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Inventories

9 Months Ended

Sep. 30, 2020

Inventories [Abstract]

Inventories

Note 9 – Inventories

Inventories, net of reserve for excess and obsolete items, consist of the following:

		September 30,			December 31,
		2020			2019
Work in process	$	55,457		$	19,742
Finished new railcars		-			-
Parts inventory		4,729			5,350
Total inventories, net	$	60,186		$	25,092

Inventory on the Company’s Condensed Consolidated Balance Sheets includes reserves of $11,839 and $5,633 relating to excess or slow-moving inventory and lower of cost or net realizable value for parts and work in process at September 30, 2020 and December 31, 2019, respectively. During the third quarter of 2020 the Company increased the obsolescence reserve by $5 million in connection with the planned closure of the Shoals facility.

 

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- References

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- Definition

The entire disclosure for inventory. Includes, but is not limited to, the basis of stating inventory, the method of determining inventory cost, the classes of inventory, and the nature of the cost elements included in inventory.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 330
-URI http://asc.fasb.org/topic&trid=2126998

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