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SEGMENTS

3 Months Ended

Mar. 31, 2020

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 (loss) 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 March 31, 2020						Commercial Trailer Products						Diversified Products						Final Mile Products						Corporate and Eliminations						Consolidated
Net sales
External customers						$	250,945					$	75,859					$	60,270					$	—					$	387,074
Intersegment sales						30						7,099						—						(7,129)						—
Total net sales						$	250,975					$	82,958					$	60,270					$	(7,129)					$	387,074
Income (loss) from operations						$	15,871					$	(6,070)					$	(108,041)					$	(11,816)					$	(110,056)
Assets						$	359,699					$	301,883					$	413,693					$	150,136					$	1,225,411
Three Months Ended March 31, 2019						Commercial Trailer Products						Diversified Products						Final Mile Products						Corporate and Eliminations						Consolidated
Net sales
External customers						$	340,145					$	92,180					$	100,849					$	—					$	533,174
Intersegment sales						900						7,468						—						(8,368)						—
Total net sales						$	341,045					$	99,648					$	100,849					$	(8,368)					$	533,174
Income (loss) from operations						$	26,321					$	8,044					$	1,869					$	(11,036)					$	25,198
Assets						$	359,999					$	345,577					$	489,534					$	213,522					$	1,408,632

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 March 31, 2020						Commercial Trailer Products						Diversified Products						Final Mile Products						Eliminations						Consolidated
New trailers						$	237,901					$	43,312					$	—					$	—					$	281,213					72.7		%
Used trailers						318						1,210						—						—						1,528						0.4		%
Components, parts and service						9,272						26,082						3,722						(7,100)						31,976						8.3		%
Equipment and other						3,484						12,354						56,548						(29)						72,357						18.7		%
Total net sales						$	250,975					$	82,958					$	60,270					$	(7,129)					$	387,074					100.0		%
Three Months Ended March 31, 2019						Commercial Trailer Products						Diversified Products						Final Mile Products						Eliminations						Consolidated
New trailers						$	325,819					$	45,799					$	—					$	—					$	371,618					69.7		%
Used trailers						137						587						—						—						724						0.1		%
Components, parts and service						10,333						35,884						3,416						(7,920)						41,713						7.8		%
Equipment and other						4,756						17,378						97,433						(448)						119,119						22.3		%
Total net sales						$	341,045					$	99,648					$	100,849					$	(8,368)					$	533,174					100.0		%

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- References

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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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