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Debt and Financing Arrangements (Tables) | 12 Months Ended
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Sep. 30, 2024
Debt Disclosure [Abstract] |
Schedule of Long Term Debt | Long-term and short-term debt consisted of the following:
|  | September 30,
(in millions) |  | 2024 |  | 2023
Long-term debt: |  |  |  |
8.25% Notes due 2031 |  | $ | 500 |  |  | $ | 500 |
7.00% Secured Notes due 2028 |  | 500 |  |  | 500 |
Term Loan B due in 2031 |  | 632 |  |  | 635 |
4.875% Notes due in 2026 |  | 795 |  |  | 795 |
3.50% Notes due in 2024 |  | — |  |  | 130 |
Other bank borrowings and finance lease obligations |  | 5 |  |  | 4 |
Less: debt issuance costs |  | (28) |  |  | (31) |
Gross long-term debt |  | 2,404 |  |  | 2,533 |
Less: current portion |  | 8 |  |  | 132 |
Net long-term debt |  | $ | 2,396 |  |  | $ | 2,401 |
Short-term debt: |  |  |  |
Other bank borrowings (1) |  | 1 |  |  | 2 |
Total short-term debt |  | $ | 1 |  |  | $ | 2 |
(1) The weighted average interest rates on short-term debts, based on levels of debt maintained in various jurisdictions, were 5.4% and 10.1% at September 30, 2024 and 2023, 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) |  | 2025 |  | 2026 |  | 2027 |  | 2028 |  | 2029 |  | Thereafter
Principal payments |  | $ | 8 |  |  | $ | 803 |  |  | $ | 7 |  |  | $ | 506 |  |  | $ | 6 |  |  | $ | 1,102 |
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) |  | 2024 |  | 2023 |  | 2022
Interest expense, net of capitalized interest costs |  | $ | 191 |  |  | $ | 186 |  |  | $ | 161 |
Banking fees and debt issuance cost amortization |  | 18 |  |  | 20 |  |  | 22 |
Interest income |  | (28) |  |  | (22) |  |  | (9) |
Premium paid on repurchase of debt |  | — |  |  | 7 |  |  | 38 |
Derivative loss on Yanfeng transaction |  | — |  |  | — |  |  | 3 |
Net foreign exchange |  | 8 |  |  | 4 |  |  | — |
Net financing charges |  | $ | 189 |  |  | $ | 195 |  |  | $ | 215 |

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