Supplemental Guarantor Condensed Consolidating Financial Statements

9 Months Ended

Sep. 30, 2011

Supplemental Guarantor Condensed Consolidating Financial Statements [Abstract]

Schedule of Condensed Financial Statements [Text Block]

SUPPLEMENTAL GUARANTOR CONDENSED CONSOLIDATING FINANCIAL STATEMENTS

Holdings has no significant assets other than its 100% ownership in AAM, Inc. and no direct subsidiaries other than AAM, Inc. Holdings fully and unconditionally guarantees the 5.25% Notes and 7.875% Notes, which are senior unsecured obligations of AAM, Inc. The 2.00% Convertible Notes, which were redeemed in 2011, were senior unsecured obligations of Holdings and were fully and unconditionally guaranteed by AAM, Inc.

The following Condensed Consolidating Financial Statements are included in lieu of providing separate financial statements for Holdings and AAM, Inc. These Condensed Consolidating Financial Statements are prepared under the equity method of accounting whereby the investments in subsidiaries are recorded at cost and adjusted for the parent’s share of the subsidiaries’ cumulative results of operations, capital contributions and distributions, and other equity changes.



Condensed Consolidating Statements of Operations
Three Months Ended September 30,
(in millions)
	Holdings		AAM Inc.			All Others			Elims			Consolidated
2011
Net sales
External	$	—	$	186.8		$	460.8		$	—		$	647.6
Intercompany	—		7.0			51.9			(58.9		)	—
Total net sales	—		193.8			512.7			(58.9		)	647.6
Cost of goods sold			182.4			420.6			(58.9		)	544.1
Gross profit	—		11.4			92.1			—			103.5
Selling, general and administrative expenses	—		48.0			11.0			—			59.0
Operating income (loss)	—		(36.6		)	81.1			—			44.5
Non-operating income (expense), net	—		(21.1		)	1.5			—			(19.6		)
Income (loss) before income taxes	—		(57.7		)	82.6			—			24.9
Income tax expense (benefit)	—		(0.1		)	2.4			—			2.3
Earnings from equity in subsidiaries	24.8		33.3			—			(58.1		)	—
Net income (loss) before royalties and dividends	24.8		(24.3		)	80.2			(58.1		)	22.6
Royalties and dividends	—		49.1			(49.1		)	—			—
Net income after royalties and dividends	24.8		24.8			31.1			(58.1		)	22.6
Net loss attributable to noncontrolling interests	—		—			2.2			—			2.2
Net income attributable to AAM	$	24.8	$	24.8		$	33.3		$	(58.1	)	$	24.8

2010
Net sales
External	$	—	$	191.5		$	426.7		$	—		$	618.2
Intercompany	—		6.4			48.2			(54.6		)	—
Total net sales	—		197.9			474.9			(54.6		)	618.2
Cost of goods sold	—		178.8			380.1			(54.6		)	504.3
Gross profit	—		19.1			94.8			—			113.9
Selling, general and administrative expenses	—		48.6			4.6			—			53.2
Operating income (loss)	—		(29.5		)	90.2			—			60.7
Non-operating income (expense), net	—		(22.0		)	0.8			—			(21.2		)
Income (loss) before income taxes	—		(51.5		)	91.0			—			39.5
Income tax expense (benefit)	—		(1.1		)	1.9			—			0.8
Earnings from equity in subsidiaries	38.8		70.0			—			(108.8		)	—
Net income before royalties and dividends	38.8		19.6			89.1			(108.8		)	38.7
Royalties and dividends	—		19.2			(19.2		)	—			—
Net income after royalties and dividends	38.8		38.8			69.9			(108.8		)	38.7
Net loss attributable to noncontrolling interests	—		—			0.1			—			0.1
Net income attributable to AAM	$	38.8	$	38.8		$	70.0		$	(108.8	)	$	38.8



Condensed Consolidating Statements of Operations
Nine Months Ended September 30,
(in millions)
	Holdings		AAM Inc.			All Others			Elims			Consolidated
2011
Net sales
External	$	—	$	601.8		$	1,377.6		$	—		$	1,979.4
Intercompany	—		19.3			153.8			(173.1		)	—
Total net sales	—		621.1			1,531.4			(173.1		)	1,979.4
Cost of goods sold	—		569.0			1,234.1			(173.1		)	1,630.0
Gross profit	—		52.1			297.3			—			349.4
Selling, general and administrative expenses	—		144.0			30.5			—			174.5
Operating income (loss)	—		(91.9		)	266.8			—			174.9
Non-operating income (expense), net	—		(68.1		)	4.5			—			(63.6		)
Income (loss) before income taxes	—		(160.0		)	271.3			—			111.3
Income tax expense (benefit)	—		(2.1		)	6.3			—			4.2
Earnings from equity in subsidiaries	111.7		121.2			—			(232.9		)	—
Net income (loss) before royalties and dividends	111.7		(36.7		)	265.0			(232.9		)	107.1
Royalties and dividends	—		148.4			(148.4		)	—			—
Net income after royalties and dividends	111.7		111.7			116.6			(232.9		)	107.1
Net loss attributable to noncontrolling interests	—		—			4.6			—			4.6
Net income attributable to AAM	$	111.7	$	111.7		$	121.2		$	(232.9	)	$	111.7

2010
Net sales
External	$	—	$	446.5		$	1,253.2		$	—		$	1,699.7
Intercompany	—		20.8			132.8			(153.6		)	—
Total net sales	—		467.3			1,386.0			(153.6		)	1,699.7
Cost of goods sold	—		441.5			1,111.7			(153.6		)	1,399.6
Gross profit	—		25.8			274.3			—			300.1
Selling, general and administrative expenses	—		135.0			12.0			—			147.0
Operating income (loss)	—		(109.2		)	262.3			—			153.1
Non-operating expense, net	—		(66.5		)	(1.2		)	—			(67.7		)
Income (loss) before income taxes	—		(175.7		)	261.1			—			85.4
Income tax expense (benefit)	—		(0.9		)	6.1			—			5.2
Earnings from equity in subsidiaries	80.5		197.6			—			(278.1		)	—
Net income before royalties and dividends	80.5		22.8			255.0			(278.1		)	80.2
Royalties and dividends	—		57.7			(57.7		)	—			—
Net income after royalties and dividends	80.5		80.5			197.3			(278.1		)	80.2
Net loss attributable to noncontrolling interests	—		—			0.3			—			0.3
Net income attributable to AAM	$	80.5	$	80.5		$	197.6		$	(278.1	)	$	80.5



Condensed Consolidating Balance Sheets (in millions)
	Holdings			AAM Inc.			All Others		Elims			Consolidated
September 30, 2011
Assets
Current assets
Cash and cash equivalents	$	—		$	40.9		$	73.5	$	—		$	114.4
Accounts receivable, net	—			110.5			274.3		—			384.8
Inventories, net	—			43.6			114.1		—			157.7
Prepaid expense and other current assets	—			28.0			55.1		—			83.1
Total current assets	—			223.0			517.0		—			740.0
Property, plant and equipment, net	—			238.7			703.9		—			942.6
Goodwill	—			—			156.0		—			156.0
Other assets and deferred charges	—			299.7			94.5		—			394.2
Investment in subsidiaries	—			985.7			—		(985.7		)	—
Total assets	$	—		$	1,747.1		$	1,471.4	$	(985.7	)	$	2,232.8
Liabilities and stockholders’ equity (deficit)
Current liabilities
Accounts payable	$	—		$	105.3		$	258.3	$	—		$	363.6
Accrued expenses and other current liabilities	—			161.2			89.6		—			250.8
Total current liabilities	—			266.5			347.9		—			614.4
Intercompany payable (receivable)	320.7			(325.5		)	4.8		—			—
Long-term debt	—			998.7			51.9		—			1,050.6
Investment in subsidiaries obligation	59.7			—			—		(59.7		)	—
Other long-term liabilities	—			867.1			74.0		—			941.1
Total liabilities	380.4			1,806.8			478.6		(59.7		)	2,606.1
Total AAM stockholders’ equity (deficit)	(380.4		)	(59.7		)	985.7		(926.0		)	(380.4		)
Noncontrolling interest in subsidiaries	—			—			7.1		—			7.1
Total stockholders’ equity (deficit)	(380.4		)	(59.7		)	992.8		(926.0		)	(373.3		)
Total liabilities and stockholders’ equity (deficit)	$	—		$	1,747.1		$	1,471.4	$	(985.7	)	$	2,232.8

December 31, 2010
Assets
Current assets
Cash and cash equivalents	$	—		$	67.6		$	177.0	$	—		$	244.6
Accounts receivable, net	—			18.4			128.2		—			146.6
Inventories, net	—			34.8			95.5		—			130.3
Other current assets	—			35.6			45.0		—			80.6
Total current assets	—			156.4			445.7		—			602.1
Property, plant and equipment, net	—			259.6			676.7		—			936.3
Goodwill	—			—			155.8		—			155.8
Other assets and deferred charges	—			329.8			90.7		—			420.5
Investment in subsidiaries	—			887.7			—		(887.7		)	—
Total assets	$	—		$	1,633.5		$	1,368.9	$	(887.7	)	$	2,114.7
Liabilities and stockholders’ equity (deficit)
Current liabilities
Accounts payable	$	—		$	76.4		$	207.2	$	—		$	283.6
Accrued expenses and other current liabilities	—			209.9			75.6		—			285.5
Total current liabilities	—			286.3			282.8		—			569.1
Intercompany payable (receivable)	320.1			(395.3		)	75.2		—			—
Long-term debt	0.4			970.2			39.4		—			1,010.0
Investment in subsidiaries obligation	159.0			—			—		(159.0		)	—
Other long-term liabilities	—			931.3			72.4		—			1,003.7
Total liabilities	479.5			1,792.5			469.8		(159.0		)	2,582.8
Total AAM stockholders’ equity (deficit)	(479.5		)	(159.0		)	887.7		(728.7		)	(479.5		)
Noncontrolling interest in subsidiaries	—			—			11.4		—			11.4
Total stockholders’ equity (deficit)	(479.5		)	(159.0		)	899.1		(728.7		)	(468.1		)
Total liabilities and stockholders’ equity (deficit)	$	—		$	1,633.5		$	1,368.9	$	(887.7	)	$	2,114.7



Condensed Consolidating Statements of Cash Flows
Nine Months Ended September 30,
(in millions)
	Holdings			AAM Inc.			All Others			Elims		Consolidated
2011
Operating activities
Net cash provided by (used in) operating activities	$	—		$	(106.1	)	$	40.7		$	—	$	(65.4	)
Investing activities
Purchases of property, plant and equipment	—			(25.9		)	(85.1		)	—		(111.0		)
Proceeds from sale of equipment	—			1.5			6.4			—		7.9
Net cash used in investing activities	—			(24.4		)	(78.7		)	—		(103.1		)
Financing activities
Net debt activity	(42.9		)	70.0			13.5			—		40.6
Intercompany activity	43.0			34.9			(77.9		)	—		—
Debt issuance costs	—			(5.7		)	—			—		(5.7		)
Employee stock option exercises	—			4.6			—			—		4.6
Purchase of treasury stock	(0.1		)	—			—			—		(0.1		)
Net cash provided by (used in) financing activities	—			103.8			(64.4		)	—		39.4
Effect of exchange rate changes on cash	—			—			(1.1		)	—		(1.1		)
Net decrease in cash and cash equivalents	—			(26.7		)	(103.5		)	—		(130.2		)
Cash and cash equivalents at beginning of period	—			67.6			177.0			—		244.6
Cash and cash equivalents at end of period	$	—		$	40.9		$	73.5		$	—	$	114.4

2010
Operating activities
Net cash provided by (used in) operating activities	$	—		$	(84.8	)	$	278.3		$	—	$	193.5
Investing activities
Purchases of property, plant and equipment	—			(20.7		)	(41.0		)	—		(61.7		)
Proceeds from sale of equipment	—			1.1			0.1			—		1.2
Purchase buyouts of leased equipment	—			(7.8		)	—			—		(7.8		)
Redemption of short-term investments	—			1.6			—			—		1.6
Net cash used in investing activities	—			(25.8		)	(40.9		)	—		(66.7		)
Financing activities
Net debt activity	—			(59.4		)	(1.4		)	—		(60.8		)
Intercompany activity	1.3			162.4			(163.7		)	—		—
Debt issuance costs	—			(2.2		)	—			—		(2.2		)
Purchase of treasury stock	(1.3		)	—			—			—		(1.3		)
Net cash provided by (used in) financing activities	—			100.8			(165.1		)	—		(64.3		)
Effect of exchange rate changes on cash	—			—			(0.4		)	—		(0.4		)
Net increase (decrease) in cash and cash equivalents	—			(9.8		)	71.9			—		62.1
Cash and cash equivalents at beginning of period	—			80.6			97.5			—		178.1
Cash and cash equivalents at end of period	$	—		$	70.8		$	169.4		$	—	$	240.2

SUPPLEMENTAL GUARANTOR CONDENSED CONSOLIDATING FINANCIAL STATEMENTS – 9.25% NOTES

Holdings has no significant asset other than its 100% ownership in AAM, Inc. and no direct subsidiaries other than AAM, Inc. The 9.25% Notes are senior secured obligations of AAM, Inc. and are fully and unconditionally guaranteed by Holdings and all domestic subsidiaries of AAM, Inc.

These Condensed Consolidating Financial Statements are prepared under the equity method of accounting whereby the investments in subsidiaries are recorded at cost and adjusted for the parent’s share of the subsidiaries’ cumulative results of operations, capital contributions and distributions, and other equity changes.



Condensed Consolidating Statements of Operations
Three Months Ended September 30,
(in millions)
	Holdings		AAM Inc.			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Elims			Consolidated
2011
Net sales
External	$	—	$	186.8		$	48.2		$	412.6		$	—		$	647.6
Intercompany	—		7.0			48.2			3.7			(58.9		)	—
Total net sales	—		193.8			96.4			416.3			(58.9		)	647.6
Cost of goods sold	—		182.4			84.2			336.4			(58.9		)	544.1
Gross profit	—		11.4			12.2			79.9			—			103.5
Selling, general and administrative expenses	—		48.0			—			11.0			—			59.0
Operating income (loss)	—		(36.6		)	12.2			68.9			—			44.5
Non-operating income (expense), net	—		(21.1		)	0.4			1.1			—			(19.6		)
Income (loss) before income taxes	—		(57.7		)	12.6			70.0			—			24.9
Income tax expense (benefit)	—		(0.1		)	—			2.4			—			2.3
Earnings (loss) from equity in subsidiaries	24.8		33.3			(13.1		)	—			(45.0		)	—
Net income (loss) before royalties and dividends	24.8		(24.3		)	(0.5		)	67.6			(45.0		)	22.6
Royalties and dividends	—		49.1			—			(49.1		)	—			—
Net income (loss) after royalties and dividends	24.8		24.8			(0.5		)	18.5			(45.0		)	22.6
Net loss attributable to noncontrolling interests	—		—			—			2.2			—			2.2
Net income (loss) attributable to AAM	$	24.8	$	24.8		$	(0.5	)	$	20.7		$	(45.0	)	$	24.8




	Holdings		AAM Inc.			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Elims			Consolidated
2010
Net sales
External	$	—	$	191.5		$	49.1		$	377.6		$	—		$	618.2
Intercompany	—		6.4			44.0			4.2			(54.6		)	—
Total net sales	—		197.9			93.1			381.8			(54.6		)	618.2
Cost of goods sold	—		178.8			83.4			296.7			(54.6		)	504.3
Gross profit	—		19.1			9.7			85.1			—			113.9
Selling, general and administrative expenses	—		48.6			—			4.6			—			53.2
Operating income (loss)	—		(29.5		)	9.7			80.5			—			60.7
Non-operating income (expense), net	—		(22.0		)	—			0.8			—			(21.2		)
Income (loss) before income taxes	—		(51.5		)	9.7			81.3			—			39.5
Income tax expense (benefit)	—		(1.1		)	—			1.9			—			0.8
Earnings (loss) from equity in subsidiaries	38.8		70.0			(4.5		)	—			(104.3		)	—
Net income before royalties and dividends	38.8		19.6			5.2			79.4			(104.3		)	38.7
Royalties and dividends	—		19.2			—			(19.2		)	—			—
Net income after royalties and dividends	38.8		38.8			5.2			60.2			(104.3		)	38.7
Net loss attributable to noncontrolling interests	—		—			—			0.1			—			0.1
Net income attributable to AAM	$	38.8	$	38.8		$	5.2		$	60.3		$	(104.3	)	$	38.8



Condensed Consolidating Statements of Operations
Nine Months Ended September 30,
(in millions)
	Holdings		AAM Inc.			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Elims			Consolidated
2011
Net sales
External	$	—	$	601.8		$	148.3		$	1,229.3		$	—		$	1,979.4
Intercompany	—		19.3			145.1			8.7			(173.1		)	—
Total net sales	—		621.1			293.4			1,238.0			(173.1		)	1,979.4
Cost of goods sold	—		569.0			253.5			980.6			(173.1		)	1,630.0
Gross profit	—		52.1			39.9			257.4			—			349.4
Selling, general and administrative expenses	—		144.0			—			30.5			—			174.5
Operating income (loss)	—		(91.9		)	39.9			226.9			—			174.9
Non-operating income (expense), net	—		(68.1		)	0.8			3.7			—			(63.6		)
Income (loss) before income taxes	—		(160.0		)	40.7			230.6			—			111.3
Income tax expense (benefit)	—		(2.1		)	—			6.3			—			4.2
Earnings (loss) from equity in subsidiaries	111.7		121.2			(30.4		)	—			(202.5		)	—
Net income (loss) before royalties and dividends	111.7		(36.7		)	10.3			224.3			(202.5		)	107.1
Royalties and dividends	—		148.4			—			(148.4		)	—			—
Net income after royalties and dividends	111.7		111.7			10.3			75.9			(202.5		)	107.1
Net loss attributable to noncontrolling interests	—		—			—			4.6			—			4.6
Net income attributable to AAM	$	111.7	$	111.7		$	10.3		$	80.5		$	(202.5	)	$	111.7




	Holdings		AAM Inc.			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Elims			Consolidated
2010
Net sales
External	$	—	$	446.5		$	142.4		$	1,110.8		$	—		$	1,699.7
Intercompany	—		20.8			121.3			11.5			(153.6		)	—
Total net sales	—		467.3			263.7			1,122.3			(153.6		)	1,699.7
Cost of goods sold	—		441.5			248.0			863.7			(153.6		)	1,399.6
Gross profit	—		25.8			15.7			258.6			—			300.1
Selling, general and administrative expenses	—		135.0			—			12.0			—			147.0
Operating income (loss)	—		(109.2		)	15.7			246.6			—			153.1
Non-operating income (expense), net	—		(66.5		)	0.1			(1.3		)	—			(67.7		)
Income (loss) before income taxes	—		(175.7		)	15.8			245.3			—			85.4
Income tax expense (benefit)	—		(0.9		)	—			6.1			—			5.2
Earnings (loss) from equity in subsidiaries	80.5		197.6			(20.5		)	—			(257.6		)	—
Net income (loss) before royalties and dividends	80.5		22.8			(4.7		)	239.2			(257.6		)	80.2
Royalties and dividends	—		57.7			—			(57.7		)	—			—
Net income (loss) after royalties and dividends	80.5		80.5			(4.7		)	181.5			(257.6		)	80.2
Net loss attributable to noncontrolling interests	—		—			—			0.3			—			0.3
Net income (loss) attributable to AAM	$	80.5	$	80.5		$	(4.7	)	$	181.8		$	(257.6	)	$	80.5



Condensed Consolidating Balance Sheets
(in millions)
	Holdings			AAM Inc.			Guarantor Subsidiaries		Non-Guarantor Subsidiaries			Elims			Consolidated
September 30, 2011
Assets
Current assets
Cash and cash equivalents	$	—		$	40.9		$	—	$	73.5		$	—		$	114.4
Accounts receivable, net	—			110.5			27.6		246.7			—			384.8
Inventories, net	—			43.6			28.1		86.0			—			157.7
Other current assets	—			28.0			0.5		54.6			—			83.1
Total current assets	—			223.0			56.2		460.8			—			740.0
Property, plant and equipment, net	—			238.7			85.9		618.0			—			942.6
Goodwill	—			—			147.9		8.1			—			156.0
Other assets and deferred charges	—			299.7			19.8		74.7			—			394.2
Investment in subsidiaries	—			985.7			39.4		—			(1,025.1		)	—
Total assets	$	—		$	1,747.1		$	349.2	$	1,161.6		$	(1,025.1	)	$	2,232.8
Liabilities and stockholders’ equity (deficit)
Current liabilities
Accounts payable	$	—		$	105.3		$	44.0	$	214.3		$	—		$	363.6
Other current liabilities	—			161.2			3.6		86.0			—			250.8
Total current liabilities	—			266.5			47.6		300.3			—			614.4
Intercompany payable (receivable)	320.7			(325.5		)	269.3		(264.5		)	—			—
Long-term debt	—			998.7			6.0		45.9			—			1,050.6
Investment in subsidiaries obligation	59.7			—			—		—			(59.7		)	—
Other long-term liabilities	—			867.1			1.2		72.8			—			941.1
Total liabilities	380.4			1,806.8			324.1		154.5			(59.7		)	2,606.1
Total AAM Stockholders’ equity (deficit)	(380.4		)	(59.7		)	25.1		1,000.0			(965.4		)	(380.4		)
Noncontrolling interests in subsidiaries	—			—			—		7.1			—			7.1
Total stockholders’ equity (deficit)	(380.4		)	(59.7		)	25.1		1,007.1			(965.4		)	(373.3		)
Total liabilities and stockholders’ equity (deficit)	$	—		$	1,747.1		$	349.2	$	1,161.6		$	(1,025.1	)	$	2,232.8




	Holdings			AAM Inc.			Guarantor Subsidiaries		Non-Guarantor Subsidiaries			Elims			Consolidated
December 31, 2010
Assets
Current assets
Cash and cash equivalents	$	—		$	67.6		$	—	$	177.0		$	—		$	244.6
Accounts receivable, net	—			18.4			24.5		103.7			—			146.6
Inventories, net	—			34.8			27.0		68.5			—			130.3
Other current assets	—			35.6			0.2		44.8			—			80.6
Total current assets	—			156.4			51.7		394.0			—			602.1
Property, plant and equipment, net	—			259.6			91.0		585.7			—			936.3
Goodwill	—			—			147.8		8.0			—			155.8
Other assets and deferred charges	—			329.8			17.2		73.5			—			420.5
Investment in subsidiaries	—			887.7			41.0		—			(928.7		)	—
Total assets	$	—		$	1,633.5		$	348.7	$	1,061.2		$	(928.7	)	$	2,114.7
Liabilities and stockholders’ equity (deficit)
Current liabilities
Accounts payable	$	—		$	76.4		$	35.7	$	171.5		$	—		$	283.6
Other current liabilities	—			209.9			4.1		71.5			—			285.5
Total current liabilities	—			286.3			39.8		243.0			—			569.1
Intercompany payable (receivable)	320.1			(395.3		)	272.5		(197.3		)	—			—
Long-term debt	0.4			970.2			6.1		33.3			—			1,010.0
Investment in subsidiaries obligation	159.0			—			—		—			(159.0		)	—
Other long-term liabilities	—			931.3			1.2		71.2			—			1,003.7
Total liabilities	479.5			1,792.5			319.6		150.2			(159.0		)	2,582.8
Total AAM Stockholders’ equity (deficit)	(479.5		)	(159.0		)	29.1		899.6			(769.7		)	(479.5		)
Noncontrolling interests in subsidiaries	—			—			—		11.4			—			11.4
Total stockholders’ equity (deficit)	(479.5		)	(159.0		)	29.1		911.0			(769.7		)	(468.1		)
Total liabilities and stockholders’ equity (deficit)	$	—		$	1,633.5		$	348.7	$	1,061.2		$	(928.7	)	$	2,114.7



Condensed Consolidating Statements of Cash Flows
Nine Months Ended September 30,
(in millions)
	Holdings			AAM Inc.			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Elims		Consolidated
2011
Net cash provided by (used in) operating activities	$	—		$	(106.1	)	$	35.5		$	5.2		$	—	$	(65.4	)
Investing activities
Purchases of property, plant and equipment	—			(25.9		)	(3.5		)	(81.6		)	—		(111.0		)
Proceeds from sale of equipment	—			1.5			0.1			6.3			—		7.9
Net cash used in investing activities	—			(24.4		)	(3.4		)	(75.3		)	—		(103.1		)
Financing activities
Net debt activity	(42.9		)	70.0			(0.2		)	13.7			—		40.6
Intercompany activity	43.0			34.9			(31.9		)	(46.0		)	—		—
Debt issuance costs	—			(5.7		)	—			—			—		(5.7		)
Employee stock option exercises	—			4.6			—			—			—		4.6
Purchase of treasury stock	(0.1		)	—			—			—			—		(0.1		)
Net cash provided by (used in) financing activities	—			103.8			(32.1		)	(32.3		)	—		39.4
Effect of exchange rate changes on cash	—			—			—			(1.1		)	—		(1.1		)
Net decrease in cash and cash equivalents	—			(26.7		)	—			(103.5		)	—		(130.2		)
Cash and cash equivalents at beginning of period	—			67.6			—			177.0			—		244.6
Cash and cash equivalents at end of period	$	—		$	40.9		$	—		$	73.5		$	—	$	114.4




	Holdings			AAM Inc.			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Elims		Consolidated
2010
Net cash provided by (used in) operating activities	$	—		$	(84.8	)	$	32.3		$	246.0		$	—	$	193.5
Investing activities
Purchases of property, plant and equipment	—			(20.7		)	(3.3		)	(37.7		)	—		(61.7		)
Redemption of short-term investments	—			1.6			—			—			—		1.6
Purchase buyouts of leased equipment	—			(7.8		)	—			—			—		(7.8		)
Proceeds from sale of equipment	—			1.1			—			0.1			—		1.2
Net cash used in investing activities	—			(25.8		)	(3.3		)	(37.6		)	—		(66.7		)
Financing activities
Net debt activity	—			(59.4		)	(0.1		)	(1.3		)	—		(60.8		)
Intercompany activity	1.3			162.4			(30.8		)	(132.9		)	—		—
Debt issuance costs	—			(2.2		)	—			—			—		(2.2		)
Purchase of treasury stock	(1.3		)	—			—			—			—		(1.3		)
Net cash provided by (used in) financing activities	—			100.8			(30.9		)	(134.2		)	—		(64.3		)
Effect of exchange rate changes on cash	—			—			—			(0.4		)	—		(0.4		)
Net increase (decrease) in cash and cash equivalents	—			(9.8		)	(1.9		)	73.8			—		62.1
Cash and cash equivalents at beginning of period	—			80.6			1.9			95.6			—		178.1
Cash and cash equivalents at end of period	$	—		$	70.8		$	—		$	169.4		$	—	$	240.2