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10-Q Filing

ADIENT PLC CIK: 1670541 Q1 2020
Filing Information
Form Type 10-Q
Accession Number 0001670541-20-000004
Period End Date 20191231
Filing Date 20200207
Fiscal Year 2020
Fiscal Period Q1
XBRL Instance adnt-20191231_htm.xml
Filing Contents
Balance Sheet 78 line items
Line Item Tag Value Unit Period
Preferred stock, par value (in dollars per share) PreferredStockParOrStatedValuePerShare $0.00 USD Point-in-time
Cash and cash equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $924.00M USD Point-in-time
Cash and cash equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $406.00M USD Point-in-time
Cash and cash equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $965.00M USD Point-in-time
Preferred stock, shares authorized (in shares) PreferredStockSharesAuthorized 100.00M shares Point-in-time
Cash and cash equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $687.00M USD Point-in-time
Accounts receivable - net AccountsAndOtherReceivablesNetCurrent $1.91B USD Point-in-time
Accounts receivable - net AccountsAndOtherReceivablesNetCurrent $1.52B USD Point-in-time
Preferred stock, shares issued (in shares) PreferredStockSharesIssued 0.00 shares Point-in-time
Preferred stock, shares outstanding (in shares) PreferredStockSharesOutstanding 0.00 shares Point-in-time
Inventories InventoryNet $793.00M USD Point-in-time
Inventories InventoryNet $772.00M USD Point-in-time
Other current assets OtherAssetsCurrent $494.00M USD Point-in-time
Other current assets OtherAssetsCurrent $540.00M USD Point-in-time
Common stock, par value (in dollars per share) CommonStockParOrStatedValuePerShare $0.00 USD Point-in-time
Common stock, shares authorized (in shares) CommonStockSharesAuthorized 500.00M shares Point-in-time
Current assets AssetsCurrent $4.12B USD Point-in-time
Current assets AssetsCurrent $3.80B USD Point-in-time
Common stock, shares issued (in shares) CommonStockSharesIssued 93.79M shares Point-in-time
Property, plant and equipment - net PropertyPlantAndEquipmentNet $1.67B USD Point-in-time
Property, plant and equipment - net PropertyPlantAndEquipmentNet $1.69B USD Point-in-time
Goodwill Goodwill $2.16B USD Point-in-time
Goodwill Goodwill $2.15B USD Point-in-time
Common stock, shares outstanding (in shares) CommonStockSharesOutstanding 93.79M shares Point-in-time
Other intangible assets - net IntangibleAssetsNetExcludingGoodwill $405.00M USD Point-in-time
Other intangible assets - net IntangibleAssetsNetExcludingGoodwill $395.00M USD Point-in-time
Investments in partially-owned affiliates InvestmentsInAffiliatesSubsidiariesAssociatesAndJointVentures $1.40B USD Point-in-time
Investments in partially-owned affiliates InvestmentsInAffiliatesSubsidiariesAssociatesAndJointVentures $1.32B USD Point-in-time
Other noncurrent assets OtherAssetsNoncurrent $601.00M USD Point-in-time
Other noncurrent assets OtherAssetsNoncurrent $1.00B USD Point-in-time
Total assets Assets $10.36B USD Point-in-time
Total assets Assets $10.34B USD Point-in-time
Short-term debt ShortTermBorrowings $6.00M USD Point-in-time
Short-term debt ShortTermBorrowings $22.00M USD Point-in-time
Current portion of long-term debt LongTermDebtAndCapitalLeaseObligationsCurrent $8.00M USD Point-in-time
Current portion of long-term debt LongTermDebtAndCapitalLeaseObligationsCurrent $8.00M USD Point-in-time
Accounts payable AccountsPayableCurrent $2.71B USD Point-in-time
Accounts payable AccountsPayableCurrent $2.51B USD Point-in-time
Accrued compensation and benefits EmployeeRelatedLiabilitiesCurrent $364.00M USD Point-in-time
Accrued compensation and benefits EmployeeRelatedLiabilitiesCurrent $305.00M USD Point-in-time
Restructuring reserve RestructuringReserve $123.00M USD Point-in-time
Restructuring reserve RestructuringReserve $109.00M USD Point-in-time
Other Liabilities, Current OtherLiabilitiesCurrent $609.00M USD Point-in-time
Other Liabilities, Current OtherLiabilitiesCurrent $744.00M USD Point-in-time
Current liabilities LiabilitiesCurrent $3.83B USD Point-in-time
Current liabilities LiabilitiesCurrent $3.68B USD Point-in-time
Long-term debt LongTermDebtAndCapitalLeaseObligations $3.71B USD Point-in-time
Long-term debt LongTermDebtAndCapitalLeaseObligations $3.74B USD Point-in-time
Pension and postretirement benefits PensionAndOtherPostretirementDefinedBenefitPlansLiabilitiesNoncurrent $151.00M USD Point-in-time
Pension and postretirement benefits PensionAndOtherPostretirementDefinedBenefitPlansLiabilitiesNoncurrent $146.00M USD Point-in-time
Other noncurrent liabilities OtherLiabilitiesNoncurrent $673.00M USD Point-in-time
Other noncurrent liabilities OtherLiabilitiesNoncurrent $408.00M USD Point-in-time
Long-term liabilities LiabilitiesNoncurrent $4.56B USD Point-in-time
Long-term liabilities LiabilitiesNoncurrent $4.27B USD Point-in-time
Commitments and Contingencies (Note 17) CommitmentsAndContingencies - USD Point-in-time
Commitments and Contingencies (Note 17) CommitmentsAndContingencies - USD Point-in-time
Redeemable noncontrolling interests RedeemableNoncontrollingInterestEquityOtherCarryingAmount $38.00M USD Point-in-time
Redeemable noncontrolling interests RedeemableNoncontrollingInterestEquityOtherCarryingAmount $51.00M USD Point-in-time
Preferred shares issued, par value $0.001; 100,000,000 shares authorized, Zero shares issued and outstanding at December 31, 2019 PreferredStockValue - USD Point-in-time
Preferred shares issued, par value $0.001; 100,000,000 shares authorized, Zero shares issued and outstanding at December 31, 2019 PreferredStockValue - USD Point-in-time
Ordinary shares issued, par value $0.001; 500,000,000 shares authorized, 93,793,433 shares issued and outstanding at December 31, 2019 CommonStockValue - USD Point-in-time
Ordinary shares issued, par value $0.001; 500,000,000 shares authorized, 93,793,433 shares issued and outstanding at December 31, 2019 CommonStockValue - USD Point-in-time
Additional paid-in capital AdditionalPaidInCapital $3.96B USD Point-in-time
Additional paid-in capital AdditionalPaidInCapital $3.96B USD Point-in-time
Accumulated deficit RetainedEarningsAccumulatedDeficit $-1.72B USD Point-in-time
Accumulated deficit RetainedEarningsAccumulatedDeficit $-1.54B USD Point-in-time
Accumulated other comprehensive income (loss) AccumulatedOtherComprehensiveIncomeLossNetOfTax $-569.00M USD Point-in-time
Accumulated other comprehensive income (loss) AccumulatedOtherComprehensiveIncomeLossNetOfTax $-504.00M USD Point-in-time
Shareholders' equity attributable to Adient StockholdersEquity $1.74B USD Point-in-time
Shareholders' equity attributable to Adient StockholdersEquity $1.85B USD Point-in-time
Noncontrolling interests MinorityInterest $341.00M USD Point-in-time
Noncontrolling interests MinorityInterest $341.00M USD Point-in-time
Total shareholders' equity StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $2.08B USD Point-in-time
Total shareholders' equity StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $2.19B USD Point-in-time
Total shareholders' equity StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $2.72B USD Point-in-time
Total shareholders' equity StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $2.72B USD Point-in-time
Total liabilities and shareholders' equity LiabilitiesAndStockholdersEquity $10.34B USD Point-in-time
Total liabilities and shareholders' equity LiabilitiesAndStockholdersEquity $10.36B USD Point-in-time
Income Statement 38 line items
Line Item Tag Value Unit Period
Net sales RevenueFromContractWithCustomerExcludingAssessedTax $3.94B USD 1 Quarter
Net sales RevenueFromContractWithCustomerExcludingAssessedTax $4.16B USD 1 Quarter
Cost of sales CostOfRevenue $3.67B USD 1 Quarter
Cost of sales CostOfRevenue $3.98B USD 1 Quarter
Gross profit GrossProfit $263.00M USD 1 Quarter
Gross profit GrossProfit $180.00M USD 1 Quarter
Selling, general and administrative expenses SellingGeneralAndAdministrativeExpense $178.00M USD 1 Quarter
Selling, general and administrative expenses SellingGeneralAndAdministrativeExpense $165.00M USD 1 Quarter
Loss (gain) on divestitures - net GainLossOnSaleOfBusiness - USD 1 Quarter
Loss (gain) on divestitures - net GainLossOnSaleOfBusiness $-25.00M USD 1 Quarter
Restructuring and impairment costs RestructuringCostsAndAssetImpairmentCharges $31.00M USD 1 Quarter
Restructuring and impairment costs RestructuringCostsAndAssetImpairmentCharges $2.00M USD 1 Quarter
Equity income (loss) IncomeLossFromEquityMethodInvestments $-113.00M USD 1 Quarter
Equity income (loss) IncomeLossFromEquityMethodInvestments $83.00M USD 1 Quarter
Earnings (loss) before interest and income taxes IncomeLossFromContinuingOperationsBeforeInterestExpenseInterestIncomeIncomeTaxesExtraordinaryItemsNoncontrollingInterestsNet $54.00M USD 1 Quarter
Earnings (loss) before interest and income taxes IncomeLossFromContinuingOperationsBeforeInterestExpenseInterestIncomeIncomeTaxesExtraordinaryItemsNoncontrollingInterestsNet $-42.00M USD 1 Quarter
Net financing charges InterestIncomeExpenseNet $-48.00M USD 1 Quarter
Net financing charges InterestIncomeExpenseNet $-35.00M USD 1 Quarter
Other pension expense (income) PensionExpense $-2.00M USD 1 Quarter
Other pension expense (income) PensionExpense $-2.00M USD 1 Quarter
Income (loss) before income taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest $21.00M USD 1 Quarter
Income (loss) before income taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest $-88.00M USD 1 Quarter
Income tax provision (benefit) IncomeTaxExpenseBenefit $54.00M USD 1 Quarter
Income tax provision (benefit) IncomeTaxExpenseBenefit $10.00M USD 1 Quarter
Net income (loss) ProfitLoss $11.00M USD 1 Quarter
Net income (loss) ProfitLoss $-142.00M USD 1 Quarter
Income (loss) attributable to noncontrolling interests NetIncomeLossAttributableToNoncontrollingInterest $28.00M USD 1 Quarter
Income (loss) attributable to noncontrolling interests NetIncomeLossAttributableToNoncontrollingInterest $25.00M USD 1 Quarter
Net income (loss) attributable to Adient NetIncomeLoss $-17.00M USD 1 Quarter
Net income (loss) attributable to Adient NetIncomeLoss $-167.00M USD 1 Quarter
Earnings per share, basic (in dollars per share) EarningsPerShareBasic $-0.18 USD 1 Quarter
Earnings per share, basic (in dollars per share) EarningsPerShareBasic $-1.78 USD 1 Quarter
Earnings per share, diluted (in dollars per share) EarningsPerShareDiluted $-1.78 USD 1 Quarter
Earnings per share, diluted (in dollars per share) EarningsPerShareDiluted $-0.18 USD 1 Quarter
Shares used in computing earnings per share, basic (in shares) WeightedAverageNumberOfSharesOutstandingBasic 93.70M shares 1 Quarter
Shares used in computing earnings per share, basic (in shares) WeightedAverageNumberOfSharesOutstandingBasic 93.50M shares 1 Quarter
Shares used in computing earnings per share, diluted (in shares) WeightedAverageNumberOfDilutedSharesOutstanding 93.70M shares 1 Quarter
Shares used in computing earnings per share, diluted (in shares) WeightedAverageNumberOfDilutedSharesOutstanding 93.50M shares 1 Quarter
Cash Flow Statement 80 line items
Line Item Tag Value Unit Period
Purchase accounting amortization FiniteLivedIntangibleAssetsPurchaseAccountingAdjustments - USD 1 Quarter
Purchase accounting amortization FiniteLivedIntangibleAssetsPurchaseAccountingAdjustments $1.00M USD 1 Quarter
Net income (loss) attributable to Adient NetIncomeLoss $-17.00M USD 1 Quarter
Net income (loss) attributable to Adient NetIncomeLoss $-167.00M USD 1 Quarter
Income attributable to noncontrolling interests NetIncomeLossAttributableToNoncontrollingInterest $28.00M USD 1 Quarter
Income attributable to noncontrolling interests NetIncomeLossAttributableToNoncontrollingInterest $25.00M USD 1 Quarter
Net income (loss) ProfitLoss $11.00M USD 1 Quarter
Net income (loss) ProfitLoss $-142.00M USD 1 Quarter
Depreciation Depreciation $65.00M USD 1 Quarter
Depreciation Depreciation $75.00M USD 1 Quarter
Amortization of intangibles AmortizationOfIntangibleAssets $9.00M USD 1 Quarter
Amortization of intangibles AmortizationOfIntangibleAssets $10.00M USD 1 Quarter
Pension and postretirement benefit expense (benefit) PensionAndOtherPostretirementBenefitExpense - USD 1 Quarter
Pension and postretirement benefit expense (benefit) PensionAndOtherPostretirementBenefitExpense $1.00M USD 1 Quarter
Pension and postretirement contributions, net IncreasedecreasePensionOPEB $6.00M USD 1 Quarter
Pension and postretirement contributions, net IncreasedecreasePensionOPEB $4.00M USD 1 Quarter
Equity in earnings of partially-owned affiliates, net of dividends received (includes purchase accounting amortization of $1, and $0, respectively) IncomeLossFromEquityMethodInvestmentsNetOfDividendsOrDistributions $82.00M USD 1 Quarter
Equity in earnings of partially-owned affiliates, net of dividends received (includes purchase accounting amortization of $1, and $0, respectively) IncomeLossFromEquityMethodInvestmentsNetOfDividendsOrDistributions $102.00M USD 1 Quarter
Equity Method Investment, Other than Temporary Impairment EquityMethodInvestmentOtherThanTemporaryImpairment $216.00M USD 1 Quarter
Equity Method Investment, Other than Temporary Impairment EquityMethodInvestmentOtherThanTemporaryImpairment - USD 1 Quarter
Deferred income taxes DeferredIncomeTaxesAndTaxCredits $-2.00M USD 1 Quarter
Deferred income taxes DeferredIncomeTaxesAndTaxCredits $-5.00M USD 1 Quarter
Loss (gain) on divestitures - net GainLossOnSaleOfBusiness - USD 1 Quarter
Loss (gain) on divestitures - net GainLossOnSaleOfBusiness $-25.00M USD 1 Quarter
Equity-based compensation ShareBasedCompensation $4.00M USD 1 Quarter
Equity-based compensation ShareBasedCompensation $6.00M USD 1 Quarter
Other OtherNoncashIncomeExpense $-7.00M USD 1 Quarter
Other OtherNoncashIncomeExpense $-3.00M USD 1 Quarter
Receivables IncreaseDecreaseInAccountsReceivable $-395.00M USD 1 Quarter
Receivables IncreaseDecreaseInAccountsReceivable $-320.00M USD 1 Quarter
Inventories IncreaseDecreaseInInventories $-23.00M USD 1 Quarter
Inventories IncreaseDecreaseInInventories $19.00M USD 1 Quarter
Other assets IncreaseDecreaseInOtherOperatingAssets $-35.00M USD 1 Quarter
Other assets IncreaseDecreaseInOtherOperatingAssets $2.00M USD 1 Quarter
Increase (Decrease) in Restructuring Reserve IncreaseDecreaseInRestructuringReserve $-14.00M USD 1 Quarter
Increase (Decrease) in Restructuring Reserve IncreaseDecreaseInRestructuringReserve $-18.00M USD 1 Quarter
Accounts payable and accrued liabilities IncreaseDecreaseInAccountsPayableAndAccruedLiabilities $-267.00M USD 1 Quarter
Accounts payable and accrued liabilities IncreaseDecreaseInAccountsPayableAndAccruedLiabilities $-451.00M USD 1 Quarter
Accrued income taxes IncreaseDecreaseInAccruedTaxesPayable $29.00M USD 1 Quarter
Accrued income taxes IncreaseDecreaseInAccruedTaxesPayable $-9.00M USD 1 Quarter
Cash provided (used) by operating activities NetCashProvidedByUsedInOperatingActivities $239.00M USD 1 Quarter
Cash provided (used) by operating activities NetCashProvidedByUsedInOperatingActivities $-128.00M USD 1 Quarter
Capital expenditures PaymentsToAcquireProductiveAssets $144.00M USD 1 Quarter
Capital expenditures PaymentsToAcquireProductiveAssets $91.00M USD 1 Quarter
Sale of property, plant and equipment ProceedsFromSaleOfPropertyPlantAndEquipment $37.00M USD 1 Quarter
Sale of property, plant and equipment ProceedsFromSaleOfPropertyPlantAndEquipment - USD 1 Quarter
Changes in long-term investments PaymentsForProceedsFromBusinessesAndInterestInAffiliates $37.00M USD 1 Quarter
Changes in long-term investments PaymentsForProceedsFromBusinessesAndInterestInAffiliates - USD 1 Quarter
Loans to affiliates PaymentsForAdvanceToAffiliate $11.00M USD 1 Quarter
Loans to affiliates PaymentsForAdvanceToAffiliate - USD 1 Quarter
Cash provided (used) by investing activities NetCashProvidedByUsedInInvestingActivities $-128.00M USD 1 Quarter
Cash provided (used) by investing activities NetCashProvidedByUsedInInvestingActivities $-118.00M USD 1 Quarter
Increase (decrease) in short-term debt ProceedsFromRepaymentsOfShortTermDebt $-17.00M USD 1 Quarter
Increase (decrease) in short-term debt ProceedsFromRepaymentsOfShortTermDebt $2.00M USD 1 Quarter
Repayment of long-term debt RepaymentsOfLongTermDebt $2.00M USD 1 Quarter
Repayment of long-term debt RepaymentsOfLongTermDebt - USD 1 Quarter
Debt financing costs PaymentsOfFinancingCosts - USD 1 Quarter
Debt financing costs PaymentsOfFinancingCosts $4.00M USD 1 Quarter
Cash dividends PaymentsOfDividendsCommonStock - USD 1 Quarter
Cash dividends PaymentsOfDividendsCommonStock $26.00M USD 1 Quarter
Dividends paid to noncontrolling interests PaymentsOfDividendsMinorityInterest $36.00M USD 1 Quarter
Dividends paid to noncontrolling interests PaymentsOfDividendsMinorityInterest $54.00M USD 1 Quarter
Formation of consolidated joint venture ProceedsFromContributionsFromAffiliates - USD 1 Quarter
Formation of consolidated joint venture ProceedsFromContributionsFromAffiliates $28.00M USD 1 Quarter
Other ProceedsFromPaymentsForOtherFinancingActivities $-2.00M USD 1 Quarter
Other ProceedsFromPaymentsForOtherFinancingActivities $-1.00M USD 1 Quarter
Cash provided (used) by financing activities NetCashProvidedByUsedInFinancingActivities $-38.00M USD 1 Quarter
Cash provided (used) by financing activities NetCashProvidedByUsedInFinancingActivities $-74.00M USD 1 Quarter
Effect of exchange rate changes on cash and cash equivalents EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $3.00M USD 1 Quarter
Effect of exchange rate changes on cash and cash equivalents EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $4.00M USD 1 Quarter
Increase (decrease) in cash and cash equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect $-281.00M USD 1 Quarter
Increase (decrease) in cash and cash equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect $41.00M USD 1 Quarter
Cash and cash equivalents at beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $924.00M USD Point-in-time
Cash and cash equivalents at beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $406.00M USD Point-in-time
Cash and cash equivalents at beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $965.00M USD Point-in-time
Cash and cash equivalents at beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $687.00M USD Point-in-time
Cash and cash equivalents at end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $924.00M USD Point-in-time
Cash and cash equivalents at end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $406.00M USD Point-in-time
Cash and cash equivalents at end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $965.00M USD Point-in-time
Cash and cash equivalents at end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $687.00M USD Point-in-time
Comprehensive Income 14 line items
Line Item Tag Value Unit Period
Net income (loss) ProfitLoss $11.00M USD 1 Quarter
Net income (loss) ProfitLoss $-142.00M USD 1 Quarter
Foreign currency translation adjustments OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax $16.00M USD 1 Quarter
Foreign currency translation adjustments OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax $59.00M USD 1 Quarter
Realized and unrealized gains (losses) on derivatives OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesNetOfTax $-3.00M USD 1 Quarter
Realized and unrealized gains (losses) on derivatives OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationAndTaxParent $15.00M USD 1 Quarter
Other comprehensive income (loss) OtherComprehensiveIncomeLossNetOfTax $74.00M USD 1 Quarter
Other comprehensive income (loss) OtherComprehensiveIncomeLossNetOfTax $13.00M USD 1 Quarter
Total comprehensive income (loss) ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest $-68.00M USD 1 Quarter
Total comprehensive income (loss) ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest $24.00M USD 1 Quarter
Comprehensive income (loss) attributable to noncontrolling interests ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest $28.00M USD 1 Quarter
Comprehensive income (loss) attributable to noncontrolling interests ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest $34.00M USD 1 Quarter
Comprehensive income (loss) attributable to Adient ComprehensiveIncomeNetOfTax $-102.00M USD 1 Quarter
Comprehensive income (loss) attributable to Adient ComprehensiveIncomeNetOfTax $-4.00M USD 1 Quarter

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.

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