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Debt and Financing Arrangements (Tables)

12 Months Ended

Sep. 30, 2020

Debt Disclosure [Abstract]

Schedule of long term debt

Long-term and short-term debt consisted of the following:

						September 30,
(in millions)						2020						2019
Long-term debt:
Term Loan B - LIBOR plus 4.00% due in 2024						$	790					$	798
4.875% Notes due in 2026						797						900
3.50% Notes due in 2024						1,173						1,094
7.00% Notes due in 2026						800						800
9.00% Notes due in 2025						600						—
European Investment Bank Loan - EURIBOR plus 1.58% due in 2022						—						180
Less: debt issuance costs						(55)						(56)
Gross long-term debt						4,105						3,716
Less: current portion						8						8
Net long-term debt						$	4,097					$	3,708
Short-term debt:
European Investment Bank Loan - EURIBOR plus 1.58% due in 2022						$	194					$	—
Other bank borrowings (1)						8						22
Total short-term debt						$	202					$	22

(1) The weighted average interest rates on short-term debts, based on levels of debt maintained in various jurisdictions, were 1.6% and 2.9% at September 30, 2020 and 2019, respectively.

Schedule of maturities of long-term debt

Principal payments required on long-term debt during the next five years are as follows:

						Year Ended September 30,
(in millions)						2021						2022						2023						2024						2025
Principal payments						$	8					$	8					$	8					$	1,939					$	600

Schedule of net financing charges

Adient's net financing charges in the consolidated statements of income (loss) contained the following components:

						Year Ended September 30,
(in millions)						2020						2019						2018
Interest expense, net of capitalized interest costs						$	216					$	167					$	142
Banking fees and debt issuance cost amortization						18						26						7
Interest income						(11)						(11)						(5)
Gain on partial extinguishment of debt						(3)						—						—
Net financing charges						$	220					$	182					$	144

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