Stock Analysis on Net
Stock Analysis on Net

Johnson Controls International plc (NYSE:JCI)

$22.49

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

Analysis of Income Taxes

Microsoft Excel

Paying user area

Try for free

Johnson Controls International plc pages available for free this week:

The data is hidden behind: . Unhide it.

  • Get full access to the entire website from $10.42/mo, or

  • get 1-month access to Johnson Controls International plc for $22.49.

Get access

This is a one-time payment. There is no automatic renewal.

We accept:

Visa Mastercard American Express Maestro Discover JCB PayPal Apple Pay Google Pay
Visa Secure Mastercard Identity Check American Express SafeKey

Income Tax Expense (Benefit)

Johnson Controls International plc, income tax expense (benefit), continuing operations

US$ in millions

Microsoft Excel
12 months ended: Sep 30, 2023 Sep 30, 2022 Sep 30, 2021 Sep 30, 2020 Sep 30, 2019 Sep 30, 2018
U.S. federal
U.S. state
Non-U.S.
Current
U.S. federal
U.S. state
Non-U.S.
Deferred
Income tax provision (benefit)

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).

Item Description The company
Current Amount of current income tax expense (benefit) pertaining to taxable income (loss) from continuing operations. Johnson Controls International plc current decreased from 2021 to 2022 but then slightly increased from 2022 to 2023.
Deferred Amount of deferred income tax expense (benefit) pertaining to income (loss) from continuing operations. Johnson Controls International plc deferred decreased from 2021 to 2022 and from 2022 to 2023.
Income tax provision (benefit) Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations. Johnson Controls International plc income tax provision (benefit) decreased from 2021 to 2022 and from 2022 to 2023.

Effective Income Tax Rate (EITR)

Johnson Controls International plc, effective income tax rate (EITR) reconciliation

Microsoft Excel
Sep 30, 2023 Sep 30, 2022 Sep 30, 2021 Sep 30, 2020 Sep 30, 2019 Sep 30, 2018
Ireland statutory rate
Effective tax rate

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).

Item Description The company
Effective tax rate Percentage of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations. Johnson Controls International plc effective tax rate decreased from 2021 to 2022 and from 2022 to 2023.

Components of Deferred Tax Assets and Liabilities

Johnson Controls International plc, components of deferred tax assets and liabilities

US$ in millions

Microsoft Excel
Sep 30, 2023 Sep 30, 2022 Sep 30, 2021 Sep 30, 2020 Sep 30, 2019 Sep 30, 2018
Accrued expenses and reserves
Employee and retiree benefits
Property, plant and equipment
Net operating loss and other credit carryforwards
Research and development
Operating lease liabilities
Other, net
Deferred tax assets
Valuation allowances
Deferred tax assets, less valuation allowances
Property, plant and equipment
Subsidiaries, joint ventures and partnerships
Intangible assets
Operating lease right-of-use assets
Other, net
Deferred tax liabilities
Net deferred tax asset (liability)

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).

Item Description The company
Deferred tax assets Amount before allocation of valuation allowances of deferred tax asset attributable to deductible temporary differences and carryforwards. Johnson Controls International plc deferred tax assets increased from 2021 to 2022 and from 2022 to 2023.
Deferred tax assets, less valuation allowances Amount after allocation of valuation allowances of deferred tax asset attributable to deductible temporary differences and carryforwards. Johnson Controls International plc deferred tax assets, less valuation allowances increased from 2021 to 2022 and from 2022 to 2023.
Net deferred tax asset (liability) Amount, after allocation of valuation allowances and deferred tax liability, of deferred tax asset attributable to deductible differences and carryforwards, without jurisdictional netting. Johnson Controls International plc net deferred tax asset (liability) increased from 2021 to 2022 and from 2022 to 2023.

Deferred Tax Assets and Liabilities, Classification

Johnson Controls International plc, deferred tax assets and liabilities, classification

US$ in millions

Microsoft Excel
Sep 30, 2023 Sep 30, 2022 Sep 30, 2021 Sep 30, 2020 Sep 30, 2019 Sep 30, 2018
Deferred tax assets (included in Other noncurrent assets)
Deferred tax liabilities (included in Other noncurrent liabilities)

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).

Item Description The company
Deferred tax assets (included in Other noncurrent assets) Amount, after allocation of valuation allowances and deferred tax liability, of deferred tax asset attributable to deductible differences and carryforwards, with jurisdictional netting and classified as noncurrent. Johnson Controls International plc deferred tax assets (included in Other noncurrent assets) increased from 2021 to 2022 and from 2022 to 2023.
Deferred tax liabilities (included in Other noncurrent liabilities) Amount, after deferred tax asset, of deferred tax liability attributable to taxable differences, with jurisdictional netting and classified as noncurrent. Johnson Controls International plc deferred tax liabilities (included in Other noncurrent liabilities) increased from 2021 to 2022 but then decreased significantly from 2022 to 2023.

Adjustments to Financial Statements: Removal of Deferred Taxes

Johnson Controls International plc, adjustments to financial statements

US$ in millions

Microsoft Excel
Sep 30, 2023 Sep 30, 2022 Sep 30, 2021 Sep 30, 2020 Sep 30, 2019 Sep 30, 2018
Adjustment to Total Assets
Total assets (as reported)
Less: Noncurrent deferred tax assets, net
Total assets (adjusted)
Adjustment to Total Liabilities
Total liabilities (as reported)
Less: Noncurrent deferred tax liabilities, net
Total liabilities (adjusted)
Adjustment to Shareholders’ Equity Attributable To Johnson Controls
Shareholders’ equity attributable to Johnson Controls (as reported)
Less: Net deferred tax assets (liabilities)
Shareholders’ equity attributable to Johnson Controls (adjusted)
Adjustment to Net Income Attributable To Johnson Controls
Net income attributable to Johnson Controls (as reported)
Add: Deferred income tax expense (benefit)
Net income attributable to Johnson Controls (adjusted)

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).

Johnson Controls International plc, Financial Data: Reported vs. Adjusted

Adjusted Financial Ratios: Removal of Deferred Taxes (Summary)

Johnson Controls International plc, adjusted financial ratios

Microsoft Excel
Sep 30, 2023 Sep 30, 2022 Sep 30, 2021 Sep 30, 2020 Sep 30, 2019 Sep 30, 2018
Net Profit Margin
Reported net profit margin
Adjusted net profit margin
Total Asset Turnover
Reported total asset turnover
Adjusted total asset turnover
Financial Leverage
Reported financial leverage
Adjusted financial leverage
Return on Equity (ROE)
Reported ROE
Adjusted ROE
Return on Assets (ROA)
Reported ROA
Adjusted ROA

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).

Financial ratio Description The company
Adjusted net profit margin An indicator of profitability, calculated as adjusted net income divided by total revenue. Johnson Controls International plc adjusted net profit margin ratio deteriorated from 2021 to 2022 and from 2022 to 2023.
Adjusted total asset turnover An activity ratio calculated as total revenue divided by adjusted total assets. Johnson Controls International plc adjusted total asset turnover ratio improved from 2021 to 2022 and from 2022 to 2023.
Adjusted financial leverage A measure of financial leverage calculated as adjusted total assets divided by adjusted total equity.
Financial leverage is the extent to which a company can effect, through the use of debt, a proportional change in the return on common equity that is greater than a given proportional change in operating income.		 Johnson Controls International plc adjusted financial leverage ratio increased from 2021 to 2022 and from 2022 to 2023.
Adjusted ROE A profitability ratio calculated as adjusted net income divided by adjusted shareholders’ equity. Johnson Controls International plc adjusted ROE deteriorated from 2021 to 2022 and from 2022 to 2023.
Adjusted ROA A profitability ratio calculated as adjusted net income divided by adjusted total assets. Johnson Controls International plc adjusted ROA deteriorated from 2021 to 2022 and from 2022 to 2023.

Johnson Controls International plc, Financial Ratios: Reported vs. Adjusted

Adjusted Net Profit Margin

Microsoft Excel
Sep 30, 2023 Sep 30, 2022 Sep 30, 2021 Sep 30, 2020 Sep 30, 2019 Sep 30, 2018
As Reported
Selected Financial Data (US$ in millions)
Net income attributable to Johnson Controls
Net sales
Profitability Ratio
Net profit margin1
Adjusted for Deferred Taxes
Selected Financial Data (US$ in millions)
Adjusted net income attributable to Johnson Controls
Net sales
Profitability Ratio
Adjusted net profit margin2

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).

2023 Calculations

1 Net profit margin = 100 × Net income attributable to Johnson Controls ÷ Net sales
= 100 × ÷ =

2 Adjusted net profit margin = 100 × Adjusted net income attributable to Johnson Controls ÷ Net sales
= 100 × ÷ =

Profitability ratio Description The company
Adjusted net profit margin An indicator of profitability, calculated as adjusted net income divided by total revenue. Johnson Controls International plc adjusted net profit margin ratio deteriorated from 2021 to 2022 and from 2022 to 2023.

Adjusted Total Asset Turnover

Microsoft Excel
Sep 30, 2023 Sep 30, 2022 Sep 30, 2021 Sep 30, 2020 Sep 30, 2019 Sep 30, 2018
As Reported
Selected Financial Data (US$ in millions)
Net sales
Total assets
Activity Ratio
Total asset turnover1
Adjusted for Deferred Taxes
Selected Financial Data (US$ in millions)
Net sales
Adjusted total assets
Activity Ratio
Adjusted total asset turnover2

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).

2023 Calculations

1 Total asset turnover = Net sales ÷ Total assets
= ÷ =

2 Adjusted total asset turnover = Net sales ÷ Adjusted total assets
= ÷ =

Activity ratio Description The company
Adjusted total asset turnover An activity ratio calculated as total revenue divided by adjusted total assets. Johnson Controls International plc adjusted total asset turnover ratio improved from 2021 to 2022 and from 2022 to 2023.

Adjusted Financial Leverage

Microsoft Excel
Sep 30, 2023 Sep 30, 2022 Sep 30, 2021 Sep 30, 2020 Sep 30, 2019 Sep 30, 2018
As Reported
Selected Financial Data (US$ in millions)
Total assets
Shareholders’ equity attributable to Johnson Controls
Solvency Ratio
Financial leverage1
Adjusted for Deferred Taxes
Selected Financial Data (US$ in millions)
Adjusted total assets
Adjusted shareholders’ equity attributable to Johnson Controls
Solvency Ratio
Adjusted financial leverage2

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).

2023 Calculations

1 Financial leverage = Total assets ÷ Shareholders’ equity attributable to Johnson Controls
= ÷ =

2 Adjusted financial leverage = Adjusted total assets ÷ Adjusted shareholders’ equity attributable to Johnson Controls
= ÷ =

Solvency ratio Description The company
Adjusted financial leverage A measure of financial leverage calculated as adjusted total assets divided by adjusted total equity.
Financial leverage is the extent to which a company can effect, through the use of debt, a proportional change in the return on common equity that is greater than a given proportional change in operating income.		 Johnson Controls International plc adjusted financial leverage ratio increased from 2021 to 2022 and from 2022 to 2023.

Adjusted Return on Equity (ROE)

Microsoft Excel
Sep 30, 2023 Sep 30, 2022 Sep 30, 2021 Sep 30, 2020 Sep 30, 2019 Sep 30, 2018
As Reported
Selected Financial Data (US$ in millions)
Net income attributable to Johnson Controls
Shareholders’ equity attributable to Johnson Controls
Profitability Ratio
ROE1
Adjusted for Deferred Taxes
Selected Financial Data (US$ in millions)
Adjusted net income attributable to Johnson Controls
Adjusted shareholders’ equity attributable to Johnson Controls
Profitability Ratio
Adjusted ROE2

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).

2023 Calculations

1 ROE = 100 × Net income attributable to Johnson Controls ÷ Shareholders’ equity attributable to Johnson Controls
= 100 × ÷ =

2 Adjusted ROE = 100 × Adjusted net income attributable to Johnson Controls ÷ Adjusted shareholders’ equity attributable to Johnson Controls
= 100 × ÷ =

Profitability ratio Description The company
Adjusted ROE A profitability ratio calculated as adjusted net income divided by adjusted shareholders’ equity. Johnson Controls International plc adjusted ROE deteriorated from 2021 to 2022 and from 2022 to 2023.

Adjusted Return on Assets (ROA)

Microsoft Excel
Sep 30, 2023 Sep 30, 2022 Sep 30, 2021 Sep 30, 2020 Sep 30, 2019 Sep 30, 2018
As Reported
Selected Financial Data (US$ in millions)
Net income attributable to Johnson Controls
Total assets
Profitability Ratio
ROA1
Adjusted for Deferred Taxes
Selected Financial Data (US$ in millions)
Adjusted net income attributable to Johnson Controls
Adjusted total assets
Profitability Ratio
Adjusted ROA2

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).

2023 Calculations

1 ROA = 100 × Net income attributable to Johnson Controls ÷ Total assets
= 100 × ÷ =

2 Adjusted ROA = 100 × Adjusted net income attributable to Johnson Controls ÷ Adjusted total assets
= 100 × ÷ =

Profitability ratio Description The company
Adjusted ROA A profitability ratio calculated as adjusted net income divided by adjusted total assets. Johnson Controls International plc adjusted ROA deteriorated from 2021 to 2022 and from 2022 to 2023.