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CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Millions
Mar. 31, 2023
Dec. 31, 2022
Assets    
Cash, cash equivalents and restricted cash $ 417 $ 541
Accounts receivable 956 975
Unbilled accounts receivable 620 544
Inventories, net 2,228 2,034
Other current assets 275 233
Total current assets 4,496 4,327
Property, plant and equipment, net 1,422 1,429
Goodwill 8,540 8,508
Other intangible assets, net 3,333 3,402
Other noncurrent assets 878 850
Total noncurrent assets 14,173 14,189
Total Assets 18,669 18,516
Liabilities    
Accounts payable 1,353 1,301
Customer deposits 697 772
Accrued compensation 295 300
Accrued warranty 222 215
Current portion of long-term debt 975 251
Other accrued liabilities 623 628
Total current liabilities 4,165 3,467
Long-term debt 3,189 3,751
Accrued postretirement and pension benefits 58 57
Deferred income taxes 333 326
Contingent consideration 48 47
Other long-term liabilities 742 721
Total Liabilities 8,535 8,369
Commitments and contingencies (Note 14)
Equity    
Common stock, $.01 par value; 500.0 shares authorized and 226.9 shares issued: 179.8 and 181.2 outstanding at March 31, 2023 and December 31, 2022, respectively 2 2
Additional paid-in capital 7,940 7,953
Treasury stock, at cost, 47.1 and 45.7 shares, at March 31, 2023 and December 31, 2022, respectively (1,941) (1,769)
Retained earnings 4,715 4,577
Accumulated other comprehensive loss (631) (661)
Total Westinghouse Air Brake Technologies Corporation shareholders’ equity 10,085 10,102
Noncontrolling interest 49 45
Total Equity 10,134 10,147
Total Liabilities and Equity $ 18,669 $ 18,516