$RAIL
FreightCar America, Inc.

2022 Q4 Form 10-Q Financial Statement

#000095017022022653 Filed on November 07, 2022

View on sec.gov

Income Statement

Concept 2022 Q4 2022 Q3 2021 Q3
Revenue $129.0M $85.74M $58.31M
YoY Change 71.94% 47.05% 131.36%
Cost Of Revenue $124.4M $81.19M $56.77M
YoY Change 81.79% 43.02% 93.88%
Gross Profit $4.622M $4.554M $1.538M
YoY Change -30.04% 196.1% -137.71%
Gross Profit Margin 3.58% 5.31% 2.64%
Selling, General & Admin $6.349M $7.112M $5.701M
YoY Change -0.58% 24.75% -20.35%
% of Gross Profit 137.36% 156.17% 370.68%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $1.025M $1.050M $1.108M
YoY Change 2.5% -5.23% -47.24%
% of Gross Profit 22.18% 23.06% 72.04%
Operating Expenses $6.349M $7.112M $5.701M
YoY Change -0.58% 24.75% -20.35%
Operating Profit -$1.727M -$10.66M -$4.163M
YoY Change -881.45% 156.14% -89.93%
Interest Expense -$3.130M -$7.361M -$3.855M
YoY Change -9305.88% 90.95% -1953.37%
% of Operating Profit
Other Income/Expense, Net $79.00K $190.0K $145.0K
YoY Change -75.84% 31.03% -9.38%
Pretax Income -$9.293M -$17.83M $2.256M
YoY Change -2328.54% -890.51% -105.45%
Income Tax $440.0K -$28.00K $1.525M
% Of Pretax Income 67.6%
Net Earnings -$9.733M -$17.81M $731.0K
YoY Change -935.45% -2535.84% -101.81%
Net Earnings / Revenue -7.55% -20.77% 1.25%
Basic Earnings Per Share -$0.69 $0.03
Diluted Earnings Per Share -$0.39 -$0.69 $0.03
COMMON SHARES
Basic Shares Outstanding 17.22M 16.70M 20.49M
Diluted Shares Outstanding 25.72M 22.11M

Balance Sheet

Concept 2022 Q4 2022 Q3 2021 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $37.91M $18.37M $27.49M
YoY Change 44.48% -33.16% -16.2%
Cash & Equivalents $37.91M $18.37M $27.49M
Short-Term Investments
Other Short-Term Assets $12.41M $12.11M $14.65M
YoY Change -9.89% -17.35% 209.35%
Inventory $64.32M $84.22M $44.64M
Prepaid Expenses $5.470M $8.094M $6.297M
Receivables $9.571M $12.17M $7.733M
Other Receivables $4.682M $5.047M $30.08M
Total Short-Term Assets $128.9M $131.9M $124.6M
YoY Change -5.73% 5.88% 5.01%
LONG-TERM ASSETS
Property, Plant & Equipment $23.25M $21.14M $18.93M
YoY Change 27.48% 11.68% -2.65%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $1.589M $4.571M $3.131M
YoY Change -82.09% 45.99% 283.23%
Total Long-Term Assets $70.85M $61.13M $59.51M
YoY Change 10.81% 2.72% -35.63%
TOTAL ASSETS
Total Short-Term Assets $128.9M $131.9M $124.6M
Total Long-Term Assets $70.85M $61.13M $59.51M
Total Assets $199.7M $193.1M $184.1M
YoY Change -0.46% 4.86% -12.79%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $48.45M $44.43M $28.34M
YoY Change 17.64% 56.8% 37.51%
Accrued Expenses $7.759M $8.889M $9.035M
YoY Change -13.43% -1.62% -70.18%
Deferred Revenue $0.00 $455.0K
YoY Change -100.0% -98.47%
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $40.74M $0.00 $10.16M
YoY Change -100.0% -35.79%
Total Short-Term Liabilities $106.0M $64.29M $62.70M
YoY Change 52.89% 2.54% -39.43%
LONG-TERM LIABILITIES
Long-Term Debt $51.49M $91.60M $70.72M
YoY Change -35.21% 29.52% 1516.46%
Other Long-Term Liabilities $3.750M $4.370M $3.827M
YoY Change 19.66% 14.19% 11.06%
Total Long-Term Liabilities $55.24M $95.97M $74.55M
YoY Change -33.13% 28.73% 853.16%
TOTAL LIABILITIES
Total Short-Term Liabilities $106.0M $64.29M $62.70M
Total Long-Term Liabilities $55.24M $95.97M $74.55M
Total Liabilities $228.3M $211.9M $194.0M
YoY Change 12.85% 9.21% 17.81%
SHAREHOLDERS EQUITY
Retained Earnings -$118.9M -$109.2M -$81.23M
YoY Change 48.52% 34.41% 235.17%
Common Stock $203.0K $201.0K $159.0K
YoY Change 6.84% 26.42% 16.91%
Preferred Stock
YoY Change
Treasury Stock (at cost) $856.0K
YoY Change -36.17%
Treasury Stock Shares $214.5K
Shareholders Equity -$28.58M -$18.85M -$9.920M
YoY Change
Total Liabilities & Shareholders Equity $199.7M $193.1M $184.1M
YoY Change -0.46% 4.86% -12.79%

Cashflow Statement

Concept 2022 Q4 2022 Q3 2021 Q3
OPERATING ACTIVITIES
Net Income -$9.733M -$17.81M $731.0K
YoY Change -935.45% -2535.84% -101.81%
Depreciation, Depletion And Amortization $1.025M $1.050M $1.108M
YoY Change 2.5% -5.23% -47.24%
Cash From Operating Activities $25.09M -$11.19M -$12.85M
YoY Change 1507.17% -12.92% -29.4%
INVESTING ACTIVITIES
Capital Expenditures $4.436M -$572.0K -$550.0K
YoY Change -1544.95% 4.0% -57.69%
Acquisitions
YoY Change
Other Investing Activities $0.00 $0.00 $0.00
YoY Change -100.0%
Cash From Investing Activities -$4.436M -$572.0K -$550.0K
YoY Change 1344.95% 4.0% -122.92%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -1.111M 8.601M 20.16M
YoY Change -55.56% -57.33%
NET CHANGE
Cash From Operating Activities 25.09M -11.19M -12.85M
Cash From Investing Activities -4.436M -572.0K -550.0K
Cash From Financing Activities -1.111M 8.601M 20.16M
Net Change In Cash 19.54M -3.160M 6.756M
YoY Change -1668.3% -146.77% -142.76%
FREE CASH FLOW
Cash From Operating Activities $25.09M -$11.19M -$12.85M
Capital Expenditures $4.436M -$572.0K -$550.0K
Free Cash Flow $20.65M -$10.62M -$12.30M
YoY Change 1005.57% -13.68% -27.22%

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CY2021Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.03
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-1.19
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-2.11
CY2022Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
25718414
CY2021Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
20485438
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
24470659
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
20225671
CY2022Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
25718414
CY2021Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
-12353000
CY2021Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
22111824
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
24470659
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
20225671
CY2022Q3 us-gaap Income Loss From Continuing Operations Including Portion Attributable To Noncontrolling Interest
IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest
-17806000
CY2021Q3 us-gaap Income Loss From Continuing Operations Including Portion Attributable To Noncontrolling Interest
IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest
731000
us-gaap Income Loss From Continuing Operations Including Portion Attributable To Noncontrolling Interest
IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest
-29114000
us-gaap Income Loss From Continuing Operations Including Portion Attributable To Noncontrolling Interest
IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest
-42612000
CY2022Q3 rail Income Loss On Pension Settlement
IncomeLossOnPensionSettlement
8105000
CY2021Q3 rail Income Loss On Pension Settlement
IncomeLossOnPensionSettlement
0
rail Income Loss On Pension Settlement
IncomeLossOnPensionSettlement
8105000
rail Income Loss On Pension Settlement
IncomeLossOnPensionSettlement
0
CY2022Q3 us-gaap Reclassification From Accumulated Other Comprehensive Income Current Period Before Tax
ReclassificationFromAccumulatedOtherComprehensiveIncomeCurrentPeriodBeforeTax
-323000
CY2021Q3 us-gaap Reclassification From Accumulated Other Comprehensive Income Current Period Before Tax
ReclassificationFromAccumulatedOtherComprehensiveIncomeCurrentPeriodBeforeTax
155000
us-gaap Reclassification From Accumulated Other Comprehensive Income Current Period Before Tax
ReclassificationFromAccumulatedOtherComprehensiveIncomeCurrentPeriodBeforeTax
-156000
us-gaap Reclassification From Accumulated Other Comprehensive Income Current Period Before Tax
ReclassificationFromAccumulatedOtherComprehensiveIncomeCurrentPeriodBeforeTax
467000
CY2022Q3 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-10024000
CY2021Q3 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
886000
us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-21165000
us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-42145000
CY2021Q3 us-gaap Income Loss From Continuing Operations Including Portion Attributable To Noncontrolling Interest
IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest
731000
CY2021Q3 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
155000
CY2021Q3 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
54000
CY2021Q3 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
243000
CY2021Q3 rail Equity Fees
EquityFees
1250000
CY2021Q3 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
-9920000
CY2022Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
-10151000
CY2022Q3 us-gaap Income Loss From Continuing Operations Including Portion Attributable To Noncontrolling Interest
IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest
-17806000
CY2022Q3 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
7782000
CY2022Q3 us-gaap Adjustments Related To Tax Withholding For Share Based Compensation
AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation
44000
CY2022Q3 rail Adjustments To Additional Paid In Capital Stock Issued During Period Shares Restricted Stock Award Forfeited
AdjustmentsToAdditionalPaidInCapitalStockIssuedDuringPeriodSharesRestrictedStockAwardForfeited
-62000
CY2022Q3 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
433000
CY2022Q3 rail Equity Fees
EquityFees
1000000
CY2022Q3 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
-18848000
CY2020Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
30497000
us-gaap Income Loss From Continuing Operations Including Portion Attributable To Noncontrolling Interest
IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest
-42612000
us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
467000
us-gaap Adjustments Related To Tax Withholding For Share Based Compensation
AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation
12000
rail Adjustments To Additional Paid In Capital Stock Issued During Period Shares Restricted Stock Award Forfeited
AdjustmentsToAdditionalPaidInCapitalStockIssuedDuringPeriodSharesRestrictedStockAwardForfeited
-1000
us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
54000
us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
437000
rail Equity Fees
EquityFees
1250000
CY2021Q3 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
-9920000
CY2021Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
-1656000
us-gaap Income Loss From Continuing Operations Including Portion Attributable To Noncontrolling Interest
IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest
-29114000
us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
7949000
us-gaap Adjustments Related To Tax Withholding For Share Based Compensation
AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation
57000
rail Adjustments To Additional Paid In Capital Stock Issued During Period Shares Restricted Stock Award Forfeited
AdjustmentsToAdditionalPaidInCapitalStockIssuedDuringPeriodSharesRestrictedStockAwardForfeited
-69000
us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
1099000
us-gaap Income Loss From Continuing Operations Including Portion Attributable To Noncontrolling Interest
IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest
-42612000
CY2022Q3 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
-18848000
us-gaap Income Loss From Continuing Operations Including Portion Attributable To Noncontrolling Interest
IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest
-29114000
us-gaap Restructuring Costs And Asset Impairment Charges
RestructuringCostsAndAssetImpairmentCharges
6530000
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
3110000
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
3304000
us-gaap Operating Lease Right Of Use Asset Amortization Expense
OperatingLeaseRightOfUseAssetAmortizationExpense
944000
us-gaap Operating Lease Right Of Use Asset Amortization Expense
OperatingLeaseRightOfUseAssetAmortizationExpense
1173000
rail Recognition Of Deferred Income From State And Local Incentives
RecognitionOfDeferredIncomeFromStateAndLocalIncentives
2507000
rail Recognition Of Deferred Income From State And Local Incentives
RecognitionOfDeferredIncomeFromStateAndLocalIncentives
1665000
us-gaap Fair Value Adjustment Of Warrants
FairValueAdjustmentOfWarrants
3258000
us-gaap Fair Value Adjustment Of Warrants
FairValueAdjustmentOfWarrants
18969000
rail Income Loss On Pension Settlement
IncomeLossOnPensionSettlement
8105000
rail Income Loss On Pension Settlement
IncomeLossOnPensionSettlement
0
us-gaap Share Based Compensation
ShareBasedCompensation
2307000
us-gaap Share Based Compensation
ShareBasedCompensation
2829000
rail Amortization Of Financing Costs And Discounts Including Paid In Kind Interest
AmortizationOfFinancingCostsAndDiscountsIncludingPaidInKindInterest
11309000
rail Amortization Of Financing Costs And Discounts Including Paid In Kind Interest
AmortizationOfFinancingCostsAndDiscountsIncludingPaidInKindInterest
3782000
us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
0
us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
10129000
us-gaap Other Noncash Income Expense
OtherNoncashIncomeExpense
-314000
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
2603000
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
-1688000
rail Increase Decrease In Value Added Tax Receivable
IncreaseDecreaseInValueAddedTaxReceivable
-24634000
rail Increase Decrease In Value Added Tax Receivable
IncreaseDecreaseInValueAddedTaxReceivable
25622000
us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
30110000
us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
4276000
us-gaap Increase Decrease In Other Current Assets
IncreaseDecreaseInOtherCurrentAssets
3741000
us-gaap Increase Decrease In Other Current Assets
IncreaseDecreaseInOtherCurrentAssets
1682000
us-gaap Increase Decrease In Due From Related Parties Current
IncreaseDecreaseInDueFromRelatedPartiesCurrent
2263000
us-gaap Increase Decrease In Due From Related Parties Current
IncreaseDecreaseInDueFromRelatedPartiesCurrent
617000
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
4386000
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
1502000
rail Increase Decrease In Accrued Payroll And Employee Benefits
IncreaseDecreaseInAccruedPayrollAndEmployeeBenefits
536000
rail Increase Decrease In Accrued Payroll And Employee Benefits
IncreaseDecreaseInAccruedPayrollAndEmployeeBenefits
-302000
us-gaap Increase Decrease In Income Taxes Receivable
IncreaseDecreaseInIncomeTaxesReceivable
-737000
us-gaap Increase Decrease In Income Taxes Receivable
IncreaseDecreaseInIncomeTaxesReceivable
-1111000
rail Increase Decrease In Accrued Warranty
IncreaseDecreaseInAccruedWarranty
596000
rail Increase Decrease In Accrued Warranty
IncreaseDecreaseInAccruedWarranty
-2619000
rail Operating Lease Increase Decrease In Lease Liability
OperatingLeaseIncreaseDecreaseInLeaseLiability
-1439000
rail Operating Lease Increase Decrease In Lease Liability
OperatingLeaseIncreaseDecreaseInLeaseLiability
-1641000
rail Increase Decrease In Customer Deposit
IncreaseDecreaseInCustomerDeposit
-3300000
rail Increase Decrease In Customer Deposit
IncreaseDecreaseInCustomerDeposit
-3896000
us-gaap Increase Decrease In Other Operating Liabilities
IncreaseDecreaseInOtherOperatingLiabilities
1798000
us-gaap Increase Decrease In Other Operating Liabilities
IncreaseDecreaseInOtherOperatingLiabilities
-2492000
us-gaap Increase Decrease In Pension And Postretirement Obligations
IncreaseDecreaseInPensionAndPostretirementObligations
-219000
us-gaap Increase Decrease In Pension And Postretirement Obligations
IncreaseDecreaseInPensionAndPostretirementObligations
-607000
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-13585000
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-56958000
rail Change In Unpaid Construction In Process Non Cash Charges
ChangeInUnpaidConstructionInProcessNonCashCharges
68000
us-gaap Notes Issued1
NotesIssued1
1093000
us-gaap Proceeds From Sale Of Restricted Investments
ProceedsFromSaleOfRestrictedInvestments
182000
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
3380000
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
1983000
rail Proceeds From Sale Of Property Plant And Equipment Assets Held For Sale And Railcars Available For Lease
ProceedsFromSaleOfPropertyPlantAndEquipmentAssetsHeldForSaleAndRailcarsAvailableForLease
433000
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-3380000
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-1368000
us-gaap Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
16000000
us-gaap Notes Issued1
NotesIssued1
915000
us-gaap Debt Issuance Costs Incurred During Noncash Or Partial Noncash Transaction
DebtIssuanceCostsIncurredDuringNoncashOrPartialNoncashTransaction
8560000
us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
1517000
rail Proceeds From Long Term Lines Of Credit Less Long Term Debt
ProceedsFromLongTermLinesOfCreditLessLongTermDebt
84396000
rail Proceeds From Long Term Lines Of Credit Less Long Term Debt
ProceedsFromLongTermLinesOfCreditLessLongTermDebt
38571000
us-gaap Repayments Of Long Term Lines Of Credit
RepaymentsOfLongTermLinesOfCredit
75239000
us-gaap Repayments Of Long Term Lines Of Credit
RepaymentsOfLongTermLinesOfCredit
21225000
us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
57000
us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
7000
rail Issuance Of Equity Fee
IssuanceOfEquityFee
3000000
rail Issuance Of Equity Fee
IssuanceOfEquityFee
1000000
rail Payments For Cash Settled Stock Appreciation Rights Exercised
PaymentsForCashSettledStockAppreciationRightsExercised
4000
CY2021Q4 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
4807000
CY2021Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
57499000
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
9096000
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
31765000
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-7869000
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-26561000
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
26240000
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
54047000
CY2022Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
18371000
CY2021Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
27486000
us-gaap Interest Paid Net
InterestPaidNet
6240000
us-gaap Interest Paid Net
InterestPaidNet
4575000
us-gaap Proceeds From Income Tax Refunds
ProceedsFromIncomeTaxRefunds
5000
rail Change In Unpaid Construction In Process Non Cash Charges
ChangeInUnpaidConstructionInProcessNonCashCharges
2168000
us-gaap Nature Of Operations
NatureOfOperations
<p style="text-indent:0.0%;font-size:10.0pt;margin-top:0.0pt;line-height:1.15;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:bold;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">Note 1 – Description of the Business</span></p><p style="text-indent:0.0%;font-size:10.0pt;margin-top:0.0pt;line-height:1.15;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="white-space:pre-wrap;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;"/> </p><p style="text-indent:0.0%;font-size:10.0pt;margin-top:0.0pt;line-height:1.15;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">FreightCar America, Inc. (“FreightCar” or the “Company”) operates primarily in North America through its direct and indirect subsidiaries, and manufactures a wide range of railroad freight cars, supplies railcar parts, and leases freight cars. The Company designs and builds high-quality railcars, including coal cars, bulk commodity cars, covered hopper cars, intermodal and non-intermodal flat cars, mill gondola cars, coil steel cars and boxcars, and also specializes in the conversion of railcars for re-purposed use. The Company is headquartered in Chicago, Illinois and has facilities in the following locations: Johnstown, Pennsylvania; Shanghai, People’s Republic of China; and Castaños, Coahuila, Mexico (“Castaños”).</span></p><p style="text-indent:0.0%;font-size:10.0pt;margin-top:0.0pt;line-height:1.15;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="white-space:pre-wrap;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;"/> </p><p style="text-indent:0.0%;font-size:10.0pt;margin-top:0.0pt;line-height:1.15;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">In September 2020, the Company announced its plan to permanently close its manufacturing facility in Cherokee, Alabama (the “Shoals Facility”). The closure reduced costs and aligned the Company’s manufacturing capacity with the current railcar market. The Company ceased production at the Shoals Facility in February 2021 (See Note 14</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:bold;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">–</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">Restructuring and Impairment Charges).</span></p>
CY2022Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
84944000
CY2022Q3 us-gaap Revenue Remaining Performance Obligation
RevenueRemainingPerformanceObligation
40635000
us-gaap Number Of Operating Segments
NumberOfOperatingSegments
2
us-gaap Number Of Reportable Segments
NumberOfReportableSegments
1
CY2022Q3 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.01
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
233320000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
125333000
CY2022Q3 us-gaap Operating Lease Lease Income
OperatingLeaseLeaseIncome
799000
CY2021Q3 us-gaap Operating Lease Lease Income
OperatingLeaseLeaseIncome
808000
us-gaap Operating Lease Lease Income
OperatingLeaseLeaseIncome
2445000
us-gaap Operating Lease Lease Income
OperatingLeaseLeaseIncome
2698000
CY2022Q3 us-gaap Revenues
Revenues
85743000
CY2021Q3 us-gaap Revenues
Revenues
58307000
us-gaap Revenues
Revenues
235765000
us-gaap Revenues
Revenues
128031000
CY2022Q3 us-gaap Contract With Customer Asset Net
ContractWithCustomerAssetNet
0
CY2021Q4 us-gaap Contract With Customer Asset Net
ContractWithCustomerAssetNet
0
CY2022Q3 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
4895000
CY2021Q3 us-gaap Restructuring Settlement And Impairment Provisions
RestructuringSettlementAndImpairmentProvisions
0
us-gaap Restructuring Settlement And Impairment Provisions
RestructuringSettlementAndImpairmentProvisions
6530000
CY2022Q3 us-gaap Common Stock No Par Value
CommonStockNoParValue
0.01
CY2021Q4 us-gaap Common Stock No Par Value
CommonStockNoParValue
0.01
CY2022Q3 us-gaap Warrants And Rights Outstanding
WarrantsAndRightsOutstanding
35772000
CY2021Q4 rail Rent Under Forbearance Agreement
RentUnderForbearanceAgreement
715000
CY2022Q3 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
3927000
CY2021Q4 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
4957000
CY2022Q3 us-gaap Inventory Raw Materials
InventoryRawMaterials
59844000
CY2021Q4 us-gaap Inventory Raw Materials
InventoryRawMaterials
34885000
CY2022Q3 us-gaap Inventory Work In Process
InventoryWorkInProcess
18094000
CY2021Q4 us-gaap Inventory Work In Process
InventoryWorkInProcess
11306000
CY2021Q4 us-gaap Inventory Finished Goods
InventoryFinishedGoods
4696000
CY2022Q3 us-gaap Other Inventories Spare Parts
OtherInventoriesSpareParts
4029000
CY2021Q4 us-gaap Other Inventories Spare Parts
OtherInventoriesSpareParts
5125000
CY2022Q3 us-gaap Inventory Net
InventoryNet
84218000
CY2021Q4 us-gaap Inventory Net
InventoryNet
56012000
CY2022Q3 us-gaap Inventory Valuation Reserves
InventoryValuationReserves
1674000
CY2021Q4 us-gaap Inventory Valuation Reserves
InventoryValuationReserves
1621000
CY2022Q3 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
99470000
CY2021Q4 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
89221000
CY2022Q3 us-gaap Debt Instrument Unamortized Discount
DebtInstrumentUnamortizedDiscount
5716000
CY2021Q4 us-gaap Debt Instrument Unamortized Discount
DebtInstrumentUnamortizedDiscount
7077000
CY2022Q3 us-gaap Deferred Finance Costs Net
DeferredFinanceCostsNet
2157000
CY2021Q4 us-gaap Deferred Finance Costs Net
DeferredFinanceCostsNet
2660000
CY2022Q3 us-gaap Long Term Debt
LongTermDebt
91597000
CY2021Q4 us-gaap Long Term Debt
LongTermDebt
79484000
CY2022Q3 us-gaap Long Term Debt Current
LongTermDebtCurrent
0
CY2021Q4 us-gaap Long Term Debt Current
LongTermDebtCurrent
0
CY2022Q3 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
91597000
CY2021Q4 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
79484000
CY2021Q4 us-gaap Warrants And Rights Outstanding
WarrantsAndRightsOutstanding
32514000
us-gaap Fair Value Adjustment Of Warrants
FairValueAdjustmentOfWarrants
3258000
rail Restructuring Reserve Non Cash Charges
RestructuringReserveNonCashCharges
93000
CY2021Q4 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.01
CY2020Q4 rail Class Of Warrant Or Right Percentage Of Oustanding Common Shares
ClassOfWarrantOrRightPercentageOfOustandingCommonShares
0.23
CY2020Q4 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
P10Y
CY2022Q3 us-gaap Class Of Warrant Or Right Number Of Securities Called By Warrants Or Rights
ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights
6702195
CY2021Q4 us-gaap Class Of Warrant Or Right Number Of Securities Called By Warrants Or Rights
ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights
6098217
CY2022Q3 us-gaap Class Of Warrant Or Right Exercise Price Of Warrants Or Rights1
ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1
0.01
CY2021Q4 us-gaap Class Of Warrant Or Right Exercise Price Of Warrants Or Rights1
ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1
0.01
CY2022Q3 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Plan Amendments Tax Effect
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansPlanAmendmentsTaxEffect
7782000
CY2022Q3 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Plan Amendments Tax Effect
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansPlanAmendmentsTaxEffect
7782000
us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Plan Amendments Tax Effect
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansPlanAmendmentsTaxEffect
7949000
us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Plan Amendments Tax Effect
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansPlanAmendmentsTaxEffect
7949000
CY2022Q3 us-gaap Share Based Compensation
ShareBasedCompensation
817000
CY2021Q3 us-gaap Share Based Compensation
ShareBasedCompensation
-133000
us-gaap Share Based Compensation
ShareBasedCompensation
2307000
us-gaap Share Based Compensation
ShareBasedCompensation
2829000
us-gaap Loss Contingency Disclosures
LossContingencyDisclosures
<p style="text-indent:0.0%;font-size:10.0pt;margin-top:0.0pt;line-height:1.15;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:bold;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">Note 12 –</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:bold;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;"> Contingencies and Legal Settlements</span><span style="color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:bold;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;"> </span></p><p style="text-indent:0.0%;font-size:10.0pt;margin-top:0.0pt;line-height:1.15;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="white-space:pre-wrap;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;"/> </p><p style="text-indent:0.0%;font-size:10.0pt;margin-top:0.0pt;line-height:1.15;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">The Company is involved in various warranty and repair claims and, in certain cases, related pending and threatened legal proceedings with its customers in the normal course of business. In the opinion of management, the Company’s potential losses in excess of the accrued warranty and legal provisions, if any, are not expected to be material to the Company’s consolidated financial condition, results of operations or cash flows.</span></p><p style="text-indent:0.0%;font-size:10.0pt;margin-top:0.0pt;line-height:1.15;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="white-space:pre-wrap;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;"/> </p><p style="text-indent:0.0%;font-size:10.0pt;margin-top:0.0pt;line-height:1.15;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">In addition to the foregoing, the Company is involved in certain other pending and threatened legal proceedings, including commercial disputes and workers’ compensation and employee matters arising out of the conduct of its business. The Company has no reserve with respect to these matters as they are neither probable nor estimable.</span></p>
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
20225671
CY2022Q3 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
1578118
us-gaap Payments For Restructuring
PaymentsForRestructuring
7985000
CY2021Q3 us-gaap Restructuring Reserve
RestructuringReserve
219000
CY2022Q3 us-gaap Weighted Average Number Of Shares Issued Basic
WeightedAverageNumberOfSharesIssuedBasic
16158516
CY2021Q3 us-gaap Weighted Average Number Of Shares Issued Basic
WeightedAverageNumberOfSharesIssuedBasic
15139572
us-gaap Weighted Average Number Of Shares Issued Basic
WeightedAverageNumberOfSharesIssuedBasic
15920458
us-gaap Weighted Average Number Of Shares Issued Basic
WeightedAverageNumberOfSharesIssuedBasic
14903468
CY2022Q3 us-gaap Weighted Average Number Of Shares Contingently Issuable
WeightedAverageNumberOfSharesContingentlyIssuable
9559898
CY2021Q3 us-gaap Weighted Average Number Of Shares Contingently Issuable
WeightedAverageNumberOfSharesContingentlyIssuable
5345866
us-gaap Weighted Average Number Of Shares Contingently Issuable
WeightedAverageNumberOfSharesContingentlyIssuable
8550201
us-gaap Weighted Average Number Of Shares Contingently Issuable
WeightedAverageNumberOfSharesContingentlyIssuable
5322203
CY2022Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
25718414
CY2021Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
20485438
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
24470659
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
20225671
CY2022Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
25718414
CY2021Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
22111824
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
24470659
CY2021Q3 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
1237172
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
1687216
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
1354525
CY2022Q3 rail Impairment And Gain Loss On Sale Of Property Plant Equipment
ImpairmentAndGainLossOnSaleOfPropertyPlantEquipment
0
CY2021Q3 rail Impairment And Gain Loss On Sale Of Property Plant Equipment
ImpairmentAndGainLossOnSaleOfPropertyPlantEquipment
0
rail Impairment And Gain Loss On Sale Of Property Plant Equipment
ImpairmentAndGainLossOnSaleOfPropertyPlantEquipment
0
rail Impairment And Gain Loss On Sale Of Property Plant Equipment
ImpairmentAndGainLossOnSaleOfPropertyPlantEquipment
1591000
CY2022Q3 us-gaap Severance Costs1
SeveranceCosts1
0
CY2021Q3 us-gaap Severance Costs1
SeveranceCosts1
0
us-gaap Severance Costs1
SeveranceCosts1
0
us-gaap Severance Costs1
SeveranceCosts1
-5000
CY2022Q3 us-gaap Other Restructuring Costs
OtherRestructuringCosts
0
CY2021Q3 us-gaap Other Restructuring Costs
OtherRestructuringCosts
0
us-gaap Other Restructuring Costs
OtherRestructuringCosts
0
us-gaap Other Restructuring Costs
OtherRestructuringCosts
4944000
CY2022Q3 us-gaap Restructuring Settlement And Impairment Provisions
RestructuringSettlementAndImpairmentProvisions
0
CY2021Q3 us-gaap Restructuring Settlement And Impairment Provisions
RestructuringSettlementAndImpairmentProvisions
0
us-gaap Restructuring Settlement And Impairment Provisions
RestructuringSettlementAndImpairmentProvisions
0
us-gaap Restructuring Settlement And Impairment Provisions
RestructuringSettlementAndImpairmentProvisions
6530000
CY2021Q4 us-gaap Restructuring Reserve
RestructuringReserve
163000
us-gaap Restructuring Charges
RestructuringCharges
0
rail Restructuring Reserve Non Cash Charges
RestructuringReserveNonCashCharges
0
us-gaap Payments For Restructuring
PaymentsForRestructuring
163000
CY2022Q3 us-gaap Restructuring Reserve
RestructuringReserve
0
CY2020Q4 us-gaap Restructuring Reserve
RestructuringReserve
1847000
us-gaap Restructuring Charges
RestructuringCharges
6437000
CY2022Q3 us-gaap Due From Related Parties Current
DueFromRelatedPartiesCurrent
4017000
CY2022Q3 us-gaap Accounts Payable Related Parties Current
AccountsPayableRelatedPartiesCurrent
1944000
CY2021Q4 us-gaap Due From Related Parties Current
DueFromRelatedPartiesCurrent
8680000
CY2021Q4 us-gaap Accounts Payable Related Parties Current
AccountsPayableRelatedPartiesCurrent
8870000

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rail-20220930_cal.xml Edgar Link unprocessable
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0000950170-22-022653.txt Edgar Link pending
0000950170-22-022653-xbrl.zip Edgar Link pending
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rail-20220930.htm Edgar Link pending
rail-20220930.xsd Edgar Link pending
rail-20220930_def.xml Edgar Link unprocessable
rail-20220930_lab.xml Edgar Link unprocessable
rail-20220930_htm.xml Edgar Link completed
rail-ex31_1.htm Edgar Link pending
rail-ex31_2.htm Edgar Link pending
rail-ex32.htm Edgar Link pending
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rail-20220930_pre.xml Edgar Link unprocessable