The Company operates through two operating segments for which separate financial information is available, and for which operating results are evaluated regularly by the Company's chief operating decision maker in determining resource allocation and assessing performance. During the first quarter of 2019, the Company reorganized its business segments to reflect a new operating structure as a result of a change in how the Company’s chief operating decision maker allocates resources, makes operating decisions and assesses the performance of the business. The Company’s two current reportable business segments are described below.

Work Truck Attachments. The Work Truck Attachments segment includes the Company’s operations that manufacture and sell snow and ice control attachments and other products sold under the FISHER®, WESTERN®, and SNOWEX® brands.

Work Truck Solutions. The Work Truck Solutions segment includes manufactured municipal snow and ice control products under the HENDERSON® brand and the up-fit of market leading attachments and storage solutions under the HENDERSON® brand, and the DEJANA® brand and its related sub-brands.

Segment performance is evaluated based on segment net sales and adjusted EBITDA. Separate financial information is available for the two operating segments. In addition, segment results include an allocation of all corporate costs to Work Truck Attachments and Work Truck Solutions. Prior period segment information has been recast to align with this change in reporting structure and to reflect an allocation of corporate costs. No single customer’s revenues amounted to 10% or more of the Company’s total revenue. Sales are primarily within the United States and substantially all assets are located within the United States.

Historically, sales from Work Truck Attachments to Work Truck Solutions were recorded at third party pricing. In 2018 and 2019, sales between Work Truck Attachments and Work Truck Solutions reflect the

Company’s intercompany pricing policy. The following table shows summarized financial information concerning the Company’s reportable segments:


Adjusted EBITDA
Work Truck Attachments	$	80,747	$	80,396	$	64,101
Work Truck Solutions		27,358		16,047		26,826
Total Adjusted EBITDA	$	108,105	$	96,443	$	90,927
Less items to reconcile Adjusted EBITDA to Income before taxes:
Interest expense - net		16,782		16,943		18,336
Depreciation expense		8,256		7,613		7,183
Amortization		10,956		11,472		11,401
Purchase accounting (1)		(417)		(900)		(1,786)
Stock based compensation		3,239		4,550		3,500
Litigation proceeds		(200)		-		(1,275)
Pension termination		6,609		-		-
Other charges (2)		263		1,006		653
Income before taxes	$	62,617	$	55,759	$	52,915