Corcoran Heavy Industries Company (CHIC) is organized into four divisions, each of which operates in a different industry. The types of customer served and the method used to distribute products differ across all four of these industries. In addition, each division must comply with its own unique set of industry regulations related to issues such as safety and recyclability of materials.
Operating profit before depreciation and amortization is the measure of profit regularly used by the chief operating decision maker for evaluating the performance of each of these divisions. In addition, information for each division on capital expenditures and depreciation and amortization is routinely provided by corporate headquarters to the chief operating decision maker. A summary of the information provided to the chief operating decision maker at the end of the current year is as follows:

In compiling notes to the financial statements, CHIC's accountants prepared the following Note to comply with the operating segment disclosure requirements of ASC Topic 280, "Segment Reporting."

Required
1. Prepare a report for CHIC's management evaluating whether the operating segments disclosures prepared by CHIC's accountants comply with ASC 280.
2. Prepare a revised operating segments note to comply with ASC 280. CHIC does not have any unusual or extraordinary items, significant noncash items other than depreciation and amortization, or equity method affiliates.

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DIvision Ships $ in thousands) Sales to outside parties. . Intersegment sales . _ _ . . . _ . . .. Total sales. Operating expense xternal Operating expense-internal Automobiles Trucks Helicopters Total $4,007,304 644,243 $10,218,780 952,225 $4,104,414 $1,411,235 $1,003,809 $11,171,005 8,590,959 952,225 $3,796,432 $1,411,235 $1,003,809 307,982 $4,651,547 3,480,666 289,589 3,147,086 1,004,464 57,893 958,743 103,945 500,798 DIvision Ships $ in thousands) Operating profit before depreciation Automobiles Trucks Helicopters Total 881,292 456,530 348,878 (58,879)1,627,821 and amortization Depreciation and amortization Interest expense Income before tax Income taxes Profit (loss) Segment assets Corporate headquarters assets Total assets 180,345 170,976 97,638 58,617 507,576 130,655 $ 989,590 376,044 $ 613546 9,993,830 1,008,988 $11,002,818 $ 1,015,669 3,987,776 $3,209,078 $1,587,006 $1,209,970 Capital expenditures $ 349,776 $ 365,543 276,655 $ 23,695 Note X. Operating Segments ($ in thousands) Revenues Segment Profit (Loss) Automobiles Trucks Other $4,651,547 $ 881,292 $3,987,776 $4,104,414 $ 456,530 $3,209,078 $2,415,044 $ 289,999 $2,796,976