American Axle & Manufacturing Holdings Inc. (AXL) Financial Statements (2024 and earlier)
Company Profile
| Business Address |
ONE DAUCH DRIVE DETROIT, MI 48211-1198 |
| State of Incorp. | DE |
| Fiscal Year End | December 31 |
| Industry (SIC) | 3714 - Motor Vehicle Parts and Accessories (benchmarking) |
| More info | Complete Financial Analysis Financial Benchmarking |
Balance Sheet (Statement of Financial Position) ($ in millions)
| 3/31/2024 MRQ | 12/31/2023 | 12/31/2022 | 12/31/2021 | 12/31/2020 | 12/31/2019 | 12/31/2018 | |||
|---|---|---|---|---|---|---|---|---|---|
| ASSETS | |||||||||
| Current Assets | |||||||||
| Cash, cash equivalents, and short-term investments | 520 | 512 | 530 | 557 | 532 | 476 | |||
| Cash and cash equivalents | 520 | 512 | 530 | 557 | 532 | 476 | |||
| Receivables | 819 | 820 | 763 | 793 | 815 | 967 | |||
| Inventory, net of allowances, customer advances and progress billings | 483 | 464 | 410 | 323 | 374 | 460 | |||
| Inventory | 483 | 464 | 410 | 323 | 374 | 460 | |||
| Other current assets | 137 | 127 | |||||||
| Other undisclosed current assets | 185 | 198 | 153 | 204 | |||||
| Total current assets: | 2,007 | 1,993 | 1,856 | 1,877 | 1,858 | 2,030 | |||
| Noncurrent Assets | |||||||||
| Finance lease, right-of-use asset, after accumulated amortization | 113 | 25 | 7 | ✕ | |||||
| Operating lease, right-of-use asset | 116 | 107 | 124 | 117 | 119 | ✕ | |||
| Property, plant and equipment | 1,761 | 1,903 | 1,996 | 2,164 | 2,358 | 2,514 | |||
| Intangible assets, net (including goodwill) | 715 | 798 | 881 | 966 | 1,564 | 2,253 | |||
| Goodwill | 182 | 182 | 184 | 186 | 699 | 1,142 | |||
| Intangible assets, net (excluding goodwill) | 533 | 616 | 697 | 781 | 865 | 1,111 | |||
| Regulated entity, other noncurrent assets | 42 | 58 | 63 | 81 | |||||
| Estimated insurance recoveries | 11 | 54 | |||||||
| Deferred income tax assets | 169 | 119 | 121 | 108 | ✕ | ||||
| Other noncurrent assets | 477 | 421 | 457 | 448 | 577 | 449 | |||
| Other undisclosed noncurrent assets | 112 | 128 | 34 | 100 | 98 | 184 | |||
| Total noncurrent assets: | 3,350 | 3,476 | 3,780 | 4,039 | 4,787 | 5,481 | |||
| TOTAL ASSETS: | 5,356 | 5,469 | 5,636 | 5,916 | 6,645 | 7,511 | |||
| LIABILITIES AND EQUITY | |||||||||
| Liabilities | |||||||||
| Current Liabilities | |||||||||
| Accounts payable and accrued liabilities | 974 | 921 | 808 | 750 | 778 | 1,019 | |||
| Employee-related liabilities | ✕ | ✕ | ✕ | 195 | 171 | 154 | 179 | ||
| Accounts payable | 774 | 734 | 613 | 579 | 624 | 840 | |||
| Accrued liabilities | 200 | 187 | |||||||
| Deferred revenue | 17 | 28 | 28 | 23 | 19 | ✕ | |||
| Debt | 17 | 76 | 19 | 14 | 29 | 122 | |||
| Other liabilities | 172 | 154 | 160 | 170 | 201 | 172 | |||
| Other undisclosed current liabilities | 22 | 21 | 25 | 23 | 44 | ||||
| Total current liabilities: | 1,202 | 1,199 | 1,040 | 979 | 1,026 | 1,357 | |||
| Noncurrent Liabilities | |||||||||
| Long-term debt and lease obligation, including: | 2,795 | 2,897 | 3,219 | 3,487 | |||||
| Long-term debt, excluding current maturities | 2,795 | 2,897 | 3,119 | ||||||
| Other undisclosed long-term debt and lease obligation | 3,393 | ||||||||
| Liabilities, other than long-term debt | 182 | 171 | 108 | 104 | 1,109 | 1,073 | |||
| Deferred revenue | 70 | 73 | 95 | 91 | 84 | ✕ | |||
| Deferred tax liabilities, net | ✕ | ✕ | ✕ | ✕ | ✕ | ✕ | 93 | ||
| Deferred income tax liabilities | 17 | 11 | 14 | 13 | ✕ | ||||
| Liability, pension and other postretirement and postemployment benefits | |||||||||
| Other liabilities | 1,026 | 981 | |||||||
| Operating lease, liability | 96 | 87 | 100 | 94 | ✕ | ||||
| Other undisclosed noncurrent liabilities | 573 | 575 | 811 | 973 | 3,529 | 3,594 | |||
| Total noncurrent liabilities: | 3,550 | 3,643 | 4,138 | 4,564 | 4,638 | 4,668 | |||
| Total liabilities: | 4,751 | 4,842 | 5,178 | 5,543 | 5,664 | 6,024 | |||
| Equity | |||||||||
| Equity, attributable to parent, including: | 605 | 627 | 458 | 371 | 978 | 1,484 | |||
| Treasury stock, value | (233) | (218) | (216) | (212) | (209) | (202) | |||
| Additional paid in capital | 1,383 | 1,369 | 1,352 | 1,333 | 1,314 | 1,293 | |||
| Accumulated other comprehensive loss | (263) | (275) | (365) | (412) | (361) | (311) | |||
| Retained earnings (accumulated deficit) | (283) | (250) | (314) | (320) | 249 | 704 | |||
| Other undisclosed equity, attributable to parent | 1 | 1 | 1 | (19) | (15) | 0 | |||
| Equity, attributable to noncontrolling interest | 3 | 3 | 2 | ||||||
| Total equity: | 605 | 627 | 458 | 373 | 980 | 1,486 | |||
| TOTAL LIABILITIES AND EQUITY: | 5,356 | 5,469 | 5,636 | 5,916 | 6,645 | 7,511 | |||
Income Statement (P&L) ($ in millions)
| 3/31/2024 TTM | 12/31/2023 | 12/31/2022 | 12/31/2021 | 12/31/2020 | 12/31/2019 | 12/31/2018 | ||
|---|---|---|---|---|---|---|---|---|
| Revenues | 6,080 | 5,802 | 5,157 | 4,711 | 6,531 | 7,270 | ||
| Cost of revenue (Cost of Goods and Services Sold) | (5,455) | (5,098) | (4,434) | (4,128) | (5,628) | (6,130) | ||
| Gross profit: | 624 | 705 | 723 | 583 | 903 | 1,140 | ||
| Operating expenses | (453) | (431) | (433) | (402) | (481) | (470) | ||
| Other undisclosed operating loss | (25) | (30) | (49) | (577) | (723) | (564) | ||
| Operating income (loss): | 147 | 244 | 241 | (396) | (302) | 106 | ||
| Nonoperating income (expense) | 34 | 29 | 8 | 6 | (231) | (220) | ||
| Investment income, nonoperating | 26 | 31 | 11 | 12 | 17 | 2 | ||
| Other nonoperating income (expense) | 8 | (2) | (3) | (5) | (13) | (2) | ||
| Interest and debt expense | (202) | (175) | (195) | (212) | (217) | (216) | ||
| Other undisclosed income from continuing operations before equity method investments, income taxes | 217 | 216 | ||||||
| Income (loss) from continuing operations before equity method investments, income taxes: | (21) | 98 | 53 | (602) | (533) | (114) | ||
| Other undisclosed loss from continuing operations before income taxes | (4) | (32) | (52) | (8) | ||||
| Income (loss) from continuing operations before income taxes: | (25) | 66 | 1 | (610) | (533) | (114) | ||
| Income tax expense (benefit) | (9) | (2) | 5 | 49 | 49 | 57 | ||
| Income (loss) from continuing operations: | (34) | 64 | 6 | (561) | (484) | (57) | ||
| Income (loss) before gain (loss) on sale of properties: | ✕ | ✕ | ✕ | 6 | (561) | (484) | (57) | |
| Net income (loss): | (34) | 64 | 6 | (561) | (484) | (57) | ||
| Net loss attributable to noncontrolling interest | (0) | (0) | (1) | |||||
| Net income (loss) attributable to parent: | (34) | 64 | 6 | (561) | (485) | (58) | ||
| Undistributed earnings (loss) allocated to participating securities, basic | (3) | (0) | ||||||
| Net income (loss) available to common stockholders, diluted: | (34) | 62 | 6 | (561) | (485) | (58) | ||
Comprehensive Income ($ in millions)
| 3/31/2024 TTM | 12/31/2023 | 12/31/2022 | 12/31/2021 | 12/31/2020 | 12/31/2019 | 12/31/2018 | ||
|---|---|---|---|---|---|---|---|---|
| Net income (loss): | (34) | 64 | 6 | (561) | (484) | (57) | ||
| Other comprehensive income (loss) | 13 | 89 | 67 | (56) | (38) | (19) | ||
| Comprehensive income (loss): | (21) | 154 | 73 | (617) | (522) | (76) | ||
| Comprehensive loss, net of tax, attributable to noncontrolling interest | (0) | (0) | (1) | |||||
| Other undisclosed comprehensive income, net of tax, attributable to parent | 0 | |||||||
| Comprehensive income (loss), net of tax, attributable to parent: | (21) | 154 | 73 | (617) | (522) | (76) | ||
Statements Sources
The financial statements are based on the Company's filings with the U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.