$WAB
WESTINGHOUSE AIR BRAKE TECHNOLOGIES CORP

2017 Q1 Form 10-Q Financial Statement

#000162828017004956 Filed on May 04, 2017

View on sec.gov

Income Statement

Concept 2017 Q1 2016 Q4 2016 Q1
Revenue $916.0M $760.0M $772.0M
YoY Change 18.65% -8.75% -5.69%
Cost Of Revenue $646.3M $540.8M $516.9M
YoY Change 25.05% -4.32% -8.24%
Gross Profit $269.7M $219.2M $255.2M
YoY Change 5.69% -18.1% -0.07%
Gross Profit Margin 29.44% 28.84% 33.05%
Selling, General & Admin $122.7M $130.7M $89.75M
YoY Change 36.7% 43.0% 5.87%
% of Gross Profit 45.49% 59.63% 35.17%
Research & Development $23.46M $19.10M $17.95M
YoY Change 30.7% -1.55% 6.46%
% of Gross Profit 8.7% 8.71% 7.04%
Depreciation & Amortization $25.20M $20.40M $16.20M
YoY Change 55.56% 23.64% 3.85%
% of Gross Profit 9.34% 9.31% 6.35%
Operating Expenses $155.2M $156.4M $113.0M
YoY Change 37.34% 34.36% 5.67%
Operating Profit $114.5M $62.80M $142.2M
YoY Change -19.46% -58.47% -4.2%
Interest Expense -$18.40M -$26.70M -$4.900M
YoY Change 275.51% 1305.26% -26.87%
% of Operating Profit -16.07% -42.52% -3.45%
Other Income/Expense, Net $4.811M -$3.100M $154.0K
YoY Change 3024.03% -105.37%
Pretax Income $99.47M $33.10M $137.5M
YoY Change -27.64% -77.84% -2.68%
Income Tax $27.46M -$13.30M $43.30M
% Of Pretax Income 27.61% -40.18% 31.5%
Net Earnings $73.89M $46.33M $94.16M
YoY Change -21.53% -54.48% -2.08%
Net Earnings / Revenue 8.07% 6.1% 12.2%
Basic Earnings Per Share $0.77 $0.42 $1.03
Diluted Earnings Per Share $0.77 $0.42 $1.02
COMMON SHARES
Basic Shares Outstanding 95.24M shares 89.07M shares 91.26M shares
Diluted Shares Outstanding 95.99M shares 92.15M shares

Balance Sheet

Concept 2017 Q1 2016 Q4 2016 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $280.0M $398.0M $263.0M
YoY Change 6.46% 76.11% 5.62%
Cash & Equivalents $280.2M $1.143B $262.8M
Short-Term Investments
Other Short-Term Assets $130.6M $123.4M $40.27M
YoY Change 224.42% 268.04% -44.84%
Inventory $703.9M $658.5M $478.7M
Prepaid Expenses
Receivables $754.4M $667.6M $475.7M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $2.166B $2.868B $1.687B
YoY Change 28.44% 86.21% 12.14%
LONG-TERM ASSETS
Property, Plant & Equipment $524.1M $518.4M $353.9M
YoY Change 48.09% 46.77% 1.4%
Goodwill $2.189B $2.079B $867.6M
YoY Change 152.24% 142.13%
Intangibles $1.615B $1.564B $605.9M
YoY Change 166.49% 157.32% 262.19%
Long-Term Investments
YoY Change
Other Assets $62.99M $62.39M $35.58M
YoY Change 77.07% 67.55% -8.78%
Total Long-Term Assets $3.865B $3.713B $1.694B
YoY Change 128.11% 119.79% 1.82%
TOTAL ASSETS
Total Short-Term Assets $2.166B $2.868B $1.687B
Total Long-Term Assets $3.865B $3.713B $1.694B
Total Assets $6.031B $6.581B $3.381B
YoY Change 78.39% 103.78% 6.72%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $512.2M $530.2M $304.2M
YoY Change 68.36% 65.94% -20.15%
Accrued Expenses $520.0M $530.0M $253.0M
YoY Change 105.53% 122.69% 22.22%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $87.00M $130.0M $0.00
YoY Change -100.0%
Total Short-Term Liabilities $1.471B $1.447B $657.7M
YoY Change 123.73% 117.61% -5.51%
LONG-TERM LIABILITIES
Long-Term Debt $1.783B $1.763B $802.0M
YoY Change 122.32% 154.77% 90.95%
Other Long-Term Liabilities $25.90M $22.51M $23.64M
YoY Change 9.56% -2.05% -80.3%
Total Long-Term Liabilities $408.1M $394.6M $23.64M
YoY Change 1626.09% 129.96% -95.62%
TOTAL LIABILITIES
Total Short-Term Liabilities $1.471B $1.447B $657.7M
Total Long-Term Liabilities $408.1M $394.6M $23.64M
Total Liabilities $3.662B $3.604B $1.702B
YoY Change 115.12% 135.85% 26.01%
SHAREHOLDERS EQUITY
Retained Earnings $2.618B $2.553B $2.368B
YoY Change 10.56% 11.95%
Common Stock $895.7M $871.3M $464.1M
YoY Change 92.98% 85.12%
Preferred Stock
YoY Change
Treasury Stock (at cost) $830.0M $839.0M $906.1M
YoY Change -8.39% 8.23%
Treasury Stock Shares 36.45M shares 36.92M shares 42.25M shares
Shareholders Equity $2.352B $2.206B $1.677B
YoY Change
Total Liabilities & Shareholders Equity $6.031B $6.581B $3.381B
YoY Change 78.39% 103.78% 6.72%

Cashflow Statement

Concept 2017 Q1 2016 Q4 2016 Q1
OPERATING ACTIVITIES
Net Income $73.89M $46.33M $94.16M
YoY Change -21.53% -54.48% -2.08%
Depreciation, Depletion And Amortization $25.20M $20.40M $16.20M
YoY Change 55.56% 23.64% 3.85%
Cash From Operating Activities -$26.10M $203.6M $75.57M
YoY Change -134.53% 4.14% 72.92%
INVESTING ACTIVITIES
Capital Expenditures $19.33M -$18.50M $8.504M
YoY Change 127.27% 13.5% 0.54%
Acquisitions $800.1M $210.0K
YoY Change 380890.95% -99.72%
Other Investing Activities -$799.8M -$98.60M -$100.0K
YoY Change 799700.0% 352.29% -99.87%
Cash From Investing Activities -$819.1M -$117.1M -$8.600M
YoY Change 9424.7% 207.35% -89.76%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $0.00 $133.7M
YoY Change -100.0%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -$39.47M 635.3M -40.00M
YoY Change -1.32% -586.07% -66.61%
NET CHANGE
Cash From Operating Activities -$26.10M 203.6M $75.57M
Cash From Investing Activities -$819.1M -117.1M -8.600M
Cash From Financing Activities -$39.47M 635.3M -40.00M
Net Change In Cash -$884.7M 721.8M $75.57M
YoY Change -1270.76% 2603.37% -147.2%
FREE CASH FLOW
Cash From Operating Activities -$26.10M $203.6M $75.57M
Capital Expenditures $19.33M -$18.50M $8.504M
Free Cash Flow -$45.42M $222.1M $67.06M
YoY Change -167.73% 4.86% 90.29%

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1762967000 USD
CY2017Q1 us-gaap Long Term Debt And Capital Lease Obligations
LongTermDebtAndCapitalLeaseObligations
1782624000 USD
CY2016Q4 us-gaap Long Term Debt And Capital Lease Obligations Current
LongTermDebtAndCapitalLeaseObligationsCurrent
129809000 USD
CY2017Q1 us-gaap Long Term Debt And Capital Lease Obligations Current
LongTermDebtAndCapitalLeaseObligationsCurrent
87373000 USD
CY2017Q1 us-gaap Long Term Debt Percentage Bearing Variable Interest Rate
LongTermDebtPercentageBearingVariableInterestRate
0.0261
CY2016Q4 us-gaap Minority Interest
MinorityInterest
770848000 USD
CY2017Q1 us-gaap Minority Interest
MinorityInterest
17177000 USD
CY2016Q1 us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
-40037000 USD
CY2017Q1 us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
-39473000 USD
CY2016Q1 us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
-8630000 USD
CY2017Q1 us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
-63076000 USD
CY2016Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
75566000 USD
CY2017Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-26096000 USD
CY2016Q1 us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
75566000 USD
CY2017Q1 us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
-26096000 USD
CY2016Q1 us-gaap Net Income Loss
NetIncomeLoss
94163000 USD
CY2017Q1 us-gaap Net Income Loss
NetIncomeLoss
73889000 USD
CY2016Q1 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
0 USD
CY2017Q1 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
-1885000 USD
CY2016Q1 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
154000 USD
CY2017Q1 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
2319000 USD
CY2017Q1 us-gaap Number Of Countries In Which Entity Operates
NumberOfCountriesInWhichEntityOperates
30 country
CY2017Q1 us-gaap Number Of Reportable Segments
NumberOfReportableSegments
2 segment
CY2016Q1 us-gaap Operating Expenses
OperatingExpenses
112999000 USD
CY2017Q1 us-gaap Operating Expenses
OperatingExpenses
154849000 USD
CY2016Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
142181000 USD
CY2017Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
114858000 USD
CY2016Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
261514000 USD
CY2017Q1 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
254626000 USD
CY2016Q4 us-gaap Other Assets Current
OtherAssetsCurrent
123381000 USD
CY2017Q1 us-gaap Other Assets Current
OtherAssetsCurrent
130631000 USD
CY2016Q4 us-gaap Other Assets Miscellaneous Current
OtherAssetsMiscellaneousCurrent
868129000 USD
CY2017Q1 us-gaap Other Assets Miscellaneous Current
OtherAssetsMiscellaneousCurrent
130631000 USD
CY2016Q4 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
62386000 USD
CY2017Q1 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
62992000 USD
CY2016Q1 us-gaap Other Comprehensive Income Loss Before Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossBeforeTaxPortionAttributableToParent
26235000 USD
CY2017Q1 us-gaap Other Comprehensive Income Loss Before Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossBeforeTaxPortionAttributableToParent
48014000 USD
CY2016Q1 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Before Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentBeforeTax
32211000 USD
CY2017Q1 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Before Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentBeforeTax
49395000 USD
CY2016Q1 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
27622000 USD
CY2017Q1 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
47953000 USD
CY2016Q1 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Before Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentBeforeTax
3783000 USD
CY2017Q1 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Before Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentBeforeTax
3074000 USD
CY2016Q1 us-gaap Other Comprehensive Income Loss Tax Portion Attributable To Parent1
OtherComprehensiveIncomeLossTaxPortionAttributableToParent1
-1387000 USD
CY2017Q1 us-gaap Other Comprehensive Income Loss Tax Portion Attributable To Parent1
OtherComprehensiveIncomeLossTaxPortionAttributableToParent1
61000 USD
CY2016Q1 us-gaap Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Before Tax
OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodBeforeTax
-2193000 USD
CY2017Q1 us-gaap Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Before Tax
OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodBeforeTax
1693000 USD
CY2016Q4 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
22508000 USD
CY2017Q1 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
25903000 USD
CY2016Q1 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-8000 USD
CY2017Q1 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
1106000 USD
CY2016Q1 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
133738000 USD
CY2017Q1 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
0 USD
CY2016Q1 us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
7355000 USD
CY2017Q1 us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
9572000 USD
CY2016Q1 us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
9006000 USD
CY2017Q1 us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
6842000 USD
CY2016Q1 us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
210000 USD
CY2017Q1 us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
67581000 USD
CY2016Q1 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
8504000 USD
CY2017Q1 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
19327000 USD
CY2016Q4 us-gaap Pension And Other Postretirement Defined Benefit Plans Liabilities Noncurrent
PensionAndOtherPostretirementDefinedBenefitPlansLiabilitiesNoncurrent
110597000 USD
CY2017Q1 us-gaap Pension And Other Postretirement Defined Benefit Plans Liabilities Noncurrent
PensionAndOtherPostretirementDefinedBenefitPlansLiabilitiesNoncurrent
110120000 USD
CY2016Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
1000000 shares
CY2017Q1 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
1000000 shares
CY2016Q4 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2017Q1 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2016Q4 us-gaap Preferred Stock Value
PreferredStockValue
0 USD
CY2017Q1 us-gaap Preferred Stock Value
PreferredStockValue
0 USD
CY2016Q1 us-gaap Proceeds From Issuance Of Long Term Debt And Capital Securities Net
ProceedsFromIssuanceOfLongTermDebtAndCapitalSecuritiesNet
195000000 USD
CY2017Q1 us-gaap Proceeds From Issuance Of Long Term Debt And Capital Securities Net
ProceedsFromIssuanceOfLongTermDebtAndCapitalSecuritiesNet
458273000 USD
CY2016Q1 us-gaap Proceeds From Issuance Of Shares Under Incentive And Share Based Compensation Plans Including Stock Options
ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlansIncludingStockOptions
515000 USD
CY2017Q1 us-gaap Proceeds From Issuance Of Shares Under Incentive And Share Based Compensation Plans Including Stock Options
ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlansIncludingStockOptions
1259000 USD
CY2016Q1 us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
84000 USD
CY2017Q1 us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
284000 USD
CY2015Q4 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
92064000 USD
CY2016Q1 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
95632000 USD
CY2016Q4 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
138992000 USD
CY2017Q1 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
137666000 USD
CY2016Q1 us-gaap Product Warranty Accrual Additions From Business Acquisition
ProductWarrantyAccrualAdditionsFromBusinessAcquisition
0 USD
CY2017Q1 us-gaap Product Warranty Accrual Additions From Business Acquisition
ProductWarrantyAccrualAdditionsFromBusinessAcquisition
62000 USD
CY2016Q4 us-gaap Product Warranty Accrual Classified Current
ProductWarrantyAccrualClassifiedCurrent
123190000 USD
CY2017Q1 us-gaap Product Warranty Accrual Classified Current
ProductWarrantyAccrualClassifiedCurrent
123817000 USD
CY2016Q4 us-gaap Product Warranty Accrual Noncurrent
ProductWarrantyAccrualNoncurrent
15802000 USD
CY2017Q1 us-gaap Product Warranty Accrual Noncurrent
ProductWarrantyAccrualNoncurrent
13849000 USD
CY2016Q1 us-gaap Product Warranty Accrual Payments
ProductWarrantyAccrualPayments
7287000 USD
CY2017Q1 us-gaap Product Warranty Accrual Payments
ProductWarrantyAccrualPayments
8224000 USD
CY2016Q1 us-gaap Product Warranty Accrual Warranties Issued
ProductWarrantyAccrualWarrantiesIssued
10880000 USD
CY2017Q1 us-gaap Product Warranty Accrual Warranties Issued
ProductWarrantyAccrualWarrantiesIssued
5760000 USD
CY2016Q1 us-gaap Profit Loss
ProfitLoss
94163000 USD
CY2017Q1 us-gaap Profit Loss
ProfitLoss
72004000 USD
CY2016Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
912230000 USD
CY2017Q1 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
935900000 USD
CY2016Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
518376000 USD
CY2017Q1 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
524059000 USD
CY2016Q4 us-gaap Provision For Loss On Contracts
ProvisionForLossOnContracts
60500000 USD
CY2017Q1 us-gaap Provision For Loss On Contracts
ProvisionForLossOnContracts
81400000 USD
CY2016Q4 us-gaap Receivables Net Current
ReceivablesNetCurrent
942508000 USD
CY2017Q1 us-gaap Receivables Net Current
ReceivablesNetCurrent
1051542000 USD
CY2017Q1 us-gaap Repayments Of Debt
RepaymentsOfDebt
39600000 USD
CY2017Q1 us-gaap Repayments Of Debt
RepaymentsOfDebt
18700000 USD
CY2016Q1 us-gaap Repayments Of Long Term Debt And Capital Securities
RepaymentsOfLongTermDebtAndCapitalSecurities
85453000 USD
CY2017Q1 us-gaap Repayments Of Long Term Debt And Capital Securities
RepaymentsOfLongTermDebtAndCapitalSecurities
482591000 USD
CY2016Q1 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
17953000 USD
CY2017Q1 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
23464000 USD
CY2016Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
2553258000 USD
CY2017Q1 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
2617575000 USD
CY2016Q1 us-gaap Sales Revenue Net
SalesRevenueNet
772031000 USD
CY2017Q1 us-gaap Sales Revenue Net
SalesRevenueNet
916034000 USD
CY2016Q1 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
89751000 USD
CY2017Q1 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
122341000 USD
CY2016Q1 us-gaap Share Based Compensation
ShareBasedCompensation
5510000 USD
CY2017Q1 us-gaap Share Based Compensation
ShareBasedCompensation
5692000 USD
CY2017Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Forfeitures Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeituresWeightedAverageGrantDateFairValue
77.20
CY2017Q1 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
87.02
CY2016Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue
72.18
CY2017Q1 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
69.38
CY2016Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0.0026
CY2017Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0.0023
CY2016Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.269
CY2017Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.234
CY2016Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.0147
CY2017Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.0217
CY2017Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
923878 shares
CY2017Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
30.90
CY2017Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
2452000 USD
CY2017Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
471 shares
CY2017Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriod
64507 shares
CY2016Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
52332000 USD
CY2017Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
43783000 USD
CY2016Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
1098823 shares
CY2017Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
1115292 shares
CY2016Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
35.39
CY2017Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
38.74
CY2017Q1 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
26.46
CY2017Q1 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
83.14
CY2017Q1 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
87.05
CY2016Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P5Y
CY2017Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P5Y
CY2017Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1
43513000 USD
CY2017Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
P3Y8M16D
CY2016 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P4Y3M20D
CY2017Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P4Y4M26D
CY2017Q1 us-gaap Significant Change In Unrecognized Tax Benefits Is Reasonably Possible Amount Of Unrecorded Benefit
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4000000 USD
CY2016Q1 us-gaap Standard And Extended Product Warranty Accrual Foreign Currency Translation Gain Loss
StandardAndExtendedProductWarrantyAccrualForeignCurrencyTranslationGainLoss
25000 USD
CY2017Q1 us-gaap Standard And Extended Product Warranty Accrual Foreign Currency Translation Gain Loss
StandardAndExtendedProductWarrantyAccrualForeignCurrencyTranslationGainLoss
-1076000 USD
CY2017Q1 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
47567 shares
CY2016Q4 us-gaap Stockholders Equity
StockholdersEquity
2205977000 USD
CY2017Q1 us-gaap Stockholders Equity
StockholdersEquity
2351591000 USD
CY2016Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
2976825000 USD
CY2017Q1 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
2368768000 USD
CY2016Q4 us-gaap Treasury Stock Shares
TreasuryStockShares
36924102 shares
CY2017Q1 us-gaap Treasury Stock Shares
TreasuryStockShares
36453298 shares
CY2016Q4 us-gaap Treasury Stock Value
TreasuryStockValue
838950000 USD
CY2017Q1 us-gaap Treasury Stock Value
TreasuryStockValue
830032000 USD
CY2016Q4 us-gaap Unbilled Receivables Current
UnbilledReceivablesCurrent
274900000 USD
CY2016Q4 us-gaap Unbilled Receivables Current
UnbilledReceivablesCurrent
274912000 USD
CY2017Q1 us-gaap Unbilled Receivables Current
UnbilledReceivablesCurrent
297184000 USD
CY2017Q1 us-gaap Unbilled Receivables Current
UnbilledReceivablesCurrent
297200000 USD
CY2016Q1 us-gaap Undistributed Earnings
UndistributedEarnings
86808000 USD
CY2017Q1 us-gaap Undistributed Earnings
UndistributedEarnings
64317000 USD
CY2016Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
8400000 USD
CY2017Q1 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
8400000 USD
CY2016Q4 us-gaap Unrecognized Tax Benefits That Would Impact Effective Tax Rate
UnrecognizedTaxBenefitsThatWouldImpactEffectiveTaxRate
4200000 USD
CY2017Q1 us-gaap Unrecognized Tax Benefits That Would Impact Effective Tax Rate
UnrecognizedTaxBenefitsThatWouldImpactEffectiveTaxRate
4200000 USD
CY2016Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
92149000 shares
CY2017Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
95991000 shares
CY2016Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
91258000 shares
CY2017Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
95243000 shares
CY2016Q1 wab Basic Weighted Average Common Shares Outstanding And Non Vested Restricted Stock Expected To Vest
BasicWeightedAverageCommonSharesOutstandingAndNonVestedRestrictedStockExpectedToVest
91543000 shares
CY2017Q1 wab Basic Weighted Average Common Shares Outstanding And Non Vested Restricted Stock Expected To Vest
BasicWeightedAverageCommonSharesOutstandingAndNonVestedRestrictedStockExpectedToVest
95544000 shares
CY2016Q1 wab Business Acquisition Pro Forma Gross Profit
BusinessAcquisitionProFormaGrossProfit
345081000 USD
CY2017Q1 wab Business Acquisition Pro Forma Gross Profit
BusinessAcquisitionProFormaGrossProfit
270605000 USD
CY2016Q1 wab Dividends Declared Common Shares
DividendsDeclaredCommonShares
7332000 USD
CY2017Q1 wab Dividends Declared Common Shares
DividendsDeclaredCommonShares
9542000 USD
CY2016Q1 wab Increase Decrease In Accrued Liabilities And Customer Deposits
IncreaseDecreaseInAccruedLiabilitiesAndCustomerDeposits
-12832000 USD
CY2017Q1 wab Increase Decrease In Accrued Liabilities And Customer Deposits
IncreaseDecreaseInAccruedLiabilitiesAndCustomerDeposits
85303000 USD
CY2016Q4 wab Intercompany Loans
IntercompanyLoans
0 USD
CY2017Q1 wab Intercompany Loans
IntercompanyLoans
0 USD
CY2016Q1 wab Interest Expense And Other Net
InterestExpenseAndOtherNet
4717000 USD
CY2017Q1 wab Interest Expense And Other Net
InterestExpenseAndOtherNet
15393000 USD
CY2016Q1 wab Numerator For Basic And Diluted Earnings Per Common Share
NumeratorForBasicAndDilutedEarningsPerCommonShare
93880000 USD
CY2017Q1 wab Numerator For Basic And Diluted Earnings Per Common Share
NumeratorForBasicAndDilutedEarningsPerCommonShare
73666000 USD
CY2016Q4 wab Other Assets Non Current Including Goodwill And Intangible Assets Net
OtherAssetsNonCurrentIncludingGoodwillAndIntangibleAssetsNet
3195011000 USD
CY2017Q1 wab Other Assets Non Current Including Goodwill And Intangible Assets Net
OtherAssetsNonCurrentIncludingGoodwillAndIntangibleAssetsNet
3340607000 USD
CY2016Q1 wab Percentage Of Net Income Allocated To Common Shareholders
PercentageOfNetIncomeAllocatedToCommonShareholders
0.997
CY2017Q1 wab Percentage Of Net Income Allocated To Common Shareholders
PercentageOfNetIncomeAllocatedToCommonShareholders
0.997
CY2017Q1 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
72.79
CY2017Q1 wab Share Based Compensation Arrangement By Share Based Payment Award Options Canceled Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsCanceledIntrinsicValue
-2000 USD
CY2017Q1 wab Share Based Compensation Arrangement By Share Based Payment Award Options Granted Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantedIntrinsicValue
-584000 USD
CY2016Q1 wab Undistributed Earnings Allocated To Common Shareholders
UndistributedEarningsAllocatedToCommonShareholders
86548000 USD
CY2017Q1 wab Undistributed Earnings Allocated To Common Shareholders
UndistributedEarningsAllocatedToCommonShareholders
64124000 USD
CY2017Q1 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; or the "Company") 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;">30</font><font style="font-family:inherit;font-size:10pt;"> countries. In the first </font><font style="font-family:inherit;font-size:10pt;">three</font><font style="font-family:inherit;font-size:10pt;"> months of </font><font style="font-family:inherit;font-size:10pt;">2017</font><font style="font-family:inherit;font-size:10pt;">, approximately </font><font style="font-family:inherit;font-size:10pt;">65%</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>
CY2017Q1 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>
CY2017Q1 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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