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Contingencies | 6 Months Ended
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Jun. 30, 2025
Commitments and Contingencies Disclosure [Abstract] |
Contingencies | Contingencies East Palestine, OH Train Derailment As previously disclosed, on February 3, 2023, a Norfolk Southern Railway freight train derailed 38 railcars in East Palestine, Ohio. TILC has been named in various actions associated with this incident. TILC was the owner of one tank car cited in these actions, which was leased to a third party, who is also a third-party defendant in these matters. Developments in these proceedings since the filing of our Quarterly Report on Form 10-Q for the period ending March 31, 2025 include those described below. On July 9, 2025, plaintiffs dismissed all claims against TILC, without prejudice, in the previously disclosed litigation styled as 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. On June 20, 2025, TILC filed its motion to dismiss in the previously disclosed litigation styled as Josh Hickman, et al. v. Norfolk Southern Railway Company, et al., Case No. 25CV-01-859, in the Court of Common Pleas, Franklin County, Ohio, and in the previously disclosed litigation styled as Gregory Taylor, et al. v. Norfolk Southern Railway Company, et al., assigned Case No. 25CV-02-858, in the Court of Common Pleas, Franklin County, Ohio. On May 28, 2025, TILC filed its preliminary objections in the previously disclosed litigation styled as Richard Tsai, et al. v. Norfolk Southern Corporation, et al., Case No. 250200415, in the Court of Common Pleas, Philadelphia County, Pennsylvania. 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. Highway products litigation Pursuant to the purchase and sale agreement related to the sale of THP, the Company agreed to indemnify the buyer for certain liabilities related to the highway products business, including those liabilities resulting from or arising out of ET Plus systems or specified ET Plus component parts that are 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. There have been no significant developments in such proceedings since those previously described in Note 15 of our 2024 Annual Report on Form 10-K. 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 $7.7 million to $18.8 million. At June 30, 2025, total accruals of $8.4 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 $1.2 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.

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