Westinghouse Air Brake Technologies (WAB) 10-Q 31 Jul 14 2014 Q2 Quarterly report Financial data

Document_and_Entity_Informatio

Document and Entity Information	6 Months Ended
	Jun. 30, 2014	Jul. 28, 2014
Entity Information [Line Items]	'	'
Document Type	'10-Q	'
Amendment Flag	'false	'
Document Period End Date	30-Jun-14	'
Document Fiscal Year Focus	'2014	'
Document Fiscal Period Focus	'Q2	'
Trading Symbol	'WAB	'
Entity Registrant Name	'WESTINGHOUSE AIR BRAKE TECHNOLOGIES CORP	'
Entity Central Index Key	'0000943452	'
Current Fiscal Year End Date	'--12-31	'
Entity Filer Category	'Large Accelerated Filer	'
Entity Common Stock, Shares Outstanding	'	96,311,343

CONDENSED_CONSOLIDATED_BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS (USD $)	Jun. 30, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified
Current Assets	'	'
Cash and cash equivalents	$225,907	$285,760
Accounts receivable	465,092	349,458
Unbilled accounts receivable	251,958	205,045
Inventories	481,507	403,229
Deferred income taxes	52,517	50,622
Other	49,870	38,933
Total current assets	1,526,851	1,333,047
Property, plant and equipment	679,517	597,740
Accumulated depreciation	-336,363	-321,662
Property, plant and equipment, net	343,154	276,078
Other Assets	'	'
Goodwill	821,572	786,433
Other intangibles, net	435,429	385,679
Other noncurrent assets	36,862	40,760
Total other assets	1,293,863	1,212,872
Total Assets	3,163,868	2,821,997
Current Liabilities	'	'
Accounts payable	397,371	326,666
Customer deposits	72,369	66,573
Accrued compensation	56,374	57,058
Accrued warranty	51,557	43,197
Current portion of long-term debt	681	421
Other accrued liabilities	90,064	85,485
Total current liabilities	668,416	579,400
Long-term debt	500,219	450,288
Accrued postretirement and pension benefits	47,973	50,003
Deferred income taxes	135,565	114,486
Accrued warranty	19,562	17,396
Other long-term liabilities	26,441	23,257
Total liabilities	1,398,176	1,234,830
Shareholders’ Equity	'	'
Preferred stock, 1,000,000 shares authorized, no shares issued	'	'
Common stock, $.01 par value; 200,000,000 shares authorized: 132,349,534 shares issued and 96,309,478 and 95,909,948 outstanding at June 30, 2014 and December 31, 2013, respectively	1,323	1,323
Additional paid-in capital	434,198	415,059
Treasury stock, at cost, 36,040,056 and 36,439,586 shares, at June 30, 2014 and December 31, 2013, respectively	-383,095	-372,969
Retained earnings	1,737,850	1,576,702
Accumulated other comprehensive loss	-25,960	-34,856
Total Westinghouse Air Brake Technologies Corporation shareholders' equity	1,764,316	1,585,259
Non-controlling interest (minority interest)	1,376	1,908
Total shareholders’ equity	1,765,692	1,587,167
Total Liabilities and Shareholders’ Equity	$3,163,868	$2,821,997

CONDENSED_CONSOLIDATED_BALANCE1

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) (USD $)	Jun. 30, 2014	Dec. 31, 2013
Preferred stock, shares authorized	1,000,000	1,000,000
Preferred stock, shares issued	0	0
Common stock, par value	$0.01	$0.01
Common stock, shares authorized	200,000,000	200,000,000
Common stock, shares issued	132,349,534	132,349,534
Common stock, shares outstanding	96,309,478	95,909,948
Treasury stock, shares	36,040,056	36,439,586

CONDENSED_CONSOLIDATED_STATEME

CONDENSED CONSOLIDATED STATEMENTS OF INCOME (USD $)	3 Months Ended		6 Months Ended
In Thousands, except Per Share data, unless otherwise specified	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013
Net sales	$731,068	$638,002	$1,426,317	$1,253,512
Cost of sales	-506,410	-445,121	-992,090	-877,743
Gross profit	224,658	192,881	434,227	375,769
Selling, general and administrative expenses	-72,982	-63,874	-143,063	-128,174
Engineering expenses	-14,221	-11,280	-27,167	-22,614
Amortization expense	-5,132	-5,173	-9,828	-8,760
Total operating expenses	-92,335	-80,327	-180,058	-159,548
Income from operations	132,323	112,554	254,169	216,221
Other income and expenses	'	'	'	'
Interest expense, net	-4,525	-3,271	-8,975	-6,885
Other income (expense), net	243	406	226	-175
Income from operations before income taxes	128,041	109,689	245,420	209,161
Income tax expense	-39,336	-35,051	-76,581	-64,910
Net income attributable to Wabtec shareholders	$88,705	$74,638	$168,839	$144,251
Basic	'	'	'	'
Net income attributable to Wabtec shareholders	$0.92	$0.78	$1.76	$1.51
Diluted	'	'	'	'
Net income attributable to Wabtec shareholders	$0.91	$0.77	$1.74	$1.49
Weighted average shares outstanding	'	'	'	'
Basic	96,048	95,762	95,674	95,243
Diluted	97,058	97,102	96,827	96,606

CONDENSED_CONSOLIDATED_STATEME1

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (USD $)	3 Months Ended		6 Months Ended
In Thousands, unless otherwise specified	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013
Net income attributable to Wabtec shareholders	$88,705	$74,638	$168,839	$144,251
Foreign currency translation gain (loss)	8,731	-9,037	8,088	-36,978
Unrealized (loss) gain on derivative contracts	-876	1,067	-593	1,010
Pension benefit plans and post-retirement benefit plans	-26	2,303	1,782	5,405
Other comprehensive income (loss) before tax	7,829	-5,667	9,277	-30,563
Income tax benefit (expense) related to components of other comprehensive income (loss)	274	-1,142	-381	-1,986
Other comprehensive income (loss), net of tax	8,103	-6,809	8,896	-32,549
Comprehensive income attributable to Wabtec shareholders	$96,808	$67,829	$177,735	$111,702

CONDENSED_CONSOLIDATED_STATEME2

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)	6 Months Ended
In Thousands, unless otherwise specified	Jun. 30, 2014	Jun. 30, 2013
Operating Activities	'	'
Net income attributable to Wabtec shareholders	$168,839	$144,251
Adjustments to reconcile net income to cash provided by operations:	'	'
Depreciation and amortization	27,862	25,019
Stock-based compensation expense	12,103	11,090
Loss (gain) on disposal of property, plant and equipment	106	-743
Excess income tax benefits from exercise of stock options	-1,281	-4,162
Changes in operating assets and liabilities, net of acquisitions	'	'
Accounts receivable and unbilled accounts receivable	-91,926	-103,155
Inventories	-20,249	7,003
Accounts payable	43,653	21,308
Accrued income taxes	15,459	-5,004
Accrued liabilities and customer deposits	-3,878	-44,316
Other assets and liabilities	-13,029	-6,195
Net cash provided by operating activities	137,659	45,096
Investing Activities	'	'
Purchase of property, plant and equipment	-18,357	-14,608
Proceeds from disposal of property, plant and equipment	217	5,832
Acquisitions of businesses, net of cash acquired	-199,417	-115,071
Net cash used for investing activities	-217,557	-123,847
Financing Activities	'	'
Proceeds from debt	266,900	244,800
Payments of debt	-216,698	-165,744
Purchase of treasury stock	-16,622	'
Proceeds from exercise of stock options and other benefit plan	1,844	2,649
Excess income tax benefits from exercise of stock options	1,281	4,162
Earn-out settlement	-4,429	'
Cash dividends ($0.04 and $0.025 per share for the six months ended June 30, 2014 and 2013	-7,691	-4,796
Net cash provided by financing activities	24,585	81,071
Effect of changes in currency exchange rates	-4,540	-3,581
Decrease in cash	-59,853	-1,261
Cash, beginning of year	285,760	215,766
Cash, end of period	$225,907	$214,505

CONDENSED_CONSOLIDATED_STATEME3

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Parenthetical) (USD $)	6 Months Ended
	Jun. 30, 2014	Jun. 30, 2013
Cash dividends, per share	$0.04	$0.03

Business

Business	6 Months Ended
	Jun. 30, 2014
Business	'
	1. BUSINESS
	Westinghouse Air Brake Technologies Corporation (“Wabtec”) is one of the world’s largest providers of value-added, technology-based products and services for the global rail industry. Our products are found on virtually all U.S. locomotives, freight cars and passenger transit vehicles, as well as in more than 100 countries throughout 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 19 countries. In the first six months of 2014, about 46% of the Company’s revenues came from customers outside the U.S.

Accounting_Policies

Accounting Policies	6 Months Ended
	Jun. 30, 2014
Accounting Policies	'
	2. ACCOUNTING POLICIES
	Basis of Presentation The unaudited condensed consolidated interim financial statements have been prepared in accordance with generally accepted accounting principles and the rules and regulations of the Securities and Exchange Commission and include the accounts of Wabtec and its majority owned subsidiaries. These condensed consolidated interim financial statements do not include all of the information and footnotes required for complete financial statements. In management’s opinion, these financial statements reflect all adjustments of a normal, recurring nature necessary for a fair presentation of the results for the interim periods presented. Results for these interim periods are not necessarily indicative of results to be expected for the full year.
	The Company operates on a four-four-five week accounting quarter, and the quarters’ end on or about March 31, June 30, September 30 and December 31.
	The notes included herein should be read in conjunction with the audited consolidated financial statements included in Wabtec’s Annual Report on Form 10-K for the year ended December 31, 2013. The December 31, 2013 information has been derived from the Company’s Annual Report on Form 10-K for the year ended December 31, 2013.
	Capital Structure On May 14, 2013, our stockholders approved an amendment to our Amended and Restated Certificate of Incorporation to increase the number of authorized shares of our common stock to 200.0 million shares.  In addition, on May 14, 2013, our Board of Directors approved a two-for-one split of the Company’s issued and outstanding common stock in the form of a 100% stock dividend.  The increase in the authorized shares and the stock split became effective on May 14, 2013 and June 11, 2013, respectively.
	The Company issued approximately 66.2 million shares of its common stock as a result of the two-for-one stock split. The par value of the Company’s common stock remained unchanged at $0.01 per share.
	Information regarding shares of common stock (except par value per share), retained earnings, and net income per common share attributable to Wabtec shareholders for all periods presented reflects the two-for-one split of the Company’s common stock. The number of shares of the Company’s common stock issuable upon exercise of outstanding stock options and vesting of other stock-based awards was proportionally increased, and the exercise price per share thereof was proportionally decreased, in accordance with the terms of the stock incentive plans.
	Reclassifications Certain prior year footnote amounts have been reclassified where necessary to conform to the current year presentation.
	Revenue Recognition Revenue is recognized in accordance with Accounting Standards Codification (“ASC”) 605 “Revenue Recognition”. Revenue is recognized when products have been shipped to the respective customers, title has passed and the price for the product has been determined.
	In general, the Company recognizes revenues on long-term contracts based on the percentage of completion method of accounting. The units-of-delivery method or other input-based or output-based measures, as appropriate, are used to measure the progress toward completion of individual contracts. Contract revenues and cost estimates are reviewed and revised at a minimum quarterly and adjustments are reflected in the accounting period as such amounts are determined. Provisions are made currently for estimated losses on uncompleted contracts. Unbilled accounts receivables were $252.0 million and $205.0 million, customer deposits were $72.4 million and $66.6 million, and provisions for loss contracts were $7.2 million and $14.0 million at June 30, 2014 and December 31, 2013, respectively.
	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 $19.5 million and $19.2 million at June 30, 2014 and December 31, 2013, respectively.
	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 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.
	Financial Derivatives and Hedging Activities The Company periodically enters into foreign currency forward contracts to reduce the impact of changes in currency exchange rates. Forward contracts are agreements with a counter-party 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. At June 30, 2014, the Company had no material foreign currency forward contracts.
	To reduce the impact of interest rate changes on a portion of its variable-rate debt, the Company has entered into two forward starting interest rate swap agreements with notional values of $150.0 million. As of June 30, 2014, the Company has recorded a current liability of $3.5 million and a corresponding offset in accumulated other comprehensive loss of $2.1 million, net of tax, related to this agreement. For further information regarding the forward starting interest rate swap agreements, see Footnote 6.
	Foreign Currency Translation Assets and liabilities of foreign subsidiaries, except for the Company’s Mexican operations whose functional currency is the U.S. Dollar, 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 year. 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.
	Non-controlling Interests In accordance with ASC 810, the Company has classified non-controlling interests as equity on our condensed consolidated balance sheets as of June 30, 2014 and December 31, 2013. Net income attributable to non-controlling interests for the three and six months ended June 30, 2014 and 2013 was not material.
	Other Comprehensive Income Comprehensive income is defined as net income and all other non-owner changes in shareholders’ equity.
	The changes in accumulated other comprehensive loss by component, net of tax, for the six months ended June 30, 2014 are as follows:
								Pension and
		Foreign						post
		currency			Derivative			retirement
	In thousands	translation			contracts			benefits plans			Total
	Balance at December 31, 2013	$	17,326		$	(2,010	)	$	(50,172	)	$	(34,856	)
	Other comprehensive income (loss) before reclassifications		8,088			(1,234	)		(268	)		6,586
	Amounts reclassified from accumulated other
	comprehensive income		-			829			1,481			2,310
	Net current period other comprehensive income (loss)		8,088			(405	)		1,213			8,896
	Balance at June 30, 2014	$	25,414		$	(2,415	)	$	(48,959	)	$	(25,960	)
	Reclassifications out of accumulated other comprehensive loss for the three months ended June 30, 2014 are as follows:
		Amount reclassified from			Affected line item in the
		accumulated other			Condensed Consolidated
	In thousands	comprehensive income			Statements of Operations
	Amortization of defined pension and post retirement items
	Amortization of initial net obligation and prior service cost	$	(614	)	Cost of sales
	Amortization of net loss		1,696		Cost of sales
			1,082		Income from Operations
			(338	)	Income tax expense
		$	744		Net income
	Derivative contracts
	Realized loss on derivative contracts	$	634		Interest expense, net
			(198	)	Income tax expense
		$	436		Net income
	Reclassifications out of accumulated other comprehensive loss for the six months ended June 30, 2014 are as follows:
		Amount reclassified from			Affected line item in the
		accumulated other			Condensed Consolidated
	In thousands	comprehensive income			Statements of Operations
	Amortization of defined pension and post retirement items
	Amortization of initial net obligation and prior service cost	$	(1,230	)	Cost of sales
	Amortization of net loss		3,383		Cost of sales
			2,153		Income from Operations
			(672	)	Income tax expense
		$	1,481		Net income
	Derivative contracts
	Realized loss on derivative contracts	$	1,205		Interest expense, net
			(376	)	Income tax expense
		$	829		Net income

Acquisitions

Acquisitions	6 Months Ended
	Jun. 30, 2014
Acquisitions	'
	3. ACQUISITIONS
	The Company has made the following acquisitions operating as a business unit or component of a business unit in the Freight Segment:
	—	On September 24, 2013, the Company acquired Longwood Industries, Inc (“Longwood”), a manufacturer of specialty rubber products for transportation, oil and gas, and industrial markets, for a net purchase price of approximately $83.9 million, net of cash acquired, resulting in preliminary goodwill of $31.5 million, none of which will be deductible for tax purposes.
	—	On July 30, 2013, the Company acquired Turbonetics Holdings, Inc (“Turbonetics”), a manufacturer of turbochargers and related components for various industrial markets, for a net purchase price of approximately $23.2 million, net of cash acquired, resulting in preliminary goodwill of $7.0 million, none of which will be deductible for tax purposes.
	—	On February 26, 2013, the Company acquired Transdyne (“Transdyne”), a distributor of wear-protection components and other hardware used primarily on railroad freight cars, for a net purchase price of approximately $2.4 million, net of cash acquired, resulting in additional goodwill of $0.5 million, which will be deductible for tax purposes.
	—	On January 31, 2013, the Company acquired Napier Turbochargers Ltd. (“Napier”), a UK-based provider of turbochargers and related parts for the worldwide power generation and marine markets, for a net purchase price of approximately $112.3 million, net of cash acquired, resulting in additional goodwill of $67.0 million, none of which will be deductible for tax purposes.
	The acquisitions listed above include escrow deposits of $8.9 million, which act as security for indemnity and other claims in accordance with the purchase and related escrow agreements.
	·	On June 6, 2014, the Company acquired Fandstan Electric Group Ltd. (“Fandstan”), a leading rail and industrial equipment manufacturer for a variety of markets, including rail and tram transportation, industrial and energy, for a net purchase price of approximately $199.4 million, net of cash acquired, resulting in additional goodwill of $32.9 million, none of which will be deductible for tax purposes.  At June 30, 2014 the values related to the Fandstan trade names, which are anticipated to have indefinite useful lives, are included in the value of goodwill as the preliminary valuation work related to trade names was not yet complete.   Fandstan will primarily operate as a business unit or component of a business unit in the Transit Segment.
	For the Fandstan, Longwood and Turbonetics acquisitions, the following table summarizes the preliminary estimated fair values of the assets acquired and liabilities assumed at the date of the acquisition.  For the Transdyne and Napier acquisition, the following table summarizes the final fair values of the assets acquired and liabilities assumed at the date of acquisition.
		Fandstan			Longwood			Turbonetics			Transdyne			Napier
		June 6,			September 24,			July 30,			February 26,			January 31,
	In thousands	2014			2013			2013			2013			2013
	Current assets	$	127,561		$	18,162		$	5,562		$	1,062		$	13,441
	Property, plant & equipment		61,413			19,472			996			83			8,837
	Goodwill		32,907			31,517			6,995			485			67,045
	Other intangible assets		57,976			39,440			11,140			1,000			40,583
	Other assets		141			7			-			-			-
	Total assets acquired		279,998			108,598			24,693			2,630			129,906
	Total liabilities assumed		(80,581	)		(24,735	)		(1,510	)		(228	)		(17,565	)
	Net assets acquired	$	199,417		$	83,863		$	23,183		$	2,402		$	112,341
	Of the $150.1 million of total acquired intangible assets, $111.3 million was assigned to customer relationships, $24.0 million was assigned to trade names, $5.4 million was assigned to patents, $0.8 million was assigned to favorable leasehold interest and $8.6 million was assigned to customer backlog. The trade names were determined to have an indefinite useful life, while the customer relationships’ average useful life is 20 years, the patents’ useful life is 11 years and the favorable leasehold interest useful life is five years.
	The following unaudited pro forma financial information presents income statement results as if the acquisitions listed above had occurred on January 1, 2013:
			Three Months Ended			Three Months Ended			Six Months Ended			Six Months Ended
	In thousands		30-Jun-14			30-Jun-13			30-Jun-14			30-Jun-13
	Net sales		$	777,735		$	719,974		$	1,538,249		$	1,416,557
	Gross profit			241,606			218,747			470,115			423,099
	Net income attributable to Wabtec shareholders			92,481			81,957			174,097			155,617
	Diluted earnings per share
	As Reported		$	0.91		$	0.77		$	1.74		$	1.49
	Pro forma		$	0.95		$	0.84		$	1.8		$	1.61

Inventories

Inventories	6 Months Ended
	Jun. 30, 2014
Inventories	'
	4. INVENTORIES
	The components of inventory, net of reserves, were:
		June 30,		December 31,
	In thousands	2014		2013
	Raw materials	$	178,486	$	165,906
	Work-in-progress		167,244		137,449
	Finished goods		135,777		99,874
	Total inventories	$	481,507	$	403,229

Intangibles

Intangibles	6 Months Ended
	Jun. 30, 2014
Intangibles	'
	5. INTANGIBLES
	The change in the carrying amount of goodwill by segment for the six months ended June 30, 2014 is as follows:
		Freight			Transit
	In thousands	Segment			Segment		Total
	Balance at December 31, 2013	$	509,664		$	276,769	$	786,433
	Adjustment to preliminary purchase allocation		(2,479	)		-		(2,479	)
	Acquisition		-			32,907		32,907
	Foreign currency impact		3,415			1,297		4,712
	Balance at June 30, 2014		510,599			310,973		821,572
	As of June 30, 2014 and December 31, 2013, the Company’s trademarks had a net carrying amount of $157.1 million and $156.8 million, respectively, and the Company believes these intangibles have an indefinite life.
	Intangible assets of the Company, other than goodwill and trademarks, consist of the following:
		June 30,			December 31,
	In thousands	2014			2013
	Patents, non-compete and other intangibles, net of accumulated
	amortization of $39,302 and $37,824	$	19,753		$	15,561
	Customer relationships, net of accumulated amortization
	of $51,343 and $44,910		258,536			213,324
	Total	$	278,289		$	228,885
	The weighted average remaining useful life of patents, customer relationships and intellectual property were ten years, 17 years and 15 years, respectively. Amortization expense for intangible assets was $5.1 million and $9.8 million for the three and six months ended June 30, 2014, respectively, and $5.2 million and $8.8 million for the three and six months ended June 30, 2013, respectively.
	Amortization expense for the five succeeding years is estimated to be as follows (in thousands):
	Remainder of 2014	$	13,657
	2015		21,055
	2016		18,544
	2017		17,636
	2018		17,000

Longterm_Debt

Long-term Debt	6 Months Ended
	Jun. 30, 2014
Long-term Debt	'
	6. LONG-TERM DEBT
	Long-term debt consisted of the following:
		June 30,		December 31,
	In thousands	2014		2013
	4.375% Senior Notes, due 2023	$	250,000	$	250,000
	Revolving Credit Facility		250,000		200,000
	Capital Leases		900		709
	Total		500,900		450,709
	Less - current portion		681		421
	Long-term portion	$	500,219	$	450,288
	2013 Refinancing Credit Agreement
	On December 19, 2013, the Company amended its existing revolving credit facility with a consortium of commercial banks. This “2013 Refinancing Credit Agreement” provides the Company with an $800 million, five-year revolving credit facility. The Company incurred approximately $1.0 million of deferred financing cost related to the 2013 Refinancing Credit Agreement. The facility expires on December 19, 2018. The 2013 Refinancing Credit Agreement borrowings bear variable interest rates indexed as described below. At June 30, 2014, the Company had available bank borrowing capacity, net of $18.1 million of letters of credit, of approximately $531.9 million, subject to certain financial covenant restrictions.
	Under the 2013 Refinancing Credit Agreement, the Company may elect a Base Rate of interest for U.S. Dollar denominated loans or, for certain currencies,  an interest rate based on the London Interbank Offered Rate (“LIBOR”) of interest, or other rates appropriate for such currencies  (in any case, “the Alternate Rate”). The Base Rate adjusts on a daily basis and is the greater of the Federal Funds Effective Rate plus 0.5% per annum, the PNC, N.A. prime rate or the Daily LIBOR Rate plus 100 basis points, plus a margin that ranges from 0 to 75 basis points. The Alternate Rate is based on the quoted rates specific to the applicable currency, plus a margin that ranges from 75 to 175 basis points. Both the Base Rate and Alternate Rate margins are dependent on the Company’s consolidated total indebtedness to cash flow ratios. The initial Base Rate margin is 0 basis points and the Alternate Rate margin is 75 basis points.
	At June 30, 2014 the weighted average interest rate on the Company’s variable rate debt was 0.91%.  On January 12, 2012, the Company entered into a forward starting interest rate swap agreement with a notional value of $150 million. The effective date of the interest rate swap agreement is July 31, 2013, and the termination date is November 7, 2016. The impact of the interest rate swap agreement converts a portion of the Company’s outstanding debt from a variable rate to a fixed-rate borrowing. During the term of the interest rate swap agreement the interest rate on the notional value will be fixed at 1.415% plus the Alternate Rate margin. The Company is exposed to credit risk in the event of nonperformance by the counterparty. However, since only the cash interest payments are exchanged, exposure is significantly less than the notional amount. The counterparty is a large financial institution with an excellent credit rating and history of performance. The Company currently believes the risk of nonperformance is negligible.
	On June 5, 2014, the Company entered into a forward starting interest rate swap agreement with a notional value of $150.0 million.  The effective date of the interest rate swap agreement is November 7, 2016, and the termination date is December 19, 2018.  The impact of the interest rate swap agreement converts a portion of the Company’s outstanding debt from a variable rate to a fixed-rate borrowing.  During the term of the interest rate swap agreement the interest rate on the notional value will be fixed at 2.56% plus the Alternate Rate margin.  The Company is exposed to credit risk in the event of nonperformance by the counterparty.  However, since only the cash interest payments are exchanged, exposure is significantly less than the notional amount.  The counterparty is a large financial institution with an excellent credit rating and history of performance.  The Company currently believes the risk of nonperformance is negligible.
	The 2013 Refinancing Credit Agreement limits the Company’s ability to declare or pay cash dividends and prohibits the Company from declaring or making other distributions, subject to certain exceptions. The 2013 Refinancing Credit Agreement contains various other covenants and restrictions including the following limitations: incurrence of additional indebtedness; mergers, consolidations, sales of assets and acquisitions; additional liens; sale and leasebacks; permissible investments, loans and advances; certain debt payments; and imposes a minimum interest expense coverage ratio of 3.0 and a maximum debt to cash flow ratio of 3.25. The Company does not expect that these measurements will limit the Company in executing our operating activities.
	2011 Refinancing Credit Agreement
	On November 7, 2011, the Company refinanced its existing revolving credit and term loan facility with a consortium of commercial banks. This “2011 Refinancing Credit Agreement” provided the company with a $600 million, five-year revolving credit facility. The Company incurred approximately $1.9 million of deferred financing cost related to the 2011 Refinancing Credit Agreement. The facility was set to expire on November 7, 2016.
	Under the 2011 Refinancing Credit Agreement, the Company may have elected a Base Rate of interest or an interest rate based on the London Interbank Offered Rate (“LIBOR”) of interest (“the Alternate Rate”). The Base Rate adjusted on a daily basis and was the greater of the Federal Funds Effective Rate plus 0.5% per annum, the PNC, N.A. prime rate or the Daily LIBOR Rate plus 100 basis points plus a margin that ranged from 0 to 75 basis points. The Alternate Rate was based on quoted LIBOR rates plus a margin that ranged from 75 to 175 basis points. Both the Base Rate and Alternate Rate margins were dependent on the Company’s consolidated total indebtedness to cash flow ratios. The current Base Rate margin was 0 basis points and the Alternate Rate margin was 100 basis points.
	4.375% Senior Notes Due August 2023
	In August 2013, the Company issued $250.0 million of Senior Notes due in 2023 (the “2013 Notes”).  The 2013 Notes were issued at 99.879% of face value.  Interest on the 2013 Notes accrues at a rate of 4.375% per annum and is payable semi-annually on February 15 and August 15 of each year.  The proceeds were used to repay debt outstanding under the Company’s existing credit agreement, and for general corporate purposes.  The principal balance is due in full at maturity.  The Company incurred $2.6 million of deferred financing costs related to the issuance.
	The 2013 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 2013 Notes were issued contains covenants and restrictions which limit among other things, the following: the incurrence of indebtedness, payment of dividends and certain distributions, sale of assets, change in control, mergers and consolidations and the incurrence of liens.
	The Company is in compliance with the restrictions and covenants in the indenture under which the 2013 Notes were issued and expects that these restrictions and covenants will not be any type of limiting factor in executing our operating activities.
	6.875% Senior Notes Due July 31, 2013
	In August 2003, the Company issued $150.0 million of Senior Notes due in 2013 (“the 2003 Notes”). The 2003 Notes were issued at par. Interest on the 2003 Notes accrued at a rate of 6.875% per annum and was payable semi-annually on January 31 and July 31 of each year. The proceeds were used to repay debt outstanding under the Company’s existing credit agreement, and for general corporate purposes. The Company paid off the 2003 Notes, which matured on July 31, 2013 utilizing available capacity under the 2011 Refinancing Credit Agreement.

Employee_Benefit_Plans

Employee Benefit Plans	6 Months Ended
	Jun. 30, 2014
Employee Benefit Plans	'
	7. 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 defined benefit pension plans summarized by U.S. and international components.
		U.S.						International
		Three Months Ended						Three Months Ended
		June 30,						June 30,
	In thousands, except percentages	2014			2013			2014			2013
	Net periodic benefit cost
	Service cost	$	98		$	106		$	428		$	506
	Interest cost		532			491			1,844			1,656
	Expected return on plan assets		(620	)		(740	)		(2,245	)		(2,095	)
	Net amortization/deferrals		655			839			768			855
	Net periodic benefit cost	$	665		$	696		$	795		$	922
		U.S.						International
		Six Months Ended						Six Months Ended
		June 30,						June 30,
	In thousands, except percentages	2014			2013			2014			2013
	Net periodic benefit cost
	Service cost	$	196		$	212		$	852		$	1,019
	Interest cost		1,064			982			3,665			3,333
	Expected return on plan assets		(1,240	)		(1,480	)		(4,461	)		(4,217	)
	Net amortization/deferrals		1,310			1,678			1,526			1,721
	Net periodic benefit cost	$	1,330		$	1,392		$	1,582		$	1,856
	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 $5.2 million to the international plans and does not expect to make a contribution to the U.S. plans during 2014.
	Post Retirement Benefit Plans
	In addition to providing pension benefits, the Company has provided certain unfunded postretirement health care and life insurance benefits for a portion of North American employees. The Company is not obligated to pay health care and life insurance benefits to individuals who had retired prior to 1990.
	The Company uses a December 31 measurement date for all post retirement plans.
	The following tables provide information regarding the Company’s post retirement benefit plans summarized by U.S. and international components.
		U.S.						International
		Three Months Ended						Three Months Ended
		June 30,						June 30,
	In thousands, except percentages	2014			2013			2014			2013
	Net periodic benefit cost
	Service cost	$	10		$	7		$	9		$	12
	Interest cost		296			321			42			43
	Net amortization/deferrals		(326	)		(212	)		(15	)		(76	)
	Net periodic benefit cost	$	(20	)	$	116		$	36		$	(21	)
		U.S.						International
		Six Months Ended						Six Months Ended
		June 30,						June 30,
	In thousands, except percentages	2014			2013			2014			2013
	Net periodic benefit cost
	Service cost	$	20		$	14		$	18		$	24
	Interest cost		592			642			84			87
	Net amortization/deferrals		(653	)		(424	)		(30	)		(153	)
	Net periodic benefit cost	$	(41	)	$	232		$	72		$	(42	)

Stockbased_Compensation

Stock-based Compensation	6 Months Ended
	Jun. 30, 2014
Stock-based Compensation	'
	8. STOCK-BASED COMPENSATION
	As of June 30, 2014, the Company maintains employee stock-based compensation plans for stock options, restricted stock, restricted units, and incentive stock awards as governed by the 2011 Stock Incentive Compensation Plan (the “2011 Plan”) and the 2000 Stock Incentive Plan, as amended (the “2000 Plan”). The 2011 Plan has a 10-year term through March 27, 2021 and provides a maximum of 3,800,000 shares for grants or awards. The 2011 Plan was approved by stockholders of Wabtec on May 11, 2011. The Company also maintains a Non-Employee Directors’ Fee and Stock Option Plan (“Directors Plan”). No awards may be made under the Directors Plan subsequent to October 31, 2016.
	Stock-based compensation expense was $12.1 million and $11.5 million for the six months ended June 30, 2014 and 2013, respectively. Included in the stock-based compensation expense for the six months ended June 30, 2014 above is $1.1 million of expense related to stock options, $3.0 million related to restricted stock, $1.2 million related to restricted units, $6.3 million related to incentive stock awards and $0.5 million related to awards issued for Directors’ fees. At March 31, 2014, unamortized compensation expense related to stock options, restricted stock, restricted units and incentive stock awards expected to vest totaled $31.1 million and will be recognized over a weighted average 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 four-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 the Directors Plan for the six months ended June 30, 2014:
					Weighted			Weighted
					Average			Average		Aggregate
					Exercise			Remaining		Intrinsic value
		Options			Price			Contractual Life		(in thousands)
	Outstanding at December 31, 2013		1,232,862		$	24.36			6.1	$	61,530
	Granted		78,232			72.82					773
	Exercised		(84,502	)		21.82					(5,145	)
	Canceled		(3,070	)		52.73					(92	)
	Outstanding at June 30, 2014		1,223,522		$	27.56			5.9	$	67,459
	Exercisable at June 30, 2014		875,226		$	20.65			5.1	$	54,306
	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:
		Six Months Ended
		June 30,
		2014			2013
	Dividend yield		0.11	%		0.21	%
	Risk-free interest rate		2.19	%		1.38	%
	Stock price volatility		33.2	%		43.8	%
	Expected life (years)		5			5
	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 U.S. Treasury bond rates for the expected life of the option.
	Restricted Stock, Restricted Units 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 or restricted units that generally vest over four years from the date of grant. Under the Directors Plan, restricted stock awards vest one year from the date of grant.
	In addition, the Company has issued incentive stock awards 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 awards can vest and be awarded ranging from 0% to 200% of the initial incentive stock awards granted. The incentive stock awards 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 June 30, 2014, the Company estimates that it will achieve 167%, 100% and 100% for the incentive stock awards expected to vest based on performance for the three-year periods ending December 31, 2014, 2015, and 2016, respectively, and has recorded incentive compensation expense accordingly. If our estimate of the number of these stock awards 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 restricted stock and incentive stock awards is based on the average of the high and low Wabtec stock price on the date of grant and recognized over the applicable vesting period.
	The following table summarizes the restricted stock and unit activity for the 2011 Plan, the 2000 Plan and the Directors Plan, and incentive stock awards activity for the 2011 Plan and the 2000 Plan with related information for the six months ended June 30, 2014:
								Weighted
		Restricted			Incentive			Average Grant
		Stock			Stock			Date Fair
		and Units			Awards			Value
	Outstanding at December 31, 2013		510,129			1,043,594		$	35.27
	Granted		136,816			134,940			61.03
	Vested		(218,502	)		(458,536	)		29.83
	Adjustment for incentive stock awards expected to vest		-			13,618			43.5
	Canceled		(3,970	)		(8,370	)		45.92
	Outstanding at June 30, 2014		424,473			725,246		$	44.55

Income_Taxes

Income Taxes	6 Months Ended
	Jun. 30, 2014
Income Taxes	'
	9. INCOME TAXES
	The overall effective income tax rate was 30.7% and 31.2% for the three and six months ended June 30, 2014 and 2013, respectively, and 32.0% and 31.0% for the three and six months ended June 30, 2013, respectively. For the three months ended June 30, 2014, the decrease in the effective rate is primarily due to an increase in foreign income taxed at lower statutory rates.  For the six months ended June 30, 2014, the increase in the effective rate is due to R&D tax credits recorded in the first quarter of 2013, not currently extended by statute for 2014.
	As of June 30, 2014, the liability for income taxes associated with uncertain tax positions is $10.3 million, of which $4.5 million, if recognized, would favorably affect the Company’s effective tax rate. As of December 31, 2013 the liability associated with uncertain tax positions was $10.5 million, of which $4.7 million, if recognized, would favorably affect the Company’s effective tax rate.
	The Company includes interest and penalties related to uncertain tax positions in income tax expense. As of June 30, 2014 the total accrued interest and penalties are $1.7 million and $1.1 million, respectively.  As of December 31, 2013 the total accrued interest and penalties are $1.5 million and $0.9 million, respectively.
	At this time, the Company believes that it is reasonably possible that unrecognized tax benefits of approximately $0.2 million may change within the next 12 months due to the expiration of statutory review periods and current examinations.  The Internal Revenue Service is currently auditing the 2012 tax year.  With limited exception, the Company is no longer subject to examination by various U.S. and foreign taxing authorities for years before 2011.

Earnings_Per_Share

Earnings Per Share	6 Months Ended
	Jun. 30, 2014
Earnings Per Share	'
	10. EARNINGS PER SHARE
	The computation of basic and diluted earnings per share for net income attributable to Wabtec shareholders is as follows:
		Three Months Ended
		June 30,
	In thousands, except per share data	2014			2013
	Numerator
	Numerator for basic and diluted earnings per common share - net income attributable
	to Wabtec shareholders	$	88,705		$	74,638
	Less: dividends declared - common shares and non-vested restricted stock		(3,863	)		(2,410	)
	Undistributed earnings		84,842			72,228
	Percentage allocated to common shareholders (1)		99.6	%		99.6	%
			84,503			71,939
	Add: dividends declared - common shares		3,849			2,399
	Numerator for basic and diluted earnings per common share	$	88,352		$	74,338
	Denominator
	Denominator for basic earnings per common share - weighted average shares		96,048			95,762
	Effect of dilutive securities:
	Assumed conversion of dilutive stock-based compensation plans		1,010			1,340
	Denominator for diluted earnings per common share - adjusted weighted average
	shares and assumed conversion		97,058			97,102
	Net income per common share attributable to Wabtec shareholders
	Basic	$	0.92		$	0.78
	Diluted	$	0.91		$	0.77
	(1) Basic weighted-average common shares outstanding		96,048			95,762
	Basic weighted-average common shares outstanding and non-vested restricted
	stock expected to vest		96,395			96,193
	Percentage allocated to common shareholders		99.6	%		99.6	%
		Six Months Ended
		June 30,
	In thousands, except per share data	2014			2013
	Numerator
	Numerator for basic and diluted earnings per common share - net income attributable
	to Wabtec shareholders	$	168,839		$	144,251
	Less: dividends declared - common shares and non-vested restricted stock		(7,691	)		(4,796	)
	Undistributed earnings		161,148			139,455
	Percentage allocated to common shareholders (1)		99.6	%		99.5	%
			160,503			138,758
	Add: dividends declared - common shares		7,657			4,772
	Numerator for basic and diluted earnings per common share	$	168,160		$	143,530
	Denominator
	Denominator for basic earnings per common share - weighted average shares		95,674			95,243
	Effect of dilutive securities:
	Assumed conversion of dilutive stock-based compensation plans		1,153			1,363
	Denominator for diluted earnings per common share - adjusted weighted average
	shares and assumed conversion		96,827			96,606
	Net income per common share attributable to Wabtec shareholders
	Basic	$	1.76		$	1.51
	Diluted	$	1.74		$	1.49
	(1) Basic weighted-average common shares outstanding		95,674			95,243
	Basic weighted-average common shares outstanding and non-vested restricted
	stock expected to vest		96,094			95,724
	Percentage allocated to common shareholders		99.6	%		99.5	%
	The Company’s non-vested restricted stock contains rights to receive nonforfeitable dividends, and thus, are participating securities requiring the two-class method of computing earnings per share. The calculation of earnings per share for common stock shown above excludes the income attributable to the non-vested restricted stock from the numerator and excludes the dilutive impact of those shares from the denominator.

Warranties

Warranties	6 Months Ended
	Jun. 30, 2014
Warranties	'
	11. WARRANTIES
	The following table reconciles the changes in the Company’s product warranty reserve as follows:
		Six Months Ended
		June 30,
	In thousands	2014			2013
	Balance at December 31, 2013 and 2012, respectively	$	60,593		$	58,212
	Warranty expense		15,328			13,851
	Acquisitions		3,567			1,776
	Warranty claim payments		(8,816	)		(10,665	)
	Foreign currency impact/other		447			(1,400	)
	Balance at June 30, 2014 and 2013, respectively	$	71,119		$	61,774

Fair_Value_Measurement_and_Fai

Fair Value Measurement and Fair Value of Financial Instruments

6 Months Ended

Jun. 30, 2014

Fair Value Measurement and Fair Value of Financial Instruments

'

12. 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.

The following table provides the liabilities carried at fair value measured on a recurring basis as of June 30, 2014, which are included in other current liabilities on the Condensed Consolidated Balance sheet:

Fair Value Measurements at June 30, 2014 Using

Total Carrying

Quoted Prices in

Significant

Value at

Active Markets for

Significant Other

Unobservable

June 30,

Identical Assets

Observable Inputs

Inputs

In thousands

2014

(Level 1)

(Level 2)

(Level 3)

Interest rate swap agreements

3,494

-

3,494

-

Total

$

3,494

$

-

$

3,494

$

-

The following table provides the liabilities carried at fair value measured on a recurring basis as of December 31, 2013, which is included in other current liabilities on the Condensed Consolidated Balance sheet:

Fair Value Measurements at December 31, 2013 Using

Total Carrying

Quoted Prices in

Significant

Value at

Active Markets for

Significant Other

Unobservable

December 31,

Identical Assets

Observable Inputs

Inputs

In thousands

2013

(Level 1)

(Level 2)

(Level 3)

Interest rate swap agreements

3,005

-

3,005

-

Total

$

3,005

$

-

$

3,005

$

-

To reduce the impact of interest rate changes on a portion of its variable-rate debt, the Company entered into interest rate swaps which effectively converted a portion of the debt from variable to fixed-rate borrowings during the term of the swap contracts. For certain derivative contracts whose fair values are based upon trades in liquid markets, such as interest rate swaps, valuation model inputs can generally be verified and valuation techniques do not involve significant management judgment. The fair values of such financial instruments are generally classified within Level 2 of the fair value hierarchy.

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 June 30, 2014 and December 31, 2013. The Company’s defined benefit pension plan assets consist primarily of equity security funds, debt security funds and temporary cash and cash equivalent investments. Generally, all plan assets are considered Level 2 based on the fair value valuation hierarchy. 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 represent 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 Notes are considered Level 2 based on the fair value valuation hierarchy.

The estimated fair values and related carrying values of the Company’s financial instruments are as follows:

30-Jun-14

31-Dec-13

Carry

Fair

Carry

Fair

In thousands

Value

Value

Value

Value

Interest rate swap agreement

$

3,494

$

3,494

$

3,005

$

3,005

4.375% Senior Notes

250,000

260,890

250,000

253,135

The fair value of the Company’s interest rate swap agreement and the 2013 Notes were based on dealer quotes and represent the estimated amount the Company would pay to the counterparty to terminate the agreement.

Commitments_and_Contingencies

Commitments and Contingencies	6 Months Ended
	Jun. 30, 2014
Commitments and Contingencies	'
	13. COMMITMENTS AND CONTINGENCIES
	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. Further information and detail on these claims is described in the Company’s Annual Report on Form 10-K for the year ended December 31, 2013, in Note 18 therein, filed on February 21, 2014. During the first six months for 2014, there were no material changes to the information described in the Form 10-K.
	The Company is also subject to litigation from time to time arising out of its operations in the ordinary course of business, including claims based on product liability, contracts, intellectual property, or other causes of action. Further information and detail on any potentially material litigation is as described in the Company’s Annual Report on Form 10-K for the year ended December 31, 2013, in Note 18 therein, filed on February 21, 2014. During the first six months of 2014, there were no material changes to the information described in the Form 10-K.

Segment_Information

Segment Information	6 Months Ended
	Jun. 30, 2014
Segment Information	'
	14. SEGMENT INFORMATION
	Wabtec 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. The business segments are:
	Freight Segment primarily manufactures and services components for new and existing freight cars and locomotives, builds new switcher locomotives, rebuilds freight locomotives, supplies railway electronics, positive train control equipment, signal design and engineering services, friction products, 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 subway cars and buses, builds new commuter locomotives, friction products, and refurbishes subway cars. 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. Corporate activities include general corporate expenses, elimination of intersegment transactions, interest income and expense and other unallocated charges. Since certain administrative and other operating expenses and other items have not been allocated to business segments, the results in the following tables are not necessarily a measure computed in accordance with generally accepted accounting principles and may not be comparable to other companies.
	Segment financial information for the three months ended June 30, 2014 is as follows:
						Corporate
		Freight		Transit		Activities and
	In thousands	Segment		Segment		Elimination			Total
	Sales to external customers	$	411,502	$	319,566	$	-		$	731,068
	Intersegment sales/(elimination)		10,110		1,441		(11,551	)		-
	Total sales	$	421,612	$	321,007	$	(11,551	)	$	731,068
	Income (loss) from operations	$	100,283	$	36,757	$	(4,717	)	$	132,323
	Interest expense and other, net		-		-		(4,282	)		(4,282	)
	Income (loss) from operations before income taxes	$	100,283	$	36,757	$	(8,999	)	$	128,041
	Segment financial information for the three months ended June 30, 2013 is as follows:
						Corporate
		Freight		Transit		Activities and
	In thousands	Segment		Segment		Elimination			Total
	Sales to external customers	$	354,857	$	283,145	$	-		$	638,002
	Intersegment sales/(elimination)		7,914		1,405		(9,319	)	$	-
	Total sales	$	362,771	$	284,550	$	(9,319	)	$	638,002
	Income (loss) from operations	$	78,601	$	35,893	$	(1,940	)	$	112,554
	Interest expense and other, net		-		-		(2,865	)		(2,865	)
	Income (loss) from operations before income taxes	$	78,601	$	35,893	$	(4,805	)	$	109,689
	Segment financial information for the six months ended June 30, 2014 is as follows:
						Corporate
		Freight		Transit		Activities and
	In thousands	Segment		Segment		Elimination			Total
	Sales to external customers	$	797,008	$	629,309	$	-		$	1,426,317
	Intersegment sales/(elimination)		17,293		4,274		(21,567	)		-
	Total sales	$	814,301	$	633,583	$	(21,567	)	$	1,426,317
	Income (loss) from operations	$	192,214	$	71,275	$	(9,320	)	$	254,169
	Interest expense and other, net		-		-		(8,749	)		(8,749	)
	Income (loss) from operations before income taxes	$	192,214	$	71,275	$	(18,069	)	$	245,420
	Segment financial information for the six months ended June 30, 2013 is as follows:
						Corporate
		Freight		Transit		Activities and
	In thousands	Segment		Segment		Elimination			Total
	Sales to external customers	$	668,536	$	584,976	$	-		$	1,253,512
	Intersegment sales/(elimination)		14,974		2,765		(17,739	)	$	-
	Total sales	$	683,510	$	587,741	$	(17,739	)	$	1,253,512
	Income (loss) from operations	$	148,436	$	74,474	$	(6,689	)	$	216,221
	Interest expense and other, net		-		-		(7,060	)		(7,060	)
	Income (loss) from operations before income taxes	$	148,436	$	74,474	$	(13,749	)	$	209,161
	Sales by product are as follows:
		Three Months Ended
		June 30,
	In thousands	2014		2013
	Specialty Products & Electronics	$	312,119	$	264,557
	Remanufacturing, Overhaul & Build		159,575		160,808
	Brake Products		160,664		139,410
	Other Transit Products		53,011		52,379
	Other		45,699		20,848
	Total sales	$	731,068	$	638,002
	Sales by product are as follows:
		Six Months Ended
		June 30,
	In thousands	2014		2013
	Specialty Products & Electronics	$	590,859	$	500,627
	Remanufacturing, Overhaul & Build		331,824		327,534
	Brake Products		316,269		280,732
	Other Transit Products		103,537		103,428
Other		83,828		41,191
Total sales	$	1,426,317	$	1,253,512

Other_Income_Expense_Net

Other Income (Expense), Net	6 Months Ended
	Jun. 30, 2014
Other Income (Expense), Net	'
	15. OTHER INCOME (EXPENSE), NET
	The components of other income (expense) are as follows:
		Three Months Ended						Six Months Ended
		June 30,						June 30,
	In thousands	2014			2013			2014			2013
	Foreign currency gain (loss)	$	262		$	(1,004	)	$	(99	)	$	(1,931	)
	Other miscellaneous (expense) income		(19	)		1,410			325			1,756
	Total other income (expense), net	$	243		$	406		$	226		$	(175	)

Accounting_Policies_Policies

Accounting Policies (Policies)	6 Months Ended
	Jun. 30, 2014
Other Comprehensive Income	'
	ERROR: Could not retrieve Word content for note block
Basis of Presentation	'
	Basis of Presentation The unaudited condensed consolidated interim financial statements have been prepared in accordance with generally accepted accounting principles and the rules and regulations of the Securities and Exchange Commission and include the accounts of Wabtec and its majority owned subsidiaries. These condensed consolidated interim financial statements do not include all of the information and footnotes required for complete financial statements. In management’s opinion, these financial statements reflect all adjustments of a normal, recurring nature necessary for a fair presentation of the results for the interim periods presented. Results for these interim periods are not necessarily indicative of results to be expected for the full year.
	The Company operates on a four-four-five week accounting quarter, and the quarters’ end on or about March 31, June 30, September 30 and December 31.
	The notes included herein should be read in conjunction with the audited consolidated financial statements included in Wabtec’s Annual Report on Form 10-K for the year ended December 31, 2013. The December 31, 2013 information has been derived from the Company’s Annual Report on Form 10-K for the year ended December 31, 2013.
Capital Structure	'
	Capital Structure On May 14, 2013, our stockholders approved an amendment to our Amended and Restated Certificate of Incorporation to increase the number of authorized shares of our common stock to 200.0 million shares.  In addition, on May 14, 2013, our Board of Directors approved a two-for-one split of the Company’s issued and outstanding common stock in the form of a 100% stock dividend.  The increase in the authorized shares and the stock split became effective on May 14, 2013 and June 11, 2013, respectively.
	The Company issued approximately 66.2 million shares of its common stock as a result of the two-for-one stock split. The par value of the Company’s common stock remained unchanged at $0.01 per share.
	Information regarding shares of common stock (except par value per share), retained earnings, and net income per common share attributable to Wabtec shareholders for all periods presented reflects the two-for-one split of the Company’s common stock. The number of shares of the Company’s common stock issuable upon exercise of outstanding stock options and vesting of other stock-based awards was proportionally increased, and the exercise price per share thereof was proportionally decreased, in accordance with the terms of the stock incentive plans.
Reclassifications	'
	Reclassifications Certain prior year footnote amounts have been reclassified where necessary to conform to the current year presentation.
Revenue Recognition	'
	Revenue Recognition Revenue is recognized in accordance with Accounting Standards Codification (“ASC”) 605 “Revenue Recognition”. Revenue is recognized when products have been shipped to the respective customers, title has passed and the price for the product has been determined.
	In general, the Company recognizes revenues on long-term contracts based on the percentage of completion method of accounting. The units-of-delivery method or other input-based or output-based measures, as appropriate, are used to measure the progress toward completion of individual contracts. Contract revenues and cost estimates are reviewed and revised at a minimum quarterly and adjustments are reflected in the accounting period as such amounts are determined. Provisions are made currently for estimated losses on uncompleted contracts. Unbilled accounts receivables were $252.0 million and $205.0 million, customer deposits were $72.4 million and $66.6 million, and provisions for loss contracts were $7.2 million and $14.0 million at June 30, 2014 and December 31, 2013, respectively.
	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 $19.5 million and $19.2 million at June 30, 2014 and December 31, 2013, respectively.
Use of Estimates	'
	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 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.
Financial Derivatives and Hedging Activities	'
	Financial Derivatives and Hedging Activities The Company periodically enters into foreign currency forward contracts to reduce the impact of changes in currency exchange rates. Forward contracts are agreements with a counter-party 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. At June 30, 2014, the Company had no material foreign currency forward contracts.
	To reduce the impact of interest rate changes on a portion of its variable-rate debt, the Company has entered into two forward starting interest rate swap agreements with notional values of $150.0 million. As of June 30, 2014, the Company has recorded a current liability of $3.5 million and a corresponding offset in accumulated other comprehensive loss of $2.1 million, net of tax, related to this agreement. For further information regarding the forward starting interest rate swap agreements, see Footnote 6.
Foreign Currency Translation	'
	Foreign Currency Translation Assets and liabilities of foreign subsidiaries, except for the Company’s Mexican operations whose functional currency is the U.S. Dollar, 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 year. 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	'
	Non-controlling Interests In accordance with ASC 810, the Company has classified non-controlling interests as equity on our condensed consolidated balance sheets as of June 30, 2014 and December 31, 2013. Net income attributable to non-controlling interests for the three and six months ended June 30, 2014 and 2013 was not material.

Accounting_Policies_Tables

Accounting Policies (Tables)	6 Months Ended
	Jun. 30, 2014
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 six months ended June 30, 2014 are as follows:
								Pension and
		Foreign						post
		currency			Derivative			retirement
	In thousands	translation			contracts			benefits plans			Total
	Balance at December 31, 2013	$	17,326		$	(2,010	)	$	(50,172	)	$	(34,856	)
	Other comprehensive income (loss) before reclassifications		8,088			(1,234	)		(268	)		6,586
	Amounts reclassified from accumulated other
	comprehensive income		-			829			1,481			2,310
	Net current period other comprehensive income (loss)		8,088			(405	)		1,213			8,896
	Balance at June 30, 2014	$	25,414		$	(2,415	)	$	(48,959	)	$	(25,960	)
Reclassifications Out of Accumulated Other Comprehensive Loss	'
	Reclassifications out of accumulated other comprehensive loss for the three months ended June 30, 2014 are as follows:
		Amount reclassified from			Affected line item in the
		accumulated other			Condensed Consolidated
	In thousands	comprehensive income			Statements of Operations
	Amortization of defined pension and post retirement items
	Amortization of initial net obligation and prior service cost	$	(614	)	Cost of sales
	Amortization of net loss		1,696		Cost of sales
			1,082		Income from Operations
			(338	)	Income tax expense
		$	744		Net income
	Derivative contracts
	Realized loss on derivative contracts	$	634		Interest expense, net
			(198	)	Income tax expense
		$	436		Net income
	Reclassifications out of accumulated other comprehensive loss for the six months ended June 30, 2014 are as follows:
		Amount reclassified from			Affected line item in the
		accumulated other			Condensed Consolidated
	In thousands	comprehensive income			Statements of Operations
	Amortization of defined pension and post retirement items
	Amortization of initial net obligation and prior service cost	$	(1,230	)	Cost of sales
	Amortization of net loss		3,383		Cost of sales
			2,153		Income from Operations
			(672	)	Income tax expense
		$	1,481		Net income
	Derivative contracts
	Realized loss on derivative contracts	$	1,205		Interest expense, net
			(376	)	Income tax expense
		$	829		Net income

Acquisitions_Tables

Acquisitions (Tables)	6 Months Ended
	Jun. 30, 2014
Summary of Preliminary Estimated Fair Values of the Assets Acquired and Liabilities Assumed at the Date of the Acquisition	'
	For the Fandstan, Longwood and Turbonetics acquisitions, the following table summarizes the preliminary estimated fair values of the assets acquired and liabilities assumed at the date of the acquisition.  For the Transdyne and Napier acquisition, the following table summarizes the final fair values of the assets acquired and liabilities assumed at the date of acquisition.
		Fandstan			Longwood			Turbonetics			Transdyne			Napier
		June 6,			September 24,			July 30,			February 26,			January 31,
	In thousands	2014			2013			2013			2013			2013
	Current assets	$	127,561		$	18,162		$	5,562		$	1,062		$	13,441
	Property, plant & equipment		61,413			19,472			996			83			8,837
	Goodwill		32,907			31,517			6,995			485			67,045
	Other intangible assets		57,976			39,440			11,140			1,000			40,583
	Other assets		141			7			-			-			-
	Total assets acquired		279,998			108,598			24,693			2,630			129,906
	Total liabilities assumed		(80,581	)		(24,735	)		(1,510	)		(228	)		(17,565	)
	Net assets acquired	$	199,417		$	83,863		$	23,183		$	2,402		$	112,341
Pro Forma Financial Information	'
	The following unaudited pro forma financial information presents income statement results as if the acquisitions listed above had occurred on January 1, 2013:
			Three Months Ended			Three Months Ended			Six Months Ended			Six Months Ended
	In thousands		30-Jun-14			30-Jun-13			30-Jun-14			30-Jun-13
	Net sales		$	777,735		$	719,974		$	1,538,249		$	1,416,557
	Gross profit			241,606			218,747			470,115			423,099
	Net income attributable to Wabtec shareholders			92,481			81,957			174,097			155,617
	Diluted earnings per share
	As Reported		$	0.91		$	0.77		$	1.74		$	1.49
	Pro forma		$	0.95		$	0.84		$	1.8		$	1.61

Inventories_Tables

Inventories (Tables)	6 Months Ended
	Jun. 30, 2014
Components of Inventory, Net of Reserves	'
	The components of inventory, net of reserves, were:
		June 30,		December 31,
	In thousands	2014		2013
	Raw materials	$	178,486	$	165,906
	Work-in-progress		167,244		137,449
	Finished goods		135,777		99,874
	Total inventories	$	481,507	$	403,229

Intangibles_Tables

Intangibles (Tables)	6 Months Ended
	Jun. 30, 2014
Change in the Carrying Amount of Goodwill by Segment	'
	The change in the carrying amount of goodwill by segment for the six months ended June 30, 2014 is as follows:
		Freight			Transit
	In thousands	Segment			Segment		Total
	Balance at December 31, 2013	$	509,664		$	276,769	$	786,433
	Adjustment to preliminary purchase allocation		(2,479	)		-		(2,479	)
	Acquisition		-			32,907		32,907
	Foreign currency impact		3,415			1,297		4,712
	Balance at June 30, 2014		510,599			310,973		821,572
Intangible Assets of the Company, Other Than Goodwill and Trademarks	'
	Intangible assets of the Company, other than goodwill and trademarks, consist of the following:
		June 30,			December 31,
	In thousands	2014			2013
	Patents, non-compete and other intangibles, net of accumulated
	amortization of $39,302 and $37,824	$	19,753		$	15,561
	Customer relationships, net of accumulated amortization
	of $51,343 and $44,910		258,536			213,324
	Total	$	278,289		$	228,885
Amortization Expense	'
	Amortization expense for the five succeeding years is estimated to be as follows (in thousands):
	Remainder of 2014	$	13,657
	2015		21,055
	2016		18,544
	2017		17,636
	2018		17,000

Longterm_Debt_Tables

Long-term Debt (Tables)	6 Months Ended
	Jun. 30, 2014
Long-term Debt	'
	Long-term debt consisted of the following:
		June 30,		December 31,
	In thousands	2014		2013
	4.375% Senior Notes, due 2023	$	250,000	$	250,000
	Revolving Credit Facility		250,000		200,000
	Capital Leases		900		709
	Total		500,900		450,709
	Less - current portion		681		421
	Long-term portion	$	500,219	$	450,288

Employee_Benefit_Plans_Tables

Employee Benefit Plans (Tables)	6 Months Ended
	Jun. 30, 2014
Defined Benefit Pension Plans	'
	The following tables provide information regarding the Company’s defined benefit pension plans summarized by U.S. and international components.
		U.S.						International
		Three Months Ended						Three Months Ended
		June 30,						June 30,
	In thousands, except percentages	2014			2013			2014			2013
	Net periodic benefit cost
	Service cost	$	98		$	106		$	428		$	506
	Interest cost		532			491			1,844			1,656
	Expected return on plan assets		(620	)		(740	)		(2,245	)		(2,095	)
	Net amortization/deferrals		655			839			768			855
	Net periodic benefit cost	$	665		$	696		$	795		$	922
		U.S.						International
		Six Months Ended						Six Months Ended
		June 30,						June 30,
	In thousands, except percentages	2014			2013			2014			2013
	Net periodic benefit cost
	Service cost	$	196		$	212		$	852		$	1,019
	Interest cost		1,064			982			3,665			3,333
	Expected return on plan assets		(1,240	)		(1,480	)		(4,461	)		(4,217	)
	Net amortization/deferrals		1,310			1,678			1,526			1,721
	Net periodic benefit cost	$	1,330		$	1,392		$	1,582		$	1,856
Post Retirement Benefit Plans	'
	The following tables provide information regarding the Company’s post retirement benefit plans summarized by U.S. and international components.
		U.S.						International
		Three Months Ended						Three Months Ended
		June 30,						June 30,
	In thousands, except percentages	2014			2013			2014			2013
	Net periodic benefit cost
	Service cost	$	10		$	7		$	9		$	12
	Interest cost		296			321			42			43
	Net amortization/deferrals		(326	)		(212	)		(15	)		(76	)
	Net periodic benefit cost	$	(20	)	$	116		$	36		$	(21	)
		U.S.						International
		Six Months Ended						Six Months Ended
		June 30,						June 30,
	In thousands, except percentages	2014			2013			2014			2013
	Net periodic benefit cost
	Service cost	$	20		$	14		$	18		$	24
	Interest cost		592			642			84			87
	Net amortization/deferrals		(653	)		(424	)		(30	)		(153	)
	Net periodic benefit cost	$	(41	)	$	232		$	72		$	(42	)

Stockbased_Compensation_Tables

Stock-based Compensation (Tables)	6 Months Ended
	Jun. 30, 2014
Stock Option Activity	'
	The following table summarizes the Company’s stock option activity and related information for the 2011 Plan, the 2000 Plan and the Directors Plan for the six months ended June 30, 2014:
					Weighted			Weighted
					Average			Average		Aggregate
					Exercise			Remaining		Intrinsic value
		Options			Price			Contractual Life		(in thousands)
	Outstanding at December 31, 2013		1,232,862		$	24.36			6.1	$	61,530
	Granted		78,232			72.82					773
	Exercised		(84,502	)		21.82					(5,145	)
	Canceled		(3,070	)		52.73					(92	)
	Outstanding at June 30, 2014		1,223,522		$	27.56			5.9	$	67,459
	Exercisable at June 30, 2014		875,226		$	20.65			5.1	$	54,306
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:
		Six Months Ended
		June 30,
		2014			2013
	Dividend yield		0.11	%		0.21	%
	Risk-free interest rate		2.19	%		1.38	%
	Stock price volatility		33.2	%		43.8	%
	Expected life (years)		5			5
Restricted Stock Activity and Incentive Stock Awards Activity	'
	The following table summarizes the restricted stock and unit activity for the 2011 Plan, the 2000 Plan and the Directors Plan, and incentive stock awards activity for the 2011 Plan and the 2000 Plan with related information for the six months ended June 30, 2014:
								Weighted
		Restricted			Incentive			Average Grant
		Stock			Stock			Date Fair
		and Units			Awards			Value
	Outstanding at December 31, 2013		510,129			1,043,594		$	35.27
	Granted		136,816			134,940			61.03
	Vested		(218,502	)		(458,536	)		29.83
	Adjustment for incentive stock awards expected to vest		-			13,618			43.5
	Canceled		(3,970	)		(8,370	)		45.92
	Outstanding at June 30, 2014		424,473			725,246		$	44.55

Earnings_Per_Share_Tables

Earnings Per Share (Tables)	6 Months Ended
	Jun. 30, 2014
Basic and Diluted Earnings Per Share	'
	The computation of basic and diluted earnings per share for net income attributable to Wabtec shareholders is as follows:
		Three Months Ended
		June 30,
	In thousands, except per share data	2014			2013
	Numerator
	Numerator for basic and diluted earnings per common share - net income attributable
	to Wabtec shareholders	$	88,705		$	74,638
	Less: dividends declared - common shares and non-vested restricted stock		(3,863	)		(2,410	)
	Undistributed earnings		84,842			72,228
	Percentage allocated to common shareholders (1)		99.6	%		99.6	%
			84,503			71,939
	Add: dividends declared - common shares		3,849			2,399
	Numerator for basic and diluted earnings per common share	$	88,352		$	74,338
	Denominator
	Denominator for basic earnings per common share - weighted average shares		96,048			95,762
	Effect of dilutive securities:
	Assumed conversion of dilutive stock-based compensation plans		1,010			1,340
	Denominator for diluted earnings per common share - adjusted weighted average
	shares and assumed conversion		97,058			97,102
	Net income per common share attributable to Wabtec shareholders
	Basic	$	0.92		$	0.78
	Diluted	$	0.91		$	0.77
	(1) Basic weighted-average common shares outstanding		96,048			95,762
	Basic weighted-average common shares outstanding and non-vested restricted
	stock expected to vest		96,395			96,193
	Percentage allocated to common shareholders		99.6	%		99.6	%
		Six Months Ended
		June 30,
	In thousands, except per share data	2014			2013
	Numerator
	Numerator for basic and diluted earnings per common share - net income attributable
	to Wabtec shareholders	$	168,839		$	144,251
	Less: dividends declared - common shares and non-vested restricted stock		(7,691	)		(4,796	)
	Undistributed earnings		161,148			139,455
	Percentage allocated to common shareholders (1)		99.6	%		99.5	%
			160,503			138,758
	Add: dividends declared - common shares		7,657			4,772
	Numerator for basic and diluted earnings per common share	$	168,160		$	143,530
	Denominator
	Denominator for basic earnings per common share - weighted average shares		95,674			95,243
	Effect of dilutive securities:
	Assumed conversion of dilutive stock-based compensation plans		1,153			1,363
	Denominator for diluted earnings per common share - adjusted weighted average
	shares and assumed conversion		96,827			96,606
	Net income per common share attributable to Wabtec shareholders
	Basic	$	1.76		$	1.51
	Diluted	$	1.74		$	1.49
	(1) Basic weighted-average common shares outstanding		95,674			95,243
	Basic weighted-average common shares outstanding and non-vested restricted
	stock expected to vest		96,094			95,724
	Percentage allocated to common shareholders		99.6	%		99.5	%

Warranties_Tables

Warranties (Tables)	6 Months Ended
	Jun. 30, 2014
Changes in Product Warranty Reserve	'
	The following table reconciles the changes in the Company’s product warranty reserve as follows:
		Six Months Ended
		June 30,
	In thousands	2014			2013
	Balance at December 31, 2013 and 2012, respectively	$	60,593		$	58,212
	Warranty expense		15,328			13,851
	Acquisitions		3,567			1,776
	Warranty claim payments		(8,816	)		(10,665	)
	Foreign currency impact/other		447			(1,400	)
	Balance at June 30, 2014 and 2013, respectively	$	71,119		$	61,774

Fair_Value_Measurement_and_Fai1

Fair Value Measurement and Fair Value of Financial Instruments (Tables)

6 Months Ended

Jun. 30, 2014

Liabilities Carried at Fair Value Measured on Recurring Basis

'

The following table provides the liabilities carried at fair value measured on a recurring basis as of June 30, 2014, which are included in other current liabilities on the Condensed Consolidated Balance sheet:

Fair Value Measurements at June 30, 2014 Using

Total Carrying

Quoted Prices in

Significant

Value at

Active Markets for

Significant Other

Unobservable

June 30,

Identical Assets

Observable Inputs

Inputs

In thousands

2014

(Level 1)

(Level 2)

(Level 3)

Interest rate swap agreements

3,494

-

3,494

-

Total

$

3,494

$

-

$

3,494

$

-

The following table provides the liabilities carried at fair value measured on a recurring basis as of December 31, 2013, which is included in other current liabilities on the Condensed Consolidated Balance sheet:

Fair Value Measurements at December 31, 2013 Using

Total Carrying

Quoted Prices in

Significant

Value at

Active Markets for

Significant Other

Unobservable

December 31,

Identical Assets

Observable Inputs

Inputs

In thousands

2013

(Level 1)

(Level 2)

(Level 3)

Interest rate swap agreements

3,005

-

3,005

-

Total

$

3,005

$

-

$

3,005

$

-

Estimated Fair Values and Related Carrying Values of Financial Instruments

'

The estimated fair values and related carrying values of the Company’s financial instruments are as follows:

30-Jun-14

31-Dec-13

Carry

Fair

Carry

Fair

In thousands

Value

Value

Value

Value

Interest rate swap agreement

$

3,494

$

3,494

$

3,005

$

3,005

4.375% Senior Notes

250,000

260,890

250,000

253,135

Segment_Information_Tables

Segment Information (Tables)	6 Months Ended
	Jun. 30, 2014
Segment Financial Information	'
	Segment financial information for the three months ended June 30, 2014 is as follows:
						Corporate
		Freight		Transit		Activities and
	In thousands	Segment		Segment		Elimination			Total
	Sales to external customers	$	411,502	$	319,566	$	-		$	731,068
	Intersegment sales/(elimination)		10,110		1,441		(11,551	)		-
	Total sales	$	421,612	$	321,007	$	(11,551	)	$	731,068
	Income (loss) from operations	$	100,283	$	36,757	$	(4,717	)	$	132,323
	Interest expense and other, net		-		-		(4,282	)		(4,282	)
	Income (loss) from operations before income taxes	$	100,283	$	36,757	$	(8,999	)	$	128,041
	Segment financial information for the three months ended June 30, 2013 is as follows:
						Corporate
		Freight		Transit		Activities and
	In thousands	Segment		Segment		Elimination			Total
	Sales to external customers	$	354,857	$	283,145	$	-		$	638,002
	Intersegment sales/(elimination)		7,914		1,405		(9,319	)	$	-
	Total sales	$	362,771	$	284,550	$	(9,319	)	$	638,002
	Income (loss) from operations	$	78,601	$	35,893	$	(1,940	)	$	112,554
	Interest expense and other, net		-		-		(2,865	)		(2,865	)
	Income (loss) from operations before income taxes	$	78,601	$	35,893	$	(4,805	)	$	109,689
	Segment financial information for the six months ended June 30, 2014 is as follows:
						Corporate
		Freight		Transit		Activities and
	In thousands	Segment		Segment		Elimination			Total
	Sales to external customers	$	797,008	$	629,309	$	-		$	1,426,317
	Intersegment sales/(elimination)		17,293		4,274		(21,567	)		-
	Total sales	$	814,301	$	633,583	$	(21,567	)	$	1,426,317
	Income (loss) from operations	$	192,214	$	71,275	$	(9,320	)	$	254,169
	Interest expense and other, net		-		-		(8,749	)		(8,749	)
	Income (loss) from operations before income taxes	$	192,214	$	71,275	$	(18,069	)	$	245,420
	Segment financial information for the six months ended June 30, 2013 is as follows:
						Corporate
		Freight		Transit		Activities and
	In thousands	Segment		Segment		Elimination			Total
	Sales to external customers	$	668,536	$	584,976	$	-		$	1,253,512
	Intersegment sales/(elimination)		14,974		2,765		(17,739	)	$	-
	Total sales	$	683,510	$	587,741	$	(17,739	)	$	1,253,512
	Income (loss) from operations	$	148,436	$	74,474	$	(6,689	)	$	216,221
	Interest expense and other, net		-		-		(7,060	)		(7,060	)
	Income (loss) from operations before income taxes	$	148,436	$	74,474	$	(13,749	)	$	209,161
Sales by Product	'
	Sales by product are as follows:
		Three Months Ended
		June 30,
	In thousands	2014		2013
	Specialty Products & Electronics	$	312,119	$	264,557
	Remanufacturing, Overhaul & Build		159,575		160,808
	Brake Products		160,664		139,410
	Other Transit Products		53,011		52,379
	Other		45,699		20,848
	Total sales	$	731,068	$	638,002
	Sales by product are as follows:
		Six Months Ended
		June 30,
	In thousands	2014		2013
	Specialty Products & Electronics	$	590,859	$	500,627
	Remanufacturing, Overhaul & Build		331,824		327,534
	Brake Products		316,269		280,732
	Other Transit Products		103,537		103,428
	Other		83,828		41,191
	Total sales	$	1,426,317	$	1,253,512

Other_Income_Expense_Net_Table

Other Income (Expense), Net (Tables)	6 Months Ended
	Jun. 30, 2014
Components of Other Income (Expense)	'
	The components of other income (expense) are as follows:
		Three Months Ended						Six Months Ended
		June 30,						June 30,
	In thousands	2014			2013			2014			2013
	Foreign currency gain (loss)	$	262		$	(1,004	)	$	(99	)	$	(1,931	)
	Other miscellaneous (expense) income		(19	)		1,410			325			1,756
	Total other income (expense), net	$	243		$	406		$	226		$	(175	)

Business_Additional_Informatio

Business - Additional Information (Detail)	6 Months Ended
	Jun. 30, 2014
Product Information [Line Items]	'
Number of countries company operates	19
Sales Revenue Outside United States	'
Product Information [Line Items]	'
Revenues from customers outside the U.S.	46.00%
Minimum	'
Product Information [Line Items]	'
Number of countries where product found	100

Accounting_Policies_Additional

Accounting Policies - Additional Information (Detail) (USD $)	0 Months Ended
	14-May-13	Jun. 30, 2014	Dec. 31, 2013	Jun. 30, 2014	Mar. 31, 2014
				Forward Starting Interest Rate Swap Agreement	Forward Starting Interest Rate Swap Agreement
Summary Of Significant Accounting Policies [Line Items]	'	'	'	'	'
Common stock, shares authorized	200,000,000	200,000,000	200,000,000	'	'
Stock split ratio	2	'	'	'	'
Percentage of stock dividend	100.00%	'	'	'	'
Shares issued during stock split	66,200,000	'	'	'	'
Common stock, par value	$0.01	$0.01	$0.01	'	'
Unbilled accounts receivable	'	$251,958,000	$205,045,000	'	'
Customer deposits	'	72,369,000	66,573,000	'	'
Provisions for loss contracts	'	7,200,000	14,000,000	'	'
Deferred pre-production costs	'	19,500,000	19,200,000	'	'
Interest rate swap agreements, notional amount	'	'	'	'	150,000,000
Current liability	'	'	'	3,500,000	'
Interest rate swap, accumulated other comprehensive loss	'	'	'	$2,100,000	'

Changes_in_Accumulated_Other_C

Changes in Accumulated Other Comprehensive Loss by Component, Net of Tax (Detail) (USD $)	3 Months Ended		6 Months Ended
In Thousands, unless otherwise specified	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013
Accumulated Other Comprehensive Income Loss [Line Items]	'	'	'	'
Balance at December 31, 2013	'	'	($34,856)	'
Other comprehensive income (loss) before reclassifications	'	'	6,586	'
Amounts reclassified from accumulated other comprehensive income	'	'	2,310	'
Net current period other comprehensive income (loss)	8,103	-6,809	8,896	-32,549
Balance at June 30, 2014	-25,960	'	-25,960	'
Foreign Currency Translation	'	'	'	'
Accumulated Other Comprehensive Income Loss [Line Items]	'	'	'	'
Balance at December 31, 2013	'	'	17,326	'
Other comprehensive income (loss) before reclassifications	'	'	8,088	'
Net current period other comprehensive income (loss)	'	'	8,088	'
Balance at June 30, 2014	25,414	'	25,414	'
Derivative Contracts	'	'	'	'
Accumulated Other Comprehensive Income Loss [Line Items]	'	'	'	'
Balance at December 31, 2013	'	'	-2,010	'
Other comprehensive income (loss) before reclassifications	'	'	-1,234	'
Amounts reclassified from accumulated other comprehensive income	'	'	829	'
Net current period other comprehensive income (loss)	'	'	-405	'
Balance at June 30, 2014	-2,415	'	-2,415	'
Pension And Post Retirement Benefit Plans	'	'	'	'
Accumulated Other Comprehensive Income Loss [Line Items]	'	'	'	'
Balance at December 31, 2013	'	'	-50,172	'
Other comprehensive income (loss) before reclassifications	'	'	-268	'
Amounts reclassified from accumulated other comprehensive income	744	'	1,481	'
Net current period other comprehensive income (loss)	'	'	1,213	'
Balance at June 30, 2014	($48,959)	'	($48,959)	'

Reclassifications_Out_of_Accum

Reclassifications Out of Accumulated Other Comprehensive Loss (Detail) (USD $)	3 Months Ended	6 Months Ended
In Thousands, unless otherwise specified	Jun. 30, 2014	Jun. 30, 2014
Accumulated Other Comprehensive Income Loss [Line Items]	'	'
Amortization of net loss	$1,696	$3,383
Amounts Reclassified From Accumulated Other Comprehensive Income Before Income Taxes	1,082	2,153
Amounts Reclassified From Accumulated Other Comprehensive Income, tax effect	-338	-672
Amounts Reclassified From Accumulated Other Comprehensive Income Net of Income Taxes	'	2,310
Cost of Sales	'	'
Accumulated Other Comprehensive Income Loss [Line Items]	'	'
Amortization of initial net obligation and prior service cost	-614	-1,230
Pension And Post Retirement Benefit Plans	'	'
Accumulated Other Comprehensive Income Loss [Line Items]	'	'
Amounts Reclassified From Accumulated Other Comprehensive Income Net of Income Taxes	744	1,481
Derivative	'	'
Accumulated Other Comprehensive Income Loss [Line Items]	'	'
Amounts Reclassified From Accumulated Other Comprehensive Income, tax effect	-198	-376
Amounts Reclassified From Accumulated Other Comprehensive Income Net of Income Taxes	436	829
Amounts Reclassified From Accumulated Other Comprehensive Income, interest expense	$634	$1,205

Acquisitions_Additional_Inform

Acquisitions - Additional Information (Detail) (USD $)

6 Months Ended

6 Months Ended

0 Months Ended

6 Months Ended

0 Months Ended

6 Months Ended

0 Months Ended

6 Months Ended

1 Months Ended

6 Months Ended

0 Months Ended

6 Months Ended

Jun. 30, 2014

Jun. 30, 2013

Dec. 31, 2013

Jun. 30, 2014

Jun. 30, 2014

Jun. 30, 2014

Jun. 30, 2014

Jun. 30, 2014

Sep. 24, 2013

Jun. 30, 2014

Jul. 30, 2013

Jun. 30, 2014

Feb. 26, 2013

Jun. 30, 2014

Jan. 31, 2013

Jun. 30, 2014

Jun. 06, 2014

Jun. 30, 2014

Trade Names

Customer Relationships

Patents

Favorable Leasehold Interest

Order or Production Backlog

Longwood Industries Inc

Longwood Industries Inc

Turbonetics

Turbonetics

Transdyne

Transdyne

Napier

Napier

Fandstan Electric Group Ltd

Fandstan Electric Group Ltd

Business Acquisition [Line Items]

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Date of acquisition

'

'

'

'

'

'

'

'

'

24-Sep-13

'

30-Jul-13

'

26-Feb-13

'

31-Jan-13

'

6-Jun-14

Business acquisition, net purchase price, net of cash

$199,417,000

$115,071,000

'

'

'

'

'

'

$83,900,000

'

$23,200,000

'

$2,400,000

'

$112,300,000

'

$199,400,000

'

Goodwill

821,572,000

'

786,433,000

'

'

'

'

'

31,517,000

'

6,995,000

'

485,000

'

67,045,000

'

32,907,000

'

Escrow deposits

8,900,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Acquired intangible assets

$150,100,000

'

'

$24,000,000

$111,300,000

$5,400,000

$800,000

$8,600,000

$39,440,000

'

$11,140,000

'

$1,000,000

'

$40,583,000

'

$57,976,000

'

Average useful life, years

'

'

'

'

'20 years

'11 years

'5 years

'

'

'

'

'

'

'

'

'

'

'

Summary_of_Preliminary_Estimat

Summary of Preliminary Estimated Fair Values of Assets Acquired and Liabilities Assumed (Detail) (USD $)	Jun. 30, 2014	Dec. 31, 2013	Jun. 06, 2014	Sep. 24, 2013	Jul. 30, 2013	Feb. 26, 2013	Jan. 31, 2013
In Thousands, unless otherwise specified			Fandstan	Longwood	Turbonetics	Transdyne	Napier
Business Acquisition [Line Items]	'	'	'	'	'	'	'
Current assets	'	'	$127,561	$18,162	$5,562	$1,062	$13,441
Property, plant & equipment	'	'	61,413	19,472	996	83	8,837
Goodwill	821,572	786,433	32,907	31,517	6,995	485	67,045
Other intangible assets	150,100	'	57,976	39,440	11,140	1,000	40,583
Other assets	'	'	141	7	'	'	'
Total assets acquired	'	'	279,998	108,598	24,693	2,630	129,906
Total liabilities assumed	'	'	-80,581	-24,735	-1,510	-228	-17,565
Net assets acquired	'	'	$199,417	$83,863	$23,183	$2,402	$112,341

Pro_Forma_Financial_Informatio

Pro Forma Financial Information (Detail) (USD $)	3 Months Ended		6 Months Ended
In Thousands, except Per Share data, unless otherwise specified	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013
Business Acquisition [Line Items]	'	'	'	'
Net sales	$777,735	$719,974	$1,538,249	$1,416,557
Gross profit	241,606	218,747	470,115	423,099
Net income attributable to Wabtec shareholders	$92,481	$81,957	$174,097	$155,617
Diluted earnings per share, As reported	$0.91	$0.77	$1.74	$1.49
Diluted earnings per share, Pro forma	$0.95	$0.84	$1.80	$1.61

Components_of_Inventory_Net_of

Components of Inventory, Net of Reserves (Detail) (USD $)	Jun. 30, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified
Inventory [Line Items]	'	'
Raw materials	$178,486	$165,906
Work-in-progress	167,244	137,449
Finished goods	135,777	99,874
Total inventories	$481,507	$403,229

Change_in_the_Carrying_Amount_

Change in the Carrying Amount of Goodwill by Segment (Detail) (USD $)	6 Months Ended
In Thousands, unless otherwise specified	Jun. 30, 2014
Goodwill [Line Items]	'
Balance at December 31, 2013	$786,433
Adjustment to preliminary purchase allocation	-2,479
Acquisition	32,907
Foreign currency impact	4,712
Balance at June 30, 2014	821,572
Freight Segment	'
Goodwill [Line Items]	'
Balance at December 31, 2013	509,664
Adjustment to preliminary purchase allocation	-2,479
Foreign currency impact	3,415
Balance at June 30, 2014	510,599
Transit Segment	'
Goodwill [Line Items]	'
Balance at December 31, 2013	276,769
Acquisition	32,907
Foreign currency impact	1,297
Balance at June 30, 2014	$310,973

Intangibles_Additional_Informa

Intangibles - Additional Information (Detail) (USD $)	3 Months Ended		6 Months Ended
In Millions, unless otherwise specified	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013	Dec. 31, 2013
Intangible Assets Disclosure [Line Items]	'	'	'	'	'
Trademarks	$157.10	'	$157.10	'	$156.80
Intangible assets, amortization expense	$5.10	$5.20	$9.80	$8.80	'
Patents	'	'	'	'	'
Intangible Assets Disclosure [Line Items]	'	'	'	'	'
Intangible assets, weighted average useful life (years)	'	'	'10 years	'	'
Customer Relationships	'	'	'	'	'
Intangible Assets Disclosure [Line Items]	'	'	'	'	'
Intangible assets, weighted average useful life (years)	'	'	'17 years	'	'
Intellectual Property	'	'	'	'	'
Intangible Assets Disclosure [Line Items]	'	'	'	'	'
Intangible assets, weighted average useful life (years)	'	'	'15 years	'	'

Intangible_Assets_Other_Than_G

Intangible Assets Other Than Goodwill and Trademarks (Detail) (USD $)	Jun. 30, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified
Finite Lived Intangible Assets [Line Items]	'	'
Intangible assets, net of accumulated amortization	$278,289	$228,885
Patents And Other	'	'
Finite Lived Intangible Assets [Line Items]	'	'
Intangible assets, net of accumulated amortization	19,753	15,561
Customer Relationships	'	'
Finite Lived Intangible Assets [Line Items]	'	'
Intangible assets, net of accumulated amortization	$258,536	$213,324

Intangible_Assets_Other_Than_G1

Intangible Assets Other Than Goodwill and Trademarks (Parenthetical) (Detail) (USD $)	Jun. 30, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified
Patents And Other	'	'
Finite Lived Intangible Assets [Line Items]	'	'
Intangible assets, net of accumulated amortization	$39,302	$37,824
Customer Relationships	'	'
Finite Lived Intangible Assets [Line Items]	'	'
Intangible assets, net of accumulated amortization	$51,343	$44,910

Amortization_Expense_Detail

Amortization Expense (Detail) (USD $)	Jun. 30, 2014
In Thousands, unless otherwise specified
Acquired Finite Lived Intangible Assets [Line Items]	'
Remainder of 2014	$13,657
2015	21,055
2016	18,544
2017	17,636
2018	$17,000

Long_Term_Debt_Detail

Long Term Debt (Detail) (USD $)	Jun. 30, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified
Debt Instrument [Line Items]	'	'
Long-term Debt	$500,900	$450,709
Less - current portion	681	421
Long-term portion	500,219	450,288
Revolving Credit Facility	'	'
Debt Instrument [Line Items]	'	'
Long-term Debt	250,000	200,000
4.375% Senior Notes, due 2023	'	'
Debt Instrument [Line Items]	'	'
Long-term Debt	250,000	250,000
Capital Leases	'	'
Debt Instrument [Line Items]	'	'
Long-term Debt	$900	$709

Long_Term_Debt_Parenthetical_D

Long Term Debt (Parenthetical) (Detail) (4.375% Senior Notes, due 2023)	6 Months Ended
	Jun. 30, 2014
4.375% Senior Notes, due 2023	'
Debt Instrument [Line Items]	'
Maturity date of debt instrument, year	'2023
Debt Instrument, Interest Rate, Stated Percentage	4.38%

Long_Term_Debt_Additional_Info

Long Term Debt - Additional Information (Detail) (USD $)	0 Months Ended	6 Months Ended
In Millions, unless otherwise specified	Jun. 05, 2014	Jun. 30, 2014
Debt Instrument [Line Items]	'	'
Long-term debt, percentage bearing variable interest rate	'	0.91%
Forward Starting Interest Rate Swap Agreement	'	'
Debt Instrument [Line Items]	'	'
Debt instrument, effective issuance date	7-Nov-16	31-Jul-13
Maturity date of debt instrument	19-Dec-18	7-Nov-16
Interest rate swap agreements, notional amount	$150	$150
Interest rate on notional value	2.56%	1.42%
2013 Refinancing Credit Agreement	'	'
Debt Instrument [Line Items]	'	'
Deferred financing cost	'	1
Debt instrument, effective issuance date	'	19-Dec-13
Maturity date of debt instrument	'	19-Dec-18
Debt instrument, interest rate, effective percentage	'	0.50%
Debt instrument basis points spread on variable rate	'	1.00%
Minimum interest expense coverage ratio	'	3
Maximum debt to cash flow ratio	'	3.25
2013 Refinancing Credit Agreement | Base Rate	'	'
Debt Instrument [Line Items]	'	'
Debt instrument basis points spread on variable rate	'	0.00%
2013 Refinancing Credit Agreement | Base Rate | Minimum	'	'
Debt Instrument [Line Items]	'	'
Debt instrument basis points spread on variable rate	'	0.00%
2013 Refinancing Credit Agreement | Base Rate | Maximum	'	'
Debt Instrument [Line Items]	'	'
Debt instrument basis points spread on variable rate	'	0.75%
2013 Refinancing Credit Agreement | Alternative Rate	'	'
Debt Instrument [Line Items]	'	'
Debt instrument basis points spread on variable rate	'	0.75%
2013 Refinancing Credit Agreement | Alternative Rate | Minimum	'	'
Debt Instrument [Line Items]	'	'
Debt instrument basis points spread on variable rate	'	0.75%
2013 Refinancing Credit Agreement | Alternative Rate | Maximum	'	'
Debt Instrument [Line Items]	'	'
Debt instrument basis points spread on variable rate	'	1.75%
2011 Refinancing Credit Agreement	'	'
Debt Instrument [Line Items]	'	'
Debt instrument, effective issuance date	'	7-Nov-11
Maturity date of debt instrument	'	7-Nov-16
Debt instrument, interest rate, effective percentage	'	0.50%
Debt instrument basis points spread on variable rate	'	1.00%
2011 Refinancing Credit Agreement | Base Rate	'	'
Debt Instrument [Line Items]	'	'
Debt instrument basis points spread on variable rate	'	0.00%
2011 Refinancing Credit Agreement | Base Rate | Minimum	'	'
Debt Instrument [Line Items]	'	'
Debt instrument basis points spread on variable rate	'	0.00%
2011 Refinancing Credit Agreement | Base Rate | Maximum	'	'
Debt Instrument [Line Items]	'	'
Debt instrument basis points spread on variable rate	'	0.75%
2011 Refinancing Credit Agreement | Alternative Rate	'	'
Debt Instrument [Line Items]	'	'
Debt instrument basis points spread on variable rate	'	1.00%
2011 Refinancing Credit Agreement | Alternative Rate | Minimum	'	'
Debt Instrument [Line Items]	'	'
Debt instrument basis points spread on variable rate	'	0.75%
2011 Refinancing Credit Agreement | Alternative Rate | Maximum	'	'
Debt Instrument [Line Items]	'	'
Debt instrument basis points spread on variable rate	'	1.75%
4.375% Senior Notes, due 2023	'	'
Debt Instrument [Line Items]	'	'
Deferred financing cost	'	2.6
Debt instrument, effective issuance date	'	31-Aug-13
Debt instrument, interest rate, effective percentage	'	99.88%
Maturity date of debt instrument, year	'	'2023
Senior Notes issued	'	250
Debt Instrument, Interest Rate, Stated Percentage	'	4.38%
6.875% Senior Notes, Due 2013	'	'
Debt Instrument [Line Items]	'	'
Debt instrument, effective issuance date	'	31-Aug-03
Maturity date of debt instrument	'	31-Jul-13
Senior Notes issued	'	150
Debt Instrument, Interest Rate, Stated Percentage	'	6.88%
Revolving Credit Facility | 2013 Refinancing Credit Agreement	'	'
Debt Instrument [Line Items]	'	'
Revolving credit facility, amount	'	800
Credit facility loan term, years	'	'5 years
Line of credit facility, amount currently available	'	531.9
Revolving Credit Facility | 2011 Refinancing Credit Agreement	'	'
Debt Instrument [Line Items]	'	'
Revolving credit facility, amount	'	600
Credit facility loan term, years	'	'5 years
Deferred financing cost	'	1.9
Letter of Credit	'	'
Debt Instrument [Line Items]	'	'
Line of credit facility, current borrowing capacity	'	$18.10

Post_Retirement_Benefit_Plans_

Post Retirement Benefit Plans (Detail) (USD $)	3 Months Ended		6 Months Ended
In Thousands, unless otherwise specified	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013
U.S. Defined Benefit Pension Plans	'	'	'	'
Defined Benefit Plan Disclosure [Line Items]	'	'	'	'
Service cost	$98	$106	$196	$212
Interest cost	532	491	1,064	982
Expected return on plan assets	-620	-740	-1,240	-1,480
Net amortization/deferrals	655	839	1,310	1,678
Net periodic benefit cost	665	696	1,330	1,392
International Defined Benefit Pension Plans	'	'	'	'
Defined Benefit Plan Disclosure [Line Items]	'	'	'	'
Service cost	428	506	852	1,019
Interest cost	1,844	1,656	3,665	3,333
Expected return on plan assets	-2,245	-2,095	-4,461	-4,217
Net amortization/deferrals	768	855	1,526	1,721
Net periodic benefit cost	795	922	1,582	1,856
U.S. Post Retirement	'	'	'	'
Defined Benefit Plan Disclosure [Line Items]	'	'	'	'
Service cost	10	7	20	14
Interest cost	296	321	592	642
Net amortization/deferrals	-326	-212	-653	-424
Net periodic benefit cost	-20	116	-41	232
International Post Retirement	'	'	'	'
Defined Benefit Plan Disclosure [Line Items]	'	'	'	'
Service cost	9	12	18	24
Interest cost	42	43	84	87
Net amortization/deferrals	-15	-76	-30	-153
Net periodic benefit cost	$36	($21)	$72	($42)

Employee_Benefit_Plans_Additio

Employee Benefit Plans - Additional Information (Detail) (USD $)	6 Months Ended
In Millions, unless otherwise specified	Jun. 30, 2014
International Defined Benefit Pension Plans	'
Defined Benefit Plans And Other Postretirement Benefit Plans Table Text Block [Line Items]	'
Contribution to plan	$5.20
U.S. Defined Benefit Pension Plans	'
Defined Benefit Plans And Other Postretirement Benefit Plans Table Text Block [Line Items]	'
Contribution to plan	$0

Stock_Based_Compensation_Addit

Stock Based Compensation - Additional Information (Detail) (USD $)

3 Months Ended

6 Months Ended

36 Months Ended

6 Months Ended

In Millions, except Share data, unless otherwise specified

Mar. 31, 2014

Jun. 30, 2014

Jun. 30, 2013

Jun. 30, 2014

Jun. 30, 2014

Jun. 30, 2014

Jun. 30, 2014

Dec. 31, 2016

Dec. 31, 2015

Dec. 31, 2014

Jun. 30, 2014

Jun. 30, 2014

Jun. 30, 2014

Jun. 30, 2014

Jun. 30, 2014

Jun. 30, 2014

Jun. 30, 2014

Employee Stock Option

Restricted Stock

Restricted Stock Units (RSUs)

Performance Shares

Performance Shares

Performance Shares

Performance Shares

Performance Shares

Performance Shares

Plan 2011

Plan 2011

Directors Plan

Directors Plan

Plan 2000

Scenario Forecast

Scenario Forecast

Scenario Forecast

Minimum

Maximum

Employee Stock Option

Restricted Stock

Employee Stock Option

Share Based Compensation Arrangement By Share Based Payment Award [Line Items]

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Plan term, years

'

'

'

'

'

'

'

'

'

'

'

'

'10 years

'10 years

'

'

'10 years

Share based compensation arrangement plan expiration

'

'

'

'

'

'

'

'

'

'

'

'

'

'

31-Oct-16

'

'

Shares authorized for grants

'

'

'

'

'

'

'

'

'

'

'

'

3,800,000

'

'

'

'

Stock-based compensation expense

'

$12.10

$11.50

$1.10

$3

$1.20

$6.30

'

'

'

'

'

'

'

$0.50

'

'

Unamortized compensation expense expected to be vested

$31.10

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Recognized weighted average period, years

'1 year 4 months 24 days

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Vesting period, maximum years

'

'

'

'

'

'

'

'

'

'

'

'

'

'4 years

'

'1 year

'4 years

Performance goal period to vest incentive stock awards

'

'3 years

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Percentage of Incentive Stock Awards Expected to be Vested and Awarded of Stocks Granted

'

'

'

'

'

'

'

100.00%

100.00%

167.00%

0.00%

200.00%

'

'

'

'

'

Stock_Option_Activity_Detail

Stock Option Activity (Detail) (USD $)	6 Months Ended	12 Months Ended
In Thousands, except Share data, unless otherwise specified	Jun. 30, 2014	Dec. 31, 2013
Options Outstanding	'	'
Outstanding, beginning of period	1,232,862	'
Granted	78,232	'
Exercised	-84,502	'
Canceled	-3,070	'
Outstanding, end of period	1,223,522	1,232,862
Exercisable at June 30, 2014	875,226	'
Weighted-Average Exercise Price per Share	'	'
Outstanding, beginning of period	$24.36	'
Granted	$72.82	'
Exercised	$21.82	'
Canceled	$52.73	'
Outstanding, end of period	$27.56	$24.36
Exercisable at June 30, 2014	$20.65	'
Weighted-Average Remaining Contractual Life	'	'
Weighted- Average Remaining Contractual Life, outstanding	'5 years 10 months 24 days	'6 years 1 month 6 days
Exercisable at June 30, 2014	'5 years 1 month 6 days	'
Aggregate Intrinsic Value	'	'
Outstanding, beginning of period	$61,530	'
Granted	773	'
Exercised	-5,145	'
Canceled	-92	'
Outstanding, end of period	67,459	61,530
Exercisable at June 30, 2014	$54,306	'

Fair_Value_of_Each_Option_Gran

Fair Value of Each Option Grant Weighted Average Assumptions (Detail)	6 Months Ended
	Jun. 30, 2014	Jun. 30, 2013
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]	'	'
Dividend yield	0.11%	0.21%
Risk-free interest rate	2.19%	1.38%
Stock price volatility	33.20%	43.80%
Expected life (years)	'5 years	'5 years

Restricted_Stock_Activity_and_

Restricted Stock Activity and Incentive Stock Awards Activity (Detail) (USD $)	6 Months Ended
	Jun. 30, 2014
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]	'
Outstanding, beginning of period	$35.27
Granted	$61.03
Vested	$29.83
Adjustment for incentive stock awards expected to vest	$43.50
Canceled	$45.92
Outstanding, end of period	$44.55
Restricted Stock and Units	'
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]	'
Outstanding, beginning of period	510,129
Granted	136,816
Vested	-218,502
Canceled	-3,970
Outstanding, end of period	424,473
Performance Shares	'
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]	'
Outstanding, beginning of period	1,043,594
Granted	134,940
Vested	-458,536
Adjustment for incentive stock awards expected to vest	13,618
Canceled	-8,370
Outstanding, end of period	725,246

Income_Taxes_Additional_Inform

Income Taxes - Additional Information (Detail) (USD $)	3 Months Ended		6 Months Ended
In Millions, unless otherwise specified	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013	Dec. 31, 2013
Income Taxes [Line Items]	'	'	'	'	'
Effective income tax rate	30.70%	32.00%	31.20%	31.00%	'
Gross liability for uncertain tax positions	$10.30	'	$10.30	'	$10.50
Unrecognized tax benefits if recognized that would affect effective tax rate	4.5	'	4.5	'	4.7
Accrued interest	1.7	'	1.7	'	1.5
Accrued penalties	1.1	'	1.1	'	0.9
Unrecognized tax benefits subject to change with in the next 12 months	$0.20	'	$0.20	'	'

Computation_of_Basic_and_Dilut

Computation of Basic and Diluted Earnings Per Share (Detail) (USD $)	3 Months Ended				6 Months Ended
In Thousands, except Per Share data, unless otherwise specified	Jun. 30, 2014		Jun. 30, 2013		Jun. 30, 2014		Jun. 30, 2013
Earnings Per Share Basic And Diluted By Common Class [Line Items]	'		'		'		'
Net income attributable to Wabtec shareholders	$88,705		$74,638		$168,839		$144,251
Less: dividends declared - common shares and non-vested restricted stock	-3,863		-2,410		-7,691		-4,796
Undistributed earnings	84,842		72,228		161,148		139,455
Percentage allocated to common shareholders	99.60%	[1]	99.60%	[1]	99.60%	[2]	99.50%	[2]
Undistributed earnings allocated to common shareholders	84,503		71,939		160,503		138,758
Add: dividends declared - common shares	3,849		2,399		7,657		4,772
Numerator for basic and diluted earnings per common share	$88,352		$74,338		$168,160		$143,530
Denominator for basic earnings per common share - weighted average shares	96,048		95,762		95,674		95,243
Assumed conversion of dilutive stock-based compensation plans	1,010		1,340		1,153		1,363
Denominator for diluted earnings per common share - adjusted weighted average shares and assumed conversion	97,058		97,102		96,827		96,606
Basic	$0.92		$0.78		$1.76		$1.51
Diluted earnings per share, As reported	$0.91		$0.77		$1.74		$1.49
[1]	(1) Basic weighted-average common shares outstanding 96,048 95,762 Basic weighted-average common shares outstanding and non-vested restricted stock expected to vest 96,395 96,193 Percentage allocated to common shareholders 99.6% 99.6%
[2]	(1) Basic weighted-average common shares outstanding 95,674 95,243 Basic weighted-average common shares outstanding and non-vested restricted stock expected to vest 96,094 95,724 Percentage allocated to common shareholders 99.6% 99.5%  Â

Computation_of_Basic_and_Dilut1

Computation of Basic and Diluted Earnings Per Share (Parenthetical) (Detail)	3 Months Ended				6 Months Ended
In Thousands, unless otherwise specified	Jun. 30, 2014		Jun. 30, 2013		Jun. 30, 2014		Jun. 30, 2013
Earnings Per Share Basic And Diluted By Common Class [Line Items]	'		'		'		'
Denominator for basic earnings per common share - weighted average shares	96,048		95,762		95,674		95,243
Basic weighted-average common shares outstanding and non-vested restricted stock expected to vest	96,395		96,193		96,094		95,724
Percentage allocated to common shareholders	99.60%	[1]	99.60%	[1]	99.60%	[2]	99.50%	[2]
[1]	(1) Basic weighted-average common shares outstanding 96,048 95,762 Basic weighted-average common shares outstanding and non-vested restricted stock expected to vest 96,395 96,193 Percentage allocated to common shareholders 99.6% 99.6%
[2]	(1) Basic weighted-average common shares outstanding 95,674 95,243 Basic weighted-average common shares outstanding and non-vested restricted stock expected to vest 96,094 95,724 Percentage allocated to common shareholders 99.6% 99.5%  Â

Changes_in_Product_Warranty_Re

Changes in Product Warranty Reserve (Detail) (USD $)	6 Months Ended
In Thousands, unless otherwise specified	Jun. 30, 2014	Jun. 30, 2013
Guarantee Obligations [Line Items]	'	'
Balance at beginning of period	$60,593	$58,212
Warranty expense	15,328	13,851
Acquisitions	3,567	1,776
Warranty claim payments	-8,816	-10,665
Foreign currency impact/other	447	-1,400
Balance at end of period	$71,119	$61,774

Liabilities_Carried_at_Fair_Va

Liabilities Carried at Fair Value Measured on Recurring Basis (Detail) (Fair Value, Measurements, Recurring, USD $)	Jun. 30, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]	'	'
Fair value, liabilities measured on recurring basis, derivative financial instruments, liabilities	$3,494	$3,005
Fair Value, Inputs, Level 2	'	'
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]	'	'
Fair value, liabilities measured on recurring basis, derivative financial instruments, liabilities	3,494	3,005
Forward Starting Interest Rate Swap Agreement	'	'
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]	'	'
Fair value, liabilities measured on recurring basis, derivative financial instruments, liabilities	3,494	3,005
Forward Starting Interest Rate Swap Agreement | Fair Value, Inputs, Level 2	'	'
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]	'	'
Fair value, liabilities measured on recurring basis, derivative financial instruments, liabilities	$3,494	$3,005

Estimated_Fair_Values_and_Rela

Estimated Fair Values and Related Carrying Values of Financial Instruments (Detail) (USD $)	Jun. 30, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified
Forward Starting Interest Rate Swap Agreement | Carry Value	'	'
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]	'	'
Fair value, liabilities measured on recurring basis, derivative financial instruments, liabilities	$3,494	$3,005
Forward Starting Interest Rate Swap Agreement | Fair Value	'	'
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]	'	'
Fair value, liabilities measured on recurring basis, derivative financial instruments, liabilities	3,494	3,005
4.375% Senior Notes, due 2023 | Carry Value	'	'
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]	'	'
Senior Notes	250,000	250,000
4.375% Senior Notes, due 2023 | Fair Value	'	'
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]	'	'
Senior Notes	$260,890	$253,135

Estimated_Fair_Values_and_Rela1

Estimated Fair Values and Related Carrying Values of Financial Instruments (Parenthetical) (Detail) (4.375% Senior Notes, due 2023)	Jun. 30, 2014
4.375% Senior Notes, due 2023	'
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]	'
Debt Instrument, Interest Rate, Stated Percentage	4.38%

Segment_Information_Additional

Segment Information - Additional Information (Detail)	6 Months Ended
	Jun. 30, 2014
	Segment
Segment Reporting Information [Line Items]	'
Number of reportable segment	2

Segment_Financial_Information_

Segment Financial Information (Detail) (USD $)	3 Months Ended		6 Months Ended
In Thousands, unless otherwise specified	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013
Segment Reporting Information [Line Items]	'	'	'	'
Net sales	$731,068	$638,002	$1,426,317	$1,253,512
Income (loss) from operations	132,323	112,554	254,169	216,221
Interest expense and other, net	-4,282	-2,865	-8,749	-7,060
Income from operations before income taxes	128,041	109,689	245,420	209,161
External Customers	'	'	'	'
Segment Reporting Information [Line Items]	'	'	'	'
Net sales	731,068	638,002	1,426,317	1,253,512
Intersegment Sales/(Elimination)	'	'	'	'
Segment Reporting Information [Line Items]	'	'	'	'
Net sales	'	'	'	'
Operating Segments | Freight Segment	'	'	'	'
Segment Reporting Information [Line Items]	'	'	'	'
Net sales	421,612	362,771	814,301	683,510
Income (loss) from operations	100,283	78,601	192,214	148,436
Interest expense and other, net	'	'	'	'
Income from operations before income taxes	100,283	78,601	192,214	148,436
Operating Segments | Freight Segment | External Customers	'	'	'	'
Segment Reporting Information [Line Items]	'	'	'	'
Net sales	411,502	354,857	797,008	668,536
Operating Segments | Freight Segment | Intersegment Sales/(Elimination)	'	'	'	'
Segment Reporting Information [Line Items]	'	'	'	'
Net sales	10,110	7,914	17,293	14,974
Operating Segments | Transit Segment	'	'	'	'
Segment Reporting Information [Line Items]	'	'	'	'
Net sales	321,007	284,550	633,583	587,741
Income (loss) from operations	36,757	35,893	71,275	74,474
Interest expense and other, net	'	'	'	'
Income from operations before income taxes	36,757	35,893	71,275	74,474
Operating Segments | Transit Segment | External Customers	'	'	'	'
Segment Reporting Information [Line Items]	'	'	'	'
Net sales	319,566	283,145	629,309	584,976
Operating Segments | Transit Segment | Intersegment Sales/(Elimination)	'	'	'	'
Segment Reporting Information [Line Items]	'	'	'	'
Net sales	1,441	1,405	4,274	2,765
Corporate Activities and Elimination	'	'	'	'
Segment Reporting Information [Line Items]	'	'	'	'
Net sales	-11,551	-9,319	-21,567	-17,739
Income (loss) from operations	-4,717	-1,940	-9,320	-6,689
Interest expense and other, net	-4,282	-2,865	-8,749	-7,060
Income from operations before income taxes	-8,999	-4,805	-18,069	-13,749
Corporate Activities and Elimination | External Customers	'	'	'	'
Segment Reporting Information [Line Items]	'	'	'	'
Net sales	'	'	'	'
Corporate Activities and Elimination | Intersegment Sales/(Elimination)	'	'	'	'
Segment Reporting Information [Line Items]	'	'	'	'
Net sales	($11,551)	($9,319)	($21,567)	($17,739)

Sales_by_Product_Detail

Sales by Product (Detail) (USD $)	3 Months Ended		6 Months Ended
In Thousands, unless otherwise specified	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013
Segment Reporting Information [Line Items]	'	'	'	'
Net sales	$731,068	$638,002	$1,426,317	$1,253,512
Specialty Products & Electronics	'	'	'	'
Segment Reporting Information [Line Items]	'	'	'	'
Net sales	312,119	264,557	590,859	500,627
Remanufacturing, Overhaul & Build	'	'	'	'
Segment Reporting Information [Line Items]	'	'	'	'
Net sales	159,575	160,808	331,824	327,534
Brake Products	'	'	'	'
Segment Reporting Information [Line Items]	'	'	'	'
Net sales	160,664	139,410	316,269	280,732
Other Transit Products	'	'	'	'
Segment Reporting Information [Line Items]	'	'	'	'
Net sales	53,011	52,379	103,537	103,428
Other	'	'	'	'
Segment Reporting Information [Line Items]	'	'	'	'
Net sales	$45,699	$20,848	$83,828	$41,191

Components_of_Other_Income_Exp

Components of Other Income Expense (Detail) (USD $)	3 Months Ended		6 Months Ended
In Thousands, unless otherwise specified	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013
Components Of Other Income Expense [Line Items]	'	'	'	'
Foreign currency gain (loss)	$262	($1,004)	($99)	($1,931)
Other miscellaneous (expense) income	-19	1,410	325	1,756
Total other income (expense), net	$243	$406	$226	($175)