Trinity Industries Just Filed Its Quarterly Report: Earnings Per Common ...

Earnings Per Common Share
Basic net income attributable to Trinity Industries, Inc. per common share 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 net income attributable to Trinity per common share includes 1) the net impa ct of unvested restricted shares and shares that could be issued under outstanding stock options and 2) the incremental shares calculated by dividing the value of the conversion obligation in excess of the Convertible Subordinated Notes' aggregate principal amount by the average price of the Company's common stock during the period. See Note 11 Debt for further explanation of the Company's Convertible Subordinated Notes. Total weighted average restricted shares and antidilutive stock options were 6.2 million shares for the three months ended March 31, 2018 and 2017, respectively.
The computation of basic and diluted net income attributable to Trinity Industries, Inc. follows.     
 
Three Months Ended
March 31, 2018
 
Three Months Ended
March 31, 2017
 
Income
(Loss)
 
Average
Shares
 
EPS
 
Income
(Loss)
 
Average
Shares
 
EPS
 
(in millions, except per share amounts)
Net income attributable to Trinity Industries, Inc.
$
40.2

 
 
 
 
 
$
46.0

 
 
 
 
Unvested restricted share participation
(0.7
)
 
 
 
 
 
(1.2
)
 
 
 
 
Net income attributable to Trinity Industries, Inc. – basic
39.5

 
147.4

 
$
0.27

 
44.8

 
148.7

 
$
0.30

Effect of dilutive securities:
 
 
 
 
 
 
 
 
 
 
 
Nonparticipating unvested restricted shares and stock options

 
0.9

 
 
 

 

 
 
Convertible subordinated notes

 
5.4

 
 
 

 
1.9

 
 
Net income attributable to Trinity Industries, Inc. – diluted
$
39.5

 
153.7

 
$
0.26

 
$
44.8

 
150.6

 
$
0.30

The above information was disclosed in a filing to the SEC. To see the filing, click here.

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Other recent filings from the company include the following:

Annual report of employee stock purchase, savings and similar plans - June 4, 2019
<br/> - May 29, 2019
Trinity Industries insider just disposed of 2,157 shares - May 23, 2019

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