WESTINGHOUSE AIR BRAKE TECHNOLOGIESCORP WAB Income Statement

Westinghouse air brake technologiescorp (WAB)

Income statement / Quarterly

Mar'20	Dec'19	Sep'19	Jun'19	Mar'19	Dec'18	Sep'18	Jun'18	Mar'18	Dec'17	Sep'17	Jun'17	Mar'17	Dec'16	Sep'16	Jun'16	Mar'16	Dec'15	Sep'15	Jun'15	Mar'15	Dec'14	Sep'14	Jun'14	Mar'14	Dec'13	Sep'13	Jun'13	Mar'13	Dec'12	Sep'12	Jun'12	Mar'12	Dec'11	Sep'11	Jun'11	Mar'11	Dec'10	Sep'10	Jun'10	Mar'10	Sep'09	Jun'09
Net sales:
Total net sales
1,929,900	2,368,416	2,001,700	2,236,284	1,593,600	1,117,843	1,077,800	1,111,680	1,056,177	1,075,482	957,931	932,253	916,034	759,982	675,574	723,601	772,031	832,849	809,527	847,028	818,594	820,866	797,271	731,068	695,249	681,482	631,398	638,002	615,510	610,400	587,593	609,820	583,309	534,639	498,840	478,899	455,259	393,241	375,707	374,137	363,927	330,455	334,013
Cost of sales
Cost of sales:
Total cost of sales
1,351,200	1,693,492	1,402,300	1,621,608	1,204,600	820,791	775,800	787,713	745,296	807,055	704,728	658,290	646,327	540,793	463,093	486,212	516,851	565,221	552,458	579,264	563,239	566,569	549,813	506,410	485,680	481,357	443,265	445,121	432,622	429,920	416,314	436,393	413,928	387,305	351,689	336,155	322,064	275,253	266,470	260,673	255,538	235,629	242,350
Gross profit
578,700	674,924	599,400	614,676	389,000	297,052	302,000	323,967	310,881	268,427	253,203	273,963	269,707	219,189	212,481	237,389	255,180	267,628	257,069	267,764	255,355	254,297	247,458	224,658	209,569	200,125	188,133	192,881	182,888	180,480	171,279	173,427	169,381	147,334	147,151	142,744	133,195	117,988	109,237	113,464	108,389	94,826	91,663
Operating expenses:
Selling, general and administrative expenses
243,400	323,641	292,200	290,959	259,800	168,042	146,800	171,157	147,201	143,712	118,183	127,918	122,687	132,441	70,757	80,610	89,751	91,404	82,206	88,992	84,771	93,117	88,359	72,982	70,081	71,142	63,402	63,874	64,300	64,774	59,743	59,163	62,029	61,099	57,676	73,943	54,816	53,414	46,604	51,243	44,631	37,162	42,112
Engineering expenses
49,000	59,680	58,600	57,120	34,500	25,963	20,100	19,388	22,049	23,689	24,709	23,338	23,464	19,129	16,289	18,029	17,953	19,361	17,239	17,750	16,863	18,328	16,391	14,221	12,946	12,765	10,921	11,280	11,334	10,260	10,753	10,145	10,149	9,279	9,894	9,132	8,888	9,721	9,362	10,425	10,695	10,157	10,765
Amortization expense
69,000	65,500	79,500	66,000	27,400	9,600	9,900	9,900	10,400	9,505	8,645	9,350	9,000	6,598	5,339	5,466	5,295	5,654	5,546	5,162	5,301	5,889	6,731	5,132	4,696	5,001	3,939	5,173	3,587	4,984	3,941	3,254	3,093	4,447	4,128	3,307	3,114	3,504	2,638	2,144	1,887	1,748	2,059
Total operating expenses
361,400	448,861	430,300	414,039	321,700	203,654	176,800	200,444	179,602	176,862	151,537	160,606	155,195	158,143	92,385	104,105	112,999	116,419	104,991	111,904	106,935	117,334	111,481	92,335	87,723	88,907	78,262	80,327	79,221	80,018	74,437	72,562	75,271	74,825	71,698	86,382	66,818	66,639	58,604	63,812	57,213	49,067	54,936
Income from operations
217,300	226,063	169,100	200,637	67,300	93,398	125,200	123,523	131,279	91,565	101,666	113,357	114,512	61,046	120,096	133,284	142,181	151,209	152,078	155,860	148,420	136,963	135,977	132,323	121,846	111,218	109,871	112,554	103,667	100,462	96,842	100,865	94,110	72,509	75,453	56,362	66,377	51,349	50,633	49,652	51,176	45,759	36,727
Other income and expenses:
Interest expense, net
-53,300	-58,240	-57,700	-58,560	-44,600	-36,296	-23,700	-31,920	-20,284	-20,440	-20,038	-17,564	-19,858	-34,401	-6,057	-4,969	-4,871	-4,190	-4,351	-4,041	-4,306	-4,005	-4,594	-4,525	-4,450	-4,627	-3,829	-3,271	-3,614	-3,948	-3,070	-3,509	-3,724	-3,766	-3,764	-3,793	-3,684	-3,923	-3,996	-4,092	-3,912	-3,687	-3,525
Other expense, net
-14,800	6,923	1,900	2,177	-8,200	443	1,200	2,171	2,586	3,596	-443	936	4,811	6,415	1,188	-1,229	154	2,379	-2,937	-1,887	-2,866	-1,752	-154	243	-17	951	-1,658	406	-581	614	-1,393	223	-114	1,099	-1,529	-410	460	366	-791	1,086	-721	394	-134
Income from operations before income taxes
149,200	174,746	113,300	144,254	14,500	57,545	102,700	93,774	113,581	74,721	81,185	96,729	99,465	33,060	115,227	127,086	137,464	149,398	144,790	149,932	141,248	131,206	131,229	128,041	117,379	107,542	104,384	109,689	99,472	97,128	92,379	97,579	90,272	69,842	70,160	52,159	63,153	47,792	45,846	46,646	46,543	42,466	33,068
Income tax expense
38,000	37,700	22,700	41,400	18,500	22,673	16,600	10,503	26,124	25,024	12,746	24,569	27,461	-13,268	32,799	36,601	43,301	47,619	45,609	48,428	45,084	38,520	41,074	39,336	37,245	33,501	30,441	35,051	29,859	32,363	29,385	32,867	31,011	23,579	23,560	15,825	22,201	16,812	15,302	15,435	16,179	15,118	2,232
Net income (loss)
111,200	137,046	90,600	102,854	-4,000	34,872	86,100	83,271	87,457	49,697	68,439	72,160	72,004	46,328	82,428	90,485	94,163	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Less: Net loss (gain) attributable to noncontrolling interest
-400	1,181	-500	-1,381	500	454	-1,600	-1,145	-909	725	1,040	135	-1,900	8,500	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net income (loss) attributable to Wabtec shareholders
111,600	135,865	91,100	104,235	-4,500	34,418	87,700	84,416	88,366	48,987	67,399	72,025	73,889	37,811	82,428	90,485	94,163	101,779	99,181	101,504	96,164	92,686	90,155	88,705	80,134	74,041	73,943	74,638	69,613	64,765	62,994	64,712	59,261	46,263	46,600	36,334	40,952	30,980	30,544	31,211	30,364	27,348	30,836
Earnings Per Common Share
Basic
Net income (loss) attributable to Wabtec shareholders (in dollars per share)
0.58	0.89	0.48	0.58	-0.04	0.35	0.91	0.88	0.92	0.52	0.70	0.75	0.77	0.42	0.92	1.00	1.03	1.06	1.03	1.05	1.00	0.96	0.94	0.92	0.84	0.77	0.77	0.78	0.73	0.05	0.66	0.67	1.24	-0.80	0.97	0.75	0.85	0.64	0.64	0.65	0.64	0.58	0.65
Diluted
Net income (loss) attributable to Wabtec shareholders (in dollars per share)
0.58	0.86	0.48	0.54	-0.04	0.35	0.91	0.87	0.92	0.50	0.70	0.75	0.77	0.41	0.91	1.00	1.02	1.05	1.02	1.04	0.99	0.95	0.93	0.91	0.83	0.76	0.76	0.77	0.72	0.06	0.65	0.67	1.22	-0.80	0.96	0.75	0.85	0.65	0.63	0.65	0.63	0.57	0.64
Weighted average shares outstanding
Basic (in shares)
190,800	193,852	189,600	177,348	121,200	95,998	96,200	95,992	95,810	95,407	95,709	95,641	95,243	90,743	89,589	89,846	91,258	95,346	96,369	96,338	96,243	95,612	95,935	96,048	95,529	95,217	95,848	95,762	95,025	143,212	95,286	95,671	47,707	238,994	47,874	47,950	47,738	47,525	47,677	47,725	47,461	47,289	47,487
Diluted (in shares)
191,400	205,047	191,500	191,453	121,200	96,454	96,600	96,575	96,371	95,809	96,316	96,284	95,991	91,563	90,293	90,559	92,149	95,836	97,368	97,435	97,385	96,673	97,004	97,058	96,805	96,480	97,174	97,102	96,572	145,241	96,542	96,844	48,341	241,548	48,366	48,463	48,251	47,972	48,064	48,089	47,895	47,752	48,013
Goods
Total net sales
1,590,800	1,975,492	1,605,400	1,892,508	1,434,500	1,069,730	1,031,700	1,065,893	1,010,677	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Total cost of sales
1,155,900	1,492,942	1,184,100	1,377,758	1,073,600	779,325	735,800	749,097	709,278	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Services
Total net sales
339,100	392,924	396,300	343,776	159,100	48,113	46,100	45,787	45,500	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Total cost of sales
195,300	200,550	218,200	243,850	131,000	41,466	40,000	38,616	36,018	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-