Today, Greenbrier announced that effective March 1, our founder, Bill Furman will transition to the role of Executive Chairman and the appointment of Lorie Tekorius as Greenbrier's next CEO and President.
It was also Greenbrier's third consecutive quarter with a book-to-bill ratio over 1 leading to a book-to-bill of 1.33 for fiscal 2021.
Safety, availability of labor and supply chain constraints are key priorities for Greenbrier to manage as production increases.
In the quarter, Greenbrier delivered 4500 railcars, including 400 units in Brazil.
Q4 deliveries increased 36% from Q3, reflecting manufacturing successful ramping of production over the last six months.
And while hiring is currently challenging in the US, we're fortunate to have a strong and talented labor pool in Mexico, allowing us to add over 500 employees during the quarter and over the last nine months, we've added nearly 2000 employees in our manufacturing business.
Nearly 70 million of railcars were contributed into GBX Leasing in Q4, bringing the total market value of assets in fiscal 2021 to almost $200 million.
Subsequent to year end, we acquired a portfolio of 3600 railcars, a portion of which will also be held in GBX Leasing.
Our GBX Leasing fleet is valued at $350 million at the end of September and continues to gain momentum.
Our capital markets team syndicated 1000 units in the quarter and continues to generate liquidity and profitability.
In Greenbrier's fourth quarter, we had a book-to-bill of 1.5, reflecting deliveries of 4500 units and orders of 6700 units.
For fiscal '21, Greenbrier generated orders of 17,200 units and deliveries of 13,000 units, which equates to a book-to-bill of 1.3.
International order activity accounted for approximately 30% of this new railcar order activity.
New railcar backlog grew by 2000 units or nearly $400 million of value to 26,600 units with an estimated market value of $2.8 billion.
Greenbrier's lease fleet utilization ended on August 21 at roughly 94% and has grown to over 96% year to date.
Highlights for the fourth quarter include revenue of $599.2 million, an increase of over 33% from Q3.
Aggregate gross margins of 16.4%, driven by stronger operating performance as a result of increased production rates, syndication activity and lease modification fees.
Selling and administrative expense of $55.4 million increased sequentially as a result of higher employee-related costs.
Adjusted net earnings attributable to Greenbrier of $32.9 million or $0.98 per share excludes $1.2 million or $0.03 per share of debt extinguishment losses.
EBITDA of $70.4 million or 11.8% of revenue.
The effective tax rate in the quarter was a benefit of 14.5%.
In the quarter, we recognized $1.6 million of gross costs specifically related to COVID-19 employee and facility safety.
In 2021, we spent nearly $10 million, ensuring our employees and facilities could operate safely.
Adjusted net earnings for the year attributable to Greenbrier was $37.2 million or $1.10 per share on revenue of $1.7 billion and excludes $4.7 million net of tax or $0.14 per share of debt extinguishment loses.
EBITDA for the year was $145.2 million or 8.3% of revenue.
Greenbrier has a strong balance sheet and with liquidity of $835 million comprising cash of $647 million and available borrowings of $188 million, we are well positioned to navigate the market disruptions that we expect to persist into calendar 2022.
You may have noticed the tax receivable has grown to a $112 million as of August 31.
In the fourth quarter, Greenbrier completed almost $1.1 billion of debt refinancing, extending the maturities of our domestic revolving facility and two term loans into 2026 and 2027.
In addition to the GBX Leasing, railcar and warehouse credit facility, Greenbrier's Legacy lease fleet is partially levered with a $200 million six year term loan while the remaining fleet assets serve as collateral in Greenbrier's $600 million US revolving facility.
Also in the quarter, we repurchased an additional $20 million of senior convertible notes due in 2024 and maybe from time to time retire additional outstanding 2024 notes in privately negotiated transactions within the limitations of applicable securities regulations.
Overall in fiscal 2021, Greenbrier completed $1.8 billion of financing activity including $1.5 billion of debt refinancing and the creation of the $300 million GBX Leasing warehouse credit facilities.
Today, we announced a dividend of $0.27 per share, which is our 30th consecutive dividend.
Based on current business trends and production schedules, we expect Greenbrier's fiscal 2022 to reflect deliveries of 16,000 to 18,000 units, which include approximately 1,500 units from Greenbrier Maxion in Brazil.
Selling and administrative expenses are expected to be approximately $200 million to $210 million.
Capital expenditures of approximately $275 million in leasing and services, $55 million in manufacturing and $10 million in wheels repair and parts.
Production reflects more competitive pricing taken during the pandemic 9 to 12 months ago.
We expect deliveries to be back half weighted with a 40% front half, 60% back half left [Phonetic].
In fiscal 2022, approximately 1400 units are expected to be built and capitalized into our lease fleet.

Summary:
Today, Greenbrier announced that effective March 1, our founder, Bill Furman will transition to the role of Executive Chairman and the appointment of Lorie Tekorius as Greenbrier's next CEO and President.
Safety, availability of labor and supply chain constraints are key priorities for Greenbrier to manage as production increases.
Adjusted net earnings attributable to Greenbrier of $32.9 million or $0.98 per share excludes $1.2 million or $0.03 per share of debt extinguishment losses.
In addition to the GBX Leasing, railcar and warehouse credit facility, Greenbrier's Legacy lease fleet is partially levered with a $200 million six year term loan while the remaining fleet assets serve as collateral in Greenbrier's $600 million US revolving facility.