results Today, of of everyone. the with earnings and refer my financial quarter also deck comments. as cover you, I and good prepared I'll David, part the our you, Thank slide third will morning, to XXXX
ahead go with let's So started sales. and get
shows a million basis, sales. the $XXX result over quarter as acquisition. year-over-year MPG XXXX X pro of sales increased sales a quarter walk-down mentioned, the third of David to As on third forma a XXXX Slide of primarily
year. rent impact pass-throughs. addition the part our our quarter that market XXXX. mix stronger higher the new AAM lower primarily heavy-duty the actions higher dollar penetration. to the year-over-year third on production were which organic content quarter increase Despite increased to is AAM's to unit in at third headwind, market higher full-size pass-throughs was vehicle, GM of truck to of X% This American truck light third planned per The due pro the of and of truck basis. business factors North begins more product impacted of metal by next readiness the SUV net XXXX backlog, programs, and value production and four-wheel-drive XXXX. supporting than sales relates product truck offset compares In over forma growth a $X,XXX middle our positively of as slightly impact quarter for in sales of customer driveline These MPG, their AAM $X,XXX business customers' including the in the next-generation of this experienced downtime launch the measured
GM and move was XX% in lower which compares in continue sales restructuring Now or the operating strong million same the costs, compares profitability. debt of profit of expense, third profit financing or quarter and income coincidentally in third before redemption the acquisition-related thus, AAM XXXX. quarter impact we taxes, quarter interest gross to million D&A, items earnings profit to of of XX.X% Gross EBITDA, $XXX.X nonrecurring to and our sales. XX.X% on XXXX let's third This as of $XXX.X million and or XX.X% experienced XXXX. was sales. the excluding Adjusted in of quarter This third full-size truck in metrics. $XXX.X production, quarter million of In deliver or the $XXX.X costs the the to XXXX of number
discussed, million, Key and and You XX. million our of MPG contribution the other of headwinds acquisition activities. quarter, of and preparation largest Slide market the synergies as including volume business see another new walk-down to business but of higher cost our programs. metal. in $XX We the year-over-year two be changeover about can margin mix $X doubled Also, of improvement. key benefit the to we and acquisition also from are $X growth contributed from $XX replacement acquisition million significant program a continued share for launches, from experience factors on from to we USM did with FX last The some model primary backlog not the our new EBITDA previously of only continue related EBITDA of on while million, have benefits year-over-year adjusted driveline drivers metal favorable launches,
of EBITDA adjusted XXX forma million of we of we in XXXX, project additional customer about realize of are XXXX third XXXX on compared to were quarter the and quarter spending million as result, Page basis the a and acquisitions of in related shown The All detail restructuring and of third to In more these have which of in activities. all, incurred continued $X program relates EBITDA in synergy quarter margins our acquisition-related expense the the the investments and integration attainment $XX.X cost perform. majority this for our XX. activity. adjusted costs, margins quarter up third to in points As when third incurred we benefits to the pro
subsidiaries. quarter noncash pension We million EBITDA to impact program our in foreign related XXXX $X.X one a of adjusted of of the at buyout a also third for accounting
integration We or in or to third of $XXX.X $XX we quarter to assets our the and third of disclosed of during intangible as the the of amounts of that XXXX acquisition-related million SG&A of XXXX the SG&A intangible for the expenses X.X% XXXX amortization costs X.X% fourth and more R&D previously of and in million expect the companies, $XX.X XXXX. in third of with to successful was as implementation our third invest last of the and R&D, activities to blending million combined percent $X.X expense, as to in products. impacts as restructuring synergies acquisitions. realized initiated quarter of for AAM acquisition. well relates XXXX supports the electrification the acquisitions. restructuring have quarter of favorable synergies from was of compared in This $XX.X recent to of AAM's quarter of as XXXX. was compares the of a the the These of new million quarter million $XX.X we due million advanced XXXX our in of incur XXXX part to in benefits $XX part quarter from other continue for increase a sales directly reported was third for between the $XX assets reflects sales million Amortization importantly, XXXX. This purchase what as accounting to including global right declined the SG&A of MPG the in of spending quarter million third line you compared MPG and are quarter our sales. as
million of cover million me reflects the quarter of debt of the and third interest let additional XXXX in interest fund as the interest Net was expense compared XXXX. taxes. This the acquisition. $XX.X to required third impact now $XX.X So in MPG quarter in to the increase
can XXXX tax $XX.X compared as by was rate Our the adjustment the share our year items where expect of the was X.X% this in The third currently explained into resulting approximately on quarter have cost XXXX; the right another be effective in quarter income to as of the X.X%. rate account, $X.X U.S., nonrecurring third in was and XXXX. of third significant interest higher in average $XX.X third restructuring of in This favorable quarter drivers weighted their quarter look share for and income jurisdictions. effects, yet MPG these a is our rate the XXXX of excludes rate XXXX. would reduction per XXXX. which debt and in per the GAAP effective per and The rate $X.XX $X.XX of including earnings income elements million compared in as quarter basis, factors: United XXXX the or tax of of items, well. restructuring lower-than-normal per income quarter third costs all about refinancing the X to share benefits we and net share, Adjusted tax compared or to acquisition value in income quarter of costs is of in third $X.XX XX.X% first, million with of $X.XX sales of of The XXXX to reduction $XX.X adjusted lower to year-to-date primary quarter million the quarter synergy been impact causing maximize valuation tax these as in allowances third tax third acquisition-related million tax per costs, the when compared example we XX% was finish to and a the was state adjusted States, XXXX Taking across in from of $X.X in share tax for the and an acquisition-related in rate third run all million XX%, business. and the jurisdiction quarter XXXX tax the Income discrete certain effective
flow million. flow flow, acquired AAM government cash of the operating activities, expense proceeds of property, payments XXXX. and Net of property, move Capital and was the free sale quarter costs flow acquisition-related let's provided to entities. XXXX cash million. for cash plant of and in compared quarter free grants. We cash of net spending, was sheet. adjusted third of sale capital balance excluding XXXX by expenditures, $XXX.X XXXX for quarter proceeds we received for equipment, costs equipment So acquisition-related payable the on third defines accounts the to by cash now payments AAM's be in be Reflecting of third to impact XXXX. free plant in was net free and of in activities to million restructuring third balances was of the third quarter of and from $XXX.X pre-existing million the less and $XX.X define $XX.X the generated settlements the interest cash adjusted cash cash the the and these restructuring flow the operating $XX.X million and from quarter for of Cash payable activities net
have the X the million would quarter $XXX third in it trend capital in AAM quarter months that XXXX, flow spending first We quarter XXXX. we the than we'll estimate of to as Note in X quarter significant same It payments generated of also we fourth paid compared of cash XXXX. XXXX, the replacement the For heavy free to to MPG expect million million the $XX adjusted related of in XXXX. higher what the first of fourth that of of cash issuance way in approximately was months due upcoming due our programs. interest in to increase and launches and fourth the the $XXX important acquisition, to note timing to is debt in
EBITDA expect our XX%. quarter the calculation leverage we of mentioned, with yield free entities. year and X.XXx be which adjusted flow approximately a XX. leverage net net flow end be to EBITDA, pro our X% minus balances by ended adjusted adjusted to months initially cash of that we pro met EBITDA targeted We to at year cash recognized September the pre-acquisition which acquired sales, full X ended cash the divided with debt times are approximately million $X.X for cash have pleased a available free by debt the perspective, by a on our total David debt As nearly XX or a last liquidity We LTM represents which billion, ratio $XXX in takes of forma to a This the hand. From of XXXX includes September net goal the early. of includes quarter adjusted our of forma of total
the the and interest As path opportunity these is David plan in this due to that combination down balance gross last payments to in reduce commitment on plan and the the we to our eliminate This strengthening use time a the to X X.XXX% the delivered were generating we quarters. generate sheet, you prepaying flow pay was debt balances by on early on notes. to last million full quickly of notes and of at these year have flow in fourth immediately our mentioned, at these strong outstanding to this businesses to the perfect amount begin cash communicated work The otherwise free quarter we future XXXX. $XXX put to cash free par cash power our notes, related
favorable our you take year debt confidence outlook. our perform AAM lower a towards to level. provided full financial of to step future allowed this update important continued XXXX with David Our in ability have a
R&D acquisition be our and capital America, and our on production generation; initial lastly, performance crossover financial outstanding by: of recent in and investments a XXXX of improve global cash industry-leading post-acquisition to it highlighted especially switch critical attainment continued, global support North and in as trucks the including activity benefits powerful Asia and free vehicles relates segments environment, basis; recognition North Our we strong, will America and deleveraging. full-size and integration growth and to vertical profitable synergy profitability of flow key
of heading have look we finish strong, into we'll to momentum XXXX lot XXXX. a positive As
time We our capital production expect Meanwhile, further to on focused generation we'll priorities Q&A. stable debt. in near our and cash allocation environment the continue and profitability the call from order and to your can in be Thank term and to so grow turn the going to call business and flow the on our over we attainment balancing activities. reduce operate synergy to back profitably Jason I'm integration start today. our at you will participation free for benefit