GATX (GATX) 10-Q 29 Apr 14 2014 Q1 Quarterly report Financial data

Document_and_Entity_Informatio

Document and Entity Information	3 Months Ended
In Millions, unless otherwise specified	Mar. 31, 2014
Document and Entity Information [Abstract]	'
Entity Registrant Name	'GATX Corporation
Entity Central Index Key	'0000040211
Document Type	'10-Q
Document Period End Date	31-Mar-14
Amendment Flag	'false
Document Fiscal Year Focus	'2014
Document Fiscal Period Focus	'Q1
Current Fiscal Year End Date	'--12-31
Entity Well-known Seasoned Issuer	'Yes
Entity Voluntary Filers	'No
Entity Current Reporting Status	'Yes
Entity Filer Category	'Large Accelerated Filer
Entity Common Stock, Shares Outstanding	46

Consolidated_Balance_Sheets

Consolidated Balance Sheets (USD $)	Mar. 31, 2014	Dec. 31, 2013
In Millions, unless otherwise specified
Assets	'	'
Cash and Cash Equivalents	$447	$379.70
Restricted Cash	14.8	20.3
Receivables	'	'
Rent and other receivables	54.2	80.1
Loans	121.4	122.7
Finance leases	200.5	207.3
Less: allowance for losses	-5.2	-5.2
Receivables, net	370.9	404.9
Operating Assets and Facilities	'	'
Operating Assets and Facilities ($123.2 and $123.3 related to a consolidated VIE)	7,958.70	7,390.70
Less: allowance for depreciation ($31.4 and $30.3 related to a consolidated VIE)	-2,358.90	-2,320.40
Operating assets and facilities, net	5,599.80	5,070.30
Investments in Affiliated Companies	348.5	354.3
Goodwill	94.7	94.6
Other Assets	243.3	225.5
Total Assets	7,119	6,549.60
Liabilities and Shareholders’ Equity	'	'
Accounts Payable and Accrued Expenses	171.5	159.6
Debt	'	'
Commercial paper and borrowings under bank credit facilities	38.2	23.6
Recourse	4,310	3,765.90
Nonrecourse ($23.0 and $25.4 related to a consolidated VIE)	-70.1	-72.6
Capital lease obligations	7.6	8.9
Total Debt	4,425.90	3,871
Deferred Income Taxes	909.4	891.4
Other Liabilities	189	230.6
Total Liabilities	5,695.80	5,152.60
Shareholders’ Equity	'	'
Common stock, $0.625 par value: Authorized shares — 120,000,000 Issued shares — 66,529,703 and 66,349,906 Outstanding shares — 46,048,495 and 45,868,698	-41.4	-41.3
Additional paid in capital	-666.2	-668.9
Retained earnings	1,384.60	1,358.40
Accumulated other comprehensive loss	40.1	42.7
Treasury stock at cost (20,481,208 shares)	-628.9	-628.9
Total Shareholders’ Equity	1,423.20	1,397
Total Liabilities and Shareholders’ Equity	$7,119	$6,549.60

Consolidated_Balance_Sheets_Pa

Consolidated Balance Sheets (Parenthetical) (USD $)	Mar. 31, 2014	Dec. 31, 2013
In Millions, except Share data, unless otherwise specified
Operating Assets and Facilities ($123.2 and $123.3 related to a consolidated VIE)	$7,958.70	$7,390.70
Less: allowance for depreciation ($31.4 and $30.3 related to a consolidated VIE)	-2,358.90	-2,320.40
Nonrecourse ($23.0 and $25.4 related to a consolidated VIE)	-70.1	-72.6
Common stock, par value	$0.63	$0.63
Common stock, shares authorized	120,000,000	120,000,000
Common stock, shares issued	66,529,703	66,349,906
Common stock, shares outstanding	46,048,495	45,868,698
Treasury stock, shares outstanding	20,481,208	20,118,120
Variable Interest Entity, Primary Beneficiary [Member]	'	'
Operating Assets and Facilities ($123.2 and $123.3 related to a consolidated VIE)	123.2	123.3
Less: allowance for depreciation ($31.4 and $30.3 related to a consolidated VIE)	-31.4	-30.3
Nonrecourse ($23.0 and $25.4 related to a consolidated VIE)	($23)	($25.40)

Consolidated_Statements_of_Com

Consolidated Statements of Comprehensive Income (USD $)	3 Months Ended
In Millions, except Per Share data, unless otherwise specified	Mar. 31, 2014	Mar. 31, 2013
Revenues	'	'
Lease revenue	$250.60	$237.20
Marine operating revenue	17.7	18.5
Other revenue	18.3	16.6
Total Revenues	286.6	272.3
Expenses	'	'
Maintenance expense	73.1	66.7
Marine operating expense	15	16.6
Depreciation	58.7	57.9
Operating lease expense	26.9	32.3
Other operating expense	6.6	5.3
Selling, general and administrative	42.7	42
Total Expenses	223	220.8
Other Income (Expense)	'	'
Net gain on asset dispositions	28.1	16.7
Interest expense, net	-42	-40.9
Other (expense) income	-3.4	-1.1
Income before Income Taxes and Share of Affiliates’ Earnings	46.3	26.2
Income Taxes	-14.1	-7.5
Share of Affiliates’ Earnings (net of tax)	9.9	8.4
Net Income	42.1	27.1
Other Comprehensive Income, net of taxes	'	'
Foreign currency translation adjustments	-0.7	17
Unrealized gain (loss) on securities	0.2	-0.1
Unrealized gain (loss) on derivative instruments	-0.7	-1.5
Post-retirement benefit plans	1.4	2
Other comprehensive income (loss)	2.6	-13.4
Comprehensive Income	$44.70	$13.70
Share Data	'	'
Basic earnings per share (in dollars per share)	$0.92	$0.58
Average number of common shares (in shares)	46	46.9
Diluted earnings per share (in dollars per share)	$0.90	$0.57
Average number of common shares and common share equivalents (in shares)	46.8	47.7
Dividends declared per common share (in dollars per share)	$0.33	$0.31

Consolidated_Statements_of_Cas

Consolidated Statements of Cash Flows (USD $)	3 Months Ended
In Millions, unless otherwise specified	Mar. 31, 2014	Mar. 31, 2013
	railcar	railcar
Number of railcars received	62	182
Noncash or Part Noncash Acquisition, Value of Assets Acquired	$1.10	$1.80
Operating Activities	'	'
Net income	42.1	27.1
Depreciation, Nonproduction	62.1	60.9
Adjustments to reconcile income to net cash provided by operating activities:	'	'
Gains on sales of assets	-26.9	-13.8
Change in Accrued Operating Lease Expense	-39.8	-46
Asset impairment charges	-0.3	-0.9
Deferred income taxes	-11	-4.3
Share of affiliates’ earnings, net of dividends	1.9	-7.9
Other Operating Activities, Cash Flow Statement	1	-0.4
Net cash provided by operating activities	51.4	24.2
Investing Activities	'	'
Additions to operating assets and facilities	-445.5	-141.4
Loans extended	0	-8.5
Portfolio investments and capital additions	-445.5	-149.9
Purchases of leased-in assets	-150.5	-11.3
Portfolio proceeds	-66.6	-64.5
Proceeds from sales of other assets	-7	-8.7
Net decrease (increase) in restricted cash	5.5	2.8
Payments for (Proceeds from) Other Investing Activities	0	-0.1
Net cash used in investing activities	-516.9	-85.3
Financing Activities	'	'
Net proceeds from issuances of debt (original maturities longer than 90 days)	842.5	597.9
Repayments of debt (original maturities longer than 90 days)	-307.1	-264.9
Net increase (decrease) in debt with original maturities of 90 days or less	-14.5	149.7
Payments for Repurchase of Common Stock	0	-18.3
Dividends	-16.9	-16.3
Proceeds from (Payments for) Other Financing Activities	-1.2	-0.3
Net cash (used in) provided by financing activities	-531.8	-148.4
Effect of Exchange Rate Changes on Cash and Cash Equivalents	1	-0.4
Net (decrease) increase in Cash and Cash Equivalents during the period	67.3	86.9
Cash and Cash Equivalents at beginning of period	379.7	234.2
Cash and Cash Equivalents at end of period	$447	$321.10

Description_of_Business

Description of Business	3 Months Ended
	Mar. 31, 2014
Organization, Consolidation and Presentation of Financial Statements [Abstract]	'
Description of Business	'
	Description of Business
	As used herein, "GATX," "we," "us," "our," and similar terms refer to GATX Corporation and its subsidiaries, unless indicated otherwise.
	We lease, operate, manage, and remarket long-lived, widely-used assets, primarily in the rail and marine markets. We also invest in joint ventures that complement our existing business activities. We report our financial results through four primary business segments: Rail North America, Rail International, American Steamship Company (“ASC”), and Portfolio Management.

Basis_of_Presentation

Basis of Presentation	3 Months Ended
	Mar. 31, 2014
Accounting Changes and Error Corrections [Abstract]	'
Change in Accounting Estimate, Description	'Change in Accounting EstimateDuring the first quarter of 2014, we completed a review of the estimated useful lives used for our North American railcar fleet and determined that the economic service life of many of our railcars differed from the useful life currently used to calculate depreciation. As a result, effective January 1, 2014, we revised the estimated useful lives from a range of 30-38 years to a range of 27-42 years. In aggregate, the average depreciable life of the fleet increased approximately 2.2 years. The impact of these implemented changes on depreciation expense for affected assets in the first quarter of 2014 is a net decrease in depreciation expense of approximately $5.5 million and an increase in net income of $3.5 million, or $0.08 per diluted share. The full year impact for 2014 for affected assets is expected to be a decrease in depreciation expense of approximately $21.9 million and an increase in net income of $14.0 million, or approximately $0.30 per diluted share.
Basis of Presentation	'
	Basis of Presentation
	We prepared the accompanying unaudited consolidated financial statements in accordance with US Generally Accepted Accounting Principles ("GAAP") for interim financial information and the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, our unaudited consolidated financial statements do not include all of the information and footnotes required for complete financial statements. We have included all of the normal recurring adjustments that we deemed necessary for a fair presentation.
	Operating results for the three months ended March 31, 2014, are not necessarily indicative of the results we may achieve for the entire year ending December 31, 2014. In particular, ASC's fleet is inactive for a significant portion of the first quarter of each year due to winter conditions on the Great Lakes. In addition, asset remarketing income does not occur evenly throughout the year. For more information, refer to the consolidated financial statements and footnotes in our Annual Report on Form 10-K for the year ended December 31, 2013.
	Change in Accounting Estimate
	During the first quarter of 2014, we completed a review of the estimated useful lives used for our North American railcar fleet and determined that the economic service life of many of our railcars differed from the useful life currently used to calculate depreciation. As a result, effective January 1, 2014, we revised the estimated useful lives from a range of 30-38 years to a range of 27-42 years. In aggregate, the average depreciable life of the fleet increased approximately 2.2 years. The impact of these implemented changes on depreciation expense for affected assets in the first quarter of 2014 is a net decrease in depreciation expense of approximately $5.5 million and an increase in net income of $3.5 million, or $0.08 per diluted share. The full year impact for 2014 for affected assets is expected to be a decrease in depreciation expense of approximately $21.9 million and an increase in net income of $14.0 million, or approximately $0.30 per diluted share.

Variable_Interest_Entities

Variable Interest Entities	3 Months Ended
	Mar. 31, 2014
Variable Interest Entity, Not Primary Beneficiary, Disclosures [Abstract]	'
Variable Interest Entities	'
	We are the primary beneficiary of one of our variable interest entities, a structured lease financing of a portfolio of railcars, because we have the power to direct its significant activities. As a result, we consolidate this variable interest entity. The risks associated with it are similar to those of our wholly owned railcar leasing activities.
	The following table shows the carrying amounts of assets and liabilities of the consolidated variable interest entity (in millions):
		March 31 2014		December 31 2013
	Operating assets, net of accumulated depreciation (1)	$	91.8	$	93
	Nonrecourse debt	23		25.4
	_________
	-1	All operating assets are pledged as collateral on the nonrecourse debt.
	We determined that we are not the primary beneficiary of our other variable interest entities, which are primarily investments in railcar and equipment leasing affiliates that were financed through a variety of equity investments and third party lending arrangements. We are not the primary beneficiary of these variable interest entities because we do not have the power to direct the activities that most significantly impact the entities’ economic performance. For investments in affiliates we determined were variable interest entities, we concluded that power was shared by the affiliate partners based on the terms of the relevant joint venture agreements, which require approval of all partners for significant decisions regarding the variable interest entity.
	The following table shows the carrying amounts and maximum exposure to loss for our unconsolidated variable interest entities (in millions):
		March 31, 2014				31-Dec-13
		Net Carrying Amount		Maximum Exposure to Loss		Net Carrying Amount		Maximum Exposure to Loss
	Investments in affiliates	$	129.4	$	129.4	$	125.5	$	125.5
	Other investment	0.6		0.6		0.6		0.6
	Total	$	130	$	130	$	126.1	$	126.1

Fair_Value_Disclosure

Fair Value Disclosure	3 Months Ended
	Mar. 31, 2014
Fair Value Disclosures [Abstract]	'
Fair Value Disclosure	'
	Fair Value Disclosure
	The following tables show our assets and liabilities that are measured at fair value on a recurring basis (in millions):
	Assets	31-Mar-14			Quoted Prices in Active Markets for Identical Assets			Significant Observable Inputs		Significant Unobservable Inputs
					(Level 1)			(Level 2)		(Level 3)
	Interest rate derivatives (1)	$	4.8		$	—		$	4.8	$	—
	Available-for-sale equity securities	4.2			4.2			—		—
	Liabilities
	Interest rate derivatives (1)	3.1			—			3.1		—
	Interest rate derivatives (2)	0.2			—			0.2		—
	Foreign exchange rate derivatives (2)	2.6			—			2.6		—
	Assets	31-Dec-13			Quoted Prices in Active Markets for Identical Assets			Significant Observable Inputs		Significant Unobservable Inputs
					(Level 1)			(Level 2)		(Level 3)
	Interest rate derivatives (1)	$	6		$	—		$	6	$	—
	Available-for-sale equity securities	4.7			4.7			—		—
	Liabilities
	Interest rate derivatives (1)	0.8			—			0.8		—
	Interest rate derivatives (2)	0.2			—			0.2		—
	Foreign exchange rate derivatives (2)	2.6			—			2.6		—
	_________
	(1) Designated as hedges.
	(2) Not designated as hedges.
	We base our valuations of available-for-sale equity securities on their quoted prices on an active exchange. We value derivatives using a pricing model with inputs (such as yield curves and credit spreads) that are observable in the market or that can be derived principally from observable market data.
	Derivative instruments
	Fair Value Hedges
	We use interest rate swaps to manage the fixed-to-floating rate mix of our debt obligations by converting the fixed rate debt to floating rate debt. For fair value hedges, we recognize changes in fair value of both the derivative and the hedged item as interest expense. We had six instruments outstanding with an aggregate notional amount of $500.0 million as of March 31, 2014, and three instruments outstanding with an aggregate notional amount of $200.0 million as of December 31, 2013. These derivatives have maturities ranging from 2015 to 2019.
	Cash Flow Hedges
	We use interest rate swaps to convert floating rate debt to fixed rate debt. We also use Treasury rate locks to hedge our exposure to interest rate risk on anticipated transactions. We had six instruments outstanding with an aggregate notional amount of $163.5 million as of March 31, 2014, and six instruments outstanding with an aggregate notional amount of $163.6 million as of December 31, 2013. These derivatives had maturities ranging from 2014 to 2020. Within the next 12 months, we expect to reclassify $9.5 million ($6.0 million after-tax) of net losses on previously terminated derivatives from accumulated other comprehensive loss. We reclassify these amounts when interest and operating lease expense on the related hedged transactions affect earnings.
	Non-designated Derivatives
	We do not hold derivative financial instruments for purposes other than hedging, although certain of our derivatives are not designated as accounting hedges. We recognize changes in the fair value of these derivatives in other (income) expense immediately.
	Some of our derivative instruments contain credit risk provisions that could require us to make immediate payment on net liability positions in the event that we default on certain outstanding debt obligations. The aggregate fair value of our derivative instruments with credit risk related contingent features that are in a liability position as of March 31, 2014, was $4.2 million. We are not required to post any collateral on our derivative instruments and do not expect the credit risk provisions to be triggered.
	In the event that a counterparty fails to meet the terms of an interest rate swap agreement or a foreign exchange contract, our exposure is limited to the fair value of the swap, if in our favor. We manage the credit risk of counterparties by transacting with institutions that we consider financially sound and by avoiding concentrations of risk with a single counterparty. We believe that the risk of non-performance by any of our counterparties is remote.
	The following table shows the impacts of our derivative instruments on our statement of comprehensive loss (in millions):
				Three Months Ended March 31
	Derivative Designation		Location of Loss (Gain) Recognized	2014			2013
	Fair value hedges (1)		Interest expense	$	2.1		$	1.1
	Cash flow hedges		Other comprehensive loss (gain) (effective portion)	1.8			(0.3		)
	Cash flow hedges		Interest expense (effective portion reclassified from accumulated other comprehensive loss)	1.2			1.2
	Cash flow hedges		Operating lease expense (effective portion reclassified from accumulated other comprehensive loss)	2.4			0.4
	Non-designated		Other expense	0.1			0.5
	_________
	(1) The fair value adjustments related to the underlying debt equally offset the amounts recognized in interest expense.
	Other Financial Instruments
	The carrying amounts of cash and cash equivalents, restricted cash, rent and other receivables, accounts payable, and commercial paper and bank credit facilities approximate fair value due to the short maturity of those instruments. We base the fair values of investment funds, which are accounted for under the cost method, on the best information available, which may include quoted investment fund values. We estimate the fair values of loans and fixed and floating rate debt using discounted cash flow analyses based on interest rates currently offered for loans with similar terms to borrowers of similar credit quality. The inputs we use to estimate each of these values are classified in Level 2 of the fair value hierarchy because they are directly or indirectly observable inputs.
	The following table shows the carrying amounts and fair values of our other financial instruments as of (in millions):
		March 31, 2014						31-Dec-13
		Carrying			Fair			Carrying		Fair
		Amount			Value			Amount		Value
	Assets
	Investment funds	$	1.7		$	3.8		$	1.7	$	4
	Loans	121.4			120.2			122.7		121.5
	Liabilities
	Recourse fixed rate debt	$	3,718.80		$	3,851.60		$	2,871.20	$	2,994.00
	Recourse floating rate debt	591.2			595.4			894.7		906.2
	Nonrecourse debt	70.1			71.6			72.6		74.7
	The following table shows the carrying amounts and fair values of our other financial instruments as of (in millions):
		March 31, 2014						31-Dec-13
		Carrying			Fair			Carrying		Fair
		Amount			Value			Amount		Value
	Assets
	Investment funds	$	1.7		$	3.8		$	1.7	$	4
	Loans	121.4			120.2			122.7		121.5
	Liabilities
	Recourse fixed rate debt	$	3,718.80		$	3,851.60		$	2,871.20	$	2,994.00
Recourse floating rate debt	591.2			595.4			894.7		906.2
Nonrecourse debt	70.1			71.6			72.6		74.7
Derivative instruments
Fair Value Hedges
We use interest rate swaps to manage the fixed-to-floating rate mix of our debt obligations by converting the fixed rate debt to floating rate debt. For fair value hedges, we recognize changes in fair value of both the derivative and the hedged item as interest expense. We had six instruments outstanding with an aggregate notional amount of $500.0 million as of March 31, 2014, and three instruments outstanding with an aggregate notional amount of $200.0 million as of December 31, 2013. These derivatives have maturities ranging from 2015 to 2019.
Cash Flow Hedges
We use interest rate swaps to convert floating rate debt to fixed rate debt. We also use Treasury rate locks to hedge our exposure to interest rate risk on anticipated transactions. We had six instruments outstanding with an aggregate notional amount of $163.5 million as of March 31, 2014, and six instruments outstanding with an aggregate notional amount of $163.6 million as of December 31, 2013. These derivatives had maturities ranging from 2014 to 2020. Within the next 12 months, we expect to reclassify $9.5 million ($6.0 million after-tax) of net losses on previously terminated derivatives from accumulated other comprehensive loss. We reclassify these amounts when interest and operating lease expense on the related hedged transactions affect earnings.
Non-designated Derivatives
We do not hold derivative financial instruments for purposes other than hedging, although certain of our derivatives are not designated as accounting hedges. We recognize changes in the fair value of these derivatives in other (income) expense immediately.
Some of our derivative instruments contain credit risk provisions that could require us to make immediate payment on net liability positions in the event that we default on certain outstanding debt obligations. The aggregate fair value of our derivative instruments with credit risk related contingent features that are in a liability position as of March 31, 2014, was $4.2 million. We are not required to post any collateral on our derivative instruments and do not expect the credit risk provisions to be triggered.
In the event that a counterparty fails to meet the terms of an interest rate swap agreement or a foreign exchange contract, our exposure is limited to the fair value of the swap, if in our favor. We manage the credit risk of counterparties by transacting with institutions that we consider financially sound and by avoiding concentrations of risk with a single counterparty. We believe that the risk of non-performance by any of our counterparties is remote.
The following table shows the impacts of our derivative instruments on our statement of comprehensive loss (in millions):
			Three Months Ended March 31
Derivative Designation		Location of Loss (Gain) Recognized	2014			2013
Fair value hedges (1)		Interest expense	$	2.1		$	1.1
Cash flow hedges		Other comprehensive loss (gain) (effective portion)	1.8			(0.3		)
Cash flow hedges		Interest expense (effective portion reclassified from accumulated other comprehensive loss)	1.2			1.2
Cash flow hedges		Operating lease expense (effective portion reclassified from accumulated other comprehensive loss)	2.4			0.4
Non-designated		Other expense	0.1			0.5
_________
(1) The fair value adjustments related to the underlying debt equally offset the amounts recognized in interest expense.

Pension_and_Other_PostRetireme

Pension and Other Post-Retirement Benefits	3 Months Ended
	Mar. 31, 2014
Compensation and Retirement Disclosure [Abstract]	'
Pension and Other Post-Retirement Benefits	'
	Pension and Other Post-Retirement Benefits
	The following table shows components of our pension and other post-retirement benefits expense for the three months ended March 31, 2014 and 2013 (in millions):
		2014 Pension			2013 Pension			2014 Retiree		2013 Retiree
		Benefits			Benefits			Health		Health
								and Life		and Life
	Service cost	$	1.4		$	1.8		$	—	$	0.1
	Interest cost	5.1			4.6			0.4		0.4
	Expected return on plan assets	(7.2		)	(6.9		)	—		—
	Amortization of (1):
	Unrecognized prior service credit	(0.2		)	(0.3		)	—		—
	Unrecognized net actuarial loss	2.6			3.5			—		0.1
	Net expense	$	1.7		$	2.7		$	0.4	$	0.6
	_________
	(1) Amounts reclassified from accumulated other comprehensive loss.

ShareBased_Compensation

Share-Based Compensation	3 Months Ended
	Mar. 31, 2014
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]	'
Share-Based Compensation	'
	Share-Based Compensation
	During the first three months of 2014, we granted 290,500 stock appreciation rights (“SARs”), 53,680 restricted stock units, 62,670 performance shares, and 4,363 phantom stock units. For the three months ended March 31, 2014, total share-based compensation expense was $3.1 million and the related tax benefit was $1.2 million. For the three months ended March 31, 2013, total share-based compensation expense was $3.2 million and the related tax benefit was $1.2 million.
	The estimated fair value of our 2014 SARs awards and related underlying assumptions are shown in the table below.
		2014
	Estimated fair value	$	18.9
	Quarterly dividend rate	$	0.33
	Expected term of stock appreciation rights, in years	4.4
	Risk-free interest rate	1.3		%
	Dividend yield	2.3		%
	Expected stock price volatility	30.3		%
	Present value of dividends	$	5.76

Income_Taxes

Income Taxes	3 Months Ended
	Mar. 31, 2014
Income Tax Disclosure [Abstract]	'
Income Taxes	'
	Income Taxes
	Our effective tax rate was 30% for the three months ended March 31, 2014, compared to 29% for the three months ended March 31, 2013. The difference in the effective rates for each period, compared to the statutory rate of 35%, is primarily attributable to the mix of pretax income in each year among domestic and foreign jurisdictions which are taxed at different rates.
	As of March 31, 2014, our gross liability for unrecognized tax benefits was $5.3 million. If fully recognized, these tax benefits would decrease our income tax expense by $5.3 million ($3.4 million, net of federal tax). During the three months ended March 31, 2014, upon the close of a foreign tax audit, we released a gross unrecognized tax benefit of $0.4 million. We do not anticipate the recognition of any tax benefits that were previously unrecognized within the next 12 months.

Commercial_Commitments

Commercial Commitments	3 Months Ended
	Mar. 31, 2013
Guarantees [Abstract]	'
Commercial Commitments	'
	Commercial Commitments
	We have entered into various commercial commitments, such as guarantees and standby letters of credit, related to certain transactions. These commercial commitments require us to fulfill specific obligations in the event of third party demands. Similar to our balance sheet investments, these commitments expose us to credit, market, and equipment risk. Accordingly, we evaluate these commitments and other contingent obligations using techniques similar to those we use to evaluate funded transactions.
	The following table shows our commercial commitments (in millions):
		31-Mar		31-Dec
		2014		2013
	Lease payment guarantees	$	33.1	$	34.8
	Standby letters of credit	8.7		8.8
	Asset residual value guarantees	—		5.6
	Performance bonds	0.4		0.6
	Total commercial commitments (1)	$	42.2	$	49.8
	_________
	(1) The carrying value of liabilities on the balance sheet for commercial commitments was $6.0 million at March 31, 2014 and $6.2 million at December 31, 2013. The expirations of these commitments range from 2014 to 2023. We are not aware of any event that would require us to satisfy any of our commitments.
	Lease payment guarantees are commitments to financial institutions to make lease payments for a third party in the event they default. We reduce any liability that may result from these guarantees by the value of the underlying asset or group of assets.
	We are also parties to standby letters of credit and performance bonds, which primarily relate to contractual obligations and general liability insurance coverages. No material claims have been made against these obligations, and no material losses are anticipated.
	Asset residual value guarantees are commitments to third parties that an asset or group of assets will be worth a specified value at the end of a lease term. We earn a fee for providing these guarantees, which we amortize into income over the guarantee period. If the assets are disposed of for more than the amount we guaranteed, we receive a share of the proceeds in excess of the guaranteed amount. We record these residual sharing gains in our net gain on asset dispositions. If the net realizable value of the asset is less than the guaranteed amount, we incur a liability for the amount we guaranteed less the value realized from the asset's disposal.

Earnings_Per_Share

Earnings Per Share	3 Months Ended
	Mar. 31, 2014
Earnings Per Share [Abstract]	'
Earnings Per Share	'
	Earnings per Share
	We compute basic earnings per share by dividing net income available to our common shareholders by the weighted average number of shares of our common stock outstanding. We appropriately weighted shares issued or reacquired during the period that they were outstanding. Our diluted earnings per share reflect the impacts of our potentially dilutive securities, which include our convertible preferred stock and our equity compensation awards.
	In the second quarter of 2013, both series of our preferred stock were retired with all shares either converted to common stock or redeemed.
	The following table shows the computation of our basic and diluted net income per common share (in millions, except per share amounts):
		Three Months Ended March 31
		2014		2013
	Numerator:
	Net income	$	42.1	$	27.1
	Denominator:
	Weighted average shares outstanding - basic	46		46.9
	Effect of dilutive securities:
	Equity compensation plans	0.8		0.7
	Convertible preferred stock	—		0.1
	Weighted average shares outstanding - diluted	46.8		47.7
	Basic earnings per share	$	0.92	$	0.58
	Diluted earnings per share	$	0.9	$	0.57

Accumulated_Other_Comprehensiv

Accumulated Other Comprehensive Income (Loss)	3 Months Ended
	Mar. 31, 2014
Equity [Abstract]	'
Accumulated Other Comprehensive Income (Loss)	'
	Accumulated Other Comprehensive Loss
	The following table shows the change in components for accumulated other comprehensive loss (in millions):
		Foreign Currency Translation Gain (Loss)		Unrealized Gain (Loss) on Securities			Unrealized Loss on Derivative Instruments			Post-Retirement Benefit Plans			Total
	Balance at December 31, 2013	$	57.2	$	0.4		$	(22.1	)	$	(78.2	)	$	(42.7	)
	Change in component	0.7		(0.5		)	(2.2		)	—			(2.0		)
	Reclassification adjustments into earnings	—		—			3.6			2.4			6
	Income tax effect	—		0.3			(0.7		)	(1.0		)	(1.4		)
	Balance at March 31, 2014	$	57.9	$	0.2		$	(21.4	)	$	(76.8	)	$	(40.1	)
	________
	See "Note 4. Fair Value Disclosure" and "Note 5. Pension and Other Post-Retirement Benefits" for impacts of the reclassification adjustments on the statement of comprehensive income.

Legal_Proceedings_and_Other_Co

Legal Proceedings and Other Contingencies	3 Months Ended
	Mar. 31, 2014
Commitments and Contingencies Disclosure [Abstract]	'
Legal Proceedings and Other Contingencies	'
	OTE 11. Legal Proceedings and Other Contingencies
	Various legal actions, claims, assessments and other contingencies arising in the ordinary course of business are pending against GATX and certain of our subsidiaries. These matters are subject to many uncertainties, and it is possible that some of these matters could ultimately be decided, resolved or settled adversely. For a full discussion of our pending legal matters, please refer to "Note 23. Legal Proceedings and Other Contingencies" of our consolidated financial statements in our Annual Report on Form 10-K for the year ended December 31, 2013.
	Viareggio Derailment
	In June 2009, a train consisting of fourteen liquefied petroleum gas (“LPG”) tank cars owned by GATX Rail Austria GmbH (an indirect subsidiary of the Company, "GATX Rail Austria") and its subsidiaries derailed while passing through the City of Viareggio, in the province of Lucca, Italy. Five tank cars overturned and one of the overturned cars was punctured by a peg or obstacle along the side of the track, resulting in a release of LPG, which subsequently ignited. Thirty-two people died and others were injured in the fire, which also resulted in property damage. The LPG tank cars were leased to FS Logistica S.p.A., a subsidiary of the Italian state-owned railway, Ferrovie dello Stato S.p.A (the “Italian Railway”).
	On December 14, 2012, the Public Prosecutors of Lucca ("Public Prosecutors") formally charged GATX Rail Austria and two of its subsidiaries (collectively, "GRA"), as well as ten maintenance and supervisory employees (the "Employees"), with various negligence-based crimes related to the accident, all of which are punishable under Italian law by incarceration, damages and fines. Similar charges were brought against four Italian Railway companies and eighteen of their employees, among others. The Public Prosecutors assert that the axle on a tank car broke, causing the derailment and resulting in a tank rupture and release of LPG, after the car hit an obstacle placed on the side of the track by the Italian Railway. The Public Prosecutors further allege that a crack in the axle was detectable at the time of final inspection but was overlooked by the Employees at the Jungenthal Waggon GmbH workshop (a subsidiary of GATX Rail Austria). The trial in the Court of Lucca (the “Lucca Trial”) commenced on November 13, 2013.
	With respect to civil claims, GRA’s insurers continue to work cooperatively with the insurer for the Italian Railway to adjust and settle personal injury and property damage claims. These joint settlement efforts have so far settled most of the significant civil claims related to the accident; however, approximately 90 civil claimants did not settle and are currently parties to the Lucca Trial. The Court of Lucca will determine both the civil and criminal liability of the defendants in the one proceeding. GRA believes that it and its Employees acted diligently and properly with respect to applicable legal and industry standards, but expects that its insurers will cover any civil damages if awarded to the claimants in the Lucca trial.
	Since May 2012, the excess insurer providing coverage, Liberty Mutual Insurance Europe Limited (“Liberty”) has settled civil claims but has refused to reimburse GRA for its ongoing legal defense fees and costs, taking a position contrary to insurers in the prior underlying layers who had provided coverage for such expenses. To date, GRA has incurred approximately $5.6 million in unreimbursed defense fees and costs at the Liberty coverage layer and continues to incur costs in connection with the Lucca Trial. Consequently, in October 2013, GRA filed an arbitration proceeding against Liberty seeking to recoup its unreimbursed defense fees and costs (the “Liberty Arbitration”). The Liberty excess layer is currently fully exhausted and, therefore, the issue of reimbursement for outstanding defense costs will now be determined by the four insurers in the next coverage layer, which includes 25% held by Liberty. GRA cannot predict the outcome of the Liberty Arbitration, the amount of defense fees and costs that ultimately may not be reimbursed by Liberty, or the positions other excess insurers in the current coverage layer may take with respect to defense fees and costs.
	GATX cannot predict the outcome of the Lucca Trial or what other legal proceedings or claims, if any, may be initiated against GRA or its personnel, and, therefore, cannot reasonably estimate the possible amount or range of loss that may ultimately be incurred in connection with this accident. Accordingly, we have not established any accruals with respect to this matter.

Financial_Data_of_Business_Seg

Financial Data of Business Segments	3 Months Ended
	Mar. 31, 2014
Segment Reporting [Abstract]	'
Financial Data of Business Segments	'
	Financial Data of Business Segments
	The financial data presented below depicts the profitability, financial position, and capital expenditures of each of our business segments.
	We lease, operate, manage, and remarket long-lived, widely-used assets, primarily in the rail and marine markets. We also invest in joint ventures that complement our existing business activities. We report our financial results through four primary business segments: Rail North America, Rail International, American Steamship Company (“ASC”), and Portfolio Management.
	Rail North America is comprised of our wholly owned operations in the United States, Canada, and Mexico, as well as two affiliate investments. Rail North America primarily provides railcars and locomotives pursuant to full-service leases under which it maintains the railcars, pays ad valorem taxes and insurance, and provides other ancillary services.
	Rail International is comprised of our wholly owned European operations ("Rail Europe") and a recently established railcar leasing business in India ("Rail India"), as well as one development stage affiliate in China. Rail Europe leases railcars to customers throughout Europe pursuant to full-service leases under which it maintains the railcars and provides insurance, and other ancillary services.
	ASC operates the largest fleet of US flagged vessels on the Great Lakes, providing waterborne transportation of dry bulk commodities such as iron ore, coal, limestone aggregates, and metallurgical limestone.
	Portfolio Management provides leasing, shipping, asset remarketing and asset management services through a collection of diversified wholly owned assets and joint venture investments. Portfolio Management selectively invests in domestic marine assets and seeks to maximize the value of the existing portfolio of owned and managed assets and affiliate investments.
	Segment profit is an internal performance measure used by the Chief Executive Officer to assess the performance of each segment in a given period. Segment profit includes all revenues, pretax earnings from affiliates, and net gains on asset dispositions that are attributable to the segments, as well as expenses that management believes are directly associated with the financing, maintenance, and operation of the revenue earning assets. Segment profit excludes selling, general and administrative expenses, income taxes, and certain other amounts not allocated to the segments. These amounts are included in Other.
	We allocate debt balances and related interest expense to each segment based upon a predetermined fixed recourse leverage level expressed as a ratio of recourse debt (including off-balance-sheet debt) to equity. The leverage levels are 5:1 for Rail North America, 2:1 for Rail International, 1.5:1 for ASC, and 3:1 for Portfolio Management. We believe that by using this leverage and interest expense allocation methodology, each operating segment’s financial performance reflects appropriate risk-adjusted borrowing costs.
	The following tables show certain segment data of each of our business segments (in millions):
		Rail North America			Rail International			ASC			Portfolio Management			Other			GATX Consolidated
	Three Months Ended March 31, 2014
	Profitability
	Revenues
	Lease revenue	$	194.9		$	47.2		$	1.1		$	7.4		$	—		$	250.6
	Marine operating revenue	—			—			3.1			14.6			—			17.7
	Other revenue	14.6			2			—			1.7			—			18.3
	Total Revenues	209.5			49.2			4.2			23.7			—			286.6
	Expenses
	Maintenance expense	61.4			11.5			0.2			—			—			73.1
	Marine operating expense	—			—			3.4			11.6			—			15
	Depreciation expense	41.5			11.7			—			5.5			—			58.7
	Operating lease expense	26.9			—			—			—			—			26.9
	Other operating expense	4.8			1.4			—			0.4			—			6.6
	Total Expenses	134.6			24.6			3.6			17.5			—			180.3
	Other Income (Expense)
	Net gain (loss) on asset dispositions	24.8			2.4			(0.4		)	1.3			—			28.1
	Interest expense, net	(24.6		)	(6.2		)	(1.4		)	(6.8		)	(3.0		)	(42.0		)
	Other (expense) income	(3.4		)	—			—			0.3			(0.3		)	(3.4		)
	Share of affiliates' earnings (pretax)	3.3			(0.1		)	—			10.9			—			14.1
	Segment Profit (Loss)	$	75		$	20.7		$	(1.2	)	$	11.9		$	(3.3	)	103.1
	Selling, general and administrative expense																42.7
	Income taxes (including $4.2 related to affiliates' earnings)																18.3
	Net Income																$	42.1
	Net Gain on Asset Dispositions
	Asset Remarketing Income:
	Disposition gains on owned assets	$	21.6		$	—		$	—		$	—		$	—		$	21.6
	Residual sharing income	0.6			—			—			1.2			—			1.8
	Non-remarketing disposition gains (1)	2.6			2.4			—			—			—			5
	Asset impairment	—			—			(0.4		)	0.1			—			(0.3		)
		$	24.8		$	2.4		$	(0.4	)	$	1.3		$	—		$	28.1
	Capital Expenditures
	Portfolio investments and capital additions	$	396		$	39.3		$	8.3		$	—		$	1.9		$	445.5
	Selected Balance Sheet Data at March 31, 2014
	Investments in affiliated companies	$	21.9		$	1.9		$	—		$	324.7		$	—		$	348.5
	Identifiable assets	$	4,186.80		$	1,327.10		$	267.1		$	854.6		$	483.4		$	7,119.00
	_____
	(1) Includes scrapping gains.
		Rail North America			Rail International			ASC			Portfolio Management			Other			GATX Consolidated
	Three Months Ended March 31, 2013
	Profitability
	Revenues
	Lease revenue	$	183.8		$	43		$	1.1		$	9.3		$	—		$	237.2
	Marine operating revenue	—			—			12.3			6.2			—			18.5
	Other revenue	13.8			2.2			—			0.6			—			16.6
	Total Revenues	197.6			45.2			13.4			16.1			—			272.3
	Expenses
	Maintenance expense	54.6			11.5			0.6			—			—			66.7
	Marine operating expense	—			—			9.8			6.8			—			16.6
	Depreciation expense	42.3			10.1			—			5.5			—			57.9
	Operating lease expense	32.3			—			—			—			—			32.3
	Other operating expense	4			0.9			—			0.4			—			5.3
	Total Expenses	133.2			22.5			10.4			12.7			—			178.8
Other Income (Expense)
Net gain on asset dispositions	10.2			1.2			—			5.3			—			16.7
Interest expense, net	(25.7		)	(5.6		)	(1.6		)	(6.7		)	(1.3		)	(40.9		)
Other (expense) income	(0.8		)	0.5			(0.6		)	—			(0.2		)	(1.1		)
Share of affiliates' earnings (pretax)	2.2			(0.2		)	—			10.5			—			12.5
Segment Profit (Loss)	$	50.3		$	18.6		$	0.8		$	12.5		$	(1.5	)	80.7
Selling, general and administrative expense																42
Income taxes (including $4.1 related to affiliates' earnings)																11.6
Net Income																$	27.1
Net Gain on Asset Dispositions
Asset Remarketing Income:
Disposition gains on owned assets	$	1.6		$	—		$	—		$	4.2		$	—		$	5.8
Residual sharing income	2.8			—			—			1.1			—			3.9
Non-remarketing disposition gains (1)	6.5			1.4			—			—			—			7.9
Asset impairment	(0.7		)	(0.2		)	—			—			—			(0.9		)
	$	10.2		$	1.2		$	—		$	5.3		$	—		$	16.7
Capital Expenditures
Portfolio investments and capital additions	$	85.7		$	44.3		$	3.2		$	16		$	0.7		$	149.9
Selected Balance Sheet Data at December 31, 2013
Investments in affiliated companies	$	31.4		$	2		$	—		$	320.9		$	—		$	354.3
Identifiable assets	$	3,710.50		$	1,297.10		$	271		$	856.9		$	414.1		$	6,549.60
_____
(1) Includes scrapping gains.

Variable_Interest_Entities_Tab

Variable Interest Entities (Tables)	3 Months Ended
	Mar. 31, 2014
Variable Interest Entity, Not Primary Beneficiary, Disclosures [Abstract]	'
Carrying amounts of assets and liabilities of consolidated VIE	'
	Variable Interest Entities
	We are the primary beneficiary of one of our variable interest entities, a structured lease financing of a portfolio of railcars, because we have the power to direct its significant activities. As a result, we consolidate this variable interest entity. The risks associated with it are similar to those of our wholly owned railcar leasing activities.
	The following table shows the carrying amounts of assets and liabilities of the consolidated variable interest entity (in millions):
		March 31 2014		December 31 2013
	Operating assets, net of accumulated depreciation (1)	$	91.8	$	93
	Nonrecourse debt	23		25.4
	_________
	-1	All operating assets are pledged as collateral on the nonrecourse debt.
	We determined that we are not the primary beneficiary of our other variable interest entities, which are primarily investments in railcar and equipment leasing affiliates that were financed through a variety of equity investments and third party lending arrangements. We are not the primary beneficiary of these variable interest entities because we do not have the power to direct the activities that most significantly impact the entities’ economic performance. For investments in affiliates we determined were variable interest entities, we concluded that power was shared by the affiliate partners based on the terms of the relevant joint venture agreements, which require approval of all partners for significant decisions regarding the variable interest entity.
Carrying amounts and maximum exposure to loss for non consolidated VIEs	'
	The following table shows the carrying amounts and maximum exposure to loss for our unconsolidated variable interest entities (in millions):
		March 31, 2014				31-Dec-13
		Net Carrying Amount		Maximum Exposure to Loss		Net Carrying Amount		Maximum Exposure to Loss
	Investments in affiliates	$	129.4	$	129.4	$	125.5	$	125.5
	Other investment	0.6		0.6		0.6		0.6
	Total	$	130	$	130	$	126.1	$	126.1

Fair_Value_Disclosure_Tables

Fair Value Disclosure (Tables)	3 Months Ended
	Mar. 31, 2014
Fair Value Disclosures [Abstract]	'
Non-recurring Level 3 fair value measurements	'
	Fair Value Disclosure
	The following tables show our assets and liabilities that are measured at fair value on a recurring basis (in millions):
	Assets	31-Mar-14			Quoted Prices in Active Markets for Identical Assets			Significant Observable Inputs		Significant Unobservable Inputs
					(Level 1)			(Level 2)		(Level 3)
	Interest rate derivatives (1)	$	4.8		$	—		$	4.8	$	—
	Available-for-sale equity securities	4.2			4.2			—		—
	Liabilities
	Interest rate derivatives (1)	3.1			—			3.1		—
	Interest rate derivatives (2)	0.2			—			0.2		—
	Foreign exchange rate derivatives (2)	2.6			—			2.6		—
	Assets	31-Dec-13			Quoted Prices in Active Markets for Identical Assets			Significant Observable Inputs		Significant Unobservable Inputs
					(Level 1)			(Level 2)		(Level 3)
	Interest rate derivatives (1)	$	6		$	—		$	6	$	—
	Available-for-sale equity securities	4.7			4.7			—		—
	Liabilities
	Interest rate derivatives (1)	0.8			—			0.8		—
	Interest rate derivatives (2)	0.2			—			0.2		—
	Foreign exchange rate derivatives (2)	2.6			—			2.6		—
	_________
	(1) Designated as hedges.
	(2) Not designated as hedges.
	We base our valuations of available-for-sale equity securities on their quoted prices on an active exchange. We value derivatives using a pricing model with inputs (such as yield curves and credit spreads) that are observable in the market or that can be derived principally from observable market data.
	Derivative instruments
	Fair Value Hedges
	We use interest rate swaps to manage the fixed-to-floating rate mix of our debt obligations by converting the fixed rate debt to floating rate debt. For fair value hedges, we recognize changes in fair value of both the derivative and the hedged item as interest expense. We had six instruments outstanding with an aggregate notional amount of $500.0 million as of March 31, 2014, and three instruments outstanding with an aggregate notional amount of $200.0 million as of December 31, 2013. These derivatives have maturities ranging from 2015 to 2019.
	Cash Flow Hedges
	We use interest rate swaps to convert floating rate debt to fixed rate debt. We also use Treasury rate locks to hedge our exposure to interest rate risk on anticipated transactions. We had six instruments outstanding with an aggregate notional amount of $163.5 million as of March 31, 2014, and six instruments outstanding with an aggregate notional amount of $163.6 million as of December 31, 2013. These derivatives had maturities ranging from 2014 to 2020. Within the next 12 months, we expect to reclassify $9.5 million ($6.0 million after-tax) of net losses on previously terminated derivatives from accumulated other comprehensive loss. We reclassify these amounts when interest and operating lease expense on the related hedged transactions affect earnings.
	Non-designated Derivatives
	We do not hold derivative financial instruments for purposes other than hedging, although certain of our derivatives are not designated as accounting hedges. We recognize changes in the fair value of these derivatives in other (income) expense immediately.
	Some of our derivative instruments contain credit risk provisions that could require us to make immediate payment on net liability positions in the event that we default on certain outstanding debt obligations. The aggregate fair value of our derivative instruments with credit risk related contingent features that are in a liability position as of March 31, 2014, was $4.2 million. We are not required to post any collateral on our derivative instruments and do not expect the credit risk provisions to be triggered.
	In the event that a counterparty fails to meet the terms of an interest rate swap agreement or a foreign exchange contract, our exposure is limited to the fair value of the swap, if in our favor. We manage the credit risk of counterparties by transacting with institutions that we consider financially sound and by avoiding concentrations of risk with a single counterparty. We believe that the risk of non-performance by any of our counterparties is remote.
	The following table shows the impacts of our derivative instruments on our statement of comprehensive loss (in millions):
				Three Months Ended March 31
	Derivative Designation		Location of Loss (Gain) Recognized	2014			2013
	Fair value hedges (1)		Interest expense	$	2.1		$	1.1
	Cash flow hedges		Other comprehensive loss (gain) (effective portion)	1.8			(0.3		)
	Cash flow hedges		Interest expense (effective portion reclassified from accumulated other comprehensive loss)	1.2			1.2
	Cash flow hedges		Operating lease expense (effective portion reclassified from accumulated other comprehensive loss)	2.4			0.4
	Non-designated		Other expense	0.1			0.5
	_________
	(1) The fair value adjustments related to the underlying debt equally offset the amounts recognized in interest expense.
	Other Financial Instruments
	The carrying amounts of cash and cash equivalents, restricted cash, rent and other receivables, accounts payable, and commercial paper and bank credit facilities approximate fair value due to the short maturity of those instruments. We base the fair values of investment funds, which are accounted for under the cost method, on the best information available, which may include quoted investment fund values. We estimate the fair values of loans and fixed and floating rate debt using discounted cash flow analyses based on interest rates currently offered for loans with similar terms to borrowers of similar credit quality. The inputs we use to estimate each of these values are classified in Level 2 of the fair value hierarchy because they are directly or indirectly observable inputs.
	The following table shows the carrying amounts and fair values of our other financial instruments as of (in millions):
		March 31, 2014						31-Dec-13
		Carrying			Fair			Carrying		Fair
		Amount			Value			Amount		Value
	Assets
	Investment funds	$	1.7		$	3.8		$	1.7	$	4
	Loans	121.4			120.2			122.7		121.5
	Liabilities
	Recourse fixed rate debt	$	3,718.80		$	3,851.60		$	2,871.20	$	2,994.00
	Recourse floating rate debt	591.2			595.4			894.7		906.2
	Nonrecourse debt	70.1			71.6			72.6		74.7
	The following table shows the carrying amounts and fair values of our other financial instruments as of (in millions):
		March 31, 2014						31-Dec-13
		Carrying			Fair			Carrying		Fair
		Amount			Value			Amount		Value
	Assets
	Investment funds	$	1.7		$	3.8		$	1.7	$	4
	Loans	121.4			120.2			122.7		121.5
	Liabilities
	Recourse fixed rate debt	$	3,718.80		$	3,851.60		$	2,871.20	$	2,994.00
Recourse floating rate debt	591.2			595.4			894.7		906.2
Nonrecourse debt	70.1			71.6			72.6		74.7
Derivative instruments
Fair Value Hedges
We use interest rate swaps to manage the fixed-to-floating rate mix of our debt obligations by converting the fixed rate debt to floating rate debt. For fair value hedges, we recognize changes in fair value of both the derivative and the hedged item as interest expense. We had six instruments outstanding with an aggregate notional amount of $500.0 million as of March 31, 2014, and three instruments outstanding with an aggregate notional amount of $200.0 million as of December 31, 2013. These derivatives have maturities ranging from 2015 to 2019.
Cash Flow Hedges
We use interest rate swaps to convert floating rate debt to fixed rate debt. We also use Treasury rate locks to hedge our exposure to interest rate risk on anticipated transactions. We had six instruments outstanding with an aggregate notional amount of $163.5 million as of March 31, 2014, and six instruments outstanding with an aggregate notional amount of $163.6 million as of December 31, 2013. These derivatives had maturities ranging from 2014 to 2020. Within the next 12 months, we expect to reclassify $9.5 million ($6.0 million after-tax) of net losses on previously terminated derivatives from accumulated other comprehensive loss. We reclassify these amounts when interest and operating lease expense on the related hedged transactions affect earnings.
Non-designated Derivatives
We do not hold derivative financial instruments for purposes other than hedging, although certain of our derivatives are not designated as accounting hedges. We recognize changes in the fair value of these derivatives in other (income) expense immediately.
Some of our derivative instruments contain credit risk provisions that could require us to make immediate payment on net liability positions in the event that we default on certain outstanding debt obligations. The aggregate fair value of our derivative instruments with credit risk related contingent features that are in a liability position as of March 31, 2014, was $4.2 million. We are not required to post any collateral on our derivative instruments and do not expect the credit risk provisions to be triggered.
In the event that a counterparty fails to meet the terms of an interest rate swap agreement or a foreign exchange contract, our exposure is limited to the fair value of the swap, if in our favor. We manage the credit risk of counterparties by transacting with institutions that we consider financially sound and by avoiding concentrations of risk with a single counterparty. We believe that the risk of non-performance by any of our counterparties is remote.
The following table shows the impacts of our derivative instruments on our statement of comprehensive loss (in millions):
			Three Months Ended March 31
Derivative Designation		Location of Loss (Gain) Recognized	2014			2013
Fair value hedges (1)		Interest expense	$	2.1		$	1.1
Cash flow hedges		Other comprehensive loss (gain) (effective portion)	1.8			(0.3		)
Cash flow hedges		Interest expense (effective portion reclassified from accumulated other comprehensive loss)	1.2			1.2
Cash flow hedges		Operating lease expense (effective portion reclassified from accumulated other comprehensive loss)	2.4			0.4
Non-designated		Other expense	0.1			0.5
_________
(1) The fair value adjustments related to the underlying debt equally offset the amounts recognized in interest expense.
Fair Value Measurements, Recurring and Nonrecurring	'
	The following tables show our assets and liabilities that are measured at fair value on a recurring basis (in millions):
	Assets	31-Mar-14			Quoted Prices in Active Markets for Identical Assets			Significant Observable Inputs		Significant Unobservable Inputs
					(Level 1)			(Level 2)		(Level 3)
	Interest rate derivatives (1)	$	4.8		$	—		$	4.8	$	—
	Available-for-sale equity securities	4.2			4.2			—		—
	Liabilities
	Interest rate derivatives (1)	3.1			—			3.1		—
	Interest rate derivatives (2)	0.2			—			0.2		—
	Foreign exchange rate derivatives (2)	2.6			—			2.6		—
	Assets	31-Dec-13			Quoted Prices in Active Markets for Identical Assets			Significant Observable Inputs		Significant Unobservable Inputs
					(Level 1)			(Level 2)		(Level 3)
	Interest rate derivatives (1)	$	6		$	—		$	6	$	—
	Available-for-sale equity securities	4.7			4.7			—		—
	Liabilities
	Interest rate derivatives (1)	0.8			—			0.8		—
	Interest rate derivatives (2)	0.2			—			0.2		—
	Foreign exchange rate derivatives (2)	2.6			—			2.6		—
	_________
	(1) Designated as hedges.
	(2) Not designated as hedges.
	We base our valuations of available-for-sale equity securities on their quoted prices on an active exchange. We value derivatives using a pricing model with inputs (such as yield curves and credit spreads) that are observable in the market or that can be derived principally from observable market data.

Pension_and_Other_PostRetireme1

Pension and Other Post-Retirement Benefits (Tables)	3 Months Ended
	Mar. 31, 2014
Compensation and Retirement Disclosure [Abstract]	'
Pension obligations and plan assets and other post-retirement obligations	'
	The following table shows components of our pension and other post-retirement benefits expense for the three months ended March 31, 2014 and 2013 (in millions):
		2014 Pension			2013 Pension			2014 Retiree		2013 Retiree
		Benefits			Benefits			Health		Health
								and Life		and Life
	Service cost	$	1.4		$	1.8		$	—	$	0.1
	Interest cost	5.1			4.6			0.4		0.4
	Expected return on plan assets	(7.2		)	(6.9		)	—		—
	Amortization of (1):
	Unrecognized prior service credit	(0.2		)	(0.3		)	—		—
	Unrecognized net actuarial loss	2.6			3.5			—		0.1
	Net expense	$	1.7		$	2.7		$	0.4	$	0.6
	_________
	(1) Amounts reclassified from accumulated other comprehensive loss.

Share_Based_Compensation_Table

Share Based Compensation (Tables)	3 Months Ended
	Mar. 31, 2014
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]	'
Weighted Average Fair Value and Assumptions	'
	The estimated fair value of our 2014 SARs awards and related underlying assumptions are shown in the table below.
		2014
	Estimated fair value	$	18.9
	Quarterly dividend rate	$	0.33
	Expected term of stock appreciation rights, in years	4.4
	Risk-free interest rate	1.3		%
	Dividend yield	2.3		%
	Expected stock price volatility	30.3		%
	Present value of dividends	$	5.76

Commercial_Commitments_Tables

Commercial Commitments (Tables)	3 Months Ended
	Mar. 31, 2014
Guarantees [Abstract]	'
Commercial Commitments	'
	The following table shows our commercial commitments (in millions):
		31-Mar		31-Dec
		2014		2013
	Lease payment guarantees	$	33.1	$	34.8
	Standby letters of credit	8.7		8.8
	Asset residual value guarantees	—		5.6
	Performance bonds	0.4		0.6
	Total commercial commitments (1)	$	42.2	$	49.8
	_________
	(1) The carrying value of liabilities on the balance sheet for commercial commitments was $6.0 million at March 31, 2014 and $6.2 million at December 31, 2013. The expirations of these commitments range from 2014 to 2023. We are not aware of any event that would require us to satisfy any of our commitments.

Earnings_Per_Share_Tables

Earnings Per Share (Tables)	3 Months Ended
	Mar. 31, 2014
Earnings Per Share [Abstract]	'
Computation of basic and diluted net income per common share	'
	he following table shows the computation of our basic and diluted net income per common share (in millions, except per share amounts):
		Three Months Ended March 31
		2014		2013
	Numerator:
	Net income	$	42.1	$	27.1
	Denominator:
	Weighted average shares outstanding - basic	46		46.9
	Effect of dilutive securities:
	Equity compensation plans	0.8		0.7
	Convertible preferred stock	—		0.1
	Weighted average shares outstanding - diluted	46.8		47.7
	Basic earnings per share	$	0.92	$	0.58
	Diluted earnings per share	$	0.9	$	0.57

Accumulated_Other_Comprehensiv1

Accumulated Other Comprehensive Income (Loss) (Tables)	3 Months Ended
	Mar. 31, 2014
Equity [Abstract]	'
Accumulated other comprehensive income (loss)	'
	The following table shows the change in components for accumulated other comprehensive loss (in millions):
		Foreign Currency Translation Gain (Loss)		Unrealized Gain (Loss) on Securities			Unrealized Loss on Derivative Instruments			Post-Retirement Benefit Plans			Total
	Balance at December 31, 2013	$	57.2	$	0.4		$	(22.1	)	$	(78.2	)	$	(42.7	)
	Change in component	0.7		(0.5		)	(2.2		)	—			(2.0		)
	Reclassification adjustments into earnings	—		—			3.6			2.4			6
	Income tax effect	—		0.3			(0.7		)	(1.0		)	(1.4		)
	Balance at March 31, 2014	$	57.9	$	0.2		$	(21.4	)	$	(76.8	)	$	(40.1	)

Financial_Data_of_Business_Seg1

Financial Data of Business Segments (Tables)	3 Months Ended
	Mar. 31, 2014
Segment Reporting [Abstract]	'
Segment data	'
	The following tables show certain segment data of each of our business segments (in millions):
		Rail North America			Rail International			ASC			Portfolio Management			Other			GATX Consolidated
	Three Months Ended March 31, 2014
	Profitability
	Revenues
	Lease revenue	$	194.9		$	47.2		$	1.1		$	7.4		$	—		$	250.6
	Marine operating revenue	—			—			3.1			14.6			—			17.7
	Other revenue	14.6			2			—			1.7			—			18.3
	Total Revenues	209.5			49.2			4.2			23.7			—			286.6
	Expenses
	Maintenance expense	61.4			11.5			0.2			—			—			73.1
	Marine operating expense	—			—			3.4			11.6			—			15
	Depreciation expense	41.5			11.7			—			5.5			—			58.7
	Operating lease expense	26.9			—			—			—			—			26.9
	Other operating expense	4.8			1.4			—			0.4			—			6.6
	Total Expenses	134.6			24.6			3.6			17.5			—			180.3
	Other Income (Expense)
	Net gain (loss) on asset dispositions	24.8			2.4			(0.4		)	1.3			—			28.1
	Interest expense, net	(24.6		)	(6.2		)	(1.4		)	(6.8		)	(3.0		)	(42.0		)
	Other (expense) income	(3.4		)	—			—			0.3			(0.3		)	(3.4		)
	Share of affiliates' earnings (pretax)	3.3			(0.1		)	—			10.9			—			14.1
	Segment Profit (Loss)	$	75		$	20.7		$	(1.2	)	$	11.9		$	(3.3	)	103.1
	Selling, general and administrative expense																42.7
	Income taxes (including $4.2 related to affiliates' earnings)																18.3
	Net Income																$	42.1
	Net Gain on Asset Dispositions
	Asset Remarketing Income:
	Disposition gains on owned assets	$	21.6		$	—		$	—		$	—		$	—		$	21.6
	Residual sharing income	0.6			—			—			1.2			—			1.8
	Non-remarketing disposition gains (1)	2.6			2.4			—			—			—			5
	Asset impairment	—			—			(0.4		)	0.1			—			(0.3		)
		$	24.8		$	2.4		$	(0.4	)	$	1.3		$	—		$	28.1
	Capital Expenditures
	Portfolio investments and capital additions	$	396		$	39.3		$	8.3		$	—		$	1.9		$	445.5
	Selected Balance Sheet Data at March 31, 2014
	Investments in affiliated companies	$	21.9		$	1.9		$	—		$	324.7		$	—		$	348.5
	Identifiable assets	$	4,186.80		$	1,327.10		$	267.1		$	854.6		$	483.4		$	7,119.00
	_____
	(1) Includes scrapping gains.
		Rail North America			Rail International			ASC			Portfolio Management			Other			GATX Consolidated
	Three Months Ended March 31, 2013
	Profitability
	Revenues
	Lease revenue	$	183.8		$	43		$	1.1		$	9.3		$	—		$	237.2
	Marine operating revenue	—			—			12.3			6.2			—			18.5
	Other revenue	13.8			2.2			—			0.6			—			16.6
	Total Revenues	197.6			45.2			13.4			16.1			—			272.3
	Expenses
	Maintenance expense	54.6			11.5			0.6			—			—			66.7
	Marine operating expense	—			—			9.8			6.8			—			16.6
	Depreciation expense	42.3			10.1			—			5.5			—			57.9
	Operating lease expense	32.3			—			—			—			—			32.3
	Other operating expense	4			0.9			—			0.4			—			5.3
	Total Expenses	133.2			22.5			10.4			12.7			—			178.8
	Other Income (Expense)
	Net gain on asset dispositions	10.2			1.2			—			5.3			—			16.7
	Interest expense, net	(25.7		)	(5.6		)	(1.6		)	(6.7		)	(1.3		)	(40.9		)
	Other (expense) income	(0.8		)	0.5			(0.6		)	—			(0.2		)	(1.1		)
	Share of affiliates' earnings (pretax)	2.2			(0.2		)	—			10.5			—			12.5
	Segment Profit (Loss)	$	50.3		$	18.6		$	0.8		$	12.5		$	(1.5	)	80.7
	Selling, general and administrative expense																42
	Income taxes (including $4.1 related to affiliates' earnings)																11.6
	Net Income																$	27.1
Net Gain on Asset Dispositions
Asset Remarketing Income:
Disposition gains on owned assets	$	1.6		$	—		$	—		$	4.2		$	—		$	5.8
Residual sharing income	2.8			—			—			1.1			—			3.9
Non-remarketing disposition gains (1)	6.5			1.4			—			—			—			7.9
Asset impairment	(0.7		)	(0.2		)	—			—			—			(0.9		)
	$	10.2		$	1.2		$	—		$	5.3		$	—		$	16.7
Capital Expenditures
Portfolio investments and capital additions	$	85.7		$	44.3		$	3.2		$	16		$	0.7		$	149.9
Selected Balance Sheet Data at December 31, 2013
Investments in affiliated companies	$	31.4		$	2		$	—		$	320.9		$	—		$	354.3
Identifiable assets	$	3,710.50		$	1,297.10		$	271		$	856.9		$	414.1		$	6,549.60

Description_of_Business_Detail

Description of Business (Details)	3 Months Ended
	Mar. 31, 2014
	Segment
Organization, Consolidation and Presentation of Financial Statements [Abstract]	'
Number of business segments	4

Basis_of_Presentation_Basis_of

Basis of Presentation Basis of Presentation (non-printing) (Details) (USD $)	3 Months Ended			12 Months Ended	3 Months Ended
	Mar. 31, 2014	Mar. 31, 2013	Mar. 31, 2014	Dec. 31, 2014	Mar. 31, 2014	Mar. 31, 2014	Mar. 31, 2014	Mar. 31, 2014	Mar. 31, 2014
			Service Life [Member]	Service Life [Member]	Railcars [Member]	Railcars [Member]	Railcars [Member]	Railcars [Member]	Railcars [Member]
					Service Life [Member]	Minimum [Member]	Minimum [Member]	Maximum [Member]	Maximum [Member]
							Service Life [Member]		Service Life [Member]
Change in Accounting Estimate [Line Items]	'	'	'	'	'	'	'	'	'
Change in accounting estimate	'	'	$3,500,000	$14,000,000	'	'	'	'	'
Property, Plant and Equipment, Useful Life	'	'	'	'	'	'30 years	'27 years	'38 years	'42 years
Average Increase (Decrease) in Estimated Railcar Useful Life	'	'	'	'	'2 years 2 months 12 days	'	'	'	'
Depreciation, Nonproduction	62,100,000	60,900,000	0	21,900,000	'	'	'	'	'
Net Income (Loss) Attributable to Parent	$42,100,000	$27,100,000	'	'	'	'	'	'	'
Earnings Per Share, Diluted	$0.90	$0.57	'	'	'	'	'	'	'
New Accounting Pronouncement or Change in Accounting Principle, Effect of Change on Diluted Earnings Per Share	'	'	$0.08	$0.30	'	'	'	'	'

Variable_Interest_Entities_Det

Variable Interest Entities (Details) (USD $)	3 Months Ended
In Millions, unless otherwise specified	Mar. 31, 2014	Mar. 31, 2014		Dec. 31, 2013
		Variable Interest, Held by Entity [Member]		Variable Interest, Held by Entity [Member]
Variable Interest Entity [Line Items]	'	'		'
Variable Interest Entity, Qualitative or Quantitative Information, Type of Entity	'one	'		'
Carrying amounts of assets and liabilities of the VIE	'	'		'
Operating assets, net of accumulated depreciation	'	$91.80	[1]	$93	[1]
Nonrecourse debt	'	$23		$25.40
[1]	(1) All operating assets are pledged as collateral on the nonrecourse debt.

Variable_Interest_Entities_Det1

Variable Interest Entities (Details 1) (USD $)	Mar. 31, 2014	Dec. 31, 2013
In Millions, unless otherwise specified
Carrying amounts and maximum exposure to loss with respect to VIEs	'	'
Net Carrying Amount	$130	$126.10
Maximum Exposure to Loss	130	126.1
Investments in Affiliates [Member]	'	'
Carrying amounts and maximum exposure to loss with respect to VIEs	'	'
Net Carrying Amount	129.4	125.5
Maximum Exposure to Loss	129.4	125.5
Other investment [Member]	'	'
Carrying amounts and maximum exposure to loss with respect to VIEs	'	'
Net Carrying Amount	0.6	0.6
Maximum Exposure to Loss	$0.60	$0.60

Fair_Value_Disclosure_Details

Fair Value Disclosure (Details) (Fair Value, Measurements, Recurring [Member], USD $)	Mar. 31, 2014		Dec. 31, 2013
In Millions, unless otherwise specified
Assets	'		'
Available for sale equity securities	$4.20		$4.70
Designated as Hedging Instrument [Member]	'		'
Assets	'		'
Interest rate derivatives	4.8	[1]	6	[1]
Liabilities	'		'
Interest rate derivatives	3.1	[1]	0.8	[1]
Not Designated as Hedging Instrument [Member]	'		'
Liabilities	'		'
Interest rate derivatives	0.2	[2]	0.2	[2]
Foreign exchange rate derivatives	2.6	[2]	2.6	[2]
Fair Value, Inputs, Level 1 [Member]	'		'
Assets	'		'
Available for sale equity securities	4.2		4.7
Fair Value, Inputs, Level 1 [Member] | Designated as Hedging Instrument [Member]	'		'
Assets	'		'
Interest rate derivatives	0	[1]	0	[1]
Liabilities	'		'
Interest rate derivatives	0	[1]	0	[1]
Fair Value, Inputs, Level 1 [Member] | Not Designated as Hedging Instrument [Member]	'		'
Liabilities	'		'
Interest rate derivatives	0	[2]	0	[2]
Foreign exchange rate derivatives	0	[2]	0	[2]
Fair Value, Inputs, Level 2 [Member]	'		'
Assets	'		'
Available for sale equity securities	0		0
Fair Value, Inputs, Level 2 [Member] | Designated as Hedging Instrument [Member]	'		'
Assets	'		'
Interest rate derivatives	4.8	[1]	6	[1]
Liabilities	'		'
Interest rate derivatives	3.1	[1]	0.8	[1]
Fair Value, Inputs, Level 2 [Member] | Not Designated as Hedging Instrument [Member]	'		'
Liabilities	'		'
Interest rate derivatives	0.2	[2]	0.2	[2]
Foreign exchange rate derivatives	2.6	[2]	2.6	[2]
Fair Value, Inputs, Level 3 [Member]	'		'
Assets	'		'
Available for sale equity securities	0		0
Fair Value, Inputs, Level 3 [Member] | Designated as Hedging Instrument [Member]	'		'
Assets	'		'
Interest rate derivatives	0	[1]	0	[1]
Liabilities	'		'
Interest rate derivatives	0	[1]	0	[1]
Fair Value, Inputs, Level 3 [Member] | Not Designated as Hedging Instrument [Member]	'		'
Liabilities	'		'
Interest rate derivatives	0	[2]	0	[2]
Foreign exchange rate derivatives	$0	[2]	$0	[2]
[1]	(1) Designated as hedges
[2]	(2) Not designated as hedges

Fair_Value_Disclosure_Details_

Fair Value Disclosure (Details 2) (USD $)	3 Months Ended
In Millions, unless otherwise specified	Mar. 31, 2014		Mar. 31, 2013
Interest Expense [Member] | Fair Value Hedging [Member]	'		'
Impact of GATX's Derivative Instrument on Income Statement and Other comprehensive income (loss)	'		'
Interest expense	$2.10	[1]	$1.10	[1]
Interest Expense [Member] | Cash Flow Hedges [Member]	'		'
Impact of GATX's Derivative Instrument on Income Statement and Other comprehensive income (loss)	'		'
Effective portion reclassified from accumulated other comprehensive loss	1.2		1.2
Other Comprehensive Income (Loss) [Member] | Cash Flow Hedges [Member]	'		'
Impact of GATX's Derivative Instrument on Income Statement and Other comprehensive income (loss)	'		'
Other comprehensive loss (effective portion)	1.8		-0.3
Operating Expense [Member] | Cash Flow Hedges [Member]	'		'
Impact of GATX's Derivative Instrument on Income Statement and Other comprehensive income (loss)	'		'
Effective portion reclassified from accumulated other comprehensive loss	2.4		0.4
Other Expense [Member] | Non-designated [Member]	'		'
Impact of GATX's Derivative Instrument on Income Statement and Other comprehensive income (loss)	'		'
Other expense	$0.10		$0.50
[1]	(1) The fair value adjustments related to the underlying debt equally offset the amounts recognized in interest expense.

Fair_Value_Disclosure_Details_1

Fair Value Disclosure (Details 3) (USD $)	Mar. 31, 2014	Dec. 31, 2013
In Millions, unless otherwise specified
Assets	'	'
Loans	$121.40	$122.70
Carrying Amount [Member]	'	'
Assets	'	'
Investment Funds	1.7	1.7
Loans	121.4	122.7
Liabilities	'	'
Recourse fixed rate debt	3,718.80	2,871.20
Recourse floating rate debt	591.2	894.7
Nonrecourse debt	70.1	72.6
Fair Value [Member]	'	'
Assets	'	'
Investment Funds	3.8	4
Loans	120.2	121.5
Liabilities	'	'
Recourse fixed rate debt	3,851.60	2,994
Recourse floating rate debt	595.4	906.2
Nonrecourse debt	$71.60	$74.70

Fair_Value_Disclosure_Details_2

Fair Value Disclosure (Details Textual) (USD $)	3 Months Ended
In Millions, unless otherwise specified	Mar. 31, 2014	Mar. 31, 2013	Dec. 31, 2013
Derivative [Line Items]	'	'	'
Property, Plant and Equipment, Net	$5,599.80	'	$5,070.30
Asset Impairment Charges	-0.3	-0.9	'
Fair Value Disclosure (Textual) [Abstract]	'	'	'
Derivative Asset, Notional Amount	500	'	200
Derivative, Notional Amount	163.5	'	163.6
Cash Flow Hedge Pre Tax Gain Loss to be Reclassified within Twelve Months	-9.5	'	'
Expected After tax reclassification of net losses from accumulated other comprehensive income to earnings in Next Twelve Months	6	'	'
Aggregate fair value of all derivative instruments with Net liability position	$4.20	'	'
Document Period End Date	31-Mar-14	'	'
Fair Value Hedging [Member]	'	'	'
Fair Value Disclosure (Textual) [Abstract]	'	'	'
Number of instruments, outstanding	6	'	3
Maturity Date Range of Derivative Instruments	'2015 to 2019	'	'
Cash Flow Hedges [Member]	'	'	'
Fair Value Disclosure (Textual) [Abstract]	'	'	'
Number of instruments, outstanding	6	'	6
Maturity Date Range of Derivative Instruments	'2014 to 2020	'	'

Pension_and_Other_PostRetireme2

Pension and Other Post-Retirement Benefits (Details) (USD $)	3 Months Ended
In Millions, unless otherwise specified	Mar. 31, 2014	Mar. 31, 2013
Defined Benefit Pension [Member]	'	'
Defined Benefit Plan Disclosure [Line Items]	'	'
Service cost	$1.40	$1.80
Interest cost	5.1	4.6
Expected return on plan assets	-7.2	-6.9
Unrecognized prior service credit	-0.2	-0.3
Unrecognized net actuarial loss	2.6	3.5
Net expense	1.7	2.7
Retiree Health and Life [Member]	'	'
Defined Benefit Plan Disclosure [Line Items]	'	'
Service cost	0	0.1
Interest cost	0.4	0.4
Expected return on plan assets	0	0
Unrecognized prior service credit	0	0
Unrecognized net actuarial loss	0	0.1
Net expense	$0.40	$0.60

Share_Based_Compensation_Detai

Share Based Compensation (Details Textual) (USD $)	3 Months Ended
In Millions, except Share data, unless otherwise specified	Mar. 31, 2014	Mar. 31, 2013
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]	'	'
Share-based compensation expense	$3.10	$3.20
Tax benefit from share-based compensation expense	$1.20	$1.20
Stock Option SAR Awards [Member]	'	'
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]	'	'
Units granted during period	290,500	'
Restricted Stock and Performance Share Awards [Member]	'	'
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]	'	'
Units granted during period	53,680	'
Performance Shares [Member]	'	'
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]	'	'
Units granted during period	62,670	'
Phantom Stock Units [Member]	'	'
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]	'	'
Units granted during period	4,363	'

Share_Based_Compensation_Weigh

Share Based Compensation - Weighted Average and Assumptions (Details) (USD $)	3 Months Ended
	Mar. 31, 2014
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]	'
Estimated fair value	$18.90
Quarterly dividend rate	$0.33
Expected term of stock appreciation rights, in years	'4 years 4 months 24 days
Risk-free interest rate	1.30%
Dividend yield	2.30%
Expected stock price volatility	30.30%
Present value of dividends	$5.76

Income_Taxes_Details_Textual

Income Taxes (Details Textual) (USD $)	3 Months Ended
In Millions, unless otherwise specified	Mar. 31, 2014	Mar. 31, 2013
Income Tax Disclosure [Abstract]	'	'
Unrecognized Tax Benefits	$5.30	'
Decrease in income tax expenses unrecognized tax benefits if recognized	5.3	'
Decrease in Income Tax Expenses Unrecognized Tax Benefits if Recognized Net of Federal Tax	3.4	'
Reductions due to expiration of the applicable statute of limitations	$0.40	'
Effective Income Tax Rate Reconciliation, Percent	30.00%	29.00%
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent	35.00%	35.00%

Commercial_Commitments_Details

Commercial Commitments (Details) (USD $)	Mar. 31, 2014		Dec. 31, 2013
In Millions, unless otherwise specified
Guarantor Obligations [Line Items]	'		'
Total commercial commitments	$42.20	[1]	$49.80	[1]
Lease payment guarantees [Member]	'		'
Guarantor Obligations [Line Items]	'		'
Total commercial commitments	33.1		34.8
Asset residual value guarantees [Member]	'		'
Guarantor Obligations [Line Items]	'		'
Total commercial commitments	0		5.6
Standby letters of credit [Member]	'		'
Guarantor Obligations [Line Items]	'		'
Total commercial commitments	8.7		8.8
Performance bonds [Member]	'		'
Guarantor Obligations [Line Items]	'		'
Total commercial commitments	$0.40		$0.60
[1]	(1) The carrying value of liabilities on the balance sheet for commercial commitments was $6.0 million at March 31, 2014 and $6.2 million at December 31, 2013. The expirations of these commitments range from 2014 to 2023. We are not aware of any event that would require us to satisfy any of our commitments.

Commercial_Commitments_Details1

Commercial Commitments (Details Textual) (USD $)	3 Months Ended
In Millions, unless otherwise specified	Mar. 31, 2014	Dec. 31, 2013
Guarantees [Abstract]	'	'
Amount of liability included in recorded value of the company's commitment	$6	$6.20
Expiration of commitment range	'2014 to 2023	'

Earnings_Per_Share_Details

Earnings Per Share (Details) (USD $)	3 Months Ended
In Millions, except Per Share data, unless otherwise specified	Mar. 31, 2014	Mar. 31, 2013
Numerator:	'	'
Net income	$42.10	$27.10
Denominator:	'	'
Denominator for basic earnings per share — weighted average shares	46	46.9
Effect of dilutive securities:	'	'
Equity compensation plans	0.8	0.7
Convertible preferred stock	0	0.1
Denominator for diluted earnings per share — adjusted weighted average and assumed conversion	46.8	47.7
Basic earnings per share (in dollars per share)	$0.92	$0.58
Diluted earnings per share (in dollars per share)	$0.90	$0.57

Accumulated_Other_Comprehensiv2

Accumulated Other Comprehensive Income (Loss) (Details) (USD $)	3 Months Ended
In Millions, unless otherwise specified	Mar. 31, 2014	Dec. 31, 2013
Equity [Abstract]	'	'
Beginning Balance, Foreign Currency Translation Gain (Loss)	$57.20	'
Change in Foreign Currency Translation Gain (Loss)	0.7	'
Foreign currency translation gain loss before reclassification adjustment into earnings	0	'
Foreign Currency Translation Gain (Loss), Income tax effect	0	'
Ending Balance, Foreign Currency Translation Gain (Loss)	57.9	'
Beginning Balance, Unrealized Gain (Loss) on Securities	0.4	'
Change in Unrealized Gain (Loss) on Securities	-0.5	'
Unrealized Gain (Loss) on Securities, Reclassification adjustments into earnings	0	'
Unrealized Gain (Loss) on Securities, Income tax effect	0.3	'
Ending Balance, Unrealized Gain (Loss) on Securities	0.2	'
Beginning Balance, Unrealized Loss on Derivative Instruments	-22.1	'
Change in Unrealized Loss on Derivative Instruments	-2.2	'
Unrealized Loss on Derivative Instruments, Reclassification adjustments into earnings	3.6	'
Unrealized Loss on Derivative Instruments, Income tax effect	-0.7	'
Ending Balance, Unrealized Loss on Derivative Instruments	-21.4	'
Beginning Balance, Post-Retirement Benefit Plans	-78.2	'
Change in Post-Retirement Benefit Plans	0	'
Post-Retirement Benefit Plans, Reclassification adjustments into earnings	2.4	'
Post-Retirement Benefit Plans, Income tax effect	-1	'
Ending Balance, Post-Retirement Benefit Plans	-76.8	'
Other Comprehensive Income Change in Component	-2	'
Reclassification adjustments into earnings, Total	6	'
Income tax effect, Total	-1.4	'
Accumulated other comprehensive income (loss), net of tax	($40.10)	($42.70)

Legal_Proceedings_and_Other_Co1

Legal Proceedings and Other Contingencies (Details) (Viareggio [Member], USD $)	3 Months Ended
In Millions, unless otherwise specified	Mar. 31, 2014	Oct. 02, 2013	Dec. 14, 2012	Jun. 29, 2009
	case	Insurance_Provider	Corporations
			Employee
Loss Contingencies [Line Items]	'	'	'	'
Number of casualties	'	'	'	32
Number of subsidiaries	'	'	2	'
Number of Maintenance and Supervisory employees	'	'	10	'
Number of Italian railway companies	'	'	4	'
Number of employees	'	'	18	'
Number of insurers	'	4	'	'
Asbestos - related cases pending against the company and its subsidiaries	90	'	'	'
Court Proceedings	1	'	'	'
Legal Fees	$0	'	'	'
Percentage of coverage held by Liberty Mutual Insurance Europe Limited	'	25.00%	'	'
Derailed [Member]	'	'	'	'
Loss Contingencies [Line Items]	'	'	'	'
number of railcars	'	'	'	14
Overturned [Member]	'	'	'	'
Loss Contingencies [Line Items]	'	'	'	'
number of railcars	'	'	'	5
Punctured and Ignited [Member]	'	'	'	'
Loss Contingencies [Line Items]	'	'	'	'
number of railcars	'	'	'	1

Financial_Data_of_Business_Seg2

Financial Data of Business Segments (Details) (USD $)	3 Months Ended
In Millions, unless otherwise specified	Mar. 31, 2014	Mar. 31, 2013	Dec. 31, 2013
	Segment
Segment Reporting Information [Line Items]	'	'	'
Provision for Income Taxes, Equity Method Investment	$4.20	$4.10	'
Number of business segments	4	'	'
Profitability	'	'	'
Lease revenue	250.6	237.2	'
Marine operating revenue	17.7	18.5	'
Other revenue	18.3	16.6	'
Total Revenues	286.6	272.3	'
Maintenance expense	73.1	66.7	'
Marine operating expense	15	16.6	'
Depreciation	58.7	57.9	'
Operating lease expense	26.9	32.3	'
Other operating expense	6.6	5.3	'
Total Expenses	180.3	178.8	'
Net gain on asset dispositions	28.1	16.7	'
Interest expense, net	-42	-40.9	'
Other (expense) income	-3.4	-1.1	'
Share of affiliates' earnings (pre-tax)	14.1	12.5	'
Segment profit (loss)	103.1	80.7	'
SG&A	42.7	42	'
Income tax benefit	14.1	7.5	'
Net Income	42.1	27.1	'
Capital Expenditures	'	'	'
Portfolio investments and capital additions	445.5	149.9	'
Selected Balance Sheet Data	'	'	'
Investments in affiliated companies	348.5	354.3	354.3
Identifiable assets	7,119	6,549.60	6,549.60
Disposition Gains on Owned Assets	21.6	5.8	'
Nonoperating Income, Residual Sharing Income	1.8	3.9	'
Nonremarketing Disposition Gain (Loss)	5	7.9	'
Asset Impairment Charges	-0.3	-0.9	'
Rail North America [Member]	'	'	'
Segment Reporting Information [Line Items]	'	'	'
Leverage level expressed as a ratio of recourse debt to equity	5	'	'
Profitability	'	'	'
Lease revenue	194.9	183.8	'
Marine operating revenue	0	0	'
Other revenue	14.6	13.8	'
Total Revenues	209.5	197.6	'
Maintenance expense	61.4	54.6	'
Marine operating expense	0	0	'
Depreciation	41.5	42.3	'
Operating lease expense	26.9	32.3	'
Other operating expense	4.8	4	'
Total Expenses	134.6	133.2	'
Net gain on asset dispositions	24.8	10.2	'
Interest expense, net	-24.6	-25.7	'
Other (expense) income	-3.4	-0.8	'
Share of affiliates' earnings (pre-tax)	3.3	2.2	'
Segment profit (loss)	75	50.3	'
Capital Expenditures	'	'	'
Portfolio investments and capital additions	-396	85.7	'
Selected Balance Sheet Data	'	'	'
Investments in affiliated companies	21.9	31.4	'
Identifiable assets	4,186.80	3,710.50	'
Disposition Gains on Owned Assets	21.6	1.6	'
Nonoperating Income, Residual Sharing Income	0.6	2.8	'
Nonremarketing Disposition Gain (Loss)	2.6	6.5	'
Asset Impairment Charges	0	-0.7	'
Rail International [Member]	'	'	'
Segment Reporting Information [Line Items]	'	'	'
Leverage level expressed as a ratio of recourse debt to equity	2	'	'
Profitability	'	'	'
Lease revenue	47.2	43	'
Marine operating revenue	0	0	'
Other revenue	2	2.2	'
Total Revenues	49.2	45.2	'
Maintenance expense	11.5	11.5	'
Marine operating expense	0	0	'
Depreciation	11.7	10.1	'
Operating lease expense	0	0	'
Other operating expense	1.4	0.9	'
Total Expenses	24.6	22.5	'
Net gain on asset dispositions	2.4	1.2	'
Interest expense, net	-6.2	-5.6	'
Other (expense) income	0	0.5	'
Share of affiliates' earnings (pre-tax)	-0.1	-0.2	'
Segment profit (loss)	20.7	18.6	'
Capital Expenditures	'	'	'
Portfolio investments and capital additions	-39.3	44.3	'
Selected Balance Sheet Data	'	'	'
Investments in affiliated companies	1.9	2	'
Identifiable assets	1,327.10	1,297.10	'
Disposition Gains on Owned Assets	0	0	'
Nonoperating Income, Residual Sharing Income	0	0	'
Nonremarketing Disposition Gain (Loss)	2.4	1.4	'
Asset Impairment Charges	0	-0.2	'
ASC [Member]	'	'	'
Segment Reporting Information [Line Items]	'	'	'
Leverage level expressed as a ratio of recourse debt to equity	1.5	'	'
Profitability	'	'	'
Lease revenue	1.1	1.1	'
Marine operating revenue	3.1	12.3	'
Other revenue	0	0	'
Total Revenues	4.2	13.4	'
Maintenance expense	0.2	0.6	'
Marine operating expense	3.4	9.8	'
Depreciation	0	0	'
Operating lease expense	0	0	'
Other operating expense	0	0	'
Total Expenses	3.6	10.4	'
Net gain on asset dispositions	-0.4	0	'
Interest expense, net	-1.4	-1.6	'
Other (expense) income	0	-0.6	'
Share of affiliates' earnings (pre-tax)	0	0	'
Segment profit (loss)	-1.2	0.8	'
Capital Expenditures	'	'	'
Portfolio investments and capital additions	-8.3	3.2	'
Selected Balance Sheet Data	'	'	'
Investments in affiliated companies	0	0	'
Identifiable assets	267.1	271	'
Disposition Gains on Owned Assets	0	0	'
Nonoperating Income, Residual Sharing Income	0	0	'
Nonremarketing Disposition Gain (Loss)	0	0	'
Asset Impairment Charges	-0.4	0	'
Portfolio Management [Member]	'	'	'
Segment Reporting Information [Line Items]	'	'	'
Leverage level expressed as a ratio of recourse debt to equity	3	'	'
Profitability	'	'	'
Lease revenue	7.4	9.3	'
Marine operating revenue	14.6	6.2	'
Other revenue	1.7	0.6	'
Total Revenues	23.7	16.1	'
Maintenance expense	0	0	'
Marine operating expense	11.6	6.8	'
Depreciation	5.5	5.5	'
Operating lease expense	0	0	'
Other operating expense	0.4	0.4	'
Total Expenses	17.5	12.7	'
Net gain on asset dispositions	1.3	5.3	'
Interest expense, net	-6.8	-6.7	'
Other (expense) income	0.3	0	'
Share of affiliates' earnings (pre-tax)	10.9	10.5	'
Segment profit (loss)	11.9	12.5	'
Capital Expenditures	'	'	'
Portfolio investments and capital additions	0	16	'
Selected Balance Sheet Data	'	'	'
Investments in affiliated companies	324.7	320.9	'
Identifiable assets	854.6	856.9	'
Disposition Gains on Owned Assets	0	4.2	'
Nonoperating Income, Residual Sharing Income	1.2	1.1	'
Nonremarketing Disposition Gain (Loss)	0	0	'
Asset Impairment Charges	0.1	0	'
Other [Member]	'	'	'
Profitability	'	'	'
Lease revenue	0	0	'
Marine operating revenue	0	0	'
Other revenue	0	0	'
Total Revenues	0	0	'
Maintenance expense	0	0	'
Marine operating expense	0	0	'
Depreciation	0	0	'
Operating lease expense	0	0	'
Other operating expense	0	0	'
Total Expenses	0	0	'
Net gain on asset dispositions	0	0	'
Interest expense, net	-3	-1.3	'
Other (expense) income	-0.3	-0.2	'
Share of affiliates' earnings (pre-tax)	0	0	'
Segment profit (loss)	-3.3	-1.5	'
Capital Expenditures	'	'	'
Portfolio investments and capital additions	-1.9	0.7	'
Selected Balance Sheet Data	'	'	'
Investments in affiliated companies	0	0	'
Identifiable assets	483.4	414.1	'
Disposition Gains on Owned Assets	0	0	'
Nonoperating Income, Residual Sharing Income	0	0	'
Nonremarketing Disposition Gain (Loss)	0	0	'
Asset Impairment Charges	0	0	'
Parent [Member]	'	'	'
Profitability	'	'	'
Income tax benefit	$18.30	$11.60	'