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Share Name | Share Symbol | Market | Type |
---|---|---|---|
ATI Inc | NYSE:ATI | NYSE | Common Stock |
Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|
-0.45 | -0.74% | 60.73 | 61.9747 | 60.62 | 61.46 | 950,266 | 01:00:00 |
(State or other jurisdiction of incorporation) | (Commission File Number) | (IRS Employer Identification No.) |
(Address of principal executive offices) | (Zip Code) |
Written communication pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
Pre-commencement communication pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
Pre-commencement communication pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Title of each class | Trading Symbol(s) | Name of each exchange on which registered | ||||||||||||
Guidance | Q3 2023 Earnings Presentation | Impact of Accounting Policy Change | Q3 2023 Earnings Presentation (Adjusted for Accounting Policy Change) | ||||||||||||||
Q4 2023 Adjusted Earnings Per Share | $0.57 - $0.67 | nil | $0.57 - $0.67 | ||||||||||||||
Full Year 2023 Adjusted Earnings Per Share | $2.20 - $2.30 | $0.29 | $2.49 - $2.59 |
(d) | Exhibit 99.1 | |||||||
Exhibit 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document). |
ATI Inc. | ||||||||||||||
By: | /s/ Donald P. Newman | |||||||||||||
Donald P. Newman | ||||||||||||||
Executive Vice President, Finance and Chief Financial Officer | ||||||||||||||
Dated: | January 19, 2024 |
December 31 | December 31 | March 31 | June 30 | September 30 | |||||||||||||||||||||||||
2021 | 2022 | 2023 | 2023 | 2023 | |||||||||||||||||||||||||
ASSETS | |||||||||||||||||||||||||||||
Current Assets: | |||||||||||||||||||||||||||||
Cash and cash equivalents | $ | 687.7 | $ | 584.0 | $ | 196.2 | $ | 267.1 | $ | 432.9 | |||||||||||||||||||
Accounts receivable, net of allowances for doubtful accounts | 470.0 | 579.2 | 725.6 | 710.1 | 683.0 | ||||||||||||||||||||||||
Short-term contract assets | 53.9 | 64.1 | 52.7 | 51.8 | 56.6 | ||||||||||||||||||||||||
Inventories, net | 1,046.3 | 1,195.7 | 1,293.8 | 1,380.4 | 1,353.9 | ||||||||||||||||||||||||
Prepaid expenses and other current assets | 48.8 | 53.4 | 48.0 | 49.2 | 73.3 | ||||||||||||||||||||||||
Total Current Assets | 2,306.7 | 2,476.4 | 2,316.3 | 2,458.6 | 2,599.7 | ||||||||||||||||||||||||
Property, plant and equipment, net | 1,528.5 | 1,549.1 | 1,551.8 | 1,568.1 | 1,626.3 | ||||||||||||||||||||||||
Goodwill | 227.9 | 227.2 | 227.2 | 227.2 | 227.2 | ||||||||||||||||||||||||
Other assets | 222.1 | 192.9 | 192.0 | 180.8 | 277.9 | ||||||||||||||||||||||||
Total Assets | $ | 4,285.2 | $ | 4,445.6 | $ | 4,287.3 | $ | 4,434.7 | $ | 4,731.1 | |||||||||||||||||||
LIABILITIES AND EQUITY | |||||||||||||||||||||||||||||
Current Liabilities: | |||||||||||||||||||||||||||||
Accounts payable | $ | 375.5 | $ | 553.3 | $ | 447.5 | $ | 467.7 | $ | 435.0 | |||||||||||||||||||
Short-term contract liabilities | 116.2 | 149.1 | 149.7 | 137.8 | 110.2 | ||||||||||||||||||||||||
Short-term debt and current portion of long-term debt | 131.3 | 41.7 | 24.9 | 73.9 | 37.5 | ||||||||||||||||||||||||
Other current liabilities | 233.4 | 219.8 | 201.9 | 218.1 | 246.6 | ||||||||||||||||||||||||
Total Current Liabilities | 856.4 | 963.9 | 824.0 | 897.5 | 829.3 | ||||||||||||||||||||||||
Long-term debt | 1,711.6 | 1,706.3 | 1,702.1 | 1,699.9 | 2,147.7 | ||||||||||||||||||||||||
Accrued postretirement benefits | 258.1 | 184.9 | 180.0 | 176.7 | 173.2 | ||||||||||||||||||||||||
Pension liabilities | 415.4 | 225.6 | 173.8 | 172.0 | 39.7 | ||||||||||||||||||||||||
Other long-term liabilities | 211.0 | 207.7 | 193.1 | 179.4 | 185.3 | ||||||||||||||||||||||||
Total Liabilities | 3,452.5 | 3,288.4 | 3,073.0 | 3,125.5 | 3,375.2 | ||||||||||||||||||||||||
Equity: | |||||||||||||||||||||||||||||
ATI Stockholders’ Equity: | |||||||||||||||||||||||||||||
Preferred stock | — | — | — | — | — | ||||||||||||||||||||||||
Common stock | 12.7 | 13.1 | 13.2 | 13.2 | 13.2 | ||||||||||||||||||||||||
Additional paid-in capital | 1,596.7 | 1,668.1 | 1,675.1 | 1,682.0 | 1,689.5 | ||||||||||||||||||||||||
Retained loss | (777.7) | (480.9) | (396.4) | (306.0) | (215.8) | ||||||||||||||||||||||||
Treasury stock | (4.8) | (87.0) | (107.8) | (107.9) | (153.6) | ||||||||||||||||||||||||
Accumulated other comprehensive loss, net of tax | (141.3) | (67.4) | (87.6) | (87.3) | (94.4) | ||||||||||||||||||||||||
Total ATI stockholders’ equity | 685.6 | 1,045.9 | 1,096.5 | 1,194.0 | 1,238.9 | ||||||||||||||||||||||||
Noncontrolling interests | 147.1 | 111.3 | 117.8 | 115.2 | 117.0 | ||||||||||||||||||||||||
Total Equity | 832.7 | 1,157.2 | 1,214.3 | 1,309.2 | 1,355.9 | ||||||||||||||||||||||||
Total Liabilities and Equity | $ | 4,285.2 | $ | 4,445.6 | $ | 4,287.3 | $ | 4,434.7 | $ | 4,731.1 |
Fiscal Year Ended | Three Months Ended | Fiscal Year Ended | ||||||||||||||||||
December 31 | December 31 | December 31 | ||||||||||||||||||
2021 | 2022 | 2022 | ||||||||||||||||||
Sales | $ | 2,799.8 | $ | 1,010.4 | $ | 3,836.0 | ||||||||||||||
Cost of sales | 2,466.6 | 824.7 | 3,121.8 | |||||||||||||||||
Gross profit | 333.2 | 185.7 | 714.2 | |||||||||||||||||
Selling and administrative expenses | 226.9 | 76.8 | 297.5 | |||||||||||||||||
Restructuring charges (credits) | (11.3) | 0.2 | (4.8) | |||||||||||||||||
Loss on asset sales and sales of businesses, net | — | — | 105.4 | |||||||||||||||||
Operating income | 117.6 | 108.7 | 316.1 | |||||||||||||||||
Nonoperating retirement benefit income | 260.0 | 109.6 | 138.4 | |||||||||||||||||
Interest expense, net | (96.9) | (19.6) | (87.4) | |||||||||||||||||
Debt extinguishment charge | (65.5) | — | — | |||||||||||||||||
Other income (expense), net | 18.2 | 2.8 | (12.5) | |||||||||||||||||
Income before income taxes | 233.4 | 201.5 | 354.6 | |||||||||||||||||
Income tax provision | 26.8 | 4.2 | 15.5 | |||||||||||||||||
Net income | $ | 206.6 | $ | 197.3 | $ | 339.1 | ||||||||||||||
Less: Net income attributable to noncontrolling interests | 22.0 | 4.3 | 15.6 | |||||||||||||||||
Net income attributable to ATI | $ | 184.6 | $ | 193.0 | $ | 323.5 | ||||||||||||||
Basic net income attributable to ATI per common share | $ | 1.45 | $ | 1.49 | $ | 2.54 | ||||||||||||||
Diluted net income attributable to ATI per common share | $ | 1.32 | $ | 1.30 | $ | 2.23 | ||||||||||||||
Three Months Ended | Three Months Ended | Six Months Ended | Three Months Ended | Nine Months Ended | |||||||||||||||||||||||||
March 31 | June 30 | June 30 | September 30 | September 30 | |||||||||||||||||||||||||
2023 | 2023 | 2023 | 2023 | 2023 | |||||||||||||||||||||||||
Sales | $ | 1,038.1 | $ | 1,046.0 | $ | 2,084.1 | $ | 1,025.6 | $ | 3,109.7 | |||||||||||||||||||
Cost of sales | 844.9 | 836.9 | 1,681.8 | 831.0 | 2,512.8 | ||||||||||||||||||||||||
Gross profit | 193.2 | 209.1 | 402.3 | 194.6 | 596.9 | ||||||||||||||||||||||||
Selling and administrative expenses | 80.6 | 85.4 | 166.0 | 69.8 | 235.8 | ||||||||||||||||||||||||
Restructuring charges (credits) | — | 2.7 | 2.7 | (0.5) | 2.2 | ||||||||||||||||||||||||
Loss on asset sales and sales of businesses, net | — | 0.7 | 0.7 | 0.1 | 0.8 | ||||||||||||||||||||||||
Operating income | 112.6 | 120.3 | 232.9 | 125.2 | 358.1 | ||||||||||||||||||||||||
Nonoperating retirement benefit expense | (2.4) | (2.5) | (4.9) | (2.4) | (7.3) | ||||||||||||||||||||||||
Interest expense, net | (19.9) | (21.3) | (41.2) | (23.8) | (65.0) | ||||||||||||||||||||||||
Other income, net | 0.6 | 0.7 | 1.3 | — | 1.3 | ||||||||||||||||||||||||
Income before income taxes | 90.9 | 97.2 | 188.1 | 99.0 | 287.1 | ||||||||||||||||||||||||
Income tax provision | 4.3 | 3.7 | 8.0 | 4.9 | 12.9 | ||||||||||||||||||||||||
Net income | $ | 86.6 | $ | 93.5 | $ | 180.1 | $ | 94.1 | $ | 274.2 | |||||||||||||||||||
Less: Net income attributable to noncontrolling interests | 2.1 | 3.1 | 5.2 | 3.9 | 9.1 | ||||||||||||||||||||||||
Net income attributable to ATI | $ | 84.5 | $ | 90.4 | $ | 174.9 | $ | 90.2 | $ | 265.1 | |||||||||||||||||||
Basic net income attributable to ATI per common share | $ | 0.66 | $ | 0.70 | $ | 1.36 | $ | 0.70 | $ | 2.06 | |||||||||||||||||||
Diluted net income attributable to ATI per common share | $ | 0.58 | $ | 0.62 | $ | 1.20 | $ | 0.62 | $ | 1.82 | |||||||||||||||||||
Fiscal Year Ended | Fiscal Year Ended | ||||||||||
December 31 | December 31 | ||||||||||
2021 | 2022 | ||||||||||
Net income | $ | 206.6 | $ | 339.1 | |||||||
Currency translation adjustment | |||||||||||
Unrealized net change arising during the period | (4.6) | (43.5) | |||||||||
Reclassification adjustment included in net income | — | 20.0 | |||||||||
Total | (4.6) | -4600000 | (23.5) | ||||||||
Derivatives | |||||||||||
Net derivatives gain on hedge transactions | 15.5 | 53.8 | |||||||||
Reclassification to net income of net realized gain | (11.4) | (42.8) | |||||||||
Income taxes on derivative transactions | — | — | |||||||||
Total | 4.1 | 4100000 | 11.0 | ||||||||
Postretirement benefit plans | |||||||||||
Actuarial loss | |||||||||||
Amortization of net actuarial loss | 13.9 | 13.2 | |||||||||
Net gain arising during the period | 8.7 | 54.7 | |||||||||
Prior service cost | |||||||||||
Amortization to net income of net prior service credits | (1.8) | (0.5) | |||||||||
Settlement loss (gain) included in net income | (21.9) | 0.7 | |||||||||
Income taxes on postretirement benefit plans | (15.5) | — | |||||||||
Total | 14.4 | 68.1 | |||||||||
Other comprehensive income, net of tax | 13.9 | 55.6 | |||||||||
Comprehensive income | 220.5 | 394.7 | |||||||||
Less: Comprehensive income (loss) attributable to noncontrolling interests | 26.8 | (2.7) | |||||||||
Comprehensive income attributable to ATI | $ | 193.7 | $ | 397.4 | |||||||
Three Months Ended | Three Months Ended | Six Months Ended | Three Months Ended | Nine Months Ended | |||||||||||||||||||||||||
March 31 | June 30 | June 30 | September 30 | September 30 | |||||||||||||||||||||||||
2023 | 2023 | 2023 | 2023 | 2023 | |||||||||||||||||||||||||
Net income | $ | 86.6 | $ | 93.5 | $ | 180.1 | $ | 94.1 | $ | 274.2 | |||||||||||||||||||
Currency translation adjustment | |||||||||||||||||||||||||||||
Unrealized net change arising during the period | 3.3 | (8.1) | (4.8) | (9.2) | (14.0) | ||||||||||||||||||||||||
Total | 3.3 | (8.1) | (4.8) | (9.2) | (14.0) | ||||||||||||||||||||||||
Derivatives | |||||||||||||||||||||||||||||
Net derivatives loss on hedge transactions | (15.0) | (2.4) | (17.4) | (3.2) | (20.6) | ||||||||||||||||||||||||
Reclassification to net income of net realized loss (gain) | (5.5) | 3.8 | (1.7) | 1.8 | 0.1 | ||||||||||||||||||||||||
Income taxes on derivative transactions | — | — | — | — | — | ||||||||||||||||||||||||
Total | (20.5) | 1.4 | (19.1) | (1.4) | (20.5) | ||||||||||||||||||||||||
Postretirement benefit plans | |||||||||||||||||||||||||||||
Actuarial loss | |||||||||||||||||||||||||||||
Amortization of net actuarial loss | 1.5 | 1.5 | 3.0 | 1.5 | 4.5 | ||||||||||||||||||||||||
Prior service cost | |||||||||||||||||||||||||||||
Amortization to net income of net prior service credits | (0.1) | (0.2) | (0.3) | (0.1) | (0.4) | ||||||||||||||||||||||||
Income taxes on postretirement benefit plans | — | — | — | — | — | ||||||||||||||||||||||||
Total | 1.4 | 1400000 | 1.3 | 2.7 | 1.4 | 4.1 | |||||||||||||||||||||||
Other comprehensive loss, net of tax | (15.8) | (5.4) | (21.2) | (9.2) | (30.4) | ||||||||||||||||||||||||
Comprehensive income | 70.8 | 88.1 | 158.9 | 84.9 | 243.8 | ||||||||||||||||||||||||
Less: Comprehensive income (loss) attributable to noncontrolling interests | 6.5 | (2.6) | 3.9 | 1.8 | 5.7 | ||||||||||||||||||||||||
Comprehensive income attributable to ATI | $ | 64.3 | $ | 90.7 | $ | 155.0 | $ | 83.1 | $ | 238.1 | |||||||||||||||||||
Fiscal Year Ended | Fiscal Year Ended | Three Months Ended | Six Months Ended | Nine Months Ended | ||||||||||||||||||||||||||||
December 31 | December 31 | March 31 | June 30 | September 30 | ||||||||||||||||||||||||||||
2021 | 2022 | 2023 | 2023 | 2023 | ||||||||||||||||||||||||||||
Operating Activities: | ||||||||||||||||||||||||||||||||
Net income | $ | 206.6 | $ | 339.1 | $ | 86.6 | $ | 180.1 | $ | 274.2 | ||||||||||||||||||||||
Depreciation and amortization | 143.9 | 142.9 | 35.1 | 71.0 | 106.6 | |||||||||||||||||||||||||||
Share-based compensation | 21.1 | 26.0 | 7.1 | 14.1 | 21.5 | |||||||||||||||||||||||||||
Deferred taxes | 1.0 | (0.1) | 0.9 | 0.6 | 2.2 | |||||||||||||||||||||||||||
Net gain from disposal of property, plant and equipment | (2.9) | (0.9) | (0.3) | (0.3) | (0.1) | |||||||||||||||||||||||||||
Loss (gain) on sales of businesses | (13.8) | 112.2 | — | 0.6 | 0.6 | |||||||||||||||||||||||||||
Debt extinguishment charge | 65.5 | — | — | — | — | |||||||||||||||||||||||||||
Changes in operating assets and liabilities: | ||||||||||||||||||||||||||||||||
Inventories | (53.9) | (190.8) | (98.1) | (184.7) | (158.2) | |||||||||||||||||||||||||||
Accounts receivable | (126.0) | (128.5) | (146.4) | (131.2) | (104.0) | |||||||||||||||||||||||||||
Accounts payable | 88.5 | 156.1 | (77.8) | (66.3) | (108.2) | |||||||||||||||||||||||||||
Retirement benefits | (333.5) | (210.5) | (55.0) | (58.5) | (284.3) | |||||||||||||||||||||||||||
Accrued liabilities and other | 19.6 | (20.6) | (37.3) | (42.5) | (81.6) | |||||||||||||||||||||||||||
Cash provided by (used in) operating activities | 16.1 | 224.9 | (285.2) | (217.1) | (331.3) | |||||||||||||||||||||||||||
Investing Activities: | ||||||||||||||||||||||||||||||||
Purchases of property, plant and equipment | (152.6) | (130.9) | (60.4) | (103.3) | (147.3) | |||||||||||||||||||||||||||
Proceeds from disposal of property, plant and equipment | 20.8 | 3.1 | 0.9 | 1.6 | 3.3 | |||||||||||||||||||||||||||
Proceeds from sales of business, net of transaction costs | 53.1 | 0.3 | — | (0.3) | (0.3) | |||||||||||||||||||||||||||
Other | 1.4 | 0.8 | 0.2 | 1.2 | 1.1 | |||||||||||||||||||||||||||
Cash used in investing activities | (77.3) | (126.7) | (59.3) | (100.8) | (143.2) | |||||||||||||||||||||||||||
Financing Activities: | ||||||||||||||||||||||||||||||||
Borrowings on long-term debt | 675.7 | — | — | — | 425.0 | |||||||||||||||||||||||||||
Payments on long-term debt and finance leases | (515.6) | (23.1) | (5.7) | (11.3) | (22.0) | |||||||||||||||||||||||||||
Net proceeds (payments) under credit facilities | 21.7 | (5.6) | (16.8) | 33.2 | (7.3) | |||||||||||||||||||||||||||
Debt issuance costs | (9.5) | — | — | — | (6.1) | |||||||||||||||||||||||||||
Debt extinguishment charge | (64.5) | — | — | — | — | |||||||||||||||||||||||||||
Purchase of treasury stock | — | (139.9) | (10.1) | (10.1) | (55.1) | |||||||||||||||||||||||||||
Sale to noncontrolling interests | — | 6.4 | — | — | — | |||||||||||||||||||||||||||
Dividends paid to noncontrolling interests | — | (34.0) | — | — | — | |||||||||||||||||||||||||||
Taxes on share-based compensation and other | (4.8) | (5.7) | (10.7) | (10.8) | (11.1) | |||||||||||||||||||||||||||
Cash provided by (used in) financing activities | 103.0 | (201.9) | (43.3) | 1.0 | 323.4 | |||||||||||||||||||||||||||
Increase (decrease) in cash and cash equivalents | 41.8 | (103.7) | (387.8) | (316.9) | (151.1) | |||||||||||||||||||||||||||
Cash and cash equivalents at beginning of period | 645.9 | 687.7 | 584.0 | 584.0 | 584.0 | |||||||||||||||||||||||||||
Cash and cash equivalents at end of period | $ | 687.7 | $ | 584.0 | $ | 196.2 | $ | 267.1 | $ | 432.9 |
ATI Stockholders | |||||||||||||||||||||||||||||||||||||||||
Common Stock | Additional Paid-In Capital | Retained Earnings (Loss) | Treasury Stock | Accumulated Other Comprehensive Income (Loss) | Non- controlling Interests | Total Equity | |||||||||||||||||||||||||||||||||||
Balance, December 31, 2020 | $ | 12.7 | $ | 1,625.5 | $ | 106.5 | $ | — | $ | (1,223.6) | $ | 120.3 | $ | 641.4 | |||||||||||||||||||||||||||
Net income | — | — | 184.6 | — | — | 22.0 | 206.6 | ||||||||||||||||||||||||||||||||||
Other comprehensive income | — | — | — | — | 9.1 | 4.8 | 13.9 | ||||||||||||||||||||||||||||||||||
Cumulative effect of adoption of new accounting standard | — | (49.8) | 4.4 | — | — | — | (45.4) | ||||||||||||||||||||||||||||||||||
Cumulative effect of change in accounting principle | — | — | (1,073.2) | — | 1,073.2 | — | — | ||||||||||||||||||||||||||||||||||
Employee stock plans | — | 21.0 | — | (4.8) | — | — | 16.2 | ||||||||||||||||||||||||||||||||||
Balance, December 31, 2021 | $ | 12.7 | $ | 1,596.7 | $ | (777.7) | $ | (4.8) | $ | (141.3) | $ | 147.1 | $ | 832.7 | |||||||||||||||||||||||||||
Net income | — | — | 323.5 | — | — | 15.6 | 339.1 | ||||||||||||||||||||||||||||||||||
Other comprehensive income (loss) | — | — | — | — | 73.9 | (18.3) | 55.6 | ||||||||||||||||||||||||||||||||||
Purchase of treasury stock | — | — | — | (139.9) | — | — | (139.9) | ||||||||||||||||||||||||||||||||||
Conversion of convertible notes | 0.3 | 45.4 | (26.7) | 63.5 | — | — | 82.5 | ||||||||||||||||||||||||||||||||||
Dividends paid to noncontrolling interest | — | — | — | — | — | (34.0) | (34.0) | ||||||||||||||||||||||||||||||||||
Sale of subsidiary shares to noncontrolling interest | — | — | — | — | — | 0.9 | 0.9 | ||||||||||||||||||||||||||||||||||
Employee stock plans | 0.1 | 26.0 | — | (5.8) | — | — | 20.3 | ||||||||||||||||||||||||||||||||||
Balance, December 31, 2022 | $ | 13.1 | $ | 1,668.1 | $ | (480.9) | $ | (87.0) | $ | (67.4) | $ | 111.3 | $ | 1,157.2 | |||||||||||||||||||||||||||
Net income | — | — | 84.5 | — | — | 2.1 | 86.6 | ||||||||||||||||||||||||||||||||||
Other comprehensive income (loss) | — | — | — | — | (20.2) | 4.4 | (15.8) | ||||||||||||||||||||||||||||||||||
Purchase of treasury stock | — | — | — | (10.1) | — | — | (10.1) | ||||||||||||||||||||||||||||||||||
Employee stock plans | 0.1 | 7.0 | — | (10.7) | — | — | (3.6) | ||||||||||||||||||||||||||||||||||
Balance, March 31, 2023 | $ | 13.2 | $ | 1,675.1 | $ | (396.4) | $ | (107.8) | $ | (87.6) | $ | 117.8 | $ | 1,214.3 | |||||||||||||||||||||||||||
Net income | — | — | 90.4 | — | — | 3.1 | 93.5 | ||||||||||||||||||||||||||||||||||
Other comprehensive income (loss) | — | — | — | — | 0.3 | (5.7) | (5.4) | ||||||||||||||||||||||||||||||||||
Employee stock plans | — | 6.9 | — | (0.1) | — | — | 6.8 | ||||||||||||||||||||||||||||||||||
Balance, June 30, 2023 | $ | 13.2 | $ | 1,682.0 | $ | (306.0) | $ | (107.9) | $ | (87.3) | $ | 115.2 | $ | 1,309.2 | |||||||||||||||||||||||||||
Net income | — | — | 90.2 | — | — | 3.9 | 94.1 | ||||||||||||||||||||||||||||||||||
Other comprehensive loss | — | — | — | — | (7.1) | (2.1) | (9.2) | ||||||||||||||||||||||||||||||||||
Purchase of treasury stock | — | — | — | (45.4) | — | — | (45.4) | ||||||||||||||||||||||||||||||||||
Employee stock plans | — | 7.5 | — | (0.3) | — | — | 7.2 | ||||||||||||||||||||||||||||||||||
Balance, September 30, 2023 | $ | 13.2 | $ | 1,689.5 | $ | (215.8) | $ | (153.6) | $ | (94.4) | $ | 117.0 | $ | 1,355.9 |
ATI Stockholders | |||||||||||||||||||||||||||||||||||||||||
Common Stock | Additional Paid-In Capital | Retained Earnings (Loss) | Treasury Stock | Accumulated Other Comprehensive Income (Loss) | Non- controlling Interests | Total Equity | |||||||||||||||||||||||||||||||||||
Balance, December 31, 2022 | $ | 13.1 | $ | 1,668.1 | $ | (480.9) | $ | (87.0) | $ | (67.4) | $ | 111.3 | $ | 1,157.2 | |||||||||||||||||||||||||||
Net income | — | — | 174.9 | — | — | 5.2 | 180.1 | ||||||||||||||||||||||||||||||||||
Other comprehensive loss | — | — | — | — | (19.9) | (1.3) | (21.2) | ||||||||||||||||||||||||||||||||||
Purchase of treasury stock | — | — | — | (10.1) | — | — | (10.1) | ||||||||||||||||||||||||||||||||||
Employee stock plans | 0.1 | 13.9 | — | (10.8) | — | — | 3.2 | ||||||||||||||||||||||||||||||||||
Balance, June 30, 2023 | $ | 13.2 | $ | 1,682.0 | $ | (306.0) | $ | (107.9) | $ | (87.3) | $ | 115.2 | $ | 1,309.2 | |||||||||||||||||||||||||||
Balance, December 31, 2022 | $ | 13.1 | $ | 1,668.1 | $ | (480.9) | $ | (87.0) | $ | (67.4) | $ | 111.3 | $ | 1,157.2 | |||||||||||||||||||||||||||
Net income | — | — | 265.1 | — | — | 9.1 | 274.2 | ||||||||||||||||||||||||||||||||||
Other comprehensive loss | — | — | — | — | (27.0) | (3.4) | (30.4) | ||||||||||||||||||||||||||||||||||
Purchase of treasury stock | — | — | — | (55.5) | — | — | (55.5) | ||||||||||||||||||||||||||||||||||
Employee stock plans | 0.1 | 21.4 | — | (11.1) | — | — | 10.4 | ||||||||||||||||||||||||||||||||||
Balance, September 30, 2023 | $ | 13.2 | $ | 1,689.5 | $ | (215.8) | $ | (153.6) | $ | (94.4) | $ | 117.0 | $ | 1,355.9 |
Fiscal Year Ended | Three Months Ended | Fiscal Year Ended | ||||||||||||||||||
December 31 | December 31 | December 31 | ||||||||||||||||||
2021 | 2022 | 2022 | ||||||||||||||||||
Sales: | ||||||||||||||||||||
High Performance Materials & Components | $ | 1,155.1 | $ | 445.9 | $ | 1,641.2 | ||||||||||||||
Advanced Alloys & Solutions | 1,644.7 | 564.5 | 2,194.8 | |||||||||||||||||
Total external sales | $ | 2,799.8 | $ | 1,010.4 | $ | 3,836.0 | ||||||||||||||
EBITDA: | ||||||||||||||||||||
High Performance Materials & Components | $ | 170.3 | $ | 83.6 | $ | 303.4 | ||||||||||||||
% of Sales | 14.7 | % | 18.7 | % | 18.5 | % | ||||||||||||||
Advanced Alloys & Solutions | 246.8 | 84.0 | 375.3 | |||||||||||||||||
% of Sales | 15.0 | % | 14.9 | % | 17.1 | % | ||||||||||||||
Total segment EBITDA | 417.1 | 167.6 | 678.7 | |||||||||||||||||
% of Sales | 14.9 | % | 16.6 | % | 17.7 | % | ||||||||||||||
Corporate expenses | (53.7) | (14.0) | (60.3) | |||||||||||||||||
Closed operations and other income (expense) | 3.1 | 2.3 | (5.6) | |||||||||||||||||
ATI Adjusted EBITDA | $ | 366.5 | $ | 155.9 | $ | 612.8 | ||||||||||||||
Depreciation & amortization | (143.9) | (35.8) | (142.9) | |||||||||||||||||
Interest expense, net | (96.9) | (19.6) | (87.4) | |||||||||||||||||
Restructuring and other credits (charges) | 10.5 | (0.2) | (23.7) | |||||||||||||||||
Strike related costs | (63.2) | — | — | |||||||||||||||||
Retirement benefit settlement gain | 64.9 | — | — | |||||||||||||||||
Pension remeasurement gain | 147.2 | 100.3 | 100.3 | |||||||||||||||||
Debt extinguishment charge | (65.5) | — | — | |||||||||||||||||
Joint venture restructuring credits | — | 0.9 | 0.9 | |||||||||||||||||
Gain (loss) on asset sales and sales of businesses, net | 13.8 | — | (105.4) | |||||||||||||||||
Income before income taxes | $ | 233.4 | $ | 201.5 | $ | 354.6 | ||||||||||||||
Three Months Ended | Three Months Ended | Six Months Ended | Three Months Ended | Nine Months Ended | |||||||||||||||||||||||||
March 31 | June 30 | June 30 | September 30 | September 30 | |||||||||||||||||||||||||
2023 | 2023 | 2023 | 2023 | 2023 | |||||||||||||||||||||||||
Sales: | |||||||||||||||||||||||||||||
High Performance Materials & Components | $ | 471.1 | $ | 527.1 | $ | 998.2 | $ | 539.5 | $ | 1,537.7 | |||||||||||||||||||
Advanced Alloys & Solutions | 567.0 | 518.9 | 1,085.9 | 486.1 | 1,572.0 | ||||||||||||||||||||||||
Total external sales | $ | 1,038.1 | $ | 1,046.0 | $ | 2,084.1 | $ | 1,025.6 | $ | 3,109.7 | |||||||||||||||||||
EBITDA: | |||||||||||||||||||||||||||||
High Performance Materials & Components | $ | 81.6 | $ | 109.7 | $ | 191.3 | $ | 117.2 | $ | 308.5 | |||||||||||||||||||
% of Sales | 17.3 | % | 20.8 | % | 19.2 | % | 21.7 | % | 20.1 | % | |||||||||||||||||||
Advanced Alloys & Solutions | 83.7 | 74.1 | 157.8 | 61.5 | 219.3 | ||||||||||||||||||||||||
% of Sales | 14.8 | % | 14.3 | % | 14.5 | % | 12.7 | % | 14.0 | % | |||||||||||||||||||
Total segment EBITDA | 165.3 | 183.8 | 349.1 | 178.7 | 527.8 | ||||||||||||||||||||||||
% of Sales | 15.9 | % | 17.6 | % | 16.8 | % | 17.4 | % | 17.0 | % | |||||||||||||||||||
Corporate expenses | (16.9) | (17.7) | (34.6) | (12.5) | (47.1) | ||||||||||||||||||||||||
Closed operations and other expense | (1.3) | (1.9) | (3.2) | (3.6) | (6.8) | ||||||||||||||||||||||||
ATI Adjusted EBITDA | $ | 147.1 | $ | 164.2 | $ | 311.3 | $ | 162.6 | $ | 473.9 | |||||||||||||||||||
Depreciation & amortization | (35.1) | (35.9) | (71.0) | (35.6) | (106.6) | ||||||||||||||||||||||||
Interest expense, net | (19.9) | (21.3) | (41.2) | (23.8) | (65.0) | ||||||||||||||||||||||||
Restructuring and other charges | (1.2) | (9.2) | (10.4) | (4.2) | (14.6) | ||||||||||||||||||||||||
Loss on asset sales and sales of businesses, net | — | (0.6) | (0.6) | — | (0.6) | ||||||||||||||||||||||||
Income before income taxes | $ | 90.9 | $ | 97.2 | $ | 188.1 | $ | 99.0 | $ | 287.1 | |||||||||||||||||||
Pension Benefits | |||||||||||
Fiscal Year Ended | Fiscal Year Ended | ||||||||||
December 31 | December 31 | ||||||||||
2021 | 2022 | ||||||||||
Service cost - benefits earned during the year | $ | 15.1 | $ | 11.9 | |||||||
Interest cost on benefits earned in prior years | 68.4 | 69.7 | |||||||||
Expected return on plan assets | (136.4) | (128.2) | |||||||||
Amortization of prior service cost | 0.6 | 0.4 | |||||||||
Recognized actuarial gain- mark to market | (147.2) | (100.3) | |||||||||
Settlement loss | — | 0.7 | |||||||||
Total retirement benefit income | $ | (199.5) | $ | (145.8) |
Pension Benefits | |||||||||||||||||||||||||||||
Three Months Ended | Three Months Ended | Six Months Ended | Three Months Ended | Nine Months Ended | |||||||||||||||||||||||||
March 31 | June 30 | June 30 | September 30 | September 30 | |||||||||||||||||||||||||
2023 | 2023 | 2023 | 2023 | 2023 | |||||||||||||||||||||||||
Service cost - benefits earned during the year | $ | 1.6 | $ | 1.6 | $ | 3.2 | $ | 1.5 | $ | 4.7 | |||||||||||||||||||
Interest cost on benefits earned in prior years | 24.0 | 24.0 | 48.0 | 24.0 | 72.0 | ||||||||||||||||||||||||
Expected return on plan assets | (25.7) | (25.6) | (51.3) | (25.7) | (77.0) | ||||||||||||||||||||||||
Amortization of prior service cost | 0.1 | 0.1 | 0.2 | 0.1 | 0.3 | ||||||||||||||||||||||||
Total retirement benefit expense (income) | $ | — | $ | 0.1 | $ | 0.1 | $ | (0.1) | $ | — |
Fiscal Year Ended | Three Months Ended | Fiscal Year Ended | ||||||||||||||||||
December 31 | December 31 | December 31 | ||||||||||||||||||
2021 | 2022 | 2022 | ||||||||||||||||||
Numerator for Basic net income per common share - | ||||||||||||||||||||
Net income attributable to ATI | $ | 184.6 | $ | 193.0 | $ | 323.5 | ||||||||||||||
Effect of dilutive securities: | ||||||||||||||||||||
4.75% Convertible Senior Notes due 2022 | 4.4 | — | 2.2 | |||||||||||||||||
3.5% Convertible Senior Notes due 2025 | 11.8 | 2.7 | 11.3 | |||||||||||||||||
Numerator for Diluted net income per common share - | ||||||||||||||||||||
Net income attributable to ATI after assumed conversions | $ | 200.8 | $ | 195.7 | $ | 337.0 | ||||||||||||||
Denominator for Basic net income per common share - | ||||||||||||||||||||
Weighted average shares outstanding | 127.1 | 129.1 | 127.5 | |||||||||||||||||
Effect of dilutive securities: | ||||||||||||||||||||
Share-based compensation | 1.0 | 2.5 | 2.1 | |||||||||||||||||
4.75% Convertible Senior Notes due 2022 | 5.8 | — | 2.8 | |||||||||||||||||
3.5% Convertible Senior Notes due 2025 | 18.8 | 18.8 | 18.8 | |||||||||||||||||
Denominator for Diluted net income per common share - | ||||||||||||||||||||
Adjusted weighted average shares assuming conversions | 152.7 | 150.4 | 151.2 | |||||||||||||||||
Basic net income attributable to ATI per common share | $ | 1.45 | $ | 1.49 | $ | 2.54 | ||||||||||||||
Diluted net income attributable to ATI per common share | $ | 1.32 | $ | 1.30 | $ | 2.23 | ||||||||||||||
Three Months Ended | Three Months Ended | Six Months Ended | Three Months Ended | Nine Months Ended | ||||||||||||||||||||||||||||
March 31 | June 30 | June 30 | September 30 | September 30 | ||||||||||||||||||||||||||||
2023 | 2023 | 2023 | 2023 | 2023 | ||||||||||||||||||||||||||||
Numerator for Basic net income per common share - | ||||||||||||||||||||||||||||||||
Net income attributable to ATI | $ | 84.5 | $ | 90.4 | $ | 174.9 | $ | 90.2 | $ | 265.1 | ||||||||||||||||||||||
Effect of dilutive securities: | ||||||||||||||||||||||||||||||||
3.5% Convertible Senior Notes due 2025 | 2.6 | 2.6 | 5.2 | 2.7 | 7.9 | |||||||||||||||||||||||||||
Numerator for Diluted net income per common share - | ||||||||||||||||||||||||||||||||
Net income attributable to ATI after assumed conversions | $ | 87.1 | $ | 93.0 | $ | 180.1 | $ | 92.9 | $ | 273.0 | ||||||||||||||||||||||
Denominator for Basic net income per common share - | ||||||||||||||||||||||||||||||||
Weighted average shares outstanding | 128.5 | 128.5 | 128.5 | 128.1 | 128.4 | |||||||||||||||||||||||||||
Effect of dilutive securities: | ||||||||||||||||||||||||||||||||
Share-based compensation | 2.8 | 2.8 | 2.8 | 3.3 | 2.9 | |||||||||||||||||||||||||||
3.5% Convertible Senior Notes due 2025 | 18.8 | 18.8 | 18.8 | 18.8 | 18.8 | |||||||||||||||||||||||||||
Denominator for Diluted net income per common share - | ||||||||||||||||||||||||||||||||
Adjusted weighted average shares assuming conversions | 150.1 | 150.1 | 150.1 | 150.2 | 150.1 | |||||||||||||||||||||||||||
Basic net income attributable to ATI per common share | $ | 0.66 | $ | 0.70 | $ | 1.36 | $ | 0.70 | $ | 2.06 | ||||||||||||||||||||||
Diluted net income attributable to ATI per common share | $ | 0.58 | $ | 0.62 | $ | 1.20 | $ | 0.62 | $ | 1.82 | ||||||||||||||||||||||
Post- retirement benefit plans | Currency translation adjustment | Derivatives | Deferred Tax Asset Valuation Allowance | Total | |||||||||||||||||||||||||
Attributable to ATI: | |||||||||||||||||||||||||||||
Balance, December 31, 2020 | $ | (1,119.9) | $ | (55.5) | $ | 2.1 | $ | (50.3) | $ | (1,223.6) | |||||||||||||||||||
Cumulative effect of change in accounting principle | 1,030.3 | — | — | 42.9 | 1,073.2 | ||||||||||||||||||||||||
OCI before reclassifications | 6.6 | (9.4) | 11.7 | — | 8.9 | ||||||||||||||||||||||||
Amounts reclassified from AOCI | (3.6) | — | (8.7) | 12.5 | 0.2 | ||||||||||||||||||||||||
Net current-period OCI | 1,033.3 | (9.4) | 3.0 | 55.4 | 1,082.3 | ||||||||||||||||||||||||
Balance, December 31, 2021 | $ | (86.6) | $ | (64.9) | $ | 5.1 | $ | 5.1 | $ | (141.3) | |||||||||||||||||||
OCI before reclassifications | 41.3 | (25.2) | 41.0 | — | 57.1 | ||||||||||||||||||||||||
Amounts reclassified from AOCI | 10.6 | 20.0 | (32.6) | 18.8 | 16.8 | ||||||||||||||||||||||||
Net current-period OCI | 51.9 | (5.2) | 8.4 | 18.8 | 73.9 | ||||||||||||||||||||||||
Balance, December 31, 2022 | $ | (34.7) | $ | (70.1) | $ | 13.5 | $ | 23.9 | $ | (67.4) | |||||||||||||||||||
OCI before reclassifications | — | (1.1) | (11.4) | — | (12.5) | ||||||||||||||||||||||||
Amounts reclassified from AOCI | 1.1 | — | (4.2) | (4.6) | (7.7) | ||||||||||||||||||||||||
Net current-period OCI | 1.1 | (1.1) | (15.6) | (4.6) | (20.2) | ||||||||||||||||||||||||
Balance, March 31, 2023 | $ | (33.6) | $ | (71.2) | $ | (2.1) | $ | 19.3 | $ | (87.6) | |||||||||||||||||||
OCI before reclassifications | — | (2.4) | (1.9) | — | (4.3) | ||||||||||||||||||||||||
Amounts reclassified from AOCI | 1.0 | — | 2.9 | 0.7 | 4.6 | ||||||||||||||||||||||||
Net current-period OCI | 1.0 | (2.4) | 1.0 | 0.7 | 0.3 | ||||||||||||||||||||||||
Balance, June 30, 2023 | $ | (32.6) | $ | (73.6) | $ | (1.1) | $ | 20.0 | $ | (87.3) | |||||||||||||||||||
OCI before reclassifications | — | (7.1) | (2.4) | — | (9.5) | ||||||||||||||||||||||||
Amounts reclassified from AOCI | 1.0 | — | 1.4 | — | 2.4 | ||||||||||||||||||||||||
Net current-period OCI | 1.0 | (7.1) | (1.0) | — | (7.1) | ||||||||||||||||||||||||
Balance, September 30, 2023 | $ | (31.6) | $ | (80.7) | $ | (2.1) | $ | 20.0 | $ | (94.4) |
Post- retirement benefit plans | Currency translation adjustment | Derivatives | Deferred Tax Asset Valuation Allowance | Total | |||||||||||||||||||||||||
Attributable to ATI: | |||||||||||||||||||||||||||||
Balance, December 31, 2022 | $ | (34.7) | $ | (70.1) | $ | 13.5 | $ | 23.9 | $ | (67.4) | |||||||||||||||||||
OCI before reclassifications | — | (3.5) | (13.3) | — | (16.8) | ||||||||||||||||||||||||
Amounts reclassified from AOCI | 2.1 | — | (1.3) | (3.9) | (3.1) | ||||||||||||||||||||||||
Net current-period OCI | 2.1 | (3.5) | (14.6) | (3.9) | (19.9) | ||||||||||||||||||||||||
Balance, June 30, 2023 | $ | (32.6) | $ | (73.6) | $ | (1.1) | $ | 20.0 | $ | (87.3) | |||||||||||||||||||
Attributable to ATI: | |||||||||||||||||||||||||||||
Balance, December 31, 2022 | $ | (34.7) | $ | (70.1) | $ | 13.5 | $ | 23.9 | $ | (67.4) | |||||||||||||||||||
OCI before reclassifications | — | (10.6) | (15.7) | — | (26.3) | ||||||||||||||||||||||||
Amounts reclassified from AOCI | 3.1 | — | 0.1 | (3.9) | (0.7) | ||||||||||||||||||||||||
Net current-period OCI | 3.1 | (10.6) | (15.6) | (3.9) | (27.0) | ||||||||||||||||||||||||
Balance, September 30, 2023 | $ | (31.6) | $ | (80.7) | $ | (2.1) | $ | 20.0 | $ | (94.4) |
Fiscal Year Ended | Fiscal Year Ended | ||||||||||
December 31 | December 31 | ||||||||||
Details about AOCI Components | 2021 | 2022 | |||||||||
Postretirement benefit plans | |||||||||||
Prior service credit | $ | 1.8 | $ | 0.5 | |||||||
Actuarial losses | (13.9) | (13.2) | |||||||||
Settlement gain (loss) | 21.9 | (0.7) | |||||||||
Total before tax (a) | 9.8 | 9.8 | (13.4) | ||||||||
Tax expense (benefit) (b) | 6.2 | (2.8) | |||||||||
Net of tax | $ | 3.6 | $ | (10.6) |
Three Months Ended | Three Months Ended | Six Months Ended | Three Months Ended | Nine Months Ended | |||||||||||||||||||||||||
March 31 | June 30 | June 30 | September 30 | September 30 | |||||||||||||||||||||||||
Details about AOCI Components | 2023 | 2023 | 2023 | 2023 | 2023 | ||||||||||||||||||||||||
Postretirement benefit plans | |||||||||||||||||||||||||||||
Prior service credit | $ | 0.1 | $ | 0.2 | $ | 0.3 | $ | 0.1 | $ | 0.4 | |||||||||||||||||||
Actuarial losses | (1.5) | (1.5) | (3.0) | (1.5) | (4.5) | ||||||||||||||||||||||||
Total before tax (a) | (1.4) | (1.3) | (2.7) | (1.4) | (4.1) | ||||||||||||||||||||||||
Tax benefit (b) | (0.3) | (0.3) | (0.6) | (0.4) | (1.0) | ||||||||||||||||||||||||
Net of tax | $ | (1.1) | $ | (1.0) | $ | (2.1) | $ | (1.0) | $ | (3.1) |
Fiscal Year Ended | Three Months Ended | Fiscal Year Ended | |||||||||
December 31 | December 31 | December 31 | |||||||||
2021 | 2022 | 2022 | |||||||||
Net income attributable to ATI | $ | 184.6 | $ | 193.0 | $ | 323.5 | |||||
Adjustments for special items, pre-tax: | |||||||||||
Strike related costs (a) | 63.2 | — | — | ||||||||
Restructuring and other charges (credits) (b) | (10.5) | — | 23.5 | ||||||||
Retirement benefit settlement gain (c) | (64.9) | — | — | ||||||||
Pension remeasurement gain (d) | (147.2) | (100.3) | (100.3) | ||||||||
Loss (gain) on sale of business (e) | (13.8) | — | 105.4 | ||||||||
Debt extinguishment charge (f) | 65.5 | — | — | ||||||||
Total pre-tax adjustments | (107.7) | (100.3) | 28.6 | ||||||||
Income tax on pre-tax adjustments for special items | 15.5 | — | (0.9) | ||||||||
Net income attributable to ATI excluding special items | $ | 92.4 | $ | 92.7 | $ | 351.2 | |||||
Fiscal Year Ended | Three Months Ended | Fiscal Year Ended | |||||||||||||||||||||||||||
December 31, 2021 | December 31, 2022 | December 31, 2022 | |||||||||||||||||||||||||||
Reported | Adjusted | Reported | Adjusted | Reported | Adjusted | ||||||||||||||||||||||||
Numerator for Basic net income per common share - | |||||||||||||||||||||||||||||
Net income attributable to ATI | $ | 184.6 | $ | 92.4 | $ | 193.0 | $ | 92.7 | $ | 323.5 | $ | 351.2 | |||||||||||||||||
Effect of dilutive securities | 16.2 | 16.2 | 2.7 | 2.7 | 13.5 | 13.5 | |||||||||||||||||||||||
Numerator for Diluted net income per common share - | |||||||||||||||||||||||||||||
Net income attributable to ATI after assumed conversions | $ | 200.8 | $ | 108.6 | $ | 195.7 | $ | 95.4 | $ | 337.0 | $ | 364.7 | |||||||||||||||||
Denominator for Basic net income per common share - | |||||||||||||||||||||||||||||
Weighted average shares outstanding | 127.1 | 127.1 | 129.1 | 129.1 | 127.5 | 127.5 | |||||||||||||||||||||||
Effect of dilutive securities | 25.6 | 25.6 | 21.3 | 21.3 | 23.7 | 23.7 | |||||||||||||||||||||||
Denominator for Diluted net income per common share - | |||||||||||||||||||||||||||||
Adjusted weighted average shares assuming conversions | 152.7 | 152.7 | 150.4 | 150.4 | 151.2 | 151.2 | |||||||||||||||||||||||
Diluted net income attributable to ATI per common share | $ | 1.32 | $ | 0.71 | $ | 1.30 | $ | 0.63 | $ | 2.23 | $ | 2.41 |
Three Months Ended | |||||||||||
March 31 | June 30 | September | |||||||||
2023 | 2023 | 2023 | |||||||||
Net income attributable to ATI | $ | 84.5 | $ | 90.4 | $ | 90.2 | |||||
Adjustments for special items, pre-tax: | |||||||||||
Restructuring and other charges (b) | 1.2 | 10.0 | 4.2 | ||||||||
Loss on sale of business (e) | — | 0.6 | — | ||||||||
Total pre-tax adjustments | 1.2 | 10.6 | 4.2 | ||||||||
Income tax on pre-tax adjustments for special items | (0.1) | (0.4) | (0.2) | ||||||||
Net income attributable to ATI excluding special items | $ | 85.6 | $ | 100.6 | $ | 94.2 |
Three Months Ended | Three Months Ended | Three Months Ended | |||||||||||||||||||||||||||
March 31, 2023 | June 30, 2023 | September 30, 2023 | |||||||||||||||||||||||||||
Reported | Adjusted | Reported | Adjusted | Reported | Adjusted | ||||||||||||||||||||||||
Numerator for Basic net income per common share - | |||||||||||||||||||||||||||||
Net income attributable to ATI | $ | 84.5 | $ | 85.6 | $ | 90.4 | $ | 100.6 | $ | 90.2 | $ | 94.2 | |||||||||||||||||
Effect of dilutive securities | 2.6 | 2.6 | 2.6 | 2.6 | 2.7 | 2.7 | |||||||||||||||||||||||
Numerator for Diluted net income per common share - | |||||||||||||||||||||||||||||
Net income attributable to ATI after assumed conversions | $ | 87.1 | $ | 88.2 | $ | 93.0 | $ | 103.2 | $ | 92.9 | $ | 96.9 | |||||||||||||||||
Denominator for Basic net income per common share - | |||||||||||||||||||||||||||||
Weighted average shares outstanding | 128.5 | 128.5 | 128.5 | 128.5 | 128.1 | 128.1 | |||||||||||||||||||||||
Effect of dilutive securities | 21.6 | 21.6 | 21.6 | 21.6 | 22.1 | 22.1 | |||||||||||||||||||||||
Denominator for Diluted net income per common share - | |||||||||||||||||||||||||||||
Adjusted weighted average shares assuming conversions | 150.1 | 150.1 | 150.1 | 150.1 | 150.2 | 150.2 | |||||||||||||||||||||||
Diluted net income attributable to ATI per common share | $ | 0.58 | $ | 0.59 | $ | 0.62 | $ | 0.69 | $ | 0.62 | $ | 0.64 | |||||||||||||||||
Cover |
Jan. 19, 2024 |
---|---|
Cover [Abstract] | |
Document Type | 8-K |
Document Period End Date | Jan. 19, 2024 |
Entity Registrant Name | ATI Inc. |
Entity Incorporation, State or Country Code | DE |
Entity File Number | 1-12001 |
Entity Tax Identification Number | 25-1792394 |
Entity Address, Address Line One | 2021 McKinney Avenue, |
Entity Address, City or Town | Dallas, |
Entity Address, State or Province | TX |
Entity Address, Postal Zip Code | 75201 |
City Area Code | 800 |
Local Phone Number | 289-7454 |
Written Communications | false |
Soliciting Material | false |
Pre-commencement Tender Offer | false |
Pre-commencement Issuer Tender Offer | false |
Title of 12(b) Security | Common Stock, par value $0.10 per share |
Trading Symbol | ATI |
Security Exchange Name | NYSE |
Entity Emerging Growth Company | false |
Entity Central Index Key | 0001018963 |
Amendment Flag | false |
1 Year ATI Chart |
1 Month ATI Chart |
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