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 ("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 the net impact of potentially dilutive common shares. The Company has certain unvested RSAs that participate in dividends on a nonforfeitable basis and are therefore considered to be participating securities. Consequently, diluted net income attributable to Trinity Industries, Inc. per common share is calculated under both the two-class method and the treasury stock method, and the more dilutive of the two calculations is presented.
The following table sets forth the computation of basic and diluted net income attributable to Trinity Industries, Inc. for the three months ended March 31, 2021 and 2020.
 Three Months Ended March 31,
 20212020
(in millions, except per share amounts)
Income from continuing operations$1.7 $162.5 
Less: Net (income) loss attributable to noncontrolling interest2.0 (0.6)
Unvested restricted share participation – continuing operations— (1.9)
Net income from continuing operations attributable to Trinity Industries, Inc.3.7 160.0 
Net loss from discontinued operations, net of income taxes
(0.4)(0.2)
Unvested restricted share participation – discontinued operations— — 
Net loss from discontinued operations attributable to Trinity Industries, Inc.
(0.4)(0.2)
Net income attributable to Trinity Industries, Inc., including the effect of unvested restricted share participation$3.3 $159.8 
Basic weighted average shares outstanding110.2 118.0 
Effect of dilutive securities2.4 1.9 
Diluted weighted average shares outstanding
112.6 119.9 
Basic earnings per common share:
Income from continuing operations$0.03 $1.36 
Income (loss) from discontinued operations— — 
Basic net income attributable to Trinity Industries, Inc.$0.03 $1.36 
Diluted earnings per common share:
Income from continuing operations$0.03 $1.33 
Income (loss) from discontinued operations— — 
Diluted net income attributable to Trinity Industries, Inc.$0.03 $1.33 
Potentially dilutive securities excluded from EPS calculation:
Antidilutive restricted shares0.1 0.1 
Antidilutive stock options— 0.1 

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 2, 2021
Current report, item 1.01 - June 1, 2021
Specialized disclosure report - May 26, 2021
Current report, items 1.01 and 2.03 - May 21, 2021
Trinity Industries's EVP & Chief Commercial Officer just picked up 1,783 shares - May 18, 2021

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