Earnings (Loss) Per Share (EPS)

12 Months Ended

Dec. 31, 2012

Earnings (Loss) per Share (EPS) [Abstract]

Earnings Per Share [Text Block]

EARNINGS PER SHARE (EPS)

The following table sets forth the computation of our basic and diluted EPS:

	2012		2011		2010
	(in millions, except per share data)
Numerator
Net income attributable to AAM	$	367.7	$	142.8	$	115.4
Denominators
Basic shares outstanding -
Weighted-average shares outstanding	75.3		74.9		71.5
Effect of dilutive securities -
Dilutive stock options	0.1		0.1		0.1
Dilutive warrants	—		0.4		2.9
Diluted shares outstanding -
Adjusted weighted-average shares after assumed conversions	75.4		75.4		74.5
Basic EPS	$	4.88	$	1.91	$	1.61
Diluted EPS	$	4.87	$	1.89	$	1.55

Certain exercisable stock options were excluded in the computations of diluted EPS because the exercise price of these options was greater than the average annual market prices of our stock. The number of stock options outstanding excluded from the calculation of diluted EPS was 3.3 million at year-end 2012, 4.0 million at year-end 2011 and 4.8 million at year-end 2010. The ranges of exercise prices related to these stock options were $15.58 - $40.83 at year-end 2012, $15.56 - $40.83 at year-end 2011 and $10.08 - $40.83 at year-end 2010.

As part of the 2009 Settlement and Commercial Agreement, we issued to GM five year warrants, which entitled GM to purchase 4.1 million shares of AAM's common stock at an exercise price of $2.76 per share. In 2011, GM exercised these warrants. In accordance with the cashless exercise option available in the agreement, we issued 3.3 million net shares of common stock to GM.