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

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SUPPLEMENTAL DATA SELECTED QUARTERLY FINANCIAL DATA (UNAUDITED) (dollars in millions, except per share data) Selected quarterly operating results for each quarter of fiscal 2014 and 2013 for TimkenSteel are as follows: Quarters Ended December 31 September 30 June 30 March 31 2014 Net Sales $ 408.3 $ 434.2 $ 442.2 $ 389.5 Gross Profit 56.4 71.2 72.7 73.5 Net Income (1) 16.4 25.7 28.6 33.7 Per Share Data: (2) Basic earnings per share $ 0.36 $ 0.56 $ 0.63 $ 0.74 Diluted earnings per share $ 0.36 $ 0.56 $ 0.62 $ 0.73 Quarters Ended December 31 September 30 June 30 March 31 2013 Net Sales $ 330.0 $ 350.5 $ 354.1 $ 346.3 Gross Profit 55.9 50.0 62.6 54.7 Net Income (1) 26.1 17.1 25.3 21.0 Per Share Data: (2) Basic earnings per share $ 0.57 $ 0.37 $ 0.55 $ 0.46 Diluted earnings per share $ 0.56 $ 0.37 $ 0.55 $ 0.45 (1) Net Income for the fourth quarter of 2014 and 2013 included impairment charges of $1.2 million and $0.6 million, respectively. The fourth quarter 2014 impairment charges related to the write-offs of a trade name as well as certain costs associated with a discontinued real estate project. In 2013, the impairment charges related to the disposal of certain machinery. (2) Basic and diluted earnings per share are computed independently for each of the periods presented. Accordingly, the sum of the quarterly earnings per share amounts may not equal the total for the year. For comparative purposes, and to provide a more meaningful calculation for weighted average shares, this amount was assumed to be outstanding as of the beginning of each period presented prior to the spinoff in the calculation of basic weighted average shares. See Note 9 – “Earnings Per Share” in the Notes to the Consolidated Financial Statements. 68
ITEM 9. CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS ON ACCOUNTING AND FINANCIAL DISCLOSURE None. ITEM 9A. CONTROLS AND PROCEDURES EVALUATION OF DISCLOSURE CONTROLS AND PROCEDURES As of the end of the period covered by this Annual Report on Form 10-K, our management carried out an evaluation, under the supervision and with the participation of the Company’s principal executive officer and principal financial officer, of the effectiveness of the design and operation of the Company’s disclosure controls and procedures as defined in Exchange Act Rule 13a-15(e). Based upon that evaluation, the principal executive officer and principal financial officer concluded that the Company’s disclosure controls and procedures were effective as of the end of the period covered by this Annual Report on Form 10-K. REPORT OF MANAGEMENT ON INTERNAL CONTROL OVER FINANCIAL REPORTING This Annual Report on Form 10-K does not include a report of management’s assessment regarding internal control over financial reporting or an attestation of the Company’s registered public accounting firm due to a transition period established by rules of the SEC for newly-public companies. CHANGES IN INTERNAL CONTROLS There have been no changes during the Company’s fourth quarter of 2014 in our internal control over financial reporting that have materially affected, or are reasonably likely to materially affect, our internal control over financial reporting. ITEM 9B. OTHER INFORMATION None. 20 14 TIMKENSTEEL ANNUAL REPORT 69
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TimkenSteel is built on values that
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Dear fellow shareholders, In this i
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OUR STRATEGY TO GENERATE CUSTOMER A
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people who thrive on challenges
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Talk to any engineer at TimkenSteel
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innovation that creates opportunity
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We’re a leader in profitable nich
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leadership Ward J. “Tim” Timken
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oard of directors Ward J. “Tim”
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UNITED STATES SECURITIES AND EXCHAN
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PART I. ITEM 1. BUSINESS OVERVIEW T
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STRENGTHS AND STRATEGY We believe o
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us greater flexibility to substitut
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ITEM 1A. RISK FACTORS The following
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A decline in consumer and business
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We may be subject to risks relating
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We may issue preferred shares with
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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: Employee Matters Agreement - Timken
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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