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Accounting Changes
12 Months Ended
Dec. 31, 2011
Accounting Changes [Abstract]  
Accounting Changes

NOTE 2.    Accounting Changes

Multiemployer Benefit Plans — In September 2011, the Financial Accounting Standards Board (“FASB”) issued authoritative accounting guidance that requires an entity to provide additional quantitative and qualitative disclosures about its involvement in multiemployer pension and other postretirement benefit plans. The disclosures include the entity’s level of participation in multiemployer benefit plans, the financial health of those plans, and the nature of the entity’s commitments to the plans. The application of the new guidance did not impact GATX’s financial position, results of operations or cash flows. See Note 10 for the new disclosures.

Presentation of Comprehensive Income — In June 2011, the FASB issued authoritative accounting guidance that revises the requirements for reporting other comprehensive income and its components. The guidance requires an entity to present net income and other comprehensive income in one continuous statement or in two separate, but consecutive, statements. GATX adopted this guidance early and revised the presentation of its financial statements. There was no impact to GATX’s financial position, results of operations or cash flows.