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Document and Entity Information - shares	3 Months Ended
Document and Entity Information - shares	Mar. 31, 2019	Apr. 30, 2019
Document And Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Mar. 31, 2019
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	Q1
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 Small Business	false
Entity Emerging Growth Company	false
Entity Common Stock, Shares Outstanding		162,817,600

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Mar. 31, 2019	Dec. 31, 2018
Current Assets
Cash and cash equivalents	$ 512,870	$ 580,908
Restricted cash	0	1,761,446
Accounts receivable	1,271,198	801,193
Unbilled accounts receivable	455,626	345,585
Inventories	1,947,220	844,886
Other current assets	194,223	115,649
Total current assets	4,381,137	4,449,667
Property, plant and equipment	2,133,778	1,036,550
Accumulated depreciation	(498,812)	(472,813)
Property, plant and equipment, net	1,634,966	563,737
Other Assets
Goodwill	8,142,473	2,396,544
Other intangibles, net	4,364,021	1,129,880
Other noncurrent assets	555,308	109,406
Total other assets	13,061,802	3,635,830
Total Assets	19,077,905	8,649,234
Current Liabilities
Accounts payable	1,187,261	589,449
Customer deposits	573,244	373,538
Accrued compensation	273,449	173,183
Accrued warranty	217,752	135,636
Current portion of long-term debt	321,308	64,099
Other accrued liabilities	681,421	310,785
Total current liabilities	3,254,435	1,646,690
Long-term debt	4,641,286	3,792,774
Accrued postretirement and pension benefits	96,533	95,446
Deferred income taxes	176,116	198,269
Accrued warranty	31,563	18,066
Other long-term liabilities	1,097,526	28,914
Total Liabilities	9,297,459	5,780,159
Commitments and contingencies (Note 16)
Equity
Convertible preferred stock, $0.01 par value; 1,000,000 shares authorized, 10,000 and no shares issued and outstanding at March 31, 2019 and December 31, 2018, respectively	0	0
Common stock, $0.01 par value; 500,000,000 shares authorized: 198,131,716 and 132,349,534 shares issued and 162,817,600 and 96,614,966 outstanding at March 31, 2019 and December 31, 2018, respectively	1,981	1,323
Additional paid-in capital	7,796,270	914,568
Treasury stock, at cost, 35,314,116 and 35,734,588 shares, at March 31, 2019 and December 31, 2018, respectively	(807,214)	(816,145)
Retained earnings	3,005,809	3,021,968
Accumulated other comprehensive income (loss)	(309,000)	(256,583)
Total Westinghouse Air Brake Technologies Corporation shareholders' equity	9,687,846	2,865,131
Noncontrolling interest	92,600	3,944
Total Equity	9,780,446	2,869,075
Total Liabilities and Equity	$ 19,077,905	$ 8,649,234

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Mar. 31, 2019	Dec. 31, 2018
Statement of Financial Position [Abstract]
Preferred stock, par value (in dollars per share)	$ 0.01	$ 0
Preferred stock, shares authorized (in shares)	1,000,000	1,000,000
Preferred stock, shares issued (in shares)	10,000	0
Preferred stock, outstanding (in shares)	0	0
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	500,000,000	500,000,000
Common stock, shares issued (in shares)	198,131,716
Common stock, shares outstanding (in shares)	162,817,600	96,614,946
Treasury stock, shares (in shares)	35,314,116	35,734,588

CONDENSED CONSOLIDATED STATEMENTS OF INCOME - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Net sales:
Total net sales	$ 1,593,617	$ 1,056,177
Cost of sales:
Total cost of sales	(1,204,600)	(745,296)
Gross profit	389,017	310,881
Operating expenses:
Selling, general and administrative expenses	(259,723)	(147,201)
Engineering expenses	(34,545)	(22,049)
Amortization expense	(27,442)	(10,352)
Total operating expenses	(321,710)	(179,602)
Income from operations	67,307	131,279
Other income and expenses:
Interest expense, net	(44,569)	(20,284)
Other (expense) income, net	(8,228)	2,586
Income from operations before income taxes	14,510	113,581
Income tax expense	(18,523)	(26,124)
Net (loss) income	(4,013)	87,457
Less: Net (gain) loss attributable to noncontrolling interest	(459)	909
Net (loss) income attributable to Wabtec shareholders	$ (4,472)	$ 88,366
Basic
Net income attributable to Wabtec shareholders (in dollars per share)	$ (0.04)	$ 0.92
Diluted
Net income attributable to Wabtec shareholders (in dollars per share)	$ (0.04)	$ 0.92
Weighted average shares outstanding
Basic (in shares)	121,226	95,810
Diluted (in shares)	121,226	96,371
Goods
Net sales:
Total net sales	$ 1,434,509	$ 1,010,677
Cost of sales:
Total cost of sales	(1,073,571)	(709,278)
Services
Net sales:
Total net sales	159,108	45,500
Cost of sales:
Total cost of sales	$ (131,029)	$ (36,018)

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Statement of Comprehensive Income [Abstract]
Net (loss) income attributable to Wabtec shareholders	$ (4,472)	$ 88,366
Foreign currency translation (loss) gain	(46,553)	77,967
Unrealized (loss) gain on derivative contracts	(4,093)	2,066
Unrealized loss on pension benefit plans and post-retirement benefit plans	(3,622)	(430)
Other comprehensive (loss) income before tax	(54,268)	79,603
Income tax (benefit) expense related to components of other comprehensive income	1,851	(595)
Other comprehensive (loss) income, net of tax	(52,417)	79,008
Comprehensive (loss) income attributable to Wabtec shareholders	$ (56,889)	$ 167,374

- 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	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Operating Activities
Net (loss) income	$ (4,013)	$ 87,457
Adjustments to reconcile net income to cash provided by operations:
Depreciation and amortization	55,962	27,854
Stock-based compensation expense	8,526	5,696
Loss (gain) on disposal of property, plant and equipment	1,028	(24)
Changes in operating assets and liabilities, net of acquisitions
Accounts receivable and unbilled accounts receivable	(51,614)	(66,347)
Inventories	75,300	(50,755)
Accounts payable	(116,375)	32,096
Accrued income taxes	18,396	14,004
Accrued liabilities and customer deposits	(59,978)	(1,529)
Other assets and liabilities	104,106	(24,252)
Net cash provided by operating activities	31,338	24,200
Investing Activities
Purchase of property, plant and equipment	(29,720)	(17,466)
Proceeds from disposal of property, plant and equipment	786	7,898
Acquisitions of businesses, net of cash acquired	(2,710,714)	(34,297)
Net cash used for investing activities	(2,739,648)	(43,865)
Financing Activities
Proceeds from debt	1,736,521	306,610
Payments of debt	(837,744)	(266,347)
Proceeds from exercise of stock options and other benefit plans	25	2,873
Payment of income tax withholding on share-based compensation	(4,125)	(2,937)
Cash dividends ($0.12 and $0.12 per share for the three months ended March 31, 2019 and 2018, respectively)	(11,687)	(11,531)
Net cash provided by financing activities	882,990	28,668
Effect of changes in currency exchange rates	(4,164)	7,482
(Decrease) increase in cash	(1,829,484)	16,485
Cash, cash equivalents and restricted cash beginning of period	2,342,354	233,401
Cash and cash equivalents end of period	$ 512,870	$ 249,886

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Parenthetical) - $ / shares	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Statement of Cash Flows [Abstract]
Cash dividends, per share (in dollars per share)	$ 0.12	$ 0.12

CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY - USD ($) $ in Thousands	Total	Common Stock	Additional Paid-in Capital	Treasury Stock	Retained Earnings	Accumulated Other Comprehensive Loss	Noncontrolling Interest
Beginning Balance (in shares) at Dec. 31, 2017		132,349,534		(36,315,182)
Beginning Balance at Dec. 31, 2017	$ 2,828,532	$ 1,323	$ 906,616	$ (827,379)	$ 2,773,300	$ (44,992)	$ 19,664
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Cash dividends	(11,531)
Proceeds from treasury stock issued from the exercise of stock options and other benefit plans, net of tax (in shares)				193,013
Proceeds from treasury stock issued from the exercise of stock options and other benefit plans, net of tax	(1,289)		(4,511)	$ 3,222
Stock based compensation	5,696
Net income (loss)	87,457				88,366		(909)
Other comprehensive income, net of tax	79,008					79,008
Other owner changes	356						356
Ending Balance (in shares) at Mar. 31, 2018		132,349,534		(36,122,169)
Ending Balance at Mar. 31, 2018	$ 2,988,229	$ 1,323	907,801	$ (824,157)	2,850,135	34,016	19,111
Beginning Balance (in shares) at Dec. 31, 2018	132,349,534	132,349,534		(35,734,588)
Beginning Balance at Dec. 31, 2018	$ 2,869,075	$ 1,323	914,568	$ (816,145)	3,021,968	(256,583)	3,944
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Cash dividends	(11,687)				(11,687)
Proceeds from treasury stock issued from the exercise of stock options and other benefit plans, net of tax (in shares)				420,472
Proceeds from treasury stock issued from the exercise of stock options and other benefit plans, net of tax	(5,515)		(14,446)	$ 8,931
Stock based compensation	8,526		8,526
Net income (loss)	(4,013)				(4,472)		459
Other comprehensive income, net of tax	(52,417)					(52,417)
Acquisition of General Electric Transportation (in shares)		65,782,182
Acquisition of General Electric Transportation	6,975,045	$ 658	6,887,622				86,765
Other owner changes	1,432						1,432
Ending Balance (in shares) at Mar. 31, 2019		198,131,716		(35,314,116)
Ending Balance at Mar. 31, 2019	$ 9,780,446	$ 1,981	$ 7,796,270	$ (807,214)	$ 3,005,809	$ (309,000)	$ 92,600

CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY (Parenthetical) - $ / shares	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Statement of Stockholders' Equity [Abstract]
Cash dividends, per share (in dollars per share)	$ 0.12	$ 0.12

Business	3 Months Ended
Business	Mar. 31, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Business	BUSINESS Westinghouse Air Brake Technologies Corporation (“Wabtec” or the "Company") is one of the world’s largest providers of value-added, technology-based equipment, systems and services for the global passenger transit and freight rail industries. Our highly engineered products enhance safety, improve productivity and reduce maintenance costs for customers, can be found on most locomotives, freight cars, passenger transit cars and buses around the world 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 over 50 countries and our products can be found in more than 100 countries throughout the world. In the first three months of 2019, approximately 61% of the Company’s revenues came from customers outside the United States.

Accounting Policies

3 Months Ended

Mar. 31, 2019

Accounting Policies [Abstract]

Accounting Policies

ACCOUNTING POLICIES

Basis of Presentation The unaudited condensed consolidated interim financial statements have been prepared in accordance with generally accepted accounting principles ("GAAP") in the United States of America and the rules and regulations of the Securities and Exchange Commission and include the accounts of Wabtec and its subsidiaries in which Wabtec has a controlling interest. 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, 2018. The December 31, 2018 information has been derived from the Company’s Annual Report on Form 10-K for the year ended December 31, 2018.

Revenue Recognition On January 1, 2018, the Company adopted ASC 606 “Revenue from Contracts with Customers”. This new guidance provides a five-step analysis of transactions to determine when and how revenue is recognized, and requires entities to recognize revenue at an amount that reflects the consideration to which the Company expects to be entitled in exchange for transferring goods or services to a customer.

Approximately 75% of the Company’s revenues are derived from performance obligations that are satisfied at a point in time when control passes to the customer. The remaining revenues are earned over time. Generally, for performance obligations satisfied at a point in time control passes at the time of shipment in accordance with agreed upon delivery terms.

The Company also has long-term customer agreements involving the design and production of highly engineered products that require revenue to be recognized over time because these products have no alternative use without significant economic loss and the agreements contain an enforceable right to payment including a reasonable profit margin from the customer in the event of contract termination. Additionally, the Company has customer agreements involving the creation or enhancement of an asset that the customer controls which also require revenue to be recognized over time. Generally, the Company uses an input method for determining the amount of revenue, cost and gross margin to recognize over time for these customer agreements. The input methods used for these agreements include costs of material and labor, both of which give an accurate representation of the progress made toward complete satisfaction of a particular performance obligation. Contract revenues and cost estimates are reviewed and revised quarterly at a minimum and adjustments are reflected in the accounting period as such amounts are determined.

Contract assets include unbilled amounts resulting from sales under long-term contracts where revenue is recognized over time and revenue exceeds the amount that can be billed to the customer based on the terms of the contract. The current portion of the contract assets are classified as current assets under the caption “Unbilled Accounts Receivable” while the noncurrent contract assets are classified as other assets under the caption "Other Noncurrent Assets" on the consolidated balance sheet. Noncurrent contract assets were $119.2 million at March 31, 2019 and were not material at December 31, 2018, respectively. Included in noncurrent contract assets are certain costs that are specifically related to a contract, however, do not directly contribute to the transfer of control of the tangible product being created, such as non-recurring engineering costs. The Company has elected to use the practical expedient and not consider unbilled amounts anticipated to be paid within one year as significant financing components.

Contract liabilities include customer deposits that are made prior to the incurrence of costs related to a newly agreed upon contract and advanced customer payments that are in excess of revenue recognized. The current portion of contract liabilities are classified as current liabilities under the caption “Customer Deposits” while the noncurrent contract liabilities are classified as noncurrent liabilities under the caption "Other Long-Term Liabilities" on the consolidated balance sheet. Noncurrent contract liabilities were $58.1 million at March 31, 2019 and were not material at December 31, 2018. These contract liabilities are not considered a significant financing component because they are used to meet working capital demands that can be higher in the early stages of a contract or revenue associated with the contract liabilities is expected to be recognized within one year. Contract liabilities also include provisions for estimated losses from uncompleted contracts. Provisions for loss contracts were $81.5 million and $71.2 million at March 31, 2019 and December 31, 2018, respectively. These provisions for estimated losses are classified as current liabilities and included within the caption “Other accrued liabilities” on the consolidated balance sheet.

Due to the nature of work required to be performed on the Company’s long-term projects, the estimation of total revenue and cost at completion is subject to many variables and requires significant judgment. Contract estimates related to long-term projects are based on various assumptions to project the outcome of future events that could span several years. These assumptions include cost of materials; labor availability and productivity; complexity of the work to be performed; and the performance of suppliers, customers and subcontractors that may be associated with the contract. We have a disciplined quarterly estimate-at-completion process where management reviews the progress of long term-projects. As part of this process, management reviews information including key contract matters, progress towards completion, identified risks and opportunities and any other information that could impact the Company’s estimates of revenue and costs. After completing this analysis, any quarterly adjustments to net sales, cost of goods sold, and the related impact to operating income are recognized as necessary in the period they become known.

Generally, the Company’s revenue contains a single performance obligation for each distinct good; however, a single contract may have multiple performance obligations comprising multiple promises to customers. Performance obligations are determined based on customer's intended use of products and services. Less complex products principally result in each completed product being a separate performance obligation recognized at a point in time. More complex products or services principally result in a single performance obligation as a customer is either procuring bundled offering that is managed or utilized on a combined basis or there are multiple complex goods or services in the contract, which are substantially the same and recognized over time. When there are multiple performance obligations, revenue is allocated based on the relative stand-alone selling price. Pricing is defined in our contracts on a line item basis and includes an estimate of variable consideration when required by the terms of the individual customer contract. Types of variable consideration the Company typically has include volume discounts, prompt payment discounts, liquidating damages, and performance bonuses. Sales returns and allowances are also estimated and recognized in the same period the related revenue is recognized, based upon the Company’s experience.

Remaining performance obligations represent the transaction price of firm customer orders subject to standard industry cancellation provisions and substantial scope-of-work adjustments. As of March 31, 2019, the Company's remaining performance obligations were $22.0 billion. The Company expects to recognize revenue of approximately 27% of remaining performance obligation over the next 12 months, with the remainder recognized thereafter.

Reclassifications Certain prior year amounts have been reclassified, where necessary, to conform to the current year presentation. Refer to Recently Adopted Accounting Pronouncements below.

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 As part of its risk management strategy, the Company utilizes derivative financial instruments to mitigate the impact of changes in foreign currencies and interest rates on earnings and cash flow. For further information regarding financial derivatives and hedging activities, refer to Footnotes 14 and 15.

Foreign Currency Translation Certain of our international operations have determined that the local currency is the functional currency whereas others have determined the U.S. dollar is their functional currency. Assets and liabilities of foreign subsidiaries where the functional currency is the local currency 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 period. 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.

Noncontrolling Interests In accordance with ASC 810 "Consolidation", the Company has classified noncontrolling interests as equity on the condensed consolidated balance sheets as of March 31, 2019 and December 31, 2018. Net income attributable to noncontrolling interests was $0.5 million for the three months ended March 31, 2019. Net loss attributable to noncontrolling interests was $0.9 million for the three months ended March 31, 2018.

Recently Issued Accounting Pronouncements In January 2017, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") No. 2017-04, "Intangibles - Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment". The amendments in this update eliminate the requirement to perform Step 2 of the goodwill impairment test. Instead, an entity should perform a goodwill impairment test by comparing the fair value of a reporting unit with its carrying amount and recognize an impairment charge for the amount by which the carrying amount exceeds the reporting unit's fair value up to the carrying amount of the goodwill. The ASU is effective for public companies in the fiscal years beginning after December 15, 2019, and interim periods within those fiscal years. Early adoption is permitted. The impact of adopting this guidance could result in a change in the overall conclusion as to whether or not a reporting unit's goodwill is impaired and the amount of an impairment charge recognized in the event a reporting units' carrying value exceeds its fair value. All of the Company's reporting units had fair values that were substantially greater than the carrying value as of the Company's last quantitative goodwill impairment test, which was performed as of October 1, 2018.

Recently Adopted Accounting Pronouncements In February 2018, FASB issued ASU No. 2018-02, "Income Statement - Reporting Comprehensive Income (Topic 220): Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income". The amendments in this update address certain stranded income tax effects in accumulated other comprehensive income ("AOCI") resulting from the Tax Cuts and Jobs Act (the "Tax Act"). Current guidance requires the effect of a change in tax laws or rates on deferred tax balances to be reported in income from continuing operations in the accounting period that includes the period of enactment, even if the related income tax effects were originally charged or credited directly to AOCI. The amendments in this update allow a reclassification from accumulated other comprehensive income to retained earnings for stranded effects resulting from the Tax Act. The amount of the reclassification would include the effect of the change in the U.S. federal corporate income tax rate on the gross deferred tax amounts and related valuation allowances, if any, at the date of the enactment of the Tax Act related to items in AOCI. The updated guidance became effective for reporting periods beginning after December 15, 2018. The Company adopted this accounting standard at the beginning of the period and elected to not retrospectively apply the new standard. The impact of adopting the new standard was not material to the consolidated statement of income or the consolidated balance sheet.

In February 2016, FASB issued ASU No. 2016-02, "Leases (Topic 814)" which requires lessees to recognize a right of use asset and lease liability on the balance sheet for all leases with terms longer than 12 months. For leases with terms less than 12 months, a lessee is permitted to make an accounting policy election by class of underlying asset not to recognize a right of use asset and lease liability. This guidance became effective for the Company on January 1, 2019. The Company elected the practical expedient which does not require the capitalization of leases with terms of 12 months or less. And the Company did not elect the practical expedient which allows hindsight to be used to determine the term of a lease. The Company adopted the standard using the transition alternative, which allowed for the application of the guidance at beginning of the period in which it is adopted, rather than requiring the adjustment of prior comparative periods. For further information regarding the Company's adoption of the new standard, see Footnote 7.

Other Comprehensive Income (Loss) Comprehensive income comprises both net income and the change in equity from transactions and other events and circumstances from nonowner sources.

The changes in accumulated other comprehensive income (loss) by component, net of tax, for the three months ended March 31, 2019 are as follows:



In thousands	Foreign currency translation			Derivative contracts			Pension and post retirement benefit plans			Total
Balance at December 31, 2018	$	(202,204	)	$	(53	)	$	(54,326	)	$	(256,583	)
Other comprehensive income (loss) before reclassifications	(46,553		)	(3,111		)	(3,305		)	(52,969		)
Amounts reclassified from accumulated other
comprehensive income	—			—			552			552
Net current period other comprehensive income (loss)	(46,553		)	(3,111		)	(2,753		)	(52,417		)
Balance at March 31, 2019	$	(248,757	)	$	(3,164	)	$	(57,079	)	$	(309,000	)

Reclassifications out of accumulated other comprehensive income (loss) for the three months ended March 31, 2019 are as follows:



In thousands	Amount reclassified from accumulated other comprehensive income			Affected line item in the Condensed Consolidated Statements of Income
Amortization of defined pension and post retirement items
Amortization of initial net obligation and prior service cost	$	(366	)	Other income (expense), net
Amortization of net loss	1,092			Other income (expense), net
	726			Other income (expense), net
	(174		)	Income tax expense
	$	552		Net income

Derivative contracts
Realized loss on derivative contracts	$	—		Interest expense, net
	—			Income tax expense
	$	—		Net income

The changes in accumulated other comprehensive loss by component, net of tax, for the three months ended March 31, 2018 are as follows:



	Foreign currency translation		Derivative contracts		Pension and post retirement benefit plans			Total
Balance at December 31, 2017	$	5,063	$	4,015	$	(54,070	)	$	(44,992	)
Other comprehensive income (loss) before reclassifications	77,967		920		(847		)	78,040
Amounts reclassified from accumulated other
comprehensive income	—		448		520			968
Net current period other comprehensive income (loss)	77,967		1,368		(327		)	79,008
Balance at March 31, 2018	$	83,030	$	5,383	$	(54,397	)	$	34,016

Reclassifications out of accumulated other comprehensive loss for the three months ended March 31, 2018 are as follows:



In thousands	Amount reclassified from accumulated other comprehensive income			Affected line item in the Condensed Consolidated Statements of Operations
Amortization of defined pension and post retirement items
Amortization of initial net obligation and prior service cost	$	(375	)	Other income (expense), net
Amortization of net loss	1,093			Other income (expense), net
	718			Other income (expense), net
	(198		)	Income tax expense
	$	520		Net income

Derivative contracts
Realized loss on derivative contracts	$	679		Interest expense, net
	(231		)	Income tax expense
	$	448		Net income

Acquisitions

3 Months Ended

Mar. 31, 2019

Business Combinations [Abstract]

Acquisitions

ACQUISITIONS

General Electric Transportation

Wabtec, General Electric Company ("GE"), GE Transportation, a Wabtec Company formerly known as Transportation System Holdings Inc. ("SpinCo"), which was a newly formed wholly owned subsidiary of GE, and Wabtec US Rail Holdings, Inc. ("Merger Sub"), which was a newly formed wholly owned subsidiary of the Company, entered into the Original Merger Agreement on May 20, 2018, and GE, SpinCo, Wabtec and Wabtec US Rail, Inc. ("Direct Sale Purchaser") entered into the Original Separation Agreement on May 20, 2018, which together provided for the combination of Wabtec and GE Transportation. The Original Merger Agreement and Original Separation Agreement were subsequently amended on January 25, 2019 and the Merger was completed on February 25, 2019.

As part of the Merger, certain assets of GE Transportation ("GET"), including the equity interests of certain pre-Transaction subsidiaries of GE that compose part of GE Transportation, were sold to Direct Sale Purchaser for a cash payment of $2.875 billion, and Direct Sale Purchaser assumed certain liabilities of GE Transportation in connection with this purchase (the "Direct Sale"). Thereafter, GE transferred the SpinCo Business to SpinCo and its subsidiaries (to the extent not already held by SpinCo and its subsidiaries), and SpinCo issued to GE shares of SpinCo Class A preferred stock, SpinCo Class B preferred stock, SpinCo Class C preferred stock and additional shares of SpinCo common stock in the SpinCo Transfer. Following this issuance of additional SpinCo common stock to GE, and immediately prior to the Distribution, GE owned 8,700,000,000 shares of SpinCo common stock, 15,000 shares of SpinCo Class A preferred stock, 10,000 shares of SpinCo Class B preferred stock and one share of SpinCo Class C preferred stock, which constituted all of the outstanding stock of SpinCo.

Following the Direct Sale, GE distributed the Distribution Shares of SpinCo in a spin-off transaction to its stockholder. Immediately after the Distribution, Merger Sub merged with and into SpinCo, whereby the separate corporate existence of Merger Sub ceased and SpinCo continued as the surviving company and a wholly owned subsidiary of Wabtec (except with respect to shares of SpinCo Class A preferred stock held by GE). In the Merger, subject to adjustment in accordance with the Merger Agreement, each share of SpinCo common stock converted into the right to receive a number of shares of Wabtec common stock based on the common stock exchange ratio set forth in the Merger Agreement and the share of SpinCo Class C preferred stock was converted into the right to receive (a) 10,000 shares of Wabtec convertible preferred stock and (b) a number of shares of Wabtec common stock equal to 9.9% of the fully-diluted pro forma Wabtec shares. Immediately prior to the Merger, Wabtec paid $10.0 million in cash to GE in exchange for all of the shares of SpinCo Class B preferred stock.

Upon consummation of the Merger Wabtec issued 46,763,975 shares of common stock to the holders of GE common stock, 19,018,207 shares of common stock to GE and 10,000 shares of preferred stock to GE and made a cash payment to GE of $2.885 billion. As a result and calculated based on Wabtec’s outstanding common stock on a fully-diluted, as-converted and as-exercised basis, as of December 31, 2018, approximately 49.2% of the outstanding shares of Wabtec common stock was held collectively by GE and holders of GE common stock (with 9.9% to be held by GE directly in shares of Wabtec common stock and 15% underlying the shares of Wabtec convertible preferred stock to be held by GE) and approximately 50.8% of the outstanding shares of Wabtec common stock would be held by pre-Merger Wabtec stockholders, in each case calculated on a fully-diluted, as-converted and as-exercised basis. Following the Merger, GE also retained 15,000 shares of SpinCo Class A non-voting preferred stock, and Wabtec held 10,000 shares of SpinCo Class B non-voting preferred stock. The shares of Wabtec common stock and Wabtec convertible preferred stock held by GE are subject to GE’s obligations under the Shareholders Agreement, including, among other things, and in each case subject to certain exceptions, (i) restrictions on the ability to sell, transfer or otherwise divest such shares for a period of 30 days and (ii) an obligation to sell, transfer or otherwise divest (A) by no later than 120 days following the closing date of the Merger, GE’s (and its affiliates’) ownership of Wabtec common stock and/or Wabtec convertible preferred stock so that GE (together with its affiliates) beneficially owns not less than 14.9% and not more than 19.9% of the number of shares of Wabtec common stock that were outstanding immediately after the closing of the Merger, (B) by no later than one year following the closing date of the Merger, GE’s (and its affiliates’) ownership of Wabtec common stock and/or Wabtec convertible preferred stock so that GE (together with its affiliates) beneficially owns not more than 18.5% of the number of shares of Wabtec common stock that were outstanding immediately after the closing of the Merger, in each case of clauses (A) and (B) treating the Wabtec convertible preferred stock as the Wabtec common stock into which it is convertible both for purposes of determining the number of shares of Wabtec common stock owned and for purposes of determining the number of shares of Wabtec common stock outstanding and (C) by no later than the third anniversary of the closing date of the Merger, all of the subject shares that GE (together with its affiliates) beneficially owns, and (iii) an obligation to vote all of such shares of Wabtec common stock in the proportion required under the Shareholders Agreement.

After the Merger, SpinCo, which is Wabtec’s wholly owned subsidiary (except with respect to shares of SpinCo Class A preferred stock held by GE), holds the SpinCo Business and Direct Sale Purchaser, which also is Wabtec’s wholly owned subsidiary, holds the assets purchased and the liabilities assumed in connection with the Direct Sale. Together, SpinCo and Direct Sale Purchaser own and operate the post-Transaction GE Transportation. All shares of the Company’s common stock, including those issued in the Merger, are listed on the NYSE under the Company’s current trading symbol “WAB.” On the date of the Distribution, GE or its subsidiaries and SpinCo or the SpinCo Transferred Subsidiaries entered into additional agreements relating to, among other things, intellectual property, employee matters, tax matters, research and development and transition services.

On May 6, 2019, GE completed the sale of approximately 8,780 shares of Wabtec's Series A Preferred stock which converted upon the sale to 25,300,000 shares of Wabtec's common stock. After the sale Wabtec had approximately 1,220 shares of Series A Preferred Stock outstanding convertible to approximately 3,515,500 shares of common stock and GE's aggregate beneficial ownership percentage of the Company was reduced from approximately 24.9% to approximately 11.7% on a fully-diluted, as-converted and as-exercised basis. In conjunction with this secondary offering the Company waived the requirement under the Shareholders Agreement for GE to maintain ownership of at least 14.9% of Wabtec's stock for 120 days following the closing date of the Merger. The Company did not receive any proceeds from the sale of these shares.

Total future consideration to be paid by Wabtec to GE includes a fixed payment of $470.0 million, which is directly related to the timing of tax benefits expected to be realized by Wabtec as a result of the merger. This payment is considered contingent consideration because the timing of cash payments to GE is directly related to the future timing of tax benefits received by the Company as a result of the merger. The estimated total value of the consideration to be paid by Wabtec in the Transactions is approximately $10.3 billion, including the cash paid for the Direct Sales Assets, equity transferred for SpinCo, contingent consideration, assumed debt and net of cash acquired. The estimated consideration is based on the Company’s closing share price of $73.36 on February 22, 2019 and the preliminary fair value of the contingent consideration. The value of the preliminary purchase price consideration could change when the Company has completed the detailed valuation of the contingent consideration and other necessary calculations.

The fair values of the assets acquired and liabilities assumed were determined using the income, cost and market approaches. The fair value measurements were primarily based on significant inputs that are not observable in the market and are considered Level 3. The March 31, 2019 consolidated balance sheet includes the assets and liabilities of GET, which have been initially measured at fair value. The noncontrolling interest includes equity interests in GET's Brazil operations held by third parties on the date of acquisition. At the time of acquisition, quotable market prices of the noncontrolling interest existed; therefore, the noncontrolling interest in the GET Brazil operations were measured using a Level 1 input. In April 2019, the Company acquired the noncontrolling interest in GET's Brazil operations for $56.2 million which approximated the fair value assigned to the noncontrolling interest on the date of acquisition. The remaining noncontrolling interest value was determined based on inputs that are not observable in the market and are considered Level 3.

The following table summarizes the preliminary fair values of the GET assets acquired and liabilities assumed:



In thousands
Assets acquired
Cash and cash equivalents	$	174,334
Accounts receivable	530,054
Inventories	1,179,439
Other current assets	64,464
Property, plant, and equipment	1,071,402
Goodwill	5,783,358
Trade names	50,000
Customer relationships	529,984
Intellectual property	1,219,968
Backlog	1,480,000
Other noncurrent assets	234,823
Total assets acquired	12,317,826
Liabilities assumed
Current liabilities	1,495,438
Contingent consideration	440,000
Other noncurrent liabilities	523,801
Total liabilities assumed	2,459,239
Net assets acquired	9,858,587
Noncontrolling interest	$	86,765

These estimates are preliminary in nature and subject to adjustments, which could be material. Any necessary adjustments will be finalized within one year from the date of acquisition. Substantially all of the accounts receivable acquired are expected to be collectible. Trade names, customer relationships, patents and backlog intangible assets are all subject to amortization. Contingent liabilities assumed as part of the transaction were not material. The contingent liabilities are related to legal and tax matters. Contingent liabilities are recorded at fair value in purchase accounting, aside from those pertaining to uncertainty in income taxes which are an exception to the fair value basis of accounting. Included in other noncurrent liabilities are customer contracts whose terms are unfavorable compared to market terms at the date of acquisition.

Goodwill was calculated as the difference between the acquisition date fair value of the consideration transferred and the fair value of the net assets acquired, and represents the future economic benefits, including synergies, assembled workforce, that are expected to be achieved as a result of the acquisition. Substantially all of the purchased goodwill is expected to be deductible for tax purposes. The goodwill has been preliminarily allocated to the Freight segment.

For the 34 day period ended March 31, 2019, the Company's consolidated statement of income included $495.0 million of revenues and $0.5 million of operating income from GET. Acquisition related costs were approximately $58.9 million for the three months ended March 31, 2019 and are included in selling, general and administrative expenses on the consolidated statements of income.

Other Acquisitions

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


•	On March 22, 2018, the Company acquired Annax GmbH ("Annax"), a leading supplier of public address and passenger information systems for transit vehicles, for a purchase price of approximately $28.7 million, net of cash acquired, resulting in final goodwill of $27.2 million, none of which will be deductible for tax purposes.

The acquisitions listed above include escrow deposits of $13.2 million, which act as security for indemnity and other claims in accordance with the purchase and related escrow agreements.

The following table summarizes the final fair values of the assets acquired and liabilities assumed at the date of the acquisition for Annax.



	Annax
In thousands	March 22, 2018
Current assets	$	32,831
Property, plant & equipment	674
Goodwill	27,188
Other intangible assets	11,715
Total assets acquired	72,408
Total liabilities assumed	(43,741		)
Net assets acquired	$	28,667

The total goodwill and other intangible assets for the acquisition listed in the table above was $38.9 million, of which $27.2 million and $11.7 million was related to goodwill and other intangible assets, respectively. Of the allocation of $11.7 million of total acquired other intangible assets, $3.8 million was assigned to trade names and $7.5 million was assigned to customer relationships. The trade names were determined to have indefinite useful lives, while the customer relationships’ average useful lives are 20 years.

The following unaudited pro forma consolidated financial information presents income statement results as if the acquisitions listed above had occurred on January 1, 2018:



In thousands	Three Months Ended March 31, 2019			Three Months Ended March 31, 2018
Net sales	$	2,079,771		$	1,881,724
Gross profit	543,480			553,681
Net income attributable to Wabtec shareholders	83,277			77,275
Diluted earnings per share
As Reported	$	(0.04	)	$	0.92
Pro forma	$	0.44		$	0.41

Inventories

3 Months Ended

Mar. 31, 2019

Inventory Disclosure [Abstract]

Inventories

INVENTORIES

The components of inventory, net of reserves, were:



In thousands	March 31, 2019		December 31, 2018
Raw materials	$	822,178	$	465,873
Work-in-progress	435,565		154,485
Finished goods	689,477		224,528
Total inventories	$	1,947,220	$	844,886

Intangibles

3 Months Ended

Mar. 31, 2019

Goodwill and Intangible Assets Disclosure [Abstract]

Intangibles

INTANGIBLES

The change in the carrying amount of goodwill by segment for the three months ended March 31, 2019 is as follows:



In thousands	Freight Segment			Transit Segment			Total
Balance at December 31, 2018	$	713,391		$	1,683,153		$	2,396,544
Additions	5,783,358			—			5,783,358
Foreign currency impact	(15,315		)	(22,114		)	(37,429		)
Balance at March 31, 2019	$	6,481,434		$	1,661,039		$	8,142,473

As of March 31, 2019 and December 31, 2018, the Company’s trade names had a net carrying amount of $624.6 million and $582.8 million, respectively. The Company believes these intangibles have indefinite lives, with the exception of the GET trade name, to which the company has assigned a useful life of 5 years.

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



In thousands	March 31, 2019		December 31, 2018
Intellectual property, patents, non-compete and other intangibles, net of accumulated
amortization of $51,127 and $42,446	$	2,697,919	$	15,328
Customer relationships, net of accumulated amortization
of $168,774 and $158,533	1,041,551		531,761
Total	$	3,739,470	$	547,089

The weighted average remaining useful life of intellectual property, customer relationships and other intangibles were 10 years, 18 years and 13 years, respectively. Amortization expense for intangible assets was $27.4 million for the three months ended March 31, 2019, and $10.4 million for the three months ended March 31, 2018, respectively.

Amortization expense for the five succeeding years is estimated to be as follows:



Remainder of 2019	$	191,746
2020	254,053
2021	253,908
2022	253,596
2023	253,258

Contract Assets and Contract Liabilities

3 Months Ended

Mar. 31, 2019

Revenue from Contract with Customer [Abstract]

Contract Assets and Contract Liabilities

CONTRACT ASSETS AND CONTRACT LIABILITIES

Contract assets include unbilled amounts resulting from sales under long-term contracts where revenue is recognized over time and revenue exceeds the amount that can be billed to the customer based on the terms of the contract. Contract liabilities include customer deposits that are made prior to the incurrence of costs related to a newly agreed upon contract, advanced customer payments that are in excess of revenue recognized, and provisions for estimated losses from uncompleted contracts.

The change in the carrying amount of contract assets and contract liabilities for the three months ended March 31, 2019 is as follows:



In thousands	Contract Assets
Balance at beginning of year	$	345,585
Acquisitions	238,665
Recognized in current year	188,299
Reclassified to accounts receivable	(196,973		)
Foreign currency impact	(756		)
Balance at March 31, 2019	$	574,820

In thousands	Contract Liabilities
Balance at beginning of year	$	444,805
Acquisitions	274,054
Recognized in current year	205,272
Amounts in beginning balance reclassified to revenue	(204,388		)
Current year amounts reclassified to revenue	(6,421		)
Foreign currency impact	(424		)
Balance at March 31, 2019	$	712,898

Leases

3 Months Ended

Mar. 31, 2019

Leases [Abstract]

Leases

LEASES

During the March 2019 quarter, the Company adopted ASU No. 2016-02, "Leases (Topic 842)," which requires leases with durations greater than twelve months to be recognized on the balance sheet. The Company adopted the standard using the modified retrospective approach with an effective date as of the beginning of our fiscal year, January 1, 2019. Prior year financial statements were not recast under the new standard and, therefore, those amounts are not presented below.

The Company leases property and equipment under finance and operating leases. For leases with terms greater than 12 months, the Company records the related asset and obligation at the present value of lease payments over the term. Many of our leases include rental escalation clauses, renewal options, and/or termination options that are factored into our determination of lease payments when appropriate. The Company does not separate lease and non-lease components contracts.

As most of the Company's leases do not provide a readily stated discount rate, the Company must estimate our incremental borrowing rate to discount lease payments. We have established discount rates by geographic region ranging from 1.19% to 12.26%.

Lease Expense for the quarter is as follows:



	Three Months Ended March 31,
(in thousands)	2019
Operating Lease Expense	$	13,397
Finance Lease Expense
Amortization of Leased Assets	271
Interest on Lease Liabilities	4
Short-term and Variable Lease Expense	105
Sublease Income	(138		)
Total	$	13,639

Maturity of Lease Liabilities:



(in thousands)	Operating Leases			Finance Leases			Total
Remaining 2019	$	38,094		$	278		$	38,372
2020	44,455			377			44,832
2021	36,350			180			36,530
2022	29,824			121			29,945
2023	25,377			121			25,498
Thereafter	106,069			348			106,417
Total Lease Payments	280,169			1,425			281,594
Less: Present Value Discount	(30,949		)	(5		)	(30,954		)
Present Value Lease Liabilities	$	249,220		$	1,420		$	250,640

Lease Term and Discount Rate:



	Three Months Ended March 31,
	2019
Weighted-average remaining lease term (years)
Operating Leases	8.44
Finance Leases	5.68
Weighted-average discount rate
Operating Leases	3.00	%
Finance Leases	1.19	%

Leases

LEASES

Lease Expense for the quarter is as follows:



	Three Months Ended March 31,
(in thousands)	2019
Operating Lease Expense	$	13,397
Finance Lease Expense
Amortization of Leased Assets	271
Interest on Lease Liabilities	4
Short-term and Variable Lease Expense	105
Sublease Income	(138		)
Total	$	13,639

Maturity of Lease Liabilities:



(in thousands)	Operating Leases			Finance Leases			Total
Remaining 2019	$	38,094		$	278		$	38,372
2020	44,455			377			44,832
2021	36,350			180			36,530
2022	29,824			121			29,945
2023	25,377			121			25,498
Thereafter	106,069			348			106,417
Total Lease Payments	280,169			1,425			281,594
Less: Present Value Discount	(30,949		)	(5		)	(30,954		)
Present Value Lease Liabilities	$	249,220		$	1,420		$	250,640

Lease Term and Discount Rate:



	Three Months Ended March 31,
	2019
Weighted-average remaining lease term (years)
Operating Leases	8.44
Finance Leases	5.68
Weighted-average discount rate
Operating Leases	3.00	%
Finance Leases	1.19	%

Long-Term Debt

3 Months Ended

Mar. 31, 2019

Debt Disclosure [Abstract]

Long-Term Debt

LONG-TERM DEBT

Long-term debt consisted of the following:



In thousands	March 31, 2019		December 31, 2018
Floating Senior Notes, due 2021, net of unamortized debt issuance costs of $2,904 and $3,204	$	497,096	$	496,796
4.150% Senior Notes, due 2024, net of unamortized debt issuance costs of $6,703 and $7,043	743,297		742,957
4.70% Senior Notes, due 2028, net of unamortized debt issuance costs of $10,076 and $10,343	1,239,924		1,239,657
3.45% Senior Notes, due 2026, net of unamortized debt issuance costs of $1,661 and $1,718	748,339		748,282
4.375% Senior Notes, due 2023, net of unamortized discount and debt issuance costs of $1,113 and $1,177	248,888		248,823
Revolving Credit Facility, net of unamortized debt issuance costs of $2,865 and $3,138	1,226,903		338,112
Other Borrowings	258,147		42,246
Total	4,962,594		3,856,873
Less - current portion	321,308		64,099
Long-term portion	$	4,641,286	$	3,792,774

On September 14, 2018, the Company issued $2.5 billion of senior notes with three different maturities.

•

Floating Rate Senior Notes due 2021 - The Company issued $500.0 million of Floating Rate Senior Notes due 2021 (the "Floating Rate Notes"). The Floating Rate Notes, which are non-callable for one year, were issued at 100% of face value. Interest on the Floating Rate Notes accrues at a floating rate per annum equal to three-month Libor plus 105 basis points. The interest rate for the Floating Rate Notes for the initial interest period was the three-month Libor plus 105 basis points determined on September 12, 2018 and is payable quarterly on December 15, March 15, June 15, and September 15 of each year. The Company incurred $3.5 million of deferred financing costs related to the issuance of the Floating Rate Notes.

•

4.15% Senior Notes due 2024 - The Company issued $750.0 million of 4.15% Senior Notes due 2024 (the "2024 Notes"). The 2024 Notes were issued at 99.805% of face value. Interest on the 2024 Notes accrues at a rate of 4.15% per annum and is payable semi-annually on March 15 and September 15 of each year. The Company incurred $7.4 million of deferred financing costs related to the issuance of the 2024 Notes.

•

4.70% Senior Notes Due 2028 - The Company issued $1,250.0 million of 4.70% Senior Notes due 2028 (the "2028 Notes" and together with the Floating Rate Notes and 2024 Notes, the "Senior Notes"). The 2028 Notes were issued at 99.889% of face value. Interest on the 2028 Notes accrues at a rate of 4.70% per annum and is payable semi-annually on March 15 and September 15 of each year. The Company incurred $10.6 million of deferred financing costs related to the issuance of the 2028 Notes.

The net proceeds from the issuance and sale of the Senior Notes were used to finance the cash portion of the GE Transportation acquisition. The principal balances are due in full at maturity. The Senior 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 Senior Notes were issued contains covenants and restrictions which limit among other things, the following: the incurrence of indebtedness, payment of dividends and certain distributions, sales of assets, change in control, mergers and consolidations and the incurrence of liens.

On February 12, 2019, the rating assigned by Moody's was decreased to Ba1. Accordingly, pursuant to the respective terms of the Senior Notes issued on September 14, 2018, the interest rate shall be increased by 0.25%. The interest rate increase took effect during the interest period following February 12, 2019.

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

3.45% Senior Notes Due November 2026

On November 3, 2016, the Company issued $750.0 million of 3.45% Senior Notes due in 2026 (the "2016 Notes"). The 2016 Notes were issued at 99.965% of face value. Interest on the 2016 Notes accrues at a rate of 3.45% per annum and is payable semi-annually on May 15 and November 15 of each year. The proceeds were used to finance the cash portion of the Faiveley Transport acquisition, refinance Faiveley Transport's indebtedness, and for general corporate purposes. The principal balance is due in full at maturity. The Company incurred $2.7 million of deferred financing costs related to the issuance of the 2016 Notes.

The 2016 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 2016 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 2016 Notes were issued and expects that these restrictions and covenants will not be any type of limiting factor in executing our operating activities.

4.375% Senior Notes Due August 2023

In August 2013, the Company issued $250.0 million of 4.375% 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 of the 2013 Notes.

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.

2018 Refinancing Credit Agreement

On June 8, 2018, the Company entered into a credit agreement (the “2018 Refinancing Credit Agreement”), which replaced the Company’s then-existing 2016 Refinancing Credit Agreement. As part of the 2018 Refinancing Credit Agreement, the Company entered into (i) a $1.2 billion revolving credit facility (the “Revolving Credit Facility”), which replaced the Company’s revolving credit facility under the 2016 Refinancing Credit Agreement, and includes a letter of credit sub-facility of up to $450.0 million and a swing line sub-facility of $75.0 million, (ii) a $350.0 million term loan (the “Refinancing Term Loan”), which refinanced the term loan under the 2016 Refinancing Credit Agreement, and (iii) a new $400.0 million delayed draw term loan (the “Delayed Draw Term Loan”). The 2018 Refinancing Credit Agreement also provided for a bridge loan facility (the “Bridge Loan Facility”) in an amount not to exceed $2.5 billion, such facility to become effective at the Company’s request. Commitments in respect of the Bridge Loan Facility were terminated upon the issuance and sale of the Senior Notes on September 14, 2018. In addition, the 2018 Refinancing Credit Agreement contains an uncommitted accordion feature allowing the Company to request, in an aggregate amount not to exceed $600.0 million, increases to the borrowing commitments under the Revolving Credit Facility or a new incremental term loan commitment. At March 31, 2019, the Company had approximately $675.1 million of available bank borrowing capacity subject to certain financial covenant restrictions, net of $27.6 million of letters of credit.

The Revolving Credit Facility matures on June 8, 2023 and is unsecured. The Refinancing Term Loan matures on June 8, 2021 and is unsecured. The Delayed Draw Term Loan matures on the third anniversary of the date on which it is borrowed and is unsecured. The applicable interest rate for borrowings under the 2018 Refinancing Credit Agreement includes interest rate spreads based on the lower of the pricing corresponding to (i) the Company’s ratio of total debt (less unrestricted cash up to $300.0 million) to EBITDA (“Leverage Ratio”) or (ii) the Company’s public rating, in each case that range between 1.000% and 1.875% for LIBOR/CDOR-based borrowings and 0.0% and 0.875% for Alternate Base Rate based borrowings. The obligations of the Company under the 2018 Refinancing Credit Agreement have been guaranteed by certain of the Company’s subsidiaries.

The Delayed Draw Term Loan was initially drawn on February 25, 2019. The Company incurred a 17.5 basis point commitment fee from June 8, 2018 until the initial draw.

The 2018 Refinancing Credit Agreement contains customary representations and warranties by the Company and its subsidiaries, including customary use of materiality, material adverse effect, and knowledge qualifiers. The Company and its subsidiaries are also subject to (i) customary affirmative covenants that impose certain reporting obligations on the Company and its subsidiaries and (ii) customary negative covenants, including limitations on: indebtedness; liens; restricted payments; fundamental changes; business activities; transactions with affiliates; restrictive agreements; changes in fiscal year; and use of proceeds. In addition, the Company is required to maintain (i) an Interest Coverage ratio at least 3.00 to 1.00 over each period of four consecutive fiscal quarters ending on the last day of a fiscal quarter and (ii) a Leverage Ratio, calculated as of the last day of a fiscal quarter for a period of four consecutive fiscal quarters, of 3.25 to 1.00 or less; provided that, in the event the Company completes the Direct Sale and the Merger or any other material acquisition in which the cash consideration paid exceeds $500.0 million, the maximum Leverage Ratio permitted will be 3.75 to 1.00 at the end of the fiscal quarter in which such acquisition is consummated and each of the three fiscal quarters immediately following such fiscal quarter and 3.50 to 1.00 at the end of each of the fourth and fifth full fiscal quarters after the consummation of such acquisition. The Company is in compliance with the restrictions and covenants of the 2018 Refinancing Credit Agreement and does not expect that these measurements will limit the Company in executing its operating activities.

At March 31, 2019, the weighted average interest rate on the Company’s variable rate debt was 3.46%. 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 was November 7, 2016, and the termination date was December 19, 2018.

2016 Refinancing Credit Agreement

On June 22, 2016, the Company amended its existing revolving credit facility with a consortium of commercial banks. This 2016 Refinancing Credit Agreement provided the Company with a $1.2 billion, 5 year revolving credit facility and a $400 million delayed draw term loan (the “Term Loan”). The Company incurred approximately $3 million of deferred financing cost related to the 2016 Refinancing Credit Agreement. The 2016 Refinancing Credit Agreement borrowings bore variable interest rates indexed as described below.

Under the 2016 Refinancing Credit Agreement, the Company could 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 adjusted on a daily basis and was the greater of the Federal Funds Effective Rate plus 0.50% 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 the quoted rates specific to the applicable currency, 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 EBITDA ratios. The initial Base Rate margin was 0 basis points and the Alternate Rate margin is 175 basis points.

Employee Benefit Plans

3 Months Ended

Mar. 31, 2019

Retirement Benefits [Abstract]

Employee Benefit Plans

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 March 31,						Three Months Ended March 31,
In thousands, except percentages	2019			2018			2019			2018
Net periodic benefit cost
Service cost	$	71		$	87		$	611		$	691
Interest cost	372			333			1,711			1,834
Expected return on plan assets	(433		)	(445		)	(2,927		)	(3,466		)
Net amortization/deferrals	207			243			641			554
Net periodic benefit cost (credit)	$	217		$	218		$	36		$	(387	)



Assumptions
Discount Rate	4.30	%	3.56	%	2.53	%	2.40	%
Expected long-term rate of return	5.35	%	5.15	%	5.01	%	5.10	%
Rate of compensation increase	3.00	%	3.00	%	2.60	%	2.60	%

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 $6.4 million to the international plans during 2019. The Company does not expect to make contributions to the U.S. plans during 2019.

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 March 31,						Three Months Ended March 31,
In thousands, except percentages	2019			2018			2019			2018
Net periodic benefit cost
Service cost	$	1		$	1		$	2		$	8
Interest cost	89			81			20			26
Net amortization/deferrals	(101		)	(76		)	(22		)	(4		)
Net periodic benefit cost	$	(11	)	$	6		$	0		$	30



Assumptions
Discount Rate	4.17	%	3.43	%	3.49	%	3.21	%

Stock-Based Compensation

3 Months Ended

Mar. 31, 2019

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Stock-Based Compensation

STOCK-BASED COMPENSATION

As of March 31, 2019, the Company maintains employee stock-based compensation plans for stock options, restricted stock, and incentive stock units as governed by the 2011 Stock Incentive Compensation Plan, as amended and restated (the “2011 Plan”) and the 2000 Stock Incentive Plan, as amended (the “2000 Plan”). The 2011 Plan has a term through May 10, 2027 and provides a maximum of 3,800,000 shares for grants or awards, plus any shares which remain available under the 2000 Plan. The amendment and restatement of the 2011 Plan was approved by stockholders of Wabtec on May 10, 2017. The Company also maintains a 1995 Non-Employee Directors’ Fee and Stock Option Plan as amended and restated (“the Directors Plan”).

Stock-based compensation expense was $8.5 million and $5.7 million for the three months ended March 31, 2019 and 2018, respectively. Included in stock-based compensation expense for the three months ended March 31, 2019 is $0.4 million of expense related to stock options, $2.7 million related to restricted stock, $0.8 million related to restricted stock units, $4.3 million related to incentive stock units and $0.3 million related to units issued for Directors’ fees. At March 31, 2019, unamortized compensation expense related to stock options, non-vested restricted shares and incentive stock units expected to vest totaled $75.6 million.

Stock Options Stock options are granted to eligible employees at an exercise price equivalent to the stock's 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 granted prior to 2019 become exercisable over a four-year vesting period, while options granted in 2019 become exercisable over a three-year vesting period. Both vesting periods 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 three months ended March 31, 2019:



	Options		Weighted Average Exercise Price		Weighted Average Remaining Contractual Life	Aggregate Intrinsic value (in thousands)
Outstanding at December 31, 2018	466,677		$	61.04	5.7	$	5,917
Granted	128,555		72.85			112
Exercised	(734	)	64.54			7
Canceled	(228	)	74.38			—
Outstanding at March 31, 2019	594,270		63.58		6.4	6,027
Exercisable at March 31, 2019	355,222		56.00		5.2	6,295

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:



	Three Months Ended March 31,
	2019		2018
Dividend yield	0.66	%	0.33	%
Risk-free interest rate	2.63	%	2.70	%
Stock price volatility	25.8	%	23.9	%
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 Plan and 2000 Plan, eligible employees are granted restricted stock that generally vests over four years from the date of grant. Under the Directors Plan, restricted stock units vest one year from the date of grant.

In addition, the Company has issued incentive stock units 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 units can vest, with underlying shares of common stock being awarded in an amount ranging from 0% to 200% of the amount of initial incentive stock units granted. The incentive stock units included in the table below represent the number of incentive stock units that are expected to vest based on the Company’s estimate for meeting those established performance targets. As of March 31, 2019, the Company estimates that it will achieve 100%, 100% and 100% for the incentive stock awards expected to vest based on performance for the three-year periods ending December 31, 2019, 2020, and 2021, respectively, and has recorded incentive compensation expense accordingly. If our estimate of the number of these incentive stock units 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 non-vested restricted stock and incentive stock units 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 activity and related information for the 2011 Plan, the 2000 Plan and the Directors Plan, and incentive stock units activity for the 2011 Plan and the 2000 Plan with related information for the three months ended March 31, 2019:



	Restricted Stock and Units		Incentive Stock Units		Weighted Average Grant Date Fair Value
Outstanding at December 31, 2018	445,089		415,243		$	75.51
Granted	535,873		258,600		70.64
Vested	(105,651	)	(119,835	)	68.62
Adjustment for incentive stock awards expected to vest	—		18,398		81.20
Canceled	(6,733	)	(5,350	)	80.17
Outstanding at March 31, 2019	868,578		567,056		73.93

Income Taxes	3 Months Ended
Income Taxes	Mar. 31, 2019
Income Tax Disclosure [Abstract]
Income Taxes	INCOME TAXES The overall effective tax rate was 127.7% and 23.0% for the three months ended March 31, 2019 and 2018. The increase in the effective rate for the three months ended March 31, 2019 is primarily the result of non-deductible transaction related expenses incurred as a result of the acquisition of GE Transportation. As of March 31, 2019, the liability for income taxes associated with uncertain tax positions was $12.1 million, of which $10.2 million, if recognized, would favorably affect the Company’s effective income tax rate. As of December 31, 2018, the liability for income taxes associated with unrecognized tax benefits was $9.5 million, of which $8.4 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 March 31, 2019, the total interest and penalties accrued was approximately $1.0 million. As of December 31, 2018, the total interest and penalties accrued was approximately was $0.9 million. At this time, the Company believes it is reasonably possible that unrecognized tax benefits of approximately $6.2 million may change within the next 12 months due to the expiration of statutory review periods and current examinations.

Earnings Per Share

3 Months Ended

Mar. 31, 2019

Earnings Per Share [Abstract]

Earnings Per Share

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 March 31,
In thousands, except per share data	2019			2018
Numerator
Numerator for basic and diluted earnings per common share - net income attributable
to Wabtec shareholders	$	(4,472	)	$	88,366
Less: dividends declared - common shares and non-vested restricted stock	(11,687		)	(11,531		)
Undistributed earnings	(16,159		)	76,835
Percentage allocated to common shareholders (1)	99.7		%	99.7		%
	(16,111		)	76,604
Add: dividends declared - common shares	11,646			11,497
Numerator for basic and diluted earnings per common share	$	(4,465	)	$	88,101
Denominator
Denominator for basic earnings per common share - weighted average shares	121,226			95,810
Effect of dilutive securities:
Assumed conversion of dilutive stock-based compensation plans	—			561
Denominator for diluted earnings per common share -
adjusted weighted average shares and assumed conversion	121,226			96,371
Net income attributable to Wabtec shareholders per common share
Basic	$	(0.04	)	$	0.92
Diluted	$	(0.04	)	$	0.92



(1) Basic weighted-average common shares outstanding	121,226		95,810
Basic weighted-average common shares outstanding and non-vested restricted stock expected to vest	121,565		96,091
Percentage allocated to common shareholders	99.7	%	99.7	%

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.

For the three months ended March 31, 2019, basic weighted average shares outstanding and diluted shares outstanding were the same because the effect of assumed conversion of preferred shares and assumed conversion of shares related to stock-based compensation plans were anti-dilutive since the Company generated a net loss.

Warranties

3 Months Ended

Mar. 31, 2019

Product Warranties Disclosures [Abstract]

Warranties

WARRANTIES

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



In thousands	2019			2018
Balance at beginning of year	$	153,702		$	153,063
Acquisitions	89,919			1,975
Warranty expense	34,627			11,677
Warranty claim payments	(27,841		)	(11,282		)
Foreign currency impact/other	(1,092		)	2,138
Balance at March 31	$	249,315		$	157,571

Derivative Financial Instruments and Hedging

3 Months Ended

Mar. 31, 2019

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Derivative Financial Instruments and Hedging

DERIVATIVE FINANCIAL INSTRUMENTS AND HEDGING

Foreign Currency Hedging The Company uses forward contracts to mitigate its foreign currency exchange rate exposure due to forecasted sales of finished goods and future settlement of foreign currency denominated assets and liabilities. Derivatives used to hedge forecasted transactions and specific cash flows associated with foreign currency denominated financial assets and liabilities that meet the criteria for hedge accounting are designated as cash flow hedges. The effective portion of gain and losses is deferred as a component of accumulated other comprehensive income and is recognized in earnings at the time the hedged item affects earnings, in the same line item as the underlying hedged item. The contracts are scheduled to mature within two years. For the three months ended March 31, 2019 and March 31, 2018, the amounts reclassified into income were not material.

Other Activities The Company enters into certain derivative contracts in accordance with its risk management strategy that do not meet the criteria for hedge accounting but which have the impact of largely mitigating foreign currency exposure. These foreign exchange contracts are accounted for on a full mark to market basis through earnings, with gains and losses recorded as a component of other expense, net. The net unrealized loss related to these contracts was $3.0 million for the three months ended March 31, 2019. These contracts are scheduled to mature within one year.

The following table summarizes the gross notional amounts and fair values of the designated and non-designated hedges discussed in the above sections as of March 31, 2019.



In millions	Designated		Non-Designated			Total
Gross notional amount	$	1,727.0	$	524.0		$	2,251.0

Fair Value:
Other current assets	$	4.3	$	—		$	4.3
Other current liabilities	—		(3.3		)	(3.3		)
Total	$	4.3	$	(3.3	)	$	1.0

The following table summarizes the gross notional amounts and fair values of the designated and non-designated hedges discussed in the above sections as of December 31, 2018.



In millions	Designated			Non-Designated		Total
Gross notional amount	$	863.0		$	834.0	$	1,697.0

Fair Value:
Other current assets	$	—		$	1.3	$	1.3
Other current liabilities	(2.3		)	—		(2.3		)
Total	$	(2.3	)	$	1.3	$	(1.0	)

Interest Rate Hedging The Company has historically used interest rate swaps to manage interest rate exposures. The Company is exposed to interest rate volatility with regard to existing floating rate debt. Primary exposure includes the London Interbank Offered Rates (LIBOR). Derivatives used to hedge risk associated with changes in the fair value of certain variable-rate debt were primarily designated as fair value hedges. Consequently, changes in the fair value of these derivatives, along with changes in the fair value of debt obligations were recognized in current period earnings. Refer to footnote 15 for further information on interest rate swaps.

Fair Value Measurement and Fair Value of Financial Instruments

3 Months Ended

Mar. 31, 2019

Fair Value Disclosures [Abstract]

Fair Value Measurement and Fair Value of Financial Instruments

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.

To reduce the impact of interest rate changes on a portion of its variable-rate debt, the Company historically 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 mitigates 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 March 31, 2019 and December 31, 2018. 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 and 2016 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:



	March 31, 2019		December 31, 2018
In thousands	Carrying Value	Fair Value	Carrying Value	Fair Value
4.375% Senior Notes	248,888	250,108	248,823	254,218
3.45% Senior Notes	748,339	698,258	748,282	675,075
Floating Rate Notes 2021	497,096	500,495	496,796	497,425
4.15% Senior Notes	743,298	762,870	742,957	729,350
4.7% Senior Notes	1,239,924	1,267,750	1,239,657	1,179,625

The fair value of the Company’s interest rate swap agreements and the 2013 and 2016 Notes were based on dealer quotes and represent the estimated amount the Company would pay to the counterparty to terminate the agreement.

Commitments and Contingencies	3 Months Ended
Commitments and Contingencies	Mar. 31, 2019
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	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, 2018, in Note 21 therein, filed on February 27, 2019. During the first three months of 2019, there were no material changes to the information described in the Form 10-K related to claims arising from asbestos exposure. From time to time, the Company is involved in litigation related to claims arising out of the Company's 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, 2018, in Note 21 therein, filed on February 27, 2019. Except as described below, there have been no material changes to the information described in the Form 10-K related to claims arising from Company's ordinary operations. On April 21, 2016, Siemens Industry, Inc. filed a lawsuit against the Company in federal district court in Delaware alleging that the Company has infringed seven patents owned by Siemens related to the Company's Positive Train Control (PTC) technology. On November 2, 2016, Siemens amended its complaint to add six additional patents they also claim are infringed by the Company's PTC Products or End of Train (EOT) Products (Siemen Patent Case). The Company has filed Answers, and asserted counterclaims, in response to Siemens’ complaints. Additionally, after filings by the Company, the US Patent & Trademark Office’s Patent Trail and Appeal Board (PTAB) has granted Inter-Parties Review (IPR) proceedings on eight (8) of the patents asserted by Siemens to contest their validity. Following pre-trial rulings that greatly reduced Siemens’ alleged damages, a jury trial was held in federal district court in Delaware in January 2019 on eight patents, two of which were still subject to an IPR decision on validity from the PTAB. At the conclusion of the trial, the jury awarded Siemens damages of $5.6 million related to PTC patents and $1.1 million related to EOT patents. Since the jury’s verdict was issued, one of the PTC patents found to be infringed was held to be invalid by the PTAB. All PTAB proceedings have been now been completed, pending appeals; five (5) of the (8) Siemens patents reviewed by the PTAB were found to be invalid. On February 26, 2019, the Court entered a Judgment on the verdict, subject to post-trial motions. Both parties have since filed post-trial motions, potentially affecting the Judgment, and a hearing is scheduled for May 28, 2019. Following the hearing, a final Judgment will be entered, and either party may file appeals to the Federal Circuit. On March 20, 2019, Siemens filed a new action in federal district court in Delaware alleging violations of federal antitrust and state trade practices laws since before 2008, related to Wabtec’s PTC sales, including on-board, back-office, wayside and aftermarket support systems (Siemens originally raised these antitrust claims as counterclaims in a separate DE patent case filed by Wabtec alleging that Siemens has violated three (3) of Wabtec’s patents; the antitrust claims were ultimately severed from that case in January, 2019, resulting in Siemens re-filing them as another separate proceeding in DE.) Wabtec believes Siemens’ antitrust claims are without merit and will vigorously defend itself against these claims. Xorail, Inc., a wholly owned subsidiary of the Company (“Xorail”), has received notices from Denver Transit Constructors (“DTC”) alleging breach of contract related to the operating of constant warning wireless crossings, and late delivery of the Train Management & Dispatch System (“TMDS”) for the Denver Eagle P3 Project, which is owned by the Denver Regional Transit District ("RTD"). No damages have been asserted for the alleged late delivery of the TMDS, and no formal claim has been filed. Xorail is in the final stages of successfully implementing a recovery plan concerning the TMDS issues. With regard to the wireless crossing issue, as of September 8, 2017, DTC alleged that total damages were $36.8 million through July 31, 2017 and are continuing to accumulate. The majority of the damages stems from a delay in approval of the wireless crossing system by the Federal Railway Administration ("FRA") and the Public Utility Commission ("PUC"), resulting in the use of flaggers at all of the crossings pending approval of the wireless crossing system and certification of the crossings. DTC has alleged that the delay is due to Xorail's failure to achieve constant warning times for the crossings in accordance with the approval requirements imposed by the FRA and PUC. Xorail has denied DTC's assertions, stating that its system satisfied the contractual requirements. Xorail has worked with DTC to modify its system an implement the FRA's and PUC's previously undefined approval requirements; the FRA and PUC have both approved modified wireless crossing system, and as of August 2018, DTC completed the process of certifying the crossings and eliminated the use of flaggers. On September 21, 2018, DTC filed a complaint against RTD in Colorado state court for breach of contract related to non-payments and the costs for the flaggers, asserting a change-in-law arising from the FRA/PUC’s new certification requirements; a jury trial is scheduled to begin on May 18, 2019. DTC’s complaint generally supports Xorail’s position and does not name or implicate Xorail; DTC has not updated its notices against Xorail, nor have they filed any formal claim against Xorail.

Segment Information

3 Months Ended

Mar. 31, 2019

Segment Reporting [Abstract]

Segment Information

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, 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 regional trains, high speed trains, subway cars, light-rail vehicles and buses, builds new commuter locomotives, refurbishes subway cars, provides heating, ventilation, and air conditioning equipment, and doors for buses and subways. 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. Intersegment sales are accounted for at prices that are generally established by reference to similar transactions with unaffiliated customers. 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 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 March 31, 2019 is as follows:



In thousands	Freight Segment		Transit Segment		Corporate Activities and Elimination			Total
Sales to external customers	$	876,434	$	717,183	$	—		$	1,593,617
Intersegment sales/(elimination)	16,704		6,122		(22,826		)	—
Total sales	$	893,138	$	723,305	$	(22,826	)	$	1,593,617
Income (loss) from operations	$	75,210	$	58,933	$	(66,836	)	$	67,307
Interest expense and other, net	—		—		(52,797		)	(52,797		)
Income (loss) from operations before income taxes	$	75,210	$	58,933	$	(119,633	)	$	14,510

Segment financial information for the three months ended March 31, 2018 is as follows:



In thousands	Freight Segment		Transit Segment		Corporate Activities and Elimination			Total
Sales to external customers	$	379,554	$	676,623	$	—		$	1,056,177
Intersegment sales/(elimination)	12,002		3,889		(15,891		)	—
Total sales	$	391,556	$	680,512	$	(15,891	)	$	1,056,177
Income (loss) from operations	$	69,623	$	68,083	$	(6,427	)	$	131,279
Interest expense and other, net	—		—		(17,698		)	(17,698		)
Income (loss) from operations before income taxes	$	69,623	$	68,083	$	(24,125	)	$	113,581

Sales by product line are as follows:



	Three Months Ended March 31,
In thousands	2019		2018
Remanufacturing, Overhaul & Build	$	582,177	$	135,713
Specialty Products & Electronics	418,114		386,548
Transit Products	294,817		274,265
Brake Products	242,222		215,618
Other	56,287		44,033
Total sales	$	1,593,617	$	1,056,177

Guarantor Subsidiaries Financial Information

3 Months Ended

Mar. 31, 2019

Condensed Financial Information Disclosure [Abstract]

Guarantor Subsidiaries Financial Information

GUARANTOR SUBSIDIARIES FINANCIAL INFORMATION

The obligations under the Company's 2016 Notes, 2013 Notes and Revolving Credit Facility and Term Loan are fully and unconditionally guaranteed by all U.S. subsidiaries as guarantors. Each guarantor is 100% owned by the parent company. In accordance with positions established by the Securities and Exchange Commission, the following shows separate financial information with respect to the parent, the guarantor subsidiaries and the non-guarantor subsidiaries. The principal elimination entries eliminate investment in subsidiaries and certain intercompany balances and transactions.

Balance Sheet for March 31, 2019:



In thousands	Parent		Guarantors			Non-Guarantors			Elimination			Consolidated
Cash and cash equivalents	$	5,288	$	(38	)	$	507,620		$	—		$	512,870
Receivables, net	137,358		69,745			1,519,721			—			1,726,824
Inventories	139,550		62,766			1,744,904			—			1,947,220
Current assets - other	11,335		920			181,968			—			194,223
Total current assets	293,531		133,393			3,954,213			—			4,381,137
Property, plant and equipment, net	54,641		25,550			1,554,775			—			1,634,966
Goodwill	503,700		283,241			7,355,532			—			8,142,473
Investment in subsidiaries	16,575,061		5,258,593			—			(21,833,654		)	—
Other intangibles, net	28,924		77,924			4,257,173			—			4,364,021
Other long-term assets	26,262		6,772			522,274			—			555,308
Total assets	$	17,482,119	$	5,785,473		$	17,643,967		$	(21,833,654	)	$	19,077,905
Current liabilities	$	467,702	$	84,137		$	2,702,596		$	—		$	3,254,435
Inter-company	2,557,628		(1,458,674		)	(1,098,954		)	—			—
Long-term debt	4,387,180		—			254,106			—			4,641,286
Long-term liabilities - other	381,763		54,560			965,415			—			1,401,738
Total liabilities	7,794,273		(1,319,977		)	2,823,163			—			9,297,459
Shareholders' equity	9,672,846		7,105,450			14,743,204			(21,833,654		)	9,687,846
Non-controlling interest	15,000		—			77,600			—			92,600
Total shareholders' equity	$	9,687,846	$	7,105,450		$	14,820,804		$	(21,833,654	)	$	9,780,446
Total Liabilities and Shareholders' Equity	$	17,482,119	$	5,785,473		$	17,643,967		$	(21,833,654	)	$	19,077,905

Balance Sheet for December 31, 2018:



In thousands	Parent		Guarantors			Non-Guarantors			Elimination			Consolidated
Cash and cash equivalents	$	1,782,682	$	(119	)	$	559,791		$	—		$	2,342,354
Receivables, net	106,815		61,513			978,450			—			1,146,778
Inventories	149,622		69,116			626,148			—			844,886
Current assets - other	11,884		690			103,075			—			115,649
Total current assets	2,051,003		131,200			2,267,464			—			4,449,667
Property, plant and equipment, net	51,551		24,755			487,431			—			563,737
Goodwill	25,275		283,241			2,088,028			—			2,396,544
Investment in subsidiaries	6,707,979		4,022,107			—			(10,730,086		)	—
Other intangibles, net	29,254		78,547			1,022,079			—			1,129,880
Other long-term assets	8,775		149			100,482			—			109,406
Total assets	$	8,873,837	$	4,539,999		$	5,965,484		$	(10,730,086	)	$	8,649,234
Current liabilities	$	264,630	$	91,004		$	1,291,056		$	—		$	1,646,690
Inter-company	1,947,504		(1,436,222		)	(511,282		)	—			—
Long-term debt	3,779,627		—			13,147			—			3,792,774
Long-term liabilities - other	16,945		48,714			275,036			—			340,695
Total liabilities	6,008,706		(1,296,504		)	1,067,957			—			5,780,159
Shareholders' equity	2,865,131		5,836,503			4,893,583			(10,730,086		)	2,865,131
Non-controlling interest	—		—			3,944			—			3,944
Total shareholders' equity	$	2,865,131	$	5,836,503		$	4,897,527		$	(10,730,086	)	$	2,869,075
Total Liabilities and Shareholders' Equity	$	8,873,837	$	4,539,999		$	5,965,484		$	(10,730,086	)	$	8,649,234

Income Statement for the Three Months Ended March 31, 2019:



In thousands	Parent			Guarantors			Non-Guarantors			Elimination			Consolidated
Net Sales	$	193,066		$	128,803		$	1,327,249		$	(55,501	)	$	1,593,617
Cost of sales	(157,650		)	(82,015		)	(998,019		)	33,084			(1,204,600		)
Gross profit	35,416			46,788			329,230			(22,417		)	389,017
Total operating expenses	(97,540		)	(15,321		)	(208,849		)	—			(321,710		)
Income from operations	(62,124		)	31,467			120,381			(22,417		)	67,307
Interest (expense) income, net	(41,646		)	3,478			(6,401		)	—			(44,569		)
Other income (expense), net	20,333			(2,485		)	(26,076		)	—			(8,228		)
Equity earnings	91,482			79,759			—			(171,241		)	—
Pretax income	8,045			112,219			87,904			(193,658		)	14,510
Income tax (expense) benefit	(12,517		)	—			(6,006		)	—			(18,523		)
Net income	(4,472		)	112,219			81,898			(193,658		)	(4,013		)
Less: Net income attributable to noncontrolling interest	—			—			(459		)	—			(459		)
Net income attributable to Wabtec shareholders	$	(4,472	)	$	112,219		$	81,439		$	(193,658	)	$	(4,472	)

Comprehensive income attributable to Wabtec shareholders	$	(4,472	)	$	112,219		$	29,022		$	(193,658	)	$	(56,889	)

Income Statement for the Three Months Ended March 31, 2018:



In thousands	Parent			Guarantors			Non-Guarantors			Elimination			Consolidated
Net Sales	$	161,301		$	301,706		$	641,663		$	(48,493	)	$	1,056,177
Cost of sales	(118,658		)	(179,090		)	(488,233		)	40,685			(745,296		)
Gross profit	42,643			122,616			153,430			(7,808		)	310,881
Total operating expenses	(35,627		)	(37,327		)	(106,648		)	—			(179,602		)
Income from operations	7,016			85,289			46,782			(7,808		)	131,279
Interest (expense) income, net	(20,394		)	2,301			(2,191		)	—			(20,284		)
Other income (expense), net	8,729			(2,469		)	(3,674		)	—			2,586
Equity earnings	106,698			28,720			—			(135,418		)	—
Pretax income	102,049			113,841			40,917			(143,226		)	113,581
Income tax expense	(13,682		)	1,194			(13,636		)	—			(26,124		)
Net income	88,367			115,035			27,281			(143,226		)	87,457
Less: Net income attributable to noncontrolling interest	—			215			694			—			909
Net income attributable to Wabtec shareholders	$	88,367		$	115,250		$	27,975		$	(143,226	)	$	88,366

Comprehensive income attributable to Wabtec shareholders	$	88,649		$	115,250		$	106,701		$	(143,226	)	$	167,374

Condensed Statement of Cash Flows for the Three Months Ended March 31, 2019:



In thousands	Parent			Guarantors			Non-Guarantors			Elimination			Consolidated
Net cash (used for) provided by operating activities	$	(118,411	)	$	24,140		$	148,026		$	(22,417	)	$	31,338
Net cash provided by (used for) investing activities	6,898,021			(1,601		)	(9,636,068		)	—			(2,739,648		)
Net cash (used for) provided by financing activities	(8,557,004		)	(22,458		)	9,440,035			22,417			882,990
Effect of changes in currency exchange rates	—			—			(4,164		)	—			(4,164		)
(Decrease) increase in cash	(1,777,394		)	81			(52,171		)	—			(1,829,484		)
Cash, cash equivalents, and restricted cash beginning of period	1,782,682			(119		)	559,791			—			2,342,354
Cash and cash equivalents, end of period	$	5,288		$	(38	)	$	507,620		$	—		$	512,870

Condensed Statement of Cash Flows for the Three Months Ended March 31, 2018:



In thousands	Parent			Guarantors			Non-Guarantors			Elimination			Consolidated
Net cash (used for) provided by operating activities	$	(9,439	)	$	50,789		$	(9,342	)	$	(7,808	)	$	24,200
Net cash (used for) provided by investing activities	(1,759		)	(3,693		)	(38,413		)	—			(43,865		)
Net cash provided by (used for) financing activities	22,973			(49,808		)	47,695			7,808			28,668
Effect of changes in currency exchange rates	—			—			7,482			—			7,482
Increase (decrease) in cash	11,775			(2,712		)	7,422			—			16,485
Cash, cash equivalents and restricted cash, beginning of period	933			4,802			227,666			—			233,401
Cash and cash equivalents, end of period	$	12,708		$	2,090		$	235,088		$	—		$	249,886

Other Income (Expense), Net

3 Months Ended

Mar. 31, 2019

Other Income and Expenses [Abstract]

Other Income (Expense), Net

OTHER INCOME (EXPENSE), NET

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



	Three Months Ended March 31,
In thousands	2019			2018
Foreign currency (loss) gain	$	(12,682	)	$	(1,032	)
Equity income	929			629
Expected return on pension assets/amortization	3,376			3,023
Other miscellaneous expense (income)	149			(34		)
Total other (expense) income, net	$	(8,228	)	$	2,586

Accounting Policies (Policies)	3 Months Ended
Accounting Policies (Policies)	Mar. 31, 2019
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The unaudited condensed consolidated interim financial statements have been prepared in accordance with generally accepted accounting principles ("GAAP") in the United States of America and the rules and regulations of the Securities and Exchange Commission and include the accounts of Wabtec and its subsidiaries in which Wabtec has a controlling interest. 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, 2018. The December 31, 2018 information has been derived from the Company’s Annual Report on Form 10-K for the year ended December 31, 2018.
Revenue Recognition	Revenue Recognition On January 1, 2018, the Company adopted ASC 606 “Revenue from Contracts with Customers”. This new guidance provides a five-step analysis of transactions to determine when and how revenue is recognized, and requires entities to recognize revenue at an amount that reflects the consideration to which the Company expects to be entitled in exchange for transferring goods or services to a customer. Approximately 75% of the Company’s revenues are derived from performance obligations that are satisfied at a point in time when control passes to the customer. The remaining revenues are earned over time. Generally, for performance obligations satisfied at a point in time control passes at the time of shipment in accordance with agreed upon delivery terms. The Company also has long-term customer agreements involving the design and production of highly engineered products that require revenue to be recognized over time because these products have no alternative use without significant economic loss and the agreements contain an enforceable right to payment including a reasonable profit margin from the customer in the event of contract termination. Additionally, the Company has customer agreements involving the creation or enhancement of an asset that the customer controls which also require revenue to be recognized over time. Generally, the Company uses an input method for determining the amount of revenue, cost and gross margin to recognize over time for these customer agreements. The input methods used for these agreements include costs of material and labor, both of which give an accurate representation of the progress made toward complete satisfaction of a particular performance obligation. Contract revenues and cost estimates are reviewed and revised quarterly at a minimum and adjustments are reflected in the accounting period as such amounts are determined. Contract assets include unbilled amounts resulting from sales under long-term contracts where revenue is recognized over time and revenue exceeds the amount that can be billed to the customer based on the terms of the contract. The current portion of the contract assets are classified as current assets under the caption “Unbilled Accounts Receivable” while the noncurrent contract assets are classified as other assets under the caption "Other Noncurrent Assets" on the consolidated balance sheet. Noncurrent contract assets were $119.2 million at March 31, 2019 and were not material at December 31, 2018, respectively. Included in noncurrent contract assets are certain costs that are specifically related to a contract, however, do not directly contribute to the transfer of control of the tangible product being created, such as non-recurring engineering costs. The Company has elected to use the practical expedient and not consider unbilled amounts anticipated to be paid within one year as significant financing components. Contract liabilities include customer deposits that are made prior to the incurrence of costs related to a newly agreed upon contract and advanced customer payments that are in excess of revenue recognized. The current portion of contract liabilities are classified as current liabilities under the caption “Customer Deposits” while the noncurrent contract liabilities are classified as noncurrent liabilities under the caption "Other Long-Term Liabilities" on the consolidated balance sheet. Noncurrent contract liabilities were $58.1 million at March 31, 2019 and were not material at December 31, 2018. These contract liabilities are not considered a significant financing component because they are used to meet working capital demands that can be higher in the early stages of a contract or revenue associated with the contract liabilities is expected to be recognized within one year. Contract liabilities also include provisions for estimated losses from uncompleted contracts. Provisions for loss contracts were $81.5 million and $71.2 million at March 31, 2019 and December 31, 2018, respectively. These provisions for estimated losses are classified as current liabilities and included within the caption “Other accrued liabilities” on the consolidated balance sheet. Due to the nature of work required to be performed on the Company’s long-term projects, the estimation of total revenue and cost at completion is subject to many variables and requires significant judgment. Contract estimates related to long-term projects are based on various assumptions to project the outcome of future events that could span several years. These assumptions include cost of materials; labor availability and productivity; complexity of the work to be performed; and the performance of suppliers, customers and subcontractors that may be associated with the contract. We have a disciplined quarterly estimate-at-completion process where management reviews the progress of long term-projects. As part of this process, management reviews information including key contract matters, progress towards completion, identified risks and opportunities and any other information that could impact the Company’s estimates of revenue and costs. After completing this analysis, any quarterly adjustments to net sales, cost of goods sold, and the related impact to operating income are recognized as necessary in the period they become known. Generally, the Company’s revenue contains a single performance obligation for each distinct good; however, a single contract may have multiple performance obligations comprising multiple promises to customers. Performance obligations are determined based on customer's intended use of products and services. Less complex products principally result in each completed product being a separate performance obligation recognized at a point in time. More complex products or services principally result in a single performance obligation as a customer is either procuring bundled offering that is managed or utilized on a combined basis or there are multiple complex goods or services in the contract, which are substantially the same and recognized over time. When there are multiple performance obligations, revenue is allocated based on the relative stand-alone selling price. Pricing is defined in our contracts on a line item basis and includes an estimate of variable consideration when required by the terms of the individual customer contract. Types of variable consideration the Company typically has include volume discounts, prompt payment discounts, liquidating damages, and performance bonuses. Sales returns and allowances are also estimated and recognized in the same period the related revenue is recognized, based upon the Company’s experience. Remaining performance obligations represent the transaction price of firm customer orders subject to standard industry cancellation provisions and substantial scope-of-work adjustments. As of March 31, 2019, the Company's remaining performance obligations were $22.0 billion. The Company expects to recognize revenue of approximately 27% of remaining performance obligation over the next 12 months, with the remainder recognized thereafter.
Reclassifications	Reclassifications Certain prior year amounts have been reclassified, where necessary, to conform to the current year presentation. Refer to Recently Adopted Accounting Pronouncements below.
Use of Estimates	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	Financial Derivatives and Hedging Activities As part of its risk management strategy, the Company utilizes derivative financial instruments to mitigate the impact of changes in foreign currencies and interest rates on earnings and cash flow. For further information regarding financial derivatives and hedging activities, refer to Footnotes 14 and 15.
Foreign Currency Translation	Foreign Currency Translation Certain of our international operations have determined that the local currency is the functional currency whereas others have determined the U.S. dollar is their functional currency. Assets and liabilities of foreign subsidiaries where the functional currency is the local currency 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 period. 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.
Noncontrolling Interests	Noncontrolling Interests In accordance with ASC 810 "Consolidation", the Company has classified noncontrolling interests as equity on the condensed consolidated balance sheets as of March 31, 2019 and December 31, 2018.
Recently Issued Accounting Pronouncements	Recently Issued Accounting Pronouncements In January 2017, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") No. 2017-04, "Intangibles - Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment". The amendments in this update eliminate the requirement to perform Step 2 of the goodwill impairment test. Instead, an entity should perform a goodwill impairment test by comparing the fair value of a reporting unit with its carrying amount and recognize an impairment charge for the amount by which the carrying amount exceeds the reporting unit's fair value up to the carrying amount of the goodwill. The ASU is effective for public companies in the fiscal years beginning after December 15, 2019, and interim periods within those fiscal years. Early adoption is permitted. The impact of adopting this guidance could result in a change in the overall conclusion as to whether or not a reporting unit's goodwill is impaired and the amount of an impairment charge recognized in the event a reporting units' carrying value exceeds its fair value. All of the Company's reporting units had fair values that were substantially greater than the carrying value as of the Company's last quantitative goodwill impairment test, which was performed as of October 1, 2018. Recently Adopted Accounting Pronouncements In February 2018, FASB issued ASU No. 2018-02, "Income Statement - Reporting Comprehensive Income (Topic 220): Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income". The amendments in this update address certain stranded income tax effects in accumulated other comprehensive income ("AOCI") resulting from the Tax Cuts and Jobs Act (the "Tax Act"). Current guidance requires the effect of a change in tax laws or rates on deferred tax balances to be reported in income from continuing operations in the accounting period that includes the period of enactment, even if the related income tax effects were originally charged or credited directly to AOCI. The amendments in this update allow a reclassification from accumulated other comprehensive income to retained earnings for stranded effects resulting from the Tax Act. The amount of the reclassification would include the effect of the change in the U.S. federal corporate income tax rate on the gross deferred tax amounts and related valuation allowances, if any, at the date of the enactment of the Tax Act related to items in AOCI. The updated guidance became effective for reporting periods beginning after December 15, 2018. The Company adopted this accounting standard at the beginning of the period and elected to not retrospectively apply the new standard. The impact of adopting the new standard was not material to the consolidated statement of income or the consolidated balance sheet. In February 2016, FASB issued ASU No. 2016-02, "Leases (Topic 814)" which requires lessees to recognize a right of use asset and lease liability on the balance sheet for all leases with terms longer than 12 months. For leases with terms less than 12 months, a lessee is permitted to make an accounting policy election by class of underlying asset not to recognize a right of use asset and lease liability. This guidance became effective for the Company on January 1, 2019. The Company elected the practical expedient which does not require the capitalization of leases with terms of 12 months or less. And the Company did not elect the practical expedient which allows hindsight to be used to determine the term of a lease. The Company adopted the standard using the transition alternative, which allowed for the application of the guidance at beginning of the period in which it is adopted, rather than requiring the adjustment of prior comparative periods. For further information regarding the Company's adoption of the new standard, see Footnote 7.
Other Comprehensive Income	Other Comprehensive Income (Loss) Comprehensive income comprises both net income and the change in equity from transactions and other events and circumstances from nonowner sources.

Accounting Policies (Tables)

3 Months Ended

Mar. 31, 2019

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 three months ended March 31, 2018 are as follows:



	Foreign currency translation		Derivative contracts		Pension and post retirement benefit plans			Total
Balance at December 31, 2017	$	5,063	$	4,015	$	(54,070	)	$	(44,992	)
Other comprehensive income (loss) before reclassifications	77,967		920		(847		)	78,040
Amounts reclassified from accumulated other
comprehensive income	—		448		520			968
Net current period other comprehensive income (loss)	77,967		1,368		(327		)	79,008
Balance at March 31, 2018	$	83,030	$	5,383	$	(54,397	)	$	34,016

The changes in accumulated other comprehensive income (loss) by component, net of tax, for the three months ended March 31, 2019 are as follows:



In thousands	Foreign currency translation			Derivative contracts			Pension and post retirement benefit plans			Total
Balance at December 31, 2018	$	(202,204	)	$	(53	)	$	(54,326	)	$	(256,583	)
Other comprehensive income (loss) before reclassifications	(46,553		)	(3,111		)	(3,305		)	(52,969		)
Amounts reclassified from accumulated other
comprehensive income	—			—			552			552
Net current period other comprehensive income (loss)	(46,553		)	(3,111		)	(2,753		)	(52,417		)
Balance at March 31, 2019	$	(248,757	)	$	(3,164	)	$	(57,079	)	$	(309,000	)

The changes in accumulated other comprehensive income (loss) by component, net of tax, for the three months ended March 31, 2019 are as follows:



In thousands	Foreign currency translation			Derivative contracts			Pension and post retirement benefit plans			Total
Balance at December 31, 2018	$	(202,204	)	$	(53	)	$	(54,326	)	$	(256,583	)
Other comprehensive income (loss) before reclassifications	(46,553		)	(3,111		)	(3,305		)	(52,969		)
Amounts reclassified from accumulated other
comprehensive income	—			—			552			552
Net current period other comprehensive income (loss)	(46,553		)	(3,111		)	(2,753		)	(52,417		)
Balance at March 31, 2019	$	(248,757	)	$	(3,164	)	$	(57,079	)	$	(309,000	)

Reclassifications Out of Accumulated Other Comprehensive Loss

Reclassifications out of accumulated other comprehensive loss for the three months ended March 31, 2018 are as follows:



In thousands	Amount reclassified from accumulated other comprehensive income			Affected line item in the Condensed Consolidated Statements of Operations
Amortization of defined pension and post retirement items
Amortization of initial net obligation and prior service cost	$	(375	)	Other income (expense), net
Amortization of net loss	1,093			Other income (expense), net
	718			Other income (expense), net
	(198		)	Income tax expense
	$	520		Net income

Derivative contracts
Realized loss on derivative contracts	$	679		Interest expense, net
	(231		)	Income tax expense
	$	448		Net income

Reclassifications out of accumulated other comprehensive income (loss) for the three months ended March 31, 2019 are as follows:



In thousands	Amount reclassified from accumulated other comprehensive income			Affected line item in the Condensed Consolidated Statements of Income
Amortization of defined pension and post retirement items
Amortization of initial net obligation and prior service cost	$	(366	)	Other income (expense), net
Amortization of net loss	1,092			Other income (expense), net
	726			Other income (expense), net
	(174		)	Income tax expense
	$	552		Net income

Derivative contracts
Realized loss on derivative contracts	$	—		Interest expense, net
	—			Income tax expense
	$	—		Net income

Acquisitions (Tables)

3 Months Ended

Mar. 31, 2019

Business Combinations [Abstract]

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

The following table summarizes the final fair values of the assets acquired and liabilities assumed at the date of the acquisition for Annax.



	Annax
In thousands	March 22, 2018
Current assets	$	32,831
Property, plant & equipment	674
Goodwill	27,188
Other intangible assets	11,715
Total assets acquired	72,408
Total liabilities assumed	(43,741		)
Net assets acquired	$	28,667

The following table summarizes the preliminary fair values of the GET assets acquired and liabilities assumed:



In thousands
Assets acquired
Cash and cash equivalents	$	174,334
Accounts receivable	530,054
Inventories	1,179,439
Other current assets	64,464
Property, plant, and equipment	1,071,402
Goodwill	5,783,358
Trade names	50,000
Customer relationships	529,984
Intellectual property	1,219,968
Backlog	1,480,000
Other noncurrent assets	234,823
Total assets acquired	12,317,826
Liabilities assumed
Current liabilities	1,495,438
Contingent consideration	440,000
Other noncurrent liabilities	523,801
Total liabilities assumed	2,459,239
Net assets acquired	9,858,587
Noncontrolling interest	$	86,765

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, 2018:



In thousands	Three Months Ended March 31, 2019			Three Months Ended March 31, 2018
Net sales	$	2,079,771		$	1,881,724
Gross profit	543,480			553,681
Net income attributable to Wabtec shareholders	83,277			77,275
Diluted earnings per share
As Reported	$	(0.04	)	$	0.92
Pro forma	$	0.44		$	0.41

Inventories (Tables)

3 Months Ended

Mar. 31, 2019

Inventory Disclosure [Abstract]

Components of Inventory, Net of Reserves

The components of inventory, net of reserves, were:



In thousands	March 31, 2019		December 31, 2018
Raw materials	$	822,178	$	465,873
Work-in-progress	435,565		154,485
Finished goods	689,477		224,528
Total inventories	$	1,947,220	$	844,886

Intangibles (Tables)

3 Months Ended

Mar. 31, 2019

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 three months ended March 31, 2019 is as follows:



In thousands	Freight Segment			Transit Segment			Total
Balance at December 31, 2018	$	713,391		$	1,683,153		$	2,396,544
Additions	5,783,358			—			5,783,358
Foreign currency impact	(15,315		)	(22,114		)	(37,429		)
Balance at March 31, 2019	$	6,481,434		$	1,661,039		$	8,142,473

Intangible Assets of the Company, Other Than Goodwill and Trade Names

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



In thousands	March 31, 2019		December 31, 2018
Intellectual property, patents, non-compete and other intangibles, net of accumulated
amortization of $51,127 and $42,446	$	2,697,919	$	15,328
Customer relationships, net of accumulated amortization
of $168,774 and $158,533	1,041,551		531,761
Total	$	3,739,470	$	547,089

Amortization Expense

Amortization expense for the five succeeding years is estimated to be as follows:



Remainder of 2019	$	191,746
2020	254,053
2021	253,908
2022	253,596
2023	253,258

Contract Assets and Contract Liabilities (Tables)

3 Months Ended

Mar. 31, 2019

Revenue from Contract with Customer [Abstract]

Schedule of Change in Carrying Amount of Contract Assets and Contract Liabilities

The change in the carrying amount of contract assets and contract liabilities for the three months ended March 31, 2019 is as follows:



In thousands	Contract Assets
Balance at beginning of year	$	345,585
Acquisitions	238,665
Recognized in current year	188,299
Reclassified to accounts receivable	(196,973		)
Foreign currency impact	(756		)
Balance at March 31, 2019	$	574,820

In thousands	Contract Liabilities
Balance at beginning of year	$	444,805
Acquisitions	274,054
Recognized in current year	205,272
Amounts in beginning balance reclassified to revenue	(204,388		)
Current year amounts reclassified to revenue	(6,421		)
Foreign currency impact	(424		)
Balance at March 31, 2019	$	712,898

Leases (Tables)

3 Months Ended

Mar. 31, 2019

Leases [Abstract]

Lease Expense, Term and Discount Rate

Lease Expense for the quarter is as follows:



	Three Months Ended March 31,
(in thousands)	2019
Operating Lease Expense	$	13,397
Finance Lease Expense
Amortization of Leased Assets	271
Interest on Lease Liabilities	4
Short-term and Variable Lease Expense	105
Sublease Income	(138		)
Total	$	13,639

Lease Term and Discount Rate:



	Three Months Ended March 31,
	2019
Weighted-average remaining lease term (years)
Operating Leases	8.44
Finance Leases	5.68
Weighted-average discount rate
Operating Leases	3.00	%
Finance Leases	1.19	%

Maturity of Finance Lease Liabilities

Maturity of Lease Liabilities:



(in thousands)	Operating Leases			Finance Leases			Total
Remaining 2019	$	38,094		$	278		$	38,372
2020	44,455			377			44,832
2021	36,350			180			36,530
2022	29,824			121			29,945
2023	25,377			121			25,498
Thereafter	106,069			348			106,417
Total Lease Payments	280,169			1,425			281,594
Less: Present Value Discount	(30,949		)	(5		)	(30,954		)
Present Value Lease Liabilities	$	249,220		$	1,420		$	250,640

Maturity of Operating Lease Liabilities

Maturity of Lease Liabilities:



(in thousands)	Operating Leases			Finance Leases			Total
Remaining 2019	$	38,094		$	278		$	38,372
2020	44,455			377			44,832
2021	36,350			180			36,530
2022	29,824			121			29,945
2023	25,377			121			25,498
Thereafter	106,069			348			106,417
Total Lease Payments	280,169			1,425			281,594
Less: Present Value Discount	(30,949		)	(5		)	(30,954		)
Present Value Lease Liabilities	$	249,220		$	1,420		$	250,640

Long-Term Debt (Tables)

3 Months Ended

Mar. 31, 2019

Debt Disclosure [Abstract]

Schedule of Long-term Debt

Long-term debt consisted of the following:



In thousands	March 31, 2019		December 31, 2018
Floating Senior Notes, due 2021, net of unamortized debt issuance costs of $2,904 and $3,204	$	497,096	$	496,796
4.150% Senior Notes, due 2024, net of unamortized debt issuance costs of $6,703 and $7,043	743,297		742,957
4.70% Senior Notes, due 2028, net of unamortized debt issuance costs of $10,076 and $10,343	1,239,924		1,239,657
3.45% Senior Notes, due 2026, net of unamortized debt issuance costs of $1,661 and $1,718	748,339		748,282
4.375% Senior Notes, due 2023, net of unamortized discount and debt issuance costs of $1,113 and $1,177	248,888		248,823
Revolving Credit Facility, net of unamortized debt issuance costs of $2,865 and $3,138	1,226,903		338,112
Other Borrowings	258,147		42,246
Total	4,962,594		3,856,873
Less - current portion	321,308		64,099
Long-term portion	$	4,641,286	$	3,792,774

- 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://fasb.org/us-gaap/role/ref/legacyRef
-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://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 835
-SubTopic 30
-Section 45
-Paragraph 1A
-URI http://asc.fasb.org/extlink&oid=114775744&loc=d3e28541-108399

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 6
-URI http://asc.fasb.org/extlink&oid=109259400&loc=d3e21506-112644

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-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://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 835
-SubTopic 30
-Section 45
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=114775744&loc=d3e28551-108399

Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 7
-URI http://asc.fasb.org/extlink&oid=109259400&loc=d3e21521-112644

Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 8
-URI http://asc.fasb.org/extlink&oid=109259400&loc=d3e21538-112644

Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 470
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=75038535&loc=d3e64711-112823

Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 835
-SubTopic 30
-Section 55
-Paragraph 8
-URI http://asc.fasb.org/extlink&oid=114775985&loc=d3e28878-108400

Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=109259400&loc=d3e21475-112644

+ Details

Employee Benefit Plans (Tables)

3 Months Ended

Mar. 31, 2019

Pension Plan

Defined Benefit Plan Disclosure [Line Items]

Components of Net Periodic Benefit Cost

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 March 31,						Three Months Ended March 31,
In thousands, except percentages	2019			2018			2019			2018
Net periodic benefit cost
Service cost	$	71		$	87		$	611		$	691
Interest cost	372			333			1,711			1,834
Expected return on plan assets	(433		)	(445		)	(2,927		)	(3,466		)
Net amortization/deferrals	207			243			641			554
Net periodic benefit cost (credit)	$	217		$	218		$	36		$	(387	)



Assumptions
Discount Rate	4.30	%	3.56	%	2.53	%	2.40	%
Expected long-term rate of return	5.35	%	5.15	%	5.01	%	5.10	%
Rate of compensation increase	3.00	%	3.00	%	2.60	%	2.60	%

Other Postretirement Benefit Plan

Defined Benefit Plan Disclosure [Line Items]

Components of Net Periodic Benefit Cost

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 March 31,						Three Months Ended March 31,
In thousands, except percentages	2019			2018			2019			2018
Net periodic benefit cost
Service cost	$	1		$	1		$	2		$	8
Interest cost	89			81			20			26
Net amortization/deferrals	(101		)	(76		)	(22		)	(4		)
Net periodic benefit cost	$	(11	)	$	6		$	0		$	30



Assumptions
Discount Rate	4.17	%	3.43	%	3.49	%	3.21	%

Stock-Based Compensation (Tables)

3 Months Ended

Mar. 31, 2019

Disclosure of Compensation Related Costs, Share-based 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 three months ended March 31, 2019:



	Options		Weighted Average Exercise Price		Weighted Average Remaining Contractual Life	Aggregate Intrinsic value (in thousands)
Outstanding at December 31, 2018	466,677		$	61.04	5.7	$	5,917
Granted	128,555		72.85			112
Exercised	(734	)	64.54			7
Canceled	(228	)	74.38			—
Outstanding at March 31, 2019	594,270		63.58		6.4	6,027
Exercisable at March 31, 2019	355,222		56.00		5.2	6,295

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:



	Three Months Ended March 31,
	2019		2018
Dividend yield	0.66	%	0.33	%
Risk-free interest rate	2.63	%	2.70	%
Stock price volatility	25.8	%	23.9	%
Expected life (years)	5.0		5.0

Restricted Stock Activity and Incentive Stock Awards Activity



	Restricted Stock and Units		Incentive Stock Units		Weighted Average Grant Date Fair Value
Outstanding at December 31, 2018	445,089		415,243		$	75.51
Granted	535,873		258,600		70.64
Vested	(105,651	)	(119,835	)	68.62
Adjustment for incentive stock awards expected to vest	—		18,398		81.20
Canceled	(6,733	)	(5,350	)	80.17
Outstanding at March 31, 2019	868,578		567,056		73.93

Earnings Per Share (Tables)

3 Months Ended

Mar. 31, 2019

Earnings Per Share [Abstract]

Computation of 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 March 31,
In thousands, except per share data	2019			2018
Numerator
Numerator for basic and diluted earnings per common share - net income attributable
to Wabtec shareholders	$	(4,472	)	$	88,366
Less: dividends declared - common shares and non-vested restricted stock	(11,687		)	(11,531		)
Undistributed earnings	(16,159		)	76,835
Percentage allocated to common shareholders (1)	99.7		%	99.7		%
	(16,111		)	76,604
Add: dividends declared - common shares	11,646			11,497
Numerator for basic and diluted earnings per common share	$	(4,465	)	$	88,101
Denominator
Denominator for basic earnings per common share - weighted average shares	121,226			95,810
Effect of dilutive securities:
Assumed conversion of dilutive stock-based compensation plans	—			561
Denominator for diluted earnings per common share -
adjusted weighted average shares and assumed conversion	121,226			96,371
Net income attributable to Wabtec shareholders per common share
Basic	$	(0.04	)	$	0.92
Diluted	$	(0.04	)	$	0.92



(1) Basic weighted-average common shares outstanding	121,226		95,810
Basic weighted-average common shares outstanding and non-vested restricted stock expected to vest	121,565		96,091
Percentage allocated to common shareholders	99.7	%	99.7	%

Warranties (Tables)

3 Months Ended

Mar. 31, 2019

Product Warranties Disclosures [Abstract]

Changes in Product Warranty Reserve

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



In thousands	2019			2018
Balance at beginning of year	$	153,702		$	153,063
Acquisitions	89,919			1,975
Warranty expense	34,627			11,677
Warranty claim payments	(27,841		)	(11,282		)
Foreign currency impact/other	(1,092		)	2,138
Balance at March 31	$	249,315		$	157,571

Derivative Financial Instruments and Hedging (Tables)

3 Months Ended

Mar. 31, 2019

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Summary of Notional Amounts and Fair Value

The following table summarizes the gross notional amounts and fair values of the designated and non-designated hedges discussed in the above sections as of March 31, 2019.



In millions	Designated		Non-Designated			Total
Gross notional amount	$	1,727.0	$	524.0		$	2,251.0

Fair Value:
Other current assets	$	4.3	$	—		$	4.3
Other current liabilities	—		(3.3		)	(3.3		)
Total	$	4.3	$	(3.3	)	$	1.0

The following table summarizes the gross notional amounts and fair values of the designated and non-designated hedges discussed in the above sections as of December 31, 2018.



In millions	Designated			Non-Designated		Total
Gross notional amount	$	863.0		$	834.0	$	1,697.0

Fair Value:
Other current assets	$	—		$	1.3	$	1.3
Other current liabilities	(2.3		)	—		(2.3		)
Total	$	(2.3	)	$	1.3	$	(1.0	)

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

3 Months Ended

Mar. 31, 2019

Fair Value Disclosures [Abstract]

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:



	March 31, 2019		December 31, 2018
In thousands	Carrying Value	Fair Value	Carrying Value	Fair Value
4.375% Senior Notes	248,888	250,108	248,823	254,218
3.45% Senior Notes	748,339	698,258	748,282	675,075
Floating Rate Notes 2021	497,096	500,495	496,796	497,425
4.15% Senior Notes	743,298	762,870	742,957	729,350
4.7% Senior Notes	1,239,924	1,267,750	1,239,657	1,179,625

Segment Information (Tables)

3 Months Ended

Mar. 31, 2019

Segment Reporting [Abstract]

Segment Financial Information

Segment financial information for the three months ended March 31, 2019 is as follows:



In thousands	Freight Segment		Transit Segment		Corporate Activities and Elimination			Total
Sales to external customers	$	876,434	$	717,183	$	—		$	1,593,617
Intersegment sales/(elimination)	16,704		6,122		(22,826		)	—
Total sales	$	893,138	$	723,305	$	(22,826	)	$	1,593,617
Income (loss) from operations	$	75,210	$	58,933	$	(66,836	)	$	67,307
Interest expense and other, net	—		—		(52,797		)	(52,797		)
Income (loss) from operations before income taxes	$	75,210	$	58,933	$	(119,633	)	$	14,510

Segment financial information for the three months ended March 31, 2018 is as follows:



In thousands	Freight Segment		Transit Segment		Corporate Activities and Elimination			Total
Sales to external customers	$	379,554	$	676,623	$	—		$	1,056,177
Intersegment sales/(elimination)	12,002		3,889		(15,891		)	—
Total sales	$	391,556	$	680,512	$	(15,891	)	$	1,056,177
Income (loss) from operations	$	69,623	$	68,083	$	(6,427	)	$	131,279
Interest expense and other, net	—		—		(17,698		)	(17,698		)
Income (loss) from operations before income taxes	$	69,623	$	68,083	$	(24,125	)	$	113,581

Sales by Product

Sales by product line are as follows:



	Three Months Ended March 31,
In thousands	2019		2018
Remanufacturing, Overhaul & Build	$	582,177	$	135,713
Specialty Products & Electronics	418,114		386,548
Transit Products	294,817		274,265
Brake Products	242,222		215,618
Other	56,287		44,033
Total sales	$	1,593,617	$	1,056,177

Guarantor Subsidiaries Financial Information (Tables)

3 Months Ended

Mar. 31, 2019

Condensed Financial Information Disclosure [Abstract]

Condensed Balance Sheet

Balance Sheet for March 31, 2019:



In thousands	Parent		Guarantors			Non-Guarantors			Elimination			Consolidated
Cash and cash equivalents	$	5,288	$	(38	)	$	507,620		$	—		$	512,870
Receivables, net	137,358		69,745			1,519,721			—			1,726,824
Inventories	139,550		62,766			1,744,904			—			1,947,220
Current assets - other	11,335		920			181,968			—			194,223
Total current assets	293,531		133,393			3,954,213			—			4,381,137
Property, plant and equipment, net	54,641		25,550			1,554,775			—			1,634,966
Goodwill	503,700		283,241			7,355,532			—			8,142,473
Investment in subsidiaries	16,575,061		5,258,593			—			(21,833,654		)	—
Other intangibles, net	28,924		77,924			4,257,173			—			4,364,021
Other long-term assets	26,262		6,772			522,274			—			555,308
Total assets	$	17,482,119	$	5,785,473		$	17,643,967		$	(21,833,654	)	$	19,077,905
Current liabilities	$	467,702	$	84,137		$	2,702,596		$	—		$	3,254,435
Inter-company	2,557,628		(1,458,674		)	(1,098,954		)	—			—
Long-term debt	4,387,180		—			254,106			—			4,641,286
Long-term liabilities - other	381,763		54,560			965,415			—			1,401,738
Total liabilities	7,794,273		(1,319,977		)	2,823,163			—			9,297,459
Shareholders' equity	9,672,846		7,105,450			14,743,204			(21,833,654		)	9,687,846
Non-controlling interest	15,000		—			77,600			—			92,600
Total shareholders' equity	$	9,687,846	$	7,105,450		$	14,820,804		$	(21,833,654	)	$	9,780,446
Total Liabilities and Shareholders' Equity	$	17,482,119	$	5,785,473		$	17,643,967		$	(21,833,654	)	$	19,077,905

Balance Sheet for December 31, 2018:



In thousands	Parent		Guarantors			Non-Guarantors			Elimination			Consolidated
Cash and cash equivalents	$	1,782,682	$	(119	)	$	559,791		$	—		$	2,342,354
Receivables, net	106,815		61,513			978,450			—			1,146,778
Inventories	149,622		69,116			626,148			—			844,886
Current assets - other	11,884		690			103,075			—			115,649
Total current assets	2,051,003		131,200			2,267,464			—			4,449,667
Property, plant and equipment, net	51,551		24,755			487,431			—			563,737
Goodwill	25,275		283,241			2,088,028			—			2,396,544
Investment in subsidiaries	6,707,979		4,022,107			—			(10,730,086		)	—
Other intangibles, net	29,254		78,547			1,022,079			—			1,129,880
Other long-term assets	8,775		149			100,482			—			109,406
Total assets	$	8,873,837	$	4,539,999		$	5,965,484		$	(10,730,086	)	$	8,649,234
Current liabilities	$	264,630	$	91,004		$	1,291,056		$	—		$	1,646,690
Inter-company	1,947,504		(1,436,222		)	(511,282		)	—			—
Long-term debt	3,779,627		—			13,147			—			3,792,774
Long-term liabilities - other	16,945		48,714			275,036			—			340,695
Total liabilities	6,008,706		(1,296,504		)	1,067,957			—			5,780,159
Shareholders' equity	2,865,131		5,836,503			4,893,583			(10,730,086		)	2,865,131
Non-controlling interest	—		—			3,944			—			3,944
Total shareholders' equity	$	2,865,131	$	5,836,503		$	4,897,527		$	(10,730,086	)	$	2,869,075
Total Liabilities and Shareholders' Equity	$	8,873,837	$	4,539,999		$	5,965,484		$	(10,730,086	)	$	8,649,234

Condensed Income Statement

Income Statement for the Three Months Ended March 31, 2019:



In thousands	Parent			Guarantors			Non-Guarantors			Elimination			Consolidated
Net Sales	$	193,066		$	128,803		$	1,327,249		$	(55,501	)	$	1,593,617
Cost of sales	(157,650		)	(82,015		)	(998,019		)	33,084			(1,204,600		)
Gross profit	35,416			46,788			329,230			(22,417		)	389,017
Total operating expenses	(97,540		)	(15,321		)	(208,849		)	—			(321,710		)
Income from operations	(62,124		)	31,467			120,381			(22,417		)	67,307
Interest (expense) income, net	(41,646		)	3,478			(6,401		)	—			(44,569		)
Other income (expense), net	20,333			(2,485		)	(26,076		)	—			(8,228		)
Equity earnings	91,482			79,759			—			(171,241		)	—
Pretax income	8,045			112,219			87,904			(193,658		)	14,510
Income tax (expense) benefit	(12,517		)	—			(6,006		)	—			(18,523		)
Net income	(4,472		)	112,219			81,898			(193,658		)	(4,013		)
Less: Net income attributable to noncontrolling interest	—			—			(459		)	—			(459		)
Net income attributable to Wabtec shareholders	$	(4,472	)	$	112,219		$	81,439		$	(193,658	)	$	(4,472	)

Comprehensive income attributable to Wabtec shareholders	$	(4,472	)	$	112,219		$	29,022		$	(193,658	)	$	(56,889	)

Income Statement for the Three Months Ended March 31, 2018:



In thousands	Parent			Guarantors			Non-Guarantors			Elimination			Consolidated
Net Sales	$	161,301		$	301,706		$	641,663		$	(48,493	)	$	1,056,177
Cost of sales	(118,658		)	(179,090		)	(488,233		)	40,685			(745,296		)
Gross profit	42,643			122,616			153,430			(7,808		)	310,881
Total operating expenses	(35,627		)	(37,327		)	(106,648		)	—			(179,602		)
Income from operations	7,016			85,289			46,782			(7,808		)	131,279
Interest (expense) income, net	(20,394		)	2,301			(2,191		)	—			(20,284		)
Other income (expense), net	8,729			(2,469		)	(3,674		)	—			2,586
Equity earnings	106,698			28,720			—			(135,418		)	—
Pretax income	102,049			113,841			40,917			(143,226		)	113,581
Income tax expense	(13,682		)	1,194			(13,636		)	—			(26,124		)
Net income	88,367			115,035			27,281			(143,226		)	87,457
Less: Net income attributable to noncontrolling interest	—			215			694			—			909
Net income attributable to Wabtec shareholders	$	88,367		$	115,250		$	27,975		$	(143,226	)	$	88,366

Comprehensive income attributable to Wabtec shareholders	$	88,649		$	115,250		$	106,701		$	(143,226	)	$	167,374

Condensed Cash Flow Statement

Condensed Statement of Cash Flows for the Three Months Ended March 31, 2019:



In thousands	Parent			Guarantors			Non-Guarantors			Elimination			Consolidated
Net cash (used for) provided by operating activities	$	(118,411	)	$	24,140		$	148,026		$	(22,417	)	$	31,338
Net cash provided by (used for) investing activities	6,898,021			(1,601		)	(9,636,068		)	—			(2,739,648		)
Net cash (used for) provided by financing activities	(8,557,004		)	(22,458		)	9,440,035			22,417			882,990
Effect of changes in currency exchange rates	—			—			(4,164		)	—			(4,164		)
(Decrease) increase in cash	(1,777,394		)	81			(52,171		)	—			(1,829,484		)
Cash, cash equivalents, and restricted cash beginning of period	1,782,682			(119		)	559,791			—			2,342,354
Cash and cash equivalents, end of period	$	5,288		$	(38	)	$	507,620		$	—		$	512,870

Condensed Statement of Cash Flows for the Three Months Ended March 31, 2018:



In thousands	Parent			Guarantors			Non-Guarantors			Elimination			Consolidated
Net cash (used for) provided by operating activities	$	(9,439	)	$	50,789		$	(9,342	)	$	(7,808	)	$	24,200
Net cash (used for) provided by investing activities	(1,759		)	(3,693		)	(38,413		)	—			(43,865		)
Net cash provided by (used for) financing activities	22,973			(49,808		)	47,695			7,808			28,668
Effect of changes in currency exchange rates	—			—			7,482			—			7,482
Increase (decrease) in cash	11,775			(2,712		)	7,422			—			16,485
Cash, cash equivalents and restricted cash, beginning of period	933			4,802			227,666			—			233,401
Cash and cash equivalents, end of period	$	12,708		$	2,090		$	235,088		$	—		$	249,886

Other Income (Expense), Net (Tables)

3 Months Ended

Mar. 31, 2019

Other Income and Expenses [Abstract]

Components of Other Income (Expense)

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



	Three Months Ended March 31,
In thousands	2019			2018
Foreign currency (loss) gain	$	(12,682	)	$	(1,032	)
Equity income	929			629
Expected return on pension assets/amortization	3,376			3,023
Other miscellaneous expense (income)	149			(34		)
Total other (expense) income, net	$	(8,228	)	$	2,586

Business (Detail)	3 Months Ended
Business (Detail)	Mar. 31, 2019 country
Product Information [Line Items]
Number of countries company operates	50
Sales Revenue Outside United States \| Geographic Concentration Risk \| Non-US
Product Information [Line Items]
Percent of revenue from customers outside the U.S. (as a percent)	61.00%
Minimum
Product Information [Line Items]
Number of countries where product is found (more than)	100

Accounting Policies - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Dec. 31, 2018
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Noncurrent contract assets	$ 119,200
Noncurrent contract liabilities	58,100
Provisions for loss contracts	81,500		$ 71,200
Net income (loss) attributable to noncontrolling interest	459	$ (909)
Interest expense, net	44,569	20,284
Other (expense) income, net	$ (8,228)	$ 2,586
Transferred at Point in Time
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Revenue derived from performance obligations satisfied when control passes to customer (as a percent)	75.00%

Accounting Policies - Accumulated Other Comprehensive Loss by Component, Net of Tax (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning Balance	$ 2,869,075	$ 2,828,532
Net current period other comprehensive income (loss)	(52,417)	79,008
Ending Balance	9,780,446	2,988,229
Foreign currency translation
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning Balance	(202,204)	5,063
Other comprehensive income (loss) before reclassifications	(46,553)	77,967
Amounts reclassified from accumulated other comprehensive income	0	0
Net current period other comprehensive income (loss)	(46,553)	77,967
Ending Balance	(248,757)	83,030
Derivative contracts
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning Balance	(53)	4,015
Other comprehensive income (loss) before reclassifications	(3,111)	920
Amounts reclassified from accumulated other comprehensive income	0	448
Net current period other comprehensive income (loss)	(3,111)	1,368
Ending Balance	(3,164)	5,383
Pension and post retirement benefit plans
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning Balance	(54,326)	(54,070)
Other comprehensive income (loss) before reclassifications	(3,305)	(847)
Amounts reclassified from accumulated other comprehensive income	552	520
Net current period other comprehensive income (loss)	(2,753)	(327)
Ending Balance	(57,079)	(54,397)
AOCI Attributable to Parent
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning Balance	(256,583)	(44,992)
Other comprehensive income (loss) before reclassifications	(52,969)	78,040
Amounts reclassified from accumulated other comprehensive income	552	968
Net current period other comprehensive income (loss)	(52,417)	79,008
Ending Balance	$ (309,000)	$ 34,016

Accounting Policies - Reclassifications Out of Accumulated Other Comprehensive Loss (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Reclassification Adjustment Out Of Accumulated Other Comprehensive Income On Derivatives [Line Items]
Other income (expense), net	$ (8,228)	$ 2,586
Income tax expense	(18,523)	(26,124)
Interest expense, net	(44,569)	(20,284)
Net (loss) income	(4,013)	87,457
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]
Other income (expense), net	726	718
Income tax expense	(174)	(198)
Net (loss) income	552	520
Reclassification out of Accumulated Other Comprehensive Income \| Amortization of initial net obligation and prior service cost
Reclassification Adjustment Out Of Accumulated Other Comprehensive Income On Derivatives [Line Items]
Other income (expense), net	(366)	(375)
Reclassification out of Accumulated Other Comprehensive Income \| Amortization of net loss
Reclassification Adjustment Out Of Accumulated Other Comprehensive Income On Derivatives [Line Items]
Other income (expense), net	1,092	1,093
Reclassification out of Accumulated Other Comprehensive Income \| Derivative contracts
Reclassification Adjustment Out Of Accumulated Other Comprehensive Income On Derivatives [Line Items]
Income tax expense	0	(231)
Interest expense, net	0	679
Net (loss) income	$ 0	$ 448

Accounting Policies - Remaining Performance Obligations (Details) - Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2019-04-01 $ in Billions	Mar. 31, 2019 USD ($)
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligations, amount	$ 22.0
Remaining performance obligation percentage expected to be recognized	27.00%
Performance obligation period	12 months

Acquisitions - General Electric Transportation (Details) - USD ($) $ / shares in Units, $ in Thousands		3 Months Ended	12 Months Ended
	Feb. 25, 2019	Mar. 31, 2019	Dec. 31, 2018	May 06, 2019	May 05, 2019	Apr. 30, 2019	Feb. 22, 2019
Business Acquisition [Line Items]
Common stock, shares outstanding (in shares)		162,817,600	96,614,946
Preferred stock, shares outstanding (in shares)		0	0
Common stock, shares issued (in shares)		198,131,716
Preferred stock, shares issued (in shares)		10,000	0
GE Transportation
Business Acquisition [Line Items]
Consideration transferred	$ 2,875,000
Payments to Acquire Businesses, Gross	470,000
Business combination, consideration transferred	10,300,000
Closing share price (in USD per share)							$ 73.36
Revenues		$ 495,000
Operating income		500
Acquisition related costs		$ 58,900
GE Transportation \| SpinCo Class B Preferred Stock
Business Acquisition [Line Items]
Business combination, consideration transferred	$ 10,000
GE Transportation \| Convertible Preferred Stock
Business Acquisition [Line Items]
Shares issuable (in shares)	10,000
GE Transportation \| GE and Pre-Merger Holders
Business Acquisition [Line Items]
Percentage of outstanding shares transferred			49.20%
GE Transportation \| General Electric Company
Business Acquisition [Line Items]
Percentage of outstanding shares transferred	9.90%		9.90%
GE Transportation \| General Electric Company \| Convertible Preferred Stock
Business Acquisition [Line Items]
Percentage of outstanding shares transferred			15.00%
General Electric Company
Business Acquisition [Line Items]
Noncontrolling interest acquired	$ 86,765
Wabtec \| GE Transportation \| SpinCo Class B Preferred Stock
Business Acquisition [Line Items]
Preferred stock, shares outstanding (in shares)			10,000
Pre-merger Wabtec Stockholders \| GE Transportation
Business Acquisition [Line Items]
Percentage of outstanding shares transferred			50.80%
General Electric Company
Business Acquisition [Line Items]
Business combination, consideration transferred			$ 2,885,000
Common stock, shares issued (in shares)			19,018,207
Preferred stock, shares issued (in shares)			10,000
General Electric Company \| General Electric Company
Business Acquisition [Line Items]
Common stock, shares issued (in shares)			46,763,975
General Electric Company \| GE Transportation \| SpinCo Common Stock
Business Acquisition [Line Items]
Common stock, shares outstanding (in shares)	8,700,000,000
General Electric Company \| GE Transportation \| SpinCo Class A Preferred Stock
Business Acquisition [Line Items]
Preferred stock, shares outstanding (in shares)	15,000		15,000
General Electric Company \| GE Transportation \| SpinCo Class B Preferred Stock
Business Acquisition [Line Items]
Preferred stock, shares outstanding (in shares)	10,000
Minimum \| General Electric Company \| GE Transportation
Business Acquisition [Line Items]
Percentage of common shares outstanding			14.90%
Maximum \| Pre-merger Wabtec Stockholders \| GE Transportation
Business Acquisition [Line Items]
Percentage of common shares outstanding			18.50%
Maximum \| General Electric Company \| GE Transportation
Business Acquisition [Line Items]
Percentage of common shares outstanding			19.90%
Subsequent Event \| Series A Preferred Stock
Business Acquisition [Line Items]
Preferred stock, shares outstanding (in shares)				1,220
Subsequent Event \| Common Stock
Business Acquisition [Line Items]
Preferred stock, shares outstanding (in shares)				3,515,500
Subsequent Event \| General Electric Company
Business Acquisition [Line Items]
Percentage of outstanding shares transferred				11.70%	24.90%
Subsequent Event \| GET Brazil
Business Acquisition [Line Items]
Noncontrolling interest acquired						$ 56,200
Subsequent Event \| General Electric Company \| GE Transportation \| Series A Preferred Stock
Business Acquisition [Line Items]
Preferred stock, shares outstanding (in shares)				8,780
Subsequent Event \| General Electric Company \| GE Transportation \| Common Stock
Business Acquisition [Line Items]
Preferred stock, shares outstanding (in shares)				25,300,000
Subsequent Event \| Minimum \| General Electric Company \| General Electric Company
Business Acquisition [Line Items]
Percentage of outstanding shares transferred				14.90%

Acquisitions - Summary of Preliminary Estimated Fair Values of GET Assets Acquired and Liabilities Assumed (Details) - USD ($) $ in Thousands	Mar. 31, 2019	Feb. 25, 2019	Dec. 31, 2018
Assets acquired
Goodwill	$ 8,142,473		$ 2,396,544
General Electric Company
Assets acquired
Cash and cash equivalents		$ 174,334
Accounts receivable		530,054
Inventories		1,179,439
Other current assets		64,464
Property, plant & equipment		1,071,402
Goodwill		5,783,358
Other noncurrent assets		234,823
Total assets acquired		12,317,826
Liabilities assumed
Current liabilities		1,495,438
Contingent consideration		440,000
Other noncurrent liabilities		523,801
Total liabilities assumed		2,459,239
Net assets acquired		9,858,587
Net assets acquired		86,765
General Electric Company \| Trade Names
Assets acquired
Intangible assets acquired		50,000
General Electric Company \| Customer relationships
Assets acquired
Intangible assets acquired		529,984
General Electric Company \| Patents
Assets acquired
Intangible assets acquired		1,219,968
General Electric Company \| Backlog
Assets acquired
Intangible assets acquired		$ 1,480,000

Acquisitions - Additional Information (Details) - USD ($) $ in Thousands	Mar. 22, 2019	Mar. 31, 2019	Dec. 31, 2018	Mar. 22, 2018
Business Acquisition [Line Items]
Goodwill		$ 8,142,473	$ 2,396,544
Annax
Business Acquisition [Line Items]
Purchase price, net of cash acquired				$ 28,667
Goodwill				27,188
Escrow deposits		$ 13,200
Goodwill and other intangible assets acquired				38,900
Acquired indefinite-lived intangible assets				11,715
Annax \| Customer relationships
Business Acquisition [Line Items]
Acquired indefinite-lived intangible assets				7,500
Intangible assets, weighted average useful life (years)	20 years
Annax \| Trade Names
Business Acquisition [Line Items]
Acquired indefinite-lived intangible assets				$ 3,800

Acquisitions - Summary of Preliminary Estimated Fair Values of Assets Acquired and Liabilities Assumed (Detail) - USD ($) $ in Thousands	Mar. 31, 2019	Dec. 31, 2018	Mar. 22, 2018
Business Acquisition [Line Items]
Goodwill	$ 8,142,473	$ 2,396,544
Annax
Business Acquisition [Line Items]
Current assets			$ 32,831
Property, plant & equipment			674
Goodwill			27,188
Other intangible assets			11,715
Total assets acquired			72,408
Total liabilities assumed			(43,741)
Net assets acquired			$ 28,667

Acquisitions - Pro Forma Financial Information (Detail) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Business Combinations [Abstract]
Net sales	$ 2,079,771	$ 1,881,724
Gross profit	543,480	553,681
Net income attributable to Wabtec shareholders	$ 83,277	$ 77,275
Diluted earnings per share
As Reported (in dollars per share)	$ (0.04)	$ 0.92
Pro forma (in dollars per share)	$ 0.44	$ 0.41

- Definition

The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 55
-Paragraph 52
-URI http://asc.fasb.org/extlink&oid=109256448&loc=d3e4984-109258

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 45
-Paragraph 2
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 50
-Paragraph 1
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3550-109257

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
-Topic 942
-SubTopic 220
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-04(23))
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Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 11
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Reference 6: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
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-Paragraph 7
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
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-Paragraph 2
-Subparagraph (SX 210.5-03(21))
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
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-Subparagraph (d)
-URI http://asc.fasb.org/extlink&oid=109260490&loc=SL5780133-109256

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
-SubTopic 220
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04(19))
-URI http://asc.fasb.org/extlink&oid=114873790&loc=SL114874131-224263

+ Details

Inventories (Details) - USD ($) $ in Thousands	Mar. 31, 2019	Dec. 31, 2018
Inventory Disclosure [Abstract]
Raw materials	$ 822,178	$ 465,873
Work-in-progress	435,565	154,485
Finished goods	689,477	224,528
Total inventories	$ 1,947,220	$ 844,886

Intangibles - Change in the Carrying Amount of Goodwill by Segment (Detail) $ in Thousands	3 Months Ended
	Mar. 31, 2019 USD ($)
Goodwill [Roll Forward]
Beginning balance	$ 2,396,544
Additions	5,783,358
Foreign currency impact	(37,429)
Ending balance	8,142,473
Freight Segment
Goodwill [Roll Forward]
Beginning balance	713,391
Additions	5,783,358
Foreign currency impact	(15,315)
Ending balance	6,481,434
Transit Segment
Goodwill [Roll Forward]
Beginning balance	1,683,153
Additions	0
Foreign currency impact	(22,114)
Ending balance	$ 1,661,039

Intangibles - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Dec. 31, 2018
Intangible Assets Disclosure [Line Items]
Trade names	$ 624,600		$ 582,800
Intangible assets, amortization expense	$ 27,442	$ 10,352
Trade Names
Intangible Assets Disclosure [Line Items]
Trade names, useful life	5 years
Patents
Intangible Assets Disclosure [Line Items]
Intangible assets, weighted average useful life (years)	10 years
Customer relationships
Intangible Assets Disclosure [Line Items]
Intangible assets, weighted average useful life (years)	18 years
Other Intangibles
Intangible Assets Disclosure [Line Items]
Intangible assets, weighted average useful life (years)	13 years

Intangibles - Intangible Assets Other Than Goodwill and Trade Names (Detail) - USD ($) $ in Thousands	Mar. 31, 2019	Dec. 31, 2018
Finite Lived Intangible Assets [Line Items]
Intangible assets, net of accumulated amortization	$ 3,739,470	$ 547,089
Intellectual property, patents, non-compete and other intangibles
Finite Lived Intangible Assets [Line Items]
Intangible assets, net of accumulated amortization	2,697,919	15,328
Intangible assets, accumulated amortization	51,127	42,446
Customer relationships
Finite Lived Intangible Assets [Line Items]
Intangible assets, net of accumulated amortization	1,041,551	531,761
Intangible assets, accumulated amortization	$ 168,774	$ 158,533

Intangibles - Amortization Expense (Detail) $ in Thousands	Mar. 31, 2019 USD ($)
Goodwill and Intangible Assets Disclosure [Abstract]
Remainder of 2019	$ 191,746
2020	254,053
2021	253,908
2022	253,596
2023	$ 253,258

Contract Assets and Contract Liabilities (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2019 USD ($)
Contract Assets
Balance at beginning of year	$ 345,585
Acquisitions	238,665
Recognized in current year	188,299
Reclassified to accounts receivable	(196,973)
Foreign currency impact	(756)
Balance at end of period	574,820
Contract Liabilities
Balance at beginning of year	444,805
Acquisitions	274,054
Recognized in current year	205,272
Amounts in beginning balance reclassified to revenue	(204,388)
Current year amounts reclassified to revenue	(6,421)
Foreign currency impact	(424)
Balance at end of period	$ 712,898

Leases - Lease Expense (Details) $ in Thousands	3 Months Ended
Leases - Lease Expense (Details) $ in Thousands	Mar. 31, 2019 USD ($)
Leases [Abstract]
Operating Lease Expense	$ 13,397
Amortization of Leased Assets	271
Interest on Lease Liabilities	4
Short-term and Variable Lease Expense	105
Sublease Income	(138)
Total	$ 13,639

Leases - Maturity of Lease Liabilities (Details) $ in Thousands	Mar. 31, 2019 USD ($)
Operating Leases
Remaining 2019	$ 38,094
2020	44,455
2021	36,350
2022	29,824
2023	25,377
Thereafter	106,069
Total Lease Payments	280,169
Less: Present Value Discount	(30,949)
Present Value Lease Liabilities	249,220
Finance Leases
Remaining 2019	278
2020	377
2021	180
2022	121
2023	121
Thereafter	348
Total Lease Payments	1,425
Less: Present Value Discount	(5)
Present Value Lease Liabilities	1,420
Total
Remaining 2019	38,372
2020	44,832
2021	36,530
2022	29,945
2023	25,498
Thereafter	106,417
Total Lease Payments	281,594
Less: Present Value Discount	30,954
Present Value Lease Liabilities	$ 250,640

Leases - Lease Term and Discount Rate (Details)	Mar. 31, 2019
Weighted-average remaining lease term (years)
Operating Leases	8 years 5 months 9 days
Finance Leases	5 years 8 months 5 days
Weighted-average discount rate
Operating Leases	3.00%
Finance Leases	1.19%

Leases - Narrative (Details)	Mar. 31, 2019
Minimum
Lessee, Lease, Description [Line Items]
Discount rate	1.19%
Maximum
Lessee, Lease, Description [Line Items]
Discount rate	12.26%

Long-Term Debt - Schedule of Long-term Debt (Details) - USD ($) $ in Thousands	Mar. 31, 2019	Dec. 31, 2018	Sep. 14, 2018	Oct. 31, 2016	Aug. 31, 2013
Debt Instrument [Line Items]
Total	$ 4,962,594	$ 3,856,873
Less - current portion	321,308	64,099
Long-term portion	4,641,286	3,792,774
Line of Credit \| Revolving Credit Facility
Debt Instrument [Line Items]
Long-term debt	1,226,903	338,112
Unamortized discount and debt issuance cost	2,865	3,138
Other Borrowings
Debt Instrument [Line Items]
Long-term debt	258,147	42,246
Floating Rate Notes, due 2021 \| Senior Notes
Debt Instrument [Line Items]
Long-term debt	497,096	496,796
Unamortized discount and debt issuance cost	2,904	3,204
4.15% Senior Notes, due 2024 \| Senior Notes
Debt Instrument [Line Items]
Long-term debt	$ 743,297	742,957
Stated interest rate (as a percent)	4.15%		4.15%
Unamortized discount and debt issuance cost	$ 6,703	7,043
4.70% Senior Notes, due 2028 \| Senior Notes
Debt Instrument [Line Items]
Long-term debt	$ 1,239,924	1,239,657
Stated interest rate (as a percent)	4.70%		4.70%
Unamortized discount and debt issuance cost	$ 10,076	10,343
3.45% Senior Notes, due 2026 \| Senior Notes
Debt Instrument [Line Items]
Long-term debt	$ 748,339	748,282
Stated interest rate (as a percent)	3.45%			3.45%
Unamortized discount and debt issuance cost	$ 1,661	1,718
4.375% Senior Notes, due 2023 \| Senior Notes
Debt Instrument [Line Items]
Long-term debt	$ 248,888	248,823
Stated interest rate (as a percent)	4.375%				4.375%
Unamortized discount and debt issuance cost	$ 1,113	$ 1,177

Long-Term Debt - Additional Information (Details) - USD ($)						1 Months Ended	3 Months Ended
	Feb. 25, 2019	Feb. 12, 2019	Sep. 14, 2018	Oct. 31, 2016	Jun. 22, 2016	Aug. 31, 2013	Mar. 31, 2019	Jun. 08, 2018	Jun. 05, 2014
Forward Starting Interest Rate Swap Agreement
Debt Instrument [Line Items]
Interest rate on notional value (as a percent)							3.46%
Interest rate swap agreements, notional amount									$ 150,000,000
2018 Refinancing Credit Agreement
Debt Instrument [Line Items]
Interest Coverage ratio							3.00
Leverage ratio							3.25
Cash consideration							$ 500,000,000
Maximum Leverage Ratio permitted							3.75
Restrictive covenants, leverage ratio							3.50
2018 Refinancing Credit Agreement \| LIBOR Rate
Debt Instrument [Line Items]
Letters of credit subject to financial covenant restrictions							$ 300,000,000
2018 Refinancing Credit Agreement \| LIBOR Rate \| Minimum
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate							1.00%
2018 Refinancing Credit Agreement \| LIBOR Rate \| Maximum
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate							1.875%
2018 Refinancing Credit Agreement \| Base Rate \| Minimum
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate							0.00%
2018 Refinancing Credit Agreement \| Base Rate \| Maximum
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate							0.875%
2016 Refinancing Credit Agreement
Debt Instrument [Line Items]
Deferred financing cost					$ 3,000,000
2016 Refinancing Credit Agreement \| Federal Funds Effective Rate
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate							0.50%
2016 Refinancing Credit Agreement \| LIBOR Rate
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate							10000.00%
2016 Refinancing Credit Agreement \| Base Rate
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate							0.00%
2016 Refinancing Credit Agreement \| Base Rate \| Minimum
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate							0.00%
2016 Refinancing Credit Agreement \| Base Rate \| Maximum
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate							7500.00%
2016 Refinancing Credit Agreement \| Alternative Rate
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate							17500.00%
2016 Refinancing Credit Agreement \| Alternative Rate \| Minimum
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate							7500.00%
2016 Refinancing Credit Agreement \| Alternative Rate \| Maximum
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate							17500.00%
Bridge Loan \| 2018 Refinancing Credit Agreement
Debt Instrument [Line Items]
Revolving credit facility, amount								$ 2,500,000,000
Senior Notes
Debt Instrument [Line Items]
Debt instrument face amount			$ 2,500,000,000
Increase in interest rate		0.25%
Senior Notes \| Floating Rate Notes, due 2021
Debt Instrument [Line Items]
Debt instrument face amount			$ 500,000,000
Debt instrument, term			1 year
Debt issuance price (as a percent)			100.00%
Deferred financing cost			$ 3,500,000
Senior Notes \| Floating Rate Notes, due 2021 \| LIBOR Rate
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate			1.05%
Senior Notes \| 4.15% Senior Notes, due 2024
Debt Instrument [Line Items]
Debt instrument face amount			$ 750,000,000
Debt issuance price (as a percent)			99.805%
Deferred financing cost			$ 7,400,000
Stated interest rate (as a percent)			4.15%				4.15%
Senior Notes \| 4.70% Senior Notes, due 2028
Debt Instrument [Line Items]
Debt instrument face amount			$ 1,250,000,000
Debt issuance price (as a percent)			99.889%
Deferred financing cost			$ 10,600,000
Stated interest rate (as a percent)			4.70%				4.70%
Senior Notes \| 3.45% Senior Notes, due 2026
Debt Instrument [Line Items]
Debt instrument face amount				$ 750,000,000
Debt issuance price (as a percent)				99.965%
Deferred financing cost				$ 2,700,000
Stated interest rate (as a percent)				3.45%			3.45%
Senior Notes \| 4.375% Senior Notes, due 2023
Debt Instrument [Line Items]
Debt instrument face amount						$ 250,000,000
Debt issuance price (as a percent)						99.879%
Deferred financing cost						$ 2,600,000
Stated interest rate (as a percent)						4.375%	4.375%
Senior Notes \| 2018 Refinancing Credit Agreement \| Letter of Credit
Debt Instrument [Line Items]
Revolving credit facility, amount							$ 27,600,000
Letters of credit subject to financial covenant restrictions							$ 675,100,000
Line of Credit \| 2018 Refinancing Credit Agreement \| Revolving Credit Facility
Debt Instrument [Line Items]
Revolving credit facility, amount								1,200,000,000.0
Uncommitted accordion feature								600,000,000
Line of Credit \| 2018 Refinancing Credit Agreement \| Letter of Credit
Debt Instrument [Line Items]
Revolving credit facility, amount								450,000,000
Line of Credit \| 2018 Refinancing Credit Agreement \| Term Loan
Debt Instrument [Line Items]
Revolving credit facility, amount								350,000,000
Line of Credit \| 2018 Refinancing Credit Agreement \| Delayed Draw Term Loan
Debt Instrument [Line Items]
Revolving credit facility, amount								400,000,000
Commitment fee	0.175%
Line of Credit \| 2018 Refinancing Credit Agreement \| Swing Line Sub Facility
Debt Instrument [Line Items]
Revolving credit facility, amount								$ 75,000,000
Line of Credit \| 2016 Refinancing Credit Agreement \| Revolving Credit Facility
Debt Instrument [Line Items]
Revolving credit facility, amount					$ 1,200,000,000.0
Credit facility loan term, years					5 years
Line of Credit \| 2016 Refinancing Credit Agreement \| Term Loan
Debt Instrument [Line Items]
Revolving credit facility, amount					$ 400,000,000

Employee Benefit Plans - Components of Net Periodic Benefit Cost (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Pension Plan \| U.S.
Net periodic benefit cost
Service cost	$ 71	$ 87
Interest cost	372	333
Expected return on plan assets	(433)	(445)
Net amortization/deferrals	207	243
Net periodic benefit cost (credit)	$ 217	$ 218
Assumptions
Discount Rate (as a percent)	4.30%	3.56%
Expected long-term rate of return (as a percent)	5.35%	5.15%
Rate of compensation increase (as a percent)	3.00%	3.00%
Pension Plan \| International
Net periodic benefit cost
Service cost	$ 611	$ 691
Interest cost	1,711	1,834
Expected return on plan assets	(2,927)	(3,466)
Net amortization/deferrals	641	554
Net periodic benefit cost (credit)	$ 36	$ (387)
Assumptions
Discount Rate (as a percent)	2.53%	2.40%
Expected long-term rate of return (as a percent)	5.01%	5.10%
Rate of compensation increase (as a percent)	2.60%	2.60%
Other Postretirement Benefit Plan \| U.S.
Net periodic benefit cost
Service cost	$ 1	$ 1
Interest cost	89	81
Net amortization/deferrals	(101)	(76)
Net periodic benefit cost (credit)	$ (11)	$ 6
Assumptions
Discount Rate (as a percent)	4.17%	3.43%
Other Postretirement Benefit Plan \| International
Net periodic benefit cost
Service cost	$ 2	$ 8
Interest cost	20	26
Net amortization/deferrals	(22)	(4)
Net periodic benefit cost (credit)	$ 0	$ 30
Assumptions
Discount Rate (as a percent)	3.49%	3.21%

Employee Benefit Plans - Additional Information (Detail) $ in Millions	Mar. 31, 2019 USD ($)
International \| Pension Plan
Defined Benefit Plans And Other Postretirement Benefit Plans Table Text Block [Line Items]
Expected plan contributions, current year	$ 6.4

Stock-Based Compensation - Additional Information (Detail) - USD ($) $ in Millions	3 Months Ended		12 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Stock-based compensation expense	$ 8.5	$ 5.7
Unamortized compensation expense expected to be vested	75.6
Stock Option
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Stock-based compensation expense	0.4
Restricted Stock
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Stock-based compensation expense	2.7
Restricted Stock Units (RSUs)
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Stock-based compensation expense	0.8
Performance Shares
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Stock-based compensation expense	$ 4.3
Award vesting period (in years)	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 (as a percent)			100.00%	100.00%	100.00%
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 (as a percent)	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 (as a percent)	200.00%
2011 Plan
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Number of shares available for grant (in shares)	3,800,000
2011 Plan \| Stock Option
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Award vesting period (in years)	4 years
Plan term (in years)	10 years
2011 Plan \| Restricted Stock
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Award vesting period (in years)	4 years
2019 Plan \| Stock Option
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Award vesting period (in years)	3 years
Directors Plan
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Stock-based compensation expense	$ 0.3
Directors Plan \| Restricted Stock
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Award vesting period (in years)	1 year
2000 Plan \| Stock Option
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Award vesting period (in years)	4 years
Plan term (in years)	10 years
2000 Plan \| Restricted Stock
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Award vesting period (in years)	4 years

Stock-Based Compensation - Stock Option Activity (Detail) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2019	Dec. 31, 2018
Options
Beginning balance (in shares)	466,677
Granted (in shares)	128,555
Exercised (in shares)	(734)
Canceled (in shares)	(228)
Ending balance (in shares)	594,270	466,677
Exercisable at period end (in shares)	355,222
Weighted Average Exercise Price
Beginning balance (in dollars per share)	$ 61.04
Granted (in dollars per share)	72.85
Exercised (in dollars per share)	64.54
Canceled (in dollars per share)	74.38
Ending balance (in dollars per share)	63.58	$ 61.04
Exercisable (in dollars per share)	$ 56.00
Weighted Average Remaining Contractual Life
Outstanding, weighted average remaining contractual life (in years)	6 years 5 months	5 years 8 months
Exercisable weighted average remaining contractual life (in years)	5 years 2 months
Aggregate Intrinsic Value
Beginning balance	$ 5,917
Granted	112
Exercised	7
Canceled	0
Ending balance	6,027	$ 5,917
Exercisable	$ 6,295

Stock-Based Compensation - Fair Value of Each Option Grant Weighted Average Assumptions (Detail)	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Dividend yield (as a percent)	0.66%	0.33%
Risk-free interest rate (as a percent)	2.63%	2.70%
Stock price volatility (as a percent)	25.80%	23.90%
Expected life (years)	5 years	5 years

Stock-Based Compensation - Restricted Stock Activity and Incentive Stock Awards Activity (Detail)	3 Months Ended
	Mar. 31, 2019 $ / shares shares
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Abstract]
Outstanding, beginning of period (in dollars per share) \| $ / shares	$ 75.51
Granted (in dollars per share) \| $ / shares	70.64
Vested (in dollars per share) \| $ / shares	68.62
Adjustment for incentive stock awards expected to vest (in dollars per share) \| $ / shares	81.20
Canceled (in dollars per share) \| $ / shares	80.17
Outstanding, end of period (in dollars per share) \| $ / shares	$ 73.93
Restricted Stock and Units
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Outstanding, beginning of period (in shares)	445,089
Granted (in shares)	535,873
Vested (in shares)	(105,651)
Adjustment for incentive stock awards expected to vest (in shares)	0
Canceled (in shares)	(6,733)
Outstanding, end of period (in shares)	868,578
Incentive Stock Units
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Outstanding, beginning of period (in shares)	415,243
Granted (in shares)	258,600
Vested (in shares)	(119,835)
Adjustment for incentive stock awards expected to vest (in shares)	18,398
Canceled (in shares)	(5,350)
Outstanding, end of period (in shares)	567,056

Income Taxes (Detail) - USD ($) $ in Millions	3 Months Ended
Income Taxes (Detail) - USD ($) $ in Millions	Mar. 31, 2019	Mar. 31, 2018	Dec. 31, 2018
Income Tax Disclosure [Abstract]
Effective tax rate	127.70%	23.00%
Unrecognized tax benefits	$ 12.1		$ 9.5
Unrecognized tax benefits if recognized that would affect effective tax rate	10.2		8.4
Accrued interest related to uncertain tax positions	1.0		$ 0.9
Unrecognized tax benefits subject to change within the next 12 months	$ 6.2

Earnings Per Share (Detail) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Numerator
Net (loss) income attributable to Wabtec shareholders	$ (4,472)	$ 88,366
Less: dividends declared - common shares and non-vested restricted stock	(11,687)	(11,531)
Undistributed earnings	$ (16,159)	$ 76,835
Percentage allocated to common shareholders (as a percent)	99.70%	99.70%
Undistributed earnings allocated to common shareholders	$ (16,111)	$ 76,604
Add: dividends declared - common shares	11,646	11,497
Numerator for basic and diluted earnings per common share	$ (4,465)	$ 88,101
Denominator
Basic weighted average common shares outstanding (in shares)	121,226	95,810
Assumed conversion of dilutive stock-based compensation plans (in shares)	0	561
Denominator for diluted earnings per common share - adjusted weighted average shares and assumed conversion (in shares)	121,226	96,371
Net income attributable to Wabtec shareholders per common share
Basic (in dollars per share)	$ (0.04)	$ 0.92
Diluted (in dollars per share)	$ (0.04)	$ 0.92
Basic weighted-average common shares outstanding and non-vested restricted stock expected to vest (in shares)	121,565	96,091

Warranties (Detail) - USD ($) $ in Thousands	3 Months Ended
Warranties (Detail) - USD ($) $ in Thousands	Mar. 31, 2019	Mar. 31, 2018
Movement in Standard and Extended Product Warranty, Increase (Decrease) [Roll Forward]
Balance at beginning of year	$ 153,702	$ 153,063
Acquisitions	89,919	1,975
Warranty expense	34,627	11,677
Warranty claim payments	(27,841)	(11,282)
Foreign currency impact/other	(1,092)	2,138
Balance at end of period	$ 249,315	$ 157,571

Derivative Financial Instruments and Hedging - Additional Information (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Non-Designated \| Foreign Exchange Forward
Derivative [Line Items]
Derivative term (in years)	1 year
Unrealized gain (loss) on derivative contracts	$ (3,000)
Cash Flow Hedging \| Designated \| Foreign Currency Contracts
Derivative [Line Items]
Derivative term (in years)	2 years
Derivative instruments amounts reclassified into income	$ 0	$ 0

Derivative Financial Instruments and Hedging - Summary of Notional Amounts and Fair Value (Details) - USD ($) $ in Millions	Mar. 31, 2019	Dec. 31, 2018
Derivative [Line Items]
Gross notional amount	$ 2,251.0	$ 1,697.0
Total	1.0	(1.0)
Other current assets
Derivative [Line Items]
Derivative asset fair value	4.3	1.3
Other current liabilities
Derivative [Line Items]
Liabilities at fair value	(3.3)	(2.3)
Designated
Derivative [Line Items]
Gross notional amount	1,727.0	863.0
Total	4.3	(2.3)
Designated \| Other current assets
Derivative [Line Items]
Derivative asset fair value	4.3	0.0
Designated \| Other current liabilities
Derivative [Line Items]
Liabilities at fair value	0.0	(2.3)
Non-Designated
Derivative [Line Items]
Gross notional amount	524.0	834.0
Total	(3.3)	1.3
Non-Designated \| Other current assets
Derivative [Line Items]
Derivative asset fair value	0.0	1.3
Non-Designated \| Other current liabilities
Derivative [Line Items]
Liabilities at fair value	$ (3.3)	$ 0.0

Fair Value Measurement and Fair Value of Financial Instruments (Detail) - Senior Notes - USD ($) $ in Thousands	Mar. 31, 2019	Dec. 31, 2018	Sep. 14, 2018
4.375% Senior Notes
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Stated interest rate (as a percent)	4.375%
3.45% Senior Notes
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Stated interest rate (as a percent)	3.45%
4.15% Senior Notes
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Stated interest rate (as a percent)	4.15%		4.15%
4.7% Senior Notes
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Stated interest rate (as a percent)	4.70%		4.70%
Carrying Value \| 4.375% Senior Notes
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Debt instrument	$ 248,888	$ 248,823
Carrying Value \| 3.45% Senior Notes
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Debt instrument	748,339	748,282
Carrying Value \| Floating Rate Notes 2021
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Debt instrument	497,096	496,796
Carrying Value \| 4.15% Senior Notes
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Debt instrument	743,298	742,957
Carrying Value \| 4.7% Senior Notes
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Debt instrument	1,239,924	1,239,657
Fair Value \| 4.375% Senior Notes
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Debt instrument	250,108	254,218
Fair Value \| 3.45% Senior Notes
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Debt instrument	698,258	675,075
Fair Value \| Floating Rate Notes 2021
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Debt instrument	500,495	497,425
Fair Value \| 4.15% Senior Notes
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Debt instrument	762,870	729,350
Fair Value \| 4.7% Senior Notes
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Debt instrument	$ 1,267,750	$ 1,179,625

Commitments and Contingencies (Details) - USD ($) $ in Millions	Jan. 31, 2019	Sep. 08, 2017
Positive Train Control Patents \| Siemens Industry, Inc. \| Settled Litigation
Loss Contingencies [Line Items]
Damages awarded	$ 5.6
End of Train Patents \| Siemens Industry, Inc. \| Settled Litigation
Loss Contingencies [Line Items]
Damages awarded	$ 1.1
Subsidiaries \| Denver Transit, Installation of Constant Wireless Crossings \| Threatened Litigation
Loss Contingencies [Line Items]
Damages alleged		$ 36.8

Segment Information - Additional Information (Detail)	3 Months Ended
Segment Information - Additional Information (Detail)	Mar. 31, 2019 segment
Segment Reporting [Abstract]
Number of reportable segments	2

Segment Information - Segment Financial Information (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Segment Reporting Information [Line Items]
Total sales	$ 1,593,617	$ 1,056,177
Income (loss) from operations	67,307	131,279
Interest expense and other, net	(52,797)	(17,698)
Income from operations before income taxes	14,510	113,581
Freight Segment
Segment Reporting Information [Line Items]
Total sales	876,434	379,554
Transit Segment
Segment Reporting Information [Line Items]
Total sales	717,183	676,623
Corporate Activities and Elimination
Segment Reporting Information [Line Items]
Total sales	(22,826)	(15,891)
Income (loss) from operations	(66,836)	(6,427)
Interest expense and other, net	(52,797)	(17,698)
Income from operations before income taxes	(119,633)	(24,125)
Corporate Activities and Elimination \| Freight Segment
Segment Reporting Information [Line Items]
Total sales	16,704	12,002
Corporate Activities and Elimination \| Transit Segment
Segment Reporting Information [Line Items]
Total sales	6,122	3,889
Operating Segments \| Freight Segment
Segment Reporting Information [Line Items]
Total sales	893,138	391,556
Income (loss) from operations	75,210	69,623
Interest expense and other, net	0	0
Income from operations before income taxes	75,210	69,623
Operating Segments \| Transit Segment
Segment Reporting Information [Line Items]
Total sales	723,305	680,512
Income (loss) from operations	58,933	68,083
Interest expense and other, net	0	0
Income from operations before income taxes	$ 58,933	$ 68,083

Segment Information - Sales by Product (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Segment Reporting Information [Line Items]
Total sales	$ 1,593,617	$ 1,056,177
Remanufacturing, Overhaul & Build
Segment Reporting Information [Line Items]
Total sales	418,114	386,548
Specialty Products & Electronics
Segment Reporting Information [Line Items]
Total sales	294,817	274,265
Transit Products
Segment Reporting Information [Line Items]
Total sales	242,222	215,618
Brake Products
Segment Reporting Information [Line Items]
Total sales	582,177	135,713
Other
Segment Reporting Information [Line Items]
Total sales	$ 56,287	$ 44,033

Guarantor Subsidiaries Financial Information - Balance Sheet (Details) - USD ($) $ in Thousands	Mar. 31, 2019	Dec. 31, 2018	Mar. 31, 2018	Dec. 31, 2017
Condensed Financial Statements, Captions [Line Items]
Cash and cash equivalents	$ 512,870	$ 2,342,354	$ 249,886	$ 233,401
Receivables, net	1,726,824	1,146,778
Inventories	1,947,220	844,886
Current assets - other	194,223	115,649
Total current assets	4,381,137	4,449,667
Property, plant and equipment, net	1,634,966	563,737
Goodwill	8,142,473	2,396,544
Investment in subsidiaries	0	0
Other intangibles, net	4,364,021	1,129,880
Other long-term assets	555,308	109,406
Total Assets	19,077,905	8,649,234
Current liabilities	3,254,435	1,646,690
Inter-company	0	0
Long-term debt	4,641,286	3,792,774
Long-term liabilities - other	1,401,738	340,695
Total Liabilities	9,297,459	5,780,159
Shareholders' equity	9,687,846	2,865,131
Noncontrolling interest	92,600	3,944
Total Equity	9,780,446	2,869,075	2,988,229	2,828,532
Total Liabilities and Equity	19,077,905	8,649,234
Elimination
Condensed Financial Statements, Captions [Line Items]
Cash and cash equivalents	0	0	0	0
Receivables, net	0	0
Inventories	0	0
Current assets - other	0	0
Total current assets	0	0
Property, plant and equipment, net	0	0
Goodwill	0	0
Investment in subsidiaries	(21,833,654)	(10,730,086)
Other intangibles, net	0	0
Other long-term assets	0	0
Total Assets	(21,833,654)	(10,730,086)
Current liabilities	0	0
Inter-company	0	0
Long-term debt	0	0
Long-term liabilities - other	0	0
Total Liabilities	0	0
Shareholders' equity	(21,833,654)	(10,730,086)
Noncontrolling interest	0	0
Total Equity	(21,833,654)	(10,730,086)
Total Liabilities and Equity	(21,833,654)	(10,730,086)
Parent \| Reportable Legal Entities
Condensed Financial Statements, Captions [Line Items]
Cash and cash equivalents	5,288	1,782,682	12,708	933
Receivables, net	137,358	106,815
Inventories	139,550	149,622
Current assets - other	11,335	11,884
Total current assets	293,531	2,051,003
Property, plant and equipment, net	54,641	51,551
Goodwill	503,700	25,275
Investment in subsidiaries	16,575,061	6,707,979
Other intangibles, net	28,924	29,254
Other long-term assets	26,262	8,775
Total Assets	17,482,119	8,873,837
Current liabilities	467,702	264,630
Inter-company	2,557,628	1,947,504
Long-term debt	4,387,180	3,779,627
Long-term liabilities - other	381,763	16,945
Total Liabilities	7,794,273	6,008,706
Shareholders' equity	9,672,846	2,865,131
Noncontrolling interest	15,000	0
Total Equity	9,687,846	2,865,131
Total Liabilities and Equity	17,482,119	8,873,837
Guarantors \| Reportable Legal Entities
Condensed Financial Statements, Captions [Line Items]
Cash and cash equivalents	(38)	(119)	2,090	4,802
Receivables, net	69,745	61,513
Inventories	62,766	69,116
Current assets - other	920	690
Total current assets	133,393	131,200
Property, plant and equipment, net	25,550	24,755
Goodwill	283,241	283,241
Investment in subsidiaries	5,258,593	4,022,107
Other intangibles, net	77,924	78,547
Other long-term assets	6,772	149
Total Assets	5,785,473	4,539,999
Current liabilities	84,137	91,004
Inter-company	(1,458,674)	(1,436,222)
Long-term debt	0	0
Long-term liabilities - other	54,560	48,714
Total Liabilities	(1,319,977)	(1,296,504)
Shareholders' equity	7,105,450	5,836,503
Noncontrolling interest	0	0
Total Equity	7,105,450	5,836,503
Total Liabilities and Equity	5,785,473	4,539,999
Non-Guarantors \| Reportable Legal Entities
Condensed Financial Statements, Captions [Line Items]
Cash and cash equivalents	507,620	559,791	$ 235,088	$ 227,666
Receivables, net	1,519,721	978,450
Inventories	1,744,904	626,148
Current assets - other	181,968	103,075
Total current assets	3,954,213	2,267,464
Property, plant and equipment, net	1,554,775	487,431
Goodwill	7,355,532	2,088,028
Investment in subsidiaries	0	0
Other intangibles, net	4,257,173	1,022,079
Other long-term assets	522,274	100,482
Total Assets	17,643,967	5,965,484
Current liabilities	2,702,596	1,291,056
Inter-company	(1,098,954)	(511,282)
Long-term debt	254,106	13,147
Long-term liabilities - other	965,415	275,036
Total Liabilities	2,823,163	1,067,957
Shareholders' equity	14,743,204	4,893,583
Noncontrolling interest	77,600	3,944
Total Equity	14,820,804	4,897,527
Total Liabilities and Equity	$ 17,643,967	$ 5,965,484

Guarantor Subsidiaries Financial Information - Income Statement (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Condensed Financial Statements, Captions [Line Items]
Total net sales	$ 1,593,617	$ 1,056,177
Total cost of sales	(1,204,600)	(745,296)
Gross profit	389,017	310,881
Total operating expenses	(321,710)	(179,602)
Income from operations	67,307	131,279
Interest expense, net	(44,569)	(20,284)
Other (expense) income, net	(8,228)	2,586
Equity earnings	0	0
Income from operations before income taxes	14,510	113,581
Income tax (expense) benefit	(18,523)	(26,124)
Net (loss) income	(4,013)	87,457
Less: Net (gain) loss attributable to noncontrolling interest	(459)	909
Net (loss) income attributable to Wabtec shareholders	(4,472)	88,366
Comprehensive income attributable to Wabtec shareholders	(56,889)	167,374
Elimination
Condensed Financial Statements, Captions [Line Items]
Total net sales	(55,501)	(48,493)
Total cost of sales	33,084	40,685
Gross profit	(22,417)	(7,808)
Total operating expenses	0	0
Income from operations	(22,417)	(7,808)
Interest expense, net	0	0
Other (expense) income, net	0	0
Equity earnings	(171,241)	(135,418)
Income from operations before income taxes	(193,658)	(143,226)
Income tax (expense) benefit	0	0
Net (loss) income	(193,658)	(143,226)
Less: Net (gain) loss attributable to noncontrolling interest	0	0
Net (loss) income attributable to Wabtec shareholders	(193,658)	(143,226)
Comprehensive income attributable to Wabtec shareholders	(193,658)	(143,226)
Parent \| Reportable Legal Entities
Condensed Financial Statements, Captions [Line Items]
Total net sales	193,066	161,301
Total cost of sales	(157,650)	(118,658)
Gross profit	35,416	42,643
Total operating expenses	(97,540)	(35,627)
Income from operations	(62,124)	7,016
Interest expense, net	(41,646)	(20,394)
Other (expense) income, net	20,333	8,729
Equity earnings	91,482	106,698
Income from operations before income taxes	8,045	102,049
Income tax (expense) benefit	(12,517)	(13,682)
Net (loss) income	(4,472)	88,367
Less: Net (gain) loss attributable to noncontrolling interest	0	0
Net (loss) income attributable to Wabtec shareholders	(4,472)	88,367
Comprehensive income attributable to Wabtec shareholders	(4,472)	88,649
Guarantors \| Reportable Legal Entities
Condensed Financial Statements, Captions [Line Items]
Total net sales	128,803	301,706
Total cost of sales	(82,015)	(179,090)
Gross profit	46,788	122,616
Total operating expenses	(15,321)	(37,327)
Income from operations	31,467	85,289
Interest expense, net	3,478	2,301
Other (expense) income, net	(2,485)	(2,469)
Equity earnings	79,759	28,720
Income from operations before income taxes	112,219	113,841
Income tax (expense) benefit	0	1,194
Net (loss) income	112,219	115,035
Less: Net (gain) loss attributable to noncontrolling interest	0	215
Net (loss) income attributable to Wabtec shareholders	112,219	115,250
Comprehensive income attributable to Wabtec shareholders	112,219	115,250
Non-Guarantors \| Reportable Legal Entities
Condensed Financial Statements, Captions [Line Items]
Total net sales	1,327,249	641,663
Total cost of sales	(998,019)	(488,233)
Gross profit	329,230	153,430
Total operating expenses	(208,849)	(106,648)
Income from operations	120,381	46,782
Interest expense, net	(6,401)	(2,191)
Other (expense) income, net	(26,076)	(3,674)
Equity earnings	0	0
Income from operations before income taxes	87,904	40,917
Income tax (expense) benefit	(6,006)	(13,636)
Net (loss) income	81,898	27,281
Less: Net (gain) loss attributable to noncontrolling interest	(459)	694
Net (loss) income attributable to Wabtec shareholders	81,439	27,975
Comprehensive income attributable to Wabtec shareholders	$ 29,022	$ 106,701

Guarantor Subsidiaries Financial Information - Cash Flows (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Condensed Financial Statements, Captions [Line Items]
Net cash (used for) provided by operating activities	$ 31,338	$ 24,200
Net cash provided by (used for) investing activities	(2,739,648)	(43,865)
Net cash (used for) provided by financing activities	882,990	28,668
Effect of changes in currency exchange rates	(4,164)	7,482
(Decrease) increase in cash	(1,829,484)	16,485
Cash, cash equivalents and restricted cash beginning of period	2,342,354	233,401
Cash and cash equivalents end of period	512,870	249,886
Elimination
Condensed Financial Statements, Captions [Line Items]
Net cash (used for) provided by operating activities	(22,417)	(7,808)
Net cash provided by (used for) investing activities	0	0
Net cash (used for) provided by financing activities	22,417	7,808
Effect of changes in currency exchange rates	0	0
(Decrease) increase in cash	0	0
Cash, cash equivalents and restricted cash beginning of period	0	0
Cash and cash equivalents end of period	0	0
Parent \| Reportable Legal Entities
Condensed Financial Statements, Captions [Line Items]
Net cash (used for) provided by operating activities	(118,411)	(9,439)
Net cash provided by (used for) investing activities	6,898,021	(1,759)
Net cash (used for) provided by financing activities	(8,557,004)	22,973
Effect of changes in currency exchange rates	0	0
(Decrease) increase in cash	(1,777,394)	11,775
Cash, cash equivalents and restricted cash beginning of period	1,782,682	933
Cash and cash equivalents end of period	5,288	12,708
Guarantors \| Reportable Legal Entities
Condensed Financial Statements, Captions [Line Items]
Net cash (used for) provided by operating activities	24,140	50,789
Net cash provided by (used for) investing activities	(1,601)	(3,693)
Net cash (used for) provided by financing activities	(22,458)	(49,808)
Effect of changes in currency exchange rates	0	0
(Decrease) increase in cash	81	(2,712)
Cash, cash equivalents and restricted cash beginning of period	(119)	4,802
Cash and cash equivalents end of period	(38)	2,090
Non-Guarantors \| Reportable Legal Entities
Condensed Financial Statements, Captions [Line Items]
Net cash (used for) provided by operating activities	148,026	(9,342)
Net cash provided by (used for) investing activities	(9,636,068)	(38,413)
Net cash (used for) provided by financing activities	9,440,035	47,695
Effect of changes in currency exchange rates	(4,164)	7,482
(Decrease) increase in cash	(52,171)	7,422
Cash, cash equivalents and restricted cash beginning of period	559,791	227,666
Cash and cash equivalents end of period	$ 507,620	$ 235,088

Other Income (Expense), Net (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Other Income and Expenses [Abstract]
Foreign currency (loss) gain	$ (12,682)	$ (1,032)
Equity income	929	629
Expected return on pension assets/amortization	3,376	3,023
Other miscellaneous expense (income)	149	(34)
Total other (expense) income, net	$ (8,228)	$ 2,586

- Definition

This item represents the entity's proportionate share for the period of the net income (loss) of its investee (such as unconsolidated subsidiaries and joint ventures) to which the equity method of accounting is applied. This item includes income or expense related to stock-based compensation based on the investor's grant of stock to employees of an equity method investee.

+ References + Details