Adient Capital Allocation and China Business Update
Non-GAAP Reconciliations - EBIT, Adj.-EBIT, Adj.-EBITDA, Adj.-Equity Income, Net Debt
Three months ended March 31
2023
2022
(in $ millions)
Net sales
(1)
Cost of sales
Gross profit
GAAP
Adj.
Adjusted
GAAP
Adj.
Adjusted
$ 3,912 $
$ 3,912 $ 3,506
$
$ 3,506
3,662
3,662
3,328
3,328
250
250
178
178
Selling, general and administrative expenses
(3)
Restructuring and impairment costs
Equity income (loss)
(4)
Earnings (loss) before interest and income taxes (EBIT)
(2)
141
(13)
128
135
(19)
116
17
(17)
4
(4)
4
8
12
7
10
17
$
96
38 $ 134
$
46
33
$
79
Ebit margin:
2.5%
3.4%
1.3%
2.3%
Ebit margin excluding Equity Income:
NM Not Meaningful
2.4%
3.1%
1.1%
1.8%
Memo accounts:
Depreciation
Stock based compensation costs
Adjusted EBITDA
Adjusted EBITDA margin:
Adjusted EBITDA margin excluding Equity Income:
Restructuring related charges
Brazil indirect tax recoveries
Insurance recoveries for Malaysia flooding
71
10
$
215
5.5%
5.2%
Three months ended March 31
2023
$
(1)
1
2022
$
(2)
211
Net Debt
ADIENT
76
64
$
159
(in $ millions)
March 31
2023
September 30
2022
4.5%
4.1%
Cash
$
826
$
947
Total Debt
2,533
2,578
Net Debt
$
1,707 $
1,631
1 Cost of sales adjustment
Purchase accounting amortization
$
$
$
(13)
$ (13)
Transaction costs
(1)
(2)
Restructuring related charges
1
Write off of accounts receivable associated with Russia
(1)
Loss on finalization of asset sale in Turkey
(2)
Selling, general and administrative adjustment
$
(13)
$
(19)
Restructuring charges
$
(17)
$
Impairment charge associated with Russian operations
ญญ
(2)
(2)
3 Restructuring and impairment costs
$
(17)
$
(4)
Impairment of interests in nonconsolidated partially owned affiliates
$
7
$
76
Restructuring related charges
1
Purchase accounting amortization
4 Equity income adjustment
J.P. Morgan China Investor Meeting
1
$
8
$
10
Adient PUBLIC
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