XML 36 R18.htm IDEA: XBRL DOCUMENT v3.24.3
Debt and Financing Arrangements
 12 Months Ended
Sep. 30, 2024
Debt Disclosure [Abstract]  
DEBT AND FINANCING ARRANGEMENTS DEBT AND FINANCING ARRANGEMENTS
Short-Term Debt

Short-term debt consisted of the following (in millions):
 September 30,
 20242023
Term loans$603 $159 
Commercial paper350 200 
Bank borrowings— 2 
$953 $361 
Weighted average interest rate on short-term debt outstanding4.8 %4.9 %
Long-Term Debt

Long-term debt consisted of the following (in millions; due dates by fiscal year):
September 30,
IssuerInterest RateDue Date 20242023
US dollar debt
JCI plc3.625%2024$— $453 
JCI Inc.3.625%2024— 31 
JCI plc3.90%2026487487 
TIFSA1
3.90%20265151 
JCI plc and TFSCA2
5.50%2029700— 
JCI plc and TFSCA2
1.75%2030625625 
JCI plc and TFSCA2
2.00%2031500500 
JCI plc and TFSCA2
4.90%2033400400 
JCI plc6.00%2036342342 
JCI Inc.6.00%203688 
JCI plc5.70%2041190190 
JCI Inc.5.70%20413030 
JCI plc5.25%2042155155 
JCI Inc.5.25%204266 
JCI plc4.625%2044444444 
JCI Inc.4.625%204466 
JCI plc5.125%2045253372 
TIFSA1
5.125%20452323 
JCI plc6.95%20463232 
JCI Inc.6.95%204644 
JCI plc4.50%2047500500 
JCI plc4.95%2064341341 
JCI Inc.4.95%20641515 
Euro debt
JCI plc
EURIBOR plus 0.70%
2024— 159 
JCI plc1.375%2025472448 
TIFSA1
1.375%20256057 
JCI plc and TFSCA2
0.375%2027559530 
JCI plc and TFSCA2
3.00%2028670636 
JCI plc and TFSCA2
1.00%2032559530 
JCI plc and TFSCA2
4.25%2035894849 
Japanese yen debt
JCI plc
TORF plus 0.40%
2027211202 
Other31 36 
Gross long-term debt8,568 8,462 
Less:
Debt issuance costs38 35 
Net unamortized discount38 41 
Net purchase accounting adjustments(48)(77)
8,540 8,463 
Less: Current portion536 645 
Long-term debt$8,004 $7,818 
1 TIFSA = Tyco International Finance S.A.
2 TFSCA = Tyco Fire & Security Finance S.C.A.
The following table presents maturities of long-term debt as of September 30, 2024 (in millions):

2025$536 
2026544 
2027776 
2028676 
2029707 
After 2029
5,329 
Total$8,568 

Other

As of September 30, 2024, the Company had syndicated committed revolving credit facilities of $2.5 billion which is scheduled to expire in December 2028 and $500 million which is scheduled to expire in December 2024. There were no draws on the facilities as of September 30, 2024.

As of September 30, 2024, the Company was in compliance with all financial covenants set forth in its credit agreements and the indentures governing its outstanding notes, and expects to remain in compliance for the foreseeable future.
Total interest paid on both short and long-term debt for the years ended September 30, 2024, 2023 and 2022 was $361 million, $288 million and $222 million, respectively.