Segment Information

We report our operating results in three principal business segments: (1) the Railcar Leasing and Management Services Group, which owns and operates a fleet of railcars and provides third-party fleet leasing, management, and administrative services; (2) the Rail Products Group, which manufactures and sells railcars and related parts and components, and provides railcar maintenance and modification services; and (3) All Other. The All Other segment includes our highway products business; our logistics businesses; 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.

Sales and related net profits ("deferred profit") from the Rail Products Group to the Leasing Group are recorded in the Rail Products Group and eliminated in consolidation and are reflected in "Eliminations - Lease subsidiary" in the tables 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 our 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 March 31, 2019
	Railcar Leasing and Management Services Group		Rail Products Group		All Other		Corporate			Eliminations - Lease Subsidiary			Eliminations - Other			Consolidated Total
External Revenue	$	200.2	$	333.5	$	71.1	$	—		$	—		$	—		$	604.8
Intersegment Revenue	0.2		270.1		15.3		—			(270.1		)	(15.5		)	—
Total Revenues	$	200.4	$	603.6	$	86.4	$	—		$	(270.1	)	$	(15.5	)	$	604.8

Operating Profit (Loss)	$	85.8	$	50.6	$	6.6	$	(23.6	)	$	(27.2	)	$	(0.4	)	$	91.8



	Three Months Ended March 31, 2018
	Railcar Leasing and Management Services Group		Rail Products Group		All Other		Corporate			Eliminations - Lease Subsidiary			Eliminations - Other			Consolidated Total
External Revenue	$	174.3	$	292.0	$	66.9	$	—		$	—		$	—		$	533.2
Intersegment Revenue	0.3		296.1		10.4		—			(296.1		)	(10.7		)	—
Total Revenues	$	174.6	$	588.1	$	77.3	$	—		$	(296.1	)	$	(10.7	)	$	533.2

Operating Profit (Loss)	$	71.1	$	51.5	$	5.8	$	(37.7	)	$	(28.7	)	$	0.1		$	62.1