XML 18 R7.htm IDEA: XBRL DOCUMENT v3.7.0.1
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Millions
 6 Months Ended
Jun. 30, 2017
Jun. 30, 2016
Net income $ 144.7 $ 132.1
Adjustments to reconcile net income to net cash provided by operating activities    
Depreciation and amortization 180.8 100.5
Deferred income taxes (24.6) 20.9
Stock-based compensation 30.9 10.5
Pensions and other postretirement benefits, net of contributions (0.5) (2.4)
Loss on disposal of property, plant and equipment, net 1.1 1.1
Undistributed earnings in affiliate (1.7) (1.4)
Debt refinancing and redemption costs 2.7 0.0
Changes in operating assets and liabilities, net of amounts acquired    
Accounts receivable (139.8) (100.6)
Inventories 6.2 6.3
Accounts payable and accrued expenses 45.0 74.8
Deferred revenue 8.4 (7.5)
Other assets and liabilities (40.0) (50.8)
Net cash provided by operating activities 213.2 183.5
Investing activities    
Purchases of property, plant and equipment (138.6) (105.7)
Proceeds from sale of property, plant and equipment 1.5 0.6
Proceeds from government grants 0.0 2.8
Purchase buyouts of leased equipment (8.4) 0.0
Final distribution of Reserve Yield Plus Fund 0.0 1.0
Proceeds from sale of business, net 5.9 0.0
Acquisition of business, net of cash acquired (895.5) 0.0
Net cash used in investing activities (1,035.1) (101.3)
Financing activities    
Payments of long-term debt and capital lease obligations (1,937.5) (3.8)
Proceeds from issuance of long-term debt 2,857.9 29.6
Debt issuance costs (90.5) 0.0
Purchase of treasury stock (6.9) (5.0)
Employee stock option exercises 0.9 0.1
Net cash provided by financing activities 823.9 20.9
Effect of exchange rate changes on cash 7.4 2.8
Net increase in cash and cash equivalents 9.4 105.9
Cash and cash equivalents at beginning of period 481.2 282.5
Cash and cash equivalents at end of period 490.6 388.4
Supplemental cash flow information    
Interest paid 79.8 43.9
Income taxes paid, net of refunds 16.7 38.1
Non-cash investing activities: AAM common shares issued for acquisition of MPG $ 576.7 $ 0.0