2 8 I5 Arial5! Arial5" Arial5# Arial5$ Arial5% Arial Unicode MS5& Arial Unicode MS5'  Arial5(  Arial5) Arial5* Arial5+Arial !!""            !!!"!#!$!%%&  '& (% ) *%+%,& -% . /'0'1( 2' 3'4)5)6* 7) 8)9):);*<*=)>)?* @@ @@ @@ @ @  @ @  @ @   @@ @ @ @ @ @  @ @ @  @  @  @  @  @ @ @  @ @ @  @@  @  @  @@  @ @ @  @  @ @ ! @ " @ #@ @ $ @ %@ @ & @@ ' @@ ( @ ) @@ * @@ + @@ , @ - @ . @ / @@ 0 @@ 1 @ 2 @@ 3 @ 4@ @ 5 @ 6@ @ 7 @ 8@ @ 9@@ : @@ <@@ =@@ >@@ ?@@ @@@ B@ @  C@ @  D@ @  F @ H @@ I @ J @@ K @ L@ @ M @@ N @ Q @ R @ S@ @ U @ W @ X@ @ Z @ [@ @ ] @@ ^ @ _@ @ a @ b@ @ c@@ d @@ f@@ g@@ h@@ i@@ j@@ l@ @  m@ @  n@ @  o@ @  p @@ q @ r @@ s @@ t @ u @ v @@ w @ x @ y @ z @ { @ | @ }@ @ ~ @ @@ @ @ @ @ @ @@ @ @ @ @ @ @ @ @ @ @ @ @ @ @ @ @ @ @ @ @ @@ @@ q@' q@' q@'q0*:'ALLEGHENY TECHNOLOGIES INCORPORATED AND SUBSIDIARIES!'CONSOLIDATED BALANCE SHEETS7'(In millions, except share and per share amounts)^March 31,^December 31, ^2002 ^2001^(Unaudited)^(Audited) 'ASSETS 'Cash and cash equivalents "$ 30.5 "$ 33.7 'Accounts receivable, net "291.2 "274.6 'Inventories, net "461.2 "508.4 'Income tax refunds "5.3 "48.5 'Deferred income taxes "40.2 "33.5/'Prepaid expenses and other current assets "29.1 "27.4'Total Current Assets "857.5 "926.1('Property, plant and equipment, net "821.5 "828.9'Prepaid pension cost "636.0 "632.9+'Cost in excess of net assets acquired "188.5 "188.4'Other assets "64.1 "66.9'TOTAL ASSETS"$ 2,567.6"$ 2,643.2*'LIABILITIES AND STOCKHOLDERS' EQUITY'Accounts payable"$ 155.0"$ 155.3'Accrued liabilities "167.3 "168.2)'Short-term debt and current portion'of long-term debt "16.4 "9.2'Total Current Liabilities "338.7 "332.7'Long-term debt "509.0 "573.0% 'Accrued postretirement benefits "505.5 "506.1!'Deferred income taxes !"166.9 !"153.7 "'Other ""117.6 ""133.0$'TOTAL LIABILITIES $"1,637.7 $"1,698.5&'STOCKHOLDERS' EQUITY:3''Preferred stock, par value $0.10: authorized-$('50,000,000 shares; issued-none("--("--;)'Common stock, par value $0.10, authorized-500,000,000O*'shares; issued-98,951,490 shares at March 31, 2002 and December 31, 2001;K+'outstanding-80,568,079 shares at March 31, 2002 and 80,314,624 shares,'at December 31, 2001 ,"9.9 ,"9.9 -'Additional paid-in capital -"481.2 -"481.2.'Retained earnings ."927.7 ."957.5*/'Treasury stock: 18,383,411 shares at*0'March 31, 2002 and 18,636,866 shares1'at December 31, 2001 1"(471.4) 1"(478.2)%2'Accumulated other comprehensive3'loss, net of tax 3"(17.5) 3"(25.7) 5'Total Stockholders' Equity 5"929.9 5"944.707'TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY7"$ 2,567.67"$ 2,643.2F:'The accompanying notes are an integral part of these statements.:<'ALLEGHENY TECHNOLOGIES INCORPORATED AND SUBSIDIARIES+='CONSOLIDATED STATEMENTS OF OPERATIONS,>'(In millions except per share amounts)@'(Unaudited)B^Three Months EndedB^Three Months EndedC^March 31,C^March 31, D^2002 D^2001 F'SalesF"$ 493.1F"$ 542.5H'Costs and expenses:I'Cost of sales I"452.7 I"476.9 J'Selling and administrativeK'expenses K"50.5 K"48.4$M'Income (loss) before interest,#N'other income and income taxes N"(10.1) N"17.2Q'Interest expense, net Q"9.9 Q"8.0R'Other income R"2.0 R"1.2'U'Income (loss) before income taxes U"(18.0) U"10.4$W'Income tax provision (benefit) W"(6.9) W"4.0Z'Net income (loss)Z"$ (11.1)Z"$ 6.4"]'Basic and diluted net income^'(loss) per common share^"$ (0.14)^"$ 0.08)a'Dividends declared per common sharea"$ 0.20a"$ 0.20Fd'The accompanying notes are an integral part of these statements.:f'ALLEGHENY TECHNOLOGIES INCORPORATED AND SUBSIDIARIES+g'CONSOLIDATED STATEMENTS OF CASH FLOWSh'(In millions)j'(Unaudited)l^Three Months Endedl^Three Months Endedm^March 31,m^March 31, n^2002 n^2001p'OPERATING ACTIVITIES:q'Net income (loss)q"$ (11.1) q"$ 6.45r'Adjustments to reconcile net income to net cash's'provided by operating activities:#t'Depreciation and amortization t"22.8 t"24.8u'Deferred income taxes u"1.8 u"(7.6)1v'Change in operating assets and liabilities:w'Inventories w"47.1 w"8.1x'Accrued income taxes x"43.2x"--y'Accounts receivable y"(16.4) y"7.6z'Prepaid pension cost z"(3.1) z"(23.9){'Accounts payable {"0.2 {"28.4#|'Accrued liabilities and other |"(2.6) |"(16.8)+~'CASH PROVIDED BY OPERATING ACTIVITIES ~"81.9 ~"27.0'INVESTING ACTIVITIES:0'Purchases of property, plant and equipment "(15.4) "(24.7) 'Other "2.7 "0.1''CASH USED IN INVESTING ACTIVITIES "(12.7) "(24.6)'FINANCING ACTIVITIES:9'Net borrowings (repayments) under credit facilities "(50.4) "9.6"'Borrowings on long-term debt"-- "4.53'Payments on long-term debt and capital leases "(5.9) "(0.2)%'Net increase (decrease) in debt "(56.3) "13.9'Dividends paid "(16.1) "(16.0)'Purchases of common stock"-- "(3.0)''CASH USED IN FINANCING ACTIVITIES "(72.4) "(5.1)+'DECREASE IN CASH AND CASH EQUIVALENTS "(3.2) "(2.7)8'CASH AND CASH EQUIVALENTS AT BEGINNING OF THE YEAR "33.7 "26.24'CASH AND CASH EQUIVALENTS AT END OF THE PERIOD "$ 30.5 "$ 23.5F'The accompanying notes are an integral part of these statements. 6Sheet1 6Sheet2 6Sheet3d_ ArialArial    O4!*d"""dFM3FM3 PropertyWK3WK3 Property  , 6+, ,6+, ,CMHdr,