The Greenbrier Companies, Inc
(NYSE:GBX)

The Greenbrier Companies, Inc. designs, manufactures, and markets railroad freight car equipment in North America, Europe, and South America. It operates through three segments: Manufacturing; Wheels, Repair & Parts; and Leasing & Services. The Manufacturing segment offers conventional railcars, suc...

Website: http://www.gbrx.com

Founded: 1981

Full Time Employees: 10,600

Sector: Industrials

Industry: Railroads

Industrials

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At a glance:

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Annual

Unit: USD	2026-02-28	2025-11-30	2025-08-31	2025-05-31	2025-02-28	2024-11-30	2024-08-31	2024-05-31	2024-02-29	2023-11-30	2023-08-31	2023-05-31	2023-02-28	2022-11-30	2022-08-31	2022-05-31	2022-02-28	2021-11-30	2021-08-31	2021-05-31	2021-02-28	2020-11-30	2020-08-31	2020-05-31	2020-02-29	2019-11-30	2019-08-31	2019-05-31	2019-02-28	2018-11-30	2018-08-31	2018-05-31	2018-02-28	2017-11-30	2017-08-31	2017-05-31	2017-02-28	2016-11-30	2016-08-31	2016-05-31	2016-02-29	2015-11-30	2015-08-31	2015-05-31	2015-02-28	2014-11-30	2014-08-31	2014-05-31	2014-02-28	2013-11-30	2013-08-31	2013-05-31	2013-02-28	2012-11-30	2012-08-31	2012-05-31	2012-02-29	2011-11-30	2011-08-31	2011-05-31	2011-02-28	2010-11-30	2010-08-31	2010-05-31	2010-02-28	2009-11-30	2009-08-31	2009-05-31	2009-02-28	2008-11-30	2008-08-31	2008-05-31	2008-02-29	2007-11-30	2007-08-31	2007-05-31	2007-02-28	2006-11-30	2006-08-31	2006-05-31	2006-02-28	2005-11-30	2005-08-31	2005-05-31	2005-02-28	2004-11-30	2004-08-31	2004-05-31	2004-02-29	2003-11-30	2003-08-31	2003-05-31	2003-02-28	2002-11-30	2002-08-31

revenue
yoy
qoq
manufacturing	541,500,000	657,000,000	692,300,000	778,200,000	700,300,000	820,400,000	916,800,000	685,100,000	735,800,000	675,900,000	872,400,000	870,200,000	968,600,000	646,500,000	817,500,000	650,900,000	555,700,000	452,500,000	477,232,000	341,939,000	202,094,000	308,722,000	549,654,000	653,007,000	489,943,000	657,367,000	802,103,000	681,588,000	476,019,000	471,789,000	571,175,000	510,099,000	511,827,000	451,485,000	508,547,000	317,104,000	445,504,000	454,033,000	484,645,000	458,494,000	454,531,000	698,661,000	657,485,000	593,376,000	505,241,000	379,949,000	492,105,000	425,583,000	347,755,000	359,473,000	351,728,000	284,591,000	294,047,000	285,368,000	306,172,000	364,930,000	320,206,000	262,656,000	305,554,000	173,487,000	156,621,000	85,440,000	69,546,000	77,877,000	88,065,000	60,078,000	108,218,000	105,986,000	145,574,000	102,717,000	180,680,000	201,825,000	123,394,000	159,194,000	209,131,000	241,399,000	119,201,000	168,692,000	241,719,000	236,052,000	208,922,000	164,596,000	240,866,000	266,090,000	233,808,000	200,397,000	180,070,000	207,136,000	148,725,000	94,235,000	90,700,000	108,099,000	86,539,000	79,211,000
leasing & fleet management	46,000,000	49,100,000	67,200,000	64,500,000	61,800,000	55,500,000
cost of revenue
margin	69,500,000	103,300,000	143,800,000	151,500,000	138,600,000	173,600,000	191,200,000	123,800,000	122,200,000	121,300,000	126,700,000	128,100,000	116,800,000	69,500,000	44,675,000	76,300,000	54,800,000	47,600,000	98,133,000	75,132,000	17,671,000	40,671,000	67,075,000	107,531,000	86,336,000	92,189,000	133,537,000	106,572,000	53,844,000	72,533,000	105,887,000	108,507,000	105,347,000	89,314,000	99,922,000	89,701,000	118,925,000	112,751,000	119,683,000	127,098,000	119,891,000	184,765,000	174,689,000	149,286,000	125,310,000	88,068,000	106,035,000	96,775,000	57,851,000	61,559,000	60,300,000	50,019,000	48,275,000	47,779,000	54,541,000	61,938,000	51,486,000	46,457,000	51,076,000	38,150,000	28,611,000	26,166,000	28,491,000	35,868,000	24,166,000	21,642,000	32,308,000	26,693,000	16,155,000	17,951,000	42,999,000	48,633,000	34,673,000	35,937,000	60,717,000	57,776,000	31,822,000	29,117,000	39,831,000	44,472,000	40,183,000	32,893,000	38,838,000	34,982,000	26,547,000	24,806,000	29,531,000	25,717,000	17,164,000	16,151,000	16,401,000	16,193,000	10,595,000	10,988,000
selling and administrative expense	57,400,000	59,900,000	48,125,000	65,900,000	64,600,000	62,000,000	44,800,000	59,300,000	63,600,000	56,300,000	43,925,000	63,300,000	59,000,000	53,400,000	39,100,000	57,400,000	54,700,000	44,300,000	34,092,750	49,239,000	43,425,000	43,707,000	39,613,750	49,494,000	54,597,000	54,364,000	38,175,250	54,377,000	47,892,000	50,432,000	37,282,500	51,793,000	50,294,000	47,043,000	30,879,500	42,810,000	39,495,000	41,213,000	29,518,250	43,280,000	38,244,000	36,549,000	28,055,750	45,595,000	32,899,000	33,729,000	22,258,500	34,800,000	28,125,000	26,109,000	19,091,000	25,322,000	24,942,000																									17,124,000				15,684,000				12,072,000			10,924,000	8,167,000	7,805,000	8,317,000	8,162,000	7,070,000
net gain on disposition of equipment	-13,000,000	-17,700,000	900,000	-7,000,000	-9,600,000		-500,000	-7,800,000	-4,900,000		-2,100,000	-2,300,000	-9,600,000	-3,300,000			-25,100,000	-8,500,000			-27,000	-922,000	-573,000	-8,775,000	-6,697,000	-3,959,000	-3,489,000	-11,019,000	-12,102,000	-14,353,000	-4,556,000	-14,825,000	-5,817,000	-19,171,000	-4,947,000	-1,581,000	-2,090,000	-1,122,000	-4,470,000	-311,000	-10,746,000	-269,000	-406,000	-720,000	-121,000	-83,000	-353,000	-5,619,000	-5,416,000	-3,651,000	-8,457,000	-5,131,000	-3,076,000
earnings from operations	25,100,000	61,100,000	72,100,000	92,600,000	83,600,000	111,800,000	123,800,000	72,300,000	63,500,000	64,900,000	63,100,000	50,700,000	67,400,000	-4,800,000	61,400,000	19,600,000	25,200,000	11,800,000	43,102,000	25,709,000	-25,727,000	-2,114,000	21,397,000	66,812,000	38,436,000	41,784,000	76,419,000	53,189,000	18,054,000	36,454,000	59,134,000	71,539,000	60,870,000	61,442,000	57,780,000	48,472,000	81,520,000	72,660,000	83,545,000	84,129,000	92,393,000	148,485,000	135,527,000	104,411,000	92,532,000	54,422,000	99,158,000	67,538,000	34,602,000	38,222,000	39,227,000	-47,072,000	26,409,000	23,087,000	27,010,000	35,739,000	29,161,000	26,880,000	31,183,000	17,248,000
interest and foreign exchange	13,700,000	15,500,000	17,400,000	13,200,000	21,700,000	23,400,000	28,300,000	24,700,000	24,600,000	23,200,000	21,400,000	22,800,000	21,600,000	19,600,000	18,100,000	14,900,000	11,800,000	12,600,000	12,388,000	10,204,000	9,568,000	11,103,000	10,596,000	7,562,000	12,609,000	12,852,000	7,501,000	9,770,000	9,237,000	4,404,000	8,786,000	6,533,000	7,029,000	7,020,000	8,901,000	7,894,000	5,673,000	1,724,000	2,937,000	3,712,000	1,417,000	5,436,000	1,824,000	4,285,000	1,929,000	3,141,000	4,415,000	5,437,000	4,099,000	4,744,000	4,031,000	5,905,000	6,322,000	5,900,000	6,235,000	6,560,000	6,630,000	5,383,000	6,346,000	9,807,000	10,536,000	10,304,000	10,081,000	9,536,000	12,406,000	11,112,000	12,294,000	10,749,000	8,192,000	10,846,000	10,507,000	9,990,000	9,854,000	10,419,000	8,929,000	10,930,000	10,416,000	9,641,000	7,990,000	5,963,000	7,012,000	4,430,000	5,196,000	2,285,000	4,295,000	3,059,000	3,332,000	2,932,000
earnings before income tax and earnings from unconsolidated affiliates	11,400,000	45,600,000	54,700,000	79,400,000	61,900,000	88,400,000	95,500,000	47,600,000	38,900,000	41,700,000	41,700,000	27,900,000	45,800,000		43,300,000	4,700,000	13,400,000		29,190,000	10,742,000
income tax expense	-1,700,000	-12,300,000	-19,900,000	-18,100,000	-20,000,000	-33,400,000	-32,000,000	-10,700,000	-9,300,000		-2,925,000	-3,600,000	-11,900,000										-2,306,000	-24,421,000	-7,463,000	-5,994,000	-17,197,000	-13,008,000		-9,135,000	-10,115,000	-15,944,000		-18,135,000	-10,114,000	-8,656,000	-24,858,000	-20,386,000	-19,420,000	-22,449,000	-25,734,000	-44,719,000	-35,951,000	-30,783,000	-29,372,000	-16,054,000	-35,693,000	-16,303,000	-9,883,000	-10,522,000	-12,155,000	-2,729,000	-5,590,000	-4,586,000																	-6,118,000	-7,573,000		-2,956,000	-10,259,000	-11,047,000		-580,000	568,000	-9,866,000	-7,466,000	-4,934,000	-7,078,000	-5,881,000		-3,554,000	-1,361,500	-4,116,000		-2,490,000
earnings before earnings from unconsolidated affiliates	9,700,000	33,300,000	34,800,000	61,300,000	41,900,000	55,000,000	63,500,000	36,900,000	29,600,000	31,700,000	28,800,000	24,300,000	33,900,000	-20,600,000	28,100,000	3,600,000	10,200,000	600,000	33,415,000	17,656,000	-13,543,000	-5,885,000	8,495,000	34,829,000	18,364,000	22,938,000			6,569,000	22,915,000			65,142,000		38,765,000	31,922,000	50,989,000	50,550,000	61,188,000	57,968,000	65,242,000	98,330,000	97,752,000	69,343,000	61,231,000	35,227,000	59,050,000	45,798,000		22,956,000	23,041,000	-55,706,000	14,497,000		12,851,500	20,524,000	17,183,000
earnings from unconsolidated affiliates	4,200,000	4,000,000	5,500,000	6,200,000	4,300,000	4,100,000	1,800,000	3,700,000	4,000,000	1,500,000	600,000	2,400,000	2,900,000	3,300,000	1,300,000	4,000,000	1,000,000	5,000,000	2,234,000	2,379,000	-378,000	-744,000	-804,000	1,040,000	1,651,000	1,073,000			-786,000	467,000			147,000		-6,511,000	-681,000	-1,988,000	-2,584,000	-825,000	1,564,000	974,000	383,000	204,000	982,000	-185,000	755,000	1,083,000	298,000		41,000	249,000	82,000	-105,000		-24,750	201,000	72,000
net earnings	13,900,000	37,300,000	40,300,000	67,500,000	46,200,000	59,100,000	65,300,000	40,600,000	33,600,000	33,200,000	29,400,000	26,700,000	36,800,000	-17,300,000	29,400,000	7,600,000	11,200,000	5,600,000	35,649,000	20,035,000	-13,921,000	-6,629,000	7,691,000	35,869,000	20,015,000	24,011,000	50,799,000	25,847,000	5,783,000	23,382,000	37,158,000	36,239,000	65,289,000	33,377,000	32,254,000	31,241,000	49,001,000	47,966,000	60,363,000	59,532,000	66,216,000	98,713,000	97,956,000	70,325,000	61,046,000	35,982,000	60,133,000	46,096,000	20,553,000	22,997,000	23,290,000	-55,624,000	14,392,000	12,561,000	9,863,000	20,725,000	17,255,000	13,328,000	13,537,000	-2,804,000			10,000,000	6,077,000			6,686,000	-50,538,000	-6,878,000	-3,329,000	7,350,000	8,126,000	1,423,000	2,642,000	13,194,000	13,017,000	-6,071,000	1,870,000	12,338,000	10,680,000	8,563,000	8,017,000	10,586,000	9,044,000	4,802,000	5,390,000	8,011,000	6,375,000	2,237,000	4,155,000	3,292,000	3,006,000
yoy	-69.91%	-36.89%	-38.28%	66.26%	37.50%	78.01%	122.11%	52.06%	-8.70%	-291.91%	0.00%	251.32%	228.57%	-408.93%	-17.53%	-62.07%	-180.45%	-184.48%	363.52%	-44.14%	-169.55%	-127.61%	-84.86%	38.77%	246.10%	2.69%	36.71%	-28.68%	-91.14%	-29.95%	15.20%	16.00%	33.24%	-30.42%	-46.57%	-47.52%	-26.00%	-51.41%	-38.38%	-15.35%	8.47%	174.34%	62.90%	52.56%	197.02%	56.46%	158.19%	-182.87%	42.81%	83.08%	136.14%	-368.39%	-16.59%	-5.75%	-27.14%	-839.12%			35.37%	-146.14%			49.57%	-112.02%			-9.03%	-721.93%	-583.35%	-226.00%	-44.29%	-37.57%	-123.44%	41.28%	6.94%	21.88%	-170.90%	-76.67%	16.55%	18.09%	78.32%	48.74%	32.14%	41.87%	114.66%	29.72%	143.35%	112.08%
qoq	-62.73%	-7.44%	-40.30%	46.10%	-21.83%	-9.49%	60.84%	20.83%	1.20%	12.93%	10.11%	-27.45%	-312.72%	-158.84%	286.84%	-32.14%	100.00%	-84.29%	77.93%	-243.92%	110.00%	-186.19%	-78.56%	79.21%	-16.64%	-52.73%	96.54%	346.95%	-75.27%	-37.07%	2.54%	-44.49%	95.61%	3.48%	3.24%	-36.24%	2.16%	-20.54%	1.40%	-10.09%	-32.92%	0.77%	39.29%	15.20%	69.66%	-40.16%	30.45%	124.28%	-10.63%	-1.26%	-141.87%	-486.49%	14.58%	27.35%	-52.41%	20.11%	29.46%	-1.54%	-582.77%				64.55%				-113.23%	634.78%	106.61%	-145.29%	-9.55%	471.05%	-46.14%	-79.98%	1.36%	-314.41%	-424.65%	-84.84%	15.52%	24.72%	6.81%	-24.27%	17.05%	88.34%	-10.91%	-32.72%	25.66%	184.98%	-46.16%	26.22%	9.51%
net income margin %	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	-Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	-Infinity%	-Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	-Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	-Infinity%	NaN%	NaN%	Infinity%	Infinity%	NaN%	NaN%	Infinity%	-Infinity%	-Infinity%	-Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	-Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	NaN%	NaN%
net loss attributable to noncontrolling interest	1,100,000													600,000			1,600,000
net earnings attributable to greenbrier	15,000,000	36,400,000	36,800,000	60,100,000	51,900,000	55,300,000	61,600,000	33,900,000	33,400,000	31,200,000	24,800,000	21,300,000	33,100,000	-16,700,000	20,200,000	3,100,000	12,800,000	10,800,000	31,777,000	19,737,000	-9,065,000	-9,972,000	-103,000	27,772,000	13,629,000	7,669,000	35,107,000	15,248,000	2,765,000	17,956,000	30,935,000	32,951,000	61,642,000	26,253,000	23,746,000	32,823,000	34,536,000	24,962,000	33,560,000	35,352,000	44,868,000	69,433,000	66,884,000	42,811,000	50,351,000	32,786,000	47,356,000	33,588,000	15,587,000	15,388,000	20,716,000	-56,030,000	13,839,000	10,427,000	7,405,000	19,117,000	17,670,000	14,517,000	12,635,000	-3,314,000			-858,250	4,563,000
basic earnings per common share	480,000	1,180,000	1,200,000	1,920,000	1,660,000	1,770,000	1,980,000	1,090,000	1,080,000	1,000,000	780,000	670,000	1,010,000	-510,000	205,000	100,000	390,000	330,000	970	610	-280	-300		850	420	240	1,080	470	80		930	1,030	2,100		810	1,120	1,190		1,282.5	1,220	1,540		1,145	1,540	1,860		572.5	1,200	550		-300	-2,100	510		485	710	660		-67.5	-140			-50	250			-902.5	-3,000	-410		187.5	490	90		137.5	810	-380		435	670	550		322.5	600	320		220	440	150
diluted earnings per common share	470,000	1,140,000	1,170,000	1,860,000	1,560,000	1,720,000	1,910,000	1,060,000	1,030,000	960,000	760,000	640,000	970,000	-510,000	610,000	90,000	380,000	320,000	940	590	-280	-300	-10	830	410	230	1,060	460	80		930	1,010	1,910		740	1,030	1,090		1,167.5	1,120	1,410		977.5	1,330	1,570		502.5	1,030	500		-300	-2,100	450		412.5	610	570		-67.5	-140			-50	230			-902.5	-3,000	-410		187.5	490	90		137.5	810	-380		427.5	670	540		310	580	310		210	420	150
weighted-average common shares
basic	30,917,000,000	30,953,000,000	31,171,000,000	31,186,000,000	31,376,000,000	31,246,000,000	31,102,000,000	31,131,000,000	31,117,000,000	31,025,000,000	31,983,000,000	31,757,000,000	32,588,000,000	32,719,000,000		32,588,000,000	32,582,000,000	32,510,000,000	32,648,000	32,573,000	32,810,000	32,723,000	32,670,000	32,690,000	32,661,000	32,629,000	32,615,000	32,603,000	32,628,000	32,640,000	30,857,000	32,034,000	29,355,000	29,332,000	29,225,000	29,348,000	29,130,000	29,097,000	29,156,000	29,059,000	29,098,000	29,391,000	28,151,000	27,842,000	27,028,000	27,665,000	28,164,000	27,956,000	28,300,000	28,417,000	26,678,000	26,619,000	27,210,000	27,144,000	26,572,000	26,981,000	26,683,000	25,463,000	24,100,000	24,127,000	23,310,000	21,879,000	18,585,000	18,220,000	17,113,000	17,087,000	16,815,000	16,840,000	16,694,000	16,629,000	16,395,000	16,507,000	16,290,000	16,172,000	16,056,000	16,105,000	15,982,000	15,961,000	15,751,000	15,887,000	15,655,000	15,511,000	15,000,000	15,020,000	14,954,000	14,894,000	14,569,000	14,628,000	14,517,000	14,353,000	14,138,000	14,121,000	14,121,000	14,121,000
diluted	31,733,000,000	31,865,000,000	32,139,000,000	32,184,000,000	33,228,000,000	32,223,000,000	32,363,000,000	32,021,000,000	32,570,000,000	32,782,000,000	33,799,000,000	33,571,000,000	34,400,000,000	32,719,000,000		33,661,000,000	34,463,000,000	33,570,000,000	33,665,000	33,605,000	32,810,000	32,723,000	33,441,000	33,478,000	33,482,000	33,284,000	33,165,000	33,183,000	33,206,000	33,093,000	32,835,000	32,914,000	32,711,000	32,696,000	32,562,000	32,690,000	32,427,000	32,412,000	32,468,000	32,342,000	32,360,000	32,578,000	33,328,000	33,000,000	33,073,000	33,713,000	34,209,000	34,001,000	34,345,000	34,462,000	26,678,000	26,619,000	34,044,000	33,991,000	33,718,000	33,862,000	33,668,000	33,389,000	26,501,000	24,127,000	23,310,000	21,879,000	20,213,000	20,058,000	17,113,000	17,087,000	16,815,000	16,840,000	16,694,000	16,629,000	16,417,000	16,529,000	16,311,000	16,198,000	16,094,000	16,139,000	16,022,000	16,010,000	15,937,000	15,979,000	15,911,000	15,847,000	15,560,000	15,605,000	15,573,000	15,504,000	15,199,000	15,224,000	15,178,000	14,890,000	14,325,000	14,332,000	14,121,000	14,121,000
net earnings attributable to noncontrolling interest		-900,000	-3,500,000	-7,400,000		-3,800,000	-3,700,000	-6,700,000	-200,000													-3,343,000	-7,794,000	-8,097,000	-6,386,000	-16,342,000	-15,692,000	-10,599,000	-3,018,000	-5,426,000			-3,647,000	-7,124,000			-14,465,000	-23,004,000	-26,803,000	-24,180,000	-21,348,000	-29,280,000	-31,072,000	-27,514,000	-10,695,000	-3,196,000	-12,777,000	-12,508,000	-4,966,000	-7,609,000	-2,574,000	-406,000			-2,458,000	-1,608,000			-254,750	-510,000	-257,000
net (earnings) loss attributable to noncontrolling interest					5,700,000					-2,000,000	-2,125,000	-5,400,000	-3,700,000		575,000	-4,500,000		5,200,000	303,750	-298,000	4,856,000										-3,514,750	-3,288,000			-8,971,750	1,582,000																	-553,000	-2,134,000			415,000	1,189,000				-252,000	-2,290,000	-1,514,000	-367,000
net loss on disposition of equipment						-200,000				100,000					-8,575,000	-700,000			-191,250	184,000
weighted-average common shares:
basic	30,917,000,000	30,953,000,000	31,171,000,000	31,186,000,000	31,376,000,000	31,246,000,000	31,102,000,000	31,131,000,000	31,117,000,000	31,025,000,000	31,983,000,000	31,757,000,000	32,588,000,000	32,719,000,000		32,588,000,000	32,582,000,000	32,510,000,000	32,648,000	32,573,000	32,810,000	32,723,000	32,670,000	32,690,000	32,661,000	32,629,000	32,615,000	32,603,000	32,628,000	32,640,000	30,857,000	32,034,000	29,355,000	29,332,000	29,225,000	29,348,000	29,130,000	29,097,000	29,156,000	29,059,000	29,098,000	29,391,000	28,151,000	27,842,000	27,028,000	27,665,000	28,164,000	27,956,000	28,300,000	28,417,000	26,678,000	26,619,000	27,210,000	27,144,000	26,572,000	26,981,000	26,683,000	25,463,000	24,100,000	24,127,000	23,310,000	21,879,000	18,585,000	18,220,000	17,113,000	17,087,000	16,815,000	16,840,000	16,694,000	16,629,000	16,395,000	16,507,000	16,290,000	16,172,000	16,056,000	16,105,000	15,982,000	15,961,000	15,751,000	15,887,000	15,655,000	15,511,000	15,000,000	15,020,000	14,954,000	14,894,000	14,569,000	14,628,000	14,517,000	14,353,000	14,138,000	14,121,000	14,121,000	14,121,000
diluted	31,733,000,000	31,865,000,000	32,139,000,000	32,184,000,000	33,228,000,000	32,223,000,000	32,363,000,000	32,021,000,000	32,570,000,000	32,782,000,000	33,799,000,000	33,571,000,000	34,400,000,000	32,719,000,000		33,661,000,000	34,463,000,000	33,570,000,000	33,665,000	33,605,000	32,810,000	32,723,000	33,441,000	33,478,000	33,482,000	33,284,000	33,165,000	33,183,000	33,206,000	33,093,000	32,835,000	32,914,000	32,711,000	32,696,000	32,562,000	32,690,000	32,427,000	32,412,000	32,468,000	32,342,000	32,360,000	32,578,000	33,328,000	33,000,000	33,073,000	33,713,000	34,209,000	34,001,000	34,345,000	34,462,000	26,678,000	26,619,000	34,044,000	33,991,000	33,718,000	33,862,000	33,668,000	33,389,000	26,501,000	24,127,000	23,310,000	21,879,000	20,213,000	20,058,000	17,113,000	17,087,000	16,815,000	16,840,000	16,694,000	16,629,000	16,417,000	16,529,000	16,311,000	16,198,000	16,094,000	16,139,000	16,022,000	16,010,000	15,937,000	15,979,000	15,911,000	15,847,000	15,560,000	15,605,000	15,573,000	15,504,000	15,199,000	15,224,000	15,178,000	14,890,000	14,325,000	14,332,000	14,121,000	14,121,000
maintenance services							69,900,000	69,900,000	75,200,000	83,800,000	100,000,000	122,900,000	98,000,000	85,500,000	87,200,000	101,500,000	86,600,000	72,400,000
leasing & management services							66,300,000	65,200,000	51,700,000	49,100,000	45,000,000	45,000,000	55,400,000	34,500,000	46,000,000	41,100,000	40,500,000	25,800,000
asset impairment, disposal, and exit costs											6,100,000	16,400,000
other costs
impairment of long-lived assets														24,200,000
income tax benefit										-10,000,000				3,800,000	-15,200,000	-1,100,000	-3,200,000	1,400,000	4,225,000	6,914,000	21,752,000	7,332,000							-2,248,000				11,301,000																						-10,595,000	-8,655,000	-5,348,000	-7,797,000	-4,376,000	301,000	-100,000	611,000	-66,000	-2,418,000	944,000	2,500,000	4,709,000	4,841,000	1,324,000	4,544,000			-1,904,000				8,229,000								-3,397,000				1,309,000		-2,261,000	-2,423,000	213,000	-228,000
loss before income tax and earnings from unconsolidated affiliates														-24,400,000				-800,000
net loss on extinguishment of debt																			1,524,000	4,763,000
wheels, repair & parts																			80,280,000	80,871,000	71,623,000	65,556,000	64,813,000	82,024,000	91,225,000	86,608,000	85,701,000	124,980,000	125,278,000	108,543,000																	105,023,000	140,663,000	136,540,000	113,401,000	114,003,000	131,167,000
leasing & services																			41,715,000	27,333,000	21,905,000	28,711,000	21,958,000	27,526,000	42,680,000	25,384,000	26,441,000	49,584,000	57,374,000	24,191,000	32,244,000	36,773,000	28,799,000	30,039,000	27,761,000	36,826,000	38,064,000	28,646,000	35,754,000	75,955,000	124,090,000	24,999,000	23,414,000	23,823,000	22,268,000	28,485,000	20,978,000	27,039,000	17,921,000	17,481,000	18,484,000	17,905,000	17,167,000	17,906,000	18,286,000	17,722,000	18,086,000	17,794,000	17,917,000	17,476,000	17,665,000	18,859,000	21,241,000	21,392,000	17,556,000	18,632,000	20,184,000	18,272,000	19,877,000	21,133,000	22,708,000	27,914,000	23,603,000	23,295,000	24,580,000	26,994,000	25,466,000	26,695,000	23,440,000	30,036,000	27,292,000	21,766,000	24,360,000	19,944,000	21,105,000	17,651,000	22,329,000	18,157,000	17,836,000	17,896,000	17,721,000	16,853,000	18,190,000	17,678,000
revenue - sum																			599,227,000	450,143,000	295,622,000	402,989,000	636,425,000	762,557,000	623,848,000	769,359,000	914,245,000	856,152,000	658,671,000	604,523,000	689,206,000	641,387,000	629,336,000	559,535,000	611,407,000	439,161,000	566,282,000	552,314,000	595,190,000	612,866,000	669,079,000	802,389,000	765,465,000	714,606,000	630,149,000	495,058,000	618,106,000	593,285,000	502,216,000	490,355,000	484,215,000	433,663,000	423,166,000	415,374,000	443,535,000	507,797,000	458,186,000	398,199,000	442,736,000	317,280,000	286,301,000	201,444,000	181,351,000	211,455,000	199,950,000	171,693,000	230,416,000	244,448,000	287,132,000	256,129,000	362,021,000	382,106,000	259,573,000	286,378,000	350,621,000	386,606,000	239,978,000	246,623,000	265,159,000	266,088,000	236,214,000	186,362,000	265,226,000	286,034,000	254,913,000	218,048,000	202,399,000	225,293,000	166,561,000	112,131,000	108,421,000	124,952,000	104,729,000	96,889,000
cost of revenue - sum																			501,094,000	375,011,000	277,951,000	362,318,000	569,350,000	655,026,000	537,512,000	677,170,000	780,708,000	749,580,000	604,827,000	531,990,000	583,319,000	532,880,000	523,989,000	470,221,000	511,485,000	349,460,000	447,357,000	439,563,000	475,507,000	485,768,000	549,188,000	617,624,000	590,776,000	565,320,000	504,839,000	406,990,000	512,071,000	496,510,000	444,365,000	428,796,000	423,915,000	383,644,000	374,891,000	367,595,000	388,994,000	445,859,000	406,700,000	351,742,000	391,660,000	279,130,000	257,690,000	175,278,000	152,860,000	175,587,000	175,784,000	150,051,000	198,108,000	217,755,000	270,977,000	238,178,000	319,022,000	333,473,000	224,900,000	250,441,000	289,904,000	328,830,000	208,156,000	217,506,000	225,328,000	221,616,000	196,031,000	153,469,000	226,388,000	251,052,000	228,366,000	193,242,000	172,868,000	199,576,000	149,397,000	95,980,000	92,020,000	108,759,000	94,134,000	85,901,000
earnings before income tax and earnings (loss) from unconsolidated affiliates																					-35,295,000
earnings before income taxes and earnings from unconsolidated affiliates																						-13,217,000	28,502,250	59,250,000	25,827,000	28,932,000			8,817,000	32,050,000			53,841,000		46,840,250	40,578,000	75,847,000	70,936,000	78,610,500	80,417,000		143,049,000	60,502,500	100,126,000	90,603,000	51,281,000	31,520,500	62,101,000		33,478,000	-3,925,750	-52,977,000	20,087,000		18,301,000	29,179,000	22,531,000
goodwill impairment																												10,025,000																								76,900,000
dividends declared per common share																							197.5	270	270	250	250	250	250	250	250	250	230	230	220	220	210	210	210	200	200	200	150	150	150	150
earnings before income taxes and loss from unconsolidated affiliates																											21,071,500	43,419,000			43,317,250	65,006,000		54,422,000															30,503,000					17,187,000				21,497,000	-1,065,500	-2,566,000	382,000		-515,500	8,813,000
earnings before loss from unconsolidated affiliates																											51,721,000	30,411,000			37,622,750	49,062,000		36,287,000															20,620,000					12,601,000				13,700,000	14,811,000	-2,265,000	282,000		-259,250	6,395,000
loss from unconsolidated affiliates																											-922,000	-4,564,000			-3,896,500	-12,823,000		-2,910,000															-67,000					-40,000				-372,000	-1,274,000	-539,000	-575,000	-587,000	-158,000	-318,000
basic earnings per common share:																														550				900				860				2,360				1,190				540				380				570												-200				160				120				520				360
diluted earnings per common share:																														540				830				790				2,150				1,010				490				350				480												-200				160				120				510				350
wheels & parts																															65,309,000	94,515,000	88,710,000	78,011,000	75,099,000	85,231,000	82,714,000	69,635,000	74,791,000	78,417,000	90,458,000	78,729,000	84,566,000	97,407,000	102,640,000	86,624,000
earnings before income taxes and earnings (loss) from unconsolidated affiliates																																									90,976,000
restructuring charges																																																56,000	540,000	879,000
wheel services, refurbishment & parts																																																					111,952,000	112,100,000	119,077,000	125,145,000	119,894,000	117,749,000	119,265,000	126,317,000	112,015,000	97,145,000
selling and administrative																																																						26,100,000	27,598,000	28,784,000	24,979,000	23,235,000	22,114,000	22,580,000	17,693,000	17,938,000	19,245,000	17,519,000	16,958,000	16,208,000	17,612,000	15,886,000	16,265,000	15,980,000	20,542,000	23,407,000	21,000,000	20,184,000	27,397,000	20,092,000	18,800,000		12,756,250	18,082,000	17,260,000		10,348,000	15,276,000	14,044,000		8,334,000	12,352,000
gain on disposition of equipment																																																						-1,408,000	-67,000	-2,585,000	-2,654,000	-3,658,000	-2,221,000	-1,678,000
loss on extinguishment of debt																																																											5,650,000	10,007,000
other costs - sum																																																													28,229,000	28,242,000	17,456,000	27,055,000	29,364,000	27,320,000	29,906,000	82,302,000	24,457,000	26,826,000	31,049,000	33,397,000	32,966,000	30,792,000	38,649,000	34,113,000	45,701,000	26,765,000	27,883,000	24,045,000	24,272,000	20,114,000	21,229,000	20,474,000	18,339,000	15,131,000	18,284,000	15,284,000	14,762,000	10,246,000	11,051,000	10,657,000	11,154,000	10,352,000
net income																																																													-293,000	-2,052,000			-4,385,000	-3,361,000																											-1,237,000	-743,000
net loss attributable to greenbrier																																																													-550,000	-2,304,000
basic loss per common share																																																													-20				-280
diluted loss per common share																																																													-20				-280
loss before income taxes and loss from unconsolidated affiliates																																																														-2,076,000
loss before loss from unconsolidated affiliates																																																														-1,465,000
basic loss per common share:																																																														-110				-190
diluted loss per common share:																																																														-110				-190
refurbishment & parts																																																															74,874,250	112,186,000	94,329,000	92,983,000	102,014,000	120,190,000	121,681,000	132,279,000	158,633,000	152,367,000	112,576,000	103,889,000	116,910,000	118,213,000	95,311,000	51,236,000
special charges																																																																				55,667,000					2,112,000	189,000	2,323,000	3,091,000	16,485,000							2,913,000					1,234,000
loss before income taxes and equity in unconsolidated subsidiary																																																																	-5,198,000
loss before equity in unconsolidated subsidiary																																																																	-4,254,000
equity in earnings of unconsolidated subsidiary																																																																	-131,000	-183,000									-35,000	223,000
net loss attributable to controlling interest																																																																	-4,752,000	-3,244,000
loss before income taxes, noncontrolling interest and equity in unconsolidated subsidiary																																																																		-5,678,000
loss before noncontrolling interest and equity in unconsolidated subsidiary																																																																		-3,178,000
less: net loss attributable to noncontrolling interest																																																																		117,000
earnings before income taxes, minority interest and equity in unconsolidated subsidiaries																																																																			-18,196,500	-55,609,000	-8,302,000	-8,875,000	5,522,000	15,236,000	1,707,000	5,145,000				2,352,000											2,402,000
earnings before minority interest and equity in unconsolidated subsidiaries																																																																			-15,519,500	-50,768,000	-6,978,000	-4,331,000	5,832,000	7,663,000	-197,000	2,189,000				1,772,000											3,711,000
minority interest																																																																			-134,000	687,000	351,000	568,000	1,168,000	272,000	1,367,000	375,000	1,287,000	178,000	42,000	-2,000															18,000	-18,000
equity in earnings of unconsolidated subsidiaries																																																																			-68,500	-457,000	-251,000	434,000	350,000	191,000	253,000	78,000			-463,000	100,000	-240,000	119,000	118,000	172,000	-80,500	417,000			-433,500	58,000
earnings before income tax expense, minority interest and equity in unconsolidated subsidiary																																																																											3,034,250	23,663,000
earnings before minority interest and equity in unconsolidated subsidiary																																																																											2,184,750	12,616,000																	-346,000	408,000
earnings before income taxes and equity in unconsolidated subsidiaries																																																																													-13,879,000		12,279,250	20,427,000	15,911,000	12,779,000	8,097,750	14,508,000	8,208,000		4,986,750	10,433,000
earnings before equity in unconsolidated subsidiaries																																																																													-5,650,000		12,516,000	10,561,000	8,445,000	7,845,000	10,531,000	8,627,000	4,811,000		7,574,000	6,317,000
equity in loss of unconsolidated subsidiaries																																																																																					-9,000	-731,000			-1,474,000	-318,000
earnings before income taxes and equity in loss of unconsolidated subsidiaries																																																																																						9,675,000
earnings before equity in loss of unconsolidated subsidiaries																																																																																						6,121,000
interest expense																																																																																									2,604,000	2,079,000	3,246,000	2,340,000	2,992,000	3,282,000
earnings before income taxes, minority interest and equity in loss of unconsolidated subsidiaries																																																																																										5,905,000
earnings before minority interest and equity in loss of unconsolidated subsidiaries																																																																																										3,415,000
earnings from continuing operations																																																																																										3,097,000	2,607,000	2,652,000
earnings from discontinued operations																																																																																										1,058,000	-183,500	354,000
continuing operations																																																																																										220	190	190	-50	-10
discontinued operations																																																																																										70	-12.5	20	-40	-40
earnings before income taxes and equity in unconsolidated subsidiary																																																																																											1,403,500	5,536,000
earnings before equity in unconsolidated subsidiary																																																																																											793,750	3,113,000
equity in unconsolidated subsidiary																																																																																											-354,000	-461,000	-437,000
earnings before income taxes, minority interest and equity in unconsolidated subsidiary																																																																																													-559,000	636,000
loss from continuing operations																																																																																													-765,000	-127,000
loss from discontinued operations																																																																																													-472,000	-616,000
equity in loss of unconsolidated subsidiary																																																																																														-517,000

Balance Sheets:

Quarterly

Annual

Unit: USD	2025-08-31	2025-05-31	2025-02-28	2024-11-30	2024-08-31	2024-05-31	2024-02-29	2023-11-30	2023-08-31	2023-05-31	2023-02-28	2022-11-30	2022-08-31	2022-05-31	2022-02-28	2021-11-30	2021-08-31	2021-05-31	2021-02-28	2020-08-31	2020-05-31	2020-02-29	2019-11-30	2019-08-31	2019-05-31	2019-02-28	2018-11-30	2018-08-31	2018-05-31	2018-02-28	2017-11-30	2017-08-31	2015-08-31	2014-08-31	2013-08-31	2012-08-31	2011-08-31	2011-05-31	2011-02-28	2010-11-30	2010-08-31	2010-05-31	2010-02-28	2009-11-30	2009-08-31	2009-05-31	2009-02-28	2008-08-31	2008-05-31	2007-11-30	2007-08-31	2007-05-31	2007-02-28	2006-11-30	2006-05-31	2006-02-28	2005-11-30	2005-05-31	2005-02-28	2004-11-30	2004-08-31	2004-05-31	2004-02-29	2003-11-30	2003-08-31	2003-05-31	2003-02-28	2002-11-30	2002-08-31

assets
cash and cash equivalents	306,100,000	296,800,000	263,500,000	300,000,000	351,800,000	271,600,000	252,000,000	307,300,000	281,700,000	321,400,000	379,900,000	263,300,000	543,000,000	449,700,000	586,800,000	410,800,000	646,769,000	628,200,000	593,499,000	833,745,000	735,258,000	169,899,000						530,655,000				611,466,000	172,930,000	184,916,000		53,571,000	50,222,000	34,302,000	99,089,000	49,247,000	98,864,000	116,595,000	67,907,000	65,393,000	1,217,000	17,024,000	41,066,000	1,217,000	1,217,000	6,685,000	20,808,000	28,319,000	6,169,000	14,359,000	186,660,000	51,665,000	100,695,000	67,288,000	12,063,000	16,305,000	12,110,000	13,793,000	4,247,000	51,212,000	75,700,000	73,100,000	59,240,000	57,488,000	58,777,000
restricted cash	20,300,000	45,200,000	38,400,000	12,900,000	16,800,000	20,200,000	20,000,000	14,000,000	21,000,000	20,100,000	19,700,000	17,200,000	16,100,000	16,100,000	15,700,000	27,100,000	24,627,000	8,689,000	8,614,000	8,342,000	8,704,000	8,569,000						8,819,000				8,892,000	8,869,000	20,140,000		6,277,000	2,113,000	2,217,000	1,927,000	2,637,000	2,525,000	1,715,000	1,149,000	3,400,000		447,000	516,000			2,910,000	2,693,000	2,651,000	2,602,000	2,603,000	2,059,000	1,535,000	89,000	499,000	530,000	1,195,000		1,826,000	2,467,000
accounts receivable	526,400,000	507,700,000	535,400,000	583,000,000	523,800,000	488,500,000	519,100,000	458,700,000	529,900,000	533,600,000	571,500,000	495,600,000	501,200,000	464,800,000	399,000,000	393,300,000	306,407,000	274,792,000	236,171,000	239,597,000	261,629,000	326,229,000						348,406,000				279,964,000	196,029,000	199,679,000		146,326,000	188,443,000	143,491,000	115,465,000	95,051,000	89,252,000	111,999,000	115,978,000	98,455,000	694,000	112,276,000	137,358,000	628,000	694,000	137,839,000	157,038,000
income tax receivable	44,900,000	33,700,000	31,500,000	26,700,000	45,100,000	20,000,000	20,900,000	10,500,000	42,200,000	29,800,000	22,400,000	28,900,000	39,800,000	129,400,000	106,000,000	106,200,000	112,135,000	75,135,000	62,103,000
inventories	688,300,000	707,600,000	692,500,000	753,800,000	770,900,000	812,400,000	827,000,000	883,600,000	823,600,000	888,000,000	910,600,000	874,900,000	815,300,000	781,700,000	728,500,000	631,400,000	573,594,000	553,137,000	522,984,000	529,529,000	675,442,000	709,115,000						432,314,000				400,127,000	445,535,000	305,656,000		316,741,000	323,512,000	289,740,000	250,379,000	225,203,000	185,604,000	166,582,000	157,104,000	155,060,000		174,561,000	204,218,000	7,830,000		201,952,000	194,883,000	197,642,000	230,287,000	209,277,000	148,662,000	118,644,000	121,183,000	179,458,000	147,636,000	126,115,000	113,122,000	91,667,000	129,815,000	103,279,000	91,310,000	76,422,000	69,949,000	65,195,000	56,868,000
leased railcars for syndication	225,900,000	248,600,000	260,400,000	228,100,000	130,700,000	155,300,000	134,400,000	159,800,000	187,400,000	119,400,000	102,500,000	272,500,000	111,100,000	142,900,000	80,000,000	99,100,000	51,647,000	154,017,000	109,287,000	107,671,000	136,144,000	255,073,000						130,926,000				91,272,000	212,534,000	125,850,000		97,798,000	30,690,000	58,316,000
equipment on operating leases	1,328,500,000	1,300,400,000	1,259,000,000	1,234,100,000	1,243,500,000	1,226,900,000	1,160,500,000	1,095,800,000	1,000,000,000	941,000,000	891,800,000	836,200,000	770,900,000	676,100,000	650,400,000	751,300,000	609,812,000	446,888,000	445,451,000	350,442,000	355,841,000	385,974,000						322,855,000				315,941,000	255,391,000	258,848,000		362,968,000	321,141,000	314,106,000	295,414,000	298,803,000	302,663,000	304,560,000	315,839,000	316,079,000		325,610,000	315,884,000			306,501,000	294,326,000	296,946,000	305,148,000	303,280,000	242,380,000	250,974,000	220,962,000	173,466,000	174,911,000	169,517,000		163,340,000	152,740,000	144,599,000	139,047,000	140,910,000	143,575,000	151,288,000	151,580,000
property, plant and equipment	726,700,000	711,700,000	702,600,000	695,500,000	711,700,000	648,300,000	636,100,000	618,100,000	619,200,000	600,400,000	618,400,000	617,600,000	645,200,000	642,700,000	646,500,000	654,400,000	670,221,000	676,010,000	687,468,000	711,524,000	719,155,000	723,326,000						457,196,000				428,021,000	303,135,000	243,698,000		182,429,000	161,200,000	150,091,000	144,163,000	138,650,000	132,614,000	127,128,000	125,310,000	126,997,000	3,256,000	127,332,000	128,670,000	22,053,000	3,256,000	114,894,000	112,813,000	109,645,000	101,892,000	115,221,000	78,755,000	76,873,000	72,917,000	69,722,000	67,598,000	58,083,000		55,095,000	56,406,000	56,108,000	56,684,000	56,953,000	57,091,000	57,652,000
investment in unconsolidated affiliates	99,300,000	95,000,000	88,200,000	83,900,000	87,300,000	90,300,000	90,000,000	89,400,000	88,700,000	86,400,000	83,400,000	94,200,000	92,500,000	96,200,000	90,200,000	83,100,000	79,898,000	79,420,000	70,820,000	72,354,000	75,508,000	79,082,000						61,414,000				108,255,000	87,270,000	69,359,000
intangibles and other assets	264,200,000	277,300,000	268,500,000	242,100,000	244,400,000	254,300,000	255,600,000	248,900,000	255,800,000	253,300,000	224,000,000	189,000,000	189,100,000	177,800,000	179,600,000	183,000,000	183,448,000	180,829,000	190,283,000	190,322,000	181,315,000	160,709,000						94,668,000				85,177,000	65,554,000	65,757,000		81,368,000	87,268,000	88,290,000	84,837,000	86,790,000	90,679,000	94,695,000	92,830,000	94,293,000	162,000	93,118,000	93,743,000	162,000	162,000	68,833,000	69,258,000	70,963,000	41,975,000
goodwill	130,000,000	129,200,000	127,000,000	127,400,000	128,500,000	128,000,000	128,000,000	128,600,000	128,900,000	128,300,000	128,300,000	127,700,000	127,300,000	128,700,000	130,000,000	130,300,000	132,110,000	133,050,000	132,685,000	130,308,000	130,035,000	129,684,000						78,211,000				68,590,000	43,265,000	43,265,000		137,066,000	137,066,000	137,066,000	137,066,000	137,066,000	137,066,000	137,066,000	137,066,000	137,066,000		137,066,000	192,733,000			169,001,000	168,987,000	166,813,000	182,179,000
liabilities and equity
accounts payable and accrued liabilities	651,700,000	696,200,000	669,000,000	653,100,000	731,400,000	652,900,000	649,300,000	640,900,000	743,500,000	741,600,000	722,600,000	676,500,000	725,100,000	639,000,000	581,200,000	540,400,000	569,805,000	480,373,000	448,571,000	463,880,000	488,969,000	499,898,000						449,857,000				415,061,000	455,213,000	383,289,000		329,508,000	316,536,000	261,361,000	226,285,000	210,341,000	181,638,000	179,248,000	163,630,000	168,675,000	11,755,000	202,596,000	228,238,000	2,235,000	11,755,000	217,949,000	239,713,000	224,225,000	239,212,000	219,708,000	188,478,000	172,020,000	207,516,000	194,194,000	182,279,000	177,448,000	178,550,000	153,818,000	135,492,000	102,012,000	114,459,000	110,327,000	117,493,000	118,385,000	108,244,000
debt
recourse	771,200,000
non-recourse	979,700,000
deferred income taxes	180,200,000	151,900,000	144,400,000	131,400,000	130,100,000	82,900,000	79,700,000	85,200,000	114,100,000	88,300,000	70,200,000	49,800,000	68,600,000	72,900,000	51,900,000	51,300,000	73,249,000	44,900,000	24,798,000	7,701,000	4,354,000	9,173,000						31,740,000				75,791,000	60,657,000	81,383,000		95,363,000	83,839,000	75,860,000	85,805,000	80,723,000	81,136,000	85,029,000	76,927,000	67,973,000		63,903,000	77,872,000			64,102,000	61,410,000	53,920,000	46,965,000	41,132,000	34,626,000	35,340,000	30,495,000	26,663,000	25,349,000	26,666,000		18,058,000	14,504,000	18,908,000	16,127,000	14,911,000	14,859,000	11,935,000	13,823,000
deferred revenue	44,300,000	32,500,000	35,000,000	45,500,000	58,900,000	74,000,000	81,500,000	42,200,000	46,200,000	56,600,000	73,000,000	53,200,000	35,300,000	33,300,000	43,000,000	36,600,000	42,797,000	43,676,000	42,572,000	42,467,000	63,536,000	70,869,000						105,954,000				129,260,000	33,836,000	20,603,000		17,194,000	5,900,000	5,821,000	5,791,000	12,480,000	11,377,000	11,104,000	13,625,000	17,312,000		15,258,000	19,995,000			13,447,000	18,052,000	26,093,000	14,330,000	11,040,000	14,395,000	9,931,000	3,870,000	3,882,000	4,750,000	8,708,000		2,233,000	37,961,000	36,090,000	39,776,000	23,568,000
commitments and contingencies
contingently redeemable noncontrolling interest	35,800,000	40,100,000	41,200,000	43,100,000	41,700,000	56,300,000	56,000,000	56,500,000	55,600,000	54,100,000	27,500,000	27,700,000	27,700,000	27,800,000	28,500,000	29,700,000	29,708,000	30,323,000	30,037,000	31,117,000	30,611,000	30,782,000						29,768,000				36,148,000
equity
greenbrier
preferred stock - without par value; 25,000 shares authorized; none outstanding
common stock - without par value; 50,000 shares authorized; 30,873 and 31,135 outstanding at august 31, 2025 and 2024
additional paid-in capital	364,700,000	361,100,000	378,300,000	373,800,000	375,100,000	370,200,000	366,100,000	361,300,000	364,400,000	374,100,000	403,000,000	425,600,000	424,800,000	420,500,000	413,400,000	408,500,000	469,721,000	467,806,000	466,994,000	460,400,000	459,668,000	458,908,000						442,569,000				315,306,000	295,444,000	235,763,000		252,256,000	242,286,000	240,173,000	237,781,000	173,753,000	172,404,000	171,606,000	119,667,000	118,428,000		85,171,000	84,676,000			79,166,000	78,332,000	76,514,000	74,544,000	72,870,000	69,726,000	67,689,000	64,211,000	60,761,000	59,305,000	57,339,000		54,956,000	54,338,000
retained earnings	1,199,000,000	1,172,500,000	1,122,700,000	1,080,500,000	1,035,000,000	966,900,000	942,700,000	919,100,000	897,500,000	882,200,000	896,000,000	871,900,000	897,700,000	886,500,000	892,500,000	888,700,000	881,740,000	858,947,000	848,192,000	885,460,000	894,619,000	875,885,000						830,898,000				709,103,000	458,599,000	282,559,000		185,890,000	127,182,000	114,547,000	117,862,000	118,412,000	120,716,000	113,006,000	108,444,000	113,195,000		116,807,000	167,345,000			166,618,000	165,408,000	153,507,000	141,784,000	149,134,000	137,479,000	128,070,000	120,760,000	104,598,000	96,453,000	92,549,000		80,931,000	74,557,000
accumulated other comprehensive loss	-31,200,000	-29,600,000	-40,800,000	-41,600,000	-34,000,000	-8,000,000	-8,900,000	-6,400,000	-7,300,000	-23,600,000	-21,700,000	-31,700,000	-45,600,000	-36,600,000	-53,300,000	-59,900,000	-43,713,000	-39,990,000	-46,684,000	-52,817,000	-63,066,000	-48,321,000						-23,366,000				-6,279,000	-21,205,000	-6,932,000		-6,369,000	-7,895,000	-3,264,000	-4,462,000	-7,342,000	-7,204,000	-11,923,000	-8,647,000	-9,435,000		-18,447,000	-24,463,000				-166,000		-990,000	-410,000	-50,000		-412,000	-2,380,000				-7,218,000	-8,338,000
total equity - greenbrier	1,532,500,000				1,376,100,000				1,254,600,000				1,276,900,000				1,307,748,000			1,293,043,000
noncontrolling interest	165,200,000	165,800,000	160,300,000	162,300,000	160,500,000	158,300,000	154,600,000	157,100,000	155,600,000	148,100,000	144,600,000	152,100,000	152,200,000	156,800,000	154,100,000	162,700,000	168,679,000	163,955,000	175,857,000	180,012,000	176,886,000	201,410,000						134,114,000				160,763,000	130,651,000	62,331,000		21,868,000	14,328,000	12,519,000	11,978,000	11,721,000	11,469,000	9,179,000	7,665,000	7,398,000
total equity	1,697,700,000	1,669,800,000	1,620,500,000	1,575,000,000	1,536,600,000	1,487,400,000	1,454,500,000	1,431,100,000	1,410,200,000	1,380,800,000	1,421,900,000	1,417,900,000	1,429,100,000	1,427,200,000	1,406,700,000	1,400,000,000	1,476,427,000	1,450,718,000	1,444,359,000	1,473,055,000	1,468,107,000	1,487,882,000						1,384,215,000				1,178,893,000	863,489,000	573,721,000	456,827,000	453,645,000	375,901,000	363,975,000	363,159,000	296,566,000	297,407,000	281,890,000	227,146,000
revenue																								3,462,255,000																					1,341,839,000			1,270,234,000	928,058,000
manufacturing	2,991,200,000	778,200,000	700,300,000	820,400,000	3,013,600,000	685,100,000	735,800,000	675,900,000	3,357,700,000	870,200,000	968,600,000	646,500,000	2,476,600,000	650,900,000	555,700,000	452,500,000	1,329,987,000	341,939,000	202,094,000	2,349,971,000	653,007,000	489,943,000													1,215,734,000			173,487,000	156,621,000	85,440,000						105,986,000	145,574,000			159,194,000		241,399,000	119,201,000	168,692,000	236,052,000	208,922,000	164,596,000	266,090,000	233,808,000	200,397,000	653,234,000	207,136,000	148,725,000	94,235,000	364,548,000	108,099,000	86,539,000	79,211,000	231,810,000
leasing & fleet management	249,000,000	64,500,000	61,800,000	55,500,000
cost of revenue
margin	607,500,000	151,500,000	138,600,000	173,600,000	558,500,000	123,800,000	122,200,000	121,300,000	441,100,000	128,100,000	116,800,000	69,500,000	306,000,000	76,300,000	54,800,000	47,600,000	231,607,000	75,132,000	17,671,000	353,131,000	107,531,000	86,336,000																38,150,000	28,611,000	26,166,000						26,693,000	16,155,000			35,937,000		57,776,000	31,822,000	29,117,000	44,472,000	40,183,000	32,893,000	34,982,000	26,547,000	24,806,000		25,717,000	17,164,000	16,151,000	54,177,000	16,193,000	10,595,000	10,988,000	43,697,000
selling and administrative	263,300,000				247,100,000				235,300,000				225,200,000				191,813,000			204,706,000																		22,580,000	17,693,000	17,938,000						15,886,000	16,265,000			20,184,000		20,092,000	18,800,000		18,082,000	17,260,000		15,276,000	14,044,000			12,352,000
net gain on disposition of equipment	-15,900,000	-7,000,000	-9,600,000		-13,100,000	-7,800,000	-4,900,000		-17,300,000	-2,300,000	-9,600,000	-3,300,000	-37,200,000		-25,100,000	-8,500,000	-1,176,000		-27,000	-20,004,000	-8,775,000	-6,697,000
asset impairment, disposal, and exit costs									46,700,000	16,400,000
earnings from operations	360,100,000	92,600,000	83,600,000	111,800,000	324,500,000	72,300,000	63,500,000	64,900,000	176,400,000	50,700,000	67,400,000	-4,800,000	118,000,000	19,600,000	25,200,000	11,800,000	40,970,000	25,709,000	-25,727,000	168,429,000	66,812,000	38,436,000													41,651,000			17,248,000
interest and foreign exchange	75,700,000	13,200,000	21,700,000	23,400,000	100,800,000	24,700,000	24,600,000	23,200,000	85,400,000	22,800,000	21,600,000	19,600,000	57,400,000	14,900,000	11,800,000	12,600,000	43,263,000	10,204,000	9,568,000	43,619,000	7,562,000	12,609,000																9,807,000	10,536,000	10,304,000						10,749,000	8,192,000			10,419,000		10,930,000	10,416,000	9,641,000	5,963,000	7,012,000	4,430,000	2,285,000	4,295,000	3,059,000		2,932,000
earnings before income tax and earnings from unconsolidated affiliates	284,400,000	79,400,000	61,900,000	88,400,000	223,700,000	47,600,000	38,900,000	41,700,000	91,000,000	27,900,000	45,800,000		60,600,000	4,700,000	13,400,000		-8,580,000	10,742,000	-35,295,000	124,810,000
income tax expense	-91,400,000	-18,100,000	-20,000,000	-33,400,000	-62,000,000	-10,700,000	-9,300,000			-3,600,000	-11,900,000									-40,184,000	-24,421,000	-7,463,000																												-2,956,000		-11,047,000		-580,000	-9,866,000	-7,466,000	-4,934,000	-5,881,000		-3,554,000		-4,116,000		-2,490,000
earnings before earnings from unconsolidated affiliates	193,000,000	61,300,000	41,900,000	55,000,000	161,700,000	36,900,000	29,600,000	31,700,000	66,400,000	24,300,000	33,900,000	-20,600,000	42,500,000	3,600,000	10,200,000	600,000	31,643,000	17,656,000	-13,543,000	84,626,000	34,829,000	18,364,000
earnings from unconsolidated affiliates	20,100,000	6,200,000	4,300,000	4,100,000	11,000,000	3,700,000	4,000,000	1,500,000	9,200,000	2,400,000	2,900,000	3,300,000	11,300,000	4,000,000	1,000,000	5,000,000	3,491,000	2,379,000	-378,000	2,960,000	1,040,000	1,651,000
net earnings	213,100,000	67,500,000	46,200,000	59,100,000	172,700,000	40,600,000	33,600,000	33,200,000	75,600,000	26,700,000	36,800,000	-17,300,000	53,800,000	7,600,000	11,200,000	5,600,000	35,134,000	20,035,000	-13,921,000	87,586,000	35,869,000	20,015,000																-2,804,000							21,305,000	-50,538,000	-6,878,000	28,108,000	12,192,000	2,642,000		13,017,000	-6,071,000	1,870,000	10,680,000	8,563,000	8,017,000	9,044,000	4,802,000	5,390,000	20,778,000	6,375,000	2,237,000	4,155,000	4,317,000	3,006,000			-26,094,000
net earnings attributable to noncontrolling interest	-9,000,000	-7,400,000		-3,800,000	-12,600,000	-6,700,000	-200,000		-13,100,000				-6,900,000				-2,657,000			-38,619,000	-8,097,000	-6,386,000																-510,000	-257,000
net earnings attributable to greenbrier	204,100,000	60,100,000	51,900,000	55,300,000	160,100,000	33,900,000	33,400,000	31,200,000	62,500,000	21,300,000	33,100,000	-16,700,000	46,900,000	3,100,000	12,800,000	10,800,000	32,477,000	19,737,000	-9,065,000	48,967,000	27,772,000	13,629,000		57,284,000											-11,048,000			-3,314,000
basic earnings per common share	6,550,000	1,920,000	1,660,000	1,770,000	5,150,000	1,090,000	1,080,000	1,000,000	1,950,000	670,000	1,010,000	-510,000	1,440,000	100,000	390,000	330,000	990	610	-280	1,500	850	420		1,760														-140								-3,000	-410					810	-380		670	550		600	320			440	150
diluted earnings per common share	6,350,000	1,860,000	1,560,000	1,720,000	4,960,000	1,060,000	1,030,000	960,000	1,890,000	640,000	970,000	-510,000	1,400,000	90,000	380,000	320,000	960	590	-280	1,460	830	410		1,730														-140								-3,000	-410					810	-380		670	540		580	310			420	150
weighted-average common shares
basic	31,171,000,000	31,186,000,000	31,376,000,000	31,246,000,000	31,102,000,000	31,131,000,000	31,117,000,000	31,025,000,000	31,983,000,000	31,757,000,000	32,588,000,000	32,719,000,000	32,569,000,000	32,588,000,000	32,582,000,000	32,510,000,000	32,648,000	32,573,000	32,810,000	32,670,000	32,690,000	32,661,000													26,678,000			24,127,000	23,310,000	21,879,000						16,840,000	16,694,000			16,172,000		16,105,000	15,982,000	15,961,000	15,887,000	15,655,000	15,511,000	15,020,000	14,954,000	14,894,000	14,569,000	14,628,000	14,517,000	14,353,000	14,138,000	14,121,000	14,121,000	14,121,000	14,121,000
diluted	32,139,000,000	32,184,000,000	33,228,000,000	32,223,000,000	32,363,000,000	32,021,000,000	32,570,000,000	32,782,000,000	33,799,000,000	33,571,000,000	34,400,000,000	32,719,000,000	33,631,000,000	33,661,000,000	34,463,000,000	33,570,000,000	33,665,000	33,605,000	32,810,000	33,441,000	33,478,000	33,482,000													26,678,000			24,127,000	23,310,000	21,879,000						16,840,000	16,694,000			16,198,000		16,139,000	16,022,000	16,010,000	15,979,000	15,911,000	15,847,000	15,605,000	15,573,000	15,504,000	15,199,000	15,224,000	15,178,000	14,890,000	14,325,000	14,332,000	14,121,000	14,121,000	14,121,000
revolving notes		378,800,000	372,000,000	444,900,000	351,600,000	348,400,000	300,800,000	279,400,000	297,100,000	280,000,000	310,300,000	290,500,000	296,600,000	303,300,000	292,200,000	516,300,000	372,176,000	325,150,000	275,839,000	351,526,000	416,535,000	37,196,000						27,725,000				4,324,000	50,888,000	13,081,000		60,755,000	90,339,000	13,897,000	10,000,000	9,902,000	2,630,000	11,753,000	17,266,000	12,807,000		65,924,000	101,474,000			52,598,000	39,568,000	58,300,000	242,925,000	210,387,000	21,313,000	18,099,000	14,540,000	16,443,000	74,166,000	44,723,000	8,947,000	24,362,000	31,027,000	6,007,000	5,267,000	5,971,000	5,511,000	2,943,000	3,571,000
notes payable		1,383,900,000	1,384,900,000	1,394,500,000	1,404,200,000	1,413,900,000	1,421,800,000	1,479,400,000	1,311,700,000	1,320,300,000	1,327,000,000	1,301,500,000	1,269,100,000	1,202,600,000	1,209,200,000	895,700,000	826,506,000	835,027,000	793,189,000	804,088,000	806,919,000	811,860,000						436,205,000				558,228,000	326,429,000	445,091,000		428,079,000	429,140,000	496,828,000	499,997,000	499,264,000	498,700,000	506,382,000	527,191,000	527,837,000	8,887,000	480,518,000	488,073,000	229,000	8,887,000	459,927,000	460,915,000	461,876,000	361,909,000	364,400,000	369,789,000	270,494,000	273,122,000	215,739,000	98,742,000	96,670,000	97,513,000	102,429,000	106,756,000	106,569,000	110,715,000	118,116,000	122,046,000	130,238,000	136,577,000
common stock - without par value; 50,000 shares authorized; 30,883 and 31,135 shares outstanding at may 31, 2025 and august 31, 2024
total equity – greenbrier		1,504,000,000	1,460,200,000	1,412,700,000		1,329,100,000	1,299,900,000	1,274,000,000		1,232,700,000	1,277,300,000	1,265,800,000		1,270,400,000	1,252,600,000	1,237,300,000		1,286,763,000	1,268,502,000		1,291,221,000	1,286,472,000						1,250,101,000				1,018,130,000	732,838,000
selling and administrative expense		65,900,000	64,600,000	62,000,000		59,300,000	63,600,000	56,300,000		63,300,000	59,000,000	53,400,000		57,400,000	54,700,000	44,300,000		49,239,000	43,425,000		49,494,000	54,597,000																																17,124,000			15,684,000			12,072,000			10,924,000	8,167,000	31,354,000	8,317,000	8,162,000	7,070,000	30,003,000
common stock - without par value; 50,000 shares authorized; 31,387 and 31,135 shares outstanding at february 28, 2025 and august 31, 2024
net (earnings) loss attributable to noncontrolling interest			5,700,000					-2,000,000		-5,400,000	-3,700,000			-4,500,000		5,200,000		-298,000	4,856,000																					-252,000
common stock - without par value; 50,000 shares authorized; 31,359 and 31,135 shares outstanding at november 30, 2024 and august 31, 2024
net (gain) loss on disposition of equipment				-200,000										-700,000				184,000
weighted-average common shares:
common stock - without par value; 50,000 shares authorized; 31,135 and 30,880 outstanding at august 31, 2024 and 2023
maintenance services					298,800,000	69,900,000	75,200,000	83,800,000	406,400,000	122,900,000	98,000,000	85,500,000	347,700,000	101,500,000	86,600,000	72,400,000
leasing & management services					232,300,000	65,200,000	51,700,000	49,100,000	179,900,000	45,000,000	55,400,000	34,500,000	153,400,000	41,100,000	40,500,000	25,800,000
equity:
common stock - without par value; 50,000 shares authorized; 31,131 and 30,880 shares outstanding at may 31, 2024 and august 31, 2023
other costs
common stock - without par value; 50,000 shares authorized; 31,131 and 30,880 shares outstanding at february 29, 2024 and august 31, 2023
impairment of long-lived assets												24,200,000
common stock - without par value; 50,000 shares authorized; 31,091 and 30,880 shares outstanding at november 30, 2023 and august 31, 2023
net income (gain) on disposition of equipment								100,000
income tax benefit								-10,000,000	-24,600,000			3,800,000	-18,100,000	-1,100,000	-3,200,000	1,400,000	40,223,000	6,914,000	21,752,000																			301,000	-100,000	611,000						4,841,000	1,324,000						8,229,000						-3,397,000				1,309,000		-4,700,000	-2,423,000	213,000	-228,000	2,072,000
common stock - without par value; 50,000 shares authorized; 30,880 and 32,603 outstanding at august 31, 2023 and 2022
net income on extinguishment of debt																	6,287,000	4,763,000
common stock - without par value; 50,000 shares authorized; 31,111 and 32,603 shares outstanding at may 31, 2023 and august 31, 2022
common stock - without par value; 50,000 shares authorized; 32,262 and 32,603 shares outstanding at february 28, 2023 and august 31, 2022
common stock - without par value; 50,000 shares authorized; 32,783 and 32,603 shares outstanding at november 30, 2022 and august 31, 2022
income before income tax and earnings from unconsolidated affiliates												-24,400,000				-800,000
net income attributable to noncontrolling interest												600,000			1,600,000
common stock - without par value; 50,000 shares authorized; 32,603 and 32,397 outstanding at august 31, 2022 and 2021
common stock - without par value; 50,000 shares authorized; 32,588 and 32,397 shares outstanding at may 31, 2022 and august 31, 2021
common stock - without par value; 50,000 shares authorized; 32,588 and 32,397 shares outstanding at february 28, 2022 and august 31, 2021
common stock - without par value; 50,000 shares authorized; 32,546 and 32,397 shares outstanding at november 30, 2021 and august 31, 2021
common stock - without par value; 50,000 shares authorized; 32,397 and 32,701 outstanding at august 31, 2021 and 2020
wheels, repair & parts																	298,330,000	80,871,000	71,623,000	324,670,000	82,024,000	91,225,000													469,222,000
leasing & services																	119,664,000	27,333,000	21,905,000	117,548,000	27,526,000	42,680,000													71,462,000			17,476,000	17,665,000	18,859,000						18,272,000	19,877,000			23,295,000		26,994,000	25,466,000	26,695,000	30,036,000	27,292,000	21,766,000	19,944,000	21,105,000	17,651,000	76,217,000	18,157,000	17,836,000	17,896,000	70,443,000	16,853,000	18,190,000	17,678,000	73,819,000
goodwill impairment
common stock - without par value; 50,000 shares authorized; 32,377 and 32,701 shares outstanding at may 31, 2021 and august 31, 2020
common stock - without par value; 50,000 shares authorized; 32,825 and 32,701 shares outstanding at february 28, 2021 and august 31, 2020
common stock - without par value; 50,000 shares authorized; 32,701 and 32,488 outstanding at august 31, 2020 and 2019
common stock - without par value; 50,000 shares authorized; 32,701 and 32,488 shares outstanding at may 31, 2020 and august 31, 2019
earnings before income taxes and earnings from unconsolidated affiliates																					59,250,000	25,827,000
dividends declared per common share																					270	270
common stock - without par value; 50,000 shares authorized; 32,642 and 32,488 shares outstanding at february 29, 2020 and august 31, 2019
manufacturing supplies and raw materials																							357,260,000		367,744,000	337,957,000	286,779,000		242,824,000	250,495,000	241,018,000
work-in-process																							184,286,000		130,573,000	142,290,000	107,377,000		94,878,000	86,442,000	90,457,000
finished goods																							202,780,000		99,646,000	100,314,000	104,933,000		63,702,000	76,581,000	84,438,000
excess and obsolete adjustment																							-10,520,000		-5,864,000	-6,415,000	-6,516,000		-4,886,000	-5,099,000	-4,542,000
trademarks and patents																							19,500,000	19,500,000
customer and supplier relationships																							16,071,000	16,071,000
identified intangible assets subject to amortization																							35,571,000	35,571,000
other identified intangible assets not subject to amortization																							860,000	860,000
total identified intangible assets																							36,431,000	36,431,000
preferred stock – without par value; 25,000 shares authorized; none outstanding
common stock – without par value; 50,000 shares authorized; 32,191 and 28,503 outstanding at august 31, 2018 and 2017
52
equity: greenbrier
common stock – without par value; 50,000 shares authorized; 28,503 and 28,205 outstanding at august 31, 2017 and 2016
common stock - without par value; 50,000 shares authorized; 28,907 and 27,364 outstanding at august 31, 2015 and 2014
50
common stock - without par value; 50,000 shares authorized; 27,364 and 28,084 outstanding at august 31, 2014 and 2013
total equity greenbrier																																		511,390,000		431,777,000	361,573,000	351,456,000	351,181,000	284,845,000	285,938,000
statement of operations data
revenue:
basic earnings per common share attributable to greenbrier:																																			-410
diluted earnings per common share attributable to greenbrier:																																			-410
weighted-average common shares outstanding:
cash dividends paid per share																																																													60
balance sheet data
total assets																																			1,289,741,000																										508,753,000
revolving notes and notes payable																																			422,098,000
other operating data
new railcar units delivered																																			11,600,000
new railcar backlog																																			14,400,000
lease fleet:
units managed																																			223,911,000
units owned																																			8,581,000
cash flow data
capital expenditures:
proceeds from sale of assets																																			75,338,000
depreciation and amortization:
common stock - without par value; 50,000 shares authorized; 27,143 and 25,186 outstanding at august 31, 2012 and 2011
common stock - without par value; 50,000 shares authorized; 25,186 and 21,875 outstanding at august 31, 2011 and 2010
34
investment in direct finance leases																																						123,000	131,000	139,000	1,795,000	7,368,000	7,707,000	7,826,000		8,100,000	8,221,000			8,950,000	9,040,000	9,195,000	8,594,000	8,456,000	4,968,000	5,361,000	7,314,000	13,395,000	13,253,000	17,125,000		24,628,000	27,150,000	34,971,000	41,821,000	46,585,000	52,855,000	63,661,000	69,536,000
preferred stock — without par value; 25,000 shares authorized; none outstanding
common stock — without par value; 50,000 shares authorized; 25,159 and 21,875 shares outstanding at may 31, 2011 and august 31, 2010
wheel services, refurbishment & parts																																						126,317,000	112,015,000	97,145,000
gain on disposition of equipment																																						-1,678,000
gain on extinguishment of debt																																						10,007,000
earnings before income taxes and income from unconsolidated affiliates																																						-2,566,000	382,000
earnings before income from unconsolidated affiliates																																						-2,265,000	282,000
income from unconsolidated affiliates																																						-539,000	-575,000	-587,000
assets held for sale																																							62,566,000	75,690,000	31,826,000	23,011,000	20,208,000	34,951,000		39,926,000	45,289,000			44,745,000	42,903,000	45,898,000	82,152,000	67,750,000
common stock — without par value; 50,000 shares authorized; 24,909 and 21,875 shares outstanding at february 28, 2011 and august 31, 2010
net income																																							-293,000	-2,052,000																											-1,237,000	-743,000
net income attributable to greenbrier																																							-550,000	-2,304,000
basic loss per common share																																							-20
diluted loss per common share																																							-20
common stock — without par value; 50,000 shares authorized; 21,881 and 21,875 shares outstanding at november 30, 2010 and august 31, 2010																																								22,000
income before income taxes and income from unconsolidated affiliates																																								-2,076,000
income before income from unconsolidated affiliates																																								-1,465,000
basic loss per common share:																																								-110
diluted loss per common share:																																								-110
losses in excess of investment in de-consolidated subsidiary																																										15,313,000	15,313,000	15,313,000		15,313,000	15,313,000
common stock - without par value; 50,000 shares authorized; 21,875 and 17,094 outstanding at august 31, 2010 and 2009																																									22,000
common stock — without par value; 50,000 shares authorized; 21,872 and 17,094 shares outstanding at may 31, 2010 and august 31, 2009																																										22,000
total stockholders’ equity greenbrier																																										272,711,000
controlling interest
common stock — without par value; 50,000 shares authorized; 17,136 and 17,094 shares outstanding at february 28, 2010 and august 31, 2009																																											17,000
total stockholders’ equity controlling interest																																											219,481,000	222,205,000
liabilities and stockholders’ equity
stockholders’ equity:
common stock — without par value; 50,000 shares authorized; 17,083 and 17,094 shares outstanding at november 30, 2009 and august 31, 2009																																												17,000
total stockholders’ equity																																												229,603,000
basic earnings per share																																													1,300			1,750	750
diluted earnings per share																																													1,300			1,750	750
liabilities and stockholders’ deficit
stockholders’ deficit																																													-15,313,000			-15,313,000	-15,313,000
minority interest																																														8,400,000	9,158,000			5,643,000	5,146,000	5,082,000	1,610,000	1,202,000											4,898,000	4,898,000	4,898,000	4,898,000	4,898,000
common stock — without par value; 50,000 shares authorized; 17,094 and 16,606 shares outstanding at may 31, 2009 and august 31, 2008																																														17,000
refurbishment & parts																																														120,190,000	121,681,000			103,889,000		118,213,000	95,311,000	51,236,000
special charges																																														55,667,000				189,000		3,091,000	16,485,000					2,913,000					1,234,000						1,896,000
earnings before income taxes, minority interest and equity in unconsolidated subsidiaries																																														-55,609,000	-8,302,000			5,145,000				2,352,000									2,402,000
earnings before minority interest and equity in unconsolidated subsidiaries																																														-50,768,000	-6,978,000			2,189,000				1,772,000									3,711,000
equity in earnings of unconsolidated subsidiaries																																														-457,000	-251,000			78,000			-463,000	100,000	119,000	118,000	172,000	417,000				58,000
common stock — without par value; 50,000 shares authorized; 16,714 and 16,606 shares outstanding at february 28, 2009 and august 31, 2008																																															17,000
intangibles and other																																																4,102,000
total assets acquired																																																34,613,000
total liabilities assumed																																																2,464,000
net assets acquired																																																32,149,000
participation																																																		617,000	4,355,000	2,975,000	2,736,000	11,849,000	11,086,000	10,701,000	22,386,000	21,447,000	21,052,000	37,513,000		36,731,000	36,351,000	56,378,000	55,901,000	55,373,000
common stock — without par value; 50,000 shares authorized; 16,179 and 16,169 shares outstanding at november 30, 2007 and august 31, 2007																																																		16,000
accumulated other comprehensive income																																																		2,227,000		4,000				370,000			2,109,000	1,419,000
basic earnings per common share:																																																		160				120			520			360
diluted earnings per common share:																																																		160				120			510			350
subordinated debt																																																					824,000	1,270,000	5,003,000	6,111,000	7,175,000	9,785,000	10,573,000	13,350,000	14,942,000	15,966,000	16,220,000	18,923,000	20,921,000	21,532,000	23,131,000	26,414,000	27,069,000
common stock - without par value; 50,000 shares authorized; 16,169 and 15,954 outstanding at august 31, 2007 and 2006																																																			16,000
30
accounts and notes receivable																																																				134,440,000	164,867,000	145,392,000	94,947,000	102,167,000	91,656,000	125,135,000	143,729,000	150,627,000		111,762,000	107,196,000	61,572,000	59,669,000	51,608,000	40,916,000	44,362,000	45,135,000
common stock — without par value; 50,000 shares authorized; 16,174 and 15,954 shares outstanding at may 31, 2007 and august 31, 2006																																																				16,000
earnings before income tax expense, minority interest and equity in unconsolidated subsidiary																																																				23,663,000
earnings before minority interest and equity in unconsolidated subsidiary																																																				12,616,000															-346,000	408,000	-1,586,000
equity in earnings of unconsolidated subsidiary																																																				223,000																	-2,578,000
common stock — without par value; 50,000 shares authorized; 15,991 and 15,954 shares outstanding at february 28, 2007 and august 31, 2006																																																					16,000
earnings before income taxes and equity in unconsolidated subsidiaries																																																					-13,879,000		20,427,000	15,911,000	12,779,000	14,508,000	8,208,000			10,433,000
earnings before equity in unconsolidated subsidiaries																																																					-5,650,000		10,561,000	8,445,000	7,845,000	8,627,000	4,811,000			6,317,000			6,264,000
goodwill and intangibles																																																						188,063,000
other																																																						28,197,000	32,755,000	28,411,000	29,003,000	25,930,000	18,819,000	21,179,000		23,916,000	22,896,000	23,423,000	23,483,000	24,874,000	19,959,000	20,413,000	21,507,000
common stock — without par value; 50,000 shares authorized; 15,971 and 15,954 shares outstanding at november 30, 2006 and august 31, 2006																																																						16,000
railcars held for sale																																																							60,675,000	83,211,000	103,606,000
subsidiary shares subject to mandatory redemption																																																									3,746,000	3,746,000	3,746,000	3,746,000		3,746,000	4,034,000
common stock — without par value; 50,000 shares authorized; 15,934 and 15,479 shares outstanding at may 31, 2006 and august 31, 2005																																																							16,000
common stock — without par value; 50,000 shares authorized; 15,840 and 15,479 shares outstanding at february 28, 2006 and august 31, 2005																																																								16,000
preferred stock — 0.001 par value...
common stock — 0.001 par value...																																																									16,000	15,000				15,000
preferred stock - 0.001 par value...
common stock - - 0.001 par value...																																																											15,000	15,000
equity in loss of unconsolidated subsidiaries																																																											-9,000	-731,000			-1,474,000	-318,000	-1,898,000
earnings before income taxes and equity in loss of unconsolidated subsidiaries																																																												9,675,000
earnings before equity in loss of unconsolidated subsidiaries																																																												6,121,000
earnings from continuing operations																																																													20,039,000			3,097,000	4,366,000	2,652,000			-4,164,000
earnings from discontinued operations																																																													739,000			1,058,000		354,000
continuing operations																																																													1,380			220	310	190	-50	-10	-300
leased equipment																																																													183,502,000
stockholders’ equity																																																													139,289,000
preferred stock – 0.001 par value...
common stock – 0.001 par value...																																																															15,000
interest expense																																																															2,604,000	2,079,000	11,859,000	2,340,000	2,992,000	3,282,000	15,456,000
discontinued operations																																																																58,222,000	51,234,000	55,228,000	45,416,000	37,288,000	65,751,000
subsidiary’s shares subject to mandatory redemption																																																																4,034,000
earnings before income taxes, minority interest and equity in loss of unconsolidated subsidiaries																																																																5,905,000
earnings before minority interest and equity in loss of unconsolidated subsidiaries																																																																3,415,000
earnings before income tax and equity in unconsolidated subsidiaries																																																																	10,964,000
income from discontinued operations																																																																	-49,000		-472,000	-616,000	-21,930,000
earnings before income taxes and equity in unconsolidated subsidiary																																																																		5,536,000
earnings before equity in unconsolidated subsidiary																																																																		3,113,000
equity in unconsolidated subsidiary																																																																		-461,000	-437,000
deferred participation																																																																			43,963,000	49,968,000	52,937,000
earnings before income taxes, minority interest and equity in unconsolidated subsidiary																																																																			-559,000	636,000
income from continuing operations																																																																			-765,000	-127,000
equity in loss of unconsolidated subsidiary																																																																				-517,000
property, plant, and equipment																																																																					58,292,000
earnings before income tax, minority interest and equity in unconsolidated subsidiary																																																																					-3,658,000

Cashflow Statements:

Quarterly

Annual

Unit: USD	2026-02-28	2025-11-30	2025-08-31	2025-05-31	2025-02-28	2024-11-30	2024-08-31	2024-05-31	2024-02-29	2023-11-30	2023-08-31	2023-05-31	2023-02-28	2022-11-30	2022-08-31	2022-05-31	2022-02-28	2021-11-30	2021-08-31	2021-05-31	2021-02-28	2020-11-30	2020-08-31	2020-02-29	2019-11-30	2019-08-31	2019-05-31	2019-02-28	2018-11-30	2018-08-31	2018-05-31	2018-02-28	2017-11-30	2017-08-31	2017-05-31	2017-02-28	2016-11-30	2016-08-31	2016-05-31	2016-02-29	2015-11-30	2015-08-31	2015-05-31	2015-02-28	2014-11-30	2014-08-31	2014-05-31	2014-02-28	2013-11-30	2013-08-31	2013-05-31	2013-02-28	2012-11-30	2012-08-31	2012-05-31	2012-02-29	2011-11-30	2011-08-31	2011-05-31	2011-02-28	2010-11-30	2010-08-31	2010-05-31	2010-02-28	2009-11-30	2009-08-31	2009-05-31	2009-02-28	2008-11-30	2008-08-31	2008-05-31	2008-02-29	2007-11-30	2007-08-31	2007-05-31	2007-02-28	2006-11-30	2006-08-31	2006-05-31	2005-08-31	2005-05-31	2005-02-28	2004-11-30	2004-08-31	2004-05-31	2004-02-29	2003-11-30	2003-08-31	2003-05-31	2003-02-28	2002-11-30

cash flows from operating activities
net earnings	13,900,000	37,300,000	40,300,000	67,500,000	46,200,000	59,100,000	65,300,000	40,600,000	33,600,000	33,200,000	29,400,000	26,700,000	36,800,000	-17,300,000	29,400,000	7,600,000	11,200,000	5,600,000	35,649,000	20,035,000	-13,921,000	-6,629,000	7,691,000	44,026,000	24,011,000	50,799,000	25,847,000	5,783,000	23,382,000	37,158,000	36,239,000	65,289,000	33,377,000	32,254,000	31,241,000	49,001,000	47,966,000	60,363,000	59,532,000	66,216,000	98,713,000	97,956,000	70,325,000	61,046,000	35,982,000	60,133,000	46,096,000	20,553,000	22,997,000	23,290,000	-55,623,000	14,391,000	12,561,000				13,328,000									6,686,000	-50,539,000	-6,878,000	-3,329,000	7,350,000	8,127,000	1,423,000	2,642,000	13,194,000	13,017,000	-6,071,000	1,870,000	12,338,000	10,680,000	10,586,000	9,044,000	4,802,000	5,390,000	8,011,000	6,375,000	2,237,000	4,155,000	3,292,000
adjustments to reconcile net earnings to net cash from operating activities:
deferred income taxes	-5,000,000	11,400,000	33,400,000	-4,700,000	14,800,000	-1,400,000	49,900,000	2,400,000	-6,200,000	-29,300,000	25,600,000	15,500,000	-14,900,000	-19,000,000	-4,000,000	21,200,000	500,000	-4,800,000	30,903,000	3,228,000	14,631,000	2,338,000	1,961,000	-6,714,000	-6,515,000	253,000	-17,073,000	-1,045,000	-2,360,000	-1,671,000	-3,745,000	-29,215,000	-5,865,000	-12,438,000	14,543,000	-484,000	2,756,000	1,208,000	-4,856,000	-8,306,000	3,019,000	-14,906,000	-2,000,000	-3,852,000	607,000	2,058,000	-5,297,000	-1,734,000	286,000	-271,000	-13,594,000	3,263,000	940,000	6,816,000	-1,027,000	2,163,000	3,665,000	7,675,000	-9,945,000	5,082,000	-413,000	-2,032,000	9,357,000	8,954,000	-1,227,000	-1,373,000	-13,969,000	1,021,000	2,522,000	3,737,000	5,186,000	1,304,000	2,692,000	7,955,000	5,275,000	-2,890,000	303,000		-692,000		1,266,000	-1,432,000	845,000	7,541,000	3,554,000
depreciation and amortization	31,500,000	32,500,000	32,200,000	29,700,000	30,400,000	29,200,000	33,300,000	28,000,000	27,500,000	26,800,000	26,500,000	26,900,000	26,900,000	26,000,000	26,100,000	25,000,000	25,500,000	25,400,000	25,080,000	24,769,000	24,822,000	26,046,000	27,398,000	59,338,000	29,335,000	22,898,000	20,018,000	20,115,000	20,700,000	19,195,000	18,707,000	18,084,000	18,370,000	18,513,000	16,036,000	14,985,000	15,595,000	21,664,000	13,839,000	14,868,000	12,974,000	11,898,000	10,860,000	10,348,000	12,050,000	9,598,000	10,071,000	9,856,000	10,897,000	9,924,000	10,125,000	10,475,000	10,923,000	11,768,000	10,281,000	10,433,000	9,889,000	10,119,000	9,548,000	9,307,000	9,319,000	9,544,000	9,351,000	9,224,000	9,392,000	9,410,000	9,275,000	9,428,000	9,556,000	9,753,000	8,814,000	8,263,000	8,256,000	8,330,000	8,318,000	8,652,000	7,526,000		6,414,000		6,147,000	5,408,000	5,285,000	5,311,000	5,202,000
net gain on disposition of equipment	-13,000,000	-17,700,000	900,000	-7,000,000			-500,000	-7,800,000			-2,100,000	-2,300,000	-9,600,000	-3,300,000	-2,900,000	-700,000	-25,100,000	-8,500,000	-411,000	184,000	-27,000	-922,000	-573,000	-10,656,000	-3,959,000	-3,489,000	-11,019,000	-12,102,000	-14,353,000	-4,556,000	-14,825,000	-5,817,000	-19,171,000	-4,947,000	-1,581,000	-2,090,000	-1,122,000	-4,470,000	-311,000	-10,746,000	-269,000	-406,000	-720,000	-121,000	-83,000	-353,000	-5,619,000	-5,416,000	-3,651,000	-8,457,000	-5,131,000
stock based compensation expense	5,900,000	3,500,000	4,100,000	4,700,000	4,500,000	4,200,000	4,900,000	4,100,000	4,700,000	3,400,000	3,300,000	2,900,000	2,700,000	3,200,000	4,600,000	5,000,000	4,800,000	1,100,000	2,236,000	3,517,000	4,516,000	4,435,000	732,000	7,237,000	3,157,000	361,000	3,481,000	4,117,000	3,194,000	9,003,000	7,737,000	6,635,000	5,939,000	7,420,000	8,153,000	5,511,000	5,343,000	4,982,000	8,315,000	5,439,000	5,301,000	6,283,000	5,983,000	3,782,000	3,411,000	4,831,000	3,592,000	1,503,000	1,359,000	1,459,000	1,956,000	1,001,000	1,886,000		3,234,000	1,748,000	1,742,000		2,407,000	1,273,000	1,281,000
earnings from unconsolidated affiliates	-4,200,000	-4,000,000
noncontrolling interest adjustments	-2,500,000	-1,900,000	-1,500,000	1,200,000	3,500,000	4,400,000	2,200,000	100,000	1,200,000	400,000	5,600,000	500,000	-3,200,000	5,500,000	900,000	1,300,000	-300,000	-300,000	1,916,000	1,628,000	-14,000	-1,271,000	-1,390,000	9,038,000	1,736,000	80,000	2,016,000	1,386,000	3,920,000	1,797,000	3,622,000	-1,680,000	-875,000	-1,880,000	4,458,000	526,000	-3,781,000	-311,000	-1,978,000	2,553,000	262,000	-3,156,000	-1,453,000	8,872,000	12,952,000
other	-5,300,000	1,000,000	800,000	1,000,000	700,000	900,000	700,000	1,100,000	1,100,000	900,000	900,000	900,000	1,000,000	900,000	400,000	1,000,000	1,700,000	700,000	634,000	594,000	575,000	560,000	574,000	-39,000	-391,000	-1,771,000	107,000	1,523,000	286,000	343,000	387,000	481,000	477,000	-1,862,000	469,000	319,000	229,000	-4,000	73,000	-146,000	637,000	176,000	459,000	397,000	152,000	9,000	573,000	2,241,000	527,000	840,000	-283,000	93,000	-1,705,000	10,076,000	-173,000	1,735,000	2,024,000	6,671,000	36,000	-9,000	64,000	1,439,000	1,313,000	1,228,000	257,000	2,453,000	735,000	78,000	139,000	439,000	17,000	122,000	-242,000	-1,251,000	-254,000	66,000	40,000		11,000		-402,000	891,000	10,000	1,204,000	1,300,000
decrease in assets:
accounts receivable	36,300,000	16,700,000	-19,800,000	32,900,000	47,600,000	-65,300,000	-34,100,000	31,100,000	-60,400,000	72,600,000	1,500,000	41,700,000	-65,900,000	8,100,000	-37,900,000	-66,800,000	-6,600,000	-86,900,000	-32,957,000	-38,425,000	-4,358,000	-6,377,000	24,895,000	46,109,000	58,488,000	-14,904,000	4,628,000	-31,536,000	54,834,000	-58,571,000	701,000	9,829,000	-35,510,000	1,837,000	40,162,000	-62,015,000	-5,256,000	-17,718,000	16,023,000	10,533,000	-40,889,000	22,421,000	-2,513,000	-14,062,000	7,806,000	2,477,000	-33,126,000	26,205,000	-19,305,000	8,176,000	-18,578,000	18,594,000	-15,515,000	27,334,000	1,531,000	-24,789,000	33,687,000	-45,125,000	-27,067,000	-18,898,000	-5,462,000	24,045,000	1,298,000	-19,001,000	16,088,000	453,000	29,366,000	9,857,000	18,845,000	-283,000	4,931,000	-35,833,000	23,564,000
income tax receivable	6,200,000	26,400,000	-11,200,000	-2,300,000	-4,700,000	18,400,000	-25,100,000	900,000	-10,400,000	31,700,000	-12,400,000	-7,400,000	6,500,000	10,900,000	89,600,000	-23,500,000			-37,000,000	-13,032,000
inventories	43,600,000	-1,500,000	22,700,000	-9,700,000	49,400,000	-400,000	43,600,000	14,800,000	53,200,000	-61,600,000	63,500,000	9,700,000	-34,100,000	-56,300,000	-43,700,000	-57,700,000	-102,100,000	-64,400,000	-74,194,000	-57,289,000	-48,409,000	13,404,000	154,052,000	-55,158,000	-69,662,000	26,645,000	-15,425,000	-91,343,000	-63,045,000	-22,322,000	5,941,000	6,100,000	-16,311,000	44,422,000	-29,536,000	21,435,000	-39,108,000	69,057,000	-37,268,000	22,196,000	-274,000	-18,943,000	-8,474,000	-48,790,000	-67,642,000	12,047,000	-30,869,000	22,325,000	-13,178,000	28,159,000	18,094,000	14,257,000	-41,465,000	30,457,000	17,003,000	-9,663,000	-34,088,000	-33,573,000	-38,730,000	-5,071,000	-39,492,000	-18,333,000	-11,343,000	-3,035,000	-11,565,000	35,653,000	34,476,000	43,882,000	-15,260,000	-14,556,000	-12,497,000	-2,407,000	-232,000	3,344,000	34,449,000	-22,154,000	-1,379,000		-28,207,000		-32,298,000	18,572,000	-5,863,000	-20,803,000	37,954,000
leased railcars for syndication	-5,300,000	55,200,000	25,700,000	12,900,000	-63,100,000	-83,300,000	24,700,000	-23,100,000	13,300,000	-20,000,000	-66,400,000	-17,200,000	155,200,000	-195,300,000	37,000,000	-65,400,000	17,300,000	-29,500,000	43,628,000	-17,544,000	-44,210,000	6,222,000	25,884,000	-123,033,000	-13,132,000	-52,314,000	32,590,000	40,340,000	-116,726,000	15,971,000	4,135,000	-38,588,000	-35,541,000	57,137,000	-54,025,000	3,608,000	34,295,000	-9,669,000	44,214,000	45,668,000	-61,059,000	300,000	-15,350,000	-20,832,000	-54,732,000	-32,359,000	-11,817,000	-23,456,000	9,853,000	814,000	-34,893,000	13,459,000	43,501,000	-32,510,000	9,364,000	-15,586,000	-37,339,000	27,626,000
other assets	8,200,000	7,800,000	28,800,000	700,000	-1,800,000	1,900,000	11,200,000	-100,000	-2,400,000	4,900,000	-8,700,000	-30,100,000	-5,800,000	-7,000,000	-12,000,000	-7,600,000	-2,600,000	-5,900,000	-6,676,000	3,758,000	-5,119,000	2,224,000	-5,783,000
increase in liabilities:
accounts payable and accrued liabilities	10,000,000	-76,200,000	-49,200,000	17,000,000	-14,000,000	-20,800,000	30,700,000	-400,000	9,400,000	-103,200,000	8,000,000	18,000,000	44,000,000	-53,700,000	88,100,000	62,000,000	39,300,000	-24,100,000	91,296,000	31,883,000	14,000,000	-27,257,000	-31,594,000	-67,988,000	-47,421,000	25,329,000	2,123,000	39,407,000	-10,949,000	19,134,000	-11,536,000	29,758,000	16,676,000	10,371,000	-39,745,000	24,430,000	-25,693,000	-2,721,000	-33,259,000	22,157,000	-77,605,000	49,284,000	-14,386,000	50,553,000	-13,032,000	26,855,000	36,994,000	24,650,000	-25,137,000	28,176,000	12,888,000	-8,457,000	-48,036,000	3,835,000	-13,453,000	25,594,000	260,000	53,400,000	34,267,000	14,498,000	28,508,000	1,425,000	18,162,000	-3,654,000	-3,156,000	-33,523,000	-30,912,000	3,268,000	-25,347,000	590,000	22,482,000	25,734,000	-27,005,000	10,329,000	-31,715,000	21,431,000	-17,547,000		14,397,000		18,064,000	-7,643,000	-10,426,000	25,877,000	18,343,000
deferred revenue	38,400,000	-14,300,000	10,900,000	-4,700,000	-10,300,000	-11,800,000	-15,600,000	-7,700,000	39,400,000	-4,600,000	-10,800,000	-4,600,000	19,500,000	17,600,000	2,400,000	-9,500,000	6,600,000	-5,100,000	-751,000	1,085,000	5,625,000	-5,521,000	-22,020,000	1,381,000	-10,012,000	8,437,000	-14,671,000	-16,355,000	3,314,000	3,606,000	18,752,000	-34,041,000	-8,548,000	46,689,000	-3,182,000	643,000	-11,111,000	26,409,000	-17,487,000	42,513,000	-723,000	9,628,000	-4,070,000	1,262,000	6,488,000	-545,000	6,881,000	5,549,000	-172,000	-7,386,000	-7,035,000	-5,103,000	11,039,000	-687,000	16,648,000	-4,512,000	-145,000	155,000	35,000	-6,678,000	1,201,000	379,000	-2,414,000	-3,581,000	-1,829,000	2,066,000	-5,457,000	-1,150,000	1,712,000	2,843,000	3,143,000	2,036,000	-6,118,000	-8,110,000	11,390,000	1,630,000	-6,906,000		4,084,000		-531,000	-3,945,000	5,624,000	317,000	-35,728,000
net cash from operating activities	158,700,000	76,200,000	98,000,000	139,200,000	93,600,000	-65,100,000	191,200,000	84,000,000	99,100,000	-44,700,000	70,000,000	97,600,000	159,100,000	-255,500,000	178,000,000	-108,100,000	-23,600,000	-196,700,000	83,313,000	-29,064,000	-103,445,000	8,671,000	183,229,000	-133,174,000	-70,319,000	72,882,000	52,499,000	-49,503,000	-97,119,000	23,715,000	87,279,000	32,001,000	-39,654,000	207,666,000	-9,139,000	52,856,000	29,006,000	136,992,000	45,363,000	212,806,000	-63,491,000	162,776,000	37,350,000	46,037,000	-53,830,000	54,167,000	14,920,000	80,275,000	-13,455,000	85,355,000	-14,351,000	59,073,000	-25,485,000	62,423,000	61,549,000	1,076,000	-8,992,000	43,055,000	-25,562,000	-4,299,000	-47,446,000	6,337,000	28,434,000	2,693,000	5,097,000	31,224,000	33,419,000	78,196,000	-22,374,000	12,158,000	90,891,000	-62,161,000	-8,770,000	16,517,000	106,515,000	-34,766,000	-41,939,000	31,900,000	31,007,000	22,376,000	7,674,000	-29,480,000	-22,509,000	17,286,000	35,458,000	-52,165,000	-14,634,000	10,417,000	13,795,000	-4,786,000	1,690,000
cash flows from investing activities
proceeds from sales of assets	79,700,000	42,500,000	1,900,000	19,800,000	55,000,000	600,000	7,100,000	42,000,000	25,500,000	400,000	2,500,000	14,200,000	48,300,000	13,800,000	400,000	6,500,000	120,600,000	28,000,000	3,771,000	820,000	2,645,000	8,691,000	4,963,000	41,827,000	27,463,000	24,697,000	36,851,000	29,382,000	34,497,000	23,396,000	24,686,000	30,082,000	75,060,000	3,805,000	446,000	10,709,000	9,189,000	15,008,000	8,166,000	39,188,000	41,353,000	667,000	1,609,000	946,000	2,073,000	14,720,000	10,844,000	14,620,000	14,051,000	35,727,000	17,310,000
capital expenditures	-30,100,000	-57,500,000	-71,300,000	-82,700,000	-67,300,000	-59,100,000	-73,600,000	-134,200,000	-122,200,000	-68,300,000	-108,200,000	-84,200,000	-112,700,000	-57,000,000	-131,900,000	-50,800,000	-11,100,000	-186,900,000	-76,237,000	-12,421,000	-11,749,000	-38,604,000	-11,553,000	-40,834,000	-23,216,000	-48,288,000	-51,769,000	-69,499,000	-28,677,000	-58,192,000	-65,153,000	-23,610,000	-29,893,000	-32,217,000	-32,654,000	-8,610,000	-12,584,000	-87,306,000	-23,733,000	-12,379,000	-15,595,000	-30,097,000	-22,036,000	-22,542,000	-31,314,000	-35,705,000	-17,993,000	-9,987,000	-6,542,000	-11,150,000	-14,152,000	-10,384,000	-25,141,000	-45,768,000	-36,404,000	-20,706,000	-15,007,000	-24,613,000	-29,557,000	-18,596,000	-11,536,000	-10,723,000	-8,650,000	-7,677,000	-11,939,000	-5,342,000	-18,357,000	-6,675,000	-8,473,000	-13,167,000	-48,479,000	-1,523,000	-14,475,000	-10,852,000	-48,090,000	-47,894,000	-30,458,000	-73,423,000	-5,522,000	-19,645,000	-14,634,000	-22,449,000	-12,395,000	0	-15,085,000	0	-9,500,000	0	-2,460,000	0	-3,535,000
free cash flows	128,600,000	18,700,000	26,700,000	56,500,000	26,300,000	-124,200,000	117,600,000	-50,200,000	-23,100,000	-113,000,000	-38,200,000	13,400,000	46,400,000	-312,500,000	46,100,000	-158,900,000	-34,700,000	-383,600,000	7,076,000	-41,485,000	-115,194,000	-29,933,000	171,676,000	-174,008,000	-93,535,000	24,594,000	730,000	-119,002,000	-125,796,000	-34,477,000	22,126,000	8,391,000	-69,547,000	175,449,000	-41,793,000	44,246,000	16,422,000	49,686,000	21,630,000	200,427,000	-79,086,000	132,679,000	15,314,000	23,495,000	-85,144,000	18,462,000	-3,073,000	70,288,000	-19,997,000	74,205,000	-28,503,000	48,689,000	-50,626,000	16,655,000	25,145,000	-19,630,000	-23,999,000	18,442,000	-55,119,000	-22,895,000	-58,982,000	-4,386,000	19,784,000	-4,984,000	-6,842,000	25,882,000	15,062,000	71,521,000	-30,847,000	-1,009,000	42,412,000	-63,684,000	-23,245,000	5,665,000	58,425,000	-82,660,000	-72,397,000	-41,523,000	25,485,000	2,731,000	-6,960,000	-51,929,000	-34,904,000	17,286,000	20,373,000	-52,165,000	-24,134,000	10,417,000	11,335,000	-4,786,000	-1,845,000
net cash from investing activities	46,100,000	-15,000,000	-75,600,000	-62,500,000	-11,300,000	-53,700,000	-66,100,000	-91,200,000	-95,800,000	-67,300,000	-105,200,000	-69,600,000	-62,200,000	-43,000,000	-127,900,000	-43,700,000	106,300,000	-158,700,000	-68,468,000	-15,286,000	-9,107,000	-24,899,000	-5,485,000	10,766,000	7,199,000	-385,359,000	-14,918,000	-39,915,000	-3,789,000	-73,565,000	-41,778,000	-10,096,000	45,220,000	-62,242,000	-65,783,000	2,045,000	12,242,000	-89,158,000	-16,609,000	26,500,000	23,559,000	-31,287,000	-44,577,000	-23,896,000	-31,771,000	-33,157,000	-7,653,000	4,644,000	6,088,000	23,452,000	2,521,000	-3,554,000	-16,260,000	-45,598,000	-27,650,000	-6,475,000	-9,224,000	-23,135,000	-30,111,000	-8,181,000	-7,837,000	-3,724,000	-3,618,000	-4,904,000	-11,924,000	5,295,000	-14,974,000	-5,664,000	-7,629,000	-11,029,000	-132,610,000	4,138,000	-12,649,000	-6,061,000	-2,328,000	-4,021,000	-274,165,000	-67,851,000	9,525,000	-8,509,000	-10,328,000	5,669,000	-8,160,000	1,185,000	-15,276,000	2,510,000	-3,591,000	-967,000	5,630,000	15,767,000	4,598,000
cash flows from financing activities
net change in debt with maturities of 90 days or less	0	-5,000,000
proceeds from debt with maturities longer than 90 days	403,800,000	31,800,000
repayments of debt with maturities longer than 90 days	-404,300,000	-11,900,000
debt issuance costs			-500,000	-4,000,000	-100,000	-900,000	-100,000	100,000	-400,000	-2,500,000	-400,000	0			-100,000	-2,000,000	-4,000,000	-1,200,000	-7,930,000						-4,000	-5,656,000	-204,000	-4,000	-2,766,000					0	368,000			-1,000	-11,000	344,000	-4,493,000					0												-3,612,000
repurchase of stock	-400,000	-12,900,000					0	0	0	-1,300,000	-8,900,000	-31,300,000							0																			0	-252,000	-13,043,000	-20,203,000	-21,499,000	-1,505,000	-25,216,000	-21,730,000	-7,290,000	-17,404,000	-8,018,000	-871,000
dividends	-19,800,000	-1,700,000	-9,900,000	-9,900,000	-9,400,000	-10,400,000	-9,300,000	-9,400,000	-9,400,000	-10,300,000	-9,400,000	-8,600,000	-8,800,000	-9,300,000	-8,900,000	-8,800,000	-8,800,000	-9,300,000	-8,781,000	-8,836,000	-8,866,000	-9,180,000	-8,829,000	-17,312,000	-343,000	-8,121,000	-8,421,000	-16,184,000	-467,000	-8,048,000	-8,320,000	-13,227,000	-319,000	-6,271,000	-6,481,000	-5,991,000	-6,147,000	-5,941,000	-5,787,000	-11,470,000	-105,000	-4,422,000	-4,053,000																								0				-1,328,000							-1,276,000	-1,271,000	-1,197,000	-899,000
cash distribution to joint venture partner	-1,200,000	-6,700,000	-7,000,000	-4,200,000	-1,700,000	-5,000,000	-2,100,000	-2,800,000			-4,600,000	-2,000,000	-3,900,000	-2,500,000	-7,500,000	-900,000	-7,500,000	-1,000,000	-1,237,000	-20,409,000	-836,000	-2,810,000	-2,817,000	-8,706,000	-4,531,000	-5,164,000	-6,657,000	-1,873,000	-3,185,000	-3,620,000	-27,655,000	-14,858,000	-26,900,000	-1,244,000	-7,781,000	-8,301,000	-11,185,000	-32,382,000	-9,167,000	-35,889,000	-17,654,000	-7,886,000	-8,067,000	-2,147,000	-2,275,000	-1,967,000	-1,505,000
tax payments for net share settlement of restricted stock	-100,000	-8,400,000	0	-100,000	0	-5,500,000	100,000	0	0	-5,200,000	-300,000	0	0	-2,300,000	-200,000	0	-100,000	-3,400,000	-506,000	-445,000	-20,000	-2,337,000	0	-1,895,000	-1,870,000	0	-1,559,000	-15,000	-4,747,000	-7,000	-2,517,000	-138,000	-5,061,000
net cash from financing activities	-27,400,000	-14,800,000	-32,300,000	-37,700,000	-95,100,000	63,400,000	-19,900,000	26,400,000	-51,100,000	130,800,000	-17,000,000	-82,900,000	14,400,000	9,300,000	45,900,000	-5,800,000	74,100,000	130,700,000	19,211,000	72,644,000	-16,624,000	-97,973,000	-84,713,000	-34,787,000		279,668,000	-15,878,000	-22,431,000	35,542,000	-7,260,000	-29,543,000	-28,574,000	-23,890,000	-2,530,000	-15,587,000	249,300,000	-21,546,000	-42,015,000	-100,549,000	-150,956,000	71,605,000	-77,453,000	-14,587,000	7,563,000	21,653,000	-31,357,000	47,693,000	-22,970,000	-10,927,000	-43,429,000	-10,573,000	-40,088,000	28,358,000	-12,303,000	-26,319,000	15,770,000	-5,942,000	-492,000	-9,107,000	61,549,000	6,041,000	-19,402,000	24,766,000	2,643,000	-3,431,000	16,677,000	-46,926,000	-43,723,000	49,425,000	5,559,000	34,046,000	57,093,000	6,780,000	-18,530,000	-83,393,000	29,973,000	187,733,000	-7,550,000	95,228,000	-8,135,000	60,882,000	19,407,000	30,665,000	-20,154,000	-10,636,000	1,092,000	-6,263,000	-6,850,000	-5,565,000	-9,229,000	-7,577,000
effect of exchange rate changes	10,200,000	2,600,000	-5,700,000	1,100,000	1,800,000	-300,000	-28,400,000	600,000	-1,500,000	-200,000	13,400,000	-3,200,000	7,800,000	10,600,000	-2,700,000	20,900,000	7,800,000	-8,800,000	451,000	6,482,000	-1,805,000	5,208,000	5,094,000	-2,824,000	981,000	-9,800,000	-3,691,000	3,264,000	-2,439,000	-2,204,000	-11,997,000	1,271,000	-1,736,000	3,159,000	10,170,000	7,761,000	-8,591,000	2,420,000	2,694,000	-2,442,000	-6,970,000	-3,889,000	-915,000	-3,150,000	-2,010,000	-3,229,000	-397,000	754,000	2,085,000	451,000	-1,628,000	-1,078,000	1,100,000	4,134,000	-3,331,000	9,440,000	-5,209,000	-3,508,000	-7,000	773,000	-375,000	-942,000	-894,000	2,082,000	-536,000	5,967,000	4,439,000	-6,508,000	-6,614,000	-731,000	1,239,000	679,000	516,000	563,000	1,356,000	624,000	-164,000	-265,000	-765,000	184,000	-3,003,000	162,000	4,199,000
increase in cash and cash equivalents and restricted cash	187,600,000	49,000,000				-55,700,000				18,600,000									34,507,000				98,125,000
cash and cash equivalents and restricted cash
beginning of period	0	326,400,000	0	0	0	368,600,000	0	0	0	302,700,000	0	0	0	559,100,000	0	0	0	671,400,000	0	0	0	842,087,000	0	338,487,000	338,487,000	0	0	0	539,474,000	0	0	0	611,466,000	0	0	0	222,679,000	0	0	0	172,930,000	0	0	0	184,916,000	0	0	0	97,435,000	0	0	0	53,571,000	0	0	0	50,222,000	0	0	0	98,864,000	0	0	0	76,187,000	0	0	0	5,957,000	0	0	0	20,808,000	0	0	0	142,894,000	0	0	0	0	0	12,110,000	0	0	1,598,000	75,700,000	0	0	0	58,777,000
end of period	187,600,000	375,400,000	-15,600,000	40,100,000	-11,000,000	312,900,000	76,800,000	19,800,000	-49,300,000	321,300,000	-38,800,000	-58,100,000	119,100,000	280,500,000	93,300,000	-136,700,000	164,600,000	437,900,000	34,507,000	34,776,000	-130,981,000	733,094,000	98,125,000	178,468,000	262,250,000	-42,609,000	18,012,000	-108,585,000	471,669,000	-59,314,000	3,961,000	-5,398,000	591,406,000	146,053,000	-80,339,000	311,962,000	233,790,000	8,239,000	-69,101,000	85,908,000	197,633,000	50,147,000	-22,729,000	26,554,000	118,958,000	-13,576,000	54,563,000	62,703,000	81,226,000	65,829,000	-24,031,000	14,353,000	41,284,000	8,656,000	4,249,000	19,811,000	20,855,000	15,920,000	-64,787,000	49,842,000	49,247,000	-17,731,000	48,688,000	2,514,000	65,393,000	59,163,000	-24,042,000	22,301,000	18,765,000			-251,000	6,685,000	-7,511,000	22,150,000	-8,190,000	14,359,000	-43,766,000	134,995,000	5,916,000	55,225,000	-4,242,000	16,305,000	-1,683,000	9,546,000	-46,965,000	51,212,000	2,600,000	13,860,000	1,752,000	57,488,000
balance sheet reconciliation
cash and cash equivalents	160,000,000	361,800,000	9,300,000	33,300,000	-36,500,000	300,000,000	80,200,000	19,600,000	-55,300,000	307,300,000	-39,700,000	-58,500,000	116,600,000	263,300,000	93,300,000	-137,100,000	176,000,000	410,800,000	18,569,000	34,701,000	-131,048,000	724,547,000	98,487,000	169,899,000	253,602,000	-29,941,000	18,125,000	-121,297,000	462,797,000
restricted cash	27,600,000	13,600,000	-24,900,000	6,800,000	25,500,000	12,900,000	-3,400,000	200,000	6,000,000	14,000,000	900,000	400,000	2,500,000	17,200,000	0	400,000	-11,400,000	27,100,000	15,938,000	75,000	67,000	8,547,000	-362,000	8,569,000	8,648,000	-12,668,000	-113,000	12,712,000	8,872,000
total cash and cash equivalents and restricted cash as presented above	187,600,000	375,400,000	-15,600,000	40,100,000	-11,000,000	312,900,000	76,800,000	19,800,000	-49,300,000	321,300,000	-38,800,000	-58,100,000	119,100,000	280,500,000	93,300,000	-136,700,000	164,600,000	437,900,000	34,507,000	34,776,000	-130,981,000	733,094,000	98,125,000	178,468,000	262,250,000	-42,609,000
cash paid during the period for
interest	22,100,000	17,200,000	18,000,000	27,400,000	19,000,000	17,800,000	19,800,000	23,400,000	20,100,000	22,400,000	12,900,000	25,800,000	13,300,000	18,000,000	11,800,000	18,400,000	4,300,000	10,600,000	7,455,000	4,915,000	9,408,000	6,347,000	14,953,000	11,608,000	6,601,000	6,980,000	2,750,000	6,860,000	1,740,000	5,798,000	3,846,000	5,572,000	3,662,000	5,462,000	3,556,000	1,433,000	3,511,000	1,425,000	3,924,000	2,870,000	4,058,000	2,026,000	6,070,000	1,703,000	5,736,000	1,531,000	6,206,000	1,141,000	5,469,000	1,120,000	5,977,000	-1,495,000	9,362,000	1,920,000	2,647,000	1,694,000	6,476,000	2,022,000	11,777,000	1,548,000	12,525,000	1,829,000	13,784,000	942,000	12,854,000	1,375,000	13,492,000	3,401,000	13,699,000	4,681,000	13,459,000	3,388,000	13,746,000	2,838,000	14,670,000	4,277,000	11,929,000	2,230,000	10,333,000	1,820,000	2,972,000	3,366,000	2,029,000	2,384,000	3,026,000	3,088,000	2,878,000	3,657,000	2,114,000	3,913,000	2,127,000
income taxes paid	-400,000	-19,900,000		12,500,000	7,700,000	8,100,000		8,600,000	23,800,000	7,900,000		-5,800,000	11,900,000	7,600,000																																											-2,613,000					-1,010,000
non-cash activity
transfers from leased railcars for syndication and inventories to equipment on operating leases
capital expenditures accrued in accounts payable and accrued liabilities	1,200,000	3,500,000	1,700,000	2,600,000	-3,100,000	8,500,000	45,400,000	2,700,000	8,500,000	4,500,000	18,800,000	-1,200,000	500,000	3,900,000	5,200,000	3,100,000	1,000,000	1,600,000	3,231,000	1,097,000	-985,000	1,831,000	1,330,000	3,237,000	6,888,000	4,930,000	2,643,000	4,840,000	6,972,000	11,666,000	-10,880,000	-2,092,000	14,840,000	11,844,000	-482,000	-664,000	5,447,000	4,879,000	-2,901,000	499,000	5,931,000	6,454,000	-2,147,000	1,494,000	2,957,000
change in accounts payable and accrued liabilities associated with dividends declared	-7,400,000	8,500,000	-600,000	-200,000	-300,000	600,000			1,000,000	-700,000	-500,000	100,000	300,000	-200,000		-500,000	1,000,000	-600,000	-202,000	-145,000	892,000	-568,000	-227,000	-96,000	8,021,000	-158,000	127,000			-191,000	76,000			-180,000	24,000			-166,000	-38,000
transfers between leased railcars for syndication and inventories and equipment on operating leases		8,500,000		0	28,300,000	14,200,000		2,000,000	14,100,000	50,700,000		300,000	6,400,000	33,300,000		2,500,000	24,300,000	-13,800,000
asset impairment, disposal, and exit costs											6,100,000
net changes in debt with maturities of 90 days or less
repurchase of stock, including excise tax
income taxes															-66,100,000	9,400,000	2,400,000	-700,000	1,163,000	2,808,000	1,929,000	5,203,000	23,546,000	25,503,000	11,692,000	16,180,000	14,410,000	24,007,000	7,487,000	4,204,000	41,430,000	20,404,000	385,000	4,693,000	21,769,000	8,385,000	10,433,000	47,588,000	14,817,000	14,701,000	48,349,000	52,131,000	37,259,000	22,083,000	28,487,000	27,620,000	12,360,000	11,589,000	17,694,000	13,276,000	8,116,000	1,443,000	6,845,000	4,588,000	6,496,000									695,000	250,000	293,000	559,000	653,000	687,000	-289,000	1,784,000	167,000	1,958,000	-502,000	1,599,000	1,840,000	48,000	7,401,000	892,000	2,843,000	4,660,000	4,672,000	112,000	-123,000	45,000	3,365,000	2,605,000	2,420,000	1,253,000	28,000	22,000
transfer from leased railcars for syndication and inventories to equipment on operating leases																			110,399,000	171,000	2,276,000	75,677,000			55,626,000				14,304,000	15,404,000
change in accounts payable and accrued liabilities associated with repurchase of stock																																						0	252,000
change in accounts payable and accrued liabilities associated with cash distributions to joint venture partner											-400,000	0	0	2,500,000	800,000	500,000	-300,000	400,000	-427,000	-130,000	427,000	778,000	16,000	535,000	626,000	-367,000	2,593,000			-15,000	-367,000			-656,000	437,000			-203,000	86,000
cash distribution from unconsolidated affiliates and other				400,000	1,000,000	4,800,000	400,000	1,000,000	900,000	600,000	500,000	400,000			1,700,000	600,000			4,698,000	164,000	0	488,000	1,420,000	11,273,000	4,452,000
net change in revolving notes with maturities of 90 days or less				400,000	-110,100,000	122,000,000		-9,500,000	-2,500,000	31,000,000		52,900,000	19,000,000	-83,400,000		-21,700,000	-223,200,000	147,600,000		49,129,000	108,180,000	-9,738,000		10,246,000	2,399,000		4,125,000	-1,167,000	-4,840,000		12,347,000	1,105,000	2,561,000						-75,000,000	-87,000,000	113,000,000		20,000,000	38,000,000	15,000,000						43,552,000	-44,514,000	27,935,000		-30,398,000	-9,566,000	-9,150,000		6,582,000	-3,943,000	1,055,000
proceeds from revolving notes with maturities longer than 90 days				2,500,000	40,700,000	5,000,000	49,700,000	62,400,000	24,400,000	90,100,000	0	0	110,000,000	110,000,000	0				0	0	2,000,000	110,000,000	1,500,000																			1,888,000	0	19,507,000	23,056,000	3,145,000	2,936,000	24,264,000	7,474,000	6,330,000	11,879,000	10,773,000	9,195,000	7,129,000	9,998,000	39,089,000	7,557,000	11,786,000	3,373,000	3,806,000	6,194,000
repayments of revolving notes with maturities longer than 90 days				900,000	-3,900,000	-31,200,000	-800,000	-5,600,000	-300,000	-139,900,000	-25,000,000	-85,000,000	-110,000,000	-35,000,000					-1,000,000	0	-111,000,000	-175,000,000																0	0			-19,507,000	-18,056,000	-13,471,000	-4,610,000	-8,146,000	-11,592,000	-36,331,000	-16,878,000	-8,089,000	-11,879,000	-6,057,000	-8,941,000	-10,361,000	-7,755,000	-10,212,000	-5,606,000	-3,806,000
proceeds from issuance of notes payable				48,300,000	300,000	200,000	100,000	1,900,000	0	178,600,000	0	0	34,000,000	41,000,000	75,000,000	0			18,140,000							300,000,000	0	0	225,000,000	22,000	-180,000	11,791,000	2,138,000	1,093,000	0											0								250,000				0												0	49,601,000			0
repayments of notes payable				-49,800,000	-10,900,000	-10,800,000	-10,700,000	-10,700,000	-58,500,000	-9,700,000	-9,700,000	-8,900,000	-9,000,000	-9,200,000	-8,400,000	-7,400,000	-5,600,000	-2,000,000	-29,286,000	-293,478,000	-6,082,000	-8,908,000	-6,177,000	-17,120,000	-9,749,000	-3,168,000	-3,162,000	-3,188,000	-173,453,000	-2,995,000	-3,218,000	-13,247,000	-2,809,000	-2,828,000	-1,750,000	-1,969,000	-1,750,000	-2,838,000	-15,731,000	-1,969,000	-1,761,000	-1,971,000	-1,764,000	-1,982,000	-1,758,000	-1,976,000	-124,359,000	-1,239,000	-1,223,000	-1,239,000	-55,341,000	-1,021,000	-1,230,000	-1,042,000	-1,244,000	-3,541,000	-1,243,000	-72,791,000	-236,246,000	-1,089,000	-1,234,000	-9,910,000	-24,316,000	-2,794,000	-1,247,000	-1,088,000	-7,954,000	-3,205,000	-4,189,000	-1,350,000	-1,386,000	-2,852,000	-1,331,000	-1,306,000	-836,000	-2,315,000	-931,000	-7,451,000	-1,464,000	-1,357,000	-57,427,000	-6,627,000	-2,280,000	-5,035,000	-4,027,000	-7,906,000	-4,571,000	-13,680,000	-4,426,000	-8,514,000	-6,294,000
decrease in cash and cash equivalents and restricted cash				40,100,000				19,800,000			-38,800,000	-58,100,000	119,100,000	-278,600,000		-136,700,000	164,600,000	-233,500,000			-130,981,000	-108,993,000		-160,019,000	-76,237,000				-67,805,000
net loss on disposition of equipment						-200,000				100,000
investment in and advances to unconsolidated affiliates																							-315,000	-1,500,000	-1,500,000	0	0	0	-11,393,000	-5,000,000	-3,716,000			-6,564,000	-33,518,000	0	-550,000	-3,767,000	-3,948,000	-3,274,000	-1,866,000	-4,530,000	-24,208,000											38,000					-700,000
net changes in revolving notes with maturities of 90 days or less
transfer from property, plant and equipment, net to intangibles and other assets, net for assets moved to assets held for sale
investments in and advances to / repayments from unconsolidated affiliates												0	-4,400,000	900,000		0	-4,400,000	200,000		-3,849,000	-3,000	4,526,000
repurchase of stock accrued in accounts payable and accrued liabilities												700,000
impairment of long-lived assets													0	24,200,000
net loss on extinguishment of debt																			1,524,000
accretion of debt discount																			2,436,000	1,782,000	1,438,000	1,419,000	1,402,000	2,718,000	1,350,000	1,190,000	1,103,000	1,089,000	1,076,000	1,062,000	1,049,000	1,036,000	1,024,000	1,011,000	999,000															0	730,000	876,000	849,000	843,000	817,000	812,000	787,000	1,137,000	1,826,000	1,822,000	1,798,000	1,880,000	2,438,000	2,147,000	2,116,000
investment by joint venture partner																			0											0	0	0	6,500,000					0								0	0	0	419,000	629,000	628,000	767,000	1,182,000	952,000												0	0	0	1,400,000	600,000	1,350,000	4,050,000	600,000	1,350,000	3,750,000
cash distribution to / from unconsolidated affiliates and other														-700,000
net income on extinguishment of debt
decrease (increase) in assets:
cash (received) paid during the period for
goodwill impairment																										0																								0
acquisitions, net of cash acquired																																																																						119,000				-281,000	-3,433,000	0	-264,470,000
issuance of 2.25% convertible notes in connection with the acquisition of the manufacturing business of ari
conversion of unconsolidated affiliate note receivable to investment in unconsolidated affiliates																								4,760,000	4,760,000
cash flows from operating activities:
cash flows from investing activities:
cash flows from financing activities:
balance sheet reconciliation:
cash paid during the period for:
conversion of 3.5% convertible notes
transfer from leased railcars for syndication to equipment on operating leases																								55,739,000			-7,000							71,000	2,515,000	0	6,082,000	2,561,000	-80,000	14,047,000	31,568,000
net cash provided by (used in) financing activities																									-14,098,000
cash distribution from joint ventures																													1,784,000
cash distribution from unconsolidated affiliates																																					550,000				616,000
conversion of 2018 senior convertible notes																														0
decrease in cash, cash equivalents and restricted cash
cash, cash equivalents and restricted cash
total cash, cash equivalents and restricted cash as presented above																												-108,585,000	471,669,000
dividends declared and accrued in accounts payable and accrued liabilities																													7,830,000				6,282,000								5,745,000	113,000	31,000	-4,013,000	4,170,000
decrease in restricted cash																														385,000	-329,000	-36,000	53,000	-139,000	-57,000	-54,000	15,637,000	-15,610,000	208,000			43,000	-190,000	-10,582,000	11,000,000									-188,000	-3,840,000			104,000	-290,000			-810,000	-566,000	2,251,000	-2,317,000	-540,000	187,000	-189,000	433,000	356,000	1,143,000								-519,000		-38,000			741,000	641,000
excess tax benefit from restricted stock awards																																						27,000	0	-41,000	2,827,000	-56,000	-894,000	888,000	2,970,000	0	-1,000	-42,000	152,000	123,000	596,000	-36,000	217,000	-1,043,000
increase in cash and cash equivalents																														-59,314,000	3,961,000	-5,398,000	-20,060,000	146,053,000	-80,339,000	311,962,000	11,111,000	8,239,000	-69,101,000	85,908,000	24,703,000	50,147,000	-22,729,000			-13,576,000	54,563,000											15,920,000	-64,787,000			-17,731,000	48,688,000	2,514,000	-10,794,000	59,163,000	-24,042,000	22,301,000	12,808,000					-7,511,000			-128,535,000	-43,766,000		5,916,000			4,195,000	-1,683,000	9,546,000			2,600,000	13,860,000
transfer of property, plant and equipment, net to (from) intangibles and other assets
excess tax deficiency from restricted stock awards
transfer from inventories to equipment on operating leases
conversion of convertible notes, net of debt issuance costs																																										17,638,000
excess tax benefit (deficiency) from restricted stock awards																																			57,000	11,000	-2,464,000
decrease in liabilities:
gain on contribution to joint venture
transfer of property, plant and equipment, net to intangibles and other assets																																																		662,000
transfer of inventories to accounts receivable
increase in restricted cash																																									-949,000				-30,000	328,000	-504,000	11,000	-168,000		-7,000	-1,577,000	-1,045,000				-38,000				-112,000												140,000		36,000	-45,000	-436,000
transfer of leased railcars for syndication to equipment on operating leases																																																		1,797,000	0
transfer of equipment on operating leases to inventories																																																		64,000	0
increase in assets:
transfer of inventories to leased railcars for syndication																																															-85,000	36,000	2,740,000
transfer from leased railcars for syndication to equipment on operating equipment																																												0	3,313,000
investment in unconsolidated affiliates																																													-2,500,000																-279,000
decrease in cash and cash equivalents																																													-65,958,000				-16,209,000				-12,287,000				-29,367,000				-49,617,000										-6,434,000	-251,000	-14,123,000														-24,488,000				-1,289,000
investment in and net advances to unconsolidated affiliates																																															0	0	-1,253,000		-630,000
loss on extinguishment of debt																																																										5,585,000
proceeds from equity offering
expenses from equity offering																																																										0	-15,000
gain on sales of leased equipment																																																					-1,408,000	-67,000	-2,585,000	-2,654,000	-3,658,000	-2,220,000
proceeds from sales of equipment																																																					10,086,000	307,000	13,195,000	14,317,000	5,741,000	4,551,000	427,000	9,698,000	4,054,000	8,184,000	11,725,000	402,000	2,667,000	11,067,000	3,088,000	1,094,000	306,000	1,223,000	6,961,000	4,992,000	1,422,000	4,976,000	50,057,000	43,829,000	20,833,000	5,198,000	14,872,000	9,403,000	3,120,000	17,545,000	2,460,000	5,498,000	797,000	5,865,000	4,057,000	1,861,000	4,601,000	13,474,000	4,018,000
investment in and net advances from unconsolidated affiliates																																																					-160,000				70,000
proceeds from the issuance of notes payable																																																									2,500,000
special items
contract placement fee																																																														0
transfer of other assets to property, plant and equipment
net income																																																							20,725,000
adjustments to reconcile net income to net cash from operating activities:
gross proceeds from equity offering																																																											0
net proceeds from issuance of notes payable																																																														328,000	0	0	1,712,000
investment in and advances (to) from unconsolidated affiliates
dividends paid																																																																										-1,293,000
adjustment to tax reserve																																																																		0	0
warrant valuation
net loss																																																											-2,805,000	-293,000	-2,052,000		6,077,000	-4,385,000	-3,361,000																									-1,238,000	-743,000
adjustments to reconcile net loss to net cash from operating activities:
principal payments received under direct finance leases																																																											9,000	7,000	36,000	32,000	123,000	120,000	115,000	110,000	108,000	106,000	105,000	101,000	95,000	91,000	88,000	85,000	86,000	111,000	229,000	338,000	393,000	1,209,000	1,239,000	1,453,000	1,832,000	2,113,000	2,121,000	2,370,000	2,857,000	3,004,000	3,489,000	3,686,000	4,115,000
income taxes paid, net of refunds																																																											353,000	431,000	82,000
gain on sales of equipment																																																												-1,961,000	-633,000			-100,000	-851,000			-69,000	-289,000	-1,012,000	-4,992,000	-1,226,000	-780,000	-2,619,000	-5,006,000	-2,553,000	-3,222,000		-7,794,000		-782,000	-3,432,000	-86,000	-393,000	-46,000
assets held for sale																																																												-4,799,000	-44,530,000	-9,429,000	-2,609,000	15,079,000	-3,218,000	8,249,000	5,031,000	19,444,000	-10,883,000	5,692,000	50,647,000	-58,459,000	-8,501,000	2,822,000	33,780,000	-16,882,000	-15,342,000
adjustments to reconcile net earnings to net cash provided by operating activities:
gain on extinguishment of debt																																																														-952,000
decrease in assets excluding acquisitions:
increase in liabilities excluding acquisitions:
de-consolidation of subsidiary																																																																						0
net proceeds from equity offering																																																														-17,000																		-4,000
transfer of assets held for sale to equipment on operating leases
supplemental disclosure of non-cash activity:
assumption of acquisition capital lease obligation
seller receivable netted against acquisition note																																																																						0	0
supplemental disclosure of subsidiary acquired
assets acquired
liabilities assumed																																																																						421,000				2,376,000	11,842,000
loss on sales of equipment
special charges																																																																		0				0	0	2,113,000	189,000	2,323,000	3,091,000									0	0
investment in unconsolidated subsidiary																																																															-200,000	0	-450,000
changes in revolving notes																																																															-3,671,000	5,437,000	-3,896,000	-53,067,000	-39,467,000	-39,779,000	51,062,000	6,636,000	-15,381,000	57,582,000	6,677,000	-19,099,000	-185,671,000	33,169,000	186,608,000	1,107,000	2,750,000	-4,027,000	-56,460,000	28,638,000	34,363,000	-15,415,000	-6,665,000	8,970,000	740,000	-704,000	460,000	2,568,000	-628,000
adjustment to tax reserves																																																																					7,415,000
minority interest																																																																		324,000	-758,000	-351,000	-509,000	-1,171,000	-276,000
discount accretion
investment in and net advances to unconsolidated subsidiaries																																																																									176,000
repayment of subordinated debt																																																																										0	-824,000				-1,108,000		-788,000				-254,000			-611,000	-1,599,000
stock options and restricted stock awards exercised																																																																		1,412,000	1,259,000	1,262,000	1,152,000			960,000	783,000	873,000
excess tax benefit of stock options exercised																																																																		-348,000				-85,000	12,000	-54,000	51,000	945,000	1,002,000	903,000	869,000
transfer of railcars held for sale to equipment on operating leases																																																																														1,000	0
acquisition note payable																																																																										0	0
cash acquired																																																																										0	78,000
decrease in assets
increase in liabilities
investment in and net advances to unconsolidated subsidiary																																																																							172,000				-984,000				301,000
supplemental disclosure of acquisitions
assets acquired, net of cash																																																																											-18,406,000					0	0
pension plan adjustment
seller receivable netted against acquisition note payable
earnings from discontinued operations
purchase of subsidiary’s shares subject to mandatory redemption																																																																																							-968,000
stock options exercised and restricted stock awards																																																																												771,000	877,000			-382,000
assumption of rail car america capital lease obligation																																																																										110,000	0
participation																																																																								121,000	-3,738,000	1,380,000	239,000	-9,113,000	396,000		385,000		395,000	-16,461,000	406,000	376,000	380,000
repayments of subordinated debt																																																																													-821,000						-1,592,000				-1,998,000				-655,000
adjustments to reconcile net earnings to net cash from (used in) operating activities:
tax benefit of stock options exercised
acquisition of joint venture interest																																																																																	0
repurchase and retirement of stock
investment previously recorded for unconsolidated joint venture
accounts and notes receivable																																																																											33,541,000	-20,959,000	-8,029,000		7,940,000		14,682,000	-23,224,000	-25,993,000	-10,755,000	-816,000
intangible and other
purchase of subsidiary shares subject to mandatory redemption																																																																															0						-309,000
cash paid for acquisitions, net of cash acquired
intangibles and other
proceeds(expense) from notes payable
cash paid for acquisitions
investment in and advances to unconsolidated joint venture																																																																													137,000						-57,000
proceeds (expenses) from notes payable																																																																													-69,000
proceeds from minority interest																																																																													1,200,000
investment in and advances to unconsolidated subsidiaries																																																																																141,000
proceeds from notes payable
re-purchase and retirement of stock																																																																																0
cash and cash equivalents:
non cash activity:
supplemental disclosure of subsidiary acquired:
tax benefit of stock options exercised and dividends on restricted stock awards
railcars held for sale																																																																															22,333,000
proceeds from issuance of notes payable net of issuance cost
net proceeds from sale of common stock
purchase and retirement of common stock
proceeds from exercise of stock options																																																																															1,388,000			1,966,000	174,000
investment previously booked for unconsolidated joint venture
tax benefit of stock options exercised and restricted stock award dividends
acquisition of joint venture
purchase subsidiary’s shares subject to mandatory redemption
transfer of inventories to equipment on operating leases
investment in and advances to unconsolidated subsidiary
transfer of inventory to equipment on operating leases
purchase of property and equipment																																																																																					-15,085,000				-2,460,000
investment in and advances to unconsolidated joint ventures
exercise of stock options																																																																																					619,000	2,731,000	534,000
investment in unconsolidated joint venture																																																																																						0	-1,005,000
purchases of property and equipment																																																																																							-9,500,000				-3,535,000
investment in joint venture
investment in discontinued operations
purchase of common stock
non-cash activity:
transfer of equipment in inventory to operating leases
proceeds from borrowings
repayments of borrowings
purchase of minority interest

The Greenbrier Companies, Inc(NYSE:GBX)

The Greenbrier Companies, Inc
(NYSE:GBX)