FreightCar America (RAIL) 10-Q 3 May 18 2018 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Mar. 31, 2018	Apr. 27, 2018
Document and Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Fiscal Period Focus	Q1
Document Fiscal Year Focus	2,018
Document Period End Date	Mar. 31, 2018
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		12,444,073

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Mar. 31, 2018	Dec. 31, 2017
Current assets
Cash and cash equivalents	$ 65,255	$ 87,788
Restricted certificates of deposit	5,452	5,720
Marketable securities	52,288	42,917
Accounts receivable, net of allowance for doubtful accounts of $67 and $56, respectively	12,911	7,581
Inventories, net	46,685	45,292
Inventory on lease	14,736	5,550
Income taxes receivable	329	815
Other current assets	7,693	4,284
Total current assets	205,349	199,947
Property, plant and equipment, net	53,023	38,253
Railcars available for lease, net	23,140	23,434
Goodwill	21,521	21,521
Deferred income taxes, net	11,428	9,446
Other long-term assets	3,169	3,303
Total assets	317,630	295,904
Current liabilities
Accounts and contractual payables	26,273	23,329
Accrued payroll and other employee costs	2,147	1,809
Reserve for workers' compensation	3,749	3,394
Accrued warranty	9,041	8,062
Deferred income state and local incentives, current	2,219	2,219
Deferred rent, current	5,215	178
Other current liabilities	2,747	1,326
Total current liabilities	51,391	40,317
Accrued pension costs	5,480	5,763
Accrued postretirement benefits, less current portion	5,385	5,556
Deferred income state and local incentives, long-term	8,606	9,161
Deferred rent, long-term	20,292	2,988
Accrued taxes and other long-term liabilities	394	387
Total liabilities	91,548	64,172
Stockholders' equity
Common stock, $0.01 par value, 50,000,000 shares authorized, 12,731,678 shares issued at March 31, 2018 and December 31, 2017	127	127
Additional paid in capital	88,908	90,347
Treasury stock, at cost, 287,605 and 336,982 shares at March 31, 2018 and December 31, 2017, respectively	(10,398)	(12,555)
Accumulated other comprehensive loss	(7,531)	(7,567)
Retained earnings	154,976	161,380
Total stockholders' equity	226,082	231,732
Total liabilities and stockholders' equity	$ 317,630	$ 295,904

Condensed Consolidated Balance3

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Mar. 31, 2018	Dec. 31, 2017
Allowance for doubtful accounts	$ 67	$ 56
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	12,731,678	12,731,678
Treasury stock, shares at cost	287,605	336,982
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
	Mar. 31, 2018	Mar. 31, 2017
Condensed Consolidated Statements of Operations [Abstract]
Revenues	$ 82,973	$ 139,536
Cost of sales	83,569	129,730
Gross (loss) profit	(596)	9,806
Selling, general and administrative expenses	7,996	7,030
Restructuring and impairment charges	0	1,357
Operating (loss) income	(8,592)	1,419
Interest expense and deferred financing costs	(32)	(42)
Other income (expense)	381	(299)
(Loss) income before income taxes	(8,243)	1,078
Income tax (benefit) provision	(1,839)	440
Net (loss) income	$ (6,404)	$ 638
Net (loss) income per common share - basic	$ (0.51)	$ 0.05
Net (loss) income per common share - diluted	$ (0.51)	$ 0.05
Weighted average common shares outstanding - basic	12,306,011	12,269,555
Weighted average common shares outstanding - diluted	12,306,011	12,269,555
Dividends declared per common share		$ 0.09

Condensed Consolidated Stateme5

Condensed Consolidated Statements of Comprehensive (Loss) Income - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Condensed Consolidated Statements of Comprehensive (Loss) Income [Abstract]
Net (loss) income	$ (6,404)	$ 638
Other comprehensive income:
Pension liability adjustments, net of tax	88	77
Postretirement liability adjustments, net of tax	(52)	(49)
Other comprehensive income	36	28
Comprehensive (loss) income	$ (6,368)	$ 666

Condensed Consolidated Stateme6

Condensed 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
Cumulative effect of adoption of ASU 2016-09		$ 215			$ (215)
Balance at Dec. 31, 2016	$ 127	92,025	$ (14,583)	$ (8,163)	187,508	$ 256,914
Balance (Shares) at Dec. 31, 2016	12,731,678		(351,746)
Net (loss) income					638	638
Other comprehensive income				28		28
Restricted stock awards		(2,097)	$ 2,097
Restricted stock awards, shares			50,983
Forfeiture of restricted stock awards		142	$ (142)
Forfeiture of restricted stock awards, shares			(9,585)
Employee stock settlement			$ (14)			(14)
Employee stock settlement, shares			(999)
Stock-based compensation recognized		214				214
Cash dividends					(1,117)	(1,117)
Balance at Mar. 31, 2017	$ 127	90,499	$ (12,642)	(8,135)	186,814	256,663
Balance (Shares) at Mar. 31, 2017	12,731,678		(311,347)
Balance at Dec. 31, 2017	$ 127	90,347	$ (12,555)	(7,567)	161,380	231,732
Balance (Shares) at Dec. 31, 2017	12,731,678		(336,982)
Net (loss) income					(6,404)	(6,404)
Other comprehensive income				36		36
Restricted stock awards		(2,392)	$ 2,392
Restricted stock awards, shares			64,457
Forfeiture of restricted stock awards		117	$ (117)
Forfeiture of restricted stock awards, shares			(7,991)
Employee stock settlement			$ (118)			(118)
Employee stock settlement, shares			(7,089)
Stock-based compensation recognized		836				836
Balance at Mar. 31, 2018	$ 127	$ 88,908	$ (10,398)	$ (7,531)	$ 154,976	$ 226,082
Balance (Shares) at Mar. 31, 2018	12,731,678		(287,605)

Condensed Consolidated Stateme7

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Cash flows from operating activities
Net (loss) income	$ (6,404)	$ 638
Adjustments to reconcile net (loss) income to net cash flows (used in) provided by operating activities:
Net proceeds from Shoals transaction	2,655
Depreciation and amortization	2,550	2,337
Recognition of deferred income from state and local incentives	(555)	(555)
Gain on sale of railcars available for lease	38
Deferred income taxes	(1,992)	408
Stock-based compensation recognized	836	214
Other non-cash items, net	235	84
Changes in operating assets and liabilities:
Accounts receivable	(5,330)	1,630
Inventories	1,930	20,101
Inventory on lease	(9,186)	(8,391)
Other assets	(3,323)	(1,481)
Accounts and contractual payables	2,284	(1,170)
Accrued payroll and employee benefits	338	1,098
Income taxes receivable/payable	650	48
Accrued warranty	979	267
Other liabilities	1,223	547
Accrued pension costs and accrued postretirement benefits	(418)	185
Net cash flows (used in) provided by operating activities	(13,490)	15,960
Cash flows from investing activities
Purchase of restricted certificates of deposit	(1,040)	(4,668)
Maturity of restricted certificates of deposit	1,308	1,558
Purchase of securities held to maturity	(41,244)	(10,995)
Proceeds from maturity of securities	32,005
Purchase of property, plant and equipment	(182)	(296)
Proceeds from sale of property, plant and equipment and railcars available for lease	228	119
State and local incentives received		1,410
Net cash flows used in investing activities	(8,925)	(12,872)
Cash flows from financing activities
Employee stock settlement	(118)	(14)
Cash dividends paid to stockholders		(1,117)
Net cash flows used in financing activities	(118)	(1,131)
Net (decrease) increase in cash and cash equivalents	(22,533)	1,957
Cash, cash equivalents and restricted cash equivalents at beginning of period	87,788	96,110
Cash, cash equivalents and restricted cash equivalents at end of period	65,255	98,067
Supplemental cash flow information
Interest paid	18	$ 23
Income tax refunds received	$ 487

Description of the Business

Description of the Business	3 Months Ended
	Mar. 31, 2018
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 Mauritius Ltd. (“Mauritius”), FreightCar Rail Services, LLC (“FCRS”), FreightCar Short Line, Inc. (“FCSL”), 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 Mauritius, which is incorporated in Mauritius, and 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, 2018
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 , 201 8 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 201 7 year-end balance sheet data was derived from the audited financial statements as of December 31, 201 7 . 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, 201 7 .

Recent Accounting Pronouncement

Recent Accounting Pronouncements	3 Months Ended
	Mar. 31, 2018
Recent Accounting Pronouncements [Abstract]
Recent Accounting Pronouncements	Note 3 – Recent Accounting Pronouncements  In February 2018, the Financial Accounting Standards Board (the “FASB”) issued Accounting Standards Update (“ASU”) 2018-02, Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income, which permits entities to reclassify tax effects stranded in accumulated other comprehensive income as a result of the recent U.S. tax reform to retained earnings. Companies that elect to reclassify these amounts must reclassify stranded tax effects for all items accounted for in accumulated other comprehensive income. ASU 2018-02 is effective for fiscal years beginning after December 15, 2018, and interim periods within those fiscal years. Early adoption is permitted. The Company is currently assessing the impact of this standard on its consolidated financial statements and related disclosures.  On January 1, 2018 , the Company adopted ASU 2017-07, Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost . This standard requires entities to present non-service cost components of net periodic benefit cost in a caption below operating income (loss) and provides that only service cost is eligible to be capitalized in inventory or construction of an asset. This standard requires retrospective application of the change in the statement of operations and prospective application for the capitalization of service cost in assets. Utilizing the practical expedient approach permitted under the standard, based on amounts previously disclosed, the Company reclassified non-service components of net periodic benefit cost from cost of sales, selling, general and administrative expenses and restructuring and impairment charges to other income (expense) i n the Condensed Consolidated Statement of Operations . The service cost component is included in cost of sales and selling, general and administrative expenses.  The following table discloses the amount of net periodic benefit cost reclassified as other income (expense) for the prior period presented in the condensed consolidated financial statements as a result of the adoption of ASU 2017-07:     Three months ended March 31, 2017  As reported Reclassifications As adjusted   Cost of sales $ 129,646 $ 84 $ 129,730  Selling, general and administrative expenses $ 7,011 $ 19 $ 7,030  Restructuring and impairment charges $ 1,777 $ (420) $ 1,357  Other income (expense) $ 18 $ (317) $ (299)   On January 1, 2018, the Company adopted the changes required under ASU 2016-18, Statement of Cash Flows (Topic 230) Restricted Cash . The ASU requires that a statement of cash flows explain the change during the period in the total of cash, cash equivalents, restricted cash and restricted cash equivalents. As a result, restricted cash and restricted cash equivalents are included in beginning-of-period and end-of-period total amounts shown on the statement of cash flows and changes in restricted cash and restricted cash equivalents are no longer included in cash flows from investing activities. The Company has applied these changes in presentation retrospectively, which resu lted in an increase of $3,360 in the beginning-of-period balance and an increase of $3,360 in net cash flows used in investing activities in the Condensed Consolidated Statement of Cash Flows for the three months ended March 31, 2017. Restricted cash and restricted certificates of deposit are used to collateralize standby letters of credit with respect to performance guarantees and to suppor t the Company’s worker s ’ compensation insurance claims. Restricted certificates of deposit with original maturities of up to 90 days are considered restricted cash equivalents and are included in beginning-of-period and end-of-period total amounts shown on the statement of cash flows. Cash, cash equivalents and restricted cash equivalents in the Condensed Consolidated Statement of Cash Flows as of December 31, 2017 and March 31, 2018 include only cash and cash equivalents as there are no restricted cash equivalents included in the restricted certificates of deposit balances in the Condensed Consolidated Balance Sheet s as of those dates.  In January 2017, the FASB issued ASU 2017-04, Intangibles – Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment. Topic 350 currently requires an entity to perform a two-step test to determine the amount, if any, of goodwill impairment. The amendment in ASU 2017-04 removes the second step of the test. An entity will apply a one-step quantitative test and record the amount of goodwill impairment as the excess of a reporting unit’s carrying amount over its fair value, not to exceed the total amount of goodwill allocated to the reporting unit. This standard is effective for annual or interim goodwill impairment tests in fiscal years beginning after December 15, 2019 and early adoption is permitted. The Company is currently assessing the impact of this standard 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 . W hile the C ompany is still evaluating the impact that ASU 2016-02 will have on its consolidated financial statements, the new standard will reflect a significant increase in both assets and liabilities due to the requirement to recognize right-of-use assets and lease liabilities on the balance sheet for facility and equipment leases.  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 for annual reporting periods beginning after December 15, 2016 is permitted. The Company adopted ASU 2014-09 effective January 1, 2018 using the modified retrospective method of adoption. Adoption of this standard did not have any significant impact on the Company’s revenue recognition methods or costs to fulfill its contracts. Additionally, no significant changes in business processes or systems were required as a result of the adoption of this new standard.

Revenue Recognition

Revenue Recognition	3 Months Ended
	Mar. 31, 2018
Revenue Recognition [Abstract]
Revenue Recognition	 Note 4 – Revenue Recognition  The following table disaggregates the Company’s revenues by major source:    Three months ended  March 31,  2018 2017   Railcar sales $ 79,079 $ 137,085  Parts sales 3,212 1,763  Other sales 56 54  Revenues from contracts with customers 82,347 138,902  Leasing revenues 626 634  Total revenues $ 82,973 $ 139,536   The Company generally recognizes revenue at a point it time, as it satisfies a performance obligation, by transferring control over a product or service to a customer. Revenue is measured at the transaction price, which is based on the amount of consideration that the Company expects to receive in exchange for transferring the promised goods or services to the customer.  Railcar Sales  Performance obligations are typically completed and revenue is recognized for the sale of new and rebuilt railcars when a certificate of acceptance has been issued by the customer and title and risk of loss are transferred to the customer. At that time, the customer directs the use of, and obtains substantially all of the remaining benefits from, the asset. In certain sales contracts, the Company’s performance obligation includes transfer of the finished railcar to a specified railroad connection point. In these instances, the Company recognizes revenue from the sale when the railcar reaches the specified railroad connection point. When a railcar sales contract contains multiple performance obligations, the Company allocates the transaction price to the performance obligations based on the relative stand-alone selling price of the performance obligation determined at the inception of the contract based on an observable market price, expected cost plus margin or market price of similar items. The Company does not provide discounts or rebates in the normal course of business.  The Company provides warranties in connection with the sale of new and rebuilt railcars. Warranty terms are based on the negotiated railcar sales contracts. The Company generally warrants that new railcars will be free from defects in material and workmanship under normal use and service identified for a period of up to five years from the time of sale. The Company also provides limited warranties with respect to certain rebuilt railcars. With respect to parts and materials manufactured by others and incorporated by the Company in its products, such parts and materials may be covered by the warranty provided by the original manufacturer. The Company does not provide its customers the option to purchase additional warranties and, therefore, the Company’s warranties are not considered a separate service or performance obligation.  As a practical expedient, the Company recognizes the incremental costs of obtaining contracts, such as sales commissions, as an expense when incurred since the amortization period of the asset that the Company otherwise would have recognized is one year or less.  Parts Sales  The Company sells forged, cast and fabricated parts for all of the railcars it produces, as well as those manufactured by others. Performance obligations are satisfied and the Company recognizes revenue from most parts sales when the parts are shipped to customers.  Leasing Revenue  The Company recognizes operating lease revenue on Inventory on Lease on a contractual basis and recognizes operating lease revenue on Railcars Available for Lease on a straight-line basis over the contract term. The Company recognizes revenue from the sale of Inventory on Lease on a gross basis in manufacturing sales and cost of sales if the sales process is completed within 12 months of the manufacture of the leased railcars. The Company recognizes revenue from the sale of Railcars Available for Lease on a net basis as Gain (Loss) on Sale of Railcars Available for Lease since the sale represents the disposal of a long-term operating asset.  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 March 31, 2018. 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 Condensed Consolidated Balance Sheet based on the timing of when the Company expects to recognize the related revenue. Deferred revenue and customer deposits included in other current liabilities and other long-term liabilities in the Company’s Condensed Consolidated Balance Sheet as of March 31, 2018 were not material.  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 the practical expedient in ASU 2014-09, Revenue from Contracts with Customers. The Company had no material remaining unsatisfied performance obligations as of March 31, 2018 with expected duration of greater than one year.

Segment Information

Segment Information	3 Months Ended
	Mar. 31, 2018
Segment Information [Abstract]
Segment Information	Note 5 – 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 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 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,  2018 2017  Revenues:  Manufacturing $ 79,733 $ 137,740  Corporate and Other 3,240 1,796  Consolidated Revenues $ 82,973 $ 139,536  Operating (Loss) Income:  Manufacturing $ (3,816) $ 7,249  Corporate and Other (4,776) (5,830)  Consolidated Operating (Loss) Income (8,592) 1,419  Consolidated interest expense and deferred financing costs (32) (42)  Consolidated other income (expense) 381 (299)  Consolidated (Loss) Income Before Income Taxes $ (8,243) $ 1,078  Depreciation and Amortization:  Manufacturing $ 2,484 $ 2,157  Corporate and Other 66 180  Consolidated Depreciation and Amortization $ 2,550 $ 2,337  Capital Expenditures:  Manufacturing (1) $ 141 $ 312  Corporate and Other 41 (16)  Consolidated Capital Expenditures $ 182 $ 296   (1) Excluding assets acquired as part of a business acquisition of $17.2 million on February 28, 2018.(see Note 16)          March 31, December 31,  2018 2017  Assets:  Manufacturing $ 166,284 $ 136,448  Corporate and Other 137,822 149,195  Total Operating Assets 304,106 285,643  Consolidated income taxes receivable 329 815  Consolidated deferred income taxes, long-term 11,428 9,446  Consolidated income taxes receivable, long-term 1,767 -  Consolidated Assets $ 317,630 $ 295,904 

Fair Value Measurements

Fair Value Measurements	3 Months Ended
	Mar. 31, 2018
Fair Value Measurements [Abstract]
Fair Value Measurements	Note 6 – 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 March 31, 2018  Level 1 Level 2 Level 3 Total  ASSETS:  Cash equivalents $ 38,497 $ - $ - $ 38,497  Restricted certificates of deposit $ 5,452 $ - $ - $ 5,452  Escrow receivable $ - $ - $ 1,420 $ 1,420         Recurring Fair Value Measurements As of December 31, 2017  Level 1 Level 2 Level 3 Total  ASSETS:  Cash equivalents $ 45,542 $ - $ - $ 45,542  Restricted certificates of deposit $ 5,720 $ - $ - $ 5,720  Escrow receivable $ - $ - $ 1,420 $ 1,420   Non-Recurring Fair Value Measurements As of December 31, 2017  Level 1 Level 2 Level 3 Total  ASSETS:  Property, plant and equipment $ - $ - $ $1,434 $ 1,434    T he sale of the Company’s railcar repair and maintenance services business on September 30, 2015 resulted in $1,960 of the aggregate purchase price being placed into escrow in order to secure the indemnification obligations of FCRS and FCSL. The fair market value of the remaining escrow receivable above represents the escrow balance of $1,470 as of each of March 31, 2018 and December 31, 2017 net of the fair value of the indemnification obligations, which was estimated using the discounted probability-weighted cash flow method . The carrying value of property, plant and equipment at the Company’s Johnstown, Pennsylvania administrative facility was reduced to its estimated fair market value during the third quarter of 2016, resulting in a non-cash impairment charge of $1,255 . Fair market value was estimated using the market approach using market data such as recent sales of comparable assets in active markets and estimated salvage values. The proceeds from sale of the facility during the first quarter of 2017 and the resulting gain on sale were not material.

Marketable Securities

Marketable Securities	3 Months Ended
	Mar. 31, 2018
Marketable Securities [Abstract]
Marketable Securities	Note 7 – Marketable Securities  The Company’s current investment policy is to invest in cash, certificates of deposit, U.S. T reasury securities, U.S. government agency obligations and money market funds invested in U.S. government securities. Marketable securities of $52,288 and $42,917 as of March 31, 2018 and December 31, 2017, respectively, consisted of U.S. T reasury 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 ma rket values and amortized costs.

Inventories

Inventories	3 Months Ended
	Mar. 31, 2018
Inventories [Abstract]
Inventories	Note 8 – Inventories  Inventories, net of reserve for excess and obsolete items, consist of the following:      March 31, December 31,  2018 2017   Work in process $ 43,454 $ 42,460  Finished new railcars - 85  Parts inventory 3,231 2,747  Total inventories, net $ 46,685 $ 45,292 Inventory on the Company’s Condensed Consolidated Balance S heets includes reserves of $6,448 and $6,160 relating to excess or slow-moving inventory for parts and work in process at March 31, 2018 and December 31, 201 7 , respectively.

Revolving Credit Facility

Revolving Credit Facility	3 Months Ended
	Mar. 31, 2018
Revolving Credit Facility [Abstract]
Revolving Credit Facility	Note 9 – Revolving Credit Facility On June 13, 2016, the Company amended the credit agreement, dated as of July 26, 2013 (as so amended, the “Credit Agreement”), by and among FreightCar and certain of its subsidiaries, as borrowers and guarantors (together, the “Borrowers”), and Bank of America, N.A., as lender, administrative agent, swingline lender and letter of credit issuer (the “Bank”) to, among other things, extend the term of the Credit Agreement to July 26, 2019 . As of March 31, 2018 and December 31, 2017 , the Company had no borrowings under the $50,000 senior secured revolving credit facility (the “ Revolving Credit Facility ”), provided under the Credit Agreement . As of March 31,2018 and December 31, 2017 , the C om pany had $5,452 in outstanding letters of credit under the Revolving Credit Facility and therefore had $44,548 available for borrowing under the Revolving Credit Facility.

Accumulated Other Comprehensive

Accumulated Other Comprehensive Income (Loss)	3 Months Ended
	Mar. 31, 2018
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 After-Tax  Three months ended March 31, 2018  Pension liability activity:  Reclassification adjustment for amortization of net loss (pre-tax other income (expense)) $ 113 $ 25 $ 88  Postretirement liability activity:  Reclassification adjustment for amortization of net gain (pre-tax other income (expense)) (70) (15) (55)  Reclassification adjustment for amortization of prior service cost (pre-tax other income (expense)) 4 1 3  $ 47 $ 11 $ 36     Pre-Tax Tax After-Tax  Three months ended March 31, 2017  Pension liability activity:  Reclassification adjustment for amortization of net loss (pre-tax other income (expense)) $ 119 $ 42 $ 77  Postretirement liability activity:  Reclassification adjustment for amortization of net gain (pre-tax other income (expense)) (80) (28) (52)  Reclassification adjustment for amortization of prior service cost (pre-tax other income (expense)) 4 1 3  $ 43 $ 15 $ 28          The components of accumulated other comprehensive loss consist of the following:      March 31, December 31,  2018 2017  Unrecognized pension cost, net of tax of $6,096 and $6,120 $ (9,618) $ (9,707)  Unrecognized postretirement income, net of tax of $519 and $533 2,087 2,140  $ (7,531) $ (7,567) 

Stock-Based Compensation

Stock-Based Compensation	3 Months Ended
	Mar. 31, 2018
Stock-Based Compensation [Abstract]
Stock-Based Compensation	Note 11 – Stock-Based Compensation  On January 12, 2018, the Company grante d non-qualified stock options to purchase 146,590 shares of our common stock to executives of the Company. The award features a performance earning vesting schedule whereby the stock options will vest if the average closing price per share of the Company’s stock over the trailing 90 calendar days (the “Threshold Stock Price”) exceeds the closing price per share of the Company’s stock on January 12, 2018 (the “Reference Stock Price”) as follows: 34% of the stock options will vest if the Threshold Stock Price exceeds the Reference Stock Price by $5.00 ; another 33% of the stock options will vest if the Threshold Stock Price exceeds the Reference Stock Price by $10.00 ; and the remaining 33% of the stock options will vest if the Threshold Stock Price exceeds the Reference Stock Price by $15.00 . Such stock price appreciation goals can be achieved at any point during the options’ ten -year contractual term. 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 Company recognizes stock-based compensation cost for stock options with market conditions over the derived service period of the stock options. The estimated fair value and derived service period for the stock options were calculated using a Monte Carlo simulation. Assumptions used in valuing the January 12, 2018 stock options include the expected stock option life, expected volatility, expected dividend yield and risk-free rate. The stock options were assumed to have an expected life equal to the midpoint of (a) the date the performance goal is attained and (b) the date the stock options expire. The expected volatility assumption of 49.33% was based on the Company’s historical stock price volatility over the ten-year period ended on the grant date. The expected dividend yield assumption of 0% was based on the Company’s suspension of its quarterly dividend payment in November 2017. The risk-free rate assumption of 2.55% was based on the yields on U.S. Treasury STRIPS with a remaining term that approximates the life assumed at the date of the grant. The estimated fair value of the three vesting tranches for the stock options ranged from $8.51 to $9.12 with derived service periods from 1.0 year to 2.43 years.  Total stock-based compensation was $836 and $214 for the three months ended March 31 , 201 8 and 201 7 , respectively. As of March 31, 2018 , there was $1,406 of unearned compensation expense related to restricted stock awards, which will be recognized over the remaining weighed average service period of 28 months. As of March 31, 2018, there was $2,486 of unearned compensation related to performance stock options, which will be recognized over the remaining weighted average derived service period of 17 months. As of March 31, 2018, there was $609 of unearned compensation related to time-vested stock options, which will be recognized over the remaining service period of 33 months.

Employee Benefit Plans

Employee Benefit Plans	3 Months Ended
	Mar. 31, 2018
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 provide s certain postretirement health care benefits for certain of its salaried re tired 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.  Additionally, as a result of the cost reducti on program initiated in January 2017 , certain employees participating in the salaried pension and postretirement benefit plans were impacted, which triggered curtailment s of the respective plans during the three months ended March 31, 2017.  The components of net periodic benefit cost (benefit) for the three months ended March 31, 2018 and 201 7 , are as follows:      Three Months Ended  March 31,  Pension Benefits 2018 2017  Interest cost $ 427 $ 446  Expected return on plan assets (711) (642)  Amortization of unrecognized net loss 113 119  Plan curtailment and special termination benefits - 270  $ (171) $ 193        Three Months Ended  March 31,  Postretirement Benefit Plan 2018 2017  Service cost $ 8 $ 12  Interest cost 45 50  Settlement income - -  Amortization of prior service cost 4 4  Amortization of unrecognized net (gain) loss (70) (80)  Plan curtailment and special termination benefits - 150  $ (13) $ 136      The Company made no contributions to the Company’s defined benefit pension plans for each of the three months ended March 31, 2018 and 20 17 . The Company expects to make no contributions to its pension plans in 201 8 .  The Company made contributions to the Company’s postretirement benefit plan for salaried retirees of $225 and $128 for the three months ended March 31 , 201 8 an d 2017, respectively. The Company expects to make $400 in contributions (including contributions already made) to its postretirement benefit plan in 201 8 for salaried 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 $430 and $620 for the three months ended March 31, 2018 and 2017, respectively.

Contingencies

Contingencies	3 Months Ended
	Mar. 31, 2018
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.  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 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 up to s ix years from the date of the incentive. The Company’s level of employment at its Shoals facility currently exceeds the minimum targeted levels of employment. In the event that employment levels drop below the minimum targeted levels of employment and a ny portion of the incentives is required to be paid back, the amount is unlikely to exceed the deferred liability balance of $10,825 as of March 31, 2018 .  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, 2018
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,  2018 2017   Weighted average common shares outstanding 12,306,011 12,269,555  Dilutive effect of employee stock options and nonvested share awards - -  Weighted average diluted common shares outstanding 12,306,011 12,269,555  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, 2018 and 201 7 , 355,631 and 517,448 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	3 Months Ended
	Mar. 31, 2018
Restructuring and Impairment Charges [Abstract]
Restructuring and Impairment Charges	Note 15 – Restructuring and Impairment Charges  In the first quarter of 2017, in response to lower order trends in the industry, the Company announced reductions to its salaried workforce , initiatives to reduce discretionary spending and the idling of the Company’s Danville, Illinois facility . In connection with the Company’s cost reduction program during 2017 , the Company recorded restructuring charges of $1,777 during the three months ended March 31, 2017 , which consisted primarily of e mployee severance and other employment termination costs and pension and postretirement benefit plan curtailment and special termination benefits. As a result of implementing ASU 2017-07 , Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost , as of January 1, 2018, restructuring and impairment charges of $420 for the three months ended March 31, 2017 have been reclassified as other income (expense) in the Condensed Consolidated Statement of Operations. There were no restructuring and impairment charges during the three months ended March 31, 2018.

Business Acquisition

Business Acquisition	3 Months Ended
	Mar. 31, 2018
Purchase Price Allocation for Business Acquisition [Abstract]
Business Acquisition	Note 16 – Business Acquisition On February 28, 2018, the Company acquired substantially all of the operating assets at the Cherokee, Alabama (“ Shoals ”) facility , of Navistar, Inc. (“Navistar”) and its subsidiary, International Truck and Engine Investments Corporation, including their railcar business, and assumed the lease for the facility (the ”Acquisition”). The Company had subleased a portion of the Shoals facility since 2013. As a result of the Acquisition , the Company became the sole tenant of the approximately 2.2 million square - foot facility. Additionally, the Company offered employment opportunit ies to the majority of Navistar ’s approximately 200 employees on site. Under the terms of the Acquisition, the total consideration due to Navistar for the purchase of the operating assets was $20,225 . The parties also negotiated a $24,130 lease incentive in favor of the Company in exchange for the Company assuming all remaining contractual lease obligations. Consideration for the acquisition was settled on a net basis and after certain other closing payments resulted in a payment of $2,655 from Navistar to the Company. The $24,130 lease incentive is included in deferred rent, current and deferred rent, long-term in the Company’s Condensed Consolidated Balance S heet and will be amortized over the remaining lease term as a reduction of rent expense. The Company incurred acquisition costs of approximately $400 , which were primarily legal fees that were expensed as incurred. The preliminary purchase price allocation is as follows :     Inventories $ 3,611  Other current assets 95  Property, plant and equipment, net 17,169  Accounts and contractual payables (650)  $ 20,225  The purchase price equaled the estimated fair value of the net assets acquired (fair value hierarchy level 3) and , therefore, no goodwill or bargain purchase was recorded. Substantially all of Navistar’s operations at the Shoals facility were in support of the Company’s activities . T herefore , it is impracticable to determine the amount of operating profit attributable to the acquired business included in the Company’s results of operations since the acquisition date as the Company has integrated the acquired business with our ongoing operations. Also, the pro-forma financial information for the Company’s historical business and the assets acquired was impracticable to calculate as a result of various service, cost sharing and sublease agreements that were in place at the Shoals facility with Navistar.

Basis of Presentation (Policy)

Basis of Presentation (Policy)	3 Months Ended
	Mar. 31, 2018
Basis of Presentation [Abstract]
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 , 201 8 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 201 7 year-end balance sheet data was derived from the audited financial statements as of December 31, 201 7 . 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, 201 7 .

Recent Accounting Pronounceme25

Recent Accounting Pronouncements (Policy)	3 Months Ended
	Mar. 31, 2018
Recent Accounting Pronouncements [Abstract]
Recent Accounting Pronouncements	In February 2018, the Financial Accounting Standards Board (the “FASB”) issued Accounting Standards Update (“ASU”) 2018-02, Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income, which permits entities to reclassify tax effects stranded in accumulated other comprehensive income as a result of the recent U.S. tax reform to retained earnings. Companies that elect to reclassify these amounts must reclassify stranded tax effects for all items accounted for in accumulated other comprehensive income. ASU 2018-02 is effective for fiscal years beginning after December 15, 2018, and interim periods within those fiscal years. Early adoption is permitted. The Company is currently assessing the impact of this standard on its consolidated financial statements and related disclosures.  On January 1, 2018 , the Company adopted ASU 2017-07, Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost . This standard requires entities to present non-service cost components of net periodic benefit cost in a caption below operating income (loss) and provides that only service cost is eligible to be capitalized in inventory or construction of an asset. This standard requires retrospective application of the change in the statement of operations and prospective application for the capitalization of service cost in assets. Utilizing the practical expedient approach permitted under the standard, based on amounts previously disclosed, the Company reclassified non-service components of net periodic benefit cost from cost of sales, selling, general and administrative expenses and restructuring and impairment charges to other income (expense) i n the Condensed Consolidated Statement of Operations . The service cost component is included in cost of sales and selling, general and administrative expenses.  The following table discloses the amount of net periodic benefit cost reclassified as other income (expense) for the prior period presented in the condensed consolidated financial statements as a result of the adoption of ASU 2017-07:     Three months ended March 31, 2017  As reported Reclassifications As adjusted   Cost of sales $ 129,646 $ 84 $ 129,730  Selling, general and administrative expenses $ 7,011 $ 19 $ 7,030  Restructuring and impairment charges $ 1,777 $ (420) $ 1,357  Other income (expense) $ 18 $ (317) $ (299)   On January 1, 2018, the Company adopted the changes required under ASU 2016-18, Statement of Cash Flows (Topic 230) Restricted Cash . The ASU requires that a statement of cash flows explain the change during the period in the total of cash, cash equivalents, restricted cash and restricted cash equivalents. As a result, restricted cash and restricted cash equivalents are included in beginning-of-period and end-of-period total amounts shown on the statement of cash flows and changes in restricted cash and restricted cash equivalents are no longer included in cash flows from investing activities. The Company has applied these changes in presentation retrospectively, which resu lted in an increase of $3,360 in the beginning-of-period balance and an increase of $3,360 in net cash flows used in investing activities in the Condensed Consolidated Statement of Cash Flows for the three months ended March 31, 2017. Restricted cash and restricted certificates of deposit are used to collateralize standby letters of credit with respect to performance guarantees and to suppor t the Company’s worker s ’ compensation insurance claims. Restricted certificates of deposit with original maturities of up to 90 days are considered restricted cash equivalents and are included in beginning-of-period and end-of-period total amounts shown on the statement of cash flows. Cash, cash equivalents and restricted cash equivalents in the Condensed Consolidated Statement of Cash Flows as of December 31, 2017 and March 31, 2018 include only cash and cash equivalents as there are no restricted cash equivalents included in the restricted certificates of deposit balances in the Condensed Consolidated Balance Sheet s as of those dates.  In January 2017, the FASB issued ASU 2017-04, Intangibles – Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment. Topic 350 currently requires an entity to perform a two-step test to determine the amount, if any, of goodwill impairment. The amendment in ASU 2017-04 removes the second step of the test. An entity will apply a one-step quantitative test and record the amount of goodwill impairment as the excess of a reporting unit’s carrying amount over its fair value, not to exceed the total amount of goodwill allocated to the reporting unit. This standard is effective for annual or interim goodwill impairment tests in fiscal years beginning after December 15, 2019 and early adoption is permitted. The Company is currently assessing the impact of this standard 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 . W hile the C ompany is still evaluating the impact that ASU 2016-02 will have on its consolidated financial statements, the new standard will reflect a significant increase in both assets and liabilities due to the requirement to recognize right-of-use assets and lease liabilities on the balance sheet for facility and equipment leases.  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 for annual reporting periods beginning after December 15, 2016 is permitted. The Company adopted ASU 2014-09 effective January 1, 2018 using the modified retrospective method of adoption. Adoption of this standard did not have any significant impact on the Company’s revenue recognition methods or costs to fulfill its contracts. Additionally, no significant changes in business processes or systems were required as a result of the adoption of this new standard.

Recent Accounting Pronounceme26

Recent Accounting Pronouncements (Tables)	3 Months Ended
	Mar. 31, 2018
Recent Accounting Pronouncements [Abstract]
Schedule of ASU 2017-07 Adoption	   Three months ended March 31, 2017  As reported Reclassifications As adjusted   Cost of sales $ 129,646 $ 84 $ 129,730  Selling, general and administrative expenses $ 7,011 $ 19 $ 7,030  Restructuring and impairment charges $ 1,777 $ (420) $ 1,357  Other income (expense) $ 18 $ (317) $ (299) 

Revenue Recognition (Tables)

Revenue Recognition (Tables)	3 Months Ended
	Mar. 31, 2018
Revenue Recognition [Abstract]
Schedule of Revenue Recognition	   Three months ended  March 31,  2018 2017   Railcar sales $ 79,079 $ 137,085  Parts sales 3,212 1,763  Other sales 56 54  Revenues from contracts with customers 82,347 138,902  Leasing revenues 626 634  Total revenues $ 82,973 $ 139,536 

Segment Information (Tables)

Segment Information (Tables)	3 Months Ended
	Mar. 31, 2018
Segment Information [Abstract]
Schedule of Segment Reporting Information, by Segment	   Three months ended  March 31,  2018 2017  Revenues:  Manufacturing $ 79,733 $ 137,740  Corporate and Other 3,240 1,796  Consolidated Revenues $ 82,973 $ 139,536  Operating (Loss) Income:  Manufacturing $ (3,816) $ 7,249  Corporate and Other (4,776) (5,830)  Consolidated Operating (Loss) Income (8,592) 1,419  Consolidated interest expense and deferred financing costs (32) (42)  Consolidated other income (expense) 381 (299)  Consolidated (Loss) Income Before Income Taxes $ (8,243) $ 1,078  Depreciation and Amortization:  Manufacturing $ 2,484 $ 2,157  Corporate and Other 66 180  Consolidated Depreciation and Amortization $ 2,550 $ 2,337  Capital Expenditures:  Manufacturing (1) $ 141 $ 312  Corporate and Other 41 (16)  Consolidated Capital Expenditures $ 182 $ 296   (1) Excluding assets acquired as part of a business acquisition of $17.2 million on February 28, 2018.(see Note 16)  
Reconciliation of Assets From Segment to Consolidated	   March 31, December 31,  2018 2017  Assets:  Manufacturing $ 166,284 $ 136,448  Corporate and Other 137,822 149,195  Total Operating Assets 304,106 285,643  Consolidated income taxes receivable 329 815  Consolidated deferred income taxes, long-term 11,428 9,446  Consolidated income taxes receivable, long-term 1,767 -  Consolidated Assets $ 317,630 $ 295,904 

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	3 Months Ended
	Mar. 31, 2018
Fair Value Measurements [Abstract]
Fair Value, Assets Measured on Recurring Basis and Non-Recurring Basis	     Recurring Fair Value Measurements As of March 31, 2018  Level 1 Level 2 Level 3 Total  ASSETS:  Cash equivalents $ 38,497 $ - $ - $ 38,497  Restricted certificates of deposit $ 5,452 $ - $ - $ 5,452  Escrow receivable $ - $ - $ 1,420 $ 1,420         Recurring Fair Value Measurements As of December 31, 2017  Level 1 Level 2 Level 3 Total  ASSETS:  Cash equivalents $ 45,542 $ - $ - $ 45,542  Restricted certificates of deposit $ 5,720 $ - $ - $ 5,720  Escrow receivable $ - $ - $ 1,420 $ 1,420   Non-Recurring Fair Value Measurements As of December 31, 2017  Level 1 Level 2 Level 3 Total  ASSETS:  Property, plant and equipment $ - $ - $ $1,434 $ 1,434   

Inventories (Tables)

Inventories (Tables)	3 Months Ended
	Mar. 31, 2018
Inventories [Abstract]
Schedule of Inventory Current	   March 31, December 31,  2018 2017   Work in process $ 43,454 $ 42,460  Finished new railcars - 85  Parts inventory 3,231 2,747  Total inventories, net $ 46,685 $ 45,292 

Accumulated Other Comprehensi31

Accumulated Other Comprehensive Income (Loss) (Tables)	3 Months Ended
	Mar. 31, 2018
Accumulated Other Comprehensive Income (Loss) [Abstract]
Schedule of Changes in Accumulated Other Comprehensive Income (Loss)	     Pre-Tax Tax After-Tax  Three months ended March 31, 2018  Pension liability activity:  Reclassification adjustment for amortization of net loss (pre-tax other income (expense)) $ 113 $ 25 $ 88  Postretirement liability activity:  Reclassification adjustment for amortization of net gain (pre-tax other income (expense)) (70) (15) (55)  Reclassification adjustment for amortization of prior service cost (pre-tax other income (expense)) 4 1 3  $ 47 $ 11 $ 36     Pre-Tax Tax After-Tax  Three months ended March 31, 2017  Pension liability activity:  Reclassification adjustment for amortization of net loss (pre-tax other income (expense)) $ 119 $ 42 $ 77  Postretirement liability activity:  Reclassification adjustment for amortization of net gain (pre-tax other income (expense)) (80) (28) (52)  Reclassification adjustment for amortization of prior service cost (pre-tax other income (expense)) 4 1 3  $ 43 $ 15 $ 28         
Components of Accumulated Other Comprehensive Income Loss	  March 31, December 31,  2018 2017  Unrecognized pension cost, net of tax of $6,096 and $6,120 $ (9,618) $ (9,707)  Unrecognized postretirement income, net of tax of $519 and $533 2,087 2,140  $ (7,531) $ (7,567) 

Employee Benefit Plans (Tables)

Employee Benefit Plans (Tables)	3 Months Ended
	Mar. 31, 2018
Pension Benefits [Member]
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Components of Net Periodic Benefit Cost	   Three Months Ended  March 31,  Pension Benefits 2018 2017  Interest cost $ 427 $ 446  Expected return on plan assets (711) (642)  Amortization of unrecognized net loss 113 119  Plan curtailment and special termination benefits - 270  $ (171) $ 193 
Postretirement Benefit Plan [Member]
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Components of Net Periodic Benefit Cost	   Three Months Ended  March 31,  Postretirement Benefit Plan 2018 2017  Service cost $ 8 $ 12  Interest cost 45 50  Settlement income - -  Amortization of prior service cost 4 4  Amortization of unrecognized net (gain) loss (70) (80)  Plan curtailment and special termination benefits - 150  $ (13) $ 136 

Earnings Per Share (Tables)

Earnings Per Share (Tables)	3 Months Ended
	Mar. 31, 2018
Earnings Per Share [Abstract]
Weighted Average Common Shares Outstanding	   Three Months Ended March 31,  2018 2017   Weighted average common shares outstanding 12,306,011 12,269,555  Dilutive effect of employee stock options and nonvested share awards - -  Weighted average diluted common shares outstanding 12,306,011 12,269,555 

Business Acquisition (Tables)

Business Acquisition (Tables)	3 Months Ended
	Mar. 31, 2018
Purchase Price Allocation for Business Acquisition [Abstract]
Purchase Price Allocation	   Inventories $ 3,611  Other current assets 95  Property, plant and equipment, net 17,169  Accounts and contractual payables (650)  $ 20,225 

Recent Accounting Pronounceme35

Recent Accounting Pronouncements (Narrative) (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2017USD ($)
Accounting Standards Update 2016-18 [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Increase to cash flows used in investing activities	$ 3,360

Recent Accounting Pronounceme36

Recent Accounting Pronouncements (Schedule of ASU 2017-07 Adoption) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Item Effected [Line Items]
Cost of sales	$ 83,569	$ 129,730
Selling, general and administrative expenses	7,996	7,030
Restructuring and impairment charges	0	1,357
Other income (expense)	$ 381	(299)
As Reported [Member]
Item Effected [Line Items]
Cost of sales		129,646
Selling, general and administrative expenses		7,011
Restructuring and impairment charges		1,777
Other income (expense)		18
Reclassifications [Member]
Item Effected [Line Items]
Cost of sales		84
Selling, general and administrative expenses		19
Restructuring and impairment charges		(420)
Other income (expense)		$ (317)

Revenue Recognition (Narrative)

Revenue Recognition (Narrative) (Details)	3 Months Ended
	Mar. 31, 2018
Revenue Recognition [Abstract]
Warranty Term	5 years

Revenue Recognition (Schedule o

Revenue Recognition (Schedule of Revenue Recognition) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	$ 82,347	$ 138,902
Leasing revenues	626	634
Total revenues	82,973	139,536
Railcar Sales [Member]
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	79,079	137,085
Parts sales [Member]
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	3,212	1,763
Other sales [Member]
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	$ 56	$ 54

Segment Information (Narrative)

Segment Information (Narrative) (Details)	3 Months Ended
	Mar. 31, 2018segment
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
	Mar. 31, 2018	Mar. 31, 2017	Feb. 28, 2018
Segment Reporting Information [Line Items]
Revenues	$ 82,973	$ 139,536
Operating (Loss) Income	(8,592)	1,419
Consolidated interest expense and deferred financing costs	(32)	(42)
Consolidated other income (expense)	381	(299)
(Loss) income before income taxes	(8,243)	1,078
Depreciation and amortization	2,550	2,337
Capital expenditures	182	296
Manufacturing [Member]
Segment Reporting Information [Line Items]
Revenues	79,733	137,740
Operating (Loss) Income	(3,816)	7,249
Depreciation and amortization	2,484	2,157
Capital expenditures	141	312
Assets acquired			$ 17,200
Corporate and Other [Member]
Segment Reporting Information [Line Items]
Revenues	3,240	1,796
Operating (Loss) Income	(4,776)	(5,830)
Depreciation and amortization	66	180
Capital expenditures	$ 41	$ (16)

Segment Information (Reconcilia

Segment Information (Reconciliation of Assets from Segment to Consolidated) (Details) - USD ($) $ in Thousands	Mar. 31, 2018	Dec. 31, 2017
Segment Reporting Information [Line Items]
Total Operating Assets	$ 304,106	$ 285,643
Consolidated income taxes receivable	329	815
Consolidated deferred income taxes, long-term	11,428	9,446
Consolidated income taxes receivable, long-term	1,767
Total assets	317,630	295,904
Manufacturing [Member]
Segment Reporting Information [Line Items]
Total Operating Assets	166,284	136,448
Corporate and Other [Member]
Segment Reporting Information [Line Items]
Total Operating Assets	$ 137,822	$ 149,195

Fair Value Measurements (Narrat

Fair Value Measurements (Narrative) (Details) - USD ($) $ in Thousands	3 Months Ended
	Sep. 30, 2016	Mar. 31, 2018	Dec. 31, 2017	Sep. 30, 2015
Fair Value Measurements [Abstract]
Purchase price in escrow				$ 1,960
Escrow receivable		$ 1,470	$ 1,470
Asset impairment charge	$ 1,255

Fair Value Measurements (Fair V

Fair Value Measurements (Fair Value, Assets Measured on Recurring Basis and Non-Recurring Basis) (Details) - USD ($) $ in Thousands	Mar. 31, 2018	Dec. 31, 2017
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Escrow receivable	$ 1,470	$ 1,470
Fair Value, Measurements, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	38,497	45,542
Restricted certificates of deposit	5,452	5,720
Escrow receivable	1,420	1,420
Fair Value, Measurements, Nonrecurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Property, plant and equipment		1,434
Fair Value, Inputs, Level 1 [Member] | Fair Value, Measurements, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	38,497	45,542
Restricted certificates of deposit	5,452	5,720
Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Escrow receivable	$ 1,420	1,420
Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Nonrecurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Property, plant and equipment		$ 1,434

Marketable Securities (Details)

Marketable Securities (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Dec. 31, 2017
Marketable securities	$ 52,288	$ 42,917
Maximum [Member]
Marketable securities, original maturity	1 year
Minimum [Member]
Marketable securities, original maturity	90 days

Inventories (Narrative) (Detail

Inventories (Narrative) (Details) - USD ($) $ in Thousands	Mar. 31, 2018	Dec. 31, 2017
Inventories [Abstract]
Inventory valuation reserves	$ 6,448	$ 6,160

Inventories (Schedule of Invent

Inventories (Schedule of Inventory Current) (Details) - USD ($) $ in Thousands	Mar. 31, 2018	Dec. 31, 2017
Inventories [Abstract]
Work in process	$ 43,454	$ 42,460
Finished new railcars		85
Parts inventory	3,231	2,747
Total inventories, net	$ 46,685	$ 45,292

Revolving Credit Facility (Deta

Revolving Credit Facility (Details) - Revolving Credit Facility [Member] - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Dec. 31, 2017
Line of Credit Facility [Line Items]
Line of Credit Facility, Expiration Date	Jul. 26, 2019
Maximum borrowing capacity	$ 50,000
Outstanding borrowings	0	$ 0
Letter of Credit Sub-Facility [Member]
Line of Credit Facility [Line Items]
Outstanding borrowings	5,452	5,452
Line of Credit Facility, Remaining Borrowing Capacity	$ 44,548	$ 44,548

Accumulated Other Comprehensi48

Accumulated Other Comprehensive Income (Loss) (Schedule of Changes in Accumulated Other Comprehensive Income (Loss)) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Accumulated Other Comprehensive Income (Loss) [Line Items]
Pre-Tax	$ 47	$ 43
Tax	11	15
After-Tax	36	28
Accumulated Defined Benefit Plans Adjustment, Net Gain (Loss) Attributable to Parent [Member] | Pension Benefits [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Pre-Tax	113	119
Tax	25	42
After-Tax	88	77
Accumulated Defined Benefit Plans Adjustment, Net Gain (Loss) Attributable to Parent [Member] | Postretirement Benefit Plan [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Pre-Tax	(70)	(80)
Tax	(15)	(28)
After-Tax	(55)	(52)
Accumulated Defined Benefit Plans Adjustment, Net Prior Service Attributable to Parent [Member] | Postretirement Benefit Plan [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Pre-Tax	4	4
Tax	1	1
After-Tax	$ 3	$ 3

Accumulated Other Comprehensi49

Accumulated Other Comprehensive Income (Loss) (Components of Accumulated Other Comprehensive Loss) (Details) - Accumulated Defined Benefit Plans Adjustment Including Portion Attributable to Noncontrolling Interest [Member] - USD ($) $ in Thousands	Mar. 31, 2018	Dec. 31, 2017
Accumulated Other Comprehensive Income (Loss) [Line Items]
Accumulated other comprehensive loss, net of tax	$ (7,531)	$ (7,567)
Pension Benefits [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Accumulated other comprehensive loss, net of tax	(9,618)	(9,707)
Accumulated other comprehensive loss, tax	6,096	6,120
Postretirement Benefit Plan [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Accumulated other comprehensive loss, net of tax	2,087	2,140
Accumulated other comprehensive loss, tax	$ 519	$ 533

Stock-Based Compensation (Detai

Stock-Based Compensation (Details) - USD ($) $ / shares in Units, $ in Thousands	Jan. 12, 2018	Mar. 31, 2018	Mar. 31, 2017
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation		$ 836	$ 214
Remaining requisite service period		28 months
Unearned compensation		$ 1,406
Method for measuring cost of award		The estimated fair value and derived service period for the stock options were calculated using a Monte Carlo simulation.
Performance Stock Options [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unearned compensation related to options		$ 2,486
Weighted average service period		17 months
Time-Vested Stock Options [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unearned compensation related to options		$ 609
Remaining service period		33 months
Executive Officer [Member] | Employee Stock Option [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award contractual term	10 years
Options granted	146,590
Expected volatility	49.33%
Expected dividend yield	0.00%
Risk-free rate	2.55%
Executive Officer [Member] | Employee Stock Option [Member] | Share-based Compensation Award, Tranche One [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting percentage	34.00%
Threshold Stock Price	$ 5
Executive Officer [Member] | Employee Stock Option [Member] | Share-based Compensation Award, Tranche Two [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting percentage	33.00%
Threshold Stock Price	$ 10
Executive Officer [Member] | Employee Stock Option [Member] | Share-based Compensation Award, Tranche Three [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting percentage	33.00%
Threshold Stock Price	$ 15
Executive Officer [Member] | Minimum [Member] | Employee Stock Option [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Derived service period	1 year
Estimated fair value	$ 8.51
Executive Officer [Member] | Maximum [Member] | Employee Stock Option [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Derived service period	2 years 5 months 5 days
Estimated fair value	$ 9.12

Employee Benefit Plans (Narrati

Employee Benefit Plans (Narrative) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Defined contribution plan expense recognized	$ 430	$ 620
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	225	$ 128
Postretirement Benefit Plan [Member] | Salaried Retirees [Member]
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Expected total contributions for current fiscal year	$ 400

Employee Benefit Plans (Compone

Employee Benefit Plans (Components of Net Periodic Benefit Cost) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Pension Benefits [Member]
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Interest cost	$ 427	$ 446
Expected return on plan assets	(711)	(642)
Amortization of unrecognized net (gain) loss	113	119
Plan curtailment and special termination benefits		270
Total net periodic benefit cost	(171)	193
Postretirement Benefit Plan [Member]
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Service cost	8	12
Interest cost	45	50
Amortization of prior service cost	4	4
Amortization of unrecognized net (gain) loss	(70)	(80)
Plan curtailment and special termination benefits		150
Total net periodic benefit cost	$ (13)	$ 136

Contingencies (Details)

Contingencies (Details) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2017	Dec. 31, 2015	Mar. 31, 2018
Contingencies [Abstract]
State and local incentives received	$ 1,410	$ 15,733
Deferred liability balance			$ 10,825

Earnings Per Share (Narrative)

Earnings Per Share (Narrative) (Details) - shares	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Earnings Per Share [Abstract]
Anti-dilutive common shares excluded from computation of earnings per share amount	355,631	517,448

Earnings Per Share (Weighted Av

Earnings Per Share (Weighted Average Common Shares Outstanding) (Details) - shares	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Earnings Per Share [Abstract]
Weighted average common shares outstanding (shares)	12,306,011	12,269,555
Dilutive effect of employee stock options and nonvested share awards (shares)
Weighted average diluted common shares outstanding (shares)	12,306,011	12,269,555

Restructuring and Impairment 56

Restructuring and Impairment Charges (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Restructuring Cost and Reserve [Line Items]
Other income (expense)	$ 381	$ (299)
Restructuring and impairment charges	$ 0	1,357
Accounting Standards Update 2017-07 [Member]
Restructuring Cost and Reserve [Line Items]
Other income (expense)		420
Employee Severance And Other Employment Termination Costs [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring charges		$ 1,777

Business Acquisition (Narrative

Business Acquisition (Narrative) (Details) - Navistar, Inc. [Member] ft² in Millions	Feb. 28, 2018USD ($)ft²
Business Acquisition [Line Items]
Size of facility | ft²	2.2
Number of employees	200
Total consideration	$ 20,225,000
Lease incentive	24,130,000
Closing payments	2,655,000
Deferred rent	24,130,000
Acquisition costs	$ 400,000

Business Acquisition (Purchase

Business Acquisition (Purchase Price Allocation) (Details) - Navistar, Inc. [Member] $ in Thousands	Feb. 28, 2018USD ($)
Business Acquisition [Line Items]
Inventories	$ 3,611
Other current assets	95
Property, plant and equipment, net	17,169
Accounts and contractual payables	(650)
Preliminary purchase price allocation	$ 20,225