$TKR

TIMKEN CO

CIK:0000098362|SEC Filings

Consolidated Statements of Income (Unaudited) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Income Statement [Abstract]
Net sales	$ 1,260.9	$ 1,173.4	$ 2,492.2	$ 2,313.7
Cost of products sold	861.6	813.1	1,698.9	1,594.7
Selling, general and administrative expenses	205.9	189.7	407.1	374.5
Amortization of intangible assets	20.7	19.9	41.3	38.9
Impairment and restructuring charges	87.9	2.9	91.5	13.8
Operating Income	84.8	147.8	253.4	291.8
Interest expense	(26.2)	(29.8)	(50.5)	(56.3)
Interest income	2.5	3.0	4.2	5.3
Non-service pension and other postretirement expense	(0.7)	(1.2)	(1.4)	(2.4)
Other expense, net	(2.5)	(3.4)	(4.9)	(3.7)
Income Before Income Taxes	57.9	116.4	200.8	234.7
Provision for income taxes	20.7	30.7	57.7	57.6
Net Income	37.2	85.7	143.1	177.1
Less: Net income attributable to noncontrolling interest	8.3	7.2	16.0	20.3
Net Income Attributable to The Timken Company	$ 28.9	$ 78.5	$ 127.1	$ 156.8
Net Income per Common Share Attributable to The Timken Company Common Shareholders
Basic earnings per share (in dollars per share)	$ 0.42	$ 1.13	$ 1.83	$ 2.24
Diluted earnings per share (in dollars per share)	$ 0.41	$ 1.12	$ 1.81	$ 2.23

Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
Operating Activities
Net Income	$ 143.1	$ 177.1
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	118.6	112.3
Impairment charges	79.0	0.0
Loss (gain) on sale of assets	0.4	(0.9)
Deferred income tax expense (benefit)	2.8	(0.7)
Stock-based compensation expense	14.5	14.4
Pension and other postretirement expense	2.6	3.7
Pension and other postretirement benefit contributions and payments	(18.1)	(28.4)
Changes in operating assets and liabilities:
Accounts receivable	(124.6)	(91.8)
Unbilled receivables	(36.6)	(12.3)
Inventories	(17.9)	20.5
Accounts payable, trade	23.1	23.0
Other accrued expenses	(24.1)	(27.4)
Income taxes	(11.8)	(21.3)
Other, net	(4.6)	1.7
Net Cash Provided by Operating Activities	146.4	169.9
Investing Activities
Capital expenditures	(65.4)	(68.3)
Acquisitions, net of cash acquired of $6.8 million	(124.4)	0.0
Proceeds from disposal of property, plant and equipment	0.3	2.0
Investments in short-term marketable securities, net	9.0	4.7
Net Cash Used in Investing Activities	(180.5)	(61.6)
Financing Activities
Cash dividends paid to shareholders	(50.3)	(49.5)
Purchase of treasury shares	(48.0)	(45.7)
Proceeds from exercise of stock options	5.3	0.5
Payments related to tax withholding for stock-based compensation	(10.4)	(9.8)
Borrowings on accounts receivable facility	135.0	239.0
Payments on accounts receivable facility	(55.0)	(239.0)
Proceeds from long-term debt	468.5	46.0
Payments on long-term debt	(372.4)	(53.3)
Short-term debt activity, net	2.0	26.9
Net Cash Provided by (Used in) Financing Activities	74.7	(84.9)
Effect of exchange rate changes on cash	(5.5)	23.8
Increase in Cash, Cash Equivalents and Restricted Cash	35.1	47.2
Cash, cash equivalents and restricted cash at beginning of year	365.4	373.6
Cash, Cash Equivalents and Restricted Cash at End of Period	$ 400.5	$ 420.8

Consolidated Balance Sheets - USD ($) $ in Millions	Jun. 30, 2026	Dec. 31, 2025
Current Assets
Cash and cash equivalents	$ 399.1	$ 364.4
Restricted cash	1.4	1.0
Accounts receivable, less allowances (2026 - $13.7 million; 2025 - $12.3 million)	822.9	689.4
Unbilled receivables	174.0	137.6
Inventories, net	1,249.1	1,243.3
Deferred charges and prepaid expenses	52.7	45.7
Other current assets	143.3	119.4
Total Current Assets	2,842.5	2,600.8
Property, Plant and Equipment, net	1,289.9	1,357.6
Other Assets
Goodwill	1,517.1	1,486.4
Other intangible assets, net	955.9	1,002.3
Operating lease assets	152.4	152.9
Deferred income taxes	44.9	53.2
Other non-current assets	22.9	23.6
Total Other Assets	2,693.2	2,718.4
Total Assets	6,825.6	6,676.8
Current Liabilities
Accounts payable, trade	371.1	353.2
Short-term debt, including current portion of long-term debt	40.2	38.9
Salaries, wages and benefits	153.3	157.5
Income taxes payable	17.3	31.4
Other current liabilities	336.4	341.1
Total Current Liabilities	918.3	922.1
Non-Current Liabilities
Long-term debt	2,036.0	1,883.1
Accrued pension benefits	136.6	148.9
Accrued postretirement benefits	29.2	29.3
Long-term operating lease liabilities	94.3	100.8
Deferred income taxes	151.1	146.7
Other non-current liabilities	97.0	100.2
Total Non-Current Liabilities	2,544.2	2,409.0
Shareholders’ Equity
Class I and II Serial Preferred Stock, without par value: Authorized – 10,000,000 shares each class, none issued	0.0	0.0
Common shares, without par value: Authorized – 200,000,000 shares Issued (including shares in treasury) (2026 – 80,005,960 shares; 2025 – 79,611,543 shares)	40.7	40.7
Other paid-in capital	1,319.3	1,299.5
Retained earnings	2,755.7	2,678.9
Accumulated other comprehensive loss	(124.8)	(96.5)
Treasury shares at cost (2026 – 10,609,149 shares; 2025 – 10,076,175 shares)	(796.4)	(738.0)
Total Shareholders’ Equity	3,194.5	3,184.6
Noncontrolling Interest	168.6	161.1
Total Equity	3,363.1	3,345.7
Total Liabilities and Equity	$ 6,825.6	$ 6,676.8