Leases

3 Months Ended

Dec. 31, 2021

7. Leases

Adient's lease portfolio consists of operating leases for real estate including production facilities, warehouses and administrative offices, equipment such as forklifts and computer servers and laptops, and fleet vehicles.

The components of lease costs included in the consolidated statement of income (loss) for the three months ended December 31, 2021 and 2020 were as follows:


	Three Months Ended December 31,
(in millions)	2021		2020




Operating lease cost	$	30	$	30
Short-term lease cost	5		6

Total lease cost	$	35	$	36

Operating lease right-of-use assets and lease liabilities included in the consolidated statement of financial position were as follows:


(in millions)		December 31, 2021			September 30, 2021
Operating leases:
Operating lease right-of-use assets	Other noncurrent assets	$	320		$	335

Operating lease liabilities - current	Other current liabilities	$	89		$	89
Operating lease liabilities - noncurrent	Other noncurrent liabilities	231			246
		$	320		$	335





Weighted average remaining lease term:
Operating leases		6 years			6 years


Weighted average discount rate:
Operating leases		5.1		%	5.2		%

Maturities of operating lease liabilities and minimum payments for operating leases having initial or remaining non-cancelable terms in excess of one year as of December 31, 2021 were as follows:


	Operating leases
Fiscal years (in millions)	December 31, 2021
2021 (excluding the three months ended December 31, 2021)	$	83
2022	88
2023	65
2024	45
2025	29
Thereafter	78
Total lease payments	388
Less: imputed interest	(68)
Present value of lease liabilities	$	320

Supplemental cash flow information related to leases was as follows:


	Three Months Ended December 31,
(in millions)	2021		2020
Right-of-use assets obtained in exchange for lease obligations:
Operating leases (non-cash activity)	$	10	$	24


Operating cash flows:
Cash paid for amounts included in the measurement of lease liabilities	$	29	$	29