JCI · 10-K · 2026A · Full report
Balance Sheet and Liquidity
Johnson Controls International plc · 2026-11-12 · Importance 42 · Surprise 14 · In source text
At September 30, 2026, total debt was $9.277 billion, net debt was $8.659 billion and cash and cash equivalents were $618 million. Total debt was 40.5% of total capitalization, down from 43.3% in fiscal 2025; net debt was 38.9% of net capitalization, down from 42.4%. Commercial paper outstanding was $250 million, and the company had no draws on its $2.5 billion revolving credit facility, which expires in December 2028. S&P rated the company BBB+ with a stable outlook and Moody’s rated it Baa1 with a stable outlook; the company reported compliance with its debt covenants.
Key facts
- Johnson Controls stated that interest payable on long-term debt outstanding at September 30, 2026 was $305 million in the following 12 months and $3.0 billion thereafter. source
- As of September 30, 2026, Johnson Controls had purchase obligations of approximately $2 billion payable in the next 12 months and approximately $0.3 billion payable thereafter. source
- Johnson Controls used $3,048 million of cash in continuing-operations financing activities in fiscal 2026, compared with $6,784 million in fiscal 2025. source
- Johnson Controls has a $2.5 billion revolving credit facility scheduled to expire in December 2028, with no draws at September 30, 2026 or September 30, 2025. source
- For fiscal 2027, Johnson Controls estimated long-term pension-asset return rates of 7.10% for U.S. pension plans and 6.53% for non-U.S. pension plans. source
- Johnson Controls expected to contribute $21 million and $156 million to global pension and postretirement plans in the next 12 months and thereafter, respectively, as of September 30, 2026. source
- Johnson Controls' working capital was negative $1,241 million at September 30, 2026, compared with negative $779 million at September 30, 2025. source
- Johnson Controls used $468 million of cash in continuing-operations investing activities in fiscal 2026, compared with $412 million in fiscal 2025. source
Impact estimates
| metric | direction | stage | expected | basis |
|---|---|---|---|---|
| cash | negative | committed | -6.3% | Johnson Controls stated that interest payable on long-term debt outstanding at September 30, 2026 was $305 million in the following 12… |
| cash | negative | committed | -4.2% | As of September 30, 2026, Johnson Controls had purchase obligations of approximately $2 billion payable in the next 12 months and… |
| cash | negative | committed | -0.7% | Johnson Controls stated that interest payable on long-term debt outstanding at September 30, 2026 was $305 million in the following 12… |
| cash | negative | committed | -0.6% | As of September 30, 2026, Johnson Controls had purchase obligations of approximately $2 billion payable in the next 12 months and… |