ACQUISITIONS (Tables)

12 Months Ended

Dec. 31, 2021

Business Combination and Asset Acquisition [Abstract]

Summary of Fair Value of Assets Acquired and Liabilities Assumed

The following table summarizes the preliminary fair value of the Nordco assets acquired and liabilities assumed:

In millions
Assets acquired
Cash and cash equivalents	$	5
Accounts receivable	23
Inventory	34
Other current assets	2
Property, plant and equipment	17
Goodwill	214
Other intangible assets	168
Other noncurrent assets	12
Total assets acquired	475
Liabilities assumed
Current liabilities	19
Noncurrent liabilities	46
Total liabilities assumed	65
Net assets acquired	$	410

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
Accounts receivable	541
Inventories	1,190
Other current assets	71
Property, plant, and equipment	1,089
Goodwill	5,984
Trade names	55
Customer relationships	550
Intellectual property	1,180
Backlog	1,450
Other noncurrent assets	321
Total assets acquired	12,608
Liabilities assumed
Current liabilities	1,594
Contingent consideration	440
Other noncurrent liabilities	667
Total liabilities assumed	2,701
Net assets acquired	9,907
Noncontrolling interest	$	88

Pro Forma Financial Information

The following unaudited pro forma consolidated financial information presents income statement results as if the GE Transportation acquisition had occurred January 1, 2018:

In millions, except per share data	Twelve Months Ended December 31, 2019
Net sales	$	8,676
Gross profit	2,343
Net income attributable to Wabtec shareholders	277
Diluted earnings per share
As Reported	$	1.84
Pro forma	$	1.45