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Acquisitions (Tables)

3 Months Ended

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

X

- 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

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X

- 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

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