Acquisitions (Tables)

9 Months Ended

Sep. 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, and Precision Turbo. For the Unitrac and Gerken acquisitions, 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		$	11,666		$	9,137		$	4,145		$	32,706		$	11,476
Property, plant & equipment	5,909			5,354			—			1,346			7,667			1,768
Goodwill	16,309			31,934			24,373			4,019			17,470			2,442
Other intangible assets	12,300			22,100			19,400			5,200			30,560			1,230
Other assets	—			—			—			—			1,706			—
Total assets acquired	38,264			71,054			52,910			14,710			90,109			16,916
Total liabilities assumed	(5,753		)	(5,800		)	(9,083		)	(884		)	(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	444,741
Inventories	205,649
Other current assets	70,930
Property, plant, and equipment	148,746
Goodwill	1,257,360
Trade names	346,328
Customer relationships	233,529
Patents	1,201
Other noncurrent assets	183,252
Total assets acquired	3,070,054
Liabilities assumed
Current liabilities	805,992
Debt	409,899
Other noncurrent liabilities	347,348
Total liabilities assumed	1,563,239
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 September 30, 2017		Three Months Ended September 30, 2016		Nine Months Ended September 30, 2017		Nine Months Ended September 30, 2016
Net sales	$	957,931	$	995,869	$	2,817,550	$	3,168,195
Gross profit	253,203		301,554		799,695		977,743
Net income attributable to Wabtec shareholders	67,399		99,085		214,370		323,878
Diluted earnings per share
As Reported	$	0.70	$	0.91	$	2.22	$	2.92
Pro forma	$	0.70	$	1.02	$	2.23	$	3.30