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Condensed Consolidated Statements of Operations - USD ($)
$ in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2019
Sep. 30, 2018
Sep. 30, 2019
Sep. 30, 2018
Net sales $ 1,677.4 $ 1,817.0 $ 5,100.9 $ 5,576.3
Cost of goods sold 1,428.7 1,549.6 4,381.7 4,661.2
Gross profit 248.7 267.4 719.2 915.1
Selling, general and administrative expenses 92.7 96.3 274.7 288.6
Amortization of intangible assets 23.7 24.8 73.6 74.5
Impairment charge 225.0 0.0 225.0 0.0
Restructuring and acquisition-related costs 11.7 11.7 36.0 66.8
Gain on sale of business 0.0 0.0 0.0 (15.5)
Operating income (loss) (104.4) 134.6 109.9 500.7
Interest expense (54.3) (54.9) (163.9) (162.5)
Investment income 2.2 0.6 3.4 1.6
Debt refinancing and redemption costs (5.1) 0.0 (7.5) (14.6)
Gain on settlement of capital lease 0.0 0.0 0.0 15.6
Other expense, net (2.9) (4.8) (9.0) (4.6)
Income (loss) before income taxes (164.5) 75.5 (67.1) 336.2
Income tax expense (benefit) (40.4) 11.5 (37.4) 31.4
Net income (loss) (124.1) 64.0 (29.7) 304.8
Net income attributable to noncontrolling interests (0.1) (0.2) (0.4) (0.5)
Net income (loss) attributable to AAM $ (124.2) $ 63.8 $ (30.1) $ 304.3
Basic earnings (loss) per share $ (1.10) $ 0.55 $ (0.27) $ 2.65
Diluted earnings (loss) per share $ (1.10) $ 0.55 $ (0.27) $ 2.63