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v3.25.2

Segment Information (Tables) | 6 Months Ended
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Jun. 30, 2025
Segment Reporting [Abstract] |
Schedule of Segment Reporting Information, by Segment [Table Text Block] | The financial information for these segments is shown in the tables below (in millions). We operate principally in North America.
| Three Months Ended June 30, 2025 |  | Three Months Ended June 30, 2024
| Railcar Leasing and Services Group |  | Rail Products Group |  | Total |  | Railcar Leasing and Services Group |  | Rail Products Group |  | Total
External revenues | $ | 302.1 |  |  | $ | 204.1 |  |  | $ | 506.2 |  |  | $ | 280.5 |  |  | $ | 560.9 |  |  | $ | 841.4 |
Intersegment revenues | 0.3 |  |  | 89.4 |  |  | 89.7 |  |  | 0.9 |  |  | 73.3 |  |  | 74.2 |
Total revenues | 302.4 |  |  | 293.5 |  |  | 595.9 |  |  | 281.4 |  |  | 634.2 |  |  | 915.6 |
Elimination of intersegment revenues |  |  |  |  | (89.7) |  |  |  |  |  |  | (74.2) |
Total consolidated revenues |  |  |  |  | $ | 506.2 |  |  |  |  |  |  | $ | 841.4 |
Less (1): |  |  |  |  |  |  |  |  |  |  |
Rail Products Group cost of revenues (2) | * |  | 277.9 |  |  |  |  | * |  | 576.0 |  |  |
Depreciation and amortization for Company-owned railcars (3) | 61.8 |  |  | * |  |  |  | 60.1 |  |  | * |  |
Maintenance and compliance for Company-owned railcars (3)(4) | 43.1 |  |  | * |  |  |  | 35.0 |  |  | * |  |
Selling, engineering, and administrative expenses | 13.9 |  |  | 6.7 |  |  |  |  | 20.0 |  |  | 7.8 |  |  |
Gains on lease portfolio sales | (7.8) |  |  | * |  |  |  | (22.7) |  |  | * |  |
Other segment items (5) | 72.8 |  |  | — |  |  |  |  | 61.0 |  |  | — |  |  |
Segment operating profit | $ | 118.6 |  |  | $ | 8.9 |  |  | $ | 127.5 |  |  | $ | 128.0 |  |  | $ | 50.4 |  |  | $ | 178.4 |
| Six Months Ended June 30, 2025 |  | Six Months Ended June 30, 2024
| Railcar Leasing and Services Group |  | Rail Products Group |  | Total |  | Railcar Leasing and Services Group |  | Rail Products Group |  | Total
External revenues | $ | 589.3 |  |  | $ | 502.3 |  |  | $ | 1,091.6 |  |  | $ | 564.8 |  |  | $ | 1,086.2 |  |  | $ | 1,651.0 |
Intersegment revenues | 0.5 |  |  | 211.7 |  |  | 212.2 |  |  | 1.8 |  |  | 215.4 |  |  | 217.2 |
Total revenues | 589.8 |  |  | 714.0 |  |  | 1,303.8 |  |  | 566.6 |  |  | 1,301.6 |  |  | 1,868.2 |
Elimination of intersegment revenues |  |  |  |  | (212.2) |  |  |  |  |  |  | (217.2) |
Total consolidated revenues |  |  |  |  | $ | 1,091.6 |  |  |  |  |  |  | $ | 1,651.0 |
Less (1): |  |  |  |  |  |  |  |  |  |  |
Rail Products Group cost of revenues (2) | * |  | 665.6 |  |  |  |  | * |  | 1,191.9 |  |  |
Depreciation and amortization for Company-owned railcars (3) | 122.9 |  |  | * |  |  |  | 120.0 |  |  | * |  |
Maintenance and compliance for Company-owned railcars (3)(4) | 81.1 |  |  | * |  |  |  | 65.4 |  |  | * |  |
Selling, engineering, and administrative expenses | 32.6 |  |  | 13.6 |  |  |  |  | 38.1 |  |  | 15.5 |  |  |
Gains on lease portfolio sales | (13.7) |  |  | * |  |  |  | (24.8) |  |  | * |  |
Other segment items (5) | 143.8 |  |  | — |  |  |  |  | 139.6 |  |  | — |  |  |
Segment operating profit | $ | 223.1 |  |  | $ | 34.8 |  |  | $ | 257.9 |  |  | $ | 228.3 |  |  | $ | 94.2 |  |  | $ | 322.5 |
*Not identified as a significant expense for this segment. (1) Significant expense categories and amounts align with the segment-level information that is regularly provided to and reviewed by the CODM. Intersegment expenses are included within the amounts shown. (2) Cost of revenues in the Rail Products Group primarily includes materials, labor, and overhead, including depreciation and amortization. (3) Company-owned railcars include wholly-owned railcars, partially-owned railcars, and railcars under leased-in arrangements. (4) Maintenance and compliance expense is reported at cost with respect to the services performed by our maintenance services business to support the railcars in our lease fleet. (5) Other segment items for each reportable segment include: –Railcar Leasing and Services Group: the remaining operating costs for our maintenance services and digital and logistics services businesses, including materials, labor, and overhead costs; other operating costs for the lease fleet, including equipment rental, property taxes, and freight and storage expenses; and gains or losses on dispositions of other property. –Rail Products Group: (gains) or losses on dispositions of other property.
Reconciliation of Operating Profit (Loss) from Segments to Consolidated | The reconciliation of segment operating profit to consolidated net income is as follows:
| Three Months Ended June 30, |  | Six Months Ended June 30,
| 2025 |  | 2024 |  | 2025 |  | 2024
| (in millions)
Operating profit: |  |  |  |  |  |  |
Railcar Leasing and Services Group | $ | 118.6 |  |  | $ | 128.0 |  |  | $ | 223.1 |  |  | $ | 228.3 |
Rail Products Group | 8.9 |  |  | 50.4 |  |  | 34.8 |  |  | 94.2 |
Segment Totals | 127.5 |  |  | 178.4 |  |  | 257.9 |  |  | 322.5 |
Corporate and other | (26.5) |  |  | (33.3) |  |  | (50.9) |  |  | (59.8) |
Eliminations | (5.6) |  |  | (3.2) |  |  | (11.8) |  |  | (5.6) |
Consolidated operating profit | 95.4 |  |  | 141.9 |  |  | 195.2 |  |  | 257.1 |
Other (income) expense | 69.4 |  |  | 66.7 |  |  | 132.8 |  |  | 139.2 |
Provision (benefit) for income taxes | 4.1 |  |  | 17.1 |  |  | 11.5 |  |  | 28.1 |
Loss from discontinued operations, net of income taxes | (1.9) |  |  | (1.7) |  |  | (3.8) |  |  | (6.0) |
Net income | $ | 20.0 |  |  | $ | 56.4 |  |  | $ | 47.1 |  |  | $ | 83.8 |
Segment, Reconciliation of Other Items from Segments to Consolidated | Additional financial information by segment is shown in the tables below.
| Total Assets
| June 30, 2025 |  | December 31, 2024
| (in millions)
Railcar Leasing and Services Group | $ | 8,265.5 |  |  | $ | 8,151.7 |
Rail Products Group | 893.4 |  |  | 967.7 |
Segment Totals | 9,158.9 |  |  | 9,119.4 |
Corporate and other | 318.6 |  |  | 383.3 |
Eliminations | (667.5) |  |  | (670.5) |
Total assets | $ | 8,810.0 |  |  | $ | 8,832.2 |
| Depreciation & Amortization |  | Capital Expenditures
| Three Months Ended June 30, |  | Three Months Ended June 30,
| 2025 |  | 2024 |  | 2025 |  | 2024
| (in millions)
Railcar Leasing and Services Group | $ | 67.4 |  |  | $ | 65.6 |  |  | $ | 179.1 |  |  | $ | 91.4 |
Rail Products Group | 6.9 |  |  | 7.1 |  |  | 4.6 |  |  | 4.8 |
Corporate and other | 0.9 |  |  | 1.1 |  |  | 0.5 |  |  | 0.3 |
Total | $ | 75.2 |  |  | $ | 73.8 |  |  | $ | 184.2 |  |  | $ | 96.5 |
| Depreciation & Amortization |  | Capital Expenditures
| Six Months Ended June 30, |  | Six Months Ended June 30,
| 2025 |  | 2024 |  | 2025 |  | 2024
| (in millions)
Railcar Leasing and Services Group | $ | 133.9 |  |  | $ | 131.0 |  |  | $ | 301.6 |  |  | $ | 241.4 |
Rail Products Group | 13.9 |  |  | 14.0 |  |  | 11.2 |  |  | 6.9 |
Corporate and other | 1.7 |  |  | 2.2 |  |  | 0.8 |  |  | 0.3 |
Total | $ | 149.5 |  |  | $ | 147.2 |  |  | $ | 313.6 |  |  | $ | 248.6 |

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- Definition Tabular disclosure of the reconciliation of profit (loss) from reportable segments to the consolidated income (loss) before income tax expense (benefit) and discontinued operations. Includes, but is not limited to, reconciliation after income tax if income tax is allocated to the reportable segment. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-31 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-30 + Details
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- Definition Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 25 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-25 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-22 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-30 + Details
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