Property, Plant, and Equipment (Tables)

3 Months Ended

Mar. 31, 2026

Property, Plant, and Equipment [Abstract]

Property, Plant, and Equipment [Table Text Block]

The following table summarizes the components of property, plant, and equipment:

	March 31, 2026		December 31, 2025
	(in millions)
Railcars in our lease fleet:
Wholly-owned subsidiaries (1):
Equipment on lease	$	8,737.8	$	8,668.5
Less: accumulated depreciation	(2,203.1)		(2,156.1)
	6,534.7		6,512.4
Partially-owned subsidiary (2):
Equipment on lease	622.3		620.5
Less: accumulated depreciation	(252.1)		(248.3)
	370.2		372.2
Deferred profit on railcar products sold (3)	(927.5)		(926.6)
Less: accumulated amortization	304.3		298.0
	(623.2)		(628.6)
Total railcars in our lease fleet	6,281.7		6,256.0
Operating and administrative assets:
Land	16.1		16.1
Buildings and improvements	410.8		408.4
Machinery and other	452.2		452.9
Construction in progress	18.4		18.5
	897.5		895.9
Less: accumulated depreciation	(536.2)		(530.6)
Total operating and administrative assets	361.3		365.3
Total property, plant, and equipment, net	$	6,643.0	$	6,621.3

(1) The Leasing Group’s debt at March 31, 2026 consisted primarily of non-recourse debt. As of March 31, 2026, Trinity’s wholly-owned subsidiaries included in the Leasing Group held equipment with a net book value of $5,611.9 million, which is pledged solely as collateral for Leasing Group debt held by those subsidiaries. The net book value of unpledged equipment at March 31, 2026 was $922.8 million. See Note 7 for more information regarding the Leasing Group's debt.

(2) Debt owed by TRIP Holdings and its subsidiary is non-recourse to Trinity and TILC. Creditors of each of TRIP Holdings and its subsidiary have recourse only to the particular subsidiary's assets. As of March 31, 2026, Tribute Rail held equipment with a net book value of $370.2 million, which was pledged solely as collateral for the Tribute Rail debt. See Note 5 for a description of TRIP Holdings and its subsidiary, including the April 2026 transaction in which TRIP Holdings and its subsidiary will no longer be included in our Consolidated Financial Statements.

(3) Includes deferred profit related to new railcar additions, sustainable railcar conversions, railcar modifications, and other betterments. The deferred profit is subsequently eliminated in consolidation.