Note 4. Segment Information Segment Information (Tables)

12 Months Ended

Dec. 31, 2024

Segment Reporting Information [Line Items]

Schedule of Segment Reporting Information, by Segment [Table Text Block]

The financial information for these segments is shown in the tables below (in millions).

	Year Ended December 31, 2024
	Railcar Leasing and Services Group		Rail Products Group		Total
External revenue	$	1,140.8	$	1,938.4	$	3,079.2
Intersegment revenue	2.4		492.7		495.1
Total revenues	1,143.2		2,431.1		3,574.3
Elimination of intersegment revenues					(495.1)
Total consolidated revenues					$	3,079.2
Less (1):
Rail Products Group cost of revenues (2)	*		2,209.0
Depreciation and amortization for Company-owned railcars (3)	240.1		*
Maintenance and compliance for Company-owned railcars (3)(4)	131.8		*
Selling, engineering, and administrative expenses	77.0		32.8
Gains on lease portfolio sales	(57.3)		*
Other segment items (5)	287.6		(0.1)
Segment operating profit	$	464.0	$	189.4	$	653.4

	Year Ended December 31, 2023
	Railcar Leasing and Services Group		Rail Products Group		Total
External revenue	$	1,039.4	$	1,943.9	$	2,983.3
Intersegment revenue	1.6		535.5		537.1
Total revenues	1,041.0		2,479.4		3,520.4
Elimination of intersegment revenues					(537.1)
Total consolidated revenues					$	2,983.3
Less (1):
Rail Products Group cost of revenues (2)	*		2,336.0
Depreciation and amortization for Company-owned railcars (3)	238.5		*
Maintenance and compliance for Company-owned railcars (3)(4)	130.5		*
Selling, engineering, and administrative expenses	62.0		30.5
Gains on lease portfolio sales	(82.8)		*
Other segment items (5)	255.3		0.3
Segment operating profit	$	437.5	$	112.6	$	550.1

	Year Ended December 31, 2022
	Railcar Leasing and Services Group		Rail Products Group		Total
External revenue	$	850.0	$	1,127.3	$	1,977.3
Intersegment revenue	1.5		758.2		759.7
Total revenues	851.5		1,885.5		2,737.0
Elimination of intersegment revenues					(759.7)
Total consolidated revenues					$	1,977.3
Less (1):
Rail Products Group cost of revenues (2)	*		1,789.9
Depreciation and amortization for Company-owned railcars (3)	234.4		*
Maintenance and compliance for Company-owned railcars (3)(4)	112.1		*
Selling, engineering, and administrative expenses	59.1		29.1
Gains on lease portfolio sales	(127.5)		*
Other segment items (5)	171.6		0.9
Segment operating profit	$	401.8	$	65.6	$	467.4

*Not identified as a significant expense for this segment.

(1) Significant expense categories and amounts align with the segment-level information that is regularly provided to and reviewed by the CODM. Intersegment expenses are included within the amounts shown.

(2) Cost of revenues in the Rail Products Group primarily includes materials, labor, and overhead, including depreciation and amortization.

(3) Company-owned railcars include wholly-owned railcars, partially-owned railcars, and railcars under leased-in arrangements.

(4) Maintenance and compliance expense is reported at cost with respect to the services performed by our maintenance services business to support the railcars in our lease fleet.

(5) Other segment items for each reportable segment include:

–Railcar Leasing and Services Group: the remaining operating costs for our maintenance services and digital and logistics services businesses, including materials, labor, and overhead costs; other operating costs for the lease fleet, including equipment rental, property taxes, and freight and storage expenses; and gains or losses on dispositions of other property.

–Rail Products Group: (gains) or losses on dispositions of other property.

Reconciliation of Operating Profit (Loss) from Segments to Consolidated

The reconciliation of segment operating profit to consolidated net income is as follows:

	Year Ended December 31,
	2024		2023		2022
	(in millions)
Operating profit:
Railcar Leasing and Services Group	$	464.0	$	437.5	$	401.8
Rail Products Group	189.4		112.6		65.6
Segment Totals	653.4		550.1		467.4
Corporate and other	(125.7)		(108.3)		(80.8)
Restructuring activities, net	(4.3)		2.2		(1.0)
Eliminations	(31.9)		(27.0)		(51.6)
Consolidated operating profit	491.5		417.0		334.0
Other (income) expense	269.7		268.0		207.5
Provision (benefit) for income taxes	50.4		9.0		27.6
Loss from discontinued operations, net of income taxes	(14.3)		(13.4)		(20.3)
Loss on sale of discontinued operations, net of income taxes	—		—		(5.7)
Net income	$	157.1	$	126.6	$	72.9

Reconciliation of Other Significant Reconciling Items from Segments to Consolidated [Table Text Block]

Additional financial information by segment is shown in the tables below.

	Total Assets
	December 31, 2024		December 31, 2023
	(in millions)
Railcar Leasing and Services Group	$	8,151.7	$	8,118.8
Rail Products Group	967.7		1,189.2
Segment Totals	9,119.4		9,308.0
Corporate and other	383.3		286.3
Eliminations	(670.5)		(687.8)
Total assets	$	8,832.2	$	8,906.5

	Depreciation & Amortization						Capital Expenditures
	Year Ended December 31,						Year Ended December 31,
	2024		2023		2022		2024		2023		2022
	(in millions)
Railcar Leasing and Services Group	$	262.2	$	258.0	$	249.3	$	568.1	$	688.0	$	951.1
Rail Products Group	27.6		30.3		21.9		27.2		20.6		13.4
Corporate and other	4.0		4.9		5.2		0.4		1.5		2.3
Total	$	293.8	$	293.2	$	276.4	$	595.7	$	710.1	$	966.8