Short-term Investments - Available for Sale Securities

12 Months Ended

Dec. 31, 2013

Investments, Debt and Equity Securities [Abstract]

Short-term Investments - Available for Sale Securities

Short-term Investments – Available for Sale Securities

As of December 31, 2012, Longtrain held approximately 0.8 million shares of Greenbrier common stock that had been purchased in the open market. These shares were sold during 2013 for approximately $12.7 million, resulting in a realized gain of $2.0 million that was recorded in other income on the consolidated statements of operations. The fair value of the shares of Greenbrier that were held by the Company as of December 31, 2012 was $12.6 million and such shares were classified as a Level 1 fair value measurement as defined by U.S. GAAP and the fair value hierarchy. See Note 18 for the amount of unrealized gain on the shares during 2013.