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Equity (Tables)

6 Months Ended

Jun. 30, 2021

Jun. 30, 2020

Equity [Abstract]

The following tables present the changes in the components of equity for the three and six months ended June 30, 2021 and 2020, respectively:


						The Timken Company Shareholders
			Total			Stated Capital			Other Paid-In Capital			Retained Earnings			Accumulated Other Comprehensive Income (Loss)			Treasury Stock			Non controlling Interest
Balance at March 31, 2021			$	2,250.1		$	40.7		$	761.3		$	1,429.0		$	(2.1)		$	(53.4)		$	74.6
Net income			107.2									104.8									2.4
Foreign currency translation adjustment			23.2												23.8						(0.6)
Pension and other postretirement liability adjustments (net of income tax benefit of $0.5 million)			(1.7)												(1.7)

Change in fair value of derivative financial instruments, net of reclassifications			(0.2)												(0.2)
Dividends – $0.30 per share			(22.9)									(22.9)
Stock-based compensation expense			6.0						6.0

Stock option exercise activity			11.3						11.3

Payments related to tax withholding for stock-based compensation			(5.7)															(5.7)
Balance at June 30, 2021			$	2,367.3		$	40.7		$	778.6		$	1,510.9		$	19.8		$	(59.1)		$	76.4


						The Timken Company Shareholders
			Total			Stated Capital			Other Paid-In Capital			Retained Earnings			Accumulated Other Comprehensive Income (Loss)			Treasury Stock			Non controlling Interest
Balance at December 31, 2020			$	2,225.2		$	40.7		$	740.7		$	1,339.5		$	41.3		$	(9.3)		$	72.3
Net income			223.2									218.1									5.1
Foreign currency translation adjustment			(21.2)												(20.2)						(1.0)
Pension and other postretirement liability adjustments (net of income tax benefit of $1.1 million)			(3.3)												(3.3)
Change in fair value of derivative financial instruments, net of reclassifications			2.0												2.0
Dividends – $0.59 per share			(46.7)									(46.7)
Stock-based compensation expense			12.5						12.5
Stock purchased at fair market value			(26.3)															(26.3)
Stock option exercise activity			25.4						25.4

Payments related to tax withholding for stock-based compensation			(23.5)															(23.5)
Balance at June 30, 2021			$	2,367.3		$	40.7		$	778.6		$	1,510.9		$	19.8		$	(59.1)		$	76.4


						The Timken Company Shareholders
			Total			Stated Capital			Other Paid-In Capital			Retained Earnings			Accumulated Other Comprehensive (Loss)			Treasury Stock			Non controlling Interest
Balance at March 31, 2020			$	1,900.3		$	53.1		$	920.1		$	1,964.8		$	(118.9)		$	(1,001.7)		$	82.9
Net income (loss)			61.8									61.9									(0.1)
Foreign currency translation adjustment			24.5												23.3						1.2
Pension and other postretirement liability adjustments (net of income tax benefit of $0.5 million)			(1.5)												(1.5)
Unrealized loss on marketable securities			0.5												0.5
Change in fair value of derivative financial instruments, net of reclassifications			(2.6)												(2.6)

Dividends – $0.28 per share			(21.0)									(21.0)
Stock-based compensation expense			5.8						5.8

Restricted share activity			—						(1.5)									1.5
Payments related to tax withholding for stock-based compensation			(0.2)															(0.2)
Balance at June 30, 2020			$	1,967.6		$	53.1		$	924.4		$	2,005.7		$	(99.2)		$	(1,000.4)		$	84.0


						The Timken Company Shareholders
			Total			Stated Capital			Other Paid-In Capital			Retained Earnings			Accumulated Other Comprehensive (Loss)			Treasury Stock			Non controlling Interest
Balance at December 31, 2019			$	1,954.8		$	53.1		$	937.6		$	1,907.4		$	(50.1)		$	(979.8)		$	86.6
Cumulative effect of ASU 2016-13 (net of income tax benefit of $0.2 million)			(0.4)									(0.4)
Net income			145.8									142.6									3.2
Foreign currency translation adjustment			(54.3)												(48.0)						(6.3)
Pension and other postretirement liability adjustments (net of income tax benefit of $1.0 million)			(2.8)												(2.8)
Unrealized loss on marketable securities			0.1												0.1
Change in fair value of derivative financial instruments, net of reclassifications			1.6												1.6
Change in ownership of noncontrolling interest			0.5																		0.5
Dividends – $0.56 per share			(43.9)									(43.9)
Stock-based compensation expense			11.4						11.4
Stock purchased at fair market value			(42.3)															(42.3)
Stock option exercise activity			7.5						(0.9)									8.4
Restricted share activity			—						(23.7)									23.7
Payments related to tax withholding for stock-based compensation			(10.4)															(10.4)

Balance at June 30, 2020			$	1,967.6		$	53.1		$	924.4		$	2,005.7		$	(99.2)		$	(1,000.4)		$	84.0