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Retirement Plans (Tables)
12 Months Ended
Sep. 30, 2021
Retirement Benefits [Abstract]  
Schedule of projected benefit payments Projected benefit payments from the plans as of September 30, 2021 are estimated as follows (in millions):
2022
$21 
202324 
202423 
202525 
202627 
2027-2031166 
Schedule of plan assets by asset category Adient's plan assets by asset category, are as follows:
 Fair Value Measurements Using:
(in millions)Total as of
September 30,
2021
Quoted Prices
in Active
Markets
(Level 1)
Significant
Other
Observable
Inputs
(Level 2)
Significant
Unobservable
Inputs
(Level 3)
Net Asset Value (NAV)
Pension
Cash$$$— $— $— 
Equity Securities
Domestic12 — 
International - Developed44 27 — 10 
International - Emerging— — — 
Fixed Income Securities
Government237 45 168 — 24 
Corporate/Other82 34 38 — 10 
Hedge Fund88 — 88 — — 
Real Estate23 — — 16 
Total$493 $113 $305 $$68 
 Fair Value Measurements Using:
(in millions)Total as of
September 30,
2020
Quoted Prices
in Active
Markets
(Level 1)
Significant
Other
Observable
Inputs
(Level 2)
Significant
Unobservable
Inputs
(Level 3)
Net Asset Value (NAV)
Pension
Cash$37 $37 $— $— $— 
Equity Securities
Domestic15 — 
International - Developed51 29 11 — 11 
International - Emerging— — — 
Fixed Income Securities
Government219 63 128 — 28 
Corporate/Other64 42 11 — 11 
Hedge Fund75 — 75 — — 
Real Estate22 — — 16 
Total$486 $172 $235 $$73 
Schedule of changes in fair value of pension assets
The following sets forth a summary of changes in the fair value of pension assets measured using significant unobservable inputs (Level 3):

(in millions)Real Estate
Pension
Asset value as of September 30, 2019$
Redemptions— 
Asset value as of September 30, 2020$
Redemptions— 
Unrealized gain
Asset value as of September 30, 2021$
Schedule of changes in projected benefit obligations, changes in plan assets and funded status
The table that follows contains the ABO and reconciliations of the changes in the PBO, the changes in plan assets and the funded status:

 Pension Benefits
(in millions)20212020
Accumulated Benefit Obligation$552 $582 
Change in Projected Benefit Obligation:
Projected benefit obligation at beginning of year$606 $598 
Service cost
Interest cost10 
Actuarial (gain) loss(29)16 
Benefits paid(20)(22)
Settlements and curtailments(16)(11)
Divestitures(2)(12)
Currency translation adjustment18 20 
Projected benefit obligation at end of year$574 $606 
Change in Plan Assets:
Fair value of plan assets at beginning of year$486 $470 
Actual return on plan assets12 
Employer contributions/(distributions)23 19 
Benefits paid(20)(22)
Settlements and curtailments(16)(10)
Divestitures— (1)
Currency translation adjustment16 18 
Fair value of plan assets at end of year$493 $486 
Funded status$(81)$(120)
Amounts recognized in the statement of financial position consist of:
Prepaid benefit cost$51 $26 
Accrued benefit liability(132)(146)
Net amount recognized$(81)$(120)
Schedule of weighted average assumptions
 Pension Benefits
 U.S. PlansNon-U.S. Plans
2021202020212020
Weighted Average Assumptions (1):
Discount rate (2)
3.06 %2.91 %1.71 %1.87 %
Rate of compensation increaseN/AN/A3.06 %3.64 %

(1)
Plan assets and obligations are determined based on a September 30 measurement date.
(2)
Adient considers the expected benefit payments on a plan-by-plan basis when setting assumed discount rates. As a result, Adient uses different discount rates for each plan depending on the plan jurisdiction, the demographics of participants and the expected timing of benefit payments. For the U.S. pension plan, Adient uses a discount rate provided by an independent third party calculated based on an appropriate mix of high quality bonds. For the non-U.S. pension plans, Adient consistently uses the relevant country specific benchmark indices for determining the various discount rates.
Schedule of components and key assumptions of net periodic benefit cost
The tables that follow contain the components and key assumptions of net periodic benefit cost related to Adient’s pension plans:

 Pension Benefits
(in millions)202120202019
Components of Net Periodic Benefit Cost (Credit):
Service cost$$$
Interest cost10 13 
Expected return on plan assets(18)(19)(18)
Net actuarial (gain) loss(15)22 49 
Settlement (gain) loss— 
Net periodic benefit cost (credit)
$(16)$21 $53 

 Pension Benefits
 U.S. PlansNon-U.S. Plans
202120202019202120202019
Expense Assumptions:
Discount rate2.91 %3.34 %4.29 %1.70 %1.85 %2.71 %
Expected return on plan assets5.75 %5.75 %5.00 %3.68 %4.01 %4.08 %
Rate of compensation increaseN/ANANA4.15 %3.66 %3.46 %