Income Statement

The income statement presents information on the financial results of a company business activities over a period of time. The income statement communicates how much revenue the company generated during a period and what cost it incurred in connection with generating that revenue.

Johnson Controls International plc, consolidated income statement

US$ in millions

12 months ended:	Sep 30, 2023	Sep 30, 2022	Sep 30, 2021	Sep 30, 2020	Sep 30, 2019	Sep 30, 2018
Products and systems	20,251)	19,274)	17,202)	16,253)	17,711)	25,332)
Services	6,542)	6,025)	6,466)	6,064)	6,257)	6,068)
Net sales	26,793)	25,299)	23,668)	22,317)	23,968)	31,400)
Products and systems	(14,031)	(13,533)	(11,848)	(11,401)	(12,577)	(18,602)
Services	(3,791)	(3,423)	(3,761)	(3,505)	(3,698)	(3,418)
Cost of sales	(17,822)	(16,956)	(15,609)	(14,906)	(16,275)	(22,020)
Gross profit	8,971)	8,343)	8,059)	7,411)	7,693)	9,380)
Selling, general and administrative expenses	(6,181)	(5,945)	(5,258)	(5,665)	(6,244)	(6,010)
Restructuring and impairment costs	(1,064)	(721)	(242)	(783)	(235)	(263)
Operating income	1,726)	1,677)	2,559)	963)	1,214)	3,107)
Interest expense, net of capitalized interest costs	(307)	(225)	(219)	(240)	(335)	(437)
Other financing charges	(52)	(27)	(25)	(26)	(28)	(58)
Gain (loss) on debt extinguishment	25)	—)	—)	—)	(60)	—)
Interest income	18)	6)	9)	23)	61)	29)
Net foreign exchange results for financing activities	35)	33)	29)	12)	12)	25)
Net financing charges	(281)	(213)	(206)	(231)	(350)	(441)
Equity income	265)	246)	261)	171)	192)	235)
Income from continuing operations before income taxes	1,710)	1,710)	2,614)	903)	1,056)	2,901)
Income tax (provision) benefit	323)	13)	(868)	(108)	233)	(518)
Income from continuing operations	2,033)	1,723)	1,746)	795)	1,289)	2,383)
Income from discontinued operations, net of tax	—)	—)	124)	—)	4,598)	—)
Net income	2,033)	1,723)	1,870)	795)	5,887)	2,383)
Income attributable to noncontrolling interests	(184)	(191)	(233)	(164)	(213)	(221)
Net income attributable to Johnson Controls	1,849)	1,532)	1,637)	631)	5,674)	2,162)

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).

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Income statement item	Description	The company
Net sales	Amount, including tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value-added and excise.	Johnson Controls International plc net sales increased from 2021 to 2022 and from 2022 to 2023.
Operating income	The net result for the period of deducting operating expenses from operating revenues.	Johnson Controls International plc operating income decreased from 2021 to 2022 but then slightly increased from 2022 to 2023.
Income from continuing operations before income taxes	Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest.
Net income attributable to Johnson Controls	The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.	Johnson Controls International plc net income attributable to Johnson Controls decreased from 2021 to 2022 but then increased from 2022 to 2023 exceeding 2021 level.

Johnson Controls International plc (NYSE:JCI)

Income Statement