XML 59 R20.htm IDEA: XBRL DOCUMENT v2.4.0.6
Fair Value Disclosure (Tables)
3 Months Ended
Mar. 31, 2012
Fair Value Disclosures [Abstract]  
Assets and liabilities at fair value recurring basis
                                 
    March 31,
2012
    Quoted Prices in
Active Markets
for Identical
Assets

(Level 1)
    Significant
Observable
Inputs
(Level 2)
    Significant
Unobservable
Inputs
(Level 3)
 

Assets

                               

Interest rate derivatives (a)

  $ 14.1     $ —       $ 14.1     $ —    

Foreign exchange rate derivatives (b)

    0.2       —         0.2       —    

Available for sale securities & warrants

    6.7       3.8       2.9       —    

Liabilities

                               

Interest rate derivatives (a)

    1.8       —         1.8       —    

Interest rate derivatives (b)

    0.3       —         0.3       —    

Foreign exchange rate derivatives (b)

    0.5       —         0.5       —    
         
    December 31,
2011
    Quoted Prices in
Active Markets
for Identical
Assets

(Level 1)
    Significant
Observable
Inputs
(Level 2)
    Significant
Unobservable
Inputs
(Level 3)
 

Assets

                               

Interest rate derivatives (a)

  $ 15.3     $ —       $ 15.3     $ —    

Foreign exchange rate derivatives (b)

    2.1       —         2.1       —    

Available for sale securities & warrants

    2.9       2.9       —         —    

Liabilities

                               

Interest rate derivatives (a)

    2.1       —         2.1       —    

Interest rate derivatives (b)

    0.3       —         0.3       —    

 

(a) Designated as hedges
(b) Not designated as hedges
Comprehensive income impacts of GATX's derivative instruments
                     
        Three Months Ended
March  31
 

Derivative Designation

 

Location of Gain (Loss) Recognized

  2012     2011  

Fair value hedges (a)

  Interest expense   $ (1.1   $ (2.1

Cash flow hedges

  Other comprehensive (loss) income (effective portion)     0.3       1.0  

Cash flow hedges

  Interest expense (effective portion reclassified from accumulated unrealized loss on derivative instruments)     (1.9     (1.9

Cash flow hedges

  Operating lease expense (effective portion reclassified from accumulated unrealized loss on derivative instruments)     (0.4     (0.4

Non-designated

  Other expense     0.3       0.1  

 

(a) Equally offsetting the amount recognized in interest expense was the fair value adjustment relating to the underlying debt.
Fair Value Other Financial Instruments
                                 
    March 31, 2012     December 31, 2011  
    Carrying
Amount
    Fair
Value
    Carrying
Amount
    Fair
Value
 

Assets

                               

Investment Funds

  $ 2.7     $ 6.0     $ 2.7     $ 7.4  

Loans

    30.3       30.7       30.4       30.7  

Liabilities

                               

Recourse fixed rate debt

  $ 2,429.9     $ 2,550.0     $ 2,627.2     $ 2,754.9  

Recourse floating rate debt

    711.5       700.1       727.6       714.8  

Nonrecourse debt

    146.3       156.4       149.4       159.3