Johnson Controls International (JCI) FY2012 results: revenue $9.9 billion, down 2.0% on the year
Johnson Controls International plc (JCI) reported revenue of $9.9 billion for fiscal 2012, the year ended 28 September 2012, down 2.0% on the year before. Net income was $472 million, down 72.5%, and diluted earnings per share $1.02. The figures are the company's own, from the 10-K it filed with the SEC on 16 November 2012.
Revenue
$9.9 billion
-2.0% on the year
FY2007FY2012
Operating margin
5.8%
8.8% a year earlier
FY2007FY2012
Net income
$472 million
-72.5% on the year
FY2007FY2012
Diluted EPS
$1.02
-71.6% on the year
FY2007FY2012
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2012
FY2011
FY2010
On the year
Last 8 years
Revenue
9,892
10,099
11,020
-2.0%
Cost of revenue
3,905
6,614
7,404
-41.0%
Gross profit
5,987
3,485
3,616
+71.8%
Gross margin
60.5%
34.5%
32.8%
Research and development
145
129
113
+12.4%
Selling, general and administrative
2,823
2,747
2,946
+2.8%
Operating income
578
887
615
-34.8%
Operating margin
5.8%
8.8%
5.6%
Interest expense
209
240
279
-12.9%
Pre-tax income
-67.0
668
285
Income tax
320
112
-17.0
+185.7%
Effective tax rate
n/a
16.8%
-6.0%
Net income
472
1,719
1,132
-72.5%
Net margin
4.8%
17.0%
10.3%
Diluted EPS
$1.02
$3.59
$2.32
-71.6%
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2012
FY2011
FY2010
On the year
Last 8 years
Operating cash flow
2,586
2,428
2,657
+6.5%
Capital expenditure
295
273
351
+8.1%
Free cash flow
2,291
2,155
2,306
+6.3%
Free cash flow margin
23.2%
21.3%
20.9%
Depreciation and amortisation
379
383
449
-1.0%
Share-based compensation
140
0.0
120
+127,272,627.3%
Buybacks
500
1,300
900
-61.5%
Dividends paid
461
458
416
+0.7%
Diluted shares, weighted
463m
479m
488m
-3.3%
Balance sheet
$ million
FY2012
FY2011
FY2010
On the year
Last 8 years
Shareholders' equity
4,994
14,149
14,084
-64.7%
Non-controlling interest
16.0
5.0
17.0
+220.0%
Redeemable equity
12.0
93.0
n/a
-87.1%
Debt
1,491
4,106
4,188
-63.7%
Other liabilities
5,852
8,349
8,777
-29.9%
Total liabilities and equity
12,365
26,702
27,066
-53.7%
Fixed assets
1,324
1,609
4,156
-17.7%
Goodwill
4,034
3,913
4,080
+3.1%
Intangible assets
758
745
3,446
+1.7%
Investments
203
247
283
-17.8%
Cash and equivalents
844
844
844
0.0%
Receivables
1,679
1,547
2,493
+8.5%
Inventory
625
539
1,443
+16.0%
Other assets
2,898
17,258
10,321
-83.2%
Total assets
12,365
26,702
27,066
-53.7%
10-K for the year ended 28 September 2012, filed 16 November 2012: the filing.