XML 15 R4.htm IDEA: XBRL DOCUMENT v3.24.2
CONDENSED CONSOLIDATED STATEMENTS OF INCOME - USD ($)
shares in Millions, $ in Millions
 3 Months Ended 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Jun. 30, 2024
Jun. 30, 2023
Net sales:        
Total net sales $ 2,644 $ 2,407 $ 5,141 $ 4,601
Cost of sales:        
Total cost of sales (1,770) (1,684) (3,452) (3,213)
Gross profit 874 723 1,689 1,388
Operating expenses:        
Selling, general and administrative expenses (316) (285) (597) (548)
Engineering expenses (57) (53) (105) (104)
Amortization expense (71) (73) (145) (148)
Total operating expenses (444) (411) (847) (800)
Income from operations 430 312 842 588
Other income and expenses:        
Interest expense, net (49) (55) (96) (103)
Other income, net 4 2 2 7
Income before income taxes 385 259 748 492
Income tax expense (94) (66) (180) (126)
Net income 291 193 568 366
Less: Net income attributable to noncontrolling interest (2) (2) (7) (6)
Net income attributable to Wabtec shareholders $ 289 $ 191 $ 561 $ 360
Basic        
Net income attributable to Wabtec shareholders (in dollars per share) $ 1.64 $ 1.06 $ 3.18 $ 2.00
Diluted        
Net income attributable to Wabtec shareholders (in dollars per share) $ 1.64 $ 1.06 $ 3.17 $ 2.00
Weighted average shares outstanding        
Basic (in shares) 175.4 178.9 176.0 179.4
Diluted (in shares) 176.0 179.4 176.6 180.0
Goods        
Net sales:        
Total net sales $ 2,145 $ 1,899 $ 4,152 $ 3,583
Cost of sales:        
Total cost of sales (1,490) (1,400) (2,901) (2,657)
Services        
Net sales:        
Total net sales 499 508 989 1,018
Cost of sales:        
Total cost of sales $ (280) $ (284) $ (551) $ (556)