CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Sep. 30, 2016	Dec. 31, 2015
Current Assets
Cash and cash equivalents	$ 250,382	$ 226,191
Accounts receivable	477,500	494,975
Unbilled accounts receivable	146,726	103,814
Inventories	495,998	478,574
Deposit in escrow	210,025	202,942
Deferred income taxes	75,741	71,658
Other current assets	38,760	33,524
Total current assets	1,695,132	1,611,678
Property, plant and equipment	750,547	717,295
Accumulated depreciation	(392,577)	(364,102)
Property, plant and equipment, net	357,970	353,193
Other Assets
Goodwill	877,054	858,532
Other intangibles, net	457,262	440,534
Other noncurrent assets	40,739	32,909
Total other assets	1,375,055	1,331,975
Total Assets	3,428,157	3,296,846
Current Liabilities
Accounts payable	276,539	319,525
Customer deposits	108,718	106,127
Accrued compensation	54,984	69,892
Accrued warranty	76,465	72,678
Current portion of long-term debt	134	433
Other accrued liabilities	108,095	96,121
Total current liabilities	624,935	664,776
Long-term debt	819,770	691,805
Accrued postretirement and pension benefits	55,609	55,765
Deferred income taxes	156,900	139,852
Accrued warranty	17,645	19,386
Other long-term liabilities	22,807	23,923
Total liabilities	1,697,666	1,595,507
Commitments and contingent liabilities (Note15)
Shareholders’ Equity
Preferred stock, 1,000,000 shares authorized, no shares issued	0	0
Common stock, $0.01 par value; 200,000,000 shares authorized: 132,349,534 shares issued and 89,065,387 and 91,836,106 outstanding at June 30, 2016 and December 31, 2015, respectively	1,323	1,323
Additional paid-in capital	470,908	469,326
Treasury stock, at cost, 43,284,147 and 40,513,428 shares, at September 30, 2016 and December 31, 2015, respectively	(983,456)	(775,124)
Retained earnings	2,524,354	2,280,801
Accumulated other comprehensive loss	(286,055)	(276,719)
Total Westinghouse Air Brake Technologies Corporation shareholders' equity	1,727,074	1,699,607
Non-controlling interest (minority interest)	3,417	1,732
Total shareholders’ equity	1,730,491	1,701,339
Total Liabilities and Shareholders’ Equity	$ 3,428,157	$ 3,296,846

Carrying value as of the balance sheet date of liabilities incurred (and for which invoices have typically been received) and payable to vendors for goods and services received that are used in an entity's business. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer).

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- Definition

Amount due from customers or clients, within one year of the balance sheet date (or the normal operating cycle, whichever is longer), for goods or services (including trade receivables) that have been delivered or sold in the normal course of business, reduced to the estimated net realizable fair value by an allowance established by the entity of the amount it deems uncertain of collection.