10-Q

UNITED STATES SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C.  20549

FORM 10-Q

þ	QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
	For the quarterly period ended March 31, 2015
or
o	TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
	For the transition period from  _____________ to _____________

Commission File Number:  1-14303

_______________________________________________________________________________

AMERICAN AXLE & MANUFACTURING HOLDINGS, INC.

(Exact Name of Registrant as Specified in Its Charter)

Delaware	38-3161171
(State or Other Jurisdiction of Incorporation or Organization)	(I.R.S. Employer Identification No.)
One Dauch Drive, Detroit, Michigan	48211-1198
(Address of Principal Executive Offices)	(Zip Code)

(313) 758-2000

(Registrant's Telephone Number, Including Area Code)

_______________________________________________________________________________

Indicate by check mark whether the registrant: (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.    Yes þ No o

Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files).     Yes  þ No  o

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company.  See definition of “accelerated filer,” “large accelerated filer” and “smaller reporting company” in Rule 12b-2 of the Exchange Act. (Check one):

Large accelerated filer   þ         Accelerated filer  o           Non-accelerated filer   o                Smaller reporting company   o

                                                                                (Do not check if a smaller reporting company)

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes o No þ

As of April 29, 2015, the latest practicable date, the number of shares of the registrant's Common Stock, par value $0.01 per share, outstanding was 75,815,272 shares.

Internet Website Access to Reports

The website for American Axle & Manufacturing Holdings, Inc. is www.aam.com.  Our annual reports on Form 10-K, quarterly reports on Form 10-Q, current reports on Form 8-K and amendments to those reports filed or furnished pursuant to Section 13 or 15(d) of the Exchange Act are available free of charge through our website as soon as reasonably practicable after they are electronically filed with, or furnished to, the Securities and Exchange Commission (SEC).  The SEC also maintains a website at www.sec.gov that contains reports, proxy and information statements, and other information regarding issuers that file electronically with the SEC.

AMERICAN AXLE & MANUFACTURING HOLDINGS, INC.

FORM 10-Q

FOR THE QUARTER ENDED MARCH 31, 2015

TABLE OF CONTENTS

			Page Number
FORWARD-LOOKING STATEMENTS			1
Part I		FINANCIAL INFORMATION	2
	Item 1	Financial Statements	2
		Condensed Consolidated Statements of Income	2
		Condensed Consolidated Statements of Comprehensive Income	3
		Condensed Consolidated Balance Sheets	4
		Condensed Consolidated Statements of Cash Flows	5
		Notes to Condensed Consolidated Financial Statements	6
	Item 2	Management's Discussion and Analysis of Financial Condition and Results of Operations	20
	Item 3	Quantitative and Qualitative Disclosures About Market Risk	24
	Item 4	Controls and Procedures	24
Part II		OTHER INFORMATION	25
	Item 1A	Risk Factors	25
	Item 2	Unregistered Sales of Equity Securities and Use of Proceeds	25
	Item 6	Exhibits	25
		Signatures	26
		Exhibit Index	27
		Ex. 31.1  Certification - CEO - Rule 13a-14(a)
		Ex. 31.2  Certification - CFO - Rule 13a-14(a)
		Ex. 32  Section 906 Certifications
		Ex. 101 Instance Document
		Ex. 101 Schema Document
		Ex. 101 Calculation Linkbase Document
		Ex. 101 Label Linkbase Document
		Ex. 101 Presentation Linkbase Document
		Ex. 101 Definition Linkbase Document

FORWARD-LOOKING STATEMENTS

In this Quarterly Report on Form 10-Q (Quarterly Report), we make statements concerning our expectations, beliefs, plans, objectives, goals, strategies, and future events or performance. Such statements are “forward-looking” statements within the meaning of the Private Securities Litigation Reform Act of 1995 and relate to trends and events that may affect our future financial position and operating results. The terms such as “will,” “may,” “could,” “would,” “plan,” “believe,” “expect,” “anticipate,” “intend,” “project,” "target," and similar words or expressions, as well as statements in future tense, are intended to identify forward-looking statements.

Forward-looking statements should not be read as a guarantee of future performance or results, and will not necessarily be accurate indications of the times at, or by, which such performance or results will be achieved. Forward-looking statements are based on information available at the time those statements are made and/or management’s good faith belief as of that time with respect to future events and are subject to risks and may differ materially from those expressed in or suggested by the forward-looking statements. Important factors that could cause such differences include, but are not limited to:

• reduced purchases of our products by General Motors Company (GM), FCA US LLC, formerly known as Chrysler Group LLC (Chrysler), or other customers;

• reduced demand for our customers' products (particularly light trucks and sport utility vehicles (SUVs) produced by GM and Chrysler);

• our ability to develop and produce new products that reflect market demand;

• lower-than-anticipated market acceptance of new or existing products;

• our ability to attract new customers and programs for new products;

• our ability to respond to changes in technology, increased competition or pricing pressures;

• our ability to achieve the level of cost reductions required to sustain global cost competitiveness;

• supply shortages or price increases in raw materials, utilities or other operating supplies for us or our customers as a result of natural disasters or otherwise;

• our ability to successfully implement upgrades to our enterprise resource planning systems;

• global economic conditions;

• risks inherent in our international operations (including adverse changes in political stability, taxes and other law changes, potential disruptions of production and supply, and currency rate fluctuations);

• liabilities arising from warranty claims, product recall or field actions, product liability and legal proceedings to which we are or may become a party, or the impact of product recall or field actions on our customers;

• our ability to maintain satisfactory labor relations and avoid work stoppages;

• our suppliers', our customers' and their suppliers' ability to maintain satisfactory labor relations and avoid work stoppages;

• our ability or our customers' and suppliers' ability to successfully launch new product programs on a timely basis;

• our ability to realize the expected revenues from our new and incremental business backlog;

• negative or unexpected tax consequences;

• price volatility in, or reduced availability of, fuel;

• our ability to consummate and integrate acquisitions and joint ventures;

• our ability to attract and retain key associates;

• our ability to protect our intellectual property and successfully defend against assertions made against us;

• availability of financing for working capital, capital expenditures, research and development (R&D) or other general corporate purposes including acquisitions, as well as our ability to comply with financial covenants;

• our customers' and suppliers' availability of financing for working capital, capital expenditures, R&D or other general corporate purposes;

• changes in liabilities arising from pension and other postretirement benefit obligations;

• risks of noncompliance with environmental laws and regulations or risks of environmental issues that could result in unforeseen costs at our facilities;

• adverse changes in laws, government regulations or market conditions affecting our products or our customers' products (such as the Corporate Average Fuel Economy (CAFE) regulations);

• our ability or our customers' and suppliers' ability to comply with the Dodd-Frank Act and other regulatory requirements and the potential costs of such compliance; and

• other unanticipated events and conditions that may hinder our ability to compete.

It is not possible to foresee or identify all such factors and we make no commitment to update any forward-looking statement or to disclose any facts, events or circumstances after the date hereof that may affect the accuracy of any forward-looking statement.

1

PART I.  FINANCIAL INFORMATION

Item 1.  Financial Statements

AMERICAN AXLE & MANUFACTURING HOLDINGS, INC.

CONDENSED CONSOLIDATED STATEMENTS OF INCOME

(Unaudited)

	Three Months Ended
	March 31,
	2015			2014
	(in millions, except per share data)
Net sales	$	969.1		$	858.8
Cost of goods sold	816.3			736.9
Gross profit	152.8			121.9
Selling, general and administrative expenses	68.5			57.1
Operating income	84.3			64.8
Interest expense	(25.1		)	(25.0		)
Investment income	0.8			0.3
Other income, net	2.4			0.5
Income before income taxes	62.4			40.6
Income tax expense	9.2			7.0
Net income	$	53.2		$	33.6
Basic earnings per share	$	0.69		$	0.44
Diluted earnings per share	$	0.68		$	0.44

See accompanying notes to condensed consolidated financial statements.                   

2

AMERICAN AXLE & MANUFACTURING HOLDINGS, INC.

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME

(Unaudited)

	Three Months Ended
	March 31,
	2015			2014
	(in millions)
Net income	$	53.2		$	33.6
Other comprehensive income (loss), net of tax
Defined benefit plans, net of tax (a)	3.9			5.1
Foreign currency translation adjustments	(31.5		)	7.8
Change in derivatives	(0.5		)	0.9
Other comprehensive income (loss)	(28.1		)	13.8
Comprehensive income	$	25.1		$	47.4

(a) Amounts are net of tax of $(2.0) million and $(2.7) million for the three months ended March 31, 2015 and 2014, respectively.

See accompanying notes to condensed consolidated financial statements.                   

3

AMERICAN AXLE & MANUFACTURING HOLDINGS, INC.

CONDENSED CONSOLIDATED BALANCE SHEETS

	March 31, 2015			December 31, 2014
	(Unaudited)
Assets	(in millions)
Current assets
Cash and cash equivalents	$	205.7		$	249.2
Accounts receivable, net	668.0			532.7
Inventories, net	238.5			248.8
Prepaid expenses and other current assets	111.8			108.8
Total current assets	1,224.0			1,139.5
Property, plant and equipment, net	1,040.0			1,061.1
Deferred income taxes	362.9			368.8
Goodwill	154.3			155.0
GM postretirement cost sharing asset	263.7			274.5
Other assets and deferred charges	262.9			260.3
Total assets	$	3,307.8		$	3,259.2
Liabilities and Stockholders’ Equity
Current liabilities
Current portion of long-term debt	$	13.9		$	13.0
Accounts payable	489.8			444.3
Accrued compensation and benefits	102.4			109.1
Deferred revenue	22.0			22.1
Accrued expenses and other current liabilities	103.9			98.7
Total current liabilities	732.0			687.2
Long-term debt	1,520.8			1,523.4
Deferred revenue	88.9			94.2
Postretirement benefits and other long-term liabilities	823.8			841.0
Total liabilities	3,165.5			3,145.8
Stockholders' equity
Common stock, par value $0.01 per share	0.8			0.8
Paid-in capital	627.8			623.7
Retained earnings (Accumulated deficit)	21.8			(31.4		)
Treasury stock at cost, 6.1 million shares at both March 31, 2015 and December 31, 2014	(183.1		)	(182.8		)
Accumulated other comprehensive loss, net of tax
Defined benefit plans	(236.7		)	(240.6		)
Foreign currency translation adjustments	(80.4		)	(48.9		)
Unrecognized loss on derivatives	(7.9		)	(7.4		)
Total stockholders’ equity	142.3			113.4
Total liabilities and stockholders' equity	$	3,307.8		$	3,259.2

See accompanying notes to condensed consolidated financial statements. 

4

AMERICAN AXLE & MANUFACTURING HOLDINGS, INC.

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

(Unaudited)

	Three Months Ended
	March 31,
	2015			2014
	(in millions)
Operating activities
Net income	$	53.2		$	33.6
Adjustments to reconcile net income to net cash provided by (used in) operating activities
Depreciation and amortization	50.0			46.9
Deferred income taxes	3.9			(0.7		)
Stock-based compensation	3.6			2.0
Pensions and other postretirement benefits, net of contributions	(0.7		)	(0.1		)
Gain on disposal of property, plant and equipment, net	—			(4.0		)
Changes in operating assets and liabilities
Accounts receivable	(140.6		)	(194.2		)
Inventories	7.2			5.2
Accounts payable and accrued expenses	52.5			25.0
Deferred revenue	(4.5		)	35.7
Other assets and liabilities	(18.2		)	(4.9		)
Net cash provided by (used in) operating activities	6.4			(55.5		)
Investing activities
Purchases of property, plant and equipment	(43.6		)	(47.9		)
Proceeds from sale of property, plant and equipment	0.1			7.9
Net cash used in investing activities	(43.5		)	(40.0		)
Financing activities
Net short-term borrowings under credit facilities	—			29.0
Payments of long-term debt and capital lease obligations	(2.2		)	(11.5		)
Proceeds from issuance of long-term debt	1.0			3.1
Debt issuance costs	—			(0.2		)
Purchase of treasury stock	(0.3		)	(0.3		)
Employee stock option exercises	0.4			0.6
Net cash provided by (used in) financing activities	(1.1		)	20.7
Effect of exchange rate changes on cash	(5.3		)	0.4
Net decrease in cash and cash equivalents	(43.5		)	(74.4		)
Cash and cash equivalents at beginning of period	249.2			154.0
Cash and cash equivalents at end of period	$	205.7		$	79.6
Supplemental cash flow information
Interest paid	$	19.3		$	14.1
Income taxes paid, net of refunds	$	5.5		$	4.5

See accompanying notes to condensed consolidated financial statements.

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AMERICAN AXLE & MANUFACTURING HOLDINGS, INC.

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

March 31, 2015

(Unaudited)

1. ORGANIZATION AND BASIS OF PRESENTATION

Organization American Axle & Manufacturing Holdings, Inc. (Holdings) and its subsidiaries (collectively, we, our, us or AAM) is a Tier I supplier to the automotive industry. We manufacture, engineer, design and validate driveline and drivetrain systems and related components and chassis modules for light trucks, sport utility vehicles (SUVs), passenger cars, crossover vehicles and commercial vehicles. Driveline and drivetrain systems include components that transfer power from the transmission and deliver it to the drive wheels. Our driveline, drivetrain and related products include axles, chassis modules, driveshafts, power transfer units, transfer cases, chassis and steering components, driveheads, transmission parts, electric drive systems and metal-formed products. In addition to locations in the United States (U.S.) (Michigan, Ohio, Indiana and Pennsylvania), we also have offices or facilities in Brazil, China, Germany, India, Japan, Luxembourg, Mexico, Poland, Scotland, South Korea, Sweden and Thailand.

Basis of PresentationWe have prepared the accompanying interim condensed consolidated financial statements in accordance with the instructions to Form 10-Q under the Securities Exchange Act of 1934.  These condensed consolidated financial statements are unaudited but include all normal recurring adjustments, which we consider necessary for a fair presentation of the information set forth herein.  Results of operations for the periods presented are not necessarily indicative of the results for the full fiscal year.

The balance sheet at December 31, 2014 presented herein has been derived from the audited consolidated financial statements at that date but does not include all of the information and footnotes required by accounting principles generally accepted in the United States of America (GAAP) for complete consolidated financial statements.

In order to prepare the accompanying interim condensed consolidated financial statements, we are required to make estimates and assumptions that affect the reported amounts and disclosures in our interim condensed consolidated financial statements.  Actual results could differ from those estimates.

For further information, refer to the audited consolidated financial statements and notes included in our Annual Report on Form 10-K for the year ended December 31, 2014.

Effect of New Accounting Standards On April 7, 2015, the Financial Accounting Standards Board (FASB) issued an accounting standards update (ASU) which changes the presentation of debt issuance costs in financial statements. Under the ASU, an entity would present such costs in the balance sheet as a direct deduction of the related debt liability rather than as an asset. Amortization of the costs will continue to be reported as interest expense. This ASU becomes effective for AAM at the beginning of our 2016 fiscal year and early adoption is permitted. We estimate the effect of implementing this ASU on our consolidated financial statements would reduce both our other assets and deferred charges and long-term debt by approximately $15.5 million at December 31, 2015.

In 2014, new accounting guidance was issued that outlines a single comprehensive model for entities to use in accounting for revenue arising from contracts with customers and supersedes most current revenue recognition guidance, including industry-specific guidance. The guidance is based on the principle that an entity should recognize revenue to depict the transfer of goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services.  The guidance also requires additional disclosure about the nature, amount, timing and uncertainty of revenue and cash flows arising from customer contracts, including significant judgments and changes in judgments and assets recognized from costs incurred to fulfill a contract.  Entities have the option of using either a full retrospective or a modified retrospective approach for the adoption of the new standard.  This guidance becomes effective for AAM at the beginning of our 2017 fiscal year, however on April 1, 2015, the FASB proposed to defer the effective date of this revenue recognition guidance by one year. We are currently assessing the impact that this standard will have on our consolidated financial statements.

6

AMERICAN AXLE & MANUFACTURING HOLDINGS, INC.

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED)

2. INVENTORIES

We state our inventories at the lower of cost or market.  The cost of our inventories is determined using the FIFO method.  When we determine that our gross inventories exceed usage requirements, or if inventories become obsolete or otherwise not saleable, we record a provision for such loss as a component of our inventory accounts.

Inventories consist of the following: 

	March 31, 2015			December 31, 2014
	(in millions)
Raw materials and work-in-progress	$	234.2		$	243.8
Finished goods	32.6			32.9
Gross inventories	266.8			276.7
Inventory valuation reserves	(28.3		)	(27.9		)
Inventories, net	$	238.5		$	248.8

3. LONG-TERM DEBT

Long-term debt consists of the following:

	March 31, 2015		December 31, 2014
	(in millions)
Revolving Credit Facility	$	—	$	—
Term Facility	140.6		142.5
7.75% Notes	200.0		200.0
6.625% Notes	550.0		550.0
6.25% Notes	400.0		400.0
5.125% Notes	200.0		200.0
Foreign credit facilities	39.2		38.9
Capital lease obligations	4.9		5.0
Debt	1,534.7		1,536.4
Less: Current portion of long-term debt	13.9		13.0
Long-term debt	$	1,520.8	$	1,523.4

Revolving Credit Facility and Term Facility As of March 31, 2015, the revolving credit facility provided up to $523.5 million of revolving bank financing commitments through September 13, 2018.  At March 31, 2015, we had $505.5 million available under the revolving credit facility.  This availability reflects a reduction of $18.0 million for standby letters of credit issued against the facility.

The revolving credit facility provides back-up liquidity for our foreign credit facilities.  We intend to use the availability of long-term financing under the revolving credit facility to refinance any current maturities related to such debt agreements that are not otherwise refinanced on a long-term basis in their local markets, except where otherwise reclassified to current portion of long-term debt on our Condensed Consolidated Balance Sheet.

In the first three months of both 2015 and 2014, we made principal payments of $1.9 million on our term facility.

We utilize local currency credit facilities to finance the operations of certain foreign subsidiaries.  At March 31, 2015, $39.2 million was outstanding under these facilities and an additional $46.2 million was available.

The weighted-average interest rate of our long-term debt outstanding was 6.4% at March 31, 2015 and December 31, 2014.  

7

AMERICAN AXLE & MANUFACTURING HOLDINGS, INC.

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED)

4. FAIR VALUE

The fair value accounting guidance defines fair value as “the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date.”  The definition is based on an exit price rather than an entry price, regardless of whether the entity plans to hold or sell the asset.  This guidance also establishes a fair value hierarchy to prioritize inputs used in measuring fair value as follows:

• Level 1:  Observable inputs such as quoted prices in active markets;

• Level 2:  Inputs, other than quoted prices in active markets, that are observable either directly or indirectly; and

• Level 3:  Unobservable inputs in which there is little or no market data, which require the reporting entity to develop its own assumptions.

Financial instruments   The estimated fair value of our financial assets and liabilities that are recognized at fair value on a recurring basis, using available market information and other observable data, are as follows:

	March 31, 2015				December 31, 2014
	Carrying Amount		Fair Value		Carrying Amount		Fair Value		Input
	(in millions)				(in millions)
Balance Sheet Classification
Cash equivalents	$	29.0	$	29.0	$	35.3	$	35.3	Level 1
Other accrued expenses
Currency forward contracts	8.3		8.3		8.3		8.3		Level 2
Other long-term liabilities
Currency forward contracts	0.3		0.3		0.1		0.1		Level 2

The carrying values of our cash, accounts receivable, accounts payable and accrued liabilities approximate their fair values due to the short-term maturities of these instruments.  The carrying values of our borrowings under the foreign credit facilities approximate their fair value due to the frequent resetting of the interest rates.  We estimated the fair value of the amounts outstanding on our debt using available market information and other observable data, to be as follows:

	March 31, 2015				December 31, 2014
	Carrying  Amount		Fair Value		Carrying  Amount		Fair Value		Input
	(in millions)				(in millions)
Revolving Credit Facility	$	—	$	—	$	—	$	—	Level 2
Term Facility	140.6		139.2		142.5		141.1		Level 2
7.75% Notes	200.0		227.0		200.0		224.0		Level 2
6.625% Notes	550.0		589.2		550.0		583.0		Level 2
6.25% Notes	400.0		422.0		400.0		419.0		Level 2
5.125% Notes	200.0		205.2		200.0		202.6		Level 2

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AMERICAN AXLE & MANUFACTURING HOLDINGS, INC.

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED)

5. DERIVATIVES

Our business and financial results are affected by fluctuations in world financial markets, including interest rates and currency exchange rates.  Our hedging policy has been developed to manage these risks to an acceptable level based on management’s judgment of the appropriate trade-off between risk, opportunity and cost.  We do not hold financial instruments for trading or speculative purposes.

Currency forward contracts  From time to time, we use foreign currency forward contracts to reduce the effects of fluctuations in exchange rates, primarily relating to the Mexican Peso, Euro, Swedish Krona, Polish Zloty and Pound Sterling.  As of March 31, 2015, we have currency forward contracts outstanding with a notional amount of $108.2 million that hedge our exposure to changes in foreign currency exchange rates for our payroll expenses, indirect inventory and other working capital items.  

The following table summarizes the reclassification of pre-tax derivative losses into net income from accumulated other comprehensive income (loss):

	Location of	Loss Reclassified During					Loss Expected to
	Loss	Three Months Ended					be Reclassified
	Reclassified into	March 31,					During the
	Net Income	2015			2014		Next 12 Months
		(in millions)
Currency forward contracts	Cost of Goods Sold	$	(1.5	)	$	—	$	(7.6	)

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AMERICAN AXLE & MANUFACTURING HOLDINGS, INC.

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED)

6. EMPLOYEE BENEFIT PLANS

The components of net periodic benefit cost (credit) are as follows:

	Pension Benefits
	Three Months Ended
	March 31,
	2015			2014
	(in millions)
Service cost	$	0.8		$	0.9
Interest cost	7.2			9.0
Expected asset return	(10.6		)	(12.1		)
Amortized loss	1.7			1.3
Net periodic benefit credit	$	(0.9	)	$	(0.9	)
	Other Postretirement Benefits
	Three Months Ended
	March 31,
	2015			2014
	(in millions)
Service cost	$	0.1		$	0.1
Interest cost	3.8			3.8
Amortized loss	0.2			0.2
Amortized prior service credit	(0.7		)	(0.7		)
Net periodic benefit cost	$	3.4		$	3.4

Due to the availability of our prefunding balances (previous contributions in excess of prior required pension contributions), we are not required to make any cash payments in 2015. We expect our cash payments for other postretirement benefit obligations in 2015, net of GM cost sharing, to be approximately $16 million.

10

AMERICAN AXLE & MANUFACTURING HOLDINGS, INC.

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED)

7. PRODUCT WARRANTIES

We record a liability for estimated warranty obligations at the dates our products are sold. These estimates are established using sales volumes and internal and external warranty data where there is no payment history and historical information about the average cost of warranty claims for customers with prior claims. We estimate our costs based on the contractual arrangements with our customers, existing customer warranty terms and internal and external warranty data, which includes a determination of our warranty claims and actions taken to improve product quality and minimize warranty claims. We continuously evaluate these estimates and our customers' administration of their warranty programs. We closely monitor actual warranty claim data and adjust the liability, as necessary, on a quarterly basis.

The following table provides a reconciliation of changes in the product warranty liability:

	Three Months Ended
	March 31,
	2015			2014
	(in millions)
Beginning balance	$	12.4		$	14.3
Accruals	4.5			4.2
Settlements	(0.2		)	(0.8		)
Adjustment to prior period accruals, net	1.4			0.2
Foreign currency translation	(0.2		)	0.1
Ending balance	$	17.9		$	18.0

8. INCOME TAXES

 We are required to adjust our effective tax rate each quarter to estimate our annual effective tax rate. We must also record the tax impact of certain discrete, unusual or infrequently occurring items, including changes in judgment about valuation allowances and effects of changes in tax laws or rates, in the interim period in which they occur. In addition, jurisdictions with a projected loss for the year or a year-to-date loss where no tax benefit can be recognized are excluded from the estimated annual effective tax rate. The impact of such an exclusion could result in a higher or lower effective tax rate during a particular quarter, based upon the mix and timing of actual earnings versus annual projections.

Income tax expense was $9.2 million in the three months ended March 31, 2015 as compared to $7.0 million in the three months ended March 31, 2014.  Our effective income tax rate was 14.8% in the first quarter of 2015 as compared to 17.3% in the first quarter of 2014. Our income tax expense and effective tax rate for the three months ended March 31, 2015 and March 31, 2014 primarily reflect favorable foreign tax rates, along with our inability to realize a tax benefit for current foreign losses.

Our income tax expense and effective tax rate for the three months ended March 31, 2015 also reflect a tax benefit of $1.0 million related to the settlement of the IRS audits for 2010 and 2011.

Based on the status of the audits outside the U.S., and the protocol of finalizing audits by the relevant tax authorities, it is not possible to estimate the impact of changes, if any, to previously recorded uncertain tax positions or predict the timing of the conclusion of all ongoing audits with certainty. As of March 31, 2015 and December 31, 2014, we have recorded a liability for unrecognized income tax benefits and related interest and penalties of $60.8 million and $59.5 million, respectively. We anticipate that the current 2007 through 2009 audits with the Mexican tax authorities will be completed before the end of 2015 and will result in a cash payment to the tax authorities.

Although it is difficult to estimate with certainty the amount of an audit settlement for the years currently under audit, we do not expect the settlement will be materially different from what we have recorded in unrecognized tax benefits. We will continue to monitor the progress and conclusions of all ongoing audits and will adjust our estimated liability as necessary.

11

AMERICAN AXLE & MANUFACTURING HOLDINGS, INC.

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED)

9. EARNINGS PER SHARE (EPS)

We present earnings per share (EPS) using the two-class method. This method allocates undistributed earnings between common shares and non-vested share based payment awards that entitle the holder to nonforfeitable dividend rights. Our participating securities include non-vested restricted stock units.

The following table sets forth the computation of our basic and diluted EPS available to shareholders of common stock (excluding participating securities):

	Three Months Ended
	March 31,
	2015			2014
	(in millions, except per share data)
Numerator
Net income	$	53.2		$	33.6
Less: Net income attributable to participating securities	(1.2		)	(0.6		)
Net income attributable to common shareholders - Basic	$	52.0		$	33.0
Undistributed earnings reallocated to common shareholders under two step     dilutive method	—			—
Net income attributable to common shareholders - Dilutive	$	52.0		$	33.0
Denominators
Basic common shares outstanding -
Weighted-average shares outstanding	77.5			77.0
Less: Participating securities	(1.7		)	(1.4		)
Weighted-average common shares outstanding	75.8			75.6
Effect of dilutive securities -
Dilutive stock-based compensation	0.3			0.1
Diluted shares outstanding -
Adjusted weighted-average shares after assumed conversions	76.1			75.7
Basic EPS	$	0.69		$	0.44
Diluted EPS	$	0.68		$	0.44

Certain exercisable stock options were excluded from the computations of diluted EPS because the exercise price of these options was greater than the average period market prices. The number of stock options outstanding, which were not included in the calculation of diluted EPS, was 0.2 million at March 31, 2015 and 1.1 million at March 31, 2014. The exercise price related to the excluded exercisable stock options was $26.02 at March 31, 2015 and a range of $19.54 - $40.83 at March 31, 2014.

12

AMERICAN AXLE & MANUFACTURING HOLDINGS, INC.

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED)

10. RECLASSIFICATIONS OUT OF ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)

Reclassification adjustments and other activity impacting accumulated other comprehensive income (loss) during the three months ended March 31, 2015 and March 31, 2014 are as follows (in millions):

	Defined Benefit Plans				Foreign Currency Translation Adjustments			Unrecognized Loss on Derivatives				Total
Balance at December 31, 2014	$	(240.6	)		$	(48.9	)	$	(7.4	)		$	(296.9	)
Other comprehensive income (loss) before reclassifications	3.1			(a)	(31.5		)	(2.0		)		(30.4		)
Amounts reclassified from accumulated other comprehensive income (loss)	0.8			(a)(b)	—			1.5			(c)	2.3
Net current period other comprehensive income (loss)	3.9				(31.5		)	(0.5		)		(28.1		)
Balance at March 31, 2015	$	(236.7	)		$	(80.4	)	$	(7.9	)		$	(325.0	)

	Defined Benefit Plans				Foreign Currency Translation Adjustments			Unrecognized Loss on Derivatives			Total
Balance at December 31, 2013	$	(197.9	)		$	(18.6	)	$	0.3		$	(216.2	)
Other comprehensive income before reclassifications	4.5			(a)	7.8			0.9			13.2
Amounts reclassified from accumulated other comprehensive income (loss)	0.6			(a)(b)	—			—		(c)	0.6
Net current period other comprehensive income	5.1				7.8			0.9			13.8
Balance at March 31, 2014	$	(192.8	)		$	(10.8	)	$	1.2		$	(202.4	)

(a)	The amounts are net of tax of $(1.6) million and $(0.4) million for other comprehensive income before reclassifications and the amounts reclassified from AOCI, respectively, for the three months ended March 31, 2015, and $(2.5) million and $(0.2) million, respectively, for the three months ended March 31, 2014.
(b)	The net amount reclassified from AOCI included $0.9 million in cost of goods sold (COGS) and $(0.1) million in selling, general & administrative expenses (SG&A) for the three months ended March 31, 2015 and $0.8 million in COGS and $(0.2) million in SG&A for the three months ended March 31, 2014.
(c)	The amounts reclassified from AOCI are included in COGS.

13

AMERICAN AXLE & MANUFACTURING HOLDINGS, INC.

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED)

11. SUPPLEMENTAL GUARANTOR CONDENSED CONSOLIDATING FINANCIAL STATEMENTS

Holdings has no significant assets other than its 100% ownership in AAM, Inc. and no direct subsidiaries other than AAM, Inc. The 7.75% Notes, 6.625% Notes, 6.25% Notes and 5.125% Notes are senior unsecured obligations of AAM Inc.; all of which are fully and unconditionally guaranteed by Holdings and substantially all domestic subsidiaries of AAM, Inc, which are 100% indirectly owned by Holdings.

These Condensed Consolidating Financial Statements are prepared under the equity method of accounting whereby the investments in subsidiaries are recorded at cost and adjusted for the parent’s share of the subsidiaries’ cumulative results of operations, capital contributions and distributions, and other equity changes.

Condensed Consolidating Statements of Income
Three Months Ended March 31,
(in millions)
	Holdings			AAM Inc.			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Elims			Consolidated
2015
Net sales
External	$	—		$	274.9		$	57.2		$	637.0		$	—		$	969.1
Intercompany	—			3.1			64.4			4.6			(72.1		)	—
Total net sales	—			278.0			121.6			641.6			(72.1		)	969.1
Cost of goods sold	—			270.9			100.7			516.8			(72.1		)	816.3
Gross profit	—			7.1			20.9			124.8			—			152.8
Selling, general and administrative expenses	—			59.5			—			9.0			—			68.5
Operating income (loss)	—			(52.4		)	20.9			115.8			—			84.3
Non-operating income (expense), net	—			(25.4		)	2.3			1.2			—			(21.9		)
Income (loss) before income taxes	—			(77.8		)	23.2			117.0			—			62.4
Income tax expense (benefit)	—			4.5			(0.4		)	5.1			—			9.2
Earnings (loss) from equity in subsidiaries	53.2			74.9			(6.0		)	—			(122.1		)	—
Net income (loss) before royalties and dividends	53.2			(7.4		)	17.6			111.9			(122.1		)	53.2
Royalties and dividends	—			60.6			—			(60.6		)	—			—
Net income after royalties and dividends	53.2			53.2			17.6			51.3			(122.1		)	53.2
Other comprehensive loss	(28.1		)	(28.1		)	(27.0		)	(28.7		)	83.8			(28.1		)
Comprehensive income (loss)	$	25.1		$	25.1		$	(9.4	)	$	22.6		$	(38.3	)	$	25.1

14

AMERICAN AXLE & MANUFACTURING HOLDINGS, INC.

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED)

	Holdings		AAM Inc.			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Elims			Consolidated
2014
Net sales
External	$	—	$	227.9		$	58.0		$	572.9		$	—		$	858.8
Intercompany	—		2.8			58.1			5.9			(66.8		)	—
Total net sales	—		230.7			116.1			578.8			(66.8		)	858.8
Cost of goods sold	—		231.9			99.6			472.2			(66.8		)	736.9
Gross profit (loss)	—		(1.2		)	16.5			106.6			—			121.9
Selling, general and administrative expenses	—		48.6			0.1			8.4			—			57.1
Operating income (loss)	—		(49.8		)	16.4			98.2			—			64.8
Non-operating income (expense), net	—		(25.8		)	2.7			(1.1		)	—			(24.2		)
Income (loss) before income taxes	—		(75.6		)	19.1			97.1			—			40.6
Income tax expense	—		0.4			—			6.6			—			7.0
Earnings (loss) from equity in subsidiaries	33.6		54.5			(9.2		)	—			(78.9		)	—
Net income (loss) before royalties and dividends	33.6		(21.5		)	9.9			90.5			(78.9		)	33.6
Royalties and dividends	—		55.1			—			(55.1		)	—			—
Net income after royalties and dividends	33.6		33.6			9.9			35.4			(78.9		)	33.6
Other comprehensive income	13.8		13.8			7.8			8.9			(30.5		)	13.8
Comprehensive income	$	47.4	$	47.4		$	17.7		$	44.3		$	(109.4	)	$	47.4

15

AMERICAN AXLE & MANUFACTURING HOLDINGS, INC.

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED)

Condensed Consolidating Balance Sheets
(in millions)
	Holdings		AAM Inc.		Guarantor Subsidiaries		Non-Guarantor Subsidiaries		Elims			Consolidated
March 31, 2015
Assets
Current assets
Cash and cash equivalents	$	—	$	80.1	$	—	$	125.6	$	—		$	205.7
Accounts receivable, net	—		165.9		30.4		471.7		—			668.0
Intercompany receivables	—		212.7		194.7		9.4		(416.8		)	—
Inventories, net	—		67.4		31.7		139.4		—			238.5
Other current assets	—		55.3		2.5		54.0		—			111.8
Total current assets	—		581.4		259.3		800.1		(416.8		)	1,224.0
Property, plant and equipment, net	—		224.8		86.9		728.3		—			1,040.0
Goodwill	—		—		147.9		6.4		—			154.3
Intercompany notes and accounts receivable	—		489.9		226.0		—		(715.9		)	—
Other assets and deferred charges	—		719.8		47.0		122.7		—			889.5
Investment in subsidiaries	463.1		1,173.8		—		—		(1,636.9		)	—
Total assets	$	463.1	$	3,189.7	$	767.1	$	1,657.5	$	(2,769.6	)	$	3,307.8
Liabilities and stockholders’ equity
Current liabilities
Current portion of long-term debt	$	—	$	10.3	$	—	$	3.6	$	—		$	13.9
Accounts payable	—		143.1		45.8		300.9		—			489.8
Intercompany payables	—		191.0		114.9		110.9		(416.8		)	—
Other current liabilities	—		108.4		5.2		114.7		—			228.3
Total current liabilities	—		452.8		165.9		530.1		(416.8		)	732.0
Intercompany notes and accounts payable	320.8		6.9		—		388.2		(715.9		)	—
Long-term debt	—		1,480.3		4.9		35.6		—			1,520.8
Investment in subsidiaries obligation	—		—		83.6		—		(83.6		)	—
Other long-term liabilities	—		786.6		0.7		125.4		—			912.7
Total liabilities	320.8		2,726.6		255.1		1,079.3		(1,216.3		)	3,165.5
Total stockholders’ equity	142.3		463.1		512.0		578.2		(1,553.3		)	142.3
Total liabilities and stockholders’ equity	$	463.1	$	3,189.7	$	767.1	$	1,657.5	$	(2,769.6	)	$	3,307.8

16

AMERICAN AXLE & MANUFACTURING HOLDINGS, INC.

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED)

	Holdings		AAM Inc.		Guarantor Subsidiaries		Non-Guarantor Subsidiaries		Elims			Consolidated
December 31, 2014
Assets
Current assets
Cash and cash equivalents	$	—	$	69.7	$	—	$	179.5	$	—		$	249.2
Accounts receivable, net	—		137.5		23.9		371.3		—			532.7
Intercompany receivables	—		231.0		174.1		10.0		(415.1		)	—
Inventories, net	—		64.9		32.3		151.6		—			248.8
Other current assets	—		53.6		2.6		52.6		—			108.8
Total current assets	—		556.7		232.9		765.0		(415.1		)	1,139.5
Property, plant and equipment, net	—		230.0		87.9		743.2		—			1,061.1
Goodwill	—		—		147.9		7.1		—			155.0
Intercompany notes and accounts receivable	—		509.4		219.1		—		(728.5		)	—
Other assets and deferred charges	—		736.6		45.7		121.3		—			903.6
Investment in subsidiaries	433.8		1,134.6		—		—		(1,568.4		)	—
Total assets	$	433.8	$	3,167.3	$	733.5	$	1,636.6	$	(2,712.0	)	$	3,259.2
Liabilities and stockholders’ equity
Current liabilities
Current portion of long-term debt	$	—	$	9.4	$	—	$	3.6	$	—		$	13.0
Accounts payable	—		127.3		38.9		278.1		—			444.3
Intercompany payables	—		177.0		105.3		132.8		(415.1		)	—
Other current liabilities	—		121.0		4.4		104.5		—			229.9
Total current liabilities	—		434.7		148.6		519.0		(415.1		)	687.2
Intercompany notes and accounts payable	320.4		6.9		—		401.2		(728.5		)	—
Long-term debt	—		1,483.1		4.9		35.4		—			1,523.4
Investment in subsidiaries obligation	—		—		53.8		—		(53.8		)	—
Other long-term liabilities	—		808.8		0.6		125.8		—			935.2
Total liabilities	320.4		2,733.5		207.9		1,081.4		(1,197.4		)	3,145.8
Total stockholders’ equity	113.4		433.8		525.6		555.2		(1,514.6		)	113.4
Total liabilities and stockholders’ equity	$	433.8	$	3,167.3	$	733.5	$	1,636.6	$	(2,712.0	)	$	3,259.2

17

AMERICAN AXLE & MANUFACTURING HOLDINGS, INC.

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED)

Condensed Consolidating Statements of Cash Flows
Three Months Ended March 31,
(in millions)
	Holdings			AAM Inc.			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Elims			Consolidated
2015
Net cash provided by (used in) operating activities	$	—		$	19.7		$	11.2		$	(24.5	)	$	—		$	6.4
Investing activities
Purchases of property, plant and equipment	—			(7.5		)	(2.1		)	(34.0		)	—			(43.6		)
Proceeds from sale of property, plant and equipment	—			0.1			—			—			—			0.1
Intercompany activity	—			—			(9.0		)	—			9.0			—
Net cash used in investing activities	—			(7.4		)	(11.1		)	(34.0		)	9.0			(43.5		)
Financing activities
Net debt activity	—			(2.0		)	(0.1		)	0.9			—			(1.2		)
Employee stock option exercises	—			0.4			—			—			—			0.4
Purchase of treasury stock	(0.3		)	—			—			—			—			(0.3		)
Intercompany activity	0.3			(0.3		)	—			9.0			(9.0		)	—
Net cash provided by (used in) financing activities	—			(1.9		)	(0.1		)	9.9			(9.0		)	(1.1		)
Effect of exchange rate changes on cash	—			—			—			(5.3		)	—			(5.3		)
Net increase (decrease) in cash and cash equivalents	—			10.4			—			(53.9		)	—			(43.5		)
Cash and cash equivalents at beginning of period	—			69.7			—			179.5			—			249.2
Cash and cash equivalents at end of period	$	—		$	80.1		$	—		$	125.6		$	—		$	205.7

18

AMERICAN AXLE & MANUFACTURING HOLDINGS, INC.

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED)

	Holdings			AAM Inc.			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Elims			Consolidated
2014
Net cash provided by (used in) operating activities	$	—		$	(25.8	)	$	14.8		$	(44.5	)	$	—		$	(55.5	)
Investing activities
Purchases of property, plant and equipment	—			(9.3		)	(2.7		)	(35.9		)	—			(47.9		)
Proceeds from sale of property, plant and equipment	—			7.7			—			0.2			—			7.9
Intercompany activity	—			—			(12.0		)	—			12.0			—
Net cash used in investing activities	—			(1.6		)	(14.7		)	(35.7		)	12.0			(40.0		)
Financing activities
Net debt activity	—			(0.1		)	(0.1		)	20.8			—			20.6
Debt issuance costs	—			(0.2		)	—			—			—			(0.2		)
Employee stock option exercises	—			0.6			—			—			—			0.6
Purchase of treasury stock	(0.3		)	—			—			—			—			(0.3		)
Intercompany activity	0.3			(0.3		)	—			12.0			(12.0		)	—
Net cash provided by (used in) financing activities	—			—			(0.1		)	32.8			(12.0		)	20.7
Effect of exchange rate changes on cash	—			—			—			0.4			—			0.4
Net decrease in cash and cash equivalents	—			(27.4		)	—			(47.0		)	—			(74.4		)
Cash and cash equivalents at beginning of period	—			36.9			—			117.1			—			154.0
Cash and cash equivalents at end of period	$	—		$	9.5		$	—		$	70.1		$	—		$	79.6

19

Item 2.  Management's Discussion and Analysis of Financial Condition and Results of Operations

This management’s discussion and analysis (MD&A) should be read in conjunction with the unaudited condensed consolidated financial statements and notes appearing elsewhere in this Quarterly Report and our Annual Report on Form 10-K for the year ended December 31, 2014.

Unless the context otherwise requires, references to "we," "our," "us" or "AAM" shall mean collectively (i) American Axle & Manufacturing Holdings, Inc. (Holdings), a Delaware corporation, and (ii) American Axle & Manufacturing, Inc. (AAM, Inc.), a Delaware corporation, and its direct and indirect subsidiaries.  Holdings has no subsidiaries other than AAM, Inc.

COMPANY OVERVIEW

We are a Tier I supplier to the automotive industry.  We manufacture, engineer, design and validate driveline and drivetrain systems and related components and chassis modules for light trucks, sport utility vehicles (SUVs), passenger cars, crossover vehicles and commercial vehicles.  Driveline and drivetrain systems include components that transfer power from the transmission and deliver it to the drive wheels.  Our driveline, drivetrain and related products include axles, chassis modules, driveshafts, power transfer units, transfer cases, chassis and steering components, driveheads, transmission parts, electric drive systems and metal-formed products. In addition to locations in the United States (U.S.) (Michigan, Ohio, Indiana and Pennsylvania), we also have offices or facilities in Brazil, China, Germany, India, Japan, Luxembourg, Mexico, Poland, Scotland, South Korea, Sweden and Thailand.

We are the principal supplier of driveline components to General Motors Company (GM) for its full-size rear-wheel drive (RWD) light trucks and SUVs manufactured in North America, supplying substantially all of GM’s rear axle and front four-wheel drive and all-wheel drive (4WD/AWD) axle requirements for these vehicle platforms.  Sales to GM were approximately 66% of our consolidated net sales in the first three months of 2015 and 2014 and 68% of our consolidated net sales for the full year 2014.

We are the sole-source supplier to GM for certain axles and other driveline products for the life of each GM vehicle program covered by Lifetime Program Contracts and Long Term Program Contracts (collectively, LPCs).  Substantially all of our sales to GM are made pursuant to the LPCs.  The LPCs have terms equal to the lives of the relevant vehicle programs or their respective derivatives, which typically run 5 to 7 years, and require us to remain competitive with respect to technology, design and quality.

We also supply driveline system products to FCA US LLC, formerly known as Chrysler Group LLC (Chrysler), for heavy-duty Ram full-size pickup trucks and its derivatives, as well as the AWD Jeep Cherokee and the AWD Chrysler 200.  Sales to Chrysler were approximately 20% of our total net sales in the first three months of 2015 as compared to 19% for the first three months of 2014 and 18% for the full-year 2014. In addition to GM and Chrysler, we supply driveline systems and other related components to Volkswagen AG (Volkswagen), Audi AG (Audi), Mack Trucks Inc. (Mack Truck), Mercedes-Benz, Harley-Davidson Inc., Honda Motor Co., Ltd., Nissan Motor Co., Ltd. (Nissan), PACCAR Inc., Jaguar Land Rover Limited (JLR), Daimler Truck, Ford Motor Company (Ford) and other original equipment manufacturers (OEMs) and Tier I supplier companies such as Jatco Ltd. and Hino Motors Ltd. Our net sales to customers other than GM increased by 14% to $328.9 million in the first three months of 2015 as compared to $287.8 million in the first three months of 2014.

20

RESULTS OF OPERATIONS –– THREE MONTHS ENDED MARCH 31, 2015 AS COMPARED TO THREE MONTHS ENDED MARCH 31, 2014

Net Sales  Net sales increased $110.3 million to $969.1 million in the first quarter of 2015 as compared to $858.8 million in the first quarter of 2014.  Our sales in the first quarter of 2015, as compared to the first quarter of 2014, reflect an increase of approximately 10.5% in production volumes for the North American light truck and SUV programs we currently support for GM and Chrysler. The increase in sales in the first quarter of 2015 also reflects higher sales supporting the passenger car vehicle segment which includes a global passenger car program for GM and Chrysler's AWD Jeep Cherokee.

Our content-per-vehicle (as measured by the dollar value of our products supporting our customers' North American light truck and SUV programs) increased to $1,676 in the first quarter of 2015 as compared to $1,655 in the first quarter of 2014. The increase primarily reflects an increase in our 4WD/AWD penetration rate, which increased to 71.4% in the first quarter of 2015 as compared to 67.5% in the first quarter of 2014.

Gross Profit   Gross profit increased to $152.8 million in the first quarter of 2015 as compared to $121.9 million in the first quarter of 2014.  Gross margin increased to 15.8% in the first quarter of 2015 as compared to 14.2% in the first quarter of 2014.  The increase in gross profit in the first quarter of 2015, as compared to the first quarter of 2014, primarily reflects the benefit of higher contribution margin on increased sales. Gross profit and margin in the first quarter of 2014 were adversely impacted by the timing of customer launch activity, which was partially offset by a gain of $4.1 million related to the sale of our Detroit Manufacturing Complex (DMC).

Selling, General and Administrative Expenses (SG&A)  SG&A (including research and development (R&D)) was $68.5 million or 7.1% of net sales in the first quarter of 2015 as compared to $57.1 million or 6.6% of net sales in the first quarter of 2014.  R&D, net of customer engineering, design and development (ED&D) recoveries, was $27.3 million in the first quarter of 2015 as compared to $25.8 million in the first quarter of 2014. The change in SG&A in the first quarter of 2015 as compared to the first quarter of 2014 is primarily due to increases in our salaried workforce, higher incentive compensation accruals and increased information technology-related costs, which include upgrades to our enterprise resource planning systems.

Operating Income  Operating income increased to $84.3 million in the first quarter of 2015 as compared to $64.8 million in the first quarter of 2014.  Operating margin increased to 8.7% in the first quarter of 2015 as compared to 7.5% in the first quarter of 2014.  The changes in operating income and operating margin were due to factors discussed in Gross Profit and SG&A above.

Interest Expense and Investment Income  Interest expense was $25.1 million in the first quarter of 2015 as compared to $25.0 million in the first quarter of 2014.  Investment income was $0.8 million in the first quarter of 2015 as compared to $0.3 million in the first quarter of 2014. 

The weighted-average interest rate of our long-term debt outstanding was 6.4% in the first quarter of 2015 and 6.3% in the first quarter of 2014.

Other Income, Net Other income, net, which includes the net effect of foreign exchange gains and losses and our proportionate share of earnings from equity in unconsolidated subsidiaries, was $2.4 million in the first quarter of 2015 and $0.5 million in the first quarter of 2014.

Income Tax Expense  Income tax expense was $9.2 million in the first quarter of 2015 as compared to $7.0 million in the first quarter of 2014.  Our effective income tax rate was 14.8% in the first quarter of 2015 as compared to 17.3% in the first quarter of 2014.  

Our income tax expense and effective tax rate for the three months ended March 31, 2015 and March 31, 2014 primarily reflect favorable foreign tax rates, along with our inability to realize a tax benefit for current foreign losses. Our income tax expense and effective tax rate for the three months ended March 31, 2015 also reflect a tax benefit of $1.0 million related to the settlement of the IRS audits for 2010 and 2011.

Net Income and Earnings Per Share (EPS) Net income increased to $53.2 million in the first quarter of 2015 as compared to $33.6 million in the first quarter of 2014. Diluted EPS increased to $0.68 in the first quarter of 2015 as compared to $0.44 in the first quarter of 2014. Net income and EPS for the first quarters of 2015 and 2014 were primarily impacted by the factors discussed in Net Sales, Gross Profit and SG&A above.

21

LIQUIDITY AND CAPITAL RESOURCES

Our primary liquidity needs are to fund capital expenditures, debt service obligations and our working capital requirements.  We believe that operating cash flow, available cash and cash equivalent balances and available committed borrowing capacity under our revolving credit facility will be sufficient to meet these needs. 

Operating Activities  In the first three months of 2015, net cash provided by operating activities increased to $6.4 million as compared to a use of $55.5 million in the first three months of 2014.  The following factors impacted cash provided by (used in) operating activities in the first three months of 2015 as compared to the first three months of 2014:

Accounts receivableAccounts receivable at March 31, 2015 and March 31, 2014 were $668.0 million and $654.1 million, respectively, as compared to $532.7 million and $458.5 million at December 31, 2014 and 2013, respectively. The change in accounts receivable balances during the first quarter of 2015 as compared to the first quarter of 2014 was primarily due to increased sales in 2015 and the timing of weekly payments from GM.

Deferred revenue In the first quarter of 2014, we reached an agreement with GM to increase installed capacity and adjust product mix for our largest vehicle program. As a result of this agreement, we received $32.8 million in 2014, of which $13.8 million was received in the first quarter of 2014.

Also in the first quarter of 2014, we reached an agreement with GM to recover certain costs related to the delay of another major product program. As a result of this agreement, we received $9.3 million in 2014, of which $5.7 million was received in the first quarter of 2014.

Interest paid Interest paid in the first three months of 2015 was $19.3 million as compared to $14.1 million in the first three months of 2014. The increase primarily relates to the timing of interest payments on our 5.125% Notes.

Income taxes Based on the status of the audits outside the U.S., and the protocol of finalizing audits by the relevant tax authorities, it is not possible to estimate the impact of changes, if any, to previously recorded uncertain tax positions or predict the timing of the conclusion of all ongoing audits with certainty. As of March 31, 2015 and December 31, 2014, we have recorded a liability for unrecognized income tax benefits and related interest and penalties of $60.8 million and $59.5 million, respectively. We anticipate that the current 2007 through 2009 audits with the Mexican tax authorities will be completed before the end of 2015 and will result in a cash payment to the tax authorities.

Although it is difficult to estimate with certainty the amount of an audit settlement for the years currently under audit, we do not expect the settlement will be materially different from what we have recorded in unrecognized tax benefits. We will continue to monitor the progress and conclusions of all ongoing audits and will adjust our estimated liability as necessary.

Pension and Other Postretirement Benefits  (OPEB)Due to the availability of our prefunding balances (previous contributions in excess of prior required pension contributions), we are not required to make any cash payments in 2015. We expect our cash payments for other postretirement benefit obligations in 2015, net of GM cost sharing, to be approximately $16 million.

Investing Activities  Capital expenditures were $43.6 million in the first three months of 2015 as compared to $47.9 million in the first three months of 2014.  We expect our capital spending to approximate 5% of sales, which includes support for our global program launches in 2015 and 2016 within our new and incremental business backlog.

In the first quarter of 2014, we sold our Detroit Manufacturing Complex and received net proceeds of $9.2 million related to this transaction. For the first three months of 2014, we classified $7.2 million of these proceeds, which represents the amount related to the land and building for which we have no future continuing involvement, in the Investing Activities section of our Condensed Consolidated Statement of Cash Flows.

Financing Activities  In the first three months of 2015, net cash used in financing activities was $1.1 million as compared to net cash provided by financing activities of $20.7 million in the first three months of 2014.  Total debt outstanding decreased $1.7 million in the first three months of 2015 to $1,534.7 million as compared to $1,536.4 million at year-end 2014, primarily as a result of principal payments on our term facility.

22

Revolving credit facility and term facility As of March 31, 2015, the revolving credit facility provided up to $523.5 million of revolving bank financing commitments through September 13, 2018.  At March 31, 2015, we had $505.5 million available under the revolving credit facility.  This availability reflects a reduction of $18.0 million for standby letters of credit issued against the facility.

The revolving credit facility provides back-up liquidity for our foreign credit facilities.  We intend to use the availability of long-term financing under the revolving credit facility to refinance any current maturities related to such debt agreements that are not otherwise refinanced on a long-term basis in their local markets, except where otherwise reclassified to current portion of long-term debt on our Condensed Consolidated Balance Sheet.

In the first quarter of both 2015 and 2014, we made a principal payments of $1.9 million on our term facility.

We utilize local currency credit facilities to finance the operations of certain foreign subsidiaries.  At March 31, 2015, $39.2 million was outstanding under these facilities and an additional $46.2 million was available.

CYCLICALITY AND SEASONALITY

Our operations are cyclical because they are directly related to worldwide automotive production, which is itself cyclical and dependent on general economic conditions and other factors.  Our business is also moderately seasonal as our major OEM customers historically have an extended shutdown of operations (typically 1-2 weeks) in conjunction with their model year changeover and an approximate one-week shutdown in December.  Accordingly, our quarterly results may reflect these trends.

LITIGATION AND ENVIRONMENTAL MATTERS

We are involved in various legal proceedings incidental to our business.  Although the outcome of these matters cannot be predicted with certainty, we do not believe that any of these matters, individually or in the aggregate, will have a material adverse effect on our financial condition, results of operations or cash flows.

We are subject to various federal, state, local and foreign environmental and occupational safety and health laws, regulations and ordinances, including those regulating air emissions, water discharge, waste management and environmental cleanup. We will continue to closely monitor our environmental conditions to ensure that we are in compliance with all laws, regulations and ordinances.  We have made, and will continue to make, capital and other expenditures (including recurring administrative costs) to comply with environmental requirements.  Such expenditures were not significant in the first quarter of 2015, and we do not expect such expenditures to be significant for the remainder of 2015.

23

Item 3.  Quantitative and Qualitative Disclosures About Market Risk

MARKET RISK

Our business and financial results are affected by fluctuations in world financial markets, including interest rates and currency exchange rates.  Our hedging policy has been developed to manage these risks to an acceptable level based on management’s judgment of the appropriate trade-off between risk, opportunity and cost.  We do not hold financial instruments for trading or speculative purposes.

Currency Exchange Risk  From time to time, we use foreign currency forward contracts to reduce the effects of fluctuations in exchange rates, primarily relating to the Mexican Peso, Euro, Swedish Krona, Polish Zloty and Pound Sterling.  At March 31, 2015, we had currency forward contracts with a notional amount of $108.2 million outstanding.  The potential decrease in fair value of foreign exchange contracts, assuming a 10% adverse change in the foreign currency exchange rates, would be approximately $9.9 million at March 31, 2015 and approximately $9.0 million at December 31, 2014.

Future business operations and opportunities, including the expansion of our business outside North America, may further increase the risk that cash flows resulting from these activities may be adversely affected by changes in currency exchange rates.  If and when appropriate, we intend to manage these risks by utilizing local currency funding of these expansions and various types of foreign exchange contracts.

Interest Rate Risk  We are exposed to variable interest rates on certain credit facilities.  From time to time, we have used interest rate hedging to reduce the effects of fluctuations in market interest rates.  As of March 31, 2015, there are no interest rate swaps in place.  The pre-tax earnings and cash flow impact of a one-percentage-point increase in interest rates (approximately 16% of our weighted-average interest rate at March 31, 2015) on our long-term debt outstanding at both March 31, 2015 and December 31, 2014 would be approximately $1.8 million, on an annualized basis.

Item 4.  Controls and Procedures

Disclosure Controls and Procedures

Under the direction of our Chief Executive Officer and Chief Financial Officer, we evaluated our disclosure controls and procedures and internal control over financial reporting and concluded that our disclosure controls and procedures (as defined in Rules 13a-15(e) or 15d-15(e) under the Securities Exchange Act of 1934 (the “Exchange Act”)) were effective as of March 31, 2015.

Changes in Internal Control over Financial Reporting

On January 1, 2015, we began the implementation of a new release of our global Oracle enterprise resource planning (ERP) system at our U.S. locations, which includes upgrades to many of our existing operating and financial systems. As part of this implementation, we have modified the design and documentation of our internal controls processes and procedures, where appropriate. We will continue to implement the upgrades to this ERP system throughout the remainder of 2015 and early 2016, at our remaining global locations.

As of December 31, 2014, a material weakness in the operating effectiveness of the Corporate Finance oversight of accounting for changes in certain accrued accounts payable balances at a single location existed.

During the fourth fiscal quarter of 2014, and in connection with the preparation of our consolidated annual financial statements for the year ended December 31, 2014 which occurred in the first fiscal quarter of 2015, we have implemented new procedures, including enhanced documentation, analysis and review of changes in our accrued accounts payable balances. We have retrained Finance executives as the location where the overstatement of accrued accounts payable originated, as well as those working in Corporate Finance, as to the importance of appropriate communication and review of non-routine changes in accruals so that any such changes can be properly assessed under generally accepted accounting principles.

Management believes that our remediation efforts have been effective with respect to our internal control over financial reporting and that the previous material weakness in our internal control over financial reporting no longer exists.

Except as described above, there were no changes in our internal control over financial reporting during the quarter ended March 31, 2015 that have materially affected, or are reasonably likely to materially affect, our internal control over financial reporting.

24

PART II.  OTHER  INFORMATION

Item 1A. Risk Factors

There were no material changes from the risk factors previously disclosed in our December 31, 2014 Form 10-K.

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds

In the first quarter of 2015, we withheld and repurchased shares of AAM stock to satisfy employee tax withholding obligations due upon the vesting of restricted stock units. The following table provides information about our equity security purchases during the quarter ended March, 31, 2015:

ISSUER PURCHASES OF EQUITY SECURITIES

Period	Total Number of Shares (Or Units) Purchased	Average Price Paid per Share (or Unit)		Total Number of Shares (or Units) Purchased as Part of Publicly Announced Plans or Programs	Maximum Number (or Approximate Dollar Value) of Shares (or Units) that May Yet Be Purchased Under the Plans or Programs
January 1 - January 31, 2015	—	$	—	—	—
February 1 - February 28, 2015	—	—		—	—
March 1 - March 31, 2015	14,444	24.17		—	—
Total	14,444	$	24.17	—	—

Item 6.  Exhibits

Exhibits required by Item 601 of Regulation S-K are listed in the Exhibit Index.

25

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

AMERICAN AXLE & MANUFACTURING HOLDINGS, INC.

(Registrant)

/s/ Michael K. Simonte

Michael K. Simonte

Executive Vice President & Chief Financial Officer

(also in the capacity of Chief Accounting Officer)

May 1, 2015

26

EXHIBIT INDEX

Number	Description of Exhibit
*31.1	Certification of David C. Dauch, Chairman of the Board, President & Chief Executive Officer Pursuant to Rule 13a-14(a) of the Securities Exchange Act
*31.2	Certification of Michael K. Simonte, Executive Vice President & Chief Financial Officer Pursuant to Rule 13a-14(a) of the Securities Exchange Act
*32	Certifications of David C. Dauch, Chairman of the Board, President & Chief Executive Officer and Michael K. Simonte, Executive Vice President & Chief Financial Officer Pursuant to 18 U.S.C. Section 1350, as Adopted Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002
**101.INS	XBRL Instance Document
**101.SCH	XBRL Taxonomy Extension Schema Document
**101.CAL	XBRL Taxonomy Extension Calculation Linkbase Document
**101.LAB	XBRL Taxonomy Extension Label Linkbase Document
**101.PRE	XBRL Taxonomy Extension Presentation Linkbase Document
**101.DEF	XBRL Taxonomy Extension Definition Linkbase Document

*	Filed herewith
**	Submitted electronically with this Report.

27

EX-31.1

EXHIBIT 31.1 - CERTIFICATION PURSUANT TO RULE 13a-14(a)

OF THE SECURITIES EXCHANGE ACT

I, David C. Dauch, certify that:

1. I have reviewed this Quarterly Report on Form 10-Q of American Axle & Manufacturing Holdings, Inc.;

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

4. The registrant's other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:

a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

b) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

c) Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

d) Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the registrant's most recent fiscal quarter that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and

5. The registrant's other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions):

a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize and report financial information; and

b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting.

Date: May 1, 2015

/s/ David C. Dauch

David C. Dauch

Chairman of the Board,

President & Chief Executive Officer

(Principal Executive Officer)

EX-31.2

EXHIBIT 31.2 - CERTIFICATION PURSUANT TO RULE 13a-14(a)

OF THE SECURITIES EXCHANGE ACT

I, Michael K. Simonte, certify that:

1. I have reviewed this Quarterly Report on Form 10-Q of American Axle & Manufacturing Holdings, Inc.;

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

4. The registrant's other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:

a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

b) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

c) Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

d) Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the registrant's most recent fiscal quarter that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and

5. The registrant's other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions):

a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize and report financial information; and

b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting.

Date: May 1, 2015

/s/ Michael K. Simonte

Michael K. Simonte

Executive Vice President & Chief Financial Officer

(Principal Financial Officer)

EX-32

EXHIBIT 32 - CERTIFICATIONS PURSUANT TO

18 U.S.C. SECTION 1350, AS ADOPTED PURSUANT TO

SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002

In connection with the Quarterly Report of American Axle & Manufacturing Holdings, Inc. (Issuer) on Form 10-Q for the period ending March 31, 2015 as filed with the Securities and Exchange Commission on the date hereof (Report), I, David C. Dauch, Chairman of the Board, President & Chief Executive Officer of the Issuer, and I, Michael K. Simonte, Executive Vice President & Chief Financial Officer of the Issuer, certify, pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that:

(1)  The Report fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934; and

(2)  The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Issuer.

/s/ David C. Dauch	/s/  Michael K. Simonte
David C. Dauch	Michael K. Simonte
Chairman of the Board, President &	Executive Vice President &
Chief Executive Officer	Chief Financial Officer
May 1, 2015	May 1, 2015

XML

Reclassifications out of Accumulated Other Comprehensive Income (Loss) (Details) (USD $) In Millions, unless otherwise specified	3 Months Ended
	Mar. 31, 2015	Mar. 31, 2014	Dec. 31, 2014	Dec. 31, 2013
Defined benefit plans	$ (236.7)	$ (192.8)	$ (240.6)	$ (197.9)
Defined benefit plans, other comprehensive income (loss), before reclassifications	3.1	4.5
Defined benefit plans, amounts reclassified from accumulated other comprehensive income (loss)	0.8	0.6
Defined benefit plans, net current period other comprehensive income (loss)	3.9	5.1
Foreign currency translation adjustments	(80.4)	(10.8)	(48.9)	(18.6)
Foreign currency translation adjustments, other comprehensive income (loss) arising during period, net of tax	(31.5)	7.8
Foreign currency translation adjustments, other comprehensive income (loss), reclassification adjustment, net of tax	0	0
Foreign currency translation adjustments	(31.5)	7.8
Unrecognized loss on derivatives	(7.9)	1.2	(7.4)	0.3
Unrecognized gain on derivatives, other comprehensive income (loss) arising during period, net of tax	(2.0)	0.9
Unrecognized gain on derivatives, other comprehensive income (loss), reclassification adjustment, net of tax	1.5	0
Change in derivatives	(0.5)	0.9
Accumulated other comprehensive income (loss), net of tax	(325.0)	(202.4)	(296.9)	(216.2)
Other comprehensive income (loss) arising during period, total, net of tax	(30.4)	13.2
Other comprehensive income (loss), reclassification adjustments, total, net of tax	2.3	0.6
Other comprehensive income (loss)	(28.1)	13.8
Other Comprehensive (Income) Loss, Reclassification Adjustment from AOCI, Pension and Other Postretirement Benefit Plans, Tax	(0.4)	(0.2)
Other Comprehensive (Income) Loss, Pension and Other Postretirement Benefit Plans, before Reclassification Adjustments, Tax	(1.6)	(2.5)
Cost of Sales [Member]
Defined benefit plans, amounts reclassified from accumulated other comprehensive income (loss)	0.9	0.8
Selling, General and Administrative Expenses [Member]
Defined benefit plans, amounts reclassified from accumulated other comprehensive income (loss)	$ (0.1)	$ (0.2)

XML

Fair Value of Debt (Details) (Fair Value, Inputs, Level 2 [Member], USD $) In Millions, unless otherwise specified	Mar. 31, 2015	Dec. 31, 2014
Revolving Credit Facility [Member] | Carrying (Reported) Amount, Fair Value Disclosure [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Notes payable	$ 0	$ 0
Revolving Credit Facility [Member] | Estimate of Fair Value, Fair Value Disclosure [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Notes payable	0	0
Term Facility [Member] | Carrying (Reported) Amount, Fair Value Disclosure [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Notes payable	140.6	142.5
Term Facility [Member] | Estimate of Fair Value, Fair Value Disclosure [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Notes payable	139.2	141.1
7.75% Notes [Member] | Carrying (Reported) Amount, Fair Value Disclosure [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Notes payable	200.0	200.0
7.75% Notes [Member] | Estimate of Fair Value, Fair Value Disclosure [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Notes payable	227.0	224.0
6.625% Notes [Member] | Carrying (Reported) Amount, Fair Value Disclosure [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Notes payable	550.0	550.0
6.625% Notes [Member] | Estimate of Fair Value, Fair Value Disclosure [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Notes payable	589.2	583.0
6.25% Notes [Member] | Carrying (Reported) Amount, Fair Value Disclosure [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Notes payable	400.0	400.0
6.25% Notes [Member] | Estimate of Fair Value, Fair Value Disclosure [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Notes payable	422.0	419.0
5.125% Notes [Member] | Carrying (Reported) Amount, Fair Value Disclosure [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Notes payable	200.0	200.0
5.125% Notes [Member] | Estimate of Fair Value, Fair Value Disclosure [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Notes payable	$ 205.2	$ 202.6

XML

Product Warranties (Tables)

3 Months Ended

Mar. 31, 2015

Commitments and Contingencies [Abstract]

Schedule of Product Warranty Liability [Table Text Block]

The following table provides a reconciliation of changes in the product warranty liability:

	Three Months Ended
	March 31,
	2015			2014
	(in millions)
Beginning balance	$	12.4		$	14.3
Accruals	4.5			4.2
Settlements	(0.2		)	(0.8		)
Adjustment to prior period accruals, net	1.4			0.2
Foreign currency translation	(0.2		)	0.1
Ending balance	$	17.9		$	18.0

XML

Supplemental Guarantor Condensed Consolidating Statements of Cash Flows (Details) (USD $) In Millions, unless otherwise specified	3 Months Ended
	Mar. 31, 2015	Mar. 31, 2014
Net cash provided by (used in) operating activities	$ 6.4	$ (55.5)
Investing activities
Purchases of property, plant and equipment	(43.6)	(47.9)
Proceeds from sale of property, plant and equipment	0.1	7.9
Intercompany Activity	0	0
Net cash used in investing activities	(43.5)	(40.0)
Financing Activities
Net debt activity	(1.2)	20.6
Debt issuance costs	0	(0.2)
Employee stock option exercises	0.4	0.6
Purchase of treasury stock	(0.3)	(0.3)
Intercompany Activity	0	0
Net cash provided by (used in) financing activities	(1.1)	20.7
Effect of exchange rate changes on cash	(5.3)	0.4
Net increase (decrease) in cash and cash equivalents	43.5	74.4
Cash and cash equivalents at beginning of period	249.2	154.0
Cash and cash equivalents at end of period	205.7	79.6
Holdings [Member]
Net cash provided by (used in) operating activities	0	0
Investing activities
Purchases of property, plant and equipment	0	0
Proceeds from sale of property, plant and equipment	0	0
Intercompany Activity	0	0
Net cash used in investing activities	0	0
Financing Activities
Net debt activity	0	0
Debt issuance costs		0
Employee stock option exercises	0	0
Purchase of treasury stock	(0.3)	(0.3)
Intercompany Activity	0.3	0.3
Net cash provided by (used in) financing activities	0	0
Effect of exchange rate changes on cash	0	0
Net increase (decrease) in cash and cash equivalents	0	0
Cash and cash equivalents at beginning of period	0	0
Cash and cash equivalents at end of period	0	0
AAM Inc. [Member]
Net cash provided by (used in) operating activities	19.7	(25.8)
Investing activities
Purchases of property, plant and equipment	(7.5)	(9.3)
Proceeds from sale of property, plant and equipment	0.1	7.7
Intercompany Activity	0	0
Net cash used in investing activities	(7.4)	(1.6)
Financing Activities
Net debt activity	(2.0)	(0.1)
Debt issuance costs		(0.2)
Employee stock option exercises	0.4	0.6
Purchase of treasury stock	0	0
Intercompany Activity	(0.3)	(0.3)
Net cash provided by (used in) financing activities	(1.9)	0
Effect of exchange rate changes on cash	0	0
Net increase (decrease) in cash and cash equivalents	(10.4)	27.4
Cash and cash equivalents at beginning of period	69.7	36.9
Cash and cash equivalents at end of period	80.1	9.5
Guarantor Subsidiaries [Member]
Net cash provided by (used in) operating activities	11.2	14.8
Investing activities
Purchases of property, plant and equipment	(2.1)	(2.7)
Proceeds from sale of property, plant and equipment	0	0
Intercompany Activity	(9.0)	(12.0)
Net cash used in investing activities	(11.1)	(14.7)
Financing Activities
Net debt activity	(0.1)	(0.1)
Debt issuance costs		0
Employee stock option exercises	0	0
Purchase of treasury stock	0	0
Intercompany Activity	0	0
Net cash provided by (used in) financing activities	(0.1)	(0.1)
Effect of exchange rate changes on cash	0	0
Net increase (decrease) in cash and cash equivalents	0	0
Cash and cash equivalents at beginning of period	0	0
Cash and cash equivalents at end of period	0	0
Non-Guarantor Subsidiaries [Member]
Net cash provided by (used in) operating activities	(24.5)	(44.5)
Investing activities
Purchases of property, plant and equipment	(34.0)	(35.9)
Proceeds from sale of property, plant and equipment	0	0.2
Intercompany Activity	0	0
Net cash used in investing activities	(34.0)	(35.7)
Financing Activities
Net debt activity	0.9	20.8
Debt issuance costs		0
Employee stock option exercises	0	0
Purchase of treasury stock	0	0
Intercompany Activity	9.0	12.0
Net cash provided by (used in) financing activities	9.9	32.8
Effect of exchange rate changes on cash	(5.3)	0.4
Net increase (decrease) in cash and cash equivalents	53.9	47.0
Cash and cash equivalents at beginning of period	179.5	117.1
Cash and cash equivalents at end of period	125.6	70.1
Elims [Member]
Net cash provided by (used in) operating activities	0	0
Investing activities
Purchases of property, plant and equipment	0	0
Proceeds from sale of property, plant and equipment	0	0
Intercompany Activity	9.0	12.0
Net cash used in investing activities	9.0	12.0
Financing Activities
Net debt activity	0	0
Debt issuance costs		0
Employee stock option exercises	0	0
Purchase of treasury stock	0	0
Intercompany Activity	(9.0)	(12.0)
Net cash provided by (used in) financing activities	(9.0)	(12.0)
Effect of exchange rate changes on cash	0	0
Net increase (decrease) in cash and cash equivalents	0	0
Cash and cash equivalents at beginning of period	0	0
Cash and cash equivalents at end of period	$ 0	$ 0

XML

Income Taxes (Narrative) (Details) (USD $) In Millions, unless otherwise specified	3 Months Ended
	Mar. 31, 2015	Mar. 31, 2014	Dec. 31, 2014
Income tax expense	$ 9.2	$ 7.0
Effective income tax rate, continuing operations	14.80%	17.30%
Income tax benefit	1.0
Unrecognized tax benefit liability, including penalties and accrued interest	$ 60.8		$ 59.5

XML

Inventories

3 Months Ended

Mar. 31, 2015

Inventories [Abstract]

Inventory Disclosure [Text Block]

2. INVENTORIES

We state our inventories at the lower of cost or market.  The cost of our inventories is determined using the FIFO method.  When we determine that our gross inventories exceed usage requirements, or if inventories become obsolete or otherwise not saleable, we record a provision for such loss as a component of our inventory accounts.

Inventories consist of the following: 

	March 31, 2015			December 31, 2014
	(in millions)
Raw materials and work-in-progress	$	234.2		$	243.8
Finished goods	32.6			32.9
Gross inventories	266.8			276.7
Inventory valuation reserves	(28.3		)	(27.9		)
Inventories, net	$	238.5		$	248.8

XML

Organization and Basis of Presentation Effect of New Accounting Standards (Details) (USD $) In Millions, unless otherwise specified	Dec. 31, 2015
Effect of New Accounting Standards [Abstract]
Quantitative Effect of New Accounting Standard - Debt Issuance Costs	$ 15.5

XML

Supplemental Guarantor Condensed Consolidating Financial Statements (Tables)

3 Months Ended

Mar. 31, 2015

Supplemental Guarantor Condensed Consolidating Financial Statements [Abstract]

Supplemental Guarantor Consolidating Income Statement [Table Text Block]

	Holdings		AAM Inc.			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Elims			Consolidated
2014
Net sales
External	$	—	$	227.9		$	58.0		$	572.9		$	—		$	858.8
Intercompany	—		2.8			58.1			5.9			(66.8		)	—
Total net sales	—		230.7			116.1			578.8			(66.8		)	858.8
Cost of goods sold	—		231.9			99.6			472.2			(66.8		)	736.9
Gross profit (loss)	—		(1.2		)	16.5			106.6			—			121.9
Selling, general and administrative expenses	—		48.6			0.1			8.4			—			57.1
Operating income (loss)	—		(49.8		)	16.4			98.2			—			64.8
Non-operating income (expense), net	—		(25.8		)	2.7			(1.1		)	—			(24.2		)
Income (loss) before income taxes	—		(75.6		)	19.1			97.1			—			40.6
Income tax expense	—		0.4			—			6.6			—			7.0
Earnings (loss) from equity in subsidiaries	33.6		54.5			(9.2		)	—			(78.9		)	—
Net income (loss) before royalties and dividends	33.6		(21.5		)	9.9			90.5			(78.9		)	33.6
Royalties and dividends	—		55.1			—			(55.1		)	—			—
Net income after royalties and dividends	33.6		33.6			9.9			35.4			(78.9		)	33.6
Other comprehensive income	13.8		13.8			7.8			8.9			(30.5		)	13.8
Comprehensive income	$	47.4	$	47.4		$	17.7		$	44.3		$	(109.4	)	$	47.4

Condensed Consolidating Statements of Income
Three Months Ended March 31,
(in millions)
	Holdings			AAM Inc.			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Elims			Consolidated
2015
Net sales
External	$	—		$	274.9		$	57.2		$	637.0		$	—		$	969.1
Intercompany	—			3.1			64.4			4.6			(72.1		)	—
Total net sales	—			278.0			121.6			641.6			(72.1		)	969.1
Cost of goods sold	—			270.9			100.7			516.8			(72.1		)	816.3
Gross profit	—			7.1			20.9			124.8			—			152.8
Selling, general and administrative expenses	—			59.5			—			9.0			—			68.5
Operating income (loss)	—			(52.4		)	20.9			115.8			—			84.3
Non-operating income (expense), net	—			(25.4		)	2.3			1.2			—			(21.9		)
Income (loss) before income taxes	—			(77.8		)	23.2			117.0			—			62.4
Income tax expense (benefit)	—			4.5			(0.4		)	5.1			—			9.2
Earnings (loss) from equity in subsidiaries	53.2			74.9			(6.0		)	—			(122.1		)	—
Net income (loss) before royalties and dividends	53.2			(7.4		)	17.6			111.9			(122.1		)	53.2
Royalties and dividends	—			60.6			—			(60.6		)	—			—
Net income after royalties and dividends	53.2			53.2			17.6			51.3			(122.1		)	53.2
Other comprehensive loss	(28.1		)	(28.1		)	(27.0		)	(28.7		)	83.8			(28.1		)
Comprehensive income (loss)	$	25.1		$	25.1		$	(9.4	)	$	22.6		$	(38.3	)	$	25.1

Supplemental Guarantor Consolidating Balance Sheet [Table Text Block]

	Holdings		AAM Inc.		Guarantor Subsidiaries		Non-Guarantor Subsidiaries		Elims			Consolidated
December 31, 2014
Assets
Current assets
Cash and cash equivalents	$	—	$	69.7	$	—	$	179.5	$	—		$	249.2
Accounts receivable, net	—		137.5		23.9		371.3		—			532.7
Intercompany receivables	—		231.0		174.1		10.0		(415.1		)	—
Inventories, net	—		64.9		32.3		151.6		—			248.8
Other current assets	—		53.6		2.6		52.6		—			108.8
Total current assets	—		556.7		232.9		765.0		(415.1		)	1,139.5
Property, plant and equipment, net	—		230.0		87.9		743.2		—			1,061.1
Goodwill	—		—		147.9		7.1		—			155.0
Intercompany notes and accounts receivable	—		509.4		219.1		—		(728.5		)	—
Other assets and deferred charges	—		736.6		45.7		121.3		—			903.6
Investment in subsidiaries	433.8		1,134.6		—		—		(1,568.4		)	—
Total assets	$	433.8	$	3,167.3	$	733.5	$	1,636.6	$	(2,712.0	)	$	3,259.2
Liabilities and stockholders’ equity
Current liabilities
Current portion of long-term debt	$	—	$	9.4	$	—	$	3.6	$	—		$	13.0
Accounts payable	—		127.3		38.9		278.1		—			444.3
Intercompany payables	—		177.0		105.3		132.8		(415.1		)	—
Other current liabilities	—		121.0		4.4		104.5		—			229.9
Total current liabilities	—		434.7		148.6		519.0		(415.1		)	687.2
Intercompany notes and accounts payable	320.4		6.9		—		401.2		(728.5		)	—
Long-term debt	—		1,483.1		4.9		35.4		—			1,523.4
Investment in subsidiaries obligation	—		—		53.8		—		(53.8		)	—
Other long-term liabilities	—		808.8		0.6		125.8		—			935.2
Total liabilities	320.4		2,733.5		207.9		1,081.4		(1,197.4		)	3,145.8
Total stockholders’ equity	113.4		433.8		525.6		555.2		(1,514.6		)	113.4
Total liabilities and stockholders’ equity	$	433.8	$	3,167.3	$	733.5	$	1,636.6	$	(2,712.0	)	$	3,259.2

Condensed Consolidating Balance Sheets
(in millions)
	Holdings		AAM Inc.		Guarantor Subsidiaries		Non-Guarantor Subsidiaries		Elims			Consolidated
March 31, 2015
Assets
Current assets
Cash and cash equivalents	$	—	$	80.1	$	—	$	125.6	$	—		$	205.7
Accounts receivable, net	—		165.9		30.4		471.7		—			668.0
Intercompany receivables	—		212.7		194.7		9.4		(416.8		)	—
Inventories, net	—		67.4		31.7		139.4		—			238.5
Other current assets	—		55.3		2.5		54.0		—			111.8
Total current assets	—		581.4		259.3		800.1		(416.8		)	1,224.0
Property, plant and equipment, net	—		224.8		86.9		728.3		—			1,040.0
Goodwill	—		—		147.9		6.4		—			154.3
Intercompany notes and accounts receivable	—		489.9		226.0		—		(715.9		)	—
Other assets and deferred charges	—		719.8		47.0		122.7		—			889.5
Investment in subsidiaries	463.1		1,173.8		—		—		(1,636.9		)	—
Total assets	$	463.1	$	3,189.7	$	767.1	$	1,657.5	$	(2,769.6	)	$	3,307.8
Liabilities and stockholders’ equity
Current liabilities
Current portion of long-term debt	$	—	$	10.3	$	—	$	3.6	$	—		$	13.9
Accounts payable	—		143.1		45.8		300.9		—			489.8
Intercompany payables	—		191.0		114.9		110.9		(416.8		)	—
Other current liabilities	—		108.4		5.2		114.7		—			228.3
Total current liabilities	—		452.8		165.9		530.1		(416.8		)	732.0
Intercompany notes and accounts payable	320.8		6.9		—		388.2		(715.9		)	—
Long-term debt	—		1,480.3		4.9		35.6		—			1,520.8
Investment in subsidiaries obligation	—		—		83.6		—		(83.6		)	—
Other long-term liabilities	—		786.6		0.7		125.4		—			912.7
Total liabilities	320.8		2,726.6		255.1		1,079.3		(1,216.3		)	3,165.5
Total stockholders’ equity	142.3		463.1		512.0		578.2		(1,553.3		)	142.3
Total liabilities and stockholders’ equity	$	463.1	$	3,189.7	$	767.1	$	1,657.5	$	(2,769.6	)	$	3,307.8

Supplemental Guarantor Consolidating Statement of Cash Flows [Table Text Block]

	Holdings			AAM Inc.			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Elims			Consolidated
2014
Net cash provided by (used in) operating activities	$	—		$	(25.8	)	$	14.8		$	(44.5	)	$	—		$	(55.5	)
Investing activities
Purchases of property, plant and equipment	—			(9.3		)	(2.7		)	(35.9		)	—			(47.9		)
Proceeds from sale of property, plant and equipment	—			7.7			—			0.2			—			7.9
Intercompany activity	—			—			(12.0		)	—			12.0			—
Net cash used in investing activities	—			(1.6		)	(14.7		)	(35.7		)	12.0			(40.0		)
Financing activities
Net debt activity	—			(0.1		)	(0.1		)	20.8			—			20.6
Debt issuance costs	—			(0.2		)	—			—			—			(0.2		)
Employee stock option exercises	—			0.6			—			—			—			0.6
Purchase of treasury stock	(0.3		)	—			—			—			—			(0.3		)
Intercompany activity	0.3			(0.3		)	—			12.0			(12.0		)	—
Net cash provided by (used in) financing activities	—			—			(0.1		)	32.8			(12.0		)	20.7
Effect of exchange rate changes on cash	—			—			—			0.4			—			0.4
Net decrease in cash and cash equivalents	—			(27.4		)	—			(47.0		)	—			(74.4		)
Cash and cash equivalents at beginning of period	—			36.9			—			117.1			—			154.0
Cash and cash equivalents at end of period	$	—		$	9.5		$	—		$	70.1		$	—		$	79.6

Condensed Consolidating Statements of Cash Flows
Three Months Ended March 31,
(in millions)
	Holdings			AAM Inc.			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Elims			Consolidated
2015
Net cash provided by (used in) operating activities	$	—		$	19.7		$	11.2		$	(24.5	)	$	—		$	6.4
Investing activities
Purchases of property, plant and equipment	—			(7.5		)	(2.1		)	(34.0		)	—			(43.6		)
Proceeds from sale of property, plant and equipment	—			0.1			—			—			—			0.1
Intercompany activity	—			—			(9.0		)	—			9.0			—
Net cash used in investing activities	—			(7.4		)	(11.1		)	(34.0		)	9.0			(43.5		)
Financing activities
Net debt activity	—			(2.0		)	(0.1		)	0.9			—			(1.2		)
Employee stock option exercises	—			0.4			—			—			—			0.4
Purchase of treasury stock	(0.3		)	—			—			—			—			(0.3		)
Intercompany activity	0.3			(0.3		)	—			9.0			(9.0		)	—
Net cash provided by (used in) financing activities	—			(1.9		)	(0.1		)	9.9			(9.0		)	(1.1		)
Effect of exchange rate changes on cash	—			—			—			(5.3		)	—			(5.3		)
Net increase (decrease) in cash and cash equivalents	—			10.4			—			(53.9		)	—			(43.5		)
Cash and cash equivalents at beginning of period	—			69.7			—			179.5			—			249.2
Cash and cash equivalents at end of period	$	—		$	80.1		$	—		$	125.6		$	—		$	205.7

XML

Inventories (Details) (USD $) In Millions, unless otherwise specified	Mar. 31, 2015	Dec. 31, 2014
Raw materials and work-in-progress	$ 234.2	$ 243.8
Finished goods	32.6	32.9
Gross inventories	266.8	276.7
Inventory valuation reserves	(28.3)	(27.9)
Inventories, net	$ 238.5	$ 248.8

XML

Long-Term Debt (Details) (USD $) In Millions, unless otherwise specified	3 Months Ended
	Mar. 31, 2015	Mar. 31, 2014	Dec. 31, 2014
Debt Instrument [Line Items]
Debt, Long-term and Short-term, Combined Amount	$ 1,534.7		$ 1,536.4
Current portion of long-term debt	13.9		13.0
Long-term debt	1,520.8		1,523.4
Long-term debt, weighted average interest rate	6.40%		6.40%
Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Line of Credit Facility, Amount Outstanding	0		0
Line of credit facility, maximum borrowing capacity	523.5
Line of credit facility, remaining borrowing capacity	505.5
Secured Debt [Member] | Term Facility [Member]
Debt Instrument [Line Items]
Notes payable	140.6		142.5
Debt Instrument, Periodic Payment, Principal	1.9	1.9
Unsecured Debt [Member] | 7.75% Notes [Member]
Debt Instrument [Line Items]
Notes payable	200.0		200.0
Unsecured Debt [Member] | 6.625% Notes [Member]
Debt Instrument [Line Items]
Notes payable	550.0		550.0
Unsecured Debt [Member] | 6.25% Notes [Member]
Debt Instrument [Line Items]
Notes payable	400.0		400.0
Unsecured Debt [Member] | 5.125% Notes [Member]
Debt Instrument [Line Items]
Notes payable	200.0		200.0
Foreign Credit Facilities [Member]
Debt Instrument [Line Items]
Line of Credit Facility, Amount Outstanding	39.2		38.9
Notes payable	39.2
Debt instrument, unused borrowing capacity, amount	46.2
Capital Lease Obligations [Member]
Debt Instrument [Line Items]
Capital lease obligations	4.9		5.0
Class D [Member] | Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Line of credit facility, standby letters of credit issued against the facility	$ 18.0

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Organization and Basis of Presentation

3 Months Ended

Mar. 31, 2015

Organization and Basis of Presentation [Abstract]

Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block]

1. ORGANIZATION AND BASIS OF PRESENTATION

Organization American Axle & Manufacturing Holdings, Inc. (Holdings) and its subsidiaries (collectively, we, our, us or AAM) is a Tier I supplier to the automotive industry. We manufacture, engineer, design and validate driveline and drivetrain systems and related components and chassis modules for light trucks, sport utility vehicles (SUVs), passenger cars, crossover vehicles and commercial vehicles. Driveline and drivetrain systems include components that transfer power from the transmission and deliver it to the drive wheels. Our driveline, drivetrain and related products include axles, chassis modules, driveshafts, power transfer units, transfer cases, chassis and steering components, driveheads, transmission parts, electric drive systems and metal-formed products. In addition to locations in the United States (U.S.) (Michigan, Ohio, Indiana and Pennsylvania), we also have offices or facilities in Brazil, China, Germany, India, Japan, Luxembourg, Mexico, Poland, Scotland, South Korea, Sweden and Thailand.

Basis of PresentationWe have prepared the accompanying interim condensed consolidated financial statements in accordance with the instructions to Form 10-Q under the Securities Exchange Act of 1934.  These condensed consolidated financial statements are unaudited but include all normal recurring adjustments, which we consider necessary for a fair presentation of the information set forth herein.  Results of operations for the periods presented are not necessarily indicative of the results for the full fiscal year.

The balance sheet at December 31, 2014 presented herein has been derived from the audited consolidated financial statements at that date but does not include all of the information and footnotes required by accounting principles generally accepted in the United States of America (GAAP) for complete consolidated financial statements.

In order to prepare the accompanying interim condensed consolidated financial statements, we are required to make estimates and assumptions that affect the reported amounts and disclosures in our interim condensed consolidated financial statements.  Actual results could differ from those estimates.

For further information, refer to the audited consolidated financial statements and notes included in our Annual Report on Form 10-K for the year ended December 31, 2014.

Effect of New Accounting Standards On April 7, 2015, the Financial Accounting Standards Board (FASB) issued an accounting standards update (ASU) which changes the presentation of debt issuance costs in financial statements. Under the ASU, an entity would present such costs in the balance sheet as a direct deduction of the related debt liability rather than as an asset. Amortization of the costs will continue to be reported as interest expense. This ASU becomes effective for AAM at the beginning of our 2016 fiscal year and early adoption is permitted. We estimate the effect of implementing this ASU on our consolidated financial statements would reduce both our other assets and deferred charges and long-term debt by approximately $15.5 million at December 31, 2015.

In 2014, new accounting guidance was issued that outlines a single comprehensive model for entities to use in accounting for revenue arising from contracts with customers and supersedes most current revenue recognition guidance, including industry-specific guidance. The guidance is based on the principle that an entity should recognize revenue to depict the transfer of goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services.  The guidance also requires additional disclosure about the nature, amount, timing and uncertainty of revenue and cash flows arising from customer contracts, including significant judgments and changes in judgments and assets recognized from costs incurred to fulfill a contract.  Entities have the option of using either a full retrospective or a modified retrospective approach for the adoption of the new standard.  This guidance becomes effective for AAM at the beginning of our 2017 fiscal year, however on April 1, 2015, the FASB proposed to defer the effective date of this revenue recognition guidance by one year. We are currently assessing the impact that this standard will have on our consolidated financial statements.

XML

Fair Value of Assets and Liabilities Measured on a Recurring Basis (Details) (USD $) In Millions, unless otherwise specified	Mar. 31, 2015	Dec. 31, 2014
Carrying (Reported) Amount, Fair Value Disclosure [Member] | Fair Value, Inputs, Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents, at carrying value	$ 29.0	$ 35.3
Portion at Fair Value, Fair Value Disclosure [Member] | Fair Value, Inputs, Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents, at fair value	29.0	35.3
Accrued Liabilities [Member] | Carrying (Reported) Amount, Fair Value Disclosure [Member] | Fair Value, Inputs, Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Foreign Currency Contracts, Liability, Fair Value Disclosure	8.3	8.3
Accrued Liabilities [Member] | Estimate of Fair Value, Fair Value Disclosure [Member] | Fair Value, Inputs, Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Foreign Currency Contracts, Liability, Fair Value Disclosure	8.3	8.3
Other Noncurrent Liabilities [Member] | Carrying (Reported) Amount, Fair Value Disclosure [Member] | Fair Value, Inputs, Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Foreign Currency Contracts, Liability, Fair Value Disclosure	0.3	0.1
Other Noncurrent Liabilities [Member] | Estimate of Fair Value, Fair Value Disclosure [Member] | Fair Value, Inputs, Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Foreign Currency Contracts, Liability, Fair Value Disclosure	$ 0.3	$ 0.1

XML

Supplemental Guarantor Condensed Consolidating Statements of Income (Details) (USD $) In Millions, unless otherwise specified	3 Months Ended
	Mar. 31, 2015	Mar. 31, 2014
Net sales
External	$ 969.1	$ 858.8
Intercompany	0	0
Total net sales	969.1	858.8
Cost of goods sold	816.3	736.9
Gross profit	152.8	121.9
Selling, general and administrative expenses	68.5	57.1
Operating income (loss)	(84.3)	(64.8)
Non-operating income (expense), net	(21.9)	(24.2)
Income (loss) before income taxes	62.4	40.6
Income tax expense (benefit)	9.2	7.0
Earnings (loss) from equity in subsidiaries	0	0
Net income (loss) before royalties and dividends	53.2	33.6
Royalties and dividends	0	0
Net income after royalties and dividends	53.2	33.6
Other comprehensive income (loss)	(28.1)	13.8
Comprehensive income (loss)	25.1	47.4
Holdings [Member]
Net sales
External	0	0
Intercompany	0	0
Total net sales	0	0
Cost of goods sold	0	0
Gross profit	0	0
Selling, general and administrative expenses	0	0
Operating income (loss)	0	0
Non-operating income (expense), net	0	0
Income (loss) before income taxes	0	0
Income tax expense (benefit)	0	0
Earnings (loss) from equity in subsidiaries	53.2	33.6
Net income (loss) before royalties and dividends	53.2	33.6
Royalties and dividends	0	0
Net income after royalties and dividends	53.2	33.6
Other comprehensive income (loss)	(28.1)	13.8
Comprehensive income (loss)	25.1	47.4
AAM Inc. [Member]
Net sales
External	274.9	227.9
Intercompany	3.1	2.8
Total net sales	278.0	230.7
Cost of goods sold	270.9	231.9
Gross profit	7.1	(1.2)
Selling, general and administrative expenses	59.5	48.6
Operating income (loss)	52.4	49.8
Non-operating income (expense), net	(25.4)	(25.8)
Income (loss) before income taxes	(77.8)	(75.6)
Income tax expense (benefit)	4.5	0.4
Earnings (loss) from equity in subsidiaries	74.9	54.5
Net income (loss) before royalties and dividends	(7.4)	(21.5)
Royalties and dividends	60.6	55.1
Net income after royalties and dividends	53.2	33.6
Other comprehensive income (loss)	(28.1)	13.8
Comprehensive income (loss)	25.1	47.4
Guarantor Subsidiaries [Member]
Net sales
External	57.2	58.0
Intercompany	64.4	58.1
Total net sales	121.6	116.1
Cost of goods sold	100.7	99.6
Gross profit	20.9	16.5
Selling, general and administrative expenses	0	0.1
Operating income (loss)	(20.9)	(16.4)
Non-operating income (expense), net	2.3	2.7
Income (loss) before income taxes	23.2	19.1
Income tax expense (benefit)	(0.4)	0
Earnings (loss) from equity in subsidiaries	(6.0)	(9.2)
Net income (loss) before royalties and dividends	17.6	9.9
Royalties and dividends	0	0
Net income after royalties and dividends	17.6	9.9
Other comprehensive income (loss)	(27.0)	7.8
Comprehensive income (loss)	(9.4)	17.7
Non-Guarantor Subsidiaries [Member]
Net sales
External	637.0	572.9
Intercompany	4.6	5.9
Total net sales	641.6	578.8
Cost of goods sold	516.8	472.2
Gross profit	124.8	106.6
Selling, general and administrative expenses	9.0	8.4
Operating income (loss)	(115.8)	(98.2)
Non-operating income (expense), net	1.2	(1.1)
Income (loss) before income taxes	117.0	97.1
Income tax expense (benefit)	5.1	6.6
Earnings (loss) from equity in subsidiaries	0	0
Net income (loss) before royalties and dividends	111.9	90.5
Royalties and dividends	(60.6)	(55.1)
Net income after royalties and dividends	51.3	35.4
Other comprehensive income (loss)	(28.7)	8.9
Comprehensive income (loss)	22.6	44.3
Elims [Member]
Net sales
External	0	0
Intercompany	(72.1)	(66.8)
Total net sales	(72.1)	(66.8)
Cost of goods sold	(72.1)	(66.8)
Gross profit	0	0
Selling, general and administrative expenses	0	0
Operating income (loss)	0	0
Non-operating income (expense), net	0	0
Income (loss) before income taxes	0	0
Income tax expense (benefit)	0	0
Earnings (loss) from equity in subsidiaries	(122.1)	(78.9)
Net income (loss) before royalties and dividends	(122.1)	(78.9)
Royalties and dividends	0	0
Net income after royalties and dividends	(122.1)	(78.9)
Other comprehensive income (loss)	83.8	(30.5)
Comprehensive income (loss)	$ (38.3)	$ (109.4)

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CONDENSED CONSOLIDATED STATEMENTS OF INCOME (USD $) In Millions, except Per Share data, unless otherwise specified	3 Months Ended
	Mar. 31, 2015	Mar. 31, 2014
Net sales	$ 969.1	$ 858.8
Cost of goods sold	816.3	736.9
Gross profit	152.8	121.9
Selling, general and administrative expenses	68.5	57.1
Operating income	84.3	64.8
Interest expense	(25.1)	(25.0)
Investment income	0.8	0.3
Other income, net	2.4	0.5
Income before income taxes	62.4	40.6
Income tax expense	9.2	7.0
Net income	$ 53.2	$ 33.6
Basic earnings per share	$ 0.69	$ 0.44
Diluted earnings per share	$ 0.68	$ 0.44

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CONDENSED CONSOLIDATED BALANCE SHEETS PARENTHETICAL (USD $) In Millions, except Per Share data, unless otherwise specified	Mar. 31, 2015	Dec. 31, 2014
Common stock, par or stated value per share	$ 0.01	$ 0.01
Treasury stock, shares	6.1	6.1

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Employee Benefit Plans Components of Net Periodic Benefit Cost (Credit) (Details) (USD $) In Millions, unless otherwise specified	3 Months Ended		12 Months Ended
	Mar. 31, 2015	Mar. 31, 2014	Dec. 31, 2015
Pension Plans, Defined Benefit [Member]
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Service cost	$ 0.8	$ 0.9
Interest cost	7.2	9.0
Expected asset return	(10.6)	(12.1)
Amortized loss	1.7	1.3
Net periodic benefit credit	(0.9)	(0.9)
Other Postretirement Benefit Plans, Defined Benefit [Member]
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Service cost	0.1	0.1
Interest cost	3.8	3.8
Amortized loss	0.2	0.2
Amortized prior service credit	(0.7)	(0.7)
Net periodic benefit cost	3.4	3.4
Scenario, Forecast [Member] | Other Postretirement Benefit Plans, Defined Benefit [Member]
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Defined benefit plan, estimated future employer contributions in current fiscal year			$ 16

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Fair Value (Tables)

3 Months Ended

Mar. 31, 2015

Fair Value [Abstract]

Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block]

The estimated fair value of our financial assets and liabilities that are recognized at fair value on a recurring basis, using available market information and other observable data, are as follows:

	March 31, 2015				December 31, 2014
	Carrying Amount		Fair Value		Carrying Amount		Fair Value		Input
	(in millions)				(in millions)
Balance Sheet Classification
Cash equivalents	$	29.0	$	29.0	$	35.3	$	35.3	Level 1
Other accrued expenses
Currency forward contracts	8.3		8.3		8.3		8.3		Level 2
Other long-term liabilities
Currency forward contracts	0.3		0.3		0.1		0.1		Level 2

Fair Value, Liabilities Measured on Recurring Basis [Table Text Block]

We estimated the fair value of the amounts outstanding on our debt using available market information and other observable data, to be as follows:

	March 31, 2015				December 31, 2014
	Carrying  Amount		Fair Value		Carrying  Amount		Fair Value		Input
	(in millions)				(in millions)
Revolving Credit Facility	$	—	$	—	$	—	$	—	Level 2
Term Facility	140.6		139.2		142.5		141.1		Level 2
7.75% Notes	200.0		227.0		200.0		224.0		Level 2
6.625% Notes	550.0		589.2		550.0		583.0		Level 2
6.25% Notes	400.0		422.0		400.0		419.0		Level 2
5.125% Notes	200.0		205.2		200.0		202.6		Level 2

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Product Warranties (Details) (USD $) In Millions, unless otherwise specified	3 Months Ended
	Mar. 31, 2015	Mar. 31, 2014
Product Warranty Rollforward
Beginning balance	$ 12.4	$ 14.3
Accruals	4.5	4.2
Settlements	(0.2)	(0.8)
Adjustments to prior period accruals, net	1.4	0.2
Foreign currency translation	(0.2)	0.1
Ending balance	$ 17.9	$ 18.0

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Employee Benefit Plans (Tables)

3 Months Ended

Mar. 31, 2015

Employee Benefit Plans [Abstract]

Schedule of Net Benefit Costs [Table Text Block]

The components of net periodic benefit cost (credit) are as follows:

	Pension Benefits
	Three Months Ended
	March 31,
	2015			2014
	(in millions)
Service cost	$	0.8		$	0.9
Interest cost	7.2			9.0
Expected asset return	(10.6		)	(12.1		)
Amortized loss	1.7			1.3
Net periodic benefit credit	$	(0.9	)	$	(0.9	)
	Other Postretirement Benefits
	Three Months Ended
	March 31,
	2015			2014
	(in millions)
Service cost	$	0.1		$	0.1
Interest cost	3.8			3.8
Amortized loss	0.2			0.2
Amortized prior service credit	(0.7		)	(0.7		)
Net periodic benefit cost	$	3.4		$	3.4

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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $) In Millions, unless otherwise specified	3 Months Ended
	Mar. 31, 2015	Mar. 31, 2014
Operating activities
Net income	$ 53.2	$ 33.6
Adjustments to reconcile net income to net cash provided by (used in) operating activities
Depreciation and amortization	50.0	46.9
Deferred income taxes	3.9	(0.7)
Stock-based compensation	3.6	2.0
Pensions and other postretirement benefits, net of contributions	(0.7)	(0.1)
Gain on disposal of property, plant and equipment, net	0	(4.0)
Changes in operating assets and liabilities
Accounts receivable	(140.6)	(194.2)
Inventories	7.2	5.2
Accounts payable and accrued expenses	52.5	25.0
Deferred revenue	(4.5)	35.7
Other assets and liabilities	(18.2)	(4.9)
Net cash provided by (used in) operating activities	6.4	(55.5)
Investing activities
Purchases of property, plant and equipment	(43.6)	(47.9)
Proceeds from sale of property, plant and equipment	0.1	7.9
Net cash used in investing activities	(43.5)	(40.0)
Financing Activities
Net short-term borrowings under credit facilities	0	29.0
Payments of long-term debt and capital lease obligations	(2.2)	(11.5)
Proceeds from issuance of long-term debt	1.0	3.1
Debt issuance costs	0	(0.2)
Purchase of treasury stock	(0.3)	(0.3)
Employee stock option exercises	0.4	0.6
Net cash provided by (used in) financing activities	(1.1)	20.7
Effect of exchange rate changes on cash	(5.3)	0.4
Net decrease in cash and cash equivalents	(43.5)	(74.4)
Cash and cash equivalents at beginning of period	249.2	154.0
Cash and cash equivalents at end of period	205.7	79.6
Supplemental cash flow information
Interest paid	19.3	14.1
Income taxes paid, net of refunds	$ 5.5	$ 4.5

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CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (USD $) In Millions, unless otherwise specified	3 Months Ended
	Mar. 31, 2015	Mar. 31, 2014
Net income	$ 53.2	$ 33.6
Other comprehensive income (loss), net of tax
Defined benefit plans, net of tax	3.9	5.1
Foreign currency translation adjustments	(31.5)	7.8
Change in derivatives	(0.5)	0.9
Other comprehensive income (loss)	(28.1)	13.8
Comprehensive income	$ 25.1	$ 47.4

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Reclassifications out of Accumulated Other Comprehensive Income (Loss)

3 Months Ended

Mar. 31, 2015

Disclosure of Reclassification Amount [Text Block]

10. RECLASSIFICATIONS OUT OF ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)

Reclassification adjustments and other activity impacting accumulated other comprehensive income (loss) during the three months ended March 31, 2015 and March 31, 2014 are as follows (in millions):

	Defined Benefit Plans				Foreign Currency Translation Adjustments			Unrecognized Loss on Derivatives				Total
Balance at December 31, 2014	$	(240.6	)		$	(48.9	)	$	(7.4	)		$	(296.9	)
Other comprehensive income (loss) before reclassifications	3.1			(a)	(31.5		)	(2.0		)		(30.4		)
Amounts reclassified from accumulated other comprehensive income (loss)	0.8			(a)(b)	—			1.5			(c)	2.3
Net current period other comprehensive income (loss)	3.9				(31.5		)	(0.5		)		(28.1		)
Balance at March 31, 2015	$	(236.7	)		$	(80.4	)	$	(7.9	)		$	(325.0	)

	Defined Benefit Plans				Foreign Currency Translation Adjustments			Unrecognized Loss on Derivatives			Total
Balance at December 31, 2013	$	(197.9	)		$	(18.6	)	$	0.3		$	(216.2	)
Other comprehensive income before reclassifications	4.5			(a)	7.8			0.9			13.2
Amounts reclassified from accumulated other comprehensive income (loss)	0.6			(a)(b)	—			—		(c)	0.6
Net current period other comprehensive income	5.1				7.8			0.9			13.8
Balance at March 31, 2014	$	(192.8	)		$	(10.8	)	$	1.2		$	(202.4	)

(a)	The amounts are net of tax of $(1.6) million and $(0.4) million for other comprehensive income before reclassifications and the amounts reclassified from AOCI, respectively, for the three months ended March 31, 2015, and $(2.5) million and $(0.2) million, respectively, for the three months ended March 31, 2014.
(b)	The net amount reclassified from AOCI included $0.9 million in cost of goods sold (COGS) and $(0.1) million in selling, general & administrative expenses (SG&A) for the three months ended March 31, 2015 and $0.8 million in COGS and $(0.2) million in SG&A for the three months ended March 31, 2014.
(c)	The amounts reclassified from AOCI are included in COGS.

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Document and Entity Information Document	3 Months Ended
	Mar. 31, 2015	Apr. 29, 2015
Entity Registrant Name	AMERICAN AXLE & MANUFACTURING HOLDINGS INC
Entity Central Index Key	0001062231
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Document Fiscal Year Focus	2015
Document Fiscal Period Focus	Q1
Document Period End Date	Mar. 31, 2015
Amendment Flag	false
Document Type	10-Q
Entity Well-known Seasoned Issuer	Yes
Entity Common Stock, Shares Outstanding		75,815,272
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No

XML

Supplemental Guarantor Condensed Consolidating Financial Statements

3 Months Ended

Mar. 31, 2015

Supplemental Guarantor Condensed Consolidating Financial Statements [Abstract]

Supplemental Guarantor Disclosure [Text Block]

11. SUPPLEMENTAL GUARANTOR CONDENSED CONSOLIDATING FINANCIAL STATEMENTS

Holdings has no significant assets other than its 100% ownership in AAM, Inc. and no direct subsidiaries other than AAM, Inc. The 7.75% Notes, 6.625% Notes, 6.25% Notes and 5.125% Notes are senior unsecured obligations of AAM Inc.; all of which are fully and unconditionally guaranteed by Holdings and substantially all domestic subsidiaries of AAM, Inc, which are 100% indirectly owned by Holdings.

These Condensed Consolidating Financial Statements are prepared under the equity method of accounting whereby the investments in subsidiaries are recorded at cost and adjusted for the parent’s share of the subsidiaries’ cumulative results of operations, capital contributions and distributions, and other equity changes.

Condensed Consolidating Statements of Income
Three Months Ended March 31,
(in millions)
	Holdings			AAM Inc.			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Elims			Consolidated
2015
Net sales
External	$	—		$	274.9		$	57.2		$	637.0		$	—		$	969.1
Intercompany	—			3.1			64.4			4.6			(72.1		)	—
Total net sales	—			278.0			121.6			641.6			(72.1		)	969.1
Cost of goods sold	—			270.9			100.7			516.8			(72.1		)	816.3
Gross profit	—			7.1			20.9			124.8			—			152.8
Selling, general and administrative expenses	—			59.5			—			9.0			—			68.5
Operating income (loss)	—			(52.4		)	20.9			115.8			—			84.3
Non-operating income (expense), net	—			(25.4		)	2.3			1.2			—			(21.9		)
Income (loss) before income taxes	—			(77.8		)	23.2			117.0			—			62.4
Income tax expense (benefit)	—			4.5			(0.4		)	5.1			—			9.2
Earnings (loss) from equity in subsidiaries	53.2			74.9			(6.0		)	—			(122.1		)	—
Net income (loss) before royalties and dividends	53.2			(7.4		)	17.6			111.9			(122.1		)	53.2
Royalties and dividends	—			60.6			—			(60.6		)	—			—
Net income after royalties and dividends	53.2			53.2			17.6			51.3			(122.1		)	53.2
Other comprehensive loss	(28.1		)	(28.1		)	(27.0		)	(28.7		)	83.8			(28.1		)
Comprehensive income (loss)	$	25.1		$	25.1		$	(9.4	)	$	22.6		$	(38.3	)	$	25.1

	Holdings		AAM Inc.			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Elims			Consolidated
2014
Net sales
External	$	—	$	227.9		$	58.0		$	572.9		$	—		$	858.8
Intercompany	—		2.8			58.1			5.9			(66.8		)	—
Total net sales	—		230.7			116.1			578.8			(66.8		)	858.8
Cost of goods sold	—		231.9			99.6			472.2			(66.8		)	736.9
Gross profit (loss)	—		(1.2		)	16.5			106.6			—			121.9
Selling, general and administrative expenses	—		48.6			0.1			8.4			—			57.1
Operating income (loss)	—		(49.8		)	16.4			98.2			—			64.8
Non-operating income (expense), net	—		(25.8		)	2.7			(1.1		)	—			(24.2		)
Income (loss) before income taxes	—		(75.6		)	19.1			97.1			—			40.6
Income tax expense	—		0.4			—			6.6			—			7.0
Earnings (loss) from equity in subsidiaries	33.6		54.5			(9.2		)	—			(78.9		)	—
Net income (loss) before royalties and dividends	33.6		(21.5		)	9.9			90.5			(78.9		)	33.6
Royalties and dividends	—		55.1			—			(55.1		)	—			—
Net income after royalties and dividends	33.6		33.6			9.9			35.4			(78.9		)	33.6
Other comprehensive income	13.8		13.8			7.8			8.9			(30.5		)	13.8
Comprehensive income	$	47.4	$	47.4		$	17.7		$	44.3		$	(109.4	)	$	47.4

Condensed Consolidating Balance Sheets
(in millions)
	Holdings		AAM Inc.		Guarantor Subsidiaries		Non-Guarantor Subsidiaries		Elims			Consolidated
March 31, 2015
Assets
Current assets
Cash and cash equivalents	$	—	$	80.1	$	—	$	125.6	$	—		$	205.7
Accounts receivable, net	—		165.9		30.4		471.7		—			668.0
Intercompany receivables	—		212.7		194.7		9.4		(416.8		)	—
Inventories, net	—		67.4		31.7		139.4		—			238.5
Other current assets	—		55.3		2.5		54.0		—			111.8
Total current assets	—		581.4		259.3		800.1		(416.8		)	1,224.0
Property, plant and equipment, net	—		224.8		86.9		728.3		—			1,040.0
Goodwill	—		—		147.9		6.4		—			154.3
Intercompany notes and accounts receivable	—		489.9		226.0		—		(715.9		)	—
Other assets and deferred charges	—		719.8		47.0		122.7		—			889.5
Investment in subsidiaries	463.1		1,173.8		—		—		(1,636.9		)	—
Total assets	$	463.1	$	3,189.7	$	767.1	$	1,657.5	$	(2,769.6	)	$	3,307.8
Liabilities and stockholders’ equity
Current liabilities
Current portion of long-term debt	$	—	$	10.3	$	—	$	3.6	$	—		$	13.9
Accounts payable	—		143.1		45.8		300.9		—			489.8
Intercompany payables	—		191.0		114.9		110.9		(416.8		)	—
Other current liabilities	—		108.4		5.2		114.7		—			228.3
Total current liabilities	—		452.8		165.9		530.1		(416.8		)	732.0
Intercompany notes and accounts payable	320.8		6.9		—		388.2		(715.9		)	—
Long-term debt	—		1,480.3		4.9		35.6		—			1,520.8
Investment in subsidiaries obligation	—		—		83.6		—		(83.6		)	—
Other long-term liabilities	—		786.6		0.7		125.4		—			912.7
Total liabilities	320.8		2,726.6		255.1		1,079.3		(1,216.3		)	3,165.5
Total stockholders’ equity	142.3		463.1		512.0		578.2		(1,553.3		)	142.3
Total liabilities and stockholders’ equity	$	463.1	$	3,189.7	$	767.1	$	1,657.5	$	(2,769.6	)	$	3,307.8

	Holdings		AAM Inc.		Guarantor Subsidiaries		Non-Guarantor Subsidiaries		Elims			Consolidated
December 31, 2014
Assets
Current assets
Cash and cash equivalents	$	—	$	69.7	$	—	$	179.5	$	—		$	249.2
Accounts receivable, net	—		137.5		23.9		371.3		—			532.7
Intercompany receivables	—		231.0		174.1		10.0		(415.1		)	—
Inventories, net	—		64.9		32.3		151.6		—			248.8
Other current assets	—		53.6		2.6		52.6		—			108.8
Total current assets	—		556.7		232.9		765.0		(415.1		)	1,139.5
Property, plant and equipment, net	—		230.0		87.9		743.2		—			1,061.1
Goodwill	—		—		147.9		7.1		—			155.0
Intercompany notes and accounts receivable	—		509.4		219.1		—		(728.5		)	—
Other assets and deferred charges	—		736.6		45.7		121.3		—			903.6
Investment in subsidiaries	433.8		1,134.6		—		—		(1,568.4		)	—
Total assets	$	433.8	$	3,167.3	$	733.5	$	1,636.6	$	(2,712.0	)	$	3,259.2
Liabilities and stockholders’ equity
Current liabilities
Current portion of long-term debt	$	—	$	9.4	$	—	$	3.6	$	—		$	13.0
Accounts payable	—		127.3		38.9		278.1		—			444.3
Intercompany payables	—		177.0		105.3		132.8		(415.1		)	—
Other current liabilities	—		121.0		4.4		104.5		—			229.9
Total current liabilities	—		434.7		148.6		519.0		(415.1		)	687.2
Intercompany notes and accounts payable	320.4		6.9		—		401.2		(728.5		)	—
Long-term debt	—		1,483.1		4.9		35.4		—			1,523.4
Investment in subsidiaries obligation	—		—		53.8		—		(53.8		)	—
Other long-term liabilities	—		808.8		0.6		125.8		—			935.2
Total liabilities	320.4		2,733.5		207.9		1,081.4		(1,197.4		)	3,145.8
Total stockholders’ equity	113.4		433.8		525.6		555.2		(1,514.6		)	113.4
Total liabilities and stockholders’ equity	$	433.8	$	3,167.3	$	733.5	$	1,636.6	$	(2,712.0	)	$	3,259.2

Condensed Consolidating Statements of Cash Flows
Three Months Ended March 31,
(in millions)
	Holdings			AAM Inc.			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Elims			Consolidated
2015
Net cash provided by (used in) operating activities	$	—		$	19.7		$	11.2		$	(24.5	)	$	—		$	6.4
Investing activities
Purchases of property, plant and equipment	—			(7.5		)	(2.1		)	(34.0		)	—			(43.6		)
Proceeds from sale of property, plant and equipment	—			0.1			—			—			—			0.1
Intercompany activity	—			—			(9.0		)	—			9.0			—
Net cash used in investing activities	—			(7.4		)	(11.1		)	(34.0		)	9.0			(43.5		)
Financing activities
Net debt activity	—			(2.0		)	(0.1		)	0.9			—			(1.2		)
Employee stock option exercises	—			0.4			—			—			—			0.4
Purchase of treasury stock	(0.3		)	—			—			—			—			(0.3		)
Intercompany activity	0.3			(0.3		)	—			9.0			(9.0		)	—
Net cash provided by (used in) financing activities	—			(1.9		)	(0.1		)	9.9			(9.0		)	(1.1		)
Effect of exchange rate changes on cash	—			—			—			(5.3		)	—			(5.3		)
Net increase (decrease) in cash and cash equivalents	—			10.4			—			(53.9		)	—			(43.5		)
Cash and cash equivalents at beginning of period	—			69.7			—			179.5			—			249.2
Cash and cash equivalents at end of period	$	—		$	80.1		$	—		$	125.6		$	—		$	205.7

	Holdings			AAM Inc.			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Elims			Consolidated
2014
Net cash provided by (used in) operating activities	$	—		$	(25.8	)	$	14.8		$	(44.5	)	$	—		$	(55.5	)
Investing activities
Purchases of property, plant and equipment	—			(9.3		)	(2.7		)	(35.9		)	—			(47.9		)
Proceeds from sale of property, plant and equipment	—			7.7			—			0.2			—			7.9
Intercompany activity	—			—			(12.0		)	—			12.0			—
Net cash used in investing activities	—			(1.6		)	(14.7		)	(35.7		)	12.0			(40.0		)
Financing activities
Net debt activity	—			(0.1		)	(0.1		)	20.8			—			20.6
Debt issuance costs	—			(0.2		)	—			—			—			(0.2		)
Employee stock option exercises	—			0.6			—			—			—			0.6
Purchase of treasury stock	(0.3		)	—			—			—			—			(0.3		)
Intercompany activity	0.3			(0.3		)	—			12.0			(12.0		)	—
Net cash provided by (used in) financing activities	—			—			(0.1		)	32.8			(12.0		)	20.7
Effect of exchange rate changes on cash	—			—			—			0.4			—			0.4
Net decrease in cash and cash equivalents	—			(27.4		)	—			(47.0		)	—			(74.4		)
Cash and cash equivalents at beginning of period	—			36.9			—			117.1			—			154.0
Cash and cash equivalents at end of period	$	—		$	9.5		$	—		$	70.1		$	—		$	79.6

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CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME PARENTHETICAL (USD $) In Millions, unless otherwise specified	3 Months Ended
	Mar. 31, 2015	Mar. 31, 2014
Other comprehensive income (loss), pension and other postretirement benefit plans, tax	$ (2.0)	$ (2.7)

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Derivatives

3 Months Ended

Mar. 31, 2015

Derivatives [Abstract]

Derivative Instruments and Hedging Activities Disclosure [Text Block]

5. DERIVATIVES

Our business and financial results are affected by fluctuations in world financial markets, including interest rates and currency exchange rates.  Our hedging policy has been developed to manage these risks to an acceptable level based on management’s judgment of the appropriate trade-off between risk, opportunity and cost.  We do not hold financial instruments for trading or speculative purposes.

Currency forward contracts  From time to time, we use foreign currency forward contracts to reduce the effects of fluctuations in exchange rates, primarily relating to the Mexican Peso, Euro, Swedish Krona, Polish Zloty and Pound Sterling.  As of March 31, 2015, we have currency forward contracts outstanding with a notional amount of $108.2 million that hedge our exposure to changes in foreign currency exchange rates for our payroll expenses, indirect inventory and other working capital items.  

The following table summarizes the reclassification of pre-tax derivative losses into net income from accumulated other comprehensive income (loss):

	Location of	Loss Reclassified During					Loss Expected to
	Loss	Three Months Ended					be Reclassified
	Reclassified into	March 31,					During the
	Net Income	2015			2014		Next 12 Months
		(in millions)
Currency forward contracts	Cost of Goods Sold	$	(1.5	)	$	—	$	(7.6	)

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Fair Value

3 Months Ended

Mar. 31, 2015

Fair Value [Abstract]

Fair Value Disclosures [Text Block]

4. FAIR VALUE

The fair value accounting guidance defines fair value as “the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date.”  The definition is based on an exit price rather than an entry price, regardless of whether the entity plans to hold or sell the asset.  This guidance also establishes a fair value hierarchy to prioritize inputs used in measuring fair value as follows:

• Level 1:  Observable inputs such as quoted prices in active markets;

• Level 2:  Inputs, other than quoted prices in active markets, that are observable either directly or indirectly; and

• Level 3:  Unobservable inputs in which there is little or no market data, which require the reporting entity to develop its own assumptions.

Financial instruments   The estimated fair value of our financial assets and liabilities that are recognized at fair value on a recurring basis, using available market information and other observable data, are as follows:

	March 31, 2015				December 31, 2014
	Carrying Amount		Fair Value		Carrying Amount		Fair Value		Input
	(in millions)				(in millions)
Balance Sheet Classification
Cash equivalents	$	29.0	$	29.0	$	35.3	$	35.3	Level 1
Other accrued expenses
Currency forward contracts	8.3		8.3		8.3		8.3		Level 2
Other long-term liabilities
Currency forward contracts	0.3		0.3		0.1		0.1		Level 2

The carrying values of our cash, accounts receivable, accounts payable and accrued liabilities approximate their fair values due to the short-term maturities of these instruments.  The carrying values of our borrowings under the foreign credit facilities approximate their fair value due to the frequent resetting of the interest rates.  We estimated the fair value of the amounts outstanding on our debt using available market information and other observable data, to be as follows:

	March 31, 2015				December 31, 2014
	Carrying  Amount		Fair Value		Carrying  Amount		Fair Value		Input
	(in millions)				(in millions)
Revolving Credit Facility	$	—	$	—	$	—	$	—	Level 2
Term Facility	140.6		139.2		142.5		141.1		Level 2
7.75% Notes	200.0		227.0		200.0		224.0		Level 2
6.625% Notes	550.0		589.2		550.0		583.0		Level 2
6.25% Notes	400.0		422.0		400.0		419.0		Level 2
5.125% Notes	200.0		205.2		200.0		202.6		Level 2

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Derivatives (Tables)

3 Months Ended

Mar. 31, 2015

Derivatives and Risk Management [Abstract]

Schedule of Derivative Instruments, Gain (Loss) in Statement of Financial Performance [Table Text Block]

The following table summarizes the reclassification of pre-tax derivative losses into net income from accumulated other comprehensive income (loss):

	Location of	Loss Reclassified During					Loss Expected to
	Loss	Three Months Ended					be Reclassified
	Reclassified into	March 31,					During the
	Net Income	2015			2014		Next 12 Months
		(in millions)
Currency forward contracts	Cost of Goods Sold	$	(1.5	)	$	—	$	(7.6	)

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Organization and Basis of Presentation Effect of New Accounting Standards (Policies)

3 Months Ended

Mar. 31, 2015

New Accounting Policies [Abstract]

New Accounting Pronouncements, Policy [Policy Text Block]

Effect of New Accounting Standards On April 7, 2015, the Financial Accounting Standards Board (FASB) issued an accounting standards update (ASU) which changes the presentation of debt issuance costs in financial statements. Under the ASU, an entity would present such costs in the balance sheet as a direct deduction of the related debt liability rather than as an asset. Amortization of the costs will continue to be reported as interest expense. This ASU becomes effective for AAM at the beginning of our 2016 fiscal year and early adoption is permitted. We estimate the effect of implementing this ASU on our consolidated financial statements would reduce both our other assets and deferred charges and long-term debt by approximately $15.5 million at December 31, 2015.

In 2014, new accounting guidance was issued that outlines a single comprehensive model for entities to use in accounting for revenue arising from contracts with customers and supersedes most current revenue recognition guidance, including industry-specific guidance. The guidance is based on the principle that an entity should recognize revenue to depict the transfer of goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services.  The guidance also requires additional disclosure about the nature, amount, timing and uncertainty of revenue and cash flows arising from customer contracts, including significant judgments and changes in judgments and assets recognized from costs incurred to fulfill a contract.  Entities have the option of using either a full retrospective or a modified retrospective approach for the adoption of the new standard.  This guidance becomes effective for AAM at the beginning of our 2017 fiscal year, however on April 1, 2015, the FASB proposed to defer the effective date of this revenue recognition guidance by one year. We are currently assessing the impact that this standard will have on our consolidated financial statements.

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Income Taxes

3 Months Ended

Mar. 31, 2015

Income Taxes [Abstract]

Income Tax Disclosure [Text Block]

8. INCOME TAXES

 We are required to adjust our effective tax rate each quarter to estimate our annual effective tax rate. We must also record the tax impact of certain discrete, unusual or infrequently occurring items, including changes in judgment about valuation allowances and effects of changes in tax laws or rates, in the interim period in which they occur. In addition, jurisdictions with a projected loss for the year or a year-to-date loss where no tax benefit can be recognized are excluded from the estimated annual effective tax rate. The impact of such an exclusion could result in a higher or lower effective tax rate during a particular quarter, based upon the mix and timing of actual earnings versus annual projections.

Income tax expense was $9.2 million in the three months ended March 31, 2015 as compared to $7.0 million in the three months ended March 31, 2014.  Our effective income tax rate was 14.8% in the first quarter of 2015 as compared to 17.3% in the first quarter of 2014. Our income tax expense and effective tax rate for the three months ended March 31, 2015 and March 31, 2014 primarily reflect favorable foreign tax rates, along with our inability to realize a tax benefit for current foreign losses.

Our income tax expense and effective tax rate for the three months ended March 31, 2015 also reflect a tax benefit of $1.0 million related to the settlement of the IRS audits for 2010 and 2011.

Based on the status of the audits outside the U.S., and the protocol of finalizing audits by the relevant tax authorities, it is not possible to estimate the impact of changes, if any, to previously recorded uncertain tax positions or predict the timing of the conclusion of all ongoing audits with certainty. As of March 31, 2015 and December 31, 2014, we have recorded a liability for unrecognized income tax benefits and related interest and penalties of $60.8 million and $59.5 million, respectively. We anticipate that the current 2007 through 2009 audits with the Mexican tax authorities will be completed before the end of 2015 and will result in a cash payment to the tax authorities.

Although it is difficult to estimate with certainty the amount of an audit settlement for the years currently under audit, we do not expect the settlement will be materially different from what we have recorded in unrecognized tax benefits. We will continue to monitor the progress and conclusions of all ongoing audits and will adjust our estimated liability as necessary.

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Employee Benefit Plans

3 Months Ended

Mar. 31, 2015

Employee Benefit Plans [Abstract]

Pension and Other Postretirement Benefits Disclosure [Text Block]

6. EMPLOYEE BENEFIT PLANS

The components of net periodic benefit cost (credit) are as follows:

	Pension Benefits
	Three Months Ended
	March 31,
	2015			2014
	(in millions)
Service cost	$	0.8		$	0.9
Interest cost	7.2			9.0
Expected asset return	(10.6		)	(12.1		)
Amortized loss	1.7			1.3
Net periodic benefit credit	$	(0.9	)	$	(0.9	)
	Other Postretirement Benefits
	Three Months Ended
	March 31,
	2015			2014
	(in millions)
Service cost	$	0.1		$	0.1
Interest cost	3.8			3.8
Amortized loss	0.2			0.2
Amortized prior service credit	(0.7		)	(0.7		)
Net periodic benefit cost	$	3.4		$	3.4

Due to the availability of our prefunding balances (previous contributions in excess of prior required pension contributions), we are not required to make any cash payments in 2015. We expect our cash payments for other postretirement benefit obligations in 2015, net of GM cost sharing, to be approximately $16 million.

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Product Warranties

3 Months Ended

Mar. 31, 2015

Commitments and Contingencies [Abstract]

Product Warranty Disclosure [Text Block]

7. PRODUCT WARRANTIES

We record a liability for estimated warranty obligations at the dates our products are sold. These estimates are established using sales volumes and internal and external warranty data where there is no payment history and historical information about the average cost of warranty claims for customers with prior claims. We estimate our costs based on the contractual arrangements with our customers, existing customer warranty terms and internal and external warranty data, which includes a determination of our warranty claims and actions taken to improve product quality and minimize warranty claims. We continuously evaluate these estimates and our customers' administration of their warranty programs. We closely monitor actual warranty claim data and adjust the liability, as necessary, on a quarterly basis.

The following table provides a reconciliation of changes in the product warranty liability:

	Three Months Ended
	March 31,
	2015			2014
	(in millions)
Beginning balance	$	12.4		$	14.3
Accruals	4.5			4.2
Settlements	(0.2		)	(0.8		)
Adjustment to prior period accruals, net	1.4			0.2
Foreign currency translation	(0.2		)	0.1
Ending balance	$	17.9		$	18.0

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Earnings Per Share (EPS)

3 Months Ended

Mar. 31, 2015

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

Earnings Per Share [Text Block]

9. EARNINGS PER SHARE (EPS)

We present earnings per share (EPS) using the two-class method. This method allocates undistributed earnings between common shares and non-vested share based payment awards that entitle the holder to nonforfeitable dividend rights. Our participating securities include non-vested restricted stock units.

The following table sets forth the computation of our basic and diluted EPS available to shareholders of common stock (excluding participating securities):

	Three Months Ended
	March 31,
	2015			2014
	(in millions, except per share data)
Numerator
Net income	$	53.2		$	33.6
Less: Net income attributable to participating securities	(1.2		)	(0.6		)
Net income attributable to common shareholders - Basic	$	52.0		$	33.0
Undistributed earnings reallocated to common shareholders under two step     dilutive method	—			—
Net income attributable to common shareholders - Dilutive	$	52.0		$	33.0
Denominators
Basic common shares outstanding -
Weighted-average shares outstanding	77.5			77.0
Less: Participating securities	(1.7		)	(1.4		)
Weighted-average common shares outstanding	75.8			75.6
Effect of dilutive securities -
Dilutive stock-based compensation	0.3			0.1
Diluted shares outstanding -
Adjusted weighted-average shares after assumed conversions	76.1			75.7
Basic EPS	$	0.69		$	0.44
Diluted EPS	$	0.68		$	0.44

Certain exercisable stock options were excluded from the computations of diluted EPS because the exercise price of these options was greater than the average period market prices. The number of stock options outstanding, which were not included in the calculation of diluted EPS, was 0.2 million at March 31, 2015 and 1.1 million at March 31, 2014. The exercise price related to the excluded exercisable stock options was $26.02 at March 31, 2015 and a range of $19.54 - $40.83 at March 31, 2014.

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Derivatives (Details) (Forward Contracts [Member], USD $) In Millions, unless otherwise specified	3 Months Ended		12 Months Ended
	Mar. 31, 2015	Mar. 31, 2014	Mar. 31, 2016
Derivative Instruments, Gain (Loss) [Line Items]
Derivative, notional amount	$ 108.2
Cost of Sales [Member] | Cash Flow Hedging [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Derivative instruments, income statement location of loss reclassified from accumulated OCI	Cost of Goods Sold
Derivative instruments, loss reclassified from accumulated OCI into income, effective portion, net	(1.5)	0
Cash flow hedge loss to be reclassified within twelve months			$ (7.6)

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Long-Term Debt (Tables)

3 Months Ended

Mar. 31, 2015

Long Term Debt and Lease Obligations [Abstract]

Schedule of Long-term Debt Instruments [Table Text Block]

Long-term debt consists of the following:

	March 31, 2015		December 31, 2014
	(in millions)
Revolving Credit Facility	$	—	$	—
Term Facility	140.6		142.5
7.75% Notes	200.0		200.0
6.625% Notes	550.0		550.0
6.25% Notes	400.0		400.0
5.125% Notes	200.0		200.0
Foreign credit facilities	39.2		38.9
Capital lease obligations	4.9		5.0
Debt	1,534.7		1,536.4
Less: Current portion of long-term debt	13.9		13.0
Long-term debt	$	1,520.8	$	1,523.4

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Earnings Per Share (Tables)

3 Months Ended

Mar. 31, 2015

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

Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]

The following table sets forth the computation of our basic and diluted EPS available to shareholders of common stock (excluding participating securities):

	Three Months Ended
	March 31,
	2015			2014
	(in millions, except per share data)
Numerator
Net income	$	53.2		$	33.6
Less: Net income attributable to participating securities	(1.2		)	(0.6		)
Net income attributable to common shareholders - Basic	$	52.0		$	33.0
Undistributed earnings reallocated to common shareholders under two step     dilutive method	—			—
Net income attributable to common shareholders - Dilutive	$	52.0		$	33.0
Denominators
Basic common shares outstanding -
Weighted-average shares outstanding	77.5			77.0
Less: Participating securities	(1.7		)	(1.4		)
Weighted-average common shares outstanding	75.8			75.6
Effect of dilutive securities -
Dilutive stock-based compensation	0.3			0.1
Diluted shares outstanding -
Adjusted weighted-average shares after assumed conversions	76.1			75.7
Basic EPS	$	0.69		$	0.44
Diluted EPS	$	0.68		$	0.44

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Supplemental Guarantor Condensed Consolidating Balance Sheets (Details) (USD $) In Millions, unless otherwise specified	Mar. 31, 2015	Dec. 31, 2014	Mar. 31, 2014	Dec. 31, 2013
Current Assets
Cash and cash equivalents	$ 205.7	$ 249.2	$ 79.6	$ 154.0
Accounts receivable, net	668.0	532.7
Intercompany receivables	0	0
Inventories, net	238.5	248.8
Other current assets	111.8	108.8
Total current assets	1,224.0	1,139.5
Property, plant and equipment, net	1,040.0	1,061.1
Goodwill	154.3	155.0
Intercompany notes and accounts receivable	0	0
Other assets and deferred charges	889.5	903.6
Investment in subsidiaries	0	0
Total assets	3,307.8	3,259.2
Current Liabilities
Current portion of long-term debt	13.9	13.0
Accounts payable	489.8	444.3
Intercompany payables	0	0
Other current liabilities	228.3	229.9
Total current liabilities	732.0	687.2
Intercompany notes and accounts payable	0	0
Long-term debt	1,520.8	1,523.4
Investment in subsidiaries obligation	0	0
Other long-term liabilities	912.7	935.2
Total liabilities	3,165.5	3,145.8
Total stockholders’ equity	142.3	113.4
Total liabilities and stockholders' equity	3,307.8	3,259.2
Holdings [Member]
Current Assets
Cash and cash equivalents	0	0	0	0
Accounts receivable, net	0	0
Intercompany receivables	0	0
Inventories, net	0	0
Other current assets	0	0
Total current assets	0	0
Property, plant and equipment, net	0	0
Goodwill	0	0
Intercompany notes and accounts receivable	0	0
Other assets and deferred charges	0	0
Investment in subsidiaries	463.1	433.8
Total assets	463.1	433.8
Current Liabilities
Current portion of long-term debt	0	0
Accounts payable	0	0
Intercompany payables	0	0
Other current liabilities	0	0
Total current liabilities	0	0
Intercompany notes and accounts payable	320.8	320.4
Long-term debt	0	0
Investment in subsidiaries obligation	0	0
Other long-term liabilities	0	0
Total liabilities	320.8	320.4
Total stockholders’ equity	142.3	113.4
Total liabilities and stockholders' equity	463.1	433.8
AAM Inc. [Member]
Current Assets
Cash and cash equivalents	80.1	69.7	9.5	36.9
Accounts receivable, net	165.9	137.5
Intercompany receivables	212.7	231.0
Inventories, net	67.4	64.9
Other current assets	55.3	53.6
Total current assets	581.4	556.7
Property, plant and equipment, net	224.8	230.0
Goodwill	0	0
Intercompany notes and accounts receivable	489.9	509.4
Other assets and deferred charges	719.8	736.6
Investment in subsidiaries	1,173.8	1,134.6
Total assets	3,189.7	3,167.3
Current Liabilities
Current portion of long-term debt	10.3	9.4
Accounts payable	143.1	127.3
Intercompany payables	191.0	177.0
Other current liabilities	108.4	121.0
Total current liabilities	452.8	434.7
Intercompany notes and accounts payable	6.9	6.9
Long-term debt	1,480.3	1,483.1
Investment in subsidiaries obligation	0	0
Other long-term liabilities	786.6	808.8
Total liabilities	2,726.6	2,733.5
Total stockholders’ equity	463.1	433.8
Total liabilities and stockholders' equity	3,189.7	3,167.3
Guarantor Subsidiaries [Member]
Current Assets
Cash and cash equivalents	0	0	0	0
Accounts receivable, net	30.4	23.9
Intercompany receivables	194.7	174.1
Inventories, net	31.7	32.3
Other current assets	2.5	2.6
Total current assets	259.3	232.9
Property, plant and equipment, net	86.9	87.9
Goodwill	147.9	147.9
Intercompany notes and accounts receivable	226.0	219.1
Other assets and deferred charges	47.0	45.7
Investment in subsidiaries	0	0
Total assets	767.1	733.5
Current Liabilities
Current portion of long-term debt	0	0
Accounts payable	45.8	38.9
Intercompany payables	114.9	105.3
Other current liabilities	5.2	4.4
Total current liabilities	165.9	148.6
Intercompany notes and accounts payable	0	0
Long-term debt	4.9	4.9
Investment in subsidiaries obligation	83.6	53.8
Other long-term liabilities	0.7	0.6
Total liabilities	255.1	207.9
Total stockholders’ equity	512.0	525.6
Total liabilities and stockholders' equity	767.1	733.5
Non-Guarantor Subsidiaries [Member]
Current Assets
Cash and cash equivalents	125.6	179.5	70.1	117.1
Accounts receivable, net	471.7	371.3
Intercompany receivables	9.4	10.0
Inventories, net	139.4	151.6
Other current assets	54.0	52.6
Total current assets	800.1	765.0
Property, plant and equipment, net	728.3	743.2
Goodwill	6.4	7.1
Intercompany notes and accounts receivable	0	0
Other assets and deferred charges	122.7	121.3
Investment in subsidiaries	0	0
Total assets	1,657.5	1,636.6
Current Liabilities
Current portion of long-term debt	3.6	3.6
Accounts payable	300.9	278.1
Intercompany payables	110.9	132.8
Other current liabilities	114.7	104.5
Total current liabilities	530.1	519.0
Intercompany notes and accounts payable	388.2	401.2
Long-term debt	35.6	35.4
Investment in subsidiaries obligation	0	0
Other long-term liabilities	125.4	125.8
Total liabilities	1,079.3	1,081.4
Total stockholders’ equity	578.2	555.2
Total liabilities and stockholders' equity	1,657.5	1,636.6
Elims [Member]
Current Assets
Cash and cash equivalents	0	0	0	0
Accounts receivable, net	0	0
Intercompany receivables	(416.8)	(415.1)
Inventories, net	0	0
Other current assets	0	0
Total current assets	(416.8)	(415.1)
Property, plant and equipment, net	0	0
Goodwill	0	0
Intercompany notes and accounts receivable	(715.9)	(728.5)
Other assets and deferred charges	0	0
Investment in subsidiaries	(1,636.9)	(1,568.4)
Total assets	(2,769.6)	(2,712.0)
Current Liabilities
Current portion of long-term debt	0	0
Accounts payable	0	0
Intercompany payables	(416.8)	(415.1)
Other current liabilities	0	0
Total current liabilities	(416.8)	(415.1)
Intercompany notes and accounts payable	(715.9)	(728.5)
Long-term debt	0	0
Investment in subsidiaries obligation	(83.6)	(53.8)
Other long-term liabilities	0	0
Total liabilities	(1,216.3)	(1,197.4)
Total stockholders’ equity	(1,553.3)	(1,514.6)
Total liabilities and stockholders' equity	$ (2,769.6)	$ (2,712.0)

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CONDENSED CONSOLIDATED BALANCE SHEETS (USD $) In Millions, unless otherwise specified	Mar. 31, 2015	Dec. 31, 2014
Current Assets
Cash and cash equivalents	$ 205.7	$ 249.2
Accounts receivable, net	668.0	532.7
Inventories, net	238.5	248.8
Prepaid expenses and other current assets	111.8	108.8
Total current assets	1,224.0	1,139.5
Property, plant and equipment, net	1,040.0	1,061.1
Deferred income taxes	362.9	368.8
Goodwill	154.3	155.0
GM postretirement cost sharing asset	263.7	274.5
Other assets and deferred charges	262.9	260.3
Total assets	3,307.8	3,259.2
Current Liabilities
Current portion of long-term debt	13.9	13.0
Accounts payable	489.8	444.3
Accrued compensation and benefits	102.4	109.1
Deferred revenue	22.0	22.1
Accrued expenses and other current liabilities	103.9	98.7
Total current liabilities	732.0	687.2
Long-term debt	1,520.8	1,523.4
Deferred revenue	88.9	94.2
Postretirement benefits and other long-term liabilities	823.8	841.0
Total liabilities	3,165.5	3,145.8
Stockholders' equity
Common stock, par value $0.01 per share	0.8	0.8
Paid-in capital	627.8	623.7
Retained earnings (Accumulated deficit)	21.8	(31.4)
Treasury stock at cost, 6.1 million shares at both March 31, 2015 and December 31, 2014	(183.1)	(182.8)
Accumulated other comprehensive income (loss), net of tax
Defined benefit plans	(236.7)	(240.6)
Foreign currency translation adjustments	(80.4)	(48.9)
Unrecognized loss on derivatives	(7.9)	(7.4)
Total stockholders’ equity	142.3	113.4
Total liabilities and stockholders' equity	$ 3,307.8	$ 3,259.2

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Long-Term Debt

3 Months Ended

Mar. 31, 2015

Long-term Debt, Unclassified [Abstract]

Long-term Debt [Text Block]

3. LONG-TERM DEBT

Long-term debt consists of the following:

	March 31, 2015		December 31, 2014
	(in millions)
Revolving Credit Facility	$	—	$	—
Term Facility	140.6		142.5
7.75% Notes	200.0		200.0
6.625% Notes	550.0		550.0
6.25% Notes	400.0		400.0
5.125% Notes	200.0		200.0
Foreign credit facilities	39.2		38.9
Capital lease obligations	4.9		5.0
Debt	1,534.7		1,536.4
Less: Current portion of long-term debt	13.9		13.0
Long-term debt	$	1,520.8	$	1,523.4

Revolving Credit Facility and Term Facility As of March 31, 2015, the revolving credit facility provided up to $523.5 million of revolving bank financing commitments through September 13, 2018.  At March 31, 2015, we had $505.5 million available under the revolving credit facility.  This availability reflects a reduction of $18.0 million for standby letters of credit issued against the facility.

The revolving credit facility provides back-up liquidity for our foreign credit facilities.  We intend to use the availability of long-term financing under the revolving credit facility to refinance any current maturities related to such debt agreements that are not otherwise refinanced on a long-term basis in their local markets, except where otherwise reclassified to current portion of long-term debt on our Condensed Consolidated Balance Sheet.

In the first three months of both 2015 and 2014, we made principal payments of $1.9 million on our term facility.

We utilize local currency credit facilities to finance the operations of certain foreign subsidiaries.  At March 31, 2015, $39.2 million was outstanding under these facilities and an additional $46.2 million was available.

The weighted-average interest rate of our long-term debt outstanding was 6.4% at March 31, 2015 and December 31, 2014.

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Reclassifications out of Accumulated Other Comprehensive Income (Loss) (Tables)

3 Months Ended

Mar. 31, 2015

Reclassification Amount from Accumulated Other Comprehensive Income (Loss) [Abstract]

Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block]

Reclassification adjustments and other activity impacting accumulated other comprehensive income (loss) during the three months ended March 31, 2015 and March 31, 2014 are as follows (in millions):

	Defined Benefit Plans				Foreign Currency Translation Adjustments			Unrecognized Loss on Derivatives				Total
Balance at December 31, 2014	$	(240.6	)		$	(48.9	)	$	(7.4	)		$	(296.9	)
Other comprehensive income (loss) before reclassifications	3.1			(a)	(31.5		)	(2.0		)		(30.4		)
Amounts reclassified from accumulated other comprehensive income (loss)	0.8			(a)(b)	—			1.5			(c)	2.3
Net current period other comprehensive income (loss)	3.9				(31.5		)	(0.5		)		(28.1		)
Balance at March 31, 2015	$	(236.7	)		$	(80.4	)	$	(7.9	)		$	(325.0	)

	Defined Benefit Plans				Foreign Currency Translation Adjustments			Unrecognized Loss on Derivatives			Total
Balance at December 31, 2013	$	(197.9	)		$	(18.6	)	$	0.3		$	(216.2	)
Other comprehensive income before reclassifications	4.5			(a)	7.8			0.9			13.2
Amounts reclassified from accumulated other comprehensive income (loss)	0.6			(a)(b)	—			—		(c)	0.6
Net current period other comprehensive income	5.1				7.8			0.9			13.8
Balance at March 31, 2014	$	(192.8	)		$	(10.8	)	$	1.2		$	(202.4	)

(a)	The amounts are net of tax of $(1.6) million and $(0.4) million for other comprehensive income before reclassifications and the amounts reclassified from AOCI, respectively, for the three months ended March 31, 2015, and $(2.5) million and $(0.2) million, respectively, for the three months ended March 31, 2014.
(b)	The net amount reclassified from AOCI included $0.9 million in cost of goods sold (COGS) and $(0.1) million in selling, general & administrative expenses (SG&A) for the three months ended March 31, 2015 and $0.8 million in COGS and $(0.2) million in SG&A for the three months ended March 31, 2014.
(c)	The amounts reclassified from AOCI are included in COGS.

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Earnings Per Share (Details) (USD $) In Millions, except Per Share data, unless otherwise specified	3 Months Ended
	Mar. 31, 2015	Mar. 31, 2014
Numerator
Net income	$ 53.2	$ 33.6
Less: Net income attributable to participating securities	(1.2)	(0.6)
Net income attributable to common shareholders - Basic	52.0	33.0
Undistributed earnings reallocated to common shareholders under two step dilutive method	0	0
Net income attributable to common shareholders - Dilutive	$ 52.0	$ 33.0
Denominator
Basic - Weighted-average shares outstanding	77.5	77.0
Basic - Less: Participating securities	(1.7)	(1.4)
Basic - Weighted-average common shares outstanding	75.8	75.6
Effect of dilutive securities - dilutive stock-based compensation	0.3	0.1
Diluted - Adjusted weighted-average shares after assumed conversions	76.1	75.7
Basic EPS	$ 0.69	$ 0.44
Diluted EPS	$ 0.68	$ 0.44
Antidilutive securities excluded from computation of earnings per share, amount	0.2	1.1
Earnings per share, range of exercise prices of Stock Options excluded from the calculation of diluted EPS, lower end of range	$ 26.02	$ 19.54
Earnings Per Share, Range of Exercise Prices of Stock Options Excluded from the Calculation of Diluted EPS, Upper End of Range	$ 26.02	$ 40.83

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Inventories (Tables)

3 Months Ended

Mar. 31, 2015

Inventories [Abstract]

Schedule of Inventory, Current [Table Text Block]

Inventories consist of the following: 

	March 31, 2015			December 31, 2014
	(in millions)
Raw materials and work-in-progress	$	234.2		$	243.8
Finished goods	32.6			32.9
Gross inventories	266.8			276.7
Inventory valuation reserves	(28.3		)	(27.9		)
Inventories, net	$	238.5		$	248.8