American Axle & Mfg Holdings Files 2024 10-K

TL;DR

AXL filed its 2024 10-K. Full financials and biz details out now.

AI Summary

American Axle & Manufacturing Holdings Inc. filed its 2024 10-K on February 14, 2025, reporting on its fiscal year ending December 31, 2024. The company, a key player in the motor vehicle parts and accessories industry, is incorporated in Delaware and headquartered in Detroit, Michigan. The filing details its financial performance and operational status for the past fiscal year.

Why It Matters

This 10-K filing provides investors and analysts with a comprehensive overview of American Axle's financial health and strategic direction for the 2024 fiscal year, impacting decisions related to the automotive supply chain.

Risk Assessment

Risk Level: medium — The filing is a standard annual report and does not inherently indicate new risks beyond those typical for the automotive parts industry.

Key Players & Entities

• AMERICAN AXLE & MANUFACTURING HOLDINGS INC (company) — Filer
• DETROIT (location) — Headquarters City
• DE (location) — State of Incorporation
• 20241231 (date) — Fiscal Year End
• 20250214 (date) — Filing Date

FAQ

Key Financial Figures

• $0.01 — ich Registered Common Stock, Par Value $0.01 Per Share AXL New York Stock Exchange
• $6.99 — rted on the New York Stock Exchange was $6.99 per share and the aggregate market valu
• $65 m — ration Pvt., Ltd.) for a sales price of $65 million, subject to certain customary adj
• $1.44 billion — re capital of Dowlais for approximately $1.44 billion in cash and AAM shares. Our pending com

Filing Documents

• axl-20241231.htm (10-K) — 2714KB
• exhibit4-13descriptionofre.htm (EX-4.13) — 16KB
• exhibit1026incentivecompen.htm (EX-10.26) — 33KB
• exhibit19insidertradingpol.htm (EX-19) — 90KB
• exhibit21subsidiariesofthe.htm (EX-21) — 37KB
• exhibit22subsidiaryguarant.htm (EX-22) — 16KB
• exhibit23consentofexternal.htm (EX-23) — 2KB
• exhibit31-1certificationce.htm (EX-31.1) — 7KB
• exhibit31-2certificationcf.htm (EX-31.2) — 8KB
• exhibit32certification9062.htm (EX-32) — 7KB
• 0001062231-25-000008.txt ( ) — 16511KB
• axl-20241231.xsd (EX-101.SCH) — 98KB
• axl-20241231_cal.xml (EX-101.CAL) — 130KB
• axl-20241231_def.xml (EX-101.DEF) — 691KB
• axl-20241231_lab.xml (EX-101.LAB) — 1197KB
• axl-20241231_pre.xml (EX-101.PRE) — 923KB
• axl-20241231_htm.xml (XML) — 3085KB

Business

Business 2 Item 1A

Risk Factors

Risk Factors 11 Item 1B Unresolved Staff Comments 25 Item 1C Cybersecurity 25 Item 2

Properties

Properties 27 Item 3

Legal Proceedings

Legal Proceedings 27 Item 4 Mine Safety Disclosures 27 Part II Item 5 Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 28 Item 6 [Reserved] 28 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 29 Item 7A

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 52 Item 8

Financial Statements and Supplementary Data

Financial Statements and Supplementary Data 54 Item 9 Changes in and Disagreements with Accountants on Accounting and Financial Disclosure 105 Item 9A

Controls and Procedures

Controls and Procedures 105 Item 9B Other Information 105 Item 9C Disclosure Regarding Foreign Jurisdictions that Prevent Inspections 105 Part III Item 10 Directors, Executive Officers and Corporate Governance 106 Item 11

Executive Compensation

Executive Compensation 106 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 106 Item 13 Certain Relationships and Related Transactions, and Director Independence 106 Item 14 Principal Accounting Fees and Services 106 Part IV Item 15 Exhibits and Financial Statement Schedules 107 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, Michigan, with over 75 facilities in 16 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 42% of our consolidated net sales in 2024, 39% in 2023, and 40% in 2022. 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 13% of our consolidated net sales in 2024, 16% in 2023, and 18% in 2022. We are also a supplier to Ford Mot

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View this 10-K filing on SEC EDGAR