10-Q Filing

TITANIUM METALS CORP CIK: 1011657 Q2 2010

Filing Information

Form Type	10-Q
Accession Number	`0001193125-10-175394`
Period End Date	20100630
Filing Date	20100803
Fiscal Year	2010
Fiscal Period	Q2
XBRL Instance	tie-20100630.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 70 Income Statement 68 Cash Flow Statement 55 Stockholders Equity 13

Balance Sheet 70 line items

Line Item	Tag	Value	Unit	Period
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$186.10M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$169.40M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$45.00M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$106.60M	USD	Point-in-time
Accounts and other receivables	`ReceivablesNetCurrent`	$85.00M	USD	Point-in-time
Accounts and other receivables	`ReceivablesNetCurrent`	$120.70M	USD	Point-in-time
Notes receivable from affiliates	`DueFromRelatedPartiesCurrent`	$33.80M	USD	Point-in-time
Notes receivable from affiliates	`DueFromRelatedPartiesCurrent`	$80.90M	USD	Point-in-time
Inventories	`InventoryNet`	$422.90M	USD	Point-in-time
Inventories	`InventoryNet`	$475.60M	USD	Point-in-time
Refundable income taxes	`IncomeTaxesReceivable`	$8.20M	USD	Point-in-time
Refundable income taxes	`IncomeTaxesReceivable`	$2.10M	USD	Point-in-time
Deferred income taxes	`DeferredTaxAssetsNetCurrent`	$25.30M	USD	Point-in-time
Deferred income taxes	`DeferredTaxAssetsNetCurrent`	$25.20M	USD	Point-in-time
Other	`OtherAssetsCurrent`	$6.70M	USD	Point-in-time
Other	`OtherAssetsCurrent`	$10.00M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$807.30M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$844.60M	USD	Point-in-time
Marketable securities	`MarketableSecuritiesNoncurrent`	$17.60M	USD	Point-in-time
Marketable securities	`MarketableSecuritiesNoncurrent`	$20.60M	USD	Point-in-time
Notes receivable from affiliates	`DueFromRelatedPartiesNoncurrent`	$59.20M	USD	Point-in-time
Notes receivable from affiliates	`DueFromRelatedPartiesNoncurrent`	$59.50M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$416.10M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$389.30M	USD	Point-in-time
Deferred income taxes	`DeferredTaxAssetsNetNoncurrent`	$16.80M	USD	Point-in-time
Deferred income taxes	`DeferredTaxAssetsNetNoncurrent`	$29.40M	USD	Point-in-time
Other	`OtherAssetsNoncurrent`	$58.60M	USD	Point-in-time
Other	`OtherAssetsNoncurrent`	$57.90M	USD	Point-in-time
Total assets	`Assets`	$1.40B	USD	Point-in-time
Total assets	`Assets`	$1.38B	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$30.10M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$36.40M	USD	Point-in-time
Accrued and other current liabilities	`AccruedLiabilitiesCurrent`	$48.30M	USD	Point-in-time
Accrued and other current liabilities	`AccruedLiabilitiesCurrent`	$52.40M	USD	Point-in-time
Customer advances	`CustomerAdvancesCurrent`	$11.70M	USD	Point-in-time
Customer advances	`CustomerAdvancesCurrent`	$20.80M	USD	Point-in-time
Income taxes payable	`AccruedIncomeTaxesCurrent`	$900.00K	USD	Point-in-time
Income taxes payable	`AccruedIncomeTaxesCurrent`	$3.40M	USD	Point-in-time
Deferred income taxes	`DeferredTaxLiabilitiesCurrent`	$200.00K	USD	Point-in-time
Deferred income taxes	`DeferredTaxLiabilitiesCurrent`	$400.00K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$100.00M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$104.60M	USD	Point-in-time
Accrued OPEB cost	`OtherPostretirementDefinedBenefitPlanLiabilitiesNoncurrent`	$20.20M	USD	Point-in-time
Accrued OPEB cost	`OtherPostretirementDefinedBenefitPlanLiabilitiesNoncurrent`	$19.90M	USD	Point-in-time
Accrued pension cost	`DefinedBenefitPensionPlanLiabilitiesNoncurrent`	$112.70M	USD	Point-in-time
Accrued pension cost	`DefinedBenefitPensionPlanLiabilitiesNoncurrent`	$120.80M	USD	Point-in-time
Deferred income taxes	`DeferredTaxLiabilitiesNoncurrent`	$20.00M	USD	Point-in-time
Deferred income taxes	`DeferredTaxLiabilitiesNoncurrent`	$1.60M	USD	Point-in-time
Other	`OtherLiabilitiesNoncurrent`	$7.60M	USD	Point-in-time
Other	`OtherLiabilitiesNoncurrent`	$9.40M	USD	Point-in-time
Total liabilities	`Liabilities`	$254.50M	USD	Point-in-time
Total liabilities	`Liabilities`	$262.30M	USD	Point-in-time
Series A Preferred Stock	`PreferredStockValue`	$700.00K	USD	Point-in-time
Series A Preferred Stock	`PreferredStockValue`	$3.20M	USD	Point-in-time
Common stock	`CommonStockValue`	$1.80M	USD	Point-in-time
Common stock	`CommonStockValue`	$1.80M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$507.80M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$509.00M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$731.00M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$766.80M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-155.00M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-138.00M	USD	Point-in-time
Total TIMET stockholders' equity	`StockholdersEquity`	$1.11B	USD	Point-in-time
Total TIMET stockholders' equity	`StockholdersEquity`	$1.12B	USD	Point-in-time
Noncontrolling interest in subsidiary	`MinorityInterest`	$17.10M	USD	Point-in-time
Noncontrolling interest in subsidiary	`MinorityInterest`	$13.90M	USD	Point-in-time
Total equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$1.12B	USD	Point-in-time
Total equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$1.14B	USD	Point-in-time
Total liabilities and equity	`LiabilitiesAndStockholdersEquity`	$1.40B	USD	Point-in-time
Total liabilities and equity	`LiabilitiesAndStockholdersEquity`	$1.38B	USD	Point-in-time

Income Statement 68 line items

Line Item	Tag	Value	Unit	Period
Net sales	`SalesRevenueNet`	$429.60M	USD	2 Qtrs
Net sales	`SalesRevenueNet`	$409.10M	USD	2 Qtrs
Net sales	`SalesRevenueNet`	$205.70M	USD	1 Quarter
Net sales	`SalesRevenueNet`	$212.00M	USD	1 Quarter
Cost of sales	`CostOfGoodsSold`	$351.00M	USD	2 Qtrs
Cost of sales	`CostOfGoodsSold`	$171.20M	USD	1 Quarter
Cost of sales	`CostOfGoodsSold`	$174.10M	USD	1 Quarter
Cost of sales	`CostOfGoodsSold`	$338.10M	USD	2 Qtrs
Gross margin	`GrossProfit`	$78.60M	USD	2 Qtrs
Gross margin	`GrossProfit`	$40.80M	USD	1 Quarter
Gross margin	`GrossProfit`	$31.60M	USD	1 Quarter
Gross margin	`GrossProfit`	$71.00M	USD	2 Qtrs
Selling, general, administrative and development expense	`SellingGeneralAndAdministrativeExpense`	$27.90M	USD	2 Qtrs
Selling, general, administrative and development expense	`SellingGeneralAndAdministrativeExpense`	$30.60M	USD	2 Qtrs
Selling, general, administrative and development expense	`SellingGeneralAndAdministrativeExpense`	$14.40M	USD	1 Quarter
Selling, general, administrative and development expense	`SellingGeneralAndAdministrativeExpense`	$15.80M	USD	1 Quarter
Other (expense) income, net	`OtherOperatingIncomeExpenseNet`	$1.70M	USD	2 Qtrs
Other (expense) income, net	`OtherOperatingIncomeExpenseNet`	$-200.00K	USD	1 Quarter
Other (expense) income, net	`OtherOperatingIncomeExpenseNet`	$300.00K	USD	1 Quarter
Other (expense) income, net	`OtherOperatingIncomeExpenseNet`	$200.00K	USD	2 Qtrs
Operating income	`OperatingIncomeLoss`	$42.10M	USD	2 Qtrs
Operating income	`OperatingIncomeLoss`	$50.90M	USD	2 Qtrs
Operating income	`OperatingIncomeLoss`	$15.60M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$26.70M	USD	1 Quarter
Other non-operating (expense) income, net	`OtherNonoperatingIncomeExpense`	$500.00K	USD	2 Qtrs
Other non-operating (expense) income, net	`OtherNonoperatingIncomeExpense`	$2.90M	USD	1 Quarter
Other non-operating (expense) income, net	`OtherNonoperatingIncomeExpense`	$-800.00K	USD	1 Quarter
Other non-operating (expense) income, net	`OtherNonoperatingIncomeExpense`	$5.90M	USD	2 Qtrs
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$42.60M	USD	2 Qtrs
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$29.60M	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$14.80M	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$56.80M	USD	2 Qtrs
Provision for income taxes	`IncomeTaxExpenseBenefit`	$9.70M	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$5.70M	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$12.80M	USD	2 Qtrs
Provision for income taxes	`IncomeTaxExpenseBenefit`	$19.60M	USD	2 Qtrs
Net income	`ProfitLoss`	$9.10M	USD	1 Quarter
Net income	`ProfitLoss`	$19.90M	USD	1 Quarter
Net income	`ProfitLoss`	$29.80M	USD	2 Qtrs
Net income	`ProfitLoss`	$37.20M	USD	2 Qtrs
Noncontrolling interest in net income of subsidiary	`NetIncomeLossAttributableToNoncontrollingInterest`	$400.00K	USD	1 Quarter
Noncontrolling interest in net income of subsidiary	`NetIncomeLossAttributableToNoncontrollingInterest`	$1.30M	USD	2 Qtrs
Noncontrolling interest in net income of subsidiary	`NetIncomeLossAttributableToNoncontrollingInterest`	$800.00K	USD	1 Quarter
Noncontrolling interest in net income of subsidiary	`NetIncomeLossAttributableToNoncontrollingInterest`	$1.40M	USD	2 Qtrs
Net income attributable to TIMET stockholders	`NetIncomeLoss`	$8.70M	USD	1 Quarter
Net income attributable to TIMET stockholders	`NetIncomeLoss`	$28.40M	USD	2 Qtrs
Net income attributable to TIMET stockholders	`NetIncomeLoss`	$19.10M	USD	1 Quarter
Net income attributable to TIMET stockholders	`NetIncomeLoss`	$35.90M	USD	2 Qtrs
Dividends on Series A Preferred Stock	`PreferredStockDividendsAndOtherAdjustments`	$100.00K	USD	1 Quarter
Dividends on Series A Preferred Stock	`PreferredStockDividendsAndOtherAdjustments`	$100.00K	USD	2 Qtrs
Dividends on Series A Preferred Stock	`PreferredStockDividendsAndOtherAdjustments`	$100.00K	USD	2 Qtrs
Dividends on Series A Preferred Stock	`PreferredStockDividendsAndOtherAdjustments`	$100.00K	USD	1 Quarter
Net income attributable to TIMET common stockholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$8.60M	USD	1 Quarter
Net income attributable to TIMET common stockholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$35.80M	USD	2 Qtrs
Net income attributable to TIMET common stockholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$28.30M	USD	2 Qtrs
Net income attributable to TIMET common stockholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$19.00M	USD	1 Quarter
Earnings per share attributable to TIMET common stockholders	`EarningsPerShareBasicAndDiluted`	$0.16	USD	2 Qtrs
Earnings per share attributable to TIMET common stockholders	`EarningsPerShareBasicAndDiluted`	$0.05	USD	1 Quarter
Earnings per share attributable to TIMET common stockholders	`EarningsPerShareBasicAndDiluted`	$0.20	USD	2 Qtrs
Earnings per share attributable to TIMET common stockholders	`EarningsPerShareBasicAndDiluted`	$0.11	USD	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	179.60M	shares	2 Qtrs
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	181.00M	shares	2 Qtrs
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	181.00M	shares	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	179.60M	shares	1 Quarter
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	180.50M	shares	2 Qtrs
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	181.00M	shares	1 Quarter
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	180.50M	shares	1 Quarter
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	182.00M	shares	2 Qtrs

Cash Flow Statement 55 line items

Line Item	Tag	Value	Unit	Period
Net income	`ProfitLoss`	$9.10M	USD	1 Quarter
Net income	`ProfitLoss`	$19.90M	USD	1 Quarter
Net income	`ProfitLoss`	$29.80M	USD	2 Qtrs
Net income	`ProfitLoss`	$37.20M	USD	2 Qtrs
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$26.20M	USD	2 Qtrs
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$25.10M	USD	2 Qtrs
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$-1.30M	USD	2 Qtrs
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$2.80M	USD	2 Qtrs
Other, net	`AdjustmentsNoncashItemsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesOther`	$700.00K	USD	2 Qtrs
Other, net	`AdjustmentsNoncashItemsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesOther`	$1.70M	USD	2 Qtrs
Receivables	`IncreaseDecreaseInAccountsReceivable`	$21.00M	USD	2 Qtrs
Receivables	`IncreaseDecreaseInAccountsReceivable`	$-39.70M	USD	2 Qtrs
Inventories	`IncreaseDecreaseInInventories`	$40.00M	USD	2 Qtrs
Inventories	`IncreaseDecreaseInInventories`	$38.00M	USD	2 Qtrs
Accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-40.10M	USD	2 Qtrs
Accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$4.60M	USD	2 Qtrs
Income taxes	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$8.30M	USD	2 Qtrs
Income taxes	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$1.80M	USD	2 Qtrs
Other, net	`IncreaseDecreaseInOtherOperatingCapitalNet`	$1.40M	USD	2 Qtrs
Other, net	`IncreaseDecreaseInOtherOperatingCapitalNet`	$-1.00M	USD	2 Qtrs
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$80.10M	USD	2 Qtrs
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$76.40M	USD	2 Qtrs
Capital expenditures	`PaymentsToAcquirePropertyPlantAndEquipment`	$5.60M	USD	2 Qtrs
Capital expenditures	`PaymentsToAcquirePropertyPlantAndEquipment`	$16.30M	USD	2 Qtrs
Loans	`OriginationOfNotesReceivableFromRelatedParties`	$133.40M	USD	2 Qtrs
Collections of principal payments	`RepaymentOfNotesReceivableFromRelatedParties`	$86.30M	USD	2 Qtrs
Other, net	`PaymentsForProceedsFromOtherInvestingActivities`	$-3.40M	USD	2 Qtrs
Other, net	`PaymentsForProceedsFromOtherInvestingActivities`	$300.00K	USD	2 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-12.90M	USD	2 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-53.00M	USD	2 Qtrs
Dividends paid to noncontrolling interest in subsidiary	`PaymentsOfDividendsMinorityInterest`	$2.20M	USD	2 Qtrs
Treasury stock purchases	`PaymentsForRepurchaseOfCommonStock`	$3.90M	USD	2 Qtrs
Treasury stock purchases	`PaymentsForRepurchaseOfCommonStock`	$4.40M	USD	2 Qtrs
Other, net	`ProceedsFromPaymentsForOtherFinancingActivities`	$-100.00K	USD	2 Qtrs
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-4.40M	USD	2 Qtrs
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-6.20M	USD	2 Qtrs
Net cash provided by operating, investing and financing activities	`NetCashUsedInProvidedByOperatingInvestingAndFinancingActivities`	$20.90M	USD	2 Qtrs
Net cash provided by operating, investing and financing activities	`NetCashUsedInProvidedByOperatingInvestingAndFinancingActivities`	$59.10M	USD	2 Qtrs
Effect of exchange rate changes on cash	`EffectOfExchangeRateOnCashAndCashEquivalents`	$2.50M	USD	2 Qtrs
Effect of exchange rate changes on cash	`EffectOfExchangeRateOnCashAndCashEquivalents`	$-4.20M	USD	2 Qtrs
Net cash provided during period	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$16.70M	USD	2 Qtrs
Net cash provided during period	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$61.60M	USD	2 Qtrs
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$186.10M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$169.40M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$45.00M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$106.60M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$186.10M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$169.40M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$45.00M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$106.60M	USD	Point-in-time
Interest	`InterestPaidNet`	$300.00K	USD	2 Qtrs
Interest	`InterestPaidNet`	$300.00K	USD	2 Qtrs
Income taxes	`IncomeTaxesPaidNet`	$12.30M	USD	2 Qtrs
Income taxes	`IncomeTaxesPaidNet`	$8.30M	USD	2 Qtrs
Dividends declared to noncontrolling interest in subsidiary	`NoncashFinancingActivityDividendDeclaredNoncontrollingInterestInSubsidiary`	$5.50M	USD	2 Qtrs

Stockholders Equity 13 line items

Line Item	Tag	Value	Unit	Period
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$1.12B	USD	Point-in-time
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$1.14B	USD	Point-in-time
Net income	`ProfitLoss`	$9.10M	USD	1 Quarter
Net income	`ProfitLoss`	$19.90M	USD	1 Quarter
Net income	`ProfitLoss`	$29.80M	USD	2 Qtrs
Net income	`ProfitLoss`	$37.20M	USD	2 Qtrs
Other comprehensive loss	`OtherComprehensiveIncomeLossNetOfTaxPeriodIncreaseDecrease`	$-19.30M	USD	2 Qtrs
Treasury stock purchases	`TreasuryStockValueAcquiredCostMethod`	$-3.90M	USD	2 Qtrs
Dividends declared to noncontrolling interest in subsidiary	`DividendsDeclaredToNoncontrollingInterestInSubsidiary`	$-2.20M	USD	2 Qtrs
Other, net	`StockholdersEquityOther`	$100.00K	USD	2 Qtrs
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$1.12B	USD	Point-in-time
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$1.14B	USD	Point-in-time
Comprehensive income	`ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest`	-	USD	2 Qtrs

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.