XML 16 R4.htm IDEA: XBRL DOCUMENT v3.5.0.2
Consolidated Statements of Income - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
May 31, 2016
May 31, 2015
May 31, 2016
May 31, 2015
Revenue        
Revenue $ 612,866 $ 714,606 $ 2,084,334 $ 1,839,813
Cost of revenue        
Cost of revenue 485,768 565,320 1,652,580 1,477,149
Margin 127,098 149,286 431,754 362,664
Selling and administrative expense 43,280 45,595 118,073 112,223
Net gain on disposition of equipment (311) (720) (11,326) (924)
Earnings from operations 84,129 104,411 325,007 251,365
Other costs        
Interest and foreign exchange 3,712 4,285 10,565 9,355
Earnings before income taxes and earnings from unconsolidated affiliates 80,417 100,126 314,442 242,010
Income tax (expense) benefit (22,449) (30,783) (92,902) (76,209)
Earnings before earnings from unconsolidated affiliates 57,968 69,343 221,540 165,801
Earnings from unconsolidated affiliates 1,564 982 2,921 1,552
Net earnings 59,532 70,325 224,461 167,353
Net earnings attributable to noncontrolling interest (24,180) (27,514) (74,808) (41,405)
Net earnings attributable to Greenbrier $ 35,352 $ 42,811 $ 149,653 $ 125,948
Basic earnings per common share $ 1.22 $ 1.54 $ 5.13 $ 4.58
Diluted earnings per common share [1] $ 1.12 $ 1.33 $ 4.67 $ 3.91
Weighted average common shares:        
Basic [2] 29,059 27,842 29,182 27,514
Diluted 32,342 33,000 32,475 33,262
Dividends declared per common share $ 0.20 $ 0.15 $ 0.60 $ 0.45
Manufacturing        
Revenue        
Revenue $ 458,494 $ 593,376 $ 1,611,686 $ 1,478,566
Cost of revenue        
Cost of revenue 352,775 465,658 1,247,635 1,184,922
Earnings from operations 92,713 115,675 325,215 258,602
Wheels & Parts        
Revenue        
Revenue 78,417 97,407 247,604 286,671
Cost of revenue        
Cost of revenue 69,818 89,645 224,208 259,285
Earnings from operations 5,811 5,078 15,720 20,986
Leasing & Services        
Revenue        
Revenue 75,955 23,823 225,044 74,576
Cost of revenue        
Cost of revenue 63,175 10,017 180,737 32,942
Earnings from operations $ 8,298 $ 10,824 $ 42,668 $ 31,677
[1] Diluted earnings per share was calculated as follows: Earnings before interest and debt issuance costs (net of tax) on convertible notes Weighted average diluted common shares outstanding
[2] Restricted stock grants and restricted stock units, including some grants subject to certain performance criteria, are included in weighted average basic common shares outstanding when the Company is in a net earnings position.