$WAB
WESTINGHOUSE AIR BRAKE TECHNOLOGIES CORP

2014 Q3 Form 10-Q Financial Statement

#000156459014004721 Filed on October 30, 2014

View on sec.gov

Income Statement

Concept 2014 Q3 2013 Q3
Revenue $797.3M $631.4M
YoY Change 26.27% 7.45%
Cost Of Revenue $549.8M $443.3M
YoY Change 24.04% 6.47%
Gross Profit $247.5M $188.1M
YoY Change 31.53% 9.84%
Gross Profit Margin 31.04% 29.8%
Selling, General & Admin $88.36M $63.40M
YoY Change 39.36% 6.12%
% of Gross Profit 35.71% 33.7%
Research & Development $16.39M $10.92M
YoY Change 50.09% 1.56%
% of Gross Profit 6.62% 5.8%
Depreciation & Amortization $17.10M $12.10M
YoY Change 41.32% 7.08%
% of Gross Profit 6.91% 6.43%
Operating Expenses $111.5M $78.26M
YoY Change 42.45% 5.14%
Operating Profit $136.0M $109.9M
YoY Change 23.76% 13.45%
Interest Expense -$5.000M -$4.800M
YoY Change 4.17% -207.55%
% of Operating Profit -3.68% -4.37%
Other Income/Expense, Net -$154.0K -$656.0K
YoY Change -76.52% -52.91%
Pretax Income $131.2M $104.4M
YoY Change 25.7% 13.01%
Income Tax $41.07M $30.40M
% Of Pretax Income 31.3% 29.12%
Net Earnings $90.16M $73.94M
YoY Change 21.92% 17.38%
Net Earnings / Revenue 11.31% 11.71%
Basic Earnings Per Share $0.94 $0.77
Diluted Earnings Per Share $0.93 $0.76
COMMON SHARES
Basic Shares Outstanding 95.94M shares 95.85M
Diluted Shares Outstanding 97.00M shares 97.17M

Balance Sheet

Concept 2014 Q3 2013 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $213.0M $281.0M
YoY Change -24.2% -0.35%
Cash & Equivalents $212.5M $281.0M
Short-Term Investments
Other Short-Term Assets $117.0M $31.65M
YoY Change 269.69% 46.65%
Inventory $489.0M $400.3M
Prepaid Expenses
Receivables $715.0M $570.3M
Other Receivables $0.00 $0.00
Total Short-Term Assets $1.534B $1.344B
YoY Change 14.1% 13.55%
LONG-TERM ASSETS
Property, Plant & Equipment $342.0M $267.0M
YoY Change 28.11% 16.5%
Goodwill $790.8M
YoY Change 20.37%
Intangibles $173.9M $520.1M
YoY Change -66.57% 26.56%
Long-Term Investments
YoY Change
Other Assets $38.00M $38.70M
YoY Change -1.82% -5.6%
Total Long-Term Assets $1.694B $1.473B
YoY Change 15.04% 21.5%
TOTAL ASSETS
Total Short-Term Assets $1.534B $1.344B
Total Long-Term Assets $1.694B $1.473B
Total Assets $3.228B $2.817B
YoY Change 14.59% 17.57%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $389.0M $288.0M
YoY Change 35.06% 22.27%
Accrued Expenses $210.0M $183.0M
YoY Change 14.75% -8.96%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $1.000M $85.00K
YoY Change 1076.47% 97.67%
Total Short-Term Liabilities $675.0M $541.8M
YoY Change 24.59% 0.2%
LONG-TERM LIABILITIES
Long-Term Debt $521.0M $539.6M
YoY Change -3.45% 24.66%
Other Long-Term Liabilities $99.00M $21.29M
YoY Change 365.09% -0.54%
Total Long-Term Liabilities $620.0M $560.9M
YoY Change 10.54% 23.48%
TOTAL LIABILITIES
Total Short-Term Liabilities $675.0M $541.8M
Total Long-Term Liabilities $620.0M $560.9M
Total Liabilities $1.440B $1.300B
YoY Change 10.78% 11.58%
SHAREHOLDERS EQUITY
Retained Earnings $1.507B
YoY Change 21.94%
Common Stock $1.323M
YoY Change 99.85%
Preferred Stock
YoY Change
Treasury Stock (at cost) $345.6M
YoY Change 4.19%
Treasury Stock Shares $36.04M
Shareholders Equity $1.789B $1.513B
YoY Change
Total Liabilities & Shareholders Equity $3.228B $2.817B
YoY Change 14.59% 17.57%

Cashflow Statement

Concept 2014 Q3 2013 Q3
OPERATING ACTIVITIES
Net Income $90.16M $73.94M
YoY Change 21.92% 17.38%
Depreciation, Depletion And Amortization $17.10M $12.10M
YoY Change 41.32% 7.08%
Cash From Operating Activities $92.50M $39.90M
YoY Change 131.83% -51.93%
INVESTING ACTIVITIES
Capital Expenditures -$12.60M -$9.000M
YoY Change 40.0% 9.76%
Acquisitions
YoY Change
Other Investing Activities -$100.1M -$106.7M
YoY Change -6.19% 714.5%
Cash From Investing Activities -$112.7M -$115.7M
YoY Change -2.59% 440.65%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 7.000M 138.0M
YoY Change -94.93% -1001.96%
NET CHANGE
Cash From Operating Activities 92.50M 39.90M
Cash From Investing Activities -112.7M -115.7M
Cash From Financing Activities 7.000M 138.0M
Net Change In Cash -13.20M 62.20M
YoY Change -121.22% 34.34%
FREE CASH FLOW
Cash From Operating Activities $92.50M $39.90M
Capital Expenditures -$12.60M -$9.000M
Free Cash Flow $105.1M $48.90M
YoY Change 114.93% -46.38%

Facts In Submission

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us-gaap Product Warranty Accrual Payments
ProductWarrantyAccrualPayments
16740000
us-gaap Product Warranty Accrual Currency Translation Increase Decrease
ProductWarrantyAccrualCurrencyTranslationIncreaseDecrease
-980000
us-gaap Product Warranty Accrual Currency Translation Increase Decrease
ProductWarrantyAccrualCurrencyTranslationIncreaseDecrease
-109000
CY2014Q3 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
70712000
CY2013Q3 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
62284000
CY2014Q3 us-gaap Derivative Liabilities Current
DerivativeLiabilitiesCurrent
2389000
CY2013Q4 us-gaap Derivative Liabilities Current
DerivativeLiabilitiesCurrent
3005000
us-gaap Number Of Reportable Segments
NumberOfReportableSegments
2
CY2014Q3 wab Interest Expense And Other Net
InterestExpenseAndOtherNet
4748000
wab Interest Expense And Other Net
InterestExpenseAndOtherNet
13497000
wab Interest Expense And Other Net
InterestExpenseAndOtherNet
12547000
us-gaap Foreign Currency Transaction Gain Loss Realized
ForeignCurrencyTransactionGainLossRealized
-2933000
CY2014Q3 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
301000
CY2013Q3 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-656000
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
626000
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
1100000

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0001564590-14-004721.txt Edgar Link pending
0001564590-14-004721-xbrl.zip Edgar Link pending
FilingSummary.xml Edgar Link unprocessable
Financial_Report.xls Edgar Link pending
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report.css Edgar Link pending
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wab-10q_20140930.htm Edgar Link pending
wab-20140930.xml Edgar Link completed
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wab-20140930_cal.xml Edgar Link unprocessable
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