Consulting Contracts

6 Months Ended

Jun. 30, 2013

Consulting Contracts [Abstract]

Consulting Contracts

Consulting Contracts

During the first quarter of 2011, the Company entered into a technology services consulting agreement with SDS-Altaiwagon, a Russian railcar builder, to design a railcar for general service in Russia for a total contract price of $1.5 million. The technology services consulting agreement was completed during the first quarter of 2012.

During the second quarter of 2011, the Company entered into a consulting agreement with the Indian Railways Research Designs and Standards Organization (RDSO) to design and develop certain railcars for service in India for a total contract price of $9.6 million. The consulting agreement is expected to continue through 2016.

For the three months ended June 30, 2013 and 2012, revenues of $0.1 million and $0.8 million, respectively, were recorded under these consulting agreements. For the six months ended June 30, 2013 and 2012, revenues of $0.8 million and $1.2 million, respectively, were recorded under these consulting agreements. As of June 30, 2013 and December 31, 2012, unbilled revenues of $2.9 million and $2.1 million, respectively, were due from the RDSO agreement. As of each balance sheet date presented, approximately $2.0 million and $1.4 million of the unbilled revenue for June 30, 2013 and December 31, 2012, respectively, has been recorded in prepaid expenses and other current assets with the remaining $0.9 million and 0.7 million, respectively, being recorded in other assets on the condensed consolidated balance sheets.