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Note 4. Segment Information | 12 Months Ended
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Dec. 31, 2022
Segment Information [Abstract] |
Segment Reporting Disclosure [Text Block] | Segment Information We report our operating results in two reportable segments: (1) the Railcar Leasing and Management Services Group, which owns and operates a fleet of railcars and provides third-party fleet leasing, management, and administrative services; and (2) the Rail Products Group, which manufactures and sells railcars and related parts and components, and provides railcar maintenance and modification services. Following the sale of THP, which was previously reported within All Other, we have combined the results of the prior Corporate and All Other groupings into a single Corporate and other grouping. The remaining activity previously reported in All Other primarily includes legal, environmental, and maintenance costs associated with non-operating facilities. Results of prior periods have been recast to reflect these changes and present results on a comparable basis. Gains and losses from the sale of property, plant, and equipment are included in the operating profit of each respective segment. Our Chief Operating Decision Maker ("CODM") regularly reviews the operating results of our reportable segments in order to assess performance and allocate resources. Our CODM does not consider impairment of long-lived assets or restructuring activities when evaluating segment operating results; therefore, impairment of long-lived assets and restructuring activities are not allocated to segment profit or loss. Sales and related net profits ("deferred profit") from the Rail Products Group to the Leasing Group are recorded in the Rail Products Group and eliminated in consolidation and are reflected in "Eliminations - Lease subsidiary" in the tables below. Sales between these groups are recorded at prices comparable to those charged to external customers, taking into consideration quantity, features, and production demand. Amortization of deferred profit on railcars sold to the Leasing Group is included in the operating profit of the Leasing Group, resulting in the recognition of depreciation expense based on our original manufacturing cost of the railcars. Lease portfolio sales are included in the Leasing Group, with related gains and losses computed based on the net book value of the original manufacturing cost of the railcars. The financial information for these segments is shown in the tables below (in millions).
| Year Ended December 31, 2022
| Railcar Leasing and Management Services Group |  | Rail Products Group |  | Corporate and other |  | Eliminations – Lease Subsidiary |  | Eliminations – Other |  | Consolidated Total
External revenue | $ | 769.8 |  |  | $ | 1,207.5 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 1,977.3 |
Intersegment revenue | 0.8 |  |  | 867.2 |  |  | — |  |  | (867.2) |  |  | (0.8) |  |  | — |
Total revenues | $ | 770.6 |  |  | $ | 2,074.7 |  |  | $ | — |  |  | $ | (867.2) |  |  | $ | (0.8) |  |  | $ | 1,977.3 |
Depreciation & amortization | $ | 236.4 |  |  | $ | 34.8 |  |  | $ | 5.2 |  |  | $ | — |  |  | $ | — |  |  | $ | 276.4 |
Capital expenditures | $ | 928.8 |  |  | $ | 35.7 |  |  | $ | 2.3 |  |  | $ | — |  |  | $ | — |  |  | $ | 966.8 |
| Year Ended December 31, 2021
| Railcar Leasing and Management Services Group |  | Rail Products Group |  | Corporate and other |  | Eliminations – Lease Subsidiary |  | Eliminations – Other |  | Consolidated Total
External revenue | $ | 734.6 |  |  | $ | 781.4 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 1,516.0 |
Intersegment revenue | 0.7 |  |  | 483.4 |  |  | — |  |  | (478.5) |  |  | (5.6) |  |  | — |
Total revenues | $ | 735.3 |  |  | $ | 1,264.8 |  |  | $ | — |  |  | $ | (478.5) |  |  | $ | (5.6) |  |  | $ | 1,516.0 |
Depreciation & amortization | $ | 226.0 |  |  | $ | 33.6 |  |  | $ | 6.1 |  |  | $ | — |  |  | $ | — |  |  | $ | 265.7 |
Capital expenditures | $ | 547.2 |  |  | $ | 21.3 |  |  | $ | 2.3 |  |  | $ | — |  |  | $ | — |  |  | $ | 570.8 |
| Year Ended December 31, 2020
| Railcar Leasing and Management Services Group |  | Rail Products Group |  | Corporate and other |  | Eliminations – Lease Subsidiary |  | Eliminations – Other |  | Consolidated Total
External revenue | $ | 801.5 |  |  | $ | 948.2 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 1,749.7 |
Intersegment revenue | 0.8 |  |  | 661.3 |  |  | — |  |  | (652.9) |  |  | (9.2) |  |  | — |
Total revenues | $ | 802.3 |  |  | $ | 1,609.5 |  |  | $ | — |  |  | $ | (652.9) |  |  | $ | (9.2) |  |  | $ | 1,749.7 |
Depreciation & amortization | $ | 214.7 |  |  | $ | 35.1 |  |  | $ | 8.7 |  |  | $ | — |  |  | $ | — |  |  | $ | 258.5 |
Capital expenditures | $ | 602.2 |  |  | $ | 78.5 |  |  | $ | 17.4 |  |  | $ | — |  |  | $ | — |  |  | $ | 698.1 |
The reconciliation of segment operating profit (loss) to consolidated net income (loss) is as follows:
| Year Ended December 31,
| 2022 |  | 2021 |  | 2020
| (in millions)
Operating profit (loss): |  |  |  |  |
Railcar Leasing and Management Services Group | $ | 423.3 |  |  | $ | 350.9 |  |  | $ | 353.7 |
Rail Products Group | 59.1 |  |  | 4.7 |  |  | 36.3 |
Segment Totals | 482.4 |  |  | 355.6 |  |  | 390.0 |
Corporate and other | (80.8) |  |  | (84.1) |  |  | (99.7) |
Impairment of long-lived assets | — |  |  | — |  |  | (396.4) |
Restructuring activities, net | (1.0) |  |  | 3.7 |  |  | (10.9) |
Eliminations – Lease Subsidiary | (65.2) |  |  | (17.2) |  |  | (35.2) |
Eliminations – Other | (1.4) |  |  | (1.2) |  |  | (2.4) |
Consolidated operating profit (loss) | 334.0 |  |  | 256.8 |  |  | (154.6) |
Other (income) expense | 207.5 |  |  | 201.6 |  |  | 370.0 |
Provision (benefit) for income taxes | 27.6 |  |  | 15.9 |  |  | (274.1) |
Income (loss) from discontinued operations, net of income taxes | (20.3) |  |  | 11.1 |  |  | 24.3 |
Gain (loss) on sale of discontinued operations, net of income taxes | (5.7) |  |  | 131.4 |  |  | — |
Net income (loss) | $ | 72.9 |  |  | $ | 181.8 |  |  | $ | (226.2) |
Total assets for these segments is shown in the table below.
| December 31, 2022 |  | December 31, 2021
| (in millions)
Railcar Leasing and Management Services Group | $ | 7,779.9 |  |  | $ | 7,585.4 |
Rail Products Group | 1,440.5 |  |  | 1,064.4 |
Segment Totals | 9,220.4 |  |  | 8,649.8 |
Corporate and other | 267.2 |  |  | 365.2 |
Eliminations – Lease Subsidiary | (763.3) |  |  | (779.1) |
Total assets | $ | 8,724.3 |  |  | $ | 8,235.9 |
Corporate and other assets are composed of cash and cash equivalents, short-term marketable securities, notes receivable, certain property, plant, and equipment, and other assets. We operate principally in North America. Our foreign operations are primarily located in Mexico. Revenues and operating profit for our Mexico operations for the years ended December 31, 2022, 2021, and 2020 were not significant in relation to the Consolidated Financial Statements. Total assets for our Mexico operations as of December 31, 2022 and 2021 are $571.7 million and $414.8 million, respectively. Total long-lived assets for our Mexico operations as of December 31, 2022 and 2021 are $96.3 million and $102.0 million, respectively. One customer in the Rail Products Group comprised approximately 17%, 22%, and 16% of our consolidated revenues during the years ended December 31, 2022, 2021, and 2020, respectively.

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- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8924-108599 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 34 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8981-108599 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 21 -Subparagraph (a) -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8721-108599 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 40 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e9031-108599 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (f) -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8933-108599 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (e) -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8933-108599 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 26 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8844-108599 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 41 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e9038-108599 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (d) -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8933-108599 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8736-108599 Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 42 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e9054-108599 Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 15 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8657-108599 Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 21 -Subparagraph (b) -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8721-108599 Reference 14: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -URI https://asc.fasb.org/topic&trid=2134510 + Details
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