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		Six months ended
	June 30,		June 30,
	2018	2017	2018	2017
Revenues:
Manufacturing	$ 63,051	$ 116,067	$ 142,784	$ 253,807
Corporate and Other	3,692	2,605	6,932	4,401
Consolidated Revenues	$ 66,743	$ 118,672	$ 149,716	$ 258,208
Operating (Loss) Income:
Manufacturing	$ 1,708	$ 2,328	$ (2,108)	$ 9,577
Corporate and Other	(5,254)	(3,375)	(10,030)	(9,205)
Consolidated Operating (Loss) Income	(3,546)	(1,047)	(12,138)	372
Consolidated interest expense and deferred financing costs	(27)	(30)	(59)	(72)
Consolidated other income (expense)	588	184	969	(115)
Consolidated (Loss) Income Before Income Taxes	$ (2,985)	$ (893)	$ (11,228)	$ 185
Depreciation and Amortization:
Manufacturing	$ 2,499	$ 2,150	$ 4,983	$ 4,307
Corporate and Other	400	185	465	365
Consolidated Depreciation and Amortization	$ 2,899	$ 2,335	$ 5,448	$ 4,672
Capital Expenditures:
Manufacturing (1)	$ 81	$ 66	$ 222	$ 378
Corporate and Other	213	83	254	67
Consolidated Capital Expenditures	$ 294	$ 149	$ 476	$ 445

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


	June 30,		December 31,
	2018		2017
Assets:
Manufacturing	$	213,495	$	136,448
Corporate and Other		102,183		149,195
Total Operating Assets		315,678		285,643
Consolidated income taxes receivable		331		815
Consolidated deferred income taxes, long-term		12,097		9,446
Consolidated income taxes receivable, long-term		1,767		-
Consolidated Assets	$	329,873	$	295,904