2020 Form 10-K Financial Statement

#000156276221000129 Filed on March 24, 2021

View on sec.gov

Income Statement

Concept 2020 2019 Q4 2019
Revenue $108.4M $44.90M $230.0M
YoY Change -52.84% -48.86% -27.35%
Cost Of Revenue $121.9M $53.00M $244.3M
YoY Change -50.07% -42.33% -23.7%
Gross Profit -$13.50M -$8.100M -$14.30M
YoY Change -5.58% 102.5% 294.27%
Gross Profit Margin -12.45% -18.04% -6.22%
Selling, General & Admin $29.82M $7.500M $38.30M
YoY Change -22.16% 4.17% 31.84%
% of Gross Profit
Research & Development $955.0K
YoY Change 2173.81%
% of Gross Profit
Depreciation & Amortization $9.202M $2.900M $12.44M
YoY Change -26.02% -21.62% 3.5%
% of Gross Profit
Operating Expenses $29.82M $7.500M $39.26M
YoY Change -24.05% 4.17% 34.94%
Operating Profit -$80.59M -$15.60M -$75.60M
YoY Change 6.6% 39.29% 135.48%
Interest Expense -$5.900M -$200.0K $609.0K
YoY Change -1068.8% 100.0% 292.9%
% of Operating Profit
Other Income/Expense, Net $576.0K $100.0K $858.0K
YoY Change -32.87% -75.0% -53.57%
Pretax Income -$85.90M -$9.100M -$75.35M
YoY Change 14.0% -16.51% 147.77%
Income Tax $199.0K $500.0K -$115.0K
% Of Pretax Income
Net Earnings -$84.44M -$9.500M -$75.18M
YoY Change 12.32% -63.04% 85.27%
Net Earnings / Revenue -77.87% -21.16% -32.69%
Basic Earnings Per Share -$6.29 -$5.95
Diluted Earnings Per Share -$6.29 -$766.1K -$5.95
COMMON SHARES
Basic Shares Outstanding 13.43M 12.69M 12.35M
Diluted Shares Outstanding 13.43M 12.35M

Balance Sheet

Concept 2020 2019 Q4 2019
SHORT-TERM ASSETS
Cash & Short-Term Investments $54.00M $66.30M $66.30M
YoY Change -18.55% 5.07% 5.07%
Cash & Equivalents $54.00M $66.26M $66.30M
Short-Term Investments $0.00 $0.00
Other Short-Term Assets $14.20M $7.035M $11.30M
YoY Change 25.66% 40.36% 13.0%
Inventory $38.80M $25.09M $25.10M
Prepaid Expenses $7.035M
Receivables $13.90M $6.991M $7.000M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $121.0M $109.7M $109.7M
YoY Change 10.3% -29.62% -29.59%
LONG-TERM ASSETS
Property, Plant & Equipment $58.70M $38.56M $134.0M
YoY Change -56.19% -14.9% 21.71%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $3.000M $1.552M $1.600M
YoY Change 87.5% -32.84% -30.43%
Total Long-Term Assets $61.70M $135.5M $135.5M
YoY Change -54.46% 1.21% 1.19%
TOTAL ASSETS
Total Short-Term Assets $121.0M $109.7M $109.7M
Total Long-Term Assets $61.70M $135.5M $135.5M
Total Assets $182.7M $245.2M $245.2M
YoY Change -25.49% -15.37% -15.36%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $18.70M $11.71M $11.70M
YoY Change 59.83% -66.29% -66.28%
Accrued Expenses $22.00M $27.90M $27.90M
YoY Change -21.15% 95.1% 95.1%
Deferred Revenue $5.123M
YoY Change 70.77%
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $17.60M
YoY Change
Total Short-Term Liabilities $71.10M $49.43M $49.40M
YoY Change 43.93% -20.34% -20.45%
LONG-TERM LIABILITIES
Long-Term Debt $37.70M $10.20M $10.20M
YoY Change 269.61%
Other Long-Term Liabilities $43.40M $3.420M $68.40M
YoY Change -36.55% 326.97% 100.59%
Total Long-Term Liabilities $81.10M $13.62M $78.60M
YoY Change 3.18% 1600.37% 130.5%
TOTAL LIABILITIES
Total Short-Term Liabilities $71.10M $49.43M $49.40M
Total Long-Term Liabilities $81.10M $13.62M $78.60M
Total Liabilities $152.2M $128.0M $128.0M
YoY Change 18.91% 33.21% 33.19%
SHAREHOLDERS EQUITY
Retained Earnings $45.82M
YoY Change -62.07%
Common Stock $127.0K
YoY Change 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost) $989.0K
YoY Change -89.83%
Treasury Stock Shares $44.86K
Shareholders Equity $30.50M $117.2M $117.2M
YoY Change
Total Liabilities & Shareholders Equity $182.7M $245.2M $245.2M
YoY Change -25.49% -15.37% -15.36%

Cashflow Statement

Concept 2020 2019 Q4 2019
OPERATING ACTIVITIES
Net Income -$84.44M -$9.500M -$75.18M
YoY Change 12.32% -63.04% 85.27%
Depreciation, Depletion And Amortization $9.202M $2.900M $12.44M
YoY Change -26.02% -21.62% 3.5%
Cash From Operating Activities -$58.91M $6.600M -$18.98M
YoY Change 210.37% -81.56% -40.02%
INVESTING ACTIVITIES
Capital Expenditures $9.849M -$2.300M $5.573M
YoY Change 76.73% 109.09% 155.06%
Acquisitions
YoY Change
Other Investing Activities $3.800M $2.500M $36.50M
YoY Change -89.59% -111.11% -514.77%
Cash From Investing Activities -$6.092M $300.0K $30.95M
YoY Change -119.68% -101.28% -382.79%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 52.79M 0.000 9.212M
YoY Change 473.02% -7296.88%
NET CHANGE
Cash From Operating Activities -58.91M 6.600M -18.98M
Cash From Investing Activities -6.092M 300.0K 30.95M
Cash From Financing Activities 52.79M 0.000 9.212M
Net Change In Cash -12.21M 6.900M 21.19M
YoY Change -157.63% -43.9% -149.6%
FREE CASH FLOW
Cash From Operating Activities -$58.91M $6.600M -$18.98M
Capital Expenditures $9.849M -$2.300M $5.573M
Free Cash Flow -$68.75M $8.900M -$24.55M
YoY Change 180.03% -75.88% -27.42%

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CY2019 us-gaap Income Loss From Continuing Operations Including Portion Attributable To Noncontrolling Interest
IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest
-75238000
CY2020 us-gaap Restructuring Settlement And Impairment Provisions
RestructuringSettlementAndImpairmentProvisions
18325000
CY2019 us-gaap Restructuring Settlement And Impairment Provisions
RestructuringSettlementAndImpairmentProvisions
22371000
CY2020 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
9202000
CY2019 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
12438000
CY2020 rail Operating Lease Right Of Use Asset Amortization
OperatingLeaseRightOfUseAssetAmortization
7063000
CY2019 rail Operating Lease Right Of Use Asset Amortization
OperatingLeaseRightOfUseAssetAmortization
10485000
CY2020 rail Recognition Of Deferred Income From State And Local Incentives
RecognitionOfDeferredIncomeFromStateAndLocalIncentives
2219000
CY2020 us-gaap Fair Value Adjustment Of Warrants
FairValueAdjustmentOfWarrants
3657000
CY2019 rail Gain On Sale Of Railcars Available For Lease
GainOnSaleOfRailcarsAvailableForLease
-7197000
CY2020 rail Impairment Of Leased Railcars
ImpairmentOfLeasedRailcars
18951000
CY2019 us-gaap Pension And Other Postretirement Benefits Expense Reversal Of Expense Noncash
PensionAndOtherPostretirementBenefitsExpenseReversalOfExpenseNoncash
-6637000
CY2020 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
136000
CY2019 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
176000
CY2020 us-gaap Share Based Compensation
ShareBasedCompensation
1034000
CY2019 us-gaap Share Based Compensation
ShareBasedCompensation
1225000
CY2020 us-gaap Amortization Of Financing Costs And Discounts
AmortizationOfFinancingCostsAndDiscounts
1023000
CY2020 us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
17942000
CY2019 us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
-40649000
CY2020 us-gaap Increase Decrease In Other Current Assets
IncreaseDecreaseInOtherCurrentAssets
-1763000
CY2019 us-gaap Increase Decrease In Other Current Assets
IncreaseDecreaseInOtherCurrentAssets
2127000
CY2020 us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
3975000
CY2019 us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
-23961000
CY2020 rail Increase Decrease In Accrued Payroll And Employee Benefits
IncreaseDecreaseInAccruedPayrollAndEmployeeBenefits
-2027000
CY2019 rail Increase Decrease In Accrued Payroll And Employee Benefits
IncreaseDecreaseInAccruedPayrollAndEmployeeBenefits
-1368000
CY2020 us-gaap Increase Decrease In Income Taxes Receivable
IncreaseDecreaseInIncomeTaxesReceivable
-991000
CY2019 us-gaap Increase Decrease In Income Taxes Receivable
IncreaseDecreaseInIncomeTaxesReceivable
-155000
CY2020 rail Increase Decrease In Accrued Warranty
IncreaseDecreaseInAccruedWarranty
-3172000
CY2019 rail Increase Decrease In Accrued Warranty
IncreaseDecreaseInAccruedWarranty
-921000
CY2020 rail Operating Lease Increase Decrease In Lease Liability
OperatingLeaseIncreaseDecreaseInLeaseLiability
-11553000
CY2019 rail Operating Lease Increase Decrease In Lease Liability
OperatingLeaseIncreaseDecreaseInLeaseLiability
-17602000
CY2020 us-gaap Increase Decrease In Other Operating Liabilities
IncreaseDecreaseInOtherOperatingLiabilities
1040000
CY2019 us-gaap Increase Decrease In Other Operating Liabilities
IncreaseDecreaseInOtherOperatingLiabilities
6201000
CY2020 us-gaap Increase Decrease In Pension And Postretirement Obligations
IncreaseDecreaseInPensionAndPostretirementObligations
-354000
CY2019 us-gaap Increase Decrease In Pension And Postretirement Obligations
IncreaseDecreaseInPensionAndPostretirementObligations
-55000
CY2020 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-58905000
CY2019 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-18979000
CY2020 us-gaap Payments To Acquire Restricted Certificates Of Deposit
PaymentsToAcquireRestrictedCertificatesOfDeposit
4219000
CY2019 us-gaap Payments To Acquire Restricted Certificates Of Deposit
PaymentsToAcquireRestrictedCertificatesOfDeposit
4981000
CY2020 us-gaap Proceeds From Sale Of Restricted Investments
ProceedsFromSaleOfRestrictedInvestments
7806000
CY2019 us-gaap Proceeds From Sale Of Restricted Investments
ProceedsFromSaleOfRestrictedInvestments
6164000
CY2019 us-gaap Payments To Acquire Held To Maturity Securities
PaymentsToAcquireHeldToMaturitySecurities
1986000
CY2019 us-gaap Proceeds From Sale And Maturity Of Held To Maturity Securities
ProceedsFromSaleAndMaturityOfHeldToMaturitySecurities
20025000
CY2020 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
9849000
CY2019 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
5573000
CY2020 rail Proceeds From Sale Of Property Plant And Equipment Assets Held For Sale And Railcars Available For Lease
ProceedsFromSaleOfPropertyPlantAndEquipmentAssetsHeldForSaleAndRailcarsAvailableForLease
170000
CY2019 rail Proceeds From Sale Of Property Plant And Equipment Assets Held For Sale And Railcars Available For Lease
ProceedsFromSaleOfPropertyPlantAndEquipmentAssetsHeldForSaleAndRailcarsAvailableForLease
17305000
CY2020 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-6092000
CY2019 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
30954000
CY2020 us-gaap Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
50000000
CY2019 us-gaap Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
10200000
CY2020 rail Proceeds From Long Term Lines Of Credit Less Long Term Debt
ProceedsFromLongTermLinesOfCreditLessLongTermDebt
6874000
CY2020 us-gaap Repayments Of Long Term Lines Of Credit
RepaymentsOfLongTermLinesOfCredit
95000
CY2020 us-gaap Payments Of Merger Related Costs Financing Activities
PaymentsOfMergerRelatedCostsFinancingActivities
172000
CY2020 us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
9000
CY2019 us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
59000
CY2020 us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
3811000
CY2019 us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
929000
CY2020 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
52787000
CY2019 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
9212000
CY2020 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-12210000
CY2019 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
21187000
CY2019Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
66257000
CY2018Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
45070000
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
54047000
CY2019Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
66257000
CY2020 us-gaap Interest Paid Net
InterestPaidNet
421000
CY2019 us-gaap Interest Paid Net
InterestPaidNet
196000
CY2020 us-gaap Proceeds From Income Tax Refunds
ProceedsFromIncomeTaxRefunds
938000
CY2019 us-gaap Proceeds From Income Tax Refunds
ProceedsFromIncomeTaxRefunds
978000
CY2020 us-gaap Noncash Or Part Noncash Acquisition Noncash Financial Or Equity Instrument Consideration Shares Issued1
NoncashOrPartNoncashAcquisitionNoncashFinancialOrEquityInstrumentConsiderationSharesIssued1
3237000
CY2020Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
30184000
CY2019Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
68726000
CY2020 us-gaap Nature Of Operations
NatureOfOperations
<span style="white-space:pre-wrap; font-size: 10pt;font-style: normal;font-weight: normal;margin: 0;padding: 0;"> </span><p dir="ltr" style="font-family: 'Times New Roman', 'serif';font-size: 10pt;line-height: 108%;margin-bottom: 0;margin-left: 0;margin-right: 0;margin-top: 0;"><span style="white-space:pre-wrap; font-family: 'Times New Roman', 'serif';font-size: 10pt;font-style: normal;font-weight: bold;margin: 0;padding: 0;">Note 1 – Description of the Business</span></p><p dir="ltr" style="font-family: 'Times New Roman', 'serif';font-size: 10pt;line-height: 108%;margin-bottom: 0;margin-left: 0;margin-right: 0;margin-top: 0;"><span style="white-space:pre-wrap; font-size: 10pt;font-style: normal;font-weight: normal;margin: 0;padding: 0;"> </span></p><p dir="ltr" style="font-family: 'Times New Roman', 'serif';font-size: 10pt;line-height: 108%;margin-bottom: 0;margin-left: 0;margin-right: 0;margin-top: 0;"><span style="white-space:pre-wrap; font-family: 'Times New Roman', 'serif';font-size: 10pt;font-style: normal;font-weight: normal;margin: 0;padding: 0;">FreightCar America, Inc. (“FreightCar”) operates primarily in North America through its direct and indirect subsidiaries, </span><span style="white-space:pre-wrap; color: #000000;font-family: 'Times New Roman', 'serif';font-size: 10pt;font-style: normal;font-weight: normal;margin: 0;padding: 0;">FreightCar North America, LLC (f/k/a FCAI Holdings, LLC) (“FreightCar North America”), </span><span style="white-space:pre-wrap; font-family: 'Times New Roman', 'serif';font-size: 10pt;font-style: normal;font-weight: normal;margin: 0;padding: 0;">JAC Operations, Inc., Johnstown America, LLC, Freight Car Services, Inc., JAIX Leasing Company (“JAIX”), FreightCar America Leasing, LLC, FreightCar America Leasing 1, LLC, FreightCar Roanoke, LLC, FreightCar Mauritius Ltd. (“Mauritius”), FreightCar Rail Services, LLC (“FCRS”), FreightCar Short Line, Inc. (“FCSL”), FreightCar Alabama, LLC FreightCar (Shanghai) Trading Co., Ltd, FCA-FASEMEX, LLC, FCA-FASEMEX, S. de R.L. de C.V. and FCA-FASEMEX Enterprise, S. de R.L. de C.V. (herein collectively referred to as the “Company”), 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: Cherokee, Alabama; Johnstown, Pennsylvania; Shanghai, People’s Republic of China, and Castaños</span><span style="white-space:pre-wrap; color: #000000;font-family: 'Times New Roman', 'serif';font-size: 10pt;font-style: normal;font-weight: normal;margin: 0;padding: 0;">, Mexico</span><span style="white-space:pre-wrap; font-family: 'Times New Roman', 'serif';font-size: 10pt;font-style: normal;font-weight: normal;margin: 0;padding: 0;">.</span></p><p dir="ltr" style="font-family: 'Times New Roman', 'serif';font-size: 10pt;line-height: 108%;margin-bottom: 0;margin-left: 0;margin-right: 0;margin-top: 0;"><span style="white-space:pre-wrap; font-size: 10pt;font-style: normal;font-weight: normal;margin: 0;padding: 0;"> </span></p><p dir="ltr" style="font-family: 'Times New Roman', 'serif';font-size: 10pt;line-height: 108%;margin-bottom: 0;margin-left: 0;margin-right: 0;margin-top: 0;"><span style="white-space:pre-wrap; font-family: 'Times New Roman', 'serif';font-size: 10pt;font-style: normal;font-weight: normal;margin: 0;padding: 0;">As of December 31, 2020, the Company’s direct and indirect subsidiaries are wholly owned. The Company and its direct and indirect subsidiaries are all Delaware corporations or Delaware limited liability companies except Mauritius, which is incorporated in Mauritius, FreightCar (Shanghai) Trading Co., Ltd., which is organized in the People’s Republic of China, and </span><span style="white-space:pre-wrap; font-family: 'Times New Roman', 'serif';font-size: 10pt;font-style: normal;font-weight: normal;margin: 0;padding: 0;">FCA-FASEMEX, S. de R.L., de C.V. and FCA-FASEMEX Enterprise, S. de R.L. de C.V.</span><span style="white-space:pre-wrap; font-family: 'Times New Roman', 'serif';font-size: 10pt;font-style: normal;font-weight: normal;margin: 0;padding: 0;"> which are organized in Mexico. </span></p><p dir="ltr" style="font-family: 'Times New Roman', 'serif';font-size: 10pt;line-height: 108%;margin-bottom: 0;margin-left: 0;margin-right: 0;margin-top: 0;"><span style="white-space:pre-wrap; font-size: 10pt;font-style: normal;font-weight: normal;margin: 0;padding: 0;"> </span></p><p dir="ltr" style="font-family: 'Times New Roman', 'serif';font-size: 10pt;line-height: 108%;margin-bottom: 0;margin-left: 0;margin-right: 0;margin-top: 0;"><span style="white-space:pre-wrap; color: #000000;font-family: 'Times New Roman', 'serif';font-size: 10pt;font-style: normal;font-weight: normal;margin: 0;padding: 0;">During 2019, the Company entered into a joint venture arrangement with </span><span style="white-space:pre-wrap; font-family: 'Times New Roman', 'serif';font-size: 10pt;font-style: normal;font-weight: normal;margin: 0;padding: 0;">Fabricaciones y Servicios de México, S.A. de C.V. (“Fasemex”), a Mexican company with operations in both Mexico and the United States </span><span style="white-space:pre-wrap; color: #000000;font-family: 'Times New Roman', 'serif';font-size: 10pt;font-style: normal;font-weight: normal;margin: 0;padding: 0;">to manufacture railcars in </span><span style="white-space:pre-wrap; font-family: 'Times New Roman', 'serif';font-size: 10pt;font-style: normal;font-weight: normal;margin: 0;padding: 0;">Castaños</span><span style="white-space:pre-wrap; color: #000000;font-family: 'Times New Roman', 'serif';font-size: 10pt;font-style: normal;font-weight: normal;margin: 0;padding: 0;">, Coahuila, Mexico (“</span><span style="white-space:pre-wrap; font-family: 'Times New Roman', 'serif';font-size: 10pt;font-style: normal;font-weight: normal;margin: 0;padding: 0;">Castaños”)</span><span style="white-space:pre-wrap; color: #000000;font-family: 'Times New Roman', 'serif';font-size: 10pt;font-style: normal;font-weight: normal;margin: 0;padding: 0;">, in exchange for a </span><span style="white-space:pre-wrap; color: #000000;font-family: 'Times New Roman', 'serif';font-size: 10pt;font-style: normal;font-weight: normal;margin: 0;padding: 0;">50</span><span style="white-space:pre-wrap; color: #000000;font-family: 'Times New Roman', 'serif';font-size: 10pt;font-style: normal;font-weight: normal;margin: 0;padding: 0;">% interest in the operation. </span><span style="white-space:pre-wrap; color: #000000;font-family: 'Times New Roman', 'serif';font-size: 10pt;font-style: normal;font-weight: normal;margin: 0;padding: 0;">Production of railcars at the facility began during the third quarter of 2020. On October 16, 2020, the Company acquired Fasemex’s </span><span style="white-space:pre-wrap; color: #000000;font-family: 'Times New Roman', 'serif';font-size: 10pt;font-style: normal;font-weight: normal;margin: 0;padding: 0;">50</span><span style="white-space:pre-wrap; color: #000000;font-family: 'Times New Roman', 'serif';font-size: 10pt;font-style: normal;font-weight: normal;margin: 0;padding: 0;">% ownership in the joint venture. Starting in March 2021, the Company moved all of its production to the </span><span style="white-space:pre-wrap; font-family: 'Times New Roman', 'serif';font-size: 10pt;font-style: normal;font-weight: normal;margin: 0;padding: 0;">Castaños</span><span style="white-space:pre-wrap; color: #000000;font-family: 'Times New Roman', 'serif';font-size: 10pt;font-style: normal;font-weight: normal;margin: 0;padding: 0;"> facility. </span><span style="white-space:pre-wrap; color: #000000;font-family: 'Times New Roman', 'serif';font-size: 10pt;font-style: normal;font-weight: normal;margin: 0;padding: 0;">See Note 21 </span><span style="white-space:pre-wrap; font-family: 'Times New Roman', 'serif';font-size: 10pt;font-style: normal;font-weight: bold;margin: 0;padding: 0;">– </span><span style="white-space:pre-wrap; font-family: 'Times New Roman', 'serif';font-size: 10pt;font-style: normal;font-weight: normal;margin: 0;padding: 0;">Acquisition</span><span style="white-space:pre-wrap; color: #000000;font-family: 'Times New Roman', 'serif';font-size: 10pt;font-style: normal;font-weight: normal;margin: 0;padding: 0;">.</span></p><p dir="ltr" style="font-family: 'Times New Roman', 'serif';font-size: 10pt;line-height: 108%;margin-bottom: 0;margin-left: 0;margin-right: 0;margin-top: 0;"><span style="white-space:pre-wrap; color: #000000;font-size: 10pt;font-style: normal;font-weight: normal;margin: 0;padding: 0;"> </span></p><p dir="ltr" style="font-family: 'Times New Roman', 'serif';font-size: 10pt;line-height: 108%;margin-bottom: 0;margin-left: 0;margin-right: 0;margin-top: 0;"><span style="white-space:pre-wrap; color: #000000;font-family: 'Times New Roman', 'serif';font-size: 10pt;font-style: normal;font-weight: normal;margin: 0;padding: 0;">The Company ceased operations at the Roanoke Facility and vacated the facility as of March 31, 2020.  </span><span style="white-space:pre-wrap; color: #000000;font-family: 'Times New Roman', 'serif';font-size: 10pt;font-style: normal;font-weight: normal;margin: 0;padding: 0;">On September 10, 2020, the Company announced its plan to permanently close the Shoals Facility in light of the ongoing cyclical industry downturn, which has been magnified by the global pandemic. The closure will reduce costs and align the Company’s manufacturing capacity with the current rail car market. The Company ceased production at the Shoals Facility in February 2021.</span><span style="white-space:pre-wrap; color: #000000;font-family: 'Times New Roman', 'serif';font-size: 10pt;font-style: normal;font-weight: normal;margin: 0;padding: 0;"> See Note 16</span><span style="white-space:pre-wrap; font-family: 'Times New Roman', 'serif';font-size: 10pt;font-style: normal;font-weight: bold;margin: 0;padding: 0;">–</span><span style="white-space:pre-wrap; font-family: 'Times New Roman', 'serif';font-size: 10pt;font-style: normal;font-weight: normal;margin: 0;padding: 0;">Restructuring and Impairment Charges.</span></p>
CY2020 us-gaap Use Of Estimates
UseOfEstimates
<span style="white-space:pre-wrap; font-family: 'Times New Roman', 'serif';font-size: 10pt;font-style: normal;font-weight: bold;margin: 0;padding: 0;">Use of Estimates </span><p dir="ltr" style="font-family: 'Times New Roman', 'serif';font-size: 10pt;line-height: 108%;margin-bottom: 0;margin-left: 0;margin-right: 0;margin-top: 0;"><span style="white-space:pre-wrap; font-size: 10pt;font-style: normal;font-weight: normal;margin: 0;padding: 0;"> </span></p><span style="white-space:pre-wrap; font-family: 'Times New Roman', 'serif';font-size: 10pt;font-style: normal;font-weight: normal;margin: 0;padding: 0;">The preparation of financial statements in conformity with accounting principles generally accepted in the United States (“GAAP”) requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Significant estimates include the valuation of used railcars received in sale transactions, useful lives of long-lived assets, warranty accruals, workers’ compensation accruals, pension and postretirement benefit assumptions, stock compensation, evaluation of goodwill, other intangibles and property, plant and equipment for impairment and the valuation of deferred taxes. Actual results could differ from those estimates. </span>
CY2020 us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
<span style="white-space:pre-wrap; background: #FFFFFF;color: #000000;font-family: 'Times New Roman', 'serif';font-size: 10pt;font-style: normal;font-weight: bold;margin: 0;padding: 0;">Reclassifications </span><p dir="ltr" style="font-family: 'Times New Roman', 'serif';font-size: 10pt;line-height: 108%;margin-bottom: 0;margin-left: 0;margin-right: 0;margin-top: 0;"><span style="white-space:pre-wrap; color: #000000;font-size: 10pt;font-style: normal;font-weight: normal;margin: 0;padding: 0;"> </span></p><span style="white-space:pre-wrap; background: #FFFFFF;color: #000000;font-family: 'Times New Roman', 'serif';font-size: 10pt;font-style: normal;font-weight: normal;margin: 0;padding: 0;">Certain prior year amounts have been reclassified, where necessary, to conform to the current year presentation.</span>
CY2020 rail Railcars Available For Lease Useful Life
RailcarsAvailableForLeaseUsefulLife
P40Y
CY2020 us-gaap Guarantees Indemnifications And Warranties Policies
GuaranteesIndemnificationsAndWarrantiesPolicies
<span style="white-space:pre-wrap; font-family: 'Times New Roman', 'serif';font-size: 10pt;font-style: normal;font-weight: bold;margin: 0;padding: 0;">Product Warranties</span><p dir="ltr" style="font-family: 'Times New Roman', 'serif';font-size: 10pt;line-height: 108%;margin-bottom: 0;margin-left: 0;margin-right: 0;margin-top: 0;"><span style="white-space:pre-wrap; font-size: 10pt;font-style: normal;font-weight: normal;margin: 0;padding: 0;"> </span></p><p dir="ltr" style="font-family: 'Times New Roman', 'serif';font-size: 10pt;line-height: 108%;margin-bottom: 0;margin-left: 0;margin-right: 0;margin-top: 0;"><span style="white-space:pre-wrap; font-family: 'Times New Roman', 'serif';font-size: 10pt;font-style: normal;font-weight: normal;margin: 0;padding: 0;">Warranty terms are based on the negotiated railcar sales contracts. The Company generally warrants that new railcars will be free from defects in material and workmanship under normal use and service identified for a period of up to </span><span style="white-space:pre-wrap; font-family: 'Times New Roman', 'serif';font-size: 10pt;font-style: normal;font-weight: normal;margin: 0;padding: 0;">five years</span><span style="white-space:pre-wrap; font-family: 'Times New Roman', 'serif';font-size: 10pt;font-style: normal;font-weight: normal;margin: 0;padding: 0;"> from the time of sale. The Company also provides limited warranties with respect to certain rebuilt railcars. </span><span style="white-space:pre-wrap; background: #FFFFFF;color: #000000;font-family: 'Times New Roman', 'serif';font-size: 10pt;font-style: normal;font-weight: normal;margin: 0;padding: 0;">The warranty costs are estimated using a two-step approach. First, an engineering estimate is made for the cost of all claims that have been asserted by customers. Second, based on historical claims experience, a cost is accrued for all products still within a warranty period for which no claims have been filed. We provide for the estimated cost of product warranties at the time revenue is recognized related to products covered by warranties and assess the adequacy of the resulting reserves on a quarterly basis. </span></p>
CY2020 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
104052000
CY2019 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
223506000
CY2020 us-gaap Operating Lease Lease Income
OperatingLeaseLeaseIncome
4395000
CY2019 us-gaap Operating Lease Lease Income
OperatingLeaseLeaseIncome
6452000
CY2020 us-gaap Revenues
Revenues
108447000
CY2019 us-gaap Revenues
Revenues
229958000
CY2020Q4 us-gaap Contract With Customer Asset Net
ContractWithCustomerAssetNet
445000
CY2020Q4 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
6930000
CY2019Q4 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
5607000
CY2020Q4 us-gaap Revenue Remaining Performance Obligation
RevenueRemainingPerformanceObligation
4284000
CY2019Q4 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
53766000
CY2020 us-gaap Operating Lease Cost
OperatingLeaseCost
9719000
CY2019 us-gaap Operating Lease Cost
OperatingLeaseCost
13662000
CY2020 us-gaap Short Term Lease Cost
ShortTermLeaseCost
843000
CY2019 us-gaap Short Term Lease Cost
ShortTermLeaseCost
1032000
CY2020 us-gaap Lease Cost
LeaseCost
10562000
CY2019 us-gaap Lease Cost
LeaseCost
14694000
CY2020Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
18152000
CY2019Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
56507000
CY2020Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
11635000
CY2019Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
14960000
CY2020Q4 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
18549000
CY2020 us-gaap Operating Lease Payments
OperatingLeasePayments
14209000
CY2019 us-gaap Operating Lease Payments
OperatingLeasePayments
20778000
CY2020 us-gaap Operating Lease Payments
OperatingLeasePayments
14209000
CY2019 us-gaap Operating Lease Payments
OperatingLeasePayments
20778000
CY2020 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
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15939000
CY2019 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
32079000
CY2020 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
15939000
CY2019 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
32079000
CY2020Q4 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
13821000
CY2020Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
4050000
CY2020Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
2920000
CY2020Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
2177000
CY2020Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Five
LesseeOperatingLeaseLiabilityPaymentsDueYearFive
2221000
CY2020Q4 us-gaap Lessee Operating Lease Liability Payments Due After Year Five
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive
35709000
CY2020Q4 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
60898000
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30714000
CY2020Q4 us-gaap Operating Lease Liability
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30184000
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OperatingLeaseWeightedAverageRemainingLeaseTerm1
P15Y
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LesseeOperatingLeaseDiscountRate
0.113
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LeseeOperatingLeaseNumberOfRenewalOptions
2
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32079000
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RestrictedCashAndCashEquivalents
475000
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ImpairmentAndGainLossOnSaleOfPropertyPlantEquipment
1381000
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2445000
CY2020Q4 rail Lessee Operating Lease Lease Not Yet Commenced Liability Payments Due
LesseeOperatingLeaseLeaseNotYetCommencedLiabilityPaymentsDue
3000000
CY2020Q4 us-gaap Lessee Operating Lease Lease Not Yet Commenced Term Of Contract1
LesseeOperatingLeaseLeaseNotYetCommencedTermOfContract1
P11Y6M
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8978000
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OperatingLeaseImpairmentLoss
17540000
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1960000
CY2019Q4 rail Purchase Price In Escrow
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980000
CY2020Q4 rail Purchase Price In Escrow
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980000
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10455000
CY2020Q4 us-gaap Inventory Work In Process
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34355000
CY2019Q4 us-gaap Inventory Work In Process
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19742000
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4476000
CY2019Q4 us-gaap Other Inventories Spare Parts
OtherInventoriesSpareParts
5350000
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38831000
CY2019Q4 us-gaap Inventory Net
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25092000
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9836000
CY2019Q4 us-gaap Inventory Valuation Reserves
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5633000
CY2020Q4 us-gaap Property Subject To Or Available For Operating Lease Net
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20933000
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3121000
CY2019Q4 us-gaap Property Subject To Or Available For Operating Lease Net
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38900000
CY2019Q4 us-gaap Property Subject To Or Available For Operating Lease Gross
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43045000
CY2019Q4 us-gaap Property Subject To Or Available For Operating Lease Accumulated Depreciation
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4145000
CY2020 us-gaap Operating Leases Income Statement Depreciation Expense On Property Subject To Or Held For Lease
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1015000
CY2019 us-gaap Operating Leases Income Statement Depreciation Expense On Property Subject To Or Held For Lease
OperatingLeasesIncomeStatementDepreciationExpenseOnPropertySubjectToOrHeldForLease
1365000
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3325000
CY2020Q4 us-gaap Lessor Operating Lease Payments To Be Received Two Years
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2344000
CY2020Q4 us-gaap Lessor Operating Lease Payments To Be Received Three Years
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1787000
CY2020Q4 us-gaap Lessor Operating Lease Payments To Be Received Four Years
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1107000
CY2020Q4 us-gaap Lessor Operating Lease Payments To Be Received Five Years
LessorOperatingLeasePaymentsToBeReceivedFiveYears
358000
CY2020Q4 us-gaap Lessor Operating Lease Payments To Be Received
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8921000
CY2020 us-gaap Asset Impairment Charges
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18951000
CY2020 us-gaap Operating Lease Impairment Loss
OperatingLeaseImpairmentLoss
17540000
CY2020 us-gaap Gain Loss On Termination Of Lease
GainLossOnTerminationOfLease
15200000
CY2019 us-gaap Gain Loss On Termination Of Lease
GainLossOnTerminationOfLease
2445000
CY2020 rail Impairment And Gain Loss On Sale Of Property Plant Equipment
ImpairmentAndGainLossOnSaleOfPropertyPlantEquipment
9527000
CY2020 us-gaap Property Plant And Equipment Transfers And Changes
PropertyPlantAndEquipmentTransfersAndChanges
10383000
CY2020 us-gaap Severance Costs1
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3285000
CY2019 us-gaap Severance Costs1
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1332000
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21521000
CY2020 us-gaap Other Restructuring Costs
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3173000
CY2019 us-gaap Other Restructuring Costs
OtherRestructuringCosts
582000
CY2020 us-gaap Restructuring Settlement And Impairment Provisions
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18325000
CY2019 us-gaap Restructuring Settlement And Impairment Provisions
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22371000
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45391000
CY2019Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
102399000
CY2020Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
25749000
CY2019Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
63835000
CY2020Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
19642000
CY2019Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
38564000
CY2020 us-gaap Depreciation
Depreciation
8187000
CY2019 us-gaap Depreciation
Depreciation
11073000
CY2019Q4 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
8388000
CY2018Q4 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
9309000
CY2020 us-gaap Product Warranty Accrual Warranties Issued
ProductWarrantyAccrualWarrantiesIssued
451000
CY2019 us-gaap Product Warranty Accrual Warranties Issued
ProductWarrantyAccrualWarrantiesIssued
1416000
CY2020 us-gaap Product Warranty Accrual Payments
ProductWarrantyAccrualPayments
1756000
CY2019 us-gaap Product Warranty Accrual Payments
ProductWarrantyAccrualPayments
363000
CY2020 us-gaap Product Warranty Accrual Preexisting Increase Decrease
ProductWarrantyAccrualPreexistingIncreaseDecrease
-1867000
CY2019 us-gaap Product Warranty Accrual Preexisting Increase Decrease
ProductWarrantyAccrualPreexistingIncreaseDecrease
-1974000
CY2020Q4 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
5216000
CY2019Q4 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
8388000
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DeferredIncomeGovernmentGrantsAdditions
15733000
CY2016Q4 rail Deferred Income Government Grants Additions
DeferredIncomeGovernmentGrantsAdditions
1410000
CY2020 rail Incentive Agreement Term
IncentiveAgreementTerm
P6Y
CY2019Q4 rail Deferred Income Government Grants
DeferredIncomeGovernmentGrants
6941000
CY2018Q4 rail Deferred Income Government Grants
DeferredIncomeGovernmentGrants
9160000
CY2020 rail Recognition Of Deferred Income From State And Local Incentives
RecognitionOfDeferredIncomeFromStateAndLocalIncentives
2219000
CY2019 rail Recognition Of Deferred Income From State And Local Incentives
RecognitionOfDeferredIncomeFromStateAndLocalIncentives
2219000
CY2020Q4 rail Deferred Income Government Grants
DeferredIncomeGovernmentGrants
4722000
CY2019Q4 rail Deferred Income Government Grants
DeferredIncomeGovernmentGrants
6941000
CY2020Q4 us-gaap Warrants And Rights Outstanding
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9073000
CY2020Q4 us-gaap Fair Value Adjustment Of Warrants
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3657000
CY2020Q4 us-gaap Warrants And Rights Outstanding
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12730000
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66979000
CY2020Q4 us-gaap Long Term Debt
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55273000
CY2020Q4 us-gaap Long Term Debt Current
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17605000
CY2020Q4 us-gaap Long Term Debt Noncurrent
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37668000
CY2020Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Next Twelve Months
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17605000
CY2020Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Two
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2500000
CY2020Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Three
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6874000
CY2020Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Five
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40000000
CY2020Q4 us-gaap Debt Instrument Carrying Amount
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66979000
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-527000
CY2019 us-gaap Reclassification From Accumulated Other Comprehensive Income Current Period Net Of Tax
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-2592000
CY2019 rail Defined Benefit Plan Recognized Net Gain Loss Due To Settlements Net Of Plaintiffs Attorneys Fees
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CY2020 us-gaap Current Federal Tax Expense Benefit
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-92000
CY2020 us-gaap Deferred Foreign Income Tax Expense Benefit
DeferredForeignIncomeTaxExpenseBenefit
136000
CY2019 us-gaap Deferred State And Local Income Tax Expense Benefit
DeferredStateAndLocalIncomeTaxExpenseBenefit
-210000
CY2020 rail Deferred Income Tax Expense Benefit Excluding Deferred Tax Expense Related To Increase Decrease In Unrecognized Tax Benefits
DeferredIncomeTaxExpenseBenefitExcludingDeferredTaxExpenseRelatedToIncreaseDecreaseInUnrecognizedTaxBenefits
137000
CY2019 rail Deferred Income Tax Expense Benefit Excluding Deferred Tax Expense Related To Increase Decrease In Unrecognized Tax Benefits
DeferredIncomeTaxExpenseBenefitExcludingDeferredTaxExpenseRelatedToIncreaseDecreaseInUnrecognizedTaxBenefits
176000
CY2019 us-gaap Unrecognized Tax Benefits Period Increase Decrease
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-221000
CY2020Q4 us-gaap Defined Benefit Plan Expected Future Benefit Payments Next Twelve Months
DefinedBenefitPlanExpectedFutureBenefitPaymentsNextTwelveMonths
3385000
CY2020Q4 us-gaap Defined Benefit Plan Expected Future Benefit Payments Year Two
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3282000
CY2020Q4 us-gaap Defined Benefit Plan Expected Future Benefit Payments Year Three
DefinedBenefitPlanExpectedFutureBenefitPaymentsYearThree
3264000
CY2020Q4 us-gaap Defined Benefit Plan Expected Future Benefit Payments Year Four
DefinedBenefitPlanExpectedFutureBenefitPaymentsYearFour
3231000
CY2020Q4 us-gaap Defined Benefit Plan Expected Future Benefit Payments Year Five
DefinedBenefitPlanExpectedFutureBenefitPaymentsYearFive
3206000
CY2020Q4 us-gaap Defined Benefit Plan Expected Future Benefit Payments Five Fiscal Years Thereafter
DefinedBenefitPlanExpectedFutureBenefitPaymentsFiveFiscalYearsThereafter
15321000
CY2020 us-gaap Defined Benefit Plan Actuarial Gain Loss
DefinedBenefitPlanActuarialGainLoss
3870000
CY2019 us-gaap Defined Contribution Plan Cost Recognized
DefinedContributionPlanCostRecognized
1372000
CY2019 us-gaap Current Federal Tax Expense Benefit
CurrentFederalTaxExpenseBenefit
-12000
CY2020 us-gaap Current Foreign Tax Expense Benefit
CurrentForeignTaxExpenseBenefit
137000
CY2020 us-gaap Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
17000
CY2019 us-gaap Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
42000
CY2020 us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
62000
CY2019 us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
30000
CY2020 us-gaap Deferred Federal Income Tax Expense Benefit
DeferredFederalIncomeTaxExpenseBenefit
1000
CY2019 us-gaap Deferred Federal Income Tax Expense Benefit
DeferredFederalIncomeTaxExpenseBenefit
386000
CY2019 us-gaap Income Tax Examination Penalties And Interest Expense
IncomeTaxExaminationPenaltiesAndInterestExpense
-100000
CY2020 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
199000
CY2019 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-115000
CY2020 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.210
CY2019 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.210
CY2020 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
0.039
CY2019 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
0.029
CY2020 us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance
-0.235
CY2019 us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance
-0.201
CY2020 us-gaap Effective Income Tax Rate Reconciliation Foreign Income Tax Rate Differential
EffectiveIncomeTaxRateReconciliationForeignIncomeTaxRateDifferential
-0.001
CY2019 us-gaap Effective Income Tax Rate Reconciliation Foreign Income Tax Rate Differential
EffectiveIncomeTaxRateReconciliationForeignIncomeTaxRateDifferential
0.000
CY2020 us-gaap Effective Income Tax Rate Reconciliation Change In Enacted Tax Rate
EffectiveIncomeTaxRateReconciliationChangeInEnactedTaxRate
-0.004
CY2019 us-gaap Effective Income Tax Rate Reconciliation Change In Enacted Tax Rate
EffectiveIncomeTaxRateReconciliationChangeInEnactedTaxRate
-0.011
CY2020 us-gaap Effective Income Tax Rate Reconciliation Tax Credits Other
EffectiveIncomeTaxRateReconciliationTaxCreditsOther
-0.001
CY2019 us-gaap Effective Income Tax Rate Reconciliation Tax Credits Other
EffectiveIncomeTaxRateReconciliationTaxCreditsOther
-0.001
CY2020 us-gaap Effective Income Tax Rate Reconciliation Tax Contingencies
EffectiveIncomeTaxRateReconciliationTaxContingencies
0.000
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1152000
CY2019 us-gaap Effective Income Tax Rate Reconciliation Tax Contingencies
EffectiveIncomeTaxRateReconciliationTaxContingencies
0.017
CY2020 us-gaap Effective Income Tax Rate Reconciliation Nondeductible Expense
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-0.014
CY2019 us-gaap Effective Income Tax Rate Reconciliation Nondeductible Expense
EffectiveIncomeTaxRateReconciliationNondeductibleExpense
-0.043
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0.002
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1663000
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1541000
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17000
CY2019Q4 us-gaap Deferred Tax Liabilities Goodwill And Intangible Assets Intangible Assets
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13000
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2027000
CY2019Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Reserves And Accruals Accrued Liabilities
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3370000
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DeferredTaxAssetsStateAndLocalIncentiveRevenue
1132000
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DeferredTaxAssetsStateAndLocalIncentiveRevenue
1780000
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3145000
CY2019Q4 us-gaap Deferred Tax Assets Inventory
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2071000
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2018000
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DeferredTaxLiabilitiesPropertyPlantAndEquipment
6295000
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48738000
CY2019Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
34078000
CY2020Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Compensation And Benefits Share Based Compensation Cost
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1127000
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1135000
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1028000
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5543000
CY2019Q4 us-gaap Deferred Tax Liabilities Leasing Arrangements
DeferredTaxLiabilitiesLeasingArrangements
14193000
CY2020Q4 rail Deferred Tax Assets Lease Obligations
DeferredTaxAssetsLeaseObligations
8086000
CY2019Q4 rail Deferred Tax Assets Lease Obligations
DeferredTaxAssetsLeaseObligations
17326000
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67053000
CY2020Q4 us-gaap Deferred Income Tax Liabilities
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7578000
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61318000
CY2019Q4 us-gaap Deferred Income Tax Liabilities
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21529000
CY2020Q4 us-gaap Deferred Tax Assets Valuation Allowance
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59613000
CY2019Q4 us-gaap Deferred Tax Assets Valuation Allowance
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39792000
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7440000
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7578000
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21526000
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21529000
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19821000
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15342000
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0
CY2020Q4 us-gaap Unrecognized Tax Benefits That Would Impact Effective Tax Rate
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0
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2
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1
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1310000
CY2019Q4 us-gaap Unrecognized Tax Benefits That Would Impact Effective Tax Rate
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0
CY2019 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Expense
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CY2020 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Expense
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0
CY2019 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Expense
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0
CY2020 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Expense
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0
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1034000
CY2019 us-gaap Allocated Share Based Compensation Expense
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1225000
CY2020 us-gaap Loss Contingency Disclosures
LossContingencyDisclosures
<span style="white-space:pre-wrap; font-family: 'Times New Roman', 'serif';font-size: 10pt;font-style: normal;font-weight: bold;margin: 0;padding: 0;">Note 17 - Risks and Contingencies </span><p dir="ltr" style="font-family: 'Times New Roman', 'serif';font-size: 10pt;line-height: 108%;margin-bottom: 0;margin-left: 0;margin-right: 0;margin-top: 0;"><span style="white-space:pre-wrap; font-family: 'Times New Roman', 'serif';font-size: 10pt;font-style: normal;font-weight: bold;margin: 0;padding: 0;"> </span></p><p dir="ltr" style="font-family: 'Times New Roman', 'serif';font-size: 10pt;line-height: 108%;margin-bottom: 0;margin-left: 0;margin-right: 0;margin-top: 0;"><span style="white-space:pre-wrap; font-family: 'Times New Roman', 'serif';font-size: 10pt;font-style: normal;font-weight: normal;margin: 0;padding: 0;">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 dir="ltr" style="font-family: 'Times New Roman', 'serif';font-size: 10pt;line-height: 108%;margin-bottom: 0;margin-left: 0;margin-right: 0;margin-top: 0;"><span style="white-space:pre-wrap; font-size: 10pt;font-style: normal;font-weight: normal;margin: 0;padding: 0;"> </span></p><p dir="ltr" style="font-family: 'Times New Roman', 'serif';font-size: 10pt;line-height: 108%;margin-bottom: 0;margin-left: 0;margin-right: 0;margin-top: 0;"><span id="_Hlk505548955" style="text-decoration: none;"/></p><p dir="ltr" style="font-family: 'Times New Roman', 'serif';font-size: 10pt;line-height: 108%;margin-bottom: 0;margin-left: 0;margin-right: 0;margin-top: 0;"><span style="white-space:pre-wrap; font-family: 'Times New Roman', 'serif';font-size: 10pt;font-style: normal;font-weight: normal;margin: 0;padding: 0;">As part of a settlement agreement reached with </span><span style="white-space:pre-wrap; font-family: 'Times New Roman', 'serif';font-size: 10pt;font-style: normal;font-weight: normal;margin: 0;padding: 0;">one</span><span style="white-space:pre-wrap; font-family: 'Times New Roman', 'serif';font-size: 10pt;font-style: normal;font-weight: normal;margin: 0;padding: 0;"> of its customers, the Company agreed to pay $</span><span style="white-space:pre-wrap; font-family: 'Times New Roman', 'serif';font-size: 10pt;font-style: normal;font-weight: normal;margin: 0;padding: 0;">7,500</span><span style="white-space:pre-wrap; font-family: 'Times New Roman', 'serif';font-size: 10pt;font-style: normal;font-weight: normal;margin: 0;padding: 0;"> to settle all claims related to a prior year’s commercial dispute. During the years ended December 31, 2020 and 2019 the Company paid $</span><span style="white-space:pre-wrap; font-family: 'Times New Roman', 'serif';font-size: 10pt;font-style: normal;font-weight: normal;margin: 0;padding: 0;">1,000</span><span style="white-space:pre-wrap; font-family: 'Times New Roman', 'serif';font-size: 10pt;font-style: normal;font-weight: normal;margin: 0;padding: 0;"> and $</span><span style="white-space:pre-wrap; font-family: 'Times New Roman', 'serif';font-size: 10pt;font-style: normal;font-weight: normal;margin: 0;padding: 0;">3,500</span><span style="white-space:pre-wrap; font-family: 'Times New Roman', 'serif';font-size: 10pt;font-style: normal;font-weight: normal;margin: 0;padding: 0;">, respectively of the settlement amount and the remaining $</span><span style="white-space:pre-wrap; font-family: 'Times New Roman', 'serif';font-size: 10pt;font-style: normal;font-weight: normal;margin: 0;padding: 0;">3,000</span><span style="white-space:pre-wrap; font-family: 'Times New Roman', 'serif';font-size: 10pt;font-style: normal;font-weight: normal;margin: 0;padding: 0;"> will be paid over a period of </span><span style="white-space:pre-wrap; font-family: 'Times New Roman', 'serif';font-size: 10pt;font-style: normal;font-weight: normal;margin: 0;padding: 0;">18</span><span style="white-space:pre-wrap; font-family: 'Times New Roman', 'serif';font-size: 10pt;font-style: normal;font-weight: normal;margin: 0;padding: 0;"> months or on an accelerated basis in the event both parties agree to accelerate delivery of railcars currently in the backlog. </span></p><p dir="ltr" style="font-family: 'Times New Roman', 'serif';font-size: 10pt;line-height: 108%;margin-bottom: 0;margin-left: 0;margin-right: 0;margin-top: 0;"><span style="white-space:pre-wrap; font-size: 10pt;font-style: normal;font-weight: normal;margin: 0;padding: 0;"> </span></p><p dir="ltr" style="font-family: 'Times New Roman', 'serif';font-size: 10pt;line-height: 108%;margin-bottom: 0;margin-left: 0;margin-right: 0;margin-top: 0;"><span style="white-space:pre-wrap; font-family: 'Times New Roman', 'serif';font-size: 10pt;font-style: normal;font-weight: normal;margin: 0;padding: 0;">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. While the ultimate outcome of these other legal proceedings cannot be determined at this time, it is the opinion of management that the resolution of these other actions will not have a material adverse effect on the Company’s financial condition, results of operations or cash flows.</span></p>
CY2020 us-gaap Weighted Average Number Of Shares Issued Basic
WeightedAverageNumberOfSharesIssuedBasic
12881403
CY2019 us-gaap Weighted Average Number Of Shares Issued Basic
WeightedAverageNumberOfSharesIssuedBasic
12352142
CY2020 us-gaap Weighted Average Number Of Shares Contingently Issuable
WeightedAverageNumberOfSharesContingentlyIssuable
551025
CY2020 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
13432428
CY2019 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
12352142
CY2020 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
13432428
CY2019 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
12352142
CY2020 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
1078409
CY2019 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
659678
CY2020 us-gaap Operating Lease Lease Income
OperatingLeaseLeaseIncome
4395000
CY2019 us-gaap Operating Lease Lease Income
OperatingLeaseLeaseIncome
6452000
CY2020 us-gaap Revenues
Revenues
108447000
CY2019 us-gaap Revenues
Revenues
229958000

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