The Timken Company (TKR) 10-K16 Feb 212020 FY Annual reportFinancial data

Company Profile

Cover Page

Cover Page - USD ($)	12 Months Ended
Cover Page - USD ($)	Dec. 31, 2020	Jan. 31, 2021	Jun. 30, 2020
Cover [Abstract]
Document Type	10-K
Document Annual Report	true
Document Period End Date	Dec. 31, 2020
Current Fiscal Year End Date	--12-31
Document Transition Report	false
Entity File Number	1-1169
Entity Registrant Name	TIMKEN CO
Entity Incorporation, State or Country Code	OH
Entity Tax Identification Number	34-0577130
Entity Address, Address Line One	4500 Mount Pleasant Street NW
Entity Address, City or Town	North Canton
Entity Address, State or Province	OH
Entity Address, Postal Zip Code	44720-5450
City Area Code	234
Local Phone Number	262.3000
Title of 12(b) Security	Common Shares, without par value
Trading Symbol	TKR
Security Exchange Name	NYSE
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Auditor Attestation Flag	true
Entity Shell Company	false
Entity Public Float			$ 2,974,671,799
Entity Common Stock, Shares Outstanding		75,710,735
Entity Central Index Key	0000098362
Amendment Flag	false
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	FY
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		75,710,735

Consolidated Statements of Inco

Consolidated Statements of Income - USD ($) $ in Millions	12 Months Ended
Consolidated Statements of Income - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Income Statement [Abstract]
Net sales	$ 3,513.2	$ 3,789.9	$ 3,580.8
Cost of products sold	2,503.3	2,648.1	2,540.7
Gross Profit	1,009.9	1,141.8	1,040.1
Selling, general and administrative expenses	533.8	618.6	580.7
Impairment and restructuring charges	21.2	6.8	4.9
Operating Income	454.9	516.4	454.5
Interest expense	(67.6)	(72.1)	(51.7)
Interest income	3.7	4.9	2.1
Non-service pension and other postretirement (expense) income	(4.7)	10.2	(6.2)
Other income, net	10	13	9.4
Income Before Income Taxes	396.3	472.4	408.1
Provision for income taxes	103.9	97.7	102.6
Net Income	292.4	374.7	305.5
Less: Net income attributable to noncontrolling interest	7.9	12.6	2.7
Net Income Attributable to The Timken Company	$ 284.5	$ 362.1	$ 302.8
Net Income per Common Share Attributable to The Timken Company Common Shareholders
Basic earnings per share (in dollars per share)	$ 3.78	$ 4.78	$ 3.93
Diluted earnings per share (in dollars per share)	$ 3.72	$ 4.71	$ 3.86

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Statement of Comprehensive Income [Abstract]
Net Income	$ 292.4	$ 374.7	$ 305.5
Other comprehensive income (loss), net of tax:
Foreign currency translation adjustments	92.7	(19.9)	(67.4)
Pension and postretirement liability adjustments	(3.5)	66.9	0.4
Change in fair value of derivative financial instruments	(2.4)	(2)	3.8
Other comprehensive income (loss), net of tax	86.8	45	(63.2)
Comprehensive Income, net of tax	379.2	419.7	242.3
Less: comprehensive income (loss) attributable to noncontrolling interest	3.3	12.4	(4.2)
Comprehensive Income Attributable to The Timken Company	$ 375.9	$ 407.3	$ 246.5

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Current Assets
Cash and cash equivalents	$ 320.3	$ 209.5
Restricted cash	0.8	6.7
Accounts receivable, less allowances: (2020 - $16.5 million; 2019 - $18.1 million)	581.1	545.1
Unbilled receivables	110.9	129.2
Inventories, net	841.3	842
Deferred charges and prepaid expenses	39.9	36.7
Other current assets	106	105.4
Total Current Assets	2,000.3	1,874.6
Property, Plant and Equipment, Net	1,035.6	989.2
Other Assets
Goodwill	1,047.6	993.7
Other intangible assets, net	741.4	758.5
Operating lease expense	118.2	114.1
Non-current pension assets	2	3.4
Non-current other postretirement benefit assets	0	36.6
Deferred income taxes	77	71.8
Other Assets, Miscellaneous, Noncurrent	19.5	18
Other Assets, Noncurrent, Total	2,005.7	1,996.1
Total Assets	5,041.6	4,859.9
Current Liabilities
Short-term debt	119.8	17.3
Current portion of long-term debt	10.9	64.7
Short-term operating lease liabilities	27.2	28.3
Accounts payable, trade	351.4	301.7
Salaries, wages and benefits	135.7	134.5
Income taxes payable	16.1	17.8
Other current liabilities	186.9	172.3
Total Current Liabilities	848	736.6
Non-Current Liabilities
Long-term debt	1,433.9	1,648.1
Accrued pension benefits	163	165.1
Accrued postretirement benefits	41.3	31.8
Long-term operating lease liabilities	75.5	71.3
Deferred income taxes	148.7	168.2
Other non-current liabilities	106	84
Total Non-Current Liabilities	1,968.4	2,168.5
Shareholders’ Equity
Class I and II Serial Preferred Stock without par value: Authorized – 10,000,000 shares each class, none issued	0	0
Stated capital	40.7	53.1
Other paid-in capital	740.7	937.6
Retained earnings	1,339.5	1,907.4
Accumulated other comprehensive loss	41.3	(50.1)
Treasury shares at cost (2020 – 158,836 shares; 2019 – 22,836,180 shares)	(9.3)	(979.8)
Total Shareholders’ Equity	2,152.9	1,868.2
Noncontrolling interest	72.3	86.6
Total Equity	2,225.2	1,954.8
Total Liabilities and Equity	$ 5,041.6	$ 4,859.9

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Statement of Financial Position [Abstract]
Allowances for accounts receivable	$ 16.5	$ 18.1
Preferred stock, shares authorized (class I & class II preferred stock)	10,000,000	10,000,000
Preferred stock, shares issued	0	0
Company common stock shares authorized	200,000,000	200,000,000
Common stock, shares issued	75,834,668	98,375,135
Treasury shares	158,836	22,836,180

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Operating Activities
Net Income	$ 292.4	$ 374.7	$ 305.5
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	167.1	160.6	146
Impairment charges	0.4	2.6	1.3
Loss (gain) on sale of assets	0.9	(3.6)	0.3
Gain on disposal of lease assets	0	(0.4)	0
Bargain purchase price gain	(11.1)	0	0
Loss on divestitures	0	0	0.8
Deferred income tax benefit	(23.2)	(8.9)	(21.4)
Stock-based compensation expense	23.2	27.1	32.3
Pension and other postretirement expense	17.4	2.2	20.7
Pension and other postretirement benefit contributions and payments	(20.6)	(43.4)	(18.7)
Changes in operating assets and liabilities:
Accounts receivable	(20.7)	24.1	(66.4)
Unbilled receivables	18.5	(12.6)	(21.8)
Inventories	27.4	50.7	(87.1)
Accounts payable, trade	22.6	19.9	(20.2)
Other accrued expenses	55.1	(26.8)	32.2
Income taxes	8.5	(14.2)	1.9
Other, net	19.7	(1.9)	27.1
Net Cash Provided by Operating Activities	577.6	550.1	332.5
Investing Activities
Capital expenditures	(121.6)	(140.6)	(112.6)
Acquisitions, net of cash acquired of $5.9 million in 2019 and $30.1 million in 2018	(24)	(226.5)	(765.4)
Proceeds from disposals of property, plant and equipment	1.5	6.3	1.5
Proceeds from divestitures	0	0	14
Investments in short-term marketable securities, net	(9.4)	(4.1)	(2.7)
Net Cash Used in Investing Activities	(153.5)	(364.9)	(865.2)
Financing Activities
Cash dividends paid to shareholders	(87)	(84.9)	(85.7)
Purchase of treasury shares	(49.3)	(62.7)	(98.5)
Proceeds from exercise of stock options	37.4	27.5	12.8
Payments related to tax withholding for stock-based compensation	(16)	(15.4)	(5.4)
Proceeds from long-term debt	562	662.8	1,391.1
Payments on long-term debt	(757.7)	(633.8)	(663.8)
Deferred financing costs	(1.7)	(1.9)	(1.2)
Accounts receivable facility financing borrowings	144	25	152
Accounts receivable facility financing payments	(186)	0	(139.9)
Short-term debt activity, net	40.1	(17)	(6.7)
Noncontrolling interest dividends paid	(16.9)	(0.3)	(1.6)
Net Cash (Used in) Provided by Financing Activities	(331.1)	(100.7)	553.1
Effect of exchange rate changes on cash	11.9	(1.4)	(12.7)
Increase In Cash, Cash Equivalents and Restricted Cash	104.9	83.1	7.7
Cash, cash equivalents and restricted cash at beginning of year	216.2	133.1	125.4
Cash, Cash Equivalents and Restricted Cash at End of Year	$ 321.1	$ 216.2	$ 133.1

Consolidated Statements of Ca_2

Consolidated Statements of Cash Flows (Parenthetical) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Statement of Cash Flows [Abstract]
Amount of cash acquired	$ 5.9	$ 30.1

Consolidated Statements of Shar

Consolidated Statements of Shareholders' Equity - USD ($) $ in Millions	Total	Cumulative Effect, Period of Adoption, Adjustment	Stated Capital	Other Paid-In Capital	Retained Earnings	Retained EarningsCumulative Effect, Period of Adoption, Adjustment	Accumulated Other Comprehensive Income (Loss)	Accumulated Other Comprehensive Income (Loss)Cumulative Effect, Period of Adoption, Adjustment	Treasury Shares	Non- controlling Interest
Beginning Balance at Dec. 31, 2017	$ 1,474.9		$ 53.1	$ 903.8	$ 1,408.4		$ (38.3)		$ (884.3)	$ 32.2
Beginning Balance (Cumulative effect of ASU 2014-09) at Dec. 31, 2017		$ 4				$ 4
Beginning Balance (Cumulative effect of ASU 2018-02) at Dec. 31, 2017						0.7		$ (0.7)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net Income	305.5				302.8					2.7
Foreign currency translation adjustments	(67.4)						(60.5)			(6.9)
Pension and other postretirement liability adjustments	0.4						0.4
Change in fair value of derivative financial instruments, net of reclassifications	3.8						3.8
Shares issued for the acquisition of ABC Bearings	66			30.9						35.1
Dividends	(85.7)				(85.7)
Stock-based compensation expense	32.3			32.3
Purchase of treasury shares	(98.5)								(98.5)
Stock option exercise activity	12.8			(3.8)					16.6
Restricted share activity	0			(11.3)					11.3
Payments related to tax withholding for stock-based compensation	(5.4)								(5.4)
Ending Balance at Dec. 31, 2018	1,642.7		53.1	951.9	1,630.2		(95.3)		(960.3)	63.1
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net Income	374.7				362.1					12.6
Foreign currency translation adjustments	(19.9)						(19.7)			(0.2)
Pension and other postretirement liability adjustments	66.9						66.9
Change in fair value of derivative financial instruments, net of reclassifications	(2)						(2)
Change in ownership of noncontrolling interest	(0.5)			(10.3)						9.8
Noncontrolling interest acquired	1.8									1.8
Dividends declared to noncontrolling interest	(0.5)									(0.5)
Dividends	(84.9)				(84.9)
Stock-based compensation expense	27.1			27.1
Purchase of treasury shares	(62.7)								(62.7)
Stock option exercise activity	27.5			(7.8)					35.3
Restricted share activity	0			(23.3)					23.3
Payments related to tax withholding for stock-based compensation	(15.4)								(15.4)
Ending Balance at Dec. 31, 2019	1,954.8	$ (0.5)	53.1	937.6	1,907.4	$ (0.5)	(50.1)		(979.8)	86.6
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net Income	292.4				284.5					7.9
Foreign currency translation adjustments	92.7						97.3			(4.6)
Pension and other postretirement liability adjustments	(3.5)						(3.5)
Change in fair value of derivative financial instruments, net of reclassifications	(2.4)						(2.4)
Change in ownership of noncontrolling interest	0.5									0.5
Noncontrolling interest acquired	(1)			1						(2)
Dividends declared to noncontrolling interest	(16.1)									(16.1)
Treasury stock retirement	0		(12.4)	(213.3)	(764.9)				990.6
Dividends	(87)				(87)
Stock-based compensation expense	23.2			23.2
Purchase of treasury shares	(49.3)								(49.3)
Stock option exercise activity	37.4			16.1					21.3
Restricted share activity	0			(23.9)					23.9
Payments related to tax withholding for stock-based compensation	(16)								(16)
Ending Balance at Dec. 31, 2020	$ 2,225.2		$ 40.7	$ 740.7	$ 1,339.5		$ 41.3		$ (9.3)	$ 72.3

Consolidated Statements of Sh_2

Consolidated Statements of Shareholders' Equity (Parenthetical) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Pension and postretirement liability adjustment, tax	$ 1.1	$ 22.2	$ 0.5
Dividend per share (in dollars per shares)	$ 1.13	$ 1.12	$ 1.11
Cumulative effect of ASU 2014-09
Income tax expense (benefit), intraperiod tax allocation			$ 1.5
Cumulative effect of ASU 2016-13
Income tax expense (benefit), intraperiod tax allocation	$ 0.2

Significant Accounting Policies

Significant Accounting Policies	12 Months Ended
Significant Accounting Policies	Dec. 31, 2020
Accounting Policies [Abstract]
Significant Accounting Policies	Note 1 - Significant Accounting Policies Principles of Consolidation: The consolidated financial statements include the accounts and operations of the Company in which a controlling interest is maintained. Investments in affiliated companies where the Company exercises significant influence, but does not control, and the activities of which it is not the primary beneficiary, are accounted for using the equity method. All intercompany accounts and transactions are eliminated upon consolidation. Revenue: A contract exists when it has approval and commitment from both parties, the rights of the parties are identified, payment terms are identified, the contract has commercial substance and collectability of consideration is probable. Revenue is recognized when performance obligations under the terms of a contract with a customer of the Company are satisfied. Of the Company's revenue, approximately 85-90% is from short-term, fixed-price contracts and continues to be recognized as of a point in time when products are shipped from the Company's manufacturing facilities or at a later point in time when control of the products transfers to the customer. The Company recognizes approximately 10-15% of revenue over time for services and certain sales of customer-specific product as it satisfies the performance obligations because of the continuous transfer of control to the customer, supported as follows: • For certain service contracts, this continuous transfer of control to the customer occurs as the Company's service enhances assets that the customer owns and controls at all times and the Company is contractually entitled to payment for work performed to date plus a reasonable margin. • For U.S. government contracts, the customer is allowed to unilaterally terminate the contract for convenience, and is required to pay the Company for costs incurred plus a reasonable margin and can take control of any work in process. • For certain non-U.S. government contracts involving customer-specific products, the customer controls the work in process based on contractual termination clauses or restrictions on the Company's use of the product and the Company possesses a right to payment for work performed to date plus a reasonable margin. As a result of control transferring over time for these products and services, revenue is recognized based on progress toward completion of the performance obligation. The selection of the method to measure progress towards completion requires judgment and is based on the nature of the products or services to be provided. The Company has elected to use the cost-to-cost input measure of progress for these contracts because it best depicts the transfer of goods or services to the customer based on incurring costs on the contracts. Under the cost-to-cost measure of progress, the extent of progress towards completion is measured based on the ratio of costs incurred to date to the total estimated costs at completion of the performance obligation. Revenues are recorded proportionally as costs are incurred. The pricing and payment terms for non-U.S. government contracts are based on the Company's standard terms and conditions or the result of specific negotiations with each customer. The Company's standard terms and conditions require payment 45-75 days from the invoice date, but the timing of payment for specific negotiated terms may vary. The Company also has both prime and subcontracts in support of the provision of goods and services to the U.S. government. Certain of these contracts are subject to the Federal Acquisition Regulation ("FAR") and are priced based on a competitive market prices. Under the payment terms of certain of those U.S. government fixed-price contracts, the customer pays the Company performance-based payments, which are interim payments of up to 90% of the costs incurred to date based on quantifiable measures of performance or on the achievement of specified events or milestones. Because the customer retains a portion of the contract price until completion of such contracts, certain of these U.S. government fixed-price contracts result in revenue recognized in excess of billings, which is presented within "Unbilled Receivables" on the Consolidated Balance Sheet. The portion of the payments retained by the customer until final contract settlement is not considered a significant financing component because the intent is to protect the customer. Note 1 - Significant Accounting Policies (continued) Revenue is measured as the amount of consideration the Company expects to receive in exchange for transferring goods or providing services. Sales, value add, and other taxes the Company collects concurrent with revenue-producing activities are excluded from revenue. As a practical expedient, the Company may exclude an assessment of whether promised goods or services are performance obligations, if such promised goods and services are immaterial to the customer contract taken as a whole, and combine these with other performance obligations. The Company has also elected not to adjust the promised amount of consideration for the effects of any significant financing component where the Company expects, at contract inception, that the period between when the Company transfers a promised good or service to a customer and when the customer pays for that good or service will be one year or less. Finally, the Company's policy is to exclude performance obligations resulting from contracts with a duration of one year or less from its disclosures related to remaining performance obligations. The amount of consideration to which the Company expects to be entitled in exchange for the goods and services is not generally subject to significant variations. However, the Company does offer certain customers rebates, prompt payment discounts, end-user discounts, the right to return eligible products, and/or other forms of variable consideration. The Company estimates this variable consideration using the expected value amount, which is based on historical experience. The Company includes estimated amounts in the transaction price to the extent it is probable that a significant reversal of cumulative revenue recognized will not occur when the uncertainty associated with the variable consideration is resolved. The Company adjusts the estimate of revenue at the earlier of when the amount of consideration the Company expects to receive changes or when the consideration becomes fixed. The Company recognizes the cost of freight and shipping when control of the products or services has transferred to the customer as an expense in "Cost of products sold" on the Consolidated Statement of Income, because those are costs incurred to fulfill the promise recognized, not a separate performance obligation. To the extent certain freight and shipping fees are charged to customers, the Company recognizes the amounts charged to customers as revenues and the related costs as an expense in "Cost of products sold" when control of the related products or services has transferred to the customer. Contracts are occasionally modified to account for changes in contract specifications, requirements, and pricing. The Company considers contract modifications to exist when the modification either creates new enforceable rights and obligations or changes existing ones. Substantially all of the Company's contract modifications are for goods or services that are distinct from the existing contract. Therefore, the effect of a contract modification on the transaction price and the Company's measure of progress for the performance obligation to which it relates is generally recognized on a prospective basis. Cash Equivalents: The Company considers all highly liquid investments with a maturity of three months or less when purchased to be cash equivalents. Restricted Cash: Cash of $0.8 million and $6.7 million at December 31, 2020 and 2019, respectively, was restricted for contractually specified uses. The decrease was primarily due to the release of the Company's contractual cash hold-back for working capital adjustment as part of the BEKA acquisition. Accounts Receivable, Less Allowances: Accounts receivable, less allowances on the Consolidated Balance Sheet include amounts billed and currently due from customers. The amounts due are stated at their net estimated realizable value. The Company maintains an allowance for doubtful accounts, which represents an estimate of the losses expected from the accounts receivable portfolio, to reduce accounts receivable to their net realizable value. The allowance is based upon historical trends in collections and write-offs, management's judgment of the probability of collecting accounts and management's evaluation of business risk. The Company extends credit to customers satisfying pre-defined credit criteria. The Company believes it has limited concentration of credit risk due to the diversity of its customer base. Note 1 - Significant Accounting Policies (continued) Unbilled Receivables: Unbilled receivables on the Consolidated Balance Sheet primarily include unbilled amounts typically resulting from sales under long-term contracts when the following conditions exist: (i) cost-to-cost method of revenue recognition is utilized; (ii) the revenue recognized exceeds the amount billed to the customer; and (iii) the right to payment is primarily subject only to the passage of time. The amounts recorded for unbilled receivables do not exceed their net realizable value. Inventories: Inventories are valued at the lower of cost or net realizable value, with approximately 61% valued by the FIFO method and the remaining 39% valued by the LIFO method. The majority of the Company’s domestic inventories are valued by the LIFO method, while all of the Company’s international inventories are valued by the FIFO method. Investments: Short-term investments are investments with maturities between three months and one year and are valued at amortized cost, which approximates fair value. The Company held short-term investments as of December 31, 2020 and 2019 with a fair value and cost basis of $37.6 million and $25.7 million, respectively, which were included in "Other current assets" on the Consolidated Balance Sheets. Property, Plant and Equipment: Property, plant and equipment, net on the Consolidated Balance Sheets is valued at cost less accumulated depreciation. Maintenance and repairs are charged to expense as incurred. The provision for depreciation is computed by the straight-line method based upon the estimated useful lives of the assets. The useful lives are approximately 30 years for buildings, 3 to 10 years for computer software and 3 to 20 years for machinery and equipment. The impairment of long-lived assets is evaluated when events or changes in circumstances indicate that the carrying amount of the asset or related group of assets may not be recoverable. If the expected future undiscounted cash flows are less than the carrying amount of the asset, an impairment loss is recognized at that time to reduce the asset to the lower of its fair value or its net book value. Leases: The Company determines if any arrangement is a lease at the inception of a contract. For leases where the Company is the lessee, it recognizes lease assets and related lease liabilities at the lease commencement date based on the present value of lease payments over the lease term. Most of the Company’s leases do not provide an implicit interest rate. As a result, the Company uses its incremental borrowing rate based on the information available at the commencement date in determining the present value of lease payments. The lease assets also consist of amounts for favorable or unfavorable lease terms related to acquisitions. Lease expense for operating leases is recognized on a straight-line basis over the lease term as an operating expense while the expense for finance leases is recognized as depreciation expense and interest expense using the accelerated interest method of recognition. A lease asset and lease liability are not recorded for leases with an initial term of less than 12 months or less and the lease expenses related to these leases is recognized as incurred over the lease term. Goodwill and Other Intangible Assets: Intangible assets subject to amortization are amortized on a straight-line method over their legal or estimated useful lives, with useful lives ranging from 1 to 20 years. Goodwill and indefinite-lived intangible assets not subject to amortization are tested for impairment at least annually. The Company performs its annual impairment test as of October 1st. Furthermore, goodwill and intangible assets are reviewed for impairment whenever events or changes in circumstances indicate that the carrying values may not be recoverable in accordance with accounting rules related to goodwill and other intangible assets. Note 1 - Significant Accounting Policies (continued) Purchase accounting and business combinations: Assets acquired and the liabilities assumed as part of a business combination are recognized at their acquisition date fair values. Goodwill as of the acquisition date is measured as the excess of consideration transferred over the net of the acquisition date fair values of the assets acquired and the liabilities assumed. The Company considers inputs to value the assets and liabilities by taking into account competitive trends, market comparisons, independent appraisals, and historical data, among other factors, as supplemented by current and anticipated market conditions. The valuation inputs in these analyses are based on market participant assumptions. The Company may refine these estimates and record adjustments to an asset or liability with the offset to goodwill during the measurement period, which may be up to one year from the acquisition date. Upon the conclusion of the measurement period or final determination of the values of the assets acquired or liabilities assumed, whichever comes first, any subsequent adjustments are recorded in the Company’s Consolidated Statements of Income. Product Warranties: The Company provides limited warranties on certain of its products. The Company accrues liabilities for warranties generally based upon specific claims and in certain instances based on historical warranty claim experience in accordance with accounting rules relating to contingent liabilities. When the Company becomes aware of a specific potential warranty claim for which liability is probable and reasonably estimable, a specific charge is recorded and accounted for accordingly. Adjustments are made quarterly to the accruals as claim data and historical experience change. Income Taxes: The Company accounts for income taxes in accordance with ASC 740, “Income Taxes.” Deferred tax assets and liabilities are recorded for the future tax consequences attributable to differences between financial statement carrying amounts of existing assets and liabilities and their respective tax bases, as well as net operating loss and tax credit carryforwards. The Company recognizes valuation allowances against deferred tax assets by tax jurisdiction when it is more likely than not those assets will not be realized. Accruals for uncertain tax positions are provided for in accordance with ASC 740-10. The Company recognizes interest and penalties related to uncertain tax positions as a component of income tax expense. Foreign Currency: Assets and liabilities of subsidiaries are translated at the rate of exchange in effect on the balance sheet date; income and expenses are translated at the average rates of exchange prevailing during the reporting period. Translation adjustments for assets and liabilities are reflected as a separate component of accumulated other comprehensive loss. Foreign currency gains and losses resulting from transactions are included in the Consolidated Statements of Income. Net of related derivative activity, the Company recognized a foreign currency exchange loss resulting from transactions of $10.0 million for the year ended December 31, 2020, and recognized a gain of $6.1 million and a gain of $3.6 million for the years ended December 31, 2019 and 2018, respectively. Pension and Other Postretirement Benefits: The Company recognizes actuarial gains and losses immediately through net periodic benefit cost upon the annual remeasurement in the fourth quarter, or on an interim basis if specific events trigger a remeasurement. Actuarial gains and losses are excluded from segment results, while all other components of net periodic benefit cost will continue to be included within segment results. Stock-Based Compensation: The Company recognizes stock-based compensation expense over the related vesting period of the awards based on the fair value on the grant date. Stock options are issued with an exercise price equal to the opening market price of Timken common shares on the date of grant. The fair value of stock options is determined using a Black-Scholes option pricing model, which incorporates assumptions regarding the expected volatility, the expected option life, the risk-free interest rate and the expected dividend yield. The fair value of stock-based awards that will settle in Timken common shares, other than stock options, is based on the opening market price of Timken common shares on the grant date. The fair value of stock-based awards that will settle in cash are remeasured at each reporting period until settlement of the awards. The Company recognizes forfeitures on stock-based awards as they occur. In addition, the Company’s share grants provide for the payment of dividends to employees and the Board of Directors upon vesting. These dividends are charged to retained earnings when paid. Note 1 - Significant Accounting Policies (continued) Earnings Per Share: Certain unvested restricted share grants provide for the payment of nonforfeitable dividends. The Company considers these awards as participating securities. Earnings per share are computed using the two-class method. Basic earnings per share are computed by dividing net income less undistributed earnings allocated to unvested restricted shares by the weighted-average number of common shares outstanding during the year. Diluted earnings per share are computed by dividing net income less undistributed earnings allocated to unvested restricted shares by the weighted-average number of common shares outstanding, adjusted for the dilutive impact of outstanding stock-based awards. Derivative Instruments: The Company recognizes all derivatives on the Consolidated Balance Sheets at fair value. Derivatives that are not designated as hedges are adjusted to fair value through earnings. If the derivative is designated and qualifies as a hedge, depending on the nature of the hedge, changes in the fair value of the derivatives are either offset against the change in fair value of the hedged assets, liabilities or firm commitments through earnings or recognized in accumulated other comprehensive loss until the hedged item is recognized in earnings. The Company’s holdings of forward foreign currency exchange contracts qualify as derivatives pursuant to the criteria established in derivative accounting guidance, and the Company has designated certain of those derivatives as hedges. Use of Estimates: The preparation of consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the amounts reported in the consolidated financial statements and accompanying notes. Because actual results could differ from these estimates, the Company reviews and updates these estimates and assumptions regularly to reflect recent experience. Recent Accounting Pronouncements: New Accounting Guidance Adopted: In June 2016, the FASB issued Accounting Standards Update ("ASU") 2016-13, "Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments," and was subsequently updated with ASU 2019-04 in April of 2019. These ASUs change how entities will measure credit losses for most financial assets and certain other instruments that are not measured at fair value through net income. The new guidance replaced the current incurred loss approach with an expected loss model. The new expected credit loss impairment model applies to most financial assets measured at amortized cost and certain other instruments, including trade and other receivables, loans, held-to-maturity debt instruments, net investments in leases, loan commitments and standby letters of credit. Upon initial recognition of the exposure, the expected credit loss model requires entities to estimate the credit losses expected over the life of an exposure (or pool of exposures). The estimate of expected credit losses should consider historical information, current information and reasonable and supportable forecasts, including estimates of prepayments. Financial instruments with similar risk characteristics should be grouped together when estimating expected credit losses. ASU 2016-13 does not prescribe a specific method to make the estimate, so its application requires significant judgment. ASU 2016-13 was effective for public companies in fiscal years beginning after December 15, 2019, including interim periods within those fiscal years. The Company adopted ASU 2016-13 effective January 1, 2020, and the impact of adoption was not material to the Company's results of operations and financial condition. Refer to the Consolidated Statements of Shareholders’ Equity for the cumulative effect of initially applying ASU 2016-13. Note 1 - Significant Accounting Policies (continued) New Accounting Guidance Issued and Not Yet Adopted: In March 2020, the FASB issued ASU 2020-04, "Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting." This guidance is intended to provide temporary optional expedients and exceptions to the U.S. GAAP guidance on contract modifications and hedge accounting to ease the financial reporting burden related to the expected market transition from the London Interbank Offered Rate (LIBOR) and other interbank offered rates to alternative reference rates. This guidance is available immediately and may be implemented in any period prior to the guidance expiration on December 31, 2022. The Company is currently assessing which of its various contracts will require an update for a new reference rate, and will determine the timing for implementation of this guidance at the completion of that analysis.

Acquisitions

Acquisitions	12 Months Ended
Acquisitions	Dec. 31, 2020
Business Combinations [Abstract]
Acquisitions	Note 2 - Acquisitions During 2019 the Company completed two acquisitions. On November 1, 2019, the Company completed the acquisition of BEKA, a leading global supplier of automatic lubrication systems. BEKA serves a diverse range of industrial sectors, including wind, food and beverage, rail, on- and off-highway and other process industries. Headquartered in Pegnitz, Germany, BEKA has manufacturing and research and development facilities in Germany, and assembly facilities and sales offices around the world. On April 1, 2019, the Company completed the acquisition of Diamond Chain, a leading supplier of high-performance roller chains for industrial markets. Diamond Chain serves a diverse range of market sectors, including industrial distribution, material handling, food and beverage, agriculture, construction and other process industries. Diamond Chain operates primarily in the U.S. and China. Note 2 - Acquisitions (continued) The purchase price allocations at fair value, net of cash acquired, for 2020 and 2019 acquisitions as of December 31, 2020 and 2019 are presented below: 2020 2019 Assets: Accounts receivable $ 2.7 $ 26.1 Inventories 16.4 59.4 Other current assets 0.1 5.1 Property, plant and equipment 10.9 57.4 Operating lease assets — 5.1 Goodwill — 52.6 Other intangible assets — 84.3 Other non-current assets — 0.9 Total assets acquired $ 30.1 $ 290.9 Liabilities: Accounts payable, trade $ 0.8 $ 10.6 Salaries, wages and benefits — 6.8 Income taxes payable — 2.1 Other current liabilities 0.9 7.1 Short-term debt — 0.8 Long-term debt — 17.2 Accrued pension cost — 0.8 Accrued postretirement liability — 0.1 Long-term operating lease liabilities — 4.5 Deferred taxes — 2.9 Other non-current liabilities — 1.1 Total liabilities assumed $ 1.7 $ 54.0 Noncontrolling interest acquired — 1.8 Net assets acquired $ 28.4 $ 235.1 Cash flow reconciling items: Working capital adjustment related to 2018 acquisitions paid in 2019 $ — $ 2.9 Working capital adjustment for 2019 acquisitions paid (recognized) in 2020 6.7 (6.7) Indemnification settlement received — (4.8) Bargain purchase price gain (11.1) — Cash paid for acquisitions, net of cash acquired $ 24.0 $ 226.5 In April 2020, the Company paid $6.7 million for a working capital adjustment to the purchase price for BEKA in accordance with the purchase agreement. This adjustment, as well as other measurement period adjustments recorded in 2020, resulted in an $8.4 million increase to goodwill. As a result of applying the accounting rules on business combinations, the Company recognized a bargain purchase gain of $11.1 million on the acquisition of Aurora. The Company believes it was able to negotiate a bargain purchase price for the business due to some historic operational performance challenges, as well as the seller’s desire to exit the business in an expedited manner in an exclusive process with the Company. In January 2019, the Company paid a working capital adjustment of $2.9 million in connection with the Cone Drive acquisition, which was accrued and reflected in the purchase price in 2018. In May 2019, the Company received a $4.8 million payment from escrow related to an indemnification settlement for the Cone Drive acquisition, which is reflected as a purchase price adjustment. These adjustments, as well as other measurement period adjustments recorded in 2019, resulted in a $1.9 million increase to Goodwill. Note 2 - Acquisitions (continued) The amounts for 2020 in the table above represent the preliminary purchase price allocations for Aurora. These purchase price allocations are based on preliminary information and are subject to change as additional information concerning final asset and liability valuations is obtained. The purchase price allocation for Aurora is preliminary as a result of the proximity of the acquisition date to December 31, 2020, and as a result, no elements of the purchase price allocation have been finalized. During the measurement period for this acquisition, the Company will adjust assets and liabilities if new information is obtained about facts and circumstances that existed as of the acquisition date that, if known, would have resulted in revised estimated values of those assets or liabilities as of that date. The effect of measurement period adjustments to the estimated fair values will be reflected as if the adjustments had been completed on the acquisition date. As a result of recognizing the bargain purchase price gain, any change will be reflected as an adjustment to pretax income. No intangible assets were acquired in 2020. The following table summarizes the purchase price allocation at fair value for identifiable intangible assets acquired in 2019: 2019 Weighted- Trade names (indefinite life) $ 28.2 Indefinite Technology and know-how 22.4 17 years Customer relationships 33.3 19 years Capitalized software 0.5 2 years Total intangible assets $ 84.4 The total acquired intangible asset amount for 2019 acquisitions does not fully align with the purchase price allocations shown previously due to measurement period adjustments reflected in the purchase price allocations.

Revenue

Revenue	12 Months Ended
Revenue	Dec. 31, 2020
Revenue from Contract with Customer [Abstract]
Revenue	Note 3 - Revenue The following table presents details deemed most relevant to the users of the financial statements about total revenue for the years ended December 31, 2020, 2019 and 2018: December 31, 2020 Mobile Process Total United States $ 853.8 $ 699.6 $ 1,553.4 Americas excluding United States 168.1 138.0 306.1 Europe / Middle East / Africa 389.9 457.0 846.9 China 102.2 421.0 523.2 Asia-Pacific excluding China 157.6 126.0 283.6 Net sales $ 1,671.6 $ 1,841.6 $ 3,513.2 December 31, 2019 Mobile Process Total United States $ 1,007.1 $ 821.0 $ 1,828.1 Americas excluding United States 209.6 167.7 377.3 Europe / Middle East / Africa 390.8 489.2 880.0 China 92.1 268.5 360.6 Asia-Pacific excluding China 194.3 149.6 343.9 Net sales $ 1,893.9 $ 1,896.0 $ 3,789.9 December 31, 2018 Mobile Process Total United States $ 1,028.8 $ 769.5 $ 1,798.3 Americas excluding United States 208.9 176.7 385.6 Europe / Middle East / Africa 382.5 380.2 762.7 China 95.4 218.4 313.8 Asia-Pacific excluding China 188.1 132.3 320.4 Net sales $ 1,903.7 $ 1,677.1 $ 3,580.8 When reviewing revenues by sales channel, the Company separates net sales to OEMs from sales to distributors and end users. The following table presents the percent of revenues by sales channel for the years ended December 31, 2020 and December 31, 2019: Revenue by sales channel December 31, 2020 December 31, 2019 Original equipment manufacturers 60% 56% Distribution/end users 40% 44% In addition to disaggregating revenue by segment and geography and by sales channel as shown above, the Company believes information about the timing of transfer of goods or services, type of customer and distinguishing service revenue from product sales is also relevant. During the years ended December 31, 2020 and December 31, 2019, approximatel y 11% and 12% , respectively, of total net sales were recognized on an over-time basis because of the continuous transfer of control to the customer, with the remainder recognized as of a point in time. Approximately 4% and 5% of total net sales represented service revenue in 2020 and 2019, respectively. Finally, the payment terms with the U.S. government or its contractors represented approximat ely 8% o f total net sales for 2020 and 2019, respectively. Note 3 - Revenue (continued) Remaining Performance Obligations: Remaining performance obligations represent the transaction price of orders meeting the definition of a contract in the new revenue standard for which work has not been performed and excludes unexercised contract options. Performance obligations having a duration of more than one year are concentrated in contracts for certain products and services provided to the U.S. government or its contractors. The aggregate amount of the transaction price allocated to remaining performance obligations for such contracts with a duration of more than one year was approximately $224.3 million at December 31, 2020. Unbilled Receivables: The following table contains a rollforward of unbilled receivables for the year ended December 31, 2020: December 31, Beginning balance, January 1 $ 129.2 Additional unbilled revenue recognized 393.6 Less: amounts billed to customers (411.9) Ending balance $ 110.9 There were no impairment losses recorded on unbilled receivables for the year ended December 31, 2020.

Segment Information

Segment Information	12 Months Ended
Segment Information	Dec. 31, 2020
Segment Reporting [Abstract]
Segment Information	Note 4 - Segment Information The Company operates under two reportable segments: (1) Mobile Industries and (2) Process Industries. Description of types of products and services from which each reportable segment derives its revenues: The Company ' s reportable segments are business units that target different industry sectors. While the segments often operate using a shared infrastructure, each reportable segment is managed to address specific customer needs in these diverse market segments. Mobile Industries offers an extensive portfolio of bearings, seals, lubrication devices and systems, as well as power transmission components, engineered chain, augers, belts, couplings, clutches, brakes and related products and maintenance services, to OEMs and end users of: off-highway equipment for the agricultural, construction, mining, outdoor power equipment and powersports markets; on-highway vehicles including passenger cars, light trucks and medium- and heavy-duty trucks; rail cars and locomotives. Beyond service parts sold to OEMs, aftermarket sales and services to individual end users, equipment owners, operators and maintenance shops are handled directly or through the Company's extensive network of authorized automotive and heavy-truck distributors, and include hub units, specialty kits and more. Mobile Industries also provides power transmission systems and flight-critical components for civil and military aircraft, which include bearings, helicopter transmission systems, rotor-head assemblies, turbine engine components, gears and housings. Process Industries supplies industrial bearings and assemblies, power transmission components such as gears and gearboxes, linear motion products, couplings, seals, lubricants, chains, belts and related products and services to OEMs and end users in industries that place heavy demands on operating equipment they make or use. This includes: metals, mining, cement and aggregate production; wind energy and solar; coal power generation and oil and gas; pulp and paper in applications including printing presses; packaging and automation; and cranes, hoists, drawbridges, gear drives, conveyors, health and critical motion control equipment, marine equipment and food processing equipment. This segment also supports aftermarket sales and service needs through its global network of authorized industrial distributors and through the provision of services directly to end users. In addition, the Company’s industrial services group offers end users a broad portfolio of maintenance support and capabilities that include repair and service for bearings and gearboxes as well as electric motor rewind, repair and services. Note 4 - Segment Information (continued) Measurement of segment profit or loss and segment assets: The Company evaluates performance and allocates resources based on return on capital and profitable growth. The primary measurement used by management to measure the financial performance of each segment is EBITDA. The accounting policies of the reportable segments are the same as those described in the summary of significant accounting policies. Factors used by management to identify the enterprise’s reportable segments: Net sales by geographic area are reported by the destination of net sales, which is reflective of how the Company operates its segments. Long-lived assets by geographic area are reported by the location of the subsidiary. Timken’s non-U.S. operations are subject to normal international business risks not generally applicable to a domestic business. These risks include currency fluctuation, changes in tariff restrictions, difficulties in establishing and maintaining relationships with local distributors and dealers, import and export licensing requirements, difficulties in staffing and managing geographically diverse operations and restrictive regulations by foreign governments, including price and exchange controls, compliance with a variety of foreign laws and regulations, including unexpected changes in taxation and environmental regulatory requirements, and disadvantages of competing against companies from countries that are not subject to U.S. laws and regulations, including the FCPA. Business Segment Information: The following tables provide segment financial information and a reconciliation of segment results to consolidated results: 2020 2019 2018 Net sales to external customers: Mobile Industries $ 1,671.6 $ 1,893.9 $ 1,903.7 Process Industries 1,841.6 1,896.0 1,677.1 $ 3,513.2 $ 3,789.9 $ 3,580.8 Segment EBITDA: Mobile Industries $ 232.5 $ 284.9 $ 272.2 Process Industries 442.9 466.6 405.7 Total EBITDA, for reportable segments $ 675.4 $ 751.5 $ 677.9 Corporate EBITDA (40.7) (55.4) (61.4) Corporate pension and other postretirement benefit related (expense) income (1) (18.5) 4.1 (12.8) Acquisition-related gain (2) 11.1 — — Depreciation and amortization (167.1) (160.6) (146.0) Interest expense, net (63.9) (67.2) (49.6) Income before income taxes $ 396.3 $ 472.4 $ 408.1 (1) Corporate pension and other postretirement benefit related (expense) income represents curtailments, professional fees associated with pension de-risking and actuarial (losses) and gains that resulted from the remeasurement of pension and other postretirement plan assets and obligations as a result of changes in assumptions. (2) The acquisition-related gain represents a bargain purchase price gain on the acquisition of Aurora, acquired on November 30, 2020. See Note 2 - Acquisitions for additional information. 2020 2019 Assets employed at year-end: Mobile Industries $ 2,082.2 $ 2,109.9 Process Industries 2,482.6 2,366.7 Corporate (2) 476.8 383.3 $ 5,041.6 $ 4,859.9 (2) Corporate assets include corporate buildings and cash and cash equivalents. Note 4 - Segment Information (continued) 2020 2019 2018 Capital expenditures: Mobile Industries $ 70.5 $ 74.2 $ 48.3 Process Industries 50.1 65.3 63.3 Corporate 1.0 1.1 1.0 $ 121.6 $ 140.6 $ 112.6 Depreciation and amortization: Mobile Industries $ 79.7 $ 73.6 $ 73.5 Process Industries 86.6 86.2 71.9 Corporate 0.8 0.8 0.6 $ 167.1 $ 160.6 $ 146.0 Geographic Financial Information: 2020 2019 Property, Plant and Equipment, net: United States $ 401.8 $ 391.7 China 196.4 183.4 India 140.0 132.6 Romania 118.0 105.3 Rest of world 179.4 176.2 $ 1,035.6 $ 989.2 Refer to Note 3 - Revenue for further information pertaining to geographic net sales information.

Income Taxes

Income Taxes	12 Months Ended
Income Taxes	Dec. 31, 2020
Income Tax Disclosure [Abstract]
Income Taxes	Note 5 - Income Taxes Income before income taxes, based on geographic location of the operations to which such earnings are attributable, is provided below. As the Company has elected to treat certain foreign subsidiaries as branches for U.S. income tax purposes, pretax income attributable to the United States shown below may differ from the pretax income reported in the Company’s annual U.S. federal income tax return. Income before income taxes: 2020 2019 2018 United States $ 144.1 $ 190.7 $ 202.0 Non-United States 252.2 281.7 206.1 Income before income taxes $ 396.3 $ 472.4 $ 408.1 The provision for income taxes consisted of the following: 2020 2019 2018 Current: Federal $ 40.3 $ 20.8 $ 46.1 State and local 7.9 4.8 9.9 Foreign 78.9 81.0 68.0 $ 127.1 $ 106.6 $ 124.0 Deferred: Federal $ (19.5) $ 39.8 $ (19.9) State and local (1.3) 6.5 (0.7) Foreign (2.4) (55.2) (0.8) $ (23.2) $ (8.9) $ (21.4) United States and foreign tax provision on income $ 103.9 $ 97.7 $ 102.6 The Company made net income tax payments of $119.3 million , $118.6 million and $121.3 million in 2020, 2019 and 2018, respectively. The following table is the reconciliation between the provision for income taxes and the amount computed by applying the U.S. federal income tax rat e of 21% to income before taxes: 2020 2019 2018 Income tax at the U.S. federal statutory rate $ 83.2 $ 99.2 $ 85.7 Adjustments: State and local income taxes, net of federal tax benefit 4.8 7.4 6.8 Tax on foreign remittances and U.S. tax on foreign income 22.5 26.4 21.1 Tax expense related to undistributed earnings of foreign subsidiaries 0.1 6.0 — Foreign losses without current tax benefits 2.5 3.2 3.7 Foreign earnings taxed at different rates including tax holidays 11.1 12.6 11.1 U.S. foreign tax credit (13.8) (18.3) (21.2) Accruals and settlements related to tax audits 3.4 11.1 (3.8) Valuation allowance changes (0.7) (44.5) — Deferred taxes related to branch operations — 5.3 — U.S. Tax Reform — — (10.6) Other tax rate change 0.8 (5.0) (2.4) Other items, net (10.0) (5.7) 12.2 Provision for income taxes $ 103.9 $ 97.7 $ 102.6 Effective income tax rate 26.2 % 20.7 % 25.1 % Note 5 - Income Taxes (continued) The Company released $44.5 million of foreign valuation allowances for the year ended December 31, 2019, $40.7 million of which relates to the valuation allowance that was recorded against German indefinite-lived loss carryforwards and pension deferred tax assets. Once established, the valuation allowance is released when, based on the weight of all available evidence, management concludes that related deferred tax assets are more likely than not to be realized. As a result of the execution of a tax planning strategy in the fourth quarter of 2019, management reached this conclusion and accordingly released the valuation allowance. Because the local German entity is treated as a branch under U.S. tax law, the valuation allowance release was partially offset by income tax expense of $5.3 million related to a U.S. deferred tax liability. U.S. Tax Reform reduced the U.S. federal statutory rate from 35% to 21% beginning in 2018. U.S. Tax Reform also required companies to pay a one-time net charge related to the taxation of unremitted foreign earnings and to remeasure its U.S. deferred tax balances to the lower corporate income tax rate for the 2017 tax year. Additionally, U.S. Tax Reform created taxes on certain foreign sourced earnings known as the global intangible low-taxed income (“GILTI”) tax beginning with tax year 2018. The Company has elected to account for GILTI as a period cost in the year the tax is incurred. The accounting for the tax effects of U.S. Tax Reform was completed as of December 31, 2018 under Staff Accounting Bulletin No. 118. For the year ended December 31, 2018, the Company recorded $8.2 million of tax benefit for changes to the provisional estimate for the remeasurement of net U.S. deferred tax balances as a result of adjustments to finalize purchase accounting for prior-year acquisitions, the remeasurement of anticipatory tax credits for foreign branches and changes to U.S. deferred tax assets included in the 2017 U.S. federal income tax return. Over the same period, the Company recorded $2.4 million of tax benefit for changes in the provisional estimate of the 2017 one-time net charge related to the taxation of unremitted foreign earnings as a result of additional federal and state regulatory guidance issued and the filing of the Company's 2017 U.S. federal income tax return. There are no changes to the Company’s assertion about its permanent reinvestment in undistributed foreign earnings. The Company recorded $0.1 million and $6.0 million of income tax expense related to foreign withholding taxes on planned one-time distribution for the years ended December 31, 2020 and 2019, respectively . No additional deferred taxes have been recorded for any other outside basis differences as these amounts continue to be indefinitely reinvested in foreign operations. The amounts of undistributed foreign earnings were $810.3 million and $785.3 million at December 31, 2020 and December 31, 2019, respectively. It is not practicable to calculate the additional taxes that might be payable on such unremitted earnings due to the variety of circumstances and tax laws applicable at the time of distribution. The effect of temporary differences giving rise to deferred tax assets and liabilities at December 31, 2020 and 2019 was as follows: 2020 2019 Deferred tax assets: Accrued postretirement benefits cost $ 15.4 $ 0.1 Accrued pension cost 57.4 55.1 Other employee benefit accruals 11.0 10.9 Tax loss and credit carryforwards 90.2 86.0 Other, net 46.7 46.9 Valuation allowances (36.7) (33.7) $ 184.0 $ 165.3 Deferred tax liabilities - principally depreciation and amortization (255.7) (261.6) Net deferred tax (liabilities) assets $ (71.7) $ (96.3) Note 5 - Income Taxes (continued) The Company has U.S. federal and state tax credit and loss carryforwards with tax benefits totaling $6.7 million, portions of which will expire in 2021 and continue until 2040. In addition, the Company has loss carryforwards in various non-U.S. jurisdictions with tax benefits totaling $83.5 million, portions of which will expire in 2021 while others will be carried forward indefinitely. The Company has provided valuation allowances of $35.9 million against certain of these carryforwards and $0.8 million against other deferred tax assets. A majority of the non-U.S. loss carryforwards represent local country net operating losses for branches of the Company or entities treated as branches of the Company under U.S. tax law for which deferred taxes have been recorded. As of December 31, 2020, the Company had $45.6 million of total gross unrecognized tax benefits, $39.2 million of which would favorably impact the Company’s effective income tax rate in any future period if such benefits were recognized. As of December 31, 2020, the Company believes it is reasonably possible that the amount of unrecognized tax positions could decrease by approximately $8.4 million during the next 12 months. The potential decrease would be primarily driven by settlements with tax authorities and the expiration of various applicable statutes of limitation. As of December 31, 2020, the Company had accrued $8.6 million of interest and penalties related to uncertain tax positions. The Company records interest and penalties related to uncertain tax positions as a component of income tax expense. As of December 31, 2019, the Company had $38.9 million of total gross unrecognized tax benefits, $36.1 million of which would favorably impact the Company’s effective income tax rate in any future period if such benefits were recognized. As of December 31, 2019, the Company had accrued $5.0 million of interest and penalties related to uncertain tax positions. The Company records interest and penalties related to uncertain tax positions as a component of income tax expense. As of December 31, 2018, the Company had $26.0 million of total gross unrecognized tax benefits, all of which would favorably impact the Company’s effective income tax rate in any future period if such benefits were recognized. As of December 31, 2018, the Company had accrued $2.5 million of interest and penalties related to uncertain tax positions. The Company records interest and penalties related to uncertain tax positions as a component of income tax expense. The following table reconciles the Company’s total gross unrecognized tax benefits for the years ended December 31, 2020, 2019 and 2018: 2020 2019 2018 Beginning balance, January 1 $ 38.9 $ 26.0 $ 14.0 Tax positions related to the current year: Additions 2.2 3.6 0.4 Tax positions related to prior years: Additions 8.7 11.7 17.8 Reductions (1.0) (1.1) (2.9) Settlements with tax authorities (0.3) (1.2) (2.2) Lapses in statutes of limitation (2.9) (0.1) (1.1) Ending balance, December 31 $ 45.6 $ 38.9 $ 26.0 During 2020, gross unrecognized tax benefits increased primarily for additional accruals for uncertain tax positions related to non-U.S. transfer pricing along with prior year tax matters in multiple jurisdictions related to previous acquisitions and non-deductible expenses. These increases were partially offset by releases of accrual for lapses in statutes of limitations. Note 5 - Income Taxes (continued) During 2019, gross unrecognized tax benefits increased primarily for additional accruals for uncertain tax positions related to U.S. Tax Reform along with prior year tax matters in multiple jurisdictions related to acquisitions. These increases were partially offset by settlements with the tax authorities for prior year tax matters related to the Company’s foreign operations. During 2018, gross unrecognized tax benefits increased primarily for prior year tax matters in multiple jurisdictions related to acquisitions. These increases were partially offset by settlements with the tax authorities for prior year tax matters related to the Company’s international operations. As of December 31, 2020 the Company is subject to examination by the IRS for tax years 2017 to the present. The Company also is subject to tax examination in various U.S. state and local tax jurisdictions for tax years 2013 to the present, as well as various foreign tax jurisdictions, including Mexico, China, Poland, France, Germany and India for tax years as early as 1999 to the present . The Company’s unrecognized tax benefits were presented on the Consolidated Balance Sheets as a component of other non-current liabilities and as a reduction to deferred income taxes.

Earnings Per Share

Earnings Per Share	12 Months Ended
Earnings Per Share	Dec. 31, 2020
Earnings Per Share [Abstract]
Earnings Per Share	Note 6 - Earnings Per Share The following table sets forth the reconciliation of the numerator and the denominator of basic earnings per share and diluted earnings per share for the years ended December 31, 2020, 2019 and 2018: 2020 2019 2018 Numerator: Net income attributable to The Timken Company $ 284.5 $ 362.1 $ 302.8 Less: undistributed earnings allocated to nonvested stock — — — Net income available to common shareholders for basic and diluted earnings per share $ 284.5 $ 362.1 $ 302.8 Denominator: Weighted average number of shares outstanding - basic 75,354,280 75,758,123 77,119,602 Effect of dilutive securities: Stock options and awards - based on the treasury stock method 1,047,086 1,138,442 1,217,879 Weighted average number of shares outstanding, assuming dilution of stock options and awards 76,401,366 76,896,565 78,337,481 Basic earnings per share $ 3.78 $ 4.78 $ 3.93 Diluted earnings per share $ 3.72 $ 4.71 $ 3.86 The exercise prices for certain stock options that the Company has awarded exceed the average market price of the Company’s common shares. Such stock options are antidilutive and were not included in the computation of diluted earnings per share. The antidilutive stock options outstanding were 676,627, 1,016,435 and 1,139,146 during 2020, 2019 and 2018, respectively.

Inventories

Inventories	12 Months Ended
Inventories	Dec. 31, 2020
Inventory Disclosure [Abstract]
Inventories	Note 7 - Inventories The components of inventories at December 31, 2020 and 2019 were as follows: 2020 2019 Manufacturing supplies $ 34.8 $ 34.2 Raw materials 99.5 100.0 Work in process 320.3 308.9 Finished products 441.2 439.0 Subtotal $ 895.8 $ 882.1 Allowance for surplus and obsolete inventory (54.5) (40.1) Total Inventories, net $ 841.3 $ 842.0 Inventories at December 31, 2020 valued on the FIFO cost method were 61% and the remaining 39% were valued by the LIFO method. If all inventories had been valued at FIFO, inventories would have been $172.1 million and $168.9 million greater at December 31, 2020 and 2019, respectively. The Company recognized an increase in its LIFO reserve of $3.2 million during 2020, compared to a decrease in its LIFO reserve of $5.0 million during 2019. Inventory and the allowance for surplus and obsolete inventory increased from 2019 primarily as a result of recent acquisitions.

Property, Plant and Equipment

Property, Plant and Equipment	12 Months Ended
Property, Plant and Equipment	Dec. 31, 2020
Property, Plant and Equipment [Abstract]
Property, Plant and Equipment	Note 8 - Property, Plant and Equipment The components of property, plant and equipment, net at December 31, 2020 and 2019 were as follows: 2020 2019 Land and buildings $ 535.3 $ 510.9 Machinery and equipment 2,206.2 2,093.3 Subtotal $ 2,741.5 $ 2,604.2 Less: accumulated depreciation (1,705.9) (1,615.0) Property, Plant and Equipment, net $ 1,035.6 $ 989.2

Goodwill and Other Intangible A

Goodwill and Other Intangible Assets	12 Months Ended
Goodwill and Other Intangible Assets	Dec. 31, 2020
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Other Intangible Assets	Note 9 - Goodwill and Other Intangible Assets Goodwill: The Company tests goodwill and indefinite-lived intangible assets for impairment at least annually, performing its annual impairment test as of October 1st. Furthermore, goodwill and indefinite-lived intangible assets are reviewed for impairment whenever events or changes in circumstances indicate that the carrying value may not be recoverable. The Company reviews goodwill for impairment at the reporting unit level. The Mobile Industries segment has four reporting units and the Process Industries segment has two reporting units. Changes in the carrying value of goodwill were as follows: Year ended December 31, 2020: Mobile Industries Process Total Beginning Balance $ 361.3 $ 632.4 $ 993.7 Acquisitions 5.6 2.8 8.4 Foreign currency translation adjustments 17.7 27.8 45.5 Ending Balance $ 384.6 $ 663.0 $ 1,047.6 The $8.4 million addition from acquisitions was the result of measurement period adjustments related to the 2019 acquisitions of BEKA and Diamond Chain bringing total goodwill to $52.6 million for these acquisitions. Approximately $19.0 million of this amount is tax deductible. Refer to Note 2 - Acquisitions for further information. Year ended December 31, 2019: Mobile Industries Process Total Beginning Balance $ 349.7 $ 610.8 $ 960.5 Acquisitions 18.2 27.9 46.1 Foreign currency translation adjustments and other changes (6.6) (6.3) (12.9) Ending Balance $ 361.3 $ 632.4 $ 993.7 In 2019, the $46.1 million addition resulted from the acquisitions of BEKA and Diamond Chain and the measurement period adjustments of $1.9 million recorded in 2019 for 2018 acquisitions. No material goodwill impairment losses were recorded in 2020, 2019 or 2018. Note 9 - Goodwill and Other Intangible Assets (continued) Intangible Assets: The following table displays intangible assets as of December 31, 2020 and 2019: 2020 2019 Gross Accumulated Net Gross Accumulated Net Intangible assets subject Customer relationships $ 532.2 $ (161.9) $ 370.3 $ 510.9 $ (128.8) $ 382.1 Technology and know-how 277.2 (72.0) 205.2 265.1 (54.7) 210.4 Trade names 14.2 (8.8) 5.4 12.7 (6.1) 6.6 Capitalized Software 276.4 (254.6) 21.8 270.3 (245.8) 24.5 Other 4.7 (3.7) 1.0 13.8 (9.1) 4.7 $ 1,104.7 $ (501.0) $ 603.7 $ 1,072.8 $ (444.5) $ 628.3 Intangible assets not Trade names $ 129.0 $ 129.0 $ 121.5 $ 121.5 FAA air agency certificates 8.7 8.7 8.7 8.7 $ 137.7 $ 137.7 $ 130.2 $ 130.2 Total intangible assets $ 1,242.4 $ (501.0) $ 741.4 $ 1,203.0 $ (444.5) $ 758.5 There were no intangible assets acquired in 2020. Intangible assets acquired in 2019 totaled $84.4 million from the BEKA and Diamond Chain acquisitions. Intangible assets subject to amortization acquired in 2019 were assigned useful lives of two Amortization expense for intangible assets was $56.2 million, $57.3 million and $46.8 million for the years ended December 31, 2020, 2019 and 2018, respectively. Amortization expense for intangible assets is estimated to be approximately $54.2 million in 2021, $49.4 million in 2022, $46.2 million in 2023, $44.3 million in 2024 and $43.2 million in 2025.

Leasing

Leasing	12 Months Ended
Leasing	Dec. 31, 2020
Leases [Abstract]
Leasing	Note 10 - Leasing The Company enters into operating and finance leases for manufacturing facilities, warehouses, sales offices, information technology equipment, plant equipment, vehicles and certain other equipment. Lease expense for the years ended December 31, 2020 and 2019 was as follows: December 31, 2020 December 31, 2019 Operating lease expense $ 36.0 $ 36.6 Amortization of right-of-use assets on finance leases 1.5 1.2 Total lease expense $ 37.5 $ 37.8 The following tables present the impact of leasing on the Consolidated Balance Sheet. Operating Leases December 31, 2020 December 31, 2019 Lease assets: Operating lease assets $ 118.2 $ 114.1 Lease liabilities: Short-term operating lease liabilities $ 27.2 $ 28.3 Long-term operating lease liabilities 75.5 71.3 Total operating lease liabilities $ 102.7 $ 99.6 Finance Leases December 31, 2020 December 31, 2019 Lease assets: Property, plant and equipment, net $ 5.3 $ 5.0 Lease liabilities: Current portion of long-term debt $ 0.8 $ 0.5 Long-term debt 2.9 2.9 Total finance lease liabilities $ 3.7 $ 3.4 Future minimum lease payments under non-cancellable leases at December 31, 2020 were as follows: Operating Leases Finance Leases Year Ending December 31, 2021 $ 30.2 $ 1.5 2022 23.5 1.3 2023 16.0 0.6 2024 10.5 0.3 2025 8.6 0.1 Thereafter 24.7 — Total future minimum lease payments $ 113.5 $ 3.8 Less: imputed interest (10.8) (0.1) Total $ 102.7 $ 3.7 Note 10 - Leasing (continued) The following tables present other information related to leases: December 31, 2020 December 31, 2019 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 35.7 $ 35.6 Financing cash flows from finance leases 1.2 1.6 Lease assets added in the period: Operating leases $ 39.9 $ 58.6 Finance leases 0.9 2.0 December 31, 2020 December 31, 2019 Weighted-average remaining lease term: Operating leases 5.1 years 5.3 years Finance leases 2.9 years 3.3 years Weighted-average discount rate: Operating leases 3.69 % 3.87 % Finance leases 2.55 % 2.55 %
Leasing	Note 10 - Leasing The Company enters into operating and finance leases for manufacturing facilities, warehouses, sales offices, information technology equipment, plant equipment, vehicles and certain other equipment. Lease expense for the years ended December 31, 2020 and 2019 was as follows: December 31, 2020 December 31, 2019 Operating lease expense $ 36.0 $ 36.6 Amortization of right-of-use assets on finance leases 1.5 1.2 Total lease expense $ 37.5 $ 37.8 The following tables present the impact of leasing on the Consolidated Balance Sheet. Operating Leases December 31, 2020 December 31, 2019 Lease assets: Operating lease assets $ 118.2 $ 114.1 Lease liabilities: Short-term operating lease liabilities $ 27.2 $ 28.3 Long-term operating lease liabilities 75.5 71.3 Total operating lease liabilities $ 102.7 $ 99.6 Finance Leases December 31, 2020 December 31, 2019 Lease assets: Property, plant and equipment, net $ 5.3 $ 5.0 Lease liabilities: Current portion of long-term debt $ 0.8 $ 0.5 Long-term debt 2.9 2.9 Total finance lease liabilities $ 3.7 $ 3.4 Future minimum lease payments under non-cancellable leases at December 31, 2020 were as follows: Operating Leases Finance Leases Year Ending December 31, 2021 $ 30.2 $ 1.5 2022 23.5 1.3 2023 16.0 0.6 2024 10.5 0.3 2025 8.6 0.1 Thereafter 24.7 — Total future minimum lease payments $ 113.5 $ 3.8 Less: imputed interest (10.8) (0.1) Total $ 102.7 $ 3.7 Note 10 - Leasing (continued) The following tables present other information related to leases: December 31, 2020 December 31, 2019 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 35.7 $ 35.6 Financing cash flows from finance leases 1.2 1.6 Lease assets added in the period: Operating leases $ 39.9 $ 58.6 Finance leases 0.9 2.0 December 31, 2020 December 31, 2019 Weighted-average remaining lease term: Operating leases 5.1 years 5.3 years Finance leases 2.9 years 3.3 years Weighted-average discount rate: Operating leases 3.69 % 3.87 % Finance leases 2.55 % 2.55 %

Financing Arrangements

Financing Arrangements	12 Months Ended
Financing Arrangements	Dec. 31, 2020
Debt Disclosure [Abstract]
Financing Arrangements	Note 11 - Financing Arrangements Short-term debt as of December 31, 2020 and 2019 was as follows: 2020 2019 Variable-rate Accounts Receivable Facility with an interest rate of 0.96% at December 31, 2020 and of 2.77% at December 31, 2019 $ 58.0 $ 1.8 Borrowings under lines of credit for certain of the Company’s foreign subsidiaries with various banks with interest rates ranging from 0.24% to 1.75% at December 31, 2020 and 0.27% to 1.75% at December 31, 2019 61.8 15.5 Short-term debt $ 119.8 $ 17.3 The Company has a $100.0 million Accounts Receivable Facility, which matures November 30, 2021. The Company currently intends to renew or replace the Accounts Receivable Facility prior it its maturity. Under the terms of the Accounts Receivable Facility, the Company sells, on an ongoing basis, certain domestic trade receivables to Timken Receivables Corporation, a wholly owned consolidated subsidiary that, in turn, uses the trade receivables to secure borrowings that are funded through a vehicle that issues commercial paper in the short-term market. Borrowings under the Accounts Receivable Facility are limited to certain borrowing base limitations. These limitations reduced the availability of the Accounts Receivable Facility to $83.9 million at December 31, 2020. As of December 31, 2020, there were outstanding borrowings of $58.0 million under the Accounts Receivable Facility, which reduced the availability under this facility to $25.9 million. All of the outstanding borrowings under the Accounts Receivable Facility were classified as short-term due to its upcoming maturity in November of 2021. The cost of this facility, which is the prevailing commercial paper rate plus facility fees, is considered a financing cost and is included in interest expense in the Consolidated Statements of Income. The interest rate was 1.0%, 2.8% and 3.2% at December 31, 2020, 2019 and 2018, respectively. The lines of credit for certain of the Company’s foreign subsidiaries provide for short-term borrowings up to $277.4 million in the aggregate. Most of these lines of credit are uncommitted. At December 31, 2020, the Company’s foreign subsidiaries had borrowings outstanding of $61.8 million and guarantees of $0.7 million, which reduced the aggregate availability under these facilities to $214.9 million. The weighted-average interest rate on these lines of credit during the year were 0.6%, 0.5% and 0.6% in 2020 , 2019 and 2018, respectively. The increase in the weighted-average interest rate was primarily due to an increase in borrowings in Europe with higher rates. The weighted-average interest rate on lines of credit outstanding at December 31, 2020 and 2019 was 0.8% and 1.0%, respectively. Note 11 - Financing Arrangements (continued) Long-term debt as of December 31, 2020 and 2019 was as follows: 2020 2019 Variable-rate Senior Credit Facility with an average interest rate on U.S. Dollar of 2.01% and Euro of 1.48% at December 31, 2020 and 2.85% and 1.00%, respectively, at December 31, 2019 $ 9.7 $ 132.7 Variable-rate Euro Term Loan (1) , matured on September 18, 2020, with an interest rate of 1.13% at December 31, 2019. — 54.4 Variable-rate Accounts Receivable Facility, with an interest rate of 2.77% at December 31, 2019. — 98.2 Variable-rate Term Loan (1) , maturing on September 11, 2023, with an interest rate of 1.63% at December 31, 2020 and of 2.92% at December 31, 2019. 329.6 338.5 Fixed-rate Senior Unsecured Notes (1) , maturing on September 1, 2024, with an interest rate of 3.875% 349.0 348.5 Fixed-rate Euro Senior Unsecured Notes (1) , maturing on September 7, 2027, with an interest rate of 2.02% 182.9 167.7 Fixed-rate Senior Unsecured Notes (1) , maturing on December 15, 2028, with an interest rate of 4.50% 396.5 396.1 Fixed-rate Medium-Term Notes, Series A (1) , maturing at various dates through May 2028, with interest rates ranging from 6.74% to 7.76% 154.7 154.6 Fixed-rate Bank Loan, maturing on June 30, 2033, with an interest rate of 2.15% 18.8 18.0 Other 3.6 4.1 Total debt $ 1,444.8 $ 1,712.8 Less current maturities 10.9 64.7 Long-term debt $ 1,433.9 $ 1,648.1 (1) Net of discount and fees The Company entered into the Senior Credit Facility on June 25, 2019. The Senior Credit Facility amends and restates the Company's previous credit agreement, dated as of June 19, 2015. The Senior Credit Facility is a $650.0 million unsecured revolving credit facility, which matures on June 25, 2024. At December 31, 2020, the Company had $9.7 million of outstanding borrowings under the Senior Credit Facility, which reduced the availability under this facility to $640.3 million. The Senior Credit Facility has two financial covenants: a consolidated leverage ratio and a consolidated interest coverage ratio. On May 27, 2020, the Senior Credit Facility was amended to, among other things, effectively increase the limit with respect to the consolidated leverage ratio. As amended, the consolidated leverage ratio is calculated using a net debt construct, netting unrestricted cash in excess of $25 million, instead of total debt. This change to the consolidated leverage ratio calculation is effective through June 30, 2021, after which the calculation of the consolidated leverage ratio under the Senior Credit Facility will revert back to using a total debt construct. On November 1, 2019, the Company assumed certain fixed-rate debt of €16 million associated with the BEKA acquisition that matures on June 30, 2033. On September 11, 2018, the Company entered into the $350 million 2023 Term Loan. Proceeds from the 2023 Term Loan were used to fund the acquisitions of Cone Drive and Rollon, which closed on September 1, 2018 and September 18, 2018, respectively. On July 12, 2019, the Company amended the 2023 Term Loan agreement to, among other things, align covenants and other terms with the Senior Credit Facility. On May 27, 2020, the 2023 Term Loan agreement was further amended to align the calculation of the consolidated leverage ratio and other terms with the Senior Credit Facility. On September 18, 2017, the Company entered into the 2020 Term Loan, that matured on September 18, 2020. Upon the final payment during the third quarter of 2020, the Company fully repaid the 2020 Term Loan. At December 31, 2020, the Company was in full compliance with all applicable covenants on its outstanding debt. Note 11 - Financing Arrangements (continued) The maturities of long-term debt (including $3.7 million of finance leases) for the five years subsequent to December 31, 2020 are as follows: Year 2021 $ 10.9 2022 10.2 2023 10.2 2024 304.5 2025 360.0 Thereafter 749.0 Interest paid was $65.2 million in 2020, $67.4 million in 2019 and $42.5 million in 2018. This differs from interest expense due to the timing of payments, the amortization of deferred financing fees and interest capitalized of $1.5 million in 2020, $1.1 million in 2019 and $0.4 million in 2018.

Contingencies

Contingencies	12 Months Ended
Contingencies	Dec. 31, 2020
Commitments and Contingencies Disclosure [Abstract]
Contingencies	Note 12 - Contingencies The Company and certain of its subsidiaries have been identified as potentially responsible parties for investigation and remediation under the CERCLA, known as the Superfund, or similar state laws with respect to certain sites. Claims for investigation and remediation have been asserted against numerous other entities, which are believed to be financially solvent and are expected to fulfill their proportionate share of the obligation. On December 28, 2004, the United States Environmental Protection Agency (“USEPA”) sent Lovejoy, Inc. ("Lovejoy") a Special Notice Letter that identified Lovejoy as a potentially responsible party, together with at least 14 other companies, at the Ellsworth Industrial Park Site in Downers Grove, DuPage County, Illinois (the “Site”). The Company acquired Lovejoy in 2016. Lovejoy’s Downers Grove property is situated within the Ellsworth Industrial Complex. The USEPA and the Illinois Environmental Protection Agency (“IEPA”) allege there have been one or more releases or threatened releases of hazardous substances, allegedly including, but not limited to, a release or threatened release on or from Lovejoy's property, at the Site. The relief sought by the USEPA and IEPA includes further investigation and potential remediation of the Site and reimbursement of response costs. Lovejoy’s allocated share of past and future costs related to the Site, including for investigation and/or remediation, could be significant. All previously pending property damage and personal injury lawsuits against Lovejoy related to the Site have been settled or dismissed. The Company had total environmental accruals of $5.3 million and $5.2 million for various known environmental matters that are probable and reasonably estimable as of December 31, 2020 and 2019, respectively, which includes the Lovejoy matter discussed above. These accruals were recorded based upon the best estimate of costs to be incurred in light of the progress made in determining the magnitude of remediation costs, the timing and extent of remedial actions required by governmental authorities and the amount of the Company’s liability in proportion to other responsible parties. Product Warranties: In addition to the contingencies above, the Company provides limited warranties on certain products. The product warranty liability included in other current liabilities on t he Consolidated Balance Sheets for 2020 and 2019 was $9.4 million and $7.5 million, respectively. The increase in the liability during 2020 primarily relates to accruals that are based on the best estimate of costs for future claims based on products sold that are still under warranty. The estimate of these accruals is based on historical claims, expected trends and course of dealing experience that continue to mature. Any significant change to these assumptions may be material to the results of operations in any particular period in which that change occurs.

Stock Compensation

Stock Compensation	12 Months Ended
Stock Compensation	Dec. 31, 2020
Share-based Payment Arrangement [Abstract]
Stock Compensation	Note 13 - Stock Compensation Under its long-term incentive plan, the Company’s common shares have been made available for grant, at the discretion of the Compensation Committee of the Board of Directors, to officers and key employees in the form of stock option awards. Stock option awards typically have a ten-year term and generally vest in 25% increments annually beginning on the first anniversary of the date of grant. During 2020, 2019 and 2018, the Company recognized stock-based compensation expense of $3.6 million ($2.7 million after tax or $0.04 per diluted share), $4.9 million ($3.7 million after tax or $0.05 per diluted share) and $4.8 million ($3.7 million after tax or $0.05 per diluted share), respectively, for stock option awards. Beginning in 2020, the Company discontinued the use of nonqualified stock options. As such, there were no stock option awards granted in 2020. The fair value of stock option awards granted in 2019 and 2018 was estimated at the date of grant using a Black-Scholes option-pricing method with the following assumptions: 2019 2018 Weighted-average fair value per option $ 9.58 $ 10.29 Risk-free interest rate 2.46 % 2.62 % Dividend yield 2.52 % 2.30 % Expected stock volatility 28.29 % 27.78 % Expected life - years 5 5 Historical information was the primary basis for the selection of the expected dividend yield, expected volatility and the expected lives of the options. The dividend yield was calculated based upon the last dividend prior to the grant compared to the trailing 12 months' daily stock prices. The risk-free interest rate was based upon yields of U.S. zero coupon issues with a term equal to the expected life of the option being valued. A summary of stock option award activity for the year ended December 31, 2020 is presented below: Number of Shares Weighted-average Exercise Price Weighted-average Remaining Contractual Term Aggregate Intrinsic Value (millions) Outstanding - beginning of year 2,913,272 $ 40.10 Exercised (956,258) 39.07 Canceled of expired (52,265) 43.27 Outstanding - end of year 1,904,749 $ 40.53 7 years $ 70.1 Options expected to vest 1,904,749 40.53 7 years 70.1 Options exercisable 1,259,075 38.94 6 years 48.4 The total intrinsic value of stock option awards exercised during the years ended December 31, 2020, 2019 and 2018 was $20.7 million, $13.4 million and $6.7 million, respectively. Net cash proceeds from the exercise of stock option awards were $37.4 million, $27.5 million and $12.8 million, respectively. In addition to stock option awards, the Company has granted performance-based restricted stock units, time-based restricted stock units and deferred shares under its long-term incentive plan. A summary of those awards granted in 2020 is presented below: Expected to be Settled in Equity Expected to be Settled in Cash Total Awards Granted Performance-based restricted stock units 442,371 11,251 453,622 Time-based restricted stock units 204,550 4,480 209,030 Deferred shares 5,000 — 5,000 Note 13 - Stock Compensation (continued) Performance-based restricted stock units are calculated and awarded based on the achievement of specified performance objectives and cliff vest three years from the date of grant. Time-based restricted stock units generally vest in 25% increments annually beginning on the first anniversary of the grant. Deferred shares generally cliff vest five years from the date of grant. For time-based restricted stock units that are expected to settle in cash, the Company had $1.0 million and $1.1 million accrued in salaries, wages and benefits as of December 31, 2020 and 2019, respectively, on the Consolidated Balance Sheets. A summary of stock award activity, including performance-based restricted stock units, time-based restricted stock units and deferred shares that will settle in common shares for the year ended December 31, 2020 is as follows: Number of Shares Weighted-average Outstanding - beginning of year 1,106,386 $ 43.13 Granted - new awards 651,921 50.05 Vested (557,590) 43.76 Canceled or expired (75,245) 47.97 Outstanding - end of year 1,125,472 $ 46.50 As of December 31, 2020, a total of 1,125,472 stock award s have been awarded that have not yet vested. The Company distributed shares totaling 557,590 in 2020, 539,396 in 2019 and 290,287 in 2018 due to the vesting of stock awards. The grant date fair value of these vested shares was $24.4 million, $17.3 million and $11.8 million, respectively. The Company recognized compensation expense of $19.6 million, $22.3 million and $27.5 million for the years ended December 31, 2020, 2019 and 2018, respectively, relating to performance-based restricted stock units, time-based restricted stock units, deferred shares and restricted shares. As of December 31, 2020, the Company had unrecognized compensation expense of $22.5 million related to stock options and stock awards, which is expected to be recognized over a total weighted-average period of two years. There were 7.8 million shares available for future grants for all plans at December 31, 2020.

Impairment and Restructuring Ch

Impairment and Restructuring Charges	12 Months Ended
Impairment and Restructuring Charges	Dec. 31, 2020
Restructuring Charges [Abstract]
Impairment and Restructuring Charges	Note 14 - Impairment and Restructuring Charges Impairment and restructuring charges by segment were as follows: Year ended December 31, 2020: Mobile Process Unallocated Corporate Total Impairment charges $ 0.2 $ 0.2 $ — $ 0.4 Severance expense and related benefit costs 8.2 11.0 0.4 19.6 Exit costs 0.6 0.6 — 1.2 Total $ 9.0 $ 11.8 $ 0.4 $ 21.2 Year ended December 31, 2019: Mobile Process Unallocated Corporate Total Impairment charges $ 1.8 $ 0.8 $ — $ 2.6 Severance expense and related benefit costs 1.6 0.9 0.5 3.0 Exit costs 0.2 1.0 — 1.2 Total $ 3.6 $ 2.7 $ 0.5 $ 6.8 Year ended December 31, 2018: Mobile Process Unallocated Corporate Total Impairment charges $ — $ 1.3 $ — $ 1.3 Severance expense and related benefit costs 1.1 0.3 1.6 3.0 Exit costs 0.3 0.3 — 0.6 Total $ 1.4 $ 1.9 $ 1.6 $ 4.9 The following discussion explains the major impairment and restructuring charges recorded for the periods presented; however, it is not intended to reflect a comprehensive discussion of all amounts in the tables above. COVID-19 Pandemic Cost Reduction Initiatives: During 2020, the Company recorded $12.0 million in severance and related benefit costs to eliminate approximately 200 salaried positions to align current employment levels with customer demand. Of the $12.0 million charge, $5.8 million related to the Mobile Industries segment, $5.8 million related to the Process Industries segment and $0.4 million related to Unallocated Corporate. Mobile Industries: On October 16, 2019, the Company announced the reorganization of its bearing plant in Gaffney, South Carolina. The Company transferred its high-volume bearing production and roller production to other Timken manufacturing facilities in the U.S. The transfer of these operations was substantially completed by the end of the third quarter of 2020 and is expected to affect approximately 150 employees. The Company expected to incur approximately $8 million to $10 million of pretax costs in total related to this reorganization. During 2020 and 2019, the Company recognized severance and related benefits of $0.3 million and $1.3 million, respectively, and exit costs of $0.4 million and $0.1 million, respectively, related to this reorganization. The Company has incurred cumulative pretax costs related to this reorganization of $7.5 million as of December 31, 2020, including rationalization costs recorded in cost of products sold. Note 14 - Impairment and Restructuring Charges (continued) Process Industries: On February 4, 2020, the Company announced the closure of its chain plant in Indianapolis, Indiana. This plant was part of the Diamond Chain acquisition completed on April 1, 2019. The Company will be transferring the manufacturing of its Diamond Chain product line to its chain facility in Fulton, Illinois. The chain plant is expected to close by the end of the fourth quarter of 2021 and is expected to affect approximately 240 employees. The Company expects to hire approximately 130 full-time positions in Fulton, Illinois and expects to incur approximately $10 million to $12 million of expenses related to this closure. During 2020, the Company recorded severance and related benefit costs of $3.1 million related to this closure. The Company has incurred cumulative pretax costs related to this closure of $6.0 million as of December 31, 2020, including rationalization costs recorded in cost of products sold. On September 3, 2020, the Company announced the reorganization of its bearing plant in Canton, Ohio. The Company will be transferring production for certain product lines to other Timken locations in order to streamline resources and better align capacity with demand. The transfer of these operations is expected to occur by early 2021 and is expected to affect approximately 40 employees. The Company expects to incur approximately $2.0 million to $2.5 million of pretax costs related to this reorganization. During 2020, the Company recognized severance and related benefits of $1.1 million related to this reorganization. The Company has incurred cumulative pretax costs related to this reorganization of $1.2 million as of December 31, 2020, including rationalization costs recorded in cost of products sold. Consolidated Restructuring Accrual: The following is a rollforward of the consolidated restructuring accrual for the years ended December 31, 2020 and 2019: 2020 2019 Beginning balance, January 1 $ 2.7 $ 2.7 Expense 20.8 4.2 Payments (15.5) (4.2) Ending balance, December 31 $ 8.0 $ 2.7

Retirement Benefit Plans

Retirement Benefit Plans	12 Months Ended
Retirement Benefit Plans	Dec. 31, 2020
Accrued pension cost
Defined Benefit Plan Disclosure [Line Items]
Retirement Benefit Plans	Note 15 - Retirement Benefit Plans The Company and its subsidiaries sponsor a number of defined benefit pension plans, which cover eligible employees, including certain employees in foreign countries. These plans generally are noncontributory. Pension benefits earned generally are based on years of service and compensation during active employment. The cash contributions and payments for the Company’s defined benefit pension plans were $17.9 million, $35.4 million and $11.3 million in 2020 , 2019 and 2018, respectively. The 2019 contributions and payments include a $24 million payout of deferred compensation to a former executive officer of the Company. The following tables summarize the net periodic benefit cost information and the related assumptions used to measure the net periodic benefit cost for the years ended December 31: U.S. Plans International Plans 2020 2019 2018 2020 2019 2018 Components of net periodic benefit cost: Service cost $ 10.7 $ 10.7 $ 12.6 $ 1.8 $ 1.5 $ 1.7 Interest cost 21.0 23.5 24.0 5.5 7.3 7.2 Expected return on plan assets (25.3) (25.8) (29.3) (8.7) (10.2) (11.6) Amortization of prior service cost 1.6 1.6 1.7 0.2 0.2 0.1 Recognition of net actuarial (gains) (3.9) (3.5) 30.0 20.1 17.4 8.8 Curtailment losses (gains) 0.9 — (10.2) — — — Net periodic benefit cost $ 5.0 $ 6.5 $ 28.8 $ 18.9 $ 16.2 $ 6.2 Assumptions 2020 2019 2018 U.S. Plans: Discount rate 3.04% to 3.55% 3.67% to 4.43% 3.75% to 3.94% Future compensation assumption 2.50 % 2.50 % 2.50 % Expected long-term return on plan assets 4.50% to 6.25% 5.35% to 6.25% 5.75% to 6.50% International Plans: Discount rate 0.75% to 9.00% 1.50% to 11.00% 1.25% to 9.00% Future compensation assumption 2.00% to 8.20% 2.00% to 8.23% 2.00% to 8.00% Expected long-term return on plan assets 1.75% to 9.00% 2.50% to 9.00% 2.50% to 9.00% The following table summarizes assumptions used to measure the benefit obligation for the defined benefit pension plans at December 31: Assumptions 2020 2019 U.S. Plans: Discount rate 2.71% to 2.91% 3.04% to 3.55% Future compensation assumption 2.50 % 2.50 % International Plans: Discount rate 0.25% to 7.75% 0.75 % Future compensation assumption 1.90% to 8.18% 2.00% to 8.20% Note 15 - Retirement Benefit Plans (continued) The Company recognized actuarial losses of $16.2 million during 2020 primarily due to the impact of a net reduction in the discount rate used to measure its defined benefit pension obligations of $88.0 million and the impact of experience losses of $16.9 million, partially offset by higher than expected returns on plan assets of $84.3 million and other changes in valuation assumptions of $4.4 million. The impact of the net reduction in the discount rate used to measure the Company's defined benefit pension obligations was primarily driven by 66 basis point reduction in the weighted-average discount rate used to measure its U.S. plan obligations, which decreased from 3.50% in 2019 to 2.84% in 2020. The Company recognized actuarial losses of $13.9 million during 2019 primarily due to the impact of a net reduction in the discount rate used to measure its defined benefit pension obligations of $100.9 million and the impact of experience losses and other changes in valuation assumptions of $3.1 million, partially offset by higher than expected returns on plan assets of $90.1 million. The impact of the net reduction in the discount rate used to measure the Company's defined benefit pension obligations was primarily driven by a 86 basis point reduction in the weighted-average discount rate used to measure its U.S. plan obligations, which decreased from 4.36% in 2018 to 3.50% in 2019. The Company recognized actuarial losses of $38.8 million during 2018 primarily due to lower than expected returns on plan assets of $83.4 million driven by negative returns on fixed income investments, which were offset by the increase in discount rates used to measure its defined benefit pension obligations of $62.4 million. The impact of experience losses and other changes in valuation assumptions resulted in losses of approximately $17.8 million. The discount rate used to measure the U.S. plan obligations increased by 56 basis points from 3.80% during 2017 compared to 4.36% in 2018. During the fourth quarter of 2018, the Company's Board of Directors approved the freezing of the benefits for two of the Company's U.S. defined benefit pension plans, effective December 31, 2022. In conjunction with this action, the Company recognized a curtailment gain of $10.2 million in 2018. For expense purposes in 2020, the Company applied a weighted-average discount rate of 3.5% to its U.S. defined benefit pension plans. For expense purposes in 2021, the Company will apply a weighted-average discount rate of 2.84% to its U.S. defined benefit pension plans. For expense purposes in 2020, the Company applied a weighted-average expected rate of return of 5.22% for the Company’s U.S. pension plan assets. For expense purposes in 2021, the Company will apply a weighted-average expected rate of return on plan assets of 4.69%. Note 15 - Retirement Benefit Plans (continued) The following tables set forth the change in benefit obligation, change in plan assets, funded status and amounts recognized on the Consolidated Balance Sheets for the defined benefit pension plans as of December 31, 2020 and 2019: U.S. Plans International Plans 2020 2019 2020 2019 Change in benefit obligation: Benefit obligation at beginning of year $ 634.7 $ 586.6 $ 328.8 $ 300.3 Service cost 10.7 10.7 1.8 1.5 Interest cost 21.0 23.5 5.5 7.3 Plan amendments 0.1 — — — Actuarial losses 56.6 74.9 43.9 29.1 International plan exchange rate change — — 14.1 7.6 Curtailments 0.3 — — — Benefits paid (60.3) (61.0) (14.4) (17.4) Acquisitions — — — 0.4 Benefit obligation at end of year $ 663.1 $ 634.7 $ 379.7 $ 328.8 U.S. Plans International Plans 2020 2019 2020 2019 Change in plan assets: Fair value of plan assets at beginning of year $ 520.2 $ 448.3 $ 274.7 $ 254.6 Actual return on plan assets 85.8 104.2 32.5 21.9 Company contributions / payments 7.6 28.7 10.3 6.7 International plan exchange rate change — — 9.7 8.9 Benefits paid (60.3) (61.0) (14.4) (17.4) Fair value of plan assets at end of year 553.3 520.2 312.8 274.7 Funded status at end of year $ (109.8) $ (114.5) $ (66.9) $ (54.1) Amounts recognized on the Consolidated Balance Sheets: Non-current assets $ 1.8 $ — $ 0.2 $ 3.4 Current liabilities (14.2) (5.4) (1.5) (1.5) Non-current liabilities (97.4) (109.1) (65.6) (56.0) $ (109.8) $ (114.5) $ (66.9) $ (54.1) Amounts recognized in accumulated other comprehensive loss: Net prior service cost $ 2.7 $ 4.8 $ 3.9 $ 3.9 Accumulated other comprehensive loss $ 2.7 $ 4.8 $ 3.9 $ 3.9 Changes in prior service cost recognized in accumulated other comprehensive loss: Accumulated other comprehensive loss at beginning of year $ 4.8 $ 6.4 $ 3.9 $ 4.0 Prior service cost 0.1 — — — Recognized prior service cost (1.6) (1.6) (0.2) (0.2) Loss recognized due to curtailment (0.6) — — — Foreign currency impact — — 0.2 0.1 Total recognized in accumulated other comprehensive loss $ 2.7 $ 4.8 $ 3.9 $ 3.9 Note 15 - Retirement Benefit Plans (continued) The presentation in the above tables for amounts recognized in accumulated other comprehensive loss on the Consolidated Balance Sheets is before the effect of income taxes. Defined benefit pension plans in the U.S. represent 64% of the benefit obligation and 64% of the fair value of plan assets as of December 31, 2020. Certain of the Company’s defined benefit pension plans were overfunded as of December 31, 2020. As a result, $2.0 million and $3.4 million at December 31, 2020 and 2019, respectively, are included in non-current pension assets on the Consolidated Balance Sheets. The current portion of accrued pension benefits, which was included in salaries, wages and benefits on the Consolidated Balance Sheets, was $15.7 million and $6.9 million at December 31, 2020 and 2019, respectively. The increase in the current portion of accrued pension benefits relates to the expected 2021 deferred compensation payment to a former executive officer of the Company. In 2020, the current portion of accrued pension benefits relates to unfunded plans and represents the actuarial present value of expected payments related to the plans to be made over the next 12 months. The accumulated benefit obligation at December 31, 2020 exceeded the market value of plan assets for several of the Company’s pension plans. For these plans, the projected benefit obligation was $521.2 million, the accumulated benefit obligation was $515.9 million and the fair value of plan assets was $343.4 million at December 31, 2020. The total accumulated benefit obligation for all plans was $1,026.3 million and $942.0 million at December 31, 2020 and 2019, respectively. Investment performance increased the value of the Company’s pension assets by 16.5% in 2020. As of December 31, 2020 , 2019 and 2018, the Company’s defined benefit pension plans did not directly hold any of the Company’s common shares. Plan Assets: The Company’s target allocation for pension plan assets, as well as the actual pension plan asset allocations as of December 31, 2020 and 2019, was as follows: Current Target Percentage of Pension Plan Asset Category 2020 2019 Equity securities 18% to 24% 22% 21% Fixed income securities 70% to 82% 75% 74% Other investments 2% to 4% 3% 5% Total 100% 100% The Company recognizes its overall responsibility to ensure that the assets of its various defined benefit pension plans are managed effectively and prudently and in compliance with its policy guidelines and all applicable laws. Preservation of capital is important; however, the Company also recognizes that appropriate levels of risk are necessary to allow its investment managers to achieve satisfactory long-term results consistent with the objectives and the fiduciary character of the pension funds. Asset allocations are established in a manner consistent with projected plan liabilities, benefit payments and expected rates of return for various asset classes, and are reviewed regularly by management. The expected rate of return for the investment portfolio is based on expected rates of return for various asset classes, as well as historical asset class and fund performance. Note 15 - Retirement Benefit Plans (continued) Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date (exit price). The FASB provides accounting rules that classify the inputs used to measure fair value into the following hierarchy: Level 1 - Unadjusted quoted prices in active markets for identical assets or liabilities. Level 2 - Unadjusted quoted prices in active markets for similar assets or liabilities, or unadjusted quoted prices for identical or similar assets or liabilities in markets that are not active, or inputs other than quoted prices that are observable for the asset or liability. Level 3 - Unobservable inputs for the asset or liability. The following table presents the fair value hierarchy for those investments of the Company’s pension assets measured at fair value on a recurring basis: December 31, 2020 December 31, 2019 Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Total Assets: Cash and cash equivalents $ 37.1 $ — $ — $ 37.1 $ 17.1 $ — $ — $ 17.1 Government and agency securities 45.1 3.0 — 48.1 35.8 3.0 — 38.8 Corporate bonds - investment grade — 99.5 — 99.5 — 79.5 — 79.5 Equity securities - U.S. companies — — — — 0.1 — — 0.1 Common collective funds - fixed income 44.5 — — 44.5 42.0 — — 42.0 Mutual funds - fixed income 55.4 — — 55.4 66.9 — — 66.9 Mutual funds - international equity 60.4 — — 60.4 36.0 — — 36.0 Mutual funds - domestic equity — — — — 3.2 — — 3.2 Mutual funds - other assets — — — — 1.4 — — 1.4 $ 242.5 $ 102.5 $ — $ 345.0 $ 202.5 $ 82.5 $ — $ 285.0 Investments measured at net asset value: Cash and cash equivalents $ — $ 0.2 Equity securities - international companies 0.3 1.0 Common collective funds - domestic equities 63.2 76.3 Common collective funds - international equities 42.6 31.9 Common collective funds - fixed income 203.8 202.5 Common collective funds - diversified growth 20.1 17.9 Limited partnerships 13.2 18.7 Real estate partnerships 7.7 11.2 Other liability-driven investments 144.4 128.2 Other assets 25.8 22.0 Total Assets $ 866.1 $ 794.9 International investments measured at net asset value totaled $265.0 million as of December 31, 2020 and $231.8 million as of December 31, 2019, respectively. Note 15 - Retirement Benefit Plans (continued) Cash and cash equivalents are valued at redemption value. Government and agency securities are valued at the closing price reported in the active market in which the individual securities are traded. Certain corporate bonds are valued at the closing price reported in the active market in which the bond is traded. Equity securities (both common and preferred stock) are valued at the closing price reported in the active market in which the individual security is traded. Common collective funds are valued based on a net asset value per share. Mutual funds classified as Level 1 assets include investments in fixed income and international equities. These investments are comprised of securities listed on exchange, market, or automated quotation systems, for which active, quoted prices are available. Mutual funds are valued based on a net asset value per share for shares held at year end, as determined by the closing price reported on the active market on which the individual securities are traded, or a pricing vendor or the fund family if an active market is not available. Asset -backed securities are valued based on quoted prices for similar assets in active markets. When such prices are unavailable, the plan trustee determines a valuation from the market maker dealing in the particular security. Limited partnerships include investments in funds that invest primarily in private equity, venture capital and distressed debt. Limited partnerships are valued based on the ownership interest in the net asset value of the investment, which is used as a practical expedient to fair value, per the underlying investment fund, which is based upon the general partner's own assumptions about the assumptions a market participant would use in pricing the assets and liabilities of the partnership. Real estate investments include funds that invest in companies that primarily invest in commercial and residential properties, commercial mortgage-backed securities, debt and equity securities of real estate operating companies, and real estate investment trusts. Other real estate investments are valued based on the ownership interest in the net asset value of the investment, which is used as a practical expedient to fair value per the underlying investment fund, which is based on appraised values and current transaction prices. Other liability-driven investments mainly include investments in index-linked open-end swap funds. These funds invest in cash held deposits that reflect the index-linked deferred annuity with payment terms of specific years linked to UK inflation measures. The underlying assets in this investment are valued daily. Common collective funds - diversified growth investments are pooled funds that invest in a multiple underlying asset classes, such as equities, fixed income, commodities, alternative investments, and cash in an effort to achieve returns on investment through capital appreciation and income. The underlying assets in this investment are valued daily. Cash Flows: Employer Contributions to Defined Benefit Plans 2019 $ 35.4 2020 17.9 2021 (estimated) 16.0 Estimated future benefit payments, including estimated lump sum distributions, are expected to be as follows: Benefit Payments 2021 $ 98 2022 74 2023 72 2024 64 2025 62 2026-2030 270 Note 15 - Retirement Benefit Plans (continued) Employee Savings Plans: The Company sponsors defined contribution retirement and savings plans covering substantially all employees in the United States and employees at certain non-U.S. locations. The Company made contributions to its defined contribution plans of $27.1 million, $27.9 million and $23.7 million in 2020 , 2019 and 2018, respectively. Effective January 1, 2019, the primary U.S. Company sponsored defined contribution plan no longer allows contributions to be made to the Company stock fund to align with industry trends to remove investments in company stock as an option in a company sponsored defined contribution plan. All participants in this plan are required to transfer remaining funds in the Company stock fund to other fund options by December 31, 2022. At December 31, 2020, the plans held 1,095,124 of the Company’s common shares with a fair value of $84.7 million. The Company paid dividends totaling $1.5 million, $2.3 million and $2.9 million in 2020 , 2019 and

Accumulated Other Comprehensive

Accumulated Other Comprehensive Income (Loss)	12 Months Ended
Accumulated Other Comprehensive Income (Loss)	Dec. 31, 2020
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]
Accumulated Other Comprehensive Income (Loss)	Note 17 - Accumulated Other Comprehensive Income (Loss) The following tables present details about components of accumulated other comprehensive (loss) income for the years ended December 31, 2020 and December 31, 2019, respectively: Foreign currency Pension and postretirement Change in fair value of Total Balance at December 31, 2019 $ (115.3) $ 66.9 $ (1.7) $ (50.1) Other comprehensive income (loss) before reclassifications and income taxes 92.7 2.8 (1.2) 94.3 Amounts reclassified from accumulated other comprehensive (loss) income, before income tax — (7.4) (2.3) (9.7) Income tax benefit — 1.1 1.1 2.2 Net current period other comprehensive income (loss), net of income taxes 92.7 (3.5) (2.4) 86.8 Noncontrolling interest 4.6 — — 4.6 Net current period comprehensive income (loss), net of income taxes and noncontrolling interest 97.3 (3.5) (2.4) 91.4 Balance at December 31, 2020 $ (18.0) $ 63.4 $ (4.1) $ 41.3 Foreign currency Pension and postretirement Change in fair value of Total Balance at December 31, 2018 $ (95.6) $ — $ 0.3 $ (95.3) Other comprehensive income (loss) before reclassifications and income taxes (19.9) 92.7 1.2 74.0 Amounts reclassified from accumulated other comprehensive (loss) income, before income tax — (3.6) (3.8) (7.4) Income tax (expense) benefit — (22.2) 0.6 (21.6) Net current period other comprehensive income (loss), net of income taxes (19.9) 66.9 (2.0) 45.0 Noncontrolling interest 0.2 — — 0.2 Net current period comprehensive income (loss), net of income taxes and noncontrolling interest (19.7) 66.9 (2.0) 45.2 Balance at December 31, 2019 $ (115.3) $ 66.9 $ (1.7) $ (50.1)

Fair Value

Fair Value	12 Months Ended
Fair Value	Dec. 31, 2020
Fair Value Disclosures [Abstract]
Fair Value	Note 18 - Fair Value The following tables present the fair value hierarchy for those assets and liabilities on the Consolidated Balance Sheets measured at fair value on a recurring basis as of December 31, 2020 and 2019: December 31, 2020 Total Level 1 Level 2 Level 3 Assets: Cash and cash equivalents $ 320.3 $ 318.6 $ 1.7 $ — Restricted cash 0.8 0.8 — — Short-term investments 37.6 — 37.6 — Foreign currency hedges 1.1 — 1.1 — Total Assets $ 359.8 $ 319.4 $ 40.4 $ — Liabilities: Foreign currency hedges $ 8.1 $ — $ 8.1 $ — Total Liabilities $ 8.1 $ — $ 8.1 $ — December 31, 2019 Total Level 1 Level 2 Level 3 Assets: Cash and cash equivalents $ 160.7 $ 158.2 $ 2.5 $ — Cash and cash equivalents measured at net 48.8 Restricted cash 6.7 6.7 — — Short-term investments 25.7 — 25.7 — Short-term investments measured at net asset value 0.1 Foreign currency hedges 7.6 — 7.6 — Total Assets $ 249.6 $ 164.9 $ 35.8 $ — Liabilities: Foreign currency hedges $ 1.4 $ — $ 1.4 $ — Total Liabilities $ 1.4 $ — $ 1.4 $ — Cash and cash equivalents are highly liquid investments with maturities of three months or less when purchased and are valued at redemption value. Short-term investments are investments with maturities between four months and one year, and generally are valued at amortized cost, which approximates fair value A portion of the cash and cash equivalents and short-term investments are valued based on net asset value. The Company uses publicly available foreign currency forward and spot rates to measure the fair value of its foreign currency forward contracts. Additionally, the Company remeasures certain assets to fair value, using Level 3 measurements, as a result of the occurrence of triggering events such as purchase accounting for acquisitions. See Note 2 - Acquisitions for further discussion. The Company does not believe it has significant concentrations of risk associated with the counterparts to its financial instruments. No material assets were measured at fair value on a nonrecurring basis during the years ended December 31, 2020 and 2019. Note 18 - Fair Value (continued) Financial Instruments: The Company’s financial instruments consist primarily of cash and cash equivalents, short-term investments, net accounts receivable, trade accounts payable, short-term borrowings and long-term debt. Due to their short-term nature, the carrying value of cash and cash equivalents, short-term investments, accounts receivable, trade accounts payable, and short-term borrowings are a reasonable estimate of their fair value. Due to the nature of fair value calculations for variable-rate debt, the carrying value of the Company's long-term variable-rate debt is a reasonable estimate of its fair value. The fair value of the Company’s long-term fixed-rate debt, based on quoted market prices, was $1,220.7 million and $1,185.8 million at December 31, 2020 and 2019, respectively. The carrying value of this debt was $1,103.2 million and $1,086.5 million at December 31, 2020 and 2019, respectively. The fair value of long-term fixed-rate debt was measured using Level 2 inputs.

Derivative Instruments

Derivative Instruments	12 Months Ended
Derivative Instruments	Dec. 31, 2020
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative Instruments	Note 19 - Derivative Instruments The Company is exposed to certain risks relating to its ongoing business operations. The primary risks managed by using derivative instruments are foreign currency exchange rate risk and interest rate risk. Forward contracts on various foreign currencies are entered into in order to manage the foreign currency exchange rate risk associated with certain of the Company's commitments denominated in foreign currencies. From time to time, interest rate swaps are used to manage interest rate risk associated with the Company’s fixed, and floating-rate borrowings. The Company designates certain foreign currency forward contracts as cash flow hedges of forecasted revenues and certain interest rate hedges as cash flow hedges of fixed-rate borrowings. On September 8, 2020, the Company entered into a $100 million floating-to-fixed rate swap on the 2023 Term Loan, which hedges the change in the 1-month LIBOR rate October 30, 2020 through September 11, 2023 to a fixed rate. The Company’s risk management objective is to hedge the risk of changes in the monthly interest expense attributable to changes in the benchmark interest rate. On September 15, 2020, the Company designated €54.5 million of its €150.0 million fixed-rate senior unsecured notes, maturing on September 07, 2027 (the "2027 Notes") as a hedge against its net investment in one of its European affiliates. The objective of the hedge transaction is to protect the net investment in the foreign operations against changes in the exchange rate between the U.S. dollar and the Euro. The net impact for the twelve months ended December 31, 2020 was to record a loss of $2.0 million to accumulated comprehensive loss with a corresponding offset to other (expense) income, which partially offsets the impact of the foreign currency adjustment on the 2027 Notes. The Company does not purchase or hold any derivative financial instruments for trading purposes. As of December 31, 2020 and 2019, the Compan y had $173.2 million and $295.7 million, respectively, of outstanding foreign currency forward contracts at notional value. Refer to Note 18 - Fair Value for the fair value disclosure of derivative financial instruments. Cash Flow Hedging Strategy: For certain derivative instruments that are designated and qualify as cash flow hedges ( i.e ., hedging the exposure to variability in expected future cash flows that is attributable to a particular risk), the effective portion of the gain or loss on the derivative instrument is reported as a component of other comprehensive income and reclassified into earnings in the same line item associated with the forecasted transaction and in the same period or periods during which the hedged transaction affects earnings. The remaining gain or loss on the derivative instrument in excess of the cumulative change in the present value of future cash flows of the hedged item, if any ( i.e ., the ineffective portion), or hedge components excluded from the assessment of effectiveness, are recognized in the Consolidated Statement of Income during the current period. Note 19 - Derivative Instruments (continued) To protect against a reduction in the value of forecasted foreign currency cash flows resulting from export sales, the Company has instituted a foreign currency cash flow hedging program. The Company hedges portions of its forecasted cash flows denominated in foreign currencies with forward contracts. When the dollar strengthens significantly against foreign currencies, the decline in the present value of future foreign currency revenue is offset by gains in the fair value of the forward contracts designated as hedges. Conversely, when the dollar weakens, the increase in the present value of future foreign currency cash flows is offset by losses in the fair value of the forward contracts. As of December 31, 2020 and 2019, the Company had $86.9 million and $87.9 million, respectively, of outstanding foreign currency forward contracts at notional value that were classified as cash flow hedges. The maximum length of time over which the Company hedges it exposure to the variability in future cash flows for forecast transactions is generally eighteen months or less. Derivative Instruments not designated as Hedging Instruments: For derivative instruments that are not designated as hedging instruments, the instruments are typically forward contracts. In general, the practice is to reduce volatility by selectively hedging transaction exposures including intercompany loans, accounts payable and accounts receivable. Intercompany loans between entities with different functional currencies typically are hedged with a forward contract at the inception of loan with a maturity date at the maturity of the loan. The revaluation of these contracts, as well as the revaluation of the underlying balance sheet items, is recorded directly to the income statement so the adjustment generally offsets the revaluation of the underlying balance sheet items to protect cash payments and reduce income statement volatility. As of December 31, 2020 and 2019 , the Company had $86.2 million and $207.8 million, respectively, of outstanding foreign currency forward contracts at notional value that were not designated as hedging instruments. The following table presents the impact of derivative instruments not designated as hedging instruments for the years ended December 31, 2020, 2019 and 2018, and the related location within the Consolidated Statements of Income. Amount of gain or (loss) Year Ended December 31, Derivatives not designated as hedging instruments Location of gain or (loss) recognized in income 2020 2019 2018 Foreign currency forward contracts Other income (expense), net $ (3.7) $ 5.9 $ 5.1

Research and Development

Research and Development	12 Months Ended
Research and Development	Dec. 31, 2020
Research and Development [Abstract]
Research and Development	Note 20 - Research and Development The Company leverages its technical knowledge, research expertise, and production and engineering capabilities across all of its products and end markets to deliver high-performance products and services to its customers. Costs included in "Research and Development Expense" primarily relate to new product innovation. Costs included in "Engineering Expense" primarily relate to the technological enhancement of existing products and services as we align with our customers evolving needs. Expenditures may fluctuate from year-to-year depending on special projects and needs. Year Ended December 31, Expenditures as a percentage of sales 2020 2019 2018 Research and Development Expense 1.2 % 1.1 % 1.0 % Engineering Expense 1.0 % 1.3 % 1.3 % Total 2.2 % 2.4 % 2.3 %

Quarterly Financial Data

Quarterly Financial Data	12 Months Ended
Quarterly Financial Data	Dec. 31, 2020
Quarterly Financial Information Disclosure [Abstract]
Quarterly Financial Data	Note 21 - Quarterly Financial Data (Unaudited ) 2020 1st 2nd 3rd 4th Total Net sales $ 923.4 $ 803.5 $ 894.6 $ 891.7 $ 3,513.2 Gross profit 278.9 230.3 263.7 237.0 1,009.9 Selling, general and administrative expenses 153.6 111.8 132.7 135.7 533.8 Impairment and restructuring charges 3.6 3.1 12.0 2.5 21.2 Net income (1) 84.0 61.8 91.3 55.3 292.4 Net income attributable to noncontrolling interests 3.3 (0.1) 2.5 2.2 7.9 Net income attributable to The Timken Company 80.7 61.9 88.8 53.1 284.5 Net income per share - Basic: $ 1.07 $ 0.82 $ 1.18 $ 0.70 $ 3.78 Net income per share - Diluted: $ 1.06 $ 0.82 $ 1.16 $ 0.69 $ 3.72 Dividends per share $ 0.28 $ 0.28 $ 0.28 $ 0.29 $ 1.13 2019 1st 2nd 3rd 4th Total Net sales $ 979.7 $ 1,000.0 $ 914.0 $ 896.2 $ 3,789.9 Gross profit 302.6 305.7 277.5 256.0 1,141.8 Selling, general and administrative expenses 152.7 158.7 148.0 159.2 618.6 Impairment and restructuring charges — 1.9 1.6 3.3 6.8 Net income (2) 95.3 94.9 66.7 117.8 374.7 Net income attributable to noncontrolling interests 3.4 2.4 2.5 4.3 12.6 Net income attributable to The Timken Company 91.9 92.5 64.2 113.5 362.1 Net income per share - Basic: $ 1.21 $ 1.22 $ 0.85 $ 1.51 $ 4.78 Net income per share - Diluted: $ 1.19 $ 1.20 $ 0.84 $ 1.48 $ 4.71 Dividends per share $ 0.28 $ 0.28 $ 0.28 $ 0.28 $ 1.12 Earnings per share are computed independently for each of the quarters presented; therefore, the sum of the quarterly earnings per share may not equal the total computed for the year. (1) Net income for the second quarter of 2020 included net actuarial losses of $8.8 million. Net income for the third quarter of 2020 included net actuarial gains of $11.9 million and impairment and restructuring charges of $12.0 million. Net income for the fourth quarter of 2020 included net actuarial losses of $21.6 million. (2) Net income for the third quarter of 2019 included net actuarial losses of $16.9 million, Net income for the fourth quarter of 2019 included the reversal of tax valuation allowances of $44.5 million and net actuarial gains of $21.1 million.

Schedule II - Valuation and Qua

Schedule II - Valuation and Qualifying Accounts	12 Months Ended
Schedule II - Valuation and Qualifying Accounts	Dec. 31, 2020
SEC Schedule, 12-09, Valuation and Qualifying Accounts [Abstract]
SEC Schedule, 12-09, Schedule of Valuation and Qualifying Accounts Disclosure [Text Block]	Schedule II—Valuation and Qualifying Accounts The Timken Company and Subsidiaries Allowance for uncollectible accounts: 2020 2019 2018 Balance at beginning of period $ 18.1 $ 21.9 $ 20.3 Additions: Charged to costs and expenses (1) 2.8 1.8 3.1 Charged to other accounts (2) — — 1.3 Deductions: Charged to costs and expenses (3) 3.4 4.9 2.8 Charged to other accounts (2) 1.0 0.7 Balance at end of period $ 16.5 $ 18.1 $ 21.9 Allowance for surplus and obsolete inventory: 2020 2019 2018 Balance at beginning of period $ 40.1 $ 43.2 $ 34.2 Additions: Charged to costs and expenses (4) 11.6 5.2 16.1 Charged to other accounts (2) 11.8 1.9 2.4 Deductions (5) 9.0 10.2 9.5 Balance at end of period $ 54.5 $ 40.1 $ 43.2 Valuation allowance on deferred tax assets: 2020 2019 2018 Balance at beginning of period $ 33.7 $ 77.5 $ 79.4 Additions: Charged to costs and expenses (6) 2.7 1.1 — Charged to other accounts (2) 1.0 — — Deductions Charged to costs and expenses (7) 0.7 44.5 — Charged to other accounts (2) — 0.4 1.9 Balance at end of period $ 36.7 $ 33.7 $ 77.5 (1) Provision for uncollectible accounts included in expenses. (2) Currency translation and change in reserves due to acquisitions, net of divestitures. (3) Actual accounts written off against the allowance, net of recoveries. (4) Provision for surplus and obsolete inventory included in expenses. (5) Inventory items written off against the allowance. (6) Increase in valuation allowance is recorded as a component of the provision for income taxes. (7) Amount relates to the reversal of valuation allowances and was recorded as a component of the provision for income taxes. The Company released $44.5 million of foreign valuation allowances for the year-ended December 31, 2019, $40.7 million of which relates to the valuation allowance that was recorded against German indefinite-lived loss carryforwards and pension deferred tax assets. Refer to Note 5 - Income Taxes

Significant Accounting Polici_2

Significant Accounting Policies (Policies)	12 Months Ended
Significant Accounting Policies (Policies)	Dec. 31, 2020
Accounting Policies [Abstract]
Principles of Consolidation	Principles of Consolidation:
Revenue	Revenue: A contract exists when it has approval and commitment from both parties, the rights of the parties are identified, payment terms are identified, the contract has commercial substance and collectability of consideration is probable. Revenue is recognized when performance obligations under the terms of a contract with a customer of the Company are satisfied. Of the Company's revenue, approximately 85-90% is from short-term, fixed-price contracts and continues to be recognized as of a point in time when products are shipped from the Company's manufacturing facilities or at a later point in time when control of the products transfers to the customer. The Company recognizes approximately 10-15% of revenue over time for services and certain sales of customer-specific product as it satisfies the performance obligations because of the continuous transfer of control to the customer, supported as follows: • For certain service contracts, this continuous transfer of control to the customer occurs as the Company's service enhances assets that the customer owns and controls at all times and the Company is contractually entitled to payment for work performed to date plus a reasonable margin. • For U.S. government contracts, the customer is allowed to unilaterally terminate the contract for convenience, and is required to pay the Company for costs incurred plus a reasonable margin and can take control of any work in process. • For certain non-U.S. government contracts involving customer-specific products, the customer controls the work in process based on contractual termination clauses or restrictions on the Company's use of the product and the Company possesses a right to payment for work performed to date plus a reasonable margin. As a result of control transferring over time for these products and services, revenue is recognized based on progress toward completion of the performance obligation. The selection of the method to measure progress towards completion requires judgment and is based on the nature of the products or services to be provided. The Company has elected to use the cost-to-cost input measure of progress for these contracts because it best depicts the transfer of goods or services to the customer based on incurring costs on the contracts. Under the cost-to-cost measure of progress, the extent of progress towards completion is measured based on the ratio of costs incurred to date to the total estimated costs at completion of the performance obligation. Revenues are recorded proportionally as costs are incurred. The pricing and payment terms for non-U.S. government contracts are based on the Company's standard terms and conditions or the result of specific negotiations with each customer. The Company's standard terms and conditions require payment 45-75 days from the invoice date, but the timing of payment for specific negotiated terms may vary. The Company also has both prime and subcontracts in support of the provision of goods and services to the U.S. government. Certain of these contracts are subject to the Federal Acquisition Regulation ("FAR") and are priced based on a competitive market prices. Under the payment terms of certain of those U.S. government fixed-price contracts, the customer pays the Company performance-based payments, which are interim payments of up to 90% of the costs incurred to date based on quantifiable measures of performance or on the achievement of specified events or milestones. Because the customer retains a portion of the contract price until completion of such contracts, certain of these U.S. government fixed-price contracts result in revenue recognized in excess of billings, which is presented within "Unbilled Receivables" on the Consolidated Balance Sheet. The portion of the payments retained by the customer until final contract settlement is not considered a significant financing component because the intent is to protect the customer. Note 1 - Significant Accounting Policies (continued) Revenue is measured as the amount of consideration the Company expects to receive in exchange for transferring goods or providing services. Sales, value add, and other taxes the Company collects concurrent with revenue-producing activities are excluded from revenue. As a practical expedient, the Company may exclude an assessment of whether promised goods or services are performance obligations, if such promised goods and services are immaterial to the customer contract taken as a whole, and combine these with other performance obligations. The Company has also elected not to adjust the promised amount of consideration for the effects of any significant financing component where the Company expects, at contract inception, that the period between when the Company transfers a promised good or service to a customer and when the customer pays for that good or service will be one year or less. Finally, the Company's policy is to exclude performance obligations resulting from contracts with a duration of one year or less from its disclosures related to remaining performance obligations. The amount of consideration to which the Company expects to be entitled in exchange for the goods and services is not generally subject to significant variations. However, the Company does offer certain customers rebates, prompt payment discounts, end-user discounts, the right to return eligible products, and/or other forms of variable consideration. The Company estimates this variable consideration using the expected value amount, which is based on historical experience. The Company includes estimated amounts in the transaction price to the extent it is probable that a significant reversal of cumulative revenue recognized will not occur when the uncertainty associated with the variable consideration is resolved. The Company adjusts the estimate of revenue at the earlier of when the amount of consideration the Company expects to receive changes or when the consideration becomes fixed. The Company recognizes the cost of freight and shipping when control of the products or services has transferred to the customer as an expense in "Cost of products sold" on the Consolidated Statement of Income, because those are costs incurred to fulfill the promise recognized, not a separate performance obligation. To the extent certain freight and shipping fees are charged to customers, the Company recognizes the amounts charged to customers as revenues and the related costs as an expense in "Cost of products sold" when control of the related products or services has transferred to the customer. Contracts are occasionally modified to account for changes in contract specifications, requirements, and pricing. The Company considers contract modifications to exist when the modification either creates new enforceable rights and obligations or changes existing ones. Substantially all of the Company's contract modifications are for goods or services that are distinct from the existing contract. Therefore, the effect of a contract modification on the transaction price and the Company's measure of progress for the performance obligation to which it relates is generally recognized on a prospective basis.
Cash Equivalents	Cash Equivalents: The Company considers all highly liquid investments with a maturity of three months or less when purchased to be cash equivalents.
Restricted Cash	Restricted Cash: Cash of $0.8 million and $6.7 million at December 31, 2020 and 2019, respectively, was restricted for contractually specified uses. The decrease was primarily due to the release of the Company's contractual cash hold-back for working capital adjustment as part of the BEKA acquisition.
Accounts Receivable, Less Allowance	Accounts Receivable, Less Allowances: Accounts receivable, less allowances on the Consolidated Balance Sheet include amounts billed and currently due from customers. The amounts due are stated at their net estimated realizable value. The Company maintains an allowance for doubtful accounts, which represents an estimate of the losses expected from the accounts receivable portfolio, to reduce accounts receivable to their net realizable value. The allowance is based upon historical trends in collections and write-offs, management's judgment of the probability of collecting accounts and management's evaluation of business risk. The Company extends credit to customers satisfying pre-defined credit criteria. The Company believes it has limited concentration of credit risk due to the diversity of its customer base.
Unbilled Receivables	Unbilled Receivables: Unbilled receivables on the Consolidated Balance Sheet primarily include unbilled amounts typically resulting from sales under long-term contracts when the following conditions exist: (i) cost-to-cost method of revenue recognition is utilized; (ii) the revenue recognized exceeds the amount billed to the customer; and (iii) the right to payment is primarily subject only to the passage of time. The amounts recorded for unbilled receivables do not exceed their net realizable value.
Inventories	Inventories: Inventories are valued at the lower of cost or net realizable value, with approximately 61% valued by the FIFO method and the remaining 39% valued by the LIFO method. The majority of the Company’s domestic inventories are valued by the LIFO method, while all of the Company’s international inventories are valued by the FIFO method.
Investments	Investments: Short-term investments are investments with maturities between three months and one year and are valued at amortized cost, which approximates fair value. The Company held short-term investments as of December 31, 2020 and 2019 with a fair value and cost basis of $37.6 million and $25.7 million, respectively, which were included in "Other current assets" on the Consolidated Balance Sheets.
Property, Plant and Equipment	Property, Plant and Equipment: Property, plant and equipment, net on the Consolidated Balance Sheets is valued at cost less accumulated depreciation. Maintenance and repairs are charged to expense as incurred. The provision for depreciation is computed by the straight-line method based upon the estimated useful lives of the assets. The useful lives are approximately 30 years for buildings, 3 to 10 years for computer software and 3 to 20 years for machinery and equipment. The impairment of long-lived assets is evaluated when events or changes in circumstances indicate that the carrying amount of the asset or related group of assets may not be recoverable. If the expected future undiscounted cash flows are less than the carrying amount of the asset, an impairment loss is recognized at that time to reduce the asset to the lower of its fair value or its net book value.
Leases	Leases: The Company determines if any arrangement is a lease at the inception of a contract. For leases where the Company is the lessee, it recognizes lease assets and related lease liabilities at the lease commencement date based on the present value of lease payments over the lease term. Most of the Company’s leases do not provide an implicit interest rate. As a result, the Company uses its incremental borrowing rate based on the information available at the commencement date in determining the present value of lease payments. The lease assets also consist of amounts for favorable or unfavorable lease terms related to acquisitions. Lease expense for operating leases is recognized on a straight-line basis over the lease term as an operating expense while the expense for finance leases is recognized as depreciation expense and interest expense using the accelerated interest method of recognition. A lease asset and lease liability are not recorded for leases with an initial term of less than 12 months or less and the lease expenses related to these leases is recognized as incurred over the lease term.
Goodwill and Other Intangible Assets	Goodwill and Other Intangible Assets: Intangible assets subject to amortization are amortized on a straight-line method over their legal or estimated useful lives, with useful lives ranging from 1 to 20 years. Goodwill and indefinite-lived intangible assets not subject to amortization are tested for impairment at least annually. The Company performs its annual impairment test as of October 1st. Furthermore, goodwill and intangible assets are reviewed for impairment whenever events or changes in circumstances indicate that the carrying values may not be recoverable in accordance with accounting rules related to goodwill and other intangible assets.
Purchase accounting and business combinations	Purchase accounting and business combinations:Assets acquired and the liabilities assumed as part of a business combination are recognized at their acquisition date fair values. Goodwill as of the acquisition date is measured as the excess of consideration transferred over the net of the acquisition date fair values of the assets acquired and the liabilities assumed. The Company considers inputs to value the assets and liabilities by taking into account competitive trends, market comparisons, independent appraisals, and historical data, among other factors, as supplemented by current and anticipated market conditions. The valuation inputs in these analyses are based on market participant assumptions. The Company may refine these estimates and record adjustments to an asset or liability with the offset to goodwill during the measurement period, which may be up to one year from the acquisition date. Upon the conclusion of the measurement period or final determination of the values of the assets acquired or liabilities assumed, whichever comes first, any subsequent adjustments are recorded in the Company’s Consolidated Statements of Income.
Product Warranties	Product Warranties: The Company provides limited warranties on certain of its products. The Company accrues liabilities for warranties generally based upon specific claims and in certain instances based on historical warranty claim experience in accordance with accounting rules relating to contingent liabilities. When the Company becomes aware of a specific potential warranty claim for which liability is probable and reasonably estimable, a specific charge is recorded and accounted for accordingly. Adjustments are made quarterly to the accruals as claim data and historical experience change.
Income Taxes	Income Taxes: The Company accounts for income taxes in accordance with ASC 740, “Income Taxes.” Deferred tax assets and liabilities are recorded for the future tax consequences attributable to differences between financial statement carrying amounts of existing assets and liabilities and their respective tax bases, as well as net operating loss and tax credit carryforwards. The Company recognizes valuation allowances against deferred tax assets by tax jurisdiction when it is more likely than not those assets will not be realized. Accruals for uncertain tax positions are provided for in accordance with ASC 740-10. The Company recognizes interest and penalties related to uncertain tax positions as a component of income tax expense.
Foreign Currency	Foreign Currency: Assets and liabilities of subsidiaries are translated at the rate of exchange in effect on the balance sheet date; income and expenses are translated at the average rates of exchange prevailing during the reporting period. Translation adjustments for assets and liabilities are reflected as a separate component of accumulated other comprehensive loss. Foreign currency gains and losses resulting from transactions are included in the Consolidated Statements of Income. Net of related derivative activity, the Company recognized a foreign currency exchange loss resulting from transactions of $10.0 million for the year ended December 31, 2020, and recognized a gain of $6.1 million and a gain of $3.6 million for the years ended December 31, 2019 and 2018, respectively.
Pension and Other Postretirement Benefits	Pension and Other Postretirement Benefits:The Company recognizes actuarial gains and losses immediately through net periodic benefit cost upon the annual remeasurement in the fourth quarter, or on an interim basis if specific events trigger a remeasurement. Actuarial gains and losses are excluded from segment results, while all other components of net periodic benefit cost will continue to be included within segment results.
Stock-Based Compensation	Stock-Based Compensation: The Company recognizes stock-based compensation expense over the related vesting period of the awards based on the fair value on the grant date. Stock options are issued with an exercise price equal to the opening market price of Timken common shares on the date of grant. The fair value of stock options is determined using a Black-Scholes option pricing model, which incorporates assumptions regarding the expected volatility, the expected option life, the risk-free interest rate and the expected dividend yield. The fair value of stock-based awards that will settle in Timken common shares, other than stock options, is based on the opening market price of Timken common shares on the grant date. The fair value of stock-based awards that will settle in cash are remeasured at each reporting period until settlement of the awards. The Company recognizes forfeitures on stock-based awards as they occur. In addition, the Company’s share grants provide for the payment of dividends to employees and the Board of Directors upon vesting. These dividends are charged to retained earnings when paid.
Earnings Per Share	Earnings Per Share: Certain unvested restricted share grants provide for the payment of nonforfeitable dividends. The Company considers these awards as participating securities. Earnings per share are computed using the two-class method. Basic earnings per share are computed by dividing net income less undistributed earnings allocated to unvested restricted shares by the weighted-average number of common shares outstanding during the year. Diluted earnings per share are computed by dividing net income less undistributed earnings allocated to unvested restricted shares by the weighted-average number of common shares outstanding, adjusted for the dilutive impact of outstanding stock-based awards.
Derivative Instruments	Derivative Instruments: The Company recognizes all derivatives on the Consolidated Balance Sheets at fair value. Derivatives that are not designated as hedges are adjusted to fair value through earnings. If the derivative is designated and qualifies as a hedge, depending on the nature of the hedge, changes in the fair value of the derivatives are either offset against the change in fair value of the hedged assets, liabilities or firm commitments through earnings or recognized in accumulated other comprehensive loss until the hedged item is recognized in earnings. The Company’s holdings of forward foreign currency exchange contracts qualify as derivatives pursuant to the criteria established in derivative accounting guidance, and the Company has designated certain of those derivatives as hedges.
Use of Estimates	Use of Estimates: The preparation of consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the amounts reported in the consolidated financial statements and accompanying notes. Because actual results could differ from these estimates, the Company reviews and updates these estimates and assumptions regularly to reflect recent experience.
New Accounting Pronouncements	New Accounting Guidance Adopted: In June 2016, the FASB issued Accounting Standards Update ("ASU") 2016-13, "Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments," and was subsequently updated with ASU 2019-04 in April of 2019. These ASUs change how entities will measure credit losses for most financial assets and certain other instruments that are not measured at fair value through net income. The new guidance replaced the current incurred loss approach with an expected loss model. The new expected credit loss impairment model applies to most financial assets measured at amortized cost and certain other instruments, including trade and other receivables, loans, held-to-maturity debt instruments, net investments in leases, loan commitments and standby letters of credit. Upon initial recognition of the exposure, the expected credit loss model requires entities to estimate the credit losses expected over the life of an exposure (or pool of exposures). The estimate of expected credit losses should consider historical information, current information and reasonable and supportable forecasts, including estimates of prepayments. Financial instruments with similar risk characteristics should be grouped together when estimating expected credit losses. ASU 2016-13 does not prescribe a specific method to make the estimate, so its application requires significant judgment. ASU 2016-13 was effective for public companies in fiscal years beginning after December 15, 2019, including interim periods within those fiscal years. The Company adopted ASU 2016-13 effective January 1, 2020, and the impact of adoption was not material to the Company's results of operations and financial condition. Refer to the Consolidated Statements of Shareholders’ Equity for the cumulative effect of initially applying ASU 2016-13. Note 1 - Significant Accounting Policies (continued) New Accounting Guidance Issued and Not Yet Adopted: In March 2020, the FASB issued ASU 2020-04, "Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting." This guidance is intended to provide temporary optional expedients and exceptions to the U.S. GAAP guidance on contract modifications and hedge accounting to ease the financial reporting burden related to the expected market transition from the London Interbank Offered Rate (LIBOR) and other interbank offered rates to alternative reference rates. This guidance is available immediately and may be implemented in any period prior to the guidance expiration on December 31, 2022. The Company is currently assessing which of its various contracts will require an update for a new reference rate, and will determine the timing for implementation of this guidance at the completion of that analysis.

Acquisitions (Tables)

Acquisitions (Tables)	12 Months Ended
Acquisitions (Tables)	Dec. 31, 2020
Business Combinations [Abstract]
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed	The purchase price allocations at fair value, net of cash acquired, for 2020 and 2019 acquisitions as of December 31, 2020 and 2019 are presented below: 2020 2019 Assets: Accounts receivable $ 2.7 $ 26.1 Inventories 16.4 59.4 Other current assets 0.1 5.1 Property, plant and equipment 10.9 57.4 Operating lease assets — 5.1 Goodwill — 52.6 Other intangible assets — 84.3 Other non-current assets — 0.9 Total assets acquired $ 30.1 $ 290.9 Liabilities: Accounts payable, trade $ 0.8 $ 10.6 Salaries, wages and benefits — 6.8 Income taxes payable — 2.1 Other current liabilities 0.9 7.1 Short-term debt — 0.8 Long-term debt — 17.2 Accrued pension cost — 0.8 Accrued postretirement liability — 0.1 Long-term operating lease liabilities — 4.5 Deferred taxes — 2.9 Other non-current liabilities — 1.1 Total liabilities assumed $ 1.7 $ 54.0 Noncontrolling interest acquired — 1.8 Net assets acquired $ 28.4 $ 235.1 Cash flow reconciling items: Working capital adjustment related to 2018 acquisitions paid in 2019 $ — $ 2.9 Working capital adjustment for 2019 acquisitions paid (recognized) in 2020 6.7 (6.7) Indemnification settlement received — (4.8) Bargain purchase price gain (11.1) — Cash paid for acquisitions, net of cash acquired $ 24.0 $ 226.5
Finite-Lived and Indefinite-Lived Intangible Assets Acquired as Part of Business Combination	The following table summarizes the purchase price allocation at fair value for identifiable intangible assets acquired in 2019: 2019 Weighted- Trade names (indefinite life) $ 28.2 Indefinite Technology and know-how 22.4 17 years Customer relationships 33.3 19 years Capitalized software 0.5 2 years Total intangible assets $ 84.4

Revenue (Tables)

Revenue (Tables)	12 Months Ended
Revenue (Tables)	Dec. 31, 2020
Revenue from Contract with Customer [Abstract]
Disaggregation of Revenue	The following table presents details deemed most relevant to the users of the financial statements about total revenue for the years ended December 31, 2020, 2019 and 2018: December 31, 2020 Mobile Process Total United States $ 853.8 $ 699.6 $ 1,553.4 Americas excluding United States 168.1 138.0 306.1 Europe / Middle East / Africa 389.9 457.0 846.9 China 102.2 421.0 523.2 Asia-Pacific excluding China 157.6 126.0 283.6 Net sales $ 1,671.6 $ 1,841.6 $ 3,513.2 December 31, 2019 Mobile Process Total United States $ 1,007.1 $ 821.0 $ 1,828.1 Americas excluding United States 209.6 167.7 377.3 Europe / Middle East / Africa 390.8 489.2 880.0 China 92.1 268.5 360.6 Asia-Pacific excluding China 194.3 149.6 343.9 Net sales $ 1,893.9 $ 1,896.0 $ 3,789.9 December 31, 2018 Mobile Process Total United States $ 1,028.8 $ 769.5 $ 1,798.3 Americas excluding United States 208.9 176.7 385.6 Europe / Middle East / Africa 382.5 380.2 762.7 China 95.4 218.4 313.8 Asia-Pacific excluding China 188.1 132.3 320.4 Net sales $ 1,903.7 $ 1,677.1 $ 3,580.8 Revenue by sales channel December 31, 2020 December 31, 2019 Original equipment manufacturers 60% 56% Distribution/end users 40% 44%
Contract with Customer, Asset and Liability	The following table contains a rollforward of unbilled receivables for the year ended December 31, 2020: December 31, Beginning balance, January 1 $ 129.2 Additional unbilled revenue recognized 393.6 Less: amounts billed to customers (411.9) Ending balance $ 110.9

Segment Information (Tables)

Segment Information (Tables)	12 Months Ended
Segment Information (Tables)	Dec. 31, 2020
Segment Reporting [Abstract]
Segment Wise Financial Performance	The following tables provide segment financial information and a reconciliation of segment results to consolidated results: 2020 2019 2018 Net sales to external customers: Mobile Industries $ 1,671.6 $ 1,893.9 $ 1,903.7 Process Industries 1,841.6 1,896.0 1,677.1 $ 3,513.2 $ 3,789.9 $ 3,580.8 Segment EBITDA: Mobile Industries $ 232.5 $ 284.9 $ 272.2 Process Industries 442.9 466.6 405.7 Total EBITDA, for reportable segments $ 675.4 $ 751.5 $ 677.9 Corporate EBITDA (40.7) (55.4) (61.4) Corporate pension and other postretirement benefit related (expense) income (1) (18.5) 4.1 (12.8) Acquisition-related gain (2) 11.1 — — Depreciation and amortization (167.1) (160.6) (146.0) Interest expense, net (63.9) (67.2) (49.6) Income before income taxes $ 396.3 $ 472.4 $ 408.1 (1) Corporate pension and other postretirement benefit related (expense) income represents curtailments, professional fees associated with pension de-risking and actuarial (losses) and gains that resulted from the remeasurement of pension and other postretirement plan assets and obligations as a result of changes in assumptions. (2) The acquisition-related gain represents a bargain purchase price gain on the acquisition of Aurora, acquired on November 30, 2020. See Note 2 - Acquisitions for additional information. 2020 2019 Assets employed at year-end: Mobile Industries $ 2,082.2 $ 2,109.9 Process Industries 2,482.6 2,366.7 Corporate (2) 476.8 383.3 $ 5,041.6 $ 4,859.9 (2) Corporate assets include corporate buildings and cash and cash equivalents. Note 4 - Segment Information (continued) 2020 2019 2018 Capital expenditures: Mobile Industries $ 70.5 $ 74.2 $ 48.3 Process Industries 50.1 65.3 63.3 Corporate 1.0 1.1 1.0 $ 121.6 $ 140.6 $ 112.6 Depreciation and amortization: Mobile Industries $ 79.7 $ 73.6 $ 73.5 Process Industries 86.6 86.2 71.9 Corporate 0.8 0.8 0.6 $ 167.1 $ 160.6 $ 146.0
Geographic Wise Financial Information	Geographic Financial Information: 2020 2019 Property, Plant and Equipment, net: United States $ 401.8 $ 391.7 China 196.4 183.4 India 140.0 132.6 Romania 118.0 105.3 Rest of world 179.4 176.2 $ 1,035.6 $ 989.2

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
Income Taxes (Tables)	Dec. 31, 2020
Income Tax Disclosure [Abstract]
Schedule of Income before Income Tax, Domestic and Foreign	Income before income taxes: 2020 2019 2018 United States $ 144.1 $ 190.7 $ 202.0 Non-United States 252.2 281.7 206.1 Income before income taxes $ 396.3 $ 472.4 $ 408.1
Schedule of Components of Income Tax Expense (Benefit)	The provision for income taxes consisted of the following: 2020 2019 2018 Current: Federal $ 40.3 $ 20.8 $ 46.1 State and local 7.9 4.8 9.9 Foreign 78.9 81.0 68.0 $ 127.1 $ 106.6 $ 124.0 Deferred: Federal $ (19.5) $ 39.8 $ (19.9) State and local (1.3) 6.5 (0.7) Foreign (2.4) (55.2) (0.8) $ (23.2) $ (8.9) $ (21.4) United States and foreign tax provision on income $ 103.9 $ 97.7 $ 102.6
Summary of Variation of Effective Income Tax Rate from Continuing Operations from Statutory Federal Income Tax Rate	The following table is the reconciliation between the provision for income taxes and the amount computed by applying the U.S. federal income tax rat e of 21% to income before taxes: 2020 2019 2018 Income tax at the U.S. federal statutory rate $ 83.2 $ 99.2 $ 85.7 Adjustments: State and local income taxes, net of federal tax benefit 4.8 7.4 6.8 Tax on foreign remittances and U.S. tax on foreign income 22.5 26.4 21.1 Tax expense related to undistributed earnings of foreign subsidiaries 0.1 6.0 — Foreign losses without current tax benefits 2.5 3.2 3.7 Foreign earnings taxed at different rates including tax holidays 11.1 12.6 11.1 U.S. foreign tax credit (13.8) (18.3) (21.2) Accruals and settlements related to tax audits 3.4 11.1 (3.8) Valuation allowance changes (0.7) (44.5) — Deferred taxes related to branch operations — 5.3 — U.S. Tax Reform — — (10.6) Other tax rate change 0.8 (5.0) (2.4) Other items, net (10.0) (5.7) 12.2 Provision for income taxes $ 103.9 $ 97.7 $ 102.6 Effective income tax rate 26.2 % 20.7 % 25.1 %
Deferred Tax	The effect of temporary differences giving rise to deferred tax assets and liabilities at December 31, 2020 and 2019 was as follows: 2020 2019 Deferred tax assets: Accrued postretirement benefits cost $ 15.4 $ 0.1 Accrued pension cost 57.4 55.1 Other employee benefit accruals 11.0 10.9 Tax loss and credit carryforwards 90.2 86.0 Other, net 46.7 46.9 Valuation allowances (36.7) (33.7) $ 184.0 $ 165.3 Deferred tax liabilities - principally depreciation and amortization (255.7) (261.6) Net deferred tax (liabilities) assets $ (71.7) $ (96.3)
Components of Deferred Tax Assets and Liabilities	The following table reconciles the Company’s total gross unrecognized tax benefits for the years ended December 31, 2020, 2019 and 2018: 2020 2019 2018 Beginning balance, January 1 $ 38.9 $ 26.0 $ 14.0 Tax positions related to the current year: Additions 2.2 3.6 0.4 Tax positions related to prior years: Additions 8.7 11.7 17.8 Reductions (1.0) (1.1) (2.9) Settlements with tax authorities (0.3) (1.2) (2.2) Lapses in statutes of limitation (2.9) (0.1) (1.1) Ending balance, December 31 $ 45.6 $ 38.9 $ 26.0

Earnings Per Share (Tables)

Earnings Per Share (Tables)	12 Months Ended
Earnings Per Share (Tables)	Dec. 31, 2020
Earnings Per Share [Abstract]
Reconciliation of the numerator and the denominator of basic earnings per share and diluted earnings per share	The following table sets forth the reconciliation of the numerator and the denominator of basic earnings per share and diluted earnings per share for the years ended December 31, 2020, 2019 and 2018: 2020 2019 2018 Numerator: Net income attributable to The Timken Company $ 284.5 $ 362.1 $ 302.8 Less: undistributed earnings allocated to nonvested stock — — — Net income available to common shareholders for basic and diluted earnings per share $ 284.5 $ 362.1 $ 302.8 Denominator: Weighted average number of shares outstanding - basic 75,354,280 75,758,123 77,119,602 Effect of dilutive securities: Stock options and awards - based on the treasury stock method 1,047,086 1,138,442 1,217,879 Weighted average number of shares outstanding, assuming dilution of stock options and awards 76,401,366 76,896,565 78,337,481 Basic earnings per share $ 3.78 $ 4.78 $ 3.93 Diluted earnings per share $ 3.72 $ 4.71 $ 3.86

Inventories (Tables)

Inventories (Tables)	12 Months Ended
Inventories (Tables)	Dec. 31, 2020
Inventory Disclosure [Abstract]
Schedule of Inventory, Current	The components of inventories at December 31, 2020 and 2019 were as follows: 2020 2019 Manufacturing supplies $ 34.8 $ 34.2 Raw materials 99.5 100.0 Work in process 320.3 308.9 Finished products 441.2 439.0 Subtotal $ 895.8 $ 882.1 Allowance for surplus and obsolete inventory (54.5) (40.1) Total Inventories, net $ 841.3 $ 842.0

Property, Plant and Equipment (

Property, Plant and Equipment (Tables)	12 Months Ended
Property, Plant and Equipment (Tables)	Dec. 31, 2020
Property, Plant and Equipment [Abstract]
Components of Property, Plant and Equipment	The components of property, plant and equipment, net at December 31, 2020 and 2019 were as follows: 2020 2019 Land and buildings $ 535.3 $ 510.9 Machinery and equipment 2,206.2 2,093.3 Subtotal $ 2,741.5 $ 2,604.2 Less: accumulated depreciation (1,705.9) (1,615.0) Property, Plant and Equipment, net $ 1,035.6 $ 989.2

Goodwill and Other Intangible_2

Goodwill and Other Intangible Assets (Tables)	12 Months Ended
Goodwill and Other Intangible Assets (Tables)	Dec. 31, 2020
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Goodwill	Changes in the carrying value of goodwill were as follows: Year ended December 31, 2020: Mobile Industries Process Total Beginning Balance $ 361.3 $ 632.4 $ 993.7 Acquisitions 5.6 2.8 8.4 Foreign currency translation adjustments 17.7 27.8 45.5 Ending Balance $ 384.6 $ 663.0 $ 1,047.6 Year ended December 31, 2019: Mobile Industries Process Total Beginning Balance $ 349.7 $ 610.8 $ 960.5 Acquisitions 18.2 27.9 46.1 Foreign currency translation adjustments and other changes (6.6) (6.3) (12.9) Ending Balance $ 361.3 $ 632.4 $ 993.7
Schedule of Finite and Indefinite Lived Intangible Assets by Major Class	The following table displays intangible assets as of December 31, 2020 and 2019: 2020 2019 Gross Accumulated Net Gross Accumulated Net Intangible assets subject Customer relationships $ 532.2 $ (161.9) $ 370.3 $ 510.9 $ (128.8) $ 382.1 Technology and know-how 277.2 (72.0) 205.2 265.1 (54.7) 210.4 Trade names 14.2 (8.8) 5.4 12.7 (6.1) 6.6 Capitalized Software 276.4 (254.6) 21.8 270.3 (245.8) 24.5 Other 4.7 (3.7) 1.0 13.8 (9.1) 4.7 $ 1,104.7 $ (501.0) $ 603.7 $ 1,072.8 $ (444.5) $ 628.3 Intangible assets not Trade names $ 129.0 $ 129.0 $ 121.5 $ 121.5 FAA air agency certificates 8.7 8.7 8.7 8.7 $ 137.7 $ 137.7 $ 130.2 $ 130.2 Total intangible assets $ 1,242.4 $ (501.0) $ 741.4 $ 1,203.0 $ (444.5) $ 758.5

Leasing (Tables)

Leasing (Tables)	12 Months Ended
Leasing (Tables)	Dec. 31, 2020
Leases [Abstract]
Lease Cost	Lease expense for the years ended December 31, 2020 and 2019 was as follows: December 31, 2020 December 31, 2019 Operating lease expense $ 36.0 $ 36.6 Amortization of right-of-use assets on finance leases 1.5 1.2 Total lease expense $ 37.5 $ 37.8
Impact of Leasing on Consolidated Balance Sheet	The following tables present the impact of leasing on the Consolidated Balance Sheet. Operating Leases December 31, 2020 December 31, 2019 Lease assets: Operating lease assets $ 118.2 $ 114.1 Lease liabilities: Short-term operating lease liabilities $ 27.2 $ 28.3 Long-term operating lease liabilities 75.5 71.3 Total operating lease liabilities $ 102.7 $ 99.6
Finance Lease, Disclosure	Finance Leases December 31, 2020 December 31, 2019 Lease assets: Property, plant and equipment, net $ 5.3 $ 5.0 Lease liabilities: Current portion of long-term debt $ 0.8 $ 0.5 Long-term debt 2.9 2.9 Total finance lease liabilities $ 3.7 $ 3.4
Contractual Obligation, Fiscal Year Maturity	Future minimum lease payments under non-cancellable leases at December 31, 2020 were as follows: Operating Leases Finance Leases Year Ending December 31, 2021 $ 30.2 $ 1.5 2022 23.5 1.3 2023 16.0 0.6 2024 10.5 0.3 2025 8.6 0.1 Thereafter 24.7 — Total future minimum lease payments $ 113.5 $ 3.8 Less: imputed interest (10.8) (0.1) Total $ 102.7 $ 3.7
Leases, Disclosures	The following tables present other information related to leases: December 31, 2020 December 31, 2019 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 35.7 $ 35.6 Financing cash flows from finance leases 1.2 1.6 Lease assets added in the period: Operating leases $ 39.9 $ 58.6 Finance leases 0.9 2.0 December 31, 2020 December 31, 2019 Weighted-average remaining lease term: Operating leases 5.1 years 5.3 years Finance leases 2.9 years 3.3 years Weighted-average discount rate: Operating leases 3.69 % 3.87 % Finance leases 2.55 % 2.55 %

Financing Arrangements (Tables)

Financing Arrangements (Tables)	12 Months Ended
Financing Arrangements (Tables)	Dec. 31, 2020
Debt Disclosure [Abstract]
Short-Term Debt	Short-term debt as of December 31, 2020 and 2019 was as follows: 2020 2019 Variable-rate Accounts Receivable Facility with an interest rate of 0.96% at December 31, 2020 and of 2.77% at December 31, 2019 $ 58.0 $ 1.8 Borrowings under lines of credit for certain of the Company’s foreign subsidiaries with various banks with interest rates ranging from 0.24% to 1.75% at December 31, 2020 and 0.27% to 1.75% at December 31, 2019 61.8 15.5 Short-term debt $ 119.8 $ 17.3
Long-Term Debt	Long-term debt as of December 31, 2020 and 2019 was as follows: 2020 2019 Variable-rate Senior Credit Facility with an average interest rate on U.S. Dollar of 2.01% and Euro of 1.48% at December 31, 2020 and 2.85% and 1.00%, respectively, at December 31, 2019 $ 9.7 $ 132.7 Variable-rate Euro Term Loan (1) , matured on September 18, 2020, with an interest rate of 1.13% at December 31, 2019. — 54.4 Variable-rate Accounts Receivable Facility, with an interest rate of 2.77% at December 31, 2019. — 98.2 Variable-rate Term Loan (1) , maturing on September 11, 2023, with an interest rate of 1.63% at December 31, 2020 and of 2.92% at December 31, 2019. 329.6 338.5 Fixed-rate Senior Unsecured Notes (1) , maturing on September 1, 2024, with an interest rate of 3.875% 349.0 348.5 Fixed-rate Euro Senior Unsecured Notes (1) , maturing on September 7, 2027, with an interest rate of 2.02% 182.9 167.7 Fixed-rate Senior Unsecured Notes (1) , maturing on December 15, 2028, with an interest rate of 4.50% 396.5 396.1 Fixed-rate Medium-Term Notes, Series A (1) , maturing at various dates through May 2028, with interest rates ranging from 6.74% to 7.76% 154.7 154.6 Fixed-rate Bank Loan, maturing on June 30, 2033, with an interest rate of 2.15% 18.8 18.0 Other 3.6 4.1 Total debt $ 1,444.8 $ 1,712.8 Less current maturities 10.9 64.7 Long-term debt $ 1,433.9 $ 1,648.1
Schedule of Maturities of Long-term Debt	The maturities of long-term debt (including $3.7 million of finance leases) for the five years subsequent to December 31, 2020 are as follows: Year 2021 $ 10.9 2022 10.2 2023 10.2 2024 304.5 2025 360.0 Thereafter 749.0

Stock Compensation (Tables)

Stock Compensation (Tables)	12 Months Ended
Stock Compensation (Tables)	Dec. 31, 2020
Share-based Payment Arrangement [Abstract]
Summary of Significant Stock Options Granted	The fair value of stock option awards granted in 2019 and 2018 was estimated at the date of grant using a Black-Scholes option-pricing method with the following assumptions: 2019 2018 Weighted-average fair value per option $ 9.58 $ 10.29 Risk-free interest rate 2.46 % 2.62 % Dividend yield 2.52 % 2.30 % Expected stock volatility 28.29 % 27.78 % Expected life - years 5 5
Summary of Stock Option Activity	A summary of stock option award activity for the year ended December 31, 2020 is presented below: Number of Shares Weighted-average Exercise Price Weighted-average Remaining Contractual Term Aggregate Intrinsic Value (millions) Outstanding - beginning of year 2,913,272 $ 40.10 Exercised (956,258) 39.07 Canceled of expired (52,265) 43.27 Outstanding - end of year 1,904,749 $ 40.53 7 years $ 70.1 Options expected to vest 1,904,749 40.53 7 years 70.1 Options exercisable 1,259,075 38.94 6 years 48.4
Share-Based Compensation Arrangements by Share-based Payment Award	A summary of those awards granted in 2020 is presented below: Expected to be Settled in Equity Expected to be Settled in Cash Total Awards Granted Performance-based restricted stock units 442,371 11,251 453,622 Time-based restricted stock units 204,550 4,480 209,030 Deferred shares 5,000 — 5,000
Summary of Restricted Share Activity	A summary of stock award activity, including performance-based restricted stock units, time-based restricted stock units and deferred shares that will settle in common shares for the year ended December 31, 2020 is as follows: Number of Shares Weighted-average Outstanding - beginning of year 1,106,386 $ 43.13 Granted - new awards 651,921 50.05 Vested (557,590) 43.76 Canceled or expired (75,245) 47.97 Outstanding - end of year 1,125,472 $ 46.50

Impairment and Restructuring _2

Impairment and Restructuring Charges (Tables)	12 Months Ended
Impairment and Restructuring Charges (Tables)	Dec. 31, 2020
Restructuring Charges [Abstract]
Restructuring, Impairment, and Other Activities Disclosure	Impairment and restructuring charges by segment were as follows: Year ended December 31, 2020: Mobile Process Unallocated Corporate Total Impairment charges $ 0.2 $ 0.2 $ — $ 0.4 Severance expense and related benefit costs 8.2 11.0 0.4 19.6 Exit costs 0.6 0.6 — 1.2 Total $ 9.0 $ 11.8 $ 0.4 $ 21.2 Year ended December 31, 2019: Mobile Process Unallocated Corporate Total Impairment charges $ 1.8 $ 0.8 $ — $ 2.6 Severance expense and related benefit costs 1.6 0.9 0.5 3.0 Exit costs 0.2 1.0 — 1.2 Total $ 3.6 $ 2.7 $ 0.5 $ 6.8
Restructuring and Related Costs	The following is a rollforward of the consolidated restructuring accrual for the years ended December 31, 2020 and 2019: 2020 2019 Beginning balance, January 1 $ 2.7 $ 2.7 Expense 20.8 4.2 Payments (15.5) (4.2) Ending balance, December 31 $ 8.0 $ 2.7

Retirement Benefit Plans (Table

Retirement Benefit Plans (Tables)	12 Months Ended
Retirement Benefit Plans (Tables)	Dec. 31, 2020
Defined Benefit Plan Disclosure [Line Items]
Fair Value, Assets Measured on Recurring Basis	The following tables present the fair value hierarchy for those assets and liabilities on the Consolidated Balance Sheets measured at fair value on a recurring basis as of December 31, 2020 and 2019: December 31, 2020 Total Level 1 Level 2 Level 3 Assets: Cash and cash equivalents $ 320.3 $ 318.6 $ 1.7 $ — Restricted cash 0.8 0.8 — — Short-term investments 37.6 — 37.6 — Foreign currency hedges 1.1 — 1.1 — Total Assets $ 359.8 $ 319.4 $ 40.4 $ — Liabilities: Foreign currency hedges $ 8.1 $ — $ 8.1 $ — Total Liabilities $ 8.1 $ — $ 8.1 $ — December 31, 2019 Total Level 1 Level 2 Level 3 Assets: Cash and cash equivalents $ 160.7 $ 158.2 $ 2.5 $ — Cash and cash equivalents measured at net 48.8 Restricted cash 6.7 6.7 — — Short-term investments 25.7 — 25.7 — Short-term investments measured at net asset value 0.1 Foreign currency hedges 7.6 — 7.6 — Total Assets $ 249.6 $ 164.9 $ 35.8 $ — Liabilities: Foreign currency hedges $ 1.4 $ — $ 1.4 $ — Total Liabilities $ 1.4 $ — $ 1.4 $ —
Accrued pension cost
Defined Benefit Plan Disclosure [Line Items]
Schedule of Defined Benefit Plans Disclosures	The following tables summarize the net periodic benefit cost information and the related assumptions used to measure the net periodic benefit cost for the years ended December 31: U.S. Plans International Plans 2020 2019 2018 2020 2019 2018 Components of net periodic benefit cost: Service cost $ 10.7 $ 10.7 $ 12.6 $ 1.8 $ 1.5 $ 1.7 Interest cost 21.0 23.5 24.0 5.5 7.3 7.2 Expected return on plan assets (25.3) (25.8) (29.3) (8.7) (10.2) (11.6) Amortization of prior service cost 1.6 1.6 1.7 0.2 0.2 0.1 Recognition of net actuarial (gains) (3.9) (3.5) 30.0 20.1 17.4 8.8 Curtailment losses (gains) 0.9 — (10.2) — — — Net periodic benefit cost $ 5.0 $ 6.5 $ 28.8 $ 18.9 $ 16.2 $ 6.2
Defined Benefit Plan, Assumptions	Assumptions 2020 2019 2018 U.S. Plans: Discount rate 3.04% to 3.55% 3.67% to 4.43% 3.75% to 3.94% Future compensation assumption 2.50 % 2.50 % 2.50 % Expected long-term return on plan assets 4.50% to 6.25% 5.35% to 6.25% 5.75% to 6.50% International Plans: Discount rate 0.75% to 9.00% 1.50% to 11.00% 1.25% to 9.00% Future compensation assumption 2.00% to 8.20% 2.00% to 8.23% 2.00% to 8.00% Expected long-term return on plan assets 1.75% to 9.00% 2.50% to 9.00% 2.50% to 9.00% Assumptions 2020 2019 U.S. Plans: Discount rate 2.71% to 2.91% 3.04% to 3.55% Future compensation assumption 2.50 % 2.50 % International Plans: Discount rate 0.25% to 7.75% 0.75 % Future compensation assumption 1.90% to 8.18% 2.00% to 8.20%
Schedule of Changes in Projected Benefit Obligations	The following tables set forth the change in benefit obligation, change in plan assets, funded status and amounts recognized on the Consolidated Balance Sheets for the defined benefit pension plans as of December 31, 2020 and 2019: U.S. Plans International Plans 2020 2019 2020 2019 Change in benefit obligation: Benefit obligation at beginning of year $ 634.7 $ 586.6 $ 328.8 $ 300.3 Service cost 10.7 10.7 1.8 1.5 Interest cost 21.0 23.5 5.5 7.3 Plan amendments 0.1 — — — Actuarial losses 56.6 74.9 43.9 29.1 International plan exchange rate change — — 14.1 7.6 Curtailments 0.3 — — — Benefits paid (60.3) (61.0) (14.4) (17.4) Acquisitions — — — 0.4 Benefit obligation at end of year $ 663.1 $ 634.7 $ 379.7 $ 328.8
Schedule of Changes in Fair Value of Plan Assets	U.S. Plans International Plans 2020 2019 2020 2019 Change in plan assets: Fair value of plan assets at beginning of year $ 520.2 $ 448.3 $ 274.7 $ 254.6 Actual return on plan assets 85.8 104.2 32.5 21.9 Company contributions / payments 7.6 28.7 10.3 6.7 International plan exchange rate change — — 9.7 8.9 Benefits paid (60.3) (61.0) (14.4) (17.4) Fair value of plan assets at end of year 553.3 520.2 312.8 274.7 Funded status at end of year $ (109.8) $ (114.5) $ (66.9) $ (54.1)
Defined Benefit Plans Amounts recognized on the Consolidated Balance Sheets	Amounts recognized on the Consolidated Balance Sheets: Non-current assets $ 1.8 $ — $ 0.2 $ 3.4 Current liabilities (14.2) (5.4) (1.5) (1.5) Non-current liabilities (97.4) (109.1) (65.6) (56.0) $ (109.8) $ (114.5) $ (66.9) $ (54.1)
Defined Benefit Plans Amounts recognized in accumulated other comprehensive income	Amounts recognized in accumulated other comprehensive loss: Net prior service cost $ 2.7 $ 4.8 $ 3.9 $ 3.9 Accumulated other comprehensive loss $ 2.7 $ 4.8 $ 3.9 $ 3.9 Changes in prior service cost recognized in accumulated other comprehensive loss: Accumulated other comprehensive loss at beginning of year $ 4.8 $ 6.4 $ 3.9 $ 4.0 Prior service cost 0.1 — — — Recognized prior service cost (1.6) (1.6) (0.2) (0.2) Loss recognized due to curtailment (0.6) — — — Foreign currency impact — — 0.2 0.1 Total recognized in accumulated other comprehensive loss $ 2.7 $ 4.8 $ 3.9 $ 3.9
Target Assets Allocation and Actual Asset Allocations for US Pension Plan Assets	The Company’s target allocation for pension plan assets, as well as the actual pension plan asset allocations as of December 31, 2020 and 2019, was as follows: Current Target Percentage of Pension Plan Asset Category 2020 2019 Equity securities 18% to 24% 22% 21% Fixed income securities 70% to 82% 75% 74% Other investments 2% to 4% 3% 5% Total 100% 100%
Fair Value, Assets Measured on Recurring Basis	The following table presents the fair value hierarchy for those investments of the Company’s pension assets measured at fair value on a recurring basis: December 31, 2020 December 31, 2019 Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Total Assets: Cash and cash equivalents $ 37.1 $ — $ — $ 37.1 $ 17.1 $ — $ — $ 17.1 Government and agency securities 45.1 3.0 — 48.1 35.8 3.0 — 38.8 Corporate bonds - investment grade — 99.5 — 99.5 — 79.5 — 79.5 Equity securities - U.S. companies — — — — 0.1 — — 0.1 Common collective funds - fixed income 44.5 — — 44.5 42.0 — — 42.0 Mutual funds - fixed income 55.4 — — 55.4 66.9 — — 66.9 Mutual funds - international equity 60.4 — — 60.4 36.0 — — 36.0 Mutual funds - domestic equity — — — — 3.2 — — 3.2 Mutual funds - other assets — — — — 1.4 — — 1.4 $ 242.5 $ 102.5 $ — $ 345.0 $ 202.5 $ 82.5 $ — $ 285.0 Investments measured at net asset value: Cash and cash equivalents $ — $ 0.2 Equity securities - international companies 0.3 1.0 Common collective funds - domestic equities 63.2 76.3 Common collective funds - international equities 42.6 31.9 Common collective funds - fixed income 203.8 202.5 Common collective funds - diversified growth 20.1 17.9 Limited partnerships 13.2 18.7 Real estate partnerships 7.7 11.2 Other liability-driven investments 144.4 128.2 Other assets 25.8 22.0 Total Assets $ 866.1 $ 794.9
Employer Contributions to Defined Benefit Plans	Employer Contributions to Defined Benefit Plans 2019 $ 35.4 2020 17.9 2021 (estimated) 16.0
Future Pension Benefit Payments	Estimated future benefit payments, including estimated lump sum distributions, are expected to be as follows: Benefit Payments 2021 $ 98 2022 74 2023 72 2024 64 2025 62 2026-2030 270

Accumulated Other Comprehensi_2

Accumulated Other Comprehensive Income (Loss) (Tables)	12 Months Ended
Accumulated Other Comprehensive Income (Loss) (Tables)	Dec. 31, 2020
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]
Accumulated Other Comprehensive Income Components Reclassification	The following tables present details about components of accumulated other comprehensive (loss) income for the years ended December 31, 2020 and December 31, 2019, respectively: Foreign currency Pension and postretirement Change in fair value of Total Balance at December 31, 2019 $ (115.3) $ 66.9 $ (1.7) $ (50.1) Other comprehensive income (loss) before reclassifications and income taxes 92.7 2.8 (1.2) 94.3 Amounts reclassified from accumulated other comprehensive (loss) income, before income tax — (7.4) (2.3) (9.7) Income tax benefit — 1.1 1.1 2.2 Net current period other comprehensive income (loss), net of income taxes 92.7 (3.5) (2.4) 86.8 Noncontrolling interest 4.6 — — 4.6 Net current period comprehensive income (loss), net of income taxes and noncontrolling interest 97.3 (3.5) (2.4) 91.4 Balance at December 31, 2020 $ (18.0) $ 63.4 $ (4.1) $ 41.3 Foreign currency Pension and postretirement Change in fair value of Total Balance at December 31, 2018 $ (95.6) $ — $ 0.3 $ (95.3) Other comprehensive income (loss) before reclassifications and income taxes (19.9) 92.7 1.2 74.0 Amounts reclassified from accumulated other comprehensive (loss) income, before income tax — (3.6) (3.8) (7.4) Income tax (expense) benefit — (22.2) 0.6 (21.6) Net current period other comprehensive income (loss), net of income taxes (19.9) 66.9 (2.0) 45.0 Noncontrolling interest 0.2 — — 0.2 Net current period comprehensive income (loss), net of income taxes and noncontrolling interest (19.7) 66.9 (2.0) 45.2 Balance at December 31, 2019 $ (115.3) $ 66.9 $ (1.7) $ (50.1)

Fair Value (Tables)

Fair Value (Tables)	12 Months Ended
Fair Value (Tables)	Dec. 31, 2020
Fair Value Disclosures [Abstract]
Fair Value, Assets Measured on Recurring Basis	The following tables present the fair value hierarchy for those assets and liabilities on the Consolidated Balance Sheets measured at fair value on a recurring basis as of December 31, 2020 and 2019: December 31, 2020 Total Level 1 Level 2 Level 3 Assets: Cash and cash equivalents $ 320.3 $ 318.6 $ 1.7 $ — Restricted cash 0.8 0.8 — — Short-term investments 37.6 — 37.6 — Foreign currency hedges 1.1 — 1.1 — Total Assets $ 359.8 $ 319.4 $ 40.4 $ — Liabilities: Foreign currency hedges $ 8.1 $ — $ 8.1 $ — Total Liabilities $ 8.1 $ — $ 8.1 $ — December 31, 2019 Total Level 1 Level 2 Level 3 Assets: Cash and cash equivalents $ 160.7 $ 158.2 $ 2.5 $ — Cash and cash equivalents measured at net 48.8 Restricted cash 6.7 6.7 — — Short-term investments 25.7 — 25.7 — Short-term investments measured at net asset value 0.1 Foreign currency hedges 7.6 — 7.6 — Total Assets $ 249.6 $ 164.9 $ 35.8 $ — Liabilities: Foreign currency hedges $ 1.4 $ — $ 1.4 $ — Total Liabilities $ 1.4 $ — $ 1.4 $ —

Derivative Instruments (Tables)

Derivative Instruments (Tables)	12 Months Ended
Derivative Instruments (Tables)	Dec. 31, 2020
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivatives Not Designated as Hedging Instruments	The following table presents the impact of derivative instruments not designated as hedging instruments for the years ended December 31, 2020, 2019 and 2018, and the related location within the Consolidated Statements of Income. Amount of gain or (loss) Year Ended December 31, Derivatives not designated as hedging instruments Location of gain or (loss) recognized in income 2020 2019 2018 Foreign currency forward contracts Other income (expense), net $ (3.7) $ 5.9 $ 5.1

Research and Development (Table

Research and Development (Tables)	12 Months Ended
Research and Development (Tables)	Dec. 31, 2020
Research and Development [Abstract]
Research and Development Arrangement	Year Ended December 31, Expenditures as a percentage of sales 2020 2019 2018 Research and Development Expense 1.2 % 1.1 % 1.0 % Engineering Expense 1.0 % 1.3 % 1.3 % Total 2.2 % 2.4 % 2.3 %

Quarterly Financial Data (Table

Quarterly Financial Data (Tables)	12 Months Ended
Quarterly Financial Data (Tables)	Dec. 31, 2020
Quarterly Financial Information Disclosure [Abstract]
Schedule of Quarterly Financial Information	2020 1st 2nd 3rd 4th Total Net sales $ 923.4 $ 803.5 $ 894.6 $ 891.7 $ 3,513.2 Gross profit 278.9 230.3 263.7 237.0 1,009.9 Selling, general and administrative expenses 153.6 111.8 132.7 135.7 533.8 Impairment and restructuring charges 3.6 3.1 12.0 2.5 21.2 Net income (1) 84.0 61.8 91.3 55.3 292.4 Net income attributable to noncontrolling interests 3.3 (0.1) 2.5 2.2 7.9 Net income attributable to The Timken Company 80.7 61.9 88.8 53.1 284.5 Net income per share - Basic: $ 1.07 $ 0.82 $ 1.18 $ 0.70 $ 3.78 Net income per share - Diluted: $ 1.06 $ 0.82 $ 1.16 $ 0.69 $ 3.72 Dividends per share $ 0.28 $ 0.28 $ 0.28 $ 0.29 $ 1.13 2019 1st 2nd 3rd 4th Total Net sales $ 979.7 $ 1,000.0 $ 914.0 $ 896.2 $ 3,789.9 Gross profit 302.6 305.7 277.5 256.0 1,141.8 Selling, general and administrative expenses 152.7 158.7 148.0 159.2 618.6 Impairment and restructuring charges — 1.9 1.6 3.3 6.8 Net income (2) 95.3 94.9 66.7 117.8 374.7 Net income attributable to noncontrolling interests 3.4 2.4 2.5 4.3 12.6 Net income attributable to The Timken Company 91.9 92.5 64.2 113.5 362.1 Net income per share - Basic: $ 1.21 $ 1.22 $ 0.85 $ 1.51 $ 4.78 Net income per share - Diluted: $ 1.19 $ 1.20 $ 0.84 $ 1.48 $ 4.71 Dividends per share $ 0.28 $ 0.28 $ 0.28 $ 0.28 $ 1.12 Earnings per share are computed independently for each of the quarters presented; therefore, the sum of the quarterly earnings per share may not equal the total computed for the year. (1) Net income for the second quarter of 2020 included net actuarial losses of $8.8 million. Net income for the third quarter of 2020 included net actuarial gains of $11.9 million and impairment and restructuring charges of $12.0 million. Net income for the fourth quarter of 2020 included net actuarial losses of $21.6 million. (2) Net income for the third quarter of 2019 included net actuarial losses of $16.9 million, Net income for the fourth quarter of 2019 included the reversal of tax valuation allowances of $44.5 million and net actuarial gains of $21.1 million.

Significant Accounting Polici_3

Significant Accounting Policies - Revenue Recognition (Details) - USD ($)	3 Months Ended								12 Months Ended
	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Change in Accounting Estimate [Line Items]
Net sales	$ 891,700,000	$ 894,600,000	$ 803,500,000	$ 923,400,000	$ 896,200,000	$ 914,000,000	$ 1,000,000,000	$ 979,700,000	$ 3,513,200,000	$ 3,789,900,000	$ 3,580,800,000
Contracts Accounted for under Percentage of Completion
Change in Accounting Estimate [Line Items]
Net sales									0.90
Minimum \| Transferred at Point in Time
Change in Accounting Estimate [Line Items]
Net sales									85
Minimum \| Transferred over Time
Change in Accounting Estimate [Line Items]
Net sales									10
Maximum \| Transferred at Point in Time
Change in Accounting Estimate [Line Items]
Net sales									90
Maximum \| Transferred over Time
Change in Accounting Estimate [Line Items]
Net sales									$ 15

Significant Accounting Polici_4

Significant Accounting Policies - Restricted Cash (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Accounting Policies [Abstract]
Restricted cash	$ 0.8	$ 6.7

Significant Accounting Polici_5

Significant Accounting Policies - Inventories (Details)	Dec. 31, 2020
Accounting Policies [Abstract]
Percentage of FIFO Inventory	61.00%
Percentage of inventories valued by LIFO method	39.00%

Significant Accounting Polici_6

Significant Accounting Policies - Short Term Investments (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Change in Accounting Estimate [Line Items]
Short-term investments		$ 0.1
Fair Value, Recurring
Change in Accounting Estimate [Line Items]
Short-term investments	$ 37.6	25.7
Level 2 \| Fair Value, Recurring
Change in Accounting Estimate [Line Items]
Short-term investments	$ 37.6	$ 25.7

Significant Accounting Polici_7

Significant Accounting Policies - Property, Plant and Equipment (Details)	12 Months Ended
	Dec. 31, 2020
Building
Property, Plant and Equipment [Line Items]
Useful life for property, plant and equipment	30 years
Capitalized Software \| Minimum
Property, Plant and Equipment [Line Items]
Useful life for property, plant and equipment	3 years
Capitalized Software \| Maximum
Property, Plant and Equipment [Line Items]
Useful life for property, plant and equipment	10 years
Machinery and Equipment \| Minimum
Property, Plant and Equipment [Line Items]
Useful life for property, plant and equipment	3 years
Machinery and Equipment \| Maximum
Property, Plant and Equipment [Line Items]
Useful life for property, plant and equipment	20 years

Significant Accounting Polici_8

Significant Accounting Policies - Goodwill and Intangible Assets (Details)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Minimum
Goodwill [Line Items]
Useful life for intangible assets	1 year	2 years
Maximum
Goodwill [Line Items]
Useful life for intangible assets	20 years	20 years

Significant Accounting Polici_9

Significant Accounting Policies - Foreign Currency (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Accounting Policies [Abstract]
Foreign currency transaction gain (loss), before tax	$ 10	$ 6.1	$ 3.6

Acquisitions - Narrative (Detai

Acquisitions - Narrative (Details) $ in Millions	Nov. 01, 2019	Apr. 30, 2020USD ($)	May 31, 2019USD ($)	Jan. 31, 2019USD ($)	Dec. 31, 2020USD ($)acquisition	Dec. 31, 2019USD ($)acquisition	Dec. 31, 2018USD ($)
Business Acquisition [Line Items]
Consideration transferred					$ 0.5
Goodwill, purchase accounting adjustments					8.4
Bargain purchase price gain					11.1	$ 0	$ 0
Cash paid for acquisitions, net of cash acquired					24	226.5	$ 765.4
Goodwill, other					$ 45.5	$ (12.9)
2020 Acquisitions
Business Acquisition [Line Items]
Number of acquisitions \| acquisition					1
Consideration transferred					$ 17.8
Working capital adjustment related to 2018 acquisitions paid in 2019					0
Bargain purchase price gain					11.1
Cash paid for acquisitions, net of cash acquired					24
Aurora
Business Acquisition [Line Items]
Revenue reported by acquired entity					$ 30
2019 Acquisitions
Business Acquisition [Line Items]
Number of acquisitions \| acquisition						2
Working capital adjustment related to 2018 acquisitions paid in 2019						$ 2.9
Bargain purchase price gain						0
Cash paid for acquisitions, net of cash acquired						226.5
Purchase price adjustments			$ 4.8
Goodwill, other						$ 1.9
BEKA
Business Acquisition [Line Items]
Effective date of acquisition	Nov. 1, 2019
Working capital adjustment related to 2018 acquisitions paid in 2019		$ 6.7
Cone Drive
Business Acquisition [Line Items]
Cash paid for acquisitions, net of cash acquired				$ 2.9

Acquisitions - Purchase Price A

Acquisitions - Purchase Price Allocation Identifiable Intangible Assets (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Business Acquisition Purchase Price Allocation Identifiable Intangible Assets [Line Items]
Operating lease expense	$ 118.2	$ 114.1
Goodwill	1,047.6	993.7	$ 960.5
Bargain purchase price gain	(11.1)	0	0
Cash paid for acquisitions, net of cash acquired	24	226.5	$ 765.4
2020 Acquisitions
Business Acquisition Purchase Price Allocation Identifiable Intangible Assets [Line Items]
Accounts receivable	2.7
Inventories	16.4
Other current assets	0.1
Property, plant and equipment	10.9
Operating lease expense	0
Goodwill	0
Other intangible assets	0
Other non-current assets	0
Total assets acquired	30.1
Accounts payable, trade	0.8
Long-term debt	0
Deferred taxes	0
Total liabilities assumed	1.7
Noncontrolling interest acquired	0
Net assets acquired	28.4
Working capital adjustment related to 2018 acquisitions paid in 2019	0
Working capital adjustment for 2019 acquisitions paid (recognized) in 2020	6.7
Indemnification settlement received	0
Bargain purchase price gain	(11.1)
Cash paid for acquisitions, net of cash acquired	24
2019 Acquisitions
Business Acquisition Purchase Price Allocation Identifiable Intangible Assets [Line Items]
Accounts receivable		26.1
Inventories		59.4
Other current assets		5.1
Property, plant and equipment		57.4
Operating lease expense		5.1
Goodwill	52.6	52.6
Other intangible assets		84.3
Other non-current assets		0.9
Total assets acquired		290.9
Accounts payable, trade		10.6
Long-term debt		17.2
Deferred taxes		2.9
Total liabilities assumed		54
Noncontrolling interest acquired		1.8
Net assets acquired		235.1
Working capital adjustment related to 2018 acquisitions paid in 2019		2.9
Working capital adjustment for 2019 acquisitions paid (recognized) in 2020		(6.7)
Indemnification settlement received		(4.8)
Bargain purchase price gain		0
Cash paid for acquisitions, net of cash acquired		226.5
Salaries, wages and benefits \| 2020 Acquisitions
Business Acquisition Purchase Price Allocation Identifiable Intangible Assets [Line Items]
Other current liabilities	0
Salaries, wages and benefits \| 2019 Acquisitions
Business Acquisition Purchase Price Allocation Identifiable Intangible Assets [Line Items]
Other current liabilities		6.8
Income taxes payable \| 2020 Acquisitions
Business Acquisition Purchase Price Allocation Identifiable Intangible Assets [Line Items]
Other current liabilities	0
Income taxes payable \| 2019 Acquisitions
Business Acquisition Purchase Price Allocation Identifiable Intangible Assets [Line Items]
Other current liabilities		2.1
Other current liabilities \| 2020 Acquisitions
Business Acquisition Purchase Price Allocation Identifiable Intangible Assets [Line Items]
Other current liabilities	0.9
Other current liabilities \| 2019 Acquisitions
Business Acquisition Purchase Price Allocation Identifiable Intangible Assets [Line Items]
Other current liabilities		7.1
Short-term debt \| 2020 Acquisitions
Business Acquisition Purchase Price Allocation Identifiable Intangible Assets [Line Items]
Other current liabilities	0
Short-term debt \| 2019 Acquisitions
Business Acquisition Purchase Price Allocation Identifiable Intangible Assets [Line Items]
Other current liabilities		0.8
Long-term operating lease liabilities \| 2020 Acquisitions
Business Acquisition Purchase Price Allocation Identifiable Intangible Assets [Line Items]
Other current liabilities	0
Long-term operating lease liabilities \| 2019 Acquisitions
Business Acquisition Purchase Price Allocation Identifiable Intangible Assets [Line Items]
Other current liabilities		4.5
Other non-current liabilities \| 2020 Acquisitions
Business Acquisition Purchase Price Allocation Identifiable Intangible Assets [Line Items]
Other non-current liabilities	0
Other non-current liabilities \| 2019 Acquisitions
Business Acquisition Purchase Price Allocation Identifiable Intangible Assets [Line Items]
Other non-current liabilities		1.1
Accrued pension cost \| 2020 Acquisitions
Business Acquisition Purchase Price Allocation Identifiable Intangible Assets [Line Items]
Other non-current liabilities	0
Accrued pension cost \| 2019 Acquisitions
Business Acquisition Purchase Price Allocation Identifiable Intangible Assets [Line Items]
Other non-current liabilities		0.8
Accrued postretirement liability \| 2020 Acquisitions
Business Acquisition Purchase Price Allocation Identifiable Intangible Assets [Line Items]
Other non-current liabilities	$ 0
Accrued postretirement liability \| 2019 Acquisitions
Business Acquisition Purchase Price Allocation Identifiable Intangible Assets [Line Items]
Other non-current liabilities		$ 0.1

Acquisitions - Fair Value for I

Acquisitions - Fair Value for Identifiable Intangible Assets Acquired (Details) - USD ($)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2020
Business Acquisition [Line Items]
Intangible assets acquired		$ 0
2019 Acquisitions
Business Acquisition [Line Items]
Intangible assets acquired	$ 84,400,000
2019 Acquisitions \| Technology and know-how
Business Acquisition [Line Items]
Finite-lived intangible assets acquired	$ 22,400,000
Weighted- Average Life	17 years
2019 Acquisitions \| Customer relationships
Business Acquisition [Line Items]
Finite-lived intangible assets acquired	$ 33,300,000
Weighted- Average Life	19 years
2019 Acquisitions \| Capitalized Software
Business Acquisition [Line Items]
Intangible assets acquired	$ 500,000
Weighted- Average Life	2 years
2019 Acquisitions \| Trade names
Business Acquisition [Line Items]
Indefinite-lived intangible assets acquired	$ 28,200,000

Revenue - Disaggregation of Rev

Revenue - Disaggregation of Revenue (Details) - USD ($) $ in Millions	3 Months Ended								12 Months Ended
	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Disaggregation of Revenue [Line Items]
Net sales	$ 891.7	$ 894.6	$ 803.5	$ 923.4	$ 896.2	$ 914	$ 1,000	$ 979.7	$ 3,513.2	$ 3,789.9	$ 3,580.8
Amount of revenue for remaining performance obligations	224.3								224.3
Movement in Deferred Revenue [Roll Forward]
Beginning balance				$ 129.2					129.2
Additional unbilled revenue recognized									393.6
Less: amounts billed to customers									(411.9)
Ending balance	$ 110.9				$ 129.2				$ 110.9	$ 129.2
U.S. Government \| Revenue Benchmark
Disaggregation of Revenue [Line Items]
Concentration risk percentage									8.00%	8.00%
Original equipment manufacturers \| Revenue Benchmark
Disaggregation of Revenue [Line Items]
Concentration risk percentage									60.00%	56.00%
Distribution/end users \| Revenue Benchmark
Disaggregation of Revenue [Line Items]
Concentration risk percentage									40.00%	44.00%
Transferred over Time \| Revenue Benchmark
Disaggregation of Revenue [Line Items]
Concentration risk percentage									11.00%	12.00%
United States
Disaggregation of Revenue [Line Items]
Net sales									$ 1,553.4	$ 1,828.1	1,798.3
Americas excluding United States
Disaggregation of Revenue [Line Items]
Net sales									306.1	377.3	385.6
Europe / Middle East / Africa
Disaggregation of Revenue [Line Items]
Net sales									846.9	880	762.7
China
Disaggregation of Revenue [Line Items]
Net sales									523.2	360.6	313.8
Asia-Pacific excluding China
Disaggregation of Revenue [Line Items]
Net sales									283.6	343.9	320.4
Mobile
Disaggregation of Revenue [Line Items]
Net sales									1,671.6	1,893.9	1,903.7
Mobile \| United States
Disaggregation of Revenue [Line Items]
Net sales									853.8	1,007.1	1,028.8
Mobile \| Americas excluding United States
Disaggregation of Revenue [Line Items]
Net sales									168.1	209.6	208.9
Mobile \| Europe / Middle East / Africa
Disaggregation of Revenue [Line Items]
Net sales									389.9	390.8	382.5
Mobile \| China
Disaggregation of Revenue [Line Items]
Net sales									102.2	92.1	95.4
Mobile \| Asia-Pacific excluding China
Disaggregation of Revenue [Line Items]
Net sales									157.6	194.3	188.1
Process
Disaggregation of Revenue [Line Items]
Net sales									1,841.6	1,896	1,677.1
Process \| United States
Disaggregation of Revenue [Line Items]
Net sales									699.6	821	769.5
Process \| Americas excluding United States
Disaggregation of Revenue [Line Items]
Net sales									138	167.7	176.7
Process \| Europe / Middle East / Africa
Disaggregation of Revenue [Line Items]
Net sales									457	489.2	380.2
Process \| China
Disaggregation of Revenue [Line Items]
Net sales									421	268.5	218.4
Process \| Asia-Pacific excluding China
Disaggregation of Revenue [Line Items]
Net sales									$ 126	$ 149.6	$ 132.3
Service Revenue \| Revenue Benchmark
Disaggregation of Revenue [Line Items]
Concentration risk percentage									4.00%	5.00%

Segment Information - Narrative

Segment Information - Narrative (Details)	12 Months Ended
Segment Information - Narrative (Details)	Dec. 31, 2020segment
Segment Reporting [Abstract]
Number of reporting units	2

Segment Information - Business

Segment Information - Business Information (Details) - USD ($) $ in Millions	3 Months Ended								12 Months Ended
	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Segment Reporting Information [Line Items]
Net sales	$ 891.7	$ 894.6	$ 803.5	$ 923.4	$ 896.2	$ 914	$ 1,000	$ 979.7	$ 3,513.2	$ 3,789.9	$ 3,580.8
Segment EBITDA									675.4	751.5	677.9
Recognition of net actuarial losses (gains)	(21.6)	$ (11.9)	$ (8.8)		(21.1)	$ (16.9)			(18.5)	4.1	(12.8)
Bargain purchase price gain									11.1	0	0
Depreciation and amortization									(167.1)	(160.6)	(146)
Interest expense, net									(63.9)	(67.2)	(49.6)
Income before income taxes									396.3	472.4	408.1
Assets employed at year-end:
Total assets	5,041.6				4,859.9				5,041.6	4,859.9
Capital expenditures:
Payments to acquire property, plant, and equipment									121.6	140.6	112.6
Depreciation and amortization:
Depreciation and amortization									167.1	160.6	146
Mobile Industries
Segment Reporting Information [Line Items]
Net sales									1,671.6	1,893.9	1,903.7
Segment EBITDA									232.5	284.9	272.2
Depreciation and amortization									(79.7)	(73.6)	(73.5)
Assets employed at year-end:
Total assets	2,082.2				2,109.9				2,082.2	2,109.9
Capital expenditures:
Payments to acquire property, plant, and equipment									70.5	74.2	48.3
Depreciation and amortization:
Depreciation and amortization									79.7	73.6	73.5
Process Industries
Segment Reporting Information [Line Items]
Net sales									1,841.6	1,896	1,677.1
Segment EBITDA									442.9	466.6	405.7
Depreciation and amortization									(86.6)	(86.2)	(71.9)
Assets employed at year-end:
Total assets	2,482.6				2,366.7				2,482.6	2,366.7
Capital expenditures:
Payments to acquire property, plant, and equipment									50.1	65.3	63.3
Depreciation and amortization:
Depreciation and amortization									86.6	86.2	71.9
Corporate
Segment Reporting Information [Line Items]
Corporate EBITDA									(40.7)	(55.4)	(61.4)
Depreciation and amortization									(0.8)	(0.8)	(0.6)
Assets employed at year-end:
Total assets	$ 476.8				$ 383.3				476.8	383.3
Capital expenditures:
Payments to acquire property, plant, and equipment									1	1.1	1
Depreciation and amortization:
Depreciation and amortization									$ 0.8	$ 0.8	$ 0.6

Segment Information - Geographi

Segment Information - Geographical Information (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Revenues from External Customers and Long-Lived Assets [Line Items]
Net property, plant and equipment	$ 1,035.6	$ 989.2
United States
Revenues from External Customers and Long-Lived Assets [Line Items]
Net property, plant and equipment	401.8	391.7
China
Revenues from External Customers and Long-Lived Assets [Line Items]
Net property, plant and equipment	196.4	183.4
India
Revenues from External Customers and Long-Lived Assets [Line Items]
Net property, plant and equipment	140	132.6
Romania
Revenues from External Customers and Long-Lived Assets [Line Items]
Net property, plant and equipment	118	105.3
Rest of world
Revenues from External Customers and Long-Lived Assets [Line Items]
Net property, plant and equipment	$ 179.4	$ 176.2

Income Taxes - Income Before In

Income Taxes - Income Before Income Taxes (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Income Before Income Taxes [Abstract]
United States	$ 144.1	$ 190.7	$ 202
Non-United States	252.2	281.7	206.1
Income Before Income Taxes	396.3	472.4	408.1
Current:
Federal	40.3	20.8	46.1
State and local	7.9	4.8	9.9
Foreign	78.9	81	68
Total current income tax expense (benefit)	127.1	106.6	124
Deferred:
Federal	(19.5)	39.8	(19.9)
State and local	(1.3)	6.5	(0.7)
Foreign	(2.4)	(55.2)	(0.8)
Deferred income tax provision	(23.2)	(8.9)	(21.4)
United States and foreign tax provision on income	$ 103.9	$ 97.7	$ 102.6

Income Taxes - Narrative (Detai

Income Taxes - Narrative (Details) - USD ($) $ in Millions	3 Months Ended	12 Months Ended
Income Taxes - Narrative (Details) - USD ($) $ in Millions	Dec. 31, 2019	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Income Taxes (Textual) [Abstract]
Income taxes paid		$ 119.3	$ 118.6	$ 121.3
Valuation allowance changes		0.7	44.5	0
Deferred taxes related to branch operations	$ 5.3	0	5.3	0
U.S. Tax Reform		0	0	(10.6)
Tax expense related to undistributed earnings of foreign subsidiaries		0.1	6	0
Earnings reinvested outside of U.S.	785.3	810.3	785.3
Tax loss and credit carryforwards	86	90.2	86
Valuation allowances	33.7	36.7	33.7
Total gross unrecognized tax benefits	38.9	45.6	38.9	26	$ 14
Amount of unrecorded benefit		8.4
Penalties and interest accrued	5	8.6	5	2.5
U.S. Tax Reform - Deferred Tax Impact
Income Taxes (Textual) [Abstract]
U.S. Tax Reform				8.2
U.S. Tax Reform - Unremitted Foreign Earnings
Income Taxes (Textual) [Abstract]
U.S. Tax Reform				$ 2.4
Domestic Country
Income Taxes (Textual) [Abstract]
Tax loss and credit carryforwards		6.7
Foreign Country
Income Taxes (Textual) [Abstract]
Tax loss and credit carryforwards		83.5
Valuation Allowance against Tax Credit Carryfowards
Income Taxes (Textual) [Abstract]
Valuation allowances		35.9
Valuation Allowance against Other Deferred Taxes
Income Taxes (Textual) [Abstract]
Valuation allowances		0.8
Favorable Impact Tax Benefits
Income Taxes (Textual) [Abstract]
Total gross unrecognized tax benefits	$ 36.1	$ 39.2	36.1
Europe / Middle East / Africa
Income Taxes (Textual) [Abstract]
Valuation allowance changes			$ 40.7

Income Taxes - Reconciliation (

Income Taxes - Reconciliation (Details) - USD ($) $ in Millions	3 Months Ended	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Summary of variation of effective income tax rate from continuing operations from the statutory federal income tax rate
Income tax at the U.S. federal statutory rate		$ 83.2	$ 99.2	$ 85.7
Adjustments:
State and local income taxes, net of federal tax benefit		4.8	7.4	6.8
Tax on foreign remittances and U.S. tax on foreign income		22.5	26.4	21.1
Tax expense related to undistributed earnings of foreign subsidiaries		0.1	6	0
Foreign losses without current tax benefits		2.5	3.2	3.7
Foreign earnings taxed at different rates including tax holidays		11.1	12.6	11.1
U.S. foreign tax credit		(13.8)	(18.3)	(21.2)
Accruals and settlements related to tax audits		3.4	11.1	(3.8)
Valuation allowance changes		(0.7)	(44.5)	0
Deferred taxes related to branch operations	$ 5.3	0	5.3	0
U.S. Tax Reform		0	0	(10.6)
Other tax rate change		0.8	(5)	(2.4)
Other items, net		(10)	(5.7)	12.2
United States and foreign tax provision on income		$ 103.9	$ 97.7	$ 102.6
Effective income tax rate		26.20%	20.70%	25.10%

Income Taxes - Deferred Tax Ass

Income Taxes - Deferred Tax Assets and Liabilities (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Deferred tax assets:
Accrued postretirement benefits cost	$ 15.4	$ 0.1
Accrued pension cost	57.4	55.1
Other employee benefit accruals	11	10.9
Tax loss and credit carryforwards	90.2	86
Other, net	46.7	46.9
Valuation allowances	(36.7)	(33.7)
Total deferred tax assets	184	165.3
Deferred tax liabilities - principally depreciation and amortization	(255.7)	(261.6)
Net deferred tax (liabilities) assets	$ (71.7)	$ (96.3)

Income Taxes - Unrecognized Tax

Income Taxes - Unrecognized Tax Benefits (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Summary of unrecognized tax benefits for the years ended
Beginning balance, January 1	$ 38.9	$ 26	$ 14
Additions	2.2	3.6	0.4
Tax positions related to prior years, additions	8.7	11.7	17.8
Tax positions related to prior years, reductions	(1)	(1.1)	(2.9)
Settlements with tax authorities	(0.3)	(1.2)	(2.2)
Lapses in statutes of limitation	(2.9)	(0.1)	(1.1)
Ending balance, December 31	$ 45.6	$ 38.9	$ 26

Earnings Per Share - Denominato

Earnings Per Share - Denominator of Basic and Diluted Earnings Per Share (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended								12 Months Ended
	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Numerator:
Net income attributable to The Timken Company	$ 53.1	$ 88.8	$ 61.9	$ 80.7	$ 113.5	$ 64.2	$ 92.5	$ 91.9	$ 284.5	$ 362.1	$ 302.8
Less: undistributed earnings allocated to nonvested stock									0	0	0
Net income available to common shareholders for basic and diluted earnings per share									$ 284.5	$ 362.1	$ 302.8
Denominator:
Weighted-average number of shares outstanding - basic (in shares)									75,354,280	75,758,123	77,119,602
Effect of dilutive securities:
Stock options and awards - based on the treasury stock method (in shares)									1,047,086	1,138,442	1,217,879
Weighted-average number of shares outstanding, assuming dilution of stock options and awards (in shares)									76,401,366	76,896,565	78,337,481
Basic earnings per share (in dollars per share)	$ 0.70	$ 1.18	$ 0.82	$ 1.07	$ 1.51	$ 0.85	$ 1.22	$ 1.21	$ 3.78	$ 4.78	$ 3.93
Diluted earnings per share (in dollars per share)	$ 0.69	$ 1.16	$ 0.82	$ 1.06	$ 1.48	$ 0.84	$ 1.20	$ 1.19	$ 3.72	$ 4.71	$ 3.86

Earnings Per Share - Narrative

Earnings Per Share - Narrative (Details) - shares	12 Months Ended
Earnings Per Share - Narrative (Details) - shares	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Earnings Per Share [Abstract]
Antidilutive stock options outstanding	676,627	1,016,435	1,139,146

Inventories - Components of Inv

Inventories - Components of Inventories (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Inventory Disclosure [Abstract]
Manufacturing supplies	$ 34.8	$ 34.2
Inventories:
Raw materials	99.5	100
Work in process	320.3	308.9
Finished products	441.2	439
Subtotal	895.8	882.1
Allowance for surplus and obsolete inventory	(54.5)	(40.1)
Total Inventories, net	$ 841.3	$ 842

Inventories - Narrative (Detail

Inventories - Narrative (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Inventory Disclosure [Abstract]
Percentage of inventories valued by FIFO method	61.00%
Percentage of inventories valued by LIFO method	39.00%
FIFO inventory amount	$ 172.1	$ 168.9
Inventory, LIFO reserve	$ 3.2	$ (5)

Property, Plant and Equipment -

Property, Plant and Equipment - Components of Property Plant and Equipment (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Property, Plant and Equipment [Line Items]
Subtotal	$ 2,741.5	$ 2,604.2
Less: accumulated depreciation	(1,705.9)	(1,615)
Property, Plant and Equipment, net	1,035.6	989.2
Land and buildings
Property, Plant and Equipment [Line Items]
Subtotal	535.3	510.9
Machinery and equipment
Property, Plant and Equipment [Line Items]
Subtotal	$ 2,206.2	$ 2,093.3

Property, Plant and Equipment_2

Property, Plant and Equipment - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Property, Plant and Equipment [Abstract]
Depreciation expense	$ 110.9	$ 103.3	$ 99.2

Goodwill and Other Intangible_3

Goodwill and Other Intangible Assets - Narrative (Details)	12 Months Ended
Goodwill and Other Intangible Assets - Narrative (Details)	Dec. 31, 2020USD ($)segment	Dec. 31, 2019USD ($)	Dec. 31, 2018USD ($)
Goodwill [Line Items]
Acquisitions		$ 46,100,000
Goodwill	$ 1,047,600,000	993,700,000	$ 960,500,000
Tax deductible	19,000,000
Goodwill, other	45,500,000	$ (12,900,000)
Intangible assets acquired	0
Amortization period		18 years 1 month 6 days
Goodwill and Other Intangible Assets (Textual) [Abstract]
Amortization expense for intangible assets	56,200,000	$ 57,300,000	46,800,000
Future amortization expense 2021	54,200,000
Future amortization expense year 2022	49,400,000
Future amortization expense year 2023	46,200,000
Future amortization expense year 2024	44,300,000
Future amortization expense year 2025	$ 43,200,000
Minimum
Goodwill [Line Items]
Useful life for intangible assets	1 year	2 years
Maximum
Goodwill [Line Items]
Useful life for intangible assets	20 years	20 years
2019 Acquisitions
Goodwill [Line Items]
Acquisitions	$ 8,400,000
Goodwill	$ 52,600,000	$ 52,600,000
Goodwill, other		1,900,000
Intangible assets acquired		84,400,000
Mobile
Goodwill [Line Items]
Number of reporting units \| segment	4
Acquisitions	$ 5,600,000	18,200,000
Goodwill	384,600,000	361,300,000	349,700,000
Goodwill, other	$ 17,700,000	(6,600,000)
Process
Goodwill [Line Items]
Number of reporting units \| segment	2
Acquisitions	$ 2,800,000	27,900,000
Goodwill	663,000,000	632,400,000	$ 610,800,000
Goodwill, other	$ 27,800,000	$ (6,300,000)

Goodwill and Other Intangible_4

Goodwill and Other Intangible Assets - Carrying Value of Goodwill (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Goodwill [Roll Forward]
Goodwill, beginning balance	$ 993.7	$ 960.5
Acquisitions		46.1
Foreign currency translation adjustments	45.5	(12.9)
Goodwill, ending balance	1,047.6	993.7
Mobile Industries
Goodwill [Roll Forward]
Goodwill, beginning balance	361.3	349.7
Acquisitions	5.6	18.2
Foreign currency translation adjustments	17.7	(6.6)
Goodwill, ending balance	384.6	361.3
Process Industries
Goodwill [Roll Forward]
Goodwill, beginning balance	632.4	610.8
Acquisitions	2.8	27.9
Foreign currency translation adjustments	27.8	(6.3)
Goodwill, ending balance	$ 663	$ 632.4

Goodwill and Other Intangible_5

Goodwill and Other Intangible Assets - Intangible Assets (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Intangible assets subject to amortization:
Intangible assets, gross carrying amount	$ 1,104.7	$ 1,072.8
Intangible assets, accumulated amortization	(501)	(444.5)
Intangible assets, net carrying amount	603.7	628.3
Trade names	129	121.5
Net indefinite lived intangible assets	137.7	130.2
Gross intangible assets (excluding goodwill)	1,242.4	1,203
Total intangible assets, net carrying amount	741.4	758.5
FAA air agency certificates
Intangible assets subject to amortization:
Net indefinite lived intangible assets	8.7	8.7
Customer relationships
Intangible assets subject to amortization:
Intangible assets, gross carrying amount	532.2	510.9
Intangible assets, accumulated amortization	(161.9)	(128.8)
Intangible assets, net carrying amount	370.3	382.1
Technology and know-how
Intangible assets subject to amortization:
Intangible assets, gross carrying amount	277.2	265.1
Intangible assets, accumulated amortization	(72)	(54.7)
Intangible assets, net carrying amount	205.2	210.4
Trade names
Intangible assets subject to amortization:
Intangible assets, gross carrying amount	14.2	12.7
Intangible assets, accumulated amortization	(8.8)	(6.1)
Intangible assets, net carrying amount	5.4	6.6
Trade names	129	121.5
Capitalized Software
Intangible assets subject to amortization:
Intangible assets, gross carrying amount	276.4	270.3
Intangible assets, accumulated amortization	(254.6)	(245.8)
Intangible assets, net carrying amount	21.8	24.5
Other
Intangible assets subject to amortization:
Intangible assets, gross carrying amount	4.7	13.8
Intangible assets, accumulated amortization	(3.7)	(9.1)
Intangible assets, net carrying amount	$ 1	$ 4.7

Leases - Lease Cost (Details)

Leases - Lease Cost (Details) - USD ($) $ in Millions	12 Months Ended
Leases - Lease Cost (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Leases [Abstract]
Operating Lease expense	$ 36	$ 36.6
Amortization of right-of-use assets on finance leases	1.5	1.2
Total lease expense	$ 37.5	$ 37.8

Leases - Impact of Leasing, Bal

Leases - Impact of Leasing, Balance Sheet (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Operating Leases
Operating lease assets	$ 118.2	$ 114.1
Short-term operating lease liabilities	27.2	28.3
Long-term operating lease liabilities	75.5	71.3
Total operating lease liabilities	102.7	99.6
Finance Leases
Property, plant and equipment, net	5.3	5
Current portion of long-term debt	0.8	0.5
Long-term debt	2.9	2.9
Total finance lease liabilities	$ 3.7	$ 3.4
Finance lease, right-of-use asset, statement of financial position [Extensible List]	us-gaap:PropertyPlantAndEquipmentAndFinanceLeaseRightOfUseAssetAfterAccumulatedDepreciationAndAmortization	us-gaap:PropertyPlantAndEquipmentAndFinanceLeaseRightOfUseAssetAfterAccumulatedDepreciationAndAmortization
Finance lease, liability, current, statement of financial position [Extensible List]	us-gaap:LongTermDebtCurrent	us-gaap:LongTermDebtCurrent
Finance lease, liability, noncurrent, statement of financial position [Extensible List]	us-gaap:LongTermDebtNoncurrent	us-gaap:LongTermDebtNoncurrent

Leases - Future Minimum Lease P

Leases - Future Minimum Lease Payments (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Operating Leases
2021	$ 30.2
2022	23.5
2023	16
2024	10.5
2025	8.6
Thereafter	24.7
Total future minimum lease payments	113.5
Less: imputed interest	(10.8)
Total operating lease liabilities	102.7	$ 99.6
Finance Leases
2021	1.5
2022	1.3
2023	0.6
2024	0.3
2025	0.1
Thereafter	0
Total future minimum lease payments	3.8
Less: imputed interest	(0.1)
Total finance lease liabilities	$ 3.7	$ 3.4

Leasing - Other Information Rel

Leasing - Other Information Related to the Lease (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$ 35.7	$ 35.6
Financing cash flows from finance leases	1.2	1.6
Lease assets added in the period:
Operating leases	39.9	58.6
Finance leases	$ 0.9	$ 2
Weighted-average remaining lease term:
Operating leases (in years)	5 years 1 month 6 days	5 years 3 months 18 days
Finance leases (in years)	2 years 10 months 24 days	3 years 3 months 18 days
Weighted-average discount rate:
Operating leases (percent)	3.69%	3.87%
Finance leases (percent)	2.55%	2.55%

Financing Arrangements - Short

Financing Arrangements - Short Term Debt (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Short-term Debt [Line Items]
Line of credit facility, interest rate at period end		2.77%
Short-term debt	$ 119.8	$ 17.3
Line of Credit Accounts Receivable Securitization
Short-term Debt [Line Items]
Line of credit facility, interest rate at period end	0.96%	2.77%
Short-term debt	$ 58	$ 1.8
Foreign Subsidiary
Short-term Debt [Line Items]
Short-term debt	$ 61.8	$ 15.5
Foreign Subsidiary \| Fixed Rate Lines of Credit
Short-term Debt [Line Items]
Line of credit stated variable interest rate low range	0.24%	0.27%
Line of credit stated variable interest rate, high range	1.75%	1.75%

Financing Arrangements - Narrat

Financing Arrangements - Narrative (Details) € in Millions	Sep. 11, 2018USD ($)	Dec. 31, 2020USD ($)covenant	Dec. 31, 2019USD ($)	Dec. 31, 2018USD ($)	Nov. 01, 2019EUR (€)
Line of Credit Facility [Line Items]
Remaining borrowing capacity		$ 83,900,000
Debt instrument yield rate		1.00%	2.80%	3.20%
Short-term debt		$ 119,800,000	$ 17,300,000
Weighted average interest rate, at point in time		0.80%	1.00%
Long-term debt		$ 1,444,800,000	$ 1,712,800,000
Cash and cash equivalents		320,300,000	209,500,000
Proceeds from long-term debt		562,000,000	662,800,000	$ 1,391,100,000
Interest paid		65,200,000	67,400,000	42,500,000
Interest capitalized		1,500,000	1,100,000	$ 400,000
Net Debt Construct
Line of Credit Facility [Line Items]
Cash and cash equivalents		25,000,000
Line of Credit Accounts Receivable Securitization
Line of Credit Facility [Line Items]
Maximum borrowing capacity		100,000,000
Remaining borrowing capacity		25,900,000
Current borrowing capacity		58,000,000
Short-term debt		58,000,000	1,800,000
Long-term debt		0	98,200,000
Foreign Subsidiary
Line of Credit Facility [Line Items]
Maximum borrowing capacity		277,400,000
Remaining borrowing capacity		214,900,000
Short-term debt		61,800,000	$ 15,500,000
Guarantor obligations		$ 700,000
Debt instrument, interest rate during period		0.60%	0.50%	0.60%
Senior Unsecured Notes - Variable Rate
Line of Credit Facility [Line Items]
Maximum borrowing capacity		$ 650,000,000
Remaining borrowing capacity		640,300,000
Long-term debt		$ 9,700,000	$ 132,700,000
Number of financial covenant \| covenant		2
Fixed Rate Bank Loan (BEKA)
Line of Credit Facility [Line Items]
Long-term debt		$ 18,800,000	18,000,000
Long-term debt \| €					€ 16
Debt instrument, maturity date		Jun. 30, 2033
Term Loan - Variable Rate
Line of Credit Facility [Line Items]
Long-term debt		$ 329,600,000	$ 338,500,000
Proceeds from long-term debt	$ 350,000,000

Financing Arrangements - Long-t

Financing Arrangements - Long-term Debt (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Debt Instrument [Line Items]
Line of credit facility, interest rate at period end		2.77%
Total debt	$ 1,444.8	$ 1,712.8
Less current maturities	10.9	64.7
Long-term debt	1,433.9	1,648.1
Senior Unsecured Notes - Variable Rate
Debt Instrument [Line Items]
Total debt	9.7	$ 132.7
Euro Term Loan - Variable Rate
Debt Instrument [Line Items]
Long-term debt, percentage bearing variable interest, percentage rate		1.13%
Total debt	$ 0	$ 54.4
Line of Credit Accounts Receivable Securitization
Debt Instrument [Line Items]
Line of credit facility, interest rate at period end	0.96%	2.77%
Total debt	$ 0	$ 98.2
Term Loan - Variable Rate
Debt Instrument [Line Items]
Long-term debt, percentage bearing variable interest, percentage rate	1.63%	2.92%
Total debt	$ 329.6	$ 338.5
Senior Unsecured Notes - 3.875%
Debt Instrument [Line Items]
Debt instrument, interest rate, stated percentage	3.875%
Total debt	$ 349	348.5
Euro Senior Unsecured Notes - 2.02%
Debt Instrument [Line Items]
Debt instrument, interest rate, stated percentage	2.02%
Total debt	$ 182.9	167.7
Senior Unsecured Notes - 4.5%
Debt Instrument [Line Items]
Debt instrument, interest rate, stated percentage	4.50%
Total debt	$ 396.5	396.1
Series A Medium Term Note
Debt Instrument [Line Items]
Total debt	$ 154.7	154.6
Series A Medium Term Note \| Minimum
Debt Instrument [Line Items]
Debt instrument, interest rate, stated percentage	6.74%
Series A Medium Term Note \| Maximum
Debt Instrument [Line Items]
Debt instrument, interest rate, stated percentage	7.76%
Fixed Rate Bank Loan (BEKA)
Debt Instrument [Line Items]
Debt instrument, interest rate, stated percentage	2.15%
Debt instrument, maturity date	Jun. 30, 2033
Total debt	$ 18.8	18
Other Long Term Debt
Debt Instrument [Line Items]
Total debt	$ 3.6	$ 4.1
United States \| Senior Unsecured Notes - Variable Rate
Debt Instrument [Line Items]
Debt instrument, interest rate, stated percentage	2.01%	2.85%
Europe \| Senior Unsecured Notes - Variable Rate
Debt Instrument [Line Items]
Debt instrument, interest rate, stated percentage	1.48%	1.00%

Financing Arrangements - Maturi

Financing Arrangements - Maturities (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Debt Disclosure [Abstract]
Total finance lease liabilities	$ 3.7	$ 3.4
2021	10.9
2022	10.2
2023	10.2
2024	304.5
2025	360
Thereafter	$ 749

Contingencies (Details)

Contingencies (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Commitments and Contingencies Disclosure [Abstract]
Accrual for environmental loss contingencies	$ 5.3	$ 5.2
Standard product warranty accrual	$ 9.4	$ 7.5

Stock Compensation - Narrative

Stock Compensation - Narrative (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended								12 Months Ended
	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Share Based Compensation Plans (Additional Textual) [Abstract]
Expected life - years										5 years	5 years
Increments for vesting (percent)									25.00%
Recognized stock-based compensation expense before tax									$ 3.6	$ 4.9	$ 4.8
Recognized Stock-based compensation expense after tax									$ 2.7	$ 3.7	$ 3.7
Diluted earnings per share (in dollars per share)	$ 0.69	$ 1.16	$ 0.82	$ 1.06	$ 1.48	$ 0.84	$ 1.20	$ 1.19	$ 3.72	$ 4.71	$ 3.86
Stock options granted (in shares)									0
Total intrinsic value of options exercised									$ 20.7	$ 13.4	$ 6.7
Net cash proceeds from the exercise of stock options									37.4	27.5	$ 12.8
Amount accrued for shares settling in cash	$ 1				$ 1.1				$ 1	$ 1.1
Shares distributed (in shares)									557,590	539,396	290,287
Grant date fair value of vested shares									$ 24.4	$ 17.3	$ 11.8
Unrecognized compensation expense related to stock options	$ 22.5								$ 22.5
Unrecognized compensation expense is expected to be recognized over a total weighted average period									2 years
Number of shares available for future grants for all plans (in shares)	7,800,000								7,800,000
Share-based Payment Arrangement, Option
Share Based Compensation Plans (Additional Textual) [Abstract]
Diluted earnings per share (in dollars per share)									$ 0.04	$ 0.05	$ 0.05
Share-based Payment Arrangement, Option
Share Based Compensation Plans (Additional Textual) [Abstract]
Expected life - years									10 years
Performance-based restricted stock units
Share Based Compensation Plans (Additional Textual) [Abstract]
Vesting period									3 years
Time-based restricted stock units
Share Based Compensation Plans (Additional Textual) [Abstract]
Increments for vesting (percent)									25.00%
Vesting period									5 years
Restricted Stock
Share Based Compensation Plans (Additional Textual) [Abstract]
Recognized stock-based compensation expense before tax									$ 19.6	$ 22.3	$ 27.5
Vested (in shares)	1,125,472				1,106,386				1,125,472	1,106,386

Stock Compensation - Assumption

Stock Compensation - Assumptions (Details) - $ / shares	12 Months Ended
Stock Compensation - Assumptions (Details) - $ / shares	Dec. 31, 2019	Dec. 31, 2018
Summary of Stock Options Granted
Weighted-average fair value per option (In dollars per share)	$ 9.58	$ 10.29
Risk-free interest rate	2.46%	2.62%
Dividend yield	2.52%	2.30%
Expected stock volatility	28.29%	27.78%
Expected life - years	5 years	5 years

Stock Compensation - Option Act

Stock Compensation - Option Activity (Details) $ / shares in Units, $ in Millions	12 Months Ended
	Dec. 31, 2020USD ($)$ / sharesshares
Number of Shares
Outstanding, beginning number of shares (in shares) \| shares	2,913,272
Exercised (in shares) \| shares	(956,258)
Canceled or expired, number of shares (in shares) \| shares	(52,265)
Outstanding, ending number of shares (in shares) \| shares	1,904,749
Weighted-average Exercise Price
Outstanding, beginning of year, weighted-average exercise price (in dollars per share) \| $ / shares	$ 40.10
Exercised, weighted-average exercise price (in dollars per share) \| $ / shares	39.07
Canceled or expired, weighted-average exercise price (in dollars per share) \| $ / shares	43.27
Outstanding - end of year, weighted-average exercise price (in dollars per share) \| $ / shares	$ 40.53
Outstanding - end of year, weighted-average remaining contractual term (in years)	7 years
Outstanding - end of year, aggregate intrinsic value \| $	$ 70.1
Option expected to vest, number of shares (in shares) \| shares	1,904,749
Option expected to vest, weighed-average exercise price (in dollars per share) \| $ / shares	$ 40.53
Option expected to vest, weighted-average remaining contractual term (in years)	7 years
Option expected to vest, aggregate intrinsic value \| $	$ 70.1
Options exercisable, number of shares (In shares) \| shares	1,259,075
Options exercisable, weighted-average exercise price (in dollars per share) \| $ / shares	$ 38.94
Options exercisable, weighted-average remaining contractual term (in years)	6 years
Options exercisable, aggregate intrinsic value \| $	$ 48.4

Stock Compensation - Deferred S

Stock Compensation - Deferred Shares (Details)	12 Months Ended
Stock Compensation - Deferred Shares (Details)	Dec. 31, 2020shares
Deferred shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Deferred compensation arrangement with individual, shares issued (in shares)	5,000
Performance-based restricted stock units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares expected to settle in shares (In shares)	442,371
Shares expected to settle in cash (In shares)	11,251
Granted, number of shares (in shares)	453,622
Time-based restricted stock units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares expected to settle in shares (In shares)	204,550
Shares expected to settle in cash (In shares)	4,480
Granted, number of shares (in shares)	209,030

Stock Compensation - Restricted

Stock Compensation - Restricted Share Activity (Details)	12 Months Ended
Stock Compensation - Restricted Share Activity (Details)	Dec. 31, 2020$ / sharesshares
Number of Shares
Canceled or expired, number of shares (in shares)	(52,265)
Restricted Stock
Number of Shares
Outstanding - beginning of year, number of shares (in shares)	1,106,386
Granted, number of shares (in shares)	651,921
Vested, number of shares (in shares)	(557,590)
Canceled or expired, number of shares (in shares)	(75,245)
Outstanding - end of year, number of shares (in shares)	1,125,472
Weighted-average Grant Date Fair Value
Outstanding - beginning of year, Weighted-average grant date fair value (in dollars per share) \| $ / shares	$ 43.13
Granted, Weighted-average grant date fair value (in dollars per share) \| $ / shares	50.05
Vested, Weighted-average grant date fair value (in dollars per share) \| $ / shares	43.76
Canceled or expired, weighted-average grant date fair value (in dollars per share) \| $ / shares	47.97
Outstanding - end of year, Weighted-average grant date fair value (in dollars per share) \| $ / shares	$ 46.50

Impairment and Restructuring _3

Impairment and Restructuring Charges - Restructuring Charges by Segment (Details) - USD ($) $ in Millions	3 Months Ended								12 Months Ended
	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Restructuring Cost and Reserve [Line Items]
Impairment charges									$ 0.4	$ 2.6	$ 1.3
Severance expense and related benefit costs									19.6	3	3
Exit costs									1.2	1.2	0.6
Total	$ 2.5	$ 12	$ 3.1	$ 3.6	$ 3.3	$ 1.6	$ 1.9	$ 0	21.2	6.8	4.9
Mobile
Restructuring Cost and Reserve [Line Items]
Impairment charges									0.2	1.8	0
Severance expense and related benefit costs									8.2	1.6	1.1
Exit costs									0.6	0.2	0.3
Total									9	3.6	1.4
Process
Restructuring Cost and Reserve [Line Items]
Impairment charges									0.2	0.8	1.3
Severance expense and related benefit costs									11	0.9	0.3
Exit costs									0.6	1	0.3
Total									11.8	2.7	1.9
Unallocated Corporate
Restructuring Cost and Reserve [Line Items]
Impairment charges									0	0	0
Severance expense and related benefit costs									0.4	0.5	1.6
Exit costs									0	0	0
Total									$ 0.4	$ 0.5	$ 1.6

Impairment and Restructuring _4

Impairment and Restructuring Charges - Narrative (Details)	3 Months Ended								12 Months Ended
Impairment and Restructuring Charges - Narrative (Details)	Dec. 31, 2020USD ($)employee	Sep. 30, 2020USD ($)employee	Jun. 30, 2020USD ($)	Mar. 31, 2020USD ($)	Dec. 31, 2019USD ($)	Sep. 30, 2019USD ($)	Jun. 30, 2019USD ($)	Mar. 31, 2019USD ($)	Dec. 31, 2020USD ($)employee	Dec. 31, 2019USD ($)	Dec. 31, 2018USD ($)	Dec. 31, 2021employee	Feb. 16, 2021employee
Restructuring Cost and Reserve [Line Items]
Severance expense and related benefit costs									$ 19,600,000	$ 3,000,000	$ 3,000,000
Exit costs									1,200,000	1,200,000	600,000
Total	$ 2,500,000	$ 12,000,000	$ 3,100,000	$ 3,600,000	$ 3,300,000	$ 1,600,000	$ 1,900,000	$ 0	$ 21,200,000	6,800,000	4,900,000
Number of employees expected to be hired \| employee	130								130
COVID-19 Cost Reductions
Restructuring Cost and Reserve [Line Items]
Severance expense and related benefit costs									$ 12,000,000
Number of employees eliminated \| employee	200								200
Canton Bearing Plant Reorganization
Restructuring Cost and Reserve [Line Items]
Severance expense and related benefit costs									$ 1,100,000
Restructuring charges									1,200,000
Canton Bearing Plant Reorganization \| Minimum
Restructuring Cost and Reserve [Line Items]
Total									2,000,000
Canton Bearing Plant Reorganization \| Minimum \| Forecast
Restructuring Cost and Reserve [Line Items]
Number of employees affected \| employee													40
Canton Bearing Plant Reorganization \| Maximum
Restructuring Cost and Reserve [Line Items]
Total									2,500,000
Mobile
Restructuring Cost and Reserve [Line Items]
Severance expense and related benefit costs									8,200,000	1,600,000	1,100,000
Exit costs									600,000	200,000	300,000
Total									9,000,000	3,600,000	1,400,000
Mobile \| COVID-19 Cost Reductions
Restructuring Cost and Reserve [Line Items]
Severance expense and related benefit costs									5,800,000
Process
Restructuring Cost and Reserve [Line Items]
Severance expense and related benefit costs									11,000,000	900,000	300,000
Exit costs									600,000	1,000,000	300,000
Total									11,800,000	2,700,000	1,900,000
Process \| COVID-19 Cost Reductions
Restructuring Cost and Reserve [Line Items]
Severance expense and related benefit costs									5,800,000
Unallocated Corporate
Restructuring Cost and Reserve [Line Items]
Severance expense and related benefit costs									400,000	500,000	1,600,000
Exit costs									0	0	0
Total									400,000	500,000	$ 1,600,000
Unallocated Corporate \| COVID-19 Cost Reductions
Restructuring Cost and Reserve [Line Items]
Severance expense and related benefit costs									400,000
Gaffney
Restructuring Cost and Reserve [Line Items]
Severance expense and related benefit costs									300,000	1,300,000
Exit costs									400,000	$ 100,000
Restructuring charges									7,500,000
Gaffney \| Restructuring Charges
Restructuring Cost and Reserve [Line Items]
Number of employees affected \| employee		150
Gaffney \| Restructuring Charges \| Minimum
Restructuring Cost and Reserve [Line Items]
Total									8,000,000
Gaffney \| Restructuring Charges \| Maximum
Restructuring Cost and Reserve [Line Items]
Total									10,000,000
Diamond Chain
Restructuring Cost and Reserve [Line Items]
Severance expense and related benefit costs									3,100,000
Restructuring charges									6,000,000
Diamond Chain \| Restructuring Charges \| Forecast
Restructuring Cost and Reserve [Line Items]
Number of employees affected \| employee												240
Diamond Chain \| Restructuring Charges \| Minimum
Restructuring Cost and Reserve [Line Items]
Total									10,000,000
Diamond Chain \| Restructuring Charges \| Maximum
Restructuring Cost and Reserve [Line Items]
Total									$ 12,000,000

Impairment and Restructuring _5

Impairment and Restructuring Charges - Consolidated Restructuring Accrual (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Restructuring Reserve [Roll Forward]
Beginning balance, January 1	$ 2.7	$ 2.7
Expense	20.8	4.2
Payments	(15.5)	(4.2)
Ending balance, December 31	$ 8	$ 2.7

Retirement Benefit Plans - Narr

Retirement Benefit Plans - Narrative (Details) $ in Millions	3 Months Ended						12 Months Ended
	Dec. 31, 2020USD ($)shares	Sep. 30, 2020USD ($)	Jun. 30, 2020USD ($)	Dec. 31, 2019USD ($)	Sep. 30, 2019USD ($)	Dec. 31, 2018USD ($)	Dec. 31, 2021	Dec. 31, 2020USD ($)shares	Dec. 31, 2019USD ($)	Dec. 31, 2018USD ($)	Dec. 31, 2017
Defined Benefit Plan Disclosure [Line Items]
Company contributions / payments								$ 17.9	$ 35.4	$ 11.3
Recognition of net actuarial losses (gains)	$ (21.6)	$ (11.9)	$ (8.8)	$ (21.1)	$ (16.9)			(18.5)	4.1	(12.8)
Curtailment gain						$ 10.2
Return on plan assets								$ 27.1	27.9	23.7
Company common stock \| shares	1,095,124							1,095,124
Fair value of company common stock	$ 84.7							$ 84.7
Accrued pension cost
Defined Benefit Plan Disclosure [Line Items]
Company contributions / payments								17.9	35.4
Actuarial losses								16.2
Recognition of net actuarial losses (gains)								16.9	(13.9)	(38.8)
Accumulated benefit obligations	515.9							515.9
Current liabilities	15.7			6.9				15.7	6.9
Projected benefit obligation	521.2							521.2
Fair value of plan assets	343.4							343.4
Pension accumulated benefit obligation	1,026.3			942				1,026.3	$ 942
Percentage increase in value									16.50%
Defined benefit plan, plan assets, amount	$ 866.1			$ 794.9				866.1	$ 794.9
Employee Stock
Defined Benefit Plan Disclosure [Line Items]
Dividends								1.5	2.3	2.9
U.S. Plans \| Accrued pension cost
Defined Benefit Plan Disclosure [Line Items]
Company contributions / payments								7.6	28.7
Deferred compensation								24
Actuarial losses								(56.6)	(74.9)
Recognition of net actuarial losses (gains)								$ 3.9	$ 3.5	$ (30)
Discount rate	2.84%			3.50%		4.36%		2.84%	3.50%	4.36%	3.80%
Discount rate								3.50%
Expected long-term return on plan assets								5.22%
Percentage of defined benefit plan obligation in US								64.00%
Defined benefit pension plan percentage of fair value of plan assets								64.00%
Current liabilities	$ 14.2			$ 5.4				$ 14.2	$ 5.4
Defined benefit plan, plan assets, amount	553.3			$ 520.2		$ 448.3		553.3	520.2	$ 448.3
U.S. Plans \| Accrued pension cost \| Forecast
Defined Benefit Plan Disclosure [Line Items]
Discount rate							2.84%
Expected long-term return on plan assets							4.69%
International Plans \| Accrued pension cost
Defined Benefit Plan Disclosure [Line Items]
Company contributions / payments								10.3	6.7
Actuarial losses								(43.9)	(29.1)
Recognition of net actuarial losses (gains)								(20.1)	$ (17.4)	(8.8)
Discount rate				0.75%					0.75%
Current liabilities	1.5			$ 1.5				1.5	$ 1.5
Defined benefit plan, plan assets, amount	312.8			274.7		$ 254.6		312.8	274.7	254.6
International Plans \| Accrued pension cost \| Fair Value, Recurring
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, plan assets, amount	265			231.8				265	231.8
Discount Rate In Dollars \| Accrued pension cost
Defined Benefit Plan Disclosure [Line Items]
Recognition of net actuarial losses (gains)								88	100.9	83.4
Other Valuation Assumptions \| Accrued pension cost
Defined Benefit Plan Disclosure [Line Items]
Recognition of net actuarial losses (gains)								4.4	3.1	62.4
Return on Plan Assets vs. Expectation \| Accrued pension cost
Defined Benefit Plan Disclosure [Line Items]
Recognition of net actuarial losses (gains)								$ 84.3	$ 90.1	$ 17.8
Discount Rate In Basis Points \| Accrued pension cost
Defined Benefit Plan Disclosure [Line Items]
Decrease to discount rate								66	86	56
Overfunded Plan \| Accrued pension cost
Defined Benefit Plan Disclosure [Line Items]
Accumulated benefit obligations	$ 2			$ 3.4				$ 2	$ 3.4

Retirement Benefit Plans - Comp

Retirement Benefit Plans - Components of Net Periodic Benefit Cost (Details) - USD ($) $ in Millions	3 Months Ended					12 Months Ended
	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Dec. 31, 2019	Sep. 30, 2019	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Components of net periodic benefit cost:
Recognition of net actuarial (gains) losses	$ 21.6	$ 11.9	$ 8.8	$ 21.1	$ 16.9	$ 18.5	$ (4.1)	$ 12.8
Accrued pension cost
Components of net periodic benefit cost:
Recognition of net actuarial (gains) losses						(16.9)	13.9	38.8
United States \| Accrued pension cost
Components of net periodic benefit cost:
Service cost						10.7	10.7	12.6
Interest cost						21	23.5	24
Expected return on plan assets						(25.3)	(25.8)	(29.3)
Amortization of prior service cost						1.6	1.6	1.7
Recognition of net actuarial (gains) losses						(3.9)	(3.5)	30
Curtailment losses (gains)						0.9	0	(10.2)
Net periodic benefit (credit) cost						5	6.5	28.8
International Plans \| Accrued pension cost
Components of net periodic benefit cost:
Service cost						1.8	1.5	1.7
Interest cost						5.5	7.3	7.2
Expected return on plan assets						(8.7)	(10.2)	(11.6)
Amortization of prior service cost						0.2	0.2	0.1
Recognition of net actuarial (gains) losses						20.1	17.4	8.8
Curtailment losses (gains)						0	0	0
Net periodic benefit (credit) cost						$ 18.9	$ 16.2	$ 6.2

Retirement Benefit Plans - Assu

Retirement Benefit Plans - Assumptions (Details) - Accrued pension cost	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
U.S. Plans
Defined Benefit Plan Disclosure [Line Items]
Discount rate	3.50%
Future compensation assumption	2.50%	2.50%	2.50%
Expected long-term return on plan assets	5.22%
Discount rate	2.84%	3.50%	4.36%	3.80%
Future compensation assumption	2.50%	2.50%
U.S. Plans \| Minimum
Defined Benefit Plan Disclosure [Line Items]
Discount rate	3.04%	3.67%	3.75%
Expected long-term return on plan assets	4.50%	5.35%	5.75%
Discount rate	2.71%	3.04%
U.S. Plans \| Maximum
Defined Benefit Plan Disclosure [Line Items]
Discount rate	3.55%	4.43%	3.94%
Expected long-term return on plan assets	6.25%	6.25%	6.50%
Discount rate	2.91%	3.55%
International Plans
Defined Benefit Plan Disclosure [Line Items]
Discount rate		0.75%
International Plans \| Minimum
Defined Benefit Plan Disclosure [Line Items]
Discount rate	0.75%	1.50%	1.25%
Future compensation assumption	2.00%	2.00%	2.00%
Expected long-term return on plan assets	1.75%	2.50%	2.50%
Discount rate	0.25%
Future compensation assumption	1.90%	2.00%
International Plans \| Maximum
Defined Benefit Plan Disclosure [Line Items]
Discount rate	9.00%	11.00%	9.00%
Future compensation assumption	8.20%	8.23%	8.00%
Expected long-term return on plan assets	9.00%	9.00%	9.00%
Discount rate	7.75%
Future compensation assumption	8.18%	8.20%

Retirement Benefit Plans - Chan

Retirement Benefit Plans - Change in Benefit Obligation (Details) - Accrued pension cost - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Change in benefit obligation:
Actuarial losses	$ (16.2)
U.S. Plans
Change in benefit obligation:
Benefit obligation at beginning of year	634.7	$ 586.6
Service cost	10.7	10.7	$ 12.6
Interest cost	21	23.5	24
Plan amendments	0.1	0
Actuarial losses	56.6	74.9
International plan exchange rate change	0	0
Curtailments	0.3	0
Benefits paid	(60.3)	(61)
Acquisitions	0	0
Benefit obligation at end of year	663.1	634.7	586.6
International Plans
Change in benefit obligation:
Benefit obligation at beginning of year	328.8	300.3
Service cost	1.8	1.5	1.7
Interest cost	5.5	7.3	7.2
Plan amendments	0	0
Actuarial losses	43.9	29.1
International plan exchange rate change	14.1	7.6
Curtailments	0	0
Benefits paid	(14.4)	(17.4)
Acquisitions	0	0.4
Benefit obligation at end of year	$ 379.7	$ 328.8	$ 300.3

Retirement Benefit Plans - Ch_2

Retirement Benefit Plans - Change in Plan Assets (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Change in plan assets:
Company contributions / payments	$ 17.9	$ 35.4	$ 11.3
Accrued pension cost
Change in plan assets:
Fair value of plan assets at beginning of year	794.9
Company contributions / payments	17.9	35.4
Fair value of plan assets at end of year	866.1	794.9
U.S. Plans \| Accrued pension cost
Change in plan assets:
Fair value of plan assets at beginning of year	520.2	448.3
Actual return on plan assets	85.8	104.2
Company contributions / payments	7.6	28.7
International plan exchange rate change	0	0
Benefits paid	(60.3)	(61)
Fair value of plan assets at end of year	553.3	520.2	448.3
Funded status at end of year	(109.8)	(114.5)
International Plans \| Accrued pension cost
Change in plan assets:
Fair value of plan assets at beginning of year	274.7	254.6
Actual return on plan assets	32.5	21.9
Company contributions / payments	10.3	6.7
International plan exchange rate change	9.7	8.9
Benefits paid	(14.4)	(17.4)
Fair value of plan assets at end of year	312.8	274.7	$ 254.6
Funded status at end of year	$ (66.9)	$ (54.1)

Retirement Benefit Plans - Bala

Retirement Benefit Plans - Balance Sheet (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Amounts recognized on the Consolidated Balance Sheets:
Non-current assets	$ 2	$ 3.4
Accrued pension cost
Amounts recognized on the Consolidated Balance Sheets:
Current liabilities	(15.7)	(6.9)
U.S. Plans \| Accrued pension cost
Amounts recognized on the Consolidated Balance Sheets:
Non-current assets	1.8	0
Current liabilities	(14.2)	(5.4)
Non-current liabilities	(97.4)	(109.1)
Total	(109.8)	(114.5)
International Plans \| Accrued pension cost
Amounts recognized on the Consolidated Balance Sheets:
Non-current assets	0.2	3.4
Current liabilities	(1.5)	(1.5)
Non-current liabilities	(65.6)	(56)
Total	$ (66.9)	$ (54.1)

Retirement Benefit Plans - Accu

Retirement Benefit Plans - Accumulated Other Comprehensive Loss (Details) - Accrued pension cost - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
U.S. Plans
Defined Benefit Plan Disclosure [Line Items]
Net prior service credit	$ 2.7	$ 4.8
Accumulated other comprehensive loss	2.7	4.8	$ 6.4
International Plans
Defined Benefit Plan Disclosure [Line Items]
Net prior service credit	3.9	3.9
Accumulated other comprehensive loss	$ 3.9	$ 3.9	$ 4

Retirement Benefit Plans - Ch_3

Retirement Benefit Plans - Changes in Plan Assets and Benefit Obligations in AOCL (Details) - Accrued pension cost - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
U.S. Plans
Changes in prior service cost recognized in accumulated other comprehensive loss:
Accumulated other comprehensive income at beginning of year	$ 4.8	$ 6.4
Prior service cost	0.1	0
Recognized prior service credit	(1.6)	(1.6)
Loss recognized due to curtailment	(0.6)	0
Foreign currency impact	0	0
Total recognized in accumulated other comprehensive income at December 31	2.7	4.8
International Plans
Changes in prior service cost recognized in accumulated other comprehensive loss:
Accumulated other comprehensive income at beginning of year	3.9	4
Prior service cost	0	0
Recognized prior service credit	(0.2)	(0.2)
Loss recognized due to curtailment	0	0
Foreign currency impact	0.2	0.1
Total recognized in accumulated other comprehensive income at December 31	$ 3.9	$ 3.9

Retirement Benefit Plans - Targ

Retirement Benefit Plans - Target Allocation (Details) - Accrued pension cost	Dec. 31, 2020	Dec. 31, 2019
Target assets allocation and actual asset allocations for US pension plan assets
Actual asset allocation	100.00%	100.00%
Equity securities
Target assets allocation and actual asset allocations for US pension plan assets
Actual asset allocation	22.00%	21.00%
Fixed income securities
Target assets allocation and actual asset allocations for US pension plan assets
Actual asset allocation	75.00%	74.00%
Other investments
Target assets allocation and actual asset allocations for US pension plan assets
Actual asset allocation	3.00%	5.00%
Minimum \| Equity securities
Target assets allocation and actual asset allocations for US pension plan assets
Current Target Allocation	18.00%
Minimum \| Fixed income securities
Target assets allocation and actual asset allocations for US pension plan assets
Current Target Allocation	70.00%
Minimum \| Other investments
Target assets allocation and actual asset allocations for US pension plan assets
Current Target Allocation	2.00%
Maximum \| Equity securities
Target assets allocation and actual asset allocations for US pension plan assets
Current Target Allocation	24.00%
Maximum \| Fixed income securities
Target assets allocation and actual asset allocations for US pension plan assets
Current Target Allocation	82.00%
Maximum \| Other investments
Target assets allocation and actual asset allocations for US pension plan assets
Current Target Allocation	4.00%

Retirement Benefit Plans - Asse

Retirement Benefit Plans - Assets Measured at Fair Value (Details) - Accrued pension cost - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Assets:
Fair value of plan assets at end of year	$ 866.1	$ 794.9
Level 1 \| Fair Value, Recurring
Assets:
Fair value of plan assets at end of year	242.5	202.5
Level 1 \| Fair Value, Recurring \| Cash and cash equivalents
Assets:
Fair value of plan assets at end of year	37.1	17.1
Level 1 \| Fair Value, Recurring \| Government and agency securities
Assets:
Fair value of plan assets at end of year	45.1	35.8
Level 1 \| Fair Value, Recurring \| Corporate bonds - investment grade
Assets:
Fair value of plan assets at end of year	0	0
Level 1 \| Fair Value, Recurring \| Equity securities - U.S. companies
Assets:
Fair value of plan assets at end of year	0	0.1
Level 1 \| Fair Value, Recurring \| Common collective funds - fixed income
Assets:
Fair value of plan assets at end of year	44.5	42
Level 1 \| Fair Value, Recurring \| Mutual funds - fixed income
Assets:
Fair value of plan assets at end of year	55.4	66.9
Level 1 \| Fair Value, Recurring \| Mutual funds - international equity
Assets:
Fair value of plan assets at end of year	60.4	36
Level 1 \| Fair Value, Recurring \| Mutual funds - domestic equity
Assets:
Fair value of plan assets at end of year	0	3.2
Level 1 \| Fair Value, Recurring \| Mutual funds - other assets
Assets:
Fair value of plan assets at end of year	0	1.4
Level 2 \| Fair Value, Recurring
Assets:
Fair value of plan assets at end of year	102.5	82.5
Level 2 \| Fair Value, Recurring \| Cash and cash equivalents
Assets:
Fair value of plan assets at end of year	0	0
Level 2 \| Fair Value, Recurring \| Government and agency securities
Assets:
Fair value of plan assets at end of year	3	3
Level 2 \| Fair Value, Recurring \| Corporate bonds - investment grade
Assets:
Fair value of plan assets at end of year	99.5	79.5
Level 2 \| Fair Value, Recurring \| Equity securities - U.S. companies
Assets:
Fair value of plan assets at end of year	0	0
Level 2 \| Fair Value, Recurring \| Common collective funds - fixed income
Assets:
Fair value of plan assets at end of year	0	0
Level 2 \| Fair Value, Recurring \| Mutual funds - fixed income
Assets:
Fair value of plan assets at end of year	0	0
Level 2 \| Fair Value, Recurring \| Mutual funds - international equity
Assets:
Fair value of plan assets at end of year	0	0
Level 2 \| Fair Value, Recurring \| Mutual funds - domestic equity
Assets:
Fair value of plan assets at end of year	0	0
Level 2 \| Fair Value, Recurring \| Mutual funds - other assets
Assets:
Fair value of plan assets at end of year	0	0
Level 3 \| Fair Value, Recurring
Assets:
Fair value of plan assets at end of year	0	0
Level 3 \| Fair Value, Recurring \| Cash and cash equivalents
Assets:
Fair value of plan assets at end of year	0	0
Level 3 \| Fair Value, Recurring \| Government and agency securities
Assets:
Fair value of plan assets at end of year	0	0
Level 3 \| Fair Value, Recurring \| Corporate bonds - investment grade
Assets:
Fair value of plan assets at end of year	0	0
Level 3 \| Fair Value, Recurring \| Equity securities - U.S. companies
Assets:
Fair value of plan assets at end of year	0	0
Level 3 \| Fair Value, Recurring \| Common collective funds - fixed income
Assets:
Fair value of plan assets at end of year	0	0
Level 3 \| Fair Value, Recurring \| Mutual funds - fixed income
Assets:
Fair value of plan assets at end of year	0	0
Level 3 \| Fair Value, Recurring \| Mutual funds - international equity
Assets:
Fair value of plan assets at end of year	0	0
Level 3 \| Fair Value, Recurring \| Mutual funds - domestic equity
Assets:
Fair value of plan assets at end of year	0	0
Level 3 \| Fair Value, Recurring \| Mutual funds - other assets
Assets:
Fair value of plan assets at end of year	0	0
Fair Value, Inputs, Level 1, 2 and 3 \| Fair Value, Recurring
Assets:
Fair value of plan assets at end of year	345	285
Fair Value, Inputs, Level 1, 2 and 3 \| Fair Value, Recurring \| Cash and cash equivalents
Assets:
Fair value of plan assets at end of year	37.1	17.1
Fair Value, Inputs, Level 1, 2 and 3 \| Fair Value, Recurring \| Government and agency securities
Assets:
Fair value of plan assets at end of year	48.1	38.8
Fair Value, Inputs, Level 1, 2 and 3 \| Fair Value, Recurring \| Corporate bonds - investment grade
Assets:
Fair value of plan assets at end of year	99.5	79.5
Fair Value, Inputs, Level 1, 2 and 3 \| Fair Value, Recurring \| Equity securities - U.S. companies
Assets:
Fair value of plan assets at end of year	0	0.1
Fair Value, Inputs, Level 1, 2 and 3 \| Fair Value, Recurring \| Common collective funds - fixed income
Assets:
Fair value of plan assets at end of year	44.5	42
Fair Value, Inputs, Level 1, 2 and 3 \| Fair Value, Recurring \| Mutual funds - fixed income
Assets:
Fair value of plan assets at end of year	55.4	66.9
Fair Value, Inputs, Level 1, 2 and 3 \| Fair Value, Recurring \| Mutual funds - international equity
Assets:
Fair value of plan assets at end of year	60.4	36
Fair Value, Inputs, Level 1, 2 and 3 \| Fair Value, Recurring \| Mutual funds - domestic equity
Assets:
Fair value of plan assets at end of year	0	3.2
Fair Value, Inputs, Level 1, 2 and 3 \| Fair Value, Recurring \| Mutual funds - other assets
Assets:
Fair value of plan assets at end of year	0	1.4
Fair Value Measured at Net Asset Value Per Share \| Cash and cash equivalents
Assets:
Fair value of plan assets at end of year	0	0.2
Fair Value Measured at Net Asset Value Per Share \| Common collective funds - fixed income
Assets:
Fair value of plan assets at end of year	203.8	202.5
Fair Value Measured at Net Asset Value Per Share \| Equity securities - international companies
Assets:
Fair value of plan assets at end of year	0.3	1
Fair Value Measured at Net Asset Value Per Share \| Common collective fund - U.S. equities
Assets:
Fair value of plan assets at end of year	63.2	76.3
Fair Value Measured at Net Asset Value Per Share \| Common collective fund - international equities
Assets:
Fair value of plan assets at end of year	42.6	31.9
Fair Value Measured at Net Asset Value Per Share \| Common collective funds - diversified growth
Assets:
Fair value of plan assets at end of year	20.1	17.9
Fair Value Measured at Net Asset Value Per Share \| Limited partnerships
Assets:
Fair value of plan assets at end of year	13.2	18.7
Fair Value Measured at Net Asset Value Per Share \| Real estate partnerships
Assets:
Fair value of plan assets at end of year	7.7	11.2
Fair Value Measured at Net Asset Value Per Share \| Other liability-driven investments
Assets:
Fair value of plan assets at end of year	144.4	128.2
Fair Value Measured at Net Asset Value Per Share \| Other assets
Assets:
Fair value of plan assets at end of year	$ 25.8	$ 22

Retirement Benefit Plans - Empl

Retirement Benefit Plans - Employer Contributions to Defined Benefit Plans (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Employer Contributions [Abstract]
Employer Contributions to Defined Benefit Plans	$ 17.9	$ 35.4	$ 11.3
Accrued pension cost
Employer Contributions [Abstract]
Employer Contributions to Defined Benefit Plans	17.9	$ 35.4
2021 (estimated)	$ 16

Retirement Benefit Plans - Futu

Retirement Benefit Plans - Future Benefit Payments (Details) - Accrued pension cost $ in Millions	Dec. 31, 2020USD ($)
Future pension benefit payments
2021	$ 98
2022	74
2023	72
2024	64
2025	62
2026-2030	$ 270

Accumulated Other Comprehensi_3

Accumulated Other Comprehensive Income (Loss) - Comprehensive (Loss) Income (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Accumulated Other Comprehensive Loss
Accumulated other comprehensive loss, beginning balance	$ (50.1)	$ (95.3)
Other comprehensive income (loss) before reclassifications and income taxes	94.3	74
Amounts reclassified from accumulated other comprehensive (loss) income, before income tax	(9.7)	(7.4)
Income tax (expense) benefit	2.2	(21.6)
Net current period other comprehensive income (loss), net of income taxes	86.8	45	$ (63.2)
Noncontrolling interest	4.6	0.2
Net current period comprehensive income (loss), net of income taxes and noncontrolling interest	91.4	45.2
Accumulated other comprehensive loss, ending balance	41.3	(50.1)	(95.3)
Foreign currency translation adjustments
Accumulated Other Comprehensive Loss
Accumulated other comprehensive loss, beginning balance	(115.3)	(95.6)
Other comprehensive income (loss) before reclassifications and income taxes	92.7	(19.9)
Amounts reclassified from accumulated other comprehensive (loss) income, before income tax	0	0
Income tax (expense) benefit	0	0
Net current period other comprehensive income (loss), net of income taxes	92.7	(19.9)
Noncontrolling interest	4.6	0.2
Net current period comprehensive income (loss), net of income taxes and noncontrolling interest	97.3	(19.7)
Accumulated other comprehensive loss, ending balance	(18)	(115.3)	(95.6)
Pension and postretirement liability adjustments
Accumulated Other Comprehensive Loss
Accumulated other comprehensive loss, beginning balance	66.9	0
Other comprehensive income (loss) before reclassifications and income taxes	2.8	92.7
Amounts reclassified from accumulated other comprehensive (loss) income, before income tax	(7.4)	(3.6)
Income tax (expense) benefit	1.1	(22.2)
Net current period other comprehensive income (loss), net of income taxes	(3.5)	66.9
Noncontrolling interest	0	0
Net current period comprehensive income (loss), net of income taxes and noncontrolling interest	(3.5)	66.9
Accumulated other comprehensive loss, ending balance	63.4	66.9	0
Change in fair value of derivative financial instruments
Accumulated Other Comprehensive Loss
Accumulated other comprehensive loss, beginning balance	(1.7)	0.3
Other comprehensive income (loss) before reclassifications and income taxes	(1.2)	1.2
Amounts reclassified from accumulated other comprehensive (loss) income, before income tax	(2.3)	(3.8)
Income tax (expense) benefit	1.1	0.6
Net current period other comprehensive income (loss), net of income taxes	(2.4)	(2)
Noncontrolling interest	0	0
Net current period comprehensive income (loss), net of income taxes and noncontrolling interest	(2.4)	(2)
Accumulated other comprehensive loss, ending balance	$ (4.1)	$ (1.7)	$ 0.3

Fair Value - Fair Value on Recu

Fair Value - Fair Value on Recurring Basis (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Assets and Liabilities Measured at Fair Value on a recurring basis
Cash and cash equivalents		$ 48.8
Restricted cash	$ 0.8	6.7
Short-term investments		0.1
Fair Value, Recurring
Assets and Liabilities Measured at Fair Value on a recurring basis
Cash and cash equivalents	320.3	160.7
Restricted cash	0.8	6.7
Short-term investments	37.6	25.7
Foreign currency hedges	1.1	7.6
Total Assets	359.8	249.6
Foreign currency hedges	8.1	1.4
Total Liabilities	8.1	1.4
Fair Value, Recurring \| Level 1
Assets and Liabilities Measured at Fair Value on a recurring basis
Cash and cash equivalents	318.6	158.2
Restricted cash	0.8	6.7
Short-term investments	0	0
Foreign currency hedges	0	0
Total Assets	319.4	164.9
Foreign currency hedges	0	0
Total Liabilities	0	0
Fair Value, Recurring \| Level 2
Assets and Liabilities Measured at Fair Value on a recurring basis
Cash and cash equivalents	1.7	2.5
Restricted cash	0	0
Short-term investments	37.6	25.7
Foreign currency hedges	1.1	7.6
Total Assets	40.4	35.8
Foreign currency hedges	8.1	1.4
Total Liabilities	8.1	1.4
Fair Value, Recurring \| Level 3
Assets and Liabilities Measured at Fair Value on a recurring basis
Cash and cash equivalents	0	0
Restricted cash	0	0
Short-term investments	0	0
Foreign currency hedges	0	0
Total Assets	0	0
Foreign currency hedges	0	0
Total Liabilities	$ 0	$ 0

Fair Value - Narrative (Details

Fair Value - Narrative (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Fair Value Disclosures [Abstract]
Long-term fixed-rate debt, fair value	$ 1,220.7	$ 1,185.8
Long-term fixed rate debt, carrying value	$ 1,103.2	$ 1,086.5

Derivative Instruments - Narrat

Derivative Instruments - Narrative (Details) - USD ($)	Sep. 15, 2020	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Sep. 08, 2020
Derivative [Line Items]
Derivative, amount of hedged item					$ 100,000,000
Proceeds from long-term debt		$ 562,000,000	$ 662,800,000	$ 1,391,100,000
Amounts reclassified from accumulated other comprehensive (loss) income, before income tax		9,700,000	7,400,000
Derivative, notional amount		$ 173,200,000	295,700,000
Maximum length of time over which the Company hedges		18 months
2027 Notes
Derivative [Line Items]
Proceeds from long-term debt	$ 150,000,000
Net Investment Hedging
Derivative [Line Items]
Derivative, amount of hedged item	$ 54,500,000
Amounts reclassified from accumulated other comprehensive (loss) income, before income tax		$ 2,000,000
Designated as Hedging Instrument
Derivative [Line Items]
Derivative, notional amount		86,900,000	87,900,000
Not Designated as Hedging Instrument
Derivative [Line Items]
Derivative, notional amount		$ 86,200,000	$ 207,800,000

Derivative Instruments - Cash F

Derivative Instruments - Cash Flow Hedging Strategy (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivatives not designated as hedging instruments	$ (3.7)	$ 5.9	$ 5.1

Research and Development (Detai

Research and Development (Details)	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Research and Development Arrangement, Contract to Perform for Others [Line Items]
Expenditures as a percentage of sales	2.20%	2.40%	2.30%
Research and Development Expense
Research and Development Arrangement, Contract to Perform for Others [Line Items]
Expenditures as a percentage of sales	1.20%	1.10%	1.00%
Engineering Expense
Research and Development Arrangement, Contract to Perform for Others [Line Items]
Expenditures as a percentage of sales	1.00%	1.30%	1.30%

Quarterly Financial Data (Detai

Quarterly Financial Data (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended								12 Months Ended
	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Quarterly Financial Data
Net sales	$ 891.7	$ 894.6	$ 803.5	$ 923.4	$ 896.2	$ 914	$ 1,000	$ 979.7	$ 3,513.2	$ 3,789.9	$ 3,580.8
Gross profit	237	263.7	230.3	278.9	256	277.5	305.7	302.6	1,009.9	1,141.8	1,040.1
Selling, general and administrative expenses	135.7	132.7	111.8	153.6	159.2	148	158.7	152.7	533.8	618.6	580.7
Impairment and restructuring charges	2.5	12	3.1	3.6	3.3	1.6	1.9	0	21.2	6.8	4.9
Net Income	55.3	91.3	61.8	84	117.8	66.7	94.9	95.3	292.4	374.7	305.5
Net income attributable to noncontrolling interests	2.2	2.5	(0.1)	3.3	4.3	2.5	2.4	3.4	7.9	12.6	2.7
Net income attributable to The Timken Company	$ 53.1	$ 88.8	$ 61.9	$ 80.7	$ 113.5	$ 64.2	$ 92.5	$ 91.9	$ 284.5	$ 362.1	$ 302.8
Net income per share - Basic (in dollars per share)	$ 0.70	$ 1.18	$ 0.82	$ 1.07	$ 1.51	$ 0.85	$ 1.22	$ 1.21	$ 3.78	$ 4.78	$ 3.93
Net income per share - Diluted (in dollars per share)	0.69	1.16	0.82	1.06	1.48	0.84	1.20	1.19	3.72	4.71	$ 3.86
Dividends per share (in dollars per share)	$ 0.29	$ 0.28	$ 0.28	$ 0.28	$ 0.28	$ 0.28	$ 0.28	$ 0.28	$ 1.13	$ 1.12
Recognition of net actuarial (gains) losses	$ 21.6	$ 11.9	$ 8.8		$ 21.1	$ 16.9			$ 18.5	$ (4.1)	$ 12.8
Valuation allowance changes									$ 0.7	$ 44.5	$ 0

Schedule II - Valuation and Q_2

Schedule II - Valuation and Qualifying Accounts (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
SEC Schedule, 12-09, Valuation and Qualifying Accounts Disclosure [Line Items]
Valuation allowance changes	$ 0.7	$ 44.5	$ 0
Europe / Middle East / Africa
SEC Schedule, 12-09, Valuation and Qualifying Accounts Disclosure [Line Items]
Valuation allowance changes		40.7
SEC Schedule, 12-09, Allowance, Notes Receivable
SEC Schedule, 12-09, Valuation and Qualifying Accounts Disclosure [Line Items]
Balance at beginning of period	18.1	21.9	20.3
Charged to costs and expenses	2.8	1.8	3.1
Charged to other accounts	0	0	1.3
Deduction	3.4	4.9	2.8
Balance at end of period	16.5	18.1	21.9
SEC Schedule, 12-09, Reserve, Inventory
SEC Schedule, 12-09, Valuation and Qualifying Accounts Disclosure [Line Items]
Balance at beginning of period	40.1	43.2	34.2
Charged to costs and expenses	11.6	5.2	16.1
Charged to other accounts	11.8	1.9	2.4
Deduction	9	10.2	9.5
Balance at end of period	54.5	40.1	43.2
SEC Schedule, 12-09, Valuation Allowance, Deferred Tax Asset
SEC Schedule, 12-09, Valuation and Qualifying Accounts Disclosure [Line Items]
Balance at beginning of period	33.7	77.5	79.4
Charged to costs and expenses	2.7	1.1	0
Charged to other accounts	1	0	0
Deduction	0.7	44.5	0
Balance at end of period	36.7	33.7	77.5
2020 Acquisitions \| SEC Schedule, 12-09, Allowance, Notes Receivable
SEC Schedule, 12-09, Valuation and Qualifying Accounts Disclosure [Line Items]
Deduction	1	0.7
2020 Acquisitions \| SEC Schedule, 12-09, Valuation Allowance, Deferred Tax Asset
SEC Schedule, 12-09, Valuation and Qualifying Accounts Disclosure [Line Items]
Deduction	$ 0	$ 0.4	$ 1.9

The Timken Company (TKR) 10-K16 Feb 212020 FY Annual reportFinancial data

Cover Page

Consolidated Statements of Inco

Consolidated Statements of Comp

Consolidated Balance Sheets

Consolidated Balance Sheets (Pa

Consolidated Statements of Cash

Consolidated Statements of Ca_2

Consolidated Statements of Shar

Consolidated Statements of Sh_2

Significant Accounting Policies

Acquisitions

Revenue

Segment Information

Income Taxes

Earnings Per Share

Inventories

Property, Plant and Equipment

Goodwill and Other Intangible A

Leasing

Financing Arrangements

Contingencies

Stock Compensation

Impairment and Restructuring Ch

Retirement Benefit Plans

Other Postretirement Benefit Pl

Accumulated Other Comprehensive

Fair Value

Derivative Instruments

Research and Development

Quarterly Financial Data

Schedule II - Valuation and Qua

Significant Accounting Polici_2

Acquisitions (Tables)

Revenue (Tables)

Segment Information (Tables)

Income Taxes (Tables)

Earnings Per Share (Tables)

Inventories (Tables)

Property, Plant and Equipment (

Goodwill and Other Intangible_2

Leasing (Tables)

Financing Arrangements (Tables)

Stock Compensation (Tables)

Impairment and Restructuring _2

Retirement Benefit Plans (Table

Other Postretirement Benefit _2

Accumulated Other Comprehensi_2

Fair Value (Tables)

Derivative Instruments (Tables)

Research and Development (Table

Quarterly Financial Data (Table

Significant Accounting Polici_3

Significant Accounting Polici_4

Significant Accounting Polici_5

Significant Accounting Polici_6

Significant Accounting Polici_7

Significant Accounting Polici_8

Significant Accounting Polici_9

Acquisitions - Narrative (Detai

Acquisitions - Purchase Price A

Acquisitions - Fair Value for I

Revenue - Disaggregation of Rev

Segment Information - Narrative

Segment Information - Business

Segment Information - Geographi

Income Taxes - Income Before In

Income Taxes - Narrative (Detai

Income Taxes - Reconciliation (

Income Taxes - Deferred Tax Ass

Income Taxes - Unrecognized Tax

Earnings Per Share - Denominato

Earnings Per Share - Narrative

Inventories - Components of Inv

Inventories - Narrative (Detail

Property, Plant and Equipment -

Property, Plant and Equipment_2

Goodwill and Other Intangible_3

Goodwill and Other Intangible_4

Goodwill and Other Intangible_5