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Segment and Geographic Information
 12 Months Ended
Dec. 31, 2024
Segments, Geographical Areas [Abstract]  
Segment Reporting Disclosure [Text Block]
17. SEGMENT AND GEOGRAPHIC INFORMATION

Our business is organized into Driveline and Metal Forming segments, with each representing a reportable segment under ASC 280 - Segment Reporting. The results of each segment are regularly reviewed by the chief operating decision maker (CODM) to assess the performance of the segment and make decisions regarding the allocation of resources to the segments. Our CODM is our Chief Executive Officer.

Our product offerings by segment are as follows:

•Driveline products consist primarily of front and rear axles, driveshafts, differential assemblies, clutch modules, balance shaft systems, disconnecting driveline technology, and electric and hybrid driveline products and systems for light trucks, SUVs, CUVs, passenger cars and commercial vehicles; and
•Metal Forming products consist primarily of engine, transmission, driveline and safety-critical components for traditional internal combustion engine and electric vehicle architectures including light vehicles, commercial vehicles and off-highway vehicles, as well as products for industrial markets.

We use Segment Adjusted EBITDA as the measure of earnings to assess the performance of each segment and determine the resources to be allocated to the segments. We define EBITDA to be earnings before interest expense, income taxes, depreciation and amortization. Segment Adjusted EBITDA is defined as EBITDA for our reportable segments excluding the impact of restructuring and acquisition-related costs, debt refinancing and redemption costs, gains or losses on equity securities, pension curtailment and settlement charges, impairment charges and non-recurring items.

Year Ended December 31, 2024
DrivelineMetal FormingCorporate and EliminationsTotal
(in millions)
Sales$4,253.3 $2,414.3 $— $6,667.6 
Less: Intersegment sales1.4 541.3 — 542.7 
Net external sales$4,251.9 $1,873.0 $— $6,124.9 
Cost of goods sold (a)3,392.8 1,623.8 — 5,016.6 
Selling, general and administrative expenses (b)287.9 79.3 — 367.2 
Other segment expense (income), net (c)(7.0)(1.1)— (8.1)
Segment adjusted EBITDA$578.2 $171.0 $— $749.2 
Depreciation and amortization$246.5 $223.2 $— $469.7 
Capital expenditures$140.3 $103.5 $4.2 $248.0 
Total assets$2,420.6 $1,636.8 $1,002.5 $5,059.9 
(a) Cost of goods sold excludes depreciation and amortization, which was $210.2 million for Driveline and $156.7 million for Metal Forming for the year ended December 31, 2024.
(b) Selling, general and administrative expenses excludes depreciation, which was $16.4 million for Driveline and $3.5 million for Metal Forming for the year ended December 31, 2024.
(c) Other segment expense (income), net primarily consists of the net impact of interest income and foreign exchange gains and losses.
Year Ended December 31, 2023
DrivelineMetal FormingCorporate and EliminationsTotal
Sales$4,176.7 $2,454.3 $— $6,631.0 
Less: Intersegment sales0.2 551.3 — 551.5 
Net external sales$4,176.5 $1,903.0 $— $6,079.5 
Cost of goods sold (a)3,396.1 1,676.9 — 5,073.0 
Selling, general and administrative expenses (b)263.2 84.1 — 347.3 
Other segment expense (income), net (c)(26.4)(7.7)— (34.1)
Segment adjusted EBITDA$543.6 $149.7 $— $693.3 
Depreciation and amortization$260.3 $226.9 $— $487.2 
Capital expenditures$105.9 $80.1 $8.6 $194.6 
Total assets$2,554.3 $1,788.7 $1,013.3 $5,356.3 
(a) Cost of goods sold excludes depreciation and amortization, which was $222.7 million for Driveline and $159.5 million for Metal Forming for the year ended December 31, 2023.
(b) Selling, general and administrative expenses excludes depreciation, which was $16.0 million for Driveline and $3.6 million for Metal Forming for the year ended December 31, 2023.
(c) Other segment expense (income), net primarily consists of the net impact of interest income and foreign exchange gains and losses.

Year Ended December 31, 2022
DrivelineMetal FormingCorporate and EliminationsTotal
Sales$4,063.5 $2,280.7 $— $6,344.2 
Less: Intersegment sales— 541.8 — 541.8 
Net external sales$4,063.5 $1,738.9 $— $5,802.4 
Cost of goods sold (a)3,305.0 1,404.4 — 4,709.4 
Selling, general and administrative expenses (b)256.4 70.2 — 326.6 
Other segment expense (income), net (c)(8.8)27.9 — 19.1 
Segment adjusted EBITDA$510.9 $236.4 $— $747.3 
Depreciation and amortization$272.7 $219.4 $— $492.1 
Capital expenditures$103.3 $62.9 $5.2 $171.4 
Total assets$2,542.0 $1,900.3 $1,027.1 $5,469.4 
(a) Cost of goods sold excludes depreciation and amortization, which was $232.0 million for Driveline and $156.1 million for Metal Forming for the year ended December 31, 2022.
(b) Selling, general and administrative expenses excludes depreciation, which was $14.8 million for Driveline and $3.7 million for Metal Forming for the year ended December 31, 2022.
(c) Other segment expense (income), net primarily consists of the net impact of interest income and foreign exchange gains and losses, as well as amounts related to the Malvern Fire and Tekfor acquisition.

Assets included in the Corporate and Eliminations column of the tables above represent AAM corporate assets, as well as eliminations of intercompany assets.
The following table represents a reconciliation of Segment Adjusted EBITDA to consolidated income (loss) before income taxes for the years ended December 31, 2024, 2023 and 2022:
Year Ended December 31,
202420232022
(in millions)
Segment adjusted EBITDA$749.2 $693.3 $747.3 
Interest expense(186.0)(201.7)(174.5)
Depreciation and amortization(469.7)(487.2)(492.1)
Impairment charge(12.0)— — 
Restructuring and acquisition-related costs(18.0)(25.2)(30.2)
Pension curtailment and settlement charges— (1.3)— 
Loss on equity securities(0.1)(1.1)(25.5)
Debt refinancing and redemption costs(0.6)(1.3)(6.4)
Malvern Fire insurance recoveries, net of charges— — 39.1 
Acquisition-related fair value inventory adjustment— — (5.0)
Gain on bargain purchase of business — — 13.6 
Income (loss) before income taxes $62.8 $(24.5)$66.3 

Financial information relating to our operations by geographic area is presented in the following table. Net sales are attributed to countries based upon location of production. Long-lived assets exclude deferred income taxes.
December 31,
202420232022
(in millions)
Net sales
United States$2,195.5 $2,163.5 $2,148.0 
Mexico2,249.3 2,273.5 2,293.2 
South America171.5 184.4 137.4 
China328.8 271.6 280.0 
All other Asia283.0 273.1 213.3 
Europe896.8 913.4 730.5 
Total net sales$6,124.9 $6,079.5 $5,802.4 
Long-lived assets
United States$1,621.8 $1,694.3 $1,778.9 
Mexico739.8 778.4 821.3 
South America59.8 75.8 71.2 
China92.1 110.9 130.1 
All other Asia50.2 79.2 80.5 
Europe381.9 441.7 475.0 
Total long-lived assets$2,945.6 $3,180.3 $3,357.0