20 unchanged sentences
and Toyota Boshoku Corp.
−Removed: Delphi Technologies Plc has been removed from the peer group for all periods due to its recent transaction with BorgWarner, Inc.
Adient plc | Form 10-K | 28
−Removed: Oct/2016 Sep/2017 Sep/2018 Sep/2019 Sep/2020
+Added: Oct/2016 Sep/2017 Sep/2018 Sep/2019 Sep/2020 Sep/2021
Adient plc $ 100 $ 186 $ 89 $ 52 $ 39 $ 94
S&P 500 $ 100 $ 121 $ 142 $ 149 $ 171 $ 222
+Added: Dow Jones US Auto Parts $ 100 $ 137 $ 125 $ 114 $ 116 $ 160
Peer Group $ 100 $ 136 $ 125 $ 109 $ 103 $ 136
−Removed: Adient plc | Form 10-K | 26
−Removed: Selected Financial Data
−Removed: The following selected historical consolidated financial data below should be read in conjunction with Part II, Item 7, "Management's Discussion and Analysis of Financial Condition and Results of Operations" and the historical consolidated financial statements and related notes thereto included in Part II, Item 8 of this Annual Report on Form 10-K to fully understand factors that may affect the comparability of the information presented below.
−Removed: The selected consolidated financial data in this section are not intended to replace the consolidated financial statements and are qualified in their entirety by the consolidated financial statements and related notes included in this Annual Report on Form 10-K.
−Removed: Statement of Operations (dollars in millions) 2020 2019 2018 2017 2016
−Removed: $ 12,670 $ 16,526 $ 17,439 $ 16,213 $ 16,790
−Removed: Gross profit 592 801 904 1,397 1,643
−Removed: Net income (loss) attributable to Adient (1)
−Removed: (547) (491) (1,685) 877 (1,546)
−Removed: Earnings per share (2)
−Removed: Basic $ (5.83) $ (5.25) $ (18.06) $ 9.38 $ (16.50)
−Removed: Diluted $ (5.83) $ (5.25) $ (18.06) $ 9.34 $ (16.50)
−Removed: Balance Sheet Data (dollars in millions)
−Removed: Total assets $ 10,261 $ 10,342 $ 10,942 $ 13,170 $ 12,956
−Removed: Total debt 4,307 3,738 3,430 3,478 3,521
−Removed: Shareholders' equity attributable to Adient 1,213 1,848 2,392 4,279 4,176
−Removed: Total debt to capitalization (3)
−Removed: 78 % 67 % 59 % 45 % 46 %
−Removed: Notes to the Selected Financial Data table:
−Removed: (1) Net income (loss) attributable to Adient includes the following significant items.
−Removed: Refer to Note 18, "Segment Information," of the notes to consolidated financial statements for more information on the individual items below.
−Removed: (in millions) 2020 2019 2018 2017 2016
−Removed: Pension mark-to-market $ (22) $ (49) $ 24 $ 45 $ (110)
−Removed: Gain (loss) on business transactions - net (4)
−Removed: (13) — — 151 —
−Removed: Costs related to Becoming Adient — — (62) (95) —
−Removed: Costs related to the separation of Adient — — — (10) (369)
−Removed: Restructuring costs and impairment charges (5)
−Removed: (469) (176) (1,539) (46) (332)
−Removed: Tax benefit (expense) of items above 33 12 270 22 66
−Removed: (471) (213) (1,307) 67 (745)
−Removed: One-time tax benefit (expense) items (6)
−Removed: (6) (342) (767) 12 (1,891)
−Removed: Impact of significant items $ (477) $ (555) $ (2,074) $ 79 $ (2,636)
−Removed: (2) Adient earnings per share for 2016 were calculated using the number of shares that were distributed to the former Parent shareholders upon the separation (93,671,810 shares).
−Removed: (3) Total debt to capitalization represents total debt divided by the sum of total debt and equity attributable to Adient.
−Removed: (4) Net (gain) loss on business transactions in fiscal 2020 includes a $21 million loss on sale of RECARO automotive high performance seating, a $ 4 million loss on the deconsolidation of Adient Aerospace and a $12 million gain associated with the Yanfeng transaction, and in fiscal 2017 includes a $151 million net gain related to a previously held interest in a China affiliate that is recorded in equity income.
−Removed: Adient plc | Form 10-K | 27
−Removed: (5) Fiscal 2020 restructuring and impairment charges include a $231 million non-cash pre-tax impairment of the YFAI investment (recorded within equity income), a $24 million non-cash pre-tax impairment related to China intangible assets, $21 million of non-cash pre-tax assets held for sale impairments, $8 million of other non-cash pre-tax long-lived asset impairments and a $185 million restructuring charge.
−Removed: Fiscal 2019 restructuring and impairment charges include a $66 million non-cash pre-tax impairment charge related to long-lived assets in the seat structure and mechanism operations, an $18 million non-cash pre-tax impairment charge related to assets held for sale ($6 million in the Americas and $12 million in Asia) and a $92 million restructuring charge.
−Removed: Fiscal 2018 restructuring costs and impairment charges include a $1,086 million of non-cash pre-tax charges related to seat structure and mechanism operations ($787 million relates to long-lived assets and $299 million relates to goodwill), a $358 million non-cash pre-tax impairment charge of the YFAI investment (recorded within equity income), a $49 million non-cash pre-tax impairment charge related to assets held for sale and a $46 million restructuring charge.
−Removed: Amounts in years prior to fiscal 2018 primarily relate to restructuring charges.
−Removed: Refer to Note 5, "Property, Plant and Equipment," Note 6, "Goodwill and Other Intangible Assets," Note 15, "Restructuring and Impairment Costs," Note 16, "Impairment of Long-Lived Assets," and Note 19, "Nonconsolidated Partially-Owned Affiliates," of the notes to the consolidated financial statements for more information.
−Removed: (6) One-time tax expense items in fiscal 2020 primarily relates to establishing valuation allowances in certain jurisdictions and other one-time charges.
−Removed: One-time tax expense items in fiscal 2019 primarily relate to establishing valuation allowances of $297 million and the impact of adjusting year-to-date tax expense of $50 million to reflect the higher estimated annual effective tax rate resulting from the establishment of the valuation allowances.
−Removed: One-time tax expense items in fiscal 2018 primarily relate to establishing valuation allowances of $555 million and the impact of U.S.
−Removed: tax reform of $210 million.
−Removed: Amounts in fiscal 2016 primarily relate to tax charges associated with the separation from the former Parent.
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.