Wabash National (WNC) 10-Q 24 Apr 17 2017 Q1 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	3 Months Ended
	Mar. 31, 2017	Apr. 20, 2017
Document Information [Line Items]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Mar. 31, 2017
Document Fiscal Year Focus	2,017
Document Fiscal Period Focus	Q1
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		60,145,443

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Mar. 31, 2017	Dec. 31, 2016
CURRENT ASSETS
Cash and cash equivalents	$ 211,215	$ 163,467
Accounts receivable	117,281	153,634
Inventories	190,220	139,953
Prepaid expenses and other	17,981	24,351
Total current assets	536,697	481,405
PROPERTY, PLANT AND EQUIPMENT	132,658	134,138
DEFERRED INCOME TAXES	20,343	20,343
GOODWILL	148,333	148,367
INTANGIBLE ASSETS	89,927	94,405
OTHER ASSETS	21,325	20,075
Total Assets	949,283	898,733
CURRENT LIABILITIES
Current portion of long-term debt	49,584	2,468
Current portion of capital lease obligations	424	494
Accounts payable	109,912	71,338
Other accrued liabilities	95,182	92,314
Total current liabilities	255,102	166,614
LONG-TERM DEBT	186,407	233,465
CAPITAL LEASE OBLIGATIONS	1,308	1,409
DEFERRED INCOME TAXES	486	499
OTHER NONCURRENT LIABILITIES	25,132	24,355
COMMITMENTS AND CONTINGENCIES
STOCKHOLDERS' EQUITY
Common stock 200,000,000 shares authorized, $0.01 par value, 60,302,236 and 60,129,631 shares outstanding, respectively	736	725
Additional paid-in capital	649,242	640,883
Retained Earnings	19,824	3,591
Accumulated other comprehensive income	(2,369)	(2,847)
Treasury stock at cost, 13,368,199 and 12,474,109 common shares, respectively	(186,585)	(169,961)
Total stockholders' equity	480,848	472,391
Total Liabilities and Equity	$ 949,283	$ 898,733

CONDENSED CONSOLIDATED BALANCE3

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Mar. 31, 2017	Dec. 31, 2016
Common stock, shares authorized	200,000,000	200,000,000
Common stock, par value	$ 0.01	$ 0.01
Common stock, shares outstanding	60,302,236	60,129,631
Treasury stock, shares	13,368,199	12,474,109

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
NET SALES	$ 362,716	$ 447,676
COST OF SALES	303,360	368,150
Gross profit	59,356	79,526
GENERAL AND ADMINISTRATIVE EXPENSES	18,418	19,392
SELLING EXPENSES	6,173	6,961
AMORTIZATION OF INTANGIBLES	4,501	4,988
Income from operations	30,264	48,185
OTHER INCOME (EXPENSE):
Interest expense	(2,990)	(4,095)
Other, net	1,333	(398)
Income before income taxes	28,607	43,692
INCOME TAX EXPENSE	8,434	16,168
Net income	$ 20,173	$ 27,524
DIVIDENDS DECLARED PER SHARE	$ 0.06	$ 0
BASIC NET INCOME PER SHARE	0.34	0.42
DILUTED NET INCOME PER SHARE	$ 0.32	$ 0.42

CONDENSED CONSOLIDATED STATEME5

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
NET INCOME	$ 20,173	$ 27,524
Other comprehensive income (loss):
Foreign currency translation adjustment	478	(97)
Total other comprehensive income (loss)	478	(97)
COMPREHENSIVE INCOME	$ 20,651	$ 27,427

CONDENSED CONSOLIDATED STATEME6

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Cash flows from operating activities
Net income	$ 20,173	$ 27,524
Adjustments to reconcile net income to net cash provided by operating activities
Depreciation	4,202	4,176
Amortization of intangibles	4,501	4,988
Net gain on the sale of assets	(2,456)	0
Deferred income taxes	(13)	7,595
Excess tax benefits from stock-based compensation	0	(1,090)
Loss on debt extinguishment	640	487
Stock-based compensation	2,963	2,470
Non-cash interest expense	520	948
Changes in operating assets and liabilities
Accounts receivable	36,353	(6,619)
Inventories	(51,692)	(41,227)
Prepaid expenses and other	5,214	(3,763)
Accounts payable and accrued liabilities	41,395	46,316
Other, net	428	1,099
Net cash provided by operating activities	62,228	42,904
Cash flows from investing activities
Capital expenditures	(3,173)	(2,976)
Proceeds from the sale of property, plant, and equipment	3,761	0
Other, net	1,218	0
Net cash provided by (used in) investing activities	1,806	(2,976)
Cash flows from financing activities
Proceeds from exercise of stock options	5,408	192
Excess tax benefits from stock-based compensation	0	1,090
Dividends paid	(3,893)	0
Borrowings under revolving credit facilities	152	175
Payments under revolving credit facilities	(152)	(175)
Principal payments under capital lease obligations	(171)	(225)
Proceeds from issuance of term loan credit facility	189,470	0
Principal payments under term loan credit facility	(189,944)	(482)
Principal payments under industrial revenue bond	(177)	(127)
Debt issuance costs paid	(354)	0
Stock repurchase	(16,625)	(8,757)
Convertible senior notes repurchase	0	(42,061)
Net cash used in financing activities	(16,286)	(50,370)
Net increase (decrease) in cash and cash equivalents	47,748	(10,442)
Cash and cash equivalents at beginning of period	163,467	178,853
Cash and cash equivalents at end of period	$ 211,215	$ 168,411

BASIS OF PRESENTATION

BASIS OF PRESENTATION	3 Months Ended
	Mar. 31, 2017
Organization, Consolidation and Presentation of Financial Statements [Abstract]
BASIS OF PRESENTATION	1. BASIS OF PRESENTATION 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 Annual Report on Form 10-K for the year ended December 31, 2016.

INVENTORIES

INVENTORIES	3 Months Ended
	Mar. 31, 2017
Inventory Disclosure [Abstract]
INVENTORIES	2. INVENTORIES Inventories are stated at the lower of cost, determined either on the first-in, first-out or average cost method, or market. The cost of manufactured inventory includes raw materials, labor and overhead. Inventories consist of the following (in thousands): March 31, December 31, 2017 2016 Finished goods $ 97,486 $ 57,297 Raw materials and components 60,269 53,388 Work in progress 20,929 18,422 Aftermarket parts 7,898 8,356 Used trailers 3,638 2,490 $ 190,220 $ 139,953

DEBT

DEBT	3 Months Ended
	Mar. 31, 2017
Debt Disclosure [Abstract]
DEBT	3. DEBT March 31, December 31, 2017 2016 Convertible senior notes $ 48,951 $ 48,951 Term loan credit agreement 188,996 189,470 Other debt 499 676 $ 238,446 $ 239,097 Less: unamortized discount and fees (2,455) (3,164) Less: current portion (49,584) (2,468) $ 186,407 $ 233,465 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 20 30 130 1,000 98 November 1, 2017 As of March 31, 2017, the Company determined that the Notes would be convertible during the calendar quarter ending June 30, 2017 based on the criteria in (A) above and, as a result, the Notes were classified as current within the Condensed Consolidated Balance Sheet. If the Notes outstanding at March 31, 2017 had been converted as of March 31, 2017, the if-converted value would exceed the principal amount by approximately $ 38 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 requires 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 7.0 123.8 150.0 21.7 145.5 During 2016 the Company executed multiple agreements with existing holders of the Notes to repurchase $ 82.0 98.9 19.0 22.9 0.5 Other, net The Company applies the treasury stock method in calculating the dilutive impact of the Notes. For the quarter ended March 31, 2017, the Notes had a dilutive impact. March 31, December 31, 2017 2016 Principal amount of the Notes outstanding $ 48,951 $ 48,951 Unamortized discount and fees of liability component (1,789) (2,183) Net carrying amount of liability component 47,162 46,768 Less: current portion (47,162) - Long-term debt $ - $ 46,768 Carrying value of equity component, net of issuance costs $ (3,971) $ (3,971) Remaining amortization period of discount on the liability component 1.1 years 1.3 years Interest Expense Three Months Ended March 31, 2017 2016 Contractual coupon interest expense $ 413 $ 908 Accretion of discount and fees on the liability component $ 394 $ 808 Revolving Credit Agreement In June 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 and provides for, among other things, a five year, $ 175 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 1.1 1.0 12.5 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 (as defined below), customary permitted liens and certain other permitted liens) (A) equity interests of each direct subsidiary held by the Borrower and each Revolver 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 Revolver 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 March 31, 2017 the Company had no outstanding borrowings under the Credit Agreement and was in compliance with all covenants. The Company’s liquidity position, defined as cash on hand and available borrowing capacity on the Credit Facility, amounted to $ 378.9 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 No. 1”), which became effective on May 9, 2013. As of the Amendment No. 1 date, there was $ 297.0 20.0 277.0 In March 2015, the Company entered into Amendment No. 2 to Credit Agreement (“Amendment No. 2”). As of the Amendment No. 2 date, there was $ 192.8 192.8 91 in full, liquidity of at least $ 125 0.25 Amendment No. 2 also amended 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) $ 75 189.5 0.25 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. For the three months ended March 31, 2017 and 2016, under the Term Loan Credit Agreement the Company paid interest of $ 2.0 2.1 0.5 Other, net 189.0 1.9 For each three month period ended March 31, 2017 and 2016, the Company incurred charges of less than $ 0.1 Interest Expense

FAIR VALUE MEASUREMENTS

FAIR VALUE MEASUREMENTS	3 Months Ended
	Mar. 31, 2017
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, $ 2.4 10.9 Estimated Fair Value of Debt The estimated fair value of debt at March 31, 2017 consists primarily of the Notes and borrowings under the Term Loan Credit Agreement (see Note 3). The fair value of the Notes, the Term Loan Credit Agreement and the Credit Facility are based upon third party pricing sources, which generally do not represent daily market activity or represent data obtained from an exchange, and are classified as Level 2. The interest rates on the Company’s borrowings under the 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. March 31, 2017 December 31, 2016 Carrying Fair Value Carrying Fair Value Value Level 1 Level 2 Level 3 Value Level 1 Level 2 Level 3 Instrument Convertible senior notes $ 47,162 $ - $ 88,685 $ - $ 46,768 $ - $ 69,721 $ - Term loan credit agreement 188,374 - 189,941 - 188,540 - 189,470 - Other debt 482 - - 482 653 - - 653 Capital lease obligations 1,705 - - 1,705 1,875 - - 1,875 $ 237,723 $ - $ 278,626 $ 2,187 $ 237,836 $ - $ 259,191 $ 2,528

STOCK-BASED COMPENSATION

STOCK-BASED COMPENSATION	3 Months Ended
	Mar. 31, 2017
Share-Based Compensation [Abstract]
STOCK-BASED COMPENSATION	STOCK-BASED COMPENSATION The Company recognizes all share-based payments based upon their fair value. The Company values stock option awards using 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 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 $ 21.1

CONTINGENCIES

CONTINGENCIES	3 Months Ended
	Mar. 31, 2017
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 March 31, 2017, 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 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 was approximately R$ 26.7 8.5 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 was stayed by agreement of the parties while the U.S. Patent and Trademark Office (“Patent Office”) undertook a reexamination of U.S. Patent No. 6,986,546. In June 2010, the Patent Office notified the Company that the reexamination was completed and the Patent Office 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 may do so. 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 believes that the resolution of this lawsuit will not 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”), one of the companies acquired in the Walker acquisition, 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 in 2017, following the conclusion of a final audit process that commenced 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 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	3 Months Ended
	Mar. 31, 2017
Earnings Per Share [Abstract]
Earnings Per Share	7. NET INCOME PER SHARE Per share results have been calculated based on the average number of common shares outstanding. Three Months Ended March 31, 2017 2016 Basic net income per share: Net income applicable to common stockholders $ 20,173 $ 27,524 Weighted average common shares outstanding 60,143 65,037 Basic net income per share $ 0.34 $ 0.42 Diluted net income per share: Net income applicable to common stockholders $ 20,173 $ 27,524 Weighted average common shares outstanding 60,143 65,037 Dilutive shares from assumed conversion of convertible senior notes 1,683 - Dilutive stock options and restricted stock 1,564 1,187 Diluted weighted average common shares outstanding 63,390 66,224 Diluted net income per share $ 0.32 $ 0.42 Average diluted shares outstanding for the three month period ended March 31, 2016 excludes options to purchase 748 11.70

INCOME TAXES

INCOME TAXES	3 Months Ended
	Mar. 31, 2017
Income Tax Disclosure [Abstract]
INCOME TAXES	8. INCOME TAXES The Company recognized income tax expense of $ 8.4 16.2 29.5 37.0 35

OTHER ACCRUED LIABILITIES

OTHER ACCRUED LIABILITIES	3 Months Ended
	Mar. 31, 2017
Payables and Accruals [Abstract]
OTHER ACCRUED LIABILITIES	9. OTHER ACCRUED LIABILITIES Other Accrued Liabilities March 31, December 31, 2017 2016 Customer deposits $ 24,921 $ 19,302 Warranty 19,796 20,520 Payroll and related taxes 18,336 26,793 Accrued taxes 12,119 6,400 Self-insurance 9,489 8,387 All other 10,521 10,912 $ 95,182 $ 92,314 Other Accrued Liabilities March 31, March 31, 2017 2016 Balance as of January 1 $ 20,520 $ 19,709 Provision for warranties issued in current year 1,179 1,640 (Recovery of) Provision for pre-existing warranties (224) 1,682 Payments (1,679) (1,441) Balance as of March 31 $ 19,796 $ 21,590 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 ®

SEGMENTS

SEGMENTS	3 Months Ended
	Mar. 31, 2017
Segment Reporting [Abstract]
SEGMENTS	10. SEGMENTS a. Segment Reporting During the second quarter of 2016, the Company realigned its reporting segments into two segments: Commercial Trailer Products and Diversified Products. As a result of the realignment, the businesses previously operating within the former retail segment are now reported under one of these two segments. The Commercial Trailer Products segment manufactures standard and customized van and platform trailers, truck bodies and other transportation related equipment to customers who purchase directly from the Company, through independent dealers or Company owned branch locations through which the Company offers additional service and support. The Diversified Products segment, comprised of four strategic business units including, Tank Trailer, Aviation & Truck Equipment, Process Systems and Composites, 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 ® Financial performance for each of the Company’s reporting segments below has been restated to reflect the realignment. The Company has not allocated certain corporate related administrative costs, interest and income taxes included in the corporate and eliminations segment to the Company’s other reportable segments. The Company accounts for intersegment sales and transfers at cost plus a specified mark-up. Commercial Diversified Corporate and Three Months Ended March 31, Trailer Products Products Eliminations Consolidated 2017 Net Sales External Customers $ 274,750 $ 87,966 $ - $ 362,716 Intersegment Sales 39 1,944 (1,983) - Total Net Sales $ 274,789 $ 89,910 $ (1,983) $ 362,716 Income (Loss) from operations $ 33,392 $ 4,604 $ (7,732) $ 30,264 Assets $ 323,001 $ 375,338 $ 250,944 $ 949,283 2016 Net Sales External Customers $ 364,031 $ 83,645 $ - $ 447,676 Intersegment Sales 9 2,644 (2,653) - Total Net Sales $ 364,040 $ 86,289 $ (2,653) $ 447,676 Income (Loss) from operations $ 50,257 $ 6,990 $ (9,062) $ 48,185 Assets $ 386,598 $ 396,092 $ 192,980 $ 975,670 b. Product Information Commercial Diversified Corporate and Trailer Products Products Eliminations Consolidated Three Months Ended March 31, $ $ $ $ % 2017 New Trailers 257,190 30,695 - 287,885 79.4 Used Trailers 887 1,219 - 2,106 0.6 Components, parts and service 12,743 33,675 (1,983) 44,435 12.3 Equipment and other 3,969 24,321 - 28,290 7.7 Total net sales 274,789 89,910 (1,983) 362,716 100.0 2016 New Trailers 342,033 29,776 - 371,809 83.1 Used Trailers 3,852 901 - 4,753 1.1 Components, parts and service 14,203 27,388 (2,653) 38,938 8.7 Equipment and other 3,952 28,224 - 32,176 7.1 Total net sales 364,040 86,289 (2,653) 447,676 100.0

NEW ACCOUNTING PRONOUNCEMENTS

NEW ACCOUNTING PRONOUNCEMENTS	3 Months Ended
	Mar. 31, 2017
New Accounting Pronouncements and Changes in Accounting Principles [Abstract]
NEW ACCOUNTING PRONOUNCEMENTS	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 In February 2016, the FASB issued ASU 2016-02, Leases (Topic 842) In November 2016, the FASB issued ASU No. 2016-18, Statement of Cash Flows (Topic 230), Restricted Cash,

INVENTORIES (Tables)

INVENTORIES (Tables)	3 Months Ended
	Mar. 31, 2017
Inventory Disclosure [Abstract]
Inventories	Inventories are stated at the lower of cost, determined either on the first-in, first-out or average cost method, or market. The cost of manufactured inventory includes raw materials, labor and overhead. Inventories consist of the following (in thousands): March 31, December 31, 2017 2016 Finished goods $ 97,486 $ 57,297 Raw materials and components 60,269 53,388 Work in progress 20,929 18,422 Aftermarket parts 7,898 8,356 Used trailers 3,638 2,490 $ 190,220 $ 139,953

DEBT (Tables)

DEBT (Tables)	3 Months Ended
	Mar. 31, 2017
Debt Disclosure [Abstract]
Long-Term Debt	Long-term debt consists of the following (in thousands): March 31, December 31, 2017 2016 Convertible senior notes $ 48,951 $ 48,951 Term loan credit agreement 188,996 189,470 Other debt 499 676 $ 238,446 $ 239,097 Less: unamortized discount and fees (2,455) (3,164) Less: current portion (49,584) (2,468) $ 186,407 $ 233,465
Maturities of Long-Term Debt	The following table summarizes information about the equity and liability components of the Notes (dollars in thousands). March 31, December 31, 2017 2016 Principal amount of the Notes outstanding $ 48,951 $ 48,951 Unamortized discount and fees of liability component (1,789) (2,183) Net carrying amount of liability component 47,162 46,768 Less: current portion (47,162) - Long-term debt $ - $ 46,768 Carrying value of equity component, net of issuance costs $ (3,971) $ (3,971) Remaining amortization period of discount on the liability component 1.1 years 1.3 years
Contractual Coupon Interest Expense and Accretion Of Discount On Liability	Contractual coupon interest expense and accretion of discount and fees on the liability component for the Notes for the three month period ended March 31, 2017 and 2016 included in Interest Expense Three Months Ended March 31, 2017 2016 Contractual coupon interest expense $ 413 $ 908 Accretion of discount and fees on the liability component $ 394 $ 808

FAIR VALUE MEASUREMENTS (Tables

FAIR VALUE MEASUREMENTS (Tables)	3 Months Ended
	Mar. 31, 2017
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 March 31, 2017 and December 31, 2016 were as follows: March 31, 2017 December 31, 2016 Carrying Fair Value Carrying Fair Value Value Level 1 Level 2 Level 3 Value Level 1 Level 2 Level 3 Instrument Convertible senior notes $ 47,162 $ - $ 88,685 $ - $ 46,768 $ - $ 69,721 $ - Term loan credit agreement 188,374 - 189,941 - 188,540 - 189,470 - Other debt 482 - - 482 653 - - 653 Capital lease obligations 1,705 - - 1,705 1,875 - - 1,875 $ 237,723 $ - $ 278,626 $ 2,187 $ 237,836 $ - $ 259,191 $ 2,528

NET INCOME PER SHARE (Tables)

NET INCOME PER SHARE (Tables)	3 Months Ended
	Mar. 31, 2017
Earnings Per Share [Abstract]
Schedule of Earnings Per Share, Basic and Diluted	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 March 31, 2017 2016 Basic net income per share: Net income applicable to common stockholders $ 20,173 $ 27,524 Weighted average common shares outstanding 60,143 65,037 Basic net income per share $ 0.34 $ 0.42 Diluted net income per share: Net income applicable to common stockholders $ 20,173 $ 27,524 Weighted average common shares outstanding 60,143 65,037 Dilutive shares from assumed conversion of convertible senior notes 1,683 - Dilutive stock options and restricted stock 1,564 1,187 Diluted weighted average common shares outstanding 63,390 66,224 Diluted net income per share $ 0.32 $ 0.42

OTHER ACCRUED LIABILITIES (Tabl

OTHER ACCRUED LIABILITIES (Tables)	3 Months Ended
	Mar. 31, 2017
Payables and Accruals [Abstract]
Other Accrued Liabilities	The following table presents major components of Other Accrued Liabilities March 31, December 31, 2017 2016 Customer deposits $ 24,921 $ 19,302 Warranty 19,796 20,520 Payroll and related taxes 18,336 26,793 Accrued taxes 12,119 6,400 Self-insurance 9,489 8,387 All other 10,521 10,912 $ 95,182 $ 92,314
Changes in product warranty accrual	The following table presents the changes in the product warranty accrual included in Other Accrued Liabilities March 31, March 31, 2017 2016 Balance as of January 1 $ 20,520 $ 19,709 Provision for warranties issued in current year 1,179 1,640 (Recovery of) Provision for pre-existing warranties (224) 1,682 Payments (1,679) (1,441) Balance as of March 31 $ 19,796 $ 21,590

SEGMENTS (Tables)

SEGMENTS (Tables)	3 Months Ended
	Mar. 31, 2017
Segment Reporting [Abstract]
Reportable Segment Information	Reportable segment information is as follows (in thousands): Commercial Diversified Corporate and Three Months Ended March 31, Trailer Products Products Eliminations Consolidated 2017 Net Sales External Customers $ 274,750 $ 87,966 $ - $ 362,716 Intersegment Sales 39 1,944 (1,983) - Total Net Sales $ 274,789 $ 89,910 $ (1,983) $ 362,716 Income (Loss) from operations $ 33,392 $ 4,604 $ (7,732) $ 30,264 Assets $ 323,001 $ 375,338 $ 250,944 $ 949,283 2016 Net Sales External Customers $ 364,031 $ 83,645 $ - $ 447,676 Intersegment Sales 9 2,644 (2,653) - Total Net Sales $ 364,040 $ 86,289 $ (2,653) $ 447,676 Income (Loss) from operations $ 50,257 $ 6,990 $ (9,062) $ 48,185 Assets $ 386,598 $ 396,092 $ 192,980 $ 975,670
Major Product Categories and Percentage of Consolidated Net Sales	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 Eliminations Consolidated Three Months Ended March 31, $ $ $ $ % 2017 New Trailers 257,190 30,695 - 287,885 79.4 Used Trailers 887 1,219 - 2,106 0.6 Components, parts and service 12,743 33,675 (1,983) 44,435 12.3 Equipment and other 3,969 24,321 - 28,290 7.7 Total net sales 274,789 89,910 (1,983) 362,716 100.0 2016 New Trailers 342,033 29,776 - 371,809 83.1 Used Trailers 3,852 901 - 4,753 1.1 Components, parts and service 14,203 27,388 (2,653) 38,938 8.7 Equipment and other 3,952 28,224 - 32,176 7.1 Total net sales 364,040 86,289 (2,653) 447,676 100.0

Inventories (Detail)

Inventories (Detail) - USD ($) $ in Thousands	Mar. 31, 2017	Dec. 31, 2016
Inventory [Line Items]
Finished goods	$ 97,486	$ 57,297
Raw materials and components	60,269	53,388
Work in progress	20,929	18,422
Aftermarket parts	7,898	8,356
Used trailers	3,638	2,490
Total, Inventories	$ 190,220	$ 139,953

Debt - Additional Information (

Debt - Additional Information (Detail)	1 Months Ended					3 Months Ended
	Feb. 24, 2017USD ($)	Jun. 30, 2015USD ($)	Mar. 31, 2015USD ($)	Apr. 30, 2013USD ($)	Apr. 30, 2012USD ($)	Mar. 31, 2017USD ($)$ / shares	Mar. 31, 2016USD ($)	Dec. 31, 2016USD ($)	Dec. 31, 2015USD ($)	May 31, 2012USD ($)
Debt Instrument [Line Items]
Notes issued, aggregate principal amount						$ 238,446,000		$ 239,097,000
Interest expense						2,990,000	$ 4,095,000
Line of credit facility, decrease, repayments						152,000	175,000
Gains (losses) on extinguishment of debt, total						$ (640,000)	(487,000)
Shareholders' Equity
Debt Instrument [Line Items]
Debt instrument, repurchase amount								82,000,000	$ 19,000,000
Debt instrument, repurchased face amount								98,900,000
Business combination, recognized identifiable assets acquired and liabilities assumed, current liabilities, long-term debt									$ 22,900,000
Gains (losses) on extinguishment of debt, total							500,000
Convertible Senior Notes
Debt Instrument [Line Items]
Notes issued, aggregate principal amount					$ 150,000,000
Notes issued, interest rate					3.375%
Notes issued, interest payment frequency						semi-annually
Proceeds from Notes Payable					$ 145,100,000
Convertible Senior Notes | Walker Group Holdings LLC
Debt Instrument [Line Items]
Debt Instrument Maturity Year					2,018
Unsecured Debt | Convertible Senior Notes
Debt Instrument [Line Items]
Notes issued, aggregate principal amount						$ 150,000,000
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
Notes initial conversion price | $ / shares						$ 11.70
Convertible notes, conversation date						Nov. 1, 2017
Proceeds from notes issued						$ 1,000
Estimated implied interest rate						7.00%
Fair value of liability component upon issuance						$ 123,800,000
Difference between cash proceeds before offering expenses and the estimated fair value of liability component						21,700,000
Proceeds from issuance of convertible senior notes						145,500,000
Debt Conversion, Converted Instrument, Amount						$ 38,000,000
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						$ 2,000,000	2,100,000
Long-term debt						500,000
Interest expense						100,000	$ 100,000
Revolving Credit Facility
Debt Instrument [Line Items]
Notes issued, aggregate principal amount		$ 150,000,000
Credit facility, borrowing capacity		$ 175,000,000
Credit facility, interest rate above basis		12.50%
Line of Credit Facility, Remaining Borrowing Capacity						$ 378,900,000
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 2017 to June 2020
Revolving Credit Facility | LIBOR
Debt Instrument [Line Items]
Debt Instrument, Description of Variable Rate Basis						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
Revolving Credit Facility | Senior Secured Credit Facility
Debt Instrument [Line Items]
Notes issued, aggregate principal amount		$ 175,000,000				$ 75,000,000
Term Loan Credit Facility
Debt Instrument [Line Items]
Notes issued, aggregate principal amount						$ 188,996,000		$ 189,470,000
Line of credit facility potential term extension period			91 days
Term Loan Credit Facility | LIBOR
Debt Instrument [Line Items]
Debt Instrument, Maturity Date, Description						LIBOR (subject to a floor of 0%) plus a margin of 2.75% or (ii) a base rate (subject to a floor of 0%) plus a margin of 1.75%.
Term Loan Credit Facility | Incremental Senior Credit Facility
Debt Instrument [Line Items]
Senior Secured Leverage Ratio						3.0 to 1.0
Term Loan Credit Facility | 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 Facility | Tranche B One Loan [Member]
Debt Instrument [Line Items]
Notes issued, aggregate principal amount			$ 192,800,000
Term Loan Credit Facility | Tranche B Two Loan [Member]
Debt Instrument [Line Items]
Notes issued, aggregate principal amount			$ 192,800,000
Term Loan Credit Agreement
Debt Instrument [Line Items]
Percentage of tranche loan amount on equal quarterly installments	0.25%		0.25%
Line of Credit Facility, Amount Outstanding						$ 189,000,000
Debt Instrument, Periodic Payment, Principal						$ 1,900,000
Term Loan Credit Agreement | Senior Secured Credit Facility
Debt Instrument [Line Items]
Line of Credit Facility, Amount Outstanding										$ 300,000,000
Term Loan Credit Agreement | Tranche B Two Loan [Member]
Debt Instrument [Line Items]
Notes issued, aggregate principal amount	$ 189,500,000
Minimum
Debt Instrument [Line Items]
Debt Conversion, Converted Instrument, Amount			$ 125,000,000
Minimum | Unsecured Debt | Convertible Senior Notes | Scenario 1
Debt Instrument [Line Items]
Number of trading days						20 days
Minimum | Revolving Credit Facility | Amended and Restated Credit Agreement
Debt Instrument [Line Items]
Fixed Charge Coverage Ratio Minimum		150				1
Maximum | Revolving Credit Facility | Amended and Restated Credit Agreement
Debt Instrument [Line Items]
Fixed Charge Coverage Ratio Minimum		1.1

Components of Long Term Debt (D

Components of Long Term Debt (Detail) - USD ($) $ in Thousands	Mar. 31, 2017	Dec. 31, 2016
Debt Instrument [Line Items]
Principal amount of convertible notes outstanding	$ 238,446	$ 239,097
Less: unamortized discount and fees	(2,455)	(3,164)
Less: current portion	(49,584)	(2,468)
LONG-TERM DEBT	186,407	233,465
Other debt
Debt Instrument [Line Items]
Principal amount of convertible notes outstanding	499	676
Term loan credit agreement
Debt Instrument [Line Items]
Principal amount of convertible notes outstanding	188,996	189,470
Convertible Senior Notes
Debt Instrument [Line Items]
Principal amount of convertible notes outstanding	$ 48,951	$ 48,951

Equity and Liability Components

Equity and Liability Components of Notes (Detail) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2017	Dec. 31, 2016
Debt Instrument [Line Items]
Principal amount of the Notes outstanding	$ 238,446	$ 239,097
Unamortized discount and fees of liability component	(2,455)	(3,164)
Less: current portion	(49,584)	(2,468)
Long-term debt	186,407	233,465
Convertible Senior Notes
Debt Instrument [Line Items]
Principal amount of the Notes outstanding	48,951	48,951
Unamortized discount and fees of liability component	(1,789)	(2,183)
Net carrying amount of liability component	47,162	46,768
Less: current portion	(47,162)	0
Long-term debt	0	46,768
Carrying value of equity component, net of issuance costs	$ (3,971)	$ (3,971)
Remaining amortization period of discount on the liability component	1 year 1 month 6 days	1 year 3 months 18 days

Contractual Coupon Interest Exp

Contractual Coupon Interest Expense (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Debt Instrument [Line Items]
Contractual coupon interest expense	$ 413	$ 908
Accretion of discount and fees on the liability component	$ 394	$ 808

Fair Value Measurements - Addit

Fair Value Measurements - Additional Information (Detail) $ in Millions	Mar. 31, 2017USD ($)
Fair Value, Inputs, Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets, fair value disclosure, recurring	$ 2.4
Fair Value, Inputs, Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets, fair value disclosure, recurring	$ 10.9

Financial Assets and Liabilitie

Financial Assets and Liabilities Accounted For at Fair Value on Recurring Basis (Detail) - USD ($) $ in Thousands	Mar. 31, 2017	Dec. 31, 2016
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt and Capital Lease Obligations	$ 237,723	$ 237,836
Other debt
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt and Capital Lease Obligations	482	653
Convertible senior notes
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt and Capital Lease Obligations	47,162	46,768
Term loan credit agreement
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt and Capital Lease Obligations	188,374	188,540
Capital lease obligations
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt and Capital Lease Obligations	1,705	1,875
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 | Other debt
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt and Capital Lease Obligations	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 | 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	278,626	259,191
Fair Value, Inputs, Level 2 | Other debt
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt and Capital Lease Obligations	0	0
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	88,685	69,721
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	189,941	189,470
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	2,187	2,528
Fair Value, Inputs, Level 3 | Other debt
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt and Capital Lease Obligations	482	653
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 | Capital lease obligations
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt Instrument, Fair Value Disclosure	$ 1,705	$ 1,875

Stock-Based Compensation - Addi

Stock-Based Compensation - Additional Information (Detail) $ in Millions	Mar. 31, 2017USD ($)
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	$ 21.1

Contingencies - Additional Info

Contingencies - Additional Information (Detail) BRL in Millions, $ in Millions	1 Months Ended		3 Months Ended
	Nov. 22, 2011USD ($)	Nov. 22, 2011BRL	Mar. 31, 2017BRL	May 31, 2012USD ($)
Loss Contingencies [Line Items]
Damages asserted by BK | BRL			BRL 20.8
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 | $	$ 8.5
Court-Imposed Interest, Fees or Inflation Adjustments | Maximum
Loss Contingencies [Line Items]
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
	Mar. 31, 2016	Mar. 31, 2017
Earnings Per Share Disclosure [Line Items]
Average diluted shares outstanding	748
Convertible Debt [Member]
Earnings Per Share Disclosure [Line Items]
Debt Instrument, Convertible, Conversion Price		$ 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
	Mar. 31, 2017	Mar. 31, 2016
Basic net income per share:
Net income applicable to common stockholders	$ 20,173	$ 27,524
Weighted average common shares outstanding	60,143	65,037
Basic net income per share	$ 0.34	$ 0.42
Diluted net income per share:
Net income applicable to common stockholders	$ 20,173	$ 27,524
Weighted average common shares outstanding	60,143	65,037
Dilutive shares from assumed conversion of convertible senior notes	1,683	0
Dilutive stock options and restricted stock	1,564	1,187
Diluted weighted average common shares outstanding	63,390	66,224
Diluted net income per share	$ 0.32	$ 0.42

Income Taxes - Additional Infor

Income Taxes - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Investments, Owned, Federal Income Tax Note [Line Items]
Effective income tax rate reconciliation at federal statutory income tax rate	29.50%	37.00%
Income Tax Expense (Benefit)	$ 8,434	$ 16,168
U.S. Federal
Investments, Owned, Federal Income Tax Note [Line Items]
Effective income tax rate reconciliation at federal statutory income tax rate	35.00%

Major Components of Other Accru

Major Components of Other Accrued Liabilities (Detail) - USD ($) $ in Thousands	Mar. 31, 2017	Dec. 31, 2016	Mar. 31, 2016	Dec. 31, 2015
Accrued Liabilities [Line Items]
Customer deposits	$ 24,921	$ 19,302
Warranty	19,796	20,520	$ 21,590	$ 19,709
Payroll and related taxes	18,336	26,793
Accrued Taxes	12,119	6,400
Self-Insurance	9,489	8,387
All Other	10,521	10,912
Other accrued liabilities	$ 95,182	$ 92,314

Product Warranty Accrual Includ

Product Warranty Accrual Included in Other Accrued Liabilities (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Other Accrued Liabilities [Line Items]
Balance as of January 1	$ 20,520	$ 19,709
Provision for warranties issued in current year	1,179	1,640
(Recovery of) Provision for pre-existing warranties	(224)	1,682
Payments	(1,679)	(1,441)
Balance as of March 31	$ 19,796	$ 21,590

Segments - Additional Informati

Segments - Additional Information (Detail)	3 Months Ended
	Mar. 31, 2017
Segment Reporting Information [Line Items]
Number of reportable segments	2

Reportable Segment Information

Reportable Segment Information (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016	Dec. 31, 2016
Net Sales
Total Net Sales	$ 362,716	$ 447,676
Income (Loss) from operations	30,264	48,185
Assets	949,283	975,670	$ 898,733
External Customers
Net Sales
Total Net Sales	362,716	447,676
Intersegment Sales
Net Sales
Total Net Sales	0	0
Commercial Trailer Products
Net Sales
Total Net Sales	274,789	364,040
Income (Loss) from operations	33,392	50,257
Assets	323,001	386,598
Commercial Trailer Products | External Customers
Net Sales
Total Net Sales	274,750	364,031
Commercial Trailer Products | Intersegment Sales
Net Sales
Total Net Sales	39	9
Diversified Products
Net Sales
Total Net Sales	89,910	86,289
Income (Loss) from operations	4,604	6,990
Assets	375,338	396,092
Diversified Products | External Customers
Net Sales
Total Net Sales	87,966	83,645
Diversified Products | Intersegment Sales
Net Sales
Total Net Sales	1,944	2,644
Corporate and Eliminations
Net Sales
Total Net Sales	(1,983)	(2,653)
Income (Loss) from operations	(7,732)	(9,062)
Assets	250,944	192,980
Corporate and Eliminations | External Customers
Net Sales
Total Net Sales	0	0
Corporate and Eliminations | Intersegment Sales
Net Sales
Total Net Sales	$ (1,983)	$ (2,653)

Major Product Categories and Pe

Major Product Categories and Percentage of Consolidated Net Sales (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Product Information [Line Items]
Total Net Sales	$ 362,716	$ 447,676
Sales Revenue, Net
Product Information [Line Items]
Percentage of consolidated net sales	100.00%	100.00%
Corporate and Eliminations
Product Information [Line Items]
Total Net Sales	$ (1,983)	$ (2,653)
Commercial Trailer Products
Product Information [Line Items]
Total Net Sales	274,789	364,040
Diversified Products
Product Information [Line Items]
Total Net Sales	89,910	86,289
New Trailers
Product Information [Line Items]
Total Net Sales	$ 287,885	$ 371,809
New Trailers | Sales Revenue, Net
Product Information [Line Items]
Percentage of consolidated net sales	79.40%	83.10%
New Trailers | Corporate and Eliminations
Product Information [Line Items]
Total Net Sales	$ 0	$ 0
New Trailers | Commercial Trailer Products
Product Information [Line Items]
Total Net Sales	257,190	342,033
New Trailers | Diversified Products
Product Information [Line Items]
Total Net Sales	30,695	29,776
Used Trailers
Product Information [Line Items]
Total Net Sales	$ 2,106	$ 4,753
Used Trailers | Sales Revenue, Net
Product Information [Line Items]
Percentage of consolidated net sales	0.60%	1.10%
Used Trailers | Corporate and Eliminations
Product Information [Line Items]
Total Net Sales	$ 0	$ 0
Used Trailers | Commercial Trailer Products
Product Information [Line Items]
Total Net Sales	887	3,852
Used Trailers | Diversified Products
Product Information [Line Items]
Total Net Sales	1,219	901
Components, parts and service
Product Information [Line Items]
Total Net Sales	$ 44,435	$ 38,938
Components, parts and service | Sales Revenue, Net
Product Information [Line Items]
Percentage of consolidated net sales	12.30%	8.70%
Components, parts and service | Corporate and Eliminations
Product Information [Line Items]
Total Net Sales	$ (1,983)	$ (2,653)
Components, parts and service | Commercial Trailer Products
Product Information [Line Items]
Total Net Sales	12,743	14,203
Components, parts and service | Diversified Products
Product Information [Line Items]
Total Net Sales	33,675	27,388
Equipment and other
Product Information [Line Items]
Total Net Sales	$ 28,290	$ 32,176
Equipment and other | Sales Revenue, Net
Product Information [Line Items]
Percentage of consolidated net sales	7.70%	7.10%
Equipment and other | Corporate and Eliminations
Product Information [Line Items]
Total Net Sales	$ 0	$ 0
Equipment and other | Commercial Trailer Products
Product Information [Line Items]
Total Net Sales	3,969	3,952
Equipment and other | Diversified Products
Product Information [Line Items]
Total Net Sales	$ 24,321	$ 28,224