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ACQUISITIONS (Tables) | 12 Months Ended
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Dec. 31, 2019
Business Combinations [Abstract] |
Summary of Fair Value of Assets Acquired and Liabilities Assumed | The following table summarizes the preliminary fair value of the GE Transportation assets acquired and liabilities assumed:
In millions |  |
Assets acquired |  |
Cash and cash equivalents |  | $ | 177.6 |
Accounts receivable |  | 515.5 |
Inventories |  | 1,189.2 |
Other current assets |  | 71.5 |
Property, plant, and equipment |  | 1,089.6 |
Goodwill |  | 5,987.5 |
Trade names |  | 55.0 |
Customer relationships |  | 550.0 |
Intellectual property |  | 1,180.0 |
Backlog |  | 1,440.0 |
Other noncurrent assets |  | 330.3 |
Total assets acquired |  | 12,586.2 |
Liabilities assumed |  |  |
Current liabilities |  | 1,587.5 |
Contingent consideration |  | 440.0 |
Other noncurrent liabilities |  | 652.9 |
Total liabilities assumed |  | 2,680.4 |
Net assets acquired |  | 9,905.8 |
Noncontrolling interest |  | $ | 86.8 |
The following table summarizes the final estimated fair value of the assets acquired and liabilities assumed at the date of acquisition for Annax:
|  | Annax
|  | March 22, 2018
In millions |  |
Current assets, net of cash acquired |  | $ | 32.8 |
Property, plant & equipment |  | 0.7 |
Goodwill |  | 38.5 |
Other intangible assets |  | 11.7 |
Total assets acquired |  | 83.7 |
Total liabilities assumed |  | (55.1) |
Net assets acquired |  | $ | 28.6 |
Pro Forma Financial Information | The following unaudited pro forma financial information presents income statement results as if the acquisitions listed above had occurred January 1, 2018:
|  | For the year ended December 31, |  |
In millions |  | 2019 |  | 2018
Net sales |  | $ | 8,675.6 |  |  | $ | 8,030.5 |
Gross profit |  | 2,528.3 |  |  | 2,102.8 |
Net income attributable to Wabtec shareholders |  | 485.1 |  |  | 234.8 |
Diluted earnings per share |  |  |  |  |  |
As Reported |  | $ | 1.84 |  |  | $ | 3.05 |
Pro forma |  | $ | 2.53 |  |  | $ | 1.22 |

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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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