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CONDENSED CONSOLIDATED STATEMENTS OF INCOME - USD ($)
shares in Millions, $ in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Sep. 30, 2021
Sep. 30, 2020
Net sales:        
Total net sales $ 1,906.9 $ 1,865.1 $ 5,749.4 $ 5,532.4
Cost of sales:        
Total cost of sales (1,304.6) (1,298.9) (4,032.8) (3,900.8)
Gross profit 602.3 566.2 1,716.6 1,631.6
Operating expenses:        
Selling, general and administrative expenses (269.0) (252.7) (766.5) (712.9)
Engineering expenses (43.8) (36.5) (123.5) (123.7)
Amortization expense (72.5) (70.3) (214.7) (211.6)
Total operating expenses (385.3) (359.5) (1,104.7) (1,048.2)
Income from operations 217.0 206.7 611.9 583.4
Other income and expenses:        
Interest expense, net (42.2) (45.6) (134.7) (150.3)
Other income, net 0.5 14.3 25.0 5.8
Income before income taxes 175.3 175.4 502.2 438.9
Income tax expense (43.5) (46.9) (130.5) (113.4)
Net income 131.8 128.5 371.7 325.5
Less: Net (income) loss attributable to noncontrolling interest (1.2) (0.4) (3.9) 1.0
Net income attributable to Wabtec shareholders $ 130.6 $ 128.1 $ 367.8 $ 326.5
Basic        
Net income attributable to Wabtec shareholders (in dollars per share) $ 0.69 $ 0.67 $ 1.95 $ 1.71
Diluted        
Net income attributable to Wabtec shareholders (in dollars per share) $ 0.69 $ 0.67 $ 1.95 $ 1.71
Weighted average shares outstanding        
Basic (in shares) 187.6 189.8 188.2 190.1
Diluted (in shares) 188.0 190.2 188.6 190.6
Goods        
Net sales:        
Total net sales $ 1,489.1 $ 1,543.6 $ 4,562.2 $ 4,540.5
Cost of sales:        
Total cost of sales (1,075.5) (1,109.9) (3,368.2) (3,327.1)
Services        
Net sales:        
Total net sales 417.8 321.5 1,187.2 991.9
Cost of sales:        
Total cost of sales $ (229.1) $ (189.0) $ (664.6) $ (573.7)