ATI (ATI) 8-K Other Events

Business Segment Results (dollars in millions)

	For the three months ended
	March 31, 2019			June 30, 2019			September 30, 2019			December 31, 2019
Sales:
High Performance Materials & Components	$	496.6		$	533.1		$	451.8		$	497.0
Advanced Alloys & Solutions	508.2			547.3			566.9			521.6
Total sales	$	1,004.8		$	1,080.4		$	1,018.7		$	1,018.6
Operating profit:
High Performance Materials & Components	$	51.7		$	78.4		$	68.4		$	73.1
% of sales	10.4		%	14.7		%	15.1		%	14.7		%
Advanced Alloys & Solutions	10.0			36.1			30.8			32.2
% of sales	2.0		%	6.6		%	5.4		%	6.2		%
Total operating profit	61.7			114.5			99.2			105.3
% of sales	6.1		%	10.6		%	9.7		%	10.3		%
LIFO and net realizable value reserves	(0.1		)	—			—			—
Corporate expenses	(16.6		)	(18.0		)	(16.0		)	(16.2		)
Closed operations and other expenses	(3.1		)	(7.9		)	(8.2		)	(6.3		)
Restructuring and other charges	—			—			—			(4.5		)
Debt extinguishment charge	—			—			—			(21.6		)
Joint venture impairment reserve	—			—			—			(11.4		)
Gain on asset sales, net	—			21.6			68.2			—
Interest expense, net	(24.8		)	(25.9		)	(24.2		)	(24.1		)
Income before income taxes	$	17.1		$	84.3		$	119.0		$	21.2

	For the fiscal year ended December 31,
	2019			2018			2017			2016			2015
Sales:
High Performance Materials & Components	$	1,978.5		$	1,963.1		$	1,704.8		$	1,547.8		$	1,585.2
Advanced Alloys & Solutions	2,144.0			2,083.5			1,820.3			1,586.8			2,134.4
Total sales	$	4,122.5		$	4,046.6		$	3,525.1		$	3,134.6		$	3,719.6
Operating profit (loss):
High Performance Materials & Components	$	271.6		$	269.7		$	191.4		$	122.4		$	96.8
% of sales	13.7		%	13.7		%	11.2		%	7.9		%	6.1		%
Advanced Alloys & Solutions	109.1			143.5			92.0			(116.7		)	(181.6		)
% of sales	5.1		%	6.9		%	5.1		%	(7.4		)%	(8.5		)%
Total operating profit (loss)	380.7			413.2			283.4			5.7			(84.8		)
% of sales	9.2		%	10.2		%	8.0		%	0.2		%	(2.3		)%
LIFO and net realizable value reserves	(0.1		)	(0.7		)	(0.2		)	0.8			0.1
Corporate expenses	(66.8		)	(58.1		)	(50.5		)	(43.4		)	(44.7		)
Closed operations and other expenses	(25.5		)	(21.6		)	(34.0		)	(34.6		)	(22.1		)
Restructuring and other charges	(4.5		)	—			—			(538.5		)	(89.7		)
Impairment of goodwill	—			—			(114.4		)	—			(126.6		)
Debt extinguishment charge	(21.6		)	—			(37.0		)	—			—
Gain on joint venture deconsolidation	—			15.9			—			—			—
Joint venture impairment reserve	(11.4		)	—			—			—			—
Gain on asset sales, net	89.8			—			—			—			—
Interest expense, net	(99.0		)	(101.0		)	(133.8		)	(124.0		)	(110.2		)
Income (loss) before income taxes	$	241.6		$	247.7		$	(86.5	)	$	(734.0	)	$	(478.0	)

Revenue by Market (dollars in millions)

	For the fiscal year ended December 31, 2019
	AAS				HPMC				Total
Market
Aerospace & Defense:
Jet Engines	$	100.8	5	%	$	1,037.3	52	%	$	1,138.1	28	%
Airframes	249.5		12	%	365.7		19	%	615.2		15	%
Government Aerospace & Defense	156.0		7	%	221.1		11	%	377.1		9	%
Total Aerospace & Defense	$	506.3	24	%	$	1,624.1	82	%	$	2,130.4	52	%
Oil & Gas	464.5		22	%	46.1		2	%	510.6		12	%
Automotive	286.1		13	%	10.5		1	%	296.6		7	%
Energy	178.8		8	%	107.5		6	%	286.3		7	%
Food Equipment & Appliances	205.5		9	%	0.3		—	%	205.8		5	%
Construction/Mining	152.5		7	%	42.5		2	%	195.0		5	%
Medical	87.0		4	%	85.4		4	%	172.4		4	%
Electronics/Computers/Communications	162.7		8	%	0.5		—	%	163.2		4	%
Other	100.6		5	%	61.6		3	%	162.2		4	%
Total	$	2,144.0	100	%	$	1,978.5	100	%	$	4,122.5	100	%

	For the fiscal year ended December 31, 2018
	AAS				HPMC				Total
Market
Aerospace & Defense:
Jet Engines	$	76.1	4	%	$	1,075.3	55	%	$	1,151.4	29	%
Airframes	230.1		11	%	306.9		16	%	537.0		13	%
Government Aerospace & Defense	96.4		5	%	180.7		9	%	277.1		7	%
Total Aerospace & Defense	$	402.6	20	%	$	1,562.9	80	%	$	1,965.5	49	%
Oil & Gas	493.9		24	%	52.3		3	%	546.2		13	%
Automotive	313.9		15	%	9.5		—	%	323.4		8	%
Energy	152.9		7	%	81.6		4	%	234.5		6	%
Food Equipment & Appliances	244.5		12	%	0.4		—	%	244.9		6	%
Construction/Mining	153.3		7	%	72.7		4	%	226.0		6	%
Medical	77.1		4	%	106.0		5	%	183.1		4	%
Electronics/Computers/Communications	155.4		7	%	1.5		—	%	156.9		4	%
Other	89.9		4	%	76.2		4	%	166.1		4	%
Total	$	2,083.5	100	%	$	1,963.1	100	%	$	4,046.6	100	%

	For the fiscal year ended December 31, 2017
	AAS				HPMC				Total
Market
Aerospace & Defense:
Jet Engines	$	59.9	3	%	$	896.0	53	%	$	955.9	27	%
Airframes	186.7		10	%	295.6		17	%	482.3		14	%
Government Aerospace & Defense	94.5		5	%	185.4		11	%	279.9		8	%
Total Aerospace & Defense	$	341.1	18	%	$	1,377.0	81	%	$	1,718.1	49	%
Oil & Gas	368.0		20	%	50.2		3	%	418.2		12	%
Automotive	264.9		15	%	8.8		—	%	273.7		8	%
Energy	122.7		7	%	69.5		4	%	192.2		5	%
Food Equipment & Appliances	225.6		12	%	0.4		—	%	226.0		6	%
Construction/Mining	141.7		8	%	51.2		3	%	192.9		6	%
Medical	101.9		6	%	81.1		5	%	183.0		5	%
Electronics/Computers/Communications	150.6		8	%	1.0		—	%	151.6		4	%
Other	103.8		6	%	65.6		4	%	169.4		5	%
Total	$	1,820.3	100	%	$	1,704.8	100	%	$	3,525.1	100	%