Revenue Recognition

9 Months Ended

Sep. 30, 2019

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,
		2019		2018		2019		2018

Railcar sales	$	36,343	$	73,540	$	171,460	$	213,788
Parts sales		2,733		3,745		8,592		10,630
Other sales		12		2		42		60
Revenues from contracts with customers		39,088		77,287		180,094		224,478
Leasing revenues		1,563		1,681		4,926		4,206
Total revenues	$	40,651	$	78,968	$	185,020	$	228,684

Contract Balances and Accounts Receivable

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, 2019. 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 Condensed 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 as of September 30, 2019 were not material.

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 the practical expedient in ASU 2014-09, Revenue from Contracts with Customers. The Company had remaining unsatisfied performance obligations as of September 30, 2019 with expected duration of greater than one year of $104,100.