GATX CORP
For the period ended Dec 31, 2025. Filed Feb 19, 2026.
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FY2025 · Filed Feb 19, 2026
GATX$187.22+0.7%Stored close · as of Nov 10, 2026
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Item 8. Consolidated Statements of Cash Flows
CONSOLIDATED STATEMENTS OF CASH FLOWS
(In millions)
| Year Ended December 31 | |||
|---|---|---|---|
| 2025 | 2024 | 2023 | |
| Operating Activities | |||
| Net income | $333.3 | $284.2 | $259.2 |
| Adjustments to reconcile net income to net cash provided by operating activities: | |||
| Depreciation and amortization | 452.3 | 421.4 | 392.1 |
| Net gains on sales of assets | (140.0) | (137.8) | (130.9) |
| Asset impairments | 3.6 | — | 1.5 |
| Employee benefit plans | (0.2) | (0.8) | (4.3) |
| Share-based compensation | 25.0 | 23.0 | 18.3 |
| Deferred income taxes | 53.2 | 45.8 | 38.3 |
| Share of affiliates’ earnings, net of dividends | (67.3) | (32.8) | (47.4) |
| Changes in working capital items | (11.8) | (0.9) | (6.4) |
| Net cash provided by operating activities | 648.1 | 602.1 | 520.4 |
| Investing Activities | |||
| Portfolio investments and capital additions | (1,316.7) | (1,674.4) | (1,665.0) |
| Purchases of assets previously leased | (15.0) | — | — |
| Portfolio proceeds | 275.0 | 230.6 | 272.8 |
| Proceeds from sales of other assets | 36.8 | 24.9 | 20.2 |
| Short-term investments | — | — | 150.0 |
| Other | 3.1 | 2.2 | 2.7 |
| Net cash used in investing activities | (1,016.8) | (1,416.7) | (1,219.3) |
| Financing Activities | |||
| Net proceeds from issuances of debt with original maturities longer than 90 days | 4,841.5 | 1,295.6 | 1,420.0 |
| Repayments of debt with original maturities longer than 90 days | (733.4) | (413.5) | (500.0) |
| Net increase (decrease) in debt with original maturities of 90 days or less | 70.4 | — | (7.1) |
| Purchases of assets previously leased | — | (30.4) | — |
| Stock repurchases | (65.0) | (21.9) | (2.6) |
| Dividends | (89.8) | (84.8) | (80.6) |
| GABX equity contribution from non-controlling interest | 899.0 | — | — |
| Other | 22.1 | 25.5 | 14.4 |
| Net cash provided by financing activities | 4,944.8 | 770.5 | 844.1 |
| Effect of Exchange Rate Changes on Cash, Cash Equivalents, and Restricted Cash | 7.0 | (4.9) | 1.6 |
| Net increase (decrease) in Cash, Cash Equivalents, and Restricted Cash during the year | 4,583.1 | (49.0) | 146.8 |
| Cash, Cash Equivalents, and Restricted Cash at beginning of year | 401.8 | 450.8 | 304.0 |
| Cash, Cash Equivalents, and Restricted Cash at end of year | $4,984.9 | $401.8 | $450.8 |
| Supplemental Cash Flow Information: | |||
| Interest paid (1) | $413.2 | $350.1 | $260.1 |
(1)Interest paid consisted of interest on debt obligations and interest rate swaps (net of interest received).
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