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Per Share Information
 6 Months Ended
Jun. 29, 2025
Earnings Per Share [Abstract]  
Per Share Information Per Share Information
The following table sets forth the computation of basic and diluted income per common share: 
(In millions, except per share amounts)Quarter endedYear-to-date period ended
June 29, 2025June 30, 2024June 29, 2025June 30, 2024
Numerator:
Numerator for basic income per common share –
Net income attributable to ATI$100.7 $81.9 $197.7 $148.0 
Effect of dilutive securities:
3.5% Convertible Senior Notes due 2025
— 2.2 — 4.3 
Numerator for diluted net income per common share –
Net income attributable to ATI after assumed conversions$100.7 $84.1 $197.7 $152.3 
Denominator:
Denominator for basic net income per common share – weighted average shares139.8 124.4 140.7 125.3 
Effect of dilutive securities:
Share-based compensation3.3 3.1 3.0 2.8 
3.5% Convertible Senior Notes due 2025
— 18.8 — 18.8 
Denominator for diluted net income per common share – adjusted weighted average shares and assumed conversions143.1 146.3 143.7 146.9 
Basic net income attributable to ATI per common share$0.72 $0.66 $1.40 $1.18 
Diluted net income attributable to ATI per common share$0.70 $0.58 $1.38 $1.04 
Common stock that would be issuable upon the assumed conversion of the 2025 Convertible Notes, prior to their redemption during the third quarter of 2024, and other option equivalents and contingently issuable shares are excluded from the computation of contingently issuable shares, and therefore, from the denominator for diluted earnings per share, if the effect of inclusion is anti-dilutive. There were no anti-dilutive shares for the quarters and year-to-date periods ended June 29, 2025 and June 30, 2024.
Periodically, the Company’s Board of Directors authorizes the repurchase of ATI common stock (the “Share Repurchase Program”), most recently authorizing the repurchase of up to $700 million, as announced in September 2024. Repurchases under these programs are made in the open market or in privately negotiated transactions, with the amount and timing of repurchases depending on market conditions and corporate needs. Open market repurchases are structured to occur within the pricing and volume requirements of SEC Rule 10b-18. In the quarter and year-to-date period ended June 29, 2025, ATI used $250.0 million and $320.0 million, respectively, to repurchase 3.2 million and 4.4 million, respectively, of its common stock under the Share Repurchase Program. At June 29, 2025, the Company has utilized $430 million of the $700 million currently authorized under the Share Repurchase Program. In the year-to-date period ended June 30, 2024, ATI used $150.0 million to repurchase 3.4 million shares of its common stock under the Share Repurchase Program.
The Company’s share repurchases are subject to a 1% excise tax due to the Inflation Reduction Act of 2022. Excise taxes incurred on share repurchases represent direct costs of the repurchase and are recorded as part of the cost basis of the shares within treasury stock. The cost of share repurchases for the quarter and year-to-date period ended June 29, 2025 of $252.6 million and $322.8 million, respectively, differs from the repurchases of common stock amounts in the consolidated statements of cash flows due to these excise taxes. The cost of share repurchases for the year-to-date period ended June 30, 2024 of $151.2 million differs from the repurchases of common stock amounts in the consolidated statements of cash flows due to these excise taxes.