SEGMENTS

3 Months Ended

Mar. 31, 2021

Segment Reporting [Abstract]

SEGMENTS

SEGMENTS

a. Segment Reporting

The Company manages its business in three segments: Commercial Trailer Products, Diversified Products, and Final Mile Products. The Commercial Trailer Products segment manufactures standard and customized van and platform trailers and other transportation related equipment for customers who purchase directly from the Company or through independent dealers. The Diversified Products segment, comprised of three strategic business units including, Tank Trailer, Process Systems and Composites, focuses on the Company’s commitment to expand its customer base, diversify its product offerings and revenues and extend its market leadership by leveraging its proprietary DuraPlate® panel technology, drawing on its core manufacturing expertise and making available products that are complementary to truck and tank trailers and transportation equipment. The Final Mile Products segment manufactures truck bodies for customers in the final mile space.

The accounting policies of the segments are the same as those described in the summary of significant accounting policies except that the Company evaluates segment performance based on income (loss) from operations. The Company has not allocated certain corporate related administrative costs, interest and income taxes included in the corporate and eliminations segment to the Company’s other reportable segments. The Company accounts for intersegment sales and transfers at cost plus a specified mark-up.

Reportable segment information is as follows (in thousands):

Three Months Ended March 31, 2021	Commercial Trailer Products		Diversified Products		Final Mile Products		Corporate and Eliminations		Consolidated
Net sales
External customers	$	246,771	$	68,167	$	77,065	$	—	$	392,003
Intersegment sales	938		5,841		—		(6,779)		—
Total net sales	$	247,709	$	74,008	$	77,065	$	(6,779)	$	392,003
Income (loss) from operations	$	20,865	$	6,089	$	(3,947)	$	(11,792)	$	11,215
Assets	$	300,257	$	273,176	$	377,815	$	275,106	$	1,226,354
Three Months Ended March 31, 2020	Commercial Trailer Products		Diversified Products		Final Mile Products		Corporate and Eliminations		Consolidated
Net sales
External customers	$	250,945	$	75,859	$	60,270	$	—	$	387,074
Intersegment sales	30		7,099		—		(7,129)		—
Total net sales	$	250,975	$	82,958	$	60,270	$	(7,129)	$	387,074
Income (loss) from operations	$	15,871	$	(6,070)	$	(108,041)	$	(11,816)	$	(110,056)
Assets	$	359,699	$	301,883	$	413,693	$	150,136	$	1,225,411

b.  Product Information

The Company offers products primarily in four general categories: (1) new trailers, (2) used trailers, (3) components, parts and service, and (4) equipment and other. The following table sets forth the major product categories and their percentage of consolidated net sales (dollars in thousands):

Three Months Ended March 31, 2021	Commercial Trailer Products		Diversified Products		Final Mile Products		Eliminations		Consolidated
New trailers	$	238,665	$	30,266	$	—	$	—	$	268,931	68.6	%
Used trailers	165		847		—		—		1,012		0.3	%
Components, parts and service	5,941		29,966		3,723		(5,843)		33,787		8.6	%
Equipment and other	2,938		12,929		73,342		(936)		88,273		22.5	%
Total net sales	$	247,709	$	74,008	$	77,065	$	(6,779)	$	392,003	100.0	%
Three Months Ended March 31, 2020	Commercial Trailer Products		Diversified Products		Final Mile Products		Eliminations		Consolidated
New trailers	$	237,901	$	43,312	$	—	$	—	$	281,213	72.7	%
Used trailers	318		1,210		—		—		1,528		0.4	%
Components, parts and service	9,272		26,082		3,722		(7,100)		31,976		8.3	%
Equipment and other	3,484		12,354		56,548		(29)		72,357		18.7	%
Total net sales	$	250,975	$	82,958	$	60,270	$	(7,129)	$	387,074	100.0	%