EX-99.1 2 ny20048743x2_ex99-1.htm EXHIBIT 99.1

Exhibit 99.1

GUARANTOR SUMMARIZED FINANCIAL INFORMATION
Westinghouse Air Brake Technologies Corporation (the “Parent Company”) has issued 3.20% Senior Notes due 2025, 3.45% Senior Notes due 2026, 4.70% Senior Notes due 2028 and 5.611% Senior Notes due 2034 (collectively, the “US Notes”).
The obligations under the US Notes issued by the Parent Company have been fully and unconditionally guaranteed by certain of the Parent Company’s U.S. subsidiaries (“Guarantor Subsidiaries”), currently comprising GE Transportation, a Wabtec Company, RFPC Holding Corp., Transportation IP Holdings, LLC, Transportation Systems Services Operations Inc., Wabtec Components LLC, Wabtec Holding, LLC, Wabtec Railway Electronics Holdings, LLC, Wabtec Transportation Systems, LLC and Wabtec US Rail, Inc.  Each Guarantor Subsidiary is 100% owned by the Parent Company, with the exception of GE Transportation, a Wabtec Company, which has 15,000 shares outstanding of Class A Non-Voting Preferred Stock held by General Electric Company.
The following tables present summarized financial information of the Parent Company and the Guarantor Subsidiaries on a combined basis. The combined summarized financial information eliminates (i) intercompany balances and transactions among the Parent Company and Guarantor Subsidiaries and (ii) equity in earnings from and investments in any subsidiary that is not a Guarantor Subsidiary.
The summarized financial information is provided in accordance with the reporting requirements of Rule 13-01 under SEC Regulation S-X for the Parent Company, as issuer of the US Notes, and Guarantor Subsidiaries.
Summarized Statement of Income
   
   
Unaudited

Parent Company and Guarantor Subsidiaries
 
In millions
 
Three Months Ended
March 31, 2025
   
Year Ended
December 31, 2024
 
Net sales
 
$
1,532
   
$
5,949
 
Gross profit
 
$
661
   
$
1,796
 
Net income (loss) attributable to Wabtec shareholders
 
$
33
   
$
(104
)
                 

Summarized Balance Sheet
   
Unaudited

Parent Company and Guarantor Subsidiaries
 
             
In millions
 
March 31, 2025
   
December 31, 2024
 
Current assets
 
$
1,448
   
$
1,624
 
Noncurrent assets
 
$
3,504
   
$
3,500
 
Current liabilities
 
$
2,352
   
$
2,278
 
Long-term debt
 
$
2,963
   
$
2,962
 
Other non-current liabilities
 
$
681
   
$
738
 

1

The following is a description of the transactions between the combined Parent Company and Guarantor Subsidiaries with non-guarantor subsidiaries.
       
   
Unaudited

Parent Company and Guarantor Subsidiaries
 
In millions
 
Three Months Ended
March 31, 2025
   
Year Ended
December 31, 2024
 
Net sales to Non-Guarantor Subsidiaries
 
$
243
   
$
875
 
Purchases from Non-Guarantor Subsidiaries
 
$
267
   
$
1,170
 

   
Unaudited

Parent Company and Guarantor Subsidiaries
 
             
In millions
 
March 31, 2025
   
December 31, 2024
 
Amount due to Non-Guarantor Subsidiaries
 
$
7,655
   
$
7,872
 
                 

2