10.

SEGMENTS

a. Segment Reporting

During the second quarter of 2016, the Company realigned its reporting segments into two segments: Commercial Trailer Products and Diversified Products. As a result of the realignment, the businesses previously operating within the former retail segment are now reported under one of these two segments. The Commercial Trailer Products segment manufactures standard and customized van and platform trailers, truck bodies and other transportation related equipment to customers who purchase directly from the Company, through independent dealers or Company owned branch locations through which the Company offers additional service and support. The Diversified Products segment, comprised of four strategic business units including, Tank Trailer, Aviation & Truck Equipment, Process Systems and Composites, 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.

Financial performance for each of the Company’s reporting segments below has been restated to reflect the realignment. 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		Eliminations		Consolidated
2017
Net Sales
External Customers	$	274,750	$	87,966	$	-	$	362,716
Intersegment Sales		39		1,944		(1,983)		-
Total Net Sales	$	274,789	$	89,910	$	(1,983)	$	362,716

Income (Loss) from operations	$	33,392	$	4,604	$	(7,732)	$	30,264
Assets	$	323,001	$	375,338	$	250,944	$	949,283

2016
Net Sales
External Customers	$	364,031	$	83,645	$	-	$	447,676
Intersegment Sales		9		2,644		(2,653)		-
Total Net Sales	$	364,040	$	86,289	$	(2,653)	$	447,676

Income (Loss) from operations	$	50,257	$	6,990	$	(9,062)	$	48,185
Assets	$	386,598	$	396,092	$	192,980	$	975,670

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		Eliminations		Consolidated
Three Months Ended March 31,	$		$		$		$		%
2017
New Trailers		257,190		30,695		-		287,885		79.4
Used Trailers		887		1,219		-		2,106		0.6
Components, parts and service		12,743		33,675		(1,983)		44,435		12.3
Equipment and other		3,969		24,321		-		28,290		7.7
Total net sales		274,789		89,910		(1,983)		362,716		100.0

2016
New Trailers		342,033		29,776		-		371,809		83.1
Used Trailers		3,852		901		-		4,753		1.1
Components, parts and service		14,203		27,388		(2,653)		38,938		8.7
Equipment and other		3,952		28,224		-		32,176		7.1
Total net sales		364,040		86,289		(2,653)		447,676		100.0