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Financial Statements for Guarantors of the Senior Notes (Tables)
 3 Months Ended
Mar. 31, 2015
Financial Statements for Guarantors of the Senior Notes [Abstract]  
Statements of Operations and Comprehensive Income
Statement of Operations and Comprehensive Income
 
 
 
 
 
 
 
 
 
Three Months Ended March 31, 2015
 
 
 
 
 
 
 
 
 
 
Parent
 
Combined
Guarantor
Subsidiaries
 
Combined
Non-Guarantor
Subsidiaries
 
Eliminations
 
Consolidated
Revenues
$
—

 
$
1,300.6

 
$
559.6

 
$
(233.5
)
 
$
1,626.7

Cost of revenues
(0.8
)
 
1,038.7

 
410.5

 
(237.3
)
 
1,211.1

Selling, engineering, and administrative expenses
25.4

 
43.8

 
29.1

 
—

 
98.3

Gains/(losses) on disposition of property, plant, and equipment
0.2

 
(0.1
)
 
15.7

 
—

 
15.8

 
24.4

 
1,082.6

 
423.9

 
(237.3
)
 
1,293.6

Operating profit (loss)
(24.4
)
 
218.0

 
135.7

 
3.8

 
333.1

Other (income) expense
4.3

 
7.7

 
36.7

 
—

 
48.7

Equity in earnings of subsidiaries, net of taxes
196.8

 
68.3

 
—

 
(265.1
)
 
—

Income (loss) before income taxes
168.1

 
278.6

 
99.0

 
(261.3
)
 
284.4

Provision (benefit) for income taxes
(12.1
)
 
96.9

 
9.3

 
1.3

 
95.4

Net income (loss)
180.2

 
181.7

 
89.7

 
(262.6
)
 
189.0

Net income (loss) attributable to noncontrolling interest
—

 
—

 
—

 
8.8

 
8.8

Net income (loss) attributable to controlling interest
$
180.2

 
$
181.7

 
$
89.7

 
$
(271.4
)
 
$
180.2


 
 
 
 
 
 
 
 
 
Net income (loss)
$
180.2

 
$
181.7

 
$
89.7

 
$
(262.6
)
 
$
189.0

Other comprehensive income (loss)
1.2

 
(0.5
)
 
(0.2
)
 
—

 
0.5

Comprehensive income
$
181.4

 
$
181.2

 
$
89.5

 
$
(262.6
)
 
$
189.5


Statement of Operations and Comprehensive Income
 
 
 
 
 
 
 
 
 
Three Months Ended March 31, 2014
 
 
 
 
 
 
 
 
 
 
Parent
 
Combined
Guarantor
Subsidiaries
 
Combined
Non-Guarantor
Subsidiaries
 
Eliminations
 
Consolidated
Revenues
$
—

 
$
1,139.6

 
$
506.8

 
$
(185.9
)
 
$
1,460.5

Cost of revenues
0.4

 
856.5

 
400.8

 
(183.7
)
 
1,074.0

Selling, engineering, and administrative expenses
22.0

 
31.4

 
30.2

 
—

 
83.6

Gains/(losses) on disposition of property, plant, and equipment
(0.3
)
 
34.3

 
54.4

 
—

 
88.4

 
22.7

 
853.6

 
376.6

 
(183.7
)
 
1,069.2

Operating profit (loss)
(22.7
)
 
286.0

 
130.2

 
(2.2
)
 
391.3

Other (income) expense
3.8

 
5.6

 
36.4

 
—

 
45.8

Equity in earnings of subsidiaries, net of taxes
252.4

 
68.1

 
—

 
(320.5
)
 
—

Income (loss) before income taxes
225.9

 
348.5

 
93.8

 
(322.7
)
 
345.5

Provision (benefit) for income taxes
(0.5
)
 
106.2

 
8.8

 
(2.0
)
 
112.5

Net income (loss)
226.4

 
242.3

 
85.0

 
(320.7
)
 
233.0

Net income (loss) attributable to noncontrolling interest
—

 
—

 
—

 
6.6

 
6.6

Net income (loss) attributable to controlling interest
$
226.4

 
$
242.3

 
$
85.0

 
$
(327.3
)
 
$
226.4


 
 
 
 
 
 
 
 
 
Net income (loss)
$
226.4

 
$
242.3

 
$
85.0

 
$
(320.7
)
 
$
233.0

Other comprehensive income (loss)
0.6

 
—

 
2.7

 
—

 
3.3

Comprehensive income
$
227.0

 
$
242.3

 
$
87.7

 
$
(320.7
)
 
$
236.3
Balance Sheets
Balance Sheet
 
 
 
 
 
 
 
 
 
December 31, 2014
 
 
 
 
 
 
 
 
 
 
Parent
 
Combined
Guarantor
Subsidiaries
 
Combined
Non-Guarantor
Subsidiaries
 
Eliminations
 
Consolidated
Assets:
 
 
 
 
 
 
 
 
 
Cash and cash equivalents
$
827.7

 
$
11.1

 
$
89.4

 
$
(40.3
)
 
$
887.9

Short-term marketable securities
75.0

 
—

 
—

 
—

 
75.0

Receivables, net of allowance
—

 
226.5

 
179.2

 
(0.4
)
 
405.3

Income tax receivable
58.6

 
—

 
—

 
—

 
58.6

Inventory
—

 
878.3

 
208.1

 
(18.0
)
 
1,068.4

Property, plant, and equipment, net
29.3

 
843.8

 
4,594.1

 
(564.3
)
 
4,902.9

Investments in and advances to subsidiaries
4,431.1

 
3,435.2

 
3.0

 
(7,869.3
)
 
—

Restricted cash
—

 
—

 
194.4

 
40.3

 
234.7

Goodwill and other assets
180.6

 
610.9

 
339.7

 
(30.2
)
 
1,101.0

 
$
5,602.3

 
$
6,005.8

 
$
5,607.9

 
$
(8,482.2
)
 
$
8,733.8

Liabilities:
 
 
 
 
 
 
 
 
 
Accounts payable
$
15.0

 
$
174.4

 
$
106.6

 
$
(0.6
)
 
$
295.4

Accrued liabilities
235.8

 
300.1

 
173.7

 
—

 
709.6

Debt
789.5

 
39.1

 
2,724.4

 
—

 
3,553.0

Deferred income
—

 
34.5

 
1.9

 
—

 
36.4

Deferred income taxes
—

 
636.9

 
9.3

 
(13.6
)
 
632.6

Advances from subsidiaries
1,072.0

 
—

 
—

 
(1,072.0
)
 
—

Other liabilities
92.6

 
13.7

 
3.1

 
—

 
109.4

Total stockholders' equity
3,397.4

 
4,807.1

 
2,588.9

 
(7,396.0
)
 
3,397.4

 
$
5,602.3

 
$
6,005.8

 
$
5,607.9

 
$
(8,482.2
)
 
$
8,733.8
Statements of Cash Flows
Statement of Cash Flows
 
 
 
 
 
 
 
 
 
Three Months Ended March 31, 2015
 
 
 
 
 
 
 
 
 
 
Parent
 
Combined
Guarantor
Subsidiaries
 
Combined
Non-Guarantor
Subsidiaries
 
Eliminations
 
Consolidated
Operating activities:
 
 
 
 
 
 
 
 
 
Net income
$
180.2

 
$
181.7

 
$
89.7

 
$
(262.6
)
 
$
189.0

Equity in earnings of subsidiaries, net of taxes
(196.8
)
 
(68.3
)
 
—

 
265.1

 
—

Other
81.8

 
(181.7
)
 
35.7

 
(15.4
)
 
(79.6
)
Net cash provided (required) by operating activities
65.2

 
(68.3
)
 
125.4

 
(12.9
)
 
109.4

 
 
 
 
 
 
 
 
 
 
Investing activities:
 
 
 
 
 
 
 
 
 
(Increase) decrease in short-term marketable securities
(25.0
)
 
—

 
—

 
—

 
(25.0
)
Proceeds from railcar lease fleet sales
—

 
15.7

 
78.2

 
(15.4
)
 
78.5

Proceeds from disposition of property, plant, equipment, and other assets
—

 
—

 
1.6

 
—

 
1.6

Capital expenditures – leasing
—

 
(290.0
)
 
(8.8
)
 
15.4

 
(283.4
)
Capital expenditures – manufacturing and other
(1.8
)
 
(11.5
)
 
(40.2
)
 
—

 
(53.5
)
Acquisitions, net of cash acquired
—

 
—

 
(45.5
)
 
—

 
(45.5
)
(Increase) decrease in investment in partially-owned subsidiaries
—

 
7.2

 
—

 
(7.2
)
 
—

Other
—

 
0.7

 
3.5

 
—

 
4.2

Net cash provided (required) by investing activities
(26.8
)
 
(277.9
)
 
(11.2
)
 
(7.2
)
 
(323.1
)
 
 
 
 
 
 
 
 
 
 
Financing activities:
 
 
 
 
 
 
 
 
 
Proceeds from issuance of common stock, net
—

 
—

 
—

 
—

 
—

Excess tax benefits from stock-based compensation
0.4

 
—

 
—

 
—

 
0.4

Payments to retire debt
—

 
(0.8
)
 
(70.1
)
 
—

 
(70.9
)
(Increase) decrease in restricted cash
—

 
—

 
29.8

 
3.2

 
33.0

Shares repurchased
(18.0
)
 
—

 
—

 
—

 
(18.0
)
Dividends paid to common shareholders
(15.6
)
 
—

 
—

 
—

 
(15.6
)
Purchase of shares to satisfy employee tax on vested stock
(0.4
)
 
—

 
—

 
—

 
(0.4
)
Distributions to noncontrolling interest
—

 
—

 
(11.3
)
 
—

 
(11.3
)
Distributions to controlling interest in partially-owned subsidiaries
—

 
—

 
(7.2
)
 
7.2

 
—

Change in intercompany financing between entities
(284.0
)
 
339.0

 
(67.9
)
 
12.9

 
—

Other
—

 
(0.7
)
 
—

 
—

 
(0.7
)
Net cash provided (required) by financing activities
(317.6
)
 
337.5

 
(126.7
)
 
23.3

 
(83.5
)
 
 
 
 
 
 
 
 
 
 
Net increase (decrease) in cash and cash equivalents
(279.2
)
 
(8.7
)
 
(12.5
)
 
3.2

 
(297.2
)
Cash and cash equivalents at beginning of period
827.7

 
11.1

 
89.4

 
(40.3
)
 
887.9

Cash and cash equivalents at end of period
$
548.5

 
$
2.4

 
$
76.9

 
$
(37.1
)
 
$
590.7

Statement of Cash Flows
 
 
 
 
 
 
 
 
 
Three Months Ended March 31, 2014
 
 
 
 
 
 
 
 
 
 
Parent
 
Combined
Guarantor
Subsidiaries
 
Combined
Non-Guarantor
Subsidiaries
 
Eliminations
 
Consolidated
Operating activities:
 
 
 
 
 
 
 
 
 
Net income
$
226.4

 
$
242.3

 
$
85.0

 
$
(320.7
)
 
$
233.0

Equity in earnings of subsidiaries, net of taxes
(252.4
)
 
(68.1
)
 
—

 
320.5

 
—

Other
86.0

 
(89.0
)
 
(22.1
)
 
(2.6
)
 
(27.7
)
Net cash provided (required) by operating activities
60.0

 
85.2

 
62.9

 
(2.8
)
 
205.3

 
 
 
 
 
 
 
 
 
 
Investing activities:
 
 
 
 
 
 
 
 
 
(Increase) decrease in short-term marketable securities
(106.7
)
 
—

 
—

 
—

 
(106.7
)
Proceeds from railcar lease fleet sales
—

 
146.0

 
109.7

 
(31.4
)
 
224.3

Proceeds from disposition of property, plant, equipment, and other assets
0.4

 
—

 
16.8

 
—

 
17.2

Capital expenditures – leasing
—

 
1.9

 
(32.9
)
 
31.4

 
0.4

Capital expenditures – manufacturing and other
(3.3
)
 
(7.6
)
 
(38.2
)
 
—

 
(49.1
)
Acquisitions, net of cash acquired
—

 
—

 
(112.6
)
 
—

 
(112.6
)
(Increase) decrease in investment in partially-owned subsidiaries
—

 
3.3

 
—

 
(3.3
)
 
—

Other
1.0

 
(1.0
)
 
2.9

 
—

 
2.9

Net cash provided (required) by investing activities
(108.6
)
 
142.6

 
(54.3
)
 
(3.3
)
 
(23.6
)
 
 
 
 
 
 
 
 
 
 
Financing activities:
 
 
 
 
 
 
 
 
 
Proceeds from issuance of common stock, net
0.3

 
—

 
—

 
—

 
0.3

Excess tax benefits from stock-based compensation
0.4

 
—

 
—

 
—

 
0.4

Payments to retire debt
—

 
(0.8
)
 
(52.3
)
 
—

 
(53.1
)
(Increase) decrease in restricted cash
—

 
—

 
6.7

 
(2.4
)
 
4.3

Shares repurchased
(12.5
)
 
—

 
—

 
—

 
(12.5
)
Dividends paid to common shareholders
(11.6
)
 
—

 
—

 
—

 
(11.6
)
Purchase of shares to satisfy employee tax on vested stock
(0.1
)
 
—

 
—

 
—

 
(0.1
)
Distributions to noncontrolling interest
—

 
—

 
(5.4
)
 
—

 
(5.4
)
Distributions to controlling interest in partially-owned subsidiaries
—

 
—

 
(3.3
)
 
3.3

 
—

Change in intercompany financing between entities
173.4

 
(228.1
)
 
51.9

 
2.8

 
—

Other
—

 
(0.3
)
 
—

 
—

 
(0.3
)
Net cash provided (required) by financing activities
149.9

 
(229.2
)
 
(2.4
)
 
3.7

 
(78.0
)
 
 
 
 
 
 
 
 
 
 
Net increase (decrease) in cash and cash equivalents
101.3

 
(1.4
)
 
6.2

 
(2.4
)
 
103.7

Cash and cash equivalents at beginning of period
409.8

 
2.1

 
44.0

 
(27.4
)
 
428.5

Cash and cash equivalents at end of period
$
511.1

 
$
0.7

 
$
50.2

 
$
(29.8
)
 
$
532.2