 
18.8

 
97.8

 

 
634.0

Other Income (Expense)
 
 
 
 
 
 
 
 
 
 
 
Net gain on asset dispositions
68.4

 
3.2

 
0.8

 
0.1

 

 
72.5

Interest (expense) income, net
(93.1
)
 
(26.5
)
 
(7.6
)
 
(4.3
)
 
6.8

 
(124.7
)
Other expense
(3.3
)
 
(7.3
)
 

 
(0.2
)
 
(4.1
)
 
(14.9
)
Share of affiliates' pre-tax income
0.5

 

 
47.6

 

 

 
48.1

Segment profit
$
241.3

 
$
52.5

 
$
34.3

 
$
20.7

 
$
2.7

 
$
351.5

Less:
 
 
 
 
 
 
 
 
 
 
 
Selling, general and administrative expense
137.6

Income taxes (includes $9.0 related to affiliates' earnings)
51.8

Net income
$
162.1

 
 
 
 
 
 
 
 
 
 
 
 
Net Gain on Asset Dispositions
 
 
 
 
 
 
 
 
 
 
 
Asset Remarketing Income:
 
 
 
 
 
 
 
 
 
 
 
Net gains on disposition of owned assets
$
60.8

 
$

 
$

 
$
0.1

 
$

 
$
60.9

Residual sharing income
0.9

 

 
0.8

 

 

 
1.7

Non-remarketing net gains (1)
6.7

 
3.2

 

 

 

 
9.9

 
$
68.4

 
$
3.2

 
$
0.8

 
$
0.1

 
$

 
$
72.5

 
 
 
 
 
 
 
 
 
 
 
 
Capital Expenditures
 
 
 
 
 
 
 
 
 
 
 
Portfolio investments and capital additions
$
414.7

 
$
104.5

 
$

 
$
15.8

 
$
1.7

 
$
536.7

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





Rail North America
 

Rail International
 

Portfolio Management
 

ASC
 
Other
 
GATX Consolidated
Nine Months Ended September 30, 2017
 
 
 
 
 
 
 
 
 
 
 
Revenues
 
 
 
 
 
 
 
 
 
 
 
Lease revenue
$
677.4

 
$
139.8

 
$
3.1

 
$
3.1

 
$

 
$
823.4

Marine operating revenue

 

 
21.8

 
113.2

 

 
135.0

Other revenue
60.0

 
4.7

 
1.0

 

 

 
65.7

Total Revenues
737.4

 
144.5

 
25.9

 
116.3

 

 
1,024.1

Expenses
 
 
 
 
 
 
 
 
 
 
 
Maintenance expense
202.3

 
30.8

 

 
14.6

 

 
247.7

Marine operating expense

 

 
19.2

 
70.6

 

 
89.8

Depreciation expense
178.8

 
35.8

 
5.2

 
8.1

 

 
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

 
25.1

 
94.8

 

 
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
)
 
(6.8
)
 
(3.9
)
 
5.9

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

 
0.8

 
(2.2
)
 
(5.5
)
Share of affiliates' pre-tax income (loss)
0.4

 
(0.1
)
 
39.9

 

 

 
40.2

Segment profit
$
238.1

 
$
50.1

 
$
47.3

 
$
18.4

 
$
3.7

 
$
357.6

Less:
 
 
 
 
 
 
 
 
 
 
 
Selling, general and administrative expense
127.8

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

Net income
$
159.9

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

 
$
0.1

 
$
1.8

 
$

 
$

 
$
41.4

Residual sharing income
0.5

 

 
9.3

 

 

 
9.8

Non-remarketing net 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

 
$
36.6

 
$
13.6

 
$
0.4

 
$
459.0

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