Johnson Controls International plc
For the period ended Sep 30, 2024. Filed Nov 19, 2024.
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FY2024 · Filed Nov 19, 2024
Extracted filing text, with the paragraph anchors used by the comparison.
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9. Leases
- LEASES
The following table presents the Company’s lease costs (in millions):
| Year Ended September 30, | |||
|---|---|---|---|
| 2024 | 2023 | 2022 | |
| Operating lease cost | $374 | $365 | $334 |
| Variable lease cost | 170 | 154 | 160 |
| Total lease costs | $544 | $519 | $494 |
The following table presents supplemental consolidated statement of financial position information (in millions):
| September 30, | ||||
|---|---|---|---|---|
| Location of lease balances · 2024 · 2023 | ||||
| Operating lease right-of-use assets | Other noncurrent assets | $1,170 | $1,301 | |
| Operating lease liabilities - current | Other current liabilities | 289 | 298 | |
| Operating lease liabilities - noncurrent | Other noncurrent liabilities | 921 | 1,016 | |
| Weighted-average remaining lease term | 7 years | 7 years | ||
| Weighted-average discount rate | 3.8% | 3.5% | ||
The following table presents supplemental cash flow information related to operating leases (in millions):
| Year Ended September 30, | |||
|---|---|---|---|
| 2024 | 2023 | 2022 | |
| Cash paid for amounts included in the measurement of lease liability: | |||
| Operating cash outflows from operating leases | $377 | $355 | $349 |
| Noncash operating lease activity: | |||
| Right-of-use assets obtained in exchange for operating lease liabilities | 354 | 389 | 358 |
The following table presents future minimum rental payments for operating lease liabilities as of September 30, 2024 (in millions):
| 2025 | $326 |
| 2026 | 265 |
| 2027 | 207 |
| 2028 | 155 |
| 2029 | 106 |
| After 2029 | 314 |
| Total operating lease payments | 1,373 |
| Less: Interest | (163) |
| Present value of lease payments | $1,210 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.