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SEGMENTS
 12 Months Ended
Dec. 31, 2021
Segment Reporting [Abstract]  
SEGMENTS SEGMENTS
Segment Reporting
The Company has historically managed its business in three segments: CTP, DPG, and FMP. The Company began its One Wabash organizational transformation during the first quarter of 2020 to better align its resources and processes on serving the customer and enable long-term growth. In connection with the substantial completion of the Company’s One Wabash strategic initiatives during Q3 2021, including organizational and structural changes as well as portfolio rationalization, beginning in September 2021 the Company realigned its operating and reportable segments based on how the CODM manages the business, allocates resources, makes operating decisions, and evaluates operating performance. Based on this realignment, the Company eliminated the historical CTP, DPG, and FMP segments and established two operating and reportable segments: TS and P&S.
While the Company has historically generated a small portion of its revenue and profitability from streams like aftermarket parts, repair and maintenance services, and upfitting and equipment services, historically these businesses existed scattered throughout the Company’s siloed organization structure. During the One Wabash transformation that culminated with segment realignment, the Company brought these previously siloed businesses together to leverage the Company’s strengths and better reach the customer, which included shifting significant resources and talent to lead these parts and services businesses. The Company continues to formulate aggressive plans that now underpin growth initiatives under the One Wabash approach.
Additional information related to the composition of each segment is included below.
▪Transportation Solutions (“TS”): The TS segment comprises the design and manufacturing operations for the Company’s transportation-related equipment and products. This includes dry and refrigerated van trailers, platform trailers, and the Company’s wood flooring production facility, all of which were previously reported in the CTP segment. The Company’s EcoNex™ products that were historically included in both the CTP and FMP segments are now reported in the TS segment. In addition, the TS segment includes tank trailers and truck-mounted tanks that were historically reported in the DPG segment. Finally, truck-mounted dry and refrigerated bodies and service and stake bodies that were previously reported in the FMP segment are also in the TS segment.
▪Parts & Services (“P&S”): The P&S segment is comprised of each of the Company’s historical segments’ parts and services businesses as well as the upfitting component of our truck bodies business. In addition, the Company’s Composites business, which focuses on the use of DuraPlate® composite panels beyond the semi-trailer market, is also part of the P&S segment (previously reported in the DPG segment). Finally, the P&S segment includes the Company’s Engineered Products business (previously reported in the DPG segment), including stainless-steel storage tanks and silos, mixers, and processors for a variety of end markets. Growing and expanding the parts and services businesses is a key strategic initiative for the Company moving forward.
The accounting policies of the TS and P&S segments are the same as those described in the summary of significant accounting policies except that the Company evaluates segment performance based on income (loss) 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. Segment assets are not presented as it is not a measure reviewed by the CODM in allocating resources and assessing performance.
Reportable segment information is as follows (in thousands):
Transportation SolutionsParts & ServicesCorporate and
Eliminations		Consolidated
2021
Net sales
External customers$1,628,694 $174,574 $— $1,803,268 
Intersegment sales4,625 2,592 (7,217)— 
Total net sales$1,633,319 $177,166 $(7,217)$1,803,268 
Depreciation and amortization$41,819 $4,781 $2,242 $48,842 
Income (Loss) from operations$61,869 $20,201 $(48,528)$33,542 
2020
Net sales
External customers$1,308,935 $172,954 $— $1,481,889 
Intersegment sales6,494 6,520 (13,014)— 
Total net sales$1,315,429 $179,474 $(13,014)$1,481,889 
Depreciation and amortization$40,236 $5,512 $2,222 $47,970 
Loss from operations$(29,702)$(12,658)$(43,248)$(85,608)
2019
Net sales
External customers$2,103,955 $215,181 $— $2,319,136 
Intersegment sales10,854 10,838 (21,692)— 
Total net sales$2,114,809 $226,019 $(21,692)$2,319,136 
Depreciation and amortization$34,821 $5,828 $1,708 $42,357 
Income (Loss) from operations$153,907 $31,523 $(42,644)$142,786 

Customer Concentration
The Company is subject to a concentration of risk as the five largest customers together accounted for approximately 30%, 21%, and 27% of the Company’s aggregate net sales in 2021, 2020, and 2019, respectively. In addition, for each of the last three years there were no customers whose revenue individually represented 10% or more of our aggregate net sales. International sales accounted for less than 10% in each of the last three years.
Product Information
The Company offers products primarily in four general categories: (1) new trailers, (2) used trailers, (3) components, parts and services, and (4) equipment and other (which includes new truck body sales). The following table sets forth the major product categories and their percentage of consolidated net sales (dollars in thousands):
Year ended December 31, 2021Transportation SolutionsParts & ServicesEliminationsConsolidated
New trailers$1,354,375 $179 $(181)$1,354,373 75.2%
Used trailers165 2,349 — 2,514 0.1%
Components, parts and services— 131,929 — 131,929 7.3%
Equipment and other278,779 42,709 (7,036)314,452 17.4%
Total net external sales$1,633,319 $177,166 $(7,217)$1,803,268 100.0%
Year ended December 31, 2020Transportation SolutionsParts & ServicesEliminationsConsolidated
New trailers$1,087,978 $3,387 $(3,545)$1,087,820 73.4%
Used trailers3,677 4,709 — 8,386 0.6%
Components, parts and services— 123,517 — 123,517 8.3%
Equipment and other223,774 47,861 (9,469)262,166 17.7%
Total net external sales$1,315,429 $179,474 $(13,014)$1,481,889 100.0%

Year ended December 31, 2019Transportation SolutionsParts & ServicesEliminationsConsolidated
New trailers$1,661,897 $7,859 $(7,077)$1,662,679 71.6%
Used trailers85 2,394 — 2,479 0.1%
Components, parts and services— 155,104 — 155,104 6.7%
Equipment and other452,827 60,662 (14,615)498,874 21.5%
Total net external sales$2,114,809 $226,019 $(21,692)$2,319,136 100.0%