Johnson Controls 2012 Annual Report Download - page 19

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19
The Company accrues for potential environmental liabilities in a manner consistent with accounting principles
generally accepted in the United States; that is, when it is probable a liability has been incurred and the amount of
the liability is reasonably estimable. Reserves for environmental liabilities totaled $25 million and $30 million at
September 30, 2012 and 2011, respectively. The Company reviews the status of its environmental sites on a
quarterly basis and adjusts its reserves accordingly. Such potential liabilities accrued by the Company do not take
into consideration possible recoveries of future insurance proceeds. They do, however, take into account the likely
share other parties will bear at remediation sites. It is difficult to estimate the Company's ultimate level of liability at
many remediation sites due to the large number of other parties that may be involved, the complexity of determining
the relative liability among those parties, the uncertainty as to the nature and scope of the investigations and
remediation to be conducted, the uncertainty in the application of law and risk assessment, the various choices and
costs associated with diverse technologies that may be used in corrective actions at the sites, and the often quite
lengthy periods over which eventual remediation may occur. Nevertheless, the Company does not currently believe
that any claims, penalties or costs in connection with known environmental matters will have a material adverse
effect on the Company's financial position, results of operations or cash flows. In addition, the Company has
identified asset retirement obligations for environmental matters that are expected to be addressed at the retirement,
disposal, removal or abandonment of existing owned facilities, primarily in the Power Solutions business. At
September 30, 2012 and 2011, the Company recorded conditional asset retirement obligations of $76 million and
$91 million, respectively.
The Company is involved in a number of product liability and various other casualty lawsuits incident to the
operation of its businesses. The Company maintains insurance coverages and records estimated costs for claims and
suits of this nature. It is management's opinion that none of these will have a material adverse effect on the
Company's financial position, results of operations or cash flows. Costs related to such matters were not material to
the periods presented.
ITEM 4 MINE SAFETY DISCLOSURES
Not applicable.
EXECUTIVE OFFICERS OF THE REGISTRANT
Pursuant to General Instruction G(3) of Form 10-K, the following list of executive officers of the Company as of
November 14, 2012 is included as an unnumbered Item in Part I of this report in lieu of being included in the
Company’s Proxy Statement relating to the Annual Meeting of Shareholders to be held on January 23, 2013.
Beda Bolzenius, 56, was elected a Corporate Vice President in November 2005 and has served as President –
Automotive Seating since October 2012. He previously served as President of the Automotive Experience
business from November 2005 to October 2012 and as Executive Vice President and General Manager Europe,
Africa and South America for Automotive Experience from November 2004 to November 2005. Dr. Bolzenius
joined the Company in November 2004 from Robert Bosch GmbH, a global manufacturer of automotive and
industrial technology, consumer goods and building technology, where he most recently served as the president
of Bosch’s Body Electronics division.
Colin Boyd, 53, was elected Vice President, Information Technology and Chief Information Officer in
October 2008. Mr. Boyd previously served as Chief Information Officer and Corporate Vice President of Sony
Ericsson from 2002 to 2008.
Susan F. Davis, 59, was elected Executive Vice President of Human Resources in September 2006. She
previously served as Vice President of Human Resources from May 1994 to September 2006 and as Vice
President of Organizational Development for the Automotive Experience business from August 1993 to April
1994. Ms. Davis joined the Company in 1983.
Charles A. Harvey, 60, was elected Corporate Vice President of Diversity and Public Affairs in November
2005. He previously served as Vice President of Human Resources for the Automotive Experience business and
in other human resources leadership positions. Mr. Harvey joined the Company in 1991.
William C. Jackson, 52, was elected Executive Vice President – Operations and Innovation, in July 2011 and
has served as President – Automotive Electronics & Interiors since October 2012. Prior to joining Johnson
Controls, Mr. Jackson was Vice President and President of Automotive at Sears Holdings Corporation from 2009
to 2010. Prior to that, he served as Senior Vice President and board member of Booz, Allen & Hamilton and