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Long-Term Debt | 9 Months Ended
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Sep. 30, 2019
Debt Disclosure [Abstract] |
Long-term Debt [Text Block] | 7. LONG-TERM DEBT Long-term debt consists of the following:
|  | September 30, 2019 |  | December 31, 2018
|  | (in millions)
Revolving Credit Facility |  | $ | — |  |  | $ | — |
Term Loan A Facility |  | 340.0 |  |  | 83.8 |
Term Loan B Facility |  | 1,248.6 |  |  | 1,511.2 |
7.75% Notes due 2019 |  | — |  |  | 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 and other |  | 113.2 |  |  | 127.1 |
Capital lease obligations |  | — |  |  | 3.4 |
Total debt |  | 3,751.8 |  |  | 3,875.5 |
Less: Current portion of long-term debt |  | 23.8 |  |  | 121.6 |
Long-term debt |  | 3,728.0 |  |  | 3,753.9 |
Less: Debt issuance costs |  | 54.7 |  |  | 67.1 |
Long-term debt, net |  | $ | 3,673.3 |  |  | $ | 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. The Credit Agreement included 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). In July 2019, Holdings, AAM, Inc., and certain subsidiaries of Holdings entered into the First Amendment (First Amendment) to the Credit Agreement (as amended by the First Amendment, the Amended Credit Agreement). The First Amendment, among other things, established $340 million in incremental term loan A commitments under the Amended Credit Agreement with a maturity date of July 29, 2024 (Term Loan A Facility due 2024), extended the maturity date of the Revolving Credit Facility from April 6, 2022 to July 29, 2024 and modified the applicable margin with respect to interest rates under the Term Loan A Facility due 2024 and interest rates and commitment fees under the Revolving Credit Facility. The applicable margin and the maturity date for the Term Loan B Facility remain unchanged. The proceeds of $340 million were used to repay all of the outstanding loans under the existing Term Loan A Facility and a portion of the outstanding Term Loan B Facility, resulting in no additional indebtedness. In the third quarter of 2019, we expensed $5.1 million for the write-off of the unamortized debt issuance costs related to the existing Term Loan A Facility and a portion of the unamortized debt issuance costs related to our Term Loan B Facility that we had been amortizing over the expected life of the borrowings. At September 30, 2019, we had $890.8 million available under the Revolving Credit Facility. This availability reflects a reduction of $34.2 million for standby letters of credit issued against the facility. The proceeds of the Revolving Credit Facility are used for general corporate purposes. 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 September 30, 2019, $107.8 million was outstanding under our foreign credit facilities, as compared to $127.1 million at December 31, 2018. At September 30, 2019, an additional $93.7 million was available under our foreign credit facilities. Weighted-Average Interest Rate The weighted-average interest rate of our long-term debt outstanding was 5.8% at September 30, 2019 and 5.9% 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 3 - Leasing for additional detail regarding our adoption of ASC 842. Redemption of 7.75% Notes due 2019 In the second quarter of 2019, we voluntarily redeemed the remaining balance outstanding under our 7.75% Notes due 2019. This resulted in a principal payment of $100 million and $0.3 million in accrued interest. We also expensed 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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