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