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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2015
Dec. 31, 2014
Dec. 31, 2013
Operating Activities      
Net income attributable to Wabtec shareholders $ 398,628 $ 351,680 $ 292,235
Adjustments to reconcile net income to cash provided by operations:      
Depreciation and amortization 64,734 61,261 51,193
Stock-based compensation expense 26,019 26,134 24,107
Deferred income taxes 4,981 (7,054) 15,248
Loss (gain) on disposal of property, plant and equipment 587 812 (15)
Excess income tax benefits from exercise of stock options (2,584) (3,020) (4,266)
Changes in operating assets and liabilities, net of acquisitions      
Accounts receivable and unbilled accounts receivable 21,500 (17,413) (149,699)
Inventories 20,147 (64,089) 26,060
Accounts payable (76,650) 55,378 60,976
Accrued income taxes 21,740 23,763 (15,033)
Increase Decrease In Accrued Liabilities And Customer Deposits (14,837) 68,729 (48,831)
Other assets and liabilities (16,005) (23,796) (16,322)
Net cash provided by operating activities 448,260 472,385 235,653
Investing Activities      
Purchase of property, plant and equipment (49,428) (47,662) (41,238)
Proceeds from disposal of property, plant and equipment 1,784 421 6,000
Acquisitions of business, net of cash acquired (129,550) (300,437) (223,454)
Deposit in escrow (202,942) 0 0
Net cash used for investing activities (380,136) (347,678) (258,692)
Financing Activities      
Proceeds from debt 787,400 563,400 959,067
Payments of debt (612,680) (493,819) (829,842)
Stock re-purchase (387,787) (26,757) (32,998)
Proceeds from exercise of stock options and other benefit plans 3,097 3,337 5,165
Excess income tax benefits from exercise of stock options 2,584 3,020 4,266
Payment of income tax withholding on share-based compensation (14,565) 0 0
Earn-out settlement 0 (4,429) 0
Cash dividends ($0.28, $0.20, and $0.13 per share for the years ended December 31, 2015, 2014 and 2013 (26,963) (19,246) (12,644)
Net cash (used for) provided by financing activities (248,914) 25,506 93,014
Effect of changes in currency exchange rates (18,868) (10,124) 19
(Decrease) increase in cash (199,658) 140,089 69,994
Cash, beginning of year 425,849 285,760 215,766
Cash, end of year $ 226,191 $ 425,849 $ 285,760