Johnson Controls 2013 Annual Report Download - page 30

Download and view the complete annual report

Please find page 30 of the 2013 Johnson Controls annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 117

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108
  • 109
  • 110
  • 111
  • 112
  • 113
  • 114
  • 115
  • 116
  • 117

30
Income Attributable to Noncontrolling Interests
Year Ended
September 30,
(in millions) 2013 2012 Change
Income attributable to noncontrolling interests $ 119 $ 127 -6%
The decrease in income attributable to noncontrolling interests was primarily due to the effects of an increase in the Company's
ownership percentage in an Automotive Experience partially-owned affiliate.
Net Income Attributable to Johnson Controls, Inc.
Year Ended
September 30,
(in millions) 2013 2012 Change
Net income attributable to Johnson Controls, Inc. $ 1,178 $ 1,184 -1%
The decrease in net income attributable to Johnson Controls, Inc. was primarily due to higher restructuring and impairment costs,
higher net financing charges, an increase in the provision for income taxes and the unfavorable impact of foreign currency translation,
partially offset by higher gross profit, lower selling, general and administrative expenses, incremental gains on business divestitures
net of transaction costs, higher equity income and lower income attributable to noncontrolling interests. Fiscal 2013 diluted earnings
per share was $1.71 compared to prior year’s diluted earnings per share of $1.72.
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) 2013 2012 Change 2013 2012 Change
North America Systems $ 2,362 $ 2,389 -1% $ 279 $ 286 -2%
North America Service 2,130 2,145 -1% 228 164 39%
Global Workplace Solutions 4,265 4,294 -1% 114 52 *
Asia 2,022 1,987 2% 278 267 4%
Other 3,812 3,900 -2% 89 141 -37%
$ 14,591 $ 14,715 -1% $ 988 $ 910 9%
* Measure not meaningful
Net Sales:
• The decrease in North America Systems was due to lower volumes of equipment and controls systems in the commercial
construction and replacement markets ($25 million), and the unfavorable impact of foreign currency translation ($2
million).
• The decrease in North America Service was due to a reduction in truck-based volumes ($46 million) and the unfavorable
impact of foreign currency translation ($1 million), partially offset by higher energy solutions volumes ($32 million).
• The decrease in Global Workplace Solutions was due to a net decrease in services to new and existing customers ($109
million) and the unfavorable impact of foreign currency translation ($26 million), partially offset by incremental sales
from a business acquisition ($106 million).