Acquisitions (Tables)

3 Months Ended

Mar. 31, 2020

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 value of the GE Transportation assets acquired and liabilities assumed:


In millions
Assets acquired
Cash and cash equivalents	$	177.2
Accounts receivable	541.3
Inventories	1,189.7
Other current assets	71.5
Property, plant, and equipment	1,088.6
Goodwill	5,978.0
Trade names	55.0
Customer relationships	550.0
Intellectual property	1,180.0
Backlog	1,450.0
Other noncurrent assets	321.2
Total assets acquired	12,602.5
Liabilities assumed
Current liabilities	1,594.2
Contingent consideration	440.0
Other noncurrent liabilities	661.0
Total liabilities assumed	2,695.2
Net assets acquired	9,907.3
Noncontrolling interest	$	88.3

Pro Forma Financial Information

The following unaudited pro forma consolidated financial information presents income statement results as if the GET acquisition listed above had occurred on January 1, 2019:


In millions, except per share data	Three Months Ended March 31, 2020		Three Months Ended March 31, 2019
Net sales	$	1,929.9	$	2,069.2
Gross profit	578.7		454.3
Net income attributable to Wabtec shareholders	111.6		(53.7)
Diluted earnings per share
As Reported	$	0.58	$	(0.04)
Pro forma	$	0.58	$	(0.44)