XML 16 R4.htm IDEA: XBRL DOCUMENT v3.7.0.1
CONDENSED CONSOLIDATED STATEMENTS OF INCOME - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2017
Jun. 30, 2016
Jun. 30, 2017
Jun. 30, 2016
Income Statement [Abstract]        
Net sales $ 932,253 $ 723,601 $ 1,848,287 $ 1,495,632
Cost of sales (658,290) (486,212) (1,304,617) (1,003,063)
Gross profit 273,963 237,389 543,670 492,569
Selling, general and administrative expenses (127,574) (80,610) (249,915) (170,361)
Engineering expenses (23,338) (18,029) (46,802) (35,982)
Amortization expense (9,350) (5,466) (18,394) (10,761)
Total operating expenses (160,262) (104,105) (315,111) (217,104)
Income from operations 113,701 133,284 228,559 275,465
Other income and expenses        
Interest expense, net (15,420) (4,969) (33,132) (9,840)
Other income (expense), net (1,552) (1,229) 767 (1,075)
Income from operations before income taxes 96,729 127,086 196,194 264,550
Income tax expense (24,569) (36,601) (52,030) (79,902)
Net income 72,160 90,485 144,164 184,648
Less: Net (gain) loss attributable to noncontrolling interest (135) 0 1,750 0
Net income attributable to Wabtec shareholders $ 72,025 $ 90,485 $ 145,914 $ 184,648
Basic        
Net income attributable to Wabtec shareholders (in dollars per share) $ 0.75 $ 1.00 $ 1.52 $ 2.03
Diluted        
Net income attributable to Wabtec shareholders (in dollars per share) $ 0.75 $ 1.00 $ 1.52 $ 2.02
Weighted average shares outstanding        
Basic (in shares) 95,641 89,846 95,370 90,832
Diluted (in shares) 96,284 90,559 96,071 91,628