Property, Plant and Equipment (Tables)

9 Months Ended

Sep. 30, 2015

Long Lived Assets Held-for-sale [Line Items]

Disclosure of Long Lived Assets Held-for-sale [Table Text Block]

Assets Held for Sale

During the third quarter of 2015, the Company explored strategic alternatives for its U.S. subsidiary, Timken Alcor Aerospace Technologies, Inc. (Alcor). Alcor is engaged in the design, engineering, sourcing, manufacture and sale of parts and components used in gas turbine engines and helicopter drivetrain applications and filing applications for and obtaining certificates reflecting a Parts Manufacturer Approval (PMA) issued by the United States Federal Aviation Administration (FAA) for such parts and components. The results of the operations of Alcor are reported in the Mobile Industries segment. At September 30, 2015, the assets and liabilities of Alcor were presented as assets held for sale and included in other current assets and other current liabilities, respectively on the Consolidated Balance Sheet.

The following table presents the assets and liabilities classified as assets held for sale at September 30, 2015. 

	Assets Held for Sale
Assets:
Accounts receivable, net	$	2.5
Inventories, net	6.7
Other current assets	0.1
Property, plant and equipment, net	2.0
Other intangible assets	3.6
Total assets	$	14.9
Liabilities:
Accounts payable, trade	$	0.7
Other current liabilities	0.8
Total liabilities	$	1.5
Net assets held for sale	$	13.4

Components of property, plant and equipment

The components of property, plant and equipment were as follows:

	September 30, 2015			December 31, 2014
Land and buildings	$	429.7		$	428.8
Machinery and equipment	1,762.9			1,735.3
Subtotal	2,192.6			2,164.1
Accumulated depreciation	(1,409.5		)	(1,383.6		)
Property, Plant and Equipment, net	$	783.1		$	780.5