Segment Information

3 Months Ended

Mar. 31, 2021

Segment Information [Abstract]

Segment Information

Note 4 – 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 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
	March 31,
	2021		2020
Revenues:
Manufacturing	$	30,019	$	2,940
Corporate and Other		2,351		2,257
Consolidated revenues	$	32,370	$	5,197
Operating loss:
Manufacturing (1)	$	(5,530)	$	(11,800)
Corporate and Other		(8,467)		(5,293)
Consolidated operating loss		(13,997)		(17,093)
Consolidated interest expense		(2,502)		(296)
Loss on change in fair market value of warrant liability		(22,128)		-
Consolidated other income		115		224
Consolidated loss before income taxes	$	(38,512)	$	(17,165)
Depreciation and amortization:
Manufacturing	$	1,067	$	2,795
Corporate and Other		130		218
Consolidated depreciation and amortization	$	1,197	$	3,013
Capital expenditures:
Manufacturing	$	345	$	2,920
Corporate and Other		197		750
Consolidated capital expenditures	$	542	$	3,670
(1) Results for the three months ended March 31, 2021 and 2020 include restructuring and impairment charges of $6,650 and $880, respectively.

	March 31,		December 31,
	2021		2020
Assets:
Manufacturing	$	110,145	$	114,669
Corporate and Other		47,765		68,046
Total operating assets		157,910		182,715
Consolidated income taxes receivable		160		27
Consolidated assets	$	158,070	$	182,742

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Geographic Information
		Revenues				Long Lived Assets(a)
		Three Months Ended
		March 31,				March 31,		December 31,
		2021		2020		2021		2020
United States	$	32,370	$	5,197	$	26,772	$	48,126
Mexico		-		-		31,247		20,984
Total	$	32,370	$	5,197	$	58,019	$	69,110
(a) Long lived assets include property plant and equipment, net, railcars available for lease, and ROU assets.