Johnson Controls 2013 Annual Report Download - page 103

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Temporary differences and carryforwards which gave rise to deferred tax assets and liabilities included (in millions):
September 30,
2013 2012
Deferred tax assets
Accrued expenses and reserves $ 439 $ 488
Employee and retiree benefits 173 444
Net operating loss and other credit carryforwards 2,752 2,582
Research and development 146 79
3,510 3,593
Valuation allowances (1,172)(766)
2,338 2,827
Deferred tax liabilities
Property, plant and equipment 128 119
Intangible assets 196 349
Other 160 163
484 631
Net deferred tax asset $ 1,854 $ 2,196
Note that the above tables exclude the amounts of deferred tax assets and liabilities for fiscal 2013 that have been transferred to
assets held for sale and liabilities held for sale within the consolidated statement of financial position.
At September 30, 2013, the Company had available net operating loss carryforwards of approximately $5.0 billion, of which $2.1
billion will expire at various dates between 2014 and 2032, and the remainder has an indefinite carryforward period. The Company
had available U.S. foreign tax credit carryforwards at September 30, 2013 of $900 million, which will expire at various dates
between 2016 and 2022. The valuation allowance, generally, is for loss carryforwards for which realization is uncertain because
it is unlikely that the losses will be realized given the lack of sustained profitability and/or limited carryforward periods in certain
countries.
19. SEGMENT INFORMATION
Effective October 1, 2012, the Company reorganized the reportable segments within its Automotive Experience business to align
with its new management reporting structure and business activities. Prior to this reorganization, Automotive Experience was
comprised of three reportable segments for financial reporting purposes: North America, Europe and Asia. As a result of this
change, Automotive Experience is now comprised of three new reportable segments for financial reporting purposes: Seating,
Interiors and Electronics. Historical information has been revised to reflect the new Automotive Experience reportable segment
structure.
ASC 280, “Segment Reporting,” establishes the standards for reporting information about segments in financial statements. In
applying the criteria set forth in ASC 280, the Company has determined that it has nine reportable segments for financial reporting
purposes. The Company’s nine reportable segments are presented in the context of its three primary businesses - Building Efficiency,
Automotive Experience and Power Solutions.
Building Efficiency
Building Efficiency designs, produces, markets and installs heating, ventilating and air conditioning (HVAC) and control systems
that monitor, automate and integrate critical building segment equipment and conditions including HVAC, fire-safety and security
in commercial buildings and in various industrial applications.
• North America Systems designs, produces, markets and installs mechanical equipment that provides heating and cooling
in North American non-residential buildings and industrial applications as well as control systems that integrate the
operation of this equipment with other critical building systems.