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SEGMENTS | 3 Months Ended
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Mar. 31, 2023
Segment Reporting [Abstract] |
SEGMENTS | SEGMENTS a. Segment Reporting Based on how the Chief Operating Decision Maker (“CODM”) manages the business, allocates resources, makes operating decisions, and evaluates operating performance, the Company manages its business in two operating and reportable segments: Transportation Solutions and Parts & Services. 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. The Company’s EcoNex™ products, which are under the Company’s Acutherm TM portfolio of solutions designed for intelligent thermal management, are also reported in the TS segment. In addition, the TS segment includes tank trailers and truck-mounted tanks. Finally, truck-mounted dry and refrigerated bodies and service and stake bodies are also in the TS segment. ▪Parts & Services (“P&S”): The P&S segment is comprised of the Company’s parts and services business 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. This segment also includes the Wabash Parts LLC parts and distribution entity we created with our partner during the second quarter of 2022 as further described in Note 5. Finally, the P&S segment includes the Company’s Engineered Products business, which manufactures 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):
Three Months Ended March 31, 2023 |  | Transportation Solutions |  | Parts & Services |  |  |  | Corporate and Eliminations |  | Consolidated
Net sales |  |  |  |  |  |  |  |  |  |
External customers |  | $ | 575,296 |  |  | $ | 45,656 |  |  |  |  | $ | — |  |  | $ | 620,952 |
Intersegment sales |  | 2,775 |  |  | 1,484 |  |  |  |  | (4,259) |  |  | — |
Total net sales |  | $ | 578,071 |  |  | $ | 47,140 |  |  |  |  | $ | (4,259) |  |  | $ | 620,952 |
Income (loss) from operations |  | $ | 87,116 |  |  | $ | 9,209 |  |  |  |  | $ | (26,425) |  |  | $ | 69,900 |
Three Months Ended March 31, 2022 |  | Transportation Solutions |  | Parts & Services |  |  |  | Corporate and Eliminations |  | Consolidated
Net sales |  |  |  |  |  |  |  |  |  |
External customers |  | $ | 501,040 |  |  | $ | 45,721 |  |  |  |  | $ | — |  |  | $ | 546,761 |
Intersegment sales |  | 1,025 |  |  | 987 |  |  |  |  | (2,012) |  |  | — |
Total net sales |  | $ | 502,065 |  |  | $ | 46,708 |  |  |  |  | $ | (2,012) |  |  | $ | 546,761 |
Income (loss) from operations |  | $ | 31,697 |  |  | $ | 6,789 |  |  |  |  | $ | (18,351) |  |  | $ | 20,135 |
b. 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 truck bodies). The following table sets forth the major product categories and their percentage of consolidated net sales (dollars in thousands):
Three Months Ended March 31, 2023 |  | Transportation Solutions |  | Parts & Services |  |  |  | Eliminations |  | Consolidated
New trailers |  | $ | 485,248 |  |  | $ | 124 |  |  |  |  | $ | (362) |  |  | $ | 485,010 |  |  | 78.1 | %
Used trailers |  | — |  |  | 539 |  |  |  |  | — |  |  | 539 |  |  | 0.1 | %
Components, parts and services |  | — |  |  | 35,682 |  |  |  |  | — |  |  | 35,682 |  |  | 5.7 | %
Equipment and other |  | 92,823 |  |  | 10,795 |  |  |  |  | (3,897) |  |  | 99,721 |  |  | 16.1 | %
Total net sales |  | $ | 578,071 |  |  | $ | 47,140 |  |  |  |  | $ | (4,259) |  |  | $ | 620,952 |  |  | 100.0 | %
Three Months Ended March 31, 2022 |  | Transportation Solutions |  | Parts & Services |  |  |  | Eliminations |  | Consolidated
New trailers |  | $ | 437,963 |  |  | $ | 54 |  |  |  |  | $ | (311) |  |  | $ | 437,706 |  |  | 80.1 | %
Used trailers |  | — |  |  | 569 |  |  |  |  | — |  |  | 569 |  |  | 0.1 | %
Components, parts and services |  | — |  |  | 33,564 |  |  |  |  | (1,701) |  |  | 31,863 |  |  | 5.8 | %
Equipment and other |  | 64,102 |  |  | 12,521 |  |  |  |  | — |  |  | 76,623 |  |  | 14.0 | %
Total net sales |  | $ | 502,065 |  |  | $ | 46,708 |  |  |  |  | $ | (2,012) |  |  | $ | 546,761 |  |  | 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://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8924-108599 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 34 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8981-108599 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 21 -Subparagraph (a) -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8721-108599 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 40 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e9031-108599 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (f) -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8933-108599 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (e) -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8933-108599 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 26 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8844-108599 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 41 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e9038-108599 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (d) -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8933-108599 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8736-108599 Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 42 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e9054-108599 Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 15 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8657-108599 Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 21 -Subparagraph (b) -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8721-108599 Reference 14: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -URI https://asc.fasb.org/topic&trid=2134510 + Details
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