American Axle & Manufacturing Holdings Inc. Files 2023 Annual Report

TL;DR

<b>American Axle & Manufacturing Holdings Inc. has filed its 2023 10-K report.</b>

AI Summary

AMERICAN AXLE & MANUFACTURING HOLDINGS INC (DCH) filed a Annual Report (10-K) with the SEC on February 16, 2024. Filed 10-K for the fiscal year ended December 31, 2023. Company name: AMERICAN AXLE & MANUFACTURING HOLDINGS INC. Standard Industrial Classification: MOTOR VEHICLE PARTS & ACCESSORIES [3714]. Incorporated in Delaware. Primary business address: One Dauch Drive, Detroit, MI 48211-1198.

Why It Matters

For investors and stakeholders tracking AMERICAN AXLE & MANUFACTURING HOLDINGS INC, this filing contains several important signals. This filing provides a comprehensive overview of the company's financial performance and operations for the fiscal year 2023. Investors and analysts can use this report to assess the company's financial health, strategic direction, and potential risks.

Risk Assessment

Risk Level: medium — AMERICAN AXLE & MANUFACTURING HOLDINGS INC shows moderate risk based on this filing. The filing is a standard 10-K, which typically contains a broad range of financial and operational information, but lacks specific forward-looking guidance or immediate significant financial events that would elevate the risk level.

Analyst Insight

Review the detailed financial statements and risk factors within the 10-K to understand the company's performance and outlook for the upcoming fiscal year.

Key Numbers

• 2023-12-31 — Fiscal Year End (Conformed period of report)
• 2024-02-16 — Filing Date (Filed as of date)
• 3714 — SIC Code (Standard Industrial Classification)

Key Players & Entities

• AMERICAN AXLE & MANUFACTURING HOLDINGS INC (company) — Filer name
• DETROIT (location) — Business and mailing address city
• MI (location) — Business and mailing address state
• 48211-1198 (location) — Business and mailing address zip code
• 3137583600 (phone_number) — Business phone number

FAQ

Industry Context

American Axle & Manufacturing Holdings Inc. operates within the Motor Vehicle Parts & Accessories industry.

Regulatory Implications

The filing is made under the Securities Exchange Act of 1934.

What Investors Should Do

1. Analyze the company's financial statements for the fiscal year ended December 31, 2023.
2. Review any disclosed risk factors to understand potential challenges.
3. Compare the 2023 results with previous years to identify trends.

Key Dates

• 2023-12-31: Fiscal Year End — Marks the end of the reporting period for the 10-K filing.
• 2024-02-16: Filing Date — Date the 10-K report was officially filed with the SEC.

Year-Over-Year Comparison

This is the initial filing data provided; no prior filing data is available for comparison.

Key Financial Figures

• $0.01 — ich Registered Common Stock, Par Value $0.01 Per Share AXL New York Stock Exchange
• $8.27 — rted on the New York Stock Exchange was $8.27 per share and the aggregate market valu

Filing Documents

• axl-20231231.htm (10-K) — 2670KB
• exhibit4-12descriptionofre.htm (EX-4.12) — 16KB
• exhibit1032incentivecompen.htm (EX-10.32) — 33KB
• exhibit21subsidiariesofthe.htm (EX-21) — 40KB
• exhibit22subsidiaryguarant.htm (EX-22) — 15KB
• exhibit23consentofexternal.htm (EX-23) — 2KB
• exhibit31-1certificationce.htm (EX-31.1) — 7KB
• exhibit31-2certificationcf.htm (EX-31.2) — 8KB
• exhibit32certification9062.htm (EX-32) — 7KB
• exhibit97dodd-frankclawbac.htm (EX-97) — 18KB
• 0001062231-24-000007.txt (&nbsp;) — 15826KB
• axl-20231231.xsd (EX-101.SCH) — 95KB
• axl-20231231_cal.xml (EX-101.CAL) — 127KB
• axl-20231231_def.xml (EX-101.DEF) — 677KB
• axl-20231231_lab.xml (EX-101.LAB) — 1170KB
• axl-20231231_pre.xml (EX-101.PRE) — 857KB
• axl-20231231_htm.xml (XML) — 3029KB

Business

Business 2 Item 1A

Risk Factors

Risk Factors 11 Item 1B Unresolved Staff Comments 20 Item 1C Cybersecurity 21 Item 2

Properties

Properties 22 Item 3

Legal Proceedings

Legal Proceedings 22 Item 4 Mine Safety Disclosures 22 Part II Item 5 Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 23 Item 6 [Reserved] 23 Item 7

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 24 Item 7A

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 45 Item 8

Financial Statements and Supplementary Data

Financial Statements and Supplementary Data 46 Item 9 Changes in and Disagreements with Accountants on Accounting and Financial Disclosure 98 Item 9A

Controls and Procedures

Controls and Procedures 98 Item 9B Other Information 98 Item 9C Disclosure Regarding Foreign Jurisdictions that Prevent Inspections 98 Part III Item 10 Directors, Executive Officers and Corporate Governance 99 Item 11

Executive Compensation

Executive Compensation 99 Item 12

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 99 Item 13 Certain Relationships and Related Transactions, and Director Independence 99 Item 14 Principal Accounting Fees and Services 99 Part IV Item 15 Exhibits and Financial Statement Schedules 100 1 Part I

Business

Item 1. Business As used in this report, except as otherwise indicated in information incorporated by reference, references to "our Company," "we," "our," "us" or "AAM" mean American Axle & Manufacturing Holdings, Inc. (Holdings) and its subsidiaries and predecessors, collectively. General Development of Business Holdings, a Delaware corporation, is a successor to American Axle & Manufacturing of Michigan, Inc., a Michigan corporation, pursuant to a migratory merger between these entities in 1999. In 2017, we acquired Metaldyne Performance Group, Inc. (MPG), with MPG becoming a wholly-owned subsidiary of Holdings. Narrative Description of Business Company Overview As a leading global tier 1 automotive and mobility supplier, AAM designs, engineers and manufactures Driveline and Metal Forming technologies to support electric, hybrid and internal combustion vehicles. Headquartered in Detroit with over 80 facilities in 18 countries, AAM is bringing the future faster for a safer and more sustainable tomorrow. Major Customers We are a primary supplier of driveline components to General Motors Company (GM) for its full-size rear-wheel drive (RWD) light trucks, sport utility vehicles (SUV), and crossover vehicles manufactured in North America, supplying a significant portion of GM's rear axle and four-wheel drive and all-wheel drive (4WD/AWD) axle requirements for these vehicle platforms. We also supply GM with various products from our Metal Forming segment. Sales to GM were approximately 39% of our consolidated net sales in 2023, 40% in 2022, and 37% in 2021. We also supply driveline system products to Stellantis N.V. (Stellantis) for programs including the heavy-duty Ram full-size pickup trucks and its derivatives. In addition, we sell various products to Stellantis from our Metal Forming segment. Sales to Stellantis were approximately 16% of our consolidated net sales in 2023, 18% in 2022 and 19% in 2021. We are also a supplier to Ford Motor Company (

View Full Filing

View this 10-K filing on SEC EDGAR