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		Nine months ended
	September 30,		September 30,
	2018	2017	2018	2017
Revenues:
Manufacturing	$ 75,162	$ 69,842	$ 217,946	$ 323,649
Corporate and Other	3,806	2,183	10,738	6,584
Consolidated Revenues	$ 78,968	$ 72,025	$ 228,684	$ 330,233
Operating Loss:
Manufacturing	$ (5,906)	$ (10,028)	$ (8,014)	$ (451)
Corporate and Other	(2,807)	(8,687)	(12,837)	(17,891)
Consolidated Operating Loss	(8,713)	(18,715)	(20,851)	(18,342)
Consolidated interest expense and deferred financing costs	(26)	(27)	(85)	(99)
Consolidated other income (expense)	452	335	1,421	219
Consolidated Loss Before Income Taxes	$ (8,287)	$ (18,407)	$ (19,515)	$ (18,222)
Depreciation and Amortization:
Manufacturing	$ 2,759	$ 2,170	$ 7,740	$ 6,477
Corporate and Other	135	179	601	544
Consolidated Depreciation and Amortization	$ 2,894	$ 2,349	$ 8,341	$ 7,021
Capital Expenditures:
Manufacturing (1)	$ 564	$ 141	$ 789	$ 519
Corporate and Other	64	27	318	94
Consolidated Capital Expenditures	$ 628	$ 168	$ 1,107	$ 613

(1) Excluding assets of $17.2 million acquired as part of a business acquisition on February 28, 2018 (see Note 17).




	September 30,		December 31,
	2018		2017
Assets:
Manufacturing	$	228,634	$	136,448
Corporate and Other		79,608		149,195
Total Operating Assets		308,242		285,643
Consolidated income taxes receivable		238		815
Consolidated deferred income taxes, long-term		14,256		9,446
Consolidated income taxes receivable, long-term		1,767		-
Consolidated Assets	$	324,503	$	295,904