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Earnings Per Share (EPS)
 9 Months Ended
Sep. 30, 2019
Earnings Per Share [Abstract]  
Earnings Per Share [Text Block]
13. EARNINGS (LOSS) PER SHARE (EPS)

We present EPS using the two-class method. This method allocates undistributed earnings between common shares and non-vested share based payment awards that entitle the holder to non-forfeitable dividend rights. Our participating securities include non-vested restricted stock units.

The following table sets forth the computation of our basic and diluted EPS available to shareholders of common stock (excluding participating securities):

 
 
Three Months Ended
 
Nine Months Ended
 
 
September 30,
 
September 30,
 
 
2019
 
2018
 
2019
 
2018
 
 
(in millions, except per share data)
Numerator
 
 

 
 
 
 
 
 
Net income (loss) attributable to AAM
 
$
(124.2
)
 
$
63.8

 
$
(30.1
)
 
$
304.3

    Less: Net income attributable to participating securities
 
—

 
(2.0
)
 
—

 
(8.9
)
Net income (loss) attributable to common shareholders - Basic and Dilutive
 
$
(124.2
)
 
$
61.8

 
$
(30.1
)
 
$
295.4

 
 
 
 
 
 
 
 
 
Denominators
 
 

 
 

 
 
 
 
Basic common shares outstanding -
 
 

 
 

 
 
 
 
   Weighted-average shares outstanding
 
115.8

 
115.3

 
115.6

 
115.0

        Less: Participating securities
 
(3.3
)
 
(3.6
)
 
(3.3
)
 
(3.4
)
    Weighted-average common shares outstanding
 
112.5

 
111.7

 
112.3

 
111.6

 
 
 
 
 
 
 
 
 
Effect of dilutive securities -
 
 

 
 

 
 
 
 
   Dilutive stock-based compensation
 
—

 
1.0

 
—

 
0.7

 
 


 


 
 
 
 
Diluted shares outstanding -
 
 

 
 

 
 
 
 
   Adjusted weighted-average shares after assumed conversions
 
112.5

 
112.7

 
112.3

 
112.3

 
 
 

 
 

 
 
 
 
Basic EPS
 
$
(1.10
)
 
$
0.55

 
$
(0.27
)
 
$
2.65

 
 
 

 
 

 
 
 
 
Diluted EPS
 
$
(1.10
)
 
$
0.55

 
$
(0.27
)
 
$
2.63



Basic and diluted loss per share are the same for the three and nine months ended September 30, 2019 because the effect of dilutive performance shares of 0.3 million and 0.4 million, respectively, would have been antidilutive.