FY 2017 Second Quarter Earnings Call
Non-GAAP reconciliations
Net Debt and Adjusted Equity Income
Net Debt and Net Leverage
(in $ millions)
March 31
2017
September 30
2016
(in $ millions)
Adjusted Equity Income
ADIENT
Three Months Ended
March 31
2017
2016
(1)
Cash
$
729 $
550
Equity income as reported
$ 91 $ 77
(3)
(2)
Total Debt
3,352
3,521
Purchase accounting amortization
Adjusted equity income
5
5
$
96
$
82
Net Debt
$ 2,623 $
2,971
Pro-forma Adjusted EBITDA (last twelve months)
1,602
1,524
Net Leverage
1.64x
1.95x
1. Cash at September 30, 2016 is pro-forma cash based on the preliminary funding of Adient's opening cash balance on October 31, 2016.
2. Total debt at September 30, 2016 has been revised to include debt issuance costs as a reduction of the carrying amount of the debt in accordance with ASU 2015-03, which was adopted retrospectively by the
company in Q1 2017.
3. Reflects amortization of intangible assets including those related to the YFAI joint venture recorded within equity income.
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