$WAB
WESTINGHOUSE AIR BRAKE TECHNOLOGIES CORP

2016 Q2 Form 10-Q Financial Statement

#000162828016017885 Filed on July 28, 2016

View on sec.gov

Income Statement

Concept 2016 Q2 2015 Q2
Revenue $723.6M $847.0M
YoY Change -14.57% 15.86%
Cost Of Revenue $486.2M $579.3M
YoY Change -16.06% 14.39%
Gross Profit $237.4M $267.8M
YoY Change -11.34% 19.19%
Gross Profit Margin 32.81% 31.61%
Selling, General & Admin $80.61M $88.99M
YoY Change -9.42% 21.91%
% of Gross Profit 33.96% 33.24%
Research & Development $18.03M $17.75M
YoY Change 1.57% 25.0%
% of Gross Profit 7.59% 6.63%
Depreciation & Amortization $16.90M $16.00M
YoY Change 5.63% 11.89%
% of Gross Profit 7.12% 5.98%
Operating Expenses $104.1M $111.9M
YoY Change -6.97% 21.24%
Operating Profit $133.3M $155.9M
YoY Change -14.48% 17.79%
Interest Expense -$5.000M -$5.600M
YoY Change -10.71% 30.23%
% of Operating Profit -3.75% -3.59%
Other Income/Expense, Net -$1.229M -$1.887M
YoY Change -34.87% 9831.58%
Pretax Income $127.1M $149.9M
YoY Change -15.24% 17.1%
Income Tax $36.60M $48.43M
% Of Pretax Income 28.8% 32.3%
Net Earnings $90.49M $101.5M
YoY Change -10.86% 14.43%
Net Earnings / Revenue 12.5% 11.98%
Basic Earnings Per Share $1.00 $1.05
Diluted Earnings Per Share $1.00 $1.04
COMMON SHARES
Basic Shares Outstanding 89.85M shares 96.34M shares
Diluted Shares Outstanding 90.56M shares 97.44M shares

Balance Sheet

Concept 2016 Q2 2015 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $303.0M $265.0M
YoY Change 14.34% 17.26%
Cash & Equivalents $302.9M $264.8M
Short-Term Investments
Other Short-Term Assets $35.71M $55.64M
YoY Change -35.82% -45.45%
Inventory $493.4M $535.0M
Prepaid Expenses
Receivables $440.9M $680.0M
Other Receivables $0.00 $0.00
Total Short-Term Assets $1.700B $1.580B
YoY Change 7.62% 3.47%
LONG-TERM ASSETS
Property, Plant & Equipment $348.7M $357.0M
YoY Change -2.33% 4.07%
Goodwill $860.0M $864.9M
YoY Change -0.57%
Intangibles $598.1M $628.3M
YoY Change -4.81% 299.96%
Long-Term Investments
YoY Change
Other Assets $39.83M $41.73M
YoY Change -4.56% 12.79%
Total Long-Term Assets $1.679B $1.718B
YoY Change -2.29% 4.96%
TOTAL ASSETS
Total Short-Term Assets $1.700B $1.580B
Total Long-Term Assets $1.679B $1.718B
Total Assets $3.379B $3.298B
YoY Change 2.46% 4.24%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $305.2M $377.5M
YoY Change -19.15% -4.92%
Accrued Expenses $248.0M $223.0M
YoY Change 11.21% 12.63%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $0.00 $0.00
YoY Change -100.0%
Total Short-Term Liabilities $664.6M $699.5M
YoY Change -5.0% 4.72%
LONG-TERM LIABILITIES
Long-Term Debt $744.0M $400.0M
YoY Change 86.0% -20.0%
Other Long-Term Liabilities $23.83M $21.73M
YoY Change 9.64% -76.88%
Total Long-Term Liabilities $23.83M $21.73M
YoY Change 9.64% -96.34%
TOTAL LIABILITIES
Total Short-Term Liabilities $664.6M $699.5M
Total Long-Term Liabilities $23.83M $21.73M
Total Liabilities $1.653B $1.342B
YoY Change 23.22% -4.16%
SHAREHOLDERS EQUITY
Retained Earnings $2.451B $2.095B
YoY Change 16.97%
Common Stock $467.9M $457.8M
YoY Change 2.2%
Preferred Stock
YoY Change
Treasury Stock (at cost) $905.9M $388.0M
YoY Change 133.47%
Treasury Stock Shares 42.23M shares $35.68M
Shareholders Equity $1.723B $1.955B
YoY Change
Total Liabilities & Shareholders Equity $3.379B $3.298B
YoY Change 2.46% 4.24%

Cashflow Statement

Concept 2016 Q2 2015 Q2
OPERATING ACTIVITIES
Net Income $90.49M $101.5M
YoY Change -10.86% 14.43%
Depreciation, Depletion And Amortization $16.90M $16.00M
YoY Change 5.63% 11.89%
Cash From Operating Activities $138.4M $67.20M
YoY Change 105.95% -39.73%
INVESTING ACTIVITIES
Capital Expenditures -$10.60M -$12.40M
YoY Change -14.52% 2.48%
Acquisitions
YoY Change
Other Investing Activities -$21.00M -$24.30M
YoY Change -13.58% -87.89%
Cash From Investing Activities -$31.60M -$36.80M
YoY Change -14.13% -82.7%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -62.20M -23.80M
YoY Change 161.34% -170.83%
NET CHANGE
Cash From Operating Activities 138.4M 67.20M
Cash From Investing Activities -31.60M -36.80M
Cash From Financing Activities -62.20M -23.80M
Net Change In Cash 44.60M 6.600M
YoY Change 575.76% -109.76%
FREE CASH FLOW
Cash From Operating Activities $138.4M $67.20M
Capital Expenditures -$10.60M -$12.40M
Free Cash Flow $149.0M $79.60M
YoY Change 87.19% -35.6%

Facts In Submission

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CY2016Q2 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
3379196000 USD
CY2015Q4 us-gaap Liabilities Current
LiabilitiesCurrent
664776000 USD
CY2016Q2 us-gaap Liabilities Current
LiabilitiesCurrent
664552000 USD
CY2015Q4 us-gaap Long Term Debt And Capital Lease Obligations
LongTermDebtAndCapitalLeaseObligations
691805000 USD
CY2016Q2 us-gaap Long Term Debt And Capital Lease Obligations
LongTermDebtAndCapitalLeaseObligations
744139000 USD
CY2015Q4 us-gaap Long Term Debt And Capital Lease Obligations Current
LongTermDebtAndCapitalLeaseObligationsCurrent
433000 USD
CY2016Q2 us-gaap Long Term Debt And Capital Lease Obligations Current
LongTermDebtAndCapitalLeaseObligationsCurrent
115000 USD
CY2016Q2 us-gaap Long Term Debt Percentage Bearing Variable Interest Rate
LongTermDebtPercentageBearingVariableInterestRate
0.0145
us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
-102157000 USD
us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
-120790000 USD
us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
-40202000 USD
us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
213976000 USD
CY2015Q2 us-gaap Net Income Loss
NetIncomeLoss
101504000 USD
us-gaap Net Income Loss
NetIncomeLoss
197668000 USD
CY2016Q2 us-gaap Net Income Loss
NetIncomeLoss
90485000 USD
us-gaap Net Income Loss
NetIncomeLoss
184648000 USD
CY2015Q4 us-gaap Minority Interest
MinorityInterest
1732000 USD
CY2015Q2 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-1887000 USD
us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-4753000 USD
CY2016Q2 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-1229000 USD
CY2016Q2 us-gaap Minority Interest
MinorityInterest
3302000 USD
us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-1075000 USD
CY2016Q2 us-gaap Number Of Countries In Which Entity Operates
NumberOfCountriesInWhichEntityOperates
20 country
us-gaap Number Of Reportable Segments
NumberOfReportableSegments
2 segment
us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
-143637000 USD
CY2015Q2 us-gaap Operating Expenses
OperatingExpenses
111904000 USD
us-gaap Operating Expenses
OperatingExpenses
218839000 USD
CY2016Q2 us-gaap Operating Expenses
OperatingExpenses
104105000 USD
us-gaap Operating Expenses
OperatingExpenses
217104000 USD
CY2015Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
155860000 USD
us-gaap Operating Income Loss
OperatingIncomeLoss
304280000 USD
CY2016Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
133284000 USD
us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
110926000 USD
us-gaap Operating Income Loss
OperatingIncomeLoss
275465000 USD
CY2015Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
96121000 USD
CY2016Q2 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
108681000 USD
CY2015Q4 us-gaap Other Assets Current
OtherAssetsCurrent
33524000 USD
CY2016Q2 us-gaap Other Assets Current
OtherAssetsCurrent
35713000 USD
CY2015Q4 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
32909000 USD
CY2016Q2 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
39830000 USD
CY2015Q2 us-gaap Other Comprehensive Income Loss Before Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossBeforeTaxPortionAttributableToParent
36209000 USD
us-gaap Other Comprehensive Income Loss Before Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossBeforeTaxPortionAttributableToParent
-49605000 USD
CY2016Q2 us-gaap Other Comprehensive Income Loss Before Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossBeforeTaxPortionAttributableToParent
-40897000 USD
us-gaap Other Comprehensive Income Loss Before Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossBeforeTaxPortionAttributableToParent
-14662000 USD
CY2015Q2 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Before Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentBeforeTax
36082000 USD
us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Before Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentBeforeTax
-51849000 USD
CY2016Q2 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Before Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentBeforeTax
-42330000 USD
us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Before Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentBeforeTax
-10119000 USD
CY2015Q2 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
35889000 USD
us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
-50210000 USD
CY2016Q2 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
-41249000 USD
us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
-13627000 USD
CY2015Q2 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Before Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentBeforeTax
822000 USD
us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Before Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentBeforeTax
-3000000 USD
CY2016Q2 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Before Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentBeforeTax
-2149000 USD
us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Before Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentBeforeTax
1634000 USD
CY2015Q2 us-gaap Other Comprehensive Income Loss Tax Portion Attributable To Parent1
OtherComprehensiveIncomeLossTaxPortionAttributableToParent1
320000 USD
us-gaap Other Comprehensive Income Loss Tax Portion Attributable To Parent1
OtherComprehensiveIncomeLossTaxPortionAttributableToParent1
605000 USD
CY2016Q2 us-gaap Other Comprehensive Income Loss Tax Portion Attributable To Parent1
OtherComprehensiveIncomeLossTaxPortionAttributableToParent1
352000 USD
us-gaap Other Comprehensive Income Loss Tax Portion Attributable To Parent1
OtherComprehensiveIncomeLossTaxPortionAttributableToParent1
-1035000 USD
CY2015Q2 us-gaap Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Before Tax
OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodBeforeTax
949000 USD
us-gaap Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Before Tax
OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodBeforeTax
-756000 USD
CY2016Q2 us-gaap Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Before Tax
OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodBeforeTax
-716000 USD
us-gaap Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Before Tax
OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodBeforeTax
-2909000 USD
CY2015Q4 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
23923000 USD
CY2016Q2 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
23827000 USD
CY2015Q2 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-346000 USD
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-818000 USD
CY2016Q2 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
301000 USD
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
293000 USD
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
0 USD
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
133738000 USD
us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
11580000 USD
us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
14565000 USD
us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
14565000 USD
us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
9006000 USD
us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
100108000 USD
us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
21263000 USD
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
20860000 USD
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
19104000 USD
CY2015Q4 us-gaap Pension And Other Postretirement Defined Benefit Plans Liabilities Noncurrent
PensionAndOtherPostretirementDefinedBenefitPlansLiabilitiesNoncurrent
55765000 USD
CY2016Q2 us-gaap Pension And Other Postretirement Defined Benefit Plans Liabilities Noncurrent
PensionAndOtherPostretirementDefinedBenefitPlansLiabilitiesNoncurrent
56487000 USD
CY2015Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
1000000 shares
CY2016Q2 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
1000000 shares
CY2015Q4 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2016Q2 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2015Q4 us-gaap Preferred Stock Value
PreferredStockValue
0 USD
CY2016Q2 us-gaap Preferred Stock Value
PreferredStockValue
0 USD
us-gaap Proceeds From Issuance Of Long Term Debt And Capital Securities Net
ProceedsFromIssuanceOfLongTermDebtAndCapitalSecuritiesNet
174300000 USD
us-gaap Proceeds From Issuance Of Long Term Debt And Capital Securities Net
ProceedsFromIssuanceOfLongTermDebtAndCapitalSecuritiesNet
230000000 USD
us-gaap Proceeds From Issuance Of Shares Under Incentive And Share Based Compensation Plans Including Stock Options
ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlansIncludingStockOptions
1409000 USD
us-gaap Proceeds From Issuance Of Shares Under Incentive And Share Based Compensation Plans Including Stock Options
ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlansIncludingStockOptions
651000 USD
us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
178000 USD
us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
165000 USD
CY2014Q4 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
87849000 USD
CY2015Q2 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
96653000 USD
CY2015Q4 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
92064000 USD
CY2016Q2 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
96346000 USD
us-gaap Product Warranty Accrual Additions From Business Acquisition
ProductWarrantyAccrualAdditionsFromBusinessAcquisition
6001000 USD
us-gaap Product Warranty Accrual Additions From Business Acquisition
ProductWarrantyAccrualAdditionsFromBusinessAcquisition
7547000 USD
CY2015Q4 us-gaap Product Warranty Accrual Classified Current
ProductWarrantyAccrualClassifiedCurrent
72678000 USD
CY2016Q2 us-gaap Product Warranty Accrual Classified Current
ProductWarrantyAccrualClassifiedCurrent
77566000 USD
CY2015Q4 us-gaap Product Warranty Accrual Noncurrent
ProductWarrantyAccrualNoncurrent
19386000 USD
CY2016Q2 us-gaap Product Warranty Accrual Noncurrent
ProductWarrantyAccrualNoncurrent
18780000 USD
us-gaap Product Warranty Accrual Payments
ProductWarrantyAccrualPayments
10538000 USD
us-gaap Product Warranty Accrual Payments
ProductWarrantyAccrualPayments
20422000 USD
us-gaap Product Warranty Accrual Warranties Issued
ProductWarrantyAccrualWarrantiesIssued
14043000 USD
us-gaap Product Warranty Accrual Warranties Issued
ProductWarrantyAccrualWarrantiesIssued
17853000 USD
CY2015Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
717295000 USD
CY2016Q2 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
730050000 USD
CY2015Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
353193000 USD
CY2016Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
348650000 USD
CY2015Q4 us-gaap Provision For Loss On Contracts
ProvisionForLossOnContracts
11800000 USD
CY2016Q2 us-gaap Provision For Loss On Contracts
ProvisionForLossOnContracts
16700000 USD
us-gaap Repayments Of Long Term Debt And Capital Securities
RepaymentsOfLongTermDebtAndCapitalSecurities
294589000 USD
us-gaap Repayments Of Long Term Debt And Capital Securities
RepaymentsOfLongTermDebtAndCapitalSecurities
175499000 USD
CY2015Q2 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
17750000 USD
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
34613000 USD
CY2016Q2 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
18029000 USD
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
35982000 USD
CY2015Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
2280801000 USD
CY2016Q2 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
2450884000 USD
CY2015Q2 us-gaap Sales Revenue Net
SalesRevenueNet
847028000 USD
us-gaap Sales Revenue Net
SalesRevenueNet
1665622000 USD
CY2016Q2 us-gaap Sales Revenue Net
SalesRevenueNet
723601000 USD
us-gaap Sales Revenue Net
SalesRevenueNet
1495632000 USD
CY2015Q2 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
88992000 USD
us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
173763000 USD
CY2016Q2 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
80610000 USD
us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
170361000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
14989000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
9673000 USD
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Forfeitures Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeituresWeightedAverageGrantDateFairValue
70.48
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
62.20
CY2015Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue
65.89
CY2016Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue
70.85
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
52.12
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0.0014
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0.0026
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.273
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.269
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.0182
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.0147
CY2016Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
941442 shares
CY2016Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
27.17
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
1132000 USD
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
5321 shares
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriod
94115 shares
CY2015Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
42154000 USD
CY2016Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
40825000 USD
CY2015Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
1097323 shares
CY2016Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
1159967 shares
CY2015Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
32.70
CY2016Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
35.00
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
26.89
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
69.37
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
61.39
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
CY2016Q2 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1
40501000 USD
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
P3Y1M299D
CY2015 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P4Y9M18D
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P4Y8M15D
CY2016Q2 us-gaap Significant Change In Unrecognized Tax Benefits Is Reasonably Possible Amount Of Unrecorded Benefit
SignificantChangeInUnrecognizedTaxBenefitsIsReasonablyPossibleAmountOfUnrecordedBenefit
2100000 USD
us-gaap Standard And Extended Product Warranty Accrual Foreign Currency Translation Gain Loss
StandardAndExtendedProductWarrantyAccrualForeignCurrencyTranslationGainLoss
-702000 USD
us-gaap Standard And Extended Product Warranty Accrual Foreign Currency Translation Gain Loss
StandardAndExtendedProductWarrantyAccrualForeignCurrencyTranslationGainLoss
-696000 USD
us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
26150 shares
CY2015Q4 us-gaap Stockholders Equity
StockholdersEquity
1699607000 USD
CY2016Q2 us-gaap Stockholders Equity
StockholdersEquity
1722537000 USD
CY2015Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
1701339000 USD
CY2016Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
1725839000 USD
CY2015Q4 us-gaap Treasury Stock Shares
TreasuryStockShares
40513428 shares
CY2016Q2 us-gaap Treasury Stock Shares
TreasuryStockShares
42230042 shares
CY2015Q4 us-gaap Treasury Stock Value
TreasuryStockValue
775124000 USD
CY2016Q2 us-gaap Treasury Stock Value
TreasuryStockValue
905877000 USD
CY2015Q4 us-gaap Unbilled Receivables Current
UnbilledReceivablesCurrent
103814000 USD
CY2015Q4 us-gaap Unbilled Receivables Current
UnbilledReceivablesCurrent
103800000 USD
CY2016Q2 us-gaap Unbilled Receivables Current
UnbilledReceivablesCurrent
145500000 USD
CY2016Q2 us-gaap Unbilled Receivables Current
UnbilledReceivablesCurrent
145451000 USD
CY2015Q2 us-gaap Undistributed Earnings
UndistributedEarnings
95705000 USD
us-gaap Undistributed Earnings
UndistributedEarnings
186088000 USD
CY2016Q2 us-gaap Undistributed Earnings
UndistributedEarnings
83276000 USD
us-gaap Undistributed Earnings
UndistributedEarnings
170083000 USD
CY2015Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
10600000 USD
CY2016Q2 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
10600000 USD
CY2015Q4 us-gaap Unrecognized Tax Benefits That Would Impact Effective Tax Rate
UnrecognizedTaxBenefitsThatWouldImpactEffectiveTaxRate
4300000 USD
CY2016Q2 us-gaap Unrecognized Tax Benefits That Would Impact Effective Tax Rate
UnrecognizedTaxBenefitsThatWouldImpactEffectiveTaxRate
4300000 USD
CY2015Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
97435000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
97112000 shares
CY2016Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
90559000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
91628000 shares
CY2015Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
96338000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
96066000 shares
CY2016Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
89846000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
90832000 shares
CY2015Q2 wab Basic Weighted Average Common Shares Outstanding And Non Vested Restricted Stock Expected To Vest
BasicWeightedAverageCommonSharesOutstandingAndNonVestedRestrictedStockExpectedToVest
96620000 shares
wab Basic Weighted Average Common Shares Outstanding And Non Vested Restricted Stock Expected To Vest
BasicWeightedAverageCommonSharesOutstandingAndNonVestedRestrictedStockExpectedToVest
96406000 shares
CY2016Q2 wab Basic Weighted Average Common Shares Outstanding And Non Vested Restricted Stock Expected To Vest
BasicWeightedAverageCommonSharesOutstandingAndNonVestedRestrictedStockExpectedToVest
90101000 shares
wab Basic Weighted Average Common Shares Outstanding And Non Vested Restricted Stock Expected To Vest
BasicWeightedAverageCommonSharesOutstandingAndNonVestedRestrictedStockExpectedToVest
91111000 shares
CY2015Q3 wab Business Acquisition Consolidated Revenue After Acquisition
BusinessAcquisitionConsolidatedRevenueAfterAcquisition
4500000000 USD
CY2015Q2 wab Business Acquisition Pro Forma Gross Profit
BusinessAcquisitionProFormaGrossProfit
274251000 USD
wab Business Acquisition Pro Forma Gross Profit
BusinessAcquisitionProFormaGrossProfit
537425000 USD
CY2016Q2 wab Business Acquisition Pro Forma Gross Profit
BusinessAcquisitionProFormaGrossProfit
237604000 USD
wab Business Acquisition Pro Forma Gross Profit
BusinessAcquisitionProFormaGrossProfit
493605000 USD
CY2015Q3 wab Convertible Preferred Stock Conversion Period
ConvertiblePreferredStockConversionPeriod
P3Y
CY2015Q2 wab Dividends Declared Common Shares
DividendsDeclaredCommonShares
5782000 USD
wab Dividends Declared Common Shares
DividendsDeclaredCommonShares
11539000 USD
CY2016Q2 wab Dividends Declared Common Shares
DividendsDeclaredCommonShares
7189000 USD
wab Dividends Declared Common Shares
DividendsDeclaredCommonShares
14520000 USD
wab Increase Decrease In Accrued Liabilities And Customer Deposits
IncreaseDecreaseInAccruedLiabilitiesAndCustomerDeposits
-27089000 USD
wab Increase Decrease In Accrued Liabilities And Customer Deposits
IncreaseDecreaseInAccruedLiabilitiesAndCustomerDeposits
3505000 USD
CY2015Q2 wab Interest Expense And Other Net
InterestExpenseAndOtherNet
5928000 USD
wab Interest Expense And Other Net
InterestExpenseAndOtherNet
13100000 USD
CY2016Q2 wab Interest Expense And Other Net
InterestExpenseAndOtherNet
6198000 USD
wab Interest Expense And Other Net
InterestExpenseAndOtherNet
10915000 USD
CY2015Q2 wab Numerator For Basic And Diluted Earnings Per Common Share
NumeratorForBasicAndDilutedEarningsPerCommonShare
101200000 USD
wab Numerator For Basic And Diluted Earnings Per Common Share
NumeratorForBasicAndDilutedEarningsPerCommonShare
196883000 USD
CY2016Q2 wab Numerator For Basic And Diluted Earnings Per Common Share
NumeratorForBasicAndDilutedEarningsPerCommonShare
90215000 USD
wab Numerator For Basic And Diluted Earnings Per Common Share
NumeratorForBasicAndDilutedEarningsPerCommonShare
184093000 USD
CY2015Q4 wab Other Assets Non Current Including Goodwill And Intangible Assets Net
OtherAssetsNonCurrentIncludingGoodwillAndIntangibleAssetsNet
1331975000 USD
CY2016Q2 wab Other Assets Non Current Including Goodwill And Intangible Assets Net
OtherAssetsNonCurrentIncludingGoodwillAndIntangibleAssetsNet
1330188000 USD
CY2015Q2 wab Percentage Of Net Income Allocated To Common Shareholders
PercentageOfNetIncomeAllocatedToCommonShareholders
0.997
wab Percentage Of Net Income Allocated To Common Shareholders
PercentageOfNetIncomeAllocatedToCommonShareholders
0.996
CY2016Q2 wab Percentage Of Net Income Allocated To Common Shareholders
PercentageOfNetIncomeAllocatedToCommonShareholders
0.997
wab Percentage Of Net Income Allocated To Common Shareholders
PercentageOfNetIncomeAllocatedToCommonShareholders
0.997
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
73.28
CY2016Q2 wab Share Based Compensation Arrangement By Share Based Payment Award Options Canceled Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsCanceledIntrinsicValue
4000 USD
wab Share Based Compensation Arrangement By Share Based Payment Award Options Granted Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantedIntrinsicValue
828000 USD
CY2015Q2 wab Undistributed Earnings Allocated To Common Shareholders
UndistributedEarningsAllocatedToCommonShareholders
95418000 USD
wab Undistributed Earnings Allocated To Common Shareholders
UndistributedEarningsAllocatedToCommonShareholders
185344000 USD
CY2016Q2 wab Undistributed Earnings Allocated To Common Shareholders
UndistributedEarningsAllocatedToCommonShareholders
83026000 USD
wab Undistributed Earnings Allocated To Common Shareholders
UndistributedEarningsAllocatedToCommonShareholders
169573000 USD
us-gaap Nature Of Operations
NatureOfOperations
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">BUSINESS </font></div><div style="line-height:120%;padding-top:8px;text-align:left;text-indent:37px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Westinghouse Air Brake Technologies Corporation (&#8220;Wabtec&#8221;) 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:inherit;font-size:10pt;">100</font><font style="font-family:inherit;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:inherit;font-size:10pt;">20</font><font style="font-family:inherit;font-size:10pt;"> countries. In the first </font><font style="font-family:inherit;font-size:10pt;">six</font><font style="font-family:inherit;font-size:10pt;"> months of </font><font style="font-family:inherit;font-size:10pt;">2016</font><font style="font-family:inherit;font-size:10pt;">, about </font><font style="font-family:inherit;font-size:10pt;">50%</font><font style="font-family:inherit;font-size:10pt;"> of the Company&#8217;s revenues came from customers outside the U.S.</font></div></div>
us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-top:16px;text-align:left;text-indent:37px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Certain prior year amounts have been reclassified, where necessary, to conform to the current year presentation. </font></div></div>
us-gaap Use Of Estimates
UseOfEstimates
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-top:16px;text-align:left;text-indent:37px;font-size:10pt;"><font style="font-family:inherit;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></div></div>

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