Allegheny Technologies Incorporated and Subsidiaries | |||||||
Other Financial Information | |||||||
Debt to Capital | |||||||
(Unaudited, dollars in millions) | |||||||
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| June 30 |
| December 31 | ||||
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| 2021 |
| 2020 | ||||
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Total debt (a) | $ | 1,635.7 |
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| $ | 1,629.1 |
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Less: Cash | (472.5) |
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| (645.9) |
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Net debt | $ | 1,163.2 |
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| $ | 983.2 |
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Net debt | $ | 1,163.2 |
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| $ | 983.2 |
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Total ATI stockholders' equity (b) | 473.0 |
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| 471.3 |
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Net ATI capital | $ | 1,636.2 |
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| $ | 1,454.5 |
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Net debt to ATI capital | 71.1 | % |
| 67.6 | % | ||
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Total debt (a) | $ | 1,635.7 |
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| $ | 1,629.1 |
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Total ATI stockholders' equity (b) | 473.0 |
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| 471.3 |
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Total ATI capital | $ | 2,108.7 |
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| $ | 2,100.4 |
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Total debt to total ATI capital | 77.6 | % |
| 77.6 | % | ||
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(a) Excludes debt issuance costs for both periods. The December 31, 2020 debt balance presented in the table includes $46.8 million for the unamortized balance of the portion of the 2025 Convertible Notes recorded in stockholders' equity due to the flexible settlement feature of the notes. New accounting guidance adopted by the Company on January 1, 2021 eliminated this requirement of separately accounting for this component of the 2025 Convertible Notes in stockholders' equity. | |||||||
(b) The December 31, 2020 balance presented excludes $49.8 million recorded in stockholders' equity for a portion of the 2025 Convertible Notes, net of debt issuance costs. |
In managing the overall capital structure of the Company, some of the measures that we focus on are net debt to net capitalization, which is the percentage of debt, net of cash that may be available to reduce borrowings, to the total invested and borrowed capital of ATI (excluding noncontrolling interest), and total debt to total ATI capitalization, which excludes cash balances.
Allegheny Technologies Incorporated and Subsidiaries
Non-GAAP Financial Measures
(Unaudited, dollars in millions, except per share amounts)
