SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
Current Report Pursuant
to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): SEPTEMBER 12, 2003
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THE TIMKEN COMPANY
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(Exact Name of Registrant as Specified in its Charter)
OHIO
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(State or Other Jurisdiction of Incorporation)
1-1169 34-0577130
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(Commission File Number) (I.R.S. Employer Identification No.)
1835 DUEBER AVENUE, S.W., CANTON, OHIO 44706-2798
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(Address of Principal Executive Offices) (Zip Code)
(330) 438-3000
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(Registrant's Telephone Number, Including Area Code)
ITEM 5. OTHER EVENTS AND REGULATION FD DISCLOSURE
As previously announced, The Timken Company ("Timken") has reorganized its
Automotive and Industrial Groups. Timken's automotive aftermarket business is
part of the Industrial Group, which is now managing the combined distribution
operations. Timken's sales to emerging markets - principally in central and
eastern Europe and Asia - previously were reported as part of the Industrial
Group. Now, emerging market sales to automotive original equipment manufacturers
are included in the Automotive Group. No changes have been made in reporting
with respect to the Steel Group.
Reported segments for Timken now include:
1. AUTOMOTIVE GROUP - Global sales of bearings and solutions other than steel
to automotive original equipment manufacturers.
2. INDUSTRIAL GROUP - Global sales of bearings and solutions other than steel
to a diverse end market of manufacturers. These include industrial
equipment, off-highway, rail and aerospace and defense. This segment also
includes all results for Distribution customers.
3. STEEL GROUP - Global sales of steel products, including tubes, bars,
specialty and precision component products.
The attached Exhibit 99.1 reflects segment financial information for the years
ended and as of December 31, 2002, 2001 and 2000, reflecting the reorganization
of the Automotive and Industrial Group. The 2000 segment financial information
does not reflect such reorganization. Since the Automotive and Industrial Group
structure was not in place during 2000, Timken's financial records cannot
reflect this separation. These results do not include financial results for
Torrington, which was acquired in February of 2003. In addition to reflecting
the reorganization of the Automotive and Industrial Groups, earnings for all
three years are shown both as reported and as adjusted to exclude impairment,
restructuring and reorganization expenses and receipt of Continued Dumping &
Subsidy Offset Act (CDSOA) payments. Management uses adjusted financial
information to measure the financial performance of each Group.
Exhibits.
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99.1 Segment Financial Information for 2002, 2001 and 2000
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
THE TIMKEN COMPANY
By: /s/ William R. Burkhart
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William R. Burkhart
Senior Vice President and General
Counsel
Date: September 12, 2003
EXHIBIT INDEX
Exhibit
Number Description of Document
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99.1 Segment Financial Information for 2002, 2001 and 2000