Source document: carpenter-technology-corp_2019

Question: What was the Accrued compensation and benefits in 2019?
Facts: $71.2
Answer: $71.2 million

Question: What was the  Accrued postretirement benefits  in 2018?
Facts: 15.4
Answer: 15.4 million

Question: In which years was accrued liabilities calculated?
Facts: 2018; 2019
Answer: 2019; 2018

Question: In which year was accrued income taxes larger?
Facts: 2019
Derivation: 4.2>1.4
Answer: 2019

Question: What was the change in Accrued pension liabilities in 2019 from 2018?
Facts: 3.3; 3.4
Derivation: 3.4-3.3
Answer: 0.1 million

Question: What was the percentage change in Accrued pension liabilities in 2019 from 2018?
Facts: 3.3; 3.4
Derivation: (3.4-3.3)/3.3
Answer: 3.03 percent

Question: What was the Commodity contracts in 2019?
Facts: $45.4
Answer: $45.4 million

Question: What was the  Foreign exchange contracts in 2018?
Facts: (0.4)
Answer: (0.4) million

Question: In which years were cash flow hedges calculated?
Facts: 2017; 2018; 2019
Answer: 2019; 2018; 2017

Question: In which year was the amount of commodity contracts the largest?
Facts: 2019
Derivation: 45.4>41.4>9.4
Answer: 2019

Question: What was the change in the Total amount in 2019 from 2018?
Facts: 41.0; 44.5
Derivation: 44.5-41.0
Answer: 3.5 million

Question: What was the percentage change in the Total amount in 2019 from 2018?
Facts: 41.0; 44.5
Derivation: (44.5-41.0)/41.0
Answer: 8.54 percent

Question: What are the business segments the company operates in?
Facts: Specialty Alloys Operations (“SAO”) and Performance Engineered Products (“PEP”).
Answer: Specialty Alloys Operations (“SAO”) and Performance Engineered Products (“PEP”).

Question: What is the Aerospace and Defense value in 2019?
Facts: $1,327.9
Answer: $1,327.9 million

Question: In which years was the total net sales calculated?
Facts: 2017; 2018; 2019
Answer: 2019; 2018; 2017

Question: In which year was  Distribution the largest?
Facts: 2019
Derivation: 136.4>131.7>118.7
Answer: 2019

Question: What was the change in Distribution in 2019 from 2018?
Facts: 131.7; 136.4
Derivation: 136.4-131.7
Answer: 4.7 million

Question: What was the percentage change in Distribution in 2019 from 2018?
Facts: 131.7; 136.4
Derivation: (136.4-131.7)/131.7
Answer: 3.57 percent

Question: What was the amount of operating income in 2019?
Facts: $241.4 million
Answer: $241.4 million

Question: What was the amount of operating income as percentage of net sales in 2018?
Facts: 8.8 percent
Answer: 8.8 percent

Question: In which years was operating income calculated?
Facts: 2018; 2019
Answer: 2019; 2018

Question: In which year was the operating margin larger?
Facts: 2019
Derivation: 10.1%>8.8%
Answer: 2019

Question: What was the change in the amount of surcharge revenue from 2018 to 2019?
Facts: 365.4; 438.1
Derivation: 438.1-365.4
Answer: 72.7 million

Question: What was the percentage change in the amount of surcharge revenue from 2018 to 2019?
Facts: 365.4; 438.1
Derivation: (438.1-365.4)/365.4
Answer: 19.9 percent

Question: What was the Postretirement provisions in 2019?
Facts: 35.7
Answer: 35.7 million

Question: What was the  Net operating loss carryforwards in 2018?
Facts: 26.5
Answer: 26.5 million

Question: In which years was the amount of deferred tax liabilities, net calculated?
Facts: 2018; 2019
Answer: 2019; 2018

Question: In which year was the amount of Postretirement provisions larger?
Facts: 2019
Derivation: 35.7>33.7
Answer: 2019

Question: What was the change in Pensions in 2019 from 2018?
Facts: 66.8; 86.9
Derivation: 86.9-66.8
Answer: 20.1 million

Question: What was the percentage change in Pensions in 2019 from 2018?
Facts: 66.8; 86.9
Derivation: (86.9-66.8)/66.8
Answer: 30.09 percent

Question: What does net pension expense include?
Facts: includes the net periodic benefit costs related to both our pension and other postretirement plans.
Answer: includes the net periodic benefit costs related to both our pension and other postretirement plans.

Question: When was the changes to retirement plans offered to certain employees announced?
Facts: In September 2016
Answer: In September 2016

Question: In which years was Net Pension Expense calculated?
Facts: 2017; 2018; 2019
Answer: 2019; 2018; 2017

Question: In which year was Other postretirement plans largest?
Facts: 2018
Derivation: 2.9>2.6>1.8
Answer: 2018

Question: What was the change in Pension Plans in 2019 from 2018?
Facts: 11.3; 9.8
Derivation: 9.8-11.3
Answer: -1.5 million

Question: What was the percentage change in Pension Plans in 2019 from 2018?
Facts: 11.3; 9.8
Derivation: (9.8-11.3)/11.3
Answer: -13.27 percent

Question: What was the Proceeds from insurance recovery in 2019?
Facts: 11.4
Answer: 11.4 million

Question: What does management believe the free cash flow measure provides?
Facts: useful information to investors regarding our financial condition because it is a measure of cash generated which management evaluates for alternative uses
Answer: useful information to investors regarding our financial condition because it is a measure of cash generated which management evaluates for alternative uses

Question: In which years was free cash flow calculated?
Facts: 2017; 2018; 2019
Answer: 2019; 2018; 2017

Question: In which year was the Proceeds from disposals of property, plant and equipment and assets held for sale largest?
Facts: 2017
Derivation: 2.5>1.9>0.4
Answer: 2017

Question: What was the change in Net cash provided from operating activities in 2019 from 2018?
Facts: 209.2; 232.4
Derivation: 232.4-209.2
Answer: 23.2 million

Question: What was the percentage change in Net cash provided from operating activities in 2019 from 2018?
Facts: 209.2; 232.4
Derivation: (232.4-209.2)/209.2
Answer: 11.09 percent

Question: What are Quarterly sales and earnings results normally influenced by?
Facts: seasonal factors
Answer: seasonal factors

Question: Why are the first two fiscal quarters typically the lowest?
Facts: principally because of annual plant vacation and maintenance shutdowns by the Company and by many of its customers. However, the timing of major changes in the general economy or the markets for certain products can alter this pattern.
Answer: principally because of annual plant vacation and maintenance shutdowns by the Company and by many of its customers. However, the timing of major changes in the general economy or the markets for certain products can alter this pattern.

Question: What is the net sales for 2019 for each quarter in chronological order?
Facts: $556.5; $572.4; $609.9; $641.4
Answer: $572.4; $556.5; $609.9; $641.4 million

Question: Which quarter was the net income in 2019 the largest?
Facts: Third Quarter
Derivation: 51.1>48.9>35.5>31.5
Answer: Third Quarter

Question: What was the change in net income in First Quarter in 2019 from 2018?
Facts: 23.4; 31.5
Derivation: 31.5-23.4
Answer: 8.1 million

Question: What was the percentage change in net income in First Quarter in 2019 from 2018?
Facts: 23.4; 31.5
Derivation: (31.5-23.4)/23.4
Answer: 34.62 percent

Question: What was the amount of Income before income taxes in 2019?
Facts: $216.0
Answer: $216.0 million

Question: What was the amount of  Domestic  Income before income taxes in 2018?
Facts: $140.3
Answer: $140.3 million

Question: What are the different types of operations for which income before income taxes was provided?
Facts: Domestic; Foreign
Answer: Domestic; Foreign

Question: In which year was Foreign largest?
Facts: 2018
Derivation: 19.9>14.2>11.8
Answer: 2018

Question: What was the change in Foreign in 2019 from 2018?
Facts: 11.8; 19.9
Derivation: 11.8-19.9
Answer: -8.1 million

Question: What was the percentage change in Foreign in 2019 from 2018?
Facts: 11.8; 19.9
Derivation: (11.8-19.9)/19.9
Answer: -40.7 percent

Question: What do the amounts in parentheses in the table indicate?
Facts: debits to income/loss.
Answer: debits to income/loss.

Question: Where are Net actuarial loss and Prior service cost included?
Facts: in the computation of net periodic benefit cost (see Note 11 for additional details).
Answer: in the computation of net periodic benefit cost (see Note 11 for additional details).

Question: In which years is information on the amounts reclassified from AOCI provided?
Facts: 2018; 2019
Answer: 2019; 2018

Question: In which year was the amount of tax benefit larger?
Facts: 2018
Derivation: 4.4>2.1
Answer: 2018

Question: What was the change in Forward interest rate swaps in 2019 from 2018?
Facts: 0.4
Derivation: 0.4-0.4
Answer: 0 million

Question: What was the percentage change in Forward interest rate swaps in 2019 from 2018?
Facts: 0.4
Derivation: (0.4-0.4)/0.4
Answer: 0 percent

Question: What is the carrying value of long-term debt in 2019?
Facts: $550.6
Answer: $550.6 million

Question: What is the fair value of long-term debt in 2018?
Facts: $558.3
Answer: $558.3 million

Question: In which years is the carrying and fair values of long-term debt provided?
Facts: 2018; 2019
Answer: 2019; 2018

Question: In which year was the fair value of Company-owned life insurance larger?
Facts: 2019
Derivation: 17.9>16.4
Answer: 2019

Question: What was the change in the fair value of Company-owned life insurance in 2019 from 2018?
Facts: 16.4; 17.9
Derivation: 17.9-16.4
Answer: 1.5 million

Question: What was the percentage change in the fair value of Company-owned life insurance in 2019 from 2018?
Facts: 16.4; 17.9
Derivation: (17.9-16.4)/16.4
Answer: 9.15 percent

Question: What does the service cost component of net pension expense represent?
Facts: the estimated cost of future pension liabilities earned associated with active employees. The pension earnings, interest and deferrals (“pension EID”) is comprised of the expected return on plan assets, interest costs on the projected benefit obligations of the plans and amortization of actuarial gains and losses and prior service costs.
Answer: the estimated cost of future pension liabilities earned associated with active employees. The pension earnings, interest and deferrals (“pension EID”) is comprised of the expected return on plan assets, interest costs on the projected benefit obligations of the plans and amortization of actuarial gains and losses and prior service costs.

Question: How is net pension expense recorded?
Facts: recorded in accounts that are included in both the cost of sales and selling, general and administrative expenses based on the function of the associated employees and in other income (expense), net.
Answer: recorded in accounts that are included in both the cost of sales and selling, general and administrative expenses based on the function of the associated employees and in other income (expense), net.

Question: In which years is the net pension expense recorded?
Facts: 2017; 2018; 2019
Answer: 2019; 2018; 2017

Question: In which year was the total cost of sales the largest?
Facts: 2017
Derivation: 20.2>10.5>10.0
Answer: 2017

Question: What was the change in Total selling, general and administrative expenses in 2019 from 2018?
Facts: 1.5; 1.6
Derivation: 1.5-1.6
Answer: -0.1 million

Question: What was the percentage change in Total selling, general and administrative expenses in 2019 from 2018?
Facts: 1.5; 1.6
Derivation: (1.5-1.6)/1.6
Answer: -6.25 percent

Question: What was the Diluted earnings per common share in 2019?
Facts: $3.43
Answer: $3.43

Question: What was the Basic earnings per common share in 2018?
Facts: $3.96
Answer: $3.96

Question: In which years is the diluted earnings per common share calculated?
Facts: 2017; 2018; 2019
Answer: 2019; 2018; 2017

Question: In which year was the Weighted average number of common shares outstanding, basic largest?
Facts: 2019
Derivation: 47.7>47.2>47.0
Answer: 2019

Question: What was the change in Weighted average number of common shares outstanding, basic in 2019 from 2018?
Facts: 47.2; 47.7
Derivation: 47.7-47.2
Answer: 0.5 million

Question: What was the percentage change in Weighted average number of common shares outstanding, basic in 2019 from 2018?
Facts: 47.2; 47.7
Derivation: (47.7-47.2)/47.2
Answer: 1.06 percent

Question: What did Fiscal year 2019 include?
Facts: $1.2 million of acquisition-related costs related to LPW Technology Ltd
Answer: $1.2 million of acquisition-related costs related to LPW Technology Ltd

Question: What was the  Net sales for 2019?
Facts: $2,380.2
Answer: $2,380.2 million

Question: In which years was the amount of net sales provided?
Facts: 2015; 2016; 2017; 2018; 2019
Answer: 2019; 2018; 2017; 2016; 2015

Question: In which year was the Cash dividend-common the largest?
Facts: 2019
Derivation: $0.80>$0.72
Answer: 2019

Question: What was the change in operating income in 2019 from 2018?
Facts: 189.3; 241.4
Derivation: $241.4-$189.3
Answer: 52.1 million

Question: What was the percentage change in operating income in 2019 from 2018?
Facts: 189.3; 241.4
Derivation: ($241.4-$189.3)/$189.3
Answer: 27.52 percent

Question: What were the interest costs in 2019?
Facts: $31.1 million
Answer: $31.1 million

Question: How is the interest coverage ratio defined?
Facts: The interest coverage ratio is defined in the Credit Agreement as, for any period, the ratio of consolidated earnings before interest, taxes, depreciation and amortization and non-cash net pension expense (“EBITDA”) to consolidated interest expense for such period.
Answer: The interest coverage ratio is defined in the Credit Agreement as, for any period, the ratio of consolidated earnings before interest, taxes, depreciation and amortization and non-cash net pension expense (“EBITDA”) to consolidated interest expense for such period.

Question: In which years was the amount of long-term debt calculated?
Facts: 2018; 2019
Answer: 2019; 2018

Question: In which year was Total debt larger?
Facts: 2019
Derivation: 550.6>545.7
Answer: 2019

Question: What was the change in Total debt in 2019 from 2018?
Facts: 545.7; 550.6
Derivation: 550.6-545.7
Answer: 4.9 million

Question: What was the percentage change in Total debt in 2019 from 2018?
Facts: 545.7; 550.6
Derivation: (550.6-545.7)/545.7
Answer: 0.9 percent

Question: Where can further information on free cash flow and net sales excluding surcharge revenue be found?
Facts: See the section “Non-GAAP Financial Measures”
Answer: See the section “Non-GAAP Financial Measures”

Question: What does the amount of Pounds sold include?
Facts: Includes pounds from Specialty Alloys Operations segment, and certain Performance Engineered Products segment businesses including Dynamet, Carpenter Powder Products and LPW Technology Ltd.
Answer: Includes pounds from Specialty Alloys Operations segment, and certain Performance Engineered Products segment businesses including Dynamet, Carpenter Powder Products and LPW Technology Ltd.

Question: In which years was Net income calculated?
Facts: 2017; 2018; 2019
Answer: 2019; 2018; 2017

Question: In which year was the diluted earnings per share largest?
Facts: 2018
Derivation: 3.92>3.43>0.99
Answer: 2018

Question: What was the change in Purchases of property, plant, equipment and software in 2019 from 2018?
Facts: 135.0; 180.3
Derivation: 180.3-135.0
Answer: 45.3 million

Question: What was the percentage change in Purchases of property, plant, equipment and software in 2019 from 2018?
Facts: 135.0; 180.3
Derivation: (180.3-135.0)/135.0
Answer: 33.56 percent

Question: How are pension benefits currently paid?
Facts: currently paid from plan assets and other benefits are currently paid from corporate assets.
Answer: currently paid from plan assets and other benefits are currently paid from corporate assets.

Question: What is the amount of Estimated pension benefit payments expected in 2020?
Facts: $83.0
Answer: $83.0

Question: What is the  Pension Benefits and Other Benefits for 2021 respectively?
Facts: $15.1; $82.4
Answer: $82.4; $15.1 million

Question: In which year from 2020-2024 would the amount for Other Benefits be the lowest?
Facts: 2020
Derivation: 14.7<15.1
Answer: 2020

Question: What was the change in the amount under other benefits in 2021 from 2020?
Facts: 14.7; 15.1
Derivation: 15.1-14.7
Answer: 0.4 million

Question: What was the percentage change in the amount under other benefits in 2021 from 2020?
Facts: 14.7; 15.1
Derivation: (15.1-14.7)/14.7
Answer: 2.72 percent

Question: What was operating income in 2018?
Facts: $189.3 million
Answer: $189.3 million

Question: What was operating income in 2017 as a percentage of net sales?
Facts: 6.8 percent
Answer: 6.8 percent

Question: In which years was operating income calculated?
Facts: 2017; 2018
Answer: 2018; 2017

Question: In which year was the operating margin larger?
Facts: 2018
Derivation: 8.8%>6.8%
Answer: 2018

Question: What was the change in operating income in 2018 from 2017?
Facts: 121.5; 189.3
Derivation: 189.3-121.5
Answer: 67.8 million

Question: What was the percentage change in operating income in 2018 from 2017?
Facts: 121.5; 189.3
Derivation: (189.3-121.5)/121.5
Answer: 55.8 percent

Question: What was the Repairs and maintenance costs in 2019?
Facts: $120.4
Answer: $120.4 million

Question: What was the  Noncash purchases of property, plant, equipment and software costs in 2018?
Facts: $16.5
Answer: $16.5 million

Question: In which years was the supplemental data provided?
Facts: 2017; 2018; 2019
Answer: 2019; 2018; 2017

Question: In which year was Repairs and maintenance costs the largest?
Facts: 2019
Derivation: 120.4>108.0>99.1
Answer: 2019

Question: What was the change in Repairs and maintenance costs in 2019 from 2018?
Facts: 108.0; 120.4
Derivation: 120.4-108.0
Answer: 12.4 million

Question: What was the percentage change in Repairs and maintenance costs in 2019 from 2018?
Facts: 108.0; 120.4
Derivation: (120.4-108.0)/108.0
Answer: 11.48 percent

Question: What was the amount of Interest income in 2019?
Facts: 0.1
Answer: 0.1 million

Question: What was the Total other income (expense), net in 2018?
Facts: $(0.8)
Answer: $(0.8) million

Question: In which years is total Other Income (Expense), Net calculated?
Facts: 2017; 2018; 2019
Answer: 2019; 2018; 2017

Question: In which year was Other the largest?
Facts: 2017
Derivation: 1.2>0.2
Answer: 2017

Question: What was the change in interest income in 2019 from 2018?
Facts: 0.1; 0.3
Derivation: 0.1-0.3
Answer: -0.2 million

Question: What was the percentage change in interest income in 2019 from 2018?
Facts: 0.1; 0.3
Derivation: (0.1-0.3)/0.3
Answer: -66.67 percent

Question: What was the gross profit in 2018?
Facts: $382.3 million
Answer: $382.3 million

Question: What was the gross profit in 2017 as a percentage of net sales?
Facts: 16.7 percent
Answer: 16.7 percent

Question: In which years was gross profit calculated?
Facts: 2017; 2018
Answer: 2018; 2017

Question: In which year was the Gross margin excluding surcharge revenue larger?
Facts: 2018
Derivation: 21.3%>19.3%
Answer: 2018

Question: What was the change in gross profit in 2018 from 2017?
Facts: 300.8; 382.3
Derivation: 382.3-300.8
Answer: 81.5 million

Question: What was the percentage change in gross profit in 2018 from 2017?
Facts: 300.8; 382.3
Derivation: (382.3-300.8)/300.8
Answer: 27.09 percent

Question: What was the amount of Land in 2019?
Facts: $35.6
Answer: $35.6

Question: What was the amount of  Buildings and building equipment in 2018?
Facts: 500.0
Answer: 500.0

Question: In which years was Property, Plant and Equipment calculated?
Facts: 2018; 2019
Answer: 2019; 2018

Question: In which year was the amount of Land larger?
Facts: 2019
Derivation: 35.6>34.8
Answer: 2019

Question: What was the change in Buildings and building equipment in 2019 from 2018?
Facts: 500.0; 512.9
Derivation: 512.9-500.0
Answer: 12.9 million

Question: What was the percentage change in Buildings and building equipment in 2019 from 2018?
Facts: 500.0; 512.9
Derivation: (512.9-500.0)/500.0
Answer: 2.58 percent