Park Ohio Industries 10-K 15 Mar 21 2020 FY Annual report Financial data

Cover

Cover - USD ($)	12 Months Ended
	Dec. 31, 2020	Feb. 26, 2021	Jun. 30, 2020
Cover [Abstract]
Document Type	10-K
Document Annual Report	true
Document Period End Date	Dec. 31, 2020
Current Fiscal Year End Date	--12-31
Document Transition Report	false
Entity File Number	333-43005-01
Entity Incorporation, State or Country Code	OH
Entity Tax Identification Number	34-6520107
Entity Address, Address Line One	6065 Parkland Boulevard,
Entity Address, City or Town	Cleveland,
Entity Address, State or Province	OH
Entity Address, Postal Zip Code	44124
City Area Code	440
Local Phone Number	947-2000
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	Yes
Entity Current Reporting Status	No
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
ICFR Auditor Attestation Flag	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		100
Entity Public Float			$ 0
Entity Registrant Name	PARK OHIO INDUSTRIES INC/OH
Entity Central Index Key	0001068148
Amendment Flag	false
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	FY

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Current assets:
Cash and cash equivalents	$ 44.8	$ 46.7
Accounts receivable, net	248.1	261.3
Inventories, net	310.9	327.2
Receivables from affiliates	25.8	24.1
Contract assets	56.9	61.7
Other current assets	35.3	19.1
Total current assets	721.8	740.1
Property, plant and equipment, net	239.1	240.1
Operating lease right-of-use assets	68.6	64.3
Goodwill	110.9	108.4
Intangible assets, net	86.8	90.6
Pension assets	74.8	65
Other long-term assets	15.3	18.8
Total assets	1,317.3	1,327.3
Current liabilities:
Trade accounts payable	166.7	175
Payables to affiliates	7.2	7.1
Current portion of long-term debt and short-term debt	11.6	16.8
Current portion of operating lease liabilities	12.9	11.9
Accrued employee compensation	28.1	25.7
Deferred revenue	37.4	35.7
Other accrued expenses	50.7	40.1
Total current liabilities	314.6	312.3
Long-term liabilities, less current portion:
Long-term debt	517.8	545.2
Long-term operating lease liabilities	56.7	53.6
Deferred income taxes	36.8	29.9
Other long-term liabilities	24.4	28.5
Total long-term liabilities	635.7	657.2
Park-Ohio Industries, Inc. and Subsidiaries shareholder's equity:
Common stock, par value $1 per share	0	0
Additional paid-in capital	133.4	127.3
Retained earnings	237.9	253.4
Accumulated other comprehensive loss	(18.1)	(37)
Total Park-Ohio Industries, Inc. and Subsidiaries shareholder's equity	353.2	343.7
Noncontrolling interests	13.8	14.1
Total equity	367	357.8
Total liabilities and shareholder's equity	$ 1,317.3	$ 1,327.3

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - $ / shares	Dec. 31, 2020	Dec. 31, 2019
Statement of Financial Position [Abstract]
Common stock, par value (in dollars per share)	$ 1	$ 1

Consolidated Statements of Oper

Consolidated Statements of Operations - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Income Statement [Abstract]
Net sales	$ 1,295.2	$ 1,618.3	$ 1,658.1
Cost of sales	1,126.6	1,358	1,386.6
Gross profit	168.6	260.3	271.5
Selling, general and administrative expenses	152.3	176.5	175.1
Gain on sale of assets	0	0	(1.9)
Operating income	16.3	83.8	98.3
Other components of pension income and other postretirement benefits expense, net	7.3	5.6	8.8
Interest expense, net	(30.4)	(33.9)	(34.4)
(Loss) income before income taxes	(6.8)	55.5	72.7
Income tax benefit (expense)	2.5	(15.4)	(16.8)
Net (loss) income	(4.3)	40.1	55.9
Net loss (income) attributable to noncontrolling interest	0.3	(1.1)	(1.6)
Net (loss) income attributable to ParkOhio common shareholder	$ (4)	$ 39	$ 54.3

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Statement of Comprehensive Income [Abstract]
Net (loss) income	$ (4.3)	$ 40.1	$ 55.9
Other comprehensive income (loss):
Currency translation	14.1	(1.1)	(9.7)
Pensions and other postretirement benefits, net of tax	4.8	5	(13.3)
Total other comprehensive income (loss)	18.9	3.9	(23)
Total comprehensive income, net of tax	14.6	44	32.9
Comprehensive loss (income) attributable to noncontrolling interest	0.3	(1.1)	(1.6)
Comprehensive income attributable to ParkOhio common shareholder	$ 14.9	$ 42.9	$ 31.3

Consolidated Statements of Shar

Consolidated Statements of Shareholder's Equity - USD ($) $ in Millions	Total	Cumulative Effect, Period of Adoption, Adjustment	Common Stock	Additional Paid-In Capital	Retained Earnings (Deficit)	Retained Earnings (Deficit)Cumulative Effect, Period of Adoption, Adjustment	Accumulated Other Comprehensive (Loss) Income	Noncontrolling Interest
Beginning balance at Dec. 31, 2017	$ 292	$ 2.6	$ 0	$ 114.9	$ 182.9	$ 2.6	$ (17.9)	$ 12.1
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Other comprehensive income (loss)	32.9				54.3		(23)	1.6
Stock-based compensation	8.3			8.3
Dividend paid to parent	(18)				(18)
Ending balance at Dec. 31, 2018	317.9		0	123.2	221.9		(40.9)	13.7
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Other comprehensive income (loss)	44				39		3.9	1.1
Stock-based compensation	4.1			4.1
Dividend paid to parent	(7.5)				(7.5)
Dividends	(0.7)							(0.7)
Ending balance at Dec. 31, 2019	357.8		0	127.3	253.4		(37)	14.1
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Other comprehensive income (loss)	14.6				(4)		18.9	(0.3)
Stock-based compensation	6.1			6.1
Dividend paid to parent	(11.5)				(11.5)
Ending balance at Dec. 31, 2020	$ 367		$ 0	$ 133.4	$ 237.9		$ (18.1)	$ 13.8

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
OPERATING ACTIVITIES
Net (loss) income	$ (4.3)	$ 40.1	$ 55.9
Adjustments to reconcile net (loss) income to net cash provided by operating activities:
Depreciation and amortization	35.8	34.1	36.2
Stock-based compensation	6.1	4.1	8.3
Gain on sale of assets	0	0	(1.9)
Deferred income taxes	6.2	1.4	0.6
Net impact of Tax Cuts and Jobs Act	0	0	0.3
Changes in operating assets and liabilities:
Accounts receivable	16.7	6.5	(11.9)
Inventories	18.5	(7.2)	(29.4)
Prepaid and other current assets	(8.4)	3.8	(9.8)
Accounts payable and accrued expenses	0.4	(15.2)	15.7
Other	(3)	(6.7)	(12.3)
Net cash provided by operating activities	68	60.9	51.7
INVESTING ACTIVITIES
Purchases of property, plant and equipment	(26.3)	(40.1)	(45)
Proceeds from sale of assets	1.4	0	2.8
Business acquisitions, net of cash acquired	0	(8.1)	(46.9)
Net cash used by investing activities	(24.9)	(48.2)	(89.1)
FINANCING ACTIVITIES
(Payments on) proceeds from revolving credit facility, net	(29.3)	7.8	40.3
Payments on term loans and other debt	(13)	(10.3)	(15.5)
Proceeds from other long-term debt	5.5	1.4	4
Proceeds from (payments on) finance lease facilities, net	1.4	(3.4)	(0.9)
Dividend paid to parent	(11.5)	(7.5)	(18)
Dividends	0	(0.7)	0
Net cash (used) provided by financing activities	(46.9)	(12.7)	9.9
Effect of exchange rate changes on cash	1.9	0.1	(2.1)
(Decrease) increase in cash and cash equivalents	(1.9)	0.1	(29.6)
Cash and cash equivalents at beginning of year	46.7	46.6	76.2
Cash and cash equivalents at end of year	44.8	46.7	46.6
Income taxes paid	5.5	12.3	21
Interest paid	$ 28.3	$ 31.5	$ 33

Summary of Significant Accounti

Summary of Significant Accounting Policies	12 Months Ended
	Dec. 31, 2020
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	Summary of Significant Accounting Policies Consolidation and Basis of Presentation: Park-Ohio Industries, Inc. (“ParkOhio,” “we” or the “Company”) is a diversified international company providing world-class customers with a supply chain management outsourcing service, capital equipment used on their production lines, and manufactured components used to assemble their products. The Company operates three reportable segments: Supply Technologies, Assembly Components and Engineered Products. The consolidated financial statements include the accounts of the Company and all of its majority-owned subsidiaries. All intercompany accounts and transactions have been eliminated in consolidation. The Company does not have off-balance sheet arrangements or financings with unconsolidated entities or other persons, other than the letters of credits disclosed in Note 8. The Company leases certain real properties owned by related parties as described in Note 12. Transactions with related parties are not material to the Company’s financial position, results of operations or cash flows. Accounting Estimates: The preparation of financial statements in conformity with accounting principles generally accepted in the United States requires management to make estimates and assumptions that affect the reported amounts in the consolidated financial statements. Actual results could differ from those estimates. Cash Equivalents: The Company considers all highly liquid investments with an original maturity of three months or less when purchased to be cash equivalents. Accounts Receivable and Allowance for Doubtful Accounts: Accounts receivable are recorded at net realizable value. Accounts receivable are reduced by an allowance for amounts that may become uncollectible in the future. The allowance for doubtful accounts was $5.5 million and $4.9 million at December 31, 2020 and 2019, respectively. The Company’s policy is to measure expected credit losses on accounts receivable based on historical experience, current conditions and reasonable forecasts. During 2020 and 2019, we sold, without recourse, $74.1 million and $112.7 million, respectively, of accounts receivable to mitigate accounts receivable concentration risk and to increase working capital efficiency. Sales of accounts receivable are reflected as a reduction of accounts receivable in the Consolidated Balance Sheets, and the proceeds are included in cash flows from operating activities in the Consolidated Statements of Cash Flows. Expense in the amount of $0.4 million and $1.1 million in 2020 and 2019, respectively, related to the discount on sale of accounts receivable is recorded in the Consolidated Statements of Operations. Inventories: Inventories are valued using first-in, first-out (“FIFO”) or the weighted-average inventory method and stated at the lower of cost or net realizable value, except for the inventories at Canton Drop Forge (“CDF”). CDF inventories are stated using the last-in, first-out (“LIFO”) method. Major Classes of Inventories December 31, 2020 December 31, 2019 Raw materials and supplies $ 93.8 $ 92.6 Work in process 42.3 51.3 Finished goods 172.8 181.3 LIFO reserve 2.0 2.0 Inventories, net $ 310.9 $ 327.2 Other Inventory Items Inventory reserves $ (39.3) $ (34.2) Consigned inventory $ 13.4 $ 8.2 Property, Plant and Equipment: Property, plant and equipment is carried at cost. Additions and improvements that extend the lives of assets are capitalized, and expenditures for repairs and maintenance are charged to operations as incurred. Depreciation of fixed assets, including amounts capitalized under finance leases, is computed by the straight-line method based on the estimated useful lives of the assets ranging from five one three The following table summarizes property, plant and equipment: December 31, December 31, Land and land improvements $ 12.6 $ 12.0 Buildings 89.8 86.9 Machinery and equipment 440.2 424.0 Leased property under finance leases 44.8 39.2 Total property, plant and equipment 587.4 562.1 Less: Accumulated depreciation 348.3 322.0 Property, plant and equipment, net $ 239.1 $ 240.1 Year Ended December 31, 2020 2019 2018 Depreciation expense $ 29.6 $ 27.6 $ 29.3 Goodwill and Indefinite-Lived Assets: In accordance with Accounting Standards Codification (“ASC”) 350,“Intangibles — Goodwill and Other” (“ASC 350”), goodwill and indefinite life intangible assets are not amortized but rather are tested annually for impairment as of October 1, or whenever events or changes in circumstances indicate there may be an indicator of impairment in accordance with ASC 350 . Goodwill is tested for impairment at the reporting unit level and is based on the net assets of each reporting unit, including goodwill and intangible assets, compared to its fair value. Our reporting units have been identified one level below the operating segment level. The Company completed its annual goodwill and indefinite-lived intangibles impairment testing as of October 1 of each year, noting no impairment. To determine fair value for goodwill testing purposes, the Company uses an income approach, utilizing a discounted cash flow model based on forecasted cash flows and weighted average cost of capital. To determine fair value for indefinite-lived intangibles testing, the Company uses a relief-of-royalty method. See Notes 6 and 7 for additional disclosures about goodwill and indefinite-lived intangibles. Impairment of Other Long-Lived Assets: Other long-lived assets, including operating lease right-of-use assets, are reviewed for impairment whenever events or changes in circumstances indicate the carrying amount may not be recoverable. Upon indications of impairment, assets and liabilities are grouped at the lowest level for which identifiable cash flows are largely independent of the cash flows of other assets and liabilities. The asset group would be considered impaired if the estimated future net undiscounted cash flows generated by the asset group are less than its carrying value. Impairment losses are measured by comparing the estimated fair value of the asset group to its carrying value. Fair Values of Financial Instruments: Certain financial instruments are required to be recorded at fair value. The Company measures financial assets and liabilities at fair value in three levels of inputs. The three-tier fair value hierarchy, which prioritizes the inputs used in the valuation methodologies, is as follows: Level 1 — Valuations based on quoted prices for identical assets and liabilities in active markets. Level 2 — Valuations based on 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 — Valuations based on unobservable inputs reflecting our own assumptions, consistent with reasonably available assumptions made by other market participants. These valuations require significant judgment. Changes in assumptions or estimation methods could affect the fair value estimates; however, we do not believe any such changes would have a material impact on our financial condition, results of operations or cash flows. The carrying value of cash and cash equivalents, accounts receivable, accounts payable and borrowings under the Credit Agreement (as defined in Note 8) approximate fair value at December 31, 2020 and December 31, 2019 because of the short-term nature of these instruments. The fair values of long-term debt and pension plan assets are disclosed in Note 8 and Note 13, respectively. The Company has not changed its valuation techniques for measuring fair value during 2020, and there were no transfers between levels during the periods presented. Pension and Other Postretirement Benefits: We account for our pensions and other post-retirement benefits in accordance with ASC Topic 715, "Compensation — Retirement Benefits." Net actuarial gains and losses are amortized to expense when they exceed the 10% accounting corridor, based on the greater of the plan assets or benefit obligations, over an average employee future service period. Refer to Note 13 for more information. Income Taxes: The Company accounts for income taxes under the asset and liability method, whereby deferred tax assets and liabilities are determined based on temporary differences between the financial reporting and the tax bases of assets and liabilities and are measured using the current enacted tax rates. In determining these amounts, management determined the probability of realizing deferred tax assets, taking into consideration factors including historical operating results, cumulative earnings and losses, expectations of future earnings, taxable income and the extended period of time over which the postretirement benefits will be paid. As required by ASC 740, “Income Taxes” (“ASC 740”), the Company records valuation allowances if, based on the weight of available evidence, it is more likely than not that all or some portion of our deferred tax assets will not be realized. We have elected to account for global intangible low-taxed income (“GILTI”) as a current period expense. The impact of GILTI at December 31, 2020 and 2019 was an increase in tax expense of $1.8 million and $1.9 million, respectively. The impact of FDII at December 31, 2020 and 2019 was a decrease in tax expense of $0.0 million and $0.8 million, respectively. Revenue Recognition: The Company recognizes revenue, other than from long-term contracts within the Engineered Products segment, when its obligations under the contract terms are satisfied and control transfers to the customer, typically upon shipment. Revenue from certain long-term contracts is accounted for over time, as products are manufactured or services are performed, as control transfers over time under these arrangements. We follow this method since reasonably reliable estimates of revenue and costs of a contract can be made. See Note 2 for additional disclosure on revenue. Cost of Sales : Cost of sales is primarily comprised of direct materials and supplies consumed in the manufacture of product; manufacturing labor, depreciation expense and direct overhead expense; and shipping and handling costs. Concentration of Credit Risk: The Company sells its products to customers in diversified industries. The Company performs ongoing credit evaluations of its customers’ financial condition but does not require collateral to support customer receivables. The Company establishes an allowance for doubtful accounts based upon factors surrounding the credit risk of specific customers, historical trends, current conditions and reasonable forecasts. As of December 31, 2020, the Company had uncollateralized receivables with six customers in the automotive industry, each with several locations, aggregating $40.6 million, which represented approximately 16% of the Company’s trade accounts receivable. During 2020, sales to these customers amounted to approximately $228.2 million, which represented approximately 18% of the Company’s net sales. Environmental: The Company expenses environmental costs related to existing conditions resulting from past or current operations and from which no current or future benefit is discernible. Costs that extend the life of the related property or mitigate or prevent future environmental contamination are capitalized. The Company records a liability when environmental assessments and/or remedial efforts are probable and can be reasonably estimated. The estimated liability of the Company is not reduced for possible recoveries from insurance carriers and is undiscounted. Foreign Currency Translation: The functional currency of the Company's subsidiaries outside the United States is the local currency. Financial statements are translated into U.S. dollars at year-end exchange rates for assets and liabilities and weighted-average exchange rates during the period for revenues and expenses. The resulting translation adjustments are recorded in Accumulated other comprehensive loss in the Consolidated Balance Sheets. Gains and losses resulting from foreign currency transactions, including intercompany transactions that are not considered long-term investments, are included in the Consolidated Statements of Operations. Warranties: The Company estimates the amount of warranty claims on sold products that may be incurred based on current and historical data. The actual warranty expense could differ from the estimates made by the Company based on product performance. The following table presents the changes in the Company’s product warranty liability: Year Ended December 31, 2020 2019 2018 Balance at January 1 $ 6.4 $ 6.2 $ 7.9 Claims paid during the year (2.5) (4.1) (5.3) Warranty expense 2.5 4.3 3.6 Balance at December 31 $ 6.4 $ 6.4 $ 6.2 Accounting Standards Adopted In June 2016, the FASB issued ASU 2016-13, “Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses of Financial Instruments,” which replaced the current incurred loss impairment model with a methodology that reflected expected credit losses. Under the new methodology, entities will measure expected credit losses on financial instruments held at amortized cost, including trade receivables, based on historical experience, current conditions and reasonable forecasts. The Company adopted this standard as of January 1, 2020. The adoption of the standard had an immaterial impact on the Company. For the year ended December 31, 2020, the provision and write-offs was not material, and the allowance approximated $5.5 million as of December 31, 2020. In December 2019, the FASB issued ASU 2019-12, “Income Taxes (ASC 740) - Simplifying the Accounting for Income Taxes,” which simplifies the accounting for income taxes by removing certain exceptions to the general principles in ASC 740. The amendments also improve consistent application of and simplify U.S. GAAP for other areas of ASC 740 by clarifying and amending existing guidance. The Company adopted this standard as of April 1, 2020. The adoption of the standard had an immaterial impact on the Company's tax provision. Recent Accounting Standards Not Yet Adopted In March 2020, the FASB issued ASU 2020-04, “Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting,” which was issued in response to concerns about structural risks of interbank offered rates, and, particularly, the risk of cessation of the London Interbank Offered Rate. The guidance is effective upon issuance and may be adopted on any date on or after March 12, 2020. However, the relief is temporary and generally cannot be applied to contract modifications that occur after December 31, 2022 or hedging relationships entered into or evaluated after that date. The Company is currently evaluating the expected impact of this standard. No other recently issued ASUs are expected to have a material impact on our results of operations, financial condition or liquidity.

Revenue

Revenue	12 Months Ended
	Dec. 31, 2020
Revenue from Contract with Customer [Abstract]
Revenue	RevenueSubstantially all of the Company’s contracts have a single performance obligation to transfer products to or, in limited cases, perform services for the customer. Accordingly, the Company recognizes revenue when its obligations under the contract terms are satisfied and control transfers to the customer. Revenue is recognized at an amount that reflects the consideration the Company expects to receive in exchange for the good or service, including estimated provisions for rebates, discounts, returns and allowances. The Company sells its products both directly to customers, and in limited cases, through distributors, generally under agreements with payment terms between 30-90 days; the Company has no financing components. The majority of the Company’s revenue is derived from contracts (i) with an original contract length of one year or less, or (ii) for which it recognizes revenue at the amount at which it has the right to invoice as products or services are delivered. The Company has elected the practical expedient not to disclose the value of remaining performance obligations associated with these types of contacts. The Company also has certain contracts which contain performance obligations that are immaterial in the context of the contract with the customer. The Company has elected the practical expedient not to assess whether these promised goods or services are performance obligations. Supply Technologies provides our customers with Total Supply Management™, a proactive solutions approach that manages the efficiencies of every aspect of supplying production parts and materials to our customers’ manufacturing floor, from strategic planning to program implementation. Within this segment, contracts routinely consist of a long-term agreement or master service agreement with quantity and pricing specified through individual purchase orders. Revenue is recognized at a point in time, which is the shipping point, as that is when control transfers to the customer. Assembly Components designs, develops and manufactures: aluminum products; highly efficient, high pressure direct fuel injection fuel rails and pipes; fuel filler pipes that route fuel from the gas cap to the gas tank; and flexible multi-layer plastic and rubber assemblies used to transport fuel from the vehicle's gas tank and then, at extreme high pressure, to the engine's fuel injector nozzles. Within this segment, contracts routinely consist of a long-term agreement or master service agreement with quantity and pricing specified through individual purchase orders. Revenue is recognized at a point in time, which is at the shipping point, as that is when control transfers to the customer. Engineered Products operates a diverse group of niche manufacturing businesses that design and manufacture a broad range of highly-engineered products, including induction heating and melting systems, pipe threading systems and forged and machined products. Engineered Products also produces and provides services and spare parts for the equipment it manufactures. In this segment, revenue is recognized for certain revenue streams at a point in time, and over time for other revenue streams. For point in time arrangements, revenue is recognized at the shipping point, as that is when control transfers to the customer. For over time arrangements, revenue is recognized over the time during which products are manufactured or services are performed, as control transfers under these arrangements over a period of time. Over time arrangements represent 22% of the Company's total consolidated sales for the year ended December 31, 2020. The Company uses the input method to calculate the contract revenues to be recognized, which utilizes costs incurred to date in relation to total expected costs to satisfy the Company’s performance obligation under the contract. Incurred costs represent work performed and therefore best depict the transfer of control to the customer. For over time arrangements, contract liabilities relate to advances or deposits received from the Company’s customers before revenue is recognized. These amounts, which totaled $37.4 million and $35.7 million at December 31, 2020 and December 31, 2019, respectively, are recorded as Deferred revenue in the Consolidated Balance Sheets. For over time arrangements, contract assets relate to revenue recognized in advance of billings to customers under long-term contracts accounted for under percentage of completion. These amounts, which totaled $56.9 million and $61.7 million at December 31, 2020 and December 31, 2019, respectively, are recorded as Unbilled contract revenue in the Consolidated Balance Sheets. The Company has elected to account for shipping and handling as activities to fulfill the promise to transfer its products. As such, shipping and handling fees billed to customers in a sales transaction are recorded in Net sales, and shipping and handling costs incurred are recorded in Cost of sales. The Company has elected to exclude from Net sales any value-added, sales or other taxes which it collects concurrent with revenue-producing activities. We disaggregate our revenue by product line and geographic region of our customer, as we believe these criteria best depict how the nature, amount, timing and uncertainty of our revenues and cash flows are affected by economic factors. See details in the tables below. Year Ended December 31, 2020 2019 PRODUCT LINE Supply Technologies $ 444.8 $ 532.9 Engineered specialty fasteners and other products 65.3 78.6 Supply Technologies Segment 510.1 611.5 Fuel, rubber and plastic products 298.4 353.8 Aluminum products 143.1 185.7 Assembly Components Segment 441.5 539.5 Industrial equipment 238.2 323.8 Forged and machined products 105.4 143.5 Engineered Products Segment 343.6 467.3 Total revenues $ 1,295.2 $ 1,618.3 Supply Technologies Segment Assembly Components Segment Engineered Products Segment Total Revenues Year Ended December 31, 2020 GEOGRAPHIC REGION United States $ 314.0 $ 302.3 $ 179.1 $ 795.4 Europe 83.8 13.2 64.5 161.5 Asia 43.3 29.6 59.3 132.2 Mexico 55.4 35.9 9.8 101.1 Canada 9.8 59.1 19.2 88.1 Other 3.8 1.4 11.7 16.9 Total $ 510.1 $ 441.5 $ 343.6 $ 1,295.2 Year Ended December 31, 2019 GEOGRAPHIC REGION United States $ 404.5 $ 388.1 $ 271.3 $ 1,063.9 Europe 98.0 14.6 80.2 192.8 Asia 40.3 21.4 66.2 127.9 Mexico 54.7 37.3 13.8 105.8 Canada 12.2 76.7 23.9 112.8 Other 1.8 1.4 11.9 15.1 Total $ 611.5 $ 539.5 $ 467.3 $ 1,618.3

Segments

Segments	12 Months Ended
	Dec. 31, 2020
Segment Reporting [Abstract]
Segments	Segments The Company operates three reportable segments: Supply Technologies, Assembly Components and Engineered Products. For purposes of measuring business segment performance, the chief operating decision maker utilizes segment operating income, which is defined as revenues less expenses identifiable to the product lines within each segment. The Company does not allocate items that are non-operating; unusual in nature; or are corporate costs, which include but are not limited to executive compensation and corporate office costs. Segment operating income reconciles to consolidated income before income taxes by deducting corporate costs, certain non-cash and/or non-operating items; Other components of pension income and other postretirement benefits (“OPEB”) expense, net; and interest expense, net. Results by business segment were as follows: Year Ended December 31, 2020 2019 2018 Net sales: Supply Technologies $ 510.1 $ 611.5 $ 636.8 Assembly Components 441.5 539.5 578.3 Engineered Products 343.6 467.3 443.0 $ 1,295.2 $ 1,618.3 $ 1,658.1 Segment operating income: Supply Technologies $ 30.2 $ 42.0 $ 49.0 Assembly Components 8.1 36.2 42.9 Engineered Products 3.5 37.7 38.4 Total segment operating income 41.8 115.9 130.3 Corporate costs (25.5) (27.8) (33.9) One-time net expense related to former President — (4.3) — Gain on sale of assets — — 1.9 Operating income 16.3 83.8 98.3 Other components of pension income and other postretirement benefits expense, net 7.3 5.6 8.8 Interest expense, net (30.4) (33.9) (34.4) (Loss) income before income taxes $ (6.8) $ 55.5 $ 72.7 Year Ended December 31, 2020 2019 2018 Capital expenditures: Supply Technologies $ 6.5 $ 6.1 $ 5.2 Assembly Components 13.1 19.5 24.3 Engineered Products 6.5 14.3 15.4 Corporate 0.2 0.2 0.1 $ 26.3 $ 40.1 $ 45.0 Depreciation and amortization expense: Supply Technologies $ 5.1 $ 4.8 $ 5.3 Assembly Components 20.7 20.1 22.2 Engineered Products 9.6 8.8 8.4 Corporate 0.4 0.4 0.3 $ 35.8 $ 34.1 $ 36.2 Identifiable assets: Supply Technologies $ 347.6 $ 355.9 $ 330.1 Assembly Components 401.1 413.4 378.3 Engineered Products 439.7 455.1 433.1 Corporate 128.9 102.9 82.2 $ 1,317.3 $ 1,327.3 $ 1,223.7 At December 31, 2020, 2019 and 2018, approximately 70%, 71% and 68%, respectively, of the Company’s assets were located in the United States.

Plant Closure and Consolidation

Plant Closure and Consolidation	12 Months Ended
	Dec. 31, 2020
Restructuring and Related Activities [Abstract]
Plant Closure and Consolidation	Plant Closure and Consolidation During 2020, the Company recorded charges totaling $4.1 million in its Assembly Components segment in connection with commencement of actions to close and consolidate its extrusion operations in Tennessee and its fuel operations in Shanghai, China, and to complete other cost-reduction actions in this segment. The charges, which are included in Cost of sales in the Consolidated Statements of Operations, are comprised of severance and related employee costs of $1.4 million, asset impairment of $0.5 million, and other facility costs of $2.2 million. In the Engineered Products segment, the Company recorded charges in 2020 related to plant closure and consolidation, of which $1.0 million are included in Cost of sales in the Consolidated Statements of Operations and $1.2 million are included in Selling, general and administrative expenses in the Consolidated Statements of Operations.

Acquisitions

Acquisitions	12 Months Ended
	Dec. 31, 2020
Business Combinations [Abstract]
Acquisitions	Acquisitions On May 31, 2019, the Company acquired EFCO, Inc. d/b/a Erie Press Systems (“EP”). EP, which is included in the Company's Engineered Products segment, is an industry-recognized leader in the manufacturing of advanced forging presses, hydraulic and mechanical presses, and metal stretch-forming and carbon extrusion machines for several end markets, including aerospace and defense, primary metals and high-speed rail. During 2019, the Company paid $8.1 million in cash (net of $10.4 million of cash and cash equivalents acquired) for EP. In addition, the purchase agreement stipulates potential contingent consideration of up to an additional $1.0 million based on two-year cumulative earnings before interest and taxes. The estimated fair value of the contingent consideration, valued using level 3 inputs, was $0.0 million as of December 31, 2020. The Consolidated Statement of Operations for the year ended December 31, 2020 includes a credit of $1.0 million in Selling, general and administrative expenses representing the reversal of a previously-recorded liability related to this contingent consideration. On February 1, 2018, the Company acquired CDF for $35.6 million in cash for its Engineered Products segment. CDF manufactures forgings for high-performance applications in the global aerospace, oil and gas, and other markets. On October 1, 2018, the Company acquired Hydrapower Dynamics Limited (“Hydrapower”) for $7.8 million in cash for its Assembly Components segment. Headquartered in Birmingham, England, Hydrapower is a manufacturer of fluid handling systems incorporating hoses, manipulated tubes and fabricated assemblies for the bus and truck, automotive, agricultural and construction end markets. During 2018, the Company made two other acquisitions in its Supply Technologies segment totaling a cash purchase price of $3.5 million. Both acquired companies distribute products into the aerospace and defense end markets.

Goodwill

Goodwill	12 Months Ended
	Dec. 31, 2020
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill	Goodwill The changes in the carrying amount of goodwill by reportable segment are as follows: Supply Technologies Assembly Components Engineered Products Total Balance at January 1, 2019 $ 14.2 $ 56.0 $ 33.2 $ 103.4 Acquisitions and adjustments — — 5.0 5.0 Foreign currency translation 0.4 — (0.4) — Balance at December 31, 2019 14.6 56.0 37.8 108.4 Foreign currency translation 0.5 0.1 1.9 2.5 Balance at December 31, 2020 $ 15.1 $ 56.1 $ 39.7 $ 110.9

Other Intangible Assets

Other Intangible Assets	12 Months Ended
	Dec. 31, 2020
Goodwill and Intangible Assets Disclosure [Abstract]
Other Intangible Assets	Other Intangible Assets December 31, 2020 December 31, 2019 Weighted Average Remaining Useful Life (Years) Gross Value Accumulated Net Value Gross Value Accumulated Net Value Customer relationships 9.2 $ 87.5 $ 44.5 $ 43.0 $ 86.6 $ 39.6 $ 47.0 Indefinite-lived tradenames * 25.2 * 25.2 24.6 * 24.6 Technology 14.5 23.7 6.4 17.3 22.9 5.3 17.6 Other 6.7 4.9 3.6 1.3 4.8 3.4 1.4 Total $ 141.3 $ 54.5 $ 86.8 $ 138.9 $ 48.3 $ 90.6 * Not applicable, as these tradenames have an indefinite life. Amortization expense of other intangible assets as follows: Year Ended December 31, 2020 2019 2018 Amortization expense $ 6.2 $ 6.5 $ 6.9 We estimate amortization expense for the five years subsequent to 2020 as follows: 2021 $ 6.5 2022 $ 6.4 2023 $ 6.2 2024 $ 6.1 2025 $ 6.1

Financing Arrangements

Financing Arrangements	12 Months Ended
	Dec. 31, 2020
Debt Disclosure [Abstract]
Financing Arrangements	Financing Arrangements Debt consists of the following: Carrying Value at Maturity Date Interest Rate at December 31, 2020 December 31, 2020 December 31, 2019 Senior Notes due 2027 April 15, 2027 6.625 % $ 350.0 $ 350.0 Revolving credit facility November 26, 2024 1.35 % 143.7 173.2 Industrial Equipment Group European Facilities December 21, 2021 3.25 % — 4.6 Finance leases Various Various 18.7 17.2 Other Various Various 22.3 23.5 Total debt 534.7 568.5 Less: Current portion of long-term debt and short-term debt (11.6) (16.8) Less: Unamortized debt issuance costs (5.3) (6.5) Total long-term debt, net $ 517.8 $ 545.2 In June 2018, ParkOhio entered into Amendment No. 1 to Seventh Amended and Restated Credit Agreement (the “Credit Agreement”) with a group of banks to increase the revolving credit facility from $350.0 million to $375.0 million, the Canadian revolving subcommitment from $35.0 million to $40.0 million and the European revolving subcommitment from $25.0 million to $30.0 million. Furthermore, ParkOhio has the option, pursuant to the Amended Credit Agreement, to increase the availability under the revolving credit facility by an aggregate incremental amount up to $100.0 million. In November 2019, Park-Ohio entered into Amendment No. 4 to the Credit Agreement, extending the maturity of the Credit Agreement to November 26, 2024. In April 2017, ParkOhio completed the issuance, in a private placement, of $350.0 million aggregate principal amount of 6.625% Senior Notes due 2027 (the “Notes”). Interest on the Notes is payable semi-annually in arrears on April 15 and October 15 of each year, and the Notes mature on April 15, 2027. The Notes are unsecured senior obligations of ParkOhio and are guaranteed on an unsecured senior basis by the 100% owned material domestic subsidiaries of ParkOhio. On December 21, 2016, the Company, through its subsidiary, IEGE Industrial Equipment Holding Company Limited, entered into a financing agreement with Banco Bilbao Vizcaya Argentaria, S.A. The financing agreement provides the Company a loan up to $30.7 million as of December 31, 2020, as well as a revolving credit facility for up to $12.3 million to fund working capital and general corporate needs. The Company had $0.0 million outstanding on the loan as of December 31, 2020. No amounts have been drawn on the revolving credit facility as of December 31, 2020. On August 13, 2015, the Company entered into a finance lease agreement (the “Lease Agreement”). The Lease Agreement provides the Company up to $50.0 million for finance leases. Finance lease obligations of $18.7 million were borrowed under the Lease Agreement as of December 31, 2020 to acquire machinery and equipment. See Note 12 for additional disclosures about finance leases. On October 21, 2015, the Company, through its subsidiary, Southwest Steel Processing LLC, entered into a financing agreement with the Arkansas Development Finance Authority. The agreement provides the Company the ability to borrow up to $11.0 million for expansion of its manufacturing facility in Arkansas. The loan matures in September 2025. The Company has borrowed $6.9 million under this agreement as of December 31, 2020. The following table represents fair value information of the Notes, classified as Level 1, at December 31, 2020 and 2019. The fair value was estimated using quoted market prices. December 31, 2020 December 31, 2019 Carrying amount $ 350.0 $ 350.0 Fair value $ 361.8 $ 358.3 Maturities of short-term and long-term debt, excluding finance leases, during each of the five years subsequent to December 31, 2020 are as follows: 2021 $ 4.5 2022 $ 4.2 2023 $ 3.9 2024 $ 147.1 2025 $ 2.6 Foreign subsidiaries of the Company had $13.0 million of borrowings at December 31, 2020 and $16.2 million at December 31, 2019. We had outstanding bank guarantees and letters of credit of approximately $34.9 million at December 31, 2020 and $33.8 million at December 31, 2019 under our credit arrangements.

Income Taxes

Income Taxes	12 Months Ended
	Dec. 31, 2020
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes (Loss) income before income taxes consists of the following: Year Ended December 31, 2020 2019 2018 United States $ (27.2) $ 26.8 $ 36.0 Outside the United States 20.4 28.7 36.7 $ (6.8) $ 55.5 $ 72.7 Income taxes consists of the following: Year Ended December 31, 2020 2019 2018 Current (benefit) expense: Federal $ (16.5) $ 6.1 $ 6.6 State 0.4 0.7 0.6 Foreign 7.4 7.2 9.0 (8.7) 14.0 16.2 Deferred expense (benefit): Federal 6.7 1.8 1.3 State (0.2) (0.2) 0.1 Foreign (0.3) (0.2) (0.8) 6.2 1.4 0.6 Income tax (benefit) expense $ (2.5) $ 15.4 $ 16.8 The Coronavirus Aid, Relief, and Economic Security (“CARES”) Act was enacted on March 27, 2020. The CARES Act was a substantial tax-and-spending package intended to provide additional economic stimulus to address the impact of the COVID-19 pandemic. Significant impacts of the CARES Act include the ability to carry back a net operating loss five years and an increase of the Internal Revenue Code Section 163(j) interest expense disallowance limitations from 30% to 50% of adjusted taxable income. The Company has recorded a significant benefit for the impact of the net operating loss carryback, which provides for refunds related to tax years in which the U.S. tax rate was 35% versus the current U.S. tax rate of 21%. This additional tax benefit of 14% increased the 2020 tax benefit. A reconciliation of income tax (benefit) expense computed by applying the statutory federal income tax rate to income tax expense as recorded is as follows: Year Ended December 31, 2020 2019 2018 Income tax (benefit) expense at U.S. statutory rate $ (1.4) $ 11.7 $ 15.3 Effect of state income taxes, net (0.3) 0.3 0.6 Effect of foreign operations 1.5 1.9 3.5 Valuation allowance 0.6 0.6 (3.0) Uncertain tax positions (1.0) 0.1 (0.3) Non-deductible items 1.5 2.5 1.3 Equity compensation 0.6 — — CARES Act NOL carryback (5.3) — — Foreign tax credit (0.8) (1.7) (2.2) Other tax credits (0.3) (0.8) — GILTI 1.8 1.9 3.1 FDII — (0.8) (0.6) Other, net 0.6 (0.3) (0.9) Income tax (benefit) expense as recorded $ (2.5) $ 15.4 $ 16.8 Significant components of the Company’s net deferred income tax assets and liabilities are as follows: Year Ended December 31, 2020 2019 Deferred income tax assets: Postretirement benefit obligation $ 1.7 $ 1.7 Inventory 0.8 8.7 Net operating loss and credit carryforwards 16.4 11.6 Operating lease liabilities 15.4 13.8 Compensation 3.9 2.9 Disallowed interest — 4.6 Other 5.8 4.2 Total deferred income tax assets 44.0 47.5 Deferred income tax liabilities: Depreciation and amortization 20.8 21.7 Pension 16.3 13.9 Intangible assets 16.8 16.8 Lease right-of-use assets 15.2 13.5 Other 3.0 3.0 Total deferred income tax liabilities 72.1 68.9 Net deferred income tax liabilities prior to valuation allowances (28.1) (21.4) Valuation allowances (6.2) (4.8) Net deferred income tax liability $ (34.3) $ (26.2) At December 31, 2020, the Company has U.S., state and foreign net operating loss carryforwards and U.S. foreign tax credit carryforwards for income tax purposes. The foreign net operating loss carryforward is $34.7 million, of which $15.0 million expires between 2021 and 2040 and the remainder has no expiration date. The Company has a tax benefit from a state net operating loss carryforward of $3.2 million that expires between 2021 and 2040. The Company also has a non-consolidated U.S. net operating loss carryforward of $2.2 million that expires between 2036 and 2037. The foreign tax credit carryforward is $0.5 million and expires in 2029. As of December 31, 2020 and 2019, the Company was not in a cumulative three-year loss position and it was determined that it was more likely than not that its U.S. deferred tax assets will be realized. The Company reviews all valuation allowances related to deferred tax assets and will reverse these valuation allowances, partially or totally, when appropriate under ASC 740. A reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows: 2020 2019 2018 Unrecognized Tax Benefit — January 1 $ 3.7 $ 0.9 $ 1.2 Gross Increases to Tax Positions Related to Current Year — 0.5 0.1 Gross Increases to Tax Positions Related to Prior Years 0.1 2.6 — Gross Decreases to Tax Positions Related to Prior Years (0.5) — (0.1) Gross Decreases related to settlements with taxing authorities — — (0.1) Expiration of Statute of Limitations (1.2) (0.3) (0.2) Unrecognized Tax Benefit — December 31 $ 2.1 $ 3.7 $ 0.9 The total amount of unrecognized tax benefits that, if recognized, would affect the effective tax rate is $0.2 million at December 31, 2020 and $1.0 million at December 31, 2019. The Company recognizes accrued interest and penalties related to unrecognized tax benefits in income tax expense. During the years ended December 31, 2020 and 2019, the Company recognized a tax benefit of approximately $0.1 million and a tax expense of $0.1 million, respectively, in net interest and penalties due to the expiration of various uncertain tax positions. The Company had approximately $0.2 million for the payment of interest and penalties accrued at both December 31, 2020 and 2019. It is reasonably possible that within the next twelve months the amount of gross unrecognized tax benefits could be reduced by approximately $0.1 million as a result of the closure of tax statutes related to existing uncertain tax positions. The Company is subject to taxation in the U.S. and various state and foreign jurisdictions. The Company’s tax years for 2017 through 2020 remain open for examination by the Internal Revenue Service and 2014 through 2020 remain open for examination by various state and foreign taxing authorities. As of December 31, 2020, the Company has accumulated undistributed earnings generated by our foreign subsidiaries of approximately $201.8 million. Because $135.9 million of such earnings have previously been subject to the one-time transition taxes required by the U.S. Tax Cuts and Jobs Act (the “TCJA”), any additional taxes due with respect to such earnings or the excess of the amount for financial reporting over the tax basis of our foreign investments would generally be limited to foreign withholding and state income taxes. We intend, however, to indefinitely reinvest these earnings and expect future U.S. cash generation to be sufficient to meet future U.S. cash needs.

Stock-Based Compensation

Stock-Based Compensation	12 Months Ended
	Dec. 31, 2020
Share-based Payment Arrangement [Abstract]
Stock-Based Compensation	Stock-Based Compensation The Company follows the provisions of ASC 718, “Compensation — Stock Compensation” (“ASC 718”), which requires all share-based payments to employees to be recognized in the income statement based on their grant date fair values. Compensation expense for awards with service conditions only that are subject to graded vesting is recognized on a straight-line basis over the term of the vesting period. A summary of Holdings' time-based and performance-based activity for the year ended December 31, 2020 is as follows: Time-Based Performance-Based Number of Weighted Number of Weighted (in whole shares) (in whole shares) Outstanding — beginning of year 471,634 $ 32.06 50,000 $ 32.55 Granted (a) 453,493 17.15 — — Vested (179,121) 35.70 — — Cancelled or expired (5,000) 37.55 — — Outstanding — end of year 741,006 $ 22.02 50,000 $ 32.55 (a) Included in the granted amount are 6,100 restricted share units The Company recognized compensation expense of $6.1 million, $4.1 million and $8.3 million for the years ended December 31, 2020, 2019 and 2018, respectively, relating to time-based awards and performance-based awards. The amount in 2019 is net of $1.7 million of forfeitures related to the departure of the Company’s former President, Chairman and Chief Executive Officer (“Former CEO”). The 50,000 share performance-based award in 2019 relates to a five-year cumulative profit target through 2023. Through December 31, 2020, no compensation expense was recognized as achievement of the performance target is deemed not probable. The total fair value of restricted shares and share units that vested during the years ended December 31, 2020, 2019 and 2018 was $6.4 million, $8.0 million and $8.3 million, respectively. As of December 31, 2020, the Company had unrecognized compensation expense of $10.1 million related to restricted shares. The unrecognized compensation expense is expected to be recognized over a total weighted average period of 2.1 years.

Commitments and Contingencies

Commitments and Contingencies	12 Months Ended
	Dec. 31, 2020
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies The Company is subject to various pending and threatened legal proceedings arising in the ordinary course of business. The Company records a liability for loss contingencies in the consolidated financial statements when a loss is known or considered probable and the amount can be reasonably estimated. Our provisions are based on historical experience, current information and legal advice, and they may be adjusted in the future based on new developments. Estimating probable losses requires the analysis of multiple forecasted factors that often depend on judgments and potential actions by third parties. Although it is not possible to predict with certainty the ultimate outcome or cost of these matters, the Company believes they will not have a material adverse effect on our consolidated financial statements. Our subsidiaries are involved in a number of contractual and warranty-related disputes. We believe that appropriate liabilities for these contingencies have been recorded; however, actual results may differ materially from our estimates. In addition to the routine lawsuits and asserted claims noted above, we are also a co-defendant in approximately 118 cases asserting claims on behalf of approximately 219 plaintiffs alleging personal injury as a result of exposure to asbestos. These asbestos cases generally relate to production and sale of asbestos-containing products and allege various theories of liability, including negligence, gross negligence and strict liability, and seek compensatory and, in some cases, punitive damages. In every asbestos case in which we are named as a party, the complaints are filed against multiple named defendants. To the extent that any specific amount of damages is sought, the amount applies to claims against all named defendants. Historically, we have been dismissed from asbestos cases on the basis that the plaintiff incorrectly sued one of our subsidiaries or because the plaintiff failed to identify any asbestos-containing product manufactured or sold by us or our subsidiaries. We intend to vigorously defend these asbestos cases and believe we will continue to be successful in being dismissed from such cases. However, it is not possible to predict the ultimate outcome of asbestos-related lawsuits, claims and proceedings due to the unpredictable nature of personal injury litigation.

Lease Arrangements

Lease Arrangements	12 Months Ended
	Dec. 31, 2020
Leases [Abstract]
Lease Arrangements	Lease Arrangements We lease manufacturing facilities, warehouse space, office space, machinery and equipment, information technology equipment and vehicles under operating leases. We also lease one building and machinery and numerous equipment under finance leases. For operating leases with terms greater than 12 months, we record the operating right-of-use asset and related lease liability at the present value of lease payments over the lease term. In certain real estate leases, we have options to renew lease terms, generally at our sole discretion. We evaluate renewal options at the lease commencement date to determine if we are reasonably certain to exercise the option on the basis of economic factors. The discount rate implicit in our operating leases is generally not determinable, and therefore the Company determines the discount rate for each lease based on its incremental borrowing rate. The incremental borrowing rate is calculated based on lease term, currency and collateral adjustments. During 2020, the Company obtained right-of-use assets in exchange for new operating lease liabilities of $18.0 million. Balance Sheet as of December 31, 2020 and 2019 Classification on the Balance Sheet December 31, 2020 December 31, 2019 Assets Operating lease assets Operating lease right-of-use assets $ 68.6 $ 64.3 Finance lease assets Property, plant and equipment, net 28.2 27.1 Total lease assets $ 96.8 $ 91.4 Liabilities Current Operating Current portion of operating lease liabilities $ 12.9 $ 11.9 Finance Current portion of long-term debt and short-term debt 7.1 7.0 Noncurrent Operating Long-term operating lease liabilities 56.7 53.6 Finance Long-term debt 11.6 10.2 Total lease liabilities $ 88.3 $ 82.7 Weighted-average remaining lease term (in years) Operating leases 6.5 7.1 Finance leases 4.1 3.9 Weighted-average discount rate Operating leases 5.4 % 5.4 % Finance leases 4.1 % 3.7 % Lease Expense for 2020 and 2019 Operating lease expense is recognized on a straight-line basis over the lease term, with variable payments recognized in the period those payments are incurred. 2020 2019 Finance lease expense Amortization of right-of-use assets $ 4.6 $ 3.7 Interest on lease liabilities 0.5 0.7 Operating lease expense 16.9 17.4 Other lease expense (1) 6.7 6.6 Total lease expense $ 28.7 $ 28.4 (1) - Other lease expense includes variable lease costs and short-term lease costs. Total lease expense for 2018 was $27.7 million. Cash Flow Information for 2020 and 2019 2020 2019 Amounts included in the Consolidated Statements of Cash Flows: Operating cash outflows for operating leases $ (16.8) $ (17.2) Operating cash outflows for finance leases $ (0.5) $ (0.7) Financing cash inflows (outflows) for finance leases $ 1.4 $ (3.4) Maturities of Lease Liabilities as of December 31, 2020, were as follows: Operating Leases Finance Leases 2021 $ 16.1 $ 7.7 2022 14.5 4.8 2023 12.8 4.0 2024 10.5 2.1 2025 8.0 0.9 Thereafter 20.6 0.9 Total lease payments 82.5 20.4 Less: amount of lease payments representing interest (12.9) (1.7) Total present value of future lease payments $ 69.6 $ 18.7 Certain of the Company’s leases are with related parties at an annual rental expense of approximately $2.6 million. Transactions with related parties are not material to the Company’s financial position, results of operations or cash flows.
Lease Arrangements	Lease Arrangements We lease manufacturing facilities, warehouse space, office space, machinery and equipment, information technology equipment and vehicles under operating leases. We also lease one building and machinery and numerous equipment under finance leases. For operating leases with terms greater than 12 months, we record the operating right-of-use asset and related lease liability at the present value of lease payments over the lease term. In certain real estate leases, we have options to renew lease terms, generally at our sole discretion. We evaluate renewal options at the lease commencement date to determine if we are reasonably certain to exercise the option on the basis of economic factors. The discount rate implicit in our operating leases is generally not determinable, and therefore the Company determines the discount rate for each lease based on its incremental borrowing rate. The incremental borrowing rate is calculated based on lease term, currency and collateral adjustments. During 2020, the Company obtained right-of-use assets in exchange for new operating lease liabilities of $18.0 million. Balance Sheet as of December 31, 2020 and 2019 Classification on the Balance Sheet December 31, 2020 December 31, 2019 Assets Operating lease assets Operating lease right-of-use assets $ 68.6 $ 64.3 Finance lease assets Property, plant and equipment, net 28.2 27.1 Total lease assets $ 96.8 $ 91.4 Liabilities Current Operating Current portion of operating lease liabilities $ 12.9 $ 11.9 Finance Current portion of long-term debt and short-term debt 7.1 7.0 Noncurrent Operating Long-term operating lease liabilities 56.7 53.6 Finance Long-term debt 11.6 10.2 Total lease liabilities $ 88.3 $ 82.7 Weighted-average remaining lease term (in years) Operating leases 6.5 7.1 Finance leases 4.1 3.9 Weighted-average discount rate Operating leases 5.4 % 5.4 % Finance leases 4.1 % 3.7 % Lease Expense for 2020 and 2019 Operating lease expense is recognized on a straight-line basis over the lease term, with variable payments recognized in the period those payments are incurred. 2020 2019 Finance lease expense Amortization of right-of-use assets $ 4.6 $ 3.7 Interest on lease liabilities 0.5 0.7 Operating lease expense 16.9 17.4 Other lease expense (1) 6.7 6.6 Total lease expense $ 28.7 $ 28.4 (1) - Other lease expense includes variable lease costs and short-term lease costs. Total lease expense for 2018 was $27.7 million. Cash Flow Information for 2020 and 2019 2020 2019 Amounts included in the Consolidated Statements of Cash Flows: Operating cash outflows for operating leases $ (16.8) $ (17.2) Operating cash outflows for finance leases $ (0.5) $ (0.7) Financing cash inflows (outflows) for finance leases $ 1.4 $ (3.4) Maturities of Lease Liabilities as of December 31, 2020, were as follows: Operating Leases Finance Leases 2021 $ 16.1 $ 7.7 2022 14.5 4.8 2023 12.8 4.0 2024 10.5 2.1 2025 8.0 0.9 Thereafter 20.6 0.9 Total lease payments 82.5 20.4 Less: amount of lease payments representing interest (12.9) (1.7) Total present value of future lease payments $ 69.6 $ 18.7 Certain of the Company’s leases are with related parties at an annual rental expense of approximately $2.6 million. Transactions with related parties are not material to the Company’s financial position, results of operations or cash flows.

Pensions and Postretirement Ben

Pensions and Postretirement Benefits	12 Months Ended
	Dec. 31, 2020
Retirement Benefits [Abstract]
Pensions and Postretirement Benefits	Pensions and Postretirement Benefits The Company and its subsidiaries have pension plans, principally noncontributory defined benefit or noncontributory defined contribution plans, covering substantially all employees. In addition, the Company has an unfunded postretirement benefit plan. One of its defined benefit plans, covering most U.S. employees not covered by collective bargaining agreements, utilizes a cash balance formula. Under a cash balance formula, a plan participant accumulates a retirement benefit consisting of pay credits that are based upon a percentage of current eligible earnings and current interest credits. For the remaining defined benefit plans, benefits are based on the employee’s years of service. For the defined contribution plans, the costs charged to operations and the amount funded are based upon a percentage of the covered employees’ compensation. The Company's objectives for the pension plan are to monitor the funded ratio; create general investment goals with regard to acceptable risk and liquidity needs ensuring the long-term interests of participants and beneficiaries are considered and manage risk by minimizing the short-term and long-term risk of actual expenses and contribution requirements. The following tables set forth the changes in benefit obligation, plan assets, funded status and amounts recognized in the consolidated balance sheet for the defined benefit pension and postretirement benefit plans as of December 31, 2020 and 2019: Pension Benefits Postretirement Benefits 2020 2019 2020 2019 Change in benefit obligation Benefit obligation at beginning of year $ 79.4 $ 71.2 $ 8.0 $ 8.5 Service cost 4.1 3.8 — — Interest cost 2.1 2.6 0.2 0.3 Actuarial losses 6.6 7.4 0.6 0.5 Benefits and expenses paid (5.7) (5.6) (0.9) (1.3) Benefit obligation at end of year $ 86.5 $ 79.4 $ 7.9 $ 8.0 Change in plan assets Fair value of plan assets at beginning of year $ 144.4 $ 128.2 $ — $ — Actual return on plan assets 23.2 22.7 — — Company contributions — — 0.9 1.3 Cash transfer to fund postretirement benefit payments (0.6) (0.9) — — Benefits and expenses paid (5.7) (5.6) (0.9) (1.3) Fair value of plan assets at end of year $ 161.3 $ 144.4 $ — $ — Funded (underfunded) status of the plans $ 74.8 $ 65.0 $ (7.9) $ (8.0) Amounts recognized in the consolidated balance sheets consist of: Pension Benefits Postretirement Benefits 2020 2019 2020 2019 Pension assets $ 74.8 $ 65.0 $ — $ — Other current liabilities — — 0.8 0.9 Other long-term liabilities — — 7.1 7.1 $ 74.8 $ 65.0 $ 7.9 $ 8.0 Amounts recognized in Accumulated other comprehensive loss Net actuarial loss $ 21.3 $ 28.1 $ 3.0 $ 2.6 Net prior service cost 0.2 0.2 — — Accumulated other comprehensive loss $ 21.5 $ 28.3 $ 3.0 $ 2.6 The pension plan weighted-average asset allocation at December 31, 2020 and 2019 and target allocation for 2021 are as follows: Plan Assets Target 2021 2020 2019 Asset Category Equity securities 45-75% 61.5 % 59.2 % Debt securities 15-35% 20.0 % 25.5 % Other 0-25% 18.5 % 15.3 % 100% 100 % 100 % The following table sets forth, by level within the fair value hierarchy, the pension plans assets: 2020 2019 Level 1 Total Level 1 Total Common stock $ 30.7 $ 30.7 $ 40.0 $ 40.0 Equity securities 63.1 63.1 43.9 43.9 Foreign stock 6.8 6.8 7.0 7.0 U.S. Government obligations 8.5 8.5 8.6 8.6 Fixed income securities 6.4 6.4 11.5 11.5 Corporate bonds 16.0 16.0 14.2 14.2 Cash and cash equivalents 5.9 5.9 2.7 2.7 Total $ 137.4 $ 127.9 Investments measured at net asset value: Common collective trusts 3.2 — Hedge funds 20.7 16.5 Total assets at fair value $ 161.3 $ 144.4 Valuation Methodologies: Following is a description of the valuation methodologies used for pension plan assets measured at fair value. There have been no changes in the methodologies used at December 31, 2020 and 2019. Common stock, equity securities and foreign stock - These securities consist of direct investments in the stock of publicly-traded companies. Such investments are valued based on the closing price reported in an active market on which the individual securities are traded. As such, the direct investments are classified as Level 1. U.S. Government obligations, fixed income securities and corporate bonds - Valued at the closing price of each security. Cash equivalents - Consists of primarily money market funds and certificates of deposit, for which book value equals fair value. Common collective trusts - Valued at the net unit value of units held by the trust at year end. The unit value is determined by the total value of fund assets divided by the total number of units of the fund owned. The equity investments in collective trusts are predominantly in index funds for which the underlying securities are actively traded in public markets based upon readily measurable prices. Common collective trusts are measured at fair value using the net asset value per share practical expedient have not been categorized in the fair value hierarchy and are being presented in the tables above to permit a reconciliation of the fair value hierarchy to the total plan assets. Hedge funds - Consists of direct investments in hedge funds through limited partnership interests. Net asset values are based on the estimated fair value of the ownership interest in the investment as determined by the general partner. The majority of the holdings of the hedge funds are in equity securities traded on public exchanges. The investment terms of the hedge funds allow capital to be redeemed quarterly given prior notice with certain limitations. Hedge funds measured at fair value using the net asset value per share practical expedient have not been categorized in the fair value hierarchy and are being presented in the tables above to permit a reconciliation of the fair value hierarchy to the total plan assets. For additional information regarding fair value measurements, see Note 1. The following tables summarize the assumptions used in the valuation of pension and postretirement benefit obligations at December 31 and the measurement of the net periodic benefit cost in the following year. The Company used a spot rate approach by applying the specific spot rates along the yield curve to the relevant projected cash flows in the estimation of the service and interest components of benefit cost. Weighted-Average assumptions as of December 31, Pension Benefits Postretirement Benefits 2020 2019 2018 2020 2019 2018 Assumptions used to determine benefit obligation at year-end Discount rate 2.40 % 3.22 % 4.24 % 1.95 % 2.94 % 4.06 % Rate of compensation increase 3.00 % 3.00 % 3.00 % N/A N/A N/A Health care cost trend rate N/A N/A N/A 6.25 % 6.25 % 6.50 % Ultimate health care cost trend rate N/A N/A N/A 5.00 % 5.00 % 5.00 % Year of ultimate trend rate N/A N/A N/A 2028 2025 2025 Assumptions used to determine expense Discount rate for benefit obligations 3.22 % 4.11 % 3.51 % 2.95 % 4.06 % 3.35 % Discount rate for service costs 3.25 % 4.14 % 3.60 % 3.29 % 4.34 % 3.70 % Discount rate for interest costs 2.76 % 3.72 % 3.08 % 2.56 % 3.72 % 2.92 % Expected return on plan assets 7.75 % 8.25 % 8.25 % N/A N/A N/A Rate of compensation increase 3.00 % 3.00 % 3.00 % N/A N/A N/A Medical health care benefits rate increase N/A N/A N/A 6.25 % 6.50 % 6.50 % Medical drug benefits rate increase N/A N/A N/A 6.25 % 6.50 % 6.50 % Ultimate health care cost trend rate N/A N/A N/A 5.00 % 5.00 % 5.00 % Year of ultimate trend rate N/A N/A N/A 2028 2025 2025 In determining its expected return on plan assets assumption for the year ended December 31, 2020, the Company considered historical experience, its asset allocation, expected future long-term rates of return for each major asset class, and an assumed long-term inflation rate. This assumption was supported by the asset return generation model, which projected future asset returns using simulation and asset class correlation. Pension Benefits Postretirement Benefits 2020 2019 2018 2020 2019 2018 Components of net periodic benefit cost Service costs $ 4.1 $ 3.8 $ 3.7 $ — $ — $ — Interest costs 2.1 2.6 2.2 0.2 0.3 0.3 Expected return on plan assets (11.7) (10.9) (11.6) — — — Amortization of prior service cost (credit) — — — — (0.1) (0.1) Recognized net actuarial loss 1.9 2.2 0.3 0.2 0.3 0.1 Benefit (income) costs $ (3.6) $ (2.3) $ (5.4) $ 0.4 $ 0.5 $ 0.3 Other changes in plan assets and benefit obligations recognized in accumulated other comprehensive (income) loss ("AOCI") AOCI at beginning of year $ 28.3 $ 35.0 $ 16.8 $ 2.6 $ 2.3 $ 2.0 Net (loss) gain arising during the year (1.8) (2.2) (0.3) (0.2) (0.3) (0.1) Recognition of prior service credit — — — — 0.1 0.1 Recognition of actuarial loss (5.0) (4.5) 18.5 0.6 0.5 0.3 Total recognized in accumulated other comprehensive loss at end of year $ 21.5 $ 28.3 $ 35.0 $ 3.0 $ 2.6 $ 2.3 Below is a table summarizing the Company’s expected future benefit payments and the expected payments due to Medicare subsidy over the next ten years: Postretirement Benefits Pension Benefits Gross Expected Net including 2021 $ 5.9 $ 0.9 $ 0.1 $ 0.8 2022 6.1 0.8 0.1 0.7 2023 6.2 0.8 0.1 0.7 2024 6.3 0.8 0.1 0.7 2025 6.3 0.7 0.1 0.6 2026 to 2030 31.4 2.8 0.2 2.6 The Company expects to make no contributions to its defined benefit plans in 2021 and beyond, as pension benefits are expected to be paid out of plan assets and postretirement benefits are paid directly by the Company. In January 2008, a Supplemental Executive Retirement Plan (“SERP”) for the Former CEO was approved by the Compensation Committee of the Board of Directors of the Company. The SERP provides an annual supplemental retirement benefit of up to $0.4 million upon the Former CEO’s termination of employment with the Company. The Former CEO is fully vested in the SERP, which has a balance of $2.3 million as of December 31, 2020.

Accumulated Other Comprehensive

Accumulated Other Comprehensive Income (Loss)	12 Months Ended
	Dec. 31, 2020
Equity [Abstract]
Accumulated Other Comprehensive Income (Loss)	Accumulated Other Comprehensive Income (Loss) The components of and changes in accumulated other comprehensive income (loss) for the years ended December 31, 2020, 2019, and 2018 were as follows: Cumulative Translation Adjustment Pension and Postretirement Benefits Total Balance at January 1, 2018 $ (11.6) $ (6.3) $ (17.9) Currency translation (9.7) — (9.7) Pension and OPEB activity, net of tax — (13.3) (13.3) Balance at December 31, 2018 (21.3) (19.6) (40.9) Currency translation (1.1) — (1.1) Pension and OPEB activity, net of tax — 5.0 5.0 Balance at December 31, 2019 (22.4) (14.6) (37.0) Currency translation 14.1 — 14.1 Pension and OPEB activity, net of tax — 4.8 4.8 Balance at December 31, 2020 $ (8.3) $ (9.8) $ (18.1) No income taxes are provided on currency translation as foreign earnings are considered permanently re-invested.

Schedule_II__ Valuation and Qua

Schedule II — Valuation and Qualifying Accounts and Reserves	12 Months Ended
	Dec. 31, 2020
SEC Schedule, 12-09, Valuation and Qualifying Accounts [Abstract]
Schedule II — Valuation and Qualifying Accounts and Reserves	Schedule II Park-Ohio Industries, Inc. and Subsidiaries Schedule II — Valuation and Qualifying Accounts and Reserves Description Balance at Charged to Deductions Balance at Year Ended December 31, 2020: Allowances deducted from assets: Trade receivable allowances $ 4.9 3.0 (2.4) (A) $ 5.5 Inventory reserves 34.2 13.1 (8.0) (B) 39.3 Tax valuation allowances 5.5 1.0 — 6.5 Year Ended December 31, 2019: Allowances deducted from assets: Trade receivable allowances $ 6.2 1.3 (2.6) (A) $ 4.9 Inventory reserves 34.9 5.3 (6.0) (B) 34.2 Tax valuation allowances 5.3 0.2 — 5.5 Year Ended December 31, 2018: Allowances deducted from assets: Trade receivable allowances $ 4.5 2.0 (0.3) (A) $ 6.2 Inventory reserves 29.8 7.5 (2.4) (B) 34.9 Tax valuation allowances 11.6 (6.3) — 5.3 Note (A)- Uncollectable accounts written off, net of recoveries. Note (B)- Amounts written off.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2020
Accounting Policies [Abstract]
Consolidation and Basis of Presentation	Consolidation and Basis of Presentation: Park-Ohio Industries, Inc. (“ParkOhio,” “we” or the “Company”) is a diversified international company providing world-class customers with a supply chain management outsourcing service, capital equipment used on their production lines, and manufactured components used to assemble their products. The Company operates three reportable segments: Supply Technologies, Assembly Components and Engineered Products. The consolidated financial statements include the accounts of the Company and all of its majority-owned subsidiaries. All intercompany accounts and transactions have been eliminated in consolidation. The Company does not have off-balance sheet arrangements or financings with unconsolidated entities or other persons, other than the letters of credits disclosed in Note 8. The Company leases certain real properties owned by related parties as described in Note 12. Transactions with related parties are not material to the Company’s financial position, results of operations or cash flows.
Accounting Estimates	Accounting Estimates: The preparation of financial statements in conformity with accounting principles generally accepted in the United States requires management to make estimates and assumptions that affect the reported amounts in the consolidated financial statements. Actual results could differ from those estimates.
Cash Equivalents	Cash Equivalents: The Company considers all highly liquid investments with an original maturity of three months or less when purchased to be cash equivalents.
Accounts Receivable and Allowance for Doubtful Accounts	Accounts Receivable and Allowance for Doubtful Accounts: Accounts receivable are recorded at net realizable value. Accounts receivable are reduced by an allowance for amounts that may become uncollectible in the future. The allowance for doubtful accounts was $5.5 million and $4.9 million at December 31, 2020 and 2019, respectively. The Company’s policy is to measure expected credit losses on accounts receivable based on historical experience, current conditions and reasonable forecasts. During 2020 and 2019, we sold, without recourse, $74.1 million and $112.7 million, respectively, of accounts receivable to mitigate accounts receivable concentration risk and to increase working capital efficiency. Sales of accounts receivable are reflected as a reduction of accounts receivable in the Consolidated Balance Sheets, and the proceeds are included in cash flows from operating activities in the Consolidated Statements of Cash Flows.
Inventories	Inventories: Inventories are valued using first-in, first-out (“FIFO”) or the weighted-average inventory method and stated at the lower of cost or net realizable value, except for the inventories at Canton Drop Forge (“CDF”). CDF inventories are stated using the last-in, first-out (“LIFO”) method.
Property, Plant and Equipment	Property, Plant and Equipment: Property, plant and equipment is carried at cost. Additions and improvements that extend the lives of assets are capitalized, and expenditures for repairs and maintenance are charged to operations as incurred. Depreciation of fixed assets, including amounts capitalized under finance leases, is computed by the straight-line method based on the estimated useful lives of the assets ranging from five one three
Goodwill and Indefinite-Lived Assets	Goodwill and Indefinite-Lived Assets: In accordance with Accounting Standards Codification (“ASC”) 350,“Intangibles — Goodwill and Other” (“ASC 350”), goodwill and indefinite life intangible assets are not amortized but rather are tested annually for impairment as of October 1, or whenever events or changes in circumstances indicate there may be an indicator of impairment in accordance with ASC 350 .
Impairment of Other Long-Lived Assets	Impairment of Other Long-Lived Assets: Other long-lived assets, including operating lease right-of-use assets, are reviewed for impairment whenever events or changes in circumstances indicate the carrying amount may not be recoverable. Upon indications of impairment, assets and liabilities are grouped at the lowest level for which identifiable cash flows are largely independent of the cash flows of other assets and liabilities. The asset group would be considered impaired if the estimated future net undiscounted cash flows generated by the asset group are less than its carrying value. Impairment losses are measured by comparing the estimated fair value of the asset group to its carrying value.
Fair Values of Financial Instruments	Fair Values of Financial Instruments: Certain financial instruments are required to be recorded at fair value. The Company measures financial assets and liabilities at fair value in three levels of inputs. The three-tier fair value hierarchy, which prioritizes the inputs used in the valuation methodologies, is as follows: Level 1 — Valuations based on quoted prices for identical assets and liabilities in active markets. Level 2 — Valuations based on 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 — Valuations based on unobservable inputs reflecting our own assumptions, consistent with reasonably available assumptions made by other market participants. These valuations require significant judgment. Changes in assumptions or estimation methods could affect the fair value estimates; however, we do not believe any such changes would have a material impact on our financial condition, results of operations or cash flows. The carrying value of cash and cash equivalents, accounts receivable, accounts payable and borrowings under the Credit Agreement (as defined in Note 8) approximate fair value at December 31, 2020 and December 31, 2019 because of the short-term nature of these instruments. The fair values of long-term debt and pension plan assets are disclosed in Note 8 and Note 13, respectively. The Company has not changed its valuation techniques for measuring fair value during 2020, and there were no transfers between levels during the periods presented.
Pension and Other Postretirement Benefits	Pension and Other Postretirement Benefits: We account for our pensions and other post-retirement benefits in accordance with ASC Topic 715, "Compensation — Retirement Benefits." Net actuarial gains and losses are amortized to expense when they exceed the 10% accounting corridor, based on the greater of the plan assets or benefit obligations, over an average employee future service period.
Income Taxes	Income Taxes: The Company accounts for income taxes under the asset and liability method, whereby deferred tax assets and liabilities are determined based on temporary differences between the financial reporting and the tax bases of assets and liabilities and are measured using the current enacted tax rates. In determining these amounts, management determined the probability of realizing deferred tax assets, taking into consideration factors including historical operating results, cumulative earnings and losses, expectations of future earnings, taxable income and the extended period of time over which the postretirement benefits will be paid. As required by ASC 740, “Income Taxes” (“ASC 740”), the Company records valuation allowances if, based on the weight of available evidence, it is more likely than not that all or some portion of our deferred tax assets will not be realized.
Revenue Recognition	Revenue Recognition: The Company recognizes revenue, other than from long-term contracts within the Engineered Products segment, when its obligations under the contract terms are satisfied and control transfers to the customer, typically upon shipment. Revenue from certain long-term contracts is accounted for over time, as products are manufactured or services are performed, as control transfers over time under these arrangements. We follow this method since reasonably reliable estimates of revenue and costs of a contract can be made. See Note 2 for additional disclosure on revenue.
Cost of Sales	Cost of Sales : Cost of sales is primarily comprised of direct materials and supplies consumed in the manufacture of product; manufacturing labor, depreciation expense and direct overhead expense; and shipping and handling costs.
Concentration of Credit Risk	Concentration of Credit Risk: The Company sells its products to customers in diversified industries. The Company performs ongoing credit evaluations of its customers’ financial condition but does not require collateral to support customer receivables. The Company establishes an allowance for doubtful accounts based upon factors surrounding the credit risk of specific customers, historical trends, current conditions and reasonable forecasts.
Environmental	Environmental: The Company expenses environmental costs related to existing conditions resulting from past or current operations and from which no current or future benefit is discernible. Costs that extend the life of the related property or mitigate or prevent future environmental contamination are capitalized. The Company records a liability when environmental assessments and/or remedial efforts are probable and can be reasonably estimated. The estimated liability of the Company is not reduced for possible recoveries from insurance carriers and is undiscounted.
Foreign Currency Translation	Foreign Currency Translation: The functional currency of the Company's subsidiaries outside the United States is the local currency. Financial statements are translated into U.S. dollars at year-end exchange rates for assets and liabilities and weighted-average exchange rates during the period for revenues and expenses. The resulting translation adjustments are recorded in Accumulated other comprehensive loss in the Consolidated Balance Sheets. Gains and losses resulting from foreign currency transactions, including intercompany transactions that are not considered long-term investments, are included in the Consolidated Statements of Operations.
Warranties	Warranties: The Company estimates the amount of warranty claims on sold products that may be incurred based on current and historical data. The actual warranty expense could differ from the estimates made by the Company based on product performance.
Accounting Standards Adopted and Recent Accounting Standards Not Yet Adopted	Accounting Standards Adopted In June 2016, the FASB issued ASU 2016-13, “Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses of Financial Instruments,” which replaced the current incurred loss impairment model with a methodology that reflected expected credit losses. Under the new methodology, entities will measure expected credit losses on financial instruments held at amortized cost, including trade receivables, based on historical experience, current conditions and reasonable forecasts. The Company adopted this standard as of January 1, 2020. The adoption of the standard had an immaterial impact on the Company. For the year ended December 31, 2020, the provision and write-offs was not material, and the allowance approximated $5.5 million as of December 31, 2020. In December 2019, the FASB issued ASU 2019-12, “Income Taxes (ASC 740) - Simplifying the Accounting for Income Taxes,” which simplifies the accounting for income taxes by removing certain exceptions to the general principles in ASC 740. The amendments also improve consistent application of and simplify U.S. GAAP for other areas of ASC 740 by clarifying and amending existing guidance. The Company adopted this standard as of April 1, 2020. The adoption of the standard had an immaterial impact on the Company's tax provision. Recent Accounting Standards Not Yet Adopted In March 2020, the FASB issued ASU 2020-04, “Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting,” which was issued in response to concerns about structural risks of interbank offered rates, and, particularly, the risk of cessation of the London Interbank Offered Rate. The guidance is effective upon issuance and may be adopted on any date on or after March 12, 2020. However, the relief is temporary and generally cannot be applied to contract modifications that occur after December 31, 2022 or hedging relationships entered into or evaluated after that date. The Company is currently evaluating the expected impact of this standard. No other recently issued ASUs are expected to have a material impact on our results of operations, financial condition or liquidity.

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Tables)	12 Months Ended
	Dec. 31, 2020
Accounting Policies [Abstract]
Major classes of inventories	Major Classes of Inventories December 31, 2020 December 31, 2019 Raw materials and supplies $ 93.8 $ 92.6 Work in process 42.3 51.3 Finished goods 172.8 181.3 LIFO reserve 2.0 2.0 Inventories, net $ 310.9 $ 327.2 Other Inventory Items Inventory reserves $ (39.3) $ (34.2) Consigned inventory $ 13.4 $ 8.2
Schedule of property, plant and equipment	The following table summarizes property, plant and equipment: December 31, December 31, Land and land improvements $ 12.6 $ 12.0 Buildings 89.8 86.9 Machinery and equipment 440.2 424.0 Leased property under finance leases 44.8 39.2 Total property, plant and equipment 587.4 562.1 Less: Accumulated depreciation 348.3 322.0 Property, plant and equipment, net $ 239.1 $ 240.1 Year Ended December 31, 2020 2019 2018 Depreciation expense $ 29.6 $ 27.6 $ 29.3
Changes in product warranty liability	The following table presents the changes in the Company’s product warranty liability: Year Ended December 31, 2020 2019 2018 Balance at January 1 $ 6.4 $ 6.2 $ 7.9 Claims paid during the year (2.5) (4.1) (5.3) Warranty expense 2.5 4.3 3.6 Balance at December 31 $ 6.4 $ 6.4 $ 6.2

Revenue (Tables)

Revenue (Tables)	12 Months Ended
	Dec. 31, 2020
Revenue from Contract with Customer [Abstract]
Disaggregation of revenue	We disaggregate our revenue by product line and geographic region of our customer, as we believe these criteria best depict how the nature, amount, timing and uncertainty of our revenues and cash flows are affected by economic factors. See details in the tables below. Year Ended December 31, 2020 2019 PRODUCT LINE Supply Technologies $ 444.8 $ 532.9 Engineered specialty fasteners and other products 65.3 78.6 Supply Technologies Segment 510.1 611.5 Fuel, rubber and plastic products 298.4 353.8 Aluminum products 143.1 185.7 Assembly Components Segment 441.5 539.5 Industrial equipment 238.2 323.8 Forged and machined products 105.4 143.5 Engineered Products Segment 343.6 467.3 Total revenues $ 1,295.2 $ 1,618.3 Supply Technologies Segment Assembly Components Segment Engineered Products Segment Total Revenues Year Ended December 31, 2020 GEOGRAPHIC REGION United States $ 314.0 $ 302.3 $ 179.1 $ 795.4 Europe 83.8 13.2 64.5 161.5 Asia 43.3 29.6 59.3 132.2 Mexico 55.4 35.9 9.8 101.1 Canada 9.8 59.1 19.2 88.1 Other 3.8 1.4 11.7 16.9 Total $ 510.1 $ 441.5 $ 343.6 $ 1,295.2 Year Ended December 31, 2019 GEOGRAPHIC REGION United States $ 404.5 $ 388.1 $ 271.3 $ 1,063.9 Europe 98.0 14.6 80.2 192.8 Asia 40.3 21.4 66.2 127.9 Mexico 54.7 37.3 13.8 105.8 Canada 12.2 76.7 23.9 112.8 Other 1.8 1.4 11.9 15.1 Total $ 611.5 $ 539.5 $ 467.3 $ 1,618.3

Segments (Tables)

Segments (Tables)	12 Months Ended
	Dec. 31, 2020
Segment Reporting [Abstract]
Results by business segment	Results by business segment were as follows: Year Ended December 31, 2020 2019 2018 Net sales: Supply Technologies $ 510.1 $ 611.5 $ 636.8 Assembly Components 441.5 539.5 578.3 Engineered Products 343.6 467.3 443.0 $ 1,295.2 $ 1,618.3 $ 1,658.1 Segment operating income: Supply Technologies $ 30.2 $ 42.0 $ 49.0 Assembly Components 8.1 36.2 42.9 Engineered Products 3.5 37.7 38.4 Total segment operating income 41.8 115.9 130.3 Corporate costs (25.5) (27.8) (33.9) One-time net expense related to former President — (4.3) — Gain on sale of assets — — 1.9 Operating income 16.3 83.8 98.3 Other components of pension income and other postretirement benefits expense, net 7.3 5.6 8.8 Interest expense, net (30.4) (33.9) (34.4) (Loss) income before income taxes $ (6.8) $ 55.5 $ 72.7 Year Ended December 31, 2020 2019 2018 Capital expenditures: Supply Technologies $ 6.5 $ 6.1 $ 5.2 Assembly Components 13.1 19.5 24.3 Engineered Products 6.5 14.3 15.4 Corporate 0.2 0.2 0.1 $ 26.3 $ 40.1 $ 45.0 Depreciation and amortization expense: Supply Technologies $ 5.1 $ 4.8 $ 5.3 Assembly Components 20.7 20.1 22.2 Engineered Products 9.6 8.8 8.4 Corporate 0.4 0.4 0.3 $ 35.8 $ 34.1 $ 36.2 Identifiable assets: Supply Technologies $ 347.6 $ 355.9 $ 330.1 Assembly Components 401.1 413.4 378.3 Engineered Products 439.7 455.1 433.1 Corporate 128.9 102.9 82.2 $ 1,317.3 $ 1,327.3 $ 1,223.7

Goodwill (Tables)

Goodwill (Tables)	12 Months Ended
	Dec. 31, 2020
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of goodwill	The changes in the carrying amount of goodwill by reportable segment are as follows: Supply Technologies Assembly Components Engineered Products Total Balance at January 1, 2019 $ 14.2 $ 56.0 $ 33.2 $ 103.4 Acquisitions and adjustments — — 5.0 5.0 Foreign currency translation 0.4 — (0.4) — Balance at December 31, 2019 14.6 56.0 37.8 108.4 Foreign currency translation 0.5 0.1 1.9 2.5 Balance at December 31, 2020 $ 15.1 $ 56.1 $ 39.7 $ 110.9

Other Intangible Assets (Tables

Other Intangible Assets (Tables)	12 Months Ended
	Dec. 31, 2020
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of intangible assets, finite-lived	December 31, 2020 December 31, 2019 Weighted Average Remaining Useful Life (Years) Gross Value Accumulated Net Value Gross Value Accumulated Net Value Customer relationships 9.2 $ 87.5 $ 44.5 $ 43.0 $ 86.6 $ 39.6 $ 47.0 Indefinite-lived tradenames * 25.2 * 25.2 24.6 * 24.6 Technology 14.5 23.7 6.4 17.3 22.9 5.3 17.6 Other 6.7 4.9 3.6 1.3 4.8 3.4 1.4 Total $ 141.3 $ 54.5 $ 86.8 $ 138.9 $ 48.3 $ 90.6 * Not applicable, as these tradenames have an indefinite life.
Schedule of intangible assets, indefinite-lived	December 31, 2020 December 31, 2019 Weighted Average Remaining Useful Life (Years) Gross Value Accumulated Net Value Gross Value Accumulated Net Value Customer relationships 9.2 $ 87.5 $ 44.5 $ 43.0 $ 86.6 $ 39.6 $ 47.0 Indefinite-lived tradenames * 25.2 * 25.2 24.6 * 24.6 Technology 14.5 23.7 6.4 17.3 22.9 5.3 17.6 Other 6.7 4.9 3.6 1.3 4.8 3.4 1.4 Total $ 141.3 $ 54.5 $ 86.8 $ 138.9 $ 48.3 $ 90.6 * Not applicable, as these tradenames have an indefinite life.
Schedule of amortization of intangible assets	Amortization expense of other intangible assets as follows: Year Ended December 31, 2020 2019 2018 Amortization expense $ 6.2 $ 6.5 $ 6.9
Amortization for the next five years	We estimate amortization expense for the five years subsequent to 2020 as follows: 2021 $ 6.5 2022 $ 6.4 2023 $ 6.2 2024 $ 6.1 2025 $ 6.1

Financing Arrangements (Tables)

Financing Arrangements (Tables)	12 Months Ended
	Dec. 31, 2020
Debt Disclosure [Abstract]
Schedule of long-term debt	Debt consists of the following: Carrying Value at Maturity Date Interest Rate at December 31, 2020 December 31, 2020 December 31, 2019 Senior Notes due 2027 April 15, 2027 6.625 % $ 350.0 $ 350.0 Revolving credit facility November 26, 2024 1.35 % 143.7 173.2 Industrial Equipment Group European Facilities December 21, 2021 3.25 % — 4.6 Finance leases Various Various 18.7 17.2 Other Various Various 22.3 23.5 Total debt 534.7 568.5 Less: Current portion of long-term debt and short-term debt (11.6) (16.8) Less: Unamortized debt issuance costs (5.3) (6.5) Total long-term debt, net $ 517.8 $ 545.2
Fair value of debt	The following table represents fair value information of the Notes, classified as Level 1, at December 31, 2020 and 2019. The fair value was estimated using quoted market prices. December 31, 2020 December 31, 2019 Carrying amount $ 350.0 $ 350.0 Fair value $ 361.8 $ 358.3
Maturities of long-term debt	Maturities of short-term and long-term debt, excluding finance leases, during each of the five years subsequent to December 31, 2020 are as follows: 2021 $ 4.5 2022 $ 4.2 2023 $ 3.9 2024 $ 147.1 2025 $ 2.6

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Dec. 31, 2020
Income Tax Disclosure [Abstract]
Income from continuing operations before income tax expense	(Loss) income before income taxes consists of the following: Year Ended December 31, 2020 2019 2018 United States $ (27.2) $ 26.8 $ 36.0 Outside the United States 20.4 28.7 36.7 $ (6.8) $ 55.5 $ 72.7
Income taxes	Income taxes consists of the following: Year Ended December 31, 2020 2019 2018 Current (benefit) expense: Federal $ (16.5) $ 6.1 $ 6.6 State 0.4 0.7 0.6 Foreign 7.4 7.2 9.0 (8.7) 14.0 16.2 Deferred expense (benefit): Federal 6.7 1.8 1.3 State (0.2) (0.2) 0.1 Foreign (0.3) (0.2) (0.8) 6.2 1.4 0.6 Income tax (benefit) expense $ (2.5) $ 15.4 $ 16.8
Reconciliation of income tax expense	A reconciliation of income tax (benefit) expense computed by applying the statutory federal income tax rate to income tax expense as recorded is as follows: Year Ended December 31, 2020 2019 2018 Income tax (benefit) expense at U.S. statutory rate $ (1.4) $ 11.7 $ 15.3 Effect of state income taxes, net (0.3) 0.3 0.6 Effect of foreign operations 1.5 1.9 3.5 Valuation allowance 0.6 0.6 (3.0) Uncertain tax positions (1.0) 0.1 (0.3) Non-deductible items 1.5 2.5 1.3 Equity compensation 0.6 — — CARES Act NOL carryback (5.3) — — Foreign tax credit (0.8) (1.7) (2.2) Other tax credits (0.3) (0.8) — GILTI 1.8 1.9 3.1 FDII — (0.8) (0.6) Other, net 0.6 (0.3) (0.9) Income tax (benefit) expense as recorded $ (2.5) $ 15.4 $ 16.8
Significant components of the Company's net deferred tax assets and liabilities	Significant components of the Company’s net deferred income tax assets and liabilities are as follows: Year Ended December 31, 2020 2019 Deferred income tax assets: Postretirement benefit obligation $ 1.7 $ 1.7 Inventory 0.8 8.7 Net operating loss and credit carryforwards 16.4 11.6 Operating lease liabilities 15.4 13.8 Compensation 3.9 2.9 Disallowed interest — 4.6 Other 5.8 4.2 Total deferred income tax assets 44.0 47.5 Deferred income tax liabilities: Depreciation and amortization 20.8 21.7 Pension 16.3 13.9 Intangible assets 16.8 16.8 Lease right-of-use assets 15.2 13.5 Other 3.0 3.0 Total deferred income tax liabilities 72.1 68.9 Net deferred income tax liabilities prior to valuation allowances (28.1) (21.4) Valuation allowances (6.2) (4.8) Net deferred income tax liability $ (34.3) $ (26.2)
Reconciliation of unrecognized tax benefits	A reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows: 2020 2019 2018 Unrecognized Tax Benefit — January 1 $ 3.7 $ 0.9 $ 1.2 Gross Increases to Tax Positions Related to Current Year — 0.5 0.1 Gross Increases to Tax Positions Related to Prior Years 0.1 2.6 — Gross Decreases to Tax Positions Related to Prior Years (0.5) — (0.1) Gross Decreases related to settlements with taxing authorities — — (0.1) Expiration of Statute of Limitations (1.2) (0.3) (0.2) Unrecognized Tax Benefit — December 31 $ 2.1 $ 3.7 $ 0.9

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	12 Months Ended
	Dec. 31, 2020
Share-based Payment Arrangement [Abstract]
Summary of restricted share activity	A summary of Holdings' time-based and performance-based activity for the year ended December 31, 2020 is as follows: Time-Based Performance-Based Number of Weighted Number of Weighted (in whole shares) (in whole shares) Outstanding — beginning of year 471,634 $ 32.06 50,000 $ 32.55 Granted (a) 453,493 17.15 — — Vested (179,121) 35.70 — — Cancelled or expired (5,000) 37.55 — — Outstanding — end of year 741,006 $ 22.02 50,000 $ 32.55 (a) Included in the granted amount are 6,100 restricted share units

Lease Arrangements (Tables)

Lease Arrangements (Tables)	12 Months Ended
	Dec. 31, 2020
Leases [Abstract]
Lease assets and liabilities	Balance Sheet as of December 31, 2020 and 2019 Classification on the Balance Sheet December 31, 2020 December 31, 2019 Assets Operating lease assets Operating lease right-of-use assets $ 68.6 $ 64.3 Finance lease assets Property, plant and equipment, net 28.2 27.1 Total lease assets $ 96.8 $ 91.4 Liabilities Current Operating Current portion of operating lease liabilities $ 12.9 $ 11.9 Finance Current portion of long-term debt and short-term debt 7.1 7.0 Noncurrent Operating Long-term operating lease liabilities 56.7 53.6 Finance Long-term debt 11.6 10.2 Total lease liabilities $ 88.3 $ 82.7 Weighted-average remaining lease term (in years) Operating leases 6.5 7.1 Finance leases 4.1 3.9 Weighted-average discount rate Operating leases 5.4 % 5.4 % Finance leases 4.1 % 3.7 %
Lease costs	Lease Expense for 2020 and 2019 Operating lease expense is recognized on a straight-line basis over the lease term, with variable payments recognized in the period those payments are incurred. 2020 2019 Finance lease expense Amortization of right-of-use assets $ 4.6 $ 3.7 Interest on lease liabilities 0.5 0.7 Operating lease expense 16.9 17.4 Other lease expense (1) 6.7 6.6 Total lease expense $ 28.7 $ 28.4 (1) - Other lease expense includes variable lease costs and short-term lease costs. 2020 2019 Amounts included in the Consolidated Statements of Cash Flows: Operating cash outflows for operating leases $ (16.8) $ (17.2) Operating cash outflows for finance leases $ (0.5) $ (0.7) Financing cash inflows (outflows) for finance leases $ 1.4 $ (3.4)
Maturities of operating lease liabilities	Maturities of Lease Liabilities as of December 31, 2020, were as follows: Operating Leases Finance Leases 2021 $ 16.1 $ 7.7 2022 14.5 4.8 2023 12.8 4.0 2024 10.5 2.1 2025 8.0 0.9 Thereafter 20.6 0.9 Total lease payments 82.5 20.4 Less: amount of lease payments representing interest (12.9) (1.7) Total present value of future lease payments $ 69.6 $ 18.7
Maturities of finance lease liabilities	Maturities of Lease Liabilities as of December 31, 2020, were as follows: Operating Leases Finance Leases 2021 $ 16.1 $ 7.7 2022 14.5 4.8 2023 12.8 4.0 2024 10.5 2.1 2025 8.0 0.9 Thereafter 20.6 0.9 Total lease payments 82.5 20.4 Less: amount of lease payments representing interest (12.9) (1.7) Total present value of future lease payments $ 69.6 $ 18.7

Pensions and Postretirement B_2

Pensions and Postretirement Benefits (Tables)	12 Months Ended
	Dec. 31, 2020
Retirement Benefits [Abstract]
Summary of changes in benefit obligation, plan assets, funded status	The following tables set forth the changes in benefit obligation, plan assets, funded status and amounts recognized in the consolidated balance sheet for the defined benefit pension and postretirement benefit plans as of December 31, 2020 and 2019: Pension Benefits Postretirement Benefits 2020 2019 2020 2019 Change in benefit obligation Benefit obligation at beginning of year $ 79.4 $ 71.2 $ 8.0 $ 8.5 Service cost 4.1 3.8 — — Interest cost 2.1 2.6 0.2 0.3 Actuarial losses 6.6 7.4 0.6 0.5 Benefits and expenses paid (5.7) (5.6) (0.9) (1.3) Benefit obligation at end of year $ 86.5 $ 79.4 $ 7.9 $ 8.0 Change in plan assets Fair value of plan assets at beginning of year $ 144.4 $ 128.2 $ — $ — Actual return on plan assets 23.2 22.7 — — Company contributions — — 0.9 1.3 Cash transfer to fund postretirement benefit payments (0.6) (0.9) — — Benefits and expenses paid (5.7) (5.6) (0.9) (1.3) Fair value of plan assets at end of year $ 161.3 $ 144.4 $ — $ — Funded (underfunded) status of the plans $ 74.8 $ 65.0 $ (7.9) $ (8.0)
Schedule of amounts recognized in the consolidated balance sheets	Amounts recognized in the consolidated balance sheets consist of: Pension Benefits Postretirement Benefits 2020 2019 2020 2019 Pension assets $ 74.8 $ 65.0 $ — $ — Other current liabilities — — 0.8 0.9 Other long-term liabilities — — 7.1 7.1 $ 74.8 $ 65.0 $ 7.9 $ 8.0 Amounts recognized in Accumulated other comprehensive loss Net actuarial loss $ 21.3 $ 28.1 $ 3.0 $ 2.6 Net prior service cost 0.2 0.2 — — Accumulated other comprehensive loss $ 21.5 $ 28.3 $ 3.0 $ 2.6
Summary of pension plan weighted-average asset allocation	The pension plan weighted-average asset allocation at December 31, 2020 and 2019 and target allocation for 2021 are as follows: Plan Assets Target 2021 2020 2019 Asset Category Equity securities 45-75% 61.5 % 59.2 % Debt securities 15-35% 20.0 % 25.5 % Other 0-25% 18.5 % 15.3 % 100% 100 % 100 %
Schedule of fair value hierarchy of pension plans assets	The following table sets forth, by level within the fair value hierarchy, the pension plans assets: 2020 2019 Level 1 Total Level 1 Total Common stock $ 30.7 $ 30.7 $ 40.0 $ 40.0 Equity securities 63.1 63.1 43.9 43.9 Foreign stock 6.8 6.8 7.0 7.0 U.S. Government obligations 8.5 8.5 8.6 8.6 Fixed income securities 6.4 6.4 11.5 11.5 Corporate bonds 16.0 16.0 14.2 14.2 Cash and cash equivalents 5.9 5.9 2.7 2.7 Total $ 137.4 $ 127.9 Investments measured at net asset value: Common collective trusts 3.2 — Hedge funds 20.7 16.5 Total assets at fair value $ 161.3 $ 144.4
Summary of assumptions used in the valuation of pension and postretirement benefit obligations	The following tables summarize the assumptions used in the valuation of pension and postretirement benefit obligations at December 31 and the measurement of the net periodic benefit cost in the following year. The Company used a spot rate approach by applying the specific spot rates along the yield curve to the relevant projected cash flows in the estimation of the service and interest components of benefit cost. Weighted-Average assumptions as of December 31, Pension Benefits Postretirement Benefits 2020 2019 2018 2020 2019 2018 Assumptions used to determine benefit obligation at year-end Discount rate 2.40 % 3.22 % 4.24 % 1.95 % 2.94 % 4.06 % Rate of compensation increase 3.00 % 3.00 % 3.00 % N/A N/A N/A Health care cost trend rate N/A N/A N/A 6.25 % 6.25 % 6.50 % Ultimate health care cost trend rate N/A N/A N/A 5.00 % 5.00 % 5.00 % Year of ultimate trend rate N/A N/A N/A 2028 2025 2025 Assumptions used to determine expense Discount rate for benefit obligations 3.22 % 4.11 % 3.51 % 2.95 % 4.06 % 3.35 % Discount rate for service costs 3.25 % 4.14 % 3.60 % 3.29 % 4.34 % 3.70 % Discount rate for interest costs 2.76 % 3.72 % 3.08 % 2.56 % 3.72 % 2.92 % Expected return on plan assets 7.75 % 8.25 % 8.25 % N/A N/A N/A Rate of compensation increase 3.00 % 3.00 % 3.00 % N/A N/A N/A Medical health care benefits rate increase N/A N/A N/A 6.25 % 6.50 % 6.50 % Medical drug benefits rate increase N/A N/A N/A 6.25 % 6.50 % 6.50 % Ultimate health care cost trend rate N/A N/A N/A 5.00 % 5.00 % 5.00 % Year of ultimate trend rate N/A N/A N/A 2028 2025 2025
Summary of components of net periodic benefit cost	Pension Benefits Postretirement Benefits 2020 2019 2018 2020 2019 2018 Components of net periodic benefit cost Service costs $ 4.1 $ 3.8 $ 3.7 $ — $ — $ — Interest costs 2.1 2.6 2.2 0.2 0.3 0.3 Expected return on plan assets (11.7) (10.9) (11.6) — — — Amortization of prior service cost (credit) — — — — (0.1) (0.1) Recognized net actuarial loss 1.9 2.2 0.3 0.2 0.3 0.1 Benefit (income) costs $ (3.6) $ (2.3) $ (5.4) $ 0.4 $ 0.5 $ 0.3 Other changes in plan assets and benefit obligations recognized in accumulated other comprehensive (income) loss ("AOCI") AOCI at beginning of year $ 28.3 $ 35.0 $ 16.8 $ 2.6 $ 2.3 $ 2.0 Net (loss) gain arising during the year (1.8) (2.2) (0.3) (0.2) (0.3) (0.1) Recognition of prior service credit — — — — 0.1 0.1 Recognition of actuarial loss (5.0) (4.5) 18.5 0.6 0.5 0.3 Total recognized in accumulated other comprehensive loss at end of year $ 21.5 $ 28.3 $ 35.0 $ 3.0 $ 2.6 $ 2.3
Schedule of other changes in plan assets and benefit obligations recognized in Accumulated Other Comprehensive (income) Loss (“AOCI”)	Pension Benefits Postretirement Benefits 2020 2019 2018 2020 2019 2018 Components of net periodic benefit cost Service costs $ 4.1 $ 3.8 $ 3.7 $ — $ — $ — Interest costs 2.1 2.6 2.2 0.2 0.3 0.3 Expected return on plan assets (11.7) (10.9) (11.6) — — — Amortization of prior service cost (credit) — — — — (0.1) (0.1) Recognized net actuarial loss 1.9 2.2 0.3 0.2 0.3 0.1 Benefit (income) costs $ (3.6) $ (2.3) $ (5.4) $ 0.4 $ 0.5 $ 0.3 Other changes in plan assets and benefit obligations recognized in accumulated other comprehensive (income) loss ("AOCI") AOCI at beginning of year $ 28.3 $ 35.0 $ 16.8 $ 2.6 $ 2.3 $ 2.0 Net (loss) gain arising during the year (1.8) (2.2) (0.3) (0.2) (0.3) (0.1) Recognition of prior service credit — — — — 0.1 0.1 Recognition of actuarial loss (5.0) (4.5) 18.5 0.6 0.5 0.3 Total recognized in accumulated other comprehensive loss at end of year $ 21.5 $ 28.3 $ 35.0 $ 3.0 $ 2.6 $ 2.3
Summary company's expected future benefit payments	Below is a table summarizing the Company’s expected future benefit payments and the expected payments due to Medicare subsidy over the next ten years: Postretirement Benefits Pension Benefits Gross Expected Net including 2021 $ 5.9 $ 0.9 $ 0.1 $ 0.8 2022 6.1 0.8 0.1 0.7 2023 6.2 0.8 0.1 0.7 2024 6.3 0.8 0.1 0.7 2025 6.3 0.7 0.1 0.6 2026 to 2030 31.4 2.8 0.2 2.6

Accumulated Other Comprehensi_2

Accumulated Other Comprehensive Income (Loss) (Tables)	12 Months Ended
	Dec. 31, 2020
Equity [Abstract]
Changes in accumulated other comprehensive income (loss)	The components of and changes in accumulated other comprehensive income (loss) for the years ended December 31, 2020, 2019, and 2018 were as follows: Cumulative Translation Adjustment Pension and Postretirement Benefits Total Balance at January 1, 2018 $ (11.6) $ (6.3) $ (17.9) Currency translation (9.7) — (9.7) Pension and OPEB activity, net of tax — (13.3) (13.3) Balance at December 31, 2018 (21.3) (19.6) (40.9) Currency translation (1.1) — (1.1) Pension and OPEB activity, net of tax — 5.0 5.0 Balance at December 31, 2019 (22.4) (14.6) (37.0) Currency translation 14.1 — 14.1 Pension and OPEB activity, net of tax — 4.8 4.8 Balance at December 31, 2020 $ (8.3) $ (9.8) $ (18.1)

Summary of Significant Accoun_4

Summary of Significant Accounting Policies (Narrative) (Details)	12 Months Ended
	Dec. 31, 2020USD ($)segmentcustomer	Dec. 31, 2019USD ($)	Dec. 31, 2018USD ($)
Concentration Risk [Line Items]
Number of reportable segments | segment	3
Allowance for doubtful accounts	$ 5,500,000	$ 4,900,000
Sale of accounts receivable	74,100,000	112,700,000
Expense on discount on sale of accounts receivable	400,000	1,100,000
Goodwill impairment	0	0	$ 0
Indefinite-lived intangible assets impairment	0	0	0
GILTI, income tax expense	1,800,000	1,900,000
FDII decrease in income tax expense	0	800,000
Uncollateralized accounts receivable	248,100,000	261,300,000
Net sales	1,295,200,000	$ 1,618,300,000	$ 1,658,100,000
Accounts receivable, allowance for credit losses	$ 5,500,000
Six Customers In Automotive Industry | Customer Concentration Risk
Concentration Risk [Line Items]
Uncollateralized accounts receivable, number of customers | customer	6
Six Customers In Automotive Industry | Customer Concentration Risk | Receivables
Concentration Risk [Line Items]
Uncollateralized accounts receivable	$ 40,600,000
Percentage of concentration	16.00%
Six Customers In Automotive Industry | Customer Concentration Risk | Revenue from Contract with Customer
Concentration Risk [Line Items]
Percentage of concentration	18.00%
Net sales	$ 228,200,000

Summary of Significant Accoun_5

Summary of Significant Accounting Policies (Schedule of Major Classes of Inventories) (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Major Classes of Inventories
Raw materials and supplies	$ 93.8	$ 92.6
Work in process	42.3	51.3
Finished goods	172.8	181.3
LIFO reserve	2	2
Inventories, net	310.9	327.2
Inventory reserves	(39.3)	(34.2)
Consigned inventory	$ 13.4	$ 8.2

Summary of Significant Accoun_6

Summary of Significant Accounting Policies (Property, Plant and Equipment) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Property, Plant and Equipment [Line Items]
Leased property under finance leases	$ 44.8	$ 39.2
Total property, plant and equipment	587.4	562.1
Less: Accumulated depreciation	348.3	322
Property, plant and equipment, net	239.1	240.1
Land and land improvements
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	12.6	12
Buildings
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	$ 89.8	86.9
Buildings | Minimum
Property, Plant and Equipment [Line Items]
Estimated useful lives	5 years
Buildings | Maximum
Property, Plant and Equipment [Line Items]
Estimated useful lives	40 years
Machinery and equipment
Property, Plant and Equipment [Line Items]
Property, plant and equipment, useful life, majority range, minimum	3 years
Property, plant and equipment, useful life, majority range, maximum	10 years
Property, plant and equipment, gross	$ 440.2	$ 424
Machinery and equipment | Minimum
Property, Plant and Equipment [Line Items]
Estimated useful lives	1 year
Machinery and equipment | Maximum
Property, Plant and Equipment [Line Items]
Estimated useful lives	20 years

Summary of Significant Accoun_7

Summary of Significant Accounting Policies (Depreciation Expense) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Accounting Policies [Abstract]
Depreciation expense	$ 29.6	$ 27.6	$ 29.3

Summary of Significant Accoun_8

Summary of Significant Accounting Policies (Schedule of Changes in Product Warranty Liability) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Changes in product warranty liability
Balance, Beginning of Period	$ 6.4	$ 6.2	$ 7.9
Claims paid during the year	(2.5)	(4.1)	(5.3)
Warranty expense	2.5	4.3	3.6
Balance, End of Period	$ 6.4	$ 6.4	$ 6.2

Revenue (Narrative) (Details)

Revenue (Narrative) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Deferred revenue	$ 37.4	$ 35.7
Contract assets	$ 56.9	$ 61.7
Minimum
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Payment term	30 days
Maximum
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Payment term	90 days
Transferred over Time | Revenue from Contract with Customer
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Percentage of concentration	22.00%

Revenue (Summary of Disaggregat

Revenue (Summary of Disaggregation of Revenue by Product Line) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Disaggregation of Revenue [Line Items]
Total revenues	$ 1,295.2	$ 1,618.3	$ 1,658.1
Supply Technologies Segment
Disaggregation of Revenue [Line Items]
Total revenues	510.1	611.5	636.8
Supply Technologies Segment | Supply Technologies
Disaggregation of Revenue [Line Items]
Total revenues	444.8	532.9
Supply Technologies Segment | Engineered specialty fasteners and other products
Disaggregation of Revenue [Line Items]
Total revenues	65.3	78.6
Assembly Components Segment
Disaggregation of Revenue [Line Items]
Total revenues	441.5	539.5	578.3
Assembly Components Segment | Fuel, rubber and plastic products
Disaggregation of Revenue [Line Items]
Total revenues	298.4	353.8
Assembly Components Segment | Aluminum products
Disaggregation of Revenue [Line Items]
Total revenues	143.1	185.7
Engineered Products Segment
Disaggregation of Revenue [Line Items]
Total revenues	343.6	467.3	$ 443
Engineered Products Segment | Industrial equipment
Disaggregation of Revenue [Line Items]
Total revenues	238.2	323.8
Engineered Products Segment | Forged and machined products
Disaggregation of Revenue [Line Items]
Total revenues	$ 105.4	$ 143.5

Revenue (Summary of Disaggreg_2

Revenue (Summary of Disaggregation of Revenue by Geographical Area) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Total revenues	$ 1,295.2	$ 1,618.3	$ 1,658.1
Supply Technologies Segment
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Total revenues	510.1	611.5	636.8
Assembly Components Segment
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Total revenues	441.5	539.5	578.3
Engineered Products Segment
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Total revenues	343.6	467.3	$ 443
United States
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Total revenues	795.4	1,063.9
United States | Supply Technologies Segment
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Total revenues	314	404.5
United States | Assembly Components Segment
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Total revenues	302.3	388.1
United States | Engineered Products Segment
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Total revenues	179.1	271.3
Europe
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Total revenues	161.5	192.8
Europe | Supply Technologies Segment
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Total revenues	83.8	98
Europe | Assembly Components Segment
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Total revenues	13.2	14.6
Europe | Engineered Products Segment
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Total revenues	64.5	80.2
Asia
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Total revenues	132.2	127.9
Asia | Supply Technologies Segment
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Total revenues	43.3	40.3
Asia | Assembly Components Segment
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Total revenues	29.6	21.4
Asia | Engineered Products Segment
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Total revenues	59.3	66.2
Mexico
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Total revenues	101.1	105.8
Mexico | Supply Technologies Segment
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Total revenues	55.4	54.7
Mexico | Assembly Components Segment
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Total revenues	35.9	37.3
Mexico | Engineered Products Segment
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Total revenues	9.8	13.8
Canada
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Total revenues	88.1	112.8
Canada | Supply Technologies Segment
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Total revenues	9.8	12.2
Canada | Assembly Components Segment
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Total revenues	59.1	76.7
Canada | Engineered Products Segment
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Total revenues	19.2	23.9
Other
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Total revenues	16.9	15.1
Other | Supply Technologies Segment
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Total revenues	3.8	1.8
Other | Assembly Components Segment
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Total revenues	1.4	1.4
Other | Engineered Products Segment
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Total revenues	$ 11.7	$ 11.9

Segments (Narrative) (Details)

Segments (Narrative) (Details) - segment	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Segment Reporting [Abstract]
Number of reportable segments	3
United States | Geographic Concentration Risk | Assets
Concentration Risk [Line Items]
Percentage of concentration	70.00%	71.00%	68.00%

Segments (Schedule of Segment I

Segments (Schedule of Segment Information) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Net sales:
Net sales	$ 1,295.2	$ 1,618.3	$ 1,658.1
Segment operating income:
Total segment operating income	16.3	83.8	98.3
Gain on sale of assets	0	0	1.9
Other components of pension income and other postretirement benefits expense, net	7.3	5.6	8.8
Interest expense, net	(30.4)	(33.9)	(34.4)
(Loss) income before income taxes	(6.8)	55.5	72.7
Capital expenditures	26.3	40.1	45
Depreciation and amortization expense	35.8	34.1	36.2
Identifiable assets	1,317.3	1,327.3	1,223.7
Operating Segments
Segment operating income:
Total segment operating income	41.8	115.9	130.3
Corporate
Segment operating income:
Corporate costs	(25.5)	(27.8)	(33.9)
Capital expenditures	0.2	0.2	0.1
Depreciation and amortization expense	0.4	0.4	0.3
Identifiable assets	128.9	102.9	82.2
Segment Reconciling Items
Segment operating income:
One-time net expense related to former President	0	(4.3)	0
Gain on sale of assets	0	0	1.9
Supply Technologies Segment
Net sales:
Net sales	510.1	611.5	636.8
Segment operating income:
Capital expenditures	6.5	6.1	5.2
Depreciation and amortization expense	5.1	4.8	5.3
Identifiable assets	347.6	355.9	330.1
Supply Technologies Segment | Operating Segments
Segment operating income:
Total segment operating income	30.2	42	49
Assembly Components
Net sales:
Net sales	441.5	539.5	578.3
Segment operating income:
Capital expenditures	13.1	19.5	24.3
Depreciation and amortization expense	20.7	20.1	22.2
Identifiable assets	401.1	413.4	378.3
Assembly Components | Operating Segments
Segment operating income:
Total segment operating income	8.1	36.2	42.9
Engineered Products
Net sales:
Net sales	343.6	467.3	443
Segment operating income:
Capital expenditures	6.5	14.3	15.4
Depreciation and amortization expense	9.6	8.8	8.4
Identifiable assets	439.7	455.1	433.1
Engineered Products | Operating Segments
Segment operating income:
Total segment operating income	$ 3.5	$ 37.7	$ 38.4

Plant Closure and Consolidati_2

Plant Closure and Consolidation (Details) $ in Millions	12 Months Ended
	Dec. 31, 2020USD ($)
Assembly Components
Restructuring Cost and Reserve [Line Items]
Restructuring charges	$ 4.1
Assembly Components | Severance and related employee costs
Restructuring Cost and Reserve [Line Items]
Restructuring charges	1.4
Assembly Components | Asset Impairment
Restructuring Cost and Reserve [Line Items]
Restructuring charges	0.5
Assembly Components | Other facility costs
Restructuring Cost and Reserve [Line Items]
Restructuring charges	2.2
Engineered Products Segment | Cost of Sales
Restructuring Cost and Reserve [Line Items]
Restructuring charges	1
Engineered Products Segment | Selling, General and Administrative Expenses
Restructuring Cost and Reserve [Line Items]
Restructuring charges	$ 1.2

Acquisitions (Narrative) (Detai

Acquisitions (Narrative) (Details) $ in Millions	Oct. 01, 2018USD ($)	Feb. 01, 2018USD ($)	Dec. 31, 2020USD ($)	Dec. 31, 2019USD ($)	Dec. 31, 2018USD ($)acquisition
Business Acquisition, Pro Forma Information, Nonrecurring Adjustment [Line Items]
Business acquisition, cash paid			$ 0	$ 8.1	$ 46.9
Erie Press Systems EP
Business Acquisition, Pro Forma Information, Nonrecurring Adjustment [Line Items]
Business acquisition, cash paid				$ 8.1
Cash acquired			10.4
Contingent consideration, range of outcomes, high			1
Contingent consideration, period				2 years
Contingent consideration liability			0
Reversal of contingent consideration liability			$ 1
CDF
Business Acquisition, Pro Forma Information, Nonrecurring Adjustment [Line Items]
Purchase price		$ 35.6
Hydrapower Dynamics Limited
Business Acquisition, Pro Forma Information, Nonrecurring Adjustment [Line Items]
Purchase price	$ 7.8
Immaterial business acquisitions
Business Acquisition, Pro Forma Information, Nonrecurring Adjustment [Line Items]
Purchase price					$ 3.5
Number of acquisitions | acquisition					2

Goodwill (Details)

Goodwill (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Goodwill [Roll Forward]
Balance, beginning of period	$ 108.4	$ 103.4
Acquisitions and adjustments		5
Foreign currency translation	2.5	0
Balance, end of period	110.9	108.4
Supply Technologies Segment
Goodwill [Roll Forward]
Balance, beginning of period	14.6	14.2
Acquisitions and adjustments		0
Foreign currency translation	0.5	0.4
Balance, end of period	15.1	14.6
Assembly Components
Goodwill [Roll Forward]
Balance, beginning of period	56	56
Acquisitions and adjustments		0
Foreign currency translation	0.1	0
Balance, end of period	56.1	56
Engineered Products Segment
Goodwill [Roll Forward]
Balance, beginning of period	37.8	33.2
Acquisitions and adjustments		5
Foreign currency translation	1.9	(0.4)
Balance, end of period	$ 39.7	$ 37.8

Other Intangible Assets (Schedu

Other Intangible Assets (Schedule of Other Intangible Assets) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Finite-Lived Intangible Assets [Line Items]
Accumulated Amortization	$ 54.5	$ 48.3
Indefinite-lived Intangible Assets [Line Items]
Gross Value	141.3	138.9
Net Value	86.8	90.6
Indefinite-lived tradenames
Indefinite-lived Intangible Assets [Line Items]
Gross and Net Value	$ 25.2	24.6
Customer relationships
Finite-Lived Intangible Assets [Line Items]
Weighted Average Remaining Useful Life (Years)	9 years 2 months 12 days
Gross Value	$ 87.5	86.6
Accumulated Amortization	44.5	39.6
Net Value	$ 43	47
Technology
Finite-Lived Intangible Assets [Line Items]
Weighted Average Remaining Useful Life (Years)	14 years 6 months
Gross Value	$ 23.7	22.9
Accumulated Amortization	6.4	5.3
Net Value	$ 17.3	17.6
Other
Finite-Lived Intangible Assets [Line Items]
Weighted Average Remaining Useful Life (Years)	6 years 8 months 12 days
Gross Value	$ 4.9	4.8
Accumulated Amortization	3.6	3.4
Net Value	$ 1.3	$ 1.4

Other Intangible Assets (Sche_2

Other Intangible Assets (Schedule of Amortization of Intangible Assets) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Goodwill and Intangible Assets Disclosure [Abstract]
Amortization expense	$ 6.2	$ 6.5	$ 6.9

Other Intangible Assets (Sche_3

Other Intangible Assets (Schedule of Amortization Expense for Subsequent Years) (Details) $ in Millions	Dec. 31, 2020USD ($)
Goodwill and Intangible Assets Disclosure [Abstract]
2021	$ 6.5
2022	6.4
2023	6.2
2024	6.1
2025	$ 6.1

Financing Arrangements (Schedul

Financing Arrangements (Schedule of Long-term Debt) (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019	Apr. 30, 2017
Carrying Value at
Finance leases	$ 18.7	$ 17.2
Other	22.3	23.5
Total debt	534.7	568.5
Less: Current portion of long-term debt and short-term debt	(11.6)	(16.8)
Less: Unamortized debt issuance costs	(5.3)	(6.5)
Total long-term debt, net	$ 517.8	545.2
Revolving credit facility
Debt Instrument [Line Items]
Senior notes, interest rate	1.35%
Carrying Value at
Debt outstanding	$ 143.7	173.2
Foreign line of credit
Debt Instrument [Line Items]
Senior notes, interest rate	3.25%
Carrying Value at
Debt outstanding	$ 0	4.6
Senior notes | Senior Notes due 2027
Debt Instrument [Line Items]
Senior notes, interest rate	6.625%		6.625%
Carrying Value at
Debt outstanding	$ 350	$ 350

Financing Arrangements (Narrati

Financing Arrangements (Narrative) (Details) - USD ($)	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Jun. 30, 2018	Apr. 30, 2017	Dec. 21, 2016	Oct. 21, 2015	Aug. 13, 2015
Line of Credit Facility [Line Items]
Ownership percentage of domestic subsidiaries					100.00%
Lease agreement, capacity								$ 50,000,000
Finance leases	$ 18,700,000	$ 17,200,000
Foreign subsidiaries borrowings	13,000,000	16,200,000
Foreign subsidiaries bank guarantee amount	$ 34,900,000	$ 33,800,000
Weighted average interest rate	5.40%	5.80%	5.80%
Arkansas Development Finance Authority | Southwest Steel Processing LLC
Line of Credit Facility [Line Items]
Maximum borrowing capacity							$ 11,000,000
Credit facility outstanding	$ 6,900,000
Revolving credit facility
Line of Credit Facility [Line Items]
Senior notes, interest rate	1.35%
Debt outstanding	$ 143,700,000	$ 173,200,000
Foreign line of credit
Line of Credit Facility [Line Items]
Senior notes, interest rate	3.25%
Debt outstanding	$ 0	4,600,000
Senior notes | Senior Notes Due 2027
Line of Credit Facility [Line Items]
Aggregate principal amount					$ 350,000,000
Senior notes | Senior Notes due 2027
Line of Credit Facility [Line Items]
Senior notes, interest rate	6.625%				6.625%
Debt outstanding	$ 350,000,000	$ 350,000,000
Banco Bolbao Vizcaya Argentaria, S.A. | Line of Credit | Revolving credit facility | Financing Agreement
Line of Credit Facility [Line Items]
Maximum borrowing capacity						$ 12,300,000
Credit facility outstanding	$ 0
Banco Bolbao Vizcaya Argentaria, S.A. | Line of Credit | Foreign line of credit
Line of Credit Facility [Line Items]
Maximum borrowing capacity						$ 30,700,000
Park-Ohio Industries, Inc. | Revolving credit facility | Seventh Amendment Credit Agreement
Line of Credit Facility [Line Items]
Maximum borrowing capacity				$ 350,000,000
Park-Ohio Industries, Inc. | Revolving credit facility | Amendment No. 1 to Seventh Amended And Restated Credit Agreement
Line of Credit Facility [Line Items]
Maximum borrowing capacity				375,000,000
Accordion feature, increase limit				100,000,000
Park-Ohio Industries, Inc. | Revolving credit facility, Canadian sub-limit | Seventh Amendment Credit Agreement
Line of Credit Facility [Line Items]
Maximum borrowing capacity				35,000,000
Park-Ohio Industries, Inc. | Revolving credit facility, Canadian sub-limit | Amendment No. 1 to Seventh Amended And Restated Credit Agreement
Line of Credit Facility [Line Items]
Maximum borrowing capacity				40,000,000
Park-Ohio Industries, Inc. | Revolving credit facility, European sub-limit | Seventh Amendment Credit Agreement
Line of Credit Facility [Line Items]
Maximum borrowing capacity				25,000,000
Park-Ohio Industries, Inc. | Revolving credit facility, European sub-limit | Amendment No. 1 to Seventh Amended And Restated Credit Agreement
Line of Credit Facility [Line Items]
Maximum borrowing capacity				$ 30,000,000

Financing Arrangements (Fair Va

Financing Arrangements (Fair Value of Debt) (Details) - Level 1 - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Carrying amount
Debt Instrument [Line Items]
Carrying amount	$ 350	$ 350
Estimate of Fair Value Measurement
Debt Instrument [Line Items]
Fair value	$ 361.8	$ 358.3

Financing Arrangements (Sched_2

Financing Arrangements (Schedule of Maturities of Long-term Debt) (Details) $ in Millions	Dec. 31, 2020USD ($)
Debt Disclosure [Abstract]
2021	$ 4.5
2022	4.2
2023	3.9
2024	147.1
2025	$ 2.6

Income Taxes (Income from Conti

Income Taxes (Income from Continuing Operations Before Income Taxes) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Income Tax Disclosure [Abstract]
United States	$ (27.2)	$ 26.8	$ 36
Outside the United States	20.4	28.7	36.7
(Loss) income before income taxes	$ (6.8)	$ 55.5	$ 72.7

Income Taxes (Income Taxes) (De

Income Taxes (Income Taxes) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Current (benefit) expense:
Federal	$ (16.5)	$ 6.1	$ 6.6
State	0.4	0.7	0.6
Foreign	7.4	7.2	9
Total	(8.7)	14	16.2
Deferred expense (benefit):
Federal	6.7	1.8	1.3
State	(0.2)	(0.2)	0.1
Foreign	(0.3)	(0.2)	(0.8)
Total	6.2	1.4	0.6
Income tax (benefit) expense	$ (2.5)	$ 15.4	$ 16.8

Income Taxes (Reconciliation Be

Income Taxes (Reconciliation Between Federal Statutory Tax Rate and Effective Tax Rates) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Income Tax Disclosure [Abstract]
Income tax (benefit) expense at U.S. statutory rate	$ (1.4)	$ 11.7	$ 15.3
Effect of state income taxes, net	(0.3)	0.3	0.6
Effect of foreign operations	1.5	1.9	3.5
Valuation allowance	0.6	0.6	(3)
Uncertain tax positions	(1)	0.1	(0.3)
Non-deductible items	1.5	2.5	1.3
Equity compensation	0.6	0	0
CARES Act NOL carryback	(5.3)	0	0
Foreign tax credit	(0.8)	(1.7)	(2.2)
Other tax credits	(0.3)	(0.8)	0
GILTI	1.8	1.9	3.1
FDII	0	(0.8)	(0.6)
Other, net	0.6	(0.3)	(0.9)
Income tax (benefit) expense	$ (2.5)	$ 15.4	$ 16.8

Income Taxes (Significant Compo

Income Taxes (Significant Components of the Company's Net Deferred Tax Assets and Liabilities) (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Deferred income tax assets:
Postretirement benefit obligation	$ 1.7	$ 1.7
Inventory	0.8	8.7
Net operating loss and credit carryforwards	16.4	11.6
Operating lease liabilities	15.4	13.8
Compensation	3.9	2.9
Disallowed interest	0	4.6
Other	5.8	4.2
Total deferred income tax assets	44	47.5
Deferred income tax liabilities:
Depreciation and amortization	20.8	21.7
Pension	16.3	13.9
Intangible assets	16.8	16.8
Lease right-of-use assets	15.2	13.5
Other	3	3
Total deferred income tax liabilities	72.1	68.9
Net deferred income tax liabilities prior to valuation allowances	(28.1)	(21.4)
Valuation allowances	(6.2)	(4.8)
Net deferred income tax liability	$ (34.3)	$ (26.2)

Income Taxes (Narrative) (Detai

Income Taxes (Narrative) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Operating Loss Carryforwards [Line Items]
Deferred tax asset, cumulative loss position term	3 years
Unrecognized tax benefits, if recognized, would affect the effective tax rate	$ 0.2	$ 1
Tax expense (benefit) in net interest and penalties due to expiration of various uncertain tax positions	(0.1)	$ 0.1
Payment of interest and penalties accrued	0.2
Decrease in unrecognized tax benefits is reasonably possible	0.1
Undistributed earnings of foreign subsidiaries	201.8
Undistributed earnings, subject to transition tax	135.9
Foreign Tax Authority
Operating Loss Carryforwards [Line Items]
Net operating loss carryforwards for income tax purposes	34.7
Operating loss carryforward, subject to expiration	15
Tax credit carryforward	0.5
State and Local Jurisdiction
Operating Loss Carryforwards [Line Items]
Net operating loss carryforwards for income tax purposes	3.2
Domestic Tax Authority
Operating Loss Carryforwards [Line Items]
Tax credit carryforward	$ 2.2

Income Taxes (Reconciliation of

Income Taxes (Reconciliation of Unrecognized Tax Benefits) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Reconciliation of Beginning and Ending amount of Unrecognized tax benefits
Unrecognized Tax Benefit, Beginning of Period	$ 3.7	$ 0.9	$ 1.2
Gross Increases to Tax Positions Related to Current Year	0	0.5	0.1
Gross Increases to Tax Positions Related to Prior Years	0.1	2.6	0
Gross Decreases to Tax Positions Related to Prior Years	(0.5)	0	(0.1)
Gross Decreases related to settlements with taxing authorities	0	0	(0.1)
Expiration of Statute of Limitations	(1.2)	(0.3)	(0.2)
Unrecognized Tax Benefit, End of Period	$ 2.1	$ 3.7	$ 0.9

Stock-Based Compensation (Summa

Stock-Based Compensation (Summary of restricted share activity) (Details)	12 Months Ended
	Dec. 31, 2020$ / sharesshares
Time-Based | Time-Based
Number of Shares
Outstanding - beginning of year (in shares)	471,634
Granted (in shares)	453,493
Vested (in shares)	(179,121)
Cancelled or expired (in shares)	(5,000)
Outstanding - end of year (in shares)	741,006
Weighted Average Grant Date Fair Value
Outstanding - beginning of year (in dollars per share) | $ / shares	$ 32.06
Granted (in dollars per share) | $ / shares	17.15
Vested (in dollars per share) | $ / shares	35.70
Cancelled or expired (in dollars per share) | $ / shares	37.55
Outstanding - end of year (in dollars per share) | $ / shares	$ 22.02
Time-Based | Performance-Based
Number of Shares
Outstanding - beginning of year (in shares)	50,000
Granted (in shares)	0
Vested (in shares)	0
Cancelled or expired (in shares)	0
Outstanding - end of year (in shares)	50,000
Weighted Average Grant Date Fair Value
Outstanding - beginning of year (in dollars per share) | $ / shares	$ 32.55
Granted (in dollars per share) | $ / shares	0
Vested (in dollars per share) | $ / shares	0
Cancelled or expired (in dollars per share) | $ / shares	0
Outstanding - end of year (in dollars per share) | $ / shares	$ 32.55
Restricted Stock Units (RSUs)
Number of Shares
Granted (in shares)	6,100

Stock-Based Compensation (Narra

Stock-Based Compensation (Narrative) (Details) - USD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Compensation expense	$ 0
Forfeitures related to departure	$ 1,700,000
Share performance-based, cumulative profit target (in shares)		50,000
Cumulative profit target	5 years
Total fair value of restricted stock units vested	$ 6,400,000	$ 8,000,000	$ 8,300,000
Unrecognized compensation expense	$ 10,100,000
Total weighted average period	2 years 1 month 6 days
Restricted shares and performance shares
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Compensation expense	$ 6,100,000	$ 4,100,000	$ 8,300,000

Commitments and Contingencies (

Commitments and Contingencies (Details)	12 Months Ended
	Dec. 31, 2020plaintiffclaim
Commitments and Contingencies Disclosure [Abstract]
Number of cases asserting claims | claim	118
Number of plaintiffs | plaintiff	219

Lease Arrangements (Narrative)

Lease Arrangements (Narrative) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2018
Leases [Abstract]
Right-of-use asset	$ 18
Rental expense		$ 27.7
Leases with related parties, annual rental expense	$ 2.6

Lease Arrangements (Classificat

Lease Arrangements (Classification on the Balance Sheet) (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Assets
Operating lease assets	$ 68.6	$ 64.3
Finance lease assets	28.2	27.1
Total lease assets	96.8	91.4
Current
Operating	12.9	11.9
Finance	7.1	7
Noncurrent
Operating	56.7	53.6
Finance	11.6	10.2
Total lease liabilities	$ 88.3	$ 82.7
Weighted-average remaining lease term (in years)
Operating leases	6 years 6 months	7 years 1 month 6 days
Finance leases	4 years 1 month 6 days	3 years 10 months 24 days
Weighted-average discount rate
Operating leases	5.40%	5.40%
Finance leases	4.10%	3.70%

Lease Arrangements (Lease Costs

Lease Arrangements (Lease Costs) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Finance lease expense
Amortization of right-of-use assets	$ 4.6	$ 3.7
Interest on lease liabilities	0.5	0.7
Operating lease expense	16.9	17.4
Other lease expense	6.7	6.6
Total lease expense	$ 28.7	$ 28.4

Lease Arrangements (Cash Flows)

Lease Arrangements (Cash Flows) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Amounts included in the Consolidated Statements of Cash Flows:
Operating cash outflows for operating leases	$ (16.8)	$ (17.2)
Operating cash outflows for finance leases	(0.5)	(0.7)
Financing cash inflows (outflows) for finance leases	$ 1.4	$ (3.4)

Lease Arrangements (Maturities

Lease Arrangements (Maturities of Lease Liabilities) (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Operating Leases
2021	$ 16.1
2022	14.5
2023	12.8
2024	10.5
2025	8
Thereafter	20.6
Total lease payments	82.5
Less: amount of lease payments representing interest	(12.9)
Total present value of future lease payments	69.6
Finance Leases
2021	7.7
2022	4.8
2023	4
2024	2.1
2025	0.9
Thereafter	0.9
Total lease payments	20.4
Less: amount of lease payments representing interest	(1.7)
Total present value of future lease payments	$ 18.7	$ 17.2

Pensions and Postretirement B_3

Pensions and Postretirement Benefits (Summary of Change in Defined Benefit and Postretirement Benefit Plans) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Change in plan assets
Fair value of plan assets at beginning of year	$ 144.4
Fair value of plan assets at end of year	161.3	$ 144.4
Funded (underfunded) status of the plans
Pension assets	74.8	65
Pension Benefits
Change in benefit obligation
Benefit obligation at beginning of year	79.4	71.2
Service cost	4.1	3.8	$ 3.7
Interest cost	2.1	2.6	2.2
Actuarial losses	6.6	7.4
Benefits and expenses paid	(5.7)	(5.6)
Benefit obligation at end of year	86.5	79.4	71.2
Change in plan assets
Fair value of plan assets at beginning of year	144.4	128.2
Actual return on plan assets	23.2	22.7
Company contributions	0	0
Cash transfer to fund postretirement benefit payments	(0.6)	(0.9)
Benefits and expenses paid	(5.7)	(5.6)
Fair value of plan assets at end of year	161.3	144.4	128.2
Funded (underfunded) status of the plans	74.8	65
Funded (underfunded) status of the plans
Pension assets	74.8	65
Other current liabilities	0	0
Other long-term liabilities	0	0
Asset, defined benefit plan	74.8	65
Accumulated Other Comprehensive (Income) Loss, Defined Benefit Plan, after Tax [Abstract]
Net actuarial loss	21.3	28.1
Net prior service cost	0.2	0.2
Accumulated other comprehensive loss	21.5	28.3
Postretirement Benefits
Change in benefit obligation
Benefit obligation at beginning of year	8	8.5
Service cost	0	0	0
Interest cost	0.2	0.3	0.3
Actuarial losses	0.6	0.5
Benefits and expenses paid	(0.9)	(1.3)
Benefit obligation at end of year	7.9	8	8.5
Change in plan assets
Fair value of plan assets at beginning of year	0	0
Actual return on plan assets	0	0
Company contributions	0.9	1.3
Cash transfer to fund postretirement benefit payments	0	0
Benefits and expenses paid	(0.9)	(1.3)
Fair value of plan assets at end of year	0	0	$ 0
Funded (underfunded) status of the plans	(7.9)	(8)
Funded (underfunded) status of the plans
Other current liabilities	0.8	0.9
Other long-term liabilities	7.1	7.1
Liability, Defined Benefit Plan	7.9	8
Accumulated Other Comprehensive (Income) Loss, Defined Benefit Plan, after Tax [Abstract]
Net actuarial loss	3	2.6
Net prior service cost	0	0
Accumulated other comprehensive loss	$ 3	$ 2.6

Pensions and Postretirement B_4

Pensions and Postretirement Benefits (Summary of Pension Plan Weighted-Average Asset Allocation) (Details)	Dec. 31, 2020	Dec. 31, 2019
Defined Benefit Plan Disclosure [Line Items]
Target plan asset allocation	100.00%
Weighted-average asset allocations	100.00%	100.00%
Equity securities
Defined Benefit Plan Disclosure [Line Items]
Weighted-average asset allocations	61.50%	59.20%
Debt securities
Defined Benefit Plan Disclosure [Line Items]
Weighted-average asset allocations	20.00%	25.50%
Other
Defined Benefit Plan Disclosure [Line Items]
Weighted-average asset allocations	18.50%	15.30%
Minimum | Equity securities
Defined Benefit Plan Disclosure [Line Items]
Target plan asset allocation	45.00%
Minimum | Debt securities
Defined Benefit Plan Disclosure [Line Items]
Target plan asset allocation	15.00%
Minimum | Other
Defined Benefit Plan Disclosure [Line Items]
Target plan asset allocation	0.00%
Maximum | Equity securities
Defined Benefit Plan Disclosure [Line Items]
Target plan asset allocation	75.00%
Maximum | Debt securities
Defined Benefit Plan Disclosure [Line Items]
Target plan asset allocation	35.00%
Maximum | Other
Defined Benefit Plan Disclosure [Line Items]
Target plan asset allocation	25.00%

Pensions and Postretirement B_5

Pensions and Postretirement Benefits (Summary of Pension Plan Asset Allocation By Level) (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	$ 161.3	$ 144.4
Common stock
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	30.7	40
Equity securities
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	63.1	43.9
Foreign stock
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	6.8	7
U.S. Government obligations
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	8.5	8.6
Fixed income securities
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	6.4	11.5
Corporate bonds
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	16	14.2
Cash and cash equivalents
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	5.9	2.7
Common collective trusts
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	3.2	0
Hedge Funds
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	20.7	16.5
Level 1
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	137.4	127.9
Level 1 | Common stock
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	30.7	40
Level 1 | Equity securities
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	63.1	43.9
Level 1 | Foreign stock
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	6.8	7
Level 1 | U.S. Government obligations
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	8.5	8.6
Level 1 | Fixed income securities
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	6.4	11.5
Level 1 | Corporate bonds
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	16	14.2
Level 1 | Cash and cash equivalents
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	$ 5.9	$ 2.7

Pensions and Postretirement B_6

Pensions and Postretirement Benefits (Summary of Assumptions Used in the Valuation of Pension and Postretirement Benefit Obligations) (Details)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Assumptions used to determine benefit obligation at year-end
Rate of compensation increase	3.00%	3.00%	3.00%
Assumptions used to determine expense
Rate of compensation increase	3.00%	3.00%	3.00%
Pension Benefits
Assumptions used to determine benefit obligation at year-end
Discount rate	2.40%	3.22%	4.24%
Assumptions used to determine expense
Discount rate for benefit obligations	3.22%	4.11%	3.51%
Discount rate for service costs	3.25%	4.14%	3.60%
Discount rate for interest costs	2.76%	3.72%	3.08%
Expected return on plan assets	7.75%	8.25%	8.25%
Postretirement Benefits
Assumptions used to determine benefit obligation at year-end
Discount rate	1.95%	2.94%	4.06%
Health care cost trend rate	6.25%	6.25%	6.50%
Ultimate health care cost trend rate	5.00%	5.00%	5.00%
Assumptions used to determine expense
Discount rate for benefit obligations	2.95%	4.06%	3.35%
Discount rate for service costs	3.29%	4.34%	3.70%
Discount rate for interest costs	2.56%	3.72%	2.92%
Medical health care benefits rate increase	6.25%	6.50%	6.50%
Medical drug benefits rate increase	6.25%	6.50%	6.50%
Ultimate health care cost trend rate	5.00%	5.00%	5.00%

Pensions and Postretirement B_7

Pensions and Postretirement Benefits (Summary of Components of Net Periodic Benefit Cost) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Pension Benefits
Components of net periodic benefit cost
Service costs	$ 4.1	$ 3.8	$ 3.7
Interest costs	2.1	2.6	2.2
Expected return on plan assets	(11.7)	(10.9)	(11.6)
Amortization of prior service cost (credit)	0	0	0
Recognized net actuarial loss	1.9	2.2	0.3
Benefit (income) costs	(3.6)	(2.3)	(5.4)
Other changes in plan assets and benefit obligations recognized in accumulated other comprehensive (income) loss ("AOCI")
AOCI at beginning of year	28.3	35	16.8
Net (loss) gain arising during the year	(1.8)	(2.2)	(0.3)
Recognition of prior service credit	0	0	0
Recognition of actuarial loss	(5)	(4.5)	18.5
Total recognized in accumulated other comprehensive loss at end of year	21.5	28.3	35
Postretirement Benefits
Components of net periodic benefit cost
Service costs	0	0	0
Interest costs	0.2	0.3	0.3
Expected return on plan assets	0	0	0
Amortization of prior service cost (credit)	0	(0.1)	(0.1)
Recognized net actuarial loss	0.2	0.3	0.1
Benefit (income) costs	0.4	0.5	0.3
Other changes in plan assets and benefit obligations recognized in accumulated other comprehensive (income) loss ("AOCI")
AOCI at beginning of year	2.6	2.3	2
Net (loss) gain arising during the year	(0.2)	(0.3)	(0.1)
Recognition of prior service credit	0	0.1	0.1
Recognition of actuarial loss	0.6	0.5	0.3
Total recognized in accumulated other comprehensive loss at end of year	$ 3	$ 2.6	$ 2.3

Pensions and Postretirement B_8

Pensions and Postretirement Benefits (Expected future benefit payments) (Details) $ in Millions	Dec. 31, 2020USD ($)
Pension Benefits
Defined Benefit Plan Disclosure [Line Items]
2021	$ 5.9
2022	6.1
2023	6.2
2024	6.3
2025	6.3
2026 to 2030	31.4
Postretirement Benefits
Defined Benefit Plan Disclosure [Line Items]
2021	0.8
2022	0.7
2023	0.7
2024	0.7
2025	0.6
2026 to 2030	2.6
Postretirement Benefits | Gross
Defined Benefit Plan Disclosure [Line Items]
2021	0.9
2022	0.8
2023	0.8
2024	0.8
2025	0.7
2026 to 2030	2.8
Postretirement Benefits | Expected Medicare Subsidy
Defined Benefit Plan Disclosure [Line Items]
2021	0.1
2022	0.1
2023	0.1
2024	0.1
2025	0.1
2026 to 2030	$ 0.2

Pensions and Postretirement B_9

Pensions and Postretirement Benefits (Narrative) (Details) - SERP	12 Months Ended
	Dec. 31, 2020USD ($)
Defined Benefit Plan Disclosure [Line Items]
Annual supplemental retirement benefit	$ 400,000
Other long-term liabilities	$ 2,300,000

Accumulated Other Comprehensi_3

Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Increase (Decrease) in Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Beginning balance	$ 357.8	$ 317.9	$ 292
Currency translation and pension and OPEB activity, net of tax	18.9	3.9	(23)
Ending balance	367	357.8	317.9
Cumulative Translation Adjustment
Increase (Decrease) in Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Beginning balance	(22.4)	(21.3)	(11.6)
Currency translation and pension and OPEB activity, net of tax	14.1	(1.1)	(9.7)
Ending balance	(8.3)	(22.4)	(21.3)
Pension and Postretirement Benefits
Increase (Decrease) in Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Beginning balance	(14.6)	(19.6)	(6.3)
Currency translation and pension and OPEB activity, net of tax	4.8	5	(13.3)
Ending balance	(9.8)	(14.6)	(19.6)
Total
Increase (Decrease) in Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Beginning balance	(37)	(40.9)	(17.9)
Ending balance	$ (18.1)	$ (37)	$ (40.9)

Schedule_II__ Valuation and Q_2

Schedule II — Valuation and Qualifying Accounts and Reserves (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Trade receivable allowances
Valuation and Qualifying Accounts and Reserves
Balance at Beginning of Period	$ 4.9	$ 6.2	$ 4.5
Charged to Costs and Expenses	3	1.3	2
Deductions and Other	(2.4)	(2.6)	(0.3)
Balance at End of Period	5.5	4.9	6.2
Inventory reserves
Valuation and Qualifying Accounts and Reserves
Balance at Beginning of Period	34.2	34.9	29.8
Charged to Costs and Expenses	13.1	5.3	7.5
Deductions and Other	(8)	(6)	(2.4)
Balance at End of Period	39.3	34.2	34.9
Tax valuation allowances
Valuation and Qualifying Accounts and Reserves
Balance at Beginning of Period	5.5	5.3	11.6
Charged to Costs and Expenses	1	0.2	(6.3)
Deductions and Other	0	0	0
Balance at End of Period	$ 6.5	$ 5.5	$ 5.3

Uncategorized Items - pkoh-2020

Label	Element	Value
Accounting Standards Update [Extensible List]	us-gaap_AccountingStandardsUpdateExtensibleList	us-gaap:AccountingStandardsUpdate201409Member