Investments in Affiliated Companies

9 Months Ended

Sep. 30, 2011

Investments in Affiliated Companies [Abstract]

Investments in Affiliated Companies

NOTE 3. Investments in Affiliated Companies

Investments in affiliated companies represent investments in, and loans to and from, domestic and foreign companies and joint ventures that are in businesses similar to those of GATX, such as lease financing and related services for customers operating rail, marine and industrial equipment assets, as well as other business activities, including ventures that provide asset residual value guarantees.

Operating results for all affiliated companies, assuming GATX held a 100% interest, would be (in millions):

	Three Months Ended September 30				Nine Months  Ended September 30
	2011		2010		2011		2010
Revenues	$	165.9	$	155.5	$	502.0	$	488.9
Pre-tax income reported by affiliates		6.7		15.7		89.2		57.8

In the third quarter of 2011, GATX’s Clipper Fourth Limited and Clipper Fourth APS (collectively, the “Clipper Entities”) marine joint ventures, in each of which GATX held a 45% interest, were dissolved. In connection with the dissolutions, GATX contributed $62.1 million, representing its share of the Clipper Entities’ outstanding debt, and received liquidating distributions consisting of six vessels with an aggregate book value of $94.0 million and an aggregate fair value of $88.8 million. GATX recognized an impairment loss of $5.2 million as a result of the transfer, which is reflected in share of affiliates’ earnings.