What changed in this filing

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Item 1. Business

2025-11-18 compared with 2024-11-18 · 58 added, 66 removed, 230 unchanged (35% of the section changed)

Adient plc (“Adient”) is a global leader in the automotive seating supply industry with leading market positions in the Americas, Europe and China and maintains longstanding relationships with the largest global automotive original equipment manufacturers (“OEMs”).

Adient plc (“Adient”) is a global leader in the automotive seating supply industry with leading market positions in the Americas, Europe and Asia and maintains longstanding relationships with the largest global automotive original equipment manufacturers (“OEMs”).

Adient's proprietary technologies extend into virtually every area of automotive seating solutions, including complete seating systems, frames, mechanisms, foam, head restraints, armrests and trim covers.

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Adient designs, manufactures and markets a full range of seating systems and components for passenger cars, commercial vehicles and light trucks, including vans, pick-up trucks and sport/crossover utility vehicles.

Adient operates more than 200 wholly- and majority-owned manufacturing or assembly facilities, with operations in 29 countries.

Adient operates approximately 200 wholly- and majority-owned manufacturing, assembly or sequencing facilities, with operations in 29 countries.

Additionally, Adient has partially-owned affiliates in China, Asia, Europe and North America.

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Global Manufacturing Footprint Adient is a global leader in automotive seating.

With more than 70,000 employees operating in more than 200 manufacturing and assembly plants in 29 countries worldwide, Adient produces and delivers automotive seating for all vehicle classes and all major OEMs.

With more than 65,000 employees operating in approximately 200 manufacturing, assembly or sequencing facilities in 29 countries worldwide, Adient produces and delivers automotive seating for all vehicle classes and all major OEMs.

From complete seating systems to individual components, Adient’s manufacturing capabilities span every aspect of the automotive seat-making process.

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AI technology is being pursued to reduce direct labor costs, improve accuracy and to ensure repeatable and reproducible results.

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Longstanding Customer Relationships with Leading Global OEMs Adient works with OEMs to develop complete seating solutions to meet consumer expectations for performance, safety and comfort.

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Adient's customer teams also lead the new business acquisition process, which ensures alignment with Adient's product, process and manufacturing strategies.

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Product Innovation and Process Leadership Adient has a strong record for developing winning product and process technologies over many years, which has created a competitive advantage for Adient and its customers.

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By leveraging a network of subject matter technical experts, Adient efficiently implements best practices and improves product cost and quality.

Adient's product development practices also entail leveraging low cost country development centers in India, China, Czech Republic and Slovakia.

Adient's product development practices also entail leveraging low cost country development centers in India, China, Czech Republic, Mexico and Slovakia.

Development Centers

Plymouth (USA) Trencin (Slovakia)

Burscheid (Germany) Yokohama (Japan)

Solingen (Germany) Chongqing (China)

Kaiserslautern (Germany) Ceska Lipa (Czech Republic)

Ansan (South Korea) Pune (India)

Ansan (South Korea) Plymouth (USA)

Burscheid (Germany) Pune (India)

Ceska Lipa (Czech Republic) Querétaro (Mexico)

Chongqing (China) Trenčín (Slovakia)

Kaiserslautern (Germany) Yokohama (Japan)

Leadership Position in China Adient is a leading supplier of “just-in-time” seating in China.

It operates through its wholly owned entities and 6 joint ventures (nonconsolidated and consolidated) with 37 manufacturing locations in 22 cities, which are supported by additional technical centers.

It operates through its wholly owned entities and six joint ventures (nonconsolidated and consolidated) with 37 manufacturing locations in 22 cities, which are supported by additional technical centers.

Adient's strong position with European and American automakers is complemented by partnerships with all major auto groups in China, which has resulted in Adient's broad market penetration relative to seating competitors and market leadership in the industry's largest market.

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Adient is able to leverage its position as the market leader in Europe, North America and China to grow in other markets, such as Southeast Asia.

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• Vertical integration.

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Adient designs and manufactures a full range of seating systems and components for passenger cars, commercial vehicles and light trucks, including vans, pick-up trucks and sport/crossover utility vehicles.

Adient's technologies extend into virtually every area of automotive seating solutions including complete seating systems, frames, mechanisms, foam, head restraints, armrests and trim covers.

Adient's technologies extend into virtually every area of automotive seating solutions including complete seating systems, frames, mechanisms, foam, head restraints, armrests

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and trim covers.

In recent years, Adient’s innovative products have emphasized safety and comfort, and incorporated lighter, slimmer and more environmentally friendly materials than traditional seating products.

Refer to the Sustainability section below for additional information.

Adient is a supplier to all of the global OEMs and has longstanding relationships with premier automotive manufacturers, including BMW, Mercedes-Benz Group, Ford Motor Company, General Motors Company, Honda Motor Company, Hyundai Motor Company, Jaguar Land Rover, Kia Corporation, Mazda Motor Corporation, Mitsubishi Motor Corporation, Nissan Motor Corporation, Renault Group, Stellantis N.V., Suzuki Motor Corporation, Toyota Motor Corporation, Volkswagen Group and Volvo Car Group.

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As a supplier with global scale and strong design, engineering and lean manufacturing capabilities in both complete seat systems and components, Adient is well positioned to accommodate each of these three sourcing patterns.

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Shorter Product Development Cycles As a result of new safety and environmental regulations, as well as a trend of more rapid customer preference changes, OEMs are requiring suppliers to respond faster with new designs and product innovations.

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Suppliers with strong technologies, robust global engineering and development capabilities will be best positioned to meet OEM demands for rapid innovation.

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Electric Vehicles Electric vehicles (“EVs”) continue to be a focus in the global automotive industry driven by a variety of product offerings from legacy manufacturers and from new entrants.

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countries where products and services of Adient are sold.

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Most works of authorship produced for Adient, such as computer programs, catalogs and sales literature, carry appropriate notices indicating Adient's claim to copyright protection under U.S.

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Adient operates in a constantly evolving global regulatory environment and is subject to numerous and varying regulatory requirements for its product performance and material content.

Adient's practice is to identify potential regulatory and quality risks early in the design and development process and proactively manage them throughout the product lifecycle through the use of routine assessments, protocols, standards, performance measures and audits.

Adient's practice is to identify potential regulatory and quality

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risks early in the design and development process and proactively manage them throughout the product lifecycle through the use of routine assessments, protocols, standards, performance measures and audits.

New regulations and changes to existing regulations are managed in collaboration with the OEM customers and implemented through Adient's global systems and procedures designed to ensure compliance with existing laws and regulations.

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Costs related to such matters were not material to the periods presented.

Further details regarding Adient's commitments and contingencies is provided in Part II, Item 8 of this Form 10-K in Note 19, "Commitments and Contingencies," of the notes to consolidated financial statements.

Further details regarding Adient's commitments and contingencies are provided in Part II, Item 8 of this Form 10-K in Note 19, “Commitments and Contingencies,” of the notes to consolidated financial statements.

Sustainability

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Adient prioritizes environmental stewardship by integrating sustainability principles into product development initiatives, manufacturing processes, procurement practices, corporate governance activities, and other key business areas.

The Board of Directors and senior managers ensures that Adient operates ethically and in accordance with applicable laws and regulations, and, as appropriate, they oversee and implement sustainability policies and strategies with input from a cross-functional team of subject matter experts across the organization.

Adient regularly communicates its targets and actions related to sustainability to stakeholders through SEC filings, media releases, adient.com website, quarterly earnings reports and the annual corporate sustainability report.

The Board of Directors and senior managers ensure Adient operates ethically and in accordance with applicable laws and regulations;

as appropriate, they oversee and implement sustainability policies and strategies with input from a cross-functional team of subject matter experts across the organization.

Adient regularly communicates its targets and actions related to sustainability to stakeholders through SEC filings, media releases, its adient.com website, quarterly earnings reports, and its annual corporate sustainability report.

Production Processes

Adient remains committed to improving sustainability in its global operations and utilizing standardized processes to reduce energy consumption, conserve water and generate less waste and emissions at facilities globally.

Adient remains committed to improving sustainability in its global operations and utilizing standardized processes to reduce energy consumption, conserve water, and generate less waste and emissions at its sites globally.

Adient set a goal of reducing its scope 1 and 2 greenhouse gas emissions 75% by 2030 (with 2019 as the base year) and continues to make progress toward that goal.

In 2023, Adient expanded its goal with a longer term target of achieving carbon neutrality at its manufacturing sites for scope 1 and 2 greenhouse gas emissions by 2040.

Additionally, by 2040, Adient aspires to achieve carbon neutrality at its manufacturing sites for scope 1 and 2 greenhouse gas emissions.

Some fiscal year 2025 examples of how Adient is reducing emissions and improving sustainability in its operations include:

• Identifying and repairing air leaks in pneumatic plant assembly lines.

• Recovering waste heat from air compressors and using it to help warm buildings.

• Installing wireless communication modules to automatically shut down fans when not needed.

• Optimizing how foam mold temperature machines are connected in parallel to ensure only heating the necessary number of machines.

• Optimizing packaging and delivery routes to reduce waste and fuel usage.

• Replacing liquefied petroleum gas (“LPG”) and diesel forklifts with electric forklifts at the end of their life cycle.

• Developing a comprehensive companywide energy management tool kit with step-by-step guidance, best practices, and executed continuous improvement project examples to help Adient manufacturing sites reduce energy use and related emissions.

• Implementing a five-year global water management strategy to reduce water consumption, mitigate water-related risks, and enhance operational resilience.

• Identifying and repairing air leaks in compressed-air systems to optimize compressor efficiency and reduce energy use.

• Installing LED lighting, occupancy sensors, daylight-harvesting controls, and other demand-based lighting controls to significantly improve lighting efficiency.

• Optimizing packaging and streamlining freight operations to cut packaging waste and reduce fuel usage.

• Reducing foam scrap, optimizing leather cutting processes, and transitioning to returnable containers to minimize waste sent to the landfill.

• Installing dual-flush toilets, aerators, and water re-use systems and processes to reduce water consumption.

In addition, Adient has set a goal to attribute 100% of the electricity consumed at its manufacturing sites worldwide to renewable sources by 2035.

Several of Adient’s sites already generate renewable electricity on-site via solar panel installations, and roughly 60 Adient sites now consume electricity from a renewable source.

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In addition, Adient has set a goal to attribute 100% of the electricity consumed at its sites worldwide to renewable sources by 2035.

Several of Adient’s sites already generate renewable electricity on-site via solar panel installations, and more than 60 Adient sites now consume electricity from a renewable source.

Sustainability has been an inherent part of product development and innovation at Adient for more than three decades, and customers’ sustainability targets are closely tracked to ensure its efforts align with the needs and goals of its customers.

Sustainability has been an inherent part of product development and innovation at Adient for more than three decades, and Adient closely tracks its customers’ sustainability targets and requirements to ensure its efforts align with their needs and goals.

More recently, vehicle electrification and a general move toward increasingly efficient transportation have emphasized the need for automotive seating products that are lighter, slimmer, and made of more environmentally friendly materials than traditional seating products.

To help meet this need, Adient has developed products such as the Soft Back Panel and Soft Side Valance components, which integrate up to 70% recycled polyethylene terephthalate (“PET”) while improving knee clearance and reducing the weight of each seat by as much as 2 kg.

Adient has also developed an innovative, EV-ready concept seat - the Pure Essential - that combines a high degree of comfort with a sleek appearance while reducing cost, complexity, weight and the seat’s overall carbon footprint.

The Pure Essential seat promotes product circularity by using just two primary eco-friendly material types:

green steel for the seat structure and recyclable polyester for comfort features and trim covers.

To help meet this need, Adient has developed products such as the Soft Back Panel and Soft Side Valance components, which integrate up to 70% recycled polyethylene terephthalate (“PET”) content, and Shell Foam™, which leverages lower-emission polyurethane (“PUR”) foam formulations and recycled polyester.

Adient has also developed Pure Ergonomics — a slim, resource-efficient seat that incorporates sustainable materials such as recycled PET trim, low-carbon recycled PUR foam, and low-emission steel.

The Pure Ergonomics seat achieves a 5% reduction in weight, 46% recycled content, and improved disassembly and recyclability compared to conventional seat models.

Through Adient’s ES 3 (Evolution of Seating Systems Sustainability) approach to product design, Adient is continuously identifying and integrating materials and manufacturing methods that minimize environmental impact and promote a circular economy.

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In fiscal year 2025, Adient continued to expand the use of its proprietary Product Carbon Footprint Tool — data-based software that calculates the carbon footprint of a specific product based on its bill of materials — impacting designer, engineer and customer decisions and supporting its scope 3 emissions-reduction goal.

As noted in Adient’s recently updated Deforestation Commitment and natural resources webpage, Adient is making progress on its commitments in procuring forest risk commodities from more sustainable sources to reduce the impact on deforestation and protect natural habitats globally.

Adient’s Deforestation Commitment and natural resources webpage includes information on Adient’s commitments and progress toward procuring forest risk commodities from more sustainable sources to reduce the impact on deforestation and protect natural habitats globally.

The contents of this webpage are not incorporated into this filing.

Adient continues to work to protect the human rights and well-being of its employees, suppliers, customers and communities in which Adient operates globally and released an updated Human Rights Policy Statement in 2024.

Adient updated its Ethics Policy in 2023 to address evolving laws and regulations, including those regarding sustainability, and in fiscal year 2025, 99% of Adient’s salaried workforce completed Adient’s annual Ethics Policy certification.

Adient also established in 2024 a new global Center of Excellence (“COE”) centrally addressing global supplier compliance and risk management;

Adient also established in 2024 a global Center of Excellence (“COE”) centrally addressing global supplier compliance and risk management;

this COE is dedicated to continuously improving Adient’s processes, procedures and systems for vetting and performing supplier due diligence.

Additionally, Adient is proud to support women-, minority- and veteran-owned businesses by spending more than $1 billion with diverse suppliers every year.

Human Capital Resources

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Adient also provides and encourages many forms of two-way communication such as town hall meetings, engagement surveys, open-door policies and an ethics Integrity Helpline so that employees can hear directly from Adient leadership and have the opportunity to ask questions, make suggestions, raise concerns, and provide input.

Because the attraction, development and retention of the employee base is significant to its business strategy, executive management provides frequent updates on these metrics to the Board of Directors.

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Because the attraction, development and retention of the employee base is significant to its business strategy, executive management provides frequent updates on these topics to the Board of Directors.

Health and Safety

Adient is committed to protecting the safety and well-being of colleagues, customers, suppliers and people using its premises by providing and maintaining a safe working environment that protects both physical and mental well-being.

Adient requires protective equipment, enforces comprehensive safety policies and procedures, and encourages employees and leaders to look regularly for ways to improve workplace safety.

Adient requires protective equipment, enforces comprehensive safety policies and procedures, and encourages employees and leaders to look

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regularly for ways to improve workplace safety.

Adient has implemented and maintains a health and safety management system that is certified to the ISO 45001 Occupational Health and Safety standard.

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Diversity and Inclusion

Adient recognizes diversity and inclusion are essential to the success of our business and that living these values encourages different perspectives, ignites innovation and creativity, increases employee engagement, and strengthens partnerships with our customers, suppliers and stakeholders.

Adient strives to build a culture of diversity and inclusion through purchasing, human resource practices and policies and strives to eliminate discrimination and harassment in all its forms, including but not limited to discrimination against women, minorities and other protected groups.

Adient President and CEO Jerome Dorlack signed the "CEO Action for Diversity & Inclusion" pledge promulgated by the CEO Action for Diversity & Inclusion initiative, the largest CEO-driven business commitment to advance diversity and inclusion in the workplace.

In addition, Adient is a member of the Center for Automotive Diversity, Inclusion and Advancement (“CADIA”).

In fiscal year 2024, Adient updated its Human Rights Policy Statement;

this document — as well as Adient’s Commitment to Diversity, Equity and Inclusion document — emphasize Adient’s commitment to protecting the safety, well-being and human rights of its people while driving a diverse and inclusive work culture.

Guided by its diversity and inclusion vision and mission, Adient developed global focus areas, including developing, engaging, and attracting diverse talent at all levels of the organization, including the leadership level, over the next three years, ensuring there is equity in people and pay practices, and continuing to develop and refine our people metrics.

Adient provides updates to the Board of Directors on diversity initiatives and shares information on initiatives and metrics in its annual sustainability report.

Since success in this area requires listening to diverse voices, Adient established diversity and inclusion councils in each of its three business regions:

1) the Americas, which is inclusive of North America and South America;

2) Europe, the Middle East and Africa (“EMEA”) and 3) Asia Pacific/China (“Asia”).

These councils drive strategic and tactical actions in the areas of talent acquisition and retention, communications and employee feedback, training and education, metrics and key performance indicators, and Adient’s diverse and employee-led business resource groups (“BRGs”).

While the three councils primarily work within their regions, they also communicate and collaborate across regions to ensure alignment and progress toward enterprise-wide diversity and inclusion goals.

Additionally, Adient has periodic global online training for all salaried employees focused on diversity and inclusion.

In addition to frequent workshops and panel discussions, in fiscal year 2024 Adient launched a four-part manager training series facilitated by CADIA.

In 2024, Adient employees launched one new BRG in the Americas region, the Mission*Integrity*Leadership BRG, as well as one new affinity group, the Technology Professionals Society.

These two groups join Adient’s five other Americas BRGs:

Hispanic Origins • Latino Ancestry BRG, African Ancestry BRG, South Asian Community BRG, True Colors Network, and Women’s Resource Network.

Adient continues to develop and refine its initiatives to achieve its diversity and inclusion vision of being a premier employer that champions an inclusive and equitable work culture enriched by diversity, where all employees are valued and respected.

this document emphasizes Adient’s commitment to protecting the safety, well-being and human rights of its people while driving a diverse and inclusive work culture.

Adient provides updates to the Board of Directors on diversity and inclusion initiatives and shares information on initiatives and metrics in its annual sustainability report.

Succession and Talent Development

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Through these programs, Adient is investing in the long-term success of employees, helping them develop skills and leadership acumen based on current needs and in anticipation of future needs.

Adient makes a substantial investment in employee development through its partnership with the University of Michigan’s Ross School of Business.

Through this partnership,

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Adient offers two programs:

Adient Accelerate, a leadership development program for director-level employees that is now in its fourth year, and Adient Leadership and Performance Skills (“ALPS”), a new program in fiscal year 2024.

The ALPS program is targeted to providing mid-level managers the leadership skills and competency to address Adient’s current and future challenges.

In addition to local development programs, Adient makes a substantial investment in employee development through its partnership with the University of Michigan’s Ross School of Business.

Through this partnership, Adient offers two global programs:

Adient Accelerate, a leadership development program for director-level employees that is now in its fourth year, and Adient Leadership and Performance Skills (“ALPS”), a program for mid-level managers.

These programs are thoughtfully curated to build the essential leadership capabilities needed to navigate Adient’s current priorities and future challenges.

Adient's Leadership Talent Review (“LTR”) is its annual process for identifying and evaluating talent for the purposes of aligning individual aspirations and development plans with the organization's needs and building a diverse pipeline of leaders to mitigate leadership vacancy risk.

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Such reports and other information filed by Adient with the SEC are available free of charge on Adient's website at www.adient.com when such reports are available on the SEC's website.

The SEC maintains an internet site that contains reports, proxy and information statements and other information regarding issuers that file electronically with the SEC at www.sec.gov.

The SEC maintains an internet site that contains reports, proxy and information

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statements and other information regarding issuers that file electronically with the SEC at www.sec.gov.

The contents of these websites are not incorporated into this filing.

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Conklin served as Adient’s Vice President, Americas Operations from 2016 to 2022, as well as General Manager of Adient’s Seat Structures and Mechanisms business from 2018 to 2020.

Prior to that, he had various roles of increasing responsibility with Johnson Controls, Inc.,

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including Vice President of Operations and Executive Director, Continuous Improvement and Best Business Practices, as well as leadership positions within Advanced Manufacturing, Lean Manufacturing, Operations and Quality.

Prior to that, he had various roles of increasing responsibility with Johnson Controls, Inc., including Vice President of Operations and Executive Director, Continuous Improvement and Best Business Practices, as well as leadership positions within Advanced Manufacturing, Lean Manufacturing, Operations and Quality.

Dorlack is the President and Chief Executive Officer and a Director of Adient.

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Oswald held various investor relations and finance roles with General Motors, TRW Automotive and Ford Motor Company from 1994 to 2016.

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Smith is the Senior Vice President and Chief Accounting Officer of Adient.

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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.

What changed 10-K

Item 1. Business