Supplemental Guarantor Condensed Consolidating Financial Statements (Tables)

6 Months Ended

Jun. 30, 2012

Supplemental Guarantor Condensed Consolidating Financial Statements -9.25% Notes [Abstract]

Supplemental Guarantor Consolidating Income Statement [Table Text Block]



Condensed Consolidating Statements of Income
Three Months Ended June 30,
(in millions)
	Holdings			AAM Inc.			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Elims			Consolidated
2012
Net sales
External	$	—		$	182.1		$	54.8		$	502.9		$	—		$	739.8
Intercompany	—			3.8			59.4			6.4			(69.6		)	—
Total net sales	—			185.9			114.2			509.3			(69.6		)	739.8
Cost of goods sold	—			206.4			100.7			416.5			(69.6		)	654.0
Gross profit (loss)	—			(20.5		)	13.5			92.8			—			85.8
Selling, general and administrative expenses	—			46.5			—			9.0			—			55.5
Operating income (loss)	—			(67.0		)	13.5			83.8			—			30.3
Non-operating income (expense), net	—			(24.5		)	0.4			0.2			—			(23.9		)
Income (loss) before income taxes	—			(91.5		)	13.9			84.0			—			6.4
Income tax expense (benefit)	—			1.2			—			0.5			—			1.7
Earnings (loss) from equity in subsidiaries	4.7			52.0			(12.7		)	—			(44.0		)	—
Net income (loss) before royalties and dividends	4.7			(40.7		)	1.2			83.5			(44.0		)	4.7
Royalties and dividends	—			45.4			—			(45.4		)	—			—
Net income after royalties and dividends	4.7			4.7			1.2			38.1			(44.0		)	4.7
Net loss attributable to noncontrolling interests	—			—			—			—			—			—
Net income attributable to AAM	$	4.7		$	4.7		$	1.2		$	38.1		$	(44.0	)	$	4.7
Other comprehensive (loss)	(23.2		)	(23.2		)	(21.4		)	(21.8		)	66.4			(23.2		)
Comprehensive income (loss) attributable to AAM	$	(18.5	)	$	(18.5	)	$	(20.2	)	$	16.3		$	22.4		$	(18.5	)




	Holdings		AAM Inc.			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Elims			Consolidated
2011
Net sales
External	$	—	$	219.3		$	49.2		$	417.7		$	—		$	686.2
Intercompany	—		6.4			52.0			2.3			(60.7		)	—
Total net sales	—		225.7			101.2			420.0			(60.7		)	686.2
Cost of goods sold	—		203.8			86.3			326.3			(60.7		)	555.7
Gross profit	—		21.9			14.9			93.7			—			130.5
Selling, general and administrative expenses	—		48.3			—			10.5			—			58.8
Operating income (loss)	—		(26.4		)	14.9			83.2			—			71.7
Non-operating income (expense), net	—		(25.0		)	0.2			0.8			—			(24.0		)
Income (loss) before income taxes	—		(51.4		)	15.1			84.0			—			47.7
Income tax expense (benefit)	—		(2.3		)	—			2.1			—			(0.2		)
Earnings (loss) from equity in subsidiaries	49.2		47.9			(6.2		)	—			(90.9		)	—
Net income (loss) before royalties and dividends	49.2		(1.2		)	8.9			81.9			(90.9		)	47.9
Royalties and dividends	—		50.4			—			(50.4		)	—			—
Net income after royalties and dividends	49.2		49.2			8.9			31.5			(90.9		)	47.9
Net loss attributable to noncontrolling interests	—		—			—			1.3			—			1.3
Net income attributable to AAM	$	49.2	$	49.2		$	8.9		$	32.8		$	(90.9	)	$	49.2
Other comprehensive income (loss)	8.6		8.6			8.5			8.6			(25.7		)	8.6
Comprehensive income attributable to AAM	$	57.8	$	57.8		$	17.4		$	41.4		$	(116.6	)	$	57.8



Condensed Consolidating Statements of Income
Six Months Ended June 30,
(in millions)
	Holdings			AAM Inc.			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Elims			Consolidated
2012
Net sales
External	$	—		$	380.4		$	109.3		$	1,001.6		$	—		$	1,491.3
Intercompany	—			11.4			120.1			12.2			(143.7		)	—
Total net sales	—			391.8			229.4			1,013.8			(143.7		)	1,491.3
Cost of goods sold	—			380.4			200.6			829.0			(143.7		)	1,266.3
Gross profit	—			11.4			28.8			184.8			—			225.0
Selling, general and administrative expenses	—			98.2			—			19.1			—			117.3
Operating income (loss)	—			(86.8		)	28.8			165.7			—			107.7
Non-operating income (expense), net	—			(48.8		)	1.2			(1.2		)	—			(48.8		)
Income (loss) before income taxes	—			(135.6		)	30.0			164.5			—			58.9
Income tax expense	—			0.3			—			3.6			—			3.9
Earnings (loss) from equity in subsidiaries	55.9			99.3			(26.2		)	—			(129.0		)	—
Net income (loss) before royalties and dividends	55.9			(36.6		)	3.8			160.9			(129.0		)	55.0
Royalties and dividends	—			92.5			—			(92.5		)	—			—
Net income after royalties and dividends	55.9			55.9			3.8			68.4			(129.0		)	55.0
Net loss attributable to noncontrolling interests	—			—			—			0.9			—			0.9
Net income attributable to AAM	$	55.9		$	55.9		$	3.8		$	69.3		$	(129.0	)	$	55.9
Other comprehensive income (loss)	(20.9		)	(20.9		)	(11.3		)	(6.8		)	39.0			(20.9		)
Foreign currency translation adjustments attributable to noncontrolling interests	(0.2		)	(0.2		)	—			(0.2		)	0.4			(0.2		)
Comprehensive income attributable to AAM	$	34.8		$	34.8		$	(7.5	)	$	62.3		$	(89.6	)	$	34.8




	Holdings			AAM Inc.			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Elims			Consolidated
2011
Net sales
External	$	—		$	414.9		$	100.2		$	816.7		$	—		$	1,331.8
Intercompany	—			12.3			97.0			5.0			(114.3		)	—
Total net sales	—			427.2			197.2			821.7			(114.3		)	1,331.8
Cost of goods sold	—			386.6			169.6			644.0			(114.3		)	1,085.9
Gross profit	—			40.6			27.6			177.7			—			245.9
Selling, general and administrative expenses	—			96.0			—			19.5			—			115.5
Operating income (loss)	—			(55.4		)	27.6			158.2			—			130.4
Non-operating income (expense), net	—			(47.0		)	0.6			2.4			—			(44.0		)
Income (loss) before income taxes	—			(102.4		)	28.2			160.6			—			86.4
Income tax expense (benefit)	—			(2.0		)	—			3.9			—			1.9
Earnings (loss) from equity in subsidiaries	86.9			87.9			(17.5		)	—			(157.3		)	—
Net income (loss) before royalties and dividends	86.9			(12.5		)	10.7			156.7			(157.3		)	84.5
Royalties and dividends	—			99.4			—			(99.4		)	—			—
Net income after royalties and dividends	86.9			86.9			10.7			57.3			(157.3		)	84.5
Net loss attributable to noncontrolling interests	—			—			—			2.4			—			2.4
Net income attributable to AAM	$	86.9		$	86.9		$	10.7		$	59.7		$	(157.3	)	$	86.9
Other comprehensive income	18.1			18.1			13.3			13.5			(44.9		)	18.1
Foreign currency translation adjustments attributable to noncontrolling interests	(0.8		)	(0.8		)	—			(0.8		)	1.6			(0.8		)
Comprehensive income attributable to AAM	$	104.2		$	104.2		$	24.0		$	72.4		$	(200.6	)	$	104.2

Supplemental Guarantor Consolidating Balance Sheet [Table Text Block]



Condensed Consolidating Balance Sheets
(in millions)
	Holdings			AAM Inc.			Guarantor Subsidiaries		Non-Guarantor Subsidiaries			Elims			Consolidated
June 30, 2012
Assets
Current assets
Cash and cash equivalents	$	—		$	22.4		$	—	$	62.8		$	—		$	85.2
Accounts receivable, net	—			106.2			28.0		340.0			—			474.2
Inventories, net	—			43.6			30.6		134.3			—			208.5
Other current assets	—			22.5			1.4		69.8			—			93.7
Total current assets	—			194.7			60.0		606.9			—			861.6
Property, plant and equipment, net	—			261.6			83.7		645.0			—			990.3
Goodwill	—			—			147.8		8.1			—			155.9
Other assets and deferred charges	—			318.0			38.5		76.9			—			433.4
Investment in subsidiaries	—			1,109.5			4.6		—			(1,114.1		)	—
Total assets	$	—		$	1,883.8		$	334.6	$	1,336.9		$	(1,114.1	)	$	2,441.2
Liabilities and stockholders’ equity (deficit)
Current liabilities
Accounts payable	$	—		$	103.9		$	45.8	$	289.9		$	—		$	439.6
Other current liabilities	—			162.2			3.8		86.3			—			252.3
Total current liabilities	—			266.1			49.6		376.2			—			691.9
Intercompany payable (receivable)	326.6			(350.4		)	270.9		(247.1		)	—			—
Long-term debt	—			1,129.2			5.8		39.3			—			1,174.3
Investment in subsidiaries obligation	68.1			—			—		—			(68.1		)	—
Other long-term liabilities	—			907.0			3.6		59.1			—			969.7
Total liabilities	394.7			1,951.9			329.9		227.5			(68.1		)	2,835.9
Total AAM Stockholders’ equity (deficit)	(394.7		)	(68.1		)	4.7		1,109.4			(1,046.0		)	(394.7		)
Noncontrolling interests in subsidiaries	—			—			—		—			—			—
Total stockholders’ equity (deficit)	(394.7		)	(68.1		)	4.7		1,109.4			(1,046.0		)	(394.7		)
Total liabilities and stockholders’ equity (deficit)	$	—		$	1,883.8		$	334.6	$	1,336.9		$	(1,114.1	)	$	2,441.2




	Holdings			AAM Inc.			Guarantor Subsidiaries		Non-Guarantor Subsidiaries			Elims			Consolidated
December 31, 2011
Assets
Current assets
Cash and cash equivalents	$	—		$	83.7		$	—	$	85.5		$	—		$	169.2
Accounts receivable, net	—			77.1			23.3		232.9			—			333.3
Inventories, net	—			48.2			35.3		93.7			—			177.2
Other current assets	—			26.5			1.7		55.2			—			83.4
Total current assets	—			235.5			60.3		467.3			—			763.1
Property, plant and equipment, net	—			260.4			84.6		626.2			—			971.2
Goodwill	—			—			147.8		8.1			—			155.9
Other assets and deferred charges	—			327.2			35.8		75.5			—			438.5
Investment in subsidiaries	—			1,015.2			26.6		—			(1,041.8		)	—
Total assets	$	—		$	1,838.3		$	355.1	$	1,177.1		$	(1,041.8	)	$	2,328.7
Liabilities and stockholders’ equity (deficit)
Current liabilities
Accounts payable	$	—		$	96.3		$	41.0	$	199.8		$	—		$	337.1
Other current liabilities	—			155.1			3.0		80.9			—			239.0
Total current liabilities	—			251.4			44.0		280.7			—			576.1
Intercompany payable (receivable)	320.7			(368.6		)	289.0		(241.1		)	—			—
Long-term debt	—			1,128.9			5.9		45.4			—			1,180.2
Investment in subsidiaries obligation	104.8			—			—		—			(104.8		)	—
Other long-term liabilities	—			931.4			3.6		57.0			—			992.0
Total liabilities	425.5			1,943.1			342.5		142.0			(104.8		)	2,748.3
Total AAM Stockholders’ equity (deficit)	(425.5		)	(104.8		)	12.6		1,029.2			(937.0		)	(425.5		)
Noncontrolling interests in subsidiaries	—			—			—		5.9			—			5.9
Total stockholders’ equity (deficit)	(425.5		)	(104.8		)	12.6		1,035.1			(937.0		)	(419.6		)
Total liabilities and stockholders’ equity (deficit)	$	—		$	1,838.3		$	355.1	$	1,177.1		$	(1,041.8	)	$	2,328.7

Supplemental Guarantor Consolidating Statement of Cash Flows [Table Text Block]



Condensed Consolidating Statements of Cash Flows
Six Months Ended June 30,
(in millions)
	Holdings			AAM Inc.			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Elims		Consolidated
2012
Net cash provided by (used in) operating activities	$	—		$	(51.9	)	$	32.4		$	44.1		$	—	$	24.6
Investing activities
Purchases of property, plant and equipment	—			(25.2		)	(4.2		)	(63.5		)	—		(92.9		)
Proceeds from sale of equipment	—			0.4			—			0.8			—		1.2
Net cash used in investing activities	—			(24.8		)	(4.2		)	(62.7		)	—		(91.7		)
Financing activities
Net debt activity	—			(1.7		)	(0.1		)	(5.5		)	—		(7.3		)
Intercompany activity	5.9			17.0			(28.1		)	5.2			—		—
Purchase of noncontrolling interest	—			—			—			(4.0		)	—		(4.0		)
Employee stock option exercises	—			0.1			—			—			—		0.1
Purchase of treasury stock	(5.9		)	—			—			—			—		(5.9		)
Net cash provided by (used in) financing activities	—			15.4			(28.2		)	(4.3		)	—		(17.1		)
Effect of exchange rate changes on cash	—			—			—			0.2			—		0.2
Net decrease in cash and cash equivalents	—			(61.3		)	—			(22.7		)	—		(84.0		)
Cash and cash equivalents at beginning of period	—			83.7			—			85.5			—		169.2
Cash and cash equivalents at end of period	$	—		$	22.4		$	—		$	62.8		$	—	$	85.2




	Holdings			AAM Inc.			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Elims		Consolidated
2011
Net cash provided by operating activities	$	—		$	0.2		$	27.9		$	88.4		$	—	$	116.5
Investing activities
Purchases of property, plant and equipment	—			(16.5		)	(1.8		)	(53.3		)	—		(71.6		)
Proceeds from sale of equipment	—			1.4			0.1			6.3			—		7.8
Net cash used in investing activities	—			(15.1		)	(1.7		)	(47.0		)	—		(63.8		)
Financing activities
Net debt activity	(42.9		)	—			(0.1		)	(4.4		)	—		(47.4		)
Intercompany activity	43.0			10.0			(26.1		)	(26.9		)	—		—
Debt issuance costs	—			(5.3		)	—			—			—		(5.3		)
Employee stock option exercises	—			4.6			—			—			—		4.6
Purchase of treasury stock	(0.1		)	—			—			—			—		(0.1		)
Net cash provided by (used in) financing activities	—			9.3			(26.2		)	(31.3		)	—		(48.2		)
Effect of exchange rate changes on cash	—			—			—			1.2			—		1.2
Net increase (decrease) in cash and cash equivalents	—			(5.6		)	—			11.3			—		5.7
Cash and cash equivalents at beginning of period	—			67.6			—			177.0			—		244.6
Cash and cash equivalents at end of period	$	—		$	62.0		$	—		$	188.3		$	—	$	250.3