Johnson Controls 2013 Annual Report Download - page 3

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CAUTIONARY STATEMENTS FOR FORWARD-LOOKING INFORMATION
Unless otherwise indicated, references to “Johnson Controls,” the “Company,” “we,” “our” and “us” in this Annual Report on
Form 10-K refer to Johnson Controls, Inc. and its consolidated subsidiaries.
The Company has made statements in this document that are forward-looking and, therefore, are subject to risks and uncertainties.
All statements in this document other than statements of historical fact are statements that are, or could be, deemed "forward-
looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. In this document, statements
regarding future financial position, sales, costs, earnings, cash flows, other measures of results of operations, capital expenditures
or debt levels and plans, objectives, outlook, targets, guidance or goals are forward-looking statements. Words such as “may,”
“will,” “expect,” “intend,” “estimate,” “anticipate,” “believe,” “should,” “forecast,” “project” or “plan” or terms of similar meaning
are also generally intended to identify forward-looking statements. Johnson Controls cautions that these statements are subject to
numerous important risks, uncertainties, assumptions and other factors, some of which are beyond Johnson Controls' control, that
could cause Johnson Controls' actual results to differ materially from those expressed or implied by such forward-looking statements.
A detailed discussion of risks is included in the section entitled "Risk Factors" (refer to Part I, Item IA, of this Annual Report on
Form 10-K). The forward-looking statements included in this document are only made as of the date of this document, unless
otherwise specified, and Johnson Controls assumes no obligation, and disclaims any obligation, to update forward-looking
statements to reflect events or circumstances occurring after the date of this document.
PART I
ITEM 1 BUSINESS
General
Johnson Controls is a global diversified technology and industrial leader serving customers in more than 150 countries. The
Company creates quality products, services and solutions to optimize energy and operational efficiencies of buildings; lead-acid
automotive batteries and advanced batteries for hybrid and electric vehicles; and interior systems for automobiles.
Johnson Controls was originally incorporated in the state of Wisconsin in 1885 as Johnson Electric Service Company to manufacture,
install and service automatic temperature regulation systems for buildings. The Company was renamed to Johnson Controls, Inc.
in 1974. In 1978, the Company acquired Globe-Union, Inc., a Wisconsin-based manufacturer of automotive batteries for both the
replacement and original equipment markets. The Company entered the automotive seating industry in 1985 with the acquisition
of Michigan-based Hoover Universal, Inc. In 2005, the Company acquired York International, a global supplier of heating,
ventilating, air-conditioning and refrigeration equipment and services.
The Building Efficiency business is a global market leader in designing, producing, marketing and installing integrated heating,
ventilating and air conditioning (HVAC) systems, building management systems, controls, security and mechanical equipment.
In addition, the Building Efficiency business provides technical services, energy management consulting and operations of entire
real estate portfolios for the non-residential buildings market. The Company also provides residential air conditioning and heating
systems and industrial refrigeration products.
The Automotive Experience business is one of the world’s largest automotive suppliers, providing innovative interior systems
through our design and engineering expertise. The Company’s technologies extend into virtually every area of the interior including
seating and overhead systems, door systems, floor consoles, instrument panels, cockpits and integrated electronics. Customers
include most of the world’s major automakers.
The Power Solutions business is a leading global supplier of lead-acid automotive batteries for virtually every type of passenger
car, light truck and utility vehicle. The Company serves both automotive original equipment manufacturers (OEMs) and the general
vehicle battery aftermarket. The Company also supplies advanced battery technologies to power certain Start-Stop vehicles, hybrid
and electric vehicles.
Financial Information About Business Segments
Accounting Standards Codification (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.