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Consolidated Statements of Cash Flows (unaudited) - USD ($)
$ in Millions
9 Months Ended
Sep. 30, 2019
Sep. 30, 2018
Operating activities:    
Net income $ 114.6 $ 135.4
Income (Loss) from Discontinued Operations, Net of Tax, Attributable to Parent (2.3) 54.4
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 210.5 184.3
Stock-based compensation expense 21.4 21.8
Provision for deferred income taxes 38.5 36.4
Net gains on railcar lease fleet sales owned more than one year at the time of sale (44.7) (21.0)
Gains on dispositions of property and other assets (2.5) (3.1)
Non-cash interest expense 10.4 15.0
Other (4.3) (1.3)
Changes in operating assets and liabilities:    
(Increase) decrease in receivables (8.8) (34.4)
(Increase) decrease in inventories (108.2) (78.5)
(Increase) decrease in other assets (68.6) (56.5)
Increase (decrease) in accounts payable 38.7 39.2
Increase (decrease) in accrued liabilities (28.8) (2.8)
Increase (decrease) in other liabilities (6.5) (0.6)
Net Cash Provided by (Used in) Operating Activities, Continuing Operations 164.0 179.5
Cash Provided by (Used in) Operating Activities, Discontinued Operations 0.0 140.4
Net cash provided (required) by operating activities 164.0 319.9
Investing activities:    
Decrease in short-term marketable securities 0.0 319.5
Proceeds from dispositions of property and other assets 19.5 6.9
Proceeds from railcar lease fleet sales owned more than one year at the time of sale 175.0 123.4
Payments to Acquire Leasing Assets Net of Sold Railcars Owned One Year or Less 854.3 675.8
Capital expenditures – manufacturing and other (63.3) (30.0)
Other (0.2) (1.9)
Net Cash Provided by (Used in) Investing Activities, Continuing Operations (723.3) (257.9)
Cash Provided by (Used in) Investing Activities, Discontinued Operations 0.0 (53.1)
Net cash provided (required) by investing activities (723.3) (311.0)
Financing activities:    
Payments to retire debt (1,360.8) (738.9)
Proceeds from issuance of debt 2,010.2 561.3
Shares repurchased (154.9) (156.1)
Dividends paid to common shareholders (60.8) (58.1)
Purchase of shares to satisfy employee tax on vested stock (8.0) (11.5)
Distributions to noncontrolling interest (2.1) (10.3)
Other 0.0 (3.2)
Net cash provided (required) by financing activities 423.6 (416.8)
Net decrease in cash, cash equivalents, and restricted cash (135.7) (407.9)
Cash, cash equivalents, and restricted cash at beginning of period 350.8 973.8
Cash, cash equivalents, and restricted cash at end of period $ 215.1 $ 565.9