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Earnings Per Share
 9 Months Ended
Sep. 30, 2019
Earnings Per Share [Abstract]  
Earnings Per Share EARNINGS PER SHARE
The computation of basic and diluted earnings per share for net income attributable to Wabtec shareholders is as follows:
 
Three Months Ended
September 30,
In millions, except per share data
2019
 
2018
Numerator
 
 
 
Numerator for basic and diluted earnings per common share - net income
   attributable to Wabtec shareholders
$
91.1

 
$
87.7

Less: dividends declared - common shares
   and non-vested restricted stock
(23.0
)
 
(11.6
)
Undistributed earnings
68.1

 
76.2

Percentage allocated to common shareholders (1)
99.7
%
 
99.7
%
 
67.9

 
75.9

Add: dividends declared - common shares
23.0

 
11.6

Less: dividends declared - preferred shares
—

 
—

Numerator for basic earnings per
   common share
$
90.9

 
$
87.5

Add: dividends declared - preferred shares
—

 
—

Numerator for diluted earnings per
   common share
90.9

 
87.5

Denominator

 

Denominator for basic earnings per common
   share - weighted average shares
189.6

 
96.2

Effect of dilutive securities:
 
 
 
Assumed conversion of preferred shares
1.5

 
—

Assumed conversion of dilutive stock-based
   compensation plans
0.4

 
0.4

Denominator for diluted earnings per common share -

 

adjusted weighted average shares and assumed conversion
191.5

 
96.6

Net income attributable to Wabtec
      shareholders per common share

 

Basic
$
0.48

 
$
0.91

Diluted
$
0.48

 
$
0.91

(1) Basic weighted-average common shares outstanding
189.6

 
96.2

Basic weighted-average common shares outstanding and
   non-vested restricted stock expected to vest
190.1

 
96.5

Percentage allocated to common shareholders
99.7
%
 
99.7
%





 
Nine Months Ended
September 30,
In millions, except per share data
2019
 
2018
Numerator
 
 
 
Numerator for basic and diluted earnings per common share - net income
   attributable to Wabtec shareholders
$
191.0

 
$
260.6

Less: dividends declared - common shares
   and non-vested restricted stock
(57.3
)
 
(34.8
)
Undistributed earnings
133.7

 
225.8

Percentage allocated to common shareholders (1)
99.7
%
 
99.7
%
 
133.3

 
225.1

Add: dividends declared - common shares
57.2

 
34.6

Less: dividends declared - preferred shares
(0.4
)
 
—

Numerator for basic earnings per
   common share
$
190.1

 
$
259.7

Add: dividends declared - preferred shares
0.4

 
—

Numerator for diluted earnings per
   common share
190.5

 
259.7

Denominator

 

Denominator for basic earnings per common
   share - weighted average shares
163.2

 
95.9

Effect of dilutive securities:
 
 
 
Assumed conversion of preferred shares
8.6

 
—

Assumed conversion of dilutive stock-based
   compensation plans
0.4

 
0.5

Denominator for diluted earnings per common share -

 

adjusted weighted average shares and assumed conversion
172.2

 
96.4

Net income attributable to Wabtec
      shareholders per common share

 

Basic
$
1.17

 
$
2.71

Diluted
$
1.11

 
$
2.70

(1) Basic weighted-average common shares outstanding
163.2

 
95.9

Basic weighted-average common shares outstanding and
   non-vested restricted stock expected to vest
163.7

 
96.2

Percentage allocated to common shareholders
99.7
%
 
99.7
%

The Company’s non-vested restricted stock contains rights to receive nonforfeitable dividends, and thus are participating securities requiring the two-class method of computing earnings per share. The calculation of earnings per share for common stock shown above excludes the income attributable to the non-vested restricted stock from the numerator and excludes the dilutive impact of those shares from the denominator.