XML 30 R20.htm IDEA: XBRL DOCUMENT v3.23.1
Equity
3 Months Ended
Mar. 31, 2023
Equity [Abstract]  
Equity
Note 14 - Equity
The following tables present the changes in the components of equity for the three months ended March 31, 2023 and 2022, respectively:
  The Timken Company Shareholders 
 TotalStated
Capital
Other
Paid-In
Capital
Retained EarningsAccumulated
Other
Comprehensive
Loss
Treasury
Stock
Non
controlling
Interest
Balance at December 31, 2022$2,352.9 $40.7 $829.6 $1,932.1 $(181.9)$(352.2)$84.6 
Net income125.7 122.3 3.4 
Foreign currency translation adjustment27.7 27.4 0.3 
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
(0.8)(0.8)
Dividends - $0.31 per share
(23.6)(23.6)
Stock-based compensation expense11.0 11.0 
Stock purchased at fair market value(54.0)(54.0)
Stock option exercise activity12.7 12.7 
Payments related to tax withholding for
   stock-based compensation
(13.8)(13.8)
Balance at March 31, 2023$2,436.3 $40.7 $853.3 $2,030.8 $(156.8)$(420.0)$88.3 
  The Timken Company Shareholders 
 TotalStated
Capital
Other
Paid-In
Capital
Retained EarningsAccumulated
Other
Comprehensive
Income
Treasury
Stock
Non
controlling
Interest
Balance at December 31, 2021$2,377.7 $40.7 $786.9 $1,616.4 $(23.0)$(126.1)$82.8 
Net income121.9 118.2 3.7 
Foreign currency translation adjustment(22.6)(20.0)(2.6)
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
2.0 2.0 
Dividends - $0.30 per share
(23.5)(23.5)
Stock-based compensation expense7.1 7.1 
Stock purchased at fair market value(100.0)(100.0)
Stock option exercise activity1.4 1.4 
Payments related to tax withholding for
   stock-based compensation
(7.5)(7.5)
Balance at March 31, 2022$2,355.0 $40.7 $795.4 $1,711.1 $(42.5)$(233.6)$83.9