Document and Entity Information
Document and Entity Information | 3 Months Ended |
Dec. 31, 2017shares | |
Document and Entity Information [Abstract] | |
Entity Registrant Name | JOHNSON CONTROLS INTERNATIONAL PLC |
Entity Central Index Key | 833,444 |
Current Fiscal Year End Date | --09-30 |
Entity Filer Category | Large Accelerated Filer |
Document Type | 10-Q |
Document Period End Date | Dec. 31, 2017 |
Document Fiscal Year Focus | 2,018 |
Document Fiscal Period Focus | Q1 |
Trading Symbol | JCI |
Amendment Flag | false |
Entity Common Stock, Shares Outstanding | 926,105,380 |
Consolidated Statements of Fina
Consolidated Statements of Financial Position - USD ($) $ in Millions | Dec. 31, 2017 | Sep. 30, 2017 |
Assets | ||
Cash and cash equivalents | $ 552 | $ 321 |
Accounts receivable - net | 6,731 | 6,666 |
Inventories | 3,459 | 3,209 |
Assets held for sale | 40 | 189 |
Other current assets | 1,647 | 1,907 |
Current assets | 12,429 | 12,292 |
Property, plant and equipment - net | 6,105 | 6,121 |
Goodwill | 19,717 | 19,688 |
Other intangible assets - net | 6,657 | 6,741 |
Investments in partially-owned affiliates | 1,219 | 1,191 |
Noncurrent assets held for sale | 0 | 1,920 |
Other noncurrent assets | 3,640 | 3,931 |
Total assets | 49,767 | 51,884 |
Liabilities and Equity | ||
Short-term debt | 1,514 | 1,214 |
Current portion of long-term debt | 91 | 394 |
Accounts payable | 4,020 | 4,271 |
Accrued compensation and benefits | 883 | 1,071 |
Deferred revenue | 1,368 | 1,279 |
Liabilities held for sale | 0 | 72 |
Other current liabilities | 3,370 | 3,553 |
Current liabilities | 11,246 | 11,854 |
Long-term debt | 10,895 | 11,964 |
Pension and postretirement benefits | 896 | 947 |
Noncurrent liabilities held for sale | 0 | 173 |
Other noncurrent liabilities | 5,004 | 5,368 |
Long-term liabilities | 16,795 | 18,452 |
Commitments and contingencies (Note 21) | ||
Redeemable noncontrolling interests | 226 | 211 |
Ordinary shares, $0.01 par value | 9 | 9 |
Ordinary A shares, €1.00 par value | 0 | 0 |
Preferred shares, $0.01 par value | 0 | 0 |
Ordinary shares held in treasury, at cost | (885) | (710) |
Capital in excess of par value | 16,427 | 16,390 |
Retained earnings | 5,398 | 5,231 |
Accumulated other comprehensive loss | (414) | (473) |
Shareholders' equity attributable to Johnson Controls | 20,535 | 20,447 |
Noncontrolling interests | 965 | 920 |
Total equity | 21,500 | 21,367 |
Total liabilities and equity | $ 49,767 | $ 51,884 |
Consolidated Statements of Fin3
Consolidated Statements of Financial Position (Parenthetical) | Dec. 31, 2017€ / shares | Dec. 31, 2017$ / shares | Sep. 30, 2017€ / shares | Sep. 30, 2017$ / shares |
Ordinary shares, par value | $ 0.01 | $ 0.01 | ||
Preferred shares, par value | $ 0.01 | $ 0.01 | ||
Common Class A [Member] | ||||
Ordinary shares, par value | € / shares | € 1 | € 1 |
Consolidated Statements of Inco
Consolidated Statements of Income - USD ($) $ in Millions | 3 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | ||
Net sales | |||
Products and systems | [1] | $ 5,946 | $ 5,585 |
Services | [1] | 1,489 | 1,501 |
Net sales | 7,435 | 7,086 | |
Cost of sales | |||
Products and systems | [1] | 4,449 | 4,063 |
Services | [1] | 817 | 909 |
Cost of sales | 5,266 | 4,972 | |
Gross profit | 2,169 | 2,114 | |
Selling, general and administrative expenses | (1,417) | (1,570) | |
Restructuring and impairment costs | (158) | (78) | |
Net financing charges | (116) | (136) | |
Equity income | 60 | 55 | |
Income from continuing operations before income taxes | 538 | 385 | |
Income tax provision (benefit) | 267 | (27) | |
Income from continuing operations | 271 | 412 | |
Loss from discontinued operations, net of tax (Note 4) | 0 | (34) | |
Net income | 271 | 378 | |
Income from continuing operations attributable to noncontrolling interests | 41 | 40 | |
Income from discontinued operations attributable to noncontrolling interests | 0 | 9 | |
Net income attributable to Johnson Controls | 230 | 329 | |
Amounts attributable to Johnson Controls ordinary shareholders | |||
Income from continuing operations | 230 | 372 | |
Loss from discontinued operations | $ 0 | $ (43) | |
Earnings (loss) per share | |||
Basic earnings per share from continuing operations | $ 0.25 | $ 0.40 | |
Basic earnings (loss) per share from discontinued operations | 0 | (0.05) | |
Basic earnings per share | [2] | 0.25 | 0.35 |
Diluted earnings per share from continuing operations | 0.25 | 0.39 | |
Diluted earnings (loss) per share from discontinued operations | 0 | (0.05) | |
Diluted earnings per share | [2] | $ 0.25 | $ 0.35 |
[1] | Products and systems consist of Building Technologies & Solutions and Power Solutions products and systems. Services are Building Technologies & Solutions technical services. | ||
[2] | Certain items do not sum due to rounding |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Income (Loss) - USD ($) $ in Millions | 3 Months Ended | |
Dec. 31, 2017 | Dec. 31, 2016 | |
Statement of Comprehensive Income [Abstract] | ||
Net income | $ 271 | $ 378 |
Other comprehensive income (loss), net of tax | ||
Foreign currency translation adjustments | 79 | (703) |
Realized and unrealized gains (losses) on derivatives | (1) | 4 |
Realized and unrealized losses on marketable securities | 0 | (2) |
Other comprehensive income (loss) | 78 | (701) |
Total comprehensive income (loss) | 349 | (323) |
Comprehensive income attributable to noncontrolling interests | 60 | 9 |
Comprehensive income (loss) attributable to Johnson Controls | $ 289 | $ (332) |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows - USD ($) $ in Millions | 3 Months Ended | |
Dec. 31, 2017 | Dec. 31, 2016 | |
Operating Activities | ||
Net income attributable to Johnson Controls | $ 230 | $ 329 |
Income from continuing operations attributable to noncontrolling interests | 41 | 40 |
Income from discontinued operations attributable to noncontrolling interests | 0 | 9 |
Net income | 271 | 378 |
Adjustments to reconcile net income to cash used by operating activities: | ||
Depreciation and amortization | 272 | 346 |
Pension and postretirement benefit income | (36) | (155) |
Pension and postretirement contributions | (24) | (247) |
Equity in earnings of partially-owned affiliates, net of dividends received | (36) | (64) |
Deferred income taxes | (79) | 580 |
Non-cash restructuring and impairment charges | 30 | 16 |
Gain on divestitures | (114) | 0 |
Equity-based compensation | 30 | 37 |
Other | (13) | 0 |
Changes in assets and liabilities, excluding acquisitions and divestitures: | ||
Accounts receivable | (30) | 37 |
Inventories | (233) | (142) |
Other assets | 64 | (87) |
Restructuring reserves | 93 | 20 |
Accounts payable and accrued liabilities | (623) | (796) |
Accrued income taxes | 299 | (1,808) |
Cash used by operating activities | (129) | (1,885) |
Investing Activities | ||
Capital expenditures | (230) | (371) |
Sale of property, plant and equipment | 5 | 2 |
Acquisition of businesses, net of cash acquired | 0 | (3) |
Business divestitures | 2,011 | 47 |
Changes in long-term investments | (12) | (6) |
Cash provided (used) by investing activities | 1,774 | (331) |
Financing Activities | ||
Increase in short-term debt - net | 304 | 1,312 |
Increase in long-term debt | 885 | 7 |
Repayment of long-term debt | (2,234) | (763) |
Debt financing costs | (4) | (6) |
Stock repurchases | (150) | 0 |
Payment of cash dividends | (232) | 0 |
Proceeds from the exercise of stock options | 16 | 29 |
Employee equity-based compensation withholding taxes | (25) | (25) |
Dividends paid to noncontrolling interests | 0 | (31) |
Dividend from Adient spin-off | 0 | 2,050 |
Cash transferred to Adient related to spin-off | 0 | (564) |
Cash paid related to prior acquistions | 0 | (45) |
Cash provided (used) by financing activities | (1,440) | 1,964 |
Effect of exchange rate changes on cash and cash equivalents | 17 | (55) |
Change in cash held for sale | 9 | 105 |
Increase (decrease) in cash and cash equivalents | 231 | (202) |
Cash and cash equivalents at beginning of period | 321 | 579 |
Cash and cash equivalents at end of period | $ 552 | $ 377 |
Financial Statements
Financial Statements | 3 Months Ended |
Dec. 31, 2017 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Financial Statements | Financial Statements The consolidated financial statements include the consolidated accounts of Johnson Controls International plc, a corporation organized under the laws of Ireland, and its subsidiaries (Johnson Controls International plc and all its subsidiaries, hereinafter collectively referred to as the "Company" or "Johnson Controls"). In the opinion of management, the accompanying unaudited consolidated financial statements contain all adjustments (which include normal recurring adjustments) necessary to state fairly the financial position, results of operations and cash flows for the periods presented. Certain information and footnote disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States of America ("U.S. GAAP") have been omitted pursuant to the rules and regulations of the United States Securities and Exchange Commission ("SEC"). These consolidated financial statements should be read in conjunction with the audited financial statements and notes thereto included in the Company's Annual Report on Form 10-K for the year ended September 30, 2017 filed with the SEC on November 21, 2017. The results of operations for the three month period ended December 31, 2017 are not necessarily indicative of results for the Company’s 2018 fiscal year because of seasonal and other factors. Nature of Operations Johnson Controls International plc, headquartered in Cork, Ireland, is a global diversified technology and multi industrial leader serving a wide range of customers in more than 150 countries. The Company creates intelligent buildings, efficient energy solutions, integrated infrastructure and next generation transportation systems that work seamlessly together to deliver on the promise of smart cities and communities. The Company is committed to helping our customers win and creating greater value for all of its stakeholders through strategic focus on our buildings and energy growth platforms. In the fourth quarter of fiscal 2016, Johnson Controls, Inc. ("JCI Inc.") and Tyco International plc ("Tyco") completed their combination with JCI Inc. merging with a wholly-owned, indirect subsidiary of Tyco (the "Merger"). Following the Merger, Tyco changed its name to “Johnson Controls International plc” and JCI Inc. is a wholly-owned subsidiary of Johnson Controls International plc. The Merger was accounted for as a reverse acquisition using the acquisition method of accounting in accordance with Accounting Standards Codification ("ASC") 805, "Business Combinations." JCI Inc. was the accounting acquirer for financial reporting purposes. Accordingly, the historical consolidated financial statements of JCI Inc. for periods prior to this transaction are considered to be the historic financial statements of the Company. The Building Technologies & Solutions ("Buildings") business is a global market leader in engineering, developing, manufacturing and installing building products and systems around the world, including heating, ventilating, air-conditioning ("HVAC") equipment, HVAC controls, energy-management systems, security systems, fire detection systems and fire suppression solutions. The Buildings business further serves customers by providing technical services (in the HVAC, security and fire-protection space), energy-management consulting and data-driven solutions via its recently launch data-enabled business. Finally, the Company is a North American market leader in residential air conditioning and heating systems and a global market leader in industrial refrigeration products. The Power Solutions business is a leading global supplier of lead-acid automotive batteries for virtually every type of passenger car, light truck and utility vehicle. The Company serves both automotive original equipment manufacturers and the general vehicle battery aftermarket. The Company also supplies advanced battery technologies to power start-stop, hybrid and electric vehicles. Principles of Consolidation The consolidated financial statements include the consolidated accounts of Johnson Controls International plc and its subsidiaries that are consolidated in conformity with U.S. GAAP. All significant intercompany transactions have been eliminated. The results of companies acquired or disposed of during the year are included in the consolidated financial statements from the effective date of acquisition or up to the date of disposal. Investments in partially-owned affiliates are accounted for by the equity method when the Company’s interest exceeds 20% and the Company does not have a controlling interest. Under certain criteria as provided for in Financial Accounting Standards Board ("FASB") ASC 810, "Consolidation," the Company may consolidate a partially-owned affiliate. To determine whether to consolidate a partially-owned affiliate, the Company first determines if the entity is a variable interest entity ("VIE"). An entity is considered to be a VIE if it has one of the following characteristics: 1) the entity is thinly capitalized; 2) residual equity holders do not control the entity; 3) equity holders are shielded from economic losses or do not participate fully in the entity’s residual economics; or 4) the entity was established with non-substantive voting rights. If the entity meets one of these characteristics, the Company then determines if it is the primary beneficiary of the VIE. The party with the power to direct activities of the VIE that most significantly impact the VIE’s economic performance and the potential to absorb benefits or losses that could be significant to the VIE is considered the primary beneficiary and consolidates the VIE. If the entity is not considered a VIE, then the Company applies the voting interest model to determine whether or not the Company shall consolidate the partially-owned affiliate. Consolidated VIEs Based upon the criteria set forth in ASC 810, the Company has determined that it was not the primary beneficiary in any VIEs for the reporting period ended December 31, 2017 and that it was the primary beneficiary in one VIE for the reporting period ended September 30, 2017 , as the Company absorbed significant economics of the entity and had the power to direct the activities that are considered most significant to the entity. In fiscal 2012, a pre-existing VIE accounted for under the equity method was reorganized into three separate investments as a result of the counterparty exercising its option to put its interest to the Company. The Company acquired additional interests in two of the reorganized group entities. The reorganized group entities are considered to be VIEs as the other owner party has been provided decision making rights but does not have equity at risk. The Company was considered the primary beneficiary of one of the entities due to the Company’s power pertaining to decisions over significant activities of the entity. As such, this VIE was consolidated within the Company’s consolidated statements of financial position as of September 30, 2017. The impact of the entity on the Company’s consolidated statements of income for the three month periods ended December 31, 2017 and 2016 were not material. During the quarter ended December 31, 2017 , certain joint venture agreements were amended, and as a result, the Company can no longer make key operating decisions considered to be most significant to the VIE. As such, the Company is no longer considered the primary beneficiary of this entity, and the Company deconsolidated the entity during the quarter ended December 31, 2017 . The carrying amounts and classification of assets (none of which are restricted) and liabilities included in the Company’s consolidated statements of financial position for the consolidated VIE is as follows (in millions): September 30, 2017 Current assets $ 2 Noncurrent assets 53 Total assets $ 55 Current liabilities $ 6 Noncurrent liabilities 42 Total liabilities $ 48 The Company did not have a significant variable interest in any other consolidated VIEs for the presented reporting periods. Nonconsolidated VIEs As mentioned previously within the "Consolidated VIEs" section above, in fisca1 2012, a pre-existing VIE was reorganized into three separate investments as a result of the counterparty exercising its option to put its interest to the Company. The reorganized group entities are considered to be VIEs as the other owner party has been provided decision making rights but does not have equity at risk. The VIEs are named as co-obligors under a third party debt agreement in the amount of $162 million , maturing in fiscal 2020, under which a VIE could become subject to paying more than its allocated share of the third party debt in the event of bankruptcy of one or more of the other co-obligors. The other co-obligors, all related parties in which the Company is an equity investor, consist of the remaining group entities involved in the reorganization. As part of the overall reorganization transaction, the Company has also provided financial support to the group entities in the form of loans totaling $37 million , which are subordinate to the third party debt agreement. The Company is a significant customer of certain co-obligors, resulting in a remote possibility of loss. Additionally, the Company is subject to a floor guaranty expiring in fiscal 2022; in the event that the other owner party no longer owns any part of the group entities due to sale or transfer, the Company has guaranteed that the proceeds received from the sale or transfer will not be less than $25 million . The Company has partnered with the group entities to design and manufacture battery components for the Power Solutions business. The Company is not considered to be the primary beneficiary of three of the entities as of December 31, 2017 and two of the entities as of September 30, 2017 , as the Company cannot make key operating decisions considered to be most significant to the VIEs. Therefore, the entities are accounted for under the equity method of accounting as the Company’s interest exceeds 20% and the Company does not have a controlling interest. The Company’s maximum exposure to loss includes the partially-owned affiliate investment balances of $38 million and $65 million at December 31, 2017 and September 30, 2017 , respectively, as well as the subordinated loan from the Company, third party debt agreement and floor guaranty mentioned above. Current liabilities due to the VIEs are not material and represent normal course of business trade payables for all presented periods. The Company did not have a significant variable interest in any other unconsolidated VIEs for the presented reporting periods. Restricted Cash At December 31, 2017 , the Company held restricted cash of approximately $19 million , of which $10 million was recorded within other current assets in the consolidated statements of financial position and $9 million was recorded within other noncurrent assets in the consolidated statements of financial position. At September 30, 2017 , the Company held restricted cash of approximately $31 million , of which $22 million was recorded within other current assets in the consolidated statements of financial position and $9 million was recorded within other noncurrent assets in the consolidated statements of financial position. These amounts were primarily related to cash restricted for payment of asbestos liabilities. Retrospective Changes Effective July 1, 2017, the Company reorganized the reportable segments within its Building Technologies & Solutions business to align with its new management reporting structure and business activities. Prior to this reorganization, Building Technologies & Solutions was comprised of five reportable segments for financial reporting purposes: Systems and Service North America, Products North America, Asia, Rest of World and Tyco. As a result of this change, Building Technologies & Solutions is now comprised of four reportable segments for financial reporting purposes: Building Solutions North America, Building Solutions EMEA/LA, Building Solutions Asia Pacific and Global Products. Refer to Note 18, “Segment Information,” of the notes to consolidated financial statements for further information. The net sales and cost of sales split of products and systems versus services in the consolidated statements of income has also been revised for the Building Technologies & Solutions reorganization. In March 2016, the FASB issued Accounting Standards Update ("ASU") No. 2016-09, "Compensation - Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting." During the quarter ended December 31, 2017, the Company adopted ASU No. 2016-09. As a result, employee withholding taxes paid to taxing authorities for equity-based compensation transactions, previously classified as cash flows from operating activities, were reclassified to financing activities in the consolidated statements of cash flows for the three months ended December 31, 2016. Refer to Note 2, "New Accounting Standards," of the notes to consolidated financial statements for further information. |
New Accounting Standards
New Accounting Standards | 3 Months Ended |
Dec. 31, 2017 | |
New Accounting Pronouncements and Changes in Accounting Principles [Abstract] | |
New Accounting Standards | New Accounting Standards Recently Adopted Accounting Pronouncements In August 2017, the FASB issued ASU No. 2017-12, "Derivatives and Hedging (Topic 815): Targeted Improvements to Accounting for Hedging Activities." The ASU more closely aligns the results of hedge accounting with risk management activities through amendments to the designation and measurement guidance to better reflect a Company's hedging strategy and effectiveness. During the quarter ended December 31, 2017, the Company early adopted ASU 2017-12. The adoption of this guidance did not have a material impact on the Company's consolidated financial statements. In March 2016, the FASB issued ASU No. 2016-09, "Compensation - Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting." ASU No. 2016-09 impacts certain aspects of the accounting for share-based payment transactions, including income tax consequences, classification of awards as either equity or liabilities, and classification on the statements of cash flows. During the quarter ended December 31, 2017, the Company adopted ASU No. 2016-09. As a result, the Company recognized deferred tax assets of $179 million in the consolidated statements of financial position related to certain operating loss carryforwards resulting from the exercise of employee stock options and vested restricted stock on a modified retrospective basis through a cumulative-effect adjustment to retained earnings as of October 1, 2017. Additionally, employee withholding taxes paid to taxing authorities for equity-based compensation transactions, previously classified as cash flows from operating activities, were reclassified to financing activities in the consolidated statements of cash flows for the three months ended December 31, 2016 for comparative purposes. The remaining provisions of ASU No. 2016-09 did not have a material impact on the Company's consolidated financial statements. Recently Issued Accounting Pronouncements In November 2016, the FASB issued ASU No. 2016-18, "Statement of Cash Flows (Topic 230): Restricted Cash (a consensus of the FASB Emerging Issues Task Force)." The ASU requires amounts generally described as restricted cash and restricted cash equivalents to be included with cash and cash equivalents when reconciling the beginning-of-period and end-of-period total amounts shown on the statement of cash flows. The guidance will be effective for the Company for the quarter ending December 31, 2018, with early adoption permitted. The amendments in this update should be applied retrospectively to all periods presented. The impact of this guidance for the Company will depend on the levels of restricted cash balances in the periods presented. In October 2016, the FASB issued ASU No. 2016-16, "Accounting for Income Taxes: Intra-Entity Asset Transfers of Assets Other than Inventory." The ASU requires the tax effects of all intra-entity sales of assets other than inventory to be recognized in the period in which the transaction occurs. The guidance will be effective for the Company for the quarter ending December 31, 2018, with early adoption permitted but only in the first interim period of a fiscal year. The changes are required to be applied by means of a cumulative-effect adjustment recorded in retained earnings as of the beginning of the fiscal year of adoption. The Company is currently assessing the impact adoption of this guidance will have on its consolidated financial statements. In August 2016, the FASB issued ASU No. 2016-15, "Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts and Cash Payments." ASU No. 2016-15 provides clarification guidance on eight specific cash flow presentation issues in order to reduce the diversity in practice. ASU No. 2016-15 will be effective for the Company for the quarter ending December 31, 2018, with early adoption permitted. The guidance should be applied retrospectively to all periods presented, unless deemed impracticable, in which case prospective application is permitted. The Company is currently assessing the impact adoption of this guidance will have on its consolidated financial statements. In February 2016, the FASB issued ASU No. 2016-02, "Leases (Topic 842)." ASU No. 2016-02 requires recognition of operating leases as lease assets and liabilities on the balance sheet, and disclosure of key information about leasing arrangements. ASU No. 2016-02 will be effective retrospectively for the Company for the quarter ending December 31, 2019, with early adoption permitted. The Company is currently assessing the impact adoption of this guidance will have on its consolidated financial statements. The Company has started the assessment process by evaluating the population of leases under the revised definition of what qualifies as a leased asset. The Company is the lessee under various agreements for facilities and equipment that are currently accounted for as operating leases. The new guidance will require the Company to record operating leases on the balance sheet with a right-of-use asset and corresponding liability for future payment obligations. The Company expects the new guidance will have a material impact on its consolidated statements of financial position for the addition of right-of-use assets and lease liabilities, but the Company does not expect it to have a material impact on its consolidated statements of income. In January 2016, the FASB issued ASU No. 2016-01, "Financial Instruments - Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities." ASU No. 2016-01 amends certain aspects of recognition, measurement, presentation and disclosure of financial instruments, including marketable securities. ASU No. 2016-01 will be effective for the Company for the quarter ending December 31, 2018, and early adoption is not permitted, with certain exceptions. The changes are required to be applied by means of a cumulative-effect adjustment on the balance sheet as of the beginning of the fiscal year of adoption. The impact of this guidance for the Company will depend on the magnitude of the unrealized gains and losses on the Company's marketable securities investments. In May 2014, the FASB issued ASU No. 2014-09, "Revenue from Contracts with Customers (Topic 606)." ASU No. 2014-09 clarifies the principles for recognizing revenue when an entity either enters into a contract with customers to transfer goods or services or enters into a contract for the transfer of non-financial assets. The original standard was effective retrospectively for the Company for the quarter ending December 31, 2017; however in August 2015, the FASB issued ASU No. 2015-14, "Revenue from Contracts with Customers (Topic 606): Deferral of the Effective Date," which defers the effective date of ASU No. 2014-09 by one-year for all entities. The new standard will become effective retrospectively for the Company for the quarter ending December 31, 2018, with early adoption permitted, but not before the original effective date. Additionally, in March 2016, the FASB issued ASU No. 2016-08, "Revenue from Contracts with Customers (Topic 606): Principal versus Agent Considerations (Reporting Revenue Gross versus Net)," in April 2016, the FASB issued ASU No. 2016-10, "Revenue from Contracts with Customers (Topic 606): Identifying Performance Obligations and Licensing," in May 2016, the FASB issued ASU No. 2016-12, "Revenue from Contracts with Customers (Topic 606): Narrow-Scope Improvements and Practical Expedients," and in December 2016, the FASB issued ASU No. 2016-20, "Technical Corrections and Improvements to Topic 606, Revenue from Contracts with Customers," all of which provide additional clarification on certain topics addressed in ASU No. 2014-09. ASU No. 2016-08, ASU No. 2016-10, ASU No. 2016-12 and ASU No. 2016-20 follow the same implementation guidelines as ASU No. 2014-09 and ASU No. 2015-14. The Company has elected to adopt the new revenue guidance as of October 1, 2018 using the modified retrospective approach. In preparation for adoption of the new guidance, the Company has reviewed representative samples of contracts and other forms of agreements with customers globally and is in the process of evaluating the impact of the new revenue standard. Based on its procedures to date, the Company is not in a position today to quantify the potential impact the new revenue standard will have to its consolidated financial statements. Other recently issued accounting pronouncements are not expected to have a material impact on the Company's consolidated financial statements. |
Acquisitions and Divestitures
Acquisitions and Divestitures | 3 Months Ended |
Dec. 31, 2017 | |
Business Combinations [Abstract] | |
Acquisition and Divestitures | Acquisitions and Divestitures In the first quarter of fiscal 2018, the Company completed the sale of its Scott Safety business to 3M Company. The selling price, net of cash divested, was $2.0 billion , all of which was received as of December 31, 2017. In connection with the sale, the Company recorded a pre-tax gain of $114 million within selling, general and administrative expenses in the consolidated statements of income and reduced goodwill in assets held for sale by $1.2 billion . The gain, net of tax, recorded was $84 million . Net cash proceeds from the transaction of approximately $1.9 billion were used to repay a significant portion of the Tyco International Holding S.a.r.L.'s ("TSarl") $4.0 billion of merger-related debt. The Scott Safety business is included in the Global Products segment and is reported within assets and liabilities held for sale in the consolidated statements of financial position as of September 30, 2017. Refer to Note 4, "Discontinued Operations," of the notes to consolidated financial statements for further disclosure related to the Company's net assets held for sale. In the first quarter of fiscal 2017, the Company completed two acquisitions for a combined purchase price, net of cash acquired, of $6 million , $3 million of which was paid in the three months ended December 31, 2016. The acquisitions in the aggregate were not material to the Company’s consolidated financial statements. In connection with the acquisitions, the Company recorded goodwill of $1 million . In the first quarter of fiscal 2017, the Company completed one divestiture for a sales price of $4 million , none of which was received in the three months ended December 31, 2016. The divestiture decreased the Company's ownership from a controlling to noncontrolling interest, and as a result, the Company deconsolidated cash of $5 million . The divestiture was not material to the Company's consolidated financial statements. During the first quarter of fiscal 2017, the Company received $52 million in net cash proceeds related to prior year business divestitures. |
Discontinued Operations (Notes)
Discontinued Operations (Notes) | 3 Months Ended |
Dec. 31, 2017 | |
Discontinued Operations [Abstract] | |
Discontinued Operations | Discontinued Operations On October 31, 2016, the Company completed the spin-off of its Automotive Experience business by way of the transfer of the Automotive Experience business from Johnson Controls to Adient plc and the issuance of ordinary shares of Adient directly to holders of Johnson Controls ordinary shares on a pro rata basis. Prior to the open of business on October 31, 2016, each of the Company's shareholders received one ordinary share of Adient plc for every 10 ordinary shares of Johnson Controls held as of the close of business on October 19, 2016, the record date for the distribution. Company shareholders received cash in lieu of fractional shares of Adient, if any. Following the separation and distribution, Adient plc is now an independent public company trading on the New York Stock Exchange ("NYSE") under the symbol "ADNT." The Company did not retain any equity interest in Adient plc. Adient’s historical financial results are reflected in the Company’s consolidated financial statements as a discontinued operation. The Company did not allocate any general corporate overhead to discontinued operations. The following table summarizes the results of Adient, reclassified as discontinued operations for the three month period ended December 31, 2016 (in millions). As the Adient spin-off occurred on October 31, 2016, there is only one month of Adient results included in the three month period ended December 31, 2016 . Three Months Ended December 31, 2016 Net sales $ 1,434 Income from discontinued operations before income taxes 1 Provision for income taxes on discontinued operations 35 Income from discontinued operations attributable to noncontrolling interests, net of tax 9 Loss from discontinued operations $ (43 ) For the three months ended December 31, 2016 , the income from discontinued operations before income taxes included separation costs of $79 million . For the three months ended December 31, 2016 , the effective tax rate was more than the U.S. federal statutory rate of 35% primarily due to the tax impacts of separation costs and Adient spin-off related tax expense, partially offset by non-U.S. tax rate differentials. The following table summarizes depreciation and amortization, capital expenditures, and significant operating and investing noncash items related to Adient for the three month period ended December 31, 2016 (in millions): Three Months Ended December 31, 2016 Depreciation and amortization $ 29 Equity in earnings of partially-owned affiliates (31 ) Deferred income taxes 562 Equity-based compensation 1 Accrued income taxes (808 ) Capital expenditures (91 ) Assets and Liabilities Held for Sale During the second quarter of fiscal 2017, the Company signed a definitive agreement to sell its Scott Safety business of the Global Products segment to 3M Company. The transaction closed on October 4, 2017. The assets and liabilities of this business are presented as held for sale in the consolidated statements of financial position as of September 30, 2017. The business did not meet the criteria to be classified as a discontinued operation as the divestiture of the Scott Safety business did not have a major effect on the Company’s operations and financial results. The following table summarizes the carrying value of the Scott Safety assets and liabilities held for sale at September 30, 2017 (in millions): September 30, 2017 Cash $ 9 Accounts receivable - net 100 Inventories 75 Other current assets 5 Assets held for sale $ 189 Property, plant and equipment - net $ 79 Goodwill 1,248 Other intangible assets - net 592 Other noncurrent assets 1 Noncurrent assets held for sale $ 1,920 Accounts payable $ 37 Accrued compensation and benefits 10 Other current liabilities 25 Liabilities held for sale $ 72 Other noncurrent liabilities $ 173 Noncurrent liabilities held for sale $ 173 During the first quarter of fiscal 2018, the Company signed a definitive agreement to sell a certain Global Products business. As a result, $18 million of goodwill was transfered to assets held for sale in the consolidated statements of financial position as of December 31, 2017. The business did not meet the criteria to be classified as a discontinued operation as the divestiture of the business will not have a major effect on the Company’s operations and financial results. At December 31, 2017, $22 million of certain Corporate assets were classified as held for sale. |
Percentage-of-Completion Contra
Percentage-of-Completion Contracts | 3 Months Ended |
Dec. 31, 2017 | |
Disclosure Percentage Of Completion Contracts Additional Information [Abstract] | |
Percentage-of-Completion Contracts | Percentage-of-Completion Contracts The Building Technologies & Solutions business records certain long-term contracts under the percentage-of-completion method of accounting. Under this method, sales and gross profit are recognized as work is performed based on the relationship between actual costs incurred and total estimated costs at completion. The Company records costs and earnings in excess of billings on uncompleted contracts primarily within accounts receivable - net and billings in excess of costs and earnings on uncompleted contracts primarily within deferred revenue in the consolidated statements of financial position. Costs and earnings in excess of billings related to these contracts were $975 million and $908 million at December 31, 2017 and September 30, 2017 , respectively. Billings in excess of costs and earnings related to these contracts were $567 million and $451 million at December 31, 2017 and September 30, 2017 , respectively. |
Inventories
Inventories | 3 Months Ended |
Dec. 31, 2017 | |
Inventory Disclosure [Abstract] | |
Inventories | Inventories Inventories consisted of the following (in millions): December 31, 2017 September 30, 2017 Raw materials and supplies $ 1,006 $ 919 Work-in-process 543 567 Finished goods 1,910 1,723 Inventories $ 3,459 $ 3,209 |
Goodwill and Other Intangible A
Goodwill and Other Intangible Assets (Notes) | 3 Months Ended |
Dec. 31, 2017 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
GOODWILL AND OTHER INTANGIBLE ASSETS | Goodwill and Other Intangible Assets The changes in the carrying amount of goodwill in each of the Company’s reportable segments for the three month period ended December 31, 2017 were as follows (in millions): Business Acquisitions Business Divestitures Currency Translation and Other September 30, December 31, 2017 2017 Building Technologies & Solutions Building Solutions North America $ 9,637 $ — $ — $ (4 ) $ 9,633 Building Solutions EMEA/LA 2,012 — — 14 2,026 Building Solutions Asia Pacific 1,255 — — 28 1,283 Global Products 5,687 — (18 ) 1 5,670 Power Solutions 1,097 — — 8 1,105 Total $ 19,688 $ — $ (18 ) $ 47 $ 19,717 At September 30, 2017 , accumulated goodwill impairment charges included $47 million related to the Building Solutions EMEA/LA - Latin America reporting unit. The three months ended December 31, 2017 Global Products business divestiture amount includes $18 million of goodwill transferred to assets held for sale in the consolidated statements of financial position. Refer to Note 4, "Discontinued Operations," of the notes to consolidated financial statements for further information regarding the Company's assets and liabilities held for sale. The Company’s other intangible assets, primarily from business acquisitions valued based on independent appraisals, consisted of (in millions): December 31, 2017 September 30, 2017 Gross Carrying Amount Accumulated Amortization Net Gross Carrying Amount Accumulated Amortization Net Amortized intangible assets Technology $ 1,343 $ (174 ) $ 1,169 $ 1,328 $ (137 ) $ 1,191 Customer relationships 3,136 (503 ) 2,633 3,168 (486 ) 2,682 Miscellaneous 413 (167 ) 246 389 (147 ) 242 Total amortized intangible assets 4,892 (844 ) 4,048 4,885 (770 ) 4,115 Unamortized intangible assets Trademarks/trade names 2,486 — 2,486 2,483 — 2,483 Miscellaneous 123 — 123 143 — 143 2,609 — 2,609 2,626 — 2,626 Total intangible assets $ 7,501 $ (844 ) $ 6,657 $ 7,511 $ (770 ) $ 6,741 Amortization of other intangible assets included within continuing operations for the three month periods ended December 31, 2017 and 2016 was $94 million and $149 million , respectively. Excluding the impact of any future acquisitions, the Company anticipates amortization for fiscal 2019, 2020, 2021, 2022 and 2023 will be approximately $376 million , $371 million , $365 million , $355 million and $346 million per year, respectively. |
Significant Restructuring Costs
Significant Restructuring Costs | 3 Months Ended |
Dec. 31, 2017 | |
Restructuring Charges [Abstract] | |
Significant Restructuring and Impairment Costs | Significant Restructuring and Impairment Costs To better align its resources with its growth strategies and reduce the cost structure of its global operations in certain underlying markets, the Company commits to restructuring plans as necessary. In fiscal 2018, the Company committed to a significant restructuring plan (2018 Plan) and recorded $158 million of restructuring and impairment costs in the consolidated statements of income. This was 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 Building Technologies & Solutions and Power Solutions businesses and at Corporate. The costs consist primarily of workforce reductions, plant closures and asset impairments. Of the restructuring and impairment costs recorded, $76 million related to the Global Products segment, $32 million related to the Building Solutions EMEA/LA segment, $24 million related to Corporate, $14 million related to the Building Solutions Asia Pacific segment, $8 million related to the Building Solutions North America segment and $4 million related to the Power Solutions segment. The restructuring actions are expected to be substantially complete in 2020. The following table summarizes the changes in the Company’s 2018 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 $ 125 $ 30 $ 3 $ 158 Utilized—noncash — (30 ) — (30 ) Balance at December 31, 2017 $ 125 $ — $ 3 $ 128 In fiscal 2017, the Company committed to a significant restructuring plan (2017 Plan) and recorded $367 million of restructuring and impairment costs in the consolidated statements of income. This was 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 Building Technologies & Solutions and Power Solutions businesses and at Corporate. The costs consist primarily of workforce reductions, plant closures and asset impairments. Of the restructuring and impairment costs recorded, $166 million related to Corporate, $74 million related to the Building Solutions EMEA/LA segment, $59 million related to the Building Solutions North America segment, $32 million related to the Global Products segment, $20 million related to the Power Solutions segment and $16 million related to the Building Solutions Asia Pacific segment. The restructuring actions are expected to be substantially complete in fiscal 2018. The following table summarizes the changes in the Company’s 2017 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 $ 276 $ 77 $ 14 $ 367 Utilized—cash (75 ) — — (75 ) Utilized—noncash — (77 ) (1 ) (78 ) Adjustment to restructuring reserves 25 — — 25 Balance at September 30, 2017 $ 226 $ — $ 13 $ 239 Utilized—cash (26 ) — (2 ) (28 ) Balance at December 31, 2017 $ 200 $ — $ 11 $ 211 In fiscal 2016, the Company committed to a significant restructuring plan (2016 Plan) and recorded $288 million of restructuring and impairment costs in the consolidated statements of income. This was 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 Building Technologies & Solutions and Power Solutions businesses and at Corporate. The costs consist primarily of workforce reductions, plant closures, asset impairments and change-in-control payments. Of the restructuring and impairment costs recorded, $161 million related to Corporate, $66 million related to the Power Solutions segment, $44 million related to the Global Products segment and $17 million related to the Building Solutions EMEA/LA segment. The restructuring actions are expected to be substantially complete in fiscal 2018. Included in the reserve is $56 million of committed restructuring actions taken by Tyco for liabilities assumed as part of the Tyco acquisition. Additionally, the Company recorded $332 million of restructuring and impairment costs within discontinued operations related to Adient in fiscal 2016. The following table summarizes the changes in the Company’s 2016 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 Currency Total Original reserve $ 368 $ 190 $ 62 $ — $ 620 Acquired Tyco restructuring reserves 78 — — — 78 Utilized—cash (32 ) — — — (32 ) Utilized—noncash — (190 ) (32 ) 1 (221 ) Balance at September 30, 2016 $ 414 $ — $ 30 $ 1 $ 445 Adient spin-off impact (194 ) — (22 ) — (216 ) Utilized—cash (86 ) — (2 ) — (88 ) Utilized—noncash — — — 1 1 Adjustment to restructuring reserves (25 ) — — — (25 ) Transfer to liabilities held for sale (3 ) — — — (3 ) Adjustment to acquired Tyco restructuring reserves (22 ) — — — (22 ) Balance at September 30, 2017 $ 84 $ — $ 6 $ 2 $ 92 Utilized—cash (5 ) — (1 ) — (6 ) Balance at December 31, 2017 $ 79 $ — $ 5 $ 2 $ 86 The Company's fiscal 2018, 2017 and 2016 restructuring plans included workforce reductions of approximately 9,200 employees ( 7,300 for the Building Technologies & Solutions business, 1,700 for Corporate and 200 for Power Solutions). Restructuring charges associated with employee severance and termination benefits are paid over the severance period granted to each employee or on a lump sum basis in accordance with individual severance agreements. As of December 31, 2017 , approximately 1,800 of the employees have been separated from the Company pursuant to the restructuring plans. In addition, the restructuring plans included eleven plant closures in the Building Technologies & Solutions business. As of December 31, 2017 , four of the eleven plants have been closed. Company management closely monitors its overall cost structure and continually analyzes each of its businesses for opportunities to consolidate current operations, improve operating efficiencies and locate facilities in close proximity to customers. This ongoing analysis includes a review of its manufacturing, engineering and purchasing operations, as well as the overall global footprint for all its businesses. |
Income Taxes
Income Taxes | 3 Months Ended |
Dec. 31, 2017 | |
Income Tax Disclosure [Abstract] | |
Income Taxes | Income Taxes In calculating the provision for income taxes, the Company uses an estimate of the annual effective tax rate based upon the facts and circumstances known at each interim period. On a quarterly basis, the actual effective tax rate is adjusted, as appropriate, based upon changed facts and circumstances, if any, as compared to those forecasted at the beginning of the fiscal year and each interim period thereafter. The U.S. federal statutory tax rate is being used as a comparison due to the Company's current legal entity structure. As a result of recently enacted U.S. Tax Reform, the Company will be subject to a U.S. federal statutory tax rate of 24.5% for its fiscal year ended September 30, 2018, which reflects a blended federal statutory rate of 35% for its first fiscal quarter and 21% for the remaining three fiscal quarters. For the three months ended December 31, 2017 , the Company's effective tax rate was 50% and was higher than the blended U.S. federal statutory rate of 24.5% primarily due to the discrete net impacts of U.S. Tax Reform, Tyco Merger transaction and integration costs, and the jurisdictional mix of significant restructuring and impairment costs, partially offset by the benefits of continuing global tax planning initiatives, non-U.S. tax rate differentials and tax audit closures. For the three months ended December 31, 2016 , the Company's effective tax rate was -7% and was lower than the U.S. federal statutory rate of 35% primarily due to the benefits of continuing global tax planning initiatives, non-U.S. tax rate differentials and a tax benefit due to changes in entity tax status, partially offset by the jurisdictional mix of significant restructuring and impairment costs, as well as Tyco Merger transaction and integration costs, and purchase accounting impacts. Valuation Allowance The Company reviews the realizability of its deferred tax assets on a quarterly basis, or whenever events or changes in circumstances indicate that a review is required. In determining the requirement for a valuation allowance, the historical and projected financial results of the legal entity or consolidated group recording the net deferred tax asset are considered, along with any other positive or negative evidence. Since future financial results may differ from previous estimates, periodic adjustments to the Company’s valuation allowances may be necessary. Uncertain Tax Positions At September 30, 2017 , the Company had gross tax effected unrecognized tax benefits of $2,173 million , of which $2,047 million , if recognized, would impact the effective tax rate. Total net accrued interest at September 30, 2017 was approximately $99 million (net of tax benefit). The interest and penalties accrued during the three months ended December 31, 2017 and 2016 were not material. The Company recognizes interest and penalties related to unrecognized tax benefits as a component of income tax expense. In the first quarter of fiscal 2018, tax audit resolutions resulted in a net $25 million benefit to income tax expense. The Company is currently under exam in the following major non-U.S. jurisdictions: Tax Jurisdiction Tax Years Covered Belgium 2015 - 2016 Brazil 2011 - 2012 Canada 2013 - 2014 China 2008 - 2016 France 2010 - 2016 Germany 2007 - 2015 Japan 2016 Spain 2010 - 2014 Switzerland 2011 - 2014 United Kingdom 2011 - 2014 Impacts of Tax Legislation On December 22, 2017, the “Tax Cuts and Jobs Act” (H.R. 1) was enacted and significantly revises U.S. corporate income tax by, among other things, lowering corporate income tax rates, imposing a one-time transition tax on deemed repatriated earnings of non-U.S. subsidiaries, and implementing a territorial tax system and various base erosion minimum tax provisions. In the first quarter of fiscal 2018, as a result of the enacted legislation, the Company recorded a discrete non-cash tax benefit of $101 million due to the remeasurement of U.S. deferred tax assets and liabilities. The Company remeasured certain deferred tax assets and liabilities based on the rates at which they are expected to reverse in the future, which is generally 21% or the blended fiscal 2018 rate of 24.5% . This tax benefit is provisional as the Company is still analyzing certain aspects of the legislation and refining calculations, which could potentially materially affect the measurement of these amounts or give rise to new deferred tax amounts. In the first quarter of fiscal 2018, the Company also recorded a discrete tax charge of $305 million due to the one-time transition tax on deemed repatriated earnings of certain non-U.S. subsidiaries. This charge is inclusive of relevant non-U.S. withholding taxes and U.S. state income tax on the portion of the earnings expected to be repatriated. This one-time transition tax is based on the Company’s post-1986 earnings and profits (“E&P”) not previously subjected to U.S. taxation. This tax charge is provisional as the Company has not yet finally determined its post-1986 non-U.S. E&P. Further, the transition tax is based in part on the amount of those earnings held in cash and other specified assets. Given the varying tax rates ( 15.5% on cash and 8% on other property), this amount may change when the Company completes the calculation of post-1986 non-U.S. E&P previously deferred from U.S. federal taxation and concludes on the amounts held in cash versus other specified assets. Various impacts of the enacted legislation are still being evaluated by the Company and may materially differ from the estimated impacts recognized in the first quarter of fiscal 2018 due to future treasury regulations, tax law technical corrections, and other potential guidance, notices, rulings, refined computations, actions the Company may take as a result of the tax legislation, and other items. The SEC has issued rules that allow for a measurement period of up to one year after the enactment date of the legislation to finalize the recording of the related tax impacts. On October 13, 2016, the U.S. Treasury and the Internal Revenue Service (“IRS”) released final and temporary Section 385 regulations. These regulations address whether certain instruments between related parties are treated as debt or equity. The Company does not expect that the regulations will have a material impact on its consolidated financial statements. During the three months ended December 31, 2017 and 2016 , other tax legislation was adopted in various jurisdictions. These law changes did not have a material impact on the Company's consolidated financial statements. Other Tax Matters In the first quarter of fiscal 2018, the Company recorded $50 million of transaction and integration costs. These costs generated a $7 million tax benefit which was impacted by the Company’s current tax position in these jurisdictions. In the first quarter of fiscal 2018, the Company recorded $158 million of significant restructuring and impairment costs. Refer to Note 8, "Significant Restructuring and Impairment Costs," of the notes to consolidated financial statements for additional information. The restructuring costs generated a $24 million tax benefit, which was impacted by the Company’s current tax position in these jurisdictions and the lower enacted U.S. tax rate. In the first quarter of fiscal 2017, the Company recorded a discrete tax benefit of $101 million due to changes in entity tax status. In the first quarter of fiscal 2017, the Company recorded $130 million of transaction and integration costs which generated an $11 million tax benefit. In the first quarter of fiscal 2017, the Company recorded $78 million of significant restructuring and impairment costs. Refer to Note 8, "Significant Restructuring and Impairment Costs," of the notes to consolidated financial statements for additional information. The restructuring costs generated a $14 million tax benefit, which was impacted by the Company’s current tax position in these jurisdictions. |
Pension and Postretirement Plan
Pension and Postretirement Plans | 3 Months Ended |
Dec. 31, 2017 | |
Defined Benefit Pension Plans and Defined Benefit Postretirement Plans Disclosure [Abstract] | |
Pension and Postretirement Plans | Pension and Postretirement Plans The components of the Company’s net periodic benefit costs from continuing operations associated with its defined benefit pension and postretirement plans are shown in the tables below in accordance with ASC 715, "Compensation – Retirement Benefits" (in millions): U.S. Pension Plans Three Months Ended December 31, 2017 2016 Service cost $ 4 $ 5 Interest cost 26 28 Expected return on plan assets (57 ) (59 ) Net actuarial gain — (117 ) Settlement gain — (8 ) Net periodic benefit credit $ (27 ) $ (151 ) Non-U.S. Pension Plans Three Months Ended December 31, 2017 2016 Service cost $ 6 $ 8 Interest cost 14 12 Expected return on plan assets (29 ) (23 ) Net periodic benefit credit $ (9 ) $ (3 ) Postretirement Benefits Three Months Ended December 31, 2017 2016 Service cost $ — $ 1 Interest cost 2 1 Expected return on plan assets (2 ) (3 ) Net periodic benefit credit $ — $ (1 ) During the three months ended December 31, 2016, the amount of lump sum payouts triggered a remeasurement event for certain U.S. pension plans resulting in the recognition of net actuarial gains of $117 million . |
Debt and Financing Arrangements
Debt and Financing Arrangements | 3 Months Ended |
Dec. 31, 2017 | |
Debt Disclosure [Abstract] | |
Debt and Financing Arrangements | Debt and Financing Arrangements In December 2017, the Company repaid a 364 -day 150 million euro floating rate term loan, plus accrued interest, scheduled to mature in September 2018. In November 2017, the Company issued 750 million euro in principal amount of 0.0% senior unsecured fixed rate notes due in December 2020. Proceeds from the issuance were used to repay existing debt and for other general corporate purposes. In November 2017, the Company retired $300 million in principal amount, plus accrued interest, of its 1.4% fixed rate notes that expired in November 2017. In October 2017, the Company completed the previously announced sale of its Scott Safety business to 3M. Net cash proceeds from the transaction of approximately $1.9 billion were used to repay a significant portion of the TSarl $4.0 billion of merger-related debt. As of December 31, 2017, the outstanding balance of the TSarl term loan was approximately $1.8 billion . Net Financing Charges The Company's net financing charges line item in the consolidated statements of income for the three months ended December 31, 2017 and 2016 contained the following components (in millions): Three Months Ended December 31, 2017 2016 Interest expense, net of capitalized interest costs $ 114 $ 110 Banking fees and bond cost amortization 13 30 Interest income (9 ) (7 ) Net foreign exchange results for financing activities (2 ) 3 Net financing charges $ 116 $ 136 Net financing charges for the three months ended December 31, 2016 , included $17 million of transaction costs related primarily to the prior year debt exchange offer fees. |
Stock-Based Compensation (Notes
Stock-Based Compensation (Notes) | 3 Months Ended |
Dec. 31, 2017 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |
Stock-Based Compensation | Stock-Based Compensation During September 2016, the Board of Directors of the Company approved amendments to the Johnson Controls International plc 2012 Share and Incentive Plan (the "Plan"). The types of awards authorized by the Plan comprise of stock options, stock appreciation rights, performance shares, performance units and other stock-based compensation awards. The Compensation Committee of the Company's Board of Directors determines the types of awards to be granted to individual participants and the terms and conditions of the awards. Awards are typically granted annually in the Company’s fiscal first quarter. A summary of the stock-based awards granted during the three month periods ended December 31, 2017 and 2016 is presented below: Three Months Ended December 31, 2017 2016 Number Granted Weighted Average Grant Date Fair Value Number Granted Weighted Average Grant Date Fair Value Stock options 1,355,595 $ 7.05 2,830,826 $ 7.81 Stock appreciation rights — — 15,693 8.28 Restricted stock/units 2,051,817 37.36 1,512,544 41.74 Performance shares 496,478 36.31 846,725 48.40 Stock Options Stock options are granted with an exercise price equal to the market price of the Company’s stock at the date of grant. Stock option awards typically vest between two and three years after the grant date and expire ten years from the grant date. The fair value of each option is estimated on the date of grant using a Black-Scholes option valuation model that uses the assumptions noted in the following table. The expected life of options represents the period of time that options granted are expected to be outstanding, assessed separately for executives and non-executives. The risk-free interest rate for periods during the contractual life of the option is based on the U.S. Treasury yield curve in effect at the time of grant. For fiscal 2018, the expected volatility is based on the historical volatility of the Company’s stock after the Adient spin-off blended with the historical volatility of certain peer companies’ stock prior to the Adient spin-off over the most recent period corresponding to the expected life as of the grant date. For fiscal 2017, the expected volatility is based on the historical volatility of certain peer companies over the most recent period corresponding to the expected life as of the grant date. The expected dividend yield is based on the expected annual dividend as a percentage of the market value of the Company’s ordinary shares as of the grant date. The Company uses historical data to estimate option exercises and employee terminations within the valuation model. Three Months Ended 2017 2016 Expected life of option (years) 6.5 4.75 & 6.5 Risk-free interest rate 2.28% 1.23% - 1.48% Expected volatility of the Company’s stock 23.7% 24.6% Expected dividend yield on the Company’s stock 2.78% 2.21% Stock Appreciation Rights ("SARs") SARs vest under the same terms and conditions as stock option awards; however, they are settled in cash for the difference between the market price on the date of exercise and the exercise price. As a result, SARs are recorded in the Company’s consolidated statements of financial position as a liability until the date of exercise. The fair value of each SAR award is estimated using a similar method described for stock options. The fair value of each SAR award is recalculated at the end of each reporting period and the liability and expense are adjusted based on the new fair value. Restricted (Nonvested) Stock / Units The Plan provides for the award of restricted stock or restricted stock units to certain employees. These awards are typically share settled unless the employee is a non-U.S. employee or elects to defer settlement until retirement at which point the award would be settled in cash. Restricted awards typically vest over a period of three years from the grant date. The Plan allows for different vesting terms on specific grants with approval by the Board of Directors. The value of restricted awards is based on the closing market value of the Company’s ordinary shares on the date of grant. Performance Share Awards The Plan permits the grant of performance-based share unit ("PSU") awards. The PSUs are generally contingent on the achievement of pre-determined performance goals over a three-year performance period as well as on the award holder's continuous employment until the vesting date. The PSUs are also indexed to the achievement of specified levels of total shareholder return versus a peer group over the performance period. Each PSU that is earned will be settled with shares of the Company's ordinary shares following the completion of the performance period, unless the award holder elected to defer a portion or all of the award until retirement which would then be settled in cash. The fair value of each PSU is estimated on the date of grant using a Monte Carlo simulation that uses the assumptions noted in the following table. The risk-free interest rate for periods during the contractual life of the PSU is based on the U.S. Treasury yield curve in effect at the time of grant. For fiscal 2018, the expected volatility is based on the historical volatility of the Company’s stock after the Adient spin-off blended with the historical volatility of certain peer companies’ stock prior to the Adient spin-off over the most recent three-year period as of the grant date. For fiscal 2017, the expected volatility is based on historical volatility of certain peer companies over the most recent three-year period as of the grant date. Three Months Ended 2017 2016 Risk-free interest rate 1.92% 1.40% Expected volatility of the Company’s stock 21.7% 21.0% |
Earnings Per Share
Earnings Per Share | 3 Months Ended |
Dec. 31, 2017 | |
Earnings Per Share [Abstract] | |
Earnings Per Share | Earnings Per Share The Company presents both basic and diluted earnings per share ("EPS") amounts. Basic EPS is calculated by dividing net income attributable to Johnson Controls by the weighted average number of ordinary shares outstanding during the reporting period. Diluted EPS is calculated by dividing net income attributable to Johnson Controls by the weighted average number of ordinary shares and ordinary equivalent shares outstanding during the reporting period that are calculated using the treasury stock method for stock options, unvested restricted stock and unvested performance share awards. The treasury stock method assumes that the Company uses the proceeds from the exercise of stock option awards to repurchase ordinary shares at the average market price during the period. The assumed proceeds under the treasury stock method include the purchase price that the grantee will pay in the future and compensation cost for future service that the Company has not yet recognized. For unvested restricted stock and unvested performance share awards, assumed proceeds under the treasury stock method would include unamortized compensation cost. The following table reconciles the numerators and denominators used to calculate basic and diluted earnings per share (in millions): Three Months Ended December 31, 2017 2016 Income Available to Ordinary Shareholders Income from continuing operations $ 230 $ 372 Loss from discontinued operations — (43 ) Basic and diluted income available to shareholders $ 230 $ 329 Weighted Average Shares Outstanding Basic weighted average shares outstanding 926.1 937.2 Effect of dilutive securities: Stock options, unvested restricted stock and unvested performance share awards 7.2 10.2 Diluted weighted average shares outstanding 933.3 947.4 Antidilutive Securities Options to purchase shares 1.0 0.1 During the three months ended December 31, 2017 and 2016 , the Company declared a dividend of $0.26 and $0.25 , respectively, per share. The Company paid all dividends in the month subsequent to the end of each fiscal quarter. |
Equity and Noncontrolling Inter
Equity and Noncontrolling Interests | 3 Months Ended |
Dec. 31, 2017 | |
Stockholders' Equity Note [Abstract] | |
Equity and Noncontrolling Interests | Equity and Noncontrolling Interests Other comprehensive income includes activity relating to discontinued operations. The following schedules present changes in consolidated equity attributable to Johnson Controls and noncontrolling interests (in millions, net of tax): Three Months Ended December 31, 2017 Three Months Ended December 31, 2016 Equity Attributable to Johnson Controls International plc Equity Attributable to Noncontrolling Interests Total Equity Equity Attributable to Johnson Controls International plc Equity Attributable to Noncontrolling Interests Total Equity Beginning balance, September 30, $ 20,447 $ 920 $ 21,367 $ 24,118 $ 972 $ 25,090 Total comprehensive income (loss): Net income 230 28 258 329 36 365 Foreign currency translation adjustments 58 16 74 (659 ) (35 ) (694 ) Realized and unrealized gains on derivatives 1 1 2 — 4 4 Realized and unrealized losses on marketable securities — — — (2 ) — (2 ) Other comprehensive income (loss) 59 17 76 (661 ) (31 ) (692 ) Comprehensive income (loss) 289 45 334 (332 ) 5 (327 ) Other changes in equity: Cash dividends—ordinary shares (242 ) — (242 ) (236 ) — (236 ) Repurchases of ordinary shares (150 ) — (150 ) — — — Change in noncontrolling interest share — — — — (20 ) (20 ) Adoption of ASU 2016-09 179 — 179 — — — Spin-off of Adient — — — (4,020 ) (138 ) (4,158 ) Other, including options exercised 12 — 12 47 — 47 Ending balance, December 31 $ 20,535 $ 965 $ 21,500 $ 19,577 $ 819 $ 20,396 As previously disclosed, during the quarter ended December 31, 2017, the Company adopted ASU No. 2016-09. As a result, the Company recognized deferred tax assets of $179 million related to certain operating loss carryforwards resulting from the exercise of employee stock options and restricted stock vestings on a modified retrospective basis through a cumulative-effect adjustment to retained earnings as of October 1, 2017. As previously disclosed, on October 31, 2016, the Company completed the Adient spin-off. As a result of the spin-off, the Company divested net assets of approximately $4.0 billion . Following the Tyco Merger, the Company adopted, subject to the ongoing existence of sufficient distributable reserves, the existing Tyco International plc $1 billion share repurchase program in September 2016. In December 2017, the Company's Board of Directors approved an $1 billion increase to its share repurchase authorization. The share repurchase program does not have an expiration date and may be amended or terminated by the Board of Directors at any time without prior notice. For the three month period ended December 31, 2017 , the Company repurchased $150 million of its ordinary shares. For the three month period ended December 31, 2016 , the Company had no repurchases of its ordinary shares. As of December 31, 2017, approximately $1.2 billion remains available under the share repurchase program. The Company consolidates certain subsidiaries in which the noncontrolling interest party has within its control the right to require the Company to redeem all or a portion of its interest in the subsidiary. The redeemable noncontrolling interests are reported at their estimated redemption value. Any adjustment to the redemption value impacts retained earnings but does not impact net income. Redeemable noncontrolling interests which are redeemable only upon future events, the occurrence of which is not currently probable, are recorded at carrying value. The following schedules present changes in the redeemable noncontrolling interests (in millions): Three Months Ended December 31, 2017 2016 Beginning balance, September 30 $ 211 $ 234 Net income 13 13 Foreign currency translation adjustments 5 (9 ) Realized and unrealized losses on derivatives (3 ) — Dividends — (43 ) Spin-off of Adient — (36 ) Ending balance, December 31 $ 226 $ 159 The following schedules present changes in accumulated other comprehensive income ("AOCI") attributable to Johnson Controls (in millions, net of tax): Three Months Ended December 31, 2017 2016 Foreign currency translation adjustments ("CTA") Balance at beginning of period $ (481 ) $ (1,152 ) Aggregate adjustment for the period (net of tax effect of $1 and $5)* 58 (659 ) Adient spin-off impact (net of tax effect of $0) — 563 Balance at end of period (423 ) (1,248 ) Realized and unrealized gains (losses) on derivatives Balance at beginning of period 6 4 Current period changes in fair value (net of tax effect of $3 and $4) 6 6 Reclassification to income (net of tax effect of $(2) and $(3)) ** (5 ) (6 ) Adient spin-off impact (net of tax effect of $0 and $6) — 16 Balance at end of period 7 20 Realized and unrealized gains (losses) on marketable securities Balance at beginning of period 4 (1 ) Current period changes in fair value (net of tax effect of $0) — (2 ) Balance at end of period 4 (3 ) Pension and postretirement plans Balance at beginning of period (2 ) (4 ) Adient spin-off impact (net of tax effect of $0) — 2 Balance at end of period (2 ) (2 ) Accumulated other comprehensive loss, end of period $ (414 ) $ (1,233 ) * During the three months ended December 31, 2017, $12 million of cumulative CTA were recognized as part of the divestiture-related gain recognized as a result of the divestiture of Scott Safety. ** Refer to Note 15, "Derivative Instruments and Hedging Activities," of the notes to consolidated financial statements for disclosure of the line items in the consolidated statements of income affected by reclassifications from AOCI into income related to derivatives. |
Derivative Instruments and Hedg
Derivative Instruments and Hedging Activities | 3 Months Ended |
Dec. 31, 2017 | |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | |
Derivative Instruments and Hedging Activities | Derivative Instruments and Hedging Activities The Company selectively uses derivative instruments to reduce market risk associated with changes in foreign currency, commodities, stock-based compensation liabilities and interest rates. Under Company policy, the use of derivatives is restricted to those intended for hedging purposes; the use of any derivative instrument for speculative purposes is strictly prohibited. A description of each type of derivative utilized by the Company to manage risk is included in the following paragraphs. In addition, refer to Note 16, "Fair Value Measurements," of the notes to consolidated financial statements for information related to the fair value measurements and valuation methods utilized by the Company for each derivative type. Cash Flow Hedges The Company has global operations and participates in the foreign exchange markets to minimize its risk of loss from fluctuations in foreign currency exchange rates. The Company selectively hedges anticipated transactions that are subject to foreign exchange rate risk primarily using foreign currency exchange hedge contracts. The Company hedges 70% to 90% of the nominal amount of each of its known foreign exchange transactional exposures. As cash flow hedges under ASC 815, "Derivatives and Hedging," the hedge gains or losses due to changes in fair value are initially recorded as a component of AOCI and are subsequently reclassified into earnings when the hedged transactions occur and affect earnings. These contracts were highly effective in hedging the variability in future cash flows attributable to changes in currency exchange rates during the three months ended December 31, 2017 and 2016 . The Company selectively hedges anticipated transactions that are subject to commodity price risk, primarily using commodity hedge contracts, to minimize overall price risk associated with the Company’s purchases of lead, copper, tin, aluminum and polypropylene in cases where commodity price risk cannot be naturally offset or hedged through supply base fixed price contracts. Commodity risks are systematically managed pursuant to policy guidelines. As cash flow hedges, the effective portion of the hedge gains or losses due to changes in fair value are initially recorded as a component of AOCI and are subsequently reclassified into earnings when the hedged transactions, typically sales, occur and affect earnings. The maturities of the commodity hedge contracts coincide with the expected purchase of the commodities. These contracts were highly effective in hedging the variability in future cash flows attributable to changes in commodity prices during the three months ended December 31, 2017 and 2016 . The Company had the following outstanding contracts to hedge forecasted commodity purchases: Volume Outstanding as of Commodity Units December 31, 2017 September 30, 2017 Copper Metric Tons 3,765 1,962 Polypropylene Metric Tons 21,762 19,563 Lead Metric Tons 13,791 24,705 Aluminum Metric Tons 5,295 2,169 Tin Metric Tons 1,655 1,715 Fair Value Hedges The Company selectively uses interest rate swaps to reduce market risk associated with changes in interest rates for its fixed-rate bonds. As fair value hedges, the interest rate swaps and related debt balances are valued under a market approach using publicized swap curves. Changes in the fair value of the swap and hedged portion of the debt are recorded in the consolidated statements of income. As of September 30, 2016, the Company had four fixed to floating interest rate swaps totaling $400 million to hedge the coupon of its 2.6% notes that matured in December 2016, three fixed to floating interest rate swaps totaling $300 million to hedge the coupon of its 1.4% notes maturing November 2017 and one fixed to floating interest rate swap totaling $150 million to hedge the coupon of its 7.125% notes maturing July 2017. In December 2016, the four remaining outstanding interest rate swaps were terminated. The Company had no interest rate swaps outstanding at December 31, 2017 and September 30, 2017 , respectively. Net Investment Hedges The Company enters into foreign currency denominated debt obligations to selectively hedge portions of its net investment in non-U.S. subsidiaries. The currency effects of the debt obligations are reflected in the AOCI account within shareholders’ equity attributable to Johnson Controls ordinary shareholders where they offset gains and losses recorded on the Company’s net investments globally. At December 31, 2017 , the Company had one billion euro, 750 million euro, 423 million euro and 58 million euro bonds designated as net investment hedges in the Company's net investment in Europe and 35 billion yen of foreign denominated debt designated as net investment hedge in the Company's net investment in Japan. At September 30, 2017 , the Company had one billion euro, 423 million euro and 58 million euro bonds designated as net investment hedges in the Company's net investment in Europe and 35 billion yen of foreign denominated debt designated as net investment hedge in the Company's net investment in Japan. Derivatives Not Designated as Hedging Instruments The Company selectively uses equity swaps to reduce market risk associated with certain of its stock-based compensation plans, such as its deferred compensation plans. These equity compensation liabilities increase as the Company’s stock price increases and decrease as the Company’s stock price decreases. In contrast, the value of the swap agreement moves in the opposite direction of these liabilities, allowing the Company to fix a portion of the liabilities at a stated amount. As of December 31, 2017 , the Company hedged approximately 1.8 million shares of its ordinary shares, which have a cost basis of $73 million . As of September 30, 2017 , the Company hedged approximately 1.4 million shares of its ordinary shares, which have a cost basis of $58 million . The Company also holds certain foreign currency forward contracts which do not qualify for hedge accounting treatment. The change in fair value of foreign currency exchange derivatives not designated as hedging instruments under ASC 815 are recorded in the consolidated statements of income. Fair Value of Derivative Instruments The following table presents the location and fair values of derivative instruments and hedging activities included in the Company’s consolidated statements of financial position (in millions): Derivatives and Hedging Activities Designated as Hedging Instruments under ASC 815 Derivatives and Hedging Activities Not Designated as Hedging Instruments under ASC 815 December 31, September 30, December 31, September 30, 2017 2017 2017 2017 Other current assets Foreign currency exchange derivatives $ 35 $ 27 $ 21 $ — Commodity derivatives 6 9 — — Other noncurrent assets Equity swap — — 68 55 Total assets $ 41 $ 36 $ 89 $ 55 Other current liabilities Foreign currency exchange derivatives $ 25 $ 21 $ 16 $ 25 Commodity derivatives 1 1 — — Long-term debt Foreign currency denominated debt 2,981 2,058 — — Total liabilities $ 3,007 $ 2,080 $ 16 $ 25 Counterparty Credit Risk The use of derivative financial instruments exposes the Company to counterparty credit risk. The Company has established policies and procedures to limit the potential for counterparty credit risk, including establishing limits for credit exposure and continually assessing the creditworthiness of counterparties. As a matter of practice, the Company deals with major banks worldwide having strong investment grade long-term credit ratings. To further reduce the risk of loss, the Company generally enters into International Swaps and Derivatives Association ("ISDA") master netting agreements with substantially all of its counterparties. The Company's derivative contracts do not contain any credit risk related contingent features and do not require collateral or other security to be furnished by the Company or the counterparties. The Company's exposure to credit risk associated with its derivative instruments is measured on an individual counterparty basis, as well as by groups of counterparties that share similar attributes. The Company does not anticipate any non-performance by any of its counterparties, and the concentration of risk with financial institutions does not present significant credit risk to the Company. The Company enters into ISDA master netting agreements with counterparties that permit the net settlement of amounts owed under the derivative contracts. The master netting agreements generally provide for net settlement of all outstanding contracts with a counterparty in the case of an event of default or a termination event. The Company has not elected to offset the fair value positions of the derivative contracts recorded in the consolidated statements of financial position. Collateral is generally not required of the Company or the counterparties under the master netting agreements. As of December 31, 2017 and September 30, 2017 , no cash collateral was received or pledged under the master netting agreements. The gross and net amounts of derivative assets and liabilities were as follows (in millions): Fair Value of Assets Fair Value of Liabilities December 31, September 30, December 31, September 30, 2017 2017 2017 2017 Gross amount recognized $ 130 $ 91 $ 3,023 $ 2,105 Gross amount eligible for offsetting (27 ) (16 ) (27 ) (16 ) Net amount $ 103 $ 75 $ 2,996 $ 2,089 Derivatives Impact on the Statements of Income and Statements of Comprehensive Income The following table presents the effective portion of pre-tax gains (losses) recorded in other comprehensive income (loss) related to cash flow hedges for the three months ended December 31, 2017 and 2016 (in millions): Derivatives in ASC 815 Cash Flow Hedging Relationships Three Months Ended December 31, 2017 2016 Foreign currency exchange derivatives $ 6 $ 8 Commodity derivatives 3 2 Total $ 9 $ 10 The following tables present the location and amount of the effective portion of pre-tax gains (losses) on cash flow hedges reclassified from AOCI into the Company’s consolidated statements of income for the three months ended December 31, 2017 and 2016 (in millions): Derivatives in ASC 815 Cash Flow Hedging Relationships Location of Gain (Loss) Reclassified from AOCI into Income Three Months Ended December 31, 2017 2016 Foreign currency exchange derivatives Cost of sales $ 2 $ 8 Commodity derivatives Cost of sales 5 1 Total $ 7 $ 9 The following table presents the location and amount of pre-tax gains (losses) on fair value hedges recognized in the Company’s consolidated statements of income for the three months ended December 31, 2017 and 2016 (in millions): Derivatives in ASC 815 Fair Value Hedging Relationships Location of Gain (Loss) Recognized in Income on Derivative Three Months Ended December 31, 2017 2016 Interest rate swap Net financing charges $ — $ (1 ) Fixed rate debt swapped to floating Net financing charges — 2 Total $ — $ 1 The following table presents the location and amount of pre-tax gains (losses) on derivatives not designated as hedging instruments recognized in the Company’s consolidated statements of income for the three months ended December 31, 2017 and 2016 (in millions): Amount of Gain (Loss) Recognized in Income on Derivative Derivatives Not Designated as Hedging Instruments under ASC 815 Location of Gain (Loss) Recognized in Income on Derivative Three Months Ended December 31, 2017 2016 Foreign currency exchange derivatives Cost of sales $ 2 $ 1 Foreign currency exchange derivatives Net financing charges 4 4 Foreign currency exchange derivatives Income tax provision 2 (3 ) Foreign currency exchange derivatives Income (loss) from discontinued operations — 5 Equity swap Selling, general and administrative (2 ) — Total $ 6 $ 7 The effective portion of pre-tax gains (losses) recorded in CTA within other comprehensive income (loss) related to net investment hedges were $(36) million and $47 million for the three months ended December 31, 2017 and 2016 , respectively. For the three months ended December 31, 2017 and 2016 , no gains or losses were reclassified from CTA into income for the Company’s outstanding net investment hedges. |
Fair Value Measurements
Fair Value Measurements | 3 Months Ended |
Dec. 31, 2017 | |
Fair Value Disclosures [Abstract] | |
Fair Value Measurements | Fair Value Measurements ASC 820, "Fair Value Measurement," defines fair value as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. ASC 820 also establishes a three-level fair value hierarchy that prioritizes information used in developing assumptions when pricing an asset or liability as follows: Level 1: Observable inputs such as quoted prices in active markets for identical assets or liabilities; Level 2: Quoted prices in active markets for similar assets or liabilities, quoted prices for identical or similar assets or liabilities in markets that are not active, or inputs, other than quoted prices in active markets, that are observable either directly or indirectly; and Level 3: Unobservable inputs where there is little or no market data, which requires the reporting entity to develop its own assumptions. ASC 820 requires the use of observable market data, when available, in making fair value measurements. When inputs used to measure fair value fall within different levels of the hierarchy, the level within which the fair value measurement is categorized is based on the lowest level input that is significant to the fair value measurement. Recurring Fair Value Measurements The following tables present the Company’s fair value hierarchy for those assets and liabilities measured at fair value as of December 31, 2017 and September 30, 2017 (in millions): Fair Value Measurements Using: Total as of December 31, 2017 Quoted Prices in Active Markets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Other current assets Foreign currency exchange derivatives $ 56 $ — $ 56 $ — Commodity derivatives 6 — 6 — Exchange traded funds (fixed income) 1 28 28 — — Other noncurrent assets Investments in marketable common stock 6 6 — — Deferred compensation plan assets 96 96 — — Exchange traded funds (fixed income) 1 142 142 — — Exchange traded funds (equity) 1 113 113 — — Equity swap 68 — 68 — Total assets $ 515 $ 385 $ 130 $ — Other current liabilities Foreign currency exchange derivatives $ 41 $ — $ 41 $ — Commodity derivatives 1 — 1 — Total liabilities $ 42 $ — $ 42 $ — Fair Value Measurements Using: Total as of September 30, 2017 Quoted Prices in Active Markets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Other current assets Foreign currency exchange derivatives $ 27 $ — $ 27 $ — Commodity derivatives 9 — 9 — Exchange traded funds (fixed income) 1 14 14 — — Other noncurrent assets Investments in marketable common stock 10 10 — — Deferred compensation plan assets 92 92 — — Exchange traded funds (fixed income) 1 155 155 — — Exchange traded funds (equity) 1 100 100 — — Equity swap 55 — 55 — Total assets $ 462 $ 371 $ 91 $ — Other current liabilities Foreign currency exchange derivatives $ 46 $ — $ 46 $ — Commodity derivatives 1 — 1 — Total liabilities $ 47 $ — $ 47 $ — 1 Classified as restricted investments for payment of asbestos liabilities. See Note 21, "Commitments and Contingencies," of the notes to consolidated financial statements for further details. Valuation Methods Foreign currency exchange derivatives : The foreign currency exchange derivatives are valued under a market approach using publicized spot and forward prices. Commodity derivatives : The commodity derivatives are valued under a market approach using publicized prices, where available, or dealer quotes. Equity swaps : The equity swaps are valued under a market approach as the fair value of the swaps is equal to the Company’s stock price at the reporting period date. Deferred compensation plan assets : Assets held in the deferred compensation plans will be used to pay benefits under certain of the Company's non-qualified deferred compensation plans. The investments primarily consist of mutual funds which are publicly traded on stock exchanges and are valued using a market approach based on the quoted market prices. Investments in marketable common stock and exchange traded funds : Investments in marketable common stock and exchange traded funds are valued using a market approach based on the quoted market prices, where available, or broker/dealer quotes of identical or comparable instruments. The Company recorded unrealized gains of $14 million and unrealized losses of $10 million on these investments as of December 31, 2017 within AOCI in the consolidated statements of financial position. The Company recorded unrealized gains of $10 million and unrealized losses of $6 million on these investments as of September 30, 2017 within AOCI in the consolidated statements of financial position. The fair values of cash and cash equivalents, accounts receivable, short-term debt and accounts payable approximate their carrying values. The fair value of long-term debt was $11.5 billion and $12.7 billion at December 31, 2017 and September 30, 2017 , respectively. The fair value of public debt was $9.3 billion and $8.6 billion , at December 31, 2017 and September 30, 2017 , respectively, which was determined primarily using market quotes classified as Level 1 inputs within the ASC 820 fair value hierarchy. The fair value of other long-term debt was $2.2 billion and $4.1 billion at December 31, 2017 and September 30, 2017 , respectively, which was determined based on quoted market prices for similar instruments classified as Level 2 inputs within the ASC 820 fair value hierarchy. |
Impairment of Long-Lived Assets
Impairment of Long-Lived Assets (Notes) | 3 Months Ended |
Dec. 31, 2017 | |
Disclosure of Impairment of Long-Lived Assets [Abstract] | |
Impairment of Long-Lived Assets | Impairment of Long-Lived Assets The Company reviews long-lived assets, including tangible assets and other intangible assets with definitive lives, for impairment whenever events or changes in circumstances indicate that the asset’s carrying amount may not be recoverable. The Company conducts its long-lived asset impairment analyses in accordance with ASC 360-10-15, "Impairment or Disposal of Long-Lived Assets" and ASC 350-30, "General Intangibles Other than Goodwill." ASC 360-10-15 requires the Company to group assets and liabilities at the lowest level for which identifiable cash flows are largely independent of the cash flows of other assets and liabilities and evaluate the asset group against the sum of the undiscounted future cash flows. If the undiscounted cash flows do not indicate the carrying amount of the asset group is recoverable, an impairment charge is measured as the amount by which the carrying amount of the asset group exceeds its fair value based on discounted cash flow analysis or appraisals. ASC 350-30 requires intangible assets acquired in a business combination that are used in research and development activities to be considered indefinite lived until the completion or abandonment of the associated research and development efforts. During the period that those assets are considered indefinite lived, they shall not be amortized but shall be tested for impairment annually and more frequently if events or changes in circumstances indicate that it is more likely than not that the asset is impaired. If the carrying amount of an intangible asset exceeds its fair value, an entity shall recognize an impairment loss in an amount equal to that excess. In the first quarter of fiscal 2018, the Company concluded it had a triggering event requiring assessment of impairment for certain of its long-lived assets in conjunction with its restructuring actions announced in fiscal 2018. As a result, the Company reviewed the long-lived assets for impairment and recorded $30 million of asset impairment charges within restructuring and impairment costs in the consolidated statements of income. Of the total impairment charges, $23 million related to the Global Products segment, $5 million related to Corporate assets and $2 million related to the Power Solutions segment. Refer to Note 8, "Significant Restructuring and Impairment Costs," of the notes to consolidated financial statements for additional information. The impairments were measured under a market approach utilizing an appraisal to determine fair values of the impaired assets. This method is consistent with the methods the Company employed in prior periods to value other long-lived assets. The inputs utilized in the analyses are classified as Level 3 inputs within the fair value hierarchy as defined in ASC 820, "Fair Value Measurement." In the first quarter of fiscal 2017, the Company concluded it had a triggering event requiring assessment of impairment for certain of its long-lived assets in conjunction with its restructuring actions announced in fiscal 2017. As a result, the Company reviewed the long-lived assets for impairment and recorded $15 million of asset impairment charges within restructuring and impairment costs in the consolidated statements of income, all of which related to Corporate assets. Refer to Note 8, "Significant Restructuring and Impairment Costs," of the notes to consolidated financial statements for additional information. The impairments were measured under a market approach utilizing an appraisal to determine fair values of the impaired assets. This method is consistent with the methods the Company employed in prior periods to value other long-lived assets. The inputs utilized in the analyses are classified as Level 3 inputs within the fair value hierarchy as defined in ASC 820, "Fair Value Measurement." At December 31, 2017 and 2016 , the Company concluded it did not have any other triggering events requiring assessment of impairment of its long-lived assets. |
Segment Information
Segment Information | 3 Months Ended |
Dec. 31, 2017 | |
Segment Reporting, Disclosure of Entity's Reportable Segments [Abstract] | |
Segment Information | Segment Information five reportable segments for financial reporting purposes. The Company’s five reportable segments are presented in the context of its two primary businesses – Building Technologies & Solutions and Power Solutions. Effective July 1, 2017, the Company reorganized the reportable segments within its Building Technologies & Solutions business to align with its new management reporting structure and business activities. Prior to this reorganization, Building Technologies & Solutions was comprised of five reportable segments for financial reporting purposes: Systems and Service North America, Products North America, Asia, Rest of World and Tyco. As a result of this change, Building Technologies & Solutions is now comprised of four reportable segments for financial reporting purposes: Building Solutions North America, Building Solutions EMEA/LA, Building Solutions Asia Pacific and Global Products. Historical information has been revised to reflect the new Building Technologies & Solutions segments. A summary of the significant Building Technologies & Solutions reportable segment changes is as follows: • The “Systems and Service North America” segment is now part of the new “Building Solutions North America” reportable segment. • The North America Unitary Products business, Air Distribution Technologies business and refrigeration systems business, as well as HVAC products installed for Marine customers, previously included in the “Products North America” segment, are now part of the new reportable segment “Global Products.” The systems and products installation business for U.S. Navy customers, previously included in the “Products North America” segment, is now part of the new “Building Solutions North America” reportable segment. • The systems and service business within the former “Asia” segment is now part of the new “Building Solutions Asia Pacific” reportable segment. The HVAC products manufacturing business and the Johnson Controls-Hitachi joint venture, previously part of the “Asia” segment, are now part of the new “Global Products” reportable segment. • The systems and service businesses in Europe, the Middle East and Latin America within the former “Rest of World” segment are now part of the new “Building Solutions EMEA/LA” reportable segment. The HVAC products manufacturing businesses, previously part of the “Rest of World” segment, are now part of the new “Global Products” reportable segment. • As the Company has integrated the legacy Tyco business with its legacy Building Efficiency business for segment reporting purposes, Tyco is no longer a separate reportable segment. The Tyco businesses are now included throughout the new reportable segments. Building Technologies & Solutions • Building Solutions North America designs, sells, installs, and services HVAC and controls systems, integrated electronic security systems (including monitoring), and integrated fire detection and suppression systems for commercial, industrial, retail, small business, institutional and governmental customers in North America. Building Solutions North America also provides energy efficiency solutions and technical services, including inspection, scheduled maintenance, and repair and replacement of mechanical and control systems, to non-residential building and industrial applications in the North American marketplace. • Building Solutions EMEA/LA designs, sells, installs, and services HVAC, controls, refrigeration, integrated electronic security, integrated fire detection and suppression systems, and provides technical services to markets in Europe, the Middle East, Africa and Latin America. • Building Solutions Asia Pacific designs, sells, installs, and services HVAC, controls, refrigeration, integrated electronic security, integrated fire detection and suppression systems, and provides technical services to the Asia Pacific marketplace. • Global Products designs and produces heating and air conditioning for residential and commercial applications, and markets products and refrigeration systems to replacement and new construction market customers globally. The Global Products business also designs, manufactures and sells fire protection and security products, including intrusion security, anti-theft devices, and access control and video management systems, for commercial, industrial, retail, residential, small business, institutional and governmental customers worldwide. Global Products also includes the Johnson Controls-Hitachi joint venture, which was formed October 1, 2015, and included the Scott Safety business, prior to its sale on October 4, 2017. Power Solutions Power Solutions services both automotive original equipment manufacturers and the battery aftermarket by providing advanced battery technology, coupled with systems engineering, marketing and service expertise. Management evaluates the performance of its business segments primarily on segment earnings before interest, taxes and amortization ("EBITA"), which represents income from continuing operations before income taxes and noncontrolling interests, excluding general corporate expenses, intangible asset amortization, net financing charges, significant restructuring and impairment costs, and the net mark-to-market adjustments related to pension and postretirement plans. Financial information relating to the Company’s reportable segments is as follows (in millions): Net Sales Three Months Ended 2017 2016 Building Technologies & Solutions Building Solutions North America $ 2,012 $ 1,942 Building Solutions EMEA/LA 915 875 Building Solutions Asia Pacific 597 575 Global Products 1,781 1,794 5,305 5,186 Power Solutions 2,130 1,900 Total net sales $ 7,435 $ 7,086 Segment EBITA Three Months Ended 2017 2016 Building Technologies & Solutions Building Solutions North America $ 227 $ 196 Building Solutions EMEA/LA 69 49 Building Solutions Asia Pacific 74 63 Global Products 286 127 656 435 Power Solutions 384 389 Total segment EBITA $ 1,040 $ 824 Corporate expenses $ (134 ) $ (193 ) Amortization of intangible assets (94 ) (149 ) Restructuring and impairment costs (158 ) (78 ) Net mark-to-market adjustments on pension plans — 117 Net financing charges (116 ) (136 ) Income from continuing operations before income taxes $ 538 $ 385 |
Guarantees
Guarantees | 3 Months Ended |
Dec. 31, 2017 | |
Guarantees [Abstract] | |
Guarantees | Guarantees Certain of the Company's subsidiaries at the business segment level have guaranteed the performance of third-parties and provided financial guarantees for uncompleted work and financial commitments. The terms of these guarantees vary with end dates ranging from the current fiscal year through the completion of such transactions and would typically be triggered in the event of nonperformance. Performance under the guarantees, if required, would not have a material effect on the Company's financial position, results of operations or cash flows. The Company offers warranties to its customers depending upon the specific product and terms of the customer purchase agreement. A typical warranty program requires that the Company replace defective products within a specified time period from the date of sale. The Company records an estimate for future warranty-related costs based on actual historical return rates and other known factors. Based on analysis of return rates and other factors, the Company’s warranty provisions are adjusted as necessary. The Company monitors its warranty activity and adjusts its reserve estimates when it is probable that future warranty costs will be different than those estimates. The Company’s product warranty liability for continuing operations is recorded in the consolidated statements of financial position in other current liabilities if the warranty is less than one year and in other noncurrent liabilities if the warranty extends longer than one year. The changes in the carrying amount of the Company’s total product warranty liability, including extended warranties, for the three months ended December 31, 2017 and 2016 were as follows (in millions): Three Months Ended 2017 2016 Balance at beginning of period $ 409 $ 374 Accruals for warranties issued during the period 84 82 Accruals from acquisition and divestitures — (1 ) Accruals related to pre-existing warranties (3 ) (6 ) Settlements made (in cash or in kind) during the period (77 ) (73 ) Currency translation 2 (6 ) Balance at end of period $ 415 $ 370 As a result of the Tyco Merger in the fourth quarter of fiscal 2016, the Company recorded, as part of the acquired liabilities of Tyco, $290 million of post sale contingent tax indemnification liabilities which is generally recorded within other noncurrent liabilities in the consolidated statements of financial position. The liabilities are recorded at fair value and relate to certain tax related matters borne by the buyer of previously divested subsidiaries of Tyco which Tyco has indemnified certain parties and the amounts are probable of being paid. At December 31, 2017 and September 30, 2017, the Company recorded liabilities of $272 million and $290 million , respectively. Of the $272 million recorded as of December 31, 2017 , $237 million is related to prior divested businesses and the remainder relates to Tyco’s tax sharing agreements from its 2007 and 2012 spin-off transactions. These are certain guarantees or indemnifications extended among Tyco, Medtronic, TE Connectivity, ADT and Pentair in accordance with the terms of the 2007 and 2012 separation and tax sharing agreements. In addition, the Company has recorded $9 million and $11 million of tax indemnification liabilities as of December 31, 2017 and September 30, 2017, respectively, related to other divestitures. |
TIFSA (Notes)
TIFSA (Notes) | 3 Months Ended |
Dec. 31, 2017 | |
Condensed Financial Information of Parent Company Only Disclosure [Abstract] | |
Tyco International Finance S.A. | Tyco International Finance S.A. Tyco International Finance S.A. (" TIFSA"), a 100% owned subsidiary of the Company, has public debt securities outstanding which, as of September 30, 2016, were fully and unconditionally guaranteed by Johnson Controls and by Tyco Fire & Security Finance S.C.A. ("TIFSCA"), a wholly owned subsidiary of the Company and parent company of TIFSA. During the first quarter of fiscal 2017, the guarantees were removed. The following tables present condensed consolidating financial information for Johnson Controls, TIFSCA, TIFSA and all other subsidiaries. Condensed financial information for the Company, TIFSCA and TIFSA on a stand-alone basis is presented using the equity method of accounting for subsidiaries. CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS For the Three Months Ended December 31, 2017 (in millions) Johnson Controls International plc Tyco Fire & Security Finance SCA Tyco International Finance S.A. Other Subsidiaries Consolidating Adjustments Total Net sales $ — $ — $ — $ 7,435 $ — $ 7,435 Cost of sales — — — 5,266 — 5,266 Gross profit — — — 2,169 — 2,169 Selling, general and administrative expenses (3 ) — — (1,414 ) — (1,417 ) Restructuring and impairment costs — — — (158 ) — (158 ) Net financing charges (50 ) 1 (2 ) (65 ) — (116 ) Equity income 285 188 142 60 (615 ) 60 Intercompany interest and fees (2 ) 85 (29 ) (54 ) — — Income from continuing operations before income taxes 230 274 111 538 (615 ) 538 Income tax provision — — — 267 — 267 Net income 230 274 111 271 (615 ) 271 Income from continuing operations attributable to noncontrolling interests — — — 41 — 41 Net income attributable to Johnson Controls $ 230 $ 274 $ 111 $ 230 $ (615 ) $ 230 CONDENSED CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME (LOSS) For the Three Months Ended December 31, 2017 (in millions) Johnson Controls International plc Tyco Fire & Security Finance SCA Tyco International Finance S.A. Other Subsidiaries Consolidating Adjustments Total Net income $ 230 $ 274 $ 111 $ 271 $ (615 ) $ 271 Other comprehensive income (loss), net of tax Foreign currency translation adjustments 58 (7 ) (1 ) 53 (24 ) 79 Realized and unrealized gains (losses) on derivatives 1 — — (1 ) (1 ) (1 ) Realized and unrealized gains (losses) on marketable securities — — (4 ) 4 — — Other comprehensive income (loss) 59 (7 ) (5 ) 56 (25 ) 78 Total comprehensive income 289 267 106 327 (640 ) 349 Comprehensive income attributable to noncontrolling interests — — — 60 — 60 Comprehensive income attributable to Johnson Controls $ 289 $ 267 $ 106 $ 267 $ (640 ) $ 289 CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS For the Three Months Ended December 31, 2016 (in millions) Johnson Controls International plc Tyco Fire & Security Finance SCA Tyco International Finance S.A. Other Subsidiaries Consolidating Adjustments Total Net sales $ — $ — $ — $ 7,086 $ — $ 7,086 Cost of sales — — — 4,972 — 4,972 Gross profit — — — 2,114 — 2,114 Selling, general and administrative expenses (2 ) — 1 (1,569 ) — (1,570 ) Restructuring and impairment costs — — — (78 ) — (78 ) Net financing charges (19 ) — (19 ) (98 ) — (136 ) Equity income (loss) 318 (286 ) (110 ) 55 78 55 Intercompany interest and fees 32 — 17 (49 ) — — Income (loss) from continuing operations before income taxes 329 (286 ) (111 ) 375 78 385 Income tax benefit — — — (27 ) — (27 ) Income (loss) from continuing operations 329 (286 ) (111 ) 402 78 412 Income (loss) from sale of intercompany investment, net of tax — — (935 ) — 935 — Loss from discontinued operations, net of tax — — — (34 ) — (34 ) Net income (loss) 329 (286 ) (1,046 ) 368 1,013 378 Income from continuing operations attributable to noncontrolling interests — — — 40 — 40 Income from discontinued operations attributable to noncontrolling interests — — — 9 — 9 Net income (loss) attributable to Johnson Controls $ 329 $ (286 ) $ (1,046 ) $ 319 $ 1,013 $ 329 CONDENSED CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME (LOSS) For the Three Months Ended December 31, 2016 (in millions) Johnson Controls International plc Tyco Fire & Security Finance SCA Tyco International Finance S.A. Other Subsidiaries Consolidating Adjustments Total Net income (loss) $ 329 $ (286 ) $ (1,046 ) $ 368 $ 1,013 $ 378 Other comprehensive income (loss), net of tax Foreign currency translation adjustments (659 ) — 27 (730 ) 659 (703 ) Realized and unrealized gains on derivatives — — — 4 — 4 Realized and unrealized gains (losses) on marketable securities (2 ) — — (2 ) 2 (2 ) Other comprehensive income (loss) (661 ) — 27 (728 ) 661 (701 ) Total comprehensive income (loss) (332 ) (286 ) (1,019 ) (360 ) 1,674 (323 ) Comprehensive income attributable to noncontrolling interests — — — 9 — 9 Comprehensive income (loss) attributable to Johnson Controls $ (332 ) $ (286 ) $ (1,019 ) $ (369 ) $ 1,674 $ (332 ) CONDENSED CONSOLIDATING STATEMENT OF FINANCIAL POSITION As of December 31, 2017 (in millions) Johnson Controls International plc Tyco Fire & Security Finance SCA Tyco International Finance S.A. Other Subsidiaries Consolidating Adjustments Total Assets Cash and cash equivalents $ 285 $ 108 $ 81 $ 991 $ (913 ) $ 552 Accounts receivable - net — — — 6,731 — 6,731 Inventories — — — 3,459 — 3,459 Intercompany receivables 323 1,824 397 22,957 (25,501 ) — Assets held for sale — — — 40 — 40 Other current assets 46 — 1 1,600 — 1,647 Current assets 654 1,932 479 35,778 (26,414 ) 12,429 Property, plant and equipment - net — — — 6,105 — 6,105 Goodwill 243 — 32 19,442 — 19,717 Other intangible assets - net — — — 6,657 — 6,657 Investments in partially-owned affiliates — — — 1,219 — 1,219 Investments in affiliates 38,975 32,053 21,422 — (92,450 ) — Intercompany loans receivable — 4,140 2,836 9,004 (15,980 ) — Other noncurrent assets 68 — 2 3,570 — 3,640 Total assets $ 39,940 $ 38,125 $ 24,771 $ 81,775 $ (134,844 ) $ 49,767 Liabilities and Equity Short-term debt $ 1,820 $ — $ — $ 607 $ (913 ) $ 1,514 Current portion of long-term debt 49 — 18 24 — 91 Accounts payable 1 — — 4,019 — 4,020 Accrued compensation and benefits 1 — — 882 — 883 Deferred revenue — — — 1,368 — 1,368 Intercompany payables 3,753 18,978 1,958 812 (25,501 ) — Other current liabilities 376 1 24 2,969 — 3,370 Current liabilities 6,000 18,979 2,000 10,681 (26,414 ) 11,246 Long-term debt 8,717 — 153 2,025 — 10,895 Pension and postretirement benefits — — — 896 — 896 Intercompany loans payable 4,688 — 4,316 6,976 (15,980 ) — Other noncurrent liabilities — — 23 4,981 — 5,004 Long-term liabilities 13,405 — 4,492 14,878 (15,980 ) 16,795 Redeemable noncontrolling interests — — — 226 — 226 Ordinary shares 9 — — — — 9 Ordinary shares held in treasury (885 ) — — — — (885 ) Other shareholders' equity 21,411 19,146 18,279 55,025 (92,450 ) 21,411 Shareholders’ equity attributable to Johnson Controls 20,535 19,146 18,279 55,025 (92,450 ) 20,535 Noncontrolling interests — — — 965 — 965 Total equity 20,535 19,146 18,279 55,990 (92,450 ) 21,500 Total liabilities and equity $ 39,940 $ 38,125 $ 24,771 $ 81,775 $ (134,844 ) $ 49,767 CONDENSED CONSOLIDATING STATEMENT OF FINANCIAL POSITION As of September 30, 2017 (in millions) Johnson Controls International plc Tyco Fire & Security Finance SCA Tyco International Finance S.A. Other Subsidiaries Consolidating Adjustments Total Assets Cash and cash equivalents $ — $ 107 $ 382 $ 718 $ (886 ) $ 321 Accounts receivable - net — — — 6,666 — 6,666 Inventories — — — 3,209 — 3,209 Intercompany receivables 1,580 1,732 55 4,470 (7,837 ) — Assets held for sale — — — 189 — 189 Other current assets 14 — 1 1,892 — 1,907 Current assets $ 1,594 $ 1,839 $ 438 $ 17,144 $ (8,723 ) $ 12,292 Property, plant and equipment - net — — — 6,121 — 6,121 Goodwill 243 — 32 19,413 — 19,688 Other intangible assets - net — — — 6,741 — 6,741 Investments in partially-owned affiliates — — — 1,191 — 1,191 Investments in affiliates 19,487 31,594 21,132 — (72,213 ) — Intercompany loans receivable 17,908 4,140 2,836 9,004 (33,888 ) — Noncurrent assets held for sale — — — 1,920 — 1,920 Other noncurrent assets 56 — 7 3,868 — 3,931 Total assets $ 39,288 $ 37,573 $ 24,445 $ 65,402 $ (114,824 ) $ 51,884 Liabilities and Equity Short-term debt $ 1,476 $ — $ — $ 624 $ (886 ) $ 1,214 Current portion of long-term debt 307 — 18 69 — 394 Accounts payable — — — 4,271 — 4,271 Accrued compensation and benefits 4 — — 1,067 — 1,071 Deferred revenue — — — 1,279 — 1,279 Liabilities held for sale — — — 72 — 72 Intercompany payables 4,236 1,055 1,886 660 (7,837 ) — Other current liabilities 324 2 24 3,203 — 3,553 Current liabilities 6,347 1,057 1,928 11,245 (8,723 ) 11,854 Long-term debt 7,806 — 152 4,006 — 11,964 Pension and postretirement benefits — — — 947 — 947 Intercompany loans payable 4,688 17,908 4,316 6,976 (33,888 ) — Noncurrent liabilities held for sale — — — 173 — 173 Other noncurrent liabilities — — 24 5,344 — 5,368 Long-term liabilities 12,494 17,908 4,492 17,446 (33,888 ) 18,452 Redeemable noncontrolling interest — — — 211 — 211 Ordinary shares 9 — — — — 9 Ordinary shares held in treasury (710 ) — — — — (710 ) Other shareholders' equity 21,148 18,608 18,025 35,580 (72,213 ) 21,148 Shareholders’ equity attributable to Johnson Controls 20,447 18,608 18,025 35,580 (72,213 ) 20,447 Noncontrolling interests — — — 920 — 920 Total equity 20,447 18,608 18,025 36,500 (72,213 ) 21,367 Total liabilities and equity $ 39,288 $ 37,573 $ 24,445 $ 65,402 $ (114,824 ) $ 51,884 CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS For the Three Months Ended December 31, 2017 (in millions) Johnson Controls International plc Tyco Fire & Security Finance SCA Tyco International Finance S.A. Other Subsidiaries Consolidating Adjustments Total Operating Activities Net cash provided (used) by operating activities $ (135 ) $ 1 $ 33 $ (28 ) $ — $ (129 ) Investing Activities Capital expenditures — — — (230 ) — (230 ) Sale of property, plant and equipment — — — 5 — 5 Business divestitures — — — 2,011 — 2,011 Changes in long-term investments — — — (12 ) — (12 ) Net change in intercompany loans receivable 300 — (334 ) 480 (446 ) — Net cash provided (used) by investing activities 300 — (334 ) 2,254 (446 ) 1,774 Financing Activities Increase (decrease) in short-term debt - net 344 — — (13 ) (27 ) 304 Increase in long-term debt 885 — — — — 885 Repayment of long-term debt (259 ) — — (1,975 ) — (2,234 ) Debt financing costs (4 ) — — — — (4 ) Stock repurchases (150 ) — — — — (150 ) Payment of cash dividends (232 ) — — — — (232 ) Proceeds from the exercise of stock options 16 — — — — 16 Employee equity-based compensation withholding taxes — — — (25 ) — (25 ) Net change in intercompany loans payable (480 ) — — 34 446 — Net cash provided (used) by financing activities 120 — — (1,979 ) 419 (1,440 ) Effect of exchange rate changes on cash and cash equivalents — — — 17 — 17 Change in cash held for sale — — — 9 — 9 Increase (decrease) in cash and cash equivalents 285 1 (301 ) 273 (27 ) 231 Cash and cash equivalents at beginning of period — 107 382 718 (886 ) 321 Cash and cash equivalents at end of period $ 285 $ 108 $ 81 $ 991 $ (913 ) $ 552 CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS For the Three Months Ended December 31, 2016 (in millions) Johnson Controls International plc Tyco Fire & Security Finance SCA Tyco International Finance S.A. Other Subsidiaries Consolidating Adjustments Total Operating Activities Net cash provided (used) by operating activities $ 211 $ — $ 32 $ (2,128 ) $ — $ (1,885 ) Investing Activities Capital expenditures — — — (371 ) — (371 ) Sale of property, plant and equipment — — — 2 — 2 Acquisition of businesses, net of cash acquired — — (6 ) 3 — (3 ) Business divestitures — — — 47 — 47 Changes in long-term investments — — — (6 ) — (6 ) Net change in intercompany loans receivable — — 10 — (10 ) — Net cash provided (used) by investing activities — — 4 (325 ) (10 ) (331 ) Financing Activities Increase in short-term debt - net 105 — — 1,460 (253 ) 1,312 Increase in long-term debt — — — 7 — 7 Repayment of long-term debt — — — (763 ) — (763 ) Debt financing costs (6 ) — — — — (6 ) Proceeds from the exercise of stock options 29 — — — — 29 Employee equity-based compensation withholding taxes — — — (25 ) — (25 ) Net change in intercompany loans payable — — — (10 ) 10 — Dividends paid to noncontrolling interests — — — (31 ) — (31 ) Dividend from Adient spin-off — — — 2,050 — 2,050 Cash transferred to Adient related to spin-off — — — (564 ) — (564 ) Cash paid related to prior acquisitions — — — (45 ) — (45 ) Net cash provided (used) by financing activities 128 — — 2,079 (243 ) 1,964 Effect of exchange rate changes on cash and cash equivalents — — — (55 ) — (55 ) Change in cash held for sale — — — 105 — 105 Increase (decrease) in cash and cash equivalents 339 — 36 (324 ) (253 ) (202 ) Cash and cash equivalents at beginning of period 11 — 244 324 — 579 Cash and cash equivalents at end of period $ 350 $ — $ 280 $ — $ (253 ) $ 377 |
Commitments and Contingencies
Commitments and Contingencies | 3 Months Ended |
Dec. 31, 2017 | |
Commitments and Contingencies Disclosure [Abstract] | |
Commitments and Contingencies | Commitments and Contingencies Environmental Matters The Company accrues for potential environmental liabilities when it is probable a liability has been incurred and the amount of the liability is reasonably estimable. As of December 31, 2017 , reserves for environmental liabilities totaled $48 million , of which $10 million was recorded within other current liabilities and $38 million was recorded within other noncurrent liabilities in the consolidated statements of financial position. Reserves for environmental liabilities for continuing operations totaled $51 million at September 30, 2017 . Such potential liabilities accrued by the Company do not take into consideration possible recoveries of future insurance proceeds. They do, however, take into account the likely share other parties will bear at remediation sites. It is difficult to estimate the Company’s ultimate level of liability at many remediation sites due to the large number of other parties that may be involved, the complexity of determining the relative liability among those parties, the uncertainty as to the nature and scope of the investigations and remediation to be conducted, the uncertainty in the application of law and risk assessment, the various choices and costs associated with diverse technologies that may be used in corrective actions at the sites, and the often quite lengthy periods over which eventual remediation may occur. Nevertheless, the Company does not currently believe that any claims, penalties or costs in connection with known environmental matters will have a material adverse effect on the Company’s financial position, results of operations or cash flows. In addition, the Company has identified asset retirement obligations for environmental matters that are expected to be addressed at the retirement, disposal, removal or abandonment of existing owned facilities, primarily in the Power Solutions and Building Technologies & Solutions businesses. At December 31, 2017 and September 30, 2017 , the Company recorded conditional asset retirement obligations of $62 million and $61 million , respectively. Asbestos Matters The Company and certain of its subsidiaries, along with numerous other third parties, are named as defendants in personal injury lawsuits based on alleged exposure to asbestos containing materials. These cases have typically involved product liability claims based primarily on allegations of manufacture, sale or distribution of industrial products that either contained asbestos or were used with asbestos containing components. As of December 31, 2017 , the Company's estimated asbestos related net liability recorded on a discounted basis within the Company's consolidated statements of financial position was $166 million . The net liability within the consolidated statements of financial position was comprised of a liability for pending and future claims and related defense costs of $559 million , of which $54 million was recorded in other current liabilities and $505 million was recorded in other noncurrent liabilities. The Company also maintained separate cash, investments and receivables related to insurance recoveries within the consolidated statements of financial position of $393 million , of which $55 million was recorded in other current assets, and $338 million was recorded in other noncurrent assets. Assets included $10 million of cash and $283 million of investments, which have all been designated as restricted. In connection with the recognition of liabilities for asbestos-related matters, the Company records asbestos-related insurance recoveries that are probable; the amount of such recoveries recorded at December 31, 2017 was $100 million . As of September 30, 2017 , the Company's estimated asbestos related net liability recorded on a discounted basis within the Company's consolidated statements of financial position was $181 million . The net liability within the consolidated statements of financial position was comprised of a liability for pending and future claims and related defense costs of $573 million , of which $48 million was recorded in other current liabilities and $525 million was recorded in other noncurrent liabilities. The Company also maintained separate cash, investments and receivables related to insurance recoveries within the consolidated statements of financial position of $392 million , of which $53 million was recorded in other current assets, and $339 million was recorded in other noncurrent assets. Assets included $22 million of cash and $269 million of investments, which have all been designated as restricted. In connection with the recognition of liabilities for asbestos-related matters, the Company records asbestos-related insurance recoveries that are probable; the amount of such recoveries recorded at September 30, 2017 was $101 million . The Company's estimate of the liability and corresponding insurance recovery for pending and future claims and defense costs is based on the Company's historical claim experience, and estimates of the number and resolution cost of potential future claims that may be filed and is discounted to present value from 2068 (which is the Company's reasonable best estimate of the actuarially determined time period through which asbestos-related claims will be filed against Company affiliates). Asbestos related defense costs are included in the asbestos liability. The Company's legal strategy for resolving claims also impacts these estimates. The Company considers various trends and developments in evaluating the period of time (the look-back period) over which historical claim and settlement experience is used to estimate and value claims reasonably projected to be made through 2068. At least annually, the Company assesses the sufficiency of its estimated liability for pending and future claims and defense costs by evaluating actual experience regarding claims filed, settled and dismissed, and amounts paid in settlements. In addition to claims and settlement experience, the Company considers additional quantitative and qualitative factors such as changes in legislation, the legal environment, and the Company's defense strategy. The Company also evaluates the recoverability of its insurance receivable on an annual basis. The Company evaluates all of these factors and determines whether a change in the estimate of its liability for pending and future claims and defense costs or insurance receivable is warranted. The amounts recorded by the Company for asbestos-related liabilities and insurance-related assets are based on the Company's strategies for resolving its asbestos claims, currently available information, and a number of estimates and assumptions. Key variables and assumptions include the number and type of new claims that are filed each year, the average cost of resolution of claims, the identity of defendants, the resolution of coverage issues with insurance carriers, amount of insurance, and the solvency risk with respect to the Company's insurance carriers. Many of these factors are closely linked, such that a change in one variable or assumption will impact one or more of the others, and no single variable or assumption predominately influences the determination of the Company's asbestos-related liabilities and insurance-related assets. Furthermore, predictions with respect to these variables are subject to greater uncertainty in the later portion of the projection period. Other factors that may affect the Company's liability and cash payments for asbestos-related matters include uncertainties surrounding the litigation process from jurisdiction to jurisdiction and from case to case, reforms of state or federal tort legislation and the applicability of insurance policies among subsidiaries. As a result, actual liabilities or insurance recoveries could be significantly higher or lower than those recorded if assumptions used in the Company's calculations vary significantly from actual results. Insurable Liabilities The Company records liabilities for its workers' compensation, product, general, property and auto liabilities. The determination of these liabilities and related expenses is dependent on claims experience. For most of these liabilities, claims incurred but not yet reported are estimated by utilizing actuarial valuations based upon historical claims experience. At December 31, 2017 and September 30, 2017 , the insurable liabilities totaled $434 million and $445 million , respectively, of which $92 million and $122 million was recorded within other current liabilities, $23 million and $22 million was recorded within accrued compensation and benefits, and $319 million and $301 million was recorded within other noncurrent liabilities in the consolidated statements of financial position, respectively. The Company records receivables from third party insurers when recovery has been determined to be probable. The amount of such receivables recorded at December 31, 2017 was $21 million , of which $6 million was recorded within other current assets and $15 million was recorded within other noncurrent assets. The amount of such receivables recorded at September 30, 2017 was $46 million , of which $31 million was recorded within other current assets and $15 million was recorded within other noncurrent assets. The Company maintains captive insurance companies to manage certain of its insurable liabilities. Arbitration Award In September 2017, the Company was subject to an unfavorable arbitration award of approximately $50 million relating to a contractual dispute with a subcontractor used by the Company at an airport construction project in Doha, Qatar. In connection with the unfavorable arbitration award, the Company recorded a charge of $50 million within selling, general and administrative expenses in the consolidated statements of income in the fourth quarter of fiscal 2017. The airport project is being managed by a steering committee. The Company and the subcontractor were working jointly to document claims for increased costs against the steering committee when the subcontractor initiated the arbitration proceeding against the Company. Pursuant to its arbitration proceeding against the Company, the subcontractor sought to recover costs it alleges it incurred due to project delays, additional work and related financing costs. The Company has filed annulment proceedings with respect to the arbitration award in the local court in Qatar. While the award remains outstanding, a portion of the balance will accrue interest at a statutory rate of 9.56% . In a related action, the Company has initiated an arbitration claim against the steering committee related to costs it incurred in connection with delays of the airport construction project, including costs related to the above award. The arbitrator is expected to issue a decision on the Company’s claims against the steering committee by the end of fiscal 2018. Aqueous Film-Forming Foam Litigation Two of our subsidiaries, Chemguard, Inc. ("Chemguard") and Tyco Fire Products L.P. ("Tyco Fire Products"), have been named, along with other defendant manufacturers, in a number of class action lawsuits relating to the use of fire-fighting foam products by the U.S. Department of Defense (the "DOD") and others for fire suppression purposes and related training exercises. Plaintiffs generally allege that the firefighting foam products manufactured by defendants contain or break down into the chemicals perfluorooctane sulfonate ("PFOS") and perfluorooctanoic acid ("PFOA") and that the use of these products by others at various airbases and airports resulted in the release of these chemicals into the environment and ultimately into communities’ drinking water supplies neighboring those airports and airbases. Plaintiffs generally seek compensatory damages, including damages for alleged personal injuries, medical monitoring, and alleged diminution in property values, and also seek punitive damages and injunctive relief to address remediation of the alleged contamination. As of February 2, 2018, the Company is named in 12 putative class actions in federal courts in three states as set forth below: Colorado • District of Colorado - Bell et al. v. The 3M Company et al., filed on September 18, 2016. • District of Colorado - Bell et al. v. The 3M Company et al., filed on September 18, 2016. • District of Colorado - Davis et al. v. The 3M Company et al., filed on September 22, 2016. The above cases have been consolidated in the U.S. District Court for the District of Colorado, and a hearing on the plaintiffs’ motion for class certification is scheduled for April 2018 with a trial date schedule for April 2019. New York • Eastern District of New York - Green et al. v. The 3M Company et al., filed March 27, 2017 in Supreme Court of the State of New York, Suffolk County, prior to removal to federal court. • Southern District of New York - Adamo et al. v. The Port Authority of NY and NJ et al., filed August 11, 2017 in Supreme Court of the State of New York, Orange County, prior to removal to federal court. • Southern District of New York - Fogarty et al. v. The Port Authority of NY and NJ et al., filed August 11, 2017 in Supreme Court of the State of New York, Orange County, prior to removal to federal court. • Southern District of New York - Miller et al. v. The Port Authority of NY and NJ et al., filed August 11, 2017 in Supreme Court of the State of New York, Orange County, prior to removal to federal court. • Supreme Court of the State of New York, Suffolk County - Singer et al. v. The 3M Company et al., filed October 10, 2017. Chemguard and Tyco Fire Products are also defendants in Ayo, et al. v. The 3M Company, et al ., filed on December 11, 2017 in the Suffolk County Supreme Court of New York. Approximately 32 plaintiffs allege that releases of PFOS and PFOA have contaminated surrounding communities’ water supplies near the Gabreski Air National Guard Base located on Long Island, New York. The plaintiffs assert defective design, failure to warn, negligence, private nuisance, and trespass and seek recovery for alleged diminished property values, personal injury, medical monitoring and punitive damages. Responses to the complaints have not been filed yet in any of the New York actions. Pennsylvania • Eastern District of Pennsylvania - Bates et al. v. The 3M Company et al., filed September 15, 2016. • Eastern District of Pennsylvania - Grande et al. v. The 3M Company et al., filed October 13, 2016. • Eastern District of Pennsylvania - Yockey et al. v. The 3M Company et al., filed October 24, 2016. • Eastern District of Pennsylvania - Fearnley et al. v. The 3M Company et al., filed December 9, 2016. The above cases have been consolidated in the U.S. District Court for the Eastern District of Pennsylvania. The defendants' motion to dismiss the complaint in the consolidated proceeding was denied without prejudice and the cases are currently stayed pending the appeal of an action in which the Company is not a party. In addition to the putative class actions, Chemguard and Tyco Fire Products are also defendants in an action filed by two plaintiffs in the U.S. District Court for the Eastern District of Pennsylvania: Menkes et al. v. The 3M Company et al. , (filed February 7, 2017). The Menkes plaintiffs assert substantive claims and allegations similar to the putative class allegations, but also include personal injury claim. The Company is also on notice of approximately 540 other possible individual product liability claims by filings made in Pennsylvania state court, but complaints have not been filed in those matters, and, under Pennsylvania’s procedural rules, they may or may not result in lawsuits. Chemguard and Tyco Fire Products are also defendants in two cases pending in the U.S. District Court for the District of Massachusetts: Town of Barnstable v. the 3M. Co., et al, (filed Nov. 21, 2016) , and County of Barnstable v. the 3M. Co., et al , (filed January 9, 2017). These municipal plaintiffs generally allege that the use of the defendants’ fire-fighting foam products at a fire training academy and municipal airport released PFOS and PFOA into the town’s water supply wells, allegedly requiring remediation of the town and county property. The defendants have filed a motion to dismiss in County of Barnstable, which was granted without prejudice and the plaintiffs have subsequently filed an amended complaint. The Company is vigorously defending these cases and believes that it has meritorious defenses to class certification and the claims asserted. However, there are numerous factual and legal issues to be resolved in connection with these claims, and it is extremely difficult to predict the outcome or ultimate financial exposure, if any, represented by these matters, but there can be no assurance that any such exposure will not be material. The Company is also pursuing insurance coverage for these matters. The Company is involved in various lawsuits, claims and proceedings incident to the operation of its businesses, including those pertaining to product liability, environmental, safety and health, intellectual property, employment, commercial and contractual matters, and various other casualty matters. Although the outcome of litigation cannot be predicted with certainty and some lawsuits, claims or proceedings may be disposed of unfavorably to us, it is management’s opinion that none of these will have a material adverse effect on the Company’s financial position, results of operations or cash flows. Costs related to such matters were not material to the periods presented. |
Related Party Transactions (Not
Related Party Transactions (Notes) | 3 Months Ended |
Dec. 31, 2017 | |
Related Party Transactions [Abstract] | |
Related Party Transactions | Related Party Transactions In the ordinary course of business, the Company enters into transactions with related parties, such as equity affiliates. Such transactions consist of facility management services, the sale or purchase of goods and other arrangements. The net sales to and purchases from related parties included in the consolidated statements of income were $242 million and $41 million , respectively, for the three months ended December 31, 2017 ; and $225 million and $49 million , respectively, for the three months ended December 31, 2016 . The following table sets forth the amount of accounts receivable due from and payable to related parties in the consolidated statements of financial position (in millions): December 31, 2017 September 30, 2017 Receivable from related parties $ 122 $ 108 Payable to related parties 34 50 The Company has also provided financial support to certain of its VIE's; see Note 1, "Financial Statements," of the notes to consolidated financial statements for additional information. |
Financial Statements (Tables)
Financial Statements (Tables) | 3 Months Ended |
Dec. 31, 2017 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Carrying Amounts and Classification of Assets and Liabilities for Consolidated VIEs | The carrying amounts and classification of assets (none of which are restricted) and liabilities included in the Company’s consolidated statements of financial position for the consolidated VIE is as follows (in millions): September 30, 2017 Current assets $ 2 Noncurrent assets 53 Total assets $ 55 Current liabilities $ 6 Noncurrent liabilities 42 Total liabilities $ 48 |
Discontinued Operations (Tables
Discontinued Operations (Tables) | 3 Months Ended |
Dec. 31, 2017 | |
Discontinued Operations, Disposed of by Means Other than Sale, Spinoff [Member] | |
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | |
Disposal Group, Including Discontinued Operations, Income Statement Disclosures [Table Text Block] | The following table summarizes the results of Adient, reclassified as discontinued operations for the three month period ended December 31, 2016 (in millions). As the Adient spin-off occurred on October 31, 2016, there is only one month of Adient results included in the three month period ended December 31, 2016 . Three Months Ended December 31, 2016 Net sales $ 1,434 Income from discontinued operations before income taxes 1 Provision for income taxes on discontinued operations 35 Income from discontinued operations attributable to noncontrolling interests, net of tax 9 Loss from discontinued operations $ (43 ) |
Disposal Group, Held-for-sale or Disposed of by Sale, Not Discontinued Operations [Member] | |
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | |
Disposal Groups, Including Discontinued Operations [Table Text Block] | The following table summarizes the carrying value of the Scott Safety assets and liabilities held for sale at September 30, 2017 (in millions): September 30, 2017 Cash $ 9 Accounts receivable - net 100 Inventories 75 Other current assets 5 Assets held for sale $ 189 Property, plant and equipment - net $ 79 Goodwill 1,248 Other intangible assets - net 592 Other noncurrent assets 1 Noncurrent assets held for sale $ 1,920 Accounts payable $ 37 Accrued compensation and benefits 10 Other current liabilities 25 Liabilities held for sale $ 72 Other noncurrent liabilities $ 173 Noncurrent liabilities held for sale $ 173 |
Adient | Discontinued Operations, Disposed of by Means Other than Sale, Spinoff [Member] | |
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | |
Disposal Groups, Including Discontinued Operations [Table Text Block] | The following table summarizes depreciation and amortization, capital expenditures, and significant operating and investing noncash items related to Adient for the three month period ended December 31, 2016 (in millions): Three Months Ended December 31, 2016 Depreciation and amortization $ 29 Equity in earnings of partially-owned affiliates (31 ) Deferred income taxes 562 Equity-based compensation 1 Accrued income taxes (808 ) Capital expenditures (91 ) |
Inventories (Tables)
Inventories (Tables) | 3 Months Ended |
Dec. 31, 2017 | |
Inventory Disclosure [Abstract] | |
Inventories | Inventories consisted of the following (in millions): December 31, 2017 September 30, 2017 Raw materials and supplies $ 1,006 $ 919 Work-in-process 543 567 Finished goods 1,910 1,723 Inventories $ 3,459 $ 3,209 |
Goodwill and Other Intangible32
Goodwill and Other Intangible Assets (Tables) | 3 Months Ended |
Dec. 31, 2017 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Changes in Carrying Amount of Goodwill | The changes in the carrying amount of goodwill in each of the Company’s reportable segments for the three month period ended December 31, 2017 were as follows (in millions): Business Acquisitions Business Divestitures Currency Translation and Other September 30, December 31, 2017 2017 Building Technologies & Solutions Building Solutions North America $ 9,637 $ — $ — $ (4 ) $ 9,633 Building Solutions EMEA/LA 2,012 — — 14 2,026 Building Solutions Asia Pacific 1,255 — — 28 1,283 Global Products 5,687 — (18 ) 1 5,670 Power Solutions 1,097 — — 8 1,105 Total $ 19,688 $ — $ (18 ) $ 47 $ 19,717 |
Other Intangible Assets | The Company’s other intangible assets, primarily from business acquisitions valued based on independent appraisals, consisted of (in millions): December 31, 2017 September 30, 2017 Gross Carrying Amount Accumulated Amortization Net Gross Carrying Amount Accumulated Amortization Net Amortized intangible assets Technology $ 1,343 $ (174 ) $ 1,169 $ 1,328 $ (137 ) $ 1,191 Customer relationships 3,136 (503 ) 2,633 3,168 (486 ) 2,682 Miscellaneous 413 (167 ) 246 389 (147 ) 242 Total amortized intangible assets 4,892 (844 ) 4,048 4,885 (770 ) 4,115 Unamortized intangible assets Trademarks/trade names 2,486 — 2,486 2,483 — 2,483 Miscellaneous 123 — 123 143 — 143 2,609 — 2,609 2,626 — 2,626 Total intangible assets $ 7,501 $ (844 ) $ 6,657 $ 7,511 $ (770 ) $ 6,741 |
Significant Restructuring Cos33
Significant Restructuring Costs Change in Restructuring Reserve - 2018 Restructuring Plan (Tables) | 3 Months Ended |
Dec. 31, 2017 | |
2018 Restructuring Plan | |
Restructuring Cost and Reserve [Line Items] | |
Schedule of Restructuring Reserve by Type of Cost [Table Text Block] | The following table summarizes the changes in the Company’s 2018 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 $ 125 $ 30 $ 3 $ 158 Utilized—noncash — (30 ) — (30 ) Balance at December 31, 2017 $ 125 $ — $ 3 $ 128 |
Significant Restructuring Cos34
Significant Restructuring Costs Changes in Restructuring Reserve - 2017 Restructuring Plan (Tables) | 3 Months Ended |
Dec. 31, 2017 | |
2017 Restructuring Plan | |
Restructuring Cost and Reserve [Line Items] | |
Schedule of Restructuring Reserve by Type of Cost [Table Text Block] | The following table summarizes the changes in the Company’s 2017 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 $ 276 $ 77 $ 14 $ 367 Utilized—cash (75 ) — — (75 ) Utilized—noncash — (77 ) (1 ) (78 ) Adjustment to restructuring reserves 25 — — 25 Balance at September 30, 2017 $ 226 $ — $ 13 $ 239 Utilized—cash (26 ) — (2 ) (28 ) Balance at December 31, 2017 $ 200 $ — $ 11 $ 211 |
Significant Restructuring Cos35
Significant Restructuring Costs Changes in Restructuring Reserve - 2016 Restructuring Plan (Tables) | 3 Months Ended |
Dec. 31, 2017 | |
2016 Restructuring Plan [Member] | |
Restructuring Cost and Reserve [Line Items] | |
Schedule of Restructuring Reserve by Type of Cost [Table Text Block] | The following table summarizes the changes in the Company’s 2016 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 Currency Total Original reserve $ 368 $ 190 $ 62 $ — $ 620 Acquired Tyco restructuring reserves 78 — — — 78 Utilized—cash (32 ) — — — (32 ) Utilized—noncash — (190 ) (32 ) 1 (221 ) Balance at September 30, 2016 $ 414 $ — $ 30 $ 1 $ 445 Adient spin-off impact (194 ) — (22 ) — (216 ) Utilized—cash (86 ) — (2 ) — (88 ) Utilized—noncash — — — 1 1 Adjustment to restructuring reserves (25 ) — — — (25 ) Transfer to liabilities held for sale (3 ) — — — (3 ) Adjustment to acquired Tyco restructuring reserves (22 ) — — — (22 ) Balance at September 30, 2017 $ 84 $ — $ 6 $ 2 $ 92 Utilized—cash (5 ) — (1 ) — (6 ) Balance at December 31, 2017 $ 79 $ — $ 5 $ 2 $ 86 |
Income Taxes (Tables)
Income Taxes (Tables) | 3 Months Ended |
Dec. 31, 2017 | |
Income Tax Disclosure [Abstract] | |
Tax Jurisdictions and Years Currently under Audit Exam | The Company is currently under exam in the following major non-U.S. jurisdictions: Tax Jurisdiction Tax Years Covered Belgium 2015 - 2016 Brazil 2011 - 2012 Canada 2013 - 2014 China 2008 - 2016 France 2010 - 2016 Germany 2007 - 2015 Japan 2016 Spain 2010 - 2014 Switzerland 2011 - 2014 United Kingdom 2011 - 2014 |
Pension and Postretirement Pl37
Pension and Postretirement Plans (Tables) | 3 Months Ended |
Dec. 31, 2017 | |
Defined Benefit Pension Plans and Defined Benefit Postretirement Plans Disclosure [Abstract] | |
Components of Net Periodic Benefit Cost | The components of the Company’s net periodic benefit costs from continuing operations associated with its defined benefit pension and postretirement plans are shown in the tables below in accordance with ASC 715, "Compensation – Retirement Benefits" (in millions): U.S. Pension Plans Three Months Ended December 31, 2017 2016 Service cost $ 4 $ 5 Interest cost 26 28 Expected return on plan assets (57 ) (59 ) Net actuarial gain — (117 ) Settlement gain — (8 ) Net periodic benefit credit $ (27 ) $ (151 ) Non-U.S. Pension Plans Three Months Ended December 31, 2017 2016 Service cost $ 6 $ 8 Interest cost 14 12 Expected return on plan assets (29 ) (23 ) Net periodic benefit credit $ (9 ) $ (3 ) Postretirement Benefits Three Months Ended December 31, 2017 2016 Service cost $ — $ 1 Interest cost 2 1 Expected return on plan assets (2 ) (3 ) Net periodic benefit credit $ — $ (1 ) |
Debt and Financing Arrangemen38
Debt and Financing Arrangements (Tables) | 3 Months Ended |
Dec. 31, 2017 | |
Debt Disclosure [Abstract] | |
Components of Net Financing Charges | The Company's net financing charges line item in the consolidated statements of income for the three months ended December 31, 2017 and 2016 contained the following components (in millions): Three Months Ended December 31, 2017 2016 Interest expense, net of capitalized interest costs $ 114 $ 110 Banking fees and bond cost amortization 13 30 Interest income (9 ) (7 ) Net foreign exchange results for financing activities (2 ) 3 Net financing charges $ 116 $ 136 |
Stock-Based Compensation (Table
Stock-Based Compensation (Tables) | 3 Months Ended |
Dec. 31, 2017 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |
Schedule of Share-based Compensation, Activity [Table Text Block] | A summary of the stock-based awards granted during the three month periods ended December 31, 2017 and 2016 is presented below: Three Months Ended December 31, 2017 2016 Number Granted Weighted Average Grant Date Fair Value Number Granted Weighted Average Grant Date Fair Value Stock options 1,355,595 $ 7.05 2,830,826 $ 7.81 Stock appreciation rights — — 15,693 8.28 Restricted stock/units 2,051,817 37.36 1,512,544 41.74 Performance shares 496,478 36.31 846,725 48.40 |
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block] | Three Months Ended 2017 2016 Expected life of option (years) 6.5 4.75 & 6.5 Risk-free interest rate 2.28% 1.23% - 1.48% Expected volatility of the Company’s stock 23.7% 24.6% Expected dividend yield on the Company’s stock 2.78% 2.21% |
Schedule of share-based payment award, performance share, valuation assumptions [Table Text Block] | Three Months Ended 2017 2016 Risk-free interest rate 1.92% 1.40% Expected volatility of the Company’s stock 21.7% 21.0% |
Earnings Per Share (Tables)
Earnings Per Share (Tables) | 3 Months Ended |
Dec. 31, 2017 | |
Earnings Per Share [Abstract] | |
Earnings Per Share | The following table reconciles the numerators and denominators used to calculate basic and diluted earnings per share (in millions): Three Months Ended December 31, 2017 2016 Income Available to Ordinary Shareholders Income from continuing operations $ 230 $ 372 Loss from discontinued operations — (43 ) Basic and diluted income available to shareholders $ 230 $ 329 Weighted Average Shares Outstanding Basic weighted average shares outstanding 926.1 937.2 Effect of dilutive securities: Stock options, unvested restricted stock and unvested performance share awards 7.2 10.2 Diluted weighted average shares outstanding 933.3 947.4 Antidilutive Securities Options to purchase shares 1.0 0.1 |
Equity and Noncontrolling Int41
Equity and Noncontrolling Interests (Tables) | 3 Months Ended |
Dec. 31, 2017 | |
Stockholders' Equity Note [Abstract] | |
Equity Attributable to Johnson Controls and Noncontrolling Interests | The following schedules present changes in consolidated equity attributable to Johnson Controls and noncontrolling interests (in millions, net of tax): Three Months Ended December 31, 2017 Three Months Ended December 31, 2016 Equity Attributable to Johnson Controls International plc Equity Attributable to Noncontrolling Interests Total Equity Equity Attributable to Johnson Controls International plc Equity Attributable to Noncontrolling Interests Total Equity Beginning balance, September 30, $ 20,447 $ 920 $ 21,367 $ 24,118 $ 972 $ 25,090 Total comprehensive income (loss): Net income 230 28 258 329 36 365 Foreign currency translation adjustments 58 16 74 (659 ) (35 ) (694 ) Realized and unrealized gains on derivatives 1 1 2 — 4 4 Realized and unrealized losses on marketable securities — — — (2 ) — (2 ) Other comprehensive income (loss) 59 17 76 (661 ) (31 ) (692 ) Comprehensive income (loss) 289 45 334 (332 ) 5 (327 ) Other changes in equity: Cash dividends—ordinary shares (242 ) — (242 ) (236 ) — (236 ) Repurchases of ordinary shares (150 ) — (150 ) — — — Change in noncontrolling interest share — — — — (20 ) (20 ) Adoption of ASU 2016-09 179 — 179 — — — Spin-off of Adient — — — (4,020 ) (138 ) (4,158 ) Other, including options exercised 12 — 12 47 — 47 Ending balance, December 31 $ 20,535 $ 965 $ 21,500 $ 19,577 $ 819 $ 20,396 |
Changes in Redeemable Noncontrolling Interests | The following schedules present changes in the redeemable noncontrolling interests (in millions): Three Months Ended December 31, 2017 2016 Beginning balance, September 30 $ 211 $ 234 Net income 13 13 Foreign currency translation adjustments 5 (9 ) Realized and unrealized losses on derivatives (3 ) — Dividends — (43 ) Spin-off of Adient — (36 ) Ending balance, December 31 $ 226 $ 159 |
Changes in Accumulated Other Comprehensive Income, Net of Tax | The following schedules present changes in accumulated other comprehensive income ("AOCI") attributable to Johnson Controls (in millions, net of tax): Three Months Ended December 31, 2017 2016 Foreign currency translation adjustments ("CTA") Balance at beginning of period $ (481 ) $ (1,152 ) Aggregate adjustment for the period (net of tax effect of $1 and $5)* 58 (659 ) Adient spin-off impact (net of tax effect of $0) — 563 Balance at end of period (423 ) (1,248 ) Realized and unrealized gains (losses) on derivatives Balance at beginning of period 6 4 Current period changes in fair value (net of tax effect of $3 and $4) 6 6 Reclassification to income (net of tax effect of $(2) and $(3)) ** (5 ) (6 ) Adient spin-off impact (net of tax effect of $0 and $6) — 16 Balance at end of period 7 20 Realized and unrealized gains (losses) on marketable securities Balance at beginning of period 4 (1 ) Current period changes in fair value (net of tax effect of $0) — (2 ) Balance at end of period 4 (3 ) Pension and postretirement plans Balance at beginning of period (2 ) (4 ) Adient spin-off impact (net of tax effect of $0) — 2 Balance at end of period (2 ) (2 ) Accumulated other comprehensive loss, end of period $ (414 ) $ (1,233 ) * During the three months ended December 31, 2017, $12 million of cumulative CTA were recognized as part of the divestiture-related gain recognized as a result of the divestiture of Scott Safety. ** Refer to Note 15, "Derivative Instruments and Hedging Activities," of the notes to consolidated financial statements for disclosure of the line items in the consolidated statements of income affected by reclassifications from AOCI into income related to derivatives. |
Derivative Instruments and He42
Derivative Instruments and Hedging Activities (Tables) | 3 Months Ended |
Dec. 31, 2017 | |
Derivative Instruments [Line Items] | |
Outstanding Commodity Hedge Contracts | The Company had the following outstanding contracts to hedge forecasted commodity purchases: Volume Outstanding as of Commodity Units December 31, 2017 September 30, 2017 Copper Metric Tons 3,765 1,962 Polypropylene Metric Tons 21,762 19,563 Lead Metric Tons 13,791 24,705 Aluminum Metric Tons 5,295 2,169 Tin Metric Tons 1,655 1,715 |
Location and Fair Values of Derivative Instruments and Hedging Activities | The following table presents the location and fair values of derivative instruments and hedging activities included in the Company’s consolidated statements of financial position (in millions): Derivatives and Hedging Activities Designated as Hedging Instruments under ASC 815 Derivatives and Hedging Activities Not Designated as Hedging Instruments under ASC 815 December 31, September 30, December 31, September 30, 2017 2017 2017 2017 Other current assets Foreign currency exchange derivatives $ 35 $ 27 $ 21 $ — Commodity derivatives 6 9 — — Other noncurrent assets Equity swap — — 68 55 Total assets $ 41 $ 36 $ 89 $ 55 Other current liabilities Foreign currency exchange derivatives $ 25 $ 21 $ 16 $ 25 Commodity derivatives 1 1 — — Long-term debt Foreign currency denominated debt 2,981 2,058 — — Total liabilities $ 3,007 $ 2,080 $ 16 $ 25 |
Offsetting Assets and Liabilities | The gross and net amounts of derivative assets and liabilities were as follows (in millions): Fair Value of Assets Fair Value of Liabilities December 31, September 30, December 31, September 30, 2017 2017 2017 2017 Gross amount recognized $ 130 $ 91 $ 3,023 $ 2,105 Gross amount eligible for offsetting (27 ) (16 ) (27 ) (16 ) Net amount $ 103 $ 75 $ 2,996 $ 2,089 |
Location and Amount of Gains and Losses Gross of Tax on Derivative Instruments and Related Hedge Items | The following table presents the effective portion of pre-tax gains (losses) recorded in other comprehensive income (loss) related to cash flow hedges for the three months ended December 31, 2017 and 2016 (in millions): Derivatives in ASC 815 Cash Flow Hedging Relationships Three Months Ended December 31, 2017 2016 Foreign currency exchange derivatives $ 6 $ 8 Commodity derivatives 3 2 Total $ 9 $ 10 The following tables present the location and amount of the effective portion of pre-tax gains (losses) on cash flow hedges reclassified from AOCI into the Company’s consolidated statements of income for the three months ended December 31, 2017 and 2016 (in millions): Derivatives in ASC 815 Cash Flow Hedging Relationships Location of Gain (Loss) Reclassified from AOCI into Income Three Months Ended December 31, 2017 2016 Foreign currency exchange derivatives Cost of sales $ 2 $ 8 Commodity derivatives Cost of sales 5 1 Total $ 7 $ 9 The following table presents the location and amount of pre-tax gains (losses) on fair value hedges recognized in the Company’s consolidated statements of income for the three months ended December 31, 2017 and 2016 (in millions): Derivatives in ASC 815 Fair Value Hedging Relationships Location of Gain (Loss) Recognized in Income on Derivative Three Months Ended December 31, 2017 2016 Interest rate swap Net financing charges $ — $ (1 ) Fixed rate debt swapped to floating Net financing charges — 2 Total $ — $ 1 The following table presents the location and amount of pre-tax gains (losses) on derivatives not designated as hedging instruments recognized in the Company’s consolidated statements of income for the three months ended December 31, 2017 and 2016 (in millions): Amount of Gain (Loss) Recognized in Income on Derivative Derivatives Not Designated as Hedging Instruments under ASC 815 Location of Gain (Loss) Recognized in Income on Derivative Three Months Ended December 31, 2017 2016 Foreign currency exchange derivatives Cost of sales $ 2 $ 1 Foreign currency exchange derivatives Net financing charges 4 4 Foreign currency exchange derivatives Income tax provision 2 (3 ) Foreign currency exchange derivatives Income (loss) from discontinued operations — 5 Equity swap Selling, general and administrative (2 ) — Total $ 6 $ 7 |
Fair Value Measurements (Tables
Fair Value Measurements (Tables) | 3 Months Ended |
Dec. 31, 2017 | |
Fair Value Disclosures [Abstract] | |
Assets and Liabilities Measured at Fair Value | The following tables present the Company’s fair value hierarchy for those assets and liabilities measured at fair value as of December 31, 2017 and September 30, 2017 (in millions): Fair Value Measurements Using: Total as of December 31, 2017 Quoted Prices in Active Markets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Other current assets Foreign currency exchange derivatives $ 56 $ — $ 56 $ — Commodity derivatives 6 — 6 — Exchange traded funds (fixed income) 1 28 28 — — Other noncurrent assets Investments in marketable common stock 6 6 — — Deferred compensation plan assets 96 96 — — Exchange traded funds (fixed income) 1 142 142 — — Exchange traded funds (equity) 1 113 113 — — Equity swap 68 — 68 — Total assets $ 515 $ 385 $ 130 $ — Other current liabilities Foreign currency exchange derivatives $ 41 $ — $ 41 $ — Commodity derivatives 1 — 1 — Total liabilities $ 42 $ — $ 42 $ — Fair Value Measurements Using: Total as of September 30, 2017 Quoted Prices in Active Markets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Other current assets Foreign currency exchange derivatives $ 27 $ — $ 27 $ — Commodity derivatives 9 — 9 — Exchange traded funds (fixed income) 1 14 14 — — Other noncurrent assets Investments in marketable common stock 10 10 — — Deferred compensation plan assets 92 92 — — Exchange traded funds (fixed income) 1 155 155 — — Exchange traded funds (equity) 1 100 100 — — Equity swap 55 — 55 — Total assets $ 462 $ 371 $ 91 $ — Other current liabilities Foreign currency exchange derivatives $ 46 $ — $ 46 $ — Commodity derivatives 1 — 1 — Total liabilities $ 47 $ — $ 47 $ — |
Segment Information (Tables)
Segment Information (Tables) | 3 Months Ended |
Dec. 31, 2017 | |
Segment Reporting, Disclosure of Entity's Reportable Segments [Abstract] | |
Financial Information Related to Company's Reportable Segments | Financial information relating to the Company’s reportable segments is as follows (in millions): Net Sales Three Months Ended 2017 2016 Building Technologies & Solutions Building Solutions North America $ 2,012 $ 1,942 Building Solutions EMEA/LA 915 875 Building Solutions Asia Pacific 597 575 Global Products 1,781 1,794 5,305 5,186 Power Solutions 2,130 1,900 Total net sales $ 7,435 $ 7,086 Segment EBITA Three Months Ended 2017 2016 Building Technologies & Solutions Building Solutions North America $ 227 $ 196 Building Solutions EMEA/LA 69 49 Building Solutions Asia Pacific 74 63 Global Products 286 127 656 435 Power Solutions 384 389 Total segment EBITA $ 1,040 $ 824 Corporate expenses $ (134 ) $ (193 ) Amortization of intangible assets (94 ) (149 ) Restructuring and impairment costs (158 ) (78 ) Net mark-to-market adjustments on pension plans — 117 Net financing charges (116 ) (136 ) Income from continuing operations before income taxes $ 538 $ 385 |
Guarantees (Tables)
Guarantees (Tables) | 3 Months Ended |
Dec. 31, 2017 | |
Guarantees [Abstract] | |
Changes in Carrying Amount of Product Warranty Liability | The changes in the carrying amount of the Company’s total product warranty liability, including extended warranties, for the three months ended December 31, 2017 and 2016 were as follows (in millions): Three Months Ended 2017 2016 Balance at beginning of period $ 409 $ 374 Accruals for warranties issued during the period 84 82 Accruals from acquisition and divestitures — (1 ) Accruals related to pre-existing warranties (3 ) (6 ) Settlements made (in cash or in kind) during the period (77 ) (73 ) Currency translation 2 (6 ) Balance at end of period $ 415 $ 370 |
TIFSA (Tables)
TIFSA (Tables) | 3 Months Ended |
Dec. 31, 2017 | |
Condensed Financial Information of Parent Company Only Disclosure [Abstract] | |
Tyco International Finance S.A. | CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS For the Three Months Ended December 31, 2017 (in millions) Johnson Controls International plc Tyco Fire & Security Finance SCA Tyco International Finance S.A. Other Subsidiaries Consolidating Adjustments Total Net sales $ — $ — $ — $ 7,435 $ — $ 7,435 Cost of sales — — — 5,266 — 5,266 Gross profit — — — 2,169 — 2,169 Selling, general and administrative expenses (3 ) — — (1,414 ) — (1,417 ) Restructuring and impairment costs — — — (158 ) — (158 ) Net financing charges (50 ) 1 (2 ) (65 ) — (116 ) Equity income 285 188 142 60 (615 ) 60 Intercompany interest and fees (2 ) 85 (29 ) (54 ) — — Income from continuing operations before income taxes 230 274 111 538 (615 ) 538 Income tax provision — — — 267 — 267 Net income 230 274 111 271 (615 ) 271 Income from continuing operations attributable to noncontrolling interests — — — 41 — 41 Net income attributable to Johnson Controls $ 230 $ 274 $ 111 $ 230 $ (615 ) $ 230 CONDENSED CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME (LOSS) For the Three Months Ended December 31, 2017 (in millions) Johnson Controls International plc Tyco Fire & Security Finance SCA Tyco International Finance S.A. Other Subsidiaries Consolidating Adjustments Total Net income $ 230 $ 274 $ 111 $ 271 $ (615 ) $ 271 Other comprehensive income (loss), net of tax Foreign currency translation adjustments 58 (7 ) (1 ) 53 (24 ) 79 Realized and unrealized gains (losses) on derivatives 1 — — (1 ) (1 ) (1 ) Realized and unrealized gains (losses) on marketable securities — — (4 ) 4 — — Other comprehensive income (loss) 59 (7 ) (5 ) 56 (25 ) 78 Total comprehensive income 289 267 106 327 (640 ) 349 Comprehensive income attributable to noncontrolling interests — — — 60 — 60 Comprehensive income attributable to Johnson Controls $ 289 $ 267 $ 106 $ 267 $ (640 ) $ 289 CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS For the Three Months Ended December 31, 2016 (in millions) Johnson Controls International plc Tyco Fire & Security Finance SCA Tyco International Finance S.A. Other Subsidiaries Consolidating Adjustments Total Net sales $ — $ — $ — $ 7,086 $ — $ 7,086 Cost of sales — — — 4,972 — 4,972 Gross profit — — — 2,114 — 2,114 Selling, general and administrative expenses (2 ) — 1 (1,569 ) — (1,570 ) Restructuring and impairment costs — — — (78 ) — (78 ) Net financing charges (19 ) — (19 ) (98 ) — (136 ) Equity income (loss) 318 (286 ) (110 ) 55 78 55 Intercompany interest and fees 32 — 17 (49 ) — — Income (loss) from continuing operations before income taxes 329 (286 ) (111 ) 375 78 385 Income tax benefit — — — (27 ) — (27 ) Income (loss) from continuing operations 329 (286 ) (111 ) 402 78 412 Income (loss) from sale of intercompany investment, net of tax — — (935 ) — 935 — Loss from discontinued operations, net of tax — — — (34 ) — (34 ) Net income (loss) 329 (286 ) (1,046 ) 368 1,013 378 Income from continuing operations attributable to noncontrolling interests — — — 40 — 40 Income from discontinued operations attributable to noncontrolling interests — — — 9 — 9 Net income (loss) attributable to Johnson Controls $ 329 $ (286 ) $ (1,046 ) $ 319 $ 1,013 $ 329 CONDENSED CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME (LOSS) For the Three Months Ended December 31, 2016 (in millions) Johnson Controls International plc Tyco Fire & Security Finance SCA Tyco International Finance S.A. Other Subsidiaries Consolidating Adjustments Total Net income (loss) $ 329 $ (286 ) $ (1,046 ) $ 368 $ 1,013 $ 378 Other comprehensive income (loss), net of tax Foreign currency translation adjustments (659 ) — 27 (730 ) 659 (703 ) Realized and unrealized gains on derivatives — — — 4 — 4 Realized and unrealized gains (losses) on marketable securities (2 ) — — (2 ) 2 (2 ) Other comprehensive income (loss) (661 ) — 27 (728 ) 661 (701 ) Total comprehensive income (loss) (332 ) (286 ) (1,019 ) (360 ) 1,674 (323 ) Comprehensive income attributable to noncontrolling interests — — — 9 — 9 Comprehensive income (loss) attributable to Johnson Controls $ (332 ) $ (286 ) $ (1,019 ) $ (369 ) $ 1,674 $ (332 ) CONDENSED CONSOLIDATING STATEMENT OF FINANCIAL POSITION As of December 31, 2017 (in millions) Johnson Controls International plc Tyco Fire & Security Finance SCA Tyco International Finance S.A. Other Subsidiaries Consolidating Adjustments Total Assets Cash and cash equivalents $ 285 $ 108 $ 81 $ 991 $ (913 ) $ 552 Accounts receivable - net — — — 6,731 — 6,731 Inventories — — — 3,459 — 3,459 Intercompany receivables 323 1,824 397 22,957 (25,501 ) — Assets held for sale — — — 40 — 40 Other current assets 46 — 1 1,600 — 1,647 Current assets 654 1,932 479 35,778 (26,414 ) 12,429 Property, plant and equipment - net — — — 6,105 — 6,105 Goodwill 243 — 32 19,442 — 19,717 Other intangible assets - net — — — 6,657 — 6,657 Investments in partially-owned affiliates — — — 1,219 — 1,219 Investments in affiliates 38,975 32,053 21,422 — (92,450 ) — Intercompany loans receivable — 4,140 2,836 9,004 (15,980 ) — Other noncurrent assets 68 — 2 3,570 — 3,640 Total assets $ 39,940 $ 38,125 $ 24,771 $ 81,775 $ (134,844 ) $ 49,767 Liabilities and Equity Short-term debt $ 1,820 $ — $ — $ 607 $ (913 ) $ 1,514 Current portion of long-term debt 49 — 18 24 — 91 Accounts payable 1 — — 4,019 — 4,020 Accrued compensation and benefits 1 — — 882 — 883 Deferred revenue — — — 1,368 — 1,368 Intercompany payables 3,753 18,978 1,958 812 (25,501 ) — Other current liabilities 376 1 24 2,969 — 3,370 Current liabilities 6,000 18,979 2,000 10,681 (26,414 ) 11,246 Long-term debt 8,717 — 153 2,025 — 10,895 Pension and postretirement benefits — — — 896 — 896 Intercompany loans payable 4,688 — 4,316 6,976 (15,980 ) — Other noncurrent liabilities — — 23 4,981 — 5,004 Long-term liabilities 13,405 — 4,492 14,878 (15,980 ) 16,795 Redeemable noncontrolling interests — — — 226 — 226 Ordinary shares 9 — — — — 9 Ordinary shares held in treasury (885 ) — — — — (885 ) Other shareholders' equity 21,411 19,146 18,279 55,025 (92,450 ) 21,411 Shareholders’ equity attributable to Johnson Controls 20,535 19,146 18,279 55,025 (92,450 ) 20,535 Noncontrolling interests — — — 965 — 965 Total equity 20,535 19,146 18,279 55,990 (92,450 ) 21,500 Total liabilities and equity $ 39,940 $ 38,125 $ 24,771 $ 81,775 $ (134,844 ) $ 49,767 CONDENSED CONSOLIDATING STATEMENT OF FINANCIAL POSITION As of September 30, 2017 (in millions) Johnson Controls International plc Tyco Fire & Security Finance SCA Tyco International Finance S.A. Other Subsidiaries Consolidating Adjustments Total Assets Cash and cash equivalents $ — $ 107 $ 382 $ 718 $ (886 ) $ 321 Accounts receivable - net — — — 6,666 — 6,666 Inventories — — — 3,209 — 3,209 Intercompany receivables 1,580 1,732 55 4,470 (7,837 ) — Assets held for sale — — — 189 — 189 Other current assets 14 — 1 1,892 — 1,907 Current assets $ 1,594 $ 1,839 $ 438 $ 17,144 $ (8,723 ) $ 12,292 Property, plant and equipment - net — — — 6,121 — 6,121 Goodwill 243 — 32 19,413 — 19,688 Other intangible assets - net — — — 6,741 — 6,741 Investments in partially-owned affiliates — — — 1,191 — 1,191 Investments in affiliates 19,487 31,594 21,132 — (72,213 ) — Intercompany loans receivable 17,908 4,140 2,836 9,004 (33,888 ) — Noncurrent assets held for sale — — — 1,920 — 1,920 Other noncurrent assets 56 — 7 3,868 — 3,931 Total assets $ 39,288 $ 37,573 $ 24,445 $ 65,402 $ (114,824 ) $ 51,884 Liabilities and Equity Short-term debt $ 1,476 $ — $ — $ 624 $ (886 ) $ 1,214 Current portion of long-term debt 307 — 18 69 — 394 Accounts payable — — — 4,271 — 4,271 Accrued compensation and benefits 4 — — 1,067 — 1,071 Deferred revenue — — — 1,279 — 1,279 Liabilities held for sale — — — 72 — 72 Intercompany payables 4,236 1,055 1,886 660 (7,837 ) — Other current liabilities 324 2 24 3,203 — 3,553 Current liabilities 6,347 1,057 1,928 11,245 (8,723 ) 11,854 Long-term debt 7,806 — 152 4,006 — 11,964 Pension and postretirement benefits — — — 947 — 947 Intercompany loans payable 4,688 17,908 4,316 6,976 (33,888 ) — Noncurrent liabilities held for sale — — — 173 — 173 Other noncurrent liabilities — — 24 5,344 — 5,368 Long-term liabilities 12,494 17,908 4,492 17,446 (33,888 ) 18,452 Redeemable noncontrolling interest — — — 211 — 211 Ordinary shares 9 — — — — 9 Ordinary shares held in treasury (710 ) — — — — (710 ) Other shareholders' equity 21,148 18,608 18,025 35,580 (72,213 ) 21,148 Shareholders’ equity attributable to Johnson Controls 20,447 18,608 18,025 35,580 (72,213 ) 20,447 Noncontrolling interests — — — 920 — 920 Total equity 20,447 18,608 18,025 36,500 (72,213 ) 21,367 Total liabilities and equity $ 39,288 $ 37,573 $ 24,445 $ 65,402 $ (114,824 ) $ 51,884 CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS For the Three Months Ended December 31, 2017 (in millions) Johnson Controls International plc Tyco Fire & Security Finance SCA Tyco International Finance S.A. Other Subsidiaries Consolidating Adjustments Total Operating Activities Net cash provided (used) by operating activities $ (135 ) $ 1 $ 33 $ (28 ) $ — $ (129 ) Investing Activities Capital expenditures — — — (230 ) — (230 ) Sale of property, plant and equipment — — — 5 — 5 Business divestitures — — — 2,011 — 2,011 Changes in long-term investments — — — (12 ) — (12 ) Net change in intercompany loans receivable 300 — (334 ) 480 (446 ) — Net cash provided (used) by investing activities 300 — (334 ) 2,254 (446 ) 1,774 Financing Activities Increase (decrease) in short-term debt - net 344 — — (13 ) (27 ) 304 Increase in long-term debt 885 — — — — 885 Repayment of long-term debt (259 ) — — (1,975 ) — (2,234 ) Debt financing costs (4 ) — — — — (4 ) Stock repurchases (150 ) — — — — (150 ) Payment of cash dividends (232 ) — — — — (232 ) Proceeds from the exercise of stock options 16 — — — — 16 Employee equity-based compensation withholding taxes — — — (25 ) — (25 ) Net change in intercompany loans payable (480 ) — — 34 446 — Net cash provided (used) by financing activities 120 — — (1,979 ) 419 (1,440 ) Effect of exchange rate changes on cash and cash equivalents — — — 17 — 17 Change in cash held for sale — — — 9 — 9 Increase (decrease) in cash and cash equivalents 285 1 (301 ) 273 (27 ) 231 Cash and cash equivalents at beginning of period — 107 382 718 (886 ) 321 Cash and cash equivalents at end of period $ 285 $ 108 $ 81 $ 991 $ (913 ) $ 552 CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS For the Three Months Ended December 31, 2016 (in millions) Johnson Controls International plc Tyco Fire & Security Finance SCA Tyco International Finance S.A. Other Subsidiaries Consolidating Adjustments Total Operating Activities Net cash provided (used) by operating activities $ 211 $ — $ 32 $ (2,128 ) $ — $ (1,885 ) Investing Activities Capital expenditures — — — (371 ) — (371 ) Sale of property, plant and equipment — — — 2 — 2 Acquisition of businesses, net of cash acquired — — (6 ) 3 — (3 ) Business divestitures — — — 47 — 47 Changes in long-term investments — — — (6 ) — (6 ) Net change in intercompany loans receivable — — 10 — (10 ) — Net cash provided (used) by investing activities — — 4 (325 ) (10 ) (331 ) Financing Activities Increase in short-term debt - net 105 — — 1,460 (253 ) 1,312 Increase in long-term debt — — — 7 — 7 Repayment of long-term debt — — — (763 ) — (763 ) Debt financing costs (6 ) — — — — (6 ) Proceeds from the exercise of stock options 29 — — — — 29 Employee equity-based compensation withholding taxes — — — (25 ) — (25 ) Net change in intercompany loans payable — — — (10 ) 10 — Dividends paid to noncontrolling interests — — — (31 ) — (31 ) Dividend from Adient spin-off — — — 2,050 — 2,050 Cash transferred to Adient related to spin-off — — — (564 ) — (564 ) Cash paid related to prior acquisitions — — — (45 ) — (45 ) Net cash provided (used) by financing activities 128 — — 2,079 (243 ) 1,964 Effect of exchange rate changes on cash and cash equivalents — — — (55 ) — (55 ) Change in cash held for sale — — — 105 — 105 Increase (decrease) in cash and cash equivalents 339 — 36 (324 ) (253 ) (202 ) Cash and cash equivalents at beginning of period 11 — 244 324 — 579 Cash and cash equivalents at end of period $ 350 $ — $ 280 $ — $ (253 ) $ 377 |
Related Party Transactions (Tab
Related Party Transactions (Tables) | 3 Months Ended |
Dec. 31, 2017 | |
Related Party Transactions [Abstract] | |
Schedule of Related Party Transactions [Table Text Block] | The following table sets forth the amount of accounts receivable due from and payable to related parties in the consolidated statements of financial position (in millions): December 31, 2017 September 30, 2017 Receivable from related parties $ 122 $ 108 Payable to related parties 34 50 |
Financial Statements - Carrying
Financial Statements - Carrying Amounts and Classification of Assets and Liabilities for Consolidated VIEs (Detail) - USD ($) $ in Millions | Dec. 31, 2017 | Sep. 30, 2017 |
Variable Interest Entity [Line Items] | ||
Current assets | $ 12,429 | $ 12,292 |
Current liabilities | 11,246 | 11,854 |
Long-term liabilities | $ 16,795 | 18,452 |
Variable Interest Entity, Primary Beneficiary [Member] | ||
Variable Interest Entity [Line Items] | ||
Current assets | 2 | |
Noncurrent assets | 53 | |
Total assets | 55 | |
Current liabilities | 6 | |
Long-term liabilities | 42 | |
Total liabilities | $ 48 |
Financial Statements - Addition
Financial Statements - Additional Information (Detail) $ in Millions | 3 Months Ended | 9 Months Ended | 12 Months Ended | |||
Dec. 31, 2017USD ($)SegmentEntity | Sep. 30, 2017USD ($)SegmentEntity | Jun. 30, 2017Segment | Sep. 30, 2017USD ($)Entity | Sep. 30, 2012InterestInvestmentEntity | Oct. 31, 2016shares | |
Financial Statement Details [Line Items] | ||||||
Adient shares received per 10 shares of Johnson Controls shares | shares | 1 | |||||
Johnson Controls shares converted into one share of Adient | shares | 10 | |||||
Interest percentage minimum for investments in partially-owned affiliates to be accounted for by the equity method | 20.00% | |||||
Number of VIEs where Company is Primary Beneficiary | Entity | 1 | 1 | ||||
Number of separate investments a pre-existing VIE was reorganized into | Entity | 3 | |||||
Additional interests acquired | InterestInvestment | 2 | |||||
Third party debt agreement | $ 162 | |||||
Loans to partially-owned affiliates | 37 | |||||
Floor guarantee | $ 25 | |||||
Number of VIEs in which Company was not primary beneficiary | Entity | 3 | 2 | ||||
Restricted Cash and Cash Equivalents | $ 19 | $ 31 | $ 31 | |||
Restricted Cash and Investments, Current | 10 | 22 | 22 | |||
Restricted Cash and Cash Equivalents, Noncurrent | $ 9 | 9 | 9 | |||
Number of reportable segments | Segment | 5 | |||||
Variable Interest Entity, Not Primary Beneficiary [Member] | ||||||
Financial Statement Details [Line Items] | ||||||
Investment balance of the Company's nonconsolidated VIEs | $ 38 | $ 65 | $ 65 | |||
Power Solutions | ||||||
Financial Statement Details [Line Items] | ||||||
Number of VIEs where Company is Primary Beneficiary | Entity | 1 | |||||
Building Technologies & Solutions | ||||||
Financial Statement Details [Line Items] | ||||||
Number of reportable segments | Segment | 4 | 5 |
New Accounting Standards Recent
New Accounting Standards Recently Adopted Accounting Pronouncements (Details) $ in Millions | 3 Months Ended |
Dec. 31, 2017USD ($) | |
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |
Deferred tax asset from stock options exercised and restricted stock vestings | $ 179 |
Acquisitions and Divestitures -
Acquisitions and Divestitures - Additional Information (Detail) $ in Millions | 3 Months Ended | ||
Dec. 31, 2017USD ($) | Dec. 31, 2016USD ($) | Sep. 30, 2016USD ($) | |
Acquisitions And Discontinued Operations [Line Items] | |||
Cash paid for business acquisition | $ 0 | $ 3 | |
Goodwill, Acquired During Period | 0 | ||
Reduction in goodwill related to business divestitures | 18 | ||
Proceeds from business divestitures, net of cash divested | 2,011 | 47 | |
Adjustment to purchase price of previous acquisition | 0 | $ 45 | |
Scott Safety business [Member] | |||
Acquisitions And Discontinued Operations [Line Items] | |||
Disposal Group, Not Discontinued Operation, Gain (Loss) on Disposal | 114 | ||
Reduction in goodwill related to business divestitures | 1,200 | ||
Discontinued Operation, Gain (Loss) on Disposal of Discontinued Operation, Net of Tax | 84 | ||
Proceeds from business divestitures, net of cash divested | 2,000 | ||
Business Divestitures, Not Specific [Member] | |||
Acquisitions And Discontinued Operations [Line Items] | |||
Number Of Businesses Divested | 1 | ||
Proceeds from Divestiture of Businesses | $ 4 | ||
Cash Divested from Deconsolidation | 5 | ||
Proceeds from business divestitures, net of cash divested | $ 52 | ||
Individually Immaterial Acquisitions | |||
Acquisitions And Discontinued Operations [Line Items] | |||
Number of acquisitions | 2 | ||
Purchase price, net of cash acquired | $ 6 | ||
Cash paid for business acquisition | 3 | ||
Goodwill, Acquired During Period | $ 1 | ||
Power Solutions | |||
Acquisitions And Discontinued Operations [Line Items] | |||
Goodwill, Acquired During Period | 0 | ||
Reduction in goodwill related to business divestitures | 0 | ||
Tyco International Holding S.a.r.L. (TSarL) [Member] | |||
Acquisitions And Discontinued Operations [Line Items] | |||
Repayments of Debt | 1,900 | ||
Long-term Debt | $ 1,800 | $ 4,000 |
Discontinued Operations Discont
Discontinued Operations Discontinued Operations, Income Statement Disclosures (Details) - USD ($) $ in Millions | 3 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Oct. 31, 2016 | |
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | |||
Adient shares received per 10 shares of Johnson Controls shares | 1 | ||
Johnson Controls shares converted into one share of Adient | 10 | ||
Income from discontinued operations attributable to noncontrolling interests | $ 0 | $ 9 | |
Loss from discontinued operations | $ 0 | $ (43) | |
U.S. federal statutory income tax rate | 21.00% | 35.00% | |
Discontinued Operations, Disposed of by Means Other than Sale, Spinoff [Member] | |||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | |||
Net sales | $ 1,434 | ||
Income from discontinued operations before income taxes | 1 | ||
Provision for income taxes on discontinued operations | 35 | ||
Income from discontinued operations attributable to noncontrolling interests | 9 | ||
Loss from discontinued operations | (43) | ||
Separation costs | $ 79 |
Discontinued Operations Disco53
Discontinued Operations Discontinued Operations, Alternative Cash Flow Information - Adient spin-off (Details) - USD ($) $ in Millions | 3 Months Ended | |
Dec. 31, 2017 | Dec. 31, 2016 | |
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | ||
Depreciation and amortization | $ 272 | $ 346 |
Equity in earnings of partially-owned affiliates | (36) | (64) |
Deferred income taxes | (79) | 580 |
Equity-based compensation | 30 | 37 |
Accrued income taxes | 299 | (1,808) |
Capital expenditures | $ (230) | (371) |
Adient | Discontinued Operations, Disposed of by Means Other than Sale, Spinoff [Member] | ||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | ||
Depreciation and amortization | 29 | |
Equity in earnings of partially-owned affiliates | (31) | |
Deferred income taxes | 562 | |
Equity-based compensation | 1 | |
Accrued income taxes | (808) | |
Capital expenditures | $ (91) |
Discontinued Operations Disposa
Discontinued Operations Disposal Group - Assets Held For Sale (Details) - USD ($) $ in Millions | Dec. 31, 2017 | Sep. 30, 2017 |
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | ||
Assets held for sale | $ 40 | $ 189 |
Noncurrent assets held for sale | 0 | 1,920 |
Liabilities held for sale | 0 | 72 |
Noncurrent liabilities held for sale | 0 | 173 |
Global Products | Disposal Group, Held-for-sale, Not Discontinued Operations [Member] | ||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | ||
Assets held for sale | 18 | |
Global Products | Scott Safety business [Member] | Disposal Group, Held-for-sale, Not Discontinued Operations [Member] | ||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | ||
Cash | 9 | |
Accounts receivable - net | 100 | |
Inventories | 75 | |
Other current assets | 5 | |
Assets held for sale | 189 | |
Property, plant and equipment - net | 79 | |
Goodwill | 1,248 | |
Other intangible assets - net | 592 | |
Other noncurrent assets | 1 | |
Noncurrent assets held for sale | 1,920 | |
Accounts payable | 37 | |
Accrued compensation and benefits | 10 | |
Other current liabilities | 25 | |
Liabilities held for sale | 72 | |
Other noncurrent liabilities | 173 | |
Noncurrent liabilities held for sale | $ 173 | |
Corporate Segment | Disposal Group, Held-for-sale, Not Discontinued Operations [Member] | ||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | ||
Assets held for sale | $ 22 |
Percentage-of-Completion Cont55
Percentage-of-Completion Contracts (Detail) - USD ($) $ in Millions | Dec. 31, 2017 | Sep. 30, 2017 |
Disclosure Percentage Of Completion Contracts Additional Information [Abstract] | ||
Costs and earnings in excess of billings related to contracts | $ 975 | $ 908 |
Billing in excess of costs and earnings on uncompleted contracts | $ 567 | $ 451 |
Inventories - Schedule of Inven
Inventories - Schedule of Inventories (Detail) - USD ($) $ in Millions | Dec. 31, 2017 | Sep. 30, 2017 |
Inventory Disclosure [Abstract] | ||
Raw materials and supplies | $ 1,006 | $ 919 |
Work-in-process | 543 | 567 |
Finished goods | 1,910 | 1,723 |
Inventories | $ 3,459 | $ 3,209 |
Goodwill and Other Intangible57
Goodwill and Other Intangible Assets - Changes in Carrying Amount of Goodwill (Details) $ in Millions | 3 Months Ended |
Dec. 31, 2017USD ($) | |
Goodwill [Roll Forward] | |
Beginning Balance | $ 19,688 |
Business Acquisitions | 0 |
Business Divestitures | (18) |
Currency Translation and Other | 47 |
Ending Balance | 19,717 |
Global Products | |
Goodwill [Roll Forward] | |
Business Divestitures | (18) |
Power Solutions | |
Goodwill [Roll Forward] | |
Beginning Balance | 1,097 |
Business Acquisitions | 0 |
Business Divestitures | 0 |
Currency Translation and Other | 8 |
Ending Balance | 1,105 |
Building Technologies & Solutions | Building Solutions North America | |
Goodwill [Roll Forward] | |
Beginning Balance | 9,637 |
Business Acquisitions | 0 |
Business Divestitures | 0 |
Currency Translation and Other | (4) |
Ending Balance | 9,633 |
Building Technologies & Solutions | Building Solutions EMEA/LA | |
Goodwill [Roll Forward] | |
Beginning Balance | 2,012 |
Business Acquisitions | 0 |
Business Divestitures | 0 |
Currency Translation and Other | 14 |
Ending Balance | 2,026 |
Building Technologies & Solutions | Building Solutions Asia Pacific | |
Goodwill [Roll Forward] | |
Beginning Balance | 1,255 |
Business Acquisitions | 0 |
Business Divestitures | 0 |
Currency Translation and Other | 28 |
Ending Balance | 1,283 |
Building Technologies & Solutions | Global Products | |
Goodwill [Roll Forward] | |
Beginning Balance | 5,687 |
Business Acquisitions | 0 |
Business Divestitures | (18) |
Currency Translation and Other | 1 |
Ending Balance | $ 5,670 |
Goodwill and Other Intangible58
Goodwill and Other Intangible Assets - Goodwill Additional Information (Details) - USD ($) $ in Millions | 3 Months Ended | |
Dec. 31, 2017 | Sep. 30, 2017 | |
Goodwill [Line Items] | ||
Goodwill transferred to assets held for sale | $ 18 | |
Building Solutions EMEA/LA | ||
Goodwill [Line Items] | ||
Accumulated goodwill impairment | $ 47 | |
Global Products | ||
Goodwill [Line Items] | ||
Goodwill transferred to assets held for sale | $ 18 |
Goodwill and Other Intangible59
Goodwill and Other Intangible Assets - Other Intangible Assets (Details) - USD ($) $ in Millions | Dec. 31, 2017 | Sep. 30, 2017 |
Intangible Assets [Line Items] | ||
Gross carrying amount, total intangible assets | $ 7,501 | $ 7,511 |
Net, Total Intangible Assets | 6,657 | 6,741 |
Finite-Lived Intangible Assets, Gross [Abstract] | ||
Gross Carrying Amount | 4,892 | 4,885 |
Accumulated Amortization | (844) | (770) |
Net, Total Amortized Intangible Assets | 4,048 | 4,115 |
Indefinite-Lived Intangible Assets (Excluding Goodwill) [Abstract] | ||
Carrying Amount, Gross and Net | 2,609 | 2,626 |
Patented Technology | ||
Finite-Lived Intangible Assets, Gross [Abstract] | ||
Gross Carrying Amount | 1,343 | 1,328 |
Accumulated Amortization | (174) | (137) |
Net, Total Amortized Intangible Assets | 1,169 | 1,191 |
Customer Relationships | ||
Finite-Lived Intangible Assets, Gross [Abstract] | ||
Gross Carrying Amount | 3,136 | 3,168 |
Accumulated Amortization | (503) | (486) |
Net, Total Amortized Intangible Assets | 2,633 | 2,682 |
Miscellaneous | ||
Finite-Lived Intangible Assets, Gross [Abstract] | ||
Gross Carrying Amount | 413 | 389 |
Accumulated Amortization | (167) | (147) |
Net, Total Amortized Intangible Assets | 246 | 242 |
Trademarks/trade names | ||
Indefinite-Lived Intangible Assets (Excluding Goodwill) [Abstract] | ||
Carrying Amount, Gross and Net | 2,486 | 2,483 |
Miscellaneous | ||
Indefinite-Lived Intangible Assets (Excluding Goodwill) [Abstract] | ||
Carrying Amount, Gross and Net | $ 123 | $ 143 |
Goodwill and Other Intangible60
Goodwill and Other Intangible Assets - Other Intangible Assets Additional Information (Details) - USD ($) $ in Millions | 3 Months Ended | |
Dec. 31, 2017 | Dec. 31, 2016 | |
Finite-Lived Intangible Assets [Line Items] | ||
Amortization of intangible assets | $ 94 | $ 149 |
Future amortization expense, 2018 | 376 | |
Future amortization expense, 2019 | 371 | |
Future amortization expense, 2020 | 365 | |
Future amortization expense, 2021 | 355 | |
Future amortization expense, 2022 | $ 346 |
Significant Restructuring Cos61
Significant Restructuring Costs Change in Restructuring Reserve - 2018 Restructuring Plan (Details) - USD ($) $ in Millions | 3 Months Ended | |
Dec. 31, 2017 | Dec. 31, 2016 | |
Restructuring Cost and Reserve [Line Items] | ||
Restructuring and impairment costs | $ 158 | $ 78 |
2018 Restructuring Plan | ||
Restructuring Cost and Reserve [Line Items] | ||
Restructuring and impairment costs | 158 | |
Restructuring Reserve, Settled without Cash | (30) | |
Restructuring Reserve | 128 | |
Employee Severance | 2018 Restructuring Plan | ||
Restructuring Cost and Reserve [Line Items] | ||
Restructuring and impairment costs | 125 | |
Restructuring Reserve, Settled without Cash | 0 | |
Restructuring Reserve | 125 | |
Fixed Asset Impairment | 2018 Restructuring Plan | ||
Restructuring Cost and Reserve [Line Items] | ||
Restructuring and impairment costs | 30 | |
Restructuring Reserve, Settled without Cash | (30) | |
Restructuring Reserve | 0 | |
Other Restructuring | 2018 Restructuring Plan | ||
Restructuring Cost and Reserve [Line Items] | ||
Restructuring and impairment costs | 3 | |
Restructuring Reserve, Settled without Cash | 0 | |
Restructuring Reserve | 3 | |
Global Products | 2018 Restructuring Plan | ||
Restructuring Cost and Reserve [Line Items] | ||
Restructuring and impairment costs | 76 | |
Building Solutions EMEA/LA | 2018 Restructuring Plan | ||
Restructuring Cost and Reserve [Line Items] | ||
Restructuring and impairment costs | 32 | |
Corporate Segment | 2018 Restructuring Plan | ||
Restructuring Cost and Reserve [Line Items] | ||
Restructuring and impairment costs | 24 | |
Building Solutions Asia Pacific | 2018 Restructuring Plan | ||
Restructuring Cost and Reserve [Line Items] | ||
Restructuring and impairment costs | 14 | |
Building Solutions North America | 2018 Restructuring Plan | ||
Restructuring Cost and Reserve [Line Items] | ||
Restructuring and impairment costs | 8 | |
Power Solutions | 2018 Restructuring Plan | ||
Restructuring Cost and Reserve [Line Items] | ||
Restructuring and impairment costs | $ 4 |
Significant Restructuring Cos62
Significant Restructuring Costs Change in Restructuring Reserve - 2017 Restructuring Plan (Details) - USD ($) $ in Millions | 3 Months Ended | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Sep. 30, 2017 | Sep. 30, 2016 | |
Restructuring Cost and Reserve [Line Items] | ||||
Restructuring and impairment costs | $ 158 | $ 78 | ||
2016 Restructuring Plan [Domain] | ||||
Restructuring Cost and Reserve [Line Items] | ||||
Restructuring and impairment costs | $ 288 | |||
2017 Restructuring Plan | ||||
Restructuring Cost and Reserve [Line Items] | ||||
Restructuring and impairment costs | $ 367 | |||
Payments for Restructuring | (28) | (75) | ||
Restructuring Reserve, Settled without Cash | (78) | |||
Adjustment to restructuring reserves | 25 | |||
Restructuring Reserve | 211 | 239 | ||
Employee Severance | 2017 Restructuring Plan | ||||
Restructuring Cost and Reserve [Line Items] | ||||
Restructuring and impairment costs | 276 | |||
Payments for Restructuring | (26) | (75) | ||
Restructuring Reserve, Settled without Cash | 0 | |||
Adjustment to restructuring reserves | 25 | |||
Restructuring Reserve | 200 | 226 | ||
Fixed Asset Impairment | 2017 Restructuring Plan | ||||
Restructuring Cost and Reserve [Line Items] | ||||
Restructuring and impairment costs | 77 | |||
Payments for Restructuring | 0 | 0 | ||
Restructuring Reserve, Settled without Cash | (77) | |||
Adjustment to restructuring reserves | 0 | |||
Restructuring Reserve | 0 | 0 | ||
Other Restructuring | 2017 Restructuring Plan | ||||
Restructuring Cost and Reserve [Line Items] | ||||
Restructuring and impairment costs | 14 | |||
Payments for Restructuring | (2) | 0 | ||
Restructuring Reserve, Settled without Cash | (1) | |||
Adjustment to restructuring reserves | 0 | |||
Restructuring Reserve | $ 11 | 13 | ||
Corporate Segment | 2016 Restructuring Plan [Domain] | ||||
Restructuring Cost and Reserve [Line Items] | ||||
Restructuring and impairment costs | 161 | |||
Corporate Segment | 2017 Restructuring Plan | ||||
Restructuring Cost and Reserve [Line Items] | ||||
Restructuring and impairment costs | 166 | |||
Building Technologies & Solutions EMEA LA [Member] | 2017 Restructuring Plan | ||||
Restructuring Cost and Reserve [Line Items] | ||||
Restructuring and impairment costs | 74 | |||
Building Solutions North America | 2017 Restructuring Plan | ||||
Restructuring Cost and Reserve [Line Items] | ||||
Restructuring and impairment costs | 59 | |||
Power Solutions | 2016 Restructuring Plan [Domain] | ||||
Restructuring Cost and Reserve [Line Items] | ||||
Restructuring and impairment costs | 66 | |||
Power Solutions | 2017 Restructuring Plan | ||||
Restructuring Cost and Reserve [Line Items] | ||||
Restructuring and impairment costs | 20 | |||
Building Solutions Asia Pacific | 2017 Restructuring Plan | ||||
Restructuring Cost and Reserve [Line Items] | ||||
Restructuring and impairment costs | 16 | |||
Global Products | 2016 Restructuring Plan [Domain] | ||||
Restructuring Cost and Reserve [Line Items] | ||||
Restructuring and impairment costs | $ 44 | |||
Global Products | 2017 Restructuring Plan | ||||
Restructuring Cost and Reserve [Line Items] | ||||
Restructuring and impairment costs | $ 32 |
Significant Restructuring Cos63
Significant Restructuring Costs Change in Restructuring Reserve - 2016 Restructuring Plan (Details) - USD ($) $ in Millions | 3 Months Ended | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Sep. 30, 2017 | Sep. 30, 2016 | |
Restructuring Cost and Reserve [Line Items] | ||||
Restructuring and impairment costs | $ 158 | $ 78 | ||
2016 Restructuring Plan [Domain] | ||||
Restructuring Cost and Reserve [Line Items] | ||||
Restructuring and impairment costs | $ 288 | |||
Committed restructuring liabilities assumed from Tyco Merger [Member] | ||||
Restructuring Cost and Reserve [Line Items] | ||||
Restructuring and impairment costs | 56 | 78 | ||
Restructuring Reserve, Settled without Cash | $ (22) | |||
2016 Restructuring Plan [Member] | ||||
Restructuring Cost and Reserve [Line Items] | ||||
Restructuring and impairment costs | 620 | |||
Payments for Restructuring | (6) | (88) | (32) | |
Restructuring Reserve, Settled without Cash | 1 | (221) | ||
Adjustment to restructuring reserves | (25) | |||
Restructuring Reserve | 86 | 92 | 445 | |
Employee Severance | Committed restructuring liabilities assumed from Tyco Merger [Member] | ||||
Restructuring Cost and Reserve [Line Items] | ||||
Restructuring and impairment costs | 78 | |||
Restructuring Reserve, Settled without Cash | (22) | |||
Employee Severance | 2016 Restructuring Plan [Member] | ||||
Restructuring Cost and Reserve [Line Items] | ||||
Restructuring and impairment costs | 368 | |||
Payments for Restructuring | (5) | (86) | (32) | |
Restructuring Reserve, Settled without Cash | 0 | 0 | ||
Adjustment to restructuring reserves | (25) | |||
Restructuring Reserve | 79 | 84 | 414 | |
Fixed Asset Impairment | Committed restructuring liabilities assumed from Tyco Merger [Member] | ||||
Restructuring Cost and Reserve [Line Items] | ||||
Restructuring and impairment costs | 0 | |||
Restructuring Reserve, Settled without Cash | 0 | |||
Fixed Asset Impairment | 2016 Restructuring Plan [Member] | ||||
Restructuring Cost and Reserve [Line Items] | ||||
Restructuring and impairment costs | 190 | |||
Payments for Restructuring | 0 | 0 | 0 | |
Restructuring Reserve, Settled without Cash | 0 | (190) | ||
Adjustment to restructuring reserves | 0 | |||
Restructuring Reserve | 0 | 0 | 0 | |
Other Restructuring | Committed restructuring liabilities assumed from Tyco Merger [Member] | ||||
Restructuring Cost and Reserve [Line Items] | ||||
Restructuring and impairment costs | 0 | |||
Restructuring Reserve, Settled without Cash | 0 | |||
Other Restructuring | 2016 Restructuring Plan [Member] | ||||
Restructuring Cost and Reserve [Line Items] | ||||
Restructuring and impairment costs | 62 | |||
Payments for Restructuring | (1) | (2) | 0 | |
Restructuring Reserve, Settled without Cash | 0 | (32) | ||
Adjustment to restructuring reserves | 0 | |||
Restructuring Reserve | 5 | 6 | 30 | |
Currency Translation | Committed restructuring liabilities assumed from Tyco Merger [Member] | ||||
Restructuring Cost and Reserve [Line Items] | ||||
Restructuring and impairment costs | 0 | |||
Restructuring Reserve, Settled without Cash | 0 | |||
Currency Translation | 2016 Restructuring Plan [Member] | ||||
Restructuring Cost and Reserve [Line Items] | ||||
Restructuring and impairment costs | 0 | |||
Payments for Restructuring | 0 | 0 | 0 | |
Restructuring Reserve, Settled without Cash | 1 | 1 | ||
Adjustment to restructuring reserves | 0 | |||
Restructuring Reserve | $ 2 | 2 | 1 | |
Building Solutions EMEA/LA | 2016 Restructuring Plan [Domain] | ||||
Restructuring Cost and Reserve [Line Items] | ||||
Restructuring and impairment costs | 17 | |||
Corporate Segment | 2016 Restructuring Plan [Domain] | ||||
Restructuring Cost and Reserve [Line Items] | ||||
Restructuring and impairment costs | 161 | |||
Power Solutions | 2016 Restructuring Plan [Domain] | ||||
Restructuring Cost and Reserve [Line Items] | ||||
Restructuring and impairment costs | 66 | |||
Adient spin-off [Member] | Transfer To Held for Sale [Member] | 2016 Restructuring Plan [Member] | ||||
Restructuring Cost and Reserve [Line Items] | ||||
Restructuring Reserve, Settled without Cash | (216) | |||
Adient spin-off [Member] | Transfer To Held for Sale [Member] | Employee Severance | 2016 Restructuring Plan [Member] | ||||
Restructuring Cost and Reserve [Line Items] | ||||
Restructuring Reserve, Settled without Cash | (194) | |||
Adient spin-off [Member] | Transfer To Held for Sale [Member] | Fixed Asset Impairment | 2016 Restructuring Plan [Member] | ||||
Restructuring Cost and Reserve [Line Items] | ||||
Restructuring Reserve, Settled without Cash | 0 | |||
Adient spin-off [Member] | Transfer To Held for Sale [Member] | Other Restructuring | 2016 Restructuring Plan [Member] | ||||
Restructuring Cost and Reserve [Line Items] | ||||
Restructuring Reserve, Settled without Cash | (22) | |||
Adient spin-off [Member] | Transfer To Held for Sale [Member] | Currency Translation | 2016 Restructuring Plan [Member] | ||||
Restructuring Cost and Reserve [Line Items] | ||||
Restructuring Reserve, Settled without Cash | 0 | |||
Scott Safety business [Member] | Transfer To Held for Sale [Member] | 2016 Restructuring Plan [Member] | ||||
Restructuring Cost and Reserve [Line Items] | ||||
Restructuring Reserve, Settled without Cash | (3) | |||
Scott Safety business [Member] | Transfer To Held for Sale [Member] | Employee Severance | 2016 Restructuring Plan [Member] | ||||
Restructuring Cost and Reserve [Line Items] | ||||
Restructuring Reserve, Settled without Cash | (3) | |||
Scott Safety business [Member] | Transfer To Held for Sale [Member] | Fixed Asset Impairment | 2016 Restructuring Plan [Member] | ||||
Restructuring Cost and Reserve [Line Items] | ||||
Restructuring Reserve, Settled without Cash | 0 | |||
Scott Safety business [Member] | Transfer To Held for Sale [Member] | Other Restructuring | 2016 Restructuring Plan [Member] | ||||
Restructuring Cost and Reserve [Line Items] | ||||
Restructuring Reserve, Settled without Cash | 0 | |||
Scott Safety business [Member] | Transfer To Held for Sale [Member] | Currency Translation | 2016 Restructuring Plan [Member] | ||||
Restructuring Cost and Reserve [Line Items] | ||||
Restructuring Reserve, Settled without Cash | $ 0 | |||
Adient | Discontinued Operations | 2016 Restructuring Plan [Member] | ||||
Restructuring Cost and Reserve [Line Items] | ||||
Restructuring and impairment costs | $ 332 |
Significant Restructuring Cos64
Significant Restructuring Costs - Additional Information (Detail) $ in Millions | 3 Months Ended | 27 Months Ended | |
Dec. 31, 2017USD ($)EmployeesPlant | Dec. 31, 2016USD ($) | Dec. 31, 2017EmployeesPlant | |
Restructuring Cost and Reserve [Line Items] | |||
Restructuring and impairment costs | $ | $ 158 | $ 78 | |
Number of employees to be severed | 9,200 | ||
Number of employees severed | 1,800 | 1,800 | |
Number of plants to be closed | Plant | 11 | ||
Plants closed | Plant | 4 | 4 | |
Building Technologies & Solutions | |||
Restructuring Cost and Reserve [Line Items] | |||
Number of employees to be severed | 7,300 | ||
Number of plants to be closed | Plant | 11 | ||
Corporate Segment | |||
Restructuring Cost and Reserve [Line Items] | |||
Number of employees to be severed | 1,700 | ||
Power Solutions | |||
Restructuring Cost and Reserve [Line Items] | |||
Number of employees to be severed | 200 |
Income Taxes - Additional Infor
Income Taxes - Additional Information (Detail) - USD ($) $ in Millions | 3 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Sep. 30, 2017 | |
Income Taxes, Additional Information [Line Items] | |||
Discrete non-cash tax charge | $ 101 | ||
Effective Income Tax Rate Reconciliation, Repatriation of Foreign Earnings, Amount | $ 305 | ||
Effective income tax rate | 50.00% | (7.00%) | |
U.S. federal statutory income tax rate | 21.00% | 35.00% | |
Gross tax effected unrecognized tax benefits | $ 2,173 | ||
Amount of unrecognized tax benefits which may impact effective tax rate | 2,047 | ||
Total net accrued interest, net of tax benefit | $ 99 | ||
Estimated benefit to tax expense | $ 25 | ||
Restructuring and impairment costs | 158 | $ 78 | |
Transaction and integration costs | 50 | 130 | |
Effective Income Tax Rate Reconciliation, Nondeductible Expense, Restructuring Charges, Amount | $ 24 | 14 | |
Blended 2018 U.S. Effective Tax Rate [Member] | |||
Income Taxes, Additional Information [Line Items] | |||
U.S. federal statutory income tax rate | 25.00% | ||
U.S. Effective Tax Rate, Prior to Enacted Tax Reform [Member] | |||
Income Taxes, Additional Information [Line Items] | |||
U.S. federal statutory income tax rate | 35.00% | ||
Change in Entity Status [Domain] | |||
Income Taxes, Additional Information [Line Items] | |||
Effective Income Tax Rate Reconciliation, Other Adjustments, Amount | 101 | ||
Transaction and integration costs [Member] | |||
Income Taxes, Additional Information [Line Items] | |||
Effective Income Tax Rate Reconciliation, Other Adjustments, Amount | $ 7 | $ 11 | |
Other Property [Member] | Blended 2018 U.S. Effective Tax Rate [Member] | |||
Income Taxes, Additional Information [Line Items] | |||
U.S. federal statutory income tax rate | 8.00% | ||
Cash [Member] | Blended 2018 U.S. Effective Tax Rate [Member] | |||
Income Taxes, Additional Information [Line Items] | |||
U.S. federal statutory income tax rate | 15.50% |
Income Taxes - Tax Jurisdiction
Income Taxes - Tax Jurisdictions and Years Currently under Audit Exam (Details) $ in Millions | 3 Months Ended |
Dec. 31, 2017USD ($) | |
Income Tax Examination [Line Items] | |
Estimated benefit to tax expense | $ 25 |
Belgium | Earliest tax year under exam | |
Income Tax Examination [Line Items] | |
Tax years currently under audit exam | 2,015 |
Belgium | Latest tax year under exam | |
Income Tax Examination [Line Items] | |
Tax years currently under audit exam | 2,016 |
Brazil | Earliest tax year under exam | |
Income Tax Examination [Line Items] | |
Tax years currently under audit exam | 2,011 |
Brazil | Latest tax year under exam | |
Income Tax Examination [Line Items] | |
Tax years currently under audit exam | 2,012 |
CANADA | Earliest tax year under exam | |
Income Tax Examination [Line Items] | |
Tax years currently under audit exam | 2,013 |
CANADA | Latest tax year under exam | |
Income Tax Examination [Line Items] | |
Tax years currently under audit exam | 2,014 |
CHINA | Earliest tax year under exam | |
Income Tax Examination [Line Items] | |
Tax years currently under audit exam | 2,008 |
CHINA | Latest tax year under exam | |
Income Tax Examination [Line Items] | |
Tax years currently under audit exam | 2,016 |
France | Earliest tax year under exam | |
Income Tax Examination [Line Items] | |
Tax years currently under audit exam | 2,010 |
France | Latest tax year under exam | |
Income Tax Examination [Line Items] | |
Tax years currently under audit exam | 2,016 |
Germany | Earliest tax year under exam | |
Income Tax Examination [Line Items] | |
Tax years currently under audit exam | 2,007 |
Germany | Latest tax year under exam | |
Income Tax Examination [Line Items] | |
Tax years currently under audit exam | 2,015 |
JAPAN | |
Income Tax Examination [Line Items] | |
Tax years currently under audit exam | 2,016 |
SPAIN | Earliest tax year under exam | |
Income Tax Examination [Line Items] | |
Tax years currently under audit exam | 2,010 |
SPAIN | Latest tax year under exam | |
Income Tax Examination [Line Items] | |
Tax years currently under audit exam | 2,014 |
SWITZERLAND | Earliest tax year under exam | |
Income Tax Examination [Line Items] | |
Tax years currently under audit exam | 2,011 |
SWITZERLAND | Latest tax year under exam | |
Income Tax Examination [Line Items] | |
Tax years currently under audit exam | 2,014 |
United Kingdom | Earliest tax year under exam | |
Income Tax Examination [Line Items] | |
Tax years currently under audit exam | 2,011 |
United Kingdom | Latest tax year under exam | |
Income Tax Examination [Line Items] | |
Tax years currently under audit exam | 2,014 |
Pension and Postretirement Pl67
Pension and Postretirement Plans - Components of Net Periodic Benefit Cost (Detail) - USD ($) $ in Millions | 3 Months Ended | |
Dec. 31, 2017 | Dec. 31, 2016 | |
Defined Benefit Plan Disclosure [Line Items] | ||
Net actuarial gain | $ 0 | $ 117 |
U.S. Pension Plans | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Service cost | 4 | 5 |
Interest cost | 26 | 28 |
Expected return on plan assets | (57) | (59) |
Net actuarial gain | 0 | 117 |
Settlement gain | 0 | (8) |
Net periodic benefit credit | (27) | (151) |
Non-U.S. Pension Plans | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Service cost | 6 | 8 |
Interest cost | 14 | 12 |
Expected return on plan assets | (29) | (23) |
Net periodic benefit credit | (9) | (3) |
Postretirement Benefits | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Service cost | 0 | 1 |
Interest cost | 2 | 1 |
Expected return on plan assets | (2) | (3) |
Net periodic benefit credit | $ 0 | $ (1) |
Debt and Financing Arrangemen68
Debt and Financing Arrangements - Additional Information (Detail) € in Millions, $ in Millions | 3 Months Ended | ||||
Dec. 31, 2017USD ($) | Dec. 31, 2016USD ($) | Dec. 31, 2017EUR (€) | Dec. 31, 2017USD ($) | Sep. 30, 2016USD ($) | |
Debt Instrument [Line Items] | |||||
Transactions costs related to debt exchange offers | $ 17 | ||||
150 million euro floating rate term loan maturing in September 2018 [Member] | |||||
Debt Instrument [Line Items] | |||||
Debt Instrument, Term | 364 days | ||||
Debt Instrument, Face Amount | € | € 150 | ||||
Zero Point Zero Percent Due Two Thousand Twenty-One [Member] | |||||
Debt Instrument [Line Items] | |||||
Debt Instrument, Face Amount | € | € 750 | ||||
Interest Rate Terms | 0 | ||||
One Point Four Percent Due Two Thousand Eighteen | |||||
Debt Instrument [Line Items] | |||||
Repayments of Debt | $ 300 | ||||
Interest Rate Terms | 0.014 | ||||
Tyco International Holding S.a.r.L. (TSarL) [Member] | |||||
Debt Instrument [Line Items] | |||||
Repayments of Debt | $ 1,900 | ||||
Long-term Debt | $ 1,800 | $ 4,000 |
Debt and Financing Arrangemen69
Debt and Financing Arrangements - Components of Net Financing Charges (Details) - USD ($) $ in Millions | 3 Months Ended | |
Dec. 31, 2017 | Dec. 31, 2016 | |
Debt Disclosure [Abstract] | ||
Interest expense, net of capitalized interest costs | $ 114 | $ 110 |
Banking fees and bond cost amortization | 13 | 30 |
Interest income | (9) | (7) |
Net foreign exchange results for financing activities | (2) | 3 |
Net financing charges | $ 116 | $ 136 |
Stock-Based Compensation (Detai
Stock-Based Compensation (Details) - $ / shares | 3 Months Ended | |
Dec. 31, 2017 | Dec. 31, 2016 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Expected life of option (years) | 6 years 182 days | |
Stock options | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Stock options, number granted | 1,355,595 | 2,830,826 |
Stock options, weighted average grant date fair value | $ 7.05 | $ 7.81 |
Risk free interest rate - minimum | 1.23% | |
Risk free interest rate - maximum | 1.48% | |
Risk-free interest rate | 2.28% | |
Expected volatility of the Company's stock | 23.70% | 24.60% |
Expected dividend yield on the Company's stock | 2.78% | 2.21% |
Stock options | Minimum [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Expected life of option (years) | 4 years 9 months | |
Stock options | Maximum [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Expected life of option (years) | 6 years 6 months | |
Stock appreciation rights | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Equity instruments other than options, number granted | 0 | 15,693 |
Equity instruments other than options, weighted average grant date fair value | $ 0 | $ 8.28 |
Restricted stock/units | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Equity instruments other than options, number granted | 2,051,817 | 1,512,544 |
Equity instruments other than options, weighted average grant date fair value | $ 37.36 | $ 41.74 |
Performance shares | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Equity instruments other than options, number granted | 496,478 | 846,725 |
Equity instruments other than options, weighted average grant date fair value | $ 36.31 | $ 48.40 |
Risk-free interest rate | 1.92% | 1.40% |
Expected volatility of the Company's stock | 21.70% | 21.00% |
Earnings Per Share - Earnings P
Earnings Per Share - Earnings Per Share (Detail) - USD ($) shares in Millions, $ in Millions | 3 Months Ended | |
Dec. 31, 2017 | Dec. 31, 2016 | |
Earnings Per Share [Abstract] | ||
Income from continuing operations | $ 230 | $ 372 |
Loss from discontinued operations | 0 | (43) |
Basic and diluted income available to shareholders | $ 230 | $ 329 |
Weighted Average Shares Outstanding | ||
Basic weighted average shares outstanding | 926.1 | 937.2 |
Effect of dilutive securities: | ||
Stock options, unvested restricted stock and unvested performance share awards | 7.2 | 10.2 |
Diluted weighted average shares outstanding | 933.3 | 947.4 |
Antidilutive Securities | ||
Options to purchase shares | 1 | 0.1 |
Earnings Per Share - Additional
Earnings Per Share - Additional Information (Detail) - $ / shares | 3 Months Ended | |
Dec. 31, 2017 | Dec. 31, 2016 | |
Earnings Per Share [Abstract] | ||
Dividend declared | $ 0.26 | $ 0.25 |
Equity and Noncontrolling Int73
Equity and Noncontrolling Interests - Equity Attributable to Johnson Controls and Noncontrolling Interests (Details) - USD ($) $ in Millions | 3 Months Ended | |
Dec. 31, 2017 | Dec. 31, 2016 | |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||
Beginning balance | $ 20,447 | |
Beginning balance | 920 | |
Beginning balance | 21,367 | |
Foreign currency translation adjustments | 79 | $ (703) |
Realized and unrealized gains (losses) on derivatives | (1) | 4 |
Realized and unrealized losses on marketable securities | 0 | (2) |
Other comprehensive income (loss) | 78 | (701) |
Comprehensive income (loss) attributable to Johnson Controls | 289 | (332) |
Comprehensive income attributable to noncontrolling interests | 60 | 9 |
Total comprehensive income (loss) | 349 | (323) |
Repurchase of ordinary shares | (150) | 0 |
Ending balance | 20,535 | |
Ending balance | 965 | |
Ending balance | 21,500 | |
Net income attributable to Johnson Controls | 230 | 329 |
Equity Attributable to Johnson Controls | ||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||
Beginning balance | 20,447 | 24,118 |
Foreign currency translation adjustments | 58 | (659) |
Realized and unrealized gains (losses) on derivatives | 1 | 0 |
Realized and unrealized losses on marketable securities | 0 | (2) |
Other comprehensive income (loss) | 59 | (661) |
Comprehensive income (loss) attributable to Johnson Controls | 289 | (332) |
Cash dividends - ordinary shares | (242) | (236) |
Repurchase of ordinary shares | (150) | 0 |
Change In noncontrolling interest share | 0 | 0 |
Spin-off of Adient | 0 | (4,020) |
Other, including options exercised | 12 | 47 |
Ending balance | 20,535 | 19,577 |
Net income attributable to Johnson Controls | 230 | 329 |
Equity Attributable to Noncontrolling Interest | ||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||
Beginning balance | 920 | 972 |
Income attributable to noncontrolling interests | 28 | 36 |
Foreign currency translation adjustments | 16 | (35) |
Realized and unrealized gains on derivatives | 1 | 4 |
Realized and unrealized gains on marketable securities | 0 | 0 |
Other comprehensive income (loss) | 17 | (31) |
Comprehensive income attributable to noncontrolling interests | 45 | 5 |
Cash dividends - ordinary shares | 0 | 0 |
Repurchase of ordinary shares | 0 | 0 |
Change In noncontrolling interest share | 0 | (20) |
Spin-off of Adient | 0 | (138) |
Other, including options exercised | 0 | 0 |
Ending balance | 965 | 819 |
Total Equity Excluding Redeemable Noncontrolling Interest [Member] | ||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||
Beginning balance | 21,367 | 25,090 |
Net income | 258 | 365 |
Foreign currency translation adjustments | 74 | (694) |
Realized and unrealized gains (losses) on derivatives | 2 | 4 |
Realized and unrealized losses on marketable securities | 0 | (2) |
Other comprehensive income (loss) | 76 | (692) |
Total comprehensive income (loss) | 334 | (327) |
Cash dividends - ordinary shares | (242) | (236) |
Repurchase of ordinary shares | (150) | 0 |
Change In noncontrolling interest share | 0 | (20) |
Spin-off of Adient | 0 | (4,158) |
Other, including options exercised | 12 | 47 |
Ending balance | 21,500 | 20,396 |
Parent Company [Member] | ||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||
Beginning balance | 20,447 | |
Beginning balance | 0 | |
Beginning balance | 20,447 | |
Foreign currency translation adjustments | (659) | |
Realized and unrealized gains (losses) on derivatives | 1 | 0 |
Realized and unrealized losses on marketable securities | 0 | (2) |
Other comprehensive income (loss) | 59 | (661) |
Comprehensive income (loss) attributable to Johnson Controls | 289 | (332) |
Comprehensive income attributable to noncontrolling interests | 0 | 0 |
Total comprehensive income (loss) | 289 | (332) |
Ending balance | 20,535 | |
Ending balance | 0 | |
Ending balance | 20,535 | |
Net income attributable to Johnson Controls | 230 | 329 |
Parent Company [Member] | Equity Attributable to Johnson Controls | ||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||
Foreign currency translation adjustments | 58 | |
Adjustments for New Accounting Pronouncement [Member] | Equity Attributable to Johnson Controls | ||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||
New Accounting Pronouncement or Change in Accounting Principle, Cumulative Effect of Change on Equity or Net Assets | 179 | 0 |
Adjustments for New Accounting Pronouncement [Member] | Equity Attributable to Noncontrolling Interest | ||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||
New Accounting Pronouncement or Change in Accounting Principle, Cumulative Effect of Change on Equity or Net Assets | 0 | 0 |
Adjustments for New Accounting Pronouncement [Member] | Total Equity Excluding Redeemable Noncontrolling Interest [Member] | ||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||
New Accounting Pronouncement or Change in Accounting Principle, Cumulative Effect of Change on Equity or Net Assets | $ 179 | $ 0 |
Equity and Noncontrolling Int74
Equity and Noncontrolling Interests Equity and Noncontrolling Interests - Additional Information (Details) - USD ($) $ in Millions | 3 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Sep. 30, 2016 | |
Equity, Class of Treasury Stock [Line Items] | |||
Deferred tax asset from stock options exercised and restricted stock vestings | $ 179 | ||
Stock repurchase program, authorized amount | 1,000 | ||
Treasury Stock, Value, Acquired, Cost Method | 150 | $ 0 | |
Stock Repurchase Program, Remaining Authorized Repurchase Amount | 1,200 | ||
Post Merger Stock Repurchase Program [Member] | |||
Equity, Class of Treasury Stock [Line Items] | |||
Stock repurchase program, authorized amount | $ 1,000 | ||
Parent | |||
Equity, Class of Treasury Stock [Line Items] | |||
Stockholder's equity, spin-off of Adient | 0 | (4,020) | |
Treasury Stock, Value, Acquired, Cost Method | $ 150 | $ 0 |
Equity and Noncontrolling Int75
Equity and Noncontrolling Interests - Changes in Redeemable Noncontrolling Interests (Details) - USD ($) $ in Millions | 3 Months Ended | |
Dec. 31, 2017 | Dec. 31, 2016 | |
Parent | ||
Stockholders' Equity Attributable to Redeemable Noncontrolling Interest [Roll Forward] | ||
Spin-off of Adient | $ 0 | $ 4,020 |
Redeemable Noncontrolling Interests [Member] | ||
Stockholders' Equity Attributable to Redeemable Noncontrolling Interest [Roll Forward] | ||
Beginning balance | 211 | 234 |
Net income | 13 | 13 |
Foreign currency translation adjustments | 5 | (9) |
Realized and unrealized losses on derivatives | (3) | 0 |
Dividends | 0 | (43) |
Spin-off of Adient | 0 | (36) |
Ending balance | $ 226 | $ 159 |
Equity and Noncontrolling Int76
Equity and Noncontrolling Interests - Accumulated Other Comprehensive Income (Details) - USD ($) $ in Millions | 3 Months Ended | |||
Dec. 31, 2017 | Dec. 31, 2016 | Sep. 30, 2017 | ||
Realized and unrealized gains (losses) on derivatives | ||||
Current period changes in fair value | $ (1) | $ 4 | ||
Pension and postretirement plans | ||||
Accumulated other comprehensive loss | (414) | (1,233) | $ (473) | |
Foreign Currency Translation Adjustments | ||||
Foreign currency translation adjustments | ||||
Balance at beginning of period | (481) | (1,152) | ||
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Adjustment, Net of Tax, Portion Attributable to Parent | 58 | (659) | ||
Adient spin-off impact | 0 | 563 | ||
Balance at end of period | (423) | (1,248) | ||
Aggregate adjustment for period, tax effect | [1] | 1 | 5 | |
Adient spin-off impact, tax effect | 0 | 0 | ||
Realized and Unrealized Gains (Losses) on Derivatives | ||||
Realized and unrealized gains (losses) on derivatives | ||||
Balance at beginning of period | 6 | 4 | ||
Current period changes in fair value | 6 | 6 | ||
Reclassification to income | (5) | (6) | ||
Adient spin-off impact | 0 | 16 | ||
Balance at end of period | 7 | 20 | ||
Current period changes in fair value, tax effect | 3 | 4 | ||
Reclassifcation to income, tax effect | [2] | (2) | (3) | |
Adient spin-off, tax effect | 0 | 6 | ||
Realized and unrealized gains (losses) on marketable securities | ||||
Realized and unrealized gains (losses) on marketable securities | ||||
Balance at beginning of period | 4 | (1) | ||
Current period changes in fair value | 0 | (2) | ||
Balance at end of period | 4 | (3) | ||
Current period changes in fair value, tax effect | 0 | 0 | ||
Pension And Postretirement Plans | ||||
Pension and postretirement plans | ||||
Balance at beginning of period | (2) | (4) | ||
Adient spin-off impact | 0 | 2 | ||
Balance at end of period | (2) | (2) | ||
Adient spin-off, tax effect | 0 | $ 0 | ||
Scott Safety business [Member] | ||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Reclassification Adjustment from AOCI, Realized upon Sale or Liquidation, Net of Tax | $ 12 | |||
[1] | * During the three months ended December 31, 2017, $12 million of cumulative CTA were recognized as part of the divestiture-related gain recognized as a result of the divestiture of Scott Safety. | |||
[2] | * Refer to Note 15, "Derivative Instruments and Hedging Activities," of the notes to consolidated financial statements for disclosure of the line items in the consolidated statements of income affected by reclassifications from AOCI into income related to derivatives. |
Derivative Instruments and He77
Derivative Instruments and Hedging Activities - Location and Fair Values of Derivative Instruments and Hedging Activities (Detail) € in Millions, shares in Millions, $ in Millions, ¥ in Billions | 3 Months Ended | 12 Months Ended | ||||||
Dec. 31, 2017EUR (€)TSwapshares | Dec. 31, 2016 | Sep. 30, 2017EUR (€)TSwapshares | Dec. 31, 2017USD ($)TSwap | Dec. 31, 2017JPY (¥)TSwap | Sep. 30, 2017USD ($)TSwap | Sep. 30, 2017JPY (¥)TSwap | Sep. 30, 2016USD ($)Swap | |
Derivative Instruments [Line Items] | ||||||||
Hedge Percentage For Foreign Exchange Transactional Exposures Minimum | 70.00% | |||||||
Hedge Percentage For Foreign Exchange Transactional Exposures Maximum | 90.00% | |||||||
Number of Interest Rate Derivatives Held | Swap | 0 | 0 | 0 | 0 | 0 | 0 | ||
Number of interest rate derivatives terminated | 4 | |||||||
Derivative, amount of hedged ordinary shares | shares | 1.8 | 1.4 | ||||||
Derivative assets | $ 130 | $ 91 | ||||||
Derivative liabilities | $ 3,023 | $ 2,105 | ||||||
Copper [Member] | ||||||||
Derivative Instruments [Line Items] | ||||||||
Derivative, Nonmonetary Notional Amount | T | 3,765 | 1,962 | 3,765 | 3,765 | 1,962 | 1,962 | ||
Polypropylene [Member] | ||||||||
Derivative Instruments [Line Items] | ||||||||
Derivative, Nonmonetary Notional Amount | T | 21,762 | 19,563 | 21,762 | 21,762 | 19,563 | 19,563 | ||
Lead [Member] | ||||||||
Derivative Instruments [Line Items] | ||||||||
Derivative, Nonmonetary Notional Amount | T | 13,791 | 24,705 | 13,791 | 13,791 | 24,705 | 24,705 | ||
Aluminum [Member] | ||||||||
Derivative Instruments [Line Items] | ||||||||
Derivative, Nonmonetary Notional Amount | T | 5,295 | 2,169 | 5,295 | 5,295 | 2,169 | 2,169 | ||
Tin [Member] | ||||||||
Derivative Instruments [Line Items] | ||||||||
Derivative, Nonmonetary Notional Amount | T | 1,655 | 1,715 | 1,655 | 1,655 | 1,715 | 1,715 | ||
Equity swap | ||||||||
Derivative Instruments [Line Items] | ||||||||
Derivative, Amount of Hedged Item | $ 73 | $ 58 | ||||||
Foreign Currency Denominated Debt [Member] | ||||||||
Derivative Instruments [Line Items] | ||||||||
Notional amount | ¥ | ¥ 35 | ¥ 35 | ||||||
Designated as Hedging Instrument | ||||||||
Derivative Instruments [Line Items] | ||||||||
Derivative assets | 41 | 36 | ||||||
Derivative liabilities | 3,007 | 2,080 | ||||||
Designated as Hedging Instrument | Other Current Assets | Foreign Currency Exchange Derivatives | ||||||||
Derivative Instruments [Line Items] | ||||||||
Derivative assets | 35 | 27 | ||||||
Designated as Hedging Instrument | Other Current Assets | Commodity Derivatives | ||||||||
Derivative Instruments [Line Items] | ||||||||
Derivative assets | 6 | 9 | ||||||
Designated as Hedging Instrument | Other Noncurrent Assets | Equity swap | ||||||||
Derivative Instruments [Line Items] | ||||||||
Derivative assets | 0 | 0 | ||||||
Designated as Hedging Instrument | Other Current Liabilities | Foreign Currency Exchange Derivatives | ||||||||
Derivative Instruments [Line Items] | ||||||||
Derivative liabilities | 25 | 21 | ||||||
Designated as Hedging Instrument | Other Current Liabilities | Commodity Derivatives | ||||||||
Derivative Instruments [Line Items] | ||||||||
Derivative liabilities | 1 | 1 | ||||||
Designated as Hedging Instrument | Long-term Debt | Foreign Currency Denominated Debt [Member] | ||||||||
Derivative Instruments [Line Items] | ||||||||
Derivative liabilities | 2,981 | 2,058 | ||||||
Not Designated as Hedging Instrument | ||||||||
Derivative Instruments [Line Items] | ||||||||
Derivative assets | 89 | 55 | ||||||
Derivative liabilities | 16 | 25 | ||||||
Not Designated as Hedging Instrument | Other Current Assets | Foreign Currency Exchange Derivatives | ||||||||
Derivative Instruments [Line Items] | ||||||||
Derivative assets | 21 | 0 | ||||||
Not Designated as Hedging Instrument | Other Current Assets | Commodity Derivatives | ||||||||
Derivative Instruments [Line Items] | ||||||||
Derivative assets | 0 | 0 | ||||||
Not Designated as Hedging Instrument | Other Noncurrent Assets | Equity swap | ||||||||
Derivative Instruments [Line Items] | ||||||||
Derivative assets | 68 | 55 | ||||||
Not Designated as Hedging Instrument | Other Current Liabilities | Foreign Currency Exchange Derivatives | ||||||||
Derivative Instruments [Line Items] | ||||||||
Derivative liabilities | 16 | 25 | ||||||
Not Designated as Hedging Instrument | Other Current Liabilities | Commodity Derivatives | ||||||||
Derivative Instruments [Line Items] | ||||||||
Derivative liabilities | 0 | 0 | ||||||
Not Designated as Hedging Instrument | Long-term Debt | Foreign Currency Denominated Debt [Member] | ||||||||
Derivative Instruments [Line Items] | ||||||||
Derivative liabilities | $ 0 | $ 0 | ||||||
One Point Four Percent Due Two Thousand Eighteen | Interest Rate Swaps | ||||||||
Derivative Instruments [Line Items] | ||||||||
Number of Interest Rate Derivatives Held | Swap | 3 | |||||||
Notional amount | $ 300 | |||||||
Debt Instrument, Interest Rate, Stated Percentage | 1.40% | |||||||
2.6% due 2017 | Interest Rate Swaps | ||||||||
Derivative Instruments [Line Items] | ||||||||
Number of Interest Rate Derivatives Held | Swap | 4 | |||||||
Notional amount | $ 400 | |||||||
Debt Instrument, Interest Rate, Stated Percentage | 2.60% | |||||||
7.125% due 2017 | Interest Rate Swaps | ||||||||
Derivative Instruments [Line Items] | ||||||||
Number of Interest Rate Derivatives Held | Swap | 1 | |||||||
Notional amount | $ 150 | |||||||
Debt Instrument, Interest Rate, Stated Percentage | 7.125% | |||||||
One billion euro net investment hedge [Member] | Foreign Currency Denominated Debt [Member] | ||||||||
Derivative Instruments [Line Items] | ||||||||
Notional amount | € | € 1,000 | € 1,000 | ||||||
423 million euro net investment hedge [Member] | Foreign Currency Denominated Debt [Member] | ||||||||
Derivative Instruments [Line Items] | ||||||||
Notional amount | € | 423 | 423 | ||||||
58 million euro net investment hedge [Member] | Foreign Currency Denominated Debt [Member] | ||||||||
Derivative Instruments [Line Items] | ||||||||
Notional amount | € | € 58 | € 58 |
Derivative Instruments and He78
Derivative Instruments and Hedging Activities Derivative Instruments and Hedging Activities - Offsetting Assets and Liabilities (Details) - USD ($) | Dec. 31, 2017 | Sep. 30, 2017 |
Offsetting Derivative Assets and Liabilities [Abstract] | ||
Collateral Already Posted, Aggregate Fair Value | $ 0 | $ 0 |
Derivative assets | 130,000,000 | 91,000,000 |
Gross amount eligible for offsetting, derivative assets | (27,000,000) | (16,000,000) |
Net derivative amount, derivative assets | 103,000,000 | 75,000,000 |
Derivative liabilities | 3,023,000,000 | 2,105,000,000 |
Gross amount eligible for offsetting, derivative liabilities | (27,000,000) | (16,000,000) |
Net derivative amount, derivative liabilities | $ 2,996,000,000 | $ 2,089,000,000 |
Derivative Instruments and He79
Derivative Instruments and Hedging Activities - Location and Amount of Gains and Losses on Derivative Instruments and Related Hedge Items (Detail) - USD ($) $ in Millions | 3 Months Ended | |
Dec. 31, 2017 | Dec. 31, 2016 | |
Derivative Instruments Not Designated as Hedging Instruments [Abstract] | ||
Gain (Loss) Recognized in Income, Derivative not Recognized as Hedge | $ 6 | $ 7 |
Foreign Currency Exchange Derivatives | Cost of Sales | ||
Derivative Instruments Not Designated as Hedging Instruments [Abstract] | ||
Gain (Loss) Recognized in Income, Derivative not Recognized as Hedge | 2 | 1 |
Foreign Currency Exchange Derivatives | Discontinued Operations [Domain] | ||
Derivative Instruments Not Designated as Hedging Instruments [Abstract] | ||
Gain (Loss) Recognized in Income, Derivative not Recognized as Hedge | 0 | 5 |
Foreign Currency Exchange Derivatives | Net Financing Charges | ||
Derivative Instruments Not Designated as Hedging Instruments [Abstract] | ||
Gain (Loss) Recognized in Income, Derivative not Recognized as Hedge | 4 | 4 |
Foreign Currency Exchange Derivatives | Provision For Income Tax [Member] | ||
Derivative Instruments Not Designated as Hedging Instruments [Abstract] | ||
Gain (Loss) Recognized in Income, Derivative not Recognized as Hedge | 2 | (3) |
Equity swap | Selling, General And Administrative | ||
Derivative Instruments Not Designated as Hedging Instruments [Abstract] | ||
Gain (Loss) Recognized in Income, Derivative not Recognized as Hedge | (2) | 0 |
Net Investment Hedging [Member] | ||
Cash Flow Hedges Derivative Instruments at Fair Value, Net [Abstract] | ||
Derivative Instruments, Gain (Loss) Recognized in Other Comprehensive Income (Loss), Effective Portion, Net | (36) | 47 |
Cash Flow Hedging | ||
Cash Flow Hedges Derivative Instruments at Fair Value, Net [Abstract] | ||
Derivative Instruments, Gain (Loss) Recognized in Other Comprehensive Income (Loss), Effective Portion, Net | 9 | 10 |
Amount of Gain (Loss) Reclassified from AOCI into Income | 7 | 9 |
Cash Flow Hedging | Foreign Currency Exchange Derivatives | ||
Cash Flow Hedges Derivative Instruments at Fair Value, Net [Abstract] | ||
Derivative Instruments, Gain (Loss) Recognized in Other Comprehensive Income (Loss), Effective Portion, Net | 6 | 8 |
Cash Flow Hedging | Foreign Currency Exchange Derivatives | Cost of Sales | ||
Cash Flow Hedges Derivative Instruments at Fair Value, Net [Abstract] | ||
Amount of Gain (Loss) Reclassified from AOCI into Income | 2 | 8 |
Cash Flow Hedging | Commodity Derivatives | ||
Cash Flow Hedges Derivative Instruments at Fair Value, Net [Abstract] | ||
Derivative Instruments, Gain (Loss) Recognized in Other Comprehensive Income (Loss), Effective Portion, Net | 3 | 2 |
Cash Flow Hedging | Commodity Derivatives | Cost of Sales | ||
Cash Flow Hedges Derivative Instruments at Fair Value, Net [Abstract] | ||
Amount of Gain (Loss) Reclassified from AOCI into Income | 5 | 1 |
Fair Value Hedging | ||
Fair Value Hedge [Abstract] | ||
Gain (Loss) Recognized in Income, Fair Value Hedge | 0 | 1 |
Fair Value Hedging | Interest Rate Swaps | Net Financing Charges | ||
Fair Value Hedge [Abstract] | ||
Gain (Loss) Recognized in Income, Fair Value Hedge | 0 | (1) |
Fair Value Hedging | Fixed Rate Debt Swapped to Floating | Net Financing Charges | ||
Fair Value Hedge [Abstract] | ||
Gain (Loss) Recognized in Income, Fair Value Hedge | $ 0 | $ 2 |
Derivative Instruments and He80
Derivative Instruments and Hedging Activities - Additional Information (Detail) € in Millions, ¥ in Billions | 3 Months Ended | |||||
Dec. 31, 2017USD ($) | Dec. 31, 2016USD ($) | Dec. 31, 2017EUR (€) | Dec. 31, 2017JPY (¥) | Sep. 30, 2017EUR (€) | Sep. 30, 2017JPY (¥) | |
Derivative [Line Items] | ||||||
Gains (losses) reclassified from CTA to income for the Company's outstanding net investment hedges | $ | $ 0 | $ 0 | ||||
Foreign Currency Denominated Debt [Member] | ||||||
Derivative [Line Items] | ||||||
Notional amount | ¥ | ¥ 35 | ¥ 35 | ||||
58 million euro net investment hedge [Member] | Foreign Currency Denominated Debt [Member] | ||||||
Derivative [Line Items] | ||||||
Notional amount | € 58 | € 58 | ||||
One billion euro net investment hedge [Member] | Foreign Currency Denominated Debt [Member] | ||||||
Derivative [Line Items] | ||||||
Notional amount | 1,000 | 1,000 | ||||
750 million euro net investment hedge [Member] | Foreign Currency Denominated Debt [Member] | ||||||
Derivative [Line Items] | ||||||
Notional amount | 750 | |||||
423 million euro net investment hedge [Member] | Foreign Currency Denominated Debt [Member] | ||||||
Derivative [Line Items] | ||||||
Notional amount | € 423 | € 423 | ||||
Net Investment Hedging [Member] | ||||||
Derivative [Line Items] | ||||||
Derivative Instruments, Gain (Loss) Recognized in Other Comprehensive Income (Loss), Effective Portion, Net | $ | $ (36,000,000) | $ 47,000,000 |
Fair Value Measurements - Asset
Fair Value Measurements - Assets and Liabilities Measured at Fair Value (Detail) - USD ($) $ in Millions | Dec. 31, 2017 | Sep. 30, 2017 | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Derivative assets | $ 130 | $ 91 | |
Derivative liabilities | 3,023 | 2,105 | |
Fair Value, Measurements, Recurring [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Total assets | 515 | 462 | |
Total liabilities | 42 | 47 | |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Total assets | 385 | 371 | |
Total liabilities | 0 | 0 | |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Total assets | 130 | 91 | |
Total liabilities | 42 | 47 | |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Total assets | 0 | 0 | |
Total liabilities | 0 | 0 | |
Other Current Assets | Fair Value, Measurements, Recurring [Member] | Exchange Traded Funds in Fixed Income securities [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Investments, Fair Value Disclosure | [1] | 28 | 14 |
Other Current Assets | Fair Value, Measurements, Recurring [Member] | Exchange Traded Funds in Fixed Income securities [Member] | Fair Value, Inputs, Level 1 [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Investments, Fair Value Disclosure | [1] | 28 | 14 |
Other Current Assets | Fair Value, Measurements, Recurring [Member] | Exchange Traded Funds in Fixed Income securities [Member] | Fair Value, Inputs, Level 2 [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Investments, Fair Value Disclosure | [1] | 0 | 0 |
Other Current Assets | Fair Value, Measurements, Recurring [Member] | Exchange Traded Funds in Fixed Income securities [Member] | Fair Value, Inputs, Level 3 [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Investments, Fair Value Disclosure | [1] | 0 | 0 |
Other Current Assets | Fair Value, Measurements, Recurring [Member] | Foreign Currency Exchange Derivatives | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Derivative assets | 56 | 27 | |
Other Current Assets | Fair Value, Measurements, Recurring [Member] | Foreign Currency Exchange Derivatives | Fair Value, Inputs, Level 1 [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Derivative assets | 0 | 0 | |
Other Current Assets | Fair Value, Measurements, Recurring [Member] | Foreign Currency Exchange Derivatives | Fair Value, Inputs, Level 2 [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Derivative assets | 56 | 27 | |
Other Current Assets | Fair Value, Measurements, Recurring [Member] | Foreign Currency Exchange Derivatives | Fair Value, Inputs, Level 3 [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Derivative assets | 0 | 0 | |
Other Current Assets | Fair Value, Measurements, Recurring [Member] | Commodity Derivatives | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Derivative assets | 6 | 9 | |
Other Current Assets | Fair Value, Measurements, Recurring [Member] | Commodity Derivatives | Fair Value, Inputs, Level 1 [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Derivative assets | 0 | 0 | |
Other Current Assets | Fair Value, Measurements, Recurring [Member] | Commodity Derivatives | Fair Value, Inputs, Level 2 [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Derivative assets | 6 | 9 | |
Other Current Assets | Fair Value, Measurements, Recurring [Member] | Commodity Derivatives | Fair Value, Inputs, Level 3 [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Derivative assets | 0 | 0 | |
Other Noncurrent Assets | Fair Value, Measurements, Recurring [Member] | Available-for-sale Securities [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Investments, Fair Value Disclosure | 6 | 10 | |
Other Noncurrent Assets | Fair Value, Measurements, Recurring [Member] | Available-for-sale Securities [Member] | Fair Value, Inputs, Level 1 [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Investments, Fair Value Disclosure | 6 | 10 | |
Other Noncurrent Assets | Fair Value, Measurements, Recurring [Member] | Available-for-sale Securities [Member] | Fair Value, Inputs, Level 2 [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Investments, Fair Value Disclosure | 0 | 0 | |
Other Noncurrent Assets | Fair Value, Measurements, Recurring [Member] | Available-for-sale Securities [Member] | Fair Value, Inputs, Level 3 [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Investments, Fair Value Disclosure | 0 | 0 | |
Other Noncurrent Assets | Fair Value, Measurements, Recurring [Member] | Deferred compensation plan assets [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Investments, Fair Value Disclosure | 96 | 92 | |
Other Noncurrent Assets | Fair Value, Measurements, Recurring [Member] | Deferred compensation plan assets [Member] | Fair Value, Inputs, Level 1 [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Investments, Fair Value Disclosure | 96 | 92 | |
Other Noncurrent Assets | Fair Value, Measurements, Recurring [Member] | Deferred compensation plan assets [Member] | Fair Value, Inputs, Level 2 [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Investments, Fair Value Disclosure | 0 | 0 | |
Other Noncurrent Assets | Fair Value, Measurements, Recurring [Member] | Deferred compensation plan assets [Member] | Fair Value, Inputs, Level 3 [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Investments, Fair Value Disclosure | 0 | 0 | |
Other Noncurrent Assets | Fair Value, Measurements, Recurring [Member] | Exchange Traded Funds in Fixed Income securities [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Investments, Fair Value Disclosure | [1] | 142 | 155 |
Other Noncurrent Assets | Fair Value, Measurements, Recurring [Member] | Exchange Traded Funds in Fixed Income securities [Member] | Fair Value, Inputs, Level 1 [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Investments, Fair Value Disclosure | [1] | 142 | 155 |
Other Noncurrent Assets | Fair Value, Measurements, Recurring [Member] | Exchange Traded Funds in Fixed Income securities [Member] | Fair Value, Inputs, Level 2 [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Investments, Fair Value Disclosure | [1] | 0 | 0 |
Other Noncurrent Assets | Fair Value, Measurements, Recurring [Member] | Exchange Traded Funds in Fixed Income securities [Member] | Fair Value, Inputs, Level 3 [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Investments, Fair Value Disclosure | [1] | 0 | 0 |
Other Noncurrent Assets | Fair Value, Measurements, Recurring [Member] | Exchange traded funds in equity securities [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Investments, Fair Value Disclosure | [1] | 113 | 100 |
Other Noncurrent Assets | Fair Value, Measurements, Recurring [Member] | Exchange traded funds in equity securities [Member] | Fair Value, Inputs, Level 1 [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Investments, Fair Value Disclosure | [1] | 113 | 100 |
Other Noncurrent Assets | Fair Value, Measurements, Recurring [Member] | Exchange traded funds in equity securities [Member] | Fair Value, Inputs, Level 2 [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Investments, Fair Value Disclosure | [1] | 0 | 0 |
Other Noncurrent Assets | Fair Value, Measurements, Recurring [Member] | Exchange traded funds in equity securities [Member] | Fair Value, Inputs, Level 3 [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Investments, Fair Value Disclosure | [1] | 0 | 0 |
Other Noncurrent Assets | Fair Value, Measurements, Recurring [Member] | Equity swap | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Investments, Fair Value Disclosure | 68 | 55 | |
Other Noncurrent Assets | Fair Value, Measurements, Recurring [Member] | Equity swap | Fair Value, Inputs, Level 1 [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Investments, Fair Value Disclosure | 0 | 0 | |
Other Noncurrent Assets | Fair Value, Measurements, Recurring [Member] | Equity swap | Fair Value, Inputs, Level 2 [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Investments, Fair Value Disclosure | 68 | 55 | |
Other Noncurrent Assets | Fair Value, Measurements, Recurring [Member] | Equity swap | Fair Value, Inputs, Level 3 [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Investments, Fair Value Disclosure | 0 | 0 | |
Other Current Liabilities | Commodity Derivatives | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Liabilities, Fair Value Disclosure, Recurring | 1 | ||
Other Current Liabilities | Commodity Derivatives | Fair Value, Inputs, Level 1 [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Liabilities, Fair Value Disclosure, Recurring | 0 | ||
Other Current Liabilities | Commodity Derivatives | Fair Value, Inputs, Level 2 [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Liabilities, Fair Value Disclosure, Recurring | 1 | ||
Other Current Liabilities | Commodity Derivatives | Fair Value, Inputs, Level 3 [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Liabilities, Fair Value Disclosure, Recurring | 0 | ||
Other Current Liabilities | Fair Value, Measurements, Recurring [Member] | Foreign Currency Exchange Derivatives | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Derivative liabilities | 41 | 46 | |
Other Current Liabilities | Fair Value, Measurements, Recurring [Member] | Foreign Currency Exchange Derivatives | Fair Value, Inputs, Level 1 [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Derivative liabilities | 0 | 0 | |
Other Current Liabilities | Fair Value, Measurements, Recurring [Member] | Foreign Currency Exchange Derivatives | Fair Value, Inputs, Level 2 [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Derivative liabilities | 41 | 46 | |
Other Current Liabilities | Fair Value, Measurements, Recurring [Member] | Foreign Currency Exchange Derivatives | Fair Value, Inputs, Level 3 [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Derivative liabilities | 0 | $ 0 | |
Other Current Liabilities | Fair Value, Measurements, Recurring [Member] | Commodity Derivatives | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Derivative liabilities | 1 | ||
Other Current Liabilities | Fair Value, Measurements, Recurring [Member] | Commodity Derivatives | Fair Value, Inputs, Level 1 [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Derivative liabilities | 0 | ||
Other Current Liabilities | Fair Value, Measurements, Recurring [Member] | Commodity Derivatives | Fair Value, Inputs, Level 2 [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Derivative liabilities | 1 | ||
Other Current Liabilities | Fair Value, Measurements, Recurring [Member] | Commodity Derivatives | Fair Value, Inputs, Level 3 [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Derivative liabilities | $ 0 | ||
[1] | 1 Classified as restricted investments for payment of asbestos liabilities. See Note 21, "Commitments and Contingencies," of the notes to consolidated financial statements for further details. |
Fair Value Measurements - Addit
Fair Value Measurements - Additional Information (Detail) $ in Millions, € in Billions, ¥ in Billions | 3 Months Ended | 12 Months Ended | ||||||
Dec. 31, 2017USD ($) | Sep. 30, 2017USD ($) | Dec. 31, 2017EUR (€) | Dec. 31, 2017USD ($) | Dec. 31, 2017JPY (¥) | Sep. 30, 2017EUR (€) | Sep. 30, 2017USD ($) | Sep. 30, 2017JPY (¥) | |
Derivative [Line Items] | ||||||||
Unrealized gains on marketable common stock | $ 14 | $ 10 | ||||||
Unrealized losses on marketable common stock | $ 10 | $ 6 | ||||||
Fair value of long term debt | $ 11,500 | $ 12,700 | ||||||
Fair Value, Inputs, Level 1 [Member] | ||||||||
Derivative [Line Items] | ||||||||
Fair value of long term debt | 9,300 | 8,600 | ||||||
Fair Value, Inputs, Level 2 [Member] | ||||||||
Derivative [Line Items] | ||||||||
Fair value of long term debt | $ 2,200 | $ 4,100 | ||||||
Foreign Currency Denominated Debt [Member] | ||||||||
Derivative [Line Items] | ||||||||
Notional amount | ¥ | ¥ 35 | ¥ 35 | ||||||
Foreign Currency Denominated Debt [Member] | One billion euro net investment hedge [Member] | ||||||||
Derivative [Line Items] | ||||||||
Notional amount | € | € 1 | € 1 |
Impairment of Long-Lived Asse83
Impairment of Long-Lived Assets (Details) - USD ($) $ in Millions | 3 Months Ended | |
Dec. 31, 2017 | Dec. 31, 2016 | |
Impairment of Long Lived Assets [Line Items] | ||
Asset Impairment Charges | $ 30 | $ 16 |
2018 Restructuring Plan | ||
Impairment of Long Lived Assets [Line Items] | ||
Asset Impairment Charges | 30 | |
2018 Restructuring Plan | Global Products | ||
Impairment of Long Lived Assets [Line Items] | ||
Asset Impairment Charges | 23 | |
2018 Restructuring Plan | Corporate Segment | ||
Impairment of Long Lived Assets [Line Items] | ||
Asset Impairment Charges | 5 | |
2018 Restructuring Plan | Power Solutions | ||
Impairment of Long Lived Assets [Line Items] | ||
Asset Impairment Charges | $ 2 | |
2017 Restructuring Plan | Corporate Segment | ||
Impairment of Long Lived Assets [Line Items] | ||
Asset Impairment Charges | $ 15 |
Segment Information - Additiona
Segment Information - Additional Information (Detail) | 3 Months Ended | 9 Months Ended | |
Dec. 31, 2017SegmentBusiness | Sep. 30, 2017Segment | Jun. 30, 2017Segment | |
Segment Reporting Information [Line Items] | |||
Number of primary businesses | Business | 2 | ||
Number of reportable segments | 5 | ||
Building Technologies & Solutions | |||
Segment Reporting Information [Line Items] | |||
Number of reportable segments | 4 | 5 |
Segment Information - Financial
Segment Information - Financial Information Related to Company's Reportable Segments (Detail) - USD ($) $ in Millions | 3 Months Ended | |
Dec. 31, 2017 | Dec. 31, 2016 | |
Segment Reporting Information [Line Items] | ||
Net sales | $ 7,435 | $ 7,086 |
Segment EBITA | 1,040 | 824 |
Corporate expenses | (134) | (193) |
Amortization of intangible assets | (94) | (149) |
Restructuring and impairment costs | (158) | (78) |
Net mark-to-market adjustments on pension plans | 0 | 117 |
Net financing charges | (116) | (136) |
Income from continuing operations before income taxes | 538 | 385 |
Power Solutions | ||
Segment Reporting Information [Line Items] | ||
Net sales | 2,130 | 1,900 |
Segment EBITA | 384 | 389 |
Building Technologies & Solutions | ||
Segment Reporting Information [Line Items] | ||
Net sales | 5,305 | 5,186 |
Segment EBITA | 656 | 435 |
Building Technologies & Solutions | Building Solutions North America | ||
Segment Reporting Information [Line Items] | ||
Net sales | 2,012 | 1,942 |
Segment EBITA | 227 | 196 |
Building Technologies & Solutions | Building Solutions EMEA/LA | ||
Segment Reporting Information [Line Items] | ||
Net sales | 915 | 875 |
Segment EBITA | 69 | 49 |
Building Technologies & Solutions | Building Solutions Asia Pacific | ||
Segment Reporting Information [Line Items] | ||
Net sales | 597 | 575 |
Segment EBITA | 74 | 63 |
Building Technologies & Solutions | Global Products | ||
Segment Reporting Information [Line Items] | ||
Net sales | 1,781 | 1,794 |
Segment EBITA | $ 286 | $ 127 |
Guarantees - Additional Informa
Guarantees - Additional Information (Detail) - USD ($) $ in Millions | 3 Months Ended | |
Dec. 31, 2017 | Sep. 30, 2017 | |
Guarantor Obligations [Line Items] | ||
Post sale contingent tax indemnification liabilities | $ 272 | $ 290 |
Maximum length, in years, of a product warranty for it to be recorded in other current liabilities | 1 year | |
Minimum length, in years, of a product warranty for it to be recorded in other noncurrent liabilities | 1 year | |
Tax indemnification liabilities related to other divestitures | $ 9 | 11 |
Business Divestitures, Not Specific [Member] | ||
Guarantor Obligations [Line Items] | ||
Post sale contingent tax indemnification liabilities | $ 237 |
Product Warranties - Changes in
Product Warranties - Changes in Carrying Amount of Product Warranty liability (Detail) - USD ($) $ in Millions | 3 Months Ended | |
Dec. 31, 2017 | Dec. 31, 2016 | |
Movement in Standard Product Warranty Accrual [Roll Forward] | ||
Balance at beginning of period | $ 409 | $ 374 |
Accruals for warranties issued during the period | 84 | 82 |
Accruals from acquisition and divestitures | 0 | (1) |
Accruals related to pre-existing warranties | (3) | (6) |
Settlements made (in cash or in kind) during the period | (77) | (73) |
Currency translation | 2 | (6) |
Balance at end of period | $ 415 | $ 370 |
TIFSA Condensed Income Statemen
TIFSA Condensed Income Statement (Details) - USD ($) $ in Millions | 3 Months Ended | |
Dec. 31, 2017 | Dec. 31, 2016 | |
Condensed Income Statements, Captions [Line Items] | ||
Net sales | $ 7,435 | $ 7,086 |
Cost of sales | 5,266 | 4,972 |
Gross profit | 2,169 | 2,114 |
Selling, general and administrative expenses | (1,417) | (1,570) |
Restructuring and impairment costs | (158) | (78) |
Net Financing Charges | (116) | (136) |
Equity income (loss) | 60 | 55 |
Intercompany interest and fees | 0 | 0 |
Income (loss) from continuing operations before income taxes | 538 | 385 |
Income tax provision (benefit) | 267 | (27) |
Income (loss) from continuing operations | 271 | 412 |
Income (loss) from sale of intercompany investment, net of tax | 0 | |
Loss from discontinued operations, net of tax | 0 | (34) |
Net income (loss) | 271 | 378 |
Income from continuing operations attributable to noncontrolling interests | 41 | 40 |
Income from discontinued operations attributable to noncontrolling interests | 0 | 9 |
Net income attributable to Johnson Controls | 230 | 329 |
Consolidation, Eliminations [Member] | ||
Condensed Income Statements, Captions [Line Items] | ||
Net sales | 0 | 0 |
Cost of sales | 0 | 0 |
Gross profit | 0 | 0 |
Selling, general and administrative expenses | 0 | 0 |
Restructuring and impairment costs | 0 | 0 |
Net Financing Charges | 0 | 0 |
Equity income (loss) | (615) | 78 |
Intercompany interest and fees | 0 | 0 |
Income (loss) from continuing operations before income taxes | (615) | 78 |
Income tax provision (benefit) | 0 | 0 |
Income (loss) from continuing operations | 78 | |
Income (loss) from sale of intercompany investment, net of tax | 935 | |
Loss from discontinued operations, net of tax | 0 | |
Net income (loss) | (615) | 1,013 |
Income from continuing operations attributable to noncontrolling interests | 0 | 0 |
Income from discontinued operations attributable to noncontrolling interests | 0 | |
Net income attributable to Johnson Controls | (615) | 1,013 |
Parent Company [Member] | ||
Condensed Income Statements, Captions [Line Items] | ||
Net sales | 0 | 0 |
Cost of sales | 0 | 0 |
Gross profit | 0 | 0 |
Selling, general and administrative expenses | (3) | (2) |
Restructuring and impairment costs | 0 | 0 |
Net Financing Charges | (50) | (19) |
Equity income (loss) | 285 | 318 |
Intercompany interest and fees | (2) | 32 |
Income (loss) from continuing operations before income taxes | 230 | 329 |
Income tax provision (benefit) | 0 | 0 |
Income (loss) from continuing operations | 329 | |
Income (loss) from sale of intercompany investment, net of tax | 0 | |
Loss from discontinued operations, net of tax | 0 | |
Net income (loss) | 230 | 329 |
Income from continuing operations attributable to noncontrolling interests | 0 | 0 |
Income from discontinued operations attributable to noncontrolling interests | 0 | |
Net income attributable to Johnson Controls | 230 | 329 |
Guarantor Subsidiaries [Member] | ||
Condensed Income Statements, Captions [Line Items] | ||
Net sales | 0 | 0 |
Cost of sales | 0 | 0 |
Gross profit | 0 | 0 |
Selling, general and administrative expenses | 0 | 0 |
Restructuring and impairment costs | 0 | 0 |
Net Financing Charges | 1 | 0 |
Equity income (loss) | 188 | (286) |
Intercompany interest and fees | 85 | 0 |
Income (loss) from continuing operations before income taxes | 274 | (286) |
Income tax provision (benefit) | 0 | 0 |
Income (loss) from continuing operations | (286) | |
Income (loss) from sale of intercompany investment, net of tax | 0 | |
Loss from discontinued operations, net of tax | 0 | |
Net income (loss) | 274 | (286) |
Income from continuing operations attributable to noncontrolling interests | 0 | 0 |
Income from discontinued operations attributable to noncontrolling interests | 0 | |
Net income attributable to Johnson Controls | 274 | (286) |
Subsidiary Issuer [Member] | ||
Condensed Income Statements, Captions [Line Items] | ||
Net sales | 0 | 0 |
Cost of sales | 0 | 0 |
Gross profit | 0 | 0 |
Selling, general and administrative expenses | 0 | 1 |
Restructuring and impairment costs | 0 | 0 |
Net Financing Charges | (2) | (19) |
Equity income (loss) | 142 | (110) |
Intercompany interest and fees | (29) | 17 |
Income (loss) from continuing operations before income taxes | 111 | (111) |
Income tax provision (benefit) | 0 | 0 |
Income (loss) from continuing operations | (111) | |
Income (loss) from sale of intercompany investment, net of tax | (935) | |
Loss from discontinued operations, net of tax | 0 | |
Net income (loss) | 111 | (1,046) |
Income from continuing operations attributable to noncontrolling interests | 0 | 0 |
Income from discontinued operations attributable to noncontrolling interests | 0 | |
Net income attributable to Johnson Controls | 111 | (1,046) |
Non-Guarantor Subsidiaries [Member] | ||
Condensed Income Statements, Captions [Line Items] | ||
Net sales | 7,435 | 7,086 |
Cost of sales | 5,266 | 4,972 |
Gross profit | 2,169 | 2,114 |
Selling, general and administrative expenses | (1,414) | (1,569) |
Restructuring and impairment costs | (158) | (78) |
Net Financing Charges | (65) | (98) |
Equity income (loss) | 60 | 55 |
Intercompany interest and fees | (54) | (49) |
Income (loss) from continuing operations before income taxes | 538 | 375 |
Income tax provision (benefit) | 267 | (27) |
Income (loss) from continuing operations | 402 | |
Income (loss) from sale of intercompany investment, net of tax | 0 | |
Loss from discontinued operations, net of tax | (34) | |
Net income (loss) | 271 | 368 |
Income from continuing operations attributable to noncontrolling interests | 41 | 40 |
Income from discontinued operations attributable to noncontrolling interests | 9 | |
Net income attributable to Johnson Controls | $ 230 | $ 319 |
TIFSA Condensed Statement of Co
TIFSA Condensed Statement of Comprehensive Income (Details) - USD ($) $ in Millions | 3 Months Ended | |
Dec. 31, 2017 | Dec. 31, 2016 | |
Condensed Statement of Income Captions [Line Items] | ||
Net income (loss) | $ 271 | $ 378 |
Foreign currency translation adjustments | 79 | (703) |
Realized and unrealized gains (losses) on derivatives | (1) | 4 |
Realized and unrealized gains (losses) on marketable securities | 0 | (2) |
Other comprehensive income (loss) | 78 | (701) |
Total comprehensive income (loss) | 349 | (323) |
Comprehensive income attributable to noncontrolling interests | 60 | 9 |
Comprehensive income (loss) attributable to Johnson Controls | 289 | (332) |
Consolidation, Eliminations [Member] | ||
Condensed Statement of Income Captions [Line Items] | ||
Net income (loss) | (615) | 1,013 |
Foreign currency translation adjustments | (24) | 659 |
Realized and unrealized gains (losses) on derivatives | (1) | 0 |
Realized and unrealized gains (losses) on marketable securities | 0 | 2 |
Other comprehensive income (loss) | (25) | 661 |
Total comprehensive income (loss) | (640) | 1,674 |
Comprehensive income attributable to noncontrolling interests | 0 | 0 |
Comprehensive income (loss) attributable to Johnson Controls | (640) | 1,674 |
Parent Company [Member] | ||
Condensed Statement of Income Captions [Line Items] | ||
Net income (loss) | 230 | 329 |
Foreign currency translation adjustments | (659) | |
Realized and unrealized gains (losses) on derivatives | 1 | 0 |
Realized and unrealized gains (losses) on marketable securities | 0 | (2) |
Other comprehensive income (loss) | 59 | (661) |
Total comprehensive income (loss) | 289 | (332) |
Comprehensive income attributable to noncontrolling interests | 0 | 0 |
Comprehensive income (loss) attributable to Johnson Controls | 289 | (332) |
Guarantor Subsidiaries [Member] | ||
Condensed Statement of Income Captions [Line Items] | ||
Net income (loss) | 274 | (286) |
Foreign currency translation adjustments | (7) | 0 |
Realized and unrealized gains (losses) on derivatives | 0 | 0 |
Realized and unrealized gains (losses) on marketable securities | 0 | 0 |
Other comprehensive income (loss) | (7) | 0 |
Total comprehensive income (loss) | 267 | (286) |
Comprehensive income attributable to noncontrolling interests | 0 | 0 |
Comprehensive income (loss) attributable to Johnson Controls | 267 | (286) |
Subsidiary Issuer [Member] | ||
Condensed Statement of Income Captions [Line Items] | ||
Net income (loss) | 111 | (1,046) |
Foreign currency translation adjustments | (1) | 27 |
Realized and unrealized gains (losses) on derivatives | 0 | 0 |
Realized and unrealized gains (losses) on marketable securities | (4) | 0 |
Other comprehensive income (loss) | (5) | 27 |
Total comprehensive income (loss) | 106 | (1,019) |
Comprehensive income attributable to noncontrolling interests | 0 | 0 |
Comprehensive income (loss) attributable to Johnson Controls | 106 | (1,019) |
Non-Guarantor Subsidiaries [Member] | ||
Condensed Statement of Income Captions [Line Items] | ||
Net income (loss) | 271 | 368 |
Foreign currency translation adjustments | 53 | (730) |
Realized and unrealized gains (losses) on derivatives | (1) | 4 |
Realized and unrealized gains (losses) on marketable securities | 4 | (2) |
Other comprehensive income (loss) | 56 | (728) |
Total comprehensive income (loss) | 327 | (360) |
Comprehensive income attributable to noncontrolling interests | 60 | 9 |
Comprehensive income (loss) attributable to Johnson Controls | 267 | (369) |
Parent | ||
Condensed Statement of Income Captions [Line Items] | ||
Foreign currency translation adjustments | 58 | (659) |
Realized and unrealized gains (losses) on derivatives | 1 | 0 |
Realized and unrealized gains (losses) on marketable securities | 0 | (2) |
Comprehensive income (loss) attributable to Johnson Controls | 289 | $ (332) |
Parent | Parent Company [Member] | ||
Condensed Statement of Income Captions [Line Items] | ||
Foreign currency translation adjustments | $ 58 |
TIFSA Condensed Balance Sheet (
TIFSA Condensed Balance Sheet (Details) - USD ($) $ in Millions | Dec. 31, 2017 | Sep. 30, 2017 | Dec. 31, 2016 | Sep. 30, 2016 |
Condensed Balance Sheet Statements, Captions [Line Items] | ||||
Cash and cash equivalents | $ 552 | $ 321 | $ 377 | $ 579 |
Accounts receivable - net | 6,731 | 6,666 | ||
Inventories | 3,459 | 3,209 | ||
Intercompany receivables | 0 | 0 | ||
Assets held for sale | 40 | 189 | ||
Other current assets | 1,647 | 1,907 | ||
Current assets | 12,429 | 12,292 | ||
Property, plant and equipment - net | 6,105 | 6,121 | ||
Goodwill | 19,717 | 19,688 | ||
Other intangible assets - net | 6,657 | 6,741 | ||
Investments in partially-owned affiliates | 1,219 | 1,191 | ||
Investments in affiliates | 0 | 0 | ||
Intercompany loans receivable | 0 | 0 | ||
Noncurrent assets held for sale | 0 | 1,920 | ||
Other noncurrent assets | 3,640 | 3,931 | ||
Total assets | 49,767 | 51,884 | ||
Short-term debt | 1,514 | 1,214 | ||
Current portion of long-term debt | 91 | 394 | ||
Accounts payable | 4,020 | 4,271 | ||
Accrued compensation and benefits | 883 | 1,071 | ||
Deferred revenue | 1,368 | 1,279 | ||
Liabilities held for sale | 0 | 72 | ||
Intercompany payables | 0 | 0 | ||
Other current liabilities | 3,370 | 3,553 | ||
Current liabilities | 11,246 | 11,854 | ||
Long-term debt | 10,895 | 11,964 | ||
Pension and postretirement benefits | 896 | 947 | ||
Intercompany loans payable | 0 | 0 | ||
Noncurrent liabilities held for sale | 0 | 173 | ||
Other noncurrent liabilities | 5,004 | 5,368 | ||
Long-term liabilities | 16,795 | 18,452 | ||
Redeemable noncontrolling interests | 226 | 211 | ||
Ordinary shares | 9 | 9 | ||
Ordinary shares held in treasury | (885) | (710) | ||
Other shareholders' equity | 21,411 | 21,148 | ||
Shareholders' equity attributable to Johnson Controls | 20,535 | 20,447 | ||
Nonredeemable noncontrolling interest | 965 | 920 | ||
Total equity | 21,500 | 21,367 | ||
Total liabilities and equity | 49,767 | 51,884 | ||
Consolidation, Eliminations [Member] | ||||
Condensed Balance Sheet Statements, Captions [Line Items] | ||||
Cash and cash equivalents | (913) | (886) | (253) | 0 |
Accounts receivable - net | 0 | 0 | ||
Inventories | 0 | 0 | ||
Intercompany receivables | (25,501) | (7,837) | ||
Assets held for sale | 0 | 0 | ||
Other current assets | 0 | 0 | ||
Current assets | (26,414) | (8,723) | ||
Property, plant and equipment - net | 0 | 0 | ||
Goodwill | 0 | 0 | ||
Other intangible assets - net | 0 | 0 | ||
Investments in partially-owned affiliates | 0 | 0 | ||
Investments in affiliates | (92,450) | (72,213) | ||
Intercompany loans receivable | (15,980) | (33,888) | ||
Noncurrent assets held for sale | 0 | |||
Other noncurrent assets | 0 | 0 | ||
Total assets | (134,844) | (114,824) | ||
Short-term debt | (913) | (886) | ||
Current portion of long-term debt | 0 | 0 | ||
Accounts payable | 0 | 0 | ||
Accrued compensation and benefits | 0 | 0 | ||
Deferred revenue | 0 | 0 | ||
Liabilities held for sale | 0 | |||
Intercompany payables | (25,501) | (7,837) | ||
Other current liabilities | 0 | 0 | ||
Current liabilities | (26,414) | (8,723) | ||
Long-term debt | 0 | 0 | ||
Pension and postretirement benefits | 0 | 0 | ||
Intercompany loans payable | (15,980) | (33,888) | ||
Noncurrent liabilities held for sale | 0 | |||
Other noncurrent liabilities | 0 | 0 | ||
Long-term liabilities | (15,980) | (33,888) | ||
Redeemable noncontrolling interests | 0 | 0 | ||
Ordinary shares | 0 | 0 | ||
Ordinary shares held in treasury | 0 | 0 | ||
Other shareholders' equity | (92,450) | (72,213) | ||
Shareholders' equity attributable to Johnson Controls | (92,450) | (72,213) | ||
Nonredeemable noncontrolling interest | 0 | 0 | ||
Total equity | (92,450) | (72,213) | ||
Total liabilities and equity | (134,844) | (114,824) | ||
Parent Company [Member] | ||||
Condensed Balance Sheet Statements, Captions [Line Items] | ||||
Cash and cash equivalents | 285 | 0 | 350 | 11 |
Accounts receivable - net | 0 | 0 | ||
Inventories | 0 | 0 | ||
Intercompany receivables | 323 | 1,580 | ||
Assets held for sale | 0 | 0 | ||
Other current assets | 46 | 14 | ||
Current assets | 654 | 1,594 | ||
Property, plant and equipment - net | 0 | 0 | ||
Goodwill | 243 | 243 | ||
Other intangible assets - net | 0 | 0 | ||
Investments in partially-owned affiliates | 0 | 0 | ||
Investments in affiliates | 38,975 | 19,487 | ||
Intercompany loans receivable | 0 | 17,908 | ||
Noncurrent assets held for sale | 0 | |||
Other noncurrent assets | 68 | 56 | ||
Total assets | 39,940 | 39,288 | ||
Short-term debt | 1,820 | 1,476 | ||
Current portion of long-term debt | 49 | 307 | ||
Accounts payable | 1 | 0 | ||
Accrued compensation and benefits | 1 | 4 | ||
Deferred revenue | 0 | 0 | ||
Liabilities held for sale | 0 | |||
Intercompany payables | 3,753 | 4,236 | ||
Other current liabilities | 376 | 324 | ||
Current liabilities | 6,000 | 6,347 | ||
Long-term debt | 8,717 | 7,806 | ||
Pension and postretirement benefits | 0 | 0 | ||
Intercompany loans payable | 4,688 | 4,688 | ||
Noncurrent liabilities held for sale | 0 | |||
Other noncurrent liabilities | 0 | 0 | ||
Long-term liabilities | 13,405 | 12,494 | ||
Redeemable noncontrolling interests | 0 | 0 | ||
Ordinary shares | 9 | 9 | ||
Ordinary shares held in treasury | (885) | (710) | ||
Other shareholders' equity | 21,411 | 21,148 | ||
Shareholders' equity attributable to Johnson Controls | 20,535 | 20,447 | ||
Nonredeemable noncontrolling interest | 0 | 0 | ||
Total equity | 20,535 | 20,447 | ||
Total liabilities and equity | 39,940 | 39,288 | ||
Guarantor Subsidiaries [Member] | ||||
Condensed Balance Sheet Statements, Captions [Line Items] | ||||
Cash and cash equivalents | 108 | 107 | 0 | 0 |
Accounts receivable - net | 0 | 0 | ||
Inventories | 0 | 0 | ||
Intercompany receivables | 1,824 | 1,732 | ||
Assets held for sale | 0 | 0 | ||
Other current assets | 0 | 0 | ||
Current assets | 1,932 | 1,839 | ||
Property, plant and equipment - net | 0 | 0 | ||
Goodwill | 0 | 0 | ||
Other intangible assets - net | 0 | 0 | ||
Investments in partially-owned affiliates | 0 | 0 | ||
Investments in affiliates | 32,053 | 31,594 | ||
Intercompany loans receivable | 4,140 | 4,140 | ||
Noncurrent assets held for sale | 0 | |||
Other noncurrent assets | 0 | 0 | ||
Total assets | 38,125 | 37,573 | ||
Short-term debt | 0 | 0 | ||
Current portion of long-term debt | 0 | 0 | ||
Accounts payable | 0 | 0 | ||
Accrued compensation and benefits | 0 | 0 | ||
Deferred revenue | 0 | 0 | ||
Liabilities held for sale | 0 | |||
Intercompany payables | 18,978 | 1,055 | ||
Other current liabilities | 1 | 2 | ||
Current liabilities | 18,979 | 1,057 | ||
Long-term debt | 0 | 0 | ||
Pension and postretirement benefits | 0 | 0 | ||
Intercompany loans payable | 0 | 17,908 | ||
Noncurrent liabilities held for sale | 0 | |||
Other noncurrent liabilities | 0 | 0 | ||
Long-term liabilities | 0 | 17,908 | ||
Redeemable noncontrolling interests | 0 | 0 | ||
Ordinary shares | 0 | 0 | ||
Ordinary shares held in treasury | 0 | 0 | ||
Other shareholders' equity | 19,146 | 18,608 | ||
Shareholders' equity attributable to Johnson Controls | 19,146 | 18,608 | ||
Nonredeemable noncontrolling interest | 0 | 0 | ||
Total equity | 19,146 | 18,608 | ||
Total liabilities and equity | 38,125 | 37,573 | ||
Subsidiary Issuer [Member] | ||||
Condensed Balance Sheet Statements, Captions [Line Items] | ||||
Cash and cash equivalents | 81 | 382 | 280 | 244 |
Accounts receivable - net | 0 | 0 | ||
Inventories | 0 | 0 | ||
Intercompany receivables | 397 | 55 | ||
Assets held for sale | 0 | 0 | ||
Other current assets | 1 | 1 | ||
Current assets | 479 | 438 | ||
Property, plant and equipment - net | 0 | 0 | ||
Goodwill | 32 | 32 | ||
Other intangible assets - net | 0 | 0 | ||
Investments in partially-owned affiliates | 0 | 0 | ||
Investments in affiliates | 21,422 | 21,132 | ||
Intercompany loans receivable | 2,836 | 2,836 | ||
Noncurrent assets held for sale | 0 | |||
Other noncurrent assets | 2 | 7 | ||
Total assets | 24,771 | 24,445 | ||
Short-term debt | 0 | 0 | ||
Current portion of long-term debt | 18 | 18 | ||
Accounts payable | 0 | 0 | ||
Accrued compensation and benefits | 0 | 0 | ||
Deferred revenue | 0 | 0 | ||
Liabilities held for sale | 0 | |||
Intercompany payables | 1,958 | 1,886 | ||
Other current liabilities | 24 | 24 | ||
Current liabilities | 2,000 | 1,928 | ||
Long-term debt | 153 | 152 | ||
Pension and postretirement benefits | 0 | 0 | ||
Intercompany loans payable | 4,316 | 4,316 | ||
Noncurrent liabilities held for sale | 0 | |||
Other noncurrent liabilities | 23 | 24 | ||
Long-term liabilities | 4,492 | 4,492 | ||
Redeemable noncontrolling interests | 0 | 0 | ||
Ordinary shares | 0 | 0 | ||
Ordinary shares held in treasury | 0 | 0 | ||
Other shareholders' equity | 18,279 | 18,025 | ||
Shareholders' equity attributable to Johnson Controls | 18,279 | 18,025 | ||
Nonredeemable noncontrolling interest | 0 | 0 | ||
Total equity | 18,279 | 18,025 | ||
Total liabilities and equity | 24,771 | 24,445 | ||
Non-Guarantor Subsidiaries [Member] | ||||
Condensed Balance Sheet Statements, Captions [Line Items] | ||||
Cash and cash equivalents | 991 | 718 | $ 0 | $ 324 |
Accounts receivable - net | 6,731 | 6,666 | ||
Inventories | 3,459 | 3,209 | ||
Intercompany receivables | 22,957 | 4,470 | ||
Assets held for sale | 40 | 189 | ||
Other current assets | 1,600 | 1,892 | ||
Current assets | 35,778 | 17,144 | ||
Property, plant and equipment - net | 6,105 | 6,121 | ||
Goodwill | 19,442 | 19,413 | ||
Other intangible assets - net | 6,657 | 6,741 | ||
Investments in partially-owned affiliates | 1,219 | 1,191 | ||
Investments in affiliates | 0 | 0 | ||
Intercompany loans receivable | 9,004 | 9,004 | ||
Noncurrent assets held for sale | 1,920 | |||
Other noncurrent assets | 3,570 | 3,868 | ||
Total assets | 81,775 | 65,402 | ||
Short-term debt | 607 | 624 | ||
Current portion of long-term debt | 24 | 69 | ||
Accounts payable | 4,019 | 4,271 | ||
Accrued compensation and benefits | 882 | 1,067 | ||
Deferred revenue | 1,368 | 1,279 | ||
Liabilities held for sale | 72 | |||
Intercompany payables | 812 | 660 | ||
Other current liabilities | 2,969 | 3,203 | ||
Current liabilities | 10,681 | 11,245 | ||
Long-term debt | 2,025 | 4,006 | ||
Pension and postretirement benefits | 896 | 947 | ||
Intercompany loans payable | 6,976 | 6,976 | ||
Noncurrent liabilities held for sale | 173 | |||
Other noncurrent liabilities | 4,981 | 5,344 | ||
Long-term liabilities | 14,878 | 17,446 | ||
Redeemable noncontrolling interests | 226 | 211 | ||
Ordinary shares | 0 | 0 | ||
Ordinary shares held in treasury | 0 | 0 | ||
Other shareholders' equity | 55,025 | 35,580 | ||
Shareholders' equity attributable to Johnson Controls | 55,025 | 35,580 | ||
Nonredeemable noncontrolling interest | 965 | 920 | ||
Total equity | 55,990 | 36,500 | ||
Total liabilities and equity | $ 81,775 | $ 65,402 |
TIFSA Condensed Statement of Ca
TIFSA Condensed Statement of Cash Flows (Details) - USD ($) $ in Millions | 3 Months Ended | |||
Dec. 31, 2017 | Dec. 31, 2016 | Sep. 30, 2017 | Sep. 30, 2016 | |
Condensed Cash Flow Statements, Captions [Line Items] | ||||
Net cash provided (used) by operating activities | $ (129) | $ (1,885) | ||
Capital expenditures | (230) | (371) | ||
Sale of property, plant and equipment | 5 | 2 | ||
Acquisition of businesses, net of cash acquired | 0 | (3) | ||
Business divestitures | 2,011 | 47 | ||
Changes in long-term investments | (12) | (6) | ||
Net change in intercompany loans | 0 | 0 | ||
Net cash used by investing activities | 1,774 | (331) | ||
Increase (decrease) in short-term debt - net | 304 | 1,312 | ||
Increase in long-term debt | 885 | 7 | ||
Repayment of long-term debt | (2,234) | (763) | ||
Debt financing costs | (4) | (6) | ||
Stock repurchases | (150) | 0 | ||
Payment of cash dividends | (232) | 0 | ||
Proceeds from the exercise of stock options | 16 | 29 | ||
Employee equity-based compensation withholding taxes | (25) | (25) | ||
Net change in intercompany loans payable | 0 | 0 | ||
Dividends paid to noncontrolling interests | 0 | (31) | ||
Dividend from Adient spin-off | 0 | 2,050 | ||
Cash transferred to Adient related to spin-off | 0 | (564) | ||
Cash paid related to prior acquistions | 0 | (45) | ||
Net cash provided by financing activities | (1,440) | 1,964 | ||
Effect of exchange rate changes on cash and cash equivalents | 17 | (55) | ||
Changes in cash held for sale | 9 | 105 | ||
Increase (decrease) in cash and cash equivalents | 231 | (202) | ||
Cash and cash equivalents, at carrying value | 552 | 377 | $ 321 | $ 579 |
Consolidation, Eliminations [Member] | ||||
Condensed Cash Flow Statements, Captions [Line Items] | ||||
Net cash provided (used) by operating activities | 0 | 0 | ||
Capital expenditures | 0 | 0 | ||
Sale of property, plant and equipment | 0 | 0 | ||
Acquisition of businesses, net of cash acquired | 0 | |||
Business divestitures | 0 | 0 | ||
Changes in long-term investments | 0 | 0 | ||
Net change in intercompany loans | (446) | (10) | ||
Net cash used by investing activities | (446) | (10) | ||
Increase (decrease) in short-term debt - net | (27) | (253) | ||
Increase in long-term debt | 0 | 0 | ||
Repayment of long-term debt | 0 | 0 | ||
Debt financing costs | 0 | 0 | ||
Stock repurchases | 0 | |||
Payment of cash dividends | 0 | |||
Proceeds from the exercise of stock options | 0 | 0 | ||
Employee equity-based compensation withholding taxes | 0 | 0 | ||
Net change in intercompany loans payable | 446 | 10 | ||
Dividends paid to noncontrolling interests | 0 | |||
Dividend from Adient spin-off | 0 | |||
Cash transferred to Adient related to spin-off | 0 | |||
Cash paid related to prior acquistions | 0 | |||
Net cash provided by financing activities | 419 | (243) | ||
Effect of exchange rate changes on cash and cash equivalents | 0 | 0 | ||
Changes in cash held for sale | 0 | 0 | ||
Increase (decrease) in cash and cash equivalents | (27) | (253) | ||
Cash and cash equivalents, at carrying value | (913) | (253) | (886) | 0 |
Parent Company [Member] | ||||
Condensed Cash Flow Statements, Captions [Line Items] | ||||
Net cash provided (used) by operating activities | (135) | 211 | ||
Capital expenditures | 0 | 0 | ||
Sale of property, plant and equipment | 0 | 0 | ||
Acquisition of businesses, net of cash acquired | 0 | |||
Business divestitures | 0 | 0 | ||
Changes in long-term investments | 0 | 0 | ||
Net change in intercompany loans | 300 | 0 | ||
Net cash used by investing activities | 300 | 0 | ||
Increase (decrease) in short-term debt - net | 344 | 105 | ||
Increase in long-term debt | 885 | 0 | ||
Repayment of long-term debt | (259) | 0 | ||
Debt financing costs | (4) | (6) | ||
Stock repurchases | (150) | |||
Payment of cash dividends | (232) | |||
Proceeds from the exercise of stock options | 16 | 29 | ||
Employee equity-based compensation withholding taxes | 0 | 0 | ||
Net change in intercompany loans payable | (480) | 0 | ||
Dividends paid to noncontrolling interests | 0 | |||
Dividend from Adient spin-off | 0 | |||
Cash transferred to Adient related to spin-off | 0 | |||
Cash paid related to prior acquistions | 0 | |||
Net cash provided by financing activities | 120 | 128 | ||
Effect of exchange rate changes on cash and cash equivalents | 0 | 0 | ||
Changes in cash held for sale | 0 | 0 | ||
Increase (decrease) in cash and cash equivalents | 285 | 339 | ||
Cash and cash equivalents, at carrying value | 285 | 350 | 0 | 11 |
Guarantor Subsidiaries [Member] | ||||
Condensed Cash Flow Statements, Captions [Line Items] | ||||
Net cash provided (used) by operating activities | 1 | 0 | ||
Capital expenditures | 0 | 0 | ||
Sale of property, plant and equipment | 0 | 0 | ||
Acquisition of businesses, net of cash acquired | 0 | |||
Business divestitures | 0 | 0 | ||
Changes in long-term investments | 0 | 0 | ||
Net change in intercompany loans | 0 | 0 | ||
Net cash used by investing activities | 0 | 0 | ||
Increase (decrease) in short-term debt - net | 0 | 0 | ||
Increase in long-term debt | 0 | 0 | ||
Repayment of long-term debt | 0 | 0 | ||
Debt financing costs | 0 | 0 | ||
Stock repurchases | 0 | |||
Payment of cash dividends | 0 | |||
Proceeds from the exercise of stock options | 0 | 0 | ||
Employee equity-based compensation withholding taxes | 0 | 0 | ||
Net change in intercompany loans payable | 0 | 0 | ||
Dividends paid to noncontrolling interests | 0 | |||
Dividend from Adient spin-off | 0 | |||
Cash transferred to Adient related to spin-off | 0 | |||
Cash paid related to prior acquistions | 0 | |||
Net cash provided by financing activities | 0 | 0 | ||
Effect of exchange rate changes on cash and cash equivalents | 0 | 0 | ||
Changes in cash held for sale | 0 | 0 | ||
Increase (decrease) in cash and cash equivalents | 1 | 0 | ||
Cash and cash equivalents, at carrying value | 108 | 0 | 107 | 0 |
Subsidiary Issuer [Member] | ||||
Condensed Cash Flow Statements, Captions [Line Items] | ||||
Net cash provided (used) by operating activities | 33 | 32 | ||
Capital expenditures | 0 | 0 | ||
Sale of property, plant and equipment | 0 | 0 | ||
Acquisition of businesses, net of cash acquired | (6) | |||
Business divestitures | 0 | 0 | ||
Changes in long-term investments | 0 | 0 | ||
Net change in intercompany loans | (334) | 10 | ||
Net cash used by investing activities | (334) | 4 | ||
Increase (decrease) in short-term debt - net | 0 | 0 | ||
Increase in long-term debt | 0 | 0 | ||
Repayment of long-term debt | 0 | 0 | ||
Debt financing costs | 0 | 0 | ||
Stock repurchases | 0 | |||
Payment of cash dividends | 0 | |||
Proceeds from the exercise of stock options | 0 | 0 | ||
Employee equity-based compensation withholding taxes | 0 | 0 | ||
Net change in intercompany loans payable | 0 | 0 | ||
Dividends paid to noncontrolling interests | 0 | |||
Dividend from Adient spin-off | 0 | |||
Cash transferred to Adient related to spin-off | 0 | |||
Cash paid related to prior acquistions | 0 | |||
Net cash provided by financing activities | 0 | 0 | ||
Effect of exchange rate changes on cash and cash equivalents | 0 | 0 | ||
Changes in cash held for sale | 0 | 0 | ||
Increase (decrease) in cash and cash equivalents | (301) | 36 | ||
Cash and cash equivalents, at carrying value | 81 | 280 | 382 | 244 |
Non-Guarantor Subsidiaries [Member] | ||||
Condensed Cash Flow Statements, Captions [Line Items] | ||||
Net cash provided (used) by operating activities | (28) | (2,128) | ||
Capital expenditures | (230) | (371) | ||
Sale of property, plant and equipment | 5 | 2 | ||
Acquisition of businesses, net of cash acquired | 3 | |||
Business divestitures | 2,011 | 47 | ||
Changes in long-term investments | (12) | (6) | ||
Net change in intercompany loans | 480 | 0 | ||
Net cash used by investing activities | 2,254 | (325) | ||
Increase (decrease) in short-term debt - net | (13) | 1,460 | ||
Increase in long-term debt | 0 | 7 | ||
Repayment of long-term debt | (1,975) | (763) | ||
Debt financing costs | 0 | 0 | ||
Stock repurchases | 0 | |||
Payment of cash dividends | 0 | |||
Proceeds from the exercise of stock options | 0 | 0 | ||
Employee equity-based compensation withholding taxes | (25) | (25) | ||
Net change in intercompany loans payable | 34 | (10) | ||
Dividends paid to noncontrolling interests | (31) | |||
Dividend from Adient spin-off | 2,050 | |||
Cash transferred to Adient related to spin-off | (564) | |||
Cash paid related to prior acquistions | (45) | |||
Net cash provided by financing activities | (1,979) | 2,079 | ||
Effect of exchange rate changes on cash and cash equivalents | 17 | (55) | ||
Changes in cash held for sale | 9 | 105 | ||
Increase (decrease) in cash and cash equivalents | 273 | (324) | ||
Cash and cash equivalents, at carrying value | $ 991 | $ 0 | $ 718 | $ 324 |
Commitments and Contingencies -
Commitments and Contingencies - Additional Information (Detail) | 3 Months Ended | 12 Months Ended | |
Dec. 31, 2017USD ($) | Sep. 30, 2017USD ($) | Sep. 30, 2017USD ($) | |
Loss Contingencies [Line Items] | |||
Estimated asbestos related net liability on a discounted basis | $ 166,000,000 | $ 181,000,000 | $ 181,000,000 |
Reserves for environmental liabilities | 48,000,000 | 51,000,000 | 51,000,000 |
Conditional asset retirement obligations | 62,000,000 | 61,000,000 | 61,000,000 |
Accrued Environmental Loss Contingencies, Current | 10,000,000 | ||
Accrued Environmental Loss Contingencies, Noncurrent | 38,000,000 | ||
Liability for Asbestos and Environmental Claims, Gross | 559,000,000 | 573,000,000 | 573,000,000 |
Restricted Cash and Investments | 393,000,000 | 392,000,000 | 392,000,000 |
Restricted Cash and Cash Equivalents | 19,000,000 | 31,000,000 | 31,000,000 |
Insurance Recoveries | 100,000,000 | 101,000,000 | |
Insurable liabilities | 434,000,000 | 445,000,000 | 445,000,000 |
Insurance Settlements Receivable, Current | 6,000,000 | 31,000,000 | 31,000,000 |
Insurance Settlements Receivable | 21,000,000 | 46,000,000 | 46,000,000 |
Insurance Settlements Receivable, Noncurrent | $ 15,000,000 | 15,000,000 | 15,000,000 |
Arbitration award to plaintiff | $ 50,000,000 | ||
Accrued interest while arbitration award remains outstanding | 9.56% | ||
Class actions lawsuits against the Company | 12 | ||
Loss Contingency, Number of Plaintiffs | 32 | ||
Other possible individual product liability claims | 540 | ||
Asbestos Issue [Member] | |||
Loss Contingencies [Line Items] | |||
Restricted Cash and Cash Equivalents | $ 10,000,000 | $ 22,000,000 | 22,000,000 |
Restricted Investments | 283,000,000 | 269,000,000 | 269,000,000 |
Selling, General And Administrative | |||
Loss Contingencies [Line Items] | |||
Arbitration award to plaintiff | 50,000,000 | ||
Accrued Compensation and Benefits [Member] | |||
Loss Contingencies [Line Items] | |||
Insurable liabilities | 23,000,000 | 22,000,000 | 22,000,000 |
Other Current Assets | |||
Loss Contingencies [Line Items] | |||
Restricted Cash and Investments | 55,000,000 | 53,000,000 | 53,000,000 |
Other Noncurrent Assets | |||
Loss Contingencies [Line Items] | |||
Restricted Cash and Investments | 338,000,000 | 339,000,000 | 339,000,000 |
Other Noncurrent Liabilities [Member] | |||
Loss Contingencies [Line Items] | |||
Liability for Asbestos and Environmental Claims, Gross | 505,000,000 | 525,000,000 | 525,000,000 |
Insurable liabilities | 319,000,000 | 301,000,000 | 301,000,000 |
Other Current Liabilities | |||
Loss Contingencies [Line Items] | |||
Liability for Asbestos and Environmental Claims, Gross | 54,000,000 | 48,000,000 | 48,000,000 |
Insurable liabilities | $ 92,000,000 | $ 122,000,000 | $ 122,000,000 |
Related Party Transactions (Det
Related Party Transactions (Details) - USD ($) $ in Millions | 3 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Sep. 30, 2017 | |
Related Party Transaction [Line Items] | |||
Receivable from related parties | $ 122 | $ 108 | |
Payable to related parties | 34 | $ 50 | |
Revenue from related parties | 242 | $ 225 | |
Purchases from related parties | $ 41 | $ 49 |