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ACQUISITIONS (Tables)

12 Months Ended

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

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/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 805
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (h)(2)
-URI http://asc.fasb.org/extlink&oid=79982066&loc=d3e1392-128463

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 805
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (h)(3)
-URI http://asc.fasb.org/extlink&oid=79982066&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://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

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