TimkenSteel-2014-Annual-Report-FINAL-03112015_v001_d4t4ig

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people who thrive on challenges
As smart, strong and reliable as our steel, our people are at the heart of the problemsolving culture that delivers tailored solutions to customers’ toughest engineering and supply chain challenges. Whether it’s battling corrosive conditions five miles below the ocean’s surface or handling the torque of a bearing in a wind turbine 250 feet in the air, we thrive on developing steel solutions for the world’s most demanding applications. STRONG COMMUNITIES STRENGTHEN OUR BUSINESS Our success relies on having the best people who can think on their feet and solve tough problems – in every position in the company. Fundamentally, we believe thriving communities attract the best talent to our growing organization and develop young people who will be the workforce of tomorrow. Our industry-leading expertise in metallurgy, steelmaking, heat treating, machining and industrial applications consistently provides our customers with enhanced value and, ultimately, peace of mind. Institutionally, we offer a century of expertise. Individually, our people are highly educated and specialized professionals who drive results. To optimize our work with customers, our sales team is comprised largely of engineers. In fact, engineers represent nearly a third of our salaried employees overall. In manufacturing, most of our supervisors have degrees, and our hourly workforce is made up of talented employees from local communities, trained to operate with safety and precision to deliver high-quality results. Our employees serve on charitable boards wherever we operate and many more give their time in volunteer activities. In <strong>2014</strong>, we carried on our heritage of commitment to our local communities by establishing the <strong>TimkenSteel</strong> Charitable Fund. This fund matches our employees’ charitable donations and supports programs that make a significant impact in our communities, from the basic needs and education initiatives provided through United Way to building homes through Habitat for Humanity to a myriad of other economic development initiatives. One of our key priorities is in the area of education, where we award scholarships from $5,000 to $35,000 to children of our employees. Our ability to create, design, optimize and understand how steel will perform in our customers’ applications sets us apart from our competitors, and it helps us to deliver the kind of sustainable value that both customers and shareholders demand. Working together, we make a positive impact in our local communities. 20 14 TIMKENSTEEL ANNUAL REPORT 07 08
Page 2 and 3: TimkenSteel is built on values that
Page 4 and 5: Dear fellow shareholders, In this i
Page 6 and 7: OUR STRATEGY TO GENERATE CUSTOMER A
Page 10 and 11: Talk to any engineer at TimkenSteel
Page 12 and 13: innovation that creates opportunity
Page 14 and 15: We’re a leader in profitable nich
Page 16 and 17: leadership Ward J. “Tim” Timken
Page 18 and 19: oard of directors Ward J. “Tim”
Page 21 and 22: UNITED STATES SECURITIES AND EXCHAN
Page 23 and 24: PART I. ITEM 1. BUSINESS OVERVIEW T
Page 25 and 26: STRENGTHS AND STRATEGY We believe o
Page 27 and 28: us greater flexibility to substitut
Page 29 and 30: ITEM 1A. RISK FACTORS The following
Page 31 and 32: A decline in consumer and business
Page 33 and 34: We may be subject to risks relating
Page 35 and 36: We may issue preferred shares with
Page 37 and 38: With respect to taxes and other lia
Page 39 and 40: ITEM 2. PROPERTIES We are headquart
Page 41 and 42: PERFORMANCE GRAPH: The following gr
Page 43 and 44: ITEM 7. MANAGEMENT’S DISCUSSION A
Page 45 and 46: Key indicators for our market inclu
Page 47 and 48: Unallocated Years Ended December 31
Page 49 and 50: Unallocated Years Ended December 31
Page 51 and 52: Current liabilities increased to $2
Page 53 and 54: CONTRACTUAL OBLIGATIONS The followi
Page 55 and 56: jurisdiction when it is more likely
Page 57 and 58: ITEM 7A. QUANTITATIVE AND QUALITATI
Page 59 and 60:
REPORT OF INDEPENDENT REGISTERED PU
Page 61 and 62:
CONSOLIDATED STATEMENTS OF COMPREHE
Page 63 and 64:
CONSOLIDATED STATEMENTS OF CHANGES
Page 65 and 66:
NOTES TO CONSOLIDATED FINANCIAL STA
Page 67 and 68:
If an asset or asset group is consi
Page 69 and 70:
Pension and Other Postretirement Be
Page 71 and 72:
NOTE 4 - PROPERTY, PLANT AND EQUIPM
Page 73 and 74:
Revenue Refunding Bonds On June 1,
Page 75 and 76:
and accumulated other comprehensive
Page 77 and 78:
The components of net periodic bene
Page 79 and 80:
Defined Contribution Plan Prior to
Page 81 and 82:
The following summarizes TimkenStee
Page 83 and 84:
Net Sales: Years Ended December 31,
Page 85 and 86:
The provision for income taxes cons
Page 87 and 88:
As of December 31, 2014, Timken is
Page 89 and 90:
Employee Matters Agreement - Timken
Page 91 and 92:
ITEM 9. CHANGES IN AND DISAGREEMENT
Page 93 and 94:
ITEM 14. PRINCIPAL ACCOUNTING FEES
Page 95 and 96:
Exhibit Number Exhibit Description
Page 97 and 98:
SIGNATURES Pursuant to the requirem
Page 99 and 100:
EXHIBIT 31.2 CERTIFICATION I, Chris
Page 101 and 102:
CORPORATE OFFICES TimkenSteel Corpo
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TimkenSteel-2014-Annual-Report-FINAL-03112015_v001_d4t4ig

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