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Financial Information for Subsidiary and Guarantor Parent (Tables)
 6 Months Ended
Jun. 30, 2017
Condensed Statement of Income Captions [Line Items]  
Balance Sheets
Balance Sheets
December 31, 2016
 
Guarantor
 
 
 
Non-guarantor
 
 
 
 
(In millions)
Parent
 
Subsidiary
 
Subsidiaries
 
Eliminations
 
Consolidated
Assets:
 
 
 
 
 
 
 
 
 
Cash and cash equivalents
$
2.3

 
$
2.5

 
$
224.8

 
$
—

 
$
229.6

Accounts receivable, net
0.1

 
107.8

 
344.2

 
—

 
452.1

Intercompany notes receivable
—

 
—

 
2,892.9

 
(2,892.9
)
 
—

Inventories, net
—

 
106.7

 
930.3

 
—

 
1,037.0

Prepaid expenses and other current assets
6.6

 
5.2

 
36.0

 
—

 
47.8

Total current assets
9.0

 
222.2

 
4,428.2

 
(2,892.9
)
 
1,766.5

Property, plant and equipment, net
1.3

 
1,583.6

 
914.0

 
—

 
2,498.9

Goodwill
—

 
—

 
641.9

 
—

 
641.9

Intercompany notes receivable
—

 
—

 
200.0

 
(200.0
)
 
—

Investment in subsidiaries
5,241.2

 
37.7

 
—

 
(5,278.9
)
 
—

Other assets
23.0

 
25.5

 
214.2

 
—

 
262.7

Total assets
$
5,274.5

 
$
1,869.0

 
$
6,398.3

 
$
(8,371.8
)
 
$
5,170.0

Liabilities and stockholders’ equity:
 
 
 
 
 
 
 
 
 
Accounts payable
$
3.1

 
$
97.4

 
$
193.8

 
$
—

 
$
294.3

Accrued liabilities
54.6

 
83.3

 
171.4

 
—

 
309.3

Intercompany notes payable
1,341.1

 
1,551.8

 
—

 
(2,892.9
)
 
—

Short term debt and current portion of long-term debt
0.4

 
0.3

 
104.4

 
—

 
105.1

Total current liabilities
1,399.2

 
1,732.8

 
469.6

 
(2,892.9
)
 
708.7

Long-term debt
1,621.7

 
150.0

 
0.2

 
—

 
1,771.9

Intercompany notes payable
—

 
200.0

 
—

 
(200.0
)
 
—

Accrued postretirement benefits
—

 
244.0

 
73.7

 
—

 
317.7

Pension liabilities
778.5

 
5.2

 
44.2

 
—

 
827.9

Deferred income taxes
15.6

 
—

 
—

 
—

 
15.6

Other long-term liabilities
14.7

 
18.1

 
50.6

 
—

 
83.4

Total liabilities
3,829.7

 
2,350.1

 
638.3

 
(3,092.9
)
 
3,725.2

Total stockholders’ equity (deficit)
1,444.8

 
(481.1
)
 
5,760.0

 
(5,278.9
)
 
1,444.8

Total liabilities and stockholders’ equity
$
5,274.5

 
$
1,869.0

 
$
6,398.3

 
$
(8,371.8
)
 
$
5,170.0

Balance Sheets
June 30, 2017
(In millions)
Guarantor
Parent
 
Subsidiary
 
Non-guarantor
Subsidiaries
 
Eliminations
 
Consolidated
Assets:
 
 
 
 
 
 
 
 
 
Cash and cash equivalents
$
2.5

 
$
2.6

 
$
149.5

 
$
—

 
$
154.6

Accounts receivable, net
0.1

 
136.8

 
401.7

 
—

 
538.6

Intercompany notes receivable
—

 
—

 
3,282.0

 
(3,282.0
)
 
—

Inventories, net
—

 
160.2

 
916.0

 
—

 
1,076.2

Prepaid expenses and other current assets
5.3

 
4.1

 
21.3

 
—

 
30.7

Total current assets
7.9

 
303.7

 
4,770.5

 
(3,282.0
)
 
1,800.1

Property, plant and equipment, net
1.1

 
1,585.6

 
905.6

 
—

 
2,492.3

Goodwill
—

 
—

 
643.5

 
—

 
643.5

Intercompany notes receivable
—

 
—

 
200.0

 
(200.0
)
 
—

Investment in subsidiaries
5,498.2

 
37.7

 
—

 
(5,535.9
)
 
—

Other assets
26.8

 
19.3

 
204.3

 
—

 
250.4

Total assets
$
5,534.0

 
$
1,946.3

 
$
6,723.9

 
$
(9,017.9
)
 
$
5,186.3

Liabilities and stockholders’ equity:
 
 
 
 
 
 
 
 
 
Accounts payable
$
3.1

 
$
161.2

 
$
191.2

 
$
—

 
$
355.5

Accrued liabilities
51.8

 
75.9

 
150.3

 
—

 
278.0

Intercompany notes payable
1,670.6

 
1,611.4

 
—

 
(3,282.0
)
 
—

Short term debt and current portion of long-term debt
0.3

 
0.3

 
66.9

 
—

 
67.5

Total current liabilities
1,725.8

 
1,848.8

 
408.4

 
(3,282.0
)
 
701.0

Long-term debt
1,623.1

 
149.8

 
103.7

 
—

 
1,876.6

Intercompany notes payable
—

 
200.0

 
—

 
(200.0
)
 
—

Accrued postretirement benefits
—

 
238.4

 
69.6

 
—

 
308.0

Pension liabilities
634.8

 
4.9

 
43.2

 
—

 
682.9

Deferred income taxes
20.1

 
—

 
—

 
—

 
20.1

Other long-term liabilities
15.8

 
18.6

 
48.9

 
—

 
83.3

Total liabilities
4,019.6

 
2,460.5

 
673.8

 
(3,482.0
)
 
3,671.9

Total stockholders’ equity (deficit)
1,514.4

 
(514.2
)
 
6,050.1

 
(5,535.9
)
 
1,514.4

Total liabilities and stockholders’ equity
$
5,534.0

 
$
1,946.3

 
$
6,723.9

 
$
(9,017.9
)
 
$
5,186.3
Statements of Operations and Comprehensive Income
Allegheny Technologies Incorporated
Financial Information for Subsidiary and Guarantor Parent
Statements of Operations and Comprehensive Income
For the three months ended June 30, 2016  
(In millions)
Guarantor
Parent
 
Subsidiary
 
Non-guarantor
Subsidiaries
 
Eliminations
 
Consolidated
Sales
$
—

 
$
260.9

 
$
549.6

 
$
—

 
$
810.5

Cost of sales
9.6

 
286.9

 
465.8

 
—

 
762.3

Gross profit (loss)
(9.6
)
 
(26.0
)
 
83.8

 
—

 
48.2

Selling and administrative expenses
20.6

 
4.9

 
33.8

 
—

 
59.3

Restructuring charges
—

 
—

 
1.0

 
—

 
1.0

Operating income (loss)
(30.2
)
 
(30.9
)
 
49.0

 
—

 
(12.1
)
Interest income (expense), net
(33.7
)
 
(17.6
)
 
21.0

 
—

 
(30.3
)
Other income (loss) including equity in income of unconsolidated subsidiaries
22.5

 
0.3

 
0.9

 
(22.7
)
 
1.0

Income (loss) before income tax provision (benefit)
(41.4
)
 
(48.2
)
 
70.9

 
(22.7
)
 
(41.4
)
Income tax provision (benefit)
(25.9
)
 
(17.6
)
 
25.8

 
(8.2
)
 
(25.9
)
Net income (loss)
(15.5
)
 
(30.6
)
 
45.1

 
(14.5
)
 
(15.5
)
Less: Net income attributable to noncontrolling interests
—

 
—

 
3.3

 
—

 
3.3

Net income (loss) attributable to ATI
$
(15.5
)
 
$
(30.6
)
 
$
41.8

 
$
(14.5
)
 
$
(18.8
)
Comprehensive income (loss) attributable to ATI
$
4.2

 
$
(29.3
)
 
$
33.7

 
$
(6.2
)
 
$
2.4


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

 
$
474.7

 
$
1,093.3

 
$
—

 
$
1,568.0

Cost of sales
29.0

 
585.4

 
938.6

 
—

 
1,553.0

Gross profit (loss)
(29.0
)
 
(110.7
)
 
154.7

 
—

 
15.0

Selling and administrative expenses
42.5

 
14.6

 
64.8

 
—

 
121.9

Restructuring charges
—

 
9.0

 
1.0

 
—

 
10.0

Operating income (loss)
(71.5
)
 
(134.3
)
 
88.9

 
—

 
(116.9
)
Interest income (expense), net
(64.9
)
 
(31.7
)
 
38.0

 
—

 
(58.6
)
Other income (loss) including equity in income of unconsolidated subsidiaries
(37.3
)
 
0.4

 
1.7

 
37.0

 
1.8

Income (loss) before income tax provision (benefit)
(173.7
)
 
(165.6
)
 
128.6

 
37.0

 
(173.7
)
Income tax provision (benefit)
(60.1
)
 
(61.0
)
 
49.5

 
11.5

 
(60.1
)
Net income (loss)
(113.6
)
 
(104.6
)
 
79.1

 
25.5

 
(113.6
)
Less: Net income attributable to noncontrolling interests
—

 
—

 
6.4

 
—

 
6.4

Net income (loss) attributable to ATI
$
(113.6
)
 
$
(104.6
)
 
$
72.7

 
$
25.5

 
$
(120.0
)
Comprehensive income (loss) attributable to ATI
$
(75.8
)
 
$
(87.2
)
 
$
61.0

 
$
22.8

 
$
(79.2
)
Allegheny Technologies Incorporated
Financial Information for Subsidiary and Guarantor Parent
Statements of Operations and Comprehensive Income
For the three months ended June 30, 2017  
(In millions)
Guarantor
Parent
 
Subsidiary
 
Non-guarantor
Subsidiaries
 
Eliminations
 
Consolidated
Sales
$
—

 
$
291.2

 
$
589.0

 
$
—

 
$
880.2

Cost of sales
12.0

 
278.6

 
477.3

 
—

 
767.9

Gross profit (loss)
(12.0
)
 
12.6

 
111.7

 
—

 
112.3

Selling and administrative expenses
23.1

 
8.7

 
34.9

 
—

 
66.7

Operating income (loss)
(35.1
)
 
3.9

 
76.8

 
—

 
45.6

Interest income (expense), net
(39.7
)
 
(22.5
)
 
27.7

 
—

 
(34.5
)
Other income (loss) including equity in income of unconsolidated subsidiaries
86.1

 
0.3

 
(0.1
)
 
(86.1
)
 
0.2

Income (loss) before income tax provision (benefit)
11.3

 
(18.3
)
 
104.4

 
(86.1
)
 
11.3

Income tax provision (benefit)
(2.1
)
 
(6.6
)
 
33.6

 
(27.0
)
 
(2.1
)
Net income (loss)
13.4

 
(11.7
)
 
70.8

 
(59.1
)
 
13.4

Less: Net income attributable to noncontrolling interests
—

 
—

 
3.3

 
—

 
3.3

Net income (loss) attributable to ATI
$
13.4

 
$
(11.7
)
 
$
67.5

 
$
(59.1
)
 
$
10.1

Comprehensive income (loss) attributable to ATI
$
17.8

 
$
(11.3
)
 
$
92.5

 
$
(84.7
)
 
$
14.3


Allegheny Technologies Incorporated
Financial Information for Subsidiary and Guarantor Parent
Statements of Operations and Comprehensive Income
For the six months ended June 30, 2017  
(In millions)
Guarantor
Parent
 
Subsidiary
 
Non-guarantor
Subsidiaries
 
Eliminations
 
Consolidated
Sales
$
—

 
$
578.4

 
$
1,167.7

 
$
—

 
$
1,746.1

Cost of sales
23.0

 
538.7

 
959.3

 
—

 
1,521.0

Gross profit (loss)
(23.0
)
 
39.7

 
208.4

 
—

 
225.1

Selling and administrative expenses
44.3

 
18.4

 
63.5

 
—

 
126.2

Operating income (loss)
(67.3
)
 
21.3

 
144.9

 
—

 
98.9

Interest income (expense), net
(78.3
)
 
(43.7
)
 
54.0

 
—

 
(68.0
)
Other income (loss) including equity in income of unconsolidated subsidiaries
180.0

 
0.8

 
2.7

 
(180.0
)
 
3.5

Income (loss) before income tax provision (benefit)
34.4

 
(21.6
)
 
201.6

 
(180.0
)
 
34.4

Income tax provision (benefit)
(0.1
)
 
(7.7
)
 
69.1

 
(61.4
)
 
(0.1
)
Net income (loss)
34.5

 
(13.9
)
 
132.5

 
(118.6
)
 
34.5

Less: Net income attributable to noncontrolling interests
—

 
—

 
6.9

 
—

 
6.9

Net income (loss) attributable to ATI
$
34.5

 
$
(13.9
)
 
$
125.6

 
$
(118.6
)
 
$
27.6

Comprehensive income (loss) attributable to ATI
$
63.2

 
$
(11.6
)
 
$
138.4

 
$
(135.9
)
 
$
54.1
Condensed Statements of Cash Flows
Condensed Statements of Cash Flows
For the six months ended June 30, 2016
(In millions)
Guarantor
Parent
 
Subsidiary
 
Non-guarantor
Subsidiaries
 
Eliminations
 
Consolidated
Cash flows provided by (used in) operating activities
$
(50.5
)
 
$
(166.8
)
 
$
183.7

 
$
—

 
$
(33.6
)
Investing Activities:
 
 
 
 
 
 
 
 
 
Purchases of property, plant and equipment
(0.3
)
 
(85.3
)
 
(59.7
)
 
—

 
(145.3
)
Net receipts/(payments) on intercompany activity
—

 
—

 
(43.5
)
 
43.5

 
—

Asset disposals and other
—

 
—

 
1.8

 
—

 
1.8

Cash flows provided by (used in) investing activities
(0.3
)
 
(85.3
)
 
(101.4
)
 
43.5

 
(143.5
)
Financing Activities:
 
 
 
 
 
 
 
 
 
Borrowings on long-term debt
287.5

 
—

 
100.0

 
—

 
387.5

Payments on long-term debt and capital leases
(0.3
)
 
(0.1
)
 
(0.2
)
 
—

 
(0.6
)
Net borrowings under credit facilities
—

 
—

 
2.5

 
—

 
2.5

Debt issuance costs
(9.4
)
 
—

 
(1.0
)
 
—

 
(10.4
)
Net receipts/(payments) on intercompany activity
(209.8
)
 
253.3

 
—

 
(43.5
)
 
—

Dividends paid to stockholders
(17.2
)
 
—

 
—

 
—

 
(17.2
)
Acquisition of noncontrolling interests
—

 
—

 
(12.2
)
 
—

 
(12.2
)
Cash flows provided by (used in) financing activities
50.8

 
253.2

 
89.1

 
(43.5
)
 
349.6

Increase (decrease) in cash and cash equivalents
$
—

 
$
1.1

 
$
171.4

 
$
—

 
$
172.5

Condensed Statements of Cash Flows
For the six months ended June 30, 2017  
(In millions)
Guarantor
Parent
 
Subsidiary
 
Non-guarantor
Subsidiaries
 
Eliminations
 
Consolidated
Cash flows provided by (used in) operating activities
$
(54.6
)
 
$
(55.4
)
 
$
24.5

 
$
—

 
$
(85.5
)
Investing Activities:
 
 
 
 
 
 
 
 
 
Purchases of property, plant and equipment
—

 
(19.9
)
 
(35.4
)
 
—

 
(55.3
)
Net receipts/(payments) on intercompany activity
—

 
—

 
(135.3
)
 
135.3

 
—

Asset disposals and other
—

 
0.1

 
3.2

 
—

 
3.3

Cash flows provided by (used in) investing activities
—

 
(19.8
)
 
(167.5
)
 
135.3

 
(52.0
)
Financing Activities:
 
 
 
 
 
 
 
 
 
Borrowings on long-term debt
—

 
—

 
7.3

 
—

 
7.3

Payments on long-term debt and capital leases
(0.2
)
 
(0.2
)
 
(0.4
)
 
—

 
(0.8
)
Net borrowings under credit facilities
—

 
—

 
59.4

 
—

 
59.4

Debt issuance costs
—

 
—

 
(0.8
)
 
—

 
(0.8
)
Net receipts/(payments) on intercompany activity
59.8

 
75.5

 
—

 
(135.3
)
 
—

Sale to noncontrolling interests
—

 
—

 
2.2

 
—

 
2.2

Shares repurchased for income tax withholding on share-based compensation

(4.8
)
 
—

 
—

 
—

 
(4.8
)
Cash flows provided by (used in) financing activities
54.8

 
75.3

 
67.7

 
(135.3
)
 
62.5

Increase (decrease) in cash and cash equivalents
$
0.2

 
$
0.1

 
$
(75.3
)
 
$
—

 
$
(75.0
)