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Condensed Consolidated Statements of Income - USD ($)
$ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2018
Jun. 30, 2017
Jun. 30, 2018
Jun. 30, 2017
Net sales $ 1,900.9 $ 1,757.8 $ 3,759.3 $ 2,807.7
Cost of goods sold 1,569.5 1,441.4 3,111.6 2,280.6
Gross profit 331.4 316.4 647.7 527.1
Selling, general and administrative expenses 95.0 105.6 192.3 186.8
Amortization of intangible assets 24.8 24.8 49.7 26.4
Restructuring and acquisition-related costs 36.8 51.7 55.1 67.7
Gain on sale of business (15.5) 0.0 (15.5) 0.0
Operating income 190.3 134.3 366.1 246.2
Interest expense (54.4) (56.9) (107.6) (82.4)
Investment income 0.5 0.8 1.0 1.4
Debt refinancing and redemption costs (4.3) (2.7) (14.6) (2.7)
Gain on settlement of capital lease 15.6 0.0 15.6 0.0
Other income (expense), net 5.6 (6.8) 0.2 (7.9)
Income before income taxes 153.3 68.7 260.7 154.6
Income tax expense 2.0 2.4 19.9 9.9
Net income 151.3 66.3 240.8 144.7
Net income attributable to noncontrolling interests (0.2) (0.1) (0.3) (0.1)
Net income attributable to AAM $ 151.1 $ 66.2 $ 240.5 $ 144.6
Basic earnings per share $ 1.31 $ 0.59 $ 2.09 $ 1.52
Diluted earnings per share $ 1.30 $ 0.59 $ 2.08 $ 1.51