$TKR
TIMKEN CO

2021 Q2 Form 10-Q Financial Statement

#000009836221000133 Filed on August 02, 2021

View on sec.gov

Income Statement

Concept 2021 Q2 2021 Q1 2020 Q2
Revenue $1.063B $1.025B $803.5M
YoY Change 32.28% 11.05% -19.65%
Cost Of Revenue $760.6M $726.2M $573.2M
YoY Change 32.69% 12.68% -17.44%
Gross Profit $302.3M $299.2M $230.3M
YoY Change 31.26% 7.28% -24.66%
Gross Profit Margin 28.44% 29.18% 28.66%
Selling, General & Admin $149.0M $144.5M $111.8M
YoY Change 33.27% -5.92% -29.55%
% of Gross Profit 49.29% 48.3% 48.55%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $42.20M $43.00M $41.70M
YoY Change 1.2% 1.65% 0.0%
% of Gross Profit 13.96% 14.37% 18.11%
Operating Expenses $149.0M $144.5M $111.8M
YoY Change 33.27% -5.92% -29.55%
Operating Profit $152.0M $150.7M $115.4M
YoY Change 31.72% 23.83% -20.47%
Interest Expense $15.30M $14.90M $18.90M
YoY Change -19.05% -12.87% -2.07%
% of Operating Profit 10.07% 9.89% 16.38%
Other Income/Expense, Net -$2.200M $1.000M -$2.000M
YoY Change 10.0% -75.61% -242.86%
Pretax Income $136.6M $141.3M $89.80M
YoY Change 52.12% 24.38% -44.6%
Income Tax $29.40M $25.30M $28.00M
% Of Pretax Income 21.52% 17.91% 31.18%
Net Earnings $104.8M $113.3M $61.90M
YoY Change 69.31% 40.4% -33.08%
Net Earnings / Revenue 9.86% 11.05% 7.7%
Basic Earnings Per Share $1.38 $1.49 $0.82
Diluted Earnings Per Share $1.36 $1.47 $0.82
COMMON SHARES
Basic Shares Outstanding 76.12M shares 75.82M shares 75.08M shares
Diluted Shares Outstanding 77.25M shares 77.26M shares 75.70M shares

Balance Sheet

Concept 2021 Q2 2021 Q1 2020 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $305.5M $302.3M $415.6M
YoY Change -26.49% -21.99% 149.16%
Cash & Equivalents $305.5M $302.3M $415.6M
Short-Term Investments
Other Short-Term Assets $130.2M $109.8M $105.6M
YoY Change 23.3% -14.02% 27.23%
Inventory $919.5M $864.8M $784.0M
Prepaid Expenses
Receivables $704.4M $712.3M $541.6M
Other Receivables $100.4M $113.3M $126.2M
Total Short-Term Assets $2.195B $2.144B $2.007B
YoY Change 9.37% 2.46% 7.51%
LONG-TERM ASSETS
Property, Plant & Equipment $1.025B $1.021B $962.1M
YoY Change 6.55% 6.14% 5.49%
Goodwill $1.035B $1.028B $996.5M
YoY Change 3.84% 4.1% 2.8%
Intangibles $704.2M $712.6M $731.4M
YoY Change -3.72% -3.09% -0.01%
Long-Term Investments
YoY Change
Other Assets $17.70M $18.00M $16.20M
YoY Change 9.26% 14.65% -4.71%
Total Long-Term Assets $2.971B $2.963B $1.932B
YoY Change 53.79% 53.81% 8.65%
TOTAL ASSETS
Total Short-Term Assets $2.195B $2.144B $2.007B
Total Long-Term Assets $2.971B $2.963B $1.932B
Total Assets $5.166B $5.106B $4.901B
YoY Change 5.41% 2.53% 4.85%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $385.1M $362.6M $267.3M
YoY Change 44.07% 22.5% -8.33%
Accrued Expenses $158.9M $146.4M $133.5M
YoY Change 19.03% 25.24% -18.5%
Deferred Revenue
YoY Change
Short-Term Debt $76.00M $167.5M $42.90M
YoY Change 77.16% 53.67% 15.01%
Long-Term Debt Due $11.10M $10.80M $18.40M
YoY Change -39.67% -83.15% 104.44%
Total Short-Term Liabilities $857.3M $916.8M $664.8M
YoY Change 28.96% 19.1% -4.52%
LONG-TERM LIABILITIES
Long-Term Debt $1.424B $1.424B $1.730B
YoY Change -17.68% -20.28% 5.33%
Other Long-Term Liabilities $97.80M $96.90M $92.00M
YoY Change 6.3% 13.6% 17.8%
Total Long-Term Liabilities $1.942B $1.939B $2.269B
YoY Change -14.41% -16.04% 3.39%
TOTAL LIABILITIES
Total Short-Term Liabilities $857.3M $916.8M $664.8M
Total Long-Term Liabilities $1.942B $1.939B $2.269B
Total Liabilities $2.799B $2.856B $2.933B
YoY Change -4.59% -7.26% 1.48%
SHAREHOLDERS EQUITY
Retained Earnings $1.511B $1.429B $2.006B
YoY Change -24.67% -27.27% 13.19%
Common Stock $778.6M $761.3M $924.4M
YoY Change -15.77% -17.26% -1.8%
Preferred Stock
YoY Change
Treasury Stock (at cost) $59.10M $53.40M $1.000B
YoY Change -94.09% -94.67% 4.47%
Treasury Stock Shares 811.0K shares 746.4K shares 23.28M shares
Shareholders Equity $2.291B $2.176B $1.884B
YoY Change
Total Liabilities & Shareholders Equity $5.166B $5.106B $4.901B
YoY Change 5.41% 2.53% 4.85%

Cashflow Statement

Concept 2021 Q2 2021 Q1 2020 Q2
OPERATING ACTIVITIES
Net Income $104.8M $113.3M $61.90M
YoY Change 69.31% 40.4% -33.08%
Depreciation, Depletion And Amortization $42.20M $43.00M $41.70M
YoY Change 1.2% 1.65% 0.0%
Cash From Operating Activities $147.1M $31.70M $247.4M
YoY Change -40.54% -43.59% 56.98%
INVESTING ACTIVITIES
Capital Expenditures -$31.10M -$29.40M -$24.70M
YoY Change 25.91% -7.55% 7.39%
Acquisitions
YoY Change
Other Investing Activities -$3.400M $100.0K -$8.400M
YoY Change -59.52% -89.12%
Cash From Investing Activities -$34.50M -$39.40M -$33.10M
YoY Change 4.23% 24.68% -66.97%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $26.30M
YoY Change -37.83%
Debt Paid & Issued, Net $73.40M
YoY Change 93.67%
Cash From Financing Activities -112.5M -$6.400M -197.8M
YoY Change -43.12% -103.84% 51.8%
NET CHANGE
Cash From Operating Activities 147.1M $31.70M 247.4M
Cash From Investing Activities -34.50M -$39.40M -33.10M
Cash From Financing Activities -112.5M -$6.400M -197.8M
Net Change In Cash 100.0K -$18.00M 16.50M
YoY Change -99.39% -110.12% -122.63%
FREE CASH FLOW
Cash From Operating Activities $147.1M $31.70M $247.4M
Capital Expenditures -$31.10M -$29.40M -$24.70M
Free Cash Flow $178.2M $61.10M $272.1M
YoY Change -34.51% -30.57% 50.66%

Facts In Submission

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TIMKEN CO
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us-gaap Payments To Acquire Productive Assets
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us-gaap Payments To Acquire Productive Assets
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us-gaap Payments For Repurchase Of Common Stock
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us-gaap Net Cash Provided By Used In Financing Activities
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us-gaap Revenue From Contract With Customer Excluding Assessed Tax
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tkr Earnings Before Interest Tax Depreciationand Amortization
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CY2020Q2 us-gaap Business Combination Bargain Purchase Gain Recognized Amount
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us-gaap Business Combination Bargain Purchase Gain Recognized Amount
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us-gaap Depreciation Depletion And Amortization
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us-gaap Net Income Loss
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us-gaap Net Income Loss
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CY2020Q2 tkr Less Undistributed Earnings Loss Allocated To Nonvested Stock
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tkr Less Undistributed Earnings Loss Allocated To Nonvested Stock
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tkr Less Undistributed Earnings Loss Allocated To Nonvested Stock
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104800000 USD
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218100000 USD
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CY2020Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
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GainLossOnForeignCurrencyDerivativeInstrumentsNotDesignatedAsHedgingInstruments
-700000 USD
us-gaap Gain Loss On Foreign Currency Derivative Instruments Not Designated As Hedging Instruments
GainLossOnForeignCurrencyDerivativeInstrumentsNotDesignatedAsHedgingInstruments
1800000 USD

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