Cash Flow Statement
Quarterly Data
The cash flow statement provides information about a company cash receipts and cash payments during an accounting period, showing how these cash flows link the ending cash balance to the beginning balance shown on the company balance sheet.
The cash flow statement consists of three parts: cash flows provided by (used in) operating activities, cash flows provided by (used in) investing activities, and cash flows provided by (used in) financing activities.
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- Statement of Comprehensive Income
- Balance Sheet: Assets
- Common-Size Balance Sheet: Assets
- Analysis of Reportable Segments
- Analysis of Geographic Areas
- Enterprise Value to FCFF (EV/FCFF)
- Price to FCFE (P/FCFE)
- Capital Asset Pricing Model (CAPM)
- Total Asset Turnover since 2005
- Price to Sales (P/S) since 2005
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Johnson Controls International plc, consolidated cash flow statement (quarterly data)
US$ in millions
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).
- Net Income (Loss) Trends
- The net income attributable to the company shows significant volatility across the observed quarters. Initially, there was an upward trend reaching a peak in mid-2018, followed by a sharp decline with negative results in early 2020. The period from late 2020 to 2021 exhibited recovery with a peak net income in the first half of 2021. However, recent quarters display renewed fluctuations with a notable negative outlier in early 2024, indicating instability in profitability.
- Noncontrolling Interests Impact
- Income attributable to noncontrolling interests remains relatively stable with moderate fluctuations. Some quarters display spikes, yet these do not correspond clearly with net income swings, suggesting limited influence on overall earnings volatility.
- Depreciation and Amortization
- Depreciation and amortization expenses are relatively stable across the timeline, with a slight decreasing trend from 2017 through 2020 and minor incremental growth in recent periods. This consistency highlights stable capital asset usage and amortization policies.
- Pension and Postretirement Benefit Expenses
- Pension and postretirement benefit figures show irregular patterns with large spikes and troughs, including a considerable increase in September 2018 and a significant negative adjustment in early 2021. These fluctuations indicate high sensitivity to actuarial assumptions or plan adjustments impacting quarterly expenses.
- Working Capital Components
- Accounts receivable and inventories exhibit notable volatility, with large positive and negative swings suggesting variability in sales cycles, collection periods, or inventory management. Accounts payable demonstrate similarly erratic changes, including some substantial negative and positive shifts, indicating fluctuations in payment timing to suppliers.
- Cash Flow from Operating Activities
- Cash provided by operating activities generally follows net income trends with some deviation. Notably strong cash flows occurred in mid-2018 and again in late 2023, despite erratic periods in between. This pattern suggests variations in cash conversion efficiency or timing differences in working capital changes.
- Investing Activities
- Cash used in investing activities is predominantly negative, consistent with capital expenditures and acquisitions, reflecting ongoing investment in operations. There are occasional positive inflections linked to the sale of property, plant, equipment, and a notable spike related to business acquisitions and divestitures, demonstrating active portfolio management.
- Financing Activities
- Cash flows from financing activities are highly volatile with major outflows related to debt repayments, stock repurchases, and dividend payments. Periods in 2019 and 2020 show large repayments and stock retirements signaling deleveraging and capital return initiatives. Financing inflows and outflows fluctuate widely, indicating dynamic capital structure management.
- Equity-Based Compensation
- This expense item maintains a consistent range without extreme variations, reflecting a steady compensation policy tied to employee incentives.
- Other Items and Restructuring
- Restructuring charges and impairments show intermittent large spikes, particularly around 2019 and 2022, signaling periodic cost management initiatives or asset write-downs. Other miscellaneous items reveal sporadic positive and negative entries impacting earnings and cash flow adjustments, underscoring some operational variability beyond core business metrics.
- Exchange Rate Effects
- Foreign exchange changes have moderate impact on cash balances, with some quarters showing positive effects and others negative, reflecting exposure to currency fluctuations typical for a multinational entity.
- Overall Financial Stability
- Overall, the financial data reflects a company managing through cyclical profitability with strategic investment and financing decisions. There are marked periods of earnings volatility and cash flow swings, partly due to restructuring, pension adjustments, and working capital variability, implying operational challenges and adjustments to external conditions. The evidence of ongoing capital expenditures and divestitures points to active management of business assets aiming to support future growth and efficiency. Recent negative net income quarters and cash flow declines warrant attention to sustain long-term financial health.