Westinghouse Air Brake Technologies (WAB) Financial History

The indentures for our outstanding Senior Notes and the agreements governing certain of our credit facilities contains various covenants that limit our management’s discretion in the operation of our businesses.

At December 31, 2025, we had total debt of $5.5 billion, primarily related to Senior Notes and credit agreements.

We collectively bargain with labor unions at some of our operations throughout the world.

The security and functionality of our information technology systems, and the process of data by these systems, are critical to our business operations.

nature and degree of such legislation, the consistency (or lack of consistency) of legislation across jurisdictions in which we operate, and the extent to which such regulation and legislation applies to our industry.

We are subject to a variety of stringent environmental laws and regulations governing air emissions, discharges into water, chemical substances in products, the use, handling, storage, and disposal of hazardous substa…

business, such as a change in the current tariff structures, export compliance or other trade policies, may adversely affect our business.

In the ordinary course of business, we are exposed to increases in interest rates that may adversely affect funding costs associated with variable-rate debt and changes in foreign currency exchange rates.

Although we believe that our recent acquisitions will improve our market position and realize positive operating results, including operating synergies, operating expense reductions and overhead cost savings, we canno…

Our ability to make, move, and sell our products is critical to our success.

Our backlog represents future production and estimated potential revenue attributable to firm contracts with, or written orders from, our customers for delivery in various periods.

In recent years, the global transportation landscape has been characterized by rapid changes in technology, leading to innovative developments in transportation and logistics that could change the way the railway indu…

decreased revenues and increased capital, insurance or operating costs, including the increased costs of security to protect the Company’s infrastructure, among other results.

We are subject to a variety of increasingly stringent environmental laws and regulations governing air emissions, discharges into water, chemical substances in products, the use, handling, storage, and disposal of haz…

In the ordinary course of business, we are exposed to increases in interest rates that may adversely affect funding costs associated with variable-rate debt and changes in foreign currency exchange rates.

•the complexities of operating within multiple tax jurisdictions;

Although we believe that our recent acquisitions will improve our market position and realize positive operating results, including operating synergies, operating expense reductions and overhead cost savings, we canno…

economic slowdown caused by the COVID-19 pandemic did not result in any material cancellations of the Company's backlog, it did impact the timing of some orders in backlog as, in certain cases, the delivery of goods a…

sufficient number of employees with the necessary skills to replace these employees.

Potential regulation addressing climate change may affect the Company's operations and products in certain jurisdictions.

As a global transportation company, we generate export sales from our U.S.

•the complexities of operating within multiple tax jurisdictions and potentially material impacts associated with changes in applicable tax laws;

•reliance on transition services agreements;

Further, we regularly implement organization changes and streamlining, such as divestitures and realignments, to support our growth and cost management strategies and to encourage efficiencies.

As a result of our acquisitions from time to time, we have goodwill recorded on our balance sheet.