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Income Taxes (Tables)
 12 Months Ended
Dec. 31, 2017
Income Tax Disclosure [Abstract]  
Components of income tax provision
Income tax provision (benefit) applicable to continuing operations consists of the following:
 
Year ended December 31,
(in thousands)
2017
 
2016
 
2015
Current:
 
 
 
 
 
   Federal
$
(1,668
)
 
$
(702
)
 
$
(3,237
)
   State and local
643

 
199

 
(762
)
   Foreign
1,125

 
1,385

 
1,224

 
$
100

 
$
882

 
$
(2,775
)
 
 
 
 
 
 
Deferred:
 
 
 
 
 
   Federal
$
(61,655
)
 
$
3,523

 
$
1,756

   State and local
(2,107
)
 
1,696

 
519

   Foreign
528

 
810

 
258

 
$
(63,234
)
 
$
6,029

 
$
2,533

 
 
 
 
 
 
Total:
 
 
 
 
 
   Federal
$
(63,323
)
 
$
2,821

 
$
(1,481
)
   State and local
(1,464
)
 
1,895

 
(243
)
   Foreign
1,653

 
2,195

 
1,482

 
$
(63,134
)
 
$
6,911

 
$
(242
)
Components of income before income taxes
Income (loss) before income taxes from continuing operations consists of the following:
 
Year ended December 31,
(in thousands)
2017
 
2016
 
2015
   U.S.
$
(25,645
)
 
$
11,526

 
$
(18,867
)
   Foreign
5,120

 
9,855

 
7,303

 
$
(20,525
)
 
$
21,381

 
$
(11,564
)
Effective tax rate reconciliation
A reconciliation from the statutory U.S. federal tax rate to the effective tax rate follows:
 
Year ended December 31,
 
2017
 
2016
 
2015
Statutory U.S. federal tax rate
35.0
 %
 
35.0
 %
 
35.0
 %
Increase (decrease) in rate resulting from:
 
 
 
 
 
  Effect of noncontrolling interest
0.2

 
(4.7
)
 
5.3

  State and local income taxes, net of related federal taxes
(4.2
)
 
5.8

 
1.4

  Income taxes on foreign earnings
(2.2
)
 
(1.3
)
 
9.4

  Change in federal and state tax rates
374.8

 
—

 
—

  Goodwill impairment
(93.5
)
 
—

 
(35.6
)
  Equity Method Investments
(0.4
)
 
0.3

 
1.9

  Tax effect of one-time transition tax
(7.1
)
 
—

 
—

  Release of unrecognized tax benefts
3.0

 
0.1

 
0.5

  Nondeductible compensation
(2.5
)
 
2.0

 
(5.0
)
  Tax associated with accrued and unpaid dividends
0.1

 
3.2

 
(13.6
)
  Federal income tax credits
—

 
(7.3
)
 
—

  Change in pre-acquisition tax liability and other costs
—

 
—

 
3.5

  Other, net
4.4

 
(0.8
)
 
(0.7
)
Effective tax rate
307.6
 %
 
32.3
 %
 
2.1
 %
Deferred tax liabilities and assets
Significant components of the Company's deferred tax liabilities and assets are as follows:
 
December 31,
(in thousands)
2017
 
2016
Deferred tax liabilities:
 
 
 
  Property, plant and equipment and Rail Group assets leased to others
$
(129,876
)
 
$
(179,250
)
  Equity method investments
(31,223
)
 
(45,244
)
  Other
(8,754
)
 
(22,286
)
 
(169,853
)
 
(246,780
)
Deferred tax assets:
 
 
 
  Employee benefits
15,229

 
25,403

  Accounts and notes receivable
2,317

 
2,964

  Inventory
6,100

 
9,979

  Federal income tax credits
10,225

 
7,150

  Net operating loss carryforwards
5,753

 
3,322

  Other
9,674

 
16,224

  Total deferred tax assets
49,298

 
65,042

Valuation allowance
(1,024
)
 
(310
)
 
48,274

 
64,732

Net deferred tax liabilities
$
(121,579
)
 
$
(182,048
)
Unrecognized tax benefits excluding interest and penalties
A reconciliation of the January 1, 2015 to December 31, 2017 amount of unrecognized tax benefits is as follows:

(in thousands)
 
Balance at January 1, 2015
$
1,487

Additions based on tax positions related to the current year
55

Additions based on tax positions related to prior years
691

Reductions based on tax positions related to prior years
(518
)
Reductions as a result of a lapse in statute of limitations
(284
)
Balance at December 31, 2015
1,431

 
 
Additions based on tax positions related to the current year
113

Reductions based on tax positions related to prior years
(40
)
Reductions as a result of a lapse in statute of limitations
(52
)
Balance at December 31, 2016
1,452

 
 
Additions based on tax positions related to the current year
—

Additions based on tax positions related to prior years
—

Reductions based on tax positions related to prior years
(92
)
Reductions as a result of a lapse in statute of limitations
(573
)
Balance at December 31, 2017
$
787