Acquisitions (Tables)

6 Months Ended

Jun. 30, 2017

Summary of Preliminary Estimated Fair Values of the Assets Acquired and Liabilities Assumed at the Date of the Acquisition

The following table summarizes the preliminary estimated fair values of the assets acquired and liabilities assumed at the date of the acquisition for TTC, ATP, Workhorse, Precision Turbo, and Gerken. For the Unitrac acquisition, the following table summarizes the final fair value of the assets acquired and liabilities assumed at the date of acquisition.



	TTC			ATP			Workhorse			Precision Turbo			Gerken			Unitrac
In thousands	April 5, 2017			March 14, 2017			December 14, 2016			November 17, 2016			August 1, 2016			May 5, 2016
Current assets	$	3,746		$	11,679		$	9,137		$	4,146		$	32,706		$	11,476
Property, plant & equipment	5,909			5,354			0			1,346			7,667			1,768
Goodwill	21,122			41,036			24,373			3,959			17,470			2,442
Other intangible assets	11,800			22,100			19,400			5,200			30,560			1,230
Other assets	—			—			—			—			1,706			—
Total assets acquired	42,577			80,169			52,910			14,651			90,109			16,916
Total liabilities assumed	(10,066		)	(14,915		)	(9,083		)	(825		)	(27,262		)	(2,145		)
Net assets acquired	$	32,511		$	65,254		$	43,827		$	13,826		$	62,847		$	14,771

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	445,164
Inventories	206,093
Other current assets	70,930
Property, plant, and equipment	156,885
Goodwill	1,256,855
Trade names	333,823
Customer relationships	255,354
Patents	1,201
Other noncurrent assets	165,167
Total assets acquired	3,069,790
Liabilities assumed
Current liabilities	805,728
Debt	409,899
Other noncurrent liabilities	347,348
Total liabilities assumed	1,562,975
Net assets acquired	$	1,506,815

Pro Forma Financial Information

The following unaudited pro forma consolidated financial information presents income statement results as if the acquisitions listed above had occurred on January 1, 2016:



In thousands	Three Months Ended June 30, 2017		Three Months Ended June 30, 2016		Six Months Ended June 30, 2017		Six Months Ended June 30, 2016
Net sales	$	932,467	$	1,055,212	$	1,859,619	$	2,210,418
Gross profit	274,027		325,658		546,492		674,222
Net income attributable to Wabtec shareholders	72,061		107,574		146,971		223,661
Diluted earnings per share
As Reported	$	0.75	$	1.00	$	1.52	$	2.02
Pro forma	$	0.75	$	1.10	$	1.53	$	2.43