AMERICAN AXLE & MANUFACTURING HOLDINGS INC
For the period ended Mar 31, 2024. Filed May 3, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Mar 31, 2024 · Filed May 3, 2024
DCH$4.45-3.3%Stored close · as of Nov 10, 2026
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Condensed Consolidated Statements of Cash Flows
| Three Months Ended | ||
|---|---|---|
| March 31, | ||
| 2024 | 2023 | |
| (in millions) | ||
| Operating activities | ||
| Net income (loss) | $20.5 | $(5.1) |
| Adjustments to reconcile net income (loss) to net cash provided by operating activities | ||
| Depreciation and amortization | 117.8 | 124.9 |
| Deferred income taxes | 2.4 | (15.4) |
| Stock-based compensation | 3.8 | 3.4 |
| Pensions and other postretirement benefits, net of contributions | (1.0) | (4.0) |
| Loss on disposal of property, plant and equipment, net | 2.7 | 0.5 |
| Unrealized loss (gain) on equity securities | (0.1) | 0.3 |
| Changes in operating assets and liabilities | ||
| Accounts receivable | (147.3) | (68.4) |
| Inventories | 1.9 | 2.9 |
| Accounts payable and accrued expenses | 51.1 | 25.2 |
| Deferred revenue | (0.8) | (6.9) |
| Other assets and liabilities | (33.2) | (25.3) |
| Net cash provided by operating activities | 17.8 | 32.1 |
| Investing activities | ||
| Purchases of property, plant and equipment | (48.0) | (46.6) |
| Proceeds from sale of property, plant and equipment | 3.1 | 0.4 |
| Acquisition of business, net of cash acquired | (0.6) | (0.6) |
| Proceeds from insurance claim | — | 17.0 |
| Other investing activities | (2.7) | (0.7) |
| Net cash used in investing activities | (48.2) | (30.5) |
| Financing activities | ||
| Payments of Revolving Credit Facility | — | (25.0) |
| Proceeds from issuance of long-term debt | — | 5.4 |
| Payments of long-term debt | (10.1) | (11.3) |
| Purchase of treasury stock | (2.7) | (14.5) |
| Other financing activities | (3.2) | (3.7) |
| Net cash used in financing activities | (16.0) | (49.1) |
| Effect of exchange rate changes on cash | (3.7) | 1.7 |
| Net decrease in cash and cash equivalents | (50.1) | (45.8) |
| Cash and cash equivalents at beginning of period | 519.9 | 511.5 |
| Cash and cash equivalents at end of period | $469.8 | $465.7 |
| Supplemental cash flow information | ||
| Interest paid | $47.8 | $41.6 |
| Income taxes paid, net | $11.5 | $26.0 |
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