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Earnings Per Share (Tables) | 9 Months Ended
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May 31, 2021
Earnings Per Share [Abstract] |
Reconciliation of Shares Used in Computation of Basic and Diluted Earnings Per Common Share | The shares used in the computation of basic and diluted earnings per common share are reconciled as follows:
| Three Months Ended May 31, |  |  | Nine Months Ended May 31, |
(In thousands) | 2021 |  |  | 2020 |  |  | 2021 |  |  | 2020 |
Weighted average basic common shares outstanding (1) |  | 32,573 |  |  |  | 32,690 |  |  |  | 32,726 |  |  |  | 32,660 |
Dilutive effect of 2.875% convertible notes, due 2024 (2) |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Dilutive effect of 2.875% convertible notes, due 2028 (3) |  | — |  |  | N/A |  |  |  | — |  |  | N/A |
Dilutive effect of 2.25% convertible notes, due 2024 (4) |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Dilutive effect of restricted stock units (5) |  | 1,032 |  |  |  | 788 |  |  |  | 1,021 |  |  |  | 754 |
Weighted average diluted common shares outstanding |  | 33,605 |  |  |  | 33,478 |  |  |  | 33,747 |  |  |  | 33,414 |
(1) | Restricted stock grants and restricted stock units that are considered participating securities, including some grants subject to certain performance criteria, are included in weighted average basic common shares outstanding when the Company is in a net earnings position.
(2) | The dilutive effect of the 2.875% convertible notes, due 2024 was excluded for the three and nine months ended May 31, 2021 and 2020 as the average stock price was less than the applicable conversion price and therefore was considered anti-dilutive.
(3) | The dilutive effect of the 2.875% convertible notes, due 2028 was excluded for the three and nine months ended May 31, 2021 as the average stock price was less than the applicable conversion price and therefore was considered anti-dilutive. These convertible notes were issued in April 2021.
(4) | The dilutive effect of the 2.25% convertible notes, due 2024 was excluded for the three and nine months ended May 31, 2021 and 2020 as the average stock price was less than the applicable conversion price and therefore was considered anti-dilutive. These convertible notes were retired in April 2021.
(5) | Restricted stock units that are not considered participating securities and restricted stock units subject to performance criteria, for which actual levels of performance above target have been achieved, are included in weighted average diluted common shares outstanding when the Company is in a net earnings position.
Approach to Calculate Diluted Earning per Share |
|  | Three Months Ended May 31, |  |  | Nine Months Ended May 31, |
|  | 2021 |  |  | 2020 |  |  | 2021 |  |  | 2020 |
Net earnings attributable to Greenbrier |  | $ | 19,737 |  |  | $ | 27,772 |  |  | $ | 700 |  |  | $ | 49,070 |
Weighted average diluted common shares outstanding |  |  | 33,605 |  |  |  | 33,478 |  |  |  | 33,747 |  |  |  | 33,414 |
Diluted earnings per share |  | $ | 0.59 |  |  | $ | 0.83 |  |  | $ | 0.02 |  |  | $ | 1.47 |

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- Definition Tabular disclosure of the effect of income (loss) on an entity's diluted earnings per share. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 45 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=121326447&loc=d3e1278-109256 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3550-109257 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 55 -Paragraph 52 -URI http://asc.fasb.org/extlink&oid=120380238&loc=d3e4984-109258 + Details
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- Definition Tabular disclosure of the weighted average number of shares used in calculating basic net earnings per share (or unit) and diluted earnings per share (or unit). + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3550-109257 + Details
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