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CONDENSED CONSOLIDATED STATEMENTS OF INCOME - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Jun. 30, 2019
Jun. 30, 2018
Net sales:        
Total net sales $ 2,236,284 $ 1,111,680 $ 3,829,901 $ 2,167,857
Cost of sales:        
Total cost of sales (1,621,608) (787,713) (2,826,208) (1,533,009)
Gross profit 614,676 323,967 1,003,693 634,848
Operating expenses:        
Selling, general and administrative expenses (290,959) (171,157) (550,682) (318,358)
Engineering expenses (57,120) (19,388) (91,665) (41,437)
Amortization expense (65,960) (9,899) (93,402) (20,251)
Total operating expenses (414,039) (200,444) (735,749) (380,046)
Income from operations 200,637 123,523 267,944 254,802
Other income and expenses:        
Interest expense, net (58,560) (31,920) (103,129) (52,204)
Other income (expense), net 2,177 2,171 (6,051) 4,757
Income from operations before income taxes 144,254 93,774 158,764 207,355
Income tax expense (41,400) (10,503) (59,923) (36,627)
Net income 102,854 83,271 98,841 170,728
Less: Net loss attributable to noncontrolling interest 1,381 1,145 922 2,054
Net income attributable to Wabtec shareholders $ 104,235 $ 84,416 $ 99,763 $ 172,782
Basic        
Net income attributable to Wabtec shareholders (in dollars per share) $ 0.58 $ 0.88 $ 0.66 $ 1.80
Diluted        
Net income attributable to Wabtec shareholders (in dollars per share) $ 0.54 $ 0.87 $ 0.61 $ 1.79
Weighted average shares outstanding        
Basic (in shares) 177,348 95,992 149,553 95,867
Diluted (in shares) 191,453 96,575 162,155 96,471
Goods        
Net sales:        
Total net sales $ 1,892,508 $ 1,065,893 $ 3,327,017 $ 2,076,570
Cost of sales:        
Total cost of sales (1,377,758) (749,097) (2,451,329) (1,458,375)
Services        
Net sales:        
Total net sales 343,776 45,787 502,884 91,287
Cost of sales:        
Total cost of sales $ (243,850) $ (38,616) $ (374,879) $ (74,634)