A apparatus for forming splines in a first portion (22) of a shaft (13) of a workpiece (12) and a thread in a second portion (24) of the shaft (13) which has a smaller cross sectional diameter than the first portion (22), the apparatus including supports (26, 28) for rotatably supporting the shaft (13) about the longitudinal axis A thereof and a pair of forming assemblies (36, 36' 38, 38') mounted for movement with the workpiece (12) therebetween. The apparatus (10) is characterized by the forming assemblies (36, 36', 38, 38') including oppositely opposed dies for simultaneously forming the splines in the first portion (22) of the shaft (13) having the larger cross sectional diameter and threads in the second portion (24) having the smaller cross sectional diameter in a single pass of the dies over the shaft (13). A method for forming the splines and threads includes the steps for supporting the shaft (13) for rotation about the center longitudinal axis A thereof between a pair of forming assemblies (36, 36', 38, 38') mounted for movement with the shaft (13) therebetween and moving the forming assemblies (36, 36', 38, 38') to form splines in the first portion (22) of the shaft (13) while simultaneously forming a thread in a second portion (24) of the shaft (13).