FreightCar America (RAIL) 10-Q 16 Aug 21 2021 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jun. 30, 2021	Aug. 09, 2021
Document and Entity Information [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Current Fiscal Year End Date	--12-31
Document Period End Date	Jun. 30, 2021
Document Fiscal Year Focus	2021
Document Transition Report	false
Entity File Number	000-51237
Entity Registrant Name	FREIGHTCAR AMERICA, INC.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	25-1837219
Entity Address, Address Line One	125 South Wacker Drive
Entity Address, Address Line Two	Suite 1500
Entity Address, City or Town	Chicago
Entity Address, State or Province	IL
Entity Address, Postal Zip Code	60606
City Area Code	800
Local Phone Number	458-2235
Title of 12(b) Security	Common stock, par value $0.01 per share
Trading Symbol	RAIL
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		15,724,922
Amendment Flag	false
Document Fiscal Period Focus	Q2
Entity Central Index Key	0001320854

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Current assets
Cash, cash equivalents and restricted cash equivalents	$ 20,730	$ 54,047
Restricted certificates of deposit	0	182
Accounts receivable, net of allowance for doubtful accounts of $880 and $1,235 respectively	8,505	9,421
VAT receivable	21,276	4,462
Inventories, net	48,783	38,831
Assets held for sale		10,383
Prepaid expenses	10,547	3,652
Total current assets	109,841	120,978
Property, plant and equipment, net	19,790	19,642
Railcars available for lease, net	20,633	20,933
Right of use asset	17,265	18,152
Other long-term assets	2,529	3,037
Total assets	170,058	182,742
Current liabilities
Accounts and contractual payables	34,612	18,654
Accrued payroll and other employee costs	1,622	2,505
Reserve for workers’ compensation	2,389	2,645
Accrued warranty	2,850	5,216
Customer deposits		4,351
Deferred income state and local incentives, current	1,465	2,219
Lease liability, current	1,904	11,635
Current portion of long-term debt	20,518	17,605
Other current liabilities	4,169	6,319
Total current liabilities	69,529	71,149
Long-term debt, net of current portion	48,187	37,668
Warrant liability	31,406	12,730
Accrued pension costs	6,350	7,046
Deferred income state and local incentives, long-term	2,148	2,503
Lease liability, long-term	17,594	18,549
Other long-term liabilities	4,282	2,600
Total liabilities	179,496	152,245
Stockholders' equity
Preferred stock, $0.01 par value, 2,500,000 shares authorized (100,000 shares each designated as Series A voting and Series B non-voting, 0 shares issued and outstanding at June 30, 2021 and December 31, 2020)
Common stock, $0.01 par value, 50,000,000 shares authorized, 15,980,742 and 15,861,406 shares issued at June 30, 2021 and December 31, 2020, respectively	160	159
Additional paid in capital	82,682	82,064
Treasury stock, at cost, 446,587 and 327,577 shares at June 30, 2021 and December 31, 2020, respectively	(1,782)	(1,344)
Accumulated other comprehensive loss	(11,451)	(11,763)
Accumulated deficit	(79,047)	(38,619)
Total stockholders' (deficit) equity	(9,438)	30,497
Total liabilities and stockholders’ equity	$ 170,058	$ 182,742

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Allowance for doubtful accounts	$ 880	$ 1,235
Preferred stock, par value	$ 0.01	$ 0.01
Preferred stock, shares authorized	2,500,000	2,500,000
Common stock, par value	$ 0.01	$ 0.01
Common stock, shares authorized	50,000,000	50,000,000
Common stock, shares issued	15,980,742	15,861,406
Treasury stock, shares at cost	446,587	327,577
Series A Preferred Stock [Member]
Preferred stock, shares authorized	100,000	100,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Series B Preferred Stock [Member]
Preferred stock, shares authorized	100,000	100,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations - USD ($) $ in Thousands	3 Months Ended			6 Months Ended
	Jun. 30, 2021	Mar. 31, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Condensed Consolidated Statements of Operations [Abstract]
Revenues	$ 37,354	$ 32,370	$ 17,458	$ 69,724	$ 22,655
Cost of sales	33,716	29,780	23,602	63,496	37,602
Gross profit (loss)	3,638	2,590	(6,144)	6,228	(14,947)
Selling, general and administrative expenses	6,294	9,151	6,537	15,445	13,947
Restructuring and impairment charges	(120)	6,650	267	6,530	1,147
Operating loss	(2,536)	(13,211)	(12,948)	(15,747)	(30,041)
Interest expense	(3,212)	(2,502)	(167)	(5,714)	(463)
Loss on change in fair market value for warrant liability	(3,452)	22,128	0	18,676	0
Other income	230	115	134	345	358
Loss before income taxes	(2,066)	(37,726)	(12,981)	(39,792)	(30,146)
Income tax provision (benefit)	504	132	(1)	636	(3)
Net loss	(2,570)	(37,858)	(12,980)	(40,428)	(30,143)
Less Net loss attributable to noncontrolling interest in JV	0	0	(189)	0	(405)
Net loss attributable to FreightCar America	$ (2,570)	$ (37,858)	$ (12,791)	$ (40,428)	$ (29,738)
Net loss per common share attributable to FreightCar America- basic	$ (0.13)	$ (1.89)	$ (0.97)	$ (2.01)	$ (2.26)
Net loss per common share attributable to FreightCar America- diluted	$ (0.13)	$ (1.89)	$ (0.97)	$ (2.01)	$ (2.26)
Weighted Average Number of Shares Outstanding, Basic	20,160,410	20,001,505	12,405,011	20,084,199	12,385,946
Weighted Average Number of Shares Outstanding, Diluted	20,160,410	20,001,505	12,405,011	20,084,199	12,385,946

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Comprehensive Loss - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Condensed Consolidated Statements of Comprehensive Loss [Abstract]
Net loss	$ (2,570)	$ (12,980)	$ (40,428)	$ (30,143)
Other comprehensive income net of tax:
Pension and postretirement liability adjustments, net of tax	156	140	312	281
Comprehensive loss	$ (2,414)	$ (12,840)	$ (40,116)	$ (29,862)

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Stockholders Equity (Undaunted) - USD ($) $ in Thousands	Total	Common Stock [Member]	Additional Paid In Capital [Member]	Treasury Stock [Member]	Accumulated Other Comprehensive Loss [Member]	Retained Earnings (Deficit) [Member]	Noncontrolling Interest [Member]
Balance at Dec. 31, 2019	$ 117,154	$ 127	$ 83,027	$ (989)	$ (10,780)	$ 45,824	$ (55)
Balance (Shares) at Dec. 31, 2019		12,731,678		(44,855)
Net loss	(30,143)					(29,738)	(405)
Other comprehensive income	281				281
Restricted stock awards		$ 9	(9)
Restricted stock awards, shares		872,494
Employee stock settlement	(9)			$ (9)
Employee stock settlement, shares				(5,717)
Forfeiture of restricted stock awards			283	$ (283)
Forfeiture of restricted stock awards, shares				(234,439)
Stock-based compensation recognized	17		17
Balance at Jun. 30, 2020	87,300	$ 136	83,318	$ (1,281)	(10,499)	16,086	(460)
Balance (Shares) at Jun. 30, 2020		13,604,172		(285,011)
Balance at Mar. 31, 2020	100,350	$ 133	83,374	$ (1,124)	(10,639)	28,877	(271)
Balance (Shares) at Mar. 31, 2020		13,319,197		(152,617)
Net loss	(12,980)					(12,791)	(189)
Other comprehensive income	140				140
Restricted stock awards		$ 3	(3)
Restricted stock awards, shares		284,975
Forfeiture of restricted stock awards			157	$ (157)
Forfeiture of restricted stock awards, shares				(132,394)
Stock-based compensation recognized	(210)		(210)
Balance at Jun. 30, 2020	87,300	$ 136	83,318	$ (1,281)	(10,499)	16,086	$ (460)
Balance (Shares) at Jun. 30, 2020		13,604,172		(285,011)
Balance at Dec. 31, 2020	30,497	$ 159	82,064	$ (1,344)	(11,763)	(38,619)
Balance (Shares) at Dec. 31, 2020		15,861,406		(327,577)
Net loss	(37,858)
Balance at Mar. 31, 2021	(7,186)	$ 161	82,519	$ (1,782)	(11,607)	(76,477)
Balance (Shares) at Mar. 31, 2021		16,033,481		(446,587)
Balance at Dec. 31, 2020	30,497	$ 159	82,064	$ (1,344)	(11,763)	(38,619)
Balance (Shares) at Dec. 31, 2020		15,861,406		(327,577)
Net loss	(40,428)					(40,428)
Other comprehensive income	312				312
Restricted stock awards		$ 2	(2)
Restricted stock awards, shares		213,465
Employee stock settlement	(12)		(5)	$ (7)
Employee stock settlement, shares		(1,638)		(2,215)
Forfeiture of restricted stock awards	(1)	$ (1)	431	$ (431)
Forfeiture of restricted stock awards, shares		(92,491)		(116,795)
Stock-based compensation recognized	194		194
Balance at Jun. 30, 2021	(9,438)	$ 160	82,682	$ (1,782)	(11,451)	(79,047)
Balance (Shares) at Jun. 30, 2021		15,980,742		(446,587)
Balance at Mar. 31, 2021	(7,186)	$ 161	82,519	$ (1,782)	(11,607)	(76,477)
Balance (Shares) at Mar. 31, 2021		16,033,481		(446,587)
Net loss	(2,570)					(2,570)
Other comprehensive income	156				156
Restricted stock awards, shares		35,512
Employee stock settlement, shares		(260)
Forfeiture of restricted stock awards	(1)	$ (1)
Forfeiture of restricted stock awards, shares		(87,991)
Stock-based compensation recognized	163		163
Balance at Jun. 30, 2021	$ (9,438)	$ 160	$ 82,682	$ (1,782)	$ (11,451)	$ (79,047)
Balance (Shares) at Jun. 30, 2021		15,980,742		(446,587)

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Cash flows from operating activities
Net loss	$ (40,428)	$ (30,143)
Adjustments to reconcile net loss to net cash flows used in operating activities:
Restructuring and impairment charges	6,530	352
Depreciation and amortization	2,196	5,884
Non-cash lease expense on right-of-use assets	887	3,065
Recognition of deferred income from state and local incentives	(1,110)	(1,110)
Loss on change in fair market value for warrant liability	18,676	0
Stock-based compensation recognized	2,961	94
Non-cash interest expense	1,981	140
Other non-cash items, net	96	13
Changes in operating assets and liabilities, net of acquisitions:
Accounts receivable	916	508
VAT receivable	(16,814)	(306)
Inventories	(8,058)	(22,024)
Other assets	(6,263)	(7,188)
Accounts and contractual payables	6,193	6,456
Accrued payroll and employee benefits	(802)	(941)
Income taxes receivable/payable	(360)	(13)
Accrued warranty	(2,366)	(485)
Lease liability	(1,180)	(5,391)
Customer deposits	0	27,889
Other liabilities	(6,749)	2,548
Accrued pension costs and accrued postretirement benefits	(415)	(131)
Net cash flows used in operating activities	(44,109)	(20,783)
Cash flows from investing activities
Purchase of restricted certificates of deposit	0	(3,855)
Maturity of restricted certificates of deposit	182	3,769
Purchase of property, plant and equipment	(1,433)	(7,009)
Proceeds from sale of property, plant and equipment and railcars available for lease	433	170
Net cash flows used in investing activities	(818)	(6,925)
Cash flows from financing activities
Proceeds from issuance of long-term debt	16,000	10,000
Deferred financing cost	(480)	0
Borrowings on revolving line of credit	7,220	0
Repayments on revolving line of credit	(11,068)	0
Employee stock settlement	(7)	(9)
Payment for stock appreciation rights exercised	(55)	0
Net cash flows provided by financing activities	11,610	9,991
Net decrease in cash and cash equivalents	(33,317)	(17,717)
Cash, cash equivalents and restricted cash equivalents at beginning of period	54,047	66,257
Cash, cash equivalents and restricted cash equivalents at end of period	20,730	48,540
Supplemental cash flow information
Interest paid	2,813	217
Income tax refunds received, net of payments	5	0
Non-cash transactions
Change in unpaid construction in process	530	(115)
Accrued PIK interest paid through issuance of PIK Note	$ 553	$ 0

Description of the Business

Description of the Business	6 Months Ended
	Jun. 30, 2021
Description of the Business [Abstract]
Description of the Business	Note 1 – Description of the Business FreightCar America, Inc. (“FreightCar”) 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”). During 2019, the Company entered into a joint venture arrangement with Fabricaciones y Servicios de México, S.A. de C.V. (“Fasemex”), a Mexican company with operations in both Mexico and the United States to manufacture railcars in Castaños, in exchange for a 50 % interest in the operation. Production of railcars at the Castaños facility began during the third quarter of 2020. On October 16, 2020, the Company acquired Fasemex’s 50 % ownership in the joint venture. As of March 2021, the Company moved all of its production to the Castaños facility. The Company ceased operations at its Roanoke Virginia manufacturing facility (the “Roanoke Facility”) and vacated the facility as of March 31, 2020. On September 10, 2020, the Company announced its plan to permanently close its manufacturing facility in Cherokee, Alabama (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. See Note 14 – Restructuring and Impairment Charges. We are closely monitoring the spread and impact of the COVID-19 pandemic and are continually assessing its potential effects on our business and our financial performance as well as the businesses of our customers and vendors. The Company cannot predict the duration or severity of the COVID-19 pandemic, and we cannot reasonably estimate the financial impact the COVID-19 outbreak will have on our results and significant estimates going forward.

Basis of Presentation

Basis of Presentation	6 Months Ended
	Jun. 30, 2021
Basis of Presentation [Abstract]
Basis of Presentation	Note 2 – Basis of Presentation The accompanying condensed consolidated financial statements include the accounts of FreightCar America, Inc. and its subsidiaries. All intercompany accounts and transactions have been eliminated in consolidation. The foregoing financial information has been prepared in accordance with the accounting principles generally accepted in the United States of America (“GAAP”) and rules and regulations of the U.S. Securities and Exchange Commission (the “SEC”) for interim financial reporting. The preparation of the financial statements in accordance with GAAP requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. Actual results could differ from these estimates. The results of operations for the three and six months ended June 30, 2021 are not necessarily indicative of the results to be expected for the full year. The accompanying interim financial information is unaudited; however, the Company believes the financial information reflects all adjustments (consisting of items of a normal recurring nature) necessary for a fair presentation of financial position, results of operations and cash flows in conformity with GAAP. The 2020 year-end balance sheet data was derived from the audited financial statements as of December 31, 2020. Certain information and note disclosures normally included in the Company’s annual financial statements prepared in accordance with GAAP have been condensed or omitted. These interim financial statements should be read in conjunction with the audited financial statements contained in the Company’s annual report on Form 10-K for the year ended December 31, 2020.

Revenue Recognition

Revenue Recognition	6 Months Ended
	Jun. 30, 2021
Revenue Recognition [Abstract]
Revenue Recognition	Note 3 – Revenue Recognition The following table disaggregates the Company’s revenues by major source: Three Months Ended Six Months Ended June 30, June 30, 2021 2020 2021 2020 Railcar sales $ 34,371 $ 13,746 $ 63,300 $ 15,272 Parts sales 2,168 2,297 4,496 4,510 Other sales — 1 38 1 Revenues from contracts with customers 36,539 16,044 67,834 19,783 Leasing revenues 815 1,414 1,890 2,872 Total revenues $ 37,354 $ 17,458 $ 69,724 $ 22,655 Contract Balances and Accounts Receivable Accounts receivable payments for railcar sales are typically due within 5 to 10 business days of invoicing, while payments from parts sales are typically due within 30 to 45 business days of invoicing. The Company has not experienced significant historical credit losses. Contract assets represent the Company’s rights to consideration for performance obligations that have been satisfied but for which the terms of the contract do not permit billing at the reporting date. The Company has no contract assets as of June 30, 2021 . The Company had contract assets of $ 445 as of December 31, 2020 which were fully recognized as revenue during the three months ended March 31, 2021. The Company may receive cash payments from customers in advance of the Company satisfying performance obligations under its sales contracts resulting in deferred revenue or customer deposits, which are considered contract liabilities. Deferred revenue and customer deposits are classified as either current or long-term in the Consolidated Balance Sheet based on the timing of when the Company expects to recognize the related revenue. Deferred revenue and customer deposits included in customer deposits, other current liabilities and other long-term liabilities in the Company’s Condensed Consolidated Balance Sheet were $ 0 and $ 6,930 as of June 30, 2021 and December 31, 2020, respectively. Performance Obligations The Company is electing not to disclose the value of the remaining unsatisfied performance obligation with a duration of one year or less as permitted by ASU 2014-09, Revenue from Contracts with Customers. The Company had remaining unsatisfied performance obligations as of June 30, 2021 with expected duration of greater than one year of $ 14,850 .

Segment Information

Segment Information	6 Months Ended
	Jun. 30, 2021
Segment Information [Abstract]
Segment Information	Note 4 – Segment Information The Company’s operations comprise two operating segments, Manufacturing and Parts, and one reportable segment, Manufacturing. The Company’s Manufacturing segment includes new railcar manufacturing, used railcar sales, railcar leasing and major railcar conversions and rebuilds. The Company’s Parts operating segment is not significant for reporting purposes and has been combined with corporate and other non-operating activities as Corporate and Other. Segment operating income is an internal performance measure used by the Company’s Chief Operating Decision Maker to assess the performance of each segment in a given period. Segment operating income includes all external revenues attributable to the segments as well as operating costs and income that management believes are directly attributable to the current production of goods and services. The Company’s internal management reporting package does not include interest revenue, interest expense or income taxes allocated to individual segments and these items are not considered as a component of segment operating income. Segment assets represent operating assets and exclude intersegment accounts, deferred tax assets and income tax receivables. The Company does not allocate cash and cash equivalents and restricted cash and restricted cash equivalents to its operating segments as the Company’s treasury function is managed at the corporate level. Intersegment revenues were not material in any period presented. Three Months Ended Six Months Ended June 30, June 30, 2021 2020 2021 2020 Revenues: Manufacturing $ 35,158 $ 15,129 $ 65,177 $ 18,069 Corporate and Other 2,196 2,329 4,547 4,586 Consolidated revenues $ 37,354 $ 17,458 $ 69,724 $ 22,655 Operating income (loss): Manufacturing (1) $ 1,878 $ ( 8,348 ) $ ( 2,866 ) $ ( 20,148 ) Corporate and Other ( 4,414 ) ( 4,600 ) ( 12,881 ) ( 9,893 ) Consolidated operating loss ( 2,536 ) ( 12,948 ) ( 15,747 ) ( 30,041 ) Consolidated interest expense ( 3,212 ) ( 167 ) ( 5,714 ) ( 463 ) Gain (loss) on change in fair market value of warrant liability 3,452 - ( 18,676 ) - Consolidated other income 230 134 345 358 Consolidated loss before income taxes $ ( 2,066 ) $ ( 12,981 ) $ ( 39,792 ) $ ( 30,146 ) Depreciation and amortization: Manufacturing $ 854 $ 2,688 $ 1,921 $ 5,483 Corporate and Other 145 183 275 401 Consolidated depreciation and amortization $ 999 $ 2,871 $ 2,196 $ 5,884 Capital expenditures: Manufacturing $ 697 $ 3,033 $ 1,042 $ 5,953 Corporate and Other 194 305 391 1,056 Consolidated capital expenditures $ 891 $ 3,338 $ 1,433 $ 7,009 (1) Results for the three months and six months ended June 30, 2021 include restructuring and impairment charges of ($ 120 ) and $ 6,530 , respectively. Results for the three months and six months ended June 30, 2020 include restructuring and impairment charges of $ 267 and $ 1,147 , respectively. June 30, December 31, 2021 2020 Assets: Manufacturing $ 133,342 $ 114,669 Corporate and Other 36,344 68,046 Total operating assets 169,686 182,715 Consolidated income taxes receivable 372 27 Consolidated assets $ 170,058 $ 182,742 Geographic Information Revenues Long Lived Assets(a) Three Months Ended Six Months Ended June 30, June 30, June 30, December 31, 2021 2020 2021 2020 2021 2020 United States $ 37,354 $ 17,458 $ 69,724 $ 22,655 $ 26,255 $ 48,126 Mexico - - - - 31,433 20,984 Total $ 37,354 $ 17,458 $ 69,724 $ 22,655 $ 57,688 $ 69,110 (a) Long lived assets include property plant and equipment, net, railcars available for lease, and ROU assets.

Fair Value Measurements

Fair Value Measurements	6 Months Ended
	Jun. 30, 2021
Fair Value Measurements [Abstract]
Fair Value Measurements	Note 5 – Fair Value Measurements The following table sets forth by level within the fair value hierarchy the Company’s financial assets that were recorded at fair value on a recurring basis and the Company’s non-financial assets that were recorded at fair value on a non-recurring basis. Recurring Fair Value Measurements As of June 30, 2021 Level 1 Level 2 Level 3 Total Assets: Cash equivalents $ 3,881 $ - $ - $ 3,881 Liabilities: Warrant liability $ - $ 31,406 $ - $ 31,406 Recurring Fair Value Measurements As of December 31, 2020 Level 1 Level 2 Level 3 Total Assets: Cash equivalents $ 7,993 $ - $ - $ 7,993 Restricted certificates of deposit $ 182 $ - $ - $ 182 Liabilities: Warrant liability $ - $ 12,730 $ - $ 12,730 Non-recurring Fair Value Measurements During the Year-Ended December 31, 2020 Level 1 Level 2 Level 3 Total Assets: Assets held for sale $ - $ - $ 10,383 $ 10,383 Right of use assets $ - $ - $ 28,960 $ 28,960 Property, plant and equipment, net $ - $ - $ 11,515 $ 11,515 Railcars available for lease, net $ - $ - $ 13,175 $ 13,175 The fair value of the Company’s warrant liability recorded in the Company’s financial statements, determined using the quoted price of the Company’s common stock in an active market, exercise price ($ 0.01 /share) and number of shares exercisable at June 30, 2021 and December 31, 2020, is a Level 2 measurement. On September 10, 2020, the Company announced its plan to permanently close its Shoals Facility. In connection with the announcement, the Company estimated the fair value of the related asset group because it determined that an impairment trigger had occurred due to the shortened asset recoverability timeframe. Assets held for sale represents property, plant and equipment to be sold or transferred to the Shoals landlord as consideration for the landlord’s entry into the lease amendment. During the fourth quarter of 2020, the oil and gas proppants (or “frac sand”) industry continued to experience economic pressure created by low oil prices, reduced fracking activity, and the ongoing economic impact of COVID-19. In particular, small cube covered hopper railcars are primarily used in North America to serve the frac sand industry. The Company believes that the events and circumstances that arose during the fourth quarter of 2020 constituted an impairment triggering event related to the small cube covered hopper car type in its leased railcar portfolio. During the fourth quarter of 2020, the Company recorded a pre-tax non-cash impairment charge of $ 16,952 related to its small cube covered hopper railcars. Additionally, the Company evaluated the ROU asset associated with its leased railcar portfolio of small cube covered hopper railcars and determined that these assets were impaired based on consideration of an expected decline in future cash flows over the remaining lease term, which resulted in an additional pre-tax non-cash impairment charge of approximately $ 1,999 during the fourth quarter of 2020.

Restricted Cash

Restricted Cash	6 Months Ended
	Jun. 30, 2021
Restricted Cash [Abstract]
Restricted Cash	Note 6 – Restricted Cash The Company establishes restricted cash balances when required by customer contracts and to collateralize standby letters of credit. The carrying value of restricted cash approximates fair value. The Company’s restricted cash balances are as follows: June 30, December 31, 2021 2020 Restricted cash from customer deposit $ 281 $ 3,204 Restricted cash to collateralize standby letters of credit 3,193 3,396 Restricted cash equivalents to collateralize standby letters of credit 3,542 3,855 Restricted cash equivalents - other 181 - Total restricted cash $ 7,197 $ 10,455

Inventories

Inventories	6 Months Ended
	Jun. 30, 2021
Inventories [Abstract]
Inventories	Note 7 – Inventories Inventories, net of reserve for excess and obsolete items, consist of the following: June 30, December 31, 2021 2020 Work in process $ 44,080 $ 34,355 Parts inventory 4,703 4,476 Total inventories, net $ 48,783 $ 38,831 Inventory on the Company’s Condensed Consolidated Balance Sheets includes reserves of $ 2,333 and $ 9,836 relating to excess or slow-moving inventory and lower of cost or net realizable value for parts and work in process at June 30, 2021 and December 31, 2020, respectively.

Debt Financing and Revolving Cr

Debt Financing and Revolving Credit Facilities	6 Months Ended
	Jun. 30, 2021
Debt Financing and Revolving Credit Facilities [Abstract]
Debt Financing and Revolving Credit Facilities	Note 8 – Debt Financing and Revolving Credit Facilities Siena Loan and Security Agreement On October 8, 2020, the Company entered into a Loan and Security Agreement (the “Siena Loan Agreement”) by and among the Company, as guarantor, and certain of its subsidiaries, as borrowers (together with the Company, the “Loan Parties”), and Siena Lending Group LLC, as lender (“Siena”). Pursuant to the Siena Loan Agreement, Siena provided an asset backed credit facility, in the maximum aggregate principal amount of up to $ 20,000 , consisting of revolving loans. The Siena Loan Agreement replaced the Company’s prior revolving credit facility under the Credit and Security Agreement (the “BMO Credit Agreement”) dated as of April 12, 2019, among the Company and certain of its subsidiaries, as borrowers and guarantors, and BMO Harris Bank N.A., as lender, as amended from time to time, which was terminated effective October 8, 2020 and otherwise would have matured on April 12, 2024. The Siena Loan Agreement has a term ending on October 8, 2023. Revolving loans outstanding thereunder bear interest, subject to the provisions of the Siena Loan Agreement, at the Base Rate (as defined in the Siena Loan Agreement) plus 3.00 % per annum. As of June 30, 2021, the interest rate on outstanding debt under the Siena Loan Agreement was 6.26 %. The Siena Loan Agreement provides for a revolving credit facility with maximum availability of $ 20,000 , subject to borrowing base requirements set forth in the Siena Loan Agreement, which generally limit availability under the revolving credit facility to (a) 85 % of the value of eligible accounts and (b) up to the lesser of (i) 50 % of the lower of cost or market value of eligible inventory and (ii) 85 % of the net orderly liquidation value of eligible inventory, and as reduced by reserves established by Siena from time to time in accordance with the Siena Loan Agreement. The Siena Loan Agreement contains affirmative and negative covenants, including, without limitation, limitations on future indebtedness, liens and investments. The Siena Loan Agreement also provides for customary events of default. Pursuant to the terms and conditions set forth in the Siena Loan Agreement, each of the Loan Parties granted Siena a continuing lien upon certain assets of the Loan Parties to secure the obligations of the Loan Parties under the Siena Loan Agreement. As of June 30, 2021, the Company had $ 2,613 in outstanding debt under the Siena Loan Agreement and remaining borrowing availability of $ 17 . As of December 31, 2020, the Company had $ 6,874 in outstanding debt under the Siena Loan Agreement and remaining borrowing availability of $ 9,701 . The Company incurred $ 1,101 in deferred financing costs related to the Siena Loan Agreement. The deferred financing costs are presented as an asset and amortized to interest expense on a straight-line basis over the term of the Siena Loan Agreement. On July 30, 2021, the Loan Parties and Siena Lending Group LLC ( the "Revolving Loan Lender") entered into an Amended and Restated Loan and Security Agreement (the “Amended and Restated Loan and Security Agreement”), which amended and restated the terms and conditions of the Siena Loan Agreement in its entirety. See Note 16 - Subsequent Events Term Loan Credit Agreement On October 13, 2020, the Company entered into a Credit Agreement (the “Term Loan Credit Agreement”) by and among the Company, as guarantor, FreightCar North America (“Borrower” and together with the Company and certain other subsidiary guarantors, collectively, the “Loan Parties”), CO Finance LVS VI LLC, as lender (the “Lender”), and U.S. Bank National Association, as disbursing agent and collateral agent (“Agent”). Pursuant to the Term Loan Credit Agreement, the Lender committed to the extension of a term loan credit facility in the principal amount of $ 40,000 , consisting of a single term loan to be funded upon the satisfaction of certain conditions precedent set forth in the Term Loan Credit Agreement, including stockholder approval of the issuance of the common stock underlying the Warrant described below (the funding date of such term loan, the “Closing Date”). FreightCar America, Inc. stockholders approved the issuance of the common stock underlying the Warrant at a special stockholders’ meeting on November 24, 2020. The $ 40,000 term loan closed and was funded on November 24, 2020. The Company incurred $ 2,872 in deferred financing costs related to the Term Loan Agreement. The deferred financing costs are presented as a reduction of the long-term debt balance and amortized to interest expense over the term of the Term Loan Agreement. The Term Loan Credit Agreement has a term ending five years following the Closing Date. The term loan outstanding under the Term Loan Credit Agreement bears interest, at Borrower’s option and subject to the provisions of the Term Loan Credit Agreement, at Base Rate (as defined in the Term Loan Credit Agreement) or Eurodollar Rate (as defined in the Term Loan Credit Agreement) plus the Applicable Margin (as defined in the Term Loan Credit Agreement) for each such interest rate set forth in the Term Loan Credit Agreement. As of June 20, 2021, the interest rate on the original advance under the Term Loan Credit Agreement was 14.0 %. The Term Loan Credit Agreement has both affirmative and negative covenants, including, without limitation, minimum liquidity, limitations on indebtedness, liens and investments. The Term Loan Credit Agreement also provides for customary events of default. Pursuant to the terms and conditions set forth in the Term Loan Credit Agreement and the related loan documents, each of the Loan Parties granted to Agent a continuing lien upon all of such Loan Parties’ assets to secure the obligations of the Loan Parties under the Term Loan Credit Agreement. On May 14, 2021, FreightCar North America (“Borrower” and together with the Company and certain other subsidiary guarantors, collectively, the “Loan Parties”) entered into an Amendment No. 2 to the Term Loan Credit Agreement (the “Amendment” and together with the Term Loan Credit Agreement, the “Term Loan Credit Agreement”) with CO Finance LVS VI LLC, as lender (the “Lender”), an affiliate of a corporate credit fund, and U.S. Bank National Association, as disbursing agent and collateral agent (“Agent”), pursuant to which the principal amount of the term loan credit facility was increased by $ 16,000 to a total of $ 56,000 , with such additional $ 16,000 (the “Additional Loan”) to be funded upon the satisfaction of certain conditions precedent set forth in the Amendment. The Additional Loan closed and was funded on May 17, 2021. The Company incurred $ 480 in deferred financing costs related to the Amendment which are presented as a reduction of the long-term debt balance and amortized on a straight-line basis to interest expense over the term of the Amendment. The Additional Loan will bear interest, at Borrower’s option and subject to the provisions of the Term Loan Credit Agreement, at Base Rate (as defined in the Term Loan Credit Agreement) or Eurodollar Rate (as defined in the Term Loan Credit Agreement) plus the Applicable Margin (as defined in the Term Loan Credit Agreement) for each such interest rate set forth in the Term Loan Credit Agreement. As of June 30, 2021, the interest rate on the Additional Loan was 14.75 %. Pursuant to the Amendment, in the event that the Additional Loan is not repaid in full by March 31, 2022, the Company shall issue to the Lender and/or an affiliate of the Lender a warrant (the “Additional Warrant”) to purchase a number of shares of the Company’s common stock, par value $0.01 per share, equal to 5% of the Company’s outstanding common stock on a fully-diluted basis at the time the Additional Warrant is exercised (after giving effect to such issuance). The Additional Warrant, if issued, will have an exercise price of $ 0.01 and a term of ten years . The Amendment contains additional covenants, including, among other things, that the Company i) obtain a term sheet for additional financing of no less than $ 15,000 by July 31, 2021 and ii) file a registration statement on Form S-3 registering Company securities, including the shares of Company common stock issuable upon exercise of the Additional Warrants, by no later than August 31, 2021. On July 30, 2021, FreightCar North America, LLC (“Borrower” and together with the Company and certain other subsidiary guarantors, collectively, the “Loan Parties”) entered into an Amendment No. 3 to Credit Agreement. See Note 16 - Subsequent Events. Warrant In connection with the entry into the Term Loan Credit Agreement, the Company issued to an affiliate of the Lender (the “Warrantholder”) a warrant (the “Warrant”), pursuant to that certain warrant acquisition agreement, dated as of October 13, 2020 (the “Warrant Acquisition Agreement”), by and between the Company and the Lender to purchase a number of shares of the Company’s common stock, par value $ 0.01 per share, equal to 23 % of the outstanding common stock on a fully-diluted basis at the time the Warrant is exercised (after giving effect to such issuance). The Warrant is exercisable for a term of ten years from the date of the issuance of the Warrant. The Warrant was issued on November 24, 2020 after the Company received stockholder approval of the issuance of the common stock issuable upon exercise of the Warrant by the Warrantholder. In connection with the issuance of the Warrant, the Company and the Lender entered into a registration rights agreement (the “Registration Rights Agreement”) as of the Closing Date of November 24, 2020. As of June 30, 2021 and December 31, 2020, the Warrant was exercisable for an aggregate of 5,305,140 and 5,307,539 shares, respectively of common stock of the Company with a per share exercise price of $ 0.01 . The Company determined that the Warrant should be accounted for as a derivative instrument and classified as a liability on its Consolidated Balance Sheets primarily due to the instrument obligating the Company to settle the Warrant in a variable number of shares of common stock. The Warrant was recorded at fair value and is treated as a discount on the term loan. The discount on the associated debt is amortized over the life of the Term Loan Credit Agreement and included in interest expense. The following schedule shows the change in fair value of the Warrant as of June 30, 2021. Warrant liability as of December 31, 2020 $ 12,730 Change in fair value 18,676 Warrant liability as of June 30, 2021 $ 31,406 The change in fair value of the Warrant is reported on a separate line in the consolidated statement of operations. The Term Loan Credit Agreement is presented net of the unamortized discount and unamortized deferred financing costs. SBA Paycheck Protection Program Loan In March 2020, Congress passed the Paycheck Protection Program (“PPP”), authorizing loans to small businesses for use in paying employees that they continue to employ throughout the global pandemic and for rent, utilities and interest on mortgages. In June 2020, Congress enacted the Paycheck Protection Program Flexibility Act (“PPPFA”), amending the PPP. Loans obtained through the PPP, as amended, are eligible to be forgiven as long as the proceeds are used for qualifying purposes and certain other conditions are met. On April 16, 2020, the Company received a loan from BMO Harris Bank N.A. in the amount of $ 10,000 (the “PPP Loan”). Since the entire PPP Loan was used for payroll, utilities and interest, management anticipated that the majority of the PPP Loan would be forgiven. The Company filed an application for PPP Loan forgiveness on October 28, 2020 along with a request for extension of the term of the PPP Loan to five years. On July 14, 2021, the Company received a notification from BMO Harris Bank N.A. that the Small Business Administration approved the Company’s PPP Loan forgiveness application. See Note 16 - Subsequent Events M&T Credit Agreement On April 16, 2019, FreightCar America Leasing 1, LLC, an indirect wholly-owned subsidiary of the Company (“Freightcar Leasing Borrower”), entered into a Credit Agreement (the “M&T Credit Agreement”) with M & T Bank, N.A., as lender (“M&T”). Pursuant to the M&T Credit Agreement, M&T extended a revolving credit facility to Freightcar Leasing Borrower in an aggregate amount of up to $ 40,000 for the purpose of financing railcars which will be leased to third parties. On April 16, 2019, Freightcar Leasing Borrower also entered into a Security Agreement (the “M&T Security Agreement”) pursuant to which it granted a security interest in all of its assets to M&T to secure its obligations under the M&T Credit Agreement. On April 16, 2019, FreightCar America Leasing, LLC, a wholly-owned subsidiary of the Company and parent of Freightcar Leasing Borrower (“Freightcar Leasing Guarantor”), entered into (i) a Guaranty Agreement (the “M&T Guaranty Agreement”) pursuant to which Freightcar Leasing Guarantor guarantees the repayment and performance of certain obligations of Freightcar Leasing Borrower and (ii) a Pledge Agreement (the “M&T Pledge Agreement”) pursuant to which Freightcar Leasing Guarantor pledged all of the equity of Freightcar Leasing Borrower held by Freightcar Leasing Guarantor. The loans under the M&T Credit Agreement are non-recourse to the assets of the Company or its subsidiaries other than the assets of Freightcar Leasing Borrower and Freightcar Leasing Guarantor. The M&T Credit Agreement had a term ending on April 16, 2021 (the “Term End”). Loans outstanding thereunder will bear interest, accrued daily, at the Adjusted LIBOR Rate (as defined in the M&T Credit Agreement) or the Adjusted Base Rate (as defined in the M&T Credit Agreement). The M&T Credit Agreement has both affirmative and negative covenants, including, without limitation, maintaining an Interest Coverage Ratio (as defined in the M&T Credit Agreement) of not less than 1.25 :1.00, measured quarterly, and limitations on indebtedness, loans, liens and investments. The M&T Credit Agreement also provides for customary events of default. As of June 30, 2021 and December 31, 2020, FreightCar Leasing Borrower had $ 10,518 and $ 10,105 , respectively, in outstanding debt under the M&T Credit Agreement, which was collateralized by leased railcars with a carrying value of $ 6,889 and $ 6,975 , respectively. As of June 30, 2021, the interest rate on outstanding debt under the M&T Credit Agreement was 4.18 %. On August 7, 2020, FreightCar Leasing Borrower received notice (the “First Notice”) from M&T that, based on an appraisal (the “Appraisal”) conducted by a third party at the request of M&T with respect to the railcars in FreightCar Leasing Borrower’s Borrowing Base (as defined in the M&T Credit Agreement) under the M&T Credit Agreement, the unpaid principal balance under the M&T Credit Agreement exceeded the availability under the M&T Credit Agreement as of the date of the Appraisal by $ 5,081 (the “Payment Demand Amount”). In the First Notice, M&T Bank: (a) asserted that an Event of Default under the M&T Credit Agreement has occurred because FreightCar Leasing Borrower did not pay the Payment Demand Amount to M&T within five days of the asserted change in availability; (b) demanded payment of the amount within five days of the date of the First Notice; and (c) terminated the commitment to advance additional loans under the M&T Credit Agreement. On December 18, 2020, FreightCar Leasing Borrower received a revised notice (the “Second Notice,” and together with the First Notice, the “Notices”) from M&T asserting that: (a) as a result of the continuing Event of Default that M&T alleged to have occurred under the M&T Credit Agreement, M&T has declared a default and accelerated and demands immediate payment by FreightCar Leasing Borrower of $ 10,114 (the “Outstanding Amount”); (b) FreightCar Leasing Borrower is liable for all interest that continues to accrue on the Outstanding Amount; and (c) FreightCar Leasing Borrower is liable for all attorneys’ fees, costs and expenses as set forth in the M&T Credit Agreement. On April 20, 2021, FreightCar Leasing Borrower received a notice from M&T that an Event of Default had occurred due to all amounts outstanding under the M&T Credit Agreement having not be paid by the Term End. FreightCar Leasing Borrower has resumed discussions with M&T during the quarter ended June 30, 2021 regarding the Event of Default. Long-term debt consists of the following as of June 30, 2021 and December 31, 2020: June 30, December 31, 2021 2020 M&T Credit Agreement outstanding $ 10,518 $ 10,105 SBA Payroll Protection Program Loan outstanding 10,000 10,000 Siena Loan Agreement outstanding 2,613 6,874 Term Loan Credit Agreement outstanding 56,552 40,000 Total debt 79,683 66,979 Less Term Loan Credit Agreement discount ( 7,984 ) ( 8,892 ) Less Term Loan Credit Agreement deferred financing costs ( 2,994 ) ( 2,814 ) Total debt, net of discount and deferred financing costs 68,705 55,273 Less amounts due within one year ( 20,518 ) ( 17,605 ) Long-term debt, net of current portion $ 48,187 $ 37,668 The fair value of long-term debt approximates its carrying value as of June 30, 2021 and December 31, 2020.

Accumulated Other Comprehensive

Accumulated Other Comprehensive Loss	6 Months Ended
	Jun. 30, 2021
Accumulated Other Comprehensive Loss [Abstract]
Accumulated Other Comprehensive Loss	Note 9 – Accumulated Other Comprehensive Loss The changes in accumulated other comprehensive loss consist of the following: Pre-Tax Tax After-Tax Three months ended June 30, 2021 Pension liability activity: Reclassification adjustment for amortization of net loss (pre-tax other income) $ 156 $ - $ 156 Pre-Tax Tax After-Tax Three months ended June 30, 2020 Pension liability activity: Reclassification adjustment for amortization of net loss (pre-tax other $ 140 $ - $ 140 Pre-Tax Tax After-Tax Six months ended June 30, 2021 Pension liability activity: Reclassification adjustment for amortization of net loss (pre-tax other income) $ 312 $ - $ 312 Pre-Tax Tax After-Tax Six months ended June 30, 2020 Pension liability activity: Reclassification adjustment for amortization of net loss (pre-tax other income (expense)) $ 281 $ - $ 281 The components of accumulated other comprehensive loss consist of the following: June 30, December 31, 2021 2020 Unrecognized pension cost, net of tax of $ 6,282 and $ 6,282 , respectively $ ( 11,451 ) $ ( 11,763 )

Stock-Based Compensation

Stock-Based Compensation	6 Months Ended
	Jun. 30, 2021
Stock-Based Compensation [Abstract]
Stock-Based Compensation	Note 10 – Stock-Based Compensation Total stock-based compensation was $ 300 and $( 156 ) for the three months ended June 30, 2021 and 2020, respectively, and $ 2,961 and $ 94 for the six months ended June 30, 2021 and 2020, respectively. As of June 30, 2021, there was $ 1,132 of unearned compensation expense related to restricted stock awards, which will be recognized over the remaining weighed average requisite service period of 23 months . As of June 20, 2021, there was $ 1,287 of unearned compensation related to time-vested stock options, which will be recognized over the remaining requisite service period of 31 months . 2020 Grants of Stock Appreciation Rights During 2020, the Company granted 1,139,464 cash settled stock appreciation rights to certain employees. Each stock appreciation right represents the right to receive a payment measured by the increase in the fair market value of one share of the Company’s stock from the date of grant of the stock appreciation right to the date of exercise of the stock appreciation right. The cash settled stock appreciation rights vest ratably over three years and have a contractual life of 10 years . Cash settled stock appreciation rights are classified as liabilities. The Company measures the fair value of unvested cash settled stock appreciation rights using the Black-Scholes option valuation model and remeasures the fair value of the award each reporting period until the award is vested. Once vested the Company immediately recognizes compensation cost for any changes in fair value of cash settled stock appreciation rights until settlement. Fair value of vested cash settled stock appreciation rights represents the fair market value of one share of the Company’s stock on the measurement date less the exercise price per share. Compensation cost for cash settled stock appreciation rights is trued up each reporting period for changes in fair value pro-rated for the portion of the requisite service period rendered. 2021 Grants of Stock Appreciation Rights During the six months ended June 30, 2021, the Company granted 1,735,500 cash settled stock appreciation rights to certain employees. Each of the 2021 cash settled stock appreciation rights allows the holder to receive, upon exercise, and subject to the vesting restrictions, a distribution in cash equal to the excess of the fair market value of a share of the Company’s stock on the date of exercise over the exercise price. The 2021 cash settled stock appreciation rights vest ratably over three years and have a contractual life of 10 years . Vesting of the 2021 cash settled stock appreciation rights is contingent upon the achievement of a thirty-day trailing average fair market value of a share of the Company’s common stock of 133.3% ($3.17) or more of the exercise price per share ($ 2.38 ). When vesting of an award of stock-based compensation is dependent upon the attainment of a target stock price, the award is considered to be subject to a market condition. The 2021 cash settled stock appreciation rights are classified as liabilities. Because vesting of the 2021 cash settled stock appreciation rights included a market condition, the grant date fair market value of the 2021 cash settled stock appreciation rights of $ 1.74 was calculated using a Monte Carlo simulation model. During the three months ended March 31, 2021, the market condition for the 2021 cash settled stock appreciation rights was met. Thereafter the Company measures the fair value of the 2021 cash settled stock appreciation rights using the Black-Scholes option valuation model and remeasures the fair value of the award each reporting period until the award is vested. Once vested, the Company immediately recognizes compensation cost for any changes in fair value of the 2021 cash settled stock appreciation rights until settlement. Fair value of vested 2021 cash settled stock appreciation rights represents the fair market value of one share of the Company’s stock on the measurement date less the exercise price per share. Compensation cost for the 2021 cash settled stock appreciation rights is trued up each reporting period for changes in fair value pro-rated for the portion of the requisite service period rendered. The estimated fair value of the cash settled stock appreciation rights as of June 30, 2021 was $ 10,650 . Stock-based compensation for cash settled stock appreciation rights was $ 127 and $ 48 for the three months ended June 30, 2021 and 2020, respectively, and $ 2,679 and $ 69 for the six months ended June 30, 2021 and 2020, respectively. The fair value of unvested cash settled stock appreciation rights as of June 30, 2021 was estimated using the Black-Scholes option valuation model with the following assumptions: Expected Risk Free Expected Dividend Interest Fair Value Grant Year Grant Date Expected Life Volatility Yield Rate Per Award 2020 1/24/2020 4.8 years 78.14 % 0.00 % 0.83 % $ 4.88 2020 9/14/2020 5.2 years 76.23 % 0.00 % 0.89 % $ 4.74 2020 11/30/2020 5.4 years 75.69 % 0.00 % 0.92 % $ 4.57 2021 1/5/2021 5.5 years 75.48 % 0.00 % 0.93 % $ 4.65

Employee Benefit Plans

Employee Benefit Plans	6 Months Ended
	Jun. 30, 2021
Employee Benefit Plans [Abstract]
Employee Benefit Plans	Note 11 – Employee Benefit Plans The Company has a qualified, defined benefit pension plan that was established to provide benefits to certain employees. The plan is frozen and participants are no longer accruing benefits. Generally, contributions to the plan are not less than the minimum amounts required under the Employee Retirement Income Security Act of 1974, as amended (“ERISA”), and not more than the maximum amount that can be deducted for federal income tax purposes. The plan assets are held by an independent trustee and consist primarily of equity and fixed income securities. The components of net periodic benefit cost (benefit) for the three and six months ended June 30, 2021 and 2020, are as follows: Three Months Ended Six Months Ended June 30, June 30, Pension Benefits 2021 2020 2021 2020 Interest cost $ 236 $ 358 $ 472 $ 716 Expected return on plan assets ( 584 ) ( 609 ) ( 1,168 ) ( 1,218 ) Amortization of unrecognized net loss 156 140 312 280 $ ( 192 ) $ ( 111 ) $ ( 384 ) $ ( 222 ) The Company made no contributions to the Company’s defined benefit pension plan for the three and six months ended June 30, 2021 and 2020. The Company expects to make no contributions to its pension plan in 2021. The Company also maintains qualified defined contribution plans, which provide benefits to employees based on employee contributions and employee earnings with discretionary contributions allowed.

Contingencies and Legal Settlem

Contingencies and Legal Settlements	6 Months Ended
	Jun. 30, 2021
Contingencies and Legal Settlements [Abstract]
Contingencies and Legal Settlements	Note 12 – Contingencies and Legal Settlements 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. The Company received cash payments of $ 15,733 and $ 1,410 during 2015 and 2017, respectively, for Alabama state and local incentives related to its capital investment and employment levels at the Shoals Facility. Under the incentive agreements a certain portion of the incentives may be repayable by the Company if targeted levels of employment are not maintained for a period of up to six years from the date of the incentive. In April 2021, the Company received a letter from representatives of the Shoals Economic Development Authority (“SEDA”) regarding repayment of local incentives. The Company has contested the amounts claimed by SEDA with respect to an initial portion of such local incentives and views this notice as premature as to the remaining portion of such local incentives, as the Company believes that any repayment obligations have not yet arisen with respect thereto under the terms of the incentive agreements. In the event that any portion of the incentives is required to be paid back, the Company believes the amount is unlikely to exceed the deferred liability balance of $ 3,613 as of June 30, 2021. As part of a settlement agreement reached with one of its customers during 2019, the Company agreed to pay $ 7,500 to settle all claims related to a prior year’s commercial dispute. During the years ended December 31, 2020 and 2019, the Company paid $ 1,000 and $ 3,500 , respectively, of the settlement amount. During the six months ended June 30, 2021, the Company paid $ 1,000 of the settlement amount and the remaining $ 2,000 will be paid over a period of 12 months or on an accelerated basis in the event both parties agree to accelerate delivery of railcars currently in the backlog. 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 reserved $ 0.5 million to cover probable and estimable liabilities with respect to these matters.

Loss Per Share

Loss Per Share	6 Months Ended
	Jun. 30, 2021
Loss Per Share [Abstract]
Loss Per Share	Note 13 – Loss Per Share The weighted-average common shares outstanding are as follows: Three Months Ended Six Months Ended 2021 2020 2021 2020 Weighted average common shares outstanding 14,863,069 12,405,011 14,783,459 12,385,946 Issuance of warrants 5,297,341 - 5,300,740 Weighted average common shares outstanding - basic 20,160,410 12,405,011 20,084,199 12,385,946 Dilutive effect of employee stock options and nonvested share awards - - - - Weighted average common shares outstanding - diluted 20,160,410 12,405,011 20,084,199 12,385,946 The Company computes earnings per share using the two-class method, which is an earnings allocation formula that determines earnings per share for common stock and participating securities. The Company’s participating securities are its grants of restricted stock which contain non-forfeitable rights to dividends. The Company allocates earnings between both classes; however, in periods of undistributed losses, they are only allocated to common shares as the unvested restricted stockholders do not contractually participate in losses of the Company. The Company computes basic earnings per share by dividing net income allocated to common shareholders by the weighted average number of shares outstanding during the period. Warrants issued in connection with the Company's long-term debt were issued at a nominal exercise price and are considered outstanding at the date of issuance. Diluted earnings per share is calculated to give effect to all potentially dilutive common shares that were outstanding during the period. Weighted average diluted common shares outstanding include the incremental shares that would be issued upon the assumed exercise of stock options and the assumed vesting of nonvested share awards. For the three months ended June 30, 2021 and 2020, 1,329,429 and 1,107,304 shares, respectively, were not included in the weighted average common shares outstanding calculation as they were anti-dilutive. For the six months ended June 30, 2021and 2020, 1,531,864 and 1,076,577 shares, respectively, were not included in the weighted average common shares outstanding calculation as they were anti-dilutive.

Restructuring and Impairment Ch

Restructuring and Impairment Charges	6 Months Ended
	Jun. 30, 2021
Restructuring and Impairment Charges [Abstract]
Restructuring and Impairment Charges	Note 14 – Restructuring and Impairment Charges On September 10, 2020, the Company announced its plan to permanently close its Shoals Facility in light of the ongoing cyclical industry downturn, which has been magnified by the COVID-19 pandemic. On October 8, 2020, the Company reached an agreement with the Shoals facility owner and landlord, to shorten the Shoals lease term by amending the expiration date to the end of February 2021. In addition, the landlord agreed to waive the base rent payable under the original lease for the months of October 2020 through February 2021. Property, plant and equipment with an estimated fair value of $ 10,148 was sold or transferred to the Shoals landlord during the six months ended June 30, 2021 as consideration for the landlord’s entry into the lease amendment and the aforementioned rent waiver. Restructuring and impairment charges related to the plant closure for the six months ended June 30, 2021 primarily represented costs related to relocating some of the facility’s equipment to Castaños. On July 22, 2019, the Company announced its intention to close its Roanoke, Virginia manufacturing facility as part of its “Back to Basics” strategy. The Company ceased operations at the facility as of November 29, 2019 and terminated its leases for the facility effective as of March 31, 2020. Restructuring and impairment charges related to the plant closure for the six months ended June 30, 2020 primarily represented impairment charges for property, plant and equipment and costs related to relocating some of the facility’s equipment to other manufacturing locations. Restructuring and impairment charges are reported as a separate line item on the Company’s condensed consolidated statements of operations for the three and six months ended June 30, 2021 and 2020, and are detailed below: Three Months Ended Six Months Ended June 30, June 30, 2021 2020 2021 2020 Impairment and loss on disposal of machinery and equipment $ - $ - $ 1,591 $ 438 Employee severance and retention ( 24 ) 1 ( 5 ) ( 3 ) Other charges related to facility closure ( 96 ) 266 4,944 712 Total restructuring and impairment costs $ ( 120 ) $ 267 $ 6,530 $ 1,147 Accrued as of December 31, 2020 Cash Non-cash charges Cash payments Accrued as of June 30, 2021 Impairment and loss on disposal of machinery and $ - $ - $ 269 $ - $ - Employee severance and retention 1,596 - ( 80 ) ( 1,238 ) 278 Other charges related to facility closure 251 6,437 ( 96 ) ( 6,688 ) - Total restructuring and impairment costs $ 1,847 $ 6,437 $ 93 $ ( 7,926 ) $ 278 Accrued as of December 31, 2019 Cash Non-cash charges Cash payments Accrued as of June 30, 2020 Loss on disposal of machinery and equipment $ - $ - $ 438 $ - $ - Employee severance and retention 647 ( 4 ) - ( 636 ) 7 Other charges related to facility closure 359 798 ( 86 ) ( 1,097 ) 60 Total restructuring and impairment costs $ 1,006 $ 794 $ 352 $ ( 1,733 ) $ 67

Related Parties

Related Parties	6 Months Ended
	Jun. 30, 2021
Related Parties [Abstract]
Related Parties	Note 15 – Related Parties The following persons are owners of Fasemex: Jesus Gil, VP Operations and director of the Company; and Alejandro Gil, sibling of Jesus Gil. Fasemex provides steel fabrication services to the Company and is the lessor for the Company’s leased facility in Castaños. The Company paid $ 13.4 million and $ 18.1 million to Fasemex during the three and six months ended June 30, 2021, respectively, related to rent payment, security deposit, fabrication services and royalty payments. Distribuciones Industrials JAS S.A. de C.V. (“Distribuciones Industrials”) is owned by Alejandro Gil, sibling of Jesus Gil, and Salvador Gil, an immediate family member of Jesus and Alejandro Gil. The Company paid $ 0.5 million and $ 0.9 million to Distribuciones Industrials related to material and safety supplies during the three and six months ended June 30, 2021, respectively. Maquinaria y equipo de transporte Jova S.A. de C.V 0.3 million and $ 0.4 million to Maquinaria y equipo de transporte Jova S.A. de C.V related to trucking services during the three and six months ended June 30, 2021, respectively. The Company paid $ 0.5 million to the Warrantholder in relation to the Amendment described in Note 8 Debt Financing and Revolving Credit Facilities during the three and six months ended June 30, 2021. The Company paid $ 1.4 and $ 2.6 million to the Warrantholder during the three and six months ended June 30, 2021, respectively, for term loan interest.

Subsequent Events

Subsequent Events	6 Months Ended
	Jun. 30, 2021
Subsequent Events [Abstract]
Subsequent Events	Note 16 – Subsequent Events SBA Paycheck Protection Program Loan On July 14, 2021, the Company received a notification from BMO Harris Bank N.A. that the Small Business Administration approved the Company’s PPP Loan forgiveness application for the entire $ 10,000 balance, together with interest accrued thereon, of the PPP Loan and that the remaining balance of the PPP Loan was zero as of June 14, 2021. Since loan forgiveness was approved subsequent to June 30, 2021 the $ 10,000 balance of the PPP Loan is included in the current portion of long-term debt on the Company's condensed consolidated balance sheet as of June 30, 2021. The Company will recognize PPP Loan forgiveness during the third quarter of 2021. Amendment No. 3 to Term Loan Credit Agreement On July 30, 2021, FreightCar North America, LLC (“Borrower” and together with the Company and certain other subsidiary guarantors, collectively, the “Loan Parties”) entered into an Amendment No. 3 to Credit Agreement (the “Third Amendment” and together with the Credit Agreement, as amended, the “Term Loan Credit Agreement”) with CO Finance LVS VI LLC, as lender and letter of credit provider (the “Lender”), an affiliate of a corporate credit fund, and U.S. Bank National Association, as disbursing agent and collateral agent (the “Agent”), pursuant to which, among other things, Lender obtained a standby letter of credit (as may be amended from time to time, the “Third Amendment Letter of Credit”) from Wells Fargo Bank, N.A., in the principal amount of $ 25,000 for the account of the Company and for the benefit of Siena Lending Group LLC (the “Revolving Loan Lender”). Reimbursement Agreement Pursuant to the Third Amendment, on July 30, 2021, the Company, the Lender, Alter Domus (US) LLC, as calculation agent, and the Agent entered into a reimbursement agreement (the “Reimbursement Agreement”), pursuant to which, among other things, the Company agreed to reimburse the Agent, for the account of the Lender, in the event of any drawings under the Third Amendment Letter of Credit by the Revolving Loan Lender. In addition, pursuant to the Reimbursement Agreement, the Company shall make certain other payments as set forth below, so long as the Third Amendment Letter of Credit remains outstanding: Letter of Credit Fee The Company shall pay to Agent, for the account of Lender, an annual fee of $ 500 , which shall be due and payable quarterly beginning on August 2, 2021, and every three months thereafter. Equity Fee Every three months (the “Measurement Period”), commencing on August 6, 2021, the Company shall pay to the Lender (or, so long as Lender is the sole provider of the Third Amendment Letter of Credit, to OC III LVS XII LP, if Lender has timely notified the Company in writing of such designation) a fee (the “Equity Fee”) payable in shares of common stock, par value $ 0.01 per share, of the Company (the “Common Stock”). The Equity Fee shall be calculated by dividing $ 1,000 by the volume weighted average price of the Company’s Common Stock on the Nasdaq Capital Market for the ten (10) trading days ending on the last business day of the applicable Measurement Period. The Company can opt to pay the Equity Fee in cash, in the amount of $ 1,000 , if, and only if, (x) the Company has already issued as Equity Fees a number of shares of its Common Stock equal to (I) 5.0 % multiplied by (II) the total number of shares of Common Stock outstanding as of July 30, 2021, rounded down to the nearest whole share of Common Stock, and (y) the Company has at least $ 15,000 of Repayment Liquidity after giving effect to such payment. The term Repayment Liquidity, as defined in the Term Loan Credit Agreement, means (a) all unrestricted and unencumbered cash and cash equivalents of the Loan Parties, plus (b) the undrawn and available portion of the commitments under that certain Amended and Restated Loan and Security Agreement by and among the Loan Parties and the Revolving Loan Lender (as described below), minus (c) all accounts payable of the Loan Parties that are more than 30 days past due. The Equity Fee shall no longer be paid once the Company has issued to Lender and/or OC III LVS XII LP Equity Fees in an amount of Common Stock equal to 9.99 % multiplied by the total number of shares of Common Stock outstanding as of July 30, 2021, rounded down to the nearest whole share of Common Stock (the “Maximum Equity”). The issuance of each Equity Fee under the Reimbursement Agreement will be made in reliance on the exemption from registration contained in Section 4(a)(2) of the Securities Act for offers and sales of securities that do not involve a “public offering.” Cash Fee The Company shall pay to the Agent, for the account of the Lender (or, so long as the Lender is the sole provider of the Third Amendment Letter of Credit, to OC III LVS XII LP, if the Lender has timely notified the Company in writing of such designation) a cash fee (the “Cash Fee”) which shall be due and payable in cash quarterly beginning on the date that the Maximum Equity has been issued and thereafter on the business day immediately succeeding the last business day of the applicable Measurement Period. The Cash Fee shall be equal to $ 1,000 , provided that, in the quarter in which the Maximum Equity is issued, such fee shall be equitably reduced by the value of any Equity Fee issued by the Company that quarter. Siena Loan and Security Agreement As previously reported, on October 8, 2020, the Loan Parties entered into a Loan and Security Agreement (the “Siena Loan Agreement”) with the Revolving Loan Lender. Pursuant to the Siena Loan Agreement, the Revolving Loan Lender provided an asset backed credit facility, in the maximum aggregate principal amount of up to $ 20.0 million (the “Maximum Revolving Facility Amount”), consisting of revolving loans (the “Revolving Loans”). In connection with the Third Amendment, on July 30, 2021, the Loan Parties and the Revolving Loan Lender entered into an Amended and Restated Loan and Security Agreement (the “Amended and Restated Loan and Security Agreement”), which amended and restated the terms and conditions of the Siena Loan Agreement in its entirety. Pursuant to the Amended and Restated Loan and Security Agreement, the Maximum Revolving Facility Amount was increased to $ 25.0 million, provided, however, that the outstanding balance of all Revolving Loans may not exceed the lesser of (A) the Maximum Revolving Facility Amount minus the Availability Block and (B) an amount equal to the issued and undrawn portion of the Third Amendment Letter of Credit (as defined above) minus the Availability Block. The term “Availability Block”, as defined in the Amended and Restated Loan and Security Agreement, means 3.0 % of the issued and undrawn amount under the Third Amendment Letter of Credit. Revolving Loans outstanding under the Amended and Restated Loan and Security Agreement bear interest, subject to the provisions of the Amended and Restated Loan and Security Agreement, at an interest rate of 2 % per annum in excess of the Base Rate (as defined in the Siena Loan Agreement).

Revision of Prior Period Financ

Revision of Prior Period Financial Statements	6 Months Ended
	Jun. 30, 2021
Accounting Changes and Error Corrections [Abstract]
Revision of Prior Period Financial Statements	Note 17 – Revision of Prior Period Financial Statements In preparing its financial statements for the three months ended June 30, 2021, the Company discovered certain errors related to accounting for inventory transactions for the three months ended March 31, 2021. In accordance with SEC Staff Accounting Bulletin Nos. 99 and 108 (“SAB 99 and SAB 108”), the Company evaluated these errors and determined that they were immaterial to the reporting period affected and, therefore, an amendment to the previously filed report was not required. However, if the adjustments to correct the cumulative errors had been recorded in the second quarter of 2021, the Company believes the impact would have been significant to the period and would impact comparisons to prior periods. As permitted by SAB 108, the Company revised its comparative consolidated financial statements for these immaterial amounts and has included the revised comparative consolidated financial statements in this Quarterly Report on Form 10-Q. Three Months Ended March 31, 2021 As Reported Adjustments As Revised Revenues $ 32,370 $ 32,370 Cost of sales 30,566 ( 786 ) 29,780 Gross profit (loss) 1,804 786 2,590 Selling, general and administrative expenses 9,151 9,151 Restructuring and impairment charges 6,650 6,650 Operating loss ( 13,997 ) 786 ( 13,211 ) Interest expense ( 2,502 ) ( 2,502 ) Gain (loss) on change in fair market value of warrant liability ( 22,128 ) ( 22,128 ) Other income 115 115 Loss before income taxes ( 38,512 ) 786 ( 37,726 ) Income tax (benefit) provision ( 133 ) 265 132 Net loss ( 38,379 ) 521 ( 37,858 ) Less: Net loss attributable to noncontrolling interest in JV - - - Net loss attributable to FreightCar America $ ( 38,379 ) $ 521 $ ( 37,858 ) Net loss per common share attributable to FreightCar America- basic $ ( 1.92 ) $ 0.03 $ ( 1.89 ) Net loss per common share attributable to FreightCar America- diluted $ ( 1.92 ) $ 0.03 $ ( 1.89 ) Weighted average common shares outstanding – basic 20,001,505 20,001,505 Weighted average common shares outstanding – diluted 20,001,505 20,001,505 As of March 31, 2021 As Reported Adjustments As Revised Inventories, net $ 37,054 $ ( 1,405 ) $ 35,649 Prepaid expenses 8,998 1,926 10,924 Total current assets 97,223 521 97,744 Total assets 158,070 521 158,591 Accumulated deficit ( 76,998 ) 521 ( 76,477 ) Total stockholders' equity deficit ( 7,707 ) 521 ( 7,186 ) Total liabilities and stockholders' equity 158,070 521 158,591 Three Months Ended March 31, 2021 As Reported Adjustments As Revised Cash flows from operating activities: Net Loss ( 38,379 ) 521 ( 37,858 ) Inventories 3,419 1,405 4,824 Other assets ( 5,133 ) ( 2,191 ) ( 7,324 ) Income taxes receivable/payable ( 134 ) 265 131 Net cash used in operating activities ( 22,276 ) — ( 22,276 )

Basis of Presentation (Policy)

Basis of Presentation (Policy)	6 Months Ended
	Jun. 30, 2021
Basis of Presentation [Abstract]
Basis of Presentation	The accompanying condensed consolidated financial statements include the accounts of FreightCar America, Inc. and its subsidiaries. All intercompany accounts and transactions have been eliminated in consolidation. The foregoing financial information has been prepared in accordance with the accounting principles generally accepted in the United States of America (“GAAP”) and rules and regulations of the U.S. Securities and Exchange Commission (the “SEC”) for interim financial reporting. The preparation of the financial statements in accordance with GAAP requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. Actual results could differ from these estimates. The results of operations for the three and six months ended June 30, 2021 are not necessarily indicative of the results to be expected for the full year. The accompanying interim financial information is unaudited; however, the Company believes the financial information reflects all adjustments (consisting of items of a normal recurring nature) necessary for a fair presentation of financial position, results of operations and cash flows in conformity with GAAP. The 2020 year-end balance sheet data was derived from the audited financial statements as of December 31, 2020. Certain information and note disclosures normally included in the Company’s annual financial statements prepared in accordance with GAAP have been condensed or omitted. These interim financial statements should be read in conjunction with the audited financial statements contained in the Company’s annual report on Form 10-K for the year ended December 31, 2020.

Revenue Recognition (Tables)

Revenue Recognition (Tables)	6 Months Ended
	Jun. 30, 2021
Revenue Recognition [Abstract]
Schedule of Revenue Recognition	The following table disaggregates the Company’s revenues by major source: Three Months Ended Six Months Ended June 30, June 30, 2021 2020 2021 2020 Railcar sales $ 34,371 $ 13,746 $ 63,300 $ 15,272 Parts sales 2,168 2,297 4,496 4,510 Other sales — 1 38 1 Revenues from contracts with customers 36,539 16,044 67,834 19,783 Leasing revenues 815 1,414 1,890 2,872 Total revenues $ 37,354 $ 17,458 $ 69,724 $ 22,655

Segment Information (Tables)

Segment Information (Tables)	6 Months Ended
	Jun. 30, 2021
Segment Information [Abstract]
Schedule of Segment Reporting Information, by Segment	Three Months Ended Six Months Ended June 30, June 30, 2021 2020 2021 2020 Revenues: Manufacturing $ 35,158 $ 15,129 $ 65,177 $ 18,069 Corporate and Other 2,196 2,329 4,547 4,586 Consolidated revenues $ 37,354 $ 17,458 $ 69,724 $ 22,655 Operating income (loss): Manufacturing (1) $ 1,878 $ ( 8,348 ) $ ( 2,866 ) $ ( 20,148 ) Corporate and Other ( 4,414 ) ( 4,600 ) ( 12,881 ) ( 9,893 ) Consolidated operating loss ( 2,536 ) ( 12,948 ) ( 15,747 ) ( 30,041 ) Consolidated interest expense ( 3,212 ) ( 167 ) ( 5,714 ) ( 463 ) Gain (loss) on change in fair market value of warrant liability 3,452 - ( 18,676 ) - Consolidated other income 230 134 345 358 Consolidated loss before income taxes $ ( 2,066 ) $ ( 12,981 ) $ ( 39,792 ) $ ( 30,146 ) Depreciation and amortization: Manufacturing $ 854 $ 2,688 $ 1,921 $ 5,483 Corporate and Other 145 183 275 401 Consolidated depreciation and amortization $ 999 $ 2,871 $ 2,196 $ 5,884 Capital expenditures: Manufacturing $ 697 $ 3,033 $ 1,042 $ 5,953 Corporate and Other 194 305 391 1,056 Consolidated capital expenditures $ 891 $ 3,338 $ 1,433 $ 7,009 (1) Results for the three months and six months ended June 30, 2021 include restructuring and impairment charges of ($ 120 ) and $ 6,530 , respectively. Results for the three months and six months ended June 30, 2020 include restructuring and impairment charges of $ 267 and $ 1,147 , respectively.
Reconciliation of Assets From Segment to Consolidated	June 30, December 31, 2021 2020 Assets: Manufacturing $ 133,342 $ 114,669 Corporate and Other 36,344 68,046 Total operating assets 169,686 182,715 Consolidated income taxes receivable 372 27 Consolidated assets $ 170,058 $ 182,742
Geographic Information	Geographic Information Revenues Long Lived Assets(a) Three Months Ended Six Months Ended June 30, June 30, June 30, December 31, 2021 2020 2021 2020 2021 2020 United States $ 37,354 $ 17,458 $ 69,724 $ 22,655 $ 26,255 $ 48,126 Mexico - - - - 31,433 20,984 Total $ 37,354 $ 17,458 $ 69,724 $ 22,655 $ 57,688 $ 69,110 (a) Long lived assets include property plant and equipment, net, railcars available for lease, and ROU assets.

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	6 Months Ended
	Jun. 30, 2021
Fair Value Measurements [Abstract]
Fair Value, Assets Measured on Recurring Basis	Recurring Fair Value Measurements As of June 30, 2021 Level 1 Level 2 Level 3 Total Assets: Cash equivalents $ 3,881 $ - $ - $ 3,881 Liabilities: Warrant liability $ - $ 31,406 $ - $ 31,406 Recurring Fair Value Measurements As of December 31, 2020 Level 1 Level 2 Level 3 Total Assets: Cash equivalents $ 7,993 $ - $ - $ 7,993 Restricted certificates of deposit $ 182 $ - $ - $ 182 Liabilities: Warrant liability $ - $ 12,730 $ - $ 12,730 Non-recurring Fair Value Measurements During the Year-Ended December 31, 2020 Level 1 Level 2 Level 3 Total Assets: Assets held for sale $ - $ - $ 10,383 $ 10,383 Right of use assets $ - $ - $ 28,960 $ 28,960 Property, plant and equipment, net $ - $ - $ 11,515 $ 11,515 Railcars available for lease, net $ - $ - $ 13,175 $ 13,175

Restricted Cash (Tables)

Restricted Cash (Tables)	6 Months Ended
	Jun. 30, 2021
Restricted Cash [Abstract]
Restricted Cash	The Company’s restricted cash balances are as follows: June 30, December 31, 2021 2020 Restricted cash from customer deposit $ 281 $ 3,204 Restricted cash to collateralize standby letters of credit 3,193 3,396 Restricted cash equivalents to collateralize standby letters of credit 3,542 3,855 Restricted cash equivalents - other 181 - Total restricted cash $ 7,197 $ 10,455

Inventories (Tables)

Inventories (Tables)	6 Months Ended
	Jun. 30, 2021
Inventories [Abstract]
Schedule of Inventory Current	Inventories, net of reserve for excess and obsolete items, consist of the following: June 30, December 31, 2021 2020 Work in process $ 44,080 $ 34,355 Parts inventory 4,703 4,476 Total inventories, net $ 48,783 $ 38,831

Debt Financing and Revolving _2

Debt Financing and Revolving Credit Facilities (Tables)	6 Months Ended
	Jun. 30, 2021
Debt Financing and Revolving Credit Facilities [Abstract]
Fair Value of Warrant	The following schedule shows the change in fair value of the Warrant as of June 30, 2021. Warrant liability as of December 31, 2020 $ 12,730 Change in fair value 18,676 Warrant liability as of June 30, 2021 $ 31,406
Long-Term Debt	Long-term debt consists of the following as of June 30, 2021 and December 31, 2020: June 30, December 31, 2021 2020 M&T Credit Agreement outstanding $ 10,518 $ 10,105 SBA Payroll Protection Program Loan outstanding 10,000 10,000 Siena Loan Agreement outstanding 2,613 6,874 Term Loan Credit Agreement outstanding 56,552 40,000 Total debt 79,683 66,979 Less Term Loan Credit Agreement discount ( 7,984 ) ( 8,892 ) Less Term Loan Credit Agreement deferred financing costs ( 2,994 ) ( 2,814 ) Total debt, net of discount and deferred financing costs 68,705 55,273 Less amounts due within one year ( 20,518 ) ( 17,605 ) Long-term debt, net of current portion $ 48,187 $ 37,668

Accumulated Other Comprehensi_2

Accumulated Other Comprehensive Loss (Tables)	6 Months Ended
	Jun. 30, 2021
Accumulated Other Comprehensive Loss [Abstract]
Schedule of Changes in Accumulated Other Comprehensive Income (Loss)	The changes in accumulated other comprehensive loss consist of the following: Pre-Tax Tax After-Tax Three months ended June 30, 2021 Pension liability activity: Reclassification adjustment for amortization of net loss (pre-tax other income) $ 156 $ - $ 156 Pre-Tax Tax After-Tax Three months ended June 30, 2020 Pension liability activity: Reclassification adjustment for amortization of net loss (pre-tax other $ 140 $ - $ 140 Pre-Tax Tax After-Tax Six months ended June 30, 2021 Pension liability activity: Reclassification adjustment for amortization of net loss (pre-tax other income) $ 312 $ - $ 312 Pre-Tax Tax After-Tax Six months ended June 30, 2020 Pension liability activity: Reclassification adjustment for amortization of net loss (pre-tax other income (expense)) $ 281 $ - $ 281
Components of Accumulated Other Comprehensive Income (Loss)	The components of accumulated other comprehensive loss consist of the following: June 30, December 31, 2021 2020 Unrecognized pension cost, net of tax of $ 6,282 and $ 6,282 , respectively $ ( 11,451 ) $ ( 11,763 )

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	6 Months Ended
	Jun. 30, 2021
Stock-Based Compensation [Abstract]
Valuation Assumptions, Options	The fair value of unvested cash settled stock appreciation rights as of June 30, 2021 was estimated using the Black-Scholes option valuation model with the following assumptions: Expected Risk Free Expected Dividend Interest Fair Value Grant Year Grant Date Expected Life Volatility Yield Rate Per Award 2020 1/24/2020 4.8 years 78.14 % 0.00 % 0.83 % $ 4.88 2020 9/14/2020 5.2 years 76.23 % 0.00 % 0.89 % $ 4.74 2020 11/30/2020 5.4 years 75.69 % 0.00 % 0.92 % $ 4.57 2021 1/5/2021 5.5 years 75.48 % 0.00 % 0.93 % $ 4.65

Employee Benefit Plans (Tables)

Employee Benefit Plans (Tables)	6 Months Ended
	Jun. 30, 2021
Pension Benefits [Member]
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Components of Net Periodic Benefit Cost	The components of net periodic benefit cost (benefit) for the three and six months ended June 30, 2021 and 2020, are as follows: Three Months Ended Six Months Ended June 30, June 30, Pension Benefits 2021 2020 2021 2020 Interest cost $ 236 $ 358 $ 472 $ 716 Expected return on plan assets ( 584 ) ( 609 ) ( 1,168 ) ( 1,218 ) Amortization of unrecognized net loss 156 140 312 280 $ ( 192 ) $ ( 111 ) $ ( 384 ) $ ( 222 )

Disclosure - Loss Per Share (Ta

Disclosure - Loss Per Share (Tables)	6 Months Ended
	Jun. 30, 2021
Loss Per Share [Abstract]
Weighted Average Common Shares Outstanding	The weighted-average common shares outstanding are as follows: Three Months Ended Six Months Ended 2021 2020 2021 2020 Weighted average common shares outstanding 14,863,069 12,405,011 14,783,459 12,385,946 Issuance of warrants 5,297,341 - 5,300,740 Weighted average common shares outstanding - basic 20,160,410 12,405,011 20,084,199 12,385,946 Dilutive effect of employee stock options and nonvested share awards - - - - Weighted average common shares outstanding - diluted 20,160,410 12,405,011 20,084,199 12,385,946

Restructuring and Impairment _2

Restructuring and Impairment Charges (Tables)	6 Months Ended
	Jun. 30, 2021
Restructuring and Impairment Charges [Abstract]
Components of Restructuring and Impairment Charges	Restructuring and impairment charges are reported as a separate line item on the Company’s condensed consolidated statements of operations for the three and six months ended June 30, 2021 and 2020, and are detailed below: Three Months Ended Six Months Ended June 30, June 30, 2021 2020 2021 2020 Impairment and loss on disposal of machinery and equipment $ - $ - $ 1,591 $ 438 Employee severance and retention ( 24 ) 1 ( 5 ) ( 3 ) Other charges related to facility closure ( 96 ) 266 4,944 712 Total restructuring and impairment costs $ ( 120 ) $ 267 $ 6,530 $ 1,147
Schedule of Restructuring Reserve Activity	Accrued as of December 31, 2020 Cash Non-cash charges Cash payments Accrued as of June 30, 2021 Impairment and loss on disposal of machinery and $ - $ - $ 269 $ - $ - Employee severance and retention 1,596 - ( 80 ) ( 1,238 ) 278 Other charges related to facility closure 251 6,437 ( 96 ) ( 6,688 ) - Total restructuring and impairment costs $ 1,847 $ 6,437 $ 93 $ ( 7,926 ) $ 278 Accrued as of December 31, 2019 Cash Non-cash charges Cash payments Accrued as of June 30, 2020 Loss on disposal of machinery and equipment $ - $ - $ 438 $ - $ - Employee severance and retention 647 ( 4 ) - ( 636 ) 7 Other charges related to facility closure 359 798 ( 86 ) ( 1,097 ) 60 Total restructuring and impairment costs $ 1,006 $ 794 $ 352 $ ( 1,733 ) $ 67

Revision of Prior Period Fina_2

Revision of Prior Period Financial Statements (Tables)	6 Months Ended
	Jun. 30, 2021
Accounting Changes and Error Corrections [Abstract]
Schedule of Error Corrections and Prior Period Adjustments	As permitted by SAB 108, the Company revised its comparative consolidated financial statements for these immaterial amounts and has included the revised comparative consolidated financial statements in this Quarterly Report on Form 10-Q. Three Months Ended March 31, 2021 As Reported Adjustments As Revised Revenues $ 32,370 $ 32,370 Cost of sales 30,566 ( 786 ) 29,780 Gross profit (loss) 1,804 786 2,590 Selling, general and administrative expenses 9,151 9,151 Restructuring and impairment charges 6,650 6,650 Operating loss ( 13,997 ) 786 ( 13,211 ) Interest expense ( 2,502 ) ( 2,502 ) Gain (loss) on change in fair market value of warrant liability ( 22,128 ) ( 22,128 ) Other income 115 115 Loss before income taxes ( 38,512 ) 786 ( 37,726 ) Income tax (benefit) provision ( 133 ) 265 132 Net loss ( 38,379 ) 521 ( 37,858 ) Less: Net loss attributable to noncontrolling interest in JV - - - Net loss attributable to FreightCar America $ ( 38,379 ) $ 521 $ ( 37,858 ) Net loss per common share attributable to FreightCar America- basic $ ( 1.92 ) $ 0.03 $ ( 1.89 ) Net loss per common share attributable to FreightCar America- diluted $ ( 1.92 ) $ 0.03 $ ( 1.89 ) Weighted average common shares outstanding – basic 20,001,505 20,001,505 Weighted average common shares outstanding – diluted 20,001,505 20,001,505 As of March 31, 2021 As Reported Adjustments As Revised Inventories, net $ 37,054 $ ( 1,405 ) $ 35,649 Prepaid expenses 8,998 1,926 10,924 Total current assets 97,223 521 97,744 Total assets 158,070 521 158,591 Accumulated deficit ( 76,998 ) 521 ( 76,477 ) Total stockholders' equity deficit ( 7,707 ) 521 ( 7,186 ) Total liabilities and stockholders' equity 158,070 521 158,591 Three Months Ended March 31, 2021 As Reported Adjustments As Revised Cash flows from operating activities: Net Loss ( 38,379 ) 521 ( 37,858 ) Inventories 3,419 1,405 4,824 Other assets ( 5,133 ) ( 2,191 ) ( 7,324 ) Income taxes receivable/payable ( 134 ) 265 131 Net cash used in operating activities ( 22,276 ) — ( 22,276 )

Description of the Business (De

Description of the Business (Details)	3 Months Ended
	Sep. 30, 2020	Oct. 16, 2020
Mexico Joint Venture [Member]
Schedule of Equity Method Investments [Line Items]
Joint Venture Ownership Percentage	50.00%
FCA-Fasemex, LLC [Member]
Schedule of Equity Method Investments [Line Items]
Percent acquired		50.00%

Revenue Recognition (Narrative)

Revenue Recognition (Narrative) (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2021	Dec. 31, 2020
Disaggregation of Revenue [Line Items]
Contract assets	$ 0	$ 445
Deferred revenue and customer deposits	0	$ 6,930
Performance obligation	$ 14,850
Minimum [Member] | Railcar Sales [Member]
Disaggregation of Revenue [Line Items]
Accounts Receivable, Term	5 days
Minimum [Member] | Parts Sales [Member]
Disaggregation of Revenue [Line Items]
Accounts Receivable, Term	30 days
Maximum [Member] | Railcar Sales [Member]
Disaggregation of Revenue [Line Items]
Accounts Receivable, Term	10 days
Maximum [Member] | Parts Sales [Member]
Disaggregation of Revenue [Line Items]
Accounts Receivable, Term	45 days

Revenue Recognition (Schedule O

Revenue Recognition (Schedule Of Revenue Recognition) (Details) - USD ($) $ in Thousands	3 Months Ended			6 Months Ended
	Jun. 30, 2021	Mar. 31, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	$ 36,539		$ 16,044	$ 67,834	$ 19,783
Leasing revenues	815		1,414	1,890	2,872
Total revenues	37,354	$ 32,370	17,458	69,724	22,655
Railcar Sales [Member]
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	34,371		13,746	63,300	15,272
Parts Sales [Member]
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	2,168		2,297	4,496	4,510
Other sales [Member]
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	$ 0		$ 1	$ 38	$ 1

Segment Information (Narrative)

Segment Information (Narrative) (Details)	6 Months Ended
	Jun. 30, 2021Segment
Segment Information [Abstract]
Number of Operating Segments	2
Number of Reportable Segments	1

Segment Information (Schedule o

Segment Information (Schedule of Segment Reporting Information, by Segment) (Details) - USD ($) $ in Thousands	3 Months Ended			6 Months Ended
	Jun. 30, 2021	Mar. 31, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Segment Reporting Information [Line Items]
Revenues	$ 37,354	$ 32,370	$ 17,458	$ 69,724	$ 22,655
Operating income (loss)	(2,536)	(13,211)	(12,948)	(15,747)	(30,041)
Gain (loss) on change in fair market value of warrant liability	3,452	(22,128)	0	(18,676)	0
Consolidated other income	230	115	134	345	358
Loss before income taxes	(2,066)	(37,726)	(12,981)	(39,792)	(30,146)
Restructuring and impairment charges	(120)	$ 6,650	267	6,530	1,147
Manufacturing [Member]
Segment Reporting Information [Line Items]
Restructuring and impairment charges	(120)		267	6,530	1,147
Operating Segments [Member]
Segment Reporting Information [Line Items]
Revenues	37,354		17,458	69,724	22,655
Operating income (loss)	(2,536)		(12,948)	(15,747)	(30,041)
Consolidated interest expense	(3,212)		(167)	(5,714)	(463)
Gain (loss) on change in fair market value of warrant liability	3,452		0	(18,676)	0
Consolidated other income	230		134	345	358
Loss before income taxes	(2,066)		(12,981)	(39,792)	(30,146)
Depreciation and amortization	999		2,871	2,196	5,884
Capital expenditures	891		3,338	1,433	7,009
Operating Segments [Member] | Manufacturing [Member]
Segment Reporting Information [Line Items]
Revenues	35,158		15,129	65,177	18,069
Operating income (loss)	1,878		(8,348)	(2,866)	(20,148)
Depreciation and amortization	854		2,688	1,921	5,483
Capital expenditures	697		3,033	1,042	5,953
Operating Segments [Member] | Corporate and Other [Member]
Segment Reporting Information [Line Items]
Revenues	2,196		2,329	4,547	4,586
Operating income (loss)	(4,414)		(4,600)	(12,881)	(9,893)
Depreciation and amortization	145		183	275	401
Capital expenditures	$ 194		$ 305	$ 391	$ 1,056

Segment Information (Reconcilia

Segment Information (Reconciliation of Assets from Segment to Consolidated) (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Mar. 31, 2021	Dec. 31, 2020
Segment Reporting Information [Line Items]
Total assets	$ 170,058	$ 158,591	$ 182,742
Operating Segments [Member]
Segment Reporting Information [Line Items]
Total operating assets	169,686		182,715
Consolidated income taxes receivable	372		27
Total assets	170,058		182,742
Operating Segments [Member] | Manufacturing [Member]
Segment Reporting Information [Line Items]
Total operating assets	133,342		114,669
Operating Segments [Member] | Corporate and Other [Member]
Segment Reporting Information [Line Items]
Total operating assets	$ 36,344		$ 68,046

Segment Information (Geographic

Segment Information (Geographic Information) (Details) - USD ($) $ in Thousands	3 Months Ended			6 Months Ended
	Jun. 30, 2021	Mar. 31, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020	Dec. 31, 2020
Segment Reporting Information [Line Items]
Revenues	$ 37,354	$ 32,370	$ 17,458	$ 69,724	$ 22,655
Operating Segments [Member]
Segment Reporting Information [Line Items]
Revenues	37,354		17,458	69,724	22,655
Long-Lived Assets	57,688			57,688		$ 69,110
Operating Segments [Member] | United States [Member]
Segment Reporting Information [Line Items]
Revenues	37,354		17,458	69,724	22,655
Long-Lived Assets	26,255			26,255		48,126
Operating Segments [Member] | Mexico [Member]
Segment Reporting Information [Line Items]
Revenues	0		$ 0	0	$ 0
Long-Lived Assets	$ 31,433			$ 31,433		$ 20,984

Fair Value Measurements (Narrat

Fair Value Measurements (Narrative) (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Dec. 31, 2020	Jun. 30, 2021
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Class of Warrant or Right, Exercise Price of Warrants or Rights	$ 0.01	$ 0.01
Impairment and loss on right of use asset	$ 1,999
Impairment Of Leased Railcars	16,952
Fair Value, Nonrecurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Property, plant and equipment, net	$ 11,515
Fair Value, Inputs, Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Class of Warrant or Right, Exercise Price of Warrants or Rights	$ 0.01	$ 0.01
Fair Value, Inputs, Level 2 [Member] | Fair Value, Nonrecurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Property, plant and equipment, net	$ 0
Fair Value, Inputs, Level 3 [Member] | Fair Value, Nonrecurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Property, plant and equipment, net	$ 11,515

Fair Value Measurements (Fair V

Fair Value Measurements (Fair Value, Assets Measured on Recurring Basis and Non-Recurring Basis) (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Fair Value, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	$ 3,881	$ 7,993
Restricted certificates of deposit		182
Warrant liability	31,406	12,730
Fair Value, Nonrecurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets held for sale		10,383
Right of use asset		28,960
Property, plant and equipment, net		11,515
Railcars available for lease, net		13,175
Fair Value, Inputs, Level 1 [Member] | Fair Value, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	3,881	7,993
Restricted certificates of deposit		182
Warrant liability	0	0
Fair Value, Inputs, Level 1 [Member] | Fair Value, Nonrecurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets held for sale		0
Right of use asset		0
Property, plant and equipment, net		0
Railcars available for lease, net		0
Fair Value, Inputs, Level 2 [Member] | Fair Value, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	0	0
Restricted certificates of deposit		0
Warrant liability	31,406	12,730
Fair Value, Inputs, Level 2 [Member] | Fair Value, Nonrecurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets held for sale		0
Right of use asset		0
Property, plant and equipment, net		0
Railcars available for lease, net		0
Fair Value, Inputs, Level 3 [Member] | Fair Value, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	0	0
Restricted certificates of deposit		0
Warrant liability	$ 0	0
Fair Value, Inputs, Level 3 [Member] | Fair Value, Nonrecurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets held for sale		10,383
Right of use asset		28,960
Property, plant and equipment, net		11,515
Railcars available for lease, net		$ 13,175

Restricted Cash (Details)

Restricted Cash (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Restricted Cash and Cash Equivalents Items [Line Items]
Total restricted cash	$ 7,197	$ 10,455
Customer Deposit [Member]
Restricted Cash and Cash Equivalents Items [Line Items]
Total restricted cash	281	3,204
Restricted Cash To Collateralize Standby Letters Of Credit [Member]
Restricted Cash and Cash Equivalents Items [Line Items]
Total restricted cash	3,193	3,396
Restricted Cash Equivalents To Collateralize Standby Letters Of Credit [Member]
Restricted Cash and Cash Equivalents Items [Line Items]
Total restricted cash	3,542	3,855
Restricted Cash Equivalents - Other [Member]
Restricted Cash and Cash Equivalents Items [Line Items]
Total restricted cash	$ 181	$ 0

Inventories (Schedule of Invent

Inventories (Schedule of Inventory Current) (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Mar. 31, 2021	Dec. 31, 2020
Inventories [Abstract]
Work in process	$ 44,080		$ 34,355
Parts inventory	4,703		4,476
Total inventories, net	$ 48,783	$ 35,649	$ 38,831

Inventories (Narrative) (Detail

Inventories (Narrative) (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Inventories [Abstract]
Inventory valuation reserves	$ 2,333	$ 9,836

Debt Financing and Revolving _3

Debt Financing and Revolving Credit Facilities (Narrative) (Details) $ / shares in Units, $ in Thousands	Jul. 31, 2021USD ($)	May 14, 2021USD ($)$ / shares	Nov. 24, 2020USD ($)$ / shares	Jun. 30, 2021USD ($)Item$ / sharesshares	Dec. 31, 2020USD ($)$ / sharesshares	Dec. 18, 2020USD ($)	Oct. 08, 2020USD ($)	Aug. 07, 2020USD ($)
Line of Credit Facility [Line Items]
Common Stock, Par or Stated Value Per Share | $ / shares			$ 0.01	$ 0.01	$ 0.01
Class Of Warrant Or Right, Percentage Of Oustanding Common Shares			23.00%
Class of Warrant or Right, Number of Securities Called by Warrants or Rights | shares				5,305,140	5,307,539
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ / shares				$ 0.01	$ 0.01
Warrants and Rights Outstanding				$ 31,406	$ 12,730
Paycheck Protection Program Loan [Member]
Line of Credit Facility [Line Items]
Aggregate principal amount				10,000
Siena Loan Agreement [Member]
Line of Credit Facility [Line Items]
Line of Credit Facility, Remaining Borrowing Capacity				17	9,701
deferred financing costs, gross							$ 1,101
Maximum borrowing capacity				20,000			$ 20,000
Outstanding borrowings				$ 2,613	6,874
Value of eligible accounts				85.00%
Liquidation value				85.00%
Cost of eligible inventory				50.00%
Interest rate				6.26%
Siena Loan Agreement [Member] | Base Rate [Member]
Line of Credit Facility [Line Items]
Debt Instrument, Basis Spread on Variable Rate				3.00%
Term Loan Credit Agreement [Member]
Line of Credit Facility [Line Items]
deferred financing costs		$ 480	$ 2,872	$ 2,994	$ 2,814
Aggregate principal amount		56,000		$ 40,000
Term				5 years
Additional loan amount		$ 16,000		$ 16,000
Covenant for additional financing	$ 15,000
Additional loan interest rate				14.75%
Debt payment terms		Pursuant to the Amendment, in the event that the Additional Loan is not repaid in full by March 31, 2022, the Company shall issue to the Lender and/or an affiliate of the Lender a warrant (the “Additional Warrant”) to purchase a number of shares of the Company’s common stock, par value $0.01 per share, equal to 5%  of the Company’s outstanding common stock on a fully-diluted basis at the time the Additional Warrant is exercised (after giving effect to such issuance).
Warrants outstanding term		10 years
Interest rate				14.00%
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ / shares		$ 0.01
M & T Bank [Member] | Revolving Credit Facility [Member]
Line of Credit Facility [Line Items]
Line of Credit Facility, Collateral				6,889	6,975
Maximum borrowing capacity				$ 40,000
Outstanding borrowings				$ 10,518	$ 10,105
Payment demand						$ 10,114		$ 5,081
Payment term				5 days
Interest coverage ratio | Item				1.25
Interest rate				4.18%

Debt Financing and Revolving _4

Debt Financing and Revolving Credit Facilities (Fair Value of Warrant) (Details) - USD ($) $ in Thousands	3 Months Ended			6 Months Ended
	Jun. 30, 2021	Mar. 31, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Debt Financing and Revolving Credit Facilities [Abstract]
Warrant liability		$ 12,730		$ 12,730
Change in fair value	$ (3,452)	$ 22,128	$ 0	18,676	$ 0
Warrant liability	$ 31,406			$ 31,406

Debt Financing and Revolving _5

Debt Financing and Revolving Credit Facilities (Long-Term Debt) (Details) - USD ($) $ in Thousands	Jun. 30, 2021	May 14, 2021	Dec. 31, 2020	Nov. 24, 2020
Debt Instrument [Line Items]
Total Debt	$ 79,683		$ 66,979
Total debt, net of discount and deferred financing costs	68,705		55,273
Less amounts due within one year	(20,518)		(17,605)
Long-term debt, net of current portion	48,187		37,668
M&T Credit Agreement [Member]
Debt Instrument [Line Items]
Total Debt	10,518		10,105
Paycheck Protection Program Loan [Member]
Debt Instrument [Line Items]
Total Debt	10,000		10,000
Siena Loan Agreement [Member]
Debt Instrument [Line Items]
Total Debt	2,613		6,874
Term Loan Credit Agreement [Member]
Debt Instrument [Line Items]
Total Debt	56,552		40,000
discount	(7,984)		(8,892)
deferred financing costs	$ (2,994)	$ (480)	$ (2,814)	$ (2,872)

Accumulated Other Comprehensi_3

Accumulated Other Comprehensive Loss (Schedule of Changes in Accumulated Other Comprehensive Income (Loss)) (Details) - Reclassification out of Accumulated Other Comprehensive Income [Member] - Accumulated Defined Benefit Plans Adjustment, Net Gain (Loss) Attributable to Parent [Member] - Pension Benefits [Member] - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Accumulated Other Comprehensive Income (Loss) [Line Items]
Pre-Tax	$ 156	$ 140	$ 312	$ 281
After-Tax	$ 156	$ 140	$ 312	$ 281

Accumulated Other Comprehensi_4

Accumulated Other Comprehensive Loss (Components of Accumulated Other Comprehensive Income (Loss)) (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Mar. 31, 2021	Dec. 31, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019
Accumulated Other Comprehensive Income (Loss) [Line Items]
Accumulated other comprehensive loss, net of tax	$ (9,438)	$ (7,186)	$ 30,497	$ 87,300	$ 100,350	$ 117,154
Pension Benefits [Member] | Accumulated Defined Benefit Plans Adjustment Including Portion Attributable to Noncontrolling Interest [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Accumulated other comprehensive loss, net of tax	(11,451)		(11,763)
Accumulated other comprehensive loss, tax	$ 6,282		$ 6,282

Stock-Based Compensation (Narra

Stock-Based Compensation (Narrative) (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020	Dec. 31, 2020
Restricted Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Remaining requisite service period			23 months
Unearned compensation	$ 1,132		$ 1,132
Time-Vested Stock Options [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unearned compensation related to options	1,287		$ 1,287
Remaining service period			31 months
Stock Appreciation Rights (SARs) [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award Vesting Period			3 years		3 years
Award contractual term			10 years		10 years
Stock-based compensation	127	$ 48	$ 2,679	$ 69
Estimated fair value	10,650		$ 10,650
Granted (shares)			1,735,500
Stock appreciation award vesting rights			Vesting of the 2021 cash settled stock appreciation rights is contingent upon the achievement of a thirty-day trailing average fair market value of a share of the Company’s common stock of 133.3% ($3.17)
Exercise price			$ 2.38
Stock awards, Grants in Period, Weighted Average Grant Date Fair Value			$ 1.74
Including Liability Based Awards [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation	$ 300	$ (156)	$ 2,961	$ 94
Certain Employees [Member] | Stock Appreciation Rights (SARs) [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted					1,139,464

Stock-Based Compensation (Valua

Stock-Based Compensation (Valuation Assumptions) (Details) - Stock Appreciation Rights (SARs) [Member]	6 Months Ended
	Jun. 30, 2021$ / shares
1/24/2020 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Grant Year	2020
Grant Date	Jan. 24, 2020
Expected Life	4 years 9 months 18 days
Expected Volatility	78.14%
Expected Dividend Yield	0.00%
Risk Free Interest Rate	0.83%
Fair Value Per Award	$ 4.88
9/14/2020 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Grant Year	2020
Grant Date	Sep. 14, 2020
Expected Life	5 years 2 months 12 days
Expected Volatility	76.23%
Expected Dividend Yield	0.00%
Risk Free Interest Rate	0.89%
Fair Value Per Award	$ 4.74
11/30/2020 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Grant Year	2020
Grant Date	Nov. 30, 2020
Expected Life	5 years 4 months 24 days
Expected Volatility	75.69%
Expected Dividend Yield	0.00%
Risk Free Interest Rate	0.92%
Fair Value Per Award	$ 4.57
1/5/2021 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Grant Year	2021
Grant Date	Jan. 5, 2021
Expected Life	5 years 6 months
Expected Volatility	75.48%
Expected Dividend Yield	0.00%
Risk Free Interest Rate	0.93%
Fair Value Per Award	$ 4.65

Employee Benefit Plans (Narrati

Employee Benefit Plans (Narrative) (Details) - Pension Benefits [Member] $ in Thousands	3 Months Ended	6 Months Ended
	Jun. 30, 2021USD ($)	Jun. 30, 2021USD ($)
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Expected total contributions for current fiscal year	$ 0	$ 0
Employer contributions	$ 0	$ 0

Employee Benefit Plans (Compone

Employee Benefit Plans (Components of Net Periodic Benefit Cost) (Details) - Pension Benefits [Member] - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Interest cost	$ 236	$ 358	$ 472	$ 716
Expected return on plan assets	(584)	(609)	(1,168)	(1,218)
Amortization of unrecognized net (gain) loss	156	140	312	280
Total net periodic benefit cost	$ (192)	$ (111)	$ (384)	$ (222)

Contingencies and Legal Settl_2

Contingencies and Legal Settlements (Details) - USD ($) $ in Thousands	6 Months Ended	12 Months Ended
	Jun. 30, 2021	Jun. 30, 2022	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2017	Dec. 31, 2015
State and local incentives received					$ 1,410	$ 15,733
Deferred liability balance	$ 3,613
Contingency losses	500			$ 7,500
Settlement payments	$ 1,000		$ 1,000	$ 3,500
Settlement payment term	12 months
Maximum [Member]
Incentive term	6 years
Scenario, Forecast [Member]
Settlement payments		$ 2,000

Loss Per Share (Weighted Averag

Loss Per Share (Weighted Average Common Shares Outstanding) (Details) - shares	3 Months Ended			6 Months Ended
	Jun. 30, 2021	Mar. 31, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Loss Per Share [Abstract]
Weighted average common shares outstanding	14,863,069		12,405,011	14,783,459	12,385,946
Issuance of warrants	5,297,341		0	5,300,740
Weighted average common shares outstanding (shares)	20,160,410	20,001,505	12,405,011	20,084,199	12,385,946
Weighted average diluted common shares outstanding (shares)	20,160,410	20,001,505	12,405,011	20,084,199	12,385,946

Loss Per Share (Narrative) (Det

Loss Per Share (Narrative) (Details) - shares	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Loss Per Share [Abstract]
Anti-dilutive common shares excluded from computation of earnings per share amount	1,329,429	1,107,304	1,531,864	1,076,577

Restructuring and Impairment _3

Restructuring and Impairment Charges (Narrative) (Details) $ in Thousands	Jun. 30, 2021USD ($)
Shoals Facility [Member]
Restructuring Cost and Reserve [Line Items]
Book value of property, plant, and equipment included in sale	$ 10,148

Restructuring and Impairment _4

Restructuring and Impairment Charges (Components of Restructuring and Impairment Charges) (Details) - USD ($) $ in Thousands	3 Months Ended				6 Months Ended
	Jun. 30, 2021	Mar. 31, 2021	Dec. 31, 2020	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Restructuring and Impairment Charges [Abstract]
Impairment and loss on right of use asset			$ 1,999
Impairment and loss on disposal of machinery and equipment	$ 0			$ 0	$ 1,591	$ 438
Employee severance and retention	(24)			1	(5)	(3)
Other charges related to facility closure	(96)			266	4,944	712
Total restructuring and impairment charges	$ (120)	$ 6,650		$ 267	$ 6,530	$ 1,147

Restructuring and Impairment _5

Restructuring and Impairment Charges (Schedule Of Restructuring Reserve Activity) (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Restructuring Cost and Reserve [Line Items]
Accrued	$ 1,847	$ 1,006
Cash Charges	6,437	794
Non-cash charges	93	352
Cash payments	(7,926)	(1,733)
Accrued	278	67
Impairment And Loss On Disposal Of Machinery And Equipment [Member]
Restructuring Cost and Reserve [Line Items]
Accrued	0
Cash Charges	0
Non-cash charges	269
Cash payments	0
Accrued	0
Loss On Disposal Of Machinery And Equipment [Member]
Restructuring Cost and Reserve [Line Items]
Accrued		0
Cash Charges		0
Non-cash charges		438
Cash payments		0
Accrued		0
Employee Severance And Retention [Member]
Restructuring Cost and Reserve [Line Items]
Accrued	1,596	647
Cash Charges	0	(4)
Non-cash charges	(80)	0
Cash payments	(1,238)	(636)
Accrued	278	7
Other Charges Related To Facility Closure [Member]
Restructuring Cost and Reserve [Line Items]
Accrued	251	359
Cash Charges	6,437	798
Non-cash charges	(96)	(86)
Cash payments	(6,688)	(1,097)
Accrued	$ 0	$ 60

Related Parties (Details)

Related Parties (Details) - USD ($) $ in Millions	3 Months Ended	6 Months Ended
	Jun. 30, 2021	Jun. 30, 2021
Fasemex [Member]
Related Party Transaction [Line Items]
Related Party Transaction, Expenses from Transactions with Related Party	$ 13.4	$ 18.1
Distribuciones Industrials [Member]
Related Party Transaction [Line Items]
Related party costs	0.5	0.9
Maquinaria y equipo de transporte
Related Party Transaction [Line Items]
Related party costs	0.3	0.4
Warrantholder
Related Party Transaction [Line Items]
Related party deferred financing costs	0.5	0.5
Interest expense related party	$ 1.4	$ 2.6

Risks and Contingencies (Detail

Risks and Contingencies (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2019
Contingencies and Legal Settlements [Abstract]
Contingency losses	$ 500	$ 7,500

Subsequent Events (Details)

Subsequent Events (Details) - USD ($)	Aug. 06, 2021	Jul. 14, 2021	Jul. 30, 2021	Jun. 30, 2021	Oct. 08, 2021	Aug. 01, 2021	May 14, 2021	Dec. 31, 2020	Nov. 24, 2020	Oct. 08, 2020
Subsequent Event [Line Items]
Long Term Debt				$ 68,705,000				$ 55,273,000
Common stock, par value				$ 0.01				$ 0.01	$ 0.01
Exercise price				$ 0.01				$ 0.01
SBA Paycheck Protection Program Loan
Subsequent Event [Line Items]
Long Term Debt				$ 10,000,000
Siena Loan Agreement [Member]
Subsequent Event [Line Items]
Maximum borrowing capacity				20,000,000						$ 20,000,000
Siena Loan Agreement [Member] | Scenario, Forecast [Member]
Subsequent Event [Line Items]
Issued and undrawn amount, Percentage					3.00%
Maximum borrowing capacity, description			the outstanding balance of all Revolving Loans may not exceed the lesser of (A) the Maximum Revolving Facility Amount minus the Availability Block and (B) an amount equal to the issued and undrawn portion of the Third Amendment Letter of Credit (as defined above) minus the Availability Block. The term “Availability Block”, as defined in the Amended and Restated Loan and Security Agreement, means 3.0% of the issued and undrawn amount under the Third Amendment Letter of Credit.
Debt Instrument, Basis Spread on Variable Rate			2.00%
Term Loan Credit Agreement [Member]
Subsequent Event [Line Items]
Face amount				$ 40,000,000			$ 56,000,000
Revolving loan, interest rate				14.75%
Exercise price							$ 0.01
Subsequent Event [Member]
Subsequent Event [Line Items]
Percentage of common stock	9.99%
Subsequent Event [Member] | SBA Paycheck Protection Program Loan
Subsequent Event [Line Items]
Loan Forgiveness		$ 10,000,000
Remaining Balance Of Loan		$ 0
Subsequent Event [Member] | Siena Loan Agreement [Member]
Subsequent Event [Line Items]
Maximum borrowing capacity			$ 25,000,000
Subsequent Event [Member] | Term Loan Credit Agreement Third Amendment [Member]
Subsequent Event [Line Items]
Common stock, par value	$ 0.01
Rail repayment liquidity condition to covert equity fee to cash	$ 15,000
Equity Fee	$ 1,000
Percentage of common stock	5.00%
Cash fee	$ 1,000
Subsequent Event [Member] | Letter of Credit [Member]
Subsequent Event [Line Items]
Equity Fee						$ 500,000
Subsequent Event [Member] | Letter of Credit [Member] | Term Loan Credit Agreement Third Amendment [Member]
Subsequent Event [Line Items]
Long Term Debt			$ 25,000,000

Revision of Prior Period Fina_3

Revision of Prior Period Financial Statements - Consolidated Statements of Operations (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended			6 Months Ended
	Jun. 30, 2021	Mar. 31, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Revenues	$ 37,354	$ 32,370	$ 17,458	$ 69,724	$ 22,655
Cost of sales	33,716	29,780	23,602	63,496	37,602
Gross profit (loss)	3,638	2,590	(6,144)	6,228	(14,947)
Selling, general and administrative expenses	6,294	9,151	6,537	15,445	13,947
Restructuring and impairment charges	(120)	6,650	267	6,530	1,147
Operating loss	(2,536)	(13,211)	(12,948)	(15,747)	(30,041)
Interest expense	(3,212)	(2,502)	(167)	(5,714)	(463)
Gain (loss) on change in fair market value of warrant liability	3,452	(22,128)	0	(18,676)	0
Other income	230	115	134	345	358
Loss before income taxes	(2,066)	(37,726)	(12,981)	(39,792)	(30,146)
Income tax (benefit) provision	504	132	(1)	636	(3)
Net loss	(2,570)	(37,858)	(12,980)	(40,428)	(30,143)
Less Net loss attributable to noncontrolling interest in JV	0	0	(189)	0	(405)
Net loss attributable to FreightCar America	$ (2,570)	$ (37,858)	$ (12,791)	$ (40,428)	$ (29,738)
Net loss per common share attributable to FreightCar America- basic	$ (0.13)	$ (1.89)	$ (0.97)	$ (2.01)	$ (2.26)
Net loss per common share attributable to FreightCar America- diluted	$ (0.13)	$ (1.89)	$ (0.97)	$ (2.01)	$ (2.26)
Weighted average common shares outstanding - basic	20,160,410	20,001,505	12,405,011	20,084,199	12,385,946
Weighted average common shares outstanding - diluted	20,160,410	20,001,505	12,405,011	20,084,199	12,385,946
As Reported [Member]
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Revenues		$ 32,370
Cost of sales		30,566
Gross profit (loss)		1,804
Selling, general and administrative expenses		9,151
Restructuring and impairment charges		6,650
Operating loss		(13,997)
Interest expense		(2,502)
Gain (loss) on change in fair market value of warrant liability		(22,128)
Other income		115
Loss before income taxes		(38,512)
Income tax (benefit) provision		(133)
Net loss		(38,379)
Less Net loss attributable to noncontrolling interest in JV		0
Net loss attributable to FreightCar America		$ (38,379)
Net loss per common share attributable to FreightCar America- basic		$ (1.92)
Net loss per common share attributable to FreightCar America- diluted		$ (1.92)
Weighted average common shares outstanding - basic		20,001,505
Weighted average common shares outstanding - diluted		20,001,505
Adjustments [Member]
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Cost of sales		$ 786
Gross profit (loss)		786
Operating loss		786
Loss before income taxes		786
Income tax (benefit) provision		265
Net loss		521
Less Net loss attributable to noncontrolling interest in JV		0
Net loss attributable to FreightCar America		$ 521
Net loss per common share attributable to FreightCar America- basic		$ 0.03
Net loss per common share attributable to FreightCar America- diluted		$ 0.03

Revision of Prior Period Fina_4

Revision of Prior Period Financial Statements - Consolidated Balance Sheets (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Mar. 31, 2021	Dec. 31, 2020
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Inventories, net	$ 48,783	$ 35,649	$ 38,831
Prepaid expenses	10,547	10,924	3,652
Total current assets	109,841	97,744	120,978
Total assets	170,058	158,591	182,742
Accumulated deficit	(79,047)	(76,477)	(38,619)
Total stockholders' equity deficit	(9,438)	(7,186)	30,497
Total liabilities and stockholders' equity	$ 170,058	158,591	$ 182,742
As Reported [Member]
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Inventories, net		37,054
Prepaid expenses		8,998
Total current assets		97,223
Total assets		158,070
Accumulated deficit		(76,998)
Total stockholders' equity deficit		(7,707)
Total liabilities and stockholders' equity		158,070
Adjustments [Member]
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Inventories, net		(1,405)
Prepaid expenses		1,926
Total current assets		521
Total assets		521
Accumulated deficit		521
Total stockholders' equity deficit		521
Total liabilities and stockholders' equity		$ 521

Revision of Prior Period Fina_5

Revision of Prior Period Financial Statements - Consolidated Statements of Cash Flows (Details) - USD ($) $ in Thousands	3 Months Ended			6 Months Ended
	Jun. 30, 2021	Mar. 31, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Net loss	$ (2,570)	$ (37,858)	$ (12,980)	$ (40,428)	$ (30,143)
Inventories		4,824		(8,058)	(22,024)
Other assets		(7,324)		(6,263)	(7,188)
Income taxes receivable/payable		131		(360)	(13)
Net cash used in operating activities		(22,276)		$ (44,109)	$ (20,783)
As Reported [Member]
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Net loss		(38,379)
Inventories		3,419
Other assets		(5,133)
Income taxes receivable/payable		(134)
Net cash used in operating activities		(22,276)
Adjustments [Member]
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Net loss		521
Inventories		1,405
Other assets		(2,191)
Income taxes receivable/payable		265
Net cash used in operating activities		$ 0