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Long-Term Debt | 3 Months Ended
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Mar. 31, 2018
Debt Disclosure [Abstract] |
Long-term Debt [Text Block] |
7. | LONG-TERM DEBT
Long-term debt consists of the following:
|  | March 31, 2018 |  | December 31, 2017
|  | (in millions)
Revolving Credit Facility |  | $ | — |  |  | $ | — |
Term Loan A Facility |  | 92.5 |  |  | 92.5 |
Term Loan B Facility |  | 1,526.8 |  |  | 1,526.8 |
7.75% Notes due 2019 |  | 200.0 |  |  | 200.0 |
6.625% Notes due 2022 |  | 550.0 |  |  | 550.0 |
6.50% Notes due 2027 |  | 500.0 |  |  | 500.0 |
6.25% Notes due 2026 |  | 400.0 |  |  | — |
6.25% Notes due 2025 |  | 700.0 |  |  | 700.0 |
6.25% Notes due 2021 |  | 16.9 |  |  | 400.0 |
Foreign credit facilities |  | 81.2 |  |  | 53.2 |
Capital lease obligations |  | 27.5 |  |  | 28.3 |
Total debt |  | 4,094.9 |  |  | 4,050.8 |
Less: Current portion of long-term debt |  | 31.8 |  |  | 5.9 |
Long-term debt |  | 4,063.1 |  |  | 4,044.9 |
Less: Debt issuance costs |  | 76.9 |  |  | 75.6 |
Long-term debt, net |  | $ | 3,986.2 |  |  | $ | 3,969.3 |
Senior Secured Credit Facilities In 2017, Holdings and American Axle & Manufacturing, Inc. (AAM, Inc.) entered into a credit agreement (the Credit Agreement). In connection with the Credit Agreement, Holdings, AAM, Inc. and certain of their restricted subsidiaries entered into a Collateral Agreement and Guarantee Agreement with the financial institutions party thereto as collateral agent and administrative agent. Pursuant to the Credit Agreement, the lenders agreed to provide a $100.0 million term loan A facility (the Term Loan A Facility), a $1.55 billion term loan B facility (the Term Loan B Facility) and a $900 million multi-currency revolving credit facility (the Revolving Credit Facility, and together with the Term Loan A Facility and the Term Loan B Facility, the Senior Secured Credit Facilities). The proceeds of the Revolving Credit Facility are used for general corporate purposes. As of March 31, 2018 we have prepaid $3.8 million of the outstanding principal on our Term Loan A Facility and $11.6 million of the outstanding principal on our Term Loan B Facility. These payments satisfy our obligation for principal payments under the Term Loan A Facility and Term Loan B Facility for the next three quarters. As a result, approximately $5 million related to the Term Loan A Facility and Term Loan B Facility is presented in the Current portion of long-term debt line item in our Condensed Consolidated Balance Sheet as of March 31, 2018. At March 31, 2018, we had $865.3 million available under the Revolving Credit Facility. This availability reflects a reduction of $34.7 million for standby letters of credit issued against the facility. The Senior Secured Credit Facilities provide back-up liquidity for our foreign credit facilities. We intend to use the availability of long-term financing under the Senior Secured Credit Facilities to refinance any current maturities related to such debt agreements that are not otherwise refinanced on a long-term basis in their local markets, except where otherwise reclassified to Current portion of long-term debt on our Condensed Consolidated Balance Sheet. 6.25% Notes due 2026 In March 2018, we issued $400.0 million in aggregate principal amount of 6.25% senior notes due 2026 (the 6.25% Notes due 2026). Proceeds from the 6.25% Notes due 2026 were used primarily to fund the tender offer for the 6.25% senior notes due 2021 (the 6.25% Notes due 2021) described below. We paid debt issuance costs of $6.6 million in the first three months of 2018 related to the 6.25% Notes due 2026. Tender Offer of 6.25% Notes due 2021 Also in March 2018, we made a tender offer for our 6.25% Notes due 2021. Under this tender offer, we retired $383.1 million of the 6.25% Notes due 2021. During the first quarter of 2018, we expensed $2.5 million for the write-off of the remaining unamortized debt issuance costs that we had been amortizing over the expected life of the borrowing and $7.8 million in tender premiums. We redeemed the remaining $16.9 million of the 6.25% Notes due 2021 in April 2018. Foreign credit facilities We utilize local currency credit facilities to finance the operations of certain foreign subsidiaries. At March 31, 2018, $81.2 million was outstanding under our foreign credit facilities and an additional $135.8 million was available. The weighted-average interest rate of our long-term debt outstanding was 5.8% at March 31, 2018 and 5.7% at December 31, 2017.

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- Definition The entire disclosure for long-term debt. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -URI http://asc.fasb.org/topic&trid=2208564 + Details
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