Johnson Controls 2013 Annual Report Download - page 76

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76
During the quarter ended September 30, 2013, the Company retired $300 million in principal amount, plus accrued interest, of its
4.875% fixed rate notes that matured September 2013. The Company used cash to fund the payment.
During the quarter ended September 30, 2013, the Company made a partial repayment of 43 million euro, plus accrued interest,
of its 100 million euro floating rate credit facility scheduled to mature in February 2017. The Company used cash to fund the
payment.
During the quarter ended December 31, 2012, a $35 million and a $100 million committed revolving credit facility expired. The
Company entered into a new $35 million committed revolving credit facility scheduled to expire in November 2013 and a new
$100 million committed revolving credit facility scheduled to expire in December 2013. As of September 30, 2013, there were no
draws on either facility.
During the quarter ended December 31, 2012, the Company entered into a five-year, 70 million euro, floating rate credit facility
scheduled to mature in fiscal 2018. The Company drew on the credit facility during the quarter ended December 31, 2012. Proceeds
from the facility were used for general corporate purposes.
During the quarter ended December 31, 2012, the Company retired $100 million in principal amount, plus accrued interest, of its
5.8% fixed rate notes that matured November 2012. The Company used cash to fund the payment.
During the quarter ended March 31, 2012, the Company remarketed $46 million aggregate principal amount of 11.5% subordinated
notes due in fiscal 2042, on behalf of holders of Corporate Units and holders of separate notes, by issuing $46 million aggregate
principal amount of 2.355% senior notes due on March 31, 2017.
During the quarter ended December 31, 2011, the Company issued $400 million aggregate principal amount of 2.6% senior
unsecured fixed rate notes due in fiscal 2017, $450 million aggregate principal amount of 3.75% senior unsecured fixed rate notes
due in fiscal 2022 and $250 million aggregate principal amount of 5.25% senior unsecured fixed rate notes due in fiscal 2042.
Aggregate net proceeds of $1.1 billion from the issuances were used for general corporate purposes, including the retirement of
short-term debt and contributions to the Company’s pension and postretirement plans.
During the quarter ended December 31, 2011, the Company entered into a five-year, 75 million euro, floating rate credit facility
scheduled to mature in fiscal 2017. The Company drew on the credit facility during the quarter ended March 31, 2012. Proceeds
from the facility were used for general corporate purposes.
Net Financing Charges
The Company's net financing charges line item in the consolidated statements of income for the years ended September 30, 2013,
2012 and 2011 contained the following components (in millions):
Year Ended September 30,
2013 2012 2011
Interest expense, net of capitalized interest costs $ 256 $ 239 $ 186
Banking fees and bond cost amortization 21 21 27
Interest income (19)(17)(8)
Net foreign exchange results for financing activities (10)(10)(31)
Net financing charges $ 248 $ 233 $ 174