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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.