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Equity and Noncontrolling Interests | 3 Months Ended
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Dec. 31, 2021
Equity [Abstract] |
Equity and Noncontrolling Interests |
11. Equity and Noncontrolling Interests
For the three months ended December 31, 2021:
(in millions) |  | Ordinary Shares |  | Additional Paid-in Capital |  | Retained Earnings (Accumulated Deficit) |  |  |  | Accumulated Other Comprehensive Income (Loss) |  | Shareholders' Equity Attributable to Adient |  | Shareholders' Equity Attributable to Noncontrolling Interests |  | Total Equity
Balance at September 30, 2021 |  | $ | — |  |  | $ | 3,991 |  |  | $ | (988) |  |  |  |  | $ | (627) |  |  | $ | 2,376 |  |  | $ | 342 |  |  | $ | 2,718 |
Net income (loss) |  | — |  |  | — |  |  | (54) |  |  |  |  | — |  |  | (54) |  |  | 11 |  |  | (43) |
Foreign currency translation adjustments |  | — |  |  | — |  |  | — |  |  |  |  | 17 |  |  | 17 |  |  | 2 |  |  | 19 |
Realized and unrealized gains (losses) on derivatives |  | — |  |  | — |  |  | — |  |  |  |  | (2) |  |  | (2) |  |  | — |  |  | (2) |
Dividends attributable to noncontrolling interests |  | — |  |  | — |  |  | — |  |  |  |  | — |  |  | — |  |  | (8) |  |  | (8) |
Purchase of subsidiary shares from noncontrolling interest |  | — |  |  | 12 |  |  | — |  |  |  |  | — |  |  | 12 |  |  | (12) |  |  | — |
Share based compensation and other |  | — |  |  | (5) |  |  | — |  |  |  |  | — |  |  | (5) |  |  | — |  |  | (5) |
Balance at December 31, 2021 |  | $ | — |  |  | $ | 3,998 |  |  | $ | (1,042) |  |  |  |  | $ | (612) |  |  | $ | 2,344 |  |  | $ | 335 |  |  | $ | 2,679 |
For the three months ended December 31, 2020:
(in millions) |  | Ordinary Shares |  | Additional Paid-in Capital |  | Retained Earnings (Accumulated Deficit) |  |  |  | Accumulated Other Comprehensive Income (Loss) |  | Shareholders' Equity Attributable to Adient |  | Shareholders' Equity Attributable to Noncontrolling Interests |  | Total Equity
Balance at September 30, 2020 |  | $ | — |  |  | $ | 3,974 |  |  | $ | (2,096) |  |  |  |  | $ | (665) |  |  | $ | 1,213 |  |  | $ | 322 |  |  | $ | 1,535 |
Net income (loss) |  | — |  |  | — |  |  | 150 |  |  |  |  | — |  |  | 150 |  |  | 17 |  |  | 167 |
Foreign currency translation adjustments |  | — |  |  | — |  |  | — |  |  |  |  | 55 |  |  | 55 |  |  | 10 |  |  | 65 |
Realized and unrealized gains (losses) on derivatives |  | — |  |  | — |  |  | — |  |  |  |  | 28 |  |  | 28 |  |  | — |  |  | 28 |
Dividends attributable to noncontrolling interests |  | — |  |  | — |  |  | — |  |  |  |  | — |  |  | — |  |  | (4) |  |  | (4) |
Share based compensation and other |  | — |  |  | 8 |  |  | — |  |  |  |  | — |  |  | 8 |  |  | — |  |  | 8 |
Adjustments from adoption of a new standard |  | — |  |  | (2) |  |  | — |  |  |  |  | — |  |  | (2) |  |  | — |  |  | (2) |
Balance at December 31, 2020 |  | $ | — |  |  | $ | 3,980 |  |  | $ | (1,946) |  |  |  |  | $ | (582) |  |  | $ | 1,452 |  |  | $ | 345 |  |  | $ | 1,797 |
The following table presents changes in AOCI attributable to Adient:
|  | Three Months Ended December 31, |  |
(in millions) |  | 2021 |  | 2020 |  |  |  |
Foreign currency translation adjustments |  |  |  |  |  |  |  |
Balance at beginning of period |  | $ | (617) |  |  | $ | (634) |  |  |  |  |
Aggregate adjustment for the period, net of tax |  | 17 |  |  | 55 |  |  |  |  |
Balance at end of period |  | $ | (600) |  |  | $ | (579) |  |  |  |  |
Realized and unrealized gains (losses) on derivatives |  |  |  |  |  |  |  |
Balance at beginning of period |  | $ | (8) |  |  | $ | (28) |  |  |  |  |
Current period changes in fair value, net of tax |  | (1) |  |  | 25 |  |  |  |  |
Reclassification to income, net of tax |  | (1) |  |  | 3 |  |  |  |  |
Balance at end of period |  | $ | (10) |  |  | $ | — |  |  |  |  |
Pension and postretirement plans |  |  |  |  |  |  |  |
Balance at beginning of period |  | $ | (2) |  |  | $ | (3) |  |  |  |  |
Balance at end of period |  | $ | (2) |  |  | $ | (3) |  |  |  |  |
Accumulated other comprehensive income (loss), end of period |  | $ | (612) |  |  | $ | (582) |  |  |  |  |
Adient consolidates certain subsidiaries in which the noncontrolling interest party has within their control the right to require Adient to redeem all or a portion of its interest in the subsidiary. These redeemable noncontrolling interests are reported at their estimated redemption value. Any adjustment to the redemption value impacts retained earnings but does not impact net income. Redeemable noncontrolling interests which are redeemable only upon future events, the occurrence of which is not currently probable, are recorded at carrying value. The following table presents changes in the redeemable noncontrolling interests:
|  | Three Months Ended December 31, |  |
(in millions) |  | 2021 |  | 2020 |  |  |  |
Beginning balance |  | $ | 240 |  |  | $ | 43 |  |  |  |  |
Net income |  | 13 |  |  | 6 |  |  |  |  |
Dividends |  | (31) |  |  | (14) |  |  |  |  |
Change in redeemable noncontrolling interest |  | (186) |  |  | — |  |  |  |  |
Foreign currency translation adjustments |  | 5 |  |  | 7 |  |  |  |  |
Ending balance |  | $ | 41 |  |  | $ | 42 |  |  |  |  |
Refer to Note 3, "Acquisitions and Divestitures," of the notes to the consolidated financial statements for additional information on the change in redeemable noncontrolling interest during the three months ended December 31, 2021.

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