View Filing Data

Document and Entity Information - shares	9 Months Ended
Document and Entity Information - shares	Sep. 30, 2014	Oct. 27, 2014
Document And Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Sep. 30, 2014
Document Fiscal Year Focus	2014
Document Fiscal Period Focus	Q3
Trading Symbol	WAB
Entity Registrant Name	WESTINGHOUSE AIR BRAKE TECHNOLOGIES CORP
Entity Central Index Key	0000943452
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding		96,254,818

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Sep. 30, 2014	Dec. 31, 2013
Current Assets
Cash and cash equivalents	$ 212,541	$ 285,760
Accounts receivable	474,930	349,458
Unbilled accounts receivable	240,178	205,045
Inventories	489,053	403,229
Deferred income taxes	52,240	50,622
Other	64,866	38,933
Total current assets	1,533,808	1,333,047
Property, plant and equipment	682,297	597,740
Accumulated depreciation	(339,932)	(321,662)
Property, plant and equipment, net	342,365	276,078
Other Assets
Goodwill	864,460	786,433
Other intangibles, net	449,533	385,679
Other noncurrent assets	38,221	40,760
Total other assets	1,352,214	1,212,872
Total Assets	3,228,387	2,821,997
Current Liabilities
Accounts payable	389,284	326,666
Customer deposits	74,901	66,573
Accrued compensation	64,168	57,058
Accrued warranty	53,509	43,197
Current portion of long-term debt	955	421
Other accrued liabilities	91,931	85,485
Total current liabilities	674,748	579,400
Long-term debt	521,087	450,288
Accrued postretirement and pension benefits	62,371	50,003
Deferred income taxes	143,549	114,486
Accrued warranty	17,203	17,396
Other long-term liabilities	19,820	23,257
Total liabilities	1,438,778	1,234,830
Shareholders’ Equity
Preferred stock, 1,000,000 shares authorized, no shares issued
Common stock, $.01 par value; 200,000,000 shares authorized: 132,349,534 shares issued and 96,254,818 and 95,909,948 outstanding at June 30, 2014 and December 31, 2013, respectively	1,323	1,323
Additional paid-in capital	441,869	415,059
Treasury stock, at cost, 36,094,716 and 36,439,586 shares, at June 30, 2014 and December 31, 2013, respectively	(392,475)	(372,969)
Retained earnings	1,822,225	1,576,702
Accumulated other comprehensive loss	(84,285)	(34,856)
Total Westinghouse Air Brake Technologies Corporation shareholders' equity	1,788,657	1,585,259
Non-controlling interest (minority interest)	952	1,908
Total shareholders’ equity	1,789,609	1,587,167
Total Liabilities and Shareholders’ Equity	$ 3,228,387	$ 2,821,997

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Sep. 30, 2014	Dec. 31, 2013
Statement Of Financial Position [Abstract]
Preferred stock, shares authorized	1,000,000	1,000,000
Preferred stock, shares issued	0	0
Common stock, par value	$ 0.01	$ 0.01
Common stock, shares authorized	200,000,000	200,000,000
Common stock, shares issued	132,349,534	132,349,534
Common stock, shares outstanding	96,254,818	95,909,948
Treasury stock, shares	36,094,716	36,439,586

CONDENSED CONSOLIDATED STATEMENTS OF INCOME - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013
Income Statement [Abstract]
Net sales	$ 797,271	$ 631,398	$ 2,223,588	$ 1,884,910
Cost of sales	(549,813)	(443,265)	(1,541,903)	(1,321,008)
Gross profit	247,458	188,133	681,685	563,902
Selling, general and administrative expenses	(88,359)	(63,402)	(231,422)	(191,576)
Engineering expenses	(16,391)	(10,921)	(43,558)	(33,535)
Amortization expense	(6,731)	(3,939)	(16,559)	(12,699)
Total operating expenses	(111,481)	(78,262)	(291,539)	(237,810)
Income from operations	135,977	109,871	390,146	326,092
Other income and expenses
Interest expense, net	(4,594)	(3,829)	(13,569)	(10,714)
Other income (expense), net	(154)	(1,658)	72	(1,833)
Income from operations before income taxes	131,229	104,384	376,649	313,545
Income tax expense	(41,074)	(30,441)	(117,655)	(95,351)
Net income attributable to Wabtec shareholders	$ 90,155	$ 73,943	$ 258,994	$ 218,194
Basic
Net income attributable to Wabtec shareholders	$ 0.94	$ 0.77	$ 2.69	$ 2.28
Diluted
Net income attributable to Wabtec shareholders	$ 0.93	$ 0.76	$ 2.67	$ 2.25
Weighted average shares outstanding
Basic	95,935	95,848	95,745	95,383
Diluted	97,004	97,174	96,834	96,754

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013
Statement Of Income And Comprehensive Income [Abstract]
Net income attributable to Wabtec shareholders	$ 90,155	$ 73,943	$ 258,994	$ 218,194
Foreign currency translation gain (loss)	(60,964)	34,179	(52,876)	(2,799)
Unrealized gain (loss) on derivative contracts	1,153	(411)	560	599
Pension benefit plans and post-retirement benefit plans	2,553	1,341	4,335	6,746
Other comprehensive income (loss) before tax	(57,258)	35,109	(47,981)	4,546
Income tax benefit (expense) related to components of other comprehensive income (loss)	(1,067)	(1,075)	(1,448)	(3,061)
Other comprehensive income (loss), net of tax	(58,325)	34,034	(49,429)	1,485
Comprehensive income attributable to Wabtec shareholders	$ 31,830	$ 107,977	$ 209,565	$ 219,679

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References + Details

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2014	Sep. 30, 2013
Operating Activities
Net income attributable to Wabtec shareholders	$ 258,994	$ 218,194
Adjustments to reconcile net income to cash provided by operations:
Depreciation and amortization	44,977	37,135
Stock-based compensation expense	19,107	17,596
Loss (gain) on disposal of property, plant and equipment	114	(641)
Excess income tax benefits from exercise of stock options	(2,739)	(9,445)
Changes in operating assets and liabilities, net of acquisitions
Accounts receivable and unbilled accounts receivable	(89,359)	(167,175)
Inventories	(33,958)	29,025
Accounts payable	40,971	23,542
Accrued income taxes	16,355	(2,032)
Accrued liabilities and customer deposits	8,342	(45,407)
Other assets and liabilities	(32,640)	(15,796)
Net cash provided by operating activities	230,164	84,996
Investing Activities
Purchase of property, plant and equipment	(30,977)	(23,595)
Proceeds from disposal of property, plant and equipment	340	6,168
Acquisitions of businesses, net of cash acquired	(299,661)	(222,058)
Net cash used for investing activities	(330,298)	(239,485)
Financing Activities
Proceeds from debt	433,400	868,538
Payments of debt	(362,965)	(649,359)
Purchase of treasury stock	(26,757)	(5,486)
Proceeds from exercise of stock options and other benefit plans	3,044	4,736
Excess income tax benefits from exercise of stock options	2,739	9,445
Earn-out settlement	(4,429)
Cash dividends ($0.14 and $0.09 per share for the nine months ended September 30, 2014 and 2013, respectively)	(13,471)	(8,800)
Net cash provided by financing activities	31,561	219,074
Effect of changes in currency exchange rates	(4,646)	656
(Decrease) increase in cash	(73,219)	65,241
Cash, beginning of year	285,760	215,766
Cash, end of period	$ 212,541	$ 281,007

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Parenthetical) - $ / shares	9 Months Ended
	Sep. 30, 2014	Sep. 30, 2013
Statement Of Cash Flows [Abstract]
Cash dividends, per share	$ 0.14	$ 0.09

Business	9 Months Ended
Business	Sep. 30, 2014
Organization Consolidation And Presentation Of Financial Statements [Abstract]
Business	1. BUSINESS Westinghouse Air Brake Technologies Corporation (“Wabtec”) is one of the world’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 100 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 19 countries. In the first nine months of 2014, about 48% of the Company’s revenues came from customers outside the U.S.

Accounting Policies

9 Months Ended

Sep. 30, 2014

Accounting Policies [Abstract]

Accounting Policies

2. ACCOUNTING POLICIES

Basis of Presentation The unaudited condensed consolidated interim financial statements have been prepared in accordance with generally accepted accounting principles and the rules and regulations of the Securities and Exchange Commission and include the accounts of Wabtec and its majority owned subsidiaries. These condensed consolidated interim financial statements do not include all of the information and footnotes required for complete financial statements. In management’s opinion, these financial statements reflect all adjustments of a normal, recurring nature necessary for a fair presentation of the results for the interim periods presented. Results for these interim periods are not necessarily indicative of results to be expected for the full year.

The Company operates on a four-four-five week accounting quarter, and the quarters end on or about March 31, June 30, September 30 and December 31.

The notes included herein should be read in conjunction with the audited consolidated financial statements included in Wabtec’s Annual Report on Form 10-K for the year ended December 31, 2013. The December 31, 2013 information has been derived from the Company’s Annual Report on Form 10-K for the year ended December 31, 2013.

Capital Structure On May 14, 2013, our stockholders approved an amendment to our Amended and Restated Certificate of Incorporation to increase the number of authorized shares of our common stock to 200.0 million shares. In addition, on May 14, 2013, our Board of Directors approved a two-for-one split of the Company’s issued and outstanding common stock in the form of a 100% stock dividend. The increase in the authorized shares and the stock split became effective on May 14, 2013 and June 11, 2013, respectively.

The Company issued approximately 66.2 million shares of its common stock as a result of the two-for-one stock split. The par value of the Company’s common stock remained unchanged at $0.01 per share.

Information regarding shares of common stock (except par value per share), retained earnings, and net income per common share attributable to Wabtec shareholders for all periods presented reflects the two-for-one split of the Company’s common stock. The number of shares of the Company’s common stock issuable upon exercise of outstanding stock options and vesting of other stock-based awards was proportionally increased, and the exercise price per share thereof was proportionally decreased, in accordance with the terms of the stock incentive plans.

Reclassifications Certain prior year footnote amounts have been reclassified where necessary to conform to the current year presentation.

Revenue Recognition Revenue is recognized in accordance with Accounting Standards Codification (“ASC”) 605 “Revenue Recognition”. Revenue is recognized when products have been shipped to the respective customers, title has passed and the price for the product has been determined.

In general, the Company recognizes revenues on long-term contracts based on the percentage of completion method of accounting. The units-of-delivery method or other input-based or output-based measures, as appropriate, are used to measure the progress toward completion of individual contracts. Contract revenues and cost estimates are reviewed and revised at a minimum quarterly and adjustments are reflected in the accounting period as such amounts are determined. Provisions are made currently for estimated losses on uncompleted contracts. Unbilled accounts receivables were $240.2 million and $205.0 million, customer deposits were $74.9 million and $66.6 million, and provisions for loss contracts were $7.4 million and $14.0 million at September 30, 2014 and December 31, 2013, respectively.

Certain pre-production costs relating to long-term production and supply contracts have been deferred and will be recognized over the life of the contracts. Deferred pre-production costs were $19.2 million at September 30, 2014 and December 31, 2013, respectively.

Use of Estimates 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.

Financial Derivatives and Hedging Activities The Company periodically enters into foreign currency forward contracts to reduce the impact of changes in currency exchange rates. Forward contracts are agreements with a counter-party to exchange two distinct currencies at a set exchange rate for delivery on a set date at some point in the future. There is no exchange of funds until the delivery date. At the delivery date the Company can either take delivery of the currency or settle on a net basis. At September 30, 2014, the Company had no material foreign currency forward contracts.

To reduce the impact of interest rate changes on a portion of its variable-rate debt, the Company has entered into two forward starting interest rate swap agreements with notional values of $150.0 million. As of September 30, 2014, the Company has recorded a current liability of $2.4 million and a corresponding offset in accumulated other comprehensive loss of $1.4 million, net of tax, related to this agreement. For further information regarding the forward starting interest rate swap agreements, see Footnote 6.

Foreign Currency Translation Assets and liabilities of foreign subsidiaries, except for the Company’s Mexican operations whose functional currency is the U.S. Dollar, are translated at the rate of exchange in effect on the balance sheet date while income and expenses are translated at the average rates of exchange prevailing during the year. Foreign currency gains and losses resulting from transactions and the translation of financial statements are recorded in the Company’s consolidated financial statements based upon the provisions of ASC 830 “Foreign Currency Matters.” The effects of currency exchange rate changes on intercompany transactions and balances of a long-term investment nature are accumulated and carried as a component of accumulated other comprehensive loss. The effects of currency exchange rate changes on intercompany transactions that are denominated in a currency other than an entity’s functional currency are charged or credited to earnings.

Non-controlling Interests In accordance with ASC 810, the Company has classified non-controlling interests as equity on our condensed consolidated balance sheets as of September 30, 2014 and December 31, 2013. Net income attributable to non-controlling interests for the three and nine months ended September 30, 2014 and 2013 was not material.

Other Comprehensive Income Comprehensive income is defined as net income and all other non-owner changes in shareholders’ equity.

The changes in accumulated other comprehensive loss by component, net of tax, for the nine months ended September 30, 2014 are as follows:

							Pension and
	Foreign						post
	currency			Derivative			retirement
In thousands	translation			contracts			benefits plans			Total
Balance at December 31, 2013	$	17,326		$	(2,010	)	$	(50,172	)	$	(34,856	)
Other comprehensive income (loss) before reclassifications		(52,876	)		(876	)		1,156			(52,596	)
Amounts reclassified from accumulated other
comprehensive income		-			1,167			2,000			3,167
Net current period other comprehensive income (loss)		(52,876	)		291			3,156			(49,429	)
Balance at September 30, 2014	$	(35,550	)	$	(1,719	)	$	(47,016	)	$	(84,285	)

Reclassifications out of accumulated other comprehensive loss for the three months ended September 30, 2014 are as follows:

	Amount reclassified from			Affected line item in the
	accumulated other			Condensed Consolidated
In thousands	comprehensive income			Statements of Operations
Amortization of defined pension and post retirement items
Amortization of initial net obligation and prior service cost	$	(613	)	Cost of sales
Amortization of net loss		1,368		Cost of sales
		755		Income from Operations
		(236	)	Income tax expense
	$	519		Net income

Derivative contracts
Realized loss on derivative contracts	$	492		Interest expense, net
		(154	)	Income tax expense
	$	338		Net income

Reclassifications out of accumulated other comprehensive loss for the nine months ended September 30, 2014 are as follows:

	Amount reclassified from			Affected line item in the
	accumulated other			Condensed Consolidated
In thousands	comprehensive income			Statements of Operations
Amortization of defined pension and post retirement items
Amortization of initial net obligation and prior service cost	$	(1,843	)	Cost of sales
Amortization of net loss		4,751		Cost of sales
		2,908		Income from Operations
		(908	)	Income tax expense
	$	2,000		Net income

Derivative contracts
Realized loss on derivative contracts	$	1,697		Interest expense, net
		(530	)	Income tax expense
	$	1,167		Net income

Acquisitions

9 Months Ended

Sep. 30, 2014

Business Combinations [Abstract]

Acquisitions

3. ACQUISITIONS

The Company has made the following acquisitions operating as a business unit or component of a business unit in the Freight Segment:

—	On September 3, 2014, the Company acquired C2CE Pty Ltd. (“C2CE”), a provider of railway signal design services, for a net purchase price of approximately $25.1 million, net of cash acquired, resulting in preliminary goodwill of $15.0 million, none of which will be deductible for tax purposes.

—

On September 24, 2013, the Company acquired Longwood Industries, Inc (“Longwood”), a manufacturer of specialty rubber products for transportation, oil and gas, and industrial markets, for a net purchase price of approximately $83.9 million, net of cash acquired, resulting in goodwill of $28.3 million, none of which will be deductible for tax purposes.

—

On July 30, 2013, the Company acquired Turbonetics Holdings, Inc (“Turbonetics”), a manufacturer of turbochargers and related components for various industrial markets, for a net purchase price of approximately $23.2 million, net of cash acquired, resulting in preliminary goodwill of $11.3 million, none of which will be deductible for tax purposes.

—

On January 31, 2013, the Company acquired Napier Turbochargers Ltd. (“Napier”), a UK-based provider of turbochargers and related parts for the worldwide power generation and marine markets, for a net purchase price of approximately $112.3 million, net of cash acquired, resulting in additional goodwill of $67.0 million, none of which will be deductible for tax purposes.

The Company has made the following acquisitions operating as a business unit or component of a business unit in the Transit Segment:

On August 21, 2014, the Company acquired Dia-Frag (“Dia-Frag”), a manufacturer of friction products for various markets with a focus on motorcycle braking, for a net purchase price of approximately $70.6 million, net of cash acquired, resulting in additional goodwill of $32.6 million, none of which will be deductible for tax purposes.

On June 6, 2014, the Company acquired Fandstan Electric Group Ltd. (“Fandstan”), a leading rail and industrial equipment manufacturer for a variety of markets, including rail and tram transportation, industrial and energy, for a net purchase price of approximately $199.4 million, net of cash acquired, resulting in additional goodwill of $49.7 million, none of which will be deductible for tax purposes.

The acquisitions listed above include escrow deposits of $41.6 million, which act as security for indemnity and other claims in accordance with the purchase and related escrow agreements. For the C2CE, Dia-Frag, and Fandstan acquisitions, the following table summarizes the preliminary estimated fair values of the assets acquired and liabilities assumed at the date of the acquisition. For the Longwood, Turbonetics, and Napier acquisitions, the following table summarizes the final fair values of the assets acquired and liabilities assumed at the date of acquisition.

	C2CE			Dia-Frag			Fandstan			Longwood			Turbonetics			Napier
	September 3,			August 21,			June 6,			September 24,			July 30,			January 31,
In thousands	2014			2014			2014			2013			2013			2013
Current assets	$	9,794		$	12,502		$	125,025		$	17,444		$	5,532		$	13,441
Property, plant & equipment		1,860			4,497			61,465			19,363			992			8,837
Goodwill		14,981			32,556			49,748			28,272			11,309			67,045
Other intangible assets		3,804			36,211			51,571			39,440			11,140			40,583
Other assets		-			65			309			7			-			-
Total assets acquired		30,439			85,831			288,118			104,526			28,973			129,906
Total liabilities assumed		(5,323	)		(15,190	)		(88,714	)		(20,663	)		(5,790	)		(17,565	)
Net assets acquired	$	25,116		$	70,641		$	199,404		$	83,863		$	23,183		$	112,341

Of the $182.6 million of total acquired intangible assets, $119.5 million was assigned to customer relationships, $45.9 million was assigned to trade names, $5.2 million was assigned to patents, $3.9 million was assigned to non-compete agreements, $0.8 million was assigned to favorable leasehold interest and $7.3 million was assigned to customer backlog. The trade names were determined to have an indefinite useful life, while the customer relationships’ average useful life is 20 years, the patents’ useful life is 11 years, the non-compete useful life is five years and the favorable leasehold interest useful life is five years.

The following unaudited pro forma consolidated financial information presents income statement results as if the acquisitions listed above had occurred on January 1, 2013:

	Three Months Ended		Three Months Ended		Nine Months Ended		Nine Months Ended
In thousands	September 30, 2014		September 30, 2013		September 30, 2014		September 30, 2013
Net sales	$	808,327	$	727,010	$	2,357,388	$	2,179,068
Gross profit		250,542		212,649		724,706		645,888
Net income attributable to Wabtec shareholders		91,519		79,897		269,469		239,151
Diluted earnings per share
As Reported	$	0.93	$	0.76	$	2.67	$	2.25
Pro forma	$	0.94	$	0.82	$	2.78	$	2.46

- Definition

The entire disclosure for a business combination (or series of individually immaterial business combinations) completed during the period, including background, timing, and recognized assets and liabilities. The disclosure may include leverage buyout transactions (as applicable).

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 805
-SubTopic 10
-Section 50
-Paragraph 5
-URI http://asc.fasb.org/extlink&oid=25497992&loc=d3e1497-128463

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 805
-SubTopic 10
-Section 50
-Paragraph 4
-URI http://asc.fasb.org/extlink&oid=25497992&loc=d3e1490-128463

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 805
-SubTopic 10
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=25497992&loc=d3e1392-128463

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 805
-SubTopic 30
-Section 50
-Paragraph 4
-URI http://asc.fasb.org/extlink&oid=35744584&loc=d3e7008-128479

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 805
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=25497992&loc=d3e1486-128463

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 805
-SubTopic 30
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=35744584&loc=d3e6927-128479

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 805
-SubTopic 20
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=39739317&loc=d3e4845-128472

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 805
-SubTopic 10
-Section 50
-Paragraph 6
-URI http://asc.fasb.org/extlink&oid=25497992&loc=d3e1500-128463

Reference 9: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 805
-SubTopic 10
-Section 50
-Paragraph 7
-URI http://asc.fasb.org/extlink&oid=25497992&loc=d3e1524-128463

Reference 10: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 805
-SubTopic 30
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=35744584&loc=d3e7000-128479

Reference 11: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 805
-SubTopic 20
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=39739317&loc=d3e4922-128472

Reference 12: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 805
-SubTopic 20
-Section 50
-Paragraph 4
-URI http://asc.fasb.org/extlink&oid=39739317&loc=d3e4934-128472

Reference 13: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 805
-SubTopic 20
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=39739317&loc=d3e4926-128472

Reference 14: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 805
-SubTopic 10
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=25497992&loc=d3e1383-128463

Reference 15: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 805
-SubTopic 30
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=35744584&loc=d3e6996-128479

+ Details

Inventories

9 Months Ended

Sep. 30, 2014

Inventory Disclosure [Abstract]

Inventories

4. INVENTORIES

The components of inventory, net of reserves, were:

	September 30,		December 31,
In thousands	2014		2013
Raw materials	$	192,042	$	165,906
Work-in-progress		155,574		137,449
Finished goods		141,437		99,874
Total inventories	$	489,053	$	403,229

Intangibles

9 Months Ended

Sep. 30, 2014

Goodwill And Intangible Assets Disclosure [Abstract]

Goodwill and Intangible Assets Disclosure

5. INTANGIBLES

The change in the carrying amount of goodwill by segment for the nine months ended September 30, 2014 is as follows:

	Freight			Transit
In thousands	Segment			Segment			Total
Balance at December 31, 2013	$	509,664		$	276,769		$	786,433
Adjustment to preliminary purchase allocation		(2,488	)		(1,554	)		(4,042	)
Acquisitions		18,168			82,376			100,544
Foreign currency impact		(3,236	)		(15,239	)		(18,475	)
Balance at September 30, 2014	$	522,108		$	342,352		$	864,460

As of September 30, 2014 and December 31, 2013, the Company’s trademarks had a net carrying amount of $173.9 million and $156.8 million, respectively, and the Company believes these intangibles have an indefinite life.

Intangible assets of the Company, other than goodwill and trademarks, consist of the following:

	September 30,		December 31,
In thousands	2014		2013
Patents, non-compete and other intangibles, net of accumulated
amortization of $39,867 and $37,824	$	19,573	$	15,561
Customer relationships, net of accumulated amortization
of $53,848 and $44,910		256,068		213,324
Total	$	275,641	$	228,885

The weighted average remaining useful life of patents, customer relationships and intellectual property were eight years, 17 years and 15 years, respectively. Amortization expense for intangible assets was $6.7 million and $16.6 million for the three and nine months ended September 30, 2014, respectively, and $3.9 million and $12.7 million for the three and nine months ended September 30, 2013, respectively.

Amortization expense for the five succeeding years is estimated to be as follows (in thousands):

Remainder of 2014	$	6,353
2015		22,324
2016		19,799
2017		18,903
2018		18,267

- Definition

The entire disclosure for the aggregate amount of goodwill and a description of intangible assets, which may include (a) for amortizable intangible assets (also referred to as finite-lived intangible assets), the carrying amount, the amount of any significant residual value, and the weighted-average amortization period, (b) for intangible assets not subject to amortization (also referred to as indefinite-lived intangible assets), the carrying amount, and (c) the amount of research and development assets acquired and written off in the period, including the line item in the income statement in which the amounts written off are aggregated, if not readily apparent from the income statement. Also discloses (a) for amortizable intangibles assets in total and by major class, the gross carrying amount and accumulated amortization, the total amortization expense for the period, and the estimated aggregate amortization expense for each of the five succeeding fiscal years, (b) for intangible assets not subject to amortization the carrying amount in total and by major class, and (c) for goodwill, in total and for each reportable segment, the changes in the carrying amount of goodwill during the period (including the aggregate amount of goodwill acquired, the aggregate amount of impairment losses recognized, and the amount of goodwill included in the gain (loss) on disposal of a reporting unit). If any part of goodwill has not been allocated to a reportable segment, discloses the unallocated amount and the reasons for not allocating. For each impairment loss recognized related to an intangible asset (excluding goodwill), discloses: (a) a description of the impaired intangible asset and the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method for determining fair value, (c) the caption in the income statement or the statement of activities in which the impairment loss is aggregated, and (d) the segment in which the impaired intangible asset is reported. For each goodwill impairment loss recognized, discloses: (a) a description of the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method of determining the fair value of the associated reporting unit, and (c) if a recognized impairment loss is an estimate not finalized and the reasons why the estimate is not final. May also disclose the nature and amount of any significant adjustments made to a previous estimate of an impairment loss.

+ References + Details

Long-term Debt

9 Months Ended

Sep. 30, 2014

Debt Disclosure [Abstract]

Debt and Capital Leases Disclosures

6. LONG-TERM DEBT

Long-term debt consisted of the following:

	September 30,		December 31,
In thousands	2014		2013
4.375% Senior Notes, due 2023	$	250,000	$	250,000
Revolving Credit Facility		270,000		200,000
Capital Leases		2,042		709
Total		522,042		450,709
Less - current portion		955		421
Long-term portion	$	521,087	$	450,288

2013 Refinancing Credit Agreement

On December 19, 2013, the Company amended its existing revolving credit facility with a consortium of commercial banks. This “2013 Refinancing Credit Agreement” provides the Company with an $800 million, five-year revolving credit facility. The Company incurred approximately $1.0 million of deferred financing cost related to the 2013 Refinancing Credit Agreement. The facility expires on December 19, 2018. The 2013 Refinancing Credit Agreement borrowings bear variable interest rates indexed as described below. At September 30, 2014, the Company had available bank borrowing capacity, net of $17.0 million of letters of credit, of approximately $513.0 million, subject to certain financial covenant restrictions.

Under the 2013 Refinancing Credit Agreement, the Company may elect a Base Rate of interest for U.S. Dollar denominated loans or, for certain currencies, an interest rate based on the London Interbank Offered Rate (“LIBOR”) of interest, or other rates appropriate for such currencies (in any case, “the Alternate Rate”). The Base Rate adjusts on a daily basis and is the greater of the Federal Funds Effective Rate plus 0.5% per annum, the PNC, N.A. prime rate or the Daily LIBOR Rate plus 100 basis points, plus a margin that ranges from 0 to 75 basis points. The Alternate Rate is based on the quoted rates specific to the applicable currency, plus a margin that ranges from 75 to 175 basis points. Both the Base Rate and Alternate Rate margins are dependent on the Company’s consolidated total indebtedness to cash flow ratios. The initial Base Rate margin is 0 basis points and the Alternate Rate margin is 75 basis points.

At September 30, 2014 the weighted average interest rate on the Company’s variable rate debt was 1.16%. On January 12, 2012, the Company entered into a forward starting interest rate swap agreement with a notional value of $150.0 million. The effective date of the interest rate swap agreement is July 31, 2013, and the termination date is November 7, 2016. The impact of the interest rate swap agreement converts a portion of the Company’s outstanding debt from a variable rate to a fixed-rate borrowing. During the term of the interest rate swap agreement the interest rate on the notional value will be fixed at 1.415% plus the Alternate Rate margin. The Company is exposed to credit risk in the event of nonperformance by the counterparty. However, since only the cash interest payments are exchanged, exposure is significantly less than the notional amount. The counterparty is a large financial institution with an excellent credit rating and history of performance. The Company currently believes the risk of nonperformance is negligible.

On June 5, 2014, the Company entered into a forward starting interest rate swap agreement with a notional value of $150.0 million. The effective date of the interest rate swap agreement is November 7, 2016, and the termination date is December 19, 2018. The impact of the interest rate swap agreement converts a portion of the Company’s outstanding debt from a variable rate to a fixed-rate borrowing. During the term of the interest rate swap agreement the interest rate on the notional value will be fixed at 2.56% plus the Alternate Rate margin. The Company is exposed to credit risk in the event of nonperformance by the counterparty. However, since only the cash interest payments are exchanged, exposure is significantly less than the notional amount. The counterparty is a large financial institution with an excellent credit rating and history of performance. The Company currently believes the risk of nonperformance is negligible.

The 2013 Refinancing Credit Agreement limits the Company’s ability to declare or pay cash dividends and prohibits the Company from declaring or making other distributions, subject to certain exceptions. The 2013 Refinancing Credit Agreement contains various other covenants and restrictions including the following limitations: incurrence of additional indebtedness; mergers, consolidations, sales of assets and acquisitions; additional liens; sale and leasebacks; permissible investments, loans and advances; certain debt payments; and imposes a minimum interest expense coverage ratio of 3.0 and a maximum debt to cash flow ratio of 3.25. The Company does not expect that these measurements will limit the Company in executing our operating activities.

2011 Refinancing Credit Agreement

On November 7, 2011, the Company refinanced its existing revolving credit and term loan facility with a consortium of commercial banks. This “2011 Refinancing Credit Agreement” provided the company with a $600 million, five-year revolving credit facility. The Company incurred approximately $1.9 million of deferred financing cost related to the 2011 Refinancing Credit Agreement. The facility was set to expire on November 7, 2016.

Under the 2011 Refinancing Credit Agreement, the Company may have elected a Base Rate of interest or an interest rate based on the London Interbank Offered Rate (“LIBOR”) of interest (“the Alternate Rate”). The Base Rate adjusted on a daily basis and was the greater of the Federal Funds Effective Rate plus 0.5% per annum, the PNC, N.A. prime rate or the Daily LIBOR Rate plus 100 basis points plus a margin that ranged from 0 to 75 basis points. The Alternate Rate was based on quoted LIBOR rates plus a margin that ranged from 75 to 175 basis points. Both the Base Rate and Alternate Rate margins were dependent on the Company’s consolidated total indebtedness to cash flow ratios. The current Base Rate margin was 0 basis points and the Alternate Rate margin was 100 basis points.

4.375% Senior Notes Due August 2023

In August 2013, the Company issued $250.0 million of Senior Notes due in 2023 (the “2013 Notes”). The 2013 Notes were issued at 99.879% of face value. Interest on the 2013 Notes accrues at a rate of 4.375% per annum and is payable semi-annually on February 15 and August 15 of each year. The proceeds were used to repay debt outstanding under the Company’s existing credit agreement, and for general corporate purposes. The principal balance is due in full at maturity. The Company incurred $2.6 million of deferred financing costs related to the issuance.

The 2013 Notes are senior unsecured obligations of the Company and rank pari passu with all existing and future senior debt and senior to all existing and future subordinated indebtedness of the Company. The indenture under which the 2013 Notes were issued contains covenants and restrictions which limit among other things, the following: the incurrence of indebtedness, payment of dividends and certain distributions, sale of assets, change in control, mergers and consolidations and the incurrence of liens.

The Company is in compliance with the restrictions and covenants in the indenture under which the 2013 Notes were issued and expects that these restrictions and covenants will not be any type of limiting factor in executing our operating activities.

6.875% Senior Notes Due July 31, 2013

In August 2003, the Company issued $150.0 million of Senior Notes due in 2013 (“the 2003 Notes”). The 2003 Notes were issued at par. Interest on the 2003 Notes accrued at a rate of 6.875% per annum and was payable semi-annually on January 31 and July 31 of each year. The proceeds were used to repay debt outstanding under the Company’s existing credit agreement, and for general corporate purposes. The Company paid off the 2003 Notes, which matured on July 31, 2013 utilizing available capacity under the 2011 Refinancing Credit Agreement.

Employee Benefit Plans

9 Months Ended

Sep. 30, 2014

Compensation And Retirement Disclosure [Abstract]

Employee Benefit Plans

7. EMPLOYEE BENEFIT PLANS

Defined Benefit Pension Plans

The Company sponsors defined benefit pension plans that cover certain U.S., Canadian, German, and United Kingdom employees and which provide benefits of stated amounts for each year of service of the employee.

The Company uses a December 31 measurement date for the plans.

The following tables provide information regarding the Company’s defined benefit pension plans summarized by U.S. and international components.

	U.S.						International
	Three Months Ended						Three Months Ended
	September 30,						September 30,
In thousands, except percentages	2014			2013			2014			2013
Net periodic benefit cost
Service cost	$	54		$	111		$	659		$	505
Interest cost		488			490			2,271			1,651
Expected return on plan assets		(617	)		(752	)		(2,655	)		(2,087	)
Net amortization/deferrals		355			753			766			849
Settlement loss recognized		-			-			-			166
Net periodic benefit cost	$	280		$	602		$	1,041		$	1,084


	U.S.						International
	Nine Months Ended						Nine Months Ended
	September 30,						September 30,
In thousands, except percentages	2014			2013			2014			2013
Net periodic benefit cost
Service cost	$	250		$	323		$	1,511		$	1,524
Interest cost		1,552			1,472			5,936			4,984
Expected return on plan assets		(1,857	)		(2,232	)		(7,116	)		(6,304	)
Net amortization/deferrals		1,665			2,431			2,292			2,570
Settlement loss recognized		-			-			-			166
Net periodic benefit cost	$	1,610		$	1,994		$	2,623		$	2,940

The Company’s funding methods are based on governmental requirements and differ from those methods used to recognize pension expense. The Company expects to contribute $5.2 million to the international plans and does not expect to make a contribution to the U.S. plans during 2014.

Post Retirement Benefit Plans

In addition to providing pension benefits, the Company has provided certain unfunded postretirement health care and life insurance benefits for a portion of North American employees. The Company is not obligated to pay health care and life insurance benefits to individuals who had retired prior to 1990.

The Company uses a December 31 measurement date for all post retirement plans.

The following tables provide information regarding the Company’s postretirement benefit plans summarized by U.S. and international components.

	U.S.						International
	Three Months Ended						Three Months Ended
	September 30,						September 30,
In thousands, except percentages	2014			2013			2014			2013
Net periodic benefit cost
Service cost	$	7		$	22		$	10		$	12
Interest cost		289			192			42			42
Net amortization/deferrals		(350	)		(367	)		(16	)		(75	)
Net periodic benefit (credit) cost	$	(54	)	$	(153	)	$	36		$	(21	)


	U.S.						International
	Nine Months Ended						Nine Months Ended
	September 30,						September 30,
In thousands, except percentages	2014			2013			2014			2013
Net periodic benefit cost
Service cost	$	27		$	36		$	28		$	36
Interest cost		881			834			126			129
Net amortization/deferrals		(1,003	)		(791	)		(46	)		(228	)
Net periodic benefit (credit) cost	$	(95	)	$	79		$	108		$	(63	)

Stock-based Compensation

9 Months Ended

Sep. 30, 2014

Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]

Stock-based Compensation

8. STOCK-BASED COMPENSATION

As of September 30, 2014, the Company maintains employee stock-based compensation plans for stock options, restricted stock, restricted units, and incentive stock awards as governed by the 2011 Stock Incentive Compensation Plan (the “2011 Plan”) and the 2000 Stock Incentive Plan, as amended (the “2000 Plan”). The 2011 Plan has a 10-year term through March 27, 2021 and provides a maximum of 3,800,000 shares for grants or awards. The 2011 Plan was approved by stockholders of Wabtec on May 11, 2011. The Company also maintains a Non-Employee Directors’ Fee and Stock Option Plan (“Directors Plan”). No awards may be made under the Directors Plan subsequent to October 31, 2016.

Stock-based compensation expense was $19.1 million and $17.6 million for the nine months ended September 30, 2014 and 2013, respectively. Included in the stock-based compensation expense for the nine months ended September 30, 2014 above is $1.8 million of expense related to stock options, $4.5 million related to restricted stock, $1.8 million related to restricted units, $10.3 million related to incentive stock awards and $0.7 million related to awards issued for Directors’ fees. At September 30, 2014, unamortized compensation expense related to stock options, restricted stock, restricted units and incentive stock awards expected to vest totaled $27.7 million and will be recognized over a weighted average period of 1.2 years.

Stock Options Stock options are granted to eligible employees and directors at the fair market value, which is the average of the high and low Wabtec stock price on the date of grant. Under the 2011 Plan and the 2000 Plan, options become exercisable over a four-year vesting period and expire 10 years from the date of grant.

The following table summarizes the Company’s stock option activity and related information for the 2011 Plan, the 2000 Plan and the Directors Plan for the nine months ended September 30, 2014:

				Weighted		Weighted
				Average		Average		Aggregate
				Exercise		Remaining		Intrinsic value
	Options			Price		Contractual Life		(in thousands)
Outstanding at December 31, 2013		1,232,862		$	24.36		6.1	$	61,530
Granted		81,552			73.20				661
Exercised		(144,210	)		21.11				(8,682	)
Canceled		(3,070	)		52.73				(88	)
Outstanding at September 30, 2014		1,167,134		$	28.10		5.7	$	62,101
Exercisable at September 30, 2014		815,518		$	20.69		4.8	$	49,435

The fair value of each option grant is estimated on the date of grant using the Black-Scholes option pricing model with the following weighted-average assumptions:

	Nine Months Ended
	September 30,
	2014			2013
Dividend yield		0.11	%		0.21	%
Risk-free interest rate		2.19	%		1.38	%
Stock price volatility		33.0	%		43.8	%
Expected life (years)		5.0			5.0

The dividend yield is based on the Company’s dividend rate and the current market price of the underlying common stock at the date of grant. Expected life in years is determined from historical stock option exercise data. Expected volatility is based on the historical volatility of the Company’s stock. The risk-free interest rate is based on the U.S. Treasury bond rates for the expected life of the option.

Restricted Stock, Restricted Units and Incentive Stock Beginning in 2006 the Company adopted a restricted stock program. As provided for under the 2011 and 2000 Plans, eligible employees are granted restricted stock or restricted units that generally vest over four years from the date of grant. Under the Directors Plan, restricted stock awards vest one year from the date of grant.

In addition, the Company has issued incentive stock awards to eligible employees that vest upon attainment of certain cumulative three year performance goals. Based on the Company’s performance for each three-year period then ended, the incentive stock awards can vest and be awarded ranging from 0% to 200% of the initial incentive stock awards granted. The incentive stock awards included in the table below represent the number of shares that are expected to vest based on the Company’s estimate for meeting those established performance targets. As of September 30, 2014, the Company estimates that it will achieve 180%, 104% and 100% for the incentive stock awards expected to vest based on performance for the three-year periods ending December 31, 2014, 2015, and 2016, respectively, and has recorded incentive compensation expense accordingly. If our estimate of the number of these stock awards expected to vest changes in a future accounting period, cumulative compensation expense could increase or decrease and will be recognized in the current period for the elapsed portion of the vesting period and would change future expense for the remaining vesting period.

Compensation expense for the restricted stock and incentive stock awards is based on the average of the high and low Wabtec stock price on the date of grant and recognized over the applicable vesting period.

The following table summarizes the restricted stock and unit activity for the 2011 Plan, the 2000 Plan and the Directors Plan, and incentive stock awards activity for the 2011 Plan and the 2000 Plan with related information for the nine months ended September 30, 2014:

							Weighted
	Restricted			Incentive			Average Grant
	Stock			Stock			Date Fair
	and Units			Awards			Value
Outstanding at December 31, 2013		510,128			1,043,594		$	35.27
Granted		149,136			140,240			61.72
Vested		(218,502	)		(458,536	)		29.83
Adjustment for incentive stock awards expected to vest		-			52,292			39.37
Canceled		(3,970	)		(8,370	)		45.92
Outstanding at September 30, 2014		436,792			769,220		$	44.74

Income Taxes	9 Months Ended
Income Taxes	Sep. 30, 2014
Income Tax Disclosure [Abstract]
Income Taxes	9. INCOME TAXES The overall effective income tax rate was 31.3% and 31.2% for the three and nine months ended September 30, 2014, respectively, and 29.2% and 30.4% for the three and nine months ended September 30, 2013, respectively. For the three months ended September 30, 2014, the increase in the effective rate is primarily due to a benefit recorded in the third quarter of 2013 for the enacted reduction of a foreign statutory tax rate. For the nine months ended September 30, 2014, the increase in the effective rate is also due to a 2013 benefit for the retroactive extension of the R&D tax credit. As of September 30, 2014, the liability for income taxes associated with uncertain tax positions is $10.4 million, of which $4.7 million, if recognized, would favorably affect the Company’s effective tax rate. As of December 31, 2013 the liability associated with uncertain tax positions was $10.5 million, of which $4.7 million, if recognized, would favorably affect the Company’s effective tax rate. The Company includes interest and penalties related to uncertain tax positions in income tax expense. As of September 30, 2014 the total accrued interest and penalties are $1.9 million and $1.2 million, respectively. As of December 31, 2013 the total accrued interest and penalties were $1.5 million and $0.9 million, respectively. At this time, the Company believes that it is reasonably possible that unrecognized tax benefits of approximately $0.1 million may change within the next 12 months due to the expiration of statutory review periods and current examinations. With limited exception, the Company is no longer subject to examination by various U.S. and foreign taxing authorities for years before 2011.

Earnings Per Share

9 Months Ended

Sep. 30, 2014

Earnings Per Share [Abstract]

Earnings Per Share

10. EARNINGS PER SHARE

The computation of basic and diluted earnings per share for net income attributable to Wabtec shareholders is as follows:

	Three Months Ended
	September 30,
In thousands, except per share data	2014			2013
Numerator
Numerator for basic and diluted earnings per common share - net income attributable
to Wabtec shareholders	$	90,155		$	73,943
Less: dividends declared - common shares and non-vested restricted stock		(5,780	)		(4,003	)
Undistributed earnings		84,375			69,940
Percentage allocated to common shareholders (1)		99.6	%		99.6	%
		84,038			69,660
Add: dividends declared - common shares		5,759			3,986
Numerator for basic and diluted earnings per common share	$	89,797		$	73,646
Denominator
Denominator for basic earnings per common share - weighted average shares		95,935			95,848
Effect of dilutive securities:
Assumed conversion of dilutive stock-based compensation plans		1,069			1,326
Denominator for diluted earnings per common share - adjusted weighted average
shares and assumed conversion		97,004			97,174
Net income per common share attributable to Wabtec shareholders
Basic	$	0.94		$	0.77
Diluted	$	0.93		$	0.76

(1) Basic weighted-average common shares outstanding	95,935		95,848
Basic weighted-average common shares outstanding and non-vested restricted
stock expected to vest	96,285		96,273
Percentage allocated to common shareholders	99.6	%	99.6	%

	Nine Months Ended
	September 30,
In thousands, except per share data	2014			2013
Numerator
Numerator for basic and diluted earnings per common share - net income attributable
to Wabtec shareholders	$	258,994		$	218,194
Less: dividends declared - common shares and non-vested restricted stock		(13,471	)		(8,799	)
Undistributed earnings		245,523			209,395
Percentage allocated to common shareholders (1)		99.6	%		99.5	%
		244,541			208,348
Add: dividends declared - common shares		13,415			8,757
Numerator for basic and diluted earnings per common share	$	257,956		$	217,105
Denominator
Denominator for basic earnings per common share - weighted average shares		95,745			95,383
Effect of dilutive securities:
Assumed conversion of dilutive stock-based compensation plans		1,089			1,371
Denominator for diluted earnings per common share - adjusted weighted average
shares and assumed conversion		96,834			96,754
Net income per common share attributable to Wabtec shareholders
Basic	$	2.69		$	2.28
Diluted	$	2.67		$	2.25

(1) Basic weighted-average common shares outstanding	95,745		95,383
Basic weighted-average common shares outstanding and non-vested restricted
stock expected to vest	96,146		95,850
Percentage allocated to common shareholders	99.6	%	99.5	%

The Company’s non-vested restricted stock contains rights to receive nonforfeitable dividends, and thus, are participating securities requiring the two-class method of computing earnings per share. The calculation of earnings per share for common stock shown above excludes the income attributable to the non-vested restricted stock from the numerator and excludes the dilutive impact of those shares from the denominator.

Warranties

9 Months Ended

Sep. 30, 2014

Disclosure Changes In Product Warranty Reserve [Abstract]

Warranties

11. WARRANTIES

The following table reconciles the changes in the Company’s product warranty reserve as follows:

	Nine Months Ended
	September 30,
In thousands	2014			2013
Balance at December 31, 2013 and 2012, respectively	$	60,593		$	58,212
Warranty expense		22,104			18,677
Acquisitions		3,567			2,244
Warranty claim payments		(14,572	)		(16,740	)
Foreign currency impact/other		(980	)		(109	)
Balance at September 30, 2014 and 2013, respectively	$	70,712		$	62,284

Fair Value Measurement and Fair Value of Financial Instruments

9 Months Ended

Sep. 30, 2014

Fair Value Disclosures [Abstract]

Fair Value Measurement and Fair Value of Financial Instruments

12. FAIR VALUE MEASUREMENT AND FAIR VALUE OF FINANCIAL INSTRUMENTS

ASC 820 “Fair Value Measurements and Disclosures” defines fair value, establishes a framework for measuring fair value and explains the related disclosure requirements. ASC 820 indicates, among other things, that a fair value measurement assumes that the transaction to sell an asset or transfer a liability occurs in the principal market for the asset or liability or, in the absence of a principal market, the most advantageous market for the asset or liability and defines fair value based upon an exit price model.

Valuation Hierarchy ASC 820 establishes a valuation hierarchy for disclosure of the inputs to valuation used to measure fair value. This hierarchy prioritizes the inputs into three broad levels as follows. Level 1 inputs are quoted prices (unadjusted) in active markets for identical assets or liabilities. Level 2 inputs are quoted prices for similar assets and liabilities in active markets or inputs that are observable for the asset or liability, either directly or indirectly through market corroboration, for substantially the full term of the financial instrument. Level 3 inputs are unobservable inputs based on the Company’s assumptions used to measure assets and liabilities at fair value. A financial asset or liability’s classification within the hierarchy is determined based on the lowest level input that is significant to the fair value measurement.

The following table provides the liabilities carried at fair value measured on a recurring basis as of September 30, 2014, which are included in other current liabilities on the Condensed Consolidated Balance sheet:

			Fair Value Measurements at September 30, 2014 Using
	Total Carrying		Quoted Prices in				Significant
	Value at		Active Markets for		Significant Other		Unobservable
	September 30,		Identical Assets		Observable Inputs		Inputs
In thousands	2014		(Level 1)		(Level 2)		(Level 3)
Interest rate swap agreements		2,389		-		2,389		-
Total	$	2,389	$	-	$	2,389	$	-

The following table provides the liabilities carried at fair value measured on a recurring basis as of December 31, 2013, which is included in other current liabilities on the Condensed Consolidated Balance sheet:

			Fair Value Measurements at December 31, 2013 Using
	Total Carrying		Quoted Prices in				Significant
	Value at		Active Markets for		Significant Other		Unobservable
	December 31,		Identical Assets		Observable Inputs		Inputs
In thousands	2013		(Level 1)		(Level 2)		(Level 3)
Interest rate swap agreements		3,005		-		3,005		-
Total	$	3,005	$	-	$	3,005	$	-

To reduce the impact of interest rate changes on a portion of its variable-rate debt, the Company entered into interest rate swaps which effectively converted a portion of the debt from variable to fixed-rate borrowings during the term of the swap contracts. For certain derivative contracts whose fair values are based upon trades in liquid markets, such as interest rate swaps, valuation model inputs can generally be verified and valuation techniques do not involve significant management judgment. The fair values of such financial instruments are generally classified within Level 2 of the fair value hierarchy.

As a result of our global operating activities the Company is exposed to market risks from changes in foreign currency exchange rates, which may adversely affect our operating results and financial position. When deemed appropriate, the Company minimizes these risks through entering into foreign currency forward contracts. The foreign currency forward contracts are valued using broker quotations, or market transactions in either the listed or over-the counter markets. As such, these derivative instruments are classified within Level 2.

The Company’s cash and cash equivalents are highly liquid investments purchased with an original maturity of three months or less and are considered Level 1 on the fair value valuation hierarchy. The fair value of cash and cash equivalents approximated the carrying value at September 30, 2014 and December 31, 2013. The Company’s defined benefit pension plan assets consist primarily of equity security funds, debt security funds and temporary cash and cash equivalent investments. Generally, all plan assets are considered Level 2 based on the fair value valuation hierarchy. These investments are comprised of a number of investment funds that invest in a diverse portfolio of assets including equity securities, corporate and governmental bonds, and money markets. Trusts are valued at the net asset value (“NAV”) as determined by their custodian. NAV represent the accumulation of the unadjusted quoted close prices on the reporting date for the underlying investments divided by the total shares outstanding at the reporting dates. The 2013 Notes are considered Level 2 based on the fair value valuation hierarchy.

The estimated fair values and related carrying values of the Company’s financial instruments are as follows:

	September 30, 2014				December 31, 2013
	Carry		Fair		Carry		Fair
In thousands	Value		Value		Value		Value
Interest rate swap agreement	$	2,389	$	2,389	$	3,005	$	3,005
4.375% Senior Notes		250,000		264,633		250,000		253,135

The fair value of the Company’s interest rate swap agreements and the 2013 Notes were based on dealer quotes and represent the estimated amount the Company would pay to the counterparty to terminate the agreement.

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References + Details

Commitments and Contingencies	9 Months Ended
Commitments and Contingencies	Sep. 30, 2014
Commitments And Contingencies Disclosure [Abstract]
Commitments and Contingencies	13. COMMITMENTS AND CONTINGENCIES Claims have been filed against the Company and certain of its affiliates in various jurisdictions across the United States by persons alleging bodily injury as a result of exposure to asbestos-containing products. Further information and detail on these claims is described in the Company’s Annual Report on Form 10-K for the year ended December 31, 2013, in Note 18 therein, filed on February 21, 2014. During the first nine months for 2014, there were no material changes to the information described in the Form 10-K. The Company is also subject to litigation from time to time arising out of its operations in the ordinary course of business, including claims based on product liability, contracts, intellectual property, or other causes of action. Further information and detail on any potentially material litigation is as described in the Company’s Annual Report on Form 10-K for the year ended December 31, 2013, in Note 18 therein, filed on February 21, 2014. During the first nine months of 2014, there were no material changes to the information described in the Form 10-K.

Segment Information

9 Months Ended

Sep. 30, 2014

Segment Reporting [Abstract]

Segment Information

14. SEGMENT INFORMATION

Wabtec has two reportable segments—the Freight Segment and the Transit Segment. The key factors used to identify these reportable segments are the organization and alignment of the Company’s internal operations, the nature of the products and services, and customer type. The business segments are:

Freight Segment primarily manufactures and services components for new and existing freight cars and locomotives, builds new switcher locomotives, rebuilds freight locomotives, supplies railway electronics, positive train control equipment, signal design and engineering services, friction products, and provides related heat exchange and cooling systems. Customers include large, publicly traded railroads, leasing companies, manufacturers of original equipment such as locomotives and freight cars, and utilities.

Transit Segment primarily manufactures and services components for new and existing passenger transit vehicles, typically subway cars and buses, builds new commuter locomotives, friction products, and refurbishes subway cars. Customers include public transit authorities and municipalities, leasing companies, and manufacturers of subway cars and buses around the world.

The Company evaluates its business segments’ operating results based on income from operations. Corporate activities include general corporate expenses, elimination of intersegment transactions, interest income and expense and other unallocated charges. Since certain administrative and other operating expenses and other items have not been allocated to business segments, the results in the following tables are not necessarily a measure computed in accordance with generally accepted accounting principles and may not be comparable to other companies.

Segment financial information for the three months ended September 30, 2014 is as follows:

					Corporate
	Freight		Transit		Activities and
In thousands	Segment		Segment		Elimination			Total
Sales to external customers	$	453,329	$	343,942	$	-		$	797,271
Intersegment sales/(elimination)		9,781		1,822		(11,603	)		-
Total sales	$	463,110	$	345,764	$	(11,603	)	$	797,271
Income (loss) from operations	$	102,182	$	40,734	$	(6,939	)	$	135,977
Interest expense and other, net		-		-		(4,748	)		(4,748	)
Income (loss) from operations before income taxes	$	102,182	$	40,734	$	(11,687	)	$	131,229

Segment financial information for the three months ended September 30, 2013 is as follows:

					Corporate
	Freight		Transit		Activities and
In thousands	Segment		Segment		Elimination			Total
Sales to external customers	$	340,533	$	290,865	$	-		$	631,398
Intersegment sales/(elimination)		5,410		2,642		(8,052	)	$	-
Total sales	$	345,943	$	293,507	$	(8,052	)	$	631,398
Income (loss) from operations	$	77,299	$	36,335	$	(3,763	)	$	109,871
Interest expense and other, net		-		-		(5,487	)		(5,487	)
Income (loss) from operations before income taxes	$	77,299	$	36,335	$	(9,250	)	$	104,384

Segment financial information for the nine months ended September 30, 2014 is as follows:

					Corporate
	Freight		Transit		Activities and
In thousands	Segment		Segment		Elimination			Total
Sales to external customers	$	1,250,337	$	973,251	$	-		$	2,223,588
Intersegment sales/(elimination)		27,074		6,096		(33,170	)		-
Total sales	$	1,277,411	$	979,347	$	(33,170	)	$	2,223,588
Income (loss) from operations	$	294,396	$	112,009	$	(16,259	)	$	390,146
Interest expense and other, net		-		-		(13,497	)		(13,497	)
Income (loss) from operations before income taxes	$	294,396	$	112,009	$	(29,756	)	$	376,649

Segment financial information for the nine months ended September 30, 2013 is as follows:

					Corporate
	Freight		Transit		Activities and
In thousands	Segment		Segment		Elimination			Total
Sales to external customers	$	1,009,069	$	875,841	$	-		$	1,884,910
Intersegment sales/(elimination)		20,384		5,407		(25,791	)	$	-
Total sales	$	1,029,453	$	881,248	$	(25,791	)	$	1,884,910
Income (loss) from operations	$	225,734	$	110,809	$	(10,451	)	$	326,092
Interest expense and other, net		-		-		(12,547	)		(12,547	)
Income (loss) from operations before income taxes	$	225,734	$	110,809	$	(22,998	)	$	313,545


Sales by product are as follows:

	Three Months Ended
	September 30,
In thousands	2014		2013
Specialty Products & Electronics	$	390,038	$	263,595
Brake Products		170,826		137,189
Remanufacturing, Overhaul & Build		142,620		161,857
Other Transit Products		51,607		50,270
Other		42,180		18,487
Total sales	$	797,271	$	631,398

Sales by product are as follows:

	Nine Months Ended
	September 30,
In thousands	2014		2013
Specialty Products & Electronics	$	980,897	$	764,222
Brake Products		487,095		417,921
Remanufacturing, Overhaul & Build		474,444		489,391
Other Transit Products		155,144		153,698
Other		126,008		59,678
Total sales	$	2,223,588	$	1,884,910

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 34
-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8981-108599

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 41
-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e9038-108599

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 33
-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8971-108599

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 12
-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8595-108599

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8380-108599

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8933-108599

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 26
-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8844-108599

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 35
-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8984-108599

Reference 9: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 40
-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e9031-108599

Reference 10: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 42
-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e9054-108599

Reference 11: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 10
-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8538-108599

Reference 12: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 29
-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8864-108599

Reference 13: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 31
-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8924-108599

Reference 14: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8906-108599

+ Details

Other Income (Expense), Net

9 Months Ended

Sep. 30, 2014

Other Income And Expenses [Abstract]

Other Income (Expense), Net

15. OTHER INCOME (EXPENSE), NET

The components of other income (expense) are as follows:

	Three Months Ended						Nine Months Ended
	September 30,						September 30,
In thousands	2014			2013			2014			2013
Foreign currency gain (loss)	$	(455	)	$	(1,002	)	$	(554	)	$	(2,933	)
Other miscellaneous income (expense)		301			(656	)		626			1,100
Total other income (expense), net	$	(154	)	$	(1,658	)	$	72		$	(1,833	)

Accounting Policies (Policies)

9 Months Ended

Sep. 30, 2014

Accounting Policies [Abstract]

Basis of Presentation

The Company operates on a four-four-five week accounting quarter, and the quarters end on or about March 31, June 30, September 30 and December 31.

Capital Structure

Reclassifications

Reclassifications Certain prior year footnote amounts have been reclassified where necessary to conform to the current year presentation.

Revenue Recognition

Use of Estimates

Financial Derivatives and Hedging Activities

Foreign Currency Translation

Noncontrolling Interests

Other Comprehensive Income

Other Comprehensive Income Comprehensive income is defined as net income and all other non-owner changes in shareholders’ equity.

The changes in accumulated other comprehensive loss by component, net of tax, for the nine months ended September 30, 2014 are as follows:

							Pension and
	Foreign						post
	currency			Derivative			retirement
In thousands	translation			contracts			benefits plans			Total
Balance at December 31, 2013	$	17,326		$	(2,010	)	$	(50,172	)	$	(34,856	)
Other comprehensive income (loss) before reclassifications		(52,876	)		(876	)		1,156			(52,596	)
Amounts reclassified from accumulated other
comprehensive income		-			1,167			2,000			3,167
Net current period other comprehensive income (loss)		(52,876	)		291			3,156			(49,429	)
Balance at September 30, 2014	$	(35,550	)	$	(1,719	)	$	(47,016	)	$	(84,285	)

Reclassifications out of accumulated other comprehensive loss for the three months ended September 30, 2014 are as follows:

	Amount reclassified from			Affected line item in the
	accumulated other			Condensed Consolidated
In thousands	comprehensive income			Statements of Operations
Amortization of defined pension and post retirement items
Amortization of initial net obligation and prior service cost	$	(613	)	Cost of sales
Amortization of net loss		1,368		Cost of sales
		755		Income from Operations
		(236	)	Income tax expense
	$	519		Net income

Derivative contracts
Realized loss on derivative contracts	$	492		Interest expense, net
		(154	)	Income tax expense
	$	338		Net income

Reclassifications out of accumulated other comprehensive loss for the nine months ended September 30, 2014 are as follows:

	Amount reclassified from			Affected line item in the
	accumulated other			Condensed Consolidated
In thousands	comprehensive income			Statements of Operations
Amortization of defined pension and post retirement items
Amortization of initial net obligation and prior service cost	$	(1,843	)	Cost of sales
Amortization of net loss		4,751		Cost of sales
		2,908		Income from Operations
		(908	)	Income tax expense
	$	2,000		Net income

Derivative contracts
Realized loss on derivative contracts	$	1,697		Interest expense, net
		(530	)	Income tax expense
	$	1,167		Net income

Accounting Policies (Tables)

9 Months Ended

Sep. 30, 2014

Accounting Policies [Abstract]

Changes in Accumulated Other Comprehensive Loss by Component, Net of Tax

The changes in accumulated other comprehensive loss by component, net of tax, for the nine months ended September 30, 2014 are as follows:

							Pension and
	Foreign						post
	currency			Derivative			retirement
In thousands	translation			contracts			benefits plans			Total
Balance at December 31, 2013	$	17,326		$	(2,010	)	$	(50,172	)	$	(34,856	)
Other comprehensive income (loss) before reclassifications		(52,876	)		(876	)		1,156			(52,596	)
Amounts reclassified from accumulated other
comprehensive income		-			1,167			2,000			3,167
Net current period other comprehensive income (loss)		(52,876	)		291			3,156			(49,429	)
Balance at September 30, 2014	$	(35,550	)	$	(1,719	)	$	(47,016	)	$	(84,285	)

Reclassifications Out of Accumulated Other Comprehensive Loss

Reclassifications out of accumulated other comprehensive loss for the three months ended September 30, 2014 are as follows:

	Amount reclassified from			Affected line item in the
	accumulated other			Condensed Consolidated
In thousands	comprehensive income			Statements of Operations
Amortization of defined pension and post retirement items
Amortization of initial net obligation and prior service cost	$	(613	)	Cost of sales
Amortization of net loss		1,368		Cost of sales
		755		Income from Operations
		(236	)	Income tax expense
	$	519		Net income

Derivative contracts
Realized loss on derivative contracts	$	492		Interest expense, net
		(154	)	Income tax expense
	$	338		Net income

Reclassifications out of accumulated other comprehensive loss for the nine months ended September 30, 2014 are as follows:

	Amount reclassified from			Affected line item in the
	accumulated other			Condensed Consolidated
In thousands	comprehensive income			Statements of Operations
Amortization of defined pension and post retirement items
Amortization of initial net obligation and prior service cost	$	(1,843	)	Cost of sales
Amortization of net loss		4,751		Cost of sales
		2,908		Income from Operations
		(908	)	Income tax expense
	$	2,000		Net income

Derivative contracts
Realized loss on derivative contracts	$	1,697		Interest expense, net
		(530	)	Income tax expense
	$	1,167		Net income

Acquisitions (Tables)

9 Months Ended

Sep. 30, 2014

Business Combinations [Abstract]

Summary of Preliminary Estimated Fair Values of the Assets Acquired and Liabilities Assumed at the Date of the Acquisition

For the C2CE, Dia-Frag, and Fandstan acquisitions, the following table summarizes the preliminary estimated fair values of the assets acquired and liabilities assumed at the date of the acquisition. For the Longwood, Turbonetics, and Napier acquisitions, the following table summarizes the final fair values of the assets acquired and liabilities assumed at the date of acquisition.

	C2CE			Dia-Frag			Fandstan			Longwood			Turbonetics			Napier
	September 3,			August 21,			June 6,			September 24,			July 30,			January 31,
In thousands	2014			2014			2014			2013			2013			2013
Current assets	$	9,794		$	12,502		$	125,025		$	17,444		$	5,532		$	13,441
Property, plant & equipment		1,860			4,497			61,465			19,363			992			8,837
Goodwill		14,981			32,556			49,748			28,272			11,309			67,045
Other intangible assets		3,804			36,211			51,571			39,440			11,140			40,583
Other assets		-			65			309			7			-			-
Total assets acquired		30,439			85,831			288,118			104,526			28,973			129,906
Total liabilities assumed		(5,323	)		(15,190	)		(88,714	)		(20,663	)		(5,790	)		(17,565	)
Net assets acquired	$	25,116		$	70,641		$	199,404		$	83,863		$	23,183		$	112,341

Pro Forma Financial Information

The following unaudited pro forma consolidated financial information presents income statement results as if the acquisitions listed above had occurred on January 1, 2013:

	Three Months Ended		Three Months Ended		Nine Months Ended		Nine Months Ended
In thousands	September 30, 2014		September 30, 2013		September 30, 2014		September 30, 2013
Net sales	$	808,327	$	727,010	$	2,357,388	$	2,179,068
Gross profit		250,542		212,649		724,706		645,888
Net income attributable to Wabtec shareholders		91,519		79,897		269,469		239,151
Diluted earnings per share
As Reported	$	0.93	$	0.76	$	2.67	$	2.25
Pro forma	$	0.94	$	0.82	$	2.78	$	2.46

Inventories (Tables)

9 Months Ended

Sep. 30, 2014

Inventory Disclosure [Abstract]

Components of Inventory, Net of Reserves

The components of inventory, net of reserves, were:

	September 30,		December 31,
In thousands	2014		2013
Raw materials	$	192,042	$	165,906
Work-in-progress		155,574		137,449
Finished goods		141,437		99,874
Total inventories	$	489,053	$	403,229

Intangibles (Tables)

9 Months Ended

Sep. 30, 2014

Goodwill And Intangible Assets Disclosure [Abstract]

Change in the Carrying Amount of Goodwill by Segment

The change in the carrying amount of goodwill by segment for the nine months ended September 30, 2014 is as follows:

	Freight			Transit
In thousands	Segment			Segment			Total
Balance at December 31, 2013	$	509,664		$	276,769		$	786,433
Adjustment to preliminary purchase allocation		(2,488	)		(1,554	)		(4,042	)
Acquisitions		18,168			82,376			100,544
Foreign currency impact		(3,236	)		(15,239	)		(18,475	)
Balance at September 30, 2014	$	522,108		$	342,352		$	864,460

Intangible Assets of the Company, Other Than Goodwill and Trademarks

Intangible assets of the Company, other than goodwill and trademarks, consist of the following:

	September 30,		December 31,
In thousands	2014		2013
Patents, non-compete and other intangibles, net of accumulated
amortization of $39,867 and $37,824	$	19,573	$	15,561
Customer relationships, net of accumulated amortization
of $53,848 and $44,910		256,068		213,324
Total	$	275,641	$	228,885

Amortization Expense

Amortization expense for the five succeeding years is estimated to be as follows (in thousands):

Remainder of 2014	$	6,353
2015		22,324
2016		19,799
2017		18,903
2018		18,267

Long-term Debt (Tables)

9 Months Ended

Sep. 30, 2014

Debt Disclosure [Abstract]

Long-term Debt

Long-term debt consisted of the following:

	September 30,		December 31,
In thousands	2014		2013
4.375% Senior Notes, due 2023	$	250,000	$	250,000
Revolving Credit Facility		270,000		200,000
Capital Leases		2,042		709
Total		522,042		450,709
Less - current portion		955		421
Long-term portion	$	521,087	$	450,288

- Definition

Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02.22)
-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21475-112644

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 470
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=6479336&loc=d3e64711-112823

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08.(e),(f))
-URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 835
-SubTopic 30
-Section 55
-Paragraph 8
-URI http://asc.fasb.org/extlink&oid=34725769&loc=d3e28878-108400

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 8
-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21538-112644

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 6
-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21506-112644

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 835
-SubTopic 30
-Section 45
-Paragraph 1A
-URI http://asc.fasb.org/extlink&oid=6451184&loc=d3e28541-108399

Reference 9: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 835
-SubTopic 30
-Section 45
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=6451184&loc=d3e28551-108399

Reference 10: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 7
-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21521-112644

Reference 11: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 02
-Paragraph 22
-Article 5

+ Details

Employee Benefit Plans (Tables)

9 Months Ended

Sep. 30, 2014

Defined Benefit Pension Plans

Defined Benefit Pension and Postretirement Plans

The following tables provide information regarding the Company’s defined benefit pension plans summarized by U.S. and international components.

	U.S.						International
	Three Months Ended						Three Months Ended
	September 30,						September 30,
In thousands, except percentages	2014			2013			2014			2013
Net periodic benefit cost
Service cost	$	54		$	111		$	659		$	505
Interest cost		488			490			2,271			1,651
Expected return on plan assets		(617	)		(752	)		(2,655	)		(2,087	)
Net amortization/deferrals		355			753			766			849
Settlement loss recognized		-			-			-			166
Net periodic benefit cost	$	280		$	602		$	1,041		$	1,084


	U.S.						International
	Nine Months Ended						Nine Months Ended
	September 30,						September 30,
In thousands, except percentages	2014			2013			2014			2013
Net periodic benefit cost
Service cost	$	250		$	323		$	1,511		$	1,524
Interest cost		1,552			1,472			5,936			4,984
Expected return on plan assets		(1,857	)		(2,232	)		(7,116	)		(6,304	)
Net amortization/deferrals		1,665			2,431			2,292			2,570
Settlement loss recognized		-			-			-			166
Net periodic benefit cost	$	1,610		$	1,994		$	2,623		$	2,940

Postretirement Benefit Plans

Defined Benefit Pension and Postretirement Plans

The following tables provide information regarding the Company’s postretirement benefit plans summarized by U.S. and international components.

	U.S.						International
	Three Months Ended						Three Months Ended
	September 30,						September 30,
In thousands, except percentages	2014			2013			2014			2013
Net periodic benefit cost
Service cost	$	7		$	22		$	10		$	12
Interest cost		289			192			42			42
Net amortization/deferrals		(350	)		(367	)		(16	)		(75	)
Net periodic benefit (credit) cost	$	(54	)	$	(153	)	$	36		$	(21	)


	U.S.						International
	Nine Months Ended						Nine Months Ended
	September 30,						September 30,
In thousands, except percentages	2014			2013			2014			2013
Net periodic benefit cost
Service cost	$	27		$	36		$	28		$	36
Interest cost		881			834			126			129
Net amortization/deferrals		(1,003	)		(791	)		(46	)		(228	)
Net periodic benefit (credit) cost	$	(95	)	$	79		$	108		$	(63	)

Stock-based Compensation (Tables)

9 Months Ended

Sep. 30, 2014

Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]

Stock Option Activity

The following table summarizes the Company’s stock option activity and related information for the 2011 Plan, the 2000 Plan and the Directors Plan for the nine months ended September 30, 2014:

				Weighted		Weighted
				Average		Average		Aggregate
				Exercise		Remaining		Intrinsic value
	Options			Price		Contractual Life		(in thousands)
Outstanding at December 31, 2013		1,232,862		$	24.36		6.1	$	61,530
Granted		81,552			73.20				661
Exercised		(144,210	)		21.11				(8,682	)
Canceled		(3,070	)		52.73				(88	)
Outstanding at September 30, 2014		1,167,134		$	28.10		5.7	$	62,101
Exercisable at September 30, 2014		815,518		$	20.69		4.8	$	49,435

Schedule of Share-Based Fair Value of Each Option Grant Weighted-Average Assumptions

The fair value of each option grant is estimated on the date of grant using the Black-Scholes option pricing model with the following weighted-average assumptions:

	Nine Months Ended
	September 30,
	2014			2013
Dividend yield		0.11	%		0.21	%
Risk-free interest rate		2.19	%		1.38	%
Stock price volatility		33.0	%		43.8	%
Expected life (years)		5.0			5.0

Restricted Stock Activity and Incentive Stock Awards Activity

							Weighted
	Restricted			Incentive			Average Grant
	Stock			Stock			Date Fair
	and Units			Awards			Value
Outstanding at December 31, 2013		510,128			1,043,594		$	35.27
Granted		149,136			140,240			61.72
Vested		(218,502	)		(458,536	)		29.83
Adjustment for incentive stock awards expected to vest		-			52,292			39.37
Canceled		(3,970	)		(8,370	)		45.92
Outstanding at September 30, 2014		436,792			769,220		$	44.74

Earnings Per Share (Tables)

9 Months Ended

Sep. 30, 2014

Earnings Per Share [Abstract]

Basic and Diluted Earnings Per Share

The computation of basic and diluted earnings per share for net income attributable to Wabtec shareholders is as follows:

	Three Months Ended
	September 30,
In thousands, except per share data	2014			2013
Numerator
Numerator for basic and diluted earnings per common share - net income attributable
to Wabtec shareholders	$	90,155		$	73,943
Less: dividends declared - common shares and non-vested restricted stock		(5,780	)		(4,003	)
Undistributed earnings		84,375			69,940
Percentage allocated to common shareholders (1)		99.6	%		99.6	%
		84,038			69,660
Add: dividends declared - common shares		5,759			3,986
Numerator for basic and diluted earnings per common share	$	89,797		$	73,646
Denominator
Denominator for basic earnings per common share - weighted average shares		95,935			95,848
Effect of dilutive securities:
Assumed conversion of dilutive stock-based compensation plans		1,069			1,326
Denominator for diluted earnings per common share - adjusted weighted average
shares and assumed conversion		97,004			97,174
Net income per common share attributable to Wabtec shareholders
Basic	$	0.94		$	0.77
Diluted	$	0.93		$	0.76

(1) Basic weighted-average common shares outstanding	95,935		95,848
Basic weighted-average common shares outstanding and non-vested restricted
stock expected to vest	96,285		96,273
Percentage allocated to common shareholders	99.6	%	99.6	%

	Nine Months Ended
	September 30,
In thousands, except per share data	2014			2013
Numerator
Numerator for basic and diluted earnings per common share - net income attributable
to Wabtec shareholders	$	258,994		$	218,194
Less: dividends declared - common shares and non-vested restricted stock		(13,471	)		(8,799	)
Undistributed earnings		245,523			209,395
Percentage allocated to common shareholders (1)		99.6	%		99.5	%
		244,541			208,348
Add: dividends declared - common shares		13,415			8,757
Numerator for basic and diluted earnings per common share	$	257,956		$	217,105
Denominator
Denominator for basic earnings per common share - weighted average shares		95,745			95,383
Effect of dilutive securities:
Assumed conversion of dilutive stock-based compensation plans		1,089			1,371
Denominator for diluted earnings per common share - adjusted weighted average
shares and assumed conversion		96,834			96,754
Net income per common share attributable to Wabtec shareholders
Basic	$	2.69		$	2.28
Diluted	$	2.67		$	2.25

(1) Basic weighted-average common shares outstanding	95,745		95,383
Basic weighted-average common shares outstanding and non-vested restricted
stock expected to vest	96,146		95,850
Percentage allocated to common shareholders	99.6	%	99.5	%

Warranties (Tables)

9 Months Ended

Sep. 30, 2014

Disclosure Changes In Product Warranty Reserve [Abstract]

Changes in Product Warranty Reserve

The following table reconciles the changes in the Company’s product warranty reserve as follows:

	Nine Months Ended
	September 30,
In thousands	2014			2013
Balance at December 31, 2013 and 2012, respectively	$	60,593		$	58,212
Warranty expense		22,104			18,677
Acquisitions		3,567			2,244
Warranty claim payments		(14,572	)		(16,740	)
Foreign currency impact/other		(980	)		(109	)
Balance at September 30, 2014 and 2013, respectively	$	70,712		$	62,284

Fair Value Measurement and Fair Value of Financial Instruments (Tables)

9 Months Ended

Sep. 30, 2014

Fair Value Disclosures [Abstract]

Liabilities Carried at Fair Value Measured on Recurring Basis

			Fair Value Measurements at September 30, 2014 Using
	Total Carrying		Quoted Prices in				Significant
	Value at		Active Markets for		Significant Other		Unobservable
	September 30,		Identical Assets		Observable Inputs		Inputs
In thousands	2014		(Level 1)		(Level 2)		(Level 3)
Interest rate swap agreements		2,389		-		2,389		-
Total	$	2,389	$	-	$	2,389	$	-

			Fair Value Measurements at December 31, 2013 Using
	Total Carrying		Quoted Prices in				Significant
	Value at		Active Markets for		Significant Other		Unobservable
	December 31,		Identical Assets		Observable Inputs		Inputs
In thousands	2013		(Level 1)		(Level 2)		(Level 3)
Interest rate swap agreements		3,005		-		3,005		-
Total	$	3,005	$	-	$	3,005	$	-

Estimated Fair Values and Related Carrying Values of Financial Instruments

The estimated fair values and related carrying values of the Company’s financial instruments are as follows:

	September 30, 2014				December 31, 2013
	Carry		Fair		Carry		Fair
In thousands	Value		Value		Value		Value
Interest rate swap agreement	$	2,389	$	2,389	$	3,005	$	3,005
4.375% Senior Notes		250,000		264,633		250,000		253,135

Segment Information (Tables)

9 Months Ended

Sep. 30, 2014

Segment Reporting [Abstract]

Segment Financial Information

Segment financial information for the three months ended September 30, 2014 is as follows:

					Corporate
	Freight		Transit		Activities and
In thousands	Segment		Segment		Elimination			Total
Sales to external customers	$	453,329	$	343,942	$	-		$	797,271
Intersegment sales/(elimination)		9,781		1,822		(11,603	)		-
Total sales	$	463,110	$	345,764	$	(11,603	)	$	797,271
Income (loss) from operations	$	102,182	$	40,734	$	(6,939	)	$	135,977
Interest expense and other, net		-		-		(4,748	)		(4,748	)
Income (loss) from operations before income taxes	$	102,182	$	40,734	$	(11,687	)	$	131,229

Segment financial information for the three months ended September 30, 2013 is as follows:

					Corporate
	Freight		Transit		Activities and
In thousands	Segment		Segment		Elimination			Total
Sales to external customers	$	340,533	$	290,865	$	-		$	631,398
Intersegment sales/(elimination)		5,410		2,642		(8,052	)	$	-
Total sales	$	345,943	$	293,507	$	(8,052	)	$	631,398
Income (loss) from operations	$	77,299	$	36,335	$	(3,763	)	$	109,871
Interest expense and other, net		-		-		(5,487	)		(5,487	)
Income (loss) from operations before income taxes	$	77,299	$	36,335	$	(9,250	)	$	104,384

Segment financial information for the nine months ended September 30, 2014 is as follows:

					Corporate
	Freight		Transit		Activities and
In thousands	Segment		Segment		Elimination			Total
Sales to external customers	$	1,250,337	$	973,251	$	-		$	2,223,588
Intersegment sales/(elimination)		27,074		6,096		(33,170	)		-
Total sales	$	1,277,411	$	979,347	$	(33,170	)	$	2,223,588
Income (loss) from operations	$	294,396	$	112,009	$	(16,259	)	$	390,146
Interest expense and other, net		-		-		(13,497	)		(13,497	)
Income (loss) from operations before income taxes	$	294,396	$	112,009	$	(29,756	)	$	376,649

Segment financial information for the nine months ended September 30, 2013 is as follows:

					Corporate
	Freight		Transit		Activities and
In thousands	Segment		Segment		Elimination			Total
Sales to external customers	$	1,009,069	$	875,841	$	-		$	1,884,910
Intersegment sales/(elimination)		20,384		5,407		(25,791	)	$	-
Total sales	$	1,029,453	$	881,248	$	(25,791	)	$	1,884,910
Income (loss) from operations	$	225,734	$	110,809	$	(10,451	)	$	326,092
Interest expense and other, net		-		-		(12,547	)		(12,547	)
Income (loss) from operations before income taxes	$	225,734	$	110,809	$	(22,998	)	$	313,545

Sales by Product


Sales by product are as follows:

	Three Months Ended
	September 30,
In thousands	2014		2013
Specialty Products & Electronics	$	390,038	$	263,595
Brake Products		170,826		137,189
Remanufacturing, Overhaul & Build		142,620		161,857
Other Transit Products		51,607		50,270
Other		42,180		18,487
Total sales	$	797,271	$	631,398

Sales by product are as follows:

	Nine Months Ended
	September 30,
In thousands	2014		2013
Specialty Products & Electronics	$	980,897	$	764,222
Brake Products		487,095		417,921
Remanufacturing, Overhaul & Build		474,444		489,391
Other Transit Products		155,144		153,698
Other		126,008		59,678
Total sales	$	2,223,588	$	1,884,910

Other Income (Expense), Net (Tables)

9 Months Ended

Sep. 30, 2014

Other Income And Expenses [Abstract]

Components of Other Income (Expense)

The components of other income (expense) are as follows:

	Three Months Ended						Nine Months Ended
	September 30,						September 30,
In thousands	2014			2013			2014			2013
Foreign currency gain (loss)	$	(455	)	$	(1,002	)	$	(554	)	$	(2,933	)
Other miscellaneous income (expense)		301			(656	)		626			1,100
Total other income (expense), net	$	(154	)	$	(1,658	)	$	72		$	(1,833	)

Business - Additional Information (Detail)	9 Months Ended
Business - Additional Information (Detail)	Sep. 30, 2014 Country
Product Information [Line Items]
Number of countries company operates	19
Sales Revenue Outside United States
Product Information [Line Items]
Revenues from customers outside the U.S.	48.00%
Minimum
Product Information [Line Items]
Number of countries where product found	100

Accounting Policies - Additional Information (Detail) $ / shares in Units, $ in Thousands	May 14, 2013 $ / shares shares	Sep. 30, 2014 USD ($) $ / shares shares	Dec. 31, 2013 USD ($) $ / shares shares
Summary Of Significant Accounting Policies [Line Items]
Common stock, shares authorized \| shares	200,000,000	200,000,000	200,000,000
Stock split ratio	2
Percentage of stock dividend	100.00%
Shares issued during stock split \| shares	66,200,000
Common stock, par value \| $ / shares	$ 0.01	$ 0.01	$ 0.01
Unbilled accounts receivable		$ 240,178	$ 205,045
Customer deposits		74,901	66,573
Provisions for loss contracts		7,400	14,000
Deferred pre-production costs		19,200	19,200
Interest rate swap agreement, Current Liability		2,389	3,005
Forward Starting Interest Rate Swap Agreement
Summary Of Significant Accounting Policies [Line Items]
Interest rate swap agreements, notional amount		150,000
Interest rate swap agreement, Current Liability		2,389	$ 3,005
Interest rate swap, accumulated other comprehensive loss		$ (1,400)

Changes in Accumulated Other Comprehensive Loss by Component, Net of Tax (Detail) $ in Thousands	9 Months Ended
	Sep. 30, 2014 USD ($)
Accumulated Other Comprehensive Income Loss [Line Items]
Balance at December 31, 2013	$ (34,856)
Other comprehensive income (loss) before reclassifications	(52,596)
Amounts reclassified from accumulated other comprehensive income	3,167
Net current period other comprehensive income (loss)	(49,429)
Balance at September 30, 2014	(84,285)
Foreign Currency Translation
Accumulated Other Comprehensive Income Loss [Line Items]
Balance at December 31, 2013	17,326
Other comprehensive income (loss) before reclassifications	(52,876)
Net current period other comprehensive income (loss)	(52,876)
Balance at September 30, 2014	(35,550)
Derivative Contracts
Accumulated Other Comprehensive Income Loss [Line Items]
Balance at December 31, 2013	(2,010)
Other comprehensive income (loss) before reclassifications	(876)
Amounts reclassified from accumulated other comprehensive income	1,167
Net current period other comprehensive income (loss)	291
Balance at September 30, 2014	(1,719)
Pension And Post Retirement Benefit Plans
Accumulated Other Comprehensive Income Loss [Line Items]
Balance at December 31, 2013	(50,172)
Other comprehensive income (loss) before reclassifications	1,156
Amounts reclassified from accumulated other comprehensive income	2,000
Net current period other comprehensive income (loss)	3,156
Balance at September 30, 2014	$ (47,016)

- Definition

Accumulated change in equity from transactions and other events and circumstances from non-owner sources, net of tax effect, at period end. Excludes Net Income (Loss), and accumulated changes in equity from transactions resulting from investments by owners and distributions to owners. Includes foreign currency translation items, certain pension adjustments, unrealized gains and losses on certain investments in debt and equity securities, other than temporary impairment (OTTI) losses related to factors other than credit losses on available-for-sale and held-to-maturity debt securities that an entity does not intend to sell and it is not more likely than not that the entity will be required to sell before recovery of the amortized cost basis, as well as changes in the fair value of derivatives related to the effective portion of a designated cash flow hedge.

+ References + Details

Reclassifications Out of Accumulated Other Comprehensive Loss (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013
Reclassification Adjustment Out Of Accumulated Other Comprehensive Income On Derivatives [Line Items]
Cost of sales	$ 549,813	$ 443,265	$ 1,541,903	$ 1,321,008
Income from Operations	131,229	104,384	376,649	313,545
Interest expense, net	(4,594)	(3,829)	(13,569)	(10,714)
Income tax expense	(41,074)	(30,441)	(117,655)	(95,351)
Net income	90,155	$ 73,943	258,994	$ 218,194
Reclassification out of Accumulated Other Comprehensive Income \| Accumulated Defined Benefit Plan Adjustment Net Prior Service Cost Credit
Reclassification Adjustment Out Of Accumulated Other Comprehensive Income On Derivatives [Line Items]
Cost of sales	(613)		(1,843)
Reclassification out of Accumulated Other Comprehensive Income \| Accumulated Defined Benefit Plan Adjustment Amortization Of Net Loss
Reclassification Adjustment Out Of Accumulated Other Comprehensive Income On Derivatives [Line Items]
Cost of sales	1,368		4,751
Reclassification out of Accumulated Other Comprehensive Income \| Pension And Post Retirement Benefit Plans
Reclassification Adjustment Out Of Accumulated Other Comprehensive Income On Derivatives [Line Items]
Income from Operations	755		2,908
Income tax expense	(236)		(908)
Net income	519		2,000
Reclassification out of Accumulated Other Comprehensive Income \| Derivative Contracts
Reclassification Adjustment Out Of Accumulated Other Comprehensive Income On Derivatives [Line Items]
Interest expense, net	492		1,697
Income tax expense	(154)		(530)
Net income	$ 338		$ 1,167

Acquisitions - Additional Information (Detail) - USD ($) $ in Thousands							9 Months Ended
	Sep. 03, 2014	Aug. 21, 2014	Jun. 06, 2014	Sep. 24, 2013	Jul. 30, 2013	Jan. 31, 2013	Sep. 30, 2014	Sep. 30, 2013	Dec. 31, 2013
Business Acquisition [Line Items]
Business acquisition, net purchase price, net of cash							$ 299,661	$ 222,058
Goodwill							864,460		$ 786,433
Business acquisition, escrow Deposit							41,600
Acquired intangible assets							182,600
Trade Names
Business Acquisition [Line Items]
Acquired intangible assets							45,900
Customer Relationships
Business Acquisition [Line Items]
Acquired intangible assets							$ 119,500
Average useful life, years							20 years
Patents
Business Acquisition [Line Items]
Acquired intangible assets							$ 5,200
Average useful life, years							11 years
Favorable Leasehold Interest
Business Acquisition [Line Items]
Acquired intangible assets							$ 800
Average useful life, years							5 years
Order or Production Backlog
Business Acquisition [Line Items]
Acquired intangible assets							$ 7,300
Noncompete Agreements
Business Acquisition [Line Items]
Acquired intangible assets							$ 3,900
Average useful life, years							5 years
Longwood Industries Inc
Business Acquisition [Line Items]
Business acquisition, net purchase price, net of cash				$ 83,900
Goodwill				28,272
Acquired intangible assets				$ 39,440
C2CE
Business Acquisition [Line Items]
Business acquisition, net purchase price, net of cash	$ 25,100
Goodwill	14,981
Acquired intangible assets	$ 3,804
Turbonetics
Business Acquisition [Line Items]
Business acquisition, net purchase price, net of cash					$ 23,200
Goodwill					11,309
Acquired intangible assets					$ 11,140
Napier
Business Acquisition [Line Items]
Business acquisition, net purchase price, net of cash						$ 112,300
Goodwill						67,045
Acquired intangible assets						$ 40,583
Dia-Frag
Business Acquisition [Line Items]
Business acquisition, net purchase price, net of cash		$ 70,600
Goodwill		32,556
Acquired intangible assets		$ 36,211
Fandstan Electric Group Ltd
Business Acquisition [Line Items]
Business acquisition, net purchase price, net of cash			$ 199,400
Goodwill			49,748
Acquired intangible assets			$ 51,571

Summary of Preliminary Estimated Fair Values of Assets Acquired and Liabilities Assumed (Detail) - USD ($) $ in Thousands	Sep. 30, 2014	Sep. 03, 2014	Aug. 21, 2014	Jun. 06, 2014	Dec. 31, 2013	Sep. 24, 2013	Jul. 30, 2013	Jan. 31, 2013
Business Acquisition [Line Items]
Goodwill	$ 864,460				$ 786,433
Other intangible assets	$ 182,600
C2CE
Business Acquisition [Line Items]
Current assets		$ 9,794
Property, plant & equipment		1,860
Goodwill		14,981
Other intangible assets		3,804
Total assets acquired		30,439
Total liabilities assumed		(5,323)
Net assets acquired		$ 25,116
Dia-Frag
Business Acquisition [Line Items]
Current assets			$ 12,502
Property, plant & equipment			4,497
Goodwill			32,556
Other intangible assets			36,211
Other assets			65
Total assets acquired			85,831
Total liabilities assumed			(15,190)
Net assets acquired			$ 70,641
Fandstan
Business Acquisition [Line Items]
Current assets				$ 125,025
Property, plant & equipment				61,465
Goodwill				49,748
Other intangible assets				51,571
Other assets				309
Total assets acquired				288,118
Total liabilities assumed				(88,714)
Net assets acquired				$ 199,404
Longwood
Business Acquisition [Line Items]
Current assets						$ 17,444
Property, plant & equipment						19,363
Goodwill						28,272
Other intangible assets						39,440
Other assets						7
Total assets acquired						104,526
Total liabilities assumed						(20,663)
Net assets acquired						$ 83,863
Turbonetics
Business Acquisition [Line Items]
Current assets							$ 5,532
Property, plant & equipment							992
Goodwill							11,309
Other intangible assets							11,140
Total assets acquired							28,973
Total liabilities assumed							(5,790)
Net assets acquired							$ 23,183
Napier
Business Acquisition [Line Items]
Current assets								$ 13,441
Property, plant & equipment								8,837
Goodwill								67,045
Other intangible assets								40,583
Total assets acquired								129,906
Total liabilities assumed								(17,565)
Net assets acquired								$ 112,341

Pro Forma Financial Information (Detail) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013
Business Combinations [Abstract]
Net sales	$ 808,327	$ 727,010	$ 2,357,388	$ 2,179,068
Gross profit	250,542	212,649	724,706	645,888
Net income attributable to Wabtec shareholders	$ 91,519	$ 79,897	$ 269,469	$ 239,151
Diluted earnings per share, As reported	$ 0.93	$ 0.76	$ 2.67	$ 2.25
Diluted earnings per share, Pro forma	$ 0.94	$ 0.82	$ 2.78	$ 2.46

Components of Inventory, Net of Reserves (Detail) - USD ($) $ in Thousands	Sep. 30, 2014	Dec. 31, 2013
Inventory Disclosure [Abstract]
Raw materials	$ 192,042	$ 165,906
Work-in-progress	155,574	137,449
Finished goods	141,437	99,874
Total inventories	$ 489,053	$ 403,229

Change in the Carrying Amount of Goodwill by Segment (Detail) $ in Thousands	9 Months Ended
	Sep. 30, 2014 USD ($)
Goodwill [Line Items]
Balance at December 31, 2013	$ 786,433
Adjustment to preliminary purchase allocation	(4,042)
Acquisitions	100,544
Foreign currency impact	(18,475)
Balance at September 30, 2014	864,460
Freight Segment
Goodwill [Line Items]
Balance at December 31, 2013	509,664
Adjustment to preliminary purchase allocation	(2,488)
Acquisitions	18,168
Foreign currency impact	(3,236)
Balance at September 30, 2014	522,108
Transit Segment
Goodwill [Line Items]
Balance at December 31, 2013	276,769
Adjustment to preliminary purchase allocation	(1,554)
Acquisitions	82,376
Foreign currency impact	(15,239)
Balance at September 30, 2014	$ 342,352

Intangibles - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013	Dec. 31, 2013
Intangible Assets Disclosure [Line Items]
Trademarks	$ 173,900		$ 173,900		$ 156,800
Intangible assets, amortization expense	$ 6,731	$ 3,939	$ 16,559	$ 12,699
Patents
Intangible Assets Disclosure [Line Items]
Intangible assets, weighted average useful life (years)			8 years
Customer Relationships
Intangible Assets Disclosure [Line Items]
Intangible assets, weighted average useful life (years)			17 years
Intellectual Property
Intangible Assets Disclosure [Line Items]
Intangible assets, weighted average useful life (years)			15 years

Intangible Assets Other Than Goodwill and Trademarks (Detail) - USD ($) $ in Thousands	Sep. 30, 2014	Dec. 31, 2013
Finite Lived Intangible Assets [Line Items]
Intangible assets, net of accumulated amortization	$ 275,641	$ 228,885
Patents And Other
Finite Lived Intangible Assets [Line Items]
Intangible assets, net of accumulated amortization	19,573	15,561
Customer Relationships
Finite Lived Intangible Assets [Line Items]
Intangible assets, net of accumulated amortization	$ 256,068	$ 213,324

Intangible Assets Other Than Goodwill and Trademarks (Parenthetical) (Detail) - USD ($) $ in Thousands	Sep. 30, 2014	Dec. 31, 2013
Patents And Other
Finite Lived Intangible Assets [Line Items]
Intangible assets, accumulated amortization	$ 39,867	$ 37,824
Customer Relationships
Finite Lived Intangible Assets [Line Items]
Intangible assets, accumulated amortization	$ 53,848	$ 44,910

Amortization Expense (Detail) $ in Thousands	Sep. 30, 2014 USD ($)
Goodwill And Intangible Assets Disclosure [Abstract]
Remainder of 2014	$ 6,353
2015	22,324
2016	19,799
2017	18,903
2018	$ 18,267

Long Term Debt (Detail) - USD ($) $ in Thousands	Sep. 30, 2014	Dec. 31, 2013
Debt Instrument [Line Items]
Capital Leases	$ 2,042	$ 709
Total	522,042	450,709
Less - current portion	955	421
Long-term portion	521,087	450,288
Revolving Credit Facility
Debt Instrument [Line Items]
Long-term Debt	270,000	200,000
4.375% Senior Notes, due 2023
Debt Instrument [Line Items]
Long-term Debt	$ 250,000	$ 250,000

Long Term Debt (Parenthetical) (Detail) - 4.375% Senior Notes, due 2023	9 Months Ended
	Sep. 30, 2014
Debt Instrument [Line Items]
Maturity date of debt instrument, year	2023
Debt Instrument, Interest Rate, Stated Percentage	4.375%

Long Term Debt - Additional Information (Detail) - USD ($) $ in Millions		9 Months Ended
	Jun. 05, 2014	Sep. 30, 2014	Sep. 03, 2014
Debt Instrument [Line Items]
Long-term debt, percentage bearing variable interest rate		1.16%
Forward Starting Interest Rate Swap Agreement
Debt Instrument [Line Items]
Debt instrument, effective issuance date		Jul. 31, 2013
Maturity date of debt instrument		Nov. 07, 2016
Interest rate swap agreements, notional amount		$ 150.0
Interest rate on notional value			1.415%
Forward Starting Interest Rate Swap Agreement
Debt Instrument [Line Items]
Debt instrument, effective issuance date	Nov. 07, 2016
Maturity date of debt instrument	Dec. 19, 2018
Interest rate swap agreements, notional amount	$ 150.0
Interest rate on notional value	2.56%
2013 Refinancing Credit Agreement
Debt Instrument [Line Items]
Deferred financing cost		$ 1.0
Debt instrument, effective issuance date		Dec. 19, 2013
Maturity date of debt instrument		Dec. 19, 2018
Debt instrument, interest rate, effective percentage		0.50%
Debt instrument basis points spread on variable rate		1.00%
Minimum interest expense coverage ratio		3.0
Maximum debt to cash flow ratio		3.25
2013 Refinancing Credit Agreement \| Base Rate
Debt Instrument [Line Items]
Debt instrument basis points spread on variable rate		0.00%
2013 Refinancing Credit Agreement \| Base Rate \| Minimum
Debt Instrument [Line Items]
Debt instrument basis points spread on variable rate		0.00%
2013 Refinancing Credit Agreement \| Base Rate \| Maximum
Debt Instrument [Line Items]
Debt instrument basis points spread on variable rate		0.75%
2013 Refinancing Credit Agreement \| Alternative Rate
Debt Instrument [Line Items]
Debt instrument basis points spread on variable rate		0.75%
2013 Refinancing Credit Agreement \| Alternative Rate \| Minimum
Debt Instrument [Line Items]
Debt instrument basis points spread on variable rate		0.75%
2013 Refinancing Credit Agreement \| Alternative Rate \| Maximum
Debt Instrument [Line Items]
Debt instrument basis points spread on variable rate		1.75%
2011 Refinancing Credit Agreement
Debt Instrument [Line Items]
Debt instrument, effective issuance date		Nov. 07, 2011
Maturity date of debt instrument		Nov. 07, 2016
Debt instrument, interest rate, effective percentage		0.50%
Debt instrument basis points spread on variable rate		1.00%
2011 Refinancing Credit Agreement \| Base Rate
Debt Instrument [Line Items]
Debt instrument basis points spread on variable rate		0.00%
2011 Refinancing Credit Agreement \| Base Rate \| Minimum
Debt Instrument [Line Items]
Debt instrument basis points spread on variable rate		0.00%
2011 Refinancing Credit Agreement \| Base Rate \| Maximum
Debt Instrument [Line Items]
Debt instrument basis points spread on variable rate		0.75%
2011 Refinancing Credit Agreement \| Alternative Rate
Debt Instrument [Line Items]
Debt instrument basis points spread on variable rate		1.00%
2011 Refinancing Credit Agreement \| Alternative Rate \| Minimum
Debt Instrument [Line Items]
Debt instrument basis points spread on variable rate		0.75%
2011 Refinancing Credit Agreement \| Alternative Rate \| Maximum
Debt Instrument [Line Items]
Debt instrument basis points spread on variable rate		1.75%
4.375% Senior Notes, due 2023
Debt Instrument [Line Items]
Deferred financing cost		$ 2.6
Debt instrument, effective issuance date		Aug. 31, 2013
Senior Notes Coupon Rate		99.879%
Maturity date of debt instrument, year		2023
Senior Notes issued		$ 250.0
Debt Instrument, Interest Rate, Stated Percentage		4.375%
6.875% Senior Notes, Due 2013
Debt Instrument [Line Items]
Debt instrument, effective issuance date		Aug. 31, 2003
Maturity date of debt instrument		Jul. 31, 2013
Senior Notes issued		$ 150.0
Debt Instrument, Interest Rate, Stated Percentage		6.875%
Revolving Credit Facility \| 2013 Refinancing Credit Agreement
Debt Instrument [Line Items]
Revolving credit facility, amount		$ 800.0
Credit facility loan term, years		5 years
Line of credit facility, amount currently available		$ 513.0
Revolving Credit Facility \| 2011 Refinancing Credit Agreement
Debt Instrument [Line Items]
Revolving credit facility, amount		$ 600.0
Credit facility loan term, years		5 years
Deferred financing cost		$ 1.9
Letter of Credit
Debt Instrument [Line Items]
Line of credit facility, current borrowing capacity		$ 17.0

Post Retirement Benefit Plans (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013
U.S. Defined Benefit Pension Plans
Defined Benefit Plan Disclosure [Line Items]
Service cost	$ 54	$ 111	$ 250	$ 323
Interest cost	488	490	1,552	1,472
Expected return on plan assets	(617)	(752)	(1,857)	(2,232)
Net amortization/deferrals	355	753	1,665	2,431
Net periodic benefit cost	280	602	1,610	1,994
International Defined Benefit Pension Plans
Defined Benefit Plan Disclosure [Line Items]
Service cost	659	505	1,511	1,524
Interest cost	2,271	1,651	5,936	4,984
Expected return on plan assets	(2,655)	(2,087)	(7,116)	(6,304)
Net amortization/deferrals	766	849	2,292	2,570
Settlement loss recognized		166		166
Net periodic benefit cost	1,041	1,084	2,623	2,940
U.S. Post Retirement
Defined Benefit Plan Disclosure [Line Items]
Service cost	7	22	27	36
Interest cost	289	192	881	834
Net amortization/deferrals	(350)	(367)	(1,003)	(791)
Net periodic benefit cost	(54)	(153)	(95)	79
International Post Retirement
Defined Benefit Plan Disclosure [Line Items]
Service cost	10	12	28	36
Interest cost	42	42	126	129
Net amortization/deferrals	(16)	(75)	(46)	(228)
Net periodic benefit cost	$ 36	$ (21)	$ 108	$ (63)

Employee Benefit Plans - Additional Information (Detail) $ in Millions	9 Months Ended
	Sep. 30, 2014 USD ($)
International Defined Benefit Pension Plans
Defined Benefit Plans And Other Postretirement Benefit Plans Table Text Block [Line Items]
Contribution to plan	$ 5.2
U.S. Defined Benefit Pension Plans
Defined Benefit Plans And Other Postretirement Benefit Plans Table Text Block [Line Items]
Contribution to plan	$ 0.0

Stock Based Compensation - Additional Information (Detail) - USD ($) $ in Millions	9 Months Ended		36 Months Ended
	Sep. 30, 2014	Sep. 30, 2013	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Unamortized compensation expense expected to be vested	$ 27.7
Recognized weighted average period, years	1 year 2 months 12 days
Stock-based compensation expense	$ 19.1	$ 17.6
Employee Stock Option
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Stock-based compensation expense	1.8
Restricted Stock
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Stock-based compensation expense	4.5
Restricted Stock Units (RSUs)
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Stock-based compensation expense	1.8
Performance Shares
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Stock-based compensation expense	$ 10.3
Performance goal period to vest incentive stock awards	3 years
Performance Shares \| Scenario Forecast
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Percentage of Incentive Stock Awards Expected to be Vested and Awarded of Stocks Granted			100.00%	104.00%	180.00%
Performance Shares \| Minimum
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Percentage of Incentive Stock Awards Expected to be Vested and Awarded of Stocks Granted	0.00%
Performance Shares \| Maximum
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Percentage of Incentive Stock Awards Expected to be Vested and Awarded of Stocks Granted	200.00%
Plan 2011
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Plan term, years	10 years
Shares authorized for grants	3,800,000
Plan 2011 \| Employee Stock Option
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Plan term, years	10 years
Vesting period, maximum years	4 years
Directors Plan
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Share based compensation arrangement plan expiration	Oct. 31, 2016
Stock-based compensation expense	$ 0.7
Directors Plan \| Restricted Stock
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Vesting period, maximum years	1 year
Plan 2000 \| Employee Stock Option
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Plan term, years	10 years
Vesting period, maximum years	4 years

Stock Option Activity (Detail) - USD ($) $ / shares in Units, $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2014	Dec. 31, 2013
Options Outstanding
Outstanding, beginning of period	1,232,862
Granted	81,552
Exercised	(144,210)
Canceled	(3,070)
Outstanding, end of period	1,167,134	1,232,862
Exercisable at September 30, 2014	815,518
Weighted-Average Exercise Price per Share
Outstanding, beginning of period	$ 24.36
Granted	73.20
Exercised	21.11
Canceled	52.73
Outstanding, end of period	28.10	$ 24.36
Exercisable at September 30, 2014	$ 20.69
Weighted-Average Remaining Contractual Life
Weighted- Average Remaining Contractual Life, outstanding	5 years 8 months 12 days	6 years 1 month 6 days
Exercisable at September 30, 2014	4 years 9 months 18 days
Aggregate Intrinsic Value
Outstanding, beginning of period	$ 61,530
Granted	661
Exercised	(8,682)
Canceled	(88)
Outstanding, end of period	62,101	$ 61,530
Exercisable at September 30, 2014	$ 49,435

Fair Value of Each Option Grant Weighted Average Assumptions (Detail)	9 Months Ended
	Sep. 30, 2014	Sep. 30, 2013
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Dividend yield	0.11%	0.21%
Risk-free interest rate	2.19%	1.38%
Stock price volatility	33.00%	43.80%
Expected life (years)	5 years	5 years

Restricted Stock Activity and Incentive Stock Awards Activity (Detail)	9 Months Ended
	Sep. 30, 2014 $ / shares shares
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Outstanding, beginning of period \| $ / shares	$ 35.27
Granted \| $ / shares	61.72
Vested \| $ / shares	29.83
Adjustment for incentive stock awards expected to vest \| $ / shares	39.37
Canceled \| $ / shares	45.92
Outstanding, end of period \| $ / shares	$ 44.74
Restricted Stock and Units
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Outstanding, beginning of period	510,128
Granted	149,136
Vested	(218,502)
Canceled	(3,970)
Outstanding, end of period	436,792
Performance Shares
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Outstanding, beginning of period	1,043,594
Granted	140,240
Vested	(458,536)
Adjustment for incentive stock awards expected to vest	52,292
Canceled	(8,370)
Outstanding, end of period	769,220

Income Taxes - Additional Information (Detail) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013	Dec. 31, 2013
Income Tax Disclosure [Abstract]
Effective income tax rate	31.30%	29.20%	31.20%	30.40%
Gross liability for uncertain tax positions	$ 10.4		$ 10.4		$ 10.5
Unrecognized tax benefits if recognized that would affect effective tax rate	4.7		4.7		4.7
Accrued interest	1.9		1.9		1.5
Accrued penalties	1.2		1.2		$ 0.9
Unrecognized tax benefits subject to change with in the next 12 months	$ 0.1		$ 0.1

Computation of Basic and Diluted Earnings Per Share (Detail) - USD ($)
$ / shares in Units, shares in Thousands, $ in Thousands

3 Months Ended

9 Months Ended

Sep. 30, 2014

Sep. 30, 2013

Sep. 30, 2014

Sep. 30, 2013

Earnings Per Share [Abstract]

Net income attributable to Wabtec shareholders

$ 90,155

$ 73,943

$ 258,994

$ 218,194

Less: dividends declared - common shares and non-vested restricted stock

(5,780)

(4,003)

(13,471)

(8,799)

Undistributed earnings

$ 84,375

$ 69,940

$ 245,523

$ 209,395

Percentage allocated to common shareholders

99.60%

^[1]

99.60%

^[1]

99.60%

^[2]

99.50%

^[2]

Undistributed earnings allocated to common shareholders

$ 84,038

$ 69,660

$ 244,541

$ 208,348

Add: dividends declared - common shares

5,759

3,986

13,415

8,757

Numerator for basic and diluted earnings per common share

$ 89,797

$ 73,646

$ 257,956

$ 217,105

Denominator for basic earnings per common share - weighted average shares

95,935

95,848

95,745

95,383

Assumed conversion of dilutive stock-based compensation plans

1,069

1,326

1,089

1,371

Denominator for diluted earnings per common share - adjusted weighted average shares and assumed conversion

97,004

97,174

96,834

96,754

Basic

$ 0.94

$ 0.77

$ 2.69

$ 2.28

Diluted earnings per share, As reported

$ 0.93

$ 0.76

$ 2.67

$ 2.25

[1]	(1) Basic weighted-average common shares outstanding 95,935 95,848 Basic weighted-average common shares outstanding and non-vested restricted stock expected to vest 96,285 96,273 Percentage allocated to common shareholders 99.6% 99.6%
[2]	(1) Basic weighted-average common shares outstanding 95,745 95,383 Basic weighted-average common shares outstanding and non-vested restricted stock expected to vest 96,146 95,850 Percentage allocated to common shareholders 99.6% 99.5%

Computation of Basic and Diluted Earnings Per Share (Parenthetical) (Detail) - shares
shares in Thousands

3 Months Ended

9 Months Ended

Sep. 30, 2014

Sep. 30, 2013

Sep. 30, 2014

Sep. 30, 2013

Earnings Per Share [Abstract]

Denominator for basic earnings per common share - weighted average shares

95,935

95,848

95,745

95,383

Basic weighted-average common shares outstanding and non-vested restricted stock expected to vest

96,285

96,273

96,146

95,850

Percentage allocated to common shareholders

99.60%

^[1]

99.60%

^[1]

99.60%

^[2]

99.50%

^[2]

[1]	(1) Basic weighted-average common shares outstanding 95,935 95,848 Basic weighted-average common shares outstanding and non-vested restricted stock expected to vest 96,285 96,273 Percentage allocated to common shareholders 99.6% 99.6%
[2]	(1) Basic weighted-average common shares outstanding 95,745 95,383 Basic weighted-average common shares outstanding and non-vested restricted stock expected to vest 96,146 95,850 Percentage allocated to common shareholders 99.6% 99.5%

Changes in Product Warranty Reserve (Detail) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2014	Sep. 30, 2013
Disclosure Changes In Product Warranty Reserve [Abstract]
Balance at beginning of period	$ 60,593	$ 58,212
Warranty expense	22,104	18,677
Acquisitions	3,567	2,244
Warranty claim payments	(14,572)	(16,740)
Foreign currency impact/other	(980)	(109)
Balance at end of period	$ 70,712	$ 62,284

Liabilities Carried at Fair Value Measured on Recurring Basis (Detail) - USD ($) $ in Thousands	Sep. 30, 2014	Dec. 31, 2013
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Carrying Value	$ 2,389	$ 3,005
Fair Value, Measurements, Recurring \| Fair Value, Inputs, Level 2
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Liabilities at fair value	2,389	3,005
Forward Starting Interest Rate Swap Agreement
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Carrying Value	2,389	3,005
Liabilities at fair value	2,389	3,005
Forward Starting Interest Rate Swap Agreement \| Fair Value, Measurements, Recurring \| Fair Value, Inputs, Level 2
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Liabilities at fair value	$ 2,389	$ 3,005

- Definition

Fair value, after the effects of master netting arrangements, of a financial liability or contract with one or more underlyings, notional amount or payment provision or both, and the contract can be net settled by means outside the contract or delivery of an asset, expected to be settled within one year or normal operating cycle, if longer. Includes assets not subject to a master netting arrangement and not elected to be offset.

+ References + Details

Estimated Fair Values and Related Carrying Values of Financial Instruments (Detail) - USD ($) $ in Thousands	Sep. 30, 2014	Dec. 31, 2013
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Carrying Value	$ 2,389	$ 3,005
Forward Starting Interest Rate Swap Agreement
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Carrying Value	2,389	3,005
Fair Value	2,389	3,005
4.375% Senior Notes, due 2023
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Note, Carrying Value	250,000	250,000
Fair Value	$ 264,633	$ 253,135

- Definition

+ References + Details

Estimated Fair Values and Related Carrying Values of Financial Instruments (Parenthetical) (Detail)	Sep. 30, 2014
4.375% Senior Notes, due 2023
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Debt Instrument, Interest Rate, Stated Percentage	4.375%

Segment Information - Additional Information (Detail)	9 Months Ended
Segment Information - Additional Information (Detail)	Sep. 30, 2014 Segment
Segment Reporting [Abstract]
Number of reportable segment	2

Segment Financial Information (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013
Segment Reporting Information [Line Items]
Total sales	$ 797,271	$ 631,398	$ 2,223,588	$ 1,884,910
Income (loss) from operations	135,977	109,871	390,146	326,092
Interest expense and other, net	(4,748)	(5,487)	(13,497)	(12,547)
Income from operations before income taxes	131,229	104,384	376,649	313,545
External Customers
Segment Reporting Information [Line Items]
Total sales	797,271	631,398	2,223,588	1,884,910
Intersegment Sales/(Elimination)
Segment Reporting Information [Line Items]
Total sales	0	0	0	0
Operating Segments \| Freight Segment
Segment Reporting Information [Line Items]
Total sales	463,110	345,943	1,277,411	1,029,453
Income (loss) from operations	102,182	77,299	294,396	225,734
Interest expense and other, net	0	0	0	0
Income from operations before income taxes	102,182	77,299	294,396	225,734
Operating Segments \| Transit Segment
Segment Reporting Information [Line Items]
Total sales	345,764	293,507	979,347	881,248
Income (loss) from operations	40,734	36,335	112,009	110,809
Interest expense and other, net	0	0	0	0
Income from operations before income taxes	40,734	36,335	112,009	110,809
Operating Segments \| External Customers \| Freight Segment
Segment Reporting Information [Line Items]
Total sales	453,329	340,533	1,250,337	1,009,069
Operating Segments \| External Customers \| Transit Segment
Segment Reporting Information [Line Items]
Total sales	343,942	290,865	973,251	875,841
Operating Segments \| Intersegment Sales/(Elimination) \| Freight Segment
Segment Reporting Information [Line Items]
Total sales	9,781	5,410	27,074	20,384
Operating Segments \| Intersegment Sales/(Elimination) \| Transit Segment
Segment Reporting Information [Line Items]
Total sales	1,822	2,642	6,096	5,407
Corporate Activities and Elimination
Segment Reporting Information [Line Items]
Total sales	(11,603)	(8,052)	(33,170)	(25,791)
Income (loss) from operations	(6,939)	(3,763)	(16,259)	(10,451)
Interest expense and other, net	(4,748)	(5,487)	(13,497)	(12,547)
Income from operations before income taxes	(11,687)	(9,250)	(29,756)	(22,998)
Corporate Activities and Elimination \| External Customers
Segment Reporting Information [Line Items]
Total sales	0	0	0	0
Corporate Activities and Elimination \| Intersegment Sales/(Elimination)
Segment Reporting Information [Line Items]
Total sales	$ (11,603)	$ (8,052)	$ (33,170)	$ (25,791)

Sales by Product (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
Sales by Product (Detail) - USD ($) $ in Thousands	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013
Segment Reporting Information [Line Items]
Total sales	$ 797,271	$ 631,398	$ 2,223,588	$ 1,884,910
Specialty Products & Electronics
Segment Reporting Information [Line Items]
Total sales	390,038	263,595	980,897	764,222
Brake Products
Segment Reporting Information [Line Items]
Total sales	170,826	137,189	487,095	417,921
Remanufacturing, Overhaul & Build
Segment Reporting Information [Line Items]
Total sales	142,620	161,857	474,444	489,391
Other Transit Products
Segment Reporting Information [Line Items]
Total sales	51,607	50,270	155,144	153,698
Other
Segment Reporting Information [Line Items]
Total sales	$ 42,180	$ 18,487	$ 126,008	$ 59,678

Components of Other Income Expense (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013
Other Income And Expenses [Abstract]
Foreign currency gain (loss)	$ (455)	$ (1,002)	$ (554)	$ (2,933)
Other miscellaneous income (expense)	301	(656)	626	1,100
Total other income (expense), net	$ (154)	$ (1,658)	$ 72	$ (1,833)