| Allegheny Technologies Incorporated and Subsidiaries | ||||||||||
| Condensed Consolidated Statements of Cash Flows | ||||||||||
| (Unaudited, dollars in millions) | ||||||||||
| Six Months Ended | ||||||||||
| June 30 | ||||||||||
| 2018 | 2017 | |||||||||
| Operating Activities: | ||||||||||
| Net income | $ | 136.1 | $ | 34.5 | ||||||
| Depreciation and amortization | 78.7 | 80.6 | ||||||||
| Deferred taxes | 0.1 | 7.6 | ||||||||
| Change in managed working capital | (127.8 | ) | (62.6 | ) | ||||||
| Change in retirement benefits (a) | 2.9 | (135.0 | ) | |||||||
| Accrued liabilities and other | (55.0 | ) | (10.6 | ) | ||||||
| Cash provided by (used in) operating activities | 35.0 | (85.5 | ) | |||||||
| Investing Activities: | ||||||||||
| Purchases of property, plant and equipment | (70.6 | ) | (55.3 | ) | ||||||
| Asset disposals and other | 0.8 | 3.3 | ||||||||
| Cash used in investing activities | (69.8 | ) | (52.0 | ) | ||||||
| Financing Activities: | ||||||||||
| Borrowings on long-term debt | 7.1 | 7.3 | ||||||||
| Payments on long-term debt and capital leases | (2.8 | ) | (0.8 | ) | ||||||
| Net borrowings under credit facilities | 3.4 | 59.4 | ||||||||
| Debt issuance costs | - | (0.8 | ) | |||||||
| Sale to noncontrolling interests | 14.4 | 2.2 | ||||||||
| Taxes on share-based compensation and other | (6.5 | ) | (4.8 | ) | ||||||
| Cash provided by financing activities | 15.6 | 62.5 | ||||||||
| Decrease in cash and cash equivalents | (19.2 | ) | (75.0 | ) | ||||||
| Cash and cash equivalents at beginning of period | 141.6 | 229.6 | ||||||||
| Cash and cash equivalents at end of period | $ | 122.4 | $ | 154.6 | ||||||
ATI Announces Second Quarter 2018 Results
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