Subsequent Events

12 Months Ended

Dec. 31, 2025

Subsequent Events [Abstract]

Subsequent Events

Subsequent Events

On January 1, 2026:

•GATX completed the acquisition of Wells Fargo's rail operating lease portfolio for a purchase price of approximately $4.2 billion. At closing, Wells Fargo's rail operating lease portfolio comprised approximately 101,000 railcars. The acquisition was completed through the GABX joint venture with Brookfield. Initially, GATX's ownership share of GABX is 30%, with Brookfield's share at 70%. GATX will have the option to acquire up to 100% ownership over time through a call option agreement it entered into with GABX and Brookfield. We will account for the purchase as an asset acquisition, and the operations of the joint venture will be consolidated within the Rail North America segment.

•GATX acquired approximately 200 locomotives directly from Wells Fargo for approximately $30.4 million.

•Brookfield completed the acquisition of Wells Fargo’s rail finance lease portfolio, consisting of both railcars and locomotives.

GATX, through separate management agreements with GABX and Brookfield, will serve as manager of the railcars in the joint venture, as well as the finance lease railcars and locomotives directly owned by Brookfield, and will receive a management fee for these services.