Earnings Per Common Share (Tables)

9 Months Ended

Sep. 30, 2020

Computation of basic and diluted net income attributable to Trinity Industries, Inc.

The computation of basic and diluted net income attributable to Trinity Industries, Inc. is as follows.


	Three Months Ended September 30,						Nine Months Ended September 30,
	2020		2019		2020		2019
	(in millions, except per share amounts)
Income (loss) from continuing operations	$	25.9	$	48.1	$	(99.4)	$	116.9
Less: Net (income) loss attributable to noncontrolling interest	(0.8)		1.3		79.5		1.4
Unvested restricted share participation — continuing operations	(0.2)		(0.6)		—		(1.6)
Net income (loss) from continuing operations attributable to Trinity Industries, Inc.	24.9		48.8		(19.9)		116.7
Net loss from discontinued operations, net of income taxes	—		(0.4)		(0.2)		(2.3)
Unvested restricted share participation — discontinued operations	—		—		—		—
Net loss from discontinued operations attributable to Trinity Industries, Inc.	—		(0.4)		(0.2)		(2.3)
Net income (loss) attributable to Trinity Industries, Inc., including the effect of unvested restricted share participation	$	24.9	$	48.4	$	(20.1)	$	114.4

Basic weighted average shares outstanding	116.4		124.7		117.2		127.6
Effect of dilutive securities:
Nonparticipating unvested RSUs and RSAs	0.6		1.3		—		1.6

Diluted weighted average shares outstanding	117.0		126.0		117.2		129.2

Basic earnings per common share:
Income (loss) from continuing operations	$	0.21	$	0.39	$	(0.17)	$	0.91
Income (loss) from discontinued operations	—		—		—		(0.02)
Basic net income (loss) attributable to Trinity Industries, Inc.	$	0.21	$	0.39	$	(0.17)	$	0.89
Diluted earnings per common share:
Income (loss) from continuing operations	$	0.21	$	0.39	$	(0.17)	$	0.90
Income (loss) from discontinued operations	—		—		—		(0.02)
Diluted net income (loss) attributable to Trinity Industries, Inc.	$	0.21	$	0.39	$	(0.17)	$	0.88