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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	%

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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://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-URI http://asc.fasb.org/topic&trid=2134510

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