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Financial Information for Subsidiary and Guarantor Parent (Tables)
 9 Months Ended
Sep. 30, 2016
Condensed Statement of Income Captions [Line Items]  
Balance Sheets
Balance Sheets
December 31, 2015
 
Guarantor
 
 
 
Non-guarantor
 
 
 
 
(In millions)
Parent
 
Subsidiary
 
Subsidiaries
 
Eliminations
 
Consolidated
Assets:
 
 
 
 
 
 
 
 
 
Cash and cash equivalents
$
0.4

 
$
2.8

 
$
146.6

 
$
—

 
$
149.8

Accounts receivable, net
0.1

 
100.3

 
299.9

 
—

 
400.3

Intercompany notes receivable
—

 
—

 
2,601.5

 
(2,601.5
)
 
—

Inventories, net
—

 
239.9

 
1,031.7

 
—

 
1,271.6

Prepaid expenses and other current assets
9.3

 
3.8

 
32.8

 
—

 
45.9

Total current assets
9.8

 
346.8

 
4,112.5

 
(2,601.5
)
 
1,867.6

Property, plant and equipment, net
2.2

 
1,559.9

 
1,366.1

 
—

 
2,928.2

Goodwill
—

 
—

 
651.4

 
—

 
651.4

Intercompany notes receivable
—

 
—

 
200.0

 
(200.0
)
 
—

Investment in subsidiaries
5,742.5

 
37.7

 
—

 
(5,780.2
)
 
—

Other assets
13.4

 
23.0

 
268.1

 
—

 
304.5

Total assets
$
5,767.9

 
$
1,967.4

 
$
6,598.1

 
$
(8,581.7
)
 
$
5,751.7

Liabilities and stockholders’ equity:
 
 
 
 
 
 
 
 
 
Accounts payable
$
4.8

 
$
171.1

 
$
204.9

 
$
—

 
$
380.8

Accrued liabilities
42.1

 
74.0

 
185.7

 
—

 
301.8

Intercompany notes payable
1,325.4

 
1,276.1

 
—

 
(2,601.5
)
 
—

Short-term debt and current portion of long-term debt
0.7

 
0.1

 
3.1

 
—

 
3.9

Total current liabilities
1,373.0

 
1,521.3

 
393.7

 
(2,601.5
)
 
686.5

Long-term debt
1,341.7

 
149.7

 
0.4

 
—

 
1,491.8

Intercompany notes payable
—

 
200.0

 
—

 
(200.0
)
 
—

Accrued postretirement benefits
—

 
280.0

 
79.2

 
—

 
359.2

Pension liabilities
778.0

 
5.2

 
50.6

 
—

 
833.8

Deferred income taxes
75.6

 
—

 
—

 
—

 
75.6

Other long-term liabilities
15.2

 
20.7

 
72.4

 
—

 
108.3

Total liabilities
3,583.5

 
2,176.9

 
596.3

 
(2,801.5
)
 
3,555.2

Redeemable noncontrolling interest
—

 
—

 
12.1

 
—

 
12.1

Total stockholders’ equity (deficit)
2,184.4

 
(209.5
)
 
5,989.7

 
(5,780.2
)
 
2,184.4

Total liabilities and stockholders’ equity
$
5,767.9

 
$
1,967.4

 
$
6,598.1

 
$
(8,581.7
)
 
$
5,751.7

Balance Sheets
September 30, 2016
 
(In millions)
Guarantor
Parent
 
Subsidiary
 
Non-guarantor
Subsidiaries
 
Eliminations
 
Consolidated
Assets:
 
 
 
 
 
 
 
 
 
Cash and cash equivalents
$
2.3

 
$
4.3

 
$
181.8

 
$
—

 
$
188.4

Accounts receivable, net
0.1

 
115.7

 
338.2

 
—

 
454.0

Intercompany notes receivable
—

 
—

 
2,955.8

 
(2,955.8
)
 
—

Inventories, net
—

 
137.6

 
941.3

 
—

 
1,078.9

Prepaid expenses and other current assets
3.3

 
4.9

 
32.6

 
—

 
40.8

Total current assets
5.7

 
262.5

 
4,449.7

 
(2,955.8
)
 
1,762.1

Property, plant and equipment, net
1.5

 
1,587.7

 
925.2

 
—

 
2,514.4

Goodwill
—

 
—

 
644.4

 
—

 
644.4

Intercompany notes receivable
—

 
—

 
200.0

 
(200.0
)
 
—

Investment in subsidiaries
5,363.3

 
37.7

 
—

 
(5,401.0
)
 
—

Other assets
22.1

 
26.1

 
223.2

 
—

 
271.4

Total assets
$
5,392.6

 
$
1,914.0

 
$
6,442.5

 
$
(8,556.8
)
 
$
5,192.3

Liabilities and stockholders’ equity:
 
 
 
 
 
 
 
 
 
Accounts payable
$
3.5

 
$
123.9

 
$
157.8

 
$
—

 
$
285.2

Accrued liabilities
35.6

 
91.0

 
184.3

 
—

 
310.9

Intercompany notes payable
1,442.1

 
1,513.7

 
—

 
(2,955.8
)
 
—

Short-term debt and current portion of long-term debt
0.7

 
0.3

 
4.4

 
—

 
5.4

Total current liabilities
1,481.9

 
1,728.9

 
346.5

 
(2,955.8
)
 
601.5

Long-term debt
1,620.9

 
149.9

 
99.6

 
—

 
1,870.4

Intercompany notes payable
—

 
200.0

 
—

 
(200.0
)
 
—

Accrued postretirement benefits
—

 
245.1

 
66.5

 
—

 
311.6

Pension liabilities
658.9

 
4.7

 
45.0

 
—

 
708.6

Deferred income taxes
51.3

 
—

 
—

 
—

 
51.3

Other long-term liabilities
16.9

 
18.8

 
50.5

 
—

 
86.2

Total liabilities
3,829.9

 
2,347.4

 
608.1

 
(3,155.8
)
 
3,629.6

Total stockholders’ equity (deficit)
1,562.7

 
(433.4
)
 
5,834.4

 
(5,401.0
)
 
1,562.7

Total liabilities and stockholders’ equity
$
5,392.6

 
$
1,914.0

 
$
6,442.5

 
$
(8,556.8
)
 
$
5,192.3
Statements of Operations and Comprehensive Income
Statements of Operations and Comprehensive Income
For the three months ended September 30, 2015  
(In millions)
Guarantor
Parent
 
Subsidiary
 
Non-guarantor
Subsidiaries
 
Eliminations
 
Consolidated
Sales
$
—

 
$
286.3

 
$
546.4

 
$
—

 
$
832.7

Cost of sales
9.2

 
363.5

 
488.7

 
—

 
861.4

Gross profit (loss)
(9.2
)
 
(77.2
)
 
57.7

 
—

 
(28.7
)
Selling and administrative expenses
22.9

 
9.3

 
30.3

 
—

 
62.5

Operating income (loss)
(32.1
)
 
(86.5
)
 
27.4

 
—

 
(91.2
)
Interest income (expense), net
(29.5
)
 
(12.6
)
 
14.6

 
—

 
(27.5
)
Other income (loss) including equity in income of unconsolidated subsidiaries
(56.3
)
 
0.2

 
0.7

 
56.2

 
0.8

Income (loss) before income tax provision (benefit)
(117.9
)
 
(98.9
)
 
42.7

 
56.2

 
(117.9
)
Income tax provision (benefit)
23.4

 
(35.1
)
 
11.0

 
24.1

 
23.4

Net income (loss)
(141.3
)
 
(63.8
)
 
31.7

 
32.1

 
(141.3
)
Less: Net income attributable to noncontrolling interests
—

 
—

 
3.3

 
—

 
3.3

Net income (loss) attributable to ATI
$
(141.3
)
 
$
(63.8
)
 
$
28.4

 
$
32.1

 
$
(144.6
)
Comprehensive income (loss) attributable to ATI
$
(163.5
)
 
$
(60.5
)
 
$
16.7

 
$
44.6

 
$
(162.7
)


Allegheny Technologies Incorporated
Financial Information for Subsidiary and Guarantor Parent
Statements of Operations and Comprehensive Income
For the nine months ended September 30, 2015  
(In millions)
Guarantor
Parent
 
Subsidiary
 
Non-guarantor
Subsidiaries
 
Eliminations
 
Consolidated
Sales
$
—

 
$
1,231.5

 
$
1,749.2

 
$
—

 
$
2,980.7

Cost of sales
22.0

 
1,296.5

 
1,504.4

 
—

 
2,822.9

Gross profit (loss)
(22.0
)
 
(65.0
)
 
244.8

 
—

 
157.8

Selling and administrative expenses
70.1

 
30.4

 
97.5

 
—

 
198.0

Operating income (loss)
(92.1
)
 
(95.4
)
 
147.3

 
—

 
(40.2
)
Interest income (expense), net
(86.1
)
 
(37.3
)
 
42.4

 
—

 
(81.0
)
Other income (loss) including equity in income of unconsolidated subsidiaries
59.3

 
0.8

 
1.8

 
(59.6
)
 
2.3

Income (loss) before income tax provision (benefit)
(118.9
)
 
(131.9
)
 
191.5

 
(59.6
)
 
(118.9
)
Income tax provision (benefit)
23.7

 
(46.3
)
 
67.4

 
(21.1
)
 
23.7

Net income (loss)
(142.6
)
 
(85.6
)
 
124.1

 
(38.5
)
 
(142.6
)
Less: Net income attributable to noncontrolling interests
—

 
—

 
8.4

 
—

 
8.4

Net income (loss) attributable to ATI
$
(142.6
)
 
$
(85.6
)
 
$
115.7

 
$
(38.5
)
 
$
(151.0
)
Comprehensive income (loss) attributable to ATI
$
(140.4
)
 
$
(76.0
)
 
$
101.9

 
$
(30.5
)
 
$
(145.0
)
Statements of Operations and Comprehensive Income
For the three months ended September 30, 2016  
(In millions)
Guarantor
Parent
 
Subsidiary
 
Non-guarantor
Subsidiaries
 
Eliminations
 
Consolidated
Sales
$
—

 
$
253.0

 
$
517.5

 
$
—

 
$
770.5

Cost of sales
14.0

 
266.6

 
439.7

 
—

 
720.3

Gross profit (loss)
(14.0
)
 
(13.6
)
 
77.8

 
—

 
50.2

Selling and administrative expenses
23.8

 
4.2

 
32.5

 
—

 
60.5

Restructuring charges
—

 
0.5

 
488.1

 
—

 
488.6

Operating loss
(37.8
)
 
(18.3
)
 
(442.8
)
 
—

 
(498.9
)
Interest income (expense), net
(36.5
)
 
(19.3
)
 
23.2

 
—

 
(32.6
)
Other income (loss) including equity in income of unconsolidated subsidiaries
(457.2
)
 
0.2

 
(0.2
)
 
457.2

 
—

Income (loss) before income tax provision (benefit)
(531.5
)
 
(37.4
)
 
(419.8
)
 
457.2

 
(531.5
)
Income tax provision (benefit)
(4.3
)
 
(9.1
)
 
(165.8
)
 
174.9

 
(4.3
)
Net income (loss)
(527.2
)
 
(28.3
)
 
(254.0
)
 
282.3

 
(527.2
)
Less: Net income attributable to noncontrolling interests
—

 
—

 
3.6

 
—

 
3.6

Net income (loss) attributable to ATI
$
(527.2
)
 
$
(28.3
)
 
$
(257.6
)
 
$
282.3

 
$
(530.8
)
Comprehensive income (loss) attributable to ATI
$
(516.8
)
 
$
(27.0
)
 
$
(260.0
)
 
$
285.0

 
$
(518.8
)


Allegheny Technologies Incorporated
Financial Information for Subsidiary and Guarantor Parent
Statements of Operations and Comprehensive Income
For the nine months ended September 30, 2016  
(In millions)
Guarantor
Parent
 
Subsidiary
 
Non-guarantor
Subsidiaries
 
Eliminations
 
Consolidated
Sales
$
—

 
$
727.7

 
$
1,610.8

 
$
—

 
$
2,338.5

Cost of sales
43.0

 
852.0

 
1,378.3

 
—

 
2,273.3

Gross profit (loss)
(43.0
)
 
(124.3
)
 
232.5

 
—

 
65.2

Selling and administrative expenses
66.3

 
18.8

 
97.3

 
—

 
182.4

Restructuring charges
—

 
9.5

 
489.1

 
—

 
498.6

Operating loss
(109.3
)
 
(152.6
)
 
(353.9
)
 
—

 
(615.8
)
Interest income (expense), net
(101.4
)
 
(51.0
)
 
61.2

 
—

 
(91.2
)
Other income (loss) including equity in income of unconsolidated subsidiaries
(494.5
)
 
0.6

 
1.5

 
494.2

 
1.8

Income (loss) before income tax provision (benefit)
(705.2
)
 
(203.0
)
 
(291.2
)
 
494.2

 
(705.2
)
Income tax provision (benefit)
(64.4
)
 
(70.1
)
 
(116.3
)
 
186.4

 
(64.4
)
Net income (loss)
(640.8
)
 
(132.9
)
 
(174.9
)
 
307.8

 
(640.8
)
Less: Net income attributable to noncontrolling interests
—

 
—

 
10.0

 
—

 
10.0

Net income (loss) attributable to ATI
$
(640.8
)
 
$
(132.9
)
 
$
(184.9
)
 
$
307.8

 
$
(650.8
)
Comprehensive income (loss) attributable to ATI
$
(592.6
)
 
$
(114.2
)
 
$
(199.0
)
 
$
307.8

 
$
(598.0
)
Condensed Statements of Cash Flows
Condensed Statements of Cash Flows
For the nine months ended September 30, 2016  
(In millions)
Guarantor
Parent
 
Subsidiary
 
Non-guarantor
Subsidiaries
 
Eliminations
 
Consolidated
Cash flows provided by (used in) operating activities
$
(73.0
)
 
$
(183.7
)
 
$
169.0

 
$
(24.0
)
 
$
(111.7
)
Investing Activities:
 
 
 
 
 
 
 
 
 
Purchases of property, plant and equipment
(0.5
)
 
(93.0
)
 
(81.4
)
 
—

 
(174.9
)
Net receipts/(payments) on intercompany activity
—

 
—

 
(102.0
)
 
102.0

 
—

Asset disposals and other
—

 
—

 
2.1

 
—

 
2.1

Cash flows provided by (used in) investing activities
(0.5
)
 
(93.0
)
 
(181.3
)
 
102.0

 
(172.8
)
Financing Activities:
 
 
 
 
 
 
 
 
 
Borrowings on long-term debt
287.5

 
—

 
100.0

 
—

 
387.5

Payments on long-term debt and capital leases
(0.5
)
 
(0.2
)
 
(1.7
)
 
—

 
(2.4
)
Net borrowings under credit facilities
—

 
—

 
2.4

 
—

 
2.4

Debt issuance costs
(9.4
)
 
—

 
(1.0
)
 
—

 
(10.4
)
Net receipts/(payments) on intercompany activity
(176.4
)
 
278.4

 
—

 
(102.0
)
 
—

Dividends paid to stockholders
(25.8
)
 
—

 
(24.0
)
 
24.0

 
(25.8
)
Dividends paid to noncontrolling interests
—

 
—

 
(16.0
)
 
—

 
(16.0
)
Acquisition of noncontrolling interests
—

 
—

 
(12.2
)
 
—

 
(12.2
)
Cash flows provided by (used in) financing activities
75.4

 
278.2

 
47.5

 
(78.0
)
 
323.1

Increase in cash and cash equivalents
$
1.9

 
$
1.5

 
$
35.2

 
$
—

 
$
38.6

Condensed Statements of Cash Flows
For the nine months ended September 30, 2015
(In millions)
Guarantor
Parent
 
Subsidiary
 
Non-guarantor
Subsidiaries
 
Eliminations
 
Consolidated
Cash flows provided by (used in) operating activities
$
(61.3
)
 
$
(171.1
)
 
$
341.3

 
$
—

 
$
108.9

Investing Activities:
 
 
 
 
 
 
 
 
 
Purchases of property, plant and equipment
(0.1
)
 
(45.0
)
 
(54.4
)
 
—

 
(99.5
)
Purchases of businesses, net of cash acquired
—

 
—

 
(0.5
)
 
—

 
(0.5
)
Net receipts/(payments) on intercompany activity
—

 
—

 
(333.3
)
 
333.3

 
—

Asset disposals and other
—

 
0.2

 
(0.2
)
 
—

 
—

Cash flows provided by (used in) investing activities
(0.1
)
 
(44.8
)
 
(388.4
)
 
333.3

 
(100.0
)
Financing Activities:
 
 
 
 
 
 
 
 
 
Payments on long-term debt and capital leases
(0.4
)
 
(0.1
)
 
(22.8
)
 
—

 
(23.3
)
Net receipts/(payments) on intercompany activity
124.2

 
209.1

 
—

 
(333.3
)
 
—

Dividends paid to stockholders
(57.9
)
 
—

 
—

 
—

 
(57.9
)
Other
(1.3
)
 
—

 
1.6

 
—

 
0.3

Cash flows provided by (used in) financing activities
64.6

 
209.0

 
(21.2
)
 
(333.3
)
 
(80.9
)
Increase (decrease) in cash and cash equivalents
$
3.2

 
$
(6.9
)
 
$
(68.3
)
 
$
—

 
$
(72.0
)