(17) Segment and Geographic Information

The Company organizes itself by the nature of the services it provides which includes equipment leasing (consisting of container leasing and rail leasing) and logistics.

As disclosed in Note 3, the Company’s railcar assets have been reclassified as held for sale in the accompanying unaudited consolidated balance sheets and the operations of the rail business have been reclassified as discontinued operations in the accompanying unaudited consolidated statements of income. As a result, the Company will no longer report Rail leasing as a segment. The Company revised prior period information to conform to current period presentation.

The container leasing segment is aggregated with equipment management and derives its revenue from the ownership and leasing of containers and fees earned for managing container portfolios on behalf of third-party investors. The logistics segment derives its revenue from the provision of logistics services. There are no material inter-segment revenues and operating expenses are directly attributable to each segment.

The following tables show condensed segment information for the three and six months ended June 30, 2019 and 2018, reconciled to the Company’s income before income taxes as shown in its consolidated statements of income for such periods (in thousands):


	Three Months Ended June 30, 2019
	Container Leasing		Logistics		Total
Total revenue	$	75,774	$	29,802	$	105,576
Total operating expenses		38,156		31,410		69,566
Operating income (loss)		37,618		(1,608)		36,010
Net interest and other expenses (income)		20,144		(4)		20,140
Income (loss) before income taxes	$	17,474	$	(1,604)	$	15,870
Purchase of rental equipment (1)	$	59,352	$	-	$	59,352


	Three Months Ended June 30, 2018
	Container Leasing		Logistics		Total
Total revenue	$	68,333	$	28,253	$	96,586
Total operating expenses		31,386		28,679		60,065
Operating income (loss)		36,947		(426)		36,521
Net interest and other expenses (income)		15,031		(8)		15,023
Income (loss) before income taxes	$	21,916	$	(418)	$	21,498
Purchase of rental equipment (1)	$	148,917	$	-	$	148,917


	Six Months Ended June 30, 2019
	Container Leasing		Logistics		Total
Total revenue	$	151,285	$	57,518	$	208,803
Total operating expenses		76,870		61,151		138,021
Operating income (loss)		74,415		(3,633)		70,782
Net interest and other expenses (income)		40,091		(8)		40,083
Income (loss) before income taxes	$	34,324	$	(3,625)	$	30,699
Purchase of rental equipment (1)	$	167,442	$	-	$	167,442


	Six Months Ended June 30, 2018
	Container Leasing		Logistics		Total
Total revenue	$	132,967	$	49,889	$	182,856
Total operating expenses		63,144		51,082		114,226
Operating income (loss)		69,823		(1,193)		68,630
Net interest and other expenses (income)		28,353		(11)		28,342
Income (loss) before income taxes	$	41,470	$	(1,182)	$	40,288
Purchase of rental equipment (1)	$	226,033	$	-	$	226,033

(1) Represents cash disbursements for purchasing of rental equipment as reflected in the consolidated statements of cash flows for the periods indicated.

The summary below presents total assets for the Company's segments as of the dates indicated (in thousands):


	June 30, 2019		December 31, 2018
Container leasing	$	2,608,745	$	2,506,279
Logistics (2)		44,994		45,951
Rail (3)		331,151		460,387
Total assets	$	2,984,890	$	3,012,617

(2) Includes goodwill of $15.8 million as of June 30, 2019 and December 31, 2018.

(3) Represents total assets related to discontinued operations, including assets held for sale of $320.8 million and $449.7 million as of June 30, 2019 and December 31, 2018, respectively.

Geographic Data

The Company earns its revenue primarily from intermodal containers, which are deployed by its customers in a wide variety of global trade routes. Virtually all of the Company’s containers are used internationally and typically no container is domiciled in one particular place for a prolonged period of time. As such, substantially all of the Company’s long-lived assets are considered to be international, with no single country of use.

The following table represents the geographic allocation of revenue for the periods indicated based on customers’ primary domicile (in thousands):




	Three Months Ended June 30,				Six Months Ended June 30,
	2019		2018		2019		2018
United States	$	31,468	$	30,076	$	60,953	$	53,544
Switzerland		13,827		11,213		27,875		22,317
Korea		10,684		6,813		20,554		13,220
Singapore		10,316		5,422		20,350		10,738
France		8,881		9,223		17,814		18,140
Other Asia		14,667		17,746		29,975		33,780
Other Europe		15,324		13,674		30,523		26,158
Other International		409		2,419		759		4,959
Total revenue	$	105,576	$	96,586	$	208,803	$	182,856