WESTINGHOUSE AIR BRAKE TECHNOLOGIES CORPORATION (WAB) FY2026 Q1 Statement of Cash Flows

Income StatementCash FlowBalance Sheet

Statement of Cash Flows

2026-01-01 to 2026-03-31

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WESTINGHOUSE AIR BRAKE TECHNOLOGIES CORPORATION cash flow reconciliation, Jan 1, 2026 through Mar 31, 2026One connected Sankey reconciles operating, investing and financing net cash flows through a shared cash pool, from beginning cash to ending cash. Ribbons flow left to right on one dollar scale. Activity totals are dark gray; beginning and ending cash are blue. Cash basis for beginning and ending balances and net cash change: Cash, cash equivalents, and restricted cash. Intermediate calculation bars are lighter gray. Net income is green for profit and red for loss. Identified asset purchases, sales and maturities are blue in either cash direction. Orange marks positive customer-advance and deferred-revenue changes that add to operating cash in the reconciliation. These are net changes, not gross customer receipts. Negative changes are neutral reconciliation adjustments; they do not by themselves identify cash payments. Purple identifies capital transactions such as borrowing, repayments, share issuance and dividends. Free cash flow is a separate comparison, not an added cash flow. Read chart description and values below for full signed amounts, including zero items.Net income → Net cash from operating activities: $199,000,000.00Net income → Operating adjustments reconciliation: $164,000,000.00Depreciation and amortization → Operating adjustments reconciliation: $139,000,000.00Accrued income taxes → Operating adjustments reconciliation: $62,000,000.00Stock-based compensation expense → Operating adjustments reconciliation: $22,000,000.00Accounts payable → Operating adjustments reconciliation: $20,000,000.00Other accrued liabilities → Operating adjustments reconciliation: $12,000,000.00Operating adjustments reconciliation → Accounts receivable and unbilled accounts receivable: $305,000,000.00Operating adjustments reconciliation → Current and noncurrent customer deposits: $64,000,000.00Operating adjustments reconciliation → Inventories: $28,000,000.00Operating adjustments reconciliation → Other operating activities: $12,000,000.00Operating adjustments reconciliation → Below market intangible amortization: $10,000,000.00Proceeds from debt, net of issuance costs → financing reconciliation: $1,682,000,000.00financing reconciliation → Net cash from financing activities: $656,000,000.00financing reconciliation → Payments of debt: $670,000,000.00financing reconciliation → Repurchase of stock: $242,000,000.00financing reconciliation → Cash dividends: $53,000,000.00financing reconciliation → Payment of income tax withholding on share-based compensation: $53,000,000.00financing reconciliation → Other financing activities: $8,000,000.00Net cash used in investing activities → investing reconciliation: $1,105,000,000.00Other investing activities → investing reconciliation: $3,000,000.00investing reconciliation → Acquisitions of businesses, net of cash acquired: $1,062,000,000.00investing reconciliation → Purchase of property, plant and equipment: $46,000,000.00Beginning cash: Cash, cash equivalents, and restricted cash → Cash sources and uses: $789,000,000.00Net cash from operating activities → Cash sources and uses: $199,000,000.00Net cash from financing activities → Cash sources and uses: $656,000,000.00Cash sources and uses → Exchange-rate effect: $8,000,000.00Cash sources and uses → Ending cash: Cash, cash equivalents, and restricted cash: $531,000,000.00Cash sources and uses → Net cash used in investing activities: $1,105,000,000.00Net income: $363,000,000.00Net income+$363.00 MDepreciation and amortization: $139,000,000.00Depreciation & amortization+$139.00 MStock-based compensation expense: $22,000,000.00Stock-based compensation+$22.00 MBelow market intangible amortization: -$10,000,000.00Below-market intangible amort.−$10.00 MAccounts receivable and unbilled accounts receivable: -$305,000,000.00Accounts receivable−$305.00 MInventories: -$28,000,000.00Inventories−$28.00 MAccounts payable: $20,000,000.00Accounts payable+$20.00 MAccrued income taxes: $62,000,000.00Income taxes payable+$62.00 MOther accrued liabilities: $12,000,000.00Accrued liabilities+$12.00 MCurrent and noncurrent customer deposits: -$64,000,000.00Deferred revenue−$64.00 MOther operating activities: -$12,000,000.00Other working capital, net−$12.00 MNet cash from operating activities: $199,000,000.00Operating cash+$199.00 MOperating adjustments reconciliation: $419,000,000.00Proceeds from debt, net of issuance costs: $1,682,000,000.00Long-term debt issued, net+$1.68 BPayments of debt: -$670,000,000.00Debt & capital securities repaid−$670.00 MRepurchase of stock: -$242,000,000.00Common stock repurchases−$242.00 MCash dividends: -$53,000,000.00Common dividends paid−$53.00 MPayment of income tax withholding on share-based compensation: -$53,000,000.00Stock-award tax withholding−$53.00 MOther financing activities: -$8,000,000.00Other financing, net−$8.00 MNet cash from financing activities: $656,000,000.00Financing cash+$656.00 Mfinancing reconciliation: $1,682,000,000.00Purchase of property, plant and equipment: -$46,000,000.00PP&E purchases−$46.00 MAcquisitions of businesses, net of cash acquired: -$1,062,000,000.00Acquisitions, net of cash−$1.06 BOther investing activities: $3,000,000.00Other investing, net+$3.00 MNet cash used in investing activities: -$1,105,000,000.00. Cash required to fund net payments.Investing cash−$1.11 Binvesting reconciliation: $1,108,000,000.00Cash sources and uses: $1,644,000,000.00Beginning cash: Cash, cash equivalents, and restricted cash: $789,000,000.00Beginning cash$789.00 MEnding cash: Cash, cash equivalents, and restricted cash: $531,000,000.00Ending cash$531.00 MExchange-rate effect: -$8,000,000.00FX effect−$8.00 MCASH RECONCILIATIONOperatingflowsFinancingflowsInvestingflowsFree cash flow$153.00 MOperating cash − cash spent on PP&ECash flow / Net income0.55×Operating cash flow ÷ net incomeNet cash change−$258.00 MEnding cash − beginning cash
Chart details

WESTINGHOUSE AIR BRAKE TECHNOLOGIES CORPORATION cash flow reconciliation, Jan 1, 2026 through Mar 31, 2026

Cash flows for Jan 1, 2026 through Mar 31, 2026. Cash basis: Cash, cash equivalents, and restricted cash. Beginning cash: Dec 31, 2025. Ending cash: Mar 31, 2026. Beginning and ending cash are dated balances. Positive cash flows add cash; negative cash flows reduce it.

Beginning cash on Dec 31, 2025
789,000,000 US dollars. Beginning cash: Cash, cash equivalents, and restricted cash
Operating activities
199,000,000 US dollars. Net cash provided.
Net income
363,000,000 US dollars
Depreciation and amortization
139,000,000 US dollars
Stock-based compensation expense
22,000,000 US dollars
Below market intangible amortization
negative 10,000,000 US dollars
Accounts receivable and unbilled accounts receivable
negative 305,000,000 US dollars
Inventories
negative 28,000,000 US dollars
Accounts payable
20,000,000 US dollars
Accrued income taxes
62,000,000 US dollars
Other accrued liabilities
12,000,000 US dollars
Current and noncurrent customer deposits
negative 64,000,000 US dollars
Other operating activities
negative 12,000,000 US dollars
Investing activities
negative 1,105,000,000 US dollars. Net cash used.
Purchase of property, plant and equipment
negative 46,000,000 US dollars
Acquisitions of businesses, net of cash acquired
negative 1,062,000,000 US dollars
Other investing activities
3,000,000 US dollars
Financing activities
656,000,000 US dollars. Net cash provided.
Proceeds from debt, net of issuance costs
1,682,000,000 US dollars
Payments of debt
negative 670,000,000 US dollars
Repurchase of stock
negative 242,000,000 US dollars
Cash dividends
negative 53,000,000 US dollars
Payment of income tax withholding on share-based compensation
negative 53,000,000 US dollars
Other financing activities
negative 8,000,000 US dollars
Operating adjustment reconciliation
419,000,000 US dollars. Intermediate calculation joining the operating reconciliation branches. Its gross amount includes any portion of net income routed through this junction. It is not an additional cash source or use.
financing gross reconciliation
1,682,000,000 US dollars. Gross amount at the activity's junction before offsetting its receipts and deductions. It is not an additional cash source or use.
investing gross reconciliation
1,108,000,000 US dollars. Gross amount at the activity's junction before offsetting its receipts and deductions. It is not an additional cash source or use.
Exchange-rate effect
negative 8,000,000 US dollars
Ending cash on Mar 31, 2026
531,000,000 US dollars. Ending cash: Cash, cash equivalents, and restricted cash
Cash sources and uses
1,644,000,000 US dollars. Opening cash plus net sources, equal to net uses plus ending cash.
Net cash change
negative 258,000,000 US dollars. Ending cash minus beginning cash.
Cash flow / Net income
0.55×. Operating cash flow divided by reconciliation net income for the same period. Black from 0.90× through 1.10×; green above 1.10×; red below 0.90×. Color uses the unrounded ratio.
Operating cash flow
199,000,000 US dollars. Operating cash flow used in the free cash flow calculation.
Cash purchases of property, plant and equipment
46,000,000 US dollars. These cash purchases are already included in investing activities above.
Free cash flow
153,000,000 US dollars. A supplemental measure; finance-lease payments are excluded from this definition.

Chart connections

  • Beginning cash plus operating, investing and financing cash flows plus the exchange-rate effect equals ending cash. Negative amounts reduce cash.
  • Financing contributions meet at a reconciliation junction before connecting to the net cash total.
  • Investing contributions meet at a reconciliation junction before connecting to the net cash total.
  • Operating reconciliation adjustments are not all independent cash receipts.
  • Net income exceeds operating cash. The diagram allocates $199.00M of net income directly to operating cash and $164.00M to the adjustment junction, where it combines with other additions to reconcile deductions. This is an accounting presentation, not a tracing of cash receipts.
  • Each activity has one net cash bar connected to the shared cash pool. Positive activity totals enter the pool; negative activity totals leave the pool to fund that activity's net payments. The central pool does not assign a particular funding source to a particular payment.
  • The intermediate calculation bars include both sides of the displayed activity breakdowns; they are not additional cash flows.
  • Operating cash flow minus cash purchases of property, plant and equipment equals free cash flow: 199,000,000 US dollars minus 46,000,000 US dollars equals 153,000,000 US dollars.
WESTINGHOUSE AIR BRAKE TECHNOLOGIES CORPORATION (WAB) FY2026 Q1 Statement of Cash Flows Sankey chart
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