(13) 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.

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 rail leasing segment derives its revenue from the ownership and leasing of railcars. The logistics segment derives its revenue from the provision of logistics services. There are no material inter-segment revenues.

With the exception of administrative expenses, operating expenses are directly attributable to each segment. Administrative expenses that are not directly attributable to a segment are allocated to the segments based upon relative asset values or revenue.

The following tables show condensed segment information for the three months ended March 31, 2020 and 2019, reconciled to the Company’s income before income taxes as shown in its consolidated statements of operations for such periods (in thousands):


	Three Months Ended March 31, 2020
	Container Leasing		Rail Leasing		Logistics		Total
Total revenue	$	69,113	$	5,803	$	30,106	$	105,022
Total operating expenses		36,639		21,374		30,977		88,990
Operating income (loss)		32,474		(15,571)		(871)		16,032
Net interest and other expenses (income)		18,520		2,105		(3)		20,622
Income (loss) before income taxes	$	13,954	$	(17,676)	$	(868)	$	(4,590)
Purchase of rental equipment (1)	$	27,500	$	-	$	-	$	27,500


	Three Months Ended March 31, 2019
	Container Leasing		Rail Leasing		Logistics		Total
Total revenue	$	75,511	$	7,881	$	27,716	$	111,108
Total operating expenses (income)		38,409		(1,212)		29,790		66,987
Operating income (loss)		37,102		9,093		(2,074)		44,121
Net interest and other expenses (income)		19,947		3,945		(4)		23,888
Income (loss) before income taxes	$	17,155	$	5,148	$	(2,070)	$	20,233
Purchase of rental equipment (1)	$	108,090	$	33,122	$	-	$	141,212

(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):


	March 31, 2020		December 31, 2019
Container leasing	$	2,561,222	$	2,565,828
Logistics (2)		42,917		42,478
Rail		274,339		293,459
Total assets	$	2,878,478	$	2,901,765

(2) Includes goodwill of $15.8 million as of March 31, 2020 and December 31, 2019.

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 March 31,
	2020		2019
United States	$	37,145	$	37,366
Switzerland		12,516		14,048
Singapore		9,850		10,034
Korea		9,239		9,870
France		7,630		8,933
Other Europe		15,240		15,199
Other Asia		12,587		15,308
Other International		815		350
Total revenue	$	105,022	$	111,108