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Nonconsolidated Partially-Owned Affiliates | 12 Months Ended
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Sep. 30, 2024
Equity Method Investments and Joint Ventures [Abstract] |
Nonconsolidated Partially-Owned Affiliates | 18. Nonconsolidated Partially-Owned Affiliates Investments in the net assets of nonconsolidated partially-owned affiliates are reported in the "Investments in partially-owned affiliates" line in the consolidated statements of financial position. Equity in the net income of nonconsolidated partially-owned affiliates are reported in the “Equity income” line in the consolidated statements of income (loss). Adient maintains total investments in partially-owned affiliates of $338 million and $303 million at September 30, 2024 and 2023, respectively. Operating information for nonconsolidated partially-owned affiliates is as follows:
|  | % ownership at September 30,
Name of key partially-owned affiliate |  | 2024 |  | 2023
KEIPER Seating Mechanisms Co., Ltd. (“KEIPER”) |  | 50.0% |  | 50.0%
Changchun FAWAY Adient Automotive Systems Co. Ltd. (“CFAA”) |  | 49.0% |  | 49.0%
|  | Year Ended September 30,
(in millions) |  | 2024 |  | 2023 |  | 2022
Income statement data: |  |  |  |  |  |
Net sales |  | $ | 3,783 |  |  | $ | 3,791 |  |  | $ | 4,039 |
Gross profit |  | $ | 368 |  |  | $ | 346 |  |  | $ | 374 |
Net income |  | $ | 184 |  |  | $ | 173 |  |  | $ | 189 |
Net income attributable to the entity |  | $ | 182 |  |  | $ | 171 |  |  | $ | 187 |
|  | September 30,
(in millions) |  | 2024 |  | 2023
Balance sheet data: |  |  |  |
Current assets |  | $ | 2,072 |  |  | $ | 1,800 |
Noncurrent assets |  | $ | 730 |  |  | $ | 756 |
Current liabilities |  | $ | 1,875 |  |  | $ | 1,639 |
Noncurrent liabilities |  | $ | 269 |  |  | $ | 283 |
During fiscal 2023, Adient concluded that indicators of other-than-temporary impairment were present related to nonconsolidated partially-owned affiliates in Asia and EMEA, and recorded non-cash impairment charges of $3 million and $3 million as a result, respectively. In fiscal 2023 and 2022, Adient and KEIPER have modified existing supply agreements, resulting in reductions in Adient’s purchase prices on certain products. Such modifications resulted in reductions of $25 million and $34 million in Adient’s cost of sales and equity income, respectively, during fiscal 2023. The modifications resulted in reductions of $14 million and $17 million in Adient’s cost of sales and equity income, respectively, during fiscal 2022.

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- Definition The entire disclosure for equity method investments and joint ventures. Equity method investments are investments that give the investor the ability to exercise significant influence over the operating and financial policies of an investee. Joint ventures are entities owned and operated by a small group of businesses as a separate and specific business or project for the mutual benefit of the members of the group. + References Reference 1: http://www.xbrl.org/2003/role/recommendedDisclosureRef -Topic 740 -SubTopic 323 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (f) -Publisher FASB -URI https://asc.fasb.org/1943274/2147478156/740-323-50-2 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 323 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Subparagraph (a)(3) -Publisher FASB -URI https://asc.fasb.org/1943274/2147481687/323-10-50-3 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 323 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org/1943274/2147481687/323-10-50-3 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Name Accounting Standards Codification -Topic 323 -Publisher FASB -URI https://asc.fasb.org/323/tableOfContent + Details
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