Financial Data of Business Segments (Tables)

12 Months Ended

Dec. 31, 2019

The following tables show certain segment data for the years ended December 31, 2022, 2021, and 2020 (in millions):


	Rail North America		Rail International		Portfolio Management		Other		GATX Consolidated
2022 Profitability
Revenues
Lease revenue	$	826.0	$	266.2	$	33.0	$	29.4	$	1,154.6
Marine operating revenue	—		—		18.9		—		18.9
Other revenue	82.0		9.1		1.7		6.7		99.5
Total Revenues	908.0		275.3		53.6		36.1		1,273.0
Expenses
Maintenance expense	238.5		51.4		—		2.8		292.7
Marine operating expense	—		—		14.1		—		14.1
Depreciation expense	258.6		69.1		17.8		12.0		357.5
Operating lease expense	36.1		—		—		—		36.1
Other operating expense	24.5		8.3		2.3		2.3		37.4
Total Expenses	557.7		128.8		34.2		17.1		737.8
Other Income (Expense)
Net gain (loss) on asset dispositions	119.7		(11.2)		(31.1)		0.5		77.9
Interest expense, net	(144.6)		(45.6)		(19.0)		(4.8)		(214.0)
Other expense	(4.6)		(3.8)		—		(18.6)		(27.0)
Share of affiliates' pre-tax earnings	0.5		—		45.4		—		45.9
Segment profit (loss)	$	321.3	$	85.9	$	14.7	$	(3.9)	418.0
Less:
Selling, general and administrative expense									195.0
Income taxes (includes $12.3 related to affiliates' earnings)									67.1
Net income from continuing operations									$	155.9
Net income from discontinued operations, net of taxes									—
Net income									$	155.9

Net Gain (Loss) on Asset Dispositions
Asset Remarketing Income:
Net gains on dispositions of owned assets	$	102.2	$	1.6	$	—	$	0.3	$	104.1
Residual sharing income	2.4		—		3.2		—		5.6
Non-remarketing net gains (1)	15.1		1.8		—		0.2		17.1
Asset impairments	—		(14.6)		(34.3)		—		(48.9)
	$	119.7	$	(11.2)	$	(31.1)	$	0.5	$	77.9

Capital Expenditures
Portfolio investments and capital additions	$	815.9	$	243.9	$	149.7	$	46.3	$	1,255.8

Selected Balance Sheet Data
Investments in affiliated companies	$	0.8	$	—	$	574.3	$	—	$	575.1
Identifiable assets from continuing operations	$	6,445.7	$	1,774.4	$	1,106.6	$	745.3	$	10,072.0

__________

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


	Rail North America		Rail International		Portfolio Management		Other		GATX Consolidated
2021 Profitability
Revenues
Lease revenue	$	814.5	$	272.9	$	28.1	$	25.0	$	1,140.5
Marine operating revenue	—		—		19.1		—		19.1
Other revenue	77.2		11.4		0.5		8.7		97.8
Total Revenues	891.7		284.3		47.7		33.7		1,257.4
Expenses
Maintenance expense	235.4		57.6		—		4.1		297.1
Marine operating expense	—		—		17.5		—		17.5
Depreciation expense	261.1		73.6		17.6		12.1		364.4
Operating lease expense	39.2		—		—		—		39.2
Other operating expense	30.3		9.0		1.7		3.0		44.0
Total Expenses	566.0		140.2		36.8		19.2		762.2
Other Income (Expense)
Net gain on asset dispositions	94.3		2.7		8.0		0.9		105.9
Interest expense, net	(136.2)		(45.2)		(16.6)		(6.0)		(204.0)
Other income (expense)	1.6		3.4		2.0		(10.7)		(3.7)
Share of affiliates' pre-tax earnings	—		—		56.5		—		56.5
Segment profit (loss)	$	285.4	$	105.0	$	60.8	$	(1.3)	449.9
Less:
Selling, general and administrative expense									198.3
Income taxes (includes $55.3 related to affiliates' earnings)									108.5
Net income from continuing operations									$	143.1
Net income from discontinued operations, net of taxes									—
Net income									$	143.1

Net Gain on Asset Dispositions
Asset Remarketing Income:
Net gains on dispositions of owned assets	$	80.7	$	1.2	$	—	$	0.5	$	82.4
Residual sharing income	0.9		—		8.0		—		8.9
Non-remarketing net gains (1)	15.1		1.5		—		0.4		17.0
Asset impairments	(2.4)		—		—		—		(2.4)
	$	94.3	$	2.7	$	8.0	$	0.9	$	105.9

Capital Expenditures
Portfolio investments and capital additions	$	574.4	$	173.3	$	353.0	$	31.2	$	1,131.9

Selected Balance Sheet Data
Investments in affiliated companies	$	0.3	$	—	$	588.1	$	—	$	588.4
Identifiable assets from continuing operations	$	6,141.7	$	1,729.9	$	1,048.7	$	621.4	$	9,541.7

__________

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


	Rail North America		Rail International		Portfolio Management		Other		GATX Consolidated
2020 Profitability
Revenues
Lease revenue	$	838.3	$	248.4	$	0.8	$	—	$	1,087.5
Marine operating revenue	—		—		15.6		—		15.6
Other revenue	95.8		9.7		0.6		—		106.1
Total Revenues	934.1		258.1		17.0		—		1,209.2
Expenses
Maintenance expense	264.7		50.8		—		—		315.5
Marine operating expense	—		—		19.7		—		19.7
Depreciation expense	258.6		66.6		5.3		—		330.5
Operating lease expense	49.3		—		—		—		49.3
Other operating expense	27.3		7.5		0.5		—		35.3
Total Expenses	599.9		124.9		25.5		—		750.3
Other Income (Expense)
Net gain on asset dispositions	38.3		1.2		2.2		—		41.7
Interest (expense) income, net	(139.9)		(45.9)		(12.2)		7.7		(190.3)
Other expense	(4.9)		(5.0)		—		(3.1)		(13.0)
Share of affiliates' pre-tax (loss) earnings	(0.1)		—		95.9		—		95.8
Segment profit	$	227.6	$	83.5	$	77.4	$	4.6	393.1
Less:
Selling, general and administrative expense									172.0
Income taxes (includes $33.6 related to affiliates' earnings)									70.9
Net income from continuing operations									$	150.2
Net income from discontinued operations, net of taxes									1.1
Net income									$	151.3

Net Gain on Asset Dispositions
Asset Remarketing Income:
Net gains on dispositions of owned assets	$	38.8	$	0.5	$	0.1	$	—	$	39.4
Residual sharing income	0.4		—		2.1		—		2.5
Non-remarketing net (losses) gains (1)	(0.6)		0.7		—		—		0.1
Asset impairments	(0.3)		—		—		—		(0.3)
	$	38.3	$	1.2	$	2.2	$	—	$	41.7

Capital Expenditures
Portfolio investments and capital additions	$	642.0	$	216.0	$	0.5	$	205.5	$	1,064.0

Selected Balance Sheet Data
Investments in affiliated companies	$	—	$	—	$	584.7	$	—	$	584.7
Identifiable assets from continuing operations	$	5,944.4	$	1,745.8	$	706.1	$	541.3	$	8,937.6

__________

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