TIMKEN CO
For the period ended Dec 31, 2023. Filed Feb 26, 2024.
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FY2023 · Filed Feb 26, 2024
TKR$108.83+6.7%Stored close · as of Nov 9, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Consolidated Balance Sheets
| December 31, | ||
|---|---|---|
| 2023 | 2022 | |
| (Dollars in millions) | ||
| ASSETS | ||
| Current Assets | ||
| Cash and cash equivalents | $418.9 | $331.6 |
| Restricted cash | 0.4 | 9.1 |
| Accounts receivable, less allowances: (2023 - $17.1 million; 2022 - $17.9 million) | 671.7 | 699.6 |
| Unbilled receivables | 144.5 | 103.9 |
| Inventories, net | 1,229.1 | 1,191.3 |
| Deferred charges and prepaid expenses | 41.5 | 44.4 |
| Other current assets | 128.8 | 124.1 |
| Total Current Assets | 2,634.9 | 2,504.0 |
| Property, Plant and Equipment, Net | 1,311.9 | 1,207.4 |
| Other Assets | ||
| Goodwill | 1,369.6 | 1,098.3 |
| Other intangible assets, net | 1,031.4 | 765.3 |
| Operating lease assets | 119.7 | 101.4 |
| Deferred income taxes | 44.3 | 71.0 |
| Other non-current assets | 29.9 | 25.0 |
| Total Other Assets | 2,594.9 | 2,061.0 |
| Total Assets | $6,541.7 | $5,772.4 |
| LIABILITIES AND EQUITY | ||
| Current Liabilities | ||
| Accounts payable, trade | $367.2 | $403.9 |
| Short-term debt, including current portion of long-term debt | 605.6 | 49.0 |
| Salaries, wages and benefits | 161.5 | 155.3 |
| Income taxes payable | 19.9 | 51.3 |
| Other current liabilities | 317.1 | 352.9 |
| Total Current Liabilities | 1,471.3 | 1,012.4 |
| Non-Current Liabilities | ||
| Long-term debt | 1,790.3 | 1,914.2 |
| Accrued pension benefits | 172.3 | 160.3 |
| Accrued postretirement benefits | 30.2 | 31.4 |
| Long-term operating lease liabilities | 78.7 | 65.2 |
| Deferred income taxes | 186.5 | 139.8 |
| Other non-current liabilities | 110.0 | 96.2 |
| Total Non-Current Liabilities | 2,368.0 | 2,407.1 |
| Shareholders’ Equity | ||
| Class I and II Serial Preferred Stock without par value: | ||
| Authorized - 10,000,000 shares each class, none issued | — | — |
| Common stock without par value: | ||
| Authorized - 200,000,000 shares | ||
| Issued (including shares in treasury) (2023 – 78,680,164 shares; 2022 – 77,767,640 shares) | ||
| Stated capital | 40.7 | 40.7 |
| Other paid-in capital | 1,076.5 | 829.6 |
| Retained earnings | 2,232.2 | 1,932.1 |
| Accumulated other comprehensive loss | (146.9) | (181.9) |
| Treasury shares at cost (2023 – 8,553,272 shares; 2022 – 5,188,257 shares) | (620.1) | (352.2) |
| Total Shareholders’ Equity | 2,582.4 | 2,268.3 |
| Noncontrolling interest | 120.0 | 84.6 |
| Total Equity | 2,702.4 | 2,352.9 |
| Total Liabilities and Equity | $6,541.7 | $5,772.4 |
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