XML 97 R35.htm IDEA: XBRL DOCUMENT
v3.10.0.1

ACQUISITIONS (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2017
Business Combinations [Abstract] |
Summary of Fair Value of Assets Acquired and Liabilities Assumed | For the Workhorse, Precision Turbo, and Unitrac acquisitions, the following table summarizes the final fair value of assets acquired and liabilities assumed at the date of acquisition.
|  | Melett |  | TTC |  | ATP |  | Workhorse |  | Precision Turbo |  | Unitrac
|  | December 4, 2017 |  | April 5, 2017 |  | March 13, 2017 |  | December 14, 2016 |  | November 17, 2016 |  | May 5, 2016
In thousands |  |  |  |  |  |
Current assets |  | $ | 21,068 |  |  | $ | 3,746 |  |  | $ | 11,666 |  |  | $ | 9,137 |  |  | $ | 4,145 |  |  | $ | 11,476 |
Property, plant & equipment |  | 5,917 |  |  | 5,909 |  |  | 5,354 |  |  | — |  |  | 1,317 |  |  | 1,768 |
Goodwill |  | 22,501 |  |  | 16,309 |  |  | 29,034 |  |  | 22,273 |  |  | 4,248 |  |  | 2,442 |
Other intangible assets |  | 39,259 |  |  | 12,300 |  |  | 25,000 |  |  | 21,500 |  |  | 5,200 |  |  | 1,230 |
Total assets acquired |  | 88,745 |  |  | 38,264 |  |  | 71,054 |  |  | 52,910 |  |  | 14,910 |  |  | 16,916 |
Total liabilities assumed |  | (14,789 | ) |  | (5,753 | ) |  | (5,800 | ) |  | (9,083 | ) |  | (1,057 | ) |  | (2,145 | )
Net assets acquired |  | $ | 73,956 |  |  | $ | 32,511 |  |  | $ | 65,254 |  |  | $ | 43,827 |  |  | $ | 13,853 |  |  | $ | 14,771 |
For the Gerken acquisition, the following table summarizes the final fair value of the assets acquired and liabilities assumed at the date of the acquisition.
|  | AM General |  | Gerken
|  | October 2, 2017 |  | August 1, 2016
In thousands |  |
Current assets |  | $ | 6,611 |  |  | $ | 32,706 |
Property, plant & equipment |  | 4,140 |  |  | 7,667 |
Goodwill |  | 12,943 |  |  | 17,470 |
Other intangible assets |  | 12,097 |  |  | 30,560 |
Other assets |  | — |  |  | 1,706 |
Total assets acquired |  | 35,791 |  |  | 90,109 |
Total liabilities assumed |  | (25,375 | ) |  | (27,262 | )
Net assets acquired |  | $ | 10,416 |  |  | $ | 62,847 |
The following table summarizes the final fair values of the Faiveley Transport assets acquired and liabilities assumed.
In thousands |  |
Assets acquired |  |
Cash and cash equivalents |  | $ | 178,318 |
Accounts receivable |  | 439,631 |
Inventories |  | 205,649 |
Other current assets |  | 70,930 |
Property, plant, and equipment |  | 148,746 |
Goodwill |  | 1,262,350 |
Trade names |  | 346,328 |
Customer Relationships |  | 233,529 |
Patents |  | 1,201 |
Other noncurrent assets |  | 184,564 |
Total assets acquired |  | 3,071,246 |
Liabilities assumed |  |
Current liabilities |  | 819,493 |
Debt |  | 409,899 |
Other noncurrent liabilities |  | 335,039 |
Total liabilities assumed |  | 1,564,431 |
Net assets acquired |  | $ | 1,506,815 |
Pro Forma Financial Information | The following unaudited pro forma financial information presents income statement results as if the acquisitions listed above had occurred January 1, 2016:
|  | For the year ended December 31,
In thousands |  | 2017 |  | 2016
Net sales |  | $ | 3,946,244 |  |  | $ | 4,212,617 |
Gross profit |  | 1,095,101 |  |  | 1,275,835 |
Net income attributable to Wabtec shareholders |  | 271,783 |  |  | 349,852 |
Diluted earnings per share |  |  |  |  |
As Reported |  | $ | 2.72 |  |  | $ | 3.34 |
Pro forma |  | $ | 2.82 |  |  | $ | 3.83 |

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=79982066&loc=d3e1392-128463 + Details
Name: | us-gaap_BusinessAcquisitionProFormaInformationTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_BusinessCombinationsAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

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=84161108&loc=d3e4845-128472 + Details
Name: | us-gaap_ScheduleOfRecognizedIdentifiedAssetsAcquiredAndLiabilitiesAssumedTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration