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Revenue Sources and Concentration of Sales

12 Months Ended

Dec. 31, 2023

Segment Reporting Information, Additional Information [Abstract]

Revenue Sources and Concentration of Sales

Note 19 – Revenue Sources and Concentration of Sales

The following table sets forth the Company’s sales resulting from various revenue sources for the periods indicated below:


	Year Ended
	December 31,
	2023		2022
Railcar sales	$	344,595	$	349,556
Parts sales		12,227		11,941
Revenues from contracts with customers		356,822		361,497
Leasing revenues		1,271		3,257
Total revenues	$	358,093	$	364,754

Due to the nature of its operations, the Company is subject to significant concentration of risks related to business with a few customers. Sales to the Company’s top three customers accounted for 19%, 16% and 15%, respectively, of revenues for the year ended December 31, 2023. Sales to the Company’s top three customers accounted for 20%, 19% and 16%, respectively, of revenues for the year ended December 31, 2022. The Company had no sales to customers outside the United States in 2023 and 2022. As of December 31, 2023, 28% of the accounts receivable balance of $6,408 reported on the consolidated balance sheet was receivable from one customer, and 19% and 17% was receivable from a second and third customer, respectively. As of December 31, 2022, 35% of the accounts receivable balance of $9,571 reported on the consolidated balance sheet was receivable from one customer and 29% was receivable from a second customer.