$WAB
WESTINGHOUSE AIR BRAKE TECHNOLOGIES CORP

2013 Q2 Form 10-Q Financial Statement

#000156459013000125 Filed on July 26, 2013

View on sec.gov

Income Statement

Concept 2013 Q2 2012 Q2
Revenue $638.0M $609.8M
YoY Change 4.62% 27.34%
Cost Of Revenue $445.1M $436.4M
YoY Change 2.0% 29.82%
Gross Profit $192.9M $173.4M
YoY Change 11.22% 21.5%
Gross Profit Margin 30.23% 28.44%
Selling, General & Admin $63.90M $59.16M
YoY Change 8.01% -19.99%
% of Gross Profit 33.13% 34.11%
Research & Development $11.30M $10.15M
YoY Change 11.38% 11.09%
% of Gross Profit 5.86% 5.85%
Depreciation & Amortization $13.80M $10.00M
YoY Change 38.0% 0.0%
% of Gross Profit 7.15% 5.77%
Operating Expenses $80.30M $72.56M
YoY Change 10.66% -16.0%
Operating Profit $112.6M $100.9M
YoY Change 11.59% 78.96%
Interest Expense -$4.300M $3.286M
YoY Change -230.86% -21.82%
% of Operating Profit -3.82% 3.26%
Other Income/Expense, Net $1.400M $223.0K
YoY Change 527.8% -154.39%
Pretax Income $109.7M $97.58M
YoY Change 12.41% 87.08%
Income Tax $35.10M $32.87M
% Of Pretax Income 32.0% 33.68%
Net Earnings $74.64M $64.71M
YoY Change 15.34% 78.1%
Net Earnings / Revenue 11.7% 10.61%
Basic Earnings Per Share $0.78 $0.67
Diluted Earnings Per Share $0.77 $0.67
COMMON SHARES
Basic Shares Outstanding 47.84M shares
Diluted Shares Outstanding 48.42M shares

Balance Sheet

Concept 2013 Q2 2012 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $215.0M $234.0M
YoY Change -8.12% 5.88%
Cash & Equivalents $215.0M $234.1M
Short-Term Investments
Other Short-Term Assets $81.00M $19.61M
YoY Change 313.1% -68.88%
Inventory $406.0M $388.8M
Prepaid Expenses
Receivables $488.0M $442.1M
Other Receivables $0.00 $0.00
Total Short-Term Assets $1.190B $1.143B
YoY Change 4.07% 22.69%
LONG-TERM ASSETS
Property, Plant & Equipment $241.0M $226.7M
YoY Change 6.3% 3.99%
Goodwill $623.9M
YoY Change
Intangibles $138.5M $422.4M
YoY Change -67.21%
Long-Term Investments
YoY Change
Other Assets $41.00M $40.00M
YoY Change 2.5% 0.0%
Total Long-Term Assets $1.326B $1.188B
YoY Change 11.58% 10.14%
TOTAL ASSETS
Total Short-Term Assets $1.190B $1.143B
Total Long-Term Assets $1.326B $1.188B
Total Assets $2.516B $2.332B
YoY Change 7.89% 15.96%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $273.0M $249.5M
YoY Change 9.44% 34.12%
Accrued Expenses $171.0M $217.0M
YoY Change -21.2% 43.71%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $0.00 $43.00K
YoY Change -100.0% -99.89%
Total Short-Term Liabilities $524.0M $550.3M
YoY Change -4.78% 20.68%
LONG-TERM LIABILITIES
Long-Term Debt $397.0M $443.1M
YoY Change -10.4% 24.46%
Other Long-Term Liabilities $102.0M $14.73M
YoY Change 592.46% -84.97%
Total Long-Term Liabilities $499.0M $457.8M
YoY Change 9.0% 0.84%
TOTAL LIABILITIES
Total Short-Term Liabilities $524.0M $550.3M
Total Long-Term Liabilities $499.0M $457.8M
Total Liabilities $1.115B $1.178B
YoY Change -5.33% 18.13%
SHAREHOLDERS EQUITY
Retained Earnings $1.175B
YoY Change
Common Stock $662.0K
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost) $327.0M
YoY Change
Treasury Stock Shares 18.29M shares
Shareholders Equity $1.401B $1.151B
YoY Change
Total Liabilities & Shareholders Equity $2.516B $2.332B
YoY Change 7.89% 15.96%

Cashflow Statement

Concept 2013 Q2 2012 Q2
OPERATING ACTIVITIES
Net Income $74.64M $64.71M
YoY Change 15.34% 78.1%
Depreciation, Depletion And Amortization $13.80M $10.00M
YoY Change 38.0% 0.0%
Cash From Operating Activities $13.10M $29.50M
YoY Change -55.59% -40.4%
INVESTING ACTIVITIES
Capital Expenditures -$8.200M -$6.300M
YoY Change 30.16% 16.67%
Acquisitions
YoY Change
Other Investing Activities $5.200M -$88.40M
YoY Change -105.88% 333.33%
Cash From Investing Activities -$3.000M -$94.60M
YoY Change -96.83% 265.25%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -19.10M 34.30M
YoY Change -155.69% -862.22%
NET CHANGE
Cash From Operating Activities 13.10M 29.50M
Cash From Investing Activities -3.000M -94.60M
Cash From Financing Activities -19.10M 34.30M
Net Change In Cash -9.000M -30.80M
YoY Change -70.78% -261.26%
FREE CASH FLOW
Cash From Operating Activities $13.10M $29.50M
Capital Expenditures -$8.200M -$6.300M
Free Cash Flow $21.30M $35.80M
YoY Change -40.5% -34.79%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageRemainingContractualTerm1
P1Y6M
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
48.55
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodWeightedAverageGrantDateFairValue
20.85
wab Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Net Performance Adjustment Weighted Average Net Performance Adjustment Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNetPerformanceAdjustmentWeightedAverageNetPerformanceAdjustmentFairValue
35.29
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Forfeitures Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeituresWeightedAverageGrantDateFairValue
20.50
CY2013Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue
35.32
us-gaap Stock Repurchased During Period Value
StockRepurchasedDuringPeriodValue
-21927000
us-gaap Payments Of Dividends
PaymentsOfDividends
4796000
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
81071000
us-gaap Effect Of Exchange Rate On Cash And Cash Equivalents
EffectOfExchangeRateOnCashAndCashEquivalents
-3581000
us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
-1261000
CY2011Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
285615000
us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
0.05
us-gaap Nature Of Operations
NatureOfOperations
<div> <p style="margin:0pt; page-break-after:avoid"><font style="font-family:&apos;Times New Roman&apos;; font-size:10pt; font-weight:bold">1. BUSINESS </font></p> <p style="margin:6pt 0pt 0pt; text-indent:24.5pt"><font style="font-family:&apos;Times New Roman&apos;; font-size:10pt">Wabtec is one of the world&#8217;s largest providers of value-added, technology-based products and services for the global rail industry. Our products are found on virtually all U.S. locomotives, freight cars and passenger transit vehicles, as well as in more than </font><font style="font-family:&apos;Times New Roman&apos;; font-size:10pt; ">100</font><font style="font-family:&apos;Times New Roman&apos;; font-size:10pt"> countries throughout the world. Our products enhance safety, improve productivity and reduce maintenance costs for customers, and many of our core products and services are essential in the safe and efficient operation of freight rail and passenger transit vehicles. Wabtec is a global company with operations in </font><font style="font-family:&apos;Times New Roman&apos;; font-size:10pt; ">19</font><font style="font-family:&apos;Times New Roman&apos;; font-size:10pt"> countries. In the first six months of 2013, about</font><font style="font-family:&apos;Times New Roman&apos;; font-size:10pt"> </font><font style="font-family:&apos;Times New Roman&apos;; font-size:10pt; ">49</font><font style="font-family:&apos;Times New Roman&apos;; font-size:10pt">% of the Company&#8217;s revenues came from customers outside the U.S.</font><font style="font-family:&apos;Times New Roman&apos;; font-size:10pt"> </font></p> </div>
us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
<div> <p style="margin:12pt 0pt 0pt; text-indent:24.5pt"><font style="font-family:&apos;Times New Roman&apos;; font-size:10pt; font-weight:bold; font-style:italic">Reclassifications </font><font style="font-family:&apos;Times New Roman&apos;; font-size:10pt">Certain prior year amounts have been reclassified where necessary to conform to the current year presentation.</font></p> </div>
us-gaap Use Of Estimates
UseOfEstimates
<div> <p style="margin:12pt 0pt 0pt; text-indent:24.5pt"><font style="font-family:&apos;Times New Roman&apos;; font-size:10pt; font-weight:bold; font-style:italic">Use of Estimates</font><font style="font-family:&apos;Times New Roman&apos;; font-size:10pt"> The preparation of financial statements in conformity with generally accepted accounting principles in the United States requires the Company to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements and reported amounts of revenues and expenses during the reporting period. Actual amounts could differ from the estimates. On an ongoing basis, management reviews its estimates based on currently available information. Changes in facts and circumstances may result in revised estimates. </font></p> </div>
us-gaap Business Acquisitions Pro Forma Revenue
BusinessAcquisitionsProFormaRevenue
1296406000
CY2013Q2 wab Business Acquisition Pro Forma Gross Profit
BusinessAcquisitionProFormaGrossProfit
192881000
CY2012Q2 wab Business Acquisition Pro Forma Gross Profit
BusinessAcquisitionProFormaGrossProfit
189267000
wab Business Acquisition Pro Forma Gross Profit
BusinessAcquisitionProFormaGrossProfit
377404000
wab Business Acquisition Pro Forma Gross Profit
BusinessAcquisitionProFormaGrossProfit
375374000
CY2013Q2 us-gaap Business Acquisitions Pro Forma Net Income Loss
BusinessAcquisitionsProFormaNetIncomeLoss
74638000
CY2012Q2 us-gaap Business Acquisitions Pro Forma Net Income Loss
BusinessAcquisitionsProFormaNetIncomeLoss
69225000
wab Number Of Countries Company Operates
NumberOfCountriesCompanyOperates
19
wab Revenues From Customers Outside Us
RevenuesFromCustomersOutsideUS
0.49
wab Other Comprehensive Income Loss Before Reclassifications Net Of Tax
OtherComprehensiveIncomeLossBeforeReclassificationsNetOfTax
-34496000
wab Amounts Reclassified From Accumulated Other Comprehensive Income Net Of Income Taxes
AmountsReclassifiedFromAccumulatedOtherComprehensiveIncomeNetOfIncomeTaxes
1947000
CY2013Q2 wab Amounts Reclassified From Accumulated Other Comprehensive Income Before Income Taxes
AmountsReclassifiedFromAccumulatedOtherComprehensiveIncomeBeforeIncomeTaxes
1406000
CY2013Q2 wab Amounts Reclassified From Accumulated Other Comprehensive Income Tax Effect
AmountsReclassifiedFromAccumulatedOtherComprehensiveIncomeTaxEffect
-450000
CY2013Q2 wab Amounts Reclassified From Accumulated Other Comprehensive Income Net Of Income Taxes
AmountsReclassifiedFromAccumulatedOtherComprehensiveIncomeNetOfIncomeTaxes
956000
wab Amounts Reclassified From Accumulated Other Comprehensive Income Before Income Taxes
AmountsReclassifiedFromAccumulatedOtherComprehensiveIncomeBeforeIncomeTaxes
2822000
wab Amounts Reclassified From Accumulated Other Comprehensive Income Tax Effect
AmountsReclassifiedFromAccumulatedOtherComprehensiveIncomeTaxEffect
-875000
CY2013Q2 us-gaap Unbilled Receivables Current
UnbilledReceivablesCurrent
152300000
CY2012Q4 us-gaap Unbilled Receivables Current
UnbilledReceivablesCurrent
97100000
CY2013Q2 us-gaap Customer Deposits Current
CustomerDepositsCurrent
80500000
CY2012Q4 us-gaap Customer Deposits Current
CustomerDepositsCurrent
82800000
CY2013Q2 us-gaap Provision For Loss On Contracts
ProvisionForLossOnContracts
12100000
CY2012Q4 us-gaap Provision For Loss On Contracts
ProvisionForLossOnContracts
14200000
CY2013Q2 us-gaap Deferred Costs
DeferredCosts
17000000
CY2012Q4 us-gaap Deferred Costs
DeferredCosts
20500000
wab Interest Rate On Notional Amount Of Interest Rate Swap Agreement
InterestRateOnNotionalAmountOfInterestRateSwapAgreement
0.01415
CY2013Q2 us-gaap Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
1000000
us-gaap Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
1900000
CY2012Q2 us-gaap Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
600000
us-gaap Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
1000000
CY2013Q2 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
200000000
CY2013Q2 us-gaap Stockholders Equity Note Stock Split Conversion Ratio
StockholdersEquityNoteStockSplitConversionRatio
2
CY2013Q2 wab Percentage Of Stock Dividend
PercentageOfStockDividend
1
CY2013Q2 us-gaap Stock Issued During Period Shares Stock Splits
StockIssuedDuringPeriodSharesStockSplits
66200000
CY2013Q2 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.01
CY2013Q2 us-gaap Business Acquisitions Pro Forma Revenue
BusinessAcquisitionsProFormaRevenue
638002000
CY2012Q2 us-gaap Business Acquisitions Pro Forma Revenue
BusinessAcquisitionsProFormaRevenue
659482000
us-gaap Business Acquisitions Pro Forma Revenue
BusinessAcquisitionsProFormaRevenue
1258327000
us-gaap Business Acquisitions Pro Forma Net Income Loss
BusinessAcquisitionsProFormaNetIncomeLoss
145151000
us-gaap Business Acquisitions Pro Forma Net Income Loss
BusinessAcquisitionsProFormaNetIncomeLoss
133965000
CY2013Q2 us-gaap Business Acquisition Pro Forma Earnings Per Share Diluted
BusinessAcquisitionProFormaEarningsPerShareDiluted
0.77
CY2012Q2 us-gaap Business Acquisition Pro Forma Earnings Per Share Diluted
BusinessAcquisitionProFormaEarningsPerShareDiluted
0.71
us-gaap Business Acquisition Pro Forma Earnings Per Share Diluted
BusinessAcquisitionProFormaEarningsPerShareDiluted
1.50
us-gaap Business Acquisition Pro Forma Earnings Per Share Diluted
BusinessAcquisitionProFormaEarningsPerShareDiluted
1.39
CY2013Q2 us-gaap Escrow Deposit
EscrowDeposit
12200000
CY2013Q2 wab Business Acquisition Purchase Price Allocation Goodwill And Intangible Assets
BusinessAcquisitionPurchasePriceAllocationGoodwillAndIntangibleAssets
232000000
CY2013Q2 us-gaap Business Acquisition Purchase Price Allocation Intangible Assets Other Than Goodwill
BusinessAcquisitionPurchasePriceAllocationIntangibleAssetsOtherThanGoodwill
101100000
CY2013Q2 us-gaap Business Acquisition Purchase Price Allocation Goodwill Amount
BusinessAcquisitionPurchasePriceAllocationGoodwillAmount
130900000
CY2013Q2 us-gaap Inventory Raw Materials
InventoryRawMaterials
181125000
CY2012Q4 us-gaap Inventory Raw Materials
InventoryRawMaterials
186341000
CY2013Q2 us-gaap Inventory Work In Process
InventoryWorkInProcess
128881000
CY2012Q4 us-gaap Inventory Work In Process
InventoryWorkInProcess
129605000
CY2013Q2 us-gaap Inventory Finished Goods
InventoryFinishedGoods
95932000
CY2012Q4 us-gaap Inventory Finished Goods
InventoryFinishedGoods
91093000
us-gaap Goodwill Acquired During Period
GoodwillAcquiredDuringPeriod
60115000
us-gaap Goodwill Allocation Adjustment
GoodwillAllocationAdjustment
869000
us-gaap Goodwill Translation And Purchase Accounting Adjustments
GoodwillTranslationAndPurchaseAccountingAdjustments
-12052000
CY2013Q2 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
191309000
CY2012Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
176995000
CY2013Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Next Twelve Months
FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths
8035000
CY2013Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
15295000
CY2013Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
14259000
CY2013Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseYearFour
14106000
CY2013Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseYearFive
12584000
CY2013Q2 us-gaap Indefinite Lived Trademarks
IndefiniteLivedTrademarks
138500000
CY2012Q4 us-gaap Indefinite Lived Trademarks
IndefiniteLivedTrademarks
131300000
CY2013Q2 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
5200000
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
8800000
CY2012Q2 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
3300000
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
6300000
CY2013Q2 us-gaap Long Term Debt
LongTermDebt
396958000
CY2012Q4 us-gaap Long Term Debt
LongTermDebt
317896000
CY2013Q2 us-gaap Long Term Debt Percentage Bearing Variable Interest Rate
LongTermDebtPercentageBearingVariableInterestRate
0.0124
wab Minimum Interest Expense Coverage Ratio
MinimumInterestExpenseCoverageRatio
3.0
wab Maximum Debt To Cash Flow Ratio
MaximumDebtToCashFlowRatio
3.25
CY2012Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
1465678
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriod
116392
us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
199204
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Other Increases Decreases In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOtherIncreasesDecreasesInPeriod
3052
CY2013Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
1379814
CY2013Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
944898
CY2012Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
20.24
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
48.29
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
13.30
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
17.49
CY2013Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
23.61
CY2013Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
18.55
CY2012Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
34487000
wab Share Based Compensation Arrangement By Share Based Payment Award Options Granted Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantedIntrinsicValue
598000
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
7994000
CY2013Q2 wab Share Based Compensation Arrangement By Share Based Payment Award Options Canceled Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsCanceledIntrinsicValue
110000
CY2013Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
41140000
CY2013Q2 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1
32961000
CY2012 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P6Y3M18D
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P6Y4M24D
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
P5Y8M12D
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0.0021
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0.0023
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.0138
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.0134
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.438
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.4495
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P5Y
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P5Y
CY2012Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue
26.69
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Terms Of Award
ShareBasedCompensationArrangementByShareBasedPaymentAwardTermsOfAward
10
CY2013Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Authorized
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized
3800000
wab Share Based Compensation Arrangement Plan Expiration
ShareBasedCompensationArrangementPlanExpiration
2016-10-31
us-gaap Employee Benefits And Share Based Compensation
EmployeeBenefitsAndShareBasedCompensation
11500000
us-gaap Employee Benefits And Share Based Compensation
EmployeeBenefitsAndShareBasedCompensation
10100000
CY2013Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Aggregate Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingAggregateIntrinsicValue
30400000
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
209161000
us-gaap Revenues
Revenues
1193129000
us-gaap Segment Reporting Information Revenue
SegmentReportingInformationRevenue
1193129000
wab Interest Expense And Other Net
InterestExpenseAndOtherNet
7124000
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
187851000
us-gaap Number Of Reportable Segments
NumberOfReportableSegments
2
CY2013Q2 wab Other Assets Including Deferred Income Taxes Current
OtherAssetsIncludingDeferredIncomeTaxesCurrent
81093000
wab Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Performance Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsPerformancePeriod
3
CY2013Q2 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.320
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.310
CY2012Q2 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.337
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.340
CY2013Q2 us-gaap Income Tax Examination Liability Recorded
IncomeTaxExaminationLiabilityRecorded
10700000
CY2012Q4 us-gaap Income Tax Examination Liability Recorded
IncomeTaxExaminationLiabilityRecorded
11300000
CY2013Q2 us-gaap Unrecognized Tax Benefits That Would Impact Effective Tax Rate
UnrecognizedTaxBenefitsThatWouldImpactEffectiveTaxRate
3800000
CY2012Q4 us-gaap Unrecognized Tax Benefits That Would Impact Effective Tax Rate
UnrecognizedTaxBenefitsThatWouldImpactEffectiveTaxRate
3700000
CY2013Q2 us-gaap Income Tax Examination Interest Accrued
IncomeTaxExaminationInterestAccrued
2300000
CY2012Q4 us-gaap Income Tax Examination Interest Accrued
IncomeTaxExaminationInterestAccrued
2500000
CY2013Q2 us-gaap Income Tax Examination Penalties Accrued
IncomeTaxExaminationPenaltiesAccrued
1300000
CY2012Q4 us-gaap Income Tax Examination Penalties Accrued
IncomeTaxExaminationPenaltiesAccrued
1400000
CY2013Q2 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
1600000
CY2013Q2 us-gaap Dividends Cash
DividendsCash
2410000
CY2012Q2 us-gaap Dividends Cash
DividendsCash
1442000
CY2013Q2 us-gaap Undistributed Earnings
UndistributedEarnings
72228000
CY2012Q2 us-gaap Undistributed Earnings
UndistributedEarnings
63270000
CY2013Q2 wab Percentage Of Net Income Allocated To Common Shareholders
PercentageOfNetIncomeAllocatedToCommonShareholders
0.996
CY2012Q2 wab Percentage Of Net Income Allocated To Common Shareholders
PercentageOfNetIncomeAllocatedToCommonShareholders
0.995
CY2013Q2 wab Undistributed Earnings Allocated To Common Shareholders
UndistributedEarningsAllocatedToCommonShareholders
71939000
CY2012Q2 wab Undistributed Earnings Allocated To Common Shareholders
UndistributedEarningsAllocatedToCommonShareholders
62954000
CY2013Q2 us-gaap Dividends Common Stock Stock
DividendsCommonStockStock
-2399000
CY2012Q2 us-gaap Dividends Common Stock Stock
DividendsCommonStockStock
-1435000
CY2013Q2 wab Numerator For Basic And Diluted Earnings Per Common Share
NumeratorForBasicAndDilutedEarningsPerCommonShare
74338000
CY2012Q2 wab Numerator For Basic And Diluted Earnings Per Common Share
NumeratorForBasicAndDilutedEarningsPerCommonShare
64389000
CY2013Q2 wab Amount Of Dilutive Securities Stock Options And Restrictive Stock Units Shares
AmountOfDilutiveSecuritiesStockOptionsAndRestrictiveStockUnitsShares
1340000
CY2012Q2 wab Amount Of Dilutive Securities Stock Options And Restrictive Stock Units Shares
AmountOfDilutiveSecuritiesStockOptionsAndRestrictiveStockUnitsShares
1173000
us-gaap Dividends Cash
DividendsCash
4796000
us-gaap Dividends Cash
DividendsCash
2880000
us-gaap Undistributed Earnings
UndistributedEarnings
139455000
us-gaap Undistributed Earnings
UndistributedEarnings
121093000
wab Percentage Of Net Income Allocated To Common Shareholders
PercentageOfNetIncomeAllocatedToCommonShareholders
0.995
wab Percentage Of Net Income Allocated To Common Shareholders
PercentageOfNetIncomeAllocatedToCommonShareholders
0.995
wab Undistributed Earnings Allocated To Common Shareholders
UndistributedEarningsAllocatedToCommonShareholders
138758000
wab Undistributed Earnings Allocated To Common Shareholders
UndistributedEarningsAllocatedToCommonShareholders
120488000
us-gaap Dividends Common Stock Stock
DividendsCommonStockStock
-4772000
us-gaap Dividends Common Stock Stock
DividendsCommonStockStock
-2865000
wab Numerator For Basic And Diluted Earnings Per Common Share
NumeratorForBasicAndDilutedEarningsPerCommonShare
143530000
wab Numerator For Basic And Diluted Earnings Per Common Share
NumeratorForBasicAndDilutedEarningsPerCommonShare
123353000
wab Amount Of Dilutive Securities Stock Options And Restrictive Stock Units Shares
AmountOfDilutiveSecuritiesStockOptionsAndRestrictiveStockUnitsShares
1363000
wab Amount Of Dilutive Securities Stock Options And Restrictive Stock Units Shares
AmountOfDilutiveSecuritiesStockOptionsAndRestrictiveStockUnitsShares
1187000
CY2013Q2 wab Basic Weighted Average Common Shares Outstanding And Non Vested Restricted Stock Expected To Vest
BasicWeightedAverageCommonSharesOutstandingAndNonVestedRestrictedStockExpectedToVest
96193000
CY2012Q2 wab Basic Weighted Average Common Shares Outstanding And Non Vested Restricted Stock Expected To Vest
BasicWeightedAverageCommonSharesOutstandingAndNonVestedRestrictedStockExpectedToVest
96132000
wab Basic Weighted Average Common Shares Outstanding And Non Vested Restricted Stock Expected To Vest
BasicWeightedAverageCommonSharesOutstandingAndNonVestedRestrictedStockExpectedToVest
95724000
wab Basic Weighted Average Common Shares Outstanding And Non Vested Restricted Stock Expected To Vest
BasicWeightedAverageCommonSharesOutstandingAndNonVestedRestrictedStockExpectedToVest
95978000
CY2012Q4 us-gaap Extended Product Warranty Accrual
ExtendedProductWarrantyAccrual
58212000
CY2011Q4 us-gaap Extended Product Warranty Accrual
ExtendedProductWarrantyAccrual
50640000
us-gaap Product Warranty Accrual Warranties Issued
ProductWarrantyAccrualWarrantiesIssued
13851000
us-gaap Product Warranty Accrual Warranties Issued
ProductWarrantyAccrualWarrantiesIssued
12938000
us-gaap Product Warranty Accrual Additions From Business Acquisition
ProductWarrantyAccrualAdditionsFromBusinessAcquisition
1776000
us-gaap Product Warranty Accrual Additions From Business Acquisition
ProductWarrantyAccrualAdditionsFromBusinessAcquisition
294000
us-gaap Product Warranty Accrual Payments
ProductWarrantyAccrualPayments
10665000
us-gaap Product Warranty Accrual Payments
ProductWarrantyAccrualPayments
7801000
us-gaap Product Warranty Accrual Currency Translation Increase Decrease
ProductWarrantyAccrualCurrencyTranslationIncreaseDecrease
-1400000
us-gaap Product Warranty Accrual Currency Translation Increase Decrease
ProductWarrantyAccrualCurrencyTranslationIncreaseDecrease
-24000
CY2013Q2 us-gaap Extended Product Warranty Accrual
ExtendedProductWarrantyAccrual
61774000
CY2012Q2 us-gaap Extended Product Warranty Accrual
ExtendedProductWarrantyAccrual
56047000
CY2013Q2 us-gaap Derivative Financial Instruments Liabilities Fair Value Disclosure
DerivativeFinancialInstrumentsLiabilitiesFairValueDisclosure
2785000
CY2012Q4 us-gaap Derivative Financial Instruments Liabilities Fair Value Disclosure
DerivativeFinancialInstrumentsLiabilitiesFairValueDisclosure
4070000
CY2013Q2 us-gaap Noncurrent Assets
NoncurrentAssets
40651000
CY2013Q2 us-gaap Other Long Term Debt Noncurrent
OtherLongTermDebtNoncurrent
189497000
CY2012Q4 wab Other Assets Including Deferred Income Taxes Current
OtherAssetsIncludingDeferredIncomeTaxesCurrent
80218000
CY2012Q4 us-gaap Noncurrent Assets
NoncurrentAssets
40173000
wab Loss Contingency Amount Of Damages Previously Awarded And Expected To Be Reduced
LossContingencyAmountOfDamagesPreviouslyAwardedAndExpectedToBeReduced
15000000
us-gaap Loss Contingency Damages Paid Value
LossContingencyDamagesPaidValue
15800000
CY2013Q2 us-gaap Revenues
Revenues
638002000
CY2013Q2 us-gaap Segment Reporting Information Revenue
SegmentReportingInformationRevenue
638002000
CY2013Q2 wab Interest Expense And Other Net
InterestExpenseAndOtherNet
2865000
CY2013Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
109689000
CY2012Q2 us-gaap Revenues
Revenues
609820000
CY2012Q2 us-gaap Segment Reporting Information Revenue
SegmentReportingInformationRevenue
609820000
CY2012Q2 wab Interest Expense And Other Net
InterestExpenseAndOtherNet
3286000
CY2012Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
97579000
us-gaap Revenues
Revenues
1253512000
us-gaap Segment Reporting Information Revenue
SegmentReportingInformationRevenue
1253512000
wab Interest Expense And Other Net
InterestExpenseAndOtherNet
7060000
CY2012Q4 us-gaap Other Long Term Debt Noncurrent
OtherLongTermDebtNoncurrent
198613000
CY2013Q2 us-gaap Senior Notes
SeniorNotes
150000000
CY2013Q2 us-gaap Foreign Currency Transaction Gain Loss Realized
ForeignCurrencyTransactionGainLossRealized
-1004000
CY2012Q2 us-gaap Foreign Currency Transaction Gain Loss Realized
ForeignCurrencyTransactionGainLossRealized
631000
us-gaap Foreign Currency Transaction Gain Loss Realized
ForeignCurrencyTransactionGainLossRealized
-1931000
us-gaap Foreign Currency Transaction Gain Loss Realized
ForeignCurrencyTransactionGainLossRealized
1041000
CY2013Q2 us-gaap Other Nonoperating Income
OtherNonoperatingIncome
1410000
CY2012Q2 us-gaap Other Nonoperating Income
OtherNonoperatingIncome
-408000
us-gaap Other Nonoperating Income
OtherNonoperatingIncome
1756000
us-gaap Other Nonoperating Income
OtherNonoperatingIncome
-932000

Files In Submission

Name View Source Status
0001564590-13-000125-index-headers.html Edgar Link pending
0001564590-13-000125-index.html Edgar Link pending
0001564590-13-000125.txt Edgar Link pending
0001564590-13-000125-xbrl.zip Edgar Link pending
FilingSummary.xml Edgar Link unprocessable
Financial_Report.xls Edgar Link pending
R1.htm Edgar Link pending
R1.xml Edgar Link unprocessable
R10.htm Edgar Link pending
R10.xml Edgar Link unprocessable
R11.htm Edgar Link pending
R11.xml Edgar Link unprocessable
R12.htm Edgar Link pending
R12.xml Edgar Link unprocessable
R13.htm Edgar Link pending
R13.xml Edgar Link unprocessable
R14.htm Edgar Link pending
R14.xml Edgar Link unprocessable
R15.htm Edgar Link pending
R15.xml Edgar Link unprocessable
R16.htm Edgar Link pending
R16.xml Edgar Link unprocessable
R17.htm Edgar Link pending
R17.xml Edgar Link unprocessable
R18.htm Edgar Link pending
R18.xml Edgar Link unprocessable
R19.htm Edgar Link pending
R19.xml Edgar Link unprocessable
R2.htm Edgar Link pending
R2.xml Edgar Link unprocessable
R20.htm Edgar Link pending
R20.xml Edgar Link unprocessable
R21.htm Edgar Link pending
R21.xml Edgar Link unprocessable
R22.htm Edgar Link pending
R22.xml Edgar Link unprocessable
R23.htm Edgar Link pending
R23.xml Edgar Link unprocessable
R24.htm Edgar Link pending
R24.xml Edgar Link unprocessable
R25.htm Edgar Link pending
R25.xml Edgar Link unprocessable
R26.htm Edgar Link pending
R26.xml Edgar Link unprocessable
R27.htm Edgar Link pending
R27.xml Edgar Link unprocessable
R28.htm Edgar Link pending
R28.xml Edgar Link unprocessable
R29.htm Edgar Link pending
R29.xml Edgar Link unprocessable
R3.htm Edgar Link pending
R3.xml Edgar Link unprocessable
R30.htm Edgar Link pending
R30.xml Edgar Link unprocessable
R31.htm Edgar Link pending
R31.xml Edgar Link unprocessable
R32.htm Edgar Link pending
R32.xml Edgar Link unprocessable
R33.htm Edgar Link pending
R33.xml Edgar Link unprocessable
R34.htm Edgar Link pending
R34.xml Edgar Link unprocessable
R35.htm Edgar Link pending
R35.xml Edgar Link unprocessable
R36.htm Edgar Link pending
R36.xml Edgar Link unprocessable
R37.htm Edgar Link pending
R37.xml Edgar Link unprocessable
R38.htm Edgar Link pending
R38.xml Edgar Link unprocessable
R39.htm Edgar Link pending
R39.xml Edgar Link unprocessable
R4.htm Edgar Link pending
R4.xml Edgar Link unprocessable
R40.htm Edgar Link pending
R40.xml Edgar Link unprocessable
R41.htm Edgar Link pending
R41.xml Edgar Link unprocessable
R42.htm Edgar Link pending
R42.xml Edgar Link unprocessable
R43.htm Edgar Link pending
R43.xml Edgar Link unprocessable
R44.htm Edgar Link pending
R44.xml Edgar Link unprocessable
R45.htm Edgar Link pending
R45.xml Edgar Link unprocessable
R46.htm Edgar Link pending
R46.xml Edgar Link unprocessable
R47.htm Edgar Link pending
R47.xml Edgar Link unprocessable
R48.htm Edgar Link pending
R48.xml Edgar Link unprocessable
R49.htm Edgar Link pending
R49.xml Edgar Link unprocessable
R5.htm Edgar Link pending
R5.xml Edgar Link unprocessable
R50.htm Edgar Link pending
R50.xml Edgar Link unprocessable
R51.htm Edgar Link pending
R51.xml Edgar Link unprocessable
R52.htm Edgar Link pending
R52.xml Edgar Link unprocessable
R53.htm Edgar Link pending
R53.xml Edgar Link unprocessable
R54.htm Edgar Link pending
R54.xml Edgar Link unprocessable
R55.htm Edgar Link pending
R55.xml Edgar Link unprocessable
R56.htm Edgar Link pending
R56.xml Edgar Link unprocessable
R57.htm Edgar Link pending
R57.xml Edgar Link unprocessable
R58.htm Edgar Link pending
R58.xml Edgar Link unprocessable
R59.htm Edgar Link pending
R59.xml Edgar Link unprocessable
R6.htm Edgar Link pending
R6.xml Edgar Link unprocessable
R60.htm Edgar Link pending
R60.xml Edgar Link unprocessable
R61.htm Edgar Link pending
R61.xml Edgar Link unprocessable
R62.htm Edgar Link pending
R62.xml Edgar Link unprocessable
R63.htm Edgar Link pending
R63.xml Edgar Link unprocessable
R64.htm Edgar Link pending
R64.xml Edgar Link unprocessable
R65.htm Edgar Link pending
R65.xml Edgar Link unprocessable
R66.htm Edgar Link pending
R66.xml Edgar Link unprocessable
R67.htm Edgar Link pending
R67.xml Edgar Link unprocessable
R68.htm Edgar Link pending
R68.xml Edgar Link unprocessable
R69.htm Edgar Link pending
R69.xml Edgar Link unprocessable
R7.htm Edgar Link pending
R7.xml Edgar Link unprocessable
R70.htm Edgar Link pending
R70.xml Edgar Link unprocessable
R71.htm Edgar Link pending
R71.xml Edgar Link unprocessable
R72.htm Edgar Link pending
R72.xml Edgar Link unprocessable
R73.htm Edgar Link pending
R73.xml Edgar Link unprocessable
R8.htm Edgar Link pending
R8.xml Edgar Link unprocessable
R9.htm Edgar Link pending
R9.xml Edgar Link unprocessable
report.css Edgar Link pending
Show.js Edgar Link pending
wab-10q_20130630.htm Edgar Link pending
wab-20130630.xml Edgar Link completed
wab-20130630.xsd Edgar Link pending
wab-20130630_cal.xml Edgar Link unprocessable
wab-20130630_def.xml Edgar Link unprocessable
wab-20130630_lab.xml Edgar Link unprocessable
wab-20130630_pre.xml Edgar Link unprocessable
wab-ex31_2013062949.htm Edgar Link pending
wab-ex31_2013062950.htm Edgar Link pending
wab-ex32_2013062951.htm Edgar Link pending