ATI Inc. Updates Corporate Address in Routine 8-K Filing

TL;DR

**ATI Inc. filed a routine 8-K to update its corporate address; no major news here.**

AI Summary

ATI Inc. filed an 8-K on January 19, 2024, primarily to update its corporate address to 2021 McKinney Avenue, Dallas, Texas 75201. This administrative filing also confirms its trading symbol as 'ATI' on the New York Stock Exchange. For investors, this filing is largely procedural, indicating no material operational or financial changes, but rather a simple update to corporate contact information.

Why It Matters

This filing is largely administrative, updating ATI Inc.'s corporate address. It does not signal any material operational or financial changes that would directly impact the stock's value.

Risk Assessment

Risk Level: low — The filing is purely administrative, updating contact information, and presents no new financial or operational risks.

Analyst Insight

A smart investor would recognize this as a routine administrative update with no immediate financial implications, requiring no specific action regarding their investment in ATI Inc.

Key Numbers

• $0.10 — par value per share (par value of ATI Inc.'s Common Stock)

Key Players & Entities

• ATI Inc. (company) — the registrant filing the 8-K
• 2021 McKinney Avenue, Dallas, Texas 75201 (address) — new principal executive offices address
• ATI (company) — trading symbol on the New York Stock Exchange
• New York Stock Exchange (company) — exchange where ATI's common stock is registered

FAQ

Key Financial Figures

• $0.10 — ich registered Common Stock, par value $0.10 per share ATI New York Stock Exchange
• $0.57 — Adjusted Q4 2023 EPS guidance range of $0.57 - $0.67 previously presented on page 7
• $0.67 — d Q4 2023 EPS guidance range of $0.57 - $0.67 previously presented on page 7 of the Q
• $1.63 — r-to-date September 2023 increases from $1.63 to $1.92. Accordingly, the full year 20
• $1.92 — September 2023 increases from $1.63 to $1.92. Accordingly, the full year 2023 Adjust
• $2.20 — usted EPS range estimate increases from $2.20 - $2.30 to $2.49 to $2.59, with the new
• $2.30 — S range estimate increases from $2.20 - $2.30 to $2.49 to $2.59, with the new midpoin
• $2.49 — stimate increases from $2.20 - $2.30 to $2.49 to $2.59, with the new midpoint of the
• $2 — ncreases from $2.20 - $2.30 to $2.49 to $2.59, with the new midpoint of the range
• $2.54 — , with the new midpoint of the range at $2.54. This revised range incorporates no add
• $0.29 — justed Earnings Per Share $2.20 - $2.30 $0.29 $2.49 - $2.59 Item 8.01. Other Events
• $2.59 — s Per Share $2.20 - $2.30 $0.29 $2.49 - $2.59 Item 8.01. Other Events. During the
• $1.07 billion — effect decrease to retained earnings of $1.07 billion with a corresponding offset to accumula

Filing Documents

• ati-20240119.htm (8-K) — 44KB
• q4formpensionrestatementex.htm (EX-99.1) — 980KB
• 0001628280-24-001748.txt ( ) — 1189KB
• ati-20240119.xsd (EX-101.SCH) — 2KB
• ati-20240119_lab.xml (EX-101.LAB) — 24KB
• ati-20240119_pre.xml (EX-101.PRE) — 12KB
• ati-20240119_htm.xml (XML) — 3KB

01. Other Events

Item 8.01. Other Events. During the fourth quarter of 2023, the Company voluntarily changed the method of accounting for recognizing actuarial gains and losses for its defined benefit pension plans. Under the accounting method change, remeasurement of the projected benefit obligation and plan assets for defined benefit pension plans are immediately recognized in earnings through net periodic pension benefit cost within nonoperating retirement benefit expense on the consolidated statements of operations, with pension plans to be remeasured annually in the fourth quarter or on an interim basis as triggering events require remeasurement. Prior to this accounting method change, the Company deferred the recognition of these gains and losses in accumulated other comprehensive loss on the consolidated balance sheet. The accumulated actuarial gains/losses were then amortized into net periodic benefit costs within nonoperating retirement benefit expense on the consolidated statement of operations over the average expected remaining life of plan participants. While the historical accounting principle was acceptable, we believe that the current accounting policy is preferable because it provides a better representation of the operating results of the Company and the economic performance of plan assets in relation to the measurement of its benefit obligations for the period. The change in accounting will more clearly reflect the current period impact of the Company's pension asset investment strategy to readers of the financial statements. Beginning with the fourth quarter and fiscal year ended December 31, 2023, the Company's financial information will reflect the impact of the change in accounting principle, with prior periods retrospectively adjusted. As of January 1, 2021, this change resulted in a cumulative effect decrease to retained earnings of $1.07 billion with a corresponding offset to accumulated other comprehensive loss. As a result of the new accounting poli

01. Exhibit

Item 9.01. Exhibit. (d) Exhibit 99.1 Updated Financial I nformatio n (unaudited) . Exhibit 104 Cover Page Interactive Data File (embedded within the Inline XBRL document). SIGNATURE 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. ATI Inc. By: /s/ Donald P. Newman Donald P. Newman Executive Vice President, Finance and Chief Financial Officer Dated: January 19, 2024