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Note 4. Segment Information
 12 Months Ended
Dec. 31, 2019
Segment Information [Abstract]  
Schedule of Segment Reporting Information, by Segment [Table Text Block]
Note 4. 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 business; 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 are included in the operating profit of each respective segment. Our Chief Operating Decision Maker ("CODM") regularly reviews the operating results of our reportable segments in order to assess performance and allocate resources. Our CODM does not consider restructuring activities when evaluating segment operating results; therefore, restructuring activities are not allocated to segment profit or loss.
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 (in millions). We operate principally in North America.
 
Year Ended December 31, 2019
 
Railcar Leasing and Management Services Group
 
Rail Products Group
 
All Other
 
Corporate
 
Eliminations — Lease Subsidiary(1)
 
Eliminations — Other
 
Consolidated Total
External Revenue
$
1,116.3

 
$
1,595.4

 
$
293.4

 
$
—

 
$
—

 
$
—

 
$
3,005.1

Intersegment Revenue
0.9

 
1,331.1

 
51.7

 
—

 
(1,331.1
)
 
(52.6
)
 
—

Total Revenues
$
1,117.2

 
$
2,926.5

 
$
345.1

 
$
—

 
$
(1,331.1
)
 
$
(52.6
)
 
$
3,005.1

 
 
 
 
 
 
 
 
 
 
 
 
 
 
Depreciation & Amortization
$
232.2

 
$
29.6

 
$
12.8

 
$
9.0

 
$
—

 
$
—

 
$
283.6

Capital Expenditures
$
1,122.2

 
$
85.6

 
$
9.1

 
$
2.3

 
$
—

 
$
—

 
$
1,219.2

 
Year Ended December 31, 2018
 
Railcar Leasing and Management Services Group
 
Rail Products Group
 
All Other
 
Corporate
 
Eliminations — Lease Subsidiary(1)
 
Eliminations — Other
 
Consolidated Total
External Revenue
$
842.0

 
$
1,356.4

 
$
310.7

 
$
—

 
$
—

 
$
—

 
$
2,509.1

Intersegment Revenue
0.8

 
990.3

 
50.6

 
—

 
(990.3
)
 
(51.4
)
 
—

Total Revenues
$
842.8

 
$
2,346.7

 
$
361.3

 
$
—

 
$
(990.3
)
 
$
(51.4
)
 
$
2,509.1

 
 
 
 
 
 
 
 
 
 
 
 
 
 
Depreciation & Amortization
$
196.6

 
$
30.3

 
$
15.1

 
$
9.9

 
$
—

 
$
—

 
$
251.9

Capital Expenditures
$
948.3

 
$
16.0

 
$
17.3

 
$
4.0

 
$
—

 
$
—

 
$
985.6

 
Year Ended December 31, 2017
 
Railcar Leasing and Management Services Group
 
Rail Products Group
 
All Other
 
Corporate
 
Eliminations — Lease Subsidiary(1)
 
Eliminations — Other
 
Consolidated Total
External Revenue
$
842.2

 
$
1,254.5

 
$
300.7

 
$
—

 
$
—

 
$
—

 
$
2,397.4

Intersegment Revenue
1.0

 
789.5

 
32.4

 
—

 
(789.5
)
 
(33.4
)
 
—

Total Revenues
$
843.2

 
$
2,044.0

 
$
333.1

 
$
—

 
$
(789.5
)
 
$
(33.4
)
 
$
2,397.4

 
 
 
 
 
 
 
 
 
 
 
 
 
 
Depreciation & Amortization
$
172.3

 
$
35.1

 
$
12.8

 
$
9.6

 
$
—

 
$
(0.1
)
 
$
229.7

Capital Expenditures
$
608.3

 
$
4.9

 
$
9.5

 
$
7.6

 
$
—

 
$
—

 
$
630.3


The reconciliation of segment operating profit or loss to consolidated net income is as follows:
 
Year Ended December 31,
 
2019
 
2018
 
2017
 
(in millions)
Operating profit:
 
 
 
 
 
Railcar Leasing and Management Services Group
$
406.6

 
$
351.1

 
$
444.5

Rail Products Group
281.4

 
172.1

 
196.3

All Other
16.1

 
35.7

 
1.4

Segment Totals before Eliminations, Corporate Expenses, and Restructuring activities
704.1

 
558.9

 
642.2

Corporate
(108.0
)
 
(149.1
)
 
(175.1
)
Restructuring activities
(14.7
)
 
—

 
—

Eliminations – Lease Subsidiary (1)
(164.7
)
 
(95.1
)
 
(96.5
)
Eliminations – Other
(0.4
)
 
0.4

 
(2.3
)
Consolidated operating profit
$
416.3

 
$
315.1

 
$
368.3

Other (income) expense
215.6

 
163.5

 
172.9

Provision (benefit) for income taxes
61.5

 
42.6

 
(414.8
)
Income (loss) from discontinued operations, net of income taxes
(3.1
)
 
54.1

 
103.4

Net income
$
136.1

 
$
163.1

 
$
713.6

(1) Historically, "Eliminations – Lease Subsidiary" has included only railcar shipments from the Rail Products Group to the Leasing Group; however, beginning January 1, 2018, we elected to include the sales from our maintenance services business, previously reflected in Eliminations – Other, in "Eliminations – Lease Subsidiary." Previously reported amounts have been recast to conform to the current presentation.
Total assets for these segments is shown in the table below.
 
December 31, 2019
 
December 31, 2018
 
(in millions)
Railcar Leasing and Management Services Group
$
8,012.6

 
$
7,096.0

Rail Products Group
992.8

 
1,039.1

All Other
222.7

 
238.5

Segment Totals before Eliminations and Corporate
9,228.1

 
8,373.6

Corporate
378.1

 
443.4

Eliminations – Lease Subsidiary
(903.8
)
 
(827.7
)
Eliminations – Other
(1.0
)
 
(0.1
)
Total Assets
$
8,701.4

 
$
7,989.2


Corporate assets are composed of cash and cash equivalents, short-term marketable securities, notes receivable, certain property, plant, and equipment, and other assets.
We operate principally in North America. Our foreign operations are primarily located in Mexico. Revenues and operating profit for our Mexico operations for the years ended December 31, 2019, 2018, and 2017 were not significant in relation to the Consolidated Financial Statements. Total assets for our Mexico operations as of December 31, 2019 and 2018 are $136.0 million and $116.0 million, respectively. Total long-lived assets for our Mexico operations as of December 31, 2019 and 2018 are $112.2 million and $84.2 million, respectively.