Asset Impairments and Assets Held for Sale (Notes)

12 Months Ended

Dec. 31, 2025

Asset Impairment [Abstract]

Asset Impairments

Asset Impairments and Assets Held for Sale

The following table summarizes the components of asset impairments for the years ended December 31 (in millions):

	2025		2024		2023
Attributable to Consolidated Assets
Rail North America	$	3.6	$	—	$	—
Rail International	—		—		0.3
Engine Leasing	—		—		1.2
Total	$	3.6	$	—	$	1.5

Impairment losses at Rail North America in 2025 were related to older flammable liquids railcars. We had no asset impairments in 2024. Impairment losses at Rail International in 2023 were due to declines in value of railcars from functional obsolescence. Impairment losses at Engine Leasing in 2023 were due to the decision to sell our liquified gas-carrying vessels (the " Specialized Gas Vessels").

In the consolidated statements of income, impairment losses related to consolidated assets were included in net gain on asset dispositions.

Assets held for sale, all at Rail North America, were $4.0 million as of December 31, 2025 and $0.4 million as of December 31, 2024. All assets held for sale at December 31, 2025 are expected to be sold within one year and are included in other assets on the balance sheet.