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Earnings (Loss) Per Share (EPS)
 12 Months Ended
Dec. 31, 2011
Earnings (Loss) per Share (EPS) [Abstract]  
Earnings Per Share [Text Block]
EARNINGS (LOSS) PER SHARE (EPS)

The following table sets forth the computation of our basic and diluted EPS:
 
2011
 
2010
 
2009
 
(in millions, except per share data)
Numerator
 
 
 
 
 
Net income (loss) attributable to AAM
$
142.8

 
$
115.4

 
$
(253.1
)
 
 
 
 
 
 
Denominators
 
 
 
 
 
Basic shares outstanding -
 
 
 
 
 
Weighted-average shares outstanding
74.9

 
71.5

 
52.6

 
 
 
 
 
 
Effect of dilutive securities -
 
 
 
 
 
Dilutive stock options
0.1

 
0.1

 
—

Dilutive warrants
0.4

 
2.9

 
—

 
 
 
 
 
 
Diluted shares outstanding -
 
 
 
 
 
Adjusted weighted-average shares after assumed conversions
75.4

 
74.5

 
52.6

 
 
 
 
 
 
Basic EPS
$
1.91

 
$
1.61

 
$
(4.81
)
 
 
 
 
 
 
Diluted EPS
$
1.89

 
$
1.55

 
$
(4.81
)


Basic and diluted loss per share are the same in 2009 because the effect of 0.7 million potentially dilutive warrants would have been antidilutive.

Certain exercisable stock options were excluded in the computations of diluted EPS because the exercise price of these options was greater than the average annual market prices of our stock. The number of stock options outstanding excluded from the calculation of diluted EPS was 4.0 million at year-end 2011, 4.8 million at year-end 2010 and 5.7 million at year-end 2009. The ranges of exercise prices related to these stock options were $15.56 - $40.83 at year-end 2011, $10.08 - $40.83 at year-end 2010 and $8.85 - $40.83 at year-end 2009.

As part of the 2009 Settlement and Commercial Agreement, we issued to GM five year warrants, which entitled GM to purchase 4.1 million shares of AAM's common stock at an exercise price of $2.76 per share. In the first quarter of 2011, GM exercised these warrants. In accordance with the cashless exercise option available in the agreement, we issued 3.3 million net shares of common stock to GM.