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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: Liabilities and Stockholders’ Equity
Quarterly Data

Johnson Controls International plc, common-size consolidated balance sheet: liabilities and stockholders’ equity (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
Short-term debt 5.09 4.54 0.91 0.43 4.00 2.40 1.59 4.92 4.75 0.93 0.02 0.63 0.60 0.03 0.08 3.20 0.85 0.05 0.02 0.05 5.90 4.83 2.69 3.16 2.22 3.04
Current portion of long-term debt 2.68 1.48 1.53 2.53 2.12 2.19 2.05 0.51 0.56 0.52 0.54 0.47 0.48 1.09 0.64 2.67 2.69 3.16 1.18 1.16 2.28 0.00 0.05 0.05 0.05 0.18
Accounts payable 9.25 9.04 10.10 10.04 10.01 9.67 10.06 9.75 9.54 9.67 8.94 8.83 8.30 7.75 7.64 7.41 7.72 7.85 8.47 8.52 7.18 6.82 9.52 8.93 8.51 8.08
Accrued compensation and benefits 1.79 2.12 2.27 2.23 1.72 2.13 2.32 2.07 1.65 2.19 2.41 2.36 1.98 2.02 2.05 1.66 1.72 1.99 2.25 1.81 1.51 1.81 2.35 1.99 1.73 1.77
Deferred revenue 5.36 4.82 4.73 4.48 4.47 4.15 4.19 4.36 4.58 4.37 3.91 3.91 4.15 3.82 3.52 3.52 3.96 3.52 3.33 3.23 3.14 2.87 2.72 2.67 3.09 2.75
Current liabilities held for sale 0.00 0.00 0.00 0.00 0.73 0.72 0.56 0.62 0.76 0.00 0.00 0.00 0.00 0.00 0.00 0.09 0.10 0.10 0.10 0.11 3.21 3.41 0.00 0.00 0.00 0.00
Other current liabilities 7.12 6.20 6.70 6.29 5.51 5.76 5.89 5.86 5.27 5.97 5.90 5.84 5.71 5.78 6.28 6.42 6.50 6.14 6.08 6.58 4.50 4.54 5.72 6.09 6.40 6.77
Current liabilities 31.29% 28.21% 26.24% 26.01% 28.57% 27.02% 26.66% 28.08% 27.11% 23.65% 21.72% 22.04% 21.22% 20.49% 20.21% 24.96% 23.54% 22.80% 21.45% 21.46% 27.72% 24.27% 23.05% 22.87% 22.01% 22.60%
Long-term debt, less current portion 16.91 18.10 18.51 19.86 18.04 18.19 17.61 17.00 17.13 17.61 17.92 17.37 17.78 18.03 18.44 13.74 13.96 13.93 15.86 15.80 17.36 19.97 19.78 21.00 21.95 21.89
Pension and postretirement benefits 0.58 0.62 0.66 0.78 0.83 0.83 0.85 1.26 1.14 1.18 1.50 1.74 2.02 2.68 2.79 2.55 2.31 2.38 2.47 1.14 1.10 1.19 1.47 1.57 1.73 1.80
Noncurrent liabilities held for sale 0.00 0.00 0.00 0.00 0.14 0.14 0.15 0.12 0.53 0.00 0.00 0.00 0.00 0.00 0.00 0.04 0.00 0.00 0.00 0.00 0.38 0.42 0.00 0.00 0.00 0.00
Other noncurrent liabilities 12.47 12.43 12.71 12.52 13.10 13.53 13.45 13.05 12.94 13.76 14.10 13.77 13.43 13.36 13.15 12.99 12.94 12.84 10.96 11.89 9.51 9.58 9.67 9.95 10.05 10.05
Long-term liabilities 29.95% 31.15% 31.87% 33.17% 32.10% 32.69% 32.06% 31.42% 31.75% 32.55% 33.51% 32.88% 33.23% 34.07% 34.38% 29.32% 29.22% 29.14% 29.30% 28.83% 28.35% 31.15% 30.92% 32.52% 33.72% 33.75%
Total liabilities 61.25% 59.36% 58.11% 59.18% 60.67% 59.71% 58.72% 59.50% 58.86% 56.21% 55.23% 54.91% 54.45% 54.56% 54.59% 54.28% 52.75% 51.94% 50.74% 50.29% 56.07% 55.42% 53.98% 55.39% 55.73% 56.34%
Redeemable noncontrolling interests 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.47 0.47 0.45
Ordinary shares, $0.01 par value 0.02 0.02 0.02 0.02 0.02 0.02 0.02 0.02 0.02 0.02 0.02 0.02 0.02 0.02 0.02 0.02 0.02 0.02 0.02 0.02 0.02 0.02 0.02 0.02 0.02 0.02
Ordinary A shares, €1.00 par value 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Preferred shares, $0.01 par value 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Ordinary shares held in treasury, at cost -2.91 -2.87 -2.94 -2.89 -2.84 -2.88 -2.85 -2.84 -2.79 -2.84 -2.75 -2.73 -2.79 -2.77 -2.74 -2.71 -2.77 -2.63 -2.57 -5.03 -4.29 -3.21 -2.16 -2.03 -1.89 -1.78
Capital in excess of par value 40.06 39.52 41.07 40.50 39.83 40.33 40.86 40.64 39.95 40.62 40.86 40.53 41.36 40.84 41.32 40.95 41.79 39.63 39.76 38.82 34.32 34.53 33.91 33.40 32.97 33.01
Retained earnings 1.17 3.42 3.28 2.57 1.54 2.04 2.73 1.52 2.09 3.88 4.83 5.35 5.38 5.75 6.05 7.16 8.25 9.71 11.41 14.78 13.23 12.78 13.53 12.30 11.20 10.85
Accumulated other comprehensive loss -2.31 -2.12 -2.26 -2.03 -1.95 -2.02 -2.16 -1.56 -0.80 -0.82 -1.04 -0.83 -1.00 -1.22 -1.90 -2.28 -2.53 -1.27 -1.88 -1.31 -1.96 -2.25 -1.94 -1.64 -0.51 -0.83
Shareholders’ equity attributable to Johnson Controls 36.03% 37.97% 39.17% 38.16% 36.60% 37.49% 38.59% 37.78% 38.46% 40.85% 41.92% 42.34% 42.98% 42.62% 42.75% 43.13% 44.76% 45.47% 46.74% 47.28% 41.32% 41.87% 43.37% 42.05% 41.79% 41.26%
Noncontrolling interests 2.72 2.67 2.72 2.66 2.74 2.80 2.69 2.73 2.68 2.94 2.84 2.75 2.57 2.82 2.66 2.59 2.49 2.59 2.51 2.43 2.61 2.72 2.65 2.10 2.01 1.94
Total equity 38.75% 40.64% 41.89% 40.82% 39.33% 40.29% 41.28% 40.50% 41.14% 43.79% 44.77% 45.09% 45.55% 45.44% 45.41% 45.72% 47.25% 48.06% 49.26% 49.71% 43.93% 44.58% 46.02% 44.14% 43.80% 43.20%
Total liabilities and equity 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 capital structure demonstrates a gradual shift toward higher leverage over the analyzed period. Total liabilities increased from 56.34% in December 2017 to 61.25% by March 2024, while total equity concurrently declined from 43.20% to 38.75%. This trend indicates a growing reliance on debt and other obligations relative to shareholder-funded capital.

Current Liabilities and Liquidity
Current liabilities have trended upward, rising from 22.60% to 31.29% of total liabilities and equity. A key contributor to this growth is deferred revenue, which expanded steadily from 2.75% to 5.36%, suggesting an increase in advance payments from customers. Accounts payable remained relatively stable but showed a slight upward trajectory, moving from 8.08% to 9.25%. Short-term debt is characterized by significant volatility, with frequent fluctuations between near-zero levels and peaks above 5%, indicating active short-term financing adjustments.
Long-Term Obligation Patterns
Long-term liabilities generally fluctuated between 28% and 34%. Long-term debt, excluding the current portion, showed a general decline from its initial 21.89% to 16.91% by the end of the period, despite intermittent spikes. Notably, pension and postretirement benefit obligations decreased substantially from 1.80% to 0.58%, reducing the long-term liability burden from these specific benefit commitments.
Equity Composition and Retained Earnings
Shareholders' equity attributable to the company declined from 41.26% to 36.03%. The most significant internal change is the sharp erosion of retained earnings, which dropped from 10.85% in December 2017 to 1.17% by March 2024. This decline in retained earnings was partially offset by an increase in capital in excess of par value, which rose from 33.01% to 40.06%, suggesting that the equity base is increasingly supported by contributed capital rather than accumulated profits.
Treasury and Comprehensive Loss
Ordinary shares held in treasury increased in magnitude from -1.78% to -2.91%, indicating continued share buyback activity. Accumulated other comprehensive loss remained a persistent negative factor, fluctuating between -0.51% and -2.53%, with a closing value of -2.31% in March 2024.

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