XML 54 R42.htm IDEA: XBRL DOCUMENT v3.7.0.1
Change in Accounting Principles (Details) - USD ($)
$ / shares in Units, $ in Millions
3 Months Ended
Mar. 31, 2017
Mar. 31, 2016
Jan. 01, 2017
Dec. 31, 2016
Dec. 31, 2015
Cost of products sold $ 523.3 $ 500.9      
Gross Profit 180.5 183.1      
Selling, general and administrative expenses 119.6 116.1      
Pension Settlement Charges 0.0 1.2      
Operating Income (Loss) 59.2 55.3      
Income (Loss) Before Income Taxes 53.6 94.9      
Provision (benefit) for income taxes 15.5 29.1      
Net Income 38.1 65.8      
Net Income (loss) attributable to The Timken Company $ 38.2 $ 65.9      
Basic earnings per share $ 0.49 $ 0.83      
Diluted earnings per share $ 0.48 $ 0.82      
Foreign currency translation adjustments $ 20.4 $ 15.3      
Pension and postretirement liability adjustment (net of the income tax benefit of $1.5 million) 0.1 0.4      
Other comprehensive income 19.7 13.4      
Comprehensive Income 57.8 79.2      
Less: comprehensive (loss) income attributable to noncontrolling interest 2.5 1.1      
Comprehensive Income attributable to The Timken Company 55.3 78.1      
Inventories, net 566.2     $ 553.7  
Total Current Assets 1,270.7     1,211.9  
Deferred Tax Assets, Net of Valuation Allowance, Noncurrent 50.7     51.4  
Total Other Assets 737.3     746.9  
Total Assets 2,815.6     2,763.2  
Earnings invested in the business 1,306.3     1,289.3  
Accumulated other comprehensive loss (60.8) (42.4)   (77.9) $ (54.6)
Total Shareholders' Equity 1,321.1     1,279.7  
Noncontrolling Interest 33.7     31.2  
Total Equity 1,354.8     1,310.9  
Deferred income tax provision 1.5 2.2      
Pension and other postretirement expense 7.2 4.9      
Scenario, Previous Accounting Guidance [Member]          
Cost of products sold 523.1        
Gross Profit 180.7        
Selling, general and administrative expenses 120.5        
Pension Settlement Charges 10.7        
Operating Income (Loss) 47.8        
Income (Loss) Before Income Taxes 42.2        
Provision (benefit) for income taxes 11.5        
Net Income 30.7        
Net Income (loss) attributable to The Timken Company $ 30.8        
Basic earnings per share $ 0.39        
Diluted earnings per share $ 0.39        
Foreign currency translation adjustments $ 20.4        
Pension and postretirement liability adjustment (net of the income tax benefit of $1.5 million) (7.5)        
Other comprehensive income 27.1        
Comprehensive Income 57.8        
Less: comprehensive (loss) income attributable to noncontrolling interest 2.5        
Comprehensive Income attributable to The Timken Company 55.3        
Inventories, net 558.3        
Total Current Assets 1,262.8        
Deferred Tax Assets, Net of Valuation Allowance, Noncurrent 53.7        
Total Other Assets 740.3        
Total Assets 2,810.7        
Earnings invested in the business 1,538.2        
Accumulated other comprehensive loss (297.5)        
Total Shareholders' Equity 1,316.3        
Noncontrolling Interest 33.6        
Total Equity 1,349.9        
Deferred income tax provision (2.5)        
Pension and other postretirement expense 18.6        
Scenario, Previously Reported [Member]          
Cost of products sold   503.1      
Gross Profit   180.9      
Selling, general and administrative expenses   118.3      
Pension Settlement Charges   1.2      
Operating Income (Loss)   50.9      
Income (Loss) Before Income Taxes   90.5      
Provision (benefit) for income taxes   27.6      
Net Income   62.9      
Net Income (loss) attributable to The Timken Company   $ 63.0      
Basic earnings per share   $ 0.79      
Diluted earnings per share   $ 0.78      
Foreign currency translation adjustments   $ 14.8      
Pension and postretirement liability adjustment (net of the income tax benefit of $1.5 million)   (3.7)      
Other comprehensive income   16.2      
Comprehensive Income   79.1      
Less: comprehensive (loss) income attributable to noncontrolling interest   1.0      
Comprehensive Income attributable to The Timken Company   78.1      
Inventories, net       545.8  
Total Current Assets       1,204.0  
Deferred Tax Assets, Net of Valuation Allowance, Noncurrent       54.4  
Total Other Assets       749.9  
Total Assets       2,758.3  
Earnings invested in the business       1,528.6  
Accumulated other comprehensive loss       (322.0)  
Total Shareholders' Equity       1,274.9  
Noncontrolling Interest       31.1  
Total Equity       1,306.0  
Deferred income tax provision   0.7      
Pension and other postretirement expense   9.3      
Restatement Adjustment [Member]          
Cost of products sold 0.2 (2.2)      
Gross Profit (0.2) 2.2      
Selling, general and administrative expenses (0.9) (2.2)      
Pension Settlement Charges (10.7) 0.0      
Operating Income (Loss) 11.4 4.4      
Income (Loss) Before Income Taxes 11.4 4.4      
Provision (benefit) for income taxes 4.0 1.5      
Net Income   2.9      
Net Income (loss) attributable to The Timken Company $ 7.4 $ 2.9      
Basic earnings per share $ 0.10 $ 0.04      
Diluted earnings per share $ 0.09 $ 0.04      
Foreign currency translation adjustments $ 0.0 $ 0.5      
Pension and postretirement liability adjustment (net of the income tax benefit of $1.5 million) 7.4 3.3      
Other comprehensive income (7.4) (2.8)      
Comprehensive Income 0.0 0.1      
Less: comprehensive (loss) income attributable to noncontrolling interest 0.0 0.1      
Comprehensive Income attributable to The Timken Company 0.0 0.0      
Inventories, net 7.9     7.9  
Total Current Assets 7.9     7.9  
Deferred Tax Assets, Net of Valuation Allowance, Noncurrent (3.0)     (3.0)  
Total Other Assets (3.0)     (3.0)  
Total Assets 4.9   $ 5.0 4.9  
Earnings invested in the business (231.9)   239.0 (239.3)  
Accumulated other comprehensive loss 236.7   $ 244.0 244.1  
Total Shareholders' Equity 4.8     4.8  
Noncontrolling Interest 0.1     0.1  
Total Equity 4.9     $ 4.9  
Deferred income tax provision 4.0 1.5      
Pension and other postretirement expense $ (11.4) $ (4.4)