Note 6 – 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 and restricted cash and restricted 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,
	2019	2018	2019	2018
Revenues:
Manufacturing	$ 37,868	$ 75,162	$ 176,280	$ 217,946
Corporate and Other	2,783	3,806	8,740	10,738
Consolidated Revenues	$ 40,651	$ 78,968	$ 185,020	$ 228,684
Operating Loss:
Manufacturing (1)	$ (30,788)	$ (5,906)	$ (43,444)	$ (8,014)
Corporate and Other	(5,468)	(2,807)	(23,171)	(12,837)
Consolidated Operating Loss	(36,256)	(8,713)	(66,615)	(20,851)
Consolidated interest expense and deferred financing costs	(223)	(26)	(374)	(85)
Consolidated other income (expense)	363	452	765	1,421
Consolidated Loss Before Income Taxes	$ (36,116)	$ (8,287)	$ (66,224)	$ (19,515)
Depreciation and Amortization:
Manufacturing	$ 2,819	$ 2,759	$ 8,922	$ 7,740
Corporate and Other	191	135	565	601
Consolidated Depreciation and Amortization	$ 3,010	$ 2,894	$ 9,487	$ 8,341
Capital Expenditures:
Manufacturing (2)	$ 1,052	$ 564	$ 2,485	$ 789
Corporate and Other	205	64	807	318
Consolidated Capital Expenditures	$ 1,257	$ 628	$ 3,292	$ 1,107

(1) Results for the three and nine months ended September 30, 2019 include restructuring and impairment charges of $23,032 and $24,351, respectively
(2) Excluding assets of $17,169 acquired as part of a business acquisition on February 28, 2018.



	September 30,		December 31,
	2019		2018
Assets:
Manufacturing	$	209,830	$	208,663
Corporate and Other		77,435		79,028
Total Operating Assets		287,265		287,691
Consolidated income taxes receivable		2,022		2,046
Consolidated Assets	$	289,287	$	289,737