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Financial Information for Subsidiary and Guarantor Parent | 12 Months Ended
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Dec. 31, 2015
Financial Information for Subsidiary and Guarantor Parent [Abstract] |
Financial Information for Subsidiary and Guarantor Parent | Financial Information for Subsidiary and Guarantor Parent The payment obligations under the $150.0 million 6.95% Debentures due 2025 issued by Allegheny Ludlum, LLC (formerly known as Allegheny Ludlum Corporation) (the “Subsidiary”) are fully and unconditionally guaranteed by Allegheny Technologies Incorporated (the “Guarantor Parent”). In accordance with positions established by the U.S. Securities and Exchange Commission, the following financial information sets forth separately financial information with respect to the Subsidiary, the Non-guarantor Subsidiaries and the Guarantor Parent. The principal elimination entries eliminate investments in subsidiaries and certain intercompany balances and transactions. Allegheny Technologies is the plan sponsor for the U.S. qualified defined benefit pension plan (the “Plan”) which covers certain current and former employees of the Subsidiary and the Non-guarantor Subsidiaries. As a result, the balance sheets presented for the Subsidiary and the Non-guarantor Subsidiaries do not include any Plan assets or liabilities, or the related deferred taxes. The Plan assets, liabilities and related deferred taxes and pension income or expense are recognized by the Guarantor Parent. Management and royalty fees charged to the Subsidiary and to the Non-guarantor Subsidiaries by the Guarantor Parent have been excluded solely for purposes of this presentation. Allegheny Technologies Incorporated Financial Information for Subsidiary and Guarantor Parent Balance Sheets December 31, 2015
(In millions) |  | Guarantor Parent |  | Subsidiary |  | Non-guarantor Subsidiaries |  | Eliminations |  | Consolidated
Assets: |  |  |  |  |  |  |  |  |  |
Cash and cash equivalents |  | $ | 0.4 |  |  | $ | 2.8 |  |  | $ | 146.6 |  |  | $ | — |  |  | $ | 149.8 |
Accounts receivable, net |  | 0.1 |  |  | 100.3 |  |  | 299.9 |  |  | — |  |  | 400.3 |
Intercompany notes receivable |  | — |  |  | — |  |  | 2,601.5 |  |  | (2,601.5 | ) |  | — |
Inventories, net |  | — |  |  | 239.9 |  |  | 1,031.7 |  |  | — |  |  | 1,271.6 |
Prepaid expenses and other current assets |  | 9.3 |  |  | 3.8 |  |  | 32.8 |  |  | — |  |  | 45.9 |
Total current assets |  | 9.8 |  |  | 346.8 |  |  | 4,112.5 |  |  | (2,601.5 | ) |  | 1,867.6 |
Property, plant and equipment, net |  | 2.2 |  |  | 1,559.9 |  |  | 1,366.1 |  |  | — |  |  | 2,928.2 |
Goodwill |  | — |  |  | — |  |  | 651.4 |  |  | — |  |  | 651.4 |
Intercompany notes receivable |  | — |  |  | — |  |  | 200.0 |  |  | (200.0 | ) |  | — |
Investments in subsidiaries |  | 5,742.5 |  |  | 37.7 |  |  | — |  |  | (5,780.2 | ) |  | — |
Other assets |  | 13.4 |  |  | 23.0 |  |  | 268.1 |  |  | — |  |  | 304.5 |
Total assets |  | $ | 5,767.9 |  |  | $ | 1,967.4 |  |  | $ | 6,598.1 |  |  | $ | (8,581.7 | ) |  | $ | 5,751.7 |
Liabilities and stockholders’ equity: |  |  |  |  |  |  |  |  |  |
Accounts payable |  | $ | 4.8 |  |  | $ | 171.1 |  |  | $ | 204.9 |  |  | $ | — |  |  | $ | 380.8 |
Accrued liabilities |  | 42.1 |  |  | 74.0 |  |  | 185.7 |  |  | — |  |  | 301.8 |
Intercompany notes payable |  | 1,325.4 |  |  | 1,276.1 |  |  | — |  |  | (2,601.5 | ) |  | — |
Short-term debt and current portion of long-term debt |  | 0.7 |  |  | 0.1 |  |  | 3.1 |  |  | — |  |  | 3.9 |
Total current liabilities |  | 1,373.0 |  |  | 1,521.3 |  |  | 393.7 |  |  | (2,601.5 | ) |  | 686.5 |
Long-term debt |  | 1,341.7 |  |  | 149.7 |  |  | 0.4 |  |  | — |  |  | 1,491.8 |
Intercompany notes payable |  | — |  |  | 200.0 |  |  | — |  |  | (200.0 | ) |  | — |
Accrued postretirement benefits |  | — |  |  | 280.0 |  |  | 79.2 |  |  | — |  |  | 359.2 |
Pension liabilities |  | 778.0 |  |  | 5.2 |  |  | 50.6 |  |  | — |  |  | 833.8 |
Deferred income taxes |  | 75.6 |  |  | — |  |  | — |  |  | — |  |  | 75.6 |
Other long-term liabilities |  | 15.2 |  |  | 20.7 |  |  | 72.4 |  |  | — |  |  | 108.3 |
Total liabilities |  | 3,583.5 |  |  | 2,176.9 |  |  | 596.3 |  |  | (2,801.5 | ) |  | 3,555.2 |
Redeemable noncontrolling interest |  | — |  |  | — |  |  | 12.1 |  |  | — |  |  | 12.1 |
Total stockholders’ equity |  | 2,184.4 |  |  | (209.5 | ) |  | 5,989.7 |  |  | (5,780.2 | ) |  | 2,184.4 |
Total liabilities and stockholders’ equity |  | $ | 5,767.9 |  |  | $ | 1,967.4 |  |  | $ | 6,598.1 |  |  | $ | (8,581.7 | ) |  | $ | 5,751.7 |
Allegheny Technologies Incorporated Financial Information for Subsidiary and Guarantor Parent Statements of Operations For the year ended December 31, 2015
(In millions) |  | Guarantor Parent |  | Subsidiary |  | Non-guarantor Subsidiaries |  | Eliminations |  | Consolidated
Sales |  | $ | — |  |  | $ | 1,453.2 |  |  | $ | 2,266.4 |  |  | $ | — |  |  | $ | 3,719.6 |
Cost of sales |  | 27.3 |  |  | 1,643.2 |  |  | 1,988.8 |  |  | — |  |  | 3,659.3 |
Selling and administrative expenses |  | 88.2 |  |  | 29.4 |  |  | 121.2 |  |  | — |  |  | 238.8 |
Impairment of goodwill |  | — |  |  | 126.6 |  |  | — |  |  | — |  |  | 126.6 |
Restructuring charges |  | 1.6 |  |  | 58.0 |  |  | 4.7 |  |  | — |  |  | 64.3 |
Income (loss) before interest, other income and income taxes |  | (117.1 | ) |  | (404.0 | ) |  | 151.7 |  |  | — |  |  | (369.4 | )
Interest income (expense), net |  | (117.3 | ) |  | (50.9 | ) |  | 58.0 |  |  | — |  |  | (110.2 | )
Other income (expense) including equity in income of unconsolidated subsidiaries |  | (243.6 | ) |  | 1.1 |  |  | 0.8 |  |  | 243.3 |  |  | 1.6 |
Income (loss) from continuing operations before income taxes |  | (478.0 | ) |  | (453.8 | ) |  | 210.5 |  |  | 243.3 |  |  | (478.0 | )
Income tax provision (benefit) |  | (112.1 | ) |  | (165.7 | ) |  | 51.6 |  |  | 114.1 |  |  | (112.1 | )
Income (loss) from continuing operations |  | (365.9 | ) |  | (288.1 | ) |  | 158.9 |  |  | 129.2 |  |  | (365.9 | )
Income (loss) from discontinued operations, net of tax |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Net income (loss) |  | (365.9 | ) |  | (288.1 | ) |  | 158.9 |  |  | 129.2 |  |  | (365.9 | )
Less: Net income attributable to noncontrolling interest |  | — |  |  | — |  |  | 12.0 |  |  | — |  |  | 12.0 |
Net income (loss) attributable to ATI |  | $ | (365.9 | ) |  | $ | (288.1 | ) |  | $ | 146.9 |  |  | $ | 129.2 |  |  | $ | (377.9 | )
Allegheny Technologies Incorporated Financial Information for Subsidiary and Guarantor Parent Statements of Comprehensive Income For the year ended December 31, 2015
(In millions) |  | Guarantor Parent |  | Subsidiary |  | Non-guarantor Subsidiaries |  | Eliminations |  | Consolidated
Net income (loss) |  | $ | (365.9 | ) |  | $ | (288.1 | ) |  | $ | 158.9 |  |  | $ | 129.2 |  |  | $ | (365.9 | )
Other comprehensive income (loss) |  |  |  |  |  |  |  |  |  |
Currency translation adjustment arising during the period |  | (37.0 | ) |  | — |  |  | (37.0 | ) |  | 37.0 |  |  | (37.0 | )
Net derivative loss on hedge transactions |  | (32.0 | ) |  | — |  |  | — |  |  | — |  |  | (32.0 | )
Pension and postretirement benefits |  | (19.7 | ) |  | 29.8 |  |  | 3.1 |  |  | (32.9 | ) |  | (19.7 | )
Other comprehensive income (loss), net of tax |  | (88.7 | ) |  | 29.8 |  |  | (33.9 | ) |  | 4.1 |  |  | (88.7 | )
Comprehensive income (loss) |  | (454.6 | ) |  | (258.3 | ) |  | 125.0 |  |  | 133.3 |  |  | (454.6 | )
Less: Comprehensive income attributable to noncontrolling interest |  | — |  |  | — |  |  | 6.4 |  |  | — |  |  | 6.4 |
Comprehensive income (loss) attributable to ATI |  | $ | (454.6 | ) |  | $ | (258.3 | ) |  | $ | 118.6 |  |  | $ | 133.3 |  |  | $ | (461.0 | )
Condensed Statements of Cash Flows For the year ended December 31, 2015
(In millions) |  | Guarantor Parent |  | Subsidiary |  | Non-guarantor Subsidiaries |  | Eliminations |  | Consolidated
Cash flows provided by (used in) operating activities |  | $ | (70.0 | ) |  | $ | (134.8 | ) |  | $ | 360.2 |  |  | $ | (24.0 | ) |  | $ | 131.4 |
Investing Activities: |  |  |  |  |  |  |  |  |  |
Purchases of property, plant and equipment |  | (0.6 | ) |  | (66.9 | ) |  | (77.0 | ) |  | — |  |  | (144.5 | )
Net receipts (payments) on intercompany activity |  | — |  |  | — |  |  | (327.9 | ) |  | 327.9 |  |  | — |
Purchases of businesses, net of cash acquired |  | — |  |  | — |  |  | (0.5 | ) |  | — |  |  | (0.5 | )
Asset disposals and other |  | — |  |  | 0.2 |  |  | (0.3 | ) |  | — |  |  | (0.1 | )
Cash flows provided by (used in) investing activities |  | (0.6 | ) |  | (66.7 | ) |  | (405.7 | ) |  | 327.9 |  |  | (145.1 | )
Financing Activities: |  |  |  |  |  |  |  |  |  |
Payments on long-term debt and capital leases |  | (0.6 | ) |  | (0.1 | ) |  | (22.9 | ) |  | — |  |  | (23.6 | )
Net receipts (payments) on intercompany activity |  | 137.3 |  |  | 190.6 |  |  | — |  |  | (327.9 | ) |  | — |
Dividends paid to stockholders |  | (66.5 | ) |  | — |  |  | (24.0 | ) |  | 24.0 |  |  | (66.5 | )
Dividends paid to noncontrolling interests |  | — |  |  | — |  |  | (16.0 | ) |  | — |  |  | (16.0 | )
Other |  | (1.4 | ) |  | — |  |  | 1.5 |  |  | — |  |  | 0.1 |
Cash flows provided by (used in) financing activities |  | 68.8 |  |  | 190.5 |  |  | (61.4 | ) |  | (303.9 | ) |  | (106.0 | )
Decrease in cash and cash equivalents |  | $ | (1.8 | ) |  | $ | (11.0 | ) |  | $ | (106.9 | ) |  | $ | — |  |  | $ | (119.7 | )
Allegheny Technologies Incorporated Financial Information for Subsidiary and Guarantor Parent Balance Sheets December 31, 2014
(In millions) |  | Guarantor Parent |  | Subsidiary |  | Non-guarantor Subsidiaries |  | Eliminations |  | Consolidated
Assets: |  |  |  |  |  |  |  |  |  |
Cash and cash equivalents |  | $ | 2.2 |  |  | $ | 13.8 |  |  | $ | 253.5 |  |  | $ | — |  |  | $ | 269.5 |
Accounts receivable, net |  | 0.1 |  |  | 209.1 |  |  | 394.4 |  |  | — |  |  | 603.6 |
Intercompany notes receivable |  | — |  |  | — |  |  | 2,390.8 |  |  | (2,390.8 | ) |  | — |
Inventories, net |  | — |  |  | 387.7 |  |  | 1,085.1 |  |  | — |  |  | 1,472.8 |
Prepaid expenses and other current assets |  | 63.7 |  |  | 13.2 |  |  | 59.3 |  |  | — |  |  | 136.2 |
Total current assets |  | 66.0 |  |  | 623.8 |  |  | 4,183.1 |  |  | (2,390.8 | ) |  | 2,482.1 |
Property, plant and equipment, net |  | 2.2 |  |  | 1,545.1 |  |  | 1,414.5 |  |  | — |  |  | 2,961.8 |
Goodwill |  | — |  |  | 126.6 |  |  | 653.8 |  |  | — |  |  | 780.4 |
Intercompany notes receivable |  | — |  |  | — |  |  | 200.0 |  |  | (200.0 | ) |  | — |
Investments in subsidiaries |  | 6,149.4 |  |  | 37.7 |  |  | — |  |  | (6,187.1 | ) |  | — |
Other assets |  | 13.3 |  |  | 27.5 |  |  | 306.6 |  |  | — |  |  | 347.4 |
Total assets |  | $ | 6,230.9 |  |  | $ | 2,360.7 |  |  | $ | 6,758.0 |  |  | $ | (8,777.9 | ) |  | $ | 6,571.7 |
Liabilities and stockholders’ equity: |  |  |  |  |  |  |  |  |  |
Accounts payable |  | $ | 4.5 |  |  | $ | 302.0 |  |  | $ | 250.2 |  |  | $ | — |  |  | $ | 556.7 |
Accrued liabilities |  | 47.5 |  |  | 72.0 |  |  | 203.7 |  |  | — |  |  | 323.2 |
Intercompany notes payable |  | 1,232.6 |  |  | 1,158.2 |  |  | — |  |  | (2,390.8 | ) |  | — |
Short-term debt and current portion of long-term debt |  | 0.5 |  |  | 0.1 |  |  | 17.2 |  |  | — |  |  | 17.8 |
Total current liabilities |  | 1,285.1 |  |  | 1,532.3 |  |  | 471.1 |  |  | (2,390.8 | ) |  | 897.7 |
Long-term debt |  | 1,340.2 |  |  | 149.8 |  |  | 8.2 |  |  | — |  |  | 1,498.2 |
Intercompany notes payable |  | — |  |  | 200.0 |  |  | — |  |  | (200.0 | ) |  | — |
Accrued postretirement benefits |  | — |  |  | 153.0 |  |  | 262.8 |  |  | — |  |  | 415.8 |
Pension liabilities |  | 675.5 |  |  | 6.0 |  |  | 57.8 |  |  | — |  |  | 739.3 |
Deferred income taxes |  | 143.1 |  |  | — |  |  | — |  |  | — |  |  | 143.1 |
Other long-term liabilities |  | 77.7 |  |  | 22.5 |  |  | 56.0 |  |  | — |  |  | 156.2 |
Total liabilities |  | 3,521.6 |  |  | 2,063.6 |  |  | 855.9 |  |  | (2,590.8 | ) |  | 3,850.3 |
Redeemable noncontrolling interest |  | — |  |  | — |  |  | 12.1 |  |  | — |  |  | 12.1 |
Total stockholders’ equity |  | 2,709.3 |  |  | 297.1 |  |  | 5,890.0 |  |  | (6,187.1 | ) |  | 2,709.3 |
Total liabilities and stockholders’ equity |  | $ | 6,230.9 |  |  | $ | 2,360.7 |  |  | $ | 6,758.0 |  |  | $ | (8,777.9 | ) |  | $ | 6,571.7 |
Allegheny Technologies Incorporated Financial Information for Subsidiary and Guarantor Parent Statements of Operations For the year ended December 31, 2014
(In millions) |  | Guarantor Parent |  | Subsidiary |  | Non-guarantor Subsidiaries |  | Eliminations |  | Consolidated
Sales |  | $ | — |  |  | $ | 1,878.0 |  |  | $ | 2,345.4 |  |  | $ | — |  |  | $ | 4,223.4 |
Cost of sales |  | 45.3 |  |  | 1,874.8 |  |  | 1,924.7 |  |  | — |  |  | 3,844.8 |
Selling and administrative expenses |  | 103.9 |  |  | 44.0 |  |  | 124.6 |  |  | — |  |  | 272.5 |
Income (loss) before interest, other income and income taxes |  | (149.2 | ) |  | (40.8 | ) |  | 296.1 |  |  | — |  |  | 106.1 |
Interest income (expense), net |  | (111.0 | ) |  | (44.9 | ) |  | 47.2 |  |  | — |  |  | (108.7 | )
Other income (expense) including equity in income of unconsolidated subsidiaries |  | 261.7 |  |  | 1.1 |  |  | 2.9 |  |  | (261.6 | ) |  | 4.1 |
Income (loss) from continuing operations before income taxes |  | 1.5 |  |  | (84.6 | ) |  | 346.2 |  |  | (261.6 | ) |  | 1.5 |
Income tax provision (benefit) |  | (8.7 | ) |  | (29.3 | ) |  | 116.7 |  |  | (87.4 | ) |  | (8.7 | )
Income (loss) from continuing operations |  | 10.2 |  |  | (55.3 | ) |  | 229.5 |  |  | (174.2 | ) |  | 10.2 |
Income (loss) from discontinued operations, net of tax |  | (0.6 | ) |  | — |  |  | (0.6 | ) |  | 0.6 |  |  | (0.6 | )
Net income (loss) |  | 9.6 |  |  | (55.3 | ) |  | 228.9 |  |  | (173.6 | ) |  | 9.6 |
Less: Net income attributable to noncontrolling interest |  | — |  |  | — |  |  | 12.2 |  |  | — |  |  | 12.2 |
Net income (loss) attributable to ATI |  | $ | 9.6 |  |  | $ | (55.3 | ) |  | $ | 216.7 |  |  | $ | (173.6 | ) |  | $ | (2.6 | )
Allegheny Technologies Incorporated Financial Information for Subsidiary and Guarantor Parent Statements of Comprehensive Income For the year ended December 31, 2014
(In millions) |  | Guarantor Parent |  | Subsidiary |  | Non-guarantor Subsidiaries |  | Eliminations |  | Consolidated
Net income (loss) |  | $ | 9.6 |  |  | $ | (55.3 | ) |  | $ | 228.9 |  |  | $ | (173.6 | ) |  | $ | 9.6 |
Other comprehensive income (loss) |  |  |  |  |  |  |  |  |  |
Currency translation adjustment arising during the period |  | (33.6 | ) |  | — |  |  | (33.6 | ) |  | 33.6 |  |  | (33.6 | )
Net derivative gain on hedge transactions |  | 25.9 |  |  | — |  |  | — |  |  | — |  |  | 25.9 |
Pension and postretirement benefits |  | (212.6 | ) |  | 1.8 |  |  | (28.4 | ) |  | 26.6 |  |  | (212.6 | )
Other comprehensive income (loss), net of tax |  | (220.3 | ) |  | 1.8 |  |  | (62.0 | ) |  | 60.2 |  |  | (220.3 | )
Comprehensive income (loss) |  | (210.7 | ) |  | (53.5 | ) |  | 166.9 |  |  | (113.4 | ) |  | (210.7 | )
Less: Comprehensive income attributable to noncontrolling interest |  | — |  |  | — |  |  | 10.1 |  |  | — |  |  | 10.1 |
Comprehensive income (loss) attributable to ATI |  | $ | (210.7 | ) |  | $ | (53.5 | ) |  | $ | 156.8 |  |  | $ | (113.4 | ) |  | $ | (220.8 | )
Condensed Statements of Cash Flows For the year ended December 31, 2014
(In millions) |  | Guarantor Parent |  | Subsidiary |  | Non-guarantor Subsidiaries |  | Eliminations |  | Consolidated
Cash flows provided by (used in) operating activities |  | $ | (66.9 | ) |  | $ | (313.8 | ) |  | $ | 436.6 |  |  | $ | — |  |  | $ | 55.9 |
Investing Activities: |  |  |  |  |  |  |  |  |  |
Purchases of property, plant and equipment |  | (0.1 | ) |  | (170.8 | ) |  | (54.8 | ) |  | — |  |  | (225.7 | )
Net receipts (payments) on intercompany activity |  | — |  |  | — |  |  | (1,027.7 | ) |  | 1,027.7 |  |  | — |
Purchases of businesses, net of cash acquired |  | — |  |  | — |  |  | (92.9 | ) |  | — |  |  | (92.9 | )
Asset disposals and other |  | — |  |  | 1.7 |  |  | 0.7 |  |  | — |  |  | 2.4 |
Cash flows provided by (used in) investing activities |  | (0.1 | ) |  | (169.1 | ) |  | (1,174.7 | ) |  | 1,027.7 |  |  | (316.2 | )
Financing Activities: |  |  |  |  |  |  |  |  |  |
Payments on long-term debt and capital leases |  | (397.9 | ) |  | (0.1 | ) |  | (16.9 | ) |  | — |  |  | (414.9 | )
Net receipts (payments) on intercompany acivity |  | 544.4 |  |  | 483.3 |  |  | — |  |  | (1,027.7 | ) |  | — |
Dividends paid to stockholders |  | (77.1 | ) |  | — |  |  | — |  |  | — |  |  | (77.1 | )
Other |  | (3.8 | ) |  | — |  |  | (1.2 | ) |  | — |  |  | (5.0 | )
Cash flows provided by (used in) financing activities |  | 65.6 |  |  | 483.2 |  |  | (18.1 | ) |  | (1,027.7 | ) |  | (497.0 | )
Increase (decrease) in cash and cash equivalents |  | $ | (1.4 | ) |  | $ | 0.3 |  |  | $ | (756.2 | ) |  | $ | — |  |  | $ | (757.3 | )
Allegheny Technologies Incorporated Financial Information for Subsidiary and Guarantor Parent Statements of Operations For the year ended December 31, 2013
(In millions) |  | Guarantor Parent |  | Subsidiary |  | Non-guarantor Subsidiaries |  | Eliminations |  | Consolidated
Sales |  | $ | — |  |  | $ | 1,769.4 |  |  | $ | 2,274.1 |  |  | $ | — |  |  | $ | 4,043.5 |
Cost of sales |  | 75.2 |  |  | 1,748.8 |  |  | 1,966.9 |  |  | — |  |  | 3,790.9 |
Selling and administrative expenses |  | 124.3 |  |  | 34.9 |  |  | 117.2 |  |  | — |  |  | 276.4 |
Restructuring charges |  | 1.1 |  |  | 15.7 |  |  | 50.7 |  |  | — |  |  | 67.5 |
Income (loss) before interest, other income and income taxes |  | (200.6 | ) |  | (30.0 | ) |  | 139.3 |  |  | — |  |  | (91.3 | )
Interest income (expense), net |  | (63.4 | ) |  | (37.2 | ) |  | 35.4 |  |  | — |  |  | (65.2 | )
Other income (expense) including equity in income of unconsolidated subsidiaries |  | 109.2 |  |  | 0.9 |  |  | 0.8 |  |  | (109.2 | ) |  | 1.7 |
Income (loss) from continuing operations, before income taxes |  | (154.8 | ) |  | (66.3 | ) |  | 175.5 |  |  | (109.2 | ) |  | (154.8 | )
Income tax provision (benefit) |  | (63.6 | ) |  | (20.0 | ) |  | 40.4 |  |  | (20.4 | ) |  | (63.6 | )
Income (loss) from continuing operations |  | (91.2 | ) |  | (46.3 | ) |  | 135.1 |  |  | (88.8 | ) |  | (91.2 | )
Income (loss) from discontinued operations, net of tax |  | 252.8 |  |  | — |  |  | 252.8 |  |  | (252.8 | ) |  | 252.8 |
Net income (loss) |  | 161.6 |  |  | (46.3 | ) |  | 387.9 |  |  | (341.6 | ) |  | 161.6 |
Less: Net income attributable to noncontrolling interest |  | — |  |  | — |  |  | 7.6 |  |  | — |  |  | 7.6 |
Net income (loss) attributable to ATI |  | $ | 161.6 |  |  | $ | (46.3 | ) |  | $ | 380.3 |  |  | $ | (341.6 | ) |  | $ | 154.0 |
Allegheny Technologies Incorporated Financial Information for Subsidiary and Guarantor Parent Statements of Comprehensive Income For the year ended December 31, 2013
(In millions) |  | Guarantor Parent |  | Subsidiary |  | Non-guarantor Subsidiaries |  | Eliminations |  | Consolidated
Net income (loss) |  | $ | 161.6 |  |  | $ | (46.3 | ) |  | $ | 387.9 |  |  | $ | (341.6 | ) |  | $ | 161.6 |
Other comprehensive income (loss) |  |  |  |  |  |  |  |  |  |
Currency translation adjustment arising during the period |  | 15.3 |  |  | — |  |  | 15.3 |  |  | (15.3 | ) |  | 15.3 |
Unrealized holding gain (loss) on securities |  | 0.1 |  |  | — |  |  | 0.1 |  |  | (0.1 | ) |  | 0.1 |
Net derivative loss on hedge transactions |  | (6.9 | ) |  | — |  |  | — |  |  | — |  |  | (6.9 | )
Pension and postretirement benefits |  | 311.1 |  |  | 22.0 |  |  | 27.6 |  |  | (49.6 | ) |  | 311.1 |
Other comprehensive income (loss), net of tax |  | 319.6 |  |  | 22.0 |  |  | 43.0 |  |  | (65.0 | ) |  | 319.6 |
Comprehensive income (loss) |  | 481.2 |  |  | (24.3 | ) |  | 430.9 |  |  | (406.6 | ) |  | 481.2 |
Less: Comprehensive income attributable to noncontrolling interest |  | — |  |  | — |  |  | 11.0 |  |  | — |  |  | 11.0 |
Comprehensive income (loss) attributable to ATI |  | $ | 481.2 |  |  | $ | (24.3 | ) |  | $ | 419.9 |  |  | $ | (406.6 | ) |  | $ | 470.2 |
Condensed Statements of Cash Flows For the year ended December 31, 2013
(In millions) |  | Guarantor Parent |  | Subsidiary |  | Non-guarantor Subsidiaries |  | Eliminations |  | Consolidated
Cash flows provided by (used in) operating activities |  | $ | (41.1 | ) |  | $ | (50.4 | ) |  | $ | 484.2 |  |  | $ | (24.3 | ) |  | $ | 368.4 |
Investing Activities: |  |  |  |  |  |  |  |  |  |
Purchases of property, plant and equipment |  | (0.2 | ) |  | (564.8 | ) |  | (47.7 | ) |  | — |  |  | (612.7 | )
Net receipts (payments) on intercompany activity |  | — |  |  | — |  |  | (248.8 | ) |  | 248.8 |  |  | — |
Proceeds from sale of business, net of transaction costs |  | (7.9 | ) |  | — |  |  | 608.8 |  |  | — |  |  | 600.9 |
Asset disposals and other |  | — |  |  | 0.2 |  |  | 0.6 |  |  | — |  |  | 0.8 |
Cash flows provided by (used in) investing activities |  | (8.1 | ) |  | (564.6 | ) |  | 312.9 |  |  | 248.8 |  |  | (11.0 | )
Financing Activities: |  |  |  |  |  |  |  |  |  |
Borrowings on long-term debt |  | 500.0 |  |  | — |  |  | — |  |  | — |  |  | 500.0 |
Net receipts (payments) on intercompany activity |  | (366.7 | ) |  | 615.5 |  |  | — |  |  | (248.8 | ) |  | — |
Dividends paid to stockholders |  | (76.9 | ) |  | — |  |  | (24.3 | ) |  | 24.3 |  |  | (76.9 | )
Other |  | (9.1 | ) |  | (0.1 | ) |  | (49.1 | ) |  | — |  |  | (58.3 | )
Cash flows provided by (used in) financing activities |  | 47.3 |  |  | 615.4 |  |  | (73.4 | ) |  | (224.5 | ) |  | 364.8 |
Increase (decrease) in cash and cash equivalents |  | $ | (1.9 | ) |  | $ | 0.4 |  |  | $ | 723.7 |  |  | $ | — |  |  | $ | 722.2 |

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