Supplemental Guarantor Condensed Consolidating Financial Statements (Tables)

9 Months Ended

Sep. 30, 2012

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

Supplemental Guarantor Consolidating Income Statement [Table Text Block]



Condensed Consolidating Statements of Operations and Comprehensive Income (Loss)
Three Months Ended September 30,
(in millions)
	Holdings			AAM Inc.			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Elims			Consolidated
2012
Net sales
External	$	—		$	162.2		$	55.4		$	485.3		$	—		$	702.9
Intercompany	—			3.5			54.4			10.1			(68.0		)	—
Total net sales	—			165.7			109.8			495.4			(68.0		)	702.9
Cost of goods sold	—			164.3			97.7			418.2			(68.0		)	612.2
Gross profit	—			1.4			12.1			77.2			—			90.7
Selling, general and administrative expenses	—			50.0			—			10.6			—			60.6
Operating income (loss)	—			(48.6		)	12.1			66.6			—			30.1
Non-operating income (expense), net	—			(35.7		)	0.1			(1.8		)	—			(37.4		)
Income (loss) before income taxes	—			(84.3		)	12.2			64.8			—			(7.3		)
Income tax expense	—			0.1			—			0.8			—			0.9
Earnings (loss) from equity in subsidiaries	(8.1		)	34.5			(14.7		)	—			(11.7		)	—
Net income (loss) before royalties and dividends	(8.1		)	(49.9		)	(2.5		)	64.0			(11.7		)	(8.2		)
Royalties and dividends	—			41.8			—			(41.8		)	—			—
Net income (loss) after royalties and dividends	(8.1		)	(8.1		)	(2.5		)	22.2			(11.7		)	(8.2		)
Net loss attributable to noncontrolling interests	—			—			—			0.1			—			0.1
Net income (loss) attributable to AAM	$	(8.1	)	$	(8.1	)	$	(2.5	)	$	22.3		$	(11.7	)	$	(8.1	)
Other comprehensive income (loss)	(95.6		)	(95.6		)	4.1			5.8			85.7			(95.6		)
Comprehensive income (loss) attributable to AAM	$	(103.7	)	$	(103.7	)	$	1.6		$	28.1		$	74.0		$	(103.7	)




	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
Other comprehensive loss	(38.8		)	(38.8		)	(28.7		)	(37.0		)	104.5			(38.8		)
Foreign currency translation adjustments attributable to noncontrolling interests	0.5			0.5			—			0.5			(1.0		)	0.5
Comprehensive loss attributable to AAM	$	(13.5	)	$	(13.5	)	$	(29.2	)	$	(15.8	)	$	58.5		$	(13.5	)



Condensed Consolidating Statements of Operations and Comprehensive Income (Loss)
Nine Months Ended September 30,
(in millions)
	Holdings			AAM Inc.			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Elims			Consolidated
2012
Net sales
External	$	—		$	542.6		$	164.7		$	1,486.9		$	—		$	2,194.2
Intercompany	—			14.9			174.5			22.3			(211.7		)	—
Total net sales	—			557.5			339.2			1,509.2			(211.7		)	2,194.2
Cost of goods sold	—			544.7			298.3			1,247.2			(211.7		)	1,878.5
Gross profit	—			12.8			40.9			262.0			—			315.7
Selling, general and administrative expenses	—			148.2			—			29.7			—			177.9
Operating income (loss)	—			(135.4		)	40.9			232.3			—			137.8
Non-operating income (expense), net	—			(84.5		)	1.3			(3.0		)	—			(86.2		)
Income (loss) before income taxes	—			(219.9		)	42.2			229.3			—			51.6
Income tax expense	—			0.4			—			4.4			—			4.8
Earnings (loss) from equity in subsidiaries	47.8			133.8			(40.9		)	—			(140.7		)	—
Net income (loss) before royalties and dividends	47.8			(86.5		)	1.3			224.9			(140.7		)	46.8
Royalties and dividends	—			134.3			—			(134.3		)	—			—
Net income after royalties and dividends	47.8			47.8			1.3			90.6			(140.7		)	46.8
Net loss attributable to noncontrolling interests	—			—			—			1.0			—			1.0
Net income attributable to AAM	$	47.8		$	47.8		$	1.3		$	91.6		$	(140.7	)	$	47.8
Other comprehensive loss	(116.7		)	(116.7		)	(7.3		)	(1.0		)	125.0			(116.7		)
Foreign currency translation adjustments attributable to noncontrolling interests	(0.2		)	(0.2		)	—			(0.2		)	0.4			(0.2		)
Comprehensive income (loss) attributable to AAM	$	(69.1	)	$	(69.1	)	$	(6.0	)	$	90.4		$	(15.3	)	$	(69.1	)




	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
Other comprehensive loss	(20.7		)	(20.7		)	(16.2		)	(24.4		)	61.3			(20.7		)
Foreign currency translation adjustments attributable to noncontrolling interests	(0.3		)	(0.3		)	—			(0.3		)	0.6			(0.3		)
Comprehensive income (loss) attributable to AAM	$	90.7		$	90.7		$	(5.9	)	$	55.8		$	(140.6	)	$	90.7

Supplemental Guarantor Consolidating Balance Sheet [Table Text Block]



Condensed Consolidating Balance Sheets
(in millions)
	Holdings			AAM Inc.			Guarantor Subsidiaries		Non-Guarantor Subsidiaries			Elims			Consolidated
September 30, 2012
Assets
Current assets
Cash and cash equivalents	$	—		$	151.8		$	—	$	57.2		$	—		$	209.0
Accounts receivable, net	—			84.9			30.9		349.5			—			465.3
Inventories, net	—			51.2			33.1		158.0			—			242.3
Other current assets	—			32.1			1.7		71.7			—			105.5
Total current assets	—			320.0			65.7		636.4			—			1,022.1
Property, plant and equipment, net	—			258.4			84.3		664.9			—			1,007.6
Goodwill	—			—			147.8		8.5			—			156.3
Other assets and deferred charges	—			360.8			39.4		88.0			—			488.2
Investment in subsidiaries	—			1,151.0			4.3		—			(1,155.3		)	—
Total assets	$	—		$	2,090.2		$	341.5	$	1,397.8		$	(1,155.3	)	$	2,674.2
Liabilities and stockholders’ equity (deficit)
Current liabilities
Accounts payable	$	—		$	95.9		$	47.4	$	286.2		$	—		$	429.5
Other current liabilities	—			128.1			3.8		88.4			—			220.3
Total current liabilities	—			224.0			51.2		374.6			—			649.8
Intercompany payable (receivable)	326.6			(392.4		)	275.2		(209.4		)	—			—
Long-term debt	—			1,541.6			5.7		32.6			—			1,579.9
Investment in subsidiaries obligation	171.1			—			—		—			(171.1		)	—
Other long-term liabilities	—			888.1			3.6		50.5			—			942.2
Total liabilities	497.7			2,261.3			335.7		248.3			(171.1		)	3,171.9
Total AAM Stockholders’ equity (deficit)	(497.7		)	(171.1		)	5.8		1,149.5			(984.2		)	(497.7		)
Noncontrolling interests in subsidiaries	—			—			—		—			—			—
Total stockholders’ equity (deficit)	(497.7		)	(171.1		)	5.8		1,149.5			(984.2		)	(497.7		)
Total liabilities and stockholders’ equity (deficit)	$	—		$	2,090.2		$	341.5	$	1,397.8		$	(1,155.3	)	$	2,674.2




	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
Nine Months Ended September 30,
(in millions)
	Holdings			AAM Inc.			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Elims		Consolidated
2012
Net cash provided by (used in) operating activities	$	—		$	(276.8	)	$	42.3		$	37.9		$	—	$	(196.6	)
Investing activities
Purchases of property, plant and equipment	—			(36.2		)	(6.2		)	(101.3		)	—		(143.7		)
Proceeds from sale of equipment	—			0.5			—			1.7			—		2.2
Net cash used in investing activities	—			(35.7		)	(6.2		)	(99.6		)	—		(141.5		)
Financing activities
Net debt activity	—			409.6			(0.2		)	(12.4		)	—		397.0
Intercompany activity	5.9			(19.0		)	(35.9		)	49.0			—		—
Debt issuance costs	—			(10.1		)	—			—			—		(10.1		)
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	—			380.6			(36.1		)	32.6			—		377.1
Effect of exchange rate changes on cash	—			—			—			0.8			—		0.8
Net increase (decrease) in cash and cash equivalents	—			68.1			—			(28.3		)	—		39.8
Cash and cash equivalents at beginning of period	—			83.7			—			85.5			—		169.2
Cash and cash equivalents at end of period	$	—		$	151.8		$	—		$	57.2		$	—	$	209.0




	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