ACQUISITIONS (Tables)

12 Months Ended

Dec. 31, 2017

Business Combinations [Abstract]

Summary of Fair Value of Assets Acquired and Liabilities Assumed

For the Workhorse, Precision Turbo, and Unitrac acquisitions, the following table summarizes the final fair value of assets acquired and liabilities assumed at the date of acquisition.  

	Melett			TTC			ATP			Workhorse			Precision Turbo			Unitrac
	December 4, 2017			April 5, 2017			March 13, 2017			December 14, 2016			November 17, 2016			May 5, 2016
In thousands
Current assets	$	21,068		$	3,746		$	11,666		$	9,137		$	4,145		$	11,476
Property, plant & equipment	5,917			5,909			5,354			—			1,317			1,768
Goodwill	22,501			16,309			29,034			22,273			4,248			2,442
Other intangible assets	39,259			12,300			25,000			21,500			5,200			1,230
Total assets acquired	88,745			38,264			71,054			52,910			14,910			16,916
Total liabilities assumed	(14,789		)	(5,753		)	(5,800		)	(9,083		)	(1,057		)	(2,145		)
Net assets acquired	$	73,956		$	32,511		$	65,254		$	43,827		$	13,853		$	14,771

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

	AM General			Gerken
	October 2, 2017			August 1, 2016
In thousands
Current assets	$	6,611		$	32,706
Property, plant & equipment	4,140			7,667
Goodwill	12,943			17,470
Other intangible assets	12,097			30,560
Other assets	—			1,706
Total assets acquired	35,791			90,109
Total liabilities assumed	(25,375		)	(27,262		)
Net assets acquired	$	10,416		$	62,847

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

In thousands
Assets acquired
Cash and cash equivalents	$	178,318
Accounts receivable	439,631
Inventories	205,649
Other current assets	70,930
Property, plant, and equipment	148,746
Goodwill	1,262,350
Trade names	346,328
Customer Relationships	233,529
Patents	1,201
Other noncurrent assets	184,564
Total assets acquired	3,071,246
Liabilities assumed
Current liabilities	819,493
Debt	409,899
Other noncurrent liabilities	335,039
Total liabilities assumed	1,564,431
Net assets acquired	$	1,506,815

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, 2016:

	For the year ended December 31,
In thousands	2017		2016
Net sales	$	3,946,244	$	4,212,617
Gross profit	1,095,101		1,275,835
Net income attributable to Wabtec shareholders	271,783		349,852
Diluted earnings per share
As Reported	$	2.72	$	3.34
Pro forma	$	2.82	$	3.83