FY 2017 First Quarter Earnings Call
Cash and capital structure summary
12
ADIENT
> Cash and cash equivalents of $709M at
December 31, 2016
-
-
Capital expenditures totaled $207M in FY17 Q1
compared to $108M a year ago.
At December 31, 2016, total gross debt and net
debt of $3,461M and $2,752M, respectively
- Net leverage at December 31, 2016 of 1.76x,
down from 1.95x at September 30, 2016
Capitalization detail
($ in millions)
$ Amount
Coupon
Cash & cash equivalents
$709
Revolving credit facility ($1.5B) due 2021
Term loan A due 2021
1,500
LIBOR +175
> Near-term capital deployment plan on-track
- Reinvest in the business for growth (profitable
growth)
Senior unsecured notes (EUR) due 2024
Senior unsecured notes (USD) due 2026
Other debt
1,052
3.500%
900
4.875%
51
Debt issuance cost
(42)
-
Rapid de-leveraging
Establish quarterly dividend in-line with peers
(H2FY17)
Total debt
$3,461
Net debt1
$2,752
Q1 2017 Earnings / February 2017
Adient - Improving the experience of a world in motion
1 See appendix for detail and reconciliation to U.S. GAAPView entire presentation