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Condensed Consolidated Statements of Income - USD ($)
$ in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2018
Sep. 30, 2017
Sep. 30, 2018
Sep. 30, 2017
Net sales $ 1,817.0 $ 1,724.4 $ 5,576.3 $ 4,532.1
Cost of goods sold 1,549.6 1,426.7 4,661.2 3,707.3
Gross profit 267.4 297.7 915.1 824.8
Selling, general and administrative expenses 96.3 102.3 288.6 289.1
Amortization of intangible assets 24.8 24.4 74.5 50.8
Restructuring and acquisition-related costs 11.7 22.8 66.8 90.5
Gain on sale of business 0.0 0.0 (15.5) 0.0
Operating income 134.6 148.2 500.7 394.4
Interest expense (54.9) (57.5) (162.5) (139.9)
Investment income 0.6 0.8 1.6 2.2
Debt refinancing and redemption costs 0.0 0.0 (14.6) (2.7)
Gain on settlement of capital lease 0.0 0.0 15.6 0.0
Other income (expense), net (4.8) 0.5 (4.6) (7.4)
Income before income taxes 75.5 92.0 336.2 246.6
Income tax expense 11.5 5.7 31.4 15.6
Net income 64.0 86.3 304.8 231.0
Net income attributable to noncontrolling interests (0.2) (0.1) (0.5) (0.2)
Net income attributable to AAM $ 63.8 $ 86.2 $ 304.3 $ 230.8
Basic earnings per share $ 0.55 $ 0.76 $ 2.65 $ 2.28
Diluted earnings per share $ 0.55 $ 0.75 $ 2.63 $ 2.27