ACQUISITIONS (Tables)

12 Months Ended

Dec. 31, 2016

Business Combinations [Abstract]

Summary of Fair Value of Assets Acquired and Liabilities Assumed

For the RMS, Track IQ, and RCL acquisitions, the following table summarizes the final fair value of assets acquired and liabilities assumed at the date of acquisition.  

	Workhorse			Precision Turbo			Unitrac			RMS			Track IQ			RCL
	December 14, 2016			November 17, 2016			May 5, 2016			October 30, 2015			October 8, 2015			February 4, 2015
In thousands
Current assets	$	9,432		$	4,155		$	12,136		$	3,604		$	660		$	16,421
Property, plant & equipment	—			1,346			1,768			1,378			121			12,136
Goodwill	23,052			3,861			1,388			8,855			6,490			14,787
Other intangible assets	20,900			5,200			1,230			8,622			3,246			40,403
Total assets acquired	53,384			14,562			16,522			22,459			10,517			83,747
Total liabilities assumed	(9,093		)	(716		)	(2,144		)	(3,749		)	(1,205		)	(5,736		)
Net assets acquired	$	44,291		$	13,846		$	14,378		$	18,710		$	9,312		$	78,011

The following table summarizes the preliminary estimated fair values of the Faiveley Transport assets acquired and liabilities assumed.

In thousands
Assets acquired
Cash and cash equivalents	$	178,318
Accounts receivable	385,754
Inventories	207,151
Other current assets	66,152
Property, plant, and equipment	161,663
Goodwill	1,188,296
Trade names	333,823
Customer Relationships	255,354
Patents	1,201
Other noncurrent assets	141,756
Total assets acquired	2,919,468
Liabilities assumed
Current liabilities	653,679
Debt	409,899
Other noncurrent liabilities	349,074
Total liabilities assumed	1,412,652
Noncontrolling interest	760,343
Net assets acquired	$	1,506,816

For the MTC acquisition, the following table summarizes the final fair value of the assets acquired and liabilities assumed at the date of the acquisition.

	Gerken			MTC
	August 1, 2016			June 17, 2015
In thousands
Current assets	$	32,706		$	10,348
Property, plant & equipment	7,667			1,450
Goodwill	17,470			13,198
Other intangible assets	30,560			7,650
Other assets	1,706			114
Total assets acquired	90,109			32,760
Total liabilities assumed	(27,262		)	(9,400		)
Net assets acquired	$	62,847		$	23,360

Pro Forma Financial Information

The following unaudited pro forma financial information presents income statement results as if the acquisitions listed above had occurred January 1, 2015:

	For the year ended December 31,
In thousands	2016		2015
Net sales	$	4,091,246	$	4,638,466
Gross profit	1,238,206		1,405,746
Net income attributable to Wabtec shareholders	368,929		453,944
Diluted earnings per share
As Reported	$	3.34	$	4.10
Pro forma	$	4.04	$	4.67