Statement of Comprehensive Income

Comprehensive income is the change in equity (net assets) of a business enterprise during a period from transactions and other events and circumstances from non-owners sources. It includes all changes in equity during a period except those resulting from investments by owners and distributions to owners.

Johnson Controls International plc, consolidated statement of comprehensive income

US$ in millions

12 months ended:	Sep 30, 2023	Sep 30, 2022	Sep 30, 2021	Sep 30, 2020	Sep 30, 2019	Sep 30, 2018
Net income	2,033)	1,723)	1,870)	795)	5,887)	2,383)
Foreign currency translation adjustments	(84)	(603)	376)	25)	(342)	(483)
Realized and unrealized gains (losses) on derivatives	25)	7)	(18)	8)	6)	(29)
Realized and unrealized gains (losses) on marketable securities	—)	—)	—)	—)	—)	4)
Pension and postretirement plans	(1)	(3)	4)	8)	(6)	—)
Other comprehensive income (loss)	(60)	(599)	362)	41)	(342)	(508)
Comprehensive income	1,973)	1,124)	2,232)	836)	5,545)	1,875)
Comprehensive income attributable to noncontrolling interests	(168)	(69)	(253)	(186)	(195)	(186)
Comprehensive income attributable to Johnson Controls	1,805)	1,055)	1,979)	650)	5,350)	1,689)

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).

The financial performance over the six-year period ending September 30, 2023, is characterized by significant volatility in net income and substantial fluctuations in other comprehensive income, primarily driven by external currency movements.

Net Income Performance: Net income exhibited a sharp increase in 2019, reaching a peak of 5,887 million US dollars, followed by a precipitous decline to 795 million US dollars in 2020. A period of relative stabilization has been observed from 2021 through 2023, with net income fluctuating between 1,723 million and 2,033 million US dollars, suggesting a recovery toward a consistent baseline.
Impact of Other Comprehensive Income (OCI): Other comprehensive income demonstrates high variability, largely dictated by foreign currency translation adjustments. Significant negative adjustments were recorded in 2018 (-508 million US dollars) and 2022 (-599 million US dollars), while 2021 saw a positive adjustment of 376 million US dollars. This pattern indicates a high sensitivity to exchange rate volatility across global operations.
Comprehensive Income Trends: Comprehensive income attributable to the parent company mirrored the trajectory of net income but was frequently modulated by OCI. A peak was recorded in 2019 at 5,350 million US dollars. A notable contraction occurred in 2022, where comprehensive income fell to 1,055 million US dollars, largely due to the aforementioned negative currency translation adjustments. A recovery followed in 2023, with income rising to 1,805 million US dollars.
Noncontrolling Interests and Minor Adjustments: Comprehensive income attributable to noncontrolling interests remained consistently negative throughout the period, ranging from -69 million to -253 million US dollars. Other components, such as realized and unrealized gains or losses on derivatives and pension plan adjustments, remained relatively marginal, exerting minimal influence on the overall comprehensive income compared to net earnings and currency translations.

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Johnson Controls International plc (NYSE:JCI)

Statement of Comprehensive Income