XML 47 R36.htm IDEA: XBRL DOCUMENT
v3.5.0.2

Financial Information for Subsidiary and Guarantor Parent (Tables) | 9 Months Ended
--- | ---
Sep. 30, 2016
Condensed Statement of Income Captions [Line Items] |
Balance Sheets | 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 | 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 (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 |
Balance Sheets September 30, 2016
(In millions) | Guarantor Parent |  | Subsidiary |  | Non-guarantor Subsidiaries |  | Eliminations |  | Consolidated
Assets: |  |  |  |  |  |  |  |  |
Cash and cash equivalents | $ | 2.3 |  |  | $ | 4.3 |  |  | $ | 181.8 |  |  | $ | — |  |  | $ | 188.4 |
Accounts receivable, net | 0.1 |  |  | 115.7 |  |  | 338.2 |  |  | — |  |  | 454.0 |
Intercompany notes receivable | — |  |  | — |  |  | 2,955.8 |  |  | (2,955.8 | ) |  | — |
Inventories, net | — |  |  | 137.6 |  |  | 941.3 |  |  | — |  |  | 1,078.9 |
Prepaid expenses and other current assets | 3.3 |  |  | 4.9 |  |  | 32.6 |  |  | — |  |  | 40.8 |
Total current assets | 5.7 |  |  | 262.5 |  |  | 4,449.7 |  |  | (2,955.8 | ) |  | 1,762.1 |
Property, plant and equipment, net | 1.5 |  |  | 1,587.7 |  |  | 925.2 |  |  | — |  |  | 2,514.4 |
Goodwill | — |  |  | — |  |  | 644.4 |  |  | — |  |  | 644.4 |
Intercompany notes receivable | — |  |  | — |  |  | 200.0 |  |  | (200.0 | ) |  | — |
Investment in subsidiaries | 5,363.3 |  |  | 37.7 |  |  | — |  |  | (5,401.0 | ) |  | — |
Other assets | 22.1 |  |  | 26.1 |  |  | 223.2 |  |  | — |  |  | 271.4 |
Total assets | $ | 5,392.6 |  |  | $ | 1,914.0 |  |  | $ | 6,442.5 |  |  | $ | (8,556.8 | ) |  | $ | 5,192.3 |
Liabilities and stockholders’ equity: |  |  |  |  |  |  |  |  |
Accounts payable | $ | 3.5 |  |  | $ | 123.9 |  |  | $ | 157.8 |  |  | $ | — |  |  | $ | 285.2 |
Accrued liabilities | 35.6 |  |  | 91.0 |  |  | 184.3 |  |  | — |  |  | 310.9 |
Intercompany notes payable | 1,442.1 |  |  | 1,513.7 |  |  | — |  |  | (2,955.8 | ) |  | — |
Short-term debt and current portion of long-term debt | 0.7 |  |  | 0.3 |  |  | 4.4 |  |  | — |  |  | 5.4 |
Total current liabilities | 1,481.9 |  |  | 1,728.9 |  |  | 346.5 |  |  | (2,955.8 | ) |  | 601.5 |
Long-term debt | 1,620.9 |  |  | 149.9 |  |  | 99.6 |  |  | — |  |  | 1,870.4 |
Intercompany notes payable | — |  |  | 200.0 |  |  | — |  |  | (200.0 | ) |  | — |
Accrued postretirement benefits | — |  |  | 245.1 |  |  | 66.5 |  |  | — |  |  | 311.6 |
Pension liabilities | 658.9 |  |  | 4.7 |  |  | 45.0 |  |  | — |  |  | 708.6 |
Deferred income taxes | 51.3 |  |  | — |  |  | — |  |  | — |  |  | 51.3 |
Other long-term liabilities | 16.9 |  |  | 18.8 |  |  | 50.5 |  |  | — |  |  | 86.2 |
Total liabilities | 3,829.9 |  |  | 2,347.4 |  |  | 608.1 |  |  | (3,155.8 | ) |  | 3,629.6 |
Total stockholders’ equity (deficit) | 1,562.7 |  |  | (433.4 | ) |  | 5,834.4 |  |  | (5,401.0 | ) |  | 1,562.7 |
Total liabilities and stockholders’ equity | $ | 5,392.6 |  |  | $ | 1,914.0 |  |  | $ | 6,442.5 |  |  | $ | (8,556.8 | ) |  | $ | 5,192.3 |
Statements of Operations and Comprehensive Income | Statements of Operations and Comprehensive Income For the three months ended September 30, 2015
(In millions) | Guarantor Parent |  | Subsidiary |  | Non-guarantor Subsidiaries |  | Eliminations |  | Consolidated
Sales | $ | — |  |  | $ | 286.3 |  |  | $ | 546.4 |  |  | $ | — |  |  | $ | 832.7 |
Cost of sales | 9.2 |  |  | 363.5 |  |  | 488.7 |  |  | — |  |  | 861.4 |
Gross profit (loss) | (9.2 | ) |  | (77.2 | ) |  | 57.7 |  |  | — |  |  | (28.7 | )
Selling and administrative expenses | 22.9 |  |  | 9.3 |  |  | 30.3 |  |  | — |  |  | 62.5 |
Operating income (loss) | (32.1 | ) |  | (86.5 | ) |  | 27.4 |  |  | — |  |  | (91.2 | )
Interest income (expense), net | (29.5 | ) |  | (12.6 | ) |  | 14.6 |  |  | — |  |  | (27.5 | )
Other income (loss) including equity in income of unconsolidated subsidiaries | (56.3 | ) |  | 0.2 |  |  | 0.7 |  |  | 56.2 |  |  | 0.8 |
Income (loss) before income tax provision (benefit) | (117.9 | ) |  | (98.9 | ) |  | 42.7 |  |  | 56.2 |  |  | (117.9 | )
Income tax provision (benefit) | 23.4 |  |  | (35.1 | ) |  | 11.0 |  |  | 24.1 |  |  | 23.4 |
Net income (loss) | (141.3 | ) |  | (63.8 | ) |  | 31.7 |  |  | 32.1 |  |  | (141.3 | )
Less: Net income attributable to noncontrolling interests | — |  |  | — |  |  | 3.3 |  |  | — |  |  | 3.3 |
Net income (loss) attributable to ATI | $ | (141.3 | ) |  | $ | (63.8 | ) |  | $ | 28.4 |  |  | $ | 32.1 |  |  | $ | (144.6 | )
Comprehensive income (loss) attributable to ATI | $ | (163.5 | ) |  | $ | (60.5 | ) |  | $ | 16.7 |  |  | $ | 44.6 |  |  | $ | (162.7 | )
Allegheny Technologies Incorporated Financial Information for Subsidiary and Guarantor Parent Statements of Operations and Comprehensive Income For the nine months ended September 30, 2015
(In millions) | Guarantor Parent |  | Subsidiary |  | Non-guarantor Subsidiaries |  | Eliminations |  | Consolidated
Sales | $ | — |  |  | $ | 1,231.5 |  |  | $ | 1,749.2 |  |  | $ | — |  |  | $ | 2,980.7 |
Cost of sales | 22.0 |  |  | 1,296.5 |  |  | 1,504.4 |  |  | — |  |  | 2,822.9 |
Gross profit (loss) | (22.0 | ) |  | (65.0 | ) |  | 244.8 |  |  | — |  |  | 157.8 |
Selling and administrative expenses | 70.1 |  |  | 30.4 |  |  | 97.5 |  |  | — |  |  | 198.0 |
Operating income (loss) | (92.1 | ) |  | (95.4 | ) |  | 147.3 |  |  | — |  |  | (40.2 | )
Interest income (expense), net | (86.1 | ) |  | (37.3 | ) |  | 42.4 |  |  | — |  |  | (81.0 | )
Other income (loss) including equity in income of unconsolidated subsidiaries | 59.3 |  |  | 0.8 |  |  | 1.8 |  |  | (59.6 | ) |  | 2.3 |
Income (loss) before income tax provision (benefit) | (118.9 | ) |  | (131.9 | ) |  | 191.5 |  |  | (59.6 | ) |  | (118.9 | )
Income tax provision (benefit) | 23.7 |  |  | (46.3 | ) |  | 67.4 |  |  | (21.1 | ) |  | 23.7 |
Net income (loss) | (142.6 | ) |  | (85.6 | ) |  | 124.1 |  |  | (38.5 | ) |  | (142.6 | )
Less: Net income attributable to noncontrolling interests | — |  |  | — |  |  | 8.4 |  |  | — |  |  | 8.4 |
Net income (loss) attributable to ATI | $ | (142.6 | ) |  | $ | (85.6 | ) |  | $ | 115.7 |  |  | $ | (38.5 | ) |  | $ | (151.0 | )
Comprehensive income (loss) attributable to ATI | $ | (140.4 | ) |  | $ | (76.0 | ) |  | $ | 101.9 |  |  | $ | (30.5 | ) |  | $ | (145.0 | )
Statements of Operations and Comprehensive Income For the three months ended September 30, 2016
(In millions) | Guarantor Parent |  | Subsidiary |  | Non-guarantor Subsidiaries |  | Eliminations |  | Consolidated
Sales | $ | — |  |  | $ | 253.0 |  |  | $ | 517.5 |  |  | $ | — |  |  | $ | 770.5 |
Cost of sales | 14.0 |  |  | 266.6 |  |  | 439.7 |  |  | — |  |  | 720.3 |
Gross profit (loss) | (14.0 | ) |  | (13.6 | ) |  | 77.8 |  |  | — |  |  | 50.2 |
Selling and administrative expenses | 23.8 |  |  | 4.2 |  |  | 32.5 |  |  | — |  |  | 60.5 |
Restructuring charges | — |  |  | 0.5 |  |  | 488.1 |  |  | — |  |  | 488.6 |
Operating loss | (37.8 | ) |  | (18.3 | ) |  | (442.8 | ) |  | — |  |  | (498.9 | )
Interest income (expense), net | (36.5 | ) |  | (19.3 | ) |  | 23.2 |  |  | — |  |  | (32.6 | )
Other income (loss) including equity in income of unconsolidated subsidiaries | (457.2 | ) |  | 0.2 |  |  | (0.2 | ) |  | 457.2 |  |  | — |
Income (loss) before income tax provision (benefit) | (531.5 | ) |  | (37.4 | ) |  | (419.8 | ) |  | 457.2 |  |  | (531.5 | )
Income tax provision (benefit) | (4.3 | ) |  | (9.1 | ) |  | (165.8 | ) |  | 174.9 |  |  | (4.3 | )
Net income (loss) | (527.2 | ) |  | (28.3 | ) |  | (254.0 | ) |  | 282.3 |  |  | (527.2 | )
Less: Net income attributable to noncontrolling interests | — |  |  | — |  |  | 3.6 |  |  | — |  |  | 3.6 |
Net income (loss) attributable to ATI | $ | (527.2 | ) |  | $ | (28.3 | ) |  | $ | (257.6 | ) |  | $ | 282.3 |  |  | $ | (530.8 | )
Comprehensive income (loss) attributable to ATI | $ | (516.8 | ) |  | $ | (27.0 | ) |  | $ | (260.0 | ) |  | $ | 285.0 |  |  | $ | (518.8 | )
Allegheny Technologies Incorporated Financial Information for Subsidiary and Guarantor Parent Statements of Operations and Comprehensive Income For the nine months ended September 30, 2016
(In millions) | Guarantor Parent |  | Subsidiary |  | Non-guarantor Subsidiaries |  | Eliminations |  | Consolidated
Sales | $ | — |  |  | $ | 727.7 |  |  | $ | 1,610.8 |  |  | $ | — |  |  | $ | 2,338.5 |
Cost of sales | 43.0 |  |  | 852.0 |  |  | 1,378.3 |  |  | — |  |  | 2,273.3 |
Gross profit (loss) | (43.0 | ) |  | (124.3 | ) |  | 232.5 |  |  | — |  |  | 65.2 |
Selling and administrative expenses | 66.3 |  |  | 18.8 |  |  | 97.3 |  |  | — |  |  | 182.4 |
Restructuring charges | — |  |  | 9.5 |  |  | 489.1 |  |  | — |  |  | 498.6 |
Operating loss | (109.3 | ) |  | (152.6 | ) |  | (353.9 | ) |  | — |  |  | (615.8 | )
Interest income (expense), net | (101.4 | ) |  | (51.0 | ) |  | 61.2 |  |  | — |  |  | (91.2 | )
Other income (loss) including equity in income of unconsolidated subsidiaries | (494.5 | ) |  | 0.6 |  |  | 1.5 |  |  | 494.2 |  |  | 1.8 |
Income (loss) before income tax provision (benefit) | (705.2 | ) |  | (203.0 | ) |  | (291.2 | ) |  | 494.2 |  |  | (705.2 | )
Income tax provision (benefit) | (64.4 | ) |  | (70.1 | ) |  | (116.3 | ) |  | 186.4 |  |  | (64.4 | )
Net income (loss) | (640.8 | ) |  | (132.9 | ) |  | (174.9 | ) |  | 307.8 |  |  | (640.8 | )
Less: Net income attributable to noncontrolling interests | — |  |  | — |  |  | 10.0 |  |  | — |  |  | 10.0 |
Net income (loss) attributable to ATI | $ | (640.8 | ) |  | $ | (132.9 | ) |  | $ | (184.9 | ) |  | $ | 307.8 |  |  | $ | (650.8 | )
Comprehensive income (loss) attributable to ATI | $ | (592.6 | ) |  | $ | (114.2 | ) |  | $ | (199.0 | ) |  | $ | 307.8 |  |  | $ | (598.0 | )
Condensed Statements of Cash Flows | Condensed Statements of Cash Flows For the nine months ended September 30, 2016
(In millions) | Guarantor Parent |  | Subsidiary |  | Non-guarantor Subsidiaries |  | Eliminations |  | Consolidated
Cash flows provided by (used in) operating activities | $ | (73.0 | ) |  | $ | (183.7 | ) |  | $ | 169.0 |  |  | $ | (24.0 | ) |  | $ | (111.7 | )
Investing Activities: |  |  |  |  |  |  |  |  |
Purchases of property, plant and equipment | (0.5 | ) |  | (93.0 | ) |  | (81.4 | ) |  | — |  |  | (174.9 | )
Net receipts/(payments) on intercompany activity | — |  |  | — |  |  | (102.0 | ) |  | 102.0 |  |  | — |
Asset disposals and other | — |  |  | — |  |  | 2.1 |  |  | — |  |  | 2.1 |
Cash flows provided by (used in) investing activities | (0.5 | ) |  | (93.0 | ) |  | (181.3 | ) |  | 102.0 |  |  | (172.8 | )
Financing Activities: |  |  |  |  |  |  |  |  |
Borrowings on long-term debt | 287.5 |  |  | — |  |  | 100.0 |  |  | — |  |  | 387.5 |
Payments on long-term debt and capital leases | (0.5 | ) |  | (0.2 | ) |  | (1.7 | ) |  | — |  |  | (2.4 | )
Net borrowings under credit facilities | — |  |  | — |  |  | 2.4 |  |  | — |  |  | 2.4 |
Debt issuance costs | (9.4 | ) |  | — |  |  | (1.0 | ) |  | — |  |  | (10.4 | )
Net receipts/(payments) on intercompany activity | (176.4 | ) |  | 278.4 |  |  | — |  |  | (102.0 | ) |  | — |
Dividends paid to stockholders | (25.8 | ) |  | — |  |  | (24.0 | ) |  | 24.0 |  |  | (25.8 | )
Dividends paid to noncontrolling interests | — |  |  | — |  |  | (16.0 | ) |  | — |  |  | (16.0 | )
Acquisition of noncontrolling interests | — |  |  | — |  |  | (12.2 | ) |  | — |  |  | (12.2 | )
Cash flows provided by (used in) financing activities | 75.4 |  |  | 278.2 |  |  | 47.5 |  |  | (78.0 | ) |  | 323.1 |
Increase in cash and cash equivalents | $ | 1.9 |  |  | $ | 1.5 |  |  | $ | 35.2 |  |  | $ | — |  |  | $ | 38.6 |
Condensed Statements of Cash Flows For the nine months ended September 30, 2015
(In millions) | Guarantor Parent |  | Subsidiary |  | Non-guarantor Subsidiaries |  | Eliminations |  | Consolidated
Cash flows provided by (used in) operating activities | $ | (61.3 | ) |  | $ | (171.1 | ) |  | $ | 341.3 |  |  | $ | — |  |  | $ | 108.9 |
Investing Activities: |  |  |  |  |  |  |  |  |
Purchases of property, plant and equipment | (0.1 | ) |  | (45.0 | ) |  | (54.4 | ) |  | — |  |  | (99.5 | )
Purchases of businesses, net of cash acquired | — |  |  | — |  |  | (0.5 | ) |  | — |  |  | (0.5 | )
Net receipts/(payments) on intercompany activity | — |  |  | — |  |  | (333.3 | ) |  | 333.3 |  |  | — |
Asset disposals and other | — |  |  | 0.2 |  |  | (0.2 | ) |  | — |  |  | — |
Cash flows provided by (used in) investing activities | (0.1 | ) |  | (44.8 | ) |  | (388.4 | ) |  | 333.3 |  |  | (100.0 | )
Financing Activities: |  |  |  |  |  |  |  |  |
Payments on long-term debt and capital leases | (0.4 | ) |  | (0.1 | ) |  | (22.8 | ) |  | — |  |  | (23.3 | )
Net receipts/(payments) on intercompany activity | 124.2 |  |  | 209.1 |  |  | — |  |  | (333.3 | ) |  | — |
Dividends paid to stockholders | (57.9 | ) |  | — |  |  | — |  |  | — |  |  | (57.9 | )
Other | (1.3 | ) |  | — |  |  | 1.6 |  |  | — |  |  | 0.3 |
Cash flows provided by (used in) financing activities | 64.6 |  |  | 209.0 |  |  | (21.2 | ) |  | (333.3 | ) |  | (80.9 | )
Increase (decrease) in cash and cash equivalents | $ | 3.2 |  |  | $ | (6.9 | ) |  | $ | (68.3 | ) |  | $ | — |  |  | $ | (72.0 | )

X
- Definition Condensed Statement of Income and Comprehensive Income [Table Text Block] + References No definition available. + Details
Name: | ati_CondensedStatementofIncomeandComprehensiveIncomeTableTextBlock
Namespace Prefix: | ati_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. + References No definition available. + Details
Name: | us-gaap_CondensedStatementOfIncomeCaptionsLineItems
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of condensed balance sheet, including, but not limited to, balance sheets of consolidated entities and consolidation eliminations. + References No definition available. + Details
Name: | us-gaap_ScheduleOfCondensedBalanceSheetTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of condensed cash flow statement, including, but not limited to, cash flow statements of consolidated entities and consolidation eliminations. + References No definition available. + Details
Name: | us-gaap_ScheduleOfCondensedCashFlowStatementTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration