Product Warranties

12 Months Ended

Dec. 31, 2022

Product Warranties Disclosures [Abstract]

Product Warranties

Note 10 – Product Warranties

Warranty terms are based on the negotiated railcar sales contracts. The Company generally warrants that new railcars produced by it will be free from defects in material and workmanship under normal use and service identified for a period of up to five years from the time of sale. The changes in the warranty reserve for the years ended December 31, 2022 and 2021, are as follows:

	December 31,
	2022			2021
Balance at the beginning of the year	$	2,533		$	5,216
Current year provision		3,462			200
Reductions for payments, costs of repairs and other		(3,365	)		(1,358	)
Adjustments to prior warranties		(690	)		(1,525	)
Balance at the end of the year	$	1,940		$	2,533

Adjustments to prior warranties include changes in the warranty reserve for warranties issued in prior periods due to expiration of the warranty period, revised warranty cost estimates and other factors.