| | | | | | | | | | | | | | | | | | | | | | | | | Three Months Ended | | March 31, 2021 | | June 30, 2021 | | September 30, 2021 | | December 31, 2021 | | (in millions, except per share data) | | Revenues: | | | | | | | | | Manufacturing | $ | 147.4 | | | $ | 108.3 | | | $ | 234.5 | | | $ | 291.2 | | | Leasing | 183.3 | | | 185.0 | | | 185.3 | | | 181.0 | | | 330.7 | | | 293.3 | | | 419.8 | | | 472.2 | | | Operating costs: | | | | | | | | | Costs of revenues: | | | | | | | | | Manufacturing | 149.6 | | | 99.6 | | | 238.8 | | | 281.9 | | | Leasing | 96.7 | | | 102.5 | | | 98.6 | | | 93.8 | | | 246.3 | | | 202.1 | | | 337.4 | | | 375.7 | | | Selling, engineering, and administrative expenses | 44.7 | | | 46.2 | | | 45.8 | | | 42.9 | | | Gains on dispositions of property | 11.5 | | | 12.1 | | | 41.6 | | | 13.0 | | | | | | | | | | | Restructuring activities, net | (0.3) | | | (0.7) | | | (0.1) | | | (2.6) | | | Operating profit | 51.5 | | | 57.8 | | | 78.3 | | | 69.2 | | | Other expense | 52.5 | | | 63.5 | | | 44.5 | | | 41.1 | | | Income (loss) from continuing operations before income taxes | (1.0) | | | (5.7) | | | 33.8 | | | 28.1 | | | Provision (benefit) for income taxes | 4.0 | | | (2.9) | | | 8.3 | | | 6.5 | | | Income (loss) from continuing operations | (5.0) | | | (2.8) | | | 25.5 | | | 21.6 | | | Income (loss) from discontinued operations, net of income taxes | 6.3 | | | 7.6 | | | 10.4 | | | (13.2) | | | Gain on sale of discontinued operations, net of income taxes | — | | | — | | | — | | | 131.4 | | | Net income | 1.3 | | | 4.8 | | | 35.9 | | | 139.8 | | Net income (loss) attributable to noncontrolling interest | (2.0) | | | (7.9) | | | 3.9 | | | 5.8 | | | Net income attributable to Trinity Industries, Inc. | $ | 3.3 | | | $ | 12.7 | | | $ | 32.0 | | | $ | 134.0 | | | | | | | | | | Basic earnings per common share (1): | | | | | | | | | Income (loss) from continuing operations | $ | (0.03) | | | $ | 0.05 | | | $ | 0.22 | | | $ | 0.16 | | | Income from discontinued operations | 0.06 | | | 0.07 | | | 0.11 | | | 1.23 | | | Basic net income attributable to Trinity Industries, Inc. | $ | 0.03 | | | $ | 0.12 | | | $ | 0.33 | | | $ | 1.39 | | Diluted earnings per common share (1): | | | | | | | | | Income (loss) from continuing operations | $ | (0.03) | | | $ | 0.05 | | | $ | 0.22 | | | $ | 0.16 | | | Income from discontinued operations | 0.06 | | | 0.07 | | | 0.11 | | | 1.21 | | | Diluted net income attributable to Trinity Industries, Inc. | $ | 0.03 | | | $ | 0.12 | | | $ | 0.33 | | | $ | 1.37 | |
(1) The sum of the quarters may not necessarily be equal to the full year net income per common share amount. | | | | | | | | | | | | | | | | | | | | | | | | | Three Months Ended | | March 31, 2020 | | June 30, 2020 | | September 30, 2020 | | December 31, 2020 | | (in millions, except per share data) | | Revenues: | | | | | | | | | Manufacturing | $ | 317.2 | | | $ | 247.3 | | | $ | 213.1 | | | $ | 170.6 | | | Leasing | 236.1 | | | 192.6 | | | 183.7 | | | 189.1 | | | 553.3 | | | 439.9 | | | 396.8 | | | 359.7 | | | Operating costs: | | | | | | | | | Costs of revenues: | | | | | | | | | Manufacturing | 301.0 | | | 241.6 | | | 202.5 | | | 164.9 | | | Leasing | 138.6 | | | 102.9 | | | 86.4 | | | 89.5 | | | 439.6 | | | 344.5 | | | 288.9 | | | 254.4 | | | Selling, engineering, and administrative expenses | 50.6 | | | 48.6 | | | 42.9 | | | 47.5 | | | Gains on dispositions of property | 9.6 | | | 6.6 | | | 3.7 | | | 0.1 | | Impairment of long-lived assets (1) | — | | | 369.4 | | | — | | | 27.0 | | | Restructuring activities, net | 5.4 | | | 0.3 | | | 4.7 | | | 0.5 | | | Operating profit (loss) | 67.3 | | | (316.3) | | | 64.0 | | | 30.4 | | Other expense (2) | 58.1 | | | 52.3 | | | 53.7 | | | 205.9 | | | Income (loss) from continuing operations before income taxes | 9.2 | | | (368.6) | | | 10.3 | | | (175.5) | | | Provision (benefit) for income taxes | (149.1) | | | (74.0) | | | (8.7) | | | (42.3) | | | Income (loss) from continuing operations | 158.3 | | | (294.6) | | | 19.0 | | | (133.2) | | | Income from discontinued operations, net of income taxes | 4.0 | | | 6.8 | | | 6.9 | | | 6.6 | | | Net income (loss) | 162.3 | | | (287.8) | | | 25.9 | | | (126.6) | | | Net income (loss) attributable to noncontrolling interest | 0.6 | | | (80.9) | | | 0.8 | | | 0.6 | | | Net income (loss) attributable to Trinity Industries, Inc. | $ | 161.7 | | | $ | (206.9) | | | $ | 25.1 | | | $ | (127.2) | | | | | | | | | | Basic earnings per common share (3): | | | | | | | | | Income (loss) from continuing operations | $ | 1.32 | | | $ | (1.82) | | | $ | 0.15 | | | $ | (1.19) | | | Income from discontinued operations | 0.04 | | | 0.06 | | | 0.06 | | | 0.06 | | | Basic net income (loss) attributable to Trinity Industries, Inc. | $ | 1.36 | | | $ | (1.76) | | | $ | 0.21 | | | $ | (1.13) | | Diluted earnings per common share (3): | | | | | | | | | Income (loss) from continuing operations | $ | 1.30 | | | $ | (1.82) | | | $ | 0.15 | | | $ | (1.19) | | | Income from discontinued operations | 0.03 | | | 0.06 | | | 0.06 | | | 0.06 | | | Diluted net income (loss) attributable to Trinity Industries, Inc. | $ | 1.33 | | | $ | (1.76) | | | $ | 0.21 | | | $ | (1.13) | |
(1) Impairment of long-lived assets during the three months ended June 30, 2020 relates to our small cube covered hopper railcars. See Note 11 for further information. (2) Other expense during the three months ended December 31, 2020 includes $151.5 million related to the settlement of our Pension Plan. See Note 10 for further information. (3) The sum of the quarters may not necessarily be equal to the full year net income per common share amount.
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