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Debt (Tables) | 12 Months Ended
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Dec. 31, 2019
Debt Disclosure [Abstract] |
Outstanding balances of debt obligations and the applicable interest rates | The following table shows the outstanding balances of our debt obligations and the applicable interest rates as of December 31 (in millions):
| 2024 |  | 2023
Unsecured Recourse Fixed Rate Debt: |  |  |
U.S. |  |  |
3.25% Notes due March 2025 | $ | 300.0 |  |  | $ | 300.0 |
3.25% Notes due September 2026 | 350.0 |  |  | 350.0 |
5.40% Notes due March 2027 | 350.0 |  |  | — |
3.85% Notes due March 2027 | 300.0 |  |  | 300.0 |
3.50% Notes due March 2028 | 300.0 |  |  | 300.0 |
4.55% Notes due November 2028 | 300.0 |  |  | 300.0 |
4.70% Notes due April 2029 | 500.0 |  |  | 500.0 |
4.00% Notes due June 2030 | 500.0 |  |  | 500.0 |
1.90% Notes due June 2031 | 400.0 |  |  | 400.0 |
3.50% Notes due June 2032 | 400.0 |  |  | 400.0 |
4.90% Notes due March 2033 | 400.0 |  |  | 400.0 |
5.45% Notes due September 2033 | 400.0 |  |  | 400.0 |
6.05% Notes due March 2034 | 500.0 |  |  | 300.0 |
6.90% Notes due May 2034 | 400.0 |  |  | 400.0 |
5.20% Notes due March 2044 | 300.0 |  |  | 300.0 |
4.50% Notes due March 2045 | 250.0 |  |  | 250.0 |
3.10% Notes due June 2051 | 550.0 |  |  | 550.0 |
6.05% Notes due May 2054 | 400.0 |  |  | — |
4.35% Notes due February 2024 | — |  |  | 300.0 |
| $ | 6,900.0 |  |  | $ | 6,250.0 |
Europe (1) |  |  |
1.00% Notes due March 2025 | $ | 103.5 |  |  | $ | 110.4 |
1.13% Notes due August 2025 | 103.5 |  |  | 110.4 |
0.90% Schuldschein loan due October 2026 | 23.8 |  |  | 25.4 |
1.07% Notes due November 2026 | 77.7 |  |  | 82.8 |
| 2024 |  | 2023
5.23% Schuldschein loan due November 2026 | 38.8 |  |  | 41.4 |
4.37% Schuldschein loan due May 2027 | 36.2 |  |  | — |
1.17% Schuldschein loan due October 2028 | 53.8 |  |  | 57.4 |
1.56% Schuldschein loan due October 2031 | 77.7 |  |  | 82.8 |
3.62% Loan due December 2031 (3) | 103.5 |  |  | 110.4 |
0.85% Notes due May 2024 | — |  |  | 115.8 |
| $ | 618.5 |  |  | $ | 736.8 |
India (2) |  |  |
8.39% - 8.83% Term loan due June 2027 (4) | $ | 47.9 |  |  | $ | 49.4 |
8.13% - 8.53% Term loan due February 2028 (4) | 26.9 |  |  | 27.6 |
8.43% - 8.94% Term loan due February 2029 (4) | 46.7 |  |  | 24.0 |
8.51% - 8.88% Term loan due January 2030 (4) | 23.4 |  |  | — |
| $ | 144.9 |  |  | $ | 101.0 |
Total unsecured fixed rate debt | $ | 7,663.4 |  |  | $ | 7,087.8 |
Unsecured Recourse Floating Rate Debt (5): |  |  |
U.S. |  |  |
6.47% Notes due January 2026 | $ | 100.0 |  |  | $ | 100.0 |
6.30% Notes due January 2028 | 50.0 |  |  | 50.0 |
7.14% Notes due September 2029 | 50.0 |  |  | 50.0 |
| $ | 200.0 |  |  | $ | 200.0 |
Europe (1) |  |  |
4.32% Loan due December 2025 | $ | 125.3 |  |  | $ | — |
4.84% Notes due December 2027 | 113.9 |  |  | 121.4 |
5.36% Loan due May 2029 | 77.7 |  |  | — |
6.05% Loan due November 2030 | 38.8 |  |  | 41.4 |
5.02% Loan due March 2031 | 51.8 |  |  | — |
| $ | 407.5 |  |  | $ | 162.8 |
Total recourse floating rate debt | $ | 607.5 |  |  | $ | 362.8 |
Total debt principal | $ | 8,270.9 |  |  | $ | 7,450.6 |
Unamortized debt discount and debt issuance costs | (51.6) |  |  | (54.5) |
Debt adjustment for fair value hedges | (4.0) |  |  | (8.0) |
Total Debt | $ | 8,215.3 |  |  | $ | 7,388.1 |
__________ (1) Denominated in euros, but presented in U.S. dollars in this table. (2) Denominated in Indian rupees, but presented in U.S. dollars in this table. (3) The loan was originally set to mature in November 2024 but was extended to December 2031 at a new rate of 3.62%. (4) Term loans were drawn against delayed draw term loans in multiple tranches, resulting in various interest rates for each tranche. (5) For floating rate debt, the interest disclosed is the applicable interest rate as of December 31, 2024.
Maturities of GATX's debt obligation | The following table shows the scheduled principal payments of our debt obligations as of December 31, 2024 (in millions):
2025 | $ | 632.4 |
2026 | 602.3 |
2027 | 836.1 |
2028 | 730.7 |
2029 | 674.4 |
Thereafter | 4,795.0 |
Total debt principal | $ | 8,270.9 |

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