A machining tool can be subject to different kinds of excitations. The forcing may have external sources (such as rotating imbalance, misalignment of the workpiece or ultrasonic excitation), or it can arise from the cutting process itself (e.g., periodic chip formation). We investigate the classical one-degreeof-freedom tool vibration model, a delay-differential equation with quadratic and cubic nonlinearity, and periodic forcing. The method of multiple scales is used to derive the slow flow equations. Stability and bifurcation analysis of equilibria of the slow flow equations is presented. Analytical expressions are obtained for the saddle-node and Hopf bifurcation points. Bifurcation analysis is also carried out numerically. Sub-and supercritical Hopf, cusp, fold, generalized Hopf (Bautin), Bogdanov-Takens bifurcations are found. Limit cycle continuation is performed using MatCont. Local and global bifurcations are studied and illustrated with phase portraits and direct numerical integration of the original equation.