$ALSN
Allison Transmission Holdings Inc

2023 Q2 Form 10-Q Financial Statement

#000095017023015499 Filed on April 28, 2023

View on sec.gov

Income Statement

Concept 2023 Q2 2023 Q1
Revenue $783.0M $741.0M
YoY Change 17.92% 9.45%
Cost Of Revenue $402.0M $380.0M
YoY Change 13.88% 6.44%
Gross Profit $381.0M $361.0M
YoY Change 22.51% 12.81%
Gross Profit Margin 48.66% 48.72%
Selling, General & Admin $92.00M $87.00M
YoY Change 17.95% 16.0%
% of Gross Profit 24.15% 24.1%
Research & Development $47.00M $44.00M
YoY Change 2.17% 2.33%
% of Gross Profit 12.34% 12.19%
Depreciation & Amortization $38.00M $26.00M
YoY Change 0.0% -3.7%
% of Gross Profit 9.97% 7.2%
Operating Expenses $139.0M $131.0M
YoY Change 12.1% 11.02%
Operating Profit $242.0M $230.0M
YoY Change 29.41% 13.86%
Interest Expense -$28.00M -$22.00M
YoY Change 0.0% -42.11%
% of Operating Profit -11.57% -9.57%
Other Income/Expense, Net $2.000M $10.00M
YoY Change -166.67% -200.0%
Pretax Income $216.0M $212.0M
YoY Change 40.26% 30.06%
Income Tax $41.00M $42.00M
% Of Pretax Income 18.98% 19.81%
Net Earnings $175.0M $170.0M
YoY Change 43.44% 31.78%
Net Earnings / Revenue 22.35% 22.94%
Basic Earnings Per Share $1.94 $1.85
Diluted Earnings Per Share $1.92 $1.85
COMMON SHARES
Basic Shares Outstanding 91.06M 91.86M
Diluted Shares Outstanding 91.00M 92.00M

Balance Sheet

Concept 2023 Q2 2023 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $351.0M $369.0M
YoY Change 126.45% 109.66%
Cash & Equivalents $351.0M $344.0M
Short-Term Investments $24.00M $25.00M
Other Short-Term Assets $59.00M $48.00M
YoY Change 13.46% 2.13%
Inventory $278.0M $257.0M
Prepaid Expenses
Receivables $381.0M $394.0M
Other Receivables $0.00 $0.00
Total Short-Term Assets $1.069B $1.043B
YoY Change 39.74% 40.0%
LONG-TERM ASSETS
Property, Plant & Equipment $761.0M $757.0M
YoY Change 7.94% 6.92%
Goodwill $2.076B $2.075B
YoY Change 0.0% -0.1%
Intangibles $855.0M $867.0M
YoY Change -5.11% -5.04%
Long-Term Investments $24.00M $25.00M
YoY Change -27.27% -19.35%
Other Assets $71.00M $66.00M
YoY Change 31.48% 24.53%
Total Long-Term Assets $3.787B $3.790B
YoY Change 0.48% 0.21%
TOTAL ASSETS
Total Short-Term Assets $1.069B $1.043B
Total Long-Term Assets $3.787B $3.790B
Total Assets $4.856B $4.833B
YoY Change 7.1% 6.76%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $238.0M $221.0M
YoY Change 20.2% -3.07%
Accrued Expenses $139.0M $122.0M
YoY Change 13.01% 6.09%
Deferred Revenue $46.00M $45.00M
YoY Change 17.95% 28.57%
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $6.000M $6.000M
YoY Change 0.0% 0.0%
Total Short-Term Liabilities $497.0M $526.0M
YoY Change 15.31% 7.57%
LONG-TERM LIABILITIES
Long-Term Debt $2.499B $2.500B
YoY Change -0.12% -0.12%
Other Long-Term Liabilities $287.0M $168.0M
YoY Change 42.79% -20.38%
Total Long-Term Liabilities $2.786B $2.668B
YoY Change 3.07% -1.69%
TOTAL LIABILITIES
Total Short-Term Liabilities $497.0M $526.0M
Total Long-Term Liabilities $2.786B $2.668B
Total Liabilities $3.800B $3.845B
YoY Change 0.4% -0.08%
SHAREHOLDERS EQUITY
Retained Earnings -$788.0M -$845.0M
YoY Change -23.57% -23.04%
Common Stock $1.868B $1.857B
YoY Change 1.58% 1.36%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $1.056B $988.0M
YoY Change
Total Liabilities & Shareholders Equity $4.856B $4.833B
YoY Change 7.1% 6.76%

Cashflow Statement

Concept 2023 Q2 2023 Q1
OPERATING ACTIVITIES
Net Income $175.0M $170.0M
YoY Change 43.44% 31.78%
Depreciation, Depletion And Amortization $38.00M $26.00M
YoY Change 0.0% -3.7%
Cash From Operating Activities $141.0M $193.0M
YoY Change 113.64% 18.4%
INVESTING ACTIVITIES
Capital Expenditures $19.00M $24.00M
YoY Change -163.33% 20.0%
Acquisitions
YoY Change
Other Investing Activities $0.00 $2.000M
YoY Change -111.11%
Cash From Investing Activities -$19.00M -$22.00M
YoY Change -36.67% -42.11%
FINANCING ACTIVITIES
Cash Dividend Paid $22.00M
YoY Change 10.0%
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -115.0M -59.00M
YoY Change 105.36% -44.34%
NET CHANGE
Cash From Operating Activities 141.0M 193.0M
Cash From Investing Activities -19.00M -22.00M
Cash From Financing Activities -115.0M -59.00M
Net Change In Cash 7.000M 112.0M
YoY Change -135.0% 522.22%
FREE CASH FLOW
Cash From Operating Activities $141.0M $193.0M
Capital Expenditures $19.00M $24.00M
Free Cash Flow $122.0M $169.0M
YoY Change 27.08% 18.18%

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CY2022Q1 us-gaap Proceeds From Long Term Lines Of Credit
ProceedsFromLongTermLinesOfCredit
95000000
CY2023Q1 us-gaap Repayments Of Long Term Lines Of Credit
RepaymentsOfLongTermLinesOfCredit
0
CY2022Q1 us-gaap Repayments Of Long Term Lines Of Credit
RepaymentsOfLongTermLinesOfCredit
95000000
CY2023Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-59000000
CY2022Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-106000000
CY2023Q1 us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
0
CY2022Q1 us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
0
CY2023Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
112000000
CY2022Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
18000000
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
232000000
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
127000000
CY2023Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
344000000
CY2022Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
145000000
CY2023Q1 us-gaap Interest Paid Net
InterestPaidNet
29000000
CY2022Q1 us-gaap Interest Paid Net
InterestPaidNet
26000000
CY2023Q1 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
2000000
CY2022Q1 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
1000000
CY2023Q1 us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
6000000
CY2022Q1 us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
15000000
CY2021Q4 us-gaap Stockholders Equity
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634000000
CY2022Q1 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
3000000
CY2022Q1 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Net Of Tax
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2000000
CY2022Q1 alsn Other Comprehensive Income Loss Available For Sale Securities And Derivatives Adjustment Net Of Tax
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19000000
CY2022Q1 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
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CY2022Q1 us-gaap Stock Repurchased And Retired During Period Value
StockRepurchasedAndRetiredDuringPeriodValue
81000000
CY2022Q1 us-gaap Dividends Common Stock Cash
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20000000
CY2022Q1 us-gaap Net Income Loss
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129000000
CY2022Q1 us-gaap Stockholders Equity
StockholdersEquity
679000000
CY2022Q4 us-gaap Stockholders Equity
StockholdersEquity
874000000
CY2023Q1 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
5000000
CY2023Q1 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Net Of Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax
2000000
CY2023Q1 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
2000000
CY2023Q1 alsn Other Comprehensive Income Loss Available For Sale Securities And Derivatives Adjustment Net Of Tax
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CY2023Q1 us-gaap Stock Issued During Period Value New Issues
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4000000
CY2023Q1 us-gaap Stock Repurchased And Retired During Period Value
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40000000
CY2023Q1 us-gaap Dividends Common Stock Cash
DividendsCommonStockCash
22000000
CY2023Q1 us-gaap Net Income Loss
NetIncomeLoss
170000000
CY2023Q1 us-gaap Stockholders Equity
StockholdersEquity
988000000
CY2023Q1 us-gaap Nature Of Operations
NatureOfOperations
<p style="text-indent:0.0%;font-size:10.0pt;margin-top:18.0pt;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:bold;font-size:10.0pt;font-family:&quot;Arial&quot;, sans-serif;min-width:fit-content;">NOTE A. OVERVIEW</span></p><p style="text-indent:2.267%;font-size:10.0pt;margin-top:6.0pt;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:bold;font-size:10.0pt;font-family:&quot;Arial&quot;, sans-serif;font-style:italic;min-width:fit-content;">Overview</span></p><p style="text-indent:4.44%;font-size:10.0pt;margin-top:6.0pt;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Arial&quot;, sans-serif;min-width:fit-content;">Allison Transmission Holdings, Inc. and its subsidiaries (“Allison” or the “Company”) design and manufacture vehicle propulsion solutions, including commercial-duty on-highway, off-highway and defense fully automatic transmissions and electric hybrid and fully electric systems. The business was founded in 1915 and has been headquartered in Indianapolis, Indiana since inception. Allison is traded on the New York Stock Exchange under the symbol, “ALSN”.</span></p><p style="text-indent:4.44%;font-size:10.0pt;margin-top:6.0pt;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Arial&quot;, sans-serif;min-width:fit-content;">Although approximately </span><span style="font-size:10.0pt;font-family:&quot;Arial&quot;, sans-serif;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Arial&quot;, sans-serif;min-width:fit-content;">74</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Arial&quot;, sans-serif;min-width:fit-content;">% of revenues were generated in North America in 2022, the Company has a global presence by serving customers in Asia, Europe, South America and Africa. The Company serves customers through an independent network of approximately </span><span style="font-size:10.0pt;font-family:&quot;Arial&quot;, sans-serif;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Arial&quot;, sans-serif;min-width:fit-content;">1,600</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Arial&quot;, sans-serif;min-width:fit-content;"> independent distributor and dealer locations worldwide.</span></p>
CY2022Q4 alsn Worldwide Independent Distributor And Dealer Locations
WorldwideIndependentDistributorAndDealerLocations
1600
CY2022Q4 us-gaap Other Inventory Net Of Reserves
OtherInventoryNetOfReserves
53000000
CY2023Q1 us-gaap Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
64000000
CY2022Q4 us-gaap Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
49000000
CY2023Q1 us-gaap Inventory Net
InventoryNet
257000000
CY2022Q4 us-gaap Inventory Net
InventoryNet
224000000
CY2023Q1 us-gaap Use Of Estimates
UseOfEstimates
<p style="text-indent:2.267%;font-size:10.0pt;margin-top:6.0pt;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:bold;font-size:10.0pt;font-family:&quot;Arial&quot;, sans-serif;font-style:italic;min-width:fit-content;">Use of Estimates</span></p><p style="text-indent:4.4%;font-size:10.0pt;margin-top:6.0pt;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Arial&quot;, sans-serif;min-width:fit-content;">The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities and the reported amounts of revenue and expenses. Estimates include, but are not limited to, sales incentives, government price adjustments, fair market values and future cash flows associated with goodwill, indefinite-lived intangibles, definite-lived intangibles, long-lived asset impairment tests, useful lives for depreciation and amortization, warranty liabilities, core deposit liabilities, environmental liabilities, determination of discount rate and other assumptions for pension and other post-retirement benefit ("OPEB") expense, determination of discount rate and period for leases, income taxes and deferred tax valuation allowances, derivative valuation, assumptions for business combinations and contingencies. The Company’s accounting policies involve the application of judgments and assumptions made by management that include inherent risks and uncertainties. Due to the uncertainty surrounding global economic conditions, including as a result of government actions to control inflation, the war in Ukraine and the ongoing effects of the COVID-19 pandemic, and the resulting impacts on the Company's supply chain, demand for its products, foreign exchange rates, interest rates and the cost and availability of raw materials, labor, energy and transport, actual results could differ materially from these estimates and assum</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Arial&quot;, sans-serif;min-width:fit-content;">ptions used in preparation of the financial statements including, but not limited to, future cash flows associated with goodwill, indefinite-lived intangibles, definite-lived intangibles, long-lived asset impairment tests, determination of discount rate and other assumptions for pension and OPEB expense and income taxes. Changes in estimates are recorded in results of operations in the period that the events or circumstances giving rise to such changes occur.</span></p>
CY2023Q1 alsn Revenue Adjustments To Variable Consideration Constraint
RevenueAdjustmentsToVariableConsiderationConstraint
0
CY2022Q1 alsn Revenue Adjustments To Variable Consideration Constraint
RevenueAdjustmentsToVariableConsiderationConstraint
0
CY2023Q1 alsn Product Sales Credit Term
ProductSalesCreditTerm
P30D
CY2023Q1 us-gaap Contract With Customer Asset Net
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0
CY2022Q4 us-gaap Contract With Customer Asset Net
ContractWithCustomerAssetNet
0
CY2023Q1 us-gaap Number Of Operating Segments
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1
CY2023Q1 us-gaap Number Of Reportable Segments
NumberOfReportableSegments
1
CY2023Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
741000000
CY2022Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
677000000
CY2023Q1 us-gaap Inventory Parts And Components Net Of Reserves
InventoryPartsAndComponentsNetOfReserves
128000000
CY2022Q4 us-gaap Inventory Parts And Components Net Of Reserves
InventoryPartsAndComponentsNetOfReserves
115000000
CY2023Q1 us-gaap Inventory Work In Process Net Of Reserves
InventoryWorkInProcessNetOfReserves
12000000
CY2022Q4 us-gaap Inventory Work In Process Net Of Reserves
InventoryWorkInProcessNetOfReserves
7000000
CY2023Q1 us-gaap Other Inventory Net Of Reserves
OtherInventoryNetOfReserves
53000000
CY2023Q1 us-gaap Goodwill
Goodwill
2075000000
CY2022Q4 us-gaap Goodwill
Goodwill
2075000000
CY2023Q1 us-gaap Intangible Assets Gross Excluding Goodwill
IntangibleAssetsGrossExcludingGoodwill
2202000000
CY2023Q1 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
1335000000
CY2023Q1 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
867000000
CY2022Q4 us-gaap Intangible Assets Gross Excluding Goodwill
IntangibleAssetsGrossExcludingGoodwill
2202000000
CY2022Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
1324000000
CY2022Q4 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
878000000
CY2023Q1 us-gaap Intangible Assets Net Including Goodwill
IntangibleAssetsNetIncludingGoodwill
2942000000
CY2022Q4 us-gaap Intangible Assets Net Including Goodwill
IntangibleAssetsNetIncludingGoodwill
2953000000
CY2023Q1 us-gaap Finite Lived Intangible Assets Amortization Expense Next Twelve Months
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9000000
CY2023Q1 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
5000000
CY2023Q1 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
2000000
CY2023Q1 us-gaap Finite Lived Intangible Assets Amortization Expense Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseYearFour
1000000
CY2023Q1 us-gaap Finite Lived Intangible Assets Amortization Expense Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseYearFive
1000000
CY2023Q1 alsn Fair Value Measurement Guidance And Hierarchy Levels Description
FairValueMeasurementGuidanceAndHierarchyLevelsDescription
Fair value is the price (exit price) that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. The Company utilizes market data or assumptions that market participants would use in pricing the asset or liability, including assumptions about risk and the risks inherent in the inputs to the valuation technique. These inputs can be readily observable, market corroborated, or generally unobservable. The accounting guidance establishes a fair value hierarchy that prioritizes the inputs used to measure fair value. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurement) and the lowest priority to unobservable inputs (Level 3 measurement). The three levels of the fair value hierarchy defined by the relevant guidance are as follows:Level 1 — Quoted prices are available in active markets for identical assets or liabilities as of the reporting date. Level 2 — Inputs are other than quoted prices in active markets included in Level 1, which are either directly or indirectly observable as of the reporting date. Level 2 includes financial instruments that are valued using quoted prices in markets that are not active and those financial instruments that are valued using models or other valuation methodologies in which all significant value-drivers are observable in active markets or are supported by observable levels at which transactions are executed in the marketplace.Level 3 — Certain inputs are unobservable or have little or no market data available. These inputs may be used with internally developed methodologies that result in management’s best estimate of fair value. At each balance sheet date, the Company performs an analysis of all instruments subject to authoritative accounting guidance and includes, in Level 3, all of those whose fair value is based on significant unobservable inputs. As of March 31, 2023 and December 31, 2022, the Company did not have any Level 3 financial assets or liabilities.
CY2023Q1 us-gaap Cash And Cash Equivalents Fair Value Disclosure
CashAndCashEquivalentsFairValueDisclosure
202000000
CY2022Q4 us-gaap Cash And Cash Equivalents Fair Value Disclosure
CashAndCashEquivalentsFairValueDisclosure
111000000
CY2023Q1 us-gaap Marketable Securities
MarketableSecurities
25000000
CY2022Q4 us-gaap Marketable Securities
MarketableSecurities
22000000
CY2023Q1 us-gaap Assets Held In Trust
AssetsHeldInTrust
17000000
CY2022Q4 us-gaap Assets Held In Trust
AssetsHeldInTrust
15000000
CY2023Q1 us-gaap Deferred Compensation Cashbased Arrangements Liability Current And Noncurrent
DeferredCompensationCashbasedArrangementsLiabilityCurrentAndNoncurrent
17000000
CY2022Q4 us-gaap Deferred Compensation Cashbased Arrangements Liability Current And Noncurrent
DeferredCompensationCashbasedArrangementsLiabilityCurrentAndNoncurrent
15000000
CY2023Q1 us-gaap Fair Value Net Asset Liability
FairValueNetAssetLiability
241000000
CY2022Q4 us-gaap Fair Value Net Asset Liability
FairValueNetAssetLiability
151000000
CY2023Q1 us-gaap Long Term Debt
LongTermDebt
2523000000
CY2022Q4 us-gaap Long Term Debt
LongTermDebt
2525000000
CY2023Q1 us-gaap Long Term Debt Current
LongTermDebtCurrent
6000000
CY2022Q4 us-gaap Long Term Debt Current
LongTermDebtCurrent
6000000
CY2023Q1 us-gaap Deferred Finance Costs Net
DeferredFinanceCostsNet
17000000
CY2022Q4 us-gaap Deferred Finance Costs Net
DeferredFinanceCostsNet
18000000
CY2023Q1 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
2500000000
CY2022Q4 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
2501000000
CY2023Q1 us-gaap Long Term Debt
LongTermDebt
2523000000
CY2023Q1 us-gaap Long Term Debt Fair Value
LongTermDebtFairValue
2341000000
CY2023Q1 us-gaap Derivative Description Of Terms
DerivativeDescriptionOfTerms
The Company is subject to interest rate risk related to the Senior Secured Credit Facility and entered into interest rate swaps that are based on LIBOR to manage a portion of this exposure. The interest rate swaps are designated as cash flow hedges that qualify for hedge accounting under the hypothetical derivative method. Fair value adjustments are recorded as a component of Accumulated other comprehensive loss, net of tax (“AOCL”) in the Condensed Consolidated Balance Sheets. Balances in AOCL are reclassified to earnings when transactions related to the underlying risk are settled. See "Note F. Fair Value of Financial Instruments” for information regarding the fair value of the Company’s interest rate swaps.
CY2023Q1 alsn Sunset Date Of Temporary Relief Period
SunsetDateOfTemporaryReliefPeriod
2024-12-31
CY2023Q1 us-gaap Interest Rate Cash Flow Hedge Gain Loss To Be Reclassified During Next12 Months Net
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9000000
CY2023Q1 us-gaap Product Warranty Accrual Classified Current
ProductWarrantyAccrualClassifiedCurrent
27000000
CY2023Q1 us-gaap Product Warranty Accrual Noncurrent
ProductWarrantyAccrualNoncurrent
32000000
CY2022Q1 us-gaap Product Warranty Accrual Classified Current
ProductWarrantyAccrualClassifiedCurrent
30000000
CY2022Q1 us-gaap Product Warranty Accrual Noncurrent
ProductWarrantyAccrualNoncurrent
23000000
CY2023Q1 us-gaap Short Term Lease Cost
ShortTermLeaseCost
0
CY2022Q1 us-gaap Short Term Lease Cost
ShortTermLeaseCost
0
CY2023Q1 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
1000000
CY2022Q4 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
57000000
CY2021Q4 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
53000000
CY2023Q1 us-gaap Product Warranty Accrual Payments
ProductWarrantyAccrualPayments
8000000
CY2022Q1 us-gaap Product Warranty Accrual Payments
ProductWarrantyAccrualPayments
7000000
CY2023Q1 us-gaap Product Warranty Accrual Warranties Issued
ProductWarrantyAccrualWarrantiesIssued
6000000
CY2022Q1 us-gaap Product Warranty Accrual Warranties Issued
ProductWarrantyAccrualWarrantiesIssued
4000000
CY2023Q1 us-gaap Product Warranty Accrual Preexisting Increase Decrease
ProductWarrantyAccrualPreexistingIncreaseDecrease
4000000
CY2022Q1 us-gaap Product Warranty Accrual Preexisting Increase Decrease
ProductWarrantyAccrualPreexistingIncreaseDecrease
3000000
CY2023Q1 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
59000000
CY2022Q1 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
53000000
CY2023Q1 us-gaap Contract With Customer Liability Current
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45000000
CY2023Q1 us-gaap Contract With Customer Liability Noncurrent
ContractWithCustomerLiabilityNoncurrent
94000000
CY2022Q1 us-gaap Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
35000000
CY2022Q1 us-gaap Contract With Customer Liability Noncurrent
ContractWithCustomerLiabilityNoncurrent
97000000
CY2022Q4 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
131000000
CY2021Q4 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
136000000
CY2023Q1 alsn Contract With Customer Liability Increase
ContractWithCustomerLiabilityIncrease
17000000
CY2022Q1 alsn Contract With Customer Liability Increase
ContractWithCustomerLiabilityIncrease
7000000
CY2023Q1 us-gaap Contract With Customer Liability Revenue Recognized
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9000000
CY2022Q1 us-gaap Contract With Customer Liability Revenue Recognized
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11000000
CY2023Q1 us-gaap Contract With Customer Liability
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139000000
CY2022Q1 us-gaap Contract With Customer Liability
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132000000
CY2022Q1 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
0
CY2023Q1 alsn Lessee Lease Description
LesseeLeaseDescription
Contracts are assessed by the Company to determine if the contract conveys the right to control an identified asset in exchange for consideration during a period of time. The Company classifies all identified leases as either operating or finance leases. As of March 31, 2023, the Company was not a party to any finance leases. Contracts that contain leases are assessed to determine if the consideration in the contract is related to a lease component, non-lease component or other components not related to the lease. Lease components are recorded as right-of-use (“ROU”) assets and lease liabilities while any non-lease component is expensed as incurred. The consideration in the contract related to other components not related to the lease is allocated among the lease component and the non-lease component, as applicable, based on the stand-alone selling price of the lease and non-lease components.
CY2023Q1 us-gaap Lessee Operating Lease Discount Rate
LesseeOperatingLeaseDiscountRate
0.0453
CY2022Q4 us-gaap Lessee Operating Lease Discount Rate
LesseeOperatingLeaseDiscountRate
0.0443
CY2023Q1 us-gaap Operating Lease Liability Current
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4000000
CY2023Q1 us-gaap Operating Lease Liability Noncurrent
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12000000
CY2022Q4 us-gaap Operating Lease Liability Current
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4000000
CY2022Q4 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
13000000
CY2023Q1 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
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5000000
CY2023Q1 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
3000000
CY2023Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
3000000
CY2023Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
2000000
CY2023Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
2000000
CY2023Q1 alsn Lessee Operating Lease Liability Payments Thereafter
LesseeOperatingLeaseLiabilityPaymentsThereafter
4000000
CY2023Q1 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
19000000
CY2023Q1 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
3000000
CY2023Q1 us-gaap Operating Lease Liability
OperatingLeaseLiability
16000000
CY2023Q1 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
17000000
CY2022Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
17000000
CY2023Q1 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P6Y1M6D
CY2022Q1 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P6Y9M18D
CY2023Q1 us-gaap Operating Lease Expense
OperatingLeaseExpense
1000000
CY2022Q1 us-gaap Operating Lease Expense
OperatingLeaseExpense
1000000
CY2023Q1 us-gaap Taxes Payable Current
TaxesPayableCurrent
80000000
CY2022Q4 us-gaap Taxes Payable Current
TaxesPayableCurrent
31000000
CY2023Q1 alsn Sales Incentives
SalesIncentives
41000000
CY2022Q4 alsn Sales Incentives
SalesIncentives
42000000
CY2023Q1 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
35000000
CY2022Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
72000000
CY2023Q1 us-gaap Interest Payable Current
InterestPayableCurrent
27000000
CY2022Q4 us-gaap Interest Payable Current
InterestPayableCurrent
24000000
CY2023Q1 alsn Vendor Buyback Obligation
VendorBuybackObligation
17000000
CY2022Q4 alsn Vendor Buyback Obligation
VendorBuybackObligation
16000000
CY2023Q1 us-gaap Pension And Other Postretirement And Postemployment Benefit Plans Liabilities Current
PensionAndOtherPostretirementAndPostemploymentBenefitPlansLiabilitiesCurrent
4000000
CY2022Q4 us-gaap Pension And Other Postretirement And Postemployment Benefit Plans Liabilities Current
PensionAndOtherPostretirementAndPostemploymentBenefitPlansLiabilitiesCurrent
4000000
CY2023Q1 us-gaap Construction Payable Current
ConstructionPayableCurrent
4000000
CY2022Q4 us-gaap Construction Payable Current
ConstructionPayableCurrent
4000000
CY2023Q1 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
4000000
CY2022Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
4000000
CY2023Q1 us-gaap Other Sundry Liabilities Current
OtherSundryLiabilitiesCurrent
15000000
CY2022Q4 us-gaap Other Sundry Liabilities Current
OtherSundryLiabilitiesCurrent
11000000
CY2023Q1 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
227000000
CY2022Q4 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
208000000
CY2023Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
42000000
CY2022Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
34000000
CY2023Q1 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.20
CY2022Q1 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.21
CY2023Q1 us-gaap Valuation Allowance Methodologies And Assumptions
ValuationAllowanceMethodologiesAndAssumptions
The need to establish a valuation allowance against the deferred tax assets is assessed periodically based on a more-likely-than-not realization threshold, in accordance with authoritative accounting guidance. Appropriate consideration is given to all positive and negative evidence related to that realization. This assessment considers, among other matters, the nature, frequency and severity of recent losses, forecasts of future profitability, the duration of statutory carry-forward periods, experience with tax attributes expiring unused, and tax planning alternatives. The weight given to these considerations depends upon the degree to which they can be objectively verified.
CY2023Q1 us-gaap Net Income Loss
NetIncomeLoss
170000000
CY2022Q1 us-gaap Net Income Loss
NetIncomeLoss
129000000
CY2023Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
92000000
CY2022Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
98000000
CY2023Q1 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
0
CY2022Q1 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
1000000
CY2023Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
92000000
CY2022Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
99000000
CY2023Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
1.85
CY2022Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
1.32
CY2023Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
1.85
CY2022Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
1.30
CY2023Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
1000000
CY2022Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
1000000

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