Allegheny Technologies Incorporated and Subsidiaries

Other Financial Information

Managed Working Capital

(Unaudited, dollars in millions)

June 30

March 31

December 31

2021

2021

2020

Accounts receivable

$

362.2

$

423.9

$

345.8

Short-term contract assets

52.3

42.0

38.9

Inventory

1,059.0

1,047.8

997.1

Accounts payable

(265.8)

(324.8)

(290.6)

Short-term contract liabilities

(103.8)

(118.7)

(111.8)

Subtotal

1,103.9

1,070.2

979.4

Allowance for doubtful accounts

3.9

4.2

4.3

LIFO reserve

(29.9)

(37.3)

(44.1)

Inventory reserves

103.6

113.6

126.9

Managed working capital

$

1,181.5

$

1,150.7

$

1,066.5

 Annualized prior 3 months sales

$

2,464.8

$

2,770.0

$

2,633.2

Managed working capital as a % of annualized sales

47.9

%

41.5

%

40.5

%

Change in managed working capital:

  Year-to-date 2021

$

115.0

  Q2 2021

$

30.8