Change in Accounting Principles (Tables)

12 Months Ended

Dec. 31, 2017

Accounting Changes [Abstract]

Schedule of New Accounting Pronouncements and Changes in Accounting Principles [Table Text Block]

The following tables reflect the changes to financial statement line items as a result of the change in accounting principles for the periods presented in the accompanying unaudited consolidated financial statements:

Consolidated Statements of Income for the Years Ended December 31:

	2017
	Previous Accounting Method		As Reported		Effect of Accounting Change
Cost of products sold	$	2,199.0	$	2,193.4	$	(5.6	)
Gross profit	804.8		810.4		5.6
Selling, general and administrative expenses	518.0		521.4		3.4
Pension settlement expenses	17.3		—		(17.3		)
Operating income	265.2		284.7		19.5
Income before income taxes	240.4		259.9		19.5
Provision for income taxes	51.1		57.6		6.5
Net income	189.3		202.3		13.0
Net income attributable to The Timken Company	$	190.4	$	203.4	$	13.0
Basic earnings per share	$	2.45	$	2.62	$	0.17
Diluted earnings per share	$	2.41	$	2.58	$	0.17

Consolidated Statements of Income for the Years Ended December 31:

	2016
	As Previously Reported		Revised		Effect of Accounting Change
Cost of products sold	$	1,975.0	$	2,001.3	$	26.3
Gross profit	694.8		668.5		(26.3		)
Selling, general and administrative expenses	450.0		470.7		20.7
Pension settlement expenses	28.1		1.6		(26.5		)
Operating income	195.0		174.5		(20.5		)
Income before income taxes	222.1		201.6		(20.5		)
Provision for income taxes	69.2		60.5		(8.7		)
Net income	152.9		141.1		(11.8		)
Net income attributable to The Timken Company	$	152.6	$	140.8	$	(11.8	)
Basic earnings per share	$	1.94	$	1.79	$	(0.15	)
Diluted earnings per share	$	1.92	$	1.78	$	(0.14	)

	2015
	As Previously Reported			Revised		Effect of Accounting Change
Cost of products sold	$	2,078.4		$	2,052.8	$	(25.6	)
Gross profit	793.9			819.5		25.6
Selling, general and administrative expenses	494.3			457.7		(36.6		)
Pension settlement expenses	465.0			119.9		(345.1		)
Operating income (loss)	(151.4		)	255.9		407.3
Income (loss) before income taxes	(189.6		)	217.7		407.3
Provision (benefit) for income taxes	(121.6		)	26.3		147.9
Net income (loss)	(68.0		)	191.4		259.4
Net income (loss) attributable to The Timken Company	$	(70.8	)	$	188.6	$	259.4
Basic earnings (loss) per share	$	(0.84	)	$	2.23	$	3.07
Diluted earnings (loss) per share	$	(0.84	)	$	2.21	$	3.05

Consolidated Statements of Comprehensive Income for the Years Ended December 31:

	2017
	Previous Accounting Method		As Reported			Effect of Accounting Change
Net Income	$	189.3	$	202.3		$	13.0
Pension and postretirement liability adjustment	11.2		(1.8		)	(13.0		)
Other comprehensive income, net of tax	$	55.0	$	42.0		$	(13.0	)

Consolidated Statements of Comprehensive Income for the Years Ended December 31:

	2016
	As Previously Reported			Revised			Effect of Accounting Change
Net Income	$	152.9		$	141.1		$	(11.8	)
Foreign currency translation adjustments	(32.8		)	(22.8		)	10.0
Pension and postretirement liability adjustment	(0.6		)	1.1			1.7
Other comprehensive income, net of tax	(33.3		)	(21.6		)	11.7
Comprehensive Income, net of tax	119.6			119.5			(0.1		)
Comprehensive income attributable to The Timken Company	$	117.6		$	117.5		$	(0.1	)

	2015
	As Previously Reported			Revised			Effect of Accounting Change
Net Income	$	(68.0	)	$	191.4		$	259.4
Foreign currency translation adjustments	(73.5		)	(64.8		)	8.7
Pension and postretirement liability adjustment	265.9			(2.4		)	(268.3		)
Other comprehensive income, net of tax	193.5			(66.1		)	(259.6		)
Comprehensive Income, net of tax	125.5			125.3			(0.2		)
Less: comprehensive income attributable to noncontrolling interest	0.8			0.7			(0.1		)
Comprehensive income attributable to The Timken Company	$	124.7		$	124.6		$	(0.1	)

Consolidated Balance Sheets for the Years Ended December 31:

	2017
	Previous Accounting Method			As Reported			Effect of Accounting Change
Inventories, net	$	731.0		$	738.9		$	7.9
Total current assets	1,492.2			1,500.1			7.9
Deferred income taxes	64.0			61.0			(3.0		)
Total other assets	1,041.1			1,038.1			(3.0		)
Total assets	3,397.5			3,402.4			4.9
Earnings invested in the business	1,634.7			1,408.4			(226.3		)
Accumulated other comprehensive loss	(269.4		)	(38.3		)	231.1
Total shareholders' equity	1,437.9			1,442.7			4.8
Noncontrolling interest	32.1			32.2			0.1
Total equity	1,470.0			1,474.9			4.9
Total liabilities and shareholders' equity	$	3,397.5		$	3,402.4		$	4.9

Consolidated Balance Sheets for the Years Ended December 31:

	2016
	As Previously Reported			Revised			Effect of Accounting Change
Inventories, net	$	545.8		$	553.7		$	7.9
Total current assets	1,204.0			1,211.9			7.9
Deferred income taxes	54.4			51.4			(3.0		)
Total other assets	749.9			746.9			(3.0		)
Total assets	2,758.3			2,763.2			4.9
Earnings invested in the business	1,528.6			1,289.3			(239.3		)
Accumulated other comprehensive loss	(322.0		)	(77.9		)	244.1
Total shareholders' equity	1,274.9			1,279.7			4.8
Noncontrolling interest	31.1			31.2			0.1
Total equity	1,306.0			1,310.9			4.9
Total liabilities and shareholders' equity	$	2,758.3		$	2,763.2		$	4.9

Consolidated Statements of Cash Flows for the Years Ended December 31:

	2017
	Previous Accounting Method			As Reported			Effect of Accounting Change
Net income attributable to The Timken Company	$	190.4		$	203.4		$	13.0
Deferred income tax benefit	(6.9		)	(0.4		)	6.5
Pension and other postretirement expense	$	48.4		$	28.9		$	(19.5	)

	2016
	As Previously Reported			Revised			Effect of Accounting Change
Net income attributable to The Timken Company	$	152.6		$	140.8		$	(11.8	)
Deferred income tax benefit	(6.3		)	(15.0		)	(8.7		)
Pension and other postretirement expense	$	63.5		$	84.0		$	20.5

	2015
	As Previously Reported			Revised			Effect of Accounting Change
Net income attributable to The Timken Company	$	(70.8	)	$	188.6		$	259.4
Deferred income tax benefit	(170.1		)	(22.2		)	147.9
Pension and other postretirement expense	502.9			95.3			(407.6		)
Inventories	$	52.8		$	53.1		$	0.3

Consolidated Statements of Shareholders' Equity for the Years Ended December 31:

	2017
	Previous Accounting Method		As Reported			Effect of Accounting Change
Net income	$	189.3	$	202.3		$	13.0
Pension and postretirement liability adjustments	$	11.2	$	(1.8	)	$	(13.0	)

	2016
	As Previously Reported			Revised			Effect of Accounting Change
Net income	$	152.9		$	141.1		$	(11.8	)
Foreign currency translation adjustment	(32.8		)	(22.8		)	10.0
Pension and postretirement liability adjustments	$	(0.6	)	$	1.1		$	1.7

	2015
	As Previously Reported			Revised			Effect of Accounting Change
Net income (loss)	$	(68.0	)	$	191.4		$	259.4
Foreign currency translation adjustment	(73.5		)	(64.8		)	8.7
Pension and postretirement liability adjustments	$	265.9		$	(2.4	)	$	(268.3	)