The Timken Company (TKR) 10-Q 1 May 20 2020 Q1 Quarterly report Financial data

Cover Document

Cover Document	3 Months Ended
	Mar. 31, 2020shares
Document Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Mar. 31, 2020
Document Transition Report	false
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	Q1
Amendment Flag	false
Entity File Number	1-1169
Entity Registrant Name	TIMKEN CO
Entity Central Index Key	0000098362
Entity Incorporation, State or Country Code	OH
Entity Tax Identification Number	34-0577130
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding	75,066,149
Entity Address, Address Line One	4500 Mount Pleasant Street NW
Entity Address, City or Town	North Canton
Entity Address, State or Province	OH
Entity Address, Postal Zip Code	44720-5450
City Area Code	234
Local Phone Number	262.3000
Title of 12(b) Security	Common Shares, without par value
Trading Symbol	TKR
Security Exchange Name	NYSE

Consolidated Statements of Inco

Consolidated Statements of Income (Unaudited) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Other comprehensive income	$ (76.3)	$ (4.9)
Net Periodic Defined Benefits Expense (Reversal of Expense), Excluding Service Cost Component	3.4	0.1
Revenue from Contract with Customer, Excluding Assessed Tax	923.4	979.7
Cost of Goods and Services Sold	644.5	677.1
Gross Profit	278.9	302.6
Selling, general and administrative expenses	153.6	152.7
Impairment and restructuring charges	3.6	0
Operating Income (Loss)	121.7	149.9
Interest expense	(17.1)	(18)
Investment Income, Interest	1.5	1.3
Other (expense) income, net	4.1	3.3
Income (Loss) Before Income Taxes	113.6	136.6
Provision (benefit) for income taxes	29.6	41.3
Net Income	84	95.3
Net (loss) income attributable to noncontrolling interest	3.3	3.4
Net Income (loss) attributable to The Timken Company	$ 80.7	$ 91.9

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income (Unaudited) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Net income	$ 84	$ 95.3
Other comprehensive income, net of tax:
Foreign currency translation adjustments	(78.8)	(4.2)
Pension and postretirement liability adjustment (net of the income tax benefit of $1.5 million)	(1.3)	(0.1)
Other Comprehensive Income (Loss), Securities, Available-for-Sale, Unrealized Holding Gain (Loss) Arising During Period, after Tax	(0.4)	0
Other Comprehensive Income (Loss), Unrealized Gain (Loss) on Derivatives Arising During Period, Net of Tax	4.2	(0.6)
Other comprehensive income	(76.3)	(4.9)
Comprehensive Income	7.7	90.4
Less: comprehensive (loss) income attributable to noncontrolling interest	(4.2)	4.3
Comprehensive Income attributable to The Timken Company	$ 11.9	$ 86.1

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2020	Dec. 31, 2019
Current Assets
Cash and cash equivalents	$ 387.5	$ 209.5
Restricted cash	6.5	6.7
Accounts receivable, less allowances (2019 – $19.7 million; 2018 – $21.9 million)	577.7	545.1
Unbilled Receivables, Asset, Net	137.4	129.2
Inventories, net	819.7	842
Net Income (Loss) Attributable to Parent	80.7
Deferred charges and prepaid expenses	35.7	36.7
Other current assets	127.7	105.4
Total Current Assets	2,092.2	1,874.6
Property, Plant and Equipment, net	961.6	989.2
Operating Lease, Right-of-Use Asset	112.8	114.1
Assets for Plan Benefits, Defined Benefit Plan	7.1	3.4
Other Assets, Miscellaneous, Noncurrent	0	36.6
Other Assets
Goodwill	987.9	993.7
Other intangible assets	735.3	758.5
Deferred Income Tax Assets, Net	67.4	71.8
Other Assets, Noncurrent	15.7	18
Total Other Assets	1,926.2	1,996.1
Total Assets	4,980	4,859.9
Current Liabilities
Short-term debt	109	17.3
Current portion of long-term debt	64.1	64.7
Operating Lease, Liability, Current	28.6	28.3
Accounts payable, trade	296	301.7
Salaries, wages and benefits	88.3	134.5
Income taxes payable	15.8	17.8
Other current liabilities	168	172.3
Total Current Liabilities	769.8	736.6
Non-Current Liabilities
Long-term debt	1,785.8	1,648.1
Accrued pension cost	164.5	165.1
Accrued postretirement benefits cost	44.8	31.8
Operating Lease, Liability, Noncurrent	70.8	71.3
Deferred Income Tax Liabilities, Net	158.7	168.2
Other non-current liabilities	85.3	84
Total Non-Current Liabilities	2,309.9	2,168.5
Shareholders' Equity
Class I and II Serial Preferred Stock, without par value: Authorized – 10,000,000 shares each class, none issued	0	0
Common Stock, Value, Outstanding	53.1	53.1
Other paid-in capital	920.1	937.6
Earnings invested in the business	1,964.8	1,907.4
Accumulated other comprehensive loss	(118.9)	(50.1)
Treasury shares at cost (2018 - 19,152,333 shares; 2017 - 20,672,133 shares)	1,001.7	979.8
Total Shareholders' Equity	1,817.4	1,868.2
Noncontrolling Interest	82.9	86.6
Total Equity	1,900.3	1,954.8
Total Liabilities and Shareholders' Equity	$ 4,980	$ 4,859.9

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($) $ / shares in Millions, $ in Millions	Mar. 31, 2020	Dec. 31, 2019
Deferred Income Tax Liabilities, Net	$ 158.7	$ 168.2
Allowances for accounts receivable	$ 18.2	$ 18.1
Preferred stock, no par value (Class I & Class II Preferred stock)	$ 0	$ 0
Preferred stock, shares issued (Class I & Class II Preferred stock)	0	0
Common shares, no par value	$ 0	$ 0
Company common shares shares authorized	200,000,000	200,000,000
Common shares, shares issued	98,375,135	98,375,135
Treasury shares	23,308,986	22,836,180
Preferred Class A [Member]
Preferred stock, shares authorized (Class I & Class II Preferred stock)	10,000,000	10,000,000
Preferred Class B [Member]
Preferred stock, shares authorized (Class I & Class II Preferred stock)	10,000,000	10,000,000

Consolidated Statements of Cash

Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Operating Activities
Net income	$ 84	$ 95.3
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	42.3	39.5
Loss on sale of assets	1.2	(1.8)
Deferred income tax provision	(5.1)	0.4
Stock-based compensation expense	5.6	7.8
Pension and other postretirement expense	(0.3)	(2.9)
Pension contributions and other postretirement benefit payments	5.5	4.9
Changes in operating assets and liabilities:
Accounts receivable	(47.6)	(65)
Increase (Decrease) in Contract with Customer, Asset	8.3	6.6
Inventories	0.3	(4.1)
Accounts payable, trade	0	(20.2)
Other accrued expenses	34.3	58
Income taxes	(12.5)	(24.7)
Other, net	11.4	1.9
Net Cash Provided by Operating Activities	56.2	52.3
Investing Activities
Capital expenditures	31.8	16.2
Acquisitions, net of cash received	0	2.9
Proceeds from disposal of property, plant and equipment	0	2.1
Other	0.2	(2.6)
Net Cash Used by Investing Activities	(31.6)	(19.6)
Financing Activities
Cash dividends paid to shareholders	(22.9)	(21.3)
Purchase of treasury shares	(42.3)	(8.3)
Assets for Plan Benefits, Defined Benefit Plan	7.5	1
Payment, Tax Withholding, Share-based Payment Arrangement	10.2	6.4
Proceeds from Accounts Receivable Securitization	10	25
Repayments of Accounts Receivable Securitization	10	0
Proceeds from Issuance of Long-term Debt	200	207
Payments on long-term debt	(37.9)	(116.8)
Short-term debt activity, net	72.3	(6.8)
Net Cash Used by Financing Activities	166.5	73.4
Effect of exchange rate changes on cash	(13.3)	0.9
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect	177.8	107
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents	$ 394	$ 240.1

Basis of Presentation

Basis of Presentation	3 Months Ended
	Mar. 31, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	Note 1 - Basis of Presentation The accompanying Consolidated Financial Statements (unaudited) for The Timken Company (the "Company" or "Timken") have been prepared in accordance with the instructions to Form 10-Q and do not include all of the information and notes required by the accounting principles generally accepted in the United States ("U.S. GAAP") for complete financial statements. In the opinion of management, all adjustments (consisting of normal recurring accruals) and disclosures considered necessary for a fair presentation have been included. For further information, refer to the Consolidated Financial Statements and accompanying Notes included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2019

Significant Accounting Policies

Significant Accounting Policies	3 Months Ended
	Mar. 31, 2020
New Accounting Pronouncements and Changes in Accounting Principles [Abstract]
Description of New Adopted Accounting Pronouncements	Recent Accounting Pronouncements: New Accounting Guidance Adopted: In June 2016, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") 2016-13, "Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments." ASU 2016-13 changes how entities will measure credit losses for most financial assets and certain other instruments that are not measured at fair value through net income. The new guidance will replace the current incurred loss approach with an expected loss model. The new expected credit loss impairment model applies to most financial assets measured at amortized cost and certain other instruments, including trade and other receivables, loans, held-to-maturity debt instruments, net investments in leases, loan commitments and standby letters of credit. Upon initial recognition of the exposure, the expected credit loss model requires entities to estimate the credit losses expected over the life of an exposure (or pool of exposures). The estimate of expected credit losses should consider historical information, current information and reasonable and supportable forecasts, including estimates of prepayments. Financial instruments with similar risk characteristics should be grouped together when estimating expected credit losses. ASU 2016-13 does not prescribe a specific method to make the estimate, so its application requires significant judgment. ASU 2016-13 is effective for public companies in fiscal years beginning after December 15, 2019, including interim periods within those fiscal years. The Company adopted ASU 2016-13 effective January 1, 2020, and the impact of adoption was not material to the Company's results of operations and financial condition. Refer to Note 12 - Equity for the cumulative effect of initially applying ASU 2016-13.
Organization, Consolidation and Presentation of Financial Statements Disclosure and Significant Accounting Policies [Text Block]	Note 2 - Significant Accounting Policies The Company's significant accounting policies are detailed in "Note 1 - Significant Accounting Policies" of the Annual Report on Form 10-K for the year ended December 31, 2019. Recent Accounting Pronouncements: New Accounting Guidance Adopted: In June 2016, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") 2016-13, "Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments." ASU 2016-13 changes how entities will measure credit losses for most financial assets and certain other instruments that are not measured at fair value through net income. The new guidance will replace the current incurred loss approach with an expected loss model. The new expected credit loss impairment model applies to most financial assets measured at amortized cost and certain other instruments, including trade and other receivables, loans, held-to-maturity debt instruments, net investments in leases, loan commitments and standby letters of credit. Upon initial recognition of the exposure, the expected credit loss model requires entities to estimate the credit losses expected over the life of an exposure (or pool of exposures). The estimate of expected credit losses should consider historical information, current information and reasonable and supportable forecasts, including estimates of prepayments. Financial instruments with similar risk characteristics should be grouped together when estimating expected credit losses. ASU 2016-13 does not prescribe a specific method to make the estimate, so its application requires significant judgment. ASU 2016-13 is effective for public companies in fiscal years beginning after December 15, 2019, including interim periods within those fiscal years. The Company adopted ASU 2016-13 effective January 1, 2020, and the impact of adoption was not material to the Company's results of operations and financial condition. Refer to Note 12 - Equity for the cumulative effect of initially applying ASU 2016-13.

Acquisitions (Notes)

Acquisitions (Notes)	3 Months Ended
	Mar. 31, 2020
Business Combinations [Abstract]
Business Combination Disclosure [Text Block]	Note 3 - Acquisitions During 2019 , the Company completed two acquisitions. On November 1, 2019 , the Company completed the acquisition of BEKA Lubrication ("BEKA"), a leading global supplier of automatic lubrication systems. BEKA serves a diverse range of industrial sectors, including wind, food and beverage, rail, on- and off-highway and other process industries. Headquartered in Pegnitz, Germany, BEKA has manufacturing and research and development based in Germany, and assembly facilities and sales offices around the world. On April 1, 2019 , the Company completed the acquisition of The Diamond Chain Company ("Diamond Chain"), a leading supplier of high-performance roller chains for industrial markets. Diamond Chain serves a diverse range of market sectors, including industrial distribution, material handling, food and beverage, agriculture, construction and other process industries. Diamond Chain, located in Indianapolis, Indiana, operates primarily in the United States and China. These acquisitions will be collectively referred to hereafter as the "2019 Acquisitions." The following table presents the purchase price allocation at fair value, net of cash acquired, for the 2019 Acquisitions as of March 31, 2020: Initial Purchase Adjustments Purchase Price Allocation Assets: Accounts receivable, net $ 26.3 $ (0.1 ) $ 26.2 Inventories, net 62.9 0.2 63.1 Other current assets 4.9 1.0 5.9 Property, plant and equipment, net 57.4 — 57.4 Operating lease assets 4.7 — 4.7 Goodwill 44.2 6.7 50.9 Other intangible assets 84.4 — 84.4 Other non-current assets 0.7 — 0.7 Total assets acquired $ 285.5 $ 7.8 $ 293.3 Liabilities: Accounts payable, trade $ 10.8 $ (0.2 ) $ 10.6 Salaries, wages and benefits 6.8 — 6.8 Income taxes payable 2.1 — 2.1 Other current liabilities 6.7 7.4 14.1 Short-term debt 0.8 — 0.8 Long-term debt 17.2 — 17.2 Accrued pension benefits 0.5 — 0.5 Accrued postretirement benefits 0.1 — 0.1 Long-term operating lease liabilities 4.1 — 4.1 Deferred income taxes 5.1 (0.2 ) 4.9 Other non-current liabilities 1.1 0.8 1.9 Total liabilities assumed $ 55.3 $ 7.8 $ 63.1 Noncontrolling interest acquired 1.8 — 1.8 Net assets acquired $ 228.4 $ — $ 228.4 In March 2020, the Company accrued $6.6 million for a working capital adjustment to the purchase price for BEKA in accordance with the purchase agreement, which will be paid during the second quarter of 2020. This adjustment, as well as other measurement period adjustments recorded in 2020, resulted in a $6.7 million increase to goodwill. In determining the fair value of the amounts above, the Company utilized various forms of the income, cost and market approaches depending on the asset or liability being valued. The estimation of fair value required significant judgment related to future net cash flows, discount rates, competitive trends, market comparisons and other factors. Inputs were generally determined by taking into account independent appraisals and historical data, supplemented by current and anticipated market conditions. Note 3 - Acquisitions (continued) The above purchase price allocation, including the residual amount allocated to goodwill, is based on preliminary information and is subject to change as additional information concerning final asset and liability valuations is obtained. The purchase price allocation for BEKA is preliminary as a result of the continued evaluation of working capital accounts and contingent liabilities, as well as the finalization of the Company's review pertaining to a limited set of valuation calculations and inputs. The primary areas of the BEKA purchase price allocation that have not been finalized relate to the fair value of inventory, net property, plant, and equipment and other intangible assets, and the related impacts on deferred income taxes and goodwill. During the applicable measurement period, the Company will adjust assets and liabilities if new information is obtained about facts and circumstances that existed as of the acquisition date that, if known, would have resulted in revised estimated values of those assets or liabilities as of that date. The effect of measurement period adjustments to the estimated fair values will be reflected as if the adjustments had been completed on the acquisition date.

Revenue (Notes)

Revenue (Notes)	3 Months Ended
	Mar. 31, 2020
Revenue from Contract with Customer [Abstract]
Revenue from Contract with Customer [Text Block]	The following table presents details deemed most relevant to the users of the financial statements about total revenue for the three months ended March 31, 2020 and 2019 , respectively: Three Months Ended Three Months Ended March 31, 2020 March 31, 2019 Mobile Process Total Mobile Process Total United States $ 238.2 $ 192.6 $ 430.8 $ 273.7 $ 209.7 $ 483.4 Americas excluding United States 48.8 35.0 83.8 48.5 43.6 92.1 Europe / Middle East / Africa 108.7 115.6 224.3 101.7 125.0 226.7 Asia-Pacific 71.0 113.5 184.5 76.1 101.4 177.5 Net sales $ 466.7 $ 456.7 $ 923.4 $ 500.0 $ 479.7 $ 979.7 When reviewing revenue by sales channel, the Company separates net sales to original equipment manufacturers from sales to distributors and end users. The following table presents the percent of revenue by sales channel for the three months ended March 31, 2020 and 2019 , respectively: Three Months Ended Three Months Ended Revenue by sales channel March 31, 2020 March 31, 2019 Original equipment manufacturers 59% 57% Distribution/end users 41% 43% In addition to disaggregating revenue by segment and geography and by sales channel as shown above, the Company believes information about the timing of transfer of goods or services, type of customer and distinguishing service revenue from product sales is also relevant. During the three months ended March 31, 2020 and March 31, 2019 , approximately 12% and 10% , respectively, of total net sales were recognized on an over-time basis because of the continuous transfer of control to the customer, with the remainder recognized as of a point in time. Approximately 5% of total net sales represented service revenue during the three months ended March 31, 2020 and March 31, 2019 , respectively. Finally, the United States ("U.S.") government or its contractors represented approximately 8% and 7% of total net sales during the three months ended March 31, 2020 and March 31, 2019 , respectively. Remaining Performance Obligations: Remaining performance obligations represent the transaction price of orders meeting the definition of a contract for which work has not been performed and excludes unexercised contract options. Performance obligations having a duration of more than one year are concentrated in contracts for certain products and services provided to the U.S. government or its contractors. The aggregate amount of the transaction price allocated to remaining performance obligations for such contracts with a duration of more than one year was approximately $175.4 million at March 31, 2020 . Note 4 - Revenue (continued) Unbilled Receivables: The following table contains a rollforward of unbilled receivables for the three months ended March 31, 2020 : March 31, 2020 Beginning balance, January 1 $ 129.2 Additional unbilled revenue recognized 110.7 Less: amounts billed to customers (102.5 ) Ending balance $ 137.4 There were no impairment losses recorded on unbilled receivables for the three months ended March 31, 2020 .

Segment Information

Segment Information	3 Months Ended
	Mar. 31, 2020
Segment Reporting [Abstract]
Segment Information	The primary measurement used by management to measure the financial performance of each segment is earnings before interest, taxes, depreciation and amortization ("EBITDA"). Three Months Ended 2020 2019 Net sales: Mobile Industries $ 466.7 $ 500.0 Process Industries 456.7 479.7 Net sales $ 923.4 $ 979.7 Segment EBITDA: Mobile Industries $ 75.1 $ 79.3 Process Industries 107.5 127.6 Total EBITDA, for reportable segments $ 182.6 $ 206.9 Corporate EBITDA (11.1 ) (14.1 ) Depreciation and amortization (42.3 ) (39.5 ) Interest expense (17.1 ) (18.0 ) Interest income 1.5 1.3 Income before income taxes $ 113.6 $ 136.6

Earnings Per Share

Earnings Per Share	3 Months Ended
	Mar. 31, 2020
Earnings Per Share [Abstract]
Earnings Per Share	The following table sets forth the reconciliation of the numerator and the denominator of basic earnings per share and diluted earnings per share for the three months ended March 31, 2020 and 2019 , respectively: Three Months Ended 2020 2019 Numerator: Net income attributable to The Timken Company $ 80.7 $ 91.9 Less: undistributed earnings allocated to nonvested — — Net income available to common shareholders for basic and diluted earnings per share $ 80.7 $ 91.9 Denominator: Weighted average number of shares outstanding - basic 75,461,254 75,986,285 Effect of dilutive securities: Stock options and awards - based on the treasury stock 847,302 1,026,288 Weighted average number of shares outstanding 76,308,556 77,012,573 Basic earnings per share $ 1.07 $ 1.21 Diluted earnings per share $ 1.06 $ 1.19 The exercise prices for certain stock options that the Company has awarded exceeded the average market price of the Company’s common shares during each period presented. Such stock options are antidilutive and were not included in the computation of diluted earnings per share. The antidilutive stock options outstanding during the three months ended March 31, 2020 and 2019 were 1,367,821 and 1,191,056 , respectively.

Inventories

Inventories	3 Months Ended
	Mar. 31, 2020
Inventory Disclosure [Abstract]
Inventories	The components of inventories at March 31, 2020 and December 31, 2019 were as follows: March 31, December 31, Manufacturing supplies $ 34.2 $ 34.2 Raw materials 101.2 100.0 Work in process 316.9 308.9 Finished products 411.1 439.0 Subtotal 863.4 882.1 Allowance for obsolete and surplus inventory (43.7 ) (40.1 ) Total Inventories, net $ 819.7 $ 842.0 Inventories are valued at net realizable value, with approximately 59% valued on the first-in, first-out ("FIFO") method and the remaining 41% valued on the last-in, first-out ("LIFO") method. The majority of the Company's domestic inventories are valued on the LIFO method, and all the Company's international inventories are valued on the FIFO method. The LIFO reserve at March 31, 2020 and December 31, 2019 was $164.9 million and $164.6 million , respectively. An actual valuation of the inventory under the LIFO method can be made only at the end of each year based on the inventory levels and costs at that time. Accordingly, interim LIFO calculations must be based on management’s estimates of expected year-end inventory levels and costs. Because these calculations are subject to many factors beyond management’s control, annual results may differ from interim results as they are subject to the final year-end LIFO inventory valuation. The prior year balances have been revised to align to the current year classification of the LIFO reserve and the allowance for obsolete and surplus inventory.

Financing Arrangements

Financing Arrangements	3 Months Ended
	Mar. 31, 2020
Debt Disclosure [Abstract]
Financing Arrangements	bt at March 31, 2020 and December 31, 2019 was as follows: March 31, December 31, Variable-rate Accounts Receivable Facility with an interest rate of 2.52% at March 31, 2020 and 2.77% at December 31, 2019 $ 21.9 $ 1.8 Borrowings under lines of credit for certain of the Company’s foreign subsidiaries with various banks with interest rates ranging from 0.30% to 1.75% at March 31, 2020 and 0.27% to 1.75% at December 31, 2019 87.1 15.5 Short-term debt $ 109.0 $ 17.3 The Company has a $100 million Amended and Restated Asset Securitization Agreement (the "Accounts Receivable Facility"), which matures on November 30, 2021 . Under the terms of the Accounts Receivable Facility, the Company sells, on an ongoing basis, certain domestic trade receivables to Timken Receivables Corporation, a wholly-owned consolidated subsidiary that, in turn, uses the trade receivables to secure borrowings that are funded through a vehicle that issues commercial paper in the short-term market. Borrowings under the Accounts Receivable Facility may be limited by certain borrowing base limitations; however, availability under the Accounts Receivable Facility was not reduced by any such borrowing base limitations at March 31, 2020. As of March 31, 2020, there were outstanding borrowings of $100.0 million under the Accounts Receivable Facility, which reduced the availability under this facility to zero . $21.9 million of the outstanding borrowings under the Accounts Receivable Facility was classified as short-term and reflects the Company's expectations over the next 12 months relative to the minimum borrowing base. The cost of this facility, which is the prevailing commercial paper rate plus facility fees, is considered a financing cost and is included in "Interest expense" in the Consolidated Statements of Income. The Company also maintains uncommitted lines of credit at certain foreign subsidiaries, which provide for short-term borrowings up to $263.5 million in the aggregate. At March 31, 2020 , the Company’s foreign subsidiaries had borrowings outstanding of $87.1 million and bank guarantees of $1.1 million , which reduced the aggregate availability under these facilities to $175.3 million . Long-term debt at March 31, 2020 and December 31, 2019 was as follows: March 31, December 31, Variable-rate Senior Credit Facility with an average interest rate on U.S. Dollar of 2.72% and Euro of 1.00% at March 31, 2020 and 2.85% and Euro of 1.00% at December 31, 2019 $ 296.4 $ 132.7 Variable-rate Euro Term Loan (1) , maturing on September 18, 2020, with an interest rate of 1.13% at March 31, 2020 and December 31, 2019 53.5 54.4 Variable-rate Accounts Receivable Facility with an interest rate of 2.52% at March 31, 2020 and 2.77% at December 31, 2019 78.1 98.2 Variable-rate Term Loan (1) , maturing on September 11, 2023, with an interest rate of 2.11% at March 31, 2020 and 2.92% at December 31, 2019 336.3 338.5 Fixed-rate Senior Unsecured Notes (1) , maturing on September 1, 2024, with an interest rate of 3.875% 348.6 348.5 Fixed-rate Euro Senior Unsecured Notes (1) , maturing on September 7, 2027, with an interest rate of 2.02% 165.0 167.7 Fixed-rate Senior Unsecured Notes (1) , maturing on December 15, 2028, with an interest rate of 4.50% 396.2 396.1 Fixed-rate Medium-Term Notes, Series A (1) , maturing at various dates through May 2028, with interest rates ranging from 6.74% to 7.76% 154.6 154.6 Fixed-rate Bank Loan, maturing on June 30, 2033, with an interest rate of 2.15% 17.7 18.0 Other 3.5 4.1 1,849.9 1,712.8 Less: Current maturities 64.1 64.7 Long-term debt $ 1,785.8 $ 1,648.1 (1) Net of discounts and fees Note 10 - Financing Arrangements (continued) On June 25, 2019 , the Company entered into a Fourth Amended and Restated Credit Agreement ("Senior Credit Facility"). The Senior Credit Facility is a $650.0 million unsecured revolving credit facility, which matures on June 25, 2024 . At March 31, 2020 , the Company had $296.4 million of outstanding borrowings under the Senior Credit Facility, which reduced the availability under this facility to $353.6 million . The Senior Credit Facility has two financial covenants: a consolidated leverage ratio and a consolidated interest coverage ratio. On April 3, 2020 , the Company borrowed an additional $350 million under the Senior Credit Facility, which is now almost fully drawn. The Company increased its borrowings under the Senior Credit Facility as a precautionary measure to increase its cash position and enhance its financial flexibility due to the uncertainty in the global markets resulting from the ongoing novel coronavirus (“COVID-19”) pandemic. The additional borrowings in April under the Senior Credit Facility are currently being held on the Company’s balance sheet and may be used for general corporate purposes. On November 1, 2019 , the Company assumed certain fixed-rate debt of €16 million associated with the BEKA acquisition that matures on June 30, 2033 . On September 6, 2018 , the Company issued $400 million aggregate principal amount of fixed-rate 4.50% senior unsecured notes that mature on December 15, 2028 (the "2028 Notes"). On September 11, 2018 , the Company entered into a $350 million variable-rate term loan that matures on September 11, 2023 (the "2023 Term Loan"). Proceeds from the 2028 Notes and the 2023 Term Loan were used to fund the acquisitions of Apiary Investments Holding Limited ("Cone Drive") and Rollon S.p.A. ("Rollon"), which closed on September 1, 2018 and September 18, 2018 , respectively. On July 12, 2019 , the Company amended the 2023 Term Loan agreement to, among other things, align covenants and other terms with the Senior Credit Facility. On September 18, 2017 , the Company entered into a €100 million variable-rate term loan that matures on September 18, 2020 (the "2020 Term Loan"). The Company has paid to-date a total of €51.5 million under the 2020 Term Loan, which reduced the principal balance to €48.5 million as of March 31, 2020 . At March 31, 2020 , the 2020 Term Loan was classified as current portion of long-term debt. The Company expects to service interest and repay the remaining principal balance with cash held or generated outside the U.S. At March 31, 2020 , the Company was in full compliance with all applicable covenants on its outstanding debt. In the ordinary course of business, the Company utilizes standby letters of credit issued by financial institutions to guarantee certain obligations, most of which relate to insurance contracts. At March 31, 2020, outstanding letters of credit totaled $39.0 million , primarily having expiration dates within 12 months.

Goodwill and Other Intangible A

Goodwill and Other Intangible Assets	3 Months Ended
	Mar. 31, 2020
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Other Intangible Assets	The changes in the carrying amount of goodwill for the three months ended March 31, 2020 were as follows: Mobile Industries Process Industries Total Beginning balance $ 361.3 $ 632.4 $ 993.7 Acquisitions 4.5 2.2 6.7 Foreign currency translation adjustments and other changes (6.3 ) (6.2 ) (12.5 ) Ending balance $ 359.5 $ 628.4 $ 987.9 The $6.7 million addition of goodwill from acquisitions represents measurement period adjustments recorded in 2020 for the 2019 Acquisitions. The following table displays intangible assets as of March 31, 2020 and December 31, 2019 : Balance at March 31, 2020 Balance at December 31, 2019 Gross Carrying Amount Accumulated Amortization Net Carrying Amount Gross Carrying Amount Accumulated Amortization Net Carrying Amount Intangible assets subject to amortization: Customer relationships $ 504.0 $ (135.3 ) $ 368.7 $ 510.9 $ (128.8 ) $ 382.1 Technology and know-how 261.9 (58.0 ) 203.9 265.1 (54.7 ) 210.4 Trade names 12.5 (6.2 ) 6.3 12.7 (6.1 ) 6.6 Capitalized software 271.1 (247.9 ) 23.2 270.3 (245.8 ) 24.5 Other 13.6 (9.2 ) 4.4 13.8 (9.1 ) 4.7 $ 1,063.1 $ (456.6 ) $ 606.5 $ 1,072.8 $ (444.5 ) $ 628.3 Intangible assets not subject to amortization: Trade names $ 120.1 $ 120.1 $ 121.5 $ 121.5 FAA air agency certificates 8.7 8.7 8.7 8.7 $ 128.8 $ 128.8 $ 130.2 $ 130.2 Total intangible assets $ 1,191.9 $ (456.6 ) $ 735.3 $ 1,203.0 $ (444.5 ) $ 758.5 Amortization expense for intangible assets was $14.2 million and $14.5 million for the three months ended March 31, 2020 and 2019 , respectively. Amortization expense for intangible assets is projected to be $54.3 million in 2020 ; $51.0 million in 2021 ; $46.1 million in 2022 ; $43.2 million in 2023 ; and $41.6 million in 2024 .

Contingencies (Notes)

Contingencies (Notes)	3 Months Ended
	Mar. 31, 2020
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies Disclosure [Text Block]	The Company and certain of its subsidiaries have been identified as potentially responsible parties for investigation and remediation under the Comprehensive Environmental Response, Compensation and Liability Act ("CERCLA"), known as the Superfund, or similar state laws with respect to certain sites. Claims for investigation and remediation have been asserted against numerous other entities, which are believed to be financially solvent and are expected to fulfill their proportionate share of the obligation. On December 28, 2004, the United States Environmental Protection Agency (“USEPA”) sent Lovejoy, Inc. ("Lovejoy") a Special Notice Letter that identified Lovejoy as a potentially responsible party, together with at least 14 other companies, at the Ellsworth Industrial Park Site, Downers Grove, DuPage County, Illinois (the “Site”). The Company acquired Lovejoy in 2016. Lovejoy’s Downers Grove property is situated within the Ellsworth Industrial Complex. The USEPA and the Illinois Environmental Protection Agency (“IEPA”) allege there have been one or more releases or threatened releases of hazardous substances, allegedly including, but not limited to, a release or threatened release on or from Lovejoy's property, at the Site. The relief sought by the USEPA and IEPA includes further investigation and potential remediation of the Site and reimbursement of response costs. Lovejoy’s allocated share of past and future costs related to the Site, including for investigation and/or remediation, could be significant. All previously pending property damage and personal injury lawsuits against Lovejoy related to the Site have been settled or dismissed. The Company had total environmental accruals of $5.2 million for various known environmental matters that are probable and reasonably estimable at March 31, 2020 and December 31, 2019 , respectively, which includes the Lovejoy matter discussed above. These accruals were recorded based upon the best estimate of costs to be incurred in light of the progress made in determining the magnitude of remediation costs, the timing and extent of remedial actions required by governmental authorities and the amount of the Company’s liability in proportion to other responsible parties. The Company is a defendant in a 2017 lawsuit filed in the U.S. by a former employee asserting workplace-related negligence by the Company's medical personnel. No specific amount of damages has been asserted by the plaintiff at this time. While the Company’s defense is ongoing, management’s low end of the range of probable outcomes is immaterial to the Company. Product Warranties: In addition to the contingencies above, the Company provides limited warranties on certain of its products. The product warranty liability included in "Other current liabilities" on the Consolidated Balance Sheets was $7.6 million and $7.5 million at March 31, 2020 and December 31, 2019

Equity

Equity	3 Months Ended
	Mar. 31, 2020
Equity [Abstract]
Equity	The following tables present the changes in the components of equity for the three months ended March 31, 2020 and 2019 , respectively: The Timken Company Shareholders Total Stated Capital Other Paid-In Capital Earnings Invested in the Business Accumulated Other Comprehensive (Loss) Treasury Stock Non controlling Interest Balance at December 31, 2019 $ 1,954.8 $ 53.1 $ 937.6 $ 1,907.4 $ (50.1 ) $ (979.8 ) $ 86.6 Cumulative effect of ASU 2016-13 (0.4 ) (0.4 ) Net income 84.0 80.7 3.3 Foreign currency translation adjustment (78.8 ) (71.3 ) (7.5 ) Pension and other postretirement liability (1.3 ) (1.3 ) Unrealized loss on marketable securities (0.4 ) (0.4 ) Change in fair value of derivative financial 4.2 4.2 Change in ownership of noncontrolling interest 0.5 0.5 Dividends – $0.28 per share (22.9 ) (22.9 ) Stock-based compensation expense 5.6 5.6 Stock purchased at fair market value (42.3 ) (42.3 ) Stock option exercise activity 7.5 (0.9 ) 8.4 Restricted share activity — (22.2 ) 22.2 Payments related to tax withholding for (10.2 ) (10.2 ) Balance at March 31, 2020 $ 1,900.3 $ 53.1 $ 920.1 $ 1,964.8 $ (118.9 ) $ (1,001.7 ) $ 82.9 The Timken Company Shareholders Total Stated Capital Other Paid-In Capital Earnings Invested in the Business Accumulated Other Comprehensive (Loss) Treasury Stock Non controlling Interest Balance at December 31, 2018 $ 1,642.7 $ 53.1 $ 951.9 $ 1,630.2 $ (95.3 ) $ (960.3 ) $ 63.1 Net income 95.3 91.9 3.4 Foreign currency translation adjustment (4.2 ) (5.1 ) 0.9 Pension and postretirement liability (0.1 ) (0.1 ) Change in fair value of derivative financial (0.6 ) (0.6 ) Dividends – $0.28 per share (21.3 ) (21.3 ) Stock-based compensation 7.8 7.8 Stock purchased at fair market value (8.3 ) (8.3 ) Stock option exercise activity 1.0 (0.6 ) 1.6 Restricted share activity — (20.9 ) 20.9 Payments related to tax withholding for (6.4 ) (6.4 ) Balance at March 31, 2019 $ 1,705.9 $ 53.1 $ 938.2 $ 1,700.8 $ (101.1 ) $ (952.5 ) $ 67.4

Impairment and Restructuring (N

Impairment and Restructuring (Notes)	3 Months Ended
	Mar. 31, 2020
Restructuring Cost and Reserve [Line Items]
Restructuring and Related Activities Disclosure [Text Block]	The following discussion explains the impairment and restructuring charges recorded for the periods presented; however, it is not intended to reflect a comprehensive discussion of all amounts in the tables above. Mobile Industries: On October 16, 2019 , the Company announced the reorganization of its bearing plant in Gaffney, South Carolina. The Company will be transferring its high-volume bearing production and roller production to other Timken manufacturing facilities in the United States. The transfer of these operations is expected to occur by the end of the second quarter of 2020 and is expected to affect approximately 150 employees. The Company expects to incur approximately $8 million to $10 million of pretax costs related to this reorganization. During the three months ended March 31, 2020 , the Company recognized exit costs of $0.6 million related to this closure. The Company has incurred pretax costs related to this reorganization of $4.5 million as of March 31, 2020 , including rationalization costs recorded in cost of products sold. Process Industries: On February 4, 2020 , the Company announced the closure of its chain plant in Indianapolis, Indiana. This plant was part of the Diamond Chain acquisition completed on April 1, 2019 . The Company will be transferring the manufacturing of its Diamond Chain product line to its chain facility in Fulton, Illinois. The chain plant is expected to close by the end of the fourth quarter of 2021 and is expected to affect approximately 240 employees. The Company expects to hire approximately 130 full-time positions in Fulton, Illinois and expects to incur approximately $10 million to $12 million related to this closure. During the three months ended March 31, 2020 , the Company recorded severance and related benefit costs of $1.9 million related to this closure. The Company has incurred pretax costs related to this closure of $2.2 million as of March 31, 2020 , including rationalization costs recorded in cost of products sold.

Retirement Benefit Plans

Retirement Benefit Plans	3 Months Ended
	Mar. 31, 2020
Pension Plan [Member]
Defined Benefit Plan Disclosure [Line Items]
Pension and Other Postretirement Benefits Disclosure [Text Block]	Note 14 - Retirement Benefit Plans The following table sets forth the net periodic benefit cost for the Company’s defined benefit pension plans. The amounts for the three months ended March 31, 2020 are based on calculations prepared by the Company's actuaries and represent the Company’s best estimate of that period’s proportionate share of the amounts to be recorded for the year ending December 31, 2020 . U.S. Plans International Plans Total Three Months Ended Three Months Ended Three Months Ended 2020 2019 2020 2019 2020 2019 Components of net periodic benefit cost: Service cost $ 2.7 $ 2.6 $ 0.4 $ 0.4 $ 3.1 $ 3.0 Interest cost 5.2 6.0 1.5 1.9 6.7 7.9 Expected return on plan assets (6.3 ) (6.4 ) (2.2 ) (2.6 ) (8.5 ) (9.0 ) Amortization of prior service cost 0.4 0.4 — — 0.4 0.4 Net periodic benefit cost (credit) $ 2.0 $ 2.6 $ (0.3 ) $ (0.3 ) $ 1.7 $ 2.3

Postretirement Benefit Plans

Postretirement Benefit Plans	3 Months Ended
	Mar. 31, 2020
Pension Plan [Member]
Defined Benefit Plan Disclosure [Line Items]
Pension and Other Postretirement Benefits Disclosure [Text Block]	Note 15 - Other Postretirement Benefit Plans The following table sets forth the net periodic benefit cost for the Company’s other postretirement benefit plans. The amounts for the three months ended March 31, 2020 are based on calculations prepared by the Company's actuaries and represent the Company’s best estimate of that period’s proportionate share of the amounts to be recorded for the year ending December 31, 2020 . Three Months Ended 2020 2019 Components of net periodic benefit (credit) cost: Interest cost $ 0.5 $ 1.9 Expected return on plan assets (0.1 ) (0.8 ) Amortization of prior service credit (2.4 ) (0.5 ) Net periodic benefit (credit) cost $ (2.0 ) $ 0.6 In January 2020, the Company established a second Voluntary Employee Beneficiary Association ("VEBA") trust for certain active employees’ medical benefits. The Company transferred $50 million from the existing VEBA trust to fund this new VEBA trust. The $50 million that was transferred will primarily be classified as other current assets based on the portfolio of the assets in the trust. The Company expects to fully utilize the assets of the trust in 2020 for the payment of certain active employees’ medical benefits. As of March 31, 2020, the Company had utilized $14 million of the new VEBA trust. In 2019, the Company announced changes to the medical plan offerings of certain of its postretirement benefit plans, effective January 1, 2020, which will impact the benefits provided to certain retirees. The plan amendment triggered a remeasurement, which resulted in a $92.8 million reduction in the postretirement benefit obligation and a corresponding amount of income recorded to accumulated other comprehensive loss. Beginning in third quarter of 2019, the Company began amortizing the pretax adjustment of $92.8 million from accumulated other comprehensive loss into net periodic benefit cost (as a benefit) over the next twelve years.

Accumulated Other Comprehensive

Accumulated Other Comprehensive Income	3 Months Ended
	Mar. 31, 2020
Statement of Financial Position [Abstract]
accumulated other comprehensive income components reclassification	The following tables present details about components of accumulated other comprehensive income (loss) for the three months ended March 31, 2020 and 2019 , respectively: Foreign currency translation adjustments Pension and other postretirement liability adjustments Unrealized loss on marketable securities Change in fair value of derivative financial instruments Total Balance at December 31, 2019 $ (115.3 ) $ 66.9 $ — $ (1.7 ) $ (50.1 ) Other comprehensive (loss) income before (78.8 ) 0.2 (0.5 ) 6.4 (72.7 ) Amounts reclassified from accumulated other taxes — (2.0 ) — (0.6 ) (2.6 ) Income tax (expense) benefit — 0.5 0.1 (1.6 ) (1.0 ) Net current period other comprehensive income (loss), net of income taxes (78.8 ) (1.3 ) (0.4 ) 4.2 (76.3 ) Noncontrolling interest 7.5 — — 7.5 Net current period comprehensive (loss) income, net of income taxes and noncontrolling interest (71.3 ) (1.3 ) (0.4 ) 4.2 (68.8 ) Balance at March 31, 2020 $ (186.6 ) $ 65.6 $ (0.4 ) $ 2.5 $ (118.9 ) Foreign currency translation adjustments Pension and other postretirement liability adjustments Unrealized loss on marketable securities Change in fair value of derivative financial instruments Total Balance at December 31, 2018 $ (95.6 ) $ — $ — $ 0.3 $ (95.3 ) Other comprehensive (loss) income before (4.2 ) (0.1 ) — 0.4 (3.9 ) Amounts reclassified from accumulated other taxes — — — (1.2 ) (1.2 ) Income tax benefit — — — 0.2 0.2 Net current period other comprehensive (4.2 ) (0.1 ) — (0.6 ) (4.9 ) Noncontrolling interest (0.9 ) — — — (0.9 ) Net current period comprehensive loss, net of income taxes and noncontrolling interest (5.1 ) (0.1 ) — (0.6 ) (5.8 ) Balance at March 31, 2019 $ (100.7 ) $ (0.1 ) $ — $ (0.3 ) $ (101.1 ) Other comprehensive (loss) income before reclassifications and income taxes includes the effect of foreign currency.

Fair Value

Fair Value	3 Months Ended
	Mar. 31, 2020
Fair Value Disclosures [Abstract]
Fair Value	Note 17 - Fair Value Fair value is defined as the price that would be expected to be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date (exit price). The FASB provides accounting rules that classify the inputs used to measure fair value into the following hierarchy: Level 1 – Unadjusted quoted prices in active markets for identical assets or liabilities. Level 2 – Unadjusted quoted prices in active markets for similar assets or liabilities, or unadjusted quoted prices for identical or similar assets or liabilities in markets that are not active, or inputs other than quoted prices that are observable for the asset or liability. Level 3 – Unobservable inputs for the asset or liability. The following tables present the fair value hierarchy for those financial assets and liabilities measured at fair value on a recurring basis as of March 31, 2020 and December 31, 2019 : March 31, 2020 Total Level 1 Level 2 Level 3 Assets: Cash and cash equivalents $ 385.0 $ 382.6 $ 2.4 $ — Cash and cash equivalents measured at net asset value 2.5 Restricted cash 6.5 6.5 — — Short-term investments 61.1 36.0 25.1 — Foreign currency hedges 9.1 — 9.1 — Total Assets $ 464.2 $ 425.1 $ 36.6 $ — Liabilities: Foreign currency hedges $ 0.3 $ — $ 0.3 $ — Total Liabilities $ 0.3 $ — $ 0.3 $ — December 31, 2019 Total Level 1 Level 2 Level 3 Assets: Cash and cash equivalents $ 160.7 $ 158.2 $ 2.5 $ — Cash and cash equivalents measured at net asset value 48.8 Restricted cash 6.7 6.7 — — Short-term investments 25.7 — 25.7 — Short-term investments measured at net asset value 0.1 Foreign currency hedges 7.6 — 7.6 — Total Assets $ 249.6 $ 164.9 $ 35.8 $ — Liabilities: Foreign currency hedges $ 1.4 $ — $ 1.4 $ — Total Liabilities $ 1.4 $ — $ 1.4 $ — Cash and cash equivalents are highly liquid investments with maturities of three months or less when purchased and are valued at the redemption value. Short-term investments are investments with maturities between four months and one year , and include $25.1 million of held-to-maturity debt securities valued at amortized cost as well as available-for-sale equity securities having amortized cost of $36.5 million and fair value of $36.0 million . A portion of the cash and cash equivalents and short-term investments are valued based on net asset value. The Company uses publicly available foreign currency forward and spot rates to measure the fair value of its foreign currency forward contracts. Note 17 - Fair Value (continued) In addition, the Company remeasures certain assets at fair value, using Level 3 inputs, as a result of the occurrence of triggering events such as purchase accounting for acquisitions. See Note 3 - Acquisitions for further discussion. No other material assets were measured at fair value on a nonrecurring basis during the three months ended March 31, 2020 and 2019 , respectively. Financial Instruments: The Company’s financial instruments consist primarily of cash and cash equivalents, short-term investments, accounts receivable, trade accounts payable, short-term borrowings and long-term debt. Due to their short-term nature, the carrying value of cash and cash equivalents, short-term investments, accounts receivable, trade accounts payable and short-term borrowings are a reasonable estimate of their fair value. Due to the nature of fair value calculations for variable-rate debt, the carrying value of the Company's long-term variable-rate debt is a reasonable estimate of its fair value. The fair value of the Company’s long-term fixed-rate debt, based on quoted market prices, was $1,197.6 million and $1,185.8 million at March 31, 2020 and December 31, 2019 , respectively. The carrying value of this debt was $1,085.1 million and $1,086.5 million at March 31, 2020 and December 31, 2019 , respectively. The fair value of long-term fixed-rate debt was measured using Level 2 inputs. The Company does not believe it has significant concentrations of risk associated with the counterparties to its financial instruments.

Derivatives and Hedging Activit

Derivatives and Hedging Activities (Notes)	3 Months Ended
	Mar. 31, 2020
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative Instruments and Hedging Activities Disclosure [Text Block]	Note 18 - Derivative Instruments and Hedging Activities The Company is exposed to certain risks relating to its ongoing business operations. The primary risks managed by using derivative instruments are foreign currency exchange rate risk and interest rate risk. Forward contracts on various foreign currencies are entered into in order to manage the foreign currency exchange rate risk associated with certain of the Company's commitments denominated in foreign currencies. From time to time, interest rate swaps are used to manage interest rate risk associated with the Company’s fixed and floating-rate borrowings. The Company designates certain foreign currency forward contracts as cash flow hedges of forecasted revenues and certain interest rate hedges as cash flow hedges of fixed-rate borrowings. The Company does not purchase or hold any derivative financial instruments for trading purposes. As of March 31, 2020 and December 31, 2019 , the Company had $249.8 million and $295.7 million , respectively, of outstanding foreign currency forward contracts at notional value. Refer to Note 17 - Fair Value for the fair value disclosure of derivative financial instruments. Cash Flow Hedging Strategy: For certain derivative instruments that are designated and qualify as cash flow hedges ( i.e ., hedging the exposure to variability in expected future cash flows that is attributable to a particular risk), the gain or loss on the derivative instrument is reported as a component of other comprehensive income and reclassified into earnings in the same line item associated with the forecasted transaction and in the same period or periods during which the hedged transaction affects earnings. To protect against a reduction in the value of forecasted foreign currency cash flows resulting from export sales, the Company has instituted a foreign currency cash flow hedging program. The Company hedges portions of its forecasted cash flows denominated in foreign currencies with forward contracts. When the dollar strengthens significantly against foreign currencies, the decline in the present value of future foreign currency revenue is offset by gains in the fair value of the forward contracts designated as hedges. Conversely, when the dollar weakens, the increase in the present value of future foreign currency cash flows is offset by losses in the fair value of the forward contracts. As of March 31, 2020 and December 31, 2019, the Company had $80.0 million and $87.9 million , respectively, of outstanding foreign currency forward contracts at notional value that were classified as cash flow hedges. Note 18 - Derivative Instruments and Hedging Activities (continued) The maximum length of time over which the Company hedges its exposure to the variability in future cash flows for forecast transactions is generally eighteen months or less. Purpose for Derivative Instruments not designated as Hedging Instruments: For derivative instruments that are not designated as hedging instruments, the instruments are typically forward contracts. In general, the practice is to reduce volatility by selectively hedging transaction exposures including intercompany loans, accounts payable and accounts receivable. Intercompany loans between entities with different functional currencies typically are hedged with a forward contract at the inception of the loan with a maturity date corresponding to the maturity of the loan. The revaluation of these contracts, as well as the revaluation of the underlying balance sheet items, is recorded directly to the income statement so the adjustment generally offsets the revaluation of the underlying balance sheet items to protect cash payments and reduce income statement volatility. As of March 31, 2020 and December 31, 2019 , the Company had $169.8 million and $207.8 million , respectively, of outstanding foreign currency forward contracts at notional value that were not designated as hedging instruments. The following table presents the impact of derivative instruments not designated as hedging instruments for the three and three months ended March 31, 2020 and 2019 , respectively, and the related location within the Consolidated Statements of Income: Amount of gain or (loss) recognized in income Three Months Ended Derivatives not designated as hedging instruments: Location of gain or (loss) recognized in income 2020 2019 Foreign currency forward contracts Other income (expense), net $ 5.5 $ 3.0

Acquisitions (Tables)

Acquisitions (Tables)	3 Months Ended
	Mar. 31, 2020
Business Combinations [Abstract]
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block]	The following table presents the purchase price allocation at fair value, net of cash acquired, for the 2019 Acquisitions as of March 31, 2020: Initial Purchase Adjustments Purchase Price Allocation Assets: Accounts receivable, net $ 26.3 $ (0.1 ) $ 26.2 Inventories, net 62.9 0.2 63.1 Other current assets 4.9 1.0 5.9 Property, plant and equipment, net 57.4 — 57.4 Operating lease assets 4.7 — 4.7 Goodwill 44.2 6.7 50.9 Other intangible assets 84.4 — 84.4 Other non-current assets 0.7 — 0.7 Total assets acquired $ 285.5 $ 7.8 $ 293.3 Liabilities: Accounts payable, trade $ 10.8 $ (0.2 ) $ 10.6 Salaries, wages and benefits 6.8 — 6.8 Income taxes payable 2.1 — 2.1 Other current liabilities 6.7 7.4 14.1 Short-term debt 0.8 — 0.8 Long-term debt 17.2 — 17.2 Accrued pension benefits 0.5 — 0.5 Accrued postretirement benefits 0.1 — 0.1 Long-term operating lease liabilities 4.1 — 4.1 Deferred income taxes 5.1 (0.2 ) 4.9 Other non-current liabilities 1.1 0.8 1.9 Total liabilities assumed $ 55.3 $ 7.8 $ 63.1 Noncontrolling interest acquired 1.8 — 1.8 Net assets acquired $ 228.4 $ — $ 228.4

Revenue (Tables)

Revenue (Tables)	3 Months Ended
	Mar. 31, 2020
Revenue from Contract with Customer [Abstract]
Disaggregation of Revenue [Table Text Block]	The following table presents details deemed most relevant to the users of the financial statements about total revenue for the three months ended March 31, 2020 and 2019 , respectively: Three Months Ended Three Months Ended March 31, 2020 March 31, 2019 Mobile Process Total Mobile Process Total United States $ 238.2 $ 192.6 $ 430.8 $ 273.7 $ 209.7 $ 483.4 Americas excluding United States 48.8 35.0 83.8 48.5 43.6 92.1 Europe / Middle East / Africa 108.7 115.6 224.3 101.7 125.0 226.7 Asia-Pacific 71.0 113.5 184.5 76.1 101.4 177.5 Net sales $ 466.7 $ 456.7 $ 923.4 $ 500.0 $ 479.7 $ 979.7
Contract with Customer, Asset and Liability [Table Text Block]	The following table contains a rollforward of unbilled receivables for the three months ended March 31, 2020 : March 31, 2020 Beginning balance, January 1 $ 129.2 Additional unbilled revenue recognized 110.7 Less: amounts billed to customers (102.5 ) Ending balance $ 137.4

Segment Information (Tables)

Segment Information (Tables)	3 Months Ended
	Mar. 31, 2020
Segment Reporting [Abstract]
Segment wise financial performance	The primary measurement used by management to measure the financial performance of each segment is earnings before interest, taxes, depreciation and amortization ("EBITDA"). Three Months Ended 2020 2019 Net sales: Mobile Industries $ 466.7 $ 500.0 Process Industries 456.7 479.7 Net sales $ 923.4 $ 979.7 Segment EBITDA: Mobile Industries $ 75.1 $ 79.3 Process Industries 107.5 127.6 Total EBITDA, for reportable segments $ 182.6 $ 206.9 Corporate EBITDA (11.1 ) (14.1 ) Depreciation and amortization (42.3 ) (39.5 ) Interest expense (17.1 ) (18.0 ) Interest income 1.5 1.3 Income before income taxes $ 113.6 $ 136.6

Income Taxes (Tables)

Income Taxes (Tables)	3 Months Ended
	Mar. 31, 2020
Income Taxes [Abstract]
Income Tax Disclosure [Text Block]	The Company's provision for income taxes in interim periods is computed by applying the estimated annual effective tax rates to income or loss before income taxes for the period. In addition, non-recurring or discrete items are recorded during the period(s) in which they occur. Three Months Ended 2020 2019 Provision for income taxes $ 29.6 $ 41.3 Effective tax rate 26.1 % 30.2 % Income tax expense for the three months ended March 31, 2020 was calculated using the forecasted multi-jurisdictional annual effective tax rates to determine a blended annual effective tax rate. The effective tax rate differs from the U.S. federal statutory rate of 21% primarily due to the projected mix of earnings in international jurisdictions with relatively higher tax rates and unfavorable U.S. permanent differences. The effective tax rate of 26.1% for the three months ended March 31, 2020 was lower than the three months ended March 31, 2019 primarily due to higher discrete tax expense in the previous year for uncertain tax positions related to the Tax Cuts and Jobs Act of 2017 ("U.S. Tax Reform"). The expense was partially offset by a projected increase in the mix of earnings in international jurisdictions with relatively higher tax rates. Subsequent to March 31, 2020, the European Court of Justice issued a ruling applicable to an unrelated taxpayer that concerns the scope of countries subject to exemption on withholding tax on dividends. This ruling could cause the Company to increase its accrual for uncertain tax positions for withholding taxes on certain prior year intercompany dividends made in Europe. The Company is currently evaluating the details of this case to assess its applicability to Timken and whether it will have a material impact on the provision for income taxes in the second quarter of 2020.
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block]	The Company's provision for income taxes in interim periods is computed by applying the estimated annual effective tax rates to income or loss before income taxes for the period. In addition, non-recurring or discrete items are recorded during the period(s) in which they occur. Three Months Ended 2020 2019 Provision for income taxes $ 29.6 $ 41.3 Effective tax rate 26.1 % 30.2 %

Earnings Per Share (Tables)

Earnings Per Share (Tables)	3 Months Ended
	Mar. 31, 2020
Earnings Per Share [Abstract]
Reconciliation of the numerator and the denominator of basic earnings per share and diluted earnings per share	The following table sets forth the reconciliation of the numerator and the denominator of basic earnings per share and diluted earnings per share for the three months ended March 31, 2020 and 2019 , respectively: Three Months Ended 2020 2019 Numerator: Net income attributable to The Timken Company $ 80.7 $ 91.9 Less: undistributed earnings allocated to nonvested — — Net income available to common shareholders for basic and diluted earnings per share $ 80.7 $ 91.9 Denominator: Weighted average number of shares outstanding - basic 75,461,254 75,986,285 Effect of dilutive securities: Stock options and awards - based on the treasury stock 847,302 1,026,288 Weighted average number of shares outstanding 76,308,556 77,012,573 Basic earnings per share $ 1.07 $ 1.21 Diluted earnings per share $ 1.06 $ 1.19

Inventories (Tables)

Inventories (Tables)	3 Months Ended
	Mar. 31, 2020
Inventory Disclosure [Abstract]
Components of inventories	The components of inventories at March 31, 2020 and December 31, 2019 were as follows: March 31, December 31, Manufacturing supplies $ 34.2 $ 34.2 Raw materials 101.2 100.0 Work in process 316.9 308.9 Finished products 411.1 439.0 Subtotal 863.4 882.1 Allowance for obsolete and surplus inventory (43.7 ) (40.1 ) Total Inventories, net $ 819.7 $ 842.0

Financing Arrangements (Tables)

Financing Arrangements (Tables)	3 Months Ended
	Mar. 31, 2020
Debt Disclosure [Abstract]
Short-term debt	Short-term debt at March 31, 2020 and December 31, 2019 was as follows: March 31, December 31, Variable-rate Accounts Receivable Facility with an interest rate of 2.52% at March 31, 2020 and 2.77% at December 31, 2019 $ 21.9 $ 1.8 Borrowings under lines of credit for certain of the Company’s foreign subsidiaries with various banks with interest rates ranging from 0.30% to 1.75% at March 31, 2020 and 0.27% to 1.75% at December 31, 2019 87.1 15.5 Short-term debt $ 109.0 $ 17.3
Long-term debt	Long-term debt at March 31, 2020 and December 31, 2019 was as follows: March 31, December 31, Variable-rate Senior Credit Facility with an average interest rate on U.S. Dollar of 2.72% and Euro of 1.00% at March 31, 2020 and 2.85% and Euro of 1.00% at December 31, 2019 $ 296.4 $ 132.7 Variable-rate Euro Term Loan (1) , maturing on September 18, 2020, with an interest rate of 1.13% at March 31, 2020 and December 31, 2019 53.5 54.4 Variable-rate Accounts Receivable Facility with an interest rate of 2.52% at March 31, 2020 and 2.77% at December 31, 2019 78.1 98.2 Variable-rate Term Loan (1) , maturing on September 11, 2023, with an interest rate of 2.11% at March 31, 2020 and 2.92% at December 31, 2019 336.3 338.5 Fixed-rate Senior Unsecured Notes (1) , maturing on September 1, 2024, with an interest rate of 3.875% 348.6 348.5 Fixed-rate Euro Senior Unsecured Notes (1) , maturing on September 7, 2027, with an interest rate of 2.02% 165.0 167.7 Fixed-rate Senior Unsecured Notes (1) , maturing on December 15, 2028, with an interest rate of 4.50% 396.2 396.1 Fixed-rate Medium-Term Notes, Series A (1) , maturing at various dates through May 2028, with interest rates ranging from 6.74% to 7.76% 154.6 154.6 Fixed-rate Bank Loan, maturing on June 30, 2033, with an interest rate of 2.15% 17.7 18.0 Other 3.5 4.1 1,849.9 1,712.8 Less: Current maturities 64.1 64.7 Long-term debt $ 1,785.8 $ 1,648.1

Goodwill and Other Intangible_2

Goodwill and Other Intangible Assets (Tables)	3 Months Ended
	Mar. 31, 2020
Goodwill and Intangible Assets Disclosure [Abstract]
Change in the carrying amount of goodwill	The changes in the carrying amount of goodwill for the three months ended March 31, 2020 were as follows: Mobile Industries Process Industries Total Beginning balance $ 361.3 $ 632.4 $ 993.7 Acquisitions 4.5 2.2 6.7 Foreign currency translation adjustments and other changes (6.3 ) (6.2 ) (12.5 ) Ending balance $ 359.5 $ 628.4 $ 987.9
Intangible assets	The following table displays intangible assets as of March 31, 2020 and December 31, 2019 : Balance at March 31, 2020 Balance at December 31, 2019 Gross Carrying Amount Accumulated Amortization Net Carrying Amount Gross Carrying Amount Accumulated Amortization Net Carrying Amount Intangible assets subject to amortization: Customer relationships $ 504.0 $ (135.3 ) $ 368.7 $ 510.9 $ (128.8 ) $ 382.1 Technology and know-how 261.9 (58.0 ) 203.9 265.1 (54.7 ) 210.4 Trade names 12.5 (6.2 ) 6.3 12.7 (6.1 ) 6.6 Capitalized software 271.1 (247.9 ) 23.2 270.3 (245.8 ) 24.5 Other 13.6 (9.2 ) 4.4 13.8 (9.1 ) 4.7 $ 1,063.1 $ (456.6 ) $ 606.5 $ 1,072.8 $ (444.5 ) $ 628.3 Intangible assets not subject to amortization: Trade names $ 120.1 $ 120.1 $ 121.5 $ 121.5 FAA air agency certificates 8.7 8.7 8.7 8.7 $ 128.8 $ 128.8 $ 130.2 $ 130.2 Total intangible assets $ 1,191.9 $ (456.6 ) $ 735.3 $ 1,203.0 $ (444.5 ) $ 758.5

Equity (Tables)

Equity (Tables)	3 Months Ended
	Mar. 31, 2020
Equity [Abstract]
Equity	The following tables present the changes in the components of equity for the three months ended March 31, 2020 and 2019 , respectively: The Timken Company Shareholders Total Stated Capital Other Paid-In Capital Earnings Invested in the Business Accumulated Other Comprehensive (Loss) Treasury Stock Non controlling Interest Balance at December 31, 2019 $ 1,954.8 $ 53.1 $ 937.6 $ 1,907.4 $ (50.1 ) $ (979.8 ) $ 86.6 Cumulative effect of ASU 2016-13 (0.4 ) (0.4 ) Net income 84.0 80.7 3.3 Foreign currency translation adjustment (78.8 ) (71.3 ) (7.5 ) Pension and other postretirement liability (1.3 ) (1.3 ) Unrealized loss on marketable securities (0.4 ) (0.4 ) Change in fair value of derivative financial 4.2 4.2 Change in ownership of noncontrolling interest 0.5 0.5 Dividends – $0.28 per share (22.9 ) (22.9 ) Stock-based compensation expense 5.6 5.6 Stock purchased at fair market value (42.3 ) (42.3 ) Stock option exercise activity 7.5 (0.9 ) 8.4 Restricted share activity — (22.2 ) 22.2 Payments related to tax withholding for (10.2 ) (10.2 ) Balance at March 31, 2020 $ 1,900.3 $ 53.1 $ 920.1 $ 1,964.8 $ (118.9 ) $ (1,001.7 ) $ 82.9 The Timken Company Shareholders Total Stated Capital Other Paid-In Capital Earnings Invested in the Business Accumulated Other Comprehensive (Loss) Treasury Stock Non controlling Interest Balance at December 31, 2018 $ 1,642.7 $ 53.1 $ 951.9 $ 1,630.2 $ (95.3 ) $ (960.3 ) $ 63.1 Net income 95.3 91.9 3.4 Foreign currency translation adjustment (4.2 ) (5.1 ) 0.9 Pension and postretirement liability (0.1 ) (0.1 ) Change in fair value of derivative financial (0.6 ) (0.6 ) Dividends – $0.28 per share (21.3 ) (21.3 ) Stock-based compensation 7.8 7.8 Stock purchased at fair market value (8.3 ) (8.3 ) Stock option exercise activity 1.0 (0.6 ) 1.6 Restricted share activity — (20.9 ) 20.9 Payments related to tax withholding for (6.4 ) (6.4 ) Balance at March 31, 2019 $ 1,705.9 $ 53.1 $ 938.2 $ 1,700.8 $ (101.1 ) $ (952.5 ) $ 67.4

Impairment and Restructuring (T

Impairment and Restructuring (Tables)	3 Months Ended
	Mar. 31, 2020
Restructuring Cost and Reserve [Line Items]
Restructuring, Impairment, and Other Activities Disclosure [Text Block]	For the three months ended March 31, 2020 : Mobile Industries Process Industries Corporate Total Impairment charges $ — $ 0.1 $ — $ 0.1 Severance and related benefit costs 0.1 2.5 0.1 2.7 Exit costs 0.6 0.2 — 0.8 Total $ 0.7 $ 2.8 $ 0.1 $ 3.6 There were no impairment and restructuring charges for the three months ended March 31, 2019 .
Restructuring and Related Costs [Table Text Block]	The following is a rollforward of the consolidated restructuring accrual for the three months ended March 31, 2020 : March 31, Beginning balance, January 1 $ 2.7 Expense 3.5 Payments (1.7 ) Ending balance $ 4.5 The restructuring accrual at March 31, 2020 was included in other current liabilities on the Consolidated Balance Sheets.

Retirement Benefit Plans (Table

Retirement Benefit Plans (Tables)	3 Months Ended
	Mar. 31, 2020
Pension Plan [Member]
Defined Benefit Plan Disclosure [Line Items]
Net periodic benefit cost for the Company's retirement benefit plans	The following table sets forth the net periodic benefit cost for the Company’s defined benefit pension plans. The amounts for the three months ended March 31, 2020 are based on calculations prepared by the Company's actuaries and represent the Company’s best estimate of that period’s proportionate share of the amounts to be recorded for the year ending December 31, 2020 . U.S. Plans International Plans Total Three Months Ended Three Months Ended Three Months Ended 2020 2019 2020 2019 2020 2019 Components of net periodic benefit cost: Service cost $ 2.7 $ 2.6 $ 0.4 $ 0.4 $ 3.1 $ 3.0 Interest cost 5.2 6.0 1.5 1.9 6.7 7.9 Expected return on plan assets (6.3 ) (6.4 ) (2.2 ) (2.6 ) (8.5 ) (9.0 ) Amortization of prior service cost 0.4 0.4 — — 0.4 0.4 Net periodic benefit cost (credit) $ 2.0 $ 2.6 $ (0.3 ) $ (0.3 ) $ 1.7 $ 2.3

Postretirement Benefit Plans (T

Postretirement Benefit Plans (Tables)	3 Months Ended
	Mar. 31, 2020
Postretirement Benefit Plans [Member]
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Schedule of Defined Benefit Plans Disclosures [Table Text Block]	The following table sets forth the net periodic benefit cost for the Company’s other postretirement benefit plans. The amounts for the three months ended March 31, 2020 are based on calculations prepared by the Company's actuaries and represent the Company’s best estimate of that period’s proportionate share of the amounts to be recorded for the year ending December 31, 2020 . Three Months Ended 2020 2019 Components of net periodic benefit (credit) cost: Interest cost $ 0.5 $ 1.9 Expected return on plan assets (0.1 ) (0.8 ) Amortization of prior service credit (2.4 ) (0.5 ) Net periodic benefit (credit) cost $ (2.0 ) $ 0.6 In January 2020, the Company established a second Voluntary Employee Beneficiary Association ("VEBA") trust for certain active employees’ medical benefits. The Company transferred $50 million from the existing VEBA trust to fund this new VEBA trust. The $50 million that was transferred will primarily be classified as other current assets based on the portfolio of the assets in the trust. The Company expects to fully utilize the assets of the trust in 2020 for the payment of certain active employees’ medical benefits. As of March 31, 2020, the Company had utilized $14 million of the new VEBA trust. In 2019, the Company announced changes to the medical plan offerings of certain of its postretirement benefit plans, effective January 1, 2020, which will impact the benefits provided to certain retirees. The plan amendment triggered a remeasurement, which resulted in a $92.8 million reduction in the postretirement benefit obligation and a corresponding amount of income recorded to accumulated other comprehensive loss. Beginning in third quarter of 2019, the Company began amortizing the pretax adjustment of $92.8 million from accumulated other comprehensive loss into net periodic benefit cost (as a benefit) over the next twelve years.

Accumulated Other Comprehensi_2

Accumulated Other Comprehensive Income (Tables)	3 Months Ended
	Mar. 31, 2020
Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block]	The following tables present details about components of accumulated other comprehensive income (loss) for the three months ended March 31, 2020 and 2019 , respectively: Foreign currency translation adjustments Pension and other postretirement liability adjustments Unrealized loss on marketable securities Change in fair value of derivative financial instruments Total Balance at December 31, 2019 $ (115.3 ) $ 66.9 $ — $ (1.7 ) $ (50.1 ) Other comprehensive (loss) income before (78.8 ) 0.2 (0.5 ) 6.4 (72.7 ) Amounts reclassified from accumulated other taxes — (2.0 ) — (0.6 ) (2.6 ) Income tax (expense) benefit — 0.5 0.1 (1.6 ) (1.0 ) Net current period other comprehensive income (loss), net of income taxes (78.8 ) (1.3 ) (0.4 ) 4.2 (76.3 ) Noncontrolling interest 7.5 — — 7.5 Net current period comprehensive (loss) income, net of income taxes and noncontrolling interest (71.3 ) (1.3 ) (0.4 ) 4.2 (68.8 ) Balance at March 31, 2020 $ (186.6 ) $ 65.6 $ (0.4 ) $ 2.5 $ (118.9 ) Foreign currency translation adjustments Pension and other postretirement liability adjustments Unrealized loss on marketable securities Change in fair value of derivative financial instruments Total Balance at December 31, 2018 $ (95.6 ) $ — $ — $ 0.3 $ (95.3 ) Other comprehensive (loss) income before (4.2 ) (0.1 ) — 0.4 (3.9 ) Amounts reclassified from accumulated other taxes — — — (1.2 ) (1.2 ) Income tax benefit — — — 0.2 0.2 Net current period other comprehensive (4.2 ) (0.1 ) — (0.6 ) (4.9 ) Noncontrolling interest (0.9 ) — — — (0.9 ) Net current period comprehensive loss, net of income taxes and noncontrolling interest (5.1 ) (0.1 ) — (0.6 ) (5.8 ) Balance at March 31, 2019 $ (100.7 ) $ (0.1 ) $ — $ (0.3 ) $ (101.1 )

Fair Value (Tables)

Fair Value (Tables)	3 Months Ended
	Mar. 31, 2020
Fair Value Disclosures [Abstract]
Assets and liabilities measured at fair value on a recurring basis	The following tables present the fair value hierarchy for those financial assets and liabilities measured at fair value on a recurring basis as of March 31, 2020 and December 31, 2019 : March 31, 2020 Total Level 1 Level 2 Level 3 Assets: Cash and cash equivalents $ 385.0 $ 382.6 $ 2.4 $ — Cash and cash equivalents measured at net asset value 2.5 Restricted cash 6.5 6.5 — — Short-term investments 61.1 36.0 25.1 — Foreign currency hedges 9.1 — 9.1 — Total Assets $ 464.2 $ 425.1 $ 36.6 $ — Liabilities: Foreign currency hedges $ 0.3 $ — $ 0.3 $ — Total Liabilities $ 0.3 $ — $ 0.3 $ — December 31, 2019 Total Level 1 Level 2 Level 3 Assets: Cash and cash equivalents $ 160.7 $ 158.2 $ 2.5 $ — Cash and cash equivalents measured at net asset value 48.8 Restricted cash 6.7 6.7 — — Short-term investments 25.7 — 25.7 — Short-term investments measured at net asset value 0.1 Foreign currency hedges 7.6 — 7.6 — Total Assets $ 249.6 $ 164.9 $ 35.8 $ — Liabilities: Foreign currency hedges $ 1.4 $ — $ 1.4 $ — Total Liabilities $ 1.4 $ — $ 1.4 $ —

Derivatives and Hedging Activ_2

Derivatives and Hedging Activities (Table)	3 Months Ended
	Mar. 31, 2020
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivatives Not Designated as Hedging Instruments [Table Text Block]	The following table presents the impact of derivative instruments not designated as hedging instruments for the three and three months ended March 31, 2020 and 2019 , respectively, and the related location within the Consolidated Statements of Income: Amount of gain or (loss) recognized in income Three Months Ended Derivatives not designated as hedging instruments: Location of gain or (loss) recognized in income 2020 2019 Foreign currency forward contracts Other income (expense), net $ 5.5 $ 3.0

Recent Accounting Pronouncement

Recent Accounting Pronouncements Table (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Dec. 31, 2019	Dec. 31, 2018
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Other comprehensive income	$ (76.3)	$ (4.9)
Operating Lease, Right-of-Use Asset	112.8		$ 114.1
Intangible Assets, Net (Excluding Goodwill)	735.3		758.5
Other Assets, Noncurrent	(15.7)		(18)
Accounts Receivable, after Allowance for Credit Loss, Current	(577.7)		(545.1)
Revenue from Contract with Customer, Excluding Assessed Tax	923.4	979.7
Cost of Goods and Services Sold	644.5	677.1
Gross Profit	278.9	302.6
Selling, General and Administrative Expense	153.6	152.7
Operating Income (Loss)	121.7	149.9
Income (Loss) Before Income Taxes	113.6	136.6
New Accounting Pronouncement or Change in Accounting Principle, Cumulative Effect of Change on Equity or Net Assets	4,980		4,859.9
Unbilled Receivables, Asset, Net	137.4		129.2
Inventory, Net	(819.7)		(842)
Other Assets, Current	127.7		105.4
Other Liabilities, Current	168		172.3
Assets, Current	2,092.2		1,874.6
Total Assets	4,980		4,859.9
Stockholders' Equity Attributable to Parent	1,817.4		1,868.2
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest	1,900.3	1,705.9	1,954.8	$ 1,642.7
Increase (Decrease) in Other Accrued Liabilities	(34.3)	(58)
Cumulative Effect on Retained Earnings, Tax	29.6	41.3
Other Nonoperating Income (Expense)	4.1	3.3
Net income	84	95.3
Net Income (Loss) Attributable to Parent	$ 80.7	$ 91.9
Basic earnings per share	$ 1.07	$ 1.21
Diluted earnings per share	$ 1.06	$ 1.19
Deferred Income Tax Expense (Benefit)	$ (5.1)	$ 0.4
Increase (Decrease) in Accounts Receivable	47.6	65
Increase (Decrease) in Inventories	(0.3)	4.1
Increase (Decrease) in Other Operating Assets and Liabilities, Net	(11.4)	(1.9)
Net Cash Provided by Operating Activities	56.2	52.3
Restricted cash	6.5		6.7
Retained Earnings (Accumulated Deficit)	1,964.8	$ 1,700.8	1,907.4	$ 1,630.2
Operating Lease, Liability, Current	28.6		28.3
Operating Lease, Liability, Noncurrent	70.8		$ 71.3
Accounting Standards Update 2016-13 [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Other comprehensive income	$ (0.4)

Acquisitions (Details)

Acquisitions (Details) - USD ($) $ in Millions	Nov. 01, 2019	Apr. 01, 2019	Sep. 18, 2018	Sep. 01, 2018	Mar. 31, 2020	Mar. 31, 2019	Dec. 31, 2019
Business Acquisition [Line Items]
Acquisitions, net of cash received					$ 0	$ 2.9
Operating Lease, Right-of-Use Asset					112.8		$ 114.1
Goodwill					987.9		993.7
Business Combination, Acquisition of Less than 100 Percent, Noncontrolling Interest, Fair Value					0.5
2019 Acquisitions [Member]
Business Acquisition [Line Items]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Assets, Receivables					26.2		26.3
Goodwill, Purchase Accounting Adjustments					(6.7)
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Inventory					63.1		62.9
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Assets, Other					5.9		4.9
Business Combination, Provisional Information, Initial Accounting Incomplete, Adjustment, Financial Assets					7.8
Business Combination, Provisional Information, Initial Accounting Incomplete, Adjustment, Consideration Transferred					0
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Property, Plant, and Equipment					57.4		57.4
Operating Lease, Right-of-Use Asset					4.7		4.7
Goodwill					50.9		44.2
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill					84.4		84.4
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Other Noncurrent Assets					0.7		0.7
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets					293.3		285.5
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Liabilities, Accounts Payable					10.6		10.8
Business Combination, Provisional Information, Initial Accounting Incomplete, Adjustment, Financial Liabilities					7.8
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Noncurrent Liabilities, Long-term Debt					17.2		17.2
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Deferred Tax Liabilities					4.9		5.1
Business Combination, Acquisition of Less than 100 Percent, Noncontrolling Interest, Fair Value					1.8		1.8
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Liabilities					63.1		55.3
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Net					228.4		228.4
Diamond Chain [Member]
Business Acquisition [Line Items]
Business Acquisition, Effective Date of Acquisition		Apr. 1, 2019
2018 Acquisitions [Member]
Business Acquisition [Line Items]
Working Capital Purchase Price Adjustment, Acquisitions					6.6
Cone Drive [Member]
Business Acquisition [Line Items]
Business Acquisition, Effective Date of Acquisition			Sep. 18, 2018
Cone Drive [Member]
Business Acquisition [Line Items]
Business Acquisition, Effective Date of Acquisition				Sep. 1, 2018
BEKA [Member]
Business Acquisition [Line Items]
Business Acquisition, Effective Date of Acquisition	Nov. 1, 2019
Accounts Receivable [Member] | 2019 Acquisitions [Member]
Business Acquisition [Line Items]
Business Combination, Provisional Information, Initial Accounting Incomplete, Adjustment, Financial Assets					(0.1)
Leases, Acquired-in-Place [Member] | 2019 Acquisitions [Member]
Business Acquisition [Line Items]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Liabilities, Other					4.1		4.1
Inventories, net [Member] | 2019 Acquisitions [Member]
Business Acquisition [Line Items]
Business Combination, Provisional Information, Initial Accounting Incomplete, Adjustment, Financial Assets					0.2
Other Current Assets [Member] | 2019 Acquisitions [Member]
Business Acquisition [Line Items]
Business Combination, Provisional Information, Initial Accounting Incomplete, Adjustment, Financial Assets					1
Property, plant and equipment, net [Member] | 2019 Acquisitions [Member]
Business Acquisition [Line Items]
Business Combination, Provisional Information, Initial Accounting Incomplete, Adjustment, Financial Assets					0
Other Intangible Assets [Member] | 2019 Acquisitions [Member]
Business Acquisition [Line Items]
Business Combination, Provisional Information, Initial Accounting Incomplete, Adjustment, Financial Assets					0
Other Noncurrent Assets [Member] | 2019 Acquisitions [Member]
Business Acquisition [Line Items]
Business Combination, Provisional Information, Initial Accounting Incomplete, Adjustment, Financial Assets					0
Accounts Payable and Accrued Liabilities [Member] | 2019 Acquisitions [Member]
Business Acquisition [Line Items]
Business Combination, Provisional Information, Initial Accounting Incomplete, Adjustment, Financial Liabilities					(0.2)
Accrued Liabilities [Member] | 2019 Acquisitions [Member]
Business Acquisition [Line Items]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Liabilities, Other					6.8		6.8
Income Taxes Payable [Member] | 2019 Acquisitions [Member]
Business Acquisition [Line Items]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Liabilities, Other					2.1		2.1
Business Combination, Provisional Information, Initial Accounting Incomplete, Adjustment, Financial Liabilities					0
Other Current Liabilities [Member] | 2019 Acquisitions [Member]
Business Acquisition [Line Items]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Liabilities, Other					14.1		6.7
Business Combination, Provisional Information, Initial Accounting Incomplete, Adjustment, Financial Liabilities					7.4
Short-term Debt [Member] | 2019 Acquisitions [Member]
Business Acquisition [Line Items]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Liabilities, Other					0.8		0.8
Business Combination, Provisional Information, Initial Accounting Incomplete, Adjustment, Financial Liabilities					0
Long-term Debt [Member] | 2019 Acquisitions [Member]
Business Acquisition [Line Items]
Business Combination, Provisional Information, Initial Accounting Incomplete, Adjustment, Financial Liabilities					0
Deferred Tax Liability [Member] | 2019 Acquisitions [Member]
Business Acquisition [Line Items]
Business Combination, Provisional Information, Initial Accounting Incomplete, Adjustment, Financial Liabilities					(0.2)
Other Noncurrent Liabilities [Member] | 2019 Acquisitions [Member]
Business Acquisition [Line Items]
Business Combination, Provisional Information, Initial Accounting Incomplete, Adjustment, Financial Liabilities					0.8
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Noncurrent Liabilities, Other					1.9		1.1
Noncontrolling Interest [Member] | 2019 Acquisitions [Member]
Business Acquisition [Line Items]
Business Combination, Provisional Information, Initial Accounting Incomplete, Adjustment, Financial Liabilities					0
Pension Plan [Member] | 2019 Acquisitions [Member]
Business Acquisition [Line Items]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Noncurrent Liabilities, Other					0.5		0.5
Postretirement Benefit Plans [Member] | 2019 Acquisitions [Member]
Business Acquisition [Line Items]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Noncurrent Liabilities, Other					$ 0.1		$ 0.1

Revenue Disaggregation of Reven

Revenue Disaggregation of Revenue (Details) - USD ($)	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Dec. 31, 2019
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	$ 923,400,000	$ 979,700,000
Unbilled Receivables, Current	(137,400,000)		$ (129,200,000)
Increase (Decrease) in Cost in Excess of Billing on Uncompleted Contract	110,700,000
Contract with Customer, Asset, Reclassified to Receivable	102,500,000
Revenue, Remaining Performance Obligation, Amount	175,400,000
U.S. Government [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	0.08	0.07
Sales Channel, Directly to Consumer [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	0.59	0.57
Sales Channel, Through Intermediary [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	0.41	0.43
Transferred over Time [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	0.12	0.10
UNITED STATES
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	430,800,000	483,400,000
Canada Mexico and South America [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	83,800,000	92,100,000
EMEA [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	224,300,000	226,700,000
Asia Pacific [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	184,500,000	177,500,000
Mobile Industries [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	466,700,000	500,000,000
Mobile Industries [Member] | UNITED STATES
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	238,200,000	273,700,000
Mobile Industries [Member] | Canada Mexico and South America [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	48,800,000	48,500,000
Mobile Industries [Member] | EMEA [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	108,700,000	101,700,000
Mobile Industries [Member] | Asia Pacific [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	71,000,000	76,100,000
Process Industries [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	456,700,000	479,700,000
Process Industries [Member] | UNITED STATES
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	192,600,000	209,700,000
Process Industries [Member] | Canada Mexico and South America [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	35,000,000	43,600,000
Process Industries [Member] | EMEA [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	115,600,000	125,000,000
Process Industries [Member] | Asia Pacific [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	113,500,000	101,400,000
Service Revenue [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	$ 0.05	$ 0.05

Segment Information (Details)

Segment Information (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Segment Reporting Information [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	$ 923.4	$ 979.7
Segment EBIT:
Interest expense	(17.1)	(18)
Depreciation, Depletion and Amortization	(42.3)	(39.5)
Investment Income, Interest	1.5	1.3
Income (Loss) Before Income Taxes	113.6	136.6
Reportable Segments [Member]
Segment EBIT:
Earnings Before Interest, Tax, Depreciation and Amortization	182.6	206.9
Corporate Segment [Member]
Segment EBIT:
Earnings Before Interest, Tax, Depreciation and Amortization	(11.1)	(14.1)
Mobile Industries [Member]
Segment Reporting Information [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	466.7	500
Segment EBIT:
Earnings Before Interest, Tax, Depreciation and Amortization	75.1	79.3
Process Industries [Member]
Segment Reporting Information [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	456.7	479.7
Segment EBIT:
Earnings Before Interest, Tax, Depreciation and Amortization	$ 107.5	$ 127.6

Income Taxes (Details Textual)

Income Taxes (Details Textual) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Sep. 30, 2018
Excluding discrete items [Line Items]
Provision (benefit) for income taxes	$ 29.6	$ 41.3
Effective Income Tax Rate Reconciliation, Percent	26.10%	30.20%	30.20%
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent	21.00%
Deferred Income Tax Expense (Benefit)	$ (5.1)	$ 0.4

Earnings Per Share (Details)

Earnings Per Share (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Numerator:
Net Income (Loss) Attributable to Parent	$ 80.7	$ 91.9
Less Undistributed Earnings (Loss) Allocated to Nonvested Stock	$ 0	$ 0
Denominator:
Weighted Average Number of Shares Outstanding, Basic	75,461,254	75,986,285
Incremental Common Shares Attributable to Dilutive Effect of Share-based Payment Arrangements	847,302	1,026,288
Weighted average number of shares outstanding, assuming dilution of stock options and awards	76,308,556	77,012,573
Basic earnings per share	$ 1.07	$ 1.21
Diluted earnings per share	$ 1.06	$ 1.19

Earnings Per Share (Details Tex

Earnings Per Share (Details Textual) - shares	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Earnings Per Share (Textual) [Abstract]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	1,367,821	1,191,056

Inventories (Details)

Inventories (Details) - USD ($) $ in Millions	Mar. 31, 2020	Dec. 31, 2019
Inventories, net:
Manufacturing supplies	$ 34.2	$ 34.2
Raw materials	101.2	100
Work in process	316.9	308.9
Inventory, Finished Goods, Gross	411.1	439
Subtotal	863.4	882.1
Allowance for obsolete and surplus inventory	(43.7)	(40.1)
Total Inventories, net	$ 819.7	$ 842

Inventories (Details Textual)

Inventories (Details Textual) - USD ($) $ in Millions	Mar. 31, 2020	Dec. 31, 2019
Percentage of LIFO Inventory	41.00%
Percentage of FIFO Inventory	59.00%
Inventory Reserve (LIFO)	$ 164.9	$ 164.6

Financing Arrangements (Details

Financing Arrangements (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2020	Dec. 31, 2019
Short-term Debt [Line Items]
Short-term debt	$ 109	$ 17.3
Line of Credit Accounts Receivable Securitization [Member]
Short-term Debt [Line Items]
Long-term Debt, Percentage Bearing Variable Interest, Percentage Rate	2.52%	2.77%
Short-term debt	$ 21.9	$ 1.8
Foreign Subsidiary [Member]
Short-term Debt [Line Items]
Line of Credit Stated Variable Interest Rate Low Range	0.30%	0.27%
Short-term debt	$ 87.1	$ 15.5
Euro Term Loan - Variable Rate [Member]
Short-term Debt [Line Items]
Long-term Debt, Percentage Bearing Variable Interest, Percentage Rate	1.13%	1.13%
Senior Unsecured Notes - 3.875% [Member]
Short-term Debt [Line Items]
Debt Instrument, Interest Rate, Stated Percentage	3.875%
Debt Instrument, Maturity Date	Sep. 1, 2024
Series A Medium Term Note [Member]
Short-term Debt [Line Items]
Debt Instrument, Maturity Date	May 1, 2028
Series A Medium Term Note [Member] | Maximum [Member]
Short-term Debt [Line Items]
Debt Instrument, Interest Rate, Stated Percentage	7.76%
Series A Medium Term Note [Member] | Minimum [Member]
Short-term Debt [Line Items]
Debt Instrument, Interest Rate, Stated Percentage	6.74%
Euro Senior Unsecured Notes - 2.02% [Member]
Short-term Debt [Line Items]
Debt Instrument, Interest Rate, Stated Percentage	2.02%

Goodwill and Other Intangible_3

Goodwill and Other Intangible Assets (Details) $ in Millions	3 Months Ended
	Mar. 31, 2020USD ($)
Goodwill [Line Items]
Goodwill, Acquired During Period	$ 6.7
Goodwill, Other Increase (Decrease)	12.5
Change in the carrying amount of Goodwill
Goodwill, Beginning Balance	993.7
Goodwill, Ending Balance	987.9
Mobile Industries [Member]
Goodwill [Line Items]
Goodwill, Acquired During Period	4.5
Goodwill, Other Increase (Decrease)	(6.3)
Change in the carrying amount of Goodwill
Goodwill, Beginning Balance	361.3
Goodwill, Ending Balance	359.5
Process Industries [Member]
Goodwill [Line Items]
Goodwill, Acquired During Period	2.2
Goodwill, Other Increase (Decrease)	(6.2)
Change in the carrying amount of Goodwill
Goodwill, Beginning Balance	632.4
Goodwill, Ending Balance	$ 628.4

Financing Arrangements (Detai_2

Financing Arrangements (Details 1) € in Millions, $ in Millions	Mar. 31, 2020EUR (€)	Mar. 31, 2020USD ($)	Dec. 31, 2019USD ($)
Long-term debt
Total Long-term debt		$ 1,849.9	$ 1,712.8
Less current maturities		64.1	64.7
Long-term debt		$ 1,785.8	1,648.1
Senior Unsecured Notes - 3.875% [Member]
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Stated Percentage	3.875%	3.875%
Euro Senior Unsecured Notes - 2.02% [Member]
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Stated Percentage	2.02%	2.02%
Fixed Rate Bank Loan (BEKA) [Member]
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Stated Percentage	2.15%	2.15%
Long-term debt
Total Long-term debt		$ 17.7	18
Senior Unsecured Notes - 4.5% [Member]
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Stated Percentage	4.50%	4.50%
Long-term debt
Total Long-term debt		$ 396.2	396.1
Other Long Term Debt [Member]
Long-term debt
Total Long-term debt		3.5	4.1
Euro Term Loan - Variable Rate [Member]
Long-term debt
Total Long-term debt	€ 48.5	53.5	54.4
Euro Senior Unsecured Notes - 2.02% [Member]
Long-term debt
Total Long-term debt		165	167.7
Senior Unsecured Notes - Variable Rate [Member]
Debt Instrument [Line Items]
Line of Credit Facility, Remaining Borrowing Capacity		353.6
Long-term debt
Total Long-term debt		296.4	132.7
Senior Unsecured Notes - 3.875% [Member]
Long-term debt
Total Long-term debt		348.6	348.5
Series A Medium Term Note [Member]
Long-term debt
Total Long-term debt		$ 154.6	$ 154.6
Line of Credit Accounts Receivable Securitization [Member]
Debt Instrument [Line Items]
Long-term Debt, Percentage Bearing Variable Interest, Percentage Rate	2.52%	2.52%	2.77%
Line of Credit Facility, Remaining Borrowing Capacity		$ 0
Long-term debt
Total Long-term debt		78.1	$ 98.2
Term Loan - Variable Rate [Member]
Long-term debt
Total Long-term debt		$ 336.3	$ 338.5

Goodwill and Other Intangible_4

Goodwill and Other Intangible Assets (Details 1) - USD ($) $ in Millions	Mar. 31, 2020	Dec. 31, 2019
Intangible assets subject to amortization:
Intangible assets, Gross Carrying Amount	$ 1,063.1	$ 1,072.8
Intangible assets, Accumulated Amortization	(456.6)	(444.5)
Intangible assets, Net Carrying Amount	606.5	628.3
Intangible assets not subject to amortization:
Trade name	120.1	121.5
FAA air agency certificates	8.7	8.7
Indefinite Lived Intangible Assets Net	128.8	130.2
Total intangible assets, Gross Carrying Amount	1,191.9	1,203
Total intangible assets, Net Carrying Amount	735.3	758.5
Customer Relationships [Member]
Intangible assets subject to amortization:
Intangible assets, Gross Carrying Amount	504	510.9
Intangible assets, Accumulated Amortization	(135.3)	(128.8)
Intangible assets, Net Carrying Amount	368.7	382.1
Technology-Based Intangible Assets [Member]
Intangible assets subject to amortization:
Intangible assets, Gross Carrying Amount	261.9	265.1
Intangible assets, Accumulated Amortization	(58)	(54.7)
Intangible assets, Net Carrying Amount	203.9	210.4
Trademarks [Member]
Intangible assets subject to amortization:
Intangible assets, Gross Carrying Amount	12.5	12.7
Intangible assets, Accumulated Amortization	(6.2)	(6.1)
Intangible assets, Net Carrying Amount	6.3	6.6
Computer Software, Intangible Asset [Member]
Intangible assets subject to amortization:
Intangible assets, Gross Carrying Amount	271.1	270.3
Intangible assets, Accumulated Amortization	(247.9)	(245.8)
Intangible assets, Net Carrying Amount	23.2	24.5
Unclassified Indefinite-lived Intangible Assets [Member]
Intangible assets subject to amortization:
Intangible assets, Gross Carrying Amount	13.6	13.8
Intangible assets, Accumulated Amortization	(9.2)	(9.1)
Intangible assets, Net Carrying Amount	$ 4.4	$ 4.7

Financing Arrangements (Detai_3

Financing Arrangements (Details Textual) € in Millions, $ in Millions

Apr. 03, 2020USD ($)

Nov. 01, 2019

Jun. 25, 2019

Sep. 18, 2018

Sep. 11, 2018USD ($)

Sep. 06, 2018USD ($)

Sep. 01, 2018

Sep. 18, 2017USD ($)

Mar. 31, 2020EUR (€)

Mar. 31, 2020USD ($)

Mar. 31, 2019USD ($)

Mar. 31, 2020USD ($)

Dec. 31, 2019USD ($)

Line of Credit Facility [Line Items]

Short-term Debt

$ 109

$ 17.3

Long-term Fixed-rate Debt, Carrying Value

1,085.1

1,086.5

Financing Arrangements (Textual) [Abstract]

Borrowings guarantees

39

Proceeds from Issuance of Long-term Debt

$ 200

$ 207

Line of Credit Facility, Fair Value of Amount Outstanding

1,849.9

1,712.8

Accounts Receivable, after Allowance for Credit Loss, Current

$ 577.7

$ 545.1

Euro Term Loan - Variable Rate [Member]

Financing Arrangements (Textual) [Abstract]

Long-term Debt, Percentage Bearing Variable Interest, Percentage Rate

1.13%

1.13%

1.13%

Euro Senior Unsecured Notes - 2.02% [Member]

Financing Arrangements (Textual) [Abstract]

Debt Instrument, Interest rate

2.02%

2.02%

Senior Unsecured Notes - 3.875% [Member]

Financing Arrangements (Textual) [Abstract]

Debt Instrument, Interest rate

3.875%

3.875%

Debt Instrument, Maturity Date

Sep. 1, 2024

Sep. 1, 2024

Series A Medium Term Note [Member]

Financing Arrangements (Textual) [Abstract]

Debt Instrument, Maturity Date

May 1, 2028

May 1, 2028

Outstanding Borrowings [Member]

Financing Arrangements (Textual) [Abstract]

Line of Credit Facility, Current Borrowing Capacity

$ 100

Senior Unsecured Notes - 4.5% [Member]

Financing Arrangements (Textual) [Abstract]

Debt Instrument, Issuance Date

Sep. 6, 2018

Proceeds from Issuance of Long-term Debt

$ 400

Line of Credit Facility, Fair Value of Amount Outstanding

$ 396.2

$ 396.1

Debt Instrument, Interest rate

4.50%

4.50%

Debt Instrument, Maturity Date

Dec. 15, 2028

Dec. 15, 2028

Dec. 15, 2028

Euro Term Loan - Variable Rate [Member]

Financing Arrangements (Textual) [Abstract]

Debt Instrument, Issuance Date

Sep. 18, 2017

Proceeds from Issuance of Long-term Debt

$ 100

Line of Credit Facility, Fair Value of Amount Outstanding

€ 48.5

$ 53.5

54.4

Debt Instrument, Maturity Date

Sep. 18, 2020

Sep. 18, 2020

Sep. 18, 2020

Repayments of Senior Debt | €

€ 51.5

Euro Senior Unsecured Notes - 2.02% [Member]

Financing Arrangements (Textual) [Abstract]

Line of Credit Facility, Fair Value of Amount Outstanding

165

167.7

Debt Instrument, Maturity Date

Sep. 7, 2027

Sep. 7, 2027

Senior Unsecured Notes - Variable Rate [Member]

Financing Arrangements (Textual) [Abstract]

Maximum borrowing capacity under line of credit

650

Remaining Borrowing Capacity under Line of Credit Facility of Company's foreign subsidiaries

353.6

Debt Instrument, Issuance Date

Jun. 25, 2019

Line of credit expiration date

Jun. 25, 2024

Jun. 25, 2024

Line of Credit Facility, Fair Value of Amount Outstanding

$ 296.4

$ 132.7

Long-term Debt, Weighted Average Interest Rate, at Point in Time

2.72%

2.72%

2.85%

Senior Unsecured Notes - Variable Rate [Member] | Euro Member Countries, Euro

Financing Arrangements (Textual) [Abstract]

Long-term Debt, Weighted Average Interest Rate, at Point in Time

1.00%

1.00%

1.10%

Foreign Subsidiary [Member]

Line of Credit Facility [Line Items]

Short-term Debt

$ 87.1

$ 15.5

Financing Arrangements (Textual) [Abstract]

Maximum borrowing capacity under line of credit

263.5

Borrowings guarantees

1.1

Remaining Borrowing Capacity under Line of Credit Facility of Company's foreign subsidiaries

$ 175.3

Line of Credit stated variable interest rate, High Range

1.75%

1.75%

1.75%

Line of Credit Accounts Receivable Securitization [Member]

Line of Credit Facility [Line Items]

Short-term Debt

$ 21.9

$ 1.8

Financing Arrangements (Textual) [Abstract]

Maximum borrowing capacity under line of credit

100

Remaining Borrowing Capacity under Line of Credit Facility of Company's foreign subsidiaries

0

Line of Credit Facility, Fair Value of Amount Outstanding

$ 78.1

$ 98.2

Long-term Debt, Percentage Bearing Variable Interest, Percentage Rate

2.52%

2.52%

2.77%

Term Loan - Variable Rate [Member]

Financing Arrangements (Textual) [Abstract]

Debt Instrument, Issuance Date

Sep. 11, 2018

Proceeds from Issuance of Long-term Debt

$ 350

Line of Credit Facility, Fair Value of Amount Outstanding

$ 336.3

$ 338.5

Debt Instrument, Maturity Date

Sep. 11, 2023

Sep. 11, 2023

Sep. 11, 2023

Long-term Debt, Percentage Bearing Variable Interest, Percentage Rate

2.11%

2.11%

2.92%

Debt Instrument, Repurchase Date

Jul. 12, 2019

Jul. 12, 2019

Fixed Rate Bank Loan (BEKA) [Member]

Financing Arrangements (Textual) [Abstract]

Debt Instrument, Issuance Date

Nov. 1, 2019

Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Noncurrent Liabilities, Long-term Debt

$ 16

Line of Credit Facility, Fair Value of Amount Outstanding

$ 17.7

$ 18

Debt Instrument, Interest rate

2.15%

2.15%

Debt Instrument, Maturity Date

Jun. 30, 2033

Jun. 30, 2033

Minimum [Member] | Series A Medium Term Note [Member]

Financing Arrangements (Textual) [Abstract]

Debt Instrument, Interest rate

6.74%

6.74%

Maximum [Member] | Series A Medium Term Note [Member]

Financing Arrangements (Textual) [Abstract]

Debt Instrument, Interest rate

7.76%

7.76%

Line of Credit Accounts Receivable Securitization [Member]

Financing Arrangements (Textual) [Abstract]

Line of credit expiration date

Nov. 30, 2021

Nov. 30, 2021

Cone Drive [Member]

Financing Arrangements (Textual) [Abstract]

Business Acquisition, Effective Date of Acquisition

Sep. 18, 2018

Cone Drive [Member]

Financing Arrangements (Textual) [Abstract]

Business Acquisition, Effective Date of Acquisition

Sep. 1, 2018

Subsequent Event [Member] | Credit Facility [Domain]

Financing Arrangements (Textual) [Abstract]

Subsequent Event, Date

Apr. 3, 2020

Line of Credit Facility, Fair Value of Amount Outstanding

$ 350

Goodwill and Other Intangible_5

Goodwill and Other Intangible Assets (Details Textual) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Goodwill and Other Intangible Assets (Textual) [Abstract]
Amortization expense for intangible assets	$ 14.2	$ 14.5
Future Amortization Expense Year 2015	54.3
Future Amortization Expense Year 2016	51
Future Amortization Expense Year 2017	46.1
Future Amortization Expense Year 2018	43.2
Future Amortization Expense Year 2019	41.6
Goodwill, Acquired During Period	6.7
Goodwill, Other Increase (Decrease)	12.5
2019 Acquisitions [Member]
Goodwill [Line Items]
Goodwill, Purchase Accounting Adjustments	(6.7)
Mobile Industries [Member]
Goodwill and Other Intangible Assets (Textual) [Abstract]
Goodwill, Acquired During Period	4.5
Goodwill, Other Increase (Decrease)	(6.3)
Process Industries [Member]
Goodwill and Other Intangible Assets (Textual) [Abstract]
Goodwill, Acquired During Period	2.2
Goodwill, Other Increase (Decrease)	$ (6.2)

Contingencies (Details)

Contingencies (Details) - USD ($) $ in Millions	Mar. 31, 2020	Dec. 31, 2019
Commitments and Contingencies Disclosure [Abstract]
Accrual for Environmental Loss Contingencies	$ 5.2
Standard Product Warranty Accrual	$ 7.6	$ 7.5

Equity (Details)

Equity (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Dec. 31, 2019	Dec. 31, 2018
Common Stock, Value, Outstanding	$ 53.1	$ 53.1	$ 53.1	$ 53.1
Additional Paid in Capital, Common Stock	920.1	938.2	937.6	951.9
Retained Earnings (Accumulated Deficit)	1,964.8	1,700.8	1,907.4	1,630.2
Accumulated Other Comprehensive Income (Loss), Net of Tax	(118.9)	(101.1)	(50.1)	(95.3)
Treasury Stock, Value	(1,001.7)	(952.5)	(979.8)	(960.3)
Stockholders' Equity Attributable to Noncontrolling Interest	82.9	67.4	$ 86.6	$ 63.1
Other comprehensive income	(76.3)	(4.9)
Stockholders' Equity Roll Forward
Beginning Balance	1,954.8	1,642.7
Net income	84	95.3
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Adjustment, Net of Tax	(78.8)	(4.2)
Pension and postretirement liability adjustment (net of the income tax benefit of $1.5 million)	(1.3)	(0.1)
Other Comprehensive Income (Loss), Securities, Available-for-Sale, Unrealized Holding Gain (Loss) Arising During Period, after Tax	(0.4)	0
Other Comprehensive Income (Loss), Unrealized Gain (Loss) on Derivatives Arising During Period, Net of Tax	4.2	(0.6)
Business Combination, Acquisition of Less than 100 Percent, Noncontrolling Interest, Fair Value	0.5
Dividends - $0.26 per share	(22.9)	(21.3)
Stock-based compensation expense	5.6	7.8
Payments for Repurchase of Common Stock	(42.3)	(8.3)
Stock option exercise activity	(7.5)	(1)
Restricted shares surrendered (issued)	0	0
Payment, Tax Withholding, Share-based Payment Arrangement	(10.2)	(6.4)
Ending Balance	1,900.3	1,705.9
Other Paid-In Capital [Member]
Stockholders' Equity Roll Forward
Stock-based compensation expense	5.6	7.8
Stock option exercise activity	(0.9)	(0.6)
Restricted shares surrendered (issued)	(22.2)	(20.9)
Earnings Invested in the Business [Member]
Stockholders' Equity Roll Forward
Net income	80.7	91.9
Dividends - $0.26 per share	(22.9)	(21.3)
Accumulated Other Comprehensive (Loss) [Member]
Stockholders' Equity Roll Forward
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Adjustment, Net of Tax	(71.3)	(5.1)
Pension and postretirement liability adjustment (net of the income tax benefit of $1.5 million)	(1.3)	(0.1)
Other Comprehensive Income (Loss), Securities, Available-for-Sale, Unrealized Holding Gain (Loss) Arising During Period, after Tax	(0.4)
Other Comprehensive Income (Loss), Unrealized Gain (Loss) on Derivatives Arising During Period, Net of Tax	4.2	(0.6)
Treasury Stock [Member]
Stockholders' Equity Roll Forward
Payments for Repurchase of Common Stock	(42.3)	(8.3)
Stock option exercise activity	(8.4)	(1.6)
Restricted shares surrendered (issued)	22.2	20.9
Payment, Tax Withholding, Share-based Payment Arrangement	(10.2)	(6.4)
Noncontrolling Interest [Member]
Stockholders' Equity Roll Forward
Net income	3.3	3.4
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Adjustment, Net of Tax	(7.5)	$ 0.9
Business Combination, Acquisition of Less than 100 Percent, Noncontrolling Interest, Fair Value	0.5
Accounting Standards Update 2016-13 [Member]
Other comprehensive income	(0.4)
Accounting Standards Update 2016-13 [Member] | Retained Earnings [Member]
Other comprehensive income	$ (0.4)

Equity (Details Textual)

Equity (Details Textual) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Class of Stock [Line Items]
Net Income (Loss) Attributable to Parent	$ (1)	$ 0.2
Equity (Textual) [Abstract]
Dividend per share	$ 0.28	$ 0.28
Accounting Standards Update 2016-13 [Member]
Class of Stock [Line Items]
Income Tax Effects Allocated Directly to Equity, Cumulative Effect of Change in Accounting Principle	$ 0.2

Impairment and Restructuring (D

Impairment and Restructuring (Details) - USD ($)	Apr. 01, 2019	Mar. 31, 2020	Mar. 31, 2019	Dec. 31, 2019
Restructuring Cost and Reserve [Line Items]
Restructuring Costs and Asset Impairment Charges		$ 100,000
Payments for Restructuring		(1,700,000)
Severance Costs		2,700,000
Business Exit Costs		800,000
Restructuring, Settlement and Impairment Provisions		3,600,000	$ 0
Restructuring Reserve		4,500,000		$ 2,700,000
Restructuring Reserve, Period Increase (Decrease)		3,500,000
Diamond Chain [Member]
Restructuring Cost and Reserve [Line Items]
Business Acquisition, Effective Date of Acquisition	Apr. 1, 2019
Mobile Industries [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring Costs and Asset Impairment Charges		0
Severance Costs		100,000
Business Exit Costs		600,000
Restructuring, Settlement and Impairment Provisions		700,000
Corporate Segment [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring Costs and Asset Impairment Charges		0
Severance Costs		100,000
Business Exit Costs		0
Restructuring, Settlement and Impairment Provisions		100,000
Process Industries [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring Costs and Asset Impairment Charges		100,000
Severance Costs		2,500,000
Business Exit Costs		200,000
Restructuring, Settlement and Impairment Provisions		2,800,000
Gaffney [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring Charges		4,500,000
Business Exit Costs		600,000
Gaffney [Member] | Minimum [Member] | Restructuring Charges [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring, Settlement and Impairment Provisions		8,000,000
Gaffney [Member] | Maximum [Member] | Restructuring Charges [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring, Settlement and Impairment Provisions		10,000,000
Diamond Chain [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring Charges		2,200,000
Severance Costs		1,900,000
Diamond Chain [Member] | Minimum [Member] | Restructuring Charges [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring, Settlement and Impairment Provisions		10,000,000
Diamond Chain [Member] | Maximum [Member] | Restructuring Charges [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring, Settlement and Impairment Provisions		$ 12,000,000

Retirement Benefit Plans (Detai

Retirement Benefit Plans (Details) - Pension Plan [Member] - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Components of net periodic benefit cost:
Service cost	$ 3.1	$ 3
Interest cost	6.7	7.9
Expected return on plan assets	8.5	9
Amortization of prior service cost	0.4	0.4
Net periodic benefit cost	1.7	2.3
UNITED STATES
Components of net periodic benefit cost:
Service cost	2.7	2.6
Interest cost	5.2	6
Expected return on plan assets	6.3	6.4
Amortization of prior service cost	0.4	0.4
Net periodic benefit cost	2	2.6
Foreign Plan [Member]
Components of net periodic benefit cost:
Service cost	0.4	0.4
Interest cost	1.5	1.9
Expected return on plan assets	2.2	2.6
Amortization of prior service cost	0	0
Net periodic benefit cost	$ (0.3)	$ (0.3)

Postretirement Benefit Plans (D

Postretirement Benefit Plans (Details) - Postretirement Benefit Plans [Member] - USD ($) $ in Millions	3 Months Ended				12 Months Ended
	Mar. 31, 2020	Sep. 30, 2019	Mar. 31, 2019	Sep. 30, 2018	Dec. 31, 2019
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Net Periodic Benefit Cost (Credit), Increase (Decrease) for Plan Amendment	$ 50
Deferred Tax Liabilities, Net, Noncurrent	14
Defined Benefit Plan, Service Cost	0	$ 0	$ 0	$ 0
Defined Benefit Plan, Interest Cost	0.5	0.5	1.9	1.9
Defined Benefit Plan, Expected Return (Loss) on Plan Assets	0.1	0.1	0.8	0.8
Defined Benefit Plan, Amortization of Prior Service Cost (Credit)	(2.4)	(2.4)	(0.5)	(0.5)
Defined Benefit Plan, Actuarial Gain (Loss), Immediate Recognition as Component in Net Periodic Benefit (Cost) Credit	0	0	0	0
Defined Benefit Plan, Net Periodic Benefit Cost (Credit)	$ (2)	$ (2)	$ 0.6	$ 0.6
Defined Benefit Plan, Benefit Obligation, Increase (Decrease) for Plan Amendment					$ 92.8

Accumulated Other Comprehensi_3

Accumulated Other Comprehensive Income (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Accumulated Other Comprehensive Income (Loss) [Line Items]
Other Comprehensive Income (Loss), before Reclassifications, before Tax	$ (72.7)	$ (3.9)
Reclassification from Accumulated Other Comprehensive Income, Current Period, before Tax	(2.6)	(1.2)
Net Income (Loss) Attributable to Parent	(1)	0.2
Accumulated Other Comprehensive Income [Roll Forward]
Beginning Balance	(50.1)	(95.3)
Net current period other comprehensive (loss) income, net of income taxes	(76.3)	(4.9)
Other Comprehensive Income (Loss), Securities, Available-for-Sale, Unrealized Holding Gain (Loss) Arising During Period, after Tax	(0.4)	0
Other Comprehensive (Income) Loss, Net of Tax, Portion Attributable to Noncontrolling Interest	7.5	(0.9)
Accumulated Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent	(68.8)	(5.8)
Ending Balance	(118.9)	(101.1)
Foreign currency translation adjustment [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Other Comprehensive Income (Loss), before Reclassifications, before Tax	(78.8)	(4.2)
Reclassification from Accumulated Other Comprehensive Income, Current Period, before Tax	0	0
Net Income (Loss) Attributable to Parent	0	0
Accumulated Other Comprehensive Income [Roll Forward]
Beginning Balance	(115.3)	(95.6)
Net current period other comprehensive (loss) income, net of income taxes	(78.8)	(4.2)
Other Comprehensive (Income) Loss, Net of Tax, Portion Attributable to Noncontrolling Interest	7.5	(0.9)
Accumulated Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent	(71.3)	(5.1)
Ending Balance	(186.6)	(100.7)
Pension and postretirement liability adjustment [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Other Comprehensive Income (Loss), before Reclassifications, before Tax	0.2	(0.1)
Reclassification from Accumulated Other Comprehensive Income, Current Period, before Tax	(2)	0
Net Income (Loss) Attributable to Parent	0.5	0
Accumulated Other Comprehensive Income [Roll Forward]
Beginning Balance	66.9	0
Net current period other comprehensive (loss) income, net of income taxes	(1.3)	(0.1)
Other Comprehensive (Income) Loss, Net of Tax, Portion Attributable to Noncontrolling Interest	0	0
Accumulated Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent	(1.3)	(0.1)
Ending Balance	65.6	(0.1)
Unrealized gain (loss) on marketable securities [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Other Comprehensive Income (Loss), before Reclassifications, before Tax	(0.5)
Reclassification from Accumulated Other Comprehensive Income, Current Period, before Tax	0
Net Income (Loss) Attributable to Parent	0.1
Accumulated Other Comprehensive Income [Roll Forward]
Beginning Balance	0
Accumulated Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent	(0.4)
Ending Balance	(0.4)
Derivative financial instruments fair value adjustment [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Other Comprehensive Income (Loss), before Reclassifications, before Tax	6.4	0.4
Reclassification from Accumulated Other Comprehensive Income, Current Period, before Tax	(0.6)	(1.2)
Net Income (Loss) Attributable to Parent	(1.6)	0.2
Accumulated Other Comprehensive Income [Roll Forward]
Beginning Balance	(1.7)	0.3
Net current period other comprehensive (loss) income, net of income taxes	4.2	(0.6)
Other Comprehensive (Income) Loss, Net of Tax, Portion Attributable to Noncontrolling Interest	0	0
Accumulated Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent	4.2	(0.6)
Ending Balance	$ 2.5	$ (0.3)

Fair Value (Details)

Fair Value (Details) - USD ($) $ in Millions	Mar. 31, 2020	Dec. 31, 2019
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt Securities, Available-for-sale	$ 36.5
Assets and Liabilities Measured at fair value on a recurring basis
Cash and cash equivalents	2.5	$ 48.8
Restricted cash	6.5	6.7
Short-term investments		0.1
Fair Value, Recurring [Member]
Assets and Liabilities Measured at fair value on a recurring basis
Cash and cash equivalents	385	160.7
Restricted cash	6.5	6.7
Short-term investments	61.1	25.7
Foreign currency hedges	9.1	7.6
Total Assets	464.2	249.6
Foreign currency hedges	0.3	1.4
Total Liabilities	0.3	1.4
Fair Value, Recurring [Member] | Level 1 [Member]
Assets and Liabilities Measured at fair value on a recurring basis
Cash and cash equivalents	382.6	158.2
Restricted cash	6.5	6.7
Short-term investments	36	0
Foreign currency hedges	0	0
Total Assets	425.1	164.9
Foreign currency hedges	0	0
Total Liabilities	0	0
Fair Value, Recurring [Member] | Level 2 [Member]
Assets and Liabilities Measured at fair value on a recurring basis
Cash and cash equivalents	2.4	2.5
Restricted cash	0	0
Short-term investments	25.1	25.7
Foreign currency hedges	9.1	7.6
Total Assets	36.6	35.8
Foreign currency hedges	0.3	1.4
Total Liabilities	0.3	1.4
Fair Value, Recurring [Member] | Level 3 [Member]
Assets and Liabilities Measured at fair value on a recurring basis
Cash and cash equivalents	0	0
Restricted cash	0	0
Short-term investments	0	0
Foreign currency hedges	0	0
Total Assets	0	0
Foreign currency hedges	0	0
Total Liabilities	$ 0	$ 0

Fair Value (Details Textual)

Fair Value (Details Textual) - USD ($) $ in Millions	Mar. 31, 2020	Dec. 31, 2019
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt Securities, Held-to-maturity	$ 25.1
Debt Securities, Available-for-sale	$ 36.5
Debt Securities, Available-for-sale, Measurement Input	36
Long-term Debt, Fair Value	$ 1,197.6	$ 1,185.8
Long-term Fixed-rate Debt, Carrying Value	$ 1,085.1	$ 1,086.5

Derivatives and Hedging Activ_3

Derivatives and Hedging Activities (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Dec. 31, 2019
Derivative [Line Items]
Gain (Loss) on Foreign Currency Derivative Instruments Not Designated as Hedging Instruments	$ 5.5	$ 3
Derivative, Notional Amount	$ 249.8		$ 295.7

Derivatives and Hedging Activ_4

Derivatives and Hedging Activities Derivatives (Details) - USD ($) $ in Millions	Mar. 31, 2020	Dec. 31, 2019
Derivative [Line Items]
Derivative, Notional Amount	$ 249.8	$ 295.7
Designated as Hedging Instrument [Member]
Derivative [Line Items]
Derivative, Notional Amount	80	87.9
Not Designated as Hedging Instrument [Member]
Derivative [Line Items]
Derivative, Notional Amount	$ 169.8	$ 207.8

Uncategorized Items - tkr10-q33

Label	Element	Value
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents	us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents	$ 133,100,000
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents	us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents	$ 216,200,000