Attached files
| file | filename |
|---|---|
| 8-K - 8-K - ALLEGHENY TECHNOLOGIES INC | form8-ksegmentchange.htm |
Business Segment Results (dollars in millions)
For the three months ended | |||||||||||||
March 31, 2019 | June 30, 2019 | September 30, 2019 | December 31, 2019 | ||||||||||
Sales: | |||||||||||||
High Performance Materials & Components | $ | 496.6 | $ | 533.1 | $ | 451.8 | $ | 497.0 | |||||
Advanced Alloys & Solutions | 508.2 | 547.3 | 566.9 | 521.6 | |||||||||
Total sales | $ | 1,004.8 | $ | 1,080.4 | $ | 1,018.7 | $ | 1,018.6 | |||||
Operating profit: | |||||||||||||
High Performance Materials & Components | $ | 51.7 | $ | 78.4 | $ | 68.4 | $ | 73.1 | |||||
% of sales | 10.4 | % | 14.7 | % | 15.1 | % | 14.7 | % | |||||
Advanced Alloys & Solutions | 10.0 | 36.1 | 30.8 | 32.2 | |||||||||
% of sales | 2.0 | % | 6.6 | % | 5.4 | % | 6.2 | % | |||||
Total operating profit | 61.7 | 114.5 | 99.2 | 105.3 | |||||||||
% of sales | 6.1 | % | 10.6 | % | 9.7 | % | 10.3 | % | |||||
LIFO and net realizable value reserves | (0.1 | ) | — | — | — | ||||||||
Corporate expenses | (16.6 | ) | (18.0 | ) | (16.0 | ) | (16.2 | ) | |||||
Closed operations and other expenses | (3.1 | ) | (7.9 | ) | (8.2 | ) | (6.3 | ) | |||||
Restructuring and other charges | — | — | — | (4.5 | ) | ||||||||
Debt extinguishment charge | — | — | — | (21.6 | ) | ||||||||
Joint venture impairment reserve | — | — | — | (11.4 | ) | ||||||||
Gain on asset sales, net | — | 21.6 | 68.2 | — | |||||||||
Interest expense, net | (24.8 | ) | (25.9 | ) | (24.2 | ) | (24.1 | ) | |||||
Income before income taxes | $ | 17.1 | $ | 84.3 | $ | 119.0 | $ | 21.2 | |||||
For the fiscal year ended December 31, | ||||||||||||||||
2019 | 2018 | 2017 | 2016 | 2015 | ||||||||||||
Sales: | ||||||||||||||||
High Performance Materials & Components | $ | 1,978.5 | $ | 1,963.1 | $ | 1,704.8 | $ | 1,547.8 | $ | 1,585.2 | ||||||
Advanced Alloys & Solutions | 2,144.0 | 2,083.5 | 1,820.3 | 1,586.8 | 2,134.4 | |||||||||||
Total sales | $ | 4,122.5 | $ | 4,046.6 | $ | 3,525.1 | $ | 3,134.6 | $ | 3,719.6 | ||||||
Operating profit (loss): | ||||||||||||||||
High Performance Materials & Components | $ | 271.6 | $ | 269.7 | $ | 191.4 | $ | 122.4 | $ | 96.8 | ||||||
% of sales | 13.7 | % | 13.7 | % | 11.2 | % | 7.9 | % | 6.1 | % | ||||||
Advanced Alloys & Solutions | 109.1 | 143.5 | 92.0 | (116.7 | ) | (181.6 | ) | |||||||||
% of sales | 5.1 | % | 6.9 | % | 5.1 | % | (7.4 | )% | (8.5 | )% | ||||||
Total operating profit (loss) | 380.7 | 413.2 | 283.4 | 5.7 | (84.8 | ) | ||||||||||
% of sales | 9.2 | % | 10.2 | % | 8.0 | % | 0.2 | % | (2.3 | )% | ||||||
LIFO and net realizable value reserves | (0.1 | ) | (0.7 | ) | (0.2 | ) | 0.8 | 0.1 | ||||||||
Corporate expenses | (66.8 | ) | (58.1 | ) | (50.5 | ) | (43.4 | ) | (44.7 | ) | ||||||
Closed operations and other expenses | (25.5 | ) | (21.6 | ) | (34.0 | ) | (34.6 | ) | (22.1 | ) | ||||||
Restructuring and other charges | (4.5 | ) | — | — | (538.5 | ) | (89.7 | ) | ||||||||
Impairment of goodwill | — | — | (114.4 | ) | — | (126.6 | ) | |||||||||
Debt extinguishment charge | (21.6 | ) | — | (37.0 | ) | — | — | |||||||||
Gain on joint venture deconsolidation | — | 15.9 | — | — | — | |||||||||||
Joint venture impairment reserve | (11.4 | ) | — | — | — | — | ||||||||||
Gain on asset sales, net | 89.8 | — | — | — | — | |||||||||||
Interest expense, net | (99.0 | ) | (101.0 | ) | (133.8 | ) | (124.0 | ) | (110.2 | ) | ||||||
Income (loss) before income taxes | $ | 241.6 | $ | 247.7 | $ | (86.5 | ) | $ | (734.0 | ) | $ | (478.0 | ) | |||
Revenue by Market (dollars in millions)
For the fiscal year ended December 31, 2019 | ||||||||||||||||||
AAS | HPMC | Total | ||||||||||||||||
Market | ||||||||||||||||||
Aerospace & Defense: | ||||||||||||||||||
Jet Engines | $ | 100.8 | 5 | % | $ | 1,037.3 | 52 | % | $ | 1,138.1 | 28 | % | ||||||
Airframes | 249.5 | 12 | % | 365.7 | 19 | % | 615.2 | 15 | % | |||||||||
Government Aerospace & Defense | 156.0 | 7 | % | 221.1 | 11 | % | 377.1 | 9 | % | |||||||||
Total Aerospace & Defense | $ | 506.3 | 24 | % | $ | 1,624.1 | 82 | % | $ | 2,130.4 | 52 | % | ||||||
Oil & Gas | 464.5 | 22 | % | 46.1 | 2 | % | 510.6 | 12 | % | |||||||||
Automotive | 286.1 | 13 | % | 10.5 | 1 | % | 296.6 | 7 | % | |||||||||
Energy | 178.8 | 8 | % | 107.5 | 6 | % | 286.3 | 7 | % | |||||||||
Food Equipment & Appliances | 205.5 | 9 | % | 0.3 | — | % | 205.8 | 5 | % | |||||||||
Construction/Mining | 152.5 | 7 | % | 42.5 | 2 | % | 195.0 | 5 | % | |||||||||
Medical | 87.0 | 4 | % | 85.4 | 4 | % | 172.4 | 4 | % | |||||||||
Electronics/Computers/Communications | 162.7 | 8 | % | 0.5 | — | % | 163.2 | 4 | % | |||||||||
Other | 100.6 | 5 | % | 61.6 | 3 | % | 162.2 | 4 | % | |||||||||
Total | $ | 2,144.0 | 100 | % | $ | 1,978.5 | 100 | % | $ | 4,122.5 | 100 | % | ||||||
For the fiscal year ended December 31, 2018 | ||||||||||||||||||
AAS | HPMC | Total | ||||||||||||||||
Market | ||||||||||||||||||
Aerospace & Defense: | ||||||||||||||||||
Jet Engines | $ | 76.1 | 4 | % | $ | 1,075.3 | 55 | % | $ | 1,151.4 | 29 | % | ||||||
Airframes | 230.1 | 11 | % | 306.9 | 16 | % | 537.0 | 13 | % | |||||||||
Government Aerospace & Defense | 96.4 | 5 | % | 180.7 | 9 | % | 277.1 | 7 | % | |||||||||
Total Aerospace & Defense | $ | 402.6 | 20 | % | $ | 1,562.9 | 80 | % | $ | 1,965.5 | 49 | % | ||||||
Oil & Gas | 493.9 | 24 | % | 52.3 | 3 | % | 546.2 | 13 | % | |||||||||
Automotive | 313.9 | 15 | % | 9.5 | — | % | 323.4 | 8 | % | |||||||||
Energy | 152.9 | 7 | % | 81.6 | 4 | % | 234.5 | 6 | % | |||||||||
Food Equipment & Appliances | 244.5 | 12 | % | 0.4 | — | % | 244.9 | 6 | % | |||||||||
Construction/Mining | 153.3 | 7 | % | 72.7 | 4 | % | 226.0 | 6 | % | |||||||||
Medical | 77.1 | 4 | % | 106.0 | 5 | % | 183.1 | 4 | % | |||||||||
Electronics/Computers/Communications | 155.4 | 7 | % | 1.5 | — | % | 156.9 | 4 | % | |||||||||
Other | 89.9 | 4 | % | 76.2 | 4 | % | 166.1 | 4 | % | |||||||||
Total | $ | 2,083.5 | 100 | % | $ | 1,963.1 | 100 | % | $ | 4,046.6 | 100 | % | ||||||
For the fiscal year ended December 31, 2017 | ||||||||||||||||||
AAS | HPMC | Total | ||||||||||||||||
Market | ||||||||||||||||||
Aerospace & Defense: | ||||||||||||||||||
Jet Engines | $ | 59.9 | 3 | % | $ | 896.0 | 53 | % | $ | 955.9 | 27 | % | ||||||
Airframes | 186.7 | 10 | % | 295.6 | 17 | % | 482.3 | 14 | % | |||||||||
Government Aerospace & Defense | 94.5 | 5 | % | 185.4 | 11 | % | 279.9 | 8 | % | |||||||||
Total Aerospace & Defense | $ | 341.1 | 18 | % | $ | 1,377.0 | 81 | % | $ | 1,718.1 | 49 | % | ||||||
Oil & Gas | 368.0 | 20 | % | 50.2 | 3 | % | 418.2 | 12 | % | |||||||||
Automotive | 264.9 | 15 | % | 8.8 | — | % | 273.7 | 8 | % | |||||||||
Energy | 122.7 | 7 | % | 69.5 | 4 | % | 192.2 | 5 | % | |||||||||
Food Equipment & Appliances | 225.6 | 12 | % | 0.4 | — | % | 226.0 | 6 | % | |||||||||
Construction/Mining | 141.7 | 8 | % | 51.2 | 3 | % | 192.9 | 6 | % | |||||||||
Medical | 101.9 | 6 | % | 81.1 | 5 | % | 183.0 | 5 | % | |||||||||
Electronics/Computers/Communications | 150.6 | 8 | % | 1.0 | — | % | 151.6 | 4 | % | |||||||||
Other | 103.8 | 6 | % | 65.6 | 4 | % | 169.4 | 5 | % | |||||||||
Total | $ | 1,820.3 | 100 | % | $ | 1,704.8 | 100 | % | $ | 3,525.1 | 100 | % | ||||||