We also reviewed our goodwill and long-lived assets for potential impairment, and concluded that no such impairment charges were necessary at the time. The loss on extinguishment of debt is included in interest expense in our Consolidated Statement of Operations. Loss from discontinued operations, net of income taxes The total owned and managed lease fleet now stands at 129,655 railcars at the end of the first quarter. Operating profit for the All Other Group was $9.3 million for the first quarter of 2020, compared with $10.1 million in the first quarter of 2019. These activities, in addition to a number of actions the Company is taking, will achieve the previously provided SE&A and other cost reductions goal of $25 million to $30 million for 2020.
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Secured railcar equipment notes, net of unamortized discount of $1.7 and $2.0 Contact Trinity Human Resources. Contact Trinity. Net income (loss) attributable to noncontrolling interest Free shipping on most orders While we have not lost sight of our longer-term goals, the disruption caused by the coronavirus pandemic is unprecedented, and our first priority is the health and safety of our employees and the residents of the communities in which we live and work. We completed the redemption of this securitization in March 2020.
Please seek the advice of professionals regarding the evaluation of any of the information on the Site.The Site does not represent an offer or solicitation with respect to the purchase or sale of any security.These Terms of Use are the entire agreement between the parties with respect to its subject matter, and it can be amended only via written agreement by S&P. The date the policy was last revised is identified at the top of the page. The COVID-19 pandemic has had an unprecedented impact on global and North American social and economic conditions, and the situation surrounding the virus continues to be volatile and widespread. The increase in revenues was primarily due to higher demand and resulting shipping volumes in our highway products business. If we learn we have collected or received personal information from a child under 13 we will delete that information.
Railcars owned more than one year at the time of sale
Proceeds from disposition of property and other assets
Free Cash Flow is reconciled to net cash provided by operating activities from continuing operations, the most directly comparable GAAP financial measure, in the following table. The railcar backlog in the Rail Products Group decreased during the quarter to $1.6 billion as of March 31, 2020, representing 12,810 railcars, compared with a railcar backlog of $1.8 billion as of December 31, 2019, representing 15,085 railcars. “Coming into 2020, Trinity was rapidly and effectively executing on a number of optimization efforts to align with the Company’s go-forward business strategy as well as responding to the decline in railcar demand from the slowing industrial economy in the preceding year,” said Jean Savage, Trinity Industries CEO and President. In connection with the implementation of our rail-focused strategy, in the first quarter of 2020, we realigned certain logistics and central maintenance support activities previously reported in the All Other segment to now be presented within the Rail Products Group. These totals include sales of railcars owned for more than one year that are not reported as revenues. Non-GAAP measures should not be considered in isolation or as a substitute for our reporting results prepared in accordance with GAAP and, as calculated, may not be comparable to other similarly titled measures for other companies.
Because Trinity was able to respond to the pandemic without significant interruptions to the Company’s daily operations, the pandemic did not materially impact our financial results for the first quarter of 2020. Revenues for the first quarter of 2020 increased slightly to $615.2 million compared with revenues of $604.8 million for the same quarter of 2019 primarily due to a higher volume of railcars sold from our lease fleet. On an adjusted basis, earnings per common diluted share for the first quarter of 2020 decreased year over year to $0.11, which excludes the impacts of restructuring activities, early redemption of debt, and the tax impact of the CARES Act.
The Company expects that the economic impacts of the COVID-19 pandemic will negatively impact our financial results in the near term. Railcars owned more than one year at the time of sale Free Cash Flow before Capital expenditures – leasing ("Free Cash Flow") is a non-GAAP financial measure and is defined as net cash provided by operating activities from continuing operations as computed in accordance with GAAP, plus cash proceeds from sales of leased railcars owned more than one year at the time of sale, less cash payments for manufacturing capital expenditures and dividends. S&P, ITS CLIENT, AND ANY OTHER PROVIDERS OF THE INFORMATION EXPRESSLY DISCLAIM ALL WARRANTIES OF ANY KIND, EXPRESS OR IMPLIED, INCLUDING WITHOUT LIMITATION ANY WARRANTY OF ACCURACY, MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, OR NON-INFRINGEMENT.NEITHER, S&P, THE CLIENT NOR EITHER OF THEIR AFFILIATES, SHAREHOLDERS, OFFICERS, EMPLOYEES, AGENTS OR REPRESENTATIVES SHALL BE LIABLE FOR ANY INDIRECT, INCIDENTAL, EXEMPLARY , PUNITIVE SPECIAL OR CONSEQUENTIAL DAMAGES ARISING OUT OF OR RELATING TO THE SITE, THE USE OF OR INABILITY TO USE THE SITE, OR THE CONTENTS, EVEN IF SUCH PARTY HAS BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGES. Trinity EU Regional Privacy Administrator
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