XML 88 R62.htm IDEA: XBRL DOCUMENT v3.24.0.1
Note 4. Segment Information Segment Information (Details)
$ in Millions
12 Months Ended
Dec. 31, 2023
USD ($)
segment
Dec. 31, 2022
USD ($)
Dec. 31, 2021
USD ($)
Segment Reporting Information [Line Items]      
Number of Reportable Segments | segment 2    
External Revenue $ 2,983.3 $ 1,977.3 $ 1,516.0
Revenues: 2,983.3 1,977.3 1,516.0
Depreciation and amortization 293.2 276.4 265.7
Capital expenditures 710.1 966.8 570.8
Total operating profit 417.0 334.0 256.8
Restructuring activities, net 2.2 (1.0) 3.7
Other (income) expense 268.0 207.5 201.6
Provision (benefit) for income taxes: 9.0 27.6 15.9
Income (loss) from discontinued operations, net of provision (benefit) for income taxes of $(3.6), $(1.1), and $3.5 (13.4) (20.3) 11.1
Gain (loss) on sale of discontinued operations, net of provision (benefit) for income taxes of $—, $(1.4), and $51.9 0.0 (5.7) 131.4
Net income 126.6 72.9 181.8
Total assets 8,906.5 8,724.3  
Operating Segment Assets 9,370.4 9,220.4  
MEXICO      
Segment Reporting Information [Line Items]      
Total assets 590.0 571.7  
Long-Lived Assets 96.1 96.3  
Revenues from External Customers and Long-Lived Assets [Line Items]      
Long-Lived Assets 96.1 96.3  
Railcar Leasing and Management Services Group [Member]      
Segment Reporting Information [Line Items]      
External Revenue 870.0 769.8 734.6
Total operating profit 428.5 423.3 350.9
Rail Products Group [Member]      
Segment Reporting Information [Line Items]      
External Revenue 2,113.3 1,207.5 781.4
Total operating profit 129.4 59.1 4.7
Corporate and Other      
Segment Reporting Information [Line Items]      
Total operating profit $ (108.3) $ (80.8) $ (84.1)
Major Customer | Revenue Benchmark | Customer Concentration Risk      
Revenues from External Customers and Long-Lived Assets [Line Items]      
Concentration Risk, Percentage 13.00% 17.00% 22.00%
Operating Segments [Member]      
Segment Reporting Information [Line Items]      
Total operating profit $ 557.9 $ 482.4 $ 355.6
Operating Segments [Member] | Railcar Leasing and Management Services Group [Member]      
Segment Reporting Information [Line Items]      
Revenues: 870.9 770.6 735.3
Depreciation and amortization [1] 244.6 236.4 226.0
Capital expenditures 671.5 928.8 547.2
Total operating profit [2] 428.5 423.3 350.9
Total assets 7,895.7 7,779.9  
Operating Segments [Member] | Rail Products Group [Member]      
Segment Reporting Information [Line Items]      
Revenues: 2,703.0 2,074.7 1,264.8
Depreciation and amortization 43.7 34.8 33.6
Capital expenditures 37.1 35.7 21.3
Total assets 1,474.7 1,440.5  
Operating Segments [Member] | Corporate and Other      
Segment Reporting Information [Line Items]      
Depreciation and amortization 4.9 5.2 6.1
Capital expenditures 1.5 2.3 2.3
Total assets 286.3 267.2  
Intersegment Eliminations [Member] | Railcar Leasing and Management Services Group [Member]      
Segment Reporting Information [Line Items]      
Intersegment Revenues 0.9 0.8 0.7
Intersegment Eliminations [Member] | Rail Products Group [Member]      
Segment Reporting Information [Line Items]      
Intersegment Revenues 589.7 867.2 483.4
Consolidated Subsidiaries, Leasing [Member]      
Segment Reporting Information [Line Items]      
Total operating profit (36.1) (65.2) (17.2)
Consolidated Subsidiaries, Leasing [Member] | Intersegment Eliminations [Member]      
Segment Reporting Information [Line Items]      
Intersegment Revenues (589.7) (867.2) (478.5)
Revenues: (589.7) (867.2) (478.5)
Depreciation and amortization 0.0 0.0 0.0
Capital expenditures 0.0 0.0 0.0
Total assets [3] (750.2) (763.3)  
Consolidated Subsidiaries, Excluding Leasing [Member]      
Segment Reporting Information [Line Items]      
Total operating profit 1.3 (1.4) (1.2)
Consolidated Subsidiaries, Excluding Leasing [Member] | Intersegment Eliminations [Member]      
Segment Reporting Information [Line Items]      
Intersegment Revenues (0.9) (0.8) (5.6)
Revenues: (0.9) (0.8) (5.6)
Depreciation and amortization 0.0 0.0 0.0
Capital expenditures $ 0.0 $ 0.0 $ 0.0
[1] Depreciation and amortization expense includes $5.6 million, $12.1 million, and $8.8 million for the years ended December 31, 2023, 2022, and 2021, respectively, related to the disposal of certain railcar components associated with our sustainable railcar conversion program.
[2] Operating profit includes: depreciation and amortization; fleet operating costs, which include maintenance, compliance, freight, and storage; rent and ad valorem taxes; and selling, engineering, and administrative expenses. Amortization of deferred profit on railcars sold from the Rail Products Group to the Leasing Group is included in the operating profits of the Leasing Group, resulting in the recognition of depreciation expense based on our original manufacturing cost of the railcars. Interest expense is not a component of operating profit and includes the effect of hedges.
[3] Net deferred profit on railcars sold to the Leasing Group consists of intersegment profit that is eliminated in consolidation. Net deferred profit and the related deferred tax impact are included as adjustments to the property, plant, and equipment, net and deferred income taxes line items, respectively, in the Eliminations – Lease Subsidiary column above to reflect the net book value of the railcars purchased by the Leasing Group from the Rail Products Group based on manufacturing cost. See Note 5 and Note 9 for a further discussion regarding our investment in our partially-owned leasing subsidiaries and the related indebtedness.