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RESTRUCTURING
 3 Months Ended
Mar. 31, 2024
Restructuring and Related Activities [Abstract]  
RESTRUCTURING RESTRUCTURING
During the first quarter of 2022, Wabtec announced a three-year strategic initiative (“Integration 2.0”) to review and consolidate our operating footprint, reduce headcount, streamline the end-to-end manufacturing process, restructure the North America distribution channels, expand operations in low-cost countries, and simplify the business through systems enablement. Through this initiative, Management will also evaluate additional capital investments to further simplify and streamline the business. The Company anticipates that it will incur one-time restructuring charges related to Integration 2.0 of approximately $135 million to $165 million.
A summary of restructuring charges related to the Integration 2.0 initiative is as follows:
Three Months Ended
March 31,
In millions20242023
Freight Segment:
Cost of goods sold$1 $1 
Selling, general and administrative expenses— 1 
Total Freight Segment$1 $2 
Transit Segment:
Cost of goods sold$3 $3 
Selling, general and administrative expenses3 2 
Amortization expense1 2 
Total Transit Segment$7 $7 
Total Integration 2.0 restructuring charges$8 $9 
Total one-time restructuring charges related to Integration 2.0 to date are approximately $126 million, which includes amounts recorded beginning in the fourth quarter 2021, and are primarily for employee-related costs and asset write downs associated with site consolidations in Europe. Cash payments made during the three months ended March 31, 2024 were approximately $22 million. Cash payments made during the three months ended March 31, 2023 were not material.
In addition to Integration 2.0, Wabtec is focused on exiting various low margin product offerings through Portfolio Optimization to improve profitability while reducing manufacturing complexity. Wabtec expects to incur approximately $85 million in net exit charges related to Portfolio Optimization, which will be predominately non-cash asset write downs. Wabtec recorded charges of approximately $3 million during the three months ended March 31, 2024 for asset write downs related to Portfolio Optimization. No charges related to Portfolio Optimization were recorded during the three months ended March 31, 2023. Total one-time restructuring charges related to Portfolio Optimization to date are approximately $31 million.