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Income Taxes (Tables)

12 Months Ended

Dec. 31, 2018

Income Taxes [Abstract]

Composition of Income Tax Expense


	Year Ended December 31,
	2018		2017
Current taxes
Federal	$               (3)		$        (2,230)
State	156		(187)
	153		(2,417)
Deferred taxes
Federal	5,784		(4,703)
State	4,185		(1,721)
	9,969		(6,424)
Tax (benefit) expense  related to a (decrease) increase in unrecognized tax benefits	-		(57)
Interest expense, gross of related tax effects	47		53
Total (benefit) provision	$      10,169		$        (8,845)



Reconciliation of Income Tax Rate


	Year Ended December 31,
	2018		2017
Statutory U.S. federal income tax rate	21.0%		35.0%
State income taxes, net of federal tax benefit	5.0%		3.4%
Valuation allowance	(59.7)%		0.1%
Enactment of the Tax Cuts and Jobs Act	0.0%		(8.0)%
Domestic manufacturing deduction	0.0%		(1.0)%
State rate and other changes in deferred taxes	1.0%		(1.3)%
Federal and state credits	0.1%		0.1%
Uncertain tax positions	(0.3)%		(0.3)%
Nondeductible expenses and other	(0.5)%		0.2%
Effective income tax rate	(33.4)%		28.2%



Components of Deferred Tax Assets and Liabilities


			December 31, 2018				December 31, 2017
Description			Assets		Liabilities		Assets		Liabilities

Accrued postretirement and pension benefits			$          2,424		$               -		$          2,545		$                  -
Intangible assets			-		(1,653)		-		(1,669)
Accrued expenses			9,210		-		4,104		-
Deferred state and local incentive revenue			2,349		-		2,933		-
Inventory valuation			2,338		-		1,869		-
Property, plant and equipment and railcars on operating leases			-		(20,975)		-		(8,957)
Net operating loss and tax credit carryforwards			28,165		-		13,371		-
Stock-based compensation expense			1,168		-		807		-
Other			1,320		(251)		1,085		(379)
			46,974		(22,879)		26,714		(11,005)
Valuation allowance			(24,450)		-		(6,263)		-
Deferred tax assets (liabilities)			$        22,524		$    (22,879)		$        20,451		$       (11,005)
Increase (decrease) in valuation allowance			$        18,187				$          1,066



Reconciliation of Unrecognized Tax Benefits


	2018		2017
Beginning of year balance	$          1,383		$          1,572
Increases in prior period tax positions	-		-
Decreases in prior period tax positions	(73)		(189)
Increases in current period tax positions	-		-
End of year balance	$          1,310		$          1,383



Income Tax Years Subject to Examination


Jurisdiction	Earliest Year Open to Examination
U.S. Federal	2012
States:
Pennsylvania	2000
Texas	2014
Illinois	2010
Virginia	2015
Colorado	2010
Indiana	2010
Nebraska	2010
Alabama	2015
Foreign:
   China	2015



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