Dauch Corp

Listed Company

DCHCIK 0001062231NYSEAcceleratedMotor Vehicle Parts & AccessoriesDelawareFY ends Dec 31

Period

FY 2025

Revenue

$5.84B

Net Income

$-19.70M

Total Assets

$6.67B

Equity

$640.00M

Shares Out

235.98M

Op. Cash Flow

$411.60M

Business

AMERICAN AXLE & MANUFACTURING HOLDINGS INC designs, engineers and manufactures driveline and metal forming technologies that support electric, hybrid and internal combustion vehicles. It offers driveline systems and components (including high-efficiency and aluminum axles, e-Beam axles and electric drive units), forged and machined engine, transmission, driveline and safety-critical parts, and related engineering and testing services. The company operates primarily through its Driveline and Metal Forming segments. AAM serves global OEMs via a worldwide manufacturing, engineering and sourcing footprint across North America, Europe and Asia through direct OEM contracts.

Summary from filing dated 2025-02-14

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Net sales	5,837	6,125	6,080	5,802	5,157
Cost of goods sold	5,132	5,384	5,455	5,098	4,434
Gross profit	705	741	624	705	723
Selling, general and administrative expenses	389	387	367	345	344
Amortization of intangible assets	82	83	86	86	86
Impairment charges	8	12	0	0	—
Restructuring and acquisition-related costs	113	18	25	30	49
Operating income	112	241	147	244	241
Interest expense	−201	−186	−202	−175	−195
Interest income	40	28	26	17	11
Debt refinancing and redemption costs	−6	−600,000	−1	−6	−34
Gain on Business Combination Derivative	53	0	0	—	—
Pension curtailment and settlement charges	0	0	−1	0	−42
Loss on equity securities	0	−100,000	−1	−26	24
Other income (expense), net	4	−20	8	−2	−3
Income (loss) before income taxes	2	63	−25	66	1
Income tax expense	21	28	9	2	−5
Net income (loss)	−20	35	−34	64	6
Basic earnings (loss) per share	−0.17	0.29	−0.29	0.54	0.05
Diluted earnings (loss) per share	−0.17	0.29	−0.29	0.53	0.05

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and cash equivalents	709	553	520	512	530
Restricted cash	1,497	0	—	—	—
Accounts receivable, net	733	709	819	820	763
Inventories, net	466	443	483	464	410
Prepaid expenses and other	230	152	185	198	153
Current assets held-for-sale	0	58	0	—	—
Total current assets	3,635	1,915	2,007	1,993	1,856
Property, plant and equipment, net	1,592	1,623	1,761	1,903	1,996
Deferred income taxes	236	200	169	119	121
Goodwill	174	172	182	182	184
Other intangible assets, net	375	457	533	616	697
GM postretirement cost sharing asset	116	112	112	128	201
Operating lease right-of-use assets	122	110	116	107	124
Other assets and deferred charges	420	472	477	421	457
Total assets	6,670	5,060	5,356	5,469	5,636
Current portion of long-term debt	10	48	17	76	19
Accounts payable	718	701	774	734	613
Accrued compensation and benefits	255	193	200	187	195
Deferred revenue	39	14	17	28	28
Current portion of operating lease liabilities	25	23	22	21	25
Accrued expenses and other	187	172	172	154	160
Current liabilities held-for-sale	0	24	0	—	—
Total current liabilities	1,234	1,175	1,202	1,199	1,040
Long-term debt, net	4,039	2,577	2,752	2,845	3,086
Deferred revenue	34	37	70	73	95
Deferred income taxes	9	12	17	11	14
Long-term portion of operating lease liabilities	100	90	96	87	100
Postretirement benefits and other long-term liabilities	614	606	616	626	844
Total liabilities	6,030	4,497	4,751	4,842	5,178
Preferred stock, par value $0.01 per share; 10.0 million shares authorized; no shares outstanding in 2025 or 2024	0	0	0	0	0
Series common stock, par value $0.01 per share; 40.0 million shares authorized; no shares outstanding in 2025 or 2024	0	0	0	0	0
Common stock, par value $0.01 per share; 150.0 million shares authorized; 130.0 million and 128.3 million shares issued as of December 31, 2025 and December 31, 2024, respectively	1	1	1	1	1
Paid-in capital	1,411	1,398	1,383	1,369	1,352
Accumulated deficit	−268	−248	−283	−250	−314
Treasury stock at cost, 11.3 million shares in 2025 and 10.7 million shares in 2024	−239	−236	−233	−218	−216
Defined benefit plans, net of tax	−164	−157	−145	147	−242
Foreign currency translation adjustments	−110	−187	−142	−150	−111
Unrecognized gain (loss) on hedges, net of tax	8	−8	25	21	−12
Total stockholders' equity	640	563	605	627	458
Total liabilities and stockholders' equity	6,670	5,060	5,356	5,469	5,636

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Depreciation and amortization	460	470	487	492	544
Impairment charge	8	12	0	0	0
Deferred income taxes	−43	−32	−46	−30	−27
Stock-based compensation	14	15	13	18	18
Pensions and other postretirement benefits, net of contributions	−8	−13	−19	−12	20
Loss on disposal of property, plant and equipment, net	9	6	6	−500,000	6
Debt refinancing and redemption costs	6	600,000	1	6	34
Accounts receivable	−23	70	7	−39	23
Inventories	−7	17	−13	−16	−88
Accounts payable and accrued expenses	93	−64	59	61	63
Deferred revenue	15	−33	−16	−17	13
Other assets and liabilities	−40	−28	−51	−91	−52
Net cash provided by operating activities	412	455	396	449	538
Purchases of property, plant and equipment	−257	−248	−195	−171	−181
Proceeds from sale of property, plant and equipment	6	4	900,000	5	2
Proceeds from government grants	0	2	0	0	—
Purchase buyouts of leases	−6	−3	−2	−4	0
Proceeds from sale of business, net	64	0	0	0	1
Proceeds from disposition of affiliates	30	0	0	—	—
Acquisition of business, net of cash acquired	−3	−7	−3	−89	−5
Proceeds from sale of equity securities	0	800,000	0	0	—
Investment in affiliates	−5	−3	−3	−400,000	−1
Proceeds from insurance claim	0	0	17	17	23
Net cash used in investing activities	−170	−255	−185	−243	−161
Payments of Revolving Credit Facility	0	0	−25	0	0
Proceeds from issuance of long-term debt	2,109	7	36	248	635
Payments of long-term debt	−677	−155	−185	−458	−1,018
Debt issuance costs	−28	−2	−3	−31	−9
Purchase of treasury stock	−3	−3	−15	−2	−4
Finance lease obligations and other	−5	−3	−14	2	−5
Net cash provided by (used in) financing activities	1,396	−156	−206	−217	−401
Effect of exchange rate changes on cash	15	−11	2	−7	−3
Net increase in cash, cash equivalents and restricted cash	1,653	33	8	−19	−27
Interest paid	176	185	186	173	185
Income taxes paid, net	55	50	55	40	27

Filings

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