v3.25.2
Segment Information (Tables)
 6 Months Ended
Jun. 30, 2025
Segment Reporting [Abstract]  
Schedule of Segment Reporting Information, by Segment [Table Text Block]
The financial information for these segments is shown in the tables below (in millions). We operate principally in North America.
Three Months Ended June 30, 2025Three Months Ended June 30, 2024
Railcar Leasing and Services GroupRail Products GroupTotalRailcar Leasing and Services GroupRail Products GroupTotal
External revenues$302.1 $204.1 $506.2 $280.5 $560.9 $841.4 
Intersegment revenues0.3 89.4 89.7 0.9 73.3 74.2 
Total revenues302.4 293.5 595.9 281.4 634.2 915.6 
Elimination of intersegment revenues(89.7)(74.2)
Total consolidated revenues$506.2 $841.4 
Less (1):
Rail Products Group cost of revenues (2)
*277.9 *576.0 
Depreciation and amortization for Company-owned railcars (3)
61.8 *60.1 *
Maintenance and compliance for Company-owned railcars (3)(4)
43.1 *35.0 *
Selling, engineering, and administrative expenses13.9 6.7 20.0 7.8 
Gains on lease portfolio sales(7.8)*(22.7)*
Other segment items (5)
72.8 — 61.0 — 
Segment operating profit$118.6 $8.9 $127.5 $128.0 $50.4 $178.4 
Six Months Ended June 30, 2025Six Months Ended June 30, 2024
Railcar Leasing and Services GroupRail Products GroupTotalRailcar Leasing and Services GroupRail Products GroupTotal
External revenues$589.3 $502.3 $1,091.6 $564.8 $1,086.2 $1,651.0 
Intersegment revenues0.5 211.7 212.2 1.8 215.4 217.2 
Total revenues589.8 714.0 1,303.8 566.6 1,301.6 1,868.2 
Elimination of intersegment revenues(212.2)(217.2)
Total consolidated revenues$1,091.6 $1,651.0 
Less (1):
Rail Products Group cost of revenues (2)
*665.6 *1,191.9 
Depreciation and amortization for Company-owned railcars (3)
122.9 *120.0 *
Maintenance and compliance for Company-owned railcars (3)(4)
81.1 *65.4 *
Selling, engineering, and administrative expenses32.6 13.6 38.1 15.5 
Gains on lease portfolio sales(13.7)*(24.8)*
Other segment items (5)
143.8 — 139.6 — 
Segment operating profit$223.1 $34.8 $257.9 $228.3 $94.2 $322.5 
*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:
 Three Months Ended
June 30,		Six Months Ended
June 30,
 2025202420252024
 (in millions)
Operating profit:
Railcar Leasing and Services Group$118.6 $128.0 $223.1 $228.3 
Rail Products Group8.9 50.4 34.8 94.2 
Segment Totals127.5 178.4 257.9 322.5 
Corporate and other(26.5)(33.3)(50.9)(59.8)
Eliminations(5.6)(3.2)(11.8)(5.6)
Consolidated operating profit95.4 141.9 195.2 257.1 
Other (income) expense69.4 66.7 132.8 139.2 
Provision (benefit) for income taxes4.1 17.1 11.5 28.1 
Loss from discontinued operations, net of income taxes(1.9)(1.7)(3.8)(6.0)
Net income$20.0 $56.4 $47.1 $83.8 
Segment, Reconciliation of Other Items from Segments to Consolidated
Additional financial information by segment is shown in the tables below.
Total Assets
June 30, 2025December 31, 2024
(in millions)
Railcar Leasing and Services Group$8,265.5 $8,151.7 
Rail Products Group893.4 967.7 
Segment Totals9,158.9 9,119.4 
Corporate and other318.6 383.3 
Eliminations(667.5)(670.5)
Total assets$8,810.0 $8,832.2 
Depreciation & AmortizationCapital Expenditures
 Three Months Ended
June 30,		Three Months Ended
June 30,
 2025202420252024
 (in millions)
Railcar Leasing and Services Group$67.4 $65.6 $179.1 $91.4 
Rail Products Group6.9 7.1 4.6 4.8 
Corporate and other0.9 1.1 0.5 0.3 
Total$75.2 $73.8 $184.2 $96.5 
Depreciation & AmortizationCapital Expenditures
 Six Months Ended
June 30,		Six Months Ended
June 30,
 2025202420252024
 (in millions)
Railcar Leasing and Services Group$133.9 $131.0 $301.6 $241.4 
Rail Products Group13.9 14.0 11.2 6.9 
Corporate and other1.7 2.2 0.8 0.3 
Total$149.5 $147.2 $313.6 $248.6