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Appendix
Page 1

Adient plc
Condensed Consolidated Statements of Income (Loss)
(Unaudited)
Three Months Ended
June 30,
(in millions, except per share data)20252024
Net sales$3,741 $3,716 
Cost of sales3,504 3,509 
Gross profit237 207 
Selling, general and administrative expenses129 121 
Restructuring and impairment costs7 16 
Equity income17 24 
Earnings before interest and income taxes118 94 
Net financing charges51 48 
Other pension expense1 1 
Income before income taxes66 45 
Income tax provision7 40 
Net income59 5 
Income attributable to noncontrolling interests23 16 
Net income (loss) attributable to Adient$36 $(11)
Diluted earnings (loss) per share$0.43 $(0.12)
Shares outstanding at period end81.2 87.2 
Diluted weighted average shares83.7 88.6 


Appendix
Page 2

Adient plc
Condensed Consolidated Statements of Financial Position
(Unaudited)

June 30,September 30,
(in millions)20252024
Assets
Cash and cash equivalents$860 $945 
Accounts receivable - net
1,826 1,896 
Inventories726 758 
Other current assets610 487 
Current assets4,022 4,086 
Property, plant and equipment - net1,389 1,410 
Goodwill1,804 2,164 
Other intangible assets - net329 371 
Investments in partially-owned affiliates294 338 
Assets held for sale13 8 
Other noncurrent assets985 974 
Total assets$8,836 $9,351 
Liabilities and Shareholders' Equity
Short-term debt$9 $9 
Accounts payable and accrued expenses2,898 2,910 
Other current liabilities691 759 
Current liabilities3,598 3,678 
Long-term debt2,385 2,396 
Other noncurrent liabilities693 743 
Redeemable noncontrolling interests86 91 
Shareholders' equity attributable to Adient1,785 2,134 
Noncontrolling interests289 309 
Total liabilities and shareholders' equity$8,836 $9,351 



Appendix
Page 3

Adient plc
Condensed Consolidated Statements of Cash Flows
(Unaudited)
Three Months Ended
June 30,
(in millions)20252024
Operating Activities
Net income (loss) attributable to Adient$36 $(11)
Income attributable to noncontrolling interests23 16 
Net income59 5 
Adjustments to reconcile net income to cash provided (used) by operating activities:
Depreciation71 71 
Amortization of intangibles12 12 
Pension and postretirement benefit expense2 3 
Pension and postretirement contributions, net(2)(5)
Equity in earnings of partially-owned affiliates, net of dividends received2 1 
Deferred income taxes(16)14 
Equity-based compensation10 5 
Other(5)2 
Changes in assets and liabilities:
Receivables117 60 
Inventories20 13 
Other assets(62)— 
Accounts payable and accrued liabilities(28)(27)
Accrued income taxes(8)4 
Cash provided by operating activities172 158 
Investing Activities
Capital expenditures(57)(70)
Sale of property, plant and equipment8 — 
Cash used by investing activities(49)(70)
Financing Activities
Increase (decrease) in short-term debt(2)3 
Repayment of long-term debt(2)(2)
Share repurchases(50)(75)
Dividends paid to noncontrolling interests(9)(18)
Cash used by financing activities(63)(92)
Effect of exchange rate changes on cash and cash equivalents46 (11)
Increase (decrease) in cash and cash equivalents$106 $(15)

Appendix
Page 4

Footnotes


1. Segment Results

Adient manages its business on a geographic basis and operates in the following three reportable segments for financial reporting purposes: 1) Americas, which is inclusive of North America and South America; 2) Europe, the Middle East and Africa ("EMEA") and 3) Asia Pacific/China ("Asia").

Adient evaluates the performance of its reportable segments using an adjusted EBITDA metric defined as income before income taxes and noncontrolling interests, excluding net financing charges, restructuring and impairment costs, restructuring related-costs, net mark-to-market adjustments on pension and postretirement plans, transaction gains/losses, purchase accounting amortization, depreciation, stock-based compensation and other non-recurring items. Also, certain corporate-related costs are not allocated to the segments. The reportable segments are consistent with how management views the markets served by Adient and reflect the financial information that is reviewed by its chief operating decision maker.

Financial information relating to Adient's reportable segments is as follows:

(in millions)Three months ended June 30, 2025
AmericasEMEAAsiaCorporate/EliminationsConsolidated
Net sales$1,760 $1,268 $721 $(8)$3,741 
Adjusted EBITDA$112 $21 $113 $(20)$226 
Adjusted EBITDA margin6.4 %1.7 %15.7 %N/A6.0 %
Three months ended June 30, 2024
AmericasEMEAAsiaCorporate/EliminationsConsolidated
Net sales$1,737 $1,288 $712 $(21)$3,716 
Adjusted EBITDA$99 $25 $101 $(23)$202 
Adjusted EBITDA margin5.7 %1.9 %14.2 %N/A5.4 %


Appendix
Page 5

The following is a reconciliation of Adient's reportable segments' adjusted EBITDA to income before income taxes:

Three Months Ended
June 30,
(in millions)20252024
Adjusted EBITDA
Americas$112 $99 
EMEA21 25 
Asia113 101 
Subtotal246 225 
Corporate-related costs (1)
(20)(23)
Restructuring and impairment costs (2)
(7)(16)
Purchase accounting amortization (3)
(12)(12)
Restructuring related activities (4)
(7)(4)
Equity based compensation(10)(5)
Depreciation(71)(71)
Other items (5)
(1)— 
Earnings before interest and income taxes$118 $94 
Net financing charges(51)(48)
Other pension expense(1)(1)
Income before income taxes$66 $45 

Refer to the Footnote Addendum for footnote explanations.


2. Earnings Per Share

The following table reconciles the numerators and denominators used to calculate basic and diluted income (loss) per share:

Three Months Ended
June 30,
(in millions, except per share data)20252024
Income available to shareholders
Net income (loss) attributable to Adient$36 $(11)
Weighted average shares outstanding
Basic weighted average shares outstanding83.5 88.6 
Effect of dilutive securities:
Unvested restricted stock and unvested performance share awards0.2 — 
Diluted weighted average shares outstanding83.7 88.6 
Earnings (loss) per share:
Basic$0.43 $(0.12)
Diluted$0.43 $(0.12)

Potentially dilutive securities whose effect would have been anti-dilutive are excluded from the computation of diluted loss per share, which for the three months ended June 30, 2024 is a result of being in a loss position.

Appendix
Page 6

3. Non-GAAP Measures

Adjusted EBIT, adjusted EBIT margin, adjusted EBITDA, adjusted EBITDA margin, adjusted net income attributable to Adient, adjusted effective tax rate, adjusted earnings per share, adjusted equity income, adjusted interest expense, free cash flow, net debt, and net leverage ratio as well as other measures presented on an adjusted basis are not recognized terms under U.S. GAAP and do not purport to be alternatives to the most comparable U.S. GAAP amounts. Since all companies do not use identical calculations, our definition and presentation of these measures may not be comparable to similarly titled measures reported by other companies. Management uses the identified non-GAAP measures to evaluate the operating performance of Adient and its business segments and to forecast future periods. Management believes these non-GAAP measures assist investors and other interested parties in evaluating Adient's on-going operations and provide important supplemental information to management and investors regarding financial and business trends relating to Adient's financial condition and results of operations. Investors should not consider these non-GAAP measures as alternatives to the related GAAP measures. Reconciliations of non-GAAP measures to their closest U.S. GAAP equivalent are presented in the corresponding tables that follow the definitions below. Reconciliations of non-GAAP measures related to guidance for any future period have not been provided due to the unreasonable efforts it would take to provide such reconciliations.

Table
(a)Adjusted EBIT is defined as earnings before income taxes and noncontrolling interests excluding net financing charges, restructuring, impairment and related costs, purchase accounting amortization, transaction gains/losses, other significant non-recurring items, and net mark-to-market adjustments on pension and postretirement plans. Adjusted EBIT margin is adjusted EBIT as a percentage of net sales.
(b)Adjusted EBITDA is defined as adjusted EBIT excluding depreciation and equity based compensation. Certain corporate-related costs are not allocated to the business segments in determining adjusted EBITDA. Adjusted EBITDA margin is adjusted EBITDA as a percentage of net sales.
(c)Adjusted net income attributable to Adient is defined as net income (loss) attributable to Adient excluding restructuring, impairment and related costs, purchase accounting amortization, transaction gains/losses, other significant non-recurring items, net mark-to-market adjustments on pension and postretirement plans, the tax impact of these items and other discrete tax charges/benefits.
(d)Adjusted income tax expense is defined as income tax expense adjusted for the tax effect of the adjustments to income before income taxes and other discrete tax changes/benefits. Adjusted effective tax rate is defined as adjusted income tax provision as a percentage of adjusted income before income taxes.
(e)Adjusted diluted earnings per share is defined as adjusted net income attributable to Adient divided by diluted weighted average shares.
(f)Adjusted equity income is defined as equity income excluding amortization of Adient's intangible assets related to its non-consolidated joint ventures and other unusual or non-recurring items impacting equity income.
(g)Adjusted interest expense is defined as net financing charges excluding unusual or one-time items impacting interest expense.
(h)Free cash flow is defined as cash provided by operating activities less capital expenditures.
(i)Net debt is calculated as total debt (short-term and long-term) less cash and cash equivalents.
(j)Net leverage ratio is calculated as net debt divided by adjusted EBITDA for the last four quarters.






Appendix
Page 7

Reconciliations of non-GAAP measures to their closest US GAAP equivalent:


(a) & (b) Adjusted EBIT and Adjusted EBITDA

The following table reconciles net income to EBIT, adjusted EBIT and adjusted EBITDA:

Three Months Ended
June 30,
(in millions)20252024
Net income$59 $5 
Net financing charges51 48 
Other pension expense1 1 
Income tax expense7 40 
Earnings before interest and income taxes (EBIT)$118 $94 
EBIT adjustments:
Restructuring and impairment costs (2)
7 16 
Purchase accounting amortization (3)
12 12 
Restructuring related activities (4)
7 4 
Other items (5)
1 — 
EBIT adjustments total27 32 
Adjusted EBIT$145 $126 
EBITDA adjustments:
Depreciation71 71 
Equity based compensation10 5 
Adjusted EBITDA$226 $202 
Net sales$3,741 $3,716 
Net income as % of net sales1.6 %0.1 %
EBIT as % of net sales3.2 %2.5 %
Adjusted EBIT as % of net sales3.9 %3.4 %
Adjusted EBITDA as % of net sales6.0 %5.4 %

Refer to the Footnote Addendum for footnote explanations.


(c) Adjusted net income (loss) attributable to Adient

The following table reconciles net income (loss) attributable to Adient to adjusted net income attributable to Adient:

Three Months Ended
June 30,
(in millions)20252024
Net income (loss) attributable to Adient$36 $(11)
Net income adjustments:
EBIT adjustments total - see table (a) & (b)27 32 
Tax impact of EBIT adjustments and other tax items - see table (d)(23)10 
Impact of adjustments on noncontrolling interests (6)
(2)(2)
Net income adjustments total2 40 
Adjusted net income attributable to Adient$38 $29 

Appendix
Page 8


Refer to the Footnote Addendum for footnote explanations.


(d) Adjusted income tax expense and effective tax rate

The following table reconciles income before income taxes to adjusted income before income taxes, reconciles income tax expense to adjusted income tax expense and presents the related effective tax rate and adjusted effective tax rate:

Three months ended June 30,
20252024
(in millions, except effective tax rate)Income before income taxesIncome tax expense (benefit)Effective tax rateIncome before income taxesIncome tax expense (benefit) Effective tax rate
As reported$66 $7 10.6 %$45 $40 88.9 %
Adjustments
EBIT adjustments - see table (a) & (b)27 1 3.7 %32 5 15.6 %
Tax audit closures and statute expirations— 16 nm— — nm
FX remeasurements of tax balances— 7 nm— (15)nm
Other— (1)nm— — nm
Subtotal of adjustments27 23 85.2 %32 (10)(31.3)%
As adjusted$93 $30 32.3 %$77 $30 39.0 %

nm - not meaningful


(e) Adjusted diluted earnings per share

The following table shows the calculation of diluted earnings per share on an adjusted basis:

Three Months Ended
June 30,
(in millions, except per share data)20252024
Numerator:
Adjusted net income attributable to Adient - see table (c)$38 $29 
Denominator:
Basic weighted average shares outstanding83.5 88.6 
Effect of dilutive securities:
Unvested restricted stock and unvested performance share awards0.2 0.7 
Diluted weighted average shares outstanding83.7 89.3 
Adjusted diluted earnings per share$0.45 $0.32 



Appendix
Page 9

The following table reconciles diluted earnings (loss) per share as reported to adjusted diluted earnings per share (see table (c) for corresponding dollar amounts):

Three Months Ended
June 30,
20252024
Diluted earnings (loss) per share as reported$0.43 $(0.12)
EBIT adjustments total0.31 0.35 
Tax impact of EBIT adjustments and other tax items(0.27)0.11 
Impact of adjustments on noncontrolling interests (0.02)(0.02)
Adjusted diluted earnings per share$0.45 $0.32 


(f) Adjusted equity income

The following table reconciles equity income to adjusted equity income:
Three Months Ended
June 30,
(in millions)20252024
Equity income$17 $24 
Equity income adjustments:
Restructuring charges at an affiliate6 — 
One-time divestiture related impact at an affiliate— (1)
Equity income adjustments total6 (1)
Adjusted equity income$23 $23 


(g) Adjusted interest expense

The following table reconciles net financing charges to adjusted net financing charges:

Three Months Ended
June 30,
(in millions)20252024
Net financing charges$51 $48 
Interest expense adjustments:
None— — 
Interest expense adjustments total— — 
Adjusted net financing charges$51 $48 


Appendix
Page 10

(h) Free cash flow

The following table reconciles cash from operating activities to free cash flow:

Three Months Ended
June 30,		Nine Months Ended
June 30,
(in millions)2025202420252024
Operating cash flow$172 $158 $236 $280 
Capital expenditures(57)(70)(166)(194)
Free cash flow$115 $88 $70 $86 


The following table reconciles adjusted EBITDA to free cash flow:

Three Months Ended
June 30,		Nine Months Ended
June 30,
(in millions)2025202420252024
Adjusted EBITDA $226 $202 $655 $645 
Adjusted equity income(23)(23)(63)(67)
Dividends from partially owned affiliates20 25 72 46 
Restructuring (cash)(34)(12)(101)(33)
Net customer tooling(31)(15)(49)(13)
Trade working capital (Net AR/AP + Inventory)42 11 50 46 
Accrued compensation53 9 22 (41)
Interest paid(55)(56)(142)(153)
Tax refund/taxes paid(31)(24)(70)(76)
Non-income related taxes (VAT)(34)(1)(52)(22)
Commercial settlements41 22 13 14 
Net capitalized engineering(23)5 (35)(6)
Other21 15 (64)(60)
Operating cash flow172 158 236 280 
Capital expenditures(57)(70)(166)(194)
Free cash flow$115 $88 $70 $86 



Appendix
Page 11

(i) & (j) Net debt and net leverage ratio

The following table presents calculations of net debt and net leverage ratio:

June 30,September 30,
(in millions)20252024
Numerator:
Short-term debt$— $1 
Current portion of long-term debt9 8 
Long-term debt2,385 2,396 
Total debt2,394 2,405 
Less: cash and cash equivalents860 945 
Net debt$1,534 $1,460 
Denominator:
Adjusted EBITDA - last four quarters
Q1 2024na$216 
Q2 2024na227 
Q3 2024na202 
Q4 2024 235 235 
Q1 2025 196 na
Q2 2025233 na
Q3 2025 - see table (a) & (b)226 na
Last four quarters$890 $880 
Net leverage ratio1.721.66

Appendix
Page 12

Footnote Addendum

(1) Corporate-related costs not allocated to the segments include executive office, communications, corporate development, legal and corporate finance.

(2) Reflects restructuring charges for costs that are probable and reasonably estimable and one-time asset impairments related
to restructuring activities.

(3) Reflects amortization of intangible assets including those related to partially owned affiliates recorded within equity income.

(4) Reflects restructuring-related charges for costs that are recorded as incurred or as earned and other non-recurring impacts that are directly attributable to restructuring activities:

Three Months Ended
June 30,
(in millions)20252024
Restructuring related charges$(7)$(4)
Restructuring charges at an affiliate(6)— 
Gain of sale of restructured facility6 — 
$(7)$(4)

(5) Other items include:

Three Months Ended
June 30,
(in millions)20252024
One-time divestiture related impact at an affiliate$— $1 
Transaction costs(1)(1)
$(1)$— 

(6) Reflects the impact of adjustments, primarily purchase accounting amortization on noncontrolling interests.