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ACQUISITIONS (Tables) | 12 Months Ended
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Dec. 31, 2018
Business Combinations [Abstract] |
Summary of Fair Value of Assets Acquired and Liabilities Assumed | The following table summarizes the final fair values of the assets acquired and liabilities assumed at the date of the acquisitions.
|  | Melett |  | TTC |  | ATP
|  | December 4, 2017 |  | April 5, 2017 |  | March 13, 2017
In thousands |  |  |
Current assets, net of cash acquired |  | $ | 34,491 |  |  | $ | 3,744 |  |  | $ | 11,666 |
Property, plant & equipment |  | 5,917 |  |  | 5,413 |  |  | 5,354 |
Goodwill |  | 26,653 |  |  | 14,095 |  |  | 29,034 |
Other intangible assets |  | 28,590 |  |  | 12,300 |  |  | 25,000 |
Total assets acquired |  | 95,651 |  |  | 35,552 |  |  | 71,054 |
Total liabilities assumed |  | (23,758 | ) |  | (3,041 | ) |  | (5,800 | )
Net assets acquired |  | $ | 71,893 |  |  | $ | 32,511 |  |  | $ | 65,254 |
For the AM General acquisition, the following table summarizes the final fair value of the assets acquired and liabilities assumed at the date of the acquisition.
|  | Annax |  | AM General
|  | March 22, 2018 |  | October 2, 2017
In thousands |  |
Current assets, net of cash acquired |  | $ | 34,036 |  |  | $ | 6,805 |
Property, plant & equipment |  | 674 |  |  | 4,140 |
Goodwill |  | 25,471 |  |  | 6,114 |
Other intangible assets |  | 12,828 |  |  | 19,427 |
Total assets acquired |  | 73,009 |  |  | 36,486 |
Total liabilities assumed |  | (44,345 | ) |  | (26,070 | )
Net assets acquired |  | $ | 28,664 |  |  | $ | 10,416 |
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, 2017:
|  | For the year ended December 31,
In thousands |  | 2018 |  | 2017
Net sales |  | $ | 4,376,972 |  |  | $ | 3,994,515 |
Gross profit |  | 1,235,821 |  |  | 1,099,878 |
Net income attributable to Wabtec shareholders |  | 292,207 |  |  | 273,301 |
Diluted earnings per share |  |  |  |  |
As Reported |  | $ | 3.05 |  |  | $ | 2.72 |
Pro forma |  | $ | 3.06 |  |  | $ | 2.84 |

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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://fasb.org/us-gaap/role/ref/legacyRef -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
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