Financial Information for Subsidiary and Guarantor Parent (Tables)

12 Months Ended

Dec. 31, 2016

Financial Information for Subsidiary and Guarantor Parent [Abstract]

Schedule of condensed consolidating balance sheets

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 (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

Allegheny Technologies Incorporated

Financial Information for Subsidiary and Guarantor Parent

Balance Sheets

December 31, 2016



(In millions)	Guarantor Parent		Subsidiary			Non-guarantor Subsidiaries		Eliminations			Consolidated
Assets:
Cash and cash equivalents	$	2.3	$	2.5		$	224.8	$	—		$	229.6
Accounts receivable, net	0.1		107.8			344.2		—			452.1
Intercompany notes receivable	—		—			2,892.9		(2,892.9		)	—
Inventories, net	—		106.7			930.3		—			1,037.0
Prepaid expenses and other current assets	6.6		5.2			36.0		—			47.8
Total current assets	9.0		222.2			4,428.2		(2,892.9		)	1,766.5
Property, plant and equipment, net	1.3		1,583.6			914.0		—			2,498.9
Goodwill	—		—			641.9		—			641.9
Intercompany notes receivable	—		—			200.0		(200.0		)	—
Investments in subsidiaries	5,241.2		37.7			—		(5,278.9		)	—
Other assets	23.0		25.5			214.2		—			262.7
Total assets	$	5,274.5	$	1,869.0		$	6,398.3	$	(8,371.8	)	$	5,170.0
Liabilities and stockholders’ equity:
Accounts payable	$	3.1	$	97.4		$	193.8	$	—		$	294.3
Accrued liabilities	54.6		83.3			171.4		—			309.3
Intercompany notes payable	1,341.1		1,551.8			—		(2,892.9		)	—
Short-term debt and current portion of long-term debt	0.4		0.3			104.4		—			105.1
Total current liabilities	1,399.2		1,732.8			469.6		(2,892.9		)	708.7
Long-term debt	1,621.7		150.0			0.2		—			1,771.9
Intercompany notes payable	—		200.0			—		(200.0		)	—
Accrued postretirement benefits	—		244.0			73.7		—			317.7
Pension liabilities	778.5		5.2			44.2		—			827.9
Deferred income taxes	15.6		—			—		—			15.6
Other long-term liabilities	14.7		18.1			50.6		—			83.4
Total liabilities	3,829.7		2,350.1			638.3		(3,092.9		)	3,725.2
Total stockholders’ equity (deficit)	1,444.8		(481.1		)	5,760.0		(5,278.9		)	1,444.8
Total liabilities and stockholders’ equity	$	5,274.5	$	1,869.0		$	6,398.3	$	(8,371.8	)	$	5,170.0

Schedule of condensed consolidating statements of operations

Allegheny Technologies Incorporated

Financial Information for Subsidiary and Guarantor Parent

Statements of Operations

For the year ended December 31, 2016



(In millions)	Guarantor Parent			Subsidiary			Non-guarantor Subsidiaries			Eliminations		Consolidated
Sales	$	—		$	983.6		$	2,151.0		$	—	$	3,134.6
Cost of sales	53.4			1,102.0			1,816.7			—		2,972.1
Gross profit (loss)	(53.4		)	(118.4		)	334.3			—		162.5
Selling and administrative expenses	89.9			32.3			125.5			—		247.7
Restructuring charges	—			25.1			502.1			—		527.2
Operating loss	(143.3		)	(175.8		)	(293.3		)	—		(612.4		)
Interest income (expense), net	(138.3		)	(70.7		)	85.0			—		(124.0		)
Other income (expense) including equity in income of unconsolidated subsidiaries	(452.4		)	1.0			1.4			452.4		2.4
Income (loss) from continuing operations before income taxes	(734.0		)	(245.5		)	(206.9		)	452.4		(734.0		)
Income tax provision (benefit)	(106.9		)	(85.5		)	(66.7		)	152.2		(106.9		)
Net income (loss)	(627.1		)	(160.0		)	(140.2		)	300.2		(627.1		)
Less: Net income attributable to noncontrolling interest	—			—			13.8			—		13.8
Net income (loss) attributable to ATI	$	(627.1	)	$	(160.0	)	$	(154.0	)	$	300.2	$	(640.9	)

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
Gross profit (loss)	(45.3		)	3.2			420.7			—			378.6
Selling and administrative expenses	103.9			44.0			124.6			—			272.5
Operating income (loss)	(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 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
Gross profit (loss)	(27.3		)	(190.0		)	277.6		—		60.3
Selling and administrative expenses	88.2			29.4			121.2		—		238.8
Restructuring charges	1.6			58.0			4.7		—		64.3
Impairment of goodwill	—			126.6			—		—		126.6
Operating income (loss)	(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		)
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	)

Schedule of condensed consolidating comprehensive income

Allegheny Technologies Incorporated

Financial Information for Subsidiary and Guarantor Parent

Statements of Comprehensive Income (Loss)

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	)

Allegheny Technologies Incorporated

Financial Information for Subsidiary and Guarantor Parent

Statements of Comprehensive Income (Loss)

For the year ended December 31, 2016



(In millions)	Guarantor Parent			Subsidiary			Non-guarantor Subsidiaries			Eliminations			Consolidated
Net income (loss)	$	(627.1	)	$	(160.0	)	$	(140.2	)	$	300.2		$	(627.1	)
Other comprehensive income (loss)
Currency translation adjustment arising during the period	(47.1		)	—			(47.1		)	47.1			(47.1		)
Net derivative gain on hedge transactions	19.6			—			—			—			19.6
Pension and postretirement benefits	(61.4		)	17.2			1.8			(19.0		)	(61.4		)
Other comprehensive income (loss), net of tax	(88.9		)	17.2			(45.3		)	28.1			(88.9		)
Comprehensive income (loss)	(716.0		)	(142.8		)	(185.5		)	328.3			(716.0		)
Less: Comprehensive income attributable to noncontrolling interest	—			—			4.1			—			4.1
Comprehensive income (loss) attributable to ATI	$	(716.0	)	$	(142.8	)	$	(189.6	)	$	328.3		$	(720.1	)

Allegheny Technologies Incorporated

Financial Information for Subsidiary and Guarantor Parent

Statements of Comprehensive Income (Loss)

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	)

Schedule of condensed consolidating statements of cash flow

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 acivity	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	)

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-terms debt and capital leases	(397.9		)	(0.1		)	(16.9		)	—			(414.9		)
Net receipts (payments) on intercompany activity	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	)

Condensed Statements of Cash Flows

For the year ended December 31, 2016



(In millions)	Guarantor Parent			Subsidiary			Non-guarantor Subsidiaries			Eliminations			Consolidated
Cash flows provided by (used in) operating activities	$	(78.5	)	$	(232.3	)	$	291.1		$	(24.0	)	$	(43.7	)
Investing Activities:
Purchases of property, plant and equipment	(0.5		)	(98.7		)	(103.0		)	—			(202.2		)
Net receipts (payments) on intercompany activity	—			—			(160.0		)	160.0			—
Asset disposals and other	—			0.2			2.0			—			2.2
Cash flows provided by (used in) investing activities	(0.5		)	(98.5		)	(261.0		)	160.0			(200.0		)
Financing Activities:
Borrowings on long-term debt	287.5			—			100.0			—			387.5
Payments on long-term debt and capital leases	(0.7		)	(0.2		)	(1.8		)	—			(2.7		)
Net borrowings under credit facilities	—			—			3.1			—			3.1
Debt issuance costs	(9.4		)	—			(1.0		)	—			(10.4		)
Net receipts (payments) on intercompany activity	(170.7		)	330.7			—			(160.0		)	—
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	80.9			330.5			48.1			(136.0		)	323.5
Increase (decrease) in cash and cash equivalents	$	1.9		$	(0.3	)	$	78.2		$	—		$	79.8