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Income Taxes (Tables) | 12 Months Ended
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Sep. 30, 2024
Income Tax Disclosure [Abstract] |
Schedule of Income Before Income Tax, Domestic and Foreign | Consolidated income (loss) before income taxes and noncontrolling interests for the years ended September 30, 2024, 2023, and 2022 is as follows:
|  | Year Ended September 30,
(in millions) |  | 2024 |  | 2023 |  | 2022
Ireland |  | $ | (13) |  |  | $ | (1) |  |  | $ | (2) |
United States |  | (361) |  |  | (178) |  |  | (595) |
Other Foreign |  | 507 |  |  | 474 |  |  | 651 |
Income before income taxes and noncontrolling interests |  | $ | 133 |  |  | $ | 295 |  |  | $ | 54 |
Schedule of Components of the Provision (Benefit) for Income Taxes | The components of the provision (benefit) for income taxes are as follows:
|  | Year Ended September 30,
(in millions) |  | 2024 |  | 2023 |  | 2022
Current |  |  |  |  |  |
Ireland |  | $ | — |  |  | $ | — |  |  | $ | (1) |
US - Federal and State |  | 5 |  |  | 4 |  |  | 6 |
Other Foreign |  | 28 |  |  | 120 |  |  | 84 |
|  | 33 |  |  | 124 |  |  | 89 |
Deferred |  |  |  |  |  |
Ireland |  | — |  |  | — |  |  | 1 |
US - Federal and State |  | — |  |  | 1 |  |  | (1) |
Other Foreign |  | (1) |  |  | (125) |  |  | 5 |
|  | (1) |  |  | (124) |  |  | 5 |
Income tax provision |  | $ | 32 |  |  | $ | — |  |  | $ | 94 |
Schedule of Effective Tax Rate Reconciliation | The reconciliation between the Irish statutory income tax rate, and Adient’s effective tax rate is as follows:
|  | Year Ended September 30,
(in millions) |  | 2024 |  | 2023 |  | 2022
Tax expense at Ireland statutory rate |  | $ | 17 |  |  | $ | 37 |  |  | $ | 7 |
State and local income taxes, net of federal benefit |  | (15) |  |  | (5) |  |  | (38) |
Foreign tax rate differential |  | 9 |  |  | 22 |  |  | (1) |
Notional interest deduction |  | (6) |  |  | (6) |  |  | (6) |
Credits and incentives |  | (12) |  |  | (7) |  |  | (15) |
Repatriation of foreign earnings |  | 18 |  |  | 24 |  |  | 24 |
Foreign exchange |  | 17 |  |  | (7) |  |  | (2) |
Impact of tax rate changes |  | (1) |  |  | — |  |  | (3) |
Audit settlements and change in uncertain tax positions |  | (43) |  |  | (8) |  |  | (2) |
Change in valuation allowance |  | 90 |  |  | (61) |  |  | 94 |
Tax adjustments to value of investments |  | (38) |  |  | — |  |  | — |
Tax impact of corporate equity and business restructuring transactions |  | 1 |  |  | 1 |  |  | 30 |
Other |  | (5) |  |  | 10 |  |  | 6 |
Income tax provision |  | $ | 32 |  |  | $ | — |  |  | $ | 94 |
Schedule of Deferred Taxes | Deferred taxes are classified in the consolidated statements of financial position as follows:
|  | September 30,
(in millions) |  | 2024 |  | 2023
Other noncurrent assets |  | $ | 245 |  |  | $ | 253 |
Other noncurrent liabilities |  | (191) |  |  | (206) |
Net deferred tax asset |  | $ | 54 |  |  | $ | 47 |
Schedule of Temporary Differences and Carryforwards | Temporary differences and carryforwards which gave rise to deferred tax assets and liabilities included:
|  | September 30,
(in millions) |  | 2024 |  | 2023
Deferred tax assets: |  |  |  |
Accrued expenses and reserves |  | $ | 123 |  |  | $ | 135 |
Employee and retiree benefits |  | 24 |  |  | 25 |
Net operating loss and other carryforwards |  | 1,400 |  |  | 1,293 |
Property, plant and equipment |  | 114 |  |  | 113 |
Intangible assets |  | 112 |  |  | 132 |
Operating lease liabilities |  | 57 |  |  | 55 |
Research and development |  | 102 |  |  | 66 |
|  | 1,932 |  |  | 1,819 |
Valuation allowances |  | (1,769) |  |  | (1,655) |
|  | 163 |  |  | 164 |
Deferred tax liabilities: |  |  |  |
Unremitted earnings of foreign subsidiaries |  | 39 |  |  | 38 |
Indirect tax credits |  | — |  |  | 10 |
Operating lease right-of-use assets |  | 57 |  |  | 55 |
Other |  | 13 |  |  | 14 |
|  | 109 |  |  | 117 |
Net deferred tax asset |  | $ | 54 |  |  | $ | 47 |
Schedule of Unrecognized Tax Benefits | A reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows:
|  | Year Ended September 30,
(in millions) |  | 2024 |  | 2023 |  | 2022
Beginning balance |  | $ | 527 |  |  | $ | 499 |  |  | $ | 499 |
Additions for tax positions related to the current year |  | 6 |  |  | 2 |  |  | 62 |
Additions for tax positions of prior years |  | 18 |  |  | 50 |  |  | 2 |
Reductions for tax positions of prior years |  | (9) |  |  | (5) |  |  | (52) |
Settlements with taxing authorities |  | (115) |  |  | (11) |  |  | (3) |
Statute closings |  | (5) |  |  | (8) |  |  | (9) |
Ending balance |  | $ | 422 |  |  | $ | 527 |  |  | $ | 499 |

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- Definition Tabular disclosure of the components of income tax expense attributable to continuing operations for each year presented including, but not limited to: current tax expense (benefit), deferred tax expense (benefit), investment tax credits, government grants, the benefits of operating loss carryforwards, tax expense that results from allocating certain tax benefits either directly to contributed capital or to reduce goodwill or other noncurrent intangible assets of an acquired entity, adjustments of a deferred tax liability or asset for enacted changes in tax laws or rates or a change in the tax status of the entity, and adjustments of the beginning-of-the-year balances of a valuation allowance because of a change in circumstances that causes a change in judgment about the realizability of the related deferred tax asset in future years. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 9 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482685/740-10-50-9 + Details
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