FY 2023 Second Quarter Earnings Call
Non-GAAP Reconciliations - EBIT, Adj.-EBIT, Adj.-EBITDA, and Adj.-Equity Income
FY2023 Second Quarter Earnings Call
Three months ended March 31
2023
2022
(in $ millions)
Net sales
Cost of sales
(1)
GAAP
Adj.
Adjusted
GAAP
Adj.
Adjusted
$ 3,912
$
$ 3,912 $ 3,506
$
$ 3,506
3,662
3,662
3,328
3,328
Gross profit
250
250
178
178
Selling, general and administrative expenses
Restructuring and impairment costs
Equity income (loss)
(4)
(3)
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
71
10
$
215
Adjusted EBITDA margin:
Adjusted EBITDA margin excluding Equity Income:
5.5%
5.2%
Three months ended March 31
2023
2022
Restructuring related charges
$
Brazil indirect tax recoveries
(1)
1
ՄԴ
$
(2)
1
Insurance recoveries for Malaysia flooding
1
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)
$
(2)
Impairment charge associated with Russian operations
(2)
3 Restructuring and impairment costs
$
(17)
$
(4)
Impairment of interests in nonconsolidated partially owned affiliates
$
7
$
9
Restructuring related charges
1
Purchase accounting amortization
4 Equity income adjustment
1
$
8
$
10
Adient - PUBLIC
76
4
159
4.5%
4.1%
ADIENT
May 3, 2023
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