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American Axle & Manufacturing Holdings Inc – ‘10-Q’ for 6/30/17 – ‘EX-18’

On:  Friday, 7/28/17, at 3:57pm ET   ·   For:  6/30/17   ·   Accession #:  1062231-17-47   ·   File #:  1-14303

Previous ‘10-Q’:  ‘10-Q’ on 5/5/17 for 3/31/17   ·   Next:  ‘10-Q’ on 11/3/17 for 9/30/17   ·   Latest:  ‘10-Q’ on 5/3/24 for 3/31/24

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  As Of               Filer                 Filing    For·On·As Docs:Size

 7/28/17  American Axle & Mfg Holdings Inc  10-Q        6/30/17   87:15M

Quarterly Report   —   Form 10-Q   —   Sect. 13 / 15(d) – SEA’34
Filing Table of Contents

Document/Exhibit                   Description                      Pages   Size 

 1: 10-Q        June 30, 2017 Form 10-Q                             HTML    926K 
 2: EX-18       Letter Regarding Change in Accounting Principle     HTML     25K 
 3: EX-31.1     Section 302 Certification of the CEO                HTML     30K 
 4: EX-31.2     Section 302 Certification of the CFO                HTML     30K 
 5: EX-32       Section 906 Certification of the CEO and CFO        HTML     27K 
12: R1          Document and Entity Information Document            HTML     46K 
13: R2          Condensed Consolidated Statements of Income         HTML     72K 
14: R3          Condensed Consolidated Statements of Comprehensive  HTML     47K 
                Income                                                           
15: R4          Condensed Consolidated Statements of Comprehensive  HTML     28K 
                Income (Parenthetical)                                           
16: R5          Condensed Consolidated Balance Sheets               HTML    129K 
17: R6          Condensed Consolidated Balance Sheets               HTML     28K 
                (Parenthetical)                                                  
18: R7          Condensed Consolidated Statements of Cash Flows     HTML    112K 
19: R8          Organization and Basis of Presentation              HTML     55K 
20: R9          Restructuring and Acquisition-Related Costs         HTML     56K 
21: R10         Business Combinations                               HTML     74K 
22: R11         Goodwill and Intangible Assets                      HTML    104K 
23: R12         Inventories                                         HTML     40K 
24: R13         Long-Term Debt                                      HTML     73K 
25: R14         Fair Value                                          HTML    126K 
26: R15         Derivatives                                         HTML     77K 
27: R16         Employee Benefit Plans                              HTML     80K 
28: R17         Product Warranties                                  HTML     54K 
29: R18         Income Taxes                                        HTML     33K 
30: R19         Earnings Per Share (Eps)                            HTML     90K 
31: R20         Reclassifications out of Accumulated Other          HTML    174K 
                Comprehensive Income (Loss)                                      
32: R21         Segment Reporting                                   HTML    179K 
33: R22         Supplemental Guarantor Condensed Consolidating      HTML    882K 
                Financial Statements                                             
34: R23         Organization and Basis of Presentation (Policies)   HTML     57K 
35: R24         Restructuring and Acquisition-Related Costs         HTML     56K 
                (Tables)                                                         
36: R25         Business Combinations (Tables)                      HTML     60K 
37: R26         Goodwill and Intangible Assets (Tables)             HTML    107K 
38: R27         Inventories (Tables)                                HTML     39K 
39: R28         Long-Term Debt (Tables)                             HTML     58K 
40: R29         Fair Value (Tables)                                 HTML    125K 
41: R30         Derivatives (Tables)                                HTML     73K 
42: R31         Employee Benefit Plans (Tables)                     HTML     77K 
43: R32         Product Warranties (Tables)                         HTML     53K 
44: R33         Earnings Per Share (Tables)                         HTML     89K 
45: R34         Reclassifications out of Accumulated Other          HTML    172K 
                Comprehensive Income (Loss) (Tables)                             
46: R35         Segment Reporting (Tables)                          HTML    176K 
47: R36         Supplemental Guarantor Condensed Consolidating      HTML    884K 
                Financial Statements (Tables)                                    
48: R37         Effect of Change in Accounting Principle (Details)  HTML     45K 
49: R38         Share Repurchase Program (Details)                  HTML     30K 
50: R39         Restructuring and Acquisition-Related Costs         HTML     44K 
                (Details)                                                        
51: R40         Restructuring Reserve Narrative (Details)           HTML     36K 
52: R41         Business Combinations, Separately Recognized        HTML     37K 
                Transactions Table (Details)                                     
53: R42         Acquisition of MPG Narrative (Details)              HTML     87K 
54: R43         MPG Acquisition Table (Details)                     HTML     76K 
55: R44         USM Acquisition Table (Details)                     HTML     68K 
56: R45         Goodwill Rollforward (Details)                      HTML     52K 
57: R46         Intangible Assets Acquired Table (Details)          HTML     40K 
58: R47         Intangible Assets Table (Details)                   HTML     65K 
59: R48         Inventories (Details)                               HTML     36K 
60: R49         Inventories - Change in Accounting Principle        HTML     32K 
                (Details)                                                        
61: R50         Schedule of Long-Term Debt (Details)                HTML     75K 
62: R51         New Senior Secured Credit Facilities Narrative      HTML     68K 
                (Details)                                                        
63: R52         Issuance of New Notes Narrative (Details)           HTML     39K 
64: R53         Repayment of MPG Indebtedness (Details)             HTML     41K 
65: R54         Other Debt Disclosures Narrative (Details)          HTML     33K 
66: R55         Fair Value of Assets and Liabilities Measured on a  HTML     78K 
                Recurring Basis (Details)                                        
67: R56         Fair Value of Debt (Details)                        HTML     63K 
68: R57         Derivatives Narrative (Details)                     HTML     36K 
69: R58         Schedule of Derivatives (Details)                   HTML     57K 
70: R59         Schedule of Employee Benefit Plans Components of    HTML     46K 
                Net Periodic Benefit Cost (Credit) (Details)                     
71: R60         Employee Benefit Plans and Other Postretirement     HTML     34K 
                Benefit Plans Narrative (Details)                                
72: R61         Product Warranties (Details)                        HTML     36K 
73: R62         Income Taxes (Narrative) (Details)                  HTML     32K 
74: R63         Earnings Per Share (Details)                        HTML     54K 
75: R64         Earnings Per Share Narrative (Details)              HTML     30K 
76: R65         Reclassifications out of Accumulated Other          HTML    103K 
                Comprehensive Income (Loss) (Details)                            
77: R66         Reclassifications out of Accumulated Other          HTML     31K 
                Comprehensive Income (Loss) (Parenthetical)                      
                (Details)                                                        
78: R67         Segment Reporting Sales and Segment Adjusted        HTML     46K 
                EBITDA (Details)                                                 
79: R68         Total Assets by Segment (Details)                   HTML     36K 
80: R69         Reconciliation of Segment Adjusted EBITDA           HTML     48K 
                (Non-GAAP Measure) to Income Before Income Taxes                 
                (Details)                                                        
81: R70         Supplemental Guarantor Condensed Consolidating      HTML     40K 
                Financial Statements Narrative (Details)                         
82: R71         Supplemental Guarantor Condensed Consolidating      HTML    126K 
                Statements of Income (Details)                                   
83: R72         Supplemental Guarantor Condensed Consolidating      HTML    162K 
                Balance Sheets (Details)                                         
84: R73         Supplemental Guarantor Condensed Consolidating      HTML    125K 
                Statements of Cash Flows (Details)                               
86: XML         IDEA XML File -- Filing Summary                      XML    155K 
85: EXCEL       IDEA Workbook of Financial Reports                  XLSX    109K 
 6: EX-101.INS  XBRL Instance -- axl-20170630                        XML   5.85M 
 8: EX-101.CAL  XBRL Calculations -- axl-20170630_cal                XML    323K 
 9: EX-101.DEF  XBRL Definitions -- axl-20170630_def                 XML   1.11M 
10: EX-101.LAB  XBRL Labels -- axl-20170630_lab                      XML   1.61M 
11: EX-101.PRE  XBRL Presentations -- axl-20170630_pre               XML   1.22M 
 7: EX-101.SCH  XBRL Schema -- axl-20170630                          XSD    169K 
87: ZIP         XBRL Zipped Folder -- 0001062231-17-000047-xbrl      Zip    338K 


‘EX-18’   —   Letter Regarding Change in Accounting Principle


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June 15, 2017
American Axle & Manufacturing Holdings, Inc.
One Dauch Drive
Detroit, MI 48211
Dear Sirs/Madams:
At your request, we have read the description included in your Quarterly Report on Form 10-Q to the Securities and Exchange Commission for the quarter ended June 30, 2017, of the facts relating to the change in accounting policy for indirect inventory from capitalizing and recording as expense when the indirect inventory was consumed to now expensing indirect inventory at the time of purchase. With regard to the aforementioned accounting change, authoritative criteria has not been established for evaluating the preferability of one acceptable method of accounting over another acceptable method. We believe, based on the facts so set forth, other information furnished to us by appropriate officials of American Axle & Manufacturing Holdings, Inc. (the “Company”) and with reliance on management’s business judgment and planning, that the accounting change described in your Form 10-Q is to an alternative accounting principle that is preferable under the circumstances.
We have not audited any consolidated financial statements of the Company and its consolidated subsidiaries as of any date or for any period subsequent to December 31, 2016. Therefore, we are unable to express, and we do not express, an opinion on the facts set forth in the above-mentioned Form 10-Q, on the related information furnished to us by officials of the Company, or on the financial position, results of operations, or cash flows of the Company as of any date or for any period subsequent to December 31, 2016.

Yours truly,
/s/ Deloitte and Touche LLP
Detroit, Michigan





Dates Referenced Herein   and   Documents Incorporated by Reference

This ‘10-Q’ Filing    Date    Other Filings
Filed on:7/28/178-K
For Period end:6/30/17
6/15/17
12/31/1610-K,  10-K/A,  DEF 14A,  SD
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Filing Submission 0001062231-17-000047   –   Alternative Formats (Word / Rich Text, HTML, Plain Text, et al.)

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