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CONSOLIDATED STATEMENTS OF INCOME - USD ($)
shares in Millions, $ in Millions
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Net sales:      
Total net sales $ 8,362 $ 7,822 $ 7,556
Cost of sales:      
Total cost of sales (5,822) (5,453) (5,419)
Gross profit 2,540 2,369 2,137
Operating expenses:      
Selling, general and administrative expenses (1,029) (1,030) (948)
Engineering expenses (209) (176) (162)
Amortization expense (291) (287) (282)
Total operating expenses (1,529) (1,493) (1,392)
Income from operations 1,011 876 745
Other income and expenses:      
Interest expense, net (186) (177) (199)
Other income, net 29 38 11
Income before income taxes 854 737 557
Income tax expense (213) (172) (145)
Net income 641 565 412
Less: Net (income) loss attributable to noncontrolling interest (8) (7) 2
Net income attributable to Wabtec shareholders $ 633 $ 558 $ 414
Basic      
Net income attributable to Wabtec shareholders (in dollars per share) $ 3.46 $ 2.96 $ 2.18
Diluted      
Net income attributable to Wabtec shareholders (in dollars per share) $ 3.46 $ 2.96 $ 2.17
Weighted average shares outstanding      
Basic (in shares) 182.2 187.7 189.9
Diluted (in shares) 182.8 188.1 190.4
Product      
Net sales:      
Total net sales $ 6,459 $ 6,205 $ 6,233
Cost of sales:      
Total cost of sales (4,791) (4,545) (4,629)
Services      
Net sales:      
Total net sales 1,903 1,617 1,323
Cost of sales:      
Total cost of sales $ (1,031) $ (908) $ (790)