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CONSOLIDATED STATEMENTS OF INCOME - USD ($)
shares in Millions, $ in Millions
12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Net sales:      
Total net sales $ 7,822 $ 7,556 $ 8,200
Cost of sales:      
Total cost of sales (5,453) (5,419) (5,922)
Gross profit 2,369 2,137 2,278
Operating expenses:      
Selling, general and administrative expenses (1,030) (948) (1,167)
Engineering expenses (176) (162) (210)
Amortization expense (287) (282) (238)
Total operating expenses (1,493) (1,392) (1,615)
Income from operations 876 745 663
Other income and expenses:      
Interest expense, net (177) (199) (219)
Other income, net 38 11 3
Income before income taxes 737 557 447
Income tax expense (172) (145) (120)
Net income 565 412 327
Less: Net (income) loss attributable to noncontrolling interest (7) 2 0
Net income attributable to Wabtec shareholders $ 558 $ 414 $ 327
Basic      
Net income attributable to Wabtec shareholders (in dollars per share) $ 2.96 $ 2.18 $ 1.91
Diluted      
Net income attributable to Wabtec shareholders (in dollars per share) $ 2.96 $ 2.17 $ 1.84
Weighted average shares outstanding      
Basic (in shares) 187.7 189.9 170.5
Diluted (in shares) 188.1 190.4 177.3
Product      
Net sales:      
Total net sales $ 6,205 $ 6,233 $ 6,908
Cost of sales:      
Total cost of sales (4,545) (4,629) (5,128)
Services      
Net sales:      
Total net sales 1,617 1,323 1,292
Cost of sales:      
Total cost of sales $ (908) $ (790) $ (794)