Segment financial information for the three months ended June 30, 2025 is as follows:


In millions	Freight Segment			Transit Segment			Corporate Activities and Elimination		Total
Sales to external customers	$	1,919		$	787		$	—	$	2,706
Cost of sales	(1,222)			(546)			—		(1,768)
Gross profit	$	697		$	241		$	—	$	938
Gross margin	36.3		%	30.7		%
Selling, general & administrative expenses	$	(181)		$	(114)		$	(52)	$	(347)
Engineering expenses	(38)			(12)			—		(50)
Amortization expense	(63)			(6)			—		(69)
Income (loss) from operations	415			109			(52)		472
Interest expense and other, net	—			—			(22)		(22)
Income (loss) before income taxes	$	415		$	109		$	(74)	$	450
Intersegment sales/(elimination)	$	13		$	12		$	(25)	$	—
Depreciation and amortization	$	95		$	18		$	4	$	117
Capital expenditures	$	25		$	12		$	2	$	39
Segment assets	$	13,390		$	4,405		$	2,596	$	20,391

Segment financial information for the three months ended June 30, 2024 is as follows:


In millions	Freight Segment			Transit Segment			Corporate Activities and Elimination		Total
Sales to external customers	$	1,920		$	724		$	—	$	2,644
Cost of sales	(1,251)			(519)			—		(1,770)
Gross profit	$	669		$	205		$	—	$	874
Gross margin	34.8		%	28.3		%
Selling, general & administrative expenses	$	(165)		$	(108)		$	(43)	$	(316)
Engineering expenses	(47)			(10)			—		(57)
Amortization expense	(66)			(5)			—		(71)
Income (loss) from operations	391			82			(43)		430
Interest expense and other, net	—			—			(45)		(45)
Income (loss) before income taxes	$	391		$	82		$	(88)	$	385
Intersegment sales/(elimination)	$	12		$	10		$	(22)	$	—
Depreciation and amortization	$	98		$	16		$	4	$	118
Capital expenditures	$	33		$	12		$	1	$	46
Segment assets	$	13,355		$	3,917		$	1,604	$	18,876


In millions	Freight Segment			Transit Segment			Corporate Activities and Elimination		Total
Sales to external customers	$	3,820		$	1,496		$	—	$	5,316
Cost of sales	(2,438)			(1,040)			—		(3,478)
Gross profit	$	1,382		$	456		$	—	$	1,838
Gross margin	36.2		%	30.5		%
Selling, general & administrative expenses	$	(345)		$	(221)		$	(88)	$	(654)
Engineering expenses	(74)			(22)			—		(96)
Amortization expense	(128)			(14)			—		(142)
Income (loss) from operations	835			199			(88)		946
Interest expense and other, net	—			—			(70)		(70)
Income (loss) before income taxes	$	835		$	199		$	(158)	$	876
Intersegment sales/(elimination)	$	24		$	21		$	(45)	$	—
Depreciation and amortization	$	192		$	38		$	7	$	237
Capital expenditures	$	56		$	22		$	5	$	83

Segment financial information for the six months ended June 30, 2024 is as follows:


In millions	Freight Segment			Transit Segment			Corporate Activities and Elimination		Total
Sales to external customers	$	3,744		$	1,397		$	—	$	5,141
Cost of sales	(2,450)			(1,002)			—		(3,452)
Gross profit	$	1,294		$	395		$	—	$	1,689
Gross margin	34.6		%	28.3		%
Selling, general & administrative expenses	$	(315)		$	(209)		$	(73)	$	(597)
Engineering expenses	(86)			(19)			—		(105)
Amortization expense	(134)			(11)			—		(145)
Income (loss) from operations	759			156			(73)		842
Interest expense and other, net	—			—			(94)		(94)
Income (loss) before income taxes	$	759		$	156		$	(167)	$	748
Intersegment sales/(elimination)	$	25		$	21		$	(46)	$	—
Depreciation and amortization	$	201		$	32		$	8	$	241
Capital expenditures	$	50		$	25		$	2	$	77