Johnson Controls 2013 Annual Report Download - page 54

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54
Johnson Controls, Inc.
Consolidated Statements of Income
Year Ended September 30,
(in millions, except per share data) 2013 2012 2011
Net sales
Products and systems* $ 34,412 $ 33,561 $ 32,420
Services* 8,318 8,394 8,413
42,730 41,955 40,833
Cost of sales
Products and systems* 29,196 28,909 27,674
Services* 6,756 6,898 7,100
35,952 35,807 34,774
Gross profit 6,778 6,148 6,059
Selling, general and administrative expenses (3,965)(4,478)(4,393)
Gain on business divestitures - net 483 40 —
Restructuring and impairment costs (985)(297) —
Net financing charges (248)(233)(174)
Equity income 402 340 298
Income before income taxes 2,465 1,520 1,790
Provision for income taxes 1,168 209 258
Net income 1,297 1,311 1,532
Income attributable to noncontrolling interests 119 127 117
Net income attributable to Johnson Controls, Inc. $ 1,178 $ 1,184 $ 1,415
Earnings per share
Basic $ 1.72 $ 1.74 $ 2.09
Diluted $ 1.71 $ 1.72 $ 2.06
* Products and systems consist of Automotive Experience and Power Solutions products and systems and Building
Efficiency installed systems. Services are Building Efficiency technical and Global Workplace Solutions.
The accompanying notes are an integral part of the financial statements.