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Long-Term Debt | 3 Months Ended
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Mar. 31, 2019
Debt Disclosure [Abstract] |
Long-term Debt [Text Block] |
6. | LONG-TERM DEBT
Long-term debt consists of the following:
|  | March 31, 2019 |  | December 31, 2018
|  | (in millions)
Revolving Credit Facility |  | $ | — |  |  | $ | — |
Term Loan A Facility |  | 81.3 |  |  | 83.8 |
Term Loan B Facility |  | 1,507.4 |  |  | 1,511.2 |
7.75% Notes due 2019 |  | 100.0 |  |  | 100.0 |
6.625% Notes due 2022 |  | 450.0 |  |  | 450.0 |
6.50% Notes due 2027 |  | 500.0 |  |  | 500.0 |
6.25% Notes due 2026 |  | 400.0 |  |  | 400.0 |
6.25% Notes due 2025 |  | 700.0 |  |  | 700.0 |
Foreign credit facilities |  | 123.0 |  |  | 127.1 |
Capital lease obligations |  | — |  |  | 3.4 |
Total debt |  | 3,861.7 |  |  | 3,875.5 |
Less: Current portion of long-term debt |  | 118.6 |  |  | 121.6 |
Long-term debt |  | 3,743.1 |  |  | 3,753.9 |
Less: Debt issuance costs |  | 64.2 |  |  | 67.1 |
Long-term debt, net |  | $ | 3,678.9 |  |  | $ | 3,686.8 |
Senior Secured Credit Facilities In 2017, American Axle & Manufacturing Holdings, Inc. (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. The Credit Agreement includes 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 $932 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, 2019 we have prepaid $10.0 million of the outstanding principal on our Term Loan A Facility and $15.5 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 through the first quarter of 2020. As such there are no amounts related to the Term Loan A Facility and Term Loan B Facility presented in the Current portion of long-term debt line item in our Condensed Consolidated Balance Sheet as of March 31, 2019. At March 31, 2019, we had $893.8 million available under the Revolving Credit Facility. This availability reflects a reduction of $38.2 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. Foreign credit facilities We utilize local currency credit facilities to finance the operations of certain foreign subsidiaries. At March 31, 2019, $123.0 million was outstanding under our foreign credit facilities, as compared to $127.1 million at December 31, 2018. At March 31, 2019, an additional $85.5 million was available under our foreign credit facilities. The weighted-average interest rate of our long-term debt outstanding was 5.9% at March 31, 2019 and at December 31, 2018. Capital lease obligations Upon our adoption of ASC 842 Leases, our capital (finance) lease obligations are now presented in Accrued expenses and other and Postretirement benefits and other long-term liabilities on our Condensed Consolidated Balance Sheet. See Note 2 - Leasing for additional detail regarding our adoption of ASC 842. Redemption of 7.75% Notes due 2019 In April 2019, we issued an irrevocable notice to the holders of our 7.75% Notes due 2019 to voluntarily redeem our 7.75% Notes due 2019 in the second quarter of 2019. This will result in a principal payment of $100 million and $0.3 million in accrued interest. We will also expense approximately $0.1 million for the write-off of the unamortized debt issuance costs that we had been amortizing over the expected life of the borrowing, and approximately $2.2 million for an early redemption premium.

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