AMERICAN AXLE & MANUFACTURING HOLDINGS INC
For the period ended Sep 30, 2024. Filed Nov 8, 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.
Sep 30, 2024 · Filed Nov 8, 2024
DCH$4.45-3.3%Stored close · as of Nov 10, 2026
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Condensed Consolidated Statements of Cash Flows
| Nine Months Ended | ||
|---|---|---|
| September 30, | ||
| 2024 | 2023 | |
| (in millions) | ||
| Operating activities | ||
| Net income (loss) | $48.7 | $(14.5) |
| Adjustments to reconcile net income (loss) to net cash provided by operating activities | ||
| Depreciation and amortization | 354.3 | 365.8 |
| Impairment charge (Note 2) | 12.0 | — |
| Deferred income taxes | (21.2) | (37.2) |
| Stock-based compensation | 11.7 | 10.3 |
| Pensions and other postretirement benefits, net of contributions | (7.0) | (9.0) |
| Loss on disposal of property, plant and equipment, net | 5.3 | 3.9 |
| Loss on equity securities | 0.1 | 1.2 |
| Debt refinancing and redemption costs | 0.5 | 0.3 |
| Changes in operating assets and liabilities | ||
| Accounts receivable | (106.1) | (67.5) |
| Inventories | 7.9 | 2.7 |
| Accounts payable and accrued expenses | 45.0 | 123.7 |
| Deferred revenue | (28.3) | (18.0) |
| Other assets and liabilities | (18.7) | (18.5) |
| Net cash provided by operating activities | 304.2 | 343.2 |
| Investing activities | ||
| Purchases of property, plant and equipment | (170.0) | (138.6) |
| Proceeds from sale of property, plant and equipment | 3.6 | 0.8 |
| Proceeds from government grants | 2.0 | — |
| Acquisition of business, net of cash acquired | (6.7) | (1.9) |
| Proceeds from sale of equity securities | 0.8 | — |
| Proceeds from insurance claim | — | 17.0 |
| Other investing activities | (3.9) | (4.0) |
| Net cash used in investing activities | (174.2) | (126.7) |
| Financing activities | ||
| Payments of Revolving Credit Facility | — | (25.0) |
| Proceeds from issuance of long-term debt | 7.0 | 35.1 |
| Payments of long-term debt | (99.2) | (89.8) |
| Debt issuance costs | (1.7) | (3.2) |
| Purchase of treasury stock | (2.8) | (14.7) |
| Other financing activities | (9.3) | (10.6) |
| Net cash used in financing activities | (106.0) | (108.2) |
| Effect of exchange rate changes on cash | (1.4) | (4.2) |
| Net increase in cash and cash equivalents | 22.6 | 104.1 |
| Cash and cash equivalents at beginning of period | 519.9 | 511.5 |
| Cash and cash equivalents at end of period | $542.5 | $615.6 |
| Supplemental cash flow information | ||
| Interest paid | $138.2 | $132.5 |
| Income taxes paid, net | $31.7 | $41.4 |
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