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Adient plc | Form 10-K | 40 EMEA Net sales decreased in fiscal 2022 by $800 million primarily as a result of operational interruptions due to certain unplanned production stoppages resulting from semiconductor chip shortages and other supply chain disruptions along with the negative impact of the Russia/Ukraine conflict on EMEA production volumes ($362 million), the unfavorable impact of foreign currency ($466 million), the impact of operational footprint changes ($129 million), partially offset by the favorable impact of material economics recoveries ($115 million), and favorable impact of commercial settlements and net pricing adjustments ($42 million).
Adient currently estimates that upon completion of the restructuring actions, the fiscal 2022 restructuring plan will reduce annual operating costs by approximately $20 million, which is primarily the result of lower costs of sales and selling, general and administrative expenses due to reduced employee-related costs, of which approximately 20% will result in net savings.
Adient currently estimates that upon completion of the restructuring actions, the fiscal 2021 restructuring plan will reduce annual operating costs by approximately $23 million, which is primarily the result of lower costs of sales and selling, general and administrative expenses due to reduced employee-related costs, of which approximately 20%-30% will result in net savings.
Adient currently estimates that upon completion of the restructuring actions, the fiscal 2020 restructuring plan will reduce annual operating costs by approximately $180 million, which is primarily the result of lower costs of sales and selling, general and administrative expenses due to reduced employee-related costs, of which approximately 35%-40% will result in net savings.
Adient also recently announced a...Read more
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(7) Fiscal 2022 reflects $8...Read more
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Indebtedness Adient US LLC ("Adient...Read more
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Fiscal 2020 includes a $21...Read more
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Financial Statements, Disclosures and Schedules
Inside this 10-K Annual Report
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Adient Plc provided additional information to their SEC Filing as exhibits
Ticker: ADNT
CIK: 1670541
Form Type: 10-K Annual Report
Accession Number: 0001670541-22-000118
Submitted to the SEC: Tue Nov 22 2022 4:46:55 PM EST
Accepted by the SEC: Tue Nov 22 2022
Period: Friday, September 30, 2022
Industry: Motor Vehicle Parts And Accessories