Mar 31, 2017 - this production throughout 2017 by running many of ..... Changes in and Disagreements with Accountants on Accounting and Financial Disclosure ..... We rely on information technology systems to process, transmit and store ...
THIS IS WHAT WE’RE MADE FOR 2 0 17 A N N U A L R E P O R T
TIMKENSTEEL AT A GLANCE
In 2017, we experienced momentum in every
FINANCIAL PERFORMANCE
EN
people to the test, increasing both production
Net Sales
O
levels and productivity, while undergoing one of the fastest ramp-ups in company
history. In the process, we came together as
Adjusted EBITDA
($ BILLIONS)
($ MILLIONS)
$1.33
$69.2
PER 200K MAN-HOURS
level of the organization. We put our assets and
$0.87
a team to show exactly what we’re made of
$24.0
and for. We maintained our focus on safety
while also increasing market share, gaining launching industry-leading products.
With 100 years of steelmaking history in the books, we’re confident and excited about
TimkenSteel’s second century. With strong core values, world-class assets, the best people in the industry and an unmatched passion for making the cleanest steel in the industry, this is what we’re made for.
On the cover: Oxyfuel torches on the jumbo bloom vertical caster at our Faircrest Steel Plant cut customlength blooms from the cast steel strand.
T I M K E N S T E E L 2 017 A N N UA L R E P O R T
’16
’17
’16
’17
Reconciliation of Adjusted EBITDA ($ MILLIONS)
2016
2017
($105.5)
($43.8)
(36.5)
1.5
Interest expense
11.4
14.8
Depreciation and amortization
74.9
74.9
Loss from remeasurement of benefit plans
(79.7)
(21.8)
$24.0
$69.2
Net Loss Provision (benefit) for income taxes
Adjusted EBITDA
The reconciliation above is provided as additional relevant information about the company's performance. Adjusted EBITDA is an important financial measure used in the management of the business, including decisions concerning the allocation of resources and assessment of performance. Management believes reporting Adjusted EBITDA is useful to investors as this measure is representative of the company's performance. Management also believes it is appropriate to compare GAAP net loss to Adjusted EBITDA.
CARBON INTENSITY
new customers, improving our processes and
CO
y's nt of of his
ENVIRONMENTAL, HEALTH & SAFETY PERFORMANCE
OSHA Recordable Incident Rate
Lost Time Accident Rate
8
PER 200K MAN-HOURS
PER 200K MAN-HOURS
10
6 4 2 0
2.0 1.5 1.0 0.5 0.0
’04
’05 ’06
’07
’08
’09
’10
’11
’12
’13
’14
’15
(emissions per production ton)
TimkenSteel
CARBON INTENSITY
2.5
’16
’17
’04
Steel Manufacturers Association
’05 ’06
’09
’10
’11
’12
’13
’14
’15
’16
’17
In 2017:
Weighted Average
8% reduction
Faircrest Steel Plant
1.0
’08
U.S. Primary Metals Manufacturers
2.0 1.5
’07
in carbon intensity.
Harrison Steel Plant
10% decrease in the amount
0.5 0
of electricity (kilowatts per ton) used in steelmaking.
Comcast Corporation ("AT&T Comcast") pursuant to the terms of an Agreement and .... 5.1 The Franchisee agrees to conduct, at no cost to the City, a customer.
Jan 28, 2018 - Josh listed four specific ways we can Make a Difference through MTVchurch (Join an MTVgroup, Give. Financially, Team MTV, Project HOPE).
makes us different than everyone else, they might miss the signs we're becoming unwell. And because .... How does spending time with friends make me feel?
Representative available, either on the Job Site or by phone, with authority to .... A mechanics' lien is a claim, like a mortgage or home equity loan, made against your ... visit CSLB's Web site at www.cslb.ca.gov or call CSLB at 800-321-CSLB.
