The Greenbrier Companies, Inc. (GBX) 10-K 29 Oct 19 2019 FY Annual report Financial data

Cover Page

Cover Page - USD ($)	12 Months Ended
	Aug. 31, 2019	Oct. 22, 2019	Feb. 28, 2019
Cover [Abstract]
Document Type	10-K
Amendment Flag	false
Document Period End Date	Aug. 31, 2019
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	FY
Entity Registrant Name	GREENBRIER COMPANIES INC
Trading Symbol	GBX
Entity Central Index Key	0000923120
Current Fiscal Year End Date	--08-31
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Filer Category	Large Accelerated Filer
Entity Interactive Data Current	Yes
Entity Shell Company	false
Entity Small Business	false
Entity Emerging Growth Company	false
Title of 12(b) Security	Common Stock
Security Exchange Name	NYSE
Entity Address, State or Province	OR
Entity Common Stock, Shares Outstanding		32,487,615
Entity Public Float			$ 1,311,532,035

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Aug. 31, 2019	Aug. 31, 2018
Assets
Cash and cash equivalents	$ 329,684	$ 530,655
Restricted cash	8,803	8,819
Accounts receivable, net	373,383	348,406
Inventories	664,693	432,314
Leased railcars for syndication	182,269	130,926
Equipment on operating leases, net	366,688	322,855
Property, plant and equipment, net	717,973	457,196
Investment in unconsolidated affiliates	91,818	61,414
Intangibles and other assets, net	125,379	94,668
Goodwill	129,947	78,211
Total assets	2,990,637	2,465,464
Liabilities and Equity
Revolving notes	27,115	27,725
Accounts payable and accrued liabilities	568,360	449,857
Deferred income taxes	13,946	31,740
Deferred revenue	85,070	105,954
Notes payable, net	822,885	436,205
Commitments and contingencies (Notes 22 & 23)
Contingently redeemable noncontrolling interest	31,564	29,768
Greenbrier
Preferred stock - without par value; 25,000 shares authorized; none outstanding
Common stock - without par value; 50,000 shares authorized; 32,488 and 32,191 outstanding at August 31, 2019 and 2018
Additional paid-in capital	453,943	442,569
Retained earnings	867,602	830,898
Accumulated other comprehensive loss	(44,815)	(23,366)
Total equity - Greenbrier	1,276,730	1,250,101
Noncontrolling interest	164,967	134,114
Total equity	1,441,697	1,384,215
Liabilities and Equity	$ 2,990,637	$ 2,465,464

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - $ / shares shares in Thousands	Aug. 31, 2019	Aug. 31, 2018
Preferred stock, without par value
Preferred stock, shares authorized	25,000	25,000
Preferred stock, outstanding
Common stock, without par value
Common stock, shares authorized	50,000	50,000
Common stock, shares outstanding	32,488	32,191

Consolidated Statements of Inco

Consolidated Statements of Income - USD ($) shares in Thousands, $ in Thousands		12 Months Ended
		Aug. 31, 2019		Aug. 31, 2018		Aug. 31, 2017
Revenue
Revenue		$ 3,033,591		$ 2,519,464		$ 2,169,164
Cost of revenue
Cost of revenue		2,667,105		2,110,409		1,747,865
Margin		366,486		409,055		421,299
Selling and administrative		213,308		200,439		170,607
Net gain on disposition of equipment		(40,963)		(44,369)		(9,740)
Goodwill impairment		10,025
Earnings from operations		184,116		252,985		260,432
Other costs
Interest and foreign exchange		30,912		29,368		24,192
Earnings before income tax and loss from unconsolidated affiliates		153,204		223,617		236,240
Income tax expense		(41,588)		(32,893)		(64,014)
Earnings before loss from unconsolidated affiliates		111,616		190,724		172,226
Loss from unconsolidated affiliates		(5,805)		(18,661)		(11,764)
Net earnings		105,811		172,063		160,462
Net earnings attributable to noncontrolling interest		(34,735)		(20,282)		(44,395)
Net earnings attributable to Greenbrier		$ 71,076		$ 151,781		$ 116,067
Basic earnings per common share		$ 2.18	[1]	$ 4.92	[2]	$ 3.97	[1]
Diluted earnings per common share	[3]	$ 2.14		$ 4.68		$ 3.65
Weighted average common shares:
Basic	[4]	32,615		30,857		29,225
Diluted		33,165		32,835		32,562
Dividends declared per common share		$ 1		$ 0.96		$ 0.86
Manufacturing
Revenue
Revenue		$ 2,431,499		$ 2,044,586		$ 1,725,188
Cost of revenue
Cost of revenue		2,137,625		1,727,407		1,373,967
Earnings from operations		217,583		240,901		295,334
Wheels, Repair & Parts
Revenue
Revenue		444,502		347,023		312,679
Cost of revenue
Cost of revenue		420,890		318,330		288,336
Earnings from operations		(2,941)		16,731		14,984
Leasing & Services
Revenue
Revenue		157,590		127,855		131,297
Cost of revenue
Cost of revenue		108,590		64,672		85,562
Earnings from operations		$ 64,763		$ 88,481		$ 31,904
[1]	Quarterly amounts do not total to the year to date amount as each period is calculated discretely. Diluted earnings per common share includes the dilutive effect of the 2024 Convertible Notes using the treasury stock method when dilutive, restricted stock units that are not considered participating securities, restricted stock units that are subject to performance criteria for which actual levels of performance above target have been achieved and the dilutive effect of shares underlying the 2018 Convertible Notes, during the periods in which they were outstanding, using the “if converted” method in which debt issuance and interest costs, net of tax, were added back to net earnings. The 2018 Convertible notes matured on April 1, 2018.
[2]	Quarterly amounts do not total to the year to date amount as each period is calculated discretely. Diluted EPS is calculated using the more dilutive of two approaches. The first approach includes the dilutive effect, using the treasury stock method, associated with shares underlying the 2.875% Convertible notes, restricted stock units that are not considered participating securities and performance based restricted stock units subject to performance criteria, for which actual levels of performance above target have been achieved. The second approach supplements the first by including the “if converted” effect of the 3.5% Convertible notes during the periods in which they were outstanding. Under the “if converted” method, debt issuance and interest costs, both net of tax, associated with the convertible notes are added back to net earnings and the share count is increased by the shares underlying the convertible notes. The 3.5% Convertible notes are included in the calculation of both approaches using the treasury stock method when the average stock price is greater than the applicable conversion price.
[3]	Diluted earnings per share was calculated as follows: Earnings before interest and debt issuance costs on the 3.5% convertible notes Weighted average diluted common shares outstanding
[4]	Restricted stock grants and restricted stock units that are considered participating securities, including some grants subject to certain performance criteria, are included in weighted average basic common shares outstanding when the Company is in a net earnings position. No restricted stock and restricted stock units were anti-dilutive for the years ended August 31, 2019, 2018 and 2017.

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands		12 Months Ended
		Aug. 31, 2019	Aug. 31, 2018	Aug. 31, 2017
Net earnings		$ 105,811	$ 172,063	$ 160,462
Other comprehensive income (loss)
Translation adjustment		(12,725)	(16,159)	15,488
Reclassification of derivative financial instruments recognized in net earnings	[1]	1,854	(415)	3,729
Unrealized gain (loss) on derivative financial instruments	[2]	(10,264)	(197)	1,944
Other (net of tax effect)		(351)	(335)	(665)
Other comprehensive income		(21,486)	(17,106)	20,496
Comprehensive income		84,325	154,957	180,958
Comprehensive income attributable to noncontrolling interest		(34,698)	(20,263)	(44,417)
Comprehensive income attributable to Greenbrier		$ 49,627	$ 134,694	$ 136,541
[1]	Net of tax effect of $0.5 million, $3 thousand and $1.0 million for the years ended August 31, 2019, 2018 and 2017
[2]	Net of tax effect of $2.9 million, $0.1 million and $0.8 million for the years ended August 31, 2019, 2018 and 2017

Consolidated Statements of Co_2

Consolidated Statements of Comprehensive Income (Parenthetical) - USD ($) $ in Millions	12 Months Ended
	Aug. 31, 2019	Aug. 31, 2018	Aug. 31, 2017
Reclassification of derivative financial instruments recognized in net earnings (loss), tax	$ 0.5	$ 0	$ 1
Unrealized gain (loss) on derivative financial instruments, tax	$ (2.9)	$ (0.1)	$ 0.8

Consolidated Statements of Equi

Consolidated Statements of Equity - USD ($) shares in Thousands, $ in Thousands	Total	Contingently Redeemable Noncontrolling Interest	Common Stock Shares	Additional Paid-in Capital	Additional Paid-in Capital2024 Convertible Senior Notes	Additional Paid-in Capital2024 Convertible Senior Notes Issuance Costs	Retained Earnings	Accumulated Other Comprehensive Income (Loss)	Total Equity - Greenbrier	Total Equity - Greenbrier2024 Convertible Senior Notes	Total Equity - Greenbrier2024 Convertible Senior Notes Issuance Costs	Noncontrolling Interest	Equity Excluding Contingently Redeemable Noncontrolling Interest	Equity Excluding Contingently Redeemable Noncontrolling Interest2024 Convertible Senior Notes	Equity Excluding Contingently Redeemable Noncontrolling Interest2024 Convertible Senior Notes Issuance Costs
Beginning balance at Aug. 31, 2016		$ 0
Net earnings		(2,140)
Ending Balance at Aug. 31, 2017		36,148
Beginning balance (in shares) at Aug. 31, 2016			28,205
Beginning balance at Aug. 31, 2016				$ 282,886			$ 618,178	$ (26,753)	$ 874,311			$ 142,516	$ 1,016,827
Net earnings	$ 160,462						116,067		116,067			46,535	162,602
Contingently redeemable noncontrolling interest		38,288
Other comprehensive income (loss), net	20,496							20,474	20,474			22	20,496
Noncontrolling interest adjustments												(677)	(677)
Joint venture partner distribution declared												(28,027)	(28,027)
Noncontrolling interest acquired												394	394
Restricted stock awards (net of cancellations) (in shares)			298
Restricted stock awards (net of cancellations)				5,520					5,520				5,520
Unamortized restricted stock				(10,734)					(10,734)				(10,734)
Restricted stock amortization				19,826					19,826				19,826
Tax deficiency from restricted stock awards				(2,339)					(2,339)				(2,339)
Cash dividends							(25,142)		(25,142)				(25,142)
2024 Convertible Senior Notes - equity component, net of tax					$ 20,818	$ (671)				$ 20,818	$ (671)			$ 20,818	$ (671)
Ending Balance (in shares) at Aug. 31, 2017			28,503
Ending Balance at Aug. 31, 2017				315,306			709,103	(6,279)	1,018,130			160,763	1,178,893
Net earnings		(6,380)
Ending Balance at Aug. 31, 2018		29,768
Net earnings	172,063						151,781		151,781			26,662	178,443
Other comprehensive income (loss), net	$ (17,106)							(17,087)	(17,087)			(19)	(17,106)
Noncontrolling interest adjustments												2,864	2,864
Joint venture partner distribution declared												(62,649)	(62,649)
Investment by joint venture partner												6,500	6,500
Noncontrolling interest acquired												(7)	(7)
Restricted stock awards (net of cancellations) (in shares)			336
Restricted stock awards (net of cancellations)				7,334					7,334				7,334
Unamortized restricted stock				(15,058)					(15,058)				(15,058)
Restricted stock amortization				16,100					16,100				16,100
Cash dividends							(29,986)		(29,986)				(29,986)
Conversion of 3.5% 2018 Convertible Senior Notes (in shares)			3,352
Conversion of 3.5% 2018 Convertible Senior Notes				118,887					118,887				118,887
Ending Balance (in shares) at Aug. 31, 2018	32,191		32,191
Ending Balance at Aug. 31, 2018	$ 1,384,215			442,569			830,898	(23,366)	1,250,101			134,114	1,384,215
Net earnings		(4,863)
Ending Balance at Aug. 31, 2019		31,564
Cumulative effect adjustment due to adoption of ASU 2014-09 (See Note 2) at Aug. 31, 2018							5,461		5,461				5,461
Net earnings	105,811						71,076		71,076			39,598	110,674
Other comprehensive income (loss), net	$ (21,486)							(21,449)	(21,449)			(37)	(21,486)
Noncontrolling interest adjustments		$ 6,659					(6,659)		(6,659)			7,402	743
Joint venture partner distribution declared												(18,025)	(18,025)
Noncontrolling interest acquired												1,915	1,915
Restricted stock awards (net of cancellations) (in shares)			297
Restricted stock awards (net of cancellations)				12,077					12,077				12,077
Unamortized restricted stock				(16,801)					(16,801)				(16,801)
Restricted stock amortization				12,321					12,321				12,321
Cash dividends							(33,174)		(33,174)				(33,174)
2024 Convertible Senior Notes - equity component, net of tax					$ 3,777					$ 3,777				$ 3,777
Ending Balance (in shares) at Aug. 31, 2019	32,488		32,488
Ending Balance at Aug. 31, 2019	$ 1,441,697			$ 453,943			$ 867,602	$ (44,815)	$ 1,276,730			$ 164,967	$ 1,441,697

Consolidated Statements of Eq_2

Consolidated Statements of Equity (Parenthetical) - $ / shares	12 Months Ended
	Aug. 31, 2019	Aug. 31, 2018	Aug. 31, 2017
Cash dividend per share	$ 1	$ 0.96	$ 0.86
2018 Convertible Senior Notes
Debt instrument, interest rate		3.50%
2024 Convertible Senior Notes
Debt instrument, interest rate	2.25%		2.875%
2024 Convertible Senior Notes Issuance Costs
Debt instrument, interest rate			2.875%
Equity Excluding Contingently Redeemable Noncontrolling Interest [Member]
Cash dividend per share	$ 1	$ 0.96	$ 0.86

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Aug. 31, 2019	Aug. 31, 2018	Aug. 31, 2017
Cash flows from operating activities:
Net earnings	$ 105,811	$ 172,063	$ 160,462
Adjustments to reconcile net earnings to net cash provided by (used in) operating activities:
Deferred income taxes	(20,225)	(40,496)	4,377
Depreciation and amortization	83,731	74,356	65,129
Net gain on disposition of equipment	(40,963)	(44,369)	(9,740)
Stock based compensation expense	11,153	29,314	26,427
Accretion of debt discount	4,458	4,171	2,340
Noncontrolling interest adjustments	7,402	2,864	(677)
Goodwill impairment	10,025
Other	145	1,688	(845)
Decrease (increase) in assets:
Accounts receivable, net	13,022	(83,551)	(25,272)
Inventories	(143,168)	(26,592)	(2,787)
Leased railcars for syndication	(96,110)	(54,023)	41,015
Other	6,843	34,115	17,558
Increase (decrease) in liabilities:
Accounts payable and accrued liabilities	55,910	54,032	(25,422)
Deferred revenue	(19,275)	(20,231)	33,039
Net cash provided by (used in) operating activities	(21,241)	103,341	285,604
Cash flows from investing activities:
Acquisitions, net of cash acquired	(361,878)	(34,874)	(27,127)
Proceeds from sales of assets	125,427	153,224	24,149
Capital expenditures	(198,233)	(176,848)	(86,065)
Investment in and advances to unconsolidated affiliates	(11,393)	(26,455)	(40,632)
Cash distribution from joint ventures	2,096	4,661	550
Net cash used in investing activities	(443,981)	(80,292)	(129,125)
Cash flows from financing activities
Net changes in revolving notes with maturities of 90 days or less	(105)	23,401	4,324
Proceeds from issuance of notes payable	525,000	13,771	276,093
Repayments of notes payable	(182,971)	(22,269)	(8,297)
Debt issuance costs	(8,630)		(9,082)
Dividends	(33,193)	(29,914)	(24,890)
Cash distribution to joint venture partner	(16,879)	(73,033)	(28,511)
Investment by joint venture partner		6,500
Tax payments for net share settlement of restricted stock	(6,321)	(7,723)	(5,215)
Net cash provided by (used in) financing activities	276,901	(89,267)	204,422
Effect of exchange rate changes	(12,666)	(14,666)	12,499
Increase (decrease) in cash and cash equivalents and restricted cash	(200,987)	(80,884)	373,400
Cash and cash equivalents and restricted cash
Beginning of period	539,474	620,358	246,958
End of period	338,487	539,474	620,358
Balance Sheet Reconciliation:
Cash and cash equivalents	329,684	530,655	611,466
Restricted cash	8,803	8,819	8,892
Total cash and cash equivalents and restricted cash as presented above	338,487	539,474	620,358
Cash paid during the period for:
Interest	18,330	18,878	13,962
Income taxes, net	62,084	66,423	45,280
Non-cash activity
Transfer from Leased railcars for syndication and Inventories to Equipment on operating leases, net	43,845	20,945	8,668
Capital expenditures accrued in Accounts payable and accrued liabilities	19,385	13,534	16,145
Change in Accounts payable and accrued liabilities associated with dividends declared	19	(72)	(252)
Change in Accounts payable and accrued liabilities associated with cash distributions to joint venture partner	(1,146)	14	$ 484
Conversion of 3.5% Convertible notes		$ 118,887
2.25% Convertible Notes, due 2024
Non-cash activity
Issuance of 2.25% Convertible notes in connection with the acquisition of the manufacturing business of ARI	$ 50,000

Consolidated Statements of Ca_2

Consolidated Statements of Cash Flows (Parenthetical)	Aug. 31, 2019
2.25% Convertible Senior Notes
Debt instrument, interest rate	2.25%
3.5% Convertible Senior Notes
Debt instrument, interest rate	3.50%

Nature of Operations

Nature of Operations	12 Months Ended
	Aug. 31, 2019
Nature of Operations	Note 1 - Nature of Operations The Company operates in three reportable segments: Manufacturing; Wheels, Repair & Parts; and Leasing & Services. The segments are operationally integrated. The Manufacturing segment, which currently operates from facilities in the U.S., Mexico, Poland, Romania and Turkey, produces double-stack intermodal railcars, tank cars, conventional railcars, automotive railcar products and marine vessels. The Wheels, Repair & Parts segment performs wheel and axle servicing; railcar repair, refurbishment and maintenance; as well as production of a variety of parts for the rail industry in North America. The Leasing & Services segment owns approximately 9,400 railcars and provides management services for approximately 380,000 railcars for railroads, shippers, carriers, institutional investors and other leasing and transportation companies in North America as of August 31, 2019. Through unconsolidated affiliates the Company produces rail and industrial components and has an ownership stake in a railcar manufacturer in Brazil and a lease financing warehouse.

Summary of Significant Accounti

Summary of Significant Accounting Policies	12 Months Ended
	Aug. 31, 2019
Summary of Significant Accounting Policies	Note 2 - Summary of Significant Accounting Policies Principles of consolidation - Unclassified balance sheet - non-current Foreign currency translation - year-end Cash and cash equivalents - Restricted cash - Accounts receivable - As of August 31, (In thousands) 2019 2018 2017 Allowance for doubtful accounts Balance at beginning of period $ 2,701 $ 1,768 $ 2,215 Additions, net of reversals 773 938 370 Usage (1,311 ) (54 ) (891 ) Currency translation effect 13 49 74 Balance at end of period $ 2,176 $ 2,701 $ 1,768 Inventories - first-in first-out Work-in-process Leased railcars for syndication - Equipment on operating leases, net - Investment in unconsolidated affiliates - Property, plant and equipment - Depreciable Life Buildings and improvements 10 – 30 years Machinery and equipment 3 – 20 years Other 3 – 7 years Goodwill - Intangibles – Goodwill and Other Intangible and other assets, net - Impairment of long-lived assets - Warranty accruals - Income taxes - Deferred revenue Noncontrolling interest and Contingently redeemable noncontrolling interest - Greenbrier-Astra Rail was formed in 2017 between the Company’s existing European operations headquartered in Swidnica, Poland and Astra Rail, based in Arad, Romania. Greenbrier-Astra Rail is controlled by the Company with an approximate 75% interest. The Company consolidates Greenbrier-Astra Rail for financial reporting purposes and includes the noncontrolling interest in the mezzanine section of the Consolidated Balance Sheet in Contingently redeemable noncontrolling interest (see Note 4 – Acquisitions). In August 2018, Greenbrier-Astra Rail entered into an agreement to take an approximately 68% ownership stake in Rayvag, a railcar manufacturing company based in Adana, Turkey. Rayvag is controlled by the Company. The Company consolidates Rayvag for financial reporting purposes. The noncontrolling interest related to the partner’s interest is included in Noncontrolling interest in the equity section of the Company’s Consolidated Balance Sheet. The Company has a joint venture with Summit Railroad Products, Inc. to provide axle services. Each party owns a 50% interest in the joint venture. The financial results of this operation are consolidated for financial reporting purposes as the Company has the power to direct the activities which most significantly impact the economic performance of the entity. The noncontrolling interest related to the partner’s 50% interest in the joint venture is included in Noncontrolling interest in the equity section of the Company’s Consolidated Balance Sheet. Net earnings attributable to noncontrolling interest on the Company’s Consolidated Statement of Income represents the Company’s partners’ share of results from operations. Accumulated other comprehensive loss - (In thousands) Unrealized Gain (Loss) on Derivative Financial Instruments Foreign Currency Translation Adjustment Other Accumulated Other Comprehensive Loss Balance, August 31, 2018 $ (431 ) $ (21,506 ) $ (1,429 ) $ (23,366 ) Other comprehensive loss before reclassifications (10,264 ) (12,688 ) (351 ) $ (23,303 ) Amounts reclassified from accumulated other comprehensive loss 1,854 – – $ 1,854 Balance, August 31, 2019 $ (8,841 ) $ (34,194 ) $ (1,780 ) $ (44,815 ) The amounts reclassified out of Accumulated other comprehensive loss into the Consolidated Statements of Income, with the financial statement caption, were as follows: Year Ended August 31, Financial Statement Caption (In thousands) 2019 2018 (Gain) loss on derivative financial instruments: Foreign exchange contracts $ 1,794 $ (716 ) Revenue and Cost of revenue Interest rate swap contracts 545 298 Interest and foreign exchange 2,339 (418 ) Total before tax (485 ) 3 Tax benefit (expense) $ 1,854 $ (415 ) Net of tax Revenue recognition - Manufacturing Railcars are manufactured in accordance with contracts with customers. The Company recognizes revenue upon its customers’ acceptance of the completed railcars at a specified delivery point. From time to time, the Company enters into multi-year supply agreements. Each railcar delivery is considered a distinct performance obligation, such that the amounts that are recognized as revenue following railcar delivery are generally not subject to change. The Company typically recognizes marine vessel manufacturing revenue over time using the cost input method, based on progress toward contract completion measured by actual costs incurred to date in relation to the estimate of total expected costs. This method best depicts the Company’s performance in completing the construction of the marine vessel for the customer and is consistent with the percentage of completion method used prior to the adoption of the new revenue standard. Wheels, Repair & Parts The Company operates a network of wheel, repair and parts shops in North America that provide complete wheelset reconditioning and railcar repair services. Wheels revenue is recognized when wheelsets are shipped to the customer or when consumed by customers in the case of consignment arrangements. Parts revenue is recognized upon shipment of the parts to the customers. Repair revenue is typically recognized over time using the cost input method, based on progress toward contract completion measured by actual costs incurred to date in relation to the estimate of total expected costs. This method best depicts the Company’s performance in repairing the railcars for the customer. Repair services are typically completed in less than 90 days. Leasing & Services The Company owns a fleet of new and used cars which are leased to third-party customers. Lease revenue is recognized over the lease-term in the period in which it is earned in accordance with ASC 840 Leases Syndication transactions represent new and used railcars which have been placed on lease to a customer and which the Company intends to sell to an investor with the lease attached. At the time of such sale, revenue and cost of revenue associated with railcars that the Company has manufactured are recognized in the Manufacturing segment; while revenue and cost of revenue associated with railcars which were obtained from a third-party with the intent to resell them and subsequently sold, are recognized in Leasing & Services. In addition the Company will often perform management or maintenance services at market rates for these railcars. The Company evaluates the terms of any remarketing agreements and any contractual provisions that represent retained risk and the level of retained risk based on those provisions. The Company applies a 10% threshold to determine whether the level of retained risk exceeds 10% of the individual fair value of the rail cars delivered. If retained risk exceeded 10%, the transaction would not be recognized as a sale until such time as the retained risk declined to 10% or less. The Company enters into multi-year contracts to provide management and maintenance services to customers for which revenue is generally recognized on a straight-line basis over the contract term as a stand-ready obligation. Costs to fulfill these contracts are recognized as incurred. Interest and foreign exchange - (In thousands) Years ended August 31, 2019 2018 2017 Interest and foreign exchange: Interest and other expense $ 32,260 $ 30,946 $ 23,519 Foreign exchange (gain) loss (1,348 ) (1,578 ) 673 $ 30,912 $ 29,368 $ 24,192 Forward exchange contracts - non-performance. Interest rate instruments - Research and development - Net earnings per share - Diluted EPS is calculated using the more dilutive of two approaches. The first approach includes the dilutive effect, using the treasury stock method, associated with shares underlying the 2.875% Convertible notes, 2.25% Convertible notes, restricted stock units that are not considered participating securities and performance-based restricted stock units subject to performance criteria, for which actual levels of performance above target have been achieved. The second approach supplements the first by including the “if converted” effect of the 3.5% Convertible notes during the periods in which they were outstanding. Under the “if converted” method, debt issuance and interest costs, both net of tax, associated with the convertible notes are added back to net earnings and the share count is increased by the shares underlying the convertible notes. The 3.5% Convertible notes are included in the calculation of both approaches using the treasury stock method when the average stock price is greater than the applicable conversion price. Stock-based compensation - Restricted stock units and restricted stock awards are accounted for as equity based awards (see Note 16 – Equity). Phantom stock units are accounted for as liability based awards. Phantom Stock Units The Company began granting phantom stock units during the year ended August 31, 2016. Every phantom stock unit entitles the participant to receive a cash payment equal to the value of a single share of the Company’s common stock upon vesting. The holders of unvested phantom stock units are entitled to participate in dividend equivalents. There were no phantom stock units awarded during the years ended August 31, 2019 and 2018. During the year ended August 31, 2017, the Company awarded 151,634 phantom stock units which include performance-based grants. As of August 31, 2019, there were a total of 72,144 phantom stock units associated with unvested performance-based grants. The actual number of phantom stock units that will vest associated with performance-based phantom stock units will vary depending on the Company’s performance. An additional 72,144 phantom stock units, associated with awards granted in 2017, may be granted if performance-based phantom stock units vest at stretch levels of performance. The grant date fair value of phantom stock awards was $6.7 million for the year ended August 31, 2017. Our phantom stock unit grants are considered liability based awards and therefore are re-measured re-measurement Management estimates Reclassifications Initial Adoption of Accounting Policies Revenue Recognition In the first quarter of 2019, the Company adopted Accounting Standard Update 2014-09, Revenue from Contracts with Customers 2014-09). Restricted Cash In the first quarter of 2019, the Company adopted Accounting Standard Update 2016-18, Restricted Cash 2016-18). beginning-of-period end-of-period 2016-18 Prospective Accounting Changes Lease Accounting In February 2016, the FASB issued Accounting Standards Update 2016-02, Leases 2016-02). 2016-02 right-of-use 2016-02 2018-11, Leases The Company evaluated the transition and presentation approaches available as well as the impact of the new guidance on its consolidated financial statements and related disclosures, including the increase in the assets and liabilities on its balance sheet, and the impact on its current lease portfolio from both a lessor and lessee perspective. To facilitate this, the Company utilized a comprehensive approach to review its lease portfolio, as well as assessed system requirements and control implications. The new guidance provides a number of optional practical expedients in transition. The Company elected the “package of practical expedients,” which allows it not to reassess under the new guidance their prior conclusions about lease identification and initial direct costs. The Company did not elect the use-of-hindsight non-lease right-of-use The most significant effects of adoption relate to the recognition of a right-of-use right-of-use Derivatives and Hedging In August 2017, the FASB issued Accounting Standards Update 2017-12, Derivatives and Hedging: Targeted Improvements to Accounting for Hedging Activities 2017-12). non-financial Measurement of Credit Losses on Financial Instruments In June 2016, the FASB issued Accounting Standard Update 2016-13, Financial Instruments – Credit Losses 2016-13). off-balance

Revenue Recognition

Revenue Recognition	12 Months Ended
	Aug. 31, 2019
Revenue Recognition	Note 3 - Revenue Recognition Contract balances Contract assets primarily consist of unbilled receivables related to marine vessel construction and repair services, for which the respective contracts do not yet permit billing at the reporting date. Contract liabilities primarily consist of customer prepayments for manufacturing, maintenance, and other management-type services, for which the Company has not yet satisfied the related performance obligations. The opening and closing balances of the Company’s contract balances are as follows: (in thousands) Balance sheet classification September 1, 2018 August 31, 2019 $ change Contract assets Inventories $ 7,228 $ 10,196 $ 2,968 Contract liabilities 1 Deferred revenue $ 41,250 $ 39,203 $ (2,047 ) 1 Contract liabilities balance includes deferred revenue within the scope of the new revenue standard. For the year ended August 31, 2019, the Company recognized $11.3 million of revenue that was included in Contract liabilities as of September 1, 2018. Performance obligations As of August 31, 2019, the Company has entered into contracts with customers for which revenue has not yet been recognized. The following table outlines estimated revenue related to performance obligations wholly or partially unsatisfied, that the Company anticipates will be recognized in future periods. (in millions) August 31, 2019 Revenue type : Manufacturing – Railcar sales $ 2,897.9 Manufacturing – Marine $ 100.2 Services $ 153.0 Other $ 42.1 Manufacturing – Railcars intended for syndication 1 $ 317.2 1 Not a performance obligation as defined in the new revenue standard and therefore not subject to audit Based on current production and delivery schedules and existing contracts, approximately $1.9 billion of the Railcar Sales amount is expected to be recognized in 2020 while the remaining amount is expected in future periods. The table above excludes estimated revenue to be recognized at the Company’s Brazilian manufacturing operation, as they are accounted for under the equity method. Revenue amounts reflected in Railcars intended for syndication may be syndicated to third parties or held in the Company’s fleet depending on a variety of factors. Marine revenue is expected to be recognized through 2021 as vessel construction is completed. Services includes management and maintenance services of which approximately 51% are expected to be performed through 2024 and the remaining amount ratably through 2037.

Acquisitions

Acquisitions	12 Months Ended
	Aug. 31, 2019
Acquisitions	Note 4 - Acquisitions Manufacturing business of American Railcar Industries, Inc. (ARI) On July 26, 2019, the Company completed its acquisition of the manufacturing business of ARI for a purchase price of approximately $418.3 million. In connection with the acquisition, the Company acquired two railcar manufacturing facilities in Arkansas, as well as other facilities which produce a range of railcar components and parts and create enhanced vertical integration for our manufacturing operations. The purchase price includes approximately $8.0 million for capital expenditures on railcar lining operations and other facility improvements. Included in the acquisition were equity interests in two railcar component manufacturing businesses which Greenbrier will account for under the equity method of accounting and recognize at their respective fair value as investments in unconsolidated affiliates. The purchase price was funded by, and consisted of, a combination of cash on hand, the proceeds of a $300 million secured term loan, the issuance to the seller of a $50 million senior convertible note and a payable to the seller for a working capital true-up For the year ended August 31, 2019, the operations contributed by ARI’s manufacturing business generated revenues of $43.0 million and a loss from operations of $1.6 million, which are reported in the Company’s consolidated financial statements as part of the Manufacturing segment. The preliminary purchase price of the net assets acquired from ARI was allocated as follows: (in thousands) Accounts receivable, net $ 28,257 Inventories 98,227 Property, plant and equipment, net 225,045 Investments in unconsolidated affiliates 40,314 Intangibles and other assets, net 36,785 Goodwill 56,816 Total assets acquired 485,444 Total liabilities assumed 67,174 Net assets acquired $ 418,270 The above purchase price allocation, including the residual amount allocated to goodwill, are based on preliminary information and is subject to change as additional information is obtained related to the amounts allocated to the assets acquired and liabilities assumed. As a result of the proximity of the acquisition date to August 31, 2019 and as we did not acquire 100% of ARI, the amounts of all assets acquired and liabilities assumed are preliminary. During the measurement period, which may extend up to 12 months after the date of acquisition, the Company will adjust these assets and liabilities if new information is obtained about the facts and circumstances that existed as of the acquisition date and revised amounts will be recorded as of that date. The effect of measurement period adjustments to the estimated amounts will be reflected on a prospective basis. The identified intangible assets assumed in the acquisition were recognized as follows: (In thousands) Fair value Weighted average Trademarks and patents $ 19,500 9 Customer and supplier relationships 16,071 7 Identified intangible assets subject to amortization 35,571 Other identified intangible assets not subject to amortization 860 Total identified intangible assets $ 36,431 In accordance with ASC 805, the following unaudited pro forma financial information summarizes the combined operating results of Greenbrier and ARI’s manufacturing business as if the acquisition of ARI’s manufacturing business occurred on September 1, 2017. In addition, this pro forma financial information includes acquisition-related adjustments including depreciation expense to reflect the increased fair value of property, plant and equipment, amortization expense related to identified intangible assets, interest expense on the $50 million convertible senior note and $300 million senior term debt issued, and the related income tax effects. This pro forma financial information is presented for informational purposes only and does not include adjustments relating to the Company’s expected cost-savings and other synergies, and as such, is not indicative of the results of operations that would have been achieved if the acquisition had occurred on September 1, 2017 or of results that may occur in the future. As of August 31, (In thousands, except per share amounts) 2019 2018 Revenue $ 3,462,255 $ 2,893,400 Net earnings attributable to Greenbrier $ 57,284 $ 137,399 Basic earnings per common share $ 1.76 $ 4.45 Diluted earnings per common share $ 1.73 $ 4.25 GBW On August 20, 2018, the Company entered into a dissolution agreement with Watco Companies, LLC, its previous joint venture partner, to discontinue their GBW Railcar Services railcar repair joint venture. Pursuant to the dissolution agreement, previously operated Greenbrier repair shops and associated employees returned to the Company. Additionally, the dissolution agreement provides that certain agreements entered into in connection with the original creation of GBW in 2014 were terminated as of the transaction date, including the leases of real and personal property, service agreements, and certain employment-related agreements. As the assets received and liabilities assumed from GBW meet the definition of a business, the Company has accounted for this transaction as a business combination. The total net assets acquired were approximately $57.6 million. Additionally, the Company removed the book value of its remaining equity method investment in, and note receivable due from, the joint venture. For the year ended August 31, 2019, the Repair operations generated consolidated revenues of $87.5 million and a loss from operations of $24.9 million, which are reported in the Company’s consolidated financial statements as part of the Wheels, Repair & Parts segment. This loss from operations includes $10.0 million of non-cash Greenbrier Astra Rail On June 1, 2017, Greenbrier and Astra Holding GmbH (Astra) contributed its European operations to a newly formed company, Greenbrier-Astra Rail (GAR), a Europe-based freight railcar manufacturing, engineering and repair business. As consideration for an approximate 75% controlling interest, Greenbrier agreed to pay Astra €30 million at closing, an additional €30 million which was paid on June 1, 2018 and issue an approximate 25% noncontrolling interest in the new company. The total net assets acquired of $115.8 million includes $38.3 million representing the fair value of the noncontrolling interest at the acquisition date. Astra also received a put option to sell its entire noncontrolling interest to Greenbrier at an exercise price equal to the higher of fair value or a defined EBITDA multiple as measured on the exercise date. The option is exercisable 30 days prior to and up until June 1, 2022. Due to Astra’s redemption right under the put option, the noncontrolling interest has been classified as a Contingently redeemable noncontrolling interest in the mezzanine section of the Consolidated Balance Sheets. The carrying value of the noncontrolling interest cannot be less than the maximum redemption amount, which is the amount Greenbrier will settle the put option for if exercised. Adjustments to reconcile the carrying value to the maximum redemption amount are recorded to retained earnings. For the year ended August 31, 2019 and 2018, the European operations contributed by Astra generated revenues of $150.3 million and $136.8 million, respectively, and a loss from operations of $19.4 million and $11.5 million, respectively, which are reported in the Company’s consolidated financial statements as part of the Manufacturing segment. The purchase price of the net assets acquired from Astra was allocated as follows: (in thousands) Cash and cash equivalents $ 6,562 Accounts receivable, net 10,984 Inventories 30,454 Property, plant and equipment, net 75,296 Intangibles and other assets, net 17,300 Goodwill 25,746 Total assets acquired 166,342 Accounts payable and accrued liabilities 17,879 Deferred income taxes 7,292 Deferred revenue 964 Notes payable, net 24,382 Total liabilities assumed 50,517 Net assets acquired $ 115,825 On August 2, 2018, GAR entered in to an agreement with Rayvag Vagon Sanavi ve Ticaret A.S. (Rayvag) to take an approximately 68% ownership stake in Rayvag. Rayvag is a railcar manufacturer and provider of railcar repair and parts services based in Adana, Turkey. The amount paid to acquire the 68% ownership stake in Rayvag was not material to the Company’s consolidated financial statements.

Inventories

Inventories	12 Months Ended
	Aug. 31, 2019
Inventories	Note 5 - Inventories As of August 31, (In thousands) 2019 2018 Manufacturing supplies and raw materials $ 387,015 $ 274,938 Work-in-process 156,614 105,021 Finished goods 130,576 57,969 Excess and obsolete adjustment (9,512 ) (5,614 ) $ 664,693 $ 432,314 As of August 31, (In thousands) 2019 2018 2017 Excess and obsolete adjustment Balance at beginning of period $ 5,614 $ 4,136 $ 3,257 Charge to cost of revenue 9,734 4,023 2,781 Disposition of inventory (5,651 ) (2,455 ) (2,003 ) Currency translation effect (185 ) (90 ) 101 Balance at end of period $ 9,512 $ 5,614 $ 4,136

Equipment on Operating Leases,

Equipment on Operating Leases, net	12 Months Ended
	Aug. 31, 2019
Equipment on Operating Leases, net	Note 6 - Equipment on Operating Leases, net Equipment on operating leases is reported net of accumulated depreciation of $44.2 million and $64.9 million as of August 31, 2019 and 2018, respectively. Depreciation expense was $13.3 million, $11.2 million and $12.1 million as of August 31, 2019, 2018 and 2017, respectively. In addition, certain railcar equipment leased-in by the Company​​​​​​​ on operating leases (see Note 22 – Lease Commitments) is subleased to customers under non-cancelable operating leases. Aggregate minimum future amounts receivable under all non-cancelable operating leases and subleases are as follows: (In thousands) Year ending August 31, 2020 $ 23,490 2021 20,076 2022 17,949 2023 13,717 2024 9,450 Thereafter 5,583 $ 90,265 Certain equipment is also operated under daily, monthly or car hire utilization arrangements. Associated revenue amounted to $14.0 million, $12.8 million and $13.0 million for the years ended August 31, 2019, 2018 and 2017, respectively.

Property, Plant and Equipment,

Property, Plant and Equipment, net	12 Months Ended
	Aug. 31, 2019
Property, Plant and Equipment, net	Note 7 - Property, Plant and Equipment, net As of August 31, (In thousands) 2019 2018 Land and improvements $ 87,872 $ 84,432 Machinery and equipment 539,952 414,865 Buildings and improvements 338,639 202,973 Construction in progress 66,744 48,406 Other 90,822 68,452 1,124,029 819,128 Accumulated depreciation (406,056 ) (361,932 ) $ 717,973 $ 457,196 Depreciation expense was $62.3 million, $54.5 million and $45.5 million for the years ended August 31, 2019, 2018 and 2017, respectively.

Investments In Unconsolidated A

Investments In Unconsolidated Affiliates	12 Months Ended
	Aug. 31, 2019
Investments In Unconsolidated Affiliates	Note 8 - Investments In Unconsolidated Affiliates GBW The Company had a 50% ownership interest in GBW which performed railcar repair, refurbishment and maintenance until August 20, 2018, on which date the Company entered into a dissolution agreement (See Note 4 – Acquisitions). The Company accounted for its interest in GBW under the equity method of accounting. The assets and liabilities shown below as of August 31, 2019 primarily represent remaining cash and a payable to its owners, while the summarized income statement for the year ended August 31, 2019 is for GBW’s full year of activity. Summarized financial data for GBW is as follows: As of August 31, (In thousands) 2019 2018 Current assets $ 1,248 $ 8,531 Total assets $ 1,248 $ 8,531 Current liabilities $ 1,248 $ 23,283 Total liabilities $ 1,248 $ 23,283 Years ended August 31, (In thousands) 2019 2018 2017 Revenue $ 879 $ 238,033 $ 253,436 Margin $ (1,126 ) $ (6,047 ) $ (4,058 ) Net loss (1) $ (4,104 ) $ (51,679 ) $ (36,947 ) (1) In 2018 and 2017, GBW recorded a pre-tax Greenbrier-Maxion The Company has a 60% ownership interest in Greenbrier-Maxion, a railcar manufacturer in Brazil. Greenbrier-Maxion also assembles bogies and offers a range of aftermarket services including railcar overhaul and refurbishment. The Company does not consolidate Greenbrier-Maxion for financial reporting purposes and accounts for its interest under the equity method of accounting as the entity’s governance provisions require that all significant decisions of Greenbrier-Maxion are subject to shared consent of its shareholders. Summarized financial data for Greenbrier-Maxion is as follows: As of August 31, (In thousands) 2019 2018 Current assets $ 39,768 $ 41,619 Total assets $ 85,167 $ 61,034 Current liabilities $ 62,541 $ 38,027 Total liabilities $ 74,261 $ 41,539 Years ended August 31, (In thousands) 2019 2018 2017 Revenue $ 99,547 $ 187,664 $ 228,510 Margin $ 2,017 $ 10,086 $ 24,372 Net income (loss) $ (9,144 ) $ (3,006 ) $ 1,378 Amsted-Maxion The Company has a 24.5% ownership interest in Amsted-Maxion, a manufacturer of castings and components for railcars and other heavy equipment. The Company retains an option to increase its ownership to 29.5% subject to certain conditions. Amsted-Maxion has a 40% ownership position in Greenbrier-Maxion. The Company accounts for its interest in Amsted-Maxion under the equity method of accounting. Summarized financial data for Amsted-Maxion is as follows: As of August 31, (In thousands) 2019 2018 Current assets $ 25,220 $ 21,463 Total assets $ 107,451 $ 111,589 Current liabilities $ 54,445 $ 27,981 Total liabilities $ 88,016 $ 83,407 Years ended August 31, (In thousands) 2019 2018 2017 Revenue $ 86,421 $ 96,490 $ 90,114 Margin $ 4,949 $ 8,001 $ 5,983 Net loss $ (9,268 ) $ (9,590 ) $ (20,114 ) Other Unconsolidated Affiliates The Company has nine other unconsolidated affiliates which are accounted for under the equity method of accounting. For the year ended August 31, 2019, the Company recognized net earnings of $3.7 million from these other unconsolidated affiliates. Summarized financial information, shown as 100% of these other unconsolidated affiliates in aggregate are as follows: As of August 31, (In thousands) 2019 2018 Current assets $ 45,287 $ 32,168 Total assets $ 255,549 $ 239,535 Current liabilities $ 9,836 $ 3,647 Total liabilities $ 49,747 $ 52,852 Years ended August 31, (In thousands) 2019 2018 2017 Revenue $ 50,423 $ 25,549 $ 39,161 Margin $ 19,877 $ 11,360 $ 8,015 Net income $ 12,751 $ 6,988 $ 5,202

Goodwill

Goodwill	12 Months Ended
	Aug. 31, 2019
Goodwill	Note 9 - Goodwill Changes in the carrying value of goodwill are as follows: (In thousands) Manufacturing Wheels, Repair & Parts Leasing & Services Total Balance August 31, 2018 $ 27,083 $ 51,128 $ – $ 78,211 Additions (1) 61,408 2,162 – 63,570 Translation (1,809 ) – – (1,809 ) Goodwill Impairment – (10,025 ) – (10,025 ) Balance August 31, 2019 $ 86,682 $ 43,265 $ – $ 129,947 (1) Additions to goodwill relate to purchase price adjustments for the GBW repair shop transaction (Wheels, Repair & Parts) and the Rayvag acquisition (Manufacturing) and the acquisition of ARI (Manufacturing). See Note 4 – Acquisitions. (In thousands) Goodwill Gross goodwill balance before accumulated goodwill impairment losses and other reductions $ 292,497 Accumulated goodwill impairment losses (138,234 ) Accumulated other reductions (24,316 ) Balance August 31, 2019 $ 129,947 The Company performed its annual goodwill impairment test during the third quarter. The Company utilized both the qualitative assessment and the quantitative goodwill impairment test as part of its annual goodwill impairment test. For reporting units requiring a quantitative goodwill impairment test, the Company determined the fair value of the reporting units while considering both the income and market approaches. Under the income approach, the Company calculates the fair value of a reporting unit based on the present value of estimated future cash flows. Under the market approach, the Company estimates the fair value based on observed market multiples for comparable businesses, when appropriate. Based on the results of the Company’s annual impairment test, the fair values of its reporting units exceeded their carrying values except for the repair reporting unit. The Company initially recorded the repair goodwill following the GBW repair shop transaction in 2018. As a result of near-term operational challenges and updated estimated future cash flows, a non-cash

Intangibles and Other Assets, n

Intangibles and Other Assets, net	12 Months Ended
	Aug. 31, 2019
Intangibles and Other Assets, net	Note 10 - Intangibles and Other Assets, net Intangible assets that are determined to have finite lives are amortized over their useful lives. Intangible assets with indefinite useful lives are not amortized and are periodically evaluated for impairment. The following table summarizes the Company’s identifiable intangible and other assets balance: As of August 31, (In thousands) 2019 2018 Intangible assets subject to amortization: Customer and supplier relationships $ 89,722 $ 73,601 Accumulated amortization (48,850 ) (44,656 ) Other intangibles 34,031 15,219 Accumulated amortization (6,908 ) (5,319 ) 67,995 38,845 Intangible assets not subject to amortization 5,450 5,115 Prepaid and other assets 15,749 18,935 Nonqualified savings plan investments 27,967 26,299 Debt issuance costs, net 4,568 1,824 Assets held for sale 3,650 3,650 $ 125,379 $ 94,668 Amortization expense for the years ended August 31, 2019, 2018 and 2017 was $6.3 million, $5.3 million and $4.8 million, respectively. Amortization expense for the years ending August 31, 2020, 2021, 2022, 2023 and 2024 is expected to be $10.9 million, $10.9 million, $7.6 million, $6.3 million and $6.3 million, respectively.

Revolving Notes

Revolving Notes	12 Months Ended
	Aug. 31, 2019
Revolving Notes	Note 11 - Revolving Notes Senior secured credit facilities, consisting of three components, aggregated to $705.4 million as of August 31, 2019. As of August 31, 2019, a $600.0 million revolving line of credit, maturing June 2024, secured by substantially all the Company’s assets in the U.S. not otherwise pledged as security for term loans, was available to provide working capital and interim financing of equipment, principally for the U.S. and Mexican operations. Advances under this facility bear interest at LIBOR plus 1.50% or Prime plus 0.50% depending on the type of borrowing. Available borrowings under the credit facility are generally based on defined levels of inventory, receivables, property, plant and equipment and leased equipment, as well as total debt to consolidated capitalization and fixed charges coverage ratios. As of August 31, 2019, lines of credit totaling $55.4 million secured by certain of the Company’s European assets, with variable rates that range from Warsaw Interbank Offered Rate (WIBOR) plus 1.1% to WIBOR plus 1.5% and Euro Interbank Offered Rate (EURIBOR) plus 1.1% to EURIBOR plus 1.5%, were available for working capital needs of the European manufacturing operations. European credit facilities are continually being renewed. Currently, these European credit facilities have maturities that range from December 2019 through November 2021. As of August 31, 2019, the Company’s Mexican railcar manufacturing joint venture has two lines of credit totaling $50.0 million. The first line of credit provides up to $30.0 million. Advances under this facility bear interest at LIBOR plus 2.0%. The Mexican railcar manufacturing joint venture will be able to draw against this facility through March 2024. The second line of credit provides up to $20.0 million, of which the Company and its joint venture partner have each guaranteed 50%. Advances under this facility bear interest at LIBOR plus 2.0%. The Mexican railcar manufacturing joint venture will be able to draw amounts available under this facility through June 2021. As of August 31, 2019, outstanding commitments under the senior secured credit facilities consisted of $24.4 million in letters of credit under the North American credit facility and $27.1 million outstanding under the European credit facilities. As of August 31, 2018, outstanding commitments under the senior secured credit facilities consisted of $72.2 million in letters of credit under the North American credit facility and $27.7 million outstanding under the European credit facilities.

Accounts Payable and Accrued Li

Accounts Payable and Accrued Liabilities	12 Months Ended
	Aug. 31, 2019
Accounts Payable and Accrued Liabilities	Note 12 - Accounts Payable and Accrued Liabilities As of August 31, (In thousands) 2019 2018 Trade payables $ 302,009 $ 226,405 Other accrued liabilities 108,939 86,175 Accrued payroll and related liabilities 106,669 105,111 Accrued warranty 46,678 27,395 Income taxes payable 4,065 4,771 $ 568,360 $ 449,857

Warranty Accrual

Warranty Accrual	12 Months Ended
	Aug. 31, 2019
Warranty Accrual	Note 13 - Warranty Accrual As of August 31, (In thousands) 2019 2018 2017 Balance at beginning of period $ 27,395 $ 20,737 $ 12,159 Charged to cost of revenue 5,014 12,323 6,872 Acquisition 23,895 – 3,526 Payments (8,594 ) (5,217 ) (2,649 ) Currency translation effect (1,032 ) (448 ) 829 Balance at end of period $ 46,678 $ 27,395 $ 20,737

Notes Payable, net

Notes Payable, net	12 Months Ended
	Aug. 31, 2019
Notes Payable, net	Note 14 - Notes Payable, net As of August 31, (In thousands) 2019 2018 Term loans $ 521,544 $ 179,923 2.875% Convertible senior notes, due 2024 275,000 275,000 2.25% Convertible senior notes, due 2024 50,000 – Other notes payable 14,001 14,798 $ 860,545 $ 469,721 Debt discount and issuance costs (37,660 ) (33,516 ) $ 822,885 $ 436,205 Term loans are primarily composed of: • $300 million of senior term debt, with a maturity date of June 2024 unless the Convertible senior notes due July 2024 are outstanding as of November 1, 2023, in which case the debt matures on that date. The debt bears a floating interest rate of LIBOR plus 1.5% with principal of $3.75 million paid quarterly in arrears and a balloon payment of $232.5 million due at maturity. An interest rate swap agreement was entered into on 50% of the initial balance to swap the floating interest rate of LIBOR plus 1.5% to a fixed rate of 3.19%. The principal balance as of August 31, 2019 was $300.0 million. • $225 million of senior term debt, with a maturity date of September 2023, which is secured by a pool of leased railcars. The debt bears a floating interest rate of LIBOR plus 1.5% with principal of $1.97 million paid quarterly in arrears and a balloon payment of $185.6 million due at maturity. An interest rate swap agreement was entered into on 50% of the initial balance to swap the floating interest rate of LIBOR plus 1.5% to a fixed rate of 4.49%. The principal balance as of August 31, 2019 was $217.1 million. • Other term loans with an aggregate balance of $4.4 million as of August 31, 2019 and maturity dates ranging from April 2020 to September 2022. Convertible senior notes, due 2024, bear interest at a fixed rate of 2.875%, paid semi-annually in arrears on February 1 st st 470-20, paid-in y 6.3 m illion shares for issuance upon conversion of these notes. Convertible senior notes, due 2024, bear interest at a fixed rate of 2.25%, paid semi-annually in arrears on February 1 st st 470-20, paid-in Other notes payable includes $14.0 million of unsecured debt with maturity dates of November 2019 and September 2020. The notes payable, along with the revolving and operating lines of credit, contain certain covenants with respect to the Company and various subsidiaries, the most restrictive of which, among other things, limit the ability to: incur additional indebtedness or guarantees; pay dividends or repurchase stock; enter into capital leases; create liens; sell assets; engage in transactions with affiliates, including joint ventures and non U.S. subsidiaries, including but not limited to loans, advances, equity investments and guarantees; enter into mergers, consolidations or sales of substantially all the Company’s assets; and enter into new lines of business. The covenants also require certain maximum ratios of debt to total capitalization and minimum levels of fixed charges (interest and rent) coverage. As of August 31, 2019 principal payments on the notes payable are expected as follows: (In thousands) Year ending August 31, 2020 $ 29,084 2021 30,921 2022 23,258 2023 22,907 2024 (1) 754,375 Thereafter – $ 860,545 (1) The repayment of the $275.0 million of Convertible senior notes due February 2024 and the $50.0 million of Convertible senior notes due July 2024 is assumed to occur at the scheduled maturity in 2024 instead of assuming an earlier conversion by the holders.

Derivative Instruments

Derivative Instruments	12 Months Ended
	Aug. 31, 2019
Derivative Instruments	Note 15 - Derivative Instruments Foreign operations give rise to market risks from changes in foreign currency exchange rates. Foreign currency forward exchange contracts with established financial institutions are utilized to hedge a portion of that risk. Interest rate swap agreements are used to reduce the impact of changes in interest rates on certain debt. The Company’s foreign currency forward exchange contracts and interest rate swap agreements are designated as cash flow hedges, and therefore the effective portion of unrealized gains and losses is recorded in accumulated other comprehensive income or loss. At August 31, 2019 exchange rates, notional amounts of forward exchange contracts for the purchase of Polish Zlotys and the sale of Euros and Pound Sterling aggregated to $71.6 million. The fair value of the contracts is included on the Consolidated Balance Sheets as Accounts payable and accrued liabilities when there is a loss, or as Accounts receivable, net when there is a gain. As the contracts mature at various dates through May 2022, any such gain or loss remaining will be recognized in manufacturing revenue along with the related transactions. In the event that the underlying transaction does not occur or does not occur in the period designated at the inception of the hedge, the amount classified in accumulated other comprehensive loss would be reclassified to the results of operations in Interest and foreign exchange at the time of occurrence. At August 31, 2019 exchange rates, approximately $0.9 million would be reclassified to revenue or cost of revenue in the next year. At August 31, 2019, an interest rate swap agreement maturing in September 2023 had a notional amount of $109.5 million and an interest rate swap agreement maturing in June 2024 had a notional amount of $150.0 million. The fair value of the contracts are included on the Consolidated Balance Sheets in Accounts payable and accrued liabilities when there is a loss, or in Accounts receivable, net when there is a gain. As interest expense on the underlying debt is recognized, amounts corresponding to the interest rate swap are reclassified from Accumulated other comprehensive loss and charged or credited to interest expense. At August 31, 2019 interest rates, approximately $0.2 million would be reclassified to interest expense in the next year. Fair Values of Derivative Instruments Asset Derivatives Liability Derivatives August 31, August 31, 2019 2018 2019 2018 (In thousands) Balance sheet caption Fair Value Fair Value Balance sheet caption Fair Value Fair Value Derivatives designated as hedging instruments Foreign forward exchange contracts Accounts receivable, net $ 64 $ 700 Accounts payable and accrued liabilities $ 437 $ 1,211 Interest rate swap contracts Intangibles and other assets, net – 781 Accounts payable and accrued liabilities 10,255 1 $ 64 $ 1,481 $ 10,692 $ 1,212 Derivatives not designated as hedging instruments Foreign forward exchange contracts Accounts receivable, net $ – $ 76 Accounts payable and accrued liabilities $ 587 $ 354 The Effect of Derivative Instruments on the Consolidated Statements of Income Derivatives in cash flow hedging relationships Financial statement caption of gain recognized in income on derivative Gain (loss) recognized in income on derivatives August 31, 2019 2018 Foreign forward exchange contract Interest and foreign exchange $ 213 $ 1,052 Interest rate swap contracts Interest and foreign exchange – (1 ) $ 213 $ 1,051 Derivatives in cash flow hedging relationships Gain (loss) recognized in OCI on derivatives (effective portion) Years ended August 31, Financial statement caption of gain (loss) reclassified from accumulated OCI into income Gain (loss) reclassified from accumulated OCI income (effective Years ended August 31, Financial statement caption of gain (loss) in income on derivative (ineffective portion and amount excluded from effectiveness testing) Gain (loss) recognized on derivative portion and amount excluded from effectiveness Years ended August 31, 2019 2018 2019 2018 2019 2018 Foreign forward exchange contracts $ (1,261 ) $ (658 ) Revenue $ (764 ) $ 1,145 Revenue $ 1,346 $ 854 Foreign forward exchange contracts (421 ) (1,093 ) Cost of revenue (1,030 ) (429 ) Cost of revenue 935 306 Interest rate swap contracts (11,582 ) 1,632 Interest and foreign exchange (545 ) (298 ) Interest and foreign exchange (587 ) – $ (13,264 ) $ (119 ) $ (2,339 ) $ 418 $ 1,694 $ 1,160

Equity

Equity	12 Months Ended
	Aug. 31, 2019
Equity	Note 16 - Equity Stock Incentive Plan The 2014 Amended and Restated Stock Incentive Plan was amended and restated as the 2017 Amended and Restated Stock Incentive Plan on October 24, 2017 and approved by stockholders on January 5, 2018. The stockholders also approved an increase in the total number of shares reserved for issuance by 1,100,000 shares. As a result, the maximum aggregate number of the Company’s common shares authorized for issuance is 5,425,000. The 2017 Amended and Restated Stock Incentive Plan provides for the grant of incentive stock options, non-statutory On August 31, 2019 there were 849,522 shares available for grant compared to 1,050,675 and 233,271 shares available for grant as of the years ended August 31, 2018 and 2017, respectively. There are no stock options or stock appreciation rights outstanding as of August 31, 2019. The Company currently grants restricted shares and restricted stock units. Restricted share grants are considered outstanding shares of common stock at the time they are issued. The holders of unvested restricted shares are entitled to voting rights and participation in dividends. Shares associated with restricted stock unit awards are not considered legally outstanding shares of common stock until vested. Restricted stock unit awards, including performance-based awards, are entitled to participate in dividends and these awards are considered participating securities and are considered outstanding for earnings per share purposes when the effect is dilutive. During the years ended August 31, 2019, 2018 and 2017, the Company awarded restricted share and restricted stock unit grants totaling 313,540, 317,036, and 269,705 shares, respectively, which include performance-based grants. As of August 31, 2019, there were a total of 397,260 shares associated with unvested performance-based grants. The actual number of shares that will vest associated with performance-based grants will vary depending on the Company’s performance. Approximately 397,260 additional shares may be granted if performance-based restricted stock unit awards vest at stretch levels of performance. These additional shares are associated with restricted stock unit awards granted during the years ended August 31, 2019, 2018 and 2017. The fair value of awards granted was $17.4 million, $15.2 million, and $11.3 million for the years ended August 31, 2019, 2018 and 2017, respectively. The value, at the date of grant, of stock awarded under restricted share grants and restricted stock unit grants is amortized as compensation expense over the lesser of the vesting period of one to three years or to the recipients eligible retirement date. Compensation expense recognized related to restricted share grants and restricted stock unit grants for the years ended August 31, 2019, 2018 and 2017 was $12.4 million, $17.2 million, and $20.2 million, respectively, and was recorded in Selling and administrative and Cost of revenue on the Consolidated Statements of Income. Unamortized compensation cost related to restricted stock grants was $15.0 million as of August 31, 2019. Total unvested restricted share and restricted stock unit grants were 697,949 and 788,744 as of August 31, 2019 and 2018. The following table summarizes restricted share and restricted stock unit grant transactions for shares, both vested and unvested, under the 2017 Amended and Restated Stock Incentive Plan: Shares Balance at August 31, 2016 (1) 3,848,230 Granted 269,705 Forfeited (26,206 ) Balance at August 31, 2017 (1) 4,091,729 Granted 317,036 Forfeited (34,440 ) Balance at August 31, 2018 (1) 4,374,325 Granted 313,540 Forfeited (112,387 ) Balance at August 31, 2019 (1) 4,575,478 (1) Balance represents cumulative grants net of forfeitures. Share Repurchase Program The Board of Directors has authorized the Company to repurchase shares of the Company’s common stock. The share repurchase program has an expiration date of March 31, 2021 and the amount remaining for repurchase is $100 million. Under the share repurchase program, shares of common stock may be purchased on the open market or through privately negotiated transactions from time to time. The timing and amount of purchases will be based upon market conditions, securities law limitations and other factors. The program may be modified, suspended or discontinued at any time without prior notice. The share repurchase program does not obligate the Company to acquire any specific number of shares in any period. There were no shares repurchased during the years ended August 31, 2019 and 2018. As of August 31, 2019 the Company had cumulatively repurchased 3,206,226 shares for approximately $137.0 million.

Earnings Per Share

Earnings Per Share	12 Months Ended
	Aug. 31, 2019
Earnings Per Share	Note 17 - Earnings Per Share The shares used in the computation of the Company’s basic and diluted earnings per common share are reconciled as follows: Years ended August 31, (In thousands) 2019 2018 2017 Weighted average basic common shares outstanding (1) 32,615 30,857 29,225 Dilutive effect of 3.5% Convertible notes (2) n/a 1,821 3,295 Dilutive effect of 2.875% Convertible notes (3) – – – Dilutive effect of 2.25% Convertible notes (4) – n/a n/a Dilutive effect of restricted stock units (5) 550 157 42 Weighted average diluted common shares outstanding 33,165 32,835 32,562 (1) Restricted stock grants and restricted stock units that are considered participating securities, including some grants subject to certain performance criteria, are included in weighted average basic common shares outstanding when the Company is in a net earnings position. No restricted stock and restricted stock units were anti-dilutive for the years ended August 31, 2019, 2018 and 2017. (2) The dilutive effect of the 3.5% Convertible notes was included as they were considered dilutive under the “if converted” method as further discussed below for the years ended August 31, 2018 and 2017. The 3.5% (3) The 2.875% Convertible notes were issued in February 2017. The dilutive effect of the 2.875% (4) The 2.25% Convertible notes were issued in July 2019. The dilutive effect of the 2.25% Convertible notes was excluded for the year ended August 31, 2019 as the average stock price was less than the applicable conversion price and therefore was considered anti-dilutive. (5) Restricted stock units that are not considered participating securities and restricted stock units subject to performance criteria, for which actual levels of performance above target have been achieved, are included in weighted average diluted common shares outstanding when the Company is in a net earnings position. Diluted EPS is calculated using the more dilutive of two approaches. The first approach includes the dilutive effect, using the treasury stock method, associated with shares underlying the 2.875% Convertible notes, 2.25% Convertible notes, restricted stock units that are not considered participating securities and performance based restricted stock units subject to performance criteria, for which actual levels of performance above target have been achieved. The second approach supplements the first by including the “if converted” effect of the 3.5% Convertible notes during the periods in which they were outstanding. Under the “if converted” method, debt issuance and interest costs, both net of tax, associated with the convertible notes are added back to net earnings and the share count is increased by the shares underlying the convertible notes. The 3.5% Convertible notes were included in the calculation of both approaches using the treasury stock method when the average stock price is greater than the applicable conversion price. Years ended August 31, 2019 2018 2017 Net earnings attributable to Greenbrier $ 71,076 $ 151,781 $ 116,067 Add back: Interest and debt issuance costs on the 3.5% Convertible notes, net of tax n/a 2,031 2,932 Earnings before interest and debt issuance costs on the 3.5% Convertible notes $ 71,076 $ 153,812 $ 118,999 Weighted average diluted common shares outstanding 33,165 32,835 32,562 Diluted earnings per share (1) $ 2.14 $ 4.68 $ 3.65 (1) Diluted earnings per share was calculated as follows: Earnings before interest and debt issuance costs on the 3.5% Convertible notes Weighted average diluted common shares outstanding

Related Party Transactions

Related Party Transactions	12 Months Ended
	Aug. 31, 2019
Related Party Transactions	Note 18 - Related Party Transactions In June 2017, the Company purchased a 40% interest in the common equity of an entity that buys and sells railcar assets that are leased to third parties. The railcars sold to this leasing warehouse are principally built by Greenbrier. The Company accounts for this leasing warehouse investment under the equity method of accounting. As of August 31, 2019, the carrying amount of the investment was $5.8 million which is classified in Investment in unconsolidated affiliates in the Consolidated Balance Sheet. Upon sale of railcars to this entity from Greenbrier, 60% of the related revenue and margin is recognized and 40% is deferred until the railcars are ultimately sold by the entity. The Company recognized $18 million, $16 million and $130 million in revenue associated with railcars sold into the leasing warehouse during the years ended August 31, 2019, 2018 and 2017, respectively. An additional $6 million and $48 million in revenue was recognized associated with railcars sold out of the leasing warehouse during the years ended August 31, 2019 and 2018, respectively. The Company also provides administrative and remarketing services to this entity and earns management fees for these services which were immaterial for the year ended August 31, 2019, 2018 and 2017. As of August 31, 2019, the Company had a $10.0 million note receivable from Amsted-Maxion, its unconsolidated Brazilian castings and components manufacturer and an $18.4 million note receivable balance from Greenbrier-Maxion, its unconsolidated Brazilian railcar manufacturer. These note receivables are included on the Consolidated Balance Sheet in Accounts receivable, net. The Company has a 41.9% interest in Axis, LLC (Axis), a joint venture that manufactures and sells axles to its joint venture partners for use and distribution both domestically and internationally in traditional freight railcar markets and other railcar markets. The Company obtained its ownership interest in Axis as part of the acquisition of the manufacturing business of ARI on July 26, 2019. For the year ended August 31, 2019, the Company purchased $1.6 million of railcar components from Axis. Mr. Furman is the owner of a private aircraft managed by a private independent management company. From time to time, the Company’s business requires charter use of privately-owned aircraft. In such instances, it is possible that charters may be placed on Mr. Furman’s aircraft. The Company placed charters on Mr. Furman’s aircraft aggregating $1.5 million, $0.5 million and $0.5 million for each of the years ended August 31, 2019, 2018 and 2017, respectively. In July 2014, the Company and Watco Companies LLC completed the formation of GBW, an unconsolidated 50/50 joint venture. The Company accounted for its interest in GBW under the equity method of accounting. On August 20, 2018 we entered into an agreement with our joint venture partner to discontinue the GBW railcar repair joint venture. The Company leased real and personal property to GBW with lease revenue totaling approximately $5 million for the years ended August 31, 2018 and 2017. The Company sold wheel sets and components to GBW which totaled $16.5 million and $18.3 million for the years ended August 31, 2018 and 2017, respectively. GBW provided services to the Company which totaled $0.4 million and $1.0 million for the years ended August 31, 2018 and 2017, respectively.

Income Taxes

Income Taxes	12 Months Ended
	Aug. 31, 2019
Income Taxes	Note 19 - Income Taxes Components of income tax expense were as follows: Years ended August 31, (In thousands) 2019 2018 2017 Current Federal $ 18,894 $ 28,357 $ 22,710 State 4,775 3,244 305 Foreign 37,391 38,628 35,893 61,060 70,229 58,908 Deferred Federal (8,559 ) (33,459 ) 9,418 State (2,542 ) (344 ) (1,467 ) Foreign (8,433 ) (3,690 ) (2,732 ) (19,534 ) (37,493 ) 5,219 Change in valuation allowance 62 157 (113 ) Income tax expense $ 41,588 $ 32,893 $ 64,014 Income tax expense was computed using different statutory rates for the years presented. Due to the 2017 Tax Cuts and Jobs Act (Tax Act) enacted on December 22, 2017, the federal statutory rate was reduced from 35% to 21% effective January 1, 2018. The U.S. federal corporate statutory rates presented are 21%, 25.7% and 35% for fiscal years 2019, 2018 and 2017, respectively. The Company recognized the income tax effects of the Tax Act in its financial statements in accordance with Staff Accounting Bulletin No. 118 (SAB 118), which provided guidance for the application of ASC 740 Income Taxes one-time For the year ended August 31, 2019, the Company has estimated the impacts of the Tax Act which became effective on January 1, 2018. The most significant item, impacting the Company in the current year, is the global intangible low-taxed The reconciliation between effective and statutory tax rates on operations is as follows: Years ended August 31, 2019 2018 2017 Federal statutory rate 21.0 % 25.7 % 35.0 % State income taxes, net of federal benefit 1.3 0.8 0.1 Foreign operations, excluding transition tax 5.8 1.8 (3.4 ) Transition tax on foreign earnings 0.5 3.1 – Remeasurement of domestic deferred taxes – (15.0 ) – Change in valuation allowance – 0.1 – Noncontrolling interest in flow-through entity (5.7 ) (2.4 ) (6.0 ) Permanent differences and other 4.2 0.6 1.4 Effective tax rate 27.1 % 14.7 % 27.1 % Earnings before income tax and earnings from unconsolidated affiliates for the years ended August 31, 2019, 2018 and 2017 were $75.0 million, $110.8 million and $123.2 million, respectively, for our domestic U.S. operations and $78.2 million, $112.8 million and $113.0 million, respectively, for our foreign operations. The tax effects of temporary differences that give rise to significant portions of deferred tax assets and deferred tax liabilities were as follows: As of August 31, (In thousands) 2019 2018 Deferred tax assets: Accrued payroll and related liabilities $ 21,978 $ 18,461 Deferred revenue 8,296 10,642 Inventories and other 15,392 10,518 Maintenance and warranty accruals 3,596 7,201 Net operating losses 3,182 2,002 Investment and asset tax credits 1,560 1,439 54,004 50,263 Deferred tax liabilities: Fixed assets 56,760 70,942 Original issue discount 6,253 6,099 Intangibles 2,813 2,474 Other 1,432 1,831 67,258 81,346 Valuation allowance 692 657 Net deferred tax liability $ 13,946 $ 31,740 As of August 31, 2019, the Company had $1.4 million of state credit carryforwards that will begin to expire in 2021 and $19.6 million of foreign NOL carryforwards that will begin to expire in 2020. The Company has placed valuation allowances against any deferred tax assets for which no benefit is anticipated, including those for loss and credit carryforwards not likely to be used before their expiration dates. The net increase in the total valuation allowance on deferred taxes for which no benefit is anticipated was less than $0.1 million for the year ended August 31, 2019. Prior to 2018 no provision had been made for U.S. income taxes on the Company’s cumulative undistributed earnings from foreign subsidiaries. During fiscal 2018 these earnings were subject to the one-time The following is a tabular reconciliation of the total amounts of unrecognized tax benefits: Years ended August 31, (In thousands) 2019 2018 2017 Unrecognized Tax Benefit – Opening Balance $ 1,608 $ 1,820 $ 942 Gross increases – tax positions in prior period – 237 1,368 Gross decreases – tax positions in prior period (3 ) (449 ) (53 ) Settlements – – – Lapse of statute of limitations – – (437 ) Unrecognized Tax Benefit – Ending Balance $ 1,605 $ 1,608 $ 1,820 The Company is subject to taxation in the U.S. and in various states and foreign jurisdictions. The Company is effectively no longer subject to U.S. Federal examination for fiscal years ending before 2016, to state and local examinations before 2015, or to foreign examinations before 2014. Unrecognized tax benefits, excluding interest, at August 31, 2019 were $1.6 million, all of which would affect the effective tax rate if recognized. The unrecognized tax benefits at August 31, 2018 were $1.6 million. Accrued interest on unrecognized tax benefits as of August 31, 2019 was $0.6 million and as of August 31, 2018 was $0.2 million. The Company recorded annual interest expense of approximately $0.4 million for changes in the reserves during each of the years ended August 31, 2019 and 2018. The Company has not accrued any penalties on the reserves. Interest and penalties related to income taxes are not classified as a component of income tax expense. Benefits from the realization of unrecognized tax benefits for deductible differences attributable to ordinary operations will be recognized as a reduction of income tax expense. The Company does not anticipate a significant change in the reserves for uncertain tax positions during the next twelve months.

Segment Information

Segment Information	12 Months Ended
	Aug. 31, 2019
Segment Information	Note 20 - Segment Information The Company operates in three reportable segments: Manufacturing; Wheels, Repair & Parts; and Leasing & Services. Prior to August 20, 2018, the Company operated in four reportable segments: Manufacturing; Wheels & Parts; Leasing & Services; and GBW Joint Venture. On August 20, 2018 the Company entered into an agreement with its joint venture partner to discontinue the GBW railcar repair joint venture, which resulted in 12 repair shops returned to the Company. Beginning on August 20, 2018, the GBW Joint Venture was no longer considered a reportable segment. The accounting policies of the segments are the same as those described in the summary of significant accounting policies. Performance is evaluated based on Earnings from operations. Corporate includes selling and administrative costs not directly related to goods and services and certain costs that are intertwined among segments due to our integrated business model. The Company does not allocate Interest and foreign exchange or Income tax expense for either external or internal reporting purposes. Intersegment sales and transfers are valued as if the sales or transfers were to third parties. Related revenue and margin are eliminated in consolidation and therefore are not included in consolidated results in the Company’s Consolidated Financial Statements. The information in the following table is derived directly from the segments’ internal financial reports used for corporate management purposes. The results of operations for the GBW Joint Venture are not reflected in the tables below as the investment was accounted for under the equity method of accounting. For the year ended August 31, 2019: Revenue Earnings (loss) from operations External Intersegment Total External Intersegment Total Manufacturing $ 2,431,499 $ 97,086 $ 2,528,585 $ 217,583 $ 6,370 $ 223,953 Wheels, Repair & Parts 444,502 48,266 492,768 (2,941 ) 902 (2,039 ) Leasing & Services 157,590 28,240 185,830 64,763 25,527 90,290 Eliminations – (173,592 ) (173,592 ) – (32,799 ) (32,799 ) Corporate – – – (95,289 ) – (95,289 ) $ 3,033,591 $ – $ 3,033,591 $ 184,116 $ – $ 184,116 For the year ended August 31, 2018: Revenue Earnings (loss) from operations External Intersegment Total External Intersegment Total Manufacturing $ 2,044,586 $ 118,157 $ 2,162,743 $ 240,901 $ 17,721 $ 258,622 Wheels, Repair & Parts 347,023 41,494 388,517 16,731 2,748 19,479 Leasing & Services 127,855 11,847 139,702 88,481 10,296 98,777 Eliminations – (171,498 ) (171,498 ) – (30,765 ) (30,765 ) Corporate – – – (93,128 ) – (93,128 ) $ 2,519,464 $ – $ 2,519,464 $ 252,985 $ – $ 252,985 For the year ended August 31, 2017: Revenue Earnings (loss) from operations External Intersegment Total External Intersegment Total Manufacturing $ 1,725,188 $ 19,291 $ 1,744,479 $ 295,334 $ 1,022 $ 296,356 Wheels, Repair & Parts 312,679 30,861 343,540 14,984 2,303 17,287 Leasing & Services 131,297 11,812 143,109 31,904 11,099 43,003 Eliminations – (61,964 ) (61,964 ) – (14,424 ) (14,424 ) Corporate – – – (81,790 ) – (81,790 ) $ 2,169,164 $ – $ 2,169,164 $ 260,432 $ – $ 260,432 Years ended August 31, (In thousands) 2019 2018 2017 Assets: Manufacturing $ 1,606,571 $ 1,020,757 $ 914,450 Wheels, Repair & Parts 306,725 306,756 236,315 Leasing & Services 708,799 578,818 535,323 Unallocated 368,542 559,133 711,617 $ 2,990,637 $ 2,465,464 $ 2,397,705 Depreciation and amortization: Manufacturing $ 49,240 $ 44,225 $ 33,807 Wheels, Repair & Parts 13,024 10,771 11,143 Leasing & Services 21,467 19,360 20,179 $ 83,731 $ 74,356 $ 65,129 Capital expenditures: Manufacturing $ 85,155 $ 59,707 $ 54,973 Wheels, Repair & Parts 13,291 5,204 3,129 Leasing & Services 99,787 111,937 27,963 $ 198,233 $ 176,848 $ 86,065 The following table summarizes selected geographic information. Years ended August 31, (In thousands) 2019 2018 2017 Revenue (1) U.S. $ 2,115,934 $ 1,840,877 $ 1,674,517 Foreign 917,657 678,587 494,647 $ 3,033,591 $ 2,519,464 $ 2,169,164 Assets: U.S. $ 2,110,864 $ 1,677,144 $ 1,307,239 Mexico 628,511 517,543 791,974 Europe 251,262 270,777 298,492 $ 2,990,637 $ 2,465,464 $ 2,397,705 (1) Revenue is presented on the basis of geographic location of customers. Reconciliation of Earnings from operations to Earnings before income tax and loss from unconsolidated affiliates: Years ended August 31, (In thousands) 2019 2018 2017 Earnings from operations $ 184,116 $ 252,985 $ 260,432 Interest and foreign exchange 30,912 29,368 24,192 Earnings before income tax and loss from unconsolidated affiliates $ 153,204 $ 223,617 $ 236,240

Customer Concentration

Customer Concentration	12 Months Ended
	Aug. 31, 2019
Customer Concentration	Note 21 - Customer Concentration Customer concentration is defined as a single customer that accounts for more than 10% of total revenues or accounts receivable. In 2019, revenue from one customer represented 26% of total revenue. In 2018, revenue from two customers represented 20% and 11% of total revenue. In 2017, revenue from one customer represented 20% of total revenue. No other customers accounted for more than 10% of total revenues for the years ended August 31, 2019, 2018, or 2017. One customer had a balance that individually equaled or exceeded 10% of accounts receivable and represented 14% of the consolidated accounts receivable balance at August 31, 2019. One customer had a balance that individually equaled or exceeded 10% of accounts receivable and represented 19% of the consolidated accounts receivable balance at August 31, 2018.

Lease Commitments

Lease Commitments	12 Months Ended
	Aug. 31, 2019
Lease Commitments	Note 22 - Lease Commitments Lease expense for railcar equipment leased-in non-cancelable non-cancelable (In thousands) Year ending August 31, 2020 $ 6,200 2021 2,965 2022 1,762 2023 1,762 2024 1,413 Thereafter 376 $ 14,478 Operating leases for domestic railcar repair facilities, land, office space and certain manufacturing and office equipment expire at various dates through September 2098. Rental expense for these leases were $12.2 million, $8.7 million and $9.4 million non-cancelable (In thousands) Year ending August 31, 2020 $ 8,099 2021 5,781 2022 3,965 2023 3,395 2024 2,109 Thereafter 9,821 $ 33,170

Commitments and Contingencies

Commitments and Contingencies	12 Months Ended
	Aug. 31, 2019
Commitments and Contingencies	Note 23 - Commitments and Contingencies Portland Harbor Superfund Site The Company’s Portland, Oregon manufacturing facility is located adjacent to the Willamette River. In December 2000, the U.S. Environmental Protection Agency (EPA) classified portions of the Willamette River bed known as the Portland Harbor, including the portion fronting the Company’s manufacturing facility, as a federal “National Priority List” or “Superfund” site due to sediment contamination (the Portland Harbor Site). The Company and more than 140 other parties have received a “General Notice” of potential liability from the EPA relating to the Portland Harbor Site. The letter advised the Company that it may be liable for the costs of investigation and remediation (which liability may be joint and several with other potentially responsible parties) as well as for natural resource damages resulting from releases of hazardous substances to the site. Ten private and public entities, including the Company (the Lower Willamette Group or LWG), signed an Administrative Order on Consent (AOC) to perform a remedial investigation/feasibility study (RI/FS) of the Portland Harbor Site under EPA oversight, and several additional entities did not sign such consent, but nevertheless contributed money to the effort. The EPA-mandated 17-year 17-year Separate from the process described above, which focused on the type of remediation to be performed at the Portland Harbor Site and the schedule for such remediation, 83 parties, including the State of Oregon and the federal government, entered into a non-judicial Arkema Inc. et al v. A & C Foundry Products, Inc. et al #3:09-cv-453-PK. The EPA’s January 6, 2017 ROD identifies a clean-up -30% 2-year clean-up clean-up The ROD does not address responsibility for the costs of clean-up, On January 30, 2017 the Confederated Tribes and Bands of Yakama Nation sued 33 parties including the Company as well as the United States and the State of Oregon for costs it incurred in assessing alleged natural resource damages to the Columbia River from contaminants deposited in Portland Harbor. Confederated Tribes and Bands of the Yakama Nation v. Air Liquide America Corp., et al., 3i17-CV-00164-SB. Oregon Department of Environmental Quality (DEQ) Regulation of Portland Manufacturing Operations The Company has entered into a Voluntary Cleanup Agreement with the DEQ in which the Company agreed to conduct an investigation of whether, and to what extent, past or present operations at the Portland property may have released hazardous substances into the environment. The Company has also signed an Order on Consent with the DEQ to finalize the investigation of potential onsite sources of contamination that may have a release pathway to the Willamette River. Interim precautionary measures are also required in the order and the Company is discussing with the DEQ potential remedial actions which may be required. The Company’s aggregate expenditure has not been material, however the Company could incur significant expenses for remediation. Some or all of any such outlay may be recoverable from other responsible parties. Other Litigation, Commitments and Contingencies In connection with the acquisition of the manufacturing business of ARI, the Company agreed to assume potential legacy liabilities (known and unknown) related to railcars manufactured by ARI. Among these potential liabilities are certain retrofit and repair obligations arising from regulatory actions by the Federal Railroad Administration and the Association of American Railroads. In some cases, ARI shares with the Company the costs of these retrofit and repair obligations. The Company currently is not able to determine if any of these liabilities will have a material adverse impact on the Company’s results of operations. From time to time, Greenbrier is involved as a defendant in litigation in the ordinary course of business, the outcomes of which cannot be predicted with certainty. While the ultimate outcome of such legal proceedings cannot be determined at this time, the Company believes that the resolution of pending litigation will not have a material adverse effect on the Company’s Consolidated Financial Statements. As of August 31, 2019, the Company had outstanding letters of credit aggregating to $24.4 million associated with performance guarantees, facility leases and workers compensation insurance. As of August 31, 2019, the Company had a $10.0 million note receivable from Amsted-Maxion, its unconsolidated Brazilian castings and components manufacturer and an $18.4 million note receivable balance from Greenbrier-Maxion, its unconsolidated Brazilian railcar manufacturer. These note receivables are included on the Consolidated Balance Sheet in Accounts receivable, net. In the future, the Company may make loans to or provide guarantees for Amsted-Maxion or Greenbrier-Maxion.

Fair Value of Financial Instrum

Fair Value of Financial Instruments	12 Months Ended
	Aug. 31, 2019
Fair Value of Financial Instruments	Note 24 - Fair Value of Financial Instruments The estimated fair values of financial instruments and the methods and assumptions used to estimate such fair values are as follows: (In thousands) Carrying Amount 1 Estimated Fair Value (Level 2) Notes payable as of August 31, 2019 $ 860,545 $ 838,728 Notes payable as of August 31, 2018 $ 469,721 $ 517,925 1 Carrying amount disclosed in this table excludes debt discount and debt issuance costs. The carrying amount of cash and cash equivalents, accounts and notes receivable, revolving notes, accounts payable and accrued liabilities, foreign currency forward contracts and interest rate swaps is a reasonable estimate of fair value of these financial instruments. Estimated rates currently available to the Company for debt with similar terms and remaining maturities and current market data are used to estimate the fair value of notes payable.

Fair Value Measures

Fair Value Measures	12 Months Ended
	Aug. 31, 2019
Fair Value Measures	Note 25 - Fair Value Measures Certain assets and liabilities are reported at fair value on either a recurring or nonrecurring basis. Fair value, for this disclosure, is defined as an exit price, representing the amount that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants, under a three-tier fair value hierarchy which prioritizes the inputs used in measuring a fair value as follows: Level 1 - observable inputs such as unadjusted quoted prices in active markets for identical instruments; Level 2 - inputs, other than the quoted market prices in active markets for similar instruments, which are observable, either directly or indirectly; and Level 3 - unobservable inputs for which there is little or no market data available, which require the reporting entity to develop its own assumptions. Assets and liabilities measured at fair value on a recurring basis as of August 31, 2019 are: (In thousands) Total Level 1 Level 2 (1) Level 3 Assets: Derivative financial instruments $ 64 $ – $ 64 $ – Nonqualified savings plan investments 27,967 27,967 – – Cash equivalents 68,100 68,100 – – $ 96,131 $ 96,067 $ 64 $ – Liabilities: Derivative financial instruments $ 11,279 $ – $ 11,279 $ – (1) Level 2 assets include derivative financial instruments which are valued based on significant observable inputs. See Note 15—Derivative Instruments for further discussion. Assets and liabilities measured at fair value on a recurring basis as of August 31, 2018 are: (In thousands) Total Level 1 Level 2 (1) Level 3 Assets: Derivative financial instruments $ 1,557 $ – $ 1,557 $ – Nonqualified savings plan investments 26,299 26,299 – – Cash equivalents 126,430 126,430 – – $ 154,286 $ 152,729 $ 1,557 $ – Liabilities: Derivative financial instruments $ 1,566 $ – $ 1,566 $ –

Quarterly Results of Operations

Quarterly Results of Operations (Unaudited)	12 Months Ended
	Aug. 31, 2019
Quarterly Results of Operations (Unaudited)	Quarterly Results of Operations (Unaudited) (In thousands, except per share amount) First Second Third Fourth Total 2019 Revenue Manufacturing $ 471,789 $ 476,019 $ 681,588 $ 802,103 $ 2,431,499 Wheels, Repair & Parts 108,543 125,278 124,980 85,701 444,502 Leasing & Services 24,191 57,374 49,584 26,441 157,590 604,523 658,671 856,152 914,245 3,033,591 Cost of revenue Manufacturing 417,805 442,996 590,788 686,036 2,137,625 Wheels, Repair & Parts 100,978 118,455 119,821 81,636 420,890 Leasing & Services 13,207 43,376 38,971 13,036 108,590 531,990 604,827 749,580 780,708 2,667,105 Margin 72,533 53,844 106,572 133,537 366,486 Selling and administrative 50,432 47,892 54,377 60,607 213,308 Net gain on disposition of equipment (14,353 ) (12,102 ) (11,019 ) (3,489 ) (40,963 ) Goodwill impairment – – 10,025 – 10,025 Earnings from operations 36,454 18,054 53,189 76,419 184,116 Other costs Interest and foreign exchange 4,404 9,237 9,770 7,501 30,912 Earnings before income tax and earnings (loss) from unconsolidated affiliates 32,050 8,817 43,419 68,918 153,204 Income tax expense (9,135 ) (2,248 ) (13,008 ) (17,197 ) (41,588 ) Earnings (loss) from unconsolidated affiliates 467 (786 ) (4,564 ) (922 ) (5,805 ) Net earnings 23,382 5,783 25,847 50,799 105,811 Net earnings attributable to noncontrolling interest (5,426 ) (3,018 ) (10,599 ) (15,692 ) (34,735 ) Net earnings attributable to Greenbrier $ 17,956 $ 2,765 $ 15,248 $ 35,107 $ 71,076 Basic earnings per common share: (1) $ 0.55 $ 0.08 $ 0.47 $ 1.08 $ 2.18 Diluted earnings per common share: (1) $ 0.54 $ 0.08 $ 0.46 $ 1.06 $ 2.14 (1) Quarterly amounts do not total to the year to date amount as each period is calculated discretely. Diluted EPS is calculated by including the dilutive effect, using the treasury stock method, associated with shares underlying the 2.875% Convertible notes, 2.25% Convertible notes, restricted stock units that are not considered participating securities and performance based restricted stock units subject to performance criteria, for which actual levels of performance above target have been achieved. Quarterly Results of Operations (Unaudited) (In thousands, except per share amount) First Second Third Fourth Total 2018 Revenue Manufacturing $ 451,485 $ 511,827 $ 510,099 $ 571,175 $ 2,044,586 Wheels, Repair & Parts 78,011 88,710 94,515 85,787 347,023 Leasing & Services 30,039 28,799 36,773 32,244 127,855 559,535 629,336 641,387 689,206 2,519,464 Cost of revenue Manufacturing 380,850 429,165 427,875 489,517 1,727,407 Wheels, Repair & Parts 72,506 80,708 85,850 79,266 318,330 Leasing & Services 16,865 14,116 19,155 14,536 64,672 470,221 523,989 532,880 583,319 2,110,409 Margin 89,314 105,347 108,507 105,887 409,055 Selling and administrative 47,043 50,294 51,793 51,309 200,439 Net gain on disposition of equipment (19,171 ) (5,817 ) (14,825 ) (4,556 ) (44,369 ) Earnings from operations 61,442 60,870 71,539 59,134 252,985 Other costs Interest and foreign exchange 7,020 7,029 6,533 8,786 29,368 Earnings before income tax and earnings (loss) from unconsolidated affiliates 54,422 53,841 65,006 50,348 223,617 Income tax benefit (expense) (18,135 ) 11,301 (15,944 ) (10,115 ) (32,893 ) Earnings (loss) from unconsolidated affiliates (2,910 ) 147 (12,823 ) (3,075 ) (18,661 ) Net earnings 33,377 65,289 36,239 37,158 172,063 Net earnings attributable to noncontrolling interest (7,124 ) (3,647 ) (3,288 ) (6,223 ) (20,282 ) Net earnings attributable to Greenbrier $ 26,253 $ 61,642 $ 32,951 $ 30,935 $ 151,781 Basic earnings per common share: (1) $ 0.90 $ 2.10 $ 1.03 $ 0.95 $ 4.92 Diluted earnings per common share: (1) $ 0.83 $ 1.91 $ 1.01 $ 0.94 $ 4.68 (1) Quarterly amounts do not total to the year to date amount as each period is calculated discretely. Diluted EPS is calculated using the more dilutive of two approaches. The first approach includes the dilutive effect, using the treasury stock method, associated with shares underlying the 2.875% Convertible notes, restricted stock units that are not considered participating securities and performance based restricted stock units subject to performance criteria, for which actual levels of performance above target have been achieved. The second approach supplements the first by including the “if converted” effect of the 3.5% Convertible notes during the periods in which they were outstanding. Under the “if converted” method, debt issuance and interest costs, both net of tax, associated with the convertible notes are added back to net earnings and the share count is increased by the shares underlying the convertible notes. The 3.5% Convertible notes are included in the calculation of both approaches using the treasury stock method when the average stock price is greater than the applicable conversion price.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	12 Months Ended
	Aug. 31, 2019
Principles of consolidation	Principles of consolidation -
Unclassified balance sheet	Unclassified balance sheet - non-current
Foreign currency translation	Foreign currency translation - year-end
Cash and cash equivalents	Cash and cash equivalents -
Restricted cash	Restricted cash -
Accounts receivable	Accounts receivable - As of August 31, (In thousands) 2019 2018 2017 Allowance for doubtful accounts Balance at beginning of period $ 2,701 $ 1,768 $ 2,215 Additions, net of reversals 773 938 370 Usage (1,311 ) (54 ) (891 ) Currency translation effect 13 49 74 Balance at end of period $ 2,176 $ 2,701 $ 1,768
Inventories	Inventories - first-in first-out Work-in-process
Leased railcars for syndication	Leased railcars for syndication -
Equipment on operating leases, net	Equipment on operating leases, net -
Investment in unconsolidated affiliates	Investment in unconsolidated affiliates -
Property, plant and equipment	Property, plant and equipment - Depreciable Life Buildings and improvements 10 – 30 years Machinery and equipment 3 – 20 years Other 3 – 7 years
Goodwill	Goodwill - Intangibles – Goodwill and Other
Intangible and other assets, net	Intangible and other assets, net -
Impairment of long-lived assets	Impairment of long-lived assets -
Warranty accruals	Warranty accruals -
Income taxes	Income taxes -
Deferred revenue	Deferred revenue
Noncontrolling interest and Contingently redeemable noncontrolling interest	Noncontrolling interest and Contingently redeemable noncontrolling interest - Greenbrier-Astra Rail was formed in 2017 between the Company’s existing European operations headquartered in Swidnica, Poland and Astra Rail, based in Arad, Romania. Greenbrier-Astra Rail is controlled by the Company with an approximate 75% interest. The Company consolidates Greenbrier-Astra Rail for financial reporting purposes and includes the noncontrolling interest in the mezzanine section of the Consolidated Balance Sheet in Contingently redeemable noncontrolling interest (see Note 4 – Acquisitions). In August 2018, Greenbrier-Astra Rail entered into an agreement to take an approximately 68% ownership stake in Rayvag, a railcar manufacturing company based in Adana, Turkey. Rayvag is controlled by the Company. The Company consolidates Rayvag for financial reporting purposes. The noncontrolling interest related to the partner’s interest is included in Noncontrolling interest in the equity section of the Company’s Consolidated Balance Sheet. The Company has a joint venture with Summit Railroad Products, Inc. to provide axle services. Each party owns a 50% interest in the joint venture. The financial results of this operation are consolidated for financial reporting purposes as the Company has the power to direct the activities which most significantly impact the economic performance of the entity. The noncontrolling interest related to the partner’s 50% interest in the joint venture is included in Noncontrolling interest in the equity section of the Company’s Consolidated Balance Sheet. Net earnings attributable to noncontrolling interest on the Company’s Consolidated Statement of Income represents the Company’s partners’ share of results from operations.
Accumulated other comprehensive loss	Accumulated other comprehensive loss - (In thousands) Unrealized Gain (Loss) on Derivative Financial Instruments Foreign Currency Translation Adjustment Other Accumulated Other Comprehensive Loss Balance, August 31, 2018 $ (431 ) $ (21,506 ) $ (1,429 ) $ (23,366 ) Other comprehensive loss before reclassifications (10,264 ) (12,688 ) (351 ) $ (23,303 ) Amounts reclassified from accumulated other comprehensive loss 1,854 – – $ 1,854 Balance, August 31, 2019 $ (8,841 ) $ (34,194 ) $ (1,780 ) $ (44,815 ) The amounts reclassified out of Accumulated other comprehensive loss into the Consolidated Statements of Income, with the financial statement caption, were as follows: Year Ended August 31, Financial Statement Caption (In thousands) 2019 2018 (Gain) loss on derivative financial instruments: Foreign exchange contracts $ 1,794 $ (716 ) Revenue and Cost of revenue Interest rate swap contracts 545 298 Interest and foreign exchange 2,339 (418 ) Total before tax (485 ) 3 Tax benefit (expense) $ 1,854 $ (415 ) Net of tax
Revenue recognition	Revenue recognition - Manufacturing Railcars are manufactured in accordance with contracts with customers. The Company recognizes revenue upon its customers’ acceptance of the completed railcars at a specified delivery point. From time to time, the Company enters into multi-year supply agreements. Each railcar delivery is considered a distinct performance obligation, such that the amounts that are recognized as revenue following railcar delivery are generally not subject to change. The Company typically recognizes marine vessel manufacturing revenue over time using the cost input method, based on progress toward contract completion measured by actual costs incurred to date in relation to the estimate of total expected costs. This method best depicts the Company’s performance in completing the construction of the marine vessel for the customer and is consistent with the percentage of completion method used prior to the adoption of the new revenue standard. Wheels, Repair & Parts The Company operates a network of wheel, repair and parts shops in North America that provide complete wheelset reconditioning and railcar repair services. Wheels revenue is recognized when wheelsets are shipped to the customer or when consumed by customers in the case of consignment arrangements. Parts revenue is recognized upon shipment of the parts to the customers. Repair revenue is typically recognized over time using the cost input method, based on progress toward contract completion measured by actual costs incurred to date in relation to the estimate of total expected costs. This method best depicts the Company’s performance in repairing the railcars for the customer. Repair services are typically completed in less than 90 days. Leasing & Services The Company owns a fleet of new and used cars which are leased to third-party customers. Lease revenue is recognized over the lease-term in the period in which it is earned in accordance with ASC 840 Leases Syndication transactions represent new and used railcars which have been placed on lease to a customer and which the Company intends to sell to an investor with the lease attached. At the time of such sale, revenue and cost of revenue associated with railcars that the Company has manufactured are recognized in the Manufacturing segment; while revenue and cost of revenue associated with railcars which were obtained from a third-party with the intent to resell them and subsequently sold, are recognized in Leasing & Services. In addition the Company will often perform management or maintenance services at market rates for these railcars. The Company evaluates the terms of any remarketing agreements and any contractual provisions that represent retained risk and the level of retained risk based on those provisions. The Company applies a 10% threshold to determine whether the level of retained risk exceeds 10% of the individual fair value of the rail cars delivered. If retained risk exceeded 10%, the transaction would not be recognized as a sale until such time as the retained risk declined to 10% or less. The Company enters into multi-year contracts to provide management and maintenance services to customers for which revenue is generally recognized on a straight-line basis over the contract term as a stand-ready obligation. Costs to fulfill these contracts are recognized as incurred.
Interest and foreign exchange	Interest and foreign exchange - (In thousands) Years ended August 31, 2019 2018 2017 Interest and foreign exchange: Interest and other expense $ 32,260 $ 30,946 $ 23,519 Foreign exchange (gain) loss (1,348 ) (1,578 ) 673 $ 30,912 $ 29,368 $ 24,192
Research and development	Research and development -
Net earnings per share	Net earnings per share - Diluted EPS is calculated using the more dilutive of two approaches. The first approach includes the dilutive effect, using the treasury stock method, associated with shares underlying the 2.875% Convertible notes, 2.25% Convertible notes, restricted stock units that are not considered participating securities and performance-based restricted stock units subject to performance criteria, for which actual levels of performance above target have been achieved. The second approach supplements the first by including the “if converted” effect of the 3.5% Convertible notes during the periods in which they were outstanding. Under the “if converted” method, debt issuance and interest costs, both net of tax, associated with the convertible notes are added back to net earnings and the share count is increased by the shares underlying the convertible notes. The 3.5% Convertible notes are included in the calculation of both approaches using the treasury stock method when the average stock price is greater than the applicable conversion price.
Stock-based compensation	Stock-based compensation - Restricted stock units and restricted stock awards are accounted for as equity based awards (see Note 16 – Equity). Phantom stock units are accounted for as liability based awards. Phantom Stock Units The Company began granting phantom stock units during the year ended August 31, 2016. Every phantom stock unit entitles the participant to receive a cash payment equal to the value of a single share of the Company’s common stock upon vesting. The holders of unvested phantom stock units are entitled to participate in dividend equivalents. There were no phantom stock units awarded during the years ended August 31, 2019 and 2018. During the year ended August 31, 2017, the Company awarded 151,634 phantom stock units which include performance-based grants. As of August 31, 2019, there were a total of 72,144 phantom stock units associated with unvested performance-based grants. The actual number of phantom stock units that will vest associated with performance-based phantom stock units will vary depending on the Company’s performance. An additional 72,144 phantom stock units, associated with awards granted in 2017, may be granted if performance-based phantom stock units vest at stretch levels of performance. The grant date fair value of phantom stock awards was $6.7 million for the year ended August 31, 2017. Our phantom stock unit grants are considered liability based awards and therefore are re-measured re-measurement
Management estimates	Management estimates
Reclassifications	Reclassifications
Initial Adoption of Accounting Policies	Initial Adoption of Accounting Policies Revenue Recognition In the first quarter of 2019, the Company adopted Accounting Standard Update 2014-09, Revenue from Contracts with Customers 2014-09). Restricted Cash In the first quarter of 2019, the Company adopted Accounting Standard Update 2016-18, Restricted Cash 2016-18). beginning-of-period end-of-period 2016-18
Prospective accounting changes	Prospective Accounting Changes Lease Accounting In February 2016, the FASB issued Accounting Standards Update 2016-02, Leases 2016-02). 2016-02 right-of-use 2016-02 2018-11, Leases The Company evaluated the transition and presentation approaches available as well as the impact of the new guidance on its consolidated financial statements and related disclosures, including the increase in the assets and liabilities on its balance sheet, and the impact on its current lease portfolio from both a lessor and lessee perspective. To facilitate this, the Company utilized a comprehensive approach to review its lease portfolio, as well as assessed system requirements and control implications. The new guidance provides a number of optional practical expedients in transition. The Company elected the “package of practical expedients,” which allows it not to reassess under the new guidance their prior conclusions about lease identification and initial direct costs. The Company did not elect the use-of-hindsight non-lease right-of-use The most significant effects of adoption relate to the recognition of a right-of-use right-of-use Derivatives and Hedging In August 2017, the FASB issued Accounting Standards Update 2017-12, Derivatives and Hedging: Targeted Improvements to Accounting for Hedging Activities 2017-12). non-financial Measurement of Credit Losses on Financial Instruments In June 2016, the FASB issued Accounting Standard Update 2016-13, Financial Instruments – Credit Losses 2016-13). off-balance
Foreign Exchange Contracts
Derivatives	Forward exchange contracts - non-performance.
Interest rate swap contracts
Derivatives	Interest rate instruments -

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Tables)	12 Months Ended
	Aug. 31, 2019
Allowance for Doubtful Accounts	Accounts receivable - As of August 31, (In thousands) 2019 2018 2017 Allowance for doubtful accounts Balance at beginning of period $ 2,701 $ 1,768 $ 2,215 Additions, net of reversals 773 938 370 Usage (1,311 ) (54 ) (891 ) Currency translation effect 13 49 74 Balance at end of period $ 2,176 $ 2,701 $ 1,768
Estimated Useful Lives	Depreciation is provided on the straight-line method over estimated useful lives which primarily are as follows: Depreciable Life Buildings and improvements 10 – 30 years Machinery and equipment 3 – 20 years Other 3 – 7 years
Components of Accumulated Other Comprehensive Loss, Net of Tax	Accumulated other comprehensive loss - (In thousands) Unrealized Gain (Loss) on Derivative Financial Instruments Foreign Currency Translation Adjustment Other Accumulated Other Comprehensive Loss Balance, August 31, 2018 $ (431 ) $ (21,506 ) $ (1,429 ) $ (23,366 ) Other comprehensive loss before reclassifications (10,264 ) (12,688 ) (351 ) $ (23,303 ) Amounts reclassified from accumulated other comprehensive loss 1,854 – – $ 1,854 Balance, August 31, 2019 $ (8,841 ) $ (34,194 ) $ (1,780 ) $ (44,815 )
Amounts Reclassified out of Accumulated Other Comprehensive Loss	The amounts reclassified out of Accumulated other comprehensive loss into the Consolidated Statements of Income, with the financial statement caption, were as follows: Year Ended August 31, Financial Statement Caption (In thousands) 2019 2018 (Gain) loss on derivative financial instruments: Foreign exchange contracts $ 1,794 $ (716 ) Revenue and Cost of revenue Interest rate swap contracts 545 298 Interest and foreign exchange 2,339 (418 ) Total before tax (485 ) 3 Tax benefit (expense) $ 1,854 $ (415 ) Net of tax
Interest and Foreign Exchange	Interest and foreign exchange - (In thousands) Years ended August 31, 2019 2018 2017 Interest and foreign exchange: Interest and other expense $ 32,260 $ 30,946 $ 23,519 Foreign exchange (gain) loss (1,348 ) (1,578 ) 673 $ 30,912 $ 29,368 $ 24,192

Revenue Recognition (Tables)

Revenue Recognition (Tables)	12 Months Ended
	Aug. 31, 2019
Summary of Contract Balances	The opening and closing balances of the Company’s contract balances are as follows: (in thousands) Balance sheet classification September 1, 2018 August 31, 2019 $ change Contract assets Inventories $ 7,228 $ 10,196 $ 2,968 Contract liabilities 1 Deferred revenue $ 41,250 $ 39,203 $ (2,047 ) 1 Contract liabilities balance includes deferred revenue within the scope of the new revenue standard.
Summary of Estimated Revenue Related to Performance Obligations Wholly or Partially Unsatisfied	The following table outlines estimated revenue related to performance obligations wholly or partially unsatisfied, that the Company anticipates will be recognized in future periods. (in millions) August 31, 2019 Revenue type : Manufacturing – Railcar sales $ 2,897.9 Manufacturing – Marine $ 100.2 Services $ 153.0 Other $ 42.1 Manufacturing – Railcars intended for syndication 1 $ 317.2 1 Not a performance obligation as defined in the new revenue standard and therefore not subject to audit

Acquisitions (Tables)

Acquisitions (Tables)	12 Months Ended
	Aug. 31, 2019
American Rail car Industries
Preliminary Allocation of Purchase Price Based on Fair Value of Net Assets Acquired	The preliminary purchase price of the net assets acquired from ARI was allocated as follows: (in thousands) Accounts receivable, net $ 28,257 Inventories 98,227 Property, plant and equipment, net 225,045 Investments in unconsolidated affiliates 40,314 Intangibles and other assets, net 36,785 Goodwill 56,816 Total assets acquired 485,444 Total liabilities assumed 67,174 Net assets acquired $ 418,270
Schedule of Identified Intangible Assets Assumed In the Acquisition	The identified intangible assets assumed in the acquisition were recognized as follows: (In thousands) Fair value Weighted average Trademarks and patents $ 19,500 9 Customer and supplier relationships 16,071 7 Identified intangible assets subject to amortization 35,571 Other identified intangible assets not subject to amortization 860 Total identified intangible assets $ 36,431
Schedule of Unaudited Pro Forma Financial Information	As of August 31, (In thousands, except per share amounts) 2019 2018 Revenue $ 3,462,255 $ 2,893,400 Net earnings attributable to Greenbrier $ 57,284 $ 137,399 Basic earnings per common share $ 1.76 $ 4.45 Diluted earnings per common share $ 1.73 $ 4.25
Greenbrier-Astra Rail
Preliminary Allocation of Purchase Price Based on Fair Value of Net Assets Acquired	The purchase price of the net assets acquired from Astra was allocated as follows: (in thousands) Cash and cash equivalents $ 6,562 Accounts receivable, net 10,984 Inventories 30,454 Property, plant and equipment, net 75,296 Intangibles and other assets, net 17,300 Goodwill 25,746 Total assets acquired 166,342 Accounts payable and accrued liabilities 17,879 Deferred income taxes 7,292 Deferred revenue 964 Notes payable, net 24,382 Total liabilities assumed 50,517 Net assets acquired $ 115,825

Inventories (Tables)

Inventories (Tables)	12 Months Ended
	Aug. 31, 2019
Components of Inventories	As of August 31, (In thousands) 2019 2018 Manufacturing supplies and raw materials $ 387,015 $ 274,938 Work-in-process 156,614 105,021 Finished goods 130,576 57,969 Excess and obsolete adjustment (9,512 ) (5,614 ) $ 664,693 $ 432,314
Inventory Valuation	As of August 31, (In thousands) 2019 2018 2017 Excess and obsolete adjustment Balance at beginning of period $ 5,614 $ 4,136 $ 3,257 Charge to cost of revenue 9,734 4,023 2,781 Disposition of inventory (5,651 ) (2,455 ) (2,003 ) Currency translation effect (185 ) (90 ) 101 Balance at end of period $ 9,512 $ 5,614 $ 4,136

Equipment on Operating Leases_2

Equipment on Operating Leases, net (Tables)	12 Months Ended
	Aug. 31, 2019
Operating leases of lessor	Aggregate minimum future amounts receivable under all non-cancelable operating leases and subleases are as follows: (In thousands) Year ending August 31, 2020 $ 23,490 2021 20,076 2022 17,949 2023 13,717 2024 9,450 Thereafter 5,583 $ 90,265

Property, Plant and Equipment_2

Property, Plant and Equipment, net (Tables)	12 Months Ended
	Aug. 31, 2019
Property, Plant and Equipment, Net	As of August 31, (In thousands) 2019 2018 Land and improvements $ 87,872 $ 84,432 Machinery and equipment 539,952 414,865 Buildings and improvements 338,639 202,973 Construction in progress 66,744 48,406 Other 90,822 68,452 1,124,029 819,128 Accumulated depreciation (406,056 ) (361,932 ) $ 717,973 $ 457,196

Investments In Unconsolidated_2

Investments In Unconsolidated Affiliates (Tables)	12 Months Ended
	Aug. 31, 2019
GBW Railcar Services LLC
Schedule of Summarized Financial Data	Summarized financial data for GBW is as follows: As of August 31, (In thousands) 2019 2018 Current assets $ 1,248 $ 8,531 Total assets $ 1,248 $ 8,531 Current liabilities $ 1,248 $ 23,283 Total liabilities $ 1,248 $ 23,283 Years ended August 31, (In thousands) 2019 2018 2017 Revenue $ 879 $ 238,033 $ 253,436 Margin $ (1,126 ) $ (6,047 ) $ (4,058 ) Net loss (1) $ (4,104 ) $ (51,679 ) $ (36,947 ) (1) In 2018 and 2017, GBW recorded a pre-tax
Greenbrier-Maxion
Schedule of Summarized Financial Data	Summarized financial data for Greenbrier-Maxion is as follows: As of August 31, (In thousands) 2019 2018 Current assets $ 39,768 $ 41,619 Total assets $ 85,167 $ 61,034 Current liabilities $ 62,541 $ 38,027 Total liabilities $ 74,261 $ 41,539 Years ended August 31, (In thousands) 2019 2018 2017 Revenue $ 99,547 $ 187,664 $ 228,510 Margin $ 2,017 $ 10,086 $ 24,372 Net income (loss) $ (9,144 ) $ (3,006 ) $ 1,378
Amsted-Maxion
Schedule of Summarized Financial Data	Summarized financial data for Amsted-Maxion is as follows: As of August 31, (In thousands) 2019 2018 Current assets $ 25,220 $ 21,463 Total assets $ 107,451 $ 111,589 Current liabilities $ 54,445 $ 27,981 Total liabilities $ 88,016 $ 83,407 Years ended August 31, (In thousands) 2019 2018 2017 Revenue $ 86,421 $ 96,490 $ 90,114 Margin $ 4,949 $ 8,001 $ 5,983 Net loss $ (9,268 ) $ (9,590 ) $ (20,114 )
Other Unconsolidated Affiliates
Schedule of Summarized Financial Data	Summarized financial information, shown as 100% of these other unconsolidated affiliates in aggregate are as follows: As of August 31, (In thousands) 2019 2018 Current assets $ 45,287 $ 32,168 Total assets $ 255,549 $ 239,535 Current liabilities $ 9,836 $ 3,647 Total liabilities $ 49,747 $ 52,852 Years ended August 31, (In thousands) 2019 2018 2017 Revenue $ 50,423 $ 25,549 $ 39,161 Margin $ 19,877 $ 11,360 $ 8,015 Net income $ 12,751 $ 6,988 $ 5,202

Goodwill (Tables)

Goodwill (Tables)	12 Months Ended
	Aug. 31, 2019
Schedule of Changes in Carrying Value of Goodwill	Changes in the carrying value of goodwill are as follows: (In thousands) Manufacturing Wheels, Repair & Parts Leasing & Services Total Balance August 31, 2018 $ 27,083 $ 51,128 $ – $ 78,211 Additions (1) 61,408 2,162 – 63,570 Translation (1,809 ) – – (1,809 ) Goodwill Impairment – (10,025 ) – (10,025 ) Balance August 31, 2019 $ 86,682 $ 43,265 $ – $ 129,947 (1) Additions to goodwill relate to purchase price adjustments for the GBW repair shop transaction (Wheels, Repair & Parts) and the Rayvag acquisition (Manufacturing) and the acquisition of ARI (Manufacturing). See Note 4 – Acquisitions. (In thousands) Goodwill Gross goodwill balance before accumulated goodwill impairment losses and other reductions $ 292,497 Accumulated goodwill impairment losses (138,234 ) Accumulated other reductions (24,316 ) Balance August 31, 2019 $ 129,947

Intangibles and Other Assets,_2

Intangibles and Other Assets, net (Tables)	12 Months Ended
	Aug. 31, 2019
Identifiable Intangible and Other Assets	The following table summarizes the Company’s identifiable intangible and other assets balance: As of August 31, (In thousands) 2019 2018 Intangible assets subject to amortization: Customer and supplier relationships $ 89,722 $ 73,601 Accumulated amortization (48,850 ) (44,656 ) Other intangibles 34,031 15,219 Accumulated amortization (6,908 ) (5,319 ) 67,995 38,845 Intangible assets not subject to amortization 5,450 5,115 Prepaid and other assets 15,749 18,935 Nonqualified savings plan investments 27,967 26,299 Debt issuance costs, net 4,568 1,824 Assets held for sale 3,650 3,650 $ 125,379 $ 94,668

Accounts Payable and Accrued _2

Accounts Payable and Accrued Liabilities (Tables)	12 Months Ended
	Aug. 31, 2019
Accounts Payable and Accrued Liabilities	As of August 31, (In thousands) 2019 2018 Trade payables $ 302,009 $ 226,405 Other accrued liabilities 108,939 86,175 Accrued payroll and related liabilities 106,669 105,111 Accrued warranty 46,678 27,395 Income taxes payable 4,065 4,771 $ 568,360 $ 449,857

Warranty Accrual (Tables)

Warranty Accrual (Tables)	12 Months Ended
	Aug. 31, 2019
Warranty Accrual	As of August 31, (In thousands) 2019 2018 2017 Balance at beginning of period $ 27,395 $ 20,737 $ 12,159 Charged to cost of revenue 5,014 12,323 6,872 Acquisition 23,895 – 3,526 Payments (8,594 ) (5,217 ) (2,649 ) Currency translation effect (1,032 ) (448 ) 829 Balance at end of period $ 46,678 $ 27,395 $ 20,737

Notes Payable, net (Tables)

Notes Payable, net (Tables)	12 Months Ended
	Aug. 31, 2019
Notes Payable, Net	As of August 31, (In thousands) 2019 2018 Term loans $ 521,544 $ 179,923 2.875% Convertible senior notes, due 2024 275,000 275,000 2.25% Convertible senior notes, due 2024 50,000 – Other notes payable 14,001 14,798 $ 860,545 $ 469,721 Debt discount and issuance costs (37,660 ) (33,516 ) $ 822,885 $ 436,205
Principal Payments on the Notes Payable	As of August 31, 2019 principal payments on the notes payable are expected as follows: (In thousands) Year ending August 31, 2020 $ 29,084 2021 30,921 2022 23,258 2023 22,907 2024 (1) 754,375 Thereafter – $ 860,545 (1) The repayment of the $275.0 million of Convertible senior notes due February 2024 and the $50.0 million of Convertible senior notes due July 2024 is assumed to occur at the scheduled maturity in 2024 instead of assuming an earlier conversion by the holders.

Derivative Instruments (Tables)

Derivative Instruments (Tables)	12 Months Ended
	Aug. 31, 2019
Fair Values of Derivative Instruments	Fair Values of Derivative Instruments Asset Derivatives Liability Derivatives August 31, August 31, 2019 2018 2019 2018 (In thousands) Balance sheet caption Fair Value Fair Value Balance sheet caption Fair Value Fair Value Derivatives designated as hedging instruments Foreign forward exchange contracts Accounts receivable, net $ 64 $ 700 Accounts payable and accrued liabilities $ 437 $ 1,211 Interest rate swap contracts Intangibles and other assets, net – 781 Accounts payable and accrued liabilities 10,255 1 $ 64 $ 1,481 $ 10,692 $ 1,212 Derivatives not designated as hedging instruments Foreign forward exchange contracts Accounts receivable, net $ – $ 76 Accounts payable and accrued liabilities $ 587 $ 354
Effect of Derivative Instruments on Consolidated Statements of Income	The Effect of Derivative Instruments on the Consolidated Statements of Income Derivatives in cash flow hedging relationships Financial statement caption of gain recognized in income on derivative Gain (loss) recognized in income on derivatives August 31, 2019 2018 Foreign forward exchange contract Interest and foreign exchange $ 213 $ 1,052 Interest rate swap contracts Interest and foreign exchange – (1 ) $ 213 $ 1,051 Derivatives in cash flow hedging relationships Gain (loss) recognized in OCI on derivatives (effective portion) Years ended August 31, Financial statement caption of gain (loss) reclassified from accumulated OCI into income Gain (loss) reclassified from accumulated OCI income (effective Years ended August 31, Financial statement caption of gain (loss) in income on derivative (ineffective portion and amount excluded from effectiveness testing) Gain (loss) recognized on derivative portion and amount excluded from effectiveness Years ended August 31, 2019 2018 2019 2018 2019 2018 Foreign forward exchange contracts $ (1,261 ) $ (658 ) Revenue $ (764 ) $ 1,145 Revenue $ 1,346 $ 854 Foreign forward exchange contracts (421 ) (1,093 ) Cost of revenue (1,030 ) (429 ) Cost of revenue 935 306 Interest rate swap contracts (11,582 ) 1,632 Interest and foreign exchange (545 ) (298 ) Interest and foreign exchange (587 ) – $ (13,264 ) $ (119 ) $ (2,339 ) $ 418 $ 1,694 $ 1,160

Equity (Tables)

Equity (Tables)	12 Months Ended
	Aug. 31, 2019
Summary of Restricted Stock Share and Restricted Stock Unit Grant Transactions for Shares, both Vested and Unvested	The following table summarizes restricted share and restricted stock unit grant transactions for shares, both vested and unvested, under the 2017 Amended and Restated Stock Incentive Plan: Shares Balance at August 31, 2016 (1) 3,848,230 Granted 269,705 Forfeited (26,206 ) Balance at August 31, 2017 (1) 4,091,729 Granted 317,036 Forfeited (34,440 ) Balance at August 31, 2018 (1) 4,374,325 Granted 313,540 Forfeited (112,387 ) Balance at August 31, 2019 (1) 4,575,478 (1) Balance represents cumulative grants net of forfeitures.

Earnings Per Share (Tables)

Earnings Per Share (Tables)	12 Months Ended
	Aug. 31, 2019
Reconciliation of Shares Used in Computation of Basic and Diluted Earnings Per Common Share	The shares used in the computation of the Company’s basic and diluted earnings per common share are reconciled as follows: Years ended August 31, (In thousands) 2019 2018 2017 Weighted average basic common shares outstanding (1) 32,615 30,857 29,225 Dilutive effect of 3.5% Convertible notes (2) n/a 1,821 3,295 Dilutive effect of 2.875% Convertible notes (3) – – – Dilutive effect of 2.25% Convertible notes (4) – n/a n/a Dilutive effect of restricted stock units (5) 550 157 42 Weighted average diluted common shares outstanding 33,165 32,835 32,562 (1) Restricted stock grants and restricted stock units that are considered participating securities, including some grants subject to certain performance criteria, are included in weighted average basic common shares outstanding when the Company is in a net earnings position. No restricted stock and restricted stock units were anti-dilutive for the years ended August 31, 2019, 2018 and 2017. (2) The dilutive effect of the 3.5% Convertible notes was included as they were considered dilutive under the “if converted” method as further discussed below for the years ended August 31, 2018 and 2017. The 3.5% (3) The 2.875% Convertible notes were issued in February 2017. The dilutive effect of the 2.875% (4) The 2.25% Convertible notes were issued in July 2019. The dilutive effect of the 2.25% Convertible notes was excluded for the year ended August 31, 2019 as the average stock price was less than the applicable conversion price and therefore was considered anti-dilutive. (5) Restricted stock units that are not considered participating securities and restricted stock units subject to performance criteria, for which actual levels of performance above target have been achieved, are included in weighted average diluted common shares outstanding when the Company is in a net earnings position.
Approach to Calculate Diluted Earning per Share	Years ended August 31, 2019 2018 2017 Net earnings attributable to Greenbrier $ 71,076 $ 151,781 $ 116,067 Add back: Interest and debt issuance costs on the 3.5% Convertible notes, net of tax n/a 2,031 2,932 Earnings before interest and debt issuance costs on the 3.5% Convertible notes $ 71,076 $ 153,812 $ 118,999 Weighted average diluted common shares outstanding 33,165 32,835 32,562 Diluted earnings per share (1) $ 2.14 $ 4.68 $ 3.65 (1) Diluted earnings per share was calculated as follows: Earnings before interest and debt issuance costs on the 3.5% Convertible notes Weighted average diluted common shares outstanding

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Aug. 31, 2019
Components of Income Tax Expense of Continuing Operations	Components of income tax expense were as follows: Years ended August 31, (In thousands) 2019 2018 2017 Current Federal $ 18,894 $ 28,357 $ 22,710 State 4,775 3,244 305 Foreign 37,391 38,628 35,893 61,060 70,229 58,908 Deferred Federal (8,559 ) (33,459 ) 9,418 State (2,542 ) (344 ) (1,467 ) Foreign (8,433 ) (3,690 ) (2,732 ) (19,534 ) (37,493 ) 5,219 Change in valuation allowance 62 157 (113 ) Income tax expense $ 41,588 $ 32,893 $ 64,014
Reconciliation Between Effective and Statutory Tax Rates on Operations	The reconciliation between effective and statutory tax rates on operations is as follows: Years ended August 31, 2019 2018 2017 Federal statutory rate 21.0 % 25.7 % 35.0 % State income taxes, net of federal benefit 1.3 0.8 0.1 Foreign operations, excluding transition tax 5.8 1.8 (3.4 ) Transition tax on foreign earnings 0.5 3.1 – Remeasurement of domestic deferred taxes – (15.0 ) – Change in valuation allowance – 0.1 – Noncontrolling interest in flow-through entity (5.7 ) (2.4 ) (6.0 ) Permanent differences and other 4.2 0.6 1.4 Effective tax rate 27.1 % 14.7 % 27.1 %
Tax Effects of Temporary Differences that give rise to Significant Portions of Deferred Tax Assets and Deferred Tax Liabilities	The tax effects of temporary differences that give rise to significant portions of deferred tax assets and deferred tax liabilities were as follows: As of August 31, (In thousands) 2019 2018 Deferred tax assets: Accrued payroll and related liabilities $ 21,978 $ 18,461 Deferred revenue 8,296 10,642 Inventories and other 15,392 10,518 Maintenance and warranty accruals 3,596 7,201 Net operating losses 3,182 2,002 Investment and asset tax credits 1,560 1,439 54,004 50,263 Deferred tax liabilities: Fixed assets 56,760 70,942 Original issue discount 6,253 6,099 Intangibles 2,813 2,474 Other 1,432 1,831 67,258 81,346 Valuation allowance 692 657 Net deferred tax liability $ 13,946 $ 31,740
Unrecognized Tax Benefits	The following is a tabular reconciliation of the total amounts of unrecognized tax benefits: Years ended August 31, (In thousands) 2019 2018 2017 Unrecognized Tax Benefit – Opening Balance $ 1,608 $ 1,820 $ 942 Gross increases – tax positions in prior period – 237 1,368 Gross decreases – tax positions in prior period (3 ) (449 ) (53 ) Settlements – – – Lapse of statute of limitations – – (437 ) Unrecognized Tax Benefit – Ending Balance $ 1,605 $ 1,608 $ 1,820

Segment Information (Tables)

Segment Information (Tables)	12 Months Ended
	Aug. 31, 2019
Results of Operations	For the year ended August 31, 2019: Revenue Earnings (loss) from operations External Intersegment Total External Intersegment Total Manufacturing $ 2,431,499 $ 97,086 $ 2,528,585 $ 217,583 $ 6,370 $ 223,953 Wheels, Repair & Parts 444,502 48,266 492,768 (2,941 ) 902 (2,039 ) Leasing & Services 157,590 28,240 185,830 64,763 25,527 90,290 Eliminations – (173,592 ) (173,592 ) – (32,799 ) (32,799 ) Corporate – – – (95,289 ) – (95,289 ) $ 3,033,591 $ – $ 3,033,591 $ 184,116 $ – $ 184,116 For the year ended August 31, 2018: Revenue Earnings (loss) from operations External Intersegment Total External Intersegment Total Manufacturing $ 2,044,586 $ 118,157 $ 2,162,743 $ 240,901 $ 17,721 $ 258,622 Wheels, Repair & Parts 347,023 41,494 388,517 16,731 2,748 19,479 Leasing & Services 127,855 11,847 139,702 88,481 10,296 98,777 Eliminations – (171,498 ) (171,498 ) – (30,765 ) (30,765 ) Corporate – – – (93,128 ) – (93,128 ) $ 2,519,464 $ – $ 2,519,464 $ 252,985 $ – $ 252,985 For the year ended August 31, 2017: Revenue Earnings (loss) from operations External Intersegment Total External Intersegment Total Manufacturing $ 1,725,188 $ 19,291 $ 1,744,479 $ 295,334 $ 1,022 $ 296,356 Wheels, Repair & Parts 312,679 30,861 343,540 14,984 2,303 17,287 Leasing & Services 131,297 11,812 143,109 31,904 11,099 43,003 Eliminations – (61,964 ) (61,964 ) – (14,424 ) (14,424 ) Corporate – – – (81,790 ) – (81,790 ) $ 2,169,164 $ – $ 2,169,164 $ 260,432 $ – $ 260,432 Years ended August 31, (In thousands) 2019 2018 2017 Assets: Manufacturing $ 1,606,571 $ 1,020,757 $ 914,450 Wheels, Repair & Parts 306,725 306,756 236,315 Leasing & Services 708,799 578,818 535,323 Unallocated 368,542 559,133 711,617 $ 2,990,637 $ 2,465,464 $ 2,397,705 Depreciation and amortization: Manufacturing $ 49,240 $ 44,225 $ 33,807 Wheels, Repair & Parts 13,024 10,771 11,143 Leasing & Services 21,467 19,360 20,179 $ 83,731 $ 74,356 $ 65,129 Capital expenditures: Manufacturing $ 85,155 $ 59,707 $ 54,973 Wheels, Repair & Parts 13,291 5,204 3,129 Leasing & Services 99,787 111,937 27,963 $ 198,233 $ 176,848 $ 86,065
Summary of Selected Geographic Information	The following table summarizes selected geographic information. Years ended August 31, (In thousands) 2019 2018 2017 Revenue (1) U.S. $ 2,115,934 $ 1,840,877 $ 1,674,517 Foreign 917,657 678,587 494,647 $ 3,033,591 $ 2,519,464 $ 2,169,164 Assets: U.S. $ 2,110,864 $ 1,677,144 $ 1,307,239 Mexico 628,511 517,543 791,974 Europe 251,262 270,777 298,492 $ 2,990,637 $ 2,465,464 $ 2,397,705 (1) Revenue is presented on the basis of geographic location of customers.
Reconciliation of Earnings from Operations to Earnings Before Income Tax and Earnings (Loss) from Unconsolidated Affiliates	Reconciliation of Earnings from operations to Earnings before income tax and loss from unconsolidated affiliates: Years ended August 31, (In thousands) 2019 2018 2017 Earnings from operations $ 184,116 $ 252,985 $ 260,432 Interest and foreign exchange 30,912 29,368 24,192 Earnings before income tax and loss from unconsolidated affiliates $ 153,204 $ 223,617 $ 236,240

Lease Commitments (Tables)

Lease Commitments (Tables)	12 Months Ended
	Aug. 31, 2019
Railcar Equipment
Aggregate Minimum Future Amounts Payable Under Non-Cancelable Operating Leases	Aggregate minimum future amounts payable under these non-cancelable (In thousands) Year ending August 31, 2020 $ 6,200 2021 2,965 2022 1,762 2023 1,762 2024 1,413 Thereafter 376 $ 14,478
Domestic railcar repair facilities, office space and certain manufacturing and office equipment
Aggregate Minimum Future Amounts Payable Under Non-Cancelable Operating Leases	Aggregate minimum future amounts payable under these non-cancelable (In thousands) Year ending August 31, 2020 $ 8,099 2021 5,781 2022 3,965 2023 3,395 2024 2,109 Thereafter 9,821 $ 33,170

Fair Value of Financial Instr_2

Fair Value of Financial Instruments (Tables)	12 Months Ended
	Aug. 31, 2019
Estimated Fair Values of Financial Instruments and Methods and Assumptions Used	The estimated fair values of financial instruments and the methods and assumptions used to estimate such fair values are as follows: (In thousands) Carrying Amount 1 Estimated Fair Value (Level 2) Notes payable as of August 31, 2019 $ 860,545 $ 838,728 Notes payable as of August 31, 2018 $ 469,721 $ 517,925 1 Carrying amount disclosed in this table excludes debt discount and debt issuance costs.

Fair Value Measures (Tables)

Fair Value Measures (Tables)	12 Months Ended
	Aug. 31, 2019
Assets and Liabilities Measured at Fair Value on Recurring Basis	Assets and liabilities measured at fair value on a recurring basis as of August 31, 2019 are: (In thousands) Total Level 1 Level 2 (1) Level 3 Assets: Derivative financial instruments $ 64 $ – $ 64 $ – Nonqualified savings plan investments 27,967 27,967 – – Cash equivalents 68,100 68,100 – – $ 96,131 $ 96,067 $ 64 $ – Liabilities: Derivative financial instruments $ 11,279 $ – $ 11,279 $ – (1) Level 2 assets include derivative financial instruments which are valued based on significant observable inputs. See Note 15—Derivative Instruments for further discussion. Assets and liabilities measured at fair value on a recurring basis as of August 31, 2018 are: (In thousands) Total Level 1 Level 2 (1) Level 3 Assets: Derivative financial instruments $ 1,557 $ – $ 1,557 $ – Nonqualified savings plan investments 26,299 26,299 – – Cash equivalents 126,430 126,430 – – $ 154,286 $ 152,729 $ 1,557 $ – Liabilities: Derivative financial instruments $ 1,566 $ – $ 1,566 $ –

Quarterly Results of Operatio_2

Quarterly Results of Operations (Unaudited) (Tables)	12 Months Ended
	Aug. 31, 2019
Quarterly Financial Data	Quarterly Results of Operations (Unaudited) (In thousands, except per share amount) First Second Third Fourth Total 2019 Revenue Manufacturing $ 471,789 $ 476,019 $ 681,588 $ 802,103 $ 2,431,499 Wheels, Repair & Parts 108,543 125,278 124,980 85,701 444,502 Leasing & Services 24,191 57,374 49,584 26,441 157,590 604,523 658,671 856,152 914,245 3,033,591 Cost of revenue Manufacturing 417,805 442,996 590,788 686,036 2,137,625 Wheels, Repair & Parts 100,978 118,455 119,821 81,636 420,890 Leasing & Services 13,207 43,376 38,971 13,036 108,590 531,990 604,827 749,580 780,708 2,667,105 Margin 72,533 53,844 106,572 133,537 366,486 Selling and administrative 50,432 47,892 54,377 60,607 213,308 Net gain on disposition of equipment (14,353 ) (12,102 ) (11,019 ) (3,489 ) (40,963 ) Goodwill impairment – – 10,025 – 10,025 Earnings from operations 36,454 18,054 53,189 76,419 184,116 Other costs Interest and foreign exchange 4,404 9,237 9,770 7,501 30,912 Earnings before income tax and earnings (loss) from unconsolidated affiliates 32,050 8,817 43,419 68,918 153,204 Income tax expense (9,135 ) (2,248 ) (13,008 ) (17,197 ) (41,588 ) Earnings (loss) from unconsolidated affiliates 467 (786 ) (4,564 ) (922 ) (5,805 ) Net earnings 23,382 5,783 25,847 50,799 105,811 Net earnings attributable to noncontrolling interest (5,426 ) (3,018 ) (10,599 ) (15,692 ) (34,735 ) Net earnings attributable to Greenbrier $ 17,956 $ 2,765 $ 15,248 $ 35,107 $ 71,076 Basic earnings per common share: (1) $ 0.55 $ 0.08 $ 0.47 $ 1.08 $ 2.18 Diluted earnings per common share: (1) $ 0.54 $ 0.08 $ 0.46 $ 1.06 $ 2.14 (1) Quarterly amounts do not total to the year to date amount as each period is calculated discretely. Diluted EPS is calculated by including the dilutive effect, using the treasury stock method, associated with shares underlying the 2.875% Convertible notes, 2.25% Convertible notes, restricted stock units that are not considered participating securities and performance based restricted stock units subject to performance criteria, for which actual levels of performance above target have been achieved. Quarterly Results of Operations (Unaudited) (In thousands, except per share amount) First Second Third Fourth Total 2018 Revenue Manufacturing $ 451,485 $ 511,827 $ 510,099 $ 571,175 $ 2,044,586 Wheels, Repair & Parts 78,011 88,710 94,515 85,787 347,023 Leasing & Services 30,039 28,799 36,773 32,244 127,855 559,535 629,336 641,387 689,206 2,519,464 Cost of revenue Manufacturing 380,850 429,165 427,875 489,517 1,727,407 Wheels, Repair & Parts 72,506 80,708 85,850 79,266 318,330 Leasing & Services 16,865 14,116 19,155 14,536 64,672 470,221 523,989 532,880 583,319 2,110,409 Margin 89,314 105,347 108,507 105,887 409,055 Selling and administrative 47,043 50,294 51,793 51,309 200,439 Net gain on disposition of equipment (19,171 ) (5,817 ) (14,825 ) (4,556 ) (44,369 ) Earnings from operations 61,442 60,870 71,539 59,134 252,985 Other costs Interest and foreign exchange 7,020 7,029 6,533 8,786 29,368 Earnings before income tax and earnings (loss) from unconsolidated affiliates 54,422 53,841 65,006 50,348 223,617 Income tax benefit (expense) (18,135 ) 11,301 (15,944 ) (10,115 ) (32,893 ) Earnings (loss) from unconsolidated affiliates (2,910 ) 147 (12,823 ) (3,075 ) (18,661 ) Net earnings 33,377 65,289 36,239 37,158 172,063 Net earnings attributable to noncontrolling interest (7,124 ) (3,647 ) (3,288 ) (6,223 ) (20,282 ) Net earnings attributable to Greenbrier $ 26,253 $ 61,642 $ 32,951 $ 30,935 $ 151,781 Basic earnings per common share: (1) $ 0.90 $ 2.10 $ 1.03 $ 0.95 $ 4.92 Diluted earnings per common share: (1) $ 0.83 $ 1.91 $ 1.01 $ 0.94 $ 4.68 (1) Quarterly amounts do not total to the year to date amount as each period is calculated discretely. Diluted EPS is calculated using the more dilutive of two approaches. The first approach includes the dilutive effect, using the treasury stock method, associated with shares underlying the 2.875% Convertible notes, restricted stock units that are not considered participating securities and performance based restricted stock units subject to performance criteria, for which actual levels of performance above target have been achieved. The second approach supplements the first by including the “if converted” effect of the 3.5% Convertible notes during the periods in which they were outstanding. Under the “if converted” method, debt issuance and interest costs, both net of tax, associated with the convertible notes are added back to net earnings and the share count is increased by the shares underlying the convertible notes. The 3.5% Convertible notes are included in the calculation of both approaches using the treasury stock method when the average stock price is greater than the applicable conversion price.

Nature of Operations - Addition

Nature of Operations - Additional Information (Detail)	Aug. 20, 2018Segment	Aug. 19, 2018Segment	Aug. 31, 2019SegmentVehicle
Number of reportable segments | Segment	3	4	3
Leasing & Services
Number of railcars owned			9,400
Number of railcars that get services			380,000

Summary of Significant Accoun_4

Summary of Significant Accounting Policies - Additional Information (Detail) - USD ($) $ in Thousands	Sep. 01, 2019	Sep. 01, 2018	Aug. 31, 2019	Aug. 31, 2018	Aug. 31, 2017	Aug. 02, 2018	Jun. 30, 2017	Jun. 01, 2017	Aug. 31, 2016
Summary Of Significant Accounting Policies [Line Items]
Net foreign currency translation adjustment			$ 34,200	$ 21,500	$ 5,400
Allowance for doubtful accounts			2,176	2,701	1,768				$ 2,215
Leased railcars for syndication			$ 182,269	130,926
Property, Plant and Equipment useful life			35 years
Percentage of revenue and gross margin			40.00%
Retained risk threshold percentage			90.00%
Research and development			$ 5,400	6,000	4,200
Stock based compensation expense			$ 11,153	$ 29,314	$ 26,427
Performance based share based compensation			313,540	317,036	269,705
Share based compensation, non vested shares			397,260
Unamortized share based compensation			$ 15,000
Leasing & Services
Summary Of Significant Accounting Policies [Line Items]
Threshold limit of retained earnings			10.00%
Description of retained risk			The Company applies a 10​​​​​​​% threshold to determine whether the level of retained risk exceeds 10% of the individual fair value of the rail cars delivered. If retained risk exceeded 10%, the transaction would not be recognized as a sale until such time as the retained risk declined to 10% or less.
2.875% Convertible Senior Notes
Summary Of Significant Accounting Policies [Line Items]
Debt instrument, interest rate			2.875%
2.25% Convertible Senior Notes
Summary Of Significant Accounting Policies [Line Items]
Debt instrument, interest rate			2.25%
3.5% Convertible Senior Notes
Summary Of Significant Accounting Policies [Line Items]
Debt instrument, interest rate			3.50%
Subsequent Event [Member] | Deferred Gains Recognised as Earnings
Summary Of Significant Accounting Policies [Line Items]
New accounting pronouncement or change in accounting principle cumulative effect of change in equity or net assets	$ 5,000
Subsequent Event [Member] | Leased Railcars
Summary Of Significant Accounting Policies [Line Items]
Liabilities to be derecognised	9,000
Subsequent Event [Member] | Deferred Revenue
Summary Of Significant Accounting Policies [Line Items]
Liabilities to be derecognised	13,000
GIMSA
Summary Of Significant Accounting Policies [Line Items]
Interest in joint venture			50.00%
Rayvag
Summary Of Significant Accounting Policies [Line Items]
Interest in joint venture			68.00%			68.00%
Summit Railroad Products, Inc
Summary Of Significant Accounting Policies [Line Items]
Interest in joint venture			50.00%
Greenbrier-Astra Rail
Summary Of Significant Accounting Policies [Line Items]
Interest in joint venture			50.00%					25.00%
Ownership percentage by parent				75.00%				75.00%
Accounting Standards Update 2014-09
Summary Of Significant Accounting Policies [Line Items]
Increase to retained earnings		$ 5,500
Accounting Standards Update 2016-02 | Minimum | Subsequent Event [Member]
Summary Of Significant Accounting Policies [Line Items]
Operating lease right of use asset	40,000
Operating lease liability	40,000
Accounting Standards Update 2016-02 | Maximum | Subsequent Event [Member]
Summary Of Significant Accounting Policies [Line Items]
Operating lease right of use asset	45,000
Operating lease liability	$ 45,000
Phantom Stock Units (PSUs)
Summary Of Significant Accounting Policies [Line Items]
Performance based share based compensation					151,634
Share based compensation, non vested shares			72,144
Additional shares available for grant if performance-based phantom stock units vest at stretch level of performance					72,144
Share based compensation, fair value of phantom stock					$ 6,700
Stock compensation expenses			$ (1,200)	$ 12,100	6,200
Unamortized share based compensation			$ 300	$ 5,900	$ 10,900
Greenbrier
Summary Of Significant Accounting Policies [Line Items]
Percentage of ownership in entity			40.00%				40.00%
Upfront Fee [Member]
Summary Of Significant Accounting Policies [Line Items]
Unrecognized deferred revenue			$ 40,000
Customer Relationships | Maximum
Summary Of Significant Accounting Policies [Line Items]
Estimated useful lives			20 years

Summary of Significant Accoun_5

Summary of Significant Accounting Policies - Allowance for Doubtful Accounts (Detail) - USD ($) $ in Thousands	12 Months Ended
	Aug. 31, 2019	Aug. 31, 2018	Aug. 31, 2017
Allowance for doubtful accounts
Balance at beginning of period	$ 2,701	$ 1,768	$ 2,215
Additions, net of reversals	773	938	370
Usage	(1,311)	(54)	(891)
Currency translation effect	13	49	74
Balance at end of period	$ 2,176	$ 2,701	$ 1,768

Summary of Significant Accoun_6

Summary of Significant Accounting Policies - Estimated Useful Lives (Detail)	12 Months Ended
	Aug. 31, 2019
Property Plant and Equipment Estimated Useful Lives [Line Items]
Property, Plant and Equipment useful life	35 years
Building and improvements | Minimum
Property Plant and Equipment Estimated Useful Lives [Line Items]
Property, Plant and Equipment useful life	10 years
Building and improvements | Maximum
Property Plant and Equipment Estimated Useful Lives [Line Items]
Property, Plant and Equipment useful life	30 years
Machinery and Equipment | Minimum
Property Plant and Equipment Estimated Useful Lives [Line Items]
Property, Plant and Equipment useful life	3 years
Machinery and Equipment | Maximum
Property Plant and Equipment Estimated Useful Lives [Line Items]
Property, Plant and Equipment useful life	20 years
Other | Minimum
Property Plant and Equipment Estimated Useful Lives [Line Items]
Property, Plant and Equipment useful life	3 years
Other | Maximum
Property Plant and Equipment Estimated Useful Lives [Line Items]
Property, Plant and Equipment useful life	7 years

Summary of Significant Accoun_7

Summary of Significant Accounting Policies - Components of Accumulated Other Comprehensive Loss, Net of Tax (Detail) $ in Thousands	12 Months Ended
	Aug. 31, 2019USD ($)
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning balance	$ 1,250,101
Other comprehensive loss before reclassifications	(23,303)
Amounts reclassified from accumulated other comprehensive loss	1,854
Ending balance	1,276,730
Accumulated Other Comprehensive Income (Loss)
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning balance	(23,366)
Ending balance	(44,815)
Unrealized (Gain) Loss on Derivative Financial Instruments
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning balance	(431)
Other comprehensive loss before reclassifications	(10,264)
Amounts reclassified from accumulated other comprehensive loss	1,854
Ending balance	(8,841)
Foreign Currency Translation Adjustment
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning balance	(21,506)
Other comprehensive loss before reclassifications	(12,688)
Ending balance	(34,194)
Other
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning balance	(1,429)
Other comprehensive loss before reclassifications	(351)
Ending balance	$ (1,780)

Summary of Significant Accoun_8

Summary of Significant Accounting Policies - Amounts Reclassified out of Accumulated Other Comprehensive Loss (Detail) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Aug. 31, 2019	May 31, 2019	Feb. 28, 2019	Nov. 30, 2018	Aug. 31, 2018	May 31, 2018	Feb. 28, 2018	Nov. 30, 2017	Aug. 31, 2019	Aug. 31, 2018	Aug. 31, 2017
Reclassification Adjustment out of Accumulated Other Comprehensive Income on Derivatives [Line Items]
Interest and foreign exchange	$ 7,501	$ 9,770	$ 9,237	$ 4,404	$ 8,786	$ 6,533	$ 7,029	$ 7,020	$ 30,912	$ 29,368	$ 24,192
Total before tax	(68,918)	(43,419)	(8,817)	(32,050)	(50,348)	(65,006)	(53,841)	(54,422)	(153,204)	(223,617)	(236,240)
Tax benefit (expense)	$ 17,197	$ 13,008	$ 2,248	$ 9,135	$ 10,115	$ 15,944	$ (11,301)	$ 18,135	41,588	32,893	$ 64,014
Unrealized (Gain) Loss on Derivative Financial Instruments | Reclassification out of Accumulated Other Comprehensive loss
Reclassification Adjustment out of Accumulated Other Comprehensive Income on Derivatives [Line Items]
Total before tax									2,339	(418)
Tax benefit (expense)									(485)	3
Net of tax									1,854	(415)
Unrealized (Gain) Loss on Derivative Financial Instruments | Reclassification out of Accumulated Other Comprehensive loss | Foreign Exchange Contracts
Reclassification Adjustment out of Accumulated Other Comprehensive Income on Derivatives [Line Items]
Revenue And Cost Of Revenue									1,794	(716)
Unrealized (Gain) Loss on Derivative Financial Instruments | Reclassification out of Accumulated Other Comprehensive loss | Interest rate swap contracts
Reclassification Adjustment out of Accumulated Other Comprehensive Income on Derivatives [Line Items]
Interest and foreign exchange									$ 545	$ 298

Summary of Significant Accoun_9

Summary of Significant Accounting Policies - Interest and Foreign Exchange (Detail) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Aug. 31, 2019	May 31, 2019	Feb. 28, 2019	Nov. 30, 2018	Aug. 31, 2018	May 31, 2018	Feb. 28, 2018	Nov. 30, 2017	Aug. 31, 2019	Aug. 31, 2018	Aug. 31, 2017
Interest Expense [Line Items]
Interest and other expense									$ 32,260	$ 30,946	$ 23,519
Foreign exchange (gain) loss									(1,348)	(1,578)	673
Interest and foreign exchange	$ 7,501	$ 9,770	$ 9,237	$ 4,404	$ 8,786	$ 6,533	$ 7,029	$ 7,020	$ 30,912	$ 29,368	$ 24,192

Revenue Recognition - Additiona

Revenue Recognition - Additional information (Detail) $ in Millions	12 Months Ended
	Aug. 31, 2019USD ($)
Revenue From Contract With Customers [Line Items]
Revenue recognized from contract with customers liability	$ 11.3
Railcar sales
Revenue From Contract With Customers [Line Items]
Expected revenue recognized in the reminder of fiscal year	1,900
Services
Revenue From Contract With Customers [Line Items]
Expected revenue recognized in the reminder of fiscal year	$ 153
Expected performance percentage	51.00%

Revenue Recognition - Summary o

Revenue Recognition - Summary of Contract Balances (Detail) - USD ($) $ in Thousands		12 Months Ended
		Aug. 31, 2019	Sep. 01, 2018
Contract with Customer Asset and Liability [Line Items]
Change in contract assets		$ 2,968
Change in contract liabilities	[1]	(2,047)
Contract assets		10,196	$ 7,228
Contract liabilities	[1]	$ 39,203	$ 41,250
[1]	Contract liabilities balance includes deferred revenue within the scope of the new revenue standard.

Revenue Recognition - Summary_2

Revenue Recognition - Summary of Estimated Revenue Related to Performance Obligations (Detail) $ in Millions	Aug. 31, 2019USD ($)
Railcar sales
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue type	$ 1,900
Services
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue type	153
Other
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue type	42.1
Manufacturing | Railcar sales
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue type	2,897.9
Manufacturing | Marine
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue type	100.2
Manufacturing | Railcars intended for syndication
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue type	$ 317.2	[1]
[1]	Not a performance obligation as defined in the new revenue standard and therefore not subject to audit

Acquisitions - Additional Infor

Acquisitions - Additional Information (Detail) $ in Thousands, € in Millions	Jul. 26, 2019USD ($)	Jun. 01, 2018EUR (€)	Jun. 01, 2017EUR (€)	Aug. 31, 2019USD ($)	May 31, 2019USD ($)	Feb. 28, 2019USD ($)	Nov. 30, 2018USD ($)	Aug. 31, 2018USD ($)	May 31, 2018USD ($)	Feb. 28, 2018USD ($)	Nov. 30, 2017USD ($)	Aug. 31, 2019USD ($)	Aug. 31, 2018USD ($)	Aug. 31, 2017USD ($)	Aug. 20, 2018USD ($)	Aug. 02, 2018	Jun. 01, 2017USD ($)
Business Acquisition [Line Items]
Revenue				$ 914,245	$ 856,152	$ 658,671	$ 604,523	$ 689,206	$ 641,387	$ 629,336	$ 559,535	$ 3,033,591	$ 2,519,464	$ 2,169,164
Earnings (loss) from operations				76,419	53,189	18,054	36,454	59,134	71,539	60,870	61,442	184,116	252,985	260,432
Net assets acquired															$ 57,600
Goodwill impairment												10,025
2024 Convertible Senior Notes
Business Acquisition [Line Items]
Senior term debt				300,000								300,000
2.25% Convertible senior notes, due 2024
Business Acquisition [Line Items]
Convertible senior notes				50,000								50,000
Wheels, Repair & Parts
Business Acquisition [Line Items]
Revenue				85,701	124,980	125,278	108,543	85,787	94,515	88,710	78,011	444,502	347,023	312,679
Earnings (loss) from operations												(2,941)	16,731	14,984
Goodwill impairment												10,025
Manufacturing
Business Acquisition [Line Items]
Revenue				802,103	$ 681,588	$ 476,019	$ 471,789	$ 571,175	$ 510,099	$ 511,827	$ 451,485	2,431,499	2,044,586	1,725,188
Earnings (loss) from operations												217,583	240,901	$ 295,334
Repair Operations | Wheels, Repair & Parts
Business Acquisition [Line Items]
Revenue												87,500
Earnings (loss) from operations												(24,900)
Goodwill impairment												10,000
American Railcar Industries
Business Acquisition [Line Items]
Business combination estimated gross purchase price	$ 418,300
Business combination consideration transferred for capital expenditures	$ 8,000
Business combination description of voting rights acquired	we did not acquire 100% of ARI
American Railcar Industries | 2024 Convertible Senior Notes
Business Acquisition [Line Items]
Proceeds from the issuance of the notes												300,000
Senior term debt				300,000								300,000
American Railcar Industries | 2.25% Convertible senior notes, due 2024
Business Acquisition [Line Items]
Proceeds from the issuance of the notes												50,000
Convertible senior notes				$ 50,000								50,000
American Railcar Industries | Manufacturing
Business Acquisition [Line Items]
Revenue												43,000
Earnings (loss) from operations												$ (1,600)
Rayvag
Business Acquisition [Line Items]
Ownership interest in entity				68.00%								68.00%				68.00%
Greenbrier-Astra Rail
Business Acquisition [Line Items]
Revenue												$ 150,300	136,800
Earnings (loss) from operations												$ (19,400)	$ (11,500)
Net assets acquired																	$ 115,800
Ownership interest in entity				50.00%								50.00%					25.00%
Amount of consideration paid | € | €		€ 30	€ 30
Noncontrolling interest, fair value of acquisition																	$ 38,300
Ownership percentage by parent								75.00%					75.00%				75.00%

Acquisitions - Preliminary Purc

Acquisitions - Preliminary Purchase Price Of Net Asset (Detail) - USD ($) $ in Thousands	Aug. 31, 2019	Aug. 31, 2018	Aug. 20, 2018
Business Acquisition [Line Items]
Goodwill	$ 129,947	$ 78,211
Net assets acquired			$ 57,600
American Rail car Industries
Business Acquisition [Line Items]
Accounts receivable, net	28,257
Inventories	98,227
Property, plant and equipment, net	225,045
Investments in unconsolidated affiliates	40,314
Intangibles and other assets, net	36,785
Goodwill	56,816
Total assets acquired	485,444
Total liabilities assumed	67,174
Net assets acquired	$ 418,270

Acquisitions - Identified Inta

Acquisitions - Identified Intangible Assets (Detail) - American Railcar Industries $ in Thousands	12 Months Ended
	Aug. 31, 2019USD ($)
Business Acquisition [Line Items]
Identified intangible assets subject to amortization	$ 35,571
Other identified intangible assets not subject to amortization	860
Total identified intangible assets	36,431
Trademarks and patents
Business Acquisition [Line Items]
Identified intangible assets subject to amortization	$ 19,500
Identified intangible assets subject to amortization,Useful Life	9 years
Customer and supplier relationships
Business Acquisition [Line Items]
Identified intangible assets subject to amortization	$ 16,071
Identified intangible assets subject to amortization,Useful Life	7 years

Acquisitions - Unaudited Pro Fo

Acquisitions - Unaudited Pro Forma Financial Information (Detail) - American Railcar Industries [Member] - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Aug. 31, 2019	Aug. 31, 2018
Business Acquisition [Line Items]
Revenue	$ 3,462,255	$ 2,893,400
Net earnings attributable to Greenbrier	$ 57,284	$ 137,399
Basic earnings per common share	$ 1.76	$ 4.45
Diluted earnings per common share	$ 1.73	$ 4.25

Acquisitions - Purchase Price o

Acquisitions - Purchase Price of Net Assets Acquired (Detail) - USD ($) $ in Thousands	Aug. 31, 2019	Aug. 31, 2018	Aug. 20, 2018	Jun. 01, 2017
Business Acquisition [Line Items]
Goodwill	$ 129,947	$ 78,211
Net assets acquired			$ 57,600
Greenbrier-Astra Rail
Business Acquisition [Line Items]
Cash and cash equivalents				$ 6,562
Accounts receivable, net				10,984
Inventories				30,454
Property, plant and equipment, net				75,296
Intangibles and other assets, net				17,300
Goodwill				25,746
Total assets acquired				166,342
Accounts payable and accrued liabilities				17,879
Deferred income taxes				7,292
Deferred revenue				964
Notes payable, net				24,382
Total liabilities assumed				50,517
Net assets acquired				$ 115,825

Inventories - Components of Inv

Inventories - Components of Inventories (Detail) - USD ($) $ in Thousands	Aug. 31, 2019	Aug. 31, 2018
Inventory [Line Items]
Manufacturing supplies and raw materials	$ 387,015	$ 274,938
Work-in-process	156,614	105,021
Finished goods	130,576	57,969
Excess and obsolete adjustment	(9,512)	(5,614)
Inventories	$ 664,693	$ 432,314

Inventories - Inventory Valuati

Inventories - Inventory Valuation (Detail) - USD ($) $ in Thousands	12 Months Ended
	Aug. 31, 2019	Aug. 31, 2018	Aug. 31, 2017
SEC Schedule, 12-09, Valuation and Qualifying Accounts Disclosure [Line Items]
Balance at beginning of period	$ 5,614
Balance at end of period	9,512	$ 5,614
Inventory Valuation Reserve
SEC Schedule, 12-09, Valuation and Qualifying Accounts Disclosure [Line Items]
Balance at beginning of period	5,614	4,136	$ 3,257
Charge to cost of revenue	9,734	4,023	2,781
Disposition of inventory	(5,651)	(2,455)	(2,003)
Currency translation effect	(185)	(90)	101
Balance at end of period	$ 9,512	$ 5,614	$ 4,136

Equipment on Operating Leases_3

Equipment on Operating Leases, Net - Additional Information (Detail) - USD ($) $ in Thousands	12 Months Ended
	Aug. 31, 2019	Aug. 31, 2018	Aug. 31, 2017
Property, Plant and Equipment [Line Items]
Accumulated depreciation	$ 406,056	$ 361,932
Depreciation expense	62,300	54,500	$ 45,500
Revenue associated with equipment hiring arrangements	14,000	12,800	13,000
Property Subject to Operating Lease
Property, Plant and Equipment [Line Items]
Accumulated depreciation	44,200	64,900
Depreciation expense	$ 13,300	$ 11,200	$ 12,100

Equipment on Operating Leases_4

Equipment on Operating Leases, Net - Aggregate Minimum Future Amounts Receivable Under All Non-Cancelable Operating Leases and Subleases (Detail) $ in Thousands	Aug. 31, 2019USD ($)
Future Minimum Payments Receivable [Line Items]
2020	$ 23,490
2021	20,076
2022	17,949
2023	13,717
2024	9,450
Thereafter	5,583
Operating Leases, Future Minimum Payments Receivable, Total	$ 90,265

Property, Plant and Equipment_3

Property, Plant and Equipment, Net - Property, Plant and Equipment, Net (Detail) - USD ($) $ in Thousands	Aug. 31, 2019	Aug. 31, 2018
Property, Plant and Equipment [Line Items]
Property plant and equipment	$ 1,124,029	$ 819,128
Accumulated depreciation	(406,056)	(361,932)
Property, plant and equipment, net	717,973	457,196
Land and improvements
Property, Plant and Equipment [Line Items]
Property plant and equipment	87,872	84,432
Machinery and Equipment
Property, Plant and Equipment [Line Items]
Property plant and equipment	539,952	414,865
Building and improvements
Property, Plant and Equipment [Line Items]
Property plant and equipment	338,639	202,973
Construction in Progress
Property, Plant and Equipment [Line Items]
Property plant and equipment	66,744	48,406
Other
Property, Plant and Equipment [Line Items]
Property plant and equipment	$ 90,822	$ 68,452

Property, Plant and Equipment_4

Property, Plant and Equipment, Net - Additional Information (Detail) - USD ($) $ in Millions	12 Months Ended
	Aug. 31, 2019	Aug. 31, 2018	Aug. 31, 2017
Property, Plant and Equipment [Line Items]
Depreciation expense	$ 62.3	$ 54.5	$ 45.5

Investments in Unconsolidated_3

Investments in Unconsolidated Affiliates - Additional Information (Detail) $ in Thousands	3 Months Ended								12 Months Ended
	Aug. 31, 2019USD ($)	May 31, 2019USD ($)	Feb. 28, 2019USD ($)	Nov. 30, 2018USD ($)	Aug. 31, 2018USD ($)	May 31, 2018USD ($)	Feb. 28, 2018USD ($)	Nov. 30, 2017USD ($)	Aug. 31, 2019USD ($)	Aug. 31, 2018USD ($)	Aug. 31, 2017USD ($)	Aug. 20, 2018
Investment [Line Items]
Payment for investment									$ 11,393	$ 26,455	$ 40,632
Earnings (loss) from other unconsolidated affiliates	$ (922)	$ (4,564)	$ (786)	$ 467	$ (3,075)	$ (12,823)	$ 147	$ (2,910)	$ (5,805)	$ (18,661)	$ (11,764)
Number of other unconsolidated affiliates									9
Amsted-Maxion
Investment [Line Items]
Ownership stake in a railcar manufacturer	40.00%								40.00%
Greenbrier-Maxion
Investment [Line Items]
Equity method investment, percentage of ownership interest	60.00%								60.00%
Payment for investment									$ 20,000
Amsted-Maxion
Investment [Line Items]
Equity method investment, percentage of ownership interest	24.50%								24.50%
Payment for investment									$ 3,250
Other Unconsolidated Affiliates
Investment [Line Items]
Earnings (loss) from other unconsolidated affiliates									$ 3,700
GBW Railcar Services LLC
Investment [Line Items]
Equity method investment, percentage of ownership interest	50.00%								50.00%			50.00%

Investments in Unconsolidated_4

Investments in Unconsolidated Affiliates - Schedule of Summarized Financial Data (Detail) - USD ($) $ in Thousands		3 Months Ended								12 Months Ended
		Aug. 31, 2019	May 31, 2019	Feb. 28, 2019	Nov. 30, 2018	Aug. 31, 2018	May 31, 2018	Feb. 28, 2018	Nov. 30, 2017	Aug. 31, 2019	Aug. 31, 2018	Aug. 31, 2017
Schedule of Equity Method Investments [Line Items]
Total assets		$ 2,990,637				$ 2,465,464				$ 2,990,637	$ 2,465,464	$ 2,397,705
Revenue		914,245	$ 856,152	$ 658,671	$ 604,523	689,206	$ 641,387	$ 629,336	$ 559,535	3,033,591	2,519,464	2,169,164
Margin		133,537	106,572	53,844	72,533	105,887	108,507	105,347	89,314	366,486	409,055	421,299
Net income (loss)		35,107	$ 15,248	$ 2,765	$ 17,956	30,935	$ 32,951	$ 61,642	$ 26,253	71,076	151,781	116,067
GBW Railcar Services LLC
Schedule of Equity Method Investments [Line Items]
Current assets		1,248				8,531				1,248	8,531
Total assets		1,248				8,531				1,248	8,531
Current liabilities		1,248				23,283				1,248	23,283
Total liabilities		1,248				23,283				1,248	23,283
Revenue										879	238,033	253,436
Margin										(1,126)	(6,047)	(4,058)
Net income (loss)	[1]									(4,104)	(51,679)	(36,947)
Greenbrier-Maxion
Schedule of Equity Method Investments [Line Items]
Current assets		39,768				41,619				39,768	41,619
Total assets		85,167				61,034				85,167	61,034
Current liabilities		62,541				38,027				62,541	38,027
Total liabilities		74,261				41,539				74,261	41,539
Revenue										99,547	187,664	228,510
Margin										2,017	10,086	24,372
Net income (loss)										(9,144)	(3,006)	1,378
Amsted-Maxion
Schedule of Equity Method Investments [Line Items]
Current assets		25,220				21,463				25,220	21,463
Total assets		107,451				111,589				107,451	111,589
Current liabilities		54,445				27,981				54,445	27,981
Total liabilities		88,016				83,407				88,016	83,407
Revenue										86,421	96,490	90,114
Margin										4,949	8,001	5,983
Net income (loss)										(9,268)	(9,590)	(20,114)
Other Unconsolidated Affiliates
Schedule of Equity Method Investments [Line Items]
Current assets		45,287				32,168				45,287	32,168
Total assets		255,549				239,535				255,549	239,535
Current liabilities		9,836				3,647				9,836	3,647
Total liabilities		$ 49,747				$ 52,852				49,747	52,852
Revenue										50,423	25,549	39,161
Margin										19,877	11,360	8,015
Net income (loss)										$ 12,751	$ 6,988	$ 5,202
[1]	In 2018 and 2017, GBW recorded a pre-tax goodwill impairment loss of $26.4 million and $11.2 million, respectively.

Investments in Unconsolidated_5

Investments in Unconsolidated Affiliates - Schedule of Summarized Financial Data (Parenthetical) (Detail) - USD ($) $ in Thousands	12 Months Ended
	Aug. 31, 2019	Aug. 31, 2018	Aug. 31, 2017
Schedule of Equity Method Investments [Line Items]
Pre-tax goodwill impairment loss	$ 10,025
GBW Railcar Services LLC
Schedule of Equity Method Investments [Line Items]
Pre-tax goodwill impairment loss		$ 26,400	$ 11,200

Goodwill - Schedule of Changes

Goodwill - Schedule of Changes in Carrying Value of Goodwill (Detail) $ in Thousands	12 Months Ended
	Aug. 31, 2019USD ($)
Goodwill [Line Items]
Beginning balance	$ 78,211
Addition	63,570	[1]
Translation	(1,809)
Goodwill impairment	(10,025)
Ending balance	129,947
Gross goodwill balance before accumulated goodwill impairment losses and other reductions	292,497
Accumulated goodwill impairment losses	(138,234)
Accumulated other reductions	(24,316)
Manufacturing
Goodwill [Line Items]
Beginning balance	27,083
Addition	61,408	[1]
Translation	(1,809)
Ending balance	86,682
Wheels, Repair & Parts
Goodwill [Line Items]
Beginning balance	51,128
Addition	2,162	[1]
Goodwill impairment	(10,025)
Ending balance	$ 43,265
[1]	Additions to goodwill relate to purchase price adjustments for the GBW repair shop transaction (Wheels, Repair & Parts) and the Rayvag acquisition (Manufacturing) and the acquisition of ARI (Manufacturing). See Note 4 – Acquisitions.

Goodwill - Additional Informati

Goodwill - Additional Information (Detail) $ in Thousands	12 Months Ended
	Aug. 31, 2019USD ($)
Goodwill impairment	$ 10,025

Intangibles and Other Assets,_3

Intangibles and Other Assets, Net - Identifiable Intangible and Other Assets (Detail) - USD ($) $ in Thousands	Aug. 31, 2019	Aug. 31, 2018
Intangibles and Other Assets by Major Class [Line Items]
Finite-Lived Intangible Assets, Net, Total	$ 67,995	$ 38,845
Intangible assets not subject to amortization	5,450	5,115
Prepaid and other assets	15,749	18,935
Nonqualified savings plan investments	27,967	26,299
Debt issuance costs, net	4,568	1,824
Assets held for sale	3,650	3,650
Total Intangible and other assets, net	125,379	94,668
Customer and supplier relationships
Intangibles and Other Assets by Major Class [Line Items]
Finite lived intangible assets gross	89,722	73,601
Accumulated amortization	(48,850)	(44,656)
Other Intangible Assets
Intangibles and Other Assets by Major Class [Line Items]
Finite lived intangible assets gross	34,031	15,219
Accumulated amortization	$ (6,908)	$ (5,319)

Intangibles and Other Assets,_4

Intangibles and Other Assets, Net - Additional Information (Detail) - USD ($) $ in Millions	12 Months Ended
	Aug. 31, 2019	Aug. 31, 2018	Aug. 31, 2017
Schedule of Intangible Assets Disclosure [Line Items]
Amortization expense	$ 6.3	$ 5.3	$ 4.8
Future amortization expense, 2020	10.9
Future amortization expense, 2021	10.9
Future amortization expense, 2022	7.6
Future amortization expense, 2023	6.3
Future amortization expense, 2024	$ 6.3

Revolving Notes - Additional In

Revolving Notes - Additional Information (Detail) $ in Millions	12 Months Ended
	Aug. 31, 2019USD ($)FacilityCreditFacility	Aug. 31, 2018USD ($)
Senior Secured Credit Facilities, Consisting of 3 Components
Line of Credit Facility [Line Items]
Number of senior secured credit facilities | Facility	3
Line of credit facility maximum capacity	$ 705.4
Letter of credit facility outstanding amount	24.4	$ 72.2
Revolving Line of Credit, 1st Component of Senior Secured Credit Facilities
Line of Credit Facility [Line Items]
Line of credit facility maximum capacity	$ 600
Line of credit maturity date	2024-06
Revolving Line of Credit, 1st Component of Senior Secured Credit Facilities | LIBOR
Line of Credit Facility [Line Items]
Debt instrument, percentage points added to the reference rate	1.50%
Revolving Line of Credit, 1st Component of Senior Secured Credit Facilities | Prime Rate
Line of Credit Facility [Line Items]
Debt instrument, percentage points added to the reference rate	0.50%
European Line of Credit, 2nd Component of Senior Secured Credit Facilities
Line of Credit Facility [Line Items]
Line of credit facility maximum capacity	$ 55.4
Letter of credit facility outstanding amount	$ 27.1	$ 27.7
European Line of Credit, 2nd Component of Senior Secured Credit Facilities | Minimum
Line of Credit Facility [Line Items]
Line of credit maturity date	2019-12
European Line of Credit, 2nd Component of Senior Secured Credit Facilities | Maximum
Line of Credit Facility [Line Items]
Line of credit maturity date	2021-11
European Line of Credit, 2nd Component of Senior Secured Credit Facilities | WIBOR | Minimum
Line of Credit Facility [Line Items]
Debt instrument, percentage points added to the reference rate	1.10%
European Line of Credit, 2nd Component of Senior Secured Credit Facilities | WIBOR | Maximum
Line of Credit Facility [Line Items]
Debt instrument, percentage points added to the reference rate	1.50%
European Line of Credit, 2nd Component of Senior Secured Credit Facilities | EURIBOR | Minimum
Line of Credit Facility [Line Items]
Debt instrument, percentage points added to the reference rate	1.10%
European Line of Credit, 2nd Component of Senior Secured Credit Facilities | EURIBOR | Maximum
Line of Credit Facility [Line Items]
Debt instrument, percentage points added to the reference rate	1.50%
Mexican Railcar Manufacturing Joint Venture Line of Credit, 3rd Component of Senior Secured Credit Facilities
Line of Credit Facility [Line Items]
Line of credit facility maximum capacity	$ 50
Number of lines of credits | CreditFacility	2
Mexican Railcar Manufacturing Joint Venture Line of Credit 1, 3rd Component of Senior Secured Credit Facilities
Line of Credit Facility [Line Items]
Line of credit facility maximum capacity	$ 30
Line of credit facility borrowings outstanding due period	2024-03
Mexican Railcar Manufacturing Joint Venture Line of Credit 1, 3rd Component of Senior Secured Credit Facilities | LIBOR
Line of Credit Facility [Line Items]
Debt instrument, percentage points added to the reference rate	2.00%
Mexican Railcar Manufacturing Joint Venture Line of Credit 2, 3rd Component of Senior Secured Credit Facilities
Line of Credit Facility [Line Items]
Line of credit facility maximum capacity	$ 20
Line of credit facility borrowings outstanding due period	2021-06
Joint venture partner each guaranteed percentage	50.00%
Mexican Railcar Manufacturing Joint Venture Line of Credit 2, 3rd Component of Senior Secured Credit Facilities | LIBOR
Line of Credit Facility [Line Items]
Debt instrument, percentage points added to the reference rate	2.00%

Accounts Payable and Accrued _3

Accounts Payable and Accrued Liabilities - Accounts Payable and Accrued Liabilities (Detail) - USD ($) $ in Thousands	Aug. 31, 2019	Aug. 31, 2018	Aug. 31, 2017	Aug. 31, 2016
Accounts Payable and Accrued Liabilities [Line Items]
Trade payables	$ 302,009	$ 226,405
Other accrued liabilities	108,939	86,175
Accrued payroll and related liabilities	106,669	105,111
Accrued warranty	46,678	27,395	$ 20,737	$ 12,159
Income taxes payable	4,065	4,771
Accounts payable and accrued liabilities	$ 568,360	$ 449,857

Warranty Accrual - Warranty Acc

Warranty Accrual - Warranty Accrual Activity (Detail) - USD ($) $ in Thousands	12 Months Ended
	Aug. 31, 2019	Aug. 31, 2018	Aug. 31, 2017
Product Liability Contingency [Line Items]
Balance at beginning of period	$ 27,395	$ 20,737	$ 12,159
Charged to cost of revenue	5,014	12,323	6,872
Acquisition	23,895		3,526
Payments	(8,594)	(5,217)	(2,649)
Currency translation effect	(1,032)	(448)	829
Balance at end of period	$ 46,678	$ 27,395	$ 20,737

Notes Payable, Net - Notes Paya

Notes Payable, Net - Notes Payable, Net (Detail) - USD ($) $ in Thousands	Aug. 31, 2019	Aug. 31, 2018
Debt Instrument [Line Items]
Term loans	$ 521,544	$ 179,923
Other notes payable	14,001	14,798
Notes payable, gross	860,545	469,721
Debt discount and issuance costs	(37,660)	(33,516)
Notes payable, net	822,885	436,205
2.875% Convertible senior notes, due 2024
Debt Instrument [Line Items]
Convertible senior notes	275,000	$ 275,000
2.25% Convertible senior notes, due 2024
Debt Instrument [Line Items]
Convertible senior notes	$ 50,000

Notes Payable, Net - Additional

Notes Payable, Net - Additional Information (Detail) $ / shares in Units, $ in Thousands, shares in Millions	12 Months Ended
	Aug. 31, 2019USD ($)$ / sharesshares	Aug. 31, 2018USD ($)
Debt Instrument [Line Items]
Debt instrument amount outstanding	$ 860,545	$ 469,721
Debt issuance costs	4,568	1,824
2024 Convertible Senior Notes
Debt Instrument [Line Items]
Senior term debt	$ 300,000
Debt instrument, maturity date	Jun. 30, 2024
Periodic Principal Payment	$ 3,750
Balloon payment	$ 232,500
Swap agreement interest rate	50.00%
Fixed interest rate	3.19%
Debt instrument amount outstanding	$ 300,000
2023 Convertible Senior Notes
Debt Instrument [Line Items]
Senior term debt	$ 225,000
Debt instrument, maturity date	Sep. 30, 2023
Periodic Principal Payment	$ 1,970
Balloon payment	$ 185,600
Swap agreement interest rate	50.00%
Fixed interest rate	4.49%
Debt instrument amount outstanding	$ 217,100
2.875% Convertible senior notes, due 2024
Debt Instrument [Line Items]
Debt instrument, interest rate	2.875%
Description of long term debt	Convertible senior notes, due 2024, bear interest at a fixed rate of 2.875%, paid semi-annually in arrears on February 1st and August 1st.
Frequency of payments	Semi-annually
Debt instrument, maturity date	Feb. 1, 2024
Convertible notes initial conversion rate, shares per $1,000 principal amount	16.6234
Convertible notes conversion rate, per share | $ / shares	$ 60.16
Initial debt discount	$ 33,100
Debt issuance costs	$ 8,000
Number of shares reserved for future issuance | shares	6.3
2.875% Convertible senior notes, due 2024 | ASC 470-20
Debt Instrument [Line Items]
Convertible notes, fair value	$ 241,900
Proceeds from the issuance of the notes	275,000
Convertible notes, equity component	33,100	33,100
2.875% Convertible senior notes, due 2024 | ASC 470-20 | Additional Paid-in Capital
Debt Instrument [Line Items]
Convertible senior notes - equity component, net of tax	$ 12,300	$ 12,300
2.875% Convertible senior notes, due 2024 | Measurement Input, Risk Free Interest Rate [Member] | ASC 470-20
Debt Instrument [Line Items]
Fair value assumed, interest rate	0.05
2.25% Convertible senior notes, due 2024
Debt Instrument [Line Items]
Debt instrument, interest rate	2.25%
Description of long term debt	Convertible senior notes, due 2024, bear interest at a fixed rate of 2.25%, paid semi-annually in arrears on February 1st and August 1st.
Frequency of payments	Semi-annually
Debt instrument, maturity date	Jul. 26, 2024
Convertible notes initial conversion rate, shares per $1,000 principal amount	22.1910
Convertible notes conversion rate, per share | $ / shares	$ 45.06
Initial debt discount	$ 4,900
Number of shares reserved for future issuance | shares	1.5
2.25% Convertible senior notes, due 2024 | ASC 470-20
Debt Instrument [Line Items]
Convertible notes, fair value	$ 45,100
Proceeds from the issuance of the notes	50,000
Convertible notes, equity component	4,900
2.25% Convertible senior notes, due 2024 | ASC 470-20 | Additional Paid-in Capital
Debt Instrument [Line Items]
Convertible senior notes - equity component, net of tax	$ 1,200
2.25% Convertible senior notes, due 2024 | Measurement Input, Risk Free Interest Rate [Member] | ASC 470-20
Debt Instrument [Line Items]
Fair value assumed, interest rate	0.05
Other Term Loan Due April 2020 to September 2022
Debt Instrument [Line Items]
Senior term debt	$ 4,400
Other Term Loan Due November 2019 and September 2020
Debt Instrument [Line Items]
Unsecured debt	$ 14,000
LIBOR | 2024 Convertible Senior Notes
Debt Instrument [Line Items]
Debt instrument, percentage points added to the reference rate	1.50%
LIBOR | 2023 Convertible Senior Notes
Debt Instrument [Line Items]
Debt instrument, percentage points added to the reference rate	1.50%

Notes Payable, Net - Principal

Notes Payable, Net - Principal Payments on Notes Payable (Detail) - USD ($) $ in Thousands		Aug. 31, 2019	Aug. 31, 2018
Debt Instrument [Line Items]
2020		$ 29,084
2021		30,921
2022		23,258
2023		22,907
2024	[1]	754,375
Thereafter		0
Notes payable, gross		$ 860,545	$ 469,721
[1]	The repayment of the $275.0 million of Convertible senior notes due February 2024 and the $50.0 million of Convertible senior notes due July 2024 is assumed to occur at the scheduled maturity in 2024 instead of assuming an earlier conversion by the holders.

Notes Payable, Net - Principa_2

Notes Payable, Net - Principal Payments on Notes Payable (Parenthetical) (Detail) $ in Millions	12 Months Ended
	Aug. 31, 2019USD ($)
February 2024 Convertible Senior Notes
Debt Instrument [Line Items]
Convertible senior notes	$ 275
July 2024 Convertible Senior Notes
Debt Instrument [Line Items]
Convertible senior notes	$ 50
2024 Convertible Senior Notes
Debt Instrument [Line Items]
Debt instrument, redemption, description	The repayment of the $275.0 million of Convertible senior notes due February 2024 and the $50.0 million of Convertible senior notes due July 2024 is assumed to occur at the scheduled maturity in 2024 instead of assuming an earlier conversion by the holders.

Derivative Instruments - Additi

Derivative Instruments - Additional Information (Detail)	12 Months Ended
	Aug. 31, 2019USD ($)
Foreign Exchange Contracts
Derivative [Line Items]
Aggregate derivative notional amount	$ 71,600,000
Amount reclassified to revenue or cost of revenue in the next year	900,000
Interest rate swap contracts
Derivative [Line Items]
Unrealized pre-tax gain (loss) that would be reclassified to interest expense in the next year	200,000
Interest rate swap contracts | Derivatives maturing on september 2023
Derivative [Line Items]
Aggregate derivative notional amount	$ 109,500,000
Maturity date	2023-09
Interest rate swap contracts | Derivatives maturing on june 2024
Derivative [Line Items]
Aggregate derivative notional amount	$ 150,000,000
Maturity date	2024-06

Derivative Instruments - Fair V

Derivative Instruments - Fair Values of Derivative Instruments (Detail) - USD ($) $ in Thousands	Aug. 31, 2019	Aug. 31, 2018
Derivatives, Fair Value [Line Items]
Asset Derivatives	$ 64	$ 1,557
Liability Derivatives	11,279	1,566
Designated as Hedging Instrument
Derivatives, Fair Value [Line Items]
Asset Derivatives	64	1,481
Liability Derivatives	10,692	1,212
Designated as Hedging Instrument | Foreign Exchange Contracts | Accounts Receivable
Derivatives, Fair Value [Line Items]
Asset Derivatives	64	700
Designated as Hedging Instrument | Foreign Exchange Contracts | Accounts Payable and Accrued Liabilities
Derivatives, Fair Value [Line Items]
Liability Derivatives	437	1,211
Designated as Hedging Instrument | Interest rate swap contracts | Accounts Payable and Accrued Liabilities
Derivatives, Fair Value [Line Items]
Liability Derivatives	10,255	1
Designated as Hedging Instrument | Interest rate swap contracts | Intangible and Other Assets, Net
Derivatives, Fair Value [Line Items]
Asset Derivatives		781
Not Designated as Hedging Instrument | Foreign Exchange Contracts | Accounts Receivable
Derivatives, Fair Value [Line Items]
Asset Derivatives		76
Not Designated as Hedging Instrument | Foreign Exchange Contracts | Accounts Payable and Accrued Liabilities
Derivatives, Fair Value [Line Items]
Liability Derivatives	$ 587	$ 354

Derivative Instruments - Effect

Derivative Instruments - Effect of Derivative Instruments on Statements of Income (Detail) - Cash Flow Hedging - USD ($) $ in Thousands	12 Months Ended
	Aug. 31, 2019	Aug. 31, 2018
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) recognized in income on derivatives	$ 213	$ 1,051
Gain (loss) recognized in OCI on derivatives (effective portion)	(13,264)	(119)
Gain (loss) reclassified accumulated OCI income (effective portion)	(2,339)	418
Gain (loss) recognized on derivative (ineffective portion and amount excluded from effectiveness testing)	1,694	1,160
Foreign Exchange Forward | Interest and Foreign Exchange
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) recognized in income on derivatives	213	1,052
Foreign Exchange Forward | Sales
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) recognized in OCI on derivatives (effective portion)	(1,261)	(658)
Gain (loss) reclassified accumulated OCI income (effective portion)	(764)	1,145
Gain (loss) recognized on derivative (ineffective portion and amount excluded from effectiveness testing)	1,346	854
Foreign Exchange Forward | Cost Of Revenue
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) recognized in OCI on derivatives (effective portion)	(421)	(1,093)
Gain (loss) reclassified accumulated OCI income (effective portion)	(1,030)	(429)
Gain (loss) recognized on derivative (ineffective portion and amount excluded from effectiveness testing)	935	306
Interest rate swap contracts | Interest and Foreign Exchange
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) recognized in income on derivatives		(1)
Gain (loss) recognized in OCI on derivatives (effective portion)	(11,582)	1,632
Gain (loss) reclassified accumulated OCI income (effective portion)	(545)	$ (298)
Gain (loss) recognized on derivative (ineffective portion and amount excluded from effectiveness testing)	$ (587)

Equity - Additional Information

Equity - Additional Information (Detail) - USD ($)	12 Months Ended			72 Months Ended
	Aug. 31, 2019	Aug. 31, 2018	Aug. 31, 2017	Aug. 31, 2019	Jan. 05, 2018
Stockholders Equity Note [Line Items]
Shares available for grant	849,522	1,050,675	233,271	849,522
Performance based share based compensation	313,540	317,036	269,705
Share based compensation, non vested shares	397,260			397,260
Additional shares available for grant	397,260
Unamortized compensation cost of restricted stock grants	$ 15,000,000			$ 15,000,000
2017 Amended and Restated Stock Incentive Plan
Stockholders Equity Note [Line Items]
Number of shares reserved for future issuance					1,100,000
Maximum aggregate number of common shares authorized for issuance					5,425,000
Selling, Administrative and Cost of Revenue
Stockholders Equity Note [Line Items]
Restricted stock compensation expense	$ 12,400,000	$ 17,200,000	$ 20,200,000
Share Repurchase Program - 2014
Stockholders Equity Note [Line Items]
Repurchase of common stock, shares	0	0		3,206,226
Stock repurchase program total cost of repurchased shares				$ 137,000,000
Remaining authorized repurchase amount	$ 100,000,000			$ 100,000,000
Repurchase program expiration date	Mar. 31, 2021
Unvested Restricted Stock Grants
Stockholders Equity Note [Line Items]
Share based compensation, non vested shares	697,949	788,744		697,949
Fair value of awards granted	$ 17,400,000	$ 15,200,000	$ 11,300,000
Restricted Stock | Minimum
Stockholders Equity Note [Line Items]
Vesting period of compensation expense	1 year
Restricted Stock | Maximum
Stockholders Equity Note [Line Items]
Vesting period of compensation expense	3 years

Equity - Summary of Restricted

Equity - Summary of Restricted Stock Share and Restricted Stock Unit Grant Transactions for Shares, both Vested and Unvested (Detail) - shares		12 Months Ended
		Aug. 31, 2019	Aug. 31, 2018	Aug. 31, 2017
Reconciliation of Restricted Stock Activity [Line Items]
Beginning Balance	[1]	4,374,325	4,091,729	3,848,230
Granted		313,540	317,036	269,705
Forfeited		(112,387)	(34,440)	(26,206)
Ending Balance	[1]	4,575,478	4,374,325	4,091,729
[1]	Balance represents cumulative grants net of forfeitures.

Earnings Per Share - Reconcilia

Earnings Per Share - Reconciliation of Shares Used in Computation of Basic and Diluted Earnings Per Common Share (Detail) - shares shares in Thousands		12 Months Ended
		Aug. 31, 2019	Aug. 31, 2018	Aug. 31, 2017
Earnings Per Share Disclosure [Line Items]
Weighted average basic common shares outstanding	[1]	32,615	30,857	29,225
Dilutive effect of restricted stock units	[2]	550	157	42
Weighted average diluted common shares outstanding		33,165	32,835	32,562
3.5% Convertible Senior Notes
Earnings Per Share Disclosure [Line Items]
Dilutive effect of convertible notes	[3]		1,821	3,295
2.875% Convertible Senior Notes
Earnings Per Share Disclosure [Line Items]
Dilutive effect of convertible notes	[4]
2.25% Convertible Senior Notes
Earnings Per Share Disclosure [Line Items]
Dilutive effect of convertible notes	[5]
[1]	Restricted stock grants and restricted stock units that are considered participating securities, including some grants subject to certain performance criteria, are included in weighted average basic common shares outstanding when the Company is in a net earnings position. No restricted stock and restricted stock units were anti-dilutive for the years ended August 31, 2019, 2018 and 2017.
[2]	Restricted stock units that are not considered participating securities and restricted stock units subject to performance criteria, for which actual levels of performance above target have been achieved, are included in weighted average diluted common shares outstanding when the Company is in a net earnings position.
[3]	The dilutive effect of the 3.5% Convertible notes was included as they were considered dilutive under the “if converted” method as further discussed below for the years ended August 31, 2018 and 2017. The 3.5% Convertible notes matured on April 1, 2018.
[4]	The 2.875% Convertible notes were issued in February 2017. The dilutive effect of the 2.875% Convertible notes was excluded for the years ended August 31, 2019, 2018 and 2017 as the average stock price was less than the applicable conversion price and therefore was considered anti-dilutive.
[5]	The 2.25% Convertible notes were issued in July 2019. The dilutive effect of the 2.25% Convertible notes was excluded for the year ended August 31, 2019 as the average stock price was less than the applicable conversion price and therefore was considered anti-dilutive.

Earnings Per Share - Reconcil_2

Earnings Per Share - Reconciliation of Shares Used in Computation of Basic and Diluted Earnings Per Common Share (Parenthetical) (Detail) - shares	12 Months Ended
	Aug. 31, 2019	Aug. 31, 2018	Aug. 31, 2017
3.5% Convertible Senior Notes
Earnings Per Share Disclosure [Line Items]
Debt instrument, interest rate	3.50%
Debt instrument, maturity date	Apr. 1, 2018
2.875% Convertible Senior Notes
Earnings Per Share Disclosure [Line Items]
Debt instrument, interest rate	2.875%
Debt instrument, maturity date	Feb. 1, 2024
2.25% Convertible Senior Notes
Earnings Per Share Disclosure [Line Items]
Debt instrument, interest rate	2.25%
Debt instrument, maturity date	Jul. 26, 2024
Restricted Stock
Earnings Per Share Disclosure [Line Items]
Anti-dilutive shares excluded from calculation	0	0	0

Earnings Per Share - Additional

Earnings Per Share - Additional Information (Detail)	Aug. 31, 2019
2.875% Convertible Senior Notes
Debt instrument, interest rate	2.875%
2.25% Convertible Senior Notes
Debt instrument, interest rate	2.25%
3.5% Convertible Senior Notes
Debt instrument, interest rate	3.50%

Earnings Per Share - Approach t

Earnings Per Share - Approach to Calculate Diluted Earning Per Share (Detail) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended																12 Months Ended
	Aug. 31, 2019		May 31, 2019		Feb. 28, 2019		Nov. 30, 2018		Aug. 31, 2018		May 31, 2018		Feb. 28, 2018		Nov. 30, 2017		Aug. 31, 2019		Aug. 31, 2018		Aug. 31, 2017
Earnings Per Share, Diluted, by Common Class, Including Two Class Method [Line Items]
Net earnings attributable to Greenbrier	$ 35,107		$ 15,248		$ 2,765		$ 17,956		$ 30,935		$ 32,951		$ 61,642		$ 26,253		$ 71,076		$ 151,781		$ 116,067
Weighted average diluted common shares outstanding																	33,165		32,835		32,562
Diluted earnings per share	$ 1.06	[1]	$ 0.46	[1]	$ 0.08	[1]	$ 0.54	[1]	$ 0.94	[2]	$ 1.01	[2]	$ 1.91	[2]	$ 0.83	[2]	$ 2.14	[3]	$ 4.68	[3]	$ 3.65	[3]
3.5% Convertible Senior Notes
Earnings Per Share, Diluted, by Common Class, Including Two Class Method [Line Items]
Interest and debt issuance costs on the 3.5% Convertible notes, net of tax																			$ 2,031		$ 2,932
Earnings before interest and debt issuance costs on the 3.5% Convertible notes																	$ 71,076		$ 153,812		$ 118,999
[1]	Quarterly amounts do not total to the year to date amount as each period is calculated discretely. Diluted EPS is calculated by including the dilutive effect, using the treasury stock method, associated with shares underlying the 2.875% Convertible notes, 2.25% Convertible notes, restricted stock units that are not considered participating securities and performance based restricted stock units subject to performance criteria, for which actual levels of performance above target have been achieved.
[2]	Quarterly amounts do not total to the year to date amount as each period is calculated discretely. Diluted EPS is calculated using the more dilutive of two approaches. The first approach includes the dilutive effect, using the treasury stock method, associated with shares underlying the 2.875% Convertible notes, restricted stock units that are not considered participating securities and performance based restricted stock units subject to performance criteria, for which actual levels of performance above target have been achieved. The second approach supplements the first by including the “if converted” effect of the 3.5% Convertible notes during the periods in which they were outstanding. Under the “if converted” method, debt issuance and interest costs, both net of tax, associated with the convertible notes are added back to net earnings and the share count is increased by the shares underlying the convertible notes. The 3.5% Convertible notes are included in the calculation of both approaches using the treasury stock method when the average stock price is greater than the applicable conversion price.
[3]	Diluted earnings per share was calculated as follows: Earnings before interest and debt issuance costs on the 3.5% convertible notes Weighted average diluted common shares outstanding

Related Party Transactions - Ad

Related Party Transactions - Additional Information (Detail) - USD ($) $ in Millions	12 Months Ended
	Aug. 31, 2019	Aug. 31, 2018	Aug. 31, 2017	Aug. 20, 2018	Jun. 30, 2017	Jul. 31, 2014
Related Party Transaction [Line Items]
Carrying amount of investment in unconsolidated affiliates	$ 5.8
Percentage of recognized revenue and margin from sale	60.00%
Percentage of deferred revenue and margin from sale	40.00%
Revenue recognize from railcars sold	$ 18	$ 16	$ 130
Related party expenses	1.5	0.5	0.5
Leasing Warehouse
Related Party Transaction [Line Items]
Revenue recognize from railcars sold	$ 6	48
Greenbrier
Related Party Transaction [Line Items]
Percentage of ownership in entity	40.00%				40.00%
Axis LLC
Related Party Transaction [Line Items]
Percentage of ownership in entity	41.90%
Axis LLC | Railcar Components
Related Party Transaction [Line Items]
Purchases of goods from related party	$ 1.6
GBW Railcar Services LLC
Related Party Transaction [Line Items]
Percentage of ownership in entity	50.00%			50.00%
Related party transaction other revenue		5	5
Sale of wheel sets and components		16.5	18.3
Related party expenses		$ 0.4	$ 1
GBW Railcar Services LLC | Watco Companies LLC
Related Party Transaction [Line Items]
Percentage of ownership in entity						50.00%
Amsted-Maxion
Related Party Transaction [Line Items]
Percentage of ownership in entity	24.50%
Note receivable	$ 10
Greenbrier-Maxion
Related Party Transaction [Line Items]
Percentage of ownership in entity	60.00%
Note receivable	$ 18.4

Income Taxes - Components of In

Income Taxes - Components of Income Tax Expense of Continuing Operations (Detail) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Aug. 31, 2019	May 31, 2019	Feb. 28, 2019	Nov. 30, 2018	Aug. 31, 2018	May 31, 2018	Feb. 28, 2018	Nov. 30, 2017	Aug. 31, 2019	Aug. 31, 2018	Aug. 31, 2017
Current
Federal									$ 18,894	$ 28,357	$ 22,710
State									4,775	3,244	305
Foreign									37,391	38,628	35,893
Current Income Tax Expense (Benefit), Total									61,060	70,229	58,908
Deferred
Federal									(8,559)	(33,459)	9,418
State									(2,542)	(344)	(1,467)
Foreign									(8,433)	(3,690)	(2,732)
Total Deferred Income Tax Expense (Benefit)									(19,534)	(37,493)	5,219
Change in valuation allowance									62	157	(113)
Income tax expense	$ 17,197	$ 13,008	$ 2,248	$ 9,135	$ 10,115	$ 15,944	$ (11,301)	$ 18,135	$ 41,588	$ 32,893	$ 64,014

Income Taxes - Additional infor

Income Taxes - Additional information (Detail) - USD ($) $ in Millions	12 Months Ended
	Aug. 31, 2019	Aug. 31, 2018	Aug. 31, 2017
Operating Loss Carryforwards [Line Items]
Statutory federal corporate tax rate	21.00%	25.70%	35.00%
Tax benefit due to remeasurement of deferred tax assets and liabilities		$ 33.6
Tax Cuts and Jobs Act of 2017, Incomplete Accounting, Transition Tax for Accumulated Foreign Earnings, Provisional Income Tax Expense	$ 8.9	6.9
Income tax and earnings from unconsolidated affiliates,Domestic u.s. operations	75	110.8	$ 123.2
Income tax and earnings from unconsolidated affiliates,Foreign operations	78.2	112.8	$ 113
Net increase (Decrease) in the valuation allowance	0.1
Unrecognized tax benefits, excluding interest	1.6	1.6
Accrued interest related to uncertain tax provisions	0.6	0.2
Interest benefit relating to reserves for uncertain tax provisions	0.4	$ 0.4
State
Operating Loss Carryforwards [Line Items]
Credit carryforwards	$ 1.4
Credit carryforwards expiration Year	2021
Foreign
Operating Loss Carryforwards [Line Items]
Operating loss carryforwards	$ 19.6
Operating loss carryforwards expiration dates	2020

Income Taxes - Reconciliation B

Income Taxes - Reconciliation Between Effective and Statutory Tax Rates on Continuing Operations (Detail)	12 Months Ended
	Aug. 31, 2019	Aug. 31, 2018	Aug. 31, 2017
Income Tax [Line Items]
Federal statutory rate	21.00%	25.70%	35.00%
State income taxes, net of federal benefit	1.30%	0.80%	0.10%
Foreign operations, excluding transition tax	5.80%	1.80%	(3.40%)
Transition tax on foreign earnings	0.50%	3.10%
Remeasurement of domestic deferred taxes		(15.00%)
Change in valuation allowance		0.10%
Noncontrolling interest in flow-through entity	(5.70%)	(2.40%)	(6.00%)
Permanent differences and other	4.20%	0.60%	1.40%
Effective tax rate	27.10%	14.70%	27.10%

Income Taxes - Tax Effects of T

Income Taxes - Tax Effects of Temporary Differences that give rise to Significant Portions of Deferred Tax Assets and Deferred Tax Liabilities (Detail) - USD ($) $ in Thousands	Aug. 31, 2019	Aug. 31, 2018
Deferred tax assets:
Accrued payroll and related liabilities	$ 21,978	$ 18,461
Deferred revenue	8,296	10,642
Inventories and other	15,392	10,518
Maintenance and warranty accruals	3,596	7,201
Net operating losses	3,182	2,002
Investment and asset tax credits	1,560	1,439
Deferred Tax Assets, Gross, Total	54,004	50,263
Deferred tax liabilities:
Fixed assets	56,760	70,942
Original issue discount	6,253	6,099
Intangibles	2,813	2,474
Other	1,432	1,831
Deferred Tax Liabilities, Gross, Total	67,258	81,346
Valuation allowance	692	657
Net deferred tax liability	$ 13,946	$ 31,740

Income Taxes - Unrecognized Tax

Income Taxes - Unrecognized Tax Benefits (Detail) - USD ($) $ in Thousands	12 Months Ended
	Aug. 31, 2019	Aug. 31, 2018	Aug. 31, 2017
Income Tax [Line Items]
Unrecognized Tax Benefit - Opening Balance	$ 1,608	$ 1,820	$ 942
Gross increases - tax positions in prior period		237	1,368
Gross decreases - tax positions in prior period	(3)	(449)	(53)
Settlements
Lapse of statute of limitations			(437)
Unrecognized Tax Benefit - Ending Balance	$ 1,605	$ 1,608	$ 1,820

Segment Information - Additiona

Segment Information - Additional Information (Detail)	Aug. 20, 2018FacilitySegment	Aug. 19, 2018Segment	Aug. 31, 2019Segment
Segment Reporting Information [Line Items]
Number of reportable segments | Segment	3	4	3
Number of railcars repair shops returned to business | Facility	12

Segment Information - Segments

Segment Information - Segments Internal Financial Reports (Detail) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Aug. 31, 2019	May 31, 2019	Feb. 28, 2019	Nov. 30, 2018	Aug. 31, 2018	May 31, 2018	Feb. 28, 2018	Nov. 30, 2017	Aug. 31, 2019	Aug. 31, 2018	Aug. 31, 2017
Segment Reporting Information [Line Items]
Revenues	$ 914,245	$ 856,152	$ 658,671	$ 604,523	$ 689,206	$ 641,387	$ 629,336	$ 559,535	$ 3,033,591	$ 2,519,464	$ 2,169,164
Earnings (loss) from operations	76,419	53,189	18,054	36,454	59,134	71,539	60,870	61,442	184,116	252,985	260,432
Assets	2,990,637				2,465,464				2,990,637	2,465,464	2,397,705
Depreciation and amortization									83,731	74,356	65,129
Capital expenditures									198,233	176,848	86,065
Manufacturing
Segment Reporting Information [Line Items]
Revenues	802,103	681,588	476,019	471,789	571,175	510,099	511,827	451,485	2,431,499	2,044,586	1,725,188
Earnings (loss) from operations									217,583	240,901	295,334
Wheels, Repair & Parts
Segment Reporting Information [Line Items]
Revenues	85,701	124,980	125,278	108,543	85,787	94,515	88,710	78,011	444,502	347,023	312,679
Earnings (loss) from operations									(2,941)	16,731	14,984
Leasing & Services
Segment Reporting Information [Line Items]
Revenues	26,441	$ 49,584	$ 57,374	$ 24,191	32,244	$ 36,773	$ 28,799	$ 30,039	157,590	127,855	131,297
Earnings (loss) from operations									64,763	88,481	31,904
Operating Segments | Manufacturing
Segment Reporting Information [Line Items]
Revenues									2,528,585	2,162,743	1,744,479
Earnings (loss) from operations									223,953	258,622	296,356
Assets	1,606,571				1,020,757				1,606,571	1,020,757	914,450
Depreciation and amortization									49,240	44,225	33,807
Capital expenditures									85,155	59,707	54,973
Operating Segments | Wheels, Repair & Parts
Segment Reporting Information [Line Items]
Revenues									492,768	388,517	343,540
Earnings (loss) from operations									(2,039)	19,479	17,287
Assets	306,725				306,756				306,725	306,756	236,315
Depreciation and amortization									13,024	10,771	11,143
Capital expenditures									13,291	5,204	3,129
Operating Segments | Leasing & Services
Segment Reporting Information [Line Items]
Revenues									185,830	139,702	143,109
Earnings (loss) from operations									90,290	98,777	43,003
Assets	708,799				578,818				708,799	578,818	535,323
Depreciation and amortization									21,467	19,360	20,179
Capital expenditures									99,787	111,937	27,963
Operating Segments | Unallocated Amount to Segment
Segment Reporting Information [Line Items]
Assets	$ 368,542				$ 559,133				368,542	559,133	711,617
Intersegment Eliminations
Segment Reporting Information [Line Items]
Revenues									(173,592)	(171,498)	(61,964)
Earnings (loss) from operations									(32,799)	(30,765)	(14,424)
Intersegment Eliminations | Manufacturing
Segment Reporting Information [Line Items]
Revenues									97,086	118,157	19,291
Earnings (loss) from operations									6,370	17,721	1,022
Intersegment Eliminations | Wheels, Repair & Parts
Segment Reporting Information [Line Items]
Revenues									48,266	41,494	30,861
Earnings (loss) from operations									902	2,748	2,303
Intersegment Eliminations | Leasing & Services
Segment Reporting Information [Line Items]
Revenues									28,240	11,847	11,812
Earnings (loss) from operations									25,527	10,296	11,099
Corporate, Non-Segment
Segment Reporting Information [Line Items]
Earnings (loss) from operations									$ (95,289)	$ (93,128)	$ (81,790)

Segment Information - Summary o

Segment Information - Summary of Geographic Information (Detail) - USD ($) $ in Thousands		3 Months Ended								12 Months Ended
		Aug. 31, 2019	May 31, 2019	Feb. 28, 2019	Nov. 30, 2018	Aug. 31, 2018	May 31, 2018	Feb. 28, 2018	Nov. 30, 2017	Aug. 31, 2019	Aug. 31, 2018	Aug. 31, 2017
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenue		$ 914,245	$ 856,152	$ 658,671	$ 604,523	$ 689,206	$ 641,387	$ 629,336	$ 559,535	$ 3,033,591	$ 2,519,464	$ 2,169,164
Assets		2,990,637				2,465,464				2,990,637	2,465,464	2,397,705
UNITED STATES
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenue	[1]									2,115,934	1,840,877	1,674,517
Assets		2,110,864				1,677,144				2,110,864	1,677,144	1,307,239
Foreign
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenue	[1]									917,657	678,587	494,647
Mexico
Segment Reporting, Revenue Reconciling Item [Line Items]
Assets		628,511				517,543				628,511	517,543	791,974
Europe
Segment Reporting, Revenue Reconciling Item [Line Items]
Assets		$ 251,262				$ 270,777				$ 251,262	$ 270,777	$ 298,492
[1]	Revenue is presented on the basis of geographic location of customers.

Segment Information - Reconcili

Segment Information - Reconciliation of Earnings from Operations to Earnings Before Income Tax and Loss from Unconsolidated Affiliates (Detail) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Aug. 31, 2019	May 31, 2019	Feb. 28, 2019	Nov. 30, 2018	Aug. 31, 2018	May 31, 2018	Feb. 28, 2018	Nov. 30, 2017	Aug. 31, 2019	Aug. 31, 2018	Aug. 31, 2017
Segment Reporting, Other Significant Reconciling Item [Line Items]
Earnings from operations	$ 76,419	$ 53,189	$ 18,054	$ 36,454	$ 59,134	$ 71,539	$ 60,870	$ 61,442	$ 184,116	$ 252,985	$ 260,432
Interest and foreign exchange	7,501	9,770	9,237	4,404	8,786	6,533	7,029	7,020	30,912	29,368	24,192
Earnings before income tax and loss from unconsolidated affiliates	$ 68,918	$ 43,419	$ 8,817	$ 32,050	$ 50,348	$ 65,006	$ 53,841	$ 54,422	$ 153,204	$ 223,617	$ 236,240

Customer Concentration - Additi

Customer Concentration - Additional Information (Detail) - Customer Concentration Risk	12 Months Ended
	Aug. 31, 2019	Aug. 31, 2018	Aug. 31, 2017
Sales Revenue, Net
Concentration Risk [Line Items]
Concentration risk, percentage	10.00%
Sales Revenue, Net | Customer One Concentration Risk
Concentration Risk [Line Items]
Concentration risk, percentage	26.00%	20.00%	20.00%
Sales Revenue, Net | Customer Two Concentration Risk
Concentration Risk [Line Items]
Concentration risk, percentage		11.00%
Accounts Receivable
Concentration Risk [Line Items]
Concentration risk, percentage	10.00%
Accounts Receivable | Customer One Concentration Risk
Concentration Risk [Line Items]
Concentration risk, percentage	14.00%	19.00%

Lease Commitments - Additional

Lease Commitments - Additional Information (Detail) - USD ($) $ in Millions	12 Months Ended
	Aug. 31, 2019	Aug. 31, 2018	Aug. 31, 2017
Railcar Equipment
Lessee, Lease, Description [Line Items]
Lease expense	$ 7.7	$ 7.5	$ 7.6
Domestic railcar repair facilities, office space and certain manufacturing and office equipment
Lessee, Lease, Description [Line Items]
Lease expense	$ 12.2	$ 8.7	$ 9.4

Lease Commitments - Aggregate M

Lease Commitments - Aggregate Minimum Future Amounts Payable Under Non-Cancelable Railcar Equipment Leases (Detail) - Railcar Equipment $ in Thousands	Aug. 31, 2019USD ($)
Operating Leased Assets [Line Items]
2020	$ 6,200
2021	2,965
2022	1,762
2023	1,762
2024	1,413
Thereafter	376
Operating Leases, Future Minimum Payments Due, Total	$ 14,478

Lease Commitments - Aggregate_2

Lease Commitments - Aggregate Minimum Future Amounts Payable Under Non-Cancelable Operating Leases (Detail) - Domestic railcar repair facilities, office space and certain manufacturing and office equipment $ in Thousands	Aug. 31, 2019USD ($)
Operating Leased Assets [Line Items]
2020	$ 8,099
2021	5,781
2022	3,965
2023	3,395
2024	2,109
Thereafter	9,821
Operating Leases, Future Minimum Payments Due, Total	$ 33,170

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Detail)	Jan. 06, 2017USD ($)Segment	Dec. 31, 2016USD ($)	Aug. 31, 2019USD ($)
Commitments and Contingencies Disclosure [Line Items]
Remedial investigation and feasibility study		$ 110,000,000
Performance Guarantee
Commitments and Contingencies Disclosure [Line Items]
Letter of credit facility outstanding amount			$ 24,400,000
Portland Harbor Site
Commitments and Contingencies Disclosure [Line Items]
Number of sediment decision units | Segment	13
Estimated undiscounted cost	$ 1,700,000,000
Period for remedial action	13 years
Period for monitoring	30 years
New data collection period to reflect actual cost prior to final remedy design	2 years
Portland Harbor Site | Minimum
Commitments and Contingencies Disclosure [Line Items]
Accuracy of cost estimate	(30.00%)
Portland Harbor Site | Maximum
Commitments and Contingencies Disclosure [Line Items]
Accuracy of cost estimate	50.00%
Amsted-Maxion
Commitments and Contingencies Disclosure [Line Items]
Note receivable			10,000,000
Greenbrier-Maxion
Commitments and Contingencies Disclosure [Line Items]
Note receivable			$ 18,400,000

Fair Value of Financial Instr_3

Fair Value of Financial Instruments - Fair Value of Financial Instruments (Detail) - USD ($) $ in Thousands		Aug. 31, 2019	Aug. 31, 2018
Carrying (Reported) Amount, Fair Value Disclosure
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Notes payable	[1]	$ 860,545	$ 469,721
Estimate of Fair Value, Fair Value Disclosure
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Notes payable		$ 838,728	$ 517,925
[1]	Carrying amount disclosed in this table excludes debt discount and debt issuance costs.

Fair Value Measures - Assets an

Fair Value Measures - Assets and Liabilities Measured at Fair Value on Recurring Basis (Detail) - USD ($) $ in Thousands		Aug. 31, 2019	Aug. 31, 2018
Assets:
Derivative financial instruments		$ 64	$ 1,557
Nonqualified savings plan investments		27,967	26,299
Cash equivalents		68,100	126,430
Assets, Fair Value Disclosure, Total		96,131	154,286
Liabilities:
Derivative financial instruments		11,279	1,566
Fair Value, Inputs, Level 1 | Fair Value, Measurements, Recurring
Assets:
Nonqualified savings plan investments		27,967	26,299
Cash equivalents		68,100	126,430
Assets, Fair Value Disclosure, Total		96,067	152,729
Fair Value, Inputs, Level 2 | Fair Value, Measurements, Recurring
Assets:
Derivative financial instruments	[1]	64	1,557
Assets, Fair Value Disclosure, Total	[1]	64	1,557
Liabilities:
Derivative financial instruments	[1]	$ 11,279	$ 1,566
[1]	Level 2 assets include derivative financial instruments which are valued based on significant observable inputs. See Note 14 - Derivative Instruments for further discussion.

Quarterly Results of Operatio_3

Quarterly Results of Operations (Unaudited) - Quarterly Results of Operations (Detail) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended																12 Months Ended
	Aug. 31, 2019		May 31, 2019		Feb. 28, 2019		Nov. 30, 2018		Aug. 31, 2018		May 31, 2018		Feb. 28, 2018		Nov. 30, 2017		Aug. 31, 2019		Aug. 31, 2018		Aug. 31, 2017
Revenue
Revenue	$ 914,245		$ 856,152		$ 658,671		$ 604,523		$ 689,206		$ 641,387		$ 629,336		$ 559,535		$ 3,033,591		$ 2,519,464		$ 2,169,164
Cost of revenue
Cost of revenue	780,708		749,580		604,827		531,990		583,319		532,880		523,989		470,221		2,667,105		2,110,409		1,747,865
Margin	133,537		106,572		53,844		72,533		105,887		108,507		105,347		89,314		366,486		409,055		421,299
Selling and administrative	60,607		54,377		47,892		50,432		51,309		51,793		50,294		47,043		213,308		200,439		170,607
Net gain on disposition of equipment	(3,489)		(11,019)		(12,102)		(14,353)		(4,556)		(14,825)		(5,817)		(19,171)		(40,963)		(44,369)		(9,740)
Goodwill impairment			10,025														10,025
Earnings from operations	76,419		53,189		18,054		36,454		59,134		71,539		60,870		61,442		184,116		252,985		260,432
Other costs
Interest and foreign exchange	7,501		9,770		9,237		4,404		8,786		6,533		7,029		7,020		30,912		29,368		24,192
Earnings before income tax and earnings (loss) from unconsolidated affiliates	68,918		43,419		8,817		32,050		50,348		65,006		53,841		54,422		153,204		223,617		236,240
Income tax benefit (expense)	(17,197)		(13,008)		(2,248)		(9,135)		(10,115)		(15,944)		11,301		(18,135)		(41,588)		(32,893)		(64,014)
Earnings (loss) from unconsolidated affiliates	(922)		(4,564)		(786)		467		(3,075)		(12,823)		147		(2,910)		(5,805)		(18,661)		(11,764)
Net earnings	50,799		25,847		5,783		23,382		37,158		36,239		65,289		33,377		105,811		172,063		160,462
Net earnings attributable to noncontrolling interest	(15,692)		(10,599)		(3,018)		(5,426)		(6,223)		(3,288)		(3,647)		(7,124)		(34,735)		(20,282)		(44,395)
Net earnings attributable to Greenbrier	$ 35,107		$ 15,248		$ 2,765		$ 17,956		$ 30,935		$ 32,951		$ 61,642		$ 26,253		$ 71,076		$ 151,781		$ 116,067
Basic earnings per common share	$ 1.08	[1]	$ 0.47	[1]	$ 0.08	[1]	$ 0.55	[1]	$ 0.95	[2]	$ 1.03	[2]	$ 2.10	[2]	$ 0.90	[2]	$ 2.18	[3]	$ 4.92	[2]	$ 3.97	[3]
Diluted earnings per common share	$ 1.06	[1]	$ 0.46	[1]	$ 0.08	[1]	$ 0.54	[1]	$ 0.94	[2]	$ 1.01	[2]	$ 1.91	[2]	$ 0.83	[2]	$ 2.14	[4]	$ 4.68	[4]	$ 3.65	[4]
Manufacturing
Revenue
Revenue	$ 802,103		$ 681,588		$ 476,019		$ 471,789		$ 571,175		$ 510,099		$ 511,827		$ 451,485		$ 2,431,499		$ 2,044,586		$ 1,725,188
Cost of revenue
Cost of revenue	686,036		590,788		442,996		417,805		489,517		427,875		429,165		380,850		2,137,625		1,727,407		1,373,967
Earnings from operations																	217,583		240,901		295,334
Wheels, Repair & Parts
Revenue
Revenue	85,701		124,980		125,278		108,543		85,787		94,515		88,710		78,011		444,502		347,023		312,679
Cost of revenue
Cost of revenue	81,636		119,821		118,455		100,978		79,266		85,850		80,708		72,506		420,890		318,330		288,336
Earnings from operations																	(2,941)		16,731		14,984
Leasing & Services
Revenue
Revenue	26,441		49,584		57,374		24,191		32,244		36,773		28,799		30,039		157,590		127,855		131,297
Cost of revenue
Cost of revenue	$ 13,036		$ 38,971		$ 43,376		$ 13,207		$ 14,536		$ 19,155		$ 14,116		$ 16,865		108,590		64,672		85,562
Earnings from operations																	$ 64,763		$ 88,481		$ 31,904
[1]	Quarterly amounts do not total to the year to date amount as each period is calculated discretely. Diluted EPS is calculated by including the dilutive effect, using the treasury stock method, associated with shares underlying the 2.875% Convertible notes, 2.25% Convertible notes, restricted stock units that are not considered participating securities and performance based restricted stock units subject to performance criteria, for which actual levels of performance above target have been achieved.
[2]	Quarterly amounts do not total to the year to date amount as each period is calculated discretely. Diluted EPS is calculated using the more dilutive of two approaches. The first approach includes the dilutive effect, using the treasury stock method, associated with shares underlying the 2.875% Convertible notes, restricted stock units that are not considered participating securities and performance based restricted stock units subject to performance criteria, for which actual levels of performance above target have been achieved. The second approach supplements the first by including the “if converted” effect of the 3.5% Convertible notes during the periods in which they were outstanding. Under the “if converted” method, debt issuance and interest costs, both net of tax, associated with the convertible notes are added back to net earnings and the share count is increased by the shares underlying the convertible notes. The 3.5% Convertible notes are included in the calculation of both approaches using the treasury stock method when the average stock price is greater than the applicable conversion price.
[3]	Quarterly amounts do not total to the year to date amount as each period is calculated discretely. Diluted earnings per common share includes the dilutive effect of the 2024 Convertible Notes using the treasury stock method when dilutive, restricted stock units that are not considered participating securities, restricted stock units that are subject to performance criteria for which actual levels of performance above target have been achieved and the dilutive effect of shares underlying the 2018 Convertible Notes, during the periods in which they were outstanding, using the “if converted” method in which debt issuance and interest costs, net of tax, were added back to net earnings. The 2018 Convertible notes matured on April 1, 2018.
[4]	Diluted earnings per share was calculated as follows: Earnings before interest and debt issuance costs on the 3.5% convertible notes Weighted average diluted common shares outstanding

Quarterly Results of Operatio_4

Quarterly Results of Operations (Unaudited) - Quarterly Results of Operations (Parenthetical) (Detail)	Aug. 31, 2019
2.875% Convertible Senior Notes
Debt Instrument Interest Rate	2.875%
2.25% Convertible Senior Notes
Debt Instrument Interest Rate	2.25%
3.5% Convertible Senior Notes
Debt Instrument Interest Rate	3.50%