Quarterly Financial Data

12 Months Ended

Dec. 31, 2022

Quarterly Financial Information Disclosure [Abstract]

Note 22 - Quarterly Financial Data

(Unaudited)


	2022
	1st		2nd		3rd		4th		Total
Net sales	$	1,124.6	$	1,153.7	$	1,136.4	$	1,082.0	$	4,496.7
Gross profit	327.4		341.8		322.8		296.1		1,288.1
Selling, general and administrative expenses	154.1		155.9		159.8		167.3		637.1

Impairment and restructuring charges	1.0		10.0		31.3		1.8		44.1

Net income (1)	121.9		105.6		90.4		99.1		417.0
Net income attributable to noncontrolling interests	3.7		0.6		3.4		1.9		9.6
Net income attributable to The Timken Company	118.2		105.0		87.0		97.2		407.4
Net income per share - Basic:	$	1.58	$	1.43	$	1.19	$	1.34	$	5.54
Net income per share - Diluted:	$	1.56	$	1.42	$	1.18	$	1.32	$	5.48
Dividends per share	$	0.30	$	0.31	$	0.31	$	0.31	$	1.23

	2021
	1st		2nd		3rd		4th		Total
Net sales	$	1,025.4	$	1,062.9	$	1,037.3	$	1,007.3	$	4,132.9
Gross profit	299.2		302.3		267.9		233.1		1,102.5
Selling, general and administrative expenses	144.5		149.0		140.7		146.3		580.5

Impairment and restructuring charges	4.0		1.3		2.9		0.7		8.9

Net income (2)	116.0		107.2		91.6		66.7		381.5
Net income attributable to noncontrolling interests	2.7		2.4		3.5		3.8		12.4
Net income attributable to The Timken Company	113.3		104.8		88.1		62.9		369.1
Net income per share - Basic:	$	1.49	$	1.38	$	1.16	$	0.83	$	4.86
Net income per share - Diluted:	$	1.47	$	1.36	$	1.14	$	0.82	$	4.79
Dividends per share	$	0.29	$	0.30	$	0.30	$	0.30	$	1.19

Earnings per share are computed independently for each of the quarters presented; therefore, the sum of the quarterly earnings per share may not equal the total computed for the year.

(1)Net income for the second quarter of 2022 included net actuarial losses of $11.6 million. Net income for the third quarter of 2022 included impairment charges of $29.3 million related to the sale of ADS. Net income for the fourth quarter of 2022 included net actuarial gains of $12.3 million.

(2)Net income for the second quarter of 2021 included net actuarial losses of $3.5 million. Net income for the third quarter of 2021 included net actuarial losses of $3.9 million. Net income for the fourth quarter of 2021 included net actuarial gains of $8.0 million and the reversal of tax valuation allowances of $7.8 million.