XML 48 R37.htm IDEA: XBRL DOCUMENT
v3.25.3

Segment Reporting (Tables) | 9 Months Ended
--- | ---
Sep. 30, 2025
Segment Reporting [Abstract] |
Schedule of Segment Reporting Information, by Segment [Table Text Block] | The following tables represent information by reportable segment for the three and nine months ended September 30, 2025 and 2024 (in millions):
|  | Three Months Ended September 30, 2025
|  | Driveline |  | Metal Forming |  |  |  | Corporate and Eliminations |  | Total
Sales |  | $ | 1,051.1 |  |  | $ | 595.0 |  |  |  |  | $ | — |  |  | $ | 1,646.1 |
Less: Intersegment sales |  | 0.5 |  |  | 140.3 |  |  |  |  | — |  |  | 140.8 |
Net external sales |  | $ | 1,050.6 |  |  | $ | 454.7 |  |  |  |  | $ | — |  |  | $ | 1,505.3 |
Cost of goods sold (a) |  | 830.2 |  |  | 395.5 |  |  |  |  | — |  |  | 1,225.7 |
Selling, general and administrative expenses (b) |  | 71.4 |  |  | 22.2 |  |  |  |  | — |  |  | 93.6 |
Other segment expense (income), net (c) |  | (7.8) |  |  | (0.9) |  |  |  |  | — |  |  | (8.7) |
Segment Adjusted EBITDA |  | $ | 156.8 |  |  | $ | 37.9 |  |  |  |  | $ | — |  |  | $ | 194.7 |
Depreciation and amortization |  | $ | 60.8 |  |  | $ | 55.5 |  |  |  |  | $ | — |  |  | $ | 116.3 |
Capital expenditures |  | $ | 43.4 |  |  | $ | 20.2 |  |  |  |  | $ | 0.5 |  |  | $ | 64.1 |
(a) Cost of goods sold excludes depreciation and amortization, which was $51.9 million for Driveline and $38.7 million for Metal Forming for the three months ended September 30, 2025.
(b) Selling, general and administrative expenses excludes depreciation, which was $4.3 million for Driveline and $0.9 million for Metal Forming for the three months ended September 30, 2025.
(c) Other segment expense (income), net primarily consists of the net impact of interest income and foreign exchange gains and losses.
|  | Three Months Ended September 30, 2024
|  | Driveline |  | Metal Forming |  |  |  | Corporate and Eliminations |  | Total
Sales |  | $ | 1,042.8 |  |  | $ | 596.5 |  |  |  |  | $ | — |  |  | $ | 1,639.3 |
Less: Intersegment sales |  | 0.5 |  |  | 133.9 |  |  |  |  | — |  |  | 134.4 |
Net external sales |  | $ | 1,042.3 |  |  | $ | 462.6 |  |  |  |  | $ | — |  |  | $ | 1,504.9 |
Cost of goods sold (a) |  | 839.0 |  |  | 403.4 |  |  |  |  | — |  |  | 1,242.4 |
Selling, general and administrative expenses (b) |  | 70.2 |  |  | 19.3 |  |  |  |  | — |  |  | 89.5 |
Other segment expense (income), net (c) |  | (2.6) |  |  | 1.2 |  |  |  |  | — |  |  | (1.4) |
Segment Adjusted EBITDA |  | $ | 135.7 |  |  | $ | 38.7 |  |  |  |  | $ | — |  |  | $ | 174.4 |
Depreciation and amortization |  | $ | 61.9 |  |  | $ | 55.0 |  |  |  |  | $ | — |  |  | $ | 116.9 |
Capital expenditures |  | $ | 40.4 |  |  | $ | 31.9 |  |  |  |  | $ | 0.9 |  |  | $ | 73.2 |
(a) Cost of goods sold excludes depreciation and amortization, which was $52.8 million for Driveline and $38.4 million for Metal Forming for the three months ended September 30, 2024.
(b) Selling, general and administrative expenses excludes depreciation, which was $4.2 million for Driveline and $0.9 million for Metal Forming for the three months ended September 30, 2024.
(c) Other segment expense (income), net primarily consists of the net impact of interest income and foreign exchange gains and losses.
|  | Nine Months Ended September 30, 2025
|  | Driveline |  | Metal Forming |  |  |  | Corporate and Eliminations |  | Total
Sales |  | $ | 3,091.0 |  |  | $ | 1,769.2 |  |  |  |  | $ | — |  |  | $ | 4,860.2 |
Less: Intersegment sales |  | 1.9 |  |  | 405.5 |  |  |  |  | — |  |  | 407.4 |
Net external sales |  | $ | 3,089.1 |  |  | $ | 1,363.7 |  |  |  |  | $ | — |  |  | $ | 4,452.8 |
Cost of goods sold (a) |  | 2,459.8 |  |  | 1,164.5 |  |  |  |  | — |  |  | 3,624.3 |
Selling, general and administrative expenses (b) |  | 210.2 |  |  | 64.7 |  |  |  |  | — |  |  | 274.9 |
Other segment expense (income), net (c) |  | (11.9) |  |  | (8.7) |  |  |  |  | — |  |  | (20.6) |
Segment Adjusted EBITDA |  | $ | 431.0 |  |  | $ | 143.2 |  |  |  |  | $ | — |  |  | $ | 574.2 |
Depreciation and amortization |  | $ | 180.2 |  |  | $ | 161.8 |  |  |  |  | $ | — |  |  | $ | 342.0 |
Capital expenditures |  | $ | 116.9 |  |  | $ | 72.3 |  |  |  |  | $ | 1.5 |  |  | $ | 190.7 |
Total assets |  | $ | 2,437.9 |  |  | $ | 1,588.7 |  |  |  |  | $ | 1,316.6 |  |  | $ | 5,343.2 |
(a) Cost of goods sold excludes depreciation and amortization, which was $153.3 million for Driveline and $111.6 million for Metal Forming for the nine months ended September 30, 2025.
(b) Selling, general and administrative expenses excludes depreciation, which was $13.0 million for Driveline and $2.6 million for Metal Forming for the nine months ended September 30, 2025.
(c) Other segment expense (income), net primarily consists of the net impact of interest income and foreign exchange gains and losses.
|  | Nine Months Ended September 30, 2024
|  | Driveline |  | Metal Forming |  |  |  | Corporate and Eliminations |  | Total
Sales |  | $ | 3,273.7 |  |  | $ | 1,893.7 |  |  |  |  | $ | — |  |  | $ | 5,167.4 |
Less: Intersegment sales |  | 0.7 |  |  | 422.6 |  |  |  |  | — |  |  | 423.3 |
Net external sales |  | $ | 3,273.0 |  |  | $ | 1,471.1 |  |  |  |  | $ | — |  |  | $ | 4,744.1 |
Cost of goods sold (a) |  | 2,613.9 |  |  | 1,265.8 |  |  |  |  | — |  |  | 3,879.7 |
Selling, general and administrative expenses (b) |  | 221.0 |  |  | 62.1 |  |  |  |  | — |  |  | 283.1 |
Other segment expense (income), net (c) |  | (6.8) |  |  | (0.3) |  |  |  |  | — |  |  | (7.1) |
Segment Adjusted EBITDA |  | $ | 444.9 |  |  | $ | 143.5 |  |  |  |  | $ | — |  |  | $ | 588.4 |
Depreciation and amortization |  | $ | 186.0 |  |  | $ | 168.3 |  |  |  |  | $ | — |  |  | $ | 354.3 |
Capital expenditures |  | $ | 93.4 |  |  | $ | 73.9 |  |  |  |  | $ | 2.7 |  |  | $ | 170.0 |
Total assets |  | $ | 2,567.0 |  |  | $ | 1,720.3 |  |  |  |  | $ | 1,041.0 |  |  | $ | 5,328.3 |
(a) Cost of goods sold excludes depreciation and amortization, which was $158.8 million for Driveline and $118.5 million for Metal Forming for the nine months ended September 30, 2024.
(b) Selling, general and administrative expenses excludes depreciation, which was $12.3 million for Driveline and $2.7 million for Metal Forming for the nine months ended September 30, 2024.
(c) Other segment expense (income), net primarily consists of the net impact of interest income and foreign exchange gains and losses.
Reconciliation of Total Segment Adjusted EBITDA to Income Before Income Taxes [Table Text Block] | The following table represents a reconciliation of Total Segment Adjusted EBITDA to consolidated income (loss) before income taxes for the three and nine months ended September 30, 2025 and 2024:
| Three Months Ended September 30, |  | Nine Months Ended September 30,
| 2025 |  | 2024 |  | 2025 |  | 2024
| (in millions)
Total segment adjusted EBITDA | $ | 194.7 |  |  | $ | 174.4 |  |  | $ | 574.2 |  |  | $ | 588.4 |
Interest expense | (42.7) |  |  | (45.2) |  |  | (128.7) |  |  | (142.1) |
Depreciation and amortization | (116.3) |  |  | (116.9) |  |  | (342.0) |  |  | (354.3) |
Restructuring and acquisition-related costs | (21.4) |  |  | (2.2) |  |  | (57.6) |  |  | (9.7) |
Gain (loss) on Business Combination Derivative (Note 6) | (16.0) |  |  | — |  |  | 52.2 |  |  | — |
Loss on equity securities | — |  |  | — |  |  | — |  |  | (0.1) |
Debt refinancing and redemption costs | — |  |  | (0.2) |  |  | (3.3) |  |  | (0.5) |
Impairment charges (Note 2) | — |  |  | (12.0) |  |  | (8.0) |  |  | (12.0) |
Income (loss) before income taxes | $ | (1.7) |  |  | $ | (2.1) |  |  | $ | 86.8 |  |  | $ | 69.7 |

X
- Definition Tabular disclosure of the reconciliation of profit (loss) from reportable segments to the consolidated income (loss) before income tax expense (benefit) and discontinued operations. Includes, but is not limited to, reconciliation after income tax if income tax is allocated to the reportable segment. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-31 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-30 + Details
Name: | us-gaap_ReconciliationOfOperatingProfitLossFromSegmentsToConsolidatedTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 25 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-25 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-22 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-30 + Details
Name: | us-gaap_ScheduleOfSegmentReportingInformationBySegmentTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_SegmentReportingAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration