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Earnings (Loss) Per Share (Tables)

3 Months Ended

Nov. 30, 2023

Earnings Per Share [Abstract]

Reconciliation of Shares Used in Computation of Basic and Diluted Earnings (Loss) Per Share

The shares used in the computation of basic and diluted earnings (loss) per common share are reconciled as follows:

	Three Months Ended November 30,
(In thousands)	2023				2022
Weighted average basic common shares outstanding		31,025				32,719
Dilutive effect of 2.875% convertible notes due 2024 (1)		826				—
Dilutive effect of 2.875% convertible notes due 2028 (2) (3)		—				—
Dilutive effect of restricted stock units (2) (4)		931				—
Weighted average diluted common shares outstanding		32,782				32,719

(1) The dilutive effect of the 2.875% Convertible notes due 2024 was excluded for the three months ended November 30, 2022 as they were considered anti-dilutive under the “if converted” method as further discussed below.

(2) The dilutive effect of common stock equivalents was excluded from the share calculation for the three months ended November 30, 2022 due to a net loss.

(3) The dilutive effect of the 2.875% Convertible notes due 2028 was excluded for the three months ended November 30, 2023 as the average stock price was less than the applicable conversion price and therefore was considered anti-dilutive. As these notes require cash settlement for the principal, only a premium is potentially dilutive under the "if converted" method as further discussed below.

(4) Restricted stock units 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 Earnings per Share

	Three Months Ended November 30,
(in millions, except number of shares which are reflected in thousands, and per share amounts)	2023				2022
Net earnings (loss) attributable to Greenbrier	$	31.2			$	(16.7	)
Weighted average basic common shares outstanding		31,025				32,719
Basic earnings (loss) per share	$	1.00			$	(0.51	)
Net earnings (loss) attributable to Greenbrier	$	31.2			$	(16.7	)
Add back:
Interest and debt issuance costs on the 2.875%      convertible notes due 2024, net of tax		0.3			n/a
Earnings before interest and debt issuance costs      on the 2.875% convertible notes due 2024	$	31.5			n/a
Weighted average diluted common shares outstanding		32,782				32,719
Diluted earnings (loss) per share	$	0.96		(1)	$	(0.51	)

(1) Diluted earnings per share was calculated as follows:

Earnings before interest and debt issuance costs on the 2.875% convertible notes due 2024

Weighted average diluted common shares outstanding

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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
-Topic 260
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 3
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482689/260-10-45-3

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-Topic 260
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-Name Accounting Standards Codification
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-Section 55
-Paragraph 52
-Publisher FASB
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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).

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-Name Accounting Standards Codification
-Topic 260
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-Section 50
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