GATX CORP Earnings Per Share Disclosure
| 2023 | 2022 | 2021 | |||||||||||||||
Basic earnings per share: | |||||||||||||||||
Net income | $ | 259.2 | $ | 155.9 | $ | 143.1 | |||||||||||
| Less: Net income allocated to participating securities | (4.9) | — | — | ||||||||||||||
| Net income available to common shareholders | $ | 254.3 | $ | 155.9 | $ | 143.1 | |||||||||||
Weighted-average shares outstanding - basic | 35.7 | 35.4 | 35.4 | ||||||||||||||
Basic earnings per share | $ | 7.13 | $ | 4.41 | $ | 4.04 | |||||||||||
| Diluted earnings per share: | |||||||||||||||||
Net income | $ | 259.2 | $ | 155.9 | $ | 143.1 | |||||||||||
| Less: Net income allocated to participating securities | (4.9) | — | — | ||||||||||||||
| Net income available to common shareholders | $ | 254.3 | $ | 155.9 | $ | 143.1 | |||||||||||
Weighted-average shares outstanding - basic | 35.7 | 35.4 | 35.4 | ||||||||||||||
Effect of dilutive securities: | |||||||||||||||||
| Equity compensation plans | 0.1 | 0.5 | 0.6 | ||||||||||||||
Weighted-average shares outstanding - diluted * | 35.7 | 35.9 | 36.0 | ||||||||||||||
Diluted earnings per share | $ | 7.12 | $ | 4.35 | $ | 3.98 | |||||||||||
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2023 | Feb 16, 2024 | Showing above |
| 2022 | Feb 16, 2023 | |
| 2021 | Feb 17, 2022 | |
| 2020 | Feb 18, 2021 | |
| 2019 | Feb 19, 2020 | |
| 2018 | Feb 25, 2019 | |
| 2017 | Feb 21, 2018 | |
| 2016 | Feb 22, 2017 | |
| 2015 | Feb 24, 2016 | |
About Earnings Per Share Disclosures
The earnings per share disclosure breaks down the calculation from net income to both basic and diluted EPS, revealing the full impact of a company's capital structure on per-share economics. The reconciliation between basic and diluted share counts exposes how many stock options, RSUs, convertible securities, and warrants are potentially dilutive to existing shareholders.
Key signals: a widening gap between basic and diluted shares indicates growing dilution from equity compensation or convertible instruments. Anti-dilutive securities excluded from the diluted calculation deserve attention — they represent latent dilution that will materialize if the stock price rises. Watch for the effect of share buybacks on per-share metrics: EPS growth driven primarily by repurchases rather than income growth signals weakening fundamentals. Compare year-over-year changes in the diluted share count against equity compensation expense to assess whether management is effectively managing dilution.