XML 30 R20.htm IDEA: XBRL DOCUMENT v3.22.2
Equity
6 Months Ended
Jun. 30, 2022
Equity [Abstract]  
Equity
Note 13 - Equity
The following tables present the changes in the components of equity for the three and six months ended June 30, 2022 and 2021, respectively:

  The Timken Company Shareholders 
 TotalStated
Capital
Other
Paid-In
Capital
Retained EarningsAccumulated
Other
Comprehensive
Loss
Treasury
Stock
Non
controlling
Interest
Balance at March 31, 2022$2,355.0 $40.7 $795.4 $1,711.1 $(42.5)$(233.6)$83.9 
Net income105.6 105.0 0.6 
Foreign currency translation adjustment(113.1)(114.2)1.1 
Pension and other postretirement liability
   adjustments (net of income tax benefit
   of $0.5 million)
(1.4)(1.4)
Change in fair value of derivative financial
   instruments, net of reclassifications
2.2 2.2 
Dividends – $0.31 per share
(22.9)(22.9)
Stock-based compensation expense8.5 8.5 
Stock purchased at fair market value(44.3)(44.3)
Stock option exercise activity0.2 0.2 
Payments related to tax withholding for
   stock-based compensation
(0.6)(0.6)
Balance at June 30, 2022$2,289.2 $40.7 $804.1 $1,793.2 $(155.9)$(278.5)$85.6 

  The Timken Company Shareholders 
 TotalStated
Capital
Other
Paid-In
Capital
Retained EarningsAccumulated
Other
Comprehensive
Loss
Treasury
Stock
Non
controlling
Interest
Balance at December 31, 2021$2,377.7 $40.7 $786.9 $1,616.4 $(23.0)$(126.1)$82.8 
Net income227.5 223.2 4.3 
Foreign currency translation adjustment(135.7)(134.2)(1.5)
Pension and other postretirement liability
   adjustments (net of income tax benefit
   of $1.0 million)
(2.9)(2.9)
Change in fair value of derivative financial
   instruments, net of reclassifications
4.2 4.2 
Dividends - $0.61 per share
(46.4)(46.4)
Stock-based compensation expense15.6 15.6 
Stock purchased at fair market value(144.3)(144.3)
Stock option exercise activity1.6 1.6 
Payments related to tax withholding for
   stock-based compensation
(8.1)(8.1)
Balance at June 30, 2022$2,289.2 $40.7 $804.1 $1,793.2 $(155.9)$(278.5)$85.6 
Note 13 - Equity (continued)
  The Timken Company Shareholders 
 TotalStated
Capital
Other
Paid-In
Capital
Retained EarningsAccumulated
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 income107.2 104.8 2.4 
Foreign currency translation adjustment23.2 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 expense6.0 6.0 
Stock option exercise activity11.3 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 
 TotalStated
Capital
Other
Paid-In
Capital
Retained EarningsAccumulated
Other
Comprehensive
Income
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 income223.2 218.1 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 expense12.5 12.5 
Stock purchased at fair market value(26.3)(26.3)
Stock option exercise activity25.4 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