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SEGMENT INFORMATION (Tables)

9 Months Ended

Sep. 30, 2025

Segment Reporting [Abstract]

Schedule of Segment Financial Information

Segment financial information for the three months ended September 30, 2025 is as follows:

In millions			Freight Segment						Transit Segment						Corporate Activities and Elimination						Total
Sales to external customers			$	2,093					$	793					$	—					$	2,886
Cost of sales			(1,343)						(541)						—						(1,884)
Gross profit			$	750					$	252					$	—					$	1,002
Gross margin			35.8		%				31.7		%
Selling, general & administrative expenses			$	(219)					$	(118)					$	(38)					$	(375)
Engineering expenses			(45)						(14)						—						(59)
Amortization expense			(72)						(5)						—						(77)
Income (loss) from operations			414						115						(38)						491
Interest expense and other, net			—						—						(66)						(66)
Income (loss) before income taxes			$	414					$	115					$	(104)					$	425
Intersegment sales/(elimination)			$	13					$	14					$	(27)					$	—
Depreciation and amortization			$	107					$	17					$	4					$	128
Capital expenditures			$	36					$	14					$	5					$	55
Segment assets			$	15,471					$	4,454					$	1,602					$	21,527

Segment financial information for the three months ended September 30, 2024 is as follows:

In millions			Freight Segment						Transit Segment						Corporate Activities and Elimination						Total
Sales to external customers			$	1,930					$	733					$	—					$	2,663
Cost of sales			(1,257)						(526)						—						(1,783)
Gross profit			$	673					$	207					$	—					$	880
Gross margin			35.0		%				28.2		%
Selling, general & administrative expenses			$	(173)					$	(109)					$	(36)					$	(318)
Engineering expenses			(37)						(13)						—						(50)
Amortization expense			(73)						(6)						—						(79)
Income (loss) from operations			390						79						(36)						433
Interest expense and other, net			—						—						(55)						(55)
Income (loss) before income taxes			$	390					$	79					$	(91)					$	378
Intersegment sales/(elimination)			$	12					$	23					$	(35)					$	—
Depreciation and amortization			$	111					$	18					$	5					$	134
Capital expenditures			$	32					$	12					$	2					$	46
Segment assets			$	13,259					$	4,102					$	1,283					$	18,644

Segment financial information for the nine months ended September 30, 2025 is as follows:

In millions			Freight Segment						Transit Segment						Corporate Activities and Elimination						Total
Sales to external customers			$	5,913					$	2,289					$	—					$	8,202
Cost of sales			(3,781)						(1,581)						—						(5,362)
Gross profit			$	2,132					$	708					$	—					$	2,840
Gross margin			36.1		%				30.9		%
Selling, general & administrative expenses			$	(564)					$	(339)					$	(126)					$	(1,029)
Engineering expenses			(119)						(36)						—						(155)
Amortization expense			(200)						(19)						—						(219)
Income (loss) from operations			1,249						314						(126)						1,437
Interest expense and other, net			—						—						(136)						(136)
Income (loss) before income taxes			$	1,249					$	314					$	(262)					$	1,301
Intersegment sales/(elimination)			$	37					$	35					$	(72)					$	—
Depreciation and amortization			$	299					$	55					$	11					$	365
Capital expenditures			$	92					$	36					$	10					$	138

Segment financial information for the nine months ended September 30, 2024 is as follows:

In millions			Freight Segment						Transit Segment						Corporate Activities and Elimination						Total
Sales to external customers			$	5,674					$	2,130					$	—					$	7,804
Cost of sales			(3,707)						(1,528)						—						(5,235)
Gross profit			$	1,967					$	602					$	—					$	2,569
Gross margin			34.7		%				28.2		%
Selling, general & administrative expenses			$	(488)					$	(318)					$	(109)					$	(915)
Engineering expenses			(123)						(32)						—						(155)
Amortization expense			(207)						(17)						—						(224)
Income (loss) from operations			1,149						235						(109)						1,275
Interest expense and other, net			—						—						(149)						(149)
Income (loss) before income taxes			$	1,149					$	235					$	(258)					$	1,126
Intersegment sales/(elimination)			$	37					$	44					$	(81)					$	—
Depreciation and amortization			$	312					$	50					$	13					$	375
Capital expenditures			$	82					$	37					$	4					$	123

Schedule of Sales by Product

Sales to external customers by product line are as follows:

						Three Months Ended September 30,												Nine Months Ended September 30,
In millions						2025						2024						2025						2024
Freight Segment:
Services						$	744					$	842					$	2,388					$	2,317
Equipment						677						513						1,699						1,609
Components						375						371						1,157						1,169
Digital Intelligence						297						204						669						579
Total Freight Segment						$	2,093					$	1,930					$	5,913					$	5,674
Transit Segment:
Original Equipment Manufacturer						$	367					$	349					$	1,042					$	969
Aftermarket						426						384						1,247						1,161
Total Transit Segment						$	793					$	733					$	2,289					$	2,130

X

- Definition

Tabular disclosure of entity-wide revenues from external customers for each product or service or each group of similar products or services if the information is not provided as part of the reportable operating segment information.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 40
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-40

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- Definition

Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 25
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-25

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
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-URI https://asc.fasb.org/1943274/2147482810/280-10-50-22

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-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-30

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