UNITED STATES
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): April 27, 2018

BARNES GROUP INC.
(Exact name of registrant as specified in its charter)

Delaware
(State or other jurisdiction of incorporation)

	

1-04801	 	06-0247840	
(Commission File Number)	 	(I.R.S. Employer Identification No.)	
 	 	 	
123 Main Street, Bristol, Connecticut	 	06010	
(Address of principal executive offices)	 	(Zip Code)	

(860) 583-7070
Registrant's telephone number, including area code

Not Applicable
(Former name or former address, if changed since last report)

	
	
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:	

		
¨	Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)	
¨	Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)	
¨	Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))	
¨	Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))	

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ¨     

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ¨

1

	
			
Item 2.02	 	Results of Operations and Financial Condition.

In March 2017, the Financial Accounting Standards Board amended its guidance related to the presentation of pension and other postretirement benefit costs. The amended guidance requires the bifurcation of net periodic benefit cost for pension and other postretirement plans. The service cost component of expense will be presented with other employee compensation costs in operating income, consistent with the current guidance. The other components of expense, however, will be reported separately outside of operating income. The guidance is effective for annual periods beginning after December 15, 2017 and interim periods within that reporting period. The Company will adopt the amended guidance during the first quarter of 2018. The amended guidance will be applied retrospectively for the presentation of the service cost component and the other components of net periodic benefit cost in the Consolidated Statements of Income. The Company is today releasing and posting on its website, www.BGInc.com, supplemental information to previously issued historical Consolidated Statements of Income and Segment Information, as set forth in Exhibit 99.1 attached hereto, to reflect the impact of the adoption of this amended guidance. The retrospective adjustments had no effect on the Company's previously reported net income, financial condition or cash flows.

The information in this Current Report on 8-K and the exhibit attached hereto shall not be deemed to be “filed” for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended, nor shall it be deemed incorporated by reference in any filing under the Exchange Act or Securities Act of 1933, as amended, except as expressly set forth by specific reference in such filing.	
 	 	 	
Item 9.01	 	Financial Statements and Exhibits.

Exhibit 99.1: Financial Supplement dated April 27, 2018.	

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.	

	
			
Dated:  April 27, 2018	BARNES GROUP INC.	
 	(Registrant)	
 	 	 	
 	By:	/s/ CHRISTOPHER J. STEPHENS, JR.	
 	 	     Christopher J. Stephens, Jr.
     Senior Vice President, Finance and
     Chief Financial Officer	

EXHIBIT INDEX

			
Exhibit No.	 	Document Description    	
99.1	 	Financial Supplement dated April 27, 2018.	

2

Exhibit 99.1

Financial Supplement

2014, 2015 and 2016 (Full Years)
2017 (Quarters and Full Year)

Financial Results Adjusted for the Reclassification of Pension and Other Postretirement Benefit Costs

(Unaudited)

April 27, 2018

Barnes Group Inc.
Financial Supplement
2014, 2015 and 2016 (Full Years) and 2017 (Quarters and Full Year) Financial Results Adjusted for the Reclassification of Pension and Other Postretirement Benefit Costs

In March 2017, the Financial Accounting Standards Board amended its guidance related to the presentation of pension and other postretirement benefit costs. The amended guidance requires the bifurcation of net periodic benefit cost for pension and other postretirement plans. The service cost component of expense will be presented with other employee compensation costs in operating income, consistent with the current guidance. The other components of expense, however, will be reported separately outside of operating income. The guidance is effective for annual periods beginning after December 15, 2017 and interim periods within that reporting period. The Company will adopt the amended guidance during the first quarter of 2018. The amended guidance will be applied retrospectively for the presentation of the service cost component and the other components of net periodic benefit cost in the Consolidated Statements of Income.

The attached schedules detail the retrospective adjustments of the 2014, 2015 and 2016 financial results and segment information on a full year basis as well as the 2017 financial results and segment information on a quarterly and full year basis. In addition, Non-GAAP financial measures previously provided for the those periods have been adjusted herein and presented together with revised reconciliations to GAAP measures as retrospectively adjusted. The retrospective adjustments had no effect on the Company's previously reported net income, financial condition or cash flows.

	

This document is supplemental to related information previously included in (i) the Company’s financial statements set forth in its annual and quarterly periodic reports filed by the Company with the Securities and Exchange Commission ("SEC") for periods commencing and subsequent to January 1, 2014 and (ii) prior earnings releases issued for periods commencing and subsequent to January 1, 2014 (and which were included in the Company’s Current Reports on Form 8-K); and, accordingly, should be read in conjunction with the Company’s 2014, 2015, 2016 and 2017 Forms 10-K and the 2017 Forms 10-Q filed with the SEC.

	
																																					
Barnes Group Inc. Financial Results Adjusted for the Reclassification of Pension and Other Postretirement Benefit Costs	
Unaudited	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Dollars in thousands	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
 	 	2014	 	2015	 	2016	
Income Statement	As Reported	 	Adjustments	 	As Adjusted (1)	 	As Reported	 	Adjustments	 	As Adjusted (1)	 	As Reported	 	Adjustments	 	As Adjusted (1)	
Net sales	$	1,262,006		 	$	—		 	$	1,262,006		 	$	1,193,975		 	$	—		 	$	1,193,975		 	$	1,230,754		 	$	—		 	$	1,230,754		
Cost of sales	829,648		 	(1,102	)	 	828,546		 	782,817		 	(10,787	)	 	772,030		 	790,299		 	(1,572	)	 	788,727		
Selling and administrative expenses	252,384		 	(91	)	 	252,293		 	242,762		 	(4,359	)	 	238,403		 	248,277		 	(546	)	 	247,731		
 	 	1,082,032		 	(1,193	)	 	1,080,839		 	1,025,579		 	(15,146	)	 	1,010,433		 	1,038,576		 	(2,118	)	 	1,036,458		
Operating income	179,974		 	1,193		 	181,167		 	168,396		 	15,146		 	183,542		 	192,178		 	2,118		 	194,296		
Operating margin	14.3	%	 	 	 	14.4	%	 	14.1	%	 	 	 	15.4	%	 	15.6	%	 	 	 	15.8	%	
Interest expense	11,392		 	—		 	11,392		 	10,698		 	—		 	10,698		 	11,883		 	—		 	11,883		
Other expense (income), net	2,082		 	1,193		 	3,275		 	(248	)	 	15,146		 	14,898		 	(2,326	)	 	2,118		 	(208	)	
Income from continuing operations before income taxes	166,500		 	—		 	166,500		 	157,946		 	—		 	157,946		 	182,621		 	—		 	182,621		
Income taxes	45,959		 	—		 	45,959		 	36,566		 	—		 	36,566		 	47,020		 	—		 	47,020		
Income from continuing operations	120,541		 	—		 	120,541		 	121,380		 	—		 	121,380		 	135,601		 	—		 	135,601		
Income (loss) from discontinued operations, net of income taxes	(2,171	)	 	—		 	(2,171	)	 	—		 	—		 	—		 	—		 	—		 	—		
Net income	$	118,370		 	$	—		 	$	118,370		 	$	121,380		 	$	—		 	$	121,380		 	$	135,601		 	$	—		 	$	135,601		

Non-GAAP Financial Measure Reconciliation	As Presented	 	Adjustments	 	As Adjusted (1)	 	As Presented	 	Adjustments	 	As Adjusted (1)	 	As Presented	 	Adjustments	 	As Adjusted (1)	
Operating Income (GAAP)	$	179,974		 	$	1,193		 	$	181,167		 	$	168,396		 	$	15,146		 	$	183,542		 	$	192,178		 	$	2,118		 	$	194,296		
Männer short-term purchase accounting adjustments	8,504		 	—		 	8,504		 	1,481		 	—		 	1,481		 	—		 	—		 	—		
Thermoplay short-term purchase accounting adjustments	—		 	—		 	—		 	1,167		 	—		 	1,167		 	—		 	—		 	—		
FOBOHA short-term purchase accounting adjustments	—		 	—		 	—		 	—		 	—		 	—		 	2,316		 	—		 	2,316		
Acquisition transaction costs	—		 	—		 	—		 	970		 	—		 	970		 	1,164		 	—		 	1,164		
Restructuring/reduction in force	6,020		 	—		 	6,020		 	4,222		 	—		 	4,222		 	—		 	—		 	—		
Contract termination dispute charges	—		 	—		 	—		 	2,788		 	—		 	2,788		 	3,005		 	—		 	3,005		
Contract termination arbitration award	—		 	—		 	—		 	—		 	—		 	—		 	(1,371	)	 	—		 	(1,371	)	
Pension lump-sum settlement charge	—		 	—		 	—		 	9,856		 	(9,856	)	 	—		 	—		 	—		 	—		
Operating Income as adjusted (Non-GAAP) (2)	$	194,498		 	$	1,193		 	$	195,691		 	$	188,880		 	$	5,290		 	$	194,170		 	$	197,292		 	$	2,118		 	$	199,410		
Operating Margin (GAAP)	14.3	%	 	 	 	14.4	%	 	14.1	%	 	 	 	15.4	%	 	15.6	%	 	 	 	15.8	%	
Operating Margin as adjusted (Non-GAAP) (2)	15.4	%	 	 	 	15.5	%	 	15.8	%	 	 	 	16.3	%	 	16.0	%	 	 	 	16.2	%	
 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Notes:	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
(1) Represents "As Reported" or "As Presented" financial information adjusted on a retrospective basis to reflect the impact of the reclassification of pension and other postretirement benefit costs.	
 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
(2) The Company has excluded the following from its "as adjusted Non-GAAP" financial measurements:	
 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
2014:  1) short-term purchase accounting adjustments related to its Männer acquisition and 2) restructuring charges related to the closure of production operations at its Associated Spring facility located in Saline, Michigan.	
 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
2015: 1) short-term purchase accounting adjustments related to its Männer acquisition, 2) short-term purchase accounting adjustments related to its Thermoplay acquisition, 3) transaction costs related to its Thermoplay and Priamus acquisitions, 4) restructuring and workforce reduction charges and 5) certain charges recorded in the Aerospace segment in the third quarter of 2015 related to a contract termination dispute following a customer sourcing decision.	
 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
2016:   1) short-term purchase accounting adjustments related to its FOBOHA acquisition, 2) transaction costs related to its FOBOHA acquisition, 3) charges related to the contract termination dispute and 4) operating income related to the contract termination arbitration award.	
 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Management believes that these adjustments provide the Company and its investors with an indication of our baseline performance excluding items that are not considered to be reflective of our ongoing results. Management does not intend results excluding the adjustments to represent results as defined by GAAP, and the reader should not consider it as an alternative measurement calculated in accordance with GAAP, or as an indicator of the Company's performance. Accordingly, the measurements have limitations depending on their use.	

	
																																								
Barnes Group Inc. Financial Results Adjusted for the Reclassification of Pension and Other Postretirement Benefit Costs	
Unaudited	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Dollars in thousands	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
 	2014	 	2015	 	2016	
Segment Information	As Reported	 	Adjustments	 	 	As Adjusted (1)	 	As Reported	 	Adjustments	 	 	As Adjusted (1)	 	As Reported	 	Adjustments	 	 	As Adjusted (1)	
Net sales	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Industrial	$	822,051		 	$	—		 	 	$	822,051		 	$	782,273		 	$	—		 	 	$	782,273		 	$	824,216		 	$	—		 	 	$	824,216		
Aerospace	439,959		 	—		 	 	439,959		 	411,709		 	—		 	 	411,709		 	406,541		 	—		 	 	406,541		
Intersegment sales	(4	)	 	—		 	 	(4	)	 	(7	)	 	—		 	 	(7	)	 	(3	)	 	—		 	 	(3	)	
Total net sales	$	1,262,006		 	$	—		 	 	$	1,262,006		 	$	1,193,975		 	$	—		 	 	$	1,193,975		 	$	1,230,754		 	$	—		 	 	$	1,230,754		
 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Operating profit	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Industrial	$	108,360		 	1,204		 	 	$	109,564		 	$	102,950		 	12,149		 	 	$	115,099		 	$	129,677		 	2,122		 	 	$	131,799		
Aerospace	71,614		 	(11	)	 	 	71,603		 	65,446		 	2,997		 	 	68,443		 	62,501		 	(4	)	 	 	62,497		
Total operating profit	$	179,974		 	$	1,193		 	 	$	181,167		 	$	168,396		 	$	15,146		 	 	$	183,542		 	$	192,178		 	$	2,118		 	 	$	194,296		
 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Operating margin	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Industrial	13.2	%	 	10		bps	 	13.3	%	 	13.2	%	 	150		bps	 	14.7	%	 	15.7	%	 	30		bps	 	16.0	%	
Aerospace	16.3	%	 	—		bps	 	16.3	%	 	15.9	%	 	70		bps	 	16.6	%	 	15.4	%	 	—		bps	 	15.4	%	
Total operating margin	14.3	%	 	10		bps	 	14.4	%	 	14.1	%	 	130		bps	 	15.4	%	 	15.6	%	 	20		bps	 	15.8	%	
 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Non-GAAP Financial Measure Reconciliation	As Presented	 	Adjustments	 	 	As Adjusted (1)	 	As Presented	 	Adjustments	 	 	As Adjusted (1)	 	As Presented	 	Adjustments	 	 	As Adjusted (1)	
Operating Profit - Industrial Segment (GAAP)	$	108,360		 	$	1,204		 	 	$	109,564		 	$	102,950		 	$	12,149		 	 	$	115,099		 	$	129,677		 	$	2,122		 	 	$	131,799		
Männer short-term purchase accounting adjustments	8,504		 	—		 	 	8,504		 	1,481		 	—		 	 	1,481		 	—		 	—		 	 	—		
Thermoplay short-term purchase accounting adjustments	—		 	—		 	 	—		 	1,167		 	—		 	 	1,167		 	—		 	—		 	 	—		
FOBOHA short-term purchase accounting adjustments	—		 	—		 	 	—		 	—		 	—		 	 	—		 	2,316		 	—		 	 	2,316		
Acquisition transaction costs	—		 	—		 	 	—		 	970		 	—		 	 	970		 	1,164		 	—		 	 	1,164		
Restructuring/reduction in force	6,020		 	—		 	 	6,020		 	3,448		 	—		 	 	3,448		 	—		 	—		 	 	—		
Pension lump-sum settlement charge	—		 	—		 	 	—		 	7,450		 	(7,450	)	 	 	—		 	—		 	—		 	 	—		
Operating Profit - Industrial Segment as adjusted (Non-GAAP) (2)	$	122,884		 	$	1,204		 	 	$	124,088		 	$	117,466		 	$	4,699		 	 	$	122,165		 	$	133,157		 	$	2,122		 	 	$	135,279		
Operating Margin - Industrial Segment (GAAP)	13.2	%	 	 	 	 	13.3	%	 	13.2	%	 	 	 	 	14.7	%	 	15.7	%	 	 	 	 	16.0	%	
Operating Margin - Industrial Segment as adjusted (Non-GAAP) (2)	14.9	%	 	 	 	 	15.1	%	 	15.0	%	 	 	 	 	15.6	%	 	16.2	%	 	 	 	 	16.4	%	
Operating Profit - Aerospace Segment (GAAP)	$	71,614		 	$	(11	)	 	 	$	71,603		 	$	65,446		 	$	2,997		 	 	$	68,443		 	$	62,501		 	$	(4	)	 	 	$	62,497		
Restructuring/reduction in force	—		 	—		 	 	—		 	774		 	—		 	 	774		 	—		 	—		 	 	—		
Contract termination dispute charges	—		 	—		 	 	—		 	2,788		 	—		 	 	2,788		 	3,005		 	—		 	 	3,005		
Contract termination arbitration award	—		 	—		 	 	—		 	—		 	—		 	 	—		 	(1,371	)	 	—		 	 	(1,371	)	
Pension lump-sum settlement charge	—		 	—		 	 	—		 	2,405		 	(2,405	)	 	 	—		 	—		 	—		 	 	—		
Operating Profit - Aerospace Segment as adjusted (Non-GAAP) (2)	$	71,614		 	$	(11	)	 	 	$	71,603		 	$	71,413		 	$	592		 	 	$	72,005		 	$	64,135		 	$	(4	)	 	 	$	64,131		
Operating Margin - Aerospace Segment (GAAP)	16.3	%	 	 	 	 	16.3	%	 	15.9	%	 	 	 	 	16.6	%	 	15.4	%	 	 	 	 	15.4	%	
Operating Margin - Aerospace Segment as adjusted (Non-GAAP) (2)	16.3	%	 	 	 	 	16.3	%	 	17.3	%	 	 	 	 	17.5	%	 	15.8	%	 	 	 	 	15.8	%	
 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Notes:	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
(1) Represents "As Reported" or "As Presented" financial information adjusted on a retrospective basis to reflect the impact of the reclassification of pension and other postretirement benefit costs.	
 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
(2) The Company has excluded the following from its "as adjusted Non-GAAP" financial measurements:	
 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
2014:   1) short-term purchase accounting adjustments related to its Männer acquisition and 2) restructuring charges related to the closure of production operations at its Associated Spring facility located in Saline, Michigan.	
 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
2015:  1) short-term purchase accounting adjustments related to its Männer acquisition, 2) short-term purchase accounting adjustments related to its Thermoplay acquisition, 3) transaction costs related to its Thermoplay and Priamus acquisitions, 4) restructuring and workforce reduction charges and 5) certain charges recorded in the Aerospace segment in the third quarter of 2015 related to a contract termination dispute following a customer sourcing decision.	
 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
2016:  1) short-term purchase accounting adjustments related to its FOBOHA acquisition, 2) transaction costs related to its FOBOHA acquisition, 3) charges related to the contract termination dispute and 4) operating income related to the contract termination arbitration award.	
 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Management believes that these adjustments provide the Company and its investors with an indication of our baseline performance excluding items that are not considered to be reflective of our ongoing results. Management does not intend results excluding the adjustments to represent results as defined by GAAP, and the reader should not consider it as an alternative measurement calculated in accordance with GAAP, or as an indicator of the Company's performance. Accordingly, the measurements have limitations depending on their use.	

	
																																																													
Barnes Group Inc. Financial Results Adjusted for the Reclassification of Pension and Other Postretirement Benefit Costs	
Unaudited	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Dollars in thousands	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
 	 	Q1 2017	 	Q2 2017	 	Q3 2017	 	Q4 2017	 	2017 Full Year	
Income Statement	As Reported	 	Adjustments	 	As Adjusted (1)	 	As Reported	 	Adjustments	 	As Adjusted (1)	 	As Reported	 	Adjustments	 	As Adjusted (1)	 	As Reported	 	Adjustments	 	As Adjusted (1)	 	As Reported	 	Adjustments	 	As Adjusted (1)	
Net sales	$	341,802		 	$	—		 	$	341,802		 	$	364,493		 	$	—		 	$	364,493		 	$	357,156		 	$	—		 	$	357,156		 	$	373,048		 	$	—		 	$	373,048		 	$	1,436,499		 	$	—		 	$	1,436,499		
Cost of sales	219,833		 	(284	)	 	219,549		 	236,506		 	6,032		 	242,538		 	236,016		 	(610	)	 	235,406		 	246,933		 	(647	)	 	246,286		 	939,288		 	4,491		 	943,779		
Selling and administrative expenses	66,221		 	(246	)	 	65,975		 	70,847		 	349		 	71,196		 	73,354		 	(502	)	 	72,852		 	76,511		 	(265	)	 	76,246		 	286,933		 	(664	)	 	286,269		
 	 	286,054		 	(530	)	 	285,524		 	307,353		 	6,381		 	313,734		 	309,370		 	(1,112	)	 	308,258		 	323,444		 	(912	)	 	322,532		 	1,226,221		 	3,827		 	1,230,048		
Operating income	55,748		 	530		 	56,278		 	57,140		 	(6,381	)	 	50,759		 	47,786		 	1,112		 	48,898		 	49,604		 	912		 	50,516		 	210,278		 	(3,827	)	 	206,451		
Operating margin	16.3	%	 	 	 	16.5	%	 	15.7	%	 	 	 	13.9	%	 	13.4	%	 	 	 	13.7	%	 	13.3	%	 	 	 	13.5	%	 	14.6	%	 	 	 	14.4	%	
Interest expense	3,349		 	—		 	3,349		 	3,541		 	—		 	3,541		 	3,748		 	—		 	3,748		 	3,934		 	—		 	3,934		 	14,571		 	—		 	14,571		
Other expense (income), net	23		 	530		 	553		 	394		 	(6,381	)	 	(5,987	)	 	357		 	1,112		 	1,469		 	(767	)	 	912		 	145		 	8		 	(3,827	)	 	(3,819	)	
Income before income taxes	52,376		 	—		 	52,376		 	53,205		 	—		 	53,205		 	43,681		 	—		 	43,681		 	46,437		 	—		 	46,437		 	195,699		 	—		 	195,699		
Income taxes	14,073		 	—		 	14,073		 	8,178		 	—		 	8,178		 	8,348		 	—		 	8,348		 	105,685		 	—		 	105,685		 	136,284		 	—		 	136,284		
Net income	$	38,303		 	$	—		 	$	38,303		 	$	45,027		 	$	—		 	$	45,027		 	$	35,333		 	$	—		 	$	35,333		 	$	(59,248	)	 	$	—		 	$	(59,248	)	 	$	59,415		 	$	—		 	$	59,415		

Non-GAAP Financial Measure Reconciliation	As Presented	 	Adjustments	 	As Adjusted (1)	 	As Presented	 	Adjustments	 	As Adjusted (1)	 	As Presented	 	Adjustments	 	As Adjusted (1)	 	As Presented	 	Adjustments	 	As Adjusted (1)	 	As Presented	 	Adjustments	 	As Adjusted (1)	
Operating Income (GAAP)	$	55,748		 	$	530		 	$	56,278		 	$	57,140		 	$	(6,381	)	 	$	50,759		 	$	47,786		 	$	1,112		 	$	48,898		 	$	49,604		 	$	912		 	$	50,516		 	$	210,278		 	$	(3,827	)	 	$	206,451		
FOBOHA short-term purchase accounting adjustments	600		 	—		 	600		 	1,193		 	—		 	1,193		 	501		 	—		 	501		 	—		 	—		 	—		 	2,294		 	—		 	2,294		
Restructuring/reduction in force	—		 	—		 	—		 	(1,652	)	 	7,447		 	5,795		 	260		 	—		 	260		 	1,406		 	—		 	1,406		 	13		 	7,447		 	7,460		
Operating Income as adjusted (Non-GAAP) (2)	$	56,348		 	$	530		 	$	56,878		 	$	56,681		 	$	1,066		 	$	57,747		 	$	48,547		 	$	1,112		 	$	49,659		 	$	51,010		 	$	912		 	$	51,922		 	$	212,585		 	$	3,620		 	$	216,205		
Operating Margin (GAAP)	16.3	%	 	 	 	16.5	%	 	15.7	%	 	 	 	13.9	%	 	13.4	%	 	 	 	13.7	%	 	13.3	%	 	 	 	13.5	%	 	14.6	%	 	 	 	14.4	%	
Operating Margin as adjusted (Non-GAAP) (2)	16.5	%	 	 	 	16.6	%	 	15.6	%	 	 	 	15.8	%	 	13.6	%	 	 	 	13.9	%	 	13.7	%	 	 	 	13.9	%	 	14.8	%	 	 	 	15.1	%	
 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Notes:	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
(1) Represents "As Reported" or "As Presented" financial information adjusted on a retrospective basis to reflect the impact of the reclassification of pension and other postretirement benefit costs.	
 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
(2) The Company has excluded the following from its "as adjusted Non-GAAP" financial measurements for 2017: 1) short-term purchase accounting adjustments related to its FOBOHA acquisition and 2) the net (gain) loss from restructuring actions related to the closure and consolidation of two manufacturing facilities within the Industrial segment. Management believes that these adjustments provide the Company and its investors with an indication of our baseline performance excluding items that are not considered to be reflective of our ongoing results. Management does not intend results excluding the adjustments to represent results as defined by GAAP, and the reader should not consider it as an alternative measurement calculated in accordance with GAAP, or as an indicator of the Company's performance. Accordingly, the measurements have limitations depending on their use.	

	
																																																																		
Barnes Group Inc. Financial Results Adjusted for the Reclassification of Pension and Other Postretirement Benefit Costs	
Unaudited	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Dollars in thousands	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
 	Q1 2017	 	Q2 2017	 	Q3 2017	 	Q4 2017	 	2017 Full Year	
Segment Information	As Reported	 	Adjustments	 	 	As Adjusted (1)	 	As Reported	 	Adjustments	 	 	As Adjusted (1)	 	As Reported	 	Adjustments	 	 	As Adjusted (1)	 	As Reported	 	Adjustments	 	 	As Adjusted (1)	 	As Reported	 	Adjustments	 	 	As Adjusted (1)	
Net sales	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Industrial	$	227,340		 	$	—		 	 	$	227,340		 	$	251,845		 	$	—		 	 	$	251,845		 	$	240,390		 	$	—		 	 	$	240,390		 	$	254,334		 	$	—		 	 	$	254,334		 	$	973,890		 	$	—		 	 	$	973,890		
Aerospace	114,470		 	—		 	 	114,470		 	112,662		 	—		 	 	112,662		 	116,767		 	—		 	 	116,767		 	118,718		 	—		 	 	118,718		 	462,617		 	—		 	 	462,617		
Intersegment sales	(8	)	 	—		 	 	(8	)	 	(14	)	 	—		 	 	(14	)	 	(1	)	 	—		 	 	(1	)	 	(4	)	 	—		 	 	(4	)	 	(8	)	 	—		 	 	(8	)	
Total net sales	$	341,802		 	$	—		 	 	$	341,802		 	$	364,493		 	$	—		 	 	$	364,493		 	$	357,156		 	$	—		 	 	$	357,156		 	$	373,048		 	$	—		 	 	$	373,048		 	$	1,436,499		 	$	—		 	 	$	1,436,499		
 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Operating profit	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Industrial	$	33,456		 	$	447		 	 	$	33,903		 	$	37,395		 	$	(6,512	)	 	 	$	30,883		 	$	29,308		 	$	1,028		 	 	$	30,336		 	$	26,899		 	$	830		 	 	$	27,729		 	$	127,056		 	$	(4,207	)	 	 	$	122,849		
Aerospace	22,292		 	83		 	 	22,375		 	19,745		 	131		 	 	19,876		 	18,478		 	84		 	 	18,562		 	22,705		 	82		 	 	22,787		 	83,222		 	380		 	 	83,602		
Total operating profit	$	55,748		 	$	530		 	 	$	56,278		 	$	57,140		 	$	(6,381	)	 	 	$	50,759		 	$	47,786		 	$	1,112		 	 	$	48,898		 	$	49,604		 	$	912		 	 	$	50,516		 	$	210,278		 	$	(3,827	)	 	 	$	206,451		
 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Operating margin	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Industrial	14.7	%	 	20		bps	 	14.9	%	 	14.8	%	 	(250	)	bps	 	12.3	%	 	12.2	%	 	40		bps	 	12.6	%	 	10.6	%	 	30		bps	 	10.9	%	 	13.0	%	 	(40	)	bps	 	12.6	%	
Aerospace	19.5	%	 	—		bps	 	19.5	%	 	17.5	%	 	10		bps	 	17.6	%	 	15.8	%	 	10		bps	 	15.9	%	 	19.1	%	 	10		bps	 	19.2	%	 	18.0	%	 	10		bps	 	18.1	%	
Total operating margin	16.3	%	 	20		bps	 	16.5	%	 	15.7	%	 	(180	)	bps	 	13.9	%	 	13.4	%	 	30		bps	 	13.7	%	 	13.3	%	 	20		bps	 	13.5	%	 	14.6	%	 	(20	)	bps	 	14.4	%	
 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Non-GAAP Financial Measure Reconciliation	As Presented	 	Adjustments	 	 	As Adjusted (1)	 	As Presented	 	Adjustments	 	 	As Adjusted (1)	 	As Presented	 	Adjustments	 	 	As Adjusted (1)	 	As Presented	 	Adjustments	 	 	As Adjusted (1)	 	As Presented	 	Adjustments	 	 	As Adjusted (1)	
Operating Profit - Industrial Segment (GAAP)	$	33,456		 	$	447		 	 	$	33,903		 	$	37,395		 	$	(6,512	)	 	 	$	30,883		 	$	29,308		 	$	1,028		 	 	$	30,336		 	$	26,899		 	$	830		 	 	$	27,729		 	$	127,056		 	$	(4,207	)	 	 	$	122,849		
FOBOHA short-term purchase accounting adjustments	600		 	—		 	 	600		 	1,193		 	—		 	 	1,193		 	501		 	—		 	 	501		 	—		 	—		 	 	—		 	2,294		 	—		 	 	2,294		
Restructuring/reduction in force	—		 	—		 	 	—		 	(1,652	)	 	7,447		 	 	5,795		 	260		 	—		 	 	260		 	1,406		 	—		 	 	1,406		 	13		 	7,447		 	 	7,460		
Operating Profit - Industrial Segment as adjusted (Non-GAAP) (2)	$	34,056		 	$	447		 	 	$	34,503		 	$	36,936		 	$	935		 	 	$	37,871		 	$	30,069		 	$	1,028		 	 	$	31,097		 	$	28,305		 	$	830		 	 	$	29,135		 	$	129,363		 	$	3,240		 	 	$	132,603		
Operating Margin - Industrial Segment (GAAP)	14.7	%	 	 	 	 	14.9	%	 	14.8	%	 	 	 	 	12.3	%	 	12.2	%	 	 	 	 	12.6	%	 	10.6	%	 	 	 	 	10.9	%	 	13.0	%	 	 	 	 	12.6	%	
Operating Margin - Industrial Segment as adjusted (Non-GAAP) (2)	15.0	%	 	 	 	 	15.2	%	 	14.7	%	 	 	 	 	15.0	%	 	12.5	%	 	 	 	 	12.9	%	 	11.1	%	 	 	 	 	11.5	%	 	13.3	%	 	 	 	 	13.6	%	
 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Notes:	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
(1) Represents "As Reported" or "As Presented" financial information adjusted on a retrospective basis to reflect the impact of the reclassification of pension and other postretirement benefit costs.	
 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
(2) The Company has excluded the following from its "as adjusted Non-GAAP" financial measurements for 2017: 1) short-term purchase accounting adjustments related to its FOBOHA acquisition and 2) the net (gain) loss from restructuring actions related to the closure and consolidation of two manufacturing facilities within the Industrial segment. Management believes that these adjustments provide the Company and its investors with an indication of our baseline performance excluding items that are not considered to be reflective of our ongoing results. Management does not intend results excluding the adjustments to represent results as defined by GAAP, and the reader should not consider it as an alternative measurement calculated in accordance with GAAP, or as an indicator of the Company's performance. Accordingly, the measurements have limitations depending on their use.