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SEGMENTS | 9 Months Ended
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Sep. 30, 2011
SEGMENTS |
9. | SEGMENTS
a. Segment Reporting The Company has two reportable segments: manufacturing and retail and distribution. The manufacturing segment produces and sells new trailers to the retail and distribution segment or to customers who purchase trailers directly from the Company or through independent dealers. The retail and distribution segment includes the sale of new and used trailers, as well as the sale of after-market parts and service, through its retail branch network. Reportable segment information is as follows (in thousands):
|  |  |  |  | Retail and |  |  |  |  |  | Consolidated |
|  | Manufacturing |  |  | Distribution |  |  | Eliminations |  |  | Totals |
Three Months Ended September 30, 2011 |  |  |  |  |  |  |  |  |  |  |  |
Net sales |  |  |  |  |  |  |  |  |  |  |  |
External customers |  | $ | 302,761 |  |  | $ | 33,672 |  |  | $ | - |  |  | $ | 336,433 |
Intersegment sales |  |  | 14,544 |  |  |  | - |  |  |  | (14,544 | ) |  |  | - |
Total net sales |  | $ | 317,305 |  |  | $ | 33,672 |  |  | $ | (14,544 | ) |  | $ | 336,433 |
Income (Loss) from operations |  | $ | 1,303 |  |  | $ | 979 |  |  | $ | (12 | ) |  | $ | 2,270 |
Assets |  | $ | 711,319 |  |  | $ | 140,845 |  |  | $ | (433,659 | ) |  | $ | 418,505 |
Three Months Ended September 30, 2010 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net sales |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
External customers |  | $ | 143,813 |  |  | $ | 27,035 |  |  | $ | - |  |  | $ | 170,848 |
Intersegment sales |  |  | 10,732 |  |  |  | - |  |  |  | (10,732 | ) |  |  | - |
Total net sales |  | $ | 154,545 |  |  | $ | 27,035 |  |  | $ | (10,732 | ) |  | $ | 170,848 |
(Loss) Income from operations |  | $ | (4,588 | ) |  | $ | 391 |  |  | $ | (9 | ) |  | $ | (4,206 | )
Assets |  | $ | 434,234 |  |  | $ | 97,277 |  |  | $ | (229,921 | ) |  | $ | 301,590 |
Nine Months Ended September 30, 2011 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net sales |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
External customers |  | $ | 743,376 |  |  | $ | 102,136 |  |  | $ | - |  |  | $ | 845,512 |
Intersegment sales |  |  | 45,979 |  |  |  | - |  |  |  | (45,979 | ) |  |  | - |
Total net sales |  | $ | 789,355 |  |  | $ | 102,136 |  |  | $ | (45,979 | ) |  | $ | 845,512 |
Income from operations |  | $ | 9,430 |  |  | $ | 1,864 |  |  | $ | 102 |  |  | $ | 11,396 |
Assets |  | $ | 711,319 |  |  | $ | 140,845 |  |  | $ | (433,659 | ) |  | $ | 418,505 |
Nine Months Ended September 30, 2010 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net sales |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
External customers |  | $ | 325,985 |  |  | $ | 72,837 |  |  | $ | - |  |  | $ | 398,822 |
Intersegment sales |  |  | 24,082 |  |  |  | - |  |  |  | (24,082 | ) |  |  | - |
Total net sales |  | $ | 350,067 |  |  | $ | 72,837 |  |  | $ | (24,082 | ) |  | $ | 398,822 |
Loss from operations |  | $ | (20,920 | ) |  | $ | (131 | ) |  | $ | (102 | ) |  | $ | (21,153 | )
Assets |  | $ | 434,234 |  |  | $ | 97,277 |  |  | $ | (229,921 | ) |  | $ | 301,590 |
b. Product Information The Company offers products primarily in three general categories: new trailers, used trailers and parts, service and other. The following table sets forth the major product categories and their percentage of consolidated net sales (dollars in thousands):
|  | Three Months Ended September 30, |  |  | Nine Months Ended September 30, |
|  | 2011 |  |  | 2010 |  |  | 2011 |  |  | 2010 |
|  | $ |  |  | % |  |  | $ |  |  | % |  |  | $ |  |  | % |  |  | $ |  |  | % |
New trailers |  |  | 303,089 |  |  |  | 90.1 |  |  |  | 148,753 |  |  |  | 87.1 |  |  |  | 748,900 |  |  |  | 88.6 |  |  |  | 330,317 |  |  |  | 82.8 |
Used trailers |  |  | 8,266 |  |  |  | 2.5 |  |  |  | 5,235 |  |  |  | 3.1 |  |  |  | 19,353 |  |  |  | 2.3 |  |  |  | 18,034 |  |  |  | 4.5 |
Parts, service and other |  |  | 25,078 |  |  |  | 7.4 |  |  |  | 16,860 |  |  |  | 9.8 |  |  |  | 77,259 |  |  |  | 9.1 |  |  |  | 50,471 |  |  |  | 12.7 |
Total net sales |  |  | 336,433 |  |  |  | 100.0 |  |  |  | 170,848 |  |  |  | 100.0 |  |  |  | 845,512 |  |  |  | 100.0 |  |  |  | 398,822 |  |  |  | 100.0

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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/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 12 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8595-108599 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 10 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8538-108599 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 33 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8971-108599 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 34 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8981-108599 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 29 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8864-108599 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8380-108599 Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 35 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8984-108599 Reference 8: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 41 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e9038-108599 Reference 9: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8933-108599 Reference 10: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 131 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 11: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8906-108599 Reference 12: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 26 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8844-108599 Reference 13: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 40 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e9031-108599 Reference 14: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 42 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e9054-108599 Reference 15: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8924-108599 + Details
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