TIMKEN CO
For the period ended Dec 31, 2025. Filed Feb 13, 2026.
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FY2025 · Filed Feb 13, 2026
TKR$109.19+0.3%Stored close · as of Nov 10, 2026
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Item 8. Consolidated Statements of Cash Flows
| Year Ended December 31, | |||
|---|---|---|---|
| 2025 | 2024 | 2023 | |
| (Dollars in millions) | |||
| CASH PROVIDED (USED) | |||
| Operating Activities | |||
| Net income | $317.3 | $375.3 | $408.0 |
| Adjustments to reconcile net income to net cash provided by operating activities: | |||
| Depreciation and amortization | 230.1 | 221.8 | 201.3 |
| Impairment charges | 0.1 | 3.5 | 33.2 |
| (Gain) loss on sale of assets | (1.8) | (14.4) | 1.3 |
| Gain on acquisitions and divestitures | — | — | (2.9) |
| Deferred income tax benefit | (27.2) | (35.3) | (11.6) |
| Stock-based compensation expense | 28.3 | 25.9 | 30.6 |
| Pension and other postretirement expense | 18.4 | 5.3 | 26.5 |
| Pension and other postretirement benefit contributions and payments | (38.7) | (26.1) | (29.8) |
| Changes in operating assets and liabilities: | |||
| Accounts receivable | 3.7 | (14.2) | 71.6 |
| Unbilled receivables | 3.4 | 3.3 | (40.4) |
| Inventories | (3.1) | 9.6 | 72.0 |
| Accounts payable, trade | 18.0 | (37.1) | (57.4) |
| Other accrued expenses | 27.6 | (7.1) | (47.6) |
| Income taxes | (19.1) | (28.2) | (108.4) |
| Other, net | (2.7) | (6.6) | (1.2) |
| Net Cash Provided by Operating Activities | 554.3 | 475.7 | 545.2 |
| Investing Activities | |||
| Capital expenditures | (148.2) | (170.0) | (187.8) |
| Acquisitions, net of cash acquired of $8.9 million in 2024 and $30.0 million in 2023 | — | (167.4) | (638.8) |
| Proceeds from disposals of property, plant and equipment | 4.5 | 17.6 | 1.8 |
| Proceeds from divestitures, net of cash divested of $0.7 million in 2023 | — | 0.3 | 13.5 |
| Investments in short-term marketable securities, net | (4.5) | 15.2 | 5.7 |
| Other | (0.1) | (0.3) | (0.9) |
| Net Cash Used in Investing Activities | (148.3) | (304.6) | (806.5) |
| Financing Activities | |||
| Cash dividends paid to shareholders | (98.3) | (96.1) | (94.0) |
| Purchase of treasury shares | (57.4) | (40.5) | (250.9) |
| Proceeds from exercise of stock options | 1.9 | 5.6 | 21.8 |
| Payments related to tax withholding for stock-based compensation | (10.0) | (10.0) | (17.0) |
| Proceeds from long-term debt | 97.3 | 1,858.3 | 1,564.9 |
| Payments on long-term debt | (365.8) | (1,839.3) | (1,329.0) |
| Deferred financing costs | (0.3) | (5.5) | (0.5) |
| Accounts receivable facility financing borrowings | 369.0 | 366.0 | 104.0 |
| Accounts receivable facility financing payments | (369.0) | (433.0) | (122.0) |
| Short-term debt activity, net | 11.8 | (230.3) | 190.0 |
| Noncontrolling interest dividends paid | (15.0) | (1.1) | (0.6) |
| Proceeds from the sale of shares in Timken India Limited | — | 232.3 | 284.8 |
| Other | (1.3) | (1.2) | (4.4) |
| Net Cash (Used in) Provided by Financing Activities | (437.1) | (194.8) | 347.1 |
| Effect of exchange rate changes on cash | 22.9 | (22.0) | (7.2) |
| (Decrease) Increase In Cash, Cash Equivalents and Restricted Cash | (8.2) | (45.7) | 78.6 |
| Cash, cash equivalents and restricted cash at beginning of year | 373.6 | 419.3 | 340.7 |
| Cash, Cash Equivalents and Restricted Cash at End of Year | $365.4 | $373.6 | $419.3 |
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