Property, Plant, and Equipment

9 Months Ended

Sep. 30, 2024

Property, Plant and Equipment [Abstract]

Property, Plant, and Equipment

Property, Plant, and Equipment

The following table summarizes the components of property, plant, and equipment:

	September 30, 2024		December 31, 2023
	(in millions)
Railcars in our lease fleet:
Wholly-owned subsidiaries:
Equipment on lease	$	7,612.6	$	7,536.7
Less: accumulated depreciation	(1,734.5)		(1,604.9)
	5,878.1		5,931.8
Partially-owned subsidiaries:
Equipment on lease	2,236.8		2,236.6
Less: accumulated depreciation	(804.8)		(763.4)
	1,432.0		1,473.2
Deferred profit on railcar products sold (1)	(1,059.0)		(1,061.3)
Less: accumulated amortization	331.6		311.1
	(727.4)		(750.2)
Total railcars in our lease fleet	6,582.7		6,654.8
Operating and administrative assets:
Land	16.3		16.1
Buildings and improvements	392.5		380.4
Machinery and other	429.4		419.8
Construction in progress	14.4		11.3
	852.6		827.6
Less: accumulated depreciation	(506.7)		(477.6)
Total operating and administrative assets	345.9		350.0
Total property, plant, and equipment, net	$	6,928.6	$	7,004.8

(1) Includes deferred profit related to new railcar additions, sustainable railcar conversions, railcar modifications, and other betterments. The deferred profit is subsequently eliminated in consolidation.