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Summary of Significant Accounting Policies (Tables) | 3 Months Ended
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Mar. 31, 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 March 31, 2024 and the percentage of the outstanding performance obligations as of March 31, 2024 expected to be delivered during the remainder of 2024:
| Unsatisfied performance obligations at March 31, 2024
| Total Amount |  | Percent expected to be delivered in 2024
| (in millions) |  |
Rail Products Group: |  |  |
New railcars: |  |  |
External customers | $ | 2,626.3 |  |  |
Leasing Group | 312.6 |  |  |
| $ | 2,938.9 |  |  | 49.1 | %
Sustainable railcar conversions | $ | 35.8 |  |  | 91.5 | %
Railcar Leasing and Services Group: |  |  |
Leasing and management | $ | 62.7 |  |  | 21.4 | %
Maintenance services | $ | 7.9 |  |  | 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 March 31,
|  |  |  |  | 2024 |  | 2023
Consolidated Statements of Operations |  |  |  |  |  |  |
Operating lease expense |  |  |  |  | $ | 5.3 |  |  | $ | 4.3 |
Consolidated Statements of Cash Flows |  |  |  |  |  |  |
Cash flows from operating activities |  |  |  | $ | 5.3 |  |  | $ | 4.3 |
Right-of-use assets recognized in exchange for new lease liabilities |  | $ | 4.2 |  |  | $ | 2.1 |
|  |  |  |  | March 31, 2024 |  | December 31, 2023
Consolidated Balance Sheets |  |  |  |  |  |  |
Right-of-use assets (1) |  |  |  |  | $ | 100.9 |  |  | $ | 100.6 |
Lease liabilities (2) |  |  |  |  | $ | 118.0 |  |  | $ | 118.2 |
Weighted average remaining lease term |  |  |  |  | 9.1 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 nine months of 2024 | $ | 6.6 |  |  | $ | 9.1 |  |  | $ | 15.7 |
2025 | 8.2 |  |  | 10.7 |  |  | 18.9 |
2026 | 7.7 |  |  | 9.5 |  |  | 17.2 |
2027 | 7.2 |  |  | 8.8 |  |  | 16.0 |
2028 | 5.1 |  |  | 7.4 |  |  | 12.5 |
Thereafter | 6.8 |  |  | 51.5 |  |  | 58.3 |
Total operating lease payments | $ | 41.6 |  |  | $ | 97.0 |  |  | $ | 138.6 |
Less: Present value adjustment |  |  |  |  | (20.6) |
Total operating lease liabilities |  |  |  |  | $ | 118.0 |
Lessor, Operating Leases | The following table summarizes the impact of our leases on our Consolidated Statements of Operations:
|  |  | Three Months Ended March 31,
|  |  |  |  | 2024 |  | 2023
|  |  |  |  | (in millions)
Operating lease revenues |  |  |  |  | $ | 191.8 |  |  | $ | 176.7 |
Variable operating lease revenues |  |  |  |  | $ | 13.7 |  |  | $ | 14.6 |
Interest income on sales-type lease receivables |  |  |  |  | $ | 0.2 |  |  | $ | 0.2 |
Lessor, Payments to be Received, Maturity [Table Text Block] | Future contractual minimum revenues for operating leases will mature as follows (in millions)(1):
Remaining nine months of 2024 | $ | 530.2 |
2025 | 593.8 |
2026 | 472.1 |
2027 | 350.4 |
2028 | 211.4 |
Thereafter | 331.7 |
Total | $ | 2,489.6 |
(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 nine months of 2024 | $ | 0.8 |
2025 | 1.1 |
2026 | 1.1 |
2027 | 1.1 |
2028 | 1.1 |
Thereafter | 9.0 |
Total | 14.2 |
Less: Unearned interest income | (4.1) |
Net investment in sales-type leases (1) | $ | 10.1 |
(1) Included in other assets in our Consolidated Balance Sheets.
Schedule of Goodwill | Goodwill by segment is as follows:
| March 31, 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 months ended March 31, 2024 and 2023 are as follows:
|  |  | Three Months Ended March 31,
|  |  |  |  | 2024 |  | 2023
|  |  |  |  | (in millions)
Beginning balance |  |  |  |  | $ | 3.3 |  |  | $ | 3.3 |
Warranty costs incurred |  |  |  |  | (0.2) |  |  | — |
Warranty originations and revisions |  |  |  |  | (0.2) |  |  | 1.0 |
Warranty expirations |  |  |  |  | (0.1) |  |  | (0.4) |
Ending balance |  |  |  |  | $ | 2.8 |  |  | $ | 3.9 |

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