Segment Information

The Company reports operating results in five principal business segments: (1) the Rail Group, which manufactures and sells railcars and related parts, components, and maintenance services; (2) the Construction Products Group, which manufactures and sells highway products, trench shields, shoring products, and services for infrastructure-related projects, and produces and sells construction aggregates; (3) the Inland Barge Group, which manufactures and sells barges and related products for inland waterway services; (4) the Energy Equipment Group, which manufactures and sells products for energy-related businesses, including structural wind towers, steel utility structures for electricity transmission and distribution, storage and distribution containers, and tank heads for pressure and non-pressure vessels; and (5) the Railcar Leasing and Management Services Group (“Leasing Group”), which owns and operates a fleet of railcars as well as provides third-party fleet leasing, management, maintenance, and administrative services. The segment All Other includes our captive insurance and transportation companies; legal, environmental, and maintenance costs associated with non-operating facilities; and other peripheral businesses. Gains and losses from the sale of property, plant, and equipment related to manufacturing and dedicated to the specific manufacturing operations of a particular segment are included in the operating profit of that respective segment. Gains and losses from the sale of property, plant, and equipment that can be utilized by multiple segments are included in operating profit of the All Other segment.

Sales and related net profits ("deferred profit") from the Rail Group to the Leasing Group are recorded in the Rail Group and eliminated in consolidation and reflected in the "Eliminations - Lease subsidiary" line in the table below. Sales between these groups are recorded at prices comparable to those charged to external customers, taking into consideration quantity, features, and production demand. Amortization of deferred profit on railcars sold to the Leasing Group is included in the operating profit of the Leasing Group, resulting in the recognition of depreciation expense based on the Company's original manufacturing cost of the railcars. Sales of railcars from the lease fleet are included in the Leasing Group, with related gains and losses computed based on the net book value of the original manufacturing cost of the railcars.

The financial information for these segments is shown in the tables below. We operate principally in North America.

Three Months Ended June 30, 2018



	Revenues								Operating Profit (Loss)
	External		Intersegment			Total
	(in millions)
Railcars						$	483.8
Components and maintenance services						91.4
Rail Group	$	346.9	$	228.3		575.2			$	57.7

Highway products						71.7
Construction aggregates						61.1
Other						22.8
Construction Products Group	153.4		2.2			155.6			31.4

Inland Barge Group	42.9		—			42.9			2.9

Wind towers and utility structures						133.0
Other						66.3
Energy Equipment Group	183.9		15.4			199.3			13.1

Leasing and management						184.2
Sales of leased railcars owned one year or less at the time of sale						29.2
Railcar Leasing and Management Services Group	213.2		0.2			213.4			91.8

All Other	2.0		21.3			23.3			(3.0		)

Segment Totals before Eliminations and Corporate	942.3		267.4			1,209.7			193.9
Corporate	—		—			—			(43.4		)
Eliminations – Lease subsidiary	—		(228.3		)	(228.3		)	(24.5		)
Eliminations – Other	—		(39.1		)	(39.1		)	(0.5		)
Consolidated Total	$	942.3	$	—		$	942.3		$	125.5

Three Months Ended June 30, 2017



	Revenues								Operating Profit (Loss)
	External		Intersegment			Total
	(in millions)
Railcars						$	407.3
Components and maintenance services						58.6
Rail Group	$	335.4	$	130.5		465.9			$	36.7

Highway products						65.6
Construction aggregates						52.2
Other						13.5
Construction Products Group	130.7		0.6			131.3			22.2

Inland Barge Group	33.5		—			33.5			0.5

Wind towers and utility structures						166.5
Other						72.0
Energy Equipment Group	212.2		26.3			238.5			24.1

Leasing and management						185.0
Sales of leased railcars owned one year or less at the time of sale						7.1
Railcar Leasing and Management Services Group	191.9		0.2			192.1			110.8

All Other	1.8		20.9			22.7			(5.7		)

Segment Totals before Eliminations and Corporate	905.5		178.5			1,084.0			188.6
Corporate	—		—			—			(38.4		)
Eliminations – Lease subsidiary	—		(130.6		)	(130.6		)	(14.4		)
Eliminations – Other	—		(47.9		)	(47.9		)	(1.2		)
Consolidated Total	$	905.5	$	—		$	905.5		$	134.6

Six Months Ended June 30, 2018



	Revenues								Operating Profit (Loss)
	External		Intersegment			Total
	(in millions)
Railcars						$	1,004.9
Components and maintenance services						168.8
Rail Group	$	649.3	$	524.4		1,173.7			$	116.6

Highway products						126.5
Construction aggregates						113.7
Other						40.4
Construction Products Group	276.8		3.8			280.6			50.8

Inland Barge Group	73.7		—			73.7			2.2

Wind towers and utility structures						280.5
Other						145.5
Energy Equipment Group	383.1		42.9			426.0			34.4

Leasing and management						358.8
Sales of leased railcars owned one year or less at the time of sale						29.2
Railcar Leasing and Management Services Group	387.5		0.5			388.0			162.9

All Other	3.2		44.9			48.1			(6.3		)

Segment Totals before Eliminations and Corporate	1,773.6		616.5			2,390.1			360.6
Corporate	—		—			—			(82.9		)
Eliminations – Lease subsidiary	—		(524.4		)	(524.4		)	(53.2		)
Eliminations – Other	—		(92.1		)	(92.1		)	(0.4		)
Consolidated Total	$	1,773.6	$	—		$	1,773.6		$	224.1

Six Months Ended June 30, 2017



	Revenues								Operating Profit (Loss)
	External		Intersegment			Total
	(in millions)
Railcars						$	832.4
Components and maintenance services						111.8
Rail Group	$	621.4	$	322.8		944.2			$	87.2

Highway products						129.1
Construction aggregates						101.8
Other						23.5
Construction Products Group	251.6		2.8			254.4			37.7

Inland Barge Group	96.2		—			96.2			6.8

Wind towers and utility structures						347.3
Other						146.6
Energy Equipment Group	440.0		53.9			493.9			53.7

Leasing and management						363.9
Sales of leased railcars owned one year or less at the time of sale						7.1
Railcar Leasing and Management Services Group	370.5		0.5			371.0			195.8

All Other	3.1		42.4			45.5			(10.3		)

Segment Totals before Eliminations and Corporate	1,782.8		422.4			2,205.2			370.9
Corporate	—		—			—			(73.5		)
Eliminations – Lease subsidiary	—		(322.8		)	(322.8		)	(43.8		)
Eliminations – Other	—		(99.6		)	(99.6		)	(3.1		)
Consolidated Total	$	1,782.8	$	—		$	1,782.8		$	250.5