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GUARANTOR SUBSIDIARIES FINANCIAL INFORMATION
 12 Months Ended
Dec. 31, 2019
Condensed Financial Information Disclosure [Abstract]  
GUARANTOR SUBSIDIARIES FINANCIAL INFORMATION GUARANTOR SUBSIDIARIES FINANCIAL INFORMATION
The obligations under the Company's Senior Notes and Senior Credit Facility are fully and unconditionally guaranteed by certain of the Company's U.S. subsidiaries as guarantors. Each guarantor is 100% owned by the parent company, with the exception of GE Transportation, a Wabtec company, which has 15,000 shares outstanding of Class A non-voting preferred stock held by General Electric 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 December 31, 2019:
In millionsParentGuarantorsNon-GuarantorsEliminationConsolidated
Cash, cash equivalents, and restricted cash$24.0  $14.7  $565.5  $—  $604.2  
Receivables, net103.5  298.2  1,262.2  —  1,663.9  
Inventories135.3  763.1  874.7  —  1,773.1  
Current assets - other(0.8) 22.0  129.7  —  150.9  
Total current assets262.0  1,098.0  2,832.1  —  4,192.1  
Property, plant and equipment73.2  65.0  1,517.6  —  1,655.8  
Goodwill564.1  283.2  7,513.3  —  8,360.6  
Investment in subsidiaries15,566.2  6,583.9  —  (22,150.1) —  
Other intangibles, net35.8  731.2  3,337.0  —  4,104.0  
Other long term assets105.6  116.2  409.9  —  631.7  
Total assets$16,606.9  $8,877.5  $15,609.9  $(22,150.1) $18,944.2  
Current liabilities$586.0  $1,109.6  $1,562.4  $—  $3,258.0  
Inter-company1,357.6  (2,546.3) 1,188.7  —  —  
Long-term debt4,321.8  —  11.8  —  4,333.6  
Long-term liabilities - other385.0  154.1  819.9  —  1,359.0  
Total liabilities6,650.4  (1,282.6) 3,582.8  —  8,950.6  
Shareholders' equity9,941.5  10,160.1  12,005.0  (22,150.1) 9,956.5  
Non-controlling interest15.0  —  22.1  —  37.1  
Total shareholders' equity$9,956.5  $10,160.1  $12,027.1  $(22,150.1) $9,993.6  
Total Liabilities and Shareholders' Equity$16,606.9  $8,877.5  $15,609.9  $(22,150.1) $18,944.2  
Balance Sheet for December 31, 2018:
In millionsParentGuarantorsNon-GuarantorsEliminationConsolidated
Cash and cash equivalents$1,782.6  $(0.1) $559.8  $—  $2,342.3  
Receivables, net106.8  61.5  978.5  —  1,146.8  
Inventories149.7  69.1  626.1  —  844.9  
Current assets - other11.9  0.7  103.0  —  115.6  
Total current assets2,051.0  131.2  2,267.4  —  4,449.6  
Property, plant and equipment51.6  24.8  487.4  —  563.8  
Goodwill25.3  283.2  2,088.0  —  2,396.5  
Investment in subsidiaries6,708.0  4,022.1  —  (10,730.1) —  
Other intangibles, net29.3  78.5  1,022.1  —  1,129.9  
Other long term assets8.8  0.1  100.5  —  109.4  
Total assets$8,874.0  $4,539.9  $5,965.4  $(10,730.1) $8,649.2  
Current liabilities$264.5  $91.0  $1,291.1  $—  $1,646.6  
Inter-company1,947.5  (1,436.2) (511.3) —  —  
Long-term debt3,779.7  —  13.1  —  3,792.8  
Long-term liabilities - other17.1  48.6  275.0  —  340.7  
Total liabilities6,008.8  (1,296.6) 1,067.9  —  5,780.1  
Shareholders' equity2,865.2  5,836.5  4,893.6  (10,730.1) 2,865.2  
Non-controlling interest—  —  3.9  —  3.9  
Total shareholders' equity$2,865.2  $5,836.5  $4,897.5  $(10,730.1) $2,869.1  
Total Liabilities and Shareholders' Equity$8,874.0  $4,539.9  $5,965.4  $(10,730.1) $8,649.2  
Income Statement for the Year Ended December 31, 2019:
In millionsParentGuarantorsNon-GuarantorsEliminationConsolidated
Net sales$723.4  $3,245.3  $5,766.3  $(1,535.0) $8,200.0  
Cost of sales(562.1) (2,429.2) (4,129.4) 1,198.7  (5,922.0) 
Gross profit (loss)161.3  816.1  1,636.9  (336.3) 2,278.0  
Total operating expenses(321.6) (311.5) (981.8) —  (1,614.9) 
Income (loss) from operations(160.3) 504.6  655.1  (336.3) 663.1  
Interest (expense) income, net(214.8) 12.5  (16.8) —  (219.1) 
Other (expense) income, net(131.5) (11.1) 145.4  —  2.8  
Equity earnings (loss)809.5  613.4  —  (1,422.9) —  
Pretax income (loss)302.9  1,119.4  783.7  (1,759.2) 446.8  
Income tax expense23.8  (97.0) (47.1) —  (120.3) 
Net income (loss)326.7  1,022.4  736.6  (1,759.2) 326.5  
Less: Net loss attributable to noncontrolling interest—  —  0.2  —  0.2  
Net income (loss) attributable to Wabtec shareholders$326.7  $1,022.4  $736.8  $(1,759.2) $326.7  
Comprehensive income (loss) attributable to Wabtec shareholders$326.7  $1,022.4  $610.8  $(1,759.2) $200.7  
Income Statement for the Year Ended December 31, 2018:
In millionsParentGuarantorsNon-GuarantorsEliminationConsolidated
Net sales$671.0  $483.1  $3,442.2  $(232.8) $4,363.5  
Cost of sales(495.1) (304.3) (2,462.5) 132.3  (3,129.6) 
Gross profit (loss)175.9  178.8  979.7  (100.5) 1,233.9  
Total operating expenses(173.0) (57.3) (530.2) —  (760.5) 
Income (loss) from operations2.9  121.5  449.5  (100.5) 473.4  
Interest (expense) income, net(110.8) 12.8  (14.2) —  (112.2) 
Other income (expense), net13.5  —  (7.1) —  6.4  
Equity earnings (loss)396.9  369.4  —  (766.3) —  
Pretax income (loss)302.5  503.7  428.2  (866.8) 367.6  
Income tax expense(7.6) (3.3) (65.0) —  (75.9) 
Net income (loss)294.9  500.4  363.2  (866.8) 291.7  
Less: Net loss attributable to noncontrolling interest—  —  3.2  —  3.2  
Net income (loss) attributable to Wabtec shareholders$294.9  $500.4  $366.4  $(866.8) $294.9  
Comprehensive income (loss) attributable to Wabtec shareholders$295.8  $500.4  $153.9  $(866.8) $83.3  
Income Statement for the Year Ended December 31, 2017:
In millionsParentGuarantorsNon-GuarantorsEliminationConsolidated
Net sales$577.4  $398.2  $3,035.4  $(129.3) $3,881.7  
Cost of sales(440.9) (255.8) (2,218.4) 98.7  (2,816.4) 
Gross profit (loss)136.5  142.4  817.0  (30.6) 1,065.3  
Total operating expenses(114.2) (50.9) (479.1) —  (644.2) 
Income (loss) from operations22.3  91.5  337.9  (30.6) 421.1  
Interest (expense) income, net(76.8) 10.9  (12.0) —  (77.9) 
Other income (expense), net10.0  0.3  (1.4) —  8.9  
Equity earnings (loss)416.1  317.6  —  (733.7) —  
Pretax income (loss)371.6  420.3  324.5  (764.3) 352.1  
Income tax (expense) benefit(109.3) 18.8  0.7  —  (89.8) 
Net income (loss)262.3  439.1  325.2  (764.3) 262.3  
Less: Net income attributable to noncontrolling interest—  —  —  —  —  
Net income (loss) attributable to Wabtec shareholders$262.3  $439.1  $325.2  $(764.3) $262.3  
Comprehensive income (loss) attributable to Wabtec shareholders$263.9  $439.1  $658.2  $(764.3) $596.9  
Condensed Statement of Cash Flows for the year ended December 31, 2019:
In millionsParentGuarantorsNon-GuarantorsEliminationConsolidated
Net cash (used in) provided by operating activities$(321.2) $419.4  $1,253.6  $(336.3) $1,015.5  
Net cash provided by (used for) investing activities6,849.3  (1,140.5) (8,886.6) —  (3,177.8) 
Net cash (used in) provided by financing activities(8,286.7) 735.9  7,676.0  336.3  461.5  
Effect of changes in currency exchange rates—  —  (37.3) —  (37.3) 
(Decrease) increase in cash(1,758.6) 14.8  5.7  —  (1,738.1) 
Cash and cash equivalents, beginning of year1,782.6  (0.1) 559.8  —  2,342.3  
Cash, cash equivalents, and restricted cash, end of year$24.0  $14.7  $565.5  $—  $604.2  
Condensed Statement of Cash Flows for the year ended December 31, 2018:
In millionsParentGuarantorsNon-GuarantorsEliminationConsolidated
Net cash (used in) provided by operating activities$(87.2) $130.1  $372.3  $(100.5) $314.7  
Net cash used in investing activities(16.8) (2.0) (128.5) —  (147.3) 
Net cash provided by (used in) financing activities1,885.7  (128.8) 120.7  100.5  1,978.1  
Effect of changes in currency exchange rates—  —  (36.6) —  (36.6) 
Increase (decrease) in cash1,781.7  (0.7) 327.9  —  2,108.9  
Cash and cash equivalents, beginning of year0.9  0.6  231.9  —  233.4  
Cash, cash equivalents, and restricted cash, end of year$1,782.6  $(0.1) $559.8  $—  $2,342.3  
Condensed Statement of Cash Flows for the year ended December 31, 2017:
In millionsParentGuarantorsNon-GuarantorsEliminationConsolidated
Net cash (used in) provided by operating activities$(49.2) $130.3  $138.3  $(30.6) $188.8  
Net cash used in investing activities(11.2) (3.4) (1,018.9) —  (1,033.5) 
Net cash provided by (used in) financing activities58.8  (127.5) (59.3) 30.6  (97.4) 
Effect of changes in currency exchange rates—  —  32.3  —  32.3  
(Decrease) increase in cash(1.6) (0.6) (907.6) —  (909.8) 
Cash, cash equivalents, and restricted cash, beginning of year2.5  1.2  1,139.5  —  1,143.2  
Cash and cash equivalents, end of year$0.9  $0.6  $231.9  $—  $233.4