Note 21 – 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.



	Year Ended
	December 31,
	2019	2018
Revenues:
Manufacturing	$ 219,064	$ 302,154
Corporate and Other	10,894	14,365
Consolidated Revenues	$ 229,958	$ 316,519
Operating (Loss) Income:
Manufacturing (1)	$ (53,501)	$ (14,556)
Corporate and Other	(22,101)	(17,549)
Consolidated Operating (Loss) Income	(75,602)	(32,105)
Consolidated interest expense and deferred financing costs	(609)	(155)
Consolidated other income	858	1,848
Consolidated (Loss) Income Before Income Taxes	$ (75,353)	$ (30,412)
Depreciation and Amortization:
Manufacturing	$ 11,622	$ 11,269
Corporate and Other	778	748
Consolidated Depreciation and Amortization	$ 12,400	$ 12,017
Capital Expenditures:
Manufacturing (2)	$ 5,261	$ 1,851
Corporate and Other	312	334
Consolidated Capital Expenditures	$ 5,573	$ 2,185

(1) Results for the year ended December 31, 2019 include restructuring and impairment charges of $22,371.
(2) Excluding assets of $17,169 acquired as part of a business acquisition on February 28, 2018.



	December 31,		December 31,
	2019		2018
Assets:
Manufacturing	$	156,859	$	208,663
Corporate and Other		87,329		79,028
Total Operating Assets		244,188		287,691
Consolidated income taxes receivable		1,014		2,046
Consolidated deferred income taxes, long-term		-		-
Consolidated Assets	$	245,202	$	289,737