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
	March 31,
	2020		2019
Revenues:
Manufacturing	$	2,940	$	67,595
Corporate and Other		2,257		3,113
Consolidated revenues	$	5,197	$	70,708

Operating (loss) income:
Manufacturing (1)	$	(11,800)	$	(9,637)
Corporate and Other		(5,293)		(4,879)
Consolidated operating loss		(17,093)		(14,516)
Consolidated interest expense and deferred financing costs		(296)		(36)
Consolidated other income		224		319
Consolidated loss before income taxes	$	(17,165)	$	(14,233)

Depreciation and amortization:
Manufacturing	$	2,795	$	3,013
Corporate and Other		218		184
Consolidated depreciation and amortization	$	3,013	$	3,197

Capital expenditures:
Manufacturing	$	2,920	$	535
Corporate and Other		750		225
Consolidated capital expenditures	$	3,670	$	760

(1) Results for the three months ended March 31, 2020 include restructuring and impairment charges of $880.


	March 31,		December 31,
	2020		2019
Assets:
Manufacturing	$	169,154	$	156,859
Corporate and Other		80,929		87,329
Total operating assets		250,083		244,188
Consolidated income taxes receivable		1,022		1,014
Consolidated deferred income taxes, long-term		(3)		-
Consolidated assets	$	251,102	$	245,202



Geographic Information

		Revenues				Long Lived Assets(a)
		Three Months Ended
		March 31,				March 31,		December 31,
		2020		2019		2020		2019
United States	$	5,197	$	70,708	$	130,008	$	132,825
Mexico (b)		-		-		3,441		1,146
Total	$	5,197	$	70,708	$	133,449	$	133,971

(a) Long lived assets include Net property plant and equipment, Railcars available for lease, and ROU Assets.
(b) Mexico operations are included in manufacturing segment.