Financial Information for Subsidiary and Guarantor Parent (Tables)

12 Months Ended

Dec. 31, 2014

Financial Information for Subsidiary and Guarantor Parent [Abstract]

Schedule of condensed consolidating balance sheets

Allegheny Technologies Incorporated

Financial Information for Subsidiary and Guarantor Parent

Balance Sheets

December 31, 2013

(In millions)	Guarantor Parent		Subsidiary		Non-guarantor Subsidiaries		Eliminations			Consolidated
Assets:
Cash and cash equivalents	$	3.6	$	13.5	$	1,009.7	$	—		$	1,026.8
Accounts receivable, net	0.3		179.4		348.5		—			528.2
Intercompany notes receivable	—		—		1,589.4		(1,589.4		)	—
Inventories, net	—		295.5		1,026.6		—			1,322.1
Prepaid expenses and other current assets	26.2		6.5		41.0		—			73.7
Total current assets	30.1		494.9		4,015.2		(1,589.4		)	2,950.8
Property, plant and equipment, net	2.9		1,397.5		1,473.7		—			2,874.1
Cost in excess of net assets acquired	—		112.1		615.8		—			727.9
Intercompany notes receivable	—		—		200.0		(200.0		)	—
Investments in subsidiaries	6,170.8		37.7		—		(6,208.5		)	—
Other assets	35.7		32.0		278.0		—			345.7
Total assets	$	6,239.5	$	2,074.2	$	6,582.7	$	(7,997.9	)	$	6,898.5
Liabilities and stockholders’ equity:
Accounts payable	$	3.1	$	310.5	$	158.2	$	—		$	471.8
Accrued liabilities	51.6		56.6		207.6		—			315.8
Intercompany notes payable	825.6		763.8		—		(1,589.4		)	—
Deferred income taxes	3.5		—		—		—			3.5
Short-term debt and current portion of long-term debt	402.9		0.1		16.9		—			419.9
Total current liabilities	1,286.7		1,131.0		382.7		(1,589.4		)	1,211.0
Long-term debt	1,350.8		150.4		26.2		—			1,527.4
Intercompany notes payable	—		200.0		—		(200.0		)	—
Accrued postretirement benefits	—		179.7		262.7		—			442.4
Pension liabilities	323.0		5.6		39.6		—			368.2
Deferred income taxes	206.6		—		—		—			206.6
Other long-term liabilities	77.7		20.2		50.3		—			148.2
Total liabilities	3,244.8		1,686.9		761.5		(1,789.4		)	3,903.8
Total stockholders’ equity	2,994.7		387.3		5,821.2		(6,208.5		)	2,994.7
Total liabilities and stockholders’ equity	$	6,239.5	$	2,074.2	$	6,582.7	$	(7,997.9	)	$	6,898.5

Allegheny Technologies Incorporated

Financial Information for Subsidiary and Guarantor Parent

Balance Sheets

December 31, 2014

(In millions)	Guarantor Parent		Subsidiary		Non-guarantor Subsidiaries		Eliminations			Consolidated
Assets:
Cash and cash equivalents	$	2.2	$	13.8	$	253.5	$	—		$	269.5
Accounts receivable, net	0.1		209.1		394.4		—			603.6
Intercompany notes receivable	—		—		2,390.8		(2,390.8		)	—
Inventories, net	—		387.7		1,085.1		—			1,472.8
Prepaid expenses and other current assets	63.7		13.2		59.3		—			136.2
Total current assets	66.0		623.8		4,183.1		(2,390.8		)	2,482.1
Property, plant and equipment, net	2.2		1,545.1		1,414.5		—			2,961.8
Cost in excess of net assets acquired	—		126.6		653.8		—			780.4
Intercompany notes receivable	—		—		200.0		(200.0		)	—
Investments in subsidiaries	6,149.4		37.7		—		(6,187.1		)	—
Other assets	23.7		28.0		306.6		—			358.3
Total assets	$	6,241.3	$	2,361.2	$	6,758.0	$	(8,777.9	)	$	6,582.6
Liabilities and stockholders’ equity:
Accounts payable	$	4.5	$	302.0	$	250.2	$	—		$	556.7
Accrued liabilities	47.5		72.0		203.7		—			323.2
Intercompany notes payable	1,232.6		1,158.2		—		(2,390.8		)	—
Deferred income taxes	62.2		—		—		—			62.2
Short-term debt and current portion of long-term debt	0.5		0.1		17.2		—			17.8
Total current liabilities	1,347.3		1,532.3		471.1		(2,390.8		)	959.9
Long-term debt	1,350.6		150.3		8.2		—			1,509.1
Intercompany notes payable	—		200.0		—		(200.0		)	—
Accrued postretirement benefits	—		153.0		262.8		—			415.8
Pension liabilities	675.5		6.0		57.8		—			739.3
Deferred income taxes	80.9		—		—		—			80.9
Other long-term liabilities	77.7		22.5		56.0		—			156.2
Total liabilities	3,532.0		2,064.1		855.9		(2,590.8		)	3,861.2
Redeemable noncontrolling interest	—		—		12.1		—			12.1
Total stockholders’ equity	2,709.3		297.1		5,890.0		(6,187.1		)	2,709.3
Total liabilities and stockholders’ equity	$	6,241.3	$	2,361.2	$	6,758.0	$	(8,777.9	)	$	6,582.6

Schedule of condensed consolidating statements of operations

Allegheny Technologies Incorporated

Financial Information for Subsidiary and Guarantor Parent

Statements of Operations

For the year ended December 31, 2014

(In millions)	Guarantor Parent			Subsidiary			Non-guarantor Subsidiaries			Eliminations			Consolidated
Sales	$	—		$	1,878.0		$	2,345.4		$	—		$	4,223.4
Cost of sales	45.3			1,874.8			1,924.7			—			3,844.8
Selling and administrative expenses	103.9			44.0			124.6			—			272.5
Income (loss) before interest, other income and income taxes	(149.2		)	(40.8		)	296.1			—			106.1
Interest income (expense), net	(111.0		)	(44.9		)	47.2			—			(108.7		)
Other income (expense) including equity in income of unconsolidated subsidiaries	261.7			1.1			2.9			(261.6		)	4.1
Income (loss) from continuing operations before income taxes	1.5			(84.6		)	346.2			(261.6		)	1.5
Income tax provision (benefit)	(8.7		)	(29.3		)	116.7			(87.4		)	(8.7		)
Income (loss) from continuing operations	10.2			(55.3		)	229.5			(174.2		)	10.2
Income (loss) from discontinued operations, net of tax	(0.6		)	—			(0.6		)	0.6			(0.6		)
Net income (loss)	9.6			(55.3		)	228.9			(173.6		)	9.6
Less: Net income attributable to noncontrolling interest	—			—			12.2			—			12.2
Net income (loss) attributable to ATI	$	9.6		$	(55.3	)	$	216.7		$	(173.6	)	$	(2.6	)

Allegheny Technologies Incorporated

Financial Information for Subsidiary and Guarantor Parent

Statements of Operations

For the year ended December 31, 2013

(In millions)	Guarantor Parent			Subsidiary			Non-guarantor Subsidiaries		Eliminations			Consolidated
Sales	$	—		$	1,769.4		$	2,274.1	$	—		$	4,043.5
Cost of sales	75.2			1,748.8			1,966.9		—			3,790.9
Selling and administrative expenses	124.3			34.9			117.2		—			276.4
Restructuring costs	1.1			15.7			50.7		—			67.5
Income (loss) before interest, other income and income taxes	(200.6		)	(30.0		)	139.3		—			(91.3		)
Interest income (expense), net	(63.4		)	(37.2		)	35.4		—			(65.2		)
Other income (expense) including equity in income of unconsolidated subsidiaries	109.2			0.9			0.8		(109.2		)	1.7
Income (loss) from continuing operations before income taxes	(154.8		)	(66.3		)	175.5		(109.2		)	(154.8		)
Income tax provision (benefit)	(63.6		)	(20.0		)	40.4		(20.4		)	(63.6		)
Income (loss) from continuing operations	(91.2		)	(46.3		)	135.1		(88.8		)	(91.2		)
Income (loss) from discontinued operations, net of tax	252.8			—			252.8		(252.8		)	252.8
Net income (loss)	161.6			(46.3		)	387.9		(341.6		)	161.6
Less: Net income attributable to noncontrolling interest	—			—			7.6		—			7.6
Net income (loss) attributable to ATI	$	161.6		$	(46.3	)	$	380.3	$	(341.6	)	$	154.0

Allegheny Technologies Incorporated

Financial Information for Subsidiary and Guarantor Parent

Statements of Operations

For the year ended December 31, 2012

(In millions)	Guarantor Parent			Subsidiary			Non-guarantor Subsidiaries			Eliminations			Consolidated
Sales	$	—		$	2,031.8		$	2,635.1		$	—		$	4,666.9
Cost of sales	57.0			1,888.2			2,096.2			—			4,041.4
Selling and administrative expenses	144.2			42.6			134.8			—			321.6
Income (loss) before interest, other income and income taxes	(201.2		)	101.0			404.1			—			303.9
Interest expense, net	(60.7		)	(10.5		)	(0.4		)	—			(71.6		)
Other income (expense) including equity in income of unconsolidated subsidiaries	494.2			(21.5		)	31.8			(504.5		)	—
Income (loss) from continuing operations, before income taxes	232.3			69.0			435.5			(504.5		)	232.3
Income tax provision (benefit)	72.4			27.5			168.7			(196.2		)	72.4
Income (loss) from continuing operations	159.9			41.5			266.8			(308.3		)	159.9
Income (loss) from discontinued operations, net of tax	7.9			—			7.9			(7.9		)	7.9
Net income (loss)	167.8			41.5			274.7			(316.2		)	167.8
Less: Net income (loss) attributable to noncontrolling interest	—			—			9.4			—			9.4
Net income (loss) attributable to ATI	$	167.8		$	41.5		$	265.3		$	(316.2	)	$	158.4

Schedule of condensed consolidating comprehensive income

Allegheny Technologies Incorporated

Financial Information for Subsidiary and Guarantor Parent

Statements of Comprehensive Income

For the year ended December 31, 2013

(In millions)	Guarantor Parent			Subsidiary			Non-guarantor Subsidiaries		Eliminations			Consolidated
Net income (loss)	$	161.6		$	(46.3	)	$	387.9	$	(341.6	)	$	161.6
Other comprehensive income (loss)
Currency translation adjustment arising during the period	15.3			—			15.3		(15.3		)	15.3
Unrealized holding gain (loss) on securities	0.1			—			0.1		(0.1		)	0.1
Net derivative loss on hedge transactions	(6.9		)	—			—		—			(6.9		)
Pension and postretirement benefits	311.1			22.0			27.6		(49.6		)	311.1
Other comprehensive income (loss), net of tax	319.6			22.0			43.0		(65.0		)	319.6
Comprehensive income (loss)	481.2			(24.3		)	430.9		(406.6		)	481.2
Less: Comprehensive income attributable to noncontrolling interest	—			—			11.0		—			11.0
Comprehensive income (loss) attributable to ATI	$	481.2		$	(24.3	)	$	419.9	$	(406.6	)	$	470.2

Allegheny Technologies Incorporated

Financial Information for Subsidiary and Guarantor Parent

Statements of Comprehensive Income

For the year ended December 31, 2012

(In millions)	Guarantor Parent			Subsidiary			Non-guarantor Subsidiaries			Eliminations			Consolidated
Net income (loss)	$	167.8		$	41.5		$	274.7		$	(316.2	)	$	167.8
Other comprehensive income (loss)
Currency translation adjustment arising during the period	14.3			—			14.3			(14.3		)	14.3
Net derivative loss on hedge transactions	(2.8		)	—			—			—			(2.8		)
Pension and postretirement benefits	(97.4		)	(18.1		)	(5.1		)	23.2			(97.4		)
Other comprehensive income (loss), net of tax	(85.9		)	(18.1		)	9.2			8.9			(85.9		)
Comprehensive income (loss)	81.9			23.4			283.9			(307.3		)	81.9
Less: Comprehensive income attributable to noncontrolling interest	—			—			11.3			—			11.3
Comprehensive income (loss) attributable to ATI	$	81.9		$	23.4		$	272.6		$	(307.3	)	$	70.6

Allegheny Technologies Incorporated

Financial Information for Subsidiary and Guarantor Parent

Statements of Comprehensive Income

For the year ended December 31, 2014

(In millions)	Guarantor Parent			Subsidiary			Non-guarantor Subsidiaries			Eliminations			Consolidated
Net income (loss)	$	9.6		$	(55.3	)	$	228.9		$	(173.6	)	$	9.6
Other comprehensive income (loss)
Currency translation adjustment arising during the period	(33.6		)	—			(33.6		)	33.6			(33.6		)
Net derivative gain on hedge transactions	25.9			—			—			—			25.9
Pension and postretirement benefits	(212.6		)	1.8			(28.4		)	26.6			(212.6		)
Other comprehensive income (loss), net of tax	(220.3		)	1.8			(62.0		)	60.2			(220.3		)
Comprehensive income (loss)	(210.7		)	(53.5		)	166.9			(113.4		)	(210.7		)
Less: Comprehensive income attributable to noncontrolling interest	—			—			10.1			—			10.1
Comprehensive income (loss) attributable to ATI	$	(210.7	)	$	(53.5	)	$	156.8		$	(113.4	)	$	(220.8	)

Schedule of condensed consolidating statements of cash flow

Condensed Statements of Cash Flows

For the year ended December 31, 2014

(In millions)	Guarantor Parent			Subsidiary			Non-guarantor Subsidiaries			Eliminations			Consolidated
Cash flows provided by (used in) operating activities	$	(66.9	)	$	(313.8	)	$	436.6		$	—		$	55.9
Investing Activities:
Purchases of property, plant and equipment	(0.1		)	(170.8		)	(54.8		)	—			(225.7		)
Net receipts (payments) on intercompany activity	—			—			(1,027.7		)	1,027.7			—
Purchases of businesses, net of cash acquired	—			—			(92.9		)	—			(92.9		)
Asset disposals and other	—			1.7			0.7			—			2.4
Cash flows provided by (used in) investing activities	(0.1		)	(169.1		)	(1,174.7		)	1,027.7			(316.2		)
Financing Activities:
Payments on long-term debt and capital leases	(397.9		)	(0.1		)	(16.9		)	—			(414.9		)
Net receipts (payments) on intercompany activity	544.4			483.3			—			(1,027.7		)	—
Dividends paid to stockholders	(77.1		)	—			—			—			(77.1		)
Other	(3.8		)	—			(1.2		)	—			(5.0		)
Cash flows provided by (used in) financing activities	65.6			483.2			(18.1		)	(1,027.7		)	(497.0		)
Increase (decrease) in cash and cash equivalents	$	(1.4	)	$	0.3		$	(756.2	)	$	—		$	(757.3	)

Condensed Statements of Cash Flows

For the year ended December 31, 2012

(In millions)	Guarantor Parent			Subsidiary			Non-guarantor Subsidiaries			Eliminations			Consolidated
Cash flows provided by (used in) operating activities	$	(52.3	)	$	43.9		$	435.9		$	—		$	427.5
Investing Activities:
Purchases of property, plant and equipment	(1.7		)	(308.6		)	(71.7		)	—			(382.0		)
Net receipts (payments) on intercompany activity	—			—			(304.4		)	304.4			—
Asset disposals and other	—			0.3			3.0			—			3.3
Cash flows provided by (used in) investing activities	(1.7		)	(308.3		)	(373.1		)	304.4			(378.7		)
Financing Activities:
Net receipts (payments) on intercompany activity	156.5			147.9			—			(304.4		)	—
Dividends paid to stockholders	(76.5		)	—			—			—			(76.5		)
Other	(21.2		)	(0.1		)	(27.0		)	—			(48.3		)
Cash flows provided by (used in) financing activities	58.8			147.8			(27.0		)	(304.4		)	(124.8		)
Increase (decrease) in cash and cash equivalents	$	4.8		$	(116.6	)	$	35.8		$	—		$	(76.0	)

Condensed Statements of Cash Flows

For the year ended December 31, 2013

(In millions)	Guarantor Parent			Subsidiary			Non-guarantor Subsidiaries			Eliminations			Consolidated
Cash flows provided by (used in) operating activities	$	(41.1	)	$	(50.4	)	$	484.2		$	(24.3	)	$	368.4
Investing Activities:
Purchases of property, plant and equipment	(0.2		)	(564.8		)	(47.7		)	—			(612.7		)
Net receipts (payments) on intercompany activity	—			—			(248.8		)	248.8			—
Proceeds from sale of business, net of transaction costs	(7.9		)	—			608.8			—			600.9
Asset disposals and other	—			0.2			0.6			—			0.8
Cash flows provided by (used in) investing activities	(8.1		)	(564.6		)	312.9			248.8			(11.0		)
Financing Activities:
Borrowings on long-term debt	500.0			—			—			—			500.0
Net receipts (payments) on intercompany acivity	(366.7		)	615.5			—			(248.8		)	—
Dividends paid to stockholders	(76.9		)	—			(24.3		)	24.3			(76.9		)
Other	(9.1		)	(0.1		)	(49.1		)	—			(58.3		)
Cash flows provided by (used in) financing activities	47.3			615.4			(73.4		)	(224.5		)	364.8
Increase (decrease) in cash and cash equivalents	$	(1.9	)	$	0.4		$	723.7		$	—		$	722.2