Summary
This 8-K filing from Tyco International Ltd. (now Johnson Controls International plc) on February 9, 2010, details a significant realignment of its business operations and provides recast financial data for fiscal years 2007 through 2009. The primary change involves the transfer of manufacturing operations supporting the ADT retail business from the Safety Products segment to the ADT Worldwide segment. Additionally, several smaller business and overhead cost transfers were made between segments and Corporate. Crucially, the company states this realignment had no impact on its consolidated financial position, results of operations, earnings per share, or cash flows. This filing serves to present a more accurate historical view of segment performance following these operational adjustments.
Key Highlights
- 1Tyco International Ltd. realigned its business operations during the first quarter of fiscal 2010, impacting segment reporting.
- 2Manufacturing operations supporting ADT retail were moved from Safety Products to ADT Worldwide.
- 3Other smaller business transfers occurred between Safety Products, Fire Protection Services, and ADT Worldwide segments, as well as between Corporate and ADT Worldwide.
- 4The company explicitly states that these realignments did not affect consolidated financial position, results of operations, EPS, or cash flows.
- 5Recast historical financial data for fiscal years 2007, 2008, and 2009 are provided for the affected segments.
- 6The filing includes recast net revenue, operating (loss) income, total assets, depreciation/amortization, capital expenditures, and long-lived assets by segment and geography.