Financial Data of Business Segments (Tables)

12 Months Ended

Dec. 31, 2019

Segment Reporting [Abstract]

Segment data

The following tables show certain segment data for the years ended December 31, 2019, 2018, and 2017 (in millions):

	Rail North America			Rail International			Portfolio Management			ASC			Other			GATX Consolidated
2019 Profitability
Revenues
Lease revenue	$	868.3		$	219.2		$	1.0		$	4.2		$	—		$	1,092.7
Marine operating revenue	—			—			8.2			187.5			—			195.7
Other revenue	96.2			8.5			0.7			—			—			105.4
Total Revenues	964.5			227.7			9.9			191.7			—			1,393.8
Expenses
Maintenance expense	267.9			46.5			—			24.5			—			338.9
Marine operating expense	—			—			18.9			114.3			—			133.2
Depreciation expense	256.9			57.8			6.6			10.6			—			331.9
Operating lease expense	54.4			—			—			—			—			54.4
Other operating expense	23.9			6.8			0.6			—			—			31.3
Total Expenses	603.1			111.1			26.1			149.4			—			889.7
Other Income (Expense)
Net gain (loss) on asset dispositions	54.6			1.7			(4.7		)	10.5			—			62.1
Interest (expense) income, net	(134.5		)	(40.6		)	(11.2		)	(6.1		)	5.8			(186.6		)
Other (expense) income	(5.3		)	1.2			—			(0.6		)	(3.2		)	(7.9		)
Share of affiliates' pre-tax income	—			—			94.5			—			—			94.5
Segment profit	$	276.2		$	78.9		$	62.4		$	46.1		$	2.6		466.2
Less:
Selling, general and administrative expense																188.6
Income taxes (includes $18.0 related to affiliates' earnings)																66.4
Net income																$	211.2
Net Gain (Loss) on Asset Dispositions
Asset Remarketing Income:
Disposition gains on owned assets	$	58.5		$	0.1		$	—		$	—		$	—		$	58.6
Residual sharing income	0.4			—			1.5			—			—			1.9
Non-remarketing disposition (losses) gains (1)	(3.9		)	1.6			—			10.5			—			8.2
Asset impairments	(0.4		)	—			(6.2		)	—			—			(6.6		)
	$	54.6		$	1.7		$	(4.7	)	$	10.5		$	—		$	62.1
Capital Expenditures
Portfolio investments and capital additions	$	502.2		$	215.7		$	—		$	18.9		$	4.9		$	741.7
Selected Balance Sheet Data
Investments in affiliated companies	$	0.2		$	—		$	512.4		$	—		$	—		$	512.6
Identifiable assets	$	5,646.7		$	1,486.7		$	653.7		$	291.1		$	206.9		$	8,285.1

__________

(1) Includes net scrapping gains/losses.

	Rail North America			Rail International			Portfolio Management			ASC			Other			GATX Consolidated
2018 Profitability
Revenues
Lease revenue	$	873.4		$	209.3		$	1.0		$	4.1		$	—		$	1,087.8
Marine operating revenue	—			—			14.3			181.7			—			196.0
Other revenue	68.1			8.2			0.8			—			—			77.1
Total Revenues	941.5			217.5			16.1			185.8			—			1,360.9
Expenses
Maintenance expense	254.7			44.5			—			22.6			—			321.8
Marine operating expense	—			—			16.8			114.1			—			130.9
Depreciation expense	248.5			55.5			7.3			10.6			—			321.9
Operating lease expense	49.6			—			—			—			—			49.6
Other operating expense	27.3			5.8			—			—			—			33.1
Total Expenses	580.1			105.8			24.1			147.3			—			857.3
Other Income (Expense)
Net gain (loss) on asset dispositions	76.3			(0.2		)	(3.4		)	0.1			—			72.8
Interest (expense) income, net	(125.2		)	(35.9		)	(10.4		)	(5.7		)	8.6			(168.6		)
Other (expense) income	(5.2		)	(7.0		)	—			0.1			(9.5		)	(21.6		)
Share of affiliates' pre-tax income	0.6			—			60.5			—			—			61.1
Segment profit (loss)	$	307.9		$	68.6		$	38.7		$	33.0		$	(0.9	)	447.3
Less:
Selling, general and administrative expense																191.1
Income taxes (includes $10.8 related to affiliates' earnings)																44.9
Net income																$	211.3
Net Gain (Loss) on Asset Dispositions
Asset Remarketing Income:
Disposition gains on owned assets	$	64.7		$	—		$	—		$	0.1		$	—		$	64.8
Residual sharing income	1.4			—			1.1			—			—			2.5
Non-remarketing disposition gains (1)	10.8			3.7			—			—			—			14.5
Asset impairments	(0.6		)	(3.9		)	(4.5		)	—			—			(9.0		)
	$	76.3		$	(0.2	)	$	(3.4	)	$	0.1		$	—		$	72.8
Capital Expenditures
Portfolio investments and capital additions	$	737.4		$	152.7		$	14.1		$	15.8		$	23.4		$	943.4
Selected Balance Sheet Data
Investments in affiliated companies	$	0.2		$	—		$	464.3		$	—		$	—		$	464.5
Identifiable assets	$	5,236.6		$	1,363.2		$	606.8		$	297.8		$	112.3		$	7,616.7

__________

(1) Includes net scrapping gains/losses.

	Rail North America			Rail International			Portfolio Management			ASC			Other			GATX Consolidated
2017 Profitability
Revenues
Lease revenue	$	899.9		$	190.3		$	3.8		$	4.1		$	—		$	1,098.1
Marine operating revenue	—			—			25.0			168.4			—			193.4
Other revenue	77.5			6.8			1.1			—			—			85.4
Total Revenues	977.4			197.1			29.9			172.5			—			1,376.9
Expenses
Maintenance expense	265.0			41.1			—			22.2			—			328.3
Marine operating expense	—			—			24.8			106.2			—			131.0
Depreciation expense	239.4			48.9			7.0			12.0			—			307.3
Operating lease expense	60.7			—			—			1.8			—			62.5
Other operating expense	28.7			4.7			1.0			—			—			34.4
Total Expenses	593.8			94.7			32.8			142.2			—			863.5
Other Income (Expense)
Net gain (loss) on asset dispositions	45.2			3.1			7.7			(1.9		)	—			54.1
Interest (expense) income, net	(121.2		)	(33.4		)	(9.2		)	(5.2		)	8.5			(160.5		)
Other (expense) income	(5.9		)	(3.2		)	2.3			1.3			(7.1		)	(12.6		)
Share of affiliates' pre-tax (loss) income	(2.4		)	(0.1		)	58.4			—			—			55.9
Segment profit	$	299.3		$	68.8		$	56.3		$	24.5		$	1.4		450.3
Less:
Selling, general and administrative expense																180.0
Income taxes (includes $12.0 related to affiliates' earnings)																(231.7		)
Net income																$	502.0
Net Gain (Loss) on Asset Dispositions
Asset Remarketing Income:
Disposition gains (losses) on owned assets	$	44.0		$	0.1		$	1.8		$	(1.8	)	$	—		$	44.1
Residual sharing income	0.6			—			9.6			—			—			10.2
Non-remarketing disposition gains (losses) (1)	5.2			3.3			—			(0.1		)	—			8.4
Asset impairments	(4.6		)	(0.3		)	(3.7		)	—			—			(8.6		)
	$	45.2		$	3.1		$	7.7		$	(1.9	)	$	—		$	54.1
Capital Expenditures
Portfolio investments and capital additions	$	460.9		$	90.9		$	36.6		$	14.0		$	1.0		$	603.4
Selected Balance Sheet Data
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 scrapping gains/losses.