Johnson Controls 2015 Annual Report Download - page 54

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54
QUARTERLY FINANCIAL DATA
Previously reported quarterly amounts have been revised to reflect the retrospective application of the classification of the GWS
segment as a discontinued operation. Refer to Note 3, "Discontinued Operations," of the notes to consolidated financial statements
for additional details.
(in millions, except per share data)
(unaudited) First
Quarter Second
Quarter Third
Quarter Fourth
Quarter Full
Year
2015
Net sales $ 9,624 $ 9,198 $ 9,608 $ 8,749 $ 37,179
Gross profit 1,609 1,573 1,706 1,559 6,447
Net income (1) 546 557 207 369 1,679
Net income attributable to Johnson
Controls, Inc. 507 529 178 349 1,563
Earnings per share
Basic 0.77 0.81 0.27 0.54 2.39
Diluted 0.76 0.80 0.27 0.53 2.36
2014
Net sales $ 9,497 $ 9,467 $ 9,833 $ 9,952 $ 38,749
Gross profit 1,506 1,472 1,580 1,747 6,305
Net income (2) 505 293 199 346 1,343
Net income attributable to Johnson
Controls, Inc. 469 261 176 309 1,215
Earnings per share (3)
Basic 0.70 0.39 0.26 0.46 1.82
Diluted 0.69 0.39 0.26 0.46 1.80
(1) The fiscal 2015 first quarter net income includes $20 million for transaction and integration costs. The fiscal 2015 second
quarter net income includes $28 million for transaction and integration costs, and a $200 million gain on divestiture of two
GWS joint ventures within discontinued operations. The fiscal 2015 third quarter net income includes $48 million for
transaction, integration, and separation costs. The fiscal 2015 fourth quarter net income includes $422 million of net mark-
to-market losses on pension and postretirement plans, $397 million of significant restructuring and impairment costs, a
$145 million gain on divestiture of the Interiors business, $82 million for transaction, integration and separation costs, and
a $940 million gain on the divestiture of GWS within discontinued operations. The preceding amounts are stated on a pre-
tax basis.
(2) The fiscal 2014 third quarter net income includes $162 million of significant restructuring and impairment costs, a $95
million loss on business divestiture, divestitures-related losses of $105 million within discontinued operations, and $20
million for transaction and integration costs. The fiscal 2014 fourth quarter net income includes $274 million of net mark-
to-market losses on pension and postretirement plans, $162 million of significant restructuring and impairment costs, $23
million for transaction and integration costs, and a $16 million pension settlement loss. The preceding amounts are stated
on a pre-tax basis.
(3) Due to the use of the weighted-average shares outstanding for each quarter for computing earnings per share, the sum of
the quarterly per share amounts may not equal the per share amount for the year.
ITEM 7A QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK
See "Risk Management" included in Item 7 - Management’s Discussion and Analysis of Financial Condition and Results of
Operations.