Sale of Shares of Timken India Limited

12 Months Ended

Dec. 31, 2024

Equity Method Investments and Joint Ventures [Abstract]

Sale of Shares of Timken India Limited

Note 19 - Sale of Shares of Timken India Limited

On June 20, 2023, the Company completed the sale of 7.6 million shares of TIL, a publicly traded subsidiary of the Company, generating net proceeds of $229.0 million after income taxes of $55.2 million and transaction costs. The sale reduced the Company’s ownership in TIL from 67.80 percent to 57.70 percent.

On May 28, 2024, the Company completed the sale of 5.0 million shares of TIL, generating net proceeds of $186.8 million after income taxes of $45.2 million and transaction costs. The sale reduced the Company’s ownership in TIL from 57.70 percent to 51.05 percent. The India market remains strategically important to Timken, and the Company is not contemplating any further sale transactions at the present time.