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Consolidated Statements of Cash Flows - USD ($)
$ in Millions
3 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Operating Activities    
Net income attributable to Johnson Controls $ 374 $ 118
Less: Income attributable to noncontrolling interests 30 38
Net income 404 156
Adjustments to reconcile net income to cash used by operating activities:    
Depreciation and amortization 231 203
Pension and postretirement benefit income (10) (6)
Pension and postretirement contributions (6) (9)
Equity in earnings of partially-owned affiliates, net of dividends received (56) (56)
Deferred income taxes (70) (92)
Noncash restructuring and impairment charges 9 294
Equity-based compensation 30 30
Other - net (22) (27)
Changes in assets and liabilities, excluding acquisitions and divestitures:    
Accounts receivable 61 (88)
Inventories (203) (348)
Other assets (191) (68)
Restructuring reserves (14) 14
Accounts payable and accrued liabilities (414) (338)
Accrued income taxes 5 39
Cash used by operating activities (246) (296)
Investing Activities    
Capital expenditures (92) (134)
Acquisition of businesses, net of cash acquired (2) (79)
Other - net 20 24
Cash used by investing activities (74) (189)
Financing Activities    
Net proceeds from borrowings with maturities less than three months 1,108 467
Proceeds from debt 422 154
Repayments of debt 0 (200)
Stock repurchases and retirements 0 (154)
Payment of cash dividends (252) (241)
Employee equity-based compensation withholding taxes (23) (30)
Other - net (27) 13
Cash provided by financing activities 1,228 9
Effect of exchange rate changes on cash, cash equivalents and restricted cash 60 (14)
Increase (decrease) in cash, cash equivalents and restricted cash 968 (490)
Cash, cash equivalents and restricted cash at beginning of period 924 2,066
Cash, cash equivalents and restricted cash at end of period 1,892 1,576
Less: Restricted cash 91 67
Cash and cash equivalents at end of period $ 1,801 $ 1,509