XML 22 R11.htm IDEA: XBRL DOCUMENT
v3.23.1

Revenue Recognition | 6 Months Ended
--- | ---
Feb. 28, 2023
Revenue from Contract with Customer [Abstract] |
Revenue Recognition | Note 2 – Revenue Recognition Contract balances Contract assets primarily consist of unbilled receivables related to marine vessel construction for which the respective contracts do not yet permit billing at the reporting date, and railcar maintenance inventories. Contract liabilities primarily consist of customer prepayments for manufacturing, maintenance, and other management-type services, for which the Company has not yet satisfied the related performance obligations. The contract balances are as follows:
(in millions) |  | Balance sheet classification |  | February 28, 2023 |  |  | August 31, 2022 |  |  | $ change |
Contract assets |  | Accounts receivable, net |  | $ | 2.4 |  |  | $ | 13.0 |  |  | $ | (10.6 | )
Contract assets |  | Inventories |  | $ | 8.2 |  |  | $ | 6.0 |  |  | $ | 2.2 |
Contract liabilities 1 |  | Deferred revenue |  | $ | 65.7 |  |  | $ | 30.5 |  |  | $ | 35.2 |
1 Contract liabilities balance includes deferred revenue within the scope of Revenue from Contracts with Customers (Topic 606). For the three and six months ended February 28, 2023, the Company recognized $2.3 million and $10.0 million of revenue that was included in Contract liabilities as of August 31, 2022. Performance obligations As of February 28, 2023, the Company has entered into contracts with customers for which revenue has not yet been recognized. The following table outlines estimated revenue related to performance obligations wholly or partially unsatisfied, that the Company anticipates will be recognized in future periods.
(in millions) |  | February 28, 2023 |
Revenue type: |  |  |
Manufacturing – Railcar sales |  | $ | 2,321.9 |
Manufacturing – Marine |  | $ | 43.2 |
Manufacturing – Sustainable conversions |  | $ | 103.8 |
Management services |  | $ | 130.1 |
Other |  | $ | 11.5 |
Based on current production and delivery schedules and existing contracts, approximately $1.3 billion of Railcar sales are expected to be recognized in the remaining six months of 2023 while the remaining amount is expected to be recognized into calendar 2024. Marine revenue is expected to be recognized into 2024 as vessel construction is completed. Sustainable conversions represent orders to modernize existing railcars and are expected to be recognized through 2023. Management services includes management and maintenance services of which approximately 50% are expected to be performed through 2027 and the remaining amount through 2037.

X
- References No definition available. + Details
Name: | us-gaap_RevenueFromContractWithCustomerAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -URI https://asc.fasb.org/topic&trid=49130388 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 10 -URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130551-203045 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 13 -Subparagraph (b)(2) -URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130556-203045 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 12 -Subparagraph (b) -URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130554-203045 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 9 -URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130550-203045 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 12 -Subparagraph (e) -URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130554-203045 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 12 -Subparagraph (a) -URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130554-203045 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 12 -Subparagraph (d) -URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130554-203045 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 15 -URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130558-203045 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 12 -Subparagraph (c) -URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130554-203045 + Details
Name: | us-gaap_RevenueFromContractWithCustomerTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration