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Segment Information | 12 Months Ended
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Aug. 31, 2025
Segment Reporting [Abstract] |
Segment Information | Note 17 — Segment Information The Company operates in two reportable segments: Manufacturing and Leasing & Fleet Management. See Note 1 - Nature of Operations to the Consolidated Financial Statements for additional information on the change in the Company’s reportable segments effective September 1, 2024. Prior period segment results have been recast to reflect the Company’s new reportable segments. The accounting policies of the segments are the same as those described in the summary of significant accounting policies. The Company’s CODM is Greenbrier’s President and Chief Executive Officer. Segment earnings from operations is the measure of profit or loss used by the CODM. As part of the Company’s budgeting and forecasting process, the CODM uses Segment earnings from operations to allocate capital and resources to each segment and considers variances from budget, forecasts, and prior period results to assess current period performance for each segment. Segment earnings from operations includes all revenues, expenses, and net gains or losses on asset dispositions that are directly attributable to each segment. Corporate expenses include selling and administrative costs not directly attributable to the reportable segments due to the Company’s integrated business model and therefore are not allocated to Segment earnings from operations. The Company does not allocate Interest and foreign exchange, Earnings from unconsolidated affiliates, or Income tax benefit (expense) for either external or internal reporting purposes. Intersegment sales and transfers are valued as if the sales or transfers were to third parties. Related revenue and margin are eliminated in consolidation and therefore are not included in consolidated results in the Company’s Consolidated Financial Statements. The information in the following tables is derived directly from the segments’ internal financial reports used for corporate management purposes, which includes the significant expense categories that are regularly reviewed by the CODM.
|  | For the Year Ended August 31, 2025 |
(In millions) |  | Manufacturing |  |  | Leasing & Fleet Management |  |  | Total |
Revenue |  |  |  |  |  |  |  |  |
Revenue from external customers |  | $ | 2,991.2 |  |  | $ | 249.0 |  |  | $ | 3,240.2 |
Intersegment revenue |  |  | 98.9 |  |  |  | 0.6 |  |  |  | 99.5 |
|  |  | 3,090.1 |  |  |  | 249.6 |  |  |  | 3,339.7 |
Elimination of intersegment revenues |  |  |  |  |  |  |  |  | (99.5 | )
Total consolidated revenues |  |  |  |  |  |  |  | $ | 3,240.2 |
Cost of revenue |  |  |  |  |  |  |  |  |
Cost of revenue from external customers |  |  | 2,556.6 |  |  |  | 76.1 |  |  |  | 2,632.7 |
Intersegment cost of revenue |  |  | 84.7 |  |  |  | 0.6 |  |  |  | 85.3 |
|  |  | 2,641.3 |  |  |  | 76.7 |  |  |  | 2,718.0 |
Elimination of intersegment margin |  |  | (14.2 | ) |  |  | — |  |  |  | (14.2 | )
Margin |  |  | 434.6 |  |  |  | 172.9 |  |  |  | 607.5 |
Selling and administrative |  |  | 106.3 |  |  |  | 29.0 |  |  |  |
Net loss (gain) on disposition of equipment |  |  | 0.8 |  |  |  | (16.7 | ) |  |  |
Segment earnings from operations |  | $ | 327.5 |  |  | $ | 160.6 |  |  | $ | 488.1 |
|  | For the Year Ended August 31, 2024 |
(In millions) |  | Manufacturing |  |  | Leasing & Fleet Management |  |  | Total |
Revenue |  |  |  |  |  |  |  |  |
Revenue from external customers |  | $ | 3,312.4 |  |  | $ | 232.3 |  |  | $ | 3,544.7 |
Intersegment revenue |  |  | 237.0 |  |  |  | 1.0 |  |  |  | 238.0 |
|  |  | 3,549.4 |  |  |  | 233.3 |  |  |  | 3,782.7 |
Elimination of intersegment revenues |  |  |  |  |  |  |  |  | (238.0 | )
Total consolidated revenues |  |  |  |  |  |  |  | $ | 3,544.7 |
Cost of revenue |  |  |  |  |  |  |  |  |
Cost of revenue from external customers |  |  | 2,913.0 |  |  |  | 73.2 |  |  |  | 2,986.2 |
Intersegment cost of revenue |  |  | 212.1 |  |  |  | 0.9 |  |  |  | 213.0 |
|  |  | 3,125.1 |  |  |  | 74.1 |  |  |  | 3,199.2 |
Elimination of intersegment margin |  |  | (24.9 | ) |  |  | (0.1 | ) |  |  | (25.0 | )
Margin |  |  | 399.4 |  |  |  | 159.1 |  |  |  | 558.5 |
Selling and administrative |  |  | 90.3 |  |  |  | 33.6 |  |  |  |
Net loss (gain) on disposition of equipment |  |  | 0.4 |  |  |  | (13.5 | ) |  |  |
Segment earnings from operations |  | $ | 308.7 |  |  | $ | 139.0 |  |  | $ | 447.7 |
|  | For the Year Ended August 31, 2023 |
(In millions) |  | Manufacturing |  |  | Leasing & Fleet Management |  |  | Total |
Revenue |  |  |  |  |  |  |  |  |
Revenue from external customers |  | $ | 3,764.1 |  |  | $ | 179.9 |  |  | $ | 3,944.0 |
Intersegment revenue |  |  | 282.9 |  |  |  | 1.2 |  |  |  | 284.1 |
|  |  | 4,047.0 |  |  |  | 181.1 |  |  |  | 4,228.1 |
Elimination of intersegment revenues |  |  |  |  |  |  |  |  | (284.1 | )
Total consolidated revenues |  |  |  |  |  |  |  | $ | 3,944.0 |
Cost of revenue |  |  |  |  |  |  |  |  |
Cost of revenue from external customers |  |  | 3,447.4 |  |  |  | 55.5 |  |  |  | 3,502.9 |
Intersegment cost of revenue |  |  | 254.2 |  |  |  | 0.9 |  |  |  | 255.1 |
|  |  | 3,701.6 |  |  |  | 56.4 |  |  |  | 3,758.0 |
Elimination of intersegment margin |  |  | (28.7 | ) |  |  | (0.3 | ) |  |  | (29.0 | )
Margin |  |  | 316.7 |  |  |  | 124.4 |  |  |  | 441.1 |
Selling and administrative |  |  | 95.5 |  |  |  | 33.8 |  |  |  |
Net gain on disposition of equipment |  |  | (3.3 | ) |  |  | (12.7 | ) |  |  |
Asset impairment, disposal, and exit costs, net |  |  | 46.7 |  |  |  | — |  |  |  |
Segment earnings from operations |  | $ | 177.8 |  |  | $ | 103.3 |  |  | $ | 281.1 |
Reconciliation of Segment earnings from operations to Earnings before income tax and earnings from unconsolidated affiliates:
|  | For the Year Ended August 31, |
(In millions) |  | 2025 |  |  | 2024 |  |  | 2023 |
Segment earnings from operations |  |  |  |  |  |  |  |  |
Manufacturing |  | $ | 327.5 |  |  | $ | 308.7 |  |  | $ | 177.8 |
Leasing & Fleet Management |  |  | 160.6 |  |  |  | 139.0 |  |  |  | 103.3 |
|  |  | 488.1 |  |  |  | 447.7 |  |  |  | 281.1 |
Corporate |  |  | 128.0 |  |  |  | 123.2 |  |  |  | 104.7 |
Earnings from operations |  |  | 360.1 |  |  |  | 324.5 |  |  |  | 176.4 |
Interest and foreign exchange |  |  | 75.7 |  |  |  | 100.8 |  |  |  | 85.4 |
Earnings before income tax and earnings from unconsolidated affiliates |  | $ | 284.4 |  |  | $ | 223.7 |  |  | $ | 91.0 |
The following table presents selected financial information by segment.
|  | Year Ended August 31, |
(In millions) |  | 2025 |  |  | 2024 |  |  | 2023 |
Assets: |  |  |  |  |  |  |  |  |
Manufacturing |  | $ | 2,085.9 |  |  | $ | 2,172.4 |  |  | $ | 2,141.4 |
Leasing & Fleet Management |  |  | 1,858.4 |  |  |  | 1,633.6 |  |  |  | 1,458.1 |
Unallocated, including cash |  |  | 416.3 |  |  |  | 448.5 |  |  |  | 378.9 |
|  | $ | 4,360.6 |  |  | $ | 4,254.5 |  |  | $ | 3,978.4 |
Depreciation and amortization: |  |  |  |  |  |  |  |  |
Manufacturing |  | $ | 78.4 |  |  | $ | 72.1 |  |  | $ | 70.8 |
Leasing & Fleet Management |  |  | 43.1 |  |  |  | 43.5 |  |  |  | 35.5 |
|  | $ | 121.5 |  |  | $ | 115.6 |  |  | $ | 106.3 |
Capital expenditures: |  |  |  |  |  |  |  |  |
Manufacturing |  | $ | 139.9 |  |  | $ | 121.3 |  |  | $ | 89.2 |
Leasing & Fleet Management |  |  | 140.5 |  |  |  | 277.0 |  |  |  | 272.9 |
|  | $ | 280.4 |  |  | $ | 398.3 |  |  | $ | 362.1 |
The following table summarizes selected geographic information.
|  | Year Ended August 31, |
(In millions) |  | 2025 |  |  | 2024 |  |  | 2023 |
Revenue 1: |  |  |  |  |  |  |  |  |
U.S. |  | $ | 2,431.3 |  |  | $ | 2,787.5 |  |  | $ | 3,235.3 |
Foreign |  |  | 808.9 |  |  |  | 757.2 |  |  |  | 708.7 |
|  | $ | 3,240.2 |  |  | $ | 3,544.7 |  |  | $ | 3,944.0 |
Assets: |  |  |  |  |  |  |  |  |
U.S. |  | $ | 2,994.3 |  |  | $ | 2,775.4 |  |  | $ | 2,593.4 |
Mexico |  |  | 1,019.7 |  |  |  | 1,145.3 |  |  |  | 1,084.3 |
Europe |  |  | 346.6 |  |  |  | 333.8 |  |  |  | 300.7 |
|  | $ | 4,360.6 |  |  | $ | 4,254.5 |  |  | $ | 3,978.4 |
1 Revenue is presented on the basis of geographic location of customers.

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- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 21 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-21 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name 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