What changed in this filing

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Item 1. Business

2026-02-13 compared with 2025-02-20 · 38 added, 40 removed, 198 unchanged (28% of the section changed)

1 unchanged sentence

Timken designs and manages a portfolio of engineered bearings and industrial motion products, and provides related services.

The Company’s growing portfolio features many strong brands, including Timken®, GGB®, Philadelphia Gear®, Cone Drive®, Rollon®, Nadella®, Diamond®, Drives®, Groeneveld®, BEKA®, Des-Case®, Lovejoy®, Lagersmit® and CGI.

The Company’s growing portfolio features many strong brands, including Timken®, GGB®, Philadelphia Gear®, Cone Drive®, CGI®, Rollon®, Nadella®, Rosa Sistemi®, Diamond®, Drives®, Groeneveld®, BEKA®, Des-Case®, Lovejoy®, PT Tech®, Torsion Control Products® and Lagersmit®.

The Company was founded in 1899 by Henry Timken, who received two patents on the design of a tapered roller bearing.

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Linear Motion Solutions.

The Company designs and manufactures a global portfolio of Rollon® and Nadella® engineered linear motion products, including linear guides, telescopic rails, linear actuators, seventh-axis robotic transfer units and gantry systems.

These engineered products are highly customized to control movements with different variability and complexity based on the application.

Rollon and Nadella products serve a wide range of industries, including passenger rail, aerospace, packaging and logistics, medical and automation.

The Company designs and manufactures a global portfolio of Rollon®, Nadella®, Rosa Sistemi® and iMS™ engineered linear motion products, including linear guides, telescopic rails, linear actuators, seventh-axis robotic transfer units and gantry systems.

These engineered products are highly customized to control movements with different variability and complexity based on the application, and serve a wide range of industries, including passenger rail, aerospace, packaging and logistics, medical and automation.

Industrial Drives.

The Company’s Philadelphia Gear® line of low- and high-speed gear drive designs are used in large-scale industrial applications such as crushing and pulverizing equipment, conveyors and pumps, power generation and military marine.

These gear drive designs are custom made to meet user specifications, offering a wide array of size, footprint and gear arrangements.

The Company is primarily focused on energy, defense, water and mining markets.

These gear drive designs are custom-engineered to meet demanding user specifications, for a wide array of size, footprint and gear arrangements, all designed to operate in technically challenging application environments.

Timken has one of the broadest and most differentiated precision drives product portfolios in the global automation industry.

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Automatic Lubrication Systems.

The Company's Groeneveld® and BEKA® lubrication systems include a wide variety of automatic lubrication delivery devices, oil management systems and safety support systems designed to reduce operational costs for customers while increasing equipment uptime, productivity and safety.

The Company's Groeneveld® and BEKA® lubrication systems include a wide variety of automatic lubrication delivery devices, oil management systems and bypass filtration products designed to reduce operational costs and carbon footprint for customers while increasing equipment uptime, productivity and safety.

These systems support many industries, including renewable energy, transportation, construction, mining, port, forestry and agriculture.

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Des-Case is a technical leader in branded filtration solutions that sit adjacent to Timken's automatic lubrication systems.

Des-Case features a comprehensive product offering including breathers, filter elements, condition monitoring, lubrication storage and filter systems used throughout the entire lubricant lifecycle.

These solutions are critical for enhancing reliability, reducing downtime and extending the useful life of customers' systems.

The Company also designs and manufactures Drives® helicoid and sectional augers for agricultural applications, like conveying, digging and combines.

The Company's specialized industrial motion components include Shuton and Ipiranga ball screws among other key products.

The Company's specialized industrial motion components include Shuton-Ipiranga ball screws and Timken® magnetic encoders among other key products.

Power Systems.

Timken services components in the industrial customer's drive train, including switch gears, electric motors and generators, gearboxes, bearings, couplings and control panels.

The Company’s Philadelphia Gear services for gear drive applications include onsite technical services;

Timken services, systems and components in the industrial customer's drive train, including switch gears, electric motors and generators, gearboxes, bearings, couplings and control panels.

The Company’s Philadelphia Gear and Standard Machine brands services include Onsite Technical Services (OTS)™;

inspection, repair and upgrade capabilities;

and manufacturing of parts to specifications.

In addition, the Company’s Wazee, Smith Services, Schulz, Standard Machine and H&N service centers provide customers with services that include motor and generator rewind and repair and uptower wind turbine maintenance and repair.

Timken Power Systems commonly serves customers in the power, wind energy, hydro and fossil fuel, water management, paper, mining and general manufacturing sectors.

and manufacturing of parts to discreet specifications for a wide variety of mechanical and electrical equipment.

In addition, the Company’s Smith Services™, Schulz Electric™ and H&N Electric™ service centers provide customers with electric motor and generator rewind and repair capabilities.

Timken Power Systems commonly serves customers in the power generation, hydro, fossil fuel, wind, water management, paper, mining, agriculture and general manufacturing sectors.

Bearing Repair.

Timken bearing repair services return worn bearings to like-new specifications, which increases bearing service life and often can restore bearings in less time than required to manufacture new.

Bearing remanufacturing is available for any bearing type or brand - including competitor products - and is well-suited to heavy industrial applications such as paper, metals, mining, power generation and cement;

railroad locomotives, passenger cars and freight cars;

and aerospace engines and gearboxes.

Timken bearing repair returns used large-diameter bearings to like-new specifications, extending service life and often restoring bearings in less time than required to manufacture new replacements.

Bearing remanufacturing is available for any bearing type or brand - including competitor products - and is well-suited to heavy industries and applications such as paper, metals, mining, power generation and cement;

railroad locomotives, passenger and freight vehicles;

and select aerospace engines and gearboxes.

Sales and Distribution:

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Timken, SKF Group, Schaeffler Group, RBC Bearings and Gates Industrial Corp.

The e-business service focuses on information and business services for authorized distributors in the Engineered Bearings segment.

The e-business service focuses on information and business services for authorized distributors.

Timken has entered into individually negotiated contracts with some of its customers.

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Joint Ventures:

Investments in affiliated companies accounted for under the equity method were $0.9 million and $1.7 million, respectively, at December 31, 2024 and 2023.

The investment balance at December 31, 2024 was reported in other non-current assets on the Consolidated Balance Sheets.

Investments in affiliated companies accounted for under the equity method at December 31, 2025 and 2024 were $0.8 million and $0.9 million, respectively.

The investment balance at December 31, 2025 and 2024 was reported in other non-current assets on the Consolidated Balance Sheets.

The following table provides the backlog of orders for the Company's domestic and overseas operations at December 31, 2025 and 2024:

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Overall, the Company believes that the number of suppliers of SBQ steel is adequate to support the needs of global bearing production, and, in general, the Company is not dependent on any single source of supply.

The Company also purchases a variety of materials and components to produce industrial motion products, such as non-SBQ steel, synthetic rubber, fabrics, castings and plastics.

The Company sources these components from various suppliers in the world market.

The Company also purchases a variety of materials and components to produce industrial motion products, such as non-SBQ steel, aluminum, synthetic rubber, fabrics, castings and plastics.

The Company sources these components from various suppliers in the global market.

The Company believes its supply base is adequate to support its manufacturing requirements.

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This network develops and delivers innovative engineered bearings and industrial motion solutions and technical services.

Timken's largest technical center is located at the Company's world headquarters in North Canton, Ohio.

Timken's largest technical center is located at the Company's corporate headquarters in North Canton, Ohio.

Other smaller sites in the United States ("U.S.") include Los Alamitos, California;

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The Company continues its efforts to protect the environment and comply with environmental protection laws.

Additionally, it has invested in pollution control equipment and updated plant operational practices.

The Company's manufacturing plants are expected to have an effective environmental management system which follows the ISO 14001 principles and internal audits are performed against this standard.

Additionally, it has invested in pollution control equipment and updated facility operational practices.

The Company's manufacturing facilities are expected to have an effective environmental management system which follows the ISO 14001 principles and internal audits are performed against this standard.

Where appropriate to meet or exceed customer requirements, we are certified under the formal ISO 14001 certification process.

As of the end of 2024, 28 of the Company’s plants, which includes a majority of the Company's bearing manufacturing plants, had obtained ISO 14001 certification.

The Company establishes appropriate levels of reserves to cover its environmental expenses and has a well-established environmental compliance audit program for its domestic and international units.

This program measures performance against applicable laws, as well as against internal standards that have been established for all units worldwide.

As of the end of 2025, 41 of the Company’s facilities, which includes a majority of the Company's bearing manufacturing plants, had obtained ISO 14001 certification.

The Company establishes appropriate levels of reserves to cover its environmental expenses and has a well-established environmental compliance audit program for its global manufacturing and distribution facilities.

This program measures performance against applicable laws, as well as against internal standards that have been established for facilities worldwide.

It is difficult to assess the possible effect of compliance with future requirements that differ from existing requirements.

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The costs of such investigation and remediation activities, in the aggregate, are not expected to be material to the operations or financial position of the Company.

New laws and regulations, stricter enforcement of existing laws and regulations, the discovery of previously unknown contamination or the imposition of new clean-up requirements may require Timken to incur costs, change production methods or materials, or become the basis for new or increased liabilities that could have a materially adverse effect on the Company's business, financial condition or results of operations.

New laws and regulations, stricter enforcement of existing laws and regulations, the discovery of previously unknown contamination or the imposition of new clean-up or remediation requirements may require Timken to incur costs, change production methods or materials, or become the basis for new or increased liabilities that could have a materially adverse effect on the Company's business, financial condition or results of operations.

Other Regulations

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The Company believes that its employees and their collective knowledge and experience are among its most valuable resources.

The Company is committed to providing a safe work environment and growth opportunities for its employees to learn and advance their career with the Company to promote and safeguard these key resources.

The Company is committed to providing a safe work environment and development opportunities for its employees to learn and advance their career with the Company to promote and safeguard these key resources.

Employee Health and Safety

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The Company's commitment to the health and safety of its employees is evidenced by its strong safety results in 2025 and 2024 shown in the charts below:

*Rates calculated as (number of injuries and illnesses x 200,000) / employee hours worked per 100 full-time workers.

*Rates calculated as (number of injuries and illnesses x 200,000) / employee hours worked.

2025 rates represent the Company's best estimate as of the date of this report

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Bureau of Labor Statistics at https://www.bls.gov/iif/.

As of December 31, 2025, 2024 quartile data had not yet been published by the U.S.

Bureau of Labor Statistics.

The Company aims to maintain a recordable rate within the top quartile of U.S.

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The Company provides professional growth and learning opportunities and individualized career development to support these objectives.

The Company also believes it is important to recognize and reward its employees with pay and comprehensive benefits that are competitive and equitable based on the local markets in which it operates.

The Company also believes it is important to recognize and reward its employees with pay and comprehensive benefits that are competitive and equitable based on the Company's performance and the local markets in which it operates.

The Company believes that having open, honest dialogue with its employees is key to maintaining its strong culture and ethical work practices.

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Exit interviews are also conducted with employees who voluntarily terminate their employment, which helps improve management processes.

The Company deploys pulse surveys to gain insights from employees’ recent experiences and to better understand how effectively it is engaging, energizing and enabling its workforce.

The Company also provides several professional development and training opportunities to advance our employees’ skills and expertise.

The Company deploys pulse surveys and conducts roundtables to gain insights from employees’ recent experiences and to better understand how effectively it is engaging, empowering and enabling its workforce.

The Company also provides a wide range of professional development and training opportunities to advance our employees’ skills and expertise.

Some of these opportunities include online-learning platforms, job-specific training, our operations development program (a training program designed to increase the internal pool of employees who are ready to take on leadership positions) and our educational reimbursement programs.

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Comprehensive leadership, skill and competency assessments are offered to company employees to best identify and address individual and team development needs and activities.

To better inform its hiring and employee development efforts, the Company has also partnered with third-party vendors to provide required training for its managers focused on leadership, diversity and inclusion.

To further our Company’s diverse and inclusive culture, Timken employee resource groups (“ERGs”) around the world help us understand and address the challenges and opportunities faced by our diverse workforce and the benefits inclusion offers in advancing our collective knowledge.

Our employees continue to drive new programming and culture acumen development across our six primary ERGs:

Women’s International Network (WIN), Multicultural Association of Professionals (MAP), Young Professionals Network (YPN), Veteran Engagement at Timken (VET), Timken PRIDE Network (TPN), and Celebrating Abilities Network (CAN).

Additionally, we partner with an online platform, Aperian®, to help our employees further their global competency.

The Company partners with an online platform, Aperian®, to help its employees further their team skills, collaboration and cultural acumen.

Additionally, comprehensive Mentoring and Coaching Programs are offered to employees across all functions that accelerate learning and exchange of knowledge and enhance succession planning and development of next-generation talent.

Available Information:

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Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.

What changed 10-K

Item 1. Business