Johnson Controls 2015 Annual Report Download - page 99

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99
The following table summarizes the changes in the Company’s 2015 Plan reserve, included within other current liabilities in the
consolidated statements of financial position (in millions):
Employee
Severance and
Termination
Benefits
Long-Lived
Asset
Impairments Other Total
Original Reserve $ 191 $ 183 $ 23 $ 397
Utilized—cash — — — —
Utilized—noncash — (183) — (183)
Balance at September 30, 2015 $ 191 $ — $ 23 $ 214
In fiscal 2014, the Company committed to a significant restructuring plan (2014 Plan) and recorded $324 million of restructuring
and impairment costs in the consolidated statements of income. This is the total amount incurred to date and the total amount
expected to be incurred for this restructuring plan. The restructuring actions related primarily to cost reduction initiatives in the
Company’s Automotive Experience, Building Efficiency and Power Solutions businesses and included workforce reductions, plant
closures, and asset and goodwill impairments. Of the restructuring and impairment costs recorded, $130 million related to the
Automotive Experience Interiors segment, $126 million related to the Building Efficiency Other segment, $29 million related to
the Automotive Experience Seating segment, $16 million related to the Power Solutions segment, $12 million related to the Building
Efficiency North America Systems and Service segment, $7 million related to Corporate and $4 million related to the Building
Efficiency Asia segment. The restructuring actions are expected to be substantially complete in fiscal 2016.
Additionally, the Company recorded $53 million of restructuring and impairment costs within discontinued operations related to
the Automotive Experience Electronics business in fiscal 2014.
The following table summarizes the changes in the Company’s 2014 Plan reserve, included within other current liabilities in the
consolidated statements of financial position (in millions):
Employee
Severance and
Termination
Benefits
Long-Lived
Asset
Impairments Goodwill
Impairment Other Currency
Translation Total
Original Reserve $ 191 $ 134 $ 47 $ 5 $ — $ 377
Utilized—cash (8) — — — — (8)
Utilized—noncash — (134) (47) — (6) (187)
Balance at September 30, 2014 $ 183 $ — $ — $ 5 $ (6) $ 182
Utilized—cash (65) — — (5) — (70)
Utilized—noncash — — — — (13) (13)
Balance at September 30, 2015 $ 118 $ — $ — $ — $ (19) $ 99
In fiscal 2013, the Company committed to a significant restructuring plan (2013 Plan) and recorded $903 million of restructuring
and impairment costs in the consolidated statements of income. This is the total amount incurred to date and the total amount
expected to be incurred for this restructuring plan. The restructuring actions related to cost reduction initiatives in the Company’s
Automotive Experience, Building Efficiency and Power Solutions businesses and included workforce reductions, plant closures,
and asset and goodwill impairments. Of the restructuring and impairment costs recorded, $560 million related to the Automotive
Experience Interiors segment, $152 million related to the Automotive Experience Seating segment, $95 million related to the
Building Efficiency Other segment, $38 million related to the Building Efficiency North America Systems and Service segment,
$36 million related to the Power Solutions segment, $17 million related to Corporate and $5 million related to the Building
Efficiency Asia segment. The restructuring actions are expected to be substantially complete in fiscal 2016.
Additionally, the Company recorded $82 million of restructuring costs within discontinued operations, of which $54 million related
to the GWS business and $28 million related to the Automotive Experience Electronics business in fiscal 2013.