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Business Segments
9 Months Ended
Sep. 30, 2011
Segment Reporting Disclosure [Abstract] 
Business Segments
Note 10. Business Segments
            
Following is certain financial information with respect to the Company's business segments for the periods
indicated (in millions):
            
 Three Months Ended Nine Months Ended
 September 30, September 30,
 2011 2010 2011 2010
Total sales:           
High Performance Metals$ 557.9 $ 362.3 $ 1,515.6 $ 1,035.8
Flat-Rolled Products  697.0   626.3   2,151.8   1,767.6
Engineered Products  139.2   104.9   406.3   300.9
   1,394.1   1,093.5   4,073.7   3,104.3
Intersegment sales:           
High Performance Metals  23.2   17.9   84.3   47.3
Flat-Rolled Products  7.4   7.1   24.3   16.5
Engineered Products  10.9   9.7   33.5   30.3
   41.5   34.7   142.1   94.1
Sales to external customers:           
High Performance Metals  534.7   344.4   1,431.3   988.5
Flat-Rolled Products  689.6   619.2   2,127.5   1,751.1
Engineered Products  128.3   95.2   372.8   270.6
 $ 1,352.6 $ 1,058.8 $ 3,931.6 $ 3,010.2
            
Operating profit (loss):           
High Performance Metals$ 95.7 $ 72.0 $ 274.2 $ 194.3
Flat-Rolled Products  58.8   (11.8)   195.9   61.7
Engineered Products  7.3   2.8   27.5   12.5
Total operating profit  161.8   63.0   497.6   268.5
            
Corporate expenses  (20.9)   (13.4)   (72.5)   (40.7)
Interest expense, net  (23.4)   (16.4)   (70.1)   (46.4)
Other expense, net of gains on asset sales  (2.9)   (1.2)   (7.6)   (10.9)
Retirement benefit expense  (19.2)   (22.5)   (57.9)   (67.4)
Income before income taxes$ 95.4 $ 9.5 $ 289.5 $ 103.1

The operating results of ATI Ladish are included in the High Performance Metals segment from the May 9, 2011 acquisition date. Assets in the High Performance Metals segment, including goodwill and identifiable intangible assets, increased by approximately $1.2 billion as a result of the Ladish acquisition.

 

       Retirement benefit expense represents defined benefit plan pension expense, and other postretirement benefit expense for both defined benefit and defined contribution plans. Operating profit with respect to the Company's business segments excludes any retirement benefit expense.

 

       Corporate expenses for the three months ended September 30, 2011 were $20.9 million compared to $13.4 million for the three months ended September 30, 2010. The increase in corporate expenses was primarily related to higher incentive compensation expenses associated with long-term performance plans.

 

       Other expense, net of gains on asset sales, primarily includes charges incurred in connection with closed operations and other non-operating income or expense. These items are presented primarily in selling and administrative expenses and in other expense in the statement of operations. These items resulted in net charges of $2.9 million for the three months ended September 30, 2011 and $1.2 million for the three months ended September 30, 2010. This increase was primarily related to greater environmental and other expenses at closed operations.