GATX (GATX) 10-Q 31 Oct 16 2016 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information shares in Millions	9 Months Ended
	Sep. 30, 2016shares
Document and Entity Information [Abstract]
Entity Registrant Name	GATX Corporation
Entity Central Index Key	40,211
Document Type	10-Q
Document Period End Date	Sep. 30, 2016
Amendment Flag	false
Document Fiscal Year Focus	2,016
Document Fiscal Period Focus	Q3
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	39.9

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Millions	Sep. 30, 2016	Dec. 31, 2015
Assets
Cash and Cash Equivalents	$ 211.5	$ 202.4
Restricted Cash	4.4	17.3
Receivables
Rent and other receivables	85.8	69.4
Loans	6.7	8.8
Finance leases	158.7	167.6
Less: allowance for losses	(14.2)	(10.3)
Receivables, net	237	235.5
Operating Assets and Facilities
Operating Assets and Facilities ($0 and $122.9 related to a consolidated VIE)	8,545.4	8,204
Less: allowance for depreciation ($0 and $39.7 related to a consolidated VIE)	(2,633.4)	(2,505.6)
Operating assets and facilities, net	5,912	5,698.4
Investments in Affiliated Companies	376.8	348.5
Goodwill	81.7	79.7
Other Assets	265.9	312.4
Total Assets	7,089.3	6,894.2
Liabilities and Shareholders’ Equity
Accounts Payable and Accrued Expenses	146.4	170.9
Debt
Commercial paper and borrowings under bank credit facilities	5.1	7.4
Recourse	4,204.4	4,171.5
Nonrecourse ($0 and $6.9 related to a consolidated VIE)	0	6.9
Capital lease obligations	15.1	18.4
Total Debt	4,224.6	4,204.2
Deferred Income Taxes	1,104	1,018.3
Other Liabilities	242.8	220.6
Total Liabilities	5,717.8	5,614
Shareholders’ Equity
Common stock, $0.625 par value: Authorized shares — 120,000,000 Issued shares — 66,891,983 and 66,776,290 Outstanding shares — 39,880,034 and 41,970,098	41.5	41.5
Additional paid in capital	681.5	677.4
Retained earnings	1,813.6	1,639
Accumulated other comprehensive loss	(191.1)	(198.8)
Treasury stock at cost (27,011,949 and 24,806,192 shares)	974	878.9
Total Shareholders’ Equity	1,371.5	1,280.2
Total Liabilities and Shareholders’ Equity	$ 7,089.3	$ 6,894.2

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Millions	Sep. 30, 2016	Dec. 31, 2015
Operating Assets and Facilities ($0 and $123.3 related to a consolidated VIE)	$ 8,545.4	$ 8,204
Less: allowance for depreciation ($0 and $39.7 related to a consolidated VIE)	(2,633.4)	(2,505.6)
Nonrecourse ($0 and $6.9 related to a consolidated VIE)	$ 0	$ 6.9
Common stock, par value	$ 0.625	$ 0.625
Common stock, shares authorized	120,000,000	120,000,000
Common stock, shares issued	66,891,983	66,776,290
Common stock, shares outstanding	39,880,034	41,970,098
Treasury stock, shares outstanding	27,011,949	24,806,192
Variable Interest Entity, Primary Beneficiary [Member]
Operating Assets and Facilities ($0 and $123.3 related to a consolidated VIE)	$ 0	$ 122.9
Less: allowance for depreciation ($0 and $39.7 related to a consolidated VIE)	0	(39.7)
Nonrecourse ($0 and $6.9 related to a consolidated VIE)	$ 0	$ 6.9

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income Statement - USD ($) shares in Millions, $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Lease Income	$ 281.8	$ 286.2	$ 847.5	$ 845.1
Cargo and Freight Revenue	62.1	77.6	139.7	167.8
Other Nonoperating Income	19	22.4	69	58.3
Revenues	362.9	386.2	1,056.2	1,071.2
Cost of Property Repairs and Maintenance	79.6	83.9	244.6	242.4
Marine Operating Expense	39.2	48.5	88.9	114.7
Depreciation, Nonproduction	75.9	75	221	217.9
Operating Leases, Rent Expense, Net	19.2	22.3	54.5	65.4
Other Cost and Expense, Operating	10.1	8.3	33.7	23.4
Selling, General and Administrative Expense	48.1	44.4	127.8	134.7
Operating Expenses	272.1	282.4	770.5	798.5
Gain (Loss) on Sale of Assets and Asset Impairment Charges	62.7	(4.5)	122.8	49.5
Interest Income (Expense), Net	(36.2)	(37.7)	(109.9)	(117.1)
Other Nonoperating Income (Expense)	4.3	(3.1)	(2.9)	(8.7)
Income (Loss) from Continuing Operations before Equity Method Investments, Income Taxes, Extraordinary Items, Noncontrolling Interest	121.6	58.5	295.7	196.4
Income Tax Expense (Benefit)	(41.1)	(20.3)	(98.6)	(68.1)
Income (Loss) from Equity Method Investments	15.2	1.3	29.1	18.8
Net income	95.7	39.5	226.2	147.1
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Gain (Loss) Arising During Period, Net of Tax	11	(2.9)	16.2	(39.4)
Other Comprehensive Income (Loss), Unrealized Holding Gain (Loss) on Securities Arising During Period, Net of Tax	1.3	(0.3)	1.6	(0.4)
Other Comprehensive Income (Loss), Unrealized Gain (Loss) on Derivatives Arising During Period, Net of Tax	0.5	2.5	(6.8)	0
Other Comprehensive (Income) Loss, Pension and Other Postretirement Benefit Plans, Adjustment, Net of Tax	(6)	2.1	(3.3)	6.3
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent	6.8	1.4	7.7	(33.5)
Comprehensive Income (Loss), Net of Tax, Attributable to Parent	$ 102.5	$ 40.9	$ 233.9	$ 113.6
Earnings Per Share, Basic	$ 2.39	$ 0.92	$ 5.55	$ 3.38
Weighted Average Number of Shares Outstanding, Basic	40.1	42.8	40.7	43.5
Earnings Per Share, Diluted	$ 2.36	$ 0.91	$ 5.49	$ 3.33
Weighted Average Number of Shares Outstanding, Diluted	40.6	43.4	41.2	44.1
Common Stock, Dividends, Per Share, Declared	$ 0.40	$ 0.38	$ 1.20	$ 1.14

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015
Operating Activities
Net income	$ 226.2	$ 147.1
Depreciation expense	230.6	227.4
Change in Accrued Operating Lease Expense	(11)	(38)
Gains on sales of assets	(41.3)	(69.7)
Asset impairment	1.8	31.2
Deferred income taxes	83.6	55.8
Share of affiliates’ earnings, net of dividends	(29)	(18.6)
Other	(27.9)	(23.2)
Net cash provided by operating activities	433	312
Investing Activities
Portfolio Investments and Capital Additions	(442.6)	(498.3)
Purchases of leased-in assets	(116.5)	(118.4)
Portfolio proceeds	170.6	298.2
Proceeds from sales of other assets	18.6	16.2
Sale Leaseback Transaction, Net Proceeds, Investing Activities	82.5	0
Net decrease (increase) in restricted cash	12.9	(1)
Other	0	9.7
Net cash used in investing activities	(274.5)	(293.6)
Financing Activities
Net proceeds from issuances of debt (original maturities longer than 90 days)	801.8	748.8
Repayments of debt (original maturities longer than 90 days)	(798.7)	(649.4)
Net increase (decrease) in debt with original maturities of 90 days or less	(2.5)	(54)
Stock repurchases	(95.1)	(105)
Dividends	(51.2)	(51.9)
Other	(3.5)	3.7
Net cash (used in) provided by financing activities	(149.2)	(107.8)
Effect of Exchange Rate Changes on Cash and Cash Equivalents	(0.2)	(4.5)
Net increase (decrease) in Cash and Cash Equivalents	9.1	(93.9)
Cash and Cash Equivalents at beginning of period	202.4	209.9
Cash and Cash Equivalents at end of period	$ 211.5	$ 116

Description of Business

Description of Business	9 Months Ended
	Sep. 30, 2016
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 market. 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

Basis of Presentation Basis of Presentation (Notes)	9 Months Ended
	Sep. 30, 2016
Accounting Policies [Abstract]
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 nine months ended September 30, 2016 , are not necessarily indicative of the results we may achieve for the entire year ending December 31, 2016. 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, 2015. Accounting Changes Change in Accounting Estimate At the end of 2015, we changed the approach used to measure service and interest costs for pension and other postretirement benefits. In prior years, we measured service and interest costs utilizing a single weighted-average discount rate derived from the yield curve used to measure the plan obligations. For 2016, we measured service and interest costs by applying the specific spot rates along that yield curve to the plans’ liability cash flows. We believe this approach provides a more precise measurement of service and interest costs by aligning the timing of the plans’ liability cash flows to the corresponding spot rates on the yield curve. This change does not affect the measurement of our plan obligations. We have accounted for this change as a change in accounting estimate and, accordingly, have applied it on a prospective basis. Our adoption of the full yield curve approach will reduce 2016 service and interest cost by approximately $4.5 million ( $2.8 million after-tax) as compared to the previous method. New Accounting Pronouncements Adopted Consolidation In February 2015, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") 2015-02, Consolidation (Topic 810) Amendments to the Consolidation Analysis , which amends the analysis required to determine whether to consolidate certain types of legal entities such as limited partnerships, limited liability corporations, and certain securitization structures. The new guidance was effective for us beginning in the first quarter of 2016. Application of the new guidance did not impact our financial statements or related disclosures. Business Combinations In September 2015, the FASB issued ASU 2015-16, Business Combinations (Topic 805), Simplifying the Accounting for Measurement-Period Adjustments, which requires the acquirer in a business combination to recognize measurement-period adjustments in the period in which it determines the amount of the adjustment. The new guidance was effective for us in the first quarter of 2016. Application of the new guidance did not impact our financial statements or related disclosures. New Accounting Pronouncements Not Yet Adopted Revenue from Contracts with Customers In May 2014, the FASB issued ASU 2014-09, Revenue from Contracts with Customers (Topic 606) , which supersedes most current revenue recognition guidance, including industry-specific guidance. Subsequently, the FASB has issued updates which provide additional implementation guidance. The new guidance requires companies to recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration it expects to be entitled to in exchange for those goods or services. The FASB delayed the effective date of this guidance to the first quarter of 2018, with early adoption permitted as of the original effective date of the first quarter of 2017. We can adopt the new guidance using either the retrospective method or the cumulative effect transition method. We are evaluating the effect that the new guidance will have on our consolidated financial statements and related disclosures and when we will elect to adopt this standard. Leases In February 2016, the FASB issued ASU 2016-02, Leases (Topic 842) , which supersedes most current lease guidance. The new guidance requires companies to recognize most leases on the balance sheet and modifies accounting, presentation, and disclosure for both lessors and lessees. The new guidance is effective for us in the first quarter of 2019 with early adoption permitted, using a modified retrospective transition method. We are evaluating the effect that the new guidance will have on our consolidated financial statements and related disclosures and when we will elect to adopt this standard. Financial Instruments In January 2016, the FASB issued ASU 2016-01 , Financial Instruments - Overall: Recognition and Measurement of Financial Assets and Financial Liabilities, which modifies the accounting and reporting requirements for certain equity securities and financial liabilities. The new guidance is effective for us beginning in the first quarter of 2018 with certain provisions eligible for early adoption. We do not expect the new guidance to have a significant impact on our financial statements or related disclosures. Equity Method and Joint Ventures In March 2016, the FASB issued ASU 2016-07, Investments - Equity Method and Joint Ventures (Topic 323): Simplifying the Transition to the Equity Method of Accounting , which eliminates the requirement to retrospectively apply equity method accounting when an entity increases ownership or influence in a previously held investment. The new guidance is effective for us in the first quarter of 2017 with early adoption permitted. We do not expect the new guidance to impact our financial statements or related disclosures. Stock Compensation In March 2016, the FASB issued ASU 2016-09, Compensation - Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting, which simplifies and clarifies certain aspects of share-based payment accounting and presentation. The new guidance is effective for us in the first quarter of 2017 with early adoption permitted. We do not expect the guidance to impact our financial statements or related disclosures. Credit Losses In June 2016, the FASB issued ASU 2016-13, Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments, which modifies how entities will measure credit losses. The new guidance is effective for us in the first quarter of 2020 with early adoption permitted. We are evaluating the effect that the new guidance will have on our financial statements and related disclosures. Statement of Cash Flows Classification In August 2016, the FASB issued ASU 2016-15, Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts and Cash Payments, which clarifies the classification of certain cash receipts and payments in the statement of cash flows. The new guidance is effective for us in the first quarter of 2018 with early adoption permitted. We do not expect the new guidance to have a significant impact on our financial statements or related disclosures.

Variable Interest Entities

Variable Interest Entities	9 Months Ended
	Sep. 30, 2016
Variable Interest Entity, Not Primary Beneficiary, Disclosures [Abstract]
Variable Interest Entities	Variable Interest Entities In prior periods, we were the primary beneficiary of one of our variable interest entities, a structured lease financing of a portfolio of railcars, because we had the power to direct its significant activities. As a result, we consolidated this variable interest entity. During the third quarter of 2016, the Company took full ownership of all assets, repaid the associated debt, and dissolved this entity. The following table shows the carrying amounts of assets and liabilities of the consolidated variable interest entity (in millions): September 30 2016 December 31 2015 Operating assets, net of accumulated depreciation (1) $ — $ 83.2 Nonrecourse debt — 6.9 _________ (1) All operating assets were 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 aircraft spare engine 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. Rather, 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): September 30, 2016 December 31, 2015 Net Carrying Amount Maximum Exposure to Loss Net Carrying Amount Maximum Exposure to Loss Investments in affiliates $ 176.4 $ 176.4 $ 161.2 $ 161.2 Other investment 0.1 0.1 0.2 0.2 Total $ 176.5 $ 176.5 $ 161.4 $ 161.4

Fair Value Disclosure

Fair Value Disclosure	9 Months Ended
	Sep. 30, 2016
Fair Value Disclosures [Abstract]
Fair Value Disclosures [Text Block]	Fair Value Disclosure The following tables show our assets and liabilities that are measured at fair value on a recurring basis (in millions): Assets September 30 2016 Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Interest rate derivatives (1) $ 4.8 $ — $ 4.8 $ — Foreign exchange rate derivatives (1) 6.7 — 6.7 — Available-for-sale equity securities 6.0 6.0 — — Liabilities Interest rate derivatives (1) 5.0 — 5.0 — Foreign exchange rate derivatives (1) 9.4 — 9.4 — Foreign exchange rate derivatives (2) 1.5 — 1.5 — Assets December 31 2015 Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Observable Inputs (Level 2) Significant Interest rate derivatives (1) $ 1.8 $ — $ 1.8 $ — Foreign exchange rate derivatives (1) 10.2 — 10.2 — Foreign exchange rate derivatives (2) 0.8 — 0.8 — Available-for-sale equity securities 3.3 3.3 — — Liabilities Interest rate derivatives (1) 1.2 — 1.2 — Foreign exchange rate derivatives (1) 0.2 — 0.2 — Foreign exchange rate derivatives (2) 2.4 — 2.4 — _________ (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 foreign currency rates) 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 eight instruments outstanding with an aggregate notional amount of $550.0 million as of September 30, 2016 and December 31, 2015 that mature from 2017 to 2020 . Cash Flow Hedges We use interest rate swaps to convert floating rate debt to fixed rate debt, and we use Treasury rate locks to hedge our exposure to interest rate risk on anticipated transactions. We also use currency swaps to hedge our exposure to fluctuations in the exchange rates of the foreign currencies in which we conduct business. We had sixteen instruments outstanding with an aggregate notional amount of $471.6 million as of September 30, 2016 that mature from 2016 to 2022 , and ten instruments outstanding with an aggregate notional amount of $442.9 million as of December 31, 2015. Within the next 12 months, we expect to reclassify $5.6 million ( $3.5 million after-tax) of net losses on previously terminated derivatives from accumulated other comprehensive income (loss) to interest expense or operating lease expense, as applicable. We reclassify these amounts when interest expense 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 September 30, 2016 , was $14.4 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 statements of comprehensive income (in millions): Three Months Ended Nine Months Ended September 30 Derivative Designation Location of Loss (Gain) Recognized 2016 2015 2016 2015 Fair value hedges (1) Interest expense $ 2.6 $ (4.4 ) $ (3.3 ) $ (5.3 ) Cash flow hedges Other comprehensive (income) loss (effective portion) (2.8 ) (0.5 ) (26.8 ) 2.0 Cash flow hedges Interest expense (effective portion reclassified from accumulated other comprehensive loss) 1.7 1.4 5.1 4.1 Cash flow hedges Operating lease expense (effective portion reclassified from accumulated other comprehensive loss) 0.7 0.1 1.1 0.3 Cash flow hedges (2) Other (income) expense (effective portion reclassified from accumulated other comprehensive loss) 3.3 0.8 13.6 5.0 Non-designated (3) Other (income) expense 2.2 (0.6 ) (0.1 ) (6.4 ) _________ (1) The fair value adjustments related to the underlying debt equally offset amounts recognized in interest expense. (2) Includes $4.2 million and $11.0 million of losses for the three and nine months ended September 30, 2016, and $0.8 million and $3.5 million of losses for the three and nine months ended September 30, 2015, on foreign currency derivatives which are substantially offset by gains from foreign currency remeasurement adjustments, also recognized in Other (income) expense. (3) For the nine months ended September 30, 2015, includes $5.1 million of gains on foreign currency derivatives which are substantially offset by losses from foreign currency remeasurement adjustments on the outstanding AAE loan, also recognized in Other (income) 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 estimated fair values for these investments are classified in Level 2 of the fair value hierarchy because they are based on directly or indirectly observable inputs. The following table shows the carrying amounts and fair values of our other financial instruments (in millions): September 30, 2016 December 31, 2015 Carrying Amount Fair Value Carrying Amount Fair Value Assets Investment funds $ 0.6 $ 1.3 $ 0.6 $ 1.2 Loans 6.7 6.7 8.8 8.7 Liabilities Recourse fixed rate debt (1) $ 3,868.2 $ 3,996.4 $ 3,915.0 $ 3,882.6 Recourse floating rate debt (1) 360.0 352.0 275.2 264.6 Nonrecourse debt — — 6.9 7.1 _________ (1) Excludes related deferred financing costs.
Fair Value Disclosure	The following table shows the carrying amounts and fair values of our other financial instruments (in millions): September 30, 2016 December 31, 2015 Carrying Amount Fair Value Carrying Amount Fair Value Assets Investment funds $ 0.6 $ 1.3 $ 0.6 $ 1.2 Loans 6.7 6.7 8.8 8.7 Liabilities Recourse fixed rate debt (1) $ 3,868.2 $ 3,996.4 $ 3,915.0 $ 3,882.6 Recourse floating rate debt (1) 360.0 352.0 275.2 264.6 Nonrecourse debt — — 6.9 7.1 _________ (1) Excludes related deferred financing costs.

Assets Held For Sale Assets Hel

Assets Held For Sale Assets Held For Sale (Notes)	9 Months Ended
	Sep. 30, 2016
Asset Impairment [Abstract]
Disclosure of Long Lived Assets Held-for-sale [Table Text Block]	NOTE 5. Assets Held For Sale During the third quarter of 2015, we made the decision to exit the majority of our marine investments within the Portfolio Management segment, including six chemical parcel tankers (the "Nordic Vessels"), most of the inland marine vessels, and our 50% interest in the Cardinal Marine joint venture. At that time, the Nordic Vessels and the inland marine vessels were classified as held for sale and adjusted to the lower of their respective carrying amounts or fair value less costs to dispose. Subsequently, certain of these marine investments were sold during the fourth quarter of 2015, including one of the Nordic Vessels. In the first nine months of 2016, we sold additional marine assets, including three of the Nordic Vessels. Proceeds from the sales of Portfolio Management marine assets completed in the first nine months of 2016, including those designated as held for sale, were $49.4 million , resulting in a gain of $4.2 million . We also recognized a gain of $1.0 million resulting from additional proceeds received from the sale of the Cardinal Marine joint venture and recorded additional impairment losses of $1.8 million for certain of the remaining marine assets held for sale. We based the fair values of these assets on our estimate of the expected proceeds less costs to sell. As of September 30, 2016 and December 31, 2015, we had $62.1 million and $106.0 million of assets classified as held for sale on the balance sheet, including $60.5 million and $103.4 million of marine assets held in the Portfolio Management segment.

Pension and Other Post-Retireme

Pension and Other Post-Retirement Benefits	9 Months Ended
	Sep. 30, 2016
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 September 30, 2016 and 2015 (in millions): 2016 Pension 2015 Pension 2016 Retiree 2015 Retiree Service cost $ 1.5 $ 1.9 $ 0.1 $ 0.1 Interest cost 3.9 4.9 0.2 0.3 Expected return on plan assets (6.5 ) (6.4 ) — — Settlement accounting adjustment 5.7 — — — Amortization of (1): Unrecognized prior service credit (0.2 ) (0.3 ) (0.1 ) (0.1 ) Unrecognized net actuarial loss 2.6 3.7 — — Net expense $ 7.0 $ 3.8 $ 0.2 $ 0.3 The following table shows components of our pension and other post-retirement benefits expense for the nine months ended September 30, 2016 and 2015 (in millions): 2016 Pension 2015 Pension 2016 Retiree 2015 Retiree Service cost $ 4.5 $ 5.6 $ 0.2 $ 0.2 Interest cost 11.8 14.8 0.7 1.0 Expected return on plan assets (19.5 ) (19.3 ) — — Settlement accounting adjustment 5.7 — — — Amortization of (1): Unrecognized prior service credit (0.7 ) (0.8 ) (0.2 ) (0.2 ) Unrecognized net actuarial loss (gain) 7.7 11.1 (0.2 ) — Net expense $ 9.5 $ 11.4 $ 0.5 $ 1.0 ________ (1) Amounts reclassified from accumulated other comprehensive loss. Pension expense in 2016 was positively impacted by a prospective change in accounting estimate. See "Note 2. Basis of Presentation" for further details about this change in accounting estimate. In addition, during the third quarter of 2016, we recorded a settlement accounting adjustment of $5.7 million attributable to lump sum payments elected by eligible retirees as part of a voluntary early retirement program offered in 2015.

Share-Based Compensation

Share-Based Compensation	9 Months Ended
	Sep. 30, 2016
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Share-Based Compensation	Share-Based Compensation During the nine months ended September 30, 2016 , we granted 466,900 stock options, 83,100 restricted stock units, 95,100 performance shares, and 22,052 phantom stock units. For the three and nine months ended September 30, 2016 , total share-based compensation expense was $ 3.2 million and $9.1 million and the related tax benefits were $ 1.3 million and $3.5 million . For the three and nine months ended September 30, 2015 , total share-based compensation expense was $ 2.8 million and $8.9 million and the related tax benefits were $ 1.1 million and $3.4 million . The estimated fair value of our 2016 stock option awards and related underlying assumptions are shown in the table below. 2016 Estimated fair value $ 13.86 Quarterly dividend rate $ 0.40 Expected term of stock option awards, in years 4.7 Risk-free interest rate 1.4 % Dividend yield 4.1 % Expected stock price volatility 29.4 % Present value of dividends $ 7.27

Income Taxes

Income Taxes	9 Months Ended
	Sep. 30, 2016
Income Tax Disclosure [Abstract]
Income Taxes	fective tax rate was 33% for the nine months ended September 30, 2016 , compared to 35% for the nine months ended September 30, 2015 . The difference in the effective rates for the current year compared to prior year is primarily attributable to the mix of pretax income among domestic and foreign jurisdictions which are taxed at different rates. As of September 30, 2016 , our gross liability for unrecognized tax benefits was $4.3 million . If fully recognized, these tax benefits would decrease our income tax expense by $4.3 million ( $2.8 million , net of federal tax). During the nine months ended September 30, 2016, we reduced our unrecognized tax benefit by $1.4 million based on a final determination ruling for a disputed state tax filing position. None of this amount was recognized in net income. We do not anticipate the recognition of tax benefits that were previously unrecognized within the next 12 months.

Commercial Commitments

Commercial Commitments	9 Months Ended
	Sep. 30, 2016
Guarantees [Abstract]
Commercial Commitments	Commercial Commitments We have entered into various commercial commitments, such as guarantees, standby letters of credit, and performance bonds, 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): September 30 December 31 Lease payment guarantees $ 16.3 $ 22.1 Standby letters of credit and performance bonds 8.9 8.9 Total commercial commitments (1) $ 25.2 $ 31.0 _________ (1) The carrying value of liabilities on the balance sheet for commercial commitments was $3.3 million at September 30, 2016 and $4.1 million at December 31, 2015. The expirations of these commitments range from 2017 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.

Earnings Per Share

Earnings Per Share	9 Months Ended
	Sep. 30, 2016
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 for the portion of the period that they were outstanding. Our diluted earnings per share reflect the impacts of our potentially dilutive securities, which include our equity compensation awards. On January 29, 2016, our board of directors authorized a $300 million stock repurchase program. As of September 30, 2016 , 2.2 million shares had been repurchased for $95.0 million . In 2015, we completed our prior $250 million share repurchase authorization approved in 2014. 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 Nine Months Ended 2016 2015 2016 2015 Numerator: Net income $ 95.7 $ 39.5 $ 226.2 $ 147.1 Denominator: Weighted average shares outstanding - basic 40.1 42.8 40.7 43.5 Effect of dilutive securities: Equity compensation plans 0.5 0.6 0.5 0.6 Weighted average shares outstanding - diluted 40.6 43.4 41.2 44.1 Basic earnings per share $ 2.39 $ 0.92 $ 5.55 $ 3.38 Diluted earnings per share $ 2.36 $ 0.91 $ 5.49 $ 3.33

Accumulated Other Comprehensive

Accumulated Other Comprehensive Income (Loss)	9 Months Ended
	Sep. 30, 2016
Equity [Abstract]
Accumulated Other Comprehensive Income (Loss)	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 Gain (Loss) on Derivative Instruments Post-Retirement Benefit Plans Total Balance at December 31, 2015 $ (77.7 ) $ (0.3 ) $ (20.9 ) $ (99.9 ) $ (198.8 ) Change in component 25.9 0.1 (23.2 ) — 2.8 Reclassification adjustments into earnings — — 19.0 2.3 21.3 Income tax effect — — 1.7 (0.9 ) 0.8 Balance at March 31, 2016 $ (51.8 ) $ (0.2 ) $ (23.4 ) $ (98.5 ) $ (173.9 ) Change in component (20.7 ) 0.4 (2.0 ) — (22.3 ) Reclassification adjustments into earnings — — (4.9 ) 2.0 (2.9 ) Income tax effect — (0.2 ) 2.1 (0.7 ) 1.2 Balance at June 30, 2016 $ (72.5 ) $ — $ (28.2 ) $ (97.2 ) $ (197.9 ) Change in component 11.0 2.0 (3.4 ) (11.9 ) (2.3 ) Reclassification adjustments into earnings — — 5.7 2.3 8.0 Income tax effect — (0.7 ) (1.8 ) 3.6 1.1 Balance at September 30, 2016 $ (61.5 ) $ 1.3 $ (27.7 ) $ (103.2 ) $ (191.1 ) ________ See "Note 4 . Fair Value Disclosure " and "Note 6 . Pension and Other Post-Retirement Benefits " for impacts of the reclassification adjustments on the statement of comprehensive income.

Legal Proceedings and Other Con

Legal Proceedings and Other Contingencies	9 Months Ended
	Sep. 30, 2016
Commitments and Contingencies Disclosure [Abstract]
Legal Proceedings and Other Contingencies	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 24. Legal Proceedings and Other Contingencies" of our consolidated financial statements in our Annual Report on Form 10-K for the year ended December 31, 2015. 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. In July 2016, all parties finished presenting their evidentiary cases, and closing arguments began in September, 2016. The Public Prosecutors are seeking acquittals for two of the Employees, incarceration of six to ten years for the other eight Employees, and fines of 1.0 million euros against each of GATX Rail Austria and its two defendant subsidiaries. GRA believes that it and its Employees acted diligently and properly, but we cannot predict the outcome of the Lucca Trial and, therefore, cannot reasonably estimate the possible range of loss, fines or penalties that may ultimately be incurred in connection with this matter. While we anticipate that the Lucca Trial will conclude in 2016, we also expect that further appeals will be filed. 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 55 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. Final civil damage awards for each claimant will be determined at subsequent civil damage hearings. GRA expects that its insurers will cover virtually all civil damages, if awarded to the claimants in the Lucca Trial or at subsequent civil damage hearings, as well as defense costs for such damage hearings. However, in the event that the Court of Lucca awards any reputational damages claimed by certain labor unions and associations, GRA’s insurers will not cover those damages, which could range from €0.5 million to €2.0 million ($0.6 million to $2.2 million). Since May 2012, one of the excess insurers providing coverage, Liberty Mutual Insurance Europe Limited (“Liberty”), has settled civil claims but refused to reimburse GRA for its ongoing legal defense fees and costs, taking a position contrary to our other insurers in the prior underlying layers that had provided coverage for such expenses. For the period from May 2012 to September 30, 2016, GRA incurred approximately $19.4 million in defense fees and costs, and GRA continues to incur costs in connection with the Lucca Trial. In October 2013, GRA filed an arbitration proceeding against Liberty seeking to recoup its unreimbursed defense fees and costs (the “Liberty Arbitration”), which was heard in November 2015. GRA received a partial arbitration award in its favor and subsequently settled with Liberty and all other insurers in the current coverage layer. Pursuant to this settlement and subject to certain terms and conditions therein, the insurers will provide reimbursement of approximately 40% of defense costs incurred to date and through the end of the Lucca Trial. As of October 31, 2016, insurance reimbursements for the Lucca Trial totaled approximately $6.4 million.

Financial Data of Business Segm

Financial Data of Business Segments	9 Months Ended
	Sep. 30, 2016
Segment Reporting [Abstract]
Segment Reporting Disclosure [Text Block]	NOTE 13 . 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 market. 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, ASC, and Portfolio Management. Rail North America is composed of our wholly owned operations in the United States, Canada, and Mexico, as well as an affiliate investment. Rail North America primarily provides railcars 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 composed of our wholly owned European operations ("GATX Rail Europe" or "GRE"), and a wholly owned railcar leasing business in India ("Rail India"), as well as one development stage affiliate in China. GRE leases railcars to customers throughout Europe pursuant to full-service leases under which it maintains the railcars and provides services according to customer requirements. 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 generates leasing, marine operating, asset remarketing and management fee income through a collection of diversified wholly owned assets, joint venture investments, and managed assets. 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 predetermined debt to equity leverage ratios. Due to changes in the composition of our segments, we have modified segment leverage levels for 2016. The leverage levels for 2016 are 5:1 for Rail North America, 3:1 for Rail International, 1.5:1 for ASC and 1:1 for Portfolio Management. The leverage levels for 2015 were 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 for each of our business segments (in millions): Rail North America Rail International ASC Portfolio Management Other GATX Consolidated Three Months Ended September 30, 2016 Profitability Revenues Lease revenue $ 233.0 $ 46.6 $ 1.0 $ 1.2 $ — $ 281.8 Marine operating revenue — — 51.8 10.3 — 62.1 Other revenue 17.3 1.6 — 0.1 — 19.0 Total Revenues 250.3 48.2 52.8 11.6 — 362.9 Expenses Maintenance expense 62.8 10.7 6.1 — — 79.6 Marine operating expense — — 31.5 7.7 — 39.2 Depreciation expense 58.4 11.6 4.2 1.7 — 75.9 Operating lease expense 17.2 — 2.0 — — 19.2 Other operating expense 8.6 1.2 — 0.3 — 10.1 Total Expenses 147.0 23.5 43.8 9.7 — 224.0 Other Income (Expense) Net gain on asset dispositions 13.1 0.5 — 49.1 — 62.7 Interest (expense) income, net (27.1 ) (7.3 ) (1.1 ) (2.1 ) 1.4 (36.2 ) Other (expense) income (1.4 ) 5.5 (0.1 ) — 0.3 4.3 Share of affiliates' earnings (pretax) — (0.1 ) — 15.2 — 15.1 Segment Profit $ 87.9 $ 23.3 $ 7.8 $ 64.1 $ 1.7 184.8 Selling, general and administrative expense 48.1 Income taxes (including $0.1 tax benefit related to affiliates' earnings) 41.0 Net Income $ 95.7 Net Gain on Asset Dispositions Asset Remarketing Income: Disposition gains on owned assets $ 11.9 $ — $ — $ (0.3 ) $ — $ 11.6 Residual sharing income 0.3 — — 49.4 — 49.7 Non-remarketing disposition gains (1) 0.9 0.5 — — — 1.4 $ 13.1 $ 0.5 $ — $ 49.1 $ — $ 62.7 Capital Expenditures Portfolio investments and capital additions $ 108.4 $ 10.8 $ — $ — $ 1.2 $ 120.4 Selected Balance Sheet Data at September 30, 2016 Investments in affiliated companies $ 10.5 $ 1.3 $ — $ 365.0 $ — $ 376.8 Identifiable assets $ 4,792.7 $ 1,183.9 $ 285.6 $ 606.2 $ 220.9 $ 7,089.3 _____ (1) Includes scrapping gains. Rail North America Rail International ASC Portfolio Management Other GATX Consolidated Three Months Ended September 30, 2015 Profitability Revenues Lease revenue $ 234.9 $ 44.1 $ 1.1 $ 6.1 $ — $ 286.2 Marine operating revenue — — 61.7 15.9 — 77.6 Other revenue 20.3 1.7 — 0.4 — 22.4 Total Revenues 255.2 45.8 62.8 22.4 — 386.2 Expenses Maintenance expense 66.7 9.9 7.3 — — 83.9 Marine operating expense — — 36.7 11.8 — 48.5 Depreciation expense 54.5 11.1 4.7 4.7 — 75.0 Operating lease expense 20.6 (0.1 ) 1.8 — — 22.3 Other operating expense 6.8 1.1 — 0.4 — 8.3 Total Expenses 148.6 22.0 50.5 16.9 — 238.0 Other Income (Expense) Net gain (loss) on asset dispositions 11.5 0.5 — (16.5 ) — (4.5 ) Interest (expense) income, net (27.0 ) (7.0 ) (1.4 ) (4.7 ) 2.4 (37.7 ) Other expense (1.2 ) (1.8 ) — — (0.1 ) (3.1 ) Share of affiliates' earnings (pretax) (1) 0.1 — — (1.6 ) — (1.5 ) Segment Profit (Loss) $ 90.0 $ 15.5 $ 10.9 $ (17.3 ) $ 2.3 101.4 Selling, general and administrative expense 44.4 Income taxes (including $2.8 tax benefit related to affiliates' earnings) 17.5 Net Income $ 39.5 Net Gain (Loss) on Asset Dispositions Asset Remarketing Income: Disposition gains on owned assets $ 10.2 $ — $ — $ 7.2 $ — $ 17.4 Residual sharing income 0.3 — — 7.3 — 7.6 Non-remarketing disposition gains (2) 1.0 0.6 — — — 1.6 Asset impairment — (0.1 ) — (31.0 ) — (31.1 ) $ 11.5 $ 0.5 $ — $ (16.5 ) $ — $ (4.5 ) Capital Expenditures Portfolio investments and capital additions $ 97.8 $ 40.9 $ 0.8 $ 1.9 $ 0.7 $ 142.1 Selected Balance Sheet Data at December 31, 2015 Investments in affiliated companies $ 12.0 $ 1.4 $ — $ 335.1 $ — $ 348.5 Identifiable assets $ 4,629.1 $ 1,117.6 $ 284.7 $ 636.5 $ 226.3 $ 6,894.2 _____ (1) Includes a $19.0 million impairment loss in the Portfolio Management segment. (2) Includes scrapping gains. Rail North America Rail International ASC Portfolio Management Other GATX Consolidated Nine Months Ended September 30, 2016 Profitability Revenues Lease revenue $ 703.0 $ 136.8 $ 3.1 $ 4.6 $ — $ 847.5 Marine operating revenue — — 102.3 37.4 — 139.7 Other revenue 63.5 4.8 — 0.7 — 69.0 Total Revenues 766.5 141.6 105.4 42.7 — 1,056.2 Expenses Maintenance expense 196.2 36.1 12.3 — — 244.6 Marine operating expense — — 64.0 24.9 — 88.9 Depreciation expense 173.0 34.2 8.6 5.2 — 221.0 Operating lease expense 50.6 — 4.0 — (0.1 ) 54.5 Other operating expense 25.0 3.8 — 4.9 — 33.7 Total Expenses 444.8 74.1 88.9 35.0 (0.1 ) 642.7 Other Income (Expense) Net gain on asset dispositions 36.4 1.5 — 84.9 — 122.8 Interest (expense) income, net (81.2 ) (21.9 ) (3.3 ) (6.4 ) 2.9 (109.9 ) Other (expense) income (3.8 ) 2.0 (0.3 ) — (0.8 ) (2.9 ) Share of affiliates' earnings (pretax) 0.3 (0.2 ) — 33.0 — 33.1 Segment Profit $ 273.4 $ 48.9 $ 12.9 $ 119.2 $ 2.2 456.6 Selling, general and administrative expense 127.8 Income taxes (including $4.0 related to affiliates' earnings) 102.6 Net Income $ 226.2 Net Gain on Asset Dispositions Asset Remarketing Income: Disposition gains on owned assets $ 32.5 $ — $ — $ 4.2 $ — $ 36.7 Residual sharing income 0.7 — — 82.5 — 83.2 Non-remarketing disposition gains (1) 3.2 1.5 — — — 4.7 Asset impairment — — — (1.8 ) — (1.8 ) $ 36.4 $ 1.5 $ — $ 84.9 $ — $ 122.8 Capital Expenditures Portfolio investments and capital additions $ 366.7 $ 63.2 $ 9.1 $ — $ 3.6 $ 442.6 _____ (1) Includes scrapping gains. Rail North America Rail International ASC Portfolio Management Other GATX Consolidated Nine Months Ended September 30, 2015 Profitability Revenues Lease revenue $ 694.3 $ 128.6 $ 3.1 $ 19.1 $ — $ 845.1 Marine operating revenue — — 119.7 48.1 — 167.8 Other revenue 51.8 5.3 — 1.2 — 58.3 Total Revenues 746.1 133.9 122.8 68.4 — 1,071.2 Expenses Maintenance expense 199.7 28.2 14.5 — — 242.4 Marine operating expense — — 77.7 37.0 — 114.7 Depreciation expense 160.1 32.6 9.6 15.6 — 217.9 Operating lease expense 62.0 — 3.5 — (0.1 ) 65.4 Other operating expense 18.1 3.5 — 1.8 — 23.4 Total Expenses 439.9 64.3 105.3 54.4 (0.1 ) 663.8 Other Income (Expense) Net gain (loss) on asset dispositions 54.4 6.5 — (11.4 ) — 49.5 Interest expense, net (76.1 ) (16.5 ) (4.0 ) (15.5 ) (5.0 ) (117.1 ) Other expense (4.2 ) (3.0 ) (0.1 ) — (1.4 ) (8.7 ) Share of affiliates' earnings (pretax) (1) 0.4 (0.2 ) — 21.8 — 22.0 Segment Profit (Loss) $ 280.7 $ 56.4 $ 13.4 $ 8.9 $ (6.3 ) 353.1 Selling, general and administrative expense 134.7 Income taxes (including $3.2 related to affiliates' earnings) 71.3 Net Income $ 147.1 Net Gain (Loss) on Asset Dispositions Asset Remarketing Income: Disposition gains on owned assets $ 51.1 $ — $ — $ 9.3 $ — $ 60.4 Residual sharing income 0.7 — — 10.3 — 11.0 Non-remarketing disposition gains (2) 2.6 6.7 — — — 9.3 Asset impairment — (0.2 ) — (31.0 ) — (31.2 ) $ 54.4 $ 6.5 $ — $ (11.4 ) $ — $ 49.5 Capital Expenditures Portfolio investments and capital additions $ 362.8 $ 110.1 $ 20.3 $ 2.2 $ 2.9 $ 498.3 _____ (1) Includes a $19.0 million impairment loss in the Portfolio Management segment. (2) Includes scrapping gains.

Variable Interest Entities (Tab

Variable Interest Entities (Tables)	9 Months Ended
	Sep. 30, 2016
Variable Interest Entity, Not Primary Beneficiary, Disclosures [Abstract]
Carrying amounts of assets and liabilities of consolidated VIE	Variable Interest Entities In prior periods, we were the primary beneficiary of one of our variable interest entities, a structured lease financing of a portfolio of railcars, because we had the power to direct its significant activities. As a result, we consolidated this variable interest entity. During the third quarter of 2016, the Company took full ownership of all assets, repaid the associated debt, and dissolved this entity. The following table shows the carrying amounts of assets and liabilities of the consolidated variable interest entity (in millions): September 30 2016 December 31 2015 Operating assets, net of accumulated depreciation (1) $ — $ 83.2 Nonrecourse debt — 6.9 _________ (1) All operating assets were 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 aircraft spare engine 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. Rather, 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): September 30, 2016 December 31, 2015 Net Carrying Amount Maximum Exposure to Loss Net Carrying Amount Maximum Exposure to Loss Investments in affiliates $ 176.4 $ 176.4 $ 161.2 $ 161.2 Other investment 0.1 0.1 0.2 0.2 Total $ 176.5 $ 176.5 $ 161.4 $ 161.4

Fair Value Disclosure (Tables)

Fair Value Disclosure (Tables)	9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015
Fair Value Disclosures [Abstract]
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 September 30 2016 Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Interest rate derivatives (1) $ 4.8 $ — $ 4.8 $ — Foreign exchange rate derivatives (1) 6.7 — 6.7 — Available-for-sale equity securities 6.0 6.0 — — Liabilities Interest rate derivatives (1) 5.0 — 5.0 — Foreign exchange rate derivatives (1) 9.4 — 9.4 — Foreign exchange rate derivatives (2) 1.5 — 1.5 — Assets December 31 2015 Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Observable Inputs (Level 2) Significant Interest rate derivatives (1) $ 1.8 $ — $ 1.8 $ — Foreign exchange rate derivatives (1) 10.2 — 10.2 — Foreign exchange rate derivatives (2) 0.8 — 0.8 — Available-for-sale equity securities 3.3 3.3 — — Liabilities Interest rate derivatives (1) 1.2 — 1.2 — Foreign exchange rate derivatives (1) 0.2 — 0.2 — Foreign exchange rate derivatives (2) 2.4 — 2.4 — _________ (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 foreign currency rates) that are observable in the market or that can be derived principally from observable market data.
Derivative Instruments, Gain (Loss) [Table Text Block]		Three Months Ended Nine Months Ended September 30 Derivative Designation Location of Loss (Gain) Recognized 2016 2015 2016 2015 Fair value hedges (1) Interest expense $ 2.6 $ (4.4 ) $ (3.3 ) $ (5.3 ) Cash flow hedges Other comprehensive (income) loss (effective portion) (2.8 ) (0.5 ) (26.8 ) 2.0 Cash flow hedges Interest expense (effective portion reclassified from accumulated other comprehensive loss) 1.7 1.4 5.1 4.1 Cash flow hedges Operating lease expense (effective portion reclassified from accumulated other comprehensive loss) 0.7 0.1 1.1 0.3 Cash flow hedges (2) Other (income) expense (effective portion reclassified from accumulated other comprehensive loss) 3.3 0.8 13.6 5.0 Non-designated (3) Other (income) expense 2.2 (0.6 ) (0.1 ) (6.4 )

Share Based Compensation (Table

Share Based Compensation (Tables)	9 Months Ended
	Sep. 30, 2016
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Weighted Average Fair Value and Assumptions	The estimated fair value of our 2016 stock option awards and related underlying assumptions are shown in the table below. 2016 Estimated fair value $ 13.86 Quarterly dividend rate $ 0.40 Expected term of stock option awards, in years 4.7 Risk-free interest rate 1.4 % Dividend yield 4.1 % Expected stock price volatility 29.4 % Present value of dividends $ 7.27

Commercial Commitments (Tables)

Commercial Commitments (Tables)	9 Months Ended
	Sep. 30, 2016
Guarantees [Abstract]
Commercial Commitments	The following table shows our commercial commitments (in millions): September 30 December 31 Lease payment guarantees $ 16.3 $ 22.1 Standby letters of credit and performance bonds 8.9 8.9 Total commercial commitments (1) $ 25.2 $ 31.0 _________ (1) The carrying value of liabilities on the balance sheet for commercial commitments was $3.3 million at September 30, 2016 and $4.1 million at December 31, 2015. The expirations of these commitments range from 2017 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)	9 Months Ended
	Sep. 30, 2016
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 Nine Months Ended 2016 2015 2016 2015 Numerator: Net income $ 95.7 $ 39.5 $ 226.2 $ 147.1 Denominator: Weighted average shares outstanding - basic 40.1 42.8 40.7 43.5 Effect of dilutive securities: Equity compensation plans 0.5 0.6 0.5 0.6 Weighted average shares outstanding - diluted 40.6 43.4 41.2 44.1 Basic earnings per share $ 2.39 $ 0.92 $ 5.55 $ 3.38 Diluted earnings per share $ 2.36 $ 0.91 $ 5.49 $ 3.33

Accumulated Other Comprehensi24

Accumulated Other Comprehensive Income (Loss) (Tables)	9 Months Ended
	Sep. 30, 2016
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 Gain (Loss) on Derivative Instruments Post-Retirement Benefit Plans Total Balance at December 31, 2015 $ (77.7 ) $ (0.3 ) $ (20.9 ) $ (99.9 ) $ (198.8 ) Change in component 25.9 0.1 (23.2 ) — 2.8 Reclassification adjustments into earnings — — 19.0 2.3 21.3 Income tax effect — — 1.7 (0.9 ) 0.8 Balance at March 31, 2016 $ (51.8 ) $ (0.2 ) $ (23.4 ) $ (98.5 ) $ (173.9 ) Change in component (20.7 ) 0.4 (2.0 ) — (22.3 ) Reclassification adjustments into earnings — — (4.9 ) 2.0 (2.9 ) Income tax effect — (0.2 ) 2.1 (0.7 ) 1.2 Balance at June 30, 2016 $ (72.5 ) $ — $ (28.2 ) $ (97.2 ) $ (197.9 ) Change in component 11.0 2.0 (3.4 ) (11.9 ) (2.3 ) Reclassification adjustments into earnings — — 5.7 2.3 8.0 Income tax effect — (0.7 ) (1.8 ) 3.6 1.1 Balance at September 30, 2016 $ (61.5 ) $ 1.3 $ (27.7 ) $ (103.2 ) $ (191.1 )

Financial Data of Business Se25

Financial Data of Business Segments (Tables)	9 Months Ended
	Sep. 30, 2016
Segment Reporting Information [Line Items]
Segment Reporting Disclosure [Text Block]	NOTE 13 . 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 market. 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, ASC, and Portfolio Management. Rail North America is composed of our wholly owned operations in the United States, Canada, and Mexico, as well as an affiliate investment. Rail North America primarily provides railcars 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 composed of our wholly owned European operations ("GATX Rail Europe" or "GRE"), and a wholly owned railcar leasing business in India ("Rail India"), as well as one development stage affiliate in China. GRE leases railcars to customers throughout Europe pursuant to full-service leases under which it maintains the railcars and provides services according to customer requirements. 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 generates leasing, marine operating, asset remarketing and management fee income through a collection of diversified wholly owned assets, joint venture investments, and managed assets. 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 predetermined debt to equity leverage ratios. Due to changes in the composition of our segments, we have modified segment leverage levels for 2016. The leverage levels for 2016 are 5:1 for Rail North America, 3:1 for Rail International, 1.5:1 for ASC and 1:1 for Portfolio Management. The leverage levels for 2015 were 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 for each of our business segments (in millions): Rail North America Rail International ASC Portfolio Management Other GATX Consolidated Three Months Ended September 30, 2016 Profitability Revenues Lease revenue $ 233.0 $ 46.6 $ 1.0 $ 1.2 $ — $ 281.8 Marine operating revenue — — 51.8 10.3 — 62.1 Other revenue 17.3 1.6 — 0.1 — 19.0 Total Revenues 250.3 48.2 52.8 11.6 — 362.9 Expenses Maintenance expense 62.8 10.7 6.1 — — 79.6 Marine operating expense — — 31.5 7.7 — 39.2 Depreciation expense 58.4 11.6 4.2 1.7 — 75.9 Operating lease expense 17.2 — 2.0 — — 19.2 Other operating expense 8.6 1.2 — 0.3 — 10.1 Total Expenses 147.0 23.5 43.8 9.7 — 224.0 Other Income (Expense) Net gain on asset dispositions 13.1 0.5 — 49.1 — 62.7 Interest (expense) income, net (27.1 ) (7.3 ) (1.1 ) (2.1 ) 1.4 (36.2 ) Other (expense) income (1.4 ) 5.5 (0.1 ) — 0.3 4.3 Share of affiliates' earnings (pretax) — (0.1 ) — 15.2 — 15.1 Segment Profit $ 87.9 $ 23.3 $ 7.8 $ 64.1 $ 1.7 184.8 Selling, general and administrative expense 48.1 Income taxes (including $0.1 tax benefit related to affiliates' earnings) 41.0 Net Income $ 95.7 Net Gain on Asset Dispositions Asset Remarketing Income: Disposition gains on owned assets $ 11.9 $ — $ — $ (0.3 ) $ — $ 11.6 Residual sharing income 0.3 — — 49.4 — 49.7 Non-remarketing disposition gains (1) 0.9 0.5 — — — 1.4 $ 13.1 $ 0.5 $ — $ 49.1 $ — $ 62.7 Capital Expenditures Portfolio investments and capital additions $ 108.4 $ 10.8 $ — $ — $ 1.2 $ 120.4 Selected Balance Sheet Data at September 30, 2016 Investments in affiliated companies $ 10.5 $ 1.3 $ — $ 365.0 $ — $ 376.8 Identifiable assets $ 4,792.7 $ 1,183.9 $ 285.6 $ 606.2 $ 220.9 $ 7,089.3 _____ (1) Includes scrapping gains. Rail North America Rail International ASC Portfolio Management Other GATX Consolidated Three Months Ended September 30, 2015 Profitability Revenues Lease revenue $ 234.9 $ 44.1 $ 1.1 $ 6.1 $ — $ 286.2 Marine operating revenue — — 61.7 15.9 — 77.6 Other revenue 20.3 1.7 — 0.4 — 22.4 Total Revenues 255.2 45.8 62.8 22.4 — 386.2 Expenses Maintenance expense 66.7 9.9 7.3 — — 83.9 Marine operating expense — — 36.7 11.8 — 48.5 Depreciation expense 54.5 11.1 4.7 4.7 — 75.0 Operating lease expense 20.6 (0.1 ) 1.8 — — 22.3 Other operating expense 6.8 1.1 — 0.4 — 8.3 Total Expenses 148.6 22.0 50.5 16.9 — 238.0 Other Income (Expense) Net gain (loss) on asset dispositions 11.5 0.5 — (16.5 ) — (4.5 ) Interest (expense) income, net (27.0 ) (7.0 ) (1.4 ) (4.7 ) 2.4 (37.7 ) Other expense (1.2 ) (1.8 ) — — (0.1 ) (3.1 ) Share of affiliates' earnings (pretax) (1) 0.1 — — (1.6 ) — (1.5 ) Segment Profit (Loss) $ 90.0 $ 15.5 $ 10.9 $ (17.3 ) $ 2.3 101.4 Selling, general and administrative expense 44.4 Income taxes (including $2.8 tax benefit related to affiliates' earnings) 17.5 Net Income $ 39.5 Net Gain (Loss) on Asset Dispositions Asset Remarketing Income: Disposition gains on owned assets $ 10.2 $ — $ — $ 7.2 $ — $ 17.4 Residual sharing income 0.3 — — 7.3 — 7.6 Non-remarketing disposition gains (2) 1.0 0.6 — — — 1.6 Asset impairment — (0.1 ) — (31.0 ) — (31.1 ) $ 11.5 $ 0.5 $ — $ (16.5 ) $ — $ (4.5 ) Capital Expenditures Portfolio investments and capital additions $ 97.8 $ 40.9 $ 0.8 $ 1.9 $ 0.7 $ 142.1 Selected Balance Sheet Data at December 31, 2015 Investments in affiliated companies $ 12.0 $ 1.4 $ — $ 335.1 $ — $ 348.5 Identifiable assets $ 4,629.1 $ 1,117.6 $ 284.7 $ 636.5 $ 226.3 $ 6,894.2 _____ (1) Includes a $19.0 million impairment loss in the Portfolio Management segment. (2) Includes scrapping gains. Rail North America Rail International ASC Portfolio Management Other GATX Consolidated Nine Months Ended September 30, 2016 Profitability Revenues Lease revenue $ 703.0 $ 136.8 $ 3.1 $ 4.6 $ — $ 847.5 Marine operating revenue — — 102.3 37.4 — 139.7 Other revenue 63.5 4.8 — 0.7 — 69.0 Total Revenues 766.5 141.6 105.4 42.7 — 1,056.2 Expenses Maintenance expense 196.2 36.1 12.3 — — 244.6 Marine operating expense — — 64.0 24.9 — 88.9 Depreciation expense 173.0 34.2 8.6 5.2 — 221.0 Operating lease expense 50.6 — 4.0 — (0.1 ) 54.5 Other operating expense 25.0 3.8 — 4.9 — 33.7 Total Expenses 444.8 74.1 88.9 35.0 (0.1 ) 642.7 Other Income (Expense) Net gain on asset dispositions 36.4 1.5 — 84.9 — 122.8 Interest (expense) income, net (81.2 ) (21.9 ) (3.3 ) (6.4 ) 2.9 (109.9 ) Other (expense) income (3.8 ) 2.0 (0.3 ) — (0.8 ) (2.9 ) Share of affiliates' earnings (pretax) 0.3 (0.2 ) — 33.0 — 33.1 Segment Profit $ 273.4 $ 48.9 $ 12.9 $ 119.2 $ 2.2 456.6 Selling, general and administrative expense 127.8 Income taxes (including $4.0 related to affiliates' earnings) 102.6 Net Income $ 226.2 Net Gain on Asset Dispositions Asset Remarketing Income: Disposition gains on owned assets $ 32.5 $ — $ — $ 4.2 $ — $ 36.7 Residual sharing income 0.7 — — 82.5 — 83.2 Non-remarketing disposition gains (1) 3.2 1.5 — — — 4.7 Asset impairment — — — (1.8 ) — (1.8 ) $ 36.4 $ 1.5 $ — $ 84.9 $ — $ 122.8 Capital Expenditures Portfolio investments and capital additions $ 366.7 $ 63.2 $ 9.1 $ — $ 3.6 $ 442.6 _____ (1) Includes scrapping gains. Rail North America Rail International ASC Portfolio Management Other GATX Consolidated Nine Months Ended September 30, 2015 Profitability Revenues Lease revenue $ 694.3 $ 128.6 $ 3.1 $ 19.1 $ — $ 845.1 Marine operating revenue — — 119.7 48.1 — 167.8 Other revenue 51.8 5.3 — 1.2 — 58.3 Total Revenues 746.1 133.9 122.8 68.4 — 1,071.2 Expenses Maintenance expense 199.7 28.2 14.5 — — 242.4 Marine operating expense — — 77.7 37.0 — 114.7 Depreciation expense 160.1 32.6 9.6 15.6 — 217.9 Operating lease expense 62.0 — 3.5 — (0.1 ) 65.4 Other operating expense 18.1 3.5 — 1.8 — 23.4 Total Expenses 439.9 64.3 105.3 54.4 (0.1 ) 663.8 Other Income (Expense) Net gain (loss) on asset dispositions 54.4 6.5 — (11.4 ) — 49.5 Interest expense, net (76.1 ) (16.5 ) (4.0 ) (15.5 ) (5.0 ) (117.1 ) Other expense (4.2 ) (3.0 ) (0.1 ) — (1.4 ) (8.7 ) Share of affiliates' earnings (pretax) (1) 0.4 (0.2 ) — 21.8 — 22.0 Segment Profit (Loss) $ 280.7 $ 56.4 $ 13.4 $ 8.9 $ (6.3 ) 353.1 Selling, general and administrative expense 134.7 Income taxes (including $3.2 related to affiliates' earnings) 71.3 Net Income $ 147.1 Net Gain (Loss) on Asset Dispositions Asset Remarketing Income: Disposition gains on owned assets $ 51.1 $ — $ — $ 9.3 $ — $ 60.4 Residual sharing income 0.7 — — 10.3 — 11.0 Non-remarketing disposition gains (2) 2.6 6.7 — — — 9.3 Asset impairment — (0.2 ) — (31.0 ) — (31.2 ) $ 54.4 $ 6.5 $ — $ (11.4 ) $ — $ 49.5 Capital Expenditures Portfolio investments and capital additions $ 362.8 $ 110.1 $ 20.3 $ 2.2 $ 2.9 $ 498.3 _____ (1) Includes a $19.0 million impairment loss in the Portfolio Management segment. (2) Includes scrapping gains.

Description of Business (Detail

Description of Business (Details)	9 Months Ended
	Sep. 30, 2016Segment
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Number of business segments	4

Basis of Presentation Basis o27

Basis of Presentation Basis of Presentation (Details) - Scenario, Forecast [Member] - Change in Assumptions for Pension Plans [Member] $ in Millions	12 Months Ended
	Dec. 31, 2016USD ($)
Change in Accounting Estimate [Line Items]
Defined Benefit Plan Service and Interest Cost, Before Tax	$ 4.5
Defined Benefit Plan Service and Interest Cost, After Tax	$ 2.8

Variable Interest Entities (Det

Variable Interest Entities (Details) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2016	Sep. 30, 2016	Dec. 31, 2015
Variable Interest Entity [Line Items]
Variable Interest Entity, Qualitative or Quantitative Information, Type of Entity	one
Variable Interest, Held by Entity [Member]
Carrying amounts of assets and liabilities of the VIE
Operating assets, net of accumulated depreciation		$ 0	$ 83.2
Nonrecourse debt		$ 0	$ 6.9

Variable Interest Entities (D29

Variable Interest Entities (Details 1) - USD ($) $ in Millions	Sep. 30, 2016	Dec. 31, 2015
Carrying amounts and maximum exposure to loss with respect to VIEs
Net Carrying Amount	$ 176.5	$ 161.4
Maximum Exposure to Loss	176.5	161.4
Investments in Affiliates [Member]
Carrying amounts and maximum exposure to loss with respect to VIEs
Net Carrying Amount	176.4	161.2
Maximum Exposure to Loss	176.4	161.2
Other investment [Member]
Carrying amounts and maximum exposure to loss with respect to VIEs
Net Carrying Amount	0.1	0.2
Maximum Exposure to Loss	$ 0.1	$ 0.2

Fair Value Disclosure (Details)

Fair Value Disclosure (Details) $ in Millions		3 Months Ended					9 Months Ended
		Sep. 30, 2016USD ($)Instrument		Jun. 30, 2016USD ($)	Mar. 31, 2016USD ($)	Sep. 30, 2015USD ($)	Sep. 30, 2016USD ($)Instrument		Sep. 30, 2015USD ($)	Dec. 31, 2015USD ($)Instrument
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative Asset, Notional Amount		$ 550					$ 550
Liabilities
Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI, Pension and Other Postretirement Benefit Plans, for Net Gain (Loss), before Tax		2.3		$ 2	$ 2.3
Fair Value, Measurements, Recurring [Member]
Assets
Available for sale equity securities		6					6			$ 3.3
Fair Value, Measurements, Recurring [Member] | Designated as Hedging Instrument [Member]
Assets
Interest rate derivatives		4.8	[1]				4.8	[1]		1.8
Foreign Currency Cash Flow Hedge Asset at Fair Value										10.2
Liabilities
Interest rate derivatives	[1]	5					5			1.2
Foreign Currency Fair Value Hedge Liability at Fair Value										0.2
Foreign Currency Cash Flow Hedge Liability at Fair Value	[2]	9.4					9.4
Fair Value, Measurements, Recurring [Member] | Not Designated as Hedging Instrument [Member]
Assets
Foreign Currency Cash Flow Hedge Asset at Fair Value	[2]	6.7					6.7
Foreign exchange rate derivatives										0.8
Liabilities
Foreign exchange rate derivatives	[2]	1.5					1.5			2.4
Fair Value, Inputs, Level 1 [Member] | Fair Value, Measurements, Recurring [Member]
Assets
Available for sale equity securities		6					6			3.3
Fair Value, Inputs, Level 1 [Member] | Fair Value, Measurements, Recurring [Member] | Designated as Hedging Instrument [Member]
Assets
Interest rate derivatives	[1]	0					0			0
Liabilities
Interest rate derivatives	[1]	0					0			0
Foreign Currency Cash Flow Hedge Liability at Fair Value	[2]	0					0			0
Fair Value, Inputs, Level 1 [Member] | Fair Value, Measurements, Recurring [Member] | Not Designated as Hedging Instrument [Member]
Assets
Foreign Currency Cash Flow Hedge Asset at Fair Value	[2]	0					0
Foreign exchange rate derivatives	[2]									0
Liabilities
Foreign exchange rate derivatives	[2]	0					0			0
Fair Value, Inputs, Level 2 [Member] | Fair Value, Measurements, Recurring [Member]
Assets
Available for sale equity securities		0					0			0
Fair Value, Inputs, Level 2 [Member] | Fair Value, Measurements, Recurring [Member] | Designated as Hedging Instrument [Member]
Assets
Interest rate derivatives	[1]	4.8					4.8			1.8
Liabilities
Interest rate derivatives	[1]	5					5			1.2
Foreign Currency Fair Value Hedge Liability at Fair Value										0.2
Foreign Currency Cash Flow Hedge Liability at Fair Value	[2]	9.4					9.4
Fair Value, Inputs, Level 2 [Member] | Fair Value, Measurements, Recurring [Member] | Not Designated as Hedging Instrument [Member]
Assets
Foreign Currency Cash Flow Hedge Asset at Fair Value	[2]	6.7					6.7			10.2
Foreign exchange rate derivatives	[2]									0.8
Liabilities
Foreign exchange rate derivatives	[2]	1.5					1.5			2.4
Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Recurring [Member]
Assets
Available for sale equity securities		0					0			0
Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Recurring [Member] | Designated as Hedging Instrument [Member]
Assets
Interest rate derivatives	[1]	0					0			0
Liabilities
Interest rate derivatives	[1]	0					0			0
Foreign Currency Cash Flow Hedge Liability at Fair Value	[2]	0					0
Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Recurring [Member] | Not Designated as Hedging Instrument [Member]
Assets
Foreign Currency Cash Flow Hedge Asset at Fair Value	[2]	0					0
Foreign exchange rate derivatives	[2]									0
Liabilities
Foreign exchange rate derivatives	[2]	$ 0					$ 0			$ 0
Fair Value Hedging [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Maturity Date Range of Derivative Instruments							2017 to 2020
Derivative, Number of Instruments Held | Instrument		8					8
Cash Flow Hedging [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Maturity Date Range of Derivative Instruments							2016 to 2022
Derivative, Number of Instruments Held | Instrument		16					16			10
Other Expense [Member] | Not Designated as Hedging Instrument [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative Instruments, Gain (Loss) Recognized in Income, Ineffective Portion and Amount Excluded from Effectiveness Testing, Net		$ 2.2				$ (0.6)	$ (0.1)		$ (6.4)
Other Expense [Member] | Cash Flow Hedging [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative Instruments, Gain (Loss) Recognized in Income, Ineffective Portion and Amount Excluded from Effectiveness Testing, Net		3.3				0.8	13.6		5
Other Expense [Member] | Foreign Currency Gain (Loss) [Member] | Cash Flow Hedging [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative Instruments, Gain (Loss) Recognized in Income, Ineffective Portion and Amount Excluded from Effectiveness Testing, Net		$ 4.2				$ 0.8	$ 11		$ 3.5
[1]	(1) Designated as hedges
[2]	(2) Not designated as hedges

Fair Value Disclosure (Details

Fair Value Disclosure (Details 2) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016		Sep. 30, 2015
Interest Expense [Member] | Fair Value Hedging [Member]
Impact of GATX's Derivative Instrument on Income Statement and Other comprehensive income (loss)
Interest expense	$ (2.6)	$ 4.4	$ (3.3)	[1]	$ (5.3)	[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	1.7	1.4	5.1		4.1
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)	(2.8)	(0.5)	(26.8)		2
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	0.7	0.1	1.1		0.3
Other Expense [Member] | Cash Flow Hedges [Member]
Impact of GATX's Derivative Instrument on Income Statement and Other comprehensive income (loss)
Other expense	3.3	0.8	13.6		5
Not Designated as Hedging Instrument [Member] | Other Expense [Member]
Impact of GATX's Derivative Instrument on Income Statement and Other comprehensive income (loss)
Other expense	2.2	(0.6)	(0.1)		(6.4)
Not Designated as Hedging Instrument [Member] | Other Expense [Member] | Aae Cargo Ag [Member]
Impact of GATX's Derivative Instrument on Income Statement and Other comprehensive income (loss)
Other expense					5.1
Foreign Currency Gain (Loss) [Member] | Other Expense [Member] | Cash Flow Hedges [Member]
Impact of GATX's Derivative Instrument on Income Statement and Other comprehensive income (loss)
Other expense	$ 4.2	$ 0.8	$ 11		$ 3.5
[1]	(1) The fair value adjustments related to the underlying debt equally offset amounts recognized in interest expense.

Fair Value Disclosure (Detail32

Fair Value Disclosure (Details 3) - USD ($) $ in Millions	Sep. 30, 2016	Dec. 31, 2015
Assets
Loans	$ 6.7	$ 8.8
Carrying Amount [Member]
Assets
Investment Funds	0.6	0.6
Loans	6.7	8.8
Liabilities
Recourse fixed rate debt	3,868.2	3,915
Recourse floating rate debt	360	275.2
Nonrecourse debt	0	6.9
Fair Value [Member]
Assets
Investment Funds	1.3	1.2
Loans	6.7	8.7
Liabilities
Recourse fixed rate debt	3,996.4	3,882.6
Recourse floating rate debt	352	264.6
Nonrecourse debt	$ 0	$ 7.1

Fair Value Disclosure (Detail33

Fair Value Disclosure (Details Textual) $ in Millions	9 Months Ended
	Sep. 30, 2016USD ($)Instrument	Dec. 31, 2015USD ($)Instrument
Fair Value Disclosure (Textual) [Abstract]
Derivative Asset, Notional Amount	$ 550
Derivative, Notional Amount	471.6	$ 442.9
Cash Flow Hedge Pre Tax Gain Loss to be Reclassified within Twelve Months	(5.6)
Expected After tax reclassification of net losses from accumulated other comprehensive income to earnings in Next Twelve Months	3.5
Aggregate fair value of all derivative instruments with Net liability position	$ 14.4
Fair Value Hedging [Member]
Fair Value Disclosure (Textual) [Abstract]
Number of instruments, outstanding | Instrument	8
Maturity Date Range of Derivative Instruments	2017 to 2020
Cash Flow Hedges [Member]
Fair Value Disclosure (Textual) [Abstract]
Number of instruments, outstanding | Instrument	16	10
Maturity Date Range of Derivative Instruments	2016 to 2022

Assets Held For Sale Assets H34

Assets Held For Sale Assets Held For Sale (Details) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2016USD ($)	Sep. 30, 2015USD ($)Vessel	Sep. 30, 2016USD ($)	Sep. 30, 2015USD ($)	Dec. 31, 2015USD ($)
Segment Reporting Information [Line Items]
Asset impairment		$ 31.1	$ 1.8	$ 31.2
Assets Held-for-sale, Long Lived, Fair Value Disclosure	$ 62.1		62.1		$ 106
Portfolio Proceeds			170.6	298.2
Disposition gains on owned assets	11.6	$ 17.4	36.7	60.4
Portfolio Management [Member]
Segment Reporting Information [Line Items]
gmt_Number of Sold Vessels | Vessel		6
Asset impairment		$ 31	1.8	31
Assets Held-for-sale, Long Lived, Fair Value Disclosure	60.5		60.5		$ 103.4
Portfolio Proceeds			49.4
Disposition gains on owned assets	$ (0.3)	7.2	4.2	9.3
Cardinal Marine [Domain]
Segment Reporting Information [Line Items]
Asset impairment		$ (19)		$ (19)
Noncontrolling Interest, Ownership Percentage by Parent		50.00%		50.00%
Nordic Vessels [Member] | Portfolio Management [Member]
Segment Reporting Information [Line Items]
Asset impairment			0
Cardinal Marine [Domain] | Portfolio Management [Member]
Segment Reporting Information [Line Items]
Proceeds from Sale of Equity Method Investments			$ 1

Pension and Other Post-Retire35

Pension and Other Post-Retirement Benefits (Details) - USD ($) $ in Millions	3 Months Ended				9 Months Ended
	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Defined Benefit Plan Disclosure [Line Items]
Post-Retirement Benefit Plans, Reclassification adjustments into earnings	$ 2.3	$ 2	$ 2.3
Defined Benefit Plan, Special Termination Benefits	0			$ 0	$ 0	$ 0
Defined Benefit Pension [Member]
Defined Benefit Plan Disclosure [Line Items]
Service cost	1.5			1.9	4.5	5.6
Interest cost	3.9			4.9	11.8	14.8
Expected return on plan assets	(6.5)			(6.4)	(19.5)	(19.3)
Defined Benefit Plan, Special Termination Benefits	5.7				5.7
Unrecognized prior service credit	(0.2)			(0.3)	(0.7)	(0.8)
Unrecognized net actuarial loss	2.6			3.7	7.7	11.1
Net expense	7			3.8	9.5	11.4
Retiree Health and Life [Member]
Defined Benefit Plan Disclosure [Line Items]
Service cost	0.1			0.1	0.2	0.2
Interest cost	0.2			0.3	0.7	1
Expected return on plan assets	0			0	0	0
Unrecognized prior service credit	(0.1)			(0.1)	(0.2)	(0.2)
Unrecognized net actuarial loss	0			0	(0.2)	0
Net expense	$ 0.2			$ 0.3	$ 0.5	$ 1

Share Based Compensation (Detai

Share Based Compensation (Details Textual) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Term			4 years 8 months 12 days
Share-based compensation expense	$ 3.2	$ 2.8	$ 9.1	$ 8.9
Tax benefit from share-based compensation expense	$ 1.3	$ 1.1	$ 3.5	$ 3.4
Stock Option SAR Awards [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Units granted during period			466,900
Restricted Stock and Performance Share Awards [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Units granted during period			83,100
Performance Shares [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Units granted during period			95,100
Phantom Stock Units [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Units granted during period			22,052

Share Based Compensation - Weig

Share Based Compensation - Weighted Average and Assumptions (Details)	9 Months Ended
	Sep. 30, 2016$ / shares
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Estimated fair value	$ 13.86
Quarterly dividend rate	$ 0.40
Risk-free interest rate	1.40%
Dividend yield	4.10%
Expected stock price volatility	29.40%
Present value of dividends	$ 7.27

Income Taxes (Details Textual)

Income Taxes (Details Textual) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015
Income Tax Disclosure [Abstract]
Unrecognized Tax Benefits	$ 4.3
Effective Income Tax Rate Reconciliation, Percent	33.00%	35.00%
Unrecognized Tax Benefits that Would Impact Effective Tax Rate	$ 4.3
Decrease in Income Tax Expenses Unrecognized Tax Benefits if Recognized Net of Federal Tax	2.8
Unrecognized Tax Benefits, Period Increase (Decrease)	$ 1.4

Income Taxes Effective tax rate

Income Taxes Effective tax rate (Details) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015
Income Tax Disclosure [Abstract]
Decrease in Unrecognized Tax Benefits is Reasonably Possible	$ 1.4
Effective Income Tax Rate Reconciliation, Percent	33.00%	35.00%

Income Taxes Effective Income T

Income Taxes Effective Income Tax Reconciliation, Percent (Details)	9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015
Income Tax Disclosure [Abstract]
Effective Income Tax Rate Reconciliation, Percent	33.00%	35.00%

Commercial Commitments (Details

Commercial Commitments (Details) - USD ($) $ in Millions		Sep. 30, 2016	Dec. 31, 2015
Guarantor Obligations [Line Items]
Total commercial commitments	[1]	$ 25.2	$ 31
Lease payment guarantees [Member]
Guarantor Obligations [Line Items]
Total commercial commitments		16.3	22.1
Standby letters of credit [Member]
Guarantor Obligations [Line Items]
Total commercial commitments		$ 8.9	$ 8.9
[1]	(1) The carrying value of liabilities on the balance sheet for commercial commitments was $3.3 million at September 30, 2016 and $4.1 million at December 31, 2015. The expirations of these commitments range from 2017 to 2023. We are not aware of any event that would require us to satisfy any of our commitments.

Commercial Commitments (Detai42

Commercial Commitments (Details Textual) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2016	Dec. 31, 2015
Guarantees [Abstract]
Amount of liability included in recorded value of the company's commitment	$ 3.3	$ 4.1
Expiration of commitment range	2017 to 2023

Earnings Per Share (Details)

Earnings Per Share (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015	Jan. 29, 2016	Jun. 30, 2014
Earnings Per Share [Abstract]
Stock Repurchase Program, Authorized Amount					$ 300,000,000	$ 250,000,000
Stock Repurchased During Period, Shares			2,200,000
Treasury Stock, Value, Acquired, Cost Method			$ 95,000,000
Numerator:
Net income	$ 95,700,000	$ 39,500,000	$ 226,200,000	$ 147,100,000
Denominator:
Denominator for basic earnings per share — weighted average shares	40,100,000	42,800,000	40,700,000	43,500,000
Effect of dilutive securities:
Equity compensation plans	500,000	600,000	500,000	600,000
Denominator for diluted earnings per share — adjusted weighted average and assumed conversion	40,600,000	43,400,000	41,200,000	44,100,000
Basic earnings per share (in dollars per share)	$ 2.39	$ 0.92	$ 5.55	$ 3.38
Diluted earnings per share (in dollars per share)	$ 2.36	$ 0.91	$ 5.49	$ 3.33

Accumulated Other Comprehensi44

Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Millions	3 Months Ended
	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2015
Equity [Abstract]
Beginning Balance, Foreign Currency Translation Gain (Loss)	$ (72.5)	$ (51.8)	$ (77.7)
Change in Foreign Currency Translation Gain (Loss)	11	(20.7)	25.9
Foreign currency translation gain loss before reclassification adjustment into earnings	0	0	0
Foreign Currency Translation Gain (Loss), Income tax effect	0	0	0
Ending Balance, Foreign Currency Translation Gain (Loss)	(61.5)	(72.5)	(51.8)
Beginning Balance, Unrealized Gain (Loss) on Securities	0	(0.2)	(0.3)
Change in Unrealized Gain (Loss) on Securities	(2)	(0.4)	(0.1)
Unrealized Gain (Loss) on Securities, Reclassification adjustments into earnings	0	0	0
Unrealized Gain (Loss) on Securities, Income tax effect	(0.7)	(0.2)	0
Ending Balance, Unrealized Gain (Loss) on Securities	1.3	0	(0.2)
Beginning Balance, Unrealized Loss on Derivative Instruments	(28.2)	(23.4)	(20.9)
Change in Unrealized Loss on Derivative Instruments	3.4	2	23.2
Unrealized Loss on Derivative Instruments, Reclassification adjustments into earnings	5.7	(4.9)	19
Unrealized Loss on Derivative Instruments, Income tax effect	(1.8)	2.1	1.7
Ending Balance, Unrealized Loss on Derivative Instruments	(27.7)	(28.2)	(23.4)
Beginning Balance, Post-Retirement Benefit Plans	(97.2)	(98.5)	(99.9)
Change in Post-Retirement Benefit Plans	11.9	0	0
Post-Retirement Benefit Plans, Reclassification adjustments into earnings	2.3	2	2.3
Post-Retirement Benefit Plans, Income tax effect	3.6	(0.7)	(0.9)
Ending Balance, Post-Retirement Benefit Plans	(103.2)	(97.2)	(98.5)
Other Comprehensive Income Change in Component	(2.3)	(22.3)	2.8
Reclassification adjustments into earnings, Total	8	(2.9)	21.3
Income tax effect, Total	1.1	1.2	0.8
Accumulated other comprehensive income (loss), net of tax	$ (191.1)	$ (197.9)	$ (173.9)	$ (198.8)

Legal Proceedings and Other C45

Legal Proceedings and Other Contingencies (Details) € in Millions, $ in Millions	9 Months Ended
	Sep. 30, 2016EUR (€)case	Sep. 30, 2016USD ($)case	Dec. 14, 2012EmployeeCorporations	Jun. 29, 2009Car
Viareggio [Member]
Loss Contingencies [Line Items]
Number of casualties				32
Number of subsidiaries			2
Liability for Unpaid Claims and Claims Adjustment Expense, Incurred Claims | $		$ 1
Number of Italian railway companies | Corporations			4
Number of employees			18
Loss Contingency, Pending Claims, Number	55	55
Court Proceedings | case	1	1
Legal Fees | $		$ 19.4
percentage reimbursement legal insurance	0.00%	0.00%
reimbursed defense fee | $		$ 6.4
Derailed [Member] | Viareggio [Member]
Loss Contingencies [Line Items]
number of railcars | Car				14
Overturned [Member] | Viareggio [Member]
Loss Contingencies [Line Items]
number of railcars | Car				5
Punctured and Ignited [Member] | Viareggio [Member]
Loss Contingencies [Line Items]
number of railcars | Car				1
Threatened Litigation [Member] | Minimum [Member]
Loss Contingencies [Line Items]
Loss Contingency, Damages Paid, Value	€ 0.5	0.6
Threatened Litigation [Member] | B-737-Max [Member]
Loss Contingencies [Line Items]
Loss Contingency, Damages Paid, Value	€ 2.2	$ 2
acquittals [Member] | Viareggio [Member]
Loss Contingencies [Line Items]
Number of Maintenance and Supervisory employees | Employee			2
Incarceration [Member] | Viareggio [Member]
Loss Contingencies [Line Items]
Number of Maintenance and Supervisory employees | Employee			8

Financial Data of Business Se46

Financial Data of Business Segments (Details) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2016USD ($)	Sep. 30, 2015USD ($)	Sep. 30, 2016USD ($)Segment	Sep. 30, 2015USD ($)	Dec. 31, 2015USD ($)
Segment Reporting Information [Line Items]
Lease Income	$ 281.8	$ 286.2	$ 847.5	$ 845.1
Cargo and Freight Revenue	62.1	77.6	139.7	167.8
Provision for Income Taxes, Equity Method Investment	(0.1)	(2.8)	$ 4	3.2
Number of business segments | Segment			4
Profitability
Other revenue	19	22.4	$ 69	58.3
Maintenance expense	79.6	83.9	244.6	242.4
Depreciation expense	75.9	75	221	217.9
Marine operating expense	39.2	48.5	88.9	114.7
Operating lease expense	(19.2)	(22.3)	(54.5)	(65.4)
Other operating expense	10.1	8.3	33.7	23.4
Total Expenses	224	238	642.7	663.8
Disposition gains on owned assets	11.6	17.4	36.7	60.4
Residual sharing income	49.7	7.6	83.2	11
Nonremarketing disposition gains	1.4	1.6	4.7	9.3
Asset impairment		(31.1)	(1.8)	(31.2)
Net gain on asset dispositions	62.7	(4.5)	122.8	49.5
Interest Revenue (Expense), Net	(36.2)	(37.7)	(109.9)	(117.1)
Other (expense) income	(4.3)	3.1	2.9	8.7
Income (Loss) From Equity Method Investment, Before Tax	15.1	(1.5)	33.1	22
Segment profit (loss)	184.8	101.4	456.6	353.1
SG&A	48.1	44.4	127.8	134.7
Income tax benefit	41.1	20.3	98.6	68.1
Net Income	95.7	39.5	226.2	147.1
Revenues	362.9	386.2	1,056.2	1,071.2
Selected Balance Sheet Data
Portfolio Investments and Capital Additions	120.4	142.1	442.6	498.3
Investments in and Advance to Affiliates, Subsidiaries, Associates, and Joint Ventures	376.8		376.8		$ 348.5
Identifiable assets	7,089.3		7,089.3		6,894.2
Rail North America [Member]
Segment Reporting Information [Line Items]
Lease Income	233	234.9	703	694.3
Cargo and Freight Revenue	0	0	$ 0	0
Leverage level expressed as a ratio of recourse debt to equity			5
Profitability
Other revenue	17.3	20.3	$ 63.5	51.8
Maintenance expense	62.8	66.7	196.2	199.7
Depreciation expense	58.4	54.5	173	160.1
Marine operating expense	0	0	0	0
Operating lease expense	(17.2)	(20.6)	(50.6)	(62)
Other operating expense	8.6	6.8	25	18.1
Total Expenses	147	148.6	444.8	439.9
Disposition gains on owned assets	11.9	10.2	32.5	51.1
Residual sharing income	0.3	0.3	0.7	0.7
Nonremarketing disposition gains	0.9	1	3.2	2.6
Asset impairment		0	0	0
Net gain on asset dispositions	13.1	11.5	36.4	54.4
Interest Revenue (Expense), Net	(27.1)	(27)	(81.2)	(76.1)
Other (expense) income	1.4	1.2	3.8	4.2
Income (Loss) From Equity Method Investment, Before Tax	0	0.1	0.3	0.4
Segment profit (loss)	87.9	90	273.4	280.7
Revenues	250.3	255.2	766.5	746.1
Selected Balance Sheet Data
Portfolio Investments and Capital Additions	108.4	97.8	366.7	362.8
Investments in and Advance to Affiliates, Subsidiaries, Associates, and Joint Ventures	10.5		10.5		12
Identifiable assets	4,792.7		4,792.7		4,629.1
Rail International [Member]
Segment Reporting Information [Line Items]
Lease Income	46.6	44.1	136.8	128.6
Cargo and Freight Revenue	0	0	$ 0	0
Leverage level expressed as a ratio of recourse debt to equity			2
Profitability
Other revenue	1.6	1.7	$ 4.8	5.3
Maintenance expense	10.7	9.9	36.1	28.2
Depreciation expense	11.6	11.1	34.2	32.6
Marine operating expense	0	0	0	0
Operating lease expense	0	0.1	0	0
Other operating expense	1.2	1.1	3.8	3.5
Total Expenses	23.5	22	74.1	64.3
Disposition gains on owned assets	0	0	0	0
Residual sharing income	0	0	0	0
Nonremarketing disposition gains	0.5	0.6	1.5	6.7
Asset impairment		(0.1)	0	(0.2)
Net gain on asset dispositions	0.5	0.5	1.5	6.5
Interest Revenue (Expense), Net	(7.3)	(7)	(21.9)	(16.5)
Other (expense) income	(5.5)	1.8	(2)	3
Income (Loss) From Equity Method Investment, Before Tax	(0.1)	0	(0.2)	(0.2)
Segment profit (loss)	23.3	15.5	48.9	56.4
Revenues	48.2	45.8	141.6	133.9
Selected Balance Sheet Data
Portfolio Investments and Capital Additions	10.8	40.9	63.2	110.1
Investments in and Advance to Affiliates, Subsidiaries, Associates, and Joint Ventures	1.3		1.3		1.4
Identifiable assets	1,183.9		1,183.9		1,117.6
ASC [Member]
Segment Reporting Information [Line Items]
Lease Income	1	1.1	3.1	3.1
Cargo and Freight Revenue	51.8	61.7	$ 102.3	119.7
Leverage level expressed as a ratio of recourse debt to equity			1.5
Profitability
Other revenue	0	0	$ 0	0
Maintenance expense	6.1	7.3	12.3	14.5
Depreciation expense	4.2	4.7	8.6	9.6
Marine operating expense	31.5	36.7	64	77.7
Operating lease expense	(2)	(1.8)	(4)	(3.5)
Other operating expense	0	0	0	0
Total Expenses	43.8	50.5	88.9	105.3
Disposition gains on owned assets	0	0	0	0
Residual sharing income	0	0	0	0
Nonremarketing disposition gains	0	0	0	0
Asset impairment		0	0	0
Net gain on asset dispositions	0	0	0	0
Interest Revenue (Expense), Net	(1.1)	(1.4)	(3.3)	(4)
Other (expense) income	0.1	0	0.3	0.1
Income (Loss) From Equity Method Investment, Before Tax	0	0	0	0
Segment profit (loss)	7.8	10.9	12.9	13.4
Revenues	52.8	62.8	105.4	122.8
Selected Balance Sheet Data
Portfolio Investments and Capital Additions	0	0.8	9.1	20.3
Investments in and Advance to Affiliates, Subsidiaries, Associates, and Joint Ventures	0		0		0
Identifiable assets	285.6		285.6		284.7
Portfolio Management [Member]
Segment Reporting Information [Line Items]
Lease Income	1.2	6.1	4.6	19.1
Cargo and Freight Revenue	10.3	15.9	$ 37.4	48.1
Leverage level expressed as a ratio of recourse debt to equity			3
Profitability
Other revenue	0.1	0.4	$ 0.7	1.2
Maintenance expense	0	0	0	0
Depreciation expense	1.7	4.7	5.2	15.6
Marine operating expense	7.7	11.8	24.9	37
Operating lease expense	0	0	0	0
Other operating expense	0.3	0.4	4.9	1.8
Total Expenses	9.7	16.9	35	54.4
Disposition gains on owned assets	(0.3)	7.2	4.2	9.3
Residual sharing income	49.4	7.3	82.5	10.3
Nonremarketing disposition gains	0	0	0	0
Asset impairment		(31)	(1.8)	(31)
Net gain on asset dispositions	49.1	(16.5)	84.9	(11.4)
Interest Revenue (Expense), Net	(2.1)	(4.7)	(6.4)	(15.5)
Other (expense) income	0	0	0	0
Income (Loss) From Equity Method Investment, Before Tax	15.2	(1.6)	33	21.8
Segment profit (loss)	64.1	(17.3)	119.2	8.9
Revenues	11.6	22.4	42.7	68.4
Selected Balance Sheet Data
Portfolio Investments and Capital Additions	0	1.9	0	2.2
Investments in and Advance to Affiliates, Subsidiaries, Associates, and Joint Ventures	365		365		335.1
Identifiable assets	606.2		606.2		636.5
Other [Member]
Segment Reporting Information [Line Items]
Lease Income	0	0	0	0
Cargo and Freight Revenue	0	0	0	0
Profitability
Other revenue	0	0	0	0
Maintenance expense	0	0	0	0
Depreciation expense	0	0	0	0
Marine operating expense	0	0	0	0
Operating lease expense	0	0	0.1	0.1
Other operating expense	0	0	0	0
Total Expenses	0	0	(0.1)	(0.1)
Disposition gains on owned assets	0	0	0	0
Residual sharing income	0	0	0	0
Nonremarketing disposition gains	0	0	0	0
Asset impairment		0	0	0
Net gain on asset dispositions	0	0	0	0
Interest Revenue (Expense), Net	1.4	2.4	2.9	(5)
Other (expense) income	(0.3)	0.1	0.8	1.4
Income (Loss) From Equity Method Investment, Before Tax	0	0	0	0
Segment profit (loss)	1.7	2.3	2.2	(6.3)
Revenues	0	0	0	0
Selected Balance Sheet Data
Portfolio Investments and Capital Additions	1.2	0.7	3.6	2.9
Investments in and Advance to Affiliates, Subsidiaries, Associates, and Joint Ventures	0		0		0
Identifiable assets	220.9		220.9		$ 226.3
Parent [Member]
Profitability
Income tax benefit	$ 41	17.5	$ 102.6	71.3
Cardinal Marine [Domain]
Profitability
Asset impairment		$ 19		$ 19