Johnson Controls International plc, balance sheet: property, plant and equipment

US$ in millions

	Sep 30, 2023	Sep 30, 2022	Sep 30, 2021	Sep 30, 2020	Sep 30, 2019	Sep 30, 2018
Buildings and improvements	1,337)	1,300)	1,313)	1,351)	1,499)	2,537)
Subscriber systems	823)	733)	802)	679)	661)	573)
Machinery and equipment	4,227)	3,550)	3,669)	3,332)	2,969)	6,049)
Construction in progress	540)	512)	500)	327)	465)	1,324)
Land	194)	196)	231)	241)	250)	363)
Property, plant and equipment, gross	7,121)	6,291)	6,515)	5,930)	5,844)	10,846)
Accumulated depreciation	(3,985)	(3,249)	(3,287)	(2,871)	(2,496)	(4,675)
Property, plant and equipment, net	3,136)	3,042)	3,228)	3,059)	3,348)	6,171)

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Item	Description	The company
Property, plant and equipment, gross	Amount before accumulated depreciation, depletion and amortization of physical assets used in the normal conduct of business and not intended for resale. Examples include, but are not limited to, land, buildings, machinery and equipment, office equipment, and furniture and fixtures.	Johnson Controls International plc property, plant and equipment, gross decreased from 2021 to 2022 but then increased from 2022 to 2023 exceeding 2021 level.
Property, plant and equipment, net	Amount after accumulated depreciation, depletion and amortization of physical assets used in the normal conduct of business to produce goods and services and not intended for resale. Examples include, but are not limited to, land, buildings, machinery and equipment, office equipment, and furniture and fixtures.	Johnson Controls International plc property, plant and equipment, net decreased from 2021 to 2022 but then increased from 2022 to 2023 not reaching 2021 level.

Johnson Controls International plc, asset age ratios

		Sep 30, 2023	Sep 30, 2022	Sep 30, 2021	Sep 30, 2020	Sep 30, 2019	Sep 30, 2018
	Average age ratio	57.53%	53.31%	52.31%	50.47%	44.62%	44.60%

Asset age ratio	Description	The company
Average age ratio	As long as straight-line depreciation is used, this is an accurate estimate of asset age as a percentage of depreciable life. The relative age is a useful measure of whether the company fixed asset base is old or new. Newer assets are likely to be more efficient.	Johnson Controls International plc average age ratio of depreciable property, plant and equipment deteriorated from 2021 to 2022 and from 2022 to 2023.

	Sep 30, 2023	Sep 30, 2022	Sep 30, 2021	Sep 30, 2020	Sep 30, 2019	Sep 30, 2018
Selected Financial Data (US$ in millions)
Accumulated depreciation	3,985)	3,249)	3,287)	2,871)	2,496)	4,675)
Property, plant and equipment, gross	7,121)	6,291)	6,515)	5,930)	5,844)	10,846)
Land	194)	196)	231)	241)	250)	363)
Asset Age Ratio
Average age¹	57.53%	53.31%	52.31%	50.47%	44.62%	44.60%

2023 Calculations

¹ Average age = 100 × Accumulated depreciation ÷ (Property, plant and equipment, gross – Land)
= 100 × 3,985 ÷ (7,121 – 194) = 57.53%

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Asset age ratio	Description	The company
Average age	As long as straight-line depreciation is used, this is an accurate estimate of asset age as a percentage of depreciable life. The relative age is a useful measure of whether the company fixed asset base is old or new. Newer assets are likely to be more efficient.	Johnson Controls International plc average age ratio of depreciable property, plant and equipment deteriorated from 2021 to 2022 and from 2022 to 2023.

Johnson Controls International plc (NYSE:JCI)

Analysis of Property, Plant and Equipment