What is the main reason for this 8-K filing?

The main reason for this filing is to announce and provide recast financial information related to a significant reorganization of Tyco International's reportable business segments, effective for fiscal 2011. This aims to provide investors with a clearer understanding of the company's performance under the new structure.

Does this segment reorganization impact previously reported financial results like net income or EPS?

No, the recasting of previously disclosed information under the new reporting structure is supplemental. It does not represent a restatement of previously issued financial statements and does not affect the company's reported net income, earnings per share, cash flows, operating income, or total assets and liabilities for any previously reported periods.

What are the new reportable segments for Tyco International?

Following the reorganization and the expected sale of a majority interest in Electrical and Metal Products, Tyco International's three primary reporting segments will be: Tyco Security Solutions, Tyco Fire Protection, and Tyco Flow Control.

What non-GAAP financial measures does Tyco use and why?

Tyco provides 'organic revenue' and 'operating income before special items' as non-GAAP measures. They are used to provide investors with a clearer view of the underlying business trends and performance by excluding factors like foreign currency impacts, acquisitions/divestitures, and charges/gains from special items (restructurings, impairments, etc.) that may mask core operational results.

JCI 8-K: Earnings & Results & Regulation FD

Summary

This 8-K filing from Tyco International Ltd. (now Johnson Controls International plc) on December 14, 2010, announces a significant reorganization of its reportable segments, effective for its first fiscal quarter of 2011. The company is splitting its former Safety Products segment, reallocating its businesses between the ADT Worldwide and Fire Protection Services segments to form two new primary segments: Tyco Security Solutions and Tyco Fire Protection. Additionally, the Electrical and Metal Products segment is slated for a majority interest sale in Q1 2011, after which it will be accounted for under the equity method. The primary purpose of this filing is to provide investors with more timely and understandable operational performance data for these new segment structures. The company is furnishing recast financial information for fiscal quarters from late 2008 through Q3 2010, along with fiscal years 2009 and 2010, under the new segment reporting. This recasting is presented to aid investor comprehension and does not alter previously reported GAAP financial results such as net income or EPS.

Key Highlights

1Tyco International Ltd. is reorganizing its reportable segments for fiscal 2011, creating 'Tyco Security Solutions' and 'Tyco Fire Protection' from existing businesses.
2The former 'Safety Products' segment is being split and its components integrated into the new security and fire protection segments.
3A majority sale of the 'Electrical and Metal Products' segment is expected in Q1 2011, with the remaining interest accounted for using the equity method.
4The company is providing recast financial data for historical periods (late 2008 through Q3 2010) to align with the new segment structure.
5This recast financial information is supplemental and does not change previously reported GAAP financial results (net income, EPS, etc.).
6The filing includes GAAP revenue and operating income, as well as non-GAAP 'organic revenue' and 'operating income before special items' for the recast periods.
7The company explains the definitions and rationale for using non-GAAP measures like organic revenue and operating income before special items for better trend analysis.

Johnson Controls International plc 8-K Report, Financial Results (Dec 14, 2010)

Summary

Key Highlights

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