v3.7.0.1

Acquisitions (Tables) | 12 Months Ended
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Dec. 31, 2016
Schedule of Inventories | Inventories as of December 31 were as follows:
|  |  | 2016 |  |  |  | 2015 |
|  | (In millions) |
Raw materials |  | $ | 50.7 |  |  |  | 57.3 |
Work in process |  |  | 62.5 |  |  |  | 66.3 |
Finished goods |  |  | 55.2 |  |  |  | 63.2 |
Total inventories |  | $ | 168.4 |  |  |  | 186.8 |
Property and Equipment Net | The carrying amount, accumulated depreciation and useful lives of property and equipment as of December 31 were as follows:
|  | Estimated Useful Lives |  |  | 2016 |  |  |  | 2015 |
|  |  |  | (In millions) |
Land and land improvements |  | 1 - 30 |  | $ | 28.5 |  |  |  | 26.8 |
Buildings and improvements |  | 1 - 30 |  |  | 127.7 |  |  |  | 103.7 |
Machinery and equipment |  | 1 - 20 |  |  | 1,084.8 |  |  |  | 930.1 |
Assets not yet placed in service |  |  |  |  | 144.6 |  |  |  | 145.0 |
|  |  |  |  | 1,385.6 |  |  |  | 1,205.6 |
Accumulated depreciation |  |  |  |  | (554.0 | ) |  |  | (419.6 | )
Property and equipment, net |  |  |  | $ | 831.6 |  |  |  | 786.0 |
Schedule of Intangible Assets | The carrying amount and accumulated amortization of intangible assets as of December 31 were as follows:
|  | 2016 |
|  | Gross Carrying Amount |  |  | Accumulated Amortization |  |  | Net Carrying Amount |
|  | (In millions) |
Customer relationships and platforms |  | $ | 745.2 |  |  |  | (197.5 | ) |  |  | 547.7 |
Other |  |  | 126.9 |  |  |  | (35.5 | ) |  |  | 91.4 |
Total |  | $ | 872.1 |  |  |  | (233.0 | ) |  |  | 639.1 |
|  | 2015 |
|  | Gross Carrying Amount |  |  | Accumulated Amortization |  |  | Net Carrying Amount |
|  | (In millions) |
Customer relationships and platforms |  | $ | 745.2 |  |  |  | (137.0 | ) |  |  | 608.2 |
Other |  |  | 126.7 |  |  |  | (26.0 | ) |  |  | 100.7 |
Total |  | $ | 871.9 |  |  |  | (163.0 | ) |  |  | 708.9 |
Pro Forma [Member] |
Schedule Revenues and Earnings Included in the Condensed Consolidated Statements of Operations | The following table presents the revenues and earnings of MPG on a pro forma basis as if the Grede Transaction had occurred on January 1, 2013:
|  | Pro Forma |
|  |  | 2014 |  |  |  | 2013 |
|  | (In millions) |
Revenues: Net sales |  | $ | 3,144.0 |  |  |  | 3,052.9 |
Earnings: Income before tax |  |  | 93.3 |  |  |  | 103.4 |
ASP Grede Intermediate Holdings LLC [Member] |
Business Combination Assets Acquired and Liabilities Assumed | The Grede Transaction was recorded, as revised for updated valuation information, in the accounts of the Company as follows:
|  | June 2, 2014 |
|  | (In millions) |
Fair value of consideration |  | $ | 829.7 |
Assets acquired: |  |  |  |
Receivables |  |  | 120.2 |
Inventories |  |  | 40.1 |
Prepaid expenses and other current assets |  |  | 11.4 |
Property and equipment |  |  | 208.5 |
Amortizable intangible assets |  |  | 369.1 |
Other assets |  |  | 9.1 |
Total assets acquired |  |  | 758.4 |
Liabilities assumed: |  |  |  |
Accounts payable |  |  | 94.7 |
Accrued liabilities |  |  | 25.7 |
Deferred tax liabilities |  |  | 47.5 |
Short-term debt |  |  | 1.7 |
Other long-term liabilities |  |  | 20.7 |
Total liabilities assumed |  |  | 190.3 |
Net identifiable assets acquired, net of cash and cash equivalents |  |  | 568.1 |
Goodwill |  | $ | 261.6 |
Schedule of Inventories | Additional details of the assets recognized were as follows:
|  | June 2, 2014 |
|  | (In millions) |
Inventories |  |  |  |
Raw materials |  | $ | 11.9 |
Work in process |  |  | 12.6 |
Finished goods |  |  | 15.6 |
Total inventories |  | $ | 40.1 |
Property and Equipment Net |
|  | June 2, 2014 |  |  | Estimated Useful Lives |
|  | (In millions) |  |  | (In years) |
Property and equipment |  |  |  |  |  |  |  |
Land |  | $ | 12.2 |  |  |  | — |
Buildings |  |  | 31.8 |  |  | 5 – 29 |
Machinery and equipment |  |  | 148.8 |  |  | 1 – 20 |
Assets not yet placed in service |  |  | 15.7 |  |  |  | — |
Total property and equipment |  | $ | 208.5 |  |  |  |  |
Schedule of Intangible Assets |
|  | June 2, 2014 |  |  | Amortization Period |
|  | (In millions) |  |  | (In years) |
Amortizable intangible assets |  |  |  |  |  |  |  |
Customer relationships and platforms |  | $ | 338.7 |  |  |  | 10 |
Other: trade names |  |  | 30.4 |  |  |  | 15 |
Total amortizable intangible assets |  | $ | 369.1 |  |  |  |  |
Schedule Revenues and Earnings Included in the Condensed Consolidated Statements of Operations | The funded status as of the Acquisition Date was as follows:
|  | June 2, 2014 |
|  | (In millions) |
Projected benefit obligation |  | $ | 33.9 |
Fair value of plan assets |  |  | 27.6 |
Funded Status |  | $ | (6.3 | )
ASP MD Holdings, Inc [Member] |
Schedule Revenues and Earnings Included in the Condensed Consolidated Statements of Operations | The amount of Grede revenues and earnings included in the consolidated statements of operations subsequent to the Grede Transaction was as follows:
|  |  | 2016 |  |  |  | 2015 |  |  |  | 2014 |
|  | (In millions) |
Revenues: Net sales |  | $ | 787.3 |  |  |  | 906.8 |  |  |  | 572.1 |
Earnings: Income (loss) before tax |  |  | 17.9 |  |  |  | 43.3 |  |  |  | (19.2 | )

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