Westinghouse Air Brake Technologies (WAB) 10-Q 7 Nov 16 2016 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Sep. 30, 2016	Nov. 04, 2016
Document And Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Sep. 30, 2016
Document Fiscal Year Focus	2,016
Document Fiscal Period Focus	Q3
Trading Symbol	WAB
Entity Registrant Name	WESTINGHOUSE AIR BRAKE TECHNOLOGIES CORP
Entity Central Index Key	943,452
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding		89,073,431

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Sep. 30, 2016	Dec. 31, 2015
Current Assets
Cash and cash equivalents	$ 250,382	$ 226,191
Accounts receivable	477,500	494,975
Unbilled accounts receivable	146,726	103,814
Inventories	495,998	478,574
Deposit in escrow	210,025	202,942
Deferred income taxes	75,741	71,658
Other current assets	38,760	33,524
Total current assets	1,695,132	1,611,678
Property, plant and equipment	750,547	717,295
Accumulated depreciation	(392,577)	(364,102)
Property, plant and equipment, net	357,970	353,193
Other Assets
Goodwill	877,054	858,532
Other intangibles, net	457,262	440,534
Other noncurrent assets	40,739	32,909
Total other assets	1,375,055	1,331,975
Total Assets	3,428,157	3,296,846
Current Liabilities
Accounts payable	276,539	319,525
Customer deposits	108,718	106,127
Accrued compensation	54,984	69,892
Accrued warranty	76,465	72,678
Current portion of long-term debt	134	433
Other accrued liabilities	108,095	96,121
Total current liabilities	624,935	664,776
Long-term debt	819,770	691,805
Accrued postretirement and pension benefits	55,609	55,765
Deferred income taxes	156,900	139,852
Accrued warranty	17,645	19,386
Other long-term liabilities	22,807	23,923
Total liabilities	1,697,666	1,595,507
Commitments and contingent liabilities (Note15)
Shareholders’ Equity
Preferred stock, 1,000,000 shares authorized, no shares issued	0	0
Common stock, $0.01 par value; 200,000,000 shares authorized: 132,349,534 shares issued and 89,065,387 and 91,836,106 outstanding at June 30, 2016 and December 31, 2015, respectively	1,323	1,323
Additional paid-in capital	470,908	469,326
Treasury stock, at cost, 43,284,147 and 40,513,428 shares, at September 30, 2016 and December 31, 2015, respectively	(983,456)	(775,124)
Retained earnings	2,524,354	2,280,801
Accumulated other comprehensive loss	(286,055)	(276,719)
Total Westinghouse Air Brake Technologies Corporation shareholders' equity	1,727,074	1,699,607
Non-controlling interest (minority interest)	3,417	1,732
Total shareholders’ equity	1,730,491	1,701,339
Total Liabilities and Shareholders’ Equity	$ 3,428,157	$ 3,296,846

CONDENSED CONSOLIDATED BALANCE3

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Sep. 30, 2016	Dec. 31, 2015
Statement of Financial Position [Abstract]
Preferred stock, shares authorized (in shares)	1,000,000	1,000,000
Preferred stock, shares issued (in shares)	0	0
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	200,000,000	200,000,000
Common stock, shares issued (in shares)	132,349,534	132,349,534
Common stock, shares outstanding (in shares)	89,065,387	91,836,106
Treasury stock, shares (in shares)	43,284,147	40,513,428

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF INCOME - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Income Statement [Abstract]
Net sales	$ 675,574	$ 809,527	$ 2,171,206	$ 2,475,149
Cost of sales	(463,093)	(552,458)	(1,466,156)	(1,694,961)
Gross profit	212,481	257,069	705,050	780,188
Selling, general and administrative expenses	(70,757)	(82,206)	(241,118)	(255,969)
Engineering expenses	(16,289)	(17,239)	(52,271)	(51,852)
Amortization expense	(5,339)	(5,546)	(16,100)	(16,009)
Total operating expenses	(92,385)	(104,991)	(309,489)	(323,830)
Income from operations	120,096	152,078	395,561	456,358
Other income and expenses
Interest expense, net	(6,057)	(4,351)	(15,897)	(12,698)
Other income (expense), net	1,188	(2,937)	113	(7,690)
Income from operations before income taxes	115,227	144,790	379,777	435,970
Income tax expense	(32,799)	(45,609)	(112,701)	(139,121)
Net income attributable to Wabtec shareholders	$ 82,428	$ 99,181	$ 267,076	$ 296,849
Basic
Net income attributable to Wabtec shareholders (in dollars per share)	$ 0.92	$ 1.03	$ 2.94	$ 3.08
Diluted
Net income attributable to Wabtec shareholders (in dollars per share)	$ 0.91	$ 1.02	$ 2.92	$ 3.05
Weighted average shares outstanding
Basic shares outstanding (in shares)	89,589	96,369	90,546	96,135
Diluted shares outstanding (in shares)	90,293	97,368	91,316	97,162

CONDENSED CONSOLIDATED STATEME5

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Statement of Comprehensive Income [Abstract]
Net income attributable to Wabtec shareholders	$ 82,428	$ 99,181	$ 267,076	$ 296,849
Foreign currency translation gain (loss)	2,734	(48,474)	(7,385)	(100,323)
Unrealized gain (loss) on derivative contracts	1,169	(1,788)	(1,740)	(2,544)
Unrealized gain (loss) on pension benefit plans and post-retirement benefit plans	982	2,586	(652)	5,586
Other comprehensive income (loss) before tax	4,885	(47,676)	(9,777)	(97,281)
Income tax (expense) benefit related to components of other comprehensive (loss) income	(594)	164	441	(441)
Other comprehensive income (loss), net of tax	4,291	(47,512)	(9,336)	(97,722)
Comprehensive income attributable to Wabtec shareholders	$ 86,719	$ 51,669	$ 257,740	$ 199,127

CONDENSED CONSOLIDATED STATEME6

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015
Operating Activities
Net income attributable to Wabtec shareholders	$ 267,076	$ 296,849
Adjustments to reconcile net income to cash provided by operations:
Depreciation and amortization	49,375	48,167
Stock-based compensation expense	14,788	20,092
Loss on disposal of property, plant and equipment	151	1,804
Excess income tax benefits from exercise of stock options	(446)	(2,683)
Changes in operating assets and liabilities, net of acquisitions
Accounts receivable and unbilled accounts receivable	(38,362)	(881)
Inventories	2,301	(15,847)
Accounts payable	(43,777)	(80,701)
Accrued income taxes	5,952	20,964
Accrued liabilities and customer deposits	(8,353)	(12,911)
Other assets and liabilities	(1,812)	(19,547)
Net cash provided by operating activities	246,893	255,306
Investing Activities
Purchase of property, plant and equipment	(31,676)	(33,079)
Proceeds from disposal of property, plant and equipment	140	354
Acquisitions of businesses, net of cash acquired	(84,355)	(100,108)
Deposit in escrow	0	(209,128)
Net cash used for investing activities	(115,891)	(341,961)
Financing Activities
Proceeds from debt	346,000	390,300
Payments of debt	(215,850)	(460,308)
Purchase of treasury stock	(212,176)	(22,336)
Proceeds from exercise of stock options and other benefit plans	1,773	2,708
Excess income tax benefits from exercise of equity options	446	2,683
Payment of income tax withholding on share-based compensation	(9,006)	(14,565)
Cash dividends ($0.26 and $0.20 per share for the nine months ended September 30, 2016 and 2015, respectively)	(23,523)	(19,315)
Net cash used for financing activities	(112,336)	(120,833)
Effect of changes in currency exchange rates	5,525	(10,120)
Increase (Decrease) in cash	24,191	(217,608)
Cash, beginning of period	226,191	425,849
Cash, end of period	$ 250,382	$ 208,241

CONDENSED CONSOLIDATED STATEME7

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Parenthetical) - $ / shares	9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015
Statement of Cash Flows [Abstract]
Cash dividends, per share (in dollars per share)	$ 0.26	$ 0.20

Business

Business	9 Months Ended
	Sep. 30, 2016
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Business	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 21 countries. In the first nine months of 2016 , about 52% of the Company’s revenues came from customers outside the U.S.

Proposed Transaction with Faive

Proposed Transaction with Faiveley Transport S.A.	9 Months Ended
	Sep. 30, 2016
Business Combinations [Abstract]
Proposed Transaction with Faiveley Transport S.A.	PROPOSED TRANSACTION WITH FAIVELEY TRANSPORT S.A. On July 27, 2015, the Company announced plans to acquire all of the issued and outstanding shares of Faiveley Transport S.A. ("Faiveley Transport") under the terms of the Share Purchase Agreement and the Tender Offer Agreement. On October 24, 2016, the Company entered into amendments to the Share Purchase Agreement and the Tender Offer Agreement. Faiveley Transport is a leading global provider of value-added, integrated systems and services for the railway industry with annual sales of about $1.2 billion and more than 5,700 employees in 24 countries. Faiveley Transport supplies railway manufacturers, operators and maintenance providers with a range of valued-added, technology-based systems and services in Energy & Comfort (air conditioning, power collectors and converters, and passenger information), Access & Mobility (passenger access systems and platform doors), and Brakes & Safety (braking systems and couplers). Upon completion of the Acquisition, Faiveley Transport will become a subsidiary of Wabtec. The Acquisition has not yet been consummated and may not close on these terms, if at all: The transaction has been structured in three steps: • Wabtec has made an irrevocable offer to the owners of approximately 51% of Faiveley Transport’s shares for a purchase price of €100 per share, payable between 25% and 45% in cash at the election of those shareholders with the remainder in common stock. • Upon completion of required labor group consultations, on October 6, 2015, the 51% shareholders entered into a definitive share purchase agreement, which was amended on October 24, 2016, and Faiveley Transport entered into the Tender Offer Agreement with Wabtec. • Upon completing the share purchase under the Share Purchase Agreement, Wabtec will commence a tender offer for the remaining publicly traded Faiveley Transport shares. The public shareholders will have the option to elect to receive €100 per share in cash or Wabtec common stock. The common stock portion of the consideration is subject to a cap on issuance of Faiveley common shares that will be equivalent to the rates of cash and stock elected by the 51% owners. Wabtec intends to delist Faiveley Transport from Euronext after the tender offer if minority interests represent less than 5% . The total purchase price offered is about $1.7 billion , including assumed debt, net of cash acquired. Wabtec plans to fund the cash portion of the transaction with cash on hand (including cash held in escrow), existing credit facilities and new credit arrangements. Prior to December 31, 2015 , Wabtec set aside €186.9 million as an escrow deposit for the Faiveley Transport purchase. The combination of Wabtec and Faiveley Transport would create one of the world’s largest public rail equipment companies, with revenues of over $4.3 billion and a presence in all key freight rail and passenger transit geographies worldwide. Closing of the transaction is subject to various conditions, including completion of regulatory requirements. These steps are currently on-going and the timing of completion is unknown. ACQUISITIONS The Company has made the following acquisitions operating as a business unit or component of a business unit in the Freight Segment: • On May 5, 2016 , the Company acquired Unitrac Railroad Materials ("Unitrac"), a leading designer and manufacturer of railroad products and track work services for a purchase price of approximately $14.4 million , net of cash acquired, resulting in preliminary goodwill of $1.0 million , all of which will be deductible for tax purposes. • On October 30, 2015 , the Company acquired Relay Monitoring Systems PTY Ltd. ("RMS"), an Australian based manufacturer of electrical protection and control products for a purchase price of approximately $18.7 million , net of cash acquired, resulting in preliminary goodwill of $8.8 million , none of which will be deductible for tax purposes. • On October 8, 2015 , the Company acquired Track IQ, an Australian based manufacturer of wayside sensor systems for the global rail industry for a purchase price of approximately $9.3 million , net of cash acquired, resulting in preliminary goodwill of $ 6.3 million , all of which will be deductible for tax purposes. • On February 4, 2015 , the Company acquired Railroad Controls L.P. ("RCL"), a provider of railway signal construction services, for a purchase price of approximately $78.0 million , net of cash acquired, resulting in goodwill of $14.8 million , all of which will be deductible for tax purposes. The Company has made the following acquisitions operating as a business unit or component of a business unit in the Transit Segment: • On August 1, 2016 , the Company acquired Gerken Group SA ("Gerken"), a manufacturer of specialty carbon and graphite products for rail and other industrial applications, for a purchase price of approximately $62.8 million , net of cash acquired, resulting in preliminary goodwill of $16.2 million , none of which will be deductible for tax purposes. • On June 17, 2015 , the Company acquired Metalocaucho (“MTC”), a manufacturer of transit products, primarily rubber components for suspension and vibration control systems, for a purchase price of approximately $23.4 million , net of cash acquired, resulting in goodwill of $13.2 million , none of which will be deductible for tax purposes. The acquisitions listed above include escrow deposits of $34.9 million , which act as security for indemnity and other claims in accordance with the purchase and related escrow agreements. For the Gerken, Unitrac, RMS, and Track IQ 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 MTC and RCL acquisitions, the following table summarizes the final fair value of the assets acquired and liabilities assumed at the date of acquisition. Gerken Unitrac RMS Track IQ MTC RCL In thousands August 1, May 5, October 30, October 8, June 17, February 4, Current assets $ 33,003 $ 12,526 $ 3,605 $ 660 $ 10,348 $ 16,421 Property, plant & equipment 7,667 1,768 1,378 172 1,450 12,136 Goodwill 16,191 998 8,847 6,333 13,198 14,787 Other intangible assets 32,098 1,230 8,621 3,246 7,650 40,403 Other assets 1,706 — — — 114 — Total assets acquired 90,665 16,522 22,451 10,411 32,760 83,747 Total liabilities assumed (27,818 ) (2,144 ) (3,741 ) (1,099 ) (9,400 ) (5,736 ) Net assets acquired $ 62,847 $ 14,378 $ 18,710 $ 9,312 $ 23,360 $ 78,011 Of the $93.2 million of total acquired other intangible assets, $70.4 million was assigned to customer relationships, $15.8 million was assigned to trade names, $0.4 million was assigned to non-compete agreements, $1.4 million was assigned to customer backlog, and $5.2 million was assigned to intellectual property. The trade names were determined to have indefinite useful lives, while the intellectual property and customer relationships’ average useful lives are 20 years , and the non-compete useful life is five years . The Company also made smaller acquisitions not listed above. The following unaudited pro forma consolidated financial information presents income statement results as if the acquisitions listed above had occurred on January 1, 2015: In thousands Three Months Ended Three Months Ended Nine Months Ended September 30, 2016 Nine Months Ended September 30, 2015 Net sales $ 679,114 $ 833,138 $ 2,205,757 $ 2,562,576 Gross profit 213,755 267,377 715,080 816,828 Net income attributable to Wabtec shareholders 82,848 101,766 270,368 304,568 Diluted earnings per share As Reported $ 0.91 $ 1.02 $ 2.92 $ 3.05 Pro forma $ 0.91 $ 1.04 $ 2.95 $ 3.13

Accounting Policies

Accounting Policies	9 Months Ended
	Sep. 30, 2016
Accounting Policies [Abstract]
Accounting Policies	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, 2015 . The December 31, 2015 information has been derived from the Company’s Annual Report on Form 10-K for the year ended December 31, 2015 . 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 $146.7 million and $103.8 million , customer deposits were $108.7 million and $106.1 million , and provisions for loss contracts were $13.9 million and $11.8 million at September 30, 2016 and December 31, 2015 , respectively. Pre-Production Costs Certain pre-production costs relating to long-term production and supply contracts have been deferred and will be recognized over the life of the contracts. Deferred pre-production costs were $28.1 million and $30.3 million at September 30, 2016 and December 31, 2015 , respectively. Reclassifications Certain prior year amounts have been reclassified, where necessary, to conform to the current year presentation. Refer to Recent Accounting Pronouncements below. Use of Estimates The preparation of financial statements in conformity with generally accepted accounting principles in the United States requires the Company to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements and reported amounts of revenues and expenses during the reporting period. Actual amounts could differ 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 As part of its risk management strategy, the Company utilizes derivative financial instruments to manage its exposure due to changes in foreign currencies and interest rates. For further information regarding financial derivatives and hedging activities, refer to Footnotes 13 and 14. 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 period. Foreign currency gains and losses resulting from transactions and the translation of financial statements are recorded in the Company’s consolidated financial statements based upon the provisions of ASC 830 “Foreign Currency Matters.” The effects of currency exchange rate changes on intercompany transactions and balances of a long-term investment nature are accumulated and carried as a component of accumulated other comprehensive loss. The effects of currency exchange rate changes on intercompany transactions that are denominated in a currency other than an entity’s functional currency are charged or credited to earnings. Non-controlling Interests In accordance with ASC 810 "Consolidation", the Company has classified non-controlling interests as equity on our condensed consolidated balance sheets as of September 30, 2016 and December 31, 2015 . Net income attributable to non-controlling interests for the three and nine months ended September 30, 2016 and 2015 was not material. Recent Accounting Pronouncements In April 2015, the FASB issued Accounting Standards Update No. 2015-3, “Simplifying the Presentation of Debt Issuance Costs” (“ASU 2015-3”) which changes the presentation of debt issuance costs in financial statements to present such costs as a direct deduction from the related debt liability rather than as an asset. ASU 2015-3 became effective for public companies during interim and annual reporting periods beginning after December 15, 2015. The Company retrospectively adopted this ASU on January 1, 2016. The adoption of this ASU did not have a material impact to its consolidated financial statements. In May 2014, the FASB issued ASU No. 2014-9, “Revenue from Contract with Customers.” The ASU will supersede most of the existing revenue recognition requirements in U.S. GAAP and will require entities to recognize revenue at an amount that reflects the consideration to which the Company expects to be entitled in exchange for transferring goods or services to a customer. The new standard also requires significantly expanded disclosures regarding the qualitative and quantitative information of an entity’s nature, amount, timing and uncertainty of revenue and cash flows arising from contracts with customers. The Board voted to propose that the standard would take effect for reporting periods beginning after December 15, 2017 and that early adoption would be allowed as of the original effective date. The Company is currently evaluating the impact the pronouncement will have on its consolidated financial statements and related disclosures. In March 2016, the FASB issued Accounting Standards Update No. 2016-09, “Compensation - Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting” (ASU 2016-09”). The ASU simplifies several aspects for the accounting for share-based payment transactions, including the income tax consequences, classification of awards as either equity or liabilities, and classification on the statement of cash flows. The ASU is effective for public companies in the fiscal years beginning after December 15, 2016, and interim periods within those fiscal years. Early adoption is permitted. The Company is currently evaluating the potential impact of adopting this guidance on its consolidated financial statements. 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 nine months ended September 30, 2016 are as follows: In thousands Foreign currency translation Derivative contracts Pension and post retirement benefit plans Total Balance at December 31, 2015 $ (227,349 ) $ (2,987 ) $ (46,383 ) $ (276,719 ) Other comprehensive (loss) before reclassifications (7,385 ) (2,192 ) (1,969 ) (11,546 ) Amounts reclassified from accumulated other comprehensive income — 883 1,327 2,210 Net current period other comprehensive (loss) (7,385 ) (1,309 ) (642 ) (9,336 ) Balance at September 30, 2016 $ (234,734 ) $ (4,296 ) $ (47,025 ) $ (286,055 ) Reclassifications out of accumulated other comprehensive loss for the three months ended September 30, 2016 are as follows: In thousands Amount reclassified from accumulated other comprehensive income Affected line item in the Condensed Consolidated Statements of Income Amortization of defined pension and post retirement items Amortization of initial net obligation and prior service cost $ 6 Cost of sales Amortization of net loss 611 Cost of sales 617 Income from Operations (175 ) Income tax expense $ 442 Net income Derivative contracts Realized loss on derivative contracts $ 338 Interest expense, net (96 ) Income tax expense $ 242 Net income Reclassifications out of accumulated other comprehensive loss for the nine months ended September 30, 2016 are as follows: In thousands Amount reclassified from accumulated other comprehensive income Affected line item in the Condensed Consolidated Statements of Income Amortization of defined pension and post retirement items Amortization of initial net obligation and prior service cost $ (801 ) Cost of sales Amortization of net loss 2,702 Cost of sales 1,901 Income from Operations (574 ) Income tax expense $ 1,327 Net income Derivative contracts Realized loss on derivative contracts $ 1,265 Interest expense, net (382 ) Income tax expense $ 883 Net income

Acquisitions

Acquisitions	9 Months Ended
	Sep. 30, 2016
Business Combinations [Abstract]
Acquisitions	PROPOSED TRANSACTION WITH FAIVELEY TRANSPORT S.A. On July 27, 2015, the Company announced plans to acquire all of the issued and outstanding shares of Faiveley Transport S.A. ("Faiveley Transport") under the terms of the Share Purchase Agreement and the Tender Offer Agreement. On October 24, 2016, the Company entered into amendments to the Share Purchase Agreement and the Tender Offer Agreement. Faiveley Transport is a leading global provider of value-added, integrated systems and services for the railway industry with annual sales of about $1.2 billion and more than 5,700 employees in 24 countries. Faiveley Transport supplies railway manufacturers, operators and maintenance providers with a range of valued-added, technology-based systems and services in Energy & Comfort (air conditioning, power collectors and converters, and passenger information), Access & Mobility (passenger access systems and platform doors), and Brakes & Safety (braking systems and couplers). Upon completion of the Acquisition, Faiveley Transport will become a subsidiary of Wabtec. The Acquisition has not yet been consummated and may not close on these terms, if at all: The transaction has been structured in three steps: • Wabtec has made an irrevocable offer to the owners of approximately 51% of Faiveley Transport’s shares for a purchase price of €100 per share, payable between 25% and 45% in cash at the election of those shareholders with the remainder in common stock. • Upon completion of required labor group consultations, on October 6, 2015, the 51% shareholders entered into a definitive share purchase agreement, which was amended on October 24, 2016, and Faiveley Transport entered into the Tender Offer Agreement with Wabtec. • Upon completing the share purchase under the Share Purchase Agreement, Wabtec will commence a tender offer for the remaining publicly traded Faiveley Transport shares. The public shareholders will have the option to elect to receive €100 per share in cash or Wabtec common stock. The common stock portion of the consideration is subject to a cap on issuance of Faiveley common shares that will be equivalent to the rates of cash and stock elected by the 51% owners. Wabtec intends to delist Faiveley Transport from Euronext after the tender offer if minority interests represent less than 5% . The total purchase price offered is about $1.7 billion , including assumed debt, net of cash acquired. Wabtec plans to fund the cash portion of the transaction with cash on hand (including cash held in escrow), existing credit facilities and new credit arrangements. Prior to December 31, 2015 , Wabtec set aside €186.9 million as an escrow deposit for the Faiveley Transport purchase. The combination of Wabtec and Faiveley Transport would create one of the world’s largest public rail equipment companies, with revenues of over $4.3 billion and a presence in all key freight rail and passenger transit geographies worldwide. Closing of the transaction is subject to various conditions, including completion of regulatory requirements. These steps are currently on-going and the timing of completion is unknown. ACQUISITIONS The Company has made the following acquisitions operating as a business unit or component of a business unit in the Freight Segment: • On May 5, 2016 , the Company acquired Unitrac Railroad Materials ("Unitrac"), a leading designer and manufacturer of railroad products and track work services for a purchase price of approximately $14.4 million , net of cash acquired, resulting in preliminary goodwill of $1.0 million , all of which will be deductible for tax purposes. • On October 30, 2015 , the Company acquired Relay Monitoring Systems PTY Ltd. ("RMS"), an Australian based manufacturer of electrical protection and control products for a purchase price of approximately $18.7 million , net of cash acquired, resulting in preliminary goodwill of $8.8 million , none of which will be deductible for tax purposes. • On October 8, 2015 , the Company acquired Track IQ, an Australian based manufacturer of wayside sensor systems for the global rail industry for a purchase price of approximately $9.3 million , net of cash acquired, resulting in preliminary goodwill of $ 6.3 million , all of which will be deductible for tax purposes. • On February 4, 2015 , the Company acquired Railroad Controls L.P. ("RCL"), a provider of railway signal construction services, for a purchase price of approximately $78.0 million , net of cash acquired, resulting in goodwill of $14.8 million , all of which will be deductible for tax purposes. The Company has made the following acquisitions operating as a business unit or component of a business unit in the Transit Segment: • On August 1, 2016 , the Company acquired Gerken Group SA ("Gerken"), a manufacturer of specialty carbon and graphite products for rail and other industrial applications, for a purchase price of approximately $62.8 million , net of cash acquired, resulting in preliminary goodwill of $16.2 million , none of which will be deductible for tax purposes. • On June 17, 2015 , the Company acquired Metalocaucho (“MTC”), a manufacturer of transit products, primarily rubber components for suspension and vibration control systems, for a purchase price of approximately $23.4 million , net of cash acquired, resulting in goodwill of $13.2 million , none of which will be deductible for tax purposes. The acquisitions listed above include escrow deposits of $34.9 million , which act as security for indemnity and other claims in accordance with the purchase and related escrow agreements. For the Gerken, Unitrac, RMS, and Track IQ 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 MTC and RCL acquisitions, the following table summarizes the final fair value of the assets acquired and liabilities assumed at the date of acquisition. Gerken Unitrac RMS Track IQ MTC RCL In thousands August 1, May 5, October 30, October 8, June 17, February 4, Current assets $ 33,003 $ 12,526 $ 3,605 $ 660 $ 10,348 $ 16,421 Property, plant & equipment 7,667 1,768 1,378 172 1,450 12,136 Goodwill 16,191 998 8,847 6,333 13,198 14,787 Other intangible assets 32,098 1,230 8,621 3,246 7,650 40,403 Other assets 1,706 — — — 114 — Total assets acquired 90,665 16,522 22,451 10,411 32,760 83,747 Total liabilities assumed (27,818 ) (2,144 ) (3,741 ) (1,099 ) (9,400 ) (5,736 ) Net assets acquired $ 62,847 $ 14,378 $ 18,710 $ 9,312 $ 23,360 $ 78,011 Of the $93.2 million of total acquired other intangible assets, $70.4 million was assigned to customer relationships, $15.8 million was assigned to trade names, $0.4 million was assigned to non-compete agreements, $1.4 million was assigned to customer backlog, and $5.2 million was assigned to intellectual property. The trade names were determined to have indefinite useful lives, while the intellectual property and customer relationships’ average useful lives are 20 years , and the non-compete useful life is five years . The Company also made smaller acquisitions not listed above. The following unaudited pro forma consolidated financial information presents income statement results as if the acquisitions listed above had occurred on January 1, 2015: In thousands Three Months Ended Three Months Ended Nine Months Ended September 30, 2016 Nine Months Ended September 30, 2015 Net sales $ 679,114 $ 833,138 $ 2,205,757 $ 2,562,576 Gross profit 213,755 267,377 715,080 816,828 Net income attributable to Wabtec shareholders 82,848 101,766 270,368 304,568 Diluted earnings per share As Reported $ 0.91 $ 1.02 $ 2.92 $ 3.05 Pro forma $ 0.91 $ 1.04 $ 2.95 $ 3.13

Inventories

Inventories	9 Months Ended
	Sep. 30, 2016
Inventory Disclosure [Abstract]
Inventories	INVENTORIES The components of inventory, net of reserves, were: In thousands September 30, December 31, Raw materials $ 200,020 $ 180,128 Work-in-progress 174,570 171,217 Finished goods 121,408 127,229 Total inventories $ 495,998 $ 478,574

Intangibles

Intangibles	9 Months Ended
	Sep. 30, 2016
Goodwill and Intangible Assets Disclosure [Abstract]
Intangibles	INTANGIBLES The change in the carrying amount of goodwill by segment for the nine months ended September 30, 2016 is as follows: In thousands Freight Segment Transit Segment Total Balance at December 31, 2015 $ 531,965 $ 326,567 $ 858,532 Adjustment to preliminary purchase allocation 1,091 1,038 2,129 Acquisitions 2,956 16,191 19,147 Foreign currency impact (6,782 ) 4,028 (2,754 ) Balance at September 30, 2016 $ 529,230 $ 347,824 $ 877,054 As of September 30, 2016 and December 31, 2015 , the Company’s trade names had a net carrying amount of $178.2 million and $167.4 million , respectively, and the Company believes these intangibles have indefinite lives. Intangible assets of the Company, other than goodwill and trade names, consist of the following: In thousands September 30, December 31, Patents, non-compete and other intangibles, net of accumulated amortization of $42,771 and $40,936 $ 13,850 $ 11,403 Customer relationships, net of accumulated amortization of $82,462 and $70,493 265,208 261,751 Total $ 279,058 $ 273,154 The weighted average remaining useful life of patents, customer relationships and other intangibles were 10 years , 16 years and 17 years , respectively. Amortization expense for intangible assets was $5.3 million and $16.1 million for three and nine months ended September 30, 2016 , and $5.5 million and $16.0 million for the three and nine months ended September 30, 2015 . Amortization expense for the five succeeding years is estimated to be as follows: Remainder of 2016 $ 5,410 2017 20,424 2018 19,721 2019 19,016 2020 17,838

Long-Term Debt

Long-Term Debt	9 Months Ended
	Sep. 30, 2016
Debt Disclosure [Abstract]
Long-Term Debt	LONG-TERM DEBT Long-term debt consisted of the following: In thousands September 30, December 31, 4.375% Senior Notes, due 2023, net of unamortized $ 248,245 $ 248,053 Revolving Credit Facility, net of unamortized 571,289 443,458 Capital Leases 370 727 Total 819,904 692,238 Less - current portion 134 433 Long-term portion $ 819,770 $ 691,805 2016 Refinancing Credit Agreement On June 22, 2016 , the Company amended its existing revolving credit facility with a consortium of commercial banks. This “2016 Refinancing Credit Agreement” provides the Company with a $1.2 billion , 5 year revolving credit facility and a $400.0 million delayed draw term loan (the “Term Loan”). The Company incurred approximately $2.9 million of deferred financing cost related to the 2016 Refinancing Credit Agreement. The facility expires on June 22, 2021 . The 2016 Refinancing Credit Agreement borrowings bear variable interest rates indexed as described below. At September 30, 2016 , the Company had available bank borrowing capacity, net of $22.5 million of letters of credit, of approximately $602.5 million , subject to certain financial covenant restrictions. The Term Loan is available for advance on or after June 22, 2016 until December 31, 2016 . The Company will incur a 10 basis point commitment fee from June 22, 2016 until the initial draw or cancellation of the Term Loan. Under the 2016 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 100 basis points . At September 30, 2016 , the weighted average interest rate on the Company’s variable rate debt was 1.53% . On January 12, 2012, 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 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. 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. As for these agreements, the Company is exposed to credit risk in the event of nonperformance by the counterparties. However, since only the cash interest payments are exchanged, exposure is significantly less than the notional amount. The counterparties are large financial institutions with excellent credit ratings and history of performance. The Company currently believes the risk of nonperformance is negligible. The 2016 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 2016 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 is in compliance with the restrictions and covenants of the 2016 Refinancing Credit Agreement and does not expect that these measurements will limit the Company in executing our operating activities. 2013 Refinancing Credit Agreement On December 19, 2013 , the Company amended its then existing revolving credit facility with a consortium of commercial banks. This “2013 Refinancing Credit Agreement” provided the Company with an $800.0 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 2013 Refinancing Credit Agreement was replaced by the 2016 Refinancing Credit Agreement. Under the 2013 Refinancing Credit Agreement, the Company could have elected a Base Rate of interest for U.S. Dollar denominated loans or, for certain currencies, an interest rate based on the LIBOR of interest, or other rates appropriate for such currencies (in any case, “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 the quoted rates specific to the applicable currency, 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. 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 of the 2013 Notes. 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.

Employee Benefit Plans

Employee Benefit Plans	9 Months Ended
	Sep. 30, 2016
Compensation and Retirement Disclosure [Abstract]
Employee Benefit Plans	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 In thousands, except percentages 2016 2015 2016 2015 Net periodic benefit cost Service cost $ 84 $ 95 $ 258 $ 506 Interest cost 369 479 1,257 1,801 Expected return on plan assets (519 ) (542 ) (2,437 ) (2,434 ) Net amortization/deferrals 229 266 397 655 Net periodic benefit (credit) cost $ 163 $ 298 $ (525 ) $ 528 Assumptions Discount Rate 4.21 % 3.95 % 3.56 % 3.48 % Expected long-term rate of return 5.70 % 5.70 % 5.81 % 5.79 % Rate of compensation increase 3.00 % 3.00 % 3.10 % 3.10 % U.S. International Nine Months Ended Nine Months Ended In thousands, except percentages 2016 2015 2016 2015 Net periodic benefit cost Service cost $ 252 $ 285 $ 986 $ 1,518 Interest cost 1,107 1,437 4,193 5,391 Expected return on plan assets (1,557 ) (1,626 ) (7,723 ) (7,284 ) Net amortization/deferrals 687 798 1,452 1,962 Curtailment loss recognized — — 240 — Net periodic benefit (credit) cost $ 489 $ 894 $ (852 ) $ 1,587 Assumptions Discount Rate 4.21 % 3.95 % 3.56 % 3.48 % Expected long-term rate of return 5.70 % 5.70 % 5.81 % 5.79 % Rate of compensation increase 3.00 % 3.00 % 3.10 % 3.10 % 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 $6.6 million to the international plans and does not expect to make a contribution to the U.S. plans during 2016. 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 postretirement benefit plans summarized by U.S. and international components. U.S. International Three Months Ended Three Months Ended In thousands, except percentages 2016 2015 2016 2015 Net periodic benefit cost Service cost $ 1 $ 2 $ 7 $ 11 Interest cost 97 308 25 35 Net amortization/deferrals (105 ) (234 ) (9 ) (10 ) Net periodic (credit) benefit cost $ (7 ) $ 76 $ 23 $ 36 Assumptions Discount Rate 3.95 % 3.95 % 3.90 % 3.96 % U.S. International Nine Months Ended Nine Months Ended In thousands, except percentages 2016 2015 2016 2015 Net periodic benefit cost Service cost $ 3 $ 6 $ 21 $ 33 Interest cost 291 924 75 105 Net amortization/deferrals (315 ) (702 ) (27 ) (29 ) Net periodic (credit) benefit cost $ (21 ) $ 228 $ 69 $ 109 Assumptions Discount Rate 3.95 % 3.95 % 3.90 % 3.96 % At December 31, 2015 , the Company changed the method it uses to estimate the service and interest cost components of net periodic benefit cost for pension and other postretirement benefit costs for all of its U.S. and International plans. Historically, the service and interest cost components were estimated using a single weighted-average discount rate derived from the yield curve used to measure the projected benefit obligation at the beginning of the period. The Company has elected to utilize an approach that discounts the individual expected cash flows underlying the service and interest cost using the applicable spot rates derived from the yield curve used in the determination of the benefit obligation to the relevant projected cash flows. The Company made this change to improve the correlation between projected benefit cash flows and the corresponding yield curve spot rates and to provide a more precise measurement of service and interest costs. The Company estimates the service and interest cost of the pension and OPEB plans will be reduced by approximately $1.6 million in 2016 as a result of this change. The Company has accounted for this change as a change in accounting estimate that is inseparable from a change in accounting principle and accordingly has accounted for it prospectively.

Stock-Based Compensation

Stock-Based Compensation	9 Months Ended
	Sep. 30, 2016
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Stock-Based Compensation	STOCK-BASED COMPENSATION As of September 30, 2016 , the Company maintains employee stock-based compensation plans for stock options, restricted stock, and incentive stock units as governed by the 2011 Stock Incentive Compensation Plan (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 (“the Directors Plan”). Stock-based compensation expense was $14.8 million and $20.1 million for the nine months ended September 30, 2016 and 2015 , respectively. Included in stock-based compensation expense for the nine months ended September 30, 2016 is $1.3 million of expense related to stock options, $4.5 million related to non-vested restricted stock, $2.2 million related to restricted stock units, $5.9 million related to incentive stock units and $0.9 million related to units issued for Directors’ fees. At September 30, 2016 , unamortized compensation expense related to those stock options, non-vested restricted shares units and incentive stock units expected to vest totaled $25.8 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 nine months ended September 30, 2016 : Options Weighted Average Exercise Price Weighted Average Remaining Contractual Life Aggregate Intrinsic value (in thousands) Outstanding at December 31, 2015 1,097,323 $ 32.70 4.8 $ 42,154 Granted 94,115 61.39 1,906 Exercised (72,746 ) 26.57 4,007 Canceled (8,825 ) 71.47 90 Outstanding at September 30, 2016 1,109,867 35.23 4.5 51,518 Exercisable at September 30, 2016 896,486 27.22 3.7 48,799 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: Nine Months Ended 2016 2015 Dividend yield 0.26 % 0.14 % Risk-free interest rate 1.47 % 1.82 % Stock price volatility 26.9 % 27.3 % Expected life (years) 5.0 5.0 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 that generally vests over four years from the date of grant. Under the Directors Plan, restricted stock units vest one year from the date of grant. In addition, the Company has issued incentive stock units to eligible employees that vest upon attainment of certain cumulative three year performance goals. Based on the Company’s performance for each three -year period then ended, the incentive stock units can vest and be awarded ranging from 0% to 200% of the initial incentive stock units granted. The incentive stock units included in the table below represent the number of shares that are expected to vest based on the Company’s estimate for meeting those established performance targets. As of September 30, 2016 , the Company estimates that it will achieve 119% , 92% and 92% for the incentive stock awards expected to vest based on performance for the three -year periods ending December 31, 2016 , 2017 , and 2018 , respectively, and has recorded incentive compensation expense accordingly. If our estimate of the number of these stock units expected to vest changes in a future accounting period, cumulative compensation expense could increase or decrease and will be recognized in the current period for the elapsed portion of the vesting period and would change future expense for the remaining vesting period. Compensation expense for the non-vested restricted stock and incentive stock units is based on the 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 activity and related information for the 2011 Plan, the 2000 Plan and the Directors Plan, and incentive stock units activity for the 2011 Plan and the 2000 Plan with related information for the nine months ended September 30, 2016 : Restricted Stock and Units Incentive Stock Awards Weighted Average Grant Date Fair Value Outstanding at December 31, 2015 356,885 541,638 $ 65.89 Granted 144,525 167,850 62.24 Vested (159,875 ) (236,591 ) 51.79 Adjustment for incentive stock awards expected to vest — (38,164 ) 74.42 Canceled (12,915 ) (9,983 ) 71.40 Outstanding at September 30, 2016 328,620 424,750 71.18

Income Taxes

Income Taxes	9 Months Ended
	Sep. 30, 2016
Income Tax Disclosure [Abstract]
Income Taxes	INCOME TAXES The overall effective income tax rate was 28.5% and 29.7% for the three and nine months ended September 30, 2016 , respectively, and 31.5% and 31.9% for the three and nine months ended September 30, 2015 , respectively. For the three and nine months ended September 30, 2016 , the decrease in the effective rate is primarily the result of a lower earnings mix in higher tax rate jurisdictions as well as a favorable adjustment for tax benefits related to uncertain tax positions due to the expiration of certain statutes of limitation. As of September 30, 2016 and December 31, 2015 , the liability for income taxes associated with uncertain tax positions was $9.5 million , of which $4.3 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 September 30, 2016 , the total accrued interest and penalties are $1.6 million and $2.0 million , respectively. As of December 31, 2015 , the total accrued interest and penalties were $2.0 million and $0.2 million , respectively. At this time, the Company believes that it is reasonably possible that unrecognized tax benefits of approximately $1.1 million may change within the next 12 months due to the expiration of statutory review periods and current examinations. With limited exceptions, the Company is no longer subject to examination by various U.S. and foreign taxing authorities for years before 2012.

Earnings Per Share

Earnings Per Share	9 Months Ended
	Sep. 30, 2016
Earnings Per Share [Abstract]
Earnings Per Share	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 In thousands, except per share data 2016 2015 Numerator Numerator for basic and diluted earnings per common share - net income attributable to Wabtec shareholders $ 82,428 $ 99,181 Less: dividends declared - common shares and non-vested restricted stock (8,958 ) (7,735 ) Undistributed earnings 73,470 91,446 Percentage allocated to common shareholders (1) 99.7 % 99.7 % 73,250 91,172 Add: dividends declared - common shares 8,933 7,713 Numerator for basic and diluted earnings per common share $ 82,183 $ 98,885 Denominator Denominator for basic earnings per common share - weighted average shares 89,589 96,369 Effect of dilutive securities: Assumed conversion of dilutive stock-based compensation plans 704 999 Denominator for diluted earnings per common share - adjusted weighted average shares and assumed conversion 90,293 97,368 Net income per common share attributable to Wabtec shareholders Basic $ 0.92 $ 1.03 Diluted $ 0.91 $ 1.02 (1) Basic weighted-average common shares outstanding 89,589 96,369 Basic weighted-average common shares outstanding and non-vested restricted stock expected to vest 89,838 96,647 Percentage allocated to common shareholders 99.7 % 99.7 % Nine Months Ended In thousands, except per share data 2016 2015 Numerator Numerator for basic and diluted earnings per common share - net income attributable to Wabtec shareholders $ 267,076 $ 296,849 Less: dividends declared - common shares and non-vested restricted stock (23,523 ) (19,315 ) Undistributed earnings 243,553 277,534 Percentage allocated to common shareholders (1) 99.7 % 99.7 % 242,822 276,701 Add: dividends declared - common shares 23,452 19,250 Numerator for basic and diluted earnings per common share $ 266,274 $ 295,951 Denominator Denominator for basic earnings per common share - weighted average shares 90,546 96,135 Effect of dilutive securities: Assumed conversion of dilutive stock-based compensation plans 770 1,027 Denominator for diluted earnings per common share - adjusted weighted average shares and assumed conversion 91,316 97,162 Net income per common share attributable to Wabtec shareholders Basic $ 2.94 $ 3.08 Diluted $ 2.92 $ 3.05 (1) Basic weighted-average common shares outstanding 90,546 96,135 Basic weighted-average common shares outstanding and non-vested restricted stock expected to vest 90,819 96,462 Percentage allocated to common shareholders 99.7 % 99.7 % 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	9 Months Ended
	Sep. 30, 2016
Product Warranties Disclosures [Abstract]
Warranties	WARRANTIES The following table reconciles the changes in the Company’s product warranty reserve as follows: In thousands 2016 2015 Balance at beginning of year $ 92,064 $ 87,849 Warranty expense 22,788 21,615 Acquisitions 7,571 6,001 Warranty claim payments (27,693 ) (18,961 ) Foreign currency impact/other (620 ) (1,554 ) Balance at September 30 $ 94,110 $ 94,950

Derivative Financial Instrument

Derivative Financial Instruments and Hedging	9 Months Ended
	Sep. 30, 2016
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative Financial Instruments and Hedging	DERIVATIVE FINANCIAL INSTRUMENTS AND HEDGING Foreign Currency Hedging The Company uses forward contracts to mitigate its foreign currency exchange rate exposure due to forecasted sales of finished goods and future settlement of foreign currency denominated assets and liabilities. Derivatives used to hedge forecasted transactions and specific cash flows associated with foreign currency denominated financial assets and liabilities that meet the criteria for hedge accounting are designated as cash flow hedges. The effective portion of gain and losses is deferred as a component of accumulated other comprehensive income and is recognized in earnings at the time the hedged item affects earnings, in the same line item as the underlying hedged item. At September 30, 2016 , the Company had outstanding foreign exchange contracts with a notional value of $8.0 million . The fair value of these hedges was a net liability of $0.6 million at September 30, 2016 . The notional amount and fair value of foreign exchange contracts at December 31, 2015 was not material. The contracts are scheduled to mature within two years. For the nine months ended September 30, 2016 , the amount reclassified into income was $0.5 million . Interest Rate Hedging The Company uses interest rate swaps to manage interest rate exposures. The Company is exposed to interest rate volatility with regard to existing floating rate debt. Primary exposure includes the London Interbank Offered Rates (LIBOR). Derivatives used to hedge risk associated with changes in the fair value of certain variable-rate debt are primarily designated as fair value hedges. Consequently, changes in the fair value of these derivatives, along with changes in the fair value of debt obligations are recognized in current period earnings. See long-term debt footnote fair value measurement footnote for further information on current interest rate swaps. As of September 30, 2016 , the Company has recorded a current liability of $5.7 million and an accumulated other comprehensive loss of $3.4 million , net of tax, related to these agreements . Other Activities The Company enters into certain derivative contracts in accordance with its risk management strategy that do not meet the criteria for hedge accounting but which have the impact of largely mitigating foreign currency exposure. At September 30, 2016 , the Company maintained foreign currency contracts with a notional value of $24.1 million . These foreign exchange contracts are accounted for on a full mark to market basis through earnings, with gains and losses recorded as a component of other expense, net. The net unrealized loss related to these contracts was $0.5 million for the nine months ended September 30, 2016 . The notional amount and fair value of foreign exchange contracts that did not meet the criteria for hedge accounting at December 31, 2015 was not material. These contracts are scheduled to mature within one year.

Fair Value Measurement and Fair

Fair Value Measurement and Fair Value of Financial Instruments	9 Months Ended
	Sep. 30, 2016
Fair Value Disclosures [Abstract]
Fair Value Measurement and Fair Value of Financial Instruments	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 September 30, 2016 , which are included in other current liabilities on the Condensed Consolidated Balance sheet: Fair Value Measurements at September 30, 2016 Using In thousands Total Carrying Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Interest rate swap agreements $ 5,708 $ — $ 5,708 $ — Total $ 5,708 $ — $ 5,708 $ — The following table provides the liabilities carried at fair value measured on a recurring basis as of December 31, 2015 , which is included in other current liabilities on the Condensed Consolidated Balance sheet: Fair Value Measurements at December 31, 2015 Using In thousands Total Carrying Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Interest rate swap agreements $ 4,474 $ — $ 4,474 $ — Total $ 4,474 $ — $ 4,474 $ — 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 September 30, 2016 and December 31, 2015 . 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: September 30, 2016 December 31, 2015 In thousands Carry Value Fair Value Carry Fair Interest rate swap agreement $ 5,708 $ 5,708 $ 4,474 $ 4,474 4.375% Senior Notes 248,245 267,613 248,053 254,075 The fair value of the Company’s interest rate swap agreements 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	9 Months Ended
	Sep. 30, 2016
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	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, 2015 , in Note 19 therein, filed on February 19, 2016. During the first nine months of 2016 , there were no material changes to the information described in the Form 10-K. From time to time, the Company is involved in litigation related to claims arising out of the Company's 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, 2015 , in Note 19 therein, filed on February 19, 2016. Except as described below, there have been no material changes to the information described in the Form 10-K. On April 21, 2016, Siemens Industry, Inc. (Siemens) filed a lawsuit against the Company in federal district court in Delaware alleging that the Company has infringed seven ( 7 ) patents owned by Siemens, all of which are related to Positive Train Control technology. Wabtec filed its answer to the complaint on June 17, 2016. The case is in a very preliminary stage. Wabtec believes the claims are without merit and intends to vigorously defend itself.

Segment Information

Segment Information	9 Months Ended
	Sep. 30, 2016
Segment Reporting [Abstract]
Segment Information	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 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 September 30, 2016 is as follows: In thousands Freight Segment Transit Segment Corporate Activities and Elimination Total Sales to external customers $ 361,998 $ 313,576 $ — $ 675,574 Intersegment sales/(elimination) 10,341 1,823 (12,164 ) — Total sales $ 372,339 $ 315,399 $ (12,164 ) $ 675,574 Income (loss) from operations $ 77,999 $ 51,164 $ (9,067 ) $ 120,096 Interest expense and other, net — — (4,869 ) (4,869 ) Income (loss) from operations before income taxes $ 77,999 $ 51,164 $ (13,936 ) $ 115,227 Segment financial information for the three months ended September 30, 2015 is as follows: In thousands Freight Transit Corporate Total Sales to external customers $ 507,173 $ 302,354 $ — $ 809,527 Intersegment sales/(elimination) 9,025 7,111 (16,136 ) — Total sales $ 516,198 $ 309,465 $ (16,136 ) $ 809,527 Income (loss) from operations $ 119,930 $ 38,772 $ (6,624 ) $ 152,078 Interest expense and other, net — — (7,288 ) (7,288 ) Income (loss) from operations before income taxes $ 119,930 $ 38,772 $ (13,912 ) $ 144,790 Segment financial information for the nine months ended September 30, 2016 is as follows: In thousands Freight Transit Corporate Total Sales to external customers $ 1,201,734 $ 969,472 $ — $ 2,171,206 Intersegment sales/(elimination) 29,765 7,606 (37,371 ) — Total sales $ 1,231,499 $ 977,078 $ (37,371 ) $ 2,171,206 Income (loss) from operations $ 276,990 $ 148,321 $ (29,750 ) $ 395,561 Interest expense and other, net — — (15,784 ) (15,784 ) Income (loss) from operations before income taxes $ 276,990 $ 148,321 $ (45,534 ) $ 379,777 Segment financial information for the nine months ended September 30, 2015 is as follows: In thousands Freight Transit Corporate Total Sales to external customers $ 1,553,734 $ 921,415 $ — $ 2,475,149 Intersegment sales/(elimination) 26,982 8,227 (35,209 ) — Total sales $ 1,580,716 $ 929,642 $ (35,209 ) $ 2,475,149 Income (loss) from operations $ 356,731 $ 117,709 $ (18,082 ) $ 456,358 Interest expense and other, net — — (20,388 ) (20,388 ) Income (loss) from operations before income taxes $ 356,731 $ 117,709 $ (38,470 ) $ 435,970 Sales by product are as follows: Three Months Ended In thousands 2016 2015 Specialty Products & Electronics $ 334,349 $ 433,260 Brake Products 134,900 148,552 Remanufacturing, Overhaul & Build 129,264 146,424 Other Transit Products 44,996 45,547 Other 32,065 35,744 Total sales $ 675,574 $ 809,527 Nine Months Ended In thousands 2016 2015 Specialty Products & Electronics $ 1,051,806 $ 1,307,089 Remanufacturing, Overhaul & Build 444,278 437,101 Brake Products 428,785 472,855 Other Transit Products 143,434 143,214 Other 102,903 114,890 Total sales $ 2,171,206 $ 2,475,149

Other Income (Expense), Net

Other Income (Expense), Net	9 Months Ended
	Sep. 30, 2016
Other Income and Expenses [Abstract]
Other Income (Expense), Net	OTHER INCOME (EXPENSE), NET The components of other income (expense) are as follows: Three Months Ended Nine Months Ended September 30, In thousands 2016 2015 2016 2015 Foreign currency gain (loss) $ 880 $ (3,058 ) $ (488 ) $ (6,993 ) Other miscellaneous income (expense) 308 121 601 (697 ) Total other income (expense), net $ 1,188 $ (2,937 ) $ 113 $ (7,690 )

Subsequent Events

Subsequent Events	9 Months Ended
	Sep. 30, 2016
Subsequent Events [Abstract]
Subsequent Events	SUBSEQUENT EVENTS On November 3, 2016, the Company issued $750.0 million of Senior Notes due in 2026 (the “2016 Notes”). The 2016 Notes were issued at 99.965% of face value. Interest on the 2016 Notes accrues at a rate of 3.45% per annum and is payable semi-annually on May 15 and November 15 of each year. The proceeds will be used to pay the cash portion of the Faiveley Transport acquisition, refinance Faiveley Transport's outstanding indebtedness, and for general corporate purposes. The principal balance is due in full at maturity. The 2016 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 2016 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 2016 Notes were issued and expects that these restrictions and covenants will not be any type of limiting factor in executing our operating activities.

Accounting Policies (Policies)

Accounting Policies (Policies)	9 Months Ended
	Sep. 30, 2016
Accounting Policies [Abstract]
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, 2015 . The December 31, 2015 information has been derived from the Company’s Annual Report on Form 10-K for the year ended December 31, 2015 .
Revenue Recognition	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. 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
Reclassifications	Certain prior year amounts have been reclassified, where necessary, to conform to the current year presentation.
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	As part of its risk management strategy, the Company utilizes derivative financial instruments to manage its exposure due to changes in foreign currencies and interest rates. For further information regarding financial derivatives and hedging activities, refer to Footnotes 13 and 14.
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 period. Foreign currency gains and losses resulting from transactions and the translation of financial statements are recorded in the Company’s consolidated financial statements based upon the provisions of ASC 830 “Foreign Currency Matters.” The effects of currency exchange rate changes on intercompany transactions and balances of a long-term investment nature are accumulated and carried as a component of accumulated other comprehensive loss. The effects of currency exchange rate changes on intercompany transactions that are denominated in a currency other than an entity’s functional currency are charged or credited to earnings.
Non-controlling Interests	In accordance with ASC 810 "Consolidation", the Company has classified non-controlling interests as equity on our condensed consolidated balance sheets as of September 30, 2016 and December 31, 2015 .
Recent Accounting Pronouncements	In April 2015, the FASB issued Accounting Standards Update No. 2015-3, “Simplifying the Presentation of Debt Issuance Costs” (“ASU 2015-3”) which changes the presentation of debt issuance costs in financial statements to present such costs as a direct deduction from the related debt liability rather than as an asset. ASU 2015-3 became effective for public companies during interim and annual reporting periods beginning after December 15, 2015. The Company retrospectively adopted this ASU on January 1, 2016. The adoption of this ASU did not have a material impact to its consolidated financial statements. In May 2014, the FASB issued ASU No. 2014-9, “Revenue from Contract with Customers.” The ASU will supersede most of the existing revenue recognition requirements in U.S. GAAP and will require entities to recognize revenue at an amount that reflects the consideration to which the Company expects to be entitled in exchange for transferring goods or services to a customer. The new standard also requires significantly expanded disclosures regarding the qualitative and quantitative information of an entity’s nature, amount, timing and uncertainty of revenue and cash flows arising from contracts with customers. The Board voted to propose that the standard would take effect for reporting periods beginning after December 15, 2017 and that early adoption would be allowed as of the original effective date. The Company is currently evaluating the impact the pronouncement will have on its consolidated financial statements and related disclosures. In March 2016, the FASB issued Accounting Standards Update No. 2016-09, “Compensation - Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting” (ASU 2016-09”). The ASU simplifies several aspects for the accounting for share-based payment transactions, including the income tax consequences, classification of awards as either equity or liabilities, and classification on the statement of cash flows. The ASU is effective for public companies in the fiscal years beginning after December 15, 2016, and interim periods within those fiscal years. Early adoption is permitted. The Company is currently evaluating the potential impact of adopting this guidance on its consolidated financial statements.
Other Comprehensive Income	Comprehensive income is defined as net income and all other non-owner changes in shareholders’ equity.

Accounting Policies (Tables)

Accounting Policies (Tables)	9 Months Ended
	Sep. 30, 2016
Accounting Policies [Abstract]
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 nine months ended September 30, 2016 are as follows: In thousands Foreign currency translation Derivative contracts Pension and post retirement benefit plans Total Balance at December 31, 2015 $ (227,349 ) $ (2,987 ) $ (46,383 ) $ (276,719 ) Other comprehensive (loss) before reclassifications (7,385 ) (2,192 ) (1,969 ) (11,546 ) Amounts reclassified from accumulated other comprehensive income — 883 1,327 2,210 Net current period other comprehensive (loss) (7,385 ) (1,309 ) (642 ) (9,336 ) Balance at September 30, 2016 $ (234,734 ) $ (4,296 ) $ (47,025 ) $ (286,055 )
Reclassifications Out of Accumulated Other Comprehensive Loss	Reclassifications out of accumulated other comprehensive loss for the three months ended September 30, 2016 are as follows: In thousands Amount reclassified from accumulated other comprehensive income Affected line item in the Condensed Consolidated Statements of Income Amortization of defined pension and post retirement items Amortization of initial net obligation and prior service cost $ 6 Cost of sales Amortization of net loss 611 Cost of sales 617 Income from Operations (175 ) Income tax expense $ 442 Net income Derivative contracts Realized loss on derivative contracts $ 338 Interest expense, net (96 ) Income tax expense $ 242 Net income Reclassifications out of accumulated other comprehensive loss for the nine months ended September 30, 2016 are as follows: In thousands Amount reclassified from accumulated other comprehensive income Affected line item in the Condensed Consolidated Statements of Income Amortization of defined pension and post retirement items Amortization of initial net obligation and prior service cost $ (801 ) Cost of sales Amortization of net loss 2,702 Cost of sales 1,901 Income from Operations (574 ) Income tax expense $ 1,327 Net income Derivative contracts Realized loss on derivative contracts $ 1,265 Interest expense, net (382 ) Income tax expense $ 883 Net income

Acquisitions (Tables)

Acquisitions (Tables)	9 Months Ended
	Sep. 30, 2016
Business Combinations [Abstract]
Summary of Preliminary Estimated Fair Values of the Assets Acquired and Liabilities Assumed at the Date of the Acquisition	For the Gerken, Unitrac, RMS, and Track IQ 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 MTC and RCL acquisitions, the following table summarizes the final fair value of the assets acquired and liabilities assumed at the date of acquisition. Gerken Unitrac RMS Track IQ MTC RCL In thousands August 1, May 5, October 30, October 8, June 17, February 4, Current assets $ 33,003 $ 12,526 $ 3,605 $ 660 $ 10,348 $ 16,421 Property, plant & equipment 7,667 1,768 1,378 172 1,450 12,136 Goodwill 16,191 998 8,847 6,333 13,198 14,787 Other intangible assets 32,098 1,230 8,621 3,246 7,650 40,403 Other assets 1,706 — — — 114 — Total assets acquired 90,665 16,522 22,451 10,411 32,760 83,747 Total liabilities assumed (27,818 ) (2,144 ) (3,741 ) (1,099 ) (9,400 ) (5,736 ) Net assets acquired $ 62,847 $ 14,378 $ 18,710 $ 9,312 $ 23,360 $ 78,011
Pro Forma Financial Information	The following unaudited pro forma consolidated financial information presents income statement results as if the acquisitions listed above had occurred on January 1, 2015: In thousands Three Months Ended Three Months Ended Nine Months Ended September 30, 2016 Nine Months Ended September 30, 2015 Net sales $ 679,114 $ 833,138 $ 2,205,757 $ 2,562,576 Gross profit 213,755 267,377 715,080 816,828 Net income attributable to Wabtec shareholders 82,848 101,766 270,368 304,568 Diluted earnings per share As Reported $ 0.91 $ 1.02 $ 2.92 $ 3.05 Pro forma $ 0.91 $ 1.04 $ 2.95 $ 3.13

Inventories (Tables)

Inventories (Tables)	9 Months Ended
	Sep. 30, 2016
Inventory Disclosure [Abstract]
Components of Inventory, Net of Reserves	The components of inventory, net of reserves, were: In thousands September 30, December 31, Raw materials $ 200,020 $ 180,128 Work-in-progress 174,570 171,217 Finished goods 121,408 127,229 Total inventories $ 495,998 $ 478,574

Intangibles (Tables)

Intangibles (Tables)	9 Months Ended
	Sep. 30, 2016
Goodwill and Intangible Assets Disclosure [Abstract]
Change in the Carrying Amount of Goodwill by Segment	The change in the carrying amount of goodwill by segment for the nine months ended September 30, 2016 is as follows: In thousands Freight Segment Transit Segment Total Balance at December 31, 2015 $ 531,965 $ 326,567 $ 858,532 Adjustment to preliminary purchase allocation 1,091 1,038 2,129 Acquisitions 2,956 16,191 19,147 Foreign currency impact (6,782 ) 4,028 (2,754 ) Balance at September 30, 2016 $ 529,230 $ 347,824 $ 877,054
Intangible Assets of the Company, Other Than Goodwill and Trademarks	Intangible assets of the Company, other than goodwill and trade names, consist of the following: In thousands September 30, December 31, Patents, non-compete and other intangibles, net of accumulated amortization of $42,771 and $40,936 $ 13,850 $ 11,403 Customer relationships, net of accumulated amortization of $82,462 and $70,493 265,208 261,751 Total $ 279,058 $ 273,154
Amortization Expense	Amortization expense for the five succeeding years is estimated to be as follows: Remainder of 2016 $ 5,410 2017 20,424 2018 19,721 2019 19,016 2020 17,838

Long-Term Debt (Tables)

Long-Term Debt (Tables)	9 Months Ended
	Sep. 30, 2016
Debt Disclosure [Abstract]
Schedule of Long-term Debt	Long-term debt consisted of the following: In thousands September 30, December 31, 4.375% Senior Notes, due 2023, net of unamortized $ 248,245 $ 248,053 Revolving Credit Facility, net of unamortized 571,289 443,458 Capital Leases 370 727 Total 819,904 692,238 Less - current portion 134 433 Long-term portion $ 819,770 $ 691,805

Employee Benefit Plans (Tables)

Employee Benefit Plans (Tables)	9 Months Ended
	Sep. 30, 2016
Defined Benefit Pension Plans
Components of Net Periodic Benefit Cost	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 In thousands, except percentages 2016 2015 2016 2015 Net periodic benefit cost Service cost $ 84 $ 95 $ 258 $ 506 Interest cost 369 479 1,257 1,801 Expected return on plan assets (519 ) (542 ) (2,437 ) (2,434 ) Net amortization/deferrals 229 266 397 655 Net periodic benefit (credit) cost $ 163 $ 298 $ (525 ) $ 528 Assumptions Discount Rate 4.21 % 3.95 % 3.56 % 3.48 % Expected long-term rate of return 5.70 % 5.70 % 5.81 % 5.79 % Rate of compensation increase 3.00 % 3.00 % 3.10 % 3.10 % U.S. International Nine Months Ended Nine Months Ended In thousands, except percentages 2016 2015 2016 2015 Net periodic benefit cost Service cost $ 252 $ 285 $ 986 $ 1,518 Interest cost 1,107 1,437 4,193 5,391 Expected return on plan assets (1,557 ) (1,626 ) (7,723 ) (7,284 ) Net amortization/deferrals 687 798 1,452 1,962 Curtailment loss recognized — — 240 — Net periodic benefit (credit) cost $ 489 $ 894 $ (852 ) $ 1,587 Assumptions Discount Rate 4.21 % 3.95 % 3.56 % 3.48 % Expected long-term rate of return 5.70 % 5.70 % 5.81 % 5.79 % Rate of compensation increase 3.00 % 3.00 % 3.10 % 3.10 %
Post Retirement Benefit Plans
Components of Net Periodic Benefit Cost	The following tables provide information regarding the Company’s postretirement benefit plans summarized by U.S. and international components. U.S. International Three Months Ended Three Months Ended In thousands, except percentages 2016 2015 2016 2015 Net periodic benefit cost Service cost $ 1 $ 2 $ 7 $ 11 Interest cost 97 308 25 35 Net amortization/deferrals (105 ) (234 ) (9 ) (10 ) Net periodic (credit) benefit cost $ (7 ) $ 76 $ 23 $ 36 Assumptions Discount Rate 3.95 % 3.95 % 3.90 % 3.96 % U.S. International Nine Months Ended Nine Months Ended In thousands, except percentages 2016 2015 2016 2015 Net periodic benefit cost Service cost $ 3 $ 6 $ 21 $ 33 Interest cost 291 924 75 105 Net amortization/deferrals (315 ) (702 ) (27 ) (29 ) Net periodic (credit) benefit cost $ (21 ) $ 228 $ 69 $ 109 Assumptions Discount Rate 3.95 % 3.95 % 3.90 % 3.96 %

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	9 Months Ended
	Sep. 30, 2016
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Stock Option Activity	The following table summarizes the Company’s stock option activity and related information for the 2011 Plan, the 2000 Plan and the Directors Plan for the nine months ended September 30, 2016 : Options Weighted Average Exercise Price Weighted Average Remaining Contractual Life Aggregate Intrinsic value (in thousands) Outstanding at December 31, 2015 1,097,323 $ 32.70 4.8 $ 42,154 Granted 94,115 61.39 1,906 Exercised (72,746 ) 26.57 4,007 Canceled (8,825 ) 71.47 90 Outstanding at September 30, 2016 1,109,867 35.23 4.5 51,518 Exercisable at September 30, 2016 896,486 27.22 3.7 48,799
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: Nine Months Ended 2016 2015 Dividend yield 0.26 % 0.14 % Risk-free interest rate 1.47 % 1.82 % Stock price volatility 26.9 % 27.3 % Expected life (years) 5.0 5.0
Restricted Stock Activity and Incentive Stock Awards Activity	The following table summarizes the restricted stock activity and related information for the 2011 Plan, the 2000 Plan and the Directors Plan, and incentive stock units activity for the 2011 Plan and the 2000 Plan with related information for the nine months ended September 30, 2016 : Restricted Stock and Units Incentive Stock Awards Weighted Average Grant Date Fair Value Outstanding at December 31, 2015 356,885 541,638 $ 65.89 Granted 144,525 167,850 62.24 Vested (159,875 ) (236,591 ) 51.79 Adjustment for incentive stock awards expected to vest — (38,164 ) 74.42 Canceled (12,915 ) (9,983 ) 71.40 Outstanding at September 30, 2016 328,620 424,750 71.18

Earnings Per Share (Tables)

Earnings Per Share (Tables)	9 Months Ended
	Sep. 30, 2016
Earnings Per Share [Abstract]
Computation of 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 In thousands, except per share data 2016 2015 Numerator Numerator for basic and diluted earnings per common share - net income attributable to Wabtec shareholders $ 82,428 $ 99,181 Less: dividends declared - common shares and non-vested restricted stock (8,958 ) (7,735 ) Undistributed earnings 73,470 91,446 Percentage allocated to common shareholders (1) 99.7 % 99.7 % 73,250 91,172 Add: dividends declared - common shares 8,933 7,713 Numerator for basic and diluted earnings per common share $ 82,183 $ 98,885 Denominator Denominator for basic earnings per common share - weighted average shares 89,589 96,369 Effect of dilutive securities: Assumed conversion of dilutive stock-based compensation plans 704 999 Denominator for diluted earnings per common share - adjusted weighted average shares and assumed conversion 90,293 97,368 Net income per common share attributable to Wabtec shareholders Basic $ 0.92 $ 1.03 Diluted $ 0.91 $ 1.02 (1) Basic weighted-average common shares outstanding 89,589 96,369 Basic weighted-average common shares outstanding and non-vested restricted stock expected to vest 89,838 96,647 Percentage allocated to common shareholders 99.7 % 99.7 % Nine Months Ended In thousands, except per share data 2016 2015 Numerator Numerator for basic and diluted earnings per common share - net income attributable to Wabtec shareholders $ 267,076 $ 296,849 Less: dividends declared - common shares and non-vested restricted stock (23,523 ) (19,315 ) Undistributed earnings 243,553 277,534 Percentage allocated to common shareholders (1) 99.7 % 99.7 % 242,822 276,701 Add: dividends declared - common shares 23,452 19,250 Numerator for basic and diluted earnings per common share $ 266,274 $ 295,951 Denominator Denominator for basic earnings per common share - weighted average shares 90,546 96,135 Effect of dilutive securities: Assumed conversion of dilutive stock-based compensation plans 770 1,027 Denominator for diluted earnings per common share - adjusted weighted average shares and assumed conversion 91,316 97,162 Net income per common share attributable to Wabtec shareholders Basic $ 2.94 $ 3.08 Diluted $ 2.92 $ 3.05 (1) Basic weighted-average common shares outstanding 90,546 96,135 Basic weighted-average common shares outstanding and non-vested restricted stock expected to vest 90,819 96,462 Percentage allocated to common shareholders 99.7 % 99.7 %

Warranties (Tables)

Warranties (Tables)	9 Months Ended
	Sep. 30, 2016
Product Warranties Disclosures [Abstract]
Changes in Product Warranty Reserve	The following table reconciles the changes in the Company’s product warranty reserve as follows: In thousands 2016 2015 Balance at beginning of year $ 92,064 $ 87,849 Warranty expense 22,788 21,615 Acquisitions 7,571 6,001 Warranty claim payments (27,693 ) (18,961 ) Foreign currency impact/other (620 ) (1,554 ) Balance at September 30 $ 94,110 $ 94,950

Fair Value Measurement and Fa36

Fair Value Measurement and Fair Value of Financial Instruments (Tables)	9 Months Ended
	Sep. 30, 2016
Fair Value Disclosures [Abstract]
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 September 30, 2016 , which are included in other current liabilities on the Condensed Consolidated Balance sheet: Fair Value Measurements at September 30, 2016 Using In thousands Total Carrying Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Interest rate swap agreements $ 5,708 $ — $ 5,708 $ — Total $ 5,708 $ — $ 5,708 $ — The following table provides the liabilities carried at fair value measured on a recurring basis as of December 31, 2015 , which is included in other current liabilities on the Condensed Consolidated Balance sheet: Fair Value Measurements at December 31, 2015 Using In thousands Total Carrying Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Interest rate swap agreements $ 4,474 $ — $ 4,474 $ — Total $ 4,474 $ — $ 4,474 $ —
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: September 30, 2016 December 31, 2015 In thousands Carry Value Fair Value Carry Fair Interest rate swap agreement $ 5,708 $ 5,708 $ 4,474 $ 4,474 4.375% Senior Notes 248,245 267,613 248,053 254,075

Segment Information (Tables)

Segment Information (Tables)	9 Months Ended
	Sep. 30, 2016
Segment Reporting [Abstract]
Segment Financial Information	Segment financial information for the three months ended September 30, 2016 is as follows: In thousands Freight Segment Transit Segment Corporate Activities and Elimination Total Sales to external customers $ 361,998 $ 313,576 $ — $ 675,574 Intersegment sales/(elimination) 10,341 1,823 (12,164 ) — Total sales $ 372,339 $ 315,399 $ (12,164 ) $ 675,574 Income (loss) from operations $ 77,999 $ 51,164 $ (9,067 ) $ 120,096 Interest expense and other, net — — (4,869 ) (4,869 ) Income (loss) from operations before income taxes $ 77,999 $ 51,164 $ (13,936 ) $ 115,227 Segment financial information for the three months ended September 30, 2015 is as follows: In thousands Freight Transit Corporate Total Sales to external customers $ 507,173 $ 302,354 $ — $ 809,527 Intersegment sales/(elimination) 9,025 7,111 (16,136 ) — Total sales $ 516,198 $ 309,465 $ (16,136 ) $ 809,527 Income (loss) from operations $ 119,930 $ 38,772 $ (6,624 ) $ 152,078 Interest expense and other, net — — (7,288 ) (7,288 ) Income (loss) from operations before income taxes $ 119,930 $ 38,772 $ (13,912 ) $ 144,790 Segment financial information for the nine months ended September 30, 2016 is as follows: In thousands Freight Transit Corporate Total Sales to external customers $ 1,201,734 $ 969,472 $ — $ 2,171,206 Intersegment sales/(elimination) 29,765 7,606 (37,371 ) — Total sales $ 1,231,499 $ 977,078 $ (37,371 ) $ 2,171,206 Income (loss) from operations $ 276,990 $ 148,321 $ (29,750 ) $ 395,561 Interest expense and other, net — — (15,784 ) (15,784 ) Income (loss) from operations before income taxes $ 276,990 $ 148,321 $ (45,534 ) $ 379,777 Segment financial information for the nine months ended September 30, 2015 is as follows: In thousands Freight Transit Corporate Total Sales to external customers $ 1,553,734 $ 921,415 $ — $ 2,475,149 Intersegment sales/(elimination) 26,982 8,227 (35,209 ) — Total sales $ 1,580,716 $ 929,642 $ (35,209 ) $ 2,475,149 Income (loss) from operations $ 356,731 $ 117,709 $ (18,082 ) $ 456,358 Interest expense and other, net — — (20,388 ) (20,388 ) Income (loss) from operations before income taxes $ 356,731 $ 117,709 $ (38,470 ) $ 435,970
Sales by Product	Sales by product are as follows: Three Months Ended In thousands 2016 2015 Specialty Products & Electronics $ 334,349 $ 433,260 Brake Products 134,900 148,552 Remanufacturing, Overhaul & Build 129,264 146,424 Other Transit Products 44,996 45,547 Other 32,065 35,744 Total sales $ 675,574 $ 809,527 Nine Months Ended In thousands 2016 2015 Specialty Products & Electronics $ 1,051,806 $ 1,307,089 Remanufacturing, Overhaul & Build 444,278 437,101 Brake Products 428,785 472,855 Other Transit Products 143,434 143,214 Other 102,903 114,890 Total sales $ 2,171,206 $ 2,475,149

Other Income (Expense), Net (Ta

Other Income (Expense), Net (Tables)	9 Months Ended
	Sep. 30, 2016
Other Income and Expenses [Abstract]
Components of Other Income (Expense)	The components of other income (expense) are as follows: Three Months Ended Nine Months Ended September 30, In thousands 2016 2015 2016 2015 Foreign currency gain (loss) $ 880 $ (3,058 ) $ (488 ) $ (6,993 ) Other miscellaneous income (expense) 308 121 601 (697 ) Total other income (expense), net $ 1,188 $ (2,937 ) $ 113 $ (7,690 )

Business - Additional Informati

Business - Additional Information (Detail)	9 Months Ended
	Sep. 30, 2016country
Product Information [Line Items]
Number of countries company operates	21
Sales Revenue Outside United States | Customer Concentration Risk
Product Information [Line Items]
Percent of revenue from customers outside the U.S.	52.00%
Minimum
Product Information [Line Items]
Number of countries where product is found (more than)	100

Proposed Transaction with Fai40

Proposed Transaction with Faiveley Transport S.A. (Details) € / shares in Units, $ in Thousands, € in Millions	Jul. 27, 2015USD ($)employeecountry	Sep. 30, 2016USD ($)	Dec. 31, 2015USD ($)	Dec. 30, 2015EUR (€)	Oct. 06, 2015	Jul. 27, 2015€ / shares
Business Acquisition [Line Items]
Deposit in escrow		$ 210,025	$ 202,942
Business acquisition consolidated revenue after acquisition	$ 4,300,000
Faiveley Transport
Business Acquisition [Line Items]
Annual sales of Faiveley	$ 1,200,000
Number of employees (more than) | employee	5,700
Number of countries Faiveley operates in | country	24
Percentage of voting interests in Faiveley					51.00%	51.00%
Purchase price per share (in euros per share) | € / shares						€ 100
Minority interests percentage for delisting of acquiree company (less than)	5.00%
Business combination, consideration transferred	$ 1,700,000
Deposit in escrow | €				€ 186.9
Minimum | Faiveley Transport
Business Acquisition [Line Items]
Percentage of business acquisition consideration payable in cash						25.00%
Maximum | Faiveley Transport
Business Acquisition [Line Items]
Percentage of business acquisition consideration payable in cash						45.00%

Accounting Policies - Additiona

Accounting Policies - Additional Information (Detail) - USD ($) $ in Thousands	Sep. 30, 2016	Dec. 31, 2015
Summary Of Significant Accounting Policies [Line Items]
Unbilled accounts receivable	$ 146,726	$ 103,814
Customer deposits	108,718	106,127
Provisions for loss contracts	13,900	11,800
Deferred pre-production costs	$ 28,100	$ 30,300

Accounting Policies - Accumulat

Accounting Policies - Accumulated Other Comprehensive Loss by Component, Net of Tax (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance			$ 1,699,607
Other comprehensive income (loss), net of tax	$ 4,291	$ (47,512)	(9,336)	$ (97,722)
Ending balance	1,727,074		1,727,074
Foreign currency translation
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance			(227,349)
Other comprehensive (loss) before reclassifications			(7,385)
Amounts reclassified from accumulated other comprehensive income			0
Other comprehensive income (loss), net of tax			(7,385)
Ending balance	(234,734)		(234,734)
Derivative contracts
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance			(2,987)
Other comprehensive (loss) before reclassifications			(2,192)
Amounts reclassified from accumulated other comprehensive income			883
Other comprehensive income (loss), net of tax			(1,309)
Ending balance	(4,296)		(4,296)
Pension and post retirement benefit plans
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance			(46,383)
Other comprehensive (loss) before reclassifications			(1,969)
Amounts reclassified from accumulated other comprehensive income			1,327
Other comprehensive income (loss), net of tax			(642)
Ending balance	(47,025)		(47,025)
AOCI Attributable to Parent
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance			(276,719)
Other comprehensive (loss) before reclassifications			(11,546)
Amounts reclassified from accumulated other comprehensive income			2,210
Other comprehensive income (loss), net of tax			(9,336)
Ending balance	$ (286,055)		$ (286,055)

Accounting Policies - Reclassif

Accounting Policies - Reclassifications Out of Accumulated Other Comprehensive Loss (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Reclassification Adjustment Out Of Accumulated Other Comprehensive Income On Derivatives [Line Items]
Cost of sales	$ 463,093	$ 552,458	$ 1,466,156	$ 1,694,961
Income from Operations	115,227	144,790	379,777	435,970
Income tax expense	(32,799)	(45,609)	(112,701)	(139,121)
Interest expense, net	(6,057)	(4,351)	(15,897)	(12,698)
Net income attributable to Wabtec shareholders	82,428	$ 99,181	267,076	$ 296,849
Reclassification out of Accumulated Other Comprehensive Income | Pension and post retirement benefit plans
Reclassification Adjustment Out Of Accumulated Other Comprehensive Income On Derivatives [Line Items]
Income from Operations	617		1,901
Income tax expense	(175)		(574)
Net income attributable to Wabtec shareholders	442		1,327
Reclassification out of Accumulated Other Comprehensive Income | Amortization of initial net obligation and prior service cost
Reclassification Adjustment Out Of Accumulated Other Comprehensive Income On Derivatives [Line Items]
Cost of sales	6		(801)
Reclassification out of Accumulated Other Comprehensive Income | Amortization of net loss
Reclassification Adjustment Out Of Accumulated Other Comprehensive Income On Derivatives [Line Items]
Cost of sales	611		2,702
Reclassification out of Accumulated Other Comprehensive Income | Derivative contracts
Reclassification Adjustment Out Of Accumulated Other Comprehensive Income On Derivatives [Line Items]
Income tax expense	(96)		(382)
Interest expense, net	338		1,265
Net income attributable to Wabtec shareholders	$ 242		$ 883

Acquisitions - Additional Infor

Acquisitions - Additional Information (Detail) - USD ($)	9 Months Ended
	Sep. 30, 2016	Aug. 01, 2016	May 05, 2016	Dec. 31, 2015	Oct. 30, 2015	Oct. 08, 2015	Jun. 17, 2015	Feb. 04, 2015
Business Acquisition [Line Items]
Goodwill	$ 877,054,000			$ 858,532,000
Escrow deposits	210,025,000			$ 202,942,000
Acquired indefinite-lived intangible assets	93,200,000
Trade Names
Business Acquisition [Line Items]
Acquired indefinite-lived intangible assets	15,800,000
Customer Relationships
Business Acquisition [Line Items]
Acquired indefinite-lived intangible assets	$ 70,400,000
Average useful life, years	20 years
Noncompete Agreements
Business Acquisition [Line Items]
Acquired indefinite-lived intangible assets	$ 400,000
Average useful life, years	5 years
Customer Backlog
Business Acquisition [Line Items]
Acquired indefinite-lived intangible assets	$ 1,400,000
Intellectual Property
Business Acquisition [Line Items]
Acquired indefinite-lived intangible assets	5,200,000
Acquisitions other than Faiveley
Business Acquisition [Line Items]
Escrow deposits	$ 34,900,000
Gerken
Business Acquisition [Line Items]
Purchase price, net of cash acquired		$ 62,847,000
Goodwill		$ 16,191,000
Goodwill tax deduction					$ 0
Unitrac
Business Acquisition [Line Items]
Purchase price, net of cash acquired			$ 14,378,000
Goodwill			998,000
Goodwill tax deduction			$ 1,000,000
RMS
Business Acquisition [Line Items]
Purchase price, net of cash acquired					18,710,000
Goodwill					8,847,000
Goodwill tax deduction					$ 0
Track IQ
Business Acquisition [Line Items]
Purchase price, net of cash acquired						$ 9,312,000
Goodwill						$ 6,333,000
MTC
Business Acquisition [Line Items]
Purchase price, net of cash acquired							$ 23,360,000
Goodwill							13,198,000
Goodwill tax deduction							$ 0
RCL
Business Acquisition [Line Items]
Purchase price, net of cash acquired								$ 78,011,000
Goodwill								$ 14,787,000

Acquisitions - Summary of Preli

Acquisitions - Summary of Preliminary Estimated Fair Values of Assets Acquired and Liabilities Assumed (Detail) - USD ($) $ in Thousands	Sep. 30, 2016	Aug. 01, 2016	May 05, 2016	Dec. 31, 2015	Oct. 30, 2015	Oct. 08, 2015	Jun. 17, 2015	Feb. 04, 2015
Business Acquisition [Line Items]
Goodwill	$ 877,054			$ 858,532
Gerken
Business Acquisition [Line Items]
Current assets		$ 33,003
Property, plant & equipment		7,667
Goodwill		16,191
Other intangible assets		32,098
Other assets		1,706
Total assets acquired		90,665
Total liabilities assumed		(27,818)
Net assets acquired		$ 62,847
Unitrac
Business Acquisition [Line Items]
Current assets			$ 12,526
Property, plant & equipment			1,768
Goodwill			998
Other intangible assets			1,230
Other assets			0
Total assets acquired			16,522
Total liabilities assumed			(2,144)
Net assets acquired			$ 14,378
RMS
Business Acquisition [Line Items]
Current assets					$ 3,605
Property, plant & equipment					1,378
Goodwill					8,847
Other intangible assets					8,621
Other assets					0
Total assets acquired					22,451
Total liabilities assumed					(3,741)
Net assets acquired					$ 18,710
Track IQ
Business Acquisition [Line Items]
Current assets						$ 660
Property, plant & equipment						172
Goodwill						6,333
Other intangible assets						3,246
Other assets						0
Total assets acquired						10,411
Total liabilities assumed						(1,099)
Net assets acquired						$ 9,312
MTC
Business Acquisition [Line Items]
Current assets							$ 10,348
Property, plant & equipment							1,450
Goodwill							13,198
Other intangible assets							7,650
Other assets							114
Total assets acquired							32,760
Total liabilities assumed							(9,400)
Net assets acquired							$ 23,360
RCL
Business Acquisition [Line Items]
Current assets								$ 16,421
Property, plant & equipment								12,136
Goodwill								14,787
Other intangible assets								40,403
Other assets								0
Total assets acquired								83,747
Total liabilities assumed								(5,736)
Net assets acquired								$ 78,011

Acquisitions - Pro Forma Financ

Acquisitions - Pro Forma Financial Information (Detail) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Business Combinations [Abstract]
Net sales	$ 679,114	$ 833,138	$ 2,205,757	$ 2,562,576
Gross profit	213,755	267,377	715,080	816,828
Net income attributable to Wabtec shareholders	$ 82,848	$ 101,766	$ 270,368	$ 304,568
Diluted earnings per share, as reported (in dollars per share)	$ 0.91	$ 1.02	$ 2.92	$ 3.05
Diluted earnings per share, pro forma (in dollars per share)	$ 0.91	$ 1.04	$ 2.95	$ 3.13

Inventories (Details)

Inventories (Details) - USD ($) $ in Thousands	Sep. 30, 2016	Dec. 31, 2015
Inventory Disclosure [Abstract]
Raw materials	$ 200,020	$ 180,128
Work-in-progress	174,570	171,217
Finished goods	121,408	127,229
Total inventories	$ 495,998	$ 478,574

Intangibles - Change in the Car

Intangibles - Change in the Carrying Amount of Goodwill by Segment (Detail) $ in Thousands	9 Months Ended
	Sep. 30, 2016USD ($)
Goodwill [Roll Forward]
Beginning balance	$ 858,532
Adjustment to preliminary purchase allocation	2,129
Acquisitions	19,147
Foreign currency impact	(2,754)
Ending balance	877,054
Freight Segment
Goodwill [Roll Forward]
Beginning balance	531,965
Adjustment to preliminary purchase allocation	1,091
Acquisitions	2,956
Foreign currency impact	(6,782)
Ending balance	529,230
Transit Segment
Goodwill [Roll Forward]
Beginning balance	326,567
Adjustment to preliminary purchase allocation	1,038
Acquisitions	16,191
Foreign currency impact	4,028
Ending balance	$ 347,824

Intangibles - Additional Inform

Intangibles - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015	Dec. 31, 2015
Intangible Assets Disclosure [Line Items]
Trademarks	$ 178,200		$ 178,200		$ 167,400
Intangible assets, amortization expense	$ 5,339	$ 5,546	$ 16,100	$ 16,009
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)			16 years
Intellectual Property
Intangible Assets Disclosure [Line Items]
Intangible assets, weighted average useful life (years)			17 years

Intangibles - Intangible Assets

Intangibles - Intangible Assets Other Than Goodwill and Trademarks (Detail) - USD ($) $ in Thousands	Sep. 30, 2016	Dec. 31, 2015
Finite Lived Intangible Assets [Line Items]
Intangible assets, net of accumulated amortization	$ 279,058	$ 273,154
Patents And Other
Finite Lived Intangible Assets [Line Items]
Intangible assets, net of accumulated amortization	13,850	11,403
Intangible assets, accumulated amortization	42,771	40,936
Customer Relationships
Finite Lived Intangible Assets [Line Items]
Intangible assets, net of accumulated amortization	265,208	261,751
Intangible assets, accumulated amortization	$ 82,462	$ 70,493

Intangibles - Amortization Expe

Intangibles - Amortization Expense (Detail) $ in Thousands	Sep. 30, 2016USD ($)
Goodwill and Intangible Assets Disclosure [Abstract]
Remainder of 2016	$ 5,410
2,017	20,424
2,018	19,721
2,019	19,016
2,020	$ 17,838

Long-Term Debt - Schedule of Lo

Long-Term Debt - Schedule of Long-term Debt (Details) - USD ($)	Sep. 30, 2016	Dec. 31, 2015	Aug. 31, 2013
Debt Instrument [Line Items]
Capital Leases	$ 370,000	$ 727,000
Total	819,904,000	692,238,000
Less - current portion	134,000	433,000
Long-term portion	819,770,000	691,805,000
Revolving Credit Facility
Debt Instrument [Line Items]
Long-term debt	571,289,000	443,458,000
Unamortized discount and debt issuance cost	3,711,000	1,542,000
4.375% Senior Notes, due 2023
Debt Instrument [Line Items]
Long-term debt	$ 248,245,000	$ 248,053,000	$ 250,000,000
Stated interest percentage	4.375%	4.375%	4.375%
Unamortized discount and debt issuance cost	$ 1,755,000	$ 1,947,000

Long-Term Debt - Additional Inf

Long-Term Debt - Additional Information (Details) - USD ($)	Jun. 22, 2016	Dec. 19, 2013	Sep. 30, 2016	Dec. 31, 2015	Jun. 05, 2014	Aug. 31, 2013	Jan. 12, 2012
Debt Instrument [Line Items]
Weighted average interest rate			1.53%
Forward Starting Interest Rate Swap Agreement
Debt Instrument [Line Items]
Interest rate swap agreements, notional amount					$ 150,000,000		$ 150,000,000
Interest rate on notional value					2.56%		1.415%
4.375% Senior Notes, due 2023
Debt Instrument [Line Items]
Deferred financing cost						$ 2,600,000
Long-term debt			$ 248,245,000	$ 248,053,000		$ 250,000,000
Senior notes coupon rate						99.879%
Stated interest percentage			4.375%	4.375%		4.375%
Revolving Credit Facility
Debt Instrument [Line Items]
Long-term debt			$ 571,289,000	$ 443,458,000
2016 Refinancing Credit Agreement
Debt Instrument [Line Items]
Deferred financing cost	$ 2,900,000
Minimum interest expense coverage ratio			3
Maximum debt to cash flow ratio			3.25
2016 Refinancing Credit Agreement | Federal Funds Effective Rate
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate			0.50%
2016 Refinancing Credit Agreement | LIBOR Rate
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate			1.00%
2016 Refinancing Credit Agreement | Base Rate
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate			0.00%
2016 Refinancing Credit Agreement | Base Rate | Minimum
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate			0.00%
2016 Refinancing Credit Agreement | Base Rate | Maximum
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate			0.75%
2016 Refinancing Credit Agreement | Alternative Rate
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate			1.00%
2016 Refinancing Credit Agreement | Alternative Rate | Minimum
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate			0.75%
2016 Refinancing Credit Agreement | Alternative Rate | Maximum
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate			1.75%
2016 Refinancing Credit Agreement | Revolving Credit Facility
Debt Instrument [Line Items]
Credit facility loan term, years	5 years
Line of credit facility, amount currently available			$ 602,500,000
2016 Refinancing Credit Agreement | Revolving Credit Facility | Line of Credit
Debt Instrument [Line Items]
Revolving credit facility, amount	$ 1,200,000,000
2016 Refinancing Credit Agreement | Term Loan
Debt Instrument [Line Items]
Ticking fee	0.10%
2016 Refinancing Credit Agreement | Term Loan | Line of Credit
Debt Instrument [Line Items]
Revolving credit facility, amount	$ 400,000,000
2016 Refinancing Credit Agreement | Letter of Credit
Debt Instrument [Line Items]
Line of credit amount outstanding			$ 22,500,000
2013 Refinancing Credit Agreement
Debt Instrument [Line Items]
Deferred financing cost		$ 1,000,000
Basis spread on effective rate			0.50%
Debt instrument, basis spread on variable rate			1.00%
2013 Refinancing Credit Agreement | Base Rate | Minimum
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate			0.00%
2013 Refinancing Credit Agreement | Base Rate | Maximum
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate			0.75%
2013 Refinancing Credit Agreement | Alternative Rate | Minimum
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate			0.75%
2013 Refinancing Credit Agreement | Alternative Rate | Maximum
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate			1.75%
2013 Refinancing Credit Agreement | Revolving Credit Facility
Debt Instrument [Line Items]
Credit facility loan term, years		5 years
2013 Refinancing Credit Agreement | Revolving Credit Facility | Line of Credit
Debt Instrument [Line Items]
Revolving credit facility, amount		$ 800,000,000

Employee Benefit Plans - Compon

Employee Benefit Plans - Components of Net Periodic Benefit Cost (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
U.S. Defined Benefit Pension Plans
Net periodic benefit cost
Service cost	$ 84	$ 95	$ 252	$ 285
Interest cost	369	479	1,107	1,437
Expected return on plan assets	(519)	(542)	(1,557)	(1,626)
Net amortization/deferrals	229	266	687	798
Curtailment loss recognized			0	0
Net periodic benefit (credit) cost	$ 163	$ 298	$ 489	$ 894
Assumptions
Discount Rate	4.21%	3.95%	4.21%	3.95%
Expected long-term rate of return	5.70%	5.70%	5.70%	5.70%
Rate of compensation increase	3.00%	3.00%	3.00%	3.00%
International Defined Benefit Pension Plans
Net periodic benefit cost
Service cost	$ 258	$ 506	$ 986	$ 1,518
Interest cost	1,257	1,801	4,193	5,391
Expected return on plan assets	(2,437)	(2,434)	(7,723)	(7,284)
Net amortization/deferrals	397	655	1,452	1,962
Curtailment loss recognized			240	0
Net periodic benefit (credit) cost	$ (525)	$ 528	$ (852)	$ 1,587
Assumptions
Discount Rate	3.56%	3.48%	3.56%	3.48%
Expected long-term rate of return	5.81%	5.79%	5.81%	5.79%
Rate of compensation increase	3.10%	3.10%	3.10%	3.10%
U.S. Post Retirement
Net periodic benefit cost
Service cost	$ 1	$ 2	$ 3	$ 6
Interest cost	97	308	291	924
Net amortization/deferrals	(105)	(234)	(315)	(702)
Net periodic benefit (credit) cost	$ (7)	$ 76	$ (21)	$ 228
Assumptions
Discount Rate	3.95%	3.95%	3.95%	3.95%
International Post Retirement
Net periodic benefit cost
Service cost	$ 7	$ 11	$ 21	$ 33
Interest cost	25	35	75	105
Net amortization/deferrals	(9)	(10)	(27)	(29)
Net periodic benefit (credit) cost	$ 23	$ 36	$ 69	$ 109
Assumptions
Discount Rate	3.90%	3.96%	3.90%	3.96%

Employee Benefit Plans - Additi

Employee Benefit Plans - Additional Information (Detail) - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2016	Dec. 31, 2016
Change in Assumptions for Pension Plans | Scenario Forecast
Defined Benefit Plans And Other Postretirement Benefit Plans Table Text Block [Line Items]
Reduction in service and interest cost		$ 1,600
International Defined Benefit Pension Plans
Defined Benefit Plans And Other Postretirement Benefit Plans Table Text Block [Line Items]
Contribution to the plan	$ 6,600
U.S. Defined Benefit Pension Plans
Defined Benefit Plans And Other Postretirement Benefit Plans Table Text Block [Line Items]
Contribution to the plan	$ 0

Stock-Based Compensation - Addi

Stock-Based Compensation - Additional Information (Detail) - USD ($) $ in Millions	9 Months Ended		12 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Stock-based compensation expense	$ 14.8	$ 20.1
Unamortized compensation expense expected to be vested	$ 25.8
Recognized weighted average period, years	1 year 4 months 17 days
Stock Option
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Stock-based compensation expense	$ 1.3
Restricted Stock
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Stock-based compensation expense	4.5
Restricted Stock Units (RSUs)
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Stock-based compensation expense	2.2
Performance Shares
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Stock-based compensation expense	$ 5.9
Award vesting period	3 years
Performance Shares | Minimum
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Percentage of incentive stock awards expected to be vested and awarded of stocks granted	0.00%
Performance Shares | Maximum
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Percentage of incentive stock awards expected to be vested and awarded of stocks granted	200.00%
Performance Shares | Scenario Forecast
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Percentage of incentive stock awards expected to be vested and awarded of stocks granted			92.00%	92.00%	119.00%
2011 Plan
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Plan term	10 years
Number of shares available for grant	3,800,000
2011 Plan | Stock Option
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Plan term	10 years
Award vesting period	4 years
2011 Plan | Restricted Stock
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Award vesting period	4 years
2011 Plan | Restricted Stock Units (RSUs)
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Award vesting period	4 years
Directors Plan
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Stock-based compensation expense	$ 0.9
Directors Plan | Restricted Stock
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Award vesting period	1 year
2000 Plan | Stock Option
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Plan term	10 years
Award vesting period	4 years
2000 Plan | Restricted Stock
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Award vesting period	4 years
2000 Plan | Restricted Stock Units (RSUs)
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Award vesting period	4 years

Stock-Based Compensation - Stoc

Stock-Based Compensation - Stock Option Activity (Detail) - USD ($) $ / shares in Units, $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2016	Dec. 31, 2015
Options Outstanding
Beginning balance (in shares)	1,097,323
Granted (in shares)	94,115
Exercised (in shares)	(72,746)
Canceled (in shares)	(8,825)
Ending balance (in shares)	1,109,867	1,097,323
Exercisable at period end (in shares)	896,486
Weighted-Average Exercise Price per Share
Beginning balance (in dollars per share)	$ 32.70
Granted (in dollars per share)	61.39
Exercised (in dollars per share)	26.57
Canceled (in dollars per share)	71.47
Ending balance (in dollars per share)	35.23	$ 32.70
Exercisable (in dollars per share)	$ 27.22
Weighted-Average Remaining Contractual Life
Outstanding, weighted average remaining contractual life	4 years 6 months 2 days	4 years 9 months 18 days
Exercisable weighted average remaining contractual life	3 years 8 months 16 days
Aggregate Intrinsic Value
Beginning balance	$ 42,154
Granted	1,906
Exercised	4,007
Canceled	90
Ending balance	51,518	$ 42,154
Exercisable	$ 48,799

Stock-Based Compensation - Fair

Stock-Based Compensation - Fair Value of Each Option Grant Weighted Average Assumptions (Detail)	9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Dividend yield	0.26%	0.14%
Risk-free interest rate	1.47%	1.82%
Stock price volatility	26.90%	27.30%
Expected life (years)	5 years	5 years

Stock-Based Compensation - Rest

Stock-Based Compensation - Restricted Stock Activity and Incentive Stock Awards Activity (Detail)	9 Months Ended
	Sep. 30, 2016$ / sharesshares
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Abstract]
Outstanding, beginning of period (in dollars per share) | $ / shares	$ 65.89
Granted (in dollars per share) | $ / shares	62.24
Vested (in dollars per share) | $ / shares	51.79
Adjustment for incentive stock awards expected to vest (in dollars per share) | $ / shares	74.42
Canceled (in dollars per share) | $ / shares	71.40
Outstanding, end of period (in dollars per share) | $ / shares	$ 71.18
Restricted Stock and Units
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Outstanding, beginning of period (in shares)	356,885
Granted (in shares)	144,525
Vested (in shares)	(159,875)
Adjustment for incentive stock awards expected to vest (in shares)	0
Canceled (in shares)	(12,915)
Outstanding, end of period (in shares)	328,620
Incentive Stock Awards
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Outstanding, beginning of period (in shares)	541,638
Granted (in shares)	167,850
Vested (in shares)	(236,591)
Adjustment for incentive stock awards expected to vest (in shares)	(38,164)
Canceled (in shares)	(9,983)
Outstanding, end of period (in shares)	424,750

Income Taxes - Additional Infor

Income Taxes - Additional Information (Detail) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015	Dec. 31, 2015
Income Tax Disclosure [Abstract]
Effective income tax rate	28.50%	31.50%	29.70%	31.90%
Liability for uncertain tax positions	$ 9.5		$ 9.5		$ 9.5
Unrecognized tax benefits if recognized that would affect effective tax rate	4.3		4.3		4.3
Accrued interest related to uncertain tax positions	1.6		1.6		2
Accrued penalties related to uncertain tax positions	2		2		$ 0.2
Unrecognized tax benefits subject to change within the next 12 months	$ 1.1		$ 1.1

Earnings Per Share - Computatio

Earnings Per Share - Computation of Basic and Diluted Earnings Per Share (Detail) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Earnings Per Share [Abstract]
Net income attributable to Wabtec shareholders	$ 82,428	$ 99,181	$ 267,076	$ 296,849
Less: dividends declared - common shares and non-vested restricted stock	(8,958)	(7,735)	(23,523)	(19,315)
Undistributed earnings	$ 73,470	$ 91,446	$ 243,553	$ 277,534
Percentage allocated to common shareholders	99.70%	99.70%	99.70%	99.70%
Undistributed earnings allocated to common shareholders	$ 73,250	$ 91,172	$ 242,822	$ 276,701
Add: dividends declared - common shares	8,933	7,713	23,452	19,250
Numerator for basic and diluted earnings per common share	$ 82,183	$ 98,885	$ 266,274	$ 295,951
Basic weighted average common shares outstanding (in shares)	89,589	96,369	90,546	96,135
Assumed conversion of dilutive stock-based compensation plans (in shares)	704	999	770	1,027
Denominator for diluted earnings per common share - adjusted weighted average shares and assumed conversion (in shares)	90,293	97,368	91,316	97,162
Basic earnings per share (in dollars per share)	$ 0.92	$ 1.03	$ 2.94	$ 3.08
Diluted earnings per share, as reported (in dollars per share)	$ 0.91	$ 1.02	$ 2.92	$ 3.05
Basic weighted-average common shares outstanding and non-vested restricted stock expected to vest (in shares)	89,838	96,647	90,819	96,462

Warranties - Changes in Product

Warranties - Changes in Product Warranty Reserve (Detail) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015
Movement in Standard and Extended Product Warranty, Increase (Decrease) [Roll Forward]
Balance at beginning of period	$ 92,064	$ 87,849
Warranty expense	22,788	21,615
Acquisitions	7,571	6,001
Warranty claim payments	(27,693)	(18,961)
Foreign currency impact/other	(620)	(1,554)
Balance at end of period	$ 94,110	$ 94,950

Derivative Financial Instrume63

Derivative Financial Instruments and Hedging (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2016	Dec. 31, 2015
Interest rate swap agreements
Derivative [Line Items]
Interest rate swap agreement, current liability	$ 5,708	$ 4,474
Not Designated as Hedging Instrument | Foreign Currency Contracts
Derivative [Line Items]
Notional value	$ 24,100
Derivative term	1 year
Unrealized loss on derivative contracts	$ 500
Cash Flow Hedging | Designated as Hedging Instrument | Foreign Currency Contracts
Derivative [Line Items]
Notional value	8,000
Derivative liability, fair value	$ 600
Derivative term	2 years
Amount reclassified into income	$ 500
Fair Value Hedging | Designated as Hedging Instrument | Interest rate swap agreements
Derivative [Line Items]
Interest rate swap agreement, current liability	5,700
Accumulated other comprehensive loss	$ 3,400

Fair Value Measurement and Fa64

Fair Value Measurement and Fair Value of Financial Instruments - Liabilities Carried at Fair Value Measured on Recurring Basis (Detail) - USD ($) $ in Thousands	Sep. 30, 2016	Dec. 31, 2015
Fair Value, Measurements, Recurring
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Interest rate swap agreement, current liability	$ 5,708	$ 4,474
Fair Value, Measurements, Recurring | Quoted Prices in Active Markets for Identical Assets (Level 1)
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Liabilities at fair value	0	0
Fair Value, Measurements, Recurring | Significant Other Observable Inputs (Level 2)
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Liabilities at fair value	5,708	4,474
Fair Value, Measurements, Recurring | Significant Unobservable Inputs (Level 3)
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Liabilities at fair value	0	0
Interest rate swap agreements
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Interest rate swap agreement, current liability	5,708	4,474
Liabilities at fair value	5,708	4,474
Interest rate swap agreements | Fair Value, Measurements, Recurring
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Interest rate swap agreement, current liability	5,708	4,474
Interest rate swap agreements | Fair Value, Measurements, Recurring | Quoted Prices in Active Markets for Identical Assets (Level 1)
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Liabilities at fair value	0	0
Interest rate swap agreements | Fair Value, Measurements, Recurring | Significant Other Observable Inputs (Level 2)
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Liabilities at fair value	5,708	4,474
Interest rate swap agreements | Fair Value, Measurements, Recurring | Significant Unobservable Inputs (Level 3)
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Liabilities at fair value	$ 0	$ 0

Fair Value Measurement and Fa65

Fair Value Measurement and Fair Value of Financial Instruments - Estimated Fair Values and Related Carrying Values of Financial Instruments (Detail) - USD ($)	Sep. 30, 2016	Dec. 31, 2015	Aug. 31, 2013
4.375% Senior Notes
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Carry value	$ 248,245,000	$ 248,053,000	$ 250,000,000
Fair value	$ 267,613,000	$ 254,075,000
Stated interest percentage	4.375%	4.375%	4.375%
Interest rate swap agreements
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Carry value	$ 5,708,000	$ 4,474,000
Fair value	$ 5,708,000	$ 4,474,000

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Details)	Apr. 21, 2016
Siemens Industry, Inc. | Pending Litigation
Loss Contingencies [Line Items]
Number of patents allegedly infringed	7

Segment Information - Additiona

Segment Information - Additional Information (Detail)	9 Months Ended
	Sep. 30, 2016segment
Segment Reporting [Abstract]
Number of reportable segments	2

Segment Information - Segment F

Segment Information - Segment Financial Information (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Segment Reporting Information [Line Items]
Total sales	$ 675,574	$ 809,527	$ 2,171,206	$ 2,475,149
Income (loss) from operations	120,096	152,078	395,561	456,358
Interest expense and other, net	(4,869)	(7,288)	(15,784)	(20,388)
Income from operations before income taxes	115,227	144,790	379,777	435,970
Freight Segment
Segment Reporting Information [Line Items]
Total sales	372,339	516,198	1,231,499	1,580,716
Income from operations before income taxes	77,999	119,930	276,990	356,731
Transit Segment
Segment Reporting Information [Line Items]
Total sales	315,399	309,465	977,078	929,642
Income from operations before income taxes	51,164	38,772	148,321	117,709
Operating Segments | Freight Segment
Segment Reporting Information [Line Items]
Total sales	361,998	507,173	1,201,734	1,553,734
Income (loss) from operations	77,999	119,930	276,990	356,731
Interest expense and other, net	0	0	0	0
Operating Segments | Transit Segment
Segment Reporting Information [Line Items]
Total sales	313,576	302,354	969,472	921,415
Income (loss) from operations	51,164	38,772	148,321	117,709
Interest expense and other, net	0	0	0	0
Intersegment sales/(elimination)
Segment Reporting Information [Line Items]
Total sales	(12,164)	(16,136)	(37,371)	(35,209)
Intersegment sales/(elimination) | Freight Segment
Segment Reporting Information [Line Items]
Total sales	10,341	9,025	29,765	26,982
Intersegment sales/(elimination) | Transit Segment
Segment Reporting Information [Line Items]
Total sales	1,823	7,111	7,606	8,227
Corporate Activities and Elimination
Segment Reporting Information [Line Items]
Total sales	(12,164)	(16,136)	(37,371)	(35,209)
Income (loss) from operations	(9,067)	(6,624)	(29,750)	(18,082)
Interest expense and other, net	(4,869)	(7,288)	(15,784)	(20,388)
Income from operations before income taxes	$ (13,936)	$ (13,912)	$ (45,534)	$ (38,470)

Segment Information - Sales by

Segment Information - Sales by Product (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Segment Reporting Information [Line Items]
Total sales	$ 675,574	$ 809,527	$ 2,171,206	$ 2,475,149
Specialty Products & Electronics
Segment Reporting Information [Line Items]
Total sales	334,349	433,260	1,051,806	1,307,089
Brake Products
Segment Reporting Information [Line Items]
Total sales	134,900	148,552	428,785	472,855
Remanufacturing, Overhaul & Build
Segment Reporting Information [Line Items]
Total sales	129,264	146,424	444,278	437,101
Other Transit Products
Segment Reporting Information [Line Items]
Total sales	44,996	45,547	143,434	143,214
Other
Segment Reporting Information [Line Items]
Total sales	$ 32,065	$ 35,744	$ 102,903	$ 114,890

Other Income (Expense), Net - C

Other Income (Expense), Net - Components of Other Income Expense (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Other Income and Expenses [Abstract]
Foreign currency gain (loss)	$ 880	$ (3,058)	$ (488)	$ (6,993)
Other miscellaneous income (expense)	308	121	601	(697)
Total other income (expense), net	$ 1,188	$ (2,937)	$ 113	$ (7,690)

Subsequent Events - Additional

Subsequent Events - Additional Information (Detail) - Senior Notes Due 2026 - Senior Notes - Subsequent Event	Nov. 03, 2016USD ($)
Subsequent Event [Line Items]
Debt issued	$ 750,000,000
Debt issuance price (as a percent)	99.965%
Stated interest percentage	3.45%