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Income Taxes (Tables)

12 Months Ended

Dec. 31, 2019

Income Taxes [Abstract]

Composition of Income Tax Expense


	Year Ended December 31,
	2019		2018
Current taxes
Federal	$             (12)		$               (3)
State	42		156
	30		153
Deferred taxes
Federal	386		5,784
State	(210)		4,185
	176		9,969
Tax (benefit) expense  related to a (decrease) increase in unrecognized tax benefits	(221)		-
Interest expense, gross of related tax effects	(100)		47
Total (benefit) provision	$           (115)		$      10,169



Reconciliation of Income Tax Rate


	Year Ended December 31,
	2019		2018
Statutory U.S. federal income tax rate	21.0%		21.0%
State income taxes, net of federal tax benefit	2.9%		5.0%
Valuation allowance	(20.1)%		(59.7)%
State rate and other changes in deferred taxes	(1.1)%		1.0%
Federal and state credits	0.1%		0.1%
Uncertain tax positions	1.7%		(0.3)%
Nondeductible expenses and other	(4.3)%		(0.5)%
Effective income tax rate	0.2%		(33.4)%



Components of Deferred Tax Assets and Liabilities


			December 31, 2019				December 31, 2018
Description			Assets		Liabilities		Assets		Liabilities

Accrued postretirement and pension benefits			$          1,541		$               -		$          2,424		$                  -
Intangible assets			-		(13)		-		(1,653)
Accrued expenses			3,370		-		9,210		-
Deferred state and local incentive revenue			1,780		-		2,349		-
Inventory valuation			2,071		-		2,338		-
Property, plant and equipment and railcars on operating leases			-		(6,295)		-		(20,975)
Net operating loss and tax credit carryforwards			34,078		-		28,165		-
Stock-based compensation expense			1,152		-		1,168		-
Right of use asset			-		(14,193)		-		-
Lease liability			17,326		-		-		-
Other			-		(1,028)		1,320		(251)
			61,318		(21,529)		46,974		(22,879)
Valuation allowance			(39,792)		-		(24,450)		-
Deferred tax assets (liabilities)			$        21,526		$    (21,529)		$        22,524		$       (22,879)
Increase (decrease) in valuation allowance			$        15,342				$        18,187



Reconciliation of Unrecognized Tax Benefits


	2019		2018
Beginning of year balance	$          1,310		$          1,383
Decreases in prior period tax positions	-		(73)
Decreases related to settlements	(1,310)		-
End of year balance	$                  -		$          1,310



Income Tax Years Subject to Examination


Jurisdiction	Earliest Year Open to Examination
U.S. Federal	2017
States:
Pennsylvania	2000
Texas	2018
Illinois	2010
Virginia	2016
Colorado	2010
Indiana	2010
Nebraska	2016
Alabama	2016
Foreign:
   China	2016



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