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Summary of Significant Accounting Policies (Tables)
 6 Months Ended
Jun. 30, 2018
Accounting Policies [Abstract]  
Remaining Performance Obligation
The following table includes estimated revenue expected to be recognized in future periods related to performance obligations that are unsatisfied or partially satisfied as of June 30, 2018 and the percentage of the outstanding performance obligations as of June 30, 2018 expected to be delivered during the remainder of 2018:
 
Unsatisfied performance obligations at June 30, 2018
 
Total
Amount
 
Percent expected to be delivered in 2018
 
(in millions)
 
 
Rail Group:
 
 
 
Railcars:
 
 
 
External Customers
$
1,922.8

 
 
Leasing Group
741.5

 
 
 
$
2,664.3

 
34
%
Components and maintenance services
$
66.4

 
63
%
 
 
 
 
Inland Barge Group
$
198.4

 
44
%
 
 
 
 
Energy Equipment Group:
 
 
 
Wind towers and utility structures
$
780.1

 
37
%
Other
$
53.2

 
86
%
 
 
 
 
Railcar Leasing and Management Services Group
$
124.7

 
10
%
ASU 2014-09 Adoption
The following tables summarize the impact of adopting ASU 2014-09 on the Company’s consolidated financial statements as of June 30, 2018 and for the three and six months then ended:
 
As Reported
 
Adjustments
 
Balance without adjustment for adoption of ASU 2014-09
 
(in millions)
Consolidated Statement of Operations
 
 
 
 
 
For the three months ended June 30, 2018:
 
 
 
 
 
Revenues - manufacturing
$
729.1

 
$
(3.3
)
 
$
725.8

Cost of revenues - manufacturing
599.6

 
(2.9
)
 
596.7

Operating profit
125.5

 
(0.4
)
 
125.1

Income before income taxes
86.1

 
(0.4
)
 
85.7

Provision for income taxes
20.6

 
(0.1
)
 
20.5

Net income
65.5

 
(0.3
)
 
65.2

Net income attributable to Trinity Industries, Inc.
64.1

 
(0.3
)
 
63.8

 
 
 
 
 
 
For the six months ended June 30, 2018:
 
 
 
 
 
Revenues - manufacturing
$
1,386.1

 
14.7

 
1,400.8

Cost of revenues - manufacturing
1,136.3

 
11.1

 
1,147.4

Operating profit
224.1

 
3.6

 
227.7

Income before income taxes
142.5

 
3.6

 
146.1

Provision for income taxes
35.4

 
0.8

 
36.2

Net income
107.1

 
2.8

 
109.9

Net income attributable to Trinity Industries, Inc.
104.3

 
2.8

 
107.1

 
 
 
 
 
 
Consolidated Balance Sheet
 
 
 
 
 
Receivables, net of allowance
$
356.1

 
$
(12.0
)
 
$
344.1

Inventories:
 
 
 
 
 
Raw materials and supplies
300.4

 
—

 
300.4

Work in process
149.2

 
15.7

 
164.9

Finished goods
136.8

 
0.8

 
137.6

 
 
 
 
 
 
Accrued liabilities
435.0

 
(4.3
)
 
430.7

Deferred income taxes
734.0

 
2.0

 
736.0

Retained earnings
4,203.4

 
6.8

 
4,210.2

 
 
 
 
 
 
Consolidated Statement of Cash Flows
 
 
 
 
 
For the six months ended June 30, 2018:
 
 
 
 
 
Operating activities:
 
 
 
 
 
Net income
$
107.1

 
$
2.8

 
$
109.9

Provision for deferred income taxes
36.2

 
0.8

 
37.0

(Increase) decrease in receivables
31.8

 
4.1

 
35.9

(Increase) decrease in inventories
26.1

 
11.1

 
37.2

Increase (decrease) in accrued liabilities
(27.8
)
 
(18.8
)
 
(46.6
)
Net cash provided by operating activities
348.3

 
—

 
348.3