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SEGMENTS

9 Months Ended

Sep. 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 September 30, 2019		Commercial Trailer Products				Diversified Products				Final Mile Products				Corporate and Eliminations				Consolidated
Net sales
External customers		$	380,062			$	87,342			$	113,504			$	—			$	580,908
Intersegment sales		282				5,839				—				(6,121		)		—
Total net sales		$	380,344			$	93,181			$	113,504			$	(6,121	)		$	580,908
Income (loss) from operations		$	36,503			$	7,183			$	4,628			$	(10,045	)		$	38,269
Assets		$	364,436			$	327,343			$	507,402			$	179,422			$	1,378,603
Three Months Ended September 30, 2018		Commercial Trailer Products				Diversified Products				Final Mile Products				Corporate and Eliminations				Consolidated
Net sales
External customers		$	368,301			$	97,723			$	87,049			$	—			$	553,073
Intersegment sales		41				4,638				—				(4,679		)		—
Total net sales		$	368,342			$	102,361			$	87,049			$	(4,679	)		$	553,073
Income (loss) from operations		$	32,453			$	(6,346	)		$	(1,495	)		$	(8,099	)		$	16,513
Assets		$	358,150			$	352,494			$	475,934			$	163,629			$	1,350,207
Nine Months Ended September 30, 2019		Commercial Trailer Products				Diversified Products				Final Mile Products				Corporate and Eliminations				Consolidated
Net sales
External customers		$	1,120,608			$	270,357			$	349,170			$	—			$	1,740,135
Intersegment sales		1,645				19,498				—				(21,143		)		—
Total net sales		$	1,122,253			$	289,855			$	349,170			$	(21,143	)		$	1,740,135
Income (loss) from operations		$	102,742			$	24,138			$	15,718			$	(31,593	)		$	111,005
Assets		$	364,436			$	327,343			$	507,402			$	179,422			$	1,378,603
Nine Months Ended September 30, 2018		Commercial Trailer Products				Diversified Products				Final Mile Products				Corporate and Eliminations				Consolidated
Net sales
External customers		$	1,098,182			$	275,183			$	283,717			$	—			$	1,657,082
Intersegment sales		89				16,466				—				(16,555		)		—
Total net sales		$	1,098,271			$	291,649			$	283,717			$	(16,555	)		$	1,657,082
Income (loss) from operations		$	102,718			$	3,078			$	9,372			$	(26,959	)		$	88,209
Assets		$	358,150			$	352,494			$	475,934			$	163,629			$	1,350,207

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 September 30, 2019		Commercial Trailer Products				Diversified Products				Final Mile Products				Eliminations				Consolidated
New trailers		$	366,938			$	51,697			$	—			$	—			$	418,635			72.1	%
Used trailers		86				417				—				—				503				0.1	%
Components, parts and service		10,039				23,790				4,302				(5,960		)		32,171				5.5	%
Equipment and other		3,281				17,277				109,202				(161		)		129,599				22.3	%
Total net sales		$	380,344			$	93,181			$	113,504			$	(6,121	)		$	580,908			100.0	%
Three Months Ended September 30, 2018		Commercial Trailer Products				Diversified Products				Final Mile Products				Eliminations				Consolidated
New trailers		$	354,003			$	44,399			$	—			$	—			$	398,402			72.0	%
Used trailers		1,888				775				—				—				2,663				0.5	%
Components, parts and service		8,090				29,064				2,304				(4,676		)		34,782				6.3	%
Equipment and other		4,361				28,123				84,745				(3		)		117,226				21.2	%
Total net sales		$	368,342			$	102,361			$	87,049			$	(4,679	)		$	553,073			100.0	%
Nine Months Ended September 30, 2019		Commercial Trailer Products				Diversified Products				Final Mile Products				Eliminations				Consolidated
New trailers		$	1,078,599			$	146,821			$	—			$	—			$	1,225,420			70.4	%
Used trailers		236				1,743				—				—				1,979				0.1	%
Components, parts and service		30,994				88,681				12,165				(20,455		)		111,385				6.4	%
Equipment and other		12,424				52,610				337,005				(688		)		401,351				23.1	%
Total net sales		$	1,122,253			$	289,855			$	349,170			$	(21,143	)		$	1,740,135			100.0	%
Nine Months Ended September 30, 2018		Commercial Trailer Products				Diversified Products				Final Mile Products				Eliminations				Consolidated
New trailers		$	1,049,452			$	115,840			$	—			$	—			$	1,165,292			70.3	%
Used trailers		8,794				2,489				—				—				11,283				0.7	%
Components, parts and service		25,780				94,958				7,340				(16,529		)		111,549				6.7	%
Equipment and other		14,245				78,362				276,377				(26		)		368,958				22.3	%
Total net sales		$	1,098,271			$	291,649			$	283,717			$	(16,555	)		$	1,657,082			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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