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Acquisitions (Tables) | 6 Months Ended
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Jun. 30, 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 | $ | 32,827 |
Property, plant & equipment | 674 |
Goodwill | 38,511 |
Other intangible assets | 11,715 |
Total assets acquired | 83,727 |
Total liabilities assumed | (55,064 | )
Net assets acquired | $ | 28,663 |
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 |  | 525,966 |
Inventories |  | 1,185,574 |
Other current assets |  | 64,115 |
Property, plant, and equipment |  | 1,086,245 |
Goodwill |  | 5,758,264 |
Trade names |  | 50,000 |
Customer relationships |  | 550,000 |
Intellectual property |  | 1,210,000 |
Backlog |  | 1,530,000 |
Other noncurrent assets |  | 211,081 |
Total assets acquired |  | 12,345,579 |
Liabilities assumed |  |
Current liabilities |  | 1,514,189 |
Contingent consideration |  | 440,000 |
Other noncurrent liabilities |  | 522,465 |
Total liabilities assumed |  | 2,476,654 |
Net assets acquired |  | 9,868,925 |
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 June 30, 2019 |  | Three Months Ended June 30, 2018 |  | Six Months Ended June 30, 2019 |  | Six Months Ended June 30, 2018
Net sales | $ | 2,236,284 |  |  | $ | 2,023,848 |  |  | $ | 4,316,055 |  |  | $ | 3,905,572 |
Gross profit | 703,676 |  |  | 634,868 |  |  | 1,247,156 |  |  | 1,019,549 |
Net income attributable to Wabtec shareholders | 171,875 |  |  | 151,475 |  |  | 255,152 |  |  | 99,206 |
Diluted earnings per share |  |  |  |  |  |  |
As Reported | $ | 0.54 |  |  | $ | 0.87 |  |  | $ | 0.61 |  |  | $ | 1.79 |
Pro forma | $ | 0.90 |  |  | $ | 0.79 |  |  | $ | 1.34 |  |  | $ | 0.52 |

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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=116869197&loc=d3e4845-128472 + Details
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