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CONDENSED CONSOLIDATED STATEMENTS OF INCOME - USD ($)
shares in Millions, $ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Jun. 30, 2021
Jun. 30, 2020
Net sales:        
Total net sales $ 2,012.3 $ 1,737.4 $ 3,842.5 $ 3,667.3
Cost of sales:        
Total cost of sales (1,432.2) (1,250.7) (2,728.2) (2,601.9)
Gross profit 580.1 486.7 1,114.3 1,065.4
Operating expenses:        
Selling, general and administrative expenses (262.1) (216.8) (497.5) (460.2)
Engineering expenses (42.0) (38.2) (79.7) (87.2)
Amortization expense (72.7) (72.3) (142.2) (141.3)
Total operating expenses (376.8) (327.3) (719.4) (688.7)
Income from operations 203.3 159.4 394.9 376.7
Other income and expenses:        
Interest expense, net (44.9) (51.4) (92.5) (104.7)
Other income (expense), net 10.3 6.3 24.5 (8.5)
Income before income taxes 168.7 114.3 326.9 263.5
Income tax expense (43.5) (28.5) (87.0) (66.5)
Net income 125.2 85.8 239.9 197.0
Less: Net (income) loss attributable to noncontrolling interest (0.4) 1.0 (2.7) 1.4
Net income attributable to Wabtec shareholders $ 124.8 $ 86.8 $ 237.2 $ 198.4
Basic        
Net income attributable to Wabtec shareholders (in dollars per share) $ 0.66 $ 0.46 $ 1.25 $ 1.04
Diluted        
Net income attributable to Wabtec shareholders (in dollars per share) $ 0.66 $ 0.46 $ 1.25 $ 1.04
Weighted average shares outstanding        
Basic (in shares) 188.6 189.8 188.5 190.3
Diluted (in shares) 188.9 190.2 188.9 190.8
Goods        
Net sales:        
Total net sales $ 1,588.0 $ 1,406.1 $ 3,073.1 $ 2,996.9
Cost of sales:        
Total cost of sales (1,185.0) (1,061.3) (2,292.7) (2,217.2)
Services        
Net sales:        
Total net sales 424.3 331.3 769.4 670.4
Cost of sales:        
Total cost of sales $ (247.2) $ (189.4) $ (435.5) $ (384.7)