Earnings Per Common Share (Tables)

9 Months Ended

Sep. 30, 2021

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

The following table sets forth the computation of basic and diluted net income (loss) attributable to Trinity Industries, Inc. for the three and nine months ended September 30, 2021 and 2020.


	Three Months Ended September 30,				Nine Months Ended September 30,
	2021		2020		2021		2020
	(in millions, except per share amounts)
Income (loss) from continuing operations	$	36.3	$	25.9	$	42.8	$	(99.4)
Less: Net (income) loss attributable to noncontrolling interest	(3.9)		(0.8)		6.0		79.5
Unvested restricted share participation – continuing operations	—		(0.2)		—		—
Net income (loss) from continuing operations attributable to Trinity Industries, Inc.	32.4		24.9		48.8		(19.9)
Net loss from discontinued operations, net of income taxes	(0.4)		—		(0.8)		(0.2)
Unvested restricted share participation – discontinued operations	—		—		—		—
Net loss from discontinued operations attributable to Trinity Industries, Inc.	(0.4)		—		(0.8)		(0.2)
Net income (loss) attributable to Trinity Industries, Inc., including the effect of unvested restricted share participation	$	32.0	$	24.9	$	48.0	$	(20.1)

Basic weighted average shares outstanding	97.7		116.4		103.4		117.2
Effect of dilutive securities	1.8		0.6		2.3		—
Diluted weighted average shares outstanding	99.5		117.0		105.7		117.2

Basic earnings per common share:
Income (loss) from continuing operations	$	0.33	$	0.21	$	0.47	$	(0.17)
Income (loss) from discontinued operations	—		—		(0.01)		—
Basic net income (loss) attributable to Trinity Industries, Inc.	$	0.33	$	0.21	$	0.46	$	(0.17)
Diluted earnings per common share:
Income (loss) from continuing operations	$	0.33	$	0.21	$	0.46	$	(0.17)
Income (loss) from discontinued operations	—		—		(0.01)		—
Diluted net income (loss) attributable to Trinity Industries, Inc.	$	0.33	$	0.21	$	0.45	$	(0.17)


Potentially dilutive securities excluded from EPS calculation:
Antidilutive restricted shares	0.1		0.3		0.1		—
Antidilutive stock options	—		0.3		—		—