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Equity
 6 Months Ended
Jun. 30, 2016
Equity [Abstract]  
Equity
Note 9 - Equity

The changes in the equity components for the six months ended June 30, 2016 were as follows:
 
 
The Timken Company Shareholders
 
  
Total
Stated
Capital
Other
Paid-In
Capital
Earnings
Invested
in the
Business
Accumulated
Other
Comprehensive
(Loss)
Treasury
Stock
Non-
controlling
Interest
Balance at December 31, 2015
$
1,344.6

$
53.1

$
905.1

$
1,457.6

$
(287.0
)
$
(804.3
)
$
20.1

Net income (loss)
107.8

 
 
107.9

 
 
(0.1
)
Foreign currency translation adjustment
(3.6
)
 
 
 
(4.9
)
 
1.3

Pension and postretirement liability
adjustment (net of the income tax
benefit of $3.4 million)
12.0

 
 
 
12.0

 
 
Change in fair value of derivative
financial instruments, net of
reclassifications
(1.6
)
 
 
 
(1.6
)
 
 
Investment in joint venture by
  noncontrolling interest party
4.8

 
 
 
 
 
4.8

Dividends declared to noncontrolling
interest
(0.3
)
 
 
 
 
 
(0.3
)
Dividends – $0.52 per share
(41.1
)
 
 
(41.1
)
 
 
 
Excess tax shortfall from stock
compensation
(0.8
)
 
(0.8
)
 
 
 
 
Stock-based compensation expense
6.7

 
6.7

 
 
 
 
Stock purchased at fair market value
(68.2
)
 
 
 
 
(68.2
)
 
Stock option exercise activity
0.4

 
(0.6
)
 
 
1.0

 
Restricted shares (issued) surrendered
—

 
(8.6
)
 
 
8.6

 
Shares surrendered for taxes
(1.5
)
 
 
 
 
(1.5
)
 
Balance at June 30, 2016
$
1,359.2

$
53.1

$
901.8

$
1,524.4

$
(281.5
)
$
(864.4
)
$
25.8


On March 6, 2014, Timken Lux Holdings II S.A.R.L, a subsidiary of the Company, entered into a joint venture agreement with Holme Service Limited ("joint venture partner"). During 2015, the Company and its joint venture partner established TUBC Limited, a Cyprus entity, for the purpose of producing bearings to serve the rail market sector in Russia. During 2015, the Company and its joint venture partner amended and restated the joint venture agreement and contributed $6.9 million and $6.6 million, respectively, to TUBC Limited. During the first six months of 2016, the Company and its joint venture partner contributed $5.0 million and $4.8 million, respectively, to TUBC Limited. The Company and its joint venture partner have a 51% controlling interest and 49% controlling interest, respectively, in TUBC Limited.