Westinghouse air brake technologiescorp (WAB)
CashFlow / TTM
Mar'20Dec'19Sep'19Jun'19Mar'19Dec'18Sep'18Jun'18Mar'18Dec'17Sep'17Jun'17Mar'17Dec'16Sep'16Jun'16Mar'16Dec'15Sep'15Jun'15Mar'15Dec'14Sep'14Jun'14Mar'14Dec'13Sep'13Jun'13Mar'13Dec'12Sep'12Jun'12Mar'12Dec'11Sep'11Jun'11Mar'11Dec'10Sep'10Jun'10Mar'10
Operating Activities
Net income (loss)

441,700

326,500

224,300

219,813

200,243

291,700

306,597

288,864

277,753

262,300

258,931

272,920

291,245

313,404

368,855

385,608

396,627

398,628

389,535

380,509

367,710

351,680

333,035

316,823

302,756

292,235

282,959

272,010

262,084

251,732

233,230

216,836

188,458

170,149

154,866

138,810

133,687

123,099

0

0

0

Adjustments to reconcile net income to cash provided by operations:
Depreciation and amortization

461,300

401,400

315,600

221,137

137,346

109,300

109,230

105,376

105,825

103,200

97,390

87,753

78,792

69,795

65,942

66,215

65,397

64,734

64,451

65,011

63,252

61,261

59,035

54,036

53,601

51,193

49,783

48,961

45,107

44,136

42,659

44,269

44,230

44,849

45,377

42,184

41,004

38,586

0

0

0

Stock-based compensation expense

48,800

50,000

40,900

35,249

28,104

25,300

27,261

23,404

21,304

21,300

20,564

23,019

20,995

20,813

20,715

20,703

22,766

26,019

27,119

29,020

28,190

26,134

25,618

25,120

25,254

24,107

22,437

21,018

20,363

19,848

20,431

19,196

20,272

18,646

16,769

15,495

12,693

11,765

0

0

0

Below market intangible amortization

119,800

82,200

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Loss on disposal of property, plant and equipment

-

-

-

-

-

-900

-4,267

-2,728

-1,723

-1,900

-1,714

-379

-367

-232

1,066

-545

-458

-587

-2,502

-1,126

-945

-812

-740

-834

33

15

203

1,129

-918

-1,112

-1,176

-2,567

-1,380

-1,191

-181

-692

-787

-777

0

0

0

Excess income tax benefits from exercise of stock options

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

2,964

3,127

2,692

3,020

0

0

0

-

-

-

-

3,125

0

0

0

-

3,886

4,193

1,912

2,570

0

0

0

Changes in operating assets and liabilities, net of acquisitions
Accounts receivable and unbilled accounts receivable

-22,700

6,300

-13,300

30,326

39,853

54,600

108,654

62,135

38,566

68,700

2,156

44,645

52,909

-19,728

15,981

-55,117

-37,158

-21,500

-71,065

-38,725

-23,525

17,413

71,883

138,470

187,605

149,699

118,721

39,052

18,073

22,976

59,842

90,197

80,188

68,697

68,509

33,571

35,345

34,255

0

0

0

Inventories

-157,100

-255,900

-75,300

-154,655

-17,155

108,900

81,135

76,725

27,610

9,000

10,326

-7,827

-11,795

-45,340

-38,295

-34,790

-40,088

-20,147

45,978

69,376

63,525

64,089

36,923

1,192

-20,161

-26,060

-23,133

-2,885

25,236

32,491

42,747

61,104

78,557

79,537

62,705

42,960

19,281

1,650

0

0

0

Accounts payable

-88,100

-144,300

-101,900

-82,546

-99,696

48,800

33,889

43,472

-34,914

-91,700

-96,544

-80,936

-25,620

-18,932

-39,726

-65,392

-81,721

-76,650

-66,294

-13,290

23,306

55,378

78,405

83,321

65,157

60,976

29,628

11,030

12,869

-12,483

37,709

51,307

53,619

59,974

42,172

45,732

37,716

44,294

0

0

0

Accrued income taxes

-12,100

10,700

66,200

29,501

12,296

7,900

39,742

70,423

59,416

47,600

-53,653

-37,697

-39,350

-11,759

6,728

5,468

26,938

21,740

28,372

27,489

31,814

23,763

3,354

5,430

-8,058

-15,033

-17,856

-22,048

-30,489

-33,202

9,879

11,533

27,568

31,514

-8,322

-8,621

4,136

-5,811

0

0

0

Accrued liabilities and customer deposits

-36,600

-11,900

34,100

28,343

-26,771

31,700

-83,770

-78,292

-105,732

-18,900

78,285

72,094

86,797

-11,338

-10,279

15,757

-11,201

-14,837

47,476

45,518

68,181

68,729

4,918

-8,393

-49,715

-48,831

-69,784

-43,279

-9,590

13,323

53

-21,051

40,190

43,201

80,195

69,202

-520

-10,181

0

0

0

Other assets and liabilities

-38,700

-227,100

-202,300

-129,586

-97,352

32,100

-20,262

-20,692

-47,297

-8,200

54,275

67,635

13,016

-33,475

-1,730

-28,714

19,056

16,005

10,703

48,899

43,821

23,796

33,166

23,156

3,322

16,322

-17,004

-7,583

-13,673

-10,983

-39,422

-57,806

-37,150

-48,346

11,479

21,224

8,958

4,166

0

0

0

Net cash (used for) provided by operating activities

902,300

1,015,500

844,400

690,720

321,800

314,700

200,289

270,407

239,096

188,800

230,148

222,851

348,868

450,530

442,431

553,894

482,749

450,844

497,527

445,652

489,831

472,385

380,821

328,216

229,828

235,653

208,909

251,998

268,497

237,438

262,131

213,116

233,121

248,626

200,907

217,794

180,255

176,136

0

0

0

Investing Activities
Purchase of property, plant and equipment

188,900

185,300

141,700

115,444

105,534

93,300

93,437

90,798

87,639

89,500

78,803

69,537

61,039

50,216

48,025

47,672

49,474

49,428

49,764

50,165

49,787

47,662

48,620

44,987

41,123

41,238

34,902

34,148

32,258

36,001

40,439

41,616

40,761

37,971

30,698

26,652

24,643

20,843

0

0

0

Proceeds from disposal of property, plant and equipment

9,500

3,900

5,600

5,455

4,202

11,300

9,334

9,729

8,914

1,300

1,289

669

563

363

1,570

1,771

1,730

1,784

435

382

-846

421

172

385

6,687

6,000

6,208

6,710

1,596

971

1,294

465

740

663

652

654

433

418

0

0

0

Acquisitions of businesses, net of cash acquired

321,400

2,996,400

3,002,700

2,994,475

2,727,603

51,200

147,725

136,902

179,516

945,300

945,433

1,008,525

982,984

183,113

113,797

50,705

54,047

129,550

0

0

0

-

-

-

-

223,454

0

0

0

-

-

-

-

108,874

94,379

147,664

126,934

135,830

0

0

0

Deposit in escrow

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Acquisition purchase price adjustment

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

-

0

0

0

Net cash used for investing activities

-500,800

-3,177,800

-3,152,900

-3,118,564

-2,843,035

-147,300

-231,828

-217,971

-258,241

-1,033,500

-1,022,947

-1,077,393

-1,043,460

-232,966

-154,066

-299,548

-304,733

-380,136

-359,341

-250,911

-426,783

-347,678

-349,505

-352,402

-142,819

-258,692

-298,362

-204,053

-295,647

-184,944

-198,586

-186,658

-117,883

-146,182

-126,753

-175,990

-153,477

-156,255

0

0

0

Financing Activities
Proceeds from debt

3,227,400

3,982,400

2,946,000

5,214,744

4,910,590

3,480,700

3,823,427

1,063,555

1,065,037

1,216,700

2,412,473

2,390,035

2,138,273

1,875,000

743,100

843,100

870,700

787,400

520,300

470,800

625,100

563,400

523,929

981,167

805,167

959,067

890,938

305,800

359,200

233,400

344,000

350,400

290,100

257,000

171,000

161,000

182,400

248,400

0

0

0

Payments of debt

3,249,700

3,423,600

2,052,000

2,459,727

2,025,353

1,454,000

1,817,181

1,135,749

1,053,256

1,269,500

1,805,817

1,607,394

1,499,886

1,102,748

368,222

493,590

486,286

612,680

591,162

571,710

655,599

493,819

543,448

880,796

775,681

829,842

786,824

352,066

327,586

311,457

317,274

303,520

304,293

283,202

174,665

172,670

201,758

218,083

0

0

0

Repurchase of stock

0

-

-

-

0

-

-

-

-

-

-

-

-

212,176

577,627

521,525

521,525

387,787

22,336

10,135

24,606

26,757

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

8,381

0

0

0

Proceeds from exercise of stock options and other benefit plans

-

-

-

-

-

10,000

14,612

8,588

6,014

4,400

3,098

4,011

2,727

1,983

2,162

2,339

3,215

3,097

3,001

2,902

2,855

3,337

3,473

4,360

4,455

5,165

6,146

5,615

5,014

4,431

3,343

2,196

4,721

4,899

4,786

4,777

2,844

3,256

0

0

0

Payment of income tax withholding on share-based compensation

-

-

-

-

-

12,300

6,702

6,501

2,895

6,800

4,450

4,454

4,494

6,658

9,006

9,006

9,006

14,565

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Excess income tax benefits from exercise of equity options

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

2,964

3,127

2,692

3,020

-2,440

1,385

3,616

4,266

10,052

6,562

3,710

3,125

3,244

1,451

4,406

4,415

3,886

4,193

1,912

2,570

0

0

0

Earn-out settlement

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

4,429

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Cash dividends

93,000

81,700

69,800

57,467

46,469

46,300

46,207

46,119

44,159

42,200

39,600

37,042

34,647

32,430

31,171

29,948

28,538

26,963

25,090

23,135

21,198

19,246

17,315

15,539

14,086

12,644

11,210

9,582

8,614

7,666

6,698

5,764

4,806

3,849

2,892

1,930

1,927

1,914

0

0

0

Other financing activities

0

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net cash provided by financing activities

-238,000

461,500

799,900

2,681,444

2,832,432

1,978,100

1,967,949

-116,226

-29,259

-97,400

565,258

666,718

523,535

522,971

-243,001

-210,018

-171,754

-251,498

-126,888

-142,716

-85,321

25,506

-94,499

36,528

-16,107

93,014

85,057

-68,300

-14,832

-124,723

-3,601

3,001

-35,894

-46,759

-21,688

-12,887

-21,814

25,848

0

0

0

Effect of changes in currency exchange rates

-60,400

-37,300

-39,400

-37,856

-48,282

-36,600

-29,058

-19,127

18,142

32,300

2,297

10,469

-14,480

-26,436

-3,223

-6,237

7,377

-18,868

-15,598

-13,088

-23,695

-10,124

-5,283

-940

-1,137

19

3,348

755

-1,984

2,380

975

-16,829

-10,727

-7,011

-8,138

26,049

16,823

2,553

0

0

0

Increase (decrease) in cash

103,100

-1,738,100

-1,548,000

215,744

262,915

2,108,900

1,907,352

-82,917

-30,262

-909,800

-225,244

-177,355

-185,537

714,099

42,141

38,091

13,639

-199,658

-4,300

38,937

-45,968

140,089

-68,466

11,402

69,765

69,994

-1,048

-19,600

-43,966

-69,849

60,919

12,630

68,617

48,674

44,328

54,966

21,787

48,282

0

0

0