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CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Millions
Dec. 31, 2023
Dec. 31, 2022
Assets    
Cash, cash equivalents and restricted cash $ 620 $ 541
Accounts receivable 1,160 975
Unbilled accounts receivable 524 544
Inventories, net 2,284 2,034
Other current assets 267 233
Total current assets 4,855 4,327
Property, plant and equipment, net 1,485 1,429
Goodwill 8,780 8,508
Other intangible assets, net 3,205 3,402
Other noncurrent assets 663 850
Total noncurrent assets 14,133 14,189
Total Assets 18,988 18,516
Liabilities    
Accounts payable 1,250 1,301
Customer deposits 804 772
Accrued compensation 341 300
Accrued warranty 220 215
Current portion of long-term debt 781 251
Other accrued liabilities 660 628
Total current liabilities 4,056 3,467
Long-term debt 3,288 3,751
Accrued postretirement and pension benefits 62 57
Deferred income taxes 318 326
Contingent consideration 0 47
Other long-term liabilities 740 721
Total Liabilities 8,464 8,369
Commitments and contingencies (Note 18)
Equity    
Common stock, $.01 par value; 500.0 shares authorized and 226.9 shares issued; 177.8 and 181.2 shares outstanding at December 31, 2023 and 2022, respectively 2 2
Additional paid-in capital 7,977 7,953
Treasury stock, at cost, 49.1 and 45.7 shares, at December 31, 2023 and 2022, respectively (2,171) (1,769)
Retained earnings 5,269 4,577
Accumulated other comprehensive loss (590) (661)
Total Westinghouse Air Brake Technologies Corporation shareholders’ equity 10,487 10,102
Noncontrolling interest 37 45
Total Equity 10,524 10,147
Total Liabilities and Equity $ 18,988 $ 18,516