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GATX CORP

For the period ended Jun 30, 2024. Filed Jul 25, 2024.

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About this filing

A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.

Jun 30, 2024 · Filed Jul 25, 2024

GATX$182.74-2.0%Stored close · as of Nov 6, 2026
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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 10-Q

☒QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the quarterly period ended June 30, 2024

or

☐TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

Commission File Number:1-2328

GATX Corporation

(Exact name of registrant as specified in its charter)

New York36-1124040
(State of incorporation)(I.R.S. Employer Identification No.)

233 South Wacker Drive

Chicago, Illinois 60606-7147

(Address of principal executive offices, including zip code)

(312)621-6200

(Registrant's telephone number, including area code)

Securities registered pursuant to Section 12(b) of the Act:

Title of each classTrading Symbol(s)Name of Each Exchange on Which Registered
Common StockGATXNew York Stock Exchange
GATXChicago Stock Exchange

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes ☒ No☐

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes ☒ No☐

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of "large accelerated filer," "accelerated filer," "smaller reporting company," and "emerging growth company" in Rule 12b-2 of the Exchange Act.

☒Large accelerated filer☐Smaller reporting company
☐Non-accelerated filer☐Emerging growth company
☐Accelerated filer

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.☐

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes☐ No☒

There were 35.6 million common shares outstanding at June 30, 2024.

GATX CORPORATION

FORM 10-Q

QUARTERLY REPORT FOR THE PERIOD ENDED JUNE 30, 2024

INDEX

Item No. · Page No.
Forward-Looking Statements1
Part I - FINANCIAL INFORMATION
Item 1Financial Statements
Condensed Consolidated Balance Sheets (Unaudited)2
Condensed Consolidated Statements of Comprehensive Income (Unaudited)3
Condensed Consolidated Statements of Cash Flows (Unaudited)4
Condensed Consolidated Statements of Changes in Shareholders' Equity (Unaudited)5
Notes to Condensed Consolidated Financial Statements (Unaudited)
Note 1. Description of Business6
Note 2. Basis of Presentation6
Note 3. Revenue7
Note 4. Operating Assets and Facilities8
Note 5. Leases8
Note 6. Fair Value9
Note 7. Pension and Other Post-Retirement Benefits13
Note 8. Share-Based Compensation14
Note 9. Income Taxes14
Note 10. Commercial Commitments14
Note 11. Earnings per Share15
Note 12. Accumulated Other Comprehensive Loss15
Note 13. Legal Proceedings and Other Contingencies16
Note 14. Financial Data of Business Segments17
Item 2Management’s Discussion and Analysis of Financial Condition and Results of Operations
Overview22
Discussion of Operating Results22
Segment Operations23
Cash Flow Discussion39
Liquidity and Capital Resources42
Critical Accounting Policies and Estimates44
Non-GAAP Financial Measures45
Item 3Quantitative and Qualitative Disclosures About Market Risk46
Item 4Controls and Procedures46
Part II - OTHER INFORMATION
Item 1Legal Proceedings47
Item 1ARisk Factors47
Item 2Unregistered Sales of Equity Securities, Use of Proceeds, and Issuer Purchases of Equity Securities47
Item 5Other Information47
Item 6Exhibits48
SIGNATURE49
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