Westinghouse Air Brake Technologies (WAB) 10-K 12 Feb 25 2024 FY Annual report Financial data

Cover Page

Cover Page - USD ($) $ in Billions	12 Months Ended
	Dec. 31, 2024	Feb. 07, 2025	Jun. 30, 2024
Cover [Abstract]
Document Type	10-K
Document Annual Report	true
Document Period End Date	Dec. 31, 2024
Current Fiscal Year End Date	--12-31
Document Transition Report	false
Entity File Number	033-90866
Entity Registrant Name	WESTINGHOUSE AIR BRAKE TECHNOLOGIES CORPORATION
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
Document Financial Statement Error Correction [Flag]	false
Entity Shell Company	false
Entity Public Float			$ 24.4
Entity Common Stock, Shares Outstanding (in shares)		170,848,147
Documents Incorporated by Reference	Portions of the Proxy Statement for the registrant’s Annual Meeting of Stockholders to be held on May 15, 2025 are incorporated by reference into Part III of this Form 10-K.
Entity Central Index Key	0000943452
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	FY
Amendment Flag	false

Audit Information

Audit Information	12 Months Ended
	Dec. 31, 2024
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, 2024	Dec. 31, 2023
Assets
Cash, cash equivalents and restricted cash	$ 715	$ 620
Accounts receivable	1,152	1,160
Unbilled accounts receivable	550	524
Inventories, net	2,314	2,284
Other current assets	212	267
Total current assets	4,943	4,855
Property, plant and equipment, net	1,447	1,485
Goodwill	8,710	8,780
Other intangible assets, net	2,934	3,205
Other noncurrent assets	668	663
Total noncurrent assets	13,759	14,133
Total Assets	18,702	18,988
Liabilities
Accounts payable	1,300	1,250
Customer deposits	693	804
Accrued compensation	425	341
Accrued warranty	248	220
Current portion of long-term debt	500	781
Other accrued liabilities	626	660
Total current liabilities	3,792	4,056
Long-term debt	3,480	3,288
Accrued postretirement and pension benefits	58	62
Deferred income taxes	376	318
Other long-term liabilities	863	740
Total Liabilities	8,569	8,464
Commitments and contingencies (Note 18)
Equity
Common stock, $.01 par value; 500.0 shares authorized and 226.9 shares issued; 171.3 and 177.8 shares outstanding at December 31, 2024 and 2023, respectively	2	2
Additional paid-in capital	8,023	7,977
Treasury stock, at cost, 55.6 and 49.1 shares, at December 31, 2024 and 2023, respectively	(3,273)	(2,171)
Retained earnings	6,185	5,269
Accumulated other comprehensive loss	(846)	(590)
Total Westinghouse Air Brake Technologies Corporation shareholders’ equity	10,091	10,487
Noncontrolling interest	42	37
Total Equity	10,133	10,524
Total Liabilities and Equity	$ 18,702	$ 18,988

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Dec. 31, 2024	Dec. 31, 2023
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)	171,300,000	177,800,000
Treasury stock, shares (in shares)	55,600,000	49,100,000

CONSOLIDATED STATEMENTS OF INCO

CONSOLIDATED STATEMENTS OF INCOME - USD ($) shares in Millions, $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Net sales:
Total net sales	$ 10,387	$ 9,677	$ 8,362
Cost of sales:
Total cost of sales	(7,021)	(6,733)	(5,822)
Gross profit	3,366	2,944	2,540
Operating expenses:
Selling, general and administrative expenses	(1,248)	(1,139)	(1,029)
Engineering expenses	(206)	(218)	(209)
Amortization expense	(303)	(321)	(291)
Total operating expenses	(1,757)	(1,678)	(1,529)
Income from operations	1,609	1,266	1,011
Other income and expenses:
Interest expense, net	(201)	(218)	(186)
Other income, net	2	44	29
Income before income taxes	1,410	1,092	854
Income tax expense	(343)	(267)	(213)
Net income	1,067	825	641
Less: Net income attributable to noncontrolling interest	(11)	(10)	(8)
Net income attributable to Wabtec shareholders	$ 1,056	$ 815	$ 633
Basic
Net income attributable to Wabtec shareholders (in dollars per share)	$ 6.05	$ 4.54	$ 3.46
Diluted
Net income attributable to Wabtec shareholders (in dollars per share)	$ 6.04	$ 4.53	$ 3.46
Weighted average shares outstanding
Basic (in shares)	174.1	178.8	182.2
Diluted (in shares)	174.8	179.5	182.8
Product
Net sales:
Total net sales	$ 8,434	$ 7,647	$ 6,459
Cost of sales:
Total cost of sales	(5,918)	(5,581)	(4,791)
Services
Net sales:
Total net sales	1,953	2,030	1,903
Cost of sales:
Total cost of sales	$ (1,103)	$ (1,152)	$ (1,031)

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Statement of Comprehensive Income [Abstract]
Net income attributable to Wabtec shareholders	$ 1,056	$ 815	$ 633
Foreign currency translation (loss) gain	(277)	55	(200)
Unrealized gain (loss) on derivative contracts	14	22	(5)
Unrealized gain on pension benefit plans and post-retirement benefit plans	14	0	11
Other comprehensive (loss) income before tax	(249)	77	(194)
Income tax expense related to components of other comprehensive (loss) income	(7)	(6)	(1)
Other comprehensive (loss) income, net of tax	(256)	71	(195)
Comprehensive income attributable to Wabtec shareholders	$ 800	$ 886	$ 438

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Operating Activities
Net income	$ 1,067	$ 825	$ 641
Adjustments to reconcile net income to net cash provided by operations:
Depreciation and amortization	503	531	479
Stock-based compensation expense	66	47	41
Below market intangible amortization	(44)	(54)	(53)
Deferred income taxes	51	(58)	36
Net loss on disposal of property, plant and equipment	4	7	3
Changes in operating assets and liabilities, net of acquisitions and dispositions:
Accounts receivable and unbilled accounts receivable	(34)	(195)	(52)
Inventories	(117)	(58)	(368)
Accounts payable	70	(58)	306
Accrued income taxes	21	1	7
Current and noncurrent customer deposits	113	116	142
Other accrued liabilities	124	57	(36)
Other operating activities	10	40	(108)
Net cash provided by operating activities	1,834	1,201	1,038
Investing Activities
Purchase of property, plant and equipment	(207)	(186)	(149)
Acquisitions of businesses, net of cash acquired	(168)	(308)	(89)
Proceeds from dispositions of businesses, net of cash disposed	19	0	0
Proceeds from disposal of property, plant and equipment	13	2	3
Net cash used for investing activities	(343)	(492)	(235)
Financing Activities
Proceeds from debt, net of issuance costs	2,258	5,563	6,087
Payments of debt	(2,322)	(5,521)	(6,117)
Repurchase of stock	(1,097)	(409)	(473)
Cash dividends	(140)	(123)	(111)
Payment of contingent consideration on acquisitions	(42)	(112)	(101)
Payment of income tax withholding on share-based compensation	(25)	(16)	(7)
Distribution to noncontrolling interest	(6)	(17)	0
Other financing activities	3	2	14
Net cash used for financing activities	(1,371)	(633)	(708)
Effect of changes in currency exchange rates	(25)	3	(27)
Increase in cash	95	79	68
Cash, cash equivalents and restricted cash, beginning of year	620	541	473
Cash, cash equivalents and restricted cash, end of year	$ 715	$ 620	$ 541

CONSOLIDATED STATEMENTS OF SHAR

CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY - USD ($) shares in Millions, $ 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, 2021		226.9
Beginning balance at Dec. 31, 2021	$ 10,239	$ 2	$ 7,916	$ (1,306)	$ 4,055	$ (466)	$ 38
Beginning balance (in shares) at Dec. 31, 2021				(41.1)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Cash dividends	(111)				(111)
Proceeds from treasury stock issued from the exercise of stock options and other benefit plans, net of tax	6		(4)	$ 10
Proceeds from treasury stock issued from the exercise of stock options and other benefit plans, net of tax (in shares)				0.4
Stock based compensation	41		41
Net income	641				633		8
Other comprehensive (loss) income, net of tax	(195)					(195)
Stock repurchase (in shares)				(5)
Stock repurchase	(473)			$ (473)
Other	(1)						(1)
Ending balance (in shares) at Dec. 31, 2022		226.9
Ending balance at Dec. 31, 2022	10,147	$ 2	7,953	$ (1,769)	4,577	(661)	45
Ending balance (in shares) at Dec. 31, 2022				(45.7)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Cash dividends	(123)				(123)
Proceeds from treasury stock issued from the exercise of stock options and other benefit plans, net of tax	(13)		(23)	$ 10
Proceeds from treasury stock issued from the exercise of stock options and other benefit plans, net of tax (in shares)				0.5
Stock based compensation	47		47
Net income	825				815		10
Other comprehensive (loss) income, net of tax	71					71
Stock repurchase (in shares)				(3.9)
Stock repurchase	(412)			$ (412)
Distribution to noncontrolling interest	(17)						(17)
Other	$ (1)						(1)
Ending balance (in shares) at Dec. 31, 2023	177.8	226.9
Ending balance at Dec. 31, 2023	$ 10,524	$ 2	7,977	$ (2,171)	5,269	(590)	37
Ending balance (in shares) at Dec. 31, 2023	(49.1)			(49.1)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Cash dividends	$ (140)				(140)
Proceeds from treasury stock issued from the exercise of stock options and other benefit plans, net of tax	(15)		(20)	$ 5
Proceeds from treasury stock issued from the exercise of stock options and other benefit plans, net of tax (in shares)				0.4
Stock based compensation	66		66
Net income	1,067				1,056		11
Other comprehensive (loss) income, net of tax	(256)					(256)
Stock repurchase (in shares)				(6.9)
Stock repurchase	(1,107)			$ (1,107)
Distribution to noncontrolling interest	$ (6)						(6)
Ending balance (in shares) at Dec. 31, 2024	171.3	226.9
Ending balance at Dec. 31, 2024	$ 10,133	$ 2	$ 8,023	$ (3,273)	$ 6,185	$ (846)	$ 42
Ending balance (in shares) at Dec. 31, 2024	(55.6)			(55.6)

CONSOLIDATED STATEMENTS OF SH_2

CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY (Parenthetical) - $ / shares	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Statement of Stockholders' Equity [Abstract]
Cash dividends, per share (in dollars per share)	$ 0.80	$ 0.68	$ 0.60

BUSINESS

BUSINESS	12 Months Ended
	Dec. 31, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
BUSINESS	BUSINESS Wabtec is a global provider of value-added, technology-based locomotives, equipment, systems, and services for the freight rail and passenger transit industries as well as the mining, marine and industrial markets. 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 2024, approximately 53% of the Company’s net sales came from customers outside the United States.

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	12 Months Ended
	Dec. 31, 2024
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 eliminated in consolidation. Cash Equivalents and Restricted Cash Cash equivalents are highly liquid investments purchased with an original maturity of three months or less. Restricted cash includes cash held in escrow that is restricted as to withdrawal or usage. 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 $36 million and $31 million as of December 31, 2024 and 2023, respectively. Inventories Inventories are stated at the lower of cost or net realizable value. Cost is predominantly 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. The Company will perform either a qualitative or quantitative test for goodwill and indefinite-lived intangible assets, performing a quantitative test for each identified reporting unit in goodwill at least every three years. 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 when the Company has the ability to exercise significant influence, but not control, over the investee. Equity method investments are included in "Other noncurrent assets" on the Consolidated Balance Sheets and were $39 million and $36 million at December 31, 2024 and 2023, 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 recognized ratably over the requisite service period following the date of grant. Compensation expense for incentive stock units is updated as necessary if the number of units expected to vest changes based on the Company's performance. Financial Derivatives and 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. At times, the Company limits these risks through the use of derivatives such as cross-currency swaps, foreign currency forward contracts, interest rate hedges, 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. 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 transactions that are denominated in a currency other than an entity’s functional currency are charged or credited to earnings. Realized gains and losses related to foreign currency exchange are recognized in Other income, net on the Consolidated Statements of Income. Noncontrolling Interests In accordance with ASC 810, the Company has classified noncontrolling interests as equity on our Consolidated Balance Sheets. Net income attributable to noncontrolling interests was not material for the years ended December 31, 2024, 2023 and 2022. 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 method used for these agreements recognizes revenue based on our efforts to satisfy the performance obligation and includes costs of material and labor, both of which give an accurate representation of the progress made toward complete satisfaction of a particular performance obligation. The Company may also use the output method which recognizes revenue based on direct measurements of the value transferred to the customer. 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, 2024, the Company's remaining performance obligations were approximately $22.3 billion. The Company expects to recognize revenue of approximately 34% of remaining performance obligations over the next 12 months, with the remainder recognized thereafter. Revolving Receivables Program The Company utilizes a revolving facility to sell up to $350 million of certain receivables of the Company and certain of its subsidiaries (the "Originators"). The Originators contribute receivables to our bankruptcy-remote subsidiary, which sells the receivables to a financial institution on a recurring basis in exchange for cash equal to the gross receivables sold. 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, which could result in our gross receivables sold being higher or lower than customer collections remitted to the financial institution for any applicable period. The sold receivables are fully guaranteed by our bankruptcy-remote subsidiary, which holds additional receivables that are pledged as collateral under this facility. The Company has agreed to guarantee the performance of the Originators respective obligations under the revolving agreement. Neither the Company (except for the bankruptcy-remote consolidated subsidiary referenced above) nor the Originators guarantees the collectability of the receivables under the revolving agreements. At December 31, 2024, and 2023 the bankruptcy-remote subsidiary held receivables of $693 million and $674 million, respectively, which are included in the Company's Consolidated Balance Sheets. The receivables held by the bankruptcy-remote subsidiary collateralize the outstanding receivables sold, which was $20 million at December 31, 2023. There were no receivables outstanding under the facility at December 31, 2024. 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, 2024 or 2023 as the estimated expected credit losses on receivables sold is insignificant. Our maximum exposure to losses related to these receivables transferred is limited to the amount outstanding. The following table sets forth a summary of receivables sold and the resulting impact of net cash processed included in cash from operations: For the year ended In millions 2024 2023 2022 Gross receivables sold/cash proceeds received $ 926 $ 2,617 $ 1,761 Customer collections remitted to financial institution (946) (2,677) (1,701) Net cash proceeds (remitted) received included in cash from operations $ (20) $ (60) $ 60 During the fourth quarter of 2024, the revolving receivables program agreement was amended to allow us to request loans from the financial institution secured by the receivables held in the program, up to the $350 million limit. As a result, effective January 1, 2025 proceeds and repayments of loans under the program will be classified as Financing activities on our statement of cash flows and outstanding balances will be classified as debt on our balance sheet. 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 $52 million and $61 million at December 31, 2024 and 2023, respectively which are included in Other noncurrent assets on the Consolidated Balance Sheets. 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 rights and preferences, which would be superior to those of the common stock. At December 31, 2024 and 2023 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, as well as companies in the mining, marine and industrial markets. No one customer accounted for more than 10% of the Company’s consolidated net sales in the periods presented. 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 Recently Issued In December 2023, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures . The amendments in this update require entities to disclose on an annual basis specific categories within the income tax rate reconciliation and provide additional information for reconciling items that meet a quantitative threshold. The amendments in this update also require enhanced disaggregation of disclosures about income taxes paid and income tax expense, among other changes. The amendments in this update do not affect the recognition, measurement, or financial statement presentation of income taxes and is effective for Wabtec's annual reporting periods beginning January 1, 2025. The amendments require increased annual disclosures on current and comparable reporting periods presented in annual company filings. The resulting new annual disclosure requirements will be reflected in our 2025 report on Form 10-K. In November 2024, the FASB issued ASU 2024-03, Income Statement—Reporting Comprehensive Income—Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses. The amendments in this update require entities to disclose disaggregated information about certain costs and expenses in commonly presented income statement expense captions. The amendments will require increased interim and annual footnote disclosures either prospectively or retrospectively for reporting periods presented in interim and annual company filings. The amendments in this update do not affect the recognition, measurement, or financial statement presentation of income statement expenses and will be effective for Wabtec's annual reporting periods beginning January 1, 2027 and interim reporting periods beginning January 1, 2028. The Company is assessing the extent of the impact of the amendments on its future filings. Accounting Standards Recently Adopted In November 2023, the FASB issued ASU 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures . The amendments in this update are intended to improve reportable segment disclosure requirements, primarily through enhanced disclosures about significant segment expenses. In addition to the current requirements, the amendments specify additional information be provided about the chief operating decision maker ("CODM") as well as disaggregated expense categories, to the extent that the CODM utilizes such data in deciding how to allocate resources. The amendments in this update do not affect the recognition, measurement, or financial statement presentation of expenses, and were effective for Wabtec's annual reporting periods beginning January 1, 2024 and will be effective for interim reporting periods beginning January 1, 2025. The amendments require increased interim and annual disclosures on current and comparable reporting periods presented in annual and interim company filings. The new annual disclosure requirements are included in Note 19. Supply Chain Financing Program The Company has entered into supply chain financing arrangements with third-party financial institutions to provide our vendors with enhanced payment options while providing the Company with added working capital flexibility. The Company does not provide any guarantees under these arrangements, does not have an economic interest in our suppliers' voluntary participation, does not receive an economic benefit from the financial institutions, and no assets are pledged under the arrangements. The arrangements do not change the payable terms negotiated by the Company and our vendors, which range between net 45 and net 180 days, and does not result in a change in the classification of amounts due as Accounts payable in the Consolidated Balance Sheets. Suppliers utilized the program to accelerate receipt of payment from these financial institutions for $311 million and $305 million of the Company's outstanding Accounts payable The following table sets forth the changes in amounts due to financial institutions reflected in Accounts payable for the year ended December 31, 2024: December 31, In millions 2024 Obligations outstanding at the beginning of the year $ 305 Invoices confirmed during the year 723 Confirmed invoices paid during the year (717) Obligations outstanding at the end of the year $ 311

ACQUISITIONS

ACQUISITIONS	12 Months Ended
	Dec. 31, 2024
Business Combination, Asset Acquisition, and Joint Venture Formation [Abstract]
ACQUISITIONS	ACQUISITIONS During 2024, the Company made four strategic acquisitions for a combined purchase price of approximately $168 million, net of cash acquired. Two of the acquisitions are reported in the Transit Segment, one is reported in the Digital Intelligence product line of the Freight Segment and one is reported in the Components product line of the Freight Segment. Each of the acquisitions in 2024 are individually and collectively immaterial. On December 22, 2023, the Company purchased the remaining ownership shares of Lokomotiv Kurastyru Zauyty (LKZ), a locomotive manufacturing and assembly company located in Kazakhstan, at which time it became a wholly owned subsidiary of the Company. Prior to this purchase, Wabtec owned 50% of LKZ as a joint venture partner and accounted for its ownership interest as an equity method investment. Total purchase price for the remaining 50% interest was $111 million. As a result of the change in ownership interest and obtaining control of LKZ, Wabtec's previously held equity interest balance was remeasured to fair value, resulting in a gain of approximately $35 million recorded to Other income, net. Upon acquisition, Wabtec ceased accounting for the investment using the equity method and recognized 100% of LKZ's identifiable assets and liabilities, and LKZ's results of operations and cash flows are fully consolidated subsequent to the acquisition date. The following table summarizes the fair value of 100% of the LKZ assets acquired and liabilities assumed: In millions Assets acquired Cash and cash equivalents $ 30 Accounts receivable 6 Inventory 95 Property, plant and equipment 36 Goodwill 111 Other noncurrent assets 3 Total assets acquired 281 Liabilities assumed Current liabilities 21 Noncurrent liabilities 3 Total liabilities assumed 24 Net assets acquired $ 257 The fair values of the assets acquired and liabilities assumed were determined using the income, cost and market approaches. 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 of expanding our global operations 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 Equipment product line of the Freight Segment. 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. During the second quarter of 2023, the Company acquired L&M Radiator, Inc., a leading manufacturer of heavy-duty equipment radiators and heat exchangers for the mining sector, for a purchase price of approximately $245 million. The following table summarizes the fair value of the L&M Radiator, Inc. assets acquired and liabilities assumed: In millions Assets acquired Cash and cash equivalents $ 16 Accounts receivable 20 Inventory 26 Other current assets 1 Property, plant and equipment 43 Goodwill 106 Other intangible assets 89 Other noncurrent assets 1 Total assets acquired 302 Liabilities assumed Current liabilities 16 Noncurrent liabilities 41 Total liabilities assumed 57 Net assets acquired $ 245 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. Intangible assets acquired include customer relationships and acquired technology that are subject to amortization, and trade names that were assigned an indefinite life and are not subject to amortization. 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 Components product line of the Freight Segment. 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.

SUPPLEMENTAL CASH FLOW DISCLOSU

SUPPLEMENTAL CASH FLOW DISCLOSURES	12 Months Ended
	Dec. 31, 2024
Supplemental Cash Flow Elements [Abstract]
SUPPLEMENTAL CASH FLOW DISCLOSURES	SUPPLEMENTAL CASH FLOW DISCLOSURES Year Ended December 31, 2024 2023 2022 In millions Interest paid during the year $ 181 $ 210 $ 179 Income taxes paid during the year, net of amounts refunded $ 237 $ 233 $ 157 Business acquisitions: Fair value of assets acquired $ 257 $ 438 $ 128 Fair value of liabilities assumed 63 82 38 Cash paid 194 356 90 Less: Cash acquired (26) (48) (1) Net cash paid $ 168 $ 308 $ 89 At December 31, 2024 and December 31, 2023, Wabtec had restricted cash of $9 million and $5 million, respectively, primarily from cash in escrow related to acquisitions.

INVENTORIES

INVENTORIES	12 Months Ended
	Dec. 31, 2024
Inventory Disclosure [Abstract]
INVENTORIES	INVENTORIES The components of inventory, net of reserves, were: December 31, In millions 2024 2023 Raw materials $ 977 $ 1,062 Work-in-progress 587 463 Finished goods 750 759 Total inventories $ 2,314 $ 2,284

PROPERTY, PLANT & EQUIPMENT

PROPERTY, PLANT & EQUIPMENT	12 Months Ended
	Dec. 31, 2024
Property, Plant and Equipment [Abstract]
PROPERTY, PLANT & EQUIPMENT	PROPERTY, PLANT & EQUIPMENT The major classes of depreciable assets are as follows: December 31, In millions 2024 2023 Machinery and equipment $ 1,666 $ 1,600 Buildings and improvements 810 838 Land and improvements 106 100 Construction in progress 171 137 Property, plant and equipment 2,753 2,675 Less: accumulated depreciation (1,306) (1,190) Property, plant and equipment, net $ 1,447 $ 1,485 The estimated useful lives of property, plant and equipment are as follows: Years Land improvements 10 to 20 Building and improvements 15 to 40 Machinery and equipment 3 to 15 Depreciation expense was $196 million, $204 million, and $182 million for 2024, 2023 and 2022, respectively.

GOODWILL AND INTANGIBLE ASSETS

GOODWILL AND INTANGIBLE ASSETS	12 Months Ended
	Dec. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
GOODWILL AND INTANGIBLE ASSETS	GOODWILL AND INTANGIBLE ASSETS Goodwill is reviewed annually during the fourth quarter for impairment. The Company has identified three reporting units for purposes of testing goodwill for impairment. Two reporting units exist within the Freight segment (the "Freight" and "Components" reporting units) and the Transit segment is also a reporting unit. In 2024, management elected to first assess qualitative factors to determine whether a quantitative goodwill impairment test is necessary for the Components and Freight reporting units. During the assessment, management evaluated all relevant events and facts that may impact the fair value or carrying value of the reporting units' goodwill and concluded that it was not more likely than not that the estimated fair values were less than the carrying values; therefore, no further analysis was required. For the Transit reporting unit, management elected to proceed directly to the quantitative impairment test. The discounted cash flow method and the market approach were used to estimate the fair value of the Transit 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 the Transit 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 2024, the discounted cash flow method was given more weight compared to the market approach due to variables between the operations of the guideline companies used in the analysis and Wabtec's operations, such as different reporting unit sizes, growth and business characteristics. Each valuation resulted in a conclusion that the estimated fair value of the Transit reporting unit was in excess of its carrying value, and no impairment existed. The change in the carrying amount of goodwill by segment is as follows: In millions Freight Transit Total Balance at December 31, 2022 $ 7,067 $ 1,441 $ 8,508 Additions 215 — 215 Disposals (4) — (4) Foreign currency impact 16 45 61 Balance at December 31, 2023 $ 7,294 $ 1,486 $ 8,780 Additions 31 54 85 Disposals (5) (1) (6) Foreign currency impact (72) (77) (149) Balance at December 31, 2024 $ 7,248 $ 1,462 $ 8,710 The Company’s indefinite lived intangible assets are also reviewed annually during the fourth quarter for impairment. During 2024 and 2023, the Company proceeded directly to the quantitative impairment test for certain trade names with indefinite lives. Certain trade names that were associated with the Company’s current restructuring actions were tested and considered impaired. As such, for the years ended December 31, 2024 and 2023, approximately $6 million and $14 million, respectively, of amortization expense was recorded in "Amortization expense" on the Consolidated Statements of Income, primarily related to the Company's Portfolio Optimization. For the remaining trade names subject to the quantitative impairment test, the fair value exceeded each respective carrying value, resulting in a conclusion that no additional impairment existed. For trade names not subject to quantitative testing, the Company elected to perform a qualitative impairment assessment, resulting in a conclusion 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. The assessment of qualitative factors used in determining whether it is more likely than not that the fair value of a trade name is less than its carrying amount involves 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. As of December 31, 2024 and 2023, the Company’s trade names had a net carrying amount of $595 million and $612 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 had an original useful life of 5 years and has been fully amortized. Intangible assets of the Company, other than goodwill and trade names, that are considered definitive lived consist of the following: December 31, 2024 December 31, 2023 In millions Gross Carrying Amount Accumulated Amortization Net Carrying Amount Gross Carrying Amount Accumulated Amortization Net Carrying Amount Backlog $ 1,415 $ (629) $ 786 $ 1,431 $ (526) $ 905 Customer relationships 1,329 (480) 849 1,333 (431) 902 Acquired technology 1,318 (614) 704 1,283 (497) 786 Total $ 4,062 $ (1,723) $ 2,339 $ 4,047 $ (1,454) $ 2,593 The remaining weighted average useful lives of backlog, customer relationships and acquired technology were 7 years, 14 years and 6 years, respectively. The backlog intangible asset 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 $303 million, $321 million, and $291 million for the years ended December 31, 2024, 2023, and 2022, respectively. Estimated amortization expense for the five succeeding years is as follows (in millions): 2025 $ 277 2026 $ 272 2027 $ 267 2028 $ 267 2029 $ 266

CONTRACT ASSETS AND CONTRACT LI

CONTRACT ASSETS AND CONTRACT LIABILITIES	12 Months Ended
	Dec. 31, 2024
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 $170 million and $154 million at December 31, 2024 and 2023, respectively. Included in noncurrent contract assets are certain costs that are specifically related to a contract but do not directly contribute to the transfer of control of the tangible product being created, such as non-recurring engineering 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 $389 million and $174 million at December 31, 2024 and 2023, 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 or 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 $91 million and $104 million at December 31, 2024 and 2023, 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 2024 2023 Balance at beginning of year $ 678 $ 706 Recognized in current year 856 692 Reclassified to accounts receivable (801) (723) Acquisitions/adjustments 3 (2) Foreign currency impact (16) 5 Balance at end of year $ 720 $ 678 Contract Liabilities In millions 2024 2023 Balance at beginning of year $ 1,082 $ 956 Recognized in current year 1,562 1,380 Amounts in beginning balance reclassified to revenue (572) (665) Current year amounts reclassified to revenue (876) (593) Acquisitions 8 1 Foreign currency impact (31) 3 Balance at end of year $ 1,173 $ 1,082

LONG-TERM DEBT

LONG-TERM DEBT	12 Months Ended
	Dec. 31, 2024
Debt Disclosure [Abstract]
LONG-TERM DEBT	LONG-TERM DEBT Long-term debt consisted of the following: December 31, Effective 2024 2023 In millions Face Book Fair Value 1 Book Fair Value 1 2024 Credit Agreement: Term Loan 6.6 % $ 225 $ 224 $ 225 $ — $ — 2022 Credit Agreement: Revolving Credit Facility 8.0 % N/A — — — — Delayed Draw Term Loan 6.6 % $ 250 250 250 250 250 Senior Notes: 4.15% Senior Notes, due 2024 — — 725 722 3.20% Senior Notes, due 2025 3.4 % $ 500 500 496 499 484 3.45% Senior Notes, due 2026 3.5 % $ 750 750 732 749 718 1.25% Senior Notes (EUR), due 2027 1.5 % € 500 514 495 547 509 4.70% Senior Notes, due 2028 4.8 % $ 1,250 1,246 1,239 1,245 1,237 5.611% Senior Notes, due 2034 5.7 % $ 500 496 507 — — Other Borrowings — — 54 57 Total 3,980 3,944 4,069 3,977 Less: current portion (500) (496) (781) (779) Long-term portion $ 3,480 $ 3,448 $ 3,288 $ 3,198 1. See Note 17 for information on the fair value measurement of the Company's long-term debt. Variances between Face Value and Book Value are the result of unamortized discounts and debt issuance costs as well as foreign exchange on the Euro Notes. Amortization of discounts and debt issuance fees are included in the calculation of Effective Interest Rate. The Company borrows and repays against the Revolving Credit Facility and an uncommitted money market line 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, 2024, the annual repayment requirements for debt obligations are as follows: In millions 2025 $ 500 2026 750 2027 770 2028 1,250 2029 225 Thereafter 500 Total $ 3,995 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, 2024 and 2023, the Company had total unamortized debt issuance costs and discounts of $15 million. Credit Agreements 2024 Credit Agreement On March 14, 2024, the Company entered into a new stand-alone credit agreement (the "2024 Credit Agreement") for a term loan of $225 million. Borrowings under the 2024 Credit Agreement bear interest at a base rate Election Request. The term loan issued under the 2024 Credit Agreement will mature on March 14, 2029. The obligations of the Company under the 2024 Credit Agreement are unsecured and have been guaranteed by certain of the Company’s subsidiari es. The agreement contains affirmative, negative and financial covenants, and events of default customary for facilities of this type. Under the 2024 Credit Agreement, the Company has agreed to maintain an Interest Coverage Ratio of at least 3.0 to 1.0, and a Leverage Ratio not to exceed 3.5 to 1.0. The Interest Coverage Ratio is calculated using an earnings metric as defined in the agreement compared to Interest Expense for the four quarters then ended. The Leverage Ratio is defined as net debt (total debt, net of up to $300 million of unrestricted cash) as of the last day of such fiscal quarter to the defined earnings metric for the four quarters then ended. Additionally, the Company may effect an increase in the maximum Leverage Ratio in contemplation of a Material Acquisition. All terms are as defined in the 2024 Credit Agreement. 2022 Credit Agreement On August 15, 2022, the Company entered into a new unsecured credit agreement (the "2022 Credit Agreement"). The 2022 Credit Agreement provides for borrowings consisting of (i) a multi-currency revolving credit facility, providing for an equivalent in U.S. dollars of up to $1.5 billion (the “Revolving Credit Facility”) and (ii) a $250 million delayed draw term loan facility (the “Delayed Draw Term Loan”), all pursuant to the terms and conditions of the 2022 Credit Agreement. The 2022 Credit Agreement allows the Company to request, at prevailing market rates, an aggregate amount not to exceed $750 million, (a) increases to the borrowing commitments under the Revolving Credit Facility and/or (b) new incremental term loan commitments. The agreement contains affirmative, negative and financial covenants, and events of default customary for facilities of this type. The Revolving Credit Facility matures on August 15, 2027. The Delayed Draw Term Loan was fully drawn during the third quarter of 2023, and the proceeds were utilized to redeem the 4.375% Senior Notes, due 2023. Borrowings under the Delayed Draw Term Loan will mature on August 15, 2027. Amounts borrowed and repaid under the Delayed Draw Term Loan may not be reborrowed. The applicable interest rate for borrowings under the 2022 Credit Agreement includes a base rate Under the 2022 Credit Agreement, the Company has agreed to maintain an Interest Coverage Ratio of at least 3.0 to 1.0, and a Leverage Ratio not to exceed 3.5 to 1.0. The Interest Coverage Ratio is calculated using an earnings metric as defined in the agreement compared to Interest Expense for the four quarters then ended. The Leverage Ratio is defined as net debt (total debt, net of up to $300 million of unrestricted cash) as of the last day of such fiscal quarter to the defined earnings metric for the four quarters then ended. Additionally, the Company may effect an increase in the maximum Leverage Ratio in contemplation of a Material Acquisition. All terms are as defined in the 2022 Credit Agreement. The following table presents availability under the 2022 Credit Agreement as of December 31, 2024: In millions Revolving Credit Facility Delayed Draw Term Loan Total Maximum Availability $ 1,500 $ 250 $ 1,750 Outstanding Borrowings — (250) (250) Letters of Credit Under Credit Agreement — — — Current Availability $ 1,500 $ — $ 1,500 The Company was in compliance with all financial covenants in the 2022 Credit Agreement and the 2024 Credit Agreement as of December 31, 2024. Intra-Quarter Uncommitted Money Market Line Credit Agreement During the third quarter of 2024, the Company entered into an uncommitted bilateral money market line credit agreement which provides an aggregate borrowing capacity of $150 million, for general business purposes and working capital needs within a quarter. Senior Notes The Company or its subsidiaries may issue senior notes from time to time. These notes are comprised of our 4.15% Senior Notes which matured in 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), 4.70% Senior Notes due 2028 (the "2028 Notes") and 5.611% Senior Notes due 2034 (the "2034 Notes"). The 2024 Notes, 2025 Notes, 2026 Notes, 2028 Notes, and 2034 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 March 11, 2024, the Company issued $500 million of 5.611% Senior Notes due in 2034 (2034 Notes). The 2034 Notes were issued at 100% of face value and the Company recognized approximately $5 million of total deferred financing costs. Interest on the 2034 Notes will accrue at a rate of 5.611% per year, payable semi-annually on March 11 and September 11 of each year, commencing September 11, 2024. The 2034 Notes will mature on March 11, 2034. Proceeds from the 2034 Notes, combined with the proceeds from the term loan under the 2024 Credit Agreement and cash on hand, were utilized to repay the outstanding amount of 2024 Notes at maturity. Beginning September 15, 2023, the effective interest rates for the 2024 Notes and the 2028 Notes were each reduced by 0.25% due to a favorable change in Wabtec's corporate credit rating and the rating of the aforementioned notes. During the second quarter of 2022, the Company redeemed $25 million of principal from the 2024 Notes plus a premium and the related accrued interest. 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 2022 Credit Agreement. The Euro Notes were issued by Wabtec Netherlands and are fully and unconditionally guaranteed by the Company. 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 overdraft 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, 2024
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. and international employees, primarily in the United Kingdom, Canada and Germany, 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 2024 2023 2024 2023 Change in projected benefit obligation Obligation at beginning of year $ (55) $ (29) $ (251) $ (236) Service cost — — (3) (3) Interest cost (3) (2) (11) (11) Employee contributions — — (1) (1) Plan settlements, curtailments and amendments — 1 1 1 Benefits paid 4 4 13 14 Acquisition — (29) — — Actuarial gain (loss) 2 — 17 (5) Effect of currency rate changes — — 10 (10) Obligation at end of year $ (52) $ (55) $ (225) $ (251) Change in plan assets Fair value of plan assets at beginning of year $ 55 $ 31 $ 211 $ 201 Actual return on plan assets 1 2 10 10 Employer contributions — — 5 6 Employee contributions — — 1 1 Benefits paid (4) (4) (13) (14) Settlements and other — — (1) (1) Acquisition — 26 — — Effect of currency rate changes — — (9) 8 Fair value of plan assets at end of year $ 52 $ 55 $ 204 $ 211 Funded status Fair value of plan assets $ 52 $ 55 $ 204 $ 211 Benefit obligations (52) (55) (225) (251) Funded status $ — $ — $ (21) $ (40) Amounts recognized in the statement of financial position consist of: Noncurrent assets $ — $ — $ 29 $ 13 Current liabilities — — (2) (2) Noncurrent liabilities — — (48) (51) Net amount recognized $ — $ — $ (21) $ (40) Amounts recognized in Accumulated other comprehensive loss, before tax at December 31, consist of: Prior service cost — — (1) (1) Net actuarial loss (13) (14) (44) (64) Net amount recognized $ (13) $ (14) $ (45) $ (65) The aggregate accumulated benefit obligation for the U.S. pension plans was $52 million and $55 million as of December 31, 2024 and 2023, respectively. The aggregate accumulated benefit obligation for the international pension plans was $214 million and $241 million as of December 31, 2024 and 2023, respectively. International In millions 2024 2023 Information for pension plans with accumulated benefit obligations in excess of Plan assets: Projected benefit obligation $ (74) $ (185) Accumulated benefit obligation (65) (178) Fair value of plan assets 25 133 Information for pension plans with projected benefit obligations in excess of plan assets: Projected benefit obligation $ (79) $ (194) Accumulated benefit obligation (69) (185) Fair value of plan assets 29 141 Components of Net Periodic Benefit Costs U.S. International In millions 2024 2023 2022 2024 2023 2022 Service cost $ — $ — $ — $ 3 $ 3 $ 3 Interest cost 3 2 1 11 11 6 Expected return on plan assets (3) (2) (1) (11) (10) (12) Amortization of net loss — — 1 3 3 2 Settlement and curtailment gains recognized — (1) — — — (1) Net periodic benefit (income) cost $ — $ (1) $ 1 $ 6 $ 7 $ (2) 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 income, net on the Consolidated Statements of Income. Service cost is considered a component of employee compensation and is recorded within Cost of sales or Selling, general and administrative expenses depending on the plan participants relative job function. Amounts recognized in Other comprehensive income during 2024 for other changes in plan assets and benefit obligations are not material. 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 2025 are not material. 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 2024 2023 2022 2024 2023 2022 Discount rate 5.70 % 5.25 % 5.58 % 4.68 % 4.38 % 4.77 % Expected return on plan assets 4.50 % 3.80 % 3.80 % 5.53 % 5.09 % 4.25 % Rate of compensation increase 3.00 % 3.00 % 3.00 % 2.92 % 2.88 % 2.78 % 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. 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 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). Plan assets by asset category at December 31, 2024 and 2023 are as follows: U.S. International In millions 2024 2023 2024 2023 Pension Plan Assets Equity security funds $ 8 $ 3 $ 59 $ 56 Debt security funds 42 35 118 129 Insurance contracts — — 11 12 Cash and cash equivalents and other 2 17 16 14 Fair value of plan assets $ 52 $ 55 $ 204 $ 211 The U.S. plan has a target asset allocation of 15% equity securities and 85% debt securities. The International plan has a target asset allocation of 12% equity securities, 24% debt securities and 64% 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 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. 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, 2024 In millions NAV Level 1 Level 2 Level 3 Total US: Equity $ — $ 8 $ — $ — $ 8 Debt Securities — 9 33 — 42 Cash and cash equivalents — 2 — — 2 International: Equity 6 14 39 — 59 Debt Securities — 3 115 — 118 Insurance Contracts — — 3 8 11 Cash and cash equivalents and other — 6 10 — 16 Total $ 6 $ 42 $ 200 $ 8 $ 256 December 31, 2023 In millions NAV Level 1 Level 2 Level 3 Total US: Equity $ — $ 3 $ — $ — $ 3 Debt Securities — 5 30 — 35 Cash and cash equivalents — 17 — — 17 International: Equity 6 14 36 — 56 Debt Securities — 3 126 — 129 Insurance Contracts — — 4 8 12 Cash and cash equivalents and other — 6 8 — 14 Total $ 6 $ 48 $ 204 $ 8 $ 266 There were no material changes to the Level 3 assets during 2024 and 2023. Cash Flows The Company’s funding methods are based on governmental requirements and differ from those methods used to recognize pension expense. The Company does not expect material contributions to the international pension plans and does not expect to make a contribution to the U.S. pension plan during 2025. Benefit payments expected to be paid to plan participants are as follows: In millions U.S. International Year ended December 31, 2025 $ 4 $ 15 2026 $ 4 $ 15 2027 $ 4 $ 16 2028 $ 4 $ 16 2029 $ 4 $ 17 2030 through 2034 $ 20 $ 86 Defined Contribution Plans The Company participates in certain defined contribution plans. Costs of approximately $65 million were recognized during 2024 and $60 million and $55 million was recognized during 2023 and 2022, respectively. The 401(k) savings plan is a participant directed defined contribution plan that holds shares of the Company’s stock as one of the investment options. At December 31, 2024 and 2023, the plan held on behalf of its participants approximately 329,000 shares with a market value of $62 million, and approximately 355,000 shares with a market value of $45 million, respectively.

INCOME TAXES

INCOME TAXES	12 Months Ended
	Dec. 31, 2024
Income Tax Disclosure [Abstract]
INCOME TAXES	INCOME TAXES The Company is responsible for filing consolidated U.S. federal, 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 2024 2023 2022 Domestic $ 782 $ 506 $ 372 Foreign 628 586 482 Income before income taxes $ 1,410 $ 1,092 $ 854 The consolidated provision for income taxes included in the Consolidated Statements of Income consisted of the following: For the year ended In millions 2024 2023 2022 Current tax expense Federal $ 106 $ 148 $ 37 State 26 29 3 Foreign 160 148 137 292 325 177 Deferred tax expense (benefit) Federal 26 (50) 29 State 9 1 — Foreign 16 (9) 7 51 (58) 36 Total provision $ 343 $ 267 $ 213 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 2024 2023 2022 U.S. federal statutory rate 21.0 % 21.0 % 21.0 % State taxes 1.8 1.5 2.0 Foreign 3.1 2.0 3.8 Research and development credit (0.7) (0.6) (0.8) Non-taxable gain on acquisition — (0.8) — U.S. net operating loss carryback (1.0) — — Changes in valuation allowances (0.4) 1.0 (2.0) U.S. tax reform provision 0.5 0.6 0.1 Other, net — (0.2) 0.9 Effective rate 24.3 % 24.5 % 25.0 % The decrease in effective tax rate from 2023 to 2024 was primarily due to changes in valuation allowances and audit closures, partially offset by a change in the jurisdictional mix of earnings and the non-recurrence of the non-taxable gain generated on the acquisition of LKZ in 2023. The decrease in effective tax rate from 2022 to 2023 was primarily due to a change in mix of foreign earnings, changes in valuation allowances, and the non-taxable gain generated on the acquisition of LKZ. On August 16, 2022, the Inflation Reduction Act of 2022 was signed into law. This act includes a new book minimum tax on certain large corporations and an excise tax on corporate stock buybacks among other provisions. At this time, the Company does not believe the act will have a material impact on our consolidated financial position, results of operations, or cash flows. Components of deferred tax assets and liabilities were as follows: December 31, In millions 2024 2023 Deferred income tax assets: Accrued expenses and reserves $ 38 $ 50 Warranty reserve 53 49 Deferred compensation/employee benefits 92 77 Right-of-use assets 74 78 Pension and postretirement obligations 13 16 Inventory 39 49 Deferred revenue 93 84 Net operating loss carry forwards 106 124 Other 50 51 Gross deferred income tax assets 558 578 Less: Valuation allowance (52) (58) Total deferred income tax assets 506 520 Deferred income tax liabilities: Property, plant & equipment 64 64 Right-of-use liabilities 71 75 Intangible assets 663 610 Total deferred income tax liabilities 798 749 Net deferred income tax liability $ 292 $ 229 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, 2024, the valuation allowance for certain deferred tax asset carryforwards was $52 million, primarily in the United States, South Africa, China and the Netherlands. The decrease in valuation allowances in 2024 is primarily related to the sale of a business. The Company has net operating loss carry-forwards in the amount of $373 million, of which $141 million are indefinite lived, $103 million expire within ten years and $129 million expire in various periods between December 31, 2035 to December 31, 2044. As of December 31, 2024, the liability for income taxes associated with unrecognized tax benefits was $19 million, of which $18 million, if recognized, would favorably affect the Company’s effective income tax rate. As of December 31, 2023, the liability for income taxes associated with unrecognized tax benefits was $40 million, of which $27 million, if recognized, would favorably affect the Company’s effective income tax rate. A reconciliation of the beginning and ending amount of the gross liability for income taxes associated with unrecognized tax benefits follows: In millions 2024 2023 2022 Balance at beginning of year $ 40 $ 33 $ 32 Unrecognized tax benefits in prior periods 3 13 1 Audit settlement during year (22) (5) — Expiration of audit statute of limitations (2) (1) — Balance at end of year $ 19 $ 40 $ 33 The Company includes interest and penalties related to unrecognized tax benefits in income tax expense. As of December 31, 2024 and 2023, the total interest and penalties accrued was approximately $13 million. An audit of the Company’s U.S. federal income tax return for the year 2017 is ongoing and select state and non-U.S. income tax audits are also underway. With limited exception, the Company is no longer subject to examination by various U.S. and foreign taxing authorities for years before 2019. At this time, the Company believes that it is reasonably possible that unrecognized tax benefits of approximately $14 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, 2024
Earnings Per Share [Abstract]
EARNINGS PER SHARE	EARNINGS PER SHARE 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 excludes the income attributable to the non-vested restricted stock from the numerator, which results in approximately 0.3% of Net income attributable to Wabtec shareholders being allocated to non-vested restricted stock in all periods presented. Additionally, the dilutive impact of the assumed conversion of non-vested restricted stock is excluded from the denominator of the diluted weighted average shares outstanding. The computation of basic and diluted earnings per common share for Net income attributable to Wabtec shareholders is as follows: For the year ended In millions, except per share data 2024 2023 2022 Numerator Net income attributable to Wabtec shareholders $ 1,056 $ 815 $ 633 Less: Net income allocated to non-vested restricted stock (3) (2) (2) Numerator for basic and diluted earnings per common share $ 1,053 $ 813 $ 631 Denominator Weighted average shares outstanding - basic 174.1 178.8 182.2 Effect of dilutive securities: Assumed conversion of dilutive stock-based compensation plans excluding non-vested restricted stock 0.3 0.4 0.4 Assumed conversion of dilutive non-vested restricted stock 0.4 0.3 0.2 Weighted average shares outstanding - diluted 174.8 179.5 182.8 Earnings per common share attributable to Wabtec shareholders Basic $ 6.05 $ 4.54 $ 3.46 Diluted $ 6.04 $ 4.53 $ 3.46

STOCK-BASED COMPENSATION PLANS

STOCK-BASED COMPENSATION PLANS	12 Months Ended
	Dec. 31, 2024
Share-Based Payment Arrangement [Abstract]
STOCK-BASED COMPENSATION PLANS	STOCK-BASED COMPENSATION PLANS As of December 31, 2024, 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, 2024, the number of shares available for future grants under the 2011 Plan was approximately 4.4 million shares. 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 1.1 million 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: 9,320 shares for 2024; 14,856 shares for 2023; and 14,269 shares for 2022. The total number of shares issued under the Directors Plan as of December 31, 2024 was approximately 1.0 million shares. Stock-based compensation expense for all of the plans was $85 million, $59 million and $49 million for the years ended December 31, 2024, 2023 and 2022, respectively. Associated tax benefits related to the stock-based compensation plans for the years ended December 31, 2024, 2023 and 2022 were not material. Included in the stock-based compensation expense for 2024 above is $37 million of expense related to incentive stock units, $28 million of expense related to non-vested restricted stock, $19 million related to restricted stock units, and $1 million related to units issued for Directors’ fees. At December 31, 2024, unamortized compensation expense related to those non-vested restricted shares and incentive stock units expected to vest totaled $79 million and will be recognized over a weighted period of 1.4 years. Stock Options Stock options are granted to eligible employees and directors at 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. There were no stock options granted in the years ended December 31, 2024, 2023 and 2022. At December 31, 2024, there were 172,196 shares issuable pursuant to exercisable stock options. Restricted Stock, Restricted Stock Units and Incentive Stock As provided for under the 2011 Plan and 2000 Plan, eligible employees are granted restricted stock that generally vests over three years from the date of grant. Under the Directors Plan, restricted stock awards vest one year from the date of grant. The restricted stock units are liability-classified equity awards as they can be settled in cash. In addition, the Company has issued incentive stock units to eligible employees that vest upon attainment of certain cumulative three-year performance goals, including a Relative Total Stockholder Return ("RTSR") modifier. The RTSR can increase or decrease the payment by 10% to 20% depending on the plan year. Significant judgments and estimates are used in determining the estimated three-year performance, which is then used to estimate the total shares expected to vest over the three year vesting cycle and corresponding expense based on the grant date fair value of the award. When determining the estimated three-year performance, the Company utilizes a combination of historical actual results, budgeted results and forecasts. Upon the initial grant of a performance cycle, the Company estimates the three-year performance at 100%. Quarterly, the Company reviews and updates performance estimates based on actual performance results and current projections. 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, 2024, the Company estimates that it will achieve approximately 184%, 181% and 200% for the incentive stock awards expected to vest, inclusive of the RTSR modifier, based on the estimated performance for the three year periods ending December 31, 2024, 2025, and 2026, 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. Expense for incentive stock units is updated as necessary based on the Company's performance. The following table summarizes the restricted stock and incentive stock units activity and related information for the years ended December 31: Restricted Incentive Weighted Outstanding at December 31, 2021 507,698 607,101 $ 78.06 Granted 460,841 176,657 $ 91.19 Vested (234,597) (43,039) $ 75.14 Adjustment for incentive stock awards expected to vest — 45,301 $ 84.55 Canceled (44,522) (41,176) $ 76.84 Outstanding at December 31, 2022 689,420 744,844 $ 84.73 Granted 368,209 192,751 $ 104.70 Vested (262,339) (265,678) $ 81.00 Adjustment for incentive stock awards expected to vest — 31,011 $ 88.02 Canceled (34,721) (10,196) $ 93.44 Outstanding at December 31, 2023 760,569 692,732 $ 93.65 Granted 310,461 193,661 $ 142.55 Vested (296,463) (298,756) $ 87.23 Adjustment for incentive stock awards expected to vest — 313,519 $ 118.53 Canceled (46,531) (24,092) $ 105.98 Outstanding at December 31, 2024 728,036 877,064 $ 115.71

ACCUMULATED OTHER COMPREHENSIVE

ACCUMULATED OTHER COMPREHENSIVE LOSS	12 Months Ended
	Dec. 31, 2024
Equity [Abstract]
ACCUMULATED OTHER COMPREHENSIVE LOSS	ACCUMULATED OTHER COMPREHENSIVE LOSS Comprehensive income (loss) comprises both Net income and the Other Comprehensive (loss) income resulting from 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, 2024, 2023, and 2022 are as follows: In millions Foreign currency translation Derivative contracts Pension and post retirement benefit plans Total Balance at December 31, 2021 $ (396) $ (5) $ (65) $ (466) Other comprehensive (loss) income before reclassifications (200) (4) 7 (197) Amounts reclassified from Accumulated other comprehensive loss — — 2 2 Other comprehensive (loss) income, net (200) (4) 9 (195) Balance at December 31, 2022 $ (596) $ (9) $ (56) $ (661) Other comprehensive income (loss) before reclassifications 55 16 (2) 69 Amounts reclassified from Accumulated other comprehensive loss — — 2 2 Other comprehensive income, net 55 16 — 71 Balance at December 31, 2023 $ (541) $ 7 $ (56) $ (590) Other comprehensive (loss) income before reclassifications (277) 10 13 (254) Amounts reclassified from Accumulated other comprehensive loss — — (2) (2) Other comprehensive (loss) income, net (277) 10 11 (256) Balance at December 31, 2024 $ (818) $ 17 $ (45) $ (846) 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, 2024
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, 2024, 2023, and 2022 was $71 million, $64 million, and $60 million, respectively. During 2024 and 2023, new operating leases of $76 million and $37 million, respectively, were added during the year. 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. Wabtec does not have material financing leases, short-term or variable leases or sublease income. Scheduled payments of operating lease liabilities are as follows: In millions Operating Leases 2025 $ 63 2026 56 2027 45 2028 37 2029 30 Thereafter 114 Total lease payments 345 Less: Present value discount (37) Present value lease liabilities $ 308 The following table summarizes the remaining lease term and discount rate assumptions used to develop the present value of operating lease liabilities: December 31, 2024 December 31, 2023 Weighted-average remaining lease term (years) 7.9 7.8 Weighted-average discount rate 2.9 % 2.4 %

WARRANTIES

WARRANTIES	12 Months Ended
	Dec. 31, 2024
Product Warranties Disclosures [Abstract]
WARRANTIES	WARRANTIES The following table reconciles the changes in the Company’s product warranty reserve as follows: In millions 2024 2023 Balance at beginning of year $ 248 $ 242 Warranty expense 117 95 Warranty claim payments (85) (93) Acquisitions 1 — Foreign currency impact/other (7) 4 Balance at end of year $ 274 $ 248

FAIR VALUE MEASUREMENT AND DERI

FAIR VALUE MEASUREMENT AND DERIVATIVE INSTRUMENTS	12 Months Ended
	Dec. 31, 2024
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, cash equivalents and restricted cash 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, cash equivalents and restricted cash approximated the carrying value at December 31, 2024 and 2023. The Senior Notes are considered Level 2 based on the fair value valuation hierarchy. Contingent consideration related to the GE Transportation acquisition was considered Level 3 based on the fair value valuation hierarchy. At December 31, 2023, $42 million was classified as "Other accrued liabilities" on the Company's Consolidated Balance Sheets, which approximates fair value. There was no contingent consideration outstanding at December 31, 2024. 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, 2024, 2023 and 2022, 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, Brazilian real, Kazakhstani tenge, 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 gains and losses related to these contracts were not material for the years ended December 31, 2024, 2023 and 2022. These contracts typically mature within one year. Interest Rate Risk The Company may use interest rate hedge contracts on certain investing and borrowing transactions to manage its net exposure to interest rate changes and to manage 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. During the first quarter of 2024, the Company utilized all outstanding interest rate hedge contracts to help manage interest expense for the 2034 Notes issued in the first quarter of 2024. In the third quarter of 2024, the Company entered into new interest rate hedge contracts to manage interest rate risk for a portion of future expected debt transactions. For the years ended December 31, 2024, 2023 and 2022, the amounts reclassified into income were not material. Commodity Price Risk The Company may use commodity forward swaps to manage its exposure to commodity price changes and to reduce its overall cost of manufacturing. For the years ended December 31, 2024, 2023 and 2022, the amounts reclassified into income were not material. 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, 2024, 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 $ 5 $ 1 $ 387 $ 153 Other current liabilities 2 (4) (1) 182 44 Interest Rate Contracts Other current assets 2 2 — 40 — Total $ 3 $ — $ 609 $ 197 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, 2023, 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 $ 6 $ 3 $ 319 $ 110 Other current liabilities 2 (12) (3) 655 200 Interest Rate Contracts Other current assets 2 10 — 250 — Total $ 4 $ — $ 1,224 $ 310

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	12 Months Ended
	Dec. 31, 2024
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. During the third quarter of 2023, a competitor of the Company, Progress Rail (“Progress”), which is a Caterpillar Inc. company, sued the Company in the U.S. District Court for the District of Delaware asserting antitrust, breach of contract, unfair competition law, and misrepresentation claims. The complaint challenges the Wabtec-GE Transportation merger and contends that since the merger, Wabtec has unlawfully monopolized the markets for long-haul freight locomotives, Tier IV long-haul freight locomotives, and energy management systems by, among other things, failing to ensure that Progress’ products are interoperable with Wabtec’s locomotives and cab electronics. Progress seeks an order requiring Wabtec to divest GE Transportation, unspecified treble damages for its alleged lost profits from reduced sales of locomotive and cab systems, and attorneys’ fees and costs. It also asks the court to enjoin Wabtec from engaging in the conduct and require the Company to comply with its agreements with Progress. Wabtec intends to vigorously defend itself against this lawsuit and believes that it has meritorious defenses to the claims asserted by Progress. The case is still at an early stage; Wabtec filed a motion to dismiss, briefing on this motion was completed in early 2024. The Court has not yet issued a decision on Wabtec’s motion. 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 were 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 claim 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 claim against RTD proceeded to trial on September 21, 2020. On February 10, 2023, the court issued a decision in favor of RTD, denying DTC's damages claim. DTC filed an appeal to the Colorado Court of Appeals; on May 13, 2024, the Court of Appeals upheld the trial Court’s decision in favor of RTD; DTC filed a Writ of Certiorari with the Colorado Supreme Court seeking another appeal; the Writ was denied on February 4, 2025. DTC has informally indicated that they intend to send an updated claim notice to Xorail. 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, 2024
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. The Company’s business segments are: Freight Segment builds, rebuilds, upgrades, and overhauls locomotives, services locomotives and freight cars, and provides a range of component and digital solutions for customers in the freight and transit rail, mining, and marine industries. It also manufactures and services components for new and existing freight cars and locomotives, supplies railway electronics, positive train control equipment, signal design and engineering services, maintenance of way, and provides heat exchange and cooling systems for locomotives and power generation equipment. Customers include large, publicly traded railroads, leasing companies, manufacturers of original equipment such as locomotives and freight cars, and utilities, and also serves companies in the mining, marine, and industrial markets. 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 subway cars. Customers include public transit authorities and municipalities, leasing companies, manufacturers of passenger transit vehicles and buses, and companies in the electrical generation, distribution, and charging industries. Wabtec’s chief operating decision maker (CODM) is the Company’s Chief Executive Officer, Rafael Santana. Mr. Santana utilizes Income (loss) from operations as the primary reported measure of segment profit or loss in assessing segment performance and deciding how to allocate resources. For both of the Company’s segments, the CODM uses segment Income (loss) from operations to make operational and personnel related decisions across the business. The CODM considers actual, budgeted and forecasted Income (loss) from operations on a monthly basis for evaluating the performance of each segment and making decisions about allocating capital and other resources to each segment. Additionally, Gross margin is used by the CODM as a secondary measure of segment profit or loss in assessing segment performance and deciding how to allocate resources. For both of the Company’s segments, the CODM uses segment Gross margin to make commercial and operational related decisions across the business. 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 certain intersegment transactions, interest income and expense and other unallocated charges. Segment assets for the Freight and Transit Segment include assets directly utilized for segment operations, as well as the related goodwill and intangible assets. Corporate segment assets include cash, cash equivalents, and restricted cash, equity method investment assets, certain tax assets, receivables held by our bankruptcy-remote facility, pension assets, corporate headquarters' assets and other asset balances that are managed outside of operating segments. During 2024, management changed the presentation of segment assets below to show intercompany balances eliminated. As such, segment assets for 2023 have been updated to conform to the current period presentation. Cost of sales for both segments represents costs directly related to manufacturing products and providing services. Primary costs include raw materials, direct labor, overhead, shipping and handling, warehousing, and the depreciation of manufacturing, warehousing and distribution facilities. Selling, general and administrative expenses for both segments represent costs incurred in managing the business, including salary, benefits, professional fees and operating costs associated with each segment’s non-manufacturing activities. The amounts of depreciation and amortization disclosed by reportable segment are included within their respective segment expense captions, such as Cost of sales, Selling, general & administrative expenses and Amortization expense. During 2024, Company management determined that certain parts of the business would be better aligned with management oversight in different product lines. These changes were immaterial to the individual product lines and segments affected, and historical amounts have been reclassified to conform to the current period presentation. Segment financial information for 2024 is as follows: In millions Freight Segment Transit Segment Corporate Activities and Elimination Total Sales to external customers $ 7,468 $ 2,919 $ — $ 10,387 Cost of sales (4,945) (2,076) — (7,021) Gross profit $ 2,523 $ 843 $ — $ 3,366 Gross margin 33.8 % 28.9 % Selling, general & administrative expenses $ (664) $ (433) $ (151) $ (1,248) Engineering expenses (164) (42) — (206) Amortization expense (273) (30) — (303) Income (loss) from operations 1,422 338 (151) 1,609 Interest expense and other, net — — (199) (199) Income (loss) before income taxes $ 1,422 $ 338 $ (350) $ 1,410 Intersegment sales/(elimination) $ 48 $ 59 $ (107) $ — Depreciation and amortization $ 413 $ 73 $ 17 $ 503 Capital expenditures $ 140 $ 62 $ 5 $ 207 Segment assets $ 13,176 $ 3,861 $ 1,665 $ 18,702 Segment financial information for 2023 is as follows: In millions Freight Segment Transit Segment Corporate Activities and Elimination Total Sales to external customers $ 6,923 $ 2,754 $ — $ 9,677 Cost of sales (4,742) (1,991) — (6,733) Gross profit $ 2,181 $ 763 $ — $ 2,944 Gross margin 31.5 % 27.7 % Selling, general & administrative expenses $ (637) $ (408) $ (94) $ (1,139) Engineering expenses (180) (38) — (218) Amortization expense (299) (22) — (321) Income (loss) from operations 1,065 295 (94) 1,266 Interest expense and other, net — — (174) (174) Income (loss) before income taxes $ 1,065 $ 295 $ (268) $ 1,092 Intersegment sales/(elimination) $ 58 $ 42 $ (100) $ — Depreciation and amortization $ 442 $ 72 $ 17 $ 531 Capital expenditures $ 119 $ 58 $ 9 $ 186 Segment assets $ 13,417 $ 3,944 $ 1,627 $ 18,988 Segment financial information for 2022 is as follows: In millions Freight Segment Transit Segment Corporate Activities and Elimination Total Sales to external customers $ 5,979 $ 2,383 $ — $ 8,362 Cost of sales (4,090) (1,732) — (5,822) Gross profit $ 1,889 $ 651 $ — $ 2,540 Gross margin 31.6 % 27.3 % Selling, general & administrative expenses $ (580) $ (365) $ (84) $ (1,029) Engineering expenses (177) (32) — (209) Amortization expense (272) (19) — (291) Income (loss) from operations 860 235 (84) 1,011 Interest expense and other, net — — (157) (157) Income (loss) before income taxes $ 860 $ 235 $ (241) $ 854 Intersegment sales/(elimination) $ 48 $ 32 $ (80) $ — Depreciation and amortization $ 398 $ 61 $ 20 $ 479 Capital expenditures $ 86 $ 55 $ 8 $ 149 The following geographic area data as of and for the years ended December 31, 2024, 2023 and 2022, respectively, includes net sales based on product shipment destination and long-lived assets, which consist of property, plant and equipment, net of depreciation, resident in their respective countries: Net Sales Long-Lived Assets In millions 2024 2023 2022 2024 2023 United States $ 4,924 $ 4,553 $ 3,734 $ 927 $ 948 Canada 616 531 454 7 7 Mexico 275 347 287 34 23 North America 5,815 5,431 4,475 968 978 South America 445 346 336 40 47 Germany 371 347 339 54 54 France 369 346 273 59 58 United Kingdom 296 248 213 33 44 Italy 166 183 163 38 37 Other Europe 612 520 458 58 60 Europe 1,814 1,644 1,446 242 253 India 579 593 531 119 122 Kazakhstan / CIS 559 457 399 34 39 Australia / New Zealand 481 451 465 16 15 China 242 286 244 25 28 Other Asia / Middle East 258 240 183 — — Egypt 28 120 164 — — Other Africa 166 109 119 3 3 Total $ 10,387 $ 9,677 $ 8,362 $ 1,447 $ 1,485 Net sales to external customers by product line are as follows: In millions 2024 2023 2022 Freight Segment: Services $ 3,381 $ 3,262 $ 2,819 Equipment 2,108 1,794 1,547 Components 1,193 1,094 884 Digital Intelligence 786 773 729 Total Freight Segment sales $ 7,468 $ 6,923 $ 5,979 Transit Segment: Original Equipment Manufacturer $ 1,308 $ 1,264 $ 1,117 Aftermarket 1,611 1,490 1,266 Total Transit Segment sales $ 2,919 $ 2,754 $ 2,383

OTHER INCOME, NET

OTHER INCOME, NET	12 Months Ended
	Dec. 31, 2024
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 2024 2023 2022 Foreign currency (loss) gain $ (19) $ (20) $ 6 Equity income 8 25 17 Expected return on pension assets/amortization 11 7 7 Other miscellaneous income (expense) 2 32 (1) Total Other income, net $ 2 $ 44 $ 29 As a result of the change in ownership interest and obtaining control of LKZ, Wabtec's previously held equity interest balance was remeasured to fair value, resulting in a gain of approximately $35 million recorded to Other income, net and is included in Other miscellaneous income (expense) in 2023. See Note 3 for additional information.

RESTRUCTURING

RESTRUCTURING	12 Months Ended
	Dec. 31, 2024
Restructuring and Related Activities [Abstract]
RESTRUCTURING	RESTRUCTURING During the first quarter of 2022, Wabtec announced a multi-year strategic initiative (“Integration 2.0”) to review and consolidate our operating footprint, reduce headcount, streamline the end-to-end manufacturing process, restructure the North America distribution channels, expand operations in low-cost countries, and simplify the business through systems enablement. Through this initiative, Management has evaluated additional capital investments to further simplify and streamline the business. The Company now anticipates that it will incur one-time charges related to Integration 2.0 up to approximately $170 million. A summary of restructuring charges related to the Integration 2.0 initiative is as follows: For the year ended In millions 2024 2023 2022 Freight Segment: Cost of goods sold $ 7 $ 4 $ 13 Selling, general and administrative expenses — 5 1 Other income, net (4) — $ — Total Freight Segment $ 3 $ 9 $ 14 Transit Segment: Cost of goods sold $ 13 $ 25 $ 26 Selling, general and administrative expenses 10 13 6 Amortization expense 2 2 — Total Transit Segment $ 25 $ 40 $ 32 Total Integration 2.0 restructuring charges $ 28 $ 49 $ 46 Total charges related to Integration 2.0 to date are approximately $146 million which includes amounts recorded in the fourth quarter 2021 for similar actions in Europe. Cash payments made during 2024 were approximately $48 million, primarily for employee related costs. Cash payments made during 2023 were approximately $39 million.

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	12 Months Ended
	Dec. 31, 2024
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	SUBSEQUENT EVENTS On January 14, 2025, Wabtec announced a definitive agreement to acquire Evident’s Inspection Technologies division (Inspection Technologies), formerly part of the Scientific Solutions Division of Olympus Corporation, a global leader in Non-Destructive Testing, Remote Visual Inspection and Analytical Instruments solutions for mission critical assets, for $1.78 billion. Inspection Technologies’ leading industry presence and innovative product portfolio is expected to significantly expand Wabtec's capabilities, adding advanced automated inspection capabilities, driving technology in a space where data acquisition, analytics and automation are critical. Upon acquisition, Inspection Technologies will be reported within the Digital Intelligence product line of the Freight Segment. The Company anticipates financing the acquisition with a combination of cash on hand, utilization of the Revolving Credit Facility and an additional term loan. The transaction is subject to customary closing conditions and regulatory approvals, with the Company expecting to finalize the acquisition of Inspection Technologies by the end of the first half of 2025.

SCHEDULE II - VALUATION AND QUA

SCHEDULE II - VALUATION AND QUALIFYING ACCOUNTS	12 Months Ended
	Dec. 31, 2024
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 to Charged/ (credited) to Deductions Balance 2024 Allowance for doubtful accounts $ 31 $ 11 $ — $ (6) $ 36 Valuation allowance-taxes $ 58 $ — $ — $ (6) $ 52 2023 Allowance for doubtful accounts $ 28 $ 8 $ — $ (5) $ 31 Valuation allowance-taxes $ 46 $ 12 $ — $ — $ 58 2022 Allowance for doubtful accounts $ 32 $ 4 $ (1) $ (7) $ 28 Valuation allowance-taxes $ 64 $ — $ — $ (18) $ 46 (1) Impact of fluctuations in foreign currency exchange rates. (2)

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Pay vs Performance Disclosure
Net income attributable to Wabtec shareholders	$ 1,056	$ 815	$ 633

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended	12 Months Ended
	Dec. 31, 2024 shares	Dec. 31, 2024 shares
Trading Arrangements, by Individual
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false
Rafael Santana [Member]
Trading Arrangements, by Individual
Material Terms of Trading Arrangement		On November 26, 2024, Rafael Santana, Wabtec’s President and Chief Executive Officer, entered into a stock trading plan (the “Plan”) designed to comply with Rule 10b5-1(c) under the Securities Exchange Act of 1934, as amended. Under the terms of the plan, shares may be sold from February 26, 2025 to August 21, 2025. Two types of shares are being sold: (i) up to 10,640 shares jointly owned by Mr. Santana and his spouse, and (ii) shares issued to Mr. Santana with respect to the three year performance units granted to him on February 28, 2022 that will vest on March 31, 2025. A performance unit is equal to a share of Wabtec common stock and the number of performance units granted to Mr. Santana on February 28, 2022 was 53,012. The maximum number of shares that may be issued to Mr. Santana with respect to these performance units is 200%, net of shares traded or withheld for tax or other reasons. Under the Plan, 100% of the performance unit shares issued to Mr. Santana are to be sold.
Name	Rafael Santana
Title	President and Chief Executive Officer
Rule 10b5-1 Arrangement Adopted	true
Adoption Date	November 26, 2024
Expiration Date	August 21, 2025
Arrangement Duration	176 days
Aggregate Available	10,640	10,640

Insider Trading Policies and Pr

Insider Trading Policies and Procedures	12 Months Ended
	Dec. 31, 2024
Insider Trading Policies and Procedures [Line Items]
Insider Trading Policies and Procedures Adopted	true

Cybersecurity Risk Management a

Cybersecurity Risk Management and Strategy Disclosure	12 Months Ended
	Dec. 31, 2024
Cybersecurity Risk Management, Strategy, and Governance [Line Items]
Cybersecurity Risk Management Processes for Assessing, Identifying, and Managing Threats [Text Block]	Risk Management and Strategy The security of the Company’s products, data, services and network is a critical priority. To effectively assess, identify and manage material risks associated with cybersecurity threats, the Company has adopted a comprehensive approach with respect to acceptable use, risk management, data privacy, education and awareness, security incident management and reporting, identity and access management, third-party management, security (with respect to physical assets, products, networks and systems), security monitoring and vulnerability identification. The Company has, and continues to, invest in internal and external tools to better detect, patch, monitor, and restore systems. Further, the Company maintains cybersecurity insurance coverage intended to protect against loss of business and other related consequences resulting from cyber incidents. The Company also maintains a global incident response plan and regularly conducts exercises to help with our overall preparedness. The Company takes measures to improve and update our cybersecurity program, including independent third party assessments, penetration testing and scanning of our systems for vulnerabilities. The Company pairs with assessors, consultants, auditors, and other third-party service providers and advisers to assist in monitoring cybersecurity risks. The Company remains committed to preserving the integrity of its network, while remaining adaptable to identify new and emerging threats relying on both internal and external research and intelligence gathering. The Company has instituted a Cybersecurity Awareness Month program and the Cybersecurity Champion Network for continuous improvement via trainings and continued awareness on emerging cybersecurity risks. During 2022, the Company detected a cyber-security incident which impacted the Company’s network. The Company promptly activated incident response protocols and completed a thorough investigation. The incidents did not have a material impact on our business, operations or financial results.
Cybersecurity Risk Management Processes Integrated [Flag]	true
Cybersecurity Risk Management Processes Integrated [Text Block]	To effectively assess, identify and manage material risks associated with cybersecurity threats, the Company has adopted a comprehensive approach with respect to acceptable use, risk management, data privacy, education and awareness, security incident management and reporting, identity and access management, third-party management, security (with respect to physical assets, products, networks and systems), security monitoring and vulnerability identification.
Cybersecurity Risk Management Third Party Engaged [Flag]	true
Cybersecurity Risk Third Party Oversight and Identification Processes [Flag]	true
Cybersecurity Risk Materially Affected or Reasonably Likely to Materially Affect Registrant [Flag]	false
Cybersecurity Risk Board of Directors Oversight [Text Block]	The Company and its Board understands the importance of maintaining a secure environment for our products, data and systems that effectively supports our business objectives and customer needs. Cybersecurity risks are overseen by the Audit Committee of the Board. The Senior Vice-President and Chief Information Officer (“CIO”) and Chief Information Security Officer (“CISO”) provide ongoing and continuing reports to the Audit Committee, which includes information about cyber-risk management, the effectiveness of the Company’s cybersecurity framework, and benchmarking the Company against its industry peers. The CISO is responsible for navigating cyber risks, data access governance, security governance and global regulatory compliance related to cybersecurity regulations and industry standards. The Company also has a Chief Product Security Officer (“CPSO”) who manages imbedding cybersecurity in the Company’s products and services as they are being developed. The Company’s CIO, CISO, and cybersecurity team collectively have decades of experience in various roles managing information security, developing cybersecurity strategy, and implementing, planning and operationalizing a comprehensive global IT infrastructure. Our CIO and CISO maintain relevant degrees, certifications, and trainings while also being recognized as experts in their respective fields by industry leaders.
Cybersecurity Risk Board Committee or Subcommittee Responsible for Oversight [Text Block]	The Senior Vice-President and Chief Information Officer (“CIO”) and Chief Information Security Officer (“CISO”)
Cybersecurity Risk Process for Informing Board Committee or Subcommittee Responsible for Oversight [Text Block]	Cybersecurity risks are overseen by the Audit Committee of the Board.
Cybersecurity Risk Management Positions or Committees Responsible [Flag]	true
Cybersecurity Risk Management Positions or Committees Responsible [Text Block]	The Company and its Board understands the importance of maintaining a secure environment for our products, data and systems that effectively supports our business objectives and customer needs. Cybersecurity risks are overseen by the Audit Committee of the Board. The Senior Vice-President and Chief Information Officer (“CIO”) and Chief Information Security Officer (“CISO”) provide ongoing and continuing reports to the Audit Committee, which includes information about cyber-risk management, the effectiveness of the Company’s cybersecurity framework, and benchmarking the Company against its industry peers. The CISO is responsible for navigating cyber risks, data access governance, security governance and global regulatory compliance related to cybersecurity regulations and industry standards. The Company also has a Chief Product Security Officer (“CPSO”) who manages imbedding cybersecurity in the Company’s products and services as they are being developed. The Company’s CIO, CISO, and cybersecurity team collectively have decades of experience in various roles managing information security, developing cybersecurity strategy, and implementing, planning and operationalizing a comprehensive global IT infrastructure. Our CIO and CISO maintain relevant degrees, certifications, and trainings while also being recognized as experts in their respective fields by industry leaders.
Cybersecurity Risk Management Expertise of Management Responsible [Text Block]	The Company’s CIO, CISO, and cybersecurity team collectively have decades of experience in various roles managing information security, developing cybersecurity strategy, and implementing, planning and operationalizing a comprehensive global IT infrastructure.
Cybersecurity Risk Process for Informing Management or Committees Responsible [Text Block]	The Senior Vice-President and Chief Information Officer (“CIO”) and Chief Information Security Officer (“CISO”) provide ongoing and continuing reports to the Audit Committee, which includes information about cyber-risk management, the effectiveness of the Company’s cybersecurity framework, and benchmarking the Company against its industry peers. The CISO is responsible for navigating cyber risks, data access governance, security governance and global regulatory compliance related to cybersecurity regulations and industry standards. The Company also has a Chief Product Security Officer (“CPSO”) who manages imbedding cybersecurity in the Company’s products and services as they are being developed.
Cybersecurity Risk Management Positions or Committees Responsible Report to Board [Flag]	true

SUMMARY OF SIGNIFICANT ACCOUN_2

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	12 Months Ended
	Dec. 31, 2024
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 eliminated in consolidation.
Cash Equivalents and Restricted Cash	Cash Equivalents and Restricted Cash Cash equivalents are highly liquid investments purchased with an original maturity of three months or less. Restricted cash includes cash held in escrow that is restricted as to withdrawal or usage.
Allowance for Doubtful Accounts	Allowance for Doubtful Accounts
Inventories	Inventories Inventories are stated at the lower of cost or net realizable value. Cost is predominantly 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
Goodwill and Intangible Assets	Goodwill and Intangible Assets Goodwill and other intangible assets with indefinite
Equity Method Investments	Equity Method Investments
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 recognized ratably over the requisite service period following the date of grant. Compensation expense for incentive stock units is updated as necessary if the number of units expected to vest changes based on the Company's performance.
Financial Derivatives and Hedging Activities	Financial Derivatives and 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. At times, the Company limits these risks through the use of derivatives such as cross-currency swaps, foreign currency forward contracts, interest rate hedges, 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. 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 transactions that are denominated in a currency other than an entity’s functional currency are charged or credited to earnings. Realized gains and losses related to foreign currency exchange are recognized in Other income, net on the Consolidated Statements of Income.
Noncontrolling Interests	Noncontrolling Interests
Revenue Recognition	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 method used for these agreements recognizes revenue based on our efforts to satisfy the performance obligation and includes costs of material and labor, both of which give an accurate representation of the progress made toward complete satisfaction of a particular performance obligation. The Company may also use the output method which recognizes revenue based on direct measurements of the value transferred to the customer. 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 Company utilizes a revolving facility to sell up to $350 million of certain receivables of the Company and certain of its subsidiaries (the "Originators"). The Originators contribute receivables to our bankruptcy-remote subsidiary, which sells the receivables to a financial institution on a recurring basis in exchange for cash equal to the gross receivables sold. 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, which could result in our gross receivables sold being higher or lower than customer collections remitted to the financial institution for any applicable period. The sold receivables are fully guaranteed by our bankruptcy-remote subsidiary, which holds additional receivables that are pledged as collateral under this facility. The Company has agreed to guarantee the performance of the Originators respective obligations under the revolving agreement. Neither 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
Preferred Stock	Preferred Stock
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, as well as companies in the mining, marine and industrial markets. No one customer accounted for more than 10% of the Company’s consolidated net sales in the periods presented.
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 Recently Issued and Adopted	Accounting Standards Recently Issued In December 2023, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures . The amendments in this update require entities to disclose on an annual basis specific categories within the income tax rate reconciliation and provide additional information for reconciling items that meet a quantitative threshold. The amendments in this update also require enhanced disaggregation of disclosures about income taxes paid and income tax expense, among other changes. The amendments in this update do not affect the recognition, measurement, or financial statement presentation of income taxes and is effective for Wabtec's annual reporting periods beginning January 1, 2025. The amendments require increased annual disclosures on current and comparable reporting periods presented in annual company filings. The resulting new annual disclosure requirements will be reflected in our 2025 report on Form 10-K. In November 2024, the FASB issued ASU 2024-03, Income Statement—Reporting Comprehensive Income—Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses. The amendments in this update require entities to disclose disaggregated information about certain costs and expenses in commonly presented income statement expense captions. The amendments will require increased interim and annual footnote disclosures either prospectively or retrospectively for reporting periods presented in interim and annual company filings. The amendments in this update do not affect the recognition, measurement, or financial statement presentation of income statement expenses and will be effective for Wabtec's annual reporting periods beginning January 1, 2027 and interim reporting periods beginning January 1, 2028. The Company is assessing the extent of the impact of the amendments on its future filings. Accounting Standards Recently Adopted In November 2023, the FASB issued ASU 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures
Supply Chain Financing Program	Supply Chain Financing Program

SUMMARY OF SIGNIFICANT ACCOUN_3

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)	12 Months Ended
	Dec. 31, 2024
Accounting Policies [Abstract]
Summary of Receivables Sold	The following table sets forth a summary of receivables sold and the resulting impact of net cash processed included in cash from operations: For the year ended In millions 2024 2023 2022 Gross receivables sold/cash proceeds received $ 926 $ 2,617 $ 1,761 Customer collections remitted to financial institution (946) (2,677) (1,701) Net cash proceeds (remitted) received included in cash from operations $ (20) $ (60) $ 60
Summary of Supplier Finance Program	The following table sets forth the changes in amounts due to financial institutions reflected in Accounts payable for the year ended December 31, 2024: December 31, In millions 2024 Obligations outstanding at the beginning of the year $ 305 Invoices confirmed during the year 723 Confirmed invoices paid during the year (717) Obligations outstanding at the end of the year $ 311

ACQUISITIONS (Tables)

ACQUISITIONS (Tables)	12 Months Ended
	Dec. 31, 2024
Business Combination, Asset Acquisition, and Joint Venture Formation [Abstract]
Summary of Fair Value of Assets Acquired and Liabilities Assumed	The following table summarizes the fair value of 100% of the LKZ assets acquired and liabilities assumed: In millions Assets acquired Cash and cash equivalents $ 30 Accounts receivable 6 Inventory 95 Property, plant and equipment 36 Goodwill 111 Other noncurrent assets 3 Total assets acquired 281 Liabilities assumed Current liabilities 21 Noncurrent liabilities 3 Total liabilities assumed 24 Net assets acquired $ 257 The following table summarizes the fair value of the L&M Radiator, Inc. assets acquired and liabilities assumed: In millions Assets acquired Cash and cash equivalents $ 16 Accounts receivable 20 Inventory 26 Other current assets 1 Property, plant and equipment 43 Goodwill 106 Other intangible assets 89 Other noncurrent assets 1 Total assets acquired 302 Liabilities assumed Current liabilities 16 Noncurrent liabilities 41 Total liabilities assumed 57 Net assets acquired $ 245

SUPPLEMENTAL CASH FLOW DISCLO_2

SUPPLEMENTAL CASH FLOW DISCLOSURES (Tables)	12 Months Ended
	Dec. 31, 2024
Supplemental Cash Flow Elements [Abstract]
Summary of Cash Flow Disclosures	Year Ended December 31, 2024 2023 2022 In millions Interest paid during the year $ 181 $ 210 $ 179 Income taxes paid during the year, net of amounts refunded $ 237 $ 233 $ 157 Business acquisitions: Fair value of assets acquired $ 257 $ 438 $ 128 Fair value of liabilities assumed 63 82 38 Cash paid 194 356 90 Less: Cash acquired (26) (48) (1) Net cash paid $ 168 $ 308 $ 89

INVENTORIES (Tables)

INVENTORIES (Tables)	12 Months Ended
	Dec. 31, 2024
Inventory Disclosure [Abstract]
Summary of Components of Inventory, Net of Reserves	The components of inventory, net of reserves, were: December 31, In millions 2024 2023 Raw materials $ 977 $ 1,062 Work-in-progress 587 463 Finished goods 750 759 Total inventories $ 2,314 $ 2,284

PROPERTY, PLANT & EQUIPMENT (Ta

PROPERTY, PLANT & EQUIPMENT (Tables)	12 Months Ended
	Dec. 31, 2024
Property, Plant and Equipment [Abstract]
Summary of Major Classes of Depreciable Assets	The major classes of depreciable assets are as follows: December 31, In millions 2024 2023 Machinery and equipment $ 1,666 $ 1,600 Buildings and improvements 810 838 Land and improvements 106 100 Construction in progress 171 137 Property, plant and equipment 2,753 2,675 Less: accumulated depreciation (1,306) (1,190) Property, plant and equipment, net $ 1,447 $ 1,485 The estimated useful lives of property, plant and equipment are as follows: Years Land improvements 10 to 20 Building and improvements 15 to 40 Machinery and equipment 3 to 15

GOODWILL AND INTANGIBLE ASSETS

GOODWILL AND INTANGIBLE ASSETS (Tables)	12 Months Ended
	Dec. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
Summary of 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, 2022 $ 7,067 $ 1,441 $ 8,508 Additions 215 — 215 Disposals (4) — (4) Foreign currency impact 16 45 61 Balance at December 31, 2023 $ 7,294 $ 1,486 $ 8,780 Additions 31 54 85 Disposals (5) (1) (6) Foreign currency impact (72) (77) (149) Balance at December 31, 2024 $ 7,248 $ 1,462 $ 8,710
Summary of Intangible Assets of the Company, Other Than Goodwill and Trademarks	Intangible assets of the Company, other than goodwill and trade names, that are considered definitive lived consist of the following: December 31, 2024 December 31, 2023 In millions Gross Carrying Amount Accumulated Amortization Net Carrying Amount Gross Carrying Amount Accumulated Amortization Net Carrying Amount Backlog $ 1,415 $ (629) $ 786 $ 1,431 $ (526) $ 905 Customer relationships 1,329 (480) 849 1,333 (431) 902 Acquired technology 1,318 (614) 704 1,283 (497) 786 Total $ 4,062 $ (1,723) $ 2,339 $ 4,047 $ (1,454) $ 2,593
Summary of Estimated Amortization Expense Five Succeeding Years	Estimated amortization expense for the five succeeding years is as follows (in millions): 2025 $ 277 2026 $ 272 2027 $ 267 2028 $ 267 2029 $ 266

CONTRACT ASSETS AND CONTRACT _2

CONTRACT ASSETS AND CONTRACT LIABILITIES (Tables)	12 Months Ended
	Dec. 31, 2024
Revenue from Contract with Customer [Abstract]
Summary of 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 2024 2023 Balance at beginning of year $ 678 $ 706 Recognized in current year 856 692 Reclassified to accounts receivable (801) (723) Acquisitions/adjustments 3 (2) Foreign currency impact (16) 5 Balance at end of year $ 720 $ 678 Contract Liabilities In millions 2024 2023 Balance at beginning of year $ 1,082 $ 956 Recognized in current year 1,562 1,380 Amounts in beginning balance reclassified to revenue (572) (665) Current year amounts reclassified to revenue (876) (593) Acquisitions 8 1 Foreign currency impact (31) 3 Balance at end of year $ 1,173 $ 1,082

LONG-TERM DEBT (Tables)

LONG-TERM DEBT (Tables)	12 Months Ended
	Dec. 31, 2024
Debt Disclosure [Abstract]
Summary of Long-Term Debt	Long-term debt consisted of the following: December 31, Effective 2024 2023 In millions Face Book Fair Value 1 Book Fair Value 1 2024 Credit Agreement: Term Loan 6.6 % $ 225 $ 224 $ 225 $ — $ — 2022 Credit Agreement: Revolving Credit Facility 8.0 % N/A — — — — Delayed Draw Term Loan 6.6 % $ 250 250 250 250 250 Senior Notes: 4.15% Senior Notes, due 2024 — — 725 722 3.20% Senior Notes, due 2025 3.4 % $ 500 500 496 499 484 3.45% Senior Notes, due 2026 3.5 % $ 750 750 732 749 718 1.25% Senior Notes (EUR), due 2027 1.5 % € 500 514 495 547 509 4.70% Senior Notes, due 2028 4.8 % $ 1,250 1,246 1,239 1,245 1,237 5.611% Senior Notes, due 2034 5.7 % $ 500 496 507 — — Other Borrowings — — 54 57 Total 3,980 3,944 4,069 3,977 Less: current portion (500) (496) (781) (779) Long-term portion $ 3,480 $ 3,448 $ 3,288 $ 3,198 1. See Note 17 for information on the fair value measurement of the Company's long-term debt. As of December 31, 2024, the annual repayment requirements for debt obligations are as follows: In millions 2025 $ 500 2026 750 2027 770 2028 1,250 2029 225 Thereafter 500 Total $ 3,995
Summary of Line of Credit Facilities	The following table presents availability under the 2022 Credit Agreement as of December 31, 2024: In millions Revolving Credit Facility Delayed Draw Term Loan Total Maximum Availability $ 1,500 $ 250 $ 1,750 Outstanding Borrowings — (250) (250) Letters of Credit Under Credit Agreement — — — Current Availability $ 1,500 $ — $ 1,500

EMPLOYEE BENEFIT PLANS (Tables)

EMPLOYEE BENEFIT PLANS (Tables)	12 Months Ended
	Dec. 31, 2024
Retirement Benefits [Abstract]
Summary of 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 2024 2023 2024 2023 Change in projected benefit obligation Obligation at beginning of year $ (55) $ (29) $ (251) $ (236) Service cost — — (3) (3) Interest cost (3) (2) (11) (11) Employee contributions — — (1) (1) Plan settlements, curtailments and amendments — 1 1 1 Benefits paid 4 4 13 14 Acquisition — (29) — — Actuarial gain (loss) 2 — 17 (5) Effect of currency rate changes — — 10 (10) Obligation at end of year $ (52) $ (55) $ (225) $ (251) Change in plan assets Fair value of plan assets at beginning of year $ 55 $ 31 $ 211 $ 201 Actual return on plan assets 1 2 10 10 Employer contributions — — 5 6 Employee contributions — — 1 1 Benefits paid (4) (4) (13) (14) Settlements and other — — (1) (1) Acquisition — 26 — — Effect of currency rate changes — — (9) 8 Fair value of plan assets at end of year $ 52 $ 55 $ 204 $ 211 Funded status Fair value of plan assets $ 52 $ 55 $ 204 $ 211 Benefit obligations (52) (55) (225) (251) Funded status $ — $ — $ (21) $ (40) Amounts recognized in the statement of financial position consist of: Noncurrent assets $ — $ — $ 29 $ 13 Current liabilities — — (2) (2) Noncurrent liabilities — — (48) (51) Net amount recognized $ — $ — $ (21) $ (40) Amounts recognized in Accumulated other comprehensive loss, before tax at December 31, consist of: Prior service cost — — (1) (1) Net actuarial loss (13) (14) (44) (64) Net amount recognized $ (13) $ (14) $ (45) $ (65)
Summary of International Pension Plans with Accumulated Benefit Obligations and with Projected Benefit Obligations in Excess of Plan Assets	The aggregate accumulated benefit obligation for the U.S. pension plans was $52 million and $55 million as of December 31, 2024 and 2023, respectively. The aggregate accumulated benefit obligation for the international pension plans was $214 million and $241 million as of December 31, 2024 and 2023, respectively. International In millions 2024 2023 Information for pension plans with accumulated benefit obligations in excess of Plan assets: Projected benefit obligation $ (74) $ (185) Accumulated benefit obligation (65) (178) Fair value of plan assets 25 133 Information for pension plans with projected benefit obligations in excess of plan assets: Projected benefit obligation $ (79) $ (194) Accumulated benefit obligation (69) (185) Fair value of plan assets 29 141
Summary of Components of Net Periodic Benefit Costs	Components of Net Periodic Benefit Costs U.S. International In millions 2024 2023 2022 2024 2023 2022 Service cost $ — $ — $ — $ 3 $ 3 $ 3 Interest cost 3 2 1 11 11 6 Expected return on plan assets (3) (2) (1) (11) (10) (12) Amortization of net loss — — 1 3 3 2 Settlement and curtailment gains recognized — (1) — — — (1) Net periodic benefit (income) cost $ — $ (1) $ 1 $ 6 $ 7 $ (2)
Summary of 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 2024 2023 2022 2024 2023 2022 Discount rate 5.70 % 5.25 % 5.58 % 4.68 % 4.38 % 4.77 % Expected return on plan assets 4.50 % 3.80 % 3.80 % 5.53 % 5.09 % 4.25 % Rate of compensation increase 3.00 % 3.00 % 3.00 % 2.92 % 2.88 % 2.78 %
Summary of Pension Plan Assets by Asset Category	Plan assets by asset category at December 31, 2024 and 2023 are as follows: U.S. International In millions 2024 2023 2024 2023 Pension Plan Assets Equity security funds $ 8 $ 3 $ 59 $ 56 Debt security funds 42 35 118 129 Insurance contracts — — 11 12 Cash and cash equivalents and other 2 17 16 14 Fair value of plan assets $ 52 $ 55 $ 204 $ 211
Summary 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, 2024 In millions NAV Level 1 Level 2 Level 3 Total US: Equity $ — $ 8 $ — $ — $ 8 Debt Securities — 9 33 — 42 Cash and cash equivalents — 2 — — 2 International: Equity 6 14 39 — 59 Debt Securities — 3 115 — 118 Insurance Contracts — — 3 8 11 Cash and cash equivalents and other — 6 10 — 16 Total $ 6 $ 42 $ 200 $ 8 $ 256 December 31, 2023 In millions NAV Level 1 Level 2 Level 3 Total US: Equity $ — $ 3 $ — $ — $ 3 Debt Securities — 5 30 — 35 Cash and cash equivalents — 17 — — 17 International: Equity 6 14 36 — 56 Debt Securities — 3 126 — 129 Insurance Contracts — — 4 8 12 Cash and cash equivalents and other — 6 8 — 14 Total $ 6 $ 48 $ 204 $ 8 $ 266
Summary of 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, 2025 $ 4 $ 15 2026 $ 4 $ 15 2027 $ 4 $ 16 2028 $ 4 $ 16 2029 $ 4 $ 17 2030 through 2034 $ 20 $ 86

INCOME TAXES (Tables)

INCOME TAXES (Tables)	12 Months Ended
	Dec. 31, 2024
Income Tax Disclosure [Abstract]
Summary of 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 2024 2023 2022 Domestic $ 782 $ 506 $ 372 Foreign 628 586 482 Income before income taxes $ 1,410 $ 1,092 $ 854
Summary of 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 2024 2023 2022 Current tax expense Federal $ 106 $ 148 $ 37 State 26 29 3 Foreign 160 148 137 292 325 177 Deferred tax expense (benefit) Federal 26 (50) 29 State 9 1 — Foreign 16 (9) 7 51 (58) 36 Total provision $ 343 $ 267 $ 213
Summary of 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 2024 2023 2022 U.S. federal statutory rate 21.0 % 21.0 % 21.0 % State taxes 1.8 1.5 2.0 Foreign 3.1 2.0 3.8 Research and development credit (0.7) (0.6) (0.8) Non-taxable gain on acquisition — (0.8) — U.S. net operating loss carryback (1.0) — — Changes in valuation allowances (0.4) 1.0 (2.0) U.S. tax reform provision 0.5 0.6 0.1 Other, net — (0.2) 0.9 Effective rate 24.3 % 24.5 % 25.0 %
Summary of Components of Deferred Tax Assets and Liabilities	Components of deferred tax assets and liabilities were as follows: December 31, In millions 2024 2023 Deferred income tax assets: Accrued expenses and reserves $ 38 $ 50 Warranty reserve 53 49 Deferred compensation/employee benefits 92 77 Right-of-use assets 74 78 Pension and postretirement obligations 13 16 Inventory 39 49 Deferred revenue 93 84 Net operating loss carry forwards 106 124 Other 50 51 Gross deferred income tax assets 558 578 Less: Valuation allowance (52) (58) Total deferred income tax assets 506 520 Deferred income tax liabilities: Property, plant & equipment 64 64 Right-of-use liabilities 71 75 Intangible assets 663 610 Total deferred income tax liabilities 798 749 Net deferred income tax liability $ 292 $ 229
Schedule of Unrecognized Tax Benefits Roll Forward	A reconciliation of the beginning and ending amount of the gross liability for income taxes associated with unrecognized tax benefits follows: In millions 2024 2023 2022 Balance at beginning of year $ 40 $ 33 $ 32 Unrecognized tax benefits in prior periods 3 13 1 Audit settlement during year (22) (5) — Expiration of audit statute of limitations (2) (1) — Balance at end of year $ 19 $ 40 $ 33

EARNINGS PER SHARE (Tables)

EARNINGS PER SHARE (Tables)	12 Months Ended
	Dec. 31, 2024
Earnings Per Share [Abstract]
Summary of Computation of Earnings Per Share	The computation of basic and diluted earnings per common share for Net income attributable to Wabtec shareholders is as follows: For the year ended In millions, except per share data 2024 2023 2022 Numerator Net income attributable to Wabtec shareholders $ 1,056 $ 815 $ 633 Less: Net income allocated to non-vested restricted stock (3) (2) (2) Numerator for basic and diluted earnings per common share $ 1,053 $ 813 $ 631 Denominator Weighted average shares outstanding - basic 174.1 178.8 182.2 Effect of dilutive securities: Assumed conversion of dilutive stock-based compensation plans excluding non-vested restricted stock 0.3 0.4 0.4 Assumed conversion of dilutive non-vested restricted stock 0.4 0.3 0.2 Weighted average shares outstanding - diluted 174.8 179.5 182.8 Earnings per common share attributable to Wabtec shareholders Basic $ 6.05 $ 4.54 $ 3.46 Diluted $ 6.04 $ 4.53 $ 3.46

STOCK-BASED COMPENSATION PLANS

STOCK-BASED COMPENSATION PLANS (Tables)	12 Months Ended
	Dec. 31, 2024
Share-Based Payment Arrangement [Abstract]
Summary of Restricted Stock Activity and Incentive Stock Awards Activity	The following table summarizes the restricted stock and incentive stock units activity and related information for the years ended December 31: Restricted Incentive Weighted Outstanding at December 31, 2021 507,698 607,101 $ 78.06 Granted 460,841 176,657 $ 91.19 Vested (234,597) (43,039) $ 75.14 Adjustment for incentive stock awards expected to vest — 45,301 $ 84.55 Canceled (44,522) (41,176) $ 76.84 Outstanding at December 31, 2022 689,420 744,844 $ 84.73 Granted 368,209 192,751 $ 104.70 Vested (262,339) (265,678) $ 81.00 Adjustment for incentive stock awards expected to vest — 31,011 $ 88.02 Canceled (34,721) (10,196) $ 93.44 Outstanding at December 31, 2023 760,569 692,732 $ 93.65 Granted 310,461 193,661 $ 142.55 Vested (296,463) (298,756) $ 87.23 Adjustment for incentive stock awards expected to vest — 313,519 $ 118.53 Canceled (46,531) (24,092) $ 105.98 Outstanding at December 31, 2024 728,036 877,064 $ 115.71

ACCUMULATED OTHER COMPREHENSI_2

ACCUMULATED OTHER COMPREHENSIVE LOSS (Tables)	12 Months Ended
	Dec. 31, 2024
Equity [Abstract]
Summary of 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, 2024, 2023, and 2022 are as follows: In millions Foreign currency translation Derivative contracts Pension and post retirement benefit plans Total Balance at December 31, 2021 $ (396) $ (5) $ (65) $ (466) Other comprehensive (loss) income before reclassifications (200) (4) 7 (197) Amounts reclassified from Accumulated other comprehensive loss — — 2 2 Other comprehensive (loss) income, net (200) (4) 9 (195) Balance at December 31, 2022 $ (596) $ (9) $ (56) $ (661) Other comprehensive income (loss) before reclassifications 55 16 (2) 69 Amounts reclassified from Accumulated other comprehensive loss — — 2 2 Other comprehensive income, net 55 16 — 71 Balance at December 31, 2023 $ (541) $ 7 $ (56) $ (590) Other comprehensive (loss) income before reclassifications (277) 10 13 (254) Amounts reclassified from Accumulated other comprehensive loss — — (2) (2) Other comprehensive (loss) income, net (277) 10 11 (256) Balance at December 31, 2024 $ (818) $ 17 $ (45) $ (846)

LEASES (Tables)

LEASES (Tables)	12 Months Ended
	Dec. 31, 2024
Leases [Abstract]
Summary of Maturity of Operating Lease Liabilities	Scheduled payments of operating lease liabilities are as follows: In millions Operating Leases 2025 $ 63 2026 56 2027 45 2028 37 2029 30 Thereafter 114 Total lease payments 345 Less: Present value discount (37) Present value lease liabilities $ 308
Summary of 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 operating lease liabilities: December 31, 2024 December 31, 2023 Weighted-average remaining lease term (years) 7.9 7.8 Weighted-average discount rate 2.9 % 2.4 %

WARRANTIES (Tables)

WARRANTIES (Tables)	12 Months Ended
	Dec. 31, 2024
Product Warranties Disclosures [Abstract]
Summary of Changes in Product Warranty Reserve	The following table reconciles the changes in the Company’s product warranty reserve as follows: In millions 2024 2023 Balance at beginning of year $ 248 $ 242 Warranty expense 117 95 Warranty claim payments (85) (93) Acquisitions 1 — Foreign currency impact/other (7) 4 Balance at end of year $ 274 $ 248

FAIR VALUE MEASUREMENT AND DE_2

FAIR VALUE MEASUREMENT AND DERIVATIVE INSTRUMENTS (Tables)	12 Months Ended
	Dec. 31, 2024
Fair Value Disclosures [Abstract]
Summary of 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, 2024, 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 $ 5 $ 1 $ 387 $ 153 Other current liabilities 2 (4) (1) 182 44 Interest Rate Contracts Other current assets 2 2 — 40 — Total $ 3 $ — $ 609 $ 197 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, 2023, 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 $ 6 $ 3 $ 319 $ 110 Other current liabilities 2 (12) (3) 655 200 Interest Rate Contracts Other current assets 2 10 — 250 — Total $ 4 $ — $ 1,224 $ 310

SEGMENT INFORMATION (Tables)

SEGMENT INFORMATION (Tables)	12 Months Ended
	Dec. 31, 2024
Segment Reporting [Abstract]
Summary of Segment Financial Information	During 2024, Company management determined that certain parts of the business would be better aligned with management oversight in different product lines. These changes were immaterial to the individual product lines and segments affected, and historical amounts have been reclassified to conform to the current period presentation. Segment financial information for 2024 is as follows: In millions Freight Segment Transit Segment Corporate Activities and Elimination Total Sales to external customers $ 7,468 $ 2,919 $ — $ 10,387 Cost of sales (4,945) (2,076) — (7,021) Gross profit $ 2,523 $ 843 $ — $ 3,366 Gross margin 33.8 % 28.9 % Selling, general & administrative expenses $ (664) $ (433) $ (151) $ (1,248) Engineering expenses (164) (42) — (206) Amortization expense (273) (30) — (303) Income (loss) from operations 1,422 338 (151) 1,609 Interest expense and other, net — — (199) (199) Income (loss) before income taxes $ 1,422 $ 338 $ (350) $ 1,410 Intersegment sales/(elimination) $ 48 $ 59 $ (107) $ — Depreciation and amortization $ 413 $ 73 $ 17 $ 503 Capital expenditures $ 140 $ 62 $ 5 $ 207 Segment assets $ 13,176 $ 3,861 $ 1,665 $ 18,702 Segment financial information for 2023 is as follows: In millions Freight Segment Transit Segment Corporate Activities and Elimination Total Sales to external customers $ 6,923 $ 2,754 $ — $ 9,677 Cost of sales (4,742) (1,991) — (6,733) Gross profit $ 2,181 $ 763 $ — $ 2,944 Gross margin 31.5 % 27.7 % Selling, general & administrative expenses $ (637) $ (408) $ (94) $ (1,139) Engineering expenses (180) (38) — (218) Amortization expense (299) (22) — (321) Income (loss) from operations 1,065 295 (94) 1,266 Interest expense and other, net — — (174) (174) Income (loss) before income taxes $ 1,065 $ 295 $ (268) $ 1,092 Intersegment sales/(elimination) $ 58 $ 42 $ (100) $ — Depreciation and amortization $ 442 $ 72 $ 17 $ 531 Capital expenditures $ 119 $ 58 $ 9 $ 186 Segment assets $ 13,417 $ 3,944 $ 1,627 $ 18,988 Segment financial information for 2022 is as follows: In millions Freight Segment Transit Segment Corporate Activities and Elimination Total Sales to external customers $ 5,979 $ 2,383 $ — $ 8,362 Cost of sales (4,090) (1,732) — (5,822) Gross profit $ 1,889 $ 651 $ — $ 2,540 Gross margin 31.6 % 27.3 % Selling, general & administrative expenses $ (580) $ (365) $ (84) $ (1,029) Engineering expenses (177) (32) — (209) Amortization expense (272) (19) — (291) Income (loss) from operations 860 235 (84) 1,011 Interest expense and other, net — — (157) (157) Income (loss) before income taxes $ 860 $ 235 $ (241) $ 854 Intersegment sales/(elimination) $ 48 $ 32 $ (80) $ — Depreciation and amortization $ 398 $ 61 $ 20 $ 479 Capital expenditures $ 86 $ 55 $ 8 $ 149
Summary of Geographic Area Data	The following geographic area data as of and for the years ended December 31, 2024, 2023 and 2022, respectively, includes net sales based on product shipment destination and long-lived assets, which consist of property, plant and equipment, net of depreciation, resident in their respective countries: Net Sales Long-Lived Assets In millions 2024 2023 2022 2024 2023 United States $ 4,924 $ 4,553 $ 3,734 $ 927 $ 948 Canada 616 531 454 7 7 Mexico 275 347 287 34 23 North America 5,815 5,431 4,475 968 978 South America 445 346 336 40 47 Germany 371 347 339 54 54 France 369 346 273 59 58 United Kingdom 296 248 213 33 44 Italy 166 183 163 38 37 Other Europe 612 520 458 58 60 Europe 1,814 1,644 1,446 242 253 India 579 593 531 119 122 Kazakhstan / CIS 559 457 399 34 39 Australia / New Zealand 481 451 465 16 15 China 242 286 244 25 28 Other Asia / Middle East 258 240 183 — — Egypt 28 120 164 — — Other Africa 166 109 119 3 3 Total $ 10,387 $ 9,677 $ 8,362 $ 1,447 $ 1,485
Summary of Sales by Product	Net sales to external customers by product line are as follows: In millions 2024 2023 2022 Freight Segment: Services $ 3,381 $ 3,262 $ 2,819 Equipment 2,108 1,794 1,547 Components 1,193 1,094 884 Digital Intelligence 786 773 729 Total Freight Segment sales $ 7,468 $ 6,923 $ 5,979 Transit Segment: Original Equipment Manufacturer $ 1,308 $ 1,264 $ 1,117 Aftermarket 1,611 1,490 1,266 Total Transit Segment sales $ 2,919 $ 2,754 $ 2,383

OTHER INCOME, NET (Tables)

OTHER INCOME, NET (Tables)	12 Months Ended
	Dec. 31, 2024
Other Income and Expenses [Abstract]
Summary of Components of Other Income (Expense)	The components of Other income, net are as follows: For the year ended December 31, In millions 2024 2023 2022 Foreign currency (loss) gain $ (19) $ (20) $ 6 Equity income 8 25 17 Expected return on pension assets/amortization 11 7 7 Other miscellaneous income (expense) 2 32 (1) Total Other income, net $ 2 $ 44 $ 29

RESTRUCTURING (Tables)

RESTRUCTURING (Tables)	12 Months Ended
	Dec. 31, 2024
Restructuring and Related Activities [Abstract]
Schedule of Restructuring Charges	A summary of restructuring charges related to the Integration 2.0 initiative is as follows: For the year ended In millions 2024 2023 2022 Freight Segment: Cost of goods sold $ 7 $ 4 $ 13 Selling, general and administrative expenses — 5 1 Other income, net (4) — $ — Total Freight Segment $ 3 $ 9 $ 14 Transit Segment: Cost of goods sold $ 13 $ 25 $ 26 Selling, general and administrative expenses 10 13 6 Amortization expense 2 2 — Total Transit Segment $ 25 $ 40 $ 32 Total Integration 2.0 restructuring charges $ 28 $ 49 $ 46

BUSINESS (Details)

BUSINESS (Details)	12 Months Ended
	Dec. 31, 2024 country
Product Information [Line Items]
Number of countries company operates (over)	50
Number of countries where product found (more than)	100
Non-US | Revenue from Contract with Customer Benchmark | Geographic Concentration Risk
Product Information [Line Items]
Revenues from customers outside the U.S. (as percent)	53%

SUMMARY OF SIGNIFICANT ACCOUN_4

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Narrative (Details) - USD ($)	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Summary Of Significant Accounting Policies [Line Items]
Allowance for doubtful accounts	$ 36,000,000	$ 31,000,000
Equity method investments	39,000,000	36,000,000
Account receivable securitization facility, maximum amount	350,000,000
Accounts receivable	1,152,000,000	1,160,000,000
Accounts receivable held collateralize the outstanding receivables sold.	0	20,000,000
Deferred pre-production costs	$ 52,000,000	$ 61,000,000
Preferred stock, shares authorized (in shares)	1,000,000
Preferred stock, shares issued (in shares)	0	0
Preferred stock, shares outstanding (in shares)	0	0
Supplier finance program, obligation	$ 311,000,000	$ 305,000,000
Supplier Finance Program, Obligation, Statement of Financial Position [Extensible Enumeration]	Accounts payable
Minimum
Summary Of Significant Accounting Policies [Line Items]
Supply chain financing term	45 days
Maximum
Summary Of Significant Accounting Policies [Line Items]
Supply chain financing term	180 days
Collateral Pledged
Summary Of Significant Accounting Policies [Line Items]
Accounts receivable	$ 693,000,000	$ 674,000,000

SUMMARY OF SIGNIFICANT ACCOUN_5

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Performance Obligation (Details) - Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2025-01-01 $ in Billions	Dec. 31, 2024 USD ($)
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation	$ 22.3
Revenue expected to be recognized over next 12 months	34%
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, 2024	Dec. 31, 2023	Dec. 31, 2022
Accounting Policies [Abstract]
Gross receivables sold/cash proceeds received	$ 926	$ 2,617	$ 1,761
Customer collections remitted to financial institution	(946)	(2,677)	(1,701)
Net cash proceeds (remitted) received included in cash from operations	$ (20)	$ (60)	$ 60

SUMMARY OF SIGNIFICANT ACCOUN_7

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Summary of Supplier Finance Program (Details) $ in Millions	12 Months Ended
	Dec. 31, 2024 USD ($)
Supplier Finance Program, Obligation [Roll Forward]
Obligations outstanding at the beginning of the year	$ 305
Invoices confirmed during the year	723
Confirmed invoices paid during the year	(717)
Obligations outstanding at the end of the year	$ 311

ACQUISITIONS - Narrative (Detai

ACQUISITIONS - Narrative (Details) $ in Millions		3 Months Ended	12 Months Ended
	Dec. 22, 2023 USD ($)	Jun. 30, 2023 USD ($)	Dec. 31, 2024 USD ($) segment	Dec. 31, 2022 USD ($) business	Dec. 21, 2023
LKZ
Business Acquisition [Line Items]
Ownership percent					50%
Freight Segment
Business Acquisition [Line Items]
Number of businesses acquired | business				3
Digital Intelligence | Freight Segment
Business Acquisition [Line Items]
Business combination, consideration transferred				$ 89
Digital Electronics Product Line | Freight Segment
Business Acquisition [Line Items]
Number of businesses acquired | business				2
Services Product Line | Freight Segment
Business Acquisition [Line Items]
Number of businesses acquired | business				1
Strategic Acquisitions
Business Acquisition [Line Items]
Number of businesses acquired | segment			4
Business combination, consideration transferred			$ 168
Strategic Acquisitions | Transit Segment
Business Acquisition [Line Items]
Number of businesses acquired | segment			2
Strategic Acquisitions | Digital Electronics Product Line | Freight Segment
Business Acquisition [Line Items]
Number of businesses acquired | segment			1
Strategic Acquisitions | Components Product Line | Freight Segment
Business Acquisition [Line Items]
Number of businesses acquired | segment			1
LKZ
Business Acquisition [Line Items]
Business combination, consideration transferred	$ 111
Percentage of voting interests acquired	50%
Remeasurement gain	$ 35
Total purchase price (as a percent)	100%
L&M Radiator, Inc
Business Acquisition [Line Items]
Business combination, consideration transferred		$ 245

ACQUISITIONS - Summary of Fair

ACQUISITIONS - Summary of Fair Value of Assets Acquired and Liabilities Assumed (Details) - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023	Dec. 22, 2023	Jun. 30, 2023	Dec. 31, 2022
Assets acquired
Goodwill	$ 8,710	$ 8,780			$ 8,508
LKZ
Assets acquired
Cash and cash equivalents			$ 30
Accounts receivable			6
Inventory			95
Property, plant and equipment			36
Goodwill			111
Other noncurrent assets			3
Total assets acquired			281
Liabilities assumed
Current liabilities			21
Noncurrent liabilities			3
Total liabilities assumed			24
Net assets acquired			$ 257
L&M Radiator, Inc
Assets acquired
Cash and cash equivalents				$ 16
Accounts receivable				20
Inventory				26
Other current assets				1
Property, plant and equipment				43
Goodwill				106
Other intangible assets				89
Other noncurrent assets				1
Total assets acquired				302
Liabilities assumed
Current liabilities				16
Noncurrent liabilities				41
Total liabilities assumed				57
Net assets acquired				$ 245

SUPPLEMENTAL CASH FLOW DISCLO_3

SUPPLEMENTAL CASH FLOW DISCLOSURES - Summary of Cash Flow Disclosures (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Supplemental Cash Flow Elements [Abstract]
Interest paid during the year	$ 181	$ 210	$ 179
Income taxes paid during the year, net of amounts refunded	237	233	157
Business acquisitions:
Fair value of assets acquired	257	438	128
Fair value of liabilities assumed	63	82	38
Cash paid	194	356	90
Less: Cash acquired	(26)	(48)	(1)
Net cash paid	$ 168	$ 308	$ 89

SUPPLEMENTAL CASH FLOW DISCLO_4

SUPPLEMENTAL CASH FLOW DISCLOSURES - Narrative (Details) - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023
Supplemental Cash Flow Elements [Abstract]
Restricted cash	$ 9	$ 5

INVENTORIES (Details)

INVENTORIES (Details) - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023
Inventory Disclosure [Abstract]
Raw materials	$ 977	$ 1,062
Work-in-progress	587	463
Finished goods	750	759
Total inventories	$ 2,314	$ 2,284

PROPERTY, PLANT & EQUIPMENT - M

PROPERTY, PLANT & EQUIPMENT - Major Classes of Depreciable Assets (Details) - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023
Property, Plant and Equipment [Abstract]
Machinery and equipment	$ 1,666	$ 1,600
Buildings and improvements	810	838
Land and improvements	106	100
Construction in progress	171	137
Property, plant and equipment	2,753	2,675
Less: accumulated depreciation	(1,306)	(1,190)
Property, plant and equipment, net	$ 1,447	$ 1,485

PROPERTY, PLANT & EQUIPMENT - E

PROPERTY, PLANT & EQUIPMENT - Estimated Useful Lives of Property Plant and Equipment (Details)	Dec. 31, 2024
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	15 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, 2024	Dec. 31, 2023	Dec. 31, 2022
Property, Plant and Equipment [Abstract]
Depreciation expense	$ 196	$ 204	$ 182

GOODWILL AND INTANGIBLE ASSET_2

GOODWILL AND INTANGIBLE ASSETS - Narrative (Details) $ in Millions	12 Months Ended
	Dec. 31, 2024 USD ($) reporting_unit	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)
Intangible Assets Disclosure [Line Items]
Number of reporting units | reporting_unit	3
Trade names	$ 595	$ 612
Amortization expense for intangible assets	303	321	$ 291
Trade Names
Intangible Assets Disclosure [Line Items]
Intangible asset impairment charge	$ 6	$ 14
Useful life (in years)	5 years
Order or Production Backlog
Intangible Assets Disclosure [Line Items]
Intangible assets, weighted average useful life (years)	7 years
Customer Relationships
Intangible Assets Disclosure [Line Items]
Intangible assets, weighted average useful life (years)	14 years
Technology-Based Intangible Assets
Intangible Assets Disclosure [Line Items]
Intangible assets, weighted average useful life (years)	6 years
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
Freight Segment
Intangible Assets Disclosure [Line Items]
Number of reporting units | reporting_unit	2

GOODWILL AND INTANGIBLE ASSET_3

GOODWILL AND INTANGIBLE ASSETS - Summary of Change in the Carrying Amount of Goodwill by Segment (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Goodwill [Roll Forward]
Balance beginning of period	$ 8,780	$ 8,508
Additions	85	215
Disposals	(6)	(4)
Foreign currency impact	(149)	61
Balance end of period	8,710	8,780
Freight Segment
Goodwill [Roll Forward]
Balance beginning of period	7,294	7,067
Additions	31	215
Disposals	(5)	(4)
Foreign currency impact	(72)	16
Balance end of period	7,248	7,294
Transit Segment
Goodwill [Roll Forward]
Balance beginning of period	1,486	1,441
Additions	54	0
Disposals	(1)	0
Foreign currency impact	(77)	45
Balance end of period	$ 1,462	$ 1,486

GOODWILL AND INTANGIBLE ASSET_4

GOODWILL AND INTANGIBLE ASSETS - Summary of Intangible Assets Other Than Goodwill and Trademarks (Details) - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023
Finite Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 4,062	$ 4,047
Accumulated Amortization	(1,723)	(1,454)
Net Carrying Amount	2,339	2,593
Backlog
Finite Lived Intangible Assets [Line Items]
Gross Carrying Amount	1,415	1,431
Accumulated Amortization	(629)	(526)
Net Carrying Amount	786	905
Customer relationships
Finite Lived Intangible Assets [Line Items]
Gross Carrying Amount	1,329	1,333
Accumulated Amortization	(480)	(431)
Net Carrying Amount	849	902
Acquired technology
Finite Lived Intangible Assets [Line Items]
Gross Carrying Amount	1,318	1,283
Accumulated Amortization	(614)	(497)
Net Carrying Amount	$ 704	$ 786

GOODWILL AND INTANGIBLE ASSET_5

GOODWILL AND INTANGIBLE ASSETS - Summary of Estimated Amortization Expense Five Succeeding Years (Details) $ in Millions	Dec. 31, 2024 USD ($)
Goodwill and Intangible Assets Disclosure [Abstract]
2025	$ 277
2026	272
2027	267
2028	267
2029	$ 266

CONTRACT ASSETS AND CONTRACT _3

CONTRACT ASSETS AND CONTRACT LIABILITIES - Narrative (Details) - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023
Revenue from Contract with Customer [Abstract]
Noncurrent contract assets	$ 170	$ 154
Noncurrent contract liabilities	389	174
Provisions for loss contracts	$ 91	$ 104

CONTRACT ASSETS AND CONTRACT _4

CONTRACT ASSETS AND CONTRACT LIABILITIES - Summary of Contract with Customer, Asset and Liability (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Contract Assets
Balance at beginning of year	$ 678	$ 706
Recognized in current year	856	692
Reclassified to accounts receivable	(801)	(723)
Acquisitions/adjustments	3	(2)
Foreign currency impact	(16)	5
Balance at end of year	720	678
Contract Liabilities
Balance at beginning of year	1,082	956
Recognized in current year	1,562	1,380
Amounts in beginning balance reclassified to revenue	(572)	(665)
Current year amounts reclassified to revenue	(876)	(593)
Acquisitions	8	1
Foreign currency impact	(31)	3
Balance at end of year	$ 1,173	$ 1,082

LONG-TERM DEBT - Summary of Lon

LONG-TERM DEBT - Summary of Long-term Debt (Details)	Dec. 31, 2024 USD ($)	Dec. 31, 2024 EUR (€)	Mar. 14, 2024 USD ($)	Mar. 11, 2024 USD ($)	Dec. 31, 2023 USD ($)
Debt Instrument [Line Items]
Total	$ 3,980,000,000				$ 4,069,000,000
Less: current portion	(500,000,000)				(781,000,000)
Long-term portion	3,480,000,000				3,288,000,000
Fair Value
Debt Instrument [Line Items]
Total	3,944,000,000				3,977,000,000
Less: current portion	(496,000,000)				(779,000,000)
Long-term portion	3,448,000,000				3,198,000,000
Other Borrowings
Debt Instrument [Line Items]
Total	0				54,000,000
Other Borrowings | Fair Value
Debt Instrument [Line Items]
Total	$ 0				57,000,000
4.15% Senior Notes, due 2024 | Senior Notes
Debt Instrument [Line Items]
Stated interest rate	4.15%	4.15%
Total	$ 0				725,000,000
4.15% Senior Notes, due 2024 | Senior Notes | Fair Value
Debt Instrument [Line Items]
Total	$ 0				722,000,000
3.20% Senior Notes, due 2025 | Senior Notes
Debt Instrument [Line Items]
Stated interest rate	3.20%	3.20%
Effective Interest Rate	3.40%	3.40%
Face Value	$ 500,000,000
Total	500,000,000				499,000,000
3.20% Senior Notes, due 2025 | Senior Notes | Fair Value
Debt Instrument [Line Items]
Total	$ 496,000,000				484,000,000
3.45% Senior Notes, due 2026 | Senior Notes
Debt Instrument [Line Items]
Stated interest rate	3.45%	3.45%
Effective Interest Rate	3.50%	3.50%
Face Value	$ 750,000,000
Total	750,000,000				749,000,000
3.45% Senior Notes, due 2026 | Senior Notes | Fair Value
Debt Instrument [Line Items]
Total	$ 732,000,000				718,000,000
1.25% Senior Notes (EUR), due 2027 | Senior Notes
Debt Instrument [Line Items]
Stated interest rate	1.25%	1.25%
Effective Interest Rate	1.50%	1.50%
Face Value | €		€ 500,000,000
Total	$ 514,000,000				547,000,000
1.25% Senior Notes (EUR), due 2027 | Senior Notes | Fair Value
Debt Instrument [Line Items]
Total	$ 495,000,000				509,000,000
4.70% Senior Notes, due 2028 | Senior Notes
Debt Instrument [Line Items]
Stated interest rate	4.70%	4.70%
Effective Interest Rate	4.80%	4.80%
Face Value	$ 1,250,000,000
Total	1,246,000,000				1,245,000,000
4.70% Senior Notes, due 2028 | Senior Notes | Fair Value
Debt Instrument [Line Items]
Total	$ 1,239,000,000				1,237,000,000
5.611% Senior Notes, due 2034 | Senior Notes
Debt Instrument [Line Items]
Stated interest rate	5.611%	5.611%		5.611%
Effective Interest Rate	5.70%	5.70%
Face Value	$ 500,000,000			$ 500,000,000
Total	496,000,000				0
5.611% Senior Notes, due 2034 | Senior Notes | Fair Value
Debt Instrument [Line Items]
Total	$ 507,000,000				0
Secured Debt | 2024 Credit Agreement: | Line of Credit
Debt Instrument [Line Items]
Effective Interest Rate	6.60%	6.60%
Face Value	$ 225,000,000		$ 225,000,000
Total	224,000,000				0
Secured Debt | 2024 Credit Agreement: | Line of Credit | Fair Value
Debt Instrument [Line Items]
Total	$ 225,000,000				0
Secured Debt | Delayed Draw Term Loan | Line of Credit
Debt Instrument [Line Items]
Effective Interest Rate	6.60%	6.60%
Face Value	$ 250,000,000
Total	250,000,000				250,000,000
Secured Debt | Delayed Draw Term Loan | Line of Credit | Fair Value
Debt Instrument [Line Items]
Total	$ 250,000,000				250,000,000
Revolving Credit Facility | Revolving Credit Facility | Line of Credit
Debt Instrument [Line Items]
Effective Interest Rate	8%	8%
Total	$ 0				0
Revolving Credit Facility | Revolving Credit Facility | Line of Credit | Fair Value
Debt Instrument [Line Items]
Total	$ 0				$ 0

LONG-TERM DEBT - Summary of Ann

LONG-TERM DEBT - Summary of Annual Repayment for Debt Obligations (Details) $ in Millions	Dec. 31, 2024 USD ($)
Debt Disclosure [Abstract]
2025	$ 500
2026	750
2027	770
2028	1,250
2029	225
Thereafter	500
Total	$ 3,995

LONG-TERM DEBT - Narrative (Det

LONG-TERM DEBT - Narrative (Details)			3 Months Ended	12 Months Ended	16 Months Ended
	Mar. 14, 2024 USD ($)	Mar. 11, 2024 USD ($)	Jun. 30, 2023 USD ($)	Dec. 31, 2024 USD ($)	Dec. 31, 2024 USD ($)	Dec. 31, 2024 EUR (€)	Dec. 31, 2023 USD ($)	Aug. 15, 2022 USD ($)
Debt Instrument [Line Items]
Total unamortized debt issuance costs				$ 15,000,000	$ 15,000,000		$ 15,000,000
Letters of credit outstanding				931,000,000	931,000,000		$ 855,000,000
Line of Credit
Debt Instrument [Line Items]
Maximum borrowing capacity				1,750,000,000	1,750,000,000
Letters of credit outstanding				$ 0	0
Senior Notes
Debt Instrument [Line Items]
Redemption price, percent				100%
Delayed Draw Term Loan | Line of Credit
Debt Instrument [Line Items]
Aggregate borrowing amount				$ 750,000,000	$ 750,000,000
4.375% Senior Notes, due 2023 | Senior Notes
Debt Instrument [Line Items]
Stated interest rate							4.375%
Revolving Credit Facility | Line of Credit
Debt Instrument [Line Items]
Interest coverage ratio				3
Leverage ratio				3.5	3.5	3.5
4.15% Senior Notes, due 2024 | Senior Notes
Debt Instrument [Line Items]
Stated interest rate				4.15%	4.15%	4.15%
Stated interest rate decreased					0.25%
3.20% Senior Notes, due 2025 | Senior Notes
Debt Instrument [Line Items]
Debt instrument, face vale				$ 500,000,000	$ 500,000,000
Stated interest rate				3.20%	3.20%	3.20%
3.45% Senior Notes, due 2026 | Senior Notes
Debt Instrument [Line Items]
Debt instrument, face vale				$ 750,000,000	$ 750,000,000
Stated interest rate				3.45%	3.45%	3.45%
1.25% Senior Notes (EUR), due 2027 | Senior Notes
Debt Instrument [Line Items]
Debt instrument, face vale | €						€ 500,000,000
Stated interest rate				1.25%	1.25%	1.25%
4.70% Senior Notes, due 2028 | Senior Notes
Debt Instrument [Line Items]
Debt instrument, face vale				$ 1,250,000,000	$ 1,250,000,000
Stated interest rate				4.70%	4.70%	4.70%
Stated interest rate decreased					0.25%
5.611% Senior Notes, due 2034 | Senior Notes
Debt Instrument [Line Items]
Debt instrument, face vale		$ 500,000,000		$ 500,000,000	$ 500,000,000
Stated interest rate		5.611%		5.611%	5.611%	5.611%
Redemption price, percent		100%
Debt issuance costs, gross		$ 5,000,000
2024 Notes Plus | Senior Notes
Debt Instrument [Line Items]
Repayments of debt			$ 25,000,000
Secured Debt | 2024 Credit Agreement: | Line of Credit
Debt Instrument [Line Items]
Debt instrument, face vale	$ 225,000,000			$ 225,000,000	$ 225,000,000
Debt instrument, basis spread on variable rate				1.75%
Interest rate at period rate				6%	6%	6%
Debt Instrument, Variable Interest Rate, Type [Extensible Enumeration]				Base Rate [Member]
Interest coverage ratio	3
Leverage ratio	3.5
Leverage ratio calculation, restricted cash amount	$ 300,000,000
Secured Debt | Delayed Draw Term Loan | Line of Credit
Debt Instrument [Line Items]
Debt instrument, face vale				$ 250,000,000	$ 250,000,000
Maximum borrowing capacity				250,000,000	250,000,000			$ 250,000,000
Letters of credit outstanding				$ 0	$ 0
Secured Debt | Delayed Draw Term Loan | 2024 Credit Agreement:
Debt Instrument [Line Items]
Interest rate at period rate				6%	6%	6%
Revolving Credit Facility | Delayed Draw Term Loan
Debt Instrument [Line Items]
Maximum borrowing capacity								$ 1,500,000,000
Weighted average interest rate on variable rate debt				5.70%	5.70%	5.70%
Revolving Credit Facility | Delayed Draw Term Loan | Line of Credit
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate				1.75%
Debt Instrument, Variable Interest Rate, Type [Extensible Enumeration]				Base Rate [Member]
Revolving Credit Facility | Revolving Credit Facility | Line of Credit
Debt Instrument [Line Items]
Maximum borrowing capacity				$ 1,500,000,000	$ 1,500,000,000
Letters of credit outstanding				0	0
Line of Credit | Uncommited Money Market Line Credit Agreement
Debt Instrument [Line Items]
Maximum borrowing capacity				$ 150,000,000	$ 150,000,000

LONG-TERM DEBT - Schedule of Li

LONG-TERM DEBT - Schedule of Line of Credit Facilities (Details) - USD ($)	Dec. 31, 2024	Dec. 31, 2023	Aug. 15, 2022
Debt Instrument [Line Items]
Outstanding Borrowings	$ (250,000,000)
Letters of Credit Under Credit Agreement	(931,000,000)	$ (855,000,000)
Current Availability	1,500,000,000
Line of Credit
Debt Instrument [Line Items]
Maximum Availability	1,750,000,000
Letters of Credit Under Credit Agreement	0
Revolving Credit Facility | Revolving Credit Facility
Debt Instrument [Line Items]
Outstanding Borrowings	0
Current Availability	1,500,000,000
Revolving Credit Facility | Revolving Credit Facility | Line of Credit
Debt Instrument [Line Items]
Maximum Availability	1,500,000,000
Letters of Credit Under Credit Agreement	0
Revolving Credit Facility | Delayed Draw Term Loan
Debt Instrument [Line Items]
Maximum Availability			$ 1,500,000,000
Secured Debt | Delayed Draw Term Loan
Debt Instrument [Line Items]
Outstanding Borrowings	(250,000,000)
Current Availability	0
Secured Debt | Delayed Draw Term Loan | Line of Credit
Debt Instrument [Line Items]
Maximum Availability	250,000,000		$ 250,000,000
Letters of Credit Under Credit Agreement	$ 0

EMPLOYEE BENEFIT PLANS - Summar

EMPLOYEE BENEFIT PLANS - Summary of Obligations and Funded Status (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Change in plan assets
Fair value of plan assets at beginning of year	$ 266
Fair value of plan assets at end of year	256	$ 266
Fair value of plan assets	256	266
Amounts recognized in the statement of financial position consist of:
Noncurrent liabilities	(58)	(62)
U.S. | Defined Benefit Pension Plans
Change in projected benefit obligation
Obligation at beginning of year	(55)	(29)
Service cost	0	0	$ 0
Interest cost	(3)	(2)	(1)
Employee contributions	0	0
Plan settlements, curtailments and amendments	0	1
Benefits paid	4	4
Acquisition	0	(29)
Actuarial gain (loss)	2	0
Effect of currency rate changes	0	0
Obligation at end of year	(52)	(55)	(29)
Change in plan assets
Fair value of plan assets at beginning of year	55	31
Actual return on plan assets	1	2
Employer contributions	0	0
Employee contributions	0	0
Benefits paid	(4)	(4)
Settlements and other	0	0
Acquisition	0	26
Effect of currency rate changes	0	0
Fair value of plan assets at end of year	52	55	31
Fair value of plan assets	52	55	31
Benefit obligations	(52)	(55)	(29)
Funded status	0	0
Amounts recognized in the statement of financial position consist of:
Noncurrent assets	0	0
Current liabilities	0	0
Noncurrent liabilities	0	0
Net amount recognized	0	0
Amounts recognized in Accumulated other comprehensive loss, before tax at December 31, consist of:
Prior service cost	0	0
Net actuarial loss	(13)	(14)
Net amount recognized	(13)	(14)
International | Defined Benefit Pension Plans
Change in projected benefit obligation
Obligation at beginning of year	(251)	(236)
Service cost	(3)	(3)	(3)
Interest cost	(11)	(11)	(6)
Employee contributions	(1)	(1)
Plan settlements, curtailments and amendments	1	1
Benefits paid	13	14
Acquisition	0	0
Actuarial gain (loss)	17	(5)
Effect of currency rate changes	10	(10)
Obligation at end of year	(225)	(251)	(236)
Change in plan assets
Fair value of plan assets at beginning of year	211	201
Actual return on plan assets	10	10
Employer contributions	5	6
Employee contributions	1	1
Benefits paid	(13)	(14)
Settlements and other	(1)	(1)
Acquisition	0	0
Effect of currency rate changes	(9)	8
Fair value of plan assets at end of year	204	211	201
Fair value of plan assets	204	211	201
Benefit obligations	(225)	(251)	$ (236)
Funded status	(21)	(40)
Amounts recognized in the statement of financial position consist of:
Noncurrent assets	29	13
Current liabilities	(2)	(2)
Noncurrent liabilities	(48)	(51)
Net amount recognized	(21)	(40)
Amounts recognized in Accumulated other comprehensive loss, before tax at December 31, consist of:
Prior service cost	(1)	(1)
Net actuarial loss	(44)	(64)
Net amount recognized	$ (45)	$ (65)

EMPLOYEE BENEFIT PLANS - Narrat

EMPLOYEE BENEFIT PLANS - Narrative (Details) - USD ($) shares in Thousands, $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Defined Benefit Plan Disclosure [Line Items]
Costs recognized under defined contribution plans	$ 65	$ 60	$ 55
Number of shares held on behalf of participants (in shares)	329	355
Market value of the shares held on behalf of participants	$ 62	$ 45
U.S. | Defined Benefit Pension Plans
Defined Benefit Plan Disclosure [Line Items]
Aggregate accumulated benefit obligation	$ 52	55
U.S. | Defined Benefit Pension Plans | Equity
Defined Benefit Plan Disclosure [Line Items]
Target asset allocation (as a percent)	15%
U.S. | Defined Benefit Pension Plans | Debt Securities
Defined Benefit Plan Disclosure [Line Items]
Target asset allocation (as a percent)	85%
International | Defined Benefit Pension Plans
Defined Benefit Plan Disclosure [Line Items]
Aggregate accumulated benefit obligation	$ 214	$ 241
International | Defined Benefit Pension Plans | Equity
Defined Benefit Plan Disclosure [Line Items]
Target asset allocation (as a percent)	12%
International | Defined Benefit Pension Plans | Debt Securities
Defined Benefit Plan Disclosure [Line Items]
Target asset allocation (as a percent)	24%
International | Defined Benefit Pension Plans | Other Investments
Defined Benefit Plan Disclosure [Line Items]
Target asset allocation (as a percent)	64%

EMPLOYEE BENEFIT PLANS - Summ_2

EMPLOYEE BENEFIT PLANS - Summary of International Pension Plans with Accumulated Benefit Obligations and with Projected Benefit Obligations in Excess of Plan Assets (Details) - International - Defined Benefit Pension Plans - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023
Information for pension plans with accumulated benefit obligations in excess of Plan assets:
Projected benefit obligation	$ (74)	$ (185)
Accumulated benefit obligation	(65)	(178)
Fair value of plan assets	25	133
Information for pension plans with projected benefit obligations in excess of plan assets:
Projected benefit obligation	(79)	(194)
Accumulated benefit obligation	(69)	(185)
Fair value of plan assets	$ 29	$ 141

EMPLOYEE BENEFIT PLANS - Summ_3

EMPLOYEE BENEFIT PLANS - Summary of Components of Net Periodic Benefit Costs (Details) - Defined Benefit Pension Plans - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
U.S.
Defined Benefit Plan Disclosure [Line Items]
Service cost	$ 0	$ 0	$ 0
Interest cost	3	2	1
Expected return on plan assets	(3)	(2)	(1)
Amortization of net loss	0	0	1
Settlement and curtailment gains recognized	0	(1)	0
Net periodic benefit (income) cost	0	(1)	1
International
Defined Benefit Plan Disclosure [Line Items]
Service cost	3	3	3
Interest cost	11	11	6
Expected return on plan assets	(11)	(10)	(12)
Amortization of net loss	3	3	2
Settlement and curtailment gains recognized	0	0	(1)
Net periodic benefit (income) cost	$ 6	$ 7	$ (2)

EMPLOYEE BENEFIT PLANS - Summ_4

EMPLOYEE BENEFIT PLANS - Summary of Weighted Average Assumptions Used to Develop Actuarial Present Value of Projected Benefit Obligation (Details) - Defined Benefit Pension Plans	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
U.S.
Defined Benefit Plan Disclosure [Line Items]
Discount rate	5.70%	5.25%	5.58%
Expected return on plan assets	4.50%	3.80%	3.80%
Rate of compensation increase	3%	3%	3%
International
Defined Benefit Plan Disclosure [Line Items]
Discount rate	4.68%	4.38%	4.77%
Expected return on plan assets	5.53%	5.09%	4.25%
Rate of compensation increase	2.92%	2.88%	2.78%

EMPLOYEE BENEFIT PLANS - Summ_5

EMPLOYEE BENEFIT PLANS - Summary of Pension Plan Assets by Asset Category (Details) - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	$ 256	$ 266
U.S. | Equity
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	8	3
U.S. | Debt Securities
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	42	35
U.S. | Cash and cash equivalents and other
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	2	17
U.S. | Defined Benefit Pension Plans
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	52	55	$ 31
U.S. | Defined Benefit Pension Plans | Equity
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	8	3
U.S. | Defined Benefit Pension Plans | Debt Securities
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	42	35
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	2	17
International | Equity
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	59	56
International | Debt Securities
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	118	129
International | Insurance contracts
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	11	12
International | Cash and cash equivalents and other
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	16	14
International | Defined Benefit Pension Plans
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	204	211	$ 201
International | Defined Benefit Pension Plans | Equity
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	59	56
International | Defined Benefit Pension Plans | Debt Securities
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	118	129
International | Defined Benefit Pension Plans | Insurance contracts
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	11	12
International | Defined Benefit Pension Plans | Cash and cash equivalents and other
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	$ 16	$ 14

EMPLOYEE BENEFIT PLANS - Summ_6

EMPLOYEE BENEFIT PLANS - Summary of Pension Plan Assets Measured at Fair Value (Details) - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	$ 256	$ 266
NAV
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	6	6
Level 1
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	42	48
Level 2
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	200	204
Level 3
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	8	8
Equity | U.S.
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	8	3
Equity | International
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	59	56
Equity | NAV | U.S.
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0	0
Equity | NAV | International
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	6	6
Equity | Level 1 | U.S.
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	8	3
Equity | Level 1 | International
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	14	14
Equity | Level 2 | U.S.
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0	0
Equity | Level 2 | International
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	39	36
Equity | Level 3 | U.S.
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0	0
Equity | Level 3 | International
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	42	35
Debt Securities | International
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	118	129
Debt Securities | NAV | U.S.
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0	0
Debt Securities | NAV | International
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	9	5
Debt Securities | Level 1 | International
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	3	3
Debt Securities | Level 2 | U.S.
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	33	30
Debt Securities | Level 2 | International
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	115	126
Debt Securities | Level 3 | U.S.
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0	0
Debt Securities | Level 3 | International
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0	0
Cash and cash equivalents and other | U.S.
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	2	17
Cash and cash equivalents and other | International
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	16	14
Cash and cash equivalents and other | NAV | U.S.
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0	0
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 | U.S.
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	2	17
Cash and cash equivalents and other | Level 1 | International
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	6	6
Cash and cash equivalents and other | Level 2 | U.S.
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0	0
Cash and cash equivalents and other | Level 2 | International
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	10	8
Cash and cash equivalents and other | Level 3 | U.S.
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0	0
Cash and cash equivalents and other | 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	11	12
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	3	4
Insurance Contracts | Level 3 | International
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	$ 8	$ 8

EMPLOYEE BENEFIT PLANS - Summ_7

EMPLOYEE BENEFIT PLANS - Summary of Benefit Payments Expected to be Paid to Plan Participants (Details) - Defined Benefit Pension Plans $ in Millions	Dec. 31, 2024 USD ($)
U.S.
Defined Benefit Plan Disclosure [Line Items]
2025	$ 4
2026	4
2027	4
2028	4
2029	4
2030 through 2034	20
International
Defined Benefit Plan Disclosure [Line Items]
2025	15
2026	15
2027	16
2028	16
2029	17
2030 through 2034	$ 86

INCOME TAXES - Summary of Compo

INCOME TAXES - Summary of Components of Income from Operations before Provision for Income Taxes (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Income Tax Disclosure [Abstract]
Domestic	$ 782	$ 506	$ 372
Foreign	628	586	482
Income before income taxes	$ 1,410	$ 1,092	$ 854

INCOME TAXES - Summary of Conso

INCOME TAXES - Summary of Consolidated Provision for Income Taxes (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Current tax expense
Federal	$ 106	$ 148	$ 37
State	26	29	3
Foreign	160	148	137
Current taxes	292	325	177
Deferred tax expense (benefit)
Federal	26	(50)	29
State	9	1	0
Foreign	16	(9)	7
Deferred taxes	51	(58)	36
Total provision	$ 343	$ 267	$ 213

INCOME TAXES - Summary of Recon

INCOME TAXES - Summary of Reconciliation of Income Tax Rate (Details)	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Income Tax Disclosure [Abstract]
U.S. federal statutory rate	21%	21%	21%
State taxes	1.80%	1.50%	2%
Foreign	3.10%	2%	3.80%
Research and development credit	(0.70%)	(0.60%)	(0.80%)
Non-taxable gain on acquisition	0%	(0.80%)	0%
U.S. net operating loss carryback	(1.00%)	0%	0%
Changes in valuation allowances	(0.40%)	1%	(2.00%)
U.S. tax reform provision	0.50%	0.60%	0.10%
Other, net	0%	(0.20%)	0.90%
Effective rate	24.30%	24.50%	25%

INCOME TAXES - Summary of Com_2

INCOME TAXES - Summary of Components of Deferred Tax Assets and Liabilities (Details) - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023
Deferred income tax assets:
Accrued expenses and reserves	$ 38	$ 50
Warranty reserve	53	49
Deferred compensation/employee benefits	92	77
Right-of-use assets	74	78
Pension and postretirement obligations	13	16
Inventory	39	49
Deferred revenue	93	84
Net operating loss carry forwards	106	124
Other	50	51
Gross deferred income tax assets	558	578
Less: Valuation allowance	(52)	(58)
Total deferred income tax assets	506	520
Deferred income tax liabilities:
Property, plant & equipment	64	64
Right-of-use liabilities	71	75
Intangible assets	663	610
Total deferred income tax liabilities	798	749
Net deferred income tax liability	$ 292	$ 229

INCOME TAXES - Narrative (Detai

INCOME TAXES - Narrative (Details) - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Operating Loss Carryforwards [Line Items]
Valuation allowance	$ 52	$ 58
Net operating loss carry-forwards	373
Unrecognized tax benefits	19	40	$ 33	$ 32
Unrecognized tax benefits if recognized that would affect effective tax rate	18	27
Accrued interest	13	$ 13
Unrecognized tax benefits subject to change within the next 12 months	14
Indefinite
Operating Loss Carryforwards [Line Items]
Net operating loss carry-forwards	141
Within Ten Years
Operating Loss Carryforwards [Line Items]
Net operating loss carry-forwards	103
Between December 31, 2034 To December 31, 2043
Operating Loss Carryforwards [Line Items]
Net operating loss carry-forwards	$ 129

INCOME TAXES - Summary of Liabi

INCOME TAXES - Summary of Liability for Income Taxes Associated with Uncertain Tax Positions (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Unrecognized Tax Benefits [Roll Forward]
Balance at beginning of year	$ 40	$ 33	$ 32
Unrecognized tax benefits in prior periods	3	13	1
Audit settlement during year	(22)	(5)	0
Expiration of audit statute of limitations	(2)	(1)	0
Balance at end of year	$ 19	$ 40	$ 33

EARNINGS PER SHARE - Summary of

EARNINGS PER SHARE - Summary of Computation of Earnings Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Numerator
Net income attributable to Wabtec shareholders	$ 1,056	$ 815	$ 633
Less: Net income allocated to non-vested restricted stock	(3)	(2)	(2)
Numerator for basic earnings per common share	1,053	813	631
Numerator for diluted earnings per common share	$ 1,053	$ 813	$ 631
Denominator
Weighted average shares outstanding - basic (in shares)	174,100	178,800	182,200
Weighted average shares outstanding - diluted (in shares)	174,800	179,500	182,800
Earnings per common share attributable to Wabtec shareholders
Basic (in dollars per share)	$ 6.05	$ 4.54	$ 3.46
Diluted (in dollars per share)	$ 6.04	$ 4.53	$ 3.46
Awards Excluding Restricted Stock
Denominator
Assumed conversion of dilutive stock-based compensation plans (in shares)	300	400	400
Restricted Stock
Denominator
Assumed conversion of dilutive stock-based compensation plans (in shares)	400	300	200

EARNINGS PER SHARE - Narrative

EARNINGS PER SHARE - Narrative (Details)	12 Months Ended
	Dec. 31, 2024
Earnings Per Share [Abstract]
Percent of income allocated to non-vested restricted stock	0.30%

STOCK-BASED COMPENSATION PLAN_2

STOCK-BASED COMPENSATION PLANS - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2026	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Stock-based compensation expense			$ 85	$ 59	$ 49
Unamortized compensation expense expected to be vested			$ 79
Unamortized compensation expense expected to be vested, period for recognition			1 year 4 months 24 days
Granted (in shares)			0	0	0
Exercisable Options, end of period (in shares)			172,196
Non-Vested Restricted Stock
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Stock-based compensation expense			$ 28
Restricted Stock Units (RSUs)
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Stock-based compensation expense			$ 19
Incentive Stock Awards
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Award vesting period			3 years
Stock-based compensation expense			$ 37
Share-based compensation, relative total stockholder return modifier, payment percentage, increase			10%
Share-based compensation, relative total stockholder return modifier, payment percentage, decrease			20%
Percentage of incentive stock awards expected to be vested and awarded of stocks granted			100%
Award achievement percentage			184%
Incentive Stock Awards | Scenario Forecast
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Award vesting period	3 years	3 years
Award achievement percentage	200%	181%
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%
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%
Plan 2011
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Number of shares available for grant			4,400,000
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 (in shares)			1,000,000
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 (in shares)			1,100,000
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 (in shares)			9,320	14,856	14,269
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 - Summary of Restricted Stock Activity and Incentive Stock Awards Activity (Details) - $ / shares	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Weighted Average Grant Date Fair Value
Outstanding, beginning of period (in dollars per share)	$ 93.65	$ 84.73	$ 78.06
Granted (in dollars per share)	142.55	104.70	91.19
Vested (in dollars per share)	87.23	81	75.14
Adjustment for incentive stock awards expected to vest (in dollars per share)	118.53	88.02	84.55
Canceled (in dollars per share)	105.98	93.44	76.84
Outstanding, end of period (in dollars per share)	$ 115.71	$ 93.65	$ 84.73
Restricted Stock and Units
Number of Awards
Outstanding, beginning of period (in shares)	760,569	689,420	507,698
Granted (in shares)	310,461	368,209	460,841
Vested (in shares)	(296,463)	(262,339)	(234,597)
Adjustment for incentive stock awards expected to vest (in shares)	0	0	0
Canceled (in shares)	(46,531)	(34,721)	(44,522)
Outstanding, end of period (in shares)	728,036	760,569	689,420
Incentive Stock Awards
Number of Awards
Outstanding, beginning of period (in shares)	692,732	744,844	607,101
Granted (in shares)	193,661	192,751	176,657
Vested (in shares)	(298,756)	(265,678)	(43,039)
Adjustment for incentive stock awards expected to vest (in shares)	313,519	31,011	45,301
Canceled (in shares)	(24,092)	(10,196)	(41,176)
Outstanding, end of period (in shares)	877,064	692,732	744,844

ACCUMULATED OTHER COMPREHENSI_3

ACCUMULATED OTHER COMPREHENSIVE LOSS (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	$ 10,524	$ 10,147	$ 10,239
Other comprehensive (loss) income before reclassifications	(254)	69	(197)
Amounts reclassified from Accumulated other comprehensive loss	(2)	2	2
Other comprehensive (loss) income, net	(256)	71	(195)
Other comprehensive (loss) income, net	(256)	71	(195)
Ending balance	10,133	10,524	10,147
Accumulated Other Comprehensive Loss
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	(590)	(661)	(466)
Other comprehensive (loss) income, net	(256)	71	(195)
Ending balance	(846)	(590)	(661)
Foreign currency translation
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	(541)	(596)	(396)
Other comprehensive (loss) income before reclassifications	(277)	55	(200)
Amounts reclassified from Accumulated other comprehensive loss	0	0	0
Other comprehensive (loss) income, net			(200)
Other comprehensive (loss) income, net	(277)	55
Ending balance	(818)	(541)	(596)
Derivative contracts
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	7	(9)	(5)
Other comprehensive (loss) income before reclassifications	10	16	(4)
Amounts reclassified from Accumulated other comprehensive loss	0	0	0
Other comprehensive (loss) income, net			(4)
Other comprehensive (loss) income, net	10	16
Ending balance	17	7	(9)
Pension and post retirement benefit plans
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	(56)	(56)	(65)
Other comprehensive (loss) income before reclassifications	13	(2)	7
Amounts reclassified from Accumulated other comprehensive loss	(2)	2	2
Other comprehensive (loss) income, net			9
Other comprehensive (loss) income, net	11	0
Ending balance	$ (45)	$ (56)	$ (56)

LEASES - Narrative (Details)

LEASES - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Leases [Abstract]
Operating lease expense	$ 71	$ 64	$ 60
New operating leases	$ 76	$ 37

LEASES - Summary of Maturity of

LEASES - Summary of Maturity of Lease Liabilities (Details) $ in Millions	Dec. 31, 2024 USD ($)
Operating Leases
2025	$ 63
2026	56
2027	45
2028	37
2029	30
Thereafter	114
Total lease payments	345
Less: Present value discount	(37)
Present value lease liabilities	$ 308
Operating Lease, Liability, Statement of Financial Position [Extensible List]	Other accrued liabilities

LEASES - Summary of Lease Term

LEASES - Summary of Lease Term and Discount Rate (Details)	Dec. 31, 2024	Dec. 31, 2023
Leases [Abstract]
Weighted-average remaining lease term (years)	7 years 10 months 24 days	7 years 9 months 18 days
Weighted-average discount rate	2.90%	2.40%

WARRANTIES (Details)

WARRANTIES (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Movement in Standard and Extended Product Warranty, Increase (Decrease) [Roll Forward]
Balance at beginning of year	$ 248	$ 242
Warranty expense	117	95
Warranty claim payments	(85)	(93)
Acquisitions	1	0
Foreign currency impact/other	(7)	4
Balance at end of year	$ 274	$ 248

FAIR VALUE MEASUREMENT AND DE_3

FAIR VALUE MEASUREMENT AND DERIVATIVE INSTRUMENTS - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Foreign Exchange Forward | Non-Designated
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Derivative term (in years)	1 year
Other Accrued Liabilities | General Electric Company | Level 3
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Contingent consideration, current	$ 0	$ 42

FAIR VALUE MEASUREMENT AND DE_4

FAIR VALUE MEASUREMENT AND DERIVATIVE INSTRUMENTS - Summary of Liabilities Carried at Fair Value Measured on Recurring Basis (Details) - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023
Designated
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Total	$ 3	$ 4
Gross Notional Amount	609	1,224
Non-Designated
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Total	0	0
Gross Notional Amount	197	310
Other current assets | Foreign Exchange Contracts | Designated
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Derivative assets at fair value	5	6
Gross Notional Amount	387	319
Other current assets | Foreign Exchange Contracts | Non-Designated
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Derivative assets at fair value	1	3
Gross Notional Amount	153	110
Other current assets | Interest Rate Contracts | Designated
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Derivative assets at fair value	2	10
Gross Notional Amount	40	250
Other current assets | Interest Rate Contracts | Non-Designated
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Derivative assets at fair value	0	0
Gross Notional Amount	0	0
Other current liabilities | Foreign Exchange Contracts | Designated
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Derivative liabilities at fair value	(4)	(12)
Gross Notional Amount	182	655
Other current liabilities | Foreign Exchange Contracts | Non-Designated
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Derivative liabilities at fair value	(1)	(3)
Gross Notional Amount	$ 44	$ 200

COMMITMENTS AND CONTINGENCIES (

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

SEGMENT INFORMATION - Narrative

SEGMENT INFORMATION - Narrative (Details)	12 Months Ended
	Dec. 31, 2024 segment
Segment Reporting [Abstract]
Number of reportable segments	2

SEGMENT INFORMATION - Summary o

SEGMENT INFORMATION - Summary of Segment Financial Information (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Segment Reporting Information [Line Items]
Total sales	$ 10,387	$ 9,677	$ 8,362
Cost of sales	(7,021)	(6,733)	(5,822)
Gross profit	3,366	2,944	2,540
Selling, general and administrative expenses	(1,248)	(1,139)	(1,029)
Engineering expenses	(206)	(218)	(209)
Amortization expense	(303)	(321)	(291)
Income (loss) from operations	1,609	1,266	1,011
Other income, net	2	44	29
Interest expense and other, net	(199)	(174)	(157)
Income before income taxes	1,410	1,092	854
Depreciation and amortization	503	531	479
Capital expenditures	207	186	149
Segment assets	18,702	18,988
Intersegment Eliminations
Segment Reporting Information [Line Items]
Total sales	(107)	(100)	(80)
Segment Reporting, Reconciling Item, Corporate Nonsegment
Segment Reporting Information [Line Items]
Total sales	0	0	0
Cost of sales	0	0	0
Gross profit	0	0	0
Selling, general and administrative expenses	(151)	(94)	(84)
Engineering expenses	0	0	0
Amortization expense	0	0	0
Income (loss) from operations	(151)	(94)	(84)
Interest expense and other, net	(199)	(174)	(157)
Income before income taxes	(350)	(268)	(241)
Depreciation and amortization	17	17	20
Capital expenditures	5	9	8
Segment assets	1,665	1,627
Freight Segment
Segment Reporting Information [Line Items]
Total sales	7,468	6,923	5,979
Freight Segment | Operating Segments
Segment Reporting Information [Line Items]
Total sales	7,468	6,923	5,979
Cost of sales	(4,945)	(4,742)	(4,090)
Gross profit	$ 2,523	$ 2,181	$ 1,889
Gross margin	33.80%	31.50%	31.60%
Selling, general and administrative expenses	$ (664)	$ (637)	$ (580)
Engineering expenses	(164)	(180)	(177)
Amortization expense	(273)	(299)	(272)
Income (loss) from operations	1,422	1,065	860
Interest expense and other, net	0	0	0
Income before income taxes	1,422	1,065	860
Depreciation and amortization	413	442	398
Capital expenditures	140	119	86
Segment assets	13,176	13,417
Freight Segment | Intersegment Eliminations
Segment Reporting Information [Line Items]
Total sales	48	58	48
Transit Segment
Segment Reporting Information [Line Items]
Total sales	2,919	2,754	2,383
Transit Segment | Operating Segments
Segment Reporting Information [Line Items]
Total sales	2,919	2,754	2,383
Cost of sales	(2,076)	(1,991)	(1,732)
Gross profit	$ 843	$ 763	$ 651
Gross margin	28.90%	27.70%	27.30%
Selling, general and administrative expenses	$ (433)	$ (408)	$ (365)
Engineering expenses	(42)	(38)	(32)
Amortization expense	(30)	(22)	(19)
Income (loss) from operations	338	295	235
Interest expense and other, net	0	0	0
Income before income taxes	338	295	235
Depreciation and amortization	73	72	61
Capital expenditures	62	58	55
Segment assets	3,861	3,944
Transit Segment | Intersegment Eliminations
Segment Reporting Information [Line Items]
Total sales	$ 59	$ 42	$ 32

SEGMENT INFORMATION - Summary_2

SEGMENT INFORMATION - Summary of Geographic Area Data (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Revenues From External Customers And Long Lived Assets [Line Items]
Net Sales	$ 10,387	$ 9,677	$ 8,362
Long-Lived Assets	1,447	1,485
North America
Revenues From External Customers And Long Lived Assets [Line Items]
Net Sales	5,815	5,431	4,475
Long-Lived Assets	968	978
United States
Revenues From External Customers And Long Lived Assets [Line Items]
Net Sales	4,924	4,553	3,734
Long-Lived Assets	927	948
Canada
Revenues From External Customers And Long Lived Assets [Line Items]
Net Sales	616	531	454
Long-Lived Assets	7	7
Mexico
Revenues From External Customers And Long Lived Assets [Line Items]
Net Sales	275	347	287
Long-Lived Assets	34	23
South America
Revenues From External Customers And Long Lived Assets [Line Items]
Net Sales	445	346	336
Long-Lived Assets	40	47
Europe
Revenues From External Customers And Long Lived Assets [Line Items]
Net Sales	1,814	1,644	1,446
Long-Lived Assets	242	253
Germany
Revenues From External Customers And Long Lived Assets [Line Items]
Net Sales	371	347	339
Long-Lived Assets	54	54
France
Revenues From External Customers And Long Lived Assets [Line Items]
Net Sales	369	346	273
Long-Lived Assets	59	58
United Kingdom
Revenues From External Customers And Long Lived Assets [Line Items]
Net Sales	296	248	213
Long-Lived Assets	33	44
Italy
Revenues From External Customers And Long Lived Assets [Line Items]
Net Sales	166	183	163
Long-Lived Assets	38	37
Other Europe
Revenues From External Customers And Long Lived Assets [Line Items]
Net Sales	612	520	458
Long-Lived Assets	58	60
India
Revenues From External Customers And Long Lived Assets [Line Items]
Net Sales	579	593	531
Long-Lived Assets	119	122
Kazakhstan / CIS
Revenues From External Customers And Long Lived Assets [Line Items]
Net Sales	559	457	399
Long-Lived Assets	34	39
Australia / New Zealand
Revenues From External Customers And Long Lived Assets [Line Items]
Net Sales	481	451	465
Long-Lived Assets	16	15
China
Revenues From External Customers And Long Lived Assets [Line Items]
Net Sales	242	286	244
Long-Lived Assets	25	28
Other Asia / Middle East
Revenues From External Customers And Long Lived Assets [Line Items]
Net Sales	258	240	183
Long-Lived Assets	0	0
Egypt
Revenues From External Customers And Long Lived Assets [Line Items]
Net Sales	28	120	164
Long-Lived Assets	0	0
Other Africa
Revenues From External Customers And Long Lived Assets [Line Items]
Net Sales	166	109	$ 119
Long-Lived Assets	$ 3	$ 3

SEGMENT INFORMATION - Summary_3

SEGMENT INFORMATION - Summary of Sales by Product (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Revenue from External Customer [Line Items]
Total sales	$ 10,387	$ 9,677	$ 8,362
Freight Segment
Revenue from External Customer [Line Items]
Total sales	7,468	6,923	5,979
Transit Segment
Revenue from External Customer [Line Items]
Total sales	2,919	2,754	2,383
Services
Revenue from External Customer [Line Items]
Total sales	1,953	2,030	1,903
Services | Freight Segment
Revenue from External Customer [Line Items]
Total sales	3,381	3,262	2,819
Equipment | Freight Segment
Revenue from External Customer [Line Items]
Total sales	2,108	1,794	1,547
Components | Freight Segment
Revenue from External Customer [Line Items]
Total sales	1,193	1,094	884
Digital Intelligence | Freight Segment
Revenue from External Customer [Line Items]
Total sales	786	773	729
Original Equipment Manufacturer | Transit Segment
Revenue from External Customer [Line Items]
Total sales	1,308	1,264	1,117
Aftermarket | Transit Segment
Revenue from External Customer [Line Items]
Total sales	$ 1,611	$ 1,490	$ 1,266

OTHER INCOME, NET - Summary of

OTHER INCOME, NET - Summary of Components of Other Income (Expense) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Other Income and Expenses [Abstract]
Foreign currency (loss) gain	$ (19)	$ (20)	$ 6
Equity income	8	25	17
Expected return on pension assets/amortization	11	7	7
Other miscellaneous income (expense)	2	32	(1)
Total Other income, net	$ 2	$ 44	$ 29

OTHER INCOME, NET - Narrative (

OTHER INCOME, NET - Narrative (Details) $ in Millions	Dec. 22, 2023 USD ($)
LKZ
Business Acquisition [Line Items]
Remeasurement gain	$ 35

RESTRUCTURING - Narrative (Deta

RESTRUCTURING - Narrative (Details) - USD ($) $ in Millions	3 Months Ended	12 Months Ended			36 Months Ended
	Dec. 31, 2024	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2024	Mar. 31, 2022
Restructuring Cost and Reserve [Line Items]
Restructuring charges		$ 28	$ 49	$ 46
Transit Segment
Restructuring Cost and Reserve [Line Items]
Restructuring charges		25	40	32
Freight Segment
Restructuring Cost and Reserve [Line Items]
Restructuring charges		3	9	$ 14
Integration 2.0
Restructuring Cost and Reserve [Line Items]
Restructuring charges	$ 146
Payments for restructuring		48	39
Integration 2.0 | Maximum
Restructuring Cost and Reserve [Line Items]
Total expected costs						$ 170
Portfolio Optimization
Restructuring Cost and Reserve [Line Items]
Total expected costs	$ 70	70			$ 70
Restructuring charges		28	$ 28		$ 56
Portfolio Optimization | Transit Segment
Restructuring Cost and Reserve [Line Items]
Restructuring charges		10
Portfolio Optimization | Freight Segment
Restructuring Cost and Reserve [Line Items]
Restructuring charges		$ 18

RESTRUCTURING - Schedule of Res

RESTRUCTURING - Schedule of Restructuring Charges (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Restructuring Cost and Reserve [Line Items]
Total Integration 2.0 restructuring charges	$ 28	$ 49	$ 46
Freight Segment
Restructuring Cost and Reserve [Line Items]
Total Integration 2.0 restructuring charges	3	9	14
Transit Segment
Restructuring Cost and Reserve [Line Items]
Total Integration 2.0 restructuring charges	$ 25	$ 40	$ 32
Cost of goods sold | Freight Segment
Restructuring Cost and Reserve [Line Items]
Restructuring Charges, Statement of Income or Comprehensive Income [Extensible Enumeration]	Cost of Goods and Services Sold	Cost of Goods and Services Sold	Cost of Goods and Services Sold
Total Integration 2.0 restructuring charges	$ 7	$ 4	$ 13
Cost of goods sold | Transit Segment
Restructuring Cost and Reserve [Line Items]
Restructuring Charges, Statement of Income or Comprehensive Income [Extensible Enumeration]	Cost of Goods and Services Sold	Cost of Goods and Services Sold	Cost of Goods and Services Sold
Total Integration 2.0 restructuring charges	$ 13	$ 25	$ 26
Selling, general and administrative expenses | Freight Segment
Restructuring Cost and Reserve [Line Items]
Restructuring Charges, Statement of Income or Comprehensive Income [Extensible Enumeration]	Selling, General and Administrative Expense	Selling, General and Administrative Expense	Selling, General and Administrative Expense
Total Integration 2.0 restructuring charges	$ 0	$ 5	$ 1
Selling, general and administrative expenses | Transit Segment
Restructuring Cost and Reserve [Line Items]
Restructuring Charges, Statement of Income or Comprehensive Income [Extensible Enumeration]	Selling, General and Administrative Expense	Selling, General and Administrative Expense	Selling, General and Administrative Expense
Total Integration 2.0 restructuring charges	$ 10	$ 13	$ 6
Other income, net | Freight Segment
Restructuring Cost and Reserve [Line Items]
Restructuring Charges, Statement of Income or Comprehensive Income [Extensible Enumeration]	Selling, General and Administrative Expense	Selling, General and Administrative Expense	Selling, General and Administrative Expense
Total Integration 2.0 restructuring charges	$ (4)	$ 0	$ 0
Amortization expense | Transit Segment
Restructuring Cost and Reserve [Line Items]
Restructuring Charges, Statement of Income or Comprehensive Income [Extensible Enumeration]	Amortization expense for intangible assets	Amortization expense for intangible assets	Amortization expense for intangible assets
Total Integration 2.0 restructuring charges	$ 2	$ 2	$ 0

SUBSEQUENT EVENTS (Details)

SUBSEQUENT EVENTS (Details) $ in Millions	Jan. 14, 2025 USD ($)
Subsequent Event | Inspection Technologies
Subsequent Event [Line Items]
Business combination, consideration transferred	$ 1,780

SCHEDULE II - VALUATION AND Q_2

SCHEDULE II - VALUATION AND QUALIFYING ACCOUNTS (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Allowance for doubtful accounts
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward]
Balance at beginning of period	$ 31	$ 28	$ 32
Charged to expense	11	8	4
Charged/ (credited) to other accounts	0	0	(1)
Deductions from reserves	(6)	(5)	(7)
Balance at end of period	36	31	28
Valuation allowance-taxes
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward]
Balance at beginning of period	58	46	64
Charged to expense	0	12	0
Charged/ (credited) to other accounts	0	0	0
Deductions from reserves	(6)	0	(18)
Balance at end of period	$ 52	$ 58	$ 46