TYCO INTERNATIONAL FINANCE S.A.

TIFSA, a 100% owned subsidiary of the Company, has public debt securities outstanding, which as of September 30, 2016, were fully and unconditionally guaranteed by Johnson Controls and by Tyco Fire & Security Finance S.C.A. ("TIFSCA"), a wholly owned subsidiary of the Company and parent company TIFSA. During the first quarter of fiscal 2017, the guarantees were removed in connection with the previously disclosed debt exchange. The following tables present condensed consolidating financial information for Johnson Controls, TIFSCA, TIFSA and all other subsidiaries. Condensed financial information for the Company, TIFSCA and TIFSA on a stand-alone basis is presented using the equity method of accounting for subsidiaries. The Company has revised investments in affiliates and other shareholders’ equity amounts for TIFSA and TIFSCA as of the year ended September 30, 2016. Within the condensed consolidating statement of financial position, investments in affiliates and other shareholders’ equity for TIFSA and TIFSCA decreased by $1,485 million and $263 million, respectively, with the offset in the consolidating adjustments column. The impact of the changes to the consolidating figures was not significant and had no impact to the consolidated financials of the Company.

The TIFSA public debt securities were assumed as part of the Tyco acquisition. Therefore, no consolidating financial information for the year ended September 30, 2015 is presented related to the guarantee of the TIFSA public debt securities. Additional information regarding TIFSA and TIFSCA for the fiscal year ended September 25, 2015 and the period ended June 24, 2016 can be found in Tyco's Annual Report on Form 10-K filed with the SEC on November 13, 2015 (as recast in part in Tyco's Current Report on Form 8-K filed with the SEC on March 11, 2016) and Tyco's Quarterly report on Form 10-Q filed with the SEC on July 29, 2016, respectively.

CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS

For the Year Ended September 30, 2017

($ in millions)



	Johnson Controls International plc			Tyco Fire & Security Finance SCA			Tyco International Finance S.A.			Other Subsidiaries			Consolidating Adjustments			Total

Net sales	$	—		$	—		$	—		$	30,172		$	—		$	30,172
Cost of sales	—			—			—			20,833			—			20,833

Gross profit	—			—			—			9,339			—			9,339

Selling, general and administrative expenses	(13		)	—			—			(6,145		)	—			(6,158		)
Restructuring and impairment costs	—			—			—			(367		)	—			(367		)
Net financing charges	(179		)	(1		)	(19		)	(297		)	—			(496		)
Equity income (loss)	1,839			874			(35		)	240			(2,678		)	240
Intercompany interest and fees	(27		)	245			11			(229		)	—			—

Income (loss) from continuing operations before income taxes	1,620			1,118			(43		)	2,541			(2,678		)	2,558

Income tax provision	9			—			—			696			—			705

Income (loss) from continuing operations	1,611			1,118			(43		)	1,845			(2,678		)	1,853
Loss from sale of intercompany investment, net of tax	—			—			(935		)	—			935			—
Loss from discontinued operations, net of tax	—			—			—			(34		)	—			(34		)

Net income (loss)	1,611			1,118			(978		)	1,811			(1,743		)	1,819

Income from continuing operations attributable to noncontrolling interests	—			—			—			199			—			199
Income from discontinued operations attributable to noncontrolling interests	—			—			—			9			—			9

Net income (loss) attributable to Johnson Controls	$	1,611		$	1,118		$	(978	)	$	1,603		$	(1,743	)	$	1,611

CONDENSED CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME

For the Year Ended September 30, 2017



(in millions)	Johnson Controls International plc			Tyco Fire & Security Finance SCA			Tyco International Finance S.A.			Other Subsidiaries			Consolidating Adjustments			Total

Net income (loss)	$	1,611		$	1,118		$	(978	)	$	1,811		$	(1,743	)	$	1,819
Other comprehensive income (loss), net of tax
Foreign currency translation adjustments	108			(54		)	20			137			(108		)	103
Realized and unrealized losses on derivatives	(14		)	—			—			(14		)	14			(14		)
Realized and unrealized gains (losses) on marketable securities	5			—			(4		)	9			(5		)	5

Other comprehensive income (loss)	99			(54		)	16			132			(99		)	94

Total comprehensive income (loss)	1,710			1,064			(962		)	1,943			(1,842		)	1,913

Comprehensive income attributable to noncontrolling interests	—			—			—			203			—			203

Comprehensive income (loss) attributable to Johnson Controls	$	1,710		$	1,064		$	(962	)	$	1,740		$	(1,842	)	$	1,710

CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS

For the Year Ended September 30, 2016

($ in millions)



	Johnson Controls International plc			Tyco Fire & Security Finance SCA			Tyco International Finance S.A.			Other Subsidiaries			Consolidating Adjustments		Total

Net sales	$	—		$	—		$	—		$	20,837		$	—	$	20,837
Cost of sales	—			—			—			15,183			—		15,183

Gross profit	—			—			—			5,654			—		5,654

Selling, general and administrative expenses	(2		)	(2		)	(1		)	(4,185		)	—		(4,190		)
Restructuring and impairment costs	—			—			—			(288		)	—		(288		)
Net financing charges	—			—			(6		)	(283		)	—		(289		)
Equity income (loss)	(894		)	(1,527		)	(341		)	174			2,762		174
Intercompany interest and fees	28			—			7			(35		)	—		—

Income (loss) from continuing operations before income taxes	(868		)	(1,529		)	(341		)	1,037			2,762		1,061

Income tax provision	—			—			—			197			—		197

Income (loss) from continuing operations	(868		)	(1,529		)	(341		)	840			2,762		864

Loss from discontinued operations, net of tax	—			—			—			(1,516		)	—		(1,516		)

Net loss	(868		)	(1,529		)	(341		)	(676		)	2,762		(652		)

Income from continuing operations attributable to noncontrolling interests	—			—			—			132			—		132
Income from discontinued operations attributable to noncontrolling interests	—			—			—			84			—		84

Net loss attributable to Johnson Controls	$	(868	)	$	(1,529	)	$	(341	)	$	(892	)	$	2,762	$	(868	)

CONDENSED CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME

For the Year Ended September 30, 2016



(in millions)	Johnson Controls International plc			Tyco Fire & Security Finance SCA			Tyco International Finance S.A.			Other Subsidiaries			Consolidating Adjustments			Total

Net loss	$	(868	)	$	(1,529	)	$	(341	)	$	(676	)	$	2,762		$	(652	)
Other comprehensive loss, net of tax
Foreign currency translation adjustments	(105		)	—			—			(94		)	105			(94		)
Realized and unrealized gains on derivatives	11			—			—			9			(11		)	9
Realized and unrealized losses on marketable common stock	(1		)	—			—			(1		)	1			(1		)
Pension and postretirement plans	(1		)	—			—			(1		)	1			(1		)

Other comprehensive loss	(96		)	—			—			(87		)	96			(87		)

Total comprehensive loss	(964		)	(1,529		)	(341		)	(763		)	2,858			(739		)

Comprehensive income attributable to noncontrolling interests	—			—			—			225			—			225

Comprehensive loss attributable to Johnson Controls	$	(964	)	$	(1,529	)	$	(341	)	$	(988	)	$	2,858		$	(964	)

CONDENSED CONSOLIDATING STATEMENT OF FINANCIAL POSITION

For the Year Ended September 30, 2017



(in millions)	Johnson Controls International plc			Tyco Fire & Security Finance SCA		Tyco International Finance S.A.		Other Subsidiaries		Consolidating Adjustments			Total

Assets
Cash and cash equivalents	$	—		$	107	$	382	$	718	$	(886	)	$	321
Accounts receivable, net	—			—		—		6,666		—			6,666
Inventories	—			—		—		3,209		—			3,209
Intercompany receivables	1,580			1,732		55		4,470		(7,837		)	—
Assets held for sale	—			—		—		189		—			189
Other current assets	14			—		1		1,892		—			1,907
Current assets	1,594			1,839		438		17,144		(8,723		)	12,292

Property, plant and equipment - net	—			—		—		6,121		—			6,121
Goodwill	243			—		32		19,413		—			19,688
Other intangible assets - net	—			—		—		6,741		—			6,741
Investments in partially-owned affiliates	—			—		—		1,191		—			1,191
Investments in affiliates	19,487			31,594		21,132		—		(72,213		)	—
Intercompany loans receivable	17,908			4,140		2,836		9,004		(33,888		)	—
Noncurrent assets held for sale	—			—		—		1,920		—			1,920
Other noncurrent assets	56			—		7		3,868		—			3,931
Total assets	$	39,288		$	37,573	$	24,445	$	65,402	$	(114,824	)	$	51,884

Liabilities and Equity
Short-term debt	$	1,476		$	—	$	—	$	624	$	(886	)	$	1,214
Current portion of long-term debt	307			—		18		69		—			394
Accounts payable	—			—		—		4,271		—			4,271
Accrued compensation and benefits	4			—		—		1,067		—			1,071
Deferred revenue	—			—		—		1,279		—			1,279
Liabilities held for sale	—			—		—		72		—			72
Intercompany payables	4,236			1,055		1,886		660		(7,837		)	—
Other current liabilities	324			2		24		3,203		—			3,553
Current liabilities	6,347			1,057		1,928		11,245		(8,723		)	11,854

Long-term debt	7,806			—		152		4,006		—			11,964
Pension and postretirement benefits	—			—		—		947		—			947
Intercompany loans payable	4,688			17,908		4,316		6,976		(33,888		)	—
Noncurrent liabilities held for sale	—			—		—		173		—			173
Other noncurrent liabilities	—			—		24		5,344		—			5,368
Long-term liabilities	12,494			17,908		4,492		17,446		(33,888		)	18,452

Redeemable noncontrolling interest	—			—		—		211		—			211
Ordinary shares	9			—		—		—		—			9
Ordinary shares held in treasury	(710		)	—		—		—		—			(710		)
Other shareholders' equity	21,148			18,608		18,025		35,580		(72,213		)	21,148
Shareholders’ equity attributable to Johnson Controls	20,447			18,608		18,025		35,580		(72,213		)	20,447
Noncontrolling interests	—			—		—		920		—			920
Total equity	20,447			18,608		18,025		36,500		(72,213		)	21,367
Total liabilities and equity	$	39,288		$	37,573	$	24,445	$	65,402	$	(114,824	)	$	51,884

CONDENSED CONSOLIDATING STATEMENT OF FINANCIAL POSITION

For the Year Ended September 30, 2016



(in millions)	Johnson Controls International plc			Tyco Fire & Security Finance SCA		Tyco International Finance S.A.		Other Subsidiaries		Consolidating Adjustments			Total

Assets
Cash and cash equivalents	$	11		$	—	$	244	$	324	$	—		$	579
Accounts receivable, net	—			—		—		6,394		—			6,394
Inventories	—			—		—		2,888		—			2,888
Intercompany receivables	16			—		2		6,188		(6,206		)	—
Assets held for sale	—			—		—		5,812		—			5,812
Other current assets	6			—		1		1,429		—			1,436
Current assets	33			—		247		23,035		(6,206		)	17,109

Property, plant and equipment - net	—			—		—		5,632		—			5,632
Goodwill	—			—		274		20,750		—			21,024
Other intangible assets - net	—			—		—		7,540		—			7,540
Investments in partially-owned affiliates	—			—		—		990		—			990
Investments in affiliates	12,460			31,142		26,421		—		(70,023		)	—
Intercompany loans receivable	18,680			—		13,336		15,631		(47,647		)	—
Noncurrent assets held for sale	—			—		—		7,374		—			7,374
Other noncurrent assets	—			—		—		3,510		—			3,510
Total assets	$	31,173		$	31,142	$	40,278	$	84,462	$	(123,876	)	$	63,179

Liabilities and Equity
Short-term debt	$	—		$	—	$	—	$	1,078	$	—		$	1,078
Current portion of long-term debt	—			—		—		628		—			628
Accounts payable	1			—		—		3,999		—			4,000
Accrued compensation and benefits	—			—		—		1,333		—			1,333
Deferred revenue	—			—		—		1,228		—			1,228
Liabilities held for sale	—			—		—		4,276		—			4,276
Intercompany payables	3,873			—		2,315		18		(6,206		)	—
Other current liabilities	3			2		32		3,751		—			3,788
Current liabilities	3,877			2		2,347		16,311		(6,206		)	16,331

Long-term debt	—			—		2,413		8,640		—			11,053
Pension and postretirement benefits	—			—		—		1,550		—			1,550
Intercompany loans payable	3,178			18,680		12,453		13,336		(47,647		)	—
Noncurrent liabilities held for sale	—			—		—		3,888		—			3,888
Other noncurrent liabilities	—			—		22		5,011		—			5,033
Long-term liabilities	3,178			18,680		14,888		32,425		(47,647		)	21,524

Redeemable noncontrolling interest	—			—		—		234		—			234
Ordinary shares	9			—		—		—		—			9
Ordinary shares held in treasury	(20		)	—		—		—		—			(20		)
Other shareholders' equity	24,129			12,460		23,043		34,520		(70,023		)	24,129
Shareholders’ equity attributable to Johnson Controls	24,118			12,460		23,043		34,520		(70,023		)	24,118
Noncontrolling interests	—			—		—		972		—			972
Total equity	24,118			12,460		23,043		35,492		(70,023		)	25,090
Total liabilities and equity	$	31,173		$	31,142	$	40,278	$	84,462	$	(123,876	)	$	63,179

CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS

For the Year Ended September 30, 2017



(in millions)	Johnson Controls International plc			Tyco Fire & Security Finance SCA			Tyco International Finance S.A.			Other Subsidiaries			Consolidating Adjustments			Total

Operating Activities
Net cash provided (used) by operating activities	$	(129	)	$	182		$	142		$	(183	)	$	—		$	12

Investing Activities
Capital expenditures	—			—			—			(1,343		)	—			(1,343		)
Sale of property, plant and equipment	—			—			—			33			—			33
Acquisition of business, net of cash acquired	—			—			(6		)	—			—			(6		)
Business divestitures	—			—			—			220			—			220
Changes in long-term investments	—			—			(11		)	(30		)	—			(41		)
Net change in intercompany loans receivable	(300		)	—			—			(640		)	940			—
Increase in intercompany investment in subsidiaries	(1,998		)	(1,716		)	(100		)	—			3,814			—
Net cash used by investing activities	(2,298		)	(1,716		)	(117		)	(1,760		)	4,754			(1,137		)

Financing Activities
Increase (decrease) in short-term debt - net	1,476			—			—			(445		)	(886		)	145
Increase in long-term debt	1,856			—			—			9			—			1,865
Repayment of long-term debt	(183		)	—			(20		)	(1,094		)	—			(1,297		)
Debt financing costs	(17		)	—			—			(1		)	—			(18		)
Stock repurchases	(651		)	—			—			—			—			(651		)
Payment of cash dividends	(702		)	—			—			—			—			(702		)
Proceeds from the exercise of stock options	157			—			—			—			—			157
Net change in intercompany loans payable	583			—			57			300			(940		)	—
Increase in equity from parent	—			1,641			76			2,097			(3,814		)	—
Change in noncontrolling interest share	—			—			—			8			—			8
Dividends paid to noncontrolling interests	—			—			—			(88		)	—			(88		)
Dividends from Adient spin-off	—			—			—			2,050			—			2,050
Cash transferred to Adient related spin-off	(87		)	—			—			(578		)	—			(665		)
Cash paid to prior acquisitions	—			—			—			(75		)	—			(75		)
Other	(16		)	—			—			4			—			(12		)
Net cash provided by financing activities	2,416			1,641			113			2,187			(5,640		)	717
Effect of currency translation on cash	—			—			—			54			—			54
Changes in cash held for sale	—			—			—			96			—			96
Increase (decrease) in cash and cash equivalents	(11		)	107			138			394			(886		)	(258		)
Cash and cash equivalents at beginning of period	11			—			244			324			—			579
Cash and cash equivalents at end of period	$	—		$	107		$	382		$	718		$	(886	)	$	321

CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS

For the Year Ended September 30, 2016



(in millions)	Johnson Controls International plc			Tyco Fire & Security Finance SCA		Tyco International Finance S.A.			Other Subsidiaries			Consolidating Adjustments			Total

Operating Activities
Net cash provided by operating activities	$	11		$	—	$	639		$	1,245		$	—		$	1,895

Investing Activities
Capital expenditures	—			—		—			(1,249		)	—			(1,249		)
Sale of property, plant and equipment	—			—		—			32			—			32
Acquisition of business, net of cash acquired	—			—		—			353			—			353
Business divestitures	—			—		—			32			—			32
Changes in long-term investments	—			—		57			(105		)	—			(48		)
Net change in intercompany loans	—			—		10			—			(10		)	—
Other	—			—		—			(7		)	—			(7		)
Net cash provided (used) by investing activities	—			—		67			(944		)	(10		)	(887		)

Financing Activities
Increase (decrease) in short-term debt - net	—			—		(462		)	1,018			—			556
Increase in long-term debt	—			—		—			1,501			—			1,501
Repayment of long-term debt	—			—		—			(1,299		)	—			(1,299		)
Debt financing costs	—			—		—			(45		)	—			(45		)
Stock repurchases	—			—		—			(501		)	—			(501		)
Payment of cash dividends	—			—		—			(915		)	—			(915		)
Proceeds from the exercise of stock options	3			—		—			67			—			70
Net intercompany loan borrowings (repayments)	—			—		—			(10		)	10			—
Cash paid to acquire a noncontrolling interest	—			—		—			(2		)	—			(2		)
Dividends paid to noncontrolling interests	—			—		—			(306		)	—			(306		)
Other	(3		)	—		—			11			—			8
Net cash used by financing activities	—			—		(462		)	(481		)	10			(933		)
Effect of currency translation on cash	—			—		—			12			—			12
Changes in cash held for sale	—			—		—			(61		)	—			(61		)
Increase (decrease) in cash and cash equivalents	11			—		244			(229		)	—			26
Cash and cash equivalents at beginning of period	—			—		—			553			—			553
Cash and cash equivalents at end of period	$	11		$	—	$	244		$	324		$	—		$	579