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Acquisitions (Tables) | 3 Months Ended
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Mar. 31, 2017
Business Combinations [Abstract] |
Summary of Preliminary Estimated Fair Values of the Assets Acquired and Liabilities Assumed at the Date of the Acquisition | The following table summarizes the preliminary estimated fair values of the Faiveley Transport assets acquired and liabilities assumed:
In thousands |  |
Assets acquired |  |
Cash and cash equivalents |  | $ | 178,318 |
Accounts receivable |  | 444,918 |
Inventories |  | 206,516 |
Other current assets |  | 66,152 |
Property, plant, and equipment |  | 161,663 |
Goodwill |  | 1,232,143 |
Trade names |  | 333,823 |
Customer relationships |  | 255,354 |
Patents |  | 1,201 |
Other noncurrent assets |  | 158,726 |
Total assets acquired |  | 3,038,814 |
Liabilities assumed |  |
Current liabilities |  | 774,751 |
Debt |  | 409,899 |
Other noncurrent liabilities |  | 347,349 |
Total liabilities assumed |  | 1,531,999 |
Net assets acquired |  | $ | 1,506,815 |
following table summarizes the preliminary estimated fair values of the assets acquired and liabilities assumed at the date of the acquisition for ATP, Workhorse, Precision Turbo, Gerken and Unitrac:
| ATP |  | Workhorse |  | Precision Turbo |  | Gerken |  | Unitrac
In thousands | March 14, 2017 |  | December 14, 2016 |  | November 17, 2016 |  | August 1, 2016 |  | May 5, 2016
Current assets | $ | 10,882 |  |  | $ | 9,137 |  |  | $ | 4,183 |  |  | $ | 32,706 |  |  | $ | 12,136 |
Property, plant & equipment | 2,787 |  |  | 0 |  |  | 1,346 |  |  | 7,667 |  |  | 1,768 |
Goodwill | 35,146 |  |  | 24,838 |  |  | 3,942 |  |  | 17,470 |  |  | 1,388 |
Other intangible assets | 34,800 |  |  | 19,400 |  |  | 5,200 |  |  | 30,560 |  |  | 1,230 |
Other assets | — |  |  | — |  |  | — |  |  | 1,706 |  |  | — |
Total assets acquired | 83,615 |  |  | 53,375 |  |  | 14,671 |  |  | 90,109 |  |  | 16,522 |
Total liabilities assumed | (18,403 | ) |  | (9,083 | ) |  | (825 | ) |  | (27,262 | ) |  | (2,144 | )
Net assets acquired | $ | 65,212 |  |  | $ | 44,292 |  |  | $ | 13,846 |  |  | $ | 62,847 |  |  | $ | 14,378 |
Pro Forma Financial Information | The following unaudited pro forma consolidated financial information presents income statement results as if the acquisitions listed above had occurred on January 1, 2016:
In thousands | Three Months Ended March 31, 2017 |  | Three Months Ended March 31, 2016
Net sales | $ | 921,407 |  |  | $ | 1,116,789 |
Gross profit | 270,605 |  |  | 345,081 |
Net income attributable to Wabtec shareholders | 72,250 |  |  | 114,444 |
Diluted earnings per share |  |  |
As Reported | $ | 0.77 |  |  | $ | 1.02 |
Pro forma | $ | 0.77 |  |  | $ | 1.16 |

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- Definition Tabular disclosure of pro forma results of operations for a material business acquisition or series of individually immaterial business acquisitions that are material in the aggregate. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (h)(2)-(3) -URI http://asc.fasb.org/extlink&oid=65885119&loc=d3e1392-128463 + Details
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- Definition Tabular disclosure of the amounts recognized as of the acquisition date for each major class of assets acquired and liabilities assumed. May include but not limited to the following: (a) acquired receivables; (b) contingencies recognized at the acquisition date; and (c) the fair value of noncontrolling interests in the acquiree. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=73530397&loc=d3e4845-128472 + Details
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