Earnings Per Share (Notes)

3 Months Ended

Mar. 31, 2021

11. 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
	March 31,
		2021		2020
		(in millions, except per share data)
Numerator
Net income (loss) attributable to AAM		$	38.6	$	(501.3)
Less: Net income attributable to participating securities		(1.6)		—


Net income (loss) attributable to common shareholders - Basic and Dilutive		$	37.0	$	(501.3)

Denominators
Basic common shares outstanding -
Weighted-average shares outstanding		118.3		116.4
Less: Participating securities		(4.8)		(3.7)
Weighted-average common shares outstanding		113.5		112.7

Effect of dilutive securities -
Dilutive stock-based compensation		—		—

Diluted shares outstanding -
Adjusted weighted-average shares after assumed conversions		113.5		112.7

Basic EPS		$	0.33	$	(4.45)

Diluted EPS		$	0.33	$	(4.45)