FY 2023 Second Quarter Earnings Call
Non-GAAP Reconciliations - Adjusted Net Income and Adjusted EPS
Adjusted Net Income
Three Months Ended
Adjusted Diluted EPS
ADIENT
Three Mo
Ma
2023
$ (0.16)
0.18
0.15
March 31
(in $ millions)
2023
2022
Net income (loss) attributable to Adient
Restructuring and impairment costs
$
(15) $ (81)
Diluted earnings (loss) per share as reported
17
4
Restructuring and impairment costs
(1)
(1)
Purchase accounting amortization
14
13
Purchase accounting amortization
Restructuring related charges
3
Restructuring related charges
Impairment of interests in nonconsolidated partially-owned affiliates (2)
7
9
Impairment of interests in nonconsolidated partially-owned affiliates (2)
0.07
Write off of deferred financing costs upon repurchase of debt
Foreign exchange loss on intercompany loan in Russia (3)
Premium paid on repurchase of debt (3)
Other items (4)
(3)
4
7
Write off of deferred financing costs upon repurchase of debt (3)
0.04
1
7
34
Foreign exchange loss on intercompany loan in Russia (3)
Premium paid on repurchase of debt (3)
0.07
4
Other items
(4)
(5)
Impact of adjustments on noncontrolling interests
(1)
(2)
Impact of adjustments on noncontrolling interests
(5)
(0.01)
(6)
(6)
Tax impact of above adjustments and other tax items
Adjusted net income (loss) attributable to Adient
(2)
(4)
$ 31
$ (12)
Tax impact of above adjustments and other tax items
Adjusted diluted earnings (loss) per share
(0.02)
0.32
Three Months Ended
March 31
2023
2022
1
Reflects amortization of intangible assets including those related to partially owned affiliates within equity income.
Impairment of interests in nonconsolidated partially owned affiliates
$
7 $
9
1
Restructuring related charges
Purchase accounting amortization
2 Adjustments to equity income
1
$
8
$
10
Premium paid on repurchase of debt
Foreign exchange loss on intercompany loan in Russia
(7)
(34)
Write off of deferred financing costs upon repurchase of debt
(4)
(7)
(1)
Adjustments to net financing charges to calculate adjusted interest expense
$
(11)
$
(42)
Transaction costs
Brazil indirect tax recoveries
(1)
(3)
1
1
Loss on finalization of asset sale in Turkey
(2)
Insurance recoveries for Malaysia flooding
1
Allowance for doubtful accounts receivable associated with Russia
(1)
4 Other items
$
$
(4)
5 Reflects the impact of adjustments, primarily purchase accounting amortization on noncontrolling interests.
Amortization
Tax audit settlements
(2)
(1)
སེཊུ
(2)
Tax rate change
(4)
Other reconciling items
1
2
6 Adjustments to income tax provision (benefit)
$
(2)
$
(4)
FY2023 Second Quarter Earnings Call
Adient - PUBLIC
May 3, 2023
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