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,
	2018	2017
Revenues:
Manufacturing	$ 302,154	$ 400,481
Corporate and Other	14,365	8,993
Consolidated Revenues	$ 316,519	$ 409,474
Operating (Loss) Income:
Manufacturing	$ (14,556)	$ (6,998)
Corporate and Other	(17,549)	(24,785)
Consolidated Operating (Loss) Income	(32,105)	(31,783)
Consolidated interest expense and deferred financing costs	(155)	(163)
Consolidated other income	1,848	539
Consolidated (Loss) Income Before Income Taxes	$ (30,412)	$ (31,407)
Depreciation and Amortization:
Manufacturing	$ 11,269	$ 8,642
Corporate and Other	748	724
Consolidated Depreciation and Amortization	$ 12,017	$ 9,366
Capital Expenditures:
Manufacturing (1)	$ 1,851	$ 624
Corporate and Other	334	343
Consolidated Capital Expenditures	$ 2,185	$ 967

(1) Excluding assets of $17.2 million acquired as part of a business acquisition on February 28, 2018.



	December 31,		December 31,
	2018		2017
Assets:
Manufacturing	$	208,663	$	136,448
Corporate and Other		79,028		147,303
Total Operating Assets		287,691		283,751
Consolidated income taxes receivable		2,046		2,707
Consolidated deferred income taxes, long-term		-		9,446
Consolidated Assets	$	289,737	$	295,904