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Income Taxes (Tables)

12 Months Ended

Dec. 31, 2017

Income Taxes [Abstract]

Composition of Income Tax Expense


	Year Ended December 31,
	2017		2016		2015
Current taxes
Federal	$         (2,230)		$       (15,747)		$       16,709
State	(187)		(486)		751
	(2,417)		(16,233)		17,460
Deferred taxes
Federal	(4,703)		23,869		(2,767)
State	(1,721)		(1,146)		88
	(6,424)		22,723		(2,679)
Tax (benefit) expense related to a (decrease) increase in unrecognized tax benefits	(57)		(1,120)		59
Interest expense, gross of related tax effects	53		(1,906)		(9)
Total (benefit) provision	$         (8,845)		$         3,464		$       14,831



Reconciliation of Income Tax Rate


	Year Ended December 31,
	2017		2016		2015
Statutory U.S. federal income tax rate	35.0%		35.0%		35.0%
State income taxes, net of federal tax benefit	3.4%		3.4%		3.2%
Valuation allowance	0.1%		(2.6)%		(1.0)%
Enactment of the Tax Cuts and Jobs Act	(8.0)%		0.0%		0.0%
Domestic manufacturing deduction	(1.0)%		7.6%		(3.6)%
State rate and other changes in deferred taxes	(1.3)%		(1.9)%		0.4%
Federal and state credits	0.1%		(4.8)%		(2.7)%
Uncertain tax positions	(0.3)%		(16.1) %		0.4%
Nondeductible expenses and other	0.2%		1.3%		0.1%
Effective income tax rate	28.2%		21.9%		31.8%



Components of Deferred Tax Assets and Liabilities


			December 31, 2017				December 31, 2016
Description			Assets		Liabilities		Assets		Liabilities

Accrued postretirement and pension benefits			$          2,545		$               -		$          4,624		$                  -
Intangible assets			-		(1,669)		-		(2,838)
Accrued expenses			4,104		-		6,961		-
Deferred state and local incentive revenue			2,933		-		4,733		-
Inventory valuation			1,869		-		2,621		-
Property, plant and equipment and railcars on operating leases			-		(8,957)		-		(14,897)
Net operating loss and tax credit carryforwards			13,371		-		5,731		-
Stock-based compensation expense			807		-		2,825		-
Other			1,085		(379)		419		(761)
			26,714		(11,005)		27,914		(18,496)
Valuation allowance			(6,263)		-		(5,197)		-
Deferred tax assets (liabilities)			$        20,451		$    (11,005)		$        22,717		$       (18,496)
Increase (decrease) in valuation allowance			$          1,066				$            (600)



Reconciliation of Unrecognized Tax Benefits


	2017		2016		2015
Beginning of year balance	$          1,572		$          2,503		$        2,444
Increases in prior period tax positions	-		13		-
Decreases in prior period tax positions	(189)		(1,924)		-
Increases in current period tax positions	-		980		59
End of year balance	$          1,383		$          1,572		$        2,503



Income Tax Years Subject to Examination


Jurisdiction	Earliest Year Open to Examination
U.S. Federal	2010
States:
Pennsylvania	2000
Texas	2013
Illinois	2010
Virginia	2014
Colorado	2010
Indiana	2010
Nebraska	2010
Alabama	2014
Foreign:
   China	2015



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Tabular disclosure of the components of income tax expense attributable to continuing operations for each year presented including, but not limited to: current tax expense (benefit), deferred tax expense (benefit), investment tax credits, government grants, the benefits of operating loss carryforwards, tax expense that results from allocating certain tax benefits either directly to contributed capital or to reduce goodwill or other noncurrent intangible assets of an acquired entity, adjustments of a deferred tax liability or asset for enacted changes in tax laws or rates or a change in the tax status of the entity, and adjustments of the beginning-of-the-year balances of a valuation allowance because of a change in circumstances that causes a change in judgment about the realizability of the related deferred tax asset in future years.

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