Operating Assets and Facilities

3 Months Ended

Mar. 31, 2026

Property, Plant and Equipment [Abstract]

Operating Assets and Facilities

Operating Assets and Facilities

The following table shows the components of our operating assets and facilities (in millions):

	March 31 2026		December 31 2025
Railcars and locomotives	$	17,880.1	$	13,802.1
Aircraft spare engines	1,177.7		1,177.5
Tank containers	277.3		278.0
Buildings, leasehold improvements, and other equipment	322.8		318.5
Other	123.0		86.5
	$	19,780.9	$	15,662.6
Less: allowance for depreciation	(4,328.3)		(4,251.7)
Net operating assets and facilities	$	15,452.6	$	11,410.9

Total depreciation expense was $174.6 million for the three months ended March 31, 2026 and $108.4 million for the three months ended March 31, 2025.