Share-based Compensation (Tables)

12 Months Ended

Dec. 31, 2015

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Schedule of Share-based Compensation Expense

The following table presents the amounts incurred by ARI for share-based compensation, or SARs and the corresponding line items on the consolidated statements of operations that they are classified within:

	Years Ended December 31,
	2015		2014		2013
	(in thousands)
Share-based compensation expense:
Cost of revenues: Manufacturing	$	89	$	697	$	909
Cost of revenues: Railcar Services	7		186		234
Selling, general and administrative	550		2,309		3,986
Total share-based compensation expense	$	646	$	3,192	$	5,129

Analysis of SARs outstanding

The following table provides an analysis of all SARs outstanding and assumptions that were used as of December 31, 2015:

	Grant Year
	2015	2014	2012	2011	2010	2009
SARs outstanding	111,099	72,938	12,663	6,868	250	225
Weighted average exercise price	$50.27	$50.06	$29.31	$24.45	$13.34	$6.71
Weighted average expected volatility range	44.8%	44.6%	46.3%	46.3%	55.1%	55.1%
Weighted average risk-free interest rate range	1.5%	1.3%	1.1%	0.6%	0.6%	0.6%
Expected Dividend yield	3.5%	3.5%	3.5%	3.5%	3.5%	3.5%
Forfeiture Rate on unvested SARs	4.0%	4.0%	N/A	N/A	N/A	N/A

Summary of SARs activity under the 2005 Plan

The following is a summary of SARs activity under the 2005 Plan:

	Stock Appreciation Rights (SARs)		Weighted Average Exercise Price	Weighted Average Remaining Contractual Life	Weighted Average Fair Value of SARs	Aggregate Intrinsic Value ($000)
Outstanding at January 1, 2013	597,392		$21.54
Granted	—		$—
Cancelled/Forfeited	(41,114	)
Exercised	(349,044	)
Outstanding at December 31, 2013	207,234		$25.85
Granted	119,342		$49.31
Cancelled/Forfeited	(50,550	)
Exercised	(136,915	)
Outstanding at December 31, 2014	139,111		$41.02
Granted	134,037		$50.27
Cancelled/Forfeited	(29,817	)
Exercised	(39,288	)
Outstanding at December 31, 2015	204,043		$47.93	63 months	$11.38	$382
Exercisable at December 31, 2015	48,761		$40.68	40 months	$12.69	$382