Summary
Johnson Controls International plc (JCI) filed an 8-K on November 9, 2017, to announce a significant reorganization of its Building Technologies & Solutions (BT&S) business segment reporting structure, effective July 1, 2017. This change aligns the segment reporting with the company's new management structure and business activities, consolidating previous reporting units into four new segments: Building Solutions North America, Building Solutions EMEA/LA, Building Solutions Asia Pacific, and Global Products. The integration of the legacy Tyco business is also reflected, with Tyco no longer being a separate reportable segment. This reorganization aims to provide a clearer view of operational performance and strategic focus within the BT&S division.
Key Highlights
- 1JCI reorganized its Building Technologies & Solutions (BT&S) business segment reporting effective July 1, 2017.
- 2The BT&S segment is now comprised of four reportable segments: Building Solutions North America, Building Solutions EMEA/LA, Building Solutions Asia Pacific, and Global Products.
- 3The legacy Tyco business is no longer reported as a separate segment but is integrated across the new BT&S segments.
- 4This change reflects a new management reporting structure and business activities within JCI.
- 5The filing includes supplemental information (Exhibit 99.1) that revises historical segment data to be consistent with the new structure.
- 6The Global Products segment now includes the Johnson Controls-Hitachi joint venture and the recently sold Scott Safety business (sold October 4, 2017).