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Fair Value Disclosure (Tables)
 12 Months Ended
Dec. 31, 2025
Fair Value Disclosures [Abstract]  
Assets and liabilities at fair value recurring basis
The following table shows our derivative liabilities that are measured at fair value (in millions):
Significant Observable Inputs (Level 2)
Balance Sheet LocationFair Value
December 31, 2025		Fair Value
December 31, 2024
Derivative Liabilities
Interest rate contracts (1)
Other liabilities
$28.5 $4.0 
Foreign exchange contracts (2)
Other liabilities
12.5 8.1 
Total derivative liabilities$41.0 $12.1 
_______
(1) Designated as hedges.
(2) Not designated as hedges.
Impact of GATX's Derivative Instrument On Income Statement and Other comprehensive income (loss)
The following table shows the amounts recorded on the balance sheet related to cumulative basis adjustments for fair value hedges as of December 31 (in millions):
Carrying Amount of the Hedged LiabilitiesCumulative Amount of Fair Value Hedging Adjustment Included in the Carrying Amount of the Hedged Liabilities
Line Item in the Balance Sheet in Which the Hedged Item is Included2025202420252024
Recourse debt$49.7 $198.9 $1.4 $4.0 
The following tables show the impact of our derivative instruments on our statements of comprehensive income for the years ended December 31 (in millions):

Amount of Loss (Gain) Recognized in Other Comprehensive Income (Loss)
Derivative Designation202520242023
Derivatives in cash flow hedging relationships:
Foreign exchange contracts
$27.2 $(3.4)$3.6 
Total$27.2 $(3.4)$3.6 

Location of Loss (Gain) Reclassified from Accumulated Other Comprehensive Loss into EarningsAmount of Loss (Gain) Reclassified from Accumulated Other Comprehensive Loss into Earnings
202520242023
Interest expense$1.1 $1.6 $1.6 
Other expense0.3 (3.7)3.7 
Total$1.4 $(2.1)$5.3 
Fair value hedging instruments
The following tables show the impact of our fair value and cash flow hedge accounting relationships, as well as the impact of our non-designated derivatives, on the statements of income for the years ended December 31 (in millions):

Amount of (Loss) Gain Recognized in Interest Expense on Fair Value and Cash Flow Hedging Relationships
202520242023
Total interest expense$(391.5)$(341.0)$(263.4)
(Loss) gain on fair value hedging relationships
Interest rate contracts:
Hedged items
(2.5)(4.0)(3.6)
Derivatives designated as hedging instruments
2.5 4.0 3.6 
(Loss) gain on cash flow hedging relationships
Interest rate contracts:
Amount of loss reclassified from accumulated other comprehensive loss into earnings(1.1)(1.6)(1.6)
Amount of (Loss) Gain Recognized in Other Expense on Cash Flow Hedging Relationships and Non-Designated Derivative Contracts
202520242023
Total other expense$(0.4)$(9.5)$(9.4)
(Loss) gain on cash flow hedging relationships
Foreign exchange contracts:
Amount of gain (loss) reclassified from accumulated other comprehensive loss into earnings (1)(0.3)3.7 (3.7)
(Loss) gain on non-designated foreign exchange derivative contracts (2)(3.6)1.7 (11.3)
_______
(1) These amounts are substantially offset by foreign currency remeasurement adjustments on related hedged instruments, also recognized in other expense.
(2) Foreign exchange contracts.
Cash flow hedging instruments
The following tables show the impact of our fair value and cash flow hedge accounting relationships, as well as the impact of our non-designated derivatives, on the statements of income for the years ended December 31 (in millions):

Amount of (Loss) Gain Recognized in Interest Expense on Fair Value and Cash Flow Hedging Relationships
202520242023
Total interest expense$(391.5)$(341.0)$(263.4)
(Loss) gain on fair value hedging relationships
Interest rate contracts:
Hedged items
(2.5)(4.0)(3.6)
Derivatives designated as hedging instruments
2.5 4.0 3.6 
(Loss) gain on cash flow hedging relationships
Interest rate contracts:
Amount of loss reclassified from accumulated other comprehensive loss into earnings(1.1)(1.6)(1.6)
Amount of (Loss) Gain Recognized in Other Expense on Cash Flow Hedging Relationships and Non-Designated Derivative Contracts
202520242023
Total other expense$(0.4)$(9.5)$(9.4)
(Loss) gain on cash flow hedging relationships
Foreign exchange contracts:
Amount of gain (loss) reclassified from accumulated other comprehensive loss into earnings (1)(0.3)3.7 (3.7)
(Loss) gain on non-designated foreign exchange derivative contracts (2)(3.6)1.7 (11.3)
_______
(1) These amounts are substantially offset by foreign currency remeasurement adjustments on related hedged instruments, also recognized in other expense.
(2) Foreign exchange contracts.
Other financial instruments
The following table shows the carrying amounts and fair values of our other financial instruments as of December 31 (in millions):
20252024
 
 		Carrying
Amount		Fair
Value		Carrying
Amount		Fair
Value
Liabilities
Recourse fixed rate debt$8,622.5 $8,443.1 $7,609.5 $7,243.9 
Recourse floating rate debt3,829.2 3,870.2 605.8 617.3 
Total$12,451.7 $12,313.3 $8,215.3 $7,861.2