Unaudited Quarterly Financial Data

12 Months Ended

Dec. 31, 2020

Quarterly Financial Information Disclosure [Abstract]

Quarterly Financial Information [Text Block]

18. UNAUDITED QUARTERLY FINANCIAL DATA


	Three Months Ended,
	March 31			June 30			September 30			December 31
	(in millions, except per share data)
2020
Net sales	$	1,343.5		$	515.3	(3)	$	1,414.1		$	1,437.9
Gross profit	195.3			(98.9)		(3)	249.8			236.5
Net income (loss)	(501.2)		(2)	(213.2)		(3)	117.2			36.1
Net income (loss) attributable to AAM	(501.3)		(2)	(213.2)		(3)	117.2			36.0
Basic EPS (1)	$	(4.45)	(2)	$	(1.88)	(3)	$	0.99		$	0.30
Diluted EPS (1)	$	(4.45)	(2)	$	(1.88)	(3)	$	0.99		$	0.30

2019
Net sales	$	1,719.2		$	1,704.3		$	1,677.4		$	1,430.0
Gross profit	222.2			248.3			248.7			183.4
Net income (loss)	41.7			52.7			(124.1)		(4)	(454.4)		(5)
Net income (loss) attributable to AAM	41.6			52.5			(124.2)		(4)	(454.4)		(5)
Basic EPS (1)	$	0.36		$	0.45		$	(1.10)	(4)	$	(4.04)	(5)
Diluted EPS (1)	$	0.36		$	0.45		$	(1.10)	(4)	$	(4.04)	(5)

(1) Full year basic and diluted EPS will not necessarily agree to the sum of the four quarters because each quarter is a separate calculation.

(2) In the first quarter of 2020, we recorded a goodwill impairment charge of $510 million that was not subject to tax effect as a result of the significant decline in automotive production volumes due to the impact of COVID-19.

(3) Many of our plant locations temporarily suspended production or experienced a significant reduction in production volumes during the second quarter of 2020 as a result of the impact of COVID-19.

(4) In the third quarter of 2019, we recorded an impairment charge of approximately $178 million, net of tax, to reduce the carrying value of our U.S. Casting operations to fair value less cost to sell upon reclassification of the assets and liabilities to held-for-sale.

(5) In the fourth quarter of 2019, we recorded a goodwill impairment charge of $440 million that was not subject to tax effect associated with the annual goodwill impairment test for our Metal Forming reporting unit. We also recorded a loss on the Casting Sale of approximately $17 million, net of tax, recognized a gain on bargain purchase of approximately $10.8 million, which was not subject to tax effect, associated with the acquisition of Mitec, and recognized a loss of approximately $8 million, net of tax, related to pension settlements.