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CONDENSED CONSOLIDATED STATEMENTS OF INCOME - USD ($)
shares in Millions, $ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Jun. 30, 2023
Jun. 30, 2022
Net sales:        
Total net sales $ 2,407 $ 2,048 $ 4,601 $ 3,975
Cost of sales:        
Total cost of sales (1,684) (1,403) (3,213) (2,735)
Gross profit 723 645 1,388 1,240
Operating expenses:        
Selling, general and administrative expenses (285) (259) (548) (497)
Engineering expenses (53) (50) (104) (95)
Amortization expense (73) (72) (148) (145)
Total operating expenses (411) (381) (800) (737)
Income from operations 312 264 588 503
Other income and expenses:        
Interest expense, net (55) (44) (103) (87)
Other income, net 2 7 7 11
Income before income taxes 259 227 492 427
Income tax expense (66) (58) (126) (108)
Net income 193 169 366 319
Less: Net income attributable to noncontrolling interest (2) (3) (6) (4)
Net income attributable to Wabtec shareholders $ 191 $ 166 $ 360 $ 315
Basic        
Net income attributable to Wabtec shareholders (in dollars per share) $ 1.06 $ 0.91 $ 2.00 $ 1.71
Diluted        
Net income attributable to Wabtec shareholders (in dollars per share) $ 1.06 $ 0.91 $ 2.00 $ 1.71
Weighted average shares outstanding        
Basic (in shares) 178.9 181.9 179.4 183.2
Diluted (in shares) 179.4 182.4 180.0 183.7
Goods        
Net sales:        
Total net sales $ 1,899 $ 1,584 $ 3,583 $ 3,089
Cost of sales:        
Total cost of sales (1,400) (1,147) (2,657) (2,231)
Services        
Net sales:        
Total net sales 508 464 1,018 886
Cost of sales:        
Total cost of sales $ (284) $ (256) $ (556) $ (504)