XML 34 R23.htm IDEA: XBRL DOCUMENT
v3.19.2

SEGMENTS | 6 Months Ended
--- | ---
Jun. 30, 2019
Segment Reporting [Abstract] |
SEGMENTS | SEGMENTS a. Segment Reporting The Company manages its business in three segments: Commercial Trailer Products, Diversified Products, and Final Mile Products. The Commercial Trailer Products segment manufactures standard and customized van and platform trailers and other transportation related equipment for customers who purchase directly from the Company or through independent dealers. The Diversified Products segment, comprised of three strategic business units including, Tank Trailer, 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. The Final Mile Products segment manufactures truck bodies for customers in the final mile space. The accounting policies of the segments are the same as those described in the summary of significant accounting policies except that the Company evaluates segment performance based on income from operations. 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):
Three Months Ended June 30, 2019 |  | Commercial Trailer Products |  | Diversified Products |  | Final Mile Products |  | Corporate and Eliminations |  | Consolidated
Net sales |  |  |  |  |  |  |  |  |  |
External customers |  | $ | 400,401 |  |  | $ | 90,835 |  |  | $ | 134,817 |  |  | $ | — |  |  | $ | 626,053 |
Intersegment sales |  | 463 |  |  | 6,191 |  |  | — |  |  | (6,654 | ) |  | — |
Total net sales |  | $ | 400,864 |  |  | $ | 97,026 |  |  | $ | 134,817 |  |  | $ | (6,654 | ) |  | $ | 626,053 |
Income (loss) from operations |  | $ | 39,918 |  |  | $ | 8,911 |  |  | $ | 9,221 |  |  | $ | (10,512 | ) |  | $ | 47,538 |
Assets |  | $ | 358,880 |  |  | $ | 337,197 |  |  | $ | 496,733 |  |  | $ | 182,019 |  |  | $ | 1,374,829 |
Three Months Ended June 30, 2018 |  | Commercial Trailer Products |  | Diversified Products |  | Final Mile Products |  | Corporate and Eliminations |  | Consolidated
Net sales |  |  |  |  |  |  |  |  |  |
External customers |  | $ | 402,484 |  |  | $ | 88,997 |  |  | $ | 121,209 |  |  | $ | — |  |  | $ | 612,690 |
Intersegment sales |  | 23 |  |  | 5,088 |  |  | — |  |  | (5,111 | ) |  | — |
Total net sales |  | $ | 402,507 |  |  | $ | 94,085 |  |  | $ | 121,209 |  |  | $ | (5,111 | ) |  | $ | 612,690 |
Income (loss) from operations |  | $ | 40,784 |  |  | $ | 4,395 |  |  | $ | 10,258 |  |  | $ | (9,396 | ) |  | $ | 46,041 |
Assets |  | $ | 356,309 |  |  | $ | 353,757 |  |  | $ | 474,121 |  |  | $ | 184,944 |  |  | $ | 1,369,131 |
Six Months Ended June 30, 2019 |  | Commercial Trailer Products |  | Diversified Products |  | Final Mile Products |  | Corporate and Eliminations |  | Consolidated
Net sales |  |  |  |  |  |  |  |  |  |
External customers |  | $ | 740,546 |  |  | $ | 183,015 |  |  | $ | 235,666 |  |  | $ | — |  |  | $ | 1,159,227 |
Intersegment sales |  | 1,363 |  |  | 13,659 |  |  | — |  |  | (15,022 | ) |  | — |
Total net sales |  | $ | 741,909 |  |  | $ | 196,674 |  |  | $ | 235,666 |  |  | $ | (15,022 | ) |  | $ | 1,159,227 |
Income (loss) from operations |  | $ | 66,239 |  |  | $ | 16,955 |  |  | $ | 11,090 |  |  | $ | (21,548 | ) |  | $ | 72,736 |
Assets |  | $ | 358,880 |  |  | $ | 337,197 |  |  | $ | 496,733 |  |  | $ | 182,019 |  |  | $ | 1,374,829 |
Six Months Ended June 30, 2018 |  | Commercial Trailer Products |  | Diversified Products |  | Final Mile Products |  | Corporate and Eliminations |  | Consolidated
Net sales |  |  |  |  |  |  |  |  |  |
External customers |  | $ | 729,881 |  |  | $ | 177,460 |  |  | $ | 196,668 |  |  | $ | — |  |  | $ | 1,104,009 |
Intersegment sales |  | 48 |  |  | 11,828 |  |  | — |  |  | (11,876 | ) |  | — |
Total net sales |  | $ | 729,929 |  |  | $ | 189,288 |  |  | $ | 196,668 |  |  | $ | (11,876 | ) |  | $ | 1,104,009 |
Income (loss) from operations |  | $ | 70,265 |  |  | $ | 9,423 |  |  | $ | 10,867 |  |  | $ | (18,859 | ) |  | $ | 71,696 |
Assets |  | $ | 356,309 |  |  | $ | 353,757 |  |  | $ | 474,121 |  |  | $ | 184,944 |  |  | $ | 1,369,131 |
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):
Three Months Ended June 30, 2019 |  | Commercial Trailer Products |  | Diversified Products |  | Final Mile Products |  | Eliminations |  | Consolidated
New trailers |  | $ | 385,842 |  |  | $ | 49,325 |  |  | $ | — |  |  | $ | — |  |  | $ | 435,167 |  |  | 69.5 | %
Used trailers |  | 13 |  |  | 739 |  |  | — |  |  | — |  |  | 752 |  |  | 0.1 | %
Components, parts and service |  | 10,622 |  |  | 29,007 |  |  | 4,447 |  |  | (6,575 | ) |  | 37,501 |  |  | 6.0 | %
Equipment and other |  | 4,387 |  |  | 17,955 |  |  | 130,370 |  |  | (79 | ) |  | 152,633 |  |  | 24.4 | %
Total net sales |  | $ | 400,864 |  |  | $ | 97,026 |  |  | $ | 134,817 |  |  | $ | (6,654 | ) |  | $ | 626,053 |  |  | 100.0 | %
Three Months Ended June 30, 2018 |  | Commercial Trailer Products |  | Diversified Products |  | Final Mile Products |  | Eliminations |  | Consolidated
New trailers |  | $ | 385,131 |  |  | $ | 37,602 |  |  | $ | — |  |  | $ | — |  |  | $ | 422,733 |  |  | 69.0 | %
Used trailers |  | 2,499 |  |  | 628 |  |  | — |  |  | — |  |  | 3,127 |  |  | 0.5 | %
Components, parts and service |  | 9,042 |  |  | 31,926 |  |  | 2,623 |  |  | (5,091 | ) |  | 38,500 |  |  | 6.3 | %
Equipment and other |  | 5,835 |  |  | 23,929 |  |  | 118,586 |  |  | (20 | ) |  | 148,330 |  |  | 24.2 | %
Total net sales |  | $ | 402,507 |  |  | $ | 94,085 |  |  | $ | 121,209 |  |  | $ | (5,111 | ) |  | $ | 612,690 |  |  | 100.0 | %
Six Months Ended June 30, 2019 |  | Commercial Trailer Products |  | Diversified Products |  | Final Mile Products |  | Eliminations |  | Consolidated
New trailers |  | $ | 711,661 |  |  | $ | 95,124 |  |  | $ | — |  |  | $ | — |  |  | $ | 806,785 |  |  | 69.6 | %
Used trailers |  | 150 |  |  | 1,326 |  |  | — |  |  | — |  |  | 1,476 |  |  | 0.1 | %
Components, parts and service |  | 20,955 |  |  | 64,891 |  |  | 7,863 |  |  | (14,495 | ) |  | 79,214 |  |  | 6.8 | %
Equipment and other |  | 9,143 |  |  | 35,333 |  |  | 227,803 |  |  | (527 | ) |  | 271,752 |  |  | 23.4 | %
Total net sales |  | $ | 741,909 |  |  | $ | 196,674 |  |  | $ | 235,666 |  |  | $ | (15,022 | ) |  | $ | 1,159,227 |  |  | 100.0 | %
Six Months Ended June 30, 2018 |  | Commercial Trailer Products |  | Diversified Products |  | Final Mile Products |  | Eliminations |  | Consolidated
New trailers |  | $ | 695,449 |  |  | $ | 71,441 |  |  | $ | — |  |  | $ | — |  |  | $ | 766,890 |  |  | 69.5 | %
Used trailers |  | 6,906 |  |  | 1,714 |  |  | — |  |  | — |  |  | 8,620 |  |  | 0.8 | %
Components, parts and service |  | 17,690 |  |  | 65,894 |  |  | 5,036 |  |  | (11,853 | ) |  | 76,767 |  |  | 7.0 | %
Equipment and other |  | 9,884 |  |  | 50,239 |  |  | 191,632 |  |  | (23 | ) |  | 251,732 |  |  | 7.2 | %
Total net sales |  | $ | 729,929 |  |  | $ | 189,288 |  |  | $ | 196,668 |  |  | $ | (11,876 | ) |  | $ | 1,104,009 |  |  | 100.0 | %

X
- References No definition available. + Details
Name: | us-gaap_SegmentReportingAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- 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://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -URI http://asc.fasb.org/topic&trid=2134510 + Details
Name: | us-gaap_SegmentReportingDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration