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Financial Information for Subsidiary and Guarantor Parent (Tables) | 3 Months Ended
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Mar. 31, 2016
Condensed Financial Information of Parent Company Only Disclosure [Abstract] |
Balance Sheets | Balance Sheets March 31, 2016
(In millions) | Guarantor Parent |  | Subsidiary |  | Non-guarantor Subsidiaries |  | Eliminations |  | Consolidated
Assets: |  |  |  |  |  |  |  |  |
Cash and cash equivalents | $ | 2.3 |  |  | $ | 2.5 |  |  | $ | 152.1 |  |  | $ | — |  |  | $ | 156.9 |
Accounts receivable, net | 0.1 |  |  | 109.1 |  |  | 333.2 |  |  | — |  |  | 442.4 |
Intercompany notes receivable | — |  |  | — |  |  | 2,863.2 |  |  | (2,863.2 | ) |  | — |
Inventories, net | — |  |  | 168.6 |  |  | 997.7 |  |  | — |  |  | 1,166.3 |
Prepaid expenses and other current assets | 4.8 |  |  | 3.9 |  |  | 26.4 |  |  | — |  |  | 35.1 |
Total current assets | 7.2 |  |  | 284.1 |  |  | 4,372.6 |  |  | (2,863.2 | ) |  | 1,800.7 |
Property, plant and equipment, net | 2.1 |  |  | 1,594.6 |  |  | 1,365.4 |  |  | — |  |  | 2,962.1 |
Goodwill | — |  |  | — |  |  | 648.6 |  |  | — |  |  | 648.6 |
Intercompany notes receivable | — |  |  | — |  |  | 200.0 |  |  | (200.0 | ) |  | — |
Investment in subsidiaries | 5,746.9 |  |  | 37.7 |  |  | — |  |  | (5,784.6 | ) |  | — |
Other assets | 19.8 |  |  | 26.4 |  |  | 261.5 |  |  | — |  |  | 307.7 |
Total assets | $ | 5,776.0 |  |  | $ | 1,942.8 |  |  | $ | 6,848.1 |  |  | $ | (8,847.8 | ) |  | $ | 5,719.1 |
Liabilities and stockholders’ equity: |  |  |  |  |  |  |  |  |
Accounts payable | $ | 4.1 |  |  | $ | 152.1 |  |  | $ | 184.2 |  |  | $ | — |  |  | $ | 340.4 |
Accrued liabilities | 30.1 |  |  | 92.5 |  |  | 168.7 |  |  | — |  |  | 291.3 |
Pension liabilities | 32.8 |  |  | — |  |  | 7.7 |  |  | — |  |  | 40.5 |
Intercompany notes payable | 1,447.2 |  |  | 1,416.0 |  |  | — |  |  | (2,863.2 | ) |  | — |
Short-term debt and current portion of long-term debt | 0.8 |  |  | 0.3 |  |  | 155.4 |  |  | — |  |  | 156.5 |
Total current liabilities | 1,515.0 |  |  | 1,660.9 |  |  | 516.0 |  |  | (2,863.2 | ) |  | 828.7 |
Long-term debt | 1,341.9 |  |  | 150.1 |  |  | 0.7 |  |  | — |  |  | 1,492.7 |
Intercompany notes payable | — |  |  | 200.0 |  |  | — |  |  | (200.0 | ) |  | — |
Accrued postretirement benefits | — |  |  | 254.1 |  |  | 74.2 |  |  | — |  |  | 328.3 |
Pension liabilities | 745.6 |  |  | 5.0 |  |  | 48.4 |  |  | — |  |  | 799.0 |
Deferred income taxes | 59.1 |  |  | — |  |  | — |  |  | — |  |  | 59.1 |
Other long-term liabilities | 16.0 |  |  | 21.0 |  |  | 69.8 |  |  | — |  |  | 106.8 |
Total liabilities | 3,677.6 |  |  | 2,291.1 |  |  | 709.1 |  |  | (3,063.2 | ) |  | 3,614.6 |
Redeemable noncontrolling interest | — |  |  | — |  |  | 6.1 |  |  | — |  |  | 6.1 |
Total stockholders’ equity (deficit) | 2,098.4 |  |  | (348.3 | ) |  | 6,132.9 |  |  | (5,784.6 | ) |  | 2,098.4 |
Total liabilities and stockholders’ equity | $ | 5,776.0 |  |  | $ | 1,942.8 |  |  | $ | 6,848.1 |  |  | $ | (8,847.8 | ) |  | $ | 5,719.1 |
Balance Sheets December 31, 2015
| Guarantor |  |  |  | Non-guarantor |  |  |  |
(In millions) | Parent |  | Subsidiary |  | 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 | ) |  | — |
Investment 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 | 40.3 |  |  | 74.0 |  |  | 177.7 |  |  | — |  |  | 292.0 |
Pension liabilities | 1.8 |  |  | — |  |  | 8.0 |  |  | — |  |  | 9.8 |
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 (deficit) | 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 |
Statements of Operations and Comprehensive Income | Allegheny Technologies Incorporated Financial Information for Subsidiary and Guarantor Parent Statements of Operations and Comprehensive Income For the three months ended March 31, 2015
(In millions) | Guarantor Parent |  | Subsidiary |  | Non-guarantor Subsidiaries |  | Eliminations |  | Consolidated
Sales | $ | — |  |  | $ | 508.5 |  |  | $ | 617.0 |  |  | $ | — |  |  | $ | 1,125.5 |
Cost of sales | 2.2 |  |  | 504.0 |  |  | 509.8 |  |  | — |  |  | 1,016.0 |
Gross profit (loss) | (2.2 | ) |  | 4.5 |  |  | 107.2 |  |  | — |  |  | 109.5 |
Selling and administrative expenses | 25.8 |  |  | 11.7 |  |  | 25.6 |  |  | — |  |  | 63.1 |
Operating income (loss) | (28.0 | ) |  | (7.2 | ) |  | 81.6 |  |  | — |  |  | 46.4 |
Interest income (expense), net | (28.0 | ) |  | (12.2 | ) |  | 13.5 |  |  | — |  |  | (26.7 | )
Other income (loss) including equity in income of unconsolidated subsidiaries | 76.6 |  |  | 0.4 |  |  | 0.6 |  |  | (76.7 | ) |  | 0.9 |
Income (loss) before income tax provision (benefit) | 20.6 |  |  | (19.0 | ) |  | 95.7 |  |  | (76.7 | ) |  | 20.6 |
Income tax provision (benefit) | 8.0 |  |  | (6.6 | ) |  | 34.1 |  |  | (27.5 | ) |  | 8.0 |
Net income (loss) | 12.6 |  |  | (12.4 | ) |  | 61.6 |  |  | (49.2 | ) |  | 12.6 |
Less: Net income attributable to noncontrolling interests | — |  |  | — |  |  | 2.6 |  |  | — |  |  | 2.6 |
Net income (loss) attributable to ATI | $ | 12.6 |  |  | $ | (12.4 | ) |  | $ | 59.0 |  |  | $ | (49.2 | ) |  | $ | 10.0 |
Comprehensive income (loss) attributable to ATI | $ | 13.0 |  |  | $ | (9.1 | ) |  | $ | 37.8 |  |  | $ | (31.1 | ) |  | $ | 10.6 |
Allegheny Technologies Incorporated Financial Information for Subsidiary and Guarantor Parent Statements of Operations and Comprehensive Income For the three months ended March 31, 2016
(In millions) | Guarantor Parent |  | Subsidiary |  | Non-guarantor Subsidiaries |  | Eliminations |  | Consolidated
Sales | $ | — |  |  | $ | 213.8 |  |  | $ | 543.7 |  |  | $ | — |  |  | $ | 757.5 |
Cost of sales | 19.4 |  |  | 298.5 |  |  | 472.8 |  |  | — |  |  | 790.7 |
Gross profit (loss) | (19.4 | ) |  | (84.7 | ) |  | 70.9 |  |  | — |  |  | (33.2 | )
Selling and administrative expenses | 21.9 |  |  | 9.7 |  |  | 31.0 |  |  | — |  |  | 62.6 |
Restructuring charges | — |  |  | 9.0 |  |  | — |  |  | — |  |  | 9.0 |
Operating income (loss) | (41.3 | ) |  | (103.4 | ) |  | 39.9 |  |  | — |  |  | (104.8 | )
Interest income (expense), net | (31.2 | ) |  | (14.1 | ) |  | 17.0 |  |  | — |  |  | (28.3 | )
Other income (loss) including equity in income of unconsolidated subsidiaries | (59.8 | ) |  | 0.1 |  |  | 0.8 |  |  | 59.7 |  |  | 0.8 |
Income (loss) before income tax provision (benefit) | (132.3 | ) |  | (117.4 | ) |  | 57.7 |  |  | 59.7 |  |  | (132.3 | )
Income tax provision (benefit) | (34.2 | ) |  | (43.4 | ) |  | 23.7 |  |  | 19.7 |  |  | (34.2 | )
Net income (loss) | (98.1 | ) |  | (74.0 | ) |  | 34.0 |  |  | 40.0 |  |  | (98.1 | )
Less: Net income attributable to noncontrolling interests | — |  |  | — |  |  | 3.1 |  |  | — |  |  | 3.1 |
Net income (loss) attributable to ATI | $ | (98.1 | ) |  | $ | (74.0 | ) |  | $ | 30.9 |  |  | $ | 40.0 |  |  | $ | (101.2 | )
Comprehensive income (loss) attributable to ATI | $ | (80.0 | ) |  | $ | (57.9 | ) |  | $ | 27.3 |  |  | $ | 29.0 |  |  | $ | (81.6 | )
Condensed Statements of Cash Flows | Condensed Statements of Cash Flows For the three months ended March 31, 2016
(In millions) | Guarantor Parent |  | Subsidiary |  | Non-guarantor Subsidiaries |  | Eliminations |  | Consolidated
Cash flows provided by (used in) operating activities | $ | (29.2 | ) |  | $ | (117.3 | ) |  | $ | 85.0 |  |  | $ | — |  |  | $ | (61.5 | )
Investing Activities: |  |  |  |  |  |  |  |  |
Purchases of property, plant and equipment | (0.2 | ) |  | (41.0 | ) |  | (28.3 | ) |  | — |  |  | (69.5 | )
Net receipts/(payments) on intercompany activity | — |  |  | — |  |  | (198.1 | ) |  | 198.1 |  |  | — |
Asset disposals and other | — |  |  | — |  |  | 0.8 |  |  | — |  |  | 0.8 |
Cash flows provided by (used in) investing activities | (0.2 | ) |  | (41.0 | ) |  | (225.6 | ) |  | 198.1 |  |  | (68.7 | )
Financing Activities: |  |  |  |  |  |  |  |  |
Payments on long-term debt and capital leases | (0.2 | ) |  | — |  |  | — |  |  | — |  |  | (0.2 | )
Net borrowings under credit facilities | — |  |  | — |  |  | 152.2 |  |  | — |  |  | 152.2 |
Net receipts/(payments) on intercompany activity | 40.1 |  |  | 158.0 |  |  | — |  |  | (198.1 | ) |  | — |
Dividends paid to stockholders | (8.6 | ) |  | — |  |  | — |  |  | — |  |  | (8.6 | )
Acquisition of noncontrolling interests | — |  |  | — |  |  | (6.1 | ) |  | — |  |  | (6.1 | )
Cash flows provided by (used in) financing activities | 31.3 |  |  | 158.0 |  |  | 146.1 |  |  | (198.1 | ) |  | 137.3 |
Increase (decrease) in cash and cash equivalents | $ | 1.9 |  |  | $ | (0.3 | ) |  | $ | 5.5 |  |  | $ | — |  |  | $ | 7.1 |
Condensed Statements of Cash Flows For the three months ended March 31, 2015
(In millions) | Guarantor Parent |  | Subsidiary |  | Non-guarantor Subsidiaries |  | Eliminations |  | Consolidated
Cash flows provided by (used in) operating activities | $ | (26.3 | ) |  | $ | (42.3 | ) |  | $ | 80.6 |  |  | $ | — |  |  | $ | 12.0 |
Investing Activities: |  |  |  |  |  |  |  |  |
Purchases of property, plant and equipment | — |  |  | (9.1 | ) |  | (13.5 | ) |  | — |  |  | (22.6 | )
Net receipts/(payments) on intercompany activity | — |  |  | — |  |  | (96.9 | ) |  | 96.9 |  |  | — |
Asset disposals and other | — |  |  | 0.1 |  |  | — |  |  | — |  |  | 0.1 |
Cash flows provided by (used in) investing activities | — |  |  | (9.0 | ) |  | (110.4 | ) |  | 96.9 |  |  | (22.5 | )
Financing Activities: |  |  |  |  |  |  |  |  |
Net receipts/(payments) on intercompany activity | 47.4 |  |  | 49.5 |  |  | — |  |  | (96.9 | ) |  | — |
Dividends paid to stockholders | (19.3 | ) |  | — |  |  | — |  |  | — |  |  | (19.3 | )
Other | (1.5 | ) |  | — |  |  | (0.2 | ) |  | — |  |  | (1.7 | )
Cash flows provided by (used in) financing activities | 26.6 |  |  | 49.5 |  |  | (0.2 | ) |  | (96.9 | ) |  | (21.0 | )
Increase (decrease) in cash and cash equivalents | $ | 0.3 |  |  | $ | (1.8 | ) |  | $ | (30.0 | ) |  | $ | — |  |  | $ | (31.5 | )

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