Note 5 – Segment Information

The Company’s operations comprise two operating segments, Manufacturing and Parts, and one reportable segment, Manufacturing. The Company’s Manufacturing segment includes new railcar manufacturing, used railcar sales, railcar leasing and major railcar rebuilds. The Company’s Parts operating segment is not significant for reporting purposes and has been combined with corporate and other non-operating activities as Corporate and Other.

Segment operating income is an internal performance measure used by the Company’s Chief Operating Decision Maker to assess the performance of each segment in a given period. Segment operating income includes all external revenues attributable to the segments as well as operating costs and income that management believes are directly attributable to the current production of goods and services. The Company’s management reporting package does not include interest revenue, interest expense or income taxes allocated to individual segments and these items are not considered as a component of segment operating income. Segment assets represent operating assets and exclude intersegment accounts, deferred tax assets and income tax receivables. The Company does not allocate cash and cash equivalents to its operating segments as the Company’s treasury function is managed at the corporate level. Intersegment revenues were not material in any period presented.



	Three months ended
	March 31,
	2018	2017
Revenues:
Manufacturing	$ 79,733	$ 137,740
Corporate and Other	3,240	1,796
Consolidated Revenues	$ 82,973	$ 139,536
Operating (Loss) Income:
Manufacturing	$ (3,816)	$ 7,249
Corporate and Other	(4,776)	(5,830)
Consolidated Operating (Loss) Income	(8,592)	1,419
Consolidated interest expense and deferred financing costs	(32)	(42)
Consolidated other income (expense)	381	(299)
Consolidated (Loss) Income Before Income Taxes	$ (8,243)	$ 1,078
Depreciation and Amortization:
Manufacturing	$ 2,484	$ 2,157
Corporate and Other	66	180
Consolidated Depreciation and Amortization	$ 2,550	$ 2,337
Capital Expenditures:
Manufacturing (1)	$ 141	$ 312
Corporate and Other	41	(16)
Consolidated Capital Expenditures	$ 182	$ 296

(1) Excluding assets acquired as part of a business acquisition of $17.2 million on February 28, 2018.(see Note 16)



	March 31,		December 31,
	2018		2017
Assets:
Manufacturing	$	166,284	$	136,448
Corporate and Other		137,822		149,195
Total Operating Assets		304,106		285,643
Consolidated income taxes receivable		329		815
Consolidated deferred income taxes, long-term		11,428		9,446
Consolidated income taxes receivable, long-term		1,767		-
Consolidated Assets	$	317,630	$	295,904