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Consolidated Statements of Cash Flows (unaudited) (USD $)
In Millions, unless otherwise specified
9 Months Ended
Sep. 30, 2014
Sep. 30, 2013
Operating activities:    
Net income $ 563.0 $ 273.1
Adjustments to reconcile net income to net cash provided by operating activities:    
Income from discontinued operations (0.1) (5.9)
Depreciation and amortization 171.5 156.2
Stock-based compensation expense 38.1 31.1
Excess tax benefits from stock-based compensation (24.2) (8.1)
Benefit for deferred income taxes (61.2) (41.9)
Net gains on railcar lease fleet sales owned more than one year at the time of sale (90.2) (9.6)
Gains on disposition of property, plant, equipment, and other assets (13.2) (0.3)
Non-cash interest expense 22.4 23.7
Other (4.4) (5.8)
Changes in assets and liabilities:    
(Increase) decrease in receivables (155.5) (112.3)
(Increase) decrease in inventories (226.3) (72.2)
(Increase) decrease in restricted cash 25.0 0
(Increase) decrease in other assets (34.2) (48.6)
Increase (decrease) in accounts payable 89.0 19.7
Increase (decrease) in accrued liabilities 28.7 123.8
Increase (decrease) in other liabilities 3.4 45.6
Net cash provided by operating activities - continuing operations 331.8 368.5
Net cash provided by operating activities - discontinued operations 0.8 6.2
Net cash provided by operating activities 332.6 374.7
Investing activities:    
(Increase) decrease in short-term marketable securities 149.7 (96.0)
Proceeds from railcar lease fleet sales owned more than one year at the time of sale 257.4 59.3
Proceeds from disposition of property, plant, equipment, and other assets 21.9 1.1
Capital expenditures – leasing, net of sold lease fleet railcars owned one year or less with a net cost of $295.4 and $15.5 (170.4) (455.5)
Capital expenditures – manufacturing and other (170.0) (91.2)
Acquisitions, net of cash acquired (711.8) (37.2)
Other 2.0 (9.4)
Net cash required by investing activities - continuing operations (621.2) (628.9)
Net cash provided by investing activities - discontinued operations 0 0.4
Net cash required by investing activities (621.2) (628.5)
Financing activities:    
Proceeds from issuance of common stock, net 0.6 2.1
Excess tax benefits from stock-based compensation 24.2 8.1
Payments to retire debt (140.2) (227.5)
Proceeds from issuance of debt 727.4 175.4
(Increase) decrease in restricted cash (2.2) (26.1)
Shares repurchased (36.5) (71.1)
Dividends paid to common shareholders (38.7) (27.5)
Purchase of shares to satisfy employee tax on vested stock (38.5) (9.1)
Proceeds from sale of interests in partially-owned leasing subsidiaries 0 296.7
Repurchase of noncontrolling interests in partially-owned leasing subsidiary 0 (84.0)
Contributions from noncontrolling interest 49.6 50.0
Distributions to noncontrolling interest (19.3) (3.3)
Other (1.3) 0.7
Net cash provided by financing activities - continuing operations 525.1 84.4
Net cash required by financing activities - discontinued operations (1.3) (1.0)
Net cash provided by financing activities 523.8 83.4
Net increase (decrease) in cash and cash equivalents 235.2 (170.4)
Cash and cash equivalents at beginning of period 428.5 573.0
Cash and cash equivalents at end of period $ 663.7 [1] $ 402.6
[1] (unaudited)