XML 20 R11.htm IDEA: XBRL DOCUMENT
v3.23.3

Segment Information | 9 Months Ended
--- | ---
Sep. 30, 2023
Segment Reporting [Abstract] |
Segment Information | Note 4 – Segment Information The Company’s operations consist of two operating segments, Manufacturing and Parts, and one reportable segment, Manufacturing. The Company’s Manufacturing segment includes new railcar manufacturing, railcar leasing and major railcar conversions and 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 internal 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, |
|  | 2023 |  |  | 2022 |  |  |  | 2023 |  |  | 2022 |
Revenues: |  |  |  |  |  |  |  |  |  |  |  |  |
Manufacturing |  | $ | 58,554 |  |  | $ | 82,817 |  |  |  | $ | 221,877 |  |  | $ | 226,548 |
Corporate and Other |  |  | 3,340 |  |  |  | 2,926 |  |  |  |  | 9,612 |  |  |  | 9,217 |
Consolidated revenues |  | $ | 61,894 |  |  | $ | 85,743 |  |  |  | $ | 231,489 |  |  | $ | 235,765 |
Operating income (loss): |  |  |  |  |  |  |  |  |  |  |  |  |
Manufacturing |  | $ | 7,378 |  |  | $ | 3,054 |  |  |  | $ | 24,775 |  |  | $ | 16,470 |
Corporate and Other (1) |  |  | (5,977 | ) |  |  | (13,717 | ) |  |  |  | (14,551 | ) |  |  | (25,252 | )
Consolidated operating income (loss) |  |  | 1,401 |  |  |  | (10,663 | ) |  |  |  | 10,224 |  |  |  | (8,782 | )
Consolidated interest expense |  |  | (2,037 | ) |  |  | (6,087 | ) |  |  |  | (12,988 | ) |  |  | (17,549 | )
Gain (loss) on change in fair market value of Warrant liability |  |  | 4,273 |  |  |  | (1,274 | ) |  |  |  | (1,869 | ) |  |  | (3,258 | )
Loss on extinguishment of debt |  |  | - |  |  |  | - |  |  |  |  | (14,880 | ) |  |  | - |
Consolidated other (expense) income |  |  | (228 | ) |  |  | 190 |  |  |  |  | (333 | ) |  |  | 2,347 |
Consolidated income (loss) before income taxes |  | $ | 3,409 |  |  | $ | (17,834 | ) |  |  | $ | (19,846 | ) |  | $ | (27,242 | )
Depreciation and amortization: |  |  |  |  |  |  |  |  |  |  |  |  |
Manufacturing |  | $ | 942 |  |  | $ | 877 |  |  |  | $ | 2,763 |  |  | $ | 2,614 |
Corporate and Other |  |  | 143 |  |  |  | 172 |  |  |  |  | 426 |  |  |  | 496 |
Consolidated depreciation and amortization |  | $ | 1,085 |  |  | $ | 1,049 |  |  |  | $ | 3,189 |  |  | $ | 3,110 |
Capital expenditures: |  |  |  |  |  |  |  |  |  |  |  |  |
Manufacturing |  | $ | 3,989 |  |  | $ | 540 |  |  |  | $ | 8,815 |  |  | $ | 2,982 |
Corporate and Other |  |  | 28 |  |  |  | 32 |  |  |  |  | 156 |  |  |  | 398 |
Consolidated capital expenditures |  | $ | 4,017 |  |  | $ | 572 |  |  |  | $ | 8,971 |  |  | $ | 3,380 |
(1) Results for the three and nine months ended September 30, 2023 include a pension settlement loss of $313. Results from the three and nine months ended September 30, 2022 include a pension settlement loss of $8,105.
|  | September 30, |  |  | December 31, |
|  | 2023 |  |  | 2022 |
Assets: |  |  |  |  |  |
Manufacturing |  | $ | 200,484 |  |  | $ | 149,014 |
Corporate and Other |  |  | 28,737 |  |  |  | 50,631 |
Total operating assets |  |  | 229,221 |  |  |  | 199,645 |
Consolidated income taxes receivable |  |  | 88 |  |  |  | 93 |
Consolidated assets |  | $ | 229,309 |  |  | $ | 199,738 |
Geographic Information |
|  | Revenues |  |  | Long Lived Assets(a) |
|  | Three Months Ended |  |  | Nine Months Ended |  |  |  |  |  |  |
|  | September 30, |  |  | September 30, |  |  | September 30, |  |  | December 31, |
|  | 2023 |  |  | 2022 |  |  | 2023 |  |  | 2022 |  |  | 2023 |  |  | 2022 |
United States |  | $ | 61,894 |  |  | $ | 85,743 |  |  | $ | 231,489 |  |  | $ | 235,751 |  |  | $ | 11,762 |  |  | $ | 15,018 |
Mexico |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 14 |  |  |  | 59,204 |  |  |  | 54,243 |
Total |  | $ | 61,894 |  |  | $ | 85,743 |  |  | $ | 231,489 |  |  | $ | 235,765 |  |  | $ | 70,966 |  |  | $ | 69,261 |
(a) Long lived assets include property plant and equipment, net, railcars available for lease, and right-of-use (ROU) assets.

X
- References No definition available. + Details
Name: | us-gaap_SegmentReportingAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 22 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-22 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 15 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-15 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 31 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-31 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-32 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 42 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-42 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (f) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-32 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 40 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-40 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//280/tableOfContent Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 26 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-26 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 34 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-34 Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 41 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-41 Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 21 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-21 Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 21 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-21 Reference 14: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-32 + Details
Name: | us-gaap_SegmentReportingDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration