$GATX

GATX CORP

CIK:0000040211|SEC Filings

Condensed Consolidated Statements of Income (Unaudited) - USD ($) shares in Millions, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Revenues
Lease Income	$ 508.4	$ 368.8	$ 1,027.1	$ 728.4
Non-dedicated engine revenue	20.6	20.5	42.7	42.0
Other Operating Income	51.1	41.2	94.0	81.7
Total Revenues	580.1	430.5	1,163.8	852.1
Total expenses (1)
Maintenance expense	151.8	104.5	292.5	208.0
Depreciation expense	166.5	106.9	335.7	210.5
Operating lease expense	7.4	7.1	14.8	14.7
Other operating expense	24.8	16.5	46.6	32.5
Selling, general and administrative expense	69.2	58.2	140.5	114.8
Total expenses (1)	419.7	293.2	830.1	580.5
Other Income (Expense)
Net gain on asset dispositions	69.7	40.5	120.7	73.9
Interest expense, net	(143.0)	(96.2)	(294.0)	(191.1)
Other (expense) income	12.7	(1.1)	18.9	(3.8)
Income before income taxes	99.8	80.5	179.3	150.6
Income taxes	(26.0)	(21.0)	(47.2)	(37.6)
Share of affiliates' earnings, net of taxes	37.2	16.0	58.0	41.1
Net Income	111.0	75.5	190.1	154.1
Net income	7.6	0.0	1.2	0.0
Net income	$ 103.4	$ 75.5	$ 188.9	$ 154.1
GATX Share Data
Basic earnings per share (in dollars per share)	$ 2.85	$ 2.07	$ 5.20	$ 4.22
Denominator for basic earnings per share — weighted average shares	35.7	35.9	35.7	35.9
Diluted earnings per share (in dollars per share)	$ 2.84	$ 2.06	$ 5.19	$ 4.21
Weighted Average Number of Shares Outstanding, Diluted	35.8	35.9	35.8	36.0

Consolidated Statements of Cash Flows - USD ($)	6 Months Ended
Consolidated Statements of Cash Flows - USD ($)	Jun. 30, 2026	Jun. 30, 2025
Statement of Cash Flows [Abstract]
Net Income	$ 190,100,000	$ 154,100,000
Adjustments to reconcile income to net cash provided by operating activities:
Depreciation, Depletion and Amortization	347,000,000.0	220,600,000
Net gains on sales of assets	(122,200,000)	(77,200,000)
Asset impairments	1,700,000	3,600,000
Deferred income taxes	36,400,000	32,000,000.0
Share of affiliates’ earnings, net of dividends	11,200,000	(41,100,000)
Changes in working capital items	11,100,000	(6,500,000)
Net cash provided by operating activities	475,300,000	285,500,000
Investing Activities
Portfolio investments and capital additions	(4,720,500,000)	(515,300,000)
Portfolio proceeds	379,700,000	146,500,000
Purchases of assets previously leased	(3,800,000)	(15,000,000.0)
Proceeds from sales of other assets	29,100,000	17,400,000
Other	2,300,000	1,400,000
Net cash used in investing activities	(4,313,200,000)	(365,000,000.0)
Financing Activities
Net proceeds from issuances of debt with original maturities longer than 90 days	994,000,000.0	879,800,000
Repayments of debt with original maturities longer than 90 days	(1,149,800,000)	(406,600,000)
Net decrease in debt with original maturities of 90 days or less	(25,700,000)	(200,000)
Share repurchases	(48,300,000)	(17,100,000)
Dividends to GATX shareholders	(49,000,000.0)	(45,700,000)
Distributions to non-controlling interest	(49,900,000)	0
Exercise of GABX call option	(66,200,000)	0
Other	(1,300,000)	15,400,000
Net cash (used in) provided by financing activities	(396,200,000)	425,600,000
Effect of Exchange Rate Changes on Cash, Cash Equivalents, and Restricted Cash	(3,600,000)	7,300,000
Net (decrease) increase in Cash, Cash Equivalents, and Restricted Cash during the period	(4,237,700,000)	353,400,000
Cash, Cash Equivalents, and Restricted Cash at beginning of the period	4,984,900,000	401,800,000
Cash, Cash Equivalents, and Restricted Cash at end of the period	$ 747,200,000	$ 755,200,000

Consolidated Balance Sheets - USD ($) $ in Millions	Jun. 30, 2026	Dec. 31, 2025
Assets
Cash and Cash Equivalents	$ 747.1	$ 743.0
Restricted cash	0.1	4,241.9
Receivables
Rent and other receivables	157.4	109.0
Finance leases (as lessor)	191.2	104.2
Less: allowance for losses	(6.2)	(6.0)
Receivables, net	342.4	207.2
Property, Plant and Equipment, Net [Abstract]
Operating Assets and Facilities	19,695.8	15,662.6
Less: allowance for depreciation	(4,426.1)	(4,251.7)
Operating assets and facilities, net	15,269.7	11,410.9
Lease Assets (as lessee)
Right-of-use assets, net of accumulated depreciation	127.5	137.4
Investments in Affiliated Companies	721.9	732.3
Goodwill	123.4	126.3
Other Assets	388.8	400.5
Total Assets	17,720.9	17,999.5
Liabilities and Shareholders’ Equity
Accounts Payable and Accrued Expenses	279.2	318.4
Debt
Commercial paper and borrowings under bank credit facilities	44.0	82.2
Recourse	12,289.3	12,451.7
Borrowings under bank credit facilities	12,333.3	12,533.9
Lease, Liability [Abstract]
Operating leases	143.8	154.3
Deferred income taxes	1,232.3	1,195.7
Other Liabilities	142.4	162.1
Total Liabilities	14,131.0	14,364.4
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	43.0	42.9
Additional paid in capital	865.4	875.4
Retained earnings	3,591.5	3,451.2
Accumulated other comprehensive loss	(149.7)	(104.6)
Treasury stock at cost (34,189,318 and 33,916,337 shares)	(1,565.8)	(1,514.4)
Total GATX Shareholders' Equity	2,784.4	2,750.5
Non-Controlling Interest	805.5	884.6
Total Equity	3,589.9	3,635.1
Total Liabilities and Shareholders’ Equity	$ 17,720.9	$ 17,999.5