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CONDENSED CONSOLIDATED STATEMENTS OF INCOME - USD ($)
shares in Millions, $ in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Sep. 30, 2022
Sep. 30, 2021
Net sales:        
Total net sales $ 2,081.0 $ 1,907.0 $ 6,056.0 $ 5,749.0
Cost of sales:        
Total cost of sales (1,433.0) (1,304.0) (4,168.0) (4,032.0)
Gross profit 648.0 603.0 1,888.0 1,717.0
Operating expenses:        
Selling, general and administrative expenses (260.0) (269.0) (757.0) (766.0)
Engineering expenses (54.0) (44.0) (149.0) (124.0)
Amortization expense (73.0) (73.0) (218.0) (215.0)
Total operating expenses (387.0) (386.0) (1,124.0) (1,105.0)
Income from operations 261.0 217.0 764.0 612.0
Other income and expenses:        
Interest expense, net (48.0) (42.0) (135.0) (135.0)
Other income, net 4.0 0.0 15.0 25.0
Income before income taxes 217.0 175.0 644.0 502.0
Income tax expense (54.0) (43.0) (162.0) (130.0)
Net income 163.0 132.0 482.0 372.0
Less: Net income attributable to noncontrolling interest (3.0) (1.0) (7.0) (4.0)
Less: Net income attributable to noncontrolling interest $ 160.0 $ 131.0 $ 475.0 $ 368.0
Basic        
Net income attributable to Wabtec shareholders (in dollars per share) $ 0.88 $ 0.69 $ 2.60 $ 1.95
Diluted        
Net income attributable to Wabtec shareholders (in dollars per share) $ 0.88 $ 0.69 $ 2.59 $ 1.95
Weighted average shares outstanding        
Basic (in shares) 181.3 187.6 182.6 188.2
Diluted (in shares) 181.9 188.0 183.1 188.6
Goods        
Net sales:        
Total net sales $ 1,625.0 $ 1,489.0 $ 4,714.0 $ 4,562.0
Cost of sales:        
Total cost of sales (1,200.0) (1,075.0) (3,431.0) (3,368.0)
Services        
Net sales:        
Total net sales 456.0 418.0 1,342.0 1,187.0
Cost of sales:        
Total cost of sales $ (233.0) $ (229.0) $ (737.0) $ (664.0)