Document and Entity Information - shares	9 Months Ended
Document and Entity Information - shares	Sep. 30, 2020	Oct. 27, 2020
Document and Entity Information [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Current Fiscal Year End Date	--12-31
Document Period End Date	Sep. 30, 2020
Document Fiscal Year Focus	2020
Document Transition Report	false
Entity File Number	000-51237
Entity Registrant Name	FREIGHTCAR AMERICA, INC.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	25-1837219
Entity Address, Address Line One	125 South Wacker Drive
Entity Address, Address Line Two	Suite 1500
Entity Address, City or Town	Chicago
Entity Address, State or Province	IL
Entity Address, Postal Zip Code	60606
City Area Code	800
Local Phone Number	458-2235
Title of 12(b) Security	Common stock, par value $0.01 per share
Trading Symbol	RAIL
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		15,534,829
Amendment Flag	false
Document Fiscal Period Focus	Q3
Entity Central Index Key	0001320854

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Current assets
Cash, cash equivalents and restricted cash equivalents	$ 32,757	$ 66,257
Restricted certificates of deposit	182	3,769
Accounts receivable, net of allowance for doubtful accounts of $1,063 and $91, respectively	10,293	6,991
Inventories, net	60,186	25,092
Assets held for sale	10,383
Income tax receivable	109	535
Other current assets	4,737	7,035
Total current assets	118,647	109,679
Property, plant and equipment, net	19,443	38,564
Railcars available for lease, net	38,139	38,900
Right of use asset	34,059	56,507
Other long-term assets	817	1,552
Total assets	211,105	245,202
Current liabilities
Accounts and contractual payables	20,606	11,713
Accrued payroll and other employee costs	4,258	1,389
Reserve for workers’ compensation	3,475	3,210
Accrued warranty	7,508	8,388
Customer deposits	29,775	5,123
Deferred income state and local incentives, current	2,219	2,219
Lease liability, current	15,102	14,960
Current portion of long-term debt	15,825
Other current liabilities	4,750	2,428
Total current liabilities	103,518	49,430
Long-term debt, net of current portion	4,375	10,200
Accrued pension costs	5,754	6,510
Deferred income state and local incentives, long-term	3,058	4,722
Lease liability, long-term	44,548	53,766
Other long-term liabilities	3,446	3,420
Total liabilities	164,699	128,048
Stockholders' equity
Preferred stock, $0.01 par value, 2,500,000 shares authorized (100,000 shares each designated as Series A voting and Series B non-voting, 0 shares issued and outstanding at September 30, 2020 and December 31, 2019)
Common stock, $0.01 par value, 50,000,000 shares authorized, 13,604,172 and 12,731,678 shares issued at September 30, 2020 and December 31, 2019, respectively	136	127
Additional paid in capital	83,657	83,027
Treasury stock, at cost, 326,327 and 44,855 shares at September 30, 2020 and December 31, 2019, respectively	(1,341)	(989)
Accumulated other comprehensive loss	(10,359)	(10,780)
(Accumulated deficit) Retained earnings	(24,236)	45,824
Total FreightCar America stockholders' equity	47,857	117,209
Noncontrolling interest in JV	(1,451)	(55)
Total stockholders’ equity	46,406	117,154
Total liabilities and stockholders’ equity	$ 211,105	$ 245,202

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Allowance for doubtful accounts	$ 1,063	$ 91
Preferred stock, par value	$ 0.01	$ 0.01
Preferred stock, shares authorized	2,500,000	2,500,000
Common stock, par value	$ 0.01	$ 0.01
Common stock, shares authorized	50,000,000	50,000,000
Common stock, shares issued	13,604,172	12,731,678
Treasury stock, shares at cost	326,327	44,855
Series A Preferred Stock [Member]
Preferred stock, shares authorized	100,000	100,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Series B Preferred Stock [Member]
Preferred stock, shares authorized	100,000	100,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0

Condensed Consolidated Statements of Operations - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Condensed Consolidated Statements of Operations [Abstract]
Revenues	$ 25,202	$ 40,651	$ 47,857	$ 185,020
Cost of sales	29,281	46,061	66,883	191,255
Gross loss	(4,079)	(5,410)	(19,026)	(6,235)
Selling, general and administrative expenses	7,158	7,772	21,105	30,791
Loss on sale of railcars available for lease		42		5,238
Restructuring and impairment charges	30,103	23,032	31,250	24,351
Operating loss	(41,340)	(36,256)	(71,381)	(66,615)
Interest expense and deferred financing costs	(208)	(223)	(671)	(374)
Other income	160	363	518	765
Loss before income taxes	(41,388)	(36,116)	(71,534)	(66,224)
Income tax benefit	(75)	(387)	(78)	(576)
Net loss	(41,313)	(35,729)	(71,456)	(65,648)
Less: Net loss attributable to noncontrolling interest in JV	(991)		(1,396)
Net loss attributable to FreightCar America	$ (40,322)	$ (35,729)	$ (70,060)	$ (65,648)
Net loss per common share attributable to FreightCar America- basic and diluted	$ (3.03)	$ (2.83)	$ (5.30)	$ (5.20)
Weighted average common shares outstanding – basic and diluted	12,426,872	12,359,478	12,399,687	12,349,670

Condensed Consolidated Statements of Comprehensive Loss - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Condensed Consolidated Statements of Comprehensive Loss [Abstract]
Net loss	$ (41,313)	$ (35,729)	$ (71,456)	$ (65,648)
Other comprehensive income net of tax:
Pension and postretirement liability adjustments, net of tax	140	44	421	131
Other comprehensive income	140	44	421	131
Comprehensive loss	$ (41,173)	$ (35,685)	$ (71,035)	$ (65,517)

Condensed Consolidated Statements of Stockholders’ Equity - USD ($) $ in Thousands	Common Stock [Member]	Additional Paid In Capital [Member]	Treasury Stock [Member]	Accumulated Other Comprehensive Loss [Member]	Retained Earnings [Member]	Noncontrolling Interest [Member]	Total
Cumulative effective of adoption of ASC 842					$ 208		$ 208
Balance at Dec. 31, 2018	$ 127	$ 90,593	$ (9,721)	$ (8,188)	120,799		193,610
Balance (Shares) at Dec. 31, 2018	12,731,678		272,030
Net loss					(65,648)		(65,648)
Other comprehensive income				131			131
Restricted stock awards		(9,171)	$ 9,171
Restricted stock awards, shares			293,309
Employee stock settlement			$ (59)				(59)
Employee stock settlement, shares			(7,404)
Forfeiture of restricted stock awards		374	$ (374)
Forfeiture of restricted stock awards, shares			(56,980)
Stock-based compensation recognized		754					754
Balance at Sep. 30, 2019	$ 127	82,550	$ (983)	(8,057)	55,359		128,996
Balance (Shares) at Sep. 30, 2019	12,731,678		43,105
Balance at Jun. 30, 2019	$ 127	83,435	$ (2,348)	(8,101)	91,088		164,201
Balance (Shares) at Jun. 30, 2019	12,731,678		102,951
Net loss					(35,729)		(35,729)
Other comprehensive income				44			44
Restricted stock awards		(1,365)	$ 1,365
Restricted stock awards, shares			59,846
Stock-based compensation recognized		480					480
Balance at Sep. 30, 2019	$ 127	82,550	$ (983)	(8,057)	55,359		128,996
Balance (Shares) at Sep. 30, 2019	12,731,678		43,105
Balance at Dec. 31, 2019	$ 127	83,027	$ (989)	(10,780)	45,824	$ (55)	117,154
Balance (Shares) at Dec. 31, 2019	12,731,678		44,855
Net loss					(70,060)	(1,396)	(71,456)
Other comprehensive income				421			421
Restricted stock awards	$ 9	(9)
Restricted stock awards, shares	872,494
Employee stock settlement			$ (9)				(9)
Employee stock settlement, shares			(5,717)
Forfeiture of restricted stock awards		343	$ (343)
Forfeiture of restricted stock awards, shares			(275,755)
Stock-based compensation recognized		296					296
Balance at Sep. 30, 2020	$ 136	83,657	$ (1,341)	(10,359)	(24,236)	(1,451)	46,406
Balance (Shares) at Sep. 30, 2020	13,604,172		326,327
Balance at Jun. 30, 2020	$ 136	83,318	$ (1,281)	(10,499)	16,086	(460)	87,300
Balance (Shares) at Jun. 30, 2020	13,604,172		285,011
Net loss					(40,322)	(991)	(41,313)
Other comprehensive income				140			140
Forfeiture of restricted stock awards		60	$ (60)
Forfeiture of restricted stock awards, shares			(41,316)
Stock-based compensation recognized		279					279
Balance at Sep. 30, 2020	$ 136	$ 83,657	$ (1,341)	$ (10,359)	$ (24,236)	$ (1,451)	$ 46,406
Balance (Shares) at Sep. 30, 2020	13,604,172		326,327

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019
Cash flows from operating activities
Net loss	$ (71,456)	$ (65,648)
Adjustments to reconcile net loss to net cash flows used in operating activities:
Non-cash restructuring and impairment charges	26,868	24,351
Depreciation and amortization	7,954	9,487
Change in inventory reserve	6,206	(1,501)
Amortization expense - right-of-use leased assets	4,910	8,168
Recognition of deferred income from state and local incentives	(1,665)	(1,665)
Loss on sale of railcars available for lease		5,131
Stock-based compensation recognized	296	754
Other non-cash items, net	277	(209)
Changes in operating assets and liabilities, net of acquisitions:
Accounts receivable	(3,302)	9,483
Inventories	(41,300)	10,407
Other assets	2,340	(1,706)
Accounts and contractual payables	9,062	(11,206)
Accrued payroll and employee benefits	3,011	1,254
Income taxes receivable/payable	909	(289)
Accrued warranty	(880)	(1,643)
Lease liability	(9,110)	(13,210)
Customer deposits	24,652	(1,719)
Other liabilities	2,489	4,625
Accrued pension costs and accrued postretirement benefits	(242)	(417)
Net cash flows used in operating activities	(38,981)	(25,553)
Cash flows from investing activities
Purchase of restricted certificates of deposit	(4,037)	(1,416)
Maturity of restricted certificates of deposit	7,624	5,862
Purchase of securities held to maturity		(1,986)
Proceeds from maturity of securities		20,025
Purchase of property, plant and equipment	(8,267)	(3,292)
Proceeds from sale of property, plant and equipment and railcars available for lease	170	11,519
Net cash flows (used in) provided by investing activities	(4,510)	30,712
Cash flows from financing activities
Proceeds from issuance of long-term debt	10,000	10,200
Employee stock settlement	(9)	(59)
Deferred financing costs		(929)
Net cash flows provided by financing activities	9,991	9,212
Net (decrease) increase in cash and cash equivalents	(33,500)	14,371
Cash, cash equivalents and restricted cash equivalents at beginning of period	66,257	45,070
Cash, cash equivalents and restricted cash equivalents at end of period	32,757	59,441
Supplemental cash flow information
Interest paid	280	153
Income tax refunds received	482
Income tax paid	$ 1	$ 58

Description of the Business

9 Months Ended

Sep. 30, 2020

Description of the Business [Abstract]

Description of the Business

Note 1 – Description of the Business

FreightCar America, Inc. (“FreightCar”) operates primarily in North America through its direct and indirect subsidiaries, FreightCar North America, LLC (f/k/a FCAI Holdings, LLC), (“FreightCar North America”) JAC Operations, Inc., Johnstown America, LLC, Freight Car Services, Inc., JAIX Leasing Company (“JAIX”), FreightCar America Leasing, LLC, FreightCar America Leasing 1, LLC, FreightCar Roanoke, LLC, FreightCar Mauritius Ltd. (“Mauritius”), FreightCar Rail Services, LLC (“FCRS”), FreightCar Short Line, Inc. (“FCSL”), FreightCar Alabama, LLC FreightCar (Shanghai) Trading Co., Ltd, FCA-FASEMEX, LLC, FCA-FASEMEX, S. de R.L. de C.V. and FCA-FASEMEX Enterprise, S. de R.L. de C.V. (herein collectively referred to as the “Company”), and manufactures a wide range of railroad freight cars, supplies railcar parts and leases freight cars. The Company designs and builds high-quality railcars, including coal cars, bulk commodity cars, covered hopper cars, intermodal and non-intermodal flat cars, mill gondola cars, coil steel cars and boxcars, and also specializes in the conversion of railcars for re-purposed use. The Company is headquartered in Chicago, Illinois and has facilities in the following locations: Cherokee, Alabama; Johnstown, Pennsylvania; Shanghai, People’s Republic of China, and in Castaños, Mexico.

As of September 30, 2020, the Company’s direct and indirect subsidiaries are wholly owned except for the Fasemex entities related to our Mexico operations. The Company and its direct and indirect subsidiaries are all Delaware corporations or Delaware limited liability companies except Mauritius, which is incorporated in Mauritius, FreightCar (Shanghai) Trading Co., Ltd., which is organized in the People’s Republic of China, and FCA-FASEMEX, S. de R.L., de C.V. and FCA-FASEMEX Enterprise, S. de R.L. de C.V. which are organized in Mexico.

During 2019, the Company entered into a joint venture arrangement with Fabricaciones y Servicios de México, S.A. de C.V. (“Fasemex”), a Mexican company with operations in both Mexico and the United States to manufacture railcars in Castaños, Mexico, in exchange for a 50% interest in the operation. Production of railcars at the facility began during the third quarter of 2020. On October 16, 2020, the Company acquired Fasemex’s 50% ownership in the joint venture. The Company plans to conduct all of its production at the Castaños facility by February 2021. See Note 17 –Subsequent Events.

The Company ceased operations at its Roanoke, Virginia manufacturing facility and vacated the facility as of March 31, 2020.

On September 10, 2020, the Company announced its plan to permanently close its manufacturing facility in Cherokee, Alabama (the “Shoals Facility”) in light of the ongoing cyclical industry downturn, which has been magnified by the COVID-19 pandemic. The closure will reduce costs and align the Company’s manufacturing capacity with the current rail car market. The Company intends to cease production at the Shoals facility by the end of 2020 or during the first quarter of 2021, with full closure to be completed by the end of the first quarter of 2021. See Note 16–Restructuring and Impairment Charges.

Basis of Presentation

9 Months Ended

Sep. 30, 2020

Basis of Presentation [Abstract]

Basis of Presentation

Note 2 – Basis of Presentation

The accompanying condensed consolidated financial statements include the accounts of FreightCar America, Inc. and subsidiaries. All intercompany accounts and transactions have been eliminated in consolidation. Under the terms of the joint venture operating agreement for the Fasemex entities related to its Mexico operations, the Company had the right to appoint the majority of the members of the board and management for the joint venture. The Company therefore, determined that it had the power to direct the activities of the related entities that most significantly impact their economic performance and it also had the right to receive significant benefits and obligation to absorb losses from the operations, and as such, the Company determined that it was the primary beneficiary of these variable interest entities (“VIEs”). Therefore, these entities are consolidated as VIEs. The total assets of the Mexico operations amount to $5.5 million and the total liabilities of the Mexico operations amount to $0.4 million as of September 30, 2020. The net loss of the Mexico operations for the three and nine months ended September 30, 2020 is $2.0 million and $2.8 million, respectively. The noncontrolling minority interest as of September 30, 2020 and net loss attributable to the noncontrolling minority interest for the nine months ended September 30, 2020 amounted to $(1.5) million and $(1.4) million, respectively.

The foregoing financial information has been prepared in accordance with the accounting principles generally accepted in the United States of America (“GAAP”) and rules and regulations of the U.S. Securities and Exchange Commission (the “SEC”) for interim financial reporting. The preparation of the financial statements in accordance with GAAP requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. Actual results could differ from these estimates. The results of operations for the three and nine months ended September 30, 2020 are not necessarily indicative of the results to be expected for the full year. The accompanying interim financial information is unaudited; however, the Company believes the financial information reflects all adjustments (consisting of items of a normal recurring nature) necessary for a fair presentation of financial position, results of operations and cash flows in conformity with GAAP. The 2019 year-end balance sheet data was derived

from the audited financial statements as of December 31, 2019. Certain information and note disclosures normally included in the Company’s annual financial statements prepared in accordance with GAAP have been condensed or omitted. These interim financial statements should be read in conjunction with the audited financial statements contained in the Company’s annual report on Form 10-K for the year ended December 31, 2019.

Recent Accounting Pronouncements

9 Months Ended

Sep. 30, 2020

Recent Accounting Pronouncements [Abstract]

Recent Accounting Pronouncements

Note 3 – Recent Accounting Pronouncements

In August 2020, the Financial Accounting Standards Board (the “FASB”) issued Accounting Standards Update (“ASU”) 2020-06, Debt – Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging – Contracts in Entity’s Own Equity (Subtopic 815-40). This ASU simplifies the accounting for convertible debt instruments by removing certain accounting separation models as well as the accounting for debt instruments with embedded conversion features that are not required to be accounted for as derivative instruments. The ASU also updates and improves the consistency of earnings per share calculations for convertible instruments. The amendments in this ASU are effective for fiscal years beginning after December 15, 2021, including interim periods within those fiscal years. The Company is currently assessing the impact of this standard on its consolidated financial statements and related disclosures.

In March 2020, the FASB issued ASU 2020-04, Reference Rate Reform, which provides companies with optional guidance, including expedients and exceptions for applying generally accepted accounting principles to contracts and other transactions affected by reference rate reform, such as the London Interbank Offered Rate (LIBOR). This new standard was effective upon issuance and generally can be applied to applicable contract modifications through December 31, 2022. Adoption of this standard did not have a material impact on the Company’s consolidated financial statements.

In August 2018, the FASB ASU 2018-15, Intangibles – Goodwill and Other – Internal-Use Software, which requires capitalization of certain implementation costs incurred in a cloud computing arrangement that is a service contract. ASU 2018-15 is effective for fiscal years beginning after December 15, 2019, and interim periods within those fiscal years. Adoption of this standard on January 1, 2020 did not have a material impact on the Company’s consolidated financial statements.

In August 2018, the FASB issued ASU 2018-14, Compensation – Retirement Benefits – Defined Benefit Plans – General, which modifies the disclosure requirements for defined benefit and other postretirement plans. ASU 2018-14 eliminates certain disclosures related to accumulated other comprehensive income, plan assets, related parties and the effects of interest rate basis point changes on assumed health care costs, and adds disclosures to address significant gains and losses related to changes in benefit obligations. ASU 2018-14 also clarifies disclosure requirements for projected benefit and accumulated benefit obligations. ASU 2018-14 is effective for fiscal years ending after December 15, 2020. Early adoption is permitted. Adoption on a retrospective basis for all periods presented is required. The Company is currently assessing the impact of this standard on its consolidated financial statements and related disclosures.

Leases

9 Months Ended

Sep. 30, 2020

Leases [Abstract]

Leases

Note 4 – Leases

The Company determines if an arrangement is a lease at inception of a contract. Substantially all of the Company’s leases are operating leases. A significant portion of the Company’s operating lease portfolio includes manufacturing sites, component warehouses and corporate offices. The remaining lease terms on the majority of the Company’s leases is between 2.5 to 8 years, some of which include options to extend the lease terms. Leases with an initial term of 12 months or less are not recorded on the condensed consolidated balance sheet. Operating lease right of use (“ROU”) assets are presented within long term assets, the current portion of operating lease liabilities is presented within current liabilities and the non-current portion of operating lease liabilities are presented within long term liabilities on the condensed consolidated balance sheet.

ROU assets represent the Company’s right to use an underlying asset during the lease term and the lease liabilities represent the Company’s obligation to make the lease payments arising during the lease. ROU assets and liabilities are recognized at commencement date based on the net present value of fixed lease payments over the lease term. The Company’s lease term includes options to extend or terminate the lease when it is reasonably certain that the Company will exercise that option. As most of the Company’s operating leases do not provide an implicit rate, the Company uses its incremental borrowing rate based on the information available at commencement date in determining the present value of lease payments. Operating lease expense is recognized on a straight-line basis over the lease term.

The components of the lease costs were as follows:


		Three Months Ended ‎September 30, 2020		Nine Months Ended ‎September 30, 2020
Operating lease costs:
Fixed	$	2,515	$	8,412
Short-term		210		581
Total lease cost	$	2,725	$	8,993


Supplemental balance sheet information related to leases were as follows:
		September 30, 2020
Operating leases:
Right of use assets	$	34,059

Lease liabilities:
Lease liability, current	$	15,102
Lease liability, long-term		44,548
Total operating lease liabilities	$	59,650


Supplemental cash flow information is as follows:
		Nine Months Ended September 30, 2020
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	13,371
Total	$	13,371

Right of use assets obtained in exchange for new lease obligations:
Operating leases	$	1,326
Total	$	1,326


The aggregate future lease payments for operating leases as of September 30, 2020 are as follows
		Operating leases
2020 (Excluding the nine months ended September 30, 2020)	$	4,366
2021		17,387
2022		10,205
2023		9,074
2024		8,332
Thereafter		18,040
Total lease payments		67,404
Less: interest		(7,754)
Total	$	59,650


The aggregate future lease payments for operating leases as of December 31, 2019 were as follows
		Operating leases
2020	$	17,743
2021		17,200
2022		9,969
2023		8,832
2024		8,082
Thereafter		16,164
Total lease payments		77,990
Less: interest		(9,263)
Total	$	68,727


Weighted-average remaining lease term (years)
Operating leases		6.9
Weighted-average discount rate
Operating leases		4.5%

On February 26, 2019, the Company entered into an Amendment to its lease of the Shoals facility to extend the initial term thereof from December 31, 2021 to December 31, 2026, with two five-year extension terms thereafter through December 31, 2031 and December 31, 2036, at the Company’s option. The amendment permitted the Company to vacate up to 40% of the manufacturing facility on or before December 31, 2021 with the base rent payable to the Landlord reduced on proportional basis. The Company accounted for the amendment as a modification of the lease, resulting in a non-cash increase to lease liability and right of use asset of $32,079 during the first quarter of 2019. The Company concluded that the initial term through December 31, 2026 would be included in the measurement of lease liabilities as of the modification date. The Company has concluded that the options for extensions beyond that date are not reasonably certain of exercise, and have been excluded from the measurement of lease liabilities.

On September 10, 2020, the Company announced its plan to permanently close its Shoals facility in light of the ongoing cyclical industry downturn, which has been magnified by the COVID-19 pandemic. The closure will reduce costs and align the Company’s manufacturing capacity with the current rail car market. The Company intends to cease production at the Shoals facility by the end of 2020 or during the first quarter of 2021, with full closure to be completed by the end of the first quarter of 2021. See Note 16 –Restructuring and Impairment Charges. On October 8, 2020, the Company completed an amendment to its lease of the Shoals facility to accelerate the expiration date of the lease from December 31, 2026 to February 28, 2021, with a single one-month extension of the new February 28, 2021 expiration date at the option of the Company. The amendment will be accounted for as a lease modification during the fourth quarter of 2020. See Note 17 – Subsequent Events.

During 2019, the Company entered into a lease agreement of new office space for which the Company took possession on February 1, 2020. The new lease arrangement requires total minimum lease payments of approximately $3,000 over 11.5 years.

Revenue Recognition

9 Months Ended

Sep. 30, 2020

Revenue Recognition [Abstract]

Revenue Recognition

Note 5 – Revenue Recognition

The following table disaggregates the Company’s revenues by major source:



		Three months ended			Nine months ended
		September 30,			September 30,
		2020		2019		2020		2019

Railcar sales	$	21,400	$	36,343	$	36,672	$	171,460
Parts sales		2,567		2,733		7,077		8,592
Other sales		-		12		1		42
Revenues from contracts with customers		23,967		39,088		43,750		180,094
Leasing revenues		1,235		1,563		4,107		4,926
Total revenues	$	25,202	$	40,651	$	47,857	$	185,020

Contract Balances and Accounts Receivable

Accounts receivable payments for railcar sales are typically due within 5 to 10 business days of invoicing, while payments from parts sales are typically due within 30 to 45 business days of invoicing. The Company has not experienced significant historical credit losses. However, the Company’s allowance for doubtful accounts as of September 30, 2020 reflects an increase of $972 compared to December 31, 2019, primarily due to a customer in its leasing portfolio.

Contract assets represent the Company’s rights to consideration for performance obligations that have been satisfied but for which the terms of the contract do not permit billing at the reporting date. The Company has no contract assets as of September 30, 2020. The Company may receive cash payments from customers in advance of the Company satisfying performance obligations under its sales contracts resulting in deferred revenue or customer deposits, which are considered contract liabilities. Deferred revenue and customer deposits are classified as either current or long-term in the Consolidated Balance Sheet based on the timing of when the Company expects to recognize the related revenue. Deferred revenue and customer deposits included in customer deposits, other current liabilities and other long-term liabilities in the Company’s Condensed Consolidated Balance Sheet were $32,076 and $5,607 as of September 30, 2020 and December 31, 2019, respectively.

Performance Obligations

The Company is electing not to disclose the value of the remaining unsatisfied performance obligation with a duration of one year or less as permitted by ASU 2014-09, Revenue from Contracts with Customers. The Company had remaining unsatisfied performance obligations as of September 30, 2020 with expected duration of greater than one year of $61,379.

Segment Information

9 Months Ended

Sep. 30, 2020

Segment Information [Abstract]

Segment Information

Note 6 – Segment Information

The Company’s operations comprise two operating segments, Manufacturing and Parts, and one reportable segment, Manufacturing. The Company’s Manufacturing segment includes new railcar manufacturing, used railcar sales, railcar leasing and major railcar conversions and rebuilds. The Company’s Parts operating segment is not significant for reporting purposes and has been combined with corporate and other non-operating activities as Corporate and Other.

Segment operating income is an internal performance measure used by the Company’s Chief Operating Decision Maker to assess the performance of each segment in a given period. Segment operating income includes all external revenues attributable to the segments as well as operating costs and income that management believes are directly attributable to the current production of goods and services. The Company’s internal management reporting package does not include interest revenue, interest expense or income taxes allocated to individual segments and these items are not considered as a component of segment operating income. Segment assets represent operating assets and exclude intersegment accounts, deferred tax assets and income tax receivables. The Company does not allocate cash and cash equivalents and restricted cash and restricted cash equivalents to its operating segments as the Company’s treasury function is managed at the corporate level. Intersegment revenues were not material in any period presented.


	Three Months Ended				Nine Months Ended
	September 30,				September 30,
	2020		2019		2020		2019
Revenues:
Manufacturing	$	22,589	$	37,868	$	40,658	$	176,280
Corporate and Other		2,613		2,783		7,199		8,740
Consolidated revenues	$	25,202	$	40,651	$	47,857	$	185,020

Operating (loss) income:
Manufacturing (1)	$	(36,786)	$	(30,788)	$	(56,934)	$	(43,444)
Corporate and Other		(4,554)		(5,468)		(14,447)		(23,171)
Consolidated operating loss		(41,340)		(36,256)		(71,381)		(66,615)
Consolidated interest expense and deferred financing costs		(208)		(223)		(671)		(374)
Consolidated other income		160		363		518		765
Consolidated loss before income taxes	$	(41,388)	$	(36,116)	$	(71,534)	$	(66,224)

Depreciation and amortization:
Manufacturing	$	1,915	$	2,819	$	7,398	$	8,922
Corporate and Other		155		191		556		565
Consolidated depreciation and amortization	$	2,070	$	3,010	$	7,954	$	9,487

Capital expenditures:
Manufacturing	$	1,180	$	1,052	$	7,132	$	2,485
Corporate and Other		78		205		1,135		807
Consolidated capital expenditures	$	1,258	$	1,257	$	8,267	$	3,292

(1) Results for the three and nine months ended September 30, 2020 include restructuring and impairment charges of $30,103 and $31,250 respectively. Results for the three and nine months ended September 30, 2019 include restructuring and impairment charges of $23,032 and $24,351, respectively.


	September 30,		December 31,
	2020		2019
Assets:
Manufacturing	$	163,940	$	156,859
Corporate and Other		47,059		87,329
Total operating assets		210,999		244,188
Consolidated income taxes receivable		109		1,014
Consolidated deferred income taxes, long-term		(3)		-
Consolidated assets	$	211,105	$	245,202

‎



Geographic Information

		Revenues								Long Lived Assets(a)
		Three Months Ended				Nine Months Ended
		September 30,				September 30,				September 30,		December 31,
		2020		2019		2020		2019		2020		2019
United States	$	25,202	$	40,651	$	47,857	$	185,020	$	85,720	$	132,825
Mexico (b)		-		-		-		-		5,921		1,146
Total	$	25,202	$	40,651	$	47,857	$	185,020	$	91,641	$	133,971

(a) Long lived assets include net property plant and equipment, Railcars available for lease, and ROU Assets
(b) Included in manufacturing segment

Fair Value Measurements

9 Months Ended

Sep. 30, 2020

Fair Value Measurements [Abstract]

Fair Value Measurements

Note 7 – Fair Value Measurements

The following table sets forth by level within the fair value hierarchy the Company’s financial assets that were recorded at fair value on a recurring basis and the Company’s non-financial assets that were recorded at fair value on a non-recurring basis.



Recurring Fair Value Measurements		As of September 30, 2020
		Level 1		Level 2		Level 3		Total
ASSETS:
Cash equivalents and restricted cash equivalents	$	7,992	$	-	$	-	$	7,992
Restricted certificates of deposit	$	182	$	-	$	-	$	182


Non-recurring Fair Value Measurements		As of September 30, 2020
		Level 1		Level 2		Level 3		Total
ASSETS:
Assets held for sale	$	-	$	-	$	10,383	$	10,383
Right of use asset	$	-	$	-	$	27,697	$	27,697


Recurring Fair Value Measurements		As of December 31, 2019
		Level 1		Level 2		Level 3		Total
ASSETS:
Cash equivalents and restricted cash equivalents	$	4,580	$	-	$	-	$	4,580
Restricted certificates of deposit	$	3,769	$	-	$	-	$	3,769
Escrow receivable	$	-	$	-	$	930	$	930

The sale of the Company’s railcar repair and maintenance services business on September 30, 2015 resulted in $1,960 of the aggregate purchase price being placed into escrow in order to secure the indemnification obligations of FCRS and FCSL. The fair market value of the remaining escrow receivable as of December 31, 2019 represents the escrow balance of $980, net of the fair value of the indemnification obligations, which was estimated using the discounted probability-weighted cash flow method. The remaining escrow balance of $980 was collected by the Company in September 2020.

On September 10, 2020 the Company announced its plan to permanently close its Shoals facility. In connection with the closure, the Company estimated the fair value of the related asset group because it determined that an impairment trigger had occurred due to the shortened asset recoverability timeframe. Non-cash impairment charges of $8,978 for property, plant and equipment at the Shoals facility and $17,540 for the right of use asset were recognized during September 2020. Assets held for sale represents property, plant and equipment to be sold or transferred to the Shoals landlord as consideration for the landlord’s entry into the lease amendment as

described in Note 17 –Subsequent Events. See Note 16 –Restructuring and Impairment Charges for a description of the valuation techniques used.

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References + Details

Restricted Cash

9 Months Ended

Sep. 30, 2020

Restricted Cash [Abstract]

Restricted Cash

Note 8 – Restricted Cash

The Company establishes restricted cash balances when required by customer contracts and to collateralize standby letters of credit. The carrying value of restricted cash approximates fair value.

The Company’s restricted cash balances are as follows:


		September 30,		December 31,
		2020		2019

Restricted cash from customer deposit	$	5,683	$	-
Restricted cash to collateralize standby letters of credit		203		-
Total restricted cash	$	5,886	$	-

Inventories

9 Months Ended

Sep. 30, 2020

Inventories [Abstract]

Inventories

Note 9 – Inventories

Inventories, net of reserve for excess and obsolete items, consist of the following:



		September 30,		December 31,
		2020		2019

Work in process	$	55,457	$	19,742
Finished new railcars		-		-
Parts inventory		4,729		5,350
Total inventories, net	$	60,186	$	25,092

Inventory on the Company’s Condensed Consolidated Balance Sheets includes reserves of $11,839 and $5,633 relating to excess or slow-moving inventory and lower of cost or net realizable value for parts and work in process at September 30, 2020 and December 31, 2019, respectively. During the third quarter of 2020 the Company increased the obsolescence reserve by $5 million in connection with the planned closure of the Shoals facility.

Debt Financing and Revolving Credit Facilities

9 Months Ended

Sep. 30, 2020

Debt Financing and Revolving Credit Facilities [Abstract]

Debt Financing and Revolving Credit Facilities

Note 10 – Debt Financing and Revolving Credit Facilities

BMO Credit Agreement

On April 12, 2019, the Company entered into a Credit and Security Agreement (the “BMO Credit Agreement”) by and among the Company and certain of its subsidiaries, as borrowers and guarantors (together with the Company, the “Borrowers”), and BMO Harris Bank N.A., as lender (“BMO”). Pursuant to the BMO Credit Agreement, BMO extended an asset-based credit facility, in the maximum aggregate principal amount of up to $50,000, consisting of revolving loans and a sub-facility for letters of credit not to exceed the lesser of $10,000 and the amount of the revolving credit facility.

The BMO Credit Agreement has a term ending on April 12, 2024. Revolving loans outstanding thereunder will bear interest, at the Borrowers’ option and subject to the provisions of the BMO Credit Agreement, at Base Rate (as defined in the BMO Credit Agreement) or LIBOR Rate (as defined in the BMO Credit Agreement) plus the Applicable Margin for each such interest rate set forth in the BMO Credit Agreement.

The BMO Credit Agreement provides for a revolving credit facility with maximum availability of $42,500, subject to borrowing base requirements set forth in the BMO Credit Agreement. The maximum availability under the BMO Credit Agreement is determined by a formula and may fluctuate depending on the value of the borrowing base included in such formula at the time of determination. On February 21, 2020, the Company, certain of its subsidiaries, as borrowers and guarantors, and BMO, amended the BMO Credit Agreement, to, among other things, increase the borrowing base during the period commencing February 21, 2020 until May 15, 2020 by the lesser of (i) 100% of qualified unrestricted cash and (ii) $4,000.

The BMO Credit Agreement has both affirmative and negative covenants, including, without limitation, limitations on indebtedness, liens and investments. The BMO Credit Agreement also provides for customary events of default. Borrowings under the BMO Credit Agreement are collateralized by substantially all of the Borrowers’ assets. As of September 30, 2020, the Company had no borrowings

under the BMO credit facility. As of September 30, 2020, the Company has a $4,000 letter of credit outstanding under the letter of credit sub-facility of the BMO Credit Agreement.

On October 8, 2020, the BMO Credit Agreement was terminated and replaced by a new credit agreement. See Note 17 –Subsequent Events.

M&T Credit Agreement

On April 16, 2019, FreightCar America Leasing 1, LLC, an indirect wholly-owned subsidiary of the Company (“Freightcar Leasing Borrower”), entered into a Credit Agreement (the “M&T Credit Agreement”) with M & T Bank, N.A., as lender (“M&T”). Pursuant to the M&T Credit Agreement, M&T extended a revolving credit facility to Freightcar Leasing Borrower in an aggregate amount of up to $40,000 for the purpose of financing railcars which will be leased to third parties.

Freightcar Leasing Borrower also entered into a Security Agreement on April 16, 2019 (the “M&T Security Agreement”) pursuant to which it granted a security interest in all of its assets to M&T to secure its obligations under the M&T Credit Agreement.

On April 16, 2019, FreightCar America Leasing, LLC, a wholly-owned subsidiary of the Company and parent of Freightcar Leasing Borrower (“Freightcar Leasing Guarantor”), entered into (i) a Guaranty Agreement (the “M&T Guaranty Agreement”) pursuant to which Freightcar Leasing Guarantor guaranteed the repayment and performance of certain obligations of Freightcar Leasing Borrower and (ii) a Pledge Agreement (the “M&T Pledge Agreement”) pursuant to which Freightcar Leasing Guarantor pledged to M&T all of the equity of Freightcar Leasing Borrower held by Freightcar Leasing Guarantor.

The loans under the M&T Credit Agreement are non-recourse to the assets of the Company or its subsidiaries other than the assets of Freightcar Leasing Borrower and Freightcar Leasing Guarantor.

The M&T Credit Agreement has a term ending on April 16, 2021. Loans outstanding thereunder bear interest, accrued daily, at the Adjusted LIBOR Rate (as defined in the M&T Credit Agreement) or the Adjusted Base Rate (as defined in the M&T Credit Agreement).

The M&T Credit Agreement has both affirmative and negative covenants, including, without limitation, maintaining an Interest Coverage Ratio (as defined in the M&T Credit Agreement) of not less than 1.25:1.00, measured quarterly, and limitations on indebtedness, loans, liens and investments. The M&T Credit Agreement also provides for customary events of default. As of September 30, 2020, FreightCar Leasing Borrower had $10,200 in outstanding debt under the M&T Credit Agreement which was collateralized by leased railcars with a carrying value of $16,155. All of the outstanding debt under the M&T Credit Agreement is classified as current as of September 30, 2020. As of September 30, 2020, the interest rate on outstanding debt under the M&T Credit Agreement was 2.24% representing the 90 day LIBOR plus 2.05%.

On August 7, 2020, FreightCar America Leasing 1, LLC (the “Leasing Company”) received notice (the “Notice”) from M&T Bank that, based on an appraisal (the “Appraisal”) conducted by a third party at the request of M&T Bank with respect to the railcars in the Leasing Company’s Borrowing Base under the M&T Credit Agreement, the unpaid principal balance under the M&T Credit Agreement exceeded the availability under the M&T Credit Agreement as of the date of the Appraisal by $5,081 (the “Payment Demand Amount”). In the Notice, M&T Bank has: (a) asserted that an Event of Default under the M&T Credit Agreement has occurred because the Leasing Company did not pay the Payment Demand Amount to M&T Bank within five days of the asserted change in availability; (b) demanded payment of the amount within five days of the date of the Notice; and (c) terminated the commitment to advance additional loans under the M&T Credit Agreement. The Leasing Company does not believe that an Event of Default has occurred and is contesting M&T Bank’s assertion. The Leasing Company and M&T Bank are engaged in ongoing discussions regarding M&T Bank’s notice.

SBA Paycheck Protection Program Loan

In March 2020, Congress passed the Paycheck Protection Program (“PPP”), authorizing loans to small businesses for use in paying employees that they continue to employ throughout the COVID-19 pandemic and for rent, utilities and interest on mortgages. In June 2020, Congress enacted the Paycheck Protection Program Flexibility Act (“PPPFA”), amending the PPP.

Loans obtained through the PPP, as amended, are eligible to be forgiven as long as the proceeds are used for qualifying purposes and certain other conditions are met. On April 16, 2020, the Company received a loan in the amount of $10,000 through the Paycheck Protection Program. Since the entire loan was used for payroll, utilities and interest, management anticipates that the majority of the PPP Loan will be forgiven. To the extent it is not forgiven, the Company would be required to repay that portion at an interest rate of 1% over a period of two years, with $7,500 due in 2021 and with $2,500 due in 2022 with a final installment in April 2022. The Company filed an application for PPP Loan forgiveness on October 28, 2020 along with a request for extension of the loan term to five years.

Long-term debt consists of the following as of September 30, 2020:


Advances under M&T Credit Agreement	$	10,200
SBA Payroll Protection Program Loan		10,000
Total debt		20,200
Less amounts due within one year		(15,825)
Long-term debt, net of current portion	$	4,375

The fair value of the PPP loan approximates its carrying value as of September 30, 2020.

Accumulated Other Comprehensive Income (Loss)

9 Months Ended

Sep. 30, 2020

Accumulated Other Comprehensive Income (Loss) [Abstract]

Accumulated Other Comprehensive Income (Loss)

Note 11 – Accumulated Other Comprehensive Income (Loss)

The changes in accumulated other comprehensive income (loss) consist of the following:


		Pre-Tax		Tax		After-Tax
Three months ended September 30, 2020
Pension liability activity:
Reclassification adjustment for amortization of net loss (pre-tax other income (expense))	$	140	$	-	$	140
	$	140	$	-	$	140


		Pre-Tax		Tax		After-Tax
Three months ended September 30, 2019
Pension liability activity:
Reclassification adjustment for amortization of net loss (pre-tax other income (expense))	$	138	$	-	$	138
Postretirement liability activity:
Reclassification adjustment for amortization of net gain (pre-tax other income (expense))		(98)		-		(98)
Reclassification adjustment for amortization of prior service cost (pre-tax other income (expense))		4		-		4
	$	44	$	-	$	44


		Pre-Tax		Tax		After-Tax
Nine months ended September 30, 2020
Pension liability activity:
Actuarial gain	$	421	$	-	$	421
	$	421	$	-	$	421


		Pre-Tax		Tax		After-Tax
Nine months ended September 30, 2019
Pension liability activity:
Reclassification adjustment for amortization of net loss (pre-tax other income (expense))	$	412	$	-	$	412
Postretirement liability activity:
Reclassification adjustment for amortization of net gain (pre-tax other income (expense))		(292)		-		(292)
Reclassification adjustment for amortization of prior service cost (pre-tax other income (expense))		11		-		11
	$	131	$	-	$	131

The components of accumulated other comprehensive loss consist of the following:


		September 30,		December 31,
		2020		2019
Unrecognized pension cost, net of tax of $6,282 and $6,282, respectively	$	(10,359)	$	(10,780)
	$	(10,359)	$	(10,780)

Stock-Based Compensation

9 Months Ended

Sep. 30, 2020

Stock-Based Compensation [Abstract]

Stock-Based Compensation

Note 12 – Stock-Based Compensation

Total stock-based compensation was $485 and $480 for the three months ended September 30, 2020 and 2019, respectively and $578 and $754 for the nine months ended September 30, 2020 and 2019, respectively. As of September 30, 2020, there was $1,242 of unearned compensation expense related to restricted stock awards, which will be recognized over the remaining weighed average requisite service period of 20 months. As of September 30, 2020, there was $252 of unearned compensation related to time-vested stock options, which will be recognized over the remaining requisite service period of 15 months.

During the nine months ended September 30, 2020, the Company granted 1,139,464 cash settled stock appreciation rights to certain employees of which 305,121 were forfeited during 2020 and 834,343 remain outstanding as of September 30, 2020. Each stock appreciation right represents the right to receive a payment measured by the increase in the fair market value of one share of the Company’s stock from the date of grant of the stock appreciation right to the date of exercise of the stock appreciation right. The cash settled stock appreciation rights vest ratably over three years and have a contractual life of 10 years. Cash settled stock appreciation rights are classified as liabilities. The Company measures the fair value of cash settled stock appreciation rights using the Black-Scholes option valuation model and remeasures the fair value of the award each reporting period until the award is settled. Compensation cost for cash settled stock appreciation rights is trued up each reporting period for changes in fair value pro-rated for the portion of the requisite service period rendered. Once vested the Company immediately recognizes compensation cost for any changes in fair value of cash settled stock appreciation rights until settlement. The estimated fair value of the cash settled stock appreciation rights as of September 30, 2020 was $1,135. Stock-based compensation for cash settled stock appreciation rights was $261 and $192 for the three and nine months ended September 30, 2020.

The fair value of cash settled stock appreciation rights as of September 30, 2020 was estimated using the Black-Scholes option valuation model with the following assumptions:


				Expected	Risk Free
			Expected	Dividend	Interest	Fair Value
Grant Year	Grant Date	Expected Life	Volatility	Yield	Rate	Per Award

2020	1/24/2020	5.3 years	61.00%	0.00%	0.31%	$1.36
2020	3/9/2020	5.4 years	60.75%	0.00%	0.32%	$1.45
2020	9/14/2020	6.0 years	59.76%	0.00%	0.36%	$1.28

Employee Benefit Plans

9 Months Ended

Sep. 30, 2020

Employee Benefit Plans [Abstract]

Employee Benefit Plans

Note 13 – Employee Benefit Plans

The Company has a qualified, defined benefit pension plan that was established to provide benefits to certain employees. The plan is frozen and participants are no longer accruing benefits. Generally, contributions to the plan are not less than the minimum amounts required under the Employee Retirement Income Security Act of 1974, as amended (“ERISA”), and not more than the maximum amount that can be deducted for federal income tax purposes. The plan assets are held by an independent trustee and consist primarily of equity and fixed income securities.

The Company also provided certain postretirement health care benefits for certain of its salaried retired employees. Generally, employees became eligible for health care benefits if they retired after attaining specified age and service requirements. These benefits were subject to deductibles, co-payment provisions and other limitations. On October 15, 2019, the Company notified retirees and affected active employees that it would terminate medical benefits offered to retirees of the Company and their dependents effective January 1, 2020. The retiree benefits that were terminated include medical insurance and vison insurance that were offered under the FreightCar America, Inc. Health and Welfare Plan.

The components of net periodic benefit cost (benefit) for the three and nine months ended September 30, 2020 and 2019, are as follows:



	Three Months Ended				Nine Months Ended
	September 30,				September 30,
Pension Benefits	2020		2019		2020		2019
Interest cost	$	358	$	466	$	1,074	$	1,398
Expected return on plan assets		(609)		(555)		(1,828)		(1,665)
Amortization of unrecognized net loss		140		138		421		412
	$	(111)	$	49	$	(333)	$	145



	Three Months Ended				Nine Months Ended
	September 30,				September 30,
Postretirement Benefit Plan	2020		2019		2020		2019
Service cost	$	-	$	5	$	-	$	15
Interest cost		-		46		-		136
Amortization of prior service cost		-		4		-		11
Amortization of unrecognized net gain		-		(98)		-		(292)
	$	-	$	(43)	$	-	$	(130)

The Company made no contributions to the Company’s defined benefit pension plan for each of the three and nine months ended September 30, 2020 and 2019. The Company expects to make no contributions to its pension plan in 2020.

Due to the plan termination the Company made no postretirement benefit plan contributions during each of the three and nine months ended September 30, 2020. The Company made contributions to the Company’s postretirement benefit plan for salaried retirees of $156 and $432 for the three and nine months ended September 30, 2019, respectively.

The Company also maintains qualified defined contribution plans, which provide benefits to employees based on employee contributions and employee earnings with discretionary contributions allowed. Expenses related to these plans were $331 and $1,075 for the three and nine months ended September 30, 2019, respectively. Effective January 1, 2020, the Company suspended the employer contribution to its defined contribution plans.

Contingencies and Legal Settlements

9 Months Ended

Sep. 30, 2020

Contingencies and Legal Settlements [Abstract]

Contingencies and Legal Settlements

Note 14 – Contingencies and Legal Settlements

The Company is involved in various warranty and repair claims and, in certain cases, related pending and threatened legal proceedings with its customers in the normal course of business. In the opinion of management, the Company’s potential losses in excess of the accrued warranty and legal provisions, if any, are not expected to be material to the Company’s consolidated financial condition, results of operations or cash flows.

The Company received cash payments of $15,733 and $1,410 during 2015 and 2017, respectively, for Alabama state and local incentives related to its capital investment and employment levels at its Cherokee, Alabama (“Shoals”) facility. Under the incentive agreements a certain portion of the incentives may be repayable by the Company if targeted levels of employment are not maintained for a period of up to six years from the date of the incentive. In the event that any portion of the incentives is required to be paid back, the amount is unlikely to exceed the deferred liability balance of $5,277 as of September 30, 2020.

As part of a settlement agreement reached with one of its customers during 2019, the Company agreed to pay $7,500 to settle all claims related to a prior year’s commercial dispute. During 2019, the Company paid $3,500 of the settlement amount and the remaining $4,000 will be paid over a period of three years, or on an accelerated basis in the event both parties agree to accelerate delivery of railcars currently in the backlog.

In addition to the foregoing, the Company is involved in certain other pending and threatened legal proceedings, including commercial disputes and workers’ compensation and employee matters arising out of the conduct of its business. While the ultimate outcome of these other legal proceedings cannot be determined at this time, it is the opinion of management that the resolution of these other actions will not have a material adverse effect on the Company’s financial condition, results of operations or cash flows.

Earnings Per Share

9 Months Ended

Sep. 30, 2020

Earnings Per Share [Abstract]

Earnings Per Share

Note 15 – Earnings Per Share

Shares used in the computation of the Company’s basic and diluted earnings per common share are reconciled as follows:



	Three Months Ended ‎September 30,		Nine Months Ended ‎September 30,
	2020	2019	2020	2019

Weighted average common shares outstanding	12,426,872	12,359,478	12,399,687	12,349,670
Dilutive effect of employee stock options and nonvested share awards	-	-	-	-
Weighted average diluted common shares outstanding	12,426,872	12,359,478	12,399,687	12,349,670

Weighted average diluted common shares outstanding include the incremental shares that would be issued upon the assumed exercise of stock options and the assumed vesting of nonvested share awards, to the extent inclusion of such shares would be dilutive. For the three months ended September 30, 2020 and 2019, 1,104,263 and 661,048 of such incremental shares, respectively, were not included in the weighted average common shares outstanding calculation as they were anti-dilutive. For the nine months ended September 30, 2020 and 2019, 1,083,881 and 665,903 of such incremental shares, respectively, were not included in the weighted average common shares outstanding calculation as they were anti-dilutive.

Restructuring and Impairment Charges

9 Months Ended

Sep. 30, 2020

Restructuring and Impairment Charges [Abstract]

Restructuring and Impairment Charges

Note 16 – Restructuring and Impairment Charges

On September 10, 2020, the Company announced its plan to permanently close its Shoals facility in light of the ongoing cyclical industry downturn, which has been magnified by the COVID-19 pandemic. The closure will reduce costs and align the Company’s manufacturing capacity with the current rail car market. The Company intends to cease production at the Shoals facility by the end of 2020 or during the first quarter of 2021, with full closure to be completed by the end of the first quarter of 2021. In connection with the closure, the Company estimated the fair value of the related asset group because it determined that an impairment trigger had occurred due to the shortened asset recoverability timeframe. Non-cash restructuring and impairment charges totaling $26,518 were allocated to the asset group and recognized during September 2020. These non-cash charges for the three months ended September 30, 2020 related to the ROU Asset ($17,540) and non-cash impairment charges for property, plant and equipment at the Shoals facility ($8,978). In connection with the impairment the Company reassessed the estimated useful lives of equipment that will continue to be used by the Company (primarily in Castaños, Mexico) and are depreciating it over their useful lives in accordance with the Companies policies. As a result of the plan, the Company expects to incur pre-tax cash charges of between $8 and $10 million, which consist of employee-related costs and other cash shutdown costs. Restructuring and impairment charges for the three months ended September 30, 2020 included cash charges of $3,532 which consisted primarily of employee severance and retention charges of which $3,359 remained unpaid as of September 30, 2020.

The fair value of the ROU asset was estimated using an income valuation approach known as the “sublease” discounted cash flow (“DCF”) model in which the cash flows were based on current market-based lease pricing over the remaining term of the Shoals facility lease. The cash flows were discounted to present value using a market-derived rate of return.

The Shoals facility personal property will be abandoned in place at the facility, sold, transferred to another FCA facility (primarily Castaños, Mexico), or scrapped. The assets abandoned in place represent property, plant and equipment to be transferred to the Shoals landlord as consideration for the landlord’s entry into the lease amendment described below. The premise of fair value differs for each type of asset disposition. The fair value of the personal property assets to be abandoned in place at the Shoals facility were analyzed under a fair value in continued use (“In-Use”) premise. This premise assumes that the assets will continue to be used in the ongoing operation of the facility and therefore includes installation, other assembly, freight, engineering, electrical set-up and process piping costs that would be required to make the assets fully operational. Assets to be sold or transferred were analyzed under the In-Exchange premise of fair value. Under this premise, we considered the value of the assets assuming an orderly sale on a stand-alone basis. It is assumed the assets will be sold on an as-is, where-is basis and alternative uses for the assets from the originally designed purpose are considered. Any remaining personal property assets that will neither be abandoned in place nor sold/transferred were considered unmarketable and were valued under a scrap value premise.

For both the aforementioned In-Use and In Exchange premises, in instances where an asset was found to have no used market resale exposure, we utilized the Cost Approach. For assets in which there was an active secondary market where recent sales comparables exist, the Market Approach was utilized. In instances where market data was available but deemed too incomplete to apply a complete Market Approach, we used the market relationship data available to influence, confirm, or adjust the Cost Approach results.

As further discussed in Note 17 –Subsequent Events, on October 8, 2020, the Company reached an agreement with the Shoals facility owner and landlord, the Retirement Systems of Alabama (“RSA”), to shorten the Shoals lease term by amending the expiration date to

the end of February 2021, with a single one-month extension of the new February 28, 2021 expiration date at the option of the Company. The lease termination will result in a lease termination gain of approximately $15,000 to be recorded during the fourth quarter of 2020.

The $10,383 estimated fair value of property, plant and equipment to be sold or transferred to the Shoals landlord as consideration for the landlord’s entry into the lease amendment is reported as Assets Held for Sale on the balance sheet as of September 30, 2020. See Note 17 –Subsequent Events.

On August 1, 2019, the Company completed its annual goodwill impairment analysis and determined that the carrying value of its Manufacturing reporting unit exceeded its fair value by an amount that exceeded the Manufacturing reporting unit goodwill. As a result, the Company recorded a goodwill impairment charge equal to the total goodwill balance of the Manufacturing reporting unit of $21,521 during the three months ended September 30, 2019.

On July 22, 2019, the Company announced its intention to close its Roanoke, Virginia manufacturing facility as part of its “Back to Basics” strategy. The Company ceased operations at the facility as of November 29, 2019. The Company terminated its leases for the facility effective as of March 31, 2020. Restructuring and impairment charges related to the plant closure for the three and nine months ended September 30, 2019 primarily include non-cash impairment charges for property, plant and equipment at the Roanoke facility and employee severance and retention charges.

Restructuring and impairment charges are reported as a separate line item on the Company’s condensed consolidated statements of operations for the three and nine months ended September 30, 2020 and 2019, and are detailed below:


		Three months ended			Nine months ended
		September 30,			September 30,
		2020		2019		2020		2019
Impairment and loss on right of use asset	$	17,540	$	-	$	17,540	$	-
Impairment and loss on disposal of machinery and equipment		9,031		61		9,469		1,380
Employee severance and retention		3,381		1,318		3,378		1,318
Goodwill impairment		-		21,521		-		21,521
Other charges related to facility closure		151		132		863		132
Total restructuring and impairment costs	$	30,103	$	23,032	$	31,250	$	24,351



	Accrued as of ‎December 31, 2019		Cash Charges		Non-cash charges		Cash payments		Accrued as of September 30, 2020

Impairment and loss on right of use asset	$		$		$	17,540	$		$	-
Impairment and loss on disposal of machinery and equipment		-		-		9,469		-		-
Employee severance and retention		647		3,371		-		(659)		3,359
Other charges related to facility closure		359		798		(86)		(1,157)		-
Total restructuring and impairment costs	$	1,006	$	4,169	$	26,923	$	(1,816)	$	3,359

‎


	Accrued as of December 31, 2018		Cash Charges		Non-cash charges		Cash payments		Accrued as of September 30, 2019

Impairment charges for leasehold improvements and equipment	$	-	$	-	$	1,380	$	-	$	-
Employee severance and retention		-		1,318		-		-		1,318
Other charges related to facility closure		-		132		-		(84)		48
Goodwill impairment		-		-		21,521		-		-
Total restructuring and impairment costs	$	-	$	1,450	$	22,901	$	(84)	$	1,366

Subsequent Events

9 Months Ended

Sep. 30, 2020

Subsequent Events [Abstract]

Subsequent Events

Note 17 – Subsequent Events

Third Amendment to Industrial Facility Lease

On October 8, 2020, FreightCar America, Inc. (the “Company”) and its wholly owned subsidiary, FreightCar Alabama, LLC (“FreightCar Alabama”), entered into the Third Amendment to Industrial Facility Lease (the “Lease Amendment”) with Teachers’ Retirement System of Alabama and the Employees’ Retirement System of Alabama as landlord (collectively, the “Landlord”), in connection with the Industrial Facility Lease, dated as of September 29, 2011, which was assigned to FreightCar Alabama on February 28, 2018 and amended by that certain Second Amendment to Industrial Facility Lease by and among FreightCar Alabama, the Landlord and the Company, as Guarantor, dated as of February 26, 2019 (as previously amended and assigned, the “Original Lease”), relating to the Company’s facility in Cherokee, Alabama (the “Facility”).

The Lease Amendment was entered into in connection with the upcoming closure of the Facility. The Lease Amendment amends the Original Lease to shorten its term by amending the expiration date from December 31, 2026 to February 28, 2021, with a single one-month extension of the new February 28, 2021 expiration date at the option of FreightCar Alabama, and provides FreightCar Alabama with the option to store railcars and other rolling stock from the end of the term through June 30, 2021 at no additional rent or other costs, except that the Company would be obligated to pay one-month’s rent at the previous monthly rate if it exercises the one-month term extension option.

In addition, the Landlord has agreed in the Lease Amendment to waive the base rent payable under the Original Lease for the months of October 2020 through February 2021. As consideration for the Landlord’s entry into the Lease Amendment and the aforementioned rent waiver, the Company and FreightCar Alabama agreed to sell and transfer certain Facility-related assets to the Landlord. The lease termination will result in a lease termination gain of approximately $15,000 to be recorded during the fourth quarter of 2020.

Siena Loan and Security Agreement

On October 8, 2020, the Company entered into a Loan and Security Agreement (the “Siena Loan Agreement”) by and among the Company, as guarantor, and certain of its subsidiaries, as borrowers (together with the Company, the “Loan Parties”), and Siena Lending Group LLC, as lender (“Siena”). Pursuant to the Siena Loan Agreement, Siena provided an asset backed credit facility, in the maximum aggregate principal amount of up to $20,000, consisting of revolving loans.

The Siena Loan Agreement replaced the Company’s prior revolving credit facility under the Credit and Security Agreement dated as of April 12, 2019, among the Company and certain of its subsidiaries, as borrowers and guarantors, and BMO Harris Bank N.A., as lender, as amended from time to time, which was terminated effective October 8, 2020 and otherwise would have matured on April 12, 2024.

The Siena Loan Agreement has a term ending on October 8, 2023. Revolving loans outstanding thereunder bear interest, subject to the provisions of the Siena Loan Agreement, at the Base Rate (as defined in the Siena Loan Agreement) plus 3.00% per annum.

The Siena Loan Agreement provides for a revolving credit facility with maximum availability of $20,000, subject to borrowing base requirements set forth in the Siena Loan Agreement, which generally limit availability under the revolving credit facility to (a) 85% of the value of eligible accounts and (b) up to the lesser of (i) 50% of the lower of cost or market value of eligible inventory and (ii) 85% of the net orderly liquidation value of eligible inventory, and as reduced by reserves established by Siena from time to time in accordance with the Siena Loan Agreement.

The Siena Loan Agreement contains affirmative and negative covenants, including, without limitation, limitations on future indebtedness, liens and investments. The Siena Loan Agreement also provides for customary events of default. Pursuant to the terms and conditions set forth in the Siena Loan Agreement, each of the Loan Parties granted Siena a continuing lien upon certain assets of the Loan Parties to secure the obligations of the Loan Parties under the Siena Loan Agreement.

Equity Purchase Agreement

On October 16, 2020, FreightCar America, Inc. (the “Company”), through its wholly owned subsidiary, FreightCar North America, LLC (f/k/a FCAI Holdings, LLC) (“FreightCar North America”), entered into an equity purchase agreement (the “Equity Purchase Agreement”) with Fasemex, Inc. (the “US Seller”), Fabricaciones y Servicios de México, S.A. de C.V. (“Fasemex Mexico”) and Agben de Mexico, S.A. de C.V. (“Agben” and, together with Fasemex Mexico, the “MX Sellers”, and the MX Sellers, together with the US Seller, the “Sellers”). Pursuant to the Equity Purchase Agreement, FreightCar North America acquired from Sellers 50% of the outstanding equity interests (the “Seller Interests”) of FCA-Fasemex, LLC, a Delaware limited liability company (the “ US JV”), FCA-Fasemex, S. de R.L. de C.V., an entity organized under the laws of Mexico (“Production JV”), and FCA-Fasemex Enterprise, S. de R.L. de C.V., an entity organized under the laws of Mexico (“ Services JV,” and, collectively, with the Production JV and the US JV, the “ JV Companies”).

The JV Companies collectively represented the Company’s joint venture with the Sellers to manufacture railcars in Castaños, Mexico, which was formed in September 2019. Prior to the execution of the Equity Purchase Agreement, FreightCar North America owned a 50% interest in each of the JV Companies and, as a result of the acquisition of the Seller Interests, the JV Companies are now wholly-owned by FreightCar North America.

The consideration for the Seller Interests includes $173 in cash and the issuance of an aggregate of 2,257,234 shares of the Company’s common stock, par value $0.01 per share (the “EPA Shares”), to the Sellers. In addition, the Company and certain of its subsidiaries entered into several ancillary agreements including an investor rights agreement, a restated lease agreement and a royalty agreement.

The Equity Purchase Agreement contains certain customary representations, warranties, indemnities and covenants, including a non-competition covenant from the Sellers and their affiliates until the later of three years after closing and such time that the Sellers cease to beneficially own, in the aggregate, common stock of the Company equal to at least 5% of the issued and outstanding shares of the Company’s common stock.

Term Loan Credit Agreement

On October 13, 2020, the Company entered into a Credit Agreement (the “Term Loan Credit Agreement”) by and among the Company, as guarantor, FreightCar North America (“Borrower” and together with the Company and certain other subsidiary guarantors, collectively, the “Loan Parties”), CO Finance LVS VI LLC, as lender (the “Lender”), an affiliate of a corporate credit fund for which Pacific Investment Management Company LLC serves as investment manager, and U.S. Bank National Association, as disbursing agent and collateral agent (“Agent”). Pursuant to the Term Loan Credit Agreement, the Lender committed to the extension of a term loan credit facility in the principal amount of $40,000, consisting of a single term loan to be funded upon the satisfaction of certain conditions precedent set forth in the Term Loan Credit Agreement, including stockholder approval of the issuance of the common stock underlying the Warrant described below (the funding date of such term loan, the “Closing Date”). A special meeting of FreightCar America, Inc. stockholders to consider and vote upon a proposal to approve the issuance of the common stock underlying the Warrant is scheduled for November 24, 2020.

The Term Loan Credit Agreement contains a term ending five years following the Closing Date. The commitment of the Lender to fund the term loan will terminate if the Closing Date has not occurred by December 31, 2020. The term loan outstanding under the Term Loan Credit Agreement will bear interest, at Borrower’s option and subject to the provisions of the Term Loan Credit Agreement, at Base Rate (as defined in the Term Loan Credit Agreement) or Eurodollar Rate (as defined in the Term Loan Credit Agreement) plus the Applicable Margin for each such interest rate set forth in the Term Loan Credit Agreement.

The Term Loan Credit Agreement has both affirmative and negative covenants, including, without limitation, limitations on indebtedness, liens and investments. The Term Loan Credit Agreement also provides for customary events of default. Pursuant to the terms and conditions set forth in the Term Loan Credit Agreement and the related loan documents, each of the Loan Parties granted to Agent a continuing lien upon all of such Loan Parties’ assets to secure the obligations of the Loan Parties under the Term Loan Credit Agreement.

‎

Warrant

In connection with the entry into the Term Loan Credit Agreement, the Company will issue to an affiliate of the Lender (the “Warrantholder”) a warrant (the “Warrant”), pursuant to that certain warrant acquisition agreement, dated as of October 13, 2020 (the “Warrant Acquisition Agreement”), by and between the Company and the Lender to purchase a number of shares of the Company’s common stock, par value $0.01 per share, equal to 23% of the outstanding common stock on a fully-diluted basis at the time the Warrant is exercised (after giving effect to such issuance). The Warrant will be exercisable for a term of ten years from the date of the issuance of the Warrant. The issuance of the Warrant will occur on the Closing Date and is subject to, among other things, approval by the Company’s stockholders of the issuance of the common stock issuable upon exercise of the Warrant by the Warrantholder. A special meeting of FreightCar America, Inc. stockholders to consider and vote upon a proposal to approve the issuance of the common stock issuable upon exercise of the Warrant is scheduled for November 24, 2020. In connection with the issuance of the Warrant, the Company and the Lender entered into a registration rights agreement (the “Registration Rights Agreement”) as of the Closing Date.

‎

Basis of Presentation (Policy)

9 Months Ended

Sep. 30, 2020

Basis of Presentation [Abstract]

Basis of Presentation

The accompanying condensed consolidated financial statements include the accounts of FreightCar America, Inc. and subsidiaries. All intercompany accounts and transactions have been eliminated in consolidation. Under the terms of the joint venture operating agreement for the Fasemex entities related to its Mexico operations, the Company had the right to appoint the majority of the members of the board and management for the joint venture. The Company therefore, determined that it had the power to direct the activities of the related entities that most significantly impact their economic performance and it also had the right to receive significant benefits and obligation to absorb losses from the operations, and as such, the Company determined that it was the primary beneficiary of these variable interest entities (“VIEs”). Therefore, these entities are consolidated as VIEs. The total assets of the Mexico operations amount to $5.5 million and the total liabilities of the Mexico operations amount to $0.4 million as of September 30, 2020. The net loss of the Mexico operations for the three and nine months ended September 30, 2020 is $2.0 million and $2.8 million, respectively. The noncontrolling minority interest as of September 30, 2020 and net loss attributable to the noncontrolling minority interest for the nine months ended September 30, 2020 amounted to $(1.5) million and $(1.4) million, respectively.

The foregoing financial information has been prepared in accordance with the accounting principles generally accepted in the United States of America (“GAAP”) and rules and regulations of the U.S. Securities and Exchange Commission (the “SEC”) for interim financial reporting. The preparation of the financial statements in accordance with GAAP requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. Actual results could differ from these estimates. The results of operations for the three and nine months ended September 30, 2020 are not necessarily indicative of the results to be expected for the full year. The accompanying interim financial information is unaudited; however, the Company believes the financial information reflects all adjustments (consisting of items of a normal recurring nature) necessary for a fair presentation of financial position, results of operations and cash flows in conformity with GAAP. The 2019 year-end balance sheet data was derived

from the audited financial statements as of December 31, 2019. Certain information and note disclosures normally included in the Company’s annual financial statements prepared in accordance with GAAP have been condensed or omitted. These interim financial statements should be read in conjunction with the audited financial statements contained in the Company’s annual report on Form 10-K for the year ended December 31, 2019.

Leases (Tables)

9 Months Ended

Sep. 30, 2020

Leases [Abstract]

Components of Lease Cost


		Three Months Ended ‎September 30, 2020		Nine Months Ended ‎September 30, 2020
Operating lease costs:
Fixed	$	2,515	$	8,412
Short-term		210		581
Total lease cost	$	2,725	$	8,993

Supplemental Balance Sheet Information


Supplemental balance sheet information related to leases were as follows:
		September 30, 2020
Operating leases:
Right of use assets	$	34,059

Lease liabilities:
Lease liability, current	$	15,102
Lease liability, long-term		44,548
Total operating lease liabilities	$	59,650

Supplemental Cash Flow Information


Supplemental cash flow information is as follows:
		Nine Months Ended September 30, 2020
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	13,371
Total	$	13,371

Right of use assets obtained in exchange for new lease obligations:
Operating leases	$	1,326
Total	$	1,326

Aggregate Future Operating Lease Payments


The aggregate future lease payments for operating leases as of September 30, 2020 are as follows
		Operating leases
2020 (Excluding the nine months ended September 30, 2020)	$	4,366
2021		17,387
2022		10,205
2023		9,074
2024		8,332
Thereafter		18,040
Total lease payments		67,404
Less: interest		(7,754)
Total	$	59,650


The aggregate future lease payments for operating leases as of December 31, 2019 were as follows
		Operating leases
2020	$	17,743
2021		17,200
2022		9,969
2023		8,832
2024		8,082
Thereafter		16,164
Total lease payments		77,990
Less: interest		(9,263)
Total	$	68,727

Operating Lease Information


Weighted-average remaining lease term (years)
Operating leases		6.9
Weighted-average discount rate
Operating leases		4.5%

Revenue Recognition (Tables)

9 Months Ended

Sep. 30, 2020

Revenue Recognition [Abstract]

Schedule of Revenue Recognition



		Three months ended			Nine months ended
		September 30,			September 30,
		2020		2019		2020		2019

Railcar sales	$	21,400	$	36,343	$	36,672	$	171,460
Parts sales		2,567		2,733		7,077		8,592
Other sales		-		12		1		42
Revenues from contracts with customers		23,967		39,088		43,750		180,094
Leasing revenues		1,235		1,563		4,107		4,926
Total revenues	$	25,202	$	40,651	$	47,857	$	185,020

Segment Information (Tables)

9 Months Ended

Sep. 30, 2020

Segment Information [Abstract]

Schedule of Segment Reporting Information, by Segment


	Three Months Ended				Nine Months Ended
	September 30,				September 30,
	2020		2019		2020		2019
Revenues:
Manufacturing	$	22,589	$	37,868	$	40,658	$	176,280
Corporate and Other		2,613		2,783		7,199		8,740
Consolidated revenues	$	25,202	$	40,651	$	47,857	$	185,020

Operating (loss) income:
Manufacturing (1)	$	(36,786)	$	(30,788)	$	(56,934)	$	(43,444)
Corporate and Other		(4,554)		(5,468)		(14,447)		(23,171)
Consolidated operating loss		(41,340)		(36,256)		(71,381)		(66,615)
Consolidated interest expense and deferred financing costs		(208)		(223)		(671)		(374)
Consolidated other income		160		363		518		765
Consolidated loss before income taxes	$	(41,388)	$	(36,116)	$	(71,534)	$	(66,224)

Depreciation and amortization:
Manufacturing	$	1,915	$	2,819	$	7,398	$	8,922
Corporate and Other		155		191		556		565
Consolidated depreciation and amortization	$	2,070	$	3,010	$	7,954	$	9,487

Capital expenditures:
Manufacturing	$	1,180	$	1,052	$	7,132	$	2,485
Corporate and Other		78		205		1,135		807
Consolidated capital expenditures	$	1,258	$	1,257	$	8,267	$	3,292

(1) Results for the three and nine months ended September 30, 2020 include restructuring and impairment charges of $30,103 and $31,250 respectively. Results for the three and nine months ended September 30, 2019 include restructuring and impairment charges of $23,032 and $24,351, respectively.

Reconciliation of Assets From Segment to Consolidated


	September 30,		December 31,
	2020		2019
Assets:
Manufacturing	$	163,940	$	156,859
Corporate and Other		47,059		87,329
Total operating assets		210,999		244,188
Consolidated income taxes receivable		109		1,014
Consolidated deferred income taxes, long-term		(3)		-
Consolidated assets	$	211,105	$	245,202

Geographic Information



Geographic Information

		Revenues								Long Lived Assets(a)
		Three Months Ended				Nine Months Ended
		September 30,				September 30,				September 30,		December 31,
		2020		2019		2020		2019		2020		2019
United States	$	25,202	$	40,651	$	47,857	$	185,020	$	85,720	$	132,825
Mexico (b)		-		-		-		-		5,921		1,146
Total	$	25,202	$	40,651	$	47,857	$	185,020	$	91,641	$	133,971

(a) Long lived assets include net property plant and equipment, Railcars available for lease, and ROU Assets
(b) Included in manufacturing segment

Fair Value Measurements (Tables)

9 Months Ended

Sep. 30, 2020

Fair Value Measurements [Abstract]

Fair Value, Assets Measured on Recurring Basis



Recurring Fair Value Measurements		As of September 30, 2020
		Level 1		Level 2		Level 3		Total
ASSETS:
Cash equivalents and restricted cash equivalents	$	7,992	$	-	$	-	$	7,992
Restricted certificates of deposit	$	182	$	-	$	-	$	182


Non-recurring Fair Value Measurements		As of September 30, 2020
		Level 1		Level 2		Level 3		Total
ASSETS:
Assets held for sale	$	-	$	-	$	10,383	$	10,383
Right of use asset	$	-	$	-	$	27,697	$	27,697


Recurring Fair Value Measurements		As of December 31, 2019
		Level 1		Level 2		Level 3		Total
ASSETS:
Cash equivalents and restricted cash equivalents	$	4,580	$	-	$	-	$	4,580
Restricted certificates of deposit	$	3,769	$	-	$	-	$	3,769
Escrow receivable	$	-	$	-	$	930	$	930

Restricted Cash (Tables)

9 Months Ended

Sep. 30, 2020

Restricted Cash [Abstract]

Restricted Cash


		September 30,		December 31,
		2020		2019

Restricted cash from customer deposit	$	5,683	$	-
Restricted cash to collateralize standby letters of credit		203		-
Total restricted cash	$	5,886	$	-

Inventories (Tables)

9 Months Ended

Sep. 30, 2020

Inventories [Abstract]

Schedule of Inventory Current



		September 30,		December 31,
		2020		2019

Work in process	$	55,457	$	19,742
Finished new railcars		-		-
Parts inventory		4,729		5,350
Total inventories, net	$	60,186	$	25,092

Debt Financing and Revolving Credit Facilities (Tables)

9 Months Ended

Sep. 30, 2020

Debt Financing and Revolving Credit Facilities [Abstract]

Long-Term Debt


Advances under M&T Credit Agreement	$	10,200
SBA Payroll Protection Program Loan		10,000
Total debt		20,200
Less amounts due within one year		(15,825)
Long-term debt, net of current portion	$	4,375

- Definition

Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02.22)
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Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
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-Name Accounting Standards Codification
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-Section 45
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Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
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Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
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-Subparagraph (SX 210.4-08.(e),(f))
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-Topic 942
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-URI http://asc.fasb.org/extlink&oid=75038535&loc=d3e64711-112823

Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef
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Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef
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-URI http://asc.fasb.org/extlink&oid=109259400&loc=d3e21475-112644

+ Details

Accumulated Other Comprehensive Income (Loss) (Tables)

9 Months Ended

Sep. 30, 2020

Accumulated Other Comprehensive Income (Loss) [Abstract]

Schedule of Changes in Accumulated Other Comprehensive Income (Loss)


		Pre-Tax		Tax		After-Tax
Three months ended September 30, 2020
Pension liability activity:
Reclassification adjustment for amortization of net loss (pre-tax other income (expense))	$	140	$	-	$	140
	$	140	$	-	$	140


		Pre-Tax		Tax		After-Tax
Three months ended September 30, 2019
Pension liability activity:
Reclassification adjustment for amortization of net loss (pre-tax other income (expense))	$	138	$	-	$	138
Postretirement liability activity:
Reclassification adjustment for amortization of net gain (pre-tax other income (expense))		(98)		-		(98)
Reclassification adjustment for amortization of prior service cost (pre-tax other income (expense))		4		-		4
	$	44	$	-	$	44


		Pre-Tax		Tax		After-Tax
Nine months ended September 30, 2020
Pension liability activity:
Actuarial gain	$	421	$	-	$	421
	$	421	$	-	$	421


		Pre-Tax		Tax		After-Tax
Nine months ended September 30, 2019
Pension liability activity:
Reclassification adjustment for amortization of net loss (pre-tax other income (expense))	$	412	$	-	$	412
Postretirement liability activity:
Reclassification adjustment for amortization of net gain (pre-tax other income (expense))		(292)		-		(292)
Reclassification adjustment for amortization of prior service cost (pre-tax other income (expense))		11		-		11
	$	131	$	-	$	131

Components of Accumulated Other Comprehensive Income (Loss)


		September 30,		December 31,
		2020		2019
Unrecognized pension cost, net of tax of $6,282 and $6,282, respectively	$	(10,359)	$	(10,780)
	$	(10,359)	$	(10,780)

Stock-Based Compensation (Tables)

9 Months Ended

Sep. 30, 2020

Stock-Based Compensation [Abstract]

Valuation Assumptions


				Expected	Risk Free
			Expected	Dividend	Interest	Fair Value
Grant Year	Grant Date	Expected Life	Volatility	Yield	Rate	Per Award

2020	1/24/2020	5.3 years	61.00%	0.00%	0.31%	$1.36
2020	3/9/2020	5.4 years	60.75%	0.00%	0.32%	$1.45
2020	9/14/2020	6.0 years	59.76%	0.00%	0.36%	$1.28

Employee Benefit Plans (Tables)

9 Months Ended

Sep. 30, 2020

Pension Benefits [Member]

Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]

Components of Net Periodic Benefit Cost



	Three Months Ended				Nine Months Ended
	September 30,				September 30,
Pension Benefits	2020		2019		2020		2019
Interest cost	$	358	$	466	$	1,074	$	1,398
Expected return on plan assets		(609)		(555)		(1,828)		(1,665)
Amortization of unrecognized net loss		140		138		421		412
	$	(111)	$	49	$	(333)	$	145

Postretirement Benefit Plan [Member]

Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]

Components of Net Periodic Benefit Cost



	Three Months Ended				Nine Months Ended
	September 30,				September 30,
Postretirement Benefit Plan	2020		2019		2020		2019
Service cost	$	-	$	5	$	-	$	15
Interest cost		-		46		-		136
Amortization of prior service cost		-		4		-		11
Amortization of unrecognized net gain		-		(98)		-		(292)
	$	-	$	(43)	$	-	$	(130)

Earnings Per Share (Tables)

9 Months Ended

Sep. 30, 2020

Earnings Per Share [Abstract]

Weighted Average Common Shares Outstanding



	Three Months Ended ‎September 30,		Nine Months Ended ‎September 30,
	2020	2019	2020	2019

Weighted average common shares outstanding	12,426,872	12,359,478	12,399,687	12,349,670
Dilutive effect of employee stock options and nonvested share awards	-	-	-	-
Weighted average diluted common shares outstanding	12,426,872	12,359,478	12,399,687	12,349,670

Restructuring and Impairment Charges (Tables)

9 Months Ended

Sep. 30, 2020

Restructuring and Impairment Charges [Abstract]

Components of Restructuring and Impairment Charges


		Three months ended			Nine months ended
		September 30,			September 30,
		2020		2019		2020		2019
Impairment and loss on right of use asset	$	17,540	$	-	$	17,540	$	-
Impairment and loss on disposal of machinery and equipment		9,031		61		9,469		1,380
Employee severance and retention		3,381		1,318		3,378		1,318
Goodwill impairment		-		21,521		-		21,521
Other charges related to facility closure		151		132		863		132
Total restructuring and impairment costs	$	30,103	$	23,032	$	31,250	$	24,351

Schedule of Restructuring Reserve Activity


		Three months ended			Nine months ended
		September 30,			September 30,
		2020		2019		2020		2019
Impairment and loss on right of use asset	$	17,540	$	-	$	17,540	$	-
Impairment and loss on disposal of machinery and equipment		9,031		61		9,469		1,380
Employee severance and retention		3,381		1,318		3,378		1,318
Goodwill impairment		-		21,521		-		21,521
Other charges related to facility closure		151		132		863		132
Total restructuring and impairment costs	$	30,103	$	23,032	$	31,250	$	24,351



	Accrued as of ‎December 31, 2019		Cash Charges		Non-cash charges		Cash payments		Accrued as of September 30, 2020

Impairment and loss on right of use asset	$		$		$	17,540	$		$	-
Impairment and loss on disposal of machinery and equipment		-		-		9,469		-		-
Employee severance and retention		647		3,371		-		(659)		3,359
Other charges related to facility closure		359		798		(86)		(1,157)		-
Total restructuring and impairment costs	$	1,006	$	4,169	$	26,923	$	(1,816)	$	3,359

‎


	Accrued as of December 31, 2018		Cash Charges		Non-cash charges		Cash payments		Accrued as of September 30, 2019

Impairment charges for leasehold improvements and equipment	$	-	$	-	$	1,380	$	-	$	-
Employee severance and retention		-		1,318		-		-		1,318
Other charges related to facility closure		-		132		-		(84)		48
Goodwill impairment		-		-		21,521		-		-
Total restructuring and impairment costs	$	-	$	1,450	$	22,901	$	(84)	$	1,366

Description of the Business (Details) - Mexico Joint Venture [Member]	12 Months Ended
	Dec. 31, 2019	Oct. 16, 2020
Schedule of Equity Method Investments [Line Items]
Joint Venture Ownership Percentage	50.00%
Subsequent Event [Member]
Schedule of Equity Method Investments [Line Items]
Percent acquired		50.00%

Basis of Presentation (Details) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended
Basis of Presentation (Details) - USD ($) $ in Thousands	Sep. 30, 2020	Sep. 30, 2020	Dec. 31, 2019
Schedule of Equity Method Investments [Line Items]
Assets	$ 211,105	$ 211,105	$ 245,202
Liabilities	164,699	164,699	128,048
Noncontrolling minority interest, net loss	(991)	(1,396)
Noncontrolling interest in JV	(1,451)	(1,451)	$ (55)
Mexico Joint Venture [Member]
Schedule of Equity Method Investments [Line Items]
Assets	5,500	5,500
Liabilities	400	400
Net loss	2,000	2,800
Noncontrolling minority interest, net loss		(1,400)
Noncontrolling interest in JV	$ (1,500)	$ (1,500)

- Definition

The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 45
-Paragraph 1A
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=118930883&loc=SL7669619-108580

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 810
-SubTopic 10
-Section 50
-Paragraph 1A
-Subparagraph (a)(1)
-URI http://asc.fasb.org/extlink&oid=109239629&loc=SL4573702-111684

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 45
-Paragraph 1B
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=118930883&loc=SL7669625-108580

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 810
-SubTopic 10
-Section 50
-Paragraph 1A
-Subparagraph (c)(1)
-URI http://asc.fasb.org/extlink&oid=109239629&loc=SL4573702-111684

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-URI http://asc.fasb.org/extlink&oid=115929826&loc=d3e8736-108599

Reference 6: http://www.xbrl.org/2003/role/exampleRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 810
-SubTopic 10
-Section 55
-Paragraph 4J
-URI http://asc.fasb.org/extlink&oid=116874947&loc=SL4591551-111686

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 230
-SubTopic 10
-Section 45
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=118932676&loc=d3e3000-108585

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 810
-SubTopic 10
-Section 45
-Paragraph 19
-URI http://asc.fasb.org/extlink&oid=108774443&loc=SL4569616-111683

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=115929826&loc=d3e8933-108599

Reference 10: http://www.xbrl.org/2003/role/exampleRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 810
-SubTopic 10
-Section 55
-Paragraph 4K
-URI http://asc.fasb.org/extlink&oid=116874947&loc=SL4591552-111686

+ Details

Leases (Narrative) (Details) $ in Thousands	1 Months Ended	3 Months Ended	9 Months Ended
Leases (Narrative) (Details) $ in Thousands	Dec. 31, 2021	Mar. 31, 2019 USD ($)	Sep. 30, 2020 USD ($) item	Oct. 08, 2020	Dec. 31, 2019 USD ($)
Leases [Line Items]
Operating lease liabilities			$ 59,650		$ 68,727
Number of renewal options \| item			2
Extension term			5 years
Increase in liability		$ 32,079	$ 1,326
Minimum [Member]
Leases [Line Items]
Lease term			2 years 6 months
Maximum [Member]
Leases [Line Items]
Lease term			8 years
Office Space [Member]
Leases [Line Items]
Operating lease liabilities			$ 3,000
Lease term			11 years 6 months
Scenario, Forecast [Member]
Leases [Line Items]
Change in leased area	40.00%
Subsequent Event [Member]
Leases [Line Items]
Extension term				1 month

Leases (Components of Lease Cost) (Details) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended
	Sep. 30, 2020	Sep. 30, 2020
Leases [Abstract]
Fixed	$ 2,515	$ 8,412
Short-term	210	581
Total lease cost	$ 2,725	$ 8,993

Leases (Supplemental Balance Sheet Information) (Details) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Leases [Abstract]
Right of use asset	$ 34,059	$ 56,507
Lease liability, current	15,102	14,960
Lease liability, long-term	44,548	53,766
Total operating lease liabilities	$ 59,650	$ 68,727

Leases (Supplemental Cash Flow Information) (Details) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended
	Mar. 31, 2019	Sep. 30, 2020
Leases [Abstract]
Operating cash flows from operating leases		$ 13,371
Operating leases	$ 32,079	$ 1,326

Leases (Aggregate Future Operating Lease Payments) (Details) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Leases [Abstract]
2020		$ 17,743
2020 (Excluding the nine months ended September 30, 2020)	$ 4,366
2021	17,387	17,200
2022	10,205	9,969
2023	9,074	8,832
2024	8,332	8,082
Thereafter	18,040	16,164
Total lease payments	67,404	77,990
Less: interest	(7,754)	(9,263)
Total	$ 59,650	$ 68,727

Leases (Operating Lease Information) (Details)	Sep. 30, 2020
Leases [Abstract]
Weighted-average remaining lease term (years)	6 years 10 months 24 days
Weighted-average discount rate	4.50%

Revenue Recognition (Narrative) (Details) - USD ($)	9 Months Ended
Revenue Recognition (Narrative) (Details) - USD ($)	Sep. 30, 2020	Dec. 31, 2019
Disaggregation of Revenue [Line Items]
Contract assets, current	$ 0
Contract assets, noncurrent	0
Deferred revenue and customer deposits	32,076,000	$ 5,607,000
Performance obligation	61,379,000
Provision for doubtful accounts	$ 972,000
Minimum [Member] \| Railcar Sales [Member]
Disaggregation of Revenue [Line Items]
Accounts Receivable, Term	5 days
Minimum [Member] \| Parts Sales [Member]
Disaggregation of Revenue [Line Items]
Accounts Receivable, Term	30 days
Maximum [Member] \| Railcar Sales [Member]
Disaggregation of Revenue [Line Items]
Accounts Receivable, Term	10 days
Maximum [Member] \| Parts Sales [Member]
Disaggregation of Revenue [Line Items]
Accounts Receivable, Term	45 days

Revenue Recognition (Schedule Of Revenue Recognition) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	$ 23,967	$ 39,088	$ 43,750	$ 180,094
Leasing revenues	1,235	1,563	4,107	4,926
Total revenues	25,202	40,651	47,857	185,020
Railcar Sales [Member]
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	21,400	36,343	36,672	171,460
Parts Sales [Member]
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	$ 2,567	2,733	7,077	8,592
Other sales [Member]
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers		$ 12	$ 1	$ 42

Segment Information (Narrative) (Details)	9 Months Ended
Segment Information (Narrative) (Details)	Sep. 30, 2020 segment
Segment Information [Abstract]
Number of Operating Segments	2
Number of Reportable Segments	1

Segment Information (Schedule of Segment Reporting Information, by Segment) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Segment Reporting Information [Line Items]
Revenues	$ 25,202	$ 40,651	$ 47,857	$ 185,020
Operating (Loss) Income	(41,340)	(36,256)	(71,381)	(66,615)
Consolidated interest expense and deferred financing costs	(208)	(223)	(671)	(374)
Consolidated other income	160	363	518	765
Loss before income taxes	(41,388)	(36,116)	(71,534)	(66,224)
Restructuring and impairment charges	30,103	23,032	31,250	24,351
Manufacturing [Member]
Segment Reporting Information [Line Items]
Restructuring and impairment charges	30,103	23,032	31,250	24,351
Operating Segments [Member]
Segment Reporting Information [Line Items]
Revenues	25,202	40,651	47,857	185,020
Operating (Loss) Income	(41,340)	(36,256)	(71,381)	(66,615)
Consolidated interest expense and deferred financing costs	(208)	(223)	(671)	(374)
Consolidated other income	160	363	518	765
Loss before income taxes	(41,388)	(36,116)	(71,534)	(66,224)
Depreciation and amortization	2,070	3,010	7,954	9,487
Capital expenditures	1,258	1,257	8,267	3,292
Operating Segments [Member] \| Manufacturing [Member]
Segment Reporting Information [Line Items]
Revenues	22,589	37,868	40,658	176,280
Operating (Loss) Income	(36,786)	(30,788)	(56,934)	(43,444)
Depreciation and amortization	1,915	2,819	7,398	8,922
Capital expenditures	1,180	1,052	7,132	2,485
Operating Segments [Member] \| Corporate and Other [Member]
Segment Reporting Information [Line Items]
Revenues	2,613	2,783	7,199	8,740
Operating (Loss) Income	(4,554)	(5,468)	(14,447)	(23,171)
Depreciation and amortization	155	191	556	565
Capital expenditures	$ 78	$ 205	$ 1,135	$ 807

Segment Information (Reconciliation of Assets from Segment to Consolidated) (Details) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Segment Reporting Information [Line Items]
Consolidated income taxes receivable	$ 109	$ 535
Total assets	211,105	245,202
Operating Segments [Member]
Segment Reporting Information [Line Items]
Total operating assets	210,999	244,188
Consolidated income taxes receivable	109	1,014
Consolidated deferred income taxes, long-term	(3)
Total assets	211,105	245,202
Operating Segments [Member] \| Manufacturing [Member]
Segment Reporting Information [Line Items]
Total operating assets	163,940	156,859
Operating Segments [Member] \| Corporate and Other [Member]
Segment Reporting Information [Line Items]
Total operating assets	$ 47,059	$ 87,329

Segment Information (Geographic Information) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019	Dec. 31, 2019
Segment Reporting Information [Line Items]
Revenues	$ 25,202	$ 40,651	$ 47,857	$ 185,020
Operating Segments [Member]
Segment Reporting Information [Line Items]
Revenues	25,202	40,651	47,857	185,020
Long-Lived Assets	91,641		91,641		$ 133,971
Operating Segments [Member] \| United States [Member]
Segment Reporting Information [Line Items]
Revenues	25,202	$ 40,651	47,857	$ 185,020
Long-Lived Assets	85,720		85,720		132,825
Operating Segments [Member] \| Mexico [Member]
Segment Reporting Information [Line Items]
Long-Lived Assets	$ 5,921		$ 5,921		$ 1,146

Fair Value Measurements (Narrative) (Details) - USD ($) $ in Thousands	1 Months Ended	3 Months Ended	9 Months Ended
	Sep. 30, 2020	Sep. 30, 2020	Sep. 30, 2020	Dec. 31, 2019	Sep. 30, 2015
Fair Value Measurements [Abstract]
Purchase price in escrow				$ 980	$ 1,960
cash received from escrow	$ 980
Non-cash impairment charges	8,978
Impairment and loss on right of use asset	$ 17,540	$ 17,540	$ 17,540

Fair Value Measurements (Fair Value, Assets Measured on Recurring Basis) (Details) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets held for sale	$ 10,383
Fair Value, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents and restricted cash equivalents	7,992	$ 4,580
Restricted certificates of deposit	182	3,769
Escrow receivable		930
Fair Value, Nonrecurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets held for sale	10,383
Right of use asset	27,697
Fair Value, Inputs, Level 1 [Member] \| Fair Value, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents and restricted cash equivalents	7,992	4,580
Restricted certificates of deposit	182	3,769
Fair Value, Inputs, Level 3 [Member] \| Fair Value, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Escrow receivable		$ 930
Fair Value, Inputs, Level 3 [Member] \| Fair Value, Nonrecurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets held for sale	10,383
Right of use asset	$ 27,697

Restricted Cash (Details) $ in Thousands	Sep. 30, 2020 USD ($)
Restricted Cash and Cash Equivalents Items [Line Items]
Total restricted cash	$ 5,886
Customer Deposit [Member]
Restricted Cash and Cash Equivalents Items [Line Items]
Total restricted cash	5,683
Collateralize Standby Letters Of Credit [Member]
Restricted Cash and Cash Equivalents Items [Line Items]
Total restricted cash	$ 203

Inventories (Narrative) (Details) - USD ($) $ in Thousands	3 Months Ended
Inventories (Narrative) (Details) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Inventories [Abstract]
Inventory valuation reserves	$ 11,839	$ 5,633
Increase in reserve	$ 5,000

Inventories (Schedule of Inventory Current) (Details) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Inventories [Abstract]
Work in process	$ 55,457	$ 19,742
Finished new railcars
Parts inventory	4,729	5,350
Total inventories, net	$ 60,186	$ 25,092

Debt Financing and Revolving Credit Facilities (Narrative) (Details)			9 Months Ended
	Feb. 21, 2020 USD ($)	Apr. 16, 2019 USD ($) item	Sep. 30, 2020 USD ($)	Aug. 07, 2020 USD ($)	Apr. 12, 2019 USD ($)
Line of Credit Facility [Line Items]
2021			$ 7,500,000
2022			2,500,000
Paycheck Protection Program Loan [Member]
Line of Credit Facility [Line Items]
Aggregate principal amount			$ 10,000,000
Interest rate			1.00%
Term			2 years
Extension term			5 years
BMO Harris Bank [Member] \| Revolving Credit Facility [Member]
Line of Credit Facility [Line Items]
Aggregate principal amount					$ 50,000,000
Line of Credit Facility, Expiration Date			Apr. 12, 2024
Maximum borrowing capacity					42,500,000
Outstanding borrowings			$ 0
qualified unrestricted cash, percent	100.00%
Qualified unrestricted cash	$ 4,000,000
BMO Harris Bank [Member] \| Revolving Sub-Credit Facility [Member]
Line of Credit Facility [Line Items]
Aggregate principal amount					$ 10,000,000
Outstanding borrowings			4,000,000
M & T Bank [Member] \| Revolving Credit Facility [Member]
Line of Credit Facility [Line Items]
Collateral carrying value			$ 16,155,000
Line of Credit Facility, Expiration Date			Apr. 16, 2021
Maximum borrowing capacity		$ 40,000,000
Outstanding borrowings			$ 10,200,000
Payment demand				$ 5,081,000
Payment term			5 days
Interest coverage ratio \| item		1.25
Interest rate			2.24%
M & T Bank [Member] \| Revolving Credit Facility [Member] \| London Interbank Offered Rate (LIBOR) [Member]
Line of Credit Facility [Line Items]
Debt Instrument, Basis Spread on Variable Rate			2.05%

Debt Financing and Revolving Credit Facilities (Long-Term Debt) (Details) $ in Thousands	Sep. 30, 2020 USD ($)
Debt Instrument [Line Items]
Total debt	$ 20,200
Less amounts due within one year	(15,825)
Long-term debt, net of current portion	4,375
M&T Credit Agreement [Member]
Debt Instrument [Line Items]
Total debt	10,200
Paycheck Protection Program Loan [Member]
Debt Instrument [Line Items]
Total debt	$ 10,000

Accumulated Other Comprehensive Income (Loss) (Schedule of Changes in Accumulated Other Comprehensive Income (Loss)) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Accumulated Other Comprehensive Income (Loss) [Line Items]
Pre-Tax	$ 140	$ 44	$ 421	$ 131
After-Tax	140	44	421	131
Accumulated Defined Benefit Plans Adjustment, Actuarial Gain (Loss) Attributable to Parent [Member] \| Pension Benefits [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Pre-Tax			421
After-Tax			$ 421
Reclassification out of Accumulated Other Comprehensive Income [Member] \| Accumulated Defined Benefit Plans Adjustment, Net Gain (Loss) Attributable to Parent [Member] \| Pension Benefits [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Pre-Tax	140	138		412
After-Tax	$ 140	138		412
Reclassification out of Accumulated Other Comprehensive Income [Member] \| Accumulated Defined Benefit Plans Adjustment, Net Gain (Loss) Attributable to Parent [Member] \| Postretirement Benefit Plan [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Pre-Tax		(98)		(292)
After-Tax		(98)		(292)
Reclassification out of Accumulated Other Comprehensive Income [Member] \| Accumulated Defined Benefit Plans Adjustment, Net Prior Service Attributable to Parent [Member] \| Postretirement Benefit Plan [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Pre-Tax		4		11
After-Tax		$ 4		$ 11

Accumulated Other Comprehensive Income (Loss) (Components of Accumulated Other Comprehensive Income (Loss)) (Details) - USD ($) $ in Thousands	Sep. 30, 2020	Jun. 30, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Dec. 31, 2018
Accumulated Other Comprehensive Income (Loss) [Line Items]
Accumulated other comprehensive loss, net of tax	$ 46,406	$ 87,300	$ 117,154	$ 128,996	$ 164,201	$ 193,610
Accumulated Defined Benefit Plans Adjustment Including Portion Attributable to Noncontrolling Interest [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Accumulated other comprehensive loss, net of tax	(10,359)		(10,780)
Pension Benefits [Member] \| Accumulated Defined Benefit Plans Adjustment Including Portion Attributable to Noncontrolling Interest [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Accumulated other comprehensive loss, net of tax	(10,359)		(10,780)
Accumulated other comprehensive loss, tax	$ 6,282		$ 6,282

Stock-Based Compensation (Narrative) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Restricted Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Remaining requisite service period			20 months
Unearned compensation	$ 1,242		$ 1,242
Time-Vested Stock Options [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unearned compensation related to options	252		$ 252
Remaining service period			15 months
Stock Appreciation Rights (SARs) [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award Vesting Period			3 years
Award contractual term			10 years
Stock-based compensation	261		$ 192
Estimated fair value	$ 1,135		$ 1,135
Options Outstanding (shares)	834,343		834,343
Including Liability Based Awards [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation	$ 485	$ 480	$ 578	$ 754
Certain Employees [Member] \| Stock Appreciation Rights (SARs) [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Options granted			1,139,464
Options forfeited			305,121

Stock-Based Compensation (Stock Option Grants) (Details) - Stock Appreciation Rights (SARs) [Member]	9 Months Ended
	Sep. 30, 2020 $ / shares
1/24/2020 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Grant Year	2020
Grant Date	Jan. 24, 2020
Expected Life	5 years 3 months 18 days
Expected Volatility	61.00%
Expected Dividend Yield	0.00%
Risk Free Interest Rate	0.31%
Fair Value Per Award	$ 1.36
3/9/2020 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Grant Year	2020
Grant Date	Mar. 09, 2020
Expected Life	5 years 4 months 24 days
Expected Volatility	60.75%
Expected Dividend Yield	0.00%
Risk Free Interest Rate	0.32%
Fair Value Per Award	$ 1.45
9/14/2020 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Grant Year	2020
Grant Date	Sep. 14, 2020
Expected Life	6 years
Expected Volatility	59.76%
Expected Dividend Yield	0.00%
Risk Free Interest Rate	0.36%
Fair Value Per Award	$ 1.28

Employee Benefit Plans (Narrative) (Details) - USD ($)	3 Months Ended		9 Months Ended
Employee Benefit Plans (Narrative) (Details) - USD ($)	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Defined contribution plan expense recognized		$ 331,000		$ 1,075,000
Pension Benefits [Member]
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Expected total contributions for current fiscal year	$ 0		$ 0
Employer contributions	0	0	0	0
Postretirement Benefit Plan [Member]
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Employer contributions	$ 0	$ 156,000	$ 0	$ 432,000

Employee Benefit Plans (Components of Net Periodic Benefit Cost) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Pension Benefits [Member]
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Interest cost	$ 358	$ 466	$ 1,074	$ 1,398
Expected return on plan assets	(609)	(555)	(1,828)	(1,665)
Amortization of unrecognized net (gain) loss	140	138	421	412
Total net periodic benefit cost	$ (111)	49	$ (333)	145
Postretirement Benefit Plan [Member]
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Service cost		5		15
Interest cost		46		136
Amortization of prior service cost		4		11
Amortization of unrecognized net (gain) loss		(98)		(292)
Total net periodic benefit cost		$ (43)		$ (130)

Contingencies and Legal Settlements (Details) - USD ($) $ in Thousands	9 Months Ended	12 Months Ended			36 Months Ended
	Sep. 30, 2020	Dec. 31, 2019	Dec. 31, 2017	Dec. 31, 2015	Dec. 31, 2022
State and local incentives received			$ 1,410	$ 15,733
Deferred liability balance	$ 5,277
Contingency losses		$ 7,500
Settlement payments		$ 3,500
Settlement payment term	3 years
Maximum [Member]
Incentive term	6 years
Scenario, Forecast [Member]
Settlement payments					$ 4,000

Earnings Per Share (Narrative) (Details) - shares	3 Months Ended		9 Months Ended
Earnings Per Share (Narrative) (Details) - shares	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Earnings Per Share [Abstract]
Anti-dilutive common shares excluded from computation of earnings per share amount	1,104,263	661,048	1,083,881	665,903

Earnings Per Share (Weighted Average Common Shares Outstanding) (Details) - shares	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Earnings Per Share [Abstract]
Weighted average common shares outstanding (shares)	12,426,872	12,359,478	12,399,687	12,349,670
Dilutive effect of employee stock options and nonvested share awards (shares)
Weighted average diluted common shares outstanding (shares)	12,426,872	12,359,478	12,399,687	12,349,670

Restructuring and Impairment Charges (Narrative) (Details) $ in Thousands	1 Months Ended	3 Months Ended			9 Months Ended
	Sep. 30, 2020 USD ($)	Dec. 31, 2020 USD ($)	Sep. 30, 2020 USD ($)	Sep. 30, 2019 USD ($)	Sep. 30, 2020 USD ($) item	Sep. 30, 2019 USD ($)	Oct. 08, 2020
Restructuring Cost and Reserve [Line Items]
Impairment and loss on right of use asset	$ 17,540		$ 17,540		$ 17,540
Non-cash impairment charges	8,978
Fair value of property, plant and equipment	10,383		10,383		10,383
Cash charges	3,532		3,532		3,532
Amount unpaid	$ 3,359		$ 3,359		$ 3,359
Goodwill impairment				$ 21,521		$ 21,521
Number of renewal options \| item					2
Extension term	5 years		5 years		5 years
Impairment charge	$ 26,518
Maximum [Member]
Restructuring Cost and Reserve [Line Items]
Expected cost	10		$ 10		$ 10
Minimum [Member]
Restructuring Cost and Reserve [Line Items]
Expected cost	$ 8		8		$ 8
Scenario, Forecast [Member]
Restructuring Cost and Reserve [Line Items]
Gain related to lease termination		$ 15,000
Manufacturing [Member]
Restructuring Cost and Reserve [Line Items]
Goodwill impairment			$ 21,521
Subsequent Event [Member]
Restructuring Cost and Reserve [Line Items]
Extension term							1 month

Restructuring and Impairment Charges (Components of Restructuring and Impairment Charges) (Details) - USD ($) $ in Thousands	1 Months Ended	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Restructuring and Impairment Charges [Abstract]
Impairment and loss on right of use asset	$ 17,540	$ 17,540		$ 17,540
Impairment and loss on disposal of machinery and equipment		9,031	$ 61	9,469	$ 1,380
Employee severance and retention		3,381	1,318	3,378	1,318
Goodwill impairment			21,521		21,521
Other charges related to facility closure		151	132	863	132
Total restructuring and impairment charges		$ 30,103	$ 23,032	$ 31,250	$ 24,351

Restructuring and Impairment Charges (Schedule Of Restructuring Reserve Activity) (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019
Restructuring Cost and Reserve [Line Items]
Accrued	$ 1,006
Cash Charges	4,169	$ 1,450
Non-cash charges	26,923	22,901
Cash payments	(1,816)	(84)
Accrued	3,359	1,366
Impairment And Loss On Right Of Use Assets [Member]
Restructuring Cost and Reserve [Line Items]
Non-cash charges	17,540
Impairment Charges For Leasehold Improvements And Equipment [Member]
Restructuring Cost and Reserve [Line Items]
Non-cash charges		1,380
Impairment And Loss On Disposal Of Machinery And Equipment [Member]
Restructuring Cost and Reserve [Line Items]
Non-cash charges	9,469
Employee Severance And Retention [Member]
Restructuring Cost and Reserve [Line Items]
Accrued	647
Cash Charges	3,371	1,318
Cash payments	(659)
Accrued	3,359	1,318
Other Charges Related To Facility Closure [Member]
Restructuring Cost and Reserve [Line Items]
Accrued	359
Cash Charges	798	132
Non-cash charges	(86)
Cash payments	$ (1,157)	(84)
Accrued		48
Goodwill Impairment [Member]
Restructuring Cost and Reserve [Line Items]
Non-cash charges		$ 21,521

Subsequent Events (Details)				3 Months Ended	9 Months Ended
Subsequent Events (Details)	Oct. 16, 2020 USD ($) $ / shares	Oct. 13, 2020 USD ($) $ / shares	Oct. 08, 2020 USD ($)	Dec. 31, 2020 USD ($)	Sep. 30, 2020 item $ / shares	Dec. 31, 2019 $ / shares
Subsequent Event [Line Items]
Par value \| $ / shares					$ 0.01	$ 0.01
Oustanding Common stock fully-diluted		23.00%
Number of renewal options \| item					2
Extension term					5 years
Siena Loan Agreement [Member]
Subsequent Event [Line Items]
Availability limit			85.00%
Market value of inventory			50.00%
Liquidation value			85.00%
FCA-Fasemex, LLC [Member]
Subsequent Event [Line Items]
Payments to Acquire Businesses, Gross	$ 173,000
Shares issued	$ 2,257,234
FCA-Fasemex, LLC [Member] \| FreightCar North America [Member]
Subsequent Event [Line Items]
Joint Venture Ownership Percentage					50.00%
Subsequent Event [Member]
Subsequent Event [Line Items]
Par value \| $ / shares		$ 0.01
Covenant	5.00%
Extension term			1 month
Subsequent Event [Member] \| Siena Loan Agreement [Member]
Subsequent Event [Line Items]
Maximum borrowing capacity			$ 20,000,000
Subsequent Event [Member] \| Term Loan Credit Agreement [Member]
Subsequent Event [Line Items]
Debt Instrument, Face Amount		$ 40,000,000
Term		5 years
Subsequent Event [Member] \| FCA-Fasemex, LLC [Member]
Subsequent Event [Line Items]
Percent acquired	50.00%
Par value \| $ / shares	$ 0.01
Scenario, Forecast [Member]
Subsequent Event [Line Items]
Gain related to lease termination				$ 15,000,000
Base Rate [Member] \| Subsequent Event [Member] \| Siena Loan Agreement [Member]
Subsequent Event [Line Items]
Debt Instrument, Basis Spread on Variable Rate			3.00%