We identify our reportable segments based on our management structure and the financial data utilized by our chief operating decision maker to assess segment performance and allocate resources among our operating units. We have two reportable segments: Fleet Vehicles and Services and Specialty Vehicles.

We evaluate the performance of our reportable segments based on Adjusted EBITDA (earnings before interest, taxes, depreciation and amortization) and it is calculated by excluding items that we believe to be infrequent or not indicative of our underlying operating performance, as well as certain non-cash expenses. We define Adjusted EBITDA as income from continuing operations before interest, income taxes, depreciation and amortization, as adjusted to eliminate the impact of restructuring charges, acquisition related expenses and adjustments, non-cash stock-based compensation expenses, and other gains and losses not reflective of our ongoing operations.

Our FVS segment manufactures commercial vehicles used in the e-commerce/last mile/parcel delivery, beverage and grocery delivery, laundry and linen, mobile retail, and trades industries. Our commercial vehicles are marketed under the Utilimaster brand name, which serves a diverse customer base and sells aftermarket parts and accessories for walk-in vans and other delivery vehicles. We also provide vocation-specific equipment upfit services.

Our SV segment includes our Spartan RV chassis operations, Builtmore Contract Manufacturing operations, Royal Truck Body and DuraMag service body operations, vocation-specific equipment upfit services marketed under the Strobes-R-Us brand, and distribution of related aftermarket parts and accessories.

The accounting policies of the segments are the same as those described, or referred to, in "Note 1 – Nature of Operations and Basis of Presentation.". Assets and related depreciation expense in the column labeled “Eliminations and Other” pertain to capital assets maintained at the corporate level. Eliminations for inter-segment sales are shown in the column labeled “Eliminations and Other.” Adjusted EBITDA in the “Eliminations and Other” column contains corporate related expenses not allocable to the operating segments. Interest expense and Income tax expense are not included in the information utilized by the chief operating decision maker to assess segment performance and allocate resources, and accordingly, are excluded from the segment results presented below.

	Three Months Ended June 30, 2023
	Segment
	FVS		SV		Eliminations and Other			Consolidated

Fleet vehicle sales	$	125,291	$	-	$	-		$	125,291
Motorhome chassis sales		-		30,099		-			30,099
Other specialty vehicle sales		-		51,652		(1,443	)		50,209
Aftermarket parts and accessories sales		13,692		5,810		-			19,502
Total sales	$	138,983	$	87,561	$	(1,443	)	$	225,101

Depreciation and amortization expense	$	1,641	$	1,700	$	845		$	4,186
Adjusted EBITDA		12,468		17,367		(13,968	)		15,867
Segment assets		252,352		194,718		48,776			495,846
Capital expenditures		1,702		438		5,137			7,277

	Three Months Ended June 30, 2022
	Segment
	FVS		SV		Eliminations and Other			Consolidated

Fleet vehicle sales	$	126,181	$	-	$	-		$	126,181
Motorhome chassis sales		-		42,710		-			42,710
Other specialty vehicle sales		-		47,044		-			47,044
Aftermarket parts and accessories sales		10,716		5,544		-			16,260
Total sales	$	136,897	$	95,298	$	-		$	232,195

Depreciation and amortization expense	$	1,182	$	1,953	$	592		$	3,727
Adjusted EBITDA		14,525		12,859		(13,695	)		13,689
Segment assets		228,863		223,388		42,762			495,013
Capital expenditures		3,666		452		929			5,047