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Long-Term Debt (Notes) | 3 Months Ended
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Mar. 31, 2025
Debt Disclosure [Abstract] |
Long-term Debt [Text Block] | 5. LONG-TERM DEBT Long-term debt consists of the following:
|  | March 31, 2025 |  | December 31, 2024
|  | (in millions)
Revolving Credit Facility |  | $ | — |  |  | $ | — |
Term Loan A Facility |  | 484.3 |  |  | 484.3 |
Term Loan B Facility |  | 648.0 |  |  | 648.0 |
6.875% Notes due 2028 |  | 400.0 |  |  | 400.0 |
6.50% Notes due 2027 |  | 500.0 |  |  | 500.0 |
5.00% Notes due 2029 |  | 600.0 |  |  | 600.0 |
Non-U.S. credit facilities and other |  | 23.8 |  |  | 27.6 |
Total debt |  | 2,656.1 |  |  | 2,659.9 |
Less: Current portion of long-term debt |  | 10.5 |  |  | 47.9 |
Long-term debt |  | 2,645.6 |  |  | 2,612.0 |
Less: Debt issuance costs |  | 36.6 |  |  | 35.1 |
Long-term debt, net |  | $ | 2,609.0 |  |  | $ | 2,576.9 |
Senior Secured Credit Facilities American Axle & Manufacturing Holdings, Inc. (Holdings) and American Axle & Manufacturing, Inc. (AAM, Inc.) are parties to an amended and restated credit agreement that was entered into on March 11, 2022 and has been subsequently amended (as so amended, the Amended and Restated Credit Agreement) which provides for a term loan A facility (the Term Loan A Facility), term loan B facility (the Term Loan B Facility) and a multi-currency revolving credit facility (the Revolving Credit Facility and together with the Term Loan A Facility and the Term Loan B Facility, the Senior Secured Credit Facilities). On February 24, 2025, Holdings and AAM, Inc. entered into the Second Amendment to the Amended and Restated Credit Facility and the Incremental Facility Agreement (the Second Amendment). The Second Amendment, among other things, a) increased the maximum under the Revolving Credit Facility from $925.0 million to $1,495.0 million, effective upon closing of the Business Combination, b) provided for an $843.0 million incremental Term Loan B Facility in connection with the Business Combination, and c) extended the maturity of the Revolving Credit Facility and Term Loan A Facility for five years from the date of the Second Amendment, resetting for another five years upon the closing of the Business Combination. In connection with the Second Amendment, we paid $11.6 million of debt issuance costs, and expensed $3.3 million of fees and a portion of the unamortized debt issuance costs that we had been amortizing over the expected life of these borrowings. The maturity date of the Term Loan B Facility in the fourth quarter of 2029 remains unchanged. On January 29, 2025, in connection with the announcement of the Business Combination, Holdings and AAM, Inc. entered into a credit agreement (the Backstop Credit Agreement), the First Lien Bridge Credit Agreement (the First Lien Bridge Facility), and a Second Lien Bridge Credit Agreement (the Second Lien Bridge Facility and together with the First Lien Bridge Facility, the Bridge Facilities). Following Holdings and AAM, Inc.'s entry into the Second Amendment, the Backstop Credit Agreement was terminated. Additionally, in connection with entry into the Second Amendment on February 24, 2025, Holdings and AAM, Inc. entered into a) an Amended and Restated First Lien Bridge Credit Agreement which will provide AAM with a $843.0 million interim loan facility in connection with the Business Combination (the Amended and Restated First Lien Bridge Credit Agreement), and b) an Amended and Restated Second Lien Bridge Credit Agreement which will provide AAM with a $500.0 million interim loan facility in connection with the Business Combination (the Amended and Restated Second Lien Bridge Credit Agreement, and together with the Amended and Restated First Lien Bridge Credit Agreement, the Amended and Restated Bridge Credit Agreements). At March 31, 2025, we had $897.1 million available under the Revolving Credit Facility. This availability reflects a reduction of $27.9 million primarily for standby letters of credit issued against the facility. As of March 31, 2025, we have prepaid $11.8 million of the outstanding principal on our Term Loan B Facility. These payments satisfy our obligation for principal payments under the Term Loan B Facility through the end of 2026. The Senior Secured Credit Facilities provide back-up liquidity for our non-U.S. credit facilities. We intend to use the availability of long-term financing under the Senior Secured Credit Facilities to refinance any current maturities related to such debt agreements that are not otherwise refinanced on a long-term basis in their local markets, except where otherwise reclassified to Current portion of long-term debt on our Condensed Consolidated Balance Sheet. Repurchase of 6.25% Notes Due 2026 In the three months ended March 31, 2024, we completed an open market repurchase of our 6.25% Notes due 2026 of $1.7 million. Repayment of Tekfor Group Indebtedness In the three months ended March 31, 2024, we repaid $6.6 million of outstanding indebtedness that we assumed upon our acquisition of Tekfor in June 2022. Non-U.S. credit facilities and Other We utilize local currency credit facilities to finance the operations of certain non-U.S. subsidiaries. At March 31, 2025, $23.8 million was outstanding under our non-U.S. credit facilities, as compared to $27.6 million at December 31, 2024. At March 31, 2025, an additional $75.6 million was available under our non-U.S. credit facilities. Weighted-Average Interest Rate The weighted-average interest rate of our long-term debt outstanding was 6.4% at March 31, 2025 and 6.5% at December 31, 2024.

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