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ACQUISITIONS (Tables) | 12 Months Ended
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Dec. 31, 2020
Business Combinations [Abstract] |
Summary of Fair Value of Assets Acquired and Liabilities Assumed | The following table summarizes the final fair value of the GE Transportation assets acquired and liabilities assumed:
In millions |  |
Assets acquired |  |
Cash and cash equivalents |  | $ | 177.2 |
Accounts receivable |  | 541.3 |
Inventories |  | 1,189.7 |
Other current assets |  | 71.5 |
Property, plant, and equipment |  | 1,088.6 |
Goodwill |  | 5,983.5 |
Trade names |  | 55.0 |
Customer relationships |  | 550.0 |
Intellectual property |  | 1,180.0 |
Backlog |  | 1,450.0 |
Other noncurrent assets |  | 321.2 |
Total assets acquired |  | 12,608.0 |
Liabilities assumed |  |
Current liabilities |  | 1,594.2 |
Contingent consideration |  | 440.0 |
Other noncurrent liabilities |  | 666.5 |
Total liabilities assumed |  | 2,700.7 |
Net assets acquired |  | 9,907.3 |
Noncontrolling interest |  | $ | 88.3 |
Pro Forma Financial Information | The following unaudited pro forma consolidated financial information presents income statement results as if the GE Transportation acquisition had occurred January 1, 2019:
In millions, except per share data |  | Twelve Months Ended December 31, 2019
Net sales |  | $ | 8,675.6 |
Gross profit |  | 2,343.3 |
Net income attributable to Wabtec shareholders |  | 277.2 |
Diluted earnings per share |  |
As Reported |  | $ | 1.84 |
Pro forma |  | $ | 1.45 |

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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=121647850&loc=d3e4845-128472 + Details
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