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Summary of Significant Accounting Policies (Tables)
 9 Months Ended
Sep. 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 September 30, 2018 and the percentage of the outstanding performance obligations as of September 30, 2018 expected to be delivered during the remainder of 2018:
 
Unsatisfied performance obligations at September 30, 2018
 
Total
Amount
 
Percent expected to be delivered in 2018
 
(in millions)
 
 
Rail Group:
 
 
 
Railcars:
 
 
 
External Customers
$
2,001.2

 
 
Leasing Group
1,199.6

 
 
 
$
3,200.8

 
20
%
Components and maintenance services
$
58.5

 
36
%
 
 
 
 
Inland Barge Group
$
210.4

 
21
%
 
 
 
 
Energy Equipment Group:
 
 
 
Wind towers and utility structures
$
700.3

 
23
%
Other
$
83.5

 
37
%
 
 
 
 
Railcar Leasing and Management Services Group
$
123.1

 
5
%
ASU 2014-09 Adoption
The following tables summarize the impact of adopting ASU 2014-09 on the Company’s consolidated financial statements as of September 30, 2018 and for the three and nine 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 September 30, 2018:
 
 
 
 
 
Revenues - manufacturing
$
703.7

 
$
(8.3
)
 
$
695.4

Cost of revenues - manufacturing
619.0

 
(5.7
)
 
613.3

Operating profit
78.9

 
(2.6
)
 
76.3

Income before income taxes
39.0

 
(2.6
)
 
36.4

Provision for income taxes
10.7

 
(0.6
)
 
10.1

Net income
28.3

 
(2.0
)
 
26.3

Net income attributable to Trinity Industries, Inc.
27.7

 
(2.0
)
 
25.7

 
 
 
 
 
 
For the nine months ended September 30, 2018:
 
 
 
 
 
Revenues - manufacturing
$
2,089.8

 
$
6.4

 
$
2,096.2

Cost of revenues - manufacturing
1,755.3

 
5.4

 
1,760.7

Operating profit
303.0

 
1.0

 
304.0

Income before income taxes
181.5

 
1.0

 
182.5

Provision for income taxes
46.1

 
0.2

 
46.3

Net income
135.4

 
0.8

 
136.2

Net income attributable to Trinity Industries, Inc.
132.0

 
0.8

 
132.8

 
 
 
 
 
 
Consolidated Balance Sheet
 
 
 
 
 
Receivables, net of allowance
$
396.2

 
$
(16.1
)
 
$
380.1

Inventories:
 
 
 
 
 
Raw materials and supplies
376.6

 
—

 
376.6

Work in process
182.2

 
17.1

 
199.3

Finished goods
148.2

 
5.4

 
153.6

 
 
 
 
 
 
Accrued liabilities
411.0

 
(0.1
)
 
410.9

Deferred income taxes
755.9

 
1.5

 
757.4

Retained earnings
4,212.1

 
5.0

 
4,217.1

 
 
 
 
 
 
Consolidated Statement of Cash Flows
 
 
 
 
 
For the nine months ended September 30, 2018:
 
 
 
 
 
Operating activities:
 
 
 
 
 
Net income
$
135.4

 
$
0.8

 
$
136.2

Provision for deferred income taxes
57.8

 
0.2

 
58.0

(Increase) decrease in receivables
(23.5
)
 
8.3

 
(15.2
)
(Increase) decrease in inventories
(110.1
)
 
5.4

 
(104.7
)
Increase (decrease) in accrued liabilities
(14.7
)
 
(14.7
)
 
(29.4
)
Net cash provided by operating activities
319.9

 
—

 
319.9