2021 Q4 Form 10-Q Financial Statement

#000162828021020615 Filed on October 27, 2021

View on sec.gov

Income Statement

Concept 2021 Q4 2021 Q3 2020 Q4
Revenue $2.073B $1.907B $2.024B
YoY Change 2.42% 2.24% -14.55%
Cost Of Revenue $1.415B $1.305B $1.518B
YoY Change -6.78% 0.44% -10.35%
Gross Profit $657.4M $602.3M $505.5M
YoY Change 30.05% 6.38% -25.1%
Gross Profit Margin 31.72% 31.59% 24.98%
Selling, General & Admin $267.5M $269.0M $205.2M
YoY Change 30.36% 6.45% -35.69%
% of Gross Profit 40.69% 44.66% 40.59%
Research & Development $52.50M $43.80M $38.40M
YoY Change 36.72% 20.0% -35.57%
% of Gross Profit 7.99% 7.27% 7.6%
Depreciation & Amortization $122.4M $122.3M $120.0M
YoY Change 2.0% 2.26% 7.05%
% of Gross Profit 18.62% 20.31% 23.74%
Operating Expenses $392.3M $385.3M $314.4M
YoY Change 24.78% 7.18% -29.22%
Operating Profit $265.1M $217.0M $191.1M
YoY Change 38.72% 4.98% -15.48%
Interest Expense -$32.20M -$42.50M -$48.10M
YoY Change -33.06% -26.22% -4.75%
% of Operating Profit -12.15% -19.59% -25.17%
Other Income/Expense, Net $2.900M $500.0K $5.300M
YoY Change -45.28% -96.5% -688.89%
Pretax Income $234.8M $175.3M $118.3M
YoY Change 98.48% -0.06% -32.28%
Income Tax $41.50M $43.50M $31.50M
% Of Pretax Income 17.67% 24.81% 26.63%
Net Earnings $190.2M $130.6M $87.90M
YoY Change 116.38% 1.95% -35.22%
Net Earnings / Revenue 9.18% 6.85% 4.34%
Basic Earnings Per Share $0.69
Diluted Earnings Per Share $1.019M $0.69 $463.1K
COMMON SHARES
Basic Shares Outstanding 186.8M shares 187.6M shares 190.3M shares
Diluted Shares Outstanding 188.0M shares

Balance Sheet

Concept 2021 Q4 2021 Q3 2020 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $473.0M $456.4M $599.0M
YoY Change -21.04% -18.35% -0.83%
Cash & Equivalents $473.0M $456.4M $599.0M
Short-Term Investments
Other Short-Term Assets $193.0M $247.1M $227.0M
YoY Change -14.98% 50.95% 50.43%
Inventory $1.689B $1.690B $1.642B
Prepaid Expenses
Receivables $1.085B $960.3M $969.0M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $3.832B $3.760B $3.880B
YoY Change -1.24% -4.47% -7.44%
LONG-TERM ASSETS
Property, Plant & Equipment $1.497B $1.509B $1.601B
YoY Change -6.5% -5.91% -3.31%
Goodwill $8.587B $8.605B $8.485B
YoY Change 1.2% 2.85% 1.48%
Intangibles $4.340B $4.427B $4.520B
YoY Change -3.98% -2.0% -4.39%
Long-Term Investments $96.00M $100.0M
YoY Change -4.0% 5.04%
Other Assets $833.0M $698.3M $619.0M
YoY Change 34.57% 7.63% -2.01%
Total Long-Term Assets $14.62B $14.59B $14.57B
YoY Change 0.33% 0.58% -1.21%
TOTAL ASSETS
Total Short-Term Assets $3.832B $3.760B $3.880B
Total Long-Term Assets $14.62B $14.59B $14.57B
Total Assets $18.45B $18.35B $18.45B
YoY Change 0.0% -0.5% -2.59%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.012B $947.3M $909.0M
YoY Change 11.33% -1.53% -21.47%
Accrued Expenses $1.267B $1.304B $1.227B
YoY Change 3.26% 11.32% -12.42%
Deferred Revenue $629.0M $556.9M $643.0M
YoY Change -2.18% -13.11% 6.42%
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $2.000M $3.800M $447.0M
YoY Change -99.55% -99.16% 367.08%
Total Short-Term Liabilities $2.910B $2.812B $3.226B
YoY Change -9.8% -12.92% -0.98%
LONG-TERM LIABILITIES
Long-Term Debt $4.056B $4.067B $3.792B
YoY Change 6.96% 7.03% -12.5%
Other Long-Term Liabilities $743.0M $773.2M $783.0M
YoY Change -5.11% -2.6% -3.2%
Total Long-Term Liabilities $4.799B $4.840B $4.575B
YoY Change 4.9% 5.37% -11.04%
TOTAL LIABILITIES
Total Short-Term Liabilities $2.910B $2.812B $3.226B
Total Long-Term Liabilities $4.799B $4.840B $4.575B
Total Liabilities $8.215B $8.161B $8.301B
YoY Change -1.04% -2.76% -7.26%
SHAREHOLDERS EQUITY
Retained Earnings $4.055B $3.888B $3.589B
YoY Change 12.98% 10.32% 9.86%
Common Stock $7.918B $7.908B $7.883B
YoY Change 0.44% 0.3% 0.05%
Preferred Stock
YoY Change
Treasury Stock (at cost) $1.306B $1.206B $1.010B
YoY Change 29.31% 32.64% 25.14%
Treasury Stock Shares 41.10M shares 40.10M shares 38.00M shares
Shareholders Equity $10.20B $10.16B $10.12B
YoY Change
Total Liabilities & Shareholders Equity $18.45B $18.35B $18.45B
YoY Change 0.0% -0.5% -2.59%

Cashflow Statement

Concept 2021 Q4 2021 Q3 2020 Q4
OPERATING ACTIVITIES
Net Income $190.2M $130.6M $87.90M
YoY Change 116.38% 1.95% -35.22%
Depreciation, Depletion And Amortization $122.4M $122.3M $120.0M
YoY Change 2.0% 2.26% 7.05%
Cash From Operating Activities $313.7M $243.9M $325.6M
YoY Change -3.65% 6.27% -27.29%
INVESTING ACTIVITIES
Capital Expenditures -$51.50M -$23.00M -$37.70M
YoY Change 36.6% -26.05% -48.14%
Acquisitions
YoY Change
Other Investing Activities -$13.20M $100.0K $2.200M
YoY Change -700.0% -98.94% -53.19%
Cash From Investing Activities -$64.70M -$22.90M -$35.50M
YoY Change 82.25% 5.53% -47.79%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -219.7M -220.8M -258.2M
YoY Change -14.91% -6.95% -27.39%
NET CHANGE
Cash From Operating Activities 313.7M 243.9M 325.6M
Cash From Investing Activities -64.70M -22.90M -35.50M
Cash From Financing Activities -219.7M -220.8M -258.2M
Net Change In Cash 29.30M 200.0K 31.90M
YoY Change -8.15% -100.68% 31.82%
FREE CASH FLOW
Cash From Operating Activities $313.7M $243.9M $325.6M
Capital Expenditures -$51.50M -$23.00M -$37.70M
Free Cash Flow $365.2M $266.9M $363.3M
YoY Change 0.52% 2.42% -30.2%

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us-gaap Nature Of Operations
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BUSINESS Westinghouse Air Brake Technologies Corporation (“Wabtec” or the "Company") is one of the world’s largest providers of locomotives, value-added, technology-based equipment, systems and services for the global freight rail and passenger transit industries. Our highly engineered products, which are intended to enhance safety, improve productivity and reduce maintenance costs for customers, can be found on most locomotives, freight cars, passenger transit cars and buses around the world. 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 over 50 countries and our products can be found in more than 100 countries throughout the world. In the first nine months of 2021, approximately 58% of the Company’s revenues came from customers outside the United States.
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us-gaap Use Of Estimates
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Use of Estimates The preparation of financial statements in conformity with GAAP 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.
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CY2020Q4 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
831200000 USD
CY2019Q4 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
799700000 USD
us-gaap Contract With Customer Liability Increase Decrease For Contract Acquired In Business Combination
ContractWithCustomerLiabilityIncreaseDecreaseForContractAcquiredInBusinessCombination
1700000 USD
us-gaap Contract With Customer Liability Increase Decrease For Contract Acquired In Business Combination
ContractWithCustomerLiabilityIncreaseDecreaseForContractAcquiredInBusinessCombination
6900000 USD
wab Contract With Customer Liability New Contract Additions
ContractWithCustomerLiabilityNewContractAdditions
589100000 USD
us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
387200000 USD
us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
430000000.0 USD
wab Contractwith Customer Liability Revenue Recognizedfrom Current Year Additions
ContractwithCustomerLiabilityRevenueRecognizedfromCurrentYearAdditions
154300000 USD
wab Contractwith Customer Liability Revenue Recognizedfrom Current Year Additions
ContractwithCustomerLiabilityRevenueRecognizedfromCurrentYearAdditions
152600000 USD
wab Contractwith Customer Liability Increase Decrease Foreign Currency Translation Adjustment
ContractwithCustomerLiabilityIncreaseDecreaseForeignCurrencyTranslationAdjustment
-8600000 USD
wab Contractwith Customer Liability Increase Decrease Foreign Currency Translation Adjustment
ContractwithCustomerLiabilityIncreaseDecreaseForeignCurrencyTranslationAdjustment
-3300000 USD
CY2021Q3 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
759800000 USD
CY2020Q3 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
809800000 USD
CY2021Q3 us-gaap Operating Lease Cost
OperatingLeaseCost
15300000 USD
CY2020Q3 us-gaap Operating Lease Cost
OperatingLeaseCost
14100000 USD
us-gaap Operating Lease Cost
OperatingLeaseCost
43800000 USD
us-gaap Operating Lease Cost
OperatingLeaseCost
42900000 USD
CY2021Q3 us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
200000 USD
us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
900000 USD
CY2021Q3 wab Shortterm And Variable Lease Cost
ShorttermAndVariableLeaseCost
100000 USD
CY2020Q3 wab Shortterm And Variable Lease Cost
ShorttermAndVariableLeaseCost
0 USD
wab Shortterm And Variable Lease Cost
ShorttermAndVariableLeaseCost
400000 USD
wab Shortterm And Variable Lease Cost
ShorttermAndVariableLeaseCost
100000 USD
CY2021Q3 us-gaap Sublease Income
SubleaseIncome
100000 USD
CY2020Q3 us-gaap Sublease Income
SubleaseIncome
100000 USD
us-gaap Sublease Income
SubleaseIncome
300000 USD
us-gaap Sublease Income
SubleaseIncome
300000 USD
CY2021Q3 us-gaap Lease Cost
LeaseCost
15500000 USD
CY2020Q3 us-gaap Lease Cost
LeaseCost
14300000 USD
us-gaap Lease Cost
LeaseCost
44300000 USD
us-gaap Lease Cost
LeaseCost
43600000 USD
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.260
CY2021Q3 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
15400000 USD
CY2021Q3 us-gaap Finance Lease Liability Payments Remainder Of Fiscal Year
FinanceLeaseLiabilityPaymentsRemainderOfFiscalYear
200000 USD
CY2021Q3 wab Lessee Operating And Finance Lease Liability Total Payments Remainderof Fiscal Year
LesseeOperatingAndFinanceLeaseLiabilityTotalPaymentsRemainderofFiscalYear
15600000 USD
CY2021Q3 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
58100000 USD
CY2021Q3 us-gaap Finance Lease Liability Payments Due Next Twelve Months
FinanceLeaseLiabilityPaymentsDueNextTwelveMonths
800000 USD
CY2021Q3 wab Lessee Operating And Finance Lease Liability To Be Paid Year One
LesseeOperatingAndFinanceLeaseLiabilityToBePaidYearOne
58900000 USD
CY2021Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
51900000 USD
CY2021Q3 us-gaap Finance Lease Liability Payments Due Year Two
FinanceLeaseLiabilityPaymentsDueYearTwo
500000 USD
CY2021Q3 wab Lessee Operating And Finance Lease Liability Total Payments Due Year Two
LesseeOperatingAndFinanceLeaseLiabilityTotalPaymentsDueYearTwo
52400000 USD
CY2021Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
46900000 USD
CY2021Q3 us-gaap Finance Lease Liability Payments Due Year Three
FinanceLeaseLiabilityPaymentsDueYearThree
300000 USD
CY2021Q3 wab Lessee Operating And Finance Lease Liability Total Payments Due Year Three
LesseeOperatingAndFinanceLeaseLiabilityTotalPaymentsDueYearThree
47200000 USD
CY2021Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
40300000 USD
CY2021Q3 us-gaap Finance Lease Liability Payments Due Year Four
FinanceLeaseLiabilityPaymentsDueYearFour
200000 USD
CY2021Q3 wab Lessee Operating And Finance Lease Liability Total Payments Due Year Four
LesseeOperatingAndFinanceLeaseLiabilityTotalPaymentsDueYearFour
40500000 USD
CY2021Q3 wab Lessee Operating Lease Liability Payments Due After Year Four
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFour
148100000 USD
CY2021Q3 wab Finance Lease Liability Payments Due After Year Four
FinanceLeaseLiabilityPaymentsDueAfterYearFour
100000 USD
CY2021Q3 wab Lessee Operating And Finance Lease Liability Total Payments Due After Year Four
LesseeOperatingAndFinanceLeaseLiabilityTotalPaymentsDueAfterYearFour
148200000 USD
CY2021Q3 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
360700000 USD
CY2021Q3 us-gaap Finance Lease Liability Payments Due
FinanceLeaseLiabilityPaymentsDue
2100000 USD
CY2021Q3 wab Lessee Operating And Finance Lease Liability Payments Due
LesseeOperatingAndFinanceLeaseLiabilityPaymentsDue
362800000 USD
CY2021Q3 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
29200000 USD
CY2021Q3 us-gaap Finance Lease Liability Undiscounted Excess Amount
FinanceLeaseLiabilityUndiscountedExcessAmount
0 USD
CY2021Q3 wab Lessee Operating And Finance Lease Liability Undiscounted Excess Amount
LesseeOperatingAndFinanceLeaseLiabilityUndiscountedExcessAmount
29200000 USD
CY2021Q3 us-gaap Operating Lease Liability
OperatingLeaseLiability
331500000 USD
CY2021Q3 us-gaap Finance Lease Liability
FinanceLeaseLiability
2100000 USD
CY2021Q3 wab Operating And Finance Lease Liability
OperatingAndFinanceLeaseLiability
333600000 USD
CY2021Q3 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P8Y1M6D
CY2020Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P7Y4M24D
CY2021Q3 us-gaap Finance Lease Weighted Average Remaining Lease Term1
FinanceLeaseWeightedAverageRemainingLeaseTerm1
P3Y6M
CY2020Q4 us-gaap Finance Lease Weighted Average Remaining Lease Term1
FinanceLeaseWeightedAverageRemainingLeaseTerm1
P4Y6M
CY2021Q3 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.024
CY2020Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.027
CY2021Q3 us-gaap Finance Lease Weighted Average Discount Rate Percent
FinanceLeaseWeightedAverageDiscountRatePercent
0.014
CY2020Q4 us-gaap Finance Lease Weighted Average Discount Rate Percent
FinanceLeaseWeightedAverageDiscountRatePercent
0.014
CY2021Q3 us-gaap Long Term Debt
LongTermDebt
4071000000 USD
CY2020Q4 us-gaap Long Term Debt
LongTermDebt
4239400000 USD
CY2021Q3 us-gaap Long Term Debt Current
LongTermDebtCurrent
3800000 USD
CY2020Q4 us-gaap Long Term Debt Current
LongTermDebtCurrent
447200000 USD
CY2021Q3 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
4067200000 USD
CY2020Q4 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
3792200000 USD
CY2021Q3 us-gaap Deferred Finance Costs Net
DeferredFinanceCostsNet
24300000 USD
CY2020Q4 us-gaap Deferred Finance Costs Net
DeferredFinanceCostsNet
20500000 USD
CY2021Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
10000000 USD
CY2020Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
12000000 USD
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
34200000 USD
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
17600000 USD
CY2021Q3 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized
44100000 USD
CY2020Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
552669 shares
CY2020Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
69.82
CY2020 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P6Y1M6D
CY2020Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
4200000 USD
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriod
126794 shares
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
81.21
us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
74343 shares
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
52.13
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
26037 shares
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
74.73
CY2021Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
579083 shares
CY2021Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
73.11
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P6Y3M18D
CY2021Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
9000000.0 USD
CY2021Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
336940 shares
CY2021Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
58.96
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
P5Y8M12D
CY2021Q3 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1
9400000 USD
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0.0060
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.0081
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.361
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P5Y
CY2020Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue
73.80
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
81.38
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
71.52
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
74.32
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Forfeitures Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeituresWeightedAverageGrantDateFairValue
76.10
CY2021Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue
77.63
CY2021Q3 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.248
CY2020Q3 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.267
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.258
CY2021Q3 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
14900000 USD
CY2021Q3 us-gaap Unrecognized Tax Benefits That Would Impact Effective Tax Rate
UnrecognizedTaxBenefitsThatWouldImpactEffectiveTaxRate
13300000 USD
CY2020Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
16400000 USD
CY2020Q4 us-gaap Unrecognized Tax Benefits That Would Impact Effective Tax Rate
UnrecognizedTaxBenefitsThatWouldImpactEffectiveTaxRate
14800000 USD
CY2021Q3 us-gaap Significant Change In Unrecognized Tax Benefits Is Reasonably Possible Amount Of Unrecorded Benefit
SignificantChangeInUnrecognizedTaxBenefitsIsReasonablyPossibleAmountOfUnrecordedBenefit
6600000 USD
CY2021Q3 us-gaap Net Income Loss
NetIncomeLoss
130600000 USD
CY2020Q3 us-gaap Net Income Loss
NetIncomeLoss
128100000 USD
CY2021Q3 us-gaap Dividends Common Stock Stock
DividendsCommonStockStock
22600000 USD
CY2020Q3 us-gaap Dividends Common Stock Stock
DividendsCommonStockStock
22800000 USD
CY2021Q3 us-gaap Undistributed Earnings
UndistributedEarnings
108000000.0 USD
CY2020Q3 us-gaap Undistributed Earnings
UndistributedEarnings
105300000 USD
CY2021Q3 wab Percentage Of Net Income Allocated To Common Shareholders
PercentageOfNetIncomeAllocatedToCommonShareholders
0.998
CY2020Q3 wab Percentage Of Net Income Allocated To Common Shareholders
PercentageOfNetIncomeAllocatedToCommonShareholders
0.998
CY2021Q3 wab Undistributed Earnings Allocated To Common Shareholders
UndistributedEarningsAllocatedToCommonShareholders
107800000 USD
CY2020Q3 wab Undistributed Earnings Allocated To Common Shareholders
UndistributedEarningsAllocatedToCommonShareholders
105100000 USD
CY2021Q3 wab Dividends Declared Common Shares
DividendsDeclaredCommonShares
22600000 USD
CY2020Q3 wab Dividends Declared Common Shares
DividendsDeclaredCommonShares
22800000 USD
CY2021Q3 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
130400000 USD
CY2020Q3 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
127900000 USD
CY2021Q3 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
130400000 USD
CY2020Q3 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
127900000 USD
CY2021Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
187600000 shares
CY2020Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
189800000 shares
CY2021Q3 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
400000 shares
CY2020Q3 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
400000 shares
CY2021Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
188000000.0 shares
CY2020Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
190200000 shares
CY2021Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.69
CY2020Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.67
CY2021Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.69
CY2020Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.67
CY2021Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
187600000 shares
CY2020Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
189800000 shares
CY2021Q3 wab Basic Weighted Average Common Shares Outstanding And Non Vested Restricted Stock Expected To Vest
BasicWeightedAverageCommonSharesOutstandingAndNonVestedRestrictedStockExpectedToVest
188000000.0 shares
CY2020Q3 wab Basic Weighted Average Common Shares Outstanding And Non Vested Restricted Stock Expected To Vest
BasicWeightedAverageCommonSharesOutstandingAndNonVestedRestrictedStockExpectedToVest
190300000 shares
CY2021Q3 wab Percentage Of Net Income Allocated To Common Shareholders
PercentageOfNetIncomeAllocatedToCommonShareholders
0.998
CY2020Q3 wab Percentage Of Net Income Allocated To Common Shareholders
PercentageOfNetIncomeAllocatedToCommonShareholders
0.998
us-gaap Net Income Loss
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367800000 USD
us-gaap Net Income Loss
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326500000 USD
us-gaap Dividends Common Stock Stock
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68000000.0 USD
us-gaap Dividends Common Stock Stock
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68700000 USD
us-gaap Undistributed Earnings
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299800000 USD
us-gaap Undistributed Earnings
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257800000 USD
wab Percentage Of Net Income Allocated To Common Shareholders
PercentageOfNetIncomeAllocatedToCommonShareholders
0.998
wab Percentage Of Net Income Allocated To Common Shareholders
PercentageOfNetIncomeAllocatedToCommonShareholders
0.997
wab Undistributed Earnings Allocated To Common Shareholders
UndistributedEarningsAllocatedToCommonShareholders
299200000 USD
wab Undistributed Earnings Allocated To Common Shareholders
UndistributedEarningsAllocatedToCommonShareholders
257000000.0 USD
wab Dividends Declared Common Shares
DividendsDeclaredCommonShares
68500000 USD
wab Dividends Declared Common Shares
DividendsDeclaredCommonShares
67900000 USD
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
367100000 USD
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
325500000 USD
us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
367100000 USD
us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
325500000 USD
us-gaap Weighted Average Number Of Shares Outstanding Basic
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188200000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
190100000 shares
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
400000 shares
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
500000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
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188600000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
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190600000 shares
us-gaap Earnings Per Share Basic
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1.95
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
1.71
us-gaap Earnings Per Share Diluted
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1.95
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
1.71
us-gaap Weighted Average Number Of Shares Outstanding Basic
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188200000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
190100000 shares
wab Basic Weighted Average Common Shares Outstanding And Non Vested Restricted Stock Expected To Vest
BasicWeightedAverageCommonSharesOutstandingAndNonVestedRestrictedStockExpectedToVest
188600000 shares
wab Basic Weighted Average Common Shares Outstanding And Non Vested Restricted Stock Expected To Vest
BasicWeightedAverageCommonSharesOutstandingAndNonVestedRestrictedStockExpectedToVest
190600000 shares
wab Percentage Of Net Income Allocated To Common Shareholders
PercentageOfNetIncomeAllocatedToCommonShareholders
0.998
wab Percentage Of Net Income Allocated To Common Shareholders
PercentageOfNetIncomeAllocatedToCommonShareholders
0.997
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
100000 shares
CY2021Q3 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
100000 shares
CY2020Q4 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
278500000 USD
CY2019Q4 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
267700000 USD
us-gaap Product Warranty Accrual Additions From Business Acquisition
ProductWarrantyAccrualAdditionsFromBusinessAcquisition
1700000 USD
us-gaap Product Warranty Accrual Additions From Business Acquisition
ProductWarrantyAccrualAdditionsFromBusinessAcquisition
4300000 USD
us-gaap Product Warranty Accrual Warranties Issued
ProductWarrantyAccrualWarrantiesIssued
84700000 USD
us-gaap Product Warranty Accrual Warranties Issued
ProductWarrantyAccrualWarrantiesIssued
86800000 USD
us-gaap Product Warranty Accrual Payments
ProductWarrantyAccrualPayments
84500000 USD
us-gaap Product Warranty Accrual Payments
ProductWarrantyAccrualPayments
95700000 USD
us-gaap Standard And Extended Product Warranty Accrual Foreign Currency Translation Gain Loss
StandardAndExtendedProductWarrantyAccrualForeignCurrencyTranslationGainLoss
8400000 USD
us-gaap Standard And Extended Product Warranty Accrual Foreign Currency Translation Gain Loss
StandardAndExtendedProductWarrantyAccrualForeignCurrencyTranslationGainLoss
-1700000 USD
CY2021Q3 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
272000000.0 USD
CY2020Q3 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
264800000 USD
CY2021Q3 us-gaap Business Combination Contingent Consideration Liability Noncurrent
BusinessCombinationContingentConsiderationLiabilityNoncurrent
219800000 USD
us-gaap Number Of Reportable Segments
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2 segment
CY2021Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
1906900000 USD
CY2021Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
1906900000 USD
CY2021Q3 us-gaap Operating Income Loss
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217000000.0 USD
CY2021Q3 wab Interest Expense And Other Net
InterestExpenseAndOtherNet
41700000 USD
CY2021Q3 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
175300000 USD
CY2020Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
1865100000 USD
CY2020Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
1865100000 USD
CY2020Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
206700000 USD
CY2020Q3 wab Interest Expense And Other Net
InterestExpenseAndOtherNet
31300000 USD
CY2020Q3 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
175400000 USD
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
5749400000 USD
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
5749400000 USD
us-gaap Operating Income Loss
OperatingIncomeLoss
611900000 USD
wab Interest Expense And Other Net
InterestExpenseAndOtherNet
109700000 USD
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
502200000 USD
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
5532400000 USD
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
5532400000 USD
us-gaap Operating Income Loss
OperatingIncomeLoss
583400000 USD
wab Interest Expense And Other Net
InterestExpenseAndOtherNet
144500000 USD
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
438900000 USD
CY2021Q3 us-gaap Foreign Currency Transaction Gain Loss Realized
ForeignCurrencyTransactionGainLossRealized
-3500000 USD
CY2020Q3 us-gaap Foreign Currency Transaction Gain Loss Realized
ForeignCurrencyTransactionGainLossRealized
6400000 USD
us-gaap Foreign Currency Transaction Gain Loss Realized
ForeignCurrencyTransactionGainLossRealized
7400000 USD
us-gaap Foreign Currency Transaction Gain Loss Realized
ForeignCurrencyTransactionGainLossRealized
-7700000 USD
CY2021Q3 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
3200000 USD
CY2020Q3 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
5600000 USD
us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
10500000 USD
us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
6700000 USD
CY2021Q3 wab Periodic Defined Benefits Expense Reversalof Expense Excluding Interest Cost And Service Cost Component
PeriodicDefinedBenefitsExpenseReversalofExpenseExcludingInterestCostAndServiceCostComponent
1900000 USD
CY2020Q3 wab Periodic Defined Benefits Expense Reversalof Expense Excluding Interest Cost And Service Cost Component
PeriodicDefinedBenefitsExpenseReversalofExpenseExcludingInterestCostAndServiceCostComponent
2500000 USD
wab Periodic Defined Benefits Expense Reversalof Expense Excluding Interest Cost And Service Cost Component
PeriodicDefinedBenefitsExpenseReversalofExpenseExcludingInterestCostAndServiceCostComponent
7300000 USD
wab Periodic Defined Benefits Expense Reversalof Expense Excluding Interest Cost And Service Cost Component
PeriodicDefinedBenefitsExpenseReversalofExpenseExcludingInterestCostAndServiceCostComponent
7200000 USD
CY2021Q3 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-1100000 USD
CY2020Q3 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-200000 USD
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-200000 USD
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-400000 USD
CY2021Q3 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
500000 USD
CY2020Q3 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
14300000 USD
us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
25000000.0 USD
us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
5800000 USD

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