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Financial Information for Subsidiary and Guarantor Parent (Tables)
 3 Months Ended
Mar. 31, 2018
Condensed Statement of Income Captions [Line Items]  
Balance Sheets
Balance Sheets
December 31, 2017
 
Guarantor
 
 
 
Non-guarantor
 
 
 
 
(In millions)
Parent
 
Subsidiary
 
Subsidiaries
 
Eliminations
 
Consolidated
Assets:
 
 
 
 
 
 
 
 
 
Cash and cash equivalents
$
2.1

 
$
13.5

 
$
126.0

 
$
—

 
$
141.6

Accounts receivable, net
0.2

 
141.6

 
403.5

 
—

 
545.3

Intercompany notes receivable
—

 
—

 
3,505.6

 
(3,505.6
)
 
—

Inventories, net
—

 
207.9

 
968.2

 
—

 
1,176.1

Prepaid expenses and other current assets
6.6

 
4.5

 
41.6

 
—

 
52.7

Total current assets
8.9

 
367.5

 
5,044.9

 
(3,505.6
)
 
1,915.7

Property, plant and equipment, net
0.9

 
1,581.6

 
913.2

 
—

 
2,495.7

Goodwill
—

 
—

 
531.4

 
—

 
531.4

Intercompany notes receivable
—

 
—

 
200.0

 
(200.0
)
 
—

Investment in subsidiaries
5,645.6

 
37.7

 
—

 
(5,683.3
)
 
—

Other assets
25.4

 
18.0

 
199.2

 
—

 
242.6

Total assets
$
5,680.8

 
$
2,004.8

 
$
6,888.7

 
$
(9,388.9
)
 
$
5,185.4

Liabilities and stockholders’ equity:
 
 
 
 
 
 
 
 
 
Accounts payable
$
3.0

 
$
180.3

 
$
236.8

 
$
—

 
$
420.1

Accrued liabilities
54.1

 
88.5

 
139.8

 
—

 
282.4

Intercompany notes payable
1,836.5

 
1,669.1

 
—

 
(3,505.6
)
 
—

Short-term debt and current portion of long-term debt
0.3

 
0.6

 
9.2

 
—

 
10.1

Total current liabilities
1,893.9

 
1,938.5

 
385.8

 
(3,505.6
)
 
712.6

Long-term debt
1,275.7

 
150.7

 
104.2

 
—

 
1,530.6

Intercompany notes payable
—

 
200.0

 
—

 
(200.0
)
 
—

Accrued postretirement benefits
—

 
250.2

 
67.6

 
—

 
317.8

Pension liabilities
644.3

 
4.4

 
48.3

 
—

 
697.0

Deferred income taxes
9.7

 
—

 
—

 
—

 
9.7

Other long-term liabilities
12.7

 
17.2

 
43.3

 
—

 
73.2

Total liabilities
3,836.3

 
2,561.0

 
649.2

 
(3,705.6
)
 
3,340.9

Total stockholders’ equity (deficit)
1,844.5

 
(556.2
)
 
6,239.5

 
(5,683.3
)
 
1,844.5

Total liabilities and stockholders’ equity
$
5,680.8

 
$
2,004.8

 
$
6,888.7

 
$
(9,388.9
)
 
$
5,185.4

Balance Sheets
March 31, 2018
(In millions)
Guarantor
Parent
 
Subsidiary
 
Non-guarantor
Subsidiaries
 
Eliminations
 
Consolidated
Assets:
 
 
 
 
 
 
 
 
 
Cash and cash equivalents
$
1.6

 
$
5.2

 
$
103.1

 
$
—

 
$
109.9

Accounts receivable, net
0.6

 
164.5

 
441.3

 
—

 
606.4

Intercompany notes receivable
—

 
—

 
3,648.8

 
(3,648.8
)
 
—

Short-term contract assets
—

 
—

 
38.6

 
—

 
38.6

Inventories, net
—

 
188.5

 
1,022.3

 
—

 
1,210.8

Prepaid expenses and other current assets
5.9

 
39.3

 
40.9

 
—

 
86.1

Total current assets
8.1

 
397.5

 
5,295.0

 
(3,648.8
)
 
2,051.8

Property, plant and equipment, net
0.9

 
1,559.8

 
930.0

 
—

 
2,490.7

Goodwill
—

 
—

 
534.2

 
—

 
534.2

Intercompany notes receivable
—

 
—

 
200.0

 
(200.0
)
 
—

Long-term contract assets
—

 
—

 
16.1

 
—

 
16.1

Investment in subsidiaries
5,853.1

 
37.7

 
—

 
(5,890.8
)
 
—

Other assets
27.0

 
33.5

 
196.7

 
—

 
257.2

Total assets
$
5,889.1

 
$
2,028.5

 
$
7,172.0

 
$
(9,739.6
)
 
$
5,350.0

Liabilities and stockholders’ equity:
 
 
 
 
 
 
 
 
 
Accounts payable
$
3.9

 
$
180.9

 
$
239.9

 
$
—

 
$
424.7

Accrued liabilities
29.8

 
64.7

 
110.8

 
—

 
205.3

Intercompany notes payable
1,957.0

 
1,691.8

 
—

 
(3,648.8
)
 
—

Short-term contract liabilities
—

 
29.1

 
37.1

 
—

 
66.2

Short-term debt and current portion of long-term debt
0.2

 
0.9

 
62.6

 
—

 
63.7

Total current liabilities
1,990.9

 
1,967.4

 
450.4

 
(3,648.8
)
 
759.9

Long-term debt
1,276.3

 
151.9

 
107.1

 
—

 
1,535.3

Intercompany notes payable
—

 
200.0

 
—

 
(200.0
)
 
—

Accrued postretirement benefits
—

 
247.9

 
63.5

 
—

 
311.4

Pension liabilities
635.1

 
4.3

 
47.8

 
—

 
687.2

Deferred income taxes
10.7

 
—

 
—

 
—

 
10.7

Long-term contract liabilities
—

 
—

 
19.7

 
—

 
19.7

Other long-term liabilities
12.8

 
17.0

 
32.7

 
—

 
62.5

Total liabilities
3,925.8

 
2,588.5

 
721.2

 
(3,848.8
)
 
3,386.7

Total stockholders’ equity (deficit)
1,963.3

 
(560.0
)
 
6,450.8

 
(5,890.8
)
 
1,963.3

Total liabilities and stockholders’ equity
$
5,889.1

 
$
2,028.5

 
$
7,172.0

 
$
(9,739.6
)
 
$
5,350.0
Statements of Operations and Comprehensive Income
Allegheny Technologies Incorporated
Financial Information for Subsidiary and Guarantor Parent
Statements of Income and Comprehensive Income
For the three months ended March 31, 2017  
(In millions)
Guarantor
Parent
 
Subsidiary
 
Non-guarantor
Subsidiaries
 
Eliminations
 
Consolidated
Sales
$
—

 
$
287.2

 
$
578.7

 
$
—

 
$
865.9

Cost of sales
4.0

 
255.6

 
481.5

 
—

 
741.1

Gross profit (loss)
(4.0
)
 
31.6

 
97.2

 
—

 
124.8

Selling and administrative expenses
20.1

 
9.5

 
28.3

 
—

 
57.9

Operating income (loss)
(24.1
)
 
22.1

 
68.9

 
—

 
66.9

Nonoperating retirement benefit expense
(8.1
)
 
(4.7
)
 
(0.8
)
 
—

 
(13.6
)
Interest income (expense), net
(38.6
)
 
(21.2
)
 
26.3

 
—

 
(33.5
)
Other income (loss) including equity in income of unconsolidated subsidiaries
93.9

 
0.5

 
2.8

 
(93.9
)
 
3.3

Income (loss) before income tax provision (benefit)
23.1

 
(3.3
)
 
97.2

 
(93.9
)
 
23.1

Income tax provision (benefit)
2.0

 
(1.1
)
 
35.5

 
(34.4
)
 
2.0

Net income (loss)
21.1

 
(2.2
)
 
61.7

 
(59.5
)
 
21.1

Less: Net income attributable to noncontrolling interests
—

 
—

 
3.6

 
—

 
3.6

Net income (loss) attributable to ATI
$
21.1

 
$
(2.2
)
 
$
58.1

 
$
(59.5
)
 
$
17.5

Comprehensive income (loss) attributable to ATI
$
45.4

 
$
(0.3
)
 
$
45.9

 
$
(51.2
)
 
$
39.8


Allegheny Technologies Incorporated
Financial Information for Subsidiary and Guarantor Parent
Statements of Income and Comprehensive Income
For the three months ended March 31, 2018  
(In millions)
Guarantor
Parent
 
Subsidiary
 
Non-guarantor
Subsidiaries
 
Eliminations
 
Consolidated
Sales
$
—

 
$
346.4

 
$
632.6

 
$
—

 
$
979.0

Cost of sales
4.1

 
323.2

 
503.1

 
—

 
830.4

Gross profit (loss)
(4.1
)
 
23.2

 
129.5

 
—

 
148.6

Selling and administrative expenses
23.7

 
10.3

 
33.1

 
—

 
67.1

Operating income (loss)
(27.8
)
 
12.9

 
96.4

 
—

 
81.5

Nonoperating retirement benefit expense
(3.1
)
 
(4.9
)
 
(0.3
)
 
—

 
(8.3
)
Interest income (expense), net
(33.0
)
 
(25.7
)
 
33.2

 
—

 
(25.5
)
Other income (loss) including equity in income of unconsolidated subsidiaries
129.4

 
16.8

 
0.5

 
(128.9
)
 
17.8

Income (loss) before income tax provision (benefit)
65.5

 
(0.9
)
 
129.8

 
(128.9
)
 
65.5

Income tax provision (benefit)
5.0

 
0.2

 
20.2

 
(20.4
)
 
5.0

Net income (loss)
60.5

 
(1.1
)
 
109.6

 
(108.5
)
 
60.5

Less: Net income attributable to noncontrolling interests
—

 
—

 
2.5

 
—

 
2.5

Net income (loss) attributable to ATI
$
60.5

 
$
(1.1
)
 
$
107.1

 
$
(108.5
)
 
$
58.0

Comprehensive income (loss) attributable to ATI
$
103.0

 
$
1.3

 
$
124.0

 
$
(134.7
)
 
$
93.6
Condensed Statements of Cash Flows
Condensed Statements of Cash Flows
For the three months ended March 31, 2017
(In millions)
Guarantor
Parent
 
Subsidiary
 
Non-guarantor
Subsidiaries
 
Eliminations
 
Consolidated
Cash flows provided by (used in) operating activities
$
(40.7
)
 
$
0.5

 
$
(70.0
)
 
$
—

 
$
(110.2
)
Investing Activities:
 
 
 
 
 
 
 
 
 
Purchases of property, plant and equipment
—

 
(8.7
)
 
(16.1
)
 
—

 
(24.8
)
Net receipts/(payments) on intercompany activity
—

 
—

 
(59.1
)
 
59.1

 
—

Asset disposals and other
—

 
0.1

 
2.5

 
—

 
2.6

Cash flows provided by (used in) investing activities
—

 
(8.6
)
 
(72.7
)
 
59.1

 
(22.2
)
Financing Activities:
 
 
 
 
 
 
 
 
 
Payments on long-term debt and capital leases
(0.1
)
 
(0.1
)
 
(0.1
)
 
—

 
(0.3
)
Net borrowings under credit facilities
—

 
—

 
67.7

 
—

 
67.7

Net receipts/(payments) on intercompany activity
45.6

 
13.5

 
—

 
(59.1
)
 
—

Shares repurchased for income tax withholding on share-based compensation
(4.8
)
 
—

 
—

 
—

 
(4.8
)
Cash flows provided by (used in) financing activities
40.7

 
13.4

 
67.6

 
(59.1
)
 
62.6

Increase (decrease) in cash and cash equivalents
$
—

 
$
5.3

 
$
(75.1
)
 
$
—

 
$
(69.8
)
Condensed Statements of Cash Flows
For the three months ended March 31, 2018  
(In millions)
Guarantor
Parent
 
Subsidiary
 
Non-guarantor
Subsidiaries
 
Eliminations
 
Consolidated
Cash flows provided by (used in) operating activities
$
(51.2
)
 
$
(36.1
)
 
$
40.2

 
$
—

 
$
(47.1
)
Investing Activities:
 
 
 
 
 
 
 
 
 
Purchases of property, plant and equipment
(0.4
)
 
(7.3
)
 
(33.9
)
 
—

 
(41.6
)
Net receipts/(payments) on intercompany activity
—

 
—

 
(88.1
)
 
88.1

 
—

Asset disposals and other
—

 
0.1

 
—

 
—

 
0.1

Cash flows provided by (used in) investing activities
(0.4
)
 
(7.2
)
 
(122.0
)
 
88.1

 
(41.5
)
Financing Activities:
 
 
 
 
 
 
 
 
 
Borrowings on long-term debt
—

 
—

 
6.4

 
—

 
6.4

Payments on long-term debt and capital leases
(0.1
)
 
(0.1
)
 
(1.1
)
 
—

 
(1.3
)
Net borrowings under credit facilities
—

 
—

 
50.9

 
—

 
50.9

Net receipts/(payments) on intercompany activity
57.7

 
30.4

 
—

 
(88.1
)
 
—

Sales to noncontrolling interests
—

 
4.7

 
2.7

 
—

 
7.4

Shares repurchased for income tax withholding on share-based compensation and other

(6.5
)
 
—

 
—

 
—

 
(6.5
)
Cash flows provided by (used in) financing activities
51.1

 
35.0

 
58.9

 
(88.1
)
 
56.9

Decrease in cash and cash equivalents
$
(0.5
)
 
$
(8.3
)
 
$
(22.9
)
 
$
—

 
$
(31.7
)