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10-Q Filing

ADIENT PLC CIK: 1670541 Q1 2024
Filing Information
Form Type 10-Q
Accession Number 0001670541-24-000030
Period End Date 20231231
Filing Date 20240207
Fiscal Year 2024
Fiscal Period Q1
XBRL Instance adnt-20231231_htm.xml
Filing Contents
Balance Sheet 80 line items
Line Item Tag Value Unit Period
Preferred stock, par value (in usd per share) PreferredStockParOrStatedValuePerShare $0.00 USD Point-in-time
Cash and cash equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $990.00M USD Point-in-time
Cash and cash equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $947.00M USD Point-in-time
Cash and cash equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $1.11B USD Point-in-time
Cash and cash equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $901.00M USD Point-in-time
Preferred stock, shares authorized (in shares) PreferredStockSharesAuthorized 100.00M shares Point-in-time
Accounts receivable - net AccountsAndOtherReceivablesNetCurrent $1.66B USD Point-in-time
Preferred stock, shares issued (in shares) PreferredStockSharesIssued 0.00 shares Point-in-time
Accounts receivable - net AccountsAndOtherReceivablesNetCurrent $1.87B USD Point-in-time
Inventories InventoryNet $833.00M USD Point-in-time
Preferred stock, shares outstanding (in shares) PreferredStockSharesOutstanding 0.00 shares Point-in-time
Inventories InventoryNet $841.00M USD Point-in-time
Other current assets OtherAssetsCurrent $590.00M USD Point-in-time
Common stock, par value (in usd per share) CommonStockParOrStatedValuePerShare $0.00 USD Point-in-time
Other current assets OtherAssetsCurrent $491.00M USD Point-in-time
Common stock, shares authorized (in shares) CommonStockSharesAuthorized 500.00M shares Point-in-time
Current assets AssetsCurrent $4.32B USD Point-in-time
Current assets AssetsCurrent $4.07B USD Point-in-time
Property, plant and equipment - net PropertyPlantAndEquipmentNet $1.40B USD Point-in-time
Common stock, shares issued (in shares) CommonStockSharesIssued 91.25M shares Point-in-time
Property, plant and equipment - net PropertyPlantAndEquipmentNet $1.38B USD Point-in-time
Goodwill Goodwill $2.09B USD Point-in-time
Common stock, shares outstanding (in shares) CommonStockSharesOutstanding 91.25M shares Point-in-time
Goodwill Goodwill $2.14B USD Point-in-time
Other intangible assets - net IntangibleAssetsNetExcludingGoodwill $401.00M USD Point-in-time
Other intangible assets - net IntangibleAssetsNetExcludingGoodwill $408.00M USD Point-in-time
Investments in partially-owned affiliates InvestmentsInAffiliatesSubsidiariesAssociatesAndJointVentures $303.00M USD Point-in-time
Investments in partially-owned affiliates InvestmentsInAffiliatesSubsidiariesAssociatesAndJointVentures $322.00M USD Point-in-time
Assets held for sale DisposalGroupIncludingDiscontinuedOperationAssetsNoncurrent $7.00M USD Point-in-time
Assets held for sale DisposalGroupIncludingDiscontinuedOperationAssetsNoncurrent $7.00M USD Point-in-time
Other noncurrent assets OtherAssetsNoncurrent $954.00M USD Point-in-time
Other noncurrent assets OtherAssetsNoncurrent $914.00M USD Point-in-time
Total assets Assets $9.42B USD Point-in-time
Total assets Assets $9.30B USD Point-in-time
Short-term debt ShortTermBorrowings $7.00M USD Point-in-time
Short-term debt ShortTermBorrowings $2.00M USD Point-in-time
Current portion of long-term debt LongTermDebtAndCapitalLeaseObligationsCurrent $132.00M USD Point-in-time
Current portion of long-term debt LongTermDebtAndCapitalLeaseObligationsCurrent $137.00M USD Point-in-time
Accounts payable AccountsPayableCurrent $2.53B USD Point-in-time
Accounts payable AccountsPayableCurrent $2.42B USD Point-in-time
Accrued compensation and benefits EmployeeRelatedLiabilitiesCurrent $400.00M USD Point-in-time
Accrued compensation and benefits EmployeeRelatedLiabilitiesCurrent $329.00M USD Point-in-time
Restructuring reserve RestructuringReserve $51.00M USD Point-in-time
Restructuring reserve RestructuringReserve $54.00M USD Point-in-time
Other current liabilities OtherLiabilitiesCurrent $599.00M USD Point-in-time
Other current liabilities OtherLiabilitiesCurrent $627.00M USD Point-in-time
Current liabilities LiabilitiesCurrent $3.55B USD Point-in-time
Current liabilities LiabilitiesCurrent $3.74B USD Point-in-time
Long-term debt LongTermDebtAndCapitalLeaseObligations $2.40B USD Point-in-time
Long-term debt LongTermDebtAndCapitalLeaseObligations $2.40B USD Point-in-time
Pension and postretirement benefits DefinedBenefitPensionPlanLiabilitiesNoncurrent $95.00M USD Point-in-time
Pension and postretirement benefits DefinedBenefitPensionPlanLiabilitiesNoncurrent $92.00M USD Point-in-time
Other noncurrent liabilities OtherLiabilitiesNoncurrent $578.00M USD Point-in-time
Other noncurrent liabilities OtherLiabilitiesNoncurrent $590.00M USD Point-in-time
Long-term liabilities LiabilitiesNoncurrent $3.08B USD Point-in-time
Long-term liabilities LiabilitiesNoncurrent $3.08B 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 $57.00M USD Point-in-time
Redeemable noncontrolling interests RedeemableNoncontrollingInterestEquityOtherCarryingAmount $57.00M USD Point-in-time
Preferred shares issued, par value $0.001; 100,000,000 shares authorized, Zero shares issued and outstanding at December 31, 2023 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, 2023 PreferredStockValue - USD Point-in-time
Ordinary shares issued, par value $0.001; 500,000,000 shares authorized, 91,245,859 shares issued and outstanding at December 31, 2023 CommonStockValue - USD Point-in-time
Ordinary shares issued, par value $0.001; 500,000,000 shares authorized, 91,245,859 shares issued and outstanding at December 31, 2023 CommonStockValue - USD Point-in-time
Additional paid-in capital AdditionalPaidInCapital $3.87B USD Point-in-time
Additional paid-in capital AdditionalPaidInCapital $3.97B USD Point-in-time
Accumulated deficit RetainedEarningsAccumulatedDeficit $-903.00M USD Point-in-time
Accumulated deficit RetainedEarningsAccumulatedDeficit $-883.00M USD Point-in-time
Accumulated other comprehensive income (loss) AccumulatedOtherComprehensiveIncomeLossNetOfTax $-842.00M USD Point-in-time
Accumulated other comprehensive income (loss) AccumulatedOtherComprehensiveIncomeLossNetOfTax $-704.00M USD Point-in-time
Shareholders' equity attributable to Adient StockholdersEquity $2.23B USD Point-in-time
Shareholders' equity attributable to Adient StockholdersEquity $2.29B USD Point-in-time
Noncontrolling interests MinorityInterest $331.00M USD Point-in-time
Noncontrolling interests MinorityInterest $318.00M USD Point-in-time
Total shareholders' equity StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $2.51B USD Point-in-time
Total shareholders' equity StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $2.55B USD Point-in-time
Total shareholders' equity StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $2.62B USD Point-in-time
Total shareholders' equity StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $2.38B USD Point-in-time
Total liabilities and shareholders' equity LiabilitiesAndStockholdersEquity $9.30B USD Point-in-time
Total liabilities and shareholders' equity LiabilitiesAndStockholdersEquity $9.42B USD Point-in-time
Income Statement 36 line items
Line Item Tag Value Unit Period
Net sales RevenueFromContractWithCustomerExcludingAssessedTax $3.70B USD 1 Quarter
Net sales RevenueFromContractWithCustomerExcludingAssessedTax $3.66B USD 1 Quarter
Cost of sales CostOfRevenue $3.47B USD 1 Quarter
Cost of sales CostOfRevenue $3.41B USD 1 Quarter
Gross profit GrossProfit $246.00M USD 1 Quarter
Gross profit GrossProfit $231.00M USD 1 Quarter
Selling, general and administrative expenses SellingGeneralAndAdministrativeExpense $147.00M USD 1 Quarter
Selling, general and administrative expenses SellingGeneralAndAdministrativeExpense $138.00M USD 1 Quarter
Restructuring and impairment costs RestructuringCostsAndAssetImpairmentCharges $7.00M USD 1 Quarter
Restructuring and impairment costs RestructuringCostsAndAssetImpairmentCharges $11.00M USD 1 Quarter
Equity income IncomeLossFromEquityMethodInvestments $23.00M USD 1 Quarter
Equity income IncomeLossFromEquityMethodInvestments $28.00M USD 1 Quarter
Earnings before interest and income taxes IncomeLossFromContinuingOperationsBeforeInterestExpenseInterestIncomeIncomeTaxesExtraordinaryItemsNoncontrollingInterestsNet $111.00M USD 1 Quarter
Earnings before interest and income taxes IncomeLossFromContinuingOperationsBeforeInterestExpenseInterestIncomeIncomeTaxesExtraordinaryItemsNoncontrollingInterestsNet $114.00M USD 1 Quarter
Net financing charges InterestIncomeExpenseNet $-41.00M USD 1 Quarter
Net financing charges InterestIncomeExpenseNet $-44.00M USD 1 Quarter
Other pension expense (income) PensionExpense $2.00M USD 1 Quarter
Other pension expense (income) PensionExpense $9.00M USD 1 Quarter
Income before income taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest $64.00M USD 1 Quarter
Income before income taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest $65.00M USD 1 Quarter
Income tax provision (benefit) IncomeTaxExpenseBenefit $20.00M USD 1 Quarter
Income tax provision (benefit) IncomeTaxExpenseBenefit $31.00M USD 1 Quarter
Net income ProfitLoss $45.00M USD 1 Quarter
Net income ProfitLoss $33.00M USD 1 Quarter
Income attributable to noncontrolling interests NetIncomeLossAttributableToNoncontrollingInterest $25.00M USD 1 Quarter
Income attributable to noncontrolling interests NetIncomeLossAttributableToNoncontrollingInterest $21.00M USD 1 Quarter
Net income attributable to Adient NetIncomeLoss $12.00M USD 1 Quarter
Net income attributable to Adient NetIncomeLoss $20.00M USD 1 Quarter
Basic (in usd per share) EarningsPerShareBasic $0.13 USD 1 Quarter
Basic (in usd per share) EarningsPerShareBasic $0.22 USD 1 Quarter
Diluted (in usd per share) EarningsPerShareDiluted $0.21 USD 1 Quarter
Diluted (in usd per share) EarningsPerShareDiluted $0.13 USD 1 Quarter
Basic (in shares) WeightedAverageNumberOfSharesOutstandingBasic 95.10M shares 1 Quarter
Basic (in shares) WeightedAverageNumberOfSharesOutstandingBasic 92.90M shares 1 Quarter
Diluted (in shares) WeightedAverageNumberOfDilutedSharesOutstanding 95.90M shares 1 Quarter
Diluted (in shares) WeightedAverageNumberOfDilutedSharesOutstanding 93.60M shares 1 Quarter
Cash Flow Statement 76 line items
Line Item Tag Value Unit Period
Net income attributable to Adient NetIncomeLoss $12.00M USD 1 Quarter
Net income attributable to Adient NetIncomeLoss $20.00M USD 1 Quarter
Income attributable to noncontrolling interests NetIncomeLossAttributableToNoncontrollingInterest $25.00M USD 1 Quarter
Income attributable to noncontrolling interests NetIncomeLossAttributableToNoncontrollingInterest $21.00M USD 1 Quarter
Net income ProfitLoss $45.00M USD 1 Quarter
Net income ProfitLoss $33.00M USD 1 Quarter
Depreciation Depreciation $72.00M USD 1 Quarter
Depreciation Depreciation $69.00M USD 1 Quarter
Amortization of intangibles AmortizationOfIntangibleAssets $11.00M USD 1 Quarter
Amortization of intangibles AmortizationOfIntangibleAssets $12.00M USD 1 Quarter
Pension and postretirement expense (benefit) PensionAndOtherPostretirementBenefitExpense $3.00M USD 1 Quarter
Pension and postretirement expense (benefit) PensionAndOtherPostretirementBenefitExpense $9.00M USD 1 Quarter
Pension and postretirement contributions, net IncreaseDecreasePensionOPEB $10.00M USD 1 Quarter
Pension and postretirement contributions, net IncreaseDecreasePensionOPEB $3.00M USD 1 Quarter
Equity in earnings of partially-owned affiliates, net of dividends received IncomeLossFromEquityMethodInvestmentsNetOfDividendsOrDistributions $6.00M USD 1 Quarter
Equity in earnings of partially-owned affiliates, net of dividends received IncomeLossFromEquityMethodInvestmentsNetOfDividendsOrDistributions $16.00M USD 1 Quarter
Deferred income taxes DeferredIncomeTaxesAndTaxCredits $-1.00M USD 1 Quarter
Deferred income taxes DeferredIncomeTaxesAndTaxCredits $-6.00M USD 1 Quarter
Equity-based compensation ShareBasedCompensation $13.00M USD 1 Quarter
Equity-based compensation ShareBasedCompensation $8.00M USD 1 Quarter
Other OtherNoncashIncomeExpense $3.00M USD 1 Quarter
Other OtherNoncashIncomeExpense - USD 1 Quarter
Receivables IncreaseDecreaseInAccountsReceivable $-234.00M USD 1 Quarter
Receivables IncreaseDecreaseInAccountsReceivable $-167.00M USD 1 Quarter
Inventories IncreaseDecreaseInInventories $-29.00M USD 1 Quarter
Inventories IncreaseDecreaseInInventories $-22.00M USD 1 Quarter
Other assets IncreaseDecreaseInOtherOperatingAssets $81.00M USD 1 Quarter
Other assets IncreaseDecreaseInOtherOperatingAssets $47.00M USD 1 Quarter
Restructuring reserves IncreaseDecreaseInRestructuringReserve $-9.00M USD 1 Quarter
Restructuring reserves IncreaseDecreaseInRestructuringReserve $-27.00M USD 1 Quarter
Accounts payable and accrued liabilities IncreaseDecreaseInAccountsPayableAndAccruedLiabilities $-256.00M USD 1 Quarter
Accounts payable and accrued liabilities IncreaseDecreaseInAccountsPayableAndAccruedLiabilities $-191.00M USD 1 Quarter
Accrued income taxes IncreaseDecreaseInAccruedTaxesPayable $12.00M USD 1 Quarter
Accrued income taxes IncreaseDecreaseInAccruedTaxesPayable $2.00M USD 1 Quarter
Cash provided (used) by operating activities NetCashProvidedByUsedInOperatingActivities $41.00M USD 1 Quarter
Cash provided (used) by operating activities NetCashProvidedByUsedInOperatingActivities $44.00M USD 1 Quarter
Capital expenditures PaymentsToAcquireProductiveAssets $55.00M USD 1 Quarter
Capital expenditures PaymentsToAcquireProductiveAssets $61.00M USD 1 Quarter
Sale of property, plant and equipment ProceedsFromSaleOfPropertyPlantAndEquipment $14.00M USD 1 Quarter
Sale of property, plant and equipment ProceedsFromSaleOfPropertyPlantAndEquipment $15.00M USD 1 Quarter
Acquisition of businesses, net of cash acquired PaymentsToAcquireBusinessesNetOfCashAcquired - USD 1 Quarter
Acquisition of businesses, net of cash acquired PaymentsToAcquireBusinessesNetOfCashAcquired $6.00M USD 1 Quarter
Proceeds from business divestitures ProceedsFromDivestitureOfBusinessNet $3.00M USD 1 Quarter
Proceeds from business divestitures ProceedsFromDivestitureOfBusinessNet $-3.00M USD 1 Quarter
Other PaymentsForProceedsFromOtherInvestingActivities - USD 1 Quarter
Other PaymentsForProceedsFromOtherInvestingActivities $1.00M USD 1 Quarter
Cash provided (used) by investing activities NetCashProvidedByUsedInInvestingActivities $-44.00M USD 1 Quarter
Cash provided (used) by investing activities NetCashProvidedByUsedInInvestingActivities $-50.00M USD 1 Quarter
Increase (decrease) in short-term debt ProceedsFromRepaymentsOfShortTermDebt $5.00M USD 1 Quarter
Increase (decrease) in short-term debt ProceedsFromRepaymentsOfShortTermDebt - USD 1 Quarter
Increase (decrease) in long-term debt ProceedsFromRepaymentsOfOtherLongTermDebt $2.00M USD 1 Quarter
Increase (decrease) in long-term debt ProceedsFromRepaymentsOfOtherLongTermDebt - USD 1 Quarter
Repayment of long-term debt RepaymentsOfLongTermDebt - USD 1 Quarter
Repayment of long-term debt RepaymentsOfLongTermDebt $2.00M USD 1 Quarter
Debt financing costs PaymentsOfFinancingCosts $7.00M USD 1 Quarter
Debt financing costs PaymentsOfFinancingCosts - USD 1 Quarter
Share repurchases PaymentsForRepurchaseOfCommonStock $100.00M USD 1 Quarter
Share repurchases PaymentsForRepurchaseOfCommonStock - USD 1 Quarter
Dividends paid to noncontrolling interests PaymentsOfDividendsMinorityInterest $48.00M USD 1 Quarter
Dividends paid to noncontrolling interests PaymentsOfDividendsMinorityInterest $50.00M USD 1 Quarter
Share based compensation and other PaymentsRelatedToTaxWithholdingForShareBasedCompensation $12.00M USD 1 Quarter
Share based compensation and other PaymentsRelatedToTaxWithholdingForShareBasedCompensation $12.00M USD 1 Quarter
Cash provided (used) by financing activities NetCashProvidedByUsedInFinancingActivities $-69.00M USD 1 Quarter
Cash provided (used) by financing activities NetCashProvidedByUsedInFinancingActivities $-155.00M USD 1 Quarter
Effect of exchange rate changes on cash and cash equivalents EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $29.00M USD 1 Quarter
Effect of exchange rate changes on cash and cash equivalents EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $38.00M USD 1 Quarter
Increase (decrease) in cash and cash equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect $-120.00M USD 1 Quarter
Increase (decrease) in cash and cash equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect $-46.00M USD 1 Quarter
Cash and cash equivalents at beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $990.00M USD Point-in-time
Cash and cash equivalents at beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $947.00M USD Point-in-time
Cash and cash equivalents at beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $1.11B USD Point-in-time
Cash and cash equivalents at beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $901.00M USD Point-in-time
Cash and cash equivalents at end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $990.00M USD Point-in-time
Cash and cash equivalents at end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $947.00M USD Point-in-time
Cash and cash equivalents at end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $1.11B USD Point-in-time
Cash and cash equivalents at end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $901.00M USD Point-in-time
Comprehensive Income 14 line items
Line Item Tag Value Unit Period
Net income ProfitLoss $45.00M USD 1 Quarter
Net income ProfitLoss $33.00M USD 1 Quarter
Foreign currency translation adjustments OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax $142.00M USD 1 Quarter
Foreign currency translation adjustments OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax $106.00M USD 1 Quarter
Realized and unrealized gains on derivatives OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationAndTax $25.00M USD 1 Quarter
Realized and unrealized gains on derivatives OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationAndTax $9.00M USD 1 Quarter
Other comprehensive income OtherComprehensiveIncomeLossNetOfTax $131.00M USD 1 Quarter
Other comprehensive income OtherComprehensiveIncomeLossNetOfTax $151.00M USD 1 Quarter
Total comprehensive income ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest $196.00M USD 1 Quarter
Total comprehensive income ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest $164.00M USD 1 Quarter
Comprehensive income attributable to noncontrolling interests ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest $38.00M USD 1 Quarter
Comprehensive income attributable to noncontrolling interests ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest $37.00M USD 1 Quarter
Comprehensive income attributable to Adient ComprehensiveIncomeNetOfTax $158.00M USD 1 Quarter
Comprehensive income attributable to Adient ComprehensiveIncomeNetOfTax $127.00M USD 1 Quarter

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

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