Name: Johnson Controls International plc (NYSE:JCI) | Balance Sheet: Assets
Creator: Stock Analysis on Net

Balance Sheet: Assets

The balance sheet provides creditors, investors, and analysts with information on company resources (assets) and its sources of capital (its equity and liabilities). It normally also provides information about the future earnings capacity of a company assets as well as an indication of cash flows that may come from receivables and inventories.

Assets are resources controlled by the company as a result of past events and from which future economic benefits are expected to flow to the entity.

Assets: Selected Items

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Current Assets: Selected Items

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Johnson Controls International plc, consolidated balance sheet: assets

US$ in millions

	Sep 30, 2023	Sep 30, 2022	Sep 30, 2021	Sep 30, 2020	Sep 30, 2019	Sep 30, 2018
Cash and cash equivalents	835)	2,031)	1,336)	1,951)	2,805)	200)
Accounts receivable, less allowance for expected credit losses	6,006)	5,528)	5,613)	5,294)	5,770)	7,065)
Inventories	2,776)	2,510)	2,057)	1,773)	1,814)	3,224)
Current assets held for sale	—)	387)	—)	—)	98)	—)
Other current assets	1,120)	1,229)	992)	1,035)	1,906)	1,334)
Current assets	10,737)	11,685)	9,998)	10,053)	12,393)	11,823)
Property, plant and equipment, net	3,136)	3,042)	3,228)	3,059)	3,348)	6,171)
Goodwill	17,936)	17,328)	18,335)	17,932)	18,178)	19,473)
Other intangible assets, net	4,888)	4,641)	5,549)	5,356)	5,632)	6,348)
Investments in partially-owned affiliates	1,056)	963)	1,066)	914)	853)	1,301)
Noncurrent assets held for sale	—)	751)	156)	147)	60)	—)
Other noncurrent assets	4,489)	3,748)	3,558)	3,354)	1,823)	3,681)
Noncurrent assets	31,505)	30,473)	31,892)	30,762)	29,894)	36,974)
Total assets	42,242)	42,158)	41,890)	40,815)	42,287)	48,797)

Based on: 10-K (reporting date: 2023-09-30), 10-K (reporting date: 2022-09-30), 10-K (reporting date: 2021-09-30), 10-K (reporting date: 2020-09-30), 10-K (reporting date: 2019-09-30), 10-K (reporting date: 2018-09-30).

Total assets experienced an initial decline from 48,797 million USD in 2018 to a low of 40,815 million USD in 2020, before stabilizing and ending the period at 42,242 million USD in 2023. This overall contraction suggests a period of asset optimization or divestiture early in the analyzed timeframe, followed by a phase of relative stability.

Liquidity and Current Asset Trends: Current assets declined from 11,823 million USD in 2018 to 10,737 million USD in 2023. Cash and cash equivalents exhibited significant volatility, rising sharply from 200 million USD in 2018 to a peak of 2,805 million USD in 2019, before trending downward to 835 million USD by 2023. Accounts receivable remained a primary driver of current assets, although they decreased from a high of 7,065 million USD in 2018 to 6,006 million USD in 2023. Inventory levels showed a U-shaped pattern, dropping from 3,224 million USD in 2018 to 1,773 million USD in 2020, then steadily increasing to 2,776 million USD by 2023.
Fixed and Long-term Asset Analysis: Noncurrent assets decreased from 36,974 million USD in 2018 to 31,505 million USD in 2023. A notable structural change occurred in property, plant and equipment, net, which fell precipitously from 6,171 million USD in 2018 to approximately 3,136 million USD in 2023, representing a nearly 50% reduction in net fixed assets. Other noncurrent assets saw a general increase toward the end of the period, reaching 4,489 million USD in 2023.
Intangible Asset Composition: Goodwill and other intangible assets constitute a substantial portion of the total asset base. Goodwill remained relatively stable, fluctuating between a high of 19,473 million USD in 2018 and 17,328 million USD in 2022, ending at 17,936 million USD in 2023. Other intangible assets, net, followed a gradual downward trend, decreasing from 6,348 million USD in 2018 to 4,888 million USD in 2023. The combined weight of these intangible items indicates that a significant percentage of the company's balance sheet is tied to acquired premiums and non-physical assets.

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