10.

SEGMENTS

a. Segment Reporting

The Company manages its business in three segments: Commercial Trailer Products, Diversified Products and Retail. The Commercial Trailer Products segment produces and sells new trailers to the Retail segment and to customers who purchase trailers directly from the Company or through independent dealers. The Diversified Products segment focuses on the Company’s commitment to expand its customer base, diversify its product offerings and revenues and extend its market leadership by leveraging its proprietary DuraPlate® panel technology, drawing on its core manufacturing expertise and making available products that are complementary to truck and tank trailers and transportation equipment. The Retail 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.

The Company has not allocated certain corporate related administrative costs, interest and income taxes included in the corporate and eliminations segment to the Company’s other reportable segments. The Company accounts for intersegment sales and transfers at cost plus a specified mark-up. Reportable segment information is as follows (in thousands):

	Commercial		Diversified				Corporate and
Three Months Ended March 31,	Trailer Products		Products		Retail		Eliminations		Consolidated
2016
Net Sales
External Customers	$	337,195	$	76,638	$	33,843	$	-	$	447,676
Intersegment Sales		17,653		2,786		194		(20,633)		-
Total Net Sales	$	354,848	$	79,424	$	34,037	$	(20,633)	$	447,676

Income (Loss) from operations	$	52,060	$	6,622	$	(149)	$	(10,348)	$	48,185
Assets	$	332,516	$	378,160	$	67,032	$	197,963	$	975,670

2015
Net Sales
External Customers	$	293,742	$	101,041	$	42,814	$	-	$	437,597
Intersegment Sales		20,762		2,951		326		(24,039)		-
Total Net Sales	$	314,504	$	103,992	$	43,140	$	(24,039)	$	437,597

Income (Loss) from operations	$	22,770	$	10,611	$	1,126	$	(7,244)	$	27,263
Assets	$	354,975	$	404,888	$	68,285	$	156,825	$	984,972

b. Product Information

The Company offers products primarily in four general categories: (1) new trailers, (2) used trailers, (3) components, parts and service and (4) equipment and other. The following table sets forth the major product categories and their percentage of consolidated net sales (dollars in thousands):

	Commercial		Diversified				Corporate and
	Trailer Products		Products		Retail		Eliminations		Consolidated
Three Months Ended March 31,	$		$		$		$		$		%
2016
New Trailers		347,582		29,776		11,839		(17,388)		371,809		83.1
Used Trailers		1,715		901		2,393		(256)		4,753		1.1
Components, parts and service		1,630		20,522		19,768		(2,985)		38,935		8.7
Equipment and other		3,921		28,225		37		(4)		32,179		7.1
Total net sales		354,848		79,424		34,037		(20,633)		447,676		100.0

2015
New Trailers		307,680		54,018		19,857		(20,283)		361,272		82.6
Used Trailers		2,170		1,169		2,571		(327)		5,583		1.3
Components, parts and service		1,391		23,463		19,941		(3,282)		41,513		9.5
Equipment and other		3,263		25,342		771		(147)		29,229		6.6
Total net sales		314,504		103,992		43,140		(24,039)		437,597		100.0