Acquisitions (Tables)

6 Months Ended

Jun. 30, 2018

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 Annax, Melett and AM General. For the ATP and TTC acquisitions, the following table summarizes the final fair value of the assets acquired and liabilities assumed at the date of acquisition.



	Annax			Melett			AM General			TTC			ATP
In thousands	March 22, 2018			December 4, 2017			October 2, 2017			April 5, 2017			March 13, 2017
Current assets	$	34,037		$	35,258		$	6,610		$	3,744		$	11,666
Property, plant & equipment	674			5,917			4,140			5,413			5,354
Goodwill	14,507			28,801			12,944			14,095			29,034
Other intangible assets	23,998			30,479			12,097			12,300			25,000
Total assets acquired	73,216			100,455			35,791			35,552			71,054
Total liabilities assumed	(44,549		)	(26,499		)	(25,375		)	(3,041		)	(5,800		)
Net assets acquired	$	28,667		$	73,956		$	10,416		$	32,511		$	65,254

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 consolidated financial information presents income statement results as if the acquisitions listed above had occurred on January 1, 2017:



In thousands	Three Months Ended June 30, 2018		Three Months Ended June 30, 2017		Six Months Ended June 30, 2018		Six Months Ended June 30, 2017
Net sales	$	1,111,680	$	959,101	$	2,181,282	$	1,913,369
Gross profit	323,967		282,358		636,784		563,323
Net income attributable to Wabtec shareholders	84,416		75,128		173,286		152,853
Diluted earnings per share
As Reported	$	0.87	$	0.75	$	1.79	$	1.52
Pro forma	$	0.87	$	0.78	$	1.79	$	1.59