XML 52 R41.htm IDEA: XBRL DOCUMENT v3.24.2
Equity (Tables)
6 Months Ended
Jun. 30, 2024
Equity [Abstract]  
Schedule of Changes in the Components of Equity
The following tables present the changes in the components of equity for the three and six months ended June 30, 2024 and 2023, respectively:
  The Timken Company Shareholders 
 TotalStated
Capital
Other
Paid-In
Capital
Retained EarningsAccumulated
Other
Comprehensive
Loss
Treasury
Stock
Non
controlling
Interest
Balance at March 31, 2024$2,735.0 $40.7 $1,083.0 $2,311.2 $(197.6)$(629.0)$126.7 
Net income102.0 96.2 5.8 
Foreign currency translation adjustment(29.3)(29.2)(0.1)
Pension and other postretirement liability
   adjustments (net of income tax benefit
   of $0.4 million)
(1.5)(1.5)
Change in fair value of derivative financial
   instruments, net of reclassifications
(0.8)(0.8)
Dividends - $0.34 per share
(23.9)(23.9)
Sale of shares of Timken India Limited188.0 162.5 5.6 19.9 
Noncontrolling interest acquired1.0 1.0 
Stock-based compensation expense7.0 7.0 
Stock purchased at fair market value(29.7)(29.7)
Stock option exercise activity3.4 3.4 
Payments related to tax withholding for
   stock-based compensation
(1.1)(1.1)
Balance at June 30, 2024$2,950.1 $40.7 $1,255.9 $2,383.5 $(223.5)$(659.8)$153.3 
  The Timken Company Shareholders 
 TotalStated
Capital
Other
Paid-In
Capital
Retained EarningsAccumulated
Other
Comprehensive
Loss
Treasury
Stock
Non
controlling
Interest
Balance at December 31, 2023$2,702.4 $40.7 $1,076.5 $2,232.2 $(146.9)$(620.1)$120.0 
Net income212.6 199.7 12.9 
Foreign currency translation adjustment(80.0)(79.5)(0.5)
Pension and other postretirement liability
   adjustments (net of income tax benefit
   of $0.9 million)
(3.0)(3.0)
Change in fair value of derivative financial
   instruments, net of reclassifications
0.3 0.3 
Dividends - $0.67 per share
(48.4)(48.4)
Sale of shares of Timken India Limited188.0 162.5 5.6 19.9 
Noncontrolling interest acquired 1.0 1.0 
Stock-based compensation expense11.5 11.5 
Stock purchased at fair market value(29.7)(29.7)
Stock option exercise activity5.4 5.4 
Payments related to tax withholding for
   stock-based compensation
(10.0)(10.0)
Balance at June 30, 2024$2,950.1 $40.7 $1,255.9 $2,383.5 $(223.5)$(659.8)$153.3 
  The Timken Company Shareholders 
 TotalStated
Capital
Other
Paid-In
Capital
Retained EarningsAccumulated
Other
Comprehensive
Loss
Treasury
Stock
Non
controlling
Interest
Balance at March 31, 2023$2,436.3 $40.7 $853.3 $2,030.8 $(156.8)$(420.0)$88.3 
Net income129.5 125.2 4.3 
Foreign currency translation adjustment(27.9)(27.6)(0.3)
Pension and other postretirement liability
   adjustments (net of income tax benefit of
   $0.5 million)
(1.6)(1.6)
Change in fair value of derivative financial
   instruments, net of reclassifications
(0.3)(0.3)
Dividends - $0.33 per share
(23.8)(23.8)
Sale of shares of Timken India Limited229.0 194.5 8.1 26.4 
Stock-based compensation expense6.1 6.1 
Stock purchased at fair market value(100.5)(100.5)
Stock option exercise activity4.5 4.5 
Payments related to tax withholding for
stock-based compensation
(1.3)(1.3)
Balance at June 30, 2023$2,650.0 $40.7 $1,058.4 $2,132.2 $(178.2)$(521.8)$118.7 
  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 income255.2 247.5 7.7 
Foreign currency translation adjustment(0.2)(0.2)
Pension and other postretirement liability
   adjustments (net of income tax benefit
   of $1.0 million)
(3.1)(3.1)
Change in fair value of derivative financial
   instruments, net of reclassifications
(1.1)(1.1)
Dividends - $0.64 per share
(47.4)(47.4)
Sale of shares of Timken India Limited229.0 194.5 8.1 26.4 
Stock-based compensation expense17.1 17.1 
Stock purchased at fair market value(154.5)(154.5)
Stock option exercise activity17.2 17.2 
Payments related to tax withholding for
   stock-based compensation
(15.1)(15.1)
Balance at June 30, 2023$2,650.0 $40.7 $1,058.4 $2,132.2 $(178.2)$(521.8)$118.7