10-Q Filing

TITANIUM METALS CORP CIK: 1011657 Q3 2010

Filing Information

Form Type	10-Q
Accession Number	`0001193125-10-244584`
Period End Date	20100930
Filing Date	20101103
Fiscal Year	2010
Fiscal Period	Q3
XBRL Instance	tie-20100930.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 70 Income Statement 64 Cash Flow Statement 60 Stockholders Equity 12

Balance Sheet 70 line items

Line Item	Tag	Value	Unit	Period
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$221.90M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$169.40M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$143.60M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$45.00M	USD	Point-in-time
Accounts and other receivables	`ReceivablesNetCurrent`	$85.00M	USD	Point-in-time
Accounts and other receivables	`ReceivablesNetCurrent`	$125.80M	USD	Point-in-time
Notes receivable from affiliates	`DueFromRelatedPartiesCurrent`	$67.30M	USD	Point-in-time
Notes receivable from affiliates	`DueFromRelatedPartiesCurrent`	$33.80M	USD	Point-in-time
Inventories	`InventoryNet`	$475.60M	USD	Point-in-time
Inventories	`InventoryNet`	$448.00M	USD	Point-in-time
Refundable income taxes	`IncomeTaxesReceivable`	$3.00M	USD	Point-in-time
Refundable income taxes	`IncomeTaxesReceivable`	$8.20M	USD	Point-in-time
Deferred income taxes	`DeferredTaxAssetsNetCurrent`	$25.30M	USD	Point-in-time
Deferred income taxes	`DeferredTaxAssetsNetCurrent`	$25.60M	USD	Point-in-time
Other	`OtherAssetsCurrent`	$9.40M	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`	$901.00M	USD	Point-in-time
Marketable securities	`MarketableSecuritiesNoncurrent`	$20.60M	USD	Point-in-time
Marketable securities	`MarketableSecuritiesNoncurrent`	$35.00M	USD	Point-in-time
Notes receivable from affiliates	`DueFromRelatedPartiesNoncurrent`	$59.20M	USD	Point-in-time
Notes receivable from affiliates	`DueFromRelatedPartiesNoncurrent`	$58.20M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$385.10M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$416.10M	USD	Point-in-time
Deferred income taxes	`DeferredTaxAssetsNetNoncurrent`	$27.80M	USD	Point-in-time
Deferred income taxes	`DeferredTaxAssetsNetNoncurrent`	$16.80M	USD	Point-in-time
Other	`OtherAssetsNoncurrent`	$58.60M	USD	Point-in-time
Other	`OtherAssetsNoncurrent`	$58.00M	USD	Point-in-time
Total assets	`Assets`	$1.38B	USD	Point-in-time
Total assets	`Assets`	$1.47B	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$49.30M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$30.10M	USD	Point-in-time
Accrued and other current liabilities	`AccruedLiabilitiesCurrent`	$53.70M	USD	Point-in-time
Accrued and other current liabilities	`AccruedLiabilitiesCurrent`	$52.40M	USD	Point-in-time
Customer advances	`CustomerAdvancesCurrent`	$10.90M	USD	Point-in-time
Customer advances	`CustomerAdvancesCurrent`	$20.80M	USD	Point-in-time
Income taxes payable	`AccruedIncomeTaxesCurrent`	$1.00M	USD	Point-in-time
Income taxes payable	`AccruedIncomeTaxesCurrent`	$900.00K	USD	Point-in-time
Deferred income taxes	`DeferredTaxLiabilitiesCurrent`	$100.00K	USD	Point-in-time
Deferred income taxes	`DeferredTaxLiabilitiesCurrent`	$400.00K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$104.60M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$115.00M	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`	$120.80M	USD	Point-in-time
Accrued pension cost	`DefinedBenefitPensionPlanLiabilitiesNoncurrent`	$111.40M	USD	Point-in-time
Deferred income taxes	`DeferredTaxLiabilitiesNoncurrent`	$1.60M	USD	Point-in-time
Deferred income taxes	`DeferredTaxLiabilitiesNoncurrent`	$26.50M	USD	Point-in-time
Other	`OtherLiabilitiesNoncurrent`	$7.60M	USD	Point-in-time
Other	`OtherLiabilitiesNoncurrent`	$10.00M	USD	Point-in-time
Total liabilities	`Liabilities`	$254.50M	USD	Point-in-time
Total liabilities	`Liabilities`	$283.10M	USD	Point-in-time
Series A Preferred Stock	`PreferredStockValue`	$3.20M	USD	Point-in-time
Series A Preferred Stock	`PreferredStockValue`	$700.00K	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`	$509.00M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$507.70M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$788.30M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$731.00M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-138.00M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-132.00M	USD	Point-in-time
Total TIMET stockholders' equity	`StockholdersEquity`	$1.11B	USD	Point-in-time
Total TIMET stockholders' equity	`StockholdersEquity`	$1.17B	USD	Point-in-time
Noncontrolling interest in subsidiary	`MinorityInterest`	$15.50M	USD	Point-in-time
Noncontrolling interest in subsidiary	`MinorityInterest`	$17.10M	USD	Point-in-time
Total equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$1.12B	USD	Point-in-time
Total equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$1.18B	USD	Point-in-time
Total liabilities and equity	`LiabilitiesAndStockholdersEquity`	$1.47B	USD	Point-in-time
Total liabilities and equity	`LiabilitiesAndStockholdersEquity`	$1.38B	USD	Point-in-time

Income Statement 64 line items

Line Item	Tag	Value	Unit	Period
Net sales	`SalesRevenueNet`	$590.50M	USD	3 Qtrs
Net sales	`SalesRevenueNet`	$181.40M	USD	1 Quarter
Net sales	`SalesRevenueNet`	$210.30M	USD	1 Quarter
Net sales	`SalesRevenueNet`	$639.90M	USD	3 Qtrs
Cost of sales	`CostOfGoodsSold`	$163.70M	USD	1 Quarter
Cost of sales	`CostOfGoodsSold`	$501.80M	USD	3 Qtrs
Cost of sales	`CostOfGoodsSold`	$511.70M	USD	3 Qtrs
Cost of sales	`CostOfGoodsSold`	$160.70M	USD	1 Quarter
Gross margin	`GrossProfit`	$17.70M	USD	1 Quarter
Gross margin	`GrossProfit`	$128.20M	USD	3 Qtrs
Gross margin	`GrossProfit`	$88.70M	USD	3 Qtrs
Gross margin	`GrossProfit`	$49.60M	USD	1 Quarter
Selling, general, administrative and development expense	`SellingGeneralAndAdministrativeExpense`	$44.80M	USD	3 Qtrs
Selling, general, administrative and development expense	`SellingGeneralAndAdministrativeExpense`	$14.20M	USD	1 Quarter
Selling, general, administrative and development expense	`SellingGeneralAndAdministrativeExpense`	$41.50M	USD	3 Qtrs
Selling, general, administrative and development expense	`SellingGeneralAndAdministrativeExpense`	$13.60M	USD	1 Quarter
Other income, net	`OtherOperatingIncomeExpenseNet`	$1.70M	USD	3 Qtrs
Other income, net	`OtherOperatingIncomeExpenseNet`	$100.00K	USD	3 Qtrs
Operating income	`OperatingIncomeLoss`	$45.60M	USD	3 Qtrs
Operating income	`OperatingIncomeLoss`	$86.80M	USD	3 Qtrs
Operating income	`OperatingIncomeLoss`	$36.00M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$3.50M	USD	1 Quarter
Other non-operating (expense) income, net	`OtherNonoperatingIncomeExpense`	$-2.90M	USD	1 Quarter
Other non-operating (expense) income, net	`OtherNonoperatingIncomeExpense`	$3.10M	USD	3 Qtrs
Other non-operating (expense) income, net	`OtherNonoperatingIncomeExpense`	$500.00K	USD	3 Qtrs
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$3.50M	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$33.10M	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$89.90M	USD	3 Qtrs
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$46.10M	USD	3 Qtrs
Provision for income taxes	`IncomeTaxExpenseBenefit`	$2.40M	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$15.20M	USD	3 Qtrs
Provision for income taxes	`IncomeTaxExpenseBenefit`	$11.40M	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$31.00M	USD	3 Qtrs
Net income	`ProfitLoss`	$21.70M	USD	1 Quarter
Net income	`ProfitLoss`	$58.90M	USD	3 Qtrs
Net income	`ProfitLoss`	$1.10M	USD	1 Quarter
Net income	`ProfitLoss`	$30.90M	USD	3 Qtrs
Noncontrolling interest in net (loss) income of subsidiary	`NetIncomeLossAttributableToNoncontrollingInterest`	$1.60M	USD	3 Qtrs
Noncontrolling interest in net (loss) income of subsidiary	`NetIncomeLossAttributableToNoncontrollingInterest`	$-100.00K	USD	1 Quarter
Noncontrolling interest in net (loss) income of subsidiary	`NetIncomeLossAttributableToNoncontrollingInterest`	$200.00K	USD	1 Quarter
Noncontrolling interest in net (loss) income of subsidiary	`NetIncomeLossAttributableToNoncontrollingInterest`	$1.30M	USD	3 Qtrs
Net income attributable to TIMET stockholders	`NetIncomeLoss`	$1.20M	USD	1 Quarter
Net income attributable to TIMET stockholders	`NetIncomeLoss`	$29.60M	USD	3 Qtrs
Net income attributable to TIMET stockholders	`NetIncomeLoss`	$21.50M	USD	1 Quarter
Net income attributable to TIMET stockholders	`NetIncomeLoss`	$57.30M	USD	3 Qtrs
Dividends on Series A Preferred Stock	`PreferredStockDividendsAndOtherAdjustments`	$100.00K	USD	3 Qtrs
Dividends on Series A Preferred Stock	`PreferredStockDividendsAndOtherAdjustments`	$100.00K	USD	1 Quarter
Dividends on Series A Preferred Stock	`PreferredStockDividendsAndOtherAdjustments`	$200.00K	USD	3 Qtrs
Net income attributable to TIMET common stockholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$1.10M	USD	1 Quarter
Net income attributable to TIMET common stockholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$29.40M	USD	3 Qtrs
Net income attributable to TIMET common stockholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$21.50M	USD	1 Quarter
Net income attributable to TIMET common stockholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$57.20M	USD	3 Qtrs
Earnings per share attributable to TIMET common stockholders	`EarningsPerShareBasicAndDiluted`	$0.32	USD	3 Qtrs
Earnings per share attributable to TIMET common stockholders	`EarningsPerShareBasicAndDiluted`	$0.12	USD	1 Quarter
Earnings per share attributable to TIMET common stockholders	`EarningsPerShareBasicAndDiluted`	$0.16	USD	3 Qtrs
Earnings per share attributable to TIMET common stockholders	`EarningsPerShareBasicAndDiluted`	$0.01	USD	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	180.60M	shares	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	180.20M	shares	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	179.80M	shares	3 Qtrs
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	180.90M	shares	3 Qtrs
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	180.40M	shares	1 Quarter
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	180.50M	shares	3 Qtrs
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	180.60M	shares	1 Quarter
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	180.90M	shares	3 Qtrs

Cash Flow Statement 60 line items

Line Item	Tag	Value	Unit	Period
Net income	`ProfitLoss`	$21.70M	USD	1 Quarter
Net income	`ProfitLoss`	$58.90M	USD	3 Qtrs
Net income	`ProfitLoss`	$1.10M	USD	1 Quarter
Net income	`ProfitLoss`	$30.90M	USD	3 Qtrs
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$39.30M	USD	3 Qtrs
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$38.10M	USD	3 Qtrs
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$5.60M	USD	3 Qtrs
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$-2.10M	USD	3 Qtrs
Other, net	`AdjustmentsNoncashItemsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesOther`	$1.70M	USD	3 Qtrs
Other, net	`AdjustmentsNoncashItemsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesOther`	$2.60M	USD	3 Qtrs
Receivables	`IncreaseDecreaseInAccountsReceivable`	$41.70M	USD	3 Qtrs
Receivables	`IncreaseDecreaseInAccountsReceivable`	$-14.70M	USD	3 Qtrs
Inventories	`IncreaseDecreaseInInventories`	$-21.70M	USD	3 Qtrs
Inventories	`IncreaseDecreaseInInventories`	$-71.80M	USD	3 Qtrs
Accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-31.20M	USD	3 Qtrs
Accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$22.30M	USD	3 Qtrs
Income taxes	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$3.20M	USD	3 Qtrs
Income taxes	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$5.00M	USD	3 Qtrs
Other, net	`IncreaseDecreaseInOtherOperatingCapitalNet`	$7.50M	USD	3 Qtrs
Other, net	`IncreaseDecreaseInOtherOperatingCapitalNet`	$-2.40M	USD	3 Qtrs
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$129.50M	USD	3 Qtrs
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$106.20M	USD	3 Qtrs
Capital expenditures	`PaymentsToAcquirePropertyPlantAndEquipment`	$11.30M	USD	3 Qtrs
Capital expenditures	`PaymentsToAcquirePropertyPlantAndEquipment`	$24.90M	USD	3 Qtrs
Purchases of marketable securities	`PaymentsToAcquireMarketableSecurities`	$3.00M	USD	3 Qtrs
Purchases of marketable securities	`PaymentsToAcquireMarketableSecurities`	$700.00K	USD	3 Qtrs
Loans	`OriginationOfNotesReceivableFromRelatedParties`	$208.80M	USD	3 Qtrs
Collections of principal payments	`RepaymentOfNotesReceivableFromRelatedParties`	$176.80M	USD	3 Qtrs
Collections of principal payments	`RepaymentOfNotesReceivableFromRelatedParties`	$500.00K	USD	3 Qtrs
Proceeds from sale of property, plant and equipment	`ProceedsFromSaleOfOtherPropertyPlantAndEquipment`	$3.60M	USD	3 Qtrs
Other, net	`PaymentsForProceedsFromOtherInvestingActivities`	$400.00K	USD	3 Qtrs
Other, net	`PaymentsForProceedsFromOtherInvestingActivities`	$400.00K	USD	3 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-21.90M	USD	3 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-46.70M	USD	3 Qtrs
Dividends paid to noncontrolling interest in subsidiary	`PaymentsOfDividendsMinorityInterest`	$5.50M	USD	3 Qtrs
Dividends paid to noncontrolling interest in subsidiary	`PaymentsOfDividendsMinorityInterest`	$2.20M	USD	3 Qtrs
Treasury stock purchases	`PaymentsForRepurchaseOfCommonStock`	$3.90M	USD	3 Qtrs
Treasury stock purchases	`PaymentsForRepurchaseOfCommonStock`	$5.90M	USD	3 Qtrs
Other, net	`ProceedsFromPaymentsForOtherFinancingActivities`	$-200.00K	USD	3 Qtrs
Other, net	`ProceedsFromPaymentsForOtherFinancingActivities`	$-100.00K	USD	3 Qtrs
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-11.50M	USD	3 Qtrs
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-6.30M	USD	3 Qtrs
Net cash provided by operating, investing and financing activities	`NetCashUsedInProvidedByOperatingInvestingAndFinancingActivities`	$53.20M	USD	3 Qtrs
Net cash provided by operating, investing and financing activities	`NetCashUsedInProvidedByOperatingInvestingAndFinancingActivities`	$96.10M	USD	3 Qtrs
Effect of exchange rate changes on cash	`EffectOfExchangeRateOnCashAndCashEquivalents`	$2.50M	USD	3 Qtrs
Effect of exchange rate changes on cash	`EffectOfExchangeRateOnCashAndCashEquivalents`	$-700.00K	USD	3 Qtrs
Net cash provided during period	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$98.60M	USD	3 Qtrs
Net cash provided during period	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$52.50M	USD	3 Qtrs
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$221.90M	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`	$143.60M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$45.00M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$221.90M	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`	$143.60M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$45.00M	USD	Point-in-time
Interest	`InterestPaidNet`	$600.00K	USD	3 Qtrs
Interest	`InterestPaidNet`	$400.00K	USD	3 Qtrs
Income taxes	`IncomeTaxesPaidNet`	$20.40M	USD	3 Qtrs
Income taxes	`IncomeTaxesPaidNet`	$14.10M	USD	3 Qtrs

Stockholders Equity 12 line items

Line Item	Tag	Value	Unit	Period
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$1.12B	USD	Point-in-time
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$1.18B	USD	Point-in-time
Net income	`ProfitLoss`	$21.70M	USD	1 Quarter
Net income	`ProfitLoss`	$58.90M	USD	3 Qtrs
Net income	`ProfitLoss`	$1.10M	USD	1 Quarter
Net income	`ProfitLoss`	$30.90M	USD	3 Qtrs
Other comprehensive loss	`OtherComprehensiveIncomeLossNetOfTaxPeriodIncreaseDecrease`	$5.00M	USD	3 Qtrs
Treasury stock purchases	`TreasuryStockValueAcquiredCostMethod`	$-3.90M	USD	3 Qtrs
Dividends to noncontrolling interest	`DividendsDeclaredToNoncontrollingInterestInSubsidiary`	$-2.20M	USD	3 Qtrs
Other, net	`StockholdersEquityOther`	$100.00K	USD	3 Qtrs
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$1.12B	USD	Point-in-time
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$1.18B	USD	Point-in-time

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