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Acquisitions (Tables) | 3 Months Ended
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Mar. 31, 2019
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 final fair values of the assets acquired and liabilities assumed at the date of the acquisition for Annax.
| Annax
In thousands | March 22, 2018
Current assets | $ | 32,831 |
Property, plant & equipment | 674 |
Goodwill | 27,188 |
Other intangible assets | 11,715 |
Total assets acquired | 72,408 |
Total liabilities assumed | (43,741 | )
Net assets acquired | $ | 28,667 |
The following table summarizes the preliminary fair values of the GET assets acquired and liabilities assumed:
In thousands |  |
Assets acquired |  |
Cash and cash equivalents |  | $ | 174,334 |
Accounts receivable |  | 530,054 |
Inventories |  | 1,179,439 |
Other current assets |  | 64,464 |
Property, plant, and equipment |  | 1,071,402 |
Goodwill |  | 5,783,358 |
Trade names |  | 50,000 |
Customer relationships |  | 529,984 |
Intellectual property |  | 1,219,968 |
Backlog |  | 1,480,000 |
Other noncurrent assets |  | 234,823 |
Total assets acquired |  | 12,317,826 |
Liabilities assumed |  |
Current liabilities |  | 1,495,438 |
Contingent consideration |  | 440,000 |
Other noncurrent liabilities |  | 523,801 |
Total liabilities assumed |  | 2,459,239 |
Net assets acquired |  | 9,858,587 |
Noncontrolling interest |  | $ | 86,765 |
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, 2018:
In thousands | Three Months Ended March 31, 2019 |  | Three Months Ended March 31, 2018
Net sales | $ | 2,079,771 |  |  | $ | 1,881,724 |
Gross profit | 543,480 |  |  | 553,681 |
Net income attributable to Wabtec shareholders | 83,277 |  |  | 77,275 |
Diluted earnings per share |  |  |
As Reported | $ | (0.04 | ) |  | $ | 0.92 |
Pro forma | $ | 0.44 |  |  | $ | 0.41 |

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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/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 + 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://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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