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Consolidated Statements of Cash Flows (unaudited) - USD ($)
$ in Millions
3 Months Ended
Mar. 31, 2019
Mar. 31, 2018
Operating activities:    
Net income $ 30.1 $ 41.6
Income (Loss) from Discontinued Operations, Net of Tax, Attributable to Parent (1.1) 26.4
Adjustments to reconcile net income to net cash (used in) provided by operating activities:    
Depreciation and amortization 67.5 58.2
Stock-based compensation expense 5.5 6.2
Provision for deferred income taxes 9.7 4.9
Net gains on railcar lease fleet sales owned more than one year at the time of sale (7.9) (2.1)
Gains on dispositions of property and other assets (2.1) (0.1)
Non-cash interest expense 3.6 7.4
Other (1.1) 1.1
Changes in operating assets and liabilities:    
(Increase) decrease in receivables (69.1) 13.9
(Increase) decrease in inventories (93.7) (2.2)
(Increase) decrease in other assets 4.3 (4.7)
Increase (decrease) in accounts payable (14.8) 8.3
Increase (decrease) in accrued liabilities (52.8) (34.5)
Increase (decrease) in other liabilities (6.2) 2.2
Net Cash Provided by (Used in) Operating Activities, Continuing Operations (125.9) 73.8
Cash Provided by (Used in) Operating Activities, Discontinued Operations 0.0 99.9
Net cash provided (required) by operating activities (125.9) 173.7
Investing activities:    
(Increase) decrease in short-term marketable securities 0.0 98.7
Proceeds from dispositions of property and other assets 7.3 1.9
Proceeds from railcar lease fleet sales owned more than one year at the time of sale 29.4 15.5
Capital expenditures – leasing, net of sold lease fleet railcars owned one year or less with a net cost of $12.5 and $0 (465.0) (318.2)
Capital expenditures – manufacturing and other (11.5) (8.2)
Other 1.3 0.8
Net Cash Provided by (Used in) Investing Activities, Continuing Operations (438.5) (209.5)
Cash Provided by (Used in) Investing Activities, Discontinued Operations 0.0 (32.0)
Net cash provided (required) by investing activities (438.5) (241.5)
Financing activities:    
Payments to retire debt (214.8) (26.5)
Proceeds from issuance of debt 649.7 0.9
Shares repurchased (15.0) (49.3)
Dividends paid to common shareholders (17.3) (19.5)
Purchase of shares to satisfy employee tax on vested stock (0.5) (0.1)
Distributions to noncontrolling interest (0.4) (5.8)
Other 0.0 (3.0)
Net cash provided (required) by financing activities 401.7 (103.3)
Net decrease in cash, cash equivalents, and restricted cash (162.7) (171.1)
Cash, cash equivalents, and restricted cash at beginning of period 350.8 973.8
Cash, cash equivalents, and restricted cash at end of period $ 188.1 $ 802.7