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Earnings Per Share (Q3)
 9 Months Ended 12 Months Ended
Sep. 30, 2018
Dec. 31, 2017
Earnings Per Share [Abstract]    
Earnings Per Share
12. 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 thousands, except per share data
 
2018
  
2017
 
Numerator
      
Numerator for basic and diluted earnings per common
   share - net income attributable
      
to Wabtec shareholders
 
$
87,739
  
$
67,399
 
Less: dividends declared - common shares
   and non-vested restricted stock
  
(11,586
)
  
(11,518
)
Undistributed earnings
  
76,153
   
55,881
 
Percentage allocated to common shareholders (1)
  
99.7
%
  
99.7
%
 
  
75,925
   
55,713
 
Add: dividends declared - common shares
  
11,552
   
11,485
 
Numerator for basic and diluted earnings per
   common share
 
$
87,477
  
$
67,198
 
Denominator
        
Denominator for basic earnings per common
   share - weighted average shares
  
96,208
   
95,709
 
Effect of dilutive securities:
        
Assumed conversion of dilutive stock-based
   compensation plans
  
429
   
607
 
Denominator for diluted earnings per common share -
        
adjusted weighted average shares and assumed conversion
  
96,637
   
96,316
 
Net income attributable to Wabtec
      shareholders per common share
        
Basic
 
$
0.91
  
$
0.70
 
Diluted
 
$
0.91
  
$
0.70
 
 
     
(1) Basic weighted-average common shares outstanding
  
96,208
   
95,709
 
Basic weighted-average common shares outstanding and
   non-vested restricted stock expected to vest
  
96,495
   
95,983
 
Percentage allocated to common shareholders
  
99.7
%
  
99.7
%
 
     
 
 
Nine Months Ended September 30,
 
In thousands, except per share data
 
2018
  
2017
 
Numerator
      
Numerator for basic and diluted earnings per common
   share - net income attributable
      
to Wabtec shareholders
 
$
260,521
  
$
213,313
 
Less: dividends declared - common shares
   and non-vested restricted stock
  
(34,682
)
  
(30,693
)
Undistributed earnings
  
225,839
   
182,620
 
Percentage allocated to common shareholders (1)
  
99.7
%
  
99.4
%
 
  
225,161
   
181,524
 
Add: dividends declared - common shares
  
34,579
   
30,508
 
Numerator for basic and diluted earnings per
   common share
 
$
259,740
  
$
212,032
 
Denominator
        
Denominator for basic earnings per common
   share - weighted average shares
  
95,935
   
95,163
 
Effect of dilutive securities:
        
Assumed conversion of dilutive stock-based
   compensation plans
  
501
   
645
 
Denominator for diluted earnings per common share -
        
adjusted weighted average shares and assumed conversion
  
96,436
   
95,808
 
Net income attributable to Wabtec
      shareholders per common share
        
Basic
 
$
2.71
  
$
2.23
 
Diluted
 
$
2.70
  
$
2.22
 
 
     
(1) Basic weighted-average common shares outstanding
  
95,935
   
95,163
 
Basic weighted-average common shares outstanding and
   non-vested restricted stock expected to vest
  
96,221
   
95,740
 
Percentage allocated to common shareholders
  
99.7
%
  
99.4
%
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.
11.   EARNINGS PER SHARE
 
The computation of earnings per share from operations is as follows:
 
  
For the Year Ended
December 31,
 
In thousands, except per share data
 
2017
  
2016
  
2015
 
Numerator
         
Numerator for basic and diluted earnings per common share - net income attributable to Wabtec shareholders          
 
$
262,261
  
$
304,887
  
$
398,628
 
Less: dividends declared - common shares and non-vested restricted stock
  
(42,218
)
  
(32,430
)
  
(26,963
)
Undistributed earnings          
  
220,043
   
272,457
   
371,665
 
Percentage allocated to common shareholders (1)          
  
99.7
%
  
99.7
%
  
99.7
%
   
219,383
   
271,640
   
370,550
 
Add: dividends declared - common shares          
  
42,092
   
32,333
   
26,875
 
Numerator for basic and diluted earnings per common share
 
$
261,475
  
$
303,973
  
$
397,425
 
Denominator          
            
Denominator for basic earnings per common share - weighted average shares
  
95,453
   
90,359
   
96,074
 
Effect of dilutive securities:
            
Assumed conversion of dilutive stock-based compensation plans
  
672
   
782
   
932
 
Denominator for diluted earnings per common share - adjusted weighted average shares and assumed conversion          
  
96,125
   
91,141
   
97,006
 
Net income per common share attributable to Wabtec shareholders
            
Basic          
 
$
2.74
  
$
3.37
  
$
4.14
 
Diluted          
 
$
2.72
  
$
3.34
  
$
4.10
 
             
(1) Basic weighted-average common shares outstanding
  
95,453
   
90,359
   
96,074
 
Basic weighted-average common shares outstanding and non-vested restricted stock expected to vest          
  
95,740
   
90,627
   
96,388
 
Percentage allocated to common shareholders          
  
99.7
%
  
99.7
%
  
99.7
%
  
Options to purchase approximately 24,000, 20,000, and 13,000 shares of Common Stock were outstanding in 2017, 2016 and 2015, respectively, but were not included in the computation of diluted earnings because their impact would have been antidilutive.