Debt and Financing Arrangements (Tables)

6 Months Ended

Mar. 31, 2021

Debt Disclosure [Abstract]

Schedule of Debt

Debt consisted of the following:

(in millions)	March 31, 2021		September 30, 2020
Long-term debt:
Term Loan B - LIBOR plus 4.25% due in 2024	$	786	$	790
4.875% Notes due in 2026	797		797
3.50% Notes due in 2024	1,173		1,173
7.00% Notes due in 2026	160		800
9.00% Notes due in 2025	600		600
European Investment Bank Loan - EURIBOR plus 1.58% due in 2022	178		—
Less: debt issuance costs	(40)		(55)
Gross long-term debt	3,654		4,105
Less: current portion	8		8
Net long-term debt	$	3,646	$	4,097
Short-term debt:
European Investment Bank Loan - EURIBOR plus 1.58% due in 2022	$	—	$	194
Other bank borrowings	14		8
Total short-term debt	$	14	$	202

Schedule of Net Financing Charges

Adient's net financing charges in the consolidated statements of income (loss) contained the following components:

	Three Months Ended March 31,				Six Months Ended March 31,
(in millions)	2021		2020		2021		2020
Interest expense, net of capitalized interest costs	$	57	$	48	$	116	$	96
Banking fees and debt issuance cost amortization	10		4		13		8
Interest income	(2)		(3)		(4)		(7)
Premium paid on repurchase of debt	45		—		45		—
Net foreign exchange	—		1		(1)		1
Net financing charges	$	110	$	50	$	169	$	98