ACQUISITIONS (Tables)

12 Months Ended

Dec. 31, 2020

Summary of Fair Value of Assets Acquired and Liabilities Assumed

The following table summarizes the final fair value of the GE Transportation assets acquired and liabilities assumed:


In millions
Assets acquired
Cash and cash equivalents	$	177.2
Accounts receivable	541.3
Inventories	1,189.7
Other current assets	71.5
Property, plant, and equipment	1,088.6
Goodwill	5,983.5
Trade names	55.0
Customer relationships	550.0
Intellectual property	1,180.0
Backlog	1,450.0
Other noncurrent assets	321.2
Total assets acquired	12,608.0
Liabilities assumed
Current liabilities	1,594.2
Contingent consideration	440.0
Other noncurrent liabilities	666.5
Total liabilities assumed	2,700.7
Net assets acquired	9,907.3
Noncontrolling interest	$	88.3

Pro Forma Financial Information

The following unaudited pro forma consolidated financial information presents income statement results as if the GE Transportation acquisition had occurred January 1, 2019:


In millions, except per share data	Twelve Months Ended December 31, 2019
Net sales	$	8,675.6
Gross profit	2,343.3
Net income attributable to Wabtec shareholders	277.2
Diluted earnings per share
As Reported	$	1.84
Pro forma	$	1.45