Acquisitions (Tables)

9 Months Ended

Sep. 30, 2019

Summary of Preliminary Estimated Fair Values of the Assets Acquired and Liabilities Assumed at the Date of the Acquisition

The following table summarizes the final fair values of the assets acquired and liabilities assumed at the date of the acquisition for Annax.



	Annax
In millions	March 22, 2018
Current assets	$	32.8
Property, plant & equipment	0.7
Goodwill	38.5
Other intangible assets	11.7
Total assets acquired	83.7
Total liabilities assumed	(55.1		)
Net assets acquired	$	28.6

The following table summarizes the preliminary fair values of the GE Transportation, a Wabtec company, assets acquired and liabilities assumed:



In millions
Assets acquired
Cash and cash equivalents	$	174.3
Accounts receivable	524.7
Inventories	1,192.9
Other current assets	64.7
Property, plant, and equipment	1,091.2
Goodwill	5,804.4
Trade names	55.0
Customer relationships	550.0
Intellectual property	1,210.0
Backlog	1,460.0
Other noncurrent assets	210.6
Total assets acquired	12,337.8
Liabilities assumed
Current liabilities	1,555.6
Contingent consideration	440.0
Other noncurrent liabilities	483.8
Total liabilities assumed	2,479.4
Net assets acquired	9,858.4
Noncontrolling interest	$	86.8

Pro Forma Financial Information

The following unaudited pro forma consolidated financial information presents income statement results as if the GET Merger Transactions and Annax acquisition listed above had occurred on January 1, 2018:



In millions, except per share data	Three Months Ended September 30, 2019		Three Months Ended September 30, 2018		Nine Months Ended September 30, 2019		Nine Months Ended September 30, 2018
Net sales	$	2,001.7	$	1,994.8	$	6,317.8	$	5,891.2
Gross profit	615.4		575.7		1,376.4		1,595.8
Net income attributable to Wabtec shareholders	103.3		120.7		358.5		195.4
Diluted earnings per share
As Reported	$	0.48	$	0.91	$	1.11	$	2.70
Pro forma	$	0.55	$	0.63	$	1.87	$	1.02