TimkenSteel Corporation (TMST) Financial Statements (2024 and earlier)
Company Profile
| Business Address |
1835 DUEBER AVENUE SW CANTON, OH 44706-0928 |
| State of Incorp. | OH |
| Fiscal Year End | December 31 |
| Industry (SIC) | 3312 - Steel Works, Blast Furnaces (Including Coke Ovens), and Rolling Mills (benchmarking) |
| More info | Complete Financial Analysis Financial Benchmarking |
Balance Sheet (Statement of Financial Position) ($ in thousands)
| 12/31/2023 | 12/31/2022 | 12/31/2021 | 12/31/2020 | 12/31/2019 | 12/31/2018 | 12/31/2017 | |||
|---|---|---|---|---|---|---|---|---|---|
| ASSETS | |||||||||
| Current Assets | |||||||||
| Cash, cash equivalents, and short-term investments | 257,200 | 259,600 | 102,800 | 27,100 | 21,600 | 24,500 | |||
| Cash and cash equivalents | 257,200 | 259,600 | 102,800 | 27,100 | 21,600 | 24,500 | |||
| Restricted cash and investments | 600 | ||||||||
| Receivables | 81,600 | 100,500 | 63,300 | 77,500 | 163,400 | 149,800 | |||
| Inventory, net of allowances, customer advances and progress billings | 192,400 | 210,900 | 178,400 | 281,900 | 296,800 | 224,000 | |||
| Inventory | 192,400 | 210,900 | 178,400 | 281,900 | 296,800 | 224,000 | |||
| Asset, held-for-sale, not part of disposal group | 4,300 | 300 | 4,100 | ||||||
| Other current assets | 21,200 | 3,100 | 8,800 | 7,800 | 6,100 | 8,000 | |||
| Other undisclosed current assets | 3,600 | 3,900 | 4,000 | 3,300 | 3,500 | 3,900 | |||
| Total current assets: | 556,600 | 582,300 | 357,600 | 401,700 | 491,400 | 410,200 | |||
| Noncurrent Assets | |||||||||
| Operating lease, right-of-use asset | 12,500 | 14,500 | 21,000 | ✕ | ✕ | ||||
| Property, plant and equipment | 486,100 | 510,200 | 569,800 | 626,400 | |||||
| Intangible assets, net (including goodwill) | 5,000 | 6,700 | 9,300 | 14,300 | 17,800 | 19,900 | |||
| Intangible assets, net (excluding goodwill) | 5,000 | 6,700 | 9,300 | 14,300 | 17,800 | 19,900 | |||
| Other noncurrent assets | 2,400 | 2,100 | 2,800 | 3,300 | 3,500 | 5,200 | |||
| Other undisclosed noncurrent assets | 19,400 | 43,100 | 33,500 | 39,500 | 10,500 | 14,600 | |||
| Total noncurrent assets: | 525,400 | 576,600 | 636,400 | 683,500 | 31,800 | 39,700 | |||
| Other undisclosed assets | 674,400 | 706,700 | |||||||
| TOTAL ASSETS: | 1,082,000 | 1,158,900 | 994,000 | 1,085,200 | 1,197,600 | 1,156,600 | |||
| LIABILITIES AND EQUITY | |||||||||
| Liabilities | |||||||||
| Current Liabilities | |||||||||
| Accounts payable and accrued liabilities | 139,100 | 162,300 | 105,200 | 103,100 | 217,800 | 195,300 | |||
| Employee-related liabilities | ✕ | ✕ | 4,300 | 2,300 | 13,900 | 36,800 | 32,400 | ||
| Accounts payable | 113,200 | 141,900 | 89,500 | 69,300 | 160,600 | 135,300 | |||
| Accrued liabilities | 25,900 | 16,100 | 13,400 | 19,900 | 20,400 | 27,600 | |||
| Debt | 20,400 | 44,900 | 38,900 | ||||||
| Other undisclosed current liabilities | 27,200 | 43,600 | 36,900 | 9,200 | 3,000 | 11,500 | |||
| Total current liabilities: | 186,700 | 250,800 | 181,000 | 112,300 | 220,800 | 206,800 | |||
| Noncurrent Liabilities | |||||||||
| Long-term debt and lease obligation | 8,800 | 52,800 | 168,600 | 74,100 | 70,100 | ||||
| Long-term debt, excluding current maturities | 39,300 | 168,600 | 74,100 | 70,100 | |||||
| Liabilities, other than long-term debt | 208,800 | 234,700 | 252,700 | 232,100 | 251,700 | 223,500 | |||
| Deferred income tax liabilities | 25,900 | 2,200 | 1,000 | ✕ | ✕ | ||||
| Liability, pension and other postretirement and postemployment benefits | 162,900 | 223,000 | 240,700 | 222,100 | 240,000 | 210,800 | |||
| Other liabilities | 13,500 | 9,500 | 11,000 | 10,000 | 11,700 | 12,700 | |||
| Operating lease, liability | 6,500 | 8,800 | 13,500 | ✕ | ✕ | ||||
| Other undisclosed noncurrent liabilities | 9,100 | 115,800 | 95,500 | ||||||
| Total noncurrent liabilities: | 208,800 | 243,500 | 305,500 | 409,800 | 441,600 | 389,100 | |||
| Total liabilities: | 395,500 | 494,300 | 486,500 | 522,100 | 662,400 | 595,900 | |||
| Equity | |||||||||
| Equity, attributable to parent | 686,500 | 664,600 | 507,500 | 563,100 | 535,200 | 560,700 | |||
| Treasury stock, value | (52,100) | (12,900) | (24,900) | (33,000) | (37,400) | ||||
| Additional paid in capital | 847,000 | 832,100 | 843,400 | 844,800 | 846,300 | 843,700 | |||
| Accumulated other comprehensive income (loss) | 14,700 | 20,700 | 40,400 | 44,700 | (8,900) | (7,600) | |||
| Accumulated deficit | (123,100) | (188,200) | (363,400) | (301,500) | (269,200) | (238,000) | |||
| Total equity: | 686,500 | 664,600 | 507,500 | 563,100 | 535,200 | 560,700 | |||
| TOTAL LIABILITIES AND EQUITY: | 1,082,000 | 1,158,900 | 994,000 | 1,085,200 | 1,197,600 | 1,156,600 | |||
Income Statement (P&L) ($ in thousands)
| 12/31/2023 | 12/31/2022 | 12/31/2021 | 12/31/2020 | 12/31/2019 | 12/31/2018 | 12/31/2017 | ||
|---|---|---|---|---|---|---|---|---|
| Revenues | 1,329,900 | 1,282,900 | 830,700 | 1,208,800 | 1,610,600 | 1,329,200 | ||
| Revenue, net | ✕ | ✕ | ✕ | ✕ | ✕ | ✕ | 1,329,200 | |
| Cost of revenue (Cost of Goods and Services Sold) | (1,203,200) | (1,062,900) | (815,100) | (1,186,200) | (1,505,700) | (1,261,400) | ||
| Gross profit: | 126,700 | 220,000 | 15,600 | 22,600 | 104,900 | 67,800 | ||
| Operating expenses | (76,500) | (95,800) | (83,800) | (109,700) | (98,200) | (90,500) | ||
| Other undisclosed operating loss | (900) | (700) | ||||||
| Operating income (loss): | 50,200 | 124,200 | (68,200) | (87,100) | 5,800 | (23,400) | ||
| Nonoperating income (expense) | 93,900 | 59,500 | 14,200 | (23,300) | (18,600) | (4,100) | ||
| Investment income, nonoperating | 3,300 | |||||||
| Other nonoperating income (expense) | 90,600 | 59,500 | 14,200 | (23,300) | (18,600) | (4,100) | ||
| Interest and debt expense | (47,000) | (5,900) | (13,100) | (15,700) | (17,100) | (14,800) | ||
| Other undisclosed income from continuing operations before equity method investments, income taxes | 6,400 | |||||||
| Income (loss) from continuing operations before equity method investments, income taxes: | 97,100 | 177,800 | (60,700) | (126,100) | (29,900) | (42,300) | ||
| Other undisclosed loss from continuing operations before income taxes | (1,100) | |||||||
| Income (loss) from continuing operations before income taxes: | 97,100 | 176,700 | (60,700) | (126,100) | (29,900) | (42,300) | ||
| Income tax expense (benefit) | (32,000) | (5,700) | (1,200) | 16,100 | (1,800) | (1,500) | ||
| Income (loss) from continuing operations: | 65,100 | 171,000 | (61,900) | (110,000) | (31,700) | (43,800) | ||
| Income (loss) before gain (loss) on sale of properties: | ✕ | ✕ | 171,000 | (61,900) | (110,000) | (31,700) | (43,800) | |
| Net income (loss) available to common stockholders, basic: | 65,100 | 171,000 | (61,900) | (110,000) | (31,700) | (43,800) | ||
| Interest on convertible debt | 1,900 | 4,100 | ||||||
| Net income (loss) available to common stockholders, diluted: | 67,000 | 175,100 | (61,900) | (110,000) | (31,700) | (43,800) | ||
Comprehensive Income ($ in thousands)
| 12/31/2023 | 12/31/2022 | 12/31/2021 | 12/31/2020 | 12/31/2019 | 12/31/2018 | 12/31/2017 | ||
|---|---|---|---|---|---|---|---|---|
| Net income (loss): | 65,100 | 171,000 | (61,900) | (110,000) | (31,700) | (43,800) | ||
| Other comprehensive income (loss) | 53,600 | (1,300) | 1,800 | |||||
| Comprehensive income (loss): | 65,100 | 171,000 | (61,900) | (56,400) | (33,000) | (42,000) | ||
| Other undisclosed comprehensive loss, net of tax, attributable to parent | (6,000) | (19,700) | (4,300) | |||||
| Comprehensive income (loss), net of tax, attributable to parent: | 59,100 | 151,300 | (66,200) | (56,400) | (33,000) | (42,000) | ||
Statements Sources
The financial statements are based on the Company's filings with the U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.