Search SEC Filings

...During fiscal 2023, Adient committed to a restructuring plan ("2023 Plan") of $ 7 million. The restructuring actions relate to cost reduction initiatives and consist primarily of workforce reductions in EMEA. The restructuring actions are expected to be substantially completed by fiscal 2026. Restructuring costs are included in restructuring and impairment...

...18 INDEX Note 9 - Restructuring and Related Charges (Credits) Fiscal Year 2023 Restructuring Program In May 2022, the Company initiated a global program to restructure and align our cost base with current and anticipated future market conditions (Fiscal Year 2023 Restructuring Program). The following tables summarize the pretax restructuring charges...

...18 INDEX Note 9 - Restructuring and Related Charges (Credits) Fiscal Year 2023 Restructuring Program In May 2022, the Company initiated a global program to restructure and align our cost base with current and anticipated future market conditions (Fiscal Year 2023 Restructuring Program). The following tables summarize the pretax restructuring charges...

...In August 2025, the Company announced a subsequent restructuring plan (the “2025 Restructuring Plan” and, together with the 2024 Restructuring Plan, the “Restructuring Plans”), which includes a reduction in global headcount and is intended to continue to improve the Company’s cost structure, operating efficiency, and profitability, while providing the...

...For the Quarters Ended December 31, Restructuring and related costs 2025 2024 Cost of products sold - Restructuring $ 9.2 $ 9.4 Cost of products sold - U.S. operating efficiency project 6.1 - SG&A - Restructuring costs 15.6 4.8 SG&A - IT Enablement - 6.1 Total Restructuring and related...

...Restructuring and Asset Impairment Charges Restructuring From time to time, the Company will incur costs related to restructuring actions in order to optimize our cost base and more strategically position ourselves. During the three and six months ended June 30, 2021, we recognized restructuring charges of $ 3 million and $ 8...

...IMPAIRMENT, RESTRUCTURING AND OTHER Activity described herein is classified within the “Cost of sales-impairment, restructuring and other” and “Impairment, restructuring and other” lines in the Condensed Consolidated Statements of Operations. The following table details impairment, restructuring and other charges (recoveries) for each of the periods presented: Three Months Ended...

...Project Momentum restructuring and related costs since inception are $172.6. Refer to Note 4, Restructuring, to the Consolidated (Condensed) Financial Statements for additional discussion on the Company's restructuring costs. Although the Company's Project Momentum restructuring costs are recorded outside of segment profit, if allocated to our reportable...

...Restructuring and impairment charges Three Months Ended Nine Months Ended September 25, 2022 September 26, 2021 September 25, 2022 September 26, 2021 Restructuring and impairment charges $ 0.6 $ 1.0 $ 3.0 $ 20.5 Restructuring and impairment credits for the three months ended September 25, 2022 primarily consisted of restructuring...

...Gross profit margin decreased 170 basis points to 28.2%, primarily driven by an increase in restructuring and restructuring-related charges and cost inflation, partially offset by favorable product mix. Molding Technology Solutions gross profit included restructuring and restructuring-related charges ($5.7 in 2024 and $0.4 in 2023...

...There were no acquisition and integration costs during the six months ended March 31, 2023. (4) Restructuring Project Momentum Restructuring - In November 2022, the Board of Directors approved a profit recovery program, Project Momentum, which includes an enterprise-wide restructuring focused on recovering operating margins, optimizing our manufacturing, distribution and...

...Restructuring charges Costs to restructure certain internal operations are accounted for as one-time termination and exit costs. A liability for a cost associated with restructuring activities is recognized and measured at its estimated fair value in our condensed consolidated balance sheet in the period the liability is incurred. All...

...Restructuring charges Costs to restructure certain internal operations are accounted for as one-time termination and exit costs. A liability for a cost associated with restructuring activities is recognized and measured at its estimated fair value in our condensed consolidated balance sheet in the period the liability is incurred. All...

...Restructuring On November 8, 2023, we announced our plans for the Restructuring, designed to simplify our operational footprint and cut costs while maximizing free cash flow. As part of the Restructuring, we began to wind down our mapping and ablation businesses. We also immediately began implementation of the corporate restructuring...

...Other Restructuring Plans The Company has entered into other individually immaterial restructuring plans ("Other Restructuring Plans"). Expenses incurred on such programs are primarily costs to move equipment and other costs. Consolidated Restructuring Plans The total costs incurred from the beginning of the Company's 2023 Restructuring Plan and Other Restructuring...

...See Note 15, “Segment Information,” for restructuring, impairment and transaction-related charges by segment. Restructuring Charges The Company has a restructuring program related to eliminating excess manufacturing capacity and properly aligning its cost structure. The Company classifies the following charges as restructuring: • Employee termination charges are incurred when the Company...

...Pursuant to the Restructuring Support Agreement, the parties agreed to implement the restructuring transactions either as an out-of-court restructuring (the “Out-of-Court Restructuring”) or an in-court restructuring under voluntary pre-packaged cases under chapter 11 of title 11 of the United States Code in a U...

...See Note 16, “Segment Information,” for restructuring, impairment and transaction-related charges, net by segment. Restructuring Charges The Company has a restructuring program related to eliminating excess manufacturing capacity and properly aligning its cost structure. The Company classifies the following charges as restructuring: • Employee termination charges are incurred when the...

...During the three and six months June 30, 2023, the Company recorded restructuring charges of $ 2 million in connection with the project. Other Restructuring and Restructuring-Related Charges The Company regularly incurs other restructuring and restructuring-related costs in connection with various discrete initiatives, including certain costs associated with Project...

...During the three and six months June 30, 2023, the Company recorded restructuring charges of $ 2 million in connection with the project. Other Restructuring and Restructuring-Related Charges The Company regularly incurs other restructuring and restructuring-related costs in connection with various discrete initiatives, including certain costs associated with Project...