Revenue

3 Months Ended

Mar. 31, 2026

Revenue from Contract with Customer [Abstract]

Revenue from Contract with Customer

Revenue

Disaggregation of Revenue

We disaggregate our revenue from contracts with customers by major product or service line, as this depicts how the nature, amount, timing, and uncertainty of our revenue and cash flows are affected by economic factors. The following table presents our disaggregated revenues by major product or service line for each reportable segment:

	Three Months Ended March 31,
	2026		2025
	($ in millions)
Railcar Leasing and Services Group ("Leasing Group"):
Leasing and management	$	210.3	$	219.0
Maintenance services	63.2		59.2
Digital and logistics services	12.3		9.2
	285.8		287.4
Rail Products Group:
Rail products	275.2		387.8
Parts & components	24.8		32.7
	300.0		420.5
Elimination of intersegment revenues	(93.8)		(122.5)
Total consolidated revenues	$	492.0	$	585.4

Unsatisfied Performance Obligations

The following table includes estimated revenue expected to be recognized in future periods related to performance obligations that are unsatisfied or partially satisfied as of March 31, 2026 and the percentage of the outstanding performance obligations as of March 31, 2026 expected to be delivered during the remainder of 2026:

	Unsatisfied performance obligations at March 31, 2026
	Total Amount		Percent expected to be delivered in 2026
	(in millions)
Rail Products Group:
New railcars:
External customers	$	1,510.2
Leasing Group	99.9
	$	1,610.1	42	%
Sustainable railcar conversions	$	37.7	100	%
Railcar Leasing and Services Group:
Leasing and management	$	60.4	25	%

The remainder of the unsatisfied performance obligations for the Rail Products Group is expected to be delivered through 2028. The orders in the Rail Products Group's backlog from the Leasing Group are fully supported by lease commitments with external customers. The final amount of backlog attributable to the Leasing Group may vary by the time of delivery as customers may elect to modify their procurement decision.

Unsatisfied performance obligations for the Railcar Leasing and Services Group are related to servicing, maintenance, and management agreements and are expected to be performed through 2035.

Contract Assets

The following table presents our contract assets, which are included within the Receivables, net of allowance line in our Consolidated Balance Sheets.

	March 31, 2026		December 31, 2025
	(in millions)
Railcar Leasing and Services Group	$	12.1	$	10.9
Rail Products Group	$	5.3	$	4.9