8-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

Form 8-K

Current Report

Pursuant to Section 13 or 15(d) of the

Securities Exchange Act of 1934

Date of Report (Date of earliest event reported) February 6, 2014

THE GREENBRIER COMPANIES, INC.

(Exact name of registrant as specified in its charter)

Commission File No. 1-13146

Oregon	93-0816972
(State of Incorporation)	(I.R.S. Employer Identification No.)

One Centerpointe Drive, Suite 200, Lake Oswego, OR 97035

(Address of principal executive offices) (Zip Code)

(503) 684-7000

(Registrant’s telephone number, including area code)

Former name or former address, if changed since last report: N/A

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

¨ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

¨ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

¨ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

¨ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Item 2.02 Results of Operations and Financial Condition

The Company is providing supplemental segment information on the performance of each of the Company’s segments as of and for the three months ended November 30, 2013, August 31, 2013, May 31, 2013, February 28, 2013 and November 30, 2012. Previously the Company evaluated segment performance based on gross margin. Beginning in the first quarter of 2014, the Company changed the methodology of measuring segment profit and loss as management began evaluating segment performance based on earnings (loss) from operations. For comparability, the Company is providing updated segment information for prior periods which conforms to the new methodology. The change in presentation did not result in any change to consolidated Earnings (loss) from operations or Net earnings (loss) attributable to Greenbrier.

Item 9.01 Financial Statements and Exhibits

(d) Exhibits

99.1 Supplemental segment information of The Greenbrier Companies, Inc.

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SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

	THE GREENBRIER COMPANIES, INC.
Date: February 6, 2014	By:	/s/ Mark J. Rittenbaum
		Mark J. Rittenbaum
		Executive Vice President and Chief Financial Officer
		(Principal Financial Officer)

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EX-99.1

Exhibit 99.1

SUPPLEMENTAL INFORMATION

(In thousands, unaudited)

Segment Information

Greenbrier operates in three reportable segments: Manufacturing; Wheels, Repair & Parts; and Leasing & Services. The accounting policies of the segments are described in the summary of significant accounting policies in the Consolidated Financial Statements contained in the Company’s 2013 Annual Report on Form 10-K. Performance for each of these segments is evaluated based on earnings (loss) from operations. Corporate includes selling and administrative costs not directly related to goods and services and certain costs that are intertwined among segments due to the Company’s integrated business. Greenbrier’s management does not allocate Interest and foreign exchange or Income tax benefit (expense) for either external or internal reporting purposes. Intersegment sales and transfers are valued as if the sales or transfers were to third parties. Related revenue and margin are eliminated in consolidation and therefore are not included in consolidated results in the Company’s Consolidated Financial Statements.

The information in the following table is derived directly from the segments’ internal financial reports used for corporate management purposes.

For the three months ended November 30, 2013

	Revenue								Earnings (loss) from operations
	External		Intersegment			Total			External			Intersegment			Total
Manufacturing	$	359,473	$	—		$	359,473		$	38,314		$	—		$	38,314
Wheels, Repair & Parts		113,401		1,653			115,054			(374	)		31			(343	)
Leasing & Services		17,481		2,869			20,350			8,670			2,869			11,539
Eliminations		—		(4,522	)		(4,522	)		—			(2,900	)		(2,900	)
Corporate		—		—			—			(8,388	)		—			(8,388	)
	$	490,355	$	—		$	490,355		$	38,222		$	—		$	38,222

For the three months ended August 31, 2013

	Revenue								Earnings (loss) from operations
	External		Intersegment			Total			External			Intersegment			Total
Manufacturing	$	351,728	$	15		$	351,743		$	30,227		$	—		$	30,227
Wheels, Repair & Parts		114,003		3,326			117,329			(108	)		(66	)		(174	)
Leasing & Services		18,484		9,040			27,524			15,247			9,040			24,287
Eliminations		—		(12,381	)		(12,381	)		—			(8,974	)		(8,974	)
Corporate		—		—			—			(6,139	)		—			(6,139	)
	$	484,215	$	—		$	484,215		$	39,227		$	—		$	39,227

For the three months ended May 31, 2013

	Revenue								Earnings (loss) from operations
	External		Intersegment			Total			External			Intersegment			Total
Manufacturing	$	284,591	$	27		$	284,618		$	21,551		$	—		$	21,551
Wheels, Repair & Parts		131,167		2,548			133,715			(70,242	)		29			(70,213	)
Leasing & Services		17,905		2,853			20,758			9,427			2,851			12,278
Eliminations		—		(5,428	)		(5,428	)		—			(2,880	)		(2,880	)
Corporate		—		—			—			(7,808	)		—			(7,808	)
	$	433,663	$	—		$	433,663		$	(47,072	)	$	—		$	(47,072	)

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SUPPLEMENTAL INFORMATION

(In thousands, unaudited)

For the three months ended February 28, 2013

	Revenue								Earnings (loss) from operations
	External		Intersegment			Total			External			Intersegment			Total
Manufacturing	$	294,047	$	253		$	294,300		$	21,542		$	15		$	21,557
Wheels, Repair & Parts		111,952		3,698			115,650			3,247			(191	)		3,056
Leasing & Services		17,167		2,455			19,622			9,036			2,454			11,490
Eliminations		—		(6,406	)		(6,406	)		—			(2,278	)		(2,278	)
Corporate		—		—			—			(7,416	)		—			(7,416	)
	$	423,166	$	—		$	423,166		$	26,409		$	—		$	26,409

For the three months ended November 30, 2012

	Revenue								Earnings (loss) from operations
	External		Intersegment			Total			External			Intersegment			Total
Manufacturing	$	285,368	$	6,949		$	292,317		$	15,502		$	(45	)	$	15,457
Wheels, Repair & Parts		112,100		5,386			117,486			6,137			(63	)		6,074
Leasing & Services		17,906		4,392			22,298			8,701			4,392			13,093
Eliminations		—		(16,727	)		(16,727	)		—			(4,284	)		(4,284	)
Corporate		—		—			—			(7,253	)		—			(7,253	)
	$	415,374	$	—		$	415,374		$	23,087		$	—		$	23,087

	Total assets
	November 30,		August 31,		May 31,		February 28,		November 30,
	2013		2013		2013		2013		2012
Manufacturing	$	461,096	$	401,630	$	428,781	$	424,622	$	442,186
Wheels, Repair & Parts		304,249		318,483		334,974		408,958		417,777
Leasing & Services		427,023		463,381		481,331		466,802		487,161
Unallocated		90,210		106,247		40,520		64,539		48,609
	$	1,282,578	$	1,289,741	$	1,285,606	$	1,364,921	$	1,395,733

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