Johnson Controls 2014 Annual Report Download - page 32

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32
Income from Continuing Operations Attributable to Noncontrolling Interests
Year Ended
September 30,
(in millions) 2014 2013 Change
Income from continuing operations attributable
to noncontrolling interests $ 120 $ 114 5%
The increase in income from continuing operations attributable to noncontrolling interests for fiscal 2014 was primarily due to
higher income at certain Automotive Experience and Building Efficiency partially-owned affiliates, partially offset by lower income
at certain Power Solutions partially-owned affiliates and the effects of an increase in ownership percentage in a Power Solutions
partially-owned affiliate.
Net Income Attributable to Johnson Controls, Inc.
Year Ended
September 30,
(in millions) 2014 2013 Change
Net income attributable to Johnson Controls, Inc. $ 1,215 $ 1,178 3%
The increase in net income attributable to Johnson Controls, Inc. was primarily due to lower restructuring and impairment costs,
a decrease in the income tax provision and higher gross profit, partially offset by higher selling, general and administrative expenses,
a loss from discontinued operations, and a loss on business divestitures. Fiscal 2014 diluted earnings per share attributable to
Johnson Controls, Inc. was $1.80 compared to $1.71 in fiscal 2013.
Segment Analysis
Management evaluates the performance of its business units based primarily on segment income, which is defined as income from
continuing operations before income taxes and noncontrolling interests excluding net financing charges, significant restructuring
and impairment costs, and net mark-to-market adjustments on pension and postretirement plans.
Building Efficiency
Net Sales
for the Year Ended
September 30,
Segment Income
for the Year Ended
September 30,
(in millions) 2014 2013 Change 2014 2013 Change
North America Systems and Service $ 4,336 $ 4,492 -3% $ 455 $ 506 -10%
Global Workplace Solutions 4,079 4,265 -4% 95 113 -16%
Asia 2,069 2,022 2% 336 277 21%
Other 3,680 3,812 -3% 44 88 -50%
$ 14,164 $ 14,591 -3% $ 930 $ 984 -5%
Net Sales:
• The decrease in North America Systems and Service was due to lower volumes of equipment, controls systems and energy
solutions ($132 million), and the unfavorable impact of foreign currency translation ($24 million).
• The decrease in Global Workplace Solutions was due to lost customer accounts and lower project work ($264 million),
partially offset by incremental sales from a prior year business acquisition ($66 million) and the favorable impact of
foreign currency translation ($12 million).
• The increase in Asia was due to higher volumes of equipment and controls systems ($74 million), and higher service
volumes ($24 million), partially offset by the unfavorable impact of foreign currency translation ($51 million).
• The decrease in Other was due to lower volumes related to a prior period business divestiture ($225 million), and lower
volumes in the Middle East ($156 million), Latin America ($58 million) and Europe ($28 million), partially offset by