Johnson Controls International Files 8K - Other Events
February 23 2017 - 11:03AM
Dow Jones News
Johnson Controls International PLC (JCI) filed a Form 8K - Other
Events - with the U.S Securities and Exchange Commission on
February 23, 2017.
Johnson Controls International plc (the "Company") is filing
this Current Report on Form 8-K ("Current Report") to revise
certain financial information and related disclosures included in
the Annual Report on Form 10-K of the Company for the year ended
September 30, 2016 ("Annual Report"), which was filed with the
Securities and Exchange Commission ("SEC") on November 23, 2016.
During the first quarter of fiscal 2017, the Company determined
that its Automotive Experience business ("Adient") met the criteria
to be classified as a discontinued operation, which required
retrospective application to financial information for all periods
presented. Also in the first quarter of fiscal 2017, the Company
began evaluating the performance of its business segments primarily
on segment earnings before interest, taxes and amortization
("EBITA"), which represents income from continuing operations
before income taxes and noncontrolling interests, excluding general
corporate expenses, intangible asset amortization, net financing
charges, significant restructuring and impairment costs, and the
net mark-to-market adjustments related to pension and
postretirement plans. Historical information has been revised to
present the comparable periods on a consistent basis. During the
first quarter of fiscal 2017, the Company adopted Accounting
Standards Update ("ASU") No. 2015-03, "Interest - Imputation of
Interest (Subtopic 835-30): Simplifying the Presentation of Debt
Issuance Costs," and ASU No. 2015-07, "Disclosures for Investments
in Certain Entities That Calculate Net Asset Value per Share (or
Its Equivalent)," and applied the changes retrospectively to all
periods.
This Current Report and Exhibit 99.1 are being filed solely to
recast financial information and revise certain related disclosures
contained in the Annual Report to reflect Adient as a discontinued
operation, the change in segment performance measure implemented
during the Company's first quarter of 2017, and the retrospective
changes for all periods presented for the adoption of ASU No.
2015-03 and 2015-07.
Unaffected items and unaffected portions of the Annual Report
have not been repeated in, and are not amended or modified by, this
Current Report or Exhibit 99.1. The information in this Current
Report with respect to the Company should be read in conjunction
with the Annual Report and the subsequent Quarterly Report on Form
10-Q of the Company for the quarterly period ended December 31,
2016, which was filed with the SEC on February 8, 2017. Other than
as required to reflect Adient as a discontinued operation, the
change in segment performance measure, and the retrospective
changes of the adoption of ASU No. 2015-03 and 2015-07, each as
described above and set forth in Exhibit 99.1, this Current Report
does not reflect events that have occurred subsequent to the
original filing date of the Annual Report, and does not modify or
update in any way the disclosures made in the Annual Report. For
information on events occurring since the filing of the Annual
Report, please refer to the Company's subsequent filings with the
SEC. The information contained in Exhibit 99.1 to this Current
Report on Form 8-K is not an amendment to, or a restatement of, the
Annual Report.
The full text of this SEC filing can be retrieved at:
http://www.sec.gov/Archives/edgar/data/833444/000083344417000010/a8-kfy2016revised10xk.htm
Any exhibits and associated documents for this SEC filing can be
retrieved at:
http://www.sec.gov/Archives/edgar/data/833444/000083344417000010/0000833444-17-000010-index.htm
Public companies must file a Form 8-K, or current report, with
the SEC generally within four days of any event that could
materially affect a company's financial position or the value of
its shares.
(END) Dow Jones Newswires
February 23, 2017 10:48 ET (15:48 GMT)
Copyright (c) 2017 Dow Jones & Company, Inc.
Johnson Controls (NYSE:JCI)
Historical Stock Chart
From Aug 2024 to Sep 2024
Johnson Controls (NYSE:JCI)
Historical Stock Chart
From Sep 2023 to Sep 2024