Debt (Tables)

12 Months Ended

Dec. 31, 2019

Commercial Paper and Borrowings Under Bank Credit Facilities

Commercial Paper and Borrowings Under Bank Credit Facilities ($ in millions)



	December 31
	2019			2018
Balance	$	15.8		$	110.8
Weighted-average interest rate	0.65		%	2.77		%

Outstanding balances of debt obligations and the applicable interest rates

The following table shows the outstanding balances of our debt obligations and the applicable interest rates as of December 31 ($ in millions):



	Date of Issue	Final Maturity	Interest Rate		2019			2018
Recourse Fixed Rate Debt
Unsecured	10/31/14	03/30/20	2.60	%	250.0			250.0
Unsecured	02/06/15	03/30/20	2.60	%	100.0			100.0
Unsecured	05/27/11	06/01/21	4.85	%	250.0			250.0
Unsecured	09/20/11	06/01/21	4.85	%	50.0			50.0
Unsecured	06/11/12	06/15/22	4.75	%	250.0			250.0
Unsecured	03/19/13	03/30/23	3.90	%	250.0			250.0
Unsecured	11/05/18	02/15/24	4.35	%	300.0			300.0
Unsecured	11/12/19	11/05/24	0.96	%	112.1			—
Unsecured	02/06/15	03/30/25	3.25	%	300.0			300.0
Unsecured	09/13/16	09/15/26	3.25	%	350.0			350.0
Unsecured	11/04/19	11/04/26	1.07	%	84.1			—
Unsecured	02/09/17	03/30/27	3.85	%	300.0			300.0
Unsecured	11/02/17	03/15/28	3.50	%	300.0			300.0
Unsecured	05/07/18	11/07/28	4.55	%	300.0			300.0
Unsecured	01/31/19	04/01/29	4.70	%	500.0			—
Unsecured	03/04/14	03/15/44	5.20	%	300.0			300.0
Unsecured	02/06/15	03/30/45	4.50	%	250.0			250.0
Unsecured	05/16/16	05/30/66	5.63	%	150.0			150.0
Unsecured	03/04/14	07/30/19	2.50	%	—			250.0
Total recourse fixed rate debt					$	4,396.2		$	3,950.0

Recourse Floating Rate Debt

Unsecured	11/06/17	11/05/21	2.61	%	$	300.0		$	300.0
Unsecured (2)	12/22/16	05/24/24	0.90	%	117.7			63.1
Unsecured (1)	08/28/14	08/28/24	4.00	%	—			100.0
Unsecured (1)	09/23/15	09/23/25	4.07	%	—			60.0
Total recourse floating rate debt					$	417.7		$	523.1
Total debt principal					$	4,813.9		$	4,473.1
Unamortized debt discount and debt issuance costs					(34.9		)	(35.9		)
Debt adjustment for fair value hedges					1.4			(7.5		)
Total Debt					$	4,780.4		$	4,429.7

__________

(1) Debt repaid prior to the final maturity.

(2) This term loan was originally issued on December 22, 2016, with a maturity date of December 20, 2021. During 2019, GATX increased the size of the term loan and extended the maturity date to May 24, 2024.

Maturities of GATX's debt obligation

The following table shows the scheduled principal payments of our debt obligations as of December 31, 2019 (in millions):



2020	$	350.0
2021	600.0
2022	250.0
2023	250.0
2024	529.9
Thereafter	2,834.0
Total debt principal	$	4,813.9