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Note 14. Earnings Per Common Share
 12 Months Ended
Dec. 31, 2019
Earnings Per Common Share [Abstract]  
Earnings Per Share [Text Block]
Note 14. Earnings Per Common Share
Basic net income attributable to Trinity Industries, Inc. per common share ("EPS") is computed by dividing net income attributable to Trinity remaining after allocation to unvested restricted shares by the weighted average number of basic common shares outstanding for the period. Except when the effect would be antidilutive, the calculation of diluted EPS includes 1) the net impact of unvested RSAs and RSUs and 2) with respect to the years ended December 31, 2018 and 2017, the dilutive impact of our then-outstanding convertible notes due 2036 (the "Convertible Notes"), which were converted and settled in cash during the second quarter of 2018. See Note 11 of our 2018 Annual Report on Form 10-K for further information regarding the settlement of the Convertible Notes. Total weighted average restricted shares were 5.5 million, 5.8 million, and 6.4 million shares for the years ended December 31, 2019, 2018, and 2017, respectively. Approximately 0.2 million of these shares were excluded from the EPS calculation for the year ended December 31, 2019, as their effect would have been antidilutive. There were no antidilutive restrictive shares for the years ended December 31, 2018 and 2017.
The computation of basic and diluted net income attributable to Trinity Industries, Inc. is as follows:
 
Year Ended December 31,
 
2019
 
2018
 
2017
 
(in millions, except per share amounts)
Income from continuing operations
$
139.2

 
$
109.0

 
$
610.2

Less: Net (income) loss attributable to noncontrolling interest
1.5

 
(3.8
)
 
(11.1
)
Unvested restricted share participation — continuing operations
(1.8
)
 
(2.2
)
 
(13.5
)
Convertible subordinated notes
—

 
—

 
0.3

Net income from continuing operations attributable to Trinity Industries, Inc.
138.9

 
103.0

 
585.9

Net income (loss) from discontinued operations, net of income taxes
(3.1
)
 
54.1

 
103.4

Unvested restricted share participation — discontinued operations
—

 
(0.6
)
 
(1.9
)
Net income (loss) from discontinued operations attributable to Trinity Industries, Inc.
(3.1
)
 
53.5

 
101.5

Net income attributable to Trinity Industries, Inc., including the effect of unvested restricted share participation
$
135.8

 
$
156.5

 
$
687.4

 
 
 
 
 
 
Basic weighted average shares outstanding
125.6

 
144.0

 
148.6

Effect of dilutive securities:
 
 
 
 
 
Nonparticipating unvested RSUs and RSAs
1.7

 
1.0

 
0.5

Convertible subordinated notes
—

 
1.4

 
2.9

Diluted weighted average shares outstanding
127.3

 
146.4

 
152.0

 
 
 
 
 
 
Basic earnings per common share:
 
 
 
 
 
Income from continuing operations
$
1.11

 
$
0.72

 
$
3.94

Income (loss) from discontinued operations
(0.02
)
 
0.37

 
0.68

Basic net income attributable to Trinity Industries, Inc.
$
1.09

 
$
1.09

 
$
4.62

Diluted earnings per common share:
 
 
 
 
 
Income from continuing operations
$
1.09

 
$
0.70

 
$
3.85

Income (loss) from discontinued operations
(0.02
)
 
0.37

 
0.67

Diluted net income attributable to Trinity Industries, Inc.
$
1.07

 
$
1.07

 
$
4.52