Westinghouse Air Brake Technologies (WAB) 10-K 17 Feb 22 2021 FY Annual report Financial data

COVER PAGE

COVER PAGE - USD ($) $ in Billions	12 Months Ended
	Dec. 31, 2021	Feb. 11, 2022	Jun. 30, 2021
Cover [Abstract]
Document Type	10-K
Document Annual Report	true
Document Period End Date	Dec. 31, 2021
Current Fiscal Year End Date	--12-31
Document Transition Report	false
Entity File Number	033-90866
Entity Registrant Name	WESTINGHOUSE AIR BRAKE TECHNOLOGIES CORP
Entity Incorporation, State or Country Code	DE
EIN	25-1615902
Entity Address, Address Line One	30 Isabella Street
Entity Address, City or Town	Pittsburgh
Entity Address, State or Province	PA
Entity Address, Postal Zip Code	15212
City Area Code	412
Local Phone Number	825-1000
Title of 12(b) Security	Common Stock, par value $.01 per share
Trading Symbol	WAB
Security Exchange Name	NYSE
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Emerging Growth Company	false
Entity Small Business	false
ICFR Auditor Attestation Flag	true
Entity Shell Company	false
Entity Public Float			$ 15.4
Entity Common Stock, Shares Outstanding (in shares)		185,290,114
Documents Incorporated by Reference	Portions of the Proxy Statement for the registrant’s Annual Meeting of Stockholders to be held on May 18, 2022 are incorporated by reference into Part III of this Form 10-K.
Entity Central Index Key	0000943452
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	FY
Amendment Flag	false

Audit Information

Audit Information	12 Months Ended
	Dec. 31, 2021
Auditor Information [Abstract]
Auditor Name	Ernst & Young LLP
Auditor Location	Pittsburgh, Pennsylvania
Auditor Firm ID	42

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions	Dec. 31, 2021	Dec. 31, 2020
Assets
Cash and cash equivalents	$ 473	$ 599
Accounts receivable	1,085	969
Unbilled accounts receivable	392	443
Inventories	1,689	1,642
Other current assets	193	227
Total current assets	3,832	3,880
Property, plant and equipment, net	1,497	1,601
Goodwill	8,587	8,485
Other intangible assets, net	3,705	3,869
Other noncurrent assets	833	619
Total noncurrent assets	14,622	14,574
Total Assets	18,454	18,454
Liabilities
Accounts payable	1,012	909
Customer deposits	629	643
Accrued compensation	335	242
Accrued warranty	228	240
Current portion of long-term debt	2	447
Other accrued liabilities	704	745
Total current liabilities	2,910	3,226
Long-term debt	4,056	3,792
Accrued postretirement and pension benefits	77	114
Deferred income taxes	288	168
Contingent consideration	141	218
Other long term liabilities	743	783
Total Liabilities	8,215	8,301
Commitments and Contingencies (Note 18)
Equity
Common stock, $.01 par value; 500.0 shares authorized: 226.9 and 226.9 shares issued and 185.8 and 188.9 outstanding at December 31, 2021 and 2020, respectively	2	2
Additional paid-in capital	7,916	7,881
Treasury stock, at cost, 41.1 and 38.0 shares, at December 31, 2021 and 2020, respectively	(1,306)	(1,010)
Retained earnings	4,055	3,589
Accumulated other comprehensive loss	(466)	(339)
Total Westinghouse Air Brake Technologies Corporation shareholders’ equity	10,201	10,123
Noncontrolling interest	38	30
Total Equity	10,239	10,153
Total Liabilities and Equity	$ 18,454	$ 18,454

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Dec. 31, 2021	Dec. 31, 2020
Statement of Financial Position [Abstract]
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	500,000,000	500,000,000
Common stock, shares issued (in shares)	226,900,000	226,900,000
Common stock, shares outstanding (in shares)	185,800,000	188,900,000
Treasury stock, shares (in shares)	41,100,000	38,000,000

CONSOLIDATED STATEMENTS OF INCO

CONSOLIDATED STATEMENTS OF INCOME - USD ($) shares in Millions, $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Net sales:
Total net sales	$ 7,822	$ 7,556	$ 8,200
Cost of sales:
Total cost of sales	(5,453)	(5,419)	(5,922)
Gross profit	2,369	2,137	2,278
Operating expenses:
Selling, general and administrative expenses	(1,030)	(948)	(1,167)
Engineering expenses	(176)	(162)	(210)
Amortization expense	(287)	(282)	(238)
Total operating expenses	(1,493)	(1,392)	(1,615)
Income from operations	876	745	663
Other income and expenses:
Interest expense, net	(177)	(199)	(219)
Other income, net	38	11	3
Income before income taxes	737	557	447
Income tax expense	(172)	(145)	(120)
Net income	565	412	327
Less: Net (income) loss attributable to noncontrolling interest	(7)	2	0
Net income attributable to Wabtec shareholders	$ 558	$ 414	$ 327
Basic
Net income attributable to Wabtec shareholders (in dollars per share)	$ 2.96	$ 2.18	$ 1.91
Diluted
Net income attributable to Wabtec shareholders (in dollars per share)	$ 2.96	$ 2.17	$ 1.84
Weighted average shares outstanding
Basic (in shares)	187.7	189.9	170.5
Diluted (in shares)	188.1	190.4	177.3
Product
Net sales:
Total net sales	$ 6,205	$ 6,233	$ 6,908
Cost of sales:
Total cost of sales	(4,545)	(4,629)	(5,128)
Services
Net sales:
Total net sales	1,617	1,323	1,292
Cost of sales:
Total cost of sales	$ (908)	$ (790)	$ (794)

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Statement of Comprehensive Income [Abstract]
Net income attributable to Wabtec shareholders	$ 558	$ 414	$ 327
Foreign currency translation (loss) gain	(136)	48	(106)
Unrealized (loss) gain on derivative contracts	(10)	8	(4)
Unrealized gain (loss) on pension benefit plans and post-retirement benefit plans	21	(14)	(22)
Other comprehensive (loss) income before tax	(125)	42	(132)
Income tax (expense) benefit related to components of other comprehensive (loss) income	(2)	2	6
Other comprehensive (loss) income, net of tax	(127)	44	(126)
Comprehensive income attributable to Wabtec shareholders	$ 431	$ 458	$ 201

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Operating Activities
Net income	$ 565	$ 412	$ 327
Adjustments to reconcile net income to net cash provided by operations:
Depreciation and amortization	491	473	401
Stock-based compensation expense	46	20	50
Below market intangible amortization	(50)	(88)	(82)
Deferred income taxes	88	29	(27)
(Gain) Loss on disposal of property, plant and equipment	(4)	10	16
Changes in operating assets and liabilities, net of acquisitions
Accounts receivable and unbilled accounts receivable	(76)	315	(6)
Inventories	(41)	181	256
Accounts payable	109	(269)	(144)
Accrued income taxes	(4)	57	11
Accrued liabilities and customer deposits	84	(91)	(12)
Other assets and liabilities	(135)	(265)	226
Net cash provided by operating activities	1,073	784	1,016
Investing Activities
Purchase of property, plant and equipment	(130)	(136)	(186)
Proceeds from disposal of property, plant and equipment	25	21	4
Acquisitions of business, net of cash acquired	(435)	(40)	(2,996)
Net cash used for investing activities	(540)	(155)	(3,178)
Financing Activities
Proceeds from debt, net of issuance costs	5,391	3,878	3,982
Payments of debt	(5,552)	(4,077)	(3,424)
Repurchase of stock	(300)	(207)	0
Payment of contingent consideration on acquisitions	(99)	(115)	(10)
Cash dividends	(92)	(93)	(82)
Other financing activities	(1)	(5)	(5)
Net cash (used for) provided by financing activities	(653)	(619)	461
Effect of changes in currency exchange rates	(6)	(15)	(37)
Decrease in cash	(126)	(5)	(1,738)
Cash and cash equivalents, beginning of year	599	604	2,342
Cash and cash equivalents, end of year	$ 473	$ 599	$ 604

CONSOLIDATED STATEMENTS OF SHAR

CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY - USD ($) $ in Millions	Total	Common Stock	Additional Paid-in Capital	Treasury Stock	Retained Earnings	Accumulated Other Comprehensive Loss	Non-controlling Interest
Beginning balance (in shares) at Dec. 31, 2018		132,349,534		(35,734,588)
Balance beginning of period at Dec. 31, 2018	$ 2,870	$ 1	$ 915	$ (816)	$ 3,023	$ (257)	$ 4
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Cash dividends	(82)				(82)
Proceeds from treasury stock issued from the exercise of stock options and other benefit plans, net of tax	(6)		(15)	$ 9
Proceeds from treasury stock issued from the exercise of stock options and other benefit plans, net of tax, shares (in shares)				486,601
Stock based compensation	38		38
Net income (loss)	327				327
Other comprehensive income (loss), net of tax	(126)					(126)
Acquisition of GE Transportation (in shares)		94,597,646
Acquisition of GE Transportation	6,971	$ 1	6,939				31
Other	2						2
Ending balance (in shares) at Dec. 31, 2019		226,947,180		(35,247,987)
Balance end of period at Dec. 31, 2019	9,994	$ 2	7,877	$ (807)	3,268	(383)	37
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Cash dividends	(93)				(93)
Proceeds from treasury stock issued from the exercise of stock options and other benefit plans, net of tax	(5)		(9)	$ 4
Proceeds from treasury stock issued from the exercise of stock options and other benefit plans, net of tax, shares (in shares)				315,988
Stock based compensation	17		17
Net income (loss)	412				414		(2)
Other comprehensive income (loss), net of tax	43					44	(1)
Stock repurchase (in shares)				(3,127,698)
Stock repurchase	(207)			$ (207)
Other	(8)		(4)				(4)
Ending balance (in shares) at Dec. 31, 2020		226,947,180		(38,059,697)
Balance end of period at Dec. 31, 2020	10,153	$ 2	7,881	$ (1,010)	3,589	(339)	30
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Cash dividends	(92)				(92)
Proceeds from treasury stock issued from the exercise of stock options and other benefit plans, net of tax	(2)		(6)	$ 4
Proceeds from treasury stock issued from the exercise of stock options and other benefit plans, net of tax, shares (in shares)				244,541
Stock based compensation	41		41
Net income (loss)	565				558		7
Other comprehensive income (loss), net of tax	(127)					(127)
Stock repurchase (in shares)				(3,329,003)
Stock repurchase	(300)			$ (300)
Other	1						1
Ending balance (in shares) at Dec. 31, 2021		226,947,180		(41,144,159)
Balance end of period at Dec. 31, 2021	$ 10,239	$ 2	$ 7,916	$ (1,306)	$ 4,055	$ (466)	$ 38

CONSOLIDATED STATEMENTS OF SH_2

CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY (Parenthetical) - $ / shares	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Statement of Stockholders' Equity [Abstract]
Cash dividends, per share (in dollars per share)	$ 0.48	$ 0.48	$ 0.48

BUSINESS

BUSINESS	12 Months Ended
	Dec. 31, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
BUSINESS	BUSINESS Wabtec is one of the world’s largest providers of locomotives, value-added, technology-based equipment, systems and services for the global freight rail and passenger transit industries. Our highly engineered products, which are intended to enhance safety, improve productivity and reduce maintenance costs for customers, can be found on most locomotives, freight cars, passenger transit cars and buses around the world. Our core products and services are essential in the safe and efficient operation of freight rail and passenger transit vehicles. Wabtec is a global company with operations in over 50 countries and our products can be found in more than 100 countries throughout the world. In 2021, approximately 60% of the Company’s net sales came from customers outside the U.S. The COVID-19 pandemic had a materially adverse impact on our operations and business results for the years ended December 31, 2021, and 2020 which is discussed in more detail in the Results of Operations section in Part II, Item 7 of this report. COVID-19 has continued to impact our sales channels, supply chain, manufacturing operations, workforce, and other key aspects of our operations. Our top concern is, and remains, the health and well-being of our employees around the world. The outbreak and preventive measures taken to help curb the spread, including temporary plant closures during 2020 in China, India, Italy and other countries where outbreaks and stay-at-home orders were most prevalent, had an adverse impact on our operations and business results. Supply chain disruptions and labor availability have caused component and chip shortages resulting in an adverse effect on the timing of the Company’s revenue generation. Additionally, broad-based inflation, escalation of metals and commodities costs, transportation and logistics costs and labor costs have all resulted from the COVID-19 pandemic. The Company has implemented various mitigating actions to lessen the impact of supply chain disruptions caused by the COVID-19 pandemic. These actions include price escalations in long-term contracts, implementing price surcharges, driving operational efficiencies through various cost mitigation efforts and discretionary spend management, strategic sourcing alignments, and accelerating integration synergies where possible. The Company expects to continue to realize these increased costs over the next few quarters.

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	12 Months Ended
	Dec. 31, 2021
Accounting Policies [Abstract]
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Principles of Consolidation The consolidated financial statements include the accounts of the Company and all subsidiaries that it controls. For consolidated subsidiaries in which the Company's ownership is less than 100%, the outside shareholders' interests are shown as noncontrolling interests. These statements have been prepared in accordance with U.S. generally accepted accounting principles. Sales between subsidiaries are billed at prices consistent with sales to third parties and are eliminated in consolidation. Cash Equivalents Cash equivalents are highly liquid investments purchased with an original maturity of three months or less. Allowance for Doubtful Accounts The allowance for doubtful accounts receivable reflects our best estimate of expected losses inherent in our receivable portfolio determined on the basis of historical experience, relevant credit forecast information, changes to customer's solvency and other currently available evidence. The allowance for doubtful accounts was $32 million and $37 million as of December 31, 2021 and 2020, respectively. Inventories Inventories are stated at the lower of cost or net realizable value. Cost is determined under the first-in, first-out (FIFO) method. Inventory costs include material, labor and overhead. Property, Plant and Equipment Property, plant and equipment additions are stated at cost. Expenditures for renewals and improvements are capitalized. Expenditures for ordinary maintenance and repairs are expensed as incurred. The Company computes book depreciation principally on the straight-line method. Accelerated depreciation methods are utilized for income tax purposes. Leasing Arrangements The Company conducts a portion of its operations from leased facilities and finances certain equipment purchases through lease agreements. In those cases in which the lease term approximates the useful life of the leased asset or the lease meets certain other prerequisites, the leasing arrangement is classified as a financing lease. The remaining arrangements are treated as operating leases. Right-of-use lease assets are classified as long-term assets under the caption "Other noncurrent assets" and lease liabilities are classified under the captions "Other accrued liabilities" and "Other long-term liabilities" on the Consolidated Balance Sheets. Goodwill and Intangible Assets Goodwill and other intangible assets with indefinite lives are not amortized. Other intangibles (with definite lives) are amortized on a straight-line basis over their estimated economic lives. Amortizable intangible assets are reviewed for impairment when indicators of impairment are present. The Company tests goodwill and indefinite-lived intangible assets for impairment at the reporting unit level and at least annually. The Company performs its annual impairment test during the fourth quarter after the annual forecasting process is completed, and also tests for impairment whenever events or changes in circumstances indicate that the carrying value may not be recoverable. Periodically, Management of the Company assesses whether or not an indicator of impairment is present that would necessitate an impairment analysis be performed. Equity Method Investments The Company invests in privately-held companies which are accounted for using the equity method. The equity method is applied in situations where the Company has the ability to exercise significant influence, but not control, over the investee. Equity method investments are classified as other assets under the caption "Other noncurrent assets" on the Consolidated Balance Sheets. Equity method investments were $96 million and $100 million at December 31, 2021 and 2020, respectively. Depreciation Expense Depreciation of property, plant and equipment related to the manufacturing of products or services provided is included in Cost of goods or Cost of services. Depreciation of other property, plant and equipment that is not attributable to the manufacturing of products or services provided is included in Selling, general and administrative expenses or Engineering expense to the extent the property, plant, and equipment is used for research and development purposes. Warranty Costs Warranty costs are accrued based on Management’s estimates of repair or upgrade costs per unit and historical experience. Income Taxes Income taxes are accounted for under the liability method. Deferred tax assets and liabilities are determined based on differences between financial reporting and tax basis of assets and liabilities and are measured using the enacted tax rates and laws. The provision for income taxes includes federal, state and foreign income taxes. Stock-Based Compensation The Company recognizes compensation expense for stock-based compensation based on the grant date fair value amortized ratably over the requisite service period following the date of grant. Financial Derivatives and Hedging Activities In the normal course of business, the Company is exposed to interest rate, commodity price and foreign currency exchange rate fluctuations. At times, the Company limits these risks through the use of derivatives such as cross-currency swaps, foreign currency forward contracts, interest rate swaps, commodity swaps and options. In accordance with the Company's policy, derivatives are only used for hedging purposes. The Company does not use derivatives for trading or speculative purposes. Foreign currency forward contracts are agreements with a counterparty to exchange two distinct currencies at a set exchange rate for delivery on a set date at some point in the future. There is no exchange of funds until the delivery date. At the delivery date, the Company can either take delivery of the currency or settle on a net basis. For further information regarding the foreign currency forward contracts see Note 17. Foreign Currency Translation Certain of our international operations have determined that the local currency is the functional currency whereas others have determined the U.S. dollar is their functional currency. Assets and liabilities of foreign subsidiaries where the functional currency is the local currency are translated at the rate of exchange in effect on the balance sheet date while income and expenses are translated at the average rates of exchange prevailing during the period. Foreign currency gains and losses resulting from transactions and the translation of financial statements are recorded in the Company’s consolidated financial statements based upon the provisions of ASC 830 “Foreign Currency Matters.” The effects of currency exchange rate changes on intercompany transactions and balances of a long-term investment nature are accumulated and carried as a component of Accumulated other comprehensive loss. The effects of currency exchange rate changes on intercompany transactions that are denominated in a currency other than an entity’s functional currency are charged or credited to earnings. Foreign exchange transaction gains (losses) recognized in Other income, net were $8 million, $(8) million and $(14) million for 2021, 2020 and 2019, respectively. Noncontrolling Interests In accordance with ASC 810, the Company has classified noncontrolling interests as equity on our consolidated balance sheets as of December 31, 2021 and 2020. Net (income) loss attributable to noncontrolling interests was not material for the years ended December 31, 2021, 2020 and 2019. Revenue Recognition The Company accounts for Revenue under ASC 606 Revenue from Contracts with Customers . This guidance provides a five-step analysis of transactions to determine when and how revenue is recognized and requires entities to recognize revenue at an amount that reflects the consideration to which the Company expects to be entitled in exchange for transferring goods or services to a customer. A majority of the Company’s revenues are derived from performance obligations that are satisfied at a point in time when control passes to the customer which is generally at the time of shipment in accordance with agreed upon delivery terms. The remaining revenues are earned over time. All fees billed to the customer for shipping and handling are classified as a component of Net sales. All costs associated with shipping and handling are classified as a component of Cost of sales. The Company also has long-term customer agreements involving the design and production of highly engineered products that require revenue to be recognized over time because these products have no alternative use without significant economic loss, and the agreements contain an enforceable right to payment including a reasonable profit margin from the customer in the event of contract termination. Additionally, the Company has customer agreements involving the creation or enhancement of an asset that the customer controls which also require revenue to be recognized over time. Generally, the Company uses an input method for determining the amount of revenue, cost and gross margin to recognize over time for these customer agreements. The input methods used for these agreements include costs of material and labor, both of which give an accurate representation of the progress made toward complete satisfaction of a particular performance obligation. Contract revenues and cost estimates are reviewed and revised periodically throughout the year and adjustments are reflected in the accounting period as such amounts are determined. Additional information with respect to contract assets and liabilities is included in Note 8. Due to the nature of work required to be performed on the Company’s long-term projects, the estimation of total revenue and cost at completion is subject to many variables and requires significant judgment. Contract estimates related to long-term projects are based on various assumptions to project the outcome of future events that could span several years. These assumptions include cost of materials; labor availability and productivity; complexity of the work to be performed; and the performance of suppliers, customers and subcontractors that may be associated with the contract. We have a disciplined process where management reviews the progress of long term-projects periodically throughout the year. As part of this process, management reviews information including key contract matters, progress towards completion, identified risks and opportunities and any other information that could impact the Company’s estimates of revenue and costs. After completing this analysis, any adjustments to net sales, cost of goods sold, and the related impact to operating income are recognized as necessary in the period they become known. Generally, the Company’s revenue contains a single performance obligation for each distinct good or service; however, a single contract may have multiple performance obligations comprising multiple promises to customers. When there are multiple performance obligations, revenue is allocated based on the relative stand-alone selling price. Pricing is defined in our contracts on a line item basis and includes an estimate of variable consideration when required by the terms of the individual customer contract. Types of variable consideration the Company typically has include volume discounts, prompt payment discounts, price escalation clauses, liquidating damages, and performance bonuses. Sales returns and allowances are also estimated and recognized in the same period the related revenue is recognized, based upon the Company’s experience and future expectations. Remaining performance obligations represent the allocated transaction price of unsatisfied or partially unsatisfied performance obligations. As of December 31, 2021, the Company's remaining performance obligations were approximately $22 billion. The Company expects to recognize revenue of approximately 25% of remaining performance obligations over the next 12 months, with the remainder recognized thereafter. Revolving Receivables Program In May 2020, the Company entered into a revolving agreement to transfer up to $150 million of certain receivables of certain subsidiaries of the Company (the "Originators") through our bankruptcy-remote subsidiary to a financial institution on a recurring basis in exchange for cash equal to the gross receivables transferred. The bankruptcy remote subsidiary is a separate legal entity with its own creditors, and its assets are not available to pay creditors of the Company or any other affiliates of the Company. During the first quarter of 2021, the Company amended its revolving agreement to increase the amount of certain receivables that can be transferred from $150 million to $200 million. As customers pay their balances, we transfer additional receivables into the program, resulting in our gross receivables sold exceeding net cash flow impacts (e.g., collect and reinvest). The sold receivables are fully guaranteed by our bankruptcy-remote subsidiary that are pledged as collateral under this agreement. At December 31, 2021, and 2020 the bankruptcy-remote subsidiary held receivables of $324 million and $114 million, respectively. The transfers are recorded at the fair value of the proceeds received and obligations assumed less derecognized receivables. No obligation was recorded at December 31, 2021 or 2020 as the estimated expected credit losses on receivables sold is insignificant. Our maximum exposure to loss related to these receivables transferred is limited to the amount outstanding. The Company has agreed to guarantee the performance of the Originators respective obligations under the revolving agreement. None of the Company (except for the bankruptcy-remote consolidated subsidiary referenced above) nor the Originators guarantees the collectability of the receivables under the revolving agreements. The following table sets forth a summary of receivables sold: In millions Twelve Months Ended Twelve Months Ended Gross receivables sold/cash proceeds received $ 1,319 $ 852 Collections reinvested under revolving agreement 1,372 779 Net cash proceeds (remitted) received (53) 73 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 $86 million and $87 million at December 31, 2021 and 2020, respectively. Preferred Stock The Company’s authorized capital stock includes 1,000,000 shares of preferred stock. The Board of Directors has the authority to issue the preferred stock and to fix the designations, powers, preferences and rights of the shares of each such class or series, including dividend rates, conversion rights, voting rights, terms of redemption and liquidation preferences, without any further vote or action by the Company’s shareholders. The rights and preferences of the preferred stock would be superior to those of the common stock. At December 31, 2021 and 2020 there was no preferred stock issued or outstanding. Significant Customers and Concentrations of Credit Risk The Company’s trade receivables are primarily from rail and transit industry original equipment manufacturers, Class I railroads, railroad carriers and commercial companies that utilize rail cars in their operations, such as utility and chemical companies. No one customer accounted for more than 10% of the Company’s consolidated net sales in 2021, 2020 or 2019. 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 materially from the estimates. On an ongoing basis, Management reviews its estimates based on currently available information. Changes in facts and circumstances may result in revised estimates. Accounting Standards Adopted in 2021 In December 2019, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") 2019-12, Income Taxes: Simplifying the Accounting for Income Taxes . The amendments in this update simplify the accounting for certain income tax transactions by removing specific exceptions to the general principles in Accounting Standards Codification ("ASC") 740, "Income Taxes." This guidance was effective for fiscal years beginning after December 15, 2020 with early adoption permitted. The adoption of this standard did not have a material impact on the Company's consolidated financial statements. Accounting Standards Issued in 2021 In October 2021, the FASB issued ASU 2021-08, Business Combinations (Topic 805): Accounting for Contract Assets and Contract Liabilities from Contracts with Customers . The amendments in this update provide specific guidance on how to recognize and measure acquired contract assets and contract liabilities from revenue contracts in a business combination and address how to determine whether a contract liability is recognized by the acquirer in a business combination. The amendments in this update will be effective for Wabtec on January 1, 2023 and will be applied prospectively to business combinations occurring on or after the effective date.

ACQUISITIONS

ACQUISITIONS	12 Months Ended
	Dec. 31, 2021
Business Combination and Asset Acquisition [Abstract]
ACQUISITIONS	ACQUISITIONS Nordco On March 31, 2021, the Company acquired Nordco, a leading North American supplier of new, rebuilt and used maintenance of way equipment. Nordco's products and services portfolio includes mobile railcar movers and ultrasonic rail flaw detection technologies. The purchase price paid for 100% ownership of Nordco was approximately $410 million. The following table summarizes the preliminary fair value of the Nordco assets acquired and liabilities assumed: In millions Assets acquired Cash and cash equivalents $ 5 Accounts receivable 23 Inventory 34 Other current assets 2 Property, plant and equipment 17 Goodwill 214 Other intangible assets 168 Other noncurrent assets 12 Total assets acquired 475 Liabilities assumed Current liabilities 19 Noncurrent liabilities 46 Total liabilities assumed 65 Net assets acquired $ 410 The fair values of the assets acquired and liabilities assumed were determined using the income, cost and market approaches. Discounted cash flow models were used to estimate the fair values of acquired intangibles. The fair value measurements were primarily based on significant inputs that are not observable in the market and are considered Level 3 in the fair value hierarchy. These estimates are preliminary in nature and subject to adjustments, which could be material. Any necessary adjustments will be finalized within one year from the date of acquisition; adjustments to date have not been significant. Intangible assets acquired include customer relationships and intellectual property that are subject to amortization, and trade names that were assigned an indefinite life and are not subject to amortization. Contingent liabilities assumed as part of the transaction were not material. Goodwill was calculated as the difference between the acquisition date fair value of the consideration transferred and the fair value of the net assets acquired, and represents the assembled workforce and the future economic benefits, including synergies, that are expected to be achieved as a result of the acquisition. The purchased goodwill is not expected to be deductible for tax purposes. The results of this business since the date of acquisition are reported within the Freight segment and the Services product line. The pro forma impact on Wabtec’s sales and results of operations, including the pro forma effect of events that are directly attributable to the acquisition, was not significant. General Electric Transportation Wabtec, General Electric Company ("GE"), GE Transportation, a Wabtec company formerly known as Transportation System Holdings Inc. ("SpinCo"), which was a newly formed wholly owned subsidiary of GE, and Wabtec US Rail Holdings, Inc. ("Merger Sub"), which was a newly formed wholly owned subsidiary of the Company, entered into the Original Merger Agreement on May 20, 2018, and GE, SpinCo, Wabtec and Wabtec US Rail, Inc. ("Direct Sale Purchaser") entered into the Original Separation Agreement on May 20, 2018, which together provided for the combination of Wabtec and GE Transportation. The Original Merger Agreement and Original Separation Agreement were subsequently amended on January 25, 2019 and the Merger was completed on February 25, 2019. As part of the Merger, certain assets of GE Transportation, including the equity interests of certain pre-Transaction subsidiaries of GE that compose part of GE Transportation, were sold to Direct Sale Purchaser for a cash payment of $2.875 billion, and Direct Sale Purchaser assumed certain liabilities of GE Transportation in connection with this purchase (the "Direct Sale"). Thereafter, GE transferred the SpinCo business to SpinCo and its subsidiaries (to the extent not already held by SpinCo and its subsidiaries), and SpinCo issued to GE shares of SpinCo Class A preferred stock, SpinCo Class B preferred stock, SpinCo Class C preferred stock and additional shares of SpinCo common stock. Following this issuance of additional SpinCo common stock to GE, and immediately prior to the Distribution (as defined below), GE owned 8,700,000,000 shares of SpinCo common stock, 15,000 shares of SpinCo Class A preferred stock, 10,000 shares of SpinCo Class B preferred stock and one share of SpinCo Class C preferred stock, which constituted all of the outstanding stock of SpinCo. Following the Direct Sale, GE distributed the distribution shares of SpinCo in a spin-off transaction to its stockholder (the "Distribution"). Immediately after the Distribution, Merger Sub merged with and into SpinCo (the "Merger"), whereby the separate corporate existence of Merger Sub ceased and SpinCo continued as the surviving company and a wholly owned subsidiary of Wabtec (except with respect to shares of SpinCo Class A preferred stock held by GE). In the Merger, subject to adjustment in accordance with the Merger Agreement, each share of SpinCo common stock converted into the right to receive a number of shares of Wabtec common stock based on the common stock exchange ratio set forth in the Merger Agreement and the share of SpinCo Class C preferred stock was converted into the right to receive (a) 10,000 shares of Wabtec convertible preferred stock and (b) a number of shares of Wabtec common stock equal to 9.9% of the fully-diluted pro forma Wabtec shares. Immediately prior to the Merger, Wabtec paid $10 million in cash to GE in exchange for all of the shares of SpinCo Class B preferred stock. Upon consummation of the Merger, Wabtec issued 46,763,975 shares of common stock to the holders of GE common stock, 19,018,207 shares of common stock to GE and 10,000 shares of preferred stock to GE and made a cash payment to GE of $2.885 billion. As a result and calculated based on Wabtec’s outstanding common stock on a fully-diluted, as-converted and as-exercised basis, as of February 25, 2019, approximately 49.2% of the outstanding shares of Wabtec common stock was held collectively by GE and holders of GE common stock (with 9.9% held by GE directly in shares of Wabtec common stock and 15% underlying the shares of Wabtec convertible preferred stock held by GE) and approximately 50.8% of the outstanding shares of Wabtec common stock would be held by pre-Merger Wabtec stockholders, in each case calculated on a fully-diluted, as-converted and as-exercised basis. Following the Merger, GE also retained 15,000 shares of SpinCo Class A non-voting preferred stock, and Wabtec held 10,000 shares of SpinCo Class B non-voting preferred stock. After the Merger, SpinCo, which is Wabtec’s wholly owned subsidiary (except with respect to shares of SpinCo Class A preferred stock held by GE), and Direct Sale Purchaser, which also is Wabtec’s wholly owned subsidiary, together, SpinCo and Direct Sale Purchaser own and operate the post-transaction GE Transportation. All shares of the Company’s common stock, including those issued in the Merger, are listed on the NYSE under the Company’s current trading symbol “WAB.” On the date of the Distribution, GE and SpinCo, directly or through subsidiaries entered into additional agreements relating to, among other things, intellectual property, employee matters, tax matters, research and development and transition services. On May 6, 2019, GE completed the sale of approximately 8,780 shares of Wabtec's Series A Preferred stock which converted upon the sale to 25,300,000 shares of Wabtec's common stock. On August 9, 2019, GE completed a sale of the remaining shares of Series A Preferred Stock outstanding which converted to approximately 3,515,500 shares of common stock, as well as 16,969,656 shares of common stock owned directly by GE. Finally, on September 12, 2019, GE completed a sale of all of its remaining shares of common stock of Wabtec, approximately 2,048,515 shares. In conjunction with these secondary offerings, the Company waived the requirements under the shareholders agreement for GE to maintain certain ownership levels of Wabtec's stock following the closing date of the Merger. The Company did not receive any proceeds from the sale of any of these shares. Total future consideration to be paid by Wabtec to GE included a fixed payment of $470 million, of which $99 million and $115 million were paid during 2021 and 2020, respectively, which is directly related to the timing of tax benefits expected to be realized by Wabtec as a result of the acquisition of GE Transportation. This payment is considered contingent consideration because the timing of cash payments to GE is directly related to the future timing of tax benefits received by the Company as a result of the acquisition of GE Transportation. The estimated total value of the consideration to be paid by Wabtec in the acquisition transactions is approximately $10.3 billion, including the cash paid for the Direct Sales Assets, equity transferred for SpinCo, contingent consideration, assumed debt and net of cash acquired. The consideration is based on the Company’s closing share price of $73.36 on February 22, 2019 and the fair value of the contingent consideration. The fair values of the assets acquired and liabilities assumed were determined using the income, cost and market approaches. Discounted cash flow models were used to estimate the fair values of acquired contract backlog, customer relationships, intellectual property intangibles, and below-market customer contracts liabilities. The fair value measurements were primarily based on significant inputs that are not observable in the market and are considered Level 3. The noncontrolling interest includes equity interests in GE Transportation's Brazil operations held by third parties on the date of acquisition. At the time of acquisition, quotable market prices of the noncontrolling interest existed; therefore, the noncontrolling interest in the GE Transportation Brazil operations were measured using a Level 1 input. In April 2019, the Company acquired the noncontrolling interest in GE Transportation's Brazil operations for $56 million which approximated the fair value assigned to the noncontrolling interest on the date of acquisition. The remaining noncontrolling interest value was determined based on inputs that are not observable in the market and are considered Level 3. The following table summarizes the final fair value of the GE Transportation assets acquired and liabilities assumed: In millions Assets acquired Cash and cash equivalents $ 177 Accounts receivable 541 Inventories 1,190 Other current assets 71 Property, plant, and equipment 1,089 Goodwill 5,984 Trade names 55 Customer relationships 550 Intellectual property 1,180 Backlog 1,450 Other noncurrent assets 321 Total assets acquired 12,608 Liabilities assumed Current liabilities 1,594 Contingent consideration 440 Other noncurrent liabilities 667 Total liabilities assumed 2,701 Net assets acquired 9,907 Noncontrolling interest $ 88 The revisions to the initial estimates were based on information that existed at the date of the acquisition. Trade names, customer relationships, patents and backlog intangible assets are subject to amortization. Customer relationship and backlog intangible assets are amortized using the straight-line method of amortization using a shortened estimated useful life then the projected future cash flow benefits of the intangible assets. Contingent liabilities assumed as part of the transaction were not material and are related to legal and tax matters. Contingent liabilities are recorded at fair value in purchase accounting, aside from those pertaining to uncertainty in income taxes which are an exception to the fair value basis of accounting. Included in other noncurrent liabilities are approximately $525 million of customer contracts whose terms are unfavorable compared to market terms at the date of consummation of the GE Transportation acquisition. Goodwill was calculated as the difference between the acquisition date fair value of the consideration transferred and the fair value of the net assets acquired, and represents the future economic benefits, including synergies, and assembled workforce, that are expected to be achieved as a result of the consummation of the acquisition of GE Transportation. A majority of the purchased goodwill is expected to be deductible for tax purposes. The goodwill has been allocated to the Freight segment. Costs related to the acquisition and integration of GE Transportation were approximately $3 million, $48 million and $63 million for the years ended December 31, 2021, 2020 and 2019, respectively, and are included in Selling, general and administrative expenses on the Consolidated Statements of Income. The following unaudited pro forma consolidated financial information presents income statement results as if the GE Transportation acquisition had occurred January 1, 2018: In millions, except per share data Twelve Months Ended December 31, 2019 Net sales $ 8,676 Gross profit 2,343 Net income attributable to Wabtec shareholders 277 Diluted earnings per share As Reported $ 1.84 Pro forma $ 1.45 The historical consolidated financial information of the Company and the GE Transportation acquisition detailed above has been adjusted in the pro forma information to give effect to pro forma events that are (1) directly attributable to the transactions, (2) factually supportable and (3) expected to have a continuing impact on the combined results. Pro forma data may not be indicative of the results that would have been obtained had the GE Transportation acquisition occurred at the beginning of the periods presented, nor is it intended to be a projection of future results. The Company also made smaller acquisitions not listed above which are individually and collectively immaterial.

SUPPLEMENTAL CASH FLOW DISCLOSU

SUPPLEMENTAL CASH FLOW DISCLOSURES	12 Months Ended
	Dec. 31, 2021
Supplemental Cash Flow Elements [Abstract]
SUPPLEMENTAL CASH FLOW DISCLOSURES	SUPPLEMENTAL CASH FLOW DISCLOSURES Year Ended December 31, 2021 2020 2019 In millions Interest paid during the year $ 164 $ 174 $ 193 Income taxes paid during the year, net of amount refunded $ 123 $ 129 $ 100 Business acquisitions: Fair value of assets acquired $ 507 $ 70 $ 12,613 Liabilities assumed 68 35 2,466 Non-controlling interest (acquired) assumed (1) (6) 31 Stock and cash paid 440 41 10,116 Less: Cash acquired 5 1 180 Stock used for acquisition — — 6,940 Net cash paid $ 435 $ 40 $ 2,996

INVENTORIES

INVENTORIES	12 Months Ended
	Dec. 31, 2021
Inventory Disclosure [Abstract]
INVENTORIES	INVENTORIES The components of inventory, net of reserves, were: December 31, In millions 2021 2020 Raw materials $ 757 $ 670 Work-in-progress 316 339 Finished goods 616 633 Total inventories $ 1,689 $ 1,642

PROPERTY, PLANT & EQUIPMENT

PROPERTY, PLANT & EQUIPMENT	12 Months Ended
	Dec. 31, 2021
Property, Plant and Equipment [Abstract]
PROPERTY, PLANT & EQUIPMENT	PROPERTY, PLANT & EQUIPMENT The major classes of depreciable assets are as follows: December 31, In millions 2021 2020 Machinery and equipment $ 1,433 $ 1,375 Buildings and improvements 785 801 Land and improvements 96 98 Construction in progress 89 99 Property, plant and equipment 2,403 2,373 Less: accumulated depreciation (906) (772) Total $ 1,497 $ 1,601 The estimated useful lives of property, plant and equipment are as follows: Years Land improvements 10 to 20 Building and improvements 20 to 40 Machinery and equipment 3 to 15 Depreciation expense was $198 million, $183 million, and $158 million for 2021, 2020 and 2019, respectively.

INTANGIBLES

INTANGIBLES	12 Months Ended
	Dec. 31, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
INTANGIBLES	INTANGIBLES Goodwill and indefinite lived intangible assets are reviewed annually during the fourth quarter for impairment. For 2021, the Company opted to proceed directly to the quantitative impairment test for all reporting units with goodwill. The discounted cash flow method and the market approach were used to estimate the fair value of each reporting unit using a weighting of 75% and 25%, respectively. The discounted cash flow model requires several assumptions including future sales growth, EBIT (earnings before interest and taxes) margins, capital expenditures, a discount rate and a terminal revenue growth rate (the revenue growth rate for the period beyond the years forecasted by the reporting units) for each reporting unit. The market approach requires several assumptions including EBITDA (earnings before interest, taxes, depreciation and amortization) multiples for comparable companies that operate in the same markets as the Company’s reporting units. For 2021, the discounted cash flow method was given more weight compared to the market approach due to a relatively reduced amount of publicly available data from companies with comparable operations to those of Wabtec; however, both valuations resulted in a conclusion that the estimated fair value of all three of the Company's reporting units was in excess of their respective carrying value, which resulted in a conclusion that no impairment existed. Additionally, the Company proceeded directly to the quantitative impairment test for some trade names with indefinite lives. The fair value of all material trade names subject to the quantitative impairment test exceeded its respective carrying value, resulting in a conclusion that no material impairment existed. For trade names not subject to the quantitative testing, the Company opted to perform a qualitative trade name impairment assessment and determined from the qualitative assessment that it was not more likely than not that the estimated fair values of the trade names were less than their carrying values; therefore, no further analysis was required. In assessing the qualitative factors to determine whether it is more likely than not that the fair value of a trade name is less than its carrying amount, the Company assessed relevant events and circumstances that may impact the fair value and the carrying amount of the trade name. The identification of relevant events and circumstances and how these may impact a trade name’s fair value or carrying amount involve significant judgments and assumptions. The judgment and assumptions include the identification of macroeconomic conditions, industry and market considerations, cost factors, overall financial performance, Wabtec specific events, share price trends and making the assessment on whether each relevant factor will impact the impairment test positively or negatively and the magnitude of any such impact. The change in the carrying amount of goodwill by segment is as follows: In millions Freight Transit Total Balance at December 31, 2019 $ 6,877 $ 1,484 $ 8,361 Additions 2 — 2 Disposals (6) — (6) Foreign currency impact (1) 129 128 Balance at December 31, 2020 $ 6,872 $ 1,613 $ 8,485 Additions 214 15 229 Foreign currency impact (13) (114) (127) Balance at December 31, 2021 $ 7,073 $ 1,514 $ 8,587 As of December 31, 2021 and 2020, the Company’s trade names had a net carrying amount of $635 million and $651 million, respectively, and the Company believes these intangibles have indefinite lives, with the exception of the right to use the GE Transportation trade name, to which the Company has assigned a useful life of 5 years. Intangible assets of the Company, other than goodwill and trade names, consist of the following: December 31, In millions 2021 2020 Intellectual property, patents, and other intangibles, net of accumulated amortization of $334 and $223 $ 977 $ 1,008 Backlog, net of accumulated amortization of $309 and $206 1,114 1,224 Customer relationships, net of accumulated amortization of $331 and $276 979 986 Total $ 3,070 $ 3,218 The remaining weighted average useful lives of backlog, intellectual property, customer relationships, and other intangibles were 10 years, 11 years, 17 years, and 9 years, respectively. The backlog intangible primarily consists of in-place long-term service agreements acquired by the Company in conjunction with the acquisition of GE Transportation. Amortization expense for intangible assets was $287 million, $282 million, and $238 million for the years ended December 31, 2021, 2020, and 2019, respectively. Estimated amortization expense for the five succeeding years is as follows (in millions): 2022 $ 291 2023 $ 290 2024 $ 281 2025 $ 278 2026 $ 274

CONTRACT ASSETS AND CONTRACT LI

CONTRACT ASSETS AND CONTRACT LIABILITIES	12 Months Ended
	Dec. 31, 2021
Revenue from Contract with Customer [Abstract]
CONTRACT ASSETS AND CONTRACT LIABILITIES	CONTRACT ASSETS AND CONTRACT LIABILITIES Contract assets include unbilled amounts resulting from sales under long-term contracts where revenue is recognized over time and revenue exceeds the amount that can be billed to the customer based on the terms of the contract. The current portion of the contract assets are classified as current assets under the caption “Unbilled accounts receivable” while the noncurrent contract assets are classified as other assets under the caption "Other noncurrent assets" on the Consolidated Balance Sheets. Noncurrent contract assets were $153 million and $101 million at December 31, 2021 and 2020, respectively. Included in noncurrent contract assets are certain costs that are specifically related to a contract, however, do not directly contribute to the transfer of control of the tangible product being created, such as pre-production costs. The Company has elected to use the practical expedient and not consider unbilled amounts anticipated to be paid within one year as significant financing components. Contract liabilities include customer deposits that are made prior to the incurrence of costs related to a newly agreed upon contract and advanced customer payments that are in excess of revenue recognized. The current portion of contract liabilities are classified as current liabilities under the caption “Customer deposits” while the noncurrent contract liabilities are classified as noncurrent liabilities under the caption "Other long-term liabilities" on the Consolidated Balance Sheets. Noncurrent contract liabilities were $88 million and $80 million at December 31, 2021 and 2020, respectively. These contract liabilities are not considered a significant financing component because they are used to meet working capital demands that can be higher in the early stages of a contract and revenue associated with the contract liabilities is expected to be recognized within one year. Contract liabilities also include provisions for estimated losses from uncompleted contracts. Provisions for loss contracts were $107 million and $109 million at December 31, 2021 and 2020, respectively. These provisions for estimated losses are classified as current liabilities and included within the caption “Other accrued liabilities” on the Consolidated Balance Sheets. The following table reconciles the changes in the Company’s contract assets and liabilities as follows: Contract Assets In millions 2021 2020 Balance at beginning of year $ 544 $ 623 Acquisitions — 4 Recognized in current year 617 850 Reclassified to accounts receivable (602) (950) Foreign currency impact (14) 17 Balance at end of year $ 545 $ 544 Contract Liabilities In millions 2021 2020 Balance at beginning of year $ 832 $ 800 Acquisitions 2 7 Recognized in current year 740 872 Amounts in beginning balance reclassified to revenue (463) (532) Current year amounts reclassified to revenue (273) (326) Foreign currency impact (14) 11 Balance at end of year $ 824 $ 832

LONG-TERM DEBT

LONG-TERM DEBT	12 Months Ended
	Dec. 31, 2021
Debt Disclosure [Abstract]
LONG-TERM DEBT	LONG-TERM DEBT Long-term debt consisted of the following: December 31, Effective 2021 2020 In millions Face Book Fair Value 1 Book Fair Value 1 Senior Credit and 364 Day Facility 2 : U.S. dollar-denominated Term Loans 3 — % N/A $ — $ — $ 645 $ 645 Multi-Currency Revolving loan facility 1.5 % N/A — — — — Senior Notes: 4.375% Senior Notes, due 2023 4.5 % $ 250 250 260 249 267 4.15% Senior Notes, due 2024 4.6 % $ 750 747 796 746 817 3.20% Senior Notes, due 2025 3.4 % $ 500 497 523 496 533 3.45% Senior Notes, due 2026 3.5 % $ 750 749 795 749 820 1.25% Senior Notes (EUR), due 2027 1.5 % € 500 560 574 — — 4.70% Senior Notes, due 2028 5.0 % $ 1,250 1,243 1,423 1,242 1,472 Other Borrowings 12 12 112 113 Total 4,058 4,383 4,239 4,667 Less: current portion 2 2 447 447 Long-term portion $ 4,056 $ 4,381 $ 3,792 $ 4,220 1. See Note 17 for information on the fair value measurement of the Company's long-term debt. 2. During the second quarter of 2021, the Company repaid all outstanding term loan borrowings and related interest under the Senior Credit Facility and the 364 Day Facility. 3. U.S. dollar-denominated Term Loans includes the total outstanding balance of term loans denominated in U.S. dollars from the Senior Credit Facility and the 364 Day Facility. Variances between Face Value and Book Value are the result of unamortized discounts and debt issuance fees. The Company borrows and repays against the Multi-Currency Revolving loan facility for added flexibility in liquidity to manage cash during the operating cycle. The proceeds from borrowing and the repayments are included within the Financing Activities section of the Consolidated Statements of Cash Flows. As of December 31, 2021, the annual repayment requirements for debt obligations are as follows: In millions 2022 $ 2 2023 250 2024 762 2025 500 2026 750 Thereafter 1,817 Total $ 4,081 For those debt securities that have a premium or discount at the time of issuance, the Company amortizes the amount through interest expense based on the maturity date or the first date the holders may require the Company to repurchase the debt securities, if applicable. A premium would result in a decrease in interest expense, and a discount would result in an increase in interest expense in future periods. Additionally, the Company has debt issuance costs related to certain financing transactions which are also amortized through interest expense. As of December 31, 2021 and 2020, the Company had total unamortized debt issuance costs and discounts of $23 million and $21 million, respectively. At December 31, 2021, the weighted average interest rate on the Company's available variable debt facilities was 1.5%. Credit Facilities Senior Credit Facility On June 8, 2018, the Company entered into a credit agreement ("Senior Credit Facility"), which replaced the Company's then-existing credit agreement. The Senior Credit Facility is with a syndicate of lenders and provides for borrowings consisting of (i) term loans denominated in euros and U.S. dollars ("Term Loans"); and (ii) a multi-currency revolving loan facility, providing for an equivalent in U.S. dollars of up to $1,200 million in multi-currency revolving loans (inclusive of swingline loans of up to $75 million and letters of credit of up to $450 million (the "Revolving Credit Facility")). The Revolving Credit Facility will mature on June 8, 2023. Under the Senior Credit Facility, we can elect to receive advances bearing interest based on either the ABR rate, the LIBOR rate or the adjusted risk free rate (each as defined in the Senior Credit Facility) plus applicable margin that is determined based on our credit ratings or the Company's Leverage. The agreement contains affirmative, negative and financial covenants, and events of default customary for facilities of this type. The obligations under the Senior Credit Facility are guaranteed by Wabtec and certain of Wabtec's U.S. subsidiaries, as guarantors. The Company has agreed that, so long as any lender has any commitment under the Senior Credit Facility, any letter of credit is outstanding under the Senior Credit Facility, or any loan or other obligation is outstanding under the Senior Credit Facility, it will maintain the following as of the end of each fiscal quarter or the period of four quarters the ended: Interest Coverage Ratio 1 3.0x Leverage Ratio 2 3.25x 1. The interest coverage ratio is defined as EBITDA (earnings before interest, taxes, depreciation, and amortization), as defined in the Senior Credit Facility, to net interest expense for the four quarters then ended. 2. The leverage ratio is defined as net debt as of the last day of such fiscal quarter to EBITDA, as defined in the Senior Credit Facility for the four quarters then ended. The Senior Credit Facility was amended in the second quarter of 2021 so the Company may increase the maximum leverage ratio to (x) 3.75 to 1.00 at the end of the fiscal quarter in which the Nordco acquisition was consummated and each of the three fiscal quarters immediately following such fiscal quarter and (y) 3.50 to 1.00 at the end of each of the fourth and fifth full fiscal quarters after the consummation of the Nordco acquisition upon the Company's request. The Company has not requested any increase in the leverage ratio at this time. The Company was in compliance with all covenants in the Senior Credit Facility as of December 31, 2021. The following table presents availability under the Revolving Facilities: (in millions) Revolving Credit Facility Maximum Availability $ 1,200 Letters of Credit Under Credit Agreement (3) Current Availability $ 1,197 364-Day Facility On April 10, 2020 the Company entered into a new $600 million 364 day credit facility ("364 Day Facility") maturing April 2021 with a group of banks which included a $144 million revolving credit facility ("364 Day Revolver") and a $456 million term loan ("364 Term Loan"). The agreement called for interest at either a LIBOR-based rate, or a rate based on the prime lending rate of the agent bank, at the Company's option. The agreement contained affirmative, negative and financial covenants, and events of default customary for facilities of this type and substantially similar to our existing Senior Credit Facility. The obligations under the 364 Day Facility were guaranteed by certain of the Company's U.S. subsidiaries, as guarantors. On June 12, 2020, the Company amended the 364 Day Facility maturity to July 9, 2021. On June 3, 2021, the Company repaid all outstanding borrowings and related interest, effectively retiring the facility. Senior Notes The Company or its subsidiaries may issue senior notes from time to time. These notes are comprised of our 4.375% Senior Notes due 2023 (the "2023 Notes"), 4.15% Senior Notes due 2024 (the "2024 Notes"), 3.20% Senior Notes due 2025 (the "2025 Notes"), 3.45% Senior Notes due 2026 (the "2026 Notes"), 1.25% Senior Notes (EUR) due 2027 (the "Euro Notes" discussed below), and 4.70% Senior Notes due 2028 (the "2028 Notes"). The 2023 Notes, 2024 Notes, 2025 Notes, 2026 Notes and 2028 Notes are the “US Notes”, and collectively with the Euro Notes, the “Senior Notes.” Interest on the US Notes is payable semi-annually and interest on the Euro Notes is paid annually. Each series of the Senior Notes may be redeemed any time in whole or from time to time in part in accordance with the provisions of the indenture, under which such series of notes was issued. Each of the Senior Notes may be redeemed at a redemption price of 100% of the principal amount plus a specified make-whole premium and accrued interest. The US Notes and the Company's guarantee of the Euro 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. On June 3, 2021, Wabtec Transportation Netherlands B.V. ("Wabtec Netherlands") issued €500 million of 1.25% Senior Notes due in 2027, which are fully and unconditionally guaranteed by the Company. The Euro Notes were issued at 99.267% of face value. Interest on the Euro Notes accrues at a rate of 1.25% per annum and is payable annually beginning December 3, 2021. The Company incurred approximately $4 million of deferred financing costs related to the issuance of the Euro Notes for total net proceeds of approximately $599 million after consideration of the discount. On June 29, 2020, the Company issued $500 million of 3.20% Senior Notes due in 2025 (the "2025 Notes"). The 2025 Notes were issued at 99.892% of face value. Interest on the 2025 Notes accrues at a rate of 3.20% per annum and is payable semi-annually on June 15 and December 15 of each year beginning December 15, 2020. The proceeds were used to redeem outstanding variable rate debt. The Company incurred $2 million of deferred financing costs related to the issuance of the 2025 Notes. The indentures under which the Senior Notes were issued contain covenants and restrictions which limit, subject to certain exceptions, certain sale and leaseback transactions with respect to principal properties, the incurrence of secured debt without equally and ratably securing the Senior Notes, and certain merger and consolidation transactions. The covenants do not require the Company to maintain any financial ratios or specified levels of net worth or liquidity. The US Notes are fully and unconditionally guaranteed, jointly and severally, on an unsecured basis by each of the Company's subsidiaries that is a guarantor under the Senior Credit Facility. The Company is in compliance with the restrictions and covenants in the indentures under which the Senior Notes were issued and expects that these restrictions and covenants will not be any type of limiting factor in executing our operating activities. Cash Pooling Wabtec aggregates the Company's domestic cash position on a daily basis. Outside the United States, the Company uses cash pooling arrangements with banks to help manage our liquidity requirements. In these pooling arrangements, Wabtec subsidiary “Participants” agree with a single bank that the cash balances of any of the pool Participants with the bank will be subject to a full right of set-off against amounts other Participants owe the bank, and the bank provides for overdrafts as long as the net balance for all Participants does not exceed an agreed-upon level. Typically, each Participant pays interest on outstanding overdrafts and receives interest on cash balances. The Company's Consolidated Balance Sheets reflect cash, net of bank overdrafts, under all pooling arrangements. Letters of Credit and Bank Guarantees

EMPLOYEE BENEFIT PLANS

EMPLOYEE BENEFIT PLANS	12 Months Ended
	Dec. 31, 2021
Retirement Benefits [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 significant defined benefit pension plans summarized by U.S. and international components. Obligations and Funded Status U.S. International In millions 2021 2020 2021 2020 Change in projected benefit obligation Obligation at beginning of year $ (43) $ (41) $ (385) $ (347) Service cost — — (4) (4) Interest cost (1) (1) (4) (6) Employee contributions — — (1) — Plan settlements and amendments — — 1 (2) Benefits paid 3 3 13 14 Actuarial gain (loss) 2 (4) 15 (22) Effect of currency rate changes — — 9 (18) Obligation at end of year $ (39) $ (43) $ (356) $ (385) Change in plan assets Fair value of plan assets at beginning of year $ 36 $ 34 $ 305 $ 270 Actual return on plan assets 2 4 11 25 Employer contributions 5 1 11 10 Employee contributions — — 1 1 Benefits paid (3) (3) (13) (14) Settlements and other — — (3) 2 Effect of currency rate changes — — (5) 11 Fair value of plan assets at end of year $ 40 $ 36 $ 307 $ 305 Funded status Fair value of plan assets $ 40 $ 36 $ 307 $ 305 Benefit obligations (39) (43) (356) (385) Funded status $ 1 $ (7) $ (49) $ (80) Amounts recognized in the statement of financial position consist of: Noncurrent assets $ 1 $ — $ 17 $ 14 Current liabilities — — (2) (3) Noncurrent liabilities — (7) (64) (91) Net amount recognized $ 1 $ (7) $ (49) $ (80) Amounts recognized in Accumulated other comprehensive loss, before tax consist of: Prior service cost — — (1) (1) Net actuarial loss (16) (19) (70) (90) Net amount recognized $ (16) $ (19) $ (71) $ (91) The aggregate accumulated benefit obligation for the U.S. pension plans was $38 million and $42 million as of December 31, 2021 and 2020, respectively. The aggregate accumulated benefit obligation for the international pension plans was $345 million and $372 million as of December 31, 2021 and 2020, respectively. U.S. International In millions 2021 2020 2021 2020 Information for pension plans with accumulated benefit obligations in excess of Plan assets: Projected benefit obligation N/A $ (43) $ (107) $ (316) Accumulated benefit obligation N/A (42) (97) (304) Fair value of plan assets N/A 36 41 222 Information for pension plans with projected benefit obligations in excess of plan assets: Projected benefit obligation N/A $ (43) $ (112) $ (317) Accumulated benefit obligation N/A (42) (101) (305) Fair value of plan assets N/A 36 45 224 Components of Net Periodic Benefit Costs U.S. International In millions 2021 2020 2019 2021 2020 2019 Service cost $ — $ — $ — $ 4 $ 4 $ 3 Interest cost 1 1 2 4 6 7 Expected return on plan assets (1) (1) (2) (13) (12) (12) Amortization of net loss 1 1 1 4 3 3 Settlement and curtailment losses recognized — — — 1 — — Net periodic benefit cost $ 1 $ 1 $ 1 $ — $ 1 $ 1 Interest cost is recorded in Interest expense, net on the Consolidated Statements of Income. Expected return on plan assets, Amortization of net loss, and Settlement and curtailment losses recognized are recorded within Other expense, net on the Consolidated Statements of Income. Other Changes in Plan Assets and Benefit Obligations Recognized in Other Comprehensive Income during 2021 are as follows: In millions U.S. International Net gain arising during the year $ 2 $ 13 Effect of exchange rates and other — 2 Total benefit recognized in Other comprehensive income $ 2 $ 15 Total benefit recognized in Net periodic benefit cost and Other comprehensive income $ 1 $ 15 The weighted average assumptions in the following table represent the rates used to develop the actuarial present value of the projected benefit obligation for the year listed. U.S. International 2021 2020 2019 2021 2020 2019 Discount rate 2.87 % 2.47 % 3.27 % 1.97 % 1.39 % 1.84 % Expected return on plan assets 5.00 % 5.35 % 5.35 % 4.27 % 4.43 % 5.01 % Rate of compensation increase 3.00 % 3.00 % 3.00 % 2.70 % 2.65 % 2.64 % The discount rate is based on settling the pension obligation with high grade, high yield corporate bonds, and the rate of compensation increase is based on actual experience. The expected return on plan assets is based on historical performance as well as expected future rates of return on plan assets considering the current investment portfolio mix and the long-term investment strategy. The amounts of net actuarial loss and prior service cost included in other comprehensive loss expected to be recognized as components of periodic benefit costs in 2022 are not material. Pension Plan Assets The Company has established formal investment policies for the assets associated with our pension plans. Objectives include maximizing long-term return at acceptable risk levels and diversifying among asset classes. Asset allocation targets are based on periodic asset liability study results which help determine the appropriate investment strategies. The investment policies permit variances from the targets within certain parameters. The plan assets consist primarily of equity security funds, debt security funds, insurance contracts, and temporary cash and cash equivalent investments. The assets held in these funds are generally actively managed and are valued at the net asset value per share multiplied by the number of shares held as of the measurement date. (See Note 17 “Fair Value Measurement” included herein). Plan assets by asset category at December 31, 2021 and 2020 are as follows: U.S. International In millions 2021 2020 2021 2020 Pension Plan Assets Equity security funds $ 10 $ 19 $ 87 $ 75 Debt security funds 27 16 194 198 Insurance Contracts — — 15 15 Cash and cash equivalents and other 3 1 11 17 Fair value of plan assets $ 40 $ 36 $ 307 $ 305 The U.S. plan has a target asset allocation of 75% equity securities and 25% debt securities. The International plan has a target asset allocation of 10% equity securities, 22% debt securities and 68% in other investments. Investment policies are determined by the respective Plan’s Pension Committee and set forth in its Investment Policy. Rebalancing of the asset allocation occurs on a quarterly basis. The following tables summarize our pension plan assets measured at fair value on a recurring basis by fair value hierarchy level (See Note 17): December 31, 2021 In millions NAV Level 1 Level 2 Level 3 Total US: Equity $ — $ 10 $ — $ — $ 10 Debt Securities — 15 12 — 27 Cash and cash equivalents — 3 — — 3 International: Equity 7 20 60 — 87 Debt Securities — 4 190 — 194 Insurance Contracts — — 5 10 15 Cash and cash equivalents and other — 6 5 — 11 Total $ 7 $ 58 $ 272 $ 10 $ 347 December 31, 2020 In millions NAV Level 1 Level 2 Level 3 Total US: Equity $ — $ 19 $ — $ — $ 19 Debt Securities — 6 10 — 16 Cash and cash equivalents — 1 — — 1 International: Equity 6 22 47 — 75 Debt Securities — 3 195 — 198 Insurance Contracts — — 5 10 15 Cash and cash equivalents and other — 9 8 — 17 Total $ 6 $ 60 $ 265 $ 10 $ 341 There were no material changes to the Level 3 assets during 2020 and 2021. Cash Flows The Company’s funding methods are based on governmental requirements and differ from those methods used to recognize pension expense. The Company expects to contribute $3 million to the international pension plan and does not expect to make a contribution to the U.S. pension plan during 2022. Benefit payments expected to be paid to plan participants are as follows: In millions U.S. International Year ended December 31, 2022 $ 3 $ 14 2023 $ 3 $ 15 2024 $ 3 $ 15 2025 $ 3 $ 16 2026 $ 3 $ 16 2027 through 2031 $ 12 $ 90 Defined Contribution Plans

INCOME TAXES

INCOME TAXES	12 Months Ended
	Dec. 31, 2021
Income Tax Disclosure [Abstract]
INCOME TAXES	INCOME TAXES The Company is responsible for filing consolidated U.S., foreign and combined, unitary or separate state income tax returns. The Company is responsible for paying the taxes relating to such returns, including any subsequent adjustments resulting from the redetermination of such tax liabilities by the applicable taxing authorities. The components of the income before income taxes for the Company’s domestic and foreign operations for the years ended December 31 are provided below: For the year ended In millions 2021 2020 2019 Domestic $ 253 $ 78 $ 118 Foreign 484 479 329 Income before income taxes $ 737 $ 557 $ 447 The consolidated provision for income taxes included in the Consolidated Statements of Income consisted of the following: For the year ended In millions 2021 2020 2019 Current tax expense (benefit) Federal $ (81) $ 6 $ 5 State 27 17 1 Foreign 138 93 141 84 116 147 Deferred tax expense (benefit) Federal 87 36 20 State 10 (2) 3 Foreign (9) (5) (50) 88 29 (27) Total provision $ 172 $ 145 $ 120 A reconciliation of the United States federal statutory income tax rate to the effective income tax rate on operations for the years ended December 31 is provided below: For the year ended In millions 2021 2020 2019 U.S. federal statutory rate 21.0 % 21.0 % 21.0 % State taxes 0.3 2.6 0.8 Foreign 3.3 4.4 (0.4) Research and development credit (0.8) (1.3) (1.7) U.S. net operating loss carryback (3.4) — — Changes in valuation allowance 3.0 (2.0) 3.5 U.S. tax reform provision 0.7 1.3 2.0 Transaction costs related to acquisitions 0.1 — 1.0 Other, net (1.0) — 0.7 Effective rate 23.2 % 26.0 % 26.9 % The decrease in the effective tax rate is primarily the result of filing amended federal and state income tax returns in 2021. The Company amended the 2019 federal tax return to incorporate changes in tax regulations which generated a net operating loss that was carried back to tax years 2014 to 2016, which were at a higher federal tax rate. Other, net includes the impact of amended state returns reflecting changes in apportioned state income. These amendments resulted in a current year tax benefit. In addition, there was a decrease in the US tax reform provision resulting from the provisions of the Tax Cut and Jobs Act, a decrease in state tax expense and a decrease in foreign tax expense due to mix of taxable income which were partially offset by an increase in valuation allowances. Components of deferred tax assets and liabilities were as follows: December 31, In millions 2021 2020 Deferred income tax assets: Accrued expenses and reserves $ 44 $ 39 Warranty reserve 53 51 Deferred compensation/employee benefits 62 43 Right-of-use asset 76 70 Pension and postretirement obligations 24 26 Property, plant & equipment — 48 Inventory 46 45 Net operating loss carry forwards 102 83 Other 102 46 Gross deferred income tax assets 509 451 Less: Valuation allowance (64) (42) Total deferred income tax assets 445 409 Deferred income tax liabilities: Property, plant & equipment 85 — Right-of-use liability 78 69 Intangibles 503 444 Total deferred income tax liabilities 666 513 Net deferred income tax liability $ 221 $ 104 A valuation allowance is recorded when it is more likely than not that some portion or all of the deferred tax assets will not be realized. As of December 31, 2021, the valuation allowance for certain foreign deferred tax asset carryforwards was $(64) million primarily in China, Denmark, France, the Netherlands, South Africa, and the United States. The increase in valuation allowance in 2021 is primarily related to state net operating loss carry-forwards that are not expected to be realized. The Company has net operating loss carry-forwards in the amount of $311 million, of which $192 million are indefinite lived, $66 million expire within ten years and $53 million expire in various periods between December 31, 2032 to December 31, 2041. As of December 31, 2021, the liability for income taxes associated with unrecognized tax benefits was $32 million, of which $18 million, if recognized, would favorably affect the Company’s effective income tax rate. As of December 31, 2020, the liability for income taxes associated with unrecognized tax benefits was $16 million, of which $15 million, if recognized, would favorably affect the Company’s effective income tax rate. A reconciliation of the beginning and ending amount of the liability for income taxes associated with unrecognized tax benefits follows: In millions 2021 2020 2019 Gross liability for unrecognized tax benefits at beginning of year $ 16 $ 17 $ 9 Gross increases - unrecognized tax benefits in prior periods 19 4 10 Gross decreases - audit settlement during year (1) (5) — Gross decreases - expiration of audit statute of limitations (2) — (2) Gross liability for unrecognized tax benefits at end of year $ 32 $ 16 $ 17 The Company includes interest and penalties related to unrecognized tax benefits in income tax expense. As of December 31, 2021 and 2020, the total interest and penalties accrued was approximately $5 million. With limited exception, the Company is no longer subject to examination by various U.S. and foreign taxing authorities for years before 2016. At this time, the Company believes that it is reasonably possible that unrecognized tax benefits of approximately $5 million may change within the next 12 months due to the expiration of statutory review periods and current examinations.

EARNINGS PER SHARE

EARNINGS PER SHARE	12 Months Ended
	Dec. 31, 2021
Earnings Per Share [Abstract]
EARNINGS PER SHARE	EARNINGS PER SHARE The computation of earnings per share from operations is as follows: For the Year Ended In millions, except per share data 2021 2020 2019 Numerator Net income attributable to Wabtec common shareholders - basic $ 556 $ 413 $ 325 Add: dividends declared - preferred shares — — 1 Net income attributable to Wabtec common shareholders - diluted $ 556 $ 413 $ 326 Denominator Weighted average shares outstanding - basic 187.7 189.9 170.5 Effect of dilutive securities: Assumed conversion of preferred shares — — 6.4 Assumed conversion of dilutive stock-based compensation plans 0.4 0.5 0.4 Weighted average shares outstanding - diluted 188.1 190.4 177.3 Net income per common share attributable to Wabtec shareholders Basic $ 2.96 $ 2.18 $ 1.91 Diluted $ 2.96 $ 2.17 $ 1.84 The Company’s non-vested restricted stock contains rights to receive non-forfeitable 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 resulting in a variance between net income used in the numerator and Net income attributable to Wabtec shareholders shown within the Consolidated Statements of Income. Additionally, the weighted average share counts in the denominator excludes the dilutive impact of the respective non-vested restricted stock. Approximately 0.4 million, and 0.3 million outstanding shares of Common Stock for the years ended December 31, 2020 and 2019, respectively, were not included in the computation of year-to-date diluted earnings per share because their exercise price exceeded the average market price of the Company's common stock.

STOCK-BASED COMPENSATION PLANS

STOCK-BASED COMPENSATION PLANS	12 Months Ended
	Dec. 31, 2021
Share-based Payment Arrangement [Abstract]
STOCK-BASED COMPENSATION PLANS	STOCK-BASED COMPENSATION PLANS As of December 31, 2021, the Company maintains employee stock-based compensation plans for stock options, restricted stock, and incentive stock units as governed by the 2011 Stock Incentive Compensation Plan, as amended and restated (the “2011 Plan”) and the 2000 Stock Incentive Plan, as amended (the “2000 Plan”). The 2011 Plan has a term through May 10, 2027 and as of December 31, 2021 the number of shares available for future grants under the 2011 Plan was 6,399,200 shares, which includes remaining shares to grant under the 2000 Plan. The Company also maintains a 1995 Non-Employee Directors’ Fee and Stock Option Plan as amended and restated (“the Directors Plan”). The Directors Plan, as amended, authorizes a total of 1,000,000 shares of Common Stock to be issued. Under the Directors Plan options issued become exercisable over a three-year vesting period and expire ten years from the date of grant, and restricted stock issued under the plan vests one year from the date of grant. The amount of restricted stock issued to non-employee directors as compensation for directors’ fees was as follows: 18,142 shares for 2021; 23,152 shares for 2020; and 15,729 shares for 2019. The total number of shares issued under the Directors Plan as of December 31, 2021 was 951,175 shares. Stock-based compensation expense for all of the plans was $46 million, $20 million and $50 million for the years ended December 31, 2021, 2020 and 2019, respectively. The Company recognized associated tax benefits related to the stock-based compensation plans of $1 million, $2 million and $1 million for the respective periods. Included in the stock-based compensation expense for 2021 above is $3 million of expense related to stock options, $13 million related to non-vested restricted stock, $6 million related to restricted stock units, $1 million related to units issued for Directors’ fees and $23 million of expense related to incentive stock units. At December 31, 2021, unamortized compensation expense related to those stock options, non-vested restricted shares and incentive stock units expected to vest totaled $38 million and will be recognized over a weighted period of 1.3 years. Stock Options Stock options are granted to eligible employees and directors at the fair market value, which is the average of the high and low Wabtec stock price on the date of grant. Under the 2011 Plan and the 2000 Plan, options become exercisable over a three year vesting period and expire 10 years from the date of grant. The following table summarizes the Company’s stock option activity and related information for the 2011 Plan, the 2000 Plan and Directors Plan for the years ended December 31: Options Weighted Weighted Average Aggregate Outstanding at December 31, 2018 466,677 $ 61.04 5.7 $ 4 Granted 134,450 $ 70.44 $ 1 Exercised (4,868) $ 22.45 — Canceled (8,235) $ 73.00 — Outstanding at December 31, 2019 588,024 $ 63.36 5.7 $ 9 Granted 136,506 $ 77.75 — Exercised (86,145) $ 35.47 — Canceled (85,716) $ 73.73 — Outstanding at December 31, 2020 552,669 $ 69.82 6.1 $ 4 Granted 126,794 $ 81.21 — Exercised (113,728) $ 50.38 — Canceled (33,820) $ 73.53 — Outstanding at December 31, 2021 531,915 $ 75.40 6.5 $ 9 Exercisable at December 31, 2021 308,591 $ 73.39 6.1 $ 6 Options outstanding at December 31, 2021 were as follows: Range of exercise prices Number of Weighted Average Exercise Price of Options Outstanding Weighted Number of Weighted Average 35.00 - 50.00 35,002 $ 47.80 1.1 35,002 $ 47.80 50.00 - 65.00 40,317 $ 59.09 4.6 37,217 $ 60.52 65.00 - 80.00 248,483 $ 74.43 6.9 143,862 $ 73.37 Over 80.00 208,113 $ 84.36 7.3 92,510 $ 88.28 531,915 $ 75.40 6.5 308,591 $ 73.39 The fair value of each option grant is estimated on the date of grant using the Black-Scholes option-pricing model with the following weighted-average assumptions: For the year ended 2021 2020 2019 Dividend yield 0.60 % 0.60 % 0.66 % Risk-free interest rate 0.8 % 1.5 % 2.6 % Stock price volatility 36.1 % 28.1 % 25.8 % Expected life (years) 5.0 5.0 5.0 Weighted average fair value of options granted during the year $ 25.01 $ 21.05 $ 19.54 The dividend yield is based on the Company’s dividend rate and the current market price of the underlying common stock at the date of grant. Expected life in years is determined from historical stock option exercise data. Expected volatility is based on the historical volatility of the Company’s stock. The risk-free interest rate is based on the 7 years U.S. Treasury bond rates for the expected life of the option. Restricted Stock and Incentive Stock Beginning in 2006 the Company adopted a restricted stock program. As provided for under the 2011 and 2000 Plans, eligible employees are granted restricted stock that generally vests over three years from the date of grant. Under the Directors Plan, restricted stock units vest one year from the date of grant. In addition, the Company has issued incentive stock units to eligible employees that vest upon attainment of certain cumulative three-year performance goals. Based on the Company’s performance for each three year period then ended, the incentive stock units can vest and be awarded ranging from 0% to 200% of the initial incentive stock units granted. The incentive stock units included in the table below represent the number of shares that are expected to vest based on the Company’s estimate for meeting those established performance targets. As of December 31, 2021, the Company estimates that it will achieve 33%, 121% and 117% for the incentive stock awards expected to vest based on performance for the three year periods ending December 31, 2021, 2022, and 2023, respectively, and has recorded incentive compensation expense accordingly. If estimates of the number of these stock units expected to vest changes in a future accounting period, cumulative compensation expense could increase or decrease and will be recognized in the current period for the elapsed portion of the vesting period and would change future expense for the remaining vesting period. Compensation expense for the non-vested restricted stock and incentive stock units is based on the closing price of the Company’s common stock on the date of grant and recognized over the applicable vesting period. The following table summarizes the restricted stock activity and related information for the 2011 Plan, the 2000 Plan, and Directors Plan, and incentive stock units activity and related information for the 2011 Plan and the 2000 Plan with related information for the years ended December 31: Restricted Incentive Weighted Outstanding at December 31, 2018 445,089 415,242 $ 75.51 Granted 608,813 259,950 $ 70.61 Vested (235,406) (119,835) $ 71.65 Adjustment for incentive stock awards expected to vest — 80,403 $ 78.04 Canceled (27,465) (63,758) $ 74.04 Outstanding at December 31, 2019 791,031 572,002 $ 73.64 Granted 283,587 250,197 $ 75.68 Vested (345,859) (147,069) $ 77.45 Adjustment for incentive stock awards expected to vest — (331,004) $ 71.32 Canceled (72,753) (73,481) $ 72.83 Outstanding at December 31, 2020 656,006 270,645 $ 73.80 Granted 235,902 241,467 $ 81.64 Vested (350,955) (37,672) $ 71.82 Adjustment for incentive stock awards expected to vest — 180,767 $ 76.26 Canceled (33,255) (48,106) $ 76.24 Outstanding at December 31, 2021 507,698 607,101 $ 78.06

ACCUMULATED OTHER COMPREHENSIVE

ACCUMULATED OTHER COMPREHENSIVE LOSS	12 Months Ended
	Dec. 31, 2021
Equity [Abstract]
ACCUMULATED OTHER COMPREHENSIVE LOSS	ACCUMULATED OTHER COMPREHENSIVE LOSS Comprehensive income comprises both net income and the change in equity from transactions and other events and circumstances from non-owner sources. The changes in Accumulated other comprehensive loss by component, net of tax, for the years ended December 31, 2021, 2020, and 2019 are as follows: In millions Foreign currency translation Derivative contracts Pension and post retirement benefit plans Total Balance at December 31, 2018 $ (202) $ — $ (55) $ (257) Other comprehensive loss before reclassifications (106) (3) (19) (128) Amounts reclassified from Accumulated other comprehensive loss — — 2 2 Other comprehensive loss, net (106) (3) (17) (126) Balance at December 31, 2019 $ (308) $ (3) $ (72) $ (383) Other comprehensive income (loss) before reclassifications 48 6 (13) 41 Amounts reclassified from Accumulated other comprehensive loss — — 3 3 Other comprehensive income (loss), net 48 6 (10) 44 Balance at December 31, 2020 $ (260) $ 3 $ (82) $ (339) Other comprehensive (loss) income before reclassifications (136) (8) 13 (131) Amounts reclassified from Accumulated other comprehensive loss — — 4 4 Other comprehensive (loss) income, net (136) (8) 17 (127) Balance at December 31, 2021 $ (396) $ (5) $ (65) $ (466) Amounts reclassified from Accumulated other comprehensive loss are recognized in "Other income, net" with the tax impact recognized in "Income tax expense" on the Consolidated Statements of Income.

LEASES

LEASES	12 Months Ended
	Dec. 31, 2021
Leases [Abstract]
LEASES	LEASES The Company leases certain, property, buildings and equipment. For leases with terms greater than 12 months, the Company records the related asset and obligation at the present value of lease payments. Many of the Company's leases include rental escalation clauses, renewal options, and/or termination options that are factored into our determination of lease payments when appropriate. The Company does not separate lease and non-lease components. Operating lease expense for the years ended December 31, 2021, 2020, and 2019 were $59 million, $57 million, and $54 million, respectively. New operating leases of $80 million and $68 million were added during the years ended December 31, 2021 and 2020, respectively. Wabtec does not have material financing leases, short-term or variable leases or sublease income. As most of the Company's leases do not provide a readily stated discount rate, the Company must estimate the rate to discount lease payments using its incremental borrowing rate. The Company has established discount rates by geographic region ranging from 1% to 9%. Scheduled payments of Operating lease liabilities are as follows: In millions Operating Leases 2022 $ 60 2023 52 2024 47 2025 40 2026 33 Thereafter 113 Total lease payments 345 Less: Present value discount (27) Present value lease liabilities $ 318 The following table summarizes the remaining lease term and discount rate assumptions used to develop the present value of lease liabilities: December 31, 2021 December 31, 2020 Weighted-average remaining lease term (years) Operating leases 8.2 7.4 Weighted-average discount rate Operating leases 2.3 % 2.7 %

WARRANTIES

WARRANTIES	12 Months Ended
	Dec. 31, 2021
Product Warranties Disclosures [Abstract]
WARRANTIES	WARRANTIES The following table reconciles the changes in the Company’s product warranty reserve as follows: In millions 2021 2020 Balance at beginning of year $ 279 $ 268 Acquisitions 2 4 Warranty expense 116 130 Warranty claim payments (124) (131) Foreign currency impact (14) 8 Balance at end of year $ 259 $ 279

FAIR VALUE MEASUREMENT AND DERI

FAIR VALUE MEASUREMENT AND DERIVATIVE INSTRUMENTS	12 Months Ended
	Dec. 31, 2021
Fair Value Disclosures [Abstract]
FAIR VALUE MEASUREMENT AND DERIVATIVE INSTRUMENTS	FAIR VALUE MEASUREMENT AND DERIVATIVE 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 Company’s cash and cash equivalents are highly liquid investments purchased with an original maturity of three months or less and are considered Level 1 on the fair value valuation hierarchy. The fair value of cash and cash equivalents approximated the carrying value at December 31, 2021 and December 31, 2020. The Company’s defined benefit pension plan assets consist primarily of equity security funds, debt security funds, insurance contracts, and temporary cash and cash equivalent investments. These investments are comprised of a number of investment funds that invest in a diverse portfolio of assets including equity securities, corporate and governmental bonds, and money markets. Trusts are valued at the net asset value (“NAV”) as determined by their custodian. NAV represents the accumulation of the unadjusted quoted close prices on the reporting date for the underlying investments divided by the total shares outstanding at the reporting dates (see Note 10). The Senior Notes are considered Level 2 based on the fair value valuation hierarchy. Contingent consideration related to the GE Transportation acquisition is considered Level 3 based on the fair value valuation hierarchy. At December 31, 2021 and 2020, $110 million and $130 million, respectively, were classified as "Other accrued liabilities" on the Company's Consolidated Balance Sheets and $141 million and $218 million, respectively, were included within long-term liabilities shown as "Contingent consideration" on the Company's Consolidated Balance Sheets. The fair value approximates the carrying value at December 31, 2021 and 2020. Hedging Activities In the normal course of business, the Company is exposed to market risks related to interest rates, commodity prices and foreign currency exchange rate fluctuations, which may adversely affect our operating results and financial position. At times, we limit these risks through the use of derivatives such as cross-currency swaps, foreign currency forward contracts, interest rate swaps, commodity swaps and options. These hedging 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. In accordance with our policy, derivatives are only used for hedging purposes. We do not use derivatives for trading or speculative purposes. Foreign Currency Exchange Risk The Company uses forward contracts to hedge forecasted foreign currency denominated sales of finished goods and future settlement of foreign currency denominated assets and liabilities. Derivatives used to hedge firm commitments relevant to sales and purchases and forecasted transactions to be realized with high probability that meet the criteria for hedge accounting are designated as cash flow hedges. The effective portion of gains and losses is deferred as a component of Accumulated other comprehensive loss and is recognized in earnings at the time the hedged item affects earnings, in the same line item as the underlying hedged item. For the years ended December 31, 2021, 2020 and 2019, the amounts reclassified into income were not material. The Company has also established balance sheet risk management and net investment hedging programs to protect its balance sheet against foreign currency exchange rate volatility. We conduct our business worldwide in U.S. dollars and the functional currencies of our foreign subsidiaries, including euro, Indian rupee, British pound sterling, Australian dollars and several other foreign currencies. Changes in these foreign currency exchange rates could have a material adverse impact on our financial results that are reported in U.S. dollars. We are also exposed to foreign currency exchange rate risk related to our foreign subsidiaries, including intercompany loans denominated in non-functional currencies. We hedge these exposures using foreign currency swap contracts and cross-currency swaps to offset the potential income statement effects on intercompany loans denominated in non-functional currencies. These programs reduce but do not eliminate foreign currency exchange rate risk entirely. The Company enters into certain derivative contracts in accordance with its risk management strategy that do not meet the criteria for hedge accounting, but which have the impact of largely mitigating foreign currency exposure. These foreign exchange contracts are accounted for on a full mark to market basis through earnings, with gains and losses recorded as a component of Other income, net. The net (loss) gain related to these contracts were $(5), $(1) and $2 million for the years ended December 31, 2021, 2020 and 2019, respectively. These contracts typically mature within one year. The following table summarizes the assets, liabilities, gross notional amounts, fair values, and fair value hierarchy classification of the designated and non-designated hedges discussed in the above sections as of December 31, 2021, which are included in other current assets and liabilities on the Consolidated Balance Sheets: Fair Value Gross Notional Amount In millions Level Designated Non-Designated Designated Non-Designated Foreign Exchange Contracts Other current assets 2 $ 8 $ — $ 627 $ — Other current liabilities 2 (1) (2) 613 289 Cross-currency Swaps Other current assets 2 — — 14 — Total $ 7 $ (2) $ 1,254 $ 289 The following table summarizes the assets, liabilities, gross notional amounts, fair values, and fair value hierarchy classification of the designated and non-designated hedges discussed in the above sections as of December 31, 2020, which are included in other current assets and liabilities on the Consolidated Balance Sheets: Fair Value Gross Notional Amount In millions Level Designated Non-Designated Designated Non-Designated Foreign Exchange Contracts Other current assets 2 $ 9 $ 1 $ 794 $ 1 Other current liabilities 2 (4) (2) 928 320 Cross-currency Swaps Other current liabilities 2 (26) — 613 — Total $ (21) $ (1) $ 2,335 $ 321 Interest Rate Risk The Company may use interest rate swap contracts on certain investing and borrowing transactions to manage its net exposure to interest rate changes and to reduce its overall cost of borrowing. The Company does not use leveraged swaps and, in general, does not leverage any of its investment activities that would put principal capital at risk. For the years ended December 31, 2021, 2020 and 2019, the amounts reclassified into income were not material. Commodity Price Risk

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	12 Months Ended
	Dec. 31, 2021
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	COMMITMENTS AND CONTINGENCIES The Company is subject to a variety of environmental laws and regulations governing discharges to air and water, the handling, storage and disposal of hazardous or solid waste materials and the remediation of contamination associated with releases of hazardous substances. The Company believes its operations currently comply in all material respects with all of the various environmental laws and regulations applicable to our business; however, there can be no assurance that environmental requirements will not change in the future or that we will not incur significant costs to comply with such requirements. 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. The vast majority of the claims are submitted to insurance carriers for defense and indemnity, or to non-affiliated companies that retain the liabilities for the asbestos-containing products at issue. We cannot, however, assure that all of these claims will be fully covered by insurance, or that the indemnitors or insurers will remain financially viable. Our ultimate legal and financial liability with respect to these claims, as is the case with other pending litigation, cannot be estimated. A limited number of claims are not covered by insurance, nor are they subject to indemnity from non-affiliated parties. Management believes that the costs of the Company’s asbestos-related cases will not be material to the Company’s overall financial position, results of operations and cash flows. Xorail, Inc., a wholly owned subsidiary of the Company (“Xorail”), has received notices from Denver Transit Constructors (“DTC”) alleging breach of contract related to the operating of constant warning wireless crossings, and late delivery of the Train Management & Dispatch System (“TMDS”) for the Denver Eagle P3 Project, which is owned by the Denver Regional Transit District ("RTD"). No damages have been asserted for the alleged late delivery of the TMDS, and no formal claim has been filed; Xorail has successfully completed a remediation plan concerning the TMDS issues. With regard to the wireless crossing issue, as of September 8, 2017, DTC alleged that total damages were $37 million through July 31, 2017 and are continuing to accumulate. The majority of the damages stems from a delay in approval of the wireless crossing system by the Federal Railway Administration ("FRA") and the Public Utility Commission ("PUC"), resulting in the use of flaggers at all of the crossings pending approval of the wireless crossing system and certification of the crossings. DTC has alleged that the delay is due to Xorail's failure to achieve constant warning times for the crossings in accordance with the approval requirements imposed by the FRA and PUC. Xorail has denied DTC's assertions, stating that its system satisfied the contractual requirements. Xorail has worked with DTC to modify its system and implement the FRA's and PUC's previously undefined approval requirements; the FRA and PUC have both approved modified wireless crossing system, and as of August 2018, DTC completed the process of certifying the crossings and eliminated the use of flaggers. DTC has not updated its notices against Xorail, nor have they filed any formal claim against Xorail. On September 21, 2018, DTC filed a complaint against RTD in Colorado state court for breach of contract related to non-payments and the costs for the flaggers, asserting a change-in-law arising from the FRA/PUC’s new certification requirements. DTC’s complaint generally supports Xorail’s position and does not name or implicate Xorail. DTC's claim against RTD proceeded to trial on September 21, 2020; the trial has been completed, included post-trial submission. From time to time the Company is involved in litigation relating to claims arising out of its operations in the ordinary course of business. As of the date hereof, the Company is involved in no litigation that the Company believes will have a material adverse effect on its financial condition, results of operations or liquidity.

SEGMENT INFORMATION

SEGMENT INFORMATION	12 Months Ended
	Dec. 31, 2021
Segment Reporting [Abstract]
SEGMENT INFORMATION	SEGMENT INFORMATION The Company has two reportable segments—the Freight Segment and the Transit Segment. The key factors used to identify these reportable segments are the organization and alignment of the Company’s internal operations, the nature of the products and services, and customer type. Initiatives to integrate GE Transportation operations into Wabtec including recent restructuring programs announced in late 2019 resulted in changes to the Company's organizational structure and the financial reporting utilized by the Company's chief operating decision maker to assess performance and allocate resources; as a result, certain asset groups were reorganized from the Freight Segment to the Transit Segment and vice versa. The change in the Company’s reportable segments was effective in the fourth quarter of 2019 and is reflected below. The Company believes these changes better present Management's view of the business. The Company’s business segments are: Freight Segment primarily builds new locomotives, manufactures and services components for new and existing freight cars and locomotives, rebuilds freight locomotives, supplies railway electronics, positive train control equipment, signal design and engineering services, and provides related heat exchange and cooling systems. Customers include large, publicly traded railroads, leasing companies, manufacturers of original equipment such as locomotives and freight cars, and utilities. We refer to sales of both goods, such as spare parts and equipment upgrades, and related services, such as monitoring, maintenance and repairs, as sales in our Services product line. Transit Segment primarily manufactures and services components for new and existing passenger transit vehicles, typically regional trains, high speed trains, subway cars, light-rail vehicles and buses. It also refurbishes subway cars and provides heating, ventilation, and air conditioning equipment, and doors for buses and subways. Customers include public transit authorities and municipalities, leasing companies, and manufacturers of subway cars and buses around the world. The Company evaluates its business segments’ operating results based on income from operations. Intersegment sales are accounted for at prices that are generally established by reference to similar transactions with unaffiliated customers. Corporate activities include general corporate expenses, elimination of intersegment transactions, interest income and expense and other unallocated charges. Segment financial information for 2021 is as follows: In million Freight Segment Transit Segment Corporate Activities and Elimination Total Sales to external customers $ 5,239 $ 2,583 $ — $ 7,822 Intersegment sales/(elimination) 48 33 (81) — Total sales $ 5,287 $ 2,616 $ (81) $ 7,822 Income (loss) from operations $ 717 $ 238 $ (79) $ 876 Interest expense and other, net — — (139) (139) Income (loss) before income taxes $ 717 $ 238 $ (218) $ 737 Depreciation and amortization $ 405 $ 70 $ 16 $ 491 Capital expenditures $ 79 $ 48 $ 3 $ 130 Segment assets $ 18,291 $ 5,768 $ (5,605) $ 18,454 Segment financial information for 2020 is as follows: In millions Freight Segment Transit Segment Corporate Activities and Elimination Total Sales to external customers $ 5,082 $ 2,474 $ — $ 7,556 Intersegment sales/(elimination) 49 37 (86) — Total sales $ 5,131 $ 2,511 $ (86) $ 7,556 Income (loss) from operations $ 584 $ 230 $ (69) $ 745 Interest expense and other, net — — (188) (188) Income (loss) from operations before income taxes $ 584 $ 230 $ (257) $ 557 Depreciation and amortization $ 393 $ 67 $ 13 $ 473 Capital expenditures $ 70 $ 40 $ 26 $ 136 Segment assets $ 15,393 $ 6,395 $ (3,334) $ 18,454 Segment financial information for 2019 is as follows: In millions Freight Segment Transit Segment Corporate Activities and Elimination Total Sales to external customers $ 5,441 $ 2,759 $ — $ 8,200 Intersegment sales/(elimination) 60 23 (83) — Total sales $ 5,501 $ 2,782 $ (83) $ 8,200 Income (loss) from operations $ 643 $ 214 $ (194) $ 663 Interest expense and other, net — — (216) (216) Income (loss) before income taxes $ 643 $ 214 $ (410) $ 447 Depreciation and amortization $ 330 $ 62 $ 9 $ 401 Capital expenditures $ 105 $ 64 $ 17 $ 186 The following geographic area data as of and for the years ended December 31, 2021, 2020 and 2019, respectively, includes net sales based on product shipment destination and long-lived assets, which consist of plant, property and equipment, net of depreciation, resident in their respective countries: Net Sales Long-Lived Assets In millions 2021 2020 2019 2021 2020 United States $ 3,321 $ 3,161 $ 3,381 $ 983 $ 1,039 Canada 462 372 733 6 9 Mexico 220 187 357 22 23 North America 4,003 3,720 4,471 1,011 1,071 South America 301 217 218 32 32 United Kingdom 300 314 376 45 51 Germany 383 351 340 70 82 France 286 252 294 54 59 Italy 196 172 206 29 31 Switzerland 88 83 89 2 2 Other Europe 427 405 387 55 60 Europe 1,680 1,577 1,692 255 285 India 531 441 504 151 164 Australia / New Zealand 386 366 301 9 12 China 228 225 290 32 30 Other Asia / Middle East 177 199 216 — 1 Egypt 32 360 228 — — Other Africa 72 138 105 4 4 Russia / CIS 412 313 175 3 2 Total $ 7,822 $ 7,556 $ 8,200 $ 1,497 $ 1,601 Net sales to external customers by product line are as follows: In millions 2021 2020 2019 Freight Segment: Services $ 2,430 $ 2,068 $ 1,991 Equipment 1,302 1,531 1,700 Components 867 819 1,073 Digital Electronics 640 664 677 Total Freight Segment sales $ 5,239 $ 5,082 $ 5,441 Transit Segment: Original Equipment Manufacturer 1,193 1,139 1,287 Aftermarket 1,390 1,335 1,472 Total Transit Segment sales $ 2,583 $ 2,474 $ 2,759

OTHER INCOME, NET

OTHER INCOME, NET	12 Months Ended
	Dec. 31, 2021
Other Income and Expenses [Abstract]
OTHER INCOME, NET	OTHER INCOME, NET The components of Other income, net are as follows: For the year ended December 31, In millions 2021 2020 2019 Foreign currency gain (loss) $ 8 $ (8) $ (14) Equity income 20 10 8 Expected return on pension assets/amortization 9 10 10 Other miscellaneous income (expense) 1 (1) (1) Total Other income, net $ 38 $ 11 $ 3

SCHEDULE II - VALUATION AND QUA

SCHEDULE II - VALUATION AND QUALIFYING ACCOUNTS	12 Months Ended
	Dec. 31, 2021
SEC Schedule, 12-09, Valuation and Qualifying Accounts [Abstract]
VALUATION AND QUALIFYING ACCOUNTS	SCHEDULE II WESTINGHOUSE AIR BRAKE TECHNOLOGIES CORPORATION VALUATION AND QUALIFYING ACCOUNTS For each of the three years ended December 31 In millions Balance at Charged/ Charged/ (credited) to Deductions Balance 2021 Allowance for doubtful accounts $ 37 $ 3 $ (1) $ 7 $ 32 Valuation allowance-taxes $ 42 $ 22 $ — $ — $ 64 2020 Allowance for doubtful accounts $ 20 $ 18 $ — $ 1 $ 37 Valuation allowance-taxes $ 58 $ (16) $ — $ — $ 42 2019 Allowance for doubtful accounts $ 17 $ 7 $ — $ 4 $ 20 Valuation allowance-taxes $ 42 $ 16 $ — $ — $ 58 (1) Reserves of acquired/(sold) companies; valuation allowances for state and foreign deferred tax assets; impact of fluctuations in foreign currency exchange rates. (2) Actual disbursements and/or charges.

SUMMARY OF SIGNIFICANT ACCOUN_2

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	12 Months Ended
	Dec. 31, 2021
Accounting Policies [Abstract]
Principles of Consolidation	Principles of Consolidation The consolidated financial statements include the accounts of the Company and all subsidiaries that it controls. For consolidated subsidiaries in which the Company's ownership is less than 100%, the outside shareholders' interests are shown as noncontrolling interests. These statements have been prepared in accordance with U.S. generally accepted accounting principles. Sales between subsidiaries are billed at prices consistent with sales to third parties and are eliminated in consolidation.
Cash Equivalents	Cash Equivalents Cash equivalents are highly liquid investments purchased with an original maturity of three months or less.
Allowance for Doubtful Accounts	Allowance for Doubtful Accounts The allowance for doubtful accounts receivable reflects our best estimate of expected losses inherent in our receivable portfolio determined on the basis of historical experience, relevant credit forecast information, changes to customer's solvency and other currently available evidence.
Inventories	Inventories Inventories are stated at the lower of cost or net realizable value. Cost is determined under the first-in, first-out (FIFO) method. Inventory costs include material, labor and overhead.
Property, Plant and Equipment	Property, Plant and Equipment Property, plant and equipment additions are stated at cost. Expenditures for renewals and improvements are capitalized. Expenditures for ordinary maintenance and repairs are expensed as incurred. The Company computes book depreciation principally on the straight-line method. Accelerated depreciation methods are utilized for income tax purposes.
Leasing Arrangements	Leasing Arrangements The Company conducts a portion of its operations from leased facilities and finances certain equipment purchases through lease agreements. In those cases in which the lease term approximates the useful life of the leased asset or the lease meets certain other prerequisites, the leasing arrangement is classified as a financing lease. The remaining arrangements are treated as operating leases. Right-of-use lease assets are classified as long-term assets under the caption "Other noncurrent assets" and lease liabilities are classified under the captions "Other accrued liabilities" and "Other long-term liabilities" on the Consolidated Balance Sheets.
Goodwill and Intangible Assets	Goodwill and Intangible Assets Goodwill and other intangible assets with indefinite lives are not amortized. Other intangibles (with definite lives) are amortized on a straight-line basis over their estimated economic lives. Amortizable intangible assets are reviewed for impairment when indicators of impairment are present. The Company tests goodwill and indefinite-lived intangible assets for impairment at the reporting unit level and at least annually. The Company performs its annual impairment test during the fourth quarter after the annual forecasting process is completed, and also tests for impairment whenever events or changes in circumstances indicate that the carrying value may not be recoverable. Periodically,
Equity Method Investments	Equity Method Investments The Company invests in privately-held companies which are accounted for using the equity method. The equity method is applied in situations where the Company has the ability to exercise significant influence, but not control, over the investee. Equity method investments are classified as other assets under the caption "Other noncurrent assets" on the Consolidated Balance Sheets
Depreciation Expense	Depreciation Expense Depreciation of property, plant and equipment related to the manufacturing of products or services provided is included in Cost of goods or Cost of services. Depreciation of other property, plant and equipment that is not attributable to the manufacturing of products or services provided is included in Selling, general and administrative expenses or Engineering expense to the extent the property, plant, and equipment is used for research and development purposes.
Warranty Costs	Warranty Costs Warranty costs are accrued based on Management’s estimates of repair or upgrade costs per unit and historical experience.
Income Taxes	Income Taxes Income taxes are accounted for under the liability method. Deferred tax assets and liabilities are determined based on differences between financial reporting and tax basis of assets and liabilities and are measured using the enacted tax rates and laws. The provision for income taxes includes federal, state and foreign income taxes.
Stock-Based Compensation	Stock-Based Compensation The Company recognizes compensation expense for stock-based compensation based on the grant date fair value amortized ratably over the requisite service period following the date of grant.
Financial Derivatives and Hedging Activities	Financial Derivatives and Hedging Activities In the normal course of business, the Company is exposed to interest rate, commodity price and foreign currency exchange rate fluctuations. At times, the Company limits these risks through the use of derivatives such as cross-currency swaps, foreign currency forward contracts, interest rate swaps, commodity swaps and options. In accordance with the Company's policy, derivatives are only used for hedging purposes. The Company does not use derivatives for trading or speculative purposes. Foreign currency forward contracts are agreements with a counterparty to exchange two distinct currencies at a set exchange rate for delivery on a set date at some point in the future. There is no exchange of funds until the delivery date. At the delivery date, the Company can either take delivery of the currency or settle on a net basis. For further information regarding the foreign currency forward contracts see Note 17.
Foreign Currency Translation	Foreign Currency Translation Certain of our international operations have determined that the local currency is the functional currency whereas others have determined the U.S. dollar is their functional currency. Assets and liabilities of foreign subsidiaries where the functional currency is the local currency are translated at the rate of exchange in effect on the balance sheet date while income and expenses are translated at the average rates of exchange prevailing during the period. Foreign currency gains and losses resulting from transactions and the translation of financial statements are recorded in the Company’s consolidated financial statements based upon the provisions of ASC 830 “Foreign Currency Matters.” The effects of currency exchange rate changes on intercompany transactions and balances of a long-term investment nature are accumulated and carried as a component of Accumulated other comprehensive loss. The effects of currency exchange rate changes on intercompany transactions that are denominated in a currency other than an entity’s functional currency are charged or credited to earnings.
Noncontrolling Interests	Noncontrolling Interests In accordance with ASC 810, the Company has classified noncontrolling interests as equity on our consolidated balance sheets as of December 31, 2021 and 2020.
Revenue Recognition and Shipping and Handling Fees and Costs	Revenue Recognition The Company accounts for Revenue under ASC 606 Revenue from Contracts with Customers . This guidance provides a five-step analysis of transactions to determine when and how revenue is recognized and requires entities to recognize revenue at an amount that reflects the consideration to which the Company expects to be entitled in exchange for transferring goods or services to a customer. A majority of the Company’s revenues are derived from performance obligations that are satisfied at a point in time when control passes to the customer which is generally at the time of shipment in accordance with agreed upon delivery terms. The remaining revenues are earned over time. All fees billed to the customer for shipping and handling are classified as a component of Net sales. All costs associated with shipping and handling are classified as a component of Cost of sales. The Company also has long-term customer agreements involving the design and production of highly engineered products that require revenue to be recognized over time because these products have no alternative use without significant economic loss, and the agreements contain an enforceable right to payment including a reasonable profit margin from the customer in the event of contract termination. Additionally, the Company has customer agreements involving the creation or enhancement of an asset that the customer controls which also require revenue to be recognized over time. Generally, the Company uses an input method for determining the amount of revenue, cost and gross margin to recognize over time for these customer agreements. The input methods used for these agreements include costs of material and labor, both of which give an accurate representation of the progress made toward complete satisfaction of a particular performance obligation. Contract revenues and cost estimates are reviewed and revised periodically throughout the year and adjustments are reflected in the accounting period as such amounts are determined. Additional information with respect to contract assets and liabilities is included in Note 8. Due to the nature of work required to be performed on the Company’s long-term projects, the estimation of total revenue and cost at completion is subject to many variables and requires significant judgment. Contract estimates related to long-term projects are based on various assumptions to project the outcome of future events that could span several years. These assumptions include cost of materials; labor availability and productivity; complexity of the work to be performed; and the performance of suppliers, customers and subcontractors that may be associated with the contract. We have a disciplined process where management reviews the progress of long term-projects periodically throughout the year. As part of this process, management reviews information including key contract matters, progress towards completion, identified risks and opportunities and any other information that could impact the Company’s estimates of revenue and costs. After completing this analysis, any adjustments to net sales, cost of goods sold, and the related impact to operating income are recognized as necessary in the period they become known. Generally, the Company’s revenue contains a single performance obligation for each distinct good or service; however, a single contract may have multiple performance obligations comprising multiple promises to customers. When there are multiple performance obligations, revenue is allocated based on the relative stand-alone selling price. Pricing is defined in our contracts on a line item basis and includes an estimate of variable consideration when required by the terms of the individual customer contract. Types of variable consideration the Company typically has include volume discounts, prompt payment discounts, price escalation clauses, liquidating damages, and performance bonuses. Sales returns and allowances are also estimated and recognized in the same period the related revenue is recognized, based upon the Company’s experience and future expectations.
Revolving Receivables Program	Revolving Receivables Program The bankruptcy remote subsidiary is a separate legal entity with its own creditors, and its assets are not available to pay creditors of the Company or any other affiliates of the Company.As customers pay their balances, we transfer additional receivables into the program, resulting in our gross receivables sold exceeding net cash flow impacts (e.g., collect and reinvest). The transfers are recorded at the fair value of the proceeds received and obligations assumed less derecognized receivables. No obligation was recorded at December 31, 2021 or 2020 as the estimated expected credit losses on receivables sold is insignificant. Our maximum exposure to loss related to these receivables transferred is limited to the amount outstanding. The Company has agreed to guarantee the performance of the Originators respective obligations under the revolving agreement. None of the Company (except for the bankruptcy-remote consolidated subsidiary referenced above) nor the Originators guarantees the collectability of the receivables under the revolving agreements.
Pre-Production Costs	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.
Preferred Stock	Preferred Stock The Company’s authorized capital stock includes 1,000,000 shares of preferred stock. The Board of Directors has the authority to issue the preferred stock and to fix the designations, powers, preferences and rights of the shares
Significant Customers and Concentrations of Credit Risk	Significant Customers and Concentrations of Credit Risk The Company’s trade receivables are primarily from rail and transit industry original equipment manufacturers, Class I railroads, railroad carriers and commercial companies that utilize rail cars in their operations, such as utility and chemical companies. No one customer accounted for more than 10% of the Company’s consolidated net sales in 2021, 2020 or 2019.
Reclassifications	Reclassifications Certain prior year amounts have been reclassified, where necessary, to conform to the current year presentation.
Use of Estimates	Use of Estimates The preparation of financial statements in conformity with generally accepted accounting principles in the United States requires the Company to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements and reported amounts of revenues and expenses during the reporting period. Actual amounts could differ materially from the estimates. On an ongoing basis, Management reviews its estimates based on currently available information. Changes in facts and circumstances may result in revised estimates.
Accounting Standards Adopted and Issued in 2021	Accounting Standards Adopted in 2021 In December 2019, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") 2019-12, Income Taxes: Simplifying the Accounting for Income Taxes . The amendments in this update simplify the accounting for certain income tax transactions by removing specific exceptions to the general principles in Accounting Standards Codification ("ASC") 740, "Income Taxes." This guidance was effective for fiscal years beginning after December 15, 2020 with early adoption permitted. The adoption of this standard did not have a material impact on the Company's consolidated financial statements. Accounting Standards Issued in 2021 In October 2021, the FASB issued ASU 2021-08, Business Combinations (Topic 805): Accounting for Contract Assets and Contract Liabilities from Contracts with Customers . The amendments in this update provide specific guidance on how to recognize and measure acquired contract assets and contract liabilities from revenue contracts in a business combination and address how to determine whether a contract liability is recognized by the acquirer in a business combination. The amendments in this update will be effective for Wabtec on January 1, 2023 and will be applied prospectively to business combinations occurring on or after the effective date.

SUMMARY OF SIGNIFICANT ACCOUN_3

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)	12 Months Ended
	Dec. 31, 2021
Accounting Policies [Abstract]
Summary of Receivables Sold	The following table sets forth a summary of receivables sold: In millions Twelve Months Ended Twelve Months Ended Gross receivables sold/cash proceeds received $ 1,319 $ 852 Collections reinvested under revolving agreement 1,372 779 Net cash proceeds (remitted) received (53) 73

ACQUISITIONS (Tables)

ACQUISITIONS (Tables)	12 Months Ended
	Dec. 31, 2021
Business Combination and Asset Acquisition [Abstract]
Summary of Fair Value of Assets Acquired and Liabilities Assumed	The following table summarizes the preliminary fair value of the Nordco assets acquired and liabilities assumed: In millions Assets acquired Cash and cash equivalents $ 5 Accounts receivable 23 Inventory 34 Other current assets 2 Property, plant and equipment 17 Goodwill 214 Other intangible assets 168 Other noncurrent assets 12 Total assets acquired 475 Liabilities assumed Current liabilities 19 Noncurrent liabilities 46 Total liabilities assumed 65 Net assets acquired $ 410 The following table summarizes the final fair value of the GE Transportation assets acquired and liabilities assumed: In millions Assets acquired Cash and cash equivalents $ 177 Accounts receivable 541 Inventories 1,190 Other current assets 71 Property, plant, and equipment 1,089 Goodwill 5,984 Trade names 55 Customer relationships 550 Intellectual property 1,180 Backlog 1,450 Other noncurrent assets 321 Total assets acquired 12,608 Liabilities assumed Current liabilities 1,594 Contingent consideration 440 Other noncurrent liabilities 667 Total liabilities assumed 2,701 Net assets acquired 9,907 Noncontrolling interest $ 88
Pro Forma Financial Information	The following unaudited pro forma consolidated financial information presents income statement results as if the GE Transportation acquisition had occurred January 1, 2018: In millions, except per share data Twelve Months Ended December 31, 2019 Net sales $ 8,676 Gross profit 2,343 Net income attributable to Wabtec shareholders 277 Diluted earnings per share As Reported $ 1.84 Pro forma $ 1.45

SUPPLEMENTAL CASH FLOW DISCLO_2

SUPPLEMENTAL CASH FLOW DISCLOSURES (Tables)	12 Months Ended
	Dec. 31, 2021
Supplemental Cash Flow Elements [Abstract]
Schedule of Cash Flow Disclosures	Year Ended December 31, 2021 2020 2019 In millions Interest paid during the year $ 164 $ 174 $ 193 Income taxes paid during the year, net of amount refunded $ 123 $ 129 $ 100 Business acquisitions: Fair value of assets acquired $ 507 $ 70 $ 12,613 Liabilities assumed 68 35 2,466 Non-controlling interest (acquired) assumed (1) (6) 31 Stock and cash paid 440 41 10,116 Less: Cash acquired 5 1 180 Stock used for acquisition — — 6,940 Net cash paid $ 435 $ 40 $ 2,996

INVENTORIES (Tables)

INVENTORIES (Tables)	12 Months Ended
	Dec. 31, 2021
Inventory Disclosure [Abstract]
Components of Inventory, Net of Reserves	The components of inventory, net of reserves, were: December 31, In millions 2021 2020 Raw materials $ 757 $ 670 Work-in-progress 316 339 Finished goods 616 633 Total inventories $ 1,689 $ 1,642

PROPERTY, PLANT & EQUIPMENT (Ta

PROPERTY, PLANT & EQUIPMENT (Tables)	12 Months Ended
	Dec. 31, 2021
Property, Plant and Equipment [Abstract]
Major Classes of Depreciable Assets	The major classes of depreciable assets are as follows: December 31, In millions 2021 2020 Machinery and equipment $ 1,433 $ 1,375 Buildings and improvements 785 801 Land and improvements 96 98 Construction in progress 89 99 Property, plant and equipment 2,403 2,373 Less: accumulated depreciation (906) (772) Total $ 1,497 $ 1,601 The estimated useful lives of property, plant and equipment are as follows: Years Land improvements 10 to 20 Building and improvements 20 to 40 Machinery and equipment 3 to 15

INTANGIBLES (Tables)

INTANGIBLES (Tables)	12 Months Ended
	Dec. 31, 2021
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 is as follows: In millions Freight Transit Total Balance at December 31, 2019 $ 6,877 $ 1,484 $ 8,361 Additions 2 — 2 Disposals (6) — (6) Foreign currency impact (1) 129 128 Balance at December 31, 2020 $ 6,872 $ 1,613 $ 8,485 Additions 214 15 229 Foreign currency impact (13) (114) (127) Balance at December 31, 2021 $ 7,073 $ 1,514 $ 8,587
Intangible Assets of the Company, Other Than Goodwill and Trademarks	Intangible assets of the Company, other than goodwill and trade names, consist of the following: December 31, In millions 2021 2020 Intellectual property, patents, and other intangibles, net of accumulated amortization of $334 and $223 $ 977 $ 1,008 Backlog, net of accumulated amortization of $309 and $206 1,114 1,224 Customer relationships, net of accumulated amortization of $331 and $276 979 986 Total $ 3,070 $ 3,218
Estimated Amortization Expense Five Succeeding Years	Estimated amortization expense for the five succeeding years is as follows (in millions): 2022 $ 291 2023 $ 290 2024 $ 281 2025 $ 278 2026 $ 274

CONTRACT ASSETS AND CONTRACT _2

CONTRACT ASSETS AND CONTRACT LIABILITIES (Tables)	12 Months Ended
	Dec. 31, 2021
Revenue from Contract with Customer [Abstract]
Contract with Customer, Asset and Liability	The following table reconciles the changes in the Company’s contract assets and liabilities as follows: Contract Assets In millions 2021 2020 Balance at beginning of year $ 544 $ 623 Acquisitions — 4 Recognized in current year 617 850 Reclassified to accounts receivable (602) (950) Foreign currency impact (14) 17 Balance at end of year $ 545 $ 544 Contract Liabilities In millions 2021 2020 Balance at beginning of year $ 832 $ 800 Acquisitions 2 7 Recognized in current year 740 872 Amounts in beginning balance reclassified to revenue (463) (532) Current year amounts reclassified to revenue (273) (326) Foreign currency impact (14) 11 Balance at end of year $ 824 $ 832

LONG-TERM DEBT (Tables)

LONG-TERM DEBT (Tables)	12 Months Ended
	Dec. 31, 2021
Debt Disclosure [Abstract]
Schedule of Long-Term Debt	Long-term debt consisted of the following: December 31, Effective 2021 2020 In millions Face Book Fair Value 1 Book Fair Value 1 Senior Credit and 364 Day Facility 2 : U.S. dollar-denominated Term Loans 3 — % N/A $ — $ — $ 645 $ 645 Multi-Currency Revolving loan facility 1.5 % N/A — — — — Senior Notes: 4.375% Senior Notes, due 2023 4.5 % $ 250 250 260 249 267 4.15% Senior Notes, due 2024 4.6 % $ 750 747 796 746 817 3.20% Senior Notes, due 2025 3.4 % $ 500 497 523 496 533 3.45% Senior Notes, due 2026 3.5 % $ 750 749 795 749 820 1.25% Senior Notes (EUR), due 2027 1.5 % € 500 560 574 — — 4.70% Senior Notes, due 2028 5.0 % $ 1,250 1,243 1,423 1,242 1,472 Other Borrowings 12 12 112 113 Total 4,058 4,383 4,239 4,667 Less: current portion 2 2 447 447 Long-term portion $ 4,056 $ 4,381 $ 3,792 $ 4,220 1. See Note 17 for information on the fair value measurement of the Company's long-term debt. 2. During the second quarter of 2021, the Company repaid all outstanding term loan borrowings and related interest under the Senior Credit Facility and the 364 Day Facility. 3. U.S. dollar-denominated Term Loans includes the total outstanding balance of term loans denominated in U.S. dollars from the Senior Credit Facility and the 364 Day Facility. Variances between Face Value and Book Value are the result of unamortized discounts and debt issuance fees. The Company borrows and repays against the Multi-Currency Revolving loan facility for added flexibility in liquidity to manage cash during the operating cycle. The proceeds from borrowing and the repayments are included within the Financing Activities section of the Consolidated Statements of Cash Flows. As of December 31, 2021, the annual repayment requirements for debt obligations are as follows: In millions 2022 $ 2 2023 250 2024 762 2025 500 2026 750 Thereafter 1,817 Total $ 4,081
Interest Coverage Ratio & Leverage Ratio	The Company has agreed that, so long as any lender has any commitment under the Senior Credit Facility, any letter of credit is outstanding under the Senior Credit Facility, or any loan or other obligation is outstanding under the Senior Credit Facility, it will maintain the following as of the end of each fiscal quarter or the period of four quarters the ended: Interest Coverage Ratio 1 3.0x Leverage Ratio 2 3.25x 1. The interest coverage ratio is defined as EBITDA (earnings before interest, taxes, depreciation, and amortization), as defined in the Senior Credit Facility, to net interest expense for the four quarters then ended. 2. The leverage ratio is defined as net debt as of the last day of such fiscal quarter to EBITDA, as defined in the Senior Credit Facility for the four quarters then ended.
Schedule of Line of Credit Facilities	The following table presents availability under the Revolving Facilities: (in millions) Revolving Credit Facility Maximum Availability $ 1,200 Letters of Credit Under Credit Agreement (3) Current Availability $ 1,197

EMPLOYEE BENEFIT PLANS (Tables)

EMPLOYEE BENEFIT PLANS (Tables)	12 Months Ended
	Dec. 31, 2021
Retirement Benefits [Abstract]
Obligations and Funded Status	The following tables provide information regarding the Company’s significant defined benefit pension plans summarized by U.S. and international components. Obligations and Funded Status U.S. International In millions 2021 2020 2021 2020 Change in projected benefit obligation Obligation at beginning of year $ (43) $ (41) $ (385) $ (347) Service cost — — (4) (4) Interest cost (1) (1) (4) (6) Employee contributions — — (1) — Plan settlements and amendments — — 1 (2) Benefits paid 3 3 13 14 Actuarial gain (loss) 2 (4) 15 (22) Effect of currency rate changes — — 9 (18) Obligation at end of year $ (39) $ (43) $ (356) $ (385) Change in plan assets Fair value of plan assets at beginning of year $ 36 $ 34 $ 305 $ 270 Actual return on plan assets 2 4 11 25 Employer contributions 5 1 11 10 Employee contributions — — 1 1 Benefits paid (3) (3) (13) (14) Settlements and other — — (3) 2 Effect of currency rate changes — — (5) 11 Fair value of plan assets at end of year $ 40 $ 36 $ 307 $ 305 Funded status Fair value of plan assets $ 40 $ 36 $ 307 $ 305 Benefit obligations (39) (43) (356) (385) Funded status $ 1 $ (7) $ (49) $ (80) Amounts recognized in the statement of financial position consist of: Noncurrent assets $ 1 $ — $ 17 $ 14 Current liabilities — — (2) (3) Noncurrent liabilities — (7) (64) (91) Net amount recognized $ 1 $ (7) $ (49) $ (80) Amounts recognized in Accumulated other comprehensive loss, before tax consist of: Prior service cost — — (1) (1) Net actuarial loss (16) (19) (70) (90) Net amount recognized $ (16) $ (19) $ (71) $ (91)
Schedule of U.S. and International Pension Plans with Accumulated Benefit Obligations and with Projected Benefit Obligations in Excess of Plan Assets	U.S. International In millions 2021 2020 2021 2020 Information for pension plans with accumulated benefit obligations in excess of Plan assets: Projected benefit obligation N/A $ (43) $ (107) $ (316) Accumulated benefit obligation N/A (42) (97) (304) Fair value of plan assets N/A 36 41 222 Information for pension plans with projected benefit obligations in excess of plan assets: Projected benefit obligation N/A $ (43) $ (112) $ (317) Accumulated benefit obligation N/A (42) (101) (305) Fair value of plan assets N/A 36 45 224
Components of Net Periodic Benefit Costs	Components of Net Periodic Benefit Costs U.S. International In millions 2021 2020 2019 2021 2020 2019 Service cost $ — $ — $ — $ 4 $ 4 $ 3 Interest cost 1 1 2 4 6 7 Expected return on plan assets (1) (1) (2) (13) (12) (12) Amortization of net loss 1 1 1 4 3 3 Settlement and curtailment losses recognized — — — 1 — — Net periodic benefit cost $ 1 $ 1 $ 1 $ — $ 1 $ 1
Other Changes in Plan Assets and Benefit Obligations Recognized in Other Comprehensive Income	Other Changes in Plan Assets and Benefit Obligations Recognized in Other Comprehensive Income during 2021 are as follows: In millions U.S. International Net gain arising during the year $ 2 $ 13 Effect of exchange rates and other — 2 Total benefit recognized in Other comprehensive income $ 2 $ 15 Total benefit recognized in Net periodic benefit cost and Other comprehensive income $ 1 $ 15
Weighted Average Assumptions Used to Develop Actuarial Present Value of Projected Benefit Obligation	The weighted average assumptions in the following table represent the rates used to develop the actuarial present value of the projected benefit obligation for the year listed. U.S. International 2021 2020 2019 2021 2020 2019 Discount rate 2.87 % 2.47 % 3.27 % 1.97 % 1.39 % 1.84 % Expected return on plan assets 5.00 % 5.35 % 5.35 % 4.27 % 4.43 % 5.01 % Rate of compensation increase 3.00 % 3.00 % 3.00 % 2.70 % 2.65 % 2.64 %
Pension Plan Assets by Asset Category	Plan assets by asset category at December 31, 2021 and 2020 are as follows: U.S. International In millions 2021 2020 2021 2020 Pension Plan Assets Equity security funds $ 10 $ 19 $ 87 $ 75 Debt security funds 27 16 194 198 Insurance Contracts — — 15 15 Cash and cash equivalents and other 3 1 11 17 Fair value of plan assets $ 40 $ 36 $ 307 $ 305
Schedule of Pension Plan Assets Measured at Fair Value	The following tables summarize our pension plan assets measured at fair value on a recurring basis by fair value hierarchy level (See Note 17): December 31, 2021 In millions NAV Level 1 Level 2 Level 3 Total US: Equity $ — $ 10 $ — $ — $ 10 Debt Securities — 15 12 — 27 Cash and cash equivalents — 3 — — 3 International: Equity 7 20 60 — 87 Debt Securities — 4 190 — 194 Insurance Contracts — — 5 10 15 Cash and cash equivalents and other — 6 5 — 11 Total $ 7 $ 58 $ 272 $ 10 $ 347 December 31, 2020 In millions NAV Level 1 Level 2 Level 3 Total US: Equity $ — $ 19 $ — $ — $ 19 Debt Securities — 6 10 — 16 Cash and cash equivalents — 1 — — 1 International: Equity 6 22 47 — 75 Debt Securities — 3 195 — 198 Insurance Contracts — — 5 10 15 Cash and cash equivalents and other — 9 8 — 17 Total $ 6 $ 60 $ 265 $ 10 $ 341
Benefit Payments Expected to be Paid to Plan Participants	Benefit payments expected to be paid to plan participants are as follows: In millions U.S. International Year ended December 31, 2022 $ 3 $ 14 2023 $ 3 $ 15 2024 $ 3 $ 15 2025 $ 3 $ 16 2026 $ 3 $ 16 2027 through 2031 $ 12 $ 90

INCOME TAXES (Tables)

INCOME TAXES (Tables)	12 Months Ended
	Dec. 31, 2021
Income Tax Disclosure [Abstract]
Components of Income from Operations before Provision for Income Taxes	The components of the income before income taxes for the Company’s domestic and foreign operations for the years ended December 31 are provided below: For the year ended In millions 2021 2020 2019 Domestic $ 253 $ 78 $ 118 Foreign 484 479 329 Income before income taxes $ 737 $ 557 $ 447
Consolidated Provision for Income Taxes	The consolidated provision for income taxes included in the Consolidated Statements of Income consisted of the following: For the year ended In millions 2021 2020 2019 Current tax expense (benefit) Federal $ (81) $ 6 $ 5 State 27 17 1 Foreign 138 93 141 84 116 147 Deferred tax expense (benefit) Federal 87 36 20 State 10 (2) 3 Foreign (9) (5) (50) 88 29 (27) Total provision $ 172 $ 145 $ 120
Reconciliation of Income Tax Rate	A reconciliation of the United States federal statutory income tax rate to the effective income tax rate on operations for the years ended December 31 is provided below: For the year ended In millions 2021 2020 2019 U.S. federal statutory rate 21.0 % 21.0 % 21.0 % State taxes 0.3 2.6 0.8 Foreign 3.3 4.4 (0.4) Research and development credit (0.8) (1.3) (1.7) U.S. net operating loss carryback (3.4) — — Changes in valuation allowance 3.0 (2.0) 3.5 U.S. tax reform provision 0.7 1.3 2.0 Transaction costs related to acquisitions 0.1 — 1.0 Other, net (1.0) — 0.7 Effective rate 23.2 % 26.0 % 26.9 %
Components of Deferred Tax Assets and Liabilities	Components of deferred tax assets and liabilities were as follows: December 31, In millions 2021 2020 Deferred income tax assets: Accrued expenses and reserves $ 44 $ 39 Warranty reserve 53 51 Deferred compensation/employee benefits 62 43 Right-of-use asset 76 70 Pension and postretirement obligations 24 26 Property, plant & equipment — 48 Inventory 46 45 Net operating loss carry forwards 102 83 Other 102 46 Gross deferred income tax assets 509 451 Less: Valuation allowance (64) (42) Total deferred income tax assets 445 409 Deferred income tax liabilities: Property, plant & equipment 85 — Right-of-use liability 78 69 Intangibles 503 444 Total deferred income tax liabilities 666 513 Net deferred income tax liability $ 221 $ 104
Liability for Income Taxes Associated with Uncertain Tax Positions	A reconciliation of the beginning and ending amount of the liability for income taxes associated with unrecognized tax benefits follows: In millions 2021 2020 2019 Gross liability for unrecognized tax benefits at beginning of year $ 16 $ 17 $ 9 Gross increases - unrecognized tax benefits in prior periods 19 4 10 Gross decreases - audit settlement during year (1) (5) — Gross decreases - expiration of audit statute of limitations (2) — (2) Gross liability for unrecognized tax benefits at end of year $ 32 $ 16 $ 17

EARNINGS PER SHARE (Tables)

EARNINGS PER SHARE (Tables)	12 Months Ended
	Dec. 31, 2021
Earnings Per Share [Abstract]
Computation of Earnings Per Share	The computation of earnings per share from operations is as follows: For the Year Ended In millions, except per share data 2021 2020 2019 Numerator Net income attributable to Wabtec common shareholders - basic $ 556 $ 413 $ 325 Add: dividends declared - preferred shares — — 1 Net income attributable to Wabtec common shareholders - diluted $ 556 $ 413 $ 326 Denominator Weighted average shares outstanding - basic 187.7 189.9 170.5 Effect of dilutive securities: Assumed conversion of preferred shares — — 6.4 Assumed conversion of dilutive stock-based compensation plans 0.4 0.5 0.4 Weighted average shares outstanding - diluted 188.1 190.4 177.3 Net income per common share attributable to Wabtec shareholders Basic $ 2.96 $ 2.18 $ 1.91 Diluted $ 2.96 $ 2.17 $ 1.84

STOCK-BASED COMPENSATION PLANS

STOCK-BASED COMPENSATION PLANS (Tables)	12 Months Ended
	Dec. 31, 2021
Share-based Payment Arrangement [Abstract]
Stock Option Activity	The following table summarizes the Company’s stock option activity and related information for the 2011 Plan, the 2000 Plan and Directors Plan for the years ended December 31: Options Weighted Weighted Average Aggregate Outstanding at December 31, 2018 466,677 $ 61.04 5.7 $ 4 Granted 134,450 $ 70.44 $ 1 Exercised (4,868) $ 22.45 — Canceled (8,235) $ 73.00 — Outstanding at December 31, 2019 588,024 $ 63.36 5.7 $ 9 Granted 136,506 $ 77.75 — Exercised (86,145) $ 35.47 — Canceled (85,716) $ 73.73 — Outstanding at December 31, 2020 552,669 $ 69.82 6.1 $ 4 Granted 126,794 $ 81.21 — Exercised (113,728) $ 50.38 — Canceled (33,820) $ 73.53 — Outstanding at December 31, 2021 531,915 $ 75.40 6.5 $ 9 Exercisable at December 31, 2021 308,591 $ 73.39 6.1 $ 6
Stock Options Outstanding	Options outstanding at December 31, 2021 were as follows: Range of exercise prices Number of Weighted Average Exercise Price of Options Outstanding Weighted Number of Weighted Average 35.00 - 50.00 35,002 $ 47.80 1.1 35,002 $ 47.80 50.00 - 65.00 40,317 $ 59.09 4.6 37,217 $ 60.52 65.00 - 80.00 248,483 $ 74.43 6.9 143,862 $ 73.37 Over 80.00 208,113 $ 84.36 7.3 92,510 $ 88.28 531,915 $ 75.40 6.5 308,591 $ 73.39
Share-Based Fair Value of Each Option Grant Weighted-Average Assumptions	The fair value of each option grant is estimated on the date of grant using the Black-Scholes option-pricing model with the following weighted-average assumptions: For the year ended 2021 2020 2019 Dividend yield 0.60 % 0.60 % 0.66 % Risk-free interest rate 0.8 % 1.5 % 2.6 % Stock price volatility 36.1 % 28.1 % 25.8 % Expected life (years) 5.0 5.0 5.0 Weighted average fair value of options granted during the year $ 25.01 $ 21.05 $ 19.54
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 Directors Plan, and incentive stock units activity and related information for the 2011 Plan and the 2000 Plan with related information for the years ended December 31: Restricted Incentive Weighted Outstanding at December 31, 2018 445,089 415,242 $ 75.51 Granted 608,813 259,950 $ 70.61 Vested (235,406) (119,835) $ 71.65 Adjustment for incentive stock awards expected to vest — 80,403 $ 78.04 Canceled (27,465) (63,758) $ 74.04 Outstanding at December 31, 2019 791,031 572,002 $ 73.64 Granted 283,587 250,197 $ 75.68 Vested (345,859) (147,069) $ 77.45 Adjustment for incentive stock awards expected to vest — (331,004) $ 71.32 Canceled (72,753) (73,481) $ 72.83 Outstanding at December 31, 2020 656,006 270,645 $ 73.80 Granted 235,902 241,467 $ 81.64 Vested (350,955) (37,672) $ 71.82 Adjustment for incentive stock awards expected to vest — 180,767 $ 76.26 Canceled (33,255) (48,106) $ 76.24 Outstanding at December 31, 2021 507,698 607,101 $ 78.06

ACCUMULATED OTHER COMPREHENSI_2

ACCUMULATED OTHER COMPREHENSIVE LOSS (Tables)	12 Months Ended
	Dec. 31, 2021
Equity [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 years ended December 31, 2021, 2020, and 2019 are as follows: In millions Foreign currency translation Derivative contracts Pension and post retirement benefit plans Total Balance at December 31, 2018 $ (202) $ — $ (55) $ (257) Other comprehensive loss before reclassifications (106) (3) (19) (128) Amounts reclassified from Accumulated other comprehensive loss — — 2 2 Other comprehensive loss, net (106) (3) (17) (126) Balance at December 31, 2019 $ (308) $ (3) $ (72) $ (383) Other comprehensive income (loss) before reclassifications 48 6 (13) 41 Amounts reclassified from Accumulated other comprehensive loss — — 3 3 Other comprehensive income (loss), net 48 6 (10) 44 Balance at December 31, 2020 $ (260) $ 3 $ (82) $ (339) Other comprehensive (loss) income before reclassifications (136) (8) 13 (131) Amounts reclassified from Accumulated other comprehensive loss — — 4 4 Other comprehensive (loss) income, net (136) (8) 17 (127) Balance at December 31, 2021 $ (396) $ (5) $ (65) $ (466) Amounts reclassified from Accumulated other comprehensive loss are recognized in "Other income, net" with the tax impact recognized in "Income tax expense" on the Consolidated Statements of Income.

LEASES (Tables)

LEASES (Tables)	12 Months Ended
	Dec. 31, 2021
Leases [Abstract]
Maturity of Operating Lease Liabilities	Scheduled payments of Operating lease liabilities are as follows: In millions Operating Leases 2022 $ 60 2023 52 2024 47 2025 40 2026 33 Thereafter 113 Total lease payments 345 Less: Present value discount (27) Present value lease liabilities $ 318
Lease Expense and Lease Term and Discount Rate	The following table summarizes the remaining lease term and discount rate assumptions used to develop the present value of lease liabilities: December 31, 2021 December 31, 2020 Weighted-average remaining lease term (years) Operating leases 8.2 7.4 Weighted-average discount rate Operating leases 2.3 % 2.7 %

WARRANTIES (Tables)

WARRANTIES (Tables)	12 Months Ended
	Dec. 31, 2021
Product Warranties Disclosures [Abstract]
Changes in Product Warranty Reserve	The following table reconciles the changes in the Company’s product warranty reserve as follows: In millions 2021 2020 Balance at beginning of year $ 279 $ 268 Acquisitions 2 4 Warranty expense 116 130 Warranty claim payments (124) (131) Foreign currency impact (14) 8 Balance at end of year $ 259 $ 279

FAIR VALUE MEASUREMENT AND DE_2

FAIR VALUE MEASUREMENT AND DERIVATIVE INSTRUMENTS (Tables)	12 Months Ended
	Dec. 31, 2021
Fair Value Disclosures [Abstract]
Liabilities Carried at Fair Value Measured on Recurring Basis	The following table summarizes the assets, liabilities, gross notional amounts, fair values, and fair value hierarchy classification of the designated and non-designated hedges discussed in the above sections as of December 31, 2021, which are included in other current assets and liabilities on the Consolidated Balance Sheets: Fair Value Gross Notional Amount In millions Level Designated Non-Designated Designated Non-Designated Foreign Exchange Contracts Other current assets 2 $ 8 $ — $ 627 $ — Other current liabilities 2 (1) (2) 613 289 Cross-currency Swaps Other current assets 2 — — 14 — Total $ 7 $ (2) $ 1,254 $ 289 The following table summarizes the assets, liabilities, gross notional amounts, fair values, and fair value hierarchy classification of the designated and non-designated hedges discussed in the above sections as of December 31, 2020, which are included in other current assets and liabilities on the Consolidated Balance Sheets: Fair Value Gross Notional Amount In millions Level Designated Non-Designated Designated Non-Designated Foreign Exchange Contracts Other current assets 2 $ 9 $ 1 $ 794 $ 1 Other current liabilities 2 (4) (2) 928 320 Cross-currency Swaps Other current liabilities 2 (26) — 613 — Total $ (21) $ (1) $ 2,335 $ 321

SEGMENT INFORMATION (Tables)

SEGMENT INFORMATION (Tables)	12 Months Ended
	Dec. 31, 2021
Segment Reporting [Abstract]
Segment Financial Information	Segment financial information for 2021 is as follows: In million Freight Segment Transit Segment Corporate Activities and Elimination Total Sales to external customers $ 5,239 $ 2,583 $ — $ 7,822 Intersegment sales/(elimination) 48 33 (81) — Total sales $ 5,287 $ 2,616 $ (81) $ 7,822 Income (loss) from operations $ 717 $ 238 $ (79) $ 876 Interest expense and other, net — — (139) (139) Income (loss) before income taxes $ 717 $ 238 $ (218) $ 737 Depreciation and amortization $ 405 $ 70 $ 16 $ 491 Capital expenditures $ 79 $ 48 $ 3 $ 130 Segment assets $ 18,291 $ 5,768 $ (5,605) $ 18,454 Segment financial information for 2020 is as follows: In millions Freight Segment Transit Segment Corporate Activities and Elimination Total Sales to external customers $ 5,082 $ 2,474 $ — $ 7,556 Intersegment sales/(elimination) 49 37 (86) — Total sales $ 5,131 $ 2,511 $ (86) $ 7,556 Income (loss) from operations $ 584 $ 230 $ (69) $ 745 Interest expense and other, net — — (188) (188) Income (loss) from operations before income taxes $ 584 $ 230 $ (257) $ 557 Depreciation and amortization $ 393 $ 67 $ 13 $ 473 Capital expenditures $ 70 $ 40 $ 26 $ 136 Segment assets $ 15,393 $ 6,395 $ (3,334) $ 18,454 Segment financial information for 2019 is as follows: In millions Freight Segment Transit Segment Corporate Activities and Elimination Total Sales to external customers $ 5,441 $ 2,759 $ — $ 8,200 Intersegment sales/(elimination) 60 23 (83) — Total sales $ 5,501 $ 2,782 $ (83) $ 8,200 Income (loss) from operations $ 643 $ 214 $ (194) $ 663 Interest expense and other, net — — (216) (216) Income (loss) before income taxes $ 643 $ 214 $ (410) $ 447 Depreciation and amortization $ 330 $ 62 $ 9 $ 401 Capital expenditures $ 105 $ 64 $ 17 $ 186
Geographic Area Data	The following geographic area data as of and for the years ended December 31, 2021, 2020 and 2019, respectively, includes net sales based on product shipment destination and long-lived assets, which consist of plant, property and equipment, net of depreciation, resident in their respective countries: Net Sales Long-Lived Assets In millions 2021 2020 2019 2021 2020 United States $ 3,321 $ 3,161 $ 3,381 $ 983 $ 1,039 Canada 462 372 733 6 9 Mexico 220 187 357 22 23 North America 4,003 3,720 4,471 1,011 1,071 South America 301 217 218 32 32 United Kingdom 300 314 376 45 51 Germany 383 351 340 70 82 France 286 252 294 54 59 Italy 196 172 206 29 31 Switzerland 88 83 89 2 2 Other Europe 427 405 387 55 60 Europe 1,680 1,577 1,692 255 285 India 531 441 504 151 164 Australia / New Zealand 386 366 301 9 12 China 228 225 290 32 30 Other Asia / Middle East 177 199 216 — 1 Egypt 32 360 228 — — Other Africa 72 138 105 4 4 Russia / CIS 412 313 175 3 2 Total $ 7,822 $ 7,556 $ 8,200 $ 1,497 $ 1,601
Sales by Product	Net sales to external customers by product line are as follows: In millions 2021 2020 2019 Freight Segment: Services $ 2,430 $ 2,068 $ 1,991 Equipment 1,302 1,531 1,700 Components 867 819 1,073 Digital Electronics 640 664 677 Total Freight Segment sales $ 5,239 $ 5,082 $ 5,441 Transit Segment: Original Equipment Manufacturer 1,193 1,139 1,287 Aftermarket 1,390 1,335 1,472 Total Transit Segment sales $ 2,583 $ 2,474 $ 2,759

OTHER INCOME (EXPENSE), NET (Ta

OTHER INCOME (EXPENSE), NET (Tables)	12 Months Ended
	Dec. 31, 2021
Other Income and Expenses [Abstract]
Components of Other Income (Expense)	The components of Other income, net are as follows: For the year ended December 31, In millions 2021 2020 2019 Foreign currency gain (loss) $ 8 $ (8) $ (14) Equity income 20 10 8 Expected return on pension assets/amortization 9 10 10 Other miscellaneous income (expense) 1 (1) (1) Total Other income, net $ 38 $ 11 $ 3

BUSINESS - Narrative (Details)

BUSINESS - Narrative (Details)	12 Months Ended
	Dec. 31, 2021country
Product Information [Line Items]
Number of countries company operates (over)	50
Number of countries where product found (more than)	100
Revenue from Contract with Customer Benchmark | Geographic Concentration Risk | Non-US
Product Information [Line Items]
Revenues from customers outside the U.S.	60.00%

SUMMARY OF SIGNIFICANT ACCOUN_4

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Narrative (Details) - USD ($)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019	Mar. 31, 2021	May 31, 2020
Summary Of Significant Accounting Policies [Line Items]
Allowance for doubtful accounts	$ 32,000,000	$ 37,000,000
Equity method investments	96,000,000	100,000,000
Foreign currency gain (loss)	8,000,000	(8,000,000)	$ (14,000,000)
Maximum recurring transfer (up to)				$ 200,000,000	$ 150,000,000
Accounts receivable	1,085,000,000	969,000,000
Deferred pre-production costs	$ 86,000,000	$ 87,000,000
Preferred stock, shares authorized (in shares)	1,000,000
Preferred stock, shares issued (in shares)	0	0
Preferred stock, shares outstanding (in shares)	0
Collateral Pledged
Summary Of Significant Accounting Policies [Line Items]
Accounts receivable	$ 324,000,000	$ 114,000,000

SUMMARY OF SIGNIFICANT ACCOUN_5

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Performance Obligation (Details) $ in Billions	Dec. 31, 2021USD ($)
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation	$ 22
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue expected to be recognized over next 12 months	25.00%
Performance obligation, term	12 months

SUMMARY OF SIGNIFICANT ACCOUN_6

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Summary of Receivables Sold (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Accounting Policies [Abstract]
Gross receivables sold/cash proceeds received	$ 1,319	$ 852
Collections reinvested under revolving agreement	1,372	779
Net cash proceeds (remitted) received	$ (53)	$ 73

ACQUISITIONS - Narrative (Detai

ACQUISITIONS - Narrative (Details) - USD ($) $ / shares in Units, $ in Millions	Mar. 31, 2021	Sep. 12, 2019	Aug. 09, 2019	Feb. 25, 2019	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019	May 06, 2019	Apr. 30, 2019	Feb. 22, 2019
Business Acquisition [Line Items]
Common stock, shares outstanding (in shares)					185,800,000	188,900,000
Preferred stock, shares outstanding (in shares)					0
Stock and cash paid					$ 440	$ 41	$ 10,116
Common stock, shares issued (in shares)					226,900,000	226,900,000
Preferred stock, shares issued (in shares)					0	0
Common Stock
Business Acquisition [Line Items]
Preferred stock, shares outstanding (in shares)								3,515,500
General Electric Company
Business Acquisition [Line Items]
Stock and cash paid				$ 2,885
Common stock, shares issued (in shares)				19,018,207
Preferred stock, shares issued (in shares)				10,000
General Electric Company | General Electric Company
Business Acquisition [Line Items]
Common stock, shares issued (in shares)				46,763,975
Nordco
Business Acquisition [Line Items]
Percentage of voting interests acquired	100.00%
Business combination, consideration transferred	$ 410
GE Transportation
Business Acquisition [Line Items]
Business combination, consideration transferred				$ 10,300
Consideration transferred				2,875
Stock and cash paid				$ 470	$ 99	$ 115
Purchase price per share (in euros per share)										$ 73.36
Change in estimated fair values for assets acquired					$ 3	$ 48	$ 63
GE Transportation | General Electric Company
Business Acquisition [Line Items]
Percentage of outstanding shares transferred				9.90%
GE Transportation | GE and Pre-Merger Holders
Business Acquisition [Line Items]
Percentage of outstanding shares transferred				49.20%
GE Transportation | SpinCo Class B Preferred Stock
Business Acquisition [Line Items]
Stock and cash paid				$ 10
GE Transportation | Convertible Preferred Stock
Business Acquisition [Line Items]
Shares issuable (in shares)				10,000
GE Transportation | Convertible Preferred Stock | General Electric Company
Business Acquisition [Line Items]
Percentage of outstanding shares transferred				15.00%
GE Transportation | General Electric Company | SpinCo Common Stock
Business Acquisition [Line Items]
Common stock, shares outstanding (in shares)				8,700,000,000
GE Transportation | General Electric Company | SpinCo Class A Preferred Stock
Business Acquisition [Line Items]
Preferred stock, shares outstanding (in shares)				15,000
GE Transportation | General Electric Company | SpinCo Class B Preferred Stock
Business Acquisition [Line Items]
Preferred stock, shares outstanding (in shares)				10,000
GE Transportation | General Electric Company | SpinCo Class C Preferred Stock
Business Acquisition [Line Items]
Preferred stock, shares outstanding (in shares)				1
GE Transportation | General Electric Company | Series A Preferred Stock
Business Acquisition [Line Items]
Preferred stock, shares outstanding (in shares)								8,780
GE Transportation | General Electric Company | Common Stock
Business Acquisition [Line Items]
Preferred stock, shares outstanding (in shares)								25,300,000
Number of shares issued in transaction (in shares)		2,048,515	16,969,656
GE Transportation | Pre-merger Wabtec Stockholders
Business Acquisition [Line Items]
Percentage of outstanding shares transferred				50.80%
GE Transportation | Wabtec | SpinCo Class B Preferred Stock
Business Acquisition [Line Items]
Preferred stock, shares outstanding (in shares)				10,000
GET Brazil
Business Acquisition [Line Items]
Noncontrolling interest acquired									$ 56
General Electric Company
Business Acquisition [Line Items]
Noncontrolling interest acquired				$ 88
Other noncurrent liabilities				667
General Electric Company | Customer Contracts
Business Acquisition [Line Items]
Other noncurrent liabilities				$ 525

ACQUISITIONS - Summary of Fair

ACQUISITIONS - Summary of Fair Value of Nordco Assets Acquired and Liabilities Assumed (Details) - USD ($) $ in Millions	Dec. 31, 2021	Mar. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Assets acquired
Goodwill	$ 8,587		$ 8,485	$ 8,361
Nordco
Assets acquired
Cash and cash equivalents		$ 5
Accounts receivable		23
Inventories		34
Other current assets		2
Property, plant, and equipment		17
Goodwill		214
Other intangible assets		168
Other noncurrent assets		12
Total assets acquired		475
Liabilities assumed
Current liabilities		19
Noncurrent liabilities		46
Total liabilities assumed		65
Net assets acquired		$ 410

ACQUISITIONS - Summary of Fai_2

ACQUISITIONS - Summary of Fair Value of GE Transportation Assets Acquired and Liabilities Assumed (Details) - USD ($) $ in Millions	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019	Feb. 25, 2019
Assets acquired
Goodwill	$ 8,587	$ 8,485	$ 8,361
General Electric Company
Assets acquired
Cash and cash equivalents				$ 177
Accounts receivable				541
Inventories				1,190
Other current assets				71
Property, plant, and equipment				1,089
Goodwill				5,984
Other noncurrent assets				321
Total assets acquired				12,608
Liabilities assumed
Current liabilities				1,594
Contingent consideration				440
Other noncurrent liabilities				667
Total liabilities assumed				2,701
Net assets acquired				9,907
Noncontrolling interest				88
General Electric Company | Trade names
Assets acquired
Acquired intangible assets				55
General Electric Company | Customer relationships
Assets acquired
Acquired intangible assets				550
General Electric Company | Intellectual property
Assets acquired
Acquired intangible assets				1,180
General Electric Company | Backlog
Assets acquired
Acquired intangible assets				$ 1,450

ACQUISITIONS - Pro Forma Financ

ACQUISITIONS - Pro Forma Financial Information (Details) - USD ($) $ / shares in Units, $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Business Combination and Asset Acquisition [Abstract]
Net sales			$ 8,676
Gross profit			2,343
Net income attributable to Wabtec shareholders			$ 277
Diluted earnings per share
As Reported (in dollars per share)	$ 2.96	$ 2.17	$ 1.84
Pro forma (in dollars per share)			$ 1.45

SUPPLEMENTAL CASH FLOW DISCLO_3

SUPPLEMENTAL CASH FLOW DISCLOSURES (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Supplemental Cash Flow Elements [Abstract]
Interest paid during the year	$ 164	$ 174	$ 193
Income taxes paid during the year, net of amount refunded	123	129	100
Business acquisitions:
Fair value of assets acquired	507	70	12,613
Liabilities assumed	68	35	2,466
Non-controlling interest (acquired) assumed	(1)	(6)
Non-controlling interest (acquired) assumed			31
Stock and cash paid	440	41	10,116
Less: Cash acquired	5	1	180
Stock used for acquisition	0	0	6,940
Net cash paid	$ 435	$ 40	$ 2,996

INVENTORIES (Details)

INVENTORIES (Details) - USD ($) $ in Millions	Dec. 31, 2021	Dec. 31, 2020
Inventory Disclosure [Abstract]
Raw materials	$ 757	$ 670
Work-in-progress	316	339
Finished goods	616	633
Total inventories	$ 1,689	$ 1,642

PROPERTY, PLANT & EQUIPMENT - M

PROPERTY, PLANT & EQUIPMENT - Major Classes of Depreciable Assets (Details) - USD ($) $ in Millions	Dec. 31, 2021	Dec. 31, 2020
Property, Plant and Equipment [Abstract]
Machinery and equipment	$ 1,433	$ 1,375
Buildings and improvements	785	801
Land and improvements	96	98
Construction in progress	89	99
Property, plant and equipment	2,403	2,373
Less: accumulated depreciation	(906)	(772)
Other intangible assets, net	$ 1,497	$ 1,601

PROPERTY, PLANT & EQUIPMENT - E

PROPERTY, PLANT & EQUIPMENT - Estimated Useful Lives of Property Plant and Equipment (Details)	12 Months Ended
	Dec. 31, 2021
Land improvements | Minimum
Property Plant And Equipment [Line Items]
Estimated useful lives in years	10 years
Land improvements | Maximum
Property Plant And Equipment [Line Items]
Estimated useful lives in years	20 years
Building and improvements | Minimum
Property Plant And Equipment [Line Items]
Estimated useful lives in years	20 years
Building and improvements | Maximum
Property Plant And Equipment [Line Items]
Estimated useful lives in years	40 years
Machinery and equipment | Minimum
Property Plant And Equipment [Line Items]
Estimated useful lives in years	3 years
Machinery and equipment | Maximum
Property Plant And Equipment [Line Items]
Estimated useful lives in years	15 years

PROPERTY, PLANT & EQUIPMENT - N

PROPERTY, PLANT & EQUIPMENT - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Property, Plant and Equipment [Abstract]
Depreciation expense	$ 198	$ 183	$ 158

INTANGIBLES - Narrative (Detail

INTANGIBLES - Narrative (Details) $ in Millions	12 Months Ended
	Dec. 31, 2021USD ($)	Dec. 31, 2020USD ($)	Dec. 31, 2019USD ($)
Intangible Assets Disclosure [Line Items]
Trade names	$ 635	$ 651
Intangible assets, amortization expense	$ 287	$ 282	$ 238
Valuation Technique, Discounted Cash Flow
Intangible Assets Disclosure [Line Items]
Goodwill impairment test, weight of approach	0.75
Valuation, Market Approach
Intangible Assets Disclosure [Line Items]
Goodwill impairment test, weight of approach	0.25
Trade names
Intangible Assets Disclosure [Line Items]
Useful life (in years)	5 years
Backlog
Intangible Assets Disclosure [Line Items]
Intangible assets, weighted average useful life (years)	10 years
Intellectual property
Intangible Assets Disclosure [Line Items]
Intangible assets, weighted average useful life (years)	11 years
Customer relationships
Intangible Assets Disclosure [Line Items]
Intangible assets, weighted average useful life (years)	17 years
Other intangible assets
Intangible Assets Disclosure [Line Items]
Intangible assets, weighted average useful life (years)	9 years

INTANGIBLES - Change in the Car

INTANGIBLES - Change in the Carrying Amount of Goodwill by Segment (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Goodwill [Roll Forward]
Balance beginning of period	$ 8,485	$ 8,361
Additions	229	2
Disposals		(6)
Foreign currency impact	(127)	128
Balance end of period	8,587	8,485
Freight Segment
Goodwill [Roll Forward]
Balance beginning of period	6,872	6,877
Additions	214	2
Disposals		(6)
Foreign currency impact	(13)	(1)
Balance end of period	7,073	6,872
Transit Segment
Goodwill [Roll Forward]
Balance beginning of period	1,613	1,484
Additions	15	0
Disposals		0
Foreign currency impact	(114)	129
Balance end of period	$ 1,514	$ 1,613

INTANGIBLES - Intangible Assets

INTANGIBLES - Intangible Assets Other Than Goodwill and Trademarks (Details) - USD ($) $ in Millions	Dec. 31, 2021	Dec. 31, 2020
Finite Lived Intangible Assets [Line Items]
Intangible assets, net of accumulated amortization	$ 3,070	$ 3,218
Intellectual property, patents, and other intangibles, net of accumulated amortization of $334 and $223
Finite Lived Intangible Assets [Line Items]
Intangible assets, accumulated amortization	334	223
Intangible assets, net of accumulated amortization	977	1,008
Backlog, net of accumulated amortization of $309 and $206
Finite Lived Intangible Assets [Line Items]
Intangible assets, accumulated amortization	309	206
Intangible assets, net of accumulated amortization	1,114	1,224
Customer relationships, net of accumulated amortization of $331 and $276
Finite Lived Intangible Assets [Line Items]
Intangible assets, accumulated amortization	331	276
Intangible assets, net of accumulated amortization	$ 979	$ 986

INTANGIBLES - Estimated Amortiz

INTANGIBLES - Estimated Amortization Expense Five Succeeding Years (Details) $ in Millions	Dec. 31, 2021USD ($)
Goodwill and Intangible Assets Disclosure [Abstract]
2022	$ 291
2023	290
2024	281
2025	278
2026	$ 274

CONTRACT ASSETS AND CONTRACT _3

CONTRACT ASSETS AND CONTRACT LIABILITIES - Narrative (Details) - USD ($) $ in Millions	Dec. 31, 2021	Dec. 31, 2020
Revenue from Contract with Customer [Abstract]
Noncurrent contract assets	$ 153	$ 101
Noncurrent contract liabilities	88	80
Provisions for loss contracts	$ 107	$ 109

CONTRACT ASSETS AND CONTRACT _4

CONTRACT ASSETS AND CONTRACT LIABILITIES - Contract with Customer, Asset and Liability (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Contract Assets
Balance at beginning of year	$ 544	$ 623
Acquisitions	0	4
Recognized in current year	617	850
Reclassified to accounts receivable	(602)	(950)
Foreign currency impact	(14)	17
Balance at end of year	545	544
Contract Liabilities
Balance at beginning of year	832	800
Acquisitions	2	7
Recognized in current year	740	872
Amounts in beginning balance reclassified to revenue	(463)	(532)
Current year amounts reclassified to revenue	(273)	(326)
Foreign currency impact	(14)	11
Balance at end of year	$ 824	$ 832

LONG-TERM DEBT - Schedule of Lo

LONG-TERM DEBT - Schedule of Long-term Debt (Details)	Apr. 10, 2020	Dec. 31, 2021USD ($)	Dec. 31, 2021EUR (€)	Jun. 03, 2021EUR (€)	Dec. 31, 2020USD ($)	Jun. 29, 2020USD ($)
Debt Instrument [Line Items]
Total		$ 4,058,000,000			$ 4,239,000,000
Current portion of long-term debt		2,000,000			447,000,000
Long-term debt		4,056,000,000			3,792,000,000
Fair Value
Debt Instrument [Line Items]
Total		4,383,000,000			4,667,000,000
Current portion of long-term debt		2,000,000			447,000,000
Long-term debt		$ 4,381,000,000			4,220,000,000
Line of Credit
Debt Instrument [Line Items]
Debt instrument, term	364 days	364 days
Other Borrowings
Debt Instrument [Line Items]
Total		$ 12,000,000			112,000,000
Other Borrowings | Fair Value
Debt Instrument [Line Items]
Total		$ 12,000,000			113,000,000
U.S. dollar-denominated Term Loans | Line of Credit | Revolving Credit Facility
Debt Instrument [Line Items]
Effective interest rate (as a percent)		0.00%	0.00%
Total		$ 0			645,000,000
U.S. dollar-denominated Term Loans | Line of Credit | Revolving Credit Facility | Fair Value
Debt Instrument [Line Items]
Total		$ 0			645,000,000
Multi-Currency Revolving loan facility | Line of Credit | Revolving Credit Facility
Debt Instrument [Line Items]
Effective interest rate (as a percent)		1.50%	1.50%
Total		$ 0			0
Multi-Currency Revolving loan facility | Line of Credit | Revolving Credit Facility | Fair Value
Debt Instrument [Line Items]
Total		$ 0			0
4.375% Senior Notes, due 2023 | Senior Notes
Debt Instrument [Line Items]
Stated interest rate (as a percent)		4.375%	4.375%
Effective interest rate (as a percent)		4.50%	4.50%
Face Value		$ 250,000,000
Total		250,000,000			249,000,000
4.375% Senior Notes, due 2023 | Senior Notes | Fair Value
Debt Instrument [Line Items]
Total		$ 260,000,000			267,000,000
4.15% Senior Notes, due 2024 | Senior Notes
Debt Instrument [Line Items]
Stated interest rate (as a percent)		4.15%	4.15%
Effective interest rate (as a percent)		4.60%	4.60%
Face Value		$ 750,000,000
Total		747,000,000			746,000,000
4.15% Senior Notes, due 2024 | Senior Notes | Fair Value
Debt Instrument [Line Items]
Total		$ 796,000,000			817,000,000
3.20% Senior Notes, due 2025 | Senior Notes
Debt Instrument [Line Items]
Stated interest rate (as a percent)		3.20%	3.20%			3.20%
Effective interest rate (as a percent)		3.40%	3.40%
Face Value		$ 500,000,000				$ 500,000,000
Total		497,000,000			496,000,000
3.20% Senior Notes, due 2025 | Senior Notes | Fair Value
Debt Instrument [Line Items]
Total		$ 523,000,000			533,000,000
3.45% Senior Notes, due 2026 | Senior Notes
Debt Instrument [Line Items]
Stated interest rate (as a percent)		3.45%	3.45%
Effective interest rate (as a percent)		3.50%	3.50%
Face Value		$ 750,000,000
Total		749,000,000			749,000,000
3.45% Senior Notes, due 2026 | Senior Notes | Fair Value
Debt Instrument [Line Items]
Total		$ 795,000,000			820,000,000
1.25% Senior Notes (EUR), due 2027 | Senior Notes
Debt Instrument [Line Items]
Stated interest rate (as a percent)		1.25%	1.25%
Effective interest rate (as a percent)		1.50%	1.50%
Face Value | €			€ 500,000,000	€ 500,000,000
Total		$ 560,000,000			0
1.25% Senior Notes (EUR), due 2027 | Senior Notes | Fair Value
Debt Instrument [Line Items]
Total		$ 574,000,000			0
4.70% Senior Notes, due 2028 | Senior Notes
Debt Instrument [Line Items]
Stated interest rate (as a percent)		4.70%	4.70%
Effective interest rate (as a percent)		5.00%	5.00%
Face Value		$ 1,250,000,000
Total		1,243,000,000			1,242,000,000
4.70% Senior Notes, due 2028 | Senior Notes | Fair Value
Debt Instrument [Line Items]
Total		$ 1,423,000,000			$ 1,472,000,000

LONG-TERM DEBT - Annual Repayme

LONG-TERM DEBT - Annual Repayment Requirements for Debt Obligations (Details) $ in Millions	Dec. 31, 2021USD ($)
Debt Disclosure [Abstract]
2022	$ 2
2023	250
2024	762
2025	500
2026	750
Thereafter	1,817
Total	$ 4,081

LONG-TERM DEBT - Narrative (Det

LONG-TERM DEBT - Narrative (Details)	Jun. 03, 2021USD ($)	Jun. 29, 2020USD ($)	Apr. 10, 2020USD ($)	Dec. 31, 2021USD ($)	Dec. 31, 2021USD ($)	Dec. 31, 2021EUR (€)	Jun. 03, 2021EUR (€)	Dec. 31, 2020USD ($)	Jun. 08, 2018USD ($)
Debt Instrument [Line Items]
Total unamortized debt issuance costs				$ 23,000,000	$ 23,000,000			$ 21,000,000
Weighted average interest rate on variable rate debt				1.50%	1.50%	1.50%
Long-term debt				$ 4,058,000,000	$ 4,058,000,000			4,239,000,000
Letters of credit outstanding				$ 791,000,000	$ 791,000,000			737,000,000
2018 Refinancing Credit Agreement
Debt Instrument [Line Items]
Leverage ratio (at most)					3.25
2018 Refinancing Credit Agreement | Debt Instrument, Covenant, Period One
Debt Instrument [Line Items]
Leverage ratio (at most)				3.75
2018 Refinancing Credit Agreement | Debt Instrument, Covenant, Period Two
Debt Instrument [Line Items]
Leverage ratio (at most)				3.50
2018 Refinancing Credit Agreement | Revolving Credit Facility
Debt Instrument [Line Items]
Maximum borrowing capacity				$ 1,200,000,000	$ 1,200,000,000
Line of Credit
Debt Instrument [Line Items]
Maximum borrowing capacity			$ 600,000,000
Debt instrument, term			364 days		364 days
Line of Credit | Revolving Credit Facility
Debt Instrument [Line Items]
Maximum borrowing capacity			$ 144,000,000
Line of Credit | 2018 Refinancing Credit Agreement | Revolving Credit Facility
Debt Instrument [Line Items]
Maximum borrowing capacity									$ 1,200,000,000
Letters of credit outstanding				3,000,000	$ 3,000,000
Line of Credit | 2018 Refinancing Credit Agreement | Swing Line Sub Facility
Debt Instrument [Line Items]
Maximum borrowing capacity									75,000,000
Line of Credit | 2018 Refinancing Credit Agreement | Letter of Credit
Debt Instrument [Line Items]
Maximum borrowing capacity									$ 450,000,000
Line of Credit | Term Loan
Debt Instrument [Line Items]
Long-term debt			$ 456,000,000
Senior Notes
Debt Instrument [Line Items]
Debt issuance face value (as a percent)					100.00%
Senior Notes | 4.375% Senior Notes, due 2023
Debt Instrument [Line Items]
Long-term debt				$ 250,000,000	$ 250,000,000			249,000,000
Stated interest rate (as a percent)				4.375%	4.375%	4.375%
Face Value				$ 250,000,000	$ 250,000,000
Senior Notes | 4.15% Senior Notes, due 2024
Debt Instrument [Line Items]
Long-term debt				$ 747,000,000	$ 747,000,000			746,000,000
Stated interest rate (as a percent)				4.15%	4.15%	4.15%
Face Value				$ 750,000,000	$ 750,000,000
Senior Notes | 3.20% Senior Notes, due 2025
Debt Instrument [Line Items]
Long-term debt				$ 497,000,000	$ 497,000,000			496,000,000
Stated interest rate (as a percent)		3.20%		3.20%	3.20%	3.20%
Debt issuance face value (as a percent)		99.892%
Face Value		$ 500,000,000		$ 500,000,000	$ 500,000,000
Debt issuance costs, gross		$ 2,000,000
Senior Notes | 3.45% Senior Notes, due 2026
Debt Instrument [Line Items]
Long-term debt				$ 749,000,000	$ 749,000,000			749,000,000
Stated interest rate (as a percent)				3.45%	3.45%	3.45%
Face Value				$ 750,000,000	$ 750,000,000
Senior Notes | 1.25% Senior Notes (EUR), due 2027
Debt Instrument [Line Items]
Long-term debt				$ 560,000,000	$ 560,000,000			0
Stated interest rate (as a percent)				1.25%	1.25%	1.25%
Debt issuance face value (as a percent)	99.267%
Face Value | €						€ 500,000,000	€ 500,000,000
Debt issuance costs, gross	$ 4,000,000
Proceeds from issuance of debt	$ 599,000,000
Senior Notes | 4.70% Senior Notes, due 2028
Debt Instrument [Line Items]
Long-term debt				$ 1,243,000,000	$ 1,243,000,000			$ 1,242,000,000
Stated interest rate (as a percent)				4.70%	4.70%	4.70%
Face Value				$ 1,250,000,000	$ 1,250,000,000

LONG-TERM DEBT - Interest Cover

LONG-TERM DEBT - Interest Coverage Ratio & Leverage Ratio (Details) - 2018 Refinancing Credit Agreement	12 Months Ended
	Dec. 31, 2021
Debt Instrument [Line Items]
Interest Coverage Ratio	3
Leverage Ratio	3.25

LONG-TERM DEBT - Schedule of Li

LONG-TERM DEBT - Schedule of Line of Credit Facilities (Details) - USD ($)	Dec. 31, 2021	Dec. 31, 2020	Apr. 10, 2020	Jun. 08, 2018
Debt Instrument [Line Items]
Letters of Credit Under Credit Agreement	$ (791,000,000)	$ (737,000,000)
Revolving Credit Facility | 2018 Refinancing Credit Agreement
Debt Instrument [Line Items]
Maximum Availability	1,200,000,000
Current Availability	1,197,000,000
Line of Credit
Debt Instrument [Line Items]
Maximum Availability			$ 600,000,000
Line of Credit | Revolving Credit Facility
Debt Instrument [Line Items]
Maximum Availability			$ 144,000,000
Line of Credit | Revolving Credit Facility | 2018 Refinancing Credit Agreement
Debt Instrument [Line Items]
Maximum Availability				$ 1,200,000,000
Letters of Credit Under Credit Agreement	$ (3,000,000)

EMPLOYEE BENEFIT PLANS - Obliga

EMPLOYEE BENEFIT PLANS - Obligations and Funded Status (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Change in plan assets
Fair value of plan assets at beginning of year	$ 341
Fair value of plan assets at end of year	347	$ 341
Fair value of plan assets	347	341
Amounts recognized in the statement of financial position consist of:
Noncurrent liabilities	(77)	(114)
U.S. | Defined Benefit Pension Plans
Change in projected benefit obligation
Obligation at beginning of year	(43)	(41)
Service cost	0	0	$ 0
Interest cost	(1)	(1)	(2)
Employee contributions	0	0
Plan settlements and amendments	0	0
Benefits paid	3	3
Actuarial gain (loss)	2	(4)
Effect of currency rate changes	0	0
Obligation at end of year	(39)	(43)	(41)
Change in plan assets
Fair value of plan assets at beginning of year	36	34
Actual return on plan assets	2	4
Employer contributions	5	1
Employee contributions	0	0
Benefits paid	(3)	(3)
Settlements and other	0	0
Effect of currency rate changes	0	0
Fair value of plan assets at end of year	40	36	34
Fair value of plan assets	40	36	34
Benefit obligations	(39)	(43)	(41)
Funded status	1	(7)
Amounts recognized in the statement of financial position consist of:
Noncurrent assets	1	0
Current liabilities	0	0
Noncurrent liabilities	0	(7)
Net amount recognized	1	(7)
Amounts recognized in Accumulated other comprehensive loss, before tax consist of:
Prior service cost	0	0
Net actuarial loss	(16)	(19)
Net amount recognized	(16)	(19)
International | Defined Benefit Pension Plans
Change in projected benefit obligation
Obligation at beginning of year	(385)	(347)
Service cost	(4)	(4)	(3)
Interest cost	(4)	(6)	(7)
Employee contributions	(1)	0
Plan settlements and amendments	1	(2)
Benefits paid	13	14
Actuarial gain (loss)	15	(22)
Effect of currency rate changes	9	(18)
Obligation at end of year	(356)	(385)	(347)
Change in plan assets
Fair value of plan assets at beginning of year	305	270
Actual return on plan assets	11	25
Employer contributions	11	10
Employee contributions	1	1
Benefits paid	(13)	(14)
Settlements and other	(3)	2
Effect of currency rate changes	(5)	11
Fair value of plan assets at end of year	307	305	270
Fair value of plan assets	307	305	270
Benefit obligations	(356)	(385)	$ (347)
Funded status	(49)	(80)
Amounts recognized in the statement of financial position consist of:
Noncurrent assets	17	14
Current liabilities	(2)	(3)
Noncurrent liabilities	(64)	(91)
Net amount recognized	(49)	(80)
Amounts recognized in Accumulated other comprehensive loss, before tax consist of:
Prior service cost	(1)	(1)
Net actuarial loss	(70)	(90)
Net amount recognized	$ (71)	$ (91)

EMPLOYEE BENEFIT PLANS - Narrat

EMPLOYEE BENEFIT PLANS - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Defined Benefit Plans And Other Postretirement Benefit Plans [Line Items]
Costs recognized under defined contribution plans	$ 55	$ 55	$ 55
Number of shares held on behalf of participants (in shares)	387,000	409,000
Market value of the shares held on behalf of participants	$ 36	$ 30
U.S. | Defined Benefit Pension Plans
Defined Benefit Plans And Other Postretirement Benefit Plans [Line Items]
Aggregate accumulated benefit obligation	$ 38	42
U.S. | Defined Benefit Pension Plans | Equity security funds
Defined Benefit Plans And Other Postretirement Benefit Plans [Line Items]
Target asset allocation (as a percent)	75.00%
U.S. | Defined Benefit Pension Plans | Debt security funds
Defined Benefit Plans And Other Postretirement Benefit Plans [Line Items]
Target asset allocation (as a percent)	25.00%
International | Defined Benefit Pension Plans
Defined Benefit Plans And Other Postretirement Benefit Plans [Line Items]
Aggregate accumulated benefit obligation	$ 345	$ 372
Contribution to the plan	$ 3
International | Defined Benefit Pension Plans | Equity security funds
Defined Benefit Plans And Other Postretirement Benefit Plans [Line Items]
Target asset allocation (as a percent)	10.00%
International | Defined Benefit Pension Plans | Debt security funds
Defined Benefit Plans And Other Postretirement Benefit Plans [Line Items]
Target asset allocation (as a percent)	22.00%
International | Defined Benefit Pension Plans | Other Investments
Defined Benefit Plans And Other Postretirement Benefit Plans [Line Items]
Target asset allocation (as a percent)	68.00%

EMPLOYEE BENEFIT PLANS - Schedu

EMPLOYEE BENEFIT PLANS - Schedule of U.S. and International Pension Plans with Accumulated Benefit Obligations and with Projected Benefit Obligations in Excess of Plan Assets (Details) - Defined Benefit Pension Plans - USD ($) $ in Millions	Dec. 31, 2021	Dec. 31, 2020
U.S.
Information for pension plans with accumulated benefit obligations in excess of Plan assets:
Projected benefit obligation		$ (43)
Accumulated benefit obligation		(42)
Fair value of plan assets		36
Information for pension plans with projected benefit obligations in excess of plan assets:
Projected benefit obligation		(43)
Accumulated benefit obligation		(42)
Fair value of plan assets		36
International
Information for pension plans with accumulated benefit obligations in excess of Plan assets:
Projected benefit obligation	$ (107)	(316)
Accumulated benefit obligation	(97)	(304)
Fair value of plan assets	41	222
Information for pension plans with projected benefit obligations in excess of plan assets:
Projected benefit obligation	(112)	(317)
Accumulated benefit obligation	(101)	(305)
Fair value of plan assets	$ 45	$ 224

EMPLOYEE BENEFIT PLANS - Compon

EMPLOYEE BENEFIT PLANS - Components of Net Periodic Benefit Costs (Details) - Defined Benefit Pension Plans - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
U.S.
Defined Benefit Plan Disclosure [Line Items]
Service cost	$ 0	$ 0	$ 0
Interest cost	1	1	2
Expected return on plan assets	(1)	(1)	(2)
Amortization of net loss	1	1	1
Settlement and curtailment losses recognized	0	0	0
Net periodic benefit cost	1	1	1
International
Defined Benefit Plan Disclosure [Line Items]
Service cost	4	4	3
Interest cost	4	6	7
Expected return on plan assets	(13)	(12)	(12)
Amortization of net loss	4	3	3
Settlement and curtailment losses recognized	1	0	0
Net periodic benefit cost	$ 0	$ 1	$ 1

EMPLOYEE BENEFIT PLANS - Other

EMPLOYEE BENEFIT PLANS - Other Changes in Plan Assets and Benefit Obligations Recognized in Other Comprehensive Income (Details) - Defined Benefit Pension Plans $ in Millions	12 Months Ended
	Dec. 31, 2021USD ($)
U.S.
Defined Benefit Plan Disclosure [Line Items]
Net gain arising during the year	$ 2
Effect of exchange rates and other	0
Total benefit recognized in Other comprehensive income	2
Total benefit recognized in Net periodic benefit cost and Other comprehensive income	1
International
Defined Benefit Plan Disclosure [Line Items]
Net gain arising during the year	13
Effect of exchange rates and other	2
Total benefit recognized in Other comprehensive income	15
Total benefit recognized in Net periodic benefit cost and Other comprehensive income	$ 15

EMPLOYEE BENEFIT PLANS - Weight

EMPLOYEE BENEFIT PLANS - Weighted Average Assumptions Used to Develop Actuarial Present Value of Projected Benefit Obligation (Details) - Defined Benefit Pension Plans	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
U.S.
Defined Benefit Plan Disclosure [Line Items]
Discount rate (as a percent)	2.87%	2.47%	3.27%
Expected return on plan assets (as a percent)	5.00%	5.35%	5.35%
Rate of compensation increase (as a percent)	3.00%	3.00%	3.00%
International
Defined Benefit Plan Disclosure [Line Items]
Discount rate (as a percent)	1.97%	1.39%	1.84%
Expected return on plan assets (as a percent)	4.27%	4.43%	5.01%
Rate of compensation increase (as a percent)	2.70%	2.65%	2.64%

EMPLOYEE BENEFIT PLANS - Pensio

EMPLOYEE BENEFIT PLANS - Pension Plan Assets by Asset Category (Details) - USD ($) $ in Millions	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	$ 347	$ 341
U.S. | Defined Benefit Pension Plans
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	40	36	$ 34
U.S. | Defined Benefit Pension Plans | Equity security funds
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	10	19
U.S. | Defined Benefit Pension Plans | Debt security funds
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	27	16
U.S. | Defined Benefit Pension Plans | Insurance Contracts
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0	0
U.S. | Defined Benefit Pension Plans | Cash and cash equivalents and other
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	3	1
International | Insurance Contracts
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	15	15
International | Defined Benefit Pension Plans
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	307	305	$ 270
International | Defined Benefit Pension Plans | Equity security funds
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	87	75
International | Defined Benefit Pension Plans | Debt security funds
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	194	198
International | Defined Benefit Pension Plans | Insurance Contracts
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	15	15
International | Defined Benefit Pension Plans | Cash and cash equivalents and other
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	$ 11	$ 17

EMPLOYEE BENEFIT PLANS - Sche_2

EMPLOYEE BENEFIT PLANS - Schedule of Pension Plan Assets Measured at Fair Value (Details) - USD ($) $ in Millions	Dec. 31, 2021	Dec. 31, 2020
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	$ 347	$ 341
NAV
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	7	6
Level 1
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	58	60
Level 2
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	272	265
Level 3
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	10	10
Equity | U.S.
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	10	19
Equity | NAV | U.S.
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0	0
Equity | Level 1 | U.S.
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	10	19
Equity | Level 2 | U.S.
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0	0
Equity | Level 3 | U.S.
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0	0
Debt Securities | U.S.
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	27	16
Debt Securities | NAV | U.S.
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0	0
Debt Securities | Level 1 | U.S.
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	15	6
Debt Securities | Level 2 | U.S.
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	12	10
Debt Securities | Level 3 | U.S.
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0	0
Cash and cash equivalents | U.S.
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	3	1
Cash and cash equivalents | NAV | U.S.
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0	0
Cash and cash equivalents | Level 1 | U.S.
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	3	1
Cash and cash equivalents | Level 2 | U.S.
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0	0
Cash and cash equivalents | Level 3 | U.S.
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0	0
Equity | International
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	87	75
Equity | NAV | International
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	7	6
Equity | Level 1 | International
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	20	22
Equity | Level 2 | International
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	60	47
Equity | Level 3 | International
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0	0
Debt Securities | International
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	194	198
Debt Securities | NAV | International
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0	0
Debt Securities | Level 1 | International
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	4	3
Debt Securities | Level 2 | International
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	190	195
Debt Securities | Level 3 | International
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0	0
Insurance Contracts | International
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	15	15
Insurance Contracts | NAV | International
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0	0
Insurance Contracts | Level 1 | International
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0	0
Insurance Contracts | Level 2 | International
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	5	5
Insurance Contracts | Level 3 | International
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	10	10
Cash and cash equivalents and other | International
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	11	17
Cash and cash equivalents and other | NAV | International
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0	0
Cash and cash equivalents and other | Level 1 | International
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	6	9
Cash and cash equivalents and other | Level 2 | International
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	5	8
Cash and cash equivalents and other | Level 3 | International
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	$ 0	$ 0

EMPLOYEE BENEFIT PLANS - Benefi

EMPLOYEE BENEFIT PLANS - Benefit Payments Expected to be Paid to Plan Participants (Details) - Defined Benefit Pension Plans $ in Millions	Dec. 31, 2021USD ($)
U.S.
Defined Benefit Plan Disclosure [Line Items]
2022	$ 3
2023	3
2024	3
2025	3
2026	3
2027 through 2031	12
International
Defined Benefit Plan Disclosure [Line Items]
2022	14
2023	15
2024	15
2025	16
2026	16
2027 through 2031	$ 90

INCOME TAXES - Components of In

INCOME TAXES - Components of Income from Operations before Provision for Income Taxes (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Income Tax Disclosure [Abstract]
Domestic	$ 253	$ 78	$ 118
Foreign	484	479	329
Income before income taxes	$ 737	$ 557	$ 447

INCOME TAXES - Consolidated Pro

INCOME TAXES - Consolidated Provision for Income Taxes (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Current tax expense (benefit)
Federal	$ (81)	$ 6	$ 5
State	27	17	1
Foreign	138	93	141
Current taxes	84	116	147
Deferred tax expense (benefit)
Federal	87	36	20
State	10	(2)	3
Foreign	(9)	(5)	(50)
Deferred taxes	88	29	(27)
Total provision	$ 172	$ 145	$ 120

INCOME TAXES - Reconciliation o

INCOME TAXES - Reconciliation of Income Tax Rate (Details)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Income Tax Disclosure [Abstract]
U.S. federal statutory rate	21.00%	21.00%	21.00%
State taxes	0.30%	2.60%	0.80%
Foreign	3.30%	4.40%	(0.40%)
Research and development credit	(0.80%)	(1.30%)	(1.70%)
U.S. net operating loss carryback	(3.40%)	0.00%	0.00%
Changes in valuation allowance	3.00%	(2.00%)	3.50%
U.S. tax reform provision	0.70%	1.30%	2.00%
Transaction costs related to acquisitions	0.10%	0.00%	1.00%
Other, net	(1.00%)	0.00%	0.70%
Effective rate	23.20%	26.00%	26.90%

INCOME TAXES - Components of De

INCOME TAXES - Components of Deferred Tax Assets and Liabilities (Details) - USD ($) $ in Millions	Dec. 31, 2021	Dec. 31, 2020
Deferred income tax assets:
Accrued expenses and reserves	$ 44	$ 39
Warranty reserve	53	51
Deferred compensation/employee benefits	62	43
Right-of-use asset	76	70
Pension and postretirement obligations	24	26
Property, plant & equipment	0	48
Inventory	46	45
Net operating loss carry forwards	102	83
Other	102	46
Gross deferred income tax assets	509	451
Less: Valuation allowance	(64)	(42)
Total deferred income tax assets	445	409
Deferred income tax liabilities:
Property, plant & equipment	85	0
Right-of-use liability	78	69
Intangibles	503	444
Total deferred income tax liabilities	666	513
Total deferred income tax liabilities	$ 221	$ 104

INCOME TAXES - Narrative (Detai

INCOME TAXES - Narrative (Details) - USD ($) $ in Millions	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Income Tax Disclosure [Abstract]
Valuation allowance	$ 64	$ 42
Unrecognized tax benefits	32	16	$ 17	$ 9
Unrecognized tax benefits if recognized that would affect effective tax rate	18	15
Accrued interest	5	$ 5
Unrecognized tax benefits subject to change within the next 12 months	5
Operating Loss Carryforwards [Line Items]
Net operating loss carry-forwards	311
Indefinite
Operating Loss Carryforwards [Line Items]
Net operating loss carry-forwards	192
Within Ten Years
Operating Loss Carryforwards [Line Items]
Net operating loss carry-forwards	66
Between December 31, 2032 To December 31, 2041
Operating Loss Carryforwards [Line Items]
Net operating loss carry-forwards	$ 53

INCOME TAXES - Liability for In

INCOME TAXES - Liability for Income Taxes Associated with Uncertain Tax Positions (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward]
Gross liability for unrecognized tax benefits at beginning of year	$ 16	$ 17	$ 9
Gross increases - unrecognized tax benefits in prior periods	19	4	10
Gross decreases - audit settlement during year	(1)	(5)	0
Gross decreases - expiration of audit statute of limitations	(2)	0	(2)
Gross liability for unrecognized tax benefits at end of year	$ 32	$ 16	$ 17

EARNINGS PER SHARE - Computatio

EARNINGS PER SHARE - Computation of Earnings Per Share (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Numerator
Net income attributable to Wabtec common shareholders - basic	$ 556	$ 413	$ 325
Add: dividends declared - preferred shares	0	0	1
Net income attributable to Wabtec common shareholders - diluted	$ 556	$ 413	$ 326
Denominator
Basic weighted average shares outstanding (in shares)	187.7	189.9	170.5
Assumed conversion of preferred shares (in shares)	0	0	6.4
Assumed conversion of dilutive stock-based compensation plans (in shares)	0.4	0.5	0.4
Weighted average shares outstanding - diluted (in shares)	188.1	190.4	177.3
Net income per common share attributable to Wabtec shareholders
Basic (in dollars per share)	$ 2.96	$ 2.18	$ 1.91
Diluted (in dollars per share)	$ 2.96	$ 2.17	$ 1.84

EARNINGS PER SHARE - Narrative

EARNINGS PER SHARE - Narrative (Details) - shares shares in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Earnings Per Share [Abstract]
Shares not included in computation of diluted earnings per share	0.4	0.3

STOCK-BASED COMPENSATION PLAN_2

STOCK-BASED COMPENSATION PLANS - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Stock-based compensation expense			$ 46	$ 20	$ 50
Tax benefits related to stock-based compensation plans			1	$ 2	$ 1
Unamortized compensation expense expected to be vested			$ 38
Unamortized compensation expense expected to be vested, period for recognition			1 year 3 months 18 days
Risk-free interest rate, year			7 years
Employee Stock Option
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Stock-based compensation expense			$ 3
Non-Vested Restricted Stock
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Stock-based compensation expense			13
Restricted Stock Units (RSUs)
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Stock-based compensation expense			$ 6
Incentive Stock Awards
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Award vesting period			3 years
Stock-based compensation expense			$ 23
Percentage of incentive stock awards expected to be vested and awarded of stocks granted			33.00%
Incentive Stock Awards | Scenario Forecast
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Percentage of incentive stock awards expected to be vested and awarded of stocks granted	117.00%	121.00%
Incentive Stock Awards | Minimum
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Percentage of incentive stock awards expected to be vested and awarded of stocks granted			0.00%
Incentive Stock Awards | Maximum
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Percentage of incentive stock awards expected to be vested and awarded of stocks granted			200.00%
Plan 2011
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Number of shares available for grant			6,399,200
Plan 2011 | Employee Stock Option
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Award vesting period			3 years
Plan term, years			10 years
Plan 2011 | Restricted Stock
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Award vesting period			3 years
Directors Plan
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Shares issued			951,175
Stock-based compensation expense			$ 1
Directors Plan | Employee Stock Option
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Shares authorized for grants			1,000,000
Award vesting period			3 years
Plan term, years			10 years
Directors Plan | Restricted Stock
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Award vesting period			1 year
Shares issued			18,142	23,152	15,729
Directors Plan | Restricted Stock Units (RSUs)
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Award vesting period			1 year
Plan 2000 | Employee Stock Option
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Award vesting period			3 years
Plan term, years			10 years
Plan 2000 | Restricted Stock
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Award vesting period			3 years

STOCK-BASED COMPENSATION PLAN_3

STOCK-BASED COMPENSATION PLANS - Stock Option Activity (Details) - USD ($) $ / shares in Units, $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Options
Outstanding, beginning of period (in shares)	552,669	588,024	466,677
Granted (in shares)	126,794	136,506	134,450
Exercised (in shares)	(113,728)	(86,145)	(4,868)
Canceled (in shares)	(33,820)	(85,716)	(8,235)
Outstanding, end of period (in shares)	531,915	552,669	588,024	466,677
Exercisable, end of period (in shares)	308,591
Weighted Average Exercise Price
Outstanding, beginning of period (in dollars per share)	$ 69.82	$ 63.36	$ 61.04
Granted (in dollars per share)	81.21	77.75	70.44
Exercised (in dollars per share)	50.38	35.47	22.45
Canceled (in dollars per share)	73.53	73.73	73
Outstanding, end of period (in dollars per share)	75.40	$ 69.82	$ 63.36	$ 61.04
Exercisable, end of period (in dollars per share)	$ 73.39
Weighted Average Remaining Contractual Life
Outstanding (in years)	6 years 6 months	6 years 1 month 6 days	5 years 8 months 12 days	5 years 8 months 12 days
Exercisable, end of period (in years)	6 years 1 month 6 days
Aggregate Intrinsic Value
Outstanding, beginning of period	$ 4	$ 9	$ 4
Granted	0	0	1
Exercised	0	0	0
Canceled	0	0	0
Outstanding, end of period	9	$ 4	$ 9	$ 4
Exercisable, end of period	$ 6

STOCK-BASED COMPENSATION PLAN_4

STOCK-BASED COMPENSATION PLANS - Stock Options Outstanding (Details)	12 Months Ended
	Dec. 31, 2021$ / sharesshares
Share Based Compensation Shares Authorized Under Stock Option Plans Exercise Price Range [Line Items]
Number of Options Outstanding (in shares) | shares	531,915
Weighted Average Exercise Price of Options Outstanding (in dollars per share)	$ 75.40
Number of Options Currently Exercisable (in shares) | shares	308,591
Weighted Average Exercise Price of Options Currently Exercisable (in dollars per share)	$ 73.39
35.00 - 50.00
Share Based Compensation Shares Authorized Under Stock Option Plans Exercise Price Range [Line Items]
Exercise price, low range (in dollars per share)	35
Exercise price, high range (in dollars per share)	$ 50
Number of Options Outstanding (in shares) | shares	35,002
Weighted Average Exercise Price of Options Outstanding (in dollars per share)	$ 47.80
Weighted Average Remaining Contractual Life (in years)	1 year 1 month 6 days
Number of Options Currently Exercisable (in shares) | shares	35,002
Weighted Average Exercise Price of Options Currently Exercisable (in dollars per share)	$ 47.80
50.00 - 65.00
Share Based Compensation Shares Authorized Under Stock Option Plans Exercise Price Range [Line Items]
Exercise price, low range (in dollars per share)	50
Exercise price, high range (in dollars per share)	$ 65
Number of Options Outstanding (in shares) | shares	40,317
Weighted Average Exercise Price of Options Outstanding (in dollars per share)	$ 59.09
Weighted Average Remaining Contractual Life (in years)	4 years 7 months 6 days
Number of Options Currently Exercisable (in shares) | shares	37,217
Weighted Average Exercise Price of Options Currently Exercisable (in dollars per share)	$ 60.52
65.00 - 80.00
Share Based Compensation Shares Authorized Under Stock Option Plans Exercise Price Range [Line Items]
Exercise price, low range (in dollars per share)	65
Exercise price, high range (in dollars per share)	$ 80
Number of Options Outstanding (in shares) | shares	248,483
Weighted Average Exercise Price of Options Outstanding (in dollars per share)	$ 74.43
Weighted Average Remaining Contractual Life (in years)	6 years 10 months 24 days
Number of Options Currently Exercisable (in shares) | shares	143,862
Weighted Average Exercise Price of Options Currently Exercisable (in dollars per share)	$ 73.37
Over 80.00
Share Based Compensation Shares Authorized Under Stock Option Plans Exercise Price Range [Line Items]
Exercise price, low range (in dollars per share)	$ 80
Number of Options Outstanding (in shares) | shares	208,113
Weighted Average Exercise Price of Options Outstanding (in dollars per share)	$ 84.36
Weighted Average Remaining Contractual Life (in years)	7 years 3 months 18 days
Number of Options Currently Exercisable (in shares) | shares	92,510
Weighted Average Exercise Price of Options Currently Exercisable (in dollars per share)	$ 88.28

STOCK-BASED COMPENSATION PLAN_5

STOCK-BASED COMPENSATION PLANS - Schedule of Share-Based Fair Value of Each Option Grant Weighted-Average Assumptions (Details) - $ / shares	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Share-based Payment Arrangement [Abstract]
Dividend yield	0.60%	0.60%	0.66%
Risk-free interest rate	0.80%	1.50%	2.60%
Stock price volatility	36.10%	28.10%	25.80%
Expected life (years)	5 years	5 years	5 years
Weighted average fair value of options granted during the year (in dollars per share)	$ 25.01	$ 21.05	$ 19.54

STOCK-BASED COMPENSATION PLAN_6

STOCK-BASED COMPENSATION PLANS - Restricted Stock Activity and Incentive Stock Awards Activity (Details) - $ / shares	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Weighted Average Grant Date Fair Value
Outstanding, beginning of period (in dollars per share)	$ 73.80	$ 73.64	$ 75.51
Granted (in dollars per share)	81.64	75.68	70.61
Vested (in dollars per share)	71.82	77.45	71.65
Adjustment for incentive stock awards expected to vest (in dollars per share)	76.26	71.32	78.04
Canceled (in dollars per share)	76.24	72.83	74.04
Outstanding, end of period (in dollars per share)	$ 78.06	$ 73.80	$ 73.64
Restricted Stock and Units
Number of Shares
Outstanding, beginning of period (in shares)	656,006	791,031	445,089
Granted (in shares)	235,902	283,587	608,813
Vested (in shares)	(350,955)	(345,859)	(235,406)
Adjustment for incentive stock awards expected to vest (in shares)	0	0	0
Canceled (in shares)	(33,255)	(72,753)	(27,465)
Outstanding, end of period (in shares)	507,698	656,006	791,031
Incentive Stock Awards
Number of Shares
Outstanding, beginning of period (in shares)	270,645	572,002	415,242
Granted (in shares)	241,467	250,197	259,950
Vested (in shares)	(37,672)	(147,069)	(119,835)
Adjustment for incentive stock awards expected to vest (in shares)	180,767	(331,004)	80,403
Canceled (in shares)	(48,106)	(73,481)	(63,758)
Outstanding, end of period (in shares)	607,101	270,645	572,002

ACCUMULATED OTHER COMPREHENSI_3

ACCUMULATED OTHER COMPREHENSIVE LOSS (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance beginning of period	$ 10,153	$ 9,994	$ 2,870
Other comprehensive (loss) income, net	(127)	43	(126)
Balance end of period	10,239	10,153	9,994
Foreign currency translation
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance beginning of period	(260)	(308)	(202)
Other comprehensive (loss) income before reclassifications	(136)	48	(106)
Amounts reclassified from Accumulated other comprehensive loss	0	0	0
Other comprehensive (loss) income, net	(136)	48	(106)
Balance end of period	(396)	(260)	(308)
Derivative contracts
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance beginning of period	3	(3)	0
Other comprehensive (loss) income before reclassifications	(8)	6	(3)
Amounts reclassified from Accumulated other comprehensive loss	0	0	0
Other comprehensive (loss) income, net	(8)	6	(3)
Balance end of period	(5)	3	(3)
Pension and post retirement benefit plans
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance beginning of period	(82)	(72)	(55)
Other comprehensive (loss) income before reclassifications	13	(13)	(19)
Amounts reclassified from Accumulated other comprehensive loss	4	3	2
Other comprehensive (loss) income, net	17	(10)	(17)
Balance end of period	(65)	(82)	(72)
Accumulated Other Comprehensive Loss
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance beginning of period	(339)	(383)	(257)
Other comprehensive (loss) income before reclassifications	(131)	41	(128)
Amounts reclassified from Accumulated other comprehensive loss	4	3	2
Other comprehensive (loss) income, net	(127)	44	(126)
Balance end of period	$ (466)	$ (339)	$ (383)

LEASES - Narrative (Details)

LEASES - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Operating Leased Assets [Line Items]
Operating lease expense	$ 59	$ 57	$ 54
New operating leases	$ 80	$ 68
Minimum
Operating Leased Assets [Line Items]
Discount rate (as a percent)	1.00%
Maximum
Operating Leased Assets [Line Items]
Discount rate (as a percent)	9.00%

LEASES - Maturity of Lease Liab

LEASES - Maturity of Lease Liabilities (Details) $ in Millions	Dec. 31, 2021USD ($)
Operating Leases
2022	$ 60
2023	52
2024	47
2025	40
2026	33
Thereafter	113
Total lease payments	345
Less: Present value discount	$ (27)
Operating Lease, Liability, Statement of Financial Position [Extensible List]	Other accrued liabilities
Present value lease liabilities	$ 318

LEASES - Lease Term and Discoun

LEASES - Lease Term and Discount Rate (Details)	Dec. 31, 2021	Dec. 31, 2020
Weighted-average remaining lease term (years)
Operating leases	8 years 2 months 12 days	7 years 4 months 24 days
Weighted-average discount rate
Operating leases	2.30%	2.70%

WARRANTIES (Details)

WARRANTIES (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Movement in Standard and Extended Product Warranty, Increase (Decrease) [Roll Forward]
Balance at beginning of year	$ 279	$ 268
Acquisitions	2	4
Warranty expense	116	130
Warranty claim payments	(124)	(131)
Foreign currency impact	(14)	8
Balance at end of year	$ 259	$ 279

FAIR VALUE MEASUREMENT AND DE_3

FAIR VALUE MEASUREMENT AND DERIVATIVE INSTRUMENTS - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019	Feb. 25, 2019
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Product Warranty Accrual, Noncurrent	$ 141	$ 218
Foreign Exchange Forward | Non-Designated
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Net (loss) gain	$ (5)	(1)	$ 2
Derivative term (in years)	1 year
General Electric Company
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Contingent consideration				$ 440
Other Accrued Liabilities | General Electric Company | Level 3
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Contingent consideration	$ 110	$ 130

FAIR VALUE MEASUREMENT AND DE_4

FAIR VALUE MEASUREMENT AND DERIVATIVE INSTRUMENTS - Summary of Assets, Liabilities and Gross Notional Amounts (Details) - USD ($) $ in Millions	Dec. 31, 2021	Dec. 31, 2020
Designated
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Total	$ 7	$ (21)
Gross Notional Amount	1,254	2,335
Non-Designated
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Total	(2)	(1)
Gross Notional Amount	289	321
Other current assets | Foreign Exchange Contracts | Designated
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Derivative assets at fair value	8	9
Gross Notional Amount	627	794
Other current assets | Foreign Exchange Contracts | Non-Designated
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Derivative assets at fair value	0	1
Gross Notional Amount	0	1
Other current assets | Cross-currency Swaps | Designated
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Derivative assets at fair value	0
Gross Notional Amount	14
Other current assets | Cross-currency Swaps | Non-Designated
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Derivative assets at fair value	0
Gross Notional Amount	0
Other current liabilities | Foreign Exchange Contracts | Designated
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Derivative liabilities at fair value	(1)	(4)
Gross Notional Amount	613	928
Other current liabilities | Foreign Exchange Contracts | Non-Designated
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Derivative liabilities at fair value	(2)	(2)
Gross Notional Amount	$ 289	320
Other current liabilities | Cross-currency Swaps | Designated
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Derivative liabilities at fair value		(26)
Gross Notional Amount		613
Other current liabilities | Cross-currency Swaps | Non-Designated
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Derivative liabilities at fair value		0
Gross Notional Amount		$ 0

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (Details) $ in Millions	Sep. 08, 2017USD ($)	Dec. 31, 2021claim
Threatened Litigation | Denver Transit Installation of Constant Wireless Crossings | Subsidiaries
Loss Contingencies [Line Items]
Alleged damages | $	$ 37
Pending Litigation
Loss Contingencies [Line Items]
Pending litigation cases | claim		0

SEGMENT INFORMATION - Narrative

SEGMENT INFORMATION - Narrative (Details)	12 Months Ended
	Dec. 31, 2021segment
Segment Reporting [Abstract]
Number of reportable segments	2

SEGMENT INFORMATION - Segment F

SEGMENT INFORMATION - Segment Financial Information (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Segment Reporting Information [Line Items]
Total net sales	$ 7,822	$ 7,556	$ 8,200
Income (loss) from operations	876	745	663
Interest expense and other, net	(139)	(188)	(216)
Income (loss) before income taxes	737	557	447
Depreciation and amortization	491	473	401
Capital expenditures	130	136	186
Segment assets	18,454	18,454
Freight Segment
Segment Reporting Information [Line Items]
Total net sales	5,239	5,082	5,441
Transit Segment
Segment Reporting Information [Line Items]
Total net sales	2,583	2,474	2,759
Operating Segments | Freight Segment
Segment Reporting Information [Line Items]
Total net sales	5,287	5,131	5,501
Income (loss) from operations	717	584	643
Interest expense and other, net	0	0	0
Income (loss) before income taxes	717	584	643
Depreciation and amortization	405	393	330
Capital expenditures	79	70	105
Segment assets	18,291	15,393
Operating Segments | Transit Segment
Segment Reporting Information [Line Items]
Total net sales	2,616	2,511	2,782
Income (loss) from operations	238	230	214
Interest expense and other, net	0	0	0
Income (loss) before income taxes	238	230	214
Depreciation and amortization	70	67	62
Capital expenditures	48	40	64
Segment assets	5,768	6,395
Corporate Activities and Elimination
Segment Reporting Information [Line Items]
Total net sales	(81)	(86)	(83)
Income (loss) from operations	(79)	(69)	(194)
Interest expense and other, net	(139)	(188)	(216)
Income (loss) before income taxes	(218)	(257)	(410)
Depreciation and amortization	16	13	9
Capital expenditures	3	26	17
Segment assets	(5,605)	(3,334)
Corporate Activities and Elimination | Freight Segment
Segment Reporting Information [Line Items]
Total net sales	48	49	60
Corporate Activities and Elimination | Transit Segment
Segment Reporting Information [Line Items]
Total net sales	$ 33	$ 37	$ 23

SEGMENT INFORMATION - Geographi

SEGMENT INFORMATION - Geographic Area Data (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Revenues From External Customers And Long Lived Assets [Line Items]
Total net sales	$ 7,822	$ 7,556	$ 8,200
Long-Lived Assets	1,497	1,601
North America
Revenues From External Customers And Long Lived Assets [Line Items]
Total net sales	4,003	3,720	4,471
Long-Lived Assets	1,011	1,071
United States
Revenues From External Customers And Long Lived Assets [Line Items]
Total net sales	3,321	3,161	3,381
Long-Lived Assets	983	1,039
Canada
Revenues From External Customers And Long Lived Assets [Line Items]
Total net sales	462	372	733
Long-Lived Assets	6	9
Mexico
Revenues From External Customers And Long Lived Assets [Line Items]
Total net sales	220	187	357
Long-Lived Assets	22	23
South America
Revenues From External Customers And Long Lived Assets [Line Items]
Total net sales	301	217	218
Long-Lived Assets	32	32
Europe
Revenues From External Customers And Long Lived Assets [Line Items]
Total net sales	1,680	1,577	1,692
Long-Lived Assets	255	285
United Kingdom
Revenues From External Customers And Long Lived Assets [Line Items]
Total net sales	300	314	376
Long-Lived Assets	45	51
Germany
Revenues From External Customers And Long Lived Assets [Line Items]
Total net sales	383	351	340
Long-Lived Assets	70	82
France
Revenues From External Customers And Long Lived Assets [Line Items]
Total net sales	286	252	294
Long-Lived Assets	54	59
Italy
Revenues From External Customers And Long Lived Assets [Line Items]
Total net sales	196	172	206
Long-Lived Assets	29	31
Switzerland
Revenues From External Customers And Long Lived Assets [Line Items]
Total net sales	88	83	89
Long-Lived Assets	2	2
Other Europe
Revenues From External Customers And Long Lived Assets [Line Items]
Total net sales	427	405	387
Long-Lived Assets	55	60
India
Revenues From External Customers And Long Lived Assets [Line Items]
Total net sales	531	441	504
Long-Lived Assets	151	164
Australia / New Zealand
Revenues From External Customers And Long Lived Assets [Line Items]
Total net sales	386	366	301
Long-Lived Assets	9	12
China
Revenues From External Customers And Long Lived Assets [Line Items]
Total net sales	228	225	290
Long-Lived Assets	32	30
Other Asia / Middle East
Revenues From External Customers And Long Lived Assets [Line Items]
Total net sales	177	199	216
Long-Lived Assets	0	1
Egypt
Revenues From External Customers And Long Lived Assets [Line Items]
Total net sales	32	360	228
Long-Lived Assets	0	0
Other Africa
Revenues From External Customers And Long Lived Assets [Line Items]
Total net sales	72	138	105
Long-Lived Assets	4	4
Russia / CIS
Revenues From External Customers And Long Lived Assets [Line Items]
Total net sales	412	313	$ 175
Long-Lived Assets	$ 3	$ 2

SEGMENT INFORMATION - Sales by

SEGMENT INFORMATION - Sales by Product (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Revenue from External Customer [Line Items]
Total sales	$ 7,822	$ 7,556	$ 8,200
Freight Segment
Revenue from External Customer [Line Items]
Total sales	5,239	5,082	5,441
Transit Segment
Revenue from External Customer [Line Items]
Total sales	2,583	2,474	2,759
Services
Revenue from External Customer [Line Items]
Total sales	1,617	1,323	1,292
Services | Freight Segment
Revenue from External Customer [Line Items]
Total sales	2,430	2,068	1,991
Equipment | Freight Segment
Revenue from External Customer [Line Items]
Total sales	1,302	1,531	1,700
Components | Freight Segment
Revenue from External Customer [Line Items]
Total sales	867	819	1,073
Digital Electronics | Freight Segment
Revenue from External Customer [Line Items]
Total sales	640	664	677
Original Equipment Manufacturer | Transit Segment
Revenue from External Customer [Line Items]
Total sales	1,193	1,139	1,287
Aftermarket | Transit Segment
Revenue from External Customer [Line Items]
Total sales	$ 1,390	$ 1,335	$ 1,472

OTHER INCOME (EXPENSE), NET (De

OTHER INCOME (EXPENSE), NET (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Other Income and Expenses [Abstract]
Foreign currency gain (loss)	$ 8	$ (8)	$ (14)
Equity income	20	10	8
Expected return on pension assets/amortization	9	10	10
Other miscellaneous income (expense)	1	(1)	(1)
Other income, net	$ 38	$ 11	$ 3

SCHEDULE II - VALUATION AND Q_2

SCHEDULE II - VALUATION AND QUALIFYING ACCOUNTS (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Allowance for doubtful accounts
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward]
Balance at beginning of period	$ 37	$ 20	$ 17
Charged/ (credited) to expense	3	18	7
Charged/(credited) to other accounts	(1)	0	0
Deductions from reserves	7	1	4
Balance at end of period	32	37	20
Valuation allowance-taxes
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward]
Balance at beginning of period	42	58	42
Charged/ (credited) to expense	22	(16)	16
Charged/(credited) to other accounts	0	0	0
Deductions from reserves	0	0	0
Balance at end of period	$ 64	$ 42	$ 58