Condensed Financial Information of Registrant

12 Months Ended

Dec. 31, 2012

Condensed Financial Information of Parent Company Only Disclosure [Abstract]

Condensed Financial Information of Registrant

SCHEDULE I — CONDENSED FINANCIAL INFORMATION OF REGISTRANT

GATX CORPORATION

(Parent Company)

BALANCE SHEETS

(In millions)

	December 31
	2012	2011
Assets
Cash and cash equivalents	183.5	208.4
Operating assets and facilities, net	2,501.7	2,355.9
Investments in affiliated companies	2,043.8	2,010.9
Other assets	440.0	478.1
Total Assets	5,169.0	5,053.3
Liabilities and Shareholders’ Equity
Accounts payable and accrued expenses	105.0	56.1
Debt	2,761.1	2,986.6
Other liabilities	1,058.7	883.3
Total Liabilities	3,924.8	3,926.0
Total Shareholders’ Equity	1,244.2	1,127.3
Total Liabilities and Shareholders’ Equity	5,169.0	5,053.3

The accompanying note is an integral part of these financial statements.

SCHEDULE I — CONDENSED FINANCIAL INFORMATION OF REGISTRANT (CONT’D)

GATX CORPORATION

(Parent Company)

STATEMENTS OF COMPREHENSIVE INCOME

(In millions)

	Year Ended December 31
	2012			2011			2010
Revenues
Lease revenue	$	504.5		$	477.7		$	458.9
Other revenue	43.5			44.4			41.0
Total Revenues	548.0			522.1			499.9
Expenses
Maintenance expense	154.8			163.9			168.7
Depreciation	122.2			117.0			110.2
Operating lease expense	91.6			95.2			101.3
Other operating expense	12.0			11.5			20.2
Selling, general and administrative expense	118.4			113.3			97.2
Total Expenses	499.0			500.9			497.6
Other Income (Expense)
Net gain on asset dispositions	59.4			44.0			27.0
Interest expense, net	(65.4		)	(72.8		)	(74.0		)
Other (expense) income	(4.4		)	(2.4		)	3.7
Income (loss) before Income Taxes and Share of Affiliates' Earnings	38.6			(10.0		)	(41.0		)
Income tax benefit	1.0			4.8			20.8
Share of affiliates' earnings (net of tax)	97.7			116.0			101.0
Net Income	$	137.3		$	110.8		$	80.8
Other Comprehensive Income, net of taxes
Foreign currency translation adjustments	25.0			(39.6		)	(28.4		)
Unrealized gain (loss) on securities	0.2			(0.2		)	1.3
Unrealized gain (loss) on derivative instruments	11.7			(0.5		)	(3.5		)
Post-retirement benefit plans	(12.4		)	(18.8		)	5.1
Other comprehensive income (loss)	24.5			(59.1		)	(25.5		)
Comprehensive Income	$	161.8		$	51.7		$	55.3

The accompanying note is an integral part of these financial statements.

SCHEDULE I — CONDENSED FINANCIAL INFORMATION OF REGISTRANT (CONT’D)

GATX CORPORATION

(Parent Company)

STATEMENTS OF CASH FLOWS

(In millions)

	Year Ended December 31
	2012			2011			2010
Operating Activities
Net cash provided by operating activities	$	269.6		$	95.0		$	92.8
Investing Activities
Capital additions	(444.6		)	(343.1		)	(417.1		)
Proceeds from sale-leasebacks	104.9			—			79.0
Portfolio proceeds and other	136.6			143.0			65.4
Purchases of leased-in assets	(1.4		)	(61.1		)	(5.3		)
Capital contributions to affiliates, net	—			(25.7		)	—
Net cash used in investing activities	(204.5		)	(286.9		)	(278.0		)
Financing Activities
Repayments of debt (original maturities longer than 90 days)	(603.7		)	(195.9		)	(286.3		)
Net increase (decrease) in debt with original maturities of 90 days or less	185.0			(89.1		)	58.6
Proceeds from issuances of debt (original maturities longer than 90 days)	381.4			701.0			493.5
Dividends	(57.7		)	(56.0		)	(53.5		)
Other	5.0			(8.6		)	(6.3		)
Net cash (used in) provided by financing activities	(90.0		)	351.4			206.0
Net (decrease) increase in cash and cash equivalents during the period	(24.9		)	159.5			20.8
Cash and Cash Equivalents at beginning of period	208.4			48.9			28.1
Cash and Cash Equivalents at end of period	$	183.5		$	208.4		$	48.9
Total Distributions from Affiliates	$	101.0		$	—		$	57.3

The accompanying note is an integral part of these financial statements.

Note to Condensed Financial Statements

Basis of Presentation

The condensed financial statements represent the Balance Sheets, Statements of Comprehensive Income and Cash Flows of GATX Corporation (“GATX” or the “Company”), the parent company. In these parent company financial statements, GATX’s investment in subsidiaries and joint ventures (collectively "Affiliates") is stated at cost plus equity in undistributed earnings since the date of acquisition. The Company’s share of net income from Affiliates is recorded using the equity method. GATX’s parent company financial statements should be read in conjunction with its consolidated financial statements.