XML 193 R11.htm IDEA: XBRL DOCUMENT
v2.4.1.9

Leases | 12 Months Ended
--- | ---
Dec. 31, 2014
Leases [Abstract] |
Leases | GATX as Lessor The following table shows the components of our direct finance leases as of December 31 (in millions):
| 2014 |  | 2013
Total contractual lease payments receivable | $ | 204.8 |  |  | $ | 270.2 |
Estimated unguaranteed residual value of leased assets | 68.5 |  |  | 79.8 |
Unearned income | (98.6 | ) |  | (142.7 | )
Finance leases | $ | 174.7 |  |  | $ | 207.3 |
Leveraged lease revenue We had no leveraged leases in 2014 and 2013. Revenue from leveraged leases (net of taxes) was $0.2 million in 2012. Usage rents We base lease revenue for certain operating leases on equipment usage. Lease revenue from such usage rents was $83.9 million in 2014, $21.3 million in 2013, and $18.2 million in 2012. The increase in 2014 was due to higher utilization revenue as a result of the acquisition of approximately 18,500 boxcars in March, 2014. Initial direct costs Deferred initial direct costs related to direct financing leases were $0.3 million at December 31, 2014 and $0.4 million, at December 31, 2013. Future receipts The following table shows our future contractual receipts from finance leases and noncancelable operating leases as of December 31, 2014 (in millions):
| Finance Leases |  | Operating Leases (1) |  | Total
2015 | $ | 26.3 |  |  | $ | 923.4 |  |  | $ | 949.7 |
2016 | 25.2 |  |  | 740.3 |  |  | 765.5 |
2017 | 23.9 |  |  | 584.1 |  |  | 608.0 |
2018 | 22.2 |  |  | 464.7 |  |  | 486.9 |
2019 | 11.8 |  |  | 370.0 |  |  | 381.8 |
Years thereafter | 95.4 |  |  | 770.4 |  |  | 865.8 |
| $ | 204.8 |  |  | $ | 3,852.9 |  |  | $ | 4,057.7 |
__________
(1) | The future contractual receipts due under our full-service operating leases include executory costs such as maintenance, car taxes, and insurance.
GATX as Lessee Capital Lease Assets The following table shows assets we financed with capital lease obligations as of December 31 (in millions):
| 2014 |  | 2013
Marine vessels | $ | 83.1 |  |  | $ | 81.4 |
Less: allowance for depreciation | (75.3 | ) |  | (71.4 | )
| $ | 7.8 |  |  | $ | 10.0 |
Operating Leases We lease assets that are closely associated with our revenue generating operations. At December 31, 2014 we leased approximately 23,000 railcars at Rail North America and one vessel at ASC. In addition, we lease office facilities and other general purpose equipment. Total operating lease expense, which includes amounts recorded in selling, general and administrative expense, was $112.9 million in 2014, $134.0 million in 2013, and $133.3 million in 2012. Lease Obligations For some leases, we have the option to renew the leases or purchase the assets at the end of the lease term. The specific terms of the renewal and purchase options vary, and we did not include these amounts in our future contractual rental payments. Additionally, the contractual rental payments do not include amounts we are required to pay for licenses, taxes, insurance, and maintenance. The following table shows our future contractual rental payments due under noncancelable leases as of December 31, 2014 (in millions):
| Capital Leases |  | Recourse Operating Leases |  | Nonrecourse Operating Leases (1)
2015 | $ | 3.1 |  |  | $ | 86.3 |  |  | $ | 11.0 |
2016 | 2.7 |  |  | 89.0 |  |  | 8.1 |
2017 | 1.1 |  |  | 94.2 |  |  | 9.5 |
2018 | — |  |  | 85.6 |  |  | 9.0 |
2019 | — |  |  | 81.5 |  |  | 9.7 |
Years thereafter | — |  |  | 310.1 |  |  | 18.7 |
| $ | 6.9 |  |  | $ | 746.7 |  |  | $ | 66.0 |
Less: amounts representing interest | (0.6 | ) |  |  |  |
Present value of future contractual capital lease payments | $ | 6.3 |  |  |  |  |
__________ (1) The amounts shown are primarily the rental payments of one wholly owned, bankruptcy-remote special purpose corporations. We consolidate these rentals for accounting purposes, but they are not our legal obligations.

X
- Definition Leases Text Block. + References No definition available. + Details
Name: | gmt_LeasesTextBlock
Namespace Prefix: | gmt_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Details
Name: | us-gaap_LeasesAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration