XML 177 R115.htm IDEA: XBRL DOCUMENT
v3.10.0.1

GUARANTOR SUBSIDIARIES FINANCIAL INFORMATION - Condensed Income Statement (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended
--- | --- | ---
Dec. 31, 2017 | Sep. 30, 2017 | Jun. 30, 2017 | Mar. 31, 2017 | Dec. 31, 2016 | Sep. 30, 2016 | Jun. 30, 2016 | Mar. 31, 2016 | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015
Condensed Financial Statements, Captions [Line Items] |  |  |  |  |  |  |  |  |  |  |
Net sales | $ 1,075,538 | $ 957,931 | $ 932,253 | $ 916,034 | $ 759,982 | $ 675,574 | $ 723,601 | $ 772,031 | $ 3,881,756 | $ 2,931,188 | $ 3,307,998
Cost of sales |  |  |  |  |  |  |  |  | (2,816,443) | (2,006,949) | (2,260,182)
Gross profit | 268,440 | 253,203 | 273,963 | 269,707 | 219,189 | 212,481 | 237,389 | 255,180 | 1,065,313 | 924,239 | 1,047,816
Total operating expenses |  |  |  |  |  |  |  |  | (643,580) | (465,878) | (440,249)
Income from operations | 91,163 | 102,011 | 113,701 | 114,858 | 62,800 | 120,096 | 133,284 | 142,181 | 421,733 | 458,361 | 607,567
Interest expense, net |  |  |  |  |  |  |  |  | (68,704) | (42,561) | (16,888)
Other (expense) income, net |  |  |  |  |  |  |  |  | (966) | (2,963) | (5,311)
Equity earnings (loss) |  |  |  |  |  |  |  |  | 0 | 0 | 0
Income from operations before income taxes |  |  |  |  |  |  |  |  | 352,063 | 412,837 | 585,368
Income tax expense |  |  |  |  |  |  |  |  | (89,773) | (99,433) | (186,740)
Net income |  |  |  |  |  |  |  |  | 262,290 | 313,404 | 398,628
Less: Net income attributable to noncontrolling interest |  |  |  |  |  |  |  |  | (29) | (8,517) | 0
Net income attributable to Wabtec shareholders | $ 48,948 | $ 67,399 | $ 72,025 | $ 73,889 | $ 46,328 | $ 82,428 | $ 90,485 | $ 94,163 | 262,261 | 304,887 | 398,628
Comprehensive income attributable to Wabtec shareholders |  |  |  |  |  |  |  |  | 596,874 | 202,001 | 281,395
Elimination |  |  |  |  |  |  |  |  |  |  |
Condensed Financial Statements, Captions [Line Items] |  |  |  |  |  |  |  |  |  |  |
Net sales |  |  |  |  |  |  |  |  | (142,412) | (145,559) | (172,776)
Cost of sales |  |  |  |  |  |  |  |  | 108,384 | 103,421 | 90,989
Gross profit |  |  |  |  |  |  |  |  | (34,028) | (42,138) | (81,787)
Total operating expenses |  |  |  |  |  |  |  |  | 0 | 0 | 0
Income from operations |  |  |  |  |  |  |  |  | (34,028) | (42,138) | (81,787)
Interest expense, net |  |  |  |  |  |  |  |  | 0 | 0 | 0
Other (expense) income, net |  |  |  |  |  |  |  |  | 0 | 0 | 0
Equity earnings (loss) |  |  |  |  |  |  |  |  | (547,688) | (453,884) | (619,189)
Income from operations before income taxes |  |  |  |  |  |  |  |  | (581,716) | (496,022) | (700,976)
Income tax expense |  |  |  |  |  |  |  |  | 0 | 0 | 0
Net income |  |  |  |  |  |  |  |  | (581,716) | (496,022) | (700,976)
Less: Net income attributable to noncontrolling interest |  |  |  |  |  |  |  |  | 0 | 0 | 0
Net income attributable to Wabtec shareholders |  |  |  |  |  |  |  |  | (581,716) | (496,022) | (700,976)
Comprehensive income attributable to Wabtec shareholders |  |  |  |  |  |  |  |  | (581,716) | (496,022) | (700,976)
Parent |  |  |  |  |  |  |  |  |  |  |
Condensed Financial Statements, Captions [Line Items] |  |  |  |  |  |  |  |  |  |  |
Net sales |  |  |  |  |  |  |  |  | 577,397 | 641,809 | 743,262
Cost of sales |  |  |  |  |  |  |  |  | (440,911) | (473,700) | (531,269)
Gross profit |  |  |  |  |  |  |  |  | 136,486 | 168,109 | 211,993
Total operating expenses |  |  |  |  |  |  |  |  | (113,872) | (141,940) | (142,953)
Income from operations |  |  |  |  |  |  |  |  | 22,614 | 26,169 | 69,040
Interest expense, net |  |  |  |  |  |  |  |  | (72,233) | (34,975) | (23,129)
Other (expense) income, net |  |  |  |  |  |  |  |  | 5,103 | 20,509 | 23,193
Equity earnings (loss) |  |  |  |  |  |  |  |  | 416,068 | 322,650 | 506,903
Income from operations before income taxes |  |  |  |  |  |  |  |  | 371,552 | 334,353 | 576,007
Income tax expense |  |  |  |  |  |  |  |  | (109,294) | (29,466) | (177,379)
Net income |  |  |  |  |  |  |  |  | 262,258 | 304,887 | 398,628
Less: Net income attributable to noncontrolling interest |  |  |  |  |  |  |  |  | 0 | 0 | 0
Net income attributable to Wabtec shareholders |  |  |  |  |  |  |  |  | 262,258 | 304,887 | 398,628
Comprehensive income attributable to Wabtec shareholders |  |  |  |  |  |  |  |  | 263,907 | 305,180 | 409,734
Guarantors |  |  |  |  |  |  |  |  |  |  |
Condensed Financial Statements, Captions [Line Items] |  |  |  |  |  |  |  |  |  |  |
Net sales |  |  |  |  |  |  |  |  | 1,067,954 | 1,112,001 | 1,436,935
Cost of sales |  |  |  |  |  |  |  |  | (675,546) | (708,062) | (843,104)
Gross profit |  |  |  |  |  |  |  |  | 392,408 | 403,939 | 593,831
Total operating expenses |  |  |  |  |  |  |  |  | (123,423) | (122,617) | (131,251)
Income from operations |  |  |  |  |  |  |  |  | 268,985 | 281,322 | 462,580
Interest expense, net |  |  |  |  |  |  |  |  | 8,843 | 7,012 | 5,914
Other (expense) income, net |  |  |  |  |  |  |  |  | 289 | (2,284) | (9,140)
Equity earnings (loss) |  |  |  |  |  |  |  |  | 131,620 | 131,234 | 112,286
Income from operations before income taxes |  |  |  |  |  |  |  |  | 409,737 | 417,284 | 571,640
Income tax expense |  |  |  |  |  |  |  |  | 32,393 | (57,667) | 8,989
Net income |  |  |  |  |  |  |  |  | 442,130 | 359,617 | 580,629
Less: Net income attributable to noncontrolling interest |  |  |  |  |  |  |  |  | 386 | 0 | 0
Net income attributable to Wabtec shareholders |  |  |  |  |  |  |  |  | 442,516 | 359,617 | 580,629
Comprehensive income attributable to Wabtec shareholders |  |  |  |  |  |  |  |  | 442,516 | 359,617 | 580,629
Non-Guarantors |  |  |  |  |  |  |  |  |  |  |
Condensed Financial Statements, Captions [Line Items] |  |  |  |  |  |  |  |  |  |  |
Net sales |  |  |  |  |  |  |  |  | 2,378,817 | 1,322,937 | 1,300,577
Cost of sales |  |  |  |  |  |  |  |  | (1,808,370) | (928,608) | (976,798)
Gross profit |  |  |  |  |  |  |  |  | 570,447 | 394,329 | 323,779
Total operating expenses |  |  |  |  |  |  |  |  | (406,285) | (201,321) | (166,045)
Income from operations |  |  |  |  |  |  |  |  | 164,162 | 193,008 | 157,734
Interest expense, net |  |  |  |  |  |  |  |  | (5,314) | (14,598) | 327
Other (expense) income, net |  |  |  |  |  |  |  |  | (6,358) | (21,188) | (19,364)
Equity earnings (loss) |  |  |  |  |  |  |  |  | 0 | 0 | 0
Income from operations before income taxes |  |  |  |  |  |  |  |  | 152,490 | 157,222 | 138,697
Income tax expense |  |  |  |  |  |  |  |  | (12,872) | (12,300) | (18,350)
Net income |  |  |  |  |  |  |  |  | 139,618 | 144,922 | 120,347
Less: Net income attributable to noncontrolling interest |  |  |  |  |  |  |  |  | (415) | (8,517) | 0
Net income attributable to Wabtec shareholders |  |  |  |  |  |  |  |  | 139,203 | 136,405 | 120,347
Comprehensive income attributable to Wabtec shareholders |  |  |  |  |  |  |  |  | $ 472,167 | $ 33,226 | $ (7,992)

X
- Definition Amount after tax of increase (decrease) in equity from transactions and other events and circumstances from net income and other comprehensive income, attributable to parent entity. Excludes changes in equity resulting from investments by owners and distributions to owners. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 220 -SubTopic 10 -Section 45 -Paragraph 5 -URI http://asc.fasb.org/extlink&oid=84228862&loc=d3e557-108580 + Details
Name: | us-gaap_ComprehensiveIncomeNetOfTax
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | duration

X
- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. + References No definition available. + Details
Name: | us-gaap_CondensedFinancialStatementsCaptionsLineItems
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The aggregate costs related to goods produced and sold and services rendered by an entity during the reporting period. This excludes costs incurred during the reporting period related to financial services rendered and other revenue generating activities. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 225 -SubTopic 10 -Section S99 -Paragraph 2 -Subparagraph (SX 210.5-03.2(a),(d)) -URI http://asc.fasb.org/extlink&oid=63488584&loc=d3e20235-122688 + Details
Name: | us-gaap_CostOfGoodsAndServicesSold
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | debit
Period Type: | duration

X
- Definition Aggregate revenue less cost of goods and services sold or operating expenses directly attributable to the revenue generation activity. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 225 -SubTopic 10 -Section S99 -Paragraph 2 -Subparagraph (SX 210.5-03.1,2) -URI http://asc.fasb.org/extlink&oid=63488584&loc=d3e20235-122688 + Details
Name: | us-gaap_GrossProfit
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | duration

X
- Definition Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 940 -SubTopic 20 -Section 25 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=68072869&loc=d3e41242-110953 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 225 -SubTopic 10 -Section S99 -Paragraph 2 -Subparagraph (SX 210.5-03(10)) -URI http://asc.fasb.org/extlink&oid=63488584&loc=d3e20235-122688 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 225 -Section S99 -Paragraph 1 -Subparagraph (SX 210.9-04(15)) -URI http://asc.fasb.org/extlink&oid=6879574&loc=d3e536633-122882 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 944 -SubTopic 225 -Section S99 -Paragraph 1 -Subparagraph (SX 210.7-04(8)) -URI http://asc.fasb.org/extlink&oid=6879464&loc=d3e573970-122913 + Details
Name: | us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | duration

X
- Definition Amount after tax of income (loss) of subsidiary attributable to the parent entity. + References No definition available. + Details
Name: | us-gaap_IncomeLossFromSubsidiariesNetOfTax
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | duration

X
- Definition Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 9 -Subparagraph (a),(b) -URI http://asc.fasb.org/extlink&oid=84230637&loc=d3e32639-109319 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08.(h)) -URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690 + Details
Name: | us-gaap_IncomeTaxExpenseBenefit
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | debit
Period Type: | duration

X
- Definition The net amount of operating interest income (expense). + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 225 -Section S99 -Paragraph 1 -Subparagraph (SX 210.9-04.10) -URI http://asc.fasb.org/extlink&oid=6879574&loc=d3e536633-122882 + Details
Name: | us-gaap_InterestIncomeExpenseNet
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | duration

X
- Definition The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 230 -SubTopic 10 -Section 45 -Paragraph 28 -URI http://asc.fasb.org/extlink&oid=98514028&loc=d3e3602-108585 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3550-109257 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 225 -Section S99 -Paragraph 1 -Subparagraph (SX 210.9-04(22)) -URI http://asc.fasb.org/extlink&oid=6879574&loc=d3e536633-122882 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 944 -SubTopic 225 -Section S99 -Paragraph 1 -Subparagraph (SX 210.7-04(18)) -URI http://asc.fasb.org/extlink&oid=6879464&loc=d3e573970-122913 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 225 -SubTopic 10 -Section S99 -Paragraph 2 -Subparagraph (SX 210.5-03(20)) -URI http://asc.fasb.org/extlink&oid=63488584&loc=d3e20235-122688 + Details
Name: | us-gaap_NetIncomeLoss
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | duration

X
- Definition Amount of Net Income (Loss) attributable to noncontrolling interest. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 810 -SubTopic 10 -Section 55 -Paragraph 4J -URI http://asc.fasb.org/extlink&oid=84234705&loc=SL4591551-111686 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 810 -SubTopic 10 -Section 50 -Paragraph 1A -Subparagraph (a)(2) -URI http://asc.fasb.org/extlink&oid=84161450&loc=SL4573702-111684 + Details
Name: | us-gaap_NetIncomeLossAttributableToNoncontrollingInterest
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | debit
Period Type: | duration

X
- Definition The aggregate amount of income or expense from ancillary business-related activities (that is to say, excluding major activities considered part of the normal operations of the business). + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 225 -SubTopic 10 -Section S99 -Paragraph 2 -Subparagraph (SX 210.5-03.7) -URI http://asc.fasb.org/extlink&oid=63488584&loc=d3e20235-122688 + Details
Name: | us-gaap_NonoperatingIncomeExpense
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | duration

X
- Definition Generally recurring costs associated with normal operations except for the portion of these expenses which can be clearly related to production and included in cost of sales or services. Includes selling, general and administrative expense. + References No definition available. + Details
Name: | us-gaap_OperatingExpenses
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | debit
Period Type: | duration

X
- Definition The net result for the period of deducting operating expenses from operating revenues. + References No definition available. + Details
Name: | us-gaap_OperatingIncomeLoss
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | duration

X
- Definition The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 810 -SubTopic 10 -Section 55 -Paragraph 4K -URI http://asc.fasb.org/extlink&oid=84234705&loc=SL4591552-111686 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 810 -SubTopic 10 -Section 45 -Paragraph 19 -URI http://asc.fasb.org/extlink&oid=96868048&loc=SL4569616-111683 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 810 -SubTopic 10 -Section 50 -Paragraph 1A -Subparagraph (c)(1) -URI http://asc.fasb.org/extlink&oid=84161450&loc=SL4573702-111684 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 810 -SubTopic 10 -Section 55 -Paragraph 4J -URI http://asc.fasb.org/extlink&oid=84234705&loc=SL4591551-111686 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 810 -SubTopic 10 -Section 50 -Paragraph 1A -Subparagraph (a)(2) -URI http://asc.fasb.org/extlink&oid=84161450&loc=SL4573702-111684 + Details
Name: | us-gaap_ProfitLoss
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | duration

X
- Definition Total revenue from sale of goods and services rendered during the reporting period, in the normal course of business, reduced by sales returns and allowances, and sales discounts. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 225 -SubTopic 10 -Section S99 -Paragraph 2 -Subparagraph (SX 210.5-03.1) -URI http://asc.fasb.org/extlink&oid=63488584&loc=d3e20235-122688 + Details
Name: | us-gaap_SalesRevenueNet
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | duration

X
- Details
Name: | us-gaap_ConsolidationItemsAxis=us-gaap_ConsolidationEliminationsMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_ConsolidatedEntitiesAxis=us-gaap_ParentCompanyMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_ConsolidatedEntitiesAxis=us-gaap_GuarantorSubsidiariesMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_ConsolidatedEntitiesAxis=us-gaap_NonGuarantorSubsidiariesMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |