ATI (ATI) 10-Q 30 Jul 15 2015 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - USD ($)	6 Months Ended
	Jun. 30, 2015	Jul. 24, 2015	Jun. 30, 2014
Document And Entity Information [Abstract]
Document Type	10-Q
Document Period End Date	Jun. 30, 2015
Amendment Flag	false
Entity Registrant Name	ALLEGHENY TECHNOLOGIES INCORPORATED
Entity Central Index Key	1,018,963
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Entity Well-known Seasoned Issuer	Yes
Entity Common Stock, Shares Outstanding		109,209,729
Document Fiscal Year Focus	2,015
Document Fiscal Period Focus	Q2
Entity Public Float			$ 4,900,000,000

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions	Jun. 30, 2015	Dec. 31, 2014
Current Assets:
Cash and cash equivalents	$ 250.9	$ 269.5
Accounts receivable, net of allowances for doubtful accounts of $4.8 million as of June 30, 2015 and December 31, 2014	593.4	603.6
Inventories, net	1,472.9	1,472.8
Prepaid expenses and other current assets	66.3	136.2
Total current assets	2,383.5	2,482.1
Property, plant and equipment, net	2,946.7	2,961.8
Cost in excess of net assets acquired	781.5	780.4
Other assets	357.6	358.3
Total assets	6,469.3	6,582.6
Current Liabilities:
Accounts payable	487.5	556.7
Accrued liabilities	314.4	323.2
Deferred income taxes	67.8	62.2
Short-term debt and current portion of long-term debt	18.3	17.8
Total current liabilities	888	959.9
Long-term debt	1,502.7	1,509.1
Accrued postretirement benefits	397.1	415.8
Pension liabilities	722.1	739.3
Deferred income taxes	143.6	80.9
Other long-term liabilities	103	156.2
Total liabilities	3,756.5	3,861.2
Redeemable noncontrolling interest	12.1	12.1
ATI Stockholders' Equity:
Preferred stock, par value $0.10: authorized-50,000,000 shares; issued-none	0	0
Common stock, par value $0.10: authorized-500,000,000 shares; issued-109,695,171 shares at June 30, 2015 and December 31, 2014; outstanding- 109,209,730 shares at June 30, 2015 and 108,710,914 shares at December 31, 2014	11	11
Additional paid-in capital	1,154.9	1,164.2
Retained earnings	2,346.3	2,398.9
Treasury stock: 485,441 shares at June 30, 2015 and 984,257 shares at December 31, 2014	(20.6)	(44.3)
Accumulated other comprehensive loss, net of tax	(907.3)	(931.4)
Total ATI stockholders’ equity	2,584.3	2,598.4
Noncontrolling interests
Noncontrolling interests	116.4	110.9
Total Equity	2,700.7	2,709.3
Total Liabilities and Equity	$ 6,469.3	$ 6,582.6

CONSOLIDATED BALANCE SHEETS (PA

CONSOLIDATED BALANCE SHEETS (PARENTHETICAL) - USD ($) $ in Millions	Jun. 30, 2015	Dec. 31, 2014
Statement of Financial Position [Abstract]
Allowances for doubtful accounts	$ 4.8	$ 4.8
Preferred stock, par value	$ 0.10	$ 0.10
Preferred stock, authorized	50,000,000	50,000,000
Preferred stock, issued	0	0
Common stock, par value	$ 0.10	$ 0.10
Common stock, authorized	500,000,000	500,000,000
Common stock, issued	109,695,171	109,695,171
Common stock, oustanding	109,209,730	108,710,914
Treasury stock	485,441	984,257

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Income Statement [Abstract]
Sales	$ 1,022.5	$ 1,119	$ 2,148	$ 2,106.3
Costs and expenses:
Cost of sales	945.5	1,029.5	1,961.5	1,946.6
Selling and administrative expenses	72.4	65.7	135.5	133.4
Income before interest, other income and income taxes	4.6	23.8	51	26.3
Interest expense, net	(26.8)	(28.5)	(53.5)	(57.6)
Other income, net	0.6	1.3	1.5	1.9
Loss from continuing operations before income taxes	(21.6)	(3.4)	(1)	(29.4)
Income tax provision (benefit)	(7.7)	(2.9)	0.3	(12.9)
Loss from continuing operations	(13.9)	(0.5)	(1.3)	(16.5)
Income (loss) from discontinued operations, net of tax	0	(0.2)	0	(2.1)
Net income (loss)	(13.9)	(0.7)	(1.3)	(18.6)
Less: Net income attributable to noncontrolling interests	2.5	3.3	5.1	5.4
Net income (loss) attributable to ATI	$ (16.4)	$ (4)	$ (6.4)	$ (24)
Continuing operations attributable to ATI per common share (in dollars per share)	$ (0.15)	$ (0.03)	$ (0.06)	$ (0.20)
Discontinued operations attributable to ATI per common share (in dollars per share)	0	0	0	(0.02)
Basic net income (loss) attributable to ATI per common share (in dollars per share)	(0.15)	(0.03)	(0.06)	(0.22)
Continuing operations attributable to ATI per common share (in dollars per share)	(0.15)	(0.03)	(0.06)	(0.20)
Discontinued operations attributable to ATI per common share (in dollars per share)	0	0	0	(0.02)
Diluted net income (loss) attributable to ATI per common share (in dollars per share)	(0.15)	(0.03)	(0.06)	(0.22)
Dividends declared per common share (in dollars per share)	$ 0.18	$ 0.18	$ 0.36	$ 0.36
Loss from continuing operations, net of tax	$ (16.4)	$ (3.8)	$ (6.4)	$ (21.9)
Loss from discontinued operations, net of tax	$ 0	$ (0.2)	$ 0	$ (2.1)

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Statement of Comprehensive Income [Abstract]
Net loss	$ (13.9)	$ (0.7)	$ (1.3)	$ (18.6)
Currency translation adjustment
Unrealized net change arising during the period	19.3	7.7	(2.5)	4.4
Unrealized holding gain on securities
Net gain (loss) arising during the period	(0.1)	0.1	(0.1)	0.1
Derivatives
Net derivatives gain (loss) on hedge transactions	(10.4)	12.8	8.1	22.1
Reclassification to net loss of net realized loss (gain)	(2.1)	(0.5)	(4.8)	1.6
Income taxes on derivative transactions	(4.8)	4.7	1.3	9.1
Total	(7.7)	7.6	2	14.6
Postretirement benefit plans
Amortization of net actuarial loss	18.7	22	37.4	44
Amortization to net loss of net prior service cost (credits)	1.5	(0.1)	3	(0.3)
Income taxes on postretirement benefit plans	7.7	8.4	15.4	16.8
Total	12.5	13.5	25	26.9
Other comprehensive income, net of tax	24	28.9	24.4	46
Comprehensive income	10.1	28.2	23.1	27.4
Less: Comprehensive income attributable to noncontrolling interests	3	2.2	5.4	2.4
Comprehensive income attributable to ATI	$ 7.1	$ 26	$ 17.7	$ 25

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014
Operating Activities:
Net loss	$ (1.3)	$ (18.6)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:
Depreciation and amortization	93.6	87.5
Deferred taxes	(9.6)	10.5
Changes in operating asset and liabilities:
Inventories	(0.1)	(78)
Accounts receivable	10.2	(119.7)
Accounts payable	(69.3)	82.2
Retirement benefits	5	10.9
Accrued income taxes	60.2	(29.3)
Accrued liabilities and other	2.8	17
Cash provided by (used in) operating activities	91.5	(37.5)
Investing Activities:
Purchases of property, plant and equipment	(63.3)	(97.9)
Purchases of businesses, net of cash acquired	(0.5)	(92.5)
Asset disposals and other	0	2.1
Cash used in investing activities	(63.8)	(188.3)
Financing Activities:
Payments on long-term debt and capital leases	(6.3)	(403.4)
Dividends paid to stockholders	(38.6)	(38.6)
Shares repurchased for income tax withholding on share-based compensation	(1.4)	(3.9)
Cash used in financing activities	(46.3)	(445.9)
Increase (decrease) in cash and cash equivalents
Decrease in cash and cash equivalents	(18.6)	(671.7)
Cash and cash equivalents at beginning of period	269.5	1,026.8
Cash and cash equivalents at end of period	$ 250.9	$ 355.1

STATEMENTS OF CHANGES IN CONSOL

STATEMENTS OF CHANGES IN CONSOLIDATED EQUITY - USD ($) $ in Millions	Total	[CommonStockMember]	[AdditionalPaidInCapitalMember]	[RetainedEarningsMember]	[TreasuryStockMember]	[AccumulatedOtherComprehensiveIncomeMember]	[NoncontrollingInterestMember]
Total Stockholders' Equity at Dec. 31, 2013	$ 2,994.7	$ 11	$ 1,185.9	$ 2,490.1	$ (79.6)	$ (713.2)	$ 100.5
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	(18.6)			(24)			5.4
Other comprehensive income	46					49	(3)
Cash dividends on common stock ($0.36 per share)	(38.6)			(38.6)
Conversion of convertible notes	5			(0.5)	5.5
Employee stock plans	(9.9)		(29.3)	(10.5)	29.9
Total Stockholders' Equity at Jun. 30, 2014	2,978.6	11	1,156.6	2,416.5	(44.2)	(664.2)	102.9
Total Stockholders' Equity at Dec. 31, 2014	2,709.3	11	1,164.2	2,398.9	(44.3)	(931.4)	110.9
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	(1.3)			(6.4)			5.1
Other comprehensive income	24.4					24.1	0.3
Cash dividends on common stock ($0.36 per share)	(38.6)			(38.6)
Redeemable noncontrolling interest	0			(0.1)			0.1
Employee stock plans	6.9		(9.3)	(7.5)	23.7
Total Stockholders' Equity at Jun. 30, 2015	$ 2,700.7	$ 11	$ 1,154.9	$ 2,346.3	$ (20.6)	$ (907.3)	$ 116.4

STATEMENTS OF CHANGES IN CONSO8

STATEMENTS OF CHANGES IN CONSOLIDATED EQUITY (PARENTHETICAL) - $ / shares	6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014
Statement of Stockholders' Equity [Abstract]
Cash dividends on common stock per share	$ 0.36	$ 0.36

Accounting Policies

Accounting Policies	6 Months Ended
	Jun. 30, 2015
Accounting Policies [Abstract]
Accounting Policies	Accounting Policies The interim consolidated financial statements include the accounts of Allegheny Technologies Incorporated and its subsidiaries. Unless the context requires otherwise, “Allegheny Technologies”, “ATI” and “the Company” refer to Allegheny Technologies Incorporated and its subsidiaries. These unaudited consolidated financial statements have been prepared in accordance with U.S. generally accepted accounting principles for interim financial information and with the instructions for Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all of the information and note disclosures required by U.S. generally accepted accounting principles for complete financial statements. In management’s opinion, all adjustments (which include only normal recurring adjustments) considered necessary for a fair presentation have been included. These unaudited consolidated financial statements should be read in conjunction with the consolidated financial statements and notes thereto included in the Company’s 2014 Annual Report on Form 10-K. The results of operations for these interim periods are not necessarily indicative of the operating results for any future period. The December 31, 2014 financial information has been derived from the Company’s audited consolidated financial statements. In 2013, the Company sold or announced closures of certain businesses that are reported as discontinued operations. Remaining closure activities were completed in 2014. Financial results for discontinued operations for the three and six months ended June 30, 2014 were sales of $6.4 million and $11.6 million , respectively, and pretax losses of $0.2 million and $3.0 million , respectively. New Accounting Pronouncements Adopted In January 2015, the Company adopted changes issued by the Financial Accounting Standards Board (FASB) to the criteria for reporting discontinued operations. Under the new criteria, a disposal of a component of an entity is required to be reported as discontinued operations only if the disposal represents a strategic shift that has, or will have, a major effect on an entity’s operations and financial results. The criteria that there be no significant continuing involvement in the operations of the component after the disposal transaction has been removed under the new guidance. The new guidance also requires the presentation of the assets and liabilities of a disposal group that includes a discontinued operation for each comparative period and requires additional disclosures about discontinued operations, including the major line items constituting the pretax profit or loss of the discontinued operation, certain cash flow information for the discontinued operation, expanded disclosures about an entity’s significant continuing involvement in a discontinued operation, and disclosures about a disposal of an individually significant component of an entity that does not qualify for discontinued operations presentation. The provisions of the new guidance are effective for all disposals that occur for the Company beginning in fiscal year 2015. The adoption of these changes had no impact on the consolidated financial statements. Pending Accounting Pronouncements In July 2015, the FASB issued changes to simplify the measurement of inventory valuation at the lower of cost or net realizable value. Net realizable value is the estimated selling price in the ordinary course of business, less reasonably predictable costs of completion, disposal and transportation. The new inventory measurement requirements are effective for the Company’s 2017 fiscal year, and will replace the current inventory valuation guidance that requires the use of a lower of cost or market framework. This change in the measurement of inventory does not apply to inventory valued on LIFO, which is the accounting basis used for most of the Company’s inventory. The adoption of these changes is not expected to have a material impact to the Company’s consolidated financial statements. In April 2015, the FASB issued new guidance on presentation of debt issuance costs. This guidance requires that debt issuance costs related to a recognized debt liability be presented in the balance sheet as a direct deduction from the carrying amount of that debt liability. The recognition and measurement guidance for debt issuance costs are not affected by the amendments in this guidance. This update will be effective for the Company beginning in fiscal year 2016, with early adoption permitted, and is applied on a retrospective basis. The Company plans to adopt this new guidance in the fourth quarter of fiscal year 2015. As of June 30, 2015 and December 31, 2014 , the Company had $10.2 million and $10.9 million , respectively, of debt issuance costs reported as assets on the consolidated balance sheet that will be reclassified to a reduction of the carrying amount of the debt liability upon the Company’s adoption of this new guidance. In May 2014, the FASB issued changes to revenue recognition with customers. This update provides a five-step analysis of transactions to determine when and how revenue is recognized. An entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. In July 2015, the FASB approved a one-year deferral of the effective date of this new guidance resulting in it now being effective for the Company beginning in fiscal year 2018. This update may be applied retrospectively to each prior reporting period presented or retrospectively with the cumulative effect of initially applying this update recognized at the date of initial application. The Company is currently evaluating the impact of the new guidance on its consolidated financial statements.

Inventories

Inventories	6 Months Ended
	Jun. 30, 2015
Inventory Disclosure [Abstract]
Inventories	Inventories Inventories at June 30, 2015 and December 31, 2014 were as follows (in millions): June 30, December 31, Raw materials and supplies $ 239.2 $ 249.3 Work-in-process 1,166.3 1,184.1 Finished goods 191.8 172.2 Total inventories at current cost 1,597.3 1,605.6 Adjustment from current cost to LIFO cost basis 9.3 4.8 Inventory valuation reserves (71.0 ) (68.8 ) Progress payments (62.7 ) (68.8 ) Total inventories, net $ 1,472.9 $ 1,472.8 Inventories are stated at the lower of cost (last-in, first-out (“LIFO”), first-in, first-out (“FIFO”), and average cost methods) or market, less progress payments. Most of the Company’s inventory is valued utilizing the LIFO costing methodology. Inventory of the Company’s non-U.S. operations is valued using average cost or FIFO methods. The effect of using the LIFO methodology to value inventory, rather than FIFO, decreased cost of sales by $4.5 million for the first six months of 2015 , which was offset by a $4.3 million increase in net realizable value reserves on the carrying value of LIFO-based inventory. The first six months of 2014 results included a $37.9 million increase in cost of sales from using the LIFO costing methodology, which was offset by a $35.0 million reduction in net realizable value reserves on the carrying value of LIFO-based inventory. The first six months of 2015 and 2014 results included $11.4 million and $13.1 million , respectively, in inventory valuation charges related to the market-based valuation of industrial titanium products in the Flat Rolled Products segment.

Property Plant And Equipment

Property Plant And Equipment	6 Months Ended
	Jun. 30, 2015
Property, Plant and Equipment [Abstract]
Property Plant and Equipment	Property, Plant and Equipment Property, plant and equipment at June 30, 2015 and December 31, 2014 was as follows (in millions): June 30, December 31, Land $ 30.4 $ 30.2 Buildings 1,051.2 1,048.9 Equipment and leasehold improvements 3,762.4 3,702.5 4,844.0 4,781.6 Accumulated depreciation and amortization (1,897.3 ) (1,819.8 ) Total property, plant and equipment, net $ 2,946.7 $ 2,961.8 The construction in progress portion of property, plant and equipment at June 30, 2015 was $65.6 million .

Debt

Debt	6 Months Ended
	Jun. 30, 2015
Debt Disclosure [Abstract]
Debt	Debt Debt at June 30, 2015 and December 31, 2014 was as follows (in millions): June 30, December 31, Allegheny Technologies 5.875% Notes due 2023 (a) $ 500.0 $ 500.0 Allegheny Technologies 5.95% Notes due 2021 500.0 500.0 Allegheny Technologies 9.375% Notes due 2019 350.0 350.0 Allegheny Ludlum 6.95% debentures due 2025 150.0 150.0 ATI Ladish Series B 6.14% Notes due 2016 (b) 5.9 11.9 ATI Ladish Series C 6.41% Notes due 2015 (c) 10.1 10.3 Domestic Bank Group $400 million credit facility — — Foreign credit facilities — — Industrial revenue bonds, due through 2020, and other 5.0 4.7 Total short-term and long-term debt 1,521.0 1,526.9 Short-term debt and current portion of long-term debt 18.3 17.8 Total long-term debt $ 1,502.7 $ 1,509.1 (a) Bearing interest at 6.375% effective February 15, 2015. (b) Includes fair value adjustments of $0.2 million at June 30, 2015 and $0.4 million at December 31, 2014 . (c) Includes fair value adjustments of $0.1 million at June 30, 2015 and $0.3 million at December 31, 2014 . During the first quarter of 2015, Standard & Poor’s (“S&P”) downgraded the Company’s credit rating one notch to BB+ from BBB-, resulting in an increase of the interest rate on the Senior Notes due 2023 (the “2023 Notes”) from 6.125% as of December 31, 2014 to 6.375% effective with the interest period beginning February 15, 2015. Future downgrades of the Company’s credit ratings could result in additional increases to the interest cost with respect to the 2023 Notes. There were no outstanding borrowings made under the Company’s $400 million senior domestic credit facility (“credit facility”) as of June 30, 2015 , although approximately $4.6 million has been utilized to support the issuance of letters of credit. Average borrowings under the credit facility for the first six months of 2015 were $49.8 million , bearing an average annual interest rate of 2.1% . The credit facility provides for a springing lien on certain of the Company’s accounts receivable and inventory. This springing lien became effective during the first quarter of 2015 as the Company’s credit ratings from both S&P’s and Moody’s are now below investment grade following S&P’s downgrade in the first quarter 2015 discussed above. This springing lien is subsequently released if the Company’s credit rating returns to investment grade from either rating agency, assuming no event of default condition exists. The credit facility requires the Company to maintain a leverage ratio (measured as consolidated total indebtedness net of cash on hand in excess of $50 million , divided by consolidated EBITDA, defined as earnings before interest, taxes, depreciation and amortization, and non-cash pension expense, with the definition of consolidated EBIT excluding any gain or loss attributable to sale or other dispositions of assets outside the ordinary course of business, for the four prior fiscal quarters) of not greater than 4.50 for the quarter ended June 30, 2015, 3.75 for the quarter ended September 30, 2015, and 3.50 for the quarter ended December 31, 2015 and for each fiscal quarter thereafter. The credit facility also requires the Company to maintain an interest coverage ratio (consolidated EBITDA as calculated for the leverage ratio, divided by interest expense) of not less than 3.00 for the quarter ended June 30, 2015, 3.25 for the quarter ended September 30, 2015, and 3.50 for the quarter ended December 31, 2015 and for each fiscal quarter thereafter. At June 30, 2015 , the leverage ratio was 3.93 and the interest coverage ratio was 3.13 . While the Company was in compliance with these required financial ratios during all applicable periods through June 30, 2015, the Company does not expect to meet these required credit facility financial ratios at September 30, 2015, the next quarterly measurement period. In the third quarter 2015, the Company expects to replace the current revolving credit facility with an asset-based lending facility at the same $400 million borrowing capacity. The Company has an additional separate credit facility for the issuance of letters of credit. As of June 30, 2015 , $32 million in letters of credit were outstanding under this facility. Shanghai STAL Precision Stainless Steel Company Limited (STAL), the Company’s Chinese joint venture company in which ATI has a 60% interest, is in the process of amending a separate $20 million revolving credit facility entered into in April 2015. As amended, borrowings under the STAL revolving credit facility are in U.S. dollars based on U.S. interbank offered rates. The credit facility is supported solely by STAL’s financial capability without any guarantees from the joint venture partners. The credit facility requires STAL to maintain a minimum level of shareholders’ equity, and certain financial ratios. The ATI Ladish Series B and Series C Notes are guaranteed by ATI and are equally ranked with all of ATI’s existing and future senior unsecured debt.

Derivative Financial Instrument

Derivative Financial Instruments and Hedging	6 Months Ended
	Jun. 30, 2015
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative Financial Instruments and Hedging	Derivative Financial Instruments and Hedging As part of its risk management strategy, the Company, from time-to-time, utilizes derivative financial instruments to manage its exposure to changes in raw material prices, energy costs, foreign currencies, and interest rates. In accordance with applicable accounting standards, the Company accounts for most of these contracts as hedges. In general, hedge effectiveness is determined by examining the relationship between offsetting changes in fair value or cash flows attributable to the item being hedged, and the financial instrument being used for the hedge. Effectiveness is measured utilizing regression analysis and other techniques to determine whether the change in the fair market value or cash flows of the derivative exceeds the change in fair value or cash flow of the hedged item. Calculated ineffectiveness, if any, is immediately recognized in the consolidated statements of operations. The Company sometimes uses futures and swap contracts to manage exposure to changes in prices for forecasted purchases of raw materials, such as nickel, and natural gas. Under these contracts, which are generally accounted for as cash flow hedges, the price of the item being hedged is fixed at the time that the contract is entered into and the Company is obligated to make or receive a payment equal to the net change between this fixed price and the market price at the date the contract matures. The majority of ATI’s products are sold utilizing raw material surcharges and index mechanisms. However, as of June 30, 2015 , the Company had entered into financial hedging arrangements, primarily at the request of its customers, related to firm orders, for an aggregate notional amount of approximately 20% of its estimated annual nickel requirements. These nickel hedges extend to 2020. At June 30, 2015 , the outstanding financial derivatives used to hedge the Company’s exposure to energy cost volatility included natural gas cost hedges for approximately 80% of its annual forecasted domestic requirements for 2015, approximately 80% for 2016, and approximately 50% for 2017. While the majority of the Company’s direct export sales are transacted in U.S. dollars, foreign currency exchange contracts are used, from time-to-time, to limit transactional exposure to changes in currency exchange rates for those transactions denominated in a non-U.S. currency. The Company sometimes purchases foreign currency forward contracts that permit it to sell specified amounts of foreign currencies expected to be received from its export sales for pre-established U.S. dollar amounts at specified dates. The forward contracts are denominated in the same foreign currencies in which export sales are denominated. These contracts are designated as hedges of the variability in cash flows of a portion of the forecasted future export sales transactions which otherwise would expose the Company to foreign currency risk, primarily euros. At June 30, 2015 , the Company held euro forward sales contracts designated as hedges with a notional value of approximately 334 million euro with maturity dates through June 2018, including approximately 103 million euro with maturities in 2015. In addition, the Company may also designate cash balances held in foreign currencies as hedges of forecasted foreign currency transactions. During the first quarter of 2015, the Company net settled 126.5 million euro notional value of foreign currency forward contracts designated as cash flow hedges with 2015 maturity dates, receiving cash proceeds of $26.1 million which is reported in cash provided by operating activities on the consolidated cash flow statement. Deferred gains on these settled cash flow hedges currently recognized in accumulated other comprehensive income will be reclassified to earnings when the underlying transactions occur. The Company subsequently entered into 115 million euro notional value of foreign currency forward contracts designated as fair value hedges in the first quarter of 2015, all with 2015 maturity dates and of which 69 million euro notional was outstanding as of June 30, 2015 . The Company recorded a $1.9 million and $7.4 million benefit in costs of sales on the consolidated statement of operations in the second quarter and six months ended June 30, 2015 , respectively, for mark-to-market changes on these fair value hedges. The Company may enter into derivative interest rate contracts to maintain a reasonable balance between fixed- and floating-rate debt. There were no unsettled derivative financial instruments related to debt balances for the periods presented. There are no credit risk-related contingent features in the Company’s derivative contracts, and the contracts contained no provisions under which the Company has posted, or would be required to post, collateral. The counterparties to the Company’s derivative contracts are substantial and creditworthy commercial banks that are recognized market makers. The Company controls its credit exposure by diversifying across multiple counterparties and by monitoring credit ratings and credit default swap spreads of its counterparties. The Company also enters into master netting agreements with counterparties when possible. The fair values of the Company’s derivative financial instruments are presented below, representing the gross amounts recognized which are not offset by counterparty or by type of item hedged. All fair values for these derivatives were measured using Level 2 information as defined by the accounting standard hierarchy, which includes quoted prices for similar assets or liabilities in active markets, quoted prices for identical or similar assets or liabilities in markets that are not active, and inputs derived principally from or corroborated by observable market data. (In millions) Asset derivatives Balance sheet location June 30, December 31, Derivatives designated as hedging instruments: Foreign exchange contracts Prepaid expenses and other current assets $ 25.2 $ 23.6 Nickel and other raw material contracts Prepaid expenses and other current assets — 1.1 Foreign exchange contracts Other assets 32.9 28.3 Nickel and other raw material contracts Other assets — 0.5 Total derivatives designated as hedging instruments 58.1 53.5 Derivatives not designated as hedging instruments: Foreign exchange contracts Prepaid expenses and other current assets — 6.4 Total derivatives not designated as hedging instruments — 6.4 Total asset derivatives $ 58.1 $ 59.9 Liability derivatives Balance sheet location Derivatives designated as hedging instruments: Natural gas contracts Accrued liabilities $ 10.9 $ 10.2 Nickel and other raw material contracts Accrued liabilities 10.7 5.8 Electricity contracts Accrued liabilities — 0.1 Natural gas contracts Other long-term liabilities 8.9 7.9 Nickel and other raw material contracts Other long-term liabilities 10.5 3.0 Total derivatives designated as hedging instruments 41.0 27.0 Derivatives not designated as hedging instruments: Foreign exchange contracts Accrued liabilities 1.2 — Total derivatives not designated as hedging instruments 1.2 — Total liability derivatives $ 42.2 $ 27.0 For derivative financial instruments that are designated as cash flow hedges, the effective portion of the gain or loss on the derivative is reported as a component of other comprehensive income (OCI) and reclassified into earnings in the same period or periods during which the hedged item affects earnings. Gains and losses on the derivative representing either hedge ineffectiveness or hedge components excluded from the assessment of effectiveness are recognized in current period results. For derivative financial instruments that are designated as fair value hedges, changes in the fair value of these derivatives are recognized in current period results. The Company did not use net investment hedges for the periods presented. The effects of derivative instruments in the tables below are presented net of related income taxes. Assuming market prices remain constant with those at June 30, 2015 , a gain of $2.2 million is expected to be recognized over the next 12 months. Activity with regard to derivatives designated as cash flow hedges for the three and six month periods ended June 30, 2015 and 2014 was as follows (in millions): Amount of Gain (Loss) Recognized in OCI on Derivatives (Effective Portion) Amount of Gain (Loss) Reclassified from Accumulated OCI into Income (Effective Portion) (a) Amount of Gain (Loss) Recognized in Income on Derivatives (Ineffective Portion and Amount Excluded from Effectiveness Testing) (b) Derivatives in Cash Flow Three months ended June 30, Three months ended June 30, Three months ended June 30, Hedging Relationships 2015 2014 2015 2014 2015 2014 Nickel and other raw material contracts $ (3.5 ) $ 7.1 $ (2.4 ) $ 0.9 $ — $ — Natural gas contracts 0.2 (1.0 ) (2.4 ) 1.0 — — Electricity contracts — (0.1 ) — 0.1 — — Foreign exchange contracts (3.1 ) 1.9 6.1 (1.7 ) — — Total $ (6.4 ) $ 7.9 $ 1.3 $ 0.3 $ — $ — Amount of Gain (Loss) Recognized in OCI on Derivatives (Effective Portion) Amount of Gain (Loss) Reclassified from Accumulated OCI into Income (Effective Portion) (a) Amount of Gain (Loss) Recognized in Income on Derivatives (Ineffective Portion and Amount Excluded from Effectiveness Testing) (b) Derivatives in Cash Flow Six months ended June 30, Six months ended June 30, Six months ended June 30, Hedging Relationships 2015 2014 2015 2014 2015 2014 Nickel and other raw material contracts $ (13.1 ) $ 10.1 $ (4.6 ) $ (0.8 ) $ — $ — Natural gas contracts (5.8 ) 1.3 (4.8 ) 2.4 — — Electricity contracts — 0.8 (0.1 ) 0.5 — — Foreign exchange contracts 23.9 1.4 12.5 (3.1 ) — — Total $ 5.0 $ 13.6 $ 3.0 $ (1.0 ) $ — $ — (a) The gains (losses) reclassified from accumulated OCI into income related to the effective portion of the derivatives are presented in cost of sales in the same period or periods in which the hedged item affects earnings. (b) The gains (losses) recognized in income on derivatives related to the ineffective portion and the amount excluded from effectiveness testing are presented in selling and administrative expenses. The disclosures of gains or losses presented above for nickel and other raw material contracts and foreign currency contracts do not take into account the anticipated underlying transactions. Since these derivative contracts represent hedges, the net effect of any gain or loss on results of operations may be fully or partially offset. During the first quarter of 2015, the Company net settled 40.3 million euro notional value of foreign currency forward contracts that were not designated as hedges, receiving cash proceeds of $11.8 million which is reported in cash provided by operating activities on the consolidated cash flow statement. The Company also entered into 33 million euro notional value of foreign currency forward contracts not designated as hedges in the first quarter of 2015, all of which are still outstanding as of June 30, 2015 and with maturity dates through June 2016. Derivatives that are not designated as hedging instruments were as follows: (In millions) Amount of Gain (Loss) Recognized in Income on Derivatives Derivatives Not Designated Three months ended June 30, Six months ended June 30, as Hedging Instruments 2015 2014 2015 2014 Foreign exchange contracts $ (0.5 ) $ 0.9 $ 3.0 $ 1.1 Changes in the fair value of foreign exchange contract derivatives not designated as hedging instruments are recorded in cost of sales.

Fair Value Of Financial Instrum

Fair Value Of Financial Instruments	6 Months Ended
	Jun. 30, 2015
Fair Value Disclosures [Abstract]
Fair Value Of Financial Instruments	Fair Value of Financial Instruments The estimated fair value of financial instruments at June 30, 2015 was as follows: Fair Value Measurements at Reporting Date Using (In millions) Total Carrying Amount Total Estimated Fair Value Quoted Prices in Active Markets for Identical Assets(Level 1) Significant Observable Inputs (Level 2) Cash and cash equivalents $ 250.9 $ 250.9 $ 250.9 $ — Derivative financial instruments: Assets 58.1 58.1 — 58.1 Liabilities 42.2 42.2 — 42.2 Debt 1,521.0 1,624.9 1,603.9 21.0 The estimated fair value of financial instruments at December 31, 2014 was as follows: Fair Value Measurements at Reporting Date Using (In millions) Total Carrying Amount Total Estimated Fair Value Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Observable Inputs (Level 2) Cash and cash equivalents $ 269.5 $ 269.5 $ 269.5 $ — Derivative financial instruments: Assets 59.9 59.9 — 59.9 Liabilities 27.0 27.0 — 27.0 Debt 1,526.9 1,616.0 1,589.1 26.9 In accordance with accounting standards, fair value is defined as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants at the measurement date. Accounting standards established three levels of a fair value hierarchy that prioritizes the inputs used to measure fair value. This hierarchy requires entities to maximize the use of observable inputs and minimize the use of unobservable inputs. The three levels of inputs used to measure fair value are as follows: Level 1 – Quoted prices in active markets for identical assets or liabilities. Level 2 – Observable inputs other than quoted prices included in Level 1, such as quoted prices for similar assets and liabilities in active markets; quoted prices for identical or similar assets and liabilities in markets that are not active; or other inputs that are observable or can be corroborated by observable market data. Level 3 – Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets and liabilities. This includes certain pricing models, discounted cash flow methodologies and similar techniques that use significant unobservable inputs. The availability of observable market data is monitored to assess the appropriate classification of financial instruments within the fair value hierarchy. Changes in economic conditions or model-based valuation techniques may require the transfer of financial instruments from one fair value level to another. In such instances, the transfer is reported at the beginning of the reporting period. No transfers between levels were reported in 2015 or 2014 . The following methods and assumptions were used by the Company in estimating the fair value of its financial instruments: Cash and cash equivalents: Fair value was determined using Level 1 information. Derivative financial instruments: Fair values for derivatives were measured using exchange-traded prices for the hedged items. The fair value was determined using Level 2 information, including consideration of counterparty risk and the Company’s credit risk. Short-term and long-term debt: The fair values of the Company’s publicly traded debt were based on Level 1 information. The fair values of the other short-term and long-term debt were determined using Level 2 information.

Pension Plans and Other Postret

Pension Plans and Other Postretirement Benefits	6 Months Ended
	Jun. 30, 2015
Compensation and Retirement Disclosure [Abstract]
Pension Plans and Other Postretirement Benefits	Pension Plans and Other Postretirement Benefits The Company has defined benefit pension plans or defined contribution plans covering substantially all employees. Benefits under the defined benefit pension plans are generally based on years of service and/or final average pay. The Company funds the U.S. pension plans in accordance with the Employee Retirement Income Security Act of 1974, as amended, and the Internal Revenue Code. The Company also sponsors several postretirement plans covering certain salaried and hourly employees. The plans provide health care and life insurance benefits for eligible retirees. In most plans, Company contributions towards premiums are capped based on the cost as of a certain date, thereby creating a defined contribution. For the non-collectively bargained plans, the Company maintains the right to amend or terminate the plans at its discretion. For the three month periods ended June 30, 2015 and 2014 , the components of pension expense and components of other postretirement benefit expense for the Company’s defined benefit plans included the following (in millions): Pension Benefits Other Postretirement Benefits Three months ended June 30, Three months ended June 30, 2015 2014 2015 2014 Service cost - benefits earned during the year $ 5.7 $ 7.3 $ 0.7 $ 0.7 Interest cost on benefits earned in prior years 30.2 33.4 4.5 6.0 Expected return on plan assets (42.0 ) (46.0 ) — (0.1 ) Amortization of prior service cost (credit) 0.3 0.6 1.2 (0.7 ) Amortization of net actuarial loss 15.1 18.5 3.6 3.5 Termination benefits — 0.3 — — Total retirement benefit expense $ 9.3 $ 14.1 $ 10.0 $ 9.4 For the six month periods ended June 30, 2015 and 2014 , the components of pension expense and components of other postretirement benefit expense for the Company’s defined benefit plans included the following (in millions): Pension Benefits Other Postretirement Benefits Six months ended June 30, Six months ended June 30, 2015 2014 2015 2014 Service cost - benefits earned during the year $ 11.4 $ 14.7 $ 1.4 $ 1.4 Interest cost on benefits earned in prior years 60.5 66.8 9.0 12.0 Expected return on plan assets (84.1 ) (92.1 ) — (0.1 ) Amortization of prior service cost (credit) 0.6 1.2 2.4 (1.5 ) Amortization of net actuarial loss 30.2 37.0 7.2 7.0 Termination benefits — 0.3 — — Total retirement benefit expense $ 18.6 $ 27.9 $ 20.0 $ 18.8 Other postretirement benefit costs for a defined contribution plan were $0.6 million and $1.3 million for the three and six months ended June 30, 2014 , respectively.

Income Taxes

Income Taxes	6 Months Ended
	Jun. 30, 2015
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes Second quarter 2015 results included a benefit for income taxes of $7.7 million , or 35.6% of loss from continuing operations before income tax, compared to a benefit of $2.9 million , or 85.3% of loss from continuing operations before income tax, for the 2014 comparable period. Income taxes in the second quarter of 2015 included discrete tax expense of $0.7 million and income taxes in the second quarter of 2014 included discrete tax benefits of $2.2 million primarily associated with adjustments to prior years’ taxes. During the second quarter of 2015, the Company resolved various uncertain tax position matters related to temporary differences which resulted in $60.9 million of the long-term liability for uncertain tax positions being reclassified as a deferred tax liability at June 30, 2015. For the first six months of 2015 , the provision for income taxes was $0.3 million , compared to a benefit for income taxes of $12.9 million , for the 2014 comparable period. The income tax rate in 2015 and 2014 is impacted by the Company’s inability to use the federal domestic manufacturing deduction tax benefit due to net operating loss carryforwards. The first six months of 2015 included discrete tax expense of $0.9 million and the first six months of 2014 included discrete tax benefits of $4.4 million , primarily associated with adjustments to prior years’ and foreign taxes. A federal income tax refund of $59.9 million was received in the first quarter of 2015. For the three and six months ended June 30, 2015 and 2014, the Company determined that it was unable to make a reliable estimate of the annual effective tax rate, as significant changes in projected results for the Company’s domestic operations can produce a significant variation in its annual effective tax rate. Therefore, the Company recorded a tax benefit/provision for the three and six months ended June 30, 2015 and 2014 based on the actual year to date effective rate for these periods.

Business Segments

Business Segments	6 Months Ended
	Jun. 30, 2015
Segment Reporting [Abstract]
Business Segments	Business Segments The Company operates in two business segments: High Performance Materials & Components and Flat Rolled Products. The measure of segment operating profit, which is used to analyze the performance and results of the business segments, excludes income taxes, corporate expenses, net interest expense, retirement benefit expense, closed company expenses and restructuring costs, if any. Discontinued operations are also excluded. Management believes segment operating profit, as defined, provides an appropriate measure of controllable operating results at the business segment level. Following is certain financial information with respect to the Company’s business segments for the periods indicated (in millions): Three months ended June 30, Six months ended June 30, 2015 2014 2015 2014 Total sales: High Performance Materials & Components $ 533.5 $ 531.4 $ 1,098.4 $ 1,035.5 Flat Rolled Products 533.5 630.5 1,138.2 1,160.1 1,067.0 1,161.9 2,236.6 2,195.6 Intersegment sales: High Performance Materials & Components 22.4 17.3 44.5 37.0 Flat Rolled Products 22.1 25.6 44.1 52.3 44.5 42.9 88.6 89.3 Sales to external customers: High Performance Materials & Components 511.1 514.1 1,053.9 998.5 Flat Rolled Products 511.4 604.9 1,094.1 1,107.8 $ 1,022.5 $ 1,119.0 $ 2,148.0 $ 2,106.3 Operating profit (loss): High Performance Materials & Components $ 42.6 $ 85.1 $ 118.5 $ 154.2 Flat Rolled Products (3.4 ) (19.9 ) 4.5 (45.5 ) Total operating profit 39.2 65.2 123.0 108.7 Corporate expenses (9.2 ) (11.7 ) (21.0 ) (23.2 ) Interest expense, net (26.8 ) (28.5 ) (53.5 ) (57.6 ) Closed company and other expenses (5.5 ) (4.3 ) (10.9 ) (9.3 ) Retirement benefit expense (19.3 ) (24.1 ) (38.6 ) (48.0 ) Loss from continuing operations before income taxes $ (21.6 ) $ (3.4 ) $ (1.0 ) $ (29.4 ) Retirement benefit expense represents defined benefit pension expense and other postretirement benefit expense for both defined benefit and defined contribution plans. Operating profit with respect to the Company’s business segments excludes any retirement benefit expense. Costs associated with multiemployer pension plans are included in segment operating profit, and costs associated with defined contribution retirement plans are included in segment operating profit or corporate expenses, as applicable. Interest expense, net of interest income, in the second quarter 2015 was $26.8 million , compared to net interest expense of $28.5 million in the second quarter 2014 . The decrease in interest expense was primarily due to lower debt levels. Interest expense benefited from the capitalization of interest costs of $0.5 million in the second quarter 2015 compared to $1.4 million in the second quarter 2014 .

Redeemable Noncontrolling Inter

Redeemable Noncontrolling Interest	6 Months Ended
	Jun. 30, 2015
Noncontrolling Interest [Abstract]
Redeemable Noncontrolling Interest	Redeemable Noncontrolling Interest The holders of the 15% noncontrolling interest in ATI Flowform Products have a put option to require the Company to purchase their equity interest at a redemption value determinable from a specified formula based on a multiple of EBITDA (subject to a fixed minimum linked to the original acquisition date value). The put option is fully exercisable beginning in the second quarter of 2017, and is also exercisable under certain other circumstances. The put option cannot be separated from the noncontrolling interest, and the combination of a noncontrolling interest and the redemption feature requires classification as redeemable noncontrolling interest in the consolidated balance sheet, separate from Stockholders’ Equity. The carrying amount of the redeemable noncontrolling interest approximates its maximum redemption value. Any subsequent change in maximum redemption value is adjusted through retained earnings. The adjustment to the carrying amount for the six months ended June 30, 2015 reduced retained earnings by $0.1 million . The Company applied the two-class method of calculating earnings per share, and as such this adjustment to the carrying amount was reflected in earnings per share. The redeemable noncontrolling interest was $12.1 million as of June 30, 2015 and December 31, 2014 , which was unchanged from the acquisition date value.

Per Share Information

Per Share Information	6 Months Ended
	Jun. 30, 2015
Earnings Per Share [Abstract]
Per Share Information	Per Share Information The following table sets forth the computation of basic and diluted income from continuing operations per common share: Three months ended Six months ended (In millions, except per share amounts) June 30, June 30, 2015 2014 2015 2014 Numerator for basic loss from continuing operations per common share – Loss from continuing operations attributable to ATI $ (16.4 ) $ (3.8 ) $ (6.4 ) $ (21.9 ) Redeemable noncontrolling interest (Note 10) — — (0.1 ) — Numerator for diluted loss from continuing operations per common share – Loss from continuing operations available to ATI after assumed conversions $ (16.4 ) $ (3.8 ) $ (6.5 ) $ (21.9 ) Denominator for basic net loss per common share-weighted average shares 107.3 107.1 107.2 107.0 Effect of dilutive securities: Share-based compensation — — — — 4.25% Convertible Notes due 2014 — — — — Denominator for diluted net loss per common share – adjusted weighted average shares assuming conversions 107.3 107.1 107.2 107.0 Basic loss from continuing operations attributable to ATI per common share $ (0.15 ) $ (0.03 ) $ (0.06 ) $ (0.20 ) Diluted loss from continuing operations attributable to ATI per common share $ (0.15 ) $ (0.03 ) $ (0.06 ) $ (0.20 ) Common stock that would be issuable upon the assumed conversion of the 2014 Convertible Notes (prior to maturity on June 2, 2014) and other option equivalents and contingently issuable shares are excluded from the computation of contingently issuable shares, and therefore, from the denominator for diluted earnings per share, if the effect of inclusion is anti-dilutive. There were 1.2 million and 1.0 million anti-dilutive shares for the three and six month periods ended June 30, 2015 , respectively, and 7.0 million and 8.5 million anti-dilutive shares for the three and six month periods ended June 30, 2014 , respectively.

Financial Information for Subsi

Financial Information for Subsidiary and Guarantor Parent	6 Months Ended
	Jun. 30, 2015
Condensed Financial Information of Parent Company Only Disclosure [Abstract]
Financial Information for Subsidiary and Guarantor Parent	Financial Information for Subsidiary and Guarantor Parent The payment obligations under the $150 million 6.95% debentures due 2025 issued by Allegheny Ludlum, LLC (the “Subsidiary”) are fully and unconditionally guaranteed by Allegheny Technologies Incorporated (the “Guarantor Parent”). In accordance with positions established by the Securities and Exchange Commission, the following financial information sets forth separately financial information with respect to the Subsidiary, the Non-guarantor Subsidiaries and the Guarantor Parent. The principal elimination entries eliminate investments in subsidiaries and certain intercompany balances and transactions. ATI is the plan sponsor for the U.S. qualified defined benefit pension plan (the “Plan”) which covers certain current and former employees of the Subsidiary and the Non-guarantor Subsidiaries. As a result, the balance sheets presented for the Subsidiary and the Non-guarantor Subsidiaries do not include any Plan assets or liabilities, or the related deferred taxes. The Plan assets, liabilities and related deferred taxes and pension income or expense are recognized by the Guarantor Parent. Management and royalty fees charged to the Subsidiary and to the Non-guarantor Subsidiaries by the Guarantor Parent have been excluded solely for purposes of this presentation. Allegheny Technologies Incorporated Financial Information for Subsidiary and Guarantor Parent Balance Sheets June 30, 2015 (In millions) Guarantor Parent Subsidiary Non-guarantor Subsidiaries Eliminations Consolidated Assets: Cash and cash equivalents $ 5.2 $ 14.9 $ 230.8 $ — $ 250.9 Accounts receivable, net 0.1 168.0 425.3 — 593.4 Intercompany notes receivable — — 2,515.5 (2,515.5 ) — Inventories, net — 388.6 1,084.3 — 1,472.9 Prepaid expenses and other current assets 7.0 9.8 49.5 — 66.3 Total current assets 12.3 581.3 4,305.4 (2,515.5 ) 2,383.5 Property, plant and equipment, net 2.5 1,549.5 1,394.7 — 2,946.7 Cost in excess of net assets acquired — 126.6 654.9 — 781.5 Intercompany notes receivable — — 200.0 (200.0 ) — Investment in subsidiaries 6,228.5 37.7 — (6,266.2 ) — Other assets 22.9 30.9 303.8 — 357.6 Total assets $ 6,266.2 $ 2,326.0 $ 6,858.8 $ (8,981.7 ) $ 6,469.3 Liabilities and stockholders’ equity: Accounts payable $ 3.4 $ 263.7 $ 220.4 $ — $ 487.5 Accrued liabilities 42.8 59.8 211.8 — 314.4 Intercompany notes payable 1,274.2 1,241.3 — (2,515.5 ) — Deferred income taxes 67.8 — — — 67.8 Short-term debt and current portion of long-term debt 0.7 0.1 17.5 — 18.3 Total current liabilities 1,388.9 1,564.9 449.7 (2,515.5 ) 888.0 Long-term debt 1,350.9 150.2 1.6 — 1,502.7 Intercompany notes payable — 200.0 — (200.0 ) — Accrued postretirement benefits — 147.1 250.0 — 397.1 Pension liabilities 662.0 5.7 54.4 — 722.1 Deferred income taxes 143.6 — — — 143.6 Other long-term liabilities 20.1 21.0 61.9 — 103.0 Total liabilities 3,565.5 2,088.9 817.6 (2,715.5 ) 3,756.5 Redeemable noncontrolling interest — — 12.1 — 12.1 Total stockholders’ equity 2,700.7 237.1 6,029.1 (6,266.2 ) 2,700.7 Total liabilities and stockholders’ equity $ 6,266.2 $ 2,326.0 $ 6,858.8 $ (8,981.7 ) $ 6,469.3 Allegheny Technologies Incorporated Financial Information for Subsidiary and Guarantor Parent Statements of Operations and Comprehensive Income For the three months ended June 30, 2015 (In millions) Guarantor Parent Subsidiary Non-guarantor Subsidiaries Eliminations Consolidated Sales $ — $ 436.7 $ 585.8 $ — $ 1,022.5 Cost of sales 10.6 429.0 505.9 — 945.5 Selling and administrative expenses 21.4 9.4 41.6 — 72.4 Income (loss) before interest, other income and income taxes (32.0 ) (1.7 ) 38.3 — 4.6 Interest income (expense), net (28.6 ) (12.5 ) 14.3 — (26.8 ) Other income (loss) including equity in income of unconsolidated subsidiaries 39.0 0.2 0.5 (39.1 ) 0.6 Income (loss) from continuing operations before income tax provision (benefit) (21.6 ) (14.0 ) 53.1 (39.1 ) (21.6 ) Income tax provision (benefit) (7.7 ) (4.6 ) 22.3 (17.7 ) (7.7 ) Income (loss) from continuing operations (13.9 ) (9.4 ) 30.8 (21.4 ) (13.9 ) Income (loss) from discontinued operations, net of tax — — — — — Net income (loss) (13.9 ) (9.4 ) 30.8 (21.4 ) (13.9 ) Less: Net income attributable to noncontrolling interests — — 2.5 — 2.5 Net income (loss) attributable to ATI $ (13.9 ) $ (9.4 ) $ 28.3 $ (21.4 ) $ (16.4 ) Comprehensive income (loss) attributable to ATI $ 10.1 $ (6.4 ) $ 47.4 $ (44.0 ) $ 7.1 Allegheny Technologies Incorporated Financial Information for Subsidiary and Guarantor Parent Statements of Operations and Comprehensive Income For the six months ended June 30, 2015 (In millions) Guarantor Parent Subsidiary Non-guarantor Subsidiaries Eliminations Consolidated Sales $ — $ 945.2 $ 1,202.8 $ — $ 2,148.0 Cost of sales 12.8 933.0 1,015.7 — 1,961.5 Selling and administrative expenses 47.2 21.1 67.2 — 135.5 Income (loss) before interest, other income and income taxes (60.0 ) (8.9 ) 119.9 — 51.0 Interest income (expense), net (56.6 ) (24.7 ) 27.8 — (53.5 ) Other income (loss) including equity in income of unconsolidated subsidiaries 115.6 0.6 1.1 (115.8 ) 1.5 Income (loss) from continuing operations before income tax provision (benefit) (1.0 ) (33.0 ) 148.8 (115.8 ) (1.0 ) Income tax provision (benefit) 0.3 (11.2 ) 56.4 (45.2 ) 0.3 Income (loss) from continuing operations (1.3 ) (21.8 ) 92.4 (70.6 ) (1.3 ) Income (loss) from discontinued operations, net of tax — — — — — Net income (loss) (1.3 ) (21.8 ) 92.4 (70.6 ) (1.3 ) Less: Net income attributable to noncontrolling interests — — 5.1 — 5.1 Net income (loss) attributable to ATI $ (1.3 ) $ (21.8 ) $ 87.3 $ (70.6 ) $ (6.4 ) Comprehensive income (loss) attributable to ATI $ 23.1 $ (15.5 ) $ 85.2 $ (75.1 ) $ 17.7 Condensed Statements of Cash Flows For the six months ended June 30, 2015 (In millions) Guarantor Parent Subsidiary Non-guarantor Subsidiaries Eliminations Consolidated Cash flows provided by (used in) operating activities $ (38.0 ) $ (98.1 ) $ 227.6 $ — $ 91.5 Investing Activities: Purchases of property, plant and equipment — (26.0 ) (37.3 ) — (63.3 ) Purchases of businesses, net of cash acquired — — (0.5 ) — (0.5 ) Net receipts/(payments) on intercompany activity — — (206.4 ) 206.4 — Asset disposals and other — 0.2 (0.2 ) — — Cash flows provided by (used in) investing activities — (25.8 ) (244.4 ) 206.4 (63.8 ) Financing Activities: Net receipts/(payments) on intercompany activity 81.3 125.1 — (206.4 ) — Dividends paid to stockholders (38.6 ) — — — (38.6 ) Other (1.7 ) (0.1 ) (5.9 ) — (7.7 ) Cash flows provided by (used in) financing activities 41.0 125.0 (5.9 ) (206.4 ) (46.3 ) Increase (decrease) in cash and cash equivalents $ 3.0 $ 1.1 $ (22.7 ) $ — $ (18.6 ) Allegheny Technologies Incorporated Financial Information for Subsidiary and Guarantor Parent Balance Sheets December 31, 2014 Guarantor Non-guarantor (In millions) Parent Subsidiary Subsidiaries Eliminations Consolidated Assets: Cash and cash equivalents $ 2.2 $ 13.8 $ 253.5 $ — $ 269.5 Accounts receivable, net 0.1 209.1 394.4 — 603.6 Intercompany notes receivable — — 2,390.8 (2,390.8 ) — Inventories, net — 387.7 1,085.1 — 1,472.8 Prepaid expenses and other current assets 63.7 13.2 59.3 — 136.2 Total current assets 66.0 623.8 4,183.1 (2,390.8 ) 2,482.1 Property, plant and equipment, net 2.2 1,545.1 1,414.5 — 2,961.8 Cost in excess of net assets acquired — 126.6 653.8 — 780.4 Intercompany notes receivable — — 200.0 (200.0 ) — Investment in subsidiaries 6,149.4 37.7 — (6,187.1 ) — Other assets 23.7 28.0 306.6 — 358.3 Total assets $ 6,241.3 $ 2,361.2 $ 6,758.0 $ (8,777.9 ) $ 6,582.6 Liabilities and stockholders’ equity: Accounts payable $ 4.5 $ 302.0 $ 250.2 $ — $ 556.7 Accrued liabilities 47.5 72.0 203.7 — 323.2 Intercompany notes payable 1,232.6 1,158.2 — (2,390.8 ) — Deferred income taxes 62.2 — — — 62.2 Short-term debt and current portion of long-term debt 0.5 0.1 17.2 — 17.8 Total current liabilities 1,347.3 1,532.3 471.1 (2,390.8 ) 959.9 Long-term debt 1,350.6 150.3 8.2 — 1,509.1 Intercompany notes payable — 200.0 — (200.0 ) — Accrued postretirement benefits — 153.0 262.8 — 415.8 Pension liabilities 675.5 6.0 57.8 — 739.3 Deferred income taxes 80.9 — — — 80.9 Other long-term liabilities 77.7 22.5 56.0 — 156.2 Total liabilities 3,532.0 2,064.1 855.9 (2,590.8 ) 3,861.2 Redeemable noncontrolling interest — — 12.1 — 12.1 Total stockholders’ equity 2,709.3 297.1 5,890.0 (6,187.1 ) 2,709.3 Total liabilities and stockholders’ equity $ 6,241.3 $ 2,361.2 $ 6,758.0 $ (8,777.9 ) $ 6,582.6 Allegheny Technologies Incorporated Financial Information for Subsidiary and Guarantor Parent Statements of Operations and Comprehensive Income For the three months ended June 30, 2014 (In millions) Guarantor Parent Subsidiary Non-guarantor Subsidiaries Eliminations Consolidated Sales $ — $ 513.8 $ 605.2 $ — $ 1,119.0 Cost of sales 14.8 525.2 489.5 — 1,029.5 Selling and administrative expenses 20.9 10.3 34.5 — 65.7 Income (loss) before interest, other income and income taxes (35.7 ) (21.7 ) 81.2 — 23.8 Interest income (expense), net (28.6 ) (11.2 ) 11.3 — (28.5 ) Other income (loss) including equity in income of unconsolidated subsidiaries 60.9 0.2 0.8 (60.6 ) 1.3 Income (loss) from continuing operations before income tax provision (benefit) (3.4 ) (32.7 ) 93.3 (60.6 ) (3.4 ) Income tax provision (benefit) (2.9 ) (11.8 ) 38.6 (26.8 ) (2.9 ) Income (loss) from continuing operations (0.5 ) (20.9 ) 54.7 (33.8 ) (0.5 ) Income (loss) from discontinued operations, net of tax (0.2 ) — (0.2 ) 0.2 (0.2 ) Net income (loss) (0.7 ) (20.9 ) 54.5 (33.6 ) (0.7 ) Less: Net income attributable to noncontrolling interests — — 3.3 — 3.3 Net income (loss) attributable to ATI $ (0.7 ) $ (20.9 ) $ 51.2 $ (33.6 ) $ (4.0 ) Comprehensive income (loss) attributable to ATI $ 28.2 $ (18.8 ) $ 60.2 $ (43.6 ) $ 26.0 Allegheny Technologies Incorporated Financial Information for Subsidiary and Guarantor Parent Statements of Operations and Comprehensive Income For the six months ended June 30, 2014 (In millions) Guarantor Parent Subsidiary Non-guarantor Subsidiaries Eliminations Consolidated Sales $ — $ 941.7 $ 1,164.6 $ — $ 2,106.3 Cost of sales 27.1 964.8 954.7 — 1,946.6 Selling and administrative expenses 48.0 20.4 65.0 — 133.4 Income (loss) before interest, other income and income taxes (75.1 ) (43.5 ) 144.9 — 26.3 Interest income (expense), net (57.1 ) (21.8 ) 21.3 — (57.6 ) Other income (loss) including equity in income of unconsolidated subsidiaries 102.8 0.5 1.4 (102.8 ) 1.9 Income (loss) from continuing operations before income tax provision (benefit) (29.4 ) (64.8 ) 167.6 (102.8 ) — (29.4 ) Income tax provision (benefit) (12.9 ) (23.1 ) 65.0 (41.9 ) (12.9 ) Income (loss) from continuing operations (16.5 ) (41.7 ) 102.6 (60.9 ) — (16.5 ) Income (loss) from discontinued operations, net of tax (2.1 ) — (2.1 ) 2.1 (2.1 ) Net income (loss) (18.6 ) (41.7 ) 100.5 (58.8 ) — (18.6 ) Less: Net income attributable to noncontrolling interests — — 5.4 — 5.4 Net income (loss) attributable to ATI $ (18.6 ) $ (41.7 ) $ 95.1 $ (58.8 ) — $ (24.0 ) Comprehensive income (loss) attributable to ATI $ 27.4 $ (37.6 ) $ 102.7 $ (67.5 ) $ 25.0 Condensed Statements of Cash Flows For the six months ended June 30, 2014 (In millions) Guarantor Parent Subsidiary Non-guarantor Subsidiaries Eliminations Consolidated Cash flows provided by (used in) operating activities $ (45.6 ) $ (196.9 ) $ 205.0 $ — $ (37.5 ) Investing Activities: Purchases of property, plant and equipment — (72.4 ) (25.5 ) — (97.9 ) Purchases of businesses, net of cash acquired — — (92.5 ) — (92.5 ) Net receipts/(payments) on intercompany activity — — (766.5 ) 766.5 — Asset disposals and other — 1.5 0.6 — 2.1 Cash flows provided by (used in) investing activities — (70.9 ) (883.9 ) 766.5 (188.3 ) Financing Activities: Payments on long-term debt and capital leases (397.7 ) — (5.7 ) — (403.4 ) Net receipts/(payments) on intercompany activity 486.8 279.7 — (766.5 ) — Dividends paid to stockholders (38.6 ) — — — (38.6 ) Other (3.9 ) — — — (3.9 ) Cash flows provided by (used in) financing activities 46.6 279.7 (5.7 ) (766.5 ) (445.9 ) Increase (decrease) in cash and cash equivalents $ 1.0 $ 11.9 $ (684.6 ) $ — $ (671.7 )

Accumulated Other Comprehensive

Accumulated Other Comprehensive Income (Loss)	6 Months Ended
	Jun. 30, 2015
Equity [Abstract]
Accumulated Other Comprehensive Income (Loss)	Accumulated Other Comprehensive Income (Loss) The changes in accumulated other comprehensive income (loss) (AOCI) by component, net of tax, for the three month period ended June 30, 2015 were as follows (in millions): Post- retirement benefit plans Currency translation adjustment Unrealized holding gains on securities Derivatives Total Attributable to ATI: Balance, March 31, 2015 $ (919.0 ) $ (37.8 ) $ — $ 26.0 $ (930.8 ) OCI before reclassifications — 18.8 (0.1 ) (6.4 ) 12.3 Amounts reclassified from AOCI (a) 12.5 (b) — (b) — (c) (1.3 ) 11.2 Net current-period OCI 12.5 18.8 (0.1 ) (7.7 ) 23.5 Balance, June 30, 2015 $ (906.5 ) $ (19.0 ) $ (0.1 ) $ 18.3 $ (907.3 ) Attributable to noncontrolling interests: Balance, March 31, 2015 $ — $ $ 24.8 $ — $ — $ 24.8 OCI before reclassifications — 0.5 — — 0.5 Amounts reclassified from AOCI — (b) — — — — Net current-period OCI — 0.5 — — 0.5 Balance, June 30, 2015 $ — $ 25.3 $ — $ — $ 25.3 The changes in accumulated other comprehensive income (loss) (AOCI) by component, net of tax, for the six month period ended June 30, 2015 were as follows (in millions): Post- retirement benefit plans Currency translation adjustment Unrealized holding gains on securities Derivatives Total Attributable to ATI: Balance, December 31, 2014 $ (931.5 ) $ (16.2 ) $ — $ 16.3 $ (931.4 ) OCI before reclassifications — (2.8 ) (0.1 ) 5.0 2.1 Amounts reclassified from AOCI (a) 25.0 (b) — (b) — (c) (3.0 ) 22.0 Net current-period OCI 25.0 (2.8 ) (0.1 ) 2.0 24.1 Balance, June 30, 2015 $ (906.5 ) $ (19.0 ) $ (0.1 ) $ 18.3 $ (907.3 ) Attributable to noncontrolling interests: Balance, December 31, 2014 $ — $ $ 25.0 $ — $ — $ 25.0 OCI before reclassifications — 0.3 — — 0.3 Amounts reclassified from AOCI — (b) — — — — Net current-period OCI — 0.3 — — 0.3 Balance, June 30, 2015 $ — $ 25.3 $ — $ — $ 25.3 (a) Amounts were included in net periodic benefit cost for pension and other postretirement benefit plans (see Note 7). (b) No amounts were reclassified to earnings. (c) Amounts are included in cost of goods sold in the period or periods the hedged item affects earnings (see Note 5). The changes in accumulated other comprehensive income (loss) (AOCI) by component, net of tax, for the three month period ended June 30, 2014 were as follows (in millions): Post- retirement benefit plans Currency translation adjustment Unrealized holding gains on securities Derivatives Total Attributable to ATI: Balance, March 31, 2014 $ (705.5 ) $ 13.8 $ — $ (2.6 ) $ (694.3 ) OCI before reclassifications — 8.9 0.1 7.9 16.9 Amounts reclassified from AOCI (a) 13.5 (b) — (b) — (c) (0.3 ) 13.2 Net current-period OCI 13.5 8.9 0.1 7.6 30.1 Balance, June 30, 2014 $ (692.0 ) $ 22.7 $ 0.1 $ 5.0 $ (664.2 ) Attributable to noncontrolling interests: Balance, March 31, 2014 $ — $ 25.3 $ — $ — $ 25.3 OCI before reclassifications — (1.2 ) — — (1.2 ) Amounts reclassified from AOCI — (b) — — — — Net current-period OCI — (1.2 ) — — $ (1.2 ) Balance, June 30, 2014 $ — $ 24.1 $ — $ — $ 24.1 The changes in accumulated other comprehensive income (loss) (AOCI) by component, net of tax, for the six month period ended June 30, 2014 were as follows (in millions): Post- retirement benefit plans Currency translation adjustment Unrealized holding gains on securities Derivatives Total Attributable to ATI: Balance, December 31, 2013 $ (718.9 ) $ 15.3 $ — $ (9.6 ) $ (713.2 ) OCI before reclassifications — 7.4 0.1 13.6 21.1 Amounts reclassified from AOCI (a) 26.9 (b) — (b) — (c) 1.0 27.9 Net current-period OCI 26.9 7.4 0.1 14.6 49.0 Balance, June 30, 2014 $ (692.0 ) $ 22.7 $ 0.1 $ 5.0 $ (664.2 ) Attributable to noncontrolling interests: Balance, December 31, 2013 $ — $ 27.1 $ — $ — $ 27.1 OCI before reclassifications — (3.0 ) — — (3.0 ) Amounts reclassified from AOCI — (b) — — — — Net current-period OCI — (3.0 ) — — $ (3.0 ) Balance, June 30, 2014 $ — $ 24.1 $ — $ — $ 24.1 (a) Amounts were included in net periodic benefit cost for pension and other postretirement benefit plans (see Note 7). (b) No amounts were reclassified to earnings. (c) Amounts are included in cost of goods sold in the period or periods the hedged item affects earnings (see Note 5). Reclassifications out of AOCI for the three and six month periods ended June 30, 2015 and 2014 were as follows: Amount reclassified from AOCI Details about AOCI Components (In millions) Three months ended June 30, 2015 Three months ended June 30, 2014 Six months ended June 30, 2015 Six months ended June 30, 2014 Affected line item in the statements of operations Postretirement benefit plans Prior service (cost) credit $ (1.5 ) $ 0.1 (a) $ (3.0 ) $ 0.3 (a) Actuarial losses (18.7 ) (22.0 ) (a) (37.4 ) (44.0 ) (a) (20.2 ) (21.9 ) (c) (40.4 ) (43.7 ) (c) Total before tax (7.7 ) (8.4 ) (15.4 ) (16.8 ) Tax provision (benefit) $ (12.5 ) $ (13.5 ) $ (25.0 ) $ (26.9 ) Net of tax Derivatives Nickel and other raw material contracts $ (3.9 ) $ 1.5 (b) $ (7.5 ) $ (1.3 ) (b) Natural gas contracts (3.9 ) 1.6 (b) (7.8 ) 3.9 (b) Electricity contracts — 0.1 (b) (0.2 ) 0.8 (b) Foreign exchange contracts 9.9 (2.7 ) (b) 20.3 (5.0 ) (b) 2.1 0.5 (c) 4.8 (1.6 ) (c) Total before tax 0.8 0.2 1.8 (0.6 ) Tax provision (benefit) $ 1.3 $ 0.3 $ 3.0 $ (1.0 ) Net of tax (a) Amounts are included in the computation of pension and other postretirement benefit expense, which is reported in both cost of goods sold and selling and administrative expenses. For additional information, see Note 7. (b) Amounts are included in cost of goods sold in the period or periods the hedged item affects earnings. For additional information, see Note 5. (c) For pretax items, positive amounts are income and negative amounts are expense in terms of the impact to net income. Tax effects are presented in conformity with ATI’s presentation in the consolidated statements of operations.

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Jun. 30, 2015
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies The Company is subject to various domestic and international environmental laws and regulations that govern the discharge of pollutants and disposal of wastes, and which may require that it investigate and remediate the effects of the release or disposal of materials at sites associated with past and present operations. The Company could incur substantial cleanup costs, fines, and civil or criminal sanctions, third party property damage or personal injury claims as a result of violations or liabilities under these laws or noncompliance with environmental permits required at its facilities. The Company is currently involved in the investigation and remediation of a number of its current and former sites, as well as third party sites. Environmental liabilities are recorded when the Company’s liability is probable and the costs are reasonably estimable. In many cases, however, the Company is not able to determine whether it is liable or, if liability is probable, to reasonably estimate the loss or range of loss. Estimates of the Company’s liability remain subject to additional uncertainties, including the nature and extent of site contamination, available remediation alternatives, the extent of corrective actions that may be required, and the number, participation, and financial condition of other potentially responsible parties (“PRPs”). The Company adjusts its accruals to reflect new information as appropriate. Future adjustments could have a material adverse effect on the Company’s consolidated results of operations in a given period, but the Company cannot reliably predict the amounts of such future adjustments. At June 30, 2015 , the Company’s reserves for environmental remediation obligations totaled approximately $17 million , of which $10 million was included in other current liabilities. The reserve includes estimated probable future costs of $5 million for federal Superfund and comparable state-managed sites; $10 million for formerly owned or operated sites for which the Company has remediation or indemnification obligations; $1 million for owned or controlled sites at which Company operations have been discontinued; and $1 million for sites utilized by the Company in its ongoing operations. The Company continues to evaluate whether it may be able to recover a portion of past and future costs for environmental liabilities from third parties and to pursue such recoveries where appropriate. Based on currently available information, it is reasonably possible that costs for recorded matters may exceed the Company’s recorded reserves by as much as $18 million . However, future investigation or remediation activities may result in the discovery of additional hazardous materials, potentially higher levels of contamination than discovered during prior investigation, and may impact costs of the success or lack thereof in remedial solutions. Therefore, future developments, administrative actions or liabilities relating to environmental matters could have a material adverse effect on the Company’s consolidated financial condition or results of operations. The timing of expenditures depends on a number of factors that vary by site. The Company expects that it will expend present accruals over many years and that remediation of all sites with which it has been identified will be completed within thirty years. See Note 20. Commitments and Contingencies to the Company’s consolidated financial statements in the Company’s Annual Report on Form 10-K for its fiscal year ended December 31, 2014 for a discussion of legal proceedings affecting the Company. A number of other lawsuits, claims and proceedings have been or may be asserted against the Company relating to the conduct of its currently and formerly owned businesses, including those pertaining to product liability, patent infringement, commercial, government contracting, construction, employment, employee and retiree benefits, taxes, environmental, health and safety and occupational disease, and stockholder and corporate governance matters. While the outcome of litigation cannot be predicted with certainty, and some of these lawsuits, claims or proceedings may be determined adversely to the Company, management does not believe that the disposition of any such pending matters is likely to have a material adverse effect on the Company’s financial condition or liquidity, although the resolution in any reporting period of one or more of these matters could have a material adverse effect on the Company’s consolidated results of operations for that period.

Accounting Policies (Policies)

Accounting Policies (Policies)	6 Months Ended
	Jun. 30, 2015
Accounting Policies [Abstract]
Basis Of Accounting	The interim consolidated financial statements include the accounts of Allegheny Technologies Incorporated and its subsidiaries. Unless the context requires otherwise, “Allegheny Technologies”, “ATI” and “the Company” refer to Allegheny Technologies Incorporated and its subsidiaries. These unaudited consolidated financial statements have been prepared in accordance with U.S. generally accepted accounting principles for interim financial information and with the instructions for Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all of the information and note disclosures required by U.S. generally accepted accounting principles for complete financial statements. In management’s opinion, all adjustments (which include only normal recurring adjustments) considered necessary for a fair presentation have been included. These unaudited consolidated financial statements should be read in conjunction with the consolidated financial statements and notes thereto included in the Company’s 2014 Annual Report on Form 10-K. The results of operations for these interim periods are not necessarily indicative of the operating results for any future period. The December 31, 2014 financial information has been derived from the Company’s audited consolidated financial statements. In 2013, the Company sold or announced closures of certain businesses that are reported as discontinued operations. Remaining closure activities were completed in 2014. Financial results for discontinued operations for the three and six months ended June 30, 2014 were sales of $6.4 million and $11.6 million , respectively, and pretax losses of $0.2 million and $3.0 million , respectively.
New Accounting Pronouncements	New Accounting Pronouncements Adopted In January 2015, the Company adopted changes issued by the Financial Accounting Standards Board (FASB) to the criteria for reporting discontinued operations. Under the new criteria, a disposal of a component of an entity is required to be reported as discontinued operations only if the disposal represents a strategic shift that has, or will have, a major effect on an entity’s operations and financial results. The criteria that there be no significant continuing involvement in the operations of the component after the disposal transaction has been removed under the new guidance. The new guidance also requires the presentation of the assets and liabilities of a disposal group that includes a discontinued operation for each comparative period and requires additional disclosures about discontinued operations, including the major line items constituting the pretax profit or loss of the discontinued operation, certain cash flow information for the discontinued operation, expanded disclosures about an entity’s significant continuing involvement in a discontinued operation, and disclosures about a disposal of an individually significant component of an entity that does not qualify for discontinued operations presentation. The provisions of the new guidance are effective for all disposals that occur for the Company beginning in fiscal year 2015. The adoption of these changes had no impact on the consolidated financial statements. Pending Accounting Pronouncements In July 2015, the FASB issued changes to simplify the measurement of inventory valuation at the lower of cost or net realizable value. Net realizable value is the estimated selling price in the ordinary course of business, less reasonably predictable costs of completion, disposal and transportation. The new inventory measurement requirements are effective for the Company’s 2017 fiscal year, and will replace the current inventory valuation guidance that requires the use of a lower of cost or market framework. This change in the measurement of inventory does not apply to inventory valued on LIFO, which is the accounting basis used for most of the Company’s inventory. The adoption of these changes is not expected to have a material impact to the Company’s consolidated financial statements. In April 2015, the FASB issued new guidance on presentation of debt issuance costs. This guidance requires that debt issuance costs related to a recognized debt liability be presented in the balance sheet as a direct deduction from the carrying amount of that debt liability. The recognition and measurement guidance for debt issuance costs are not affected by the amendments in this guidance. This update will be effective for the Company beginning in fiscal year 2016, with early adoption permitted, and is applied on a retrospective basis. The Company plans to adopt this new guidance in the fourth quarter of fiscal year 2015. As of June 30, 2015 and December 31, 2014 , the Company had $10.2 million and $10.9 million , respectively, of debt issuance costs reported as assets on the consolidated balance sheet that will be reclassified to a reduction of the carrying amount of the debt liability upon the Company’s adoption of this new guidance. In May 2014, the FASB issued changes to revenue recognition with customers. This update provides a five-step analysis of transactions to determine when and how revenue is recognized. An entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. In July 2015, the FASB approved a one-year deferral of the effective date of this new guidance resulting in it now being effective for the Company beginning in fiscal year 2018. This update may be applied retrospectively to each prior reporting period presented or retrospectively with the cumulative effect of initially applying this update recognized at the date of initial application. The Company is currently evaluating the impact of the new guidance on its consolidated financial statements.
Inventory	Inventories are stated at the lower of cost (last-in, first-out (“LIFO”), first-in, first-out (“FIFO”), and average cost methods) or market, less progress payments. Most of the Company’s inventory is valued utilizing the LIFO costing methodology. Inventory of the Company’s non-U.S. operations is valued using average cost or FIFO methods.
Derivatives	For derivative financial instruments that are designated as cash flow hedges, the effective portion of the gain or loss on the derivative is reported as a component of other comprehensive income (OCI) and reclassified into earnings in the same period or periods during which the hedged item affects earnings. Gains and losses on the derivative representing either hedge ineffectiveness or hedge components excluded from the assessment of effectiveness are recognized in current period results. For derivative financial instruments that are designated as fair value hedges, changes in the fair value of these derivatives are recognized in current period results. The Company did not use net investment hedges for the periods presented. The effects of derivative instruments in the tables below are presented net of related income taxes. As part of its risk management strategy, the Company, from time-to-time, utilizes derivative financial instruments to manage its exposure to changes in raw material prices, energy costs, foreign currencies, and interest rates. In accordance with applicable accounting standards, the Company accounts for most of these contracts as hedges. In general, hedge effectiveness is determined by examining the relationship between offsetting changes in fair value or cash flows attributable to the item being hedged, and the financial instrument being used for the hedge. Effectiveness is measured utilizing regression analysis and other techniques to determine whether the change in the fair market value or cash flows of the derivative exceeds the change in fair value or cash flow of the hedged item. Calculated ineffectiveness, if any, is immediately recognized in the consolidated statements of operations. The Company sometimes uses futures and swap contracts to manage exposure to changes in prices for forecasted purchases of raw materials, such as nickel, and natural gas. Under these contracts, which are generally accounted for as cash flow hedges, the price of the item being hedged is fixed at the time that the contract is entered into and the Company is obligated to make or receive a payment equal to the net change between this fixed price and the market price at the date the contract matures. The majority of ATI’s products are sold utilizing raw material surcharges and index mechanisms. However, as of June 30, 2015 , the Company had entered into financial hedging arrangements, primarily at the request of its customers, related to firm orders, for an aggregate notional amount of approximately 20% of its estimated annual nickel requirements. These nickel hedges extend to 2020. At June 30, 2015 , the outstanding financial derivatives used to hedge the Company’s exposure to energy cost volatility included natural gas cost hedges for approximately 80% of its annual forecasted domestic requirements for 2015, approximately 80% for 2016, and approximately 50% for 2017. While the majority of the Company’s direct export sales are transacted in U.S. dollars, foreign currency exchange contracts are used, from time-to-time, to limit transactional exposure to changes in currency exchange rates for those transactions denominated in a non-U.S. currency. The Company sometimes purchases foreign currency forward contracts that permit it to sell specified amounts of foreign currencies expected to be received from its export sales for pre-established U.S. dollar amounts at specified dates. The forward contracts are denominated in the same foreign currencies in which export sales are denominated. These contracts are designated as hedges of the variability in cash flows of a portion of the forecasted future export sales transactions which otherwise would expose the Company to foreign currency risk, primarily euros. At June 30, 2015 , the Company held euro forward sales contracts designated as hedges with a notional value of approximately 334 million euro with maturity dates through June 2018, including approximately 103 million euro with maturities in 2015. In addition, the Company may also designate cash balances held in foreign currencies as hedges of forecasted foreign currency transactions. During the first quarter of 2015, the Company net settled 126.5 million euro notional value of foreign currency forward contracts designated as cash flow hedges with 2015 maturity dates, receiving cash proceeds of $26.1 million which is reported in cash provided by operating activities on the consolidated cash flow statement. Deferred gains on these settled cash flow hedges currently recognized in accumulated other comprehensive income will be reclassified to earnings when the underlying transactions occur. The Company subsequently entered into 115 million euro notional value of foreign currency forward contracts designated as fair value hedges in the first quarter of 2015, all with 2015 maturity dates and of which 69 million euro notional was outstanding as of June 30, 2015 . The Company recorded a $1.9 million and $7.4 million benefit in costs of sales on the consolidated statement of operations in the second quarter and six months ended June 30, 2015 , respectively, for mark-to-market changes on these fair value hedges. The Company may enter into derivative interest rate contracts to maintain a reasonable balance between fixed- and floating-rate debt. There were no unsettled derivative financial instruments related to debt balances for the periods presented. There are no credit risk-related contingent features in the Company’s derivative contracts, and the contracts contained no provisions under which the Company has posted, or would be required to post, collateral. The counterparties to the Company’s derivative contracts are substantial and creditworthy commercial banks that are recognized market makers. The Company controls its credit exposure by diversifying across multiple counterparties and by monitoring credit ratings and credit default swap spreads of its counterparties. The Company also enters into master netting agreements with counterparties when possible. The fair values of the Company’s derivative financial instruments are presented below, representing the gross amounts recognized which are not offset by counterparty or by type of item hedged. All fair values for these derivatives were measured using Level 2 information as defined by the accounting standard hierarchy, which includes quoted prices for similar assets or liabilities in active markets, quoted prices for identical or similar assets or liabilities in markets that are not active, and inputs derived principally from or corroborated by observable market data.
Pension And Other Postretirement Plans	The Company has defined benefit pension plans or defined contribution plans covering substantially all employees. Benefits under the defined benefit pension plans are generally based on years of service and/or final average pay. The Company funds the U.S. pension plans in accordance with the Employee Retirement Income Security Act of 1974, as amended, and the Internal Revenue Code. The Company also sponsors several postretirement plans covering certain salaried and hourly employees. The plans provide health care and life insurance benefits for eligible retirees. In most plans, Company contributions towards premiums are capped based on the cost as of a certain date, thereby creating a defined contribution. For the non-collectively bargained plans, the Company maintains the right to amend or terminate the plans at its discretion.
Commitments And Contingencies	Environmental liabilities are recorded when the Company’s liability is probable and the costs are reasonably estimable. In many cases, however, the Company is not able to determine whether it is liable or, if liability is probable, to reasonably estimate the loss or range of loss. Estimates of the Company’s liability remain subject to additional uncertainties, including the nature and extent of site contamination, available remediation alternatives, the extent of corrective actions that may be required, and the number, participation, and financial condition of other potentially responsible parties (“PRPs”). The Company adjusts its accruals to reflect new information as appropriate. Future adjustments could have a material adverse effect on the Company’s consolidated results of operations in a given period, but the Company cannot reliably predict the amounts of such future adjustments.

Inventories (Tables)

Inventories (Tables)	6 Months Ended
	Jun. 30, 2015
Inventory Disclosure [Abstract]
Inventories	Inventories at June 30, 2015 and December 31, 2014 were as follows (in millions): June 30, December 31, Raw materials and supplies $ 239.2 $ 249.3 Work-in-process 1,166.3 1,184.1 Finished goods 191.8 172.2 Total inventories at current cost 1,597.3 1,605.6 Adjustment from current cost to LIFO cost basis 9.3 4.8 Inventory valuation reserves (71.0 ) (68.8 ) Progress payments (62.7 ) (68.8 ) Total inventories, net $ 1,472.9 $ 1,472.8

Property, Plant and Equipment (

Property, Plant and Equipment (Tables)	6 Months Ended
	Jun. 30, 2015
Property, Plant and Equipment [Abstract]
Property Plant And Equipment	Property, plant and equipment at June 30, 2015 and December 31, 2014 was as follows (in millions): June 30, December 31, Land $ 30.4 $ 30.2 Buildings 1,051.2 1,048.9 Equipment and leasehold improvements 3,762.4 3,702.5 4,844.0 4,781.6 Accumulated depreciation and amortization (1,897.3 ) (1,819.8 ) Total property, plant and equipment, net $ 2,946.7 $ 2,961.8

Debt (Tables)

Debt (Tables)	6 Months Ended
	Jun. 30, 2015
Debt Disclosure [Abstract]
Schedule of Debt Instruments	Debt at June 30, 2015 and December 31, 2014 was as follows (in millions): June 30, December 31, Allegheny Technologies 5.875% Notes due 2023 (a) $ 500.0 $ 500.0 Allegheny Technologies 5.95% Notes due 2021 500.0 500.0 Allegheny Technologies 9.375% Notes due 2019 350.0 350.0 Allegheny Ludlum 6.95% debentures due 2025 150.0 150.0 ATI Ladish Series B 6.14% Notes due 2016 (b) 5.9 11.9 ATI Ladish Series C 6.41% Notes due 2015 (c) 10.1 10.3 Domestic Bank Group $400 million credit facility — — Foreign credit facilities — — Industrial revenue bonds, due through 2020, and other 5.0 4.7 Total short-term and long-term debt 1,521.0 1,526.9 Short-term debt and current portion of long-term debt 18.3 17.8 Total long-term debt $ 1,502.7 $ 1,509.1 (a) Bearing interest at 6.375% effective February 15, 2015. (b) Includes fair value adjustments of $0.2 million at June 30, 2015 and $0.4 million at December 31, 2014 . (c) Includes fair value adjustments of $0.1 million at June 30, 2015 and $0.3 million at December 31, 2014 .

Derivative Financial Instrume27

Derivative Financial Instruments and Hedging (Tables)	6 Months Ended
	Jun. 30, 2015
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule Of Derivative Instruments In Statement Of Financial Position Fair Value	The fair values of the Company’s derivative financial instruments are presented below, representing the gross amounts recognized which are not offset by counterparty or by type of item hedged. All fair values for these derivatives were measured using Level 2 information as defined by the accounting standard hierarchy, which includes quoted prices for similar assets or liabilities in active markets, quoted prices for identical or similar assets or liabilities in markets that are not active, and inputs derived principally from or corroborated by observable market data. (In millions) Asset derivatives Balance sheet location June 30, December 31, Derivatives designated as hedging instruments: Foreign exchange contracts Prepaid expenses and other current assets $ 25.2 $ 23.6 Nickel and other raw material contracts Prepaid expenses and other current assets — 1.1 Foreign exchange contracts Other assets 32.9 28.3 Nickel and other raw material contracts Other assets — 0.5 Total derivatives designated as hedging instruments 58.1 53.5 Derivatives not designated as hedging instruments: Foreign exchange contracts Prepaid expenses and other current assets — 6.4 Total derivatives not designated as hedging instruments — 6.4 Total asset derivatives $ 58.1 $ 59.9 Liability derivatives Balance sheet location Derivatives designated as hedging instruments: Natural gas contracts Accrued liabilities $ 10.9 $ 10.2 Nickel and other raw material contracts Accrued liabilities 10.7 5.8 Electricity contracts Accrued liabilities — 0.1 Natural gas contracts Other long-term liabilities 8.9 7.9 Nickel and other raw material contracts Other long-term liabilities 10.5 3.0 Total derivatives designated as hedging instruments 41.0 27.0 Derivatives not designated as hedging instruments: Foreign exchange contracts Accrued liabilities 1.2 — Total derivatives not designated as hedging instruments 1.2 — Total liability derivatives $ 42.2 $ 27.0
Schedule Of Derivative Instruments Gain Loss In Statement Of Financial Performance	Activity with regard to derivatives designated as cash flow hedges for the three and six month periods ended June 30, 2015 and 2014 was as follows (in millions): Amount of Gain (Loss) Recognized in OCI on Derivatives (Effective Portion) Amount of Gain (Loss) Reclassified from Accumulated OCI into Income (Effective Portion) (a) Amount of Gain (Loss) Recognized in Income on Derivatives (Ineffective Portion and Amount Excluded from Effectiveness Testing) (b) Derivatives in Cash Flow Three months ended June 30, Three months ended June 30, Three months ended June 30, Hedging Relationships 2015 2014 2015 2014 2015 2014 Nickel and other raw material contracts $ (3.5 ) $ 7.1 $ (2.4 ) $ 0.9 $ — $ — Natural gas contracts 0.2 (1.0 ) (2.4 ) 1.0 — — Electricity contracts — (0.1 ) — 0.1 — — Foreign exchange contracts (3.1 ) 1.9 6.1 (1.7 ) — — Total $ (6.4 ) $ 7.9 $ 1.3 $ 0.3 $ — $ — Amount of Gain (Loss) Recognized in OCI on Derivatives (Effective Portion) Amount of Gain (Loss) Reclassified from Accumulated OCI into Income (Effective Portion) (a) Amount of Gain (Loss) Recognized in Income on Derivatives (Ineffective Portion and Amount Excluded from Effectiveness Testing) (b) Derivatives in Cash Flow Six months ended June 30, Six months ended June 30, Six months ended June 30, Hedging Relationships 2015 2014 2015 2014 2015 2014 Nickel and other raw material contracts $ (13.1 ) $ 10.1 $ (4.6 ) $ (0.8 ) $ — $ — Natural gas contracts (5.8 ) 1.3 (4.8 ) 2.4 — — Electricity contracts — 0.8 (0.1 ) 0.5 — — Foreign exchange contracts 23.9 1.4 12.5 (3.1 ) — — Total $ 5.0 $ 13.6 $ 3.0 $ (1.0 ) $ — $ — (a) The gains (losses) reclassified from accumulated OCI into income related to the effective portion of the derivatives are presented in cost of sales in the same period or periods in which the hedged item affects earnings. (b) The gains (losses) recognized in income on derivatives related to the ineffective portion and the amount excluded from effectiveness testing are presented in selling and administrative expenses.
Schedule Of Derivative Instruments Not Designated as Hedging Instruments	Derivatives that are not designated as hedging instruments were as follows: (In millions) Amount of Gain (Loss) Recognized in Income on Derivatives Derivatives Not Designated Three months ended June 30, Six months ended June 30, as Hedging Instruments 2015 2014 2015 2014 Foreign exchange contracts $ (0.5 ) $ 0.9 $ 3.0 $ 1.1

Fair Value of Financial Instr28

Fair Value of Financial Instruments (Tables)	6 Months Ended
	Jun. 30, 2015
Fair Value Disclosures [Abstract]
Fair Value By Balance Sheet Grouping	The estimated fair value of financial instruments at June 30, 2015 was as follows: Fair Value Measurements at Reporting Date Using (In millions) Total Carrying Amount Total Estimated Fair Value Quoted Prices in Active Markets for Identical Assets(Level 1) Significant Observable Inputs (Level 2) Cash and cash equivalents $ 250.9 $ 250.9 $ 250.9 $ — Derivative financial instruments: Assets 58.1 58.1 — 58.1 Liabilities 42.2 42.2 — 42.2 Debt 1,521.0 1,624.9 1,603.9 21.0 The estimated fair value of financial instruments at December 31, 2014 was as follows: Fair Value Measurements at Reporting Date Using (In millions) Total Carrying Amount Total Estimated Fair Value Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Observable Inputs (Level 2) Cash and cash equivalents $ 269.5 $ 269.5 $ 269.5 $ — Derivative financial instruments: Assets 59.9 59.9 — 59.9 Liabilities 27.0 27.0 — 27.0 Debt 1,526.9 1,616.0 1,589.1 26.9

Pension Plans and Other Postr29

Pension Plans and Other Postretirement Benefits (Tables)	6 Months Ended
	Jun. 30, 2015
Compensation and Retirement Disclosure [Abstract]
Schedule Of Defined Benefit Plans Disclosures	For the three month periods ended June 30, 2015 and 2014 , the components of pension expense and components of other postretirement benefit expense for the Company’s defined benefit plans included the following (in millions): Pension Benefits Other Postretirement Benefits Three months ended June 30, Three months ended June 30, 2015 2014 2015 2014 Service cost - benefits earned during the year $ 5.7 $ 7.3 $ 0.7 $ 0.7 Interest cost on benefits earned in prior years 30.2 33.4 4.5 6.0 Expected return on plan assets (42.0 ) (46.0 ) — (0.1 ) Amortization of prior service cost (credit) 0.3 0.6 1.2 (0.7 ) Amortization of net actuarial loss 15.1 18.5 3.6 3.5 Termination benefits — 0.3 — — Total retirement benefit expense $ 9.3 $ 14.1 $ 10.0 $ 9.4 For the six month periods ended June 30, 2015 and 2014 , the components of pension expense and components of other postretirement benefit expense for the Company’s defined benefit plans included the following (in millions): Pension Benefits Other Postretirement Benefits Six months ended June 30, Six months ended June 30, 2015 2014 2015 2014 Service cost - benefits earned during the year $ 11.4 $ 14.7 $ 1.4 $ 1.4 Interest cost on benefits earned in prior years 60.5 66.8 9.0 12.0 Expected return on plan assets (84.1 ) (92.1 ) — (0.1 ) Amortization of prior service cost (credit) 0.6 1.2 2.4 (1.5 ) Amortization of net actuarial loss 30.2 37.0 7.2 7.0 Termination benefits — 0.3 — — Total retirement benefit expense $ 18.6 $ 27.9 $ 20.0 $ 18.8

Business Segments (Tables)

Business Segments (Tables)	6 Months Ended
	Jun. 30, 2015
Segment Reporting [Abstract]
Schedule Of Segment Reporting Information By Segment	Following is certain financial information with respect to the Company’s business segments for the periods indicated (in millions): Three months ended June 30, Six months ended June 30, 2015 2014 2015 2014 Total sales: High Performance Materials & Components $ 533.5 $ 531.4 $ 1,098.4 $ 1,035.5 Flat Rolled Products 533.5 630.5 1,138.2 1,160.1 1,067.0 1,161.9 2,236.6 2,195.6 Intersegment sales: High Performance Materials & Components 22.4 17.3 44.5 37.0 Flat Rolled Products 22.1 25.6 44.1 52.3 44.5 42.9 88.6 89.3 Sales to external customers: High Performance Materials & Components 511.1 514.1 1,053.9 998.5 Flat Rolled Products 511.4 604.9 1,094.1 1,107.8 $ 1,022.5 $ 1,119.0 $ 2,148.0 $ 2,106.3 Operating profit (loss): High Performance Materials & Components $ 42.6 $ 85.1 $ 118.5 $ 154.2 Flat Rolled Products (3.4 ) (19.9 ) 4.5 (45.5 ) Total operating profit 39.2 65.2 123.0 108.7 Corporate expenses (9.2 ) (11.7 ) (21.0 ) (23.2 ) Interest expense, net (26.8 ) (28.5 ) (53.5 ) (57.6 ) Closed company and other expenses (5.5 ) (4.3 ) (10.9 ) (9.3 ) Retirement benefit expense (19.3 ) (24.1 ) (38.6 ) (48.0 ) Loss from continuing operations before income taxes $ (21.6 ) $ (3.4 ) $ (1.0 ) $ (29.4 )

Per Share Information (Tables)

Per Share Information (Tables)	6 Months Ended
	Jun. 30, 2015
Earnings Per Share [Abstract]
Schedule Of Earnings Per Share Diluted By Common Class	The following table sets forth the computation of basic and diluted income from continuing operations per common share: Three months ended Six months ended (In millions, except per share amounts) June 30, June 30, 2015 2014 2015 2014 Numerator for basic loss from continuing operations per common share – Loss from continuing operations attributable to ATI $ (16.4 ) $ (3.8 ) $ (6.4 ) $ (21.9 ) Redeemable noncontrolling interest (Note 10) — — (0.1 ) — Numerator for diluted loss from continuing operations per common share – Loss from continuing operations available to ATI after assumed conversions $ (16.4 ) $ (3.8 ) $ (6.5 ) $ (21.9 ) Denominator for basic net loss per common share-weighted average shares 107.3 107.1 107.2 107.0 Effect of dilutive securities: Share-based compensation — — — — 4.25% Convertible Notes due 2014 — — — — Denominator for diluted net loss per common share – adjusted weighted average shares assuming conversions 107.3 107.1 107.2 107.0 Basic loss from continuing operations attributable to ATI per common share $ (0.15 ) $ (0.03 ) $ (0.06 ) $ (0.20 ) Diluted loss from continuing operations attributable to ATI per common share $ (0.15 ) $ (0.03 ) $ (0.06 ) $ (0.20 )

Financial Information for Sub32

Financial Information for Subsidiary and Guarantor Parent (Tables)	6 Months Ended
	Jun. 30, 2015
Condensed Financial Information of Parent Company Only Disclosure [Abstract]
Balance Sheets	Balance Sheets June 30, 2015 (In millions) Guarantor Parent Subsidiary Non-guarantor Subsidiaries Eliminations Consolidated Assets: Cash and cash equivalents $ 5.2 $ 14.9 $ 230.8 $ — $ 250.9 Accounts receivable, net 0.1 168.0 425.3 — 593.4 Intercompany notes receivable — — 2,515.5 (2,515.5 ) — Inventories, net — 388.6 1,084.3 — 1,472.9 Prepaid expenses and other current assets 7.0 9.8 49.5 — 66.3 Total current assets 12.3 581.3 4,305.4 (2,515.5 ) 2,383.5 Property, plant and equipment, net 2.5 1,549.5 1,394.7 — 2,946.7 Cost in excess of net assets acquired — 126.6 654.9 — 781.5 Intercompany notes receivable — — 200.0 (200.0 ) — Investment in subsidiaries 6,228.5 37.7 — (6,266.2 ) — Other assets 22.9 30.9 303.8 — 357.6 Total assets $ 6,266.2 $ 2,326.0 $ 6,858.8 $ (8,981.7 ) $ 6,469.3 Liabilities and stockholders’ equity: Accounts payable $ 3.4 $ 263.7 $ 220.4 $ — $ 487.5 Accrued liabilities 42.8 59.8 211.8 — 314.4 Intercompany notes payable 1,274.2 1,241.3 — (2,515.5 ) — Deferred income taxes 67.8 — — — 67.8 Short-term debt and current portion of long-term debt 0.7 0.1 17.5 — 18.3 Total current liabilities 1,388.9 1,564.9 449.7 (2,515.5 ) 888.0 Long-term debt 1,350.9 150.2 1.6 — 1,502.7 Intercompany notes payable — 200.0 — (200.0 ) — Accrued postretirement benefits — 147.1 250.0 — 397.1 Pension liabilities 662.0 5.7 54.4 — 722.1 Deferred income taxes 143.6 — — — 143.6 Other long-term liabilities 20.1 21.0 61.9 — 103.0 Total liabilities 3,565.5 2,088.9 817.6 (2,715.5 ) 3,756.5 Redeemable noncontrolling interest — — 12.1 — 12.1 Total stockholders’ equity 2,700.7 237.1 6,029.1 (6,266.2 ) 2,700.7 Total liabilities and stockholders’ equity $ 6,266.2 $ 2,326.0 $ 6,858.8 $ (8,981.7 ) $ 6,469.3 Balance Sheets December 31, 2014 Guarantor Non-guarantor (In millions) Parent Subsidiary Subsidiaries Eliminations Consolidated Assets: Cash and cash equivalents $ 2.2 $ 13.8 $ 253.5 $ — $ 269.5 Accounts receivable, net 0.1 209.1 394.4 — 603.6 Intercompany notes receivable — — 2,390.8 (2,390.8 ) — Inventories, net — 387.7 1,085.1 — 1,472.8 Prepaid expenses and other current assets 63.7 13.2 59.3 — 136.2 Total current assets 66.0 623.8 4,183.1 (2,390.8 ) 2,482.1 Property, plant and equipment, net 2.2 1,545.1 1,414.5 — 2,961.8 Cost in excess of net assets acquired — 126.6 653.8 — 780.4 Intercompany notes receivable — — 200.0 (200.0 ) — Investment in subsidiaries 6,149.4 37.7 — (6,187.1 ) — Other assets 23.7 28.0 306.6 — 358.3 Total assets $ 6,241.3 $ 2,361.2 $ 6,758.0 $ (8,777.9 ) $ 6,582.6 Liabilities and stockholders’ equity: Accounts payable $ 4.5 $ 302.0 $ 250.2 $ — $ 556.7 Accrued liabilities 47.5 72.0 203.7 — 323.2 Intercompany notes payable 1,232.6 1,158.2 — (2,390.8 ) — Deferred income taxes 62.2 — — — 62.2 Short-term debt and current portion of long-term debt 0.5 0.1 17.2 — 17.8 Total current liabilities 1,347.3 1,532.3 471.1 (2,390.8 ) 959.9 Long-term debt 1,350.6 150.3 8.2 — 1,509.1 Intercompany notes payable — 200.0 — (200.0 ) — Accrued postretirement benefits — 153.0 262.8 — 415.8 Pension liabilities 675.5 6.0 57.8 — 739.3 Deferred income taxes 80.9 — — — 80.9 Other long-term liabilities 77.7 22.5 56.0 — 156.2 Total liabilities 3,532.0 2,064.1 855.9 (2,590.8 ) 3,861.2 Redeemable noncontrolling interest — — 12.1 — 12.1 Total stockholders’ equity 2,709.3 297.1 5,890.0 (6,187.1 ) 2,709.3 Total liabilities and stockholders’ equity $ 6,241.3 $ 2,361.2 $ 6,758.0 $ (8,777.9 ) $ 6,582.6
Statements of Operations and Comprehensive Income	Statements of Operations and Comprehensive Income For the three months ended June 30, 2014 (In millions) Guarantor Parent Subsidiary Non-guarantor Subsidiaries Eliminations Consolidated Sales $ — $ 513.8 $ 605.2 $ — $ 1,119.0 Cost of sales 14.8 525.2 489.5 — 1,029.5 Selling and administrative expenses 20.9 10.3 34.5 — 65.7 Income (loss) before interest, other income and income taxes (35.7 ) (21.7 ) 81.2 — 23.8 Interest income (expense), net (28.6 ) (11.2 ) 11.3 — (28.5 ) Other income (loss) including equity in income of unconsolidated subsidiaries 60.9 0.2 0.8 (60.6 ) 1.3 Income (loss) from continuing operations before income tax provision (benefit) (3.4 ) (32.7 ) 93.3 (60.6 ) (3.4 ) Income tax provision (benefit) (2.9 ) (11.8 ) 38.6 (26.8 ) (2.9 ) Income (loss) from continuing operations (0.5 ) (20.9 ) 54.7 (33.8 ) (0.5 ) Income (loss) from discontinued operations, net of tax (0.2 ) — (0.2 ) 0.2 (0.2 ) Net income (loss) (0.7 ) (20.9 ) 54.5 (33.6 ) (0.7 ) Less: Net income attributable to noncontrolling interests — — 3.3 — 3.3 Net income (loss) attributable to ATI $ (0.7 ) $ (20.9 ) $ 51.2 $ (33.6 ) $ (4.0 ) Comprehensive income (loss) attributable to ATI $ 28.2 $ (18.8 ) $ 60.2 $ (43.6 ) $ 26.0 Allegheny Technologies Incorporated Financial Information for Subsidiary and Guarantor Parent Statements of Operations and Comprehensive Income For the six months ended June 30, 2014 (In millions) Guarantor Parent Subsidiary Non-guarantor Subsidiaries Eliminations Consolidated Sales $ — $ 941.7 $ 1,164.6 $ — $ 2,106.3 Cost of sales 27.1 964.8 954.7 — 1,946.6 Selling and administrative expenses 48.0 20.4 65.0 — 133.4 Income (loss) before interest, other income and income taxes (75.1 ) (43.5 ) 144.9 — 26.3 Interest income (expense), net (57.1 ) (21.8 ) 21.3 — (57.6 ) Other income (loss) including equity in income of unconsolidated subsidiaries 102.8 0.5 1.4 (102.8 ) 1.9 Income (loss) from continuing operations before income tax provision (benefit) (29.4 ) (64.8 ) 167.6 (102.8 ) — (29.4 ) Income tax provision (benefit) (12.9 ) (23.1 ) 65.0 (41.9 ) (12.9 ) Income (loss) from continuing operations (16.5 ) (41.7 ) 102.6 (60.9 ) — (16.5 ) Income (loss) from discontinued operations, net of tax (2.1 ) — (2.1 ) 2.1 (2.1 ) Net income (loss) (18.6 ) (41.7 ) 100.5 (58.8 ) — (18.6 ) Less: Net income attributable to noncontrolling interests — — 5.4 — 5.4 Net income (loss) attributable to ATI $ (18.6 ) $ (41.7 ) $ 95.1 $ (58.8 ) — $ (24.0 ) Comprehensive income (loss) attributable to ATI $ 27.4 $ (37.6 ) $ 102.7 $ (67.5 ) $ 25.0 Statements of Operations and Comprehensive Income For the three months ended June 30, 2015 (In millions) Guarantor Parent Subsidiary Non-guarantor Subsidiaries Eliminations Consolidated Sales $ — $ 436.7 $ 585.8 $ — $ 1,022.5 Cost of sales 10.6 429.0 505.9 — 945.5 Selling and administrative expenses 21.4 9.4 41.6 — 72.4 Income (loss) before interest, other income and income taxes (32.0 ) (1.7 ) 38.3 — 4.6 Interest income (expense), net (28.6 ) (12.5 ) 14.3 — (26.8 ) Other income (loss) including equity in income of unconsolidated subsidiaries 39.0 0.2 0.5 (39.1 ) 0.6 Income (loss) from continuing operations before income tax provision (benefit) (21.6 ) (14.0 ) 53.1 (39.1 ) (21.6 ) Income tax provision (benefit) (7.7 ) (4.6 ) 22.3 (17.7 ) (7.7 ) Income (loss) from continuing operations (13.9 ) (9.4 ) 30.8 (21.4 ) (13.9 ) Income (loss) from discontinued operations, net of tax — — — — — Net income (loss) (13.9 ) (9.4 ) 30.8 (21.4 ) (13.9 ) Less: Net income attributable to noncontrolling interests — — 2.5 — 2.5 Net income (loss) attributable to ATI $ (13.9 ) $ (9.4 ) $ 28.3 $ (21.4 ) $ (16.4 ) Comprehensive income (loss) attributable to ATI $ 10.1 $ (6.4 ) $ 47.4 $ (44.0 ) $ 7.1 Allegheny Technologies Incorporated Financial Information for Subsidiary and Guarantor Parent Statements of Operations and Comprehensive Income For the six months ended June 30, 2015 (In millions) Guarantor Parent Subsidiary Non-guarantor Subsidiaries Eliminations Consolidated Sales $ — $ 945.2 $ 1,202.8 $ — $ 2,148.0 Cost of sales 12.8 933.0 1,015.7 — 1,961.5 Selling and administrative expenses 47.2 21.1 67.2 — 135.5 Income (loss) before interest, other income and income taxes (60.0 ) (8.9 ) 119.9 — 51.0 Interest income (expense), net (56.6 ) (24.7 ) 27.8 — (53.5 ) Other income (loss) including equity in income of unconsolidated subsidiaries 115.6 0.6 1.1 (115.8 ) 1.5 Income (loss) from continuing operations before income tax provision (benefit) (1.0 ) (33.0 ) 148.8 (115.8 ) (1.0 ) Income tax provision (benefit) 0.3 (11.2 ) 56.4 (45.2 ) 0.3 Income (loss) from continuing operations (1.3 ) (21.8 ) 92.4 (70.6 ) (1.3 ) Income (loss) from discontinued operations, net of tax — — — — — Net income (loss) (1.3 ) (21.8 ) 92.4 (70.6 ) (1.3 ) Less: Net income attributable to noncontrolling interests — — 5.1 — 5.1 Net income (loss) attributable to ATI $ (1.3 ) $ (21.8 ) $ 87.3 $ (70.6 ) $ (6.4 ) Comprehensive income (loss) attributable to ATI $ 23.1 $ (15.5 ) $ 85.2 $ (75.1 ) $ 17.7
Condensed Statements of Cash Flows	Condensed Statements of Cash Flows For the six months ended June 30, 2015 (In millions) Guarantor Parent Subsidiary Non-guarantor Subsidiaries Eliminations Consolidated Cash flows provided by (used in) operating activities $ (38.0 ) $ (98.1 ) $ 227.6 $ — $ 91.5 Investing Activities: Purchases of property, plant and equipment — (26.0 ) (37.3 ) — (63.3 ) Purchases of businesses, net of cash acquired — — (0.5 ) — (0.5 ) Net receipts/(payments) on intercompany activity — — (206.4 ) 206.4 — Asset disposals and other — 0.2 (0.2 ) — — Cash flows provided by (used in) investing activities — (25.8 ) (244.4 ) 206.4 (63.8 ) Financing Activities: Net receipts/(payments) on intercompany activity 81.3 125.1 — (206.4 ) — Dividends paid to stockholders (38.6 ) — — — (38.6 ) Other (1.7 ) (0.1 ) (5.9 ) — (7.7 ) Cash flows provided by (used in) financing activities 41.0 125.0 (5.9 ) (206.4 ) (46.3 ) Increase (decrease) in cash and cash equivalents $ 3.0 $ 1.1 $ (22.7 ) $ — $ (18.6 ) Condensed Statements of Cash Flows For the six months ended June 30, 2014 (In millions) Guarantor Parent Subsidiary Non-guarantor Subsidiaries Eliminations Consolidated Cash flows provided by (used in) operating activities $ (45.6 ) $ (196.9 ) $ 205.0 $ — $ (37.5 ) Investing Activities: Purchases of property, plant and equipment — (72.4 ) (25.5 ) — (97.9 ) Purchases of businesses, net of cash acquired — — (92.5 ) — (92.5 ) Net receipts/(payments) on intercompany activity — — (766.5 ) 766.5 — Asset disposals and other — 1.5 0.6 — 2.1 Cash flows provided by (used in) investing activities — (70.9 ) (883.9 ) 766.5 (188.3 ) Financing Activities: Payments on long-term debt and capital leases (397.7 ) — (5.7 ) — (403.4 ) Net receipts/(payments) on intercompany activity 486.8 279.7 — (766.5 ) — Dividends paid to stockholders (38.6 ) — — — (38.6 ) Other (3.9 ) — — — (3.9 ) Cash flows provided by (used in) financing activities 46.6 279.7 (5.7 ) (766.5 ) (445.9 ) Increase (decrease) in cash and cash equivalents $ 1.0 $ 11.9 $ (684.6 ) $ — $ (671.7 )

Accumulated Other Comprehensi33

Accumulated Other Comprehensive Income (Loss) (Tables)	6 Months Ended
	Jun. 30, 2015
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Schedule Of Accumulated Other Comprehensive Income Loss	The changes in accumulated other comprehensive income (loss) (AOCI) by component, net of tax, for the three month period ended June 30, 2015 were as follows (in millions): Post- retirement benefit plans Currency translation adjustment Unrealized holding gains on securities Derivatives Total Attributable to ATI: Balance, March 31, 2015 $ (919.0 ) $ (37.8 ) $ — $ 26.0 $ (930.8 ) OCI before reclassifications — 18.8 (0.1 ) (6.4 ) 12.3 Amounts reclassified from AOCI (a) 12.5 (b) — (b) — (c) (1.3 ) 11.2 Net current-period OCI 12.5 18.8 (0.1 ) (7.7 ) 23.5 Balance, June 30, 2015 $ (906.5 ) $ (19.0 ) $ (0.1 ) $ 18.3 $ (907.3 ) Attributable to noncontrolling interests: Balance, March 31, 2015 $ — $ $ 24.8 $ — $ — $ 24.8 OCI before reclassifications — 0.5 — — 0.5 Amounts reclassified from AOCI — (b) — — — — Net current-period OCI — 0.5 — — 0.5 Balance, June 30, 2015 $ — $ 25.3 $ — $ — $ 25.3 The changes in accumulated other comprehensive income (loss) (AOCI) by component, net of tax, for the six month period ended June 30, 2015 were as follows (in millions): Post- retirement benefit plans Currency translation adjustment Unrealized holding gains on securities Derivatives Total Attributable to ATI: Balance, December 31, 2014 $ (931.5 ) $ (16.2 ) $ — $ 16.3 $ (931.4 ) OCI before reclassifications — (2.8 ) (0.1 ) 5.0 2.1 Amounts reclassified from AOCI (a) 25.0 (b) — (b) — (c) (3.0 ) 22.0 Net current-period OCI 25.0 (2.8 ) (0.1 ) 2.0 24.1 Balance, June 30, 2015 $ (906.5 ) $ (19.0 ) $ (0.1 ) $ 18.3 $ (907.3 ) Attributable to noncontrolling interests: Balance, December 31, 2014 $ — $ $ 25.0 $ — $ — $ 25.0 OCI before reclassifications — 0.3 — — 0.3 Amounts reclassified from AOCI — (b) — — — — Net current-period OCI — 0.3 — — 0.3 Balance, June 30, 2015 $ — $ 25.3 $ — $ — $ 25.3 (a) Amounts were included in net periodic benefit cost for pension and other postretirement benefit plans (see Note 7). (b) No amounts were reclassified to earnings. (c) Amounts are included in cost of goods sold in the period or periods the hedged item affects earnings (see Note 5). The changes in accumulated other comprehensive income (loss) (AOCI) by component, net of tax, for the three month period ended June 30, 2014 were as follows (in millions): Post- retirement benefit plans Currency translation adjustment Unrealized holding gains on securities Derivatives Total Attributable to ATI: Balance, March 31, 2014 $ (705.5 ) $ 13.8 $ — $ (2.6 ) $ (694.3 ) OCI before reclassifications — 8.9 0.1 7.9 16.9 Amounts reclassified from AOCI (a) 13.5 (b) — (b) — (c) (0.3 ) 13.2 Net current-period OCI 13.5 8.9 0.1 7.6 30.1 Balance, June 30, 2014 $ (692.0 ) $ 22.7 $ 0.1 $ 5.0 $ (664.2 ) Attributable to noncontrolling interests: Balance, March 31, 2014 $ — $ 25.3 $ — $ — $ 25.3 OCI before reclassifications — (1.2 ) — — (1.2 ) Amounts reclassified from AOCI — (b) — — — — Net current-period OCI — (1.2 ) — — $ (1.2 ) Balance, June 30, 2014 $ — $ 24.1 $ — $ — $ 24.1 The changes in accumulated other comprehensive income (loss) (AOCI) by component, net of tax, for the six month period ended June 30, 2014 were as follows (in millions): Post- retirement benefit plans Currency translation adjustment Unrealized holding gains on securities Derivatives Total Attributable to ATI: Balance, December 31, 2013 $ (718.9 ) $ 15.3 $ — $ (9.6 ) $ (713.2 ) OCI before reclassifications — 7.4 0.1 13.6 21.1 Amounts reclassified from AOCI (a) 26.9 (b) — (b) — (c) 1.0 27.9 Net current-period OCI 26.9 7.4 0.1 14.6 49.0 Balance, June 30, 2014 $ (692.0 ) $ 22.7 $ 0.1 $ 5.0 $ (664.2 ) Attributable to noncontrolling interests: Balance, December 31, 2013 $ — $ 27.1 $ — $ — $ 27.1 OCI before reclassifications — (3.0 ) — — (3.0 ) Amounts reclassified from AOCI — (b) — — — — Net current-period OCI — (3.0 ) — — $ (3.0 ) Balance, June 30, 2014 $ — $ 24.1 $ — $ — $ 24.1 (a) Amounts were included in net periodic benefit cost for pension and other postretirement benefit plans (see Note 7). (b) No amounts were reclassified to earnings. (c) Amounts are included in cost of goods sold in the period or periods the hedged item affects earnings (see Note 5).
Reclassification out of Accumulated Other Comprehensive Income	Reclassifications out of AOCI for the three and six month periods ended June 30, 2015 and 2014 were as follows: Amount reclassified from AOCI Details about AOCI Components (In millions) Three months ended June 30, 2015 Three months ended June 30, 2014 Six months ended June 30, 2015 Six months ended June 30, 2014 Affected line item in the statements of operations Postretirement benefit plans Prior service (cost) credit $ (1.5 ) $ 0.1 (a) $ (3.0 ) $ 0.3 (a) Actuarial losses (18.7 ) (22.0 ) (a) (37.4 ) (44.0 ) (a) (20.2 ) (21.9 ) (c) (40.4 ) (43.7 ) (c) Total before tax (7.7 ) (8.4 ) (15.4 ) (16.8 ) Tax provision (benefit) $ (12.5 ) $ (13.5 ) $ (25.0 ) $ (26.9 ) Net of tax Derivatives Nickel and other raw material contracts $ (3.9 ) $ 1.5 (b) $ (7.5 ) $ (1.3 ) (b) Natural gas contracts (3.9 ) 1.6 (b) (7.8 ) 3.9 (b) Electricity contracts — 0.1 (b) (0.2 ) 0.8 (b) Foreign exchange contracts 9.9 (2.7 ) (b) 20.3 (5.0 ) (b) 2.1 0.5 (c) 4.8 (1.6 ) (c) Total before tax 0.8 0.2 1.8 (0.6 ) Tax provision (benefit) $ 1.3 $ 0.3 $ 3.0 $ (1.0 ) Net of tax (a) Amounts are included in the computation of pension and other postretirement benefit expense, which is reported in both cost of goods sold and selling and administrative expenses. For additional information, see Note 7. (b) Amounts are included in cost of goods sold in the period or periods the hedged item affects earnings. For additional information, see Note 5. (c) For pretax items, positive amounts are income and negative amounts are expense in terms of the impact to net income. Tax effects are presented in conformity with ATI’s presentation in the consolidated statements of operations.

Accounting Policies (Discontinu

Accounting Policies (Discontinued Operations) (Details) - Jun. 30, 2014 - USD ($) $ in Millions	Total	Total
Accounting Policies [Abstract]
Discontinued operations sales	$ 6.4	$ 11.6
Discontinued operations pretax loss	$ (0.2)	$ (3)

Accounting Policies (Accounting

Accounting Policies (Accounting Pronouncements) (Details) - USD ($) $ in Millions	Jun. 30, 2015	Dec. 31, 2014
Accounting Standard Update 2015-03
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Debt issuance costs to be reclassified	$ 10.2	$ 10.9

Inventories (Details)

Inventories (Details) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Dec. 31, 2014
Inventory Disclosure [Abstract]
Raw materials and supplies	$ 239.2		$ 249.3
Work-in-process	1,166.3		1,184.1
Finished goods	191.8		172.2
Total inventories at current cost	1,597.3		1,605.6
Adjustment from current cost to LIFO cost basis	9.3		4.8
Inventory valuation reserves	(71)		(68.8)
Progress payments	(62.7)		(68.8)
Total inventories, net	1,472.9		$ 1,472.8
Inventory [Line Items]
Lifo Provision (Benefit)	(4.5)	$ 37.9
High Performance Materials & Components
Inventory [Line Items]
Change in inventory valuation reserve	4.3	(35)
Flat Rolled Products
Inventory [Line Items]
Change in inventory valuation reserve	$ 11.4	$ 13.1

Property, Plant and Equipment37

Property, Plant and Equipment (Details) - USD ($) $ in Millions	Jun. 30, 2015	Dec. 31, 2014
Property, Plant and Equipment [Abstract]
Land	$ 30.4	$ 30.2
Buildings	1,051.2	1,048.9
Equipment and leasehold improvements	3,762.4	3,702.5
Property Plant And Equipment, gross	4,844	4,781.6
Accumulated depreciation and amortization	(1,897.3)	(1,819.8)
Total property, plant and equipment, net	2,946.7	$ 2,961.8
Construction in progress	$ 65.6

Debt Schedule of Debt (Details)

Debt Schedule of Debt (Details) - USD ($)		6 Months Ended	12 Months Ended
		Jun. 30, 2015	Dec. 31, 2014	Feb. 15, 2015	Dec. 31, 2013
Debt Instrument [Line Items]
Total Debt		$ 1,521,000,000	$ 1,526,900,000
Short-term debt and current portion of long-term debt		18,300,000	17,800,000
Long-term debt		1,502,700,000	1,509,100,000
Allegheny Technologies 5.875% Notes due 2023 (a)
Debt Instrument [Line Items]
Long-term Debt, Gross	[1]	$ 500,000,000	$ 500,000,000
Debt Instrument, Issuer		Allegheny Technologies
Debt Instrument, Maturity Date		Aug. 15, 2023	Aug. 15, 2023
Interest rate		6.375%	6.125%	6.375%	5.875%
Allegheny Technologies 5.95% Notes due 2021
Debt Instrument [Line Items]
Long-term Debt, Gross		$ 500,000,000	$ 500,000,000
Allegheny Technologies 9.375% Notes due 2019
Debt Instrument [Line Items]
Long-term Debt, Gross		350,000,000	350,000,000
Allegheny Ludlum 6.95% debentures due 2025
Debt Instrument [Line Items]
Long-term Debt, Gross		$ 150,000,000	150,000,000
Interest rate		6.95%
ATI Ladish Series B 6.14% Notes due 2016 (b)
Debt Instrument [Line Items]
Long-term Debt, Gross	[2]	$ 5,900,000	11,900,000
Business Acquisition Purchase Price Allocation Notes Payable and L T Debt		200,000	400,000
ATI Ladish Series C 6.41% Notes due 2015 (c)
Debt Instrument [Line Items]
Long-term Debt, Gross	[3]	10,100,000	10,300,000
Business Acquisition Purchase Price Allocation Notes Payable and L T Debt		100,000	300,000
Domestic Bank Group $400 million credit facility
Debt Instrument [Line Items]
Maximum borrowing capacity		400,000,000
Long-term Debt, Gross		0	0
Foreign credit facilities
Debt Instrument [Line Items]
Long-term Debt, Gross		0	0
Industrial revenue bonds, due through 2020, and other
Debt Instrument [Line Items]
Long-term Debt, Gross		$ 5,000,000	$ 4,700,000
ATI Ladish Series B 6.14% Notes due 2016 (b)
Debt Instrument [Line Items]
Debt Instrument, Issuer		ATI Ladish
Debt Instrument, Maturity Date		May 16, 2016	May 16, 2016
Interest rate		6.14%	6.14%
ATI Ladish Series C 6.41% Notes due 2015 (c)
Debt Instrument [Line Items]
Debt Instrument, Issuer		ATI Ladish
Debt Instrument, Maturity Date		Sep. 2, 2015	Sep. 2, 2015
Interest rate		6.41%	6.41%
Allegheny Technologies 5.95% Notes due 2021
Debt Instrument [Line Items]
Debt Instrument, Issuer		Allegheny Technologies
Debt Instrument, Maturity Date		Jan. 15, 2021	Jan. 15, 2021
Interest rate		5.95%	5.95%
Industrial revenue bonds, due through 2020, and other
Debt Instrument [Line Items]
Debt Instrument, Maturity Date Range, End		Jan. 1, 2020	Jan. 1, 2020
Allegheny Ludlum 6.95% debentures due 2025
Debt Instrument [Line Items]
Debt Instrument, Issuer		Allegheny Ludlum
Debt Instrument, Maturity Date		Dec. 15, 2025	Dec. 15, 2025
Interest rate			6.95%
Allegheny Technologies 9.375% Notes due 2019
Debt Instrument [Line Items]
Debt Instrument, Issuer		Allegheny Technologies
Debt Instrument, Maturity Date		Jun. 1, 2019	Jun. 1, 2019
Interest rate		9.375%	9.375%
Domestic Bank Group $400 million credit facility
Debt Instrument [Line Items]
Maximum borrowing capacity			$ 400,000,000
[1]	Bearing interest at 6.375% effective February 15, 2015.
[2]	Includes fair value adjustments of $0.2 million at June 30, 2015 and $0.4 million at December 31, 2014.
[3]	Includes fair value adjustments of $0.1 million at June 30, 2015 and $0.3 million at December 31, 2014.

Debt Narrative (Details)

Debt Narrative (Details) - Long-term Debt, Type [Domain] - Line of Credit Facility, Lender [Domain]		6 Months Ended
		Jun. 30, 2015USD ($)	Jun. 30, 2014USD ($)	Sep. 30, 2015USD ($)	Feb. 15, 2015	Dec. 31, 2014USD ($)	Dec. 31, 2013
Debt Instrument [Line Items]
Payments on long-term debt and capital leases		$ 6,300,000	$ 403,400,000
Allegheny Technologies 5.875% Notes due 2023 (a)
Debt Instrument [Line Items]
Interest rate		6.375%			6.375%	6.125%	5.875%
Long-term Debt, Gross	[1]	$ 500,000,000				$ 500,000,000
Domestic Bank Group $400 million credit facility
Debt Instrument [Line Items]
Long-term Debt, Gross		0				$ 0
Maximum borrowing capacity		400,000,000
Amount utilized to support the issuance of letters of credit		4,600,000
Average borrowings during period		$ 49,800,000
Line of Credit Facility, Interest Rate During Period		2.10%
Amount of Cash on Hand Used to Reduce the Indebtness Figure used in the Leverage Ratio Calculation		$ 50,000,000
Maximum leverage ratio for the quarter ended June 30, 2015		4.50
Maximum leverage ratio for the quarter ended September 30, 2015		3.75
Maximum leverage ratio for the quarter ended December 31, 2015 and for each fiscal quarter thereafter		3.50
Minimum interest coverage ratio for the quarter ended June 30, 2015		3
Minimum interest coverage ratio for the quarter ended September 30, 2015		3.25
Minimum interest coverage ratio for the quarter ended December 31, 2015 and for each fiscal quarter thereafter		3.50
Actual leverage ratio		3.93
Actual interest coverage ratio		3.13
Seperateletter of Credit Facility
Debt Instrument [Line Items]
Letters of credit outstanding		$ 32,000,000
STAL Precision Stainless Steel Company Limited
Debt Instrument [Line Items]
Noncontrolling Interest, Ownership Percentage by Parent		60.00%
Scenario, Forecast [Member] | Domestic Bank Group $400 million asset-based credit facility [Member]
Debt Instrument [Line Items]
Maximum borrowing capacity				$ 400,000,000
Scenario, Forecast [Member] | STAL Revolving Credit Facility
Debt Instrument [Line Items]
Maximum borrowing capacity				$ 20,000,000
[1]	Bearing interest at 6.375% effective February 15, 2015.

Derivative Financial Instrume40

Derivative Financial Instruments and Hedging (Details) € in Millions, $ in Millions	3 Months Ended				6 Months Ended
	Jun. 30, 2015USD ($)	Mar. 31, 2015USD ($)	Mar. 31, 2015EUR (€)	Jun. 30, 2014USD ($)	Jun. 30, 2015USD ($)	Jun. 30, 2014USD ($)	Jun. 30, 2015EUR (€)
Notional Disclosures [Abstract]
Percentage of estimated annual nickel requirements					20.00%
Percentage of forecasted natural gas usage hedged for 2015					80.00%
Percentage Of Forecasted Natural Gas Usage Hedged for 2016					80.00%
Percentage Of Forecasted Natural Gas Usage Hedged for 2017					50.00%
Reclassification of Cash Flow Hedge Gain (Loss) [Abstract]
Cash Flow Hedge Gain Loss To Be Reclassified Within Twelve Months					$ 2.2
Other Comprehensive Income | Cash Flow Hedging
Derivative Instruments Gain Loss [Line Items]
Derivative Instruments Gain Loss Recognized In Other Comprehensive Income Effective Portion Net	$ (6.4)			$ 7.9	5	$ 13.6
Cost Of Sales | Cash Flow Hedging
Derivative Instruments Gain Loss [Line Items]
Derivative Instruments Gain Loss Reclassified From Accumulated OCI Into Income Effective Portion Net	1.3			0.3	3	(1)
Selling And Administrative Expenses | Cash Flow Hedging
Derivative Instruments Gain Loss [Line Items]
Derivative Instruments Gain Loss Recognized In Income Ineffective Portion And Amount Excluded From Effectiveness Testing Net	0			0	0	0
Nickel and other raw material contracts | Other Comprehensive Income | Cash Flow Hedging
Derivative Instruments Gain Loss [Line Items]
Derivative Instruments Gain Loss Recognized In Other Comprehensive Income Effective Portion Net	(3.5)			7.1	(13.1)	10.1
Nickel and other raw material contracts | Cost Of Sales | Cash Flow Hedging
Derivative Instruments Gain Loss [Line Items]
Derivative Instruments Gain Loss Reclassified From Accumulated OCI Into Income Effective Portion Net	(2.4)			0.9	(4.6)	(0.8)
Nickel and other raw material contracts | Selling And Administrative Expenses | Cash Flow Hedging
Derivative Instruments Gain Loss [Line Items]
Derivative Instruments Gain Loss Recognized In Income Ineffective Portion And Amount Excluded From Effectiveness Testing Net	0			0	0	0
Natural gas contracts | Other Comprehensive Income | Cash Flow Hedging
Derivative Instruments Gain Loss [Line Items]
Derivative Instruments Gain Loss Recognized In Other Comprehensive Income Effective Portion Net	0.2			(1)	(5.8)	1.3
Natural gas contracts | Cost Of Sales | Cash Flow Hedging
Derivative Instruments Gain Loss [Line Items]
Derivative Instruments Gain Loss Reclassified From Accumulated OCI Into Income Effective Portion Net	(2.4)			1	(4.8)	2.4
Natural gas contracts | Selling And Administrative Expenses | Cash Flow Hedging
Derivative Instruments Gain Loss [Line Items]
Derivative Instruments Gain Loss Recognized In Income Ineffective Portion And Amount Excluded From Effectiveness Testing Net	0			0	0	0
Electricity contracts | Other Comprehensive Income | Cash Flow Hedging
Derivative Instruments Gain Loss [Line Items]
Derivative Instruments Gain Loss Recognized In Other Comprehensive Income Effective Portion Net	0			(0.1)	0	0.8
Electricity contracts | Cost Of Sales | Cash Flow Hedging
Derivative Instruments Gain Loss [Line Items]
Derivative Instruments Gain Loss Reclassified From Accumulated OCI Into Income Effective Portion Net	0			0.1	(0.1)	0.5
Electricity contracts | Selling And Administrative Expenses | Cash Flow Hedging
Derivative Instruments Gain Loss [Line Items]
Derivative Instruments Gain Loss Recognized In Income Ineffective Portion And Amount Excluded From Effectiveness Testing Net	0			0	0	0
Foreign exchange contracts | Other Comprehensive Income | Cash Flow Hedging
Derivative Instruments Gain Loss [Line Items]
Derivative Instruments Gain Loss Recognized In Other Comprehensive Income Effective Portion Net	(3.1)			1.9	23.9	1.4
Foreign exchange contracts | Cost Of Sales | Cash Flow Hedging
Derivative Instruments Gain Loss [Line Items]
Derivative Instruments Gain Loss Reclassified From Accumulated OCI Into Income Effective Portion Net	6.1			(1.7)	12.5	(3.1)
Foreign exchange contracts | Selling And Administrative Expenses | Cash Flow Hedging
Derivative Instruments Gain Loss [Line Items]
Derivative Instruments Gain Loss Recognized In Income Ineffective Portion And Amount Excluded From Effectiveness Testing Net	0			0	0	0
Designated as Hedging Instrument | Foreign exchange forward | Cash Flow Hedging
Derivative Instruments Gain Loss [Line Items]
Notional amount of derivatives net settled | €			€ 126.5
Cash proceeds from settlement of hedge		$ 26.1
Designated as Hedging Instrument | Foreign exchange forward | Cost Of Sales | Fair Value Hedging
Derivative Instruments Gain Loss [Line Items]
Gain on derivative	1.9				7.4
Designated as Hedging Instrument | Foreign exchange forward | Maturity dates Through February 2018
Derivative Instruments Gain Loss [Line Items]
Notional amount of derivative | €							€ 334
Designated as Hedging Instrument | Foreign exchange forward | Maturity Dates Through 2015
Derivative Instruments Gain Loss [Line Items]
Notional amount of derivative | €							103
Designated as Hedging Instrument | Foreign exchange forward | Maturity Dates Through 2015 | Fair Value Hedging
Derivative Instruments Gain Loss [Line Items]
Notional amount of derivative | €			115				69
Not Designated as Hedging Instrument | Foreign exchange forward
Derivative Instruments Gain Loss [Line Items]
Notional amount of derivatives net settled | €			€ 40.3
Cash proceeds from settlement of hedge		$ 11.8
Not Designated as Hedging Instrument | Foreign exchange forward | Maturity Dates Through February 2016
Derivative Instruments Gain Loss [Line Items]
Notional amount of derivative | €							€ 33
Not Designated as Hedging Instrument | Foreign exchange contracts | Cost Of Sales
Derivative Instruments Gain Loss [Line Items]
Derivative Instruments Gain Loss Recognized In Income Net	$ (0.5)			$ 0.9	$ 3	$ 1.1

Derivative Financial Instrume41

Derivative Financial Instruments and Hedging (Details2) - USD ($) $ in Millions	Jun. 30, 2015	Dec. 31, 2014
Derivatives Fair Value [Line Items]
Derivative Fair Value Of Derivative Asset	$ 58.1	$ 59.9
Derivative Fair Value Of Derivative Liability	42.2	27
Designated as Hedging Instrument
Derivatives Fair Value [Line Items]
Derivative Fair Value Of Derivative Asset	58.1	53.5
Derivative Fair Value Of Derivative Liability	41	27
Not Designated as Hedging Instrument
Derivatives Fair Value [Line Items]
Derivative Fair Value Of Derivative Asset	0	6.4
Derivative Fair Value Of Derivative Liability	1.2	0
Prepaid expenses and other current assets | Nickel and other raw material contracts | Designated as Hedging Instrument
Derivatives Fair Value [Line Items]
Derivative Fair Value Of Derivative Asset	0	1.1
Prepaid expenses and other current assets | Foreign exchange contracts | Designated as Hedging Instrument
Derivatives Fair Value [Line Items]
Derivative Fair Value Of Derivative Asset	25.2	23.6
Prepaid expenses and other current assets | Foreign exchange contracts | Not Designated as Hedging Instrument
Derivatives Fair Value [Line Items]
Derivative Fair Value Of Derivative Asset	0	6.4
Other assets | Nickel and other raw material contracts | Designated as Hedging Instrument
Derivatives Fair Value [Line Items]
Derivative Fair Value Of Derivative Asset	0	0.5
Other assets | Foreign exchange contracts | Designated as Hedging Instrument
Derivatives Fair Value [Line Items]
Derivative Fair Value Of Derivative Asset	32.9	28.3
Accrued liabilities | Nickel and other raw material contracts | Designated as Hedging Instrument
Derivatives Fair Value [Line Items]
Derivative Fair Value Of Derivative Liability	10.7	5.8
Accrued liabilities | Natural gas contracts | Designated as Hedging Instrument
Derivatives Fair Value [Line Items]
Derivative Fair Value Of Derivative Liability	10.9	10.2
Accrued liabilities | Electricity contracts | Designated as Hedging Instrument
Derivatives Fair Value [Line Items]
Derivative Fair Value Of Derivative Liability	0	0.1
Accrued liabilities | Foreign exchange contracts | Not Designated as Hedging Instrument
Derivatives Fair Value [Line Items]
Derivative Fair Value Of Derivative Liability	1.2	0
Other long-term liabilities | Nickel and other raw material contracts | Designated as Hedging Instrument
Derivatives Fair Value [Line Items]
Derivative Fair Value Of Derivative Liability	10.5	3
Other long-term liabilities | Natural gas contracts | Designated as Hedging Instrument
Derivatives Fair Value [Line Items]
Derivative Fair Value Of Derivative Liability	$ 8.9	$ 7.9

Fair Value of Financial Instr42

Fair Value of Financial Instruments (Details) - USD ($) $ in Millions	Jun. 30, 2015	Dec. 31, 2014
Carrying Reported Amount Fair Value Disclosure
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Cash and cash equivalents	$ 250.9	$ 269.5
Derivative financial instruments, Assets	58.1	59.9
Derivative Financial Instruments, liabilities	42.2	27
Debt	1,521	1,526.9
Estimate Of Fair Value Fair Value Disclosure
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Cash and cash equivalents	250.9	269.5
Derivative financial instruments, Assets	58.1	59.9
Derivative Financial Instruments, liabilities	42.2	27
Debt	1,624.9	1,616
Estimate Of Fair Value Fair Value Disclosure | Fair Value Inputs Level 1
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Cash and cash equivalents	250.9	269.5
Derivative financial instruments, Assets	0	0
Derivative Financial Instruments, liabilities	0	0
Debt	1,603.9	1,589.1
Estimate Of Fair Value Fair Value Disclosure | Fair Value Inputs Level 2
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Cash and cash equivalents	0	0
Derivative financial instruments, Assets	58.1	59.9
Derivative Financial Instruments, liabilities	42.2	27
Debt	$ 21	$ 26.9

Pension Plans and Other Postr43

Pension Plans and Other Postretirement Benefits (Details1) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Pension Plans Defined Benefit
Defined Benefit Plan Disclosure [Line Items]
Service cost - benefits earned during the year	$ 5.7	$ 7.3	$ 11.4	$ 14.7
Interest cost on benefits earned in prior years	30.2	33.4	60.5	66.8
Expected return on plan assets	(42)	(46)	(84.1)	(92.1)
Amortization of prior service cost (credit)	0.3	0.6	0.6	1.2
Amortization of net actuarial loss	15.1	18.5	30.2	37
Termination benefits	0	0.3	0	0.3
Total retirement benefit expense	9.3	14.1	18.6	27.9
Other Postretirement Benefit Plan, Defined Benefit [Member]
Defined Benefit Plan Disclosure [Line Items]
Service cost - benefits earned during the year	0.7	0.7	1.4	1.4
Interest cost on benefits earned in prior years	4.5	6	9	12
Expected return on plan assets	0	(0.1)	0	(0.1)
Amortization of prior service cost (credit)	1.2	(0.7)	2.4	(1.5)
Amortization of net actuarial loss	3.6	3.5	7.2	7
Termination benefits	0	0	0	0
Total retirement benefit expense	$ 10	$ 9.4	$ 20	$ 18.8

Pension Plans and Other Postr44

Pension Plans and Other Postretirement Benefits Narrative (Details) - Jun. 30, 2014 - USD ($) $ in Millions	Total	Total
Other Postretirement Benefit Plan, Defined Benefit [Member]
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Defined contribution plan, cost recognized	$ 0.6	$ 1.3

Income Taxes - Quarterly Disclo

Income Taxes - Quarterly Disclosure (Details9) - USD ($) $ in Millions	3 Months Ended			6 Months Ended
	Jun. 30, 2015	Mar. 31, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Investments, Owned, Federal Income Tax Note [Line Items]
Income tax (provision) benefit	$ 7.7		$ 2.9	$ (0.3)	$ 12.9
Effective Income Tax Rate Continuing Operations	35.60%		85.30%
Discrete tax benefits (expense)	$ (0.7)		$ 2.2	$ (0.9)	$ 4.4
Unrecognized Tax Benefits, Period Increase (Decrease)	$ (60.9)
Federal
Investments, Owned, Federal Income Tax Note [Line Items]
Proceeds from Income Tax Refunds		$ 59.9

Business Segments (Details)

Business Segments (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Segment Reporting Information [Line Items]
Sales	$ 1,022.5	$ 1,119	$ 2,148	$ 2,106.3
Operating profit (loss):	39.2	65.2	123	108.7
Corporate expenses	(9.2)	(11.7)	(21)	(23.2)
Interest expense, net	(26.8)	(28.5)	(53.5)	(57.6)
Closed company and other expenses	(5.5)	(4.3)	(10.9)	(9.3)
Retirement benefit expense	(19.3)	(24.1)	(38.6)	(48)
Income (loss) from continuing operations before income tax provision (benefit)	(21.6)	(3.4)	(1)	(29.4)
Interest Costs Capitalized	0.5	1.4
High Performance Materials & Components
Segment Reporting Information [Line Items]
Total sales:	511.1	514.1	1,053.9	998.5
Operating profit (loss):	42.6	85.1	118.5	154.2
Flat Rolled Products
Segment Reporting Information [Line Items]
Total sales:	511.4	604.9	1,094.1	1,107.8
Operating profit (loss):	(3.4)	(19.9)	4.5	(45.5)
Operating Segments [Member]
Segment Reporting Information [Line Items]
Total sales:	1,067	1,161.9	2,236.6	2,195.6
Operating Segments [Member] | High Performance Materials & Components
Segment Reporting Information [Line Items]
Total sales:	533.5	531.4	1,098.4	1,035.5
Operating Segments [Member] | Flat Rolled Products
Segment Reporting Information [Line Items]
Total sales:	533.5	630.5	1,138.2	1,160.1
Intersegment Eliminations [Member]
Segment Reporting Information [Line Items]
Total sales:	44.5	42.9	88.6	89.3
Intersegment Eliminations [Member] | High Performance Materials & Components
Segment Reporting Information [Line Items]
Total sales:	22.4	17.3	44.5	37
Intersegment Eliminations [Member] | Flat Rolled Products
Segment Reporting Information [Line Items]
Total sales:	$ 22.1	$ 25.6	$ 44.1	$ 52.3

Redeemable Noncontrolling Int47

Redeemable Noncontrolling Interest (Details) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2015	Dec. 31, 2014	Feb. 07, 2014
Redeemable Noncontrolling Interest [Line Items]
Redeemable noncontrolling interest	$ 0
Redeemable noncontrolling interest	12.1	$ 12.1
Dynamic Flowform [Member]
Redeemable Noncontrolling Interest [Line Items]
Noncontrolling Interest, Ownership Percentage by Noncontrolling Owners			15.00%
[RetainedEarningsMember]
Redeemable Noncontrolling Interest [Line Items]
Redeemable noncontrolling interest	$ (0.1)

Per Share Information (Details)

Per Share Information (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Earnings Per Share Reconciliation [Abstract]
Loss from continuing operations attributable to ATI	$ (16.4)	$ (3.8)	$ (6.4)	$ (21.9)
Redeemable noncontrolling interest	0	0	(0.1)	0
Loss from continuing operations available to ATI after assumed conversions	$ (16.4)	$ (3.8)	$ (6.5)	$ (21.9)
Denominator for basic net loss per common share-weighted average shares	107,300,000	107,100,000	107,200,000	107,000,000
Share-based compensation	0	0	0	0
4.25% Convertible Notes due 2014	0	0	0	0
Denominator for diluted net loss per common share – adjusted weighted average shares assuming conversions	107,300,000	107,100,000	107,200,000	107,000,000
Basic income (loss) from continuing operations attributable to ATI per common share (in dollars per share)	$ (0.15)	$ (0.03)	$ (0.06)	$ (0.20)
Diluted income (loss) from continuing operations attributable to ATI per common share (in dollars per share)	$ (0.15)	$ (0.03)	$ (0.06)	$ (0.20)
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount	1,200,000	7,000,000	1,000,000	8,500,000

Financial Information for Sub49

Financial Information for Subsidiary and Guarantor Parent (Narrative) (Details) - Allegheny Ludlum 6.95% debentures due 2025 - USD ($) $ in Millions	Jun. 30, 2015	Dec. 31, 2014
Debt Instrument [Line Items]
Long-term Debt, Gross	$ 150	$ 150
Interest rate	6.95%

Financial Information for Sub50

Financial Information for Subsidiary and Guarantor Parent (B.S.) (Details) - USD ($) $ in Millions	Jun. 30, 2015	Dec. 31, 2014	Jun. 30, 2014	Dec. 31, 2013
ASSETS
Cash and cash equivalents	$ 250.9	$ 269.5	$ 355.1	$ 1,026.8
Accounts receivable, net	593.4	603.6
Intercompany notes receivable	0	0
Inventories, net	1,472.9	1,472.8
Prepaid expenses and other current assets	66.3	136.2
Total current assets	2,383.5	2,482.1
Property, plant and equipment, net	2,946.7	2,961.8
Cost in excess of net assets acquired	781.5	780.4
Intercompany notes receivable	0	0
Investment in subsidiaries	0	0
Other assets	357.6	358.3
Total assets	6,469.3	6,582.6
LIABILITIES AND EQUITY
Accounts payable	487.5	556.7
Accrued liabilities	314.4	323.2
Intercompany notes payable	0	0
Deferred income taxes	67.8	62.2
Short-term debt and current portion of long-term debt	18.3	17.8
Total current liabilities	888	959.9
Long-term debt	1,502.7	1,509.1
Intercompany notes payable	0	0
Accrued postretirement benefits	397.1	415.8
Pension liabilities	722.1	739.3
Deferred income taxes	143.6	80.9
Other long-term liabilities	103	156.2
Total liabilities	3,756.5	3,861.2
Redeemable noncontrolling interest	12.1	12.1
Total stockholders’ equity	2,700.7	2,709.3	$ 2,978.6	$ 2,994.7
Total Liabilities and Equity	6,469.3	6,582.6
Parent Company
ASSETS
Cash and cash equivalents	5.2	2.2
Accounts receivable, net	0.1	0.1
Intercompany notes receivable	0	0
Inventories, net	0	0
Prepaid expenses and other current assets	7	63.7
Total current assets	12.3	66
Property, plant and equipment, net	2.5	2.2
Cost in excess of net assets acquired	0	0
Intercompany notes receivable	0	0
Investment in subsidiaries	6,228.5	6,149.4
Other assets	22.9	23.7
Total assets	6,266.2	6,241.3
LIABILITIES AND EQUITY
Accounts payable	3.4	4.5
Accrued liabilities	42.8	47.5
Intercompany notes payable	1,274.2	1,232.6
Deferred income taxes	67.8	62.2
Short-term debt and current portion of long-term debt	0.7	0.5
Total current liabilities	1,388.9	1,347.3
Long-term debt	1,350.9	1,350.6
Intercompany notes payable	0	0
Accrued postretirement benefits	0	0
Pension liabilities	662	675.5
Deferred income taxes	143.6	80.9
Other long-term liabilities	20.1	77.7
Total liabilities	3,565.5	3,532
Redeemable noncontrolling interest	0	0
Total stockholders’ equity	2,700.7	2,709.3
Total Liabilities and Equity	6,266.2	6,241.3
Subsidiaries
ASSETS
Cash and cash equivalents	14.9	13.8
Accounts receivable, net	168	209.1
Intercompany notes receivable	0	0
Inventories, net	388.6	387.7
Prepaid expenses and other current assets	9.8	13.2
Total current assets	581.3	623.8
Property, plant and equipment, net	1,549.5	1,545.1
Cost in excess of net assets acquired	126.6	126.6
Intercompany notes receivable	0	0
Investment in subsidiaries	37.7	37.7
Other assets	30.9	28
Total assets	2,326	2,361.2
LIABILITIES AND EQUITY
Accounts payable	263.7	302
Accrued liabilities	59.8	72
Intercompany notes payable	1,241.3	1,158.2
Deferred income taxes	0	0
Short-term debt and current portion of long-term debt	0.1	0.1
Total current liabilities	1,564.9	1,532.3
Long-term debt	150.2	150.3
Intercompany notes payable	200	200
Accrued postretirement benefits	147.1	153
Pension liabilities	5.7	6
Deferred income taxes	0	0
Other long-term liabilities	21	22.5
Total liabilities	2,088.9	2,064.1
Redeemable noncontrolling interest	0	0
Total stockholders’ equity	237.1	297.1
Total Liabilities and Equity	2,326	2,361.2
NonGuarantor Subsidiaries
ASSETS
Cash and cash equivalents	230.8	253.5
Accounts receivable, net	425.3	394.4
Intercompany notes receivable	2,515.5	2,390.8
Inventories, net	1,084.3	1,085.1
Prepaid expenses and other current assets	49.5	59.3
Total current assets	4,305.4	4,183.1
Property, plant and equipment, net	1,394.7	1,414.5
Cost in excess of net assets acquired	654.9	653.8
Intercompany notes receivable	200	200
Investment in subsidiaries	0	0
Other assets	303.8	306.6
Total assets	6,858.8	6,758
LIABILITIES AND EQUITY
Accounts payable	220.4	250.2
Accrued liabilities	211.8	203.7
Intercompany notes payable	0	0
Deferred income taxes	0	0
Short-term debt and current portion of long-term debt	17.5	17.2
Total current liabilities	449.7	471.1
Long-term debt	1.6	8.2
Intercompany notes payable	0	0
Accrued postretirement benefits	250	262.8
Pension liabilities	54.4	57.8
Deferred income taxes	0	0
Other long-term liabilities	61.9	56
Total liabilities	817.6	855.9
Redeemable noncontrolling interest	12.1	12.1
Total stockholders’ equity	6,029.1	5,890
Total Liabilities and Equity	6,858.8	6,758
Consolidation Eliminations
ASSETS
Cash and cash equivalents	0	0
Accounts receivable, net	0	0
Intercompany notes receivable	(2,515.5)	(2,390.8)
Inventories, net	0	0
Prepaid expenses and other current assets	0	0
Total current assets	(2,515.5)	(2,390.8)
Property, plant and equipment, net	0	0
Cost in excess of net assets acquired	0	0
Intercompany notes receivable	(200)	(200)
Investment in subsidiaries	(6,266.2)	(6,187.1)
Other assets	0	0
Total assets	(8,981.7)	(8,777.9)
LIABILITIES AND EQUITY
Accounts payable	0	0
Accrued liabilities	0	0
Intercompany notes payable	(2,515.5)	(2,390.8)
Deferred income taxes	0	0
Short-term debt and current portion of long-term debt	0	0
Total current liabilities	(2,515.5)	(2,390.8)
Long-term debt	0	0
Intercompany notes payable	(200)	(200)
Accrued postretirement benefits	0	0
Pension liabilities	0	0
Deferred income taxes	0	0
Other long-term liabilities	0	0
Total liabilities	(2,715.5)	(2,590.8)
Redeemable noncontrolling interest	0	0
Total stockholders’ equity	(6,266.2)	(6,187.1)
Total Liabilities and Equity	$ (8,981.7)	$ (8,777.9)

Financial Information for Sub51

Financial Information for Subsidiary and Guarantor Parent (I.S.) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Income Statement [Abstract]
Sales	$ 1,022.5	$ 1,119	$ 2,148	$ 2,106.3
Cost of sales	945.5	1,029.5	1,961.5	1,946.6
Selling and administrative expenses	72.4	65.7	135.5	133.4
Income (loss) before interest, other income and income taxes	4.6	23.8	51	26.3
Interest income (expense), net	(26.8)	(28.5)	(53.5)	(57.6)
Other income (loss) including equity in income of unconsolidated subsidiaries	0.6	1.3	1.5	1.9
Income (loss) from continuing operations before income tax provision (benefit)	(21.6)	(3.4)	(1)	(29.4)
Income tax provision (benefit)	(7.7)	(2.9)	0.3	(12.9)
Loss from continuing operations	(13.9)	(0.5)	(1.3)	(16.5)
Income (loss) from discontinued operations, net of tax	0	(0.2)	0	(2.1)
Net income (loss)	(13.9)	(0.7)	(1.3)	(18.6)
Less: Net income attributable to noncontrolling interests	2.5	3.3	5.1	5.4
Net income (loss) attributable to ATI	(16.4)	(4)	(6.4)	(24)
Comprehensive income (loss) attributable to ATI	7.1	26	17.7	25
Parent Company
Income Statement [Abstract]
Sales	0	0	0	0
Cost of sales	10.6	14.8	12.8	27.1
Selling and administrative expenses	21.4	20.9	47.2	48
Income (loss) before interest, other income and income taxes	(32)	(35.7)	(60)	(75.1)
Interest income (expense), net	(28.6)	(28.6)	(56.6)	(57.1)
Other income (loss) including equity in income of unconsolidated subsidiaries	39	60.9	115.6	102.8
Income (loss) from continuing operations before income tax provision (benefit)	(21.6)	(3.4)	(1)	(29.4)
Income tax provision (benefit)	(7.7)	(2.9)	0.3	(12.9)
Loss from continuing operations	(13.9)	(0.5)	(1.3)	(16.5)
Income (loss) from discontinued operations, net of tax	0	(0.2)	0	(2.1)
Net income (loss)	(13.9)	(0.7)	(1.3)	(18.6)
Less: Net income attributable to noncontrolling interests	0	0	0	0
Net income (loss) attributable to ATI	(13.9)	(0.7)	(1.3)	(18.6)
Comprehensive income (loss) attributable to ATI	10.1	28.2	23.1	27.4
Subsidiaries
Income Statement [Abstract]
Sales	436.7	513.8	945.2	941.7
Cost of sales	429	525.2	933	964.8
Selling and administrative expenses	9.4	10.3	21.1	20.4
Income (loss) before interest, other income and income taxes	(1.7)	(21.7)	(8.9)	(43.5)
Interest income (expense), net	(12.5)	(11.2)	(24.7)	(21.8)
Other income (loss) including equity in income of unconsolidated subsidiaries	0.2	0.2	0.6	0.5
Income (loss) from continuing operations before income tax provision (benefit)	(14)	(32.7)	(33)	(64.8)
Income tax provision (benefit)	(4.6)	(11.8)	(11.2)	(23.1)
Loss from continuing operations	(9.4)	(20.9)	(21.8)	(41.7)
Income (loss) from discontinued operations, net of tax	0	0	0	0
Net income (loss)	(9.4)	(20.9)	(21.8)	(41.7)
Less: Net income attributable to noncontrolling interests	0	0	0	0
Net income (loss) attributable to ATI	(9.4)	(20.9)	(21.8)	(41.7)
Comprehensive income (loss) attributable to ATI	(6.4)	(18.8)	(15.5)	(37.6)
NonGuarantor Subsidiaries
Income Statement [Abstract]
Sales	585.8	605.2	1,202.8	1,164.6
Cost of sales	505.9	489.5	1,015.7	954.7
Selling and administrative expenses	41.6	34.5	67.2	65
Income (loss) before interest, other income and income taxes	38.3	81.2	119.9	144.9
Interest income (expense), net	14.3	11.3	27.8	21.3
Other income (loss) including equity in income of unconsolidated subsidiaries	0.5	0.8	1.1	1.4
Income (loss) from continuing operations before income tax provision (benefit)	53.1	93.3	148.8	167.6
Income tax provision (benefit)	22.3	38.6	56.4	65
Loss from continuing operations	30.8	54.7	92.4	102.6
Income (loss) from discontinued operations, net of tax	0	(0.2)	0	(2.1)
Net income (loss)	30.8	54.5	92.4	100.5
Less: Net income attributable to noncontrolling interests	2.5	3.3	5.1	5.4
Net income (loss) attributable to ATI	28.3	51.2	87.3	95.1
Comprehensive income (loss) attributable to ATI	47.4	60.2	85.2	102.7
Consolidation Eliminations
Income Statement [Abstract]
Sales	0	0	0	0
Cost of sales	0	0	0	0
Selling and administrative expenses	0	0	0	0
Income (loss) before interest, other income and income taxes	0	0	0	0
Interest income (expense), net	0	0	0	0
Other income (loss) including equity in income of unconsolidated subsidiaries	(39.1)	(60.6)	(115.8)	(102.8)
Income (loss) from continuing operations before income tax provision (benefit)	(39.1)	(60.6)	(115.8)	(102.8)
Income tax provision (benefit)	(17.7)	(26.8)	(45.2)	(41.9)
Loss from continuing operations	(21.4)	(33.8)	(70.6)	(60.9)
Income (loss) from discontinued operations, net of tax	0	0.2	0	2.1
Net income (loss)	(21.4)	(33.6)	(70.6)	(58.8)
Less: Net income attributable to noncontrolling interests	0	0	0	0
Net income (loss) attributable to ATI	(21.4)	(33.6)	(70.6)	(58.8)
Comprehensive income (loss) attributable to ATI	$ (44)	$ (43.6)	$ (75.1)	$ (67.5)

Financial Information for Sub52

Financial Information for Subsidiary and Guarantor Parent (Cash Flow) (Details) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014
Statement of Cash Flows
Cash flows provided by (used in) operating activities	$ 91.5	$ (37.5)
Investing Activities:
Purchases of property, plant and equipment	(63.3)	(97.9)
Purchases of businesses, net of cash acquired	(0.5)	(92.5)
Net receipts/(payments) on intercompany activity	0	0
Asset disposals and other	0	2.1
Cash used in investing activities	(63.8)	(188.3)
Financing Activities:
Payments on long-term debt and capital leases	(6.3)	(403.4)
Net receipts/(payments) on intercompany activity	0	0
Dividends paid to stockholders	(38.6)	(38.6)
Other	(7.7)	(3.9)
Cash used in financing activities	(46.3)	(445.9)
Decrease in cash and cash equivalents	(18.6)	(671.7)
Parent Company
Statement of Cash Flows
Cash flows provided by (used in) operating activities	(38)	(45.6)
Investing Activities:
Purchases of property, plant and equipment	0	0
Purchases of businesses, net of cash acquired	0	0
Net receipts/(payments) on intercompany activity	0	0
Asset disposals and other	0	0
Cash used in investing activities	0	0
Financing Activities:
Payments on long-term debt and capital leases		(397.7)
Net receipts/(payments) on intercompany activity	81.3	486.8
Dividends paid to stockholders	(38.6)	(38.6)
Other	(1.7)	(3.9)
Cash used in financing activities	41	46.6
Decrease in cash and cash equivalents	3	1
Subsidiaries
Statement of Cash Flows
Cash flows provided by (used in) operating activities	(98.1)	(196.9)
Investing Activities:
Purchases of property, plant and equipment	(26)	(72.4)
Purchases of businesses, net of cash acquired	0	0
Net receipts/(payments) on intercompany activity	0	0
Asset disposals and other	0.2	1.5
Cash used in investing activities	(25.8)	(70.9)
Financing Activities:
Payments on long-term debt and capital leases		0
Net receipts/(payments) on intercompany activity	125.1	279.7
Dividends paid to stockholders	0	0
Other	(0.1)	0
Cash used in financing activities	125	279.7
Decrease in cash and cash equivalents	1.1	11.9
NonGuarantor Subsidiaries
Statement of Cash Flows
Cash flows provided by (used in) operating activities	227.6	205
Investing Activities:
Purchases of property, plant and equipment	(37.3)	(25.5)
Purchases of businesses, net of cash acquired	(0.5)	(92.5)
Net receipts/(payments) on intercompany activity	(206.4)	(766.5)
Asset disposals and other	(0.2)	0.6
Cash used in investing activities	(244.4)	(883.9)
Financing Activities:
Payments on long-term debt and capital leases		(5.7)
Net receipts/(payments) on intercompany activity	0	0
Dividends paid to stockholders	0	0
Other	(5.9)	0
Cash used in financing activities	(5.9)	(5.7)
Decrease in cash and cash equivalents	(22.7)	(684.6)
Consolidation Eliminations
Statement of Cash Flows
Cash flows provided by (used in) operating activities	0	0
Investing Activities:
Purchases of property, plant and equipment	0	0
Purchases of businesses, net of cash acquired	0	0
Net receipts/(payments) on intercompany activity	206.4	766.5
Asset disposals and other	0	0
Cash used in investing activities	206.4	766.5
Financing Activities:
Payments on long-term debt and capital leases		0
Net receipts/(payments) on intercompany activity	(206.4)	(766.5)
Dividends paid to stockholders	0	0
Other	0	0
Cash used in financing activities	(206.4)	(766.5)
Decrease in cash and cash equivalents	$ 0	$ 0

Financial Information for Sub53

Financial Information for Subsidiary and Guarantor Parent (Changes) (Details) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Dec. 31, 2014	Dec. 31, 2013
Condensed Financial Statements, Captions [Line Items]
Current assets	$ 2,383.5		$ 2,482.1
Assets	6,469.3		6,582.6
Current liabilities	888		959.9
Liabilities	3,756.5		3,861.2
Stockholders' equity	2,700.7	$ 2,978.6	2,709.3	$ 2,994.7
Cash flows provided by (used in) operating activities	91.5	(37.5)
Net Cash Provided by (Used in) Investing Activities	(63.8)	(188.3)
Cash used in financing activities	(46.3)	(445.9)
NonGuarantor Subsidiaries
Condensed Financial Statements, Captions [Line Items]
Current assets	4,305.4		4,183.1
Assets	6,858.8		6,758
Current liabilities	449.7		471.1
Liabilities	817.6		855.9
Stockholders' equity	6,029.1		5,890
Cash flows provided by (used in) operating activities	227.6	205
Net Cash Provided by (Used in) Investing Activities	(244.4)	(883.9)
Cash used in financing activities	(5.9)	(5.7)
Subsidiaries
Condensed Financial Statements, Captions [Line Items]
Current assets	581.3		623.8
Assets	2,326		2,361.2
Current liabilities	1,564.9		1,532.3
Liabilities	2,088.9		2,064.1
Stockholders' equity	237.1		297.1
Cash flows provided by (used in) operating activities	(98.1)	(196.9)
Net Cash Provided by (Used in) Investing Activities	(25.8)	(70.9)
Cash used in financing activities	125	279.7
Parent Company
Condensed Financial Statements, Captions [Line Items]
Current assets	12.3		66
Assets	6,266.2		6,241.3
Current liabilities	1,388.9		1,347.3
Liabilities	3,565.5		3,532
Stockholders' equity	2,700.7		2,709.3
Cash flows provided by (used in) operating activities	(38)	(45.6)
Net Cash Provided by (Used in) Investing Activities	0	0
Cash used in financing activities	41	46.6
Consolidation Eliminations
Condensed Financial Statements, Captions [Line Items]
Current assets	(2,515.5)		(2,390.8)
Assets	(8,981.7)		(8,777.9)
Current liabilities	(2,515.5)		(2,390.8)
Liabilities	(2,715.5)		(2,590.8)
Stockholders' equity	(6,266.2)		$ (6,187.1)
Cash flows provided by (used in) operating activities	0	0
Net Cash Provided by (Used in) Investing Activities	206.4	766.5
Cash used in financing activities	$ (206.4)	$ (766.5)

Accumulated Other Comprehensi54

Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Millions	3 Months Ended				6 Months Ended
	Jun. 30, 2015		Jun. 30, 2014		Jun. 30, 2015		Jun. 30, 2014
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance	$ (930.8)		$ (694.3)		$ (931.4)		$ (713.2)
OCI before reclassifications	12.3		16.9		2.1		21.1
Amounts reclassified from AOCI	11.2		13.2		22		27.9
Net current-period OCI	23.5		30.1		24.1		49
Ending balance	(907.3)		(664.2)		(907.3)		(664.2)
Increase (Decrease) in Stockholders' Equity Attributable to Noncontrolling Interest [Roll Forward]
Beginning balance	24.8		25.3		25		27.1
OCI before reclassifications	0.5		(1.2)		0.3		(3)
Amounts reclassified from AOCI	0		0		0		0
Net current-period OCI	0.5		(1.2)		0.3		(3)
Ending balance	25.3		24.1		25.3		24.1
Post- retirement benefit plans [Member]
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance	(919)		(705.5)		(931.5)		(718.9)
OCI before reclassifications	0		0		0		0
Amounts reclassified from AOCI	12.5	[1]	13.5	[2]	25	[1]	26.9	[2]
Net current-period OCI	12.5		13.5		25		26.9
Ending balance	(906.5)		(692)		(906.5)		(692)
Increase (Decrease) in Stockholders' Equity Attributable to Noncontrolling Interest [Roll Forward]
Beginning balance	0		0		0		0
OCI before reclassifications	0		0		0		0
Amounts reclassified from AOCI	0		0		0		0
Net current-period OCI	0		0		0		0
Ending balance	0		0		0		0
Currency translation adjustment [Member]
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance	(37.8)		13.8		(16.2)		15.3
OCI before reclassifications	18.8		8.9		(2.8)		7.4
Amounts reclassified from AOCI	0	[3]	0	[4]	0	[3]	0	[4]
Net current-period OCI	18.8		8.9		(2.8)		7.4
Ending balance	(19)		22.7		(19)		22.7
Increase (Decrease) in Stockholders' Equity Attributable to Noncontrolling Interest [Roll Forward]
Beginning balance	24.8		25.3		25		27.1
OCI before reclassifications	0.5		(1.2)		0.3		(3)
Amounts reclassified from AOCI	0	[3]	0	[4]	0	[3]	0	[4]
Net current-period OCI	0.5		(1.2)		0.3		(3)
Ending balance	25.3		24.1		25.3		24.1
Unrealized holding gains on securities [Member]
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance	0		0		0		0
OCI before reclassifications	(0.1)		0.1		(0.1)		0.1
Amounts reclassified from AOCI	0	[3]	0	[4]	0	[3]	0	[4]
Net current-period OCI	(0.1)		0.1		(0.1)		0.1
Ending balance	(0.1)		0.1		(0.1)		0.1
Increase (Decrease) in Stockholders' Equity Attributable to Noncontrolling Interest [Roll Forward]
Beginning balance	0		0		0		0
OCI before reclassifications	0		0		0		0
Amounts reclassified from AOCI	0		0		0		0
Net current-period OCI	0		0		0		0
Ending balance	0		0		0		0
Derivatives [Member]
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance	26		(2.6)		16.3		(9.6)
OCI before reclassifications	(6.4)		7.9		5		13.6
Amounts reclassified from AOCI	(1.3)	[5]	(0.3)	[6]	(3)	[5]	1	[6]
Net current-period OCI	(7.7)		7.6		2		14.6
Ending balance	18.3		5		18.3		5
Increase (Decrease) in Stockholders' Equity Attributable to Noncontrolling Interest [Roll Forward]
Beginning balance	0		0		0		0
OCI before reclassifications	0		0		0		0
Amounts reclassified from AOCI	0		0		0		0
Net current-period OCI	0		0		0		0
Ending balance	$ 0		$ 0		$ 0		$ 0
[1]	Amounts were included in net periodic benefit cost for pension and other postretirement benefit plans (see Note 7).
[2]	Amounts were included in net periodic benefit cost for pension and other postretirement benefit plans (see Note 7).
[3]	No amounts were reclassified to earnings.
[4]	No amounts were reclassified to earnings.
[5]	Amounts are included in cost of goods sold in the period or periods the hedged item affects earnings (see Note 5).
[6]	Amounts are included in cost of goods sold in the period or periods the hedged item affects earnings (see Note 5).

Accumulated Other Comprehensi55

Accumulated Other Comprehensive Income (Loss) (Details 2) - USD ($) $ in Millions		3 Months Ended		6 Months Ended
		Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Amortization to net loss of net prior service cost (credits)		$ 1.5	$ (0.1)	$ 3	$ (0.3)
Amount reclassified from AOCI, Postretirement benefit plans, Actuarial losses		18.7	22	37.4	44
Income (loss) from continuing operations before income tax provision (benefit)		(21.6)	(3.4)	(1)	(29.4)
Income tax provision (benefit)		(7.7)	(2.9)	0.3	(12.9)
Loss from continuing operations		(13.9)	(0.5)	(1.3)	(16.5)
Amount reclassified from AOCI, Gain (loss) on derivatives		(945.5)	(1,029.5)	(1,961.5)	(1,946.6)
Reclassification out of Accumulated Other Comprehensive Income [Member] | Post- retirement benefit plans [Member]
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Amortization to net loss of net prior service cost (credits)	[1]	(1.5)	0.1	(3)	0.3
Amount reclassified from AOCI, Postretirement benefit plans, Actuarial losses	[1]	(18.7)	(22)	(37.4)	(44)
Income (loss) from continuing operations before income tax provision (benefit)	[2]	(20.2)	(21.9)	(40.4)	(43.7)
Income tax provision (benefit)		(7.7)	(8.4)	(15.4)	(16.8)
Loss from continuing operations		(12.5)	(13.5)	(25)	(26.9)
Reclassification out of Accumulated Other Comprehensive Income [Member] | Derivatives [Member]
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Income (loss) from continuing operations before income tax provision (benefit)	[2]	2.1	0.5	4.8	(1.6)
Income tax provision (benefit)		0.8	0.2	1.8	(0.6)
Loss from continuing operations		1.3	0.3	3	(1)
Reclassification out of Accumulated Other Comprehensive Income [Member] | Derivatives [Member] | Nickel and other raw material contracts
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Amount reclassified from AOCI, Gain (loss) on derivatives	[3]	(3.9)	1.5	(7.5)	(1.3)
Reclassification out of Accumulated Other Comprehensive Income [Member] | Derivatives [Member] | Natural gas contracts
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Amount reclassified from AOCI, Gain (loss) on derivatives	[3]	(3.9)	1.6	(7.8)	3.9
Reclassification out of Accumulated Other Comprehensive Income [Member] | Derivatives [Member] | Electricity contracts
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Amount reclassified from AOCI, Gain (loss) on derivatives	[3]	0	0.1	(0.2)	0.8
Reclassification out of Accumulated Other Comprehensive Income [Member] | Derivatives [Member] | Foreign exchange contracts
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Amount reclassified from AOCI, Gain (loss) on derivatives	[3]	$ 9.9	$ (2.7)	$ 20.3	$ (5)
[1]	Amounts are included in the computation of pension and other postretirement benefit expense, which is reported in both cost of goods sold and selling and administrative expenses. For additional information, see Note 7.
[2]	For pretax items, positive amounts are income and negative amounts are expense in terms of the impact to net income. Tax effects are presented in conformity with ATI’s presentation in the consolidated statements of operations.
[3]	Amounts are included in cost of goods sold in the period or periods the hedged item affects earnings. For additional information, see Note 5.

Commitments and Contingencies (

Commitments and Contingencies (Details) $ in Millions	Jun. 30, 2015USD ($)
Components of Environmental Loss Accrual [Abstract]
Accrual For Environmental Loss Contingencies	$ 17
Accrued Environmental Loss Contingencies Current	10
Federal Superfund and comparable state-managed sites	5
Formerly owned or operated sites	10
Owned or controlled sites at which Company operations have been discontinued	1
Sites utilized by the company in its ongoing operations	1
Loss Contingency, Estimate [Abstract]
Loss contingency maximum possible loss	$ 18