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Johnson Controls International plc (NYSE:JCI)

This company has been moved to the archive! The financial data has not been updated since May 1, 2024.

Common-Size Balance Sheet: Assets
Quarterly Data

Johnson Controls International plc, common-size consolidated balance sheet: assets (quarterly data)

Microsoft Excel
Mar 31, 2024 Dec 31, 2023 Sep 30, 2023 Jun 30, 2023 Mar 31, 2023 Dec 31, 2022 Sep 30, 2022 Jun 30, 2022 Mar 31, 2022 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019 Dec 31, 2018 Sep 30, 2018 Jun 30, 2018 Mar 31, 2018 Dec 31, 2017
Cash and cash equivalents 1.94 4.09 1.98 2.47 4.55 3.53 4.82 3.56 4.16 2.86 3.19 3.44 4.57 4.44 4.78 5.67 2.49 5.08 6.63 8.56 0.49 0.61 0.41 0.57 0.54 1.11
Accounts receivable, less allowance for expected credit losses 15.39 13.74 14.22 15.29 13.82 13.37 13.11 13.82 13.23 13.43 13.40 13.45 12.55 12.50 12.97 12.95 13.59 13.20 13.64 14.01 11.77 11.33 14.48 13.96 13.37 13.53
Inventories 6.88 6.83 6.57 7.23 7.02 6.76 5.95 6.08 5.85 5.74 4.91 4.90 4.84 4.62 4.34 4.84 5.02 4.59 4.29 4.76 4.38 4.22 6.61 7.10 7.14 6.95
Current assets held for sale 0.00 0.00 0.00 0.00 1.03 0.98 0.92 0.93 0.90 0.00 0.00 0.00 0.00 0.00 0.00 0.22 0.23 0.20 0.23 0.22 6.18 6.34 0.00 0.02 0.04 0.08
Other current assets 3.12 2.73 2.65 3.08 2.96 3.02 2.92 2.92 2.87 2.49 2.37 2.68 2.82 2.67 2.54 3.32 3.31 3.55 4.51 2.74 3.64 2.40 2.73 3.57 3.48 3.31
Current assets 27.33% 27.41% 25.42% 28.06% 29.38% 27.66% 27.72% 27.31% 27.01% 24.52% 23.87% 24.47% 24.78% 24.22% 24.63% 26.99% 24.64% 26.63% 29.31% 30.28% 26.47% 24.90% 24.23% 25.23% 24.57% 24.97%
Property, plant and equipment, net 7.14 7.12 7.42 7.45 7.13 7.24 7.22 7.00 7.22 7.61 7.71 7.38 7.32 7.44 7.49 7.37 8.10 7.86 7.92 7.62 6.87 6.90 12.65 12.33 12.48 12.27
Goodwill 40.86 41.21 42.46 41.24 40.44 41.32 41.10 41.88 41.94 43.55 43.77 43.78 44.01 43.95 43.93 43.02 44.73 43.17 42.99 42.52 37.76 38.09 39.91 39.49 39.65 39.62
Other intangible assets, net 10.85 10.99 11.57 11.29 10.67 10.92 11.01 11.26 11.37 13.04 13.25 13.48 12.77 13.00 13.12 12.99 13.34 13.20 13.32 13.33 12.40 12.66 13.01 13.00 13.26 13.38
Investments in partially-owned affiliates 2.70 2.60 2.50 2.31 2.45 2.46 2.28 2.53 2.50 2.61 2.54 2.41 2.54 2.42 2.24 2.02 2.15 2.03 2.02 1.97 1.93 1.85 2.67 2.61 2.59 2.45
Noncurrent assets held for sale 0.00 0.00 0.00 0.00 0.87 1.37 1.78 2.11 2.51 0.38 0.37 0.44 0.43 0.37 0.36 0.48 0.11 0.11 0.14 0.14 10.78 10.74 0.00 0.00 0.00 0.00
Other noncurrent assets 11.11 10.67 10.63 9.64 9.06 9.03 8.89 7.92 7.46 8.30 8.49 8.04 8.14 8.59 8.22 7.12 6.92 7.01 4.31 4.15 3.77 4.85 7.54 7.33 7.45 7.31
Noncurrent assets 72.67% 72.59% 74.58% 71.94% 70.62% 72.34% 72.28% 72.69% 72.99% 75.48% 76.13% 75.53% 75.22% 75.78% 75.37% 73.01% 75.36% 73.37% 70.69% 69.72% 73.53% 75.10% 75.77% 74.77% 75.43% 75.03%
Total assets 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%

Based on: 10-Q (reporting date: 2024-03-31), 10-Q (reporting date: 2023-12-31), 10-K (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-Q (reporting date: 2022-12-31), 10-K (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-Q (reporting date: 2021-12-31), 10-K (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-Q (reporting date: 2020-12-31), 10-K (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-Q (reporting date: 2019-12-31), 10-K (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31), 10-Q (reporting date: 2018-12-31), 10-K (reporting date: 2018-09-30), 10-Q (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31), 10-Q (reporting date: 2017-12-31).

The asset structure of the organization is characterized by a significant concentration of noncurrent assets, particularly intangible assets and goodwill, which consistently represent the majority of the total asset base. Throughout the observed period, noncurrent assets have generally fluctuated between 69% and 76% of total assets, while current assets have remained relatively stable, typically ranging from 24% to 30%.

Liquidity and Current Asset Composition
Cash and cash equivalents have exhibited volatility, starting at low levels below 1.2% in 2017, peaking at 8.56% in June 2019, and subsequently stabilizing between 2% and 5% before declining to 1.94% by March 2024. Accounts receivable have remained a consistent component of current assets, generally hovering between 12% and 15% of total assets, with a slight upward trend toward the end of the period. Inventories showed a notable contraction from approximately 7% in 2017 to roughly 4% in 2019, followed by a gradual increase back to a range of 6% to 7% between 2022 and 2024.
Intangible Assets and Goodwill
Goodwill constitutes the largest single asset category, reflecting an acquisition-heavy growth strategy. It grew from 39.62% in December 2017 to a peak of 44.73% in March 2020, eventually settling around 40.86% by March 2024. Other intangible assets have followed a contrasting downward trajectory, decreasing from 13.38% in late 2017 to 10.85% by March 2024, suggesting the amortization of acquired intangibles over time.
Fixed Assets and Long-term Investments
A significant structural shift is observed in property, plant, and equipment, which dropped from approximately 12% of total assets in 2017 to a stabilized range of 7% to 8% from 2019 onward. Conversely, other noncurrent assets have shown a steady increase, rising from 7.31% in December 2017 to 11.11% by March 2024. Investments in partially-owned affiliates have remained relatively stagnant, typically oscillating between 2% and 3%.
Divestiture Activity
The presence of assets held for sale indicates periodic strategic divestments. Notable spikes occurred in late 2018 and early 2019, where noncurrent assets held for sale reached over 10% of the total asset base. A secondary increase was observed in early 2022, peaking at 2.51% before these assets were cleared or fully divested by mid-2023.

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