XML 16 R6.htm IDEA: XBRL DOCUMENT v3.4.0.3
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2016
Mar. 31, 2015
Operating Activities    
Net income attributable to Wabtec shareholders $ 94,163 $ 96,164
Adjustments to reconcile net income to cash provided by operations:    
Depreciation and amortization 16,232 15,569
Stock-based compensation expense 5,510 8,763
Loss on disposal of property, plant and equipment 18 147
Excess income tax benefits from exercise of stock options 0 (314)
Changes in operating assets and liabilities, net of acquisitions    
Accounts receivable and unbilled accounts receivable (23,844) (39,502)
Inventories 1,400 (18,541)
Accounts payable (18,002) (12,931)
Accrued income taxes 29,779 24,581
Accrued liabilities and customer deposits (12,832) (16,468)
Other assets and liabilities (16,858) (13,807)
Net cash provided by operating activities 75,566 43,661
Investing Activities    
Purchase of property, plant and equipment (8,504) (8,458)
Proceeds from disposal of property, plant and equipment 84 138
Acquisitions of businesses, net of cash acquired (210) (75,713)
Net cash used for investing activities (8,630) (84,033)
Financing Activities    
Proceeds from debt 195,000 111,700
Payments of debt (85,453) (211,847)
Purchase of treasury stock (133,738) 0
Proceeds from exercise of stock options and other benefit plans 515 397
Excess income tax benefits from exercise of stock options 0 314
Payment of income tax withholding on share-based compensation (9,006) (14,565)
Cash dividends (7,355) (5,780)
Net cash used for financing activities (40,037) (119,781)
Effect of changes in currency exchange rates 9,684 (16,561)
Increase (Decrease) in cash 36,583 (176,714)
Cash, beginning of period 226,191 425,849
Cash, end of period $ 262,774 $ 249,135