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Debt and Financing Arrangements (Tables) | 3 Months Ended
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Dec. 31, 2021
Debt Disclosure [Abstract] |
Schedule of Debt | Debt consisted of the following:
(in millions) |  | December 31, 2021 |  | September 30, 2021
Long-term debt: |  |  |  |
Term Loan B - LIBOR plus 3.50% due in 2028 |  | $ | 995 |  |  | $ | 998 |
4.875% Notes due in 2026 |  | 795 |  |  | 795 |
3.50% Notes due in 2024 |  | 1,132 |  |  | 1,161 |
9.00% Notes due in 2025 |  | 600 |  |  | 600 |
European Investment Bank Loan - EURIBOR plus 1.58% due in 2022 |  | 152 |  |  | 156 |
Finance lease obligations |  | 1 |  |  | 1 |
Less: debt issuance costs |  | (30) |  |  | (32) |
Gross long-term debt |  | 3,645 |  |  | 3,679 |
Less: current portion |  | 163 |  |  | 167 |
Net long-term debt |  | $ | 3,482 |  |  | $ | 3,512 |
Short-term debt: |  |  |  |
Other bank borrowings |  | $ | 11 |  |  | $ | 17 |
Total short-term debt |  | $ | 11 |  |  | $ | 17 |
Schedule of Net Financing Charges | Adient's net financing charges in the consolidated statements of income (loss) contained the following components:
|  | Three Months Ended December 31, |  |
(in millions) |  | 2021 |  | 2020 |  |  |  |
Interest expense, net of capitalized interest costs |  | $ | 46 |  |  | $ | 59 |  |  |  |  |
Banking fees and debt issuance cost amortization |  | 3 |  |  | 3 |  |  |  |  |
Interest income |  | (2) |  |  | (2) |  |  |  |  |
Derivative loss on Yanfeng transaction |  | 3 |  |  | — |  |  |  |  |
Net foreign exchange |  | — |  |  | (1) |  |  |  |  |
Net financing charges |  | $ | 50 |  |  | $ | 59 |  |  |  |  |

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