GATX (GATX) 10-Q 30 Oct 20 2020 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information shares in Thousands	9 Months Ended
	Sep. 30, 2020shares
Entity Addresses [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2020
Document Transition Report	false
Entity File Number	1-2328
Entity Registrant Name	GATX Corporation
Entity Incorporation, State or Country Code	NY
Entity Tax Identification Number	36-1124040
Entity Address, Address Line One	233 South Wacker Drive
Entity Address, City or Town	Chicago
Entity Address, State or Province	IL
Entity Address, Postal Zip Code	60606
City Area Code	312
Local Phone Number	621-6200
Entity Central Index Key	0000040211
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding	35,000
Amendment Flag	false
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	Q3
Current Fiscal Year End Date	--12-31
CHICAGO STOCK EXCHANGE, INC [Member]
Entity Addresses [Line Items]
Security Exchange Name	CHX
Common Stock [Member] | NEW YORK STOCK EXCHANGE, INC. [Member]
Entity Addresses [Line Items]
Trading Symbol	GATX
Security Exchange Name	NYSE
Title of 12(b) Security	Common Stock
Senior Notes [Member] | NEW YORK STOCK EXCHANGE, INC. [Member]
Entity Addresses [Line Items]
Trading Symbol	GMTA
Security Exchange Name	NYSE
Title of 12(b) Security	5.625% Senior Notes due 2066

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Millions	Sep. 30, 2020	Dec. 31, 2019
Assets
Cash and Cash Equivalents	$ 459.8	$ 151
Receivables
Rent and other receivables	70.6	65.9
Finance leases	63.3	90.3
Less: allowance for losses	(6.2)	(6.2)
Receivables, net	127.7	150
Operating Assets and Facilities
Operating Assets and Facilities	10,070.2	9,523.5
Less: allowance for depreciation	(3,226)	(3,066.2)
Operating assets and facilities, net	6,844.2	6,457.3
Lease Assets (as lessee)
Right-of-use assets, net of accumulated depreciation	364.3	411.7
Finance leases, net of accumulated depreciation	0	8.9
Lease assets	364.3	420.6
Investments in Affiliated Companies	582.5	512.6
Goodwill	84.2	81.5
Other Assets	227.6	221
Assets of Discontinued Operations	0	291.1
Total Assets	8,690.3	8,285.1
Liabilities and Shareholders’ Equity
Accounts Payable and Accrued Expenses	139.2	119.4
Debt
Commercial paper and borrowings under bank credit facilities	13.5	15.8
Recourse	5,183	4,780.4
Debt	5,196.5	4,796.2
Lease Obligations (as lessee)
Operating leases	368	429.4
Finance leases	0	7.9
Lease obligations	368	437.3
Deferred Income Taxes	936.4	888.5
Other Liabilities	120.2	139.1
Liabilities of Discontinued Operations	0	69.5
Total Liabilities	6,760.3	6,450
Shareholders’ Equity
Common stock, $0.625 par value: Authorized shares — 120,000,000 Issued shares — 67,325,950 and 67,083,149 Outstanding shares — 37,632,377 and 37,895,641	41.9	41.8
Additional paid in capital	730.8	720.1
Retained earnings	2,682	2,601.3
Accumulated other comprehensive loss	(160.2)	(163.6)
Treasury stock at cost (29,693,573 and 29,187,508 shares)	(1,364.5)	(1,364.5)
Total Shareholders’ Equity	1,930	1,835.1
Total Liabilities and Shareholders’ Equity	$ 8,690.3	$ 8,285.1
Common Stock, Shares Authorized	120,000,000	120,000,000
Common Stock, Par or Stated Value Per Share	$ 0.625	$ 0.625
Common Stock, Shares, Outstanding	34,981,666	34,833,037

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - $ / shares	Sep. 30, 2020	Dec. 31, 2019
Statement of Financial Position [Abstract]
Common stock, par value	$ 0.625	$ 0.625
Common stock, shares authorized	120,000,000	120,000,000
Common stock, shares issued	67,685,423	67,536,794
Common stock, shares outstanding	34,981,666	34,833,037
Treasury stock, shares outstanding	32,703,757	32,703,757

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income - USD ($) shares in Millions, $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Revenues
Lease revenue	$ 273.3	$ 270.5	$ 813.3	$ 816.8
Marine operating revenue	5	1.9	11.6	4.4
Other revenue	26.1	26.4	79.4	80.4
Total Revenues	304.4	298.8	904.3	901.6
Expenses
Maintenance expense	76.7	76.2	244.8	235.3
Marine operating expense	3.6	3.4	10.9	12
Depreciation	83.4	80	245.4	240.2
Operating lease expense	12.3	13.7	38.1	41.1
Other operating expense	8.3	7.7	26	23.5
Selling, general and administrative	42	42.6	125.8	129.6
Total Expenses	226.3	223.6	691	681.7
Other Income (Expense)
Net gain on asset dispositions	8.9	5.1	42.3	46.9
Interest expense, net	(48.6)	(44.7)	(141.5)	(135.3)
Other (expense) income	(1.2)	(1.7)	(12.2)	(5.3)
Income before Income Taxes and Share of Affiliates’ Earnings	37.2	33.9	101.9	126.2
Income taxes	(11.8)	(9.5)	(29.6)	(31.1)
Share of affiliates’ earnings, net of taxes	22.8	12.8	60.1	43.6
Net Income from Continuing Operations	48.2	37.2	132.4	138.7
Net income (loss) from discontinued operations, net of taxes	0	7.9	(2.2)	15.9
(Loss) gain on sale of discontinued operations, net of taxes	(0.3)	0	3.3	0
Discontinued Operations, Net of Taxes	(0.3)	7.9	1.1	15.9
Net income	47.9	45.1	133.5	154.6
Other Comprehensive Income, net of taxes
Foreign currency translation adjustments	19.7	(33.6)	(0.9)	(32.4)
Unrealized (loss) gain on derivative instruments	0.3	(1)	(3.7)	2.1
Post-retirement benefit plans	2.3	1.4	8	5.9
Other comprehensive income (loss)	22.3	(33.2)	3.4	(24.4)
Comprehensive Income	$ 70.2	$ 11.9	$ 136.9	$ 130.2
Share Data
Basic earnings per share from continuing operations (in dollars per share)	$ 1.38	$ 1.05	$ 3.79	$ 3.86
Basic earnings per share from discontinued operations (in dollars per share)	(0.01)	0.23	0.03	0.44
Basic earnings per share (in dollars per share)	$ 1.37	$ 1.28	$ 3.82	$ 4.30
Average number of common shares (in shares)	35	35.4	34.9	35.9
Diluted earnings per share from continuing operations (in dollars per share)	$ 1.36	$ 1.03	$ 3.74	$ 3.79
Diluted earnings per share from discontinued operations (in dollars per share)	(0.01)	0.22	0.03	0.43
Diluted earnings per share (in dollars per share)	$ 1.35	$ 1.25	$ 3.77	$ 4.22
Average number of common shares and common share equivalents (in shares)	35.4	36	35.4	36.6

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019
Operating Activities
Net income	$ 133.5	$ 154.6
Income (Loss) from Discontinued Operations, Net of Tax, Including Portion Attributable to Noncontrolling Interest	1.1	15.9
Income from discontinued operations, net of taxes	(2.2)	15.9
Net income from continuing operations	132.4	138.7
Adjustments to reconcile income to net cash provided by operating activities:
Depreciation	254.6	248.4
Gains on sales of assets	(40.5)	(45.5)
Deferred income taxes	29.8	20.9
Share of affiliates’ earnings, net of dividends	(60.1)	(43.6)
Other	(14.1)	(40.7)
Net cash provided by operating activities	302.1	278.2
Investing Activities
Additions to operating assets and facilities	(641.4)	(503.8)
Sale and Leaseback Transaction, Gain (Loss), Net		(1)
Portfolio proceeds	120.2	185.6
Proceeds from sales of other assets	17.5	18.9
Proceeds from the sale of ASC	257.2
Other	1.3	2
Net cash used in investing activities	(502.4)	(298.3)
Financing Activities
Net proceeds from issuances of debt (original maturities longer than 90 days)	1,465.8	549.7
Repayments of debt (original maturities longer than 90 days)	(1,100)	(410)
Net increase (decrease) in debt with original maturities of 90 days or less	(3.1)	2
Stock repurchases	0	(129)
Dividends	(53.7)	(52.8)
Purchases of assets previously leased	(40)	0
Other	(13.1)	3.3
Net cash (used in) provided by financing activities	255.9	(36.8)
Effect of Exchange Rate Changes on Cash and Cash Equivalents	(1)	(1.2)
Cash Provided by (Used in) Operating Activities, Discontinued Operations	(8.5)	18.9
Cash Provided by (Used in) Investing Activities, Discontinued Operations	240.9	(18.7)
Cash Provided by (Used in) Financing Activities, Discontinued Operations	21.8	(0.2)
Cash provided by discontinued operations, net	254.2	0
Net increase (decrease) in Cash and Cash Equivalents during the period	308.8	(58.1)
Cash and Cash Equivalents at beginning of the period	151	106.7
Cash and Cash Equivalents at end of the period	$ 459.8	$ 48.6

Consolidated Statements of Chan

Consolidated Statements of Changes in Shareholders' Equity Statement - USD ($) $ in Millions	Total	AOCI Attributable to Parent [Member]	Common Stock [Member]	Treasury Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]
Common Stock, Shares, Issued			67,300,000
Shares, Issued				(30,700,000)
Stockholders' Equity Attributable to Parent		$ (164.6)		$ (1,214.5)	$ 706.4	$ 2,419.2
Common Stock, Value, Issued			$ 41.6
Dividends Declared [Table Text Block]	1.38
Stock Repurchased During Period, Shares	(1,700,000)
Repurchase of common stock	$ (129.9)
APIC, Share-based Payment Arrangement, Increase for Cost Recognition					10.2
Stock Issued During Period, Shares, New Issues			200,000
Stock Issued During Period, Value, New Issues			$ 0.2
Net income	154.6
Dividends, Common Stock, Cash						(51.7)
New Accounting Pronouncement or Change in Accounting Principle, Effect of Adoption, Retained Earnings | Retained Earnings [Member]	39.4
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent	$ 24.4
Common Stock, Shares, Issued			67,500,000
Shares, Issued				(31,800,000)
Stockholders' Equity Attributable to Parent		(155.8)		$ (1,297.7)	713	2,533.5
Common Stock, Value, Issued			$ 41.8
Dividends Declared [Table Text Block]	0.46
Stock Repurchased During Period, Shares	(600,000)
Repurchase of common stock	$ (46.7)
APIC, Share-based Payment Arrangement, Increase for Cost Recognition					3.6
Stock Issued During Period, Shares, New Issues			0
Stock Issued During Period, Value, New Issues			$ 0
Net income	45.1
Dividends, Common Stock, Cash						(17.1)
New Accounting Pronouncement or Change in Accounting Principle, Effect of Adoption, Retained Earnings | Retained Earnings [Member]	0
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent	33.2
Common Stock, Shares, Issued			67,500,000
Shares, Issued				(32,400,000)
Stockholders' Equity Attributable to Parent	$ 1,786.5	(189)		$ (1,344.4)	716.6	2,561.5
Common Stock, Value, Issued			$ 41.8
Common Stock, Shares, Issued	67,536,794		67,500,000
Shares, Issued				(32,700,000)
Stockholders' Equity Attributable to Parent	$ 1,835.1	(163.6)		$ (1,364.5)	720.1	2,601.3
Common Stock, Value, Issued	$ 41.8		$ 41.8
Dividends Declared [Table Text Block]	1.44
Stock Repurchased During Period, Shares	0
Repurchase of common stock	$ 0
APIC, Share-based Payment Arrangement, Increase for Cost Recognition					10.7
Stock Issued During Period, Shares, New Issues			200,000
Stock Issued During Period, Value, New Issues			$ 0.1
Net income	133.5
Dividends, Common Stock, Cash						(52.8)
New Accounting Pronouncement or Change in Accounting Principle, Effect of Adoption, Retained Earnings | Retained Earnings [Member]	0
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent	$ (3.4)
Common Stock, Shares, Issued			67,700,000
Shares, Issued				(32,700,000)
Stockholders' Equity Attributable to Parent		(182.5)		$ (1,364.5)	728.8	2,651.7
Common Stock, Value, Issued			$ 41.8
Dividends Declared [Table Text Block]	0.48
Stock Repurchased During Period, Shares	0
Repurchase of common stock	$ 0
APIC, Share-based Payment Arrangement, Increase for Cost Recognition					2
Stock Issued During Period, Shares, New Issues			0
Stock Issued During Period, Value, New Issues			$ 0.1
Net income	47.9
Dividends, Common Stock, Cash						(17.6)
New Accounting Pronouncement or Change in Accounting Principle, Effect of Adoption, Retained Earnings | Retained Earnings [Member]	0
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent	$ (22.3)
Common Stock, Shares, Issued	67,685,423		67,700,000
Shares, Issued				(32,700,000)
Stockholders' Equity Attributable to Parent	$ 1,930	$ (160.2)		$ (1,364.5)	$ 730.8	$ 2,682
Common Stock, Value, Issued	$ 41.9		$ 41.9

Accumulated Other Comprehensive

Accumulated Other Comprehensive Income (Loss)	9 Months Ended
	Sep. 30, 2020
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 Loss on Derivative Instruments Post-Retirement Benefit Plans Total Balance at December 31, 2019 $ (68.1) $ (10.1) $ (85.4) $ (163.6) Change in component (39.6) 3.9 (0.2) (35.9) Reclassification adjustments into earnings (1) — (4.9) 3.1 (1.8) Income tax effect — 0.3 (0.7) (0.4) Balance at March 31, 2020 $ (107.7) $ (10.8) $ (83.2) $ (201.7) Change in component 19.0 (8.9) 1.2 11.3 Reclassification adjustments into earnings (1) — 4.8 3.0 7.8 Income tax effect — 0.8 (0.7) 0.1 Balance at June 30, 2020 $ (88.7) $ (14.1) $ (79.7) $ (182.5) Change in component 19.7 (10.6) 0.1 9.2 Reclassification adjustments into earnings (1) — 11.0 3.0 14.0 Income tax effect — (0.1) (0.8) (0.9) Balance at September 30, 2020 $ (69.0) $ (13.8) $ (77.4) $ (160.2) ________ (1) See "Note 7. Fair Value Disclosure" and "Note 8. Pension and Other Post-Retirement Benefits" for impacts of the reclassification adjustments on the statement of comprehensive income.

Accumulated Other Comprehensi_2

Accumulated Other Comprehensive Income (Loss) (Tables)	9 Months Ended
	Sep. 30, 2020
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 Loss on Derivative Instruments Post-Retirement Benefit Plans Total Balance at December 31, 2019 $ (68.1) $ (10.1) $ (85.4) $ (163.6) Change in component (39.6) 3.9 (0.2) (35.9) Reclassification adjustments into earnings (1) — (4.9) 3.1 (1.8) Income tax effect — 0.3 (0.7) (0.4) Balance at March 31, 2020 $ (107.7) $ (10.8) $ (83.2) $ (201.7) Change in component 19.0 (8.9) 1.2 11.3 Reclassification adjustments into earnings (1) — 4.8 3.0 7.8 Income tax effect — 0.8 (0.7) 0.1 Balance at June 30, 2020 $ (88.7) $ (14.1) $ (79.7) $ (182.5) Change in component 19.7 (10.6) 0.1 9.2 Reclassification adjustments into earnings (1) — 11.0 3.0 14.0 Income tax effect — (0.1) (0.8) (0.9) Balance at September 30, 2020 $ (69.0) $ (13.8) $ (77.4) $ (160.2) ________ (1) See "Note 7. Fair Value Disclosure" and "Note 8. Pension and Other Post-Retirement Benefits" for impacts of the reclassification adjustments on the statement of comprehensive income.

Accumulated Other Comprehensi_3

Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Millions	3 Months Ended
	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Beginning Balance, Foreign Currency Translation Gain (Loss)	$ (88.7)	$ (107.7)	$ (68.1)
Change in Foreign Currency Translation Gain (Loss)	19.7	19	(39.6)
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)	(69)	(88.7)	(107.7)
Change in Unrealized Loss on Derivative Instruments	(10.6)	(8.9)	3.9
Unrealized Loss on Derivative Instruments, Reclassification adjustments into earnings	11	4.8	(4.9)
Unrealized Loss on Derivative Instruments, Income tax effect	(0.1)	0.8	0.3
Accumulated Other Comprehensive Income (Loss), Cumulative Changes in Net Gain (Loss) from Cash Flow Hedges, Effect Net of Tax	(13.8)	(14.1)	(10.8)	$ (10.1)
Beginning Balance, Post-Retirement Benefit Plans	(79.7)	(83.2)	(85.4)
Change in Post-Retirement Benefit Plans	0.1	1.2	(0.2)
Post-Retirement Benefit Plans, Reclassification adjustments into earnings	3	3	3.1
Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI, before Tax	14	7.8	(1.8)
Post-Retirement Benefit Plans, Income tax effect	(0.8)	(0.7)	(0.7)
Ending Balance, Post-Retirement Benefit Plans	(77.4)	(79.7)	(83.2)
Other Comprehensive Income Change in Component	9.2	11.3	(35.9)
Income tax effect, Total	(0.9)	0.1	(0.4)
Accumulated other comprehensive income (loss), net of tax	$ (160.2)	$ (182.5)	$ (201.7)	$ (163.6)

Description of Business

Description of Business	9 Months Ended
	Sep. 30, 2020
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 report our financial results through three primary business segments: Rail North America , Rail International, and Portfolio Management. Historically, we also reported financial results for American Steamship Company ("ASC") as a fourth segment. On May 14, 2020, we completed the sale of our ASC business, subject to customary post-closing adjustments. As a result, ASC is now reported as discontinued operations, and financial data for the ASC segment has been segregated and presented as discontinued operations for all periods presented. See "Note 16. Discontinued Operations" of this Form 10-Q for additional information.

Coronavirus Impacts

Coronavirus Impacts	9 Months Ended
	Sep. 30, 2020
Unusual or Infrequent Items, or Both [Abstract]
Unusual or Infrequent Items, or Both, Disclosure	Coronavirus Impacts On March 11, 2020, the World Health Organization declared the Coronavirus Disease 2019 (“COVID-19”) a pandemic and on March 13, 2020, the United States declared a national emergency related to COVID-19. Our consolidated financial statements reflect estimates and assumptions at the date of the consolidated financial statements and reported amounts of revenue and expenses during the reporting periods presented. We considered the impact of COVID-19 on our operations and the assumptions and estimates used. While COVID-19 did have a negative impact on operating conditions in the three and nine months ended September 30, 2020, we determined the impact to our assumptions and estimates was not significant. However, we expect COVID-19 will continue to have an adverse impact on our operating and financial results in future periods, the magnitude and duration of which cannot be determined at this time. On March 27, 2020, the U.S. government enacted the Coronavirus Aid, Relief, and Economic Security Act (“CARES Act”), which includes modifications to the interest expense limitation threshold and net operating loss carryback period and utilization limitation, the acceleration of payments for alternative minimum tax credit refunds, and the deferral of employer payroll tax payments. The CARES Act is not expected to have a material impact on our consolidated financial statements.

Accounting Changes

Accounting Changes	9 Months Ended
	Sep. 30, 2020
Accounting Changes and Error Corrections [Abstract]
Accounting Changes	Basis of Presentation We prepared the accompanying unaudited consolidated financial statements in accordance with U.S. 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. Certain prior year amounts have been reclassified to conform to the 2020 presentation, including the separate presentation and reporting of discontinued operations. Operating results for the nine months ended September 30, 2020 are not necessarily indicative of the results we may achieve for the entire year ending December 31, 2020. In particular, 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, 2019. New Accounting Pronouncements Adopted Standard/Description Effective Date and Adoption Considerations Effect on Financial Statements or Other Significant Matters Credit Losses In June 2016, the FASB issued ASU 2016-13, Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments, which supersedes previous guidance. The FASB subsequently issued ASU 2018-19, clarifying operating lease receivables are not within the scope of subtopic 326-20 and should be accounted for in accordance with Topic 842, Leases . The new guidance modifies the impairment model to be based on expected losses rather than incurred losses. We adopted the new guidance in the first quarter of 2020. New Accounting Pronouncements Not Yet Adopted Standard/Description Effective Date and Adoption Considerations Effect on Financial Statements or Other Significant Matters Income Taxes Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes, which eliminates exceptions for intraperiod tax allocation, the methodology for calculating income taxes in an interim period, and the recognition of deferred tax liabilities for outside basis differences.

Revenue Revenue

Revenue Revenue	9 Months Ended
	Sep. 30, 2020
Revenue from Contract with Customer [Abstract]
Revenue	Revenue Revenue Recognition Revenue is recognized when control of the promised goods or services is transferred to our customers, in an amount that reflects the consideration we expect to be entitled to in exchange for those goods or services. We disaggregate revenue into three categories as presented on our income statement: Lease Revenue Lease revenue, which includes operating lease revenue and finance lease revenue, is our primary source of revenue. In accordance with ASU 2016-02, Leases (Topic 842) ("Topic 842"), we utilize the practical expedient that allows lessors to not separate non-lease components from the associated lease components for our operating leases. Operating Lease Revenue We lease railcars and other operating assets under full-service and net operating leases. We price full-service leases as an integrated service that includes amounts related to maintenance, insurance, and ad valorem taxes. We do not offer stand-alone maintenance service contracts. Operating lease revenue is within the scope of Topic 842, and we do not separate non-lease components from the associated lease component for qualifying leases. Operating lease revenue is recognized on a straight-line basis over the term of the underlying lease. As a result, lease revenue may not be recognized in the same period as maintenance and other costs, which we expense as incurred. Variable rents are recognized when applicable contingencies are resolved. Revenue is not recognized if collectability is not reasonably assured. See "Note 5. Leases". Finance Lease Revenue In certain cases, we lease railcars and other operating assets that, at lease inception, are classified as finance leases. In accordance with Topic 842, we recognize finance lease revenue using the interest method, which produces a constant yield over the lease term. Initial unearned income is the amount by which the original lease payment receivable and the estimated residual value of the leased asset exceeds the original cost or carrying value of the leased asset. See "Note 5. Leases". Marine Operating Revenue We generate marine operating revenue through shipping services completed by our marine vessels. In accordance with ASU 2014-09, Revenue from Contracts and Customers (Topic 606) ("Topic 606"), marine operating revenue is recognized over time as the performance obligation is satisfied, beginning when cargo is loaded through its delivery and discharge. Revenue is recognized pro rata over the projected duration of each voyage, which is derived from historical voyage data. Other Revenue Other revenue is comprised of customer liability repair revenue, termination fees, utilization income, fee income, and other miscellaneous revenues. Select components of other revenue are within the scope of Topic 606. Revenue attributable to terms provided in our lease contracts are variable lease components that are recognized when earned, in accordance with Topic 842.

Leases

Leases	9 Months Ended
	Sep. 30, 2020
Leases [Abstract]
Leases [Text Block]	NOTE 5. Leases GATX as Lessor We lease railcars and other operating assets under full-service and net operating leases. We price full-service leases as an integrated service that includes amounts related to maintenance, insurance, and ad valorem taxes. Upon adoption of the new lease accounting standard in 2019, we elected the lessor practical expedient which allows us not to separate lease and non-lease components when reporting revenue for our full-service operating leases. In some cases, we lease railcars that, at commencement, are classified as finance leases. For certain operating leases, revenue is based on equipment usage and is recognized when earned. Typically, our leases do not provide customers with renewal options or options to purchase the asset. Our lease agreements do not generally have residual value guarantees. We collect reimbursements from customers for damage to our railcars, as well as additional rental payments for usage above specified levels, as provided in the lease agreements. The following table shows the components of our lease income (in millions): Three Months Ended Nine Months Ended 2020 2019 2020 2019 Operating lease income: Fixed lease income $ 258.6 $ 253.4 $ 764.7 $ 759.1 Variable lease income 13.2 14.9 43.7 50.0 Total operating lease income $ 271.8 $ 268.3 $ 808.4 $ 809.1 Finance lease income 1.5 2.2 4.9 7.7 Total lease income $ 273.3 $ 270.5 $ 813.3 $ 816.8 In accordance with the terms of our leases with customers, we may earn additional revenue, primarily for customer liability repairs. These amounts are reported in other revenue in the statements of comprehensive income and were $22.7 million and $69.1 million for the three and nine months ended September 30, 2020 and $22.3 million and $66.6 million for the three and nine months ended September 30, 2019.
Leases	Leases GATX as Lessor We lease railcars and other operating assets under full-service and net operating leases. We price full-service leases as an integrated service that includes amounts related to maintenance, insurance, and ad valorem taxes. Upon adoption of the new lease accounting standard in 2019, we elected the lessor practical expedient which allows us not to separate lease and non-lease components when reporting revenue for our full-service operating leases. In some cases, we lease railcars that, at commencement, are classified as finance leases. For certain operating leases, revenue is based on equipment usage and is recognized when earned. Typically, our leases do not provide customers with renewal options or options to purchase the asset. Our lease agreements do not generally have residual value guarantees. We collect reimbursements from customers for damage to our railcars, as well as additional rental payments for usage above specified levels, as provided in the lease agreements. The following table shows the components of our lease income (in millions): Three Months Ended Nine Months Ended 2020 2019 2020 2019 Operating lease income: Fixed lease income $ 258.6 $ 253.4 $ 764.7 $ 759.1 Variable lease income 13.2 14.9 43.7 50.0 Total operating lease income $ 271.8 $ 268.3 $ 808.4 $ 809.1 Finance lease income 1.5 2.2 4.9 7.7 Total lease income $ 273.3 $ 270.5 $ 813.3 $ 816.8 In accordance with the terms of our leases with customers, we may earn additional revenue, primarily for customer liability repairs. These amounts are reported in other revenue in the statements of comprehensive income and were $22.7 million and $69.1 million for the three and nine months ended September 30, 2020 and $22.3 million and $66.6 million for the three and nine months ended September 30, 2019.
Leases	Leases GATX as Lessor We lease railcars and other operating assets under full-service and net operating leases. We price full-service leases as an integrated service that includes amounts related to maintenance, insurance, and ad valorem taxes. Upon adoption of the new lease accounting standard in 2019, we elected the lessor practical expedient which allows us not to separate lease and non-lease components when reporting revenue for our full-service operating leases. In some cases, we lease railcars that, at commencement, are classified as finance leases. For certain operating leases, revenue is based on equipment usage and is recognized when earned. Typically, our leases do not provide customers with renewal options or options to purchase the asset. Our lease agreements do not generally have residual value guarantees. We collect reimbursements from customers for damage to our railcars, as well as additional rental payments for usage above specified levels, as provided in the lease agreements. The following table shows the components of our lease income (in millions): Three Months Ended Nine Months Ended 2020 2019 2020 2019 Operating lease income: Fixed lease income $ 258.6 $ 253.4 $ 764.7 $ 759.1 Variable lease income 13.2 14.9 43.7 50.0 Total operating lease income $ 271.8 $ 268.3 $ 808.4 $ 809.1 Finance lease income 1.5 2.2 4.9 7.7 Total lease income $ 273.3 $ 270.5 $ 813.3 $ 816.8 In accordance with the terms of our leases with customers, we may earn additional revenue, primarily for customer liability repairs. These amounts are reported in other revenue in the statements of comprehensive income and were $22.7 million and $69.1 million for the three and nine months ended September 30, 2020 and $22.3 million and $66.6 million for the three and nine months ended September 30, 2019.
Leases	Leases GATX as Lessor We lease railcars and other operating assets under full-service and net operating leases. We price full-service leases as an integrated service that includes amounts related to maintenance, insurance, and ad valorem taxes. Upon adoption of the new lease accounting standard in 2019, we elected the lessor practical expedient which allows us not to separate lease and non-lease components when reporting revenue for our full-service operating leases. In some cases, we lease railcars that, at commencement, are classified as finance leases. For certain operating leases, revenue is based on equipment usage and is recognized when earned. Typically, our leases do not provide customers with renewal options or options to purchase the asset. Our lease agreements do not generally have residual value guarantees. We collect reimbursements from customers for damage to our railcars, as well as additional rental payments for usage above specified levels, as provided in the lease agreements. The following table shows the components of our lease income (in millions): Three Months Ended Nine Months Ended 2020 2019 2020 2019 Operating lease income: Fixed lease income $ 258.6 $ 253.4 $ 764.7 $ 759.1 Variable lease income 13.2 14.9 43.7 50.0 Total operating lease income $ 271.8 $ 268.3 $ 808.4 $ 809.1 Finance lease income 1.5 2.2 4.9 7.7 Total lease income $ 273.3 $ 270.5 $ 813.3 $ 816.8 In accordance with the terms of our leases with customers, we may earn additional revenue, primarily for customer liability repairs. These amounts are reported in other revenue in the statements of comprehensive income and were $22.7 million and $69.1 million for the three and nine months ended September 30, 2020 and $22.3 million and $66.6 million for the three and nine months ended September 30, 2019.
Leases	Leases GATX as Lessor We lease railcars and other operating assets under full-service and net operating leases. We price full-service leases as an integrated service that includes amounts related to maintenance, insurance, and ad valorem taxes. Upon adoption of the new lease accounting standard in 2019, we elected the lessor practical expedient which allows us not to separate lease and non-lease components when reporting revenue for our full-service operating leases. In some cases, we lease railcars that, at commencement, are classified as finance leases. For certain operating leases, revenue is based on equipment usage and is recognized when earned. Typically, our leases do not provide customers with renewal options or options to purchase the asset. Our lease agreements do not generally have residual value guarantees. We collect reimbursements from customers for damage to our railcars, as well as additional rental payments for usage above specified levels, as provided in the lease agreements. The following table shows the components of our lease income (in millions): Three Months Ended Nine Months Ended 2020 2019 2020 2019 Operating lease income: Fixed lease income $ 258.6 $ 253.4 $ 764.7 $ 759.1 Variable lease income 13.2 14.9 43.7 50.0 Total operating lease income $ 271.8 $ 268.3 $ 808.4 $ 809.1 Finance lease income 1.5 2.2 4.9 7.7 Total lease income $ 273.3 $ 270.5 $ 813.3 $ 816.8 In accordance with the terms of our leases with customers, we may earn additional revenue, primarily for customer liability repairs. These amounts are reported in other revenue in the statements of comprehensive income and were $22.7 million and $69.1 million for the three and nine months ended September 30, 2020 and $22.3 million and $66.6 million for the three and nine months ended September 30, 2019.

Investments in Affiliated Compa

Investments in Affiliated Companies	9 Months Ended
	Sep. 30, 2020
Investments in and Advances to Affiliates [Abstract]
Investments in and Advances to Affiliates, Schedule of Investments [Text Block]	Investments in Affiliated Companies Our affiliate investments primarily include interests in each of the Rolls-Royce & Partners Finance joint ventures (collectively the “RRPF affiliates”), a group of 50% owned domestic and foreign joint ventures with Rolls-Royce plc, a leading manufacturer of commercial aircraft jet engines. In accordance with Regulation S-X, we must assess if any of our investments in affiliated companies is a “significant subsidiary”. As of September 30, 2020, we determined that Alpha Partners Leasing Limited, which is part of the RRPF affiliates, triggered at least one of the significance tests. As a result, and in accordance with Rule 10-01(b) of Regulation S-X, the following table shows summarized unaudited financial information for Alpha Partners Leasing Limited (in millions): Three Months Ended Nine Months Ended 2020 2019 2020 2019 Total revenue $ 112.5 $ 94.0 $ 318.5 $ 283.5 Total expenses (95.9) (75.1) (271.0) (227.7) Other income, including net gains on sales of assets 10.0 6.8 48.2 33.1 Net income 21.7 20.8 77.6 72.0

Fair Value Disclosure

Fair Value Disclosure	9 Months Ended
	Sep. 30, 2020
Fair Value Disclosures [Abstract]
Fair Value Disclosure	Fair Value Disclosure The assets and liabilities that GATX records at fair value on a recurring basis consisted entirely of derivatives at September 30, 2020 and December 31, 2019. In addition, we review long-lived assets, such as operating assets and facilities, investments in affiliates, and goodwill, whenever circumstances indicate that the carrying amount of these assets may not be recoverable or when assets may be classified as held for sale. We considered COVID-19 as part of our assessment during the quarter and determined there were no material impacts on our final conclusions. We will continue to monitor our long-lived assets, investments in affiliates, and goodwill for indicators of impairment as COVID-19 continues to impact the global economy. Derivative Instruments Fair Value Hedges We use interest rate swaps to manage the fixed-to-floating rate mix of our debt obligations by converting a portion of our 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 five instruments outstanding with an aggregate notional amount of $300.0 million as of September 30, 2020 with maturities ranging from 2021 to 2022 and eight instruments outstanding with an aggregate notional amount of $450.0 million as of December 31, 2019 with maturities ranging from 2020 to 2022. Cash Flow Hedges We use Treasury rate locks and swap rate locks to hedge our exposure to interest rate risk on anticipated transactions. We also use currency swaps, forwards, and put/call options to hedge our exposure to fluctuations in the exchange rates of foreign currencies for certain loans and operating expenses denominated in non-functional currencies. We had six instruments outstanding with an aggregate notional amount of $136.1 million as of September 30, 2020 that mature from 2020 to 2022 and seven instruments outstanding with an aggregate notional amount of $336.5 million as of December 31, 2019 with maturities ranging from 2020 to 2022. Within the next 12 months, we expect to reclassify $2.1 million ($1.6 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 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. Certain 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, 2020 was $9.0 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 tables show our derivative assets and liabilities that are measured at fair value (in millions): Balance Sheet Location Fair Value Quoted Significant Observable Inputs Significant Unobservable Derivative Assets Interest rate contracts (1) Other assets $ 6.9 $ — $ 6.9 $ — Total derivative assets $ 6.9 $ — $ 6.9 $ — Derivative Liabilities Foreign exchange contracts (1) Other liabilities $ 9.0 $ — $ 9.0 $ — Foreign exchange contracts (2) Other liabilities 0.9 — 0.9 — Total derivative liabilities $ 9.9 $ — $ 9.9 $ — Balance Sheet Location Fair Value Quoted Significant Observable Inputs Significant Unobservable Derivative Assets Interest rate contracts (1) Other assets $ 1.4 $ — $ 1.4 $ — Foreign exchange contracts (1) Other assets 6.9 — 6.9 — Foreign exchange contracts (2) Other assets 0.2 — 0.2 — Total derivative assets $ 8.5 $ — $ 8.5 $ — Derivative Liabilities Interest rate contracts (1) Other liabilities $ 0.6 $ — $ 0.6 $ — Foreign exchange contracts (1) Other liabilities 7.0 — 7.0 — Foreign exchange contracts (2) Other liabilities 6.0 — 6.0 — Total derivative liabilities $ 13.6 $ — $ 13.6 $ — _________ (1) Designated as hedges. (2) Not designated as hedges. 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. As of September 30, 2020 and December 31, 2019, all derivatives were classified as Level 2 in the fair value hierarchy. There were no derivatives classified as Level 1 or Level 3. The following table shows the amounts recorded on the balance sheet related to cumulative basis adjustments for fair value hedges as of September 30, 2020 and December 31, 2019 (in millions). Carrying Amount of the Hedged Assets/(Liabilities) Cumulative Amount of Fair Value Hedging Adjustment Included in the Carrying Amount of the Hedged Assets/(Liabilities) Line Item in the Balance Sheet in Which the Hedged Item is Included September 30 December 31 September 30 December 31 Recourse debt $ (304.3) $ (449.9) $ 6.9 $ 1.4 The following tables show the impacts of our derivative instruments on our statement of comprehensive income for the three and nine months ended September 30, 2020 and 2019 (in millions): Amount of Loss (Gain) Recognized in Other Comprehensive Income Location of Loss (Gain) Reclassified from Accumulated Other Comprehensive Income into Income Amount of Loss (Gain) Reclassified from Accumulated Other Comprehensive Income into Income Three Months Ended September 30 Three Months Ended September 30 Derivative Designation 2020 2019 2020 2019 Derivatives in cash flow hedging relationships: Interest rate contracts $ — $ 1.6 Interest expense $ 0.6 $ 0.5 Foreign exchange contracts 10.5 (19.8) Other (income) expense 10.4 (19.3) Total $ 10.5 $ (18.2) Total $ 11.0 $ (18.8) Amount of Loss (Gain) Recognized in Other Comprehensive Income Location of Loss (Gain) Reclassified from Accumulated Other Comprehensive Income into Income Amount of Loss (Gain) Reclassified from Accumulated Other Comprehensive Income into Income Nine Months Ended Nine Months Ended September 30 Derivative Designation 2020 2019 2020 2019 Derivatives in cash flow hedging relationships: Interest rate contracts $ (0.5) $ 1.6 Interest expense $ 1.4 $ 2.0 Foreign exchange contracts 15.2 (28.5) Other (income) expense 9.5 (24.4) Total $ 14.7 $ (26.9) Total $ 10.9 $ (22.4) The following tables show the impact of our fair value and cash flow hedge accounting relationships, as well as the impact of our non-designated derivatives, on the statement of comprehensive income for the three and nine months ended September 30, 2020 and 2019 (in millions): Location and Amount of Gain (Loss) Recognized in Income on Fair Value and Cash Flow Hedging Relationships Three Months Ended Three Months Ended 2020 2019 Interest (expense), net Other income (expense) Interest (expense), net Other income (expense) Total amounts of income and expense presented in the statements of comprehensive income in which the effects of fair value or cash flow hedges are recorded $ (48.6) $ (1.2) $ (44.7) $ (1.7) Gain (loss) on fair value hedging relationships Interest rate contracts: Hedged items 1.3 — (1.3) — Derivatives designated as hedging instruments (1.3) — 1.3 — Gain (loss) on cash flow hedging relationships Interest rate contracts: Amount of gain (loss) reclassified from accumulated other comprehensive income into income (0.6) — (0.5) — Foreign exchange contracts: Amount of gain (loss) reclassified from accumulated other comprehensive income into income (1) — (10.4) — 19.3 Gain (loss) on non-designated derivative contracts — 2.2 — 4.0 Location and Amount of Gain (Loss) Recognized in Income on Fair Value and Cash Flow Hedging Relationships Nine Months Ended Nine Months Ended 2020 2019 Interest (expense), net Other income (expense) Interest (expense), net Other income (expense) Total amounts of income and expense presented in the statements of comprehensive income in which the effects of fair value or cash flow hedges are recorded $ (141.5) $ (12.2) $ (135.3) $ (5.3) Gain (loss) on fair value hedging relationships Interest rate contracts: Hedged items (5.4) — (9.8) — Derivatives designated as hedging instruments 5.4 — 9.8 — Gain (loss) on cash flow hedging relationships Interest rate contracts: Amount of gain (loss) reclassified from accumulated other comprehensive income into income (1.4) — (2.0) — Foreign exchange contracts: Amount of gain (loss) reclassified from accumulated other comprehensive income into income (1) — (9.5) — 24.4 Gain (loss) on non-designated derivative contracts — 4.6 — 1.3 _________ (1) These amounts are substantially offset by foreign currency remeasurement adjustments on related hedged instruments, also recognized in other income (expense). Other Financial Instruments Except for derivatives, as disclosed above, GATX has no other assets and liabilities measured at fair value on a recurring basis. The carrying amounts of cash and cash equivalents, rent and other receivables, accounts payable, and commercial paper and borrowings under bank credit facilities with maturities under one year approximate fair value due to the short maturity of those instruments. We estimate the fair values of fixed and floating rate debt using discounted cash flow analyses that are based on interest rates currently offered for loans with similar terms to borrowers of similar credit quality. The inputs we use to estimate each of these values are classified in Level 2 of the fair value hierarchy because they are directly or indirectly observable inputs. The following table shows the carrying amounts and fair values of our other financial instruments (in millions): September 30, 2020 December 31, 2019 Carrying Fair Carrying Fair Liabilities Recourse fixed rate debt $ 4,788.3 $ 5,295.4 $ 4,389.3 $ 4,644.6 Recourse floating rate debt 422.9 419.7 417.5 419.0

Pension and Other Post-Retireme

Pension and Other Post-Retirement Benefits	9 Months Ended
	Sep. 30, 2020
Retirement Benefits [Abstract]
Pension and Other Post-Retirement Benefits	Pension and Other Post-Retirement Benefits The following table shows the components of our pension and other post-retirement net periodic cost for the three months ended September 30, 2020 and 2019 (in millions): 2020 2019 2020 2019 Service cost $ 2.0 $ 1.7 $ — $ — Interest cost 3.1 3.8 0.1 0.2 Expected return on plan assets (5.0) (5.6) — — Amortization of (1): Unrecognized prior service credit — — — — Unrecognized net actuarial loss (gain) 3.1 2.0 (0.1) — Net periodic cost $ 3.2 $ 1.9 $ — $ 0.2 The following table shows the components of our pension and other post-retirement benefits expense for the nine months ended September 30, 2020 and 2019 (in millions): 2020 2019 2020 2019 Service cost $ 6.0 $ 4.9 $ 0.1 $ 0.1 Interest cost 9.2 11.4 0.4 0.7 Expected return on plan assets (15.1) (16.6) — — Amortization of (1): Unrecognized prior service credit — — (0.1) (0.1) Unrecognized net actuarial loss (gain) 9.5 6.0 (0.3) (0.1) Net periodic cost $ 9.6 $ 5.7 $ 0.1 $ 0.6 _______ (1) Amounts reclassified from accumulated other comprehensive loss.

Share-Based Compensation

Share-Based Compensation	9 Months Ended
	Sep. 30, 2020
Share-based Payment Arrangement [Abstract]
Share-Based Compensation	Share-Based Compensation During the nine months ended September 30, 2020, we granted 288,000 non-qualified employee stock options, 34,950 restricted stock units, 54,270 performance shares, and 20,361 phantom stock units. For the three months and nine months ended September 30, 2020, total share-based compensation expense was $3.9 million and $9.8 million and the related tax benefits were $1.0 million and $2.5 million. For the three months and nine months ended September 30, 2019, total share-based compensation expense was $4.1 million and $13.7 million the related tax benefits were $1.0 million and $3.4 million. The estimated fair value of our 2020 non-qualified employee stock option awards and related underlying assumptions are shown in the table below. 2020 Weighted-average estimated fair value $22.50 Quarterly dividend rate $0.48 Expected term of stock options, in years 4.2 Risk-free interest rate 1.3% Dividend yield 2.5% Expected stock price volatility 28.5% Present value of dividends $7.89

Income Taxes

Income Taxes	9 Months Ended
	Sep. 30, 2020
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes Our effective income tax rate for continuing operations was 29.1% for the nine months ended September 30, 2020, compared to 24.7% for the nine months ended September 30, 2019. The difference in the effective rate for the current year compared to the prior year is primarily attributable to the prior year reduction of the corporate income tax rate enacted in Alberta, Canada. Additionally, the effective tax rate was impacted by the mix of pre-tax income among domestic and foreign jurisdictions, which are taxed at different rates, and the reduction of the corporate income tax rate enacted in India in the current year. Incremental tax benefits associated with share-based compensation were also recognized in each period. Our effective income tax rate for discontinued operations was 93.0% for the nine months ended September 30, 2020, compared to 23.1% for the nine months ended September 30, 2019. The difference in the effective tax rate in the current year compared to the prior year is primarily attributable to the tax impacts from the sale of our ASC business on May 14, 2020.

Commercial Commitments

Commercial Commitments	9 Months Ended
	Sep. 30, 2020
Guarantees [Abstract]
Commercial Commitments	Commercial Commitments We have entered into various commercial commitments, such as standby letters of credit, performance bonds, and guarantees 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 Standby letters of credit and performance bonds $ 9.3 $ 9.3 Derivative guarantees 1.5 — Total commercial commitments (1) $ 10.8 $ 9.3 _______ (1) There were no liabilities recorded on the balance sheet for commercial commitments at September 30, 2020 and December 31, 2019. As of September 30, 2020, our outstanding commitments expire in 2020 through 2023. We are not aware of any event that would require us to satisfy any of our commitments.

Earnings Per Share

Earnings Per Share	9 Months Ended
	Sep. 30, 2020
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 weight shares issued or reacquired 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. 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 2020 2019 2020 2019 Numerator: Net income from continuing operations $ 48.2 $ 37.2 $ 132.4 $ 138.7 Net (loss) income from discontinued operations (0.3) 7.9 1.1 15.9 Net income $ 47.9 $ 45.1 $ 133.5 $ 154.6 Denominator: Weighted-average shares outstanding - basic 35.0 35.4 34.9 35.9 Effect of dilutive securities: Equity compensation plans 0.4 0.6 0.5 0.7 Weighted-average shares outstanding - diluted 35.4 36.0 35.4 36.6 Basic earnings per share from continuing operations $ 1.38 $ 1.05 $ 3.79 $ 3.86 Basic earnings per share from discontinued operations (0.01) 0.23 0.03 0.44 Basic earnings per share from consolidated operations $ 1.37 $ 1.28 $ 3.82 $ 4.30 Diluted earnings per share from continuing operations $ 1.36 $ 1.03 $ 3.74 $ 3.79 Diluted earnings per share from discontinued operations (0.01) 0.22 0.03 0.43 Diluted earnings per share from consolidated operations $ 1.35 $ 1.25 $ 3.77 $ 4.22

Legal Proceedings and Other Con

Legal Proceedings and Other Contingencies	9 Months Ended
	Sep. 30, 2020
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 the notes included with our consolidated financial statements in our Annual Report on Form 10-K for the year ended December 31, 2019. Viareggio Derailment In June 2009, tank cars owned by GATX Rail Austria GmbH and its subsidiaries (collectively, “GRA”) and leased to a subsidiary of the Italian state-owned railway (the "Italian Railway") were involved in a train derailment in Viareggio, Italy, resulting in personal injuries, deaths, and property damage. Claimants filed numerous civil claims and Italian prosecutors brought criminal charges against GRA, various Italian Railway companies, and certain of their current or former employees. The insurers for the Italian Railway and GRA have fully settled and resolved most of the civil claims. In January 2017, an Italian trial court in Lucca, Italy found the defendants guilty of negligence-based crimes related to the accident. The court imposed a fine of 1.4 million Euros against GRA and prison sentences against its employees. GRA appealed the trial court's ruling to the Court of Appeals in Florence, and on June 20, 2019, the appellate court affirmed the guilty verdicts, with minor reductions in fines and penalties. GRA and the employees appealed to the Supreme Court in Rome, Italy, which scheduled the commencement of oral argument for December 2, 2020. The length and schedule for the parties’ oral arguments are currently unknown, but we expect the Italian Supreme Court to render its decision immediately following the conclusion of the oral argument phase. GRA will continue to incur legal expenses and related costs in connection with the appeal, although these expenses are not expected to be material. We cannot predict the outcome of the appellate process and thus cannot reasonably estimate the possible amount or range of loss that ultimately may be incurred in connection with this litigation.

Financial Data of Business Segm

Financial Data of Business Segments	9 Months Ended
	Sep. 30, 2020
Segment Reporting [Abstract]
Financial Data of Business Segments	Financial Data of Business Segments The financial data presented below depicts the profitability, financial position, and capital expenditures of each of our business segments. We lease, operate, manage, and remarket long-lived, widely-used assets, primarily in the rail market. We report our financial results through three primary business segments: Rail North America , Rail International, and Portfolio Management. Historically, we also reported financial results for American Steamship Company ("ASC") as a fourth segment. On May 14, 2020, we completed the sale of our ASC business, subject to customary post-closing adjustments. As a result, ASC is now reported as discontinued operations, and financial data for the ASC segment has been segregated and presented as discontinued operations for all periods presented. See "Note 16. Discontinued Operations" of this Form 10-Q for additional information. Rail North America is composed of our operations in the United States, Canada, and Mexico. 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 operations in Europe ("GATX Rail Europe" or "GRE"), India ("GRI"), and Russia ("Rail Russia"). GRE leases railcars to customers throughout Europe pursuant to full-service leases under which it maintains the railcars and provides value-adding services according to customer requirements. Portfolio Management is composed primarily of our ownership in the RRPF affiliates, a group of joint ventures with Rolls-Royce plc that lease aircraft spare engines, as well as five liquefied gas carrying vessels (the "Specialized Gas Vessels"). Segment profit is an internal performance measure used by the Chief Executive Officer to assess the profitability of each segment. Segment profit includes all revenues, expenses, pre-tax earnings from affiliates, and net gains on asset dispositions that are directly attributable to each segment. We allocate interest expense to the segments based on what we believe to be the appropriate risk-adjusted borrowing costs for each segment. 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. The following tables show certain segment data for each of our business segments (in millions): Other GATX Consolidated Three Months Ended September 30, 2020 Revenues Lease revenue $ 208.7 $ 64.5 $ 0.1 $ — $ 273.3 Marine operating revenue — — 5.0 — 5.0 Other revenue 23.4 2.6 0.1 — 26.1 Total Revenues 232.1 67.1 5.2 — 304.4 Expenses Maintenance expense 63.2 13.5 — — 76.7 Marine operating expense — — 3.6 — 3.6 Depreciation expense 65.0 17.1 1.3 — 83.4 Operating lease expense 12.3 — — — 12.3 Other operating expense 6.6 1.6 0.1 — 8.3 Total Expenses 147.1 32.2 5.0 — 184.3 Other Income (Expense) Net gain on asset dispositions 7.9 0.5 0.5 — 8.9 Interest (expense) income, net (35.7) (11.9) (3.2) 2.2 (48.6) Other (expense) income (1.1) 0.5 — (0.6) (1.2) Share of affiliates' pre-tax income — — 46.8 — 46.8 Segment profit $ 56.1 $ 24.0 $ 44.3 $ 1.6 $ 126.0 Less: Selling, general and administrative expense 42.0 Income taxes (includes $24.0 related to affiliates' earnings) 35.8 Net income from continuing operations $ 48.2 Discontinued Operations, Net of Taxes Net income from discontinued operations, net of taxes $ — Loss on sale of discontinued operations, net of taxes (0.3) Total discontinued operations, net of taxes $ (0.3) Net income $ 47.9 Net Gain on Asset Dispositions Asset Remarketing Income: Net gains on disposition of owned assets $ 7.8 $ 0.2 $ — $ — $ 8.0 Residual sharing income 0.1 — 0.5 — 0.6 Non-remarketing net gains (1) — 0.3 — — 0.3 $ 7.9 $ 0.5 $ 0.5 $ — $ 8.9 Capital Expenditures Portfolio investments and capital additions $ 204.1 $ 45.3 $ — $ 0.5 $ 249.9 Selected Balance Sheet Data at September 30, 2020 Investments in affiliated companies $ 0.2 $ — $ 582.3 $ — $ 582.5 Identifiable assets from continuing operations $ 5,838.9 $ 1,654.3 $ 709.7 $ 487.4 $ 8,690.3 __________ (1) Includes net gains (losses) from scrapping of railcars. Other GATX Consolidated Three Months Ended September 30, 2019 Revenues Lease revenue $ 214.6 $ 55.6 $ 0.3 $ — $ 270.5 Marine operating revenue — — 1.9 — 1.9 Other revenue 23.9 2.4 0.1 — 26.4 Total Revenues 238.5 58.0 2.3 — 298.8 Expenses Maintenance expense 64.0 12.2 — — 76.2 Marine operating expense — — 3.4 — 3.4 Depreciation expense 63.9 14.5 1.6 — 80.0 Operating lease expense 13.7 — — — 13.7 Other operating expense 6.2 1.4 0.1 — 7.7 Total Expenses 147.8 28.1 5.1 — 181.0 Other Income (Expense) Net gain on asset dispositions 4.3 0.3 0.5 — 5.1 Interest (expense) income, net (33.1) (10.2) (2.8) 1.4 (44.7) Other expense (1.0) (0.1) — (0.6) (1.7) Share of affiliates' pre-tax income — — 15.8 — 15.8 Segment profit $ 60.9 $ 19.9 $ 10.7 $ 0.8 $ 92.3 Less: Selling, general and administrative expense 42.6 Income taxes (includes $3.0 related to affiliates' earnings) 12.5 Net income from continuing operations $ 37.2 Discontinued Operations, Net of Taxes Net income from discontinued operations, net of taxes $ 7.9 Gain on sale of discontinued operations, net of taxes — Total discontinued operations, net of taxes $ 7.9 Net income $ 45.1 Net Gain on Asset Dispositions Asset Remarketing Income: Net gains on disposition of owned assets $ 4.4 $ — $ — $ — $ 4.4 Residual sharing income 0.1 — 0.5 — 0.6 Non-remarketing net gains (1) (0.2) 0.3 — — 0.1 $ 4.3 $ 0.3 $ 0.5 $ — $ 5.1 Capital Expenditures Portfolio investments and capital additions $ 138.1 $ 51.8 $ — $ 0.9 $ 190.8 Selected Balance Sheet Data at December 31, 2019 Investments in affiliated companies $ 0.2 $ — $ 512.4 $ — $ 512.6 Identifiable assets from continuing operations $ 5,646.7 $ 1,486.7 $ 653.7 $ 206.9 $ 7,994.0 Identifiable assets from discontinued operations $ — $ — $ — $ — $ 291.1 __________ (1) Includes net gains (losses) from scrapping of railcars. Other GATX Consolidated Nine Months Ended September 30, 2020 Revenues Lease revenue $ 630.8 $ 181.9 $ 0.6 $ — $ 813.3 Marine operating revenue — — 11.6 — 11.6 Other revenue 72.5 6.5 0.4 — 79.4 Total Revenues 703.3 188.4 12.6 — 904.3 Expenses Maintenance expense 206.5 38.3 — — 244.8 Marine operating expense — — 10.9 — 10.9 Depreciation expense 193.0 48.4 4.0 — 245.4 Operating lease expense 38.1 — — — 38.1 Other operating expense 20.8 4.9 0.3 — 26.0 Total Expenses 458.4 91.6 15.2 — 565.2 Other Income (Expense) Net gain on asset dispositions 39.9 0.8 1.6 — 42.3 Interest (expense) income, net (103.5) (34.0) (9.1) 5.1 (141.5) Other expense (3.2) (5.7) — (3.3) (12.2) Share of affiliates' pre-tax income — — 93.2 — 93.2 Segment profit $ 178.1 $ 57.9 $ 83.1 $ 1.8 $ 320.9 Less: Selling, general and administrative expense 125.8 Income taxes (includes $33.1 related to affiliates' earnings) 62.7 Net income from continuing operations $ 132.4 Discontinued operations, net of taxes Net loss from discontinued operations, net of taxes $ (2.2) Gain on sale of discontinued operations, net of taxes 3.3 Total discontinued operations, net of taxes $ 1.1 Net income $ 133.5 Net Gain on Asset Dispositions Asset Remarketing Income: Net gains on disposition of owned assets $ 39.1 $ 0.2 $ 0.1 $ — $ 39.4 Residual sharing income 0.3 — 1.5 — 1.8 Non-remarketing net gains (1) 0.5 0.6 — — 1.1 $ 39.9 $ 0.8 $ 1.6 $ — $ 42.3 Capital Expenditures Portfolio investments and capital additions $ 474.6 $ 164.5 $ 0.3 $ 2.0 $ 641.4 __________ (1) Includes net gains (losses) from scrapping of railcars. Other GATX Consolidated Nine Months Ended September 30, 2019 Revenues Lease revenue $ 654.3 $ 161.7 $ 0.8 $ — $ 816.8 Marine operating revenue — — 4.4 — 4.4 Other revenue 73.7 6.2 0.5 — 80.4 Total Revenues 728.0 167.9 5.7 — 901.6 Expenses Maintenance expense 199.8 35.5 — — 235.3 Marine operating expense — — 12.0 — 12.0 Depreciation expense 192.6 42.7 4.9 — 240.2 Operating lease expense 41.1 — — — 41.1 Other operating expense 19.0 4.2 0.3 — 23.5 Total Expenses 452.5 82.4 17.2 — 552.1 Other Income (Expense) Net gain on asset dispositions 44.6 1.2 1.1 — 46.9 Interest (expense) income, net (101.4) (30.2) (8.3) 4.6 (135.3) Other expense (3.6) (0.5) — (1.2) (5.3) Share of affiliates' pre-tax income — — 53.6 — 53.6 Segment profit $ 215.1 $ 56.0 $ 34.9 $ 3.4 $ 309.4 Less: Selling, general and administrative expense 129.6 Income taxes (includes $10.0 related to affiliates' earnings) 41.1 Net income from continuing operations $ 138.7 Discontinued operations, net of taxes Net income from discontinued operations, net of taxes $ 15.9 Gain on sale of discontinued operations, net of taxes — Total discontinued operations, net of taxes $ 15.9 Net income $ 154.6 Net Gain on Asset Dispositions Asset Remarketing Income: Net gains on disposition of owned assets $ 40.9 $ — $ — $ — $ 40.9 Residual sharing income 0.3 — 1.1 — 1.4 Non-remarketing net gains (1) 3.4 1.2 — — 4.6 $ 44.6 $ 1.2 $ 1.1 $ — $ 46.9 Capital Expenditures Portfolio investments and capital additions $ 342.4 $ 158.6 $ — $ 2.8 $ 503.8 __________ (1) Includes net gains (losses) from scrapping of railcars.

Discontinued Operations Discont

Discontinued Operations Discontinued Operations	9 Months Ended
	Sep. 30, 2020
Discontinued Operations and Disposal Groups [Abstract]
Discontinued Operations	Discontinued Operations On May 14, 2020, we completed the sale of our ASC business for estimated proceeds of $258.3 million in cash, of which $1.1 million was held in escrow as of September 30, 2020 to satisfy potential indemnification claims for one year after the sale date. Accordingly, the results of operations from our ASC business and gain on sale of ASC are reported in the accompanying consolidated statements of operations as “discontinued operations, net of taxes” for the periods ended September 30, 2020 and 2019. The related assets and liabilities are classified as assets and liabilities of discontinued operations as of September 30, 2020 and December 31, 2019 in the accompanying balance sheets. We recognized a net gain of $3.6 million, net of taxes, during the second quarter of 2020 in connection with this sale. In the third quarter of 2020, we recognized a net loss of $0.3 million, net of taxes. The net loss on sale recognized in the current quarter was attributable to final post-closing adjustments and expenses related to the sale. Results of discontinued operations reflect directly attributable revenues, operating and ownership expenses, and income taxes. Results also reflect intercompany allocations for interest. Interest expense was zero and $2.0 million for the three and nine months ended September 30, 2020, compared to $1.6 million and $4.6 million for the same periods in 2019. Interest was allocated consistent with GATX's risk-adjusted approach for continuing operations. The following table shows the financial results of our discontinued operations (in millions): Three Months Ended Nine Months Ended 2020 2019 2020 2019 Revenues $ — $ 61.9 $ 27.2 $ 135.5 Expenses Operating expense — 44.5 22.5 96.8 Depreciation expense — 3.6 1.7 7.1 Selling, general and administrative expense — 1.8 2.8 6.0 Total Expenses — 49.9 27.0 109.9 Other expense — (1.7) (3.0) (4.9) Income (Loss) from Discontinued Operations Before Taxes $ — $ 10.3 $ (2.8) $ 20.7 Income tax (expense) benefit — (2.4) 0.6 (4.8) Income (Loss) from Discontinued Operations, Net of Taxes $ — $ 7.9 $ (2.2) $ 15.9 (Loss) Gain on Sale of Discontinued Operations, Net of Taxes (0.3) — 3.3 — Discontinued Operations, Net of Taxes $ (0.3) $ 7.9 $ 1.1 $ 15.9 The following table shows the assets and liabilities of the discontinued ASC business (in millions): September 30 December 31 2020 2019 Assets of Discontinued Operations: Rent and other receivables $ — $ 21.2 Operating assets and facilities, net — 249.9 Other — 20.0 Total Assets of Discontinued Operations $ — $ 291.1 Liabilities of Discontinued Operations: Accounts payable and accrued expenses $ — $ 29.7 Deferred income taxes — 35.8 Other — 4.0 Total Liabilities of Discontinued Operations $ — $ 69.5 The following table shows cash flow information for our discontinued operations (in millions): Nine Months Ended 2020 2019 Net Cash (Used In) Provided By Operating Activities $ (8.5) $ 18.9 Net Cash Provided By (Used In) Investing Activities (1) 240.9 (18.7) Net Cash Provided By (Used In) Financing Activities 21.8 (0.2) Cash provided by discontinued operations, net $ 254.2 $ — ________ (1) Net cash provided by investing activities for the nine months ended September 30, 2020 includes proceeds from the sale of ASC of $257.2 million.

Leases (Tables)

Leases (Tables)	9 Months Ended
	Sep. 30, 2020
Leases [Abstract]
Components of Lease Income	The following table shows the components of our lease income (in millions): Three Months Ended Nine Months Ended 2020 2019 2020 2019 Operating lease income: Fixed lease income $ 258.6 $ 253.4 $ 764.7 $ 759.1 Variable lease income 13.2 14.9 43.7 50.0 Total operating lease income $ 271.8 $ 268.3 $ 808.4 $ 809.1 Finance lease income 1.5 2.2 4.9 7.7 Total lease income $ 273.3 $ 270.5 $ 813.3 $ 816.8
Components of Lease Income	The following table shows the components of our lease income (in millions): Three Months Ended Nine Months Ended 2020 2019 2020 2019 Operating lease income: Fixed lease income $ 258.6 $ 253.4 $ 764.7 $ 759.1 Variable lease income 13.2 14.9 43.7 50.0 Total operating lease income $ 271.8 $ 268.3 $ 808.4 $ 809.1 Finance lease income 1.5 2.2 4.9 7.7 Total lease income $ 273.3 $ 270.5 $ 813.3 $ 816.8

Fair Value Disclosure (Tables)

Fair Value Disclosure (Tables)	9 Months Ended
	Sep. 30, 2020
Fair Value Disclosures [Abstract]
Assets and liabilities at fair value recurring basis	The following tables show our derivative assets and liabilities that are measured at fair value (in millions): Balance Sheet Location Fair Value Quoted Significant Observable Inputs Significant Unobservable Derivative Assets Interest rate contracts (1) Other assets $ 6.9 $ — $ 6.9 $ — Total derivative assets $ 6.9 $ — $ 6.9 $ — Derivative Liabilities Foreign exchange contracts (1) Other liabilities $ 9.0 $ — $ 9.0 $ — Foreign exchange contracts (2) Other liabilities 0.9 — 0.9 — Total derivative liabilities $ 9.9 $ — $ 9.9 $ — Balance Sheet Location Fair Value Quoted Significant Observable Inputs Significant Unobservable Derivative Assets Interest rate contracts (1) Other assets $ 1.4 $ — $ 1.4 $ — Foreign exchange contracts (1) Other assets 6.9 — 6.9 — Foreign exchange contracts (2) Other assets 0.2 — 0.2 — Total derivative assets $ 8.5 $ — $ 8.5 $ — Derivative Liabilities Interest rate contracts (1) Other liabilities $ 0.6 $ — $ 0.6 $ — Foreign exchange contracts (1) Other liabilities 7.0 — 7.0 — Foreign exchange contracts (2) Other liabilities 6.0 — 6.0 — Total derivative liabilities $ 13.6 $ — $ 13.6 $ — _________ (1) Designated as hedges. (2) Not designated as hedges.
Fair value hedging instruments	The following table shows the amounts recorded on the balance sheet related to cumulative basis adjustments for fair value hedges as of September 30, 2020 and December 31, 2019 (in millions). Carrying Amount of the Hedged Assets/(Liabilities) Cumulative Amount of Fair Value Hedging Adjustment Included in the Carrying Amount of the Hedged Assets/(Liabilities) Line Item in the Balance Sheet in Which the Hedged Item is Included September 30 December 31 September 30 December 31 Recourse debt $ (304.3) $ (449.9) $ 6.9 $ 1.4 The following tables show the impacts of our derivative instruments on our statement of comprehensive income for the three and nine months ended September 30, 2020 and 2019 (in millions): Amount of Loss (Gain) Recognized in Other Comprehensive Income Location of Loss (Gain) Reclassified from Accumulated Other Comprehensive Income into Income Amount of Loss (Gain) Reclassified from Accumulated Other Comprehensive Income into Income Three Months Ended September 30 Three Months Ended September 30 Derivative Designation 2020 2019 2020 2019 Derivatives in cash flow hedging relationships: Interest rate contracts $ — $ 1.6 Interest expense $ 0.6 $ 0.5 Foreign exchange contracts 10.5 (19.8) Other (income) expense 10.4 (19.3) Total $ 10.5 $ (18.2) Total $ 11.0 $ (18.8)
Cash flow hedging instruments	The following tables show the impact of our fair value and cash flow hedge accounting relationships, as well as the impact of our non-designated derivatives, on the statement of comprehensive income for the three and nine months ended September 30, 2020 and 2019 (in millions): Location and Amount of Gain (Loss) Recognized in Income on Fair Value and Cash Flow Hedging Relationships Three Months Ended Three Months Ended 2020 2019 Interest (expense), net Other income (expense) Interest (expense), net Other income (expense) Total amounts of income and expense presented in the statements of comprehensive income in which the effects of fair value or cash flow hedges are recorded $ (48.6) $ (1.2) $ (44.7) $ (1.7) Gain (loss) on fair value hedging relationships Interest rate contracts: Hedged items 1.3 — (1.3) — Derivatives designated as hedging instruments (1.3) — 1.3 — Gain (loss) on cash flow hedging relationships Interest rate contracts: Amount of gain (loss) reclassified from accumulated other comprehensive income into income (0.6) — (0.5) — Foreign exchange contracts: Amount of gain (loss) reclassified from accumulated other comprehensive income into income (1) — (10.4) — 19.3 Gain (loss) on non-designated derivative contracts — 2.2 — 4.0
Other financial instruments	The following table shows the carrying amounts and fair values of our other financial instruments (in millions): September 30, 2020 December 31, 2019 Carrying Fair Carrying Fair Liabilities Recourse fixed rate debt $ 4,788.3 $ 5,295.4 $ 4,389.3 $ 4,644.6 Recourse floating rate debt 422.9 419.7 417.5 419.0

Pension and Other Post-Retire_2

Pension and Other Post-Retirement Benefits (Tables)	9 Months Ended
	Sep. 30, 2020
Retirement Benefits [Abstract]
Components of pension and other post retirement benefit costs	The following table shows the components of our pension and other post-retirement net periodic cost for the three months ended September 30, 2020 and 2019 (in millions): 2020 2019 2020 2019 Service cost $ 2.0 $ 1.7 $ — $ — Interest cost 3.1 3.8 0.1 0.2 Expected return on plan assets (5.0) (5.6) — — Amortization of (1): Unrecognized prior service credit — — — — Unrecognized net actuarial loss (gain) 3.1 2.0 (0.1) — Net periodic cost $ 3.2 $ 1.9 $ — $ 0.2 The following table shows the components of our pension and other post-retirement benefits expense for the nine months ended September 30, 2020 and 2019 (in millions): 2020 2019 2020 2019 Service cost $ 6.0 $ 4.9 $ 0.1 $ 0.1 Interest cost 9.2 11.4 0.4 0.7 Expected return on plan assets (15.1) (16.6) — — Amortization of (1): Unrecognized prior service credit — — (0.1) (0.1) Unrecognized net actuarial loss (gain) 9.5 6.0 (0.3) (0.1) Net periodic cost $ 9.6 $ 5.7 $ 0.1 $ 0.6 _______ (1) Amounts reclassified from accumulated other comprehensive loss.

Commercial Commitments (Tables)

Commercial Commitments (Tables)	9 Months Ended
	Sep. 30, 2020
Guarantees [Abstract]
Commercial Commitments	The following table shows our commercial commitments (in millions): September 30 December 31 Standby letters of credit and performance bonds $ 9.3 $ 9.3 Derivative guarantees 1.5 — Total commercial commitments (1) $ 10.8 $ 9.3 _______ (1) There were no liabilities recorded on the balance sheet for commercial commitments at September 30, 2020 and December 31, 2019. As of September 30, 2020, our outstanding commitments expire in 2020 through 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, 2020
Earnings Per Share [Abstract]
Computation of basic and diluted net income per common share	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 2020 2019 2020 2019 Numerator: Net income from continuing operations $ 48.2 $ 37.2 $ 132.4 $ 138.7 Net (loss) income from discontinued operations (0.3) 7.9 1.1 15.9 Net income $ 47.9 $ 45.1 $ 133.5 $ 154.6 Denominator: Weighted-average shares outstanding - basic 35.0 35.4 34.9 35.9 Effect of dilutive securities: Equity compensation plans 0.4 0.6 0.5 0.7 Weighted-average shares outstanding - diluted 35.4 36.0 35.4 36.6 Basic earnings per share from continuing operations $ 1.38 $ 1.05 $ 3.79 $ 3.86 Basic earnings per share from discontinued operations (0.01) 0.23 0.03 0.44 Basic earnings per share from consolidated operations $ 1.37 $ 1.28 $ 3.82 $ 4.30 Diluted earnings per share from continuing operations $ 1.36 $ 1.03 $ 3.74 $ 3.79 Diluted earnings per share from discontinued operations (0.01) 0.22 0.03 0.43 Diluted earnings per share from consolidated operations $ 1.35 $ 1.25 $ 3.77 $ 4.22

Discontinued Operations (Tables

Discontinued Operations (Tables)	9 Months Ended
	Sep. 30, 2020
Discontinued Operations and Disposal Groups [Abstract]
Disposal Groups, Including Discontinued Operations	The following table shows the financial results of our discontinued operations (in millions): Three Months Ended Nine Months Ended 2020 2019 2020 2019 Revenues $ — $ 61.9 $ 27.2 $ 135.5 Expenses Operating expense — 44.5 22.5 96.8 Depreciation expense — 3.6 1.7 7.1 Selling, general and administrative expense — 1.8 2.8 6.0 Total Expenses — 49.9 27.0 109.9 Other expense — (1.7) (3.0) (4.9) Income (Loss) from Discontinued Operations Before Taxes $ — $ 10.3 $ (2.8) $ 20.7 Income tax (expense) benefit — (2.4) 0.6 (4.8) Income (Loss) from Discontinued Operations, Net of Taxes $ — $ 7.9 $ (2.2) $ 15.9 (Loss) Gain on Sale of Discontinued Operations, Net of Taxes (0.3) — 3.3 — Discontinued Operations, Net of Taxes $ (0.3) $ 7.9 $ 1.1 $ 15.9 The following table shows the assets and liabilities of the discontinued ASC business (in millions): September 30 December 31 2020 2019 Assets of Discontinued Operations: Rent and other receivables $ — $ 21.2 Operating assets and facilities, net — 249.9 Other — 20.0 Total Assets of Discontinued Operations $ — $ 291.1 Liabilities of Discontinued Operations: Accounts payable and accrued expenses $ — $ 29.7 Deferred income taxes — 35.8 Other — 4.0 Total Liabilities of Discontinued Operations $ — $ 69.5 The following table shows cash flow information for our discontinued operations (in millions): Nine Months Ended 2020 2019 Net Cash (Used In) Provided By Operating Activities $ (8.5) $ 18.9 Net Cash Provided By (Used In) Investing Activities (1) 240.9 (18.7) Net Cash Provided By (Used In) Financing Activities 21.8 (0.2) Cash provided by discontinued operations, net $ 254.2 $ —

Description of Business (Detail

Description of Business (Details)	9 Months Ended
	Sep. 30, 2020Segment
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Number of business segments	3

Basis of Presentation Pension a

Basis of Presentation Pension and Post-Retirement Benefits (Details) - USD ($) $ in Millions	Sep. 30, 2020	Dec. 31, 2019
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Right of use assets	$ 364.3	$ 420.6
Lease liability	$ 368	$ 437.3

Leases - Components of Lease In

Leases - Components of Lease Income (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Operating lease income:
Variable lease income	$ 258.6	$ 253.4	$ 764.7	$ 759.1
Operating Lease, Variable Lease Income	13.2	14.9	43.7	50
Operating Lease, Lease Income	271.8	268.3	808.4	809.1
Finance lease income	1.5	2.2	4.9	7.7
Total lease income	273.3	270.5	813.3	816.8
Total operating lease income	$ 22.7	$ 22.3	$ 69.1	$ 66.6

Leases - Maturities of Lease Li

Leases - Maturities of Lease Liabilities (Details) - USD ($) $ in Millions	Sep. 30, 2020	Dec. 31, 2019
Operating Leases
Total discounted lease liabilities	$ 368	$ 429.4
Finance Leases
Total discounted lease liabilities	0	7.9
Total
Total discounted lease liabilities	$ 368	$ 437.3

Investments in Affiliated Com_2

Investments in Affiliated Companies (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Alpha Partners Leasing Limited [Domain]
Equity Method Investment, Summarized Financial Information. Revenue.	$ 112.5	$ 94	$ 318.5	$ 283.5
Equity Method Investment, Summarized Financial Information, Other Expenses	(95.9)	(75.1)	(271)	(227.7)
Equity Method Investment, Summarized Financial Information, Gains (Losses)	10	6.8	48.2	33.1
RRPF Joint Ventures [Member]
Equity Method Investment, Summarized Financial Information, Net Income (Loss)	$ 21.7	$ 20.8	$ 77.6	$ 72

Fair Value Disclosure - Narrati

Fair Value Disclosure - Narrative (Details) $ in Millions	9 Months Ended
	Sep. 30, 2020USD ($)Instrument	Dec. 31, 2019USD ($)Instrument
Derivative [Line Items]
Gain (loss) on cash flow hedges expected to be reclassified within next twelve months	$ 2.1
Gain (loss) on cash flow hedges expected to be reclassified within next twelve months, net of tax	$ 1.6
Designated as Hedging Instrument [Member] | Fair Value Hedging [Member] | Interest Rate Contract [Member]
Derivative [Line Items]
Number of derivative instruments | Instrument	5	8
Derivative, Notional Amount	$ 300	$ 450
Designated as Hedging Instrument [Member] | Cash Flow Hedging [Member] | Interest Rate Contract [Member]
Derivative [Line Items]
Number of derivative instruments | Instrument	6	7
Derivative, Notional Amount	$ 136.1	$ 336.5
Not Designated as Hedging Instrument [Member] | Interest Rate Contract [Member]
Derivative [Line Items]
Derivative liability	$ 9

Fair Value Disclosure Fair Valu

Fair Value Disclosure Fair Value Disclosure - Assets and Liabilities Measured on a Recurring Basis (Details) - USD ($) $ in Millions	Sep. 30, 2020	Dec. 31, 2019
Fair Value, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative asset	$ 6.9	$ 8.5
Derivative liability	9.9	13.6
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative asset	0	0
Derivative liability	0	0
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative asset	6.9	8.5
Derivative liability	9.9	13.6
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative asset	0	0
Derivative liability	0	0
Designated as Hedging Instrument [Member] | Foreign Exchange Contract [Member] | Fair Value, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative asset		6.9
Derivative liability	9	7
Designated as Hedging Instrument [Member] | Foreign Exchange Contract [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative asset		0
Derivative liability	0	0
Designated as Hedging Instrument [Member] | Foreign Exchange Contract [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative asset		6.9
Derivative liability	9	7
Designated as Hedging Instrument [Member] | Foreign Exchange Contract [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative asset		0
Derivative liability	0	0
Designated as Hedging Instrument [Member] | Interest Rate Contract [Member] | Fair Value, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative asset	6.9	1.4
Derivative liability		0.6
Designated as Hedging Instrument [Member] | Interest Rate Contract [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative asset	0	0
Derivative liability		0
Designated as Hedging Instrument [Member] | Interest Rate Contract [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative asset	6.9	1.4
Derivative liability		0.6
Designated as Hedging Instrument [Member] | Interest Rate Contract [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative asset	0	0
Derivative liability		0
Not Designated as Hedging Instrument [Member] | Foreign Exchange Contract [Member] | Fair Value, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative asset		0.2
Derivative liability	0.9	6
Not Designated as Hedging Instrument [Member] | Foreign Exchange Contract [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative asset		0
Derivative liability	0	0
Not Designated as Hedging Instrument [Member] | Foreign Exchange Contract [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative asset		0.2
Derivative liability	0.9	6
Not Designated as Hedging Instrument [Member] | Foreign Exchange Contract [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative asset		0
Derivative liability	0	$ 0
Not Designated as Hedging Instrument [Member] | Interest Rate Contract [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative liability	$ 9

Fair Value Disclosure Fair Va_2

Fair Value Disclosure Fair Value Disclosure - Amounts Recorded on Balance Sheet Related to Cumulative Basis Adjustments (Details) - Recourse Debt [Member] - USD ($) $ in Millions	Sep. 30, 2020	Dec. 31, 2019
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Hedged Liability, Fair Value Hedge	$ (304.3)	$ (449.9)
Hedged Liability, Fair Value Hedge, Cumulative Increase (Decrease)	$ 6.9	$ 1.4

Fair Value Disclosure Fair Va_3

Fair Value Disclosure Fair Value Disclosure - Impacts of Derivative Instrument on Statement of Comprehensive Income (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Interest Expense	$ (48.6)	$ (44.7)	$ (141.5)	$ (135.3)
Amount of Loss (Gain) Reclassified from Accumulated Other Comprehensive Income into Income	11	(18.8)	10.9	(22.4)
Other Nonoperating Income (Expense)	(1.2)	(1.7)	(12.2)	(5.3)
Cash Flow Hedging [Member]
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Amount of Loss (Gain) Recognized in Other Comprehensive Income	10.5	(18.2)	14.7	(26.9)
Cash Flow Hedging [Member] | Interest Rate Contract [Member]
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Amount of Loss (Gain) Recognized in Other Comprehensive Income	0	1.6	(0.5)	1.6
Cash Flow Hedging [Member] | Foreign Exchange Contract [Member]
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Amount of Loss (Gain) Recognized in Other Comprehensive Income	10.5	(19.8)	15.2	(28.5)
Interest Expense [Member]
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Amount of Loss (Gain) Reclassified from Accumulated Other Comprehensive Income into Income	0.6	0.5	1.4	2
Gain (loss) on non-designated derivative contracts	0	0	0	0
Interest Expense [Member] | Interest Rate Contract [Member]
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Hedged items	1.3	(1.3)	(5.4)	(9.8)
Derivatives designated as hedging instruments	(1.3)	1.3	5.4	9.8
Interest Expense [Member] | Cash Flow Hedging [Member] | Interest Rate Contract [Member]
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Amount of gain (loss) reclassified from accumulated other comprehensive income into income	(0.6)	(0.5)	(1.4)	(2)
Interest Expense [Member] | Cash Flow Hedging [Member] | Foreign Exchange Contract [Member]
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Amount of gain (loss) reclassified from accumulated other comprehensive income into income	0	0	0	0
Other (Income) Expense [Member]
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Amount of Loss (Gain) Reclassified from Accumulated Other Comprehensive Income into Income	10.4	(19.3)	9.5	(24.4)
Gain (loss) on non-designated derivative contracts	2.2	4	4.6	1.3
Other (Income) Expense [Member] | Interest Rate Contract [Member]
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Hedged items	0	0	0	0
Derivatives designated as hedging instruments	0	0	0	0
Other (Income) Expense [Member] | Cash Flow Hedging [Member] | Interest Rate Contract [Member]
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Amount of gain (loss) reclassified from accumulated other comprehensive income into income	0	0	0	0
Other (Income) Expense [Member] | Cash Flow Hedging [Member] | Foreign Exchange Contract [Member]
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Amount of gain (loss) reclassified from accumulated other comprehensive income into income	$ (10.4)	$ 19.3	$ (9.5)	$ 24.4

Fair Value Disclosure Fair Va_4

Fair Value Disclosure Fair Value Disclosure - Impact of Cash Flow and Hedge Accounting Relationships (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Amount of Loss (Gain) Reclassified from Accumulated Other Comprehensive Income into Income	$ 11	$ (18.8)	$ 10.9	$ (22.4)
Interest expense, net	(48.6)	(44.7)	(141.5)	(135.3)
Other (expense) income	(1.2)	(1.7)	(12.2)	(5.3)
Cash Flow Hedging [Member]
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Amount of Loss (Gain) Recognized in Other Comprehensive Income	10.5	(18.2)	14.7	(26.9)
Interest Rate Contract [Member] | Cash Flow Hedging [Member]
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Amount of Loss (Gain) Recognized in Other Comprehensive Income	0	1.6	(0.5)	1.6
Foreign Exchange Contract [Member] | Cash Flow Hedging [Member]
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Amount of Loss (Gain) Recognized in Other Comprehensive Income	10.5	(19.8)	15.2	(28.5)
Interest Expense [Member]
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Amount of Loss (Gain) Reclassified from Accumulated Other Comprehensive Income into Income	0.6	0.5	1.4	2
Gain (loss) on fair value hedging relationships
Gain (loss) on non-designated derivative contracts	0	0	0	0
Interest Expense [Member] | Interest Rate Contract [Member]
Gain (loss) on fair value hedging relationships
Hedged items	1.3	(1.3)	(5.4)	(9.8)
Derivatives designated as hedging instruments	(1.3)	1.3	5.4	9.8
Interest Expense [Member] | Interest Rate Contract [Member] | Cash Flow Hedging [Member]
Gain (loss) on fair value hedging relationships
Amount of gain (loss) reclassified from accumulated other comprehensive income into income	(0.6)	(0.5)	(1.4)	(2)
Interest Expense [Member] | Foreign Exchange Contract [Member] | Cash Flow Hedging [Member]
Gain (loss) on fair value hedging relationships
Amount of gain (loss) reclassified from accumulated other comprehensive income into income	0	0	0	0
Other (Income) Expense [Member]
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Amount of Loss (Gain) Reclassified from Accumulated Other Comprehensive Income into Income	10.4	(19.3)	9.5	(24.4)
Gain (loss) on fair value hedging relationships
Gain (loss) on non-designated derivative contracts	2.2	4	4.6	1.3
Other (Income) Expense [Member] | Interest Rate Contract [Member]
Gain (loss) on fair value hedging relationships
Hedged items	0	0	0	0
Derivatives designated as hedging instruments	0	0	0	0
Other (Income) Expense [Member] | Interest Rate Contract [Member] | Cash Flow Hedging [Member]
Gain (loss) on fair value hedging relationships
Amount of gain (loss) reclassified from accumulated other comprehensive income into income	0	0	0	0
Other (Income) Expense [Member] | Foreign Exchange Contract [Member] | Cash Flow Hedging [Member]
Gain (loss) on fair value hedging relationships
Amount of gain (loss) reclassified from accumulated other comprehensive income into income	$ (10.4)	$ 19.3	$ (9.5)	$ 24.4

Fair Value Disclosure Fair Va_5

Fair Value Disclosure Fair Value Disclosure - Other Financial Instruments (Details) - USD ($) $ in Millions	Sep. 30, 2020	Dec. 31, 2019
Reported Value Measurement [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Recourse Fixed Rate Debt Fair Value Disclosure	$ 4,788.3	$ 4,389.3
Recourse Floating Rate Debt Fair Value Disclosure	422.9	417.5
Estimate of Fair Value Measurement [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Recourse Fixed Rate Debt Fair Value Disclosure	5,295.4	4,644.6
Recourse Floating Rate Debt Fair Value Disclosure	$ 419.7	$ 419

Pension and Other Post Retireme

Pension and Other Post Retirement Benefits - Narrative (Details) - USD ($) $ in Millions	3 Months Ended				9 Months Ended
	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Defined Benefit Plan Disclosure [Line Items]
Other Comprehensive Income (Loss), Defined Benefit Plan, Gain (Loss), Reclassification Adjustment from AOCI, before Tax	$ 3	$ 3	$ 3.1
Defined Benefit Pension [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Service Cost	$ 2			$ 1.7	$ 6	$ 4.9

Pension and Other Post-Retire_3

Pension and Other Post-Retirement Benefits - Pension Obligations, Plan Assets, and Other Post-retirement Obligations (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019
Accumulative other comprehensive loss:
After-tax amount recognized in accumulated other comprehensive loss	$ 77.4		$ 77.4		$ 79.7	$ 83.2	$ 85.4
Defined Benefit Pension [Member]
Change in Benefit Obligation
Service cost	2	$ 1.7	6	$ 4.9
Interest cost	3.1	3.8	9.2	11.4
Accumulative other comprehensive loss:
Defined Benefit Plan, Expected Return (Loss) on Plan Assets	(5)	(5.6)	(15.1)	(16.6)
Defined Benefit Plan, Amortization of Gain (Loss)	3.1	2	9.5	6
Retiree Health and Life [Member]
Change in Benefit Obligation
Service cost	0	0	0.1	0.1
Interest cost	0.1	0.2	0.4	0.7
Accumulative other comprehensive loss:
Defined Benefit Plan, Expected Return (Loss) on Plan Assets	0	0	0	0
Defined Benefit Plan, Amortization of Gain (Loss)	$ (0.1)	$ 0	$ (0.3)	$ (0.1)

Pension and Other Post-Retire_4

Pension and Other Post-Retirement Benefits - Components of Net Periodic Cost (Benefit) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Defined Benefit Pension [Member]
Components of pension and other post retirement benefit costs
Service cost	$ 2	$ 1.7	$ 6	$ 4.9
Interest cost	3.1	3.8	9.2	11.4
Expected return on plan assets	(5)	(5.6)	(15.1)	(16.6)
Defined Benefit Plan, Net Periodic Benefit Cost (Credit)	3.2	1.9	9.6	5.7
Defined Benefit Plan, Amortization of Prior Service Cost (Credit)	0		0
Defined Benefit Plan, Amortization of Gain (Loss)	3.1	2	9.5	6
Retiree Health and Life [Member]
Components of pension and other post retirement benefit costs
Service cost	0	0	0.1	0.1
Interest cost	0.1	0.2	0.4	0.7
Expected return on plan assets	0	0	0	0
Defined Benefit Plan, Net Periodic Benefit Cost (Credit)	0	0.2	0.1	0.6
Defined Benefit Plan, Amortization of Prior Service Cost (Credit)	0	0	(0.1)	(0.1)
Defined Benefit Plan, Amortization of Gain (Loss)	(0.1)	0	(0.3)	(0.1)
RRPF Joint Ventures [Member]
Components of pension and other post retirement benefit costs
Equity Method Investment. Summarized Financial Data. Net Income	21.7	20.8	77.6	72
Alpha Partners Leasing Limited [Domain]
Defined Benefit Plan Disclosure [Line Items]
Equity Method Investment, Summarized Financial Information. Revenue.	112.5	94	318.5	283.5
Components of pension and other post retirement benefit costs
Equity Method Investment, Summarized Financial Information, Expenses	(95.9)	(75.1)	(271)	(227.7)
Equity Method Investment, Summarized Financial Information, Gains (Losses)	$ 10	$ 6.8	$ 48.2	$ 33.1

Share Based Compensation - Weig

Share Based Compensation - Weighted Average and Assumptions (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Share-based Payment Arrangement [Abstract]
Share-based compensation expense	$ 3.9	$ 4.1	$ 9.8	$ 13.7
Tax benefit from share-based compensation expense	$ 1	$ 1	$ 2.5	$ 3.4
Weighted average estimated fair value	$ 22.50		$ 22.50
Quarterly dividend rate			$ 0.48
Expected term of stock options and stock appreciation rights, in years			4 years 2 months 12 days
Risk-free interest rate			1.30%
Dividend yield			2.50%
Expected stock price volatility			28.50%
Present value of dividends			$ 7.89

Share Based Compensation (Detai

Share Based Compensation (Details Textual) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross			288,000
Share-based compensation expense	$ 3.9	$ 4.1	$ 9.8	$ 13.7
Tax benefit from share-based compensation expense	$ 1	$ 1	2.5	3.4
Payments for Repurchase of Common Stock			$ 0	$ 129
Restricted Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period			34,950
Performance Shares [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period			54,270
Phantom Stock Units [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period			20,361

Income Taxes (Details Textual)

Income Taxes (Details Textual)	9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019
Income Tax Disclosure [Abstract]
Effective Income Tax Rate Reconciliation, Percent	29.10%	24.70%
Effective Income Tax Rate Reconciliation, Amount [Abstract]
Effective Income Tax Rate Reconciliation, Disposition of Business, Percent	93.00%	23.10%

Commercial Commitments (Details

Commercial Commitments (Details) - USD ($) $ in Millions	Sep. 30, 2020	Dec. 31, 2019
Guarantor Obligations [Line Items]
Total commercial commitments	$ 10.8	$ 9.3
Standby letters of credit [Member]
Guarantor Obligations [Line Items]
Total commercial commitments	9.3	$ 9.3
RRPF Joint Ventures [Member] | Derivative [Member]
Guarantor Obligations [Line Items]
Total commercial commitments	$ 1.5

Earnings Per Share (Details)

Earnings Per Share (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Numerator:
Net income from continuing operations	$ 48.2	$ 37.2	$ 132.4	$ 138.7
Net (loss) income from discontinued operations	(0.3)	7.9	1.1	15.9
Net income	$ 47.9	$ 45.1	$ 133.5	$ 154.6
Denominator:
Denominator for basic earnings per share — weighted average shares	35	35.4	34.9	35.9
Effect of dilutive securities:
Equity compensation plans	0.4	0.6	0.5	0.7
Weighted-average shares outstanding - diluted	35.4	36	35.4	36.6
Basic earnings per share from continuing operations (in dollars per share)	$ 1.38	$ 1.05	$ 3.79	$ 3.86
Basic earnings per share from discontinued operations (in dollars per share)	(0.01)	0.23	0.03	0.44
Basic earnings per share from consolidated operations (in dollars per share)	1.37	1.28	3.82	4.30
Diluted earnings per share from continuing operations (in dollars per share)	1.36	1.03	3.74	3.79
Diluted earnings per share from discontinued operations (in dollars per share)	(0.01)	0.22	0.03	0.43
Diluted earnings per share from discontinued operations (in dollars per share)	$ 1.35	$ 1.25	$ 3.77	$ 4.22

Legal Proceedings and Other C_2

Legal Proceedings and Other Contingencies Legal Proceedings and Other Contingencies (Details) € in Millions	3 Months Ended
	Jun. 30, 2017EUR (€)
Viareggio [Member]
Legal Proceedings and Other Contingencies [Line Items]
Liability for Unpaid Claims and Claims Adjustment Expense, Incurred Claims	€ 1.4

Financial Data of Business Se_2

Financial Data of Business Segments (Details) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2020USD ($)AircraftEngines	Sep. 30, 2019USD ($)	Sep. 30, 2020USD ($)AircraftEnginesSegment	Sep. 30, 2019USD ($)	Dec. 31, 2019USD ($)
Segment Reporting Information [Line Items]
Provision for Income Taxes, Equity Method Investment	$ 24	$ 3	$ 33.1	$ 10
Number of business segments | Segment			3
Profitability
Lease revenue	273.3	270.5	$ 813.3	816.8
Other revenue	26.1	26.4	79.4	80.4
Total Revenues	304.4	298.8	904.3	901.6
Maintenance expense	76.7	76.2	244.8	235.3
Marine operating expense	3.6	3.4	10.9	12
Depreciation	83.4	80	245.4	240.2
Operating lease expense	12.3	13.7	38.1	41.1
Other operating expense	8.3	7.7	26	23.5
Total Expenses	184.3	181	565.2	552.1
Net gain on asset dispositions	8.9	5.1	42.3	46.9
Interest expense, net	(48.6)	(44.7)	(141.5)	(135.3)
Other (expense) income	(1.2)	(1.7)	(12.2)	(5.3)
Share of affiliates' earnings (pre-tax)	46.8	15.8	93.2	53.6
Segment profit (loss)	126	92.3	320.9	309.4
SG&A	42	42.6	125.8	129.6
Income tax benefit	11.8	9.5	29.6	31.1
Net Income	48.2	37.2	132.4	138.7
Net income (loss) from discontinued operations, net of taxes	0	7.9	(2.2)	15.9
(Loss) gain on sale of discontinued operations, net of taxes	(0.3)	0	3.3	0
Income (Loss) from Discontinued Operations, Net of Tax, Including Portion Attributable to Noncontrolling Interest	(0.3)	7.9	1.1	15.9
Net income	47.9	45.1	133.5	154.6
Disposition Gains on Owned Assets	8	4.4	39.4	40.9
Nonoperating Income, Residual Sharing Income	0.6	0.6	1.8	1.4
Nonremarketing Disposition Gain (Loss)	0.3	0.1	1.1	4.6
Selected Balance Sheet Data
Investments in affiliated companies	582.5		582.5		$ 512.6
Identifiable assets from continuing operations	8,690.3		8,690.3		7,994
Identifiable assets from discontinued operations	0		0		291.1
Capital Expenditures
Portfolio investments and capital additions	(249.9)	(190.8)	(641.4)	(503.8)
Marine operating revenue	5	1.9	11.6	4.4
Rail North America [Member]
Profitability
Lease revenue	208.7	214.6	630.8	654.3
Other revenue	23.4	23.9	72.5	73.7
Total Revenues	232.1	238.5	703.3	728
Maintenance expense	63.2	64	206.5	199.8
Marine operating expense	0	0	0	0
Depreciation	65	63.9	193	192.6
Operating lease expense	12.3	13.7	38.1	41.1
Other operating expense	6.6	6.2	20.8	19
Total Expenses	147.1	147.8	458.4	452.5
Net gain on asset dispositions	7.9	4.3	39.9	44.6
Interest expense, net	(35.7)	(33.1)	(103.5)	(101.4)
Other (expense) income	(1.1)	(1)	(3.2)	(3.6)
Share of affiliates' earnings (pre-tax)	0	0	0	0
Segment profit (loss)	56.1	60.9	178.1	215.1
Disposition Gains on Owned Assets	7.8	4.4	39.1	40.9
Nonoperating Income, Residual Sharing Income	0.1	0.1	0.3	0.3
Nonremarketing Disposition Gain (Loss)	0	(0.2)	0.5	3.4
Selected Balance Sheet Data
Investments in affiliated companies	0.2		0.2		0.2
Identifiable assets from continuing operations	5,838.9		5,838.9		5,646.7
Identifiable assets from discontinued operations					0
Capital Expenditures
Portfolio investments and capital additions	(204.1)	(138.1)	(474.6)	(342.4)
Marine operating revenue	0	0	0	0
Rail International [Member]
Profitability
Lease revenue	64.5	55.6	181.9	161.7
Other revenue	2.6	2.4	6.5	6.2
Total Revenues	67.1	58	188.4	167.9
Maintenance expense	13.5	12.2	38.3	35.5
Marine operating expense	0	0	0	0
Depreciation	17.1	14.5	48.4	42.7
Operating lease expense	0	0	0	0
Other operating expense	1.6	1.4	4.9	4.2
Total Expenses	32.2	28.1	91.6	82.4
Net gain on asset dispositions	0.5	0.3	0.8	1.2
Interest expense, net	(11.9)	(10.2)	(34)	(30.2)
Other (expense) income	0.5	(0.1)	(5.7)	(0.5)
Share of affiliates' earnings (pre-tax)	0	0	0	0
Segment profit (loss)	24	19.9	57.9	56
Disposition Gains on Owned Assets	0.2	0	0.2	0
Nonoperating Income, Residual Sharing Income	0	0	0	0
Nonremarketing Disposition Gain (Loss)	0.3	0.3	0.6	1.2
Selected Balance Sheet Data
Investments in affiliated companies	0		0		0
Identifiable assets from continuing operations	1,654.3		1,654.3		1,486.7
Identifiable assets from discontinued operations					0
Capital Expenditures
Portfolio investments and capital additions	(45.3)	(51.8)	(164.5)	(158.6)
Marine operating revenue	0	0	0	0
Portfolio Management [Member]
Profitability
Lease revenue	0.1	0.3	0.6	0.8
Other revenue	0.1	0.1	0.4	0.5
Total Revenues	5.2	2.3	12.6	5.7
Maintenance expense	0	0	0	0
Marine operating expense	3.6	3.4	10.9	12
Depreciation	1.3	1.6	4	4.9
Operating lease expense	0	0	0	0
Other operating expense	0.1	0.1	0.3	0.3
Total Expenses	5	5.1	15.2	17.2
Net gain on asset dispositions	0.5	0.5	1.6	1.1
Interest expense, net	(3.2)	(2.8)	(9.1)	(8.3)
Other (expense) income	0	0	0	0
Share of affiliates' earnings (pre-tax)	46.8	15.8	93.2	53.6
Segment profit (loss)	44.3	10.7	83.1	34.9
Disposition Gains on Owned Assets	0	0	0.1	0
Nonoperating Income, Residual Sharing Income	0.5	0.5	1.5	1.1
Nonremarketing Disposition Gain (Loss)	0	0	0	0
Selected Balance Sheet Data
Investments in affiliated companies	582.3		582.3		512.4
Identifiable assets from continuing operations	709.7		709.7		653.7
Identifiable assets from discontinued operations					0
Capital Expenditures
Portfolio investments and capital additions	0	0	(0.3)	0
Marine operating revenue	$ 5	1.9	$ 11.6	4.4
Number of Specialized Gas Vessels | AircraftEngines	5		5
Other [Member]
Profitability
Lease revenue	$ 0	0	$ 0	0
Other revenue	0	0	0	0
Total Revenues	0	0	0	0
Maintenance expense	0	0	0	0
Marine operating expense	0	0	0	0
Depreciation	0	0	0	0
Operating lease expense	0	0	0	0
Other operating expense	0	0	0	0
Total Expenses	0	0	0	0
Net gain on asset dispositions	0	0	0	0
Interest expense, net	2.2	1.4	5.1	4.6
Other (expense) income	(0.6)	(0.6)	(3.3)	(1.2)
Share of affiliates' earnings (pre-tax)	0	0	0	0
Segment profit (loss)	1.6	0.8	1.8	3.4
Disposition Gains on Owned Assets	0	0	0	0
Nonoperating Income, Residual Sharing Income	0	0	0	0
Nonremarketing Disposition Gain (Loss)	0	0	0	0
Selected Balance Sheet Data
Investments in affiliated companies	0		0		0
Identifiable assets from continuing operations	487.4		487.4		206.9
Identifiable assets from discontinued operations					$ 0
Capital Expenditures
Portfolio investments and capital additions	(0.5)	(0.9)	(2)	(2.8)
Marine operating revenue	0	0	0	0
Parent [Member]
Profitability
Income tax benefit	$ 35.8	$ 12.5	$ 62.7	$ 41.1

Discontinued Operations - Narra

Discontinued Operations - Narrative (Details) - USD ($)	3 Months Ended			9 Months Ended
	Sep. 30, 2020	Jun. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019	May 14, 2020
Segment Reporting Information [Line Items]
(Loss) gain on sale of discontinued operations, net of taxes	$ (300,000)		$ 0	$ 3,300,000	$ 0
Discontinued Operations, Disposed of by Sale [Member] | ASC [Member]
Segment Reporting Information [Line Items]
Cash consideration						$ 258,300,000
Amount held in escrow	1,100,000			1,100,000
(Loss) gain on sale of discontinued operations, net of taxes	(300,000)	$ 3,600,000	0	3,300,000	0
Interest expense	$ 0		$ 1,600,000	$ 2,000,000	$ 4,600,000

Discontinued Operations - Finan

Discontinued Operations - Financial Results (Details) - USD ($) $ in Millions	3 Months Ended			9 Months Ended
	Sep. 30, 2020	Jun. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Income (Loss) from Discontinued Operations, Net of Taxes	$ 0		$ 7.9	$ (2.2)	$ 15.9
(Loss) Gain on Sale of Discontinued Operations, Net of Taxes	(0.3)		0	3.3	0
Discontinued Operations, Net of Taxes	(0.3)		7.9	1.1	15.9
ASC [Member] | Discontinued Operations, Disposed of by Sale [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Revenues	0		61.9	27.2	135.5
Operating expense	0		44.5	22.5	96.8
Depreciation expense	0		3.6	1.7	7.1
Selling, general and administrative expense	0		1.8	2.8	6
Total Expenses	0		49.9	27	109.9
Other expense	0		(1.7)	(3)	(4.9)
Income (Loss) from Discontinued Operations Before Taxes	0		10.3	(2.8)	20.7
Income tax (expense) benefit	0		(2.4)	0.6	(4.8)
Income (Loss) from Discontinued Operations, Net of Taxes	0		7.9	(2.2)	15.9
(Loss) Gain on Sale of Discontinued Operations, Net of Taxes	(0.3)	$ 3.6	0	3.3	0
Discontinued Operations, Net of Taxes	$ (0.3)		$ 7.9	$ 1.1	$ 15.9

Discontinued Operations - Asset

Discontinued Operations - Assets and Liabilities (Details) - USD ($) $ in Millions	Sep. 30, 2020	Dec. 31, 2019
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Total Assets of Discontinued Operations	$ 0	$ 291.1
Total Liabilities of Discontinued Operations	0	69.5
ASC [Member] | Discontinued Operations, Disposed of by Sale [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Rent and other receivables	0	21.2
Operating assets and facilities, net	0	249.9
Other	0	20
Total Assets of Discontinued Operations	0	291.1
Accounts payable and accrued expenses	0	29.7
Deferred income taxes	0	35.8
Other	0	4
Total Liabilities of Discontinued Operations	$ 0	$ 69.5

Discontinued Operations - Opera

Discontinued Operations - Operating and Investing Cash Flow (Details) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Proceeds from the sale of ASC	$ 257.2
Net Cash (Used In) Provided By Operating Activities	(8.5)	$ 18.9
Net Cash Provided By (Used In) Investing Activities (1)	240.9	(18.7)
Cash Provided by (Used in) Financing Activities, Discontinued Operations	21.8	(0.2)
Net Cash Provided by (Used in) Discontinued Operations	$ 254.2	$ 0