Johnson Controls International plc 10-Q10-Q

Financial Statements (unaudited)

ITEM 1. FINANCIAL STATEMENTS Johnson Controls International plc Consolidated Statements of Financial Position (in millions, except par value; unaudited) June 30, 2022 September 30, 2021 Assets Cash and cash equivalents $ 1,506 $ 1,336 Accounts receivable - net 5,850 5,613 Inventories 2,574 2,057 Current assets held for sale 394 — Other current assets 1,235 992 Current assets 11,559 9,998 Property, plant and equipment - net 2,962 3,228 Goodwill 17,725 18,335 Other intangible assets - net 4,764 5,549 Investments in partially-owned affiliates 1,070 1,066 Noncurrent assets held for sale 892 156 Other noncurrent assets 3,352 3,558 Total assets $ 42,324 $ 41,890 Liabilities and Equity Short-term debt $ 2,081 $ 8 Current portion of long-term debt 217 226 Accounts payable 4,125 3,746 Accrued compensation and benefits 874 1,008 Deferred revenue 1,846 1,637 Current liabilities held for sale 261 — Other current liabilities 2,479 2,473 Current liabilities 11,883 9,098 Long-term debt 7,194 7,506 Pension and postretirement benefits 532 628 Noncurrent liabilities held for sale 49 — Other noncurrent liabilities 5,523 5,905 Long-term liabilities 13,298 14,039 Commitments and contingencies (Note 22) Ordinary shares, $ 0.01 par value 7 7 Ordinary A shares, € 1.00 par value — — Preferred shares, $ 0.01 par value — — Ordinary shares held in treasury, at cost ( 1,201 ) ( 1,152 ) Capital in excess of par value 17,199 17,116 Retained earnings 645 2,025 Accumulated other comprehensive loss ( 662 ) ( 434 ) Shareholders’ equity attributable to Johnson Controls 15,988 17,562 Noncontrolling interests 1,155 1,191 Total equity 17,143 18,753 Total liabilities and equity $ 42,324 $ 41,890 The accompanying notes are an integral part of the consolidated financial statements. 3 Johnson Controls International plc Consolidated Statements of Income (in millions, except per share data; unaudited) Three Months Ended June 30, Nine Months Ended June 30, 2022 2021 2022 2021 Net sales Products and systems $ 5,082 $ 4,700 $ 14,119 $ 12,531 Services 1,532 1,641 4,455 4,745 6,614 6,341 18,574 17,276 Cost of sales Products and systems 3,549 3,185 9,996 8,655 Services 865 959 2,530 2,753 4,414 4,144 12,526 11,408 Gross profit 2,200 2,197 6,048 5,868 Selling, general and administrative expenses ( 1,589 ) ( 1,367 ) ( 4,412 ) ( 3,914 ) Restructuring and impairment costs ( 121 ) ( 79 ) ( 554 ) ( 175 ) Net finan