XML 18 R7.htm IDEA: XBRL DOCUMENT v3.10.0.1
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Millions
6 Months Ended
Jun. 30, 2018
Jun. 30, 2017
Net income $ 240.8 $ 144.7
Adjustments to reconcile net income to net cash provided by operating activities    
Depreciation and amortization 258.0 180.8
Impairment of long-lived assets 23.9  
Deferred income taxes 38.0 (24.6)
Stock-based compensation 13.7 30.9
Pensions and other postretirement benefits, net of contributions (0.6) (0.5)
Gain on sale of business (15.5) 0.0
Loss (Gain) on disposal of property, plant and equipment, net (4.9) 1.1
Debt refinancing and redemption costs and (gain) on settlement of capital lease (0.8) 2.7
Changes in operating assets and liabilities, net of amounts acquired or disposed    
Accounts receivable (225.7) (139.8)
Inventories (47.4) 6.2
Accounts payable and accrued expenses 83.7 45.0
Deferred revenue 8.1 8.4
Other assets and liabilities (81.9) (41.7)
Net cash provided by operating activities 289.4 213.2
Investing activities    
Purchases of property, plant and equipment (273.0) (138.6)
Proceeds from sale of property, plant and equipment 0.9 1.5
Purchase buyouts of leased equipment (0.5) (8.4)
Proceeds from sale of business, net 47.1 5.9
Acquisition of business, net of cash acquired (1.3) (895.5)
Net cash used in investing activities (226.8) (1,035.1)
Financing activities    
Payments of long-term debt and capital lease obligations (528.7) (1,937.5)
Proceeds from issuance of long-term debt 461.9 2,857.9
Debt issuance costs (6.8) (90.5)
Purchase of noncontrolling interest (2.2) 0.0
Purchase of treasury stock (3.6) (6.9)
Employee stock option exercises 0.0 0.9
Net cash provided by (used in) financing activities (79.4) 823.9
Effect of exchange rate changes on cash (4.3) 7.4
Net increase (decrease) in cash, cash equivalents and restricted cash (21.1) 9.4
Cash, cash equivalents and restricted cash at beginning of period 376.8 481.2
Cash, cash equivalents and restricted cash at end of period 355.7 490.6
Supplemental cash flow information    
Interest paid 104.4 79.8
Income taxes paid, net of refunds 19.6 16.7
Non-cash investing activities: AAM common shares issued for acquisition of MPG $ 0.0 $ 576.7