XML 122 R123.htm IDEA: XBRL DOCUMENT v3.19.3.a.u2
GUARANTOR SUBSIDIARIES FINANCIAL INFORMATION - Income Statement (Details) - USD ($)
$ in Millions
3 Months Ended 12 Months Ended
Dec. 31, 2019
Sep. 30, 2019
Jun. 30, 2019
Mar. 31, 2019
Dec. 31, 2018
Sep. 30, 2018
Jun. 30, 2018
Mar. 31, 2018
Dec. 31, 2019
Dec. 31, 2018
Dec. 31, 2017
Condensed Financial Statements, Captions [Line Items]                      
Total net sales $ 2,368.4 $ 2,001.7 $ 2,236.3 $ 1,593.6 $ 1,117.8 $ 1,077.8 $ 1,111.7 $ 1,056.2 $ 8,200.0 $ 4,363.5 $ 3,881.7
Cost of sales                 (5,922.0) (3,129.6) (2,816.4)
Gross profit 674.9 599.4 614.7 389.0 297.0 302.0 324.0 310.9 2,278.0 1,233.9 1,065.3
Total operating expenses                 (1,614.9) (760.5) (644.2)
Income from operations 226.1 169.1 200.6 67.3 93.4 125.2 123.5 131.3 663.1 473.4 421.1
Interest expense, net                 (219.1) (112.2) (77.9)
Other income, net                 2.8 6.4 8.9
Equity earnings (loss)                 0.0 0.0 0.0
Income from operations before income taxes                 446.8 367.6 352.1
Income tax expense                 (120.3) (75.9) (89.8)
Net income                 326.5 291.7 262.3
Less: Net loss attributable to noncontrolling interest                 0.2 3.2 0.0
Net income attributable to Wabtec shareholders $ 135.7 $ 91.1 $ 104.1 $ (4.2) $ 34.4 $ 87.7 $ 84.4 $ 88.4 326.7 294.9 262.3
Comprehensive income (loss) attributable to Wabtec shareholders                 200.7 83.3 596.9
Elimination                      
Condensed Financial Statements, Captions [Line Items]                      
Total net sales                 (1,535.0) (232.8) (129.3)
Cost of sales                 1,198.7 132.3 98.7
Gross profit                 (336.3) (100.5) (30.6)
Total operating expenses                 0.0 0.0 0.0
Income from operations                 (336.3) (100.5) (30.6)
Interest expense, net                 0.0 0.0 0.0
Other income, net                 0.0 0.0 0.0
Equity earnings (loss)                 (1,422.9) (766.3) (733.7)
Income from operations before income taxes                 (1,759.2) (866.8) (764.3)
Income tax expense                 0.0 0.0 0.0
Net income                 (1,759.2) (866.8) (764.3)
Less: Net loss attributable to noncontrolling interest                 0.0 0.0 0.0
Net income attributable to Wabtec shareholders                 (1,759.2) (866.8) (764.3)
Comprehensive income (loss) attributable to Wabtec shareholders                 (1,759.2) (866.8) (764.3)
Parent | Reportable Legal Entities                      
Condensed Financial Statements, Captions [Line Items]                      
Total net sales                 723.4 671.0 577.4
Cost of sales                 (562.1) (495.1) (440.9)
Gross profit                 161.3 175.9 136.5
Total operating expenses                 (321.6) (173.0) (114.2)
Income from operations                 (160.3) 2.9 22.3
Interest expense, net                 (214.8) (110.8) (76.8)
Other income, net                 (131.5) 13.5 10.0
Equity earnings (loss)                 809.5 396.9 416.1
Income from operations before income taxes                 302.9 302.5 371.6
Income tax expense                 23.8 (7.6) (109.3)
Net income                 326.7 294.9 262.3
Less: Net loss attributable to noncontrolling interest                 0.0 0.0 0.0
Net income attributable to Wabtec shareholders                 326.7 294.9 262.3
Comprehensive income (loss) attributable to Wabtec shareholders                 326.7 295.8 263.9
Guarantors | Reportable Legal Entities                      
Condensed Financial Statements, Captions [Line Items]                      
Total net sales                 3,245.3 483.1 398.2
Cost of sales                 (2,429.2) (304.3) (255.8)
Gross profit                 816.1 178.8 142.4
Total operating expenses                 (311.5) (57.3) (50.9)
Income from operations                 504.6 121.5 91.5
Interest expense, net                 12.5 12.8 10.9
Other income, net                 (11.1) 0.0 0.3
Equity earnings (loss)                 613.4 369.4 317.6
Income from operations before income taxes                 1,119.4 503.7 420.3
Income tax expense                 (97.0) (3.3) 18.8
Net income                 1,022.4 500.4 439.1
Less: Net loss attributable to noncontrolling interest                 0.0 0.0 0.0
Net income attributable to Wabtec shareholders                 1,022.4 500.4 439.1
Comprehensive income (loss) attributable to Wabtec shareholders                 1,022.4 500.4 439.1
Non-Guarantors | Reportable Legal Entities                      
Condensed Financial Statements, Captions [Line Items]                      
Total net sales                 5,766.3 3,442.2 3,035.4
Cost of sales                 (4,129.4) (2,462.5) (2,218.4)
Gross profit                 1,636.9 979.7 817.0
Total operating expenses                 (981.8) (530.2) (479.1)
Income from operations                 655.1 449.5 337.9
Interest expense, net                 (16.8) (14.2) (12.0)
Other income, net                 145.4 (7.1) (1.4)
Equity earnings (loss)                 0.0 0.0 0.0
Income from operations before income taxes                 783.7 428.2 324.5
Income tax expense                 (47.1) (65.0) 0.7
Net income                 736.6 363.2 325.2
Less: Net loss attributable to noncontrolling interest                 0.2 3.2 0.0
Net income attributable to Wabtec shareholders                 736.8 366.4 325.2
Comprehensive income (loss) attributable to Wabtec shareholders                 $ 610.8 $ 153.9 $ 658.2