Wabash National (WNC) 10-Q 27 Oct 15 2015 Q3 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	9 Months Ended
	Sep. 30, 2015	Oct. 22, 2015
Document Information [Line Items]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Sep. 30, 2015
Document Fiscal Year Focus	2,015
Document Fiscal Period Focus	Q3
Entity Registrant Name	WABASH NATIONAL CORP /DE
Entity Central Index Key	879,526
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Trading Symbol	WNC
Entity Common Stock, Shares Outstanding		66,496,654

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014
CURRENT ASSETS
Cash and cash equivalents	$ 197,187	$ 146,113
Accounts receivable	138,950	135,206
Inventories	227,510	177,144
Deferred income taxes	19,772	16,993
Prepaid expenses and other	18,265	10,203
Total current assets	601,684	485,659
PROPERTY, PLANT AND EQUIPMENT	136,533	142,892
DEFERRED INCOME TAXES	1,429	0
GOODWILL	149,676	149,603
INTANGIBLE ASSETS	121,081	137,100
OTHER ASSETS	13,968	13,397
Total Assets	1,024,371	928,651
CURRENT LIABILITIES
Current portion of long-term debt	2,440	496
Current portion of capital lease obligations	853	1,458
Accounts payable	131,513	96,213
Other accrued liabilities	111,855	88,690
Total current liabilities	246,661	186,857
LONG-TERM DEBT	327,639	324,777
CAPITAL LEASE OBLIGATIONS	2,065	5,796
DEFERRED INCOME TAXES	1,764	2,349
OTHER NONCURRENT LIABILITIES	$ 19,551	$ 18,040
COMMITMENTS AND CONTINGENCIES
STOCKHOLDERS' EQUITY
Common stock 200,000,000 shares authorized, $0.01 par value, 66,496,654 and 68,998,069 shares outstanding, respectively	$ 715	$ 709
Additional paid-in capital	644,215	635,606
Accumulated deficit	(145,195)	(216,198)
Accumulated other comprehensive income	(1,379)	(637)
Treasury stock at cost, 5,065,091 and 1,987,073 common shares, respectively	(71,665)	(28,648)
Total stockholders' equity	426,691	390,832
Total Liabilities and Equity	$ 1,024,371	$ 928,651

CONDENSED CONSOLIDATED BALANCE3

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Sep. 30, 2015	Dec. 31, 2014
Common stock, shares authorized	200,000,000	200,000,000
Common stock, par value	$ 0.01	$ 0.01
Common stock, shares outstanding	66,496,654	68,998,069
Treasury stock, shares	5,065,091	1,987,073

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
NET SALES	$ 531,350	$ 491,697	$ 1,483,778	$ 1,335,838
COST OF SALES	445,328	430,069	1,268,153	1,165,925
Gross profit	86,022	61,628	215,625	169,913
GENERAL AND ADMINISTRATIVE EXPENSES	17,855	14,957	53,758	44,890
SELLING EXPENSES	6,462	6,271	20,216	20,361
AMORTIZATION OF INTANGIBLES	5,316	5,471	15,945	16,413
Income from operations	56,389	34,929	125,706	88,249
OTHER INCOME (EXPENSE):
Interest expense	(4,784)	(5,454)	(14,759)	(16,904)
Other, net	(187)	(610)	2,500	(1,626)
Income before income taxes	51,418	28,865	113,447	69,719
INCOME TAX EXPENSE	19,538	10,558	42,445	27,877
Net income	$ 31,880	$ 18,307	$ 71,002	$ 41,842
BASIC NET INCOME PER SHARE	$ 0.48	$ 0.26	$ 1.05	$ 0.60
DILUTED NET INCOME PER SHARE	$ 0.47	$ 0.25	$ 1.01	$ 0.58

CONDENSED CONSOLIDATED STATEME5

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
NET INCOME	$ 31,880	$ 18,307	$ 71,002	$ 41,842
Other comprehensive income (loss):
Foreign currency translation adjustment	(496)	(295)	(743)	(45)
Total other comprehensive income (loss)	(496)	(295)	(743)	(45)
COMPREHENSIVE INCOME	$ 31,384	$ 18,012	$ 70,259	$ 41,797

CONDENSED CONSOLIDATED STATEME6

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014
Cash flows from operating activities
Net income	$ 71,002	$ 41,842
Adjustments to reconcile net income to net cash provided by operating activities
Depreciation	12,514	12,730
Amortization of intangibles	15,945	16,413
Net gain on the sale of assets	(8,315)	(43)
Deferred income taxes	(4,772)	14,571
Loss on debt extinguishment	5,620	1,042
Stock-based compensation	6,655	5,509
Accretion of debt discount	3,366	3,624
Changes in operating assets and liabilities
Accounts receivable	(3,744)	(31,263)
Inventories	(50,366)	(79,534)
Prepaid expenses and other	(2,704)	2,721
Accounts payable and accrued liabilities	58,465	25,094
Other, net	1,025	2,004
Net cash provided by operating activities	104,691	14,710
Cash flows from investing activities
Capital expenditures	(12,554)	(9,017)
Proceeds from the sale of property, plant and equipment	13,180	86
Other, net	(5,358)	4,142
Net cash used in investing activities	(4,732)	(4,789)
Cash flows from financing activities
Proceeds from exercise of stock options	1,959	1,789
Borrowings under revolving credit facilities	665	565
Payments under revolving credit facilities	(613)	(565)
Principal payments under capital lease obligations	(3,964)	(1,492)
Proceeds from issuance of term loan credit facility	192,845	0
Principal payments under term loan credit facility	(193,809)	(42,078)
Principal payments under industrial revenue bond	(370)	(354)
Debt issuance costs paid	(2,581)	0
Stock repurchase	(43,017)	(1,497)
Net cash used in financing activities	(48,885)	(43,632)
Net increase (decrease) in cash and cash equivalents	51,074	(33,711)
Cash and cash equivalents at beginning of period	146,113	113,262
Cash and cash equivalents at end of period	$ 197,187	$ 79,551

DESCRIPTION OF THE BUSINESS

DESCRIPTION OF THE BUSINESS	9 Months Ended
	Sep. 30, 2015
Organization, Consolidation and Presentation of Financial Statements [Abstract]
DESCRIPTION OF THE BUSINESS	1. DESCRIPTION OF THE BUSINESS The condensed consolidated financial statements of Wabash National Corporation (the “Company”) have been prepared without audit, pursuant to the rules and regulations of the Securities and Exchange Commission (the “SEC”). Certain information and footnote disclosures normally included in financial statements prepared in accordance with generally accepted accounting principles have been condensed or omitted pursuant to such rules and regulations. In the opinion of management, the accompanying condensed consolidated financial statements contain all material adjustments (consisting only of normal recurring adjustments) necessary to present fairly the consolidated financial position of the Company, its results of operations and cash flows. The condensed consolidated financial statements included herein should be read in conjunction with the consolidated financial statements and the notes thereto included in the Company’s 2014 Annual Report on Form 10-K.

INVENTORIES

INVENTORIES	9 Months Ended
	Sep. 30, 2015
Inventory Disclosure [Abstract]
INVENTORIES	INVENTORIES September 30, December 31, 2015 2014 Finished goods $ 109,906 $ 68,923 Used trailers 10,402 12,783 Raw materials and components 69,843 63,847 Aftermarket parts 9,131 8,446 Work in progress 28,228 23,145 $ 227,510 $ 177,144

DEBT

DEBT	9 Months Ended
	Sep. 30, 2015
Debt Disclosure [Abstract]
DEBT	3. DEBT September 30, December 31, 2015 2014 Convertible senior notes $ 150,000 $ 150,000 Term loan credit agreement 191,881 192,845 Revolving credit agreement 52 - Industrial revenue bond 1,275 1,645 $ 343,208 $ 344,490 Less: unamortized discount (13,129) (19,217) Less: current portion (2,440) (496) $ 327,639 $ 324,777 Convertible Senior Notes In April 2012, the Company issued Convertible Senior Notes due 2018 150 3.375 The Notes are convertible by their holders into cash, shares of the Company’s common stock or any combination thereof at the Company’s election, at an initial conversion rate of 85.4372 1,000 11.70 30 130 1,000 98 November 1, 2017 It is the Company’s intent to settle conversions through a net share settlement, which involves repayment of cash for the principal portion and delivery of shares of common stock for the excess of the conversion value over the principal portion. The Company used the net proceeds of $ 145.1 The Company accounts separately for the liability and equity components of the Notes in accordance with authoritative guidance for convertible debt instruments that may be settled in cash upon conversion. The guidance required the carrying amount of the liability component to be estimated by measuring the fair value of a similar liability that does not have an associated conversion feature. The Company determined that senior, unsecured corporate bonds traded on the market represent a similar liability to the Notes without the conversion option. Based on market data available for publicly traded, senior, unsecured corporate bonds issued by companies in the same industry and with similar maturity, the Company estimated the implied interest rate of the Notes to be 7.0 123.8 21.7 145.5 The Company applies the treasury stock method in calculating the dilutive impact of the Notes. For the three and nine month periods ended September 30, 2015, the Notes had a dilutive impact. September 30, December 31, 2015 2014 Principal amount of the Notes outstanding $ 150,000 $ 150,000 Unamortized discount of liability component (12,235) (15,399) Net carrying amount of liability component 137,765 134,601 Less: current portion - - Long-term debt $ 137,765 $ 134,601 Carrying value of equity component, net of issuance costs $ 20,993 $ 20,993 Remaining amortization period of discount on the liability component 2.5 years 3.3 years Three Months Ended September 30, Nine Months Ended September 30, 2015 2014 2015 2014 Contractual coupon interest expense $ 1,266 $ 1,266 $ 3,797 $ 3,797 Accretion of discount on the liability component $ 1,073 $ 1,002 $ 3,164 $ 2,954 Revolving Credit Agreement On June 4, 2015, the Company entered into a Joinder and First Amendment to Amended and Restated Credit Agreement, First Amendment to Amended and Restated Security Agreement and First Amendment to Amended and Restated Guaranty Agreement (the “Amendment”) by and among the Company, certain of its subsidiaries designated as Loan Parties (as defined in the Amendment), Wells Fargo Capital Finance, LLC, as arranger and administrative agent (the “Agent”), and the other Lenders party thereto. The Amendment amends, among other things, the Amended and Restated Credit Agreement (as amended, the “Credit Agreement”), dated as of May 8, 2012, among the Company, certain subsidiaries of the Company from time to time party thereto (together with the Company, the “Borrowers”), the several lenders from time to time party thereto, and the Agent which provides for, among other things, a five year, $150 million senior secured revolving credit facility (the “Credit Facility”). The Amendment, among other things (i) increases the total commitments under the Credit Facility from $ 150 175 In addition, the Amendment (i) provides that borrowings under the Credit Facility will bear interest, at the Borrowers’ election, at (x) LIBOR plus a margin ranging from 150 basis points to 200 basis points (in lieu of the previous range from 175 basis points to 225 basis points), or (y) a base rate plus a margin ranging from 50 basis points to 100 basis points (in lieu of the previous range from 75 basis points to 125 basis points), in each case, based upon the monthly average excess availability under the Credit Facility, (ii) provides that the monthly unused line fee shall be equal to 25 basis points (which amount was previously 37.5 basis points) times the average unused availability under the Credit Facility, (iii) provides that if availability under the Credit Facility is less than 12.5% (which threshold was previously 15%) of the total commitment under the Credit Facility or if there exists an event of default, amounts in any of the Borrowers’ and the subsidiary guarantors’ deposit accounts (other than certain excluded accounts) will be transferred daily into a blocked account held by the Agent and applied to reduce the outstanding amounts under the Credit Facility The Credit Agreement is guaranteed by certain of the Company’s subsidiaries (the “Revolver Guarantors”) and is secured by (i) first priority security interests (subject only to customary permitted liens and certain other permitted liens) in substantially all personal property of the Borrowers and the Revolver Guarantors, consisting of accounts receivable, inventory, cash, deposit and securities accounts and any cash or other assets in such accounts and, to the extent evidencing or otherwise related to such property, all general intangibles, licenses, intercompany debt, letter of credit rights, commercial tort claims, chattel paper, instruments, supporting obligations, documents and payment intangibles (collectively, the “Revolver Priority Collateral”), and (ii) second-priority liens on and security interests in (subject only to the liens securing the Term Loan Credit Agreement, customary permitted liens and certain other permitted liens) (A) equity interests of each direct subsidiary held by the Borrower and each Revolving Guarantor (subject to customary limitations in the case of the equity of foreign subsidiaries), and (B) substantially all other tangible and intangible assets of the Borrowers and the Revolving Guarantors including equipment, general intangibles, intercompany notes, insurance policies, investment property, intellectual property and material owned real property (in each case, except to the extent constituting Revolver Priority Collateral) (collectively, the “Term Priority Collateral”). The respective priorities of the security interests securing the Credit Agreement and the Term Loan Credit Agreement are governed by an Intercreditor Agreement between the Revolver Agent and the Term Agent (as defined below) (the “Intercreditor Agreement”). Subject to the terms of the Intercreditor Agreement, if the covenants under the Credit Agreement are breached, the lenders may, subject to various customary cure rights, require the immediate payment of all amounts outstanding and foreclose on collateral. Other customary events of default in the Credit Agreement include, without limitation, failure to pay obligations when due, initiation of insolvency proceedings, defaults on certain other indebtedness, and the incurrence of certain judgments that are not stayed, satisfied, bonded or discharged within 30 days. As of September 30, 2015, the Company had less than $ 0.1 366.0 million as of September 30, 2015. Term Loan Credit Agreement In May 2012 the Company entered into a credit agreement among the Company, the several lenders from time to time party thereto, Morgan Stanley Senior Funding, Inc., as administrative agent, joint lead arranger and joint bookrunner (the “Term Agent”), and Wells Fargo Securities, LLC, as joint lead arranger and joint bookrunner (the “Term Loan Credit Agreement”), which initially provided, among other things, for a senior secured term loan facility of $ 300 In April 2013, the Company entered into Amendment No.1 to Credit Agreement (the “Amendment”), which became effective on May 9, 2013 and amended the Term Loan Credit Agreement. As of the Amendment date, there was $ 297.0 20.0 277.0 On March 19, 2015, the Company entered into Amendment No. 2 to Credit Agreement (“Amendment No. 2”). As of the Amendment No. 2 192.8 192.8 March 19, 2022 91 125 0.25 1.00 Amendment No. 2 also provides for a 1% prepayment premium applicable in the event that the Company enters into a refinancing of, or amendment in respect of, the Tranche B-2 Loans on or prior to the first anniversary of the effective date of Amendment No. 2 that, in either case, results in the all-in yield (including, for purposes of such determination, the applicable interest rate, margin, original issue discount, upfront fees and interest rate floors, but excluding any customary arrangement, structuring, commitment or underwriting fees) of such refinancing or amendment being less than the all-in yield (determined on the same basis) on the Tranche B-2 Loans. Additionally, Amendment No. 2 amends the Term Loan Credit Agreement by (i) removing the maximum senior secured leverage ratio test, (ii) modifying the accordion feature, as described in the Term Loan Credit Agreement, to provide for a senior secured incremental term loan facility in an aggregate amount not to exceed the greater of (A) $ 75 The Term Loan Credit Agreement, as amended, is guaranteed by the Term Guarantors and is secured by (i) first-priority liens on and security interests in the Term Priority Collateral, and (ii) second-priority security interests in the Revolver Priority Collateral. In addition, the Term Loan Credit Agreement, as amended, contains customary covenants limiting the Company’s ability to, among other things, pay cash dividends, incur debt or liens, redeem or repurchase stock, enter into transactions with affiliates, merge, dissolve, pay off subordinated indebtedness, make investments and dispose of assets. Subject to the terms of the Intercreditor Agreement, if the covenants under the Term Loan Credit Agreement, as amended, are breached, the lenders may, subject to various customary cure rights, require the immediate payment of all amounts outstanding and foreclose on collateral. Other customary events of default in the Term Loan Credit Agreement, as amended, include, without limitation, failure to pay obligations when due, initiation of insolvency proceedings, defaults on certain other indebtedness, and the incurrence of certain judgments that are not stayed, satisfied, bonded or discharged within 60 days. During the second quarter of 2015 and in connection with the $ 13.1 Prepaid expenses and other For the nine months ended September 30, 2015 and 2014, under the Term Loan Credit Agreement the Company paid interest of $ 7.1 million and $ 7.9 million, respectively, and principal of $ 1.0 million and $ 42.1 million, respectively. As of September 30, 2015, the Company had $191.9 million outstanding under the Term Loan Credit Agreement, of which $ 1.9 million was classified as current on the Company’s Condensed Consolidated Balance Sheet as a result of Amendment No. 2 of the Term Loan Credit Agreement which requires a mandatory 1% per year principal payment. For the nine months ended September 30, 2015 and 2014, the Company charged $ 0.2 million and $ 0.7 Interest Expense 5.3 Other, net 0.9 Other Debt Facilities In November 2012, the Company entered into a loan agreement with GE Government Finance, Inc. as lender and the County of Trigg, Kentucky as issuer for a $ 2.5 4.25 1.3 million outstanding, of which $ 0.5 million was classified as current on the Condensed Consolidated Balance Sheet.

FAIR VALUE MEASUREMENTS

FAIR VALUE MEASUREMENTS	9 Months Ended
	Sep. 30, 2015
Fair Value Disclosures [Abstract]
FAIR VALUE MEASUREMENTS	4. FAIR VALUE MEASUREMENTS The Company’s fair value measurements are based upon a three-level valuation hierarchy. These valuation techniques are based upon the transparency of inputs (observable and unobservable) to the valuation of an asset or liability as of the measurement date. Observable inputs reflect market data obtained from independent sources, while unobservable inputs reflect the Company’s market assumptions. These two types of inputs create the following fair value hierarchy: ⋅ Level 1 — Valuation is based on quoted prices for identical assets or liabilities in active markets; ⋅ Level 2 — Valuation is based on quoted prices for similar assets or liabilities in active markets, or other inputs that are observable for the asset or liability, either directly or indirectly, for the full term of the financial instrument; and ⋅ Level 3 — Valuation is based upon other unobservable inputs that are significant to the fair value measurement. Recurring Fair Value Measurements The Company maintains a non-qualified deferred compensation plan which is offered to senior management and other key employees. The amount owed to participants is an unfunded and unsecured general obligation of the Company. Participants are offered various investment options with which to invest the amount owed to them, and the plan administrator maintains a record of the liability owed to participants by investment. To minimize the impact of the change in market value of this liability, the Company has elected to purchase a separate portfolio of investments through the plan administrator similar to those chosen by the participant. The investments purchased by the Company (asset) include mutual funds, $ 0.8 million of which are classified as Level 1, and life-insurance contracts valued based on the performance of underlying mutual funds, $ 8.2 million of which are classified as Level 2. Nonrecurring Fair Value Measurements Certain nonfinancial assets and liabilities are measured at fair value on a nonrecurring basis and are subject to fair value adjustments in certain circumstances, such as when there is evidence of impairment. The Company reviews for goodwill impairment annually and whenever events or changes in circumstances indicate its carrying value may not be recoverable. The fair value of the reporting units is determined using the income approach. The income approach focuses on the income-producing capability of an asset, measuring the current value of the asset by calculating the present value of its future economic benefits such as cash earnings, cost savings, corporate tax structure and product offerings. Value indications are developed by discounting expected cash flows to their present value at a rate of return that incorporates the risk-free rate for the use of funds, the expected rate of inflation and risks associated with the reporting unit. These assets would generally be classified within Level 3, in the event that the Company were required to measure and record such assets at fair value within its unaudited condensed consolidated financial statements. The Company periodically evaluates the carrying value of long-lived assets to be held and used, including definite-lived intangible assets and property plant and equipment, when events or circumstances warrant such a review. Fair value is determined primarily using anticipated cash flows assumed by a market participant discounted at a rate commensurate with the risk involved and these assets would generally be classified within Level 3, in the event that the Company were required to measure and record such assets at fair value within its unaudited condensed consolidated financial statements. Assets and liabilities acquired in business combinations are recorded at their fair value as of the date of acquisition. The carrying amounts of accounts receivable and accounts payable reported in the Condensed Consolidated Balance Sheets approximate fair value. Estimated Fair Value of Debt The estimated fair value of long-term debt at September 30, 2015 consists primarily of the Notes and borrowings under its Term Loan Credit Agreement (see Note 3). The fair value of the Notes, the Term Loan Credit Agreement and the revolving credit facility are based upon third party pricing sources, which generally do not represent daily market activity, nor does it represent data obtained from an exchange, and are classified as Level 2. The interest rates on the Company’s borrowings under the revolving credit facility are adjusted regularly to reflect current market rates and thus carrying value approximates fair value for these borrowings. All other debt and capital lease obligations approximate their fair value as determined by discounted cash flows and are classified as Level 3. September 30, 2015 December 31, 2014 Carrying Fair Value Carrying Fair Value Value Level 1 Level 2 Level 3 Value Level 1 Level 2 Level 3 Instrument Convertible senior notes $ 137,765 $ - $ 168,855 $ - $ 134,601 $ - $ 188,490 $ - Term loan credit agreement 191,039 - 191,401 - 189,027 - 192,845 - Industrial revenue bond 1,275 - - 1,275 1,645 - - 1,645 Capital lease obligations 2,918 - - 2,918 7,254 - - 7,254 $ 332,997 $ - $ 360,256 $ 4,193 $ 332,527 $ - $ 381,335 $ 8,899

STOCK-BASED COMPENSATION

STOCK-BASED COMPENSATION	9 Months Ended
	Sep. 30, 2015
Share-Based Compensation [Abstract]
STOCK-BASED COMPENSATION	5. STOCK-BASED COMPENSATION The Company recognizes all share-based payments based upon their fair value. To value new stock option awards the Company uses a binomial option-pricing model, which incorporates various assumptions including expected volatility, expected term, dividend yield and risk-free interest rates. The expected volatility is based upon the Company’s historical experience. The expected term represents the period of time that options granted are expected to be outstanding. The risk-free interest rate utilized for periods throughout the contractual life of the options are based upon U.S. Treasury security yields at the time of grant. The Company also grants restricted stock units subject to service, performance and/or market conditions. The Company’s policy is to recognize expense for awards that have service conditions only subject to graded vesting using the straight-line attribution method. The fair value of service and performance based units is based on the market price of a share of underlying common stock at the date of grant. The fair value of the market based units is based on a lattice valuation model. The amount of compensation costs related to stock options, restricted stock units and performance units not yet recognized was $ 12.2 million at September 30, 2015, for which the expense will be recognized through 2018

CONTINGENCIES

CONTINGENCIES	9 Months Ended
	Sep. 30, 2015
Commitments and Contingencies Disclosure [Abstract]
CONTINGENCIES	6. CONTINGENCIES The Company is involved in a number of legal proceedings concerning matters arising in connection with the conduct of its business activities, and is periodically subject to governmental examinations (including by regulatory and tax authorities), and information gathering requests (collectively, "governmental examinations"). As of September 30, 2015, the Company was named as a defendant or was otherwise involved in numerous legal proceedings and governmental examinations in various jurisdictions, both in the United States and internationally. The Company has recorded liabilities for certain of its outstanding legal proceedings and governmental examinations. A liability is accrued when it is both (a) probable that a loss with respect to the legal proceeding has occurred and (b) the amount of loss can be reasonably estimated. The Company evaluates, on a quarterly basis, developments in legal proceedings and governmental examinations that could cause an increase or decrease in the amount of the liability that has been previously accrued. These legal proceedings, as well as governmental examinations, involve various lines of business of the Company and a variety of claims (including, but not limited to, common law tort, contract, antitrust and consumer protection claims), some of which present novel factual allegations and/or unique legal theories. While some matters pending against the Company specify the damages claimed by the plaintiff, many seek a not-yet-quantified amount of damages or are at very early stages of the legal process. Even when the amount of damages claimed against the Company are stated, the claimed amount may be exaggerated and/or unsupported. As a result, it is not currently possible to estimate a range of possible loss beyond previously accrued liabilities relating to some matters including those described below. Such previously accrued liabilities may not represent the Company's maximum loss exposure. The legal proceedings and governmental examinations underlying the estimated range will change from time to time and actual results may vary significantly from the currently accrued liabilities. Based on its current knowledge, and taking into consideration its litigation-related liabilities, the Company believes it is not a party to, nor are any of its properties the subject of, any pending legal proceeding or governmental examination other than the matters below, which are addressed individually, that would have a material adverse effect on the Company's consolidated financial condition or liquidity if determined in a manner adverse to the Company. However, in light of the uncertainties involved in such matters, the ultimate outcome of a particular matter could be material to the Company's operating results for a particular period depending on, among other factors, the size of the loss or liability imposed and the level of the Company's income for that period. Costs associated with the litigation and settlements of legal matters are reported within General and Administrative Expenses Brazil Joint Venture In March 2001, Bernard Krone Indústria e Comércio de Máquinas Agrícolas Ltda. (“BK”) filed suit against the Company in the Fourth Civil Court of Curitiba in the State of Paraná, Brazil. Because of the bankruptcy of BK, this proceeding is now pending before the Second Civil Court of Bankruptcies and Creditors Reorganization of Curitiba, State of Paraná (No. 232/99). The case grows out of a joint venture agreement between BK and the Company related to marketing of RoadRailer trailers in Brazil and other areas of South America. When BK was placed into the Brazilian equivalent of bankruptcy late in 2000, the joint venture was dissolved. BK subsequently filed its lawsuit against the Company alleging that it was forced to terminate business with other companies because of the exclusivity and non-compete clauses purportedly found in the joint venture agreement. BK asserted damages, exclusive of any potentially court-imposed interest or inflation adjustments, of approximately R$ 20.8 A bench (non-jury) trial was held on March 30, 2010 in Curitiba, Paraná, Brazil. On November 22, 2011, the Fourth Civil Court of Curitiba partially granted BK’s claims, and ordered Wabash to pay BK lost profits, compensatory, economic and moral damages in excess of the amount of compensatory damages asserted by BK. The total ordered damages amount is approximately R$ 26.7 6.5 45 Intellectual Property In October 2006, the Company filed a patent infringement suit against Vanguard National Corporation (“Vanguard”) regarding the Company’s U.S. Patent Nos. 6,986,546 and 6,220,651 in the U.S. District Court for the Northern District of Indiana (Civil Action No. 4:06-cv-135). The Company amended the Complaint in April 2007. In May 2007, Vanguard filed its Answer to the Amended Complaint, along with Counterclaims seeking findings of non-infringement, invalidity, and unenforceability of the subject patents. The Company filed a reply to Vanguard’s counterclaims in May 2007, denying any wrongdoing or merit to the allegations as set forth in the counterclaims. The case has currently been stayed by agreement of the parties while the U.S. Patent and Trademark Office (“Patent Office”) undertakes a reexamination of U.S. Patent Nos. 6,986,546. In June 2010, the Patent Office notified the Company that the reexamination is complete and the Patent Office has reissued U.S. Patent No. 6,986,546 without cancelling any claims of the patent. The parties have not yet petitioned the Court to lift the stay, and it is unknown at this time when the parties’ petition to lift the stay may be filed or granted. The Company believes that its claims against Vanguard have merit and that the claims asserted by Vanguard are without merit. The Company intends to vigorously defend its position and intellectual property. The Company does not believe that the resolution of this lawsuit will have a material adverse effect on its financial position, liquidity or future results of operations. However, at this stage of the proceeding, no assurance can be given as to the ultimate outcome of the case. Walker Acquisition In connection with the Company’s acquisition of Walker in May 2012, there is an outstanding claim of approximately $ 2.9 Environmental Disputes In August 2014, the Company was noticed as a potentially responsible party (“PRP”) by the South Carolina Department of Health and Environmental Control (“DHEC”) pertaining to the Philip Services Site located in Rock Hill, South Carolina pursuant to the Comprehensive Environmental Response, Compensation and Liability Act (“CERCLA”) and corresponding South Carolina statutes. PRPs include parties identified through manifest records as having contributed to deliveries of hazardous substances to the Philip Services Site between 1979 and 1999. The DHEC’s allegation that the Company was a PRP arises out of four manifest entries in 1989 under the name of a company unaffiliated with Wabash National (or any of its former or current subsidiaries) that purport to be delivering a de minimis amount of hazardous waste to the Philip Services Site “c/o Wabash National Corporation.” As such, the Philip Services Site PRP Group (“PRP Group”) notified Wabash in August 2014 that is was offering the Company the opportunity to resolve any liabilities associated with the Philip Services Site by entering into a Cash Out and Reopener Settlement Agreement (the “Settlement Agreement”) with the PRP Group, as well as a Consent Decree with the DHEC. The Company has accepted the offer from the PRP Group to enter into the Settlement Agreement and Consent Decree, while reserving its rights to contest its liability for any deliveries of hazardous materials to the Philips Services Site. The requested settlement payment is immaterial to the Company’s financial conditions or operations, and as a result, if the Settlement Agreement and Consent Decree are finalized, the payment to be made by the Company thereunder is not expected to have a material adverse effect on the Company’s financial condition or results of operations. Bulk Tank International, S. de R.L. de C.V. (“Bulk”) entered into agreements in 2011 with the Mexican federal environmental agency, PROFEPA, and the applicable state environmental agency, PROPAEG, pursuant to PROFEPA’s and PROPAEG’s respective environmental audit programs to resolve noncompliance with federal and state environmental laws at Bulk’s Guanajuato facility. Bulk completed all required corrective actions and received a Certification of Clean Industry from PROPAEG, and is seeking the same certification from PROFEPA, which the Company expects it will receive by early 2016, following the conclusion of a final audit process that began in December 2014. As a result, the Company does not expect that this matter will have a material adverse effect on its financial condition or results of operations. In January 2012, the Company was noticed as a PRP by the U.S. Environmental Protection Agency (“EPA”) and the Louisiana Department of Environmental Quality (“LDEQ”) pertaining to the Marine Shale Processors Site located in Amelia, Louisiana (“MSP Site”) pursuant to CERCLA and corresponding Louisiana statutes. PRPs include current and former owners and operators of facilities at which hazardous substances were allegedly disposed. The EPA’s allegation that the Company is a PRP arises out of one alleged shipment of waste to the MSP Site in 1992 from the Company’s branch facility in Dallas, Texas. As such, the MSP Site PRP Group notified the Company in January 2012 that, as a result of a March 18, 2009 Cooperative Agreement for Site Investigation and Remediation entered into between the MSP Site PRP Group and the LDEQ, the Company was being offered a “De Minimis Cash-Out Settlement” to contribute to the remediation costs, which would remain open until February 29, 2012. The Company chose not to enter into the settlement and has denied any liability. In addition, the Company has requested that the MSP Site PRP Group remove the Company from the list of PRPs for the MSP Site, based upon the following facts: the Company acquired this branch facility in 1997 – five years after the alleged shipment - as part of the assets the Company acquired out of the Fruehauf Trailer Corporation (“Fruehauf”) bankruptcy (Case No. 96-1563, United States Bankruptcy Court, District of Delaware (“Bankruptcy Court”)); as part of the Asset Purchase Agreement regarding the Company’s purchase of assets from Fruehauf, the Company did not assume liability for “Off-Site Environmental Liabilities,” which are defined to include any environmental claims arising out of the treatment, storage, disposal or other disposition of any Hazardous Substance at any location other than any of the acquired locations/assets; the Bankruptcy Court, in an Order dated May 26, 1999, also provided that, except for those certain specified liabilities assumed by the Company under the terms of the Asset Purchase Agreement, the Company and its subsidiaries shall not be subject to claims asserting successor liability; and the “no successor liability” language of the Asset Purchase Agreement and the Bankruptcy Court Order form the basis for the Company’s request that it be removed from the list of PRPs for the MSP Site. The MSP Site PRP Group is currently considering the Company’s request, but has provided no timeline to the Company for a response. However, the MSP Site PRP Group has agreed to indefinitely extend the time period by which the Company must respond to the De Minimis Cash-Out Settlement offer. The Company does not expect that this proceeding will have a material adverse effect on its financial condition or results of operations. In September 2003, the Company was noticed as a PRP by the EPA pertaining to the Motorola 52nd Street, Phoenix, Arizona Superfund Site (the “Superfund Site”) pursuant to CERCLA. The EPA’s allegation that the Company was a PRP arises out of the Company’s acquisition of a former branch facility located approximately five miles from the original Superfund Site. The Company acquired this facility in 1997, operated the facility until 2000, and sold the facility to a third party in 2002. In June 2010, the Company was contacted by the Roosevelt Irrigation District (“RID”) informing it that the Arizona Department of Environmental Quality (“ADEQ”) had approved a remediation plan in excess of $ 100 In January 2006, the Company received a letter from the North Carolina Department of Environment and Natural Resources indicating that a site that the Company formerly owned near Charlotte, North Carolina has been included on the state's October 2005 Inactive Hazardous Waste Sites Priority List. The letter states that the Company was being notified in fulfillment of the state's “statutory duty” to notify those who own and those who at present are known to be responsible for each Site on the Priority List. Following receipt of this notice, no action has ever been requested from the Company, and since 2006 the Company has not received any further communications regarding this matter from the state of North Carolina. The Company does not expect that this designation will have a material adverse effect on its financial condition or results of operations.

NET INCOME PER SHARE

NET INCOME PER SHARE	9 Months Ended
	Sep. 30, 2015
Earnings Per Share [Abstract]
NET INCOME PER SHARE	7. NET INCOME PER SHARE Per share results have been calculated based on the average number of common shares outstanding. The calculation of basic and diluted net income per share is determined using net income applicable to common stockholders as the numerator and the number of shares included in the denominator as follows (in thousands, except per share amounts): Three Months Ended Nine Months Ended September 30, September 30, 2015 2014 2015 2014 Basic net income per share: Net income applicable to common stockholders $ 31,880 $ 18,307 $ 71,002 $ 41,842 Undistributed earnings allocated to participating securities - (103) - (340) Net income applicable to common stockholders excluding amounts applicable to participating securities $ 31,880 $ 18,204 $ 71,002 $ 41,502 Weighted average common shares outstanding 66,524 68,976 67,608 68,862 Basic net income per share $ 0.48 $ 0.26 $ 1.05 $ 0.60 Diluted net income per share: Net income applicable to common stockholders $ 31,880 $ 18,307 $ 71,002 $ 41,842 Undistributed earnings allocated to participating securities - (103) - (340) Net income applicable to common stockholders excluding amounts applicable to participating securities $ 31,880 $ 18,204 $ 71,002 $ 41,502 Weighted average common shares outstanding 66,524 68,976 67,608 68,862 Dilutive shares from assumed conversion of convertible senior notes 611 1,949 1,462 1,806 Dilutive stock options and restricted stock 907 994 1,019 855 Diluted weighted average common shares outstanding 68,042 71,919 70,089 71,523 Diluted net income per share $ 0.47 $ 0.25 $ 1.01 $ 0.58 Average diluted shares outstanding for the three and nine month periods ended September 30, 2015 and 2014 exclude options to purchase common shares totaling 759 and 504 636 538 11.70

INCOME TAXES

INCOME TAXES	9 Months Ended
	Sep. 30, 2015
Income Tax Disclosure [Abstract]
INCOME TAXES	8. INCOME TAXES The Company recognized income tax expense of $ 42.4 27.9 37.4 35 40.0 35

OTHER ACCRUED LIABILITIES

OTHER ACCRUED LIABILITIES	9 Months Ended
	Sep. 30, 2015
Payables and Accruals [Abstract]
OTHER ACCRUED LIABILITIES	9. OTHER ACCRUED LIABILITIES Other Accrued Liabilities September 30, December 31, 2015 2014 Payroll and related taxes $ 36,644 $ 30,362 Customer Deposits 31,261 21,680 Warranty 16,987 15,462 Self-Insurance 9,371 7,543 Accrued Taxes 7,759 8,371 All Other 9,833 5,272 $ 111,855 $ 88,690 Other Accrued Liabilities September 30, September 30, 2015 2014 Balance as of January 1 $ 15,462 $ 14,719 Provision for warranties issued in current year 5,578 4,975 Recovery of pre-existing warranties (289) (112) Payments (3,764) (4,097) Balance as of September 30 $ 16,987 $ 15,485 The Company offers a limited warranty for its products with a coverage period that ranges between one and five years, except that the coverage period for DuraPlate ®

STOCKHOLDERS' EQUITY

STOCKHOLDERS' EQUITY	9 Months Ended
	Sep. 30, 2015
Stockholders' Equity Note [Abstract]
STOCKHOLDERS' EQUITY	10. STOCKHOLDERS’ EQUITY On March 30, 2015, the Company executed an amendment to its Stockholders’ Rights Plan (the “Rights Plan”) pursuant to which the final expiration date was advanced from December 28, 2015 to March 30, 2015. As a result of the amendment, effective as of the close of business on March 30, 2015, the Rights Plan expired and all rights, as defined in the Rights Plan, are no longer outstanding.

SEGMENTS

SEGMENTS	9 Months Ended
	Sep. 30, 2015
Segment Reporting [Abstract]
SEGMENTS	11. SEGMENTS a. Segment Reporting The Company manages its business in three segments: Commercial Trailer Products, Diversified Products and Retail. The Commercial Trailer Products segment produces and sells new trailers to the Retail segment and to customers who purchase trailers directly from the Company or through independent dealers. The Diversified Products segment focuses on the Company’s commitment to expand its customer base, diversify its product offerings and revenues and extend its market leadership by leveraging its proprietary DuraPlate ® Commercial Diversified Corporate and Three Months Ended September 30, Trailer Products Products Retail Eliminations Consolidated 2015 Net Sales External Customers $ 372,690 $ 116,953 $ 41,707 $ - $ 531,350 Intersegment Sales 14,342 3,266 204 (17,812) - Total Net Sales $ 387,032 $ 120,219 $ 41,911 $ (17,812) $ 531,350 Income (Loss) from operations $ 45,610 $ 16,789 $ 1,322 $ (7,332) $ 56,389 Reconciling items to income before income taxes Interest Expense (4,784) Other, net (187) Income before income taxes $ 51,418 2014 Net Sales External Customers $ 334,180 $ 112,553 $ 44,964 $ - $ 491,697 Intersegment Sales 17,771 3,285 202 (21,258) - Total Net Sales $ 351,951 $ 115,838 $ 45,166 $ (21,258) $ 491,697 Income (Loss) from operations $ 25,166 $ 13,071 $ 859 $ (4,167) $ 34,929 Reconciling items to income before income taxes Interest Expense (5,454) Other, net (610) Income before income taxes $ 28,865 Commercial Diversified Corporate and Nine Months Ended September 30, Trailer Products Products Retail Eliminations Consolidated 2015 Net Sales External Customers $ 1,041,510 $ 312,509 $ 129,759 $ - $ 1,483,778 Intersegment Sales 54,544 9,639 756 (64,939) - Total Net Sales $ 1,096,054 $ 322,148 $ 130,515 $ (64,939) $ 1,483,778 Income (Loss) from operations $ 107,394 $ 36,383 $ 3,811 $ (21,882) $ 125,706 Reconciling items to income before income taxes Interest Expense (14,759) Other, net 2,500 Income before income taxes $ 113,447 2014 Net Sales External Customers $ 860,964 $ 333,184 $ 141,690 $ - $ 1,335,838 Intersegment Sales 54,881 10,051 696 (65,628) - Total Net Sales $ 915,845 $ 343,235 $ 142,386 $ (65,628) $ 1,335,838 Income (Loss) from operations $ 55,948 $ 40,643 $ 3,190 $ (11,532) $ 88,249 Reconciling items to income before income taxes Interest Expense (16,904) Other, net (1,626) Income before income taxes $ 69,719 The Company offers products primarily in four general categories: (1) new trailers, (2) used trailers, (3) components, parts and service and (4) equipment and other. The following table sets forth the major product categories and their percentage of consolidated net sales (dollars in thousands): Commercial Diversified Corporate and Trailer Products Products Retail Eliminations Consolidated Three Months Ended September 30, $ $ $ $ $ % 2015 New Trailers 375,999 64,360 15,456 (13,565) 442,250 83.2 Used Trailers 5,397 921 3,785 (741) 9,362 1.8 Components, parts and service 1,658 25,289 21,856 (3,172) 45,631 8.6 Equipment and other 3,978 29,649 814 (334) 34,107 6.4 Total net sales 387,032 120,219 41,911 (17,812) 531,350 100.0 2014 New Trailers 344,416 53,689 20,701 (17,737) 401,069 81.6 Used Trailers 1,956 908 4,164 - 7,028 1.4 Components, parts and service 954 24,220 19,430 (3,623) 40,981 8.3 Equipment and other 4,625 37,021 871 102 42,619 8.7 Total net sales 351,951 115,838 45,166 (21,258) 491,697 100.0 Nine Months Ended September 30, 2015 New Trailers 1,067,326 169,612 54,431 (52,168) 1,239,201 83.5 Used Trailers 13,588 3,412 10,650 (2,157) 25,493 1.7 Components, parts and service 4,629 72,047 63,362 (9,391) 130,647 8.8 Equipment and other 10,511 77,077 2,072 (1,223) 88,437 6.0 Total net sales 1,096,054 322,148 130,515 (64,939) 1,483,778 100.0 2014 New Trailers 880,541 162,626 65,283 (54,681) 1,053,769 78.9 Used Trailers 21,788 3,345 12,970 - 38,103 2.8 Components, parts and service 2,404 81,360 61,562 (10,809) 134,517 10.1 Equipment and other 11,112 95,904 2,571 (138) 109,449 8.2 Total net sales 915,845 343,235 142,386 (65,628) 1,335,838 100.0

NEW ACCOUNTING PRONOUNCEMENTS

NEW ACCOUNTING PRONOUNCEMENTS	9 Months Ended
	Sep. 30, 2015
New Accounting Pronouncements and Changes in Accounting Principles [Abstract]
NEW ACCOUNTING PRONOUNCEMENTS	12. NEW ACCOUNTING PRONOUNCEMENTS In May 2014, the Financial Accounting Standards Board (the “FASB”) issued Accounting Standards Update (“ASU”) No. 2014-09, Revenue from Contracts with Customers Revenue Recognition Revenue from Contracts with Customers (Topic 606), In August 2014, the FASB issued ASU No. 2014-15, Presentation of Financial Statements – Going Concern In April 2015, the FASB issued ASU No. 2015-03, Imputation of Interest Imputation of Interest, Presentation and Subsequent Measurement of Debt Issuance Costs Associated with Line-of-Credit Agreements In July 2015, the FASB issued ASU No. 2015-11, Simplifying the Measurement of Inventory

INVENTORIES (Tables)

INVENTORIES (Tables)	9 Months Ended
	Sep. 30, 2015
Inventory Disclosure [Abstract]
Inventories	Inventories are stated at the lower of cost, primarily determined on the first-in, first-out (FIFO) method, or market. The cost of manufactured inventory includes raw material, labor and overhead. Inventories consist of the following (in thousands): September 30, December 31, 2015 2014 Finished goods $ 109,906 $ 68,923 Used trailers 10,402 12,783 Raw materials and components 69,843 63,847 Aftermarket parts 9,131 8,446 Work in progress 28,228 23,145 $ 227,510 $ 177,144

DEBT (Tables)

DEBT (Tables)	9 Months Ended
	Sep. 30, 2015
Debt Disclosure [Abstract]
Long-Term Debt	Long-term debt consists of the following (in thousands): September 30, December 31, 2015 2014 Convertible senior notes $ 150,000 $ 150,000 Term loan credit agreement 191,881 192,845 Revolving credit agreement 52 - Industrial revenue bond 1,275 1,645 $ 343,208 $ 344,490 Less: unamortized discount (13,129) (19,217) Less: current portion (2,440) (496) $ 327,639 $ 324,777
Equity and Liability Components of Notes	The following table summarizes information about the equity and liability components of the Notes (dollars in thousands). The fair value of the Notes outstanding were measured based on quoted market prices. September 30, December 31, 2015 2014 Principal amount of the Notes outstanding $ 150,000 $ 150,000 Unamortized discount of liability component (12,235) (15,399) Net carrying amount of liability component 137,765 134,601 Less: current portion - - Long-term debt $ 137,765 $ 134,601 Carrying value of equity component, net of issuance costs $ 20,993 $ 20,993 Remaining amortization period of discount on the liability component 2.5 years 3.3 years
Contractual Coupon Interest Expense and Accretion Of Discount On Liability	Contractual coupon interest expense and accretion of discount on the liability component for the Notes for the three and nine month periods ended September 30, 2015 and 2014 were as follow (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2015 2014 2015 2014 Contractual coupon interest expense $ 1,266 $ 1,266 $ 3,797 $ 3,797 Accretion of discount on the liability component $ 1,073 $ 1,002 $ 3,164 $ 2,954

FAIR VALUE MEASUREMENTS (Tables

FAIR VALUE MEASUREMENTS (Tables)	9 Months Ended
	Sep. 30, 2015
Fair Value Disclosures [Abstract]
Financial Assets and Liabilities Accounted For at Fair Value on Recurring Basis	The Company’s carrying and estimated fair value of debt at September 30, 2015 and December 31, 2014 were as follows: September 30, 2015 December 31, 2014 Carrying Fair Value Carrying Fair Value Value Level 1 Level 2 Level 3 Value Level 1 Level 2 Level 3 Instrument Convertible senior notes $ 137,765 $ - $ 168,855 $ - $ 134,601 $ - $ 188,490 $ - Term loan credit agreement 191,039 - 191,401 - 189,027 - 192,845 - Industrial revenue bond 1,275 - - 1,275 1,645 - - 1,645 Capital lease obligations 2,918 - - 2,918 7,254 - - 7,254 $ 332,997 $ - $ 360,256 $ 4,193 $ 332,527 $ - $ 381,335 $ 8,899

NET INCOME PER SHARE (Tables)

NET INCOME PER SHARE (Tables)	9 Months Ended
	Sep. 30, 2015
Earnings Per Share [Abstract]
Calculation of Basic and Diluted Net Income Per Share	The calculation of basic and diluted net income per share is determined using net income applicable to common stockholders as the numerator and the number of shares included in the denominator as follows (in thousands, except per share amounts): Three Months Ended Nine Months Ended September 30, September 30, 2015 2014 2015 2014 Basic net income per share: Net income applicable to common stockholders $ 31,880 $ 18,307 $ 71,002 $ 41,842 Undistributed earnings allocated to participating securities - (103) - (340) Net income applicable to common stockholders excluding amounts applicable to participating securities $ 31,880 $ 18,204 $ 71,002 $ 41,502 Weighted average common shares outstanding 66,524 68,976 67,608 68,862 Basic net income per share $ 0.48 $ 0.26 $ 1.05 $ 0.60 Diluted net income per share: Net income applicable to common stockholders $ 31,880 $ 18,307 $ 71,002 $ 41,842 Undistributed earnings allocated to participating securities - (103) - (340) Net income applicable to common stockholders excluding amounts applicable to participating securities $ 31,880 $ 18,204 $ 71,002 $ 41,502 Weighted average common shares outstanding 66,524 68,976 67,608 68,862 Dilutive shares from assumed conversion of convertible senior notes 611 1,949 1,462 1,806 Dilutive stock options and restricted stock 907 994 1,019 855 Diluted weighted average common shares outstanding 68,042 71,919 70,089 71,523 Diluted net income per share $ 0.47 $ 0.25 $ 1.01 $ 0.58

OTHER ACCRUED LIABILITIES (Tabl

OTHER ACCRUED LIABILITIES (Tables)	9 Months Ended
	Sep. 30, 2015
Payables and Accruals [Abstract]
Other Accrued Liabilities	The following table presents major components of Other Accrued Liabilities September 30, December 31, 2015 2014 Payroll and related taxes $ 36,644 $ 30,362 Customer Deposits 31,261 21,680 Warranty 16,987 15,462 Self-Insurance 9,371 7,543 Accrued Taxes 7,759 8,371 All Other 9,833 5,272 $ 111,855 $ 88,690
Changes in product warranty accrual	The following table presents the changes in the product warranty accrual included in Other Accrued Liabilities September 30, September 30, 2015 2014 Balance as of January 1 $ 15,462 $ 14,719 Provision for warranties issued in current year 5,578 4,975 Recovery of pre-existing warranties (289) (112) Payments (3,764) (4,097) Balance as of September 30 $ 16,987 $ 15,485

SEGMENTS (Tables)

SEGMENTS (Tables)	9 Months Ended
	Sep. 30, 2015
Segment Reporting [Abstract]
Reportable Segment Information	The Company manages its assets on a consolidated basis, not by operating segment, as the assets of the Diversified Products segment are intermixed with those of the Commercial Trailer Products segment. Therefore, our chief operating decision maker does not review any asset information by operating segment and, accordingly, we do not report asset information by operating segment. Reportable segment information is as follows (in thousands): Commercial Diversified Corporate and Three Months Ended September 30, Trailer Products Products Retail Eliminations Consolidated 2015 Net Sales External Customers $ 372,690 $ 116,953 $ 41,707 $ - $ 531,350 Intersegment Sales 14,342 3,266 204 (17,812) - Total Net Sales $ 387,032 $ 120,219 $ 41,911 $ (17,812) $ 531,350 Income (Loss) from operations $ 45,610 $ 16,789 $ 1,322 $ (7,332) $ 56,389 Reconciling items to income before income taxes Interest Expense (4,784) Other, net (187) Income before income taxes $ 51,418 2014 Net Sales External Customers $ 334,180 $ 112,553 $ 44,964 $ - $ 491,697 Intersegment Sales 17,771 3,285 202 (21,258) - Total Net Sales $ 351,951 $ 115,838 $ 45,166 $ (21,258) $ 491,697 Income (Loss) from operations $ 25,166 $ 13,071 $ 859 $ (4,167) $ 34,929 Reconciling items to income before income taxes Interest Expense (5,454) Other, net (610) Income before income taxes $ 28,865 Commercial Diversified Corporate and Nine Months Ended September 30, Trailer Products Products Retail Eliminations Consolidated 2015 Net Sales External Customers $ 1,041,510 $ 312,509 $ 129,759 $ - $ 1,483,778 Intersegment Sales 54,544 9,639 756 (64,939) - Total Net Sales $ 1,096,054 $ 322,148 $ 130,515 $ (64,939) $ 1,483,778 Income (Loss) from operations $ 107,394 $ 36,383 $ 3,811 $ (21,882) $ 125,706 Reconciling items to income before income taxes Interest Expense (14,759) Other, net 2,500 Income before income taxes $ 113,447 2014 Net Sales External Customers $ 860,964 $ 333,184 $ 141,690 $ - $ 1,335,838 Intersegment Sales 54,881 10,051 696 (65,628) - Total Net Sales $ 915,845 $ 343,235 $ 142,386 $ (65,628) $ 1,335,838 Income (Loss) from operations $ 55,948 $ 40,643 $ 3,190 $ (11,532) $ 88,249 Reconciling items to income before income taxes Interest Expense (16,904) Other, net (1,626) Income before income taxes $ 69,719
Major Product Categories and Percentage of Consolidated Net Sales	b. Product Information The Company offers products primarily in four general categories: (1) new trailers, (2) used trailers, (3) components, parts and service and (4) equipment and other. The following table sets forth the major product categories and their percentage of consolidated net sales (dollars in thousands): Commercial Diversified Corporate and Trailer Products Products Retail Eliminations Consolidated Three Months Ended September 30, $ $ $ $ $ % 2015 New Trailers 375,999 64,360 15,456 (13,565) 442,250 83.2 Used Trailers 5,397 921 3,785 (741) 9,362 1.8 Components, parts and service 1,658 25,289 21,856 (3,172) 45,631 8.6 Equipment and other 3,978 29,649 814 (334) 34,107 6.4 Total net sales 387,032 120,219 41,911 (17,812) 531,350 100.0 2014 New Trailers 344,416 53,689 20,701 (17,737) 401,069 81.6 Used Trailers 1,956 908 4,164 - 7,028 1.4 Components, parts and service 954 24,220 19,430 (3,623) 40,981 8.3 Equipment and other 4,625 37,021 871 102 42,619 8.7 Total net sales 351,951 115,838 45,166 (21,258) 491,697 100.0 Nine Months Ended September 30, 2015 New Trailers 1,067,326 169,612 54,431 (52,168) 1,239,201 83.5 Used Trailers 13,588 3,412 10,650 (2,157) 25,493 1.7 Components, parts and service 4,629 72,047 63,362 (9,391) 130,647 8.8 Equipment and other 10,511 77,077 2,072 (1,223) 88,437 6.0 Total net sales 1,096,054 322,148 130,515 (64,939) 1,483,778 100.0 2014 New Trailers 880,541 162,626 65,283 (54,681) 1,053,769 78.9 Used Trailers 21,788 3,345 12,970 - 38,103 2.8 Components, parts and service 2,404 81,360 61,562 (10,809) 134,517 10.1 Equipment and other 11,112 95,904 2,571 (138) 109,449 8.2 Total net sales 915,845 343,235 142,386 (65,628) 1,335,838 100.0

Inventories (Detail)

Inventories (Detail) - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014
Inventory [Line Items]
Finished goods	$ 109,906	$ 68,923
Used trailers	10,402	12,783
Raw materials and components	69,843	63,847
Aftermarket parts	9,131	8,446
Work in progress	28,228	23,145
Total, Inventories	$ 227,510	$ 177,144

Debt - Additional Information (

Debt - Additional Information (Detail)

Jun. 04, 2015USD ($)

Mar. 19, 2015USD ($)

Apr. 30, 2013USD ($)

Nov. 30, 2012USD ($)

Apr. 30, 2012USD ($)

Sep. 30, 2015USD ($)$ / shares

Sep. 30, 2014USD ($)

Jun. 30, 2015USD ($)

Sep. 30, 2015USD ($)$ / shares

Sep. 30, 2014USD ($)

Dec. 31, 2014USD ($)

May. 31, 2012USD ($)

Debt Instrument [Line Items]

Notes issued, aggregate principal amount

$ 343,208,000

$ 343,208,000

$ 344,490,000

Notes initial conversion price | $ / shares

$ 11.70

$ 11.70

Current portion of long-term debt

$ 2,440,000

$ 2,440,000

496,000

Debt issuance costs paid

2,581,000

$ 0

Interest expense

4,784,000

$ 5,454,000

14,759,000

16,904,000

Line of credit facility, decrease, repayments

613,000

565,000

Proceeds from Sale of Property, Plant, and Equipment

13,180,000

86,000

Prepaid Expense and Other Assets, Current

18,265,000

18,265,000

10,203,000

Loan Agreement

Debt Instrument [Line Items]

Notes issued, aggregate principal amount

$ 2,500,000

Notes issued, interest rate

4.25%

Long-term debt

1,300,000

1,300,000

Current portion of long-term debt

500,000

500,000

Debt Instrument, Maturity Date, Description

matures in March 2018

Convertible Senior Notes

Debt Instrument [Line Items]

Notes issued, aggregate principal amount

$ 150,000,000

Notes issued, interest rate

3.375%

Debt Instrument Maturity Year

2,018

Convertible Senior Notes | Walker Group Holdings Llc [Member]

Debt Instrument [Line Items]

Proceeds from issuance of convertible senior notes

$ 145,100,000

Unsecured Debt | Convertible Senior Notes

Debt Instrument [Line Items]

Notes initial conversion rate per 1,000 in principal amount

85.4372

Principal amount of notes conversation for 85.4372 shares of common stock

$ 1,000

$ 1,000

Notes initial conversion price | $ / shares

$ 11.70

$ 11.70

Convertible notes, conversation date

Nov. 1, 2017

Proceeds from notes issued

$ 1,000

Estimated implied interest rate

7.00%

7.00%

Fair value of liability component upon issuance

$ 123,800,000

$ 123,800,000

Difference between cash proceeds before offering expenses and the estimated fair value of liability component

21,700,000

21,700,000

Proceeds from issuance of convertible senior notes

$ 145,500,000

Unsecured Debt | Convertible Senior Notes | Scenario 1

Debt Instrument [Line Items]

Number of consecutive trading days

30 days

Last reported sale price of common stock as percentage of conversion price

130.00%

Unsecured Debt | Convertible Senior Notes | Scenario 2

Debt Instrument [Line Items]

Convertible senior notes, trading price per $1,000 principal amount of notes as percentage of the product of the last reported sale price of common stock and the conversion rate

98.00%

Amended Credit Agreement

Debt Instrument [Line Items]

Interest Paid

$ 7,100,000

7,900,000

Current portion of long-term debt

1,900,000

1,900,000

Debt issuance costs paid

900,000

Interest expense

200,000

700,000

Other Expenses

5,300,000

Debt Instrument, Periodic Payment, Principal

1,000,000

$ 42,100,000

Revolving Credit Facility

Debt Instrument [Line Items]

Notes issued, aggregate principal amount

$ 150,000,000

Credit facility, borrowing capacity

$ 175,000,000

Line of Credit Facility, Remaining Borrowing Capacity

366,000,000

366,000,000

Debt Instrument, Term

5 years

Line Of Credit Facility Amendment Description

Liquidity of at least $125 million and (y) availability under the Credit Facility of at least $25 million. Liquidity, as defined in the Credit Agreement, reflects the difference between (i) the sum of (A) unrestricted cash and cash equivalents and (B) availability under the Credit Facility and (ii) the amount necessary to fully redeem the Notes

Debt Instrument, Maturity Date, Description

extends the maturity date of the Credit Facility from May 8, 2017 to June 4, 2020

Proceeds from Sale of Property, Plant, and Equipment

$ 13,100,000

Debt Instrument Payment Description

Further, a mandatory principal payment is required for asset sales greater than $10.0 million, with the amount of the required payment equal to the excess above $10.0 million, or $3.1 million

Line of Credit Facility, Maximum Amount Outstanding During Period

100,000

Revolving Credit Facility | LIBOR

Debt Instrument [Line Items]

Debt Instrument, Description of Variable Rate Basis

basis points (in lieu of the previous range from 175 basis points to 225 basis points), or (y) a base rate plus a margin ranging from 50 basis points to 100 basis points (in lieu of the previous range from 75 basis points to 125 basis points), in each case, based upon the monthly average excess availability under the Credit Facility, (ii) provides that the monthly unused line fee shall be equal to 25 basis points (which amount was previously 37.5 basis points) times the average unused availability under the Credit Facility, (iii) provides that if availability under the Credit Facility is less than 12.5% (which threshold was previously 15%) of the total commitment under the Credit Facility or if there exists an event of default, amounts in any of the Borrowers and the subsidiary guarantors deposit accounts (other than certain excluded accounts) will be transferred daily into a blocked account held by the Agent and applied to reduce the outstanding amounts under the Credit Facility

Term Loan Credit Facilty

Debt Instrument [Line Items]

Notes issued, aggregate principal amount

191,881,000

191,881,000

$ 192,845,000

Line of credit facility potential term extension period

91 days

Percentage of tranche loan amount on equal quarterly installments

0.25%

Debt Instrument Payment Percentage

1.00%

Term Loan Credit Facilty | LIBOR

Debt Instrument [Line Items]

Debt Instrument, Maturity Date, Description

LIBOR (subject to a floor of 1.00%) plus a margin of 3.25% or (ii) a base rate plus a margin of 2.25%

Term Loan Credit Facilty | Tranche B-2 Loans [Member]

Debt Instrument [Line Items]

Notes issued, aggregate principal amount

$ 192,800,000

Credit facility, maturity date

Mar. 19, 2022

Term Loan Credit Facilty | Senior Secured Credit Facility

Debt Instrument [Line Items]

Line of Credit Facility, Amount Outstanding

$ 300,000,000

Term Loan Credit Facilty | Incremental Senior Credit Facility

Debt Instrument [Line Items]

Credit facility, borrowing capacity

$ 75,000,000

Senior Secured Leverage Ratio

3.00 to 1.00

Term Loan Credit Facilty | Amended Credit Agreement

Debt Instrument [Line Items]

Line of Credit Facility, Remaining Borrowing Capacity

$ 297,000,000

Long-term debt

277,000,000

Line of credit facility, decrease, repayments

$ 20,000,000

Term Loan Credit Agreement [Member]

Debt Instrument [Line Items]

Prepaid Expense and Other Assets, Current

192,022,000,000

192,022,000,000

Amounts Reinvest on Qualified Assets

$ 2,000,000

$ 2,000,000

Minimum

Debt Instrument [Line Items]

Debt Conversion, Converted Instrument, Amount

$ 125,000,000

Components of Long Term Debt (D

Components of Long Term Debt (Detail) - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014
Debt Instrument [Line Items]
Principal amount of convertible notes outstanding	$ 343,208	$ 344,490
Less: unamortized discount	(13,129)	(19,217)
Less: current portion	(2,440)	(496)
LONG-TERM DEBT	327,639	324,777
Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Principal amount of convertible notes outstanding	52	0
Term loan credit agreement
Debt Instrument [Line Items]
Principal amount of convertible notes outstanding	191,881	192,845
Industrial revenue bond
Debt Instrument [Line Items]
Principal amount of convertible notes outstanding	1,275	1,645
Convertible Senior Notes
Debt Instrument [Line Items]
Principal amount of convertible notes outstanding	$ 150,000	$ 150,000

Equity and Liability Components

Equity and Liability Components of Notes (Detail) - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2015	Dec. 31, 2014
Debt Instrument [Line Items]
Principal amount of the Notes outstanding	$ 343,208	$ 344,490
Unamortized discount of liability component	(13,129)	(19,217)
Less: current portion	2,440	496
Long-term debt	327,639	324,777
Convertible Senior Notes
Debt Instrument [Line Items]
Principal amount of the Notes outstanding	150,000	150,000
Unamortized discount of liability component	(12,235)	(15,399)
Net carrying amount of liability component	137,765	134,601
Less: current portion	0	0
Long-term debt	137,765	134,601
Carrying value of equity component, net of issuance costs	$ 20,993	$ 20,993
Remaining amortization period of discount on the liability component	2 years 6 months	3 years 3 months 18 days

Contractual Coupon Interest Exp

Contractual Coupon Interest Expense (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Debt Instrument [Line Items]
Contractual coupon interest expense	$ 1,266	$ 1,266	$ 3,797	$ 3,797
Accretion of discount on the liability component	$ 1,073	$ 1,002	$ 3,164	$ 2,954

Fair Value Measurements - Addit

Fair Value Measurements - Additional Information (Detail) $ in Millions	Sep. 30, 2015USD ($)
Fair Value, Inputs, Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets, fair value disclosure, recurring	$ 0.8
Fair Value, Inputs, Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets, fair value disclosure, recurring	$ 8.2

Financial Assets and Liabilitie

Financial Assets and Liabilities Accounted For at Fair Value on Recurring Basis (Detail) - USD ($)	Sep. 30, 2015	Dec. 31, 2014
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt and Capital Lease Obligations	$ 332,997	$ 332,527
Convertible senior notes
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt and Capital Lease Obligations	137,765	134,601
Term loan credit agreement
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt and Capital Lease Obligations	191,039	189,027
Industrial revenue bond
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt and Capital Lease Obligations	1,275	1,645
Capital lease obligations
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt and Capital Lease Obligations	2,918	7,254
Fair Value, Inputs, Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt Instrument, Fair Value Disclosure	0	0
Fair Value, Inputs, Level 1 | Convertible senior notes
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt Instrument, Fair Value Disclosure	0	0
Fair Value, Inputs, Level 1 | Term loan credit agreement
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt Instrument, Fair Value Disclosure	0	0
Fair Value, Inputs, Level 1 | Industrial revenue bond
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt Instrument, Fair Value Disclosure	0	0
Fair Value, Inputs, Level 1 | Capital lease obligations
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt Instrument, Fair Value Disclosure	0	0
Fair Value, Inputs, Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt Instrument, Fair Value Disclosure	360,256	381,335
Fair Value, Inputs, Level 2 | Convertible senior notes
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt Instrument, Fair Value Disclosure	168,855	188,490
Fair Value, Inputs, Level 2 | Term loan credit agreement
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt Instrument, Fair Value Disclosure	191,401	192,845
Fair Value, Inputs, Level 2 | Industrial revenue bond
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt Instrument, Fair Value Disclosure	0	0
Fair Value, Inputs, Level 2 | Capital lease obligations
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt Instrument, Fair Value Disclosure	0	0
Fair Value, Inputs, Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt Instrument, Fair Value Disclosure	4,193	8,899
Fair Value, Inputs, Level 3 | Convertible senior notes
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt Instrument, Fair Value Disclosure	0	0
Fair Value, Inputs, Level 3 | Term loan credit agreement
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt Instrument, Fair Value Disclosure	0	0
Fair Value, Inputs, Level 3 | Industrial revenue bond
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt Instrument, Fair Value Disclosure	1,275	1,645
Fair Value, Inputs, Level 3 | Capital lease obligations
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt Instrument, Fair Value Disclosure	$ 2,918	$ 7,254

Stock-Based Compensation - Addi

Stock-Based Compensation - Additional Information (Detail) $ in Millions	9 Months Ended
	Sep. 30, 2015USD ($)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Compensation costs related to stock options, nonvested restricted stock, stock appreciation rights and performance units not yet recognized	$ 12.2
Recognition period	2,018

Contingencies - Additional Info

Contingencies - Additional Information (Detail) BRL in Millions, $ in Millions	1 Months Ended		3 Months Ended
	Nov. 22, 2011USD ($)	Nov. 22, 2011BRL	Sep. 30, 2015BRL	May. 31, 2012USD ($)	Jun. 30, 2010USD ($)
Loss Contingencies [Line Items]
Damages asserted by BK | BRL			BRL 20.8
Accrual for Environmental Loss Contingencies					$ 100
Business combination, recognized identifiable assets acquired and liabilities assumed, contingent liability				$ 2.9
Court-Imposed Interest, Fees or Inflation Adjustments
Loss Contingencies [Line Items]
Total ordered damages granted to Bk	$ 6.5
Court-Imposed Interest, Fees or Inflation Adjustments | Maximum
Loss Contingencies [Line Items]
Damages asserted by BK	$ 45
Total ordered damages granted to Bk | BRL		BRL 26.7

Net Income Per Share - Addition

Net Income Per Share - Additional Information (Detail) - $ / shares	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Earnings Per Share Disclosure [Line Items]
Average diluted shares outstanding	759	504	636	538
Debt Instrument, Convertible, Conversion Price	$ 11.70		$ 11.70

Calculation of Basic and Dilute

Calculation of Basic and Diluted Net Income Per Share (Detail) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Basic net income per share:
Net income applicable to common stockholders	$ 31,880	$ 18,307	$ 71,002	$ 41,842
Undistributed earnings allocated to participating securities	0	(103)	0	(340)
Net income applicable to common stockholders excluding amounts applicable to participating securities	$ 31,880	$ 18,204	$ 71,002	$ 41,502
Weighted average common shares outstanding	66,524	68,976	67,608	68,862
Basic net income per share	$ 0.48	$ 0.26	$ 1.05	$ 0.60
Diluted net income per share:
Net income applicable to common stockholders	$ 31,880	$ 18,307	$ 71,002	$ 41,842
Undistributed earnings allocated to participating securities	0	(103)	0	(340)
Net income applicable to common stockholders excluding amounts applicable to participating securities	$ 31,880	$ 18,204	$ 71,002	$ 41,502
Weighted average common shares outstanding	66,524	68,976	67,608	68,862
Dilutive shares from assumed conversion of convertible senior notes	611	1,949	1,462	1,806
Dilutive stock options and restricted stock	907	994	1,019	855
Diluted weighted average common shares outstanding	68,042	71,919	70,089	71,523
Diluted net income per share	$ 0.47	$ 0.25	$ 1.01	$ 0.58

Income Taxes - Additional Infor

Income Taxes - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Investments, Owned, Federal Income Tax Note [Line Items]
Effective income tax rate reconciliation at federal statutory income tax rate			37.40%	40.00%
Income Tax Expense (Benefit)	$ 19,538	$ 10,558	$ 42,445	$ 27,877
U.S. Federal
Investments, Owned, Federal Income Tax Note [Line Items]
Effective income tax rate reconciliation at federal statutory income tax rate			35.00%	35.00%

Major Components of Other Accru

Major Components of Other Accrued Liabilities (Detail) - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014	Sep. 30, 2014	Dec. 31, 2013
Accrued Liabilities [Line Items]
Payroll and related taxes	$ 36,644	$ 30,362
Customer Deposits	31,261	21,680
Warranty	16,987	15,462	$ 15,485	$ 14,719
Self-Insurance	9,371	7,543
Accrued Taxes	7,759	8,371
All Other	9,833	5,272
Other accrued liabilities	$ 111,855	$ 88,690

Product Warranty Accrual Includ

Product Warranty Accrual Included in Other Accrued Liabilities (Detail) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014
Other Accrued Liabilities [Line Items]
Balance as of January 1	$ 15,462	$ 14,719
Provision for warranties issued in current year	5,578	4,975
Recovery of pre-existing warranties	(289)	(112)
Payments	(3,764)	(4,097)
Balance as of September 30	$ 16,987	$ 15,485

Segments - Additional Informati

Segments - Additional Information (Detail)	9 Months Ended
	Sep. 30, 2015
Segment Reporting Information [Line Items]
Number of reportable segments	3

Reportable Segment Information

Reportable Segment Information (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Net Sales
Total Net Sales	$ 531,350	$ 491,697	$ 1,483,778	$ 1,335,838
Income (Loss) from operations	56,389	34,929	125,706	88,249
Reconciling items to income before income taxes
Interest Expense	(4,784)	(5,454)	(14,759)	(16,904)
Other, net	(187)	(610)	2,500	(1,626)
Income before income taxes	51,418	28,865	113,447	69,719
External Customers
Net Sales
Total Net Sales	531,350	491,697	1,483,778	1,335,838
Intersegment Sales
Net Sales
Total Net Sales	0	0	0	0
Commercial Trailer Products
Net Sales
Total Net Sales	387,032	351,951	1,096,054	915,845
Income (Loss) from operations	45,610	25,166	107,394	55,948
Commercial Trailer Products | External Customers
Net Sales
Total Net Sales	372,690	334,180	1,041,510	860,964
Commercial Trailer Products | Intersegment Sales
Net Sales
Total Net Sales	14,342	17,771	54,544	54,881
Diversified Products
Net Sales
Total Net Sales	120,219	115,838	322,148	343,235
Income (Loss) from operations	16,789	13,071	36,383	40,643
Diversified Products | External Customers
Net Sales
Total Net Sales	116,953	112,553	312,509	333,184
Diversified Products | Intersegment Sales
Net Sales
Total Net Sales	3,266	3,285	9,639	10,051
Retail
Net Sales
Total Net Sales	41,911	45,166	130,515	142,386
Income (Loss) from operations	1,322	859	3,811	3,190
Retail | External Customers
Net Sales
Total Net Sales	41,707	44,964	129,759	141,690
Retail | Intersegment Sales
Net Sales
Total Net Sales	204	202	756	696
Corporate and Eliminations
Net Sales
Total Net Sales	(17,812)	(21,258)	(64,939)	(65,628)
Income (Loss) from operations	(7,332)	(4,167)	(21,882)	(11,532)
Corporate and Eliminations | External Customers
Net Sales
Total Net Sales	0	0	0	0
Corporate and Eliminations | Intersegment Sales
Net Sales
Total Net Sales	$ (17,812)	$ (21,258)	$ (64,939)	$ (65,628)

Major Product Categories and Pe

Major Product Categories and Percentage of Consolidated Net Sales (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Product Information [Line Items]
Total net sales	$ 531,350	$ 491,697	$ 1,483,778	$ 1,335,838
Percentage of consolidated net sales	100.00%	100.00%	100.00%	100.00%
Intersegment Eliminations [Member]
Product Information [Line Items]
Total net sales	$ (17,812)	$ (21,258)	$ (64,939)	$ (65,628)
Commercial Trailer Products
Product Information [Line Items]
Total net sales	387,032	351,951	1,096,054	915,845
Diversified Products
Product Information [Line Items]
Total net sales	120,219	115,838	322,148	343,235
Retail
Product Information [Line Items]
Total net sales	41,911	45,166	130,515	142,386
New Trailers
Product Information [Line Items]
Total net sales	$ 442,250	$ 401,069	$ 1,239,201	$ 1,053,769
Percentage of consolidated net sales	83.20%	81.60%	83.50%	78.90%
New Trailers | Intersegment Eliminations [Member]
Product Information [Line Items]
Total net sales	$ (13,565)	$ (17,737)	$ (52,168)	$ (54,681)
New Trailers | Commercial Trailer Products
Product Information [Line Items]
Total net sales	375,999	344,416	1,067,326	880,541
New Trailers | Diversified Products
Product Information [Line Items]
Total net sales	64,360	53,689	169,612	162,626
New Trailers | Retail
Product Information [Line Items]
Total net sales	15,456	20,701	54,431	65,283
Used Trailers
Product Information [Line Items]
Total net sales	$ 9,362	$ 7,028	$ 25,493	$ 38,103
Percentage of consolidated net sales	1.80%	1.40%	1.70%	2.80%
Used Trailers | Intersegment Eliminations [Member]
Product Information [Line Items]
Total net sales	$ (741)	$ 0	$ (2,157)	$ 0
Used Trailers | Commercial Trailer Products
Product Information [Line Items]
Total net sales	5,397	1,956	13,588	21,788
Used Trailers | Diversified Products
Product Information [Line Items]
Total net sales	921	908	3,412	3,345
Used Trailers | Retail
Product Information [Line Items]
Total net sales	3,785	4,164	10,650	12,970
Components, parts and service
Product Information [Line Items]
Total net sales	$ 45,631	$ 40,981	$ 130,647	$ 134,517
Percentage of consolidated net sales	8.60%	8.30%	8.80%	10.10%
Components, parts and service | Intersegment Eliminations [Member]
Product Information [Line Items]
Total net sales	$ (3,172)	$ (3,623)	$ (9,391)	$ (10,809)
Components, parts and service | Commercial Trailer Products
Product Information [Line Items]
Total net sales	1,658	954	4,629	2,404
Components, parts and service | Diversified Products
Product Information [Line Items]
Total net sales	25,289	24,220	72,047	81,360
Components, parts and service | Retail
Product Information [Line Items]
Total net sales	21,856	19,430	63,362	61,562
Equipment and other
Product Information [Line Items]
Total net sales	$ 34,107	$ 42,619	$ 88,437	$ 109,449
Percentage of consolidated net sales	6.40%	8.70%	6.00%	8.20%
Equipment and other | Intersegment Eliminations [Member]
Product Information [Line Items]
Total net sales	$ (334)	$ 102	$ (1,223)	$ (138)
Equipment and other | Commercial Trailer Products
Product Information [Line Items]
Total net sales	3,978	4,625	10,511	11,112
Equipment and other | Diversified Products
Product Information [Line Items]
Total net sales	29,649	37,021	77,077	95,904
Equipment and other | Retail
Product Information [Line Items]
Total net sales	$ 814	$ 871	$ 2,072	$ 2,571