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Condensed Consolidated Statements of Operations (Unaudited) - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2016
Jun. 30, 2015
Jun. 30, 2016
Jun. 30, 2015
Revenues:        
Manufacturing (including revenues from affiliates of $223 and $776 for the three and six months ended June 30, 2016, respectively, and $61,743 and $182,939 for the same periods in 2015) $ 97,548 $ 144,481 $ 221,340 $ 366,292
Railcar leasing 33,209 28,216 65,977 52,801
Railcar services (including revenues from affiliates of $7,249 and $15,243 for the three and six months ended June 30, 2016, respectively, and $6,406 and $12,786 for the same periods in 2015) 19,727 19,301 39,347 36,681
Total revenues 150,484 191,998 326,664 455,774
Cost of revenues:        
Manufacturing (81,437) (107,714) (183,718) (282,248)
Railcar leasing (10,356) (8,993) (20,531) (16,694)
Railcar services (15,420) (14,737) (30,657) (28,582)
Total cost of revenues (107,213) (131,444) (234,906) (327,524)
Gross profit 43,271 60,554 91,758 128,250
Selling, general and administrative (7,297) (5,315) (15,254) (12,996)
Net gains on disposition of leased railcars 0 25 167 25
Earnings from operations 35,974 55,264 76,671 115,279
Interest income (including income from related parties of $427 and $884 for the three and six months ended June 30, 2016, respectively, and $538 and $1,095 for the same periods in 2015) 453 550 931 1,113
Interest expense (5,678) (5,694) (11,584) (10,432)
Loss on debt extinguishment 0 0 0 (2,126)
Other Income 1 5 1 11
Earnings from joint ventures 1,458 2,141 2,944 3,938
Earnings before income taxes 32,208 52,266 68,963 107,783
Income tax expense (12,312) (19,297) (26,275) (39,838)
Net earnings $ 19,896 $ 32,969 $ 42,688 $ 67,945
Net earnings per common share—basic and diluted (in dollars per share) $ 1.02 $ 1.54 $ 2.18 $ 3.18
Weighted average common shares outstanding—basic and diluted (in shares) 19,511 21,352 19,588 21,352
Cash dividends declared per common share (in dollars per share) $ 0.40 $ 0.40 $ 0.80 $ 0.80