Segment Information

12 Months Ended

Dec. 31, 2022

Segment Reporting [Abstract]

Segment Information

Note 20 – 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, 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,
	2022			2021
Revenues:
Manufacturing	$	352,827		$	192,807
Corporate and Other		11,927			10,243
Consolidated revenues	$	364,754		$	203,050
Operating loss:
Manufacturing (1)	$	14,801		$	(757	)
Corporate and Other (2)		(29,825	)		(22,005	)
Consolidated operating loss		(15,024	)		(22,762	)
Consolidated interest expense		(25,423	)		(13,317	)
Gain (loss) on change in fair market value of Warrant liability		1,486			(14,894	)
Gain on extinguishment of debt		-			10,122
Consolidated other income		2,426			817
Consolidated loss before income taxes	$	(36,535	)	$	(40,034	)
Depreciation and amortization:
Manufacturing	$	3,491		$	3,648
Corporate and Other		644			656
Consolidated depreciation and amortization	$	4,135		$	4,304
Capital expenditures:
Manufacturing	$	7,327		$	1,880
Corporate and Other		489			410
Consolidated capital expenditures	$	7,816		$	2,290

(1) There were no restructuring and impairment charges for the year ended December 31, 2022. Results for the year ended December 31, 2021 include restructuring and impairment charges of $6,530.

(2) Results for the year ended December 31, 2022 include a pension settlement loss of $8,105. There were no pension settlement losses in the year ended December 31, 2021.

	December 31,		December 31,
	2022		2021
Assets:
Manufacturing	$	149,014	$	154,068
Corporate and Other		50,631		46,417
Total operating assets		199,645		200,485
Consolidated income taxes receivable		93		179
Consolidated assets	$	199,738	$	200,664

Geographic Information
	Revenues					Long Lived Assets(a)
		Year Ended
		December 31,				December 31,		December 31,
		2022		2021		2022		2021
United States		$	364,740	$	202,978	$	15,018	$	24,967
Mexico			14		72		54,243		30,098
Total		$	364,754	$	203,050	$	69,261	$	55,065

(a) Long lived assets include property plant and equipment, net, railcars available for lease, and right-of-use (ROU) assets.