FreightCar America (RAIL) 10-Q 3 May 16 2016 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Mar. 31, 2016	Apr. 22, 2016
Document and Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Fiscal Period Focus	Q1
Document Fiscal Year Focus	2,016
Document Period End Date	Mar. 31, 2016
Current Fiscal Year End Date	--12-31
Entity Central Index Key	1,320,854
Entity Registrant Name	FREIGHTCAR AMERICA, INC.
Entity Filer Category	Accelerated Filer
Entity Common Stock, Shares Outstanding		12,361,877

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015
Assets
Cash and cash equivalents	$ 70,223	$ 83,068
Restricted cash and restricted certificates of deposit	5,168	6,896
Marketable securities	20,989	26,951
Accounts receivable, net of allowance for doubtful accounts of $14 and $82, respectively	18,321	39,708
Inventories, net	136,363	115,354
Other current assets	21,108	8,704
Total current assets	272,172	280,681
Property, plant and equipment, net	44,136	42,596
Railcars available for lease, net	24,544	24,729
Goodwill	21,521	21,521
Deferred income taxes, net	11,560	34,722
Other long-term assets	2,468	2,655
Total assets	376,401	406,904
Liabilities and Stockholders' Equity
Accounts and contractual payables	41,115	34,304
Accrued payroll and employee benefits	4,327	8,303
Accrued postretirement benefits	405	405
Reserve for workers' compensation	4,111	4,165
Accrued warranty	9,624	9,239
Customer deposits and deferred revenue	21,276	8,615
Income taxes payable	65	4,180
Other current liabilities	3,584	3,346
Total current liabilities	84,507	72,557
Accrued pension costs	6,569	6,673
Accrued postretirement benefits, less current portion	6,043	72,497
Deferred income state and local incentives, long-term	11,658	12,190
Accrued taxes and other long-term liabilities	7,745	7,876
Total liabilities	116,522	171,793
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 March 31, 2016 and December 31, 2015)	0	0
Common stock, $0.01 par value, 50,000,000 shares authorized 12,731,678 shares issued at March 31, 2016 and December 31, 2015	127	127
Additional paid in capital	92,211	93,939
Treasury stock, at cost, 369,801 and 402,166 shares at March 31, 2016 and December 31, 2015, respectively	(15,629)	(17,516)
Accumulated other comprehensive loss	(8,025)	(21,078)
Retained earnings	191,195	179,639
Total stockholders' equity	259,879	235,111
Total liabilities and stockholders' equity	$ 376,401	$ 406,904

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015
Allowance for Doubtful Accounts Receivable, Current	$ 14	$ 82
Preferred Stock, Par or Stated Value Per Share	$ 0.01	$ 0.01
Preferred Stock, Shares Authorized	2,500,000	2,500,000
Preferred Stock, Shares Issued	0	0
Preferred Stock, Shares Outstanding	0	0
Common Stock, Par or Stated Value Per Share	$ 0.01	$ 0.01
Common Stock, Shares Authorized	50,000,000	50,000,000
Common Stock, Shares, Issued	12,731,678	12,731,678
Treasury stock, at cost	369,801	402,166
Series A Preferred Stock [Member]
Preferred Stock, Shares Authorized	100,000	100,000
Series B Preferred Stock [Member]
Preferred Stock, Shares Authorized	100,000	100,000

Consolidated Statements of Oper

Consolidated Statements of Operations - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Consolidated Statements of Operations [Abstract]
Revenues	$ 148,590	$ 92,804
Cost of sales	132,703	88,251
Gross profit	15,887	4,553
Selling, general and administrative expenses	10,598	8,843
Gain on sale of railcars available for lease	0	(1,187)
Gain on settlement of postretirement benefit plan obligation, net of plaintiffs' attorneys' fees	(14,306)	0
Operating income (loss)	19,595	(3,103)
Interest expense and deferred financing costs	(45)	(70)
Other income	81	52
Income (loss) before income taxes	19,631	(3,121)
Income tax provision (benefit)	6,964	(1,048)
Net income (loss)	$ 12,667	$ (2,073)
Net income (loss) per common share - basic	$ 1.03	$ (0.17)
Net income (loss) per common share - diluted	$ 1.03	$ (0.17)
Weighted average common shares outstanding - basic	12,252,131	12,020,622
Weighted average common shares outstanding - diluted	12,252,131	12,020,622
Dividends declared per common share	$ 0.09	$ 0.09

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income (Loss) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Consolidated Statements of Comprehensive Income (Loss) [Abstract]
Net income (loss)	$ 12,667	$ (2,073)
Other comprehensive income:
Pension liability adjustments, net of tax	81	63
Postretirement liability adjustments, net of tax	12,972	102
Other comprehensive income	13,053	165
Comprehensive income (loss)	$ 25,720	$ (1,908)

Consolidated Statements of Stoc

Consolidated Statements of Stockholders' Equity - USD ($) $ in Thousands	Common Stock [Member]	Additional Paid in Capital [Member]	Treasury Stock [Member]	Accumulated Other Comprehensive Loss [Member]	Retained Earnings [Member]	Total
Balance at Dec. 31, 2014	$ 127	$ 100,303	$ (29,971)	$ (24,017)	$ 152,253	$ 198,695
Balance (Shares) at Dec. 31, 2014	12,731,678		(665,869)
Net income (loss)					(2,073)	(2,073)
Other comprehensive income				165		165
Restricted stock awards		(2,286)	$ 2,286			0
Restricted stock awards, shares			50,787
Forfeiture of restricted stock awards		9	$ (9)			0
Forfeiture of restricted stock awards, shares			(290)
Employee stock settlement			$ (116)			(116)
Employee stock settlement, shares			(4,733)
Stock-based compensation recognized		603				603
Cash dividends					(1,090)	(1,090)
Balance at Mar. 31, 2015	$ 127	98,629	$ (27,810)	(23,852)	149,090	196,184
Balance (Shares) at Mar. 31, 2015	12,731,678		(620,105)
Balance at Dec. 31, 2015	$ 127	93,939	$ (17,516)	(21,078)	179,639	235,111
Balance (Shares) at Dec. 31, 2015	12,731,678		(402,166)
Net income (loss)					12,667	12,667
Other comprehensive income				13,053		13,053
Restricted stock awards		(2,235)	$ 2,235			0
Restricted stock awards, shares			51,764
Forfeiture of restricted stock awards		278	$ (278)			0
Forfeiture of restricted stock awards, shares			(15,634)
Employee stock settlement			$ (70)			(70)
Employee stock settlement, shares			(3,765)
Stock-based compensation recognized		229				229
Cash dividends					(1,111)	(1,111)
Balance at Mar. 31, 2016	$ 127	$ 92,211	$ (15,629)	$ (8,025)	$ 191,195	$ 259,879
Balance (Shares) at Mar. 31, 2016	12,731,678		(369,801)

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Cash flows from operating activities
Net income (loss)	$ 12,667	$ (2,073)
Adjustments to reconcile net income (loss) to net cash flows used in operating activities
Depreciation and amortization	2,619	2,399
Recognition of deferred income from state and local incentives	(532)	(175)
Gain on sale of railcars available for lease	0	(1,187)
Gain on settlement of postretirement benefit plan obligation	(15,606)	0
Deferred income taxes	16,149	(1,075)
Stock-based compensation recognized	229	603
Other non-cash items, net	334	908
Changes in operating assets and liabilities:
Accounts receivable	21,387	(3,159)
Inventories	(21,353)	(78,325)
Other assets	(3,152)	(3,323)
Accounts and contractual payables	5,431	11,274
Accrued payroll and employee benefits	(3,976)	(2,828)
Income taxes receivable/payable	(6,277)	(335)
Accrued warranty	385	(463)
Customer deposits and other liabilities	12,649	(1,393)
Payment for settlement of postretirement benefit plan obligation	(31,616)	0
Accrued pension costs and accrued postretirement benefits	(6,283)	647
Net cash flows used in operating activities	(16,945)	(78,505)
Cash flows from investing activities
Purchase of restricted certificates of deposit	(1,182)	(627)
Maturity of restricted certificates of deposit	2,910	295
Purchase of securities held to maturity	0	(5,993)
Proceeds from maturity of securities	6,000	6,000
Proceeds from sale of railcars available for lease	0	7,580
Purchases of property, plant and equipment	(2,447)	(4,308)
State incentives received	0	4,907
Net cash flows provided by investing activities	5,281	7,854
Cash flows from financing activities
Employee stock settlement	(70)	(116)
Cash dividends paid to stockholders	(1,111)	(1,090)
Net cash flows used in financing activities	(1,181)	(1,206)
Net decrease in cash and cash equivalents	(12,845)	(71,857)
Cash and cash equivalents at beginning of period	83,068	113,532
Cash and cash equivalents at end of period	70,223	41,675
Supplemental cash flow information:
Interest paid	15	64
Income taxes paid	$ 4,170	$ 479

Description of the Business

Description of the Business	3 Months Ended
	Mar. 31, 2016
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, JAC Operations, Inc., Johnstown America, LLC, Freight Car Services, Inc., JAIX Leasing Company (“JAIX”), FreightCar Roanoke, LLC, FreightCar Alabama, LLC and FreightCar (Shanghai) Trading Co., Ltd. (herein collectively referred to as the “Company”), and manufactures a wide range of railroad freight cars, supplies railcar parts and leases freight cars. The Company designs and builds high-quality railcars, including coal cars, bulk commodity cars, covered hopper cars, intermodal and non-intermodal flat cars, mill gondola cars, coil steel cars and boxcars. The Company is headquartered in Chicago, Illinois and has facilities in the following locations: Cherokee, Alabama; Danville, Illinois; Grand Island, Nebraska; Johnstown, Pennsylvania; Roanoke, Virginia; and Shanghai, People’s Republic of China.  The Company and its direct and indirect subsidiaries are all Delaware corporations or Delaware limited liability companies except FreightCar (Shanghai) Trading Co., Ltd., which is organized in the People’s Republic of China. The Company’s direct and indirect subsidiaries are all wholly owned.

Basis of Presentation

Basis of Presentation	3 Months Ended
	Mar. 31, 2016
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 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 months ended March 31, 2016 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 2015 year-end balance sheet data was derived from the audited financial statements as of December 31, 2015. 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, 2015.

Recent Accounting Pronouncement

Recent Accounting Pronouncements	3 Months Ended
	Mar. 31, 2016
Recent Accounting Pronouncements [Abstract]
Recent Accounting Pronouncements	Note 3 – Recent Accounting Pronouncements  In March 2016, the Financial Accounting Standards Board (the “FASB”) issued Accounting Standards Update (“ASU”) 2016-09, Compensation – Stock Compensation (Topic 718) Improvements to Employee Share-Based Payment Accounting, to simplify the accounting for stock compensation. The ASU focuses on income tax accounting, award classification, estimating forfeitures and cash flow presentation. This standard is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2016, with early adoption permitted. The Company is currently evaluating the impact that this guidance will have on its consolidated financial statements and related disclosures.  In February 2016, the FASB issued ASU 2016-02, Leases (Topic 842), which requires a lessee to record a right-of-use asset and a lease liability for all leases with a term greater than twelve months regardless of whether the lease is classified as an operating lease or a financing lease. Leases with a term of twelve months or less will be accounted for in a similar manner to existing guidance for operating leases. This standard is effective for fiscal years beginning after December 15, 2018, including interim periods within those fiscal years. Early adoption is permitted. Entities are required to use a modified retrospective approach for leases that exist or are entered into after the beginning of the earliest comparative period in the financial statements. The Company is currently assessing the impact of this standard on the Company’s financial position, results of operations and cash flows. In July 2015, the FASB issued ASU 2015-11, Inventory (Topic 330), which requires entities to measure most inventory at the lower of cost and net realizable value, thereby simplifying the current guidance under which an entity must measure inventory at the lower of cost or market. Under ASU 2015-11, inventory is measured at the lower of cost and net realizable value, which eliminates the need to determine replacement cost and evaluate whether it is above the ceiling (net realizable value) or below the floor (net realizable value less normal profit margin). ASU 2015-11 defines net realizable value as the estimated selling prices in the ordinary course of business, less reasonably predictable costs of completion, disposal and transportation. This standard is effective prospectively for annual reporting periods beginning after December 15, 2016 (early adoption is permitted). The Company is currently evaluating the impact that this guidance will have on its consolidated financial statements and related disclosures. In April 2015, the FASB issued ASU 2015-03, Simplifying the Presentation of Debt Issuance Costs, which changes the presentation of debt issuance costs in financial statements. ASU 2015-03 requires an entity to present such costs in the balance sheet as a direct deduction from the related debt liability rather than as an asset. Amortization of the debt issuance costs will continue to be reported as interest expense. This standard is effective retrospectively for annual reporting periods beginning after December 15, 2016 (early adoption is permitted). The adoption of these changes is not expected to have a material impact on the consolidated financial position, results of operations or cash flows of the Company. In February 2015, the FASB issued ASU 2015-02, Consolidation (Topic 810) Amendments to the Consolidation Analysis, which changes the analysis that a reporting entity must perform to determine whether it should consolidate certain types of legal entities. All legal entities are subject to reevaluation under the revised consolidation model. The new guidance affects the following areas: (1) limited partnerships and similar legal entities; (2) evaluating fees paid to a decision maker or a service provider as a variable interest; (3) the effect of fee arrangements on the primary beneficiary determination; (4) the effect of related parties on the primary beneficiary determination; and (5) certain investment funds. This standard is effective for fiscal years beginning after December 15, 2015 and interim periods within those fiscal years. The adoption of these changes did not have a material impact on the consolidated financial position, results of operations or cash flows of the Company. In May 2014, the FASB issued ASU No. 2014-09, Revenue from Contracts with Customers , which was further clarified in March 2016. The ASU outlines a single comprehensive model for entities to use in accounting for revenue arising from contracts with customers and supersedes most prior revenue recognition guidance, including industry-specific guidance. The ASU is based on the principle that an entity should recognize revenue to depict the transfer of goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. The ASU also requires additional disclosure about the nature, amount, timing and uncertainty of revenue and cash flows arising from customer contracts, including significant judgments and changes in judgments and assets recognized from costs incurred to fulfill a contract. Entities have the option of using either a full retrospective or a modified retrospective approach for the adoption of the new standard. The ASU is effective for annual reporting periods beginning after December 15, 2017 and early adoption as of December 15, 2016 is permitted. The Company is currently assessing the impact of this standard on the Company’s financial position, results of operations and cash flows.

Segment Information

Segment Information	3 Months Ended
	Mar. 31, 2016
Segment Information [Abstract]
Segment Information	Note 4 – Segment Information     On September 30, 2015, the Company sold its railcar repair and maintenance services business. Through September 30, 2015, the Company’s operations comprised two reportable segments, Manufacturing and Services. As of October 1, 2015, 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 rebuilds. The Company’s Parts operating segment is not expected to be of continuing significance for separate reporting and has been combined with corporate and other non-operating activities as Corporate and Other. Prior period segment information has been recast to include general railcar repair and maintenance and inspections and parts sales in 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 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 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  March 31,  2016 2015  Revenues:  Manufacturing $ 146,071 $ 85,097  Corporate and Other 2,519 7,707  Consolidated revenues $ 148,590 $ 92,804   Operating income (loss):  Manufacturing $ 12,782 $ 1,858  Corporate and Other (1) 6,813 (4,961)  Consolidated operating income (loss) 19,595 (3,103)  Consolidated interest expense and deferred financing costs (45) (70)  Consolidated other income 81 52  Consolidated income (loss) before income taxes $ 19,631 (3,121)   Depreciation and amortization:  Manufacturing 2,106 1,446  Corporate and Other 513 778  Consolidated depreciation and amortization $ 2,619 $ 2,224   Capital expenditures:  Manufacturing $ 2,376 $ 4,064  Corporate and Other 71 244  Consolidated capital expenditures $ 2,447 $ 4,308     March 31, December 31,  2016 2015  Assets:  Manufacturing $ 242,625 $ 238,841  Corporate and Other 112,975 133,341  Total operating assets 355,600 372,182  Consolidated income taxes receivable 9,241 -  Consolidated deferred income taxes, long-term 11,560 34,722  Consolidated assets $ 376,401 $ 406,904 (1) Results for the three months ended March 31, 2016 included a $14,306 gain on the settlement of a postretirement benefit plan obligation, net of plaintiffs’ attorneys’ fees (see note 12).

Fair Value Measurements

Fair Value Measurements	3 Months Ended
	Mar. 31, 2016
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.     Recurring Fair Value Measurements As of March 31, 2016  Level 1 Level 2 Level 3 Total  ASSETS:  Cash equivalents $ 145 $ - $ - $ 145  Restricted certificates of deposit $ 5,168 $ - $ - $ 5,168  Escrow receivable $ - $ - $ 1,910 $ 1,910      Recurring Fair Value Measurements As of December 31, 2015  Level 1 Level 2 Level 3 Total  ASSETS:  Cash equivalents $ 33,150 $ - $ - $ 33,150  Restricted certificates of deposit $ 6,896 $ - $ - $ 6,896  Escrow receivable $ - $ - $ 1,910 $ 1,910 No non-financial assets were recorded at fair value on a non-recurring basis at each of March 31, 2016 and December 31, 2015.

Marketable Securities

Marketable Securities	3 Months Ended
	Mar. 31, 2016
Marketable Securities [Abstract]
Marketable Securities	Note 6 – Marketable Securities  The Company’s current investment policy is to invest in cash, certificates of deposit, U.S. treasury securities, U.S. government agency obligations and money market funds invested in U.S. government securities. Marketable securities as of March 31, 2016 and December 31, 2015 of $20,989 and $26,951 , respectively, consisted of U.S. treasury securities held to maturity and certificates of deposit with original maturities of greater than 90 days and up to one year . Due to the short-term nature of these securities and their low interest rates, there is no material difference between their fair market values and amortized costs.

Inventories

Inventories	3 Months Ended
	Mar. 31, 2016
Inventories [Abstract]
Inventories	Note 7 – Inventories  Inventories, net of reserve for excess and slow-moving items, consist of the following:     March 31, December 31,  2016 2015   Work in process $ 127,658 $ 108,099  Finished new railcars 4,393 2,538  Parts inventory 4,312 4,717  Total inventories, net $ 136,363 $ 115,354 Inventory on the Company’s condensed consolidated balance sheets includes reserves of $4,137 and $3,793 relating to excess or slow-moving inventory for parts and work in process at March 31, 2016 and December 31, 2015, respectively.

Leased Railcars

Leased Railcars	3 Months Ended
	Mar. 31, 2016
Leased Railcars [Abstract]
Leased Railcars	Note 8 – Leased Railcars  Railcars available for lease, net at March 31, 2016 was $24,544 (cost of $27,954 and accumulated depreciation of $3,410 ) and at December 31, 2015 was $24,729 (cost of $27,954 and accumulated depreciation of $3,225 ). The Company’s lease utilization rate for railcars in its lease fleet was 73% as of each of March 31, 2016 and December 31, 2015.  Leased railcars at March 31, 2016 are subject to lease agreements with external customers with terms of up to six years and are accounted for as operating leases.  Future minimum rental revenues on leased railcars at March 31, 2016 are as follows:      Nine months ending December 31, 2016 $ 1,280  Year ending December 31, 2017 1,706  Year ending December 31, 2018 1,118  Year ending December 31, 2019 1,001  Year ending December 31, 2020 1,001  Thereafter 275  $ 6,381 

State and Local Incentives

State and Local Incentives	3 Months Ended
	Mar. 31, 2016
State and Local Incentives [Abstract]
State and Local Incentives	Note 9 – State and Local Incentives  The Company records state and local incentives when there is reasonable assurance that the incentive will be received and the Company is able to comply with the conditions attached to the incentives received. State incentives related to assets are recorded as deferred income and recognized on a straight-line basis over the useful life of the related assets.  During the year ended December 31, 2015, the Company received cash payments of $15,733 for Alabama state and local incentives related to the Company’s capital investment and employment levels at its Cherokee, Alabama (“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 six years from the grant date of the incentive. The Company’s level of employment at its Shoals facility currently exceeds and is expected to continue to exceed the minimum targeted levels of employment. In the event that any portion of the incentives is required to be repaid by the Company, the amount of such repayment is unlikely to exceed the deferred liability balance at March 31, 2016.  The changes in deferred income from these incentives for the three months ended March 31, 2016 and 2015, are as follows:    Three Months Ended  March 31,   2016 2015   Balance at the beginning of the period $ 14,318 $ -  State and local incentives received during the period - 4,907  Recognition of state and local incentives as reduction of cost of sales (532) (175)  Balance at the end of the period, including current portion $ 13,786 $ 4,732 

Accumulated Other Comprehensive

Accumulated Other Comprehensive Income (Loss)	3 Months Ended
	Mar. 31, 2016
Accumulated Other Comprehensive Income (Loss) [Abstract]
Accumulated Other Comprehensive Income (Loss)	Note 10 – Accumulated Other Comprehensive Income (Loss) The changes in accumulated other comprehensive income (loss) consist of the following:     Pre-Tax Tax Net of Tax  Three months ended March 31, 2016  Pension liability activity:  Reclassification adjustment for amortization of net loss (pre-tax cost of sales of $(10) and selling, general and administrative expenses of $135 ) $ 125 $ 44 $ 81  Postretirement liability activity:  Actuarial loss (1,689) (594) (1,095)  Settlement gain 37,190 13,076 24,114  Reclassification adjustment for settlement income (pre-tax gain on settlement of postretirement benefit plan obligation) (15,606) (5,487) (10,119)  Reclassification adjustment for amortization of net loss (pre-tax cost of sales of $96 and selling, general and administrative expenses of $12 ) 108 39 69  Reclassification adjustment for amortization of prior service cost (pre-tax cost of sales of $4 ) 4 1 3  $ 20,132 $ 7,079 $ 13,053             Pre-Tax Tax Net of Tax  Three months ended March 31, 2015  Pension liability activity:  Reclassification adjustment for amortization of net loss (pre-tax cost of sales of $83 and selling, general and administrative expenses of $27 ) $ 110 $ 47 $ 63  Postretirement liability activity:  Reclassification adjustment for amortization of net loss (pre-tax cost of sales of $142 and selling, general and administrative expenses of $20 ) 162 66 96  Reclassification adjustment for amortization of prior service cost (pre-tax cost of sales of $9 and selling, general and administrative expenses of $1 ) 10 4 6  $ 282 $ 117 $ 165    The components of accumulated other comprehensive loss consist of the following:    March 31, December 31,  2016 2015   Unrecognized pension cost, net of tax of $6,385 and $6,429 $ (10,403) $ (10,484)  Unrecognized postretirement income (cost), net of tax of $573 and $6,461 2,378 (10,594)  $ (8,025) $ (21,078) 

Stock-Based Compensation

Stock-Based Compensation	3 Months Ended
	Mar. 31, 2016
Stock-Based Compensation [Abstract]
Stock-Based Compensation	Note 11 – Stock-Based Compensation  The Company recognizes stock-based compensation expense for stock option awards based on the fair value of the award on the grant date using the Black-Scholes option valuation model. Expected life in years for all stock options awards was determined using the simplified method. The Company believes that it is appropriate to use the simplified method in determining the expected life for options because the Company does not have sufficient historical exercise data to provide a reasonable basis upon which to estimate the expected term for stock options. Expected volatility was based on the historical volatility of the Company’s stock. The risk-free interest rate was based on the U.S. Treasury bond rate for the expected life of the option. The expected dividend yield was based on the latest annualized dividend rate and the current market price of the underlying common stock on the date of the grant. The Company recognizes stock-based compensation for restricted stock awards over the vesting period based on the fair market value of the stock on the date of the award, calculated as the average of the high and low trading prices for the Company’s common stock on the award date.  In January 2015 and January 2016, the Company granted performance shares with performance measurement periods of January 1, 2015 through December 31, 2017 and January 1, 2016 through December 31, 2018, respectively. The shares will vest and be earned at the end of each performance measurement period, if at all, based on the Company’s three-year cumulative basic earnings per share, provided that a minimum three-year average return on invested capital goal is also met or exceeded. The earnings per share thresholds and return on invested capital goals were established by the Company’s board of directors on the grant dates. The Company recognizes stock-based compensation cost for performance shares over the vesting period based on the fair market value of the Company’s stock on the award date multiplied by the estimated number of shares to be awarded based on the probable outcome of the performance conditions. As of March 31, 2016, the probable outcome of the performance conditions for both grants was estimated to be at the target level.   Total stock-based compensation for the three months ended March 31, 2016 and 2015, was $229 and $603 , respectively. As of March 31, 2016, there was $1,259 of unearned compensation expense related to stock options and restricted stock awards, which will be recognized over the remaining requisite service period of 35 months.

Employee Benefit Plans

Employee Benefit Plans	3 Months Ended
	Mar. 31, 2016
Employee Benefit Plans [Abstract]
Employee Benefit Plans	Note 12 – Employee Benefit Plans  The Company has qualified, defined benefit pension plans that were established to provide benefits to certain employees. These plans are frozen and participants are no longer accruing benefits. Generally, contributions to the plans 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 plans’ assets are held by independent trustees and consist primarily of equity and fixed income securities.  The Company also historically provided certain postretirement health care benefits for certain of its salaried and hourly retired employees. Generally, employees may become eligible for health care benefits if they retire after attaining specified age and service requirements. These benefits are subject to deductibles, co-payment provisions and other limitations.  A substantial portion of the Company’s postretirement benefit plan obligation related to an expired settlement agreement with the Union representing employees at the Company’s and its predecessors’ Johnstown manufacturing facilities. The terms of that settlement agreement (the “2005 Settlement Agreement”) required the Company to pay until November 30, 2012 certain monthly amounts toward the cost of retiree health care coverage. The Company terminated, effective November 1, 2013, its contributions for medical coverage and life insurance benefits to affected retirees. On August 20, 2015, the Company reached a settlement agreement with the Union and the other plaintiffs in connection with the disputed retiree medical and life insurance benefits (see Note 13). The Company’s recorded postretirement benefit plan obligation through December 31, 2015 assumed for accounting purposes a continuation of those monthly payments after November 30, 2012 because the status of the settlement had not yet met the requirements for settlement accounting. A transaction meets the criteria to be accounted for as a settlement when a transaction is irrevocable, relieves the employer of primary responsibility for the benefit obligation, and eliminates significant risks related to the obligation and the assets used to effect the settlement. Settlement accounting was triggered when the Company made the cash settlement payment of $31,616 (including $166 of interest) on March 25, 2016. The settlement resulted in a pre-tax gain of $14,306 (net of plaintiffs’ attorneys’ fees of $1,300 ) and a reduction in the postretirement benefit obligation of approximately $68,806 .  The components of net periodic benefit cost (benefit) for the three months ended March 31, 2016 and 2015, are as follows:     Three Months Ended  March 31,  Pension Benefits 2016 2015  Interest cost $ 582 $ 580  Expected return on plan assets (686) (761)  Amortization of unrecognized net loss 125 110  $ 21 $ (71)     Three Months Ended  March 31,  Postretirement Benefit Plan 2016 2015  Service cost $ 15 $ 17  Interest cost 738 743  Settlement income (15,606) -  Amortization of prior service cost 4 10  Amortization of unrecognized net loss 108 162  $ (14,741) $ 932    The Company made no contributions to the Company’s defined benefit pension plans for each of the three months ended March 31, 2016 and 2015. The Company expects to make no contributions to its pension plans in 2016.  The Company made contributions to the Company’s postretirement benefit plan of $112 and $96 for salaried retirees for the three months ended March 31, 2016 and 2015, respectively. The Company expects to make $405 in contributions (including contributions already made) to its postretirement benefit plan in 2016 for salaried retirees. As a result of the settlement payment described above, the Company has no further postretirement benefit obligation for hourly retirees. The Company also maintains qualified defined contribution plans, which provide benefits to employees based on employee contributions, employee earnings or certain subsidiary earnings, with discretionary contributions allowed. Expenses related to these plans were $686 and $602 for the three months ended March 31, 2016 and 2015, respectively.

Contingencies

Contingencies	3 Months Ended
	Mar. 31, 2016
Contingencies [Abstract]
Contingencies	Note 13 – Contingencies  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.  On July 8, 2013, the Company filed a Complaint for Declaratory Judgment (the “Complaint”) in the United States District Court for the Northern District of Illinois, Eastern Division (the “Illinois Court”). The case named as defendants the United Steel, Paper & Forestry, Rubber, Manufacturing, Energy, Allied Industrial & Services Workers International Union, AFL-CIO, CLC (the “USW”), as well as approximately 650 individual Retiree Defendants (as defined in the Complaint). On July 9, 2013, the USW and certain Retiree Defendants (collectively, the “Pennsylvania Plaintiffs”) filed a putative class action in the United States District Court for the Western District of Pennsylvania (the “Pennsylvania Court”), captioned as Zanghi, et al. v. FreightCar America, Inc., et al., Case No. 3:13-cv-146. Both of the complaints related to the Company’s decision to terminate welfare benefits previously provided to the Retiree Defendants.  On August 20, 2015, the Company reached a settlement agreement with the USW and the other plaintiffs. Pursuant to the settlement agreement, the parties agreed that (1) USW will create a voluntary employee’s beneficiary association trust fund (the “VEBA”) that will administer the payment of health and welfare benefits to class members and will be administered independently of the Company, (2) the Company will make a one-time contribution to the VEBA of $31,450 , (3) the Company will pay an award for plaintiffs’ attorneys’ fees in the amount of $1,300 , (4) if the Company fails to make the required payments to the VEBA prior to February 16, 2016, interest on the unpaid amounts will accrue at a rate of 5% per annum, subject to a cap of $250 , and (5) class members will fully and finally release all claims against the Company in accordance with the terms of the settlement agreement. The Pennsylvania Court granted final approval of the settlement on January 19, 2016. The plaintiffs had until February 18, 2016 to file an appeal of the court order granting final approval of the settlement. On February 17, 2016, certain class members requested a 30-day extension to file an appeal, which the Pennsylvania Court denied on February 22, 2016. The Company made the cash settlement payment of $31,616 (including $166 of interest) on March 25, 2016.  On April 17, 2015 and September 30, 2015, National Steel Car Limited (“NSC”) filed Complaints for Patent Infringement against the Company in the United States District Court for the Northern District of Illinois (Eastern Division) in Chicago, Illinois. The complaints assert five United States patents against certain aggregate gondola freight cars sold to Martin-Marietta Materials, Inc. and Progress Rail Services. The complaints seek injunctive relief and an unspecified amount of damages. On January 29, 2016, NSC amended the complaints, alleging that 18 offers to sell made by the Company also infringed NSC’s patents. The Company filed its answer to NSC’s amended complaint on February 16, 2016, responding to NSC’s newly raised allegations and adding new affirmative defenses as well as counterclaims for non-infringement and invalidity. The Company also filed Inter Partes Review petitions in March 2016 with the U.S. Patent and Trademark Office’s Patent Trial and Appeal Board for two of the five asserted patents. The Company believes that the complaints are without merit and intends to vigorously defend against the allegations. While the ultimate outcome of these proceedings cannot be determined at this time, it is the opinion of management that the resolution of these actions will not have a material adverse effect on the Company’s financial position, results of operations or cash flows.  In addition to the foregoing, the Company is involved in certain other pending and threatened legal proceedings, including commercial disputes and workers’ compensation and employee matters arising out of the conduct of its business. While the ultimate outcome of these other legal proceedings cannot be determined at this time, it is the opinion of management that the resolution of these other actions will not have a material adverse effect on the Company’s financial condition, results of operations or cash flows.

Earnings Per Share

Earnings Per Share	3 Months Ended
	Mar. 31, 2016
Earnings Per Share [Abstract]
Earnings Per Share	Note 14 – Earnings Per Share  Shares used in the computation of the Company’s basic and diluted earnings per common share are reconciled as follows:     Three Months Ended  March 31,  2016 2015  Weighted average common shares outstanding 12,252,131 12,020,622  Dilutive effect of employee stock options and nonvested share awards - -  Weighted average diluted common shares outstanding 12,252,131 12,020,622    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 March 31, 2016 and 2015, 595,722 and 881,619 shares, respectively, were not included in the weighted average common shares outstanding calculation as they were anti-dilutive.

Basis of Presentation (Policy)

Basis of Presentation (Policy)	3 Months Ended
	Mar. 31, 2016
Basis of Presentation [Abstract]
Basis of Presentation [Policy Text Block]	The accompanying condensed consolidated financial statements include the accounts of FreightCar America, Inc. and 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 months ended March 31, 2016 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 2015 year-end balance sheet data was derived from the audited financial statements as of December 31, 2015. 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, 2015.

Recent Accounting Pronounceme23

Recent Accounting Pronouncements (Policy)	3 Months Ended
	Mar. 31, 2016
Recent Accounting Pronouncements [Abstract]
Recent Accounting Pronouncements [Policy Text Block]	In March 2016, the Financial Accounting Standards Board (the “FASB”) issued Accounting Standards Update (“ASU”) 2016-09, Compensation – Stock Compensation (Topic 718) Improvements to Employee Share-Based Payment Accounting, to simplify the accounting for stock compensation. The ASU focuses on income tax accounting, award classification, estimating forfeitures and cash flow presentation. This standard is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2016, with early adoption permitted. The Company is currently evaluating the impact that this guidance will have on its consolidated financial statements and related disclosures.  In February 2016, the FASB issued ASU 2016-02, Leases (Topic 842), which requires a lessee to record a right-of-use asset and a lease liability for all leases with a term greater than twelve months regardless of whether the lease is classified as an operating lease or a financing lease. Leases with a term of twelve months or less will be accounted for in a similar manner to existing guidance for operating leases. This standard is effective for fiscal years beginning after December 15, 2018, including interim periods within those fiscal years. Early adoption is permitted. Entities are required to use a modified retrospective approach for leases that exist or are entered into after the beginning of the earliest comparative period in the financial statements. The Company is currently assessing the impact of this standard on the Company’s financial position, results of operations and cash flows. In July 2015, the FASB issued ASU 2015-11, Inventory (Topic 330), which requires entities to measure most inventory at the lower of cost and net realizable value, thereby simplifying the current guidance under which an entity must measure inventory at the lower of cost or market. Under ASU 2015-11, inventory is measured at the lower of cost and net realizable value, which eliminates the need to determine replacement cost and evaluate whether it is above the ceiling (net realizable value) or below the floor (net realizable value less normal profit margin). ASU 2015-11 defines net realizable value as the estimated selling prices in the ordinary course of business, less reasonably predictable costs of completion, disposal and transportation. This standard is effective prospectively for annual reporting periods beginning after December 15, 2016 (early adoption is permitted). The Company is currently evaluating the impact that this guidance will have on its consolidated financial statements and related disclosures. In April 2015, the FASB issued ASU 2015-03, Simplifying the Presentation of Debt Issuance Costs, which changes the presentation of debt issuance costs in financial statements. ASU 2015-03 requires an entity to present such costs in the balance sheet as a direct deduction from the related debt liability rather than as an asset. Amortization of the debt issuance costs will continue to be reported as interest expense. This standard is effective retrospectively for annual reporting periods beginning after December 15, 2016 (early adoption is permitted). The adoption of these changes is not expected to have a material impact on the consolidated financial position, results of operations or cash flows of the Company. In February 2015, the FASB issued ASU 2015-02, Consolidation (Topic 810) Amendments to the Consolidation Analysis, which changes the analysis that a reporting entity must perform to determine whether it should consolidate certain types of legal entities. All legal entities are subject to reevaluation under the revised consolidation model. The new guidance affects the following areas: (1) limited partnerships and similar legal entities; (2) evaluating fees paid to a decision maker or a service provider as a variable interest; (3) the effect of fee arrangements on the primary beneficiary determination; (4) the effect of related parties on the primary beneficiary determination; and (5) certain investment funds. This standard is effective for fiscal years beginning after December 15, 2015 and interim periods within those fiscal years. The adoption of these changes did not have a material impact on the consolidated financial position, results of operations or cash flows of the Company. In May 2014, the FASB issued ASU No. 2014-09, Revenue from Contracts with Customers , which was further clarified in March 2016. The ASU outlines a single comprehensive model for entities to use in accounting for revenue arising from contracts with customers and supersedes most prior revenue recognition guidance, including industry-specific guidance. The ASU is based on the principle that an entity should recognize revenue to depict the transfer of goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. The ASU also requires additional disclosure about the nature, amount, timing and uncertainty of revenue and cash flows arising from customer contracts, including significant judgments and changes in judgments and assets recognized from costs incurred to fulfill a contract. Entities have the option of using either a full retrospective or a modified retrospective approach for the adoption of the new standard. The ASU is effective for annual reporting periods beginning after December 15, 2017 and early adoption as of December 15, 2016 is permitted. The Company is currently assessing the impact of this standard on the Company’s financial position, results of operations and cash flows.

Segment Information (Policy)

Segment Information (Policy)	3 Months Ended
	Mar. 31, 2016
Segment Information [Abstract]
Segment Information [Policy]	On September 30, 2015, the Company sold its railcar repair and maintenance services business. Through September 30, 2015, the Company’s operations comprised two reportable segments, Manufacturing and Services. As of October 1, 2015, 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 rebuilds. The Company’s Parts operating segment is not expected to be of continuing significance for separate reporting and has been combined with corporate and other non-operating activities as Corporate and Other. Prior period segment information has been recast to include general railcar repair and maintenance and inspections and parts sales in 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 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 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.

State and Local Incentives (Pol

State and Local Incentives (Policy)	3 Months Ended
	Mar. 31, 2016
State and Local Incentives [Abstract]
State and Local Incentives [Policy Text Block]	The Company records state and local incentives when there is reasonable assurance that the incentive will be received and the Company is able to comply with the conditions attached to the incentives received. State incentives related to assets are recorded as deferred income and recognized on a straight-line basis over the useful life of the related assets.

Stock-Based Compensation (Polic

Stock-Based Compensation (Policy)	3 Months Ended
	Mar. 31, 2016
Stock-Based Compensation [Abstract]
Compensation Related Costs, Policy [Policy Text Block]	The Company recognizes stock-based compensation expense for stock option awards based on the fair value of the award on the grant date using the Black-Scholes option valuation model. Expected life in years for all stock options awards was determined using the simplified method. The Company believes that it is appropriate to use the simplified method in determining the expected life for options because the Company does not have sufficient historical exercise data to provide a reasonable basis upon which to estimate the expected term for stock options. Expected volatility was based on the historical volatility of the Company’s stock. The risk-free interest rate was based on the U.S. Treasury bond rate for the expected life of the option. The expected dividend yield was based on the latest annualized dividend rate and the current market price of the underlying common stock on the date of the grant. The Company recognizes stock-based compensation for restricted stock awards over the vesting period based on the fair market value of the stock on the date of the award, calculated as the average of the high and low trading prices for the Company’s common stock on the award date.

Segment Information (Tables)

Segment Information (Tables)	3 Months Ended
	Mar. 31, 2016
Segment Information [Abstract]
Schedule of Segment Reporting Information, by Segment [Table Text Block]	  Three Months Ended  March 31,  2016 2015  Revenues:  Manufacturing $ 146,071 $ 85,097  Corporate and Other 2,519 7,707  Consolidated revenues $ 148,590 $ 92,804   Operating income (loss):  Manufacturing $ 12,782 $ 1,858  Corporate and Other (1) 6,813 (4,961)  Consolidated operating income (loss) 19,595 (3,103)  Consolidated interest expense and deferred financing costs (45) (70)  Consolidated other income 81 52  Consolidated income (loss) before income taxes $ 19,631 (3,121)   Depreciation and amortization:  Manufacturing 2,106 1,446  Corporate and Other 513 778  Consolidated depreciation and amortization $ 2,619 $ 2,224   Capital expenditures:  Manufacturing $ 2,376 $ 4,064  Corporate and Other 71 244  Consolidated capital expenditures $ 2,447 $ 4,308 
Reconciliation of Assets from Segment to Consolidated [Table Text Block]	 March 31, December 31,  2016 2015  Assets:  Manufacturing $ 242,625 $ 238,841  Corporate and Other 112,975 133,341  Total operating assets 355,600 372,182  Consolidated income taxes receivable 9,241 -  Consolidated deferred income taxes, long-term 11,560 34,722  Consolidated assets $ 376,401 $ 406,904 (1) Results for the three months ended March 31, 2016 included a $14,306 gain on the settlement of a postretirement benefit plan obligation, net of plaintiffs’ attorneys’ fees (see note 12).

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	3 Months Ended
	Mar. 31, 2016
Fair Value Measurements [Abstract]
Fair Value, Assets Measured on Recurring Basis [Table Text Block]	 Recurring Fair Value Measurements As of March 31, 2016  Level 1 Level 2 Level 3 Total  ASSETS:  Cash equivalents $ 145 $ - $ - $ 145  Restricted certificates of deposit $ 5,168 $ - $ - $ 5,168  Escrow receivable $ - $ - $ 1,910 $ 1,910      Recurring Fair Value Measurements As of December 31, 2015  Level 1 Level 2 Level 3 Total  ASSETS:  Cash equivalents $ 33,150 $ - $ - $ 33,150  Restricted certificates of deposit $ 6,896 $ - $ - $ 6,896  Escrow receivable $ - $ - $ 1,910 $ 1,910 

Inventories (Tables)

Inventories (Tables)	3 Months Ended
	Mar. 31, 2016
Inventories [Abstract]
Schedule of Inventory Current [Table Text Block]	  March 31, December 31,  2016 2015   Work in process $ 127,658 $ 108,099  Finished new railcars 4,393 2,538  Parts inventory 4,312 4,717  Total inventories, net $ 136,363 $ 115,354 

Leased Railcars (Tables)

Leased Railcars (Tables)	3 Months Ended
	Mar. 31, 2016
Leased Railcars [Abstract]
Future Minimum Rental Revenues On Leases [Table Text Block]	  Nine months ending December 31, 2016 $ 1,280  Year ending December 31, 2017 1,706  Year ending December 31, 2018 1,118  Year ending December 31, 2019 1,001  Year ending December 31, 2020 1,001  Thereafter 275  $ 6,381 

State and Local Incentives (Tab

State and Local Incentives (Tables)	3 Months Ended
	Mar. 31, 2016
State and Local Incentives [Abstract]
Changes in Deferred income from state incentives [Table Text Block]	  Three Months Ended  March 31,   2016 2015   Balance at the beginning of the period $ 14,318 $ -  State and local incentives received during the period - 4,907  Recognition of state and local incentives as reduction of cost of sales (532) (175)  Balance at the end of the period, including current portion $ 13,786 $ 4,732 

Accumulated Other Comprehensi32

Accumulated Other Comprehensive Income (Loss) (Tables)	3 Months Ended
	Mar. 31, 2016
Accumulated Other Comprehensive Income (Loss) [Abstract]
Schedule of changes in accumulated other comprehensive income (loss) [Table Text Block]	 Pre-Tax Tax Net of Tax  Three months ended March 31, 2016  Pension liability activity:  Reclassification adjustment for amortization of net loss (pre-tax cost of sales of $(10) and selling, general and administrative expenses of $135 ) $ 125 $ 44 $ 81  Postretirement liability activity:  Actuarial loss (1,689) (594) (1,095)  Settlement gain 37,190 13,076 24,114  Reclassification adjustment for settlement income (pre-tax gain on settlement of postretirement benefit plan obligation) (15,606) (5,487) (10,119)  Reclassification adjustment for amortization of net loss (pre-tax cost of sales of $96 and selling, general and administrative expenses of $12 ) 108 39 69  Reclassification adjustment for amortization of prior service cost (pre-tax cost of sales of $4 ) 4 1 3  $ 20,132 $ 7,079 $ 13,053             Pre-Tax Tax Net of Tax  Three months ended March 31, 2015  Pension liability activity:  Reclassification adjustment for amortization of net loss (pre-tax cost of sales of $83 and selling, general and administrative expenses of $27 ) $ 110 $ 47 $ 63  Postretirement liability activity:  Reclassification adjustment for amortization of net loss (pre-tax cost of sales of $142 and selling, general and administrative expenses of $20 ) 162 66 96  Reclassification adjustment for amortization of prior service cost (pre-tax cost of sales of $9 and selling, general and administrative expenses of $1 ) 10 4 6  $ 282 $ 117 $ 165 
Components of accumulated other comprehensive loss [Table Text Block]	  March 31, December 31,  2016 2015   Unrecognized pension cost, net of tax of $6,385 and $6,429 $ (10,403) $ (10,484)  Unrecognized postretirement income (cost), net of tax of $573 and $6,461 2,378 (10,594)  $ (8,025) $ (21,078) 

Employee Benefit Plans (Tables)

Employee Benefit Plans (Tables)	3 Months Ended
	Mar. 31, 2016
Pension Benefits [Member]
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Components of net periodic benefit cost (benefit) [Table Text Block]	  Three Months Ended  March 31,  Pension Benefits 2016 2015  Interest cost $ 582 $ 580  Expected return on plan assets (686) (761)  Amortization of unrecognized net loss 125 110  $ 21 $ (71) 
Postretirement Benefit Plan [Member]
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Components of net periodic benefit cost (benefit) [Table Text Block]	  Three Months Ended  March 31,  Postretirement Benefit Plan 2016 2015  Service cost $ 15 $ 17  Interest cost 738 743  Settlement income (15,606) -  Amortization of prior service cost 4 10  Amortization of unrecognized net loss 108 162  $ (14,741) $ 932 

Earnings Per Share (Tables)

Earnings Per Share (Tables)	3 Months Ended
	Mar. 31, 2016
Earnings Per Share [Abstract]
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]	  Three Months Ended  March 31,  2016 2015  Weighted average common shares outstanding 12,252,131 12,020,622  Dilutive effect of employee stock options and nonvested share awards - -  Weighted average diluted common shares outstanding 12,252,131 12,020,622 

Segment Information (Narrative)

Segment Information (Narrative) (Details) - segment	3 Months Ended	9 Months Ended
	Mar. 31, 2016	Sep. 30, 2015
Segment Information [Abstract]
Number of Operating Segments	2
Number of Reportable Segments	1	2

Segment Information (Schedule o

Segment Information (Schedule of Segment Reporting Information, by Segment) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016		Mar. 31, 2015
Segment Reporting Information [Line Items]
Revenues	$ 148,590		$ 92,804
Operating income (loss)	19,595		(3,103)
Gain on settlement of postretirement benefit plan obligation, net of plaintiffs' attorneys' fees	14,306		0
Consolidated interest expense and deferred financing costs	(45)		(70)
Consolidated other income	81		52
Consolidated income (loss) before income taxes	19,631		(3,121)
Segment depreciation and amortization	2,619		2,224
Capital expenditures	2,447		4,308
Manufacturing [Member]
Segment Reporting Information [Line Items]
Revenues	146,071		85,097
Operating income (loss)	12,782		1,858
Segment depreciation and amortization	2,106		1,446
Capital expenditures	2,376		4,064
Corporate and Other [Member]
Segment Reporting Information [Line Items]
Revenues	2,519		7,707
Operating income (loss)	6,813	[1]	(4,961)
Gain on settlement of postretirement benefit plan obligation, net of plaintiffs' attorneys' fees	14,306
Segment depreciation and amortization	513		778
Capital expenditures	$ 71		$ 244
[1]	Results for the three months ended March 31, 2016 included a $14,306 gain on the settlement of a postretirement benefit plan obligation, net of plaintiffs' attorneys' fees (see note 12).

Segment Information (Reconcilia

Segment Information (Reconciliation of Assets from Segment to Consolidated) (Details) - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015
Segment Reporting Information [Line Items]
Total operating assets	$ 355,600	$ 372,182
Consolidated income taxes receivable	9,241	0
Consolidated deferred income taxes, long-term	11,560	34,722
Total assets	376,401	406,904
Manufacturing [Member]
Segment Reporting Information [Line Items]
Total operating assets	242,625	238,841
Corporate and Other [Member]
Segment Reporting Information [Line Items]
Total operating assets	$ 112,975	$ 133,341

Fair Value Measurements (Financ

Fair Value Measurements (Financial Assets And Liabilities That Were Recorded At Fair Value On A Recurring Basis) (Details) - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	$ 145	$ 33,150
Restricted certificates of deposit	5,168	6,896
Escrow receivable	1,910	1,910
Non-financial assets measured on a non-recurring basis	0	0
Fair Value, Inputs, Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	145	33,150
Restricted certificates of deposit	5,168	6,896
Escrow receivable	0	0
Fair Value, Inputs, Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	0	0
Restricted certificates of deposit	0	0
Escrow receivable	0	0
Fair Value, Inputs, Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	0	0
Restricted certificates of deposit	0	0
Escrow receivable	$ 1,910	$ 1,910

Marketable Securities (Details)

Marketable Securities (Details) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2016	Dec. 31, 2015
Held-to-maturity Securities, Current	$ 20,989	$ 26,951
Maximum [Member]
Marketable securities, original maturity	1 year	1 year
Minimum [Member]
Marketable securities, original maturity	90 days	90 days

Inventories (Narrative) (Detail

Inventories (Narrative) (Details) - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015
Inventories [Abstract]
Inventory valuation reserves	$ 4,137	$ 3,793

Inventories (Schedule of Invent

Inventories (Schedule of Inventory Current) (Details) - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015
Inventories [Abstract]
Work in process	$ 127,658	$ 108,099
Finished new railcars	4,393	2,538
Parts inventory	4,312	4,717
Total inventories, net	$ 136,363	$ 115,354

Leased Railcars (Narrative) (De

Leased Railcars (Narrative) (Details) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2016	Dec. 31, 2015
Railcars Available for Lease, net	$ 24,544	$ 24,729
Railcars Available for Lease, Cost	27,954	27,954
Railcars Available for Lease, Accumulated Depreciation	$ 3,410	$ 3,225
Lease Utilization Rate	73.00%	73.00%
Maximum [Member]
Lease Term	6 years

Leased Railcars (Future Minimum

Leased Railcars (Future Minimum Rental Revenues on Leases) (Details) $ in Thousands	Mar. 31, 2016USD ($)
Leased Railcars [Abstract]
Nine months ending December 31, 2016	$ 1,280
Year ending December 31, 2017	1,706
Year ending December 31, 2018	1,118
Year ending December 31, 2019	1,001
Year ending December 31, 2020	1,001
Thereafter	275
Total Future Minimum Rental Revenues on Leases	$ 6,381

State and Local Incentives (Det

State and Local Incentives (Details) - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Dec. 31, 2015
State and Local Incentives [Abstract]
State incentives received during the year	$ 0	$ 4,907	$ 15,733

State and Local Incentives (Cha

State and Local Incentives (Changes in Deferred Income from State Incentives) (Details) - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Dec. 31, 2015
State and Local Incentives [Abstract]
Balance at the beginning of the period	$ 14,318	$ 0	$ 0
State incentives received during the year	0	4,907	15,733
Recognition of state and local incentives as reduction of cost of sales	(532)	(175)
Balance at the end of the year, including current portion	$ 13,786	$ 4,732	$ 14,318

Accumulated Other Comprehensi46

Accumulated Other Comprehensive Income (Loss) (Changes in Accumulated Other Comprehensive Income) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Accumulated Other Comprehensive Income (Loss) [Abstract]
Pension Liability Activity, Reclassfication Adjustment for Amortization of Net Loss, Before Tax	$ 125	$ 110
Pension Liability Adjustment, Reclassification Adjustment for Amortization of Net Loss, Tax Effect	44	47
Pension Liability Activity, Reclassification Adjustment for Amortization of Net Loss, Net of Tax	81	63
Postretirement Liability Activity, Actuarial Loss, Before Tax	(1,689)
Postretirement Liability Activity, Actuarial Loss, Tax Effect	(594)
Postretirement Liability Activity, Actuarial Loss, Net of Tax	(1,095)
Postretirement Liability Activity, Settlement Gain, Before Tax	37,190
Postretirement Liability Activity, Settlement Gain, Tax Effect	13,076
Postretirement Liability Activity, Settlement Gain, Net of Tax	24,114
Postretirement Liability Activity, Reclassification Adjustment for Settlement Income, Before Tax	(15,606)
Postretirement Liability Activity, Reclassification Adjustment for Settlement Income, Tax Effect	(5,487)
Postretirement Liability Activity, Reclassification Adjustment for Settlement Income, Net of Tax	(10,119)
Postretirement liability Activity, Reclassification Adjustment for Amortization of Net Loss, Before Tax	108	162
Postretirement Liability Activity, Reclassification Adjustment for Amortization of Net Loss, Tax Effect	39	66
Postretirement Liability Activity, Adjustment for Amortization of Net Loss, Net of Tax	69	96
Postretirement Liability Activity, Reclassification Adjustment for Amortization of Prior Service Cost, Before Tax	4	10
Postretirement Liability Activity, Reclassfication Adjustment for Amortization of Prior Service Cost, Tax Effect	1	4
Postretirement Liability Activity, Reclassification Adjustment for Amortization of Prior Service Cost, Net of Tax	3	6
Before tax	20,132	282
Tax	7,079	117
Net of tax	$ 13,053	$ 165

Accumulated Other Comprehensi47

Accumulated Other Comprehensive Income (Loss) (Components of AOCI) (Details) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2016	Dec. 31, 2015
Accumulated Other Comprehensive Income (Loss) [Abstract]
Unrecognized Pension Cost, Net of Tax	$ (10,403)	$ (10,484)
Unrecognized Postretirement income (cost), Net of Tax	2,378	(10,594)
Accumulated Other Comprehensive Income (Loss), Net of Tax, Total	(8,025)	(21,078)
Unrecognized Pension cost, Tax Amount	6,385	6,429
Unrecognized Postretirement cost, Tax Amount	$ 573	$ 6,461

Accumulated Other Comprehensi48

Accumulated Other Comprehensive Income (Loss) (Reclassifications out of Accumulated Other Comprehensive Income) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Cost of sales	$ 132,703	$ 88,251
Selling, general and administrative expenses, pre-tax	10,598	8,843
Accumulated Defined Benefit Plans Adjustment, Amortization of Unrecognized Net Loss [Member]
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Cost of sales	(10)	83
Selling, general and administrative expenses, pre-tax	135	27
Accumulated Postretirement Plans Adjustment, Amortization of Unrecognized Net Loss [Member]
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Cost of sales	96	142
Selling, general and administrative expenses, pre-tax	12	20
Accumulated Postretirement Plans Adjustment, Amortization of Prior Service Cost [Member] | Reclassification out of Accumulated Other Comprehensive Income [Member]
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Cost of sales	$ 4	9
Selling, general and administrative expenses, pre-tax		$ 1

Stock-Based Compensation (Narra

Stock-Based Compensation (Narrative) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Stock-Based Compensation [Abstract]
Stock-based compensation	$ 229	$ 603
Unrecognized compensation expense	$ 1,259
Remaining requisite service period	35 months

Employee Benefit Plans (Narrati

Employee Benefit Plans (Narrative) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Cash payment for settlement of postretirement benefit plan obligation	$ 31,616	$ 0
Postretirement benefit plan obligation settlement interest	166
Defined Benefit Plan, Recognized Net Gain (Loss) Due to Settlements, Net of Plaintiffs' Attorneys' Fees	14,306	0
Attorneys' fees	1,300
Reduction in postretirement benefit obligation	68,806
Defined Contribution Plan, Cost Recognized	686	602
Pension Benefits [Member]
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Employer contributions	0	0
Expected total contributions for current fiscal year	0
Postretirement Benefit Plan [Member]
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Employer contributions	112	$ 96
Expected total contributions for current fiscal year	$ 405

Employee Benefit Plans (Compone

Employee Benefit Plans (Components of Net Periodic Benefit Cost (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Settlement income	$ (15,606)	$ 0
Pension Benefits [Member]
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Interest cost	582	580
Expected return on plan assets	(686)	(761)
Amortization of unrecognized net loss	125	110
Net periodic (benefit) cost	21	(71)
Postretirement Benefit Plan [Member]
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Service cost	15	17
Interest cost	738	743
Settlement income	(15,606)	0
Amortization of prior service cost	4	10
Amortization of unrecognized net loss	108	162
Net periodic (benefit) cost	$ (14,741)	$ 932

Contingencies (Narrative) (Deta

Contingencies (Narrative) (Details) - USD ($) $ in Thousands	Mar. 25, 2016	Aug. 20, 2015	Mar. 31, 2016	Mar. 31, 2015
Attorneys' fees			$ 1,300
Cash payment for settlement of postretirement benefit plan obligation			31,616	$ 0
Postretirement benefit plan obligation settlement interest			$ 166
Freight Car America v USW [Member]
Defined Benefit Plan, Settlements, Benefit Obligation		$ 31,450
Attorneys' fees		$ 1,300
Litigation Settlement Interest Rate		5.00%
Cash payment for settlement of postretirement benefit plan obligation	$ 31,616
Postretirement benefit plan obligation settlement interest	$ 166
Freight Car America v USW [Member] | Maximum [Member]
Postretirement benefit plan obligation settlement interest		$ 250

Earnings Per Share (Narrative)

Earnings Per Share (Narrative) (Details) - shares	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Earnings Per Share [Abstract]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	595,722	881,619

Earnings Per Share (Weighted Av

Earnings Per Share (Weighted Average Common Shares Outstanding) (Details) - shares	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Earnings Per Share [Abstract]
Weighted average common shares outstanding	12,252,131	12,020,622
Dilutive effect of employee stock options and nonvested share awards	0	0
Weighted average diluted common shares outstanding	12,252,131	12,020,622