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Equity (Tables)
9 Months Ended
Sep. 30, 2020
Equity [Abstract]  
Equity
The following tables present the changes in the components of equity for the three and nine months ended September 30, 2020 and 2019, respectively:
  The Timken Company Shareholders 
 TotalStated
Capital
Other
Paid-In
Capital
Earnings
Invested
in the
Business
Accumulated
Other
Comprehensive
(Loss)
Treasury
Stock
Non
controlling
Interest
Balance at June 30, 2020$1,967.6 $53.1 $924.4 $2,005.7 $(99.2)$(1,000.4)$84.0 
Net income91.3 88.8 2.5 
Foreign currency translation adjustment63.5 63.0 0.5 
Pension and other postretirement liability
   adjustments (net of income tax benefit
   of $0.4 million)
(1.2)(1.2)
Unrealized gain on marketable securities(0.1)(0.1)
Change in fair value of derivative financial
instruments, net of reclassifications
(1.8)(1.8)
Dividends declared to noncontrolling interest(16.1)(16.1)
Dividends – $0.28 per share
(21.1)(21.1)
Stock-based compensation expense7.8 7.8 
Stock option exercise activity10.7 (1.5)12.2 
Restricted share activity— (0.1)0.1 
Payments related to tax withholding for
stock-based compensation
(1.6)(1.6)
Balance at September 30, 2020$2,099.0 $53.1 $930.6 $2,073.4 $(39.3)$(989.7)$70.9 

  The Timken Company Shareholders 
 TotalStated
Capital
Other
Paid-In
Capital
Earnings
Invested
in the
Business
Accumulated
Other
Comprehensive
(Loss)
Treasury
Stock
Non
controlling
Interest
Balance at December 31, 2019$1,954.8 $53.1 $937.6 $1,907.4 $(50.1)$(979.8)$86.6 
Cumulative effect of ASU 2016-13
   (net of income tax benefit of $0.2 million)
(0.4)(0.4)
Net income237.1 231.4 5.7 
Foreign currency translation adjustment9.2 15.0 (5.8)
Pension and other postretirement liability
   adjustments (net of income tax benefit
   of $1.4 million)
(4.0)(4.0)
Change in fair value of derivative financial
instruments, net of reclassifications
(0.2)(0.2)
Change in ownership of noncontrolling
interest
0.5 0.5 
Dividends declared to noncontrolling interest(16.1)(16.1)
Dividends – $0.84 per share
(65.0)(65.0)
Stock-based compensation expense19.2 19.2 
Stock purchased at fair market value(42.3)(42.3)
Stock option exercise activity18.2 (2.4)20.6 
Restricted share activity— (23.8)23.8 
Payments related to tax withholding for
stock-based compensation
(12.0)(12.0)
Balance at September 30, 2020$2,099.0 $53.1 $930.6 $2,073.4 $(39.3)$(989.7)$70.9 
Note 12 - Equity (continued)
  The Timken Company Shareholders 
 TotalStated
Capital
Other
Paid-In
Capital
Earnings
Invested
in the
Business
Accumulated
Other
Comprehensive
(Loss)
Treasury
Stock
Non
controlling
Interest
Balance at June 30, 2019$1,783.6 $53.1 $941.3 $1,772.0 $(97.5)$(957.6)$72.3 
Net income66.7 64.2 2.5 
Foreign currency translation adjustment(63.0)(61.2)(1.8)
Pension and other postretirement liability
   adjustments (net of income tax expense of
   $25.4 million)
76.7 76.7 
Change in fair value of derivative financial
instruments, net of reclassifications
1.9 1.9 
Dividends paid to noncontrolling interest(0.3)(0.3)
Dividends – $0.28 per share
(21.2)(21.2)
Stock-based compensation expense5.8 5.8 
Stock purchased at fair market value(32.5)(32.5)
Stock option exercise activity1.0 (1.0)2.0 
Restricted share activity— (0.6)0.6 
Payments related to tax withholding for
stock-based compensation
(1.2)(1.2)
Balance at September 30, 2019$1,817.5 $53.1 $945.5 $1,815.0 $(80.1)$(988.7)$72.7 
  The Timken Company Shareholders 
 TotalStated
Capital
Other
Paid-In
Capital
Earnings
Invested
in the
Business
Accumulated
Other
Comprehensive
(Loss)
Treasury
Stock
Non
controlling
Interest
Balance at December 31, 2018$1,642.7 $53.1 $951.9 $1,630.2 $(95.3)$(960.3)$63.1 
Net income256.9 248.6 8.3 
Foreign currency translation adjustment(62.1)(61.9)(0.2)
Pension and postretirement liability
   adjustments (net of income tax expense of
   $25.3 million)
76.6 76.6 
Change in fair value of derivative financial
instruments, net of reclassifications
0.5 0.5 
Dividends paid to noncontrolling interest(0.3)(0.3)
Noncontrolling interest acquired1.8 1.8 
Dividends – $0.84 per share
(63.8)(63.8)
Stock-based compensation20.7 20.7 
Stock purchased at fair market value(56.1)(56.1)
Stock option exercise activity9.9 (4.4)14.3 
Restricted share activity— (22.7)22.7 
Payments related to tax withholding for
stock-based compensation
(9.3)(9.3)
Balance at September 30, 2019$1,817.5 $53.1 $945.5 $1,815.0 $(80.1)$(988.7)$72.7