Summary
Johnson Controls International plc (JCI), reporting as Tyco International Ltd. in this 2013 10-K, is a global provider of security, fire detection, suppression, and life safety products and services. The company operates through three main segments: North America Installation & Services, Rest of World Installation & Services, and Global Products, which collectively generated $10.65 billion in net revenue for fiscal year 2013. A significant portion of the company's revenue is derived from services, with over half of Installation & Services revenue coming from aftermarket products and services. In the fiscal year ended September 27, 2013, Tyco reported revenue of $10.65 billion, an increase of 2.3% from the prior year, driven by growth in its Global Products and ROW Installation & Services segments, partially offset by a decline in its North America Installation & Services segment. The company continues to emphasize research and development, with R&D expenses at $174 million in 2013, focusing on areas like integrated access control and IP video platforms. However, the company also faces significant risks, including general economic conditions, competition, and ongoing legal and environmental matters, such as asbestos liabilities and environmental remediation at its Wisconsin facility.
Financial Highlights
55 data points| Revenue | $5.85B |
| Cost of Revenue | $3.98B |
| Gross Profit | $1.86B |
| R&D Expenses | $172.00M |
| SG&A Expenses | $2.84B |
| Operating Income | $712.00M |
| Interest Expense | $100.00M |
| Net Income | $536.00M |
| EPS (Basic) | $1.15 |
| EPS (Diluted) | $1.14 |
| Shares Outstanding (Basic) | 465.00M |
| Shares Outstanding (Diluted) | 472.00M |
Key Highlights
- 1Tyco International Ltd. operates as a global provider of security, fire detection, suppression, and life safety products and services.
- 2The company is structured into three reporting segments: North America Installation & Services, Rest of World Installation & Services, and Global Products, which together generated $10.65 billion in net revenue in fiscal year 2013.
- 3Net revenue for fiscal year 2013 increased by 2.3% to $10.65 billion, driven by growth in Global Products and ROW Installation & Services, despite a decline in NA Installation & Services.
- 4Research and Development expenses were $174 million in fiscal year 2013, indicating a focus on innovation in security and fire safety technologies.
- 5The company maintains a significant global presence with approximately 70,000 employees worldwide and operates from about 1,100 locations in roughly 50 countries.
- 6Key risks identified include dependence on general economic conditions, intense competition, currency fluctuations, and significant environmental remediation liabilities, particularly at the Marinette, Wisconsin facility.
- 7Significant restructuring activities have occurred, including the spin-offs of ADT and Tyco Flow Control in September 2012, which have impacted the company's financial reporting and operational structure.