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Income Tax Provision (Tables)
6 Months Ended
Jun. 30, 2022
Income Tax Disclosure [Abstract]  
Schedule of (Benefit) Provision for Income Taxes

TimkenSteelā€™s provision for income taxes in interim periods is computed by applying the appropriate estimated annual effective tax rates to income or loss before income taxes for the period. In addition, non-recurring or discrete items, including interest on prior-year tax liabilities, are recorded during the periods in which they occur.

 

 

Three Months Ended June 30,

 

 

Six Months Ended June 30,

 

 

 

2022

 

 

2021

 

 

2022

 

 

2021

 

Provision (benefit) for incomes taxes

 

$

1.5

 

 

$

1.4

 

 

$

2.4

 

 

$

1.6

 

Effective tax rate

 

 

2.0

%

 

 

2.5

%

 

 

2.1

%

 

 

2.4

%