Johnson Controls 2015 Annual Report Download - page 77

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77
In September 2015, the Company retired, at maturity, $500 million, $150 million and $100 million floating rate term loans plus
accrued interest that were entered into during fiscal 2015.
In June 2015, the Company entered into a five-year, 37 billion yen floating rate syndicated term loan scheduled to mature in June
2020. Proceeds from the syndicated term loan were used for general corporate purposes.
In May 2015, the Company made a partial repayment of 32 million euro in principal, plus accrued interest, of its 70 million euro
floating rate credit facility scheduled to mature in November 2017.
In March 2015, the Company retired $125 million in principal amount, plus accrued interest, of its 7.7% fixed rate notes that
matured in March 2015.
In January 2015, the Company entered into a one-year, $90 million, committed revolving credit facility scheduled to mature in
January 2016. The Company drew on the full credit facility during the quarter ended March 31, 2015. Proceeds from the revolving
credit facility were used for general corporate purposes. The $90 million was repaid in September 2015.
In September 2014, the Company retired a $500 million, floating rate term loan plus accrued interest that matured in September
2014. The Company also retired a $150 million, floating rate term loan plus accrued interest initially scheduled to mature in January
2015.
In June 2014, the Company issued $300 million aggregate principal amount of 1.4% senior unsecured fixed rate notes due in
November 2017, $500 million aggregate principal amount of 3.625% senior unsecured fixed rate notes due in June 2024, $450
million aggregate principal amount of 4.625% senior unsecured fixed rate notes due in July 2044 and $450 million aggregate
principal amount of 4.95% senior unsecured fixed rate notes due in July 2064. Aggregate net proceeds of $1.7 billion from the
issuance were used to finance the acquisition of ADT and for other general corporate purposes. Refer to Note 2, "Acquisitions and
Divestitures," of the notes to consolidated financial statements for further information regarding the ADT acquisition.
In March 2014, the Company entered into a nine-month, $150 million, floating rate term loan scheduled to mature in December
2014. Proceeds from the term loan were used for general corporate purposes. The loan was repaid during the quarter ended June
30, 2014.
In March 2014, the Company retired $450 million in principal amount, plus accrued interest, of its 1.75% fixed rate notes that
matured March 2014.
In February 2014, the Company retired $350 million in principal amount, plus accrued interest, of its floating rate notes that
matured February 2014.
In December 2013, the Company entered into a five-year, 220 million euro, floating rate credit facility scheduled to mature in
fiscal 2018. The Company drew on the full credit facility during the quarter ended December 31, 2013. Proceeds from the facility
were used for general corporate purposes.
Net Financing Charges
The Company's net financing charges line item in the consolidated statements of income for the years ended September 30, 2015,
2014 and 2013 contained the following components (in millions):
Year Ended September 30,
2015 2014 2013
Interest expense, net of capitalized interest costs $ 288 $ 254 $ 255
Banking fees and bond cost amortization 23 18 21
Interest income (9)(10)(19)
Net foreign exchange results for financing activities (14)(18)(10)
Net financing charges $ 288 $ 244 $ 247