Trinity Industries (TRN) 10-Q1 Aug 242024 Q2 Quarterly reportFinancial data

Company Profile

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
Document and Entity Information - shares	Jun. 30, 2024	Jul. 25, 2024
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2024
Document Transition Report	false
Entity File Number	1-6903
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	75-0225040
Entity Address, Address Line One	14221 N. Dallas Parkway, Suite 1100
Entity Address, City or Town	Dallas,
Entity Address, State or Province	TX
Entity Address, Postal Zip Code	75254-2957
City Area Code	214
Local Phone Number	631-4420
Title of 12(b) Security	Common Stock
Entity Trading Symbol	TRN
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		82,446,816
Entity Registrant Name	TRINITY INDUSTRIES INC
Entity Central Index Key	0000099780
Amendment Flag	false
Document Fiscal Year Focus	2024
Document Fiscal Period	Q2
Current Fiscal Year End Date	--12-31

Consolidated Statements of Oper

Consolidated Statements of Operations (unaudited) - USD ($) shares in Millions, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Revenues [Abstract]
Revenues	$ 841.4	$ 722.4	$ 1,651	$ 1,364.1
Cost of revenues:
Cost of revenues:	662.4	601.2	1,307.3	1,139.7
Selling, engineering, and administrative expenses:
Selling, engineering, and administrative expenses:	61.3	54.3	113.6	104.2
Gains on dispositions of property:
Lease portfolio sales	22.7	29.8	24.8	43.3
Gain (Loss) on Disposition of Other Assets	1.5	0.6	2.2	2.4
Gains on dispositions of property:	24.2	30.4	27	45.7
Restructuring activities, net	0	(1.8)	0	(2.2)
Total operating profit	141.9	99.1	257.1	168.1
Other (income) expense:
Interest expense, net	70.1	66.9	139.2	129
Other Nonoperating Income	(3.4)	1.3	0	2.9
Other (income) expense:	66.7	68.2	139.2	131.9
Income from continuing operations before income taxes	75.2	30.9	117.9	36.2
Current Income Tax Expense (Benefit)	13.8	3.1	26.9	4
Provision (benefit) for deferred income taxes	3.3	4.3	1.2	(8.1)
Provision (benefit) for income taxes	17.1	7.4	28.1	(4.1)
Income from continuing operations	58.1	23.5	89.8	40.3
Loss from discontinued operations, net of benefit for income taxes of $0.5, $0.7, $1.8, and $1.5	(1.7)	(2.3)	(6)	(5.4)
Net income	56.4	21.2	83.8	34.9
Net income attributable to noncontrolling interest	2	4.2	5.7	13.5
Net income attributable to Trinity Industries, Inc.	$ 54.4	$ 17	$ 78.1	$ 21.4
Earnings Per Share [Abstract]
Income (Loss) from Continuing Operations, Per Basic Share	$ 0.68	$ 0.24	$ 1.03	$ 0.33
Income (Loss) from Discontinued Operations and Disposal of Discontinued Operations, Net of Tax, Per Basic Share	(0.02)	(0.03)	(0.07)	(0.07)
Basic net income attributable to Trinity Industries, Inc.	0.66	0.21	0.96	0.26
Income (Loss) from Continuing Operations, Per Diluted Share	0.67	0.23	1.01	0.32
Income (Loss) from Discontinued Operations and Disposal of Discontinued Operations, Net of Tax, Per Diluted Share	(0.02)	(0.03)	(0.07)	(0.06)
Diluted net income attributable to Trinity Industries, Inc.	$ 0.65	$ 0.20	$ 0.94	$ 0.26
Weighted average number of shares outstanding:
Weighted Average Number of Shares Outstanding, Basic	82.4	81.2	81.7	81
Weighted Average Number of Shares Outstanding, Diluted	84.1	83.4	83.4	83.5
Manufacturing
Revenues [Abstract]
Revenues	$ 560.9	$ 454.6	$ 1,086.2	$ 863.6
Cost of revenues:
Cost of revenues:	505.8	434.1	982.1	826
Selling, engineering, and administrative expenses:
Selling, engineering, and administrative expenses:	7.8	7.5	15.5	14.5
Leasing & Services
Revenues [Abstract]
Revenues	280.5	267.8	564.8	500.5
Cost of revenues:
Cost of revenues:	156.6	167.1	325.2	313.7
Selling, engineering, and administrative expenses:
Selling, engineering, and administrative expenses:	20	15.2	38.1	32.1
Corporate & other
Selling, engineering, and administrative expenses:
Selling, engineering, and administrative expenses:	$ 33.5	$ 31.6	$ 60	$ 57.6

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income (unaudited) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Statement of Comprehensive Income [Abstract]
Net income	$ 56.4	$ 21.2	$ 83.8	$ 34.9
Other comprehensive income (loss):
Unrealized gains (losses) arising during the period, net of tax benefit (expense) of $1.7, $(2.7), $(1.7), and $(2.8)	(5.5)	8.9	5.9	9.4
Reclassification adjustments for gains included in net income, net of tax (expense) benefit of $(1.7), $(1.1), $(2.9), and $9.9	(5.4)	(3.9)	(9.3)	(18.8)
Other Comprehensive Income (Loss), Net of Tax, Total	(10.9)	5	(3.4)	(9.4)
Comprehensive income	45.5	26.2	80.4	25.5
Less: comprehensive income attributable to noncontrolling interest	2.1	4.3	5.9	6.2
Comprehensive income attributable to Trinity Industries, Inc.	$ 43.4	$ 21.9	$ 74.5	$ 19.3

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) shares in Millions, $ in Millions	Jun. 30, 2024	Dec. 31, 2023
ASSETS
Cash and cash equivalents	$ 257.1	$ 105.7
Receivables, net of allowance	397.5	363.5
Income tax receivable	4.6	5.2
Inventories:
Raw materials and supplies	391.5	419.4
Work in process	136.2	142.4
Finished goods	89.2	122.5
Inventory, Net	616.9	684.3
Restricted cash, including partially-owned subsidiaries of $29.8 and $30.6	107.1	129.4
Property, plant, and equipment, at cost, including partially-owned subsidiaries of $1,924.6 and $1,922.5	9,593	9,539.6
Less accumulated depreciation, including partially-owned subsidiaries of $669.0 and $644.7	2,650.7	2,534.8
Property, Plant and Equipment, Net	6,942.3	7,004.8
Goodwill	221.5	221.5
Other assets	410.8	392.1
Total assets	8,957.8	8,906.5
Liabilities and Equity [Abstract]
Accounts payable	315.4	305.3
Accrued liabilities	353.9	302.3
Debt:	5,727.4	5,754.2
Deferred income taxes	1,104.2	1,103.5
Other liabilities	152.9	165.7
Total liabilities	$ 7,653.8	$ 7,631
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest [Abstract]
Preferred Stock, Shares Authorized	1.5	1.5
Preferred Stock, Shares Subscribed but Unissued	1.5	1.5
Preferred stock – 1.5 shares authorized and unissued	$ 0	$ 0
Common Stock, Shares Authorized	400	400
Common stock – 400.0 shares authorized	$ 0.8	$ 0.8
Capital in excess of par value	15.9	15.4
Retained earnings	1,042	1,010.5
Accumulated other comprehensive income	7.4	11
Treasury stock	(0.6)	(0.6)
Equity, Attributable to Parent, Total	1,065.5	1,037.1
Noncontrolling interest	238.5	238.4
Total stockholders' equity	1,304	1,275.5
Total liabilities and stockholders' equity	8,957.8	8,906.5
Leasing & Services
Inventories:
Goodwill	50.6	50.6
Recourse
Liabilities and Equity [Abstract]
Debt:	597.5	794.6
Nonrecourse
Liabilities and Equity [Abstract]
Debt:	5,129.9	4,959.6
Wholly-owned subsidiaries \| Nonrecourse
Liabilities and Equity [Abstract]
Debt:	4,019.6	3,819.2
Wholly-owned subsidiaries \| Nonrecourse \| Leasing & Services
Liabilities and Equity [Abstract]
Debt:	4,019.6	3,819.2
Partially-owned subsidiaries \| Leasing & Services
Inventories:
Restricted cash, including partially-owned subsidiaries of $29.8 and $30.6	29.8	30.6
Property, plant, and equipment, at cost, including partially-owned subsidiaries of $1,924.6 and $1,922.5	1,924.6	1,922.5
Less accumulated depreciation, including partially-owned subsidiaries of $669.0 and $644.7	669	644.7
Partially-owned subsidiaries \| Nonrecourse
Liabilities and Equity [Abstract]
Debt:	1,110.3	1,140.4
Partially-owned subsidiaries \| Nonrecourse \| Leasing & Services
Liabilities and Equity [Abstract]
Debt:	$ 1,110.3	$ 1,140.4

Consolidated Statements of Cash

Consolidated Statements of Cash Flows (unaudited) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Operating activities:
Net income	$ 83.8	$ 34.9
Loss from discontinued operations, net of benefit for income taxes of $0.5, $0.7, $1.8, and $1.5	(6)	(5.4)
Adjustments to Reconcile Net Income (Loss) to Cash Provided by (Used in) Operating Activities [Abstract]
Depreciation and amortization	147.2	146.8
Stock-based compensation expense	10.6	12.7
Provision (benefit) for deferred income taxes	1.2	(8.1)
Net gains on lease portfolio sales, excluding sales-type leases	(24.8)	(43.3)
Gains on dispositions of property and other assets	(2.2)	(1.2)
Gains on insurance recoveries from property damage	0	(1.2)
Non-cash impact of restructuring activities	0	(2.2)
Non-cash interest expense	6.7	5.7
Loss on extinguishment of debt	1.5	0
Other	0.2	(3)
Changes in operating assets and liabilities:
(Increase) decrease in receivables	(32.8)	(84.4)
(Increase) decrease in inventories	67.4	7.2
(Increase) decrease in other assets	2.5	3.5
Increase (decrease) in accounts payable	10.1	27.6
Increase (decrease) in accrued liabilities	21.1	38
Increase (decrease) in other liabilities	1.2	1.9
Net cash provided by operating activities – continuing operations	299.7	140.3
Net cash used in operating activities – discontinued operations	(6)	(5.4)
Net cash provided by operating activities	293.7	134.9
Investing activities:
Proceeds from dispositions of property and other assets	8	8.4
Lease portfolio sales	186.7	185.7
Capital expenditures – lease fleet	232.7	399.7
Capital expenditures – operating and administrative	(15.9)	(20.8)
Acquisitions, net of cash acquired	0	(65.8)
Proceeds from insurance recoveries	0	1.2
Equity investments	2	1.1
Net cash used in investing activities	(55.9)	(292.1)
Financing activities:
Payments to retire debt	(1,759.9)	(1,035.3)
Proceeds from Debt, Net of Issuance Costs	1,722.2	1,253.9
Payments to settle contingent consideration liability	(8)	0
Payments for Repurchase of Common Stock	(0.9)	0
Dividends paid to common shareholders	(47.2)	(43.3)
Purchase of shares to satisfy employee tax on vested stock	(9.1)	(6.8)
Distributions to noncontrolling interest	(5.8)	(9)
Net cash provided by (used in) financing activities	(108.7)	159.5
Net increase in cash, cash equivalents, and restricted cash	129.1	2.3
Cash, cash equivalents, and restricted cash at beginning of period	235.1	294.3
Cash, cash equivalents, and restricted cash at end of period	$ 364.2	$ 296.6

Consolidated Statement of Stock

Consolidated Statement of Stockholders' Equity (unaudited) - USD ($) shares in Millions, $ in Millions		Total	Trinity Stockholders’ Equity	Common Stock	Capital in Excess of Par Value	Retained Earnings	Accumulated other comprehensive income (loss)	Treasury Stock	Noncontrolling Interest
$0.01 Par Value		$ 0.01
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Common Stock, Shares, Issued				(81.1)				0
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest, Beginning Balance at Dec. 31, 2022		$ 1,269.6	$ 1,012.4	$ 0.8	$ 0	$ 992.6	$ 19.7	$ (0.7)	$ 257.2
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income		13.7	4.4			4.4			9.3
Other comprehensive income		(14.4)	(7)				(7)		(7.4)
Cash dividends declared on common stock (1)	[1]	(21.4)	(21.4)			(21.4)
Distributions to noncontrolling interest		(2.9)							(2.9)
Stock-based compensation expense		6.2	6.2		6.2
Settlement of share-based awards, net		(0.4)	(0.4)		0.4			(0.8)
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest, Ending Balance at Mar. 31, 2023		$ 1,250.4	994.2	0.8	6.6	975.6	12.7	(1.5)	256.2
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Common Stock, Dividends, Per Share, Declared		$ 0.26
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest, Beginning Balance at Dec. 31, 2022		$ 1,269.6	1,012.4	0.8	0	992.6	19.7	(0.7)	257.2
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income		34.9
Other comprehensive income		(9.4)
Stock-based compensation expense		12.7
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest, Ending Balance at Jun. 30, 2023		$ 1,249	994.6	$ 0.8	5.9	971	17.6	$ (0.7)	254.4
$0.01 Par Value		$ 0.01
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Common Stock, Shares, Issued				(81.1)				0
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest, Beginning Balance at Mar. 31, 2023		$ 1,250.4	994.2	$ 0.8	6.6	975.6	12.7	$ (1.5)	256.2
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income		21.2	17			17			4.2
Other comprehensive income		5	4.9				4.9		0.1
Cash dividends declared on common stock (1)	[1]	(21.6)	(21.6)			(21.6)
Distributions to noncontrolling interest		(6.1)							(6.1)
Stock-based compensation expense		6.5	6.5		6.5
Restricted shares, net, (in shares)				(1)				(0.3)
Settlement of share-based awards, net		(6.4)	(6.4)					$ (6.4)
Treasury Stock, Shares, Retired				(0.3)				(0.3)
Retirement of treasury stock		0	0		(7.2)			$ (7.2)
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest, Ending Balance at Jun. 30, 2023		$ 1,249	994.6	$ 0.8	5.9	971	17.6	$ (0.7)	254.4
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Common Stock, Dividends, Per Share, Declared		$ 0.26
$0.01 Par Value		0.01
Common Stock, Shares, Issued				(81.8)				0
$0.01 Par Value		$ 0.01
Common Stock, Shares, Issued				(81.8)				0
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest, Beginning Balance at Dec. 31, 2023		$ 1,275.5	1,037.1	$ 0.8	15.4	1,010.5	11	$ (0.6)	238.4
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income		27.4	23.7			23.7			3.7
Other comprehensive income		7.5	7.4				7.4		0.1
Cash dividends declared on common stock (1)	[2]	(23.3)	(23.3)			(23.3)
Distributions to noncontrolling interest		(3)							(3)
Stock-based compensation expense		4.7	4.7		4.7
Settlement of share-based awards, net		(0.3)	(0.3)		0.1			(0.4)
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest, Ending Balance at Mar. 31, 2024		$ 1,288.5	1,049.3	0.8	20.2	1,010.9	18.4	(1)	239.2
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Common Stock, Dividends, Per Share, Declared		$ 0.28
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest, Beginning Balance at Dec. 31, 2023		$ 1,275.5	1,037.1	0.8	15.4	1,010.5	11	(0.6)	238.4
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income		83.8
Other comprehensive income		(3.4)							0.2
Stock-based compensation expense		10.6
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest, Ending Balance at Jun. 30, 2024		$ 1,304	1,065.5	$ 0.8	15.9	1,042	7.4	$ (0.6)	238.5
$0.01 Par Value		$ 0.01
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Common Stock, Shares, Issued				(81.8)				0
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest, Beginning Balance at Mar. 31, 2024		$ 1,288.5	1,049.3	$ 0.8	20.2	1,010.9	18.4	$ (1)	239.2
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income		56.4	54.4			54.4			2
Other comprehensive income		(10.9)	(11)				(11)		0.1
Cash dividends declared on common stock (1)	[2]	(23.3)	(23.3)			(23.3)
Distributions to noncontrolling interest		(2.8)							(2.8)
Stock-based compensation expense		5.9	5.9		5.9
Restricted shares, net, (in shares)				(0.9)				(0.3)
Settlement of share-based awards, net		(8.9)	(8.9)		0.2			$ (9.1)
Shares repurchased								0
Shares repurchased		(0.9)	(0.9)					$ (0.9)
Treasury Stock, Shares, Retired				(0.3)				(0.3)
Retirement of treasury stock		0	0		(10.4)			$ (10.4)
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest, Ending Balance at Jun. 30, 2024		$ 1,304	$ 1,065.5	$ 0.8	$ 15.9	$ 1,042	$ 7.4	$ (0.6)	$ 238.5
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Common Stock, Dividends, Per Share, Declared		$ 0.28
$0.01 Par Value		$ 0.01
Common Stock, Shares, Issued				(82.4)				0

[1]Dividends of $0.26 per common share for for all periods presented in 2023[2]Dividends of $0.28 per common share for all periods presented in 2024.

Consolidated Statements of Op_2

Consolidated Statements of Operations Parenthetical - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Discontinued Operation, Tax Effect of Discontinued Operation			$ (1.8)	$ (1.5)
Sale of Highway Products
Discontinued Operation, Tax Effect of Discontinued Operation	$ (0.5)	$ (0.7)

Consolidated Statements of Co_2

Consolidated Statements of Comprehensive Income Parenthetical - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Statement of Comprehensive Income [Abstract]
Other Comprehensive Income (Loss), Unrealized Gain (Loss) on Derivatives Arising During Period, Tax	$ 1.7	$ (2.7)	$ (1.7)	$ (2.8)
Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI on Derivatives, Tax	$ 1.7	$ 1.1	$ 2.9	$ (9.9)

Acquisitions and Discontinued O

Acquisitions and Discontinued Operations	6 Months Ended
Acquisitions and Discontinued Operations	Jun. 30, 2024
Acquisitions and Discontinued Operations [Abstract]
Business Combination Disclosure	Acquisitions Acquisition of Holden America In December 2022, we acquired Holden America, a manufacturer of market-leading multi-level vehicle securement and protection systems, gravity-outlet gates, and gate accessories for freight rail in North America. The purchase agreement included minimum additional consideration of $10.0 million, which is payable in installments of $5.0 million per year in each of 2024 and 2025. The purchase agreement also contained a provision whereby additional consideration could become payable based on the achievement of certain revenue targets, up to a maximum payout of $10.0 million. The total additional consideration, which is included in other liabilities in our Consolidated Balance Sheets, had an estimated fair value of $20.0 million as of December 31, 2023 and is remeasured at each reporting period using Level 3 inputs. During the six months ended June 30, 2024, the first installment of the additional consideration, totaling $10.0 million, was paid. This payment is reflected in our Consolidated Statements of Cash Flows, of which $8.0 million related to the initial estimated fair value is included in financing activities, and $2.0 million related to the remeasurement of the initial estimated fair value is included in operating activities. As of June 30, 2024, the estimated fair value of the remaining additional consideration was $10.0 million. Acquisition of RSI Logistics In March 2023, we acquired RSI Logistics ("RSI"), a data-centric provider of proprietary software and logistics and terminal management solutions to the North American rail industry. This transaction was recorded as a business combination within the Leasing Group, based on valuations of the acquired assets and liabilities at their acquisition date fair value using Level 3 inputs. Based on our purchase price allocation, we recorded identifiable intangible assets of $35.7 million, goodwill of $25.6 million, and certain other immaterial assets and liabilities. The identifiable intangible assets, with the exception of the trade name, which is considered an indefinite-lived intangible asset, are being amortized over their estimated useful lives, ranging from 5 years to 15 years.
Disposal Groups, Including Discontinued Operations, Disclosure	Discontinued Operations Sale of Highway Products Business In the fourth quarter of 2021, we completed the sale of Trinity Highway Products, LLC (“THP”). Upon completion of the sale, the accounting requirements for reporting THP as a discontinued operation were met. In connection with the sale, the Company agreed to indemnify Rush Hour for certain liabilities related to the highway products business, including certain liabilities resulting from or arising out of the ET-Plus® System, a highway guardrail end-terminal system (the “ET Plus”). Consequently, results from discontinued operations include certain legal expenses that are directly attributable to the highway products business. Similar expenses related to these retained obligations that may be incurred in the future will likewise be reported in discontinued operations. For the three and six months ended June 30, 2024, we recorded expenses related to these obligations of $2.2 million ($1.7 million, net of income taxes) and $7.8 million ($6.0 million, net of income taxes), respectively. For the three and six months ended June 30, 2023, we recorded expenses related to these obligations of $3.0 million ($2.3 million, net of income taxes) and $6.9 million ($5.4 million, net of income taxes), respectively. These expenses are included in loss from discontinued operations, net of income taxes in our Consolidated Statements of Operations. See Note 14 for further information regarding obligations retained in connection with the THP sale.

Derivative Instruments and Fair

Derivative Instruments and Fair Value Accounting	6 Months Ended
Derivative Instruments and Fair Value Accounting	Jun. 30, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative Instruments and Hedging Activities Disclosure [Text Block]	Derivative Instruments We use derivative instruments to mitigate interest rate risk, including risks associated with the impact of changes in interest rates in anticipation of future debt issuances and to offset interest rate variability of certain floating rate debt issuances outstanding. We also use derivative instruments to mitigate the impact of changes in foreign currency exchange rates. Derivative instruments that are designated and qualify as cash flow hedges are accounted for by recording the effective portion of the gain or loss on the derivative instrument in accumulated other comprehensive income or loss ("AOCI") as a separate component of stockholders' equity. These accumulated gains or losses are reclassified into earnings in the periods during which the hedged transactions affect earnings. Derivative instruments that are not designated as hedges are accounted for by recording the realized and unrealized gains or losses on the derivative instrument in other, net (income) expense in our Consolidated Statements of Operations. We continuously monitor our derivative positions and the credit ratings of our counterparties and do not anticipate losses due to non-performance. See Note 8 for a description of our debt instruments. Derivatives Designated as Hedging Instruments Interest Rate Hedges Included in accompanying balance sheet at June 30, 2024 AOCI – loss/(income) Notional Amount Interest Rate (1) Asset/(Liability) Controlling Interest Noncontrolling Interest ($ in millions) Expired hedges: 2018 secured railcar equipment notes $ 249.3 4.41 % $ — $ 0.2 $ — Tribute Rail secured railcar equipment notes $ 256.0 2.86 % $ — $ 0.3 $ 0.4 2017 promissory notes – interest rate cap $ 169.3 3.00 % $ — $ (0.1) $ — Open hedges: 2017 promissory notes – interest rate swap $ 394.7 2.31 % $ 12.7 $ (12.3) $ — TRL-2023 term loan $ 263.2 3.79 % $ 2.9 $ (2.8) $ — (1) Weighted average fixed interest rate, except for the interest rate cap on the 2017 promissory notes. Effect on interest expense – increase/(decrease) Three Months Ended Six Months Ended Expected effect during next twelve months 2024 2023 2024 2023 (in millions) Expired hedges: 2018 secured railcar equipment notes $ 0.1 $ 0.1 $ 0.1 $ 0.1 $ 0.2 TRIP Holdings warehouse loan $ — $ — $ — $ 0.1 $ — Tribute Rail secured railcar equipment notes $ 0.1 $ 0.2 $ 0.3 $ 0.4 $ 0.7 2017 promissory notes – interest rate cap $ — $ — $ — $ — $ (0.1) Open hedges (1) : 2017 promissory notes – interest rate swap $ (3.0) $ (2.9) $ (6.1) $ (5.4) $ (12.2) TRL-2023 term loan $ (1.1) $ (0.2) $ (2.1) $ (0.2) $ (2.9) (1) Based on the fair value of open hedges as of June 30, 2024. Foreign Currency Hedges Our exposure related to foreign currency transactions is currently hedged for up to a maximum of eighteen months. Information related to our foreign currency hedges is as follows: Included in accompanying balance sheet at June 30, 2024 Effect on cost of revenues – Notional Asset/ (Liability) AOCI – Three Months Ended Six Months Ended Expected effect during next twelve months (1) Instrument 2024 2023 2024 2023 (in millions) Forward contracts $ 128.3 $ (4.5) $ 3.3 $ (3.1) $ (2.2) $ (4.6) $ (3.9) $ 3.0 Options (2) $ — $ — $ 0.1 $ (0.1) $ — $ 0.2 $ — $ 0.1 (1) Based on the fair value of open hedges as of June 30, 2024. (2) The foreign currency options matured in June 2024. Derivatives Not Designated as Hedging Instruments (1) Asset/(Liability) at June 30, 2024 Effect on other, net (income) expense – Notional Interest Three Months Ended Six Months Ended 2024 2023 2024 2023 ($ in millions) Interest rate derivatives – open: TILC warehouse facility – interest rate cap $ 680.0 2.50 % $ 35.5 $ (4.4) $ — $ (3.7) $ — TILC – interest rate cap (2) $ 680.0 2.50 % $ (35.5) $ 4.4 $ — $ 6.8 $ — Interest rate derivatives – expired (3) : TILC warehouse facility – interest rate cap $ 800.0 2.50 % $ — $ 0.9 $ (4.3) $ 1.9 $ (5.2) TILC – interest rate cap $ 800.0 2.50 % $ — $ (0.9) $ 4.3 $ (1.9) $ 5.2 (1) Comprised of back-to-back interest rate caps entered into with the same counterparty in connection with our risk management objectives. (2) The amount recorded to other, net (income) expense in our Consolidated Statements of Operations for the six months ended June 30, 2024 includes a fee of $3.1 million related to the execution of back-to-back interest rate caps associated with the new TILC warehouse loan facility. See Note 8 for further information. (3) These interest rate caps matured in March 2024 and were settled in April 2024.
Fair Value Disclosures [Abstract]
Fair Value Accounting	Fair Value Measurements Fair value is defined as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for that asset or liability in an orderly transaction between market participants on the measurement date. An entity is required to establish a fair value hierarchy that maximizes the use of observable inputs and minimizes the use of unobservable inputs when measuring fair value. The three levels of inputs that may be used to measure fair value are listed below. Level 1 – This level is defined as quoted prices in active markets for identical assets or liabilities. Our cash equivalents and restricted cash are instruments of the U.S. Treasury or highly-rated money market mutual funds. The assets measured on a recurring basis as Level 1 in the fair value hierarchy are summarized below: Level 1 June 30, 2024 December 31, 2023 (in millions) Assets: Cash equivalents $ 124.2 $ 78.7 Restricted cash 107.1 129.4 Total assets $ 231.3 $ 208.1 Level 2 – This level is defined as observable inputs other than Level 1 prices such as quoted prices for similar assets or liabilities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities. Interest rate swaps and interest rate caps are valued at exit prices obtained from each counterparty. Foreign currency hedges are valued at exit prices obtained from each counterparty, which are based on currency spot and forward rates and forward points. The assets and liabilities measured on a recurring basis as Level 2 in the fair value hierarchy are summarized below: Level 2 June 30, 2024 December 31, 2023 (in millions) Assets (1) : Derivatives designated as hedging instruments: Interest rate hedges $ 15.6 $ 13.1 Foreign currency forward contracts — 5.8 Foreign currency options — 1.0 Derivatives not designated as hedging instruments: TILC warehouse facility – interest rate caps 35.5 6.6 Total assets $ 51.1 $ 26.5 Liabilities (2) : Derivatives designated as hedging instruments: Interest rate hedges $ — $ 2.5 Foreign currency foreign contracts 4.5 — Derivatives not designated as hedging instruments: TILC – interest rate caps 35.5 6.6 Total liabilities $ 40.0 $ 9.1 (1) Included in other assets in our Consolidated Balance Sheets. (2) Included in accrued liabilities in our Consolidated Balance Sheets. Level 3 – This level is defined as unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities. As of June 30, 2024 and December 31, 2023, we have no assets or liabilities measured on a recurring basis as Level 3 in the fair value hierarchy, except as described in Note 2. See Note 2 for more information regarding fair value measurements involving Level 3 inputs resulting from acquisition activity. See Note 8 for the estimated fair values of our debt instruments. The fair values of all other financial instruments are estimated to approximate carrying value.

Segment Information

Segment Information	6 Months Ended
Segment Information	Jun. 30, 2024
Segment Reporting [Abstract]
Segment Information	Segment Information We report our operating results in two reportable segments: (1) the Railcar Leasing and Services Group, which owns and operates a fleet of railcars and provides third-party fleet leasing, management, and administrative services; railcar maintenance and modification services; and other railcar logistics products and services; and (2) the Rail Products Group, which manufactures and sells railcars and related parts and components. Effective January 1, 2024, the Company modified its organizational structure to better leverage our maintenance services capabilities to support lease fleet optimization and to grow our services and parts businesses. The new structure resulted in a change to our reportable segments beginning in 2024. In connection with this organizational update, we aligned the maintenance services business, which was previously reported in the Rail Products Group, to now be presented within our leasing business. This change aligns with the way in which our CODM assesses performance and allocates resources. Consequently, beginning January 1, 2024, we report our operating results in two reportable segments: (1) the Railcar Leasing and Services Group, formerly the Railcar Leasing and Management Services Group, and (2) the Rail Products Group. These changes had no impact to our previously reported consolidated results of operations, financial position, or cash flows. All prior period segment results set forth herein have been recast to reflect these changes and present results on a comparable basis. Gains and losses from the sale of property, plant, and equipment are included in the operating profit of each respective segment. Our CODM regularly reviews the operating results of our reportable segments in order to assess performance and allocate resources. Our CODM does not consider restructuring activities when evaluating segment operating results; therefore, restructuring activities are not allocated to segment profit or loss. Sales and related net profits ("deferred profit") from the Rail Products Group to the Leasing Group are recorded in the Rail Products Group and eliminated in consolidation. Sales between these groups are recorded at prices comparable to those charged to external customers, taking into consideration quantity, features, and production demand. Amortization of deferred profit on railcars sold to the Leasing Group is included in the operating profit of the Leasing Group, resulting in the recognition of depreciation expense based on our original manufacturing cost of the railcars. Lease portfolio sales are included in the Leasing Group, with related gains and losses computed based on the net book value of the original manufacturing cost of the railcars. The financial information for these segments is shown in the tables below (in millions). We operate principally in North America. Three Months Ended June 30, 2024 Railcar Leasing and Services Group Rail Products Group Eliminations Consolidated Total External revenue $ 280.5 $ 560.9 $ — $ 841.4 Intersegment revenue 0.9 73.3 (74.2) — Total revenues $ 281.4 $ 634.2 $ (74.2) $ 841.4 Three Months Ended June 30, 2023 Railcar Leasing and Services Group Rail Products Group Eliminations Consolidated Total External revenue $ 267.8 $ 454.6 $ — $ 722.4 Intersegment revenue 0.5 200.8 (201.3) — Total revenues $ 268.3 $ 655.4 $ (201.3) $ 722.4 Six Months Ended June 30, 2024 Railcar Leasing and Services Group Rail Products Group Eliminations Consolidated Total External revenue $ 564.8 $ 1,086.2 $ — $ 1,651.0 Intersegment revenue 1.8 215.4 (217.2) — Total revenues $ 566.6 $ 1,301.6 $ (217.2) $ 1,651.0 Six Months Ended June 30, 2023 Railcar Leasing and Services Group Rail Products Group Eliminations Consolidated Total External revenue $ 500.5 $ 863.6 $ — $ 1,364.1 Intersegment revenue 0.7 379.4 (380.1) — Total revenues $ 501.2 $ 1,243.0 $ (380.1) $ 1,364.1 The reconciliation of segment operating profit to consolidated net income is as follows: Three Months Ended Six Months Ended 2024 2023 2024 2023 (in millions) Operating profit: Railcar Leasing and Services Group $ 128.0 $ 116.1 $ 228.3 $ 200.7 Rail Products Group 50.4 24.3 94.2 48.4 Segment Totals 178.4 140.4 322.5 249.1 Corporate and other (33.3) (31.6) (59.8) (57.6) Restructuring activities, net — 1.8 — 2.2 Eliminations (3.2) (11.5) (5.6) (25.6) Consolidated operating profit 141.9 99.1 257.1 168.1 Other (income) expense 66.7 68.2 139.2 131.9 Provision (benefit) for income taxes 17.1 7.4 28.1 (4.1) Loss from discontinued operations, net of income taxes (1.7) (2.3) (6.0) (5.4) Net income $ 56.4 $ 21.2 $ 83.8 $ 34.9

Partially-Owned Subsidiaries

Partially-Owned Subsidiaries	6 Months Ended
Partially-Owned Subsidiaries	Jun. 30, 2024
Noncontrolling Interest [Abstract]
Partially-Owned Leasing Subsidiaries	Partially-Owned Subsidiaries Investments in Leasing Subsidiaries Through our wholly-owned subsidiary, TILC, we formed two subsidiaries, TRIP Holdings and RIV 2013, for the purpose of providing railcar leasing services in North America for institutional investors. Each of TRIP Holdings and RIV 2013 are direct, partially-owned subsidiaries of TILC in which we have a controlling interest. Each is governed by a seven-member board of representatives, two of whom are designated by TILC. TILC is the agent of each of TRIP Holdings and RIV 2013 and, as such, has been delegated the authority, power, and discretion to take certain actions on behalf of the respective companies. At June 30, 2024, the carrying value of our investment in TRIP Holdings and RIV 2013 totaled $123.9 million. Our weighted average ownership interest in TRIP Holdings and RIV 2013 is 38% while the remaining 62% weighted average interest is owned by third-party, investor-owned funds. The investment in our partially-owned leasing subsidiaries is eliminated in consolidation. Each of TRIP Holdings and RIV 2013 has wholly-owned subsidiaries that are the owners of railcars acquired from our Rail Products and Leasing Groups. TRIP Holdings has wholly-owned subsidiaries known as Triumph Rail LLC ("Triumph Rail") and Tribute Rail LLC ("Tribute Rail"). RIV 2013 has a wholly-owned subsidiary known as TRP 2021 LLC ("TRP-2021"). TILC is the contractual servicer for Triumph Rail, Tribute Rail, and TRP-2021, with the authority to manage and service each entity's owned railcars. Our controlling interest in each of TRIP Holdings and RIV 2013 results from our combined role as both equity member and agent/servicer. The noncontrolling interest included in the accompanying Consolidated Balance Sheets primarily represents the non-Trinity equity interest in these partially-owned subsidiaries. Trinity has no obligation to guarantee performance under any of our partially-owned subsidiaries' (or their respective subsidiaries') debt agreements, guarantee any railcar residual values, shield any parties from losses or guarantee minimum yields. The assets of each of Triumph Rail, Tribute Rail, and TRP-2021 may only be used to satisfy the particular subsidiary's liabilities, and the creditors of each of Triumph Rail, Tribute Rail, and TRP-2021 have recourse only to the particular subsidiary's assets. Each of TILC and the third-party equity investors receive distributions from TRIP Holdings and RIV 2013, when available, in proportion to its respective equity interests, and has an interest in the net assets of the partially-owned subsidiaries upon a liquidation event in the same proportion. TILC is paid fees for the services it provides to Triumph Rail, Tribute Rail, and TRP-2021 and has the potential to earn certain incentive fees. There are no remaining equity commitments with respect to TRIP Holdings or RIV 2013. See Note 8 for additional information regarding the debt of TRIP Holdings and RIV 2013 and their respective subsidiaries. Other Investment in Consolidated Affiliate In 2023, the Company and a third party formed Trinity Global Ventures to deliver railcars and provide warranty support services in Saudi Arabia. Trinity Global Ventures is owned 51.0% by Trinity Rail Group, LLC ("Trinity Rail Group"), a wholly-owned subsidiary of the Company, and 49.0% by the third party. Upon consideration under the variable interest entity (“VIE”) model of ASC 810, Consolidation , Trinity has concluded that Trinity Global Ventures meets the definition of a VIE. Trinity Rail Group has a variable interest in Trinity Global Ventures arising from its 51.0% equity ownership position. We determined that Trinity is the primary beneficiary and therefore consolidates this entity as we have the power to direct the activities of the entity that most significantly impact its economic performance. At June 30, 2024, the carrying value of our investment in Trinity Global Ventures totaled $2.6 million, which is eliminated in consolidation. Investment in Unconsolidated Affiliate In 2021, the Company and Wafra, Inc. (“Wafra”), a global alternative investment manager, entered into a railcar investment vehicle program between Trinity and certain funds managed by Wafra (“Wafra Funds”). As part of this program, a joint venture was formed, Signal Rail Holdings LLC (“Signal Rail”), which is currently owned 87.3% by Wafra Funds and 12.7% by TILC. TILC services all railcars owned by Signal Rail. In May 2024, TILC and certain of its subsidiaries sold a portfolio comprised of 1,315 railcars and related leases to Signal Rail for an aggregate sales price of approximately $142.8 million. During the three and six months ended June 30, 2024, TILC recognized a gain of approximately $18.8 million on the sale and approximately $1.4 million was recognized as revenue for services performed associated with the delivery of railcars with attached leases. In connection with the sale, TILC contributed $2.0 million of cash to Signal Rail, resulting in a change to TILC's weighted average equity ownership in Signal Rail to 12.7%. Signal Rail financed the May 2024 purchase primarily through an asset-backed securitization. To date, TILC has sold 7,775 railcars and related leases to Signal Rail for an aggregate sales price of $741.4 million. Upon consideration under the VIE model of ASC 810, Consolidation , Trinity has concluded that Signal Rail meets the definition of a VIE. TILC has variable interests in Signal Rail arising from its 12.7% equity ownership position and its role as a service provider. We determined that Trinity is not the primary beneficiary and therefore does not consolidate this entity as we do not have the power to direct the activities of the entity that most significantly impact its economic performance. We will absorb portions of Signal Rail’s expected losses and/or receive portions of expected residual returns commensurate with our 12.7% equity interest in Signal Rail. Our investment in Signal Rail is being accounted for under the equity method of accounting. At June 30, 2024, the carrying value of TILC’s equity investment in Signal Rail was $21.8 million, which is included in other assets in our Consolidated Balance Sheets. The carrying value of this investment represents our maximum exposure in Signal Rail.

Railcar Leasing and Services Gr

Railcar Leasing and Services Group	6 Months Ended
Railcar Leasing and Services Group	Jun. 30, 2024
Leases [Abstract]
Leasing Operations Of The Company [Text Block]	Railcar Leasing and Services Group The Railcar Leasing and Services Group owns and operates a fleet of railcars and provides third-party fleet leasing, management, and administrative services; railcar maintenance and modification services; and other railcar logistics products and services. Information related to the Leasing Group is as follows: Three Months Ended June 30, Six Months Ended June 30, 2024 2023 Percent 2024 2023 Percent ($ in millions) Change ($ in millions) Change Revenues: Leasing and management $ 221.9 $ 203.8 8.9 % $ 430.9 $ 398.5 8.1 % Maintenance services (1) 49.0 45.1 8.6 % 114.2 74.5 53.3 % Digital and logistics services 10.5 19.4 (45.9) % 21.5 28.2 (23.8) % Total revenues $ 281.4 $ 268.3 4.9 % $ 566.6 $ 501.2 13.0 % Cost of revenues (2) $ 157.4 $ 167.6 (6.1) % 327.0 314.4 4.0 % Selling, engineering, and administrative expenses 20.0 15.2 31.6 % 38.1 32.1 18.7 % Gains on dispositions of property: Lease portfolio sales 22.7 29.8 * 24.8 43.3 * Other 1.3 0.8 * 2.0 2.7 * Total operating profit $ 128.0 $ 116.1 10.2 % $ 228.3 $ 200.7 13.8 % Total operating profit margin 45.5 % 43.3 % 40.3 % 40.0 % Total operating profit margin, excluding lease portfolio sales 37.4 % 32.2 % 35.9 % 31.4 % Selected expense information for Company-owned railcars (3) : Depreciation and amortization expense (4) $ 60.1 $ 59.2 1.5 % $ 120.0 $ 120.8 (0.7) % Maintenance and compliance expense (5) $ 35.0 $ 32.8 6.7 % $ 65.4 $ 67.6 (3.3) % Other fleet operating costs (6) $ 8.1 $ 8.2 (1.2) % $ 15.8 $ 17.4 (9.2) % Interest expense (7) $ 60.4 $ 57.0 6.0 % $ 117.8 $ 111.8 5.4 % * Not meaningful (1) Revenues related to services performed by the maintenance services business to support the railcars in our lease fleet are eliminated within the Railcar Leasing & Services Group and are excluded from the totals reported on this line. (2) Includes depreciation and amortization expense, maintenance and compliance expense, and other fleet operating costs related to our lease fleet, as well as operating costs for our maintenance services and digital and logistics services businesses. (3) Includes wholly-owned railcars, partially-owned railcars, and railcars under leased-in arrangements. (4) Depreciation and amortization expense includes $0.8 million and $5.5 million for the three and six months ended June 30, 2023, respectively, related to the disposal of certain railcar components associated with our sustainable railcar conversion program. Additionally, amortization of deferred profit on railcars sold from the Rail Products Group to the Leasing Group is included in depreciation and amortization expense, resulting in the recognition of depreciation expense based on our original manufacturing cost of the railcars. (5) Maintenance and compliance expense is reported at cost with respect to the services performed by our maintenance services business to support the railcars in our lease fleet. (6) Other fleet operating costs include freight, storage, rent, and ad valorem taxes. (7) Interest expense is not a component of operating profit and includes the effect of hedges. Information related to lease portfolio sales is as follows: Three Months Ended Six Months Ended 2024 2023 2024 2023 ($ in millions) Lease portfolio sales $ 162.5 $ 129.0 $ 186.7 $ 185.7 Operating profit on lease portfolio sales $ 22.7 $ 29.8 $ 24.8 $ 43.3 Operating profit margin on lease portfolio sales 14.0 % 23.1 % 13.3 % 23.3 % Railcar Leasing Equipment Portfolio. The Leasing Group's equipment consists primarily of railcars leased by third parties. The Leasing Group purchases equipment manufactured predominantly by the Rail Products Group and enters into lease contracts with third parties with terms generally ranging between one year and ten years. The Leasing Group primarily enters into operating leases. Future contractual minimum rental revenues on operating leases related to our wholly-owned and partially-owned subsidiaries are as follows: Remaining six months of 2024 2025 2026 2027 2028 Thereafter Total (in millions) Future contractual minimum rental revenues $ 357.1 $ 613.8 $ 495.8 $ 375.6 $ 235.4 $ 344.2 $ 2,421.9 Debt. Wholly-owned subsidiaries. The Leasing Group’s debt at June 30, 2024 consisted primarily of non-recourse debt. As of June 30, 2024, Trinity’s wholly-owned subsidiaries included in the Leasing Group held equipment with a net book value of $5,592.5 million, which is pledged solely as collateral for Leasing Group debt held by those subsidiaries. The net book value of unpledged equipment at June 30, 2024 was $291.7 million. See Note 8 for more information regarding the Leasing Group’s debt. Partially-owned subsidiaries. Debt owed by TRIP Holdings and RIV 2013 and their respective subsidiaries is non-recourse to Trinity and TILC. Creditors of each of TRIP Holdings and RIV 2013 and their respective subsidiaries have recourse only to the particular subsidiary's assets. As of June 30, 2024, TRIP Holdings held equipment with a net book value of $1,026.2 million, which is pledged solely as collateral for the TRIP Holdings' debt held by its subsidiaries. As of June 30, 2024, TRP-2021 equipment with a net book value of $420.6 million is pledged solely as collateral for the TRP-2021 debt. See Note 5 for a description of TRIP Holdings and RIV 2013 and their respective subsidiaries. Operating Lease Obligations. Future amounts due as well as future contractual minimum rental revenues related to the Leasing Group's railcar operating lease obligations are as follows: Remaining six months of 2024 2025 2026 2027 2028 Thereafter Total (in millions) Future operating lease obligations $ 4.4 $ 8.3 $ 7.7 $ 7.2 $ 5.1 $ 6.8 $ 39.5 Future contractual minimum rental revenues $ 5.8 $ 9.7 $ 7.2 $ 2.3 $ 0.7 $ 1.7 $ 27.4 Operating lease obligations totaling $0.7 million are guaranteed by Trinity Industries, Inc. and certain subsidiaries.

Property, Plant, and Equipment

Property, Plant, and Equipment	6 Months Ended
Property, Plant, and Equipment	Jun. 30, 2024
Property, Plant and Equipment [Abstract]
Property, Plant, and Equipment	Property, Plant, and Equipment The following table summarizes the components of property, plant, and equipment: June 30, 2024 December 31, 2023 (in millions) Railcars in our lease fleet: Wholly-owned subsidiaries: Equipment on lease $ 7,570.9 $ 7,536.7 Less: accumulated depreciation (1,686.7) (1,604.9) 5,884.2 5,931.8 Partially-owned subsidiaries: Equipment on lease 2,239.0 2,236.6 Less: accumulated depreciation (792.2) (763.4) 1,446.8 1,473.2 Deferred profit on railcar products sold (1) (1,054.0) (1,061.3) Less: accumulated amortization 324.1 311.1 (729.9) (750.2) Total railcars in our lease fleet 6,601.1 6,654.8 Operating and administrative assets: Land 16.3 16.1 Buildings and improvements 383.7 380.4 Machinery and other 422.6 419.8 Construction in progress 14.5 11.3 837.1 827.6 Less: accumulated depreciation (495.9) (477.6) Total operating and administrative assets 341.2 350.0 Total property, plant, and equipment, net $ 6,942.3 $ 7,004.8 (1) Includes deferred profit related to new railcar additions, sustainable railcar conversions, railcar modifications, and other betterments. The deferred profit is subsequently eliminated in consolidation.

Debt

Debt	6 Months Ended
Debt	Jun. 30, 2024
Debt Disclosure [Abstract]
Debt	Debt The carrying amounts of our debt are as follows: June 30, 2024 December 31, 2023 (in millions) Corporate – Recourse: Revolving credit facility $ — $ — Senior notes due 2024, net of unamortized discount of $— and $0.1 — 399.9 Senior notes due 2028, inclusive of unamortized premium of $4.9 and $— 604.9 400.0 604.9 799.9 Less: unamortized debt issuance costs (7.4) (5.3) Total recourse debt 597.5 794.6 Lease fleet – Non-recourse: Wholly-owned subsidiaries: Secured railcar equipment notes, net of unamortized discount of $0.3 and $0.2 2,516.6 2,246.7 2017 promissory notes, net of unamortized discount of $2.5 and $3.5 652.5 673.7 TRL-2023 term loan 329.0 334.5 TILC warehouse facility 488.2 529.3 Other equipment financing 51.2 52.3 4,037.5 3,836.5 Less: unamortized debt issuance costs (17.9) (17.3) 4,019.6 3,819.2 Partially-owned subsidiaries: Secured railcar equipment notes, net of unamortized discount of $0.1 and $0.1 1,116.5 1,147.8 Less: unamortized debt issuance costs (6.2) (7.4) 1,110.3 1,140.4 Total non-recourse debt 5,129.9 4,959.6 Total debt $ 5,727.4 $ 5,754.2 Estimated Fair Value of Debt – The estimated fair values of our 7.75% senior notes due 2028 ("Senior Notes due 2028") and our 4.55% senior notes due 2024 ("Senior Notes due 2024") are based on a quoted market price in a market with little activity (Level 2 input). The estimated fair values of our secured railcar equipment notes are based on our estimate of their fair value using unobservable input values provided by a third party (Level 3 inputs). The respective carrying values of our revolving credit facility, 2017 promissory notes, TRL-2023 term loan, and TILC warehouse facility approximate fair value because the interest rate adjusts to the market interest rate. As of June 30, 2024, we evaluated the fair value of the other equipment financing liability using Level 3 inputs and determined that the carrying value approximates fair value. The estimated fair values of our debt are as follows: June 30, 2024 December 31, 2023 (in millions) Level 2 $ 620.1 $ 812.1 Level 3 $ 3,465.9 $ 3,192.7 Revolving Credit Facility – We have a $600.0 million unsecured corporate revolving credit facility. During the six months ended June 30, 2024, we had total borrowings of $190.0 million and total repayments of $190.0 million under the revolving credit facility. Additionally, we had outstanding letters of credit issued in an aggregate amount of $5.2 million, leaving $594.8 million available for borrowing as of June 30, 2024. The majority of our outstanding letters of credit as of June 30, 2024 are scheduled to expire in November 2024. Our letters of credit obligations support performance bonds related to certain railcar orders. The revolving credit facility bears interest at a variable rate of SOFR plus (1) a benchmark adjustment of 10 basis points and (2) a facility margin of 1.75%, for an all-in interest rate of 7.19% as of June 30, 2024. A commitment fee accrues on the average daily unused portion of the revolving credit facility at the rate of 0.175% to 0.40% (0.25% as of June 30, 2024). The revolving credit facility requires the maintenance of ratios related to minimum interest coverage for the leasing and manufacturing operations and maximum leverage. As of June 30, 2024, we were in compliance with all such financial covenants. Senior Notes due 2028 – In June 2023, we issued $400.0 million aggregate principal amount of 7.75% senior notes due July 2028. In June 2024, we issued an additional $200.0 million aggregate principal amount of 7.75% senior notes due July 2028 (the "Additional Senior Notes"), which increased the aggregate principal amount from $400.0 million to $600.0 million. The Additional Senior Notes were issued at a price of 102.5% of the principal amount. Proceeds received from the issuance totaled approximately $209.0 million and included the premium described above and interest deemed to have accrued from January 15, 2024 through June 4, 2024. The Additional Senior Notes have identical terms and conditions (other than the original issue date, issue price, the first interest payment date and the first date from which interest will accrue) as the original issuance. Interest on the Additional Senior Notes is payable semiannually commencing July 15, 2024. We incurred $3.0 million in debt issuance costs from the issuance of the Additional Senior Notes, which will be amortized to interest expense over the term of the Senior Notes due 2028. Net proceeds received from the issuance, together with cash on hand, were used to repay $400.0 million of our Senior Notes due 2024, as described below, and to pay related fees, costs, premiums, and expenses in connection with the issuance. Redemption of Senior Notes due 2024 – In June 2024, we redeemed in full $400.0 million aggregate principal amount of our 4.55% senior notes due 2024. Additionally, in connection with the redemption of the Senior Notes due 2024, during the three and six months ended June 30, 2024, we recognized a loss on extinguishment of debt of $0.1 million, which related to the write-off of unamortized discount and debt issuance costs. These charges are reflected in the interest expense, net line of our Consolidated Statements of Operations for the three and six months ended June 30, 2024. As a result of the redemption of the Senior Notes due 2024, we are no longer required to report supplemental guarantor financial information in this Quarterly Report on Form 10-Q. TILC Warehouse Loan Facility – TILC has historically maintained a warehouse loan facility to finance railcars owned by TILC. In March 2024, we entered into a new warehouse loan facility with a total commitment amount of $800.0 million, a revolving termination date of March 15, 2027, and a maturity date of March 15, 2028. This warehouse loan facility replaced the prior $1.0 billion warehouse loan facility. We incurred $3.6 million in debt issuance costs, which are recorded in other assets in our Consolidated Balance Sheets as of June 30, 2024, and are being amortized to interest expense over the facility term. During the six months ended June 30, 2024, we had total borrowings of $905.6 million and total repayments of $946.7 million under the current and prior TILC warehouse loan facilities. Of the remaining unused facility amount of $311.8 million, $133.3 million was available as of June 30, 2024 based on the amount of warehouse-eligible, unpledged equipment. Advances under the facility bear interest at one-month term SOFR plus a facility margin of 1.75%, for an all-in interest rate of 7.08% at June 30, 2024. TRL-2024 Secured Railcar Equipment Notes – In May 2024, Trinity Rail Leasing 2021 LLC, a Delaware limited liability company ("TRL-2021") and a limited purpose, indirect wholly-owned subsidiary of the Company owned through TILC, issued an aggregate principal amount of $432.4 million of its Series 2024-1 Class A Green Secured Railcar Equipment Notes (the "TRL-2024 Notes"). The TRL-2024 Notes bear interest at a fixed rate of 5.78%, are payable monthly, and have a stated final maturity date of May 19, 2054. We incurred $4.2 million in debt issuance costs, which will be amortized to interest expense through the anticipated repayment date of the TRL-2024 Notes. The TRL-2024 Notes are obligations of TRL-2021 and are non-recourse to Trinity. The obligations are secured by a portfolio of railcars and operating leases thereon, certain cash reserves, and other assets acquired and owned by TRL-2021. Net proceeds received from the railcars acquired in connection with the issuance of the TRL-2024 Notes were used to repay approximately $218.9 million of borrowings under TILC's warehouse loan facility; to redeem the outstanding debt of Trinity Rail Leasing VII LLC, as described below; and for general corporate purposes. Redemption of TRL-VII Secured Railcar Equipment Notes – In May 2024, with the net proceeds of the TRL-2024 Notes, we redeemed in full Trinity Rail Leasing VII LLC's Series 2009-1 Secured Railcar Equipment Notes (the "TRL VII Notes"), of which $94.1 million was outstanding at the redemption date. The all-in interest rate for the TRL VII Notes was 6.66% per annum. In connection with the redemption of the TRL VII Notes, during the three and six months ended June 30, 2024, we recognized a loss on extinguishment of debt of $1.4 million, which included a $0.6 million early redemption premium and a write-off of $0.8 million in unamortized debt issuance costs. These charges are reflected in the interest expense, net line of our Consolidated Statements of Operations for the three and six months ended June 30, 2024. Each of our secured railcar equipment notes, including the TRL-2024 Notes, generally has an anticipated repayment date and a stated final maturity date. While the stated final maturity date of these notes is in 2054, the cash flows from the encumbered assets of TRL-2021 will be applied, pursuant to the payment priorities of their respective indentures, so as to amortize their respective notes to achieve monthly targeted principal balances. If the cash flow assumptions used in determining the targeted balances are met, it is anticipated that the notes will be repaid well in advance of their stated final maturity date. There can be no assurance, however, that such cash flow assumptions will be realized. If these notes are not repaid by the anticipated repayment date, the respective interest rate on these notes would increase from the fixed rate stated above.

Income Taxes

Income Taxes	6 Months Ended
Income Taxes	Jun. 30, 2024
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes The effective tax rates from continuing operations for the three and six months ended June 30, 2024 were expenses of 22.7% and 23.8%, respectively, which differ from the U.S. statutory rate of 21.0% primarily due to state income taxes, foreign income taxes, and non-deductible executive compensation, partially offset by the benefit of noncontrolling interest, for which we do not provide income taxes, excess tax benefits associated with equity-based compensation, and changes in state tax laws enacted in the second quarter. The effective tax rate from continuing operations for the three months ended June 30, 2023 was an expense of 23.9%, which differs from the U.S. statutory rate of 21.0% primarily due to state income taxes, foreign income taxes, non-deductible executive compensation, excess tax benefits associated with equity-based compensation, and taxes not recorded on our non-controlling interests in partially-owned subsidiaries. The effective tax rate from continuing operations for the six months ended June 30, 2023 was a benefit of 11.3%, which differs from the U.S. statutory rate of 21.0% primarily due to the release of residual taxes out of AOCI; the re-measurement of our net deferred tax liabilities due to the acquisition of a subsidiary; changes in our valuation allowances; state income taxes; and foreign income taxes. During the six months ended June 30, 2023, one of our partially-owned subsidiaries released residual tax effects that had previously been recorded in AOCI. This deferred tax benefit was originally recorded before the partially-owned subsidiary was treated as a flow-through entity, remaining in AOCI until the underlying book-to-tax difference no longer existed, which occurred during the six months ended June 30, 2023. As a result, we recorded an $11.9 million income tax benefit in our Consolidated Statements of Operations during the six months ended June 30, 2023. Pursuant to the acquisition of a subsidiary during the six months ended June 30, 2023, we re-measured our existing deferred tax assets and liabilities, taking into account the expected change to state tax apportionment. This resulted in an increase to our net deferred tax liability of $3.2 million in the period, which was recorded through deferred income tax expense. The tax provision for the six months ended June 30, 2023 also reflects a $4.0 million tax benefit related to the net impact of an adjustment to valuation allowances, primarily for deferred tax assets in Mexico, state tax loss carryforwards, and federal tax credits. The total income tax receivable position as of June 30, 2024 was $4.6 million primarily for state tax overpayments. Our income tax payable for federal, state, and foreign income taxes is $7.6 million as of June 30, 2024. Deferred income taxes related to railcars in our lease fleet were $1.1 billion as of both June 30, 2024 and December 31, 2023. Our federal tax return years through 2020 are closed under statute and the years 2021-2023 remain open. We have state tax returns that are under audit in the normal course of business, and the statutes of limitations for our Mexican subsidiaries' tax returns remain open for audit for 2018 and forward. We believe we are appropriately reserved for any potential matters. During the three months ended June 30, 2024, Canada enacted a 15% minimum tax on all companies that operate in its jurisdiction, consistent with one or more Organization for Economic Co-operation and Development Global Anti-Base Erosion Model Rules ("Pillar Two"). We do not expect that Canada’s enactment of Pillar Two will have a material impact to our income tax expense. Pillar Two legislation has not been enacted in the other jurisdictions in which we operate, and we will continue to monitor our potential exposure as more jurisdictions adopt these provisions.

Employee Retirement Plans

Employee Retirement Plans	6 Months Ended
Employee Retirement Plans	Jun. 30, 2024
Retirement Benefits [Abstract]
Employee Retirement Plans	Employee Retirement Plans Amounts related to our employee retirement plans are as follows: Three Months Ended June 30, Six Months Ended 2024 2023 2024 2023 (in millions) Defined contribution expense $ 2.9 $ 2.6 $ 5.9 $ 5.0

Accumulated Other Comprehensive

Accumulated Other Comprehensive Loss	6 Months Ended
Accumulated Other Comprehensive Loss	Jun. 30, 2024
Equity [Abstract]
Accumulated Other Comprehensive Loss	Accumulated Other Comprehensive Income Changes in AOCI for the six months ended June 30, 2024 are as follows: Unrealized gains/(losses) on derivative financial instruments Net actuarial gains/(losses) of defined benefit plans Accumulated other comprehensive income (loss) (in millions) Balances at December 31, 2023 $ 12.4 $ (1.4) $ 11.0 Other comprehensive income, net of tax, before reclassifications 5.9 — 5.9 Amounts reclassified from AOCI, net of tax expense of $2.9, $—, and $2.9 (9.3) — (9.3) Less: noncontrolling interest (0.2) — (0.2) Other comprehensive loss (3.6) — (3.6) Balances at June 30, 2024 $ 8.8 $ (1.4) $ 7.4

Common Stock and Stock-Based Co

Common Stock and Stock-Based Compensation	6 Months Ended
Common Stock and Stock-Based Compensation	Jun. 30, 2024
Share-Based Payment Arrangement [Abstract]
Stock-Based Compensation	Common Stock and Stock-Based Compensation Stockholders' Equity In December 2022, our Board of Directors authorized a share repurchase program effective December 9, 2022 with no expiration. The share repurchase program authorizes the Company to repurchase up to $250.0 million of its common stock. During the three and six months ended June 30, 2024, share repurchases totaled 33,900 shares, at a cost of approximately $0.9 million, resulting in a remaining authorization to repurchase up to $249.1 million of its common stock under the share repurchase program as of June 30, 2024. There were no shares repurchased during the three and six months ended June 30, 2023. Stock-Based Compensation Stock-based compensation expense totaled approximately $5.9 million and $10.6 million for the three and six months ended June 30, 2024, respectively. Stock-based compensation expense totaled approximately $6.5 million and $12.7 million for the three and six months ended June 30, 2023, respectively. The Company's annual grants of share-based awards generally occur in the first and second quarters under our Fifth Amended and Restated Stock Option and Incentive Plan (the "Plan”). Our stock options have contractual terms of ten years and become exercisable over a three-year period. Expense related to stock options is recognized on a straight-line basis over the vesting period. Expense related to restricted stock units ("RSUs") issued to eligible employees under the Plan is recognized over the vesting period, generally between three years and four years. Beginning in 2020, certain RSU grants provide for full vesting when the award recipients retire having reached 60 years of age and having provided at least ten years of service to the Company, provided that the awards remain outstanding for a period of six months from the date of grant. The expense for these awards is recognized over the applicable service period for each of the eligible award recipients. Expense related to RSUs and restricted stock awards ("RSAs") granted to non-employee directors under the Plan is recognized on a straight-line basis over the vesting period, generally one year. Expense related to performance units is recognized on a straight-line basis from their award date to the end of the performance period, generally three years. The following table summarizes stock-based compensation awards granted during the six months ended June 30, 2024: Number of Shares Granted Weighted Average Grant-Date Fair Value per Award Restricted stock units 430,185 $ 30.54 Restricted stock awards 15,903 $ 30.75 Performance units 241,212 $ 29.56 The fair value of RSUs granted is based on the Company's closing stock price on the date of grant. For the performance units granted during the six months ended June 30, 2024 for which the payout is based on relative total shareholder return, the fair value was estimated at the date of grant using a Monte Carlo simulation with assumptions that reflect market conditions at the date of grant, including stock price, risk-free interest rate, expected term, expected volatility, and dividend yield. For the performance units granted during the six months ended June 30, 2024 for which the payout is based on return on equity, the fair value is based on the Company's closing stock price on the date of grant, adjusted to exclude the cumulative value of dividends over the three-year vesting period as these units do not earn dividend equivalents.

Earnings Per Common Share

Earnings Per Common Share	6 Months Ended
Earnings Per Common Share	Jun. 30, 2024
Earnings Per Share [Abstract]
Earnings Per Common Share	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 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. Three Months Ended June 30, Six Months Ended 2024 2023 2024 2023 (in millions, except per share amounts) Income from continuing operations $ 58.1 $ 23.5 $ 89.8 $ 40.3 Less: Net income attributable to noncontrolling interest (2.0) (4.2) (5.7) (13.5) Net income from continuing operations attributable to Trinity Industries, Inc. 56.1 19.3 84.1 26.8 Net loss from discontinued operations attributable to Trinity Industries, Inc. (1.7) (2.3) (6.0) (5.4) Net income attributable to Trinity Industries, Inc. $ 54.4 $ 17.0 $ 78.1 $ 21.4 Basic weighted average shares outstanding 82.4 81.2 81.7 81.0 Effect of dilutive securities 1.7 2.2 1.7 2.5 Diluted weighted average shares outstanding 84.1 83.4 83.4 83.5 Basic earnings per common share: Income from continuing operations $ 0.68 $ 0.24 $ 1.03 $ 0.33 Loss from discontinued operations (0.02) (0.03) (0.07) (0.07) Basic net income attributable to Trinity Industries, Inc. $ 0.66 $ 0.21 $ 0.96 $ 0.26 Diluted earnings per common share: Income from continuing operations $ 0.67 $ 0.23 $ 1.01 $ 0.32 Loss from discontinued operations (0.02) (0.03) (0.07) (0.06) Diluted net income attributable to Trinity Industries, Inc. $ 0.65 $ 0.20 $ 0.94 $ 0.26 Potentially dilutive securities excluded from EPS calculation: Antidilutive restricted shares 0.2 0.1 0.2 0.1 Antidilutive stock options — — — —

Contingencies

Contingencies	6 Months Ended
Contingencies	Jun. 30, 2024
Commitments and Contingencies Disclosure [Abstract]
Contingencies	Contingencies Highway products litigation We previously reported the filing of a False Claims Act (“FCA”) complaint in the United States District Court for the Eastern District of Texas, Marshall Division (“District Court”) styled Joshua Harman, on behalf of the United States of America, Plaintiff/Relator v. Trinity Industries, Inc., Defendant , Case No. 2:12-cv-00089-JRG (E.D. Tex.). In this case, in which the U.S. Government declined to intervene, the relator, Mr. Joshua Harman, alleged the Company violated the FCA pertaining to sales of the ET Plus. On October 20, 2014, a trial in this case concluded with a jury verdict stating that the Company and THP “knowingly made, used or caused to be made or used, a false record or statement material to a false or fraudulent claim," and the District Court entered judgment on the verdict in the total amount of $682.4 million. On September 29, 2017, the United States Court of Appeals for the Fifth Circuit ("Fifth Circuit") reversed the District Court’s $682.4 million judgment and rendered judgment as a matter of law in favor of the Company and THP. On January 7, 2019, the United States Supreme Court denied Mr. Harman's petition for certiorari seeking review of the Fifth Circuit's decision. The denial of Mr. Harman's petition ended this action. Pursuant to the purchase and sale agreement related to the sale of THP, the Company agreed to indemnify Rush Hour for certain liabilities related to the highway products business, including those liabilities resulting from or arising out of (a) the proceedings set forth under “State actions” below and (b) any other proceedings to the extent resulting from or arising out of ET Plus systems or specified ET Plus component parts that were both (i) manufactured prior to December 31, 2021, and (ii) sold in the United States on or prior to April 30, 2022, or related warranty obligations with respect thereto. State actions Mr. Harman has a separate state qui tam action currently pending pursuant to the Virginia Fraud Against Taxpayers Act ("VFATA") ( Commonwealth of Virginia ex rel. Joshua M. Harman v. Trinity Industries, Inc. and Trinity Highway Products, LLC , Case No. CL13-698, in the Circuit Court, Richmond, Virginia). In this matter, Mr. Harman alleged the Company violated the VFATA pertaining to sales of the ET Plus, and he is seeking damages, civil penalties, attorneys’ fees, costs, and interest. The Commonwealth of Virginia Attorney General has intervened in the Virginia matter. On February 7, 2024, the trial court granted the Company's motion for summary judgment and ordered that the trial dates and hearing dates in this matter be removed from the court's docket. On July 11, 2024, the trial court denied the Commonwealth of Virginia’s motion for reconsideration of the order granting the Company’s motion for summary judgment. In a similar New Jersey state qui tam action ( State of New Jersey ex rel. Joshua M. Harman v. Trinity Industries, Inc. and Trinity Highway Products, LLC , Case No.L-1344-14, in the Superior Court of New Jersey Law Division: Mercer County) that was previously dismissed by the trial court, Mr. Harman sought leave to file an amended complaint pursuant to the New Jersey False Claims Act. On February 16, 2022, the trial court denied Mr. Harman’s motion. On March 9, 2022, Mr. Harman filed a motion for reconsideration of the trial court’s order denying leave to file an amended complaint. On June 27, 2022, the trial court denied Mr. Harman’s motion for reconsideration seeking leave to file an amended complaint with prejudice. On August 9, 2022, Mr. Harman filed a Notice of Appeal of the trial court's order denying Mr. Harman's motion for reconsideration. Mr. Harman's appeal remains pending. The Company believes that it has substantial defenses in these matters and intends to vigorously defend against all allegations. Based on information currently available to the Company and previously disclosed, we currently do not believe that a loss is probable in the state qui tam actions described under "State actions," therefore no accrual has been included in the accompanying Consolidated Financial Statements. Because of the complexity of these actions, as well as the current status of certain of these actions, we are not able to estimate a range of possible losses with respect to any one or more of these actions. While the financial impacts of these state actions are currently unknown, they could be material. Product liability cases The Company is currently defending product liability lawsuits that are alleged to involve the ET Plus as well as other products manufactured by THP. These cases are diverse in light of the randomness of collisions in general and the fact that each accident involving a roadside device, such as an end terminal, or any other fixed object along the highway, has its own unique facts and circumstances. The Company carries general liability insurance to mitigate the impact of adverse judgment exposures in these product liability cases. To the extent that the Company believes that a loss is probable with respect to these product liability cases, the accrual for such losses is included in the amounts described below under "Other matters". East Palestine, OH Train Derailment On February 3, 2023, a Norfolk Southern Railway freight train derailed 38 railcars in East Palestine, Ohio. In March 2023, the State of Ohio and the United States Environmental Protection Agency filed lawsuits against Norfolk Southern Railway Company and Norfolk Southern Corporation (“Norfolk Southern”), which were consolidated in the United States District Court for the Northern District of Ohio, Eastern Division in a civil action styled The State of Ohio, ex rel., Dave Yost, Ohio Attorney General, and the United States of America, Plaintiffs v. Norfolk Southern Railway Company and Norfolk Southern Corporation, Defendants , Civil Action No. 4:23-cv-00517. In this action, on June 30, 2023, Norfolk Southern filed a third-party complaint against the Company’s wholly-owned subsidiary, TILC. Norfolk Southern also named as third-party defendants in this action Oxy Vinyls LP, GATX Corporation, General American Marks Company, SMBC Rail Services LLC, Dow Chemical Incorporated, and Union Tank Car Company. Norfolk Southern asserts third-party claims against TILC for recovery of response costs, contribution, and declaratory relief under the Comprehensive Environmental Response, Compensation, and Liability Act ("CERCLA"); negligence; and equitable contribution. TILC was the owner of one tank car cited in this action, which was leased to a third party, who is also a third-party defendant in the litigation. On September 15, 2023, TILC filed a motion to dismiss Norfolk Southern’s third-party complaint. On March 6, 2024, the trial court granted TILC’s motion to dismiss Norfolk Southern’s Third-Party Complaint and entered an order dismissing Norfolk Southern’s complaint against TILC. On March 26, 2024, Norfolk Southern filed a Motion for Entry of Partial Final Judgment, which remains pending. In April 2023, multiple putative class action lawsuits filed against Norfolk Southern were consolidated in the United States District Court for the Northern District of Ohio, Eastern Division in a civil action styled In re: East Palestine Train Derailment , Civil Action No. 4:23-CV-00242 ("Consolidated Class Action"). In this action, on July 25, 2023, Norfolk Southern filed a third-party complaint against the Company’s wholly-owned subsidiary, TILC. Norfolk Southern also named as third-party defendants in this action Oxy Vinyls LP, GATX Corporation, and General American Marks Company. Norfolk Southern asserts third-party claims against TILC for negligence, joint and several liability, and contribution. On August 14, 2023, plaintiffs filed a First Amended Master Consolidated Class Action Complaint and Jury Demand (“First Amended Complaint”) asserting direct claims for negligence, gross negligence, and medical monitoring against Oxy Vinyls LP, GATX Corporation, General American Marks Company, and TILC ("Railcar Defendants"). TILC was the owner of one tank car cited in this action, which was leased to a third party, who is also a third-party defendant in the litigation. On September 15, 2023, TILC filed a motion to dismiss Norfolk Southern’s third-party complaint, and on September 26, 2023, TILC filed a motion to dismiss plaintiffs’ First Amended Complaint. On March 13, 2024, the trial court granted in part and denied in part TILC’s motion to dismiss Norfolk Southern’s third-party complaint and TILC’s motion to dismiss plaintiffs’ First Amended Complaint. On April 9, 2024, plaintiffs and Norfolk Southern announced a settlement in principle of plaintiffs’ claims against Norfolk Southern and the Railcar Defendants. Norfolk Southern preserved its third-party claims against the Railcar Defendants. The proposed settlement is subject to the court’s approval. On May 22, 2024, the parties filed a joint motion to dismiss with prejudice Norfolk Southern’s third-party claims against TILC (the “Dismissal Motion”). On June 3, 2024, the court entered an order granting the Dismissal Motion (the “Dismissal Order”). The Dismissal Order dismisses, with prejudice, all of Norfolk Southern’s claims against TILC, including claims for negligence and contribution. On December 8, 2023, a lawsuit was filed against TILC titled Ambridge Area School District et al. v. Norfolk Southern Corporation et al. , Case No. 2:23-cv-01530-CB, in the United States District Court for the Western District of Pennsylvania. Plaintiffs in this putative class action lawsuit assert claims against Norfolk Southern Corporation, Norfolk Southern Railway Company, Oxy Vinyls, LP, GATX Corporation, General American Marks Company, and TILC for negligence, negligence per se, strict liability, public and private nuisance, future health monitoring, trespass, and punitive damages. On February 23, 2024, TILC filed a motion to dismiss plaintiffs’ amended complaint, which remains pending. TILC was the owner of one tank car cited in this action, which was leased to a third party, who is also a defendant in the litigation. On March 8, 2024, a lawsuit was filed against TILC titled Patricia Almasy et al. v. Norfolk Southern Corporation et al. , Case No. 4:24-cv-00452, in the United States District Court for the Northern District of Ohio (“Almasy Lawsuit”). Plaintiffs assert claims against Norfolk Southern Corporation, Norfolk Southern Railway Company, Oxy Vinyls, LP, GATX Corporation, General American Marks Company, and TILC. Plaintiffs assert claims against TILC for negligence, gross negligence, future health monitoring, and willful and wanton conduct. TILC was the owner of one tank car cited in this action, which was leased to a third party, who is also a defendant in this lawsuit. On March 13, 2024, this lawsuit was consolidated into the Consolidated Class Action lawsuit. The Company believes it has substantial defenses and intends to vigorously defend itself against all allegations in the third-party and direct claims asserted against TILC. The Company or its subsidiaries could be named in similar litigation involving other plaintiffs, but the ultimate number of claims and the jurisdiction(s) in which such claims, if any, may be filed may vary. We do not believe at this time that a loss is probable in these matters, nor can a range of possible losses be determined. Accordingly, no accrual or range of loss has been included in the accompanying consolidated financial statements. The Company maintains liability insurance coverage and commercial contractual indemnity rights to protect the Company’s assets from losses arising from these types of litigation claims. Other matters The Company is involved in claims and lawsuits incidental to our business arising from various matters, including product warranty, personal injury, environmental issues, workplace laws, and various governmental regulations. The Company evaluates its exposure to such claims and suits periodically and establishes accruals for these contingencies when a range of loss can be reasonably estimated. The range of reasonably possible losses for such matters is $7.5 million to $19.0 million. This range includes any amounts related to the Highway Products litigation matters described above in the section titled “Highway products litigation." At June 30, 2024, total accruals of $8.5 million, including environmental and workplace matters described below, are included in accrued liabilities in the accompanying Consolidated Balance Sheets. The Company believes any additional liability would not be material to its financial position or results of operations. Trinity is subject to remedial orders and federal, state, local, and foreign laws and regulations relating to the environment and the workplace. The Company has reserved $1.3 million to cover our probable and estimable liabilities with respect to the investigations, assessments, and remedial responses to such matters, taking into account currently available information and our contractual rights to indemnification and recourse to third parties. However, estimates of liability arising from future proceedings, assessments, or remediation are inherently imprecise. Accordingly, there can be no assurance that we will not become involved in future litigation or other proceedings involving the environment and the workplace or, if we are found to be responsible or liable in any such litigation or proceeding, that such costs would not be material to the Company. We believe that we are currently in substantial compliance with environmental and workplace laws and regulations. Georgia Fire On January 16, 2024, a fire damaged a portion of the Company's facility in Cartersville, Georgia. We have incurred costs related to cleanup and damage remediation activities in order for the facility to resume limited operations, and we expect to return to normal production levels in the second half of 2024. We believe our insurance coverage is sufficient to cover property damage costs related to the event. To date, we have received advanced payments from insurance of approximately $1.5 million for cleanup and damage remediation activities. Additionally, at March 31, 2024, we recorded an insurance receivable of approximately $1.0 million for property damage recoveries that we have concluded are probable of collection, which remains outstanding at June 30, 2024. Any property damage insurance proceeds received in excess of the net book value of property lost and related cleanup costs will be accounted for as a gain. Additionally, the Company may be entitled to business interruption proceeds related to the event. We will not record these recoveries until settlements have been reached with the insurance company.

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Millions	3 Months Ended		6 Months Ended
Pay vs Performance Disclosure - USD ($) $ in Millions	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Pay vs Performance Disclosure
Net Income (Loss) Attributable to Parent	$ 54.4	$ 17	$ 78.1	$ 21.4

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
Insider Trading Arrangements	Jun. 30, 2024
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

Summary of Significant Accounti

Summary of Significant Accounting Policies (Policies)	6 Months Ended
Summary of Significant Accounting Policies (Policies)	Jun. 30, 2024
Accounting Policies [Abstract]
Consolidation, Policy [Policy Text Block]	Basis of Presentation The foregoing Consolidated Financial Statements are unaudited and have been prepared from the books and records of Trinity Industries, Inc. and Subsidiaries (“Trinity,” “Company,” “we,” “our,” or "us"), including the accounts of our wholly-owned subsidiaries and partially-owned subsidiaries, TRIP Rail Holdings LLC (“TRIP Holdings”), RIV 2013 Rail Holdings LLC ("RIV 2013"), and Trinity Global Ventures Limited ("Trinity Global Ventures"), in which we have a controlling interest. In our opinion, all normal and recurring adjustments necessary for a fair presentation of our financial position as of June 30, 2024, the results of operations for the three and six months ended June 30, 2024 and 2023, and cash flows for the six months ended June 30, 2024 and 2023 have been made in conformity with generally accepted accounting principles. All significant intercompany accounts and transactions have been eliminated. Certain prior year balances have been reclassified to conform to the 2024 presentation. Due to seasonal and other factors, the results of operations for the six months ended June 30, 2024 may not be indicative of expected results of operations for the year ending December 31, 2024. These interim financial statements and notes are condensed as permitted by the instructions to Form 10-Q and should be read in conjunction with our audited Consolidated Financial Statements included in our Form 10-K for the year ended December 31, 2023.
Segment Reporting, Policy	Our Reportable Segments Effective January 1, 2024, the Company modified its organizational structure to better leverage our maintenance services capabilities to support lease fleet optimization and to grow our services and parts businesses. The new structure resulted in a change to our reportable segments beginning in 2024. In connection with this organizational update, we aligned the maintenance services business, which was previously reported in the Rail Products Group, to now be presented within our leasing business. This change aligns with the way in which our Chief Operating Decision Maker ("CODM") assesses performance and allocates resources. Consequently, beginning January 1, 2024, we report our operating results in two reportable segments: (1) the Railcar Leasing and Services Group, formerly the Railcar Leasing and Management Services Group, and (2) the Rail Products Group. These changes had no impact to our previously reported consolidated results of operations, financial position, or cash flows. All prior period segment results set forth herein have been recast to reflect these changes and present results on a comparable basis.
Revenue [Policy Text Block]	Revenue Recognition In accordance with Accounting Standards Codification ("ASC") 606, Revenue from Contracts with Customers , revenue is measured based on the allocation of the transaction price in a contract to satisfied performance obligations. The transaction price does not include any amounts collected on behalf of third parties. We recognize revenue when we satisfy a performance obligation by transferring control over a product or service to a customer. For all contracts with customers, we evaluate whether we are the principal (i.e., report revenues on a gross basis) or agent (i.e., report revenues on a net basis). Generally, we are the principal in our contracts with customers and report revenues on a gross basis as we control the product or service before it is transferred to a customer. We act as an agent for a small number of service contracts and report those revenues on a net basis as we do not control the services before they are provided to the customer. Payments for our products and services are generally due within normal commercial terms. The following is a description of principal activities from which we generate our revenue, separated by reportable segments. See Note 4 for a further discussion regarding our reportable segments. Railcar Leasing and Services Group In our Railcar Leasing and Services Group ("Leasing Group"), revenue from rentals and operating leases, including contracts that contain non-level fixed lease payments, is recognized monthly on a straight-line basis. Leases not classified as operating leases are generally considered sales-type leases as a result of an option to purchase. We review our operating lease receivables for collectibility on a regular basis, taking into consideration changes in factors such as the lessee’s payment history, the financial condition of the lessee, and business and economic conditions in the industry in which the lessee operates. In the event that the collectibility of a receivable with respect to any lessee is no longer probable, we derecognize the revenue and related receivable and recognize future revenue only when the lessee makes a rental payment. Contingent rents are recognized when the contingency is resolved. Selling profit or loss associated with sales-type leases is recognized upon lease commencement, and a net investment in the sales-type lease is recorded in the Consolidated Balance Sheets. Interest income related to sales-type leases is recognized over the lease term using the effective interest method. See "Lease Accounting" below for additional information regarding sales-type leases as of June 30, 2024 and 2023. We report all sales of railcars from the lease fleet and selling profit or loss associated with sales-type leases as a net gain or loss from the disposal of a long-term asset in accordance with ASC 610-20, Gains and losses from the derecognition of non-financial assets . These sales are presented in the Lease portfolio sales line in our Consolidated Statements of Operations. Our maintenance services business is primarily dedicated to servicing our lease fleet pursuant to the provisions of our lease contracts. This may include services that are not included in the full-service lease agreement, such as repairs of railcar damage or other customer-specific requirements. We also perform maintenance and repair activities on railcars owned by third parties, including our investor-owned fleet. Within our maintenance services business, revenue is recognized over time as repair and maintenance projects are completed, using an input approach based on the costs incurred relative to the total estimated costs of performing the project. We recorded contract assets of $12.9 million and $8.8 million as of June 30, 2024 and December 31, 2023, respectively, related to unbilled revenues recognized on repair and maintenance activities that have been performed, but for which the entire project has not yet been completed, and the railcar has not yet been shipped to the customer. These contract assets are included within the Receivables, net of allowance line in our Consolidated Balance Sheets. In connection with an acquisition that occurred during the first quarter of 2023, we evaluated whether we are acting as a principal or an agent for certain logistics services provided to a small number of customers. During the fourth quarter of 2023, we concluded that we act as an agent in these transactions as we do not control the services before they are provided to the customer, and as a result, revenues that were previously recognized on a gross basis should be recognized on a net basis. We elected to effect this accounting change on a prospective basis as it was not quantitatively or qualitatively material to our consolidated financial statements, and beginning in the fourth quarter of 2023, revenues associated with these services are now recognized on a net basis. The accounting change had no effect on the Company's previously reported operating profit, net income, earnings per share, Consolidated Balance Sheets, or Consolidated Statements of Cash Flows. Rail Products Group Our railcar manufacturing business recognizes revenue related to new railcars when the customer has submitted its certificate of acceptance and legal title of the railcar has passed to the customer. Certain contracts for the sales of railcars include price adjustments based on changes to input costs; this amount represents variable consideration for which we are generally unable to estimate the final consideration until the railcar is delivered. Revenue is recognized over time as sustainable railcar conversions are completed, using an input approach based on the costs incurred relative to the total estimated costs of performing the project. We recorded contract assets of $3.2 million and $12.6 million as of June 30, 2024 and December 31, 2023, respectively, which primarily relate to unbilled revenues recognized on sustainable railcar conversions that have been performed, but for which the entire project has not yet been completed, and the railcar has not yet been shipped to the customer. These contract assets are included within the Receivables, net of allowance line in our Consolidated Balance Sheets. We account for shipping and handling costs as activities to fulfill the promise to transfer the good; as such, these fees are recorded in revenue. The fees and costs of shipping and handling activities are accrued when the related performance obligation has been satisfied. Unsatisfied Performance Obligations The following table includes estimated revenue expected to be recognized in future periods related to performance obligations that are unsatisfied or partially satisfied as of June 30, 2024 and the percentage of the outstanding performance obligations as of June 30, 2024 expected to be delivered during the remainder of 2024: Unsatisfied performance obligations at June 30, 2024 Total Percent expected to be delivered in 2024 (in millions) Rail Products Group: New railcars: External customers $ 2,281.1 Leasing Group 402.1 $ 2,683.2 36.0 % Sustainable railcar conversions $ 19.6 84.7 % Railcar Leasing and Services Group: Leasing and management $ 64.5 15.0 % Maintenance services $ 8.3 100.0 % The remainder of the unsatisfied performance obligations for the Rail Products Group is expected to be delivered through 2028. The orders in the Rail Products Group's backlog from the Leasing Group are fully supported by lease commitments with external customers. The final amount of backlog attributable to the Leasing Group may vary by the time of delivery as customers may elect to change their procurement decision.
Lessee, Leases [Policy Text Block]	Lessee We are the lessee of operating leases predominantly for office buildings and railcars, as well as manufacturing equipment and office equipment. Our operating leases have remaining lease terms ranging from one year to thirteen years, some of which include options to extend for up to five years, and some of which include options to terminate within one year. As of June 30, 2024, we had no material finance leases in which we were the lessee. Certain of our operating leases include lease incentives, which reduce the right-of-use asset and are recognized on a straight-line basis over the lease term. The following table summarizes the impact of our operating leases on our Consolidated Financial Statements (in millions, except lease term and discount rate): Three Months Ended Six Months Ended 2024 2023 2024 2023 Consolidated Statements of Operations Operating lease expense $ 5.3 $ 4.4 $ 10.6 $ 8.7 Consolidated Statements of Cash Flows Cash flows from operating activities $ 10.6 $ 8.7 Right-of-use assets recognized in exchange for new lease liabilities $ 2.6 $ 6.4 June 30, 2024 December 31, 2023 Consolidated Balance Sheets Right-of-use assets (1) $ 98.7 $ 100.6 Lease liabilities (2) $ 115.0 $ 118.2 Weighted average remaining lease term 8.9 years 9.3 years Weighted average discount rate (3) 3.7 % 3.6 % (1) Included in other assets in our Consolidated Balance Sheets. (2) Included in other liabilities in our Consolidated Balance Sheets. (3) As the rate implicit in our leases is not readily determinable, we use the incremental borrowing rate of our Trinity Industries Leasing Company ("TILC") warehouse loan facility for railcar leases or our revolving credit facility for operating and administrative leases at lease commencement to determine the present value of lease payments. Future contractual minimum operating lease liabilities will mature as follows (in millions): Railcars in our Lease Fleet Operating and Administrative Total Remaining six months of 2024 $ 4.4 $ 6.1 $ 10.5 2025 8.3 11.0 19.3 2026 7.7 9.9 17.6 2027 7.2 9.1 16.3 2028 5.1 7.7 12.8 Thereafter 6.8 51.4 58.2 Total operating lease payments $ 39.5 $ 95.2 $ 134.7 Less: Present value adjustment (19.7) Total operating lease liabilities $ 115.0
Lessor, Leases [Policy Text Block]	Lessor Our Leasing Group enters into railcar operating leases with third parties with terms generally ranging between one year and ten years. The majority of our fleet operates on leases that earn fixed monthly lease payments. Generally, lease payments are due at the beginning of the applicable month. A portion of our fleet operates on per diem leases that earn usage-based variable lease payments. Some of our leases include options to extend the leases for up to five years, and a small percentage of our leases include early termination options with certain notice requirements and early termination penalties. As of June 30, 2024, non-lease fleet operating leases in which we are the lessor were not significant, and we had no direct finance leases. We manage risks associated with residual values of leased railcars by investing across a diverse portfolio of railcar types, staggering lease maturities within any given railcar type, avoiding concentration of railcar type and industry, and actively participating in secondary markets. Additionally, our lease agreements contain normal wear and tear return condition provisions and high mileage thresholds designed to protect the value of our residual assets. Our lease agreements do not contain any material residual value guarantees or restrictive covenants. The following table summarizes the impact of our leases on our Consolidated Statements of Operations: Three Months Ended Six Months Ended 2024 2023 2024 2023 (in millions) Operating lease revenues $ 196.0 $ 181.9 $ 387.8 $ 358.6 Variable operating lease revenues $ 20.8 $ 18.1 $ 34.5 $ 32.7 Interest income on sales-type lease receivables $ 0.1 $ 0.2 $ 0.3 $ 0.4 Future contractual minimum revenues for operating leases will mature as follows (in millions) (1) : Remaining six months of 2024 $ 362.9 2025 623.5 2026 503.0 2027 377.9 2028 236.1 Thereafter 345.9 Total $ 2,449.3 (1) Total contractual minimum rental revenues on operating leases relates to our wholly-owned and partially-owned subsidiaries and sub-lease rental revenues associated with the Leasing Group's operating lease obligations. Future contractual minimum lease receivables for sales-type leases will mature as follows (in millions): Remaining six months of 2024 $ 0.6 2025 1.1 2026 1.1 2027 1.1 2028 1.1 Thereafter 9.0 Total 14.0 Less: Unearned interest income (4.0) Net investment in sales-type leases (1) $ 10.0 (1) Included in other assets in our Consolidated Balance Sheets.
Cash and Cash Equivalents, Policy [Policy Text Block]	Financial Instruments We consider all highly liquid debt instruments to be either cash and cash equivalents if purchased with a maturity of three months or less, or short-term marketable securities if purchased with a maturity of more than three months and less than one year. Financial instruments that potentially subject us to a concentration of credit risk are primarily cash investments, including restricted cash and receivables. We place our cash investments in bank deposits, investment grade short-term debt instruments, highly-rated money market funds, and highly-rated commercial paper. We limit the amount of credit exposure to any one commercial issuer. The carrying values of cash, receivables, and accounts payable are considered to be representative of their respective fair values. Concentrations of credit risk with respect to receivables are limited due to control procedures that monitor the credit worthiness of customers, the large number of customers in our customer base, and their dispersion across different end markets and geographic areas. Receivables are generally evaluated at a portfolio level based on these characteristics. As receivables are generally unsecured, we maintain an allowance for credit losses using a forward-looking approach based on historical losses and consideration of current and expected future economic conditions. Historically, we have observed that the likelihood of loss increases when receivables have aged beyond 180 days. When a receivable is deemed uncollectible, the write-off is recorded as a reduction to the allowance for credit losses. During the six months ended June 30, 2024, we recognized approximately $2.3 million of credit loss expense and wrote off $1.0 million related to our trade receivables that are in the scope of ASC 326, Financial Instruments – Credit Losses, bringing the allowance for credit losses balance from $12.8 million at December 31, 2023 to $14.1 million at June 30, 2024. This balance excludes the general reserve for operating lease receivables that is permitted under ASC 450, Contingencies
Supplier Finance Program	Supply Chain Finance Program In cooperation with a participating financial institution, we facilitate a voluntary supply chain finance ("SCF") program for several of our suppliers. We negotiate payment terms with suppliers that are in line with average industry terms. We have not pledged any assets as security or provided other forms of guarantees to the financial institution. Under the SCF program, participating suppliers may choose to sell, at a discounted price, receivables due from us to the financial institution, at the sole discretion of both the suppliers and the financial institution, prior to the invoices’ scheduled due dates. The payment terms that we negotiate with all suppliers are consistent regardless of whether the supplier chooses to participate in the SCF program for a particular invoice. The SCF program is administered by a third-party financial institution, and our responsibility is limited to making payments based on the terms originally negotiated with participating suppliers, regardless of whether such suppliers sell receivables to the financial institution. Amounts due to our participating suppliers in the SCF program totaled $18.6 million and $18.3 million as of June 30, 2024 and December 31, 2023, respectively, and are included in accounts payable in our Consolidated Balance Sheets. Payments made under the SCF program are reflected in net cash provided by operating activities from continuing operations in our Consolidated Statements of Cash Flows.
Goodwill and Intangible Assets, Goodwill, Policy	Goodwill Goodwill by segment is as follows: June 30, 2024 December 31, 2023 Railcar Leasing and Services Group $ 50.6 $ 50.6 Rail Products Group 170.9 170.9 $ 221.5 $ 221.5
Product Warranty Disclosure [Text Block]	Warranties We provide various express, limited product warranties that generally range from one year to five years depending on the product. The warranty costs are estimated using a two-step approach. First, an engineering estimate is made for the cost of all claims that have been asserted by customers. Second, based on historical claims experience, a cost is accrued for all products still within a warranty period for which no claims have been filed. We provide for the estimated cost of product warranties at the time revenue is recognized related to products covered by warranties and assess the adequacy of the resulting reserves on a quarterly basis. The changes in the accruals for warranties for the three and six months ended June 30, 2024 and 2023 are as follows: Three Months Ended Six Months Ended 2024 2023 2024 2023 (in millions) Beginning balance $ 2.8 $ 3.9 $ 3.3 $ 3.3 Warranty costs incurred (0.2) (0.5) (0.4) (0.5) Warranty originations and revisions 0.4 2.0 0.2 3.0 Warranty expirations (0.2) (0.2) (0.3) (0.6) Ending balance $ 2.8 $ 5.2 $ 2.8 $ 5.2
New Accounting Pronouncements, Policy [Policy Text Block]	Recent Accounting Pronouncements Not Yet Adopted ASU 2023-07 – In November 2023, the FASB issued ASU No. 2023-07, "Improvements to Reportable Segment Disclosures," which improves disclosures about a public entity's reportable segments through enhanced disclosures about significant segment expenses. ASU 2023-07 requires disclosures, on an annual and interim basis, of significant segment expenses that are regularly provided to the CODM, the amount for other segment items by reportable segment and a description of its composition, the title and position of the CODM, and interim period disclosure of all current ASC 280, Segment Reporting , annual disclosures about a reportable segment's profit or loss and assets. ASU 2023-07 is effective for public companies during annual reporting periods beginning after December 15, 2023 and during interim reporting periods beginning after December 15, 2024 and is to be adopted on a retrospective basis. Early adoption is permitted. We are currently evaluating the impact ASU 2023-07 will have on our segment reporting disclosures. ASU 2023-09 – In December 2023, the FASB issued ASU No. 2023-09, "Improvements to Income Tax Disclosures," which enhances transparency and decision usefulness of income tax disclosures. ASU 2023-09 requires, on an annual basis, a tabular disclosure using specific categories in the rate reconciliation and providing additional information for reconciling items that meet a quantitative threshold, as well as the disaggregation of income taxes paid by federal, state, and foreign jurisdictions. ASU 2023-09 is effective for public companies during annual reporting periods beginning after December 15, 2024 on a prospective basis, with an option for retrospective application. Early adoption is permitted. We are currently evaluating the impact ASU-2023-09 will have on our income tax disclosures.

Common Stock and Stock-Based _2

Common Stock and Stock-Based Compensation Stockholders Equity (Policies)	6 Months Ended
	Jun. 30, 2024
Equity [Abstract]
Stockholders' Equity, Policy [Policy Text Block]	Stockholders' Equity
Share-based Payment Arrangement [Text Block]	Stock-Based Compensation Stock-based compensation expense totaled approximately $5.9 million and $10.6 million for the three and six months ended June 30, 2024, respectively. Stock-based compensation expense totaled approximately $6.5 million and $12.7 million for the three and six months ended June 30, 2023, respectively. The Company's annual grants of share-based awards generally occur in the first and second quarters under our Fifth Amended and Restated Stock Option and Incentive Plan (the "Plan”). Our stock options have contractual terms of ten years and become exercisable over a three-year period. Expense related to stock options is recognized on a straight-line basis over the vesting period. Expense related to restricted stock units ("RSUs") issued to eligible employees under the Plan is recognized over the vesting period, generally between three years and four years. Beginning in 2020, certain RSU grants provide for full vesting when the award recipients retire having reached 60 years of age and having provided at least ten years of service to the Company, provided that the awards remain outstanding for a period of six months from the date of grant. The expense for these awards is recognized over the applicable service period for each of the eligible award recipients. Expense related to RSUs and restricted stock awards ("RSAs") granted to non-employee directors under the Plan is recognized on a straight-line basis over the vesting period, generally one year. Expense related to performance units is recognized on a straight-line basis from their award date to the end of the performance period, generally three years. The following table summarizes stock-based compensation awards granted during the six months ended June 30, 2024: Number of Shares Granted Weighted Average Grant-Date Fair Value per Award Restricted stock units 430,185 $ 30.54 Restricted stock awards 15,903 $ 30.75 Performance units 241,212 $ 29.56 The fair value of RSUs granted is based on the Company's closing stock price on the date of grant. For the performance units granted during the six months ended June 30, 2024 for which the payout is based on relative total shareholder return, the fair value was estimated at the date of grant using a Monte Carlo simulation with assumptions that reflect market conditions at the date of grant, including stock price, risk-free interest rate, expected term, expected volatility, and dividend yield. For the performance units granted during the six months ended June 30, 2024 for which the payout is based on return on equity, the fair value is based on the Company's closing stock price on the date of grant, adjusted to exclude the cumulative value of dividends over the three-year vesting period as these units do not earn dividend equivalents.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Tables)	6 Months Ended
Summary of Significant Accounting Policies (Tables)	Jun. 30, 2024
Accounting Policies [Abstract]
Remaining Performance Obligation	Unsatisfied Performance Obligations The following table includes estimated revenue expected to be recognized in future periods related to performance obligations that are unsatisfied or partially satisfied as of June 30, 2024 and the percentage of the outstanding performance obligations as of June 30, 2024 expected to be delivered during the remainder of 2024: Unsatisfied performance obligations at June 30, 2024 Total Percent expected to be delivered in 2024 (in millions) Rail Products Group: New railcars: External customers $ 2,281.1 Leasing Group 402.1 $ 2,683.2 36.0 % Sustainable railcar conversions $ 19.6 84.7 % Railcar Leasing and Services Group: Leasing and management $ 64.5 15.0 % Maintenance services $ 8.3 100.0 %
Lessee, Operating Leases	The following table summarizes the impact of our operating leases on our Consolidated Financial Statements (in millions, except lease term and discount rate): Three Months Ended Six Months Ended 2024 2023 2024 2023 Consolidated Statements of Operations Operating lease expense $ 5.3 $ 4.4 $ 10.6 $ 8.7 Consolidated Statements of Cash Flows Cash flows from operating activities $ 10.6 $ 8.7 Right-of-use assets recognized in exchange for new lease liabilities $ 2.6 $ 6.4 June 30, 2024 December 31, 2023 Consolidated Balance Sheets Right-of-use assets (1) $ 98.7 $ 100.6 Lease liabilities (2) $ 115.0 $ 118.2 Weighted average remaining lease term 8.9 years 9.3 years Weighted average discount rate (3) 3.7 % 3.6 % (1) Included in other assets in our Consolidated Balance Sheets. (2) Included in other liabilities in our Consolidated Balance Sheets. (3) As the rate implicit in our leases is not readily determinable, we use the incremental borrowing rate of our Trinity Industries Leasing Company ("TILC") warehouse loan facility for railcar leases or our revolving credit facility for operating and administrative leases at lease commencement to determine the present value of lease payments.
Lessee, Operating Lease, Liability, Maturity [Table Text Block]	Future contractual minimum operating lease liabilities will mature as follows (in millions): Railcars in our Lease Fleet Operating and Administrative Total Remaining six months of 2024 $ 4.4 $ 6.1 $ 10.5 2025 8.3 11.0 19.3 2026 7.7 9.9 17.6 2027 7.2 9.1 16.3 2028 5.1 7.7 12.8 Thereafter 6.8 51.4 58.2 Total operating lease payments $ 39.5 $ 95.2 $ 134.7 Less: Present value adjustment (19.7) Total operating lease liabilities $ 115.0
Lessor, Operating Leases	The following table summarizes the impact of our leases on our Consolidated Statements of Operations: Three Months Ended Six Months Ended 2024 2023 2024 2023 (in millions) Operating lease revenues $ 196.0 $ 181.9 $ 387.8 $ 358.6 Variable operating lease revenues $ 20.8 $ 18.1 $ 34.5 $ 32.7 Interest income on sales-type lease receivables $ 0.1 $ 0.2 $ 0.3 $ 0.4
Lessor, Payments to be Received, Maturity [Table Text Block]	Future contractual minimum revenues for operating leases will mature as follows (in millions) (1) : Remaining six months of 2024 $ 362.9 2025 623.5 2026 503.0 2027 377.9 2028 236.1 Thereafter 345.9 Total $ 2,449.3 (1) Total contractual minimum rental revenues on operating leases relates to our wholly-owned and partially-owned subsidiaries and sub-lease rental revenues associated with the Leasing Group's operating lease obligations. Future contractual minimum lease receivables for sales-type leases will mature as follows (in millions): Remaining six months of 2024 $ 0.6 2025 1.1 2026 1.1 2027 1.1 2028 1.1 Thereafter 9.0 Total 14.0 Less: Unearned interest income (4.0) Net investment in sales-type leases (1) $ 10.0 (1) Included in other assets in our Consolidated Balance Sheets.
Schedule of Goodwill	Goodwill by segment is as follows: June 30, 2024 December 31, 2023 Railcar Leasing and Services Group $ 50.6 $ 50.6 Rail Products Group 170.9 170.9 $ 221.5 $ 221.5
Schedule of Product Warranty Liability [Table Text Block]	The changes in the accruals for warranties for the three and six months ended June 30, 2024 and 2023 are as follows: Three Months Ended Six Months Ended 2024 2023 2024 2023 (in millions) Beginning balance $ 2.8 $ 3.9 $ 3.3 $ 3.3 Warranty costs incurred (0.2) (0.5) (0.4) (0.5) Warranty originations and revisions 0.4 2.0 0.2 3.0 Warranty expirations (0.2) (0.2) (0.3) (0.6) Ending balance $ 2.8 $ 5.2 $ 2.8 $ 5.2

Derivative Instruments and Fa_2

Derivative Instruments and Fair Value Accounting (Tables)	6 Months Ended
Derivative Instruments and Fair Value Accounting (Tables)	Jun. 30, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of Interest Rate Derivatives [Table Text Block]	Included in accompanying balance sheet at June 30, 2024 AOCI – loss/(income) Notional Amount Interest Rate (1) Asset/(Liability) Controlling Interest Noncontrolling Interest ($ in millions) Expired hedges: 2018 secured railcar equipment notes $ 249.3 4.41 % $ — $ 0.2 $ — Tribute Rail secured railcar equipment notes $ 256.0 2.86 % $ — $ 0.3 $ 0.4 2017 promissory notes – interest rate cap $ 169.3 3.00 % $ — $ (0.1) $ — Open hedges: 2017 promissory notes – interest rate swap $ 394.7 2.31 % $ 12.7 $ (12.3) $ — TRL-2023 term loan $ 263.2 3.79 % $ 2.9 $ (2.8) $ — (1) Weighted average fixed interest rate, except for the interest rate cap on the 2017 promissory notes.
Derivative Instruments, Gain (Loss)	Effect on interest expense – increase/(decrease) Three Months Ended Six Months Ended Expected effect during next twelve months 2024 2023 2024 2023 (in millions) Expired hedges: 2018 secured railcar equipment notes $ 0.1 $ 0.1 $ 0.1 $ 0.1 $ 0.2 TRIP Holdings warehouse loan $ — $ — $ — $ 0.1 $ — Tribute Rail secured railcar equipment notes $ 0.1 $ 0.2 $ 0.3 $ 0.4 $ 0.7 2017 promissory notes – interest rate cap $ — $ — $ — $ — $ (0.1) Open hedges (1) : 2017 promissory notes – interest rate swap $ (3.0) $ (2.9) $ (6.1) $ (5.4) $ (12.2) TRL-2023 term loan $ (1.1) $ (0.2) $ (2.1) $ (0.2) $ (2.9) (1) Based on the fair value of open hedges as of June 30, 2024. Foreign Currency Hedges Our exposure related to foreign currency transactions is currently hedged for up to a maximum of eighteen months. Information related to our foreign currency hedges is as follows: Included in accompanying balance sheet at June 30, 2024 Effect on cost of revenues – Notional Asset/ (Liability) AOCI – Three Months Ended Six Months Ended Expected effect during next twelve months (1) Instrument 2024 2023 2024 2023 (in millions) Forward contracts $ 128.3 $ (4.5) $ 3.3 $ (3.1) $ (2.2) $ (4.6) $ (3.9) $ 3.0 Options (2) $ — $ — $ 0.1 $ (0.1) $ — $ 0.2 $ — $ 0.1 (1) Based on the fair value of open hedges as of June 30, 2024. (2) The foreign currency options matured in June 2024.
Derivatives Not Designated as Hedging Instruments	Derivatives Not Designated as Hedging Instruments (1) Asset/(Liability) at June 30, 2024 Effect on other, net (income) expense – Notional Interest Three Months Ended Six Months Ended 2024 2023 2024 2023 ($ in millions) Interest rate derivatives – open: TILC warehouse facility – interest rate cap $ 680.0 2.50 % $ 35.5 $ (4.4) $ — $ (3.7) $ — TILC – interest rate cap (2) $ 680.0 2.50 % $ (35.5) $ 4.4 $ — $ 6.8 $ — Interest rate derivatives – expired (3) : TILC warehouse facility – interest rate cap $ 800.0 2.50 % $ — $ 0.9 $ (4.3) $ 1.9 $ (5.2) TILC – interest rate cap $ 800.0 2.50 % $ — $ (0.9) $ 4.3 $ (1.9) $ 5.2 (1) Comprised of back-to-back interest rate caps entered into with the same counterparty in connection with our risk management objectives. (2) The amount recorded to other, net (income) expense in our Consolidated Statements of Operations for the six months ended June 30, 2024 includes a fee of $3.1 million related to the execution of back-to-back interest rate caps associated with the new TILC warehouse loan facility. See Note 8 for further information. (3) These interest rate caps matured in March 2024 and were settled in April 2024.
Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block]	The assets measured on a recurring basis as Level 1 in the fair value hierarchy are summarized below: Level 1 June 30, 2024 December 31, 2023 (in millions) Assets: Cash equivalents $ 124.2 $ 78.7 Restricted cash 107.1 129.4 Total assets $ 231.3 $ 208.1
Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block]	The assets and liabilities measured on a recurring basis as Level 2 in the fair value hierarchy are summarized below: Level 2 June 30, 2024 December 31, 2023 (in millions) Assets (1) : Derivatives designated as hedging instruments: Interest rate hedges $ 15.6 $ 13.1 Foreign currency forward contracts — 5.8 Foreign currency options — 1.0 Derivatives not designated as hedging instruments: TILC warehouse facility – interest rate caps 35.5 6.6 Total assets $ 51.1 $ 26.5 Liabilities (2) : Derivatives designated as hedging instruments: Interest rate hedges $ — $ 2.5 Foreign currency foreign contracts 4.5 — Derivatives not designated as hedging instruments: TILC – interest rate caps 35.5 6.6 Total liabilities $ 40.0 $ 9.1 (1) Included in other assets in our Consolidated Balance Sheets. (2) Included in accrued liabilities in our Consolidated Balance Sheets.	[1],[2]

[1] Included in other assets in our Consolidated Balance Sheets. Included in other liabilities in our Consolidated Balance Sheets.

Segment Information (Tables)

Segment Information (Tables)	6 Months Ended
Segment Information (Tables)	Jun. 30, 2024
Segment Reporting [Abstract]
Schedule of Segment Reporting Information, by Segment [Table Text Block]	The financial information for these segments is shown in the tables below (in millions). We operate principally in North America. Three Months Ended June 30, 2024 Railcar Leasing and Services Group Rail Products Group Eliminations Consolidated Total External revenue $ 280.5 $ 560.9 $ — $ 841.4 Intersegment revenue 0.9 73.3 (74.2) — Total revenues $ 281.4 $ 634.2 $ (74.2) $ 841.4 Three Months Ended June 30, 2023 Railcar Leasing and Services Group Rail Products Group Eliminations Consolidated Total External revenue $ 267.8 $ 454.6 $ — $ 722.4 Intersegment revenue 0.5 200.8 (201.3) — Total revenues $ 268.3 $ 655.4 $ (201.3) $ 722.4 Six Months Ended June 30, 2024 Railcar Leasing and Services Group Rail Products Group Eliminations Consolidated Total External revenue $ 564.8 $ 1,086.2 $ — $ 1,651.0 Intersegment revenue 1.8 215.4 (217.2) — Total revenues $ 566.6 $ 1,301.6 $ (217.2) $ 1,651.0 Six Months Ended June 30, 2023 Railcar Leasing and Services Group Rail Products Group Eliminations Consolidated Total External revenue $ 500.5 $ 863.6 $ — $ 1,364.1 Intersegment revenue 0.7 379.4 (380.1) — Total revenues $ 501.2 $ 1,243.0 $ (380.1) $ 1,364.1
Reconciliation of Operating Profit (Loss) from Segments to Consolidated	The reconciliation of segment operating profit to consolidated net income is as follows: Three Months Ended Six Months Ended 2024 2023 2024 2023 (in millions) Operating profit: Railcar Leasing and Services Group $ 128.0 $ 116.1 $ 228.3 $ 200.7 Rail Products Group 50.4 24.3 94.2 48.4 Segment Totals 178.4 140.4 322.5 249.1 Corporate and other (33.3) (31.6) (59.8) (57.6) Restructuring activities, net — 1.8 — 2.2 Eliminations (3.2) (11.5) (5.6) (25.6) Consolidated operating profit 141.9 99.1 257.1 168.1 Other (income) expense 66.7 68.2 139.2 131.9 Provision (benefit) for income taxes 17.1 7.4 28.1 (4.1) Loss from discontinued operations, net of income taxes (1.7) (2.3) (6.0) (5.4) Net income $ 56.4 $ 21.2 $ 83.8 $ 34.9

Railcar Leasing and Services _2

Railcar Leasing and Services Group (Tables)	6 Months Ended
Railcar Leasing and Services Group (Tables)	Jun. 30, 2024
Sale Leaseback Transaction [Line Items]
Selected consolidating income statement information for the Leasing Group	Information related to the Leasing Group is as follows: Three Months Ended June 30, Six Months Ended June 30, 2024 2023 Percent 2024 2023 Percent ($ in millions) Change ($ in millions) Change Revenues: Leasing and management $ 221.9 $ 203.8 8.9 % $ 430.9 $ 398.5 8.1 % Maintenance services (1) 49.0 45.1 8.6 % 114.2 74.5 53.3 % Digital and logistics services 10.5 19.4 (45.9) % 21.5 28.2 (23.8) % Total revenues $ 281.4 $ 268.3 4.9 % $ 566.6 $ 501.2 13.0 % Cost of revenues (2) $ 157.4 $ 167.6 (6.1) % 327.0 314.4 4.0 % Selling, engineering, and administrative expenses 20.0 15.2 31.6 % 38.1 32.1 18.7 % Gains on dispositions of property: Lease portfolio sales 22.7 29.8 * 24.8 43.3 * Other 1.3 0.8 * 2.0 2.7 * Total operating profit $ 128.0 $ 116.1 10.2 % $ 228.3 $ 200.7 13.8 % Total operating profit margin 45.5 % 43.3 % 40.3 % 40.0 % Total operating profit margin, excluding lease portfolio sales 37.4 % 32.2 % 35.9 % 31.4 % Selected expense information for Company-owned railcars (3) : Depreciation and amortization expense (4) $ 60.1 $ 59.2 1.5 % $ 120.0 $ 120.8 (0.7) % Maintenance and compliance expense (5) $ 35.0 $ 32.8 6.7 % $ 65.4 $ 67.6 (3.3) % Other fleet operating costs (6) $ 8.1 $ 8.2 (1.2) % $ 15.8 $ 17.4 (9.2) % Interest expense (7) $ 60.4 $ 57.0 6.0 % $ 117.8 $ 111.8 5.4 % * Not meaningful (1) Revenues related to services performed by the maintenance services business to support the railcars in our lease fleet are eliminated within the Railcar Leasing & Services Group and are excluded from the totals reported on this line. (2) Includes depreciation and amortization expense, maintenance and compliance expense, and other fleet operating costs related to our lease fleet, as well as operating costs for our maintenance services and digital and logistics services businesses. (3) Includes wholly-owned railcars, partially-owned railcars, and railcars under leased-in arrangements. (4) Depreciation and amortization expense includes $0.8 million and $5.5 million for the three and six months ended June 30, 2023, respectively, related to the disposal of certain railcar components associated with our sustainable railcar conversion program. Additionally, amortization of deferred profit on railcars sold from the Rail Products Group to the Leasing Group is included in depreciation and amortization expense, resulting in the recognition of depreciation expense based on our original manufacturing cost of the railcars. (5) Maintenance and compliance expense is reported at cost with respect to the services performed by our maintenance services business to support the railcars in our lease fleet. (6) Other fleet operating costs include freight, storage, rent, and ad valorem taxes. (7) Interest expense is not a component of operating profit and includes the effect of hedges.
Schedule of proceeds from leased railcars	Information related to lease portfolio sales is as follows: Three Months Ended Six Months Ended 2024 2023 2024 2023 ($ in millions) Lease portfolio sales $ 162.5 $ 129.0 $ 186.7 $ 185.7 Operating profit on lease portfolio sales $ 22.7 $ 29.8 $ 24.8 $ 43.3 Operating profit margin on lease portfolio sales 14.0 % 23.1 % 13.3 % 23.3 %
Future contractual minimum rental revenues on leases	Future contractual minimum rental revenues on operating leases related to our wholly-owned and partially-owned subsidiaries are as follows: Remaining six months of 2024 2025 2026 2027 2028 Thereafter Total (in millions) Future contractual minimum rental revenues $ 357.1 $ 613.8 $ 495.8 $ 375.6 $ 235.4 $ 344.2 $ 2,421.9
Other Third Parties [Member]
Sale Leaseback Transaction [Line Items]
Future operating lease obligations and future contractual minimum rental revenues	Future amounts due as well as future contractual minimum rental revenues related to the Leasing Group's railcar operating lease obligations are as follows: Remaining six months of 2024 2025 2026 2027 2028 Thereafter Total (in millions) Future operating lease obligations $ 4.4 $ 8.3 $ 7.7 $ 7.2 $ 5.1 $ 6.8 $ 39.5 Future contractual minimum rental revenues $ 5.8 $ 9.7 $ 7.2 $ 2.3 $ 0.7 $ 1.7 $ 27.4

Property, Plant, and Equipment

Property, Plant, and Equipment (Tables)	6 Months Ended
Property, Plant, and Equipment (Tables)	Jun. 30, 2024
Property, Plant and Equipment [Abstract]
Property, Plant and Equipment [Table Text Block]	The following table summarizes the components of property, plant, and equipment: June 30, 2024 December 31, 2023 (in millions) Railcars in our lease fleet: Wholly-owned subsidiaries: Equipment on lease $ 7,570.9 $ 7,536.7 Less: accumulated depreciation (1,686.7) (1,604.9) 5,884.2 5,931.8 Partially-owned subsidiaries: Equipment on lease 2,239.0 2,236.6 Less: accumulated depreciation (792.2) (763.4) 1,446.8 1,473.2 Deferred profit on railcar products sold (1) (1,054.0) (1,061.3) Less: accumulated amortization 324.1 311.1 (729.9) (750.2) Total railcars in our lease fleet 6,601.1 6,654.8 Operating and administrative assets: Land 16.3 16.1 Buildings and improvements 383.7 380.4 Machinery and other 422.6 419.8 Construction in progress 14.5 11.3 837.1 827.6 Less: accumulated depreciation (495.9) (477.6) Total operating and administrative assets 341.2 350.0 Total property, plant, and equipment, net $ 6,942.3 $ 7,004.8 (1) Includes deferred profit related to new railcar additions, sustainable railcar conversions, railcar modifications, and other betterments. The deferred profit is subsequently eliminated in consolidation.

Debt (Tables)

Debt (Tables)	6 Months Ended
Debt (Tables)	Jun. 30, 2024
Debt Disclosure [Abstract]
Components of debt	The carrying amounts of our debt are as follows: June 30, 2024 December 31, 2023 (in millions) Corporate – Recourse: Revolving credit facility $ — $ — Senior notes due 2024, net of unamortized discount of $— and $0.1 — 399.9 Senior notes due 2028, inclusive of unamortized premium of $4.9 and $— 604.9 400.0 604.9 799.9 Less: unamortized debt issuance costs (7.4) (5.3) Total recourse debt 597.5 794.6 Lease fleet – Non-recourse: Wholly-owned subsidiaries: Secured railcar equipment notes, net of unamortized discount of $0.3 and $0.2 2,516.6 2,246.7 2017 promissory notes, net of unamortized discount of $2.5 and $3.5 652.5 673.7 TRL-2023 term loan 329.0 334.5 TILC warehouse facility 488.2 529.3 Other equipment financing 51.2 52.3 4,037.5 3,836.5 Less: unamortized debt issuance costs (17.9) (17.3) 4,019.6 3,819.2 Partially-owned subsidiaries: Secured railcar equipment notes, net of unamortized discount of $0.1 and $0.1 1,116.5 1,147.8 Less: unamortized debt issuance costs (6.2) (7.4) 1,110.3 1,140.4 Total non-recourse debt 5,129.9 4,959.6 Total debt $ 5,727.4 $ 5,754.2 June 30, 2024 December 31, 2023 (in millions) Level 2 $ 620.1 $ 812.1 Level 3 $ 3,465.9 $ 3,192.7

Employee Retirement Plans (Tabl

Employee Retirement Plans (Tables)	6 Months Ended
Employee Retirement Plans (Tables)	Jun. 30, 2024
Retirement Benefits [Abstract]
Schedule of Costs of Retirement Plans [Table Text Block]	Amounts related to our employee retirement plans are as follows: Three Months Ended June 30, Six Months Ended 2024 2023 2024 2023 (in millions) Defined contribution expense $ 2.9 $ 2.6 $ 5.9 $ 5.0

Accumulated Other Comprehensi_2

Accumulated Other Comprehensive Loss (Tables)	6 Months Ended
Accumulated Other Comprehensive Loss (Tables)	Jun. 30, 2024
Equity [Abstract]
Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block]	Changes in AOCI for the six months ended June 30, 2024 are as follows: Unrealized gains/(losses) on derivative financial instruments Net actuarial gains/(losses) of defined benefit plans Accumulated other comprehensive income (loss) (in millions) Balances at December 31, 2023 $ 12.4 $ (1.4) $ 11.0 Other comprehensive income, net of tax, before reclassifications 5.9 — 5.9 Amounts reclassified from AOCI, net of tax expense of $2.9, $—, and $2.9 (9.3) — (9.3) Less: noncontrolling interest (0.2) — (0.2) Other comprehensive loss (3.6) — (3.6) Balances at June 30, 2024 $ 8.8 $ (1.4) $ 7.4

Common Stock and Stock-Based _3

Common Stock and Stock-Based Compensation Stock Based Compensation (Tables)	6 Months Ended
	Jun. 30, 2024
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Payment Arrangement, Activity [Table Text Block]	The following table summarizes stock-based compensation awards granted during the six months ended June 30, 2024: Number of Shares Granted Weighted Average Grant-Date Fair Value per Award Restricted stock units 430,185 $ 30.54 Restricted stock awards 15,903 $ 30.75 Performance units 241,212 $ 29.56

Earnings Per Common Share (Tabl

Earnings Per Common Share (Tables)	6 Months Ended
Earnings Per Common Share (Tables)	Jun. 30, 2024
Earnings Per Share [Abstract]
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]	The following table sets forth the computation of basic and diluted net income attributable to Trinity Industries, Inc. Three Months Ended June 30, Six Months Ended 2024 2023 2024 2023 (in millions, except per share amounts) Income from continuing operations $ 58.1 $ 23.5 $ 89.8 $ 40.3 Less: Net income attributable to noncontrolling interest (2.0) (4.2) (5.7) (13.5) Net income from continuing operations attributable to Trinity Industries, Inc. 56.1 19.3 84.1 26.8 Net loss from discontinued operations attributable to Trinity Industries, Inc. (1.7) (2.3) (6.0) (5.4) Net income attributable to Trinity Industries, Inc. $ 54.4 $ 17.0 $ 78.1 $ 21.4 Basic weighted average shares outstanding 82.4 81.2 81.7 81.0 Effect of dilutive securities 1.7 2.2 1.7 2.5 Diluted weighted average shares outstanding 84.1 83.4 83.4 83.5 Basic earnings per common share: Income from continuing operations $ 0.68 $ 0.24 $ 1.03 $ 0.33 Loss from discontinued operations (0.02) (0.03) (0.07) (0.07) Basic net income attributable to Trinity Industries, Inc. $ 0.66 $ 0.21 $ 0.96 $ 0.26 Diluted earnings per common share: Income from continuing operations $ 0.67 $ 0.23 $ 1.01 $ 0.32 Loss from discontinued operations (0.02) (0.03) (0.07) (0.06) Diluted net income attributable to Trinity Industries, Inc. $ 0.65 $ 0.20 $ 0.94 $ 0.26 Potentially dilutive securities excluded from EPS calculation: Antidilutive restricted shares 0.2 0.1 0.2 0.1 Antidilutive stock options — — — —

Summary of Significant Accoun_3

Summary of Significant Accounting Policies Revenue Recognition and Remaining performance obligation (Details) - USD ($) $ in Millions	Jun. 30, 2024	Dec. 31, 2023
Rail Products Group [Member]
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Billed Contracts Receivable	$ 3.2	$ 12.6
Rail Products Group [Member] \| Rail Products [Domain]
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, Remaining Performance Obligation, Amount	$ 2,683.2
Revenue, remaining performance obligation expected to be delivered in current year	36%
Rail Products Group [Member] \| Rail Products [Domain] \| External Customers
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, Remaining Performance Obligation, Amount	$ 2,281.1
Rail Products Group [Member] \| Rail Products [Domain] \| Leasing & Services
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, Remaining Performance Obligation, Amount	402.1
Rail Products Group [Member] \| Sustainable Railcar Conversions
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, Remaining Performance Obligation, Amount	$ 19.6
Revenue, remaining performance obligation expected to be delivered in current year	84.70%
Leasing & Services
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Billed Contracts Receivable	$ 12.9	$ 8.8
Leasing & Services \| Leasing and Management [Member]
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, Remaining Performance Obligation, Amount	$ 64.5
Revenue, remaining performance obligation expected to be delivered in current year	15%
Leasing & Services \| Maintenance services
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, Remaining Performance Obligation, Amount	$ 8.3
Revenue, remaining performance obligation expected to be delivered in current year	100%

Summary of Significant Accoun_4

Summary of Significant Accounting Policies Lessee Accounting (Details) - USD ($) $ in Millions		3 Months Ended		6 Months Ended
		Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023
Lessee, Lease, Description [Line Items]
Lessee, Operating Lease, Renewal Term		5 years		5 years
Lessee, Operating Lease, Option to Terminate				one year
Finance Lease, Principal Payments				$ 0
Operating lease expense		$ 5.3	$ 4.4	10.6	$ 8.7
Cash flows from operating activities				10.6	8.7
Right-of-use assets recognized in exchange for new lease liabilities				2.6	$ 6.4
Right-of-use assets (1)	[1]	98.7		98.7		$ 100.6
Lease liabilities (2)	[2]	$ 115		$ 115		$ 118.2
Weighted average remaining lease term		8 years 10 months 24 days		8 years 10 months 24 days		9 years 3 months 18 days
Weighted average discount rate (3)	[3]	3.70%		3.70%		3.60%
Remaining six months of 2024		$ 10.5		$ 10.5
2025		19.3		19.3
2026		17.6		17.6
2027		16.3		16.3
2028		12.8		12.8
Thereafter		58.2		58.2
Lessee, Operating Lease, Liability, to be Paid, Total		134.7		134.7
Less: Present value adjustment		(19.7)		(19.7)
Railcars on Lease [Member]
Lessee, Lease, Description [Line Items]
Remaining six months of 2024		4.4		4.4
2025		8.3		8.3
2026		7.7		7.7
2027		7.2		7.2
2028		5.1		5.1
Thereafter		6.8		6.8
Lessee, Operating Lease, Liability, to be Paid, Total		39.5		39.5
Operating & Administrative Assets [Member]
Lessee, Lease, Description [Line Items]
Remaining six months of 2024		6.1		6.1
2025		11		11
2026		9.9		9.9
2027		9.1		9.1
2028		7.7		7.7
Thereafter		51.4		51.4
Lessee, Operating Lease, Liability, to be Paid, Total		$ 95.2		$ 95.2
Minimum
Lessee, Lease, Description [Line Items]
Lessee, Operating Lease, Term of Contract		1 year		1 year
Maximum
Lessee, Lease, Description [Line Items]
Lessee, Operating Lease, Term of Contract		13 years		13 years

[1] Included in other assets in our Consolidated Balance Sheets. Included in other liabilities in our Consolidated Balance Sheets. As the rate implicit in our leases is not readily determinable, we use the incremental borrowing rate of our Trinity Industries Leasing Company ("TILC") warehouse loan facility for railcar leases or our revolving credit facility for operating and administrative leases at lease commencement to determine the present value of lease payments.

Summary of Significant Accoun_5

Summary of Significant Accounting Policies Lessor Accounting (Details) - USD ($) $ in Millions		3 Months Ended		6 Months Ended
		Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Lessor, Lease, Description [Line Items]
Lessor, Operating Lease, Renewal Term		5 years		5 years
Direct Financing Lease, Revenue				$ 0
Operating lease revenues		$ 196	$ 181.9	387.8	$ 358.6
Variable operating lease revenues		20.8	18.1	34.5	32.7
Interest income on sales-type lease receivables		0.1	$ 0.2	0.3	$ 0.4
Sales-Type and Direct Financing Leases, Lease Receivable, to be Received, Remainder of Fiscal Year		0.6		0.6
Sales-Type and Direct Financing Leases, Lease Receivable, to be Received, Year Two		1.1		1.1
Sales-Type and Direct Financing Leases, Lease Receivable, to be Received, Year Three		1.1		1.1
Sales-Type and Direct Financing Leases, Lease Receivable, to be Received, Year Four		1.1		1.1
Sales-Type and Direct Financing Leases, Lease Receivable, to be Received, Year Five		1.1		1.1
Sales-Type and Direct Financing Leases, Lease Receivable, to be Received, after Year Five		9		9
Sales-type and Direct Financing Leases, Lease Receivable, Payments to be Received		14		14
Less: Unearned interest income		(4)		(4)
Net investment in sales-type leases (1)	[1]	10		10
Railcar Leasing and Services Group [Member]
Lessor, Lease, Description [Line Items]
Remaining six months of 2024	[2]	362.9		362.9
2025	[2]	623.5		623.5
2026	[2]	503		503
2027	[2]	377.9		377.9
2028	[2]	236.1		236.1
Thereafter	[2]	345.9		345.9
Total	[2]	$ 2,449.3		$ 2,449.3
Minimum \| Railcar Leasing and Services Group [Member]
Lessor, Lease, Description [Line Items]
Lessor, Operating Lease, Term of Contract		1 year		1 year
Maximum \| Railcar Leasing and Services Group [Member]
Lessor, Lease, Description [Line Items]
Lessor, Operating Lease, Term of Contract		10 years		10 years

[1]Included in other assets in our Consolidated Balance Sheets[2] Total contractual minimum rental revenues on operating leases relates to our wholly-owned and partially-owned subsidiaries and sub-lease rental revenues associated with the Leasing Group's operating lease obligations.

Summary of Significant Accoun_6

Summary of Significant Accounting Policies Receivables (Details) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2024	Dec. 31, 2023
Credit Loss [Abstract]
Accounts Receivable, Credit Loss Expense (Reversal)	$ 2.3
Allowance for Loan and Lease Losses, Write-offs	1
Accounts Receivable, Allowance for Credit Loss	$ 14.1	$ 12.8

Summary of Significant Accoun_7

Summary of Significant Accounting Policies SCF Program (Details) - USD ($) $ in Millions	Jun. 30, 2024	Dec. 31, 2023
Supplier Finance Program [Line Items]
Supplier Finance Program, Obligation	$ 18.6	$ 18.3

Summary of Significant Accoun_8

Summary of Significant Accounting Policies Goodwill (Details) - USD ($) $ in Millions	Jun. 30, 2024	Dec. 31, 2023
Goodwill [Line Items]
Goodwill	$ 221.5	$ 221.5
Leasing & Services
Goodwill [Line Items]
Goodwill	50.6	50.6
Rail Products Group [Member]
Goodwill [Line Items]
Goodwill	$ 170.9	$ 170.9

Summary of Significant Accoun_9

Summary of Significant Accounting Policies Warranties (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Mar. 31, 2024	Dec. 31, 2023	Mar. 31, 2023	Dec. 31, 2022
Product Warranty Liability [Line Items]
Standard Product Warranty Accrual	$ 2.8	$ 5.2	$ 2.8	$ 5.2	$ 2.8	$ 3.3	$ 3.9	$ 3.3
Warranty costs incurred	(0.2)	(0.5)	(0.4)	(0.5)
Warranty originations and revisions	0.4	2	0.2	3
Warranty expirations	$ (0.2)	$ (0.2)	$ (0.3)	$ (0.6)
Minimum
Product Warranty Liability [Line Items]
Product Warranty Period			1 year
Maximum
Product Warranty Liability [Line Items]
Product Warranty Period			5 years

Acquisitions and Discontinued_2

Acquisitions and Discontinued Operations - Acquisitions (Details) - USD ($) $ in Millions	6 Months Ended		12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023	Dec. 31, 2022
Business Combination, Separately Recognized Transactions [Line Items]
Business Combination, Consideration Transferred, Other	$ 10
Payments to settle contingent consideration liability	8	$ 0
Payment for Contingent Consideration Liability, Operating Activities	2
Holden America \| Holden America
Business Combination, Separately Recognized Transactions [Line Items]
Business Combination, Contingent Consideration Arrangements, Range of Outcomes, Value, Low				$ 10
Business Combination, Contingent Consideration Arrangements, Range of Outcomes, Value, Low, Per Year				5
Business Combination, Contingent Consideration Arrangement, Maximum Unlimited				$ 10
Business Combination, Contingent Consideration, Liability	$ 10		$ 20
RSI Logistics
Business Combination, Separately Recognized Transactions [Line Items]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill			35.7
Goodwill, Acquired During Period			$ 25.6

Acquisitions and Discontinued_3

Acquisitions and Discontinued Operations - Discontinued Operations (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Loss from discontinued operations, net of benefit for income taxes of $0.5, $0.7, $1.8, and $1.5	$ (1.7)	$ (2.3)	$ (6)	$ (5.4)
Sale of Highway Products
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Discontinued Operation, Income (Loss) from Discontinued Operation, before Income Tax	(2.2)	(3)	(7.8)	(6.9)
Loss from discontinued operations, net of benefit for income taxes of $0.5, $0.7, $1.8, and $1.5	$ (1.7)	$ (2.3)	$ (6)	$ (5.4)

Derivative Instruments and Fa_3

Derivative Instruments and Fair Value Accounting Derivative Instruments (Details) - USD ($) $ in Millions		Jun. 30, 2024	Mar. 31, 2024	Dec. 31, 2023	Jun. 30, 2023	Mar. 31, 2023	Dec. 31, 2022
Derivative [Line Items]
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest		$ 1,304	$ 1,288.5	$ 1,275.5	$ 1,249	$ 1,250.4	$ 1,269.6
Designated as Hedging Instrument [Member] \| Interest Rate Swap, Expired, 2018 Secured Railcar Equipment Notes [Member]
Derivative [Line Items]
Derivative, Notional Amount		$ 249.3
Derivative, Average Fixed Interest Rate	[1]	4.41%
Derivative Asset		$ 0
Designated as Hedging Instrument [Member] \| Interest Rate Swap, Expired, Tribute Rail Secured Railcar Equipment Notes
Derivative [Line Items]
Derivative, Notional Amount		$ 256
Derivative, Average Fixed Interest Rate	[1]	2.86%
Derivative Asset		$ 0
Designated as Hedging Instrument [Member] \| Interest Rate Cap [Member]
Derivative [Line Items]
Derivative, Notional Amount		$ 169.3
Derivative, Cap Interest Rate		3%
Derivative Asset		$ 0
Designated as Hedging Instrument [Member] \| Interest Rate Swap, 2017 Promissory Notes
Derivative [Line Items]
Derivative, Notional Amount		$ 394.7
Derivative, Average Fixed Interest Rate	[1]	2.31%
Derivative Asset		$ 12.7
Designated as Hedging Instrument [Member] \| Interest Rate Swap, TRL-2023 Term Loan
Derivative [Line Items]
Derivative, Notional Amount		$ 263.2
Derivative, Average Fixed Interest Rate	[1]	3.79%
Derivative Asset		$ 2.9
Accumulated Net Gain (Loss) from Cash Flow Hedges Attributable to Parent [Member] \| Designated as Hedging Instrument [Member] \| Interest Rate Swap, Expired, 2018 Secured Railcar Equipment Notes [Member]
Derivative [Line Items]
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest		0.2
Accumulated Net Gain (Loss) from Cash Flow Hedges Attributable to Parent [Member] \| Designated as Hedging Instrument [Member] \| Interest Rate Swap, Expired, Tribute Rail Secured Railcar Equipment Notes
Derivative [Line Items]
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest		0.3
Accumulated Net Gain (Loss) from Cash Flow Hedges Attributable to Parent [Member] \| Designated as Hedging Instrument [Member] \| Interest Rate Cap [Member]
Derivative [Line Items]
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest		(0.1)
Accumulated Net Gain (Loss) from Cash Flow Hedges Attributable to Parent [Member] \| Designated as Hedging Instrument [Member] \| Interest Rate Swap, 2017 Promissory Notes
Derivative [Line Items]
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest		(12.3)
Accumulated Net Gain (Loss) from Cash Flow Hedges Attributable to Parent [Member] \| Designated as Hedging Instrument [Member] \| Interest Rate Swap, TRL-2023 Term Loan
Derivative [Line Items]
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest		(2.8)
Accumulated Net Gain (Loss) from Cash Flow Hedges Attributable to Noncontrolling Interest [Member] \| Designated as Hedging Instrument [Member] \| Interest Rate Swap, Expired, 2018 Secured Railcar Equipment Notes [Member]
Derivative [Line Items]
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest		0
Accumulated Net Gain (Loss) from Cash Flow Hedges Attributable to Noncontrolling Interest [Member] \| Designated as Hedging Instrument [Member] \| Interest Rate Swap, Expired, Tribute Rail Secured Railcar Equipment Notes
Derivative [Line Items]
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest		0.4
Accumulated Net Gain (Loss) from Cash Flow Hedges Attributable to Noncontrolling Interest [Member] \| Designated as Hedging Instrument [Member] \| Interest Rate Cap [Member]
Derivative [Line Items]
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest		0
Accumulated Net Gain (Loss) from Cash Flow Hedges Attributable to Noncontrolling Interest [Member] \| Designated as Hedging Instrument [Member] \| Interest Rate Swap, 2017 Promissory Notes
Derivative [Line Items]
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest		0
Accumulated Net Gain (Loss) from Cash Flow Hedges Attributable to Noncontrolling Interest [Member] \| Designated as Hedging Instrument [Member] \| Interest Rate Swap, TRL-2023 Term Loan
Derivative [Line Items]
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest		$ 0

[1]Weighted average fixed interest rate, except for the interest rate cap on the 2017 promissory notes

Derivative Instruments and Fa_4

Derivative Instruments and Fair Value Accounting Derivative Effect on Interest (Details) - Interest Expense [Member] - Designated as Hedging Instrument [Member] - USD ($) $ in Millions		3 Months Ended		6 Months Ended
		Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Interest Rate Swap, Expired, 2018 Secured Railcar Equipment Notes [Member]
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative Instrument, Gain (Loss) Reclassified from AOCI into Income, Effective Portion, Statement of Income or Comprehensive Income [Extensible Enumeration]		Interest Income (Expense), Operating	Interest Income (Expense), Operating	Interest Income (Expense), Operating	Interest Income (Expense), Operating
Interest Rate Cash Flow Hedge Gain (Loss) to be Reclassified During Next 12 Months, Net		$ 0.2		$ 0.2
Interest Rate Swap, Expired, TRIP Holdings Warehouse Loan [Member]
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative Instrument, Gain (Loss) Reclassified from AOCI into Income, Effective Portion, Statement of Income or Comprehensive Income [Extensible Enumeration]		Interest Income (Expense), Operating	Interest Income (Expense), Operating	Interest Income (Expense), Operating	Interest Income (Expense), Operating
Interest Rate Cash Flow Hedge Gain (Loss) to be Reclassified During Next 12 Months, Net		$ 0		$ 0
Interest Rate Swap, Expired, Tribute Rail Secured Railcar Equipment Notes
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative Instrument, Gain (Loss) Reclassified from AOCI into Income, Effective Portion, Statement of Income or Comprehensive Income [Extensible Enumeration]		Interest Income (Expense), Operating	Interest Income (Expense), Operating	Interest Income (Expense), Operating	Interest Income (Expense), Operating
Interest Rate Cash Flow Hedge Gain (Loss) to be Reclassified During Next 12 Months, Net		$ 0.7		$ 0.7
Interest Rate Cap [Member]
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative Instrument, Gain (Loss) Reclassified from AOCI into Income, Effective Portion, Statement of Income or Comprehensive Income [Extensible Enumeration]		Interest Income (Expense), Operating	Interest Income (Expense), Operating	Interest Income (Expense), Operating	Interest Income (Expense), Operating
Interest Rate Cash Flow Hedge Gain (Loss) to be Reclassified During Next 12 Months, Net		$ (0.1)		$ (0.1)
Interest Rate Swap, 2017 Promissory Notes
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative Instrument, Gain (Loss) Reclassified from AOCI into Income, Effective Portion, Statement of Income or Comprehensive Income [Extensible Enumeration]		Interest Income (Expense), Operating	Interest Income (Expense), Operating	Interest Income (Expense), Operating	Interest Income (Expense), Operating
Interest Rate Cash Flow Hedge Gain (Loss) to be Reclassified During Next 12 Months, Net	[1]	$ (12.2)		$ (12.2)
Interest Rate Swap, TRL-2023 Term Loan
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative Instrument, Gain (Loss) Reclassified from AOCI into Income, Effective Portion, Statement of Income or Comprehensive Income [Extensible Enumeration]		Interest Income (Expense), Operating	Interest Income (Expense), Operating	Interest Income (Expense), Operating	Interest Income (Expense), Operating
Interest Rate Cash Flow Hedge Gain (Loss) to be Reclassified During Next 12 Months, Net	[1]	$ (2.9)		$ (2.9)

[1] Based on the fair value of open hedges as of June 30, 2024.

Derivative Instruments and Fa_5

Derivative Instruments and Fair Value Accounting FX Hedge (Details) - USD ($) $ in Millions		3 Months Ended		6 Months Ended
		Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Mar. 31, 2024	Dec. 31, 2023	Mar. 31, 2023	Dec. 31, 2022
Foreign Currency Fair Value Hedge Derivative [Line Items]
Total stockholders' equity		$ 1,304	$ 1,249	$ 1,304	$ 1,249	$ 1,288.5	$ 1,275.5	$ 1,250.4	$ 1,269.6
Foreign Exchange Forward \| Designated as Hedging Instrument [Member]
Foreign Currency Fair Value Hedge Derivative [Line Items]
Derivative, Notional Amount		128.3		128.3
Derivative Liability		(4.5)		(4.5)
Foreign Exchange Forward \| Accumulated Net Gain (Loss) from Cash Flow Hedges Attributable to Parent [Member] \| Designated as Hedging Instrument [Member]
Foreign Currency Fair Value Hedge Derivative [Line Items]
Total stockholders' equity		$ 3.3		$ 3.3
Foreign Exchange Forward \| Interest Expense [Member] \| Designated as Hedging Instrument [Member]
Foreign Currency Fair Value Hedge Derivative [Line Items]
Derivative Instrument, Gain (Loss) Reclassified from AOCI into Income, Effective Portion, Statement of Income or Comprehensive Income [Extensible Enumeration]		Cost of revenues	Cost of revenues	Cost of revenues	Cost of revenues
Interest Rate Cash Flow Hedge Gain (Loss) to be Reclassified During Next 12 Months, Net	[1]	$ 3		$ 3
Foreign Exchange Option \| Designated as Hedging Instrument [Member]
Foreign Currency Fair Value Hedge Derivative [Line Items]
Derivative, Notional Amount	[2]	0		0
Derivative Liability	[2]	0		0
Foreign Exchange Option \| Accumulated Net Gain (Loss) from Cash Flow Hedges Attributable to Parent [Member] \| Designated as Hedging Instrument [Member]
Foreign Currency Fair Value Hedge Derivative [Line Items]
Total stockholders' equity	[2]	$ 0.1		$ 0.1
Foreign Exchange Option \| Interest Expense [Member] \| Designated as Hedging Instrument [Member]
Foreign Currency Fair Value Hedge Derivative [Line Items]
Derivative Instrument, Gain (Loss) Reclassified from AOCI into Income, Effective Portion, Statement of Income or Comprehensive Income [Extensible Enumeration]	[2]	Cost of revenues	Cost of revenues	Cost of revenues	Cost of revenues
Interest Rate Cash Flow Hedge Gain (Loss) to be Reclassified During Next 12 Months, Net	[1],[2]	$ 0.1		$ 0.1

[1] Based on the fair value of open hedges as of June 30, 2024.

Derivatives Not Designated as H

Derivatives Not Designated as Hedging Instruments (Details) - Not Designated as Hedging Instrument - USD ($) $ in Millions		3 Months Ended		6 Months Ended
		Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024		Jun. 30, 2023
TILC Warehouse Back to Back Swap Agreements - Open
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative, Notional Amount	[1]	$ 680		$ 680
Derivative, Cap Interest Rate	[1]	2.50%		2.50%
Derivative Asset	[1]	$ 35.5		$ 35.5
TILC Warehouse Back to Back Swap Agreements - Open \| Other Operating Income (Expense)
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative, Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration]	[1]	Other Operating Income (Expense), Net	Other Operating Income (Expense), Net	Other Operating Income (Expense), Net		Other Operating Income (Expense), Net
TILC Back to Back Swap Agreements - Open
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative, Notional Amount	[1]	$ 680		$ 680
Derivative, Cap Interest Rate	[1]	2.50%		2.50%
Derivative Liability	[1]	$ (35.5)		$ (35.5)
Interest Rate Derivative Execution Fee				$ 3.1
TILC Back to Back Swap Agreements - Open \| Other Operating Income (Expense)
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative, Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration]	[1]	Other Operating Income (Expense), Net	Other Operating Income (Expense), Net	Other Operating Income (Expense), Net	[2]	Other Operating Income (Expense), Net
TILC Warehouse Back to Back Swap Agreements - Expired [Member]
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative, Notional Amount	[1],[3]	$ 800		$ 800
Derivative, Cap Interest Rate	[1],[3]	2.50%		2.50%
Derivative Asset	[1],[3]	$ 0		$ 0
TILC Warehouse Back to Back Swap Agreements - Expired [Member] \| Other Operating Income (Expense)
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative, Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration]	[1]	Other Operating Income (Expense), Net	Other Operating Income (Expense), Net	Other Operating Income (Expense), Net		Other Operating Income (Expense), Net
TILC Back to Back Swap Agreements - Expired [Member]
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative, Notional Amount	[1],[3]	$ 800		$ 800
Derivative, Cap Interest Rate	[1],[3]	2.50%		2.50%
Derivative Liability	[1],[3]	$ 0		$ 0
TILC Back to Back Swap Agreements - Expired [Member] \| Other Operating Income (Expense)
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative, Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration]	[1]	Other Operating Income (Expense), Net	Other Operating Income (Expense), Net	Other Operating Income (Expense), Net		Other Operating Income (Expense), Net

[1] Comprised of back-to-back interest rate caps entered into with the same counterparty in connection with our risk management objectives. The amount recorded to other, net (income) expense in our Consolidated Statements of Operations for the six months ended June 30, 2024 includes a fee of $3.1 million related to the execution of back-to-back interest rate caps associated with the new TILC warehouse loan facility. See Note 8 for further information.

Derivative Instruments and Fa_6

Derivative Instruments and Fair Value Accounting - Recurring Fair Value Measurement (Details) - Fair Value, Recurring [Member] - USD ($) $ in Millions		Jun. 30, 2024	Dec. 31, 2023
Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Cash and Cash Equivalents, Fair Value Disclosure		$ 124.2	$ 78.7
Restricted cash		107.1	129.4
Assets, Fair Value Disclosure		231.3	208.1
Level 2 \| Other Assets [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Assets, Fair Value Disclosure	[1]	51.1	26.5
Level 2 \| Accrued Liabilities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Liabilities, Fair Value Disclosure	[2]	40	9.1
Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Assets, Fair Value Disclosure		0	0
Liabilities, Fair Value Disclosure		0	0
Interest Rate Swap [Member] \| Level 2 \| Other Assets [Member] \| Designated as Hedging Instrument [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Interest Rate Cash Flow Hedge Asset at Fair Value	[1]	15.6	13.1
Interest Rate Swap [Member] \| Level 2 \| Accrued Liabilities [Member] \| Designated as Hedging Instrument [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Interest Rate Cash Flow Hedge Liability at Fair Value	[2]	0	2.5
Foreign Exchange Forward \| Level 2 \| Other Assets [Member] \| Designated as Hedging Instrument [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Foreign Currency Contract, Asset, Fair Value Disclosure	[1]	0	5.8
Foreign Exchange Forward \| Level 2 \| Accrued Liabilities [Member] \| Designated as Hedging Instrument [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Foreign Currency Contracts, Liability, Fair Value Disclosure	[2]	4.5	0
Foreign Exchange Option \| Level 2 \| Other Assets [Member] \| Designated as Hedging Instrument [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Foreign Currency Contract, Asset, Fair Value Disclosure	[1]	0	1
TILC Warehouse Back to Back Swap Agreements - Expired [Member] \| Level 2 \| Other Assets [Member] \| Not Designated as Hedging Instrument
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Derivative Instruments Not Designated as Hedging Instruments, Asset, at Fair Value	[1]	35.5	6.6
TILC Back to Back Swap Agreements - Expired [Member] \| Level 2 \| Accrued Liabilities [Member] \| Not Designated as Hedging Instrument
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Derivative Instruments Not Designated as Hedging Instruments, Liability, at Fair Value	[2]	$ 35.5	$ 6.6

[1] Included in other assets in our Consolidated Balance Sheets. Included in accrued liabilities in our Consolidated Balance Sheets.

Segment Information - Narrative

Segment Information - Narrative (Details)	6 Months Ended
Segment Information - Narrative (Details)	Jun. 30, 2024 segment
Segment Reporting [Abstract]
Number of Reportable Segments	2

Segment Information - Financial

Segment Information - Financial information for segments (Details) - USD ($) $ in Millions	3 Months Ended				6 Months Ended
	Jun. 30, 2024	Mar. 31, 2024	Jun. 30, 2023	Mar. 31, 2023	Jun. 30, 2024	Jun. 30, 2023
Segment Reporting Information [Line Items]
External Revenue	$ 841.4		$ 722.4		$ 1,651	$ 1,364.1
Intersegment Revenues	0		0		0	0
Revenues, Total	841.4		722.4		1,651	1,364.1
Operating Profit (Loss)	141.9		99.1		257.1	168.1
Restructuring activities, net	0		1.8		0	2.2
Other (income) expense	66.7		68.2		139.2	131.9
Provision (benefit) for income taxes	17.1		7.4		28.1	(4.1)
Loss from discontinued operations, net of benefit for income taxes of $0.5, $0.7, $1.8, and $1.5	(1.7)		(2.3)		(6)	(5.4)
Net income	56.4	$ 27.4	21.2	$ 13.7	83.8	34.9
Operating Segments [Member]
Segment Reporting Information [Line Items]
Revenues, Total	841.4		722.4		1,651	1,364.1
Operating Profit (Loss)	178.4		140.4		322.5	249.1
Intersegment Eliminations [Member]
Segment Reporting Information [Line Items]
Intersegment Revenues	(74.2)		(201.3)		(217.2)	(380.1)
Revenues, Total	(74.2)		(201.3)		(217.2)	(380.1)
Operating Profit (Loss)	(3.2)		(11.5)		(5.6)	(25.6)
Leasing & Services
Segment Reporting Information [Line Items]
External Revenue	280.5		267.8		564.8	500.5
Leasing & Services \| Operating Segments [Member]
Segment Reporting Information [Line Items]
Revenues, Total	281.4		268.3		566.6	501.2
Operating Profit (Loss)	128		116.1		228.3	200.7
Leasing & Services \| Intersegment Eliminations [Member]
Segment Reporting Information [Line Items]
Intersegment Revenues	0.9		0.5		1.8	0.7
Rail Products Group [Member]
Segment Reporting Information [Line Items]
External Revenue	560.9		454.6		1,086.2	863.6
Rail Products Group [Member] \| Operating Segments [Member]
Segment Reporting Information [Line Items]
Revenues, Total	634.2		655.4		1,301.6	1,243
Operating Profit (Loss)	50.4		24.3		94.2	48.4
Rail Products Group [Member] \| Intersegment Eliminations [Member]
Segment Reporting Information [Line Items]
Intersegment Revenues	73.3		200.8		215.4	379.4
Corporate Segment [Member]
Segment Reporting Information [Line Items]
Operating Profit (Loss)	$ (33.3)		$ (31.6)		$ (59.8)	$ (57.6)

Partially-Owned Subsidiaries -

Partially-Owned Subsidiaries - Narrative (Details) $ in Millions	3 Months Ended		6 Months Ended		36 Months Ended
	Jun. 30, 2024 USD ($) board_member	Jun. 30, 2023 USD ($)	Jun. 30, 2024 USD ($) board_member subsidiary	Jun. 30, 2023 USD ($)	Jun. 30, 2024 USD ($) board_member
Noncontrolling Interest [Line Items]
Gains on dispositions of property	$ 24.2	$ 30.4	$ 27	$ 45.7
Revenues	841.4	$ 722.4	$ 1,651	$ 1,364.1
Signal Rail Holdings LLC
Noncontrolling Interest [Line Items]
Revenues	$ 1.4
Signal Rail Holdings LLC
Noncontrolling Interest [Line Items]
Equity Method Investment, JV Majority Ownership Percentage	87.30%		87.30%		87.30%
Equity Method Investment, Ownership Percentage	12.70%		12.70%		12.70%
Proceeds from Sales of Business, Affiliate and Productive Assets	$ 142.8				$ 741.4
Equity Method Investments	21.8		$ 21.8		21.8
Gains on dispositions of property	18.8
Proceeds from Equity Method Investment, Distribution	2
Partially-owned subsidiaries
Noncontrolling Interest [Line Items]
Parent Company Guarantees	$ 0		$ 0		$ 0
Leasing & Services \| Partially-owned subsidiaries
Noncontrolling Interest [Line Items]
Number of Subsidiaries \| subsidiary			2
Number of Board Members \| board_member	7		7		7
Number of Board Members of Subsidiary, Designated by Parent \| board_member	2		2		2
Partially-owned subsidiaries \| Leasing & Services
Noncontrolling Interest [Line Items]
Carrying Value of Investment In Partially-Owned Consolidated Subsidiary	$ 123.9		$ 123.9		$ 123.9
Noncontrolling Interest, Ownership Percentage by Parent	38%		38%		38%
Noncontrolling Interest, Ownership Percentage by Noncontrolling Owners	62%		62%		62%
Partially-owned subsidiaries \| Rail Products Group [Member]
Noncontrolling Interest [Line Items]
Carrying Value of Investment In Partially-Owned Consolidated Subsidiary	$ 2.6		$ 2.6		$ 2.6
Noncontrolling Interest, Ownership Percentage by Parent	51%		51%		51%
Noncontrolling Interest, Ownership Percentage by Noncontrolling Owners	49%		49%		49%

Railcar Leasing and Services _3

Railcar Leasing and Services Group - Selected Income Statement Information (Details) - USD ($) $ in Millions		3 Months Ended		6 Months Ended
		Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Revenues		$ 841.4	$ 722.4	$ 1,651	$ 1,364.1
Cost of revenues		662.4	601.2	1,307.3	1,139.7
Selling, engineering, and administrative expenses		61.3	54.3	113.6	104.2
Lease portfolio sales		22.7	29.8	24.8	43.3
Gain (Loss) on Disposition of Other Assets		1.5	0.6	2.2	2.4
Operating Income (Loss)		141.9	99.1	257.1	168.1
Depreciation and amortization expense (4)				147.2	146.8
Railroad Transportation Equipment [Member]
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Depreciation and amortization expense (4)	[1],[2]	$ 60.1	59.2	$ 120	120.8
Depreciation, Depletion, and Amortization, Percent Change	[1],[2]	1.50%		(0.70%)
Maintenance and compliance expense (5)	[1],[3]	$ 35	32.8	$ 65.4	67.6
Maintenance Costs, Percent Change	[1],[3]	6.70%		(3.30%)
Other fleet operating costs	[1],[4]	$ 8.1	8.2	$ 15.8	17.4
Other fleet operating costs, Percent Change	[1],[4]	(1.20%)		(9.20%)
Interest expense (7)	[1],[5]	$ 60.4	57	$ 117.8	111.8
Interest Expense, Percent Change	[1],[5]	6%		5.40%
Operating Segments [Member]
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Revenues		$ 841.4	722.4	$ 1,651	1,364.1
Operating Income (Loss)		178.4	140.4	322.5	249.1
Leasing & Services \| Operating Segments [Member]
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Revenues		$ 281.4	268.3	$ 566.6	501.2
Revenues, Percent Change		4.90%		13%
Cost of revenues	[6]	$ 157.4	167.6	$ 327	314.4
Cost of revenues, Percent Change	[6]	(6.10%)		4%
Selling, engineering, and administrative expenses		$ 20	15.2	$ 38.1	32.1
Selling, Engineering, and Administrative Expense, Percent Change		31.60%		18.70%
Lease portfolio sales		$ 22.7	29.8	$ 24.8	43.3
Gain (Loss) on Disposition of Other Assets		1.3	0.8	2	2.7
Operating Income (Loss)		$ 128	$ 116.1	$ 228.3	$ 200.7
Operating Income (Loss), Percent Change		10.20%		13.80%
Operating Profit Margin		45.50%	43.30%	40.30%	40%
Operating Profit Margin, excluding Lease portfolio sales		37.40%	32.20%	35.90%	31.40%
Leasing & Services \| Operating Segments [Member] \| Sustainable Railcar Conversions
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Depreciation and amortization expense (4)			$ 0.8		$ 5.5
Leasing & Services \| Leasing and Management [Member] \| Operating Segments [Member]
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Revenues		$ 221.9	203.8	$ 430.9	398.5
Revenues, Percent Change		8.90%		8.10%
Leasing & Services \| Maintenance services \| Operating Segments [Member]
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Revenues	[7]	$ 49	45.1	$ 114.2	74.5
Revenues, Percent Change	[7]	8.60%		53.30%
Leasing & Services \| Digital & Logistics Services \| Operating Segments [Member]
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Revenues		$ 10.5	$ 19.4	$ 21.5	$ 28.2
Revenues, Percent Change		(45.90%)		(23.80%)

[1] Includes wholly-owned railcars, partially-owned railcars, and railcars under leased-in arrangements. Maintenance and compliance expense is reported at cost with respect to the services performed by our maintenance services business to support the railcars in our lease fleet. Other fleet operating costs include freight, storage, rent, and ad valorem taxes. Interest expense is not a component of operating profit and includes the effect of hedges. Includes depreciation and amortization expense, maintenance and compliance expense, and other fleet operating costs related to our lease fleet, as well as operating costs for our maintenance services and digital and logistics services businesses.

Railcar Leasing and Services _4

Railcar Leasing and Services Group - Lease Portfolio Sales (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Property Subject to or Available for Operating Lease [Line Items]
Lease portfolio sales			$ 186.7	$ 185.7
Operating profit on lease portfolio sales	$ 141.9	$ 99.1	257.1	168.1
Operating Segments [Member]
Property Subject to or Available for Operating Lease [Line Items]
Operating profit on lease portfolio sales	178.4	140.4	322.5	249.1
Operating Segments [Member] \| Leasing & Services
Property Subject to or Available for Operating Lease [Line Items]
Operating profit on lease portfolio sales	$ 128	$ 116.1	$ 228.3	$ 200.7
Operating Profit Margin	45.50%	43.30%	40.30%	40%
Operating Segments [Member] \| Sales of Leased Railcars [Domain] \| Leasing & Services
Property Subject to or Available for Operating Lease [Line Items]
Lease portfolio sales	$ 162.5	$ 129	$ 186.7	$ 185.7
Operating Profit Margin	14%	23.10%	13.30%	23.30%
Operating Segments [Member] \| Sales of Leased Railcars, Excluding Sales-Type Leases \| Leasing & Services
Property Subject to or Available for Operating Lease [Line Items]
Operating profit on lease portfolio sales	$ 22.7	$ 29.8	$ 24.8	$ 43.3

Railcar Leasing and Services _5

Railcar Leasing and Services Group - Narrative (Details) - Leasing & Services $ in Millions	Jun. 30, 2024 USD ($)
Minimum
Segment Reporting Information [Line Items]
Lessor, Operating Lease, Term of Contract	1 year
Maximum
Segment Reporting Information [Line Items]
Lessor, Operating Lease, Term of Contract	10 years
Wholly-owned subsidiaries
Segment Reporting Information [Line Items]
Net book value of unpledged equipment	$ 291.7
Wholly-owned subsidiaries \| Secured Debt [Member]
Segment Reporting Information [Line Items]
Debt Instrument, Collateral Amount	5,592.5
TRIP Holdings [Member] \| Secured Debt [Member]
Segment Reporting Information [Line Items]
Debt Instrument, Collateral Amount	1,026.2
RIV 2013 Holdings \| Secured Debt [Member] \| TRP 2021 Secured Railcar Equipment Notes - RIV 2013 [Member]
Segment Reporting Information [Line Items]
Debt Instrument, Collateral Amount	$ 420.6

Railcar Leasing and Services _6

Railcar Leasing and Services Group - Wholly-owned & Partially-owned Future Rental Revenues (Details) - Leasing & Services $ in Millions	Jun. 30, 2024 USD ($)
Future contractual minimum rental revenue
Remaining six months of 2024	$ 362.9	[1]
2025	623.5	[1]
2026	503	[1]
2027	377.9	[1]
2028	236.1	[1]
Thereafter	345.9	[1]
Total	2,449.3	[1]
Railroad Transportation Equipment [Member]
Future contractual minimum rental revenue
Remaining six months of 2024	357.1
2025	613.8
2026	495.8
2027	375.6
2028	235.4
Thereafter	344.2
Total	$ 2,421.9

[1] Total contractual minimum rental revenues on operating leases relates to our wholly-owned and partially-owned subsidiaries and sub-lease rental revenues associated with the Leasing Group's operating lease obligations.

Railcar Leasing and Services _7

Railcar Leasing and Services Group - Other Operating Lease Obligations & Future Revenues (Details) $ in Millions	Jun. 30, 2024 USD ($)
Future operating lease obligations
Remaining six months of 2024	$ 10.5
2025	19.3
2026	17.6
2027	16.3
2028	12.8
Thereafter	58.2
Lessee, Operating Lease, Liability, to be Paid, Total	134.7
Railcars on Lease [Member]
Future operating lease obligations
Remaining six months of 2024	4.4
2025	8.3
2026	7.7
2027	7.2
2028	5.1
Thereafter	6.8
Lessee, Operating Lease, Liability, to be Paid, Total	39.5
Leasing & Services
Future contractual minimum rental revenues
Remaining six months of 2024	362.9	[1]
2025	623.5	[1]
2026	503	[1]
2027	377.9	[1]
2028	236.1	[1]
Thereafter	345.9	[1]
Total	2,449.3	[1]
Leasing & Services \| Property Lease Guarantee [Member]
Future contractual minimum rental revenues
Guarantor Obligations, Maximum Exposure, Undiscounted	0.7
Leasing & Services \| Other Third Parties [Member]
Future contractual minimum rental revenues
Remaining six months of 2024	5.8
2025	9.7
2026	7.2
2027	2.3
2028	0.7
Thereafter	1.7
Total	$ 27.4

[1] Total contractual minimum rental revenues on operating leases relates to our wholly-owned and partially-owned subsidiaries and sub-lease rental revenues associated with the Leasing Group's operating lease obligations.

Property, Plant, and Equipmen_2

Property, Plant, and Equipment - Components of property, plant, and equipment (Details) - USD ($) $ in Millions		Jun. 30, 2024	Dec. 31, 2023
Property, Plant and Equipment, Net [Abstract]
Property, plant, and equipment, at cost, including partially-owned subsidiaries of $1,924.6 and $1,922.5		$ 9,593	$ 9,539.6
Less: accumulated depreciation		(2,650.7)	(2,534.8)
Property, Plant and Equipment, Net		6,942.3	7,004.8
Railcars on Lease [Member]
Property, Plant and Equipment, Net [Abstract]
Property, Plant and Equipment, Net		6,601.1	6,654.8
Railcars on Lease [Member] \| Intersegment Eliminations [Member]
Property, Plant and Equipment, Net [Abstract]
Property, plant, and equipment, at cost, including partially-owned subsidiaries of $1,924.6 and $1,922.5	[1]	(1,054)	(1,061.3)
Property, Plant and Equipment, Net		(729.9)	(750.2)
Negative Accumulated Depreciation PP&E- Deferred Profit		324.1	311.1
Wholly-owned subsidiaries \| Railcars on Lease [Member] \| Operating Segments [Member]
Property, Plant and Equipment, Net [Abstract]
Property, plant, and equipment, at cost, including partially-owned subsidiaries of $1,924.6 and $1,922.5		7,570.9	7,536.7
Less: accumulated depreciation		(1,686.7)	(1,604.9)
Property, Plant and Equipment, Net		5,884.2	5,931.8
Partially-owned subsidiaries \| Railcars on Lease [Member] \| Operating Segments [Member]
Property, Plant and Equipment, Net [Abstract]
Property, plant, and equipment, at cost, including partially-owned subsidiaries of $1,924.6 and $1,922.5		2,239	2,236.6
Less: accumulated depreciation		(792.2)	(763.4)
Property, Plant and Equipment, Net		1,446.8	1,473.2
Operating & Administrative Assets [Member]
Property, Plant and Equipment, Net [Abstract]
Property, plant, and equipment, at cost, including partially-owned subsidiaries of $1,924.6 and $1,922.5		837.1	827.6
Less: accumulated depreciation		(495.9)	(477.6)
Property, Plant and Equipment, Net		341.2	350
Operating & Administrative Assets [Member] \| Land
Property, Plant and Equipment, Net [Abstract]
Property, plant, and equipment, at cost, including partially-owned subsidiaries of $1,924.6 and $1,922.5		16.3	16.1
Operating & Administrative Assets [Member] \| Buildings and improvements
Property, Plant and Equipment, Net [Abstract]
Property, plant, and equipment, at cost, including partially-owned subsidiaries of $1,924.6 and $1,922.5		383.7	380.4
Operating & Administrative Assets [Member] \| Machinery and other
Property, Plant and Equipment, Net [Abstract]
Property, plant, and equipment, at cost, including partially-owned subsidiaries of $1,924.6 and $1,922.5		422.6	419.8
Operating & Administrative Assets [Member] \| Construction in progress
Property, Plant and Equipment, Net [Abstract]
Property, plant, and equipment, at cost, including partially-owned subsidiaries of $1,924.6 and $1,922.5		$ 14.5	$ 11.3

[1] Includes deferred profit related to new railcar additions, sustainable railcar conversions, railcar modifications, and other betterments. The deferred profit is subsequently eliminated in consolidation.

Debt - Components of debt (Deta

Debt - Components of debt (Details) - USD ($) $ in Millions	Jun. 30, 2024	Dec. 31, 2023
Debt Instrument [Line Items]
Debt:	$ 5,727.4	$ 5,754.2
Recourse
Debt Instrument [Line Items]
Debt:	597.5	794.6
Nonrecourse
Debt Instrument [Line Items]
Debt:	5,129.9	4,959.6
Level 2
Debt Instrument [Line Items]
Long-term Debt, Fair Value	620.1	812.1
Level 3
Debt Instrument [Line Items]
Long-term Debt, Fair Value	3,465.9	3,192.7
Corporate Segment [Member]
Debt Instrument [Line Items]
Debt, Net of Unamortized Premium and Unamortized Discount, Gross of Unamortized Debt Issuance Costs	604.9	799.9
Less: unamortized debt issuance costs	7.4	5.3
Senior Notes due 2024 \| Corporate Segment [Member]
Debt Instrument [Line Items]
Senior Notes	0	399.9
Debt Instrument, Unamortized Discount	0	0.1
Senior Notes due 2028 \| Corporate Segment [Member]
Debt Instrument [Line Items]
Senior Notes	604.9	400
Debt Instrument, Unamortized Premium	4.9	0
Wholly Owned Subsidiaries [Member] \| Nonrecourse
Debt Instrument [Line Items]
Debt:	4,019.6	3,819.2
Wholly Owned Subsidiaries [Member] \| Railcar Leasing and Services Group [Member]
Debt Instrument [Line Items]
Debt, Net of Unamortized Premium and Unamortized Discount, Gross of Unamortized Debt Issuance Costs	4,037.5	3,836.5
Less: unamortized debt issuance costs	17.9	17.3
Wholly Owned Subsidiaries [Member] \| Railcar Leasing and Services Group [Member] \| Nonrecourse
Debt Instrument [Line Items]
Debt:	4,019.6	3,819.2
Wholly Owned Subsidiaries [Member] \| Secured Debt [Member] \| Railcar Leasing and Services Group [Member]
Debt Instrument [Line Items]
Debt Instrument, Unamortized Discount	0.3	0.2
Debt, Net of Unamortized Premium and Unamortized Discount, Gross of Unamortized Debt Issuance Costs	2,516.6	2,246.7
Wholly Owned Subsidiaries [Member] \| 2017 Secured Railcar Equipment Notes [Member] [Domain] \| Promissory Notes [Member] \| Railcar Leasing and Services Group [Member]
Debt Instrument [Line Items]
Debt Instrument, Unamortized Discount	2.5	3.5
Debt, Net of Unamortized Premium and Unamortized Discount, Gross of Unamortized Debt Issuance Costs	652.5	673.7
Wholly Owned Subsidiaries [Member] \| TRL-2023 Term Loan \| Line of Credit [Member] \| Railcar Leasing and Services Group [Member]
Debt Instrument [Line Items]
Long-term Line of Credit	329	334.5
Wholly Owned Subsidiaries [Member] \| Other Equipment Financing \| Railcar Leasing and Services Group [Member]
Debt Instrument [Line Items]
Secured Debt, Other	51.2	52.3
Partially-Owned Subsidiaries [Member] \| Nonrecourse
Debt Instrument [Line Items]
Debt:	1,110.3	1,140.4
Partially-Owned Subsidiaries [Member] \| Railcar Leasing and Services Group [Member]
Debt Instrument [Line Items]
Less: unamortized debt issuance costs	6.2	7.4
Partially-Owned Subsidiaries [Member] \| Railcar Leasing and Services Group [Member] \| Nonrecourse
Debt Instrument [Line Items]
Debt:	1,110.3	1,140.4
Partially-Owned Subsidiaries [Member] \| Secured Debt [Member] \| Railcar Leasing and Services Group [Member]
Debt Instrument [Line Items]
Debt Instrument, Unamortized Discount	0.1	0.1
Debt, Net of Unamortized Premium and Unamortized Discount, Gross of Unamortized Debt Issuance Costs	1,116.5	1,147.8
Revolving Credit Facility [Member] \| Line of Credit [Member] \| Corporate Segment [Member]
Debt Instrument [Line Items]
Long-term Line of Credit	0	0
Revolving Credit Facility [Member] \| TILC [Member] \| TILC Warehouse Facility [Member] \| Line of Credit [Member] \| Railcar Leasing and Services Group [Member]
Debt Instrument [Line Items]
Long-term Line of Credit	$ 488.2	$ 529.3

Debt - Narrative (Details)

Debt - Narrative (Details) - USD ($) $ in Millions	3 Months Ended	6 Months Ended
Debt - Narrative (Details) - USD ($) $ in Millions	Jun. 30, 2024	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023
Debt Instrument [Line Items]
Loss on extinguishment of debt		$ 1.5	$ 0
Proceeds from Debt, Net of Issuance Costs		$ 1,722.2	1,253.9
Corporate Segment [Member] \| Senior Notes due 2024 \| 4.55% Senior Notes Due October 2024 [Member]
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Stated Percentage	4.55%	4.55%
Repayments of Senior Debt		$ 400
Loss on extinguishment of debt	$ 0.1	$ 0.1
Corporate Segment [Member] \| Senior Notes due 2028 \| 7.75% Senior Notes Due 2028
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Stated Percentage	7.75%	7.75%
Debt Instrument, Face Amount	$ 600	$ 600	$ 400
Proceeds from Issuance of Senior Long-Term Debt		200
Proceeds from Debt, Net of Issuance Costs		209
Payments of Debt Issuance Costs		3
Corporate Segment [Member] \| Revolving Credit Facility [Member] \| Line of Credit [Member]
Debt Instrument [Line Items]
Line of Credit Facility, Current Borrowing Capacity	600	600
Proceeds from Lines of Credit		190
Repayments of Lines of Credit		190
Line of Credit Facility, Maximum Borrowing Capacity	$ 594.8	$ 594.8
Debt Instrument, Basis Spread on Variable Rate		1.75%
Debt Instrument, Interest Rate, Effective Percentage	7.19%	7.19%
Line of Credit Facility, Interest Rate at Period End	0.25%	0.25%
Corporate Segment [Member] \| Letter of Credit [Member] \| Line of Credit [Member]
Debt Instrument [Line Items]
Letters of Credit Outstanding, Amount	$ 5.2	$ 5.2
TILC [Member] \| Leasing & Services \| Revolving Credit Facility [Member] \| Line of Credit [Member] \| TILC Warehouse Facility [Member]
Debt Instrument [Line Items]
Line of Credit Facility, Current Borrowing Capacity	800	800		$ 1,000
Proceeds from Lines of Credit		905.6
Repayments of Lines of Credit		946.7
Line of Credit Facility, Remaining Borrowing Capacity	311.8	311.8
Line of Credit Facility, Maximum Borrowing Capacity	$ 133.3	$ 133.3
Debt Instrument, Basis Spread on Variable Rate		1.75%
Debt Instrument, Interest Rate, Effective Percentage	7.08%	7.08%
Payments of Debt Issuance Costs		$ 3.6
Repayments of Debt		218.9
Wholly-owned subsidiaries \| Secured Debt [Member] \| 2009 Secured Railcar Equipment Notes
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Stated Percentage				6.66%
Loss on extinguishment of debt	$ 1.4	1.4
Repayments of Debt		94.1
Payment for Debt Extinguishment or Debt Prepayment Cost	0.6	0.6
Write off of Deferred Debt Issuance Cost	$ 0.8	$ 0.8
Wholly-owned subsidiaries \| Leasing & Services \| Secured Debt [Member] \| TRL-2021 Series 2024-1 Class A Green Secured Railcar Equipment Notes
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Stated Percentage	5.78%	5.78%
Debt Instrument, Face Amount	$ 432.4	$ 432.4
Payments of Debt Issuance Costs		$ 4.2
Minimum \| Corporate Segment [Member] \| Revolving Credit Facility [Member] \| Line of Credit [Member]
Debt Instrument [Line Items]
Line of Credit Facility, Interest Rate at Period End	0.175%	0.175%
Maximum \| Corporate Segment [Member] \| Revolving Credit Facility [Member] \| Line of Credit [Member]
Debt Instrument [Line Items]
Line of Credit Facility, Interest Rate at Period End	0.40%	0.40%

Income Taxes Narrative (Details

Income Taxes Narrative (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
Income Taxes Narrative (Details) - USD ($) $ in Millions	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023
Income Tax Disclosure [Line Items]
Effective Income Tax Rate Reconciliation, Percent	22.70%	23.90%	23.80%	(11.30%)
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent	21%	21%	21%	21%
Residual Tax Release from AOCI				$ 11.9
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Deferred Tax Liabilities		$ 3.2		3.2
Valuation Allowance, Deferred Tax Asset, Increase (Decrease), Amount				$ 4
Income tax receivable	$ 4.6		$ 4.6		$ 5.2
Taxes Payable	7.6		7.6
Deferred income taxes	1,104.2		1,104.2		1,103.5
Railcars on Lease [Member]
Income Tax Disclosure [Line Items]
Deferred income taxes	$ 1,100		$ 1,100		$ 1,100

Employee Retirement Plans - Com

Employee Retirement Plans - Components of net retirement cost (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Defined Benefit Plan, Net Periodic Benefit Cost (Credit) [Abstract]
Defined Contribution Plan, Cost	$ 2.9	$ 2.6	$ 5.9	$ 5

Accumulated Other Comprehensi_3

Accumulated Other Comprehensive Loss - Changes in accumulated other comprehensive loss (Details) - USD ($) $ in Millions	3 Months Ended				6 Months Ended
	Jun. 30, 2024	Mar. 31, 2024	Jun. 30, 2023	Mar. 31, 2023	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023
Accumulated Other Comprehensive Income (Loss) [Line Items]
Accumulated Other Comprehensive Income (Loss), Net of Tax	$ 7.4				$ 7.4		$ 11
Changes in accumulated other comprehensive loss
Other comprehensive income, net of tax, before reclassifications					5.9
Amounts reclassified from AOCI, net of tax expense of $2.9, $—, and $2.9					(9.3)
Reclassification from AOCI, Current Period, Tax					2.9
Less: noncontrolling interest	10.9	$ (7.5)	$ (5)	$ 14.4	3.4	$ 9.4
Other comprehensive loss					(3.6)
Unrealized gains/(losses) on derivative financial instruments
Accumulated Other Comprehensive Income (Loss) [Line Items]
Accumulated Other Comprehensive Income (Loss), Net of Tax	8.8				8.8		12.4
Changes in accumulated other comprehensive loss
Other comprehensive income, net of tax, before reclassifications					5.9
Amounts reclassified from AOCI, net of tax expense of $2.9, $—, and $2.9					(9.3)
Reclassification from AOCI, Current Period, Tax					2.9
Other comprehensive loss					(3.6)
Net actuarial gains/(losses) of defined benefit plans
Accumulated Other Comprehensive Income (Loss) [Line Items]
Accumulated Other Comprehensive Income (Loss), Net of Tax	(1.4)				(1.4)		(1.4)
Changes in accumulated other comprehensive loss
Other comprehensive income, net of tax, before reclassifications					0
Amounts reclassified from AOCI, net of tax expense of $2.9, $—, and $2.9					0
Reclassification from AOCI, Current Period, Tax					0
Other comprehensive loss					0
Accumulated Gain (Loss), Net, Cash Flow Hedge, Noncontrolling Interest [Member]
Changes in accumulated other comprehensive loss
Less: noncontrolling interest					(0.2)
Noncontrolling Interest [Member]
Changes in accumulated other comprehensive loss
Less: noncontrolling interest	(0.1)	(0.1)	(0.1)	7.4	(0.2)
Accumulated other comprehensive income (loss)
Accumulated Other Comprehensive Income (Loss) [Line Items]
Accumulated Other Comprehensive Income (Loss), Net of Tax	7.4				$ 7.4		$ 11
Changes in accumulated other comprehensive loss
Less: noncontrolling interest	$ 11	$ (7.4)	$ (4.9)	$ 7

Common Stock and Stock-Based _4

Common Stock and Stock-Based Compensation Stockholders Equity (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Dec. 09, 2022
Share Repurchases [Line Items]
Treasury Stock, Value, Acquired, Cost Method	$ 0.9
December 2022 Share Repurchase Program
Share Repurchases [Line Items]
Stock Repurchase Program, Authorized Amount					$ 250
Treasury Stock, Shares, Acquired	33,900		33,900
Treasury Stock, Value, Acquired, Cost Method	$ 0.9	$ 0	$ 0.9	$ 0
Stock Repurchase Program, Remaining Authorized Repurchase Amount	$ 249.1		$ 249.1

Common Stock and Stock-Based _5

Common Stock and Stock-Based Compensation Stock-based Compensation (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended				6 Months Ended
	Jun. 30, 2024	Mar. 31, 2024	Jun. 30, 2023	Mar. 31, 2023	Jun. 30, 2024	Jun. 30, 2023
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	$ 5.9	$ 4.7	$ 6.5	$ 6.2	$ 10.6	$ 12.7
Stock options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Award Requisite Service Period					10 years
Restricted stock units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of Shares Granted					430,185
Weighted Average Grant-Date Fair Value per Award					$ 30.54
Restricted stock awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period					1 year
Number of Shares Granted					15,903
Weighted Average Grant-Date Fair Value per Award					$ 30.75
Performance units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period					3 years
Number of Shares Granted					241,212
Weighted Average Grant-Date Fair Value per Award					$ 29.56
Minimum \| Restricted stock units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period					3 years
Maximum \| Restricted stock units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period					4 years

Earnings Per Common Share - EPS

Earnings Per Common Share - EPS calculation (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Income from continuing operations	$ 58.1	$ 23.5	$ 89.8	$ 40.3
Less: Net income attributable to noncontrolling interest	(2)	(4.2)	(5.7)	(13.5)
Net income from continuing operations attributable to Trinity Industries, Inc.	56.1	19.3	84.1	26.8
Net loss from discontinued operations attributable to Trinity Industries, Inc.	(1.7)	(2.3)	(6)	(5.4)
Net income attributable to Trinity Industries, Inc.	$ 54.4	$ 17	$ 78.1	$ 21.4
Basic weighted average shares outstanding	82.4	81.2	81.7	81
Effect of dilutive securities	1.7	2.2	1.7	2.5
Diluted weighted average shares outstanding	84.1	83.4	83.4	83.5
Income (Loss) from Continuing Operations, Per Basic Share	$ 0.68	$ 0.24	$ 1.03	$ 0.33
Income (Loss) from Discontinued Operations and Disposal of Discontinued Operations, Net of Tax, Per Basic Share	(0.02)	(0.03)	(0.07)	(0.07)
Basic net income attributable to Trinity Industries, Inc.	0.66	0.21	0.96	0.26
Income (Loss) from Continuing Operations, Per Diluted Share	0.67	0.23	1.01	0.32
Income (Loss) from Discontinued Operations and Disposal of Discontinued Operations, Net of Tax, Per Diluted Share	(0.02)	(0.03)	(0.07)	(0.06)
Diluted net income attributable to Trinity Industries, Inc.	$ 0.65	$ 0.20	$ 0.94	$ 0.26
Restricted Stock [Member]
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	0.2	0.1	0.2	0.1
Stock options
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	0	0	0	0

Contingencies - Narrative (Deta

Contingencies - Narrative (Details) - USD ($) $ in Millions		6 Months Ended
Contingencies - Narrative (Details) - USD ($) $ in Millions	Jun. 09, 2015	Jun. 30, 2024
Accrued Liabilities [Member]
Loss Contingencies [Line Items]
Loss Contingency Accrual		$ 8.5
Highway Products Litigation \| False Claims Act, USA
Loss Contingencies [Line Items]
Loss Contingency, Judgment Entered, Value	$ 682.4
Highway Products Litigation \| State, County, and Municipal Actions [Member]
Loss Contingencies [Line Items]
Loss Contingency Accrual		0
Ohio Train Derailment Litigation \| Ohio Train Derailment Litigation
Loss Contingencies [Line Items]
Loss Contingency Accrual		0
Environmental and Workplace Matters [Member]
Loss Contingencies [Line Items]
Loss Contingency Accrual		1.3
Damage from Fire, Explosion or Other Hazard
Loss Contingencies [Line Items]
Loss Contingency, Receivable, Proceeds		1.5
Loss Contingency, Receivable		1
Minimum
Loss Contingencies [Line Items]
Loss Contingency, Estimate of Possible Loss		7.5
Maximum
Loss Contingencies [Line Items]
Loss Contingency, Estimate of Possible Loss		$ 19