Financial Statements for Guarantors of the Senior Notes (Details 2) (USD $) | 3 Months Ended |
In Millions, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 |
Operating activities: | | | |
Net income | $189 | | $233 |
Equity in earnings of subsidiaries, net of taxes | 0 | | 0 |
Other | -79.6 | | -27.7 |
Net cash provided (required) by operating activities | 109.4 | | 205.3 |
Investing activities: | | | |
(Increase) decrease in short-term marketable securities | -25 | | -106.7 |
Proceeds from railcar lease fleet sales | 78.5 | | 224.3 |
Proceeds from disposition of property, plant, equipment, and other assets | 1.6 | | 17.2 |
Capital expenditures – leasing | -283.4 | | 0.4 |
Capital expenditures – manufacturing and other | -53.5 | | -49.1 |
Acquisitions, net of cash acquired | -45.5 | | -112.6 |
(Increase) decrease in investment in partially-owned subsidiaries | 0 | | 0 |
Other | 4.2 | | 2.9 |
Net cash provided (required) by investing activities | -323.1 | | -23.6 |
Financing activities: | | | |
Proceeds from issuance of common stock, net | 0 | | 0.3 |
Excess tax benefits from stock-based compensation | 0.4 | | 0.4 |
Payments to retire debt | -70.9 | | -53.1 |
(Increase) decrease in restricted cash | 33 | | 4.3 |
Shares repurchased | -18 | | -12.5 |
Dividends paid to common shareholders | -15.6 | | -11.6 |
Purchase of shares to satisfy employee tax on vested stock | -0.4 | | -0.1 |
Distributions to noncontrolling interest | -11.3 | | -5.4 |
Distributions to controlling interest in partially-owned subsidiaries | 0 | | 0 |
Change in intercompany financing between entities | 0 | | 0 |
Other | -0.7 | | -0.3 |
Net cash provided (required) by financing activities | -83.5 | | -78 |
Net increase (decrease) in cash and cash equivalents | -297.2 | | 103.7 |
Cash and cash equivalents at beginning of period | 887.9 | | 428.5 |
Cash and cash equivalents at end of period | 590.7 | [1] | 532.2 |
Parent | | | |
Operating activities: | | | |
Net income | 180.2 | | 226.4 |
Equity in earnings of subsidiaries, net of taxes | -196.8 | | -252.4 |
Other | 81.8 | | 86 |
Net cash provided (required) by operating activities | 65.2 | | 60 |
Investing activities: | | | |
(Increase) decrease in short-term marketable securities | -25 | | -106.7 |
Proceeds from railcar lease fleet sales | 0 | | 0 |
Proceeds from disposition of property, plant, equipment, and other assets | 0 | | 0.4 |
Capital expenditures – leasing | 0 | | 0 |
Capital expenditures – manufacturing and other | -1.8 | | -3.3 |
Acquisitions, net of cash acquired | 0 | | 0 |
(Increase) decrease in investment in partially-owned subsidiaries | 0 | | 0 |
Other | 0 | | 1 |
Net cash provided (required) by investing activities | -26.8 | | -108.6 |
Financing activities: | | | |
Proceeds from issuance of common stock, net | 0 | | 0.3 |
Excess tax benefits from stock-based compensation | 0.4 | | 0.4 |
Payments to retire debt | 0 | | 0 |
(Increase) decrease in restricted cash | 0 | | 0 |
Shares repurchased | -18 | | -12.5 |
Dividends paid to common shareholders | -15.6 | | -11.6 |
Purchase of shares to satisfy employee tax on vested stock | -0.4 | | -0.1 |
Distributions to noncontrolling interest | 0 | | 0 |
Distributions to controlling interest in partially-owned subsidiaries | | | 0 |
Change in intercompany financing between entities | -284 | | 173.4 |
Other | 0 | | 0 |
Net cash provided (required) by financing activities | -317.6 | | 149.9 |
Net increase (decrease) in cash and cash equivalents | -279.2 | | 101.3 |
Cash and cash equivalents at beginning of period | 827.7 | | 409.8 |
Cash and cash equivalents at end of period | 548.5 | | 511.1 |
Combined Guarantor Subsidiaries | | | |
Operating activities: | | | |
Net income | 181.7 | | 242.3 |
Equity in earnings of subsidiaries, net of taxes | -68.3 | | -68.1 |
Other | -181.7 | | -89 |
Net cash provided (required) by operating activities | -68.3 | | 85.2 |
Investing activities: | | | |
(Increase) decrease in short-term marketable securities | 0 | | 0 |
Proceeds from railcar lease fleet sales | 15.7 | | 146 |
Proceeds from disposition of property, plant, equipment, and other assets | 0 | | 0 |
Capital expenditures – leasing | -290 | | 1.9 |
Capital expenditures – manufacturing and other | -11.5 | | -7.6 |
Acquisitions, net of cash acquired | 0 | | 0 |
(Increase) decrease in investment in partially-owned subsidiaries | 7.2 | | 3.3 |
Other | 0.7 | | -1 |
Net cash provided (required) by investing activities | -277.9 | | 142.6 |
Financing activities: | | | |
Proceeds from issuance of common stock, net | 0 | | 0 |
Excess tax benefits from stock-based compensation | 0 | | 0 |
Payments to retire debt | -0.8 | | -0.8 |
(Increase) decrease in restricted cash | 0 | | 0 |
Shares repurchased | 0 | | 0 |
Dividends paid to common shareholders | 0 | | 0 |
Purchase of shares to satisfy employee tax on vested stock | 0 | | 0 |
Distributions to noncontrolling interest | 0 | | 0 |
Distributions to controlling interest in partially-owned subsidiaries | 0 | | 0 |
Change in intercompany financing between entities | 339 | | -228.1 |
Other | -0.7 | | -0.3 |
Net cash provided (required) by financing activities | 337.5 | | -229.2 |
Net increase (decrease) in cash and cash equivalents | -8.7 | | -1.4 |
Cash and cash equivalents at beginning of period | 11.1 | | 2.1 |
Cash and cash equivalents at end of period | 2.4 | | 0.7 |
Combined Non-Guarantor Subsidiaries | | | |
Operating activities: | | | |
Net income | 89.7 | | 85 |
Equity in earnings of subsidiaries, net of taxes | 0 | | 0 |
Other | 35.7 | | -22.1 |
Net cash provided (required) by operating activities | 125.4 | | 62.9 |
Investing activities: | | | |
(Increase) decrease in short-term marketable securities | 0 | | 0 |
Proceeds from railcar lease fleet sales | 78.2 | | 109.7 |
Proceeds from disposition of property, plant, equipment, and other assets | 1.6 | | 16.8 |
Capital expenditures – leasing | -8.8 | | -32.9 |
Capital expenditures – manufacturing and other | -40.2 | | -38.2 |
Acquisitions, net of cash acquired | -45.5 | | -112.6 |
(Increase) decrease in investment in partially-owned subsidiaries | 0 | | 0 |
Other | 3.5 | | 2.9 |
Net cash provided (required) by investing activities | -11.2 | | -54.3 |
Financing activities: | | | |
Proceeds from issuance of common stock, net | 0 | | 0 |
Excess tax benefits from stock-based compensation | 0 | | 0 |
Payments to retire debt | -70.1 | | -52.3 |
(Increase) decrease in restricted cash | 29.8 | | 6.7 |
Shares repurchased | 0 | | 0 |
Dividends paid to common shareholders | 0 | | 0 |
Purchase of shares to satisfy employee tax on vested stock | 0 | | 0 |
Distributions to noncontrolling interest | -11.3 | | -5.4 |
Distributions to controlling interest in partially-owned subsidiaries | -7.2 | | -3.3 |
Change in intercompany financing between entities | -67.9 | | 51.9 |
Other | 0 | | 0 |
Net cash provided (required) by financing activities | -126.7 | | -2.4 |
Net increase (decrease) in cash and cash equivalents | -12.5 | | 6.2 |
Cash and cash equivalents at beginning of period | 89.4 | | 44 |
Cash and cash equivalents at end of period | 76.9 | | 50.2 |
Eliminations | | | |
Operating activities: | | | |
Net income | -262.6 | | -320.7 |
Equity in earnings of subsidiaries, net of taxes | 265.1 | | 320.5 |
Other | -15.4 | | -2.6 |
Net cash provided (required) by operating activities | -12.9 | | -2.8 |
Investing activities: | | | |
(Increase) decrease in short-term marketable securities | 0 | | 0 |
Proceeds from railcar lease fleet sales | -15.4 | | -31.4 |
Proceeds from disposition of property, plant, equipment, and other assets | 0 | | 0 |
Capital expenditures – leasing | 15.4 | | 31.4 |
Capital expenditures – manufacturing and other | 0 | | 0 |
Acquisitions, net of cash acquired | 0 | | 0 |
(Increase) decrease in investment in partially-owned subsidiaries | -7.2 | | -3.3 |
Other | 0 | | 0 |
Net cash provided (required) by investing activities | -7.2 | | -3.3 |
Financing activities: | | | |
Proceeds from issuance of common stock, net | 0 | | 0 |
Excess tax benefits from stock-based compensation | 0 | | 0 |
Payments to retire debt | 0 | | 0 |
(Increase) decrease in restricted cash | 3.2 | | -2.4 |
Shares repurchased | 0 | | 0 |
Dividends paid to common shareholders | 0 | | 0 |
Purchase of shares to satisfy employee tax on vested stock | 0 | | 0 |
Distributions to noncontrolling interest | 0 | | 0 |
Distributions to controlling interest in partially-owned subsidiaries | 7.2 | | 3.3 |
Change in intercompany financing between entities | 12.9 | | 2.8 |
Other | 0 | | 0 |
Net cash provided (required) by financing activities | 23.3 | | 3.7 |
Net increase (decrease) in cash and cash equivalents | 3.2 | | -2.4 |
Cash and cash equivalents at beginning of period | -40.3 | | -27.4 |
Cash and cash equivalents at end of period | ($37.10) | | ($29.80) |
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[1] | (unaudited) |