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SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	12 Months Ended
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	Dec. 31, 2019
Accounting Policies [Abstract]
Principles of Consolidation	The consolidated financial statements include the accounts of the Company and all subsidiaries that it controls. For consolidated subsidiaries in which the Company's ownership is less than 100%, the outside shareholders' interests are shown as noncontrolling interests. These statements have been prepared in accordance with U.S. generally accepted accounting principles. Sales between subsidiaries are billed at prices consistent with sales to third parties and are eliminated in consolidation.
Cash Equivalents	Cash equivalents are highly liquid investments purchased with an original maturity of three months or less.
Allowance for Doubtful Accounts	The allowance for doubtful accounts receivable reflects our best estimate of probable losses inherent in our receivable portfolio determined on the basis of historical experience, specific allowances for known troubled accounts and other currently available evidence.
Inventories	Inventories are stated at the lower of cost or market. Cost is determined under the first-in, first-out (FIFO) method. Inventory costs include material, labor and overhead.
Property, Plant and Equipment	Property, plant and equipment additions are stated at cost. Expenditures for renewals and improvements are capitalized. Expenditures for ordinary maintenance and repairs are expensed as incurred. The Company computes book depreciation principally on the straight-line method. Accelerated depreciation methods are utilized for income tax purposes.
Leasing Arrangements	The Company conducts a portion of its operations from leased facilities and finances certain equipment purchases through lease agreements. In those cases in which the lease term approximates the useful life of the leased asset or the lease meets certain other prerequisites, the leasing arrangement is classified as a financing lease. The remaining arrangements are treated as operating leases. Right-of-use lease assets are classified as long-term assets under the caption "Other noncurrent assets" and lease liabilities are classified under the captions "Other accrued liabilities' and "Other long-term liabilities."
Goodwill and Intangible Assets	Goodwill and other intangible assets with indefinite lives are not amortized. Other intangibles (with definite lives) are amortized on a straight-line basis over their estimated economic lives. Amortizable intangible assets are reviewed for impairment when indicators of impairment are present. The Company tests goodwill and indefinite-lived intangible assets for impairment at the reporting unit level and at least annually. The Company performs its annual impairment test during the fourth quarter after the annual forecasting process is completed, and also tests for impairment whenever events or changes in circumstances indicate that the carrying value may not be recoverable. Periodically, Management of the Company assesses whether or not an indicator of impairment is present that would necessitate an impairment analysis be performed. For 2019, the Company opted to proceed directly to the quantitative impairment test for all reporting units with goodwill. The discounted cash flow approach and the market approach were used to estimate the fair value of each reporting unit using a weighting of 75% and 25%, respectively. The discounted cash flow model requires several assumptions including future sales growth, EBIT (earnings before interest and taxes) margins, capital expenditures, a discount rate and a terminal revenue growth rate (the revenue growth rate for the period beyond the years forecasted by the reporting units) for each reporting unit. The market approach requires several assumptions including EBITDA (earnings before interest, taxes, depreciation and amortization) multiples for comparable companies that operate in the same markets as the Company’s reporting units. The estimated fair value of all reporting units was in excess of its respective carrying value, which resulted in a conclusion that no impairment existed. Additionally, the Company proceeded directly to the quantitative impairment test for some trade names with indefinite lives. The fair value of all material trade names subject to the quantitative impairment test exceeded its respective carrying value, resulting in a conclusion that no material impairment existed. For trade names not subject to the quantitative testing, the Company opted to perform a qualitative trade name impairment assessment and determined from the qualitative assessment that it was not more likely than not that the estimated fair values of the trade names were less than their carrying values; therefore, no further analysis was required. In assessing the qualitative factors to determine whether it is more likely than not that the fair value of a trade name is less than its carrying amount, we assess relevant events and circumstances that may impact the fair value and the carrying amount of the trade name. The identification of relevant events and circumstances and how these may impact a trade name’s fair value or carrying amount involve significant judgments and assumptions. The judgment and assumptions include the identification of macroeconomic conditions, industry and market considerations, cost factors, overall financial performance, Wabtec specific events, share price trends and making the assessment on whether each relevant factor will impact the impairment test positively or negatively and the magnitude of any such impact.
Equity Method Investments	The Company invests in privately-held companies which are accounted for using the equity method. The equity method is applied in situations where the Company has the ability to exercise significant influence, but not control, over the investee.
Warranty Costs	Warranty costs are accrued based on Management’s estimates of repair or upgrade costs per unit and historical experience.
Income Taxes	Income taxes are accounted for under the liability method. Deferred tax assets and liabilities are determined based on differences between financial reporting and tax basis of assets and liabilities and are measured using the enacted tax rates and laws. The provision for income taxes includes federal, state and foreign income taxes.
Stock-Based Compensation	The Company recognizes compensation expense for stock-based compensation based on the grant date fair value amortized ratably over the requisite service period following the date of grant.
Financial Derivatives and Hedging Activities	In the normal course of business, the Company is exposed to interest rate, commodity price and foreign currency exchange rate fluctuations. At times, the Company limits these risks through the use of derivatives such as cross-currency swaps, foreign currency forward contracts, interest rate swaps, commodity forwards and futures. In accordance with the Company's policy, derivatives are only used for hedging purposes. The Company does not use derivatives for trading or speculative purposes. Foreign currency forward contracts are agreements with a counterparty to exchange two distinct currencies at a set exchange rate for delivery on a set date at some point in the future. There is no exchange of funds until the delivery date.
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, the Company has classified noncontrolling interests as equity on our condensed consolidated balance sheets as of December 31, 2019 and 2018.
Revenue Recognition and Shipping and Handling Fees and Costs	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. A majority of the Company’s revenues are derived from performance obligations that are satisfied at a point in time when control passes to the customer which is generally at the time of shipment in accordance with agreed upon delivery terms. The remaining revenues are earned over time. 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 periodically through the year 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 $109.4 million at December 31, 2019 and were not material at December 31, 2018. 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 pre-production 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 $77.0 million at December 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 and 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 $118.5 million and $71.2 million at December 31, 2019 and 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 process where management reviews the progress of long term-projects periodically throughout the year. 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 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. 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, price escalation clauses, 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 allocated transaction price of unsatisifed or partially unsatisfied performance obligations. As of December 31, 2019, the Company's remaining performance obligations were $21.3 billion. The Company expects to recognize revenue of approximately 25% of remaining performance obligations over the next 12 months, with the remainder recognized thereafter. SEC regulations require that revenue categories that exceed 10% of total revenue are presented separately on the company's statement of income. As such, the Company has displayed sales of goods and sales of services, and the related cost, in line with those regulations. Additionally, those regulations also require that goods are to include all sales of tangible products, and services must include all other sales. In Note 21 we refer to sales of both goods, such as spare parts and equipment upgrades, and related services, such as monitoring, maintenance and repairs, as sales in our Services product line. Letters of Credit In the ordinary course of its business, the Company issues letters of credit related to commercial products. The outstanding amount, including the letters of credit issues under the credit facility, were $714.0 million and $354.2 million at December 31, 2019 and 2018, respectively. Pre-Production Costs Certain pre-production costs relating to long-term production and supply contracts have been deferred and will be recognized over the life of the contracts. Deferred pre-production costs were $88.0 million and $16.4 million at December 31, 2019 and 2018, respectively. All fees billed to the customer for shipping and handling are classified as a component of net revenues. All costs associated with shipping and handling are classified as a component of cost of sales.
Significant Customers and Concentrations of Credit Risk	The Company’s trade receivables are primarily from rail and transit industry original equipment manufacturers, Class I railroads, railroad carriers and commercial companies that utilize rail cars in their operations, such as utility and chemical companies. No one customer accounted for more than 10% of the Company’s consolidated net sales in 2019, 2018 or 2017.
Research and Development	expenses are charged to expense as incurred.
Earnings Per Share	Basic and diluted earnings per common share is computed in accordance with ASC 260 “Earnings Per Share.” Unvested share-based payment awards that contain nonforfeitable rights to dividends or dividend equivalents (whether paid or unpaid) are participating securities and included in the computation of earnings per share pursuant to the two-class method included in ASC 260-10-55 (See Note 12 “Earnings Per Share” included herein)
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 materially 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.
Recently Issued and Adopted Accounting Pronouncements	Recently Issued Accounting Pronouncements In December 2019, the Financial Accounting Standards Board ("FASB") issued ASU 2019-12, “Income Taxes: Simplifying the Accounting for Income Taxes.” The amendments in this update simplify the accounting for certain income tax transactions by removing specific exceptions to the general principles in Topic 740, Income Taxes. This guidance is effective for fiscal years beginning after December 15, 2020 with early adoption permitted. The Company is currently evaluating the potential impact of adopting this guidance on its consolidated financial statements. In January 2017, the 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 greater than the carrying value as of the Company's last quantitative goodwill impairment test, which was performed as of October 1, 2019. In June 2016, FASB issued ASU 2016-13, "Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments." This updated guidance sets forth a current expected credit loss model based on expected losses. Under this model, an entity recognizes an allowance for expected credit losses based on historical experience, current conditions and forecasted information rather than the current methodology of delaying recognition of credit losses until it is probable a loss has been incurred. This guidance is effective for fiscal years beginning after December 15, 2019 with early adoption permitted. The Company has evaluated the potential impact of adopting this guidance on its consolidated financial statements and does not expect the impact of adopting this new standard to be material. 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 AOCI 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 Note 15.

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions	Dec. 31, 2019	Dec. 31, 2018
Current Assets
Cash and cash equivalents	$ 604.2	$ 580.9
Restricted cash	0.0	1,761.4
Accounts receivable	1,149.9	801.2
Unbilled accounts receivables	514.0	345.6
Inventories	1,773.1	844.9
Other current assets	150.9	115.6
Total current assets	4,192.1	4,449.6
Property, plant and equipment	2,216.0	1,036.6
Accumulated depreciation	(560.2)	(472.8)
Property, plant and equipment, net	1,655.8	563.8
Other Assets
Goodwill	8,360.6	2,396.5
Other intangibles, net	4,104.0	1,129.9
Other noncurrent assets	631.7	109.4
Total other assets	13,096.3	3,635.8
Total Assets	18,944.2	8,649.2
Current Liabilities
Accounts payable	1,157.5	589.4
Customer deposits	604.2	373.5
Accrued compensation	343.8	173.2
Accrued warranty	226.5	135.6
Less - current portion	95.7	64.1
Other accrued liabilities	830.3	310.8
Total current liabilities	3,258.0	1,646.6
Long-term debt	4,333.6	3,792.8
Accrued postretirement and pension benefits	113.0	95.4
Deferred income taxes	145.3	198.3
Contingent consideration	291.8	0.0
Other long term liabilities	808.9	47.0
Total Liabilities	8,950.6	5,780.1
Commitment and Contingencies (Note 20)
Equity
Convertible preferred stock, $.01 par value; 1,000,000 shares authorized, no shares issued and outstanding, at December 31, 2019 and December 31, 2018	0.0	0.0
Common stock, $.01 par value; 500,000,000 shares authorized: 226,947,180 and 132,349,534 shares issued and 191,699,193 and 96,614,946 outstanding at December 31, 2019 and December 31, 2018, respectively	2.0	1.3
Additional paid-in capital	7,877.2	914.6
Treasury stock, at cost, 35,247,987 and 35,734,588 shares, at December 31, 2019 and December 31, 2018, respectively	(807.1)	(816.1)
Retained earnings	3,267.0	3,022.0
Accumulated other comprehensive loss	(382.6)	(256.6)
Total Westinghouse Air Brake Technologies Corporation shareholders’ equity	9,956.5	2,865.2
Noncontrolling interest	37.1	3.9
Total Equity	9,993.6	2,869.1
Total Liabilities and Equity	$ 18,944.2	$ 8,649.2

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Statement of Comprehensive Income [Abstract]
Net income attributable to Wabtec shareholders	$ 326.7	$ 294.9	$ 262.3
Foreign currency translation (loss) gain	(106.4)	(207.3)	326.1
Unrealized (loss) gain on derivative contracts	(4.3)	(5.3)	9.8
Unrealized (loss) gain on pension benefit plans and post-retirement benefit plans	(21.5)	(3.8)	2.8
Other comprehensive (loss) gain before tax	(132.2)	(216.4)	338.7
Income tax benefit (expense) related to components of other comprehensive loss	6.2	4.8	(4.1)
Other comprehensive (loss) income, net of tax	(126.0)	(211.6)	334.6
Comprehensive income attributable to Wabtec shareholders	$ 200.7	$ 83.3	$ 596.9

- Definition

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

+ References + Details

FAIR VALUE MEASUREMENT AND FAIR VALUE OF FINANCIAL INSTRUMENTS (Tables)

12 Months Ended

Dec. 31, 2019

Fair Value Disclosures [Abstract]

Liabilities Carried at Fair Value Measured on Recurring Basis

The following table provides the assets and liabilities carried at fair value measured on a recurring basis as of December 31, 2019, which are included in other current assets and liabilities on the Consolidated Balance sheet:


		Fair Value Measurements at December 31, 2019 Using
	Total Carrying Value at December 31,	Quoted Prices in Active Markets for Identical Assets	Significant Other Observable Inputs	Significant Unobservable Inputs
In millions	2019	(Level 1)	(Level 2)	(Level 3)
Foreign Exchange Contracts
Other Current Assets	12.6	—	12.6	—
Other Current Liabilities	9.8	—	9.8	—
Cross-Currency Swap Agreement
Other Current Liabilities	9.4	—	9.4	—

CONTRACT ASSETS AND CONTRACT LIABILITIES (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Contract Assets
Balance at beginning of year	$ 345.6	$ 366.2
Acquisitions	237.5	0.0
Recognized in current year	619.3	426.8
Reclassified to accounts receivable	(578.6)	(432.3)
Foreign currency impact	(0.4)	(15.1)
Balance at December 31	623.4	345.6
Contract Liabilities
Balance at beginning of year	444.8	463.7
Acquisitions	333.9	0.0
Recognized in current year	917.5	230.1
Amounts in beginning balance reclassified to revenue	(410.6)	(199.7)
Current year amounts reclassified to revenue	(483.5)	(30.9)
Foreign currency impact	(2.4)	(18.4)
Balance at December 31	$ 799.7	$ 444.8

CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY - USD ($) $ in Millions	Total	Common Stock	Additional Paid-in Capital	Treasury Stock	Retained Earnings	Accumulated Other Comprehensive Income (Loss)	Noncontrolling Interest
Beginning balance (in shares) at Dec. 31, 2016		132,349,534		36,924,102
Balance beginning of period at Dec. 31, 2016	$ 2,976.8	$ 1.3	$ 870.0	$ (839.0)	$ 2,553.3	$ (379.6)	$ 770.8
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Cash dividends	(42.2)				(42.2)
Proceeds from treasury stock issued from the exercise of stock options and other benefit plans, net of tax	(2.4)		(7.4)	$ 5.0
Proceeds from treasury stock issued from the exercise of stock options and other benefit plans, net of tax, shares (in shares)				608,920
Stock based compensation	16.7		16.7
Acquisition of Faiveley Transport noncontrolling interest	(742.2)		8.9				(751.1)
Net income (loss)	262.3				262.3
Other comprehensive income, net of tax	334.6					334.6
Acquisition of GE Transportation	25.0		18.4	$ 6.6
Ending balance (in shares) at Dec. 31, 2017		132,349,534		36,315,182
Balance end of period at Dec. 31, 2017	2,828.6	$ 1.3	906.6	$ (827.4)	2,773.4	(45.0)	19.7
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Cash dividends	(46.3)				(46.3)
Proceeds from treasury stock issued from the exercise of stock options and other benefit plans, net of tax	(2.2)		(13.5)	$ 11.3
Proceeds from treasury stock issued from the exercise of stock options and other benefit plans, net of tax, shares (in shares)				580,594
Stock based compensation	21.5		21.5
Net income (loss)	291.7				294.9		(3.2)
Other comprehensive income, net of tax	(211.6)					(211.6)
Stock issued for Faiveley Transport Acquisition	(12.6)						(12.6)
Ending balance (in shares) at Dec. 31, 2018		132,349,534		35,734,588
Balance end of period at Dec. 31, 2018	2,869.1	$ 1.3	914.6	$ (816.1)	3,022.0	(256.6)	3.9
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Cash dividends	(80.3)
Cash dividends	(81.7)				(81.7)
Proceeds from treasury stock issued from the exercise of stock options and other benefit plans, net of tax	(5.6)		(14.6)	$ 9.0
Proceeds from treasury stock issued from the exercise of stock options and other benefit plans, net of tax, shares (in shares)				486,601
Stock based compensation	38.2		38.2
Net income (loss)	326.5				326.7		(0.2)
Other comprehensive income, net of tax	(126.0)					(126.0)
Acquisition of GE Transportation (in shares)		94,597,646
Acquisition of GE Transportation	6,970.3	$ 0.7	6,939.0				30.6
Other owner changes	2.8						2.8
Ending balance (in shares) at Dec. 31, 2019		226,947,180		35,247,987
Balance end of period at Dec. 31, 2019	$ 9,993.6	$ 2.0	$ 7,877.2	$ (807.1)	$ 3,267.0	$ (382.6)	$ 37.1

PROPERTY, PLANT & EQUIPMENT - Estimated Useful Lives of Property Plant and Equipment (Details)	12 Months Ended
	Dec. 31, 2019
Land improvements \| Minimum
Property Plant And Equipment [Line Items]
Estimated useful lives in years	10 years
Land improvements \| Maximum
Property Plant And Equipment [Line Items]
Estimated useful lives in years	20 years
Building and improvements \| Minimum
Property Plant And Equipment [Line Items]
Estimated useful lives in years	20 years
Building and improvements \| Maximum
Property Plant And Equipment [Line Items]
Estimated useful lives in years	40 years
Machinery and equipment \| Minimum
Property Plant And Equipment [Line Items]
Estimated useful lives in years	3 years
Machinery and equipment \| Maximum
Property Plant And Equipment [Line Items]
Estimated useful lives in years	15 years

LONG-TERM DEBT - Schedule of Line of Credit Facilities (Details) - USD ($)	Dec. 31, 2019	Dec. 31, 2018
Debt Instrument [Line Items]
Maximum Availability	$ 1,200,000,000.0
Outstanding Borrowings	232,000,000.0
Letters of Credit Under Credit Agreement	714,000,000.0	$ 354,200,000
Current Availability	938,000,000.0
Line of Credit
Debt Instrument [Line Items]
Letters of Credit Under Credit Agreement	$ 30,000,000.0

- Definition

The carrying value as of the balance sheet date of the current and noncurrent portions of long-term obligations drawn from a line of credit, which is a bank's commitment to make loans up to a specific amount. Examples of items that might be included in the application of this element may consist of letters of credit, standby letters of credit, and revolving credit arrangements, under which borrowings can be made up to a maximum amount as of any point in time conditional on satisfaction of specified terms before, as of and after the date of drawdowns on the line. Includes short-term obligations that would normally be classified as current liabilities but for which (a) postbalance sheet date issuance of a long term obligation to refinance the short term obligation on a long term basis, or (b) the enterprise has entered into a financing agreement that clearly permits the enterprise to refinance the short-term obligation on a long term basis and the following conditions are met (1) the agreement does not expire within 1 year and is not cancelable by the lender except for violation of an objectively determinable provision, (2) no violation exists at the BS date, and (3) the lender has entered into the financing agreement is expected to be financially capable of honoring the agreement.

+ References + Details

LEASES (Tables)

12 Months Ended

Dec. 31, 2019

Leases [Abstract]

Lease Expense, Term and Discount Rate

The components of lease expense are as follows:


	For the year ended Ended December 31,
In millions	2019
Operating lease expense	$	54.4
Finance lease expense amortization of leased assets	1.1
Short-term and variable lease expense	0.6
Sublease income	(0.5)
Total	$	55.6

The following table summarizes the remaining lease term and discount rate assumptions used to develop the present value of lease liabilities:


	December 31,
	2019
Weighted-average remaining lease term (years)
Operating leases	7.0
Finance leases	5.2
Weighted-average discount rate
Operating leases	4.6	%
Finance leases	1.4	%

Maturity of Operating Lease Liabilities

Scheduled payments of lease liabilities are as follows:


In millions	Operating Leases		Finance Leases		Total
2020	$	53.9	$	0.4	$	54.3
2021	45.3		0.2		45.5
2022	38.1		0.2		38.3
2023	33.4		0.2		33.6
2024	29.3		0.1		29.4
Thereafter	103.2		0.2		103.4
Total lease payments	303.2		1.3		304.5
Less: Present value discount	(30.1)		—		(30.1)
Present value lease liabilities	$	273.1	$	1.3	$	274.4

Maturity of Finance Lease Liabilities

Scheduled payments of lease liabilities are as follows:


In millions	Operating Leases		Finance Leases		Total
2020	$	53.9	$	0.4	$	54.3
2021	45.3		0.2		45.5
2022	38.1		0.2		38.3
2023	33.4		0.2		33.6
2024	29.3		0.1		29.4
Thereafter	103.2		0.2		103.4
Total lease payments	303.2		1.3		304.5
Less: Present value discount	(30.1)		—		(30.1)
Present value lease liabilities	$	273.1	$	1.3	$	274.4

INVENTORIES

12 Months Ended

Dec. 31, 2019

Inventory Disclosure [Abstract]

INVENTORIES

The components of inventory, net of reserves, were:


	December 31,
In millions	2019		2018
Raw materials	$	786.4	$	465.9
Work-in-progress	374.0		154.5
Finished goods	612.7		224.5
Total inventories	$	1,773.1	$	844.9

INVENTORIES (Detail) - USD ($) $ in Millions	Dec. 31, 2019	Dec. 31, 2018
Inventory Disclosure [Abstract]
Raw materials	$ 786.4	$ 465.9
Work-in-progress	374.0	154.5
Finished goods	612.7	224.5
Total inventories	$ 1,773.1	$ 844.9

EMPLOYEE BENEFIT PLANS - Other Changes in Plan Assets and Benefit Obligations Recognized in Other Comprehensive Income (Details) - Defined Benefit Pension Plans $ in Millions	12 Months Ended
	Dec. 31, 2019 USD ($)
United States
Defined Benefit Plan Disclosure [Line Items]
Net gain (loss) arising during the year	$ 0.7
Effect of exchange rates	0.0
Amortization, settlement, or curtailment recognition of net transition obligation	0.0
Amortization or curtailment recognition of prior service cost	0.0
Amortization or settlement recognition of net loss	0.8
Total recognized in other comprehensive gain	1.5
Total recognized in net periodic benefit cost and other comprehensive gain	0.6
Foreign Plan
Defined Benefit Plan Disclosure [Line Items]
Net gain (loss) arising during the year	(20.3)
Effect of exchange rates	(2.1)
Amortization, settlement, or curtailment recognition of net transition obligation	0.4
Amortization or curtailment recognition of prior service cost	0.1
Amortization or settlement recognition of net loss	2.5
Total recognized in other comprehensive gain	(19.4)
Total recognized in net periodic benefit cost and other comprehensive gain	$ (19.9)

GUARANTOR SUBSIDIARIES FINANCIAL INFORMATION - Balance Sheet (Details) - USD ($) $ in Millions	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Condensed Financial Statements, Captions [Line Items]
Cash, cash equivalents, and restricted cash	$ 604.2	$ 2,342.3	$ 233.4	$ 1,143.2
Receivables, net	1,663.9	1,146.8
Inventories	1,773.1	844.9
Current assets - other	150.9	115.6
Total current assets	4,192.1	4,449.6
Property, plant and equipment	1,655.8	563.8	574.0
Goodwill	8,360.6	2,396.5
Investment in subsidiaries	0.0	0.0
Other intangibles, net	4,104.0	1,129.9
Other noncurrent assets	631.7	109.4
Total Assets	18,944.2	8,649.2	6,580.0
Current liabilities	3,258.0	1,646.6
Inter-company	0.0	0.0
Long-term Debt and Lease Obligation	4,333.6	3,792.8
Long-term liabilities - other	1,359.0	340.7
Total Liabilities	8,950.6	5,780.1
Shareholders' equity	9,956.5	2,865.2
Noncontrolling interest	37.1	3.9
Total Equity	9,993.6	2,869.1	2,828.6	2,976.8
Total Liabilities and Equity	18,944.2	8,649.2
Elimination
Condensed Financial Statements, Captions [Line Items]
Cash, cash equivalents, and restricted cash	0.0	0.0	0.0	0.0
Receivables, net	0.0	0.0
Inventories	0.0	0.0
Current assets - other	0.0	0.0
Total current assets	0.0	0.0
Property, plant and equipment	0.0	0.0
Goodwill	0.0	0.0
Investment in subsidiaries	(22,150.1)	(10,730.1)
Other intangibles, net	0.0	0.0
Other noncurrent assets	0.0	0.0
Total Assets	(22,150.1)	(10,730.1)
Current liabilities	0.0	0.0
Inter-company	0.0	0.0
Long-term Debt and Lease Obligation	0.0	0.0
Long-term liabilities - other	0.0	0.0
Total Liabilities	0.0	0.0
Shareholders' equity	(22,150.1)	(10,730.1)
Noncontrolling interest	0.0	0.0
Total Equity	(22,150.1)	(10,730.1)
Total Liabilities and Equity	(22,150.1)	(10,730.1)
Parent \| Reportable Legal Entities
Condensed Financial Statements, Captions [Line Items]
Cash, cash equivalents, and restricted cash	24.0	1,782.6	0.9	2.5
Receivables, net	103.5	106.8
Inventories	135.3	149.7
Current assets - other	(0.8)	11.9
Total current assets	262.0	2,051.0
Property, plant and equipment	73.2	51.6
Goodwill	564.1	25.3
Investment in subsidiaries	15,566.2	6,708.0
Other intangibles, net	35.8	29.3
Other noncurrent assets	105.6	8.8
Total Assets	16,606.9	8,874.0
Current liabilities	586.0	264.5
Inter-company	1,357.6	1,947.5
Long-term Debt and Lease Obligation	4,321.8	3,779.7
Long-term liabilities - other	385.0	17.1
Total Liabilities	6,650.4	6,008.8
Shareholders' equity	9,941.5	2,865.2
Noncontrolling interest	15.0	0.0
Total Equity	9,956.5	2,865.2
Total Liabilities and Equity	16,606.9	8,874.0
Guarantors \| Reportable Legal Entities
Condensed Financial Statements, Captions [Line Items]
Cash, cash equivalents, and restricted cash	14.7	(0.1)	0.6	1.2
Receivables, net	298.2	61.5
Inventories	763.1	69.1
Current assets - other	22.0	0.7
Total current assets	1,098.0	131.2
Property, plant and equipment	65.0	24.8
Goodwill	283.2	283.2
Investment in subsidiaries	6,583.9	4,022.1
Other intangibles, net	731.2	78.5
Other noncurrent assets	116.2	0.1
Total Assets	8,877.5	4,539.9
Current liabilities	1,109.6	91.0
Inter-company	(2,546.3)	(1,436.2)
Long-term Debt and Lease Obligation	0.0	0.0
Long-term liabilities - other	154.1	48.6
Total Liabilities	(1,282.6)	(1,296.6)
Shareholders' equity	10,160.1	5,836.5
Noncontrolling interest	0.0	0.0
Total Equity	10,160.1	5,836.5
Total Liabilities and Equity	8,877.5	4,539.9
Non-Guarantors \| Reportable Legal Entities
Condensed Financial Statements, Captions [Line Items]
Cash, cash equivalents, and restricted cash	565.5	559.8	$ 231.9	$ 1,139.5
Receivables, net	1,262.2	978.5
Inventories	874.7	626.1
Current assets - other	129.7	103.0
Total current assets	2,832.1	2,267.4
Property, plant and equipment	1,517.6	487.4
Goodwill	7,513.3	2,088.0
Investment in subsidiaries	0.0	0.0
Other intangibles, net	3,337.0	1,022.1
Other noncurrent assets	409.9	100.5
Total Assets	15,609.9	5,965.4
Current liabilities	1,562.4	1,291.1
Inter-company	1,188.7	(511.3)
Long-term Debt and Lease Obligation	11.8	13.1
Long-term liabilities - other	819.9	275.0
Total Liabilities	3,582.8	1,067.9
Shareholders' equity	12,005.0	4,893.6
Noncontrolling interest	22.1	3.9
Total Equity	12,027.1	4,897.5
Total Liabilities and Equity	$ 15,609.9	$ 5,965.4

EMPLOYEE BENEFIT PLANS - Schedule of Reconciliation of Level 3 Assets (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Defined Benefit Plan, Change in Fair Value of Plan Assets, Level 3 Reconciliation [Roll Forward]
Fair value of plan assets at beginning of year	$ 271.5
Fair value of plan assets at end of year	304.1	$ 271.5
Level 3
Defined Benefit Plan, Change in Fair Value of Plan Assets, Level 3 Reconciliation [Roll Forward]
Fair value of plan assets at beginning of year	9.9
Fair value of plan assets at end of year	4.6	9.9
Defined Benefit Pension Plans \| Level 3
Defined Benefit Plan, Change in Fair Value of Plan Assets, Level 3 Reconciliation [Roll Forward]
Fair value of plan assets at beginning of year	9.9	13.1
Net purchases, issuances, and settlements	0.2	(3.6)
Actual return on plan assets	0.3	0.3
Transfers	(5.8)	0.7
Effect of currency rate changes	0.0	(0.5)
Fair value of plan assets at end of year	$ 4.6	$ 9.9

EMPLOYEE BENEFIT PLANS - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Defined Benefit Plans And Other Postretirement Benefit Plans [Line Items]
Number of shares held on behalf of participants (in shares)	431,744	442,239
Market value of the shares held on behalf of participants	$ 33.6	$ 31.1
United States \| Defined Benefit Pension Plans
Defined Benefit Plans And Other Postretirement Benefit Plans [Line Items]
Aggregate accumulated benefit obligation	40.2	38.8
Contribution to the plan	$ 2.1
United States \| Defined Benefit Pension Plans \| Equity security funds
Defined Benefit Plans And Other Postretirement Benefit Plans [Line Items]
Target asset allocation (as a percent)	55.00%
United States \| Defined Benefit Pension Plans \| Debt security funds and other
Defined Benefit Plans And Other Postretirement Benefit Plans [Line Items]
Target asset allocation (as a percent)	45.00%
Foreign Plan \| Defined Benefit Pension Plans
Defined Benefit Plans And Other Postretirement Benefit Plans [Line Items]
Aggregate accumulated benefit obligation	$ 336.0	$ 301.1
Contribution to the plan	$ 8.8
Foreign Plan \| Defined Benefit Pension Plans \| Equity security funds
Defined Benefit Plans And Other Postretirement Benefit Plans [Line Items]
Target asset allocation (as a percent)	26.00%
Foreign Plan \| Defined Benefit Pension Plans \| Debt security funds and other
Defined Benefit Plans And Other Postretirement Benefit Plans [Line Items]
Target asset allocation (as a percent)	53.00%
Foreign Plan \| Defined Benefit Pension Plans \| Other Investments
Defined Benefit Plans And Other Postretirement Benefit Plans [Line Items]
Target asset allocation (as a percent)	21.00%

GUARANTOR SUBSIDIARIES FINANCIAL INFORMATION - Income Statement (Details) - USD ($) $ in Millions	3 Months Ended								12 Months Ended
	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Condensed Financial Statements, Captions [Line Items]
Total net sales	$ 2,368.4	$ 2,001.7	$ 2,236.3	$ 1,593.6	$ 1,117.8	$ 1,077.8	$ 1,111.7	$ 1,056.2	$ 8,200.0	$ 4,363.5	$ 3,881.7
Cost of sales									(5,922.0)	(3,129.6)	(2,816.4)
Gross profit	674.9	599.4	614.7	389.0	297.0	302.0	324.0	310.9	2,278.0	1,233.9	1,065.3
Total operating expenses									(1,614.9)	(760.5)	(644.2)
Income from operations	226.1	169.1	200.6	67.3	93.4	125.2	123.5	131.3	663.1	473.4	421.1
Interest expense, net									(219.1)	(112.2)	(77.9)
Other income, net									2.8	6.4	8.9
Equity earnings (loss)									0.0	0.0	0.0
Income from operations before income taxes									446.8	367.6	352.1
Income tax expense									(120.3)	(75.9)	(89.8)
Net income									326.5	291.7	262.3
Less: Net loss attributable to noncontrolling interest									0.2	3.2	0.0
Net income attributable to Wabtec shareholders	$ 135.7	$ 91.1	$ 104.1	$ (4.2)	$ 34.4	$ 87.7	$ 84.4	$ 88.4	326.7	294.9	262.3
Comprehensive income (loss) attributable to Wabtec shareholders									200.7	83.3	596.9
Elimination
Condensed Financial Statements, Captions [Line Items]
Total net sales									(1,535.0)	(232.8)	(129.3)
Cost of sales									1,198.7	132.3	98.7
Gross profit									(336.3)	(100.5)	(30.6)
Total operating expenses									0.0	0.0	0.0
Income from operations									(336.3)	(100.5)	(30.6)
Interest expense, net									0.0	0.0	0.0
Other income, net									0.0	0.0	0.0
Equity earnings (loss)									(1,422.9)	(766.3)	(733.7)
Income from operations before income taxes									(1,759.2)	(866.8)	(764.3)
Income tax expense									0.0	0.0	0.0
Net income									(1,759.2)	(866.8)	(764.3)
Less: Net loss attributable to noncontrolling interest									0.0	0.0	0.0
Net income attributable to Wabtec shareholders									(1,759.2)	(866.8)	(764.3)
Comprehensive income (loss) attributable to Wabtec shareholders									(1,759.2)	(866.8)	(764.3)
Parent \| Reportable Legal Entities
Condensed Financial Statements, Captions [Line Items]
Total net sales									723.4	671.0	577.4
Cost of sales									(562.1)	(495.1)	(440.9)
Gross profit									161.3	175.9	136.5
Total operating expenses									(321.6)	(173.0)	(114.2)
Income from operations									(160.3)	2.9	22.3
Interest expense, net									(214.8)	(110.8)	(76.8)
Other income, net									(131.5)	13.5	10.0
Equity earnings (loss)									809.5	396.9	416.1
Income from operations before income taxes									302.9	302.5	371.6
Income tax expense									23.8	(7.6)	(109.3)
Net income									326.7	294.9	262.3
Less: Net loss attributable to noncontrolling interest									0.0	0.0	0.0
Net income attributable to Wabtec shareholders									326.7	294.9	262.3
Comprehensive income (loss) attributable to Wabtec shareholders									326.7	295.8	263.9
Guarantors \| Reportable Legal Entities
Condensed Financial Statements, Captions [Line Items]
Total net sales									3,245.3	483.1	398.2
Cost of sales									(2,429.2)	(304.3)	(255.8)
Gross profit									816.1	178.8	142.4
Total operating expenses									(311.5)	(57.3)	(50.9)
Income from operations									504.6	121.5	91.5
Interest expense, net									12.5	12.8	10.9
Other income, net									(11.1)	0.0	0.3
Equity earnings (loss)									613.4	369.4	317.6
Income from operations before income taxes									1,119.4	503.7	420.3
Income tax expense									(97.0)	(3.3)	18.8
Net income									1,022.4	500.4	439.1
Less: Net loss attributable to noncontrolling interest									0.0	0.0	0.0
Net income attributable to Wabtec shareholders									1,022.4	500.4	439.1
Comprehensive income (loss) attributable to Wabtec shareholders									1,022.4	500.4	439.1
Non-Guarantors \| Reportable Legal Entities
Condensed Financial Statements, Captions [Line Items]
Total net sales									5,766.3	3,442.2	3,035.4
Cost of sales									(4,129.4)	(2,462.5)	(2,218.4)
Gross profit									1,636.9	979.7	817.0
Total operating expenses									(981.8)	(530.2)	(479.1)
Income from operations									655.1	449.5	337.9
Interest expense, net									(16.8)	(14.2)	(12.0)
Other income, net									145.4	(7.1)	(1.4)
Equity earnings (loss)									0.0	0.0	0.0
Income from operations before income taxes									783.7	428.2	324.5
Income tax expense									(47.1)	(65.0)	0.7
Net income									736.6	363.2	325.2
Less: Net loss attributable to noncontrolling interest									0.2	3.2	0.0
Net income attributable to Wabtec shareholders									736.8	366.4	325.2
Comprehensive income (loss) attributable to Wabtec shareholders									$ 610.8	$ 153.9	$ 658.2

LEASES - Lease Term and Discount Rate (Details)	Dec. 31, 2019
Weighted-average remaining lease term (years)
Operating leases	7 years
Finance leases	5 years 2 months 12 days
Weighted-average discount rate
Operating leases	4.60%
Finance leases	1.40%

FAIR VALUE MEASUREMENT AND FAIR VALUE OF FINANCIAL INSTRUMENTS - Liabilities Carried at Fair Value Measured on Recurring Basis (Details) $ in Millions	Dec. 31, 2019 USD ($)
Foreign Exchange Contracts
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Other Current Assets	$ 12.6
Other Current Liabilities	9.8
Cross-Currency Swap Agreement
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Other Current Liabilities	9.4
Level 1 \| Foreign Exchange Contracts
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Other Current Assets	0.0
Other Current Liabilities	0.0
Level 1 \| Cross-Currency Swap Agreement
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Other Current Liabilities	0.0
Level 2 \| Foreign Exchange Contracts
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Other Current Assets	12.6
Other Current Liabilities	9.8
Level 2 \| Cross-Currency Swap Agreement
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Other Current Liabilities	9.4
Level 3 \| Foreign Exchange Contracts
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Other Current Assets	0.0
Other Current Liabilities	0.0
Level 3 \| Cross-Currency Swap Agreement
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Other Current Liabilities	$ 0.0

SEGMENT INFORMATION (Tables)

12 Months Ended

Dec. 31, 2019

Segment Reporting [Abstract]

Segment Financial Information


Segment financial information for 2019 is as follows:
					Corporate
	Freight		Transit		Activities and
In million	Segment		Segment		Elimination		Total
Sales to external customers	$	5,441.4	$	2,758.6	$	—	$	8,200.0
Intersegment sales/(elimination)	59.6		23.4		(83.0)		—
Total sales	$	5,501.0	$	2,782.0	$	(83.0)	$	8,200.0
Income (loss) from operations	$	642.9	$	214.4	$	(194.2)	$	663.1
Interest expense and other, net	—		—		(216.3)		(216.3)
Income (loss) from operations before income taxes	$	642.9	$	214.4	$	(410.5)	$	446.8
Depreciation and amortization	$	330.4	$	62.2	$	8.8	$	401.4
Capital expenditures	105.1		63.7		16.5		185.3
Segment assets	14,450.9		6,026.0		(1,532.7)		18,944.2


Segment financial information for 2018 is as follows:
					Corporate
	Freight		Transit		Activities and
In millions	Segment		Segment		Elimination		Total
Sales to external customers	$	1,766.4	$	2,597.1	$	—	$	4,363.5
Intersegment sales/(elimination)	52.8		11.3		(64.1)		—
Total sales	$	1,819.2	$	2,608.4	$	(64.1)	$	4,363.5
Income (loss) from operations	$	334.3	$	192.5	$	(53.4)	$	473.4
Interest expense and other, net	—		—		(105.8)		(105.8)
Income (loss) from operations before income taxes	$	334.3	$	192.5	$	(159.2)	$	367.6
Depreciation and amortization	$	41.6	$	62.7	$	5.0	$	109.3
Capital expenditures	24.6		61.6		7.1		93.3
Segment assets	3,329.6		9,478.6		(4,159.0)		8,649.2


Segment financial information for 2017 is as follows:
					Corporate
	Freight		Transit		Activities and
In millions	Segment		Segment		Elimination		Total
Sales to external customers	$	1,538.6	$	2,343.1	$	—	$	3,881.7
Intersegment sales/(elimination)	39.0		5.5		(44.5)		—
Total sales	$	1,577.6	$	2,348.6	$	(44.5)	$	3,881.7
Income (loss) from operations	$	271.7	$	177.2	$	(27.8)	$	421.1
Interest expense and other, net	—		—		(69.0)		(69.0)
Income (loss) from operations before income taxes	$	271.7	$	177.2	$	(96.8)	$	352.1
Depreciation and amortization	$	43.1	$	58.0	$	2.1	$	103.2
Capital expenditures	32.2		52.5		4.8		89.5
Segment assets	3,104.9		7,885.3		(4,410.2)		6,580.0

Geographic Area Data

The following geographic area data as of and for the years ended December 31, 2019, 2018 and 2017, respectively, includes net sales based on product shipment destination and long-lived assets, which consist of plant, property and equipment, net of depreciation, resident in their respective countries:


	Net Sales										Long-Lived Assets
In millions	2019		2018		2017		2019		2018		2017
United States	$	3,381.0	$	1,460.3	$	1,323.8	$	1,089.8	$	204.3	$	211.6
Canada	733.3		279.0		279.0		13.2		5.3		5.8
India	504.2		178.5		137.8		159.2		12.8		12.5
United Kingdom	376.2		395.8		356.5		55.5		54.8		57.7
Mexico	356.6		200.6		160.0		23.7		9.2		9.1
Germany	340.0		314.7		208.8		77.7		75.5		71.7
Australia	296.4		173.5		136.1		12.1		9.6		10.5
France	294.3		247.8		237.5		58.9		56.7		57.8
China	290.4		170.3		178.1		34.5		33.4		36.4
Other international	1,627.6		943.0		864.1		131.2		102.2		100.9
Total	$	8,200.0	$	4,363.5	$	3,881.7	$	1,655.8	$	563.8	$	574.0

Sales by Product

Net sales by product line are as follows:


In millions	2019		2018		2017
Freight Segment:
Equipment	$	1,699.7	$	—	$	—
Components	1,073.5		1,169.1		1,004.6
Digital Electronics	677.1		474.1		400.8
Services	1,991.1		123.2		133.2
Total Freight Segment sales	$	5,441.4	$	1,766.4	$	1,538.6

Transit Segment:
Original Equipment Manufacturer	1,286.6		1,194.0		1,050.0
Aftermarket	1,472.0		1,403.1		1,293.1
Total Transit Segment sales	$	2,758.6	$	2,597.1	$	2,343.1

INTANGIBLES - Change in the Carrying Amount of Goodwill by Segment (Details) $ in Millions	12 Months Ended
	Dec. 31, 2019 USD ($)
Goodwill [Roll Forward]
Balance beginning of period	$ 2,396.5
Additions	6,001.5
Foreign currency impact	(37.4)
Balance end of period	8,360.6
Freight Segment
Goodwill [Roll Forward]
Balance beginning of period	899.1
Additions	5,989.3
Foreign currency impact	(11.8)
Balance end of period	6,876.6
Transit Segment
Goodwill [Roll Forward]
Balance beginning of period	1,497.4
Additions	12.2
Foreign currency impact	(25.6)
Balance end of period	$ 1,484.0

LEASES

12 Months Ended

Dec. 31, 2019

Leases [Abstract]

Leases

LEASES

During the first quarter of 2019, 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. Many of the Company's 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. 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. The Company has established discount rates by geographic region ranging from 1.0% to 12.3%.

The components of lease expense are as follows:


	For the year ended Ended December 31,
In millions	2019
Operating lease expense	$	54.4
Finance lease expense amortization of leased assets	1.1
Short-term and variable lease expense	0.6
Sublease income	(0.5)
Total	$	55.6

Scheduled payments of lease liabilities are as follows:


In millions	Operating Leases		Finance Leases		Total
2020	$	53.9	$	0.4	$	54.3
2021	45.3		0.2		45.5
2022	38.1		0.2		38.3
2023	33.4		0.2		33.6
2024	29.3		0.1		29.4
Thereafter	103.2		0.2		103.4
Total lease payments	303.2		1.3		304.5
Less: Present value discount	(30.1)		—		(30.1)
Present value lease liabilities	$	273.1	$	1.3	$	274.4

The following table summarizes the remaining lease term and discount rate assumptions used to develop the present value of lease liabilities:


	December 31,
	2019
Weighted-average remaining lease term (years)
Operating leases	7.0
Finance leases	5.2
Weighted-average discount rate
Operating leases	4.6	%
Finance leases	1.4	%

Leases

LEASES

The components of lease expense are as follows:


	For the year ended Ended December 31,
In millions	2019
Operating lease expense	$	54.4
Finance lease expense amortization of leased assets	1.1
Short-term and variable lease expense	0.6
Sublease income	(0.5)
Total	$	55.6

Scheduled payments of lease liabilities are as follows:


In millions	Operating Leases		Finance Leases		Total
2020	$	53.9	$	0.4	$	54.3
2021	45.3		0.2		45.5
2022	38.1		0.2		38.3
2023	33.4		0.2		33.6
2024	29.3		0.1		29.4
Thereafter	103.2		0.2		103.4
Total lease payments	303.2		1.3		304.5
Less: Present value discount	(30.1)		—		(30.1)
Present value lease liabilities	$	273.1	$	1.3	$	274.4

The following table summarizes the remaining lease term and discount rate assumptions used to develop the present value of lease liabilities:


	December 31,
	2019
Weighted-average remaining lease term (years)
Operating leases	7.0
Finance leases	5.2
Weighted-average discount rate
Operating leases	4.6	%
Finance leases	1.4	%

INCOME TAXES (Tables)

12 Months Ended

Dec. 31, 2019

Income Tax Disclosure [Abstract]

Components of Income from Operations before Provision for Income Taxes


	For the year ended December 31,
In millions	2019		2018		2017
Domestic	$	117.9	$	145.1	$	140.3
Foreign	328.9		222.5		211.8
Income from operations before income taxes	$	446.8	$	367.6	$	352.1

Consolidated Provision for Income Taxes

The consolidated provision for income taxes included in the Statement of Income consisted of the following:


	For the year ended December 31,
In thousands	2019		2018		2017
Current taxes
Federal	$	5.7	$	6.9	$	86.2
State	0.5		5.8		3.6
Foreign	141.4		68.5		67.4
	147.6		81.2		157.2
Deferred taxes
Federal	19.8		4.7		(22.9)
State	2.9		1.3		(1.0)
Foreign	(50.0)		(11.3)		(43.5)
	(27.3)		(5.3)		(67.4)
Total provision	$	120.3	$	75.9	$	89.8

Reconciliation of Income Tax Rate

A reconciliation of the United States federal statutory income tax rate to the effective income tax rate on operations for the years ended December 31 is provided below:


	For the year ended December 31,
In millions	2019		2018		2017
U.S. federal statutory rate	21.0	%	21.0	%	35.0	%
State taxes	0.7		1.6		0.4
Foreign	3.2		0.7		(8.3)
Research and development credit	(1.7)		(1.1)		(0.8)
Manufacturing deduction	—		—		(1.1)
France tax rate change	—		—		(6.5)
U.S. tax rate change	—		(0.6)		(7.9)
U.S. tax reform (benefit) provision	2.0		(1.4)		15.6
Transaction costs related to acquisitions	1.0		—		—
Other, net	0.7		0.4		(0.9)
Effective rate	26.9	%	20.6	%	25.5	%

Components of Deferred Tax Assets and Liabilities

Components of deferred tax assets and liabilities were as follows:


	December 31,
In millions	2019		2018
Deferred income tax assets:
Accrued expenses and reserves	$	35.8	$	13.8
Warranty reserve	46.6		25.9
Deferred compensation/employee benefits	32.3		9.8
Right-of-use asset	63.1		—
Pension and postretirement obligations	28.1		19.5
Inventory	25.8		16.8
Net operating loss carry forwards	95.6		85.1
Other	18.8		19.2
Gross deferred income tax assets	346.1		190.1
Valuation allowance	58.0		41.7
Total deferred income tax assets	288.1		148.4
Deferred income tax liabilities:
Property, plant & equipment	42.7		35.5
Right-of-use liability	63.1		—
Intangibles	235.6		287.4
Total deferred income tax liabilities	341.4		322.9
Net deferred income tax liability	$	(53.3)	$	(174.5)

Liability for Income Taxes Associated with Uncertain Tax Positions

A reconciliation of the beginning and ending amount of the liability for income taxes associated with unrecognized tax benefits follows:


In millions	2019		2018		2017
Gross liability for unrecognized tax benefits at beginning of year	$	9.5	$	6.9	$	8.4
Gross increases - unrecognized tax benefits in prior periods	9.7		5.4		2.5
Gross decreases - audit settlement during year	—		—		(4.0)
Gross decreases - expiration of audit statute of limitations	(2.0)		(2.8)		—
Gross liability for unrecognized tax benefits at end of year	$	17.2	$	9.5	$	6.9

PROPERTY, PLANT & EQUIPMENT - Major Classes of Depreciable Assets (Details) - USD ($) $ in Millions	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Property, Plant and Equipment [Abstract]
Machinery and equipment	$ 1,363.8	$ 749.8
Buildings and improvements	774.2	248.1
Land and improvements	78.0	38.7
Property, plant and equipment	2,216.0	1,036.6
Less: accumulated depreciation	(560.2)	(472.8)
Property, plant and equipment, net	$ 1,655.8	$ 563.8	$ 574.0

STOCK-BASED COMPENSATION PLANS

12 Months Ended

Dec. 31, 2019

Share-based Payment Arrangement [Abstract]

STOCK-BASED COMPENSATION PLANS

STOCK-BASED COMPENSATION PLANSAs of December 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 as of December 31, 2019 the number of shares available for future grants under the 2011 Plan was 1,870,396 shares, which includes remaining shares to grant 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”). The amendment and restatement of the Directors Plan was approved by stockholders of Wabtec on May 10, 2017. The Directors Plan, as amended, authorizes a total of 1,000,000 shares of Common Stock to be issued. Under the Directors Plan options issued become exercisable over a three-year vesting period and expire ten years from the date of grant and restricted stock issued under the plan vests one year from the date of grant. As compensation for directors’ fees for the years ended December 31, 2019, 2018 and 2017, the Company issued a total of 15,729, 12,960 and 16,500 shares of restricted stock to non-employee directors. The total number of shares issued under the plan as of December 31, 2019 was 909,881 shares.

Stock-based compensation expense for all of the plans was $50.0 million, $25.3 million and $21.3 million for the years ended December 31, 2019, 2018 and 2017, respectively. The Company recognized associated tax benefits related to the stock-based compensation plans of $1.4 million, $6.3 million and $8.9 million for the respective periods. Included in the stock-based compensation expense for 2019 above is $2.3 million of expense related to stock options, $20.8 million related to non-vested restricted stock, $9.4 million related to restricted stock units, $16.5 million related to incentive stock units and $1.0 million related to units issued for Directors’ fees. At December 31, 2019, unamortized compensation expense related to those stock options, non-vested restricted shares and incentive stock units expected to vest totaled $41.9 million and will be recognized over a weighted period of 1.4 years.

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

The following table summarizes the Company’s stock option activity and related information for the 2011 Plan, the 2000 Plan and Directors Plan for the years ended December 31:


	Options	Weighted Average Exercise Price		Weighted Average Remaining Contractual Life	Aggregate Intrinsic value (in millions)
Outstanding at December 31, 2016	1,098,823	$	35.39	4.3	$	52.3
Granted	65,522	86.91			—
Exercised	(166,838)	21.37			(10.0)
Canceled	(13,995)	76.89			(0.1)
Outstanding at December 31, 2017	983,512	$	32.52	4.0	$	40.1
Granted	82,580	77.54			—
Exercised	(582,303)	28.29			(24.4)
Canceled	(17,112)	69.76			—
Outstanding at December 31, 2018	466,677	$	61.04	5.7	$	4.3
Granted	134,450	70.44			1.0
Exercised	(4,868)	22.45			(0.3)
Canceled	(8,235)	73.00			—
Outstanding at December 31, 2019	588,024	$	63.36	5.7	$	8.5
Exercisable at December 31, 2019	383,150	$	55.25	4.7	$	8.6

Options outstanding at December 31, 2019 were as follows:


	Number of Options	Weighted Average Exercise Price of Options		Weighted Average Remaining Contractual	Number of Options Currently	Weighted Average Exercise Price of Options Currently
Range of exercise prices	Outstanding	Outstanding		Life	Exercisable	Exercisable
Under $35.00	67,026	$	28.41	1.1	67,026	$	28.41
35.00 - 50.00	107,033	41.36		2.6	107,033	41.36
50.00 - 65.00	64,167	61.33		6.1	48,373	61.33
65.00 - 80.00	227,639	71.20		8.1	77,731	59.39
Over 80.00	122,159	88.27		6.5	82,987	87.45
	588,024	$	63.36		383,150	$	55.25

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:


	For the year ended December 31,
	2019			2018			2017
Dividend yield	0.66		%	0.31		%	0.23		%
Risk-free interest rate	2.6		%	2.8		%	2.2		%
Stock price volatility	25.8		%	23.9		%	23.4		%
Expected life (years)	5.0			5.0			5.0
Weighted average fair value of options granted during the year	$	19.54		$	20.59		$	20.69

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 7 years U.S. Treasury bond rates for the expected life of the option.

Restricted Stock and Incentive Stock Beginning in 2006 the Company adopted a restricted stock program. As provided for under the 2011 and 2000 Plans, eligible employees are granted restricted stock that generally vests over three 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 and be awarded ranging from 0% to 200% of the initial incentive stock units granted. The incentive stock units included in the table below represent the number of shares that are expected to vest based on the Company’s estimate for meeting those established performance targets. As of December 31, 2019, the Company estimates that it will achieve 115%, 111% and 108% for the incentive stock units 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 estimates of the number of these 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 closing price of the Company’s common stock 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 Directors Plan, and incentive stock units activity and related information for the 2011 Plan and the 2000 Plan with related information for the years ended December 31:


	Restricted Stock and Units	Incentive Stock Awards	Weighted Average Grant Date Fair Value
Outstanding at December 31, 2016	396,295	424,750	$	72.18
Granted	153,516	157,025	86.66
Vested	(137,088)	(153,271)	70.34
Adjustment for incentive stock awards expected to vest	—	(87,592)	73.69
Canceled	(13,723)	(13,579)	76.61
Outstanding at December 31, 2017	399,000	327,333	$	78.76
Granted	224,060	175,100	73.76
Vested	(148,644)	(93,312)	81.55
Adjustment for incentive stock awards expected to vest	—	32,996	74.62
Canceled	(29,327)	(26,875)	78.60
Outstanding at December 31, 2018	445,089	415,242	$	75.51
Granted	608,813	259,950	70.61
Vested	(235,406)	(119,835)	71.65
Adjustment for incentive stock awards expected to vest	—	80,403	78.04
Canceled	(27,465)	(63,758)	74.04
Outstanding at December 31, 2019	791,031	572,002	$	73.64

WARRANTIES (Tables)

12 Months Ended

Dec. 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 millions	2019		2018
Balance at beginning of year	$	153.7	$	153.0
Acquisitions	127.8		3.1
Warranty expense	105.5		58.0
Warranty claim payments	(118.0)		(54.1)
Foreign currency impact	(1.3)		(6.3)
Balance at end of year	$	267.7	$	153.7

OTHER INCOME, NET (Tables)

12 Months Ended

Dec. 31, 2019

Other Income and Expenses [Abstract]

Components of Other (Expense) Income

The components of other income, net are as follows:


	For the year ended December 31,
In millions	2019		2018		2017
Foreign currency loss	$	(13.5)	$	(5.7)	$	(6.6)
Equity income	8.1		1.9		2.6
Expected return on pension assets/amortization	9.9		9.0		9.8
Other miscellaneous (expense) income	(1.7)		1.2		3.1
Total other income, net	$	2.8	$	6.4	$	8.9

INCOME TAXES - Components of Income from Operations before Provision for Income Taxes (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Income Tax Disclosure [Abstract]
Domestic	$ 117.9	$ 145.1	$ 140.3
Foreign	328.9	222.5	211.8
Income from operations before income taxes	$ 446.8	$ 367.6	$ 352.1

SELECTED QUARTERLY FINANCIAL DATA (UNAUDITED) (Tables)

12 Months Ended

Dec. 31, 2019

Quarterly Financial Information Disclosure [Abstract]

Selected Quarterly Financial Data


	First		Second		Third		Fourth
In millions, except per share data	Quarter		Quarter		Quarter		Quarter
2019
Net sales	$	1,593.6	$	2,236.3	$	2,001.7	$	2,368.4
Gross profit	389.0		614.7		599.4		674.9
Income from operations	67.3		200.6		169.1		226.1
Net (loss) income attributable to Wabtec shareholders	(4.2)		104.1		91.1		135.7
Basic (loss) earnings from operations per common share	$	(0.04)	$	0.58	$	0.48	$	0.71
Diluted (loss) earnings from operations per common share	$	(0.04)	$	0.54	$	0.48	$	0.71
2018
Net sales	$	1,056.2	$	1,111.7	$	1,077.8	$	1,117.8
Gross profit	310.9		324.0		302.0		297.0
Income from operations	131.3		123.5		125.2		93.4
Net income attributable to Wabtec shareholders	88.4		84.4		87.7		34.4
Basic earnings from operations per common share	$	0.92	$	0.88	$	0.91	$	0.36
Diluted earnings from operations per common share	$	0.92	$	0.87	$	0.91	$	0.36

STOCK-BASED COMPENSATION PLANS (Tables)

12 Months Ended

Dec. 31, 2019

Share-based Payment Arrangement [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 Directors Plan for the years ended December 31:


	Options	Weighted Average Exercise Price		Weighted Average Remaining Contractual Life	Aggregate Intrinsic value (in millions)
Outstanding at December 31, 2016	1,098,823	$	35.39	4.3	$	52.3
Granted	65,522	86.91			—
Exercised	(166,838)	21.37			(10.0)
Canceled	(13,995)	76.89			(0.1)
Outstanding at December 31, 2017	983,512	$	32.52	4.0	$	40.1
Granted	82,580	77.54			—
Exercised	(582,303)	28.29			(24.4)
Canceled	(17,112)	69.76			—
Outstanding at December 31, 2018	466,677	$	61.04	5.7	$	4.3
Granted	134,450	70.44			1.0
Exercised	(4,868)	22.45			(0.3)
Canceled	(8,235)	73.00			—
Outstanding at December 31, 2019	588,024	$	63.36	5.7	$	8.5
Exercisable at December 31, 2019	383,150	$	55.25	4.7	$	8.6

Stock Options Outstanding

Options outstanding at December 31, 2019 were as follows:


	Number of Options	Weighted Average Exercise Price of Options		Weighted Average Remaining Contractual	Number of Options Currently	Weighted Average Exercise Price of Options Currently
Range of exercise prices	Outstanding	Outstanding		Life	Exercisable	Exercisable
Under $35.00	67,026	$	28.41	1.1	67,026	$	28.41
35.00 - 50.00	107,033	41.36		2.6	107,033	41.36
50.00 - 65.00	64,167	61.33		6.1	48,373	61.33
65.00 - 80.00	227,639	71.20		8.1	77,731	59.39
Over 80.00	122,159	88.27		6.5	82,987	87.45
	588,024	$	63.36		383,150	$	55.25

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

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


	For the year ended December 31,
	2019			2018			2017
Dividend yield	0.66		%	0.31		%	0.23		%
Risk-free interest rate	2.6		%	2.8		%	2.2		%
Stock price volatility	25.8		%	23.9		%	23.4		%
Expected life (years)	5.0			5.0			5.0
Weighted average fair value of options granted during the year	$	19.54		$	20.59		$	20.69

Restricted Stock Activity and Incentive Stock Awards Activity


	Restricted Stock and Units	Incentive Stock Awards	Weighted Average Grant Date Fair Value
Outstanding at December 31, 2016	396,295	424,750	$	72.18
Granted	153,516	157,025	86.66
Vested	(137,088)	(153,271)	70.34
Adjustment for incentive stock awards expected to vest	—	(87,592)	73.69
Canceled	(13,723)	(13,579)	76.61
Outstanding at December 31, 2017	399,000	327,333	$	78.76
Granted	224,060	175,100	73.76
Vested	(148,644)	(93,312)	81.55
Adjustment for incentive stock awards expected to vest	—	32,996	74.62
Canceled	(29,327)	(26,875)	78.60
Outstanding at December 31, 2018	445,089	415,242	$	75.51
Granted	608,813	259,950	70.61
Vested	(235,406)	(119,835)	71.65
Adjustment for incentive stock awards expected to vest	—	80,403	78.04
Canceled	(27,465)	(63,758)	74.04
Outstanding at December 31, 2019	791,031	572,002	$	73.64

ACQUISITIONS - Summary of Estimated Fair Value of Assets Acquired and Liabilities Assumed for Annax (Details) - USD ($) $ in Millions	Dec. 31, 2019	Dec. 31, 2018	Mar. 22, 2018
Business Acquisition [Line Items]
Goodwill	$ 8,360.6	$ 2,396.5
Annax GmbH
Business Acquisition [Line Items]
Current assets, net of cash acquired			$ 32.8
Property, plant & equipment			0.7
Goodwill			38.5
Other intangible assets			11.7
Total assets acquired			83.7
Total liabilities assumed			(55.1)
Net assets acquired			$ 28.6

INTANGIBLES - Estimated Amortization Expense Five Succeeding Years (Details) $ in Millions	Dec. 31, 2019 USD ($)
Goodwill and Intangible Assets Disclosure [Abstract]
2020	$ 278.7
2021	277.7
2022	277.3
2023	276.8
2024	$ 267.3

STOCK-BASED COMPENSATION PLANS - Stock Option Activity (Details) - USD ($) $ / shares in Units, $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Options
Outstanding, beginning of period (in shares)	466,677	983,512	1,098,823
Granted (in shares)	134,450	82,580	65,522
Exercised (in shares)	(4,868)	(582,303)	(166,838)
Canceled (in shares)	(8,235)	(17,112)	(13,995)
Outstanding, end of period (in shares)	588,024	466,677	983,512	1,098,823
Exercisable, end of period (in shares)	383,150
Weighted Average Exercise Price
Outstanding, beginning of period (in dollars per share)	$ 61.04	$ 32.52	$ 35.39
Granted (in dollars per share)	70.44	77.54	86.91
Exercised (in dollars per share)	22.45	28.29	21.37
Canceled (in dollars per share)	73.00	69.76	76.89
Outstanding, end of period (in dollars per share)	63.36	$ 61.04	$ 32.52	$ 35.39
Exercisable, end of period (in dollars per share)	$ 55.25
Weighted Average Remaining Contractual Life
Outstanding (in years)	5 years 8 months 12 days	5 years 8 months 12 days	4 years	4 years 3 months 18 days
Exercisable, end of period (in years)	4 years 8 months 12 days
Aggregate Intrinsic Value
Outstanding, beginning of period	$ 4.3	$ 40.1	$ 52.3
Granted	1.0	0.0	0.0
Exercised	(0.3)	(24.4)	(10.0)
Canceled	0.0	0.0	(0.1)
Outstanding, end of period	8.5	$ 4.3	$ 40.1	$ 52.3
Exercisable, end of period	$ 8.6

CONTRACT ASSETS AND CONTRACT LIABILITIES

12 Months Ended

Dec. 31, 2019

Revenue from Contract with Customer [Abstract]

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 twelve months ended December 31, 2019, and 2018 is as follows:


	Contract Assets
In millions	2019		2018
Balance at beginning of year	$	345.6	$	366.2
Acquisitions	237.5		0.0
Recognized in current year	619.3		426.8
Reclassified to accounts receivable	(578.6)		(432.3)
Foreign currency impact	(0.4)		(15.1)
Balance at December 31	$	623.4	$	345.6

	Contract Liabilities
In millions	2019		2018
Balance at beginning of year	$	444.8	$	463.7
Acquisitions	333.9		0.0
Recognized in current year	917.5		230.1
Amounts in beginning balance reclassified to revenue	(410.6)		(199.7)
Current year amounts reclassified to revenue	(483.5)		(30.9)
Foreign currency impact	(2.4)		(18.4)
Balance at December 31	$	799.7	$	444.8

EMPLOYEE BENEFIT PLANS - U.S. and International Pension Plans With Accumulated and Projected Benefit Obligations in Excess of Plan Assets (Details) - Defined Benefit Pension Plans - USD ($) $ in Millions	Dec. 31, 2019	Dec. 31, 2018
United States
Defined Benefit Plan Disclosure [Line Items]
Projected benefit obligation	$ (41.1)	$ (39.4)
Accumulated benefit obligation	(40.2)	(38.8)
Fair value of plan assets	34.3	31.9
Projected benefit obligation	(41.1)	(39.5)
Fair value of plan assets	34.3	32.0
Foreign Plan
Defined Benefit Plan Disclosure [Line Items]
Projected benefit obligation	(283.1)	(251.0)
Accumulated benefit obligation	(272.6)	(243.6)
Fair value of plan assets	193.9	172.3
Projected benefit obligation	(284.4)	(251.0)
Fair value of plan assets	$ 195.1	$ 172.3

WARRANTIES (Details) - USD ($) $ in Millions	12 Months Ended
WARRANTIES (Details) - USD ($) $ in Millions	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Movement in Standard and Extended Product Warranty, Increase (Decrease) [Roll Forward]
Balance at beginning of year	$ 153.7	$ 153.0
Acquisitions	127.8	3.1
Warranty expense	105.5	58.0	$ 50.4
Warranty claim payments	(118.0)	(54.1)
Foreign currency impact	(1.3)	(6.3)
Balance at end of year	$ 267.7	$ 153.7	$ 153.0

OTHER COMPREHENSIVE LOSS - Components of Accumulated Other Comprehensive Loss (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Statement of Financial Position [Abstract]
Total accumulated other comprehensive loss	$ 9,993,600	$ 2,869,100	$ 2,828,600	$ 2,976,800
Foreign currency translation
Statement of Financial Position [Abstract]
Total accumulated other comprehensive loss	(308,600)	(202,200)	5,100
Derivative contracts
Statement of Financial Position [Abstract]
Total accumulated other comprehensive loss	(3,300)	(100)	4,000
AOCI including portion attributable to noncontrolling interest, tax	0	0
Pension and Post Retirement Benefit Plans
Statement of Financial Position [Abstract]
Total accumulated other comprehensive loss	(70,700)	(54,300)	(54,100)
AOCI including portion attributable to noncontrolling interest, tax	24,700	23,000
Accumulated Other Comprehensive Income (Loss)
Statement of Financial Position [Abstract]
Total accumulated other comprehensive loss	$ (382,600)	$ (256,600)	$ (45,000)	$ (379,600)

SEGMENT INFORMATION - Sales by Product (Details) - USD ($) $ in Millions	3 Months Ended								12 Months Ended
	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Revenue from External Customer [Line Items]
Total sales	$ 2,368.4	$ 2,001.7	$ 2,236.3	$ 1,593.6	$ 1,117.8	$ 1,077.8	$ 1,111.7	$ 1,056.2	$ 8,200.0	$ 4,363.5	$ 3,881.7
Freight Segment
Revenue from External Customer [Line Items]
Total sales									5,441.4	1,766.4	1,538.6
Transit Segment
Revenue from External Customer [Line Items]
Total sales									2,758.6	2,597.1	2,343.1
Equipment \| Freight Segment
Revenue from External Customer [Line Items]
Total sales									1,699.7	0.0	0.0
Components \| Freight Segment
Revenue from External Customer [Line Items]
Total sales									1,073.5	1,169.1	1,004.6
Digital Electronics \| Freight Segment
Revenue from External Customer [Line Items]
Total sales									677.1	474.1	400.8
Services
Revenue from External Customer [Line Items]
Total sales									1,292.1	185.5	196.1
Services \| Freight Segment
Revenue from External Customer [Line Items]
Total sales									1,991.1	123.2	133.2
Original Equipment Manufacturer \| Transit Segment
Revenue from External Customer [Line Items]
Total sales									1,286.6	1,194.0	1,050.0
Aftermarket \| Transit Segment
Revenue from External Customer [Line Items]
Total sales									$ 1,472.0	$ 1,403.1	$ 1,293.1

OTHER COMPREHENSIVE LOSS (Tables)

12 Months Ended

Dec. 31, 2019

Equity [Abstract]

Components of Accumulated Other Comprehensive Loss

The components of accumulated other comprehensive loss were:


	December 31,
In millions	2019		2018
Foreign currency translation gain (loss)	$	(308.6)	$	(202.2)
Unrealized gain (loss) on interest rate swap contracts, net of tax of $0 and $0	(3.3)		(0.1)
Unrealized loss on pension and post-retirement benefit plans, net of tax of $24.7 and $23.0	(70.7)		(54.3)
Total accumulated other comprehensive loss	$	(382.6)	$	(256.6)

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 year-ended December 31, 2019 are as follows:


	Foreign currency		Derivative		Pension and post retirement
In millions	translation		contracts		benefits plans		Total
Balance at December 31, 2018	$	(202.2)	$	(0.1)	$	(54.3)	$	(256.6)
Other comprehensive income before reclassifications	(106.4)		(3.2)		(18.5)		(128.1)
Amounts reclassified from accumulated other comprehensive income	—		—		2.1		2.1
Net current period other comprehensive income	(106.4)		(3.2)		(16.4)		(126.0)
Balance at December 31, 2019	$	(308.6)	$	(3.3)	$	(70.7)	$	(382.6)

The changes in accumulated other comprehensive loss by component, net of tax, for the year-ended December 31, 2018 are as follows:


	Foreign currency		Derivative		Pension and post retirement
	translation		contracts		benefits plans		Total
Balance at December 31, 2017	$	5.1	$	4.0	$	(54.1)	$	(45.0)
Other comprehensive income before reclassifications	(207.3)		(7.8)		(2.3)		(217.4)
Amounts reclassified from accumulated other comprehensive income	—		3.7		2.1		5.8
Net current period other comprehensive income	(207.3)		(4.1)		(0.2)		(211.6)
Balance at December 31, 2018	$	(202.2)	$	(0.1)	$	(54.3)	$	(256.6)

Reclassifications Out of Accumulated Other Comprehensive Loss

Reclassifications out of accumulated other comprehensive loss for the year-ended December 31, 2019 are as follows:

Amount reclassified from
accumulated other

Affected line item in the
Condensed Consolidated

In millions

comprehensive income

Statements of Income

Amortization of defined pension and post retirement items

Amortization of initial net obligation and prior service cost

(1.5)

Other income, net

Amortization of net loss (gain)

4.4

Other income, net

2.9

Other income, net

(0.8)

Income tax expense

2.1

Net income

Reclassifications out of accumulated other comprehensive loss for the year-ended December 31, 2018 are as follows:

Amount reclassified from
accumulated other

Affected line item in the
Condensed Consolidated

comprehensive income

Statements of Income

Amortization of defined pension and post retirement items

Amortization of initial net obligation and prior service cost

(1.5)

Other income, net

Amortization of net loss (gain)

4.3

Other income, net

2.8

Other income, net

(0.7)

Income tax expense

2.1

Net income

Derivative contracts

Realized loss on derivative contracts

4.9

Interest expense, net

(1.2)

Income tax expense

3.7

Net income

EMPLOYEE BENEFIT PLANS - Amounts Included in Other Comprehensive Loss That are Expected to be Recognized as Components of Periodic Benefit Costs (Details) - Defined Benefit Pension Plans $ in Millions	Dec. 31, 2019 USD ($)
United States
Defined Benefit Plan Disclosure [Line Items]
Prior service cost	$ 0.0
Net actuarial loss	1.0
Total recognized in net periodic benefit cost and other comprehensive (loss) income	1.0
Foreign Plan
Defined Benefit Plan Disclosure [Line Items]
Prior service cost	0.1
Net actuarial loss	4.3
Total recognized in net periodic benefit cost and other comprehensive (loss) income	$ 4.4

Schedule II - Valuation and Qualifying Accounts (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Allowance for doubtful accounts
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward]
Balance at beginning of period	$ 16.9	$ 12.3	$ 7.3
Charged/ (credited) to expense	7.1	9.5	2.6
Charged/(credited) to other accounts	0.2	(0.4)	5.0
Deductions from reserves	4.5	4.5	2.6
Balance at end of period	19.9	16.9	12.3
Valuation allowance-taxes
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward]
Balance at beginning of period	41.8	25.7	21.4
Charged/ (credited) to expense	16.2	27.4	4.3
Charged/(credited) to other accounts	0.0	0.0	0.0
Deductions from reserves	0.0	11.3	0.0
Balance at end of period	$ 58.0	$ 41.8	$ 25.7

INCOME TAXES - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
INCOME TAXES - Narrative (Details) - USD ($) $ in Millions	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Operating Loss Carryforwards [Line Items]
Net tax expense recorded			$ 4.3
Provisional expense for U.S. tax reform bill			55.0
Net benefit for revaluation of deferred tax assets and liabilities			50.7
Net tax expense (benefit) related to Tax Act		$ (5.1)	27.2
Tax benefit related to French Finance Act			22.9
Provisional expense (benefit) for net deferred taxes			(24.6)
Provisional transition tax expense (benefit)		(14.4)	51.8
Valuation allowance	$ 58.0	41.7
Net operating loss carry-forwards	390.5
Unrecognized tax benefits	17.2	9.5	$ 6.9	$ 8.4
Unrecognized tax benefits if recognized that would affect effective tax rate	17.2	8.4
Accrued interest	4.0	0.9
Unrecognized tax benefits subject to change within the next 12 months	7.6
Global Intangible Low Taxed Income
Operating Loss Carryforwards [Line Items]
Provisional expense (benefit) for net deferred taxes	$ 11.9	$ 9.3

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	12 Months Ended
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	Dec. 31, 2019
Accounting Policies [Abstract]
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Principles of Consolidation The consolidated financial statements include the accounts of the Company and all subsidiaries that it controls. For consolidated subsidiaries in which the Company's ownership is less than 100%, the outside shareholders' interests are shown as noncontrolling interests. These statements have been prepared in accordance with U.S. generally accepted accounting principles. Sales between subsidiaries are billed at prices consistent with sales to third parties and are eliminated in consolidation. Cash Equivalents Cash equivalents are highly liquid investments purchased with an original maturity of three months or less. Allowance for Doubtful Accounts The allowance for doubtful accounts receivable reflects our best estimate of probable losses inherent in our receivable portfolio determined on the basis of historical experience, specific allowances for known troubled accounts and other currently available evidence. The allowance for doubtful accounts was $19.9 million and $16.9 million as of December 31, 2019 and 2018, respectively. Inventories Inventories are stated at the lower of cost or market. Cost is determined under the first-in, first-out (FIFO) method. Inventory costs include material, labor and overhead. Property, Plant and Equipment Property, plant and equipment additions are stated at cost. Expenditures for renewals and improvements are capitalized. Expenditures for ordinary maintenance and repairs are expensed as incurred. The Company computes book depreciation principally on the straight-line method. Accelerated depreciation methods are utilized for income tax purposes. Leasing Arrangements The Company conducts a portion of its operations from leased facilities and finances certain equipment purchases through lease agreements. In those cases in which the lease term approximates the useful life of the leased asset or the lease meets certain other prerequisites, the leasing arrangement is classified as a financing lease. The remaining arrangements are treated as operating leases. Right-of-use lease assets are classified as long-term assets under the caption "Other noncurrent assets" and lease liabilities are classified under the captions "Other accrued liabilities' and "Other long-term liabilities." Goodwill and Intangible Assets Goodwill and other intangible assets with indefinite lives are not amortized. Other intangibles (with definite lives) are amortized on a straight-line basis over their estimated economic lives. Amortizable intangible assets are reviewed for impairment when indicators of impairment are present. The Company tests goodwill and indefinite-lived intangible assets for impairment at the reporting unit level and at least annually. The Company performs its annual impairment test during the fourth quarter after the annual forecasting process is completed, and also tests for impairment whenever events or changes in circumstances indicate that the carrying value may not be recoverable. Periodically, Management of the Company assesses whether or not an indicator of impairment is present that would necessitate an impairment analysis be performed. For 2019, the Company opted to proceed directly to the quantitative impairment test for all reporting units with goodwill. The discounted cash flow approach and the market approach were used to estimate the fair value of each reporting unit using a weighting of 75% and 25%, respectively. The discounted cash flow model requires several assumptions including future sales growth, EBIT (earnings before interest and taxes) margins, capital expenditures, a discount rate and a terminal revenue growth rate (the revenue growth rate for the period beyond the years forecasted by the reporting units) for each reporting unit. The market approach requires several assumptions including EBITDA (earnings before interest, taxes, depreciation and amortization) multiples for comparable companies that operate in the same markets as the Company’s reporting units. The estimated fair value of all reporting units was in excess of its respective carrying value, which resulted in a conclusion that no impairment existed. Additionally, the Company proceeded directly to the quantitative impairment test for some trade names with indefinite lives. The fair value of all material trade names subject to the quantitative impairment test exceeded its respective carrying value, resulting in a conclusion that no material impairment existed. For trade names not subject to the quantitative testing, the Company opted to perform a qualitative trade name impairment assessment and determined from the qualitative assessment that it was not more likely than not that the estimated fair values of the trade names were less than their carrying values; therefore, no further analysis was required. In assessing the qualitative factors to determine whether it is more likely than not that the fair value of a trade name is less than its carrying amount, we assess relevant events and circumstances that may impact the fair value and the carrying amount of the trade name. The identification of relevant events and circumstances and how these may impact a trade name’s fair value or carrying amount involve significant judgments and assumptions. The judgment and assumptions include the identification of macroeconomic conditions, industry and market considerations, cost factors, overall financial performance, Wabtec specific events, share price trends and making the assessment on whether each relevant factor will impact the impairment test positively or negatively and the magnitude of any such impact. Equity Method Investments The Company invests in privately-held companies which are accounted for using the equity method. The equity method is applied in situations where the Company has the ability to exercise significant influence, but not control, over the investee. Equity method investments were $95.2 million and $30.8 million at December 31, 2019 and 2018, respectively. Warranty Costs Warranty costs are accrued based on Management’s estimates of repair or upgrade costs per unit and historical experience. Warranty expense was $105.5 million, $58.0 million and $50.4 million for 2019, 2018 and 2017, respectively. Accrued warranty was $267.7 million and $153.7 million at December 31, 2019 and 2018, respectively. Income Taxes Income taxes are accounted for under the liability method. Deferred tax assets and liabilities are determined based on differences between financial reporting and tax basis of assets and liabilities and are measured using the enacted tax rates and laws. The provision for income taxes includes federal, state and foreign income taxes. Stock-Based Compensation The Company recognizes compensation expense for stock-based compensation based on the grant date fair value amortized ratably over the requisite service period following the date of grant. Financial Derivatives and Hedging Activities In the normal course of business, the Company is exposed to interest rate, commodity price and foreign currency exchange rate fluctuations. At times, the Company limits these risks through the use of derivatives such as cross-currency swaps, foreign currency forward contracts, interest rate swaps, commodity forwards and futures. In accordance with the Company's policy, derivatives are only used for hedging purposes. The Company does not use derivatives for trading or speculative purposes. Foreign currency forward contracts are agreements with a counterparty to exchange two distinct currencies at a set exchange rate for delivery on a set date at some point in the future. There is no exchange of funds until the delivery date. At the delivery date, the Company can either take delivery of the currency or settle on a net basis. For further information regarding the foreign currency forward contracts, see Note 18. 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. Foreign exchange transaction losses recognized in other income, net were $13.5 million, $5.7 million and $6.6 million for 2019, 2018 and 2017, respectively. Noncontrolling Interests In accordance with ASC 810, the Company has classified noncontrolling interests as equity on our condensed consolidated balance sheets as of December 31, 2019 and 2018. Net loss attributable to noncontrolling interests was not material for the years ended December 31, 2019, 2018 and 2017, respectively. 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. A majority of the Company’s revenues are derived from performance obligations that are satisfied at a point in time when control passes to the customer which is generally at the time of shipment in accordance with agreed upon delivery terms. The remaining revenues are earned over time. 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 periodically through the year 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 $109.4 million at December 31, 2019 and were not material at December 31, 2018. 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 pre-production 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 $77.0 million at December 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 and 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 $118.5 million and $71.2 million at December 31, 2019 and 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 process where management reviews the progress of long term-projects periodically throughout the year. 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 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. 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, price escalation clauses, 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 allocated transaction price of unsatisifed or partially unsatisfied performance obligations. As of December 31, 2019, the Company's remaining performance obligations were $21.3 billion. The Company expects to recognize revenue of approximately 25% of remaining performance obligations over the next 12 months, with the remainder recognized thereafter. SEC regulations require that revenue categories that exceed 10% of total revenue are presented separately on the company's statement of income. As such, the Company has displayed sales of goods and sales of services, and the related cost, in line with those regulations. Additionally, those regulations also require that goods are to include all sales of tangible products, and services must include all other sales. In Note 21 we refer to sales of both goods, such as spare parts and equipment upgrades, and related services, such as monitoring, maintenance and repairs, as sales in our Services product line. Letters of Credit In the ordinary course of its business, the Company issues letters of credit related to commercial products. The outstanding amount, including the letters of credit issues under the credit facility, were $714.0 million and $354.2 million at December 31, 2019 and 2018, respectively. Pre-Production Costs Certain pre-production costs relating to long-term production and supply contracts have been deferred and will be recognized over the life of the contracts. Deferred pre-production costs were $88.0 million and $16.4 million at December 31, 2019 and 2018, respectively. Significant Customers and Concentrations of Credit Risk The Company’s trade receivables are primarily from rail and transit industry original equipment manufacturers, Class I railroads, railroad carriers and commercial companies that utilize rail cars in their operations, such as utility and chemical companies. No one customer accounted for more than 10% of the Company’s consolidated net sales in 2019, 2018 or 2017. Shipping and Handling Fees and Costs All fees billed to the customer for shipping and handling are classified as a component of net revenues. All costs associated with shipping and handling are classified as a component of cost of sales. Engineering Expenses Engineering expenses are charged to expense as incurred. For the years ended December 31, 2019, 2018 and 2017, the Company incurred costs of approximately $209.9 million, $87.5 million, and $95.2 million, respectively. Earnings Per Share Basic and diluted earnings per common share is computed in accordance with ASC 260 “Earnings Per Share.” Unvested share-based payment awards that contain nonforfeitable rights to dividends or dividend equivalents (whether paid or unpaid) are participating securities and included in the computation of earnings per share pursuant to the two-class method included in ASC 260-10-55 (See Note 12 “Earnings Per Share” included herein). 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 materially 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. Recently Issued Accounting Pronouncements In December 2019, the Financial Accounting Standards Board ("FASB") issued ASU 2019-12, “Income Taxes: Simplifying the Accounting for Income Taxes.” The amendments in this update simplify the accounting for certain income tax transactions by removing specific exceptions to the general principles in Topic 740, Income Taxes. This guidance is effective for fiscal years beginning after December 15, 2020 with early adoption permitted. The Company is currently evaluating the potential impact of adopting this guidance on its consolidated financial statements. In January 2017, the 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 greater than the carrying value as of the Company's last quantitative goodwill impairment test, which was performed as of October 1, 2019. In June 2016, FASB issued ASU 2016-13, "Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments." This updated guidance sets forth a current expected credit loss model based on expected losses. Under this model, an entity recognizes an allowance for expected credit losses based on historical experience, current conditions and forecasted information rather than the current methodology of delaying recognition of credit losses until it is probable a loss has been incurred. This guidance is effective for fiscal years beginning after December 15, 2019 with early adoption permitted. The Company has evaluated the potential impact of adopting this guidance on its consolidated financial statements and does not expect the impact of adopting this new standard to be material. 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 AOCI 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 Note 15.

EMPLOYEE BENEFIT PLANS - Pension Plan Assets by Asset Category (Details) - USD ($) $ in Millions	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	$ 304.1	$ 271.5
United States \| Defined Benefit Pension Plans
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	34.3	31.9	$ 37.4
United States \| Defined Benefit Pension Plans \| Equity security funds
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	16.4	13.2
United States \| Defined Benefit Pension Plans \| Debt security funds and other
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	16.3	17.5
United States \| Defined Benefit Pension Plans \| Cash and cash equivalents
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	1.6	1.2
Foreign Plan \| Defined Benefit Pension Plans
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	269.8	239.4	$ 281.6
Foreign Plan \| Defined Benefit Pension Plans \| Equity security funds
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	70.8	95.1
Foreign Plan \| Defined Benefit Pension Plans \| Debt security funds and other
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	191.3	140.9
Foreign Plan \| Defined Benefit Pension Plans \| Cash and cash equivalents
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	$ 7.7	$ 3.4

EMPLOYEE BENEFIT PLANS - Obligations and Funded Status (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2019	Dec. 31, 2018
Change in plan assets
Fair value of plan assets at beginning of year	$ 271.5
Fair value of plan assets at end of year	304.1	$ 271.5
Fair value of plan assets	304.1	271.5		$ 304.1	$ 271.5
Amounts recognized in the statement of financial position consist of:
Noncurrent liabilities				(113.0)	(95.4)
United States \| Defined Benefit Pension Plans
Change in projected benefit obligation
Obligation at beginning of year	(39.4)	(44.2)
Service cost	(0.3)	(0.3)	$ (0.3)
Interest cost	(1.5)	(1.3)	(1.4)
Employee contributions	0.0	0.0
Plan settlements and amendments	0.0	0.0
Benefits paid	3.0	3.5
Acquisition	0.0	0.0
Actuarial gain (loss)	(2.9)	2.9
Effect of currency rate changes	0.0	0.0
Obligation at end of year	(41.1)	(39.4)	(44.2)
Change in plan assets
Fair value of plan assets at beginning of year	31.9	37.4
Actual return on plan assets	5.3	(2.0)
Employer contributions	0.0	0.0
Employee contributions	0.0	0.0
Benefits paid	(2.9)	(3.5)
Settlements	0.0	0.0
Acquisition	0.0	0.0
Effect of currency rate changes	0.0	0.0
Fair value of plan assets at end of year	34.3	31.9	37.4
Fair value of plan assets	31.9	31.9	37.4	34.3	31.9
Benefit obligations	(39.4)	(39.4)	(44.2)	(41.1)	(39.4)
Funded status				(6.8)	(7.5)
Amounts recognized in the statement of financial position consist of:
Noncurrent assets				0.0	0.0
Current liabilities				0.0	0.0
Noncurrent liabilities				(6.9)	(7.5)
Net amount recognized				(6.9)	(7.5)
Amounts recognized in accumulated other comprehensive income (loss) consist of:
Prior service cost				0.0	0.0
Net actuarial loss				(18.8)	(20.3)
Net amount recognized				(18.8)	(20.3)
Foreign Plan \| Defined Benefit Pension Plans
Change in projected benefit obligation
Obligation at beginning of year	(309.2)	(353.0)
Service cost	(2.7)	(2.6)	(2.7)
Interest cost	(7.0)	(7.0)	(7.3)
Employee contributions	(0.5)	(0.4)
Plan settlements and amendments	4.4	15.2
Benefits paid	13.1	13.5
Acquisition	(5.0)	(0.9)
Actuarial gain (loss)	(32.4)	6.7
Effect of currency rate changes	(8.0)	19.3
Obligation at end of year	(347.3)	(309.2)	(353.0)
Change in plan assets
Fair value of plan assets at beginning of year	239.4	281.6
Actual return on plan assets	23.9	(6.9)
Employer contributions	9.4	10.8
Employee contributions	0.5	0.4
Benefits paid	(13.1)	(13.5)
Settlements	(0.4)	(16.6)
Acquisition	1.2	0.0
Effect of currency rate changes	8.9	(16.4)
Fair value of plan assets at end of year	269.8	239.4	281.6
Fair value of plan assets	239.4	239.4	281.6	269.8	239.4
Benefit obligations	$ (309.2)	$ (309.2)	$ (353.0)	(347.3)	(309.2)
Funded status				(77.5)	(69.8)
Amounts recognized in the statement of financial position consist of:
Noncurrent assets				11.8	8.9
Current liabilities				(2.4)	(2.1)
Noncurrent liabilities				(86.9)	(76.6)
Net amount recognized				(77.5)	(69.8)
Amounts recognized in accumulated other comprehensive income (loss) consist of:
Prior service cost				(1.4)	(1.4)
Net actuarial loss				(78.3)	(58.7)
Net amount recognized				$ (79.7)	$ (60.1)

INCOME TAXES

12 Months Ended

Dec. 31, 2019

Income Tax Disclosure [Abstract]

INCOME TAXES

The Company is responsible for filing consolidated U.S., foreign and combined, unitary or separate state income tax returns. The Company is responsible for paying the taxes relating to such returns, including any subsequent adjustments resulting from the redetermination of such tax liabilities by the applicable taxing authorities.

On December 23, 2017, the French government enacted the Finance Act for 2018 and it was published in the Official Bulletin on December 31, 2017. The Finance act reduced the French corporate tax rate from 28% in 2020 to 25%, enacting an additional 1.5% reduction in each year 2021 and 2022.

On December 22, 2017, the U.S. government enacted comprehensive tax legislation commonly referred to as the Tax Cuts and Jobs Act (the "Tax Act"). The Tax Act makes broad and complex changes to the U.S. tax code that affected fiscal 2017, including, but not limited to requiring a one-time transition tax on certain unrepatriated earnings of foreign subsidiaries that is payable over eight years (the "Transition Tax"). The Tax Act also established new tax laws that affect 2018 and later years, including, but not limited to, a reduction of the U.S. federal corporate tax rate from 35% to 21%, repeals the Domestic Manufacturing Deduction, a general elimination of U.S. federal income taxes on dividends from foreign subsidiaries, new provisions designed to tax global intangible low-taxed income ("GILTI"), tax certain deductible base erosion payments called base erosion and anti-abuse tax (“BEAT”), and new interest expense limitation provisions.

In relation to the analysis of the impact of the all tax law changes, the Company recorded a net tax expense of $4.3 million in fiscal 2017. This included a provisional expense for the U.S. tax reform bill of $55.0 million, as well as a net benefit for the revaluation of deferred tax assets and liabilities of $50.7 million. Of this amount, net tax expense of $27.2 million is related to the Tax Act and a benefit of $22.9 million is related to the French Finance Act for 2018.

In fiscal 2018, the Company completed its accounting for the income tax effects of the Tax Act. The Company adjusted the provisional amounts previously recorded in accordance with SEC Staff Accounting Bulletin No. 118. As such, the Company included the following tax provisions in its financial statements for the year ending December 31, 2018:

Revaluation of deferred tax assets and liabilities: The Tax Act reduced the U.S. federal corporate tax rate from 35% to 21% for tax years beginning after December 31, 2017. In addition, the Tax Act made certain changes to the depreciation rules and implemented new limits on the deductibility of certain executive compensation. The Company evaluated these changes and recorded a provisional benefit to net deferred taxes of $24.6 million at December 31, 2017. As a result of the completion of its 2017 U.S. corporate tax return in fiscal 2018, the Company adjusted its U.S. deferred tax balances which resulted in a benefit of $5.1 million being recorded fiscal 2018. The Company has completed its calculation of the impact of these changes on its

deferred tax balances. As of December 31, 2018, the Company completed its analysis of the impact of the Tax Act on the deductibility of certain executive compensation. As a result, no further adjustments were made during the year ended December 31, 2018.

Transition Tax on unrepatriated foreign earnings: The Transition Tax on unrepatriated foreign earnings is a tax on previously untaxed accumulated and current earnings and profits ("E&P") of the Company's foreign subsidiaries. To determine the amount of the Transition Tax, the Company had to determine, among other factors, the amount of post-1986 E&P of its foreign subsidiaries, as well as the amount of non-U.S. income taxes paid on such earnings. The Company was able to make a reasonable estimate of the Transition Tax and recorded a provisional Transition Tax expense of $51.8 million at December 31, 2017. As of December 31, 2018, the Company completed its calculation of the Transition Tax which resulted in a benefit of $14.4 million for the twelve months ended December 31, 2018.

Global intangible low taxed income ("GILTI"): The Tax Act created a new requirement that certain income (i.e., GILTI) earned by foreign subsidiaries must be included currently in the gross income of the U.S. shareholder. Under U.S. GAAP, the Company is permitted to make an accounting policy election to either treat taxes due on future inclusions in U.S. taxable income related to GILTI as a current-period expense when incurred or to factor such amounts into the Company's measurement of its deferred taxes. The Company has made the election to treat taxes due on future inclusions related to GILTI as current period expense and has included a current period expense of $11.9 million and $9.3 million in its financial statements for the twelve months ended December 31, 2019 and December 31, 2018, respectively.

Indefinite reinvestment assertion: Beginning in 2018, the Tax Act provides a 100% deduction for dividends received from 10-percent owned foreign corporations by U.S. corporate shareholders, subject to a one-year holding period. Although dividend income is now exempt from U.S. federal tax in the hands of the U.S. corporate shareholders, companies must still apply the guidance of ASC 740 to account for the tax consequences of outside basis differences and other tax impacts of their investments in non-U.S. subsidiaries. While the Company has finalized its calculation of the Transition Tax on the deemed repatriated earnings that were previously indefinitely reinvested, the Company was unable to determine a reasonable estimate of the remaining tax liability, if any, under the Tax Act for its remaining outside basis differences. Therefore, the Company has not recorded deferred taxes for this item in its financial statements for fiscal year ended December 31, 2019.

The components of the income from operations before provision for income taxes for the Company’s domestic and foreign operations for the years ended December 31 are provided below:


	For the year ended December 31,
In millions	2019		2018		2017
Domestic	$	117.9	$	145.1	$	140.3
Foreign	328.9		222.5		211.8
Income from operations before income taxes	$	446.8	$	367.6	$	352.1

The consolidated provision for income taxes included in the Statement of Income consisted of the following:


	For the year ended December 31,
In thousands	2019		2018		2017
Current taxes
Federal	$	5.7	$	6.9	$	86.2
State	0.5		5.8		3.6
Foreign	141.4		68.5		67.4
	147.6		81.2		157.2
Deferred taxes
Federal	19.8		4.7		(22.9)
State	2.9		1.3		(1.0)
Foreign	(50.0)		(11.3)		(43.5)
	(27.3)		(5.3)		(67.4)
Total provision	$	120.3	$	75.9	$	89.8

A reconciliation of the United States federal statutory income tax rate to the effective income tax rate on operations for the years ended December 31 is provided below:


	For the year ended December 31,
In millions	2019		2018		2017
U.S. federal statutory rate	21.0	%	21.0	%	35.0	%
State taxes	0.7		1.6		0.4
Foreign	3.2		0.7		(8.3)
Research and development credit	(1.7)		(1.1)		(0.8)
Manufacturing deduction	—		—		(1.1)
France tax rate change	—		—		(6.5)
U.S. tax rate change	—		(0.6)		(7.9)
U.S. tax reform (benefit) provision	2.0		(1.4)		15.6
Transaction costs related to acquisitions	1.0		—		—
Other, net	0.7		0.4		(0.9)
Effective rate	26.9	%	20.6	%	25.5	%

The increase in the effective tax rate in 2019 is primarily the result of non-deductible transaction related expenses incurred as a result of the acquisition of GE Transportation, a higher earnings mix in higher tax jurisdictions, increased estimated liabilities resulting from provisions of the 2017 Tax Cuts and Jobs Act as well as a benefit from the completion of the accounting for the income tax effects of the Tax Act that was recorded in the tax year ending December 31, 2018.

Components of deferred tax assets and liabilities were as follows:


	December 31,
In millions	2019		2018
Deferred income tax assets:
Accrued expenses and reserves	$	35.8	$	13.8
Warranty reserve	46.6		25.9
Deferred compensation/employee benefits	32.3		9.8
Right-of-use asset	63.1		—
Pension and postretirement obligations	28.1		19.5
Inventory	25.8		16.8
Net operating loss carry forwards	95.6		85.1
Other	18.8		19.2
Gross deferred income tax assets	346.1		190.1
Valuation allowance	58.0		41.7
Total deferred income tax assets	288.1		148.4
Deferred income tax liabilities:
Property, plant & equipment	42.7		35.5
Right-of-use liability	63.1		—
Intangibles	235.6		287.4
Total deferred income tax liabilities	341.4		322.9
Net deferred income tax liability	$	(53.3)	$	(174.5)

A valuation allowance is provided when it is more likely than not that some portion or all of the deferred tax assets will not be realized. As of December 31, 2019, the valuation allowance for certain foreign deferred tax asset carryforwards was $58.0 million primarily in China, France, the Netherlands, United Kingdom, and South Africa.

Net operating loss carry-forwards in the amount of $390.5 million expire in various periods from December 31, 2019 to December 31, 2039.

As of December 31, 2019, the liability for income taxes associated with unrecognized tax benefits was $17.2 million, of which $17.2 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. A reconciliation of the beginning and ending amount of the liability for income taxes associated with unrecognized tax benefits follows:


In millions	2019		2018		2017
Gross liability for unrecognized tax benefits at beginning of year	$	9.5	$	6.9	$	8.4
Gross increases - unrecognized tax benefits in prior periods	9.7		5.4		2.5
Gross decreases - audit settlement during year	—		—		(4.0)
Gross decreases - expiration of audit statute of limitations	(2.0)		(2.8)		—
Gross liability for unrecognized tax benefits at end of year	$	17.2	$	9.5	$	6.9

The Company includes interest and penalties related to unrecognized tax benefits in income tax expense. As of December 31, 2019, the total interest and penalties accrued was approximately $4.0 million. As of December 31, 2018, the total interest and penalties accrued was approximately $0.9 million.

With limited exception, the Company is no longer subject to examination by various U.S. and foreign taxing authorities for years before 2014. At this time, the Company believes that it is reasonably possible that unrecognized tax benefits of approximately $7.6 million may change within the next 12 months due to the expiration of statutory review periods and current examinations.

EMPLOYEE BENEFIT PLANS - Benefit Payments Expected to be Paid to Plan Participants (Details) - Defined Benefit Pension Plans $ in Millions	Dec. 31, 2019 USD ($)
United States
Defined Benefit Plan Disclosure [Line Items]
2020	$ 3.2
2021	3.1
2022	3.0
2023	3.0
2024	2.9
2025 through 2029	13.0
Foreign Plan
Defined Benefit Plan Disclosure [Line Items]
2020	16.0
2021	16.5
2022	17.0
2023	17.7
2024	17.9
2025 through 2029	$ 93.4

ACQUISITIONS

12 Months Ended

Dec. 31, 2019

Business Combinations [Abstract]

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, 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. Following this issuance of additional SpinCo common stock to GE, and immediately prior to the Distribution (as defined below), 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 (the "Distribution"). Immediately after the Distribution, Merger Sub merged with and into SpinCo (the "Merger"), 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 February 25, 2019, 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% held by GE directly in shares of Wabtec common stock and 15% underlying the shares of Wabtec convertible preferred stock 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.

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), and Direct Sale Purchaser, which also is Wabtec’s wholly owned subsidiary, 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 and SpinCo, directly or through 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. On August 9, 2019, GE completed a sale of the remaining shares of Series A Preferred Stock outstanding which converted to approximately 3,515,500 shares of common stock, as well as 16,969,656 shares of common stock owned directly by GE. Finally, on September 12, 2019, GE completed a sale of all of its remaining shares of common stock of Wabtec, approximately 2,048,515 shares. In conjunction with these secondary offerings, the Company waived the requirements under the shareholders agreement for GE to maintain certain ownership levels of Wabtec's stock following the closing date of the Merger. The Company did not receive any proceeds from the sale of any 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 acquisition of GE Transportation. 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 acquisition of GE Transportation. The estimated total value of

the consideration to be paid by Wabtec in the acquisition 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 consideration is based on the Company’s closing share price of $73.36 on February 22, 2019 and the fair value of the contingent consideration.

The fair values of the assets acquired and liabilities assumed were determined using the income, cost and market approaches. Discounted cash flow models were used to estimate the fair values of acquired contract backlog, customer relationships, intellectual property intangibles, and below-market customer contracts liabilities. The fair value measurements were primarily based on significant inputs that are not observable in the market and are considered Level 3. The December 31, 2019 consolidated balance sheet includes the assets and liabilities of GE Transportation, which have been initially measured at fair value. The noncontrolling interest includes equity interests in GE Transportation'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 GE Transportation Brazil operations were measured using a Level 1 input. In April 2019, the Company acquired the noncontrolling interest in GE Transportation'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 value of the GE Transportation assets acquired and liabilities assumed:


In millions
Assets acquired
Cash and cash equivalents	$	177.6
Accounts receivable	515.5
Inventories	1,189.2
Other current assets	71.5
Property, plant, and equipment	1,089.6
Goodwill	5,987.5
Trade names	55.0
Customer relationships	550.0
Intellectual property	1,180.0
Backlog	1,440.0
Other noncurrent assets	330.3
Total assets acquired	12,586.2
Liabilities assumed
Current liabilities	1,587.5
Contingent consideration	440.0
Other noncurrent liabilities	652.9
Total liabilities assumed	2,680.4
Net assets acquired	9,905.8
Noncontrolling interest	$	86.8

These estimates are preliminary in nature; however the Company is in the final stages of completing the purchase price allocation and does not expect the final allocation to differ materially from the preliminary allocation included in the table above. Any necessary adjustments will be finalized within one year from the date of acquisition. During the year ended December 31, 2019, the estimated fair value current liabilities and other noncurrent liabilities decreased $92.1 million and increased $129.1 million, respectively, primarily due to estimate revisions for long term contracts and deferred tax liabilities. The revisions to the initial estimates were based on information that existed at 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 approximately $504.7 million of customer contracts whose terms are unfavorable compared to market terms at the date of consummation of the GE Transportation 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, and assembled workforce, that are expected to be achieved as a result of the consummation of the acquisition of GE Transportation. A majority of the purchased goodwill is expected to be deductible for tax purposes. The goodwill has been allocated to the Freight segment.

Included in the Company's consolidated statement of income for the year ended December 31, 2019 is $3.8 billion of revenues and $358.0 million of operating income from GE Transportation. Costs related to the acquisition of GE Transportation were approximately $63.0 million for the year ended December 31, 2019 and are included in selling, general and administrative expenses on the consolidated statements of income.

Other Acquisitions

The Company 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 $45.2 million, net of cash acquired and including contingent consideration, resulting in final goodwill of $38.5 million, none of which will be deductible for tax purposes. A payment of $10.1 million was made in the three months ended June 30, 2019 related to contingent consideration associated with the purchase of Annax.

The following table summarizes the final estimated fair value of the assets acquired and liabilities assumed at the date of acquisition for Annax:


	Annax
	March 22, 2018
In millions
Current assets, net of cash acquired	$	32.8
Property, plant & equipment	0.7
Goodwill	38.5
Other intangible assets	11.7
Total assets acquired	83.7
Total liabilities assumed	(55.1)
Net assets acquired	$	28.6

The $11.7 million of total acquired other intangible assets includes $3.8 million assigned to trade names and $7.5 million 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 Company also made smaller acquisitions not listed above which are individually and collectively immaterial.

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


	For the year ended December 31,
In millions	2019		2018
Net sales	$	8,675.6	$	8,030.5
Gross profit	2,528.3		2,102.8
Net income attributable to Wabtec shareholders	485.1		234.8
Diluted earnings per share
As Reported	$	1.84	$	3.05
Pro forma	$	2.53	$	1.22

The historical consolidated financial information of the Company and the acquisitions detailed above have been adjusted in the pro forma information to give effect to pro forma events that are (1) directly attributable to the transactions, (2) factually supportable and (3) expected to have a continuing impact on the combined results. Pro forma data may not be indicative of the results that would have been obtained had these acquisitions occurred at the beginning of the periods presented, nor is it intended to be a projection of future results.

LONG-TERM DEBT - Narrative (Details) - USD ($)			12 Months Ended
LONG-TERM DEBT - Narrative (Details) - USD ($)	Feb. 12, 2019	Sep. 14, 2018	Dec. 31, 2019	Dec. 31, 2018	Jun. 08, 2018
Debt Instrument [Line Items]
Total unamortized debt issuance costs			$ 21,300,000	$ 26,500,000
Maximum borrowing capacity			$ 1,200,000,000.0
Interest rate swap agreements
Debt Instrument [Line Items]
Interest rate on notional value (as a percent)			3.08%
2018 Refinancing Credit Agreement \| LIBOR
Debt Instrument [Line Items]
Maximum unrestricted cash			$ 300,000,000.0
Senior Notes
Debt Instrument [Line Items]
Total unamortized debt issuance costs		$ 18,000,000.0
Par value		2,500,000,000
Discount at issuance		2,900,000
Debt issuance face value (as a percent)			101.00%
Interest rate increase	0.25%
Senior Notes \| Floating Rate Notes Due 2021
Debt Instrument [Line Items]
Par value		500,000,000.0
Discount at issuance		$ 0
Senior Notes \| Floating Rate Notes Due 2021 \| LIBOR
Debt Instrument [Line Items]
Debt instrument spread on variable rate		1.05%
Senior Notes \| 4.150 Percent Senior Notes Due Twenty Thousand and Twenty Four
Debt Instrument [Line Items]
Par value		$ 750,000,000.0
Discount at issuance		$ 1,500,000
Stated interest rate (as a percent)		4.15%	4.15%	4.15%
Senior Notes \| 4.70 Percent Senior Notes Due Twenty Thousand and Twenty Six
Debt Instrument [Line Items]
Par value		$ 1,250,000,000.0
Discount at issuance		$ 1,400,000
Stated interest rate (as a percent)		4.70%	4.70%	4.70%
Line of Credit \| 2018 Refinancing Credit Agreement \| LIBOR
Debt Instrument [Line Items]
Debt instrument spread on variable rate			1.375%
Line of Credit \| 2018 Refinancing Credit Agreement \| Base Rate
Debt Instrument [Line Items]
Debt instrument spread on variable rate			0.375%
Line of Credit \| 2018 Refinancing Credit Agreement \| Revolving Credit Facility
Debt Instrument [Line Items]
Maximum borrowing capacity					$ 1,200,000,000.0
Commitment fee percentage			0.15%
Uncommitted accordion feature					600,000,000.0
Line of Credit \| 2018 Refinancing Credit Agreement \| Revolving Credit Facility \| Minimum
Debt Instrument [Line Items]
Commitment fee percentage			0.10%
Line of Credit \| 2018 Refinancing Credit Agreement \| Revolving Credit Facility \| Maximum
Debt Instrument [Line Items]
Commitment fee percentage			0.30%
Line of Credit \| 2018 Refinancing Credit Agreement \| Term Loan
Debt Instrument [Line Items]
Maximum borrowing capacity					350,000,000.0
Quarterly repayment amount (as a percent)			2.50%
Line of Credit \| 2018 Refinancing Credit Agreement \| Term Loan \| Base Rate
Debt Instrument [Line Items]
Debt instrument spread on variable rate			0.375%
Line of Credit \| 2018 Refinancing Credit Agreement \| Term Loan \| Eurodollar
Debt Instrument [Line Items]
Debt instrument spread on variable rate			1.375%
Line of Credit \| 2018 Refinancing Credit Agreement \| Delayed Draw Term Loan
Debt Instrument [Line Items]
Maximum borrowing capacity					400,000,000.0
Line of Credit \| 2018 Refinancing Credit Agreement \| Letter of Credit
Debt Instrument [Line Items]
Maximum borrowing capacity					450,000,000.0
Line of Credit \| 2018 Refinancing Credit Agreement \| Swing Line Sub Facility
Debt Instrument [Line Items]
Maximum borrowing capacity					$ 75,000,000.0

OTHER COMPREHENSIVE LOSS - Reclassifications Out of Accumulated Other Comprehensive Loss (Details) - USD ($) $ in Millions	3 Months Ended								12 Months Ended
	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Reclassification Adjustment Out Of Accumulated Other Comprehensive Income On Derivatives [Line Items]
Interest expense, net									$ (219.1)	$ (112.2)	$ (77.9)
Income tax expense									(120.3)	(75.9)	(89.8)
Net income attributable to Wabtec shareholders	$ 135.7	$ 91.1	$ 104.1	$ (4.2)	$ 34.4	$ 87.7	$ 84.4	$ 88.4	326.7	294.9	$ 262.3
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, net									(1.5)	(1.5)
Reclassification out of Accumulated Other Comprehensive Income \| Amortization of net loss (gain)
Reclassification Adjustment Out Of Accumulated Other Comprehensive Income On Derivatives [Line Items]
Other income, net									4.4	4.3
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, net									2.9	2.8
Income tax expense									(0.8)	(0.7)
Net income attributable to Wabtec shareholders									$ 2.1	2.1
Reclassification out of Accumulated Other Comprehensive Income \| Derivative contracts
Reclassification Adjustment Out Of Accumulated Other Comprehensive Income On Derivatives [Line Items]
Interest expense, net										4.9
Income tax expense										(1.2)
Net income attributable to Wabtec shareholders										$ 3.7

GUARANTOR SUBSIDIARIES FINANCIAL INFORMATION (Tables)

12 Months Ended

Dec. 31, 2019

Condensed Financial Information Disclosure [Abstract]

Condensed Balance Sheet

Balance Sheet for December 31, 2019:


In millions	Parent		Guarantors		Non-Guarantors		Elimination		Consolidated
Cash, cash equivalents, and restricted cash	$	24.0	$	14.7	$	565.5	$	—	$	604.2
Receivables, net	103.5		298.2		1,262.2		—		1,663.9
Inventories	135.3		763.1		874.7		—		1,773.1
Current assets - other	(0.8)		22.0		129.7		—		150.9
Total current assets	262.0		1,098.0		2,832.1		—		4,192.1
Property, plant and equipment	73.2		65.0		1,517.6		—		1,655.8
Goodwill	564.1		283.2		7,513.3		—		8,360.6
Investment in subsidiaries	15,566.2		6,583.9		—		(22,150.1)		—
Other intangibles, net	35.8		731.2		3,337.0		—		4,104.0
Other long term assets	105.6		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-company	1,357.6		(2,546.3)		1,188.7		—		—
Long-term debt	4,321.8		—		11.8		—		4,333.6
Long-term liabilities - other	385.0		154.1		819.9		—		1,359.0
Total liabilities	6,650.4		(1,282.6)		3,582.8		—		8,950.6
Shareholders' equity	9,941.5		10,160.1		12,005.0		(22,150.1)		9,956.5
Non-controlling interest	15.0		—		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 millions	Parent		Guarantors		Non-Guarantors		Elimination		Consolidated
Cash and cash equivalents	$	1,782.6	$	(0.1)	$	559.8	$	—	$	2,342.3
Receivables, net	106.8		61.5		978.5		—		1,146.8
Inventories	149.7		69.1		626.1		—		844.9
Current assets - other	11.9		0.7		103.0		—		115.6
Total current assets	2,051.0		131.2		2,267.4		—		4,449.6
Property, plant and equipment	51.6		24.8		487.4		—		563.8
Goodwill	25.3		283.2		2,088.0		—		2,396.5
Investment in subsidiaries	6,708.0		4,022.1		—		(10,730.1)		—
Other intangibles, net	29.3		78.5		1,022.1		—		1,129.9
Other long term assets	8.8		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-company	1,947.5		(1,436.2)		(511.3)		—		—
Long-term debt	3,779.7		—		13.1		—		3,792.8
Long-term liabilities - other	17.1		48.6		275.0		—		340.7
Total liabilities	6,008.8		(1,296.6)		1,067.9		—		5,780.1
Shareholders' equity	2,865.2		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

Condensed Income Statement

Income Statement for the Year Ended December 31, 2019:


In millions	Parent		Guarantors		Non-Guarantors		Elimination		Consolidated
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 expense	23.8		(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 millions	Parent		Guarantors		Non-Guarantors		Elimination		Consolidated
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 operations	2.9		121.5		449.5		(100.5)		473.4
Interest (expense) income, net	(110.8)		12.8		(14.2)		—		(112.2)
Other income (expense), net	13.5		—		(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 millions	Parent		Guarantors		Non-Guarantors		Elimination		Consolidated
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 operations	22.3		91.5		337.9		(30.6)		421.1
Interest (expense) income, net	(76.8)		10.9		(12.0)		—		(77.9)
Other income (expense), net	10.0		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 Cash Flow Statement

Condensed Statement of Cash Flows for the year ended December 31, 2019:


In millions	Parent		Guarantors		Non-Guarantors		Elimination		Consolidated
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 activities	6,849.3		(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 year	1,782.6		(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 millions	Parent		Guarantors		Non-Guarantors		Elimination		Consolidated
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 activities	1,885.7		(128.8)		120.7		100.5		1,978.1
Effect of changes in currency exchange rates	—		—		(36.6)		—		(36.6)
Increase (decrease) in cash	1,781.7		(0.7)		327.9		—		2,108.9
Cash and cash equivalents, beginning of year	0.9		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 millions	Parent		Guarantors		Non-Guarantors		Elimination		Consolidated
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 activities	58.8		(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 year	2.5		1.2		1,139.5		—		1,143.2
Cash and cash equivalents, end of year	$	0.9	$	0.6	$	231.9	$	—	$	233.4

PROPERTY, PLANT & EQUIPMENT (Tables)

12 Months Ended

Dec. 31, 2019

Property, Plant and Equipment [Abstract]

Major Classes of Depreciable Assets

The major classes of depreciable assets are as follows:


	December 31,
In millions	2019		2018
Machinery and equipment	$	1,363.8	$	749.8
Buildings and improvements	774.2		248.1
Land and improvements	78.0		38.7
Property, plant and equipment	2,216.0		1,036.6
Less: accumulated depreciation	(560.2)		(472.8)
Total	$	1,655.8	$	563.8

Estimated Useful Lives of Property Plant and Equipment

The estimated useful lives of property, plant and equipment are as follows:


			Years
Land improvements			10 to 20
Building and improvements			20 to 40
Machinery and equipment			3 to 15

STOCK-BASED COMPENSATION PLANS - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Stock-based compensation expense			$ 50.0	$ 25.3	$ 21.3
Tax benefits related to stock-based compensation plans			1.4	$ 6.3	$ 8.9
Unamortized compensation expense expected to be vested			$ 41.9
Unamortized compensation expense expected to be vested, period for recognition			1 year 4 months 24 days
Risk-free interest rate, year			7 years
Employee Stock Option
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Stock-based compensation expense			$ 2.3
Non-Vested Restricted Stock
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Stock-based compensation expense			20.8
Restricted Stock Units (RSUs)
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Stock-based compensation expense			$ 9.4
Incentive Stock Awards
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Award vesting period			3 years
Stock-based compensation expense			$ 16.5
Percentage of incentive stock awards expected to be vested and awarded of stocks granted			115.00%
Incentive Stock Awards \| 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	108.00%	111.00%
Incentive Stock Awards \| Minimum
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Percentage of incentive stock awards expected to be vested and awarded of stocks granted			0.00%
Incentive Stock Awards \| Maximum
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Percentage of incentive stock awards expected to be vested and awarded of stocks granted			200.00%
Directors Plan
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Shares issued			909,881
Stock-based compensation expense			$ 1.0
Directors Plan \| Employee Stock Option
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Shares authorized for grants			1,000,000
Plan term, years			10 years
Award vesting period			3 years
Directors Plan \| Restricted Stock
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Award vesting period			1 year
Shares issued			15,729	12,960	16,500
Directors Plan \| Restricted Stock Units (RSUs)
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Award vesting period			1 year
Plan 2011
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Number of shares available for grant			1,870,396
Plan 2011 \| Employee Stock Option
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Plan term, years			10 years
Award vesting period			3 years
Plan 2011 \| Restricted Stock
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Award vesting period			3 years
Plan 2000 \| Employee Stock Option
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Plan term, years			10 years
Award vesting period			3 years
Plan 2000 \| Restricted Stock
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Award vesting period			3 years

Schedule II - Valuation And Qualifying Accounts

12 Months Ended

Dec. 31, 2019

SEC Schedule, 12-09, Valuation and Qualifying Accounts [Abstract]

Valuation And Qualifying Accounts

SCHEDULE II

WESTINGHOUSE AIR BRAKE TECHNOLOGIES CORPORATION

VALUATION AND QUALIFYING ACCOUNTS

For each of the three years ended December 31


In millions	Balance at beginning of period		Charged/ (credited) to expense		Charged/ (credited) to other accounts (1)		Deductions from reserves (2)		Balance at end of period
2019
Allowance for doubtful accounts	$	16.9	$	7.1	$	0.2	$	4.5	$	19.9
Valuation allowance-taxes	41.8		16.2		—		—		58.0
2018
Allowance for doubtful accounts	$	12.3	$	9.5	$	(0.4)	$	4.5	$	16.9
Valuation allowance-taxes	25.7		27.4		—		11.3		41.8
2017
Allowance for doubtful accounts	$	7.3	$	2.6	$	5.0	$	2.6	$	12.3
Valuation allowance-taxes	21.4		4.3		—		—		25.7

(1)Reserves of acquired/(sold) companies; valuation allowances for state and foreign deferred tax assets; impact of fluctuations in foreign currency exchange rates.

(2)Actual disbursements and/or charges.

STOCK-BASED COMPENSATION PLANS - Stock Options Outstanding (Details)	12 Months Ended
	Dec. 31, 2019 $ / shares shares
Share Based Compensation Shares Authorized Under Stock Option Plans Exercise Price Range [Line Items]
Number of options outstanding (in shares) \| shares	588,024
Weighted average exercise price of options outstanding (in dollars per share)	$ 63.36
Number of options currently exercisable (in shares) \| shares	383,150
Weighted average exercise price of options currently exercisable (in dollars per share)	$ 55.25
Under $35.00
Share Based Compensation Shares Authorized Under Stock Option Plans Exercise Price Range [Line Items]
Exercise price, high range (in dollars per share)	$ 35.00
Number of options outstanding (in shares) \| shares	67,026
Weighted average exercise price of options outstanding (in dollars per share)	$ 28.41
Weighted average remaining contractual life (in years)	1 year 1 month 6 days
Number of options currently exercisable (in shares) \| shares	67,026
Weighted average exercise price of options currently exercisable (in dollars per share)	$ 28.41
35.00 - 50.00
Share Based Compensation Shares Authorized Under Stock Option Plans Exercise Price Range [Line Items]
Exercise price, high range (in dollars per share)	35.00
Exercise price, low range (in dollars per share)	$ 50.00
Number of options outstanding (in shares) \| shares	107,033
Weighted average exercise price of options outstanding (in dollars per share)	$ 41.36
Weighted average remaining contractual life (in years)	2 years 7 months 6 days
Number of options currently exercisable (in shares) \| shares	107,033
Weighted average exercise price of options currently exercisable (in dollars per share)	$ 41.36
50.00 - 65.00
Share Based Compensation Shares Authorized Under Stock Option Plans Exercise Price Range [Line Items]
Exercise price, high range (in dollars per share)	50.00
Exercise price, low range (in dollars per share)	$ 65.00
Number of options outstanding (in shares) \| shares	64,167
Weighted average exercise price of options outstanding (in dollars per share)	$ 61.33
Weighted average remaining contractual life (in years)	6 years 1 month 6 days
Number of options currently exercisable (in shares) \| shares	48,373
Weighted average exercise price of options currently exercisable (in dollars per share)	$ 61.33
65.00 - 80.00
Share Based Compensation Shares Authorized Under Stock Option Plans Exercise Price Range [Line Items]
Exercise price, high range (in dollars per share)	65.00
Exercise price, low range (in dollars per share)	$ 80.00
Number of options outstanding (in shares) \| shares	227,639
Weighted average exercise price of options outstanding (in dollars per share)	$ 71.20
Weighted average remaining contractual life (in years)	8 years 1 month 6 days
Number of options currently exercisable (in shares) \| shares	77,731
Weighted average exercise price of options currently exercisable (in dollars per share)	$ 59.39
Over 80.00
Share Based Compensation Shares Authorized Under Stock Option Plans Exercise Price Range [Line Items]
Exercise price, low range (in dollars per share)	$ 80.00
Number of options outstanding (in shares) \| shares	122,159
Weighted average exercise price of options outstanding (in dollars per share)	$ 88.27
Weighted average remaining contractual life (in years)	6 years 6 months
Number of options currently exercisable (in shares) \| shares	82,987
Weighted average exercise price of options currently exercisable (in dollars per share)	$ 87.45

EMPLOYEE BENEFIT PLANS - Components of Net Periodic Benefit Costs (Details) - Defined Benefit Pension Plans - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
United States
Defined Benefit Plan Disclosure [Line Items]
Service cost	$ 0.3	$ 0.3	$ 0.3
Interest cost	1.5	1.3	1.4
Expected return on plan assets	(1.7)	(1.8)	(1.7)
Amortization of initial net obligation and prior service cost	0.0	0.0	0.0
Amortization of net loss	0.8	1.0	1.0
Settlement and curtailment losses recognized	0.0	0.0	0.0
Net periodic benefit cost	0.9	0.8	1.0
Foreign Plan
Defined Benefit Plan Disclosure [Line Items]
Service cost	2.7	2.6	2.7
Interest cost	7.0	7.0	7.3
Expected return on plan assets	(11.8)	(13.5)	(12.4)
Amortization of initial net obligation and prior service cost	0.1	0.0	0.0
Amortization of net loss	2.5	2.1	2.8
Settlement and curtailment losses recognized	0.0	3.1	0.8
Net periodic benefit cost	$ 0.5	$ 1.3	$ 1.2

EARNINGS PER SHARE - Narrative (Details) - shares shares in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Earnings Per Share [Abstract]
Shares not included in computation of diluted earnings per share	312	135	24

INCOME TAXES - Uncertain Tax Positions (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward]
Gross liability for unrecognized tax benefits at beginning of year	$ 9.5	$ 6.9	$ 8.4
Gross increases - unrecognized tax benefits in prior periods	9.7	5.4	2.5
Gross decreases - audit settlement during year	0.0	0.0	(4.0)
Gross decreases - expiration of audit statute of limitations	(2.0)	(2.8)	0.0
Gross liability for unrecognized tax benefits at end of year	$ 17.2	$ 9.5	$ 6.9

CONTRACT ASSETS AND CONTRACT LIABILITIES (Tables)

12 Months Ended

Dec. 31, 2019

Revenue from Contract with Customer [Abstract]

Contract with Customer, Asset and Liability

The change in the carrying amount of contract assets and contract liabilities for the twelve months ended December 31, 2019, and 2018 is as follows:


	Contract Assets
In millions	2019		2018
Balance at beginning of year	$	345.6	$	366.2
Acquisitions	237.5		0.0
Recognized in current year	619.3		426.8
Reclassified to accounts receivable	(578.6)		(432.3)
Foreign currency impact	(0.4)		(15.1)
Balance at December 31	$	623.4	$	345.6

	Contract Liabilities
In millions	2019		2018
Balance at beginning of year	$	444.8	$	463.7
Acquisitions	333.9		0.0
Recognized in current year	917.5		230.1
Amounts in beginning balance reclassified to revenue	(410.6)		(199.7)
Current year amounts reclassified to revenue	(483.5)		(30.9)
Foreign currency impact	(2.4)		(18.4)
Balance at December 31	$	799.7	$	444.8

COVER PAGE - USD ($) $ in Billions	12 Months Ended
COVER PAGE - USD ($) $ in Billions	Dec. 31, 2019	Feb. 14, 2020	Jun. 30, 2019
Cover page.
Document Type	10-K
Document Annual Report	true
Document Period End Date	Dec. 31, 2019
Document Transition Report	false
Entity File Number	033-90866
Entity Registrant Name	WESTINGHOUSE AIR BRAKE TECHNOLOGIES CORP
Entity Incorporation, State or Country Code	DE
EIN	25-1615902
Entity Address, Address Line One	30 Isabella Street
Entity Address, City or Town	Pittsburgh
Entity Address, State or Province	PA
Entity Address, Postal Zip Code	15212
City Area Code	(412)
Local Phone Number	825-1000
Title of 12(b) Security	Common Stock, par value $.01 per share
Trading Symbol	WAB
Security Exchange Name	NYSE
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Emerging Growth Company	false
Entity Small Business	false
Entity Shell Company	false
Entity Public Float			$ 12.7
Entity Common Stock, Shares Outstanding (in shares)		191,711,224
Documents Incorporated by Reference	Portions of the Proxy Statement for the registrant’s Annual Meeting of Stockholders to be held on May 15, 2020 are incorporated by reference into Part III of this Form 10-K.
Entity Central Index Key	0000943452
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	FY
Amendment Flag	false

GUARANTOR SUBSIDIARIES FINANCIAL INFORMATION

12 Months Ended

Dec. 31, 2019

Condensed Financial Information Disclosure [Abstract]

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 millions	Parent		Guarantors		Non-Guarantors		Elimination		Consolidated
Cash, cash equivalents, and restricted cash	$	24.0	$	14.7	$	565.5	$	—	$	604.2
Receivables, net	103.5		298.2		1,262.2		—		1,663.9
Inventories	135.3		763.1		874.7		—		1,773.1
Current assets - other	(0.8)		22.0		129.7		—		150.9
Total current assets	262.0		1,098.0		2,832.1		—		4,192.1
Property, plant and equipment	73.2		65.0		1,517.6		—		1,655.8
Goodwill	564.1		283.2		7,513.3		—		8,360.6
Investment in subsidiaries	15,566.2		6,583.9		—		(22,150.1)		—
Other intangibles, net	35.8		731.2		3,337.0		—		4,104.0
Other long term assets	105.6		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-company	1,357.6		(2,546.3)		1,188.7		—		—
Long-term debt	4,321.8		—		11.8		—		4,333.6
Long-term liabilities - other	385.0		154.1		819.9		—		1,359.0
Total liabilities	6,650.4		(1,282.6)		3,582.8		—		8,950.6
Shareholders' equity	9,941.5		10,160.1		12,005.0		(22,150.1)		9,956.5
Non-controlling interest	15.0		—		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 millions	Parent		Guarantors		Non-Guarantors		Elimination		Consolidated
Cash and cash equivalents	$	1,782.6	$	(0.1)	$	559.8	$	—	$	2,342.3
Receivables, net	106.8		61.5		978.5		—		1,146.8
Inventories	149.7		69.1		626.1		—		844.9
Current assets - other	11.9		0.7		103.0		—		115.6
Total current assets	2,051.0		131.2		2,267.4		—		4,449.6
Property, plant and equipment	51.6		24.8		487.4		—		563.8
Goodwill	25.3		283.2		2,088.0		—		2,396.5
Investment in subsidiaries	6,708.0		4,022.1		—		(10,730.1)		—
Other intangibles, net	29.3		78.5		1,022.1		—		1,129.9
Other long term assets	8.8		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-company	1,947.5		(1,436.2)		(511.3)		—		—
Long-term debt	3,779.7		—		13.1		—		3,792.8
Long-term liabilities - other	17.1		48.6		275.0		—		340.7
Total liabilities	6,008.8		(1,296.6)		1,067.9		—		5,780.1
Shareholders' equity	2,865.2		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 millions	Parent		Guarantors		Non-Guarantors		Elimination		Consolidated
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 expense	23.8		(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 millions	Parent		Guarantors		Non-Guarantors		Elimination		Consolidated
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 operations	2.9		121.5		449.5		(100.5)		473.4
Interest (expense) income, net	(110.8)		12.8		(14.2)		—		(112.2)
Other income (expense), net	13.5		—		(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 millions	Parent		Guarantors		Non-Guarantors		Elimination		Consolidated
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 operations	22.3		91.5		337.9		(30.6)		421.1
Interest (expense) income, net	(76.8)		10.9		(12.0)		—		(77.9)
Other income (expense), net	10.0		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 millions	Parent		Guarantors		Non-Guarantors		Elimination		Consolidated
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 activities	6,849.3		(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 year	1,782.6		(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 millions	Parent		Guarantors		Non-Guarantors		Elimination		Consolidated
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 activities	1,885.7		(128.8)		120.7		100.5		1,978.1
Effect of changes in currency exchange rates	—		—		(36.6)		—		(36.6)
Increase (decrease) in cash	1,781.7		(0.7)		327.9		—		2,108.9
Cash and cash equivalents, beginning of year	0.9		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 millions	Parent		Guarantors		Non-Guarantors		Elimination		Consolidated
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 activities	58.8		(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 year	2.5		1.2		1,139.5		—		1,143.2
Cash and cash equivalents, end of year	$	0.9	$	0.6	$	231.9	$	—	$	233.4

EMPLOYEE BENEFIT PLANS

12 Months Ended

Dec. 31, 2019

Retirement Benefits [Abstract]

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 significant defined benefit pension plans summarized by U.S. and international components.

Obligations and Funded Status


	U.S.						International
In millions	2019		2018		2019		2018
Change in projected benefit obligation
Obligation at beginning of year	$	(39.4)	$	(44.2)	$	(309.2)	$	(353.0)
Service cost	(0.3)		(0.3)		(2.7)		(2.6)
Interest cost	(1.5)		(1.3)		(7.0)		(7.0)
Employee contributions	—		—		(0.5)		(0.4)
Plan settlements and amendments	—		—		4.4		15.2
Benefits paid	3.0		3.5		13.1		13.5
Acquisition	—		—		(5.0)		(0.9)
Actuarial gain (loss)	(2.9)		2.9		(32.4)		6.7
Effect of currency rate changes	—		—		(8.0)		19.3
Obligation at end of year	$	(41.1)	$	(39.4)	$	(347.3)	$	(309.2)
Change in plan assets
Fair value of plan assets at beginning of year	$	31.9	$	37.4	$	239.4	$	281.6
Actual return on plan assets	5.3		(2.0)		23.9		(6.9)
Employer contributions	—		—		9.4		10.8
Employee contributions	—		—		0.5		0.4
Benefits paid	(2.9)		(3.5)		(13.1)		(13.5)
Settlements	—		—		(0.4)		(16.6)
Acquisition	—		—		1.2		—
Effect of currency rate changes	—		—		8.9		(16.4)
Fair value of plan assets at end of year	$	34.3	$	31.9	$	269.8	$	239.4
Funded status
Fair value of plan assets	$	34.3	$	31.9	$	269.8	$	239.4
Benefit obligations	(41.1)		(39.4)		(347.3)		(309.2)
Funded status	$	(6.8)	$	(7.5)	$	(77.5)	$	(69.8)
Amounts recognized in the statement of financial position consist of:
Noncurrent assets	$	—	$	—	$	11.8	$	8.9
Current liabilities	—		—		(2.4)		(2.1)
Noncurrent liabilities	(6.9)		(7.5)		(86.9)		(76.6)
Net amount recognized	$	(6.9)	$	(7.5)	$	(77.5)	$	(69.8)
Amounts recognized in accumulated other comprehensive income (loss) consist of:
Prior service cost	—		—		(1.4)		(1.4)
Net actuarial loss	(18.8)		(20.3)		(78.3)		(58.7)
Net amount recognized	$	(18.8)	$	(20.3)	$	(79.7)	$	(60.1)

The aggregate accumulated benefit obligation for the U.S. pension plans was $40.2 million and $38.8 million as of December 31, 2019 and 2018, respectively. The aggregate accumulated benefit obligation for the international pension plans was $336.0 million and $301.1 million as of December 31, 2019 and 2018, respectively.


	U.S.						International
In millions	2019		2018		2019		2018
Information for pension plans with accumulated benefit obligations in excess of Plan assets:
Projected benefit obligation	$	(41.1)	$	(39.4)	$	(283.1)	$	(251.0)
Accumulated benefit obligation	(40.2)		(38.8)		(272.6)		(243.6)
Fair value of plan assets	34.3		31.9		193.9		172.3
Information for pension plans with projected benefit obligations in
excess of plan assets:
Projected benefit obligation	$	(41.1)	$	(39.5)	$	(284.4)	$	(251.0)
Fair value of plan assets	34.3		32.0		195.1		172.3

Components of Net Periodic Benefit Costs


	U.S.										International
In millions	2019		2018		2017		2019		2018		2017
Service cost	$	0.3	$	0.3	$	0.3	$	2.7	$	2.6	$	2.7
Interest cost	1.5		1.3		1.4		7.0		7.0		7.3
Expected return on plan assets	(1.7)		(1.8)		(1.7)		(11.8)		(13.5)		(12.4)
Amortization of initial net obligation and prior service cost	—		—		—		0.1		—		—
Amortization of net loss	0.8		1.0		1.0		2.5		2.1		2.8
Settlement and curtailment losses recognized	—		—		—		—		3.1		0.8
Net periodic benefit cost	$	0.9	$	0.8	$	1.0	$	0.5	$	1.3	$	1.2

Other Changes in Plan Assets and Benefit Obligations Recognized in Other Comprehensive Income during 2019 are as follows:


In millions	U.S.		International
Net gain (loss) arising during the year	$	0.7	$	(20.3)
Effect of exchange rates	—		(2.1)
Amortization, settlement, or curtailment recognition of net transition obligation	—		0.4
Amortization or curtailment recognition of prior service cost	—		0.1
Amortization or settlement recognition of net loss	0.8		2.5
Total recognized in other comprehensive gain	$	1.5	$	(19.4)
Total recognized in net periodic benefit cost and other comprehensive gain	$	0.6	$	(19.9)

The weighted average assumptions in the following table represent the rates used to develop the actuarial present value of the projected benefit obligation for the year listed.


	U.S.										International
	2019		2018		2017		2019		2018		2017
Discount rate	3.27	%	4.30	%	3.56	%	1.84	%	2.53	%	2.40	%
Expected return on plan assets	5.35	%	5.15	%	4.95	%	5.01	%	5.10	%	5.02	%
Rate of compensation increase	3.00	%	3.00	%	3.00	%	2.64	%	2.61	%	2.54	%

The discount rate is based on settling the pension obligation with high grade, high yield corporate bonds, and the rate of compensation increase is based on actual experience. The expected return on plan assets is based on historical performance as well as expected future rates of return on plan assets considering the current investment portfolio mix and the long-term investment strategy.

As of December 31, 2019, the following table represents the amounts included in other comprehensive loss that are expected to be recognized as components of periodic benefit costs in 2020.


In millions	U.S.		International
Prior service cost	—		0.1
Net actuarial loss	1.0		4.3
	$	1.0	$	4.4

Pension Plan Assets

The Company has established formal investment policies for the assets associated with our pension plans. Objectives include maximizing long-term return at acceptable risk levels and diversifying among asset classes. Asset allocation targets are based on periodic asset liability study results which help determine the appropriate investment strategies. The investment policies permit variances from the targets within certain parameters. The plan assets consist primarily of equity security funds, debt security funds, and temporary cash and cash equivalent investments. The assets held in these funds are generally actively managed and are valued at the net asset value per share multiplied by the number of shares held as of the measurement date. (See Note 19 “Fair Value Measurement” included herein). Plan assets by asset category at December 31, 2019 and 2018 are as follows:


	U.S.						International
In millions	2019		2018		2019		2018
Pension Plan Assets
Equity security funds	$	16.4	$	13.2	$	70.8	$	95.1
Debt security funds and other	16.3		17.5		191.3		140.9
Cash and cash equivalents	1.6		1.2		7.7		3.4
Fair value of plan assets	$	34.3	$	31.9	$	269.8	$	239.4

The U.S. plan has a target asset allocation of 55% equity securities and 45% debt securities. The International plan has a target asset allocation of 26% equity securities, 53% debt securities and 21% in other investments. Investment policies are determined by the respective Plan’s Pension Committee and set forth in its Investment Policy. Rebalancing of the asset allocation occurs on a quarterly basis.

The following tables summarize our pension plan assets measured at fair value on a recurring basis by fair value hierarchy level (See Note 19):


	December 31, 2019
In millions	NAV		Level 1		Level 2		Level 3		Total
US:
Equity	$	—	$	16.4	$	—	$	—	$	16.4
Debt Securities and other	—		3.5		12.8		—		16.3
Cash and cash equivalents	—		1.5		—		—		1.5
International:
Equity	$	4.9	$	19.9	$	46.0	$	—	$	70.8
Debt Securities and other	—		3.1		179.2		—		182.4
Insurance Contracts	—		—		4.3		4.6		8.9
Cash and cash equivalents	—		7.0		0.7		—		7.8
Total	$	4.9	$	51.5	$	243.1	$	4.6	$	304.1


	December 31, 2018
In millions	NAV		Level 1		Level 2		Level 3		Total
US:
Equity	$	—	$	13.2	$	—	$	—	$	13.2
Debt Securities	—		4.5		13.0		—		17.5
Cash and cash equivalents	—		1.3		—		—		1.3
International:
Equity	$	3.7	$	34.8	$	56.5	$	—	$	95.1
Debt Securities	—		—		125.6		—		125.6
Insurance Contracts	—		—		5.4		9.9		15.3
Cash and cash equivalents	—		3.5		—		—		3.5
Total	$	3.7	$	57.4	$	200.5	$	9.9	$	271.5

The following table presents a reconciliation of Level 3 assets:


In millions	Total
Balance at December 31, 2017	$	13.1
Net purchases, issuances, and settlements	(3.6)
Actual return of plan assets	0.3
Transfers	0.7
Effect of currency rate changes	(0.5)
Balance at December 31, 2018	$	9.9
Net purchases, issuances, and settlements	0.2
Actual return of plan assets	0.3
Transfers	(5.8)
Effect of currency rate changes	—
Balance at December 31, 2019	$	4.6

Cash Flows

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 $2.1 million and $8.8 million to the U.S. and international plans respectively during 2020.

Benefit payments expected to be paid to plan participants are as follows:


In millions	U.S.		International
Year ended December 31,
2020	$	3.2	$	16.0
2021	3.1		16.5
2022	3.0		17.0
2023	3.0		17.7
2024	2.9		17.9
2025 through 2029	13.0		93.4

Defined Contribution Plans

The Company also participates in certain defined contribution plans and multiemployer pension plans. Costs recognized under these plans are summarized as follows:


	For the year ended December 31,
In millions	2019		2018		2017
Multi-employer pension and health & welfare plans	$	0.9	$	1.0	$	1.5
401(k) savings and other defined contribution plans	55.7		27.9		23.2
Total	$	56.6	$	28.8	$	24.7

The 401(k) savings plan is a participant directed defined contribution plan that holds shares of the Company’s stock as one of the investment options. At December 31, 2019 and 2018, the plan held on behalf of its participants about 431,744 shares with a market value of $33.6 million, and 442,239 shares with a market value of $31.1 million, respectively. Additionally, the Company has stock option based benefit and other plans further described in Note 13.

The Company contributes to a multi-employer defined benefit pension plan under a collective bargaining agreement that covers certain of its union-represented employees. The risks of participating in such plans are different from the risks of single-employer plans. Assets contributed to a multi-employer plan by one employer may be used to provide benefits to employees of other participating employers. If a participating employer ceases to contribute to the plan, the unfunded obligations of the plan may be borne by the remaining participating employers. If the Company ceases to have an obligation to contribute to the multi-employer plan in which it had been a contributing employer, it may be required to pay to the plan an amount based on the underfunded status of the plan and on the history of the Company’s participation in the plan prior to the cessation of its obligation to contribute. The amount that an employer that has ceased to have an obligation to contribute to a multi-employer plan is required to pay to the plan is referred to as a withdrawal liability.

The Company’s participation in multi-employer plans for the year ended December 31, 2019 is outlined in the table below. For plans that are not individually significant to the Company, the total amount of contributions is presented in the aggregate.


			Pension Protection Act Zone Status (b)						FIP/			Contributions by the Company													Expiration Dates of
In thousands							RP Status Pending/														Surcharge Imposed		Collective Bargaining
Pension Fund	EIN/PN (a)			2019		2018		Implemented (c)			2019				2018				2017			(d)		Agreements
Idaho Operating Engineers-	EIN #	91-6075538	Green		Green		No		$	881		(1)	$	965		(1)	$	1,020		(1)	No		8/6/2021
Employers Pension Trust Fund	Plan#	001
							Total Contributions		$	881			$	965			$	1,020

(1)The Company’s contribution represents more than 5% of the total contributions to the plan.

(a) The “EIN / PN” column provides the Employer Identification Number and the three-digit plan number assigned to a plan by the Internal Revenue Service.

(b) The most recent Pension Protection Act Zone Status available for 2019 and 2018 is for plan years that ended in 2019 and 2018, respectively. The zone status is based on information provided to the Company and other participating employers by each plan and is certified by the plan’s actuary. A plan in the “red” zone has been determined to be in “critical status”, based on criteria established under the Internal Revenue Code (“Code”), and is generally less than 65% funded. A plan in the “yellow” zone has been determined to be in “endangered status”, based on criteria established under the Code, and is generally less than 80% funded. A plan in the “green” zone has been determined to be neither in “critical status” nor in “endangered status” and is generally at least 80% funded.

(c)The “FIP/RP Status Pending/Implemented” column indicates whether a Funding Improvement Plan, as required under the Code to be adopted by plans in the “yellow” zone, or a Rehabilitation Plan, as required under the Code to be adopted by plans in the “red” zone, is pending or has been implemented as of the end of the plan year that ended in 2019.

(d) The “Surcharge Imposed” column indicates whether the Company’s contribution rate for 2019 included an amount in addition the contribution rate specified in the applicable collective bargaining agreement, as imposed by a plan in “critical status”, in accordance with the requirements of the Code.

SELECTED QUARTERLY FINANCIAL DATA (UNAUDITED) (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended								12 Months Ended
	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Quarterly Financial Information Disclosure [Abstract]
Total net sales	$ 2,368.4	$ 2,001.7	$ 2,236.3	$ 1,593.6	$ 1,117.8	$ 1,077.8	$ 1,111.7	$ 1,056.2	$ 8,200.0	$ 4,363.5	$ 3,881.7
Gross profit	674.9	599.4	614.7	389.0	297.0	302.0	324.0	310.9	2,278.0	1,233.9	1,065.3
Income from operations	226.1	169.1	200.6	67.3	93.4	125.2	123.5	131.3	663.1	473.4	421.1
Net income attributable to Wabtec shareholders	$ 135.7	$ 91.1	$ 104.1	$ (4.2)	$ 34.4	$ 87.7	$ 84.4	$ 88.4	$ 326.7	$ 294.9	$ 262.3
Basic earnings from operations per common share (in dollars per share)	$ 0.71	$ 0.48	$ 0.58	$ (0.04)	$ 0.36	$ 0.91	$ 0.88	$ 0.92	$ 1.91	$ 3.06	$ 2.74
Diluted earnings from operations per common share (in dollars per share)	$ 0.71	$ 0.48	$ 0.54	$ (0.04)	$ 0.36	$ 0.91	$ 0.87	$ 0.92	$ 1.84	$ 3.05	$ 2.72

- Definition

The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period.

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- 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.

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+ Details

- Definition

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

+ References + Details

SEGMENT INFORMATION - Narrative (Details) $ in Millions	12 Months Ended
SEGMENT INFORMATION - Narrative (Details) $ in Millions	Dec. 31, 2019 USD ($) segment	Dec. 31, 2018 USD ($)	Dec. 31, 2017 USD ($)
Segment Reporting Information [Line Items]
Number of reportable segments \| segment	2
Export sales \| $	$ 905.2	$ 512.5	$ 448.0

LONG-TERM DEBT - Notes (Details) - USD ($)	Sep. 14, 2018	Dec. 31, 2019	Dec. 31, 2018
Debt Instrument [Line Items]
Total		$ 4,429,300,000	$ 3,856,900,000
Senior Notes
Debt Instrument [Line Items]
Par Value	$ 2,500,000,000
Discount at Issuance	2,900,000
Total	2,497,100,000
Issuance Cost	21,500,000
Net Proceeds	2,475,600,000
Senior Notes \| Floating Rate Notes Due 2021
Debt Instrument [Line Items]
Par Value	500,000,000.0
Discount at Issuance	0
Total	500,000,000.0	498,000,000.0	496,800,000
Issuance Cost	3,500,000
Net Proceeds	496,500,000
Senior Notes \| 4.150 Percent Senior Notes Due Twenty Thousand and Twenty Four
Debt Instrument [Line Items]
Par Value	750,000,000.0
Discount at Issuance	1,500,000
Total	748,500,000	744,300,000	743,000,000.0
Issuance Cost	7,400,000
Net Proceeds	741,100,000
Senior Notes \| 4.70 Percent Senior Notes Due Twenty Thousand and Twenty Six
Debt Instrument [Line Items]
Par Value	1,250,000,000.0
Discount at Issuance	1,400,000
Total	1,248,600,000	$ 1,240,800,000	$ 1,239,700,000
Issuance Cost	10,600,000
Net Proceeds	$ 1,238,000,000.0

EARNINGS PER SHARE - Computation of Earnings Per Share (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended								12 Months Ended
	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Numerator
Net income attributable to Wabtec shareholders	$ 135.7	$ 91.1	$ 104.1	$ (4.2)	$ 34.4	$ 87.7	$ 84.4	$ 88.4	$ 326.7	$ 294.9	$ 262.3
Less: dividends declared - common shares and non-vested restricted stock									(80.3)	(46.3)	(42.2)
Undistributed earnings									$ 246.4	$ 248.6	$ 220.1
Percentage allocated to common shareholders (as a percent)									99.70%	99.70%	99.70%
Undistributed earnings allocated to common shareholders									$ 245.7	$ 247.9	$ 219.4
Add: dividends declared - common shares									80.0	46.3	42.2
Dividends declared - preferred shares									(0.4)	0.0	0.0
Numerator for basic earnings per common share									325.3	294.2	261.6
Dividends declared - preferred shares									0.4	0.0	0.0
Numerator for diluted earnings per common share									$ 325.7	$ 294.2	$ 261.6
Denominator
Denominator for basic earnings per common share - weighted average shares (in shares)									170.5	96.0	95.5
Assumed conversion of preferred shares (in shares)									6.4	0.0	0.0
Assumed conversion of dilutive stock-based compensation plans (in shares)									0.4	0.5	0.6
Denominator for diluted earnings per common shares - adjusted weighted average shares and assumed conversion (in shares)									177.3	96.5	96.1
Net income per common share attributable to Wabtec shareholders
Net income attributable to Wabtec shareholders, basic (in dollars per share)	$ 0.71	$ 0.48	$ 0.58	$ (0.04)	$ 0.36	$ 0.91	$ 0.88	$ 0.92	$ 1.91	$ 3.06	$ 2.74
Net income attributable to Wabtec shareholders (in dollars per share)	$ 0.71	$ 0.48	$ 0.54	$ (0.04)	$ 0.36	$ 0.91	$ 0.87	$ 0.92	$ 1.84	$ 3.05	$ 2.72
Basic weighted average common shares outstanding and non rested restricted stock expected to vest (in shares)									171.0	96.3	95.7

DERIVATIVE FINANCIAL INSTRUMENTS AND HEDGING - Narrative (Details) - Foreign Exchange Forward - USD ($) $ in Millions	3 Months Ended	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2019
Not Designated as Hedging Instrument
Derivative [Line Items]
Derivative term (in years)		1 year
Net gain	$ 1.6
Cash Flow Hedging \| Designated as Hedging Instrument
Derivative [Line Items]
Derivative term (in years)		2 years

CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Dec. 31, 2019	Dec. 31, 2018
Statement of Financial Position [Abstract]
Preferred stock, par value (in dollars per share)	$ 0.01	$ 0.01
Preferred stock, shares authorized (in shares)	1,000,000	1,000,000
Preferred stock, shares issued (in shares)	0	0
Preferred stock, shares 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	200,000,000
Common stock, shares issued (in shares)	226,947,180	132,349,534
Common stock, shares outstanding (in shares)	191,699,193	96,614,946
Treasury stock, shares (in shares)	35,247,987	35,734,588

COMMITMENTS AND CONTINGENCIES (Details) $ in Millions	Aug. 15, 2019 USD ($)	Jan. 31, 2019 USD ($)	Sep. 08, 2017 USD ($)	Dec. 31, 2019 claim
Settled Litigation \| Siemens Industry, Inc.
Loss Contingencies [Line Items]
Damages award to plaintiff	$ 14.1
Pending Litigation
Loss Contingencies [Line Items]
Pending litigation cases \| claim				0
Threatened Litigation \| Denver Transit Installation of Constant Wireless Crossings \| Subsidiaries
Loss Contingencies [Line Items]
Alleged damages			$ 36.8
Positive Train Control Patents \| Settled Litigation \| Siemens Industry, Inc.
Loss Contingencies [Line Items]
Damages award to plaintiff		$ 5.6
End of Train Patents \| Settled Litigation \| Siemens Industry, Inc.
Loss Contingencies [Line Items]
Damages award to plaintiff		$ 1.1

CONSOLIDATED STATEMENTS OF CASH FLOWS (Parenthetical) - $ / shares	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Statement of Cash Flows [Abstract]
Cash dividends, per share (in dollars per share)	$ 0.48	$ 0.48	$ 0.44

INVENTORIES (Tables)

12 Months Ended

Dec. 31, 2019

Inventory Disclosure [Abstract]

Components of Inventory, Net of Reserves

The components of inventory, net of reserves, were:


	December 31,
In millions	2019		2018
Raw materials	$	786.4	$	465.9
Work-in-progress	374.0		154.5
Finished goods	612.7		224.5
Total inventories	$	1,773.1	$	844.9

WARRANTIES

12 Months Ended

Dec. 31, 2019

Product Warranties Disclosures [Abstract]

WARRANTIES

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


In millions	2019		2018
Balance at beginning of year	$	153.7	$	153.0
Acquisitions	127.8		3.1
Warranty expense	105.5		58.0
Warranty claim payments	(118.0)		(54.1)
Foreign currency impact	(1.3)		(6.3)
Balance at end of year	$	267.7	$	153.7

SELECTED QUARTERLY FINANCIAL DATA (UNAUDITED)

12 Months Ended

Dec. 31, 2019

Quarterly Financial Information Disclosure [Abstract]

SELECTED QUARTERLY FINANCIAL DATA (UNAUDITED)


	First		Second		Third		Fourth
In millions, except per share data	Quarter		Quarter		Quarter		Quarter
2019
Net sales	$	1,593.6	$	2,236.3	$	2,001.7	$	2,368.4
Gross profit	389.0		614.7		599.4		674.9
Income from operations	67.3		200.6		169.1		226.1
Net (loss) income attributable to Wabtec shareholders	(4.2)		104.1		91.1		135.7
Basic (loss) earnings from operations per common share	$	(0.04)	$	0.58	$	0.48	$	0.71
Diluted (loss) earnings from operations per common share	$	(0.04)	$	0.54	$	0.48	$	0.71
2018
Net sales	$	1,056.2	$	1,111.7	$	1,077.8	$	1,117.8
Gross profit	310.9		324.0		302.0		297.0
Income from operations	131.3		123.5		125.2		93.4
Net income attributable to Wabtec shareholders	88.4		84.4		87.7		34.4
Basic earnings from operations per common share	$	0.92	$	0.88	$	0.91	$	0.36
Diluted earnings from operations per common share	$	0.92	$	0.87	$	0.91	$	0.36

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

INTANGIBLES

12 Months Ended

Dec. 31, 2019

Goodwill and Intangible Assets Disclosure [Abstract]

INTANGIBLES

INTANGIBLESGoodwill and other intangible assets with indefinite lives are not amortized. Other intangibles with definite lives are amortized on a straight-line basis over their estimated economic lives. Goodwill and indefinite lived intangible assets are reviewed annually during the fourth quarter for impairment (See Note 2 “Summary of Significant Accounting Policies” included herein). Goodwill and indefinite lived intangible assets were not impaired at December 31, 2019 and 2018.

The change in the carrying amount of goodwill by segment for the year ended December 31, 2019 is as follows:


	Freight		Transit
In millions	Segment		Segment		Total
Balance at December 31, 2018	$	899.1	$	1,497.4	$	2,396.5
Additions	5,989.3		12.2		6,001.5
Foreign currency impact	(11.8)		(25.6)		(37.4)
Balance at December 31, 2019	$	6,876.6	$	1,484.0	$	8,360.6

As of December 31, 2019 and 2018, the Company’s trade names had a net carrying amount of $623.1 million and $582.8 million, respectively, and the Company believes these intangibles have indefinite lives, with the exception of the GE Transportation 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:


	December 31,
In millions	2019		2018
Intellectual property, patents, and other intangibles, net of accumulated amortization of $123.8 and $40.1	$	1,108.9	$	13.3
Backlog, net of accumulated amortization of $92.0 and $2.0	1,342.1		2.0
Customer relationships, net of accumulated amortization of $212.9 and $158.5	1,029.9		531.8
Total	$	3,480.9	$	547.1

The remaining weighted average useful lives of backlog, intellectual property, customer relationships, and other intangibles were 14 years, 9 years, 18 years, and 13 years, respectively. Amortization expense for intangible assets was $238.4 million, $39.8 million, and $36.5 million for the years ended December 31, 2019, 2018, and 2017, respectively.

Estimated amortization expense for the five succeeding years is as follows (in millions):


2020	$	278.7
2021	277.7
2022	277.3
2023	276.8
2024	267.3

PREFERRED STOCK	12 Months Ended
PREFERRED STOCK	Dec. 31, 2019
Disclosure Preferred Stock Additional Information [Abstract]
PREFERRED STOCK	PREFERRED STOCKThe Company’s authorized capital stock includes 1,000,000 shares of preferred stock. The Board of Directors has the authority to issue the preferred stock and to fix the designations, powers, preferences and rights of the shares of each such class or series, including dividend rates, conversion rights, voting rights, terms of redemption and liquidation preferences, without any further vote or action by the Company’s shareholders. The rights and preferences of the preferred stock would be superior to those of the common stock. At December 31, 2019 and 2018 there was no preferred stock issued or outstanding.

PROPERTY, PLANT & EQUIPMENT

12 Months Ended

Dec. 31, 2019

Property, Plant and Equipment [Abstract]

PROPERTY, PLANT & EQUIPMENT

The major classes of depreciable assets are as follows:


	December 31,
In millions	2019		2018
Machinery and equipment	$	1,363.8	$	749.8
Buildings and improvements	774.2		248.1
Land and improvements	78.0		38.7
Property, plant and equipment	2,216.0		1,036.6
Less: accumulated depreciation	(560.2)		(472.8)
Total	$	1,655.8	$	563.8

The estimated useful lives of property, plant and equipment are as follows:


			Years
Land improvements			10 to 20
Building and improvements			20 to 40
Machinery and equipment			3 to 15

Depreciation expense was $157.8 million, $66.4 million, and $66.7 million for 2019, 2018 and 2017, respectively.

EARNINGS PER SHARE

12 Months Ended

Dec. 31, 2019

Earnings Per Share [Abstract]

EARNINGS PER SHARE

The computation of earnings per share from operations is as follows:


	For the Year Ended December 31,
In millions, except per share data	2019			2018			2017
Numerator
Numerator for basic and diluted earnings per common share - net income attributable
to Wabtec shareholders	$	326.7		$	294.9		$	262.3
Less: dividends declared - common shares and non-vested restricted stock	(80.3)			(46.3)			(42.2)
Undistributed earnings	246.4			248.6			220.1
Percentage allocated to common shareholders (1)	99.7		%	99.7		%	99.7		%
	245.7			247.9			219.4
Add: dividends declared - common shares	80.0			46.3			42.2
Less: dividends declared - preferred shares	(0.4)			—			—
Numerator for basic earnings per common share	$	325.3		$	294.2		$	261.6
Add: dividends declared - preferred shares	0.4			—			—
Numerator for diluted earnings per common share	$	325.7		$	294.2		$	261.6
Denominator
Denominator for basic earnings per common share - weighted average shares	170.5			96.0			95.5
Effect of dilutive securities:
Assumed conversion of preferred shares	6.4			—			—
Assumed conversion of dilutive stock-based compensation plans	0.4			0.5			0.6
Denominator for diluted earnings per common share - adjusted weighted average
shares and assumed conversion	177.3			96.5			96.1
Net income per common share attributable to Wabtec shareholders
Basic	$	1.91		$	3.06		$	2.74
Diluted	$	1.84		$	3.05		$	2.72

(1) Basic weighted-average common shares outstanding	170.5			96.0			95.5
Basic weighted-average common shares outstanding and non-vested restricted
stock expected to vest	171.0			96.3			95.7
Percentage allocated to common shareholders	99.7		%	99.7		%	99.7		%

Options to purchase approximately 312,000, 135,000, and 24,000 shares of Common Stock were outstanding in 2019, 2018 and 2017, respectively, but were not included in the computation of diluted earnings because their impact would have been antidilutive.

CONSOLIDATED STATEMENTS OF INCOME - USD ($) shares in Millions, $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Net sales
Total net sales	$ 8,200.0	$ 4,363.5	$ 3,881.7
Cost of sales
Total cost of sales	(5,922.0)	(3,129.6)	(2,816.4)
Gross profit	2,278.0	1,233.9	1,065.3
Selling, general and administrative expenses	(1,166.6)	(633.2)	(512.5)
Engineering expenses	(209.9)	(87.5)	(95.2)
Amortization expense	(238.4)	(39.8)	(36.5)
Total operating expenses	(1,614.9)	(760.5)	(644.2)
Income from operations	663.1	473.4	421.1
Other income and expenses
Interest expense, net	(219.1)	(112.2)	(77.9)
Other income, net	2.8	6.4	8.9
Income from operations before income taxes	446.8	367.6	352.1
Income tax expense	(120.3)	(75.9)	(89.8)
Net income	326.5	291.7	262.3
Less: Net loss attributable to noncontrolling interest	0.2	3.2	0.0
Net income attributable to Wabtec shareholders	$ 326.7	$ 294.9	$ 262.3
Basic
Net income attributable to Wabtec shareholders (in dollars per share)	$ 1.91	$ 3.06	$ 2.74
Diluted
Net income attributable to Wabtec shareholders (in dollars per share)	$ 1.84	$ 3.05	$ 2.72
Weighted average shares outstanding
Basic (in shares)	170.5	96.0	95.5
Diluted (in shares)	177.3	96.5	96.1
Product
Net sales
Total net sales	$ 6,907.9	$ 4,178.0	$ 3,685.6
Cost of sales
Total cost of sales	(5,128.4)	(2,973.5)	(2,667.8)
Services
Net sales
Total net sales	1,292.1	185.5	196.1
Cost of sales
Total cost of sales	$ (793.6)	$ (156.1)	$ (148.6)

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Additional Information (Detail) $ in Millions	12 Months Ended
	Dec. 31, 2019 USD ($)	Dec. 31, 2018 USD ($)	Dec. 31, 2017 USD ($)
Summary Of Significant Accounting Policies [Line Items]
Allowance for doubtful accounts	$ 19.9	$ 16.9
Equity method investments	95.2	30.8
Warranty expense	105.5	58.0	$ 50.4
Accrued product warranty	267.7	153.7	153.0
Foreign currency gain (loss)	(13.5)	(5.7)	(6.6)
Noncurrent contract assets	109.4
Noncurrent contract liabilities	77.0
Provisions for loss contracts	118.5	71.2
Letters of Credit Under Credit Agreement	714.0	354.2
Deferred pre-production costs	88.0	16.4
Research and development costs	$ 209.9	$ 87.5	$ 95.2
Valuation Technique, Discounted Cash Flow
Summary Of Significant Accounting Policies [Line Items]
Goodwill impairment test, weight of approach	0.75
Valuation, Market Approach
Summary Of Significant Accounting Policies [Line Items]
Goodwill impairment test, weight of approach	0.25

PREFERRED STOCK (Details) - shares	Dec. 31, 2019	Dec. 31, 2018
Disclosure Preferred Stock Additional Information [Abstract]
Preferred stock, shares authorized (in shares)	1,000,000	1,000,000
Preferred stock, shares issued (in shares)	0	0
Preferred stock, shares outstanding (in shares)	0	0

LONG-TERM DEBT - Annual Repayment Requirements for Debt Obligations (Details) - USD ($) $ in Millions	Dec. 31, 2019	Dec. 31, 2018
Debt Disclosure [Abstract]
2020	$ 95.7
2021	809.8
2022	300.0
2023	479.0
2024	755.5
Thereafter	1,989.3
Total	$ 4,429.3	$ 3,856.9

INTANGIBLES - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
INTANGIBLES - Narrative (Details) - USD ($) $ in Millions	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Intangible Assets Disclosure [Line Items]
Trade names	$ 623.1	$ 582.8
Intangible assets, amortization expense	$ 238.4	$ 39.8	$ 36.5
Trade names
Intangible Assets Disclosure [Line Items]
Intangible assets, weighted average useful life (years)	5 years
Backlog
Intangible Assets Disclosure [Line Items]
Intangible assets, weighted average useful life (years)	14 years
Intellectual property
Intangible Assets Disclosure [Line Items]
Intangible assets, weighted average useful life (years)	9 years
Customer relationships
Intangible Assets Disclosure [Line Items]
Intangible assets, weighted average useful life (years)	18 years
Other intangible assets
Intangible Assets Disclosure [Line Items]
Intangible assets, weighted average useful life (years)	13 years

LONG-TERM DEBT

12 Months Ended

Dec. 31, 2019

Debt Disclosure [Abstract]

LONG-TERM DEBT

Long-term debt consisted of the following:


			December 31,
	Effective		2019						2018
In millions	Interest Rate		Book Value		Fair Value ¹		Book Value		Fair Value ¹
Senior Credit Facility:
U.S. dollar-denominated Term Loans, net of unamortized debt issuance costs of $1.1 and $1.2	3.1	%	$	684.7	$	684.7	$	338.1	$	338.1
Multi-Currency Revolving loan facility net of unamortized debt issuance costs of $0.9 and $1.9	3.4	%	231.5		231.5		—		—
Floating Senior Notes, due 2021, net of unamortized debt issuance costs of $2.0 and $3.2	3.9	%	498.0		500.0		496.8		497.4
4.375% Senior Notes, due 2023, net of unamortized discount and debt issuance costs of $0.9 and $1.2	4.5	%	249.1		263.9		248.8		254.2
4.15% Senior Notes, due 2024, net of unamortized debt issuance costs of $5.7 and $7.0	4.6	%	744.3		805.5		743.0		727.4
4.70% Senior Notes, due 2028, net of unamortized debt issuance costs of $9.2 and $10.3	5.0	%	1,240.8		1,378.3		1,239.7		1,179.6
3.45% Senior Notes, due 2026, net of unamortized debt issuance costs of $1.5 and $1.7	3.5	%	748.5		759.1		748.3		675.1
Other Borrowings			32.4		32.4		42.2		42.2
Total			4,429.3		4,655.4		3,856.9		3,714.0
Less - current portion			95.7		95.7		64.1		64.1
Long-term portion			$	4,333.6	$	4,559.7	$	3,792.8	$	3,649.9

¹ See Note 19 for information on the fair value measurement of the Company's long-term debt.


As of December 31, 2019, the annual repayment requirements for debt obligations are as follows:
In millions
2020	$	95.7
2021	809.8
2022	300.0
2023	479.0
2024	755.5
Thereafter	1,989.3
Total	$	4,429.3

For those debt securities that have a premium or discount at the time of issuance, the Company amortizes the amount through interest expense based on the maturity date or the first date the holders may require the Company to repurchase the debt securities, if applicable. A premium would result in a decrease in interest expense, and a discount would result in an increase in interest expense in future periods. Additionally, the Company has debt issuance costs related to certain financing transactions which are also amortized through interest expense. As of December 31, 2019 and 2018, the Company had total unamortized debt issuance costs of $21.3 million and $26.5 million, respectively.

Debt Transactions

See Note 3 for further information regarding the Company’s acquisition of GE Transportation.

Senior Notes

On September 14, 2018 in order to fund the GE Acquisition and related fees and expenses, we issued a total of $2.5 billion in aggregate principal amount of unsecured senior notes (in two separate series of fixed rate unsecured senior notes “Senior Notes” and one series of floating rate unsecured senior notes “Floating Senior Notes”). We collectively refer to the Floating Senior Notes and the Senior Notes as the “Notes.” Upon issuance, the Senior Notes and Floating Senior Notes were reflected on our Consolidated Balance Sheets net of discount of $2.9 million and net of the capitalized debt issuance costs, including commissions and offering expenses of $18.0 million, both of which will be amortized in interest expense through the respective maturity dates of each series of unsecured senior notes using the effective interest method.

The Floating Senior Notes bear interest at a floating rate equal to the three-month LIBOR rate plus 1.050% per year; the Senior Notes due 2024 bear interest at 4.150% per year; and the Senior Notes due 2028 bear interest at 4.700% per year. The interest rate payable on the Notes will be subject to adjustment based on certain rating events. Interest on the Senior Notes is payable semi-annually in arrears on March 15th and September 15th of each year, commencing on March 15, 2019. Interest on

the Floating Senior Notes is payable quarterly in arrears on December 15, March 15, June 15, and September 15 of each year, which commenced on December 15, 2018.

The issuance was comprised of the following three series of notes:


Senior Notes (in millions)	Par Value		Discount at Issuance		Net Price at Issuance		Issuance Cost		Net Proceeds
Floating Senior Notes due 2021	$	500.0	$	—	$	500.0	$	3.5	$	496.5
4.15% Senior Notes due 2024	750.0		1.5		748.5		7.4		741.1
4.70% Senior Notes due 2028	1,250.0		1.4		1,248.6		10.6		1,238.0
Total	$	2,500.0	$	2.9	$	2,497.1	$	21.5	$	2,475.6

Consistent with the Company's existing senior notes, the newly issued 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 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. But the covenants do not require the Company to maintain any financial ratios or specified levels of net worth or liquidity. The Company may redeem each series of the Notes at any time in whole or from time to time in part in accordance with the provisions of the indenture, under which such series of Notes was issued.

Upon the occurrence of a change of control repurchase event with respect to the Notes, each holder of the Notes has the right to require the Company to purchase that holder’s Notes at a price equal to 101% of the principal amount thereof, plus accrued and unpaid interest, unless the Company has exercised its option to redeem all the Notes.

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 increased by 0.25%. The interest rate increase took effect from the next interest period following February 12, 2019.

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

Term Loan Agreement

On June 8, 2018, the Company arranged (i) a $350.0 million term loan with proceeds used to refinance existing loans (the “Refinancing Term Loan”), and (ii) a new $400.0 million delayed draw term loan in order to fund the GE Acquisition and related fees and expenses (the “Delayed Draw Term Loan”). The Company collectively refers to the Refinance Term Loans and the Delayed Draw Term Loans as the “Term Loans.”

Consistent with our other debt securities, the Term Loan Agreement includes covenants that, among other things, limit our liens and the liens of certain of our consolidated subsidiaries. In addition, it requires us to maintain the same financial maintenance covenants as discussed below.

Loans under the Term Loan bear interest at a variable rate based on, at the Company’s option, either the ABR rate or the LIBOR rate (each as defined in the Term Loan Agreement) plus an applicable margin that is determined based on our credit ratings or the Company’s ratio of total debt (less unrestricted cash up to $300.0 million) to EBITDA (“Leverage Ratio”). As of December 31, 2019, the applicable margin was 0.375% for base rate loans and 1.375% for Eurodollar rate loans.

Senior Credit Facility

On June 8, 2018, the Company entered into a credit agreement (the “Senior Credit Facility”), which replaced the Company’s then-existing “2016 Refinancing Credit Agreement.” The Senior Credit Facility is with a syndicate of lenders and provides for borrowings consisting of (i) term loans denominated in euros and U.S. dollars; and (ii) a multi-currency revolving loan facility, providing for an equivalent in U.S. dollars of up to $1,200.0 million in multi-currency revolving loans (inclusive of swingline loans of up to $75.0 million and letters of credit of up to $450.0 million).

The multi-currency revolving loan facility will mature on June 8, 2023, and the Term Loans will mature on June 8, 2021. Subject to any mandatory or optional prepayments, the Term Loans are required to be repaid on a quarterly basis in an amount equal to 2.5% of the principal amount drawn, with the final payment due at maturity.

The following table presents availability under our credit facilities:


(in millions)	Multi-currency revolving loan facility
Maximum Availability	$	1,200.0
Outstanding Borrowings	232.0
Letters of Credit Under Credit Agreement	30.0
Current Availability	$	938.0

Under the Senior Credit Facility, we can elect to receive advances bearing interest based on either the ABR rate or the LIBOR rate (each as defined in the Credit Agreement) plus an applicable margin that is determined based on our credit ratings or the Company’s Leverage Ratio. As of December 31, 2019, the applicable margin was 0.375% for base rate advances and 1.375% for LIBOR rate advances.

The Company also pays fees related to the Senior Credit Facility. The largest of these fees is a commitment fee on the unused portion of the multi-currency revolving loan facility of 0.10% to 0.30% per annum (currently 0.15% per annum), depending on our credit ratings or Leverage Ratio. None of the fees were material to interest expense.

The obligations under the Senior Credit Facility are guaranteed by Wabtec and each of Wabtec’s wholly owned subsidiaries (collectively, the “Subsidiary Guarantors”). In addition, the Senior Credit Facility contains a number of customary affirmative and negative covenants. In addition to other and customary covenants, the Senior Credit Facility require that we maintain the financial covenants listed below as of the end of each fiscal quarter for the period of four fiscal quarters then ended. The Company was in compliance with all of our covenants in the Credit Agreement and the Term Loans as of December 31, 2019.


Interest Coverage Ratio ¹						3.0x
Leverage Ratio ²						3.25x

1. The interest coverage ratio is defined as EBITDA, as defined in the Credit Agreement and Term Loan Agreement, to net interest expense for the four quarters then ended.

2. The leverage ratio is defined as net debt as of the last day of such fiscal quarter to EBITDA, as defined in the Amendment Credit Agreement and Term Loan Agreement, for the four quarters then ended.

The 2018 Senior Credit Facility contains an uncommitted accordion feature allowing the Company to request the establishment, in an aggregate amount not to exceed $600.0 million, of incremental borrowing commitments under the Revolving Credit Facility or of incremental term loan commitment.

At December 31, 2019, the weighted average interest rate on the Company’s variable rate debt was 3.08%.

Cash Pooling

Wabtec aggregates the Company's domestic cash position on a daily basis. Outside the United States, the Company uses cash pooling arrangements with banks to help manage our liquidity requirements. In these pooling arrangements, Wabtec subsidiary “Participants” agree with a single bank that the cash balances of any of the pool Participants with the bank will be subject to a full right of set-off against amounts other Participants owe the bank, and the bank provides for overdrafts as long as the net balance for all Participants does not exceed an agreed-upon level. Typically, each Participant pays interest on outstanding overdrafts and receives interest on cash balances. The Company's Consolidated Balance Sheets reflect cash, net of bank overdrafts, under all pooling arrangements.

ACQUISITIONS - Narrative (Detail) - USD ($) $ / shares in Units, $ in Millions					3 Months Ended	12 Months Ended
	Sep. 12, 2019	Aug. 09, 2019	Feb. 25, 2019	Mar. 22, 2018	Jun. 30, 2019	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017	May 06, 2019	Apr. 30, 2019	Feb. 22, 2019
Business Acquisition [Line Items]
Common stock, shares outstanding (in shares)						191,699,193	96,614,946
Preferred stock, shares outstanding (in shares)						0	0
Acquisition payments						$ 10,115.7	$ 58.9	$ 1,006.2
Common stock, shares issued (in shares)						226,947,180	132,349,534
Preferred stock, shares issued (in shares)						0	0
Purchase price						$ 2,996.4	$ 51.2	$ 945.3
Goodwill						8,360.6	2,396.5
Common Stock
Business Acquisition [Line Items]
Preferred stock, shares outstanding (in shares)									3,515,500
General Electric Company
Business Acquisition [Line Items]
Acquisition payments							$ 2,885.0
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
Annax GmbH
Business Acquisition [Line Items]
Acquisition payments					$ 10.1
Purchase price				$ 45.2
Goodwill				38.5
Goodwill expected to be deductible for taxes				0.0
Acquired intangible assets				11.7
Annax GmbH \| Trade names
Business Acquisition [Line Items]
Acquired intangible assets				3.8
Annax GmbH \| Customer relationships
Business Acquisition [Line Items]
Acquired intangible assets				$ 7.5
Useful life of customer relationships (in years)				20 years
GE Transportation
Business Acquisition [Line Items]
Consideration transferred			$ 2,875.0
Acquisition payments			470.0
Business combination, consideration transferred			$ 10,300.0
Purchase price per share (in euros per share)											$ 73.36
Change in estimated fair values for assets acquired						63.0
Revenues						3,800.0
Operating income						358.0
GE Transportation \| General Electric Company
Business Acquisition [Line Items]
Percentage of outstanding shares transferred			9.90%
GE Transportation \| GE and Pre-Merger Holders
Business Acquisition [Line Items]
Percentage of outstanding shares transferred			49.20%
GE Transportation \| SpinCo Class B Preferred Stock
Business Acquisition [Line Items]
Acquisition payments			$ 10.0
GE Transportation \| Convertible Preferred Stock
Business Acquisition [Line Items]
Shares issuable (in shares)			10,000
GE Transportation \| Convertible Preferred Stock \| General Electric Company
Business Acquisition [Line Items]
Percentage of outstanding shares transferred			15.00%
GE Transportation \| General Electric Company \| SpinCo Common Stock
Business Acquisition [Line Items]
Common stock, shares outstanding (in shares)			8,700,000,000
GE Transportation \| General Electric Company \| SpinCo Class A Preferred Stock
Business Acquisition [Line Items]
Preferred stock, shares outstanding (in shares)			15,000
GE Transportation \| General Electric Company \| SpinCo Class B Preferred Stock
Business Acquisition [Line Items]
Preferred stock, shares outstanding (in shares)			10,000
GE Transportation \| General Electric Company \| SpinCo Class C Preferred Stock
Business Acquisition [Line Items]
Preferred stock, shares outstanding (in shares)			1
GE Transportation \| General Electric Company \| Series A Preferred Stock
Business Acquisition [Line Items]
Preferred stock, shares outstanding (in shares)									8,780
GE Transportation \| General Electric Company \| Common Stock
Business Acquisition [Line Items]
Preferred stock, shares outstanding (in shares)									25,300,000
Number of shares issued in transaction (in shares)	2,048,515	16,969,656
GE Transportation \| Pre-merger Wabtec Stockholders
Business Acquisition [Line Items]
Percentage of outstanding shares transferred			50.80%
GE Transportation \| Wabtec \| SpinCo Class B Preferred Stock
Business Acquisition [Line Items]
Preferred stock, shares outstanding (in shares)			10,000
GET Brazil
Business Acquisition [Line Items]
Noncontrolling interest acquired										$ 56.2
General Electric Company
Business Acquisition [Line Items]
Noncontrolling interest acquired			$ 86.8
Change in estimated fair values for assets acquired						(92.1)
Change in estimated fair value for liabilities acquired						$ 129.1
Other noncurrent liabilities			652.9
Goodwill			5,987.5
General Electric Company \| Customer Contracts [Member]
Business Acquisition [Line Items]
Other noncurrent liabilities			$ 504.7

FAIR VALUE MEASUREMENT AND FAIR VALUE OF FINANCIAL INSTRUMENTS

12 Months Ended

Dec. 31, 2019

Fair Value Disclosures [Abstract]

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.


		Fair Value Measurements at December 31, 2019 Using
	Total Carrying Value at December 31,	Quoted Prices in Active Markets for Identical Assets	Significant Other Observable Inputs	Significant Unobservable Inputs
In millions	2019	(Level 1)	(Level 2)	(Level 3)
Foreign Exchange Contracts
Other Current Assets	12.6	—	12.6	—
Other Current Liabilities	9.8	—	9.8	—
Cross-Currency Swap Agreement
Other Current Liabilities	9.4	—	9.4	—

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

The Company’s cash and cash equivalents are highly liquid investments purchased with an original maturity of three months or less and are considered Level 1 on the fair value valuation hierarchy. The fair value of cash and cash equivalents

approximated the carrying value at December 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. 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 represents 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.

CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY (Parenthetical) - $ / shares	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Statement of Stockholders' Equity [Abstract]
Cash dividends, per share (in dollars per share)	$ 0.48	$ 0.48	$ 0.44

OTHER COMPREHENSIVE LOSS - Changes in Accumulated Other Comprehensive Loss by Component, Net of Tax (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance beginning of period	$ 2,869.1	$ 2,828.6
Other comprehensive income before reclassifications	(128.1)	(217.4)
Amounts reclassified from accumulated other comprehensive income	2.1	5.8
Net current period other comprehensive income	(126.0)	(211.6)
Balance end of period	9,993.6	2,869.1
Foreign currency translation
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance beginning of period	(202.2)	5.1
Other comprehensive income before reclassifications	(106.4)	(207.3)
Amounts reclassified from accumulated other comprehensive income	0.0	0.0
Net current period other comprehensive income	(106.4)	(207.3)
Balance end of period	(308.6)	(202.2)
Derivative contracts
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance beginning of period	(0.1)	4.0
Other comprehensive income before reclassifications	(3.2)	(7.8)
Amounts reclassified from accumulated other comprehensive income	0.0	3.7
Net current period other comprehensive income	(3.2)	(4.1)
Balance end of period	(3.3)	(0.1)
Pension and Post Retirement Benefit Plans
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance beginning of period	(54.3)	(54.1)
Other comprehensive income before reclassifications	(18.5)	(2.3)
Amounts reclassified from accumulated other comprehensive income	2.1	2.1
Net current period other comprehensive income	(16.4)	(0.2)
Balance end of period	(70.7)	(54.3)
Accumulated Other Comprehensive Income (Loss)
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance beginning of period	(256.6)	(45.0)
Balance end of period	$ (382.6)	$ (256.6)

OTHER COMPREHENSIVE LOSS

12 Months Ended

Dec. 31, 2019

Equity [Abstract]

OTHER COMPREHENSIVE LOSS

The components of accumulated other comprehensive loss were:


	December 31,
In millions	2019		2018
Foreign currency translation gain (loss)	$	(308.6)	$	(202.2)
Unrealized gain (loss) on interest rate swap contracts, net of tax of $0 and $0	(3.3)		(0.1)
Unrealized loss on pension and post-retirement benefit plans, net of tax of $24.7 and $23.0	(70.7)		(54.3)
Total accumulated other comprehensive loss	$	(382.6)	$	(256.6)

The changes in accumulated other comprehensive loss by component, net of tax, for the year-ended December 31, 2019 are as follows:


	Foreign currency		Derivative		Pension and post retirement
In millions	translation		contracts		benefits plans		Total
Balance at December 31, 2018	$	(202.2)	$	(0.1)	$	(54.3)	$	(256.6)
Other comprehensive income before reclassifications	(106.4)		(3.2)		(18.5)		(128.1)
Amounts reclassified from accumulated other comprehensive income	—		—		2.1		2.1
Net current period other comprehensive income	(106.4)		(3.2)		(16.4)		(126.0)
Balance at December 31, 2019	$	(308.6)	$	(3.3)	$	(70.7)	$	(382.6)

Reclassifications out of accumulated other comprehensive loss for the year-ended December 31, 2019 are as follows:

Amount reclassified from
accumulated other

Affected line item in the
Condensed Consolidated

In millions

comprehensive income

Statements of Income

Amortization of defined pension and post retirement items

Amortization of initial net obligation and prior service cost

(1.5)

Other income, net

Amortization of net loss (gain)

4.4

Other income, net

2.9

Other income, net

(0.8)

Income tax expense

2.1

Net income

The changes in accumulated other comprehensive loss by component, net of tax, for the year-ended December 31, 2018 are as follows:


	Foreign currency		Derivative		Pension and post retirement
	translation		contracts		benefits plans		Total
Balance at December 31, 2017	$	5.1	$	4.0	$	(54.1)	$	(45.0)
Other comprehensive income before reclassifications	(207.3)		(7.8)		(2.3)		(217.4)
Amounts reclassified from accumulated other comprehensive income	—		3.7		2.1		5.8
Net current period other comprehensive income	(207.3)		(4.1)		(0.2)		(211.6)
Balance at December 31, 2018	$	(202.2)	$	(0.1)	$	(54.3)	$	(256.6)

Reclassifications out of accumulated other comprehensive loss for the year-ended December 31, 2018 are as follows:

Amount reclassified from
accumulated other

Affected line item in the
Condensed Consolidated

comprehensive income

Statements of Income

Amortization of defined pension and post retirement items

Amortization of initial net obligation and prior service cost

(1.5)

Other income, net

Amortization of net loss (gain)

4.3

Other income, net

2.8

Other income, net

(0.7)

Income tax expense

2.1

Net income

Derivative contracts

Realized loss on derivative contracts

4.9

Interest expense, net

(1.2)

Income tax expense

3.7

Net income

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Performance Obligation (Details) - Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2020-01-01 $ in Billions	Dec. 31, 2019 USD ($)
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation	$ 21.3
Revenue expected to be recognized over next 12 months	25.00%
Performance obligation, term	12 months

EMPLOYEE BENEFIT PLANS - Contributions in Multiemployer Pension Plans (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Defined Contribution Plan Disclosure [Line Items]
EIN	25-1615902
Contributions by the Company	$ 881	$ 965	$ 1,020
Contribution to the plan (as a percent)	5.00%
Idaho Operating Engineers Employers Pension Trust Fund
Defined Contribution Plan Disclosure [Line Items]
EIN	91-6075538
Plan Number	001
Pension Protection Act Zone Status	Green	Green
FIP / RP Status Pending / Implemented	No
Contributions by the Company	$ 881	$ 965	$ 1,020
Surcharge Imposed	No
Expiration Dates of Collective Bargaining Agreements	Aug. 06, 2021

EARNINGS PER SHARE (Tables)

12 Months Ended

Dec. 31, 2019

Earnings Per Share [Abstract]

Computation of Earnings Per Share

The computation of earnings per share from operations is as follows:


	For the Year Ended December 31,
In millions, except per share data	2019			2018			2017
Numerator
Numerator for basic and diluted earnings per common share - net income attributable
to Wabtec shareholders	$	326.7		$	294.9		$	262.3
Less: dividends declared - common shares and non-vested restricted stock	(80.3)			(46.3)			(42.2)
Undistributed earnings	246.4			248.6			220.1
Percentage allocated to common shareholders (1)	99.7		%	99.7		%	99.7		%
	245.7			247.9			219.4
Add: dividends declared - common shares	80.0			46.3			42.2
Less: dividends declared - preferred shares	(0.4)			—			—
Numerator for basic earnings per common share	$	325.3		$	294.2		$	261.6
Add: dividends declared - preferred shares	0.4			—			—
Numerator for diluted earnings per common share	$	325.7		$	294.2		$	261.6
Denominator
Denominator for basic earnings per common share - weighted average shares	170.5			96.0			95.5
Effect of dilutive securities:
Assumed conversion of preferred shares	6.4			—			—
Assumed conversion of dilutive stock-based compensation plans	0.4			0.5			0.6
Denominator for diluted earnings per common share - adjusted weighted average
shares and assumed conversion	177.3			96.5			96.1
Net income per common share attributable to Wabtec shareholders
Basic	$	1.91		$	3.06		$	2.74
Diluted	$	1.84		$	3.05		$	2.72

(1) Basic weighted-average common shares outstanding	170.5			96.0			95.5
Basic weighted-average common shares outstanding and non-vested restricted
stock expected to vest	171.0			96.3			95.7
Percentage allocated to common shareholders	99.7		%	99.7		%	99.7		%

OTHER INCOME, NET (Details) - USD ($) $ in Millions	12 Months Ended
OTHER INCOME, NET (Details) - USD ($) $ in Millions	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Other Income and Expenses [Abstract]
Foreign currency loss	$ (13.5)	$ (5.7)	$ (6.6)
Equity income	8.1	1.9	2.6
Expected return on pension assets/amortization	9.9	9.0	9.8
Other miscellaneous (expense) income	(1.7)	1.2	3.1
Total other income, net	$ 2.8	$ 6.4	$ 8.9

COMMITMENTS AND CONTINGENCIES	12 Months Ended
COMMITMENTS AND CONTINGENCIES	Dec. 31, 2019
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	COMMITMENTS AND CONTINGENCIES The Company is subject to a variety of environmental laws and regulations governing discharges to air and water, the handling, storage and disposal of hazardous or solid waste materials and the remediation of contamination associated with releases of hazardous substances. The Company believes its operations currently comply in all material respects with all of the various environmental laws and regulations applicable to our business; however, there can be no assurance that environmental requirements will not change in the future or that we will not incur significant costs to comply with such requirements. Under terms of the purchase agreement and related documents for the 1990 acquisition, Ingersoll Rand, the successor-in-interest to American Standard, Inc. (“Ingersoll”), has indemnified the Company for certain items including, among other things, certain environmental claims the Company asserted prior to 2000. If Ingersoll was unable to honor or meet these indemnifications, the Company would be responsible for such items. In the opinion of Management, Ingersoll currently has the ability to meet its indemnification obligations. 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. Most of these claims have been made against our wholly owned subsidiary, Railroad Friction Products Corporation (“RFPC”), and the vast majority of the claims, including all of the RFPC claims, are submitted to insurance carriers for defense and indemnity, or to non-affiliated companies that retain the liabilities for the asbestos-containing products at issue. We cannot, however, assure that all of these claims will be fully covered by insurance, or that the indemnitors or insurers will remain financially viable. Our ultimate legal and financial liability with respect to these claims, as is the case with other pending litigation, cannot be estimated. A limited number of claims are not covered by insurance, nor are they subject to indemnity from non-affiliated parties. Wabtec has incurred defense, administrative and indemnity costs in connection with these actions, but these costs have not been material, and the Company has no information that would suggest these costs would become material in the foreseeable future. Based on the Company’s history in resolving all asbestos claims over the last twenty years, Management believes that the costs of the Company’s asbestos-related cases will not be material to the Company’s overall financial position, results of operations and cash flows. On April 21, 2016, Siemens Industry, Inc. filed a lawsuit against the Company in federal district court in Delaware alleging that the Company 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 claimed were infringed by the Company's PTC Products or End of Train (EOT) Products (Siemens Patent Case). The Company 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) 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. On August 15, 2019, the Court entered a final judgement in the amount of $14.1 million in favor of Siemens, which included post-discovery damages on all Wabtec PTC and EOT sales through July 2019. Both parties appealed the Final Judgement. On September 27, 2019, the parties entered into a global settlement agreement, settling all on-going litigation between them, as part of the patent litigation including antitrust claims Siemens had made against Wabtec initially. 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 has successfully completed a remediation 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 and 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 in May 2020. 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. On April 3, 2018, the Company and Knorr-Bremse AG entered into a consent decree with the United States Department of Justice resolving allegations that the Company and Knorr-Bremse AG had maintained unlawful agreements not to compete for each other’s employees. The allegations also related to Faiveley Transport before it was acquired by the Company in November 2016. No monetary fines or penalties were imposed on the Company. The Company elected to settle this matter with the Department of Justice to avoid the cost and distraction of litigation. Putative class action lawsuits thereafter were filed in several different federal district courts naming the Company and Knorr as defendants in connection with the allegations contained in the consent decree. The lawsuits seek unspecified damages on behalf of employees of the Company (including Faiveley Transport) and Knorr allegedly caused by the defendants’ actions. A federal Multi-District Litigation (MDL) Panel consolidated the cases in the Western District of Pennsylvania, and on October 12, 2018, a consolidated class action complaint was filed in the Western District of PA with five named plaintiffs. On August 13, 2019, the Company was notified that co-defendant Knorr-Bremse settled with plaintiffs. On January 21, 2020, following Court-sponsored early mediation, the Company entered into a Memorandum of Understanding with plaintiffs, agreeing to settle all claims in the case. The parties intend to seek Court approval of the agreed settlement terms and amount. From time to time the Company is involved in litigation relating to claims arising out of its operations in the ordinary course of business. As of the date hereof, the Company is involved in no litigation that the Company believes will have a material adverse effect on its financial condition, results of operations or liquidity.

STOCK-BASED COMPENSATION PLANS - Restricted Stock Activity and Incentive Stock Awards Activity (Details) - $ / shares	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
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)	$ 75.51	$ 78.76	$ 72.18
Granted (in dollars per share)	70.61	73.76	86.66
Vested (in dollars per share)	71.65	81.55	70.34
Adjustment for incentive stock awards expected to vest (in dollars per share)	78.04	74.62	73.69
Canceled (in dollars per share)	74.04	78.60	76.61
Outstanding, end of period (in dollars per share)	$ 73.64	$ 75.51	$ 78.76
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	399,000	396,295
Granted (in shares)	608,813	224,060	153,516
Vested (in shares)	(235,406)	(148,644)	(137,088)
Adjustment for incentive stock awards expected to vest (in shares)	0	0	0
Canceled (in shares)	(27,465)	(29,327)	(13,723)
Outstanding, end of period (in shares)	791,031	445,089	399,000
Incentive Stock Awards
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)	415,242	327,333	424,750
Granted (in shares)	259,950	175,100	157,025
Vested (in shares)	(119,835)	(93,312)	(153,271)
Adjustment for incentive stock awards expected to vest (in shares)	80,403	32,996	(87,592)
Canceled (in shares)	(63,758)	(26,875)	(13,579)
Outstanding, end of period (in shares)	572,002	415,242	327,333

BUSINESS (Detail)	12 Months Ended
BUSINESS (Detail)	Dec. 31, 2019 country
Product Information [Line Items]
Number of countries company operates (more than)	50
Number of countries where product found (more than)	100
Revenue from Contract with Customer Benchmark \| Geographic Concentration Risk \| Non-US
Product Information [Line Items]
Revenues from customers outside the U.S. (as a percent)	60.00%

DERIVATIVE FINANCIAL INSTRUMENTS AND HEDGING

12 Months Ended

Dec. 31, 2019

Derivative Instruments and Hedging Activities Disclosure [Abstract]

DERIVATIVE FINANCIAL INSTRUMENTS AND HEDGING

Hedging Activities In the normal course of business, we are exposed to interest rate, commodity price and foreign currency exchange rate fluctuations. At times, we limit these risks through the use of derivatives such as cross-currency swaps, foreign currency forward contracts, interest rate swaps, commodity forwards and futures. In accordance with our policy, derivatives are only used for hedging purposes. We do not use derivatives for trading or speculative purposes.

Foreign Currency Exchange Risk

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 gains 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 years ended December 31, 2019, 2018 and 2017, the amounts reclassified into income were not material.

The Company has established revenue hedging, balance sheet risk management and net investment hedging programs to protect against volatility of future foreign currency cash flows and changes in fair value caused by volatility in foreign exchange rates. We conduct our business worldwide in U.S. dollars and the functional currencies of our foreign subsidiaries, including Euro, Indian rupee, British pound sterling, Australian dollars and several other foreign currencies. Changes in foreign currency exchange rates could have a material adverse impact on our financial results that are reported in U.S. dollars. We are also exposed to foreign currency exchange rate risk related to our foreign subsidiaries, including intercompany loans denominated in non-functional currencies and net purchases and sales in non-functional currencies. We have certain foreign currency exchange rate risk programs that use foreign currency forward contracts and cross-currency swaps. These forward contracts and cross-currency swaps are generally used to offset the potential income statement effects from intercompany loans denominated in non-functional currencies. In addition, 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. These programs reduce but do not entirely eliminate foreign currency exchange rate risk.

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 gains 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 twelve months ended December 31, 2019 the amounts reclassified into income were not material.

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 gain related to these contracts was $1.6 million for the three months ended December 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 December 31, 2019:


	Fair Value						Gross Notional Amount
In millions	Designated		Non-Designated		Designated		Non-Designated
Foreign Exchange Contracts
Other current assets	$	11.2	$	1.4	$	2,429.0	$	412.9
Other current liabilities	(9.8)		—		1,184.6		—
Cross-currency Swaps
Other current assets	—		—		—		—
Other current liabilities	(9.4)		—		560.8		—
Total	$	(8.0)	$	1.4	$	4,174.4	$	412.9

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


	Fair Value						Gross Notional Amount
In millions	Designated		Non-Designated		Designated		Non-Designated
Foreign Exchange Contracts
Other current assets	$	—	$	1.3	$	—	$	834.0
Other current liabilities	(2.3)		—		863.0		—
Cross-currency Swaps
Other current assets	—		—		—		—
Other current liabilities	—		—		—		—
Total	$	(2.3)	$	1.3	$	863.0	$	834.0

Interest Rate Risk

The Company may use interest rate swap contracts on certain investing and borrowing transactions to manage its net exposure to interest rate changes and to reduce its overall cost of borrowing. The Company does not use leveraged swaps and, in general, does not leverage any of its investment activities that would put principal capital at risk. For the twelve months ended December 31, 2019 the amounts reclassified into income were not material.

Commodity Price Risk

The Company may use commodity forward contracts and futures to manage its exposure to commodity price changes and to reduce its overall cost of manufacturing. For the twelve months ended December 31, 2019 the amounts reclassified into income were not material.

INCOME TAXES - Reconciliation of Income Tax Rate (Details)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Income Tax Disclosure [Abstract]
U.S. federal statutory rate	21.00%	21.00%	35.00%
State taxes	0.70%	1.60%	0.40%
Foreign	3.20%	0.70%	(8.30%)
Research and development credit	(1.70%)	(1.10%)	(0.80%)
Manufacturing deduction	0.00%	0.00%	(1.10%)
France tax rate change	0.00%	0.00%	(6.50%)
U.S. tax rate change	0.00%	(0.60%)	(7.90%)
U.S. tax reform (benefit) provision	2.00%	(1.40%)	15.60%
Transaction costs related to acquisitions	1.00%	0.00%	0.00%
Other, net	0.70%	0.40%	(0.90%)
Effective rate	26.90%	20.60%	25.50%

GUARANTOR SUBSIDIARIES FINANCIAL INFORMATION - Cash Flow (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Condensed Financial Statements, Captions [Line Items]
Net cash (used in) provided by operating activities	$ 1,015.5	$ 314.7	$ 188.8
Net cash provided by (used for) investing activities	(3,177.8)	(147.3)	(1,033.5)
Net cash (used in) provided by financing activities	461.5	1,978.1	(97.4)
Effect of changes in currency exchange rates	(37.3)	(36.6)	32.3
(Decrease) increase in cash	(1,738.1)	2,108.9	(909.8)
Cash, cash equivalents and restricted cash, beginning of year	2,342.3	233.4	1,143.2
Cash, cash equivalents and restricted cash, end of year	604.2	2,342.3	233.4
Elimination
Condensed Financial Statements, Captions [Line Items]
Net cash (used in) provided by operating activities	(336.3)	(100.5)	(30.6)
Net cash provided by (used for) investing activities	0.0	0.0	0.0
Net cash (used in) provided by financing activities	336.3	100.5	30.6
Effect of changes in currency exchange rates	0.0	0.0	0.0
(Decrease) increase in cash	0.0	0.0	0.0
Cash, cash equivalents and restricted cash, beginning of year	0.0	0.0	0.0
Cash, cash equivalents and restricted cash, end of year	0.0	0.0	0.0
Parent \| Reportable Legal Entities
Condensed Financial Statements, Captions [Line Items]
Net cash (used in) provided by operating activities	(321.2)	(87.2)	(49.2)
Net cash provided by (used for) investing activities	6,849.3	(16.8)	(11.2)
Net cash (used in) provided by financing activities	(8,286.7)	1,885.7	58.8
Effect of changes in currency exchange rates	0.0	0.0	0.0
(Decrease) increase in cash	(1,758.6)	1,781.7	(1.6)
Cash, cash equivalents and restricted cash, beginning of year	1,782.6	0.9	2.5
Cash, cash equivalents and restricted cash, end of year	24.0	1,782.6	0.9
Guarantors \| Reportable Legal Entities
Condensed Financial Statements, Captions [Line Items]
Net cash (used in) provided by operating activities	419.4	130.1	130.3
Net cash provided by (used for) investing activities	(1,140.5)	(2.0)	(3.4)
Net cash (used in) provided by financing activities	735.9	(128.8)	(127.5)
Effect of changes in currency exchange rates	0.0	0.0	0.0
(Decrease) increase in cash	14.8	(0.7)	(0.6)
Cash, cash equivalents and restricted cash, beginning of year	(0.1)	0.6	1.2
Cash, cash equivalents and restricted cash, end of year	14.7	(0.1)	0.6
Non-Guarantors \| Reportable Legal Entities
Condensed Financial Statements, Captions [Line Items]
Net cash (used in) provided by operating activities	1,253.6	372.3	138.3
Net cash provided by (used for) investing activities	(8,886.6)	(128.5)	(1,018.9)
Net cash (used in) provided by financing activities	7,676.0	120.7	(59.3)
Effect of changes in currency exchange rates	(37.3)	(36.6)	32.3
(Decrease) increase in cash	5.7	327.9	(907.6)
Cash, cash equivalents and restricted cash, beginning of year	559.8	231.9	1,139.5
Cash, cash equivalents and restricted cash, end of year	$ 565.5	$ 559.8	$ 231.9

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Operating Activities
Net income	$ 326.5	$ 291.7	$ 262.3
Adjustments to reconcile net income to cash provided by operations:
Depreciation and amortization	401.4	109.3	103.2
Stock-based compensation expense	50.0	25.3	21.3
Below market intangible amortization	(82.2)	0.0	0.0
Deferred income taxes	(27.3)	(5.3)	(67.4)
Loss on disposal of property, plant and equipment	15.9	0.9	1.9
Changes in operating assets and liabilities, net of acquisitions
Accounts receivable and unbilled accounts receivable	(6.3)	(54.6)	(68.7)
Inventories	255.9	(108.9)	(9.0)
Accounts payable	(144.3)	48.8	(91.7)
Accrued income taxes	10.7	7.9	47.6
Accrued liabilities and customer deposits	(11.9)	31.7	(18.9)
Other assets and liabilities	227.1	(32.1)	8.2
Net cash provided by operating activities	1,015.5	314.7	188.8
Investing Activities
Purchase of property, plant and equipment	(185.3)	(93.3)	(89.5)
Proceeds from disposal of property, plant and equipment	3.9	11.3	1.3
Acquisitions of business, net of cash acquired	(2,996.4)	(51.2)	(945.3)
Other	0.0	(14.1)	0.0
Net cash used for investing activities	(3,177.8)	(147.3)	(1,033.5)
Financing Activities
Proceeds from debt, net of issuance costs	3,982.4	3,480.7	1,216.7
Payments of debt	(3,423.6)	(1,454.0)	(1,269.5)
Proceeds from exercise of stock options and other benefit plans	0.8	10.0	4.4
Payment of income tax withholding on share-based compensation	(6.3)	(12.3)	(6.8)
Payment of contingent consideration on acquisitions	(10.1)	0.0	0.0
Cash dividends	(81.7)	(46.3)	(42.2)
Net cash provided by (used for) financing activities	461.5	1,978.1	(97.4)
Effect of changes in currency exchange rates	(37.3)	(36.6)	32.3
(Decrease) increase in cash	(1,738.1)	2,108.9	(909.8)
Cash, cash equivalents and restricted cash, beginning of year	2,342.3	233.4	1,143.2
Cash, cash equivalents and restricted cash, end of year	$ 604.2	$ 2,342.3	$ 233.4

INTANGIBLES (Tables)

12 Months Ended

Dec. 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 year ended December 31, 2019 is as follows:


	Freight		Transit
In millions	Segment		Segment		Total
Balance at December 31, 2018	$	899.1	$	1,497.4	$	2,396.5
Additions	5,989.3		12.2		6,001.5
Foreign currency impact	(11.8)		(25.6)		(37.4)
Balance at December 31, 2019	$	6,876.6	$	1,484.0	$	8,360.6

Intangible Assets of the Company, Other Than Goodwill and Trademarks

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


	December 31,
In millions	2019		2018
Intellectual property, patents, and other intangibles, net of accumulated amortization of $123.8 and $40.1	$	1,108.9	$	13.3
Backlog, net of accumulated amortization of $92.0 and $2.0	1,342.1		2.0
Customer relationships, net of accumulated amortization of $212.9 and $158.5	1,029.9		531.8
Total	$	3,480.9	$	547.1

Estimated Amortization Expense Five Succeeding Years

Estimated amortization expense for the five succeeding years is as follows (in millions):


2020	$	278.7
2021	277.7
2022	277.3
2023	276.8
2024	267.3

LEASES - Narrative (Details)	Dec. 31, 2019
Minimum
Operating Leased Assets [Line Items]
Discount rate (as a percent)	1.00%
Maximum
Operating Leased Assets [Line Items]
Discount rate (as a percent)	12.30%

OTHER INCOME, NET

12 Months Ended

Dec. 31, 2019

Other Income and Expenses [Abstract]

OTHER INCOME, NET

The components of other income, net are as follows:


	For the year ended December 31,
In millions	2019		2018		2017
Foreign currency loss	$	(13.5)	$	(5.7)	$	(6.6)
Equity income	8.1		1.9		2.6
Expected return on pension assets/amortization	9.9		9.0		9.8
Other miscellaneous (expense) income	(1.7)		1.2		3.1
Total other income, net	$	2.8	$	6.4	$	8.9

STOCK-BASED COMPENSATION PLANS - Fair Value of Each Option Grant Weighted Average Assumptions (Details) - $ / shares	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Share-based Payment Arrangement [Abstract]
Dividend yield (as a percent)	0.66%	0.31%	0.23%
Risk-free interest rate (as a percent)	2.60%	2.80%	2.20%
Stock price volatility (as a percent)	25.80%	23.90%	23.40%
Expected life (years)	5 years	5 years	5 years
Weighted average fair value of options granted during the year (in dollars per share)	$ 19.54	$ 20.59	$ 20.69

EMPLOYEE BENEFIT PLANS - Weighted Average Assumptions Used to Develop Actuarial Present Value of Projected Benefit Obligation (Details) - Defined Benefit Pension Plans	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
United States
Defined Benefit Plan Disclosure [Line Items]
Discount rate (as a percent)	3.27%	4.30%	3.56%
Expected return on plan assets (as a percent)	5.35%	5.15%	4.95%
Rate of compensation increase (as a percent)	3.00%	3.00%	3.00%
Foreign Plan
Defined Benefit Plan Disclosure [Line Items]
Discount rate (as a percent)	1.84%	2.53%	2.40%
Expected return on plan assets (as a percent)	5.01%	5.10%	5.02%
Rate of compensation increase (as a percent)	2.64%	2.61%	2.54%

SEGMENT INFORMATION - Segment Financial Information (Details) - USD ($) $ in Millions	3 Months Ended								12 Months Ended
	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Segment Reporting Information [Line Items]
Total net sales	$ 2,368.4	$ 2,001.7	$ 2,236.3	$ 1,593.6	$ 1,117.8	$ 1,077.8	$ 1,111.7	$ 1,056.2	$ 8,200.0	$ 4,363.5	$ 3,881.7
Income (loss) from operations	226.1	$ 169.1	$ 200.6	$ 67.3	93.4	$ 125.2	$ 123.5	$ 131.3	663.1	473.4	421.1
Interest expense and other, net									(216.3)	(105.8)	(69.0)
Income (loss) from operations before income taxes									446.8	367.6	352.1
Depreciation and amortization									401.4	109.3	103.2
Capital expenditures									185.3	93.3	89.5
Segment assets	18,944.2				8,649.2				18,944.2	8,649.2	6,580.0
Freight Segment
Segment Reporting Information [Line Items]
Total net sales									5,441.4	1,766.4	1,538.6
Transit Segment
Segment Reporting Information [Line Items]
Total net sales									2,758.6	2,597.1	2,343.1
Operating Segments \| Freight Segment
Segment Reporting Information [Line Items]
Total net sales									5,501.0	1,819.2	1,577.6
Income (loss) from operations									642.9	334.3	271.7
Interest expense and other, net									0.0	0.0	0.0
Income (loss) from operations before income taxes									642.9	334.3	271.7
Depreciation and amortization									330.4	41.6	43.1
Capital expenditures									105.1	24.6	32.2
Segment assets	14,450.9				3,329.6				14,450.9	3,329.6	3,104.9
Operating Segments \| Transit Segment
Segment Reporting Information [Line Items]
Total net sales									2,782.0	2,608.4	2,348.6
Income (loss) from operations									214.4	192.5	177.2
Interest expense and other, net									0.0	0.0	0.0
Income (loss) from operations before income taxes									214.4	192.5	177.2
Depreciation and amortization									62.2	62.7	58.0
Capital expenditures									63.7	61.6	52.5
Segment assets	6,026.0				9,478.6				6,026.0	9,478.6	7,885.3
Corporate Activities and Elimination
Segment Reporting Information [Line Items]
Total net sales									(83.0)	(64.1)	(44.5)
Income (loss) from operations									(194.2)	(53.4)	(27.8)
Interest expense and other, net									(216.3)	(105.8)	(69.0)
Income (loss) from operations before income taxes									(410.5)	(159.2)	(96.8)
Depreciation and amortization									8.8	5.0	2.1
Capital expenditures									16.5	7.1	4.8
Segment assets	$ (1,532.7)				$ (4,159.0)				(1,532.7)	(4,159.0)	(4,410.2)
Corporate Activities and Elimination \| Freight Segment
Segment Reporting Information [Line Items]
Total net sales									59.6	52.8	39.0
Corporate Activities and Elimination \| Transit Segment
Segment Reporting Information [Line Items]
Total net sales									$ 23.4	$ 11.3	$ 5.5

LONG-TERM DEBT (Tables)

12 Months Ended

Dec. 31, 2019

Debt Disclosure [Abstract]

Schedule of Long-term Debt

Long-term debt consisted of the following:


			December 31,
	Effective		2019						2018
In millions	Interest Rate		Book Value		Fair Value ¹		Book Value		Fair Value ¹
Senior Credit Facility:
U.S. dollar-denominated Term Loans, net of unamortized debt issuance costs of $1.1 and $1.2	3.1	%	$	684.7	$	684.7	$	338.1	$	338.1
Multi-Currency Revolving loan facility net of unamortized debt issuance costs of $0.9 and $1.9	3.4	%	231.5		231.5		—		—
Floating Senior Notes, due 2021, net of unamortized debt issuance costs of $2.0 and $3.2	3.9	%	498.0		500.0		496.8		497.4
4.375% Senior Notes, due 2023, net of unamortized discount and debt issuance costs of $0.9 and $1.2	4.5	%	249.1		263.9		248.8		254.2
4.15% Senior Notes, due 2024, net of unamortized debt issuance costs of $5.7 and $7.0	4.6	%	744.3		805.5		743.0		727.4
4.70% Senior Notes, due 2028, net of unamortized debt issuance costs of $9.2 and $10.3	5.0	%	1,240.8		1,378.3		1,239.7		1,179.6
3.45% Senior Notes, due 2026, net of unamortized debt issuance costs of $1.5 and $1.7	3.5	%	748.5		759.1		748.3		675.1
Other Borrowings			32.4		32.4		42.2		42.2
Total			4,429.3		4,655.4		3,856.9		3,714.0
Less - current portion			95.7		95.7		64.1		64.1
Long-term portion			$	4,333.6	$	4,559.7	$	3,792.8	$	3,649.9

¹ See Note 19 for information on the fair value measurement of the Company's long-term debt.


As of December 31, 2019, the annual repayment requirements for debt obligations are as follows:
In millions
2020	$	95.7
2021	809.8
2022	300.0
2023	479.0
2024	755.5
Thereafter	1,989.3
Total	$	4,429.3

The issuance was comprised of the following three series of notes:


Senior Notes (in millions)	Par Value		Discount at Issuance		Net Price at Issuance		Issuance Cost		Net Proceeds
Floating Senior Notes due 2021	$	500.0	$	—	$	500.0	$	3.5	$	496.5
4.15% Senior Notes due 2024	750.0		1.5		748.5		7.4		741.1
4.70% Senior Notes due 2028	1,250.0		1.4		1,248.6		10.6		1,238.0
Total	$	2,500.0	$	2.9	$	2,497.1	$	21.5	$	2,475.6

Schedule of Line of Credit Facilities

The following table presents availability under our credit facilities:


(in millions)	Multi-currency revolving loan facility
Maximum Availability	$	1,200.0
Outstanding Borrowings	232.0
Letters of Credit Under Credit Agreement	30.0
Current Availability	$	938.0

Interest Coverage Ratio & Leverage Ratio


Interest Coverage Ratio ¹						3.0x
Leverage Ratio ²						3.25x

1. The interest coverage ratio is defined as EBITDA, as defined in the Credit Agreement and Term Loan Agreement, to net interest expense for the four quarters then ended.

- 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

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+ Details

LONG-TERM DEBT - Interest Coverage Ratio & Leverage Ratio (Details) - 2018 Refinancing Credit Agreement	12 Months Ended
	Dec. 31, 2019
Debt Instrument [Line Items]
Interest Coverage Ratio	3.0
Leverage Ratio	3.25

INCOME TAXES - Consolidated Provision for Income Taxes (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Current taxes
Federal	$ 5.7	$ 6.9	$ 86.2
State	0.5	5.8	3.6
Foreign	141.4	68.5	67.4
Current taxes	147.6	81.2	157.2
Deferred taxes
Federal	19.8	4.7	(22.9)
State	2.9	1.3	(1.0)
Foreign	(50.0)	(11.3)	(43.5)
Deferred taxes	(27.3)	(5.3)	(67.4)
Total provision	$ 120.3	$ 75.9	$ 89.8

SUPPLEMENTAL CASH FLOW DISCLOSURES (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Supplemental Cash Flow Elements [Abstract]
Interest paid during the year	$ 193.1	$ 81.8	$ 75.3
Income taxes paid during the year, net of amount refunded	99.5	83.9	89.4
Fair value of assets acquired	12,612.9	91.8	452.2
Liabilities assumed	2,466.3	32.9	207.8
Non-controlling interest (acquired) assumed	30.9	0.0	(761.8)
Stock and cash paid	10,115.7	58.9	1,006.2
Less: Cash acquired	179.6	7.7	35.4
Stock used for acquisition	6,939.7	0.0	25.5
Net cash paid	$ 2,996.4	$ 51.2	$ 945.3

INCOME TAXES - Components of Deferred Tax Assets and Liabilities (Details) - USD ($) $ in Millions	Dec. 31, 2019	Dec. 31, 2018
Deferred income tax assets:
Accrued expenses and reserves	$ 35.8	$ 13.8
Warranty reserve	46.6	25.9
Deferred compensation/employee benefits	32.3	9.8
Right-of-use asset	63.1
Pension and postretirement obligations	28.1	19.5
Inventory	25.8	16.8
Net operating loss carry forwards	95.6	85.1
Other	18.8	19.2
Gross deferred income tax assets	346.1	190.1
Valuation allowance	58.0	41.7
Total deferred income tax assets	288.1	148.4
Deferred income tax liabilities:
Property, plant & equipment	42.7	35.5
Right-of-use liability	63.1
Intangibles	235.6	287.4
Total deferred income tax liabilities	341.4	322.9
Total deferred income tax liabilities	$ (53.3)	$ (174.5)

ACQUISITIONS (Tables)

12 Months Ended

Dec. 31, 2019

Business Combinations [Abstract]

Summary of Fair Value of Assets Acquired and Liabilities Assumed

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


In millions
Assets acquired
Cash and cash equivalents	$	177.6
Accounts receivable	515.5
Inventories	1,189.2
Other current assets	71.5
Property, plant, and equipment	1,089.6
Goodwill	5,987.5
Trade names	55.0
Customer relationships	550.0
Intellectual property	1,180.0
Backlog	1,440.0
Other noncurrent assets	330.3
Total assets acquired	12,586.2
Liabilities assumed
Current liabilities	1,587.5
Contingent consideration	440.0
Other noncurrent liabilities	652.9
Total liabilities assumed	2,680.4
Net assets acquired	9,905.8
Noncontrolling interest	$	86.8

The following table summarizes the final estimated fair value of the assets acquired and liabilities assumed at the date of acquisition for Annax:


	Annax
	March 22, 2018
In millions
Current assets, net of cash acquired	$	32.8
Property, plant & equipment	0.7
Goodwill	38.5
Other intangible assets	11.7
Total assets acquired	83.7
Total liabilities assumed	(55.1)
Net assets acquired	$	28.6

Pro Forma Financial Information

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


	For the year ended December 31,
In millions	2019		2018
Net sales	$	8,675.6	$	8,030.5
Gross profit	2,528.3		2,102.8
Net income attributable to Wabtec shareholders	485.1		234.8
Diluted earnings per share
As Reported	$	1.84	$	3.05
Pro forma	$	2.53	$	1.22

DERIVATIVE FINANCIAL INSTRUMENTS AND HEDGING (Tables)

12 Months Ended

Dec. 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 December 31, 2019:


	Fair Value						Gross Notional Amount
In millions	Designated		Non-Designated		Designated		Non-Designated
Foreign Exchange Contracts
Other current assets	$	11.2	$	1.4	$	2,429.0	$	412.9
Other current liabilities	(9.8)		—		1,184.6		—
Cross-currency Swaps
Other current assets	—		—		—		—
Other current liabilities	(9.4)		—		560.8		—
Total	$	(8.0)	$	1.4	$	4,174.4	$	412.9

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


	Fair Value						Gross Notional Amount
In millions	Designated		Non-Designated		Designated		Non-Designated
Foreign Exchange Contracts
Other current assets	$	—	$	1.3	$	—	$	834.0
Other current liabilities	(2.3)		—		863.0		—
Cross-currency Swaps
Other current assets	—		—		—		—
Other current liabilities	—		—		—		—
Total	$	(2.3)	$	1.3	$	863.0	$	834.0

ACQUISITIONS - Summary of Preliminary Estimated Fair Values of GE Transportation, Wabtec Company Assets Acquired and Liabilities Assumed (Detail) - USD ($) $ in Millions	Dec. 31, 2019	Feb. 25, 2019	Dec. 31, 2018
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets [Abstract]
Goodwill	$ 8,360.6		$ 2,396.5
General Electric Company
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets [Abstract]
Cash and cash equivalents		$ 177.6
Accounts receivable		515.5
Inventories		1,189.2
Other current assets		71.5
Property, plant & equipment		1,089.6
Goodwill		5,987.5
Other noncurrent assets		330.3
Total assets acquired		12,586.2
Liabilities assumed
Current liabilities		1,587.5
Contingent consideration		440.0
Other noncurrent liabilities		652.9
Total liabilities assumed		2,680.4
Net assets acquired		9,905.8
Noncontrolling interest		86.8
General Electric Company \| Customer Contracts [Member]
Liabilities assumed
Other noncurrent liabilities		504.7
General Electric Company \| Trade names
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets [Abstract]
Acquired intangible assets		55.0
General Electric Company \| Customer relationships
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets [Abstract]
Acquired intangible assets		550.0
General Electric Company \| Intellectual Property
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets [Abstract]
Acquired intangible assets		1,180.0
General Electric Company \| Backlog
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets [Abstract]
Acquired intangible assets		$ 1,440.0

LEASES - Lease Expense (Details) $ in Millions	12 Months Ended
LEASES - Lease Expense (Details) $ in Millions	Dec. 31, 2019 USD ($)
Leases [Abstract]
Operating lease expense	$ 54.4
Finance lease expense amortization of leased assets	1.1
Short-term and variable lease expense	0.6
Sublease income	(0.5)
Total	$ 55.6

SUPPLEMENTAL CASH FLOW DISCLOSURES

12 Months Ended

Dec. 31, 2019

Supplemental Cash Flow Elements [Abstract]

SUPPLEMENTAL CASH FLOW DISCLOSURES


	Year Ended December 31,
	2019		2018		2017
In millions
Interest paid during the year	$	193.1	$	81.8	$	75.3
Income taxes paid during the year, net of amount refunded	$	99.5	$	83.9	$	89.4
Business acquisitions:
Fair value of assets acquired	12,612.9		91.8		452.2
Liabilities assumed	2,466.3		32.9		207.8
Non-controlling interest (acquired) assumed	30.9		—		(761.8)
Stock and cash paid	10,115.7		58.9		1,006.2
Less: Cash acquired	179.6		7.7		35.4
Stock used for acquisition	6,939.7		—		25.5
Net cash paid	$	2,996.4	$	51.2	$	945.3

SUPPLEMENTAL CASH FLOW DISCLOSURES (Tables)

12 Months Ended

Dec. 31, 2019

Supplemental Cash Flow Elements [Abstract]

Schedule of Cash Flow Disclosures


	Year Ended December 31,
	2019		2018		2017
In millions
Interest paid during the year	$	193.1	$	81.8	$	75.3
Income taxes paid during the year, net of amount refunded	$	99.5	$	83.9	$	89.4
Business acquisitions:
Fair value of assets acquired	12,612.9		91.8		452.2
Liabilities assumed	2,466.3		32.9		207.8
Non-controlling interest (acquired) assumed	30.9		—		(761.8)
Stock and cash paid	10,115.7		58.9		1,006.2
Less: Cash acquired	179.6		7.7		35.4
Stock used for acquisition	6,939.7		—		25.5
Net cash paid	$	2,996.4	$	51.2	$	945.3

PROPERTY, PLANT & EQUIPMENT - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Property, Plant and Equipment [Abstract]
Depreciation expense	$ 157.8	$ 66.4	$ 66.7

ACQUISITIONS - Pro Forma Financial Information (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended								12 Months Ended
	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Business Combinations [Abstract]
Net sales									$ 8,675.6	$ 8,030.5
Gross profit									2,528.3	2,102.8
Net income attributable to Wabtec shareholders									$ 485.1	$ 234.8
Diluted earnings per share
As Reported (in dollars per share)	$ 0.71	$ 0.48	$ 0.54	$ (0.04)	$ 0.36	$ 0.91	$ 0.87	$ 0.92	$ 1.84	$ 3.05	$ 2.72
Pro forma (in dollars per share)									$ 2.53	$ 1.22

- Definition

+ References

+ Details

SEGMENT INFORMATION - Geographic Area Data (Details) - USD ($) $ in Millions	3 Months Ended								12 Months Ended
	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Revenues From External Customers And Long Lived Assets [Line Items]
Total net sales	$ 2,368.4	$ 2,001.7	$ 2,236.3	$ 1,593.6	$ 1,117.8	$ 1,077.8	$ 1,111.7	$ 1,056.2	$ 8,200.0	$ 4,363.5	$ 3,881.7
Long-Lived Assets	1,655.8				563.8				1,655.8	563.8	574.0
United States
Revenues From External Customers And Long Lived Assets [Line Items]
Total net sales									3,381.0	1,460.3	1,323.8
Long-Lived Assets	1,089.8				204.3				1,089.8	204.3	211.6
United Kingdom
Revenues From External Customers And Long Lived Assets [Line Items]
Total net sales									376.2	395.8	356.5
Long-Lived Assets	55.5				54.8				55.5	54.8	57.7
Germany
Revenues From External Customers And Long Lived Assets [Line Items]
Total net sales									340.0	314.7	208.8
Long-Lived Assets	77.7				75.5				77.7	75.5	71.7
Canada
Revenues From External Customers And Long Lived Assets [Line Items]
Total net sales									733.3	279.0	279.0
Long-Lived Assets	13.2				5.3				13.2	5.3	5.8
Australia
Revenues From External Customers And Long Lived Assets [Line Items]
Total net sales									296.4	173.5	136.1
Long-Lived Assets	12.1				9.6				12.1	9.6	10.5
Mexico
Revenues From External Customers And Long Lived Assets [Line Items]
Total net sales									356.6	200.6	160.0
Long-Lived Assets	23.7				9.2				23.7	9.2	9.1
France
Revenues From External Customers And Long Lived Assets [Line Items]
Total net sales									294.3	247.8	237.5
Long-Lived Assets	58.9				56.7				58.9	56.7	57.8
India
Revenues From External Customers And Long Lived Assets [Line Items]
Total net sales									504.2	178.5	137.8
Long-Lived Assets	159.2				12.8				159.2	12.8	12.5
China
Revenues From External Customers And Long Lived Assets [Line Items]
Total net sales									290.4	170.3	178.1
Long-Lived Assets	34.5				33.4				34.5	33.4	36.4
Other international
Revenues From External Customers And Long Lived Assets [Line Items]
Total net sales									1,627.6	943.0	864.1
Long-Lived Assets	$ 131.2				$ 102.2				$ 131.2	$ 102.2	$ 100.9

SEGMENT INFORMATION

12 Months Ended

Dec. 31, 2019

Segment Reporting [Abstract]

SEGMENT INFORMATION

The Company 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. Initiatives to integrate GE Transportation operations into Wabtec including recent restructuring programs announced in late 2019 resulted in changes to the Company's organizational structure and the financial reporting utilized by the Company's chief operating decision maker to assess performance and allocate resources; as a result, certain asset groups were reorganized from the Freight Segment to the Transit Segment and vice versa. The change in the Company’s reportable segments was effective in the fourth quarter of 2019 and is reflected below in 2019 and through the retrospective revision of 2018 and 2017 segment information. The Company believes these changes better present Management's new view of the business. The Company’s business segments are:

Freight Segment primarily builds new locomotives, manufactures and services components for new and existing freight cars and 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, 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. The changes to the asset groups comprising the Freight and Transit segments have been reflected through retrospective revision of prior period segment information.


Segment financial information for 2019 is as follows:
					Corporate
	Freight		Transit		Activities and
In million	Segment		Segment		Elimination		Total
Sales to external customers	$	5,441.4	$	2,758.6	$	—	$	8,200.0
Intersegment sales/(elimination)	59.6		23.4		(83.0)		—
Total sales	$	5,501.0	$	2,782.0	$	(83.0)	$	8,200.0
Income (loss) from operations	$	642.9	$	214.4	$	(194.2)	$	663.1
Interest expense and other, net	—		—		(216.3)		(216.3)
Income (loss) from operations before income taxes	$	642.9	$	214.4	$	(410.5)	$	446.8
Depreciation and amortization	$	330.4	$	62.2	$	8.8	$	401.4
Capital expenditures	105.1		63.7		16.5		185.3
Segment assets	14,450.9		6,026.0		(1,532.7)		18,944.2


Segment financial information for 2018 is as follows:
					Corporate
	Freight		Transit		Activities and
In millions	Segment		Segment		Elimination		Total
Sales to external customers	$	1,766.4	$	2,597.1	$	—	$	4,363.5
Intersegment sales/(elimination)	52.8		11.3		(64.1)		—
Total sales	$	1,819.2	$	2,608.4	$	(64.1)	$	4,363.5
Income (loss) from operations	$	334.3	$	192.5	$	(53.4)	$	473.4
Interest expense and other, net	—		—		(105.8)		(105.8)
Income (loss) from operations before income taxes	$	334.3	$	192.5	$	(159.2)	$	367.6
Depreciation and amortization	$	41.6	$	62.7	$	5.0	$	109.3
Capital expenditures	24.6		61.6		7.1		93.3
Segment assets	3,329.6		9,478.6		(4,159.0)		8,649.2


Segment financial information for 2017 is as follows:
					Corporate
	Freight		Transit		Activities and
In millions	Segment		Segment		Elimination		Total
Sales to external customers	$	1,538.6	$	2,343.1	$	—	$	3,881.7
Intersegment sales/(elimination)	39.0		5.5		(44.5)		—
Total sales	$	1,577.6	$	2,348.6	$	(44.5)	$	3,881.7
Income (loss) from operations	$	271.7	$	177.2	$	(27.8)	$	421.1
Interest expense and other, net	—		—		(69.0)		(69.0)
Income (loss) from operations before income taxes	$	271.7	$	177.2	$	(96.8)	$	352.1
Depreciation and amortization	$	43.1	$	58.0	$	2.1	$	103.2
Capital expenditures	32.2		52.5		4.8		89.5
Segment assets	3,104.9		7,885.3		(4,410.2)		6,580.0


	Net Sales										Long-Lived Assets
In millions	2019		2018		2017		2019		2018		2017
United States	$	3,381.0	$	1,460.3	$	1,323.8	$	1,089.8	$	204.3	$	211.6
Canada	733.3		279.0		279.0		13.2		5.3		5.8
India	504.2		178.5		137.8		159.2		12.8		12.5
United Kingdom	376.2		395.8		356.5		55.5		54.8		57.7
Mexico	356.6		200.6		160.0		23.7		9.2		9.1
Germany	340.0		314.7		208.8		77.7		75.5		71.7
Australia	296.4		173.5		136.1		12.1		9.6		10.5
France	294.3		247.8		237.5		58.9		56.7		57.8
China	290.4		170.3		178.1		34.5		33.4		36.4
Other international	1,627.6		943.0		864.1		131.2		102.2		100.9
Total	$	8,200.0	$	4,363.5	$	3,881.7	$	1,655.8	$	563.8	$	574.0

Export sales from the Company’s United States operations were $905.2 million, $512.5 million and $448.0 million for the years ended December 31, 2019, 2018 and 2017, respectively.

Net sales by product line are as follows:


In millions	2019		2018		2017
Freight Segment:
Equipment	$	1,699.7	$	—	$	—
Components	1,073.5		1,169.1		1,004.6
Digital Electronics	677.1		474.1		400.8
Services	1,991.1		123.2		133.2
Total Freight Segment sales	$	5,441.4	$	1,766.4	$	1,538.6

Transit Segment:
Original Equipment Manufacturer	1,286.6		1,194.0		1,050.0
Aftermarket	1,472.0		1,403.1		1,293.1
Total Transit Segment sales	$	2,758.6	$	2,597.1	$	2,343.1

LEASES - Maturity of Lease Liabilities (Details) $ in Millions	Dec. 31, 2019 USD ($)
Operating Leases
2020	$ 53.9
2021	45.3
2022	38.1
2023	33.4
2024	29.3
Thereafter	103.2
Total lease payments	303.2
Less: Present value discount	(30.1)
Present value lease liabilities	273.1
Finance Leases
2020	0.4
2021	0.2
2022	0.2
2023	0.2
2024	0.1
Thereafter	0.2
Total lease payments	1.3
Less: Present value discount	0.0
Present value lease liabilities	1.3
Total
2020	54.3
2021	45.5
2022	38.3
2023	33.6
2024	29.4
Thereafter	103.4
Total lease payments	304.5
Less: Present value discount	(30.1)
Present value lease liabilities	$ 274.4

BUSINESS	12 Months Ended
BUSINESS	Dec. 31, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]
BUSINESS	BUSINESSWabtec is one of the world’s largest providers of locomotives, value-added, technology-based equipment, systems and services for the global freight rail and passenger transit industries. Our highly engineered products, which are intended to 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. Our products enhance safety, improve productivity and reduce maintenance costs for customers, and many of our core products and services are essential in the safe and efficient operation of freight rail and passenger transit vehicles. Wabtec is a global company with operations in over 50 countries and our products can be found in more than 100 countries throughout the world. In 2019, about 60% of the Company’s net sales came from customers outside the U.S.

EMPLOYEE BENEFIT PLANS (Tables)

12 Months Ended

Dec. 31, 2019

Defined Benefit Plan Disclosure [Line Items]

Schedule of U.S. and International Pension Plans with Accumulated Benefit Obligations and with Projected Benefit Obligations in Excess of Plan Assets


	U.S.						International
In millions	2019		2018		2019		2018
Information for pension plans with accumulated benefit obligations in excess of Plan assets:
Projected benefit obligation	$	(41.1)	$	(39.4)	$	(283.1)	$	(251.0)
Accumulated benefit obligation	(40.2)		(38.8)		(272.6)		(243.6)
Fair value of plan assets	34.3		31.9		193.9		172.3
Information for pension plans with projected benefit obligations in
excess of plan assets:
Projected benefit obligation	$	(41.1)	$	(39.5)	$	(284.4)	$	(251.0)
Fair value of plan assets	34.3		32.0		195.1		172.3

Pension Plan Assets by Asset Category

Plan assets by asset category at December 31, 2019 and 2018 are as follows:


	U.S.						International
In millions	2019		2018		2019		2018
Pension Plan Assets
Equity security funds	$	16.4	$	13.2	$	70.8	$	95.1
Debt security funds and other	16.3		17.5		191.3		140.9
Cash and cash equivalents	1.6		1.2		7.7		3.4
Fair value of plan assets	$	34.3	$	31.9	$	269.8	$	239.4

Schedule of Pension Plan Assets Measured at Fair Value

The following tables summarize our pension plan assets measured at fair value on a recurring basis by fair value hierarchy level (See Note 19):


	December 31, 2019
In millions	NAV		Level 1		Level 2		Level 3		Total
US:
Equity	$	—	$	16.4	$	—	$	—	$	16.4
Debt Securities and other	—		3.5		12.8		—		16.3
Cash and cash equivalents	—		1.5		—		—		1.5
International:
Equity	$	4.9	$	19.9	$	46.0	$	—	$	70.8
Debt Securities and other	—		3.1		179.2		—		182.4
Insurance Contracts	—		—		4.3		4.6		8.9
Cash and cash equivalents	—		7.0		0.7		—		7.8
Total	$	4.9	$	51.5	$	243.1	$	4.6	$	304.1


	December 31, 2018
In millions	NAV		Level 1		Level 2		Level 3		Total
US:
Equity	$	—	$	13.2	$	—	$	—	$	13.2
Debt Securities	—		4.5		13.0		—		17.5
Cash and cash equivalents	—		1.3		—		—		1.3
International:
Equity	$	3.7	$	34.8	$	56.5	$	—	$	95.1
Debt Securities	—		—		125.6		—		125.6
Insurance Contracts	—		—		5.4		9.9		15.3
Cash and cash equivalents	—		3.5		—		—		3.5
Total	$	3.7	$	57.4	$	200.5	$	9.9	$	271.5

Schedule of Reconciliation of Level 3 Assets

The following table presents a reconciliation of Level 3 assets:


In millions	Total
Balance at December 31, 2017	$	13.1
Net purchases, issuances, and settlements	(3.6)
Actual return of plan assets	0.3
Transfers	0.7
Effect of currency rate changes	(0.5)
Balance at December 31, 2018	$	9.9
Net purchases, issuances, and settlements	0.2
Actual return of plan assets	0.3
Transfers	(5.8)
Effect of currency rate changes	—
Balance at December 31, 2019	$	4.6

Costs Recognized Under Defined Contribution Plans and Multiemployer Pension Plans

Costs recognized under these plans are summarized as follows:


	For the year ended December 31,
In millions	2019		2018		2017
Multi-employer pension and health & welfare plans	$	0.9	$	1.0	$	1.5
401(k) savings and other defined contribution plans	55.7		27.9		23.2
Total	$	56.6	$	28.8	$	24.7

Contributions in Multiemployer Pension Plans


			Pension Protection Act Zone Status (b)						FIP/			Contributions by the Company													Expiration Dates of
In thousands							RP Status Pending/														Surcharge Imposed		Collective Bargaining
Pension Fund	EIN/PN (a)			2019		2018		Implemented (c)			2019				2018				2017			(d)		Agreements
Idaho Operating Engineers-	EIN #	91-6075538	Green		Green		No		$	881		(1)	$	965		(1)	$	1,020		(1)	No		8/6/2021
Employers Pension Trust Fund	Plan#	001
							Total Contributions		$	881			$	965			$	1,020

(1)The Company’s contribution represents more than 5% of the total contributions to the plan.

(a) The “EIN / PN” column provides the Employer Identification Number and the three-digit plan number assigned to a plan by the Internal Revenue Service.

Defined Benefit Pension Plans

Defined Benefit Plan Disclosure [Line Items]

Obligations and Funded Status

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

Obligations and Funded Status


	U.S.						International
In millions	2019		2018		2019		2018
Change in projected benefit obligation
Obligation at beginning of year	$	(39.4)	$	(44.2)	$	(309.2)	$	(353.0)
Service cost	(0.3)		(0.3)		(2.7)		(2.6)
Interest cost	(1.5)		(1.3)		(7.0)		(7.0)
Employee contributions	—		—		(0.5)		(0.4)
Plan settlements and amendments	—		—		4.4		15.2
Benefits paid	3.0		3.5		13.1		13.5
Acquisition	—		—		(5.0)		(0.9)
Actuarial gain (loss)	(2.9)		2.9		(32.4)		6.7
Effect of currency rate changes	—		—		(8.0)		19.3
Obligation at end of year	$	(41.1)	$	(39.4)	$	(347.3)	$	(309.2)
Change in plan assets
Fair value of plan assets at beginning of year	$	31.9	$	37.4	$	239.4	$	281.6
Actual return on plan assets	5.3		(2.0)		23.9		(6.9)
Employer contributions	—		—		9.4		10.8
Employee contributions	—		—		0.5		0.4
Benefits paid	(2.9)		(3.5)		(13.1)		(13.5)
Settlements	—		—		(0.4)		(16.6)
Acquisition	—		—		1.2		—
Effect of currency rate changes	—		—		8.9		(16.4)
Fair value of plan assets at end of year	$	34.3	$	31.9	$	269.8	$	239.4
Funded status
Fair value of plan assets	$	34.3	$	31.9	$	269.8	$	239.4
Benefit obligations	(41.1)		(39.4)		(347.3)		(309.2)
Funded status	$	(6.8)	$	(7.5)	$	(77.5)	$	(69.8)
Amounts recognized in the statement of financial position consist of:
Noncurrent assets	$	—	$	—	$	11.8	$	8.9
Current liabilities	—		—		(2.4)		(2.1)
Noncurrent liabilities	(6.9)		(7.5)		(86.9)		(76.6)
Net amount recognized	$	(6.9)	$	(7.5)	$	(77.5)	$	(69.8)
Amounts recognized in accumulated other comprehensive income (loss) consist of:
Prior service cost	—		—		(1.4)		(1.4)
Net actuarial loss	(18.8)		(20.3)		(78.3)		(58.7)
Net amount recognized	$	(18.8)	$	(20.3)	$	(79.7)	$	(60.1)

Components of Net Periodic Benefit Costs


	U.S.										International
In millions	2019		2018		2017		2019		2018		2017
Service cost	$	0.3	$	0.3	$	0.3	$	2.7	$	2.6	$	2.7
Interest cost	1.5		1.3		1.4		7.0		7.0		7.3
Expected return on plan assets	(1.7)		(1.8)		(1.7)		(11.8)		(13.5)		(12.4)
Amortization of initial net obligation and prior service cost	—		—		—		0.1		—		—
Amortization of net loss	0.8		1.0		1.0		2.5		2.1		2.8
Settlement and curtailment losses recognized	—		—		—		—		3.1		0.8
Net periodic benefit cost	$	0.9	$	0.8	$	1.0	$	0.5	$	1.3	$	1.2

Other Changes in Plan Assets and Benefit Obligations Recognized in Other Comprehensive Income

Other Changes in Plan Assets and Benefit Obligations Recognized in Other Comprehensive Income during 2019 are as follows:


In millions	U.S.		International
Net gain (loss) arising during the year	$	0.7	$	(20.3)
Effect of exchange rates	—		(2.1)
Amortization, settlement, or curtailment recognition of net transition obligation	—		0.4
Amortization or curtailment recognition of prior service cost	—		0.1
Amortization or settlement recognition of net loss	0.8		2.5
Total recognized in other comprehensive gain	$	1.5	$	(19.4)
Total recognized in net periodic benefit cost and other comprehensive gain	$	0.6	$	(19.9)

Weighted Average Assumptions Used to Develop Actuarial Present Value of Projected Benefit Obligation

The weighted average assumptions in the following table represent the rates used to develop the actuarial present value of the projected benefit obligation for the year listed.


	U.S.										International
	2019		2018		2017		2019		2018		2017
Discount rate	3.27	%	4.30	%	3.56	%	1.84	%	2.53	%	2.40	%
Expected return on plan assets	5.35	%	5.15	%	4.95	%	5.01	%	5.10	%	5.02	%
Rate of compensation increase	3.00	%	3.00	%	3.00	%	2.64	%	2.61	%	2.54	%

Amounts Included in Other Comprehensive Loss That are Expected to be Recognized as Components of Periodic Benefit Costs

As of December 31, 2019, the following table represents the amounts included in other comprehensive loss that are expected to be recognized as components of periodic benefit costs in 2020.


In millions	U.S.		International
Prior service cost	—		0.1
Net actuarial loss	1.0		4.3
	$	1.0	$	4.4

Benefit Payments Expected to be Paid to Plan Participants

Benefit payments expected to be paid to plan participants are as follows:


In millions	U.S.		International
Year ended December 31,
2020	$	3.2	$	16.0
2021	3.1		16.5
2022	3.0		17.0
2023	3.0		17.7
2024	2.9		17.9
2025 through 2029	13.0		93.4

EMPLOYEE BENEFIT PLANS - Costs Recognized Under Defined Contribution Plans and Multiemployer Pension Plans (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Retirement Benefits [Abstract]
Multi-employer pension and health & welfare plans	$ 0.9	$ 1.0	$ 1.5
401(k) savings and other defined contribution plans	55.7	27.9	23.2
Total	$ 56.6	$ 28.8	$ 24.7

LONG-TERM DEBT - Schedule of Long-Term Debt (Details) - USD ($) $ in Millions	Dec. 31, 2019	Dec. 31, 2018	Sep. 14, 2018
Debt Instrument [Line Items]
Total	$ 4,429.3	$ 3,856.9
Less - current portion	95.7	64.1
Long-term portion	4,333.6	3,792.8
Fair Value
Debt Instrument [Line Items]
Total	4,655.4	3,714.0
Less - current portion	95.7	64.1
Long-term portion	4,559.7	3,649.9
Senior Notes
Debt Instrument [Line Items]
Total			$ 2,497.1
Other Debt Obligations
Debt Instrument [Line Items]
Total	32.4	42.2
Other Debt Obligations \| Fair Value
Debt Instrument [Line Items]
Total	$ 32.4	42.2
Revolving Credit Facility \| Line of Credit
Debt Instrument [Line Items]
Effective interest rate (as a percent)	3.40%
Total	$ 231.5	0.0
Unamortized debt issuance cost	0.9	1.9
Revolving Credit Facility \| Line of Credit \| Fair Value
Debt Instrument [Line Items]
Total	$ 231.5	0.0
U.S. Dollar-Denominated Term Loans \| Revolving Credit Facility \| Line of Credit
Debt Instrument [Line Items]
Effective interest rate (as a percent)	3.10%
Total	$ 684.7	338.1
Unamortized debt issuance cost	1.1	1.2
U.S. Dollar-Denominated Term Loans \| Revolving Credit Facility \| Line of Credit \| Fair Value
Debt Instrument [Line Items]
Total	$ 684.7	338.1
Floating Rate Notes Due 2021 \| Senior Notes
Debt Instrument [Line Items]
Effective interest rate (as a percent)	3.90%
Total	$ 498.0	496.8	500.0
Unamortized debt issuance cost	2.0	3.2
Floating Rate Notes Due 2021 \| Senior Notes \| Fair Value
Debt Instrument [Line Items]
Total	$ 500.0	497.4
4.375 Percent Senior Notes Due Twenty Thousand and Twenty Three \| Senior Notes
Debt Instrument [Line Items]
Effective interest rate (as a percent)	4.50%
Total	$ 249.1	$ 248.8
Stated interest rate (as a percent)	4.375%	4.375%
Unamortized debt issuance cost	$ 0.9	$ 1.2
4.375 Percent Senior Notes Due Twenty Thousand and Twenty Three \| Senior Notes \| Fair Value
Debt Instrument [Line Items]
Total	$ 263.9	254.2
4.150 Percent Senior Notes Due Twenty Thousand and Twenty Four \| Senior Notes
Debt Instrument [Line Items]
Effective interest rate (as a percent)	4.60%
Total	$ 744.3	$ 743.0	$ 748.5
Stated interest rate (as a percent)	4.15%	4.15%	4.15%
Unamortized debt issuance cost	$ 5.7	$ 7.0
4.150 Percent Senior Notes Due Twenty Thousand and Twenty Four \| Senior Notes \| Fair Value
Debt Instrument [Line Items]
Total	$ 805.5	727.4
4.70 Percent Senior Notes Due Twenty Thousand and Twenty Six \| Senior Notes
Debt Instrument [Line Items]
Effective interest rate (as a percent)	5.00%
Total	$ 1,240.8	$ 1,239.7	$ 1,248.6
Stated interest rate (as a percent)	4.70%	4.70%	4.70%
Unamortized debt issuance cost	$ 9.2	$ 10.3
4.70 Percent Senior Notes Due Twenty Thousand and Twenty Six \| Senior Notes \| Fair Value
Debt Instrument [Line Items]
Total	$ 1,378.3	1,179.6
3.45 Percent Senior Notes Due Two Thousand and Twenty Six \| Senior Notes
Debt Instrument [Line Items]
Effective interest rate (as a percent)	3.50%
Total	$ 748.5	$ 748.3
Stated interest rate (as a percent)	3.45%	3.45%
Unamortized debt issuance cost	$ 1.5	$ 1.7
3.45 Percent Senior Notes Due Two Thousand and Twenty Six \| Senior Notes \| Fair Value
Debt Instrument [Line Items]
Total	$ 759.1	$ 675.1

EMPLOYEE BENEFIT PLANS - Schedule of Pension Plan Assets Measured at Fair Value (Details) - USD ($) $ in Millions	Dec. 31, 2019	Dec. 31, 2018
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	$ 304.1	$ 271.5
NAV
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	4.9	3.7
Level 1
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	51.5	57.4
Level 2
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	243.1	200.5
Level 3
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	4.6	9.9
Equity
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	16.4	13.2
Equity \| NAV
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0.0	0.0
Equity \| Level 1
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	16.4	13.2
Equity \| Level 2
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0.0	0.0
Equity \| Level 3
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0.0	0.0
Debt Securities and other
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	16.3	17.5
Debt Securities and other \| NAV
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0.0	0.0
Debt Securities and other \| Level 1
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	3.5	4.5
Debt Securities and other \| Level 2
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	12.8	13.0
Debt Securities and other \| Level 3
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0.0	0.0
Cash and cash equivalents
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	1.5	1.3
Cash and cash equivalents \| NAV
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0.0	0.0
Cash and cash equivalents \| Level 1
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	1.5	1.3
Cash and cash equivalents \| Level 2
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0.0	0.0
Cash and cash equivalents \| Level 3
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0.0	0.0
Equity
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	70.8	95.1
Equity \| NAV
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	4.9	3.7
Equity \| Level 1
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	19.9	34.8
Equity \| Level 2
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	46.0	56.5
Equity \| Level 3
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0.0	0.0
Debt Securities and other
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	182.4	125.6
Debt Securities and other \| NAV
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0.0	0.0
Debt Securities and other \| Level 1
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	3.1	0.0
Debt Securities and other \| Level 2
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	179.2	125.6
Debt Securities and other \| Level 3
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0.0	0.0
Insurance Contracts
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	8.9	15.3
Insurance Contracts \| NAV
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0.0	0.0
Insurance Contracts \| Level 1
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0.0	0.0
Insurance Contracts \| Level 2
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	4.3	5.4
Insurance Contracts \| Level 3
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	4.6	9.9
Cash and cash equivalents
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	7.8	3.5
Cash and cash equivalents \| NAV
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0.0	0.0
Cash and cash equivalents \| Level 1
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	7.0	3.5
Cash and cash equivalents \| Level 2
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0.7	0.0
Cash and cash equivalents \| Level 3
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	$ 0.0	$ 0.0

DERIVATIVE FINANCIAL INSTRUMENTS AND HEDGING - Summary of Notional Amounts and Fair Value (Details) - USD ($) $ in Millions	Dec. 31, 2019	Dec. 31, 2018
Designated as Hedging Instrument
Derivative [Line Items]
Total	$ (8.0)	$ (2.3)
Gross Notional Amount	4,174.4	863.0
Not Designated as Hedging Instrument
Derivative [Line Items]
Total	1.4	1.3
Gross Notional Amount	412.9	834.0
Other current assets \| Designated as Hedging Instrument \| Foreign Exchange Contracts
Derivative [Line Items]
Derivative asset fair value	11.2	0.0
Gross Notional Amount	2,429.0	0.0
Other current assets \| Designated as Hedging Instrument \| Cross-currency Swaps
Derivative [Line Items]
Derivative asset fair value	0.0	0.0
Gross Notional Amount	0.0	0.0
Other current assets \| Not Designated as Hedging Instrument \| Foreign Exchange Contracts
Derivative [Line Items]
Derivative asset fair value	1.4	1.3
Gross Notional Amount	412.9	834.0
Other current assets \| Not Designated as Hedging Instrument \| Cross-currency Swaps
Derivative [Line Items]
Derivative asset fair value	0.0	0.0
Gross Notional Amount	0.0	0.0
Other current liabilities \| Designated as Hedging Instrument \| Foreign Exchange Contracts
Derivative [Line Items]
Liabilities at fair value	(9.8)	(2.3)
Gross Notional Amount	1,184.6	863.0
Other current liabilities \| Designated as Hedging Instrument \| Cross-currency Swaps
Derivative [Line Items]
Liabilities at fair value	(9.4)	0.0
Gross Notional Amount	560.8	0.0
Other current liabilities \| Not Designated as Hedging Instrument \| Foreign Exchange Contracts
Derivative [Line Items]
Liabilities at fair value	0.0	0.0
Gross Notional Amount	0.0	0.0
Other current liabilities \| Not Designated as Hedging Instrument \| Cross-currency Swaps
Derivative [Line Items]
Liabilities at fair value	0.0	0.0
Gross Notional Amount	$ 0.0	$ 0.0

INTANGIBLES - Intangible Assets Other Than Goodwill and Trademarks (Details) - USD ($) $ in Millions	Dec. 31, 2019	Dec. 31, 2018
Finite Lived Intangible Assets [Line Items]
Intangible assets, net of accumulated amortization	$ 3,480.9	$ 547.1
Intellectual property, patents, and other intangibles, net of accumulated amortization of $123.8 and $40.1
Finite Lived Intangible Assets [Line Items]
Intangible assets, net of accumulated amortization	1,108.9	13.3
Intangible assets, accumulated amortization	123.8	40.1
Backlog, net of accumulated amortization of $92.0 and $2.0
Finite Lived Intangible Assets [Line Items]
Intangible assets, net of accumulated amortization	1,342.1	2.0
Intangible assets, accumulated amortization	92.0	2.0
Customer relationships, net of accumulated amortization of $212.9 and $158.5
Finite Lived Intangible Assets [Line Items]
Intangible assets, net of accumulated amortization	1,029.9	531.8
Intangible assets, accumulated amortization	$ 212.9	$ 158.5