XML 46 R35.htm IDEA: XBRL DOCUMENT

Equity (Tables)

9 Months Ended

Sep. 30, 2021

Sep. 30, 2020

Equity [Abstract]

The following tables present the changes in the components of equity for the three and nine months ended September 30, 2021 and 2020, respectively:


						The Timken Company Shareholders
			Total			Stated Capital			Other Paid-In Capital			Retained Earnings			Accumulated Other Comprehensive Income (Loss)			Treasury Stock			Non controlling Interest
Balance at June 30, 2021			$	2,367.3		$	40.7		$	778.6		$	1,510.9		$	19.8		$	(59.1)		$	76.4
Net income			91.6									88.1									3.5
Foreign currency translation adjustment			(32.9)												(33.1)						0.2
Pension and other postretirement liability adjustments (net of income tax benefit of $0.5 million)			(1.5)												(1.5)

Change in fair value of derivative financial instruments, net of reclassifications			2.5												2.5
Dividends declared to noncontrolling interest			(0.6)																		(0.6)
Dividends – $0.30 per share			(22.8)									(22.8)
Stock-based compensation expense			3.1						3.1
Stock purchased at fair market value			(30.3)															(30.3)



Balance at September 30, 2021			$	2,376.4		$	40.7		$	781.7		$	1,576.2		$	(12.3)		$	(89.4)		$	79.5


						The Timken Company Shareholders
			Total			Stated Capital			Other Paid-In Capital			Retained Earnings			Accumulated Other Comprehensive Income (Loss)			Treasury Stock			Non controlling Interest
Balance at December 31, 2020			$	2,225.2		$	40.7		$	740.7		$	1,339.5		$	41.3		$	(9.3)		$	72.3
Net income			314.8									306.2									8.6
Foreign currency translation adjustment			(54.1)												(53.3)						(0.8)
Pension and other postretirement liability adjustments (net of income tax benefit of $1.6 million)			(4.8)												(4.8)
Change in fair value of derivative financial instruments, net of reclassifications			4.5												4.5
Dividends declared to noncontrolling interest			(0.6)																		(0.6)
Dividends – $0.89 per share			(69.5)									(69.5)
Stock-based compensation expense			15.6						15.6
Stock purchased at fair market value			(56.6)															(56.6)
Stock option exercise activity			25.4						25.4

Payments related to tax withholding for stock-based compensation			(23.5)															(23.5)
Balance at September 30, 2021			$	2,376.4		$	40.7		$	781.7		$	1,576.2		$	(12.3)		$	(89.4)		$	79.5


						The Timken Company Shareholders
			Total			Stated Capital			Other Paid-In Capital			Retained Earnings			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 income			91.3									88.8									2.5
Foreign currency translation adjustment			63.5												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 expense			7.8						7.8
Stock option exercise activity			10.7						(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
			Total			Stated Capital			Other Paid-In Capital			Retained Earnings			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 income			237.1									231.4									5.7
Foreign currency translation adjustment			9.2												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 expense			19.2						19.2
Stock purchased at fair market value			(42.3)															(42.3)
Stock option exercise activity			18.2						(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