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Acquisitions (Tables) | 6 Months Ended
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Jun. 30, 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 assets acquired and liabilities assumed at the date of the acquisition for TTC, ATP, Workhorse, Precision Turbo, and Gerken. For the Unitrac acquisition, the following table summarizes the final fair value of the assets acquired and liabilities assumed at the date of acquisition.
| TTC |  | ATP |  | Workhorse |  | Precision Turbo |  | Gerken |  | Unitrac
In thousands | April 5, 2017 |  | March 14, 2017 |  | December 14, 2016 |  | November 17, 2016 |  | August 1, 2016 |  | May 5, 2016
Current assets | $ | 3,746 |  |  | $ | 11,679 |  |  | $ | 9,137 |  |  | $ | 4,146 |  |  | $ | 32,706 |  |  | $ | 11,476 |
Property, plant & equipment | 5,909 |  |  | 5,354 |  |  | 0 |  |  | 1,346 |  |  | 7,667 |  |  | 1,768 |
Goodwill | 21,122 |  |  | 41,036 |  |  | 24,373 |  |  | 3,959 |  |  | 17,470 |  |  | 2,442 |
Other intangible assets | 11,800 |  |  | 22,100 |  |  | 19,400 |  |  | 5,200 |  |  | 30,560 |  |  | 1,230 |
Other assets | — |  |  | — |  |  | — |  |  | — |  |  | 1,706 |  |  | — |
Total assets acquired | 42,577 |  |  | 80,169 |  |  | 52,910 |  |  | 14,651 |  |  | 90,109 |  |  | 16,916 |
Total liabilities assumed | (10,066 | ) |  | (14,915 | ) |  | (9,083 | ) |  | (825 | ) |  | (27,262 | ) |  | (2,145 | )
Net assets acquired | $ | 32,511 |  |  | $ | 65,254 |  |  | $ | 43,827 |  |  | $ | 13,826 |  |  | $ | 62,847 |  |  | $ | 14,771 |
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 |  | 445,164 |
Inventories |  | 206,093 |
Other current assets |  | 70,930 |
Property, plant, and equipment |  | 156,885 |
Goodwill |  | 1,256,855 |
Trade names |  | 333,823 |
Customer relationships |  | 255,354 |
Patents |  | 1,201 |
Other noncurrent assets |  | 165,167 |
Total assets acquired |  | 3,069,790 |
Liabilities assumed |  |
Current liabilities |  | 805,728 |
Debt |  | 409,899 |
Other noncurrent liabilities |  | 347,348 |
Total liabilities assumed |  | 1,562,975 |
Net assets acquired |  | $ | 1,506,815 |
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 June 30, 2017 |  | Three Months Ended June 30, 2016 |  | Six Months Ended June 30, 2017 |  | Six Months Ended June 30, 2016
Net sales | $ | 932,467 |  |  | $ | 1,055,212 |  |  | $ | 1,859,619 |  |  | $ | 2,210,418 |
Gross profit | 274,027 |  |  | 325,658 |  |  | 546,492 |  |  | 674,222 |
Net income attributable to Wabtec shareholders | 72,061 |  |  | 107,574 |  |  | 146,971 |  |  | 223,661 |
Diluted earnings per share |  |  |  |  |  |  |
As Reported | $ | 0.75 |  |  | $ | 1.00 |  |  | $ | 1.52 |  |  | $ | 2.02 |
Pro forma | $ | 0.75 |  |  | $ | 1.10 |  |  | $ | 1.53 |  |  | $ | 2.43 |

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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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