Acquisitions (Tables)

3 Months Ended

Mar. 31, 2019

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